This week in Bitcoin- 11-3-2017- $7400 BTC, Bgold, SingularityNET, Bcash pump, 2x


hello everyone this is adam meister the
bitcoinmeister the disrupt meister welcome to this week in bitcoin today is
November the 3rd 2017 buy and hold strong hand well what a crazy week it’s
been in Bitcoin and cryptocurrency Bitcoin has hit a whole all-time high
again $7,400 apparently I don’t even keep track with that much anymore
2x drama be cash pump each and of course be gold and lots of other stuff too
so we’ve got guests from all over the world we got of course Richard Hart is
on the show then we’ve got someone that you’ve probably never seen before
Robert Lee yeah man he’s a big old guy everyone’s got all these questions not
be gold and yet they never they can simply just ask someone from be gold to
be on their show so that’s what I’ve done so you’re gonna have a guy talk
about being gold and then we’ve got Mitchell now a lot of you are familiar
with Mitchell because he’s you know I’m from steam it but first we’re gonna
start with Richard Hart alright dude welcome to the show you there Ben I have
heard that you think bitcoins gonna get to 20,000 pretty soon someone told me it
was like December January you’re predicting what do you think about the
price right now you know are you in Sue’s door you come and are you
concerned about 2x at all as you can tell I’m not very concerned about 2x so
Richard take it away baby I think that subsequent to Wall Street having access
to the markets which comes either through Ledger X or the CME Group
through the Chicago Board of exchange CFTC licensing that that price would
very easily triple you could grab a double just based on organic growth and
good news and CNBC and such but with Wall Street coming in the amount of
money they have is just so gigantic that the price has to triple if you look at
the bubbles that Wall Street is blown up in housing real estate stocks
it’s just gigantic so when you take bubble inflating power of the stock
system and the existing financial Giants the one-percenters and then you multiply
that by the EZ bubble that comes from a thing that has no overhead basically a
giant accounting system which is Bitcoin those two bubbles combined is calling
for triples an understatement as far as I’m concerned so if if Wall Street
doesn’t get in and we’re just restricted well not if they don’t get in but if
they don’t get in by Christmas which is my prediction then I would downgrade my
estimate from 20k by Christmas to 10k by Christmas based on organic growth now we
are at a problem right now with price where we’ve run up against this linear
rather logarithmic trend line which historically bitcoin has bounced off of
very hard and you know depending on how you draw your your lines on your chart
were kind of bouncing off of support at the 70-200 level so we’ve we’ve passed
the linear the logarithmic trendline and now the resistance has become support
however there is a chance that it doesn’t hold and then we’re debt we’re
good for a 10% drop a little shake out if we shake out you know hard enough
then we’ll drop up a 30% maybe even 40% so this is very easy you just put your
chart in logarithmic look back in the past draw the line on the bottom line
and tops you’re gonna see that we bounce around in that channel and we’re at the
top of that channel now so we’re gonna have a paradigm shift will blow right
through and just guys the limit we would go parabolic you know end of 2013 style
or 2012 a bit of the song you can’t remember and then or we bounce down for
a 10 to maybe 30 percent retracement if that that logarithmic trendline holds
that was the price question did you have another question yeah well first of all
I think I can conclude there by saying have a strong hand people there it could
go down but in the long run it’s gonna go up by quite a bit yeah the second
part was what do you think about this 2x stuff I think that the 2x people are a
bunch of jerk off losers and did any systems that you try
to make its told not to curse and I didn’t curse like yeah yeah you know a
lot of intelligent people try to do what they think is the best upgrades and
improvements they can to a global decentralized censorship resistance
consensus system which is Bitcoin and what they don’t understand is that
anytime you as a central party attempt to influence control or even improve the
system you destroy the system every single change that occurs in this system
needs to come from the many and go to the few if it goes from the few to the
many then any bad actor any bad person any bad entity or any bad government
could come handcuff you and make you change the system so all of the changes
and improvements to this system must come from the many to the few and you
know otherwise intelligent useful smart people don’t understand that part of the
game they don’t understand why eagled failed and why chumming cash failed and
why other electronic replacements for currency have failed and it’s because
bad people will come and lock your ass up so if you don’t want the system to
fail you have to stop trying to improve it from having back room literally back
room signed agreements from central parties doesn’t matter if their
intentions are good doesn’t matter if you know they’re even good ideas the
first and most important thing is censorship resistance and then security
and then adoption and price and everything else is last block size
throughput all that other stuff they’re add-ons they’re not court
requirements so I think I think s2x will fail and hopefully the most important
thing that the s2x guys could do will be to add replay protection and give us
free tokens give us free money then they get free money we get free money
everybody gets free money you know so let’s hope that they discover that they
do not have consensus and that they’re not really upgrading the network and
that if they were to successfully upgrade the network in any way it would
be harmful because now there’s central parties that can be made to harm the
network if you can prove it you can right so yeah that’s my position on this
2x very nice get show us the free crypto dividends put in that replay protection
get rid of the drama dudes because you’re not gonna win count that like
button people if you loved what Richard Hart said
so let’s this is a good segue into Robert Robert uh what do you think about
2x how does it relate to be gold um I have been telling people for a long time
that be gold is the friendly fork they’re not trying not do harm to
Bitcoin they’re just doing a new thing Robert take it away hey Adam well it’s a
tremendous pleasure for me to be on your show and to follow up the great Richard
Hart it’s just extraordinary but to get to my my answer about be gold
and be 2x segment 2x well first let me just give you my my take on the Segway
2x thing what I think might be going on just one conspiracy theory is that the
the Segway to X and the be cash people the be cash people just once said with
2x to take out the main Bitcoin chain to make it inoperable either through the
replay attack thing or just by taking enough of the hash rate away they just
want to kill it somehow and hope that the cash can slide ahead and be like oh
the only alternative is be cash we didn’t do the segment 2x things now
we’re the real Bitcoin and we’re the true
Craig riots or whatever whatever that thing’s gonna be but um my the thinking
behind be gold well what I was thinking when I saw that project the coder who’s
working on that and I saw his vision what he was trying to do and my idea was
