You have plummeted, your own resources. Done that. Take this mission. So i tell you, we are ready to go. Any time the button is given and it has all the us dependence of great have agreed to deepen ministry of economic ties at a summit in cub david. And they condemned what they described as china as dangerous and aggressive behavior in the south china sea. Today, we may history for the 1st ever stand alone summit between the leaders of our 3 countries as well as our commitment to meet together and the leader level annually. And to have all our rows of cabinet members, people feed on a regular basis for from this point on just this year, not next year forever. Thats the intention. So the 1st time ever, instead of in the sidelines of multinational conferences that withheld the try lateral summit on a stand alone basis here at camp davids numerous historical meetings of taking place. And its a huge on and it was printed the 1st page and thats history. Was this meeting as north korea funds . Its nuclear and missile programs by exploiting labor and human rights. Our efforts to monitor these activities will be redoubled to the turn north. Koreas elicit funding activities as a new working group on its cyber activities. Will be stablished, korea, the us, and japan oppose. Any you a lateral attempts to change the status quo by force. The calendar is facing its was 5 season old reco officials, including of declared a state of emergency as one of us continued to destroy homes and businesses in a separate blaze in yellowknife knots displaced 22000 people. United nations has suspended all lights of says that the largest refugee kept the palestinians at 11 on friday. The wind was fine to is to leave its facilities to the end of the hello, a cab, good battles between rival sanctions last month killed 13 people, and full spouses from the haves. Protested with a high cost of living of taking place in syria. Hundreds of people demonstrated in damascus. These the repub, its an old time blow against the dollar. Serious currency has been full and since the civil war began in 2000 or less than 3 un peacekeepers, itd be enjoying scuffles with tucker cypriot security polls in cyprus. The finding the account of the construction vehicles involved. Why would move into the you and control buffer . So the split seal island tucker cypriots will forward. Hes wanting to build the road through the area of the you and says, the construction dates are the authorized as cold on the ticket side to immediately withdrawal, opus now and machinery. In the buffer side, the United States is a pretty easy deployment to photo. Thats 16 fine to just to ukraine today. Edition and jets will join the role. Once youve played in pilots complete that training, the dates have been submitted to National Efforts to train the pilots to fly the sixtys in combat. The 1st ship to use you crazed you who by the terry, colorado or the black sea has arrived safely to stumble. The container left odessa on wednesday afternoon trips 18 months since the russian invasion. Russia has mould basic commercial vessels using ukrainian pulse. You create a new ro, baby, have signed a degree with to Work Together to boost keeps great exp, bolts for media, has been to keep transit points. Expos, from ukraines. This must get pulled down 12, but you had to go shaded black. See great in the last month or the 33 year old position to us has been convicted of murdering 7 babies between 20152016. Please see that they is also guilty of attempted murder of 6 bull at the hospital. You. Thats why she what those with the headlights both use a little bit later tonight is on next the. Ready this is my Award Winning documentary, what big coin broke chains and web 3 that was 1st published in 2020. Since then, a lot of things have happened. Global inflation rates have sold the price of bitcoin 1st increase by the effect of 8. 00, but then fell by 75 percent and visit many of the smaller crypto currencies imploded. More recently, notable Crypto Exchanges in books and protocols had to shutdown and its what appears to be outright from h. Hi made a film about the history of money banking and bitcoin buckler going. They said its going to be a bumpy ride. And now some of the big brains and big egos to champions crypto currency claim, they are building a crypto utopia. Magic those things will happen is something called block chain technology. And it just might change your life and they really could compete with, if not even take down the facebook send the googles and the amazon. My name is tungsten hoffman and im going to put some of these claims to the test. So get all the hype. Well explore the True Potential of this new invention. See whos already using it, making it really easy and simple for people to on a piece of a solo 5 or a week. And go deep into a secret bunk of that holds billions in bitcoin. But they have those who want to kill it, join with me and introducing a bill to outlaw crypto currency. So the way nip this in the bud wont change the world with it. Welcome to ground 0 in the battle for the future of the internet. With 3 point oh, they lived in a Science Fiction dream. What they actually did was, builds, flows coming, disaster block. People were not willing to learn f. Were not willing to admit they were wrong. Im telling me that i have no clues is. Thats just what people have support free speech. You dont support big calling your enemy a good point. This is bigger than the internet, the higher edge, the renaissance, the industrial revolution. This affects the entire world. Ok, lets start slowly with the basics of money and its creation. The total value of all the worlds money is about 120. 00 trillion dollars, which you probably didnt know is that each new dollar is created by governments and banks as debt. Which needs to be paid back by someone in the future with interest. Thats why there isnt enough money in the world to repay all that debt. And there never will be. Oh, and almost all of the worlds money is already digital. Just entries in a letter, usually managed by a bank. Only a small portion exist as physical currency, like cash or coins. Think of it this way. Your employer deposits a 1000. 