Mass Adoption of Crypto Is Coming (Crypto Investment Summit 2019)


hey guys ben here with bit boy crypto
and Quinn with Mid Earth crypto here we made the trip out here to CIS in Los
Angeles what have you thought about the conference
it’s been nice I like to Tim Draper was proud of my favorite Speaker of the the
whole event he had a lot of good things to say about governments competing for
citizens instead of you know businesses like they do in a free market economy
and it was a really interesting thought he also had a cool thing an idea for how
to tax Bitcoin and that was through micro transaction so those two concepts
were the my favorite take away from the conference. wow that’s really great I
unfortunately missed Tim Draper I didn’t get out here in time to catch that
yesterday morning but I’ve been a very interesting conference since I’ve been
out here talked to a lot of very interesting people we want to say a big
special thank you to Tron for sponsoring us to come out here you know Tron’s
doing big things you guys check out their website Tron something you guys
know the Tron website Tron.Network you guys be for real y’all know the Tron
website so yeah they’re on has been doing a lot of work with us sponsoring
us to go to different events and talk and get to network and talk to all kinds
of different people so you know definitely big shout out to them so
we’re actually gonna show a couple interviews that we did one you did
yesterday yeah so give Bitcoin.IO I was moreso thinking about it as a way to use
their new people into receiving Bitcoin just as a way to not have to deal with
private keys and stuff so that was interesting I’m gonna be using it for
Christmas you know just giving guests a family and locking up some Bitcoin and
you interviewed Feo. yes Feo basically what they’re doing
is they’re getting rid of the traditional way that public addresses
are done so we’re gonna simplify the way that you send money to different
addresses they’re working with a lot of different wallets including the edge
wallet the bread wallet also coinami so all kinds of good wallets and what
they’re doing is is you can kind of look at it similarly to like what HTTP did
for the internet like there’s a whole protocol behind that people don’t know
they don’t understand they don’t care about all they know is to plug the
address and so with Theo they’re trying to do the same thing with public
addresses so we thought that these were two of the coolest companies that we’re
here because they’re really trying to do things that we think are gonna help mass
adoption what you know we’re big on absol
so who was your favorite person meeting on the whole event I have an idea but go
ahead and say uh I really had a good time meeting Kathryn Coley of Binance
she’s really awesome we got to have lunch with her I actually just sipped on
a free water so but I made sure to thank you for that free water so yeah Binance is doing big stuff we’re gonna have we were supposed to have her on for
an interview but she actually had a flight she had to go catch so she’s
gonna be on the show down the road she’s already committed to that and you’re not
getting out of it Kathryn this time flight or no flight so tonight I guess
we’re gonna go do the the boat ride around with the influencers to get some
interviews there see what everybody is thinking about the space how they enjoy
the conference and uh yeah go from there that’s it enjoy these interviews hey guys we are here with David from
epic they are working on Pheo can you tell us a little bit about what Pheo is
sure the feel protocol is gonna do for blockchain what the HTTP protocol did
for the Internet it’s a decentralized service layer that makes blockchain easy
to use across every single token or coin eliminates the need for users ever to
have to see or know to public addresses enables users to do things that are
really not possible today like send requests for payments and to include
information metadata with their transaction a note and order card an
invoice and do that identically across every token or coin awesome so you set a
lot of words that probably would be confusing to let’s just say someone that
notes absolutely nothing about crypto I understand what you’re talking about I’m
sure my viewers understand what you’re saying
one issue that Quinn and I have found when we do interviews with people that
don’t know anything about cryptocurrency is just it’s just that they don’t know
anything about this entire space so with what you guys are building I think it
makes sense for people that are already in crypto how do you feel like what you
guys are doing can help onboard new people that don’t know anything about
crypto yeah so imagine trying to explain to somebody who doesn’t know anything
about crypto today what it takes to send Bitcoin or aetherium and and their
reaction when you tell them what it takes and how risky it is if they
actually make a mistake that’s pretty scary and confusing with the Fiat
protocol when it’s live and fully implemented the story will be you can
now send money like you send email that’s it you can send money and you can
request money like you use an email address and you can you put include a