to help him to build it into a a friendly fork that would compete with
the cash and the b2x tried to minimize them
to dilute attention to dilute market value from them to weaken them to make
the true bitcoins path to the dominance easier and based on what we seen from
when I started the project at least the metrics that I set myself Bitcoin price
was about four thousand now it’s over seven thousand look at the the B cash
price back then it was in the high teens Oh point point one eight point one seven
or so their coin now it’s it’s under ten it’s been down to five so we’ll see what
happens with Segway 2x but it’s not looking very good for Segway 2x it’s
only a matter of how much disruption it’s gonna cause it’s not gonna be the
upgrade that people like vidya Lingam are not saying that it’s an upgrade
trying to to put that a veneer on it but that’s that’s not gonna happen either so
hopefully it’s gonna fail and I think that by failing not just adds more fuel
to Bitcoin when people realize and not even the the top corporations can unite
to to impose their own vision on it so Eagles just playing a small role in that
and but it’s part of this this game of forks that’s going on I’d like a game of
forks you know go to get coming back to your be cash conspiracy theory I’m I
think we’ll talk about this later but yeah I think I think be cash is
gonna benefit from all the fun that that’s being thrown around and and there
will be a pump I mean it’s already started to pump but let’s go to give
everyone a quick update about be gold where does it stand when do you think
it’s going to go live because people ask me this every day how the hell’s the
test net coming along and all that well the test net went live about about a day
and a half ago and within the first hour there were 20,000 unique miners who had
jumped on the test net just to prepare their their systems for when the network
goes goes live so I don’t have a firm date for when the main that’s going to
go live it’s very important that all of the
the edge cases are sorted out and there’s security above all else they’re
not doing this for you know just for some artificial pump deadlines or
something like this there’s actually an idea behind Bitcoin gold which is to try
to perform a successful proof of work change on Bitcoin so that hopefully if
we can make this experiment a success six months a year from now we have a
Bitcoin Gold blockchain going in mind by equi hash and we have this global
network of Bitcoin gold GPU miners that hopefully in the future when Bitcoin
wants to change the proof of work from shop 56 because of these misbehaving
monopolists if that situation is getting worse then the the technical foundation
will be there or bitcoin to switch to so that that’s where we’re going that’s
kind of the long-term vision that we’re not trying to pave the way for Bitcoin
to free itself from the bad after suit and hurting it through the domination of
mining thank you very much for that update and some new information there
I’m sure the people out there loving it over there in the chat now let’s go over
to Mitchell in Portugal who is that you were at the steam fest that was going on
around there many people out here the watch this channel are familiar with
steam it and are from Earth Mitchell but Mitchell has been so busy in the
cryptocurrency space it just shows you how big this space is he’s doing things
it doesn’t don’t even deal with Bitcoin so Mitchell’s gonna tell us some stuff
that’s going on outside of Bitcoin with the singularity that net you were
telling me about and of course a steam it update also because people want to
hear what’s going on so take it away Mitchell right right great to be here
great to be here first thing you know I might have this tag here from steam fest
and steam fest is the conference for the steam it calm community organized by the
community so very exciting to see that come together
yeah everything is so different from how it used to be in a lot of ways we’ve
gone through some dramatic changes this year obviously on the Bitcoin side
things have exploded in terms of price and in terms of utility and people’s
interest in the technology which is fabulous to see yes there’s contention
on the one side but this is just what happens when you have what is
essentially a new paradigm for how do you want to store your value people
gonna fight over and open the centralized system people are gonna fork
it we’re clear I’m entirely ok with that even though it’s annoying in the mean
time to deal with and I don’t really worry about it thing I’m not sure
whether the Bitcoin experiment will succeed in the long term but I think
that a lot of these Forks are just going to be healthy for it as we begin to find
our feet culturally cuz on some of the other kinds of applications and
technologies so yes having this disinflationary currency not a currency
rather it’s interesting but what can we do using blockchain technology typically
to coordinate large groups of people on the create new kinds of value so that’s
what I did both with steam it incorporated and with singularity net
now let’s let’s talk about steam at first because that’s what uh you know
I’m very happy to welcome the steam community here to Lisbon and Portugal we
had hundreds of people who are together right now in the Monta Claudel and the
Lisbon secret spots actually come together and just celebrate all the new
technology meet each other some people for the first time a lot of them for the
first time talk about their experiences their interactions and a lot of new
information about the project was released so for those of you who aren’t
familiar with steam steam is this public blog frame based on oh it’s a graphene
base chain using Depot’s that is designed to serve applications in social
media particularly come and they recently launched a feature called SMPS
which will allow anybody to build their own token or to launch their own token
with a minimal amount of time and energy that’s pegged to steam and build honesty
in blockchain a lot of a lot of little idle parties in
social media with content are to come to the service interested in to
build on it and the important part of their it’s not just like okay the steam
community has grown ridiculously large into the hundreds of thousands of people
and now they have this new technology it works the interesting part is regarding
SM T’s is that people actually want to use them a lot of businesses businesses
that you know not necessarily things that you would consider ahead of the
curve or coming and saying hmm can I use a blockchain based incentive can I use
the blockchain based value system in order to coordinate my community and
generate value for my business in addition to my users and this is this is
an interesting change that’s going on there’s concerns about of course the
bubbling crypto and how things are exploding but when you look at real
businesses ask these kinds of questions people already have millions of users
and they’re saying hey how can we apply this to our existing structures in a way
that produces more net value for everybody okay that’s when we know that
blockchain is starting to break out it’s starting to actually see utility whether
those experiments will work you know that remains to be seen of course but
that interest is there and now these things are happening and SM T’s on Steam
will facilitate that so that’s the the first part about steam additionally if
