Wall street money yet weve just seen wall street money from hedge funds on the edges but wait till the big wall street money comes in then its then then its actually going to be even more surprised suppressed at the price suppression comes from the fact that there are folks that are accepting a big point iou as if its the real thing when we store our big and in exchange what we own is not decline its of a quaint iou and we have no idea whether the exchange has as promised more of those than they actually have in their reserves but all that said i think in the long run though all of these firms who are playing this 3 card monte game with decline will end up being wrecked in the next bear market sure the Crypto Hedge Fund is a big again from wall street and they generally show up late stage in the cycle and theres a lot of activity and a lot of easy money can be raised and a lot of bad bets can be made and. A lot of tears can be shed and it all happened quite quickly and the evidence of this would be found in the lambo dealers marketing directly to crypto holders you know they would fully expect at that point lamborghini to come out with a model expressly for a bit corners you know thats how much speculation that this was driving into the lamborghini market and. You know when you have the shots on the new lamborghini dealers talking about the latest investment craze dads generally top i remember in the 87 stock market they had a lot of reports of course dealers getting a lot of orders from the instant wealthy yuppies in 20 somethings on wall street of which i was one of them and that was the top of that market most people joined during the bubble cycle when our industry as an air force one on board people into this new thing. And then shortly often we get a crash and weve always seen in typically. 80 to 90 percent correction in some cases. But eventually that drives out all the forwards and all the people that were meant to be here and we focus on building and making Better Technology and Better Solutions and better ways of them boarding and that eventually leads to another. Big point history is always going to new highs so you were also around during the dot com bubble and burst and during that time what a lot of ordinary companies did in order to attract that hysterical capital was they added dot com to their name whatever the company was they were just add dot com here were seeing at the same Time Companies starting to add block chain to their name Long Island Iced Tea company as a block chain to their name and what happens of course at the same time the price of their stock does soar on the news of them adding blocks to their name. But heres a crazy story. From the Financial Press how people are like literally theres a mental breakdown here commodities expert is nonsense and ill never buy any 2 months later i bought stock in a fake blog Chain Company that was exposed as a fraud and dropped 33 percent in a single day that was it was a lot tweeting about Dennis GartmanDennis Gartman is a very well known guy on wall street he writes the gartman newsletter lots of big banks here on wall street buy his newsletter for his expertise on commodities he was on c n b c 2 months ago dissing hard how because it is nonsense and ill never buy any well apparently he had to inform his investors that hes basically made a disasters that lost big time on riots a blot chain remember this it was like a Biotech Company that suddenly out of the blue changed their name to a riot block and that they were going to become a block Chain Company instead and their share price like soared. Anyway 2018 we saw block stream launched a Payment Processing system with retailers block stream also noted that lightning was live on main that with 60 nodes operating as of january 18th 2018 and should be considered in testing lightning is a way to move because its very very quickly its for payments so you can essentially spend your because instantly and with very minimal fees it is the key to opening up a circular economy where people can start earning and spending fluidly so Lightning Network is this new layer that has been built on top of that coin its actually very similar to the layers that comprise the internet itself where 2 the base layer of the internet is this global flooding broadcast mechanism which would never be able to scale to the levels that we see today with the internet so instead of the way. That the internet was scaled was by building other layers on top that make it more efficient specifically layers that allow you to route data so that it is going through a minimal number of nodes on that network to reach its final destination Lightning Network works in the same way where we are were entering into a bit coy and the block chain is the base layer but then building router the route of networks on top of it so that if you want to send a payment to someone on lightning instead of having to broadcast to the entire network like you do with bitcoin on the main block chain instead you are only talking to a few you know and really finding the shortest path to get to your final destination know that youre trying to pay every time youre broadcasting your transaction to the because network you talk to everyone its like if you want to go youre calling every single friend and saying im going out now but with lightning youre only talking to who you need to talk to when youre going to buy a coffee youre youre paying the person you want to pay in a channel running through a few other parties but its just one channel not to the entire network the way we look at this is that. Everybody collateralize in their apple shares or you know theres their stock or their gold purchase in india in big point is going to drive massive amounts of transactions onto the big block and if a 1000000000 people were going to try to do this next month this is them would collapse it couldnt handle it now whats great about what you were talking about lightning is that it provides a scale ability layer that levels the Playing Field for access right because because it wasnt really designed to be a universal payment layer that everybody could just publish their 10. 