00 into your bank account. Then you pay 200. 00 in taxes, 500. 00 for rent, 200. 00 for bills and shopping and so forth. What are you use . Credit cards, debit cards, paypal or bank transfers. Theyre all just pluses and minuses in different digital letters. This way, theres almost new need for physical money in our daily lives. A string, the financial crisis in 2008 mysteriously got a cold. So touchy nikoto published this 9 page wide paper. It said that the coins open source software. We can create or money without banks or governments, the this new node money called crypto currency is created and stored in computers. And before long there was a growing fan club. Most of the guys like ranch of you today, hes a polarizing figure, but big then he gave away thousands of coins to kick stopped the movement and they all called him big calling jesus. I think that for many years he brought more people to be going than anyone else and we would forever be grateful to him for doing that. When i was a kid, i was reading all these Science Fiction books. They were talking about how the world is going to be when we have this like anonymous digital cache that people can use on the internet. Its not controllable by anybody. And then when bitcoin came along, it was like, wow, the Science Fiction money that i had been reading about as a kid is finally here. So i got so excited about it. I heard about is about 10 in the morning. And i was planning to go to work that, that day, but i didnt, i stayed home the entire day reading about it didnt leave. I stayed up all night that night. Reading about it stayed up all night the next night or even deep down bed rabbit. Holding to the point of physical exhaustion office. I called a friend of mines that please help me. Im so sick. Can you bring me to the hospital . Yeah. Branch of the big bad by the big claim, but like so many others funnel truly one of the most exciting inventions ever in the entire history of human time. But how does it look . When my friends ask me to explain . Well, i often start with this analogy. Imagine a bank vault where you have a safety deposit box for key opens. What are the boxes where you can securely store physical valuables, like gold coins and did clean their digital teeth. Think of them is very long passwords or your private key gives you access to a wallet which unlocks billions. If you need to clean addresses. Each one is a virtual safety deposit box that only you can open, which is your key. And there are more addresses in this virtual vault in adams in the universe. The doors to these boxes are transparent. You can see inside them. Heres one was digital money. Point 21 bit coins, sending them from one box to another is whats called a big queen transaction. Well explain that later. But for now, just remember that these digital coins can only exist inside these transparent address boxes can be copied and cant ever leave the vault. And this vault is owned by news, single entity. You dont need permission from a government, a bank, or a corporation to use it. The foremost early adopters of the coin, it was all about global p to appeal electronic cash room. 77. Invalid was one of the very 1st businesses to accept big coins as payment for physical things. V as in bo, this back in 2011, there were no more about wallets, right . So you had to go there, bring your laptop type in and this long address, you risk losing the money if you didnt type it correctly. So the 1st guy building the bible was some guy in brooklyn who built it in order to buy his spear move his phone instead of his computer. So what if those slow and expensive middle man with them multiple edges could be replaced by a giant database, synchronized over the internet. Thats the big idea behind bitcoin. And its run by the centralized Global Network of powerful computers and regular laptops. This immutability is the 1st rule of bitcoin, it means no one can ever change what it was once we caught it in the block chain, off, spend the same coin twice. And thats also called censorship resistance. And its critical to bitcoin being used as real money award. Winning journalist laura sion tells me a story about women blog posts, and ive gotten this done being paid in bitcoin in that one of the women having a piece of husband and saved up her big coins and eventually was able to divorce him because she was able to control her money when she earned the big coins. In my 1st film, the early adopter said that this kind of Financial Freedom for everyone was just around the corner. Girls most populous network, is adopting bitcoin. Thats the internet. The Worlds Largest economy is adopting bitcoin. Thats the internet. We have transcended borders. Its totally files, went to a cache. David gerad doesnt buy all the height. Hes one of the most outspoken critics and skeptics of block chain technology. Its not very good as a payment system. This small claimant use case. If you want to trade in things, the government doesnt want you to trade ins. Thats davids polite way of saying illegal stuff. In 2011, most of my talking to colleagues was saying 3 things here. So without the drugs pornography on sale, the silk road was a black market on the dock with buyers and sellers use big coins to fly under the radar of the authorities. It had 1000000 uses until the s b. I showed up and shut it down. They called this guy for running it and confiscated the coins held in escrow by snatching his computer and then they locked him away for life. No doubt crypto currencies can be a tool for criminal activity, but still on the bills all the banking system. And lets not forget the block chain is a public let you, that its actually been quite useful for uncovering crimes. A former federal prosecutor named catherine hon. She was the one who discovered that there were a couple of federal agents that were pilfering since that coins that the government had obtained from this old pro case for their own gain. And what was interesting was she got a tip that there might be one of one agent that was doing this. But from looking at the