anybody’s in Lisbon you guys are welcome to give me a shout I’m at Savannah con
steam or you can message me on Twitter the other matter was singularity net
singularity net is a project that I’m advising that is doing some really
strange and interesting things it’s a distributed protocol for coordinating
artificial intelligence and related services and then providing access to a
global market for the purposes of buying and selling them it came out of the
minds of bankotsu and David Hansen Bangert Saul is a
famous single Italian and AI developer based in Hong Kong and of course our de
Hansen is basically the creators of the most well-known and famous humanoid
robots in the world these guys are top-notch developers
roboticists in their own field and they were working on something called web
mind in the mid 2000s which was an attempt to create a distributed
artificial intelligence ecosystem so how could you get or create multiple machine
learning algorithms and start coordinating coordinating them at scale
and making them easy to coordinate allow a bunch of parties to come and create
their own technology hook it into the network and create more and more utility
as a result and that project failed because they had no way of having secure
consensus so after a lot of trials last year and earlier this year they
concluded that okay a blockchain was suitable to perform these kinds of
functions as a value transfer layer and they are begin developing their
blockchain system to coordinate artificial intelligence technology so
it’s a very strange very exciting project to see developed yeah that is
definitely different something I’ve not heard of before and going back to your
steam it steam when you were talking about I had no idea about people
building it seems like issuing tokens on top of it or whatever whatever you
describe there I don’t when was that information released to the public so
yeah good question EMTs were first announced at tokin
summit but not clarified at all tokens from that being in June with esteemed
William McGuire and then they were fleshed out in September a little bit
with a paper and additional work has come out along with the rebranding of
the steam it com UX this came out yesterday I believe for the launch of
steam fester if you go to steam accom right now you notice that some things
look a little bit different and it’s just the first phase of the UX changes
that are coming so yeah finally the design was taken okay all right projects
we have another guest let me preface that with the fact that I’m not a
developer so depending on the technicality of the questions I may or
may not be able to provide value Richard all right – if I can cool so congrats on
building a reddit with money if it works that’s cool sure yeah
my a big problem I have with singularity
supporters and transhumanists in general is that they dream too much and they’re
dreaming prevents them from doing anything yes so right now I’m a rotting
piece of meat and I will be dead soon just like everyone in my family tree
before me and I must choose to either fight that nearly 100% likely outcome
using technology that is near-term things like dining exercise maybe CRISPR
maybe cas9 to help you know replace stuff that’s gone missing we have
technology that’s been worked on for quite a few years now and is starting to
find utility or I could focus on things that look really cool in science fiction
but are 20 to 50 years out so ColdFusion has been 20 years out for 50 years every
year it’s still 20 years out it never comes closer and much of AI general AI
and much of what cingulate Aryans want is too far out and like all of the
Futurists and transhumanists and people that believe in the singularity before
them they will die from boring crappy stuff like heart disease and cancer just
like everyone else in their family tree did because their time frame has shifted
too far into the future so there’s a mission of mine that’s way
down on my list right now I’m trying to get the smart creative intelligent
useful commercially productive transhumanist cingulate Aryans and
futurists to shift their timeframes from the very far future which they’re not
going to get to see because they’re gonna be very dead into the more near
term so give you an example are we gonna get struck by a meteor that will kill
everyone on this planet yes we are are we gonna detect it in time and shift it
maybe we’re not really working on it now do I support us not really working on it
yes I do why because it’s extremely unlikely so
I’m a hundred percent to diet cancer heart disease
really 80% and as fat as I am we’ll call it 90% so about 90% to diet cancer heart
disease if I had the option of taking the research funding of United States
and putting it towards cingulate air Singletary an idea it’s like digitizing
human consciousness which is pretty stupid when 4chan hacks your soul let me
tell you digital security is a is a war of attrition it flip-flops between you
know the attackers when sometimes the defenders when sometimes if your soul
becomes digital you’re tucked because you’re not going to be the most funded
party you’re not going to be able to actually protect your own soul it’s very
stupid not to mention the meat is the memory the memory doesn’t live in the
meat so you know if you if you think you can upload your mind you’re wrong we’ll
need to recreate every piece of meat that is your mind in order to do that so
first mind uploading doesn’t work second future is transient of cingulate
Ariens vision is too far in the future they’re gonna be tucking dead they did
to shift their timeframes more locally and work on the boring meat space third
there ain’t no problem with the eyes talking to each other if you understand
AI training and data sets and adversarial networks there’s huge
bandwidth constraints and the difference between a supercomputer in a normal
computer for the most part is the number of nodes the number of cores and the
communication between them you know if you didn’t need fast communication
between them everyone just would run it distributed over the internet and
everyone could just plug in their own computer but the rate at which those
nodes can speak to each other is the the main problem and so in the AI space the
like may be communicating amongst a eyes is problem number 75 in their list of
problems sure no higher problems or training data you know getting the
hardware you have to to work with the open source software in a great way like
if you use tensorflow or I don’t know there’s some other kiosks I think is
another one that’s newer so anyway congrats on steam it stop wasting your
time with transhumanist crab come to the boring meat space we need more medicine
more things that are near-term that might come you know when we’re alive
here gay thing is probably just buzzwords but
if you make a lot of money and transition it into something good
great sure do you mind if I respond to that please
it’s the idea so firstly on the meteor note I think that’s that’s more likely
than not and my concern is like I have the same concern to you why are we
funding that especially since when we look at the archaeological and
historical record strange cosmic impacts were more common than the than they
first seemed but you know that’s a little of a different discussion second
with regards to pragmatism or with regards to the single latarian project
I’m not a transhumanist and not a cingulate Arian I try to be to the
utmost of my ability ruthlessly pragmatic because I have sent concerns
