Central bank and thats the bank of International Settlements so now that they see their members and their permission to network starting to break off and see the glory of because now theyre starting to really basket big quince proof of work algorithm needs replacing argues b. I guess study the proof of work p. O. W. Algorithm used by because in some other crypto currencies is not viable in the long term they said it needs to be replaced argues a new study from the bank of International Settlements because it is vulnerable to double spending or a 51 percent attack and also that the system stops awarding big coin as block rewards to minors and then once that happens out in 2140 the system will no longer be secure i dont think its going to become less secure it will are certain prosection are expecting. Huge boost in price and its not about the affair being able to mind the bitcoins but its about the transactions and the transaction fees that should make up for the minor rewards that article from the bank of International Settlements oh brewer not our problem its been working for 10 years really really well 8 so much that youre right in favor of not getting word or guess what maybe your system is not going to work in the future and you know its have more proof of keys and lets see who actually owns what and whats recorded on the option remember bitcoin is a system of social justice disguised as a get rich quick scheme and so the bank of International Settlement is the queen of get rich quick schemes it enables the Central Banks to print money without any collateral to their member banks who then use it to buy the dick leon is 400 50000000. 00 but it never trickles down to the actual wage earners that make the economy work so the bank of International Settlements head and everyone associated with a bank of International Settlements must be gobbled up by the big black hole. And also in 21000. 00 youre seeing more and more of these headlines all over the place about an enormous amount of electricity that bickley news is and appealing to millennial that dont use bitcoin it will destroy the planet even if for example did consume too much energy which it doesnt and there are certain there oh are very good arguments for because as a force for good in energy for example because it is extremely good for Renewable Energy why because Renewable Energies are for the most part intermittent so you dont decide when its sunny you dont decide when its windy and if you dont dont dont dont say when it rains for hydro electricity for example so youre producing energy while there is no consumption so what you have to do you have to store it we have to transport it very far. Very expensive and you news editor city as you transport it so it makes Renewable Energies more difficult to manage because you have these surpluses that you have to plan for so what are going to do the surplus a coal plant you put the coal in it burns you dont need to have to run all dont put cold in the oven so its if youre analyzing am i going to go for renewable or nonrenewable you look at renewables i have to deal with all these surpluses i might go for the call instead its much cheaper but with big coin where you can do is you can bring the big corn miner and the surplus so you cannot transport electricity over big distances but you can certainly transport a shipping container full of miners and that is for example what they do in canada for excess gas thats flared because its bad for the environment you cant store it what do you do you cant release it in the atmosphere its methane you need to do something with it thats my big one with it right so because it can make energy more liquid and if it makes energy more liquid it makes Energy Markets more efficient and if Energy Markets are more efficient people will always just go towards the thing that is consuming the least energy and whatevers consuming the least energy is also usually what has a less waste and byproduct and its usually Renewable Energy september 15th 2008 Lehman Brothers collapse the entire Financial System was on the verge of collapse everything was going under october 31st nakamoto printed the big queen white paper for peer to peer cache nov 26th 2008 quantitative easing began 10 years later we had q. E. One star at the same time as big coin 21010 years after the birth of bitcoin we have another statement from the Federal ReserveBank February 8th 21000. 00 fed says it is currently discussing using quantitative easing as a regular tool not just during emergencies or when the fed funds rate is at the 0 value and. Quantitative easing is now permanent. Its medieval doing many evil times the kings who control the economy for the serfs and they had coopted the priests who would then absolve them by allowing them to buy their way into heaven using paypal indulgences now we have the central bankers who have the papal indulgence system called money and the serfs in this case are everyone trying to get a new high screen t. V. High def t. V. Or some other trinket that the consumer economy is promising them and the price keeps going higher and higher but their wages on a relative basis go lower and lower and the permanent underclass keeps growing and the rabble risers are rising and the social unrest is increasing and the and the occupy wall street and all the uprisings we see all around the world are the result of irresponsible central bankers killing the value of that money that they say people need to earn to afford a lifestyle that hope either way is being pulled out from underneath them by this permanent upper caste of money printing banker priests who are equating their lawlessness with godliness and that is always and forever more be the basis of a global insurrection it took for hundreds of years the french hasnt accepted the divine right of their kings and then until one man made off their heads and then they chop their head off and you know the equivalent right now in this fiasco some of let them eat cake as well let them have food stamps let them have medicaid and theyll be fine right now youre ok but there will be one moments when you realize that there is big point that you can actually be totally free and on the same have the same rights because you do have the same rights you just havent asserted that you just dont know that you have that power to mr and big you know if its bubbles up in a grassroots way one by one person by person. And so eventually theyre not going to be able to acquire the resources to provide the food stamps you know theyre not going to be able to bail out those people with food stamps theyre not going to be chancellor on the 2nd ring a bell labs are going to be able to bail out the banks. Also in 21000 weve seen kaiser report receive the lightning torch this was the hash tag l. And trust chain and it was started by a guy with just an avatar to his name hold on not and the tweet was to max kaiser its time to pick up the hash tag l and trust chain soon max