00 transaction onto it cant handle it right because it is actually very inefficient but it was designed to be decentralized not efficient thats the price of decentralization lightning actually adds a layer of efficiency on top thats not decentralize. Live. Leg. Length. Legs. Live. Live live. Live. Live. Live. Play. Live. Live. Live. And very well might continue watching on since last. A paradise with some ground and into a round experimentation field but agricultural chemicals we know that these chemicals have consequences they are major irritants theres no question otherwise why would that the Chemical Company workers themselves be geared up that suited up locals attempt to combat the on regulated experiments but often in day and you have many of these people who have one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of Environmental Research going on in hawaii whether these Companies Feel they can get away with this because the people have less political power. Well so Lightning Network solves the scale ability issue this is solved by slow builders who are building a Solid Foundation for the entire ecosystem of bitcoin big coin itself is layer one layer one needed to be secure safe and solid increasing the block size would have made it less safe then had we increase the block size now that the civil war is over Lightning Network can happen it could build layer 2 upon layer one just like our global system around us which is built upon gold which is layer one of the Global Financial system good analogy thats exactly right so you have the basic foundation of bitcoin which is solid improve themselves with 99. 999 percent up down and now we have layer 2 such as actions that are tied to but coin and lightning is a good example of that in lightning and looks like its a winner on march 15 2018 lightning labs c. E. O. Elizabeth stark announced the initial release of l n d 0. 4 beta for developers with the intent of making it available for testing purposes on the mean Network Prior to even decor and id always wondered you know why do you easily just say and money to people on the internet why is it so difficult you know if i hear a song i like just give that person say you know a dollar or read an article or a blog post or watch a video wise or not theres need of way to send value money on the internet. And im sure many of you know early you know the creators of the web envisioned in the early ninetys that there would be this native value payment layer for the internet for 2 error code but it never came to fruition back then you know we had things like how many cows. And there were a variety of potential proposals but at the end of the day they were centralized and of course as we know centralization comes all sorts of negative implications. So when i 1st heard about decline i thought wow ok heres finally this way for people to needlessly transact finally you know the credit underrated the internet of money but of course it turns out you know the decentralized nature means that if you can have 5. 00 to 10. 00 transactions per 2nd because you want to maintain that the Central Asian will thats not going to be able people to transact instantly immediately so much like the layered architecture of the internet the idea that equipment have this layered architecture made a lot of sense to me and kind of knowing about the way that the internet of all so thinking about the transaction layer from a quiet in this native way to transact you know why is it so easy right now for me to send a photo in any out interoperable standard why dont we have this interoperable standard for money and value and thats really what i see lightning out so this is when the term reckless came around because it was very much like the very very early days of bitcoin especially the 2009 and 10 when there were all sorts of bugs being found 184000000000 big quite imprinted its experimental there was a caution in in the basic when world people dont for good reasons cause people to lose money. And so there there was this sort of Rebellion Movement against the reckless mean that came up on. Twitter. And weve kind of been on the reckless side of well not always encouraging customers but at least you know taking risks ourselves i think that from a companys point you know the really reckless thing is not exposing your products to customers so that may be a bunch of money building something that nobody wants right well you know the culture of technology in america comes out of the Aerospace Business to a large degree and that gave us the. Test pilots and the astronauts and men living on the moon the builders of the cern particle accelerator in switzerland some would argue are being slightly reckless