that you do life is too short to waste on bull projects and stupid ideas
and it’s not simply wasting it if we encourage other people to waste it then
we make the mistake of miss allocating capital and resources and we’re never
necessarily going to get those back and I think it’s if we have a knowledge that
something is a waste of our time we it’s immoral it’s morally bad to throw
resources and time it’s just like you’re literally wasting things it’s like
feeding chaos and and crushing of one’s soul when you look behind and say wow
what I did there was meaningless with me and that really frustrates me
I certainly don’t want to live that life now in the case of singularity net when
they first approached me I was like guys this looks trippy it’s nice that you
have this ideas but I had precisely the same approach that you did I was like
there’s real projects for me to be working on there’s actual problems that
we need solves or interesting experiments social and incentive
structure experiments that we could be running here that could improve people’s
lives over the next you know 1 year 2 years things we could work on building
blockchain based infrastructure for finance or 5 or 10-year projects because
there’s really big fish to fry so why the hell should I give a damn about your
AI project I don’t even know that much about that yeah and what really tried to
push me over the edge was meeting the team and seeing the demand from the
various parties that was coming in their existing AI work and there are their
goals of course in facilitating a as they call it a longtail a art market for
AI and the big partners who they have on board who are
very well in large established corporations who want to push this
forward and I was like whom you know what’s going on here what are these
people doing I need to understand what the actual market application is how
this makes people’s lives that are as soon as it launches not some kind of AGI
project although they want to build artificial general intelligence that’s
good for them that’s not my primary concern my primary concern is well can
you build value can’t you create economic value today in a way that
improves the economy in such a way that those benefits pass to many people
can you take the rewards of the technology that these stuffs are
building would be concentrated in their hands which is what we’re seeing with
some of the applications that people are going to be putting on the on the
network at an early stage that’s what brought me over to come and work with
them the practical expressions like wow you can create real economic value and
change people’s lives here by giving them a network for them to offer their
services all over the world and that as you said as you noted that’s not going
to work for a lot of things not a lot of components of AI and I totally agree
with that but it’ll work for some things and it’s something we don’t have that
present so that’s like my response there my interest in the project and my reason
for supporting it is a business one because there’s a market demand for the
service and because I I hope insofar as markets work that market demand says
that okay there’s actual value to be created here maybe someone should go out
and do that and like you I don’t want people to waste their time on stupid
things like that that would be sold there’s a chance that that the idea of
the business isn’t properly described by middleware between AI devs maybe there’s
other utility that I don’t understand so not am I gonna say it’s a project it
could also be my explanation like I have to take full responsibility as a not a
developer myself so thank you for hearing it out and having you back
inauguration by the way everyone links below to all
these guys and what they’re talking about
pound that like button obviously if we’re talking about AI and all this
stuff there’s nothing to worry about with 2x people were the other things
there are other subject matters out there flow
around trip toll and that’s what you can take away from all of this Mitchell I
know you’re you actually have to go pretty soon but I want to ask you what
since we’re talking we’re way beyond Bitcoin right now I have one last way
beyond Bitcoin question for you I met a guy named Adam here in tel-aviv and he’s
working on this Zen protocol theme can you tell us quickly what you know about
that who’s like what the reason I bring this up is because it’s such a small
world I meet this guy Adam in Tel Aviv and you
know him and so because of that I bring up the Zen what this was the Zen
protocol thing what the heck okay so Adam that’s Adam Pirlo you’re
talking about Adam is a friend of mine he’s a lover of Finance and his whole
team is the lover of finance and when they looked at the occurrence which
they’re also a bunch of Bitcoin maximalist curiously enough so they
looked at the situation with Bitcoin they looked at the existing technologies
coming about most especially they looked at rootstock and they concluded that
okay we would like more of a future economy to be based on Bitcoin and we
don’t think rootstock is necessarily going to perform these functions
adequately and so they designed their owns from our contract platform which is
called the same protocol that they claim is specifically optimized for use with
Bitcoin as a number of interesting very curious technical innovations I would
say incremental technical innovations that are worth looking at for but it’s
more like a competitor for a theory UM’s EVM that the root struct is gonna be
taking than than anything else now the most interesting part about gem protocol
is that it of course watches so to speak the Bitcoin blockchain so that there’s
some there’s a kind of functionality between the two that could provide
serious future utility for example it allows you to have publicly transparent
collateral when you’re making options contracts so you could have your options
contract on the same protocol and then you could have collateral tied up in
Bitcoin that’s provably backing that contract and that’s very interesting
because it opens up the ability to create a lot of new and interesting
contracts in a decentralized way where for people who might necessarily be able
to do it otherwise so as Adam would describe it to me he creates a long
tails for financial instruments and derivatives
and that’s and the the latter part is the reason that I think the project is
most interesting it would let us roll out all sorts of interesting financial
instruments on to the Bitcoin blockchain why we don’t really have a conception as
that where that innovation could go yet in addition there’s lots of businesses
looking at the applying that particular protocol already so it’s good on the
business development side as well you’ll be able to do other things with it –
like icos and stuff but that’s not really interesting to me that’s valuable
than many people no doubt but the most valuable part is bringing more financial
instruments to Bitcoin and bringing alternatives like completely separate
alternatives to the way that the etherium uvm operates to the table so it
should be a very exciting experiment to see run they’re they’re very good
thinkers and they really believe in Bitcoin and they’re gonna put 100% of
their their a game behind it alright pound that like button Bitcoin
maximalist alright before we move on to the next subjects does anyone have any
questions for anyone on the panel any panel members have we just said so many
things kind it is so many discussions Robert you’ve got any questions make