that was on february 8th 21000 you responded should do it while recording kaiser report he wrote back yes i sounds like the perfect plan. Oh you received it and i know i know my dad. Oh my oh my oldest 1st 2nd yet you had to hold the camera down and just dont put your fingers in front of it ok oh and trust chain received this is i thank you alina soto she. Ok. Now were going to send it thank you to. Hold on not for starting the whole thing thank you for making it blow up all the lane developers. I think a. Smart. Ass. Plus. Live. Live. Live. Live. Live live. Live. Live live. Live live. Live. Live live. Oh. Please. Liz. Lets. Listen. To lift. And a very warm welcome to you youre watching us inside. Some time move shows were like a honeypot. Everyone believe that it was all on stable and on the reliable and russia but they thought that everyone was great over there russian businessmen want to do business in the west because they feared some could take everything away from them in russia which now is the opposite they have businesses outside of russia was snatched less is frozen the whole blog know the student whine about. Trust is a very important part of big coining because while we have covered the greed in the norses cism and all the things that drive people to make it queen itself more antifragile and more robust trust is part of the consensus mechanism and consensus mechanism is what the big queen protocol is right to have a system of social contracts that establish the relationship between the governed and those doing the governing and you hope to strike a balance and its almost impossible but because those constituents are so finely balanced within the protocol that trust is actually been. Mathematically salt in the form of this distributed consensus algorithm. So we can focus on more important things than making sure that who were dealing with is trustworthy because if theyre in the network they are by definition trustworthy and therefore what we need to focus on is how to take that 5060 quadrillion calculations per 2nd network cash rate and build something even more spectacular than anything weve ever seen before sure weve been to the moon weve been to the moon already. Where we going really beyond the moon. Who are we going to attract at this protocol. 10 years because well be used ubiquitously by both businesses and individuals to transfer money especially across borders in high value its proving that its a very efficient high value transfer system and as more and more liquidity comes into it i believe that that its going to be the most efficient means by which value is transferred especially across borders and its going to take over a lot of the Foreign Exchange market my hope is that 10 years from now it will be very easy for someone to just pick up a phone install an app and start interacting with the system not having to worry about things like chemo management or payments Channel Management or any of the 1000000 complexities that are going on under the hood so it is essentially the same way that people have been using internet and Internet Technologies where 1020 years ago you had to put a lot of effort into even just getting connected to the internet but these days you go out you buy a phone you install some apps and youre using a plethora of technologies under the hood without even knowing whats happening so a lot of people that are older like dont trust digital stuff because they havent grown up with it a lot of the kids today while theyve grown up with world of warcraft or you know using bend mo or pay pal or whatever so theyre perfectly comfortable with digital things. Making the leap to these decentralized digital scarcity isnt that as as big as if youre going from such a centralized scarcity to decentralized digital scarcity so i think a lot more people will be comfortable with it and by then a lot more of them best cers will be in their thirtys and have you know experience like to. 2 thirds of their life would be quite an existence though have heard about it since you know middle school or high school so theyll be a lot more comfortable with it so i expect it to be much more of a store of value for them the 1st 10 years have been a nice proof of concept in it its shaken the establishment worldwide to its core the next 10 years we will actually be building real implementations the begin to affect everything think about it 10 years ago we didnt really have you tube and facebook and google in 10 years from now well be having smart contracts decentralized peer to peer Money Private keys and monetary sovereignty in 10 years we will have an entirely new world coming into view if a 1000000000 people in developing markets who dont have access to the Banking System start collateralize ing investments using because and dont even know theyre doing its theres not enough to coin in existence to collateralize all of those investments so theres only one solution the price of bitcoin will have to skyrockets to meet that demand which is what i believe is going to happen so you have this kind of essential tension between the whole dollars the people who have no intention of selling at least not in the short term at any price and consumers who can realize huge benefits from because as programmable money in these kind of new banking applications which ironically is going to drive the price significant we hire and create more of these socalled totallers so i think its going to be a really exciting time for for the clone over the next 10 years it going is going to succeed then the 2nd question is is it going to succeed gradually was the biggest the system is still running smoothly or is it going to succeed was the legacy system is crumbling down for example just to me just make clear the email didnt evolve. Off is where chris. Crumbling down we didnt start using you tube while the hollywood was burning in flames but we we may be forced to use bitcoin was the legacy monetary and Financial System is crumbling again don like it doesnt it but it may be worse but before we get to that future max i would like to remind everybody as many fake saito shes will come forward in the next years ahead i do want to remind everybody 10 years into bitcoin remind you that the 1st big queen transaction was between sid toshi and how finney sotto she sent how phony the 1st transaction why did the toshi choose how funny what what was the genesis of it queen what was the environment what was the mood what was the reasoning behind it and i saw this quote from how funny that really made me think of what he was and he was a cypherpunk he was a cryptic graphic activists he was one of these guys and he said it seems so obvious to me here we are faced with the problems of loss of privacy creeping computerization massive databases more centralization and david charm offers a completely different direction to go in one which puts power in the hands of individuals rather than government and corporations the computer can be used