because they could in fact create a black hole in switzerland will gobble up all of our known reality right that seems reckless to me and yet they go ahead and do it because thats what we need to get to the next state of our consciousness and our global consciousness and our collective unconsciousness of whats bitcoin is a native currency of our collective unconscious our collective unconscious is also found on twitter where we all sputter and spout our words and i bring that up because jack dorsey in march of 20000 is revealed as investing in lightning labs Elizabeth Starks company he mentions liking and that he likes it and so youre getting those visionaries those thinkers those more of a Silicon Valley big ideas guy starting to say and jack dorsey himself says that on stage at consensus that bitcoin is. Money for the internet and that its the future. So from april 2800 to august 28th the big coin Lightning Network had a monthly growth rate of 15 percent the number of nodes increased from 15023000 the number of channels increased from 4211000 we are seeing know the transition from bit coy as a unit of account to. So as bitcoin gets 200008 110000000. 00 per bitcoin people are going to be referring to this a toshiba which is 100. 00 millionth of a bit coin interims of the 2nd layer and the importance of that to be queen as a unit of account i think its quite interesting that brad sherman this week. Actually said. The u. S. Dollar is a unit of account and its i mean if you know how we ended up with the fiesta. Some riding on top of gold you know that Credit System and all that stuff was built as a 2nd layer essentially on gold and yes that 2nd layer system whereby you know gold distortive fort knox and the bank of england. That the nodes those are the nodes in the gold system that allowed this global trade to emerge but it was always subject to cheating because its a centralized ledger so now we have a decentralized ledger lightning and now big point because of lightning and thats the stuff that will follow it does allow the going to threaten the whois dollar as a unit of account i say you know because it is a millennial 6 retirement account right like a lot of my friends its like no they dont necessarily have the traditional means they dont trust your initial Financial System and theres a good reason for that and its not just generational but you know a lot of us in the wake of say you know 8 and we say we dont trust these institutions and we know longer have faith in systems that previously you know people put a lot of faith into so you know my going to trust something that is backed by you know a global you know decentralized community and system that is not dependent upon any one nation so you are my going to back something you know that you know in the past you know had a lot of issues in may in the future you know fail in a variety of ways like im going to put my faith in the global decentralized technology at the end of the day right when gold was used as money people were able to hold onto a store of value and. I think about the long term think about the future and that in turn led to a much better way in which humans cooperate to one another lived in peace with one another where more creative were more productive accumulated capital got so its a and when as you see the opposite happen in periods where money is destroyed because when money is destroyed you know money is not expected to hold onto its value so people dont save much for the future they dont think much of the future they start thinking more and more of the day to day existence and that entire focus of this is making whether its personal or with others shifts towards the short term more and more and that leads to more conflict than leads to you know short termism capital consumption and. Increase in consumption drop in and saving. A good asian all of it can almost situation but also the all aspects of individual life in terms of peoples focus on the short run versus the long run and so bitcoin is an astonishing achievement for me because its an Online Technology that is essentially open for everyone around the world to access that allows them to use the hardest money ever invented and therefore allows everyone to shift their time preference in accordance with this money that is very hard to inflate that acts as a great store of value and that encourages people to shift towards long term thinking you know or time preference orientation more people being more cool put it to them collaborative and peaceful with one other and so you know this is where. The fight over gold and silver throughout the centuries and this pendulum swinging from the individual to the state and back and forth like this is now the great battle of our time and the battlefield is over big and were going to see whether the right to money best with the individual or with the state were going to see whether individuals have control over their own destiny and are able to make their own choices when it comes to Exchange Rates or whether that is going to be with with political we can we can then siphon off through senior expropriate confiscation their inflation with that which is a form of taxation without representation or due process of law it becomes a very by an area with big oil big point is now a technology that the individual can wield to enforce their individual rights when it comes to. The money into resources so we get into the 2nd half