note along with that transaction so that’s how easy it’ll be with Pheo it
becomes very easy to explain to them and people are like oh I can send money
using something like an email address that’s pretty cool how does that work
yeah people are definitely already doing that with you know non blockchain
solutions with vin Moe PayPal there’s a type of things that people understand
like you just put in an address and you know whether it’s you know looks like an
email address or whatever I think with crypto where people get real confused is
they have a public address and then a private key and I think the
normal person just cannot wrap their head around kind of the way that that
works so that’s definitely something I think it’s good so what wallets are you
guys already integrated with are there any others that you’re looking to
integrate with in the future yes so we have 28 industry partners 25 have been
announced land ask the other three soon these partners include companies like
finances trust wallet finance is actually an investor in our project
shape shift edge Konomi my crypto Bitcoin comm and many others that are
working on and planning to integrate the Pheo protocol many of them have already
done an initial light integration for our fee o address pre sale people can
pre reserve their feel address now in advance of our main at launch at
addresses dot fee o dot foundation and they can actually do that within wallets
like edge and cry no me and Trust and others that have already enabled this
and several others are in the coming soon static category that will have the
integration live very very soon ok so a lot of that there are other solutions
out there that do this but the way it’s explained to me is there kind of like a
third party you got to work with another company to get this going you guys work
directly with the wallets and they’re all integrated like you could send if
you have and these are the X this wallet is when you you guys work with edge edge
wallet night they both start with E guys give me a break ok but let’s say edge
wallet and coin o me like they sync together like you’ll be able to use one
address to send back and forth between people that have those two wallets does
that make sense right so within the walled garden of a wallet or in exchange
they can do whatever they want and before the world wide web became really
popular you had companies like American online and prodigy that created these
really user friendly ecosystems that were walled gardens inside of their
walled garden it was user friendly but the outside of it it wasn’t the field
protocol again back to http is that protocol that sits between wallets that
allows a user a user experience in a decentralized way between wallets that’s
not possible today and so yeah ultimately it works between
any products because every product in the world will grab the api’s and the
software development kits that feel provides they’ll be completely open
source and available to integrate the Pheo capabilities into
their products you know it’s very interesting a lot of people in crypto
they talk about the Netscape moment everybody’s looking for the Netscape
moment because that was the thing that tied the entire Internet together and it
made it where you know AOL wasn’t the Internet I grew up thinking AOL was the
Internet you know when I started using the internet about the seventh grade
like I thought AOL was the internet I try to explain it to to whippersnappers
today and I tell them you know it’d be like if you thought Twitter was the
internet like that’s that’s kind of what it’s like but I like what you guys are
doing and how you compare it to the HTTP solution because it wasn’t just Netscape
there were a lot of moving parts along with Netscape that kind of gave the
internet that usability and it’s definitely cool you guys you guys are
working on and Netscape was is the user interface for the HTTP protocol right
without HTTP Netscape doesn’t exist it’s leveraging hypertext transport protocol
to enable a web browser and in the same way we’re not a wallet we enable wallets
through our prayer our protocol and you know users use IP addresses all the time
every day very few users know what an IP address is and they um rarely see them
public addresses will still exist but there’s no reason people have to see
public addresses and so we are trying to create that Netscape moment by enabling
that sort of a usability protocol that can abstract away the complexities of
the underlying protocols the underlying protocols all the ones that exist and
will exist in the future are critical plumbing to actually make it work in the
same way underneath the web browser is a lot of critical plumbing and more
complex protocols and software but users actually don’t have to know anything
about those right that’s the way blockchain needs to be and it ultimately
will be with a protocol like feel that is really great I’m definitely impressed
what you guys are doing there I think there’s something that helps with
adoption that can help onboard new users and make things simpler so definitely
thank you for your time thanks for joining us learn more cof IO dot