as a tool to liberate and protect people rather than to control them so david chaum invented cash digit cash back in the eightys so anybody who pretends to be so toshi these days there were many people before him they were why they were creating these Digital Currencies was not for a when lambo it was for very profound reasons of of natural law of you as a sovereign individual be on the divine right of the fia kings i noticed during the saul series and the rest. How i define because. What is big macs. Well its text taxed as in speech and speech is an honorable right that we have as americans if codified in the constitution bill of rights and having free speech in this case free text or free code code is speech we have a direct connection to that alien a bill right and a direct connection to the natural laws that were in place that inform the Founding Fathers of this country about what should go into the constitution and the bill of rights so this is about as american as you can get it takes that notion of free speech and alien a bill of rights guaranteed by natural law and it puts it into the fingertips of anybody in the world with the hope to be free animoto big point is now a technology that the individual can wield to enforce their individual rights when it comes to the money and to resources there are a lot of people and its al them that were taking this state out of the equation and they become fearful yesterday ration of money and state but what were saying here is that its a return to natural law that we are in doubt with the alien a bill or inalienable rights including the right to trade great free speech and the right to hard money thats an animal that means you cant put a lien on some of these rights you know having to use legal tender to pay taxes youre Winning People you know that why neither borrower nor wender be people are either going to rise up and take control over themselves in their own situation and use big coin or whatever economic. Rationale and tools that they can use to do that or theyre going to continue to be harvested by go ive stopped being turned into either melkor meat for political weeds so our money system is it essentially a dark ages and big queen brings the enlightenment to the dark ages of our money system car natural law guaranteed. An era of enlightenment from the very beginning and we have experimented with systems of governance throughout history and those systems have come and collapsed and the constitution the United States is the latest in one of the most advanced systems to bring about the inalienable rights guaranteed in natural law to individuals over the course of its 240 year history those have been subverted by dark forces within the central Banking System now with bitcoin which is effectively taxed which is alien of all right as guaranteed by law we have once again the ability to touch like the gods we come from the eternal light. Freedom so most of us who are not aligned our way over life with natures laws they have to change they have to change their way of living and big coin is going to come to give us a choice whether we want to ally our self with natures god and laws of nature or whether we are going to align ourselves with man made the laws that are in corrupt that are so corrupt the ball and so in jest and the cypherpunks they are not going to give us freedom and for the and that we shouldnt just wait for them to just give us as east indies tools they are here to give us a choice choice that will fundamentally change the course of the future stupid ideation but we have to be the one to make that choice and i go back to this. Metaphor of the film the matrix and then the member of the neo trying to free himself from the matrix and morpheus told neo gave him 2 pills and one was red pill the other one whats blue pill and the red pill nottage freedom and then ben other one the blue pill symbolized it on and youre going to be sporting events and oppression and so and then for security so now with the big we now have these 2 choices we have the pill or blue pill and until now until now we only have a group pills that are promoted as the red pill by the political system of red and blue you know the one party with 2 head beast basically and then so now we have real choices to make and we have repeal and we have to be the one you know morpheus can only show us the door and hell have to still walk through the door and the sacrifice was already show the door and decline in order to show us the door and now its our time to do it it is never too late to get the big coin i think. You know we were in the space so you have your early adopters all different aspects of this curve. But i think dishonor you get into it it does change the way you see the world you see yourself but i dont think its ever too late i think you know from i guess 2009 and now theres always been episodes where people say oh as i missed it now with you to stick around you know this is this is right on time so i think if anything the time is now this is when you should get into it right now and if you feel miss another town does the same thing right now because that. The one i often say like use the enemys e. M. T. Car. If you could interest to transport the cars to boost used to transport. Car pooling or what we do is actually very very tiny today so the biggest expansion for us is not in the next year but in the next 510 years is how do we build a better product with more trust more safety maybe a contract between the driver to convince more drivers to show break or more passengers systems or pursuits. So what weve got to do is identify the threats that we have its crazy. Let it be an arms race off and spearing dramatic to follow could only really exists i dont see how that strategy will be successful very. Time to sit down and talk. I dont want to talk to a communist news agency forgive me well have to find someone. Well with the trying to stay with us wants to give meaning of the going to be just like the jews this is exactly when my father. Died. So i need you in this day week if you saw me live if i mean yes you dont see until that where. I live in peace. We have to be the bad guys oh shut up. I think like now is the time to come to this book and fight false is only its an indication of how important most movements are. Sold out to songs with indication of where the left must move towards we are definitely winning it because we have the people they have people in power but we are in the muscle. Was. I i. The stories the shapes the weak us President Donald Trump says he counseled and asked ron because he doesnt want to kill anybody unless its absolutely necessary. I dont want to go on the radio. I dont want to go out of the body. Looks exactly that. But as well as Opposition Party is accused of spending humanitarian aid on lavish hotels drugs and. On for hours thats how long president putin spent questions from the public and his annual q. And a session covered key domestic issues