sure you got any questions Richard any questions and they’re gonna comment yes
edgert cyl I’m not sure I’m pronouncing that right hertzel is not the easiest
thing spell geo ERT Zeo yeah you want to see a eye to cure longevity you want to
do a lot of crazy stuff I think the time frames a little too far out but I love
the idea at least he’s trying to do the right thing
at least he’s interested in curing the right thing so I would actually give a
shout out to the project go check out Ben Girt CIL’s singularity doesn’t it
maybe stimulate out Lisa VI Oh what is it net dot IO man you guys are gonna
lose a lot of traffic to the normal Doug I know man I know I know I believe me
I’m feeling the pain oh yeah so go to the dot IO of the dotnet oh tuck Google
all right all right all right the Robert did you
have something steak yeah I was just gonna say I’ve been hurt Saul I saw his
stuff on YouTube a number of years before I even got involved in Bitcoin I
kind of wish I had learned about them in reverse order like some others learned
about Bitcoin earlier in the years when I 2009 or so when I first heard about
Ben girls worked on it yeah but yeah I don’t know what the future holds for his
work but I’m sure it’s gonna be good stuff yeah like it would like Wow
incremental ism sometimes even if you know you can’t hit a home run on a
certain project sometime there’s value in taking the first steps so that people
who come after you can can get there so maybe some of these people who are doing
this really ambitious work on AI maybe they won’t achieve the and
world-changing stuff but someone has to take the first steps and it could a good
point about it would have been great to get into Bitcoin first because then you
could make a lot of money with bitcoin and then invest all that into awesome AI
technologies instead of you know dreaming about AI first and then getting
in the Bitcoin late I see what you mean there my way to get into Bitcoin and
that’s right and it still it is still early people it is still early okay so
let’s let’s circle back into the traditional cryptocurrency and I want to
ask I gotta get going sir all right let me just say my goodbyes and one comment
I very much like the approach these two gentlemen with regard to the incremental
improvement from my perspective if the kind of work that we’re doing in this
space for all the madness that goes on can save I don’t know globe you know
half a percent of their living costs per day then it will be a momentous
achievement because that’s how you make progress in this world you go step by
step yes and you make people happy in simple
practical ways but like my approach gentlemen it’s been it’s
been a pleasure thank you for your time of course thank you to our gracious
hosts I will with you and these links are below and if you want to give me any
more links I’ll put them on after the show too so you know you’re talking
about the incremental approach and I guess the slow and steady I want to say
Robert you’re doing over at beagle that’s what you guys are doing all right
see is at B goal is taking their time they’re not rushing they’re not jumping
into this type of thing they’re they’re doing it slowly and they’re doing it
carefully and I just wonder if this people are like well what are they gonna
do replay position where they gonna do this why haven’t they started yet and
Robert you guys are taking your time as you don’t want it to break you wanted to
be well when it goes live you want it to work and you got a also keep in mind
that the other the other Forks that we’re talking about have huge
corporations of people who claim to have huge amounts of Bitcoin and who own
massive mining conglomerates backing these ports this this part was started
by one guy as a as a hobby he has up he has a full-time job at a major tech
company he was doing this in his off hours so that’s how Bitcoin gold got
started but the idea was just so good and as we iterated on the idea and
brought in more people and you know filtered the good ideas down and the
community to started growing it became a lot bigger than anyone would have
thought from starting off its just an idea like that and so that’s where we
are with with beagle and it shows that it’s the idea can over if it’s a good
idea that can overcompensate for not having the kind of celebrity supporters
or in corporate factions that other Forex having so that’s what we’re trying
to prove in this experiment and we’ll see what happens with in the coming
months yeah it should it should be interesting see what what the market is
going to determine what it’s worth and how it’s gonna compare to 2x and B cash
etcetera I want to ask Richard what do you do you have any specific thoughts on
this egle situation as a friendly fork and
has your mind changed about crypto dividends friendly forks unfriendly
forks since the last time we talked is like I’ve heard some people tell me like
Richards it doesn’t he’s not he doesn’t seem to be a big fan of forks but I
wanted to hear it straight from you so go ahead okay I think every fork with
replay protection is a beautiful experiment on things that might be great
so if you fork and copy the best consensus code that exists in the entire
world that’s a heck of a good starting place and then if you improve on it
change it experiment with it and actually find a community to support it
you know if you if you do a proof-of-work change like be gold it’s
good as long as people mine it you’ve on board and a bunch of great users you’ve
got you know you’ve copied the UT XO and now they can go and compete you know
it’s another cryptocurrency that slightly competes and more power to them
and your option if you don’t if you don’t like Forks your option is a bunch
of scamming I SEOs pump-and-dump deals people put money in and then they never
get back out so I’d much rather have honest replay protection Forks for
innovation and experimentation instead of scam be pumpin up by cos we’re
starting place is vaporware and it transitions into more vapor where I mean
with a with a fork of Bitcoin you’re starting at the best possible place
you’ve got an onboard set of users that are the most likely to be able to
interact in that ecosystem it’s a great recipe for experimentation much superior
recipe than ICS or startups in general completely for friendly force yeah so
there he just made it very clear and thank you for clarifying that because
you know you read all these comments in the comments section it’s better just to
ask the source and that was straight from the horse’s mouth right there he’s
a fan of friendly Forks as am i I mean what what’s the harm is there definitely
better than I cos I cos ask you to give them money and then they might give you
something this is free money this is these from
they’re giving you something if you hold the brute coin if you if you hold the
Bitcoin so it is gonna be an interesting 2018 to see who else does this if anyone
else does this I should say one more thing about how good these forks are if
you wanted to see all to go down then bitcoin go up they used to move kind of
am pleased to amplify bitcoin bitcoin went out pulse went up more quickly when
it down alts went down more now because of forks and because of these crypto
dividends when Bitcoin goes up the alts die I like that I like it when the elds
dying I’ll be back to the real coin that needs the liquidity to compete against
global currencies it is a liquidity war currency is liquidity word the one with
the largest mass of the quiddity is the better currency usually so these Forks