foundation is the main site and you can see demo videos and ever all the
information is there at Fionna Foundation thank you very much
guys Quinn here with mineral crypto and Corey klippstein boy klippstein I don’t
know his clips tin phones right give Bitcoin dot-com aiyo aiyo aiyo alright
give me a quick rundown elevator pitch up what is good there you go what we
like to say is give Plus time-lock plus educate equals Bitcoin err and this is
basically a scaled evangelism platform where you if you’re into Bitcoin you
want to get friends and family into Bitcoin you can give your cousin Jenny
$100 worth of Bitcoin you time lock it for minimum one-year maximum 5 years so
she can’t sell it for ripple or like USD coin or something like that and and then
over the next 12 months we give Jenny an incredible education sculpted by people
like John Pritzker and Safety animos since Stephane Rivera and Matt O’Dell
and kind of like the best the best minds in Bitcoin to try to get them hooked to
try to get them understand it and try to get them to go down the rabbit hole
faster so yeah that’s it that is taking a bit corners I have a question so you
say you give them Bitcoin right and you lock it in a time contract I assume and
that yeah they then are educated how are you giving them the Bitcoin
because we’re doing right now at or where we go around interviewing people
and one of the biggest points of failure that we found even with people that are
willing to accept Bitcoin is the process of downloading the wallet yep the
registration the private keys all that is just created I’ve had three or five
out of ten people that will just stop halfway through the process and leave me
so yeah how will you actually in the Bitcoin basically we try to remove as
much friction as possible so we’re really optimizing for safe and easy and
that does mean using a custodian on the back end okay the benefit of that is you
can give Bitcoin you know I can be at this conference and as soon as we’re
live here in the next couple weeks I could give you know $1,000 with Bitcoin
and ten dollar increments to you know a hundred people ten bucks each only the
ones that actually sign up for an account and accept the gift only then
does the transaction go through so it’s not like you’re wasting your wasting it
exactly that’s the problem with the paper wallets or then you know maybe you
have to like maintain your key right the gift is gone you don’t own that Bitcoin
you have no access to it after they accept it’s like a double opt-in gift
and so how do they receive it just through an email registration
yeah so all you need is somebody whose email address okay yeah no KYC kyc on
the receiver side okay but it’s pretty prime trust has a you know a good
database and they’re hooked into everybody so it’s actually just a
license upload so just email sends them a contract that they sign up for him and
yeah just like usual you know except checkbox terms and conditions and to
create a username but this is a way for they’re gonna be on the street and have
it quickly occur and super fast that’s also super fast yeah it really is like a
mini to mini evangelism platform that we built it’s like a utility right we think
about this a lot like like Twitter or something like that it’d just be like
that e is that easy and who is weak when you say we’ve built it who’s a tech
company yeah yeah I mean it’s its myself got a CTO got a CP Oh had a product
who’s you know those guys both have multiple exits a CTO is built like a two
billion dollar revenue business okay you know as a founder how long you guys been
working on the project together we had the idea
April 10th so six months ago leap and then yeah just kind of like we we broke
ground after so we did the designs and like May June and we broke ground on the
coding July first so yeah and as far as where you guys had to launch point right
now you think you know so we’re in alpha right now so we have about 20 people
banging around and sending us bugs and stuff and I like going through those in
Trello as one does and then hopefully by next week we’ll actually have
transactions live and we’ll open the beta which is about a thousand people
that have signed up right we’re here at CIS so if you’re watching
this like live right now or you know as soon as this airs if you go to see is
not give Bitcoin dot IO you can actually get into the beta and be one of those
first thousand people use my referral link there you go yeah you will have a
referral link will also give you one and then we’ll go live to everybody probably
in like two to three weeks to three weeks so in time for Christmas yes
that’s big deal is that yeah so this is actually a really good point and I’m
glad you brought it up so it is definitely there is a give side to the
platform but we actually think most of the transactions will actually have
happen through the get side gets them so you can get Bitcoin you can put it on
your wish list you can tell all of your friends and
family that you don’t want a sweater you want bitcoins a graduation wedding
Christmas whatever will we say you know go fund yourself with a deadline and