movements on the block chain itself, she realized that there were 2 people. The prosecutor could see those big coins being moved. And with the dirty cos, try to sell them for dollars. They got busted. But what makes big coins with stealing . Why do they have value at all . Lets go back to where big queens are stored in transparent digital deposit boxes, protected by strong cryptography. They can never be copied or leave default because any transaction of any bitcoin down to a 100 millions fraction is recorded in the block chain for trinity. This synchronized global letter is shared among thousands of computers worldwide. Thats why it cant be compromised or altered. Think about that. We can make an incident number perfect, digital copies of the movie song, any file. But for the 1st time in history, this distributed Record Keeping allows us to have a truly unique and fungible Digital Object that is also scares. If you could count all of these virtual coins, you find about 18000000 of them today. The, when the cap of 21000000 is reached, the protocol stops the network from creating anymore. Its the opposite of our traditional money supply, which keeps growing in growing an unlimited amount of dollars versus a very limited supply of big coins. You do the math if you use euro so dollars you might ok. I bought it in facial pay. Yeah. But if you currency isnt stable, you might be a trillion and paper and beat that brooks a rubbing but though, and yeah, and assigned by the far as indeed how my parents are she branches there. And i remember growing up in my childhood, i saw my parents lose everything 3 times. First, because of a huge the reservation then because of hyperinflation and the last time because the government confiscated all of bunk, their bosses, i think that they, they are billions of people, at least 4000000000 people who would be a lot better off by having access to a form of money that is non political and, and more than one credit. We think of finance. We think of banking, we think of money in terms of the experience and perspective of western european or develop nation person. And that is really just a 1000000000 and a half people who have a very privileged financial life. What about the other 6000000000 . Every single country that is free has essentially a legal status for crypt occurring since that is very open and permission. And every single country that is unafraid has a restrictive for band crypt of currency status. This is the building wall fil a powerful symbol of government trying to control it citizens. And that brings us to the big question, can governments or banks ban bitcoin . Well, some politicians still think they can stop open source software. I looked for colleagues to join with me and introducing a bill to outlaw crypto currency purchases by americans. So that we nip this in the bud in part because not a awful lot of our International Power comes from the fact that the dollars, the Standard Unit of International Finance and transactions clearing through the new york fed is critical for major oil, oil and other transactions and it is the announced purpose of the supporters of crypto currency to take that power away from us for so currency represents a litmus tests for governments. Its reveals how much your governments believes in a, in the fundamental freedoms and, and human rights. Because if they dont trust their own citizens to have control over their own money, is that since a lot about the government says very little about crypto parts. As you see, the reason why some governments and most things are threatened by this technology is simple. You private key and you want it can replace your bank account. The network is run by software, and its currencies made and maintained by computing, power, and electricity. It cant be manipulated by central bankers, wall street, northeast all politicians. But with new freedom comes new responsibility. If you can handle the keys at your very point, if you dont use it, its not your big point. Your keys dropping point knocked your keys. Masturbate point your keys, your big point. Naturally, keys not survey point. Got that. If you lose your key, you will never be able to access your clients again. And if someone hacks your computer, but you still have those passwords, youll coins will be stolen in a 2nd. Or worse, you trust a 3rd party like mount docs in the early days for f t x recently, and you find out that they didnt. These are a few trust millions of crypto currency. Investors have lost the assets by storing the coins, one centralized exchanges. And remember how wins as a family had them money stolen by their own government . Well, maybe thats why he built the fort knox of bitcoin secuity example. Most of our 7000000 customers are in emerging market in countries where theres problems with the car and see we have explosions in activity like venezuela right now, derek and we develop the system of wallets where we have 5 private keys for each one of our between addresses we keep those private ds in an offline server that has never been on line with narvie on line. Its inside of all the voltage inside a bunker, usually the underground. Our main one is in switzerland, the natalie commission, military bunker. And i just had to see it for myself, even though it took months for us to get cleared for to the flu. A met by Christopher Walsh by a former military colanda who runs the place. And the representative from sample kristof said the gods would rather shoot us than show us around. I hope youre kidding. They need to bring the material 3 other side of the personal look. First up, one more check of all i do use a pet down for weapons or any other monkey business. And given inspection or even the boss was searched, it took nearly an hour to get my teams were secuity, but it was worth it. No other film crew has been allowed access. We are the largest custodian, a fit going in the world because a lot of the largest holding, theres no words use us or security room. It has it that 10 percent of all big clients are stored here. And in the fall of the secret locations, but unfortunately, i cant confirm any of