and these crypto dividends are the only way that I’ve ever seen and may ever see
that will cause the ulta to go down and push Bitcoin up and I love that love it
baby town that lair would it so imagine the Bitcoin blockchain has evolved into
something like the seven-headed Hydra from Greek Greek mythology where it has
multiple heads emerging the first head was B cash and then we had I don’t know
where no one thought of Eagle will come out now we’re having a 2 X and a whole
you know read Creighton has his own Fork of Eagle now there’s gonna be dozens of
of new Forks of Bitcoin over the coming year I am a good one bigger yeah the
good ones hopefully some of the good innovations from some of the courts will
eventually get incorporated into the main Bitcoin in some future hard fork
what one of the analogy that I like to use for all coins and other
cryptocurrencies is that bitcoins the shopping mall and all the alt coins or
the food court so you would think that more alt coins is worse because they’re
gonna take away some money from the mall it’s not the case more little
restaurants in the food court though they compete with each other
they bring more demand to the shopping mall so all of these
even scammy ICO altcoins for the most part are actually still good for
Bitcoin financially because you got a buy Bitcoin to buy them and they’re just
little food stalls in the food court of the Bitcoin shopping mall see analogy I
use and the forks are even better because it makes people who hold alts
have an opportunity cost to holding the alts instead of Bitcoin so anyone you
know cuz thinking straight at least you might want to get into bitcoins before
if before the fork if they think that forts then I have any value in the
market agree yeah that’s a good way of phrasing it very good analogies were
thrown around here to there Richard that was very good speaking of all coins you
Richard you’ve been you’ve been outspoken someone say about aetherium
and I’ve been looking at etherium and I think as a platform to distribute tokens
it’s the best one out there now if that is that a legitimate use case for
anything I mean I guess that’s arguable but I think it’s a good if you want to
distribute a token if you want to do it for free or for the Charter people it
seems to be pretty good at that what do you think about that or yeah I mean
they’re you still down on the theory I’m assuming you are but go ahead so I I
think aetherium is a giant security nightmare
they have had endless security failures some of those failures directly because
of decisions made in the etherium EVM like requiring you to declare a variable
as private and then if you don’t you lose all your money which is what
happened with the multi-sig hack and parody you know they they didn’t use the
EVM the way they should have and the EVM was designed poorly so as to make people
commonly make mistakes so basically aetherium because of their
bad security model and bad choices in the EVM and bad choices and having
competing implementations not a quorum of implementations
but competing real time death won’t agree with parity and then you have to
turn your wallet off that’s it the network’s down I mean their network has
gone down in 2017 four or five times the exchange wallets have been turned off
that doesn’t happen in Bitcoin well maybe when these forks happen they get
paused for a shorter period of time so you know they created a sand trap of a
quicksand trap to get developers to try and use buggy very very hard not to make
buggy code I mean if you write code bugs is the law you’re going to have bugs and
so if you write code in aetherium when you have those bugs you lose all your
money so the DAO got hacked the multi-sig and
parity got hacked their contracts are getting hacked left and right and it’s
not avoidable if you make a turing-complete language you have
created the maximum security surface attack surface where you’ll have the
maximum number of bugs it becomes impossible to secure so that ecosystem
will continue to lose money to hacks forever basically now if you try to
implement a formalized rule set for your programming language you still get
hacked because formalization just fails and all the points outside of the
formalization all the other things that input data those things fail can’t test
them all now that’s just the problems technically they also have problems with
money all these idiots have given their money to ICS the ICO is take their money
and then dump it for gold cash stocks and some of them for some reason haven’t
done that yet so as the price goes down from 0.15 0.8 0.7 0.6 5 4.4 oh now I
think yeah so guess what those ICO guys that actually hold all the etherium
they’re gonna race for the exits because whoever gets out first whatever pump and
dump scammer gets out first gets a lot of real money for his if you’re in
tokens and I don’t think we’ve even seen the race for the exits yet so if you if
you thought aetherium was a good deal at point 4 oh boy I’ll bet you’ll love it
at point o 4 right so you know I now that being said I mean if I haven’t
made the decision yet but on my ICO probably I hate that term forget I said
that when I have this token thing that’s a staff that’s accredited investors own
lien blah blah blah whatever that’s called yeah that can’t that prop it’s a
contract for future tokens when that product exists I might use some the
minimum number of parts possible from the etherion project maybe maybe so I
might find a way to make it less risky to use for my use case ok overall if
there’s any other way to do it I’d rather do it any other way so it’s got
different stock was up I’d rather use that probably okay so let me ask you a
question it kind of deals with this when where do you see the Bitcoin dominance
being in three months since you you are saying it theory on which is the number
two cryptic are see right now it’s it’s going to be worth less soon enough so
you you are clearly bullish I think on Bitcoin dominance going up do you we’re
at least eighty percent okay at least eighty percent because I mean Wall
Street has so much money and it’s coming into the real blue chip the real Bitcoin
that’s it so like you know how many successful Depp’s are there in the
etherium ecosystem zero how many hacks are there tons how much Google searches
they’re like eight times less Google searches for aetherium the Bitcoin now
but we have a blind diversification by these Wall Street people just they’re
coming in a little bit coin we are going to have to diversify into some of the
these other ones on people that are smart enough to diversify or smart
enough not to buy a chart that looks like this they’d rather diversify a
thing like they’ll diversify across things doing this right so yeah I don’t
I don’t think aquiline diversification will save a project that’s gone from
0.15 2.40 that’s already down four times 4x
from its peak to bitcoin that’s bad and ain’t getting better very very very
interesting at one and one last question for you here you’ve apparently had a be
cash guest on or something I know you’re not to be a be cash fan here but you are
a number span you’re a guy who admits that this is a crazy market people just
buy into things pump up things with the upcoming 2x with all the flood that’s
going around with some big players behind be cash and you know Robert
mentioned a conspiracy theory do you see P cash being pumped up it’s already
approaching point one I would have to think it’s going to go over point one