then the people could just send it the same way yeah so a question if you’ve
already registered you’re signed up and you have your coins locked in custody
then I received more coins to this address
yeah yeah so it’s not interesting account yes a custodial account crime
trust it’s a Bitcoin savings I need to do that for myself just like it’s been
my own Bitcoin people talk about it like a CD or like a surety bond or something
like that now so the third way you can use it so you can give you can get you
can also purchase for yourself and you can you know you can use the time lock
or not right and so we already have some people playing around and they’ve come
up with a hashtag called hashtag proof of Hottel okay which is basically like
you can buy Bitcoin for yourself lock it up for five years and then post
on Twitter and gachy that you are actually harder moved in yeah okay that
should be fun we’ll see how it goes do you think that this is gonna be
something that catches on as far as I’m already the way I think about is a
savings account absolutely like yeah keeping myself from spending my own
Bitcoin because for me I’m in the collection phase right now with the long
term thought of you know five ten years is when I use this but yeah I often find
myself like okay maybe I’ll liquidate some to pay bills the idea of locking it
up against myself is great yeah I mean we’re not gonna push it super hard
because like the education is all about I mean we really want to push people to
be full bitcoiners and take them on the path towards self sovereignty so we do a
lot of Education about cold storage know it’s privacy you know Bitcoin only coin
joins Bitcoin only 100 percent yeah we
wouldn’t recommend anyone do a disservice to their friends by giving
them don’t all coins all coins so we call them a maximalist to the poor I
don’t know I mean that’s I’m a Bitcoin er yeah a bit corner you told me
whatever you want you having etherium no no no is yeah I mean it’s really just
like you know money trends toward one and network protocols trend toward one
agree sure yeah if you look at like you know OSI versus tcp/ip like obviously
OSI was like way better but tcp/ip was already entrenched so I mean it’s layer
1 of the Internet okay tcp/ip you
you know modems and stuff like that okay yeah and you know something can’t just
be a little bit better or even ten times better it needs to be like somewhere
between a hundred and a thousand times or veterinary to unseat the incumbent
the incumbent right when when it comes to like a money or or a network protocol
and Bitcoin is both and so yeah I mean the way I see the place the space
playing out like Bitcoin has a potential market size of like 100 to 250 trillion
right I would say like at least the coins that exist today maybe they’re
upside combined is maybe a trillion right for all of them combined okay so
if your project is looking at a one in five year timeline this is a question I
can ask a lot for mass adoption and I say mass adoption with meaning we’re all
spinning satoshis at Starbucks right yeah what kind of time frame do you
think we are for that uh I’m in probably like three having’s okay so that’s 2028
see like 10 years hours Oh cuz you have one in twenty twenty twenty twenty four
twenty twenty eight and you think by then everyone’s I mean maybe I mean I
think I think that it will I think by then there will be enough people at the
places that bitcoiners would shop and people that bitcoiners would transact
with I think the people they transact with for most of the things they want
and they’re using or their neighborhood or whatever will at least be able to
price things and SATs don’t know I don’t know whatever yeah they might still have
you know they’ll be back on the drachma in Greece but like if you’re at the
internet cafe they’re gonna be able to price it in SAP don’t know okay you know
there are a lot of cultures around the world that have multiple currencies and
they’re able to price things in multiple currencies I mean it’s basically
everywhere except the u.s. prices things Android currencies it’s going to be no
problem whatsoever the mind is very adaptable
you can certainly price things in SATs within the next ten years for sure
okay I like it guys give give Bitcoin give the community is what it is okay
thank you so much Corey appreciate sure have another great day guys

12 thoughts on “Mass Adoption of Crypto Is Coming (Crypto Investment Summit 2019)”

  1. Hey Bitboy, nice to see you keep producing high quality content! But It seems to me you lost your interest in IOST since the price went down…

  2. Awesome interview and information, interesting seen competitors to Zi. movement appearing in the space plus the self custodian bitcoiners. What a time we are living in no kidding seen this it gives me goosebumps……

  3. First of all, great interviews guys. And Ben, When I heard what the FIO project is working on I almost fell over. What's the worst part of crypto? Wallets. That could change everything.

  4. All about marketcap. 220B still is nothing in the real world. I think the only way is up. And maybe never exit at all…

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