of 2018 well in fact the final quarter of 2018 and what happens in october of 2018 but krypto springs my own conference and lighten our work with. Lightning labs elizabeth stark and melton de mirrors and Amanda Fabiano of fidelity labs and we invited the no when my whole crowd there were no i. C. s by the way that i still market by this point had completely crashed because when prices were continuing to fall and this was a bear market this was generally a bear market where down by over 80 percent of the big question price from the all time high and this is always a time just like we covered back in 2013 and 14 this is a time for builders the movement of the 1st incarnation leads to the decentralized Decentralization Movement which is kind of the judo in my mind from what was about you know the individual. Movement is about integrating the whole planet right where the individual you have a bunch of self sovereigns who can function as a real global entity now in a decentralized model and thats how you fight socialism in my mind right because now everybody is incentivized to grow the pie. In a way that really integrates the physical world the Digital World and a bunch of prince started using the term but in a way thats highly incentivized if you look at how colonialism controlled the world ready it was really through a Financial System full of these very parasitic transactions with big corning we dont need in these parasites you and i can connect together we can exchange with everyone doing the fia. Are wonderful miss and you can compensate because own. Room it is the collective unconscious which means that bitcoin is everyone is thinking most purest expression of the collective unconscious and by extending that out technologically to everyone on earth whos got access to open port telephone or Internet Connection youve got the makings of a truly interesting stuff. Change in our consciousness assuming beings you know i think were on the verge of a major quantum evolutionary leap enabled by bitcoin i often ask the question why do you need 4050000 quadrillion calculations per 2nd to secure the block chain thats an awful lot of hashing power thats an awful lot of computer power do you really need all that computer patter whos really behind all this computer power where is this really going are we going to get to the point where every transaction ever conceived in the past and might ever occur in the future could be happening simultaneously and what does that do to the concept of time and linear progress and are. We not thinking about this in an even more profound and bigger way because it will in the end game be a reveal that in fact were just all one entity word there is no separation between us our minds are one we are of one mind and we can prove it on the block chain is an open source record of the fact that we are of one mind and time is a construct that we are manufacturing simply to better understand each other as an. Extraordinary act of love the block scene is a mutable say you will never disappear from history now to the extent history still matters. So you. Could just literally merino walk away and say we decided to treat those to a very special. And use of the path of the. But this time to go back to the punch line and thanks for putting on so she wouldnt bother. With. The only thing i didnt enjoy was my dancing on ice in moscow my dancing. On ice. Movie. Well thankfully we nailed it literally that we can. Put them so. Big it acceptable reject. So when you want to be president. Most wanted. To go it would be for us to see what will befall 3 of them or cant be good will. Industry always in the waters of. Course should. Be able to get up off the ground if sir began to. Hurt them freeze on the sounds of kind of mighty mean grown man like mislead essentially. Through his. Visual twisted away from the office or the joy out of his crew. They obviously did a kind of lunge for the web in one smiths and then when it happened on she swung at the observations didnt hit him i never saw any contact with. Any kind of went back to where they were so the master is back here that night again 15 feet apart at this point and thats when the officer pulled out his gun and even turned 3. Why a paradise with some all year round turned into a round the experimentation field for agricultural chemicals we know that these chemicals have consequences they are major irritants theres no question otherwise why would that the Chemical Company workers themselves be geared up and suited up locals attempt to combat the on regulated experiments that often in day you have many of these people where one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of Environmental Research going on in hawaii whether these Companies Feel they can get away with this because the people have less political power. And. When lawmakers manufacture consent its an instance of public wealth. When the room in clusters to protect themselves. When the financial merry go round lifts only the one percent. Thats not going all middle of the room signals. I mean real news in. The world. But. That. Was. The weeks top stories in. The u. S. Accuses iran of attacking 2 oil tankers in the gulf they claim that. Sabotage diplomacy. Survivors of the ground fire in london. Against 3 u. S. Companies whose products allegedly contributed to the tragedy. And indias. American in. The country trade states. This is the week you hear a lot international