pretty soon and not based on technicals just based on people’s insanity and on
rumors and FUD so if you didn’t pump it you don’t know when they’re gonna dump
it so if you’re the last mover and you’re the last guy to notice and you
didn’t buy it one of those cheap near like oh look this thing’s going up I’m
gonna get in there’s a chance pretty good chance that as soon as you get in
they dump it because you were the last guy to know so if you’re the last guy to
know on the pump you’re gonna be the last guy to know in the dump and since
you didn’t pump it you don’t know when it’s gonna dump so right now the play is
that kind of pump be Cash’s price up to try and attack the network again hope
STX causes some drama and hope they can get some more miners but as you saw they
already took half the miners and it didn’t mean anything no one cared now
maybe they’ll get 40% of the miners maybe they’ll get sixty maybe look at 85
no one cares it doesn’t matter Network difficulty will readjust fees
will go up miners will come and get the new fees at all self balances no big
deal right so they’re gonna try their little pump and dump scam again where
they drive the price up hope to get some miners hope to cause some drama hose to
us s2x causes some problems but when they fail again just like they did the
first time when they had a better chance at a much better chance the first time
is people to know that these things are likely to fail because they’d never seen
one takeover attempt fail before that was the first time they got half the
miners maybe it’ll work it didn’t work right so now their
chances are less because now let’s say s 2x becomes its own token now they’ve got
to compete against two parties they’ve got to compete against s 2x miners and
Bitcoin core miners that leaves less miners left over for their crap coin so
sure short-term price good pump will it dump yes will they succeed no they had
their chance they failed and I wouldn’t suggest being
the last guy in on a pump and dump because you’re gonna be holding the bag
when they flip the switch excellent commentary I agree with you I see all
these dudes on Twitter and maybe they’re not even real people I don’t know they
seem they seem so not you either like B cash is the real Bitcoin oh it’s going
up well I mean it’s I understand why people want to hype their own coin I
just don’t understand why people won’t think this is their coin I don’t I don’t
know why anyone wouldn’t even be behind this I guess it’s the dream of having
the next Bitcoin I don’t know for me it’s so simple and it’s always been so
simple Owen the real Bitcoin never sell it and
just live it baby because a year ago it was $700 now it’s $7,000 I mean what
else can I say it’s that simple it really is that simple sometimes and yeah
it’s short term sure return there gonna be some problems so what think long term
people yes Robert yeah I think that’s one of the best ways you can tell who is
a scammer what’s a scan and what’s not as if
someone’s telling you trying to get you to give up your Bitcoin when I when I
first discovered you about a year ago your show one of the things I liked
about you you see we’re telling people always hold your Bitcoin whatever other
advice whatever are the plays that are out there are out there just don’t sell
your Bitcoin and you know you look at the be cash Fork Rocketman woohoo he
went on a there was a conference a lot of conference in September and he
claimed that he sold all of his Bitcoin for be cash so obviously he’s trying to
get other people to follow him and do that so you’re trying to tell people to
sell their Bitcoin you’re a scammer or you’re an idiot but uh you know Bitcoin
gold we never told people to sell their Bitcoin for Bitcoin
gold and say we told people buy Bitcoin before work so you can get some of this
crypto dividend for free I never want to make people give away their Bitcoin
because there’s nothing more valuable in the world of money so true so true i won
the check I want to thank Boris out in the super chat for the 7 Australian
dollars all right we’re at the end of show now it’s time for the conclusionary
thoughts Robert I’m gonna I’m gonna let you start give us some conclusionary big
old thoughts say whatever’s on your mind give links give updates just take away
the floors yours alright let me just say thank you for having me on your show
it’s been incredible I’ve you know my concluding thing I’ll say about Eagle
today is that remember this is just an idea it’s not it doesn’t live or die
with one one day or one you know one hunts at a certain time this is a
long-term thing it’s gonna have multiple iterations multiple dimensions this is
part of bitcoins evolution so just just stay tuned and yes I you know what I get
this feeling that there will be more people holding on to their beagle than
we’re holding on to their be cash and I think people have learned how these how
these things work now how these it’s a way let me I forgot to say let me just
say this is a way for people to it is a way for people to express their
political opinion relative to the other Forks like B to X or B cash if you
really despise those other ones you want to dump those you think a friendly fork
is okay maybe you want to hold better or buy some because people can see in the
charts B gold price being competitive or going higher than some of those on
hostile Forks that would send a message I think so that’s it that’s an
interesting point I would love to see the friendly fork do better than the
hostile ones I don’t know if we live in that world or not but we shall see we
shall see all right uh surely your your conclusionary thoughts
anything you’d like to add anything just anything sure um long-term Wall Street’s
getting in might be one month might be two months might be three months we’re
gonna grab an easy triple for Wall Street gets in we’re up against this
logarithmic trendline might have a 10% pullback might have a 30% pullback might
consolidate above the level and shoot right to the moon from here we’ll see
how it goes right and in the trading world I always say this time is
different this times never different so right now
I still believe in the log the blog trend where we bounce off of 72 to 73
hundred go down to maybe 6700 we’ll see right you got to let the market tell you
right now we’re in that decision zone is this support or is it resistance once we
get up and consolidate above or below it we’ll have more data fine hold Bitcoin
it’s the best you get all your crypto dividends you get all your friendly
Forks you know this is a social system this system only works because of checks
and balances of participants so if you don’t like what the s2x guys are doing
and you’d rather get free money with with some replay protection let them
know let them know tell them tell Jeff gars ik tell anyone that has power in
their facility ecosystem that you want your free token you don’t want any
contentious crap that’s it dude that is beautiful everyone have a strong hand
with your Bitcoin you never know what’s up next you never know what drama is up
next ignore the drama people all right thank
you to all of my guests it was a blast we’ll be back next week we do this every
Friday who knows what time it’ll be at but I do post a new show here every day
it’s not this week in Bitcoin everyday but it’s some show every day so i’m adam
meister the bitcoinmeister the disrupt meister remember subscribe this channel
like this video share this video pound that like button thanks again
everyone I’ll see you soon bye bye

22 thoughts on “This week in Bitcoin- 11-3-2017- $7400 BTC, Bgold, SingularityNET, Bcash pump, 2x”

  1. If you really think your chain will be the winning one, you wouldn't be begging the other chain to implement replay protection.

  2. If I headed BCash, I would have branded it as “Bitcoin China or Russia” and just play off the stupid geopolitical noise I hear from Alt media. Another scenario if Segwit2X looks like it’s going to flop in the near future, create another forked coin where BCash + Segwit2X combines into one coin. That combination in tech would be pretty interesting and boost the potential value of both from their respective communities. Hmm I guess that would be considered a reverse split or something in finance…

  3. 25:10 “Life is too short to waste on BS projects and stupid ideas” – Guest. Good show Adam! Love the pragmatism of your guests.

  4. Cool show, a lot went over my head though! Adam you have great hosting skills, always patient with your guests & let them have their say.

  5. OMFG!! I was such a fool..i should had listened to you ..I traded some Bitcoin for electroneum and got scammed. no coins no moble mining ..omg

  6. Wall Street is ready to jump in big? That depends on the globalized controllers…Never underestimate the power of De Rothschild Gang…..

    "If everyone tried to realise their Bitcoin wealth for millions, the market would dry up and the price would crash..And because investors know that could happen, there is every incentive to sell first. When the crash comes, and it cannot be too far away, it will be dramatic." – The Economist November 1, 2017

    Central bankers could be behind the whole sloppy & hasty fork to undermine BTC and send a vicious price drop and confusion so the cyber currency revolution gets a solid hit against its legitimacy. Remember the Rothschild central banking network is not ready to hand over their global control of the monetary system that they've held since Napoleonic Wars and solidified after President Wilson signed off on creation of the Federal Reserve on Jekyll Island Georgia back in mid 1900s.

    The Economist Mag just released an article trashing BTC price rise and finished article stating that those holding btc should expect a dramatic crash in the very near future. Economist is a Rothschild controlled MSM global fiat propaganda rag as is the BBC and so many other "legitimate news" sources. See link. Wonder it this was straight up threat or warning. How would the author know?

    ___________________________________________________________________________________________

    "If everyone tried to realise their Bitcoin wealth for millions, the market would dry up and the price would crash..And because investors know that could happen, there is every incentive to sell first. When the crash comes, and it cannot be too far away, it will be dramatic." – The Economist November 1, 2017

    https://www.economist.com/blogs/buttonwood/2017/11/greater-fool-theory-0

  7. 1st off I'm all in on BTC so I am hoping BTC keep moving up and succeeds in long run. Just be aware that the Rothschild controlled Economist Magazine just released an article trashing BTC and stating that traders should expect a dramatic crash [see link]. Why would they state that? Do they know something is coming as fork approaches?

    Also Trump Admin just put a guy from JP Morgan at head of trading office over at SEC…. he could be friendly or hostile. We know how JP Morgan's Jamie Dimon feels about BTC. – Trump is stacking Fed and SEC with Wall Street dudes who may have their marching orders…. Trump is also controlled and wealthy due to Central Banking systems that's connected to his global real estate empire so makes sense that he's quiet on the emergence of cyber currencies and is stacking D.C offices with those who may be prepping to regulate or undermine BTC in some way, shape or form.

    We have to be cognizant that every revolution has opposition. This is economic warfare make no mistake about it. The Rothschilds have always beat out any competitors to fiat system and instigated World Wars to succeed. The Central Banking Cartels will not just surrender planetary wealth to a network of tech people who threaten to upend a monetary system which they masterly engineered over the last two centuries.

    This is not fear mongering or FEAR PORN it is a reality check to understand the possible threats to BTC and block chain revolution in general. Do you really believe these guys are going to just sit on their hands and witness a transfer of wealth into a new system they have absolutely no control over? They are meeting in their banking war rooms as we speak. If they can create a massive breach or sell off then they blow out the confidence & can set back this digital monetary revolution. There are smart people behind block chain and BTC but there are more diabolical and ruthless people behind the Rothschild global central banking network.

    Why is segWit2x being done even though many experts see potential flaws that can jeopardize the block chain? Why so sloppy and careless? Wondering if either heavy U.S regulations are in the works or back door plans to undermine BTC stability, If these questions and concerns have no value then it would seem to me that we should consider all is well and don't worry about the big boys who control global wealth.

    https://www.economist.com/blogs/buttonwood/2017/11/greater-fool-theory-0

    https://www.reuters.com/article/us-usa-sec-redfearn/sec-names-jpmorgans-redfearn-as-director-of-trading-markets-idUSKBN1CN306

Leave a Reply

Your email address will not be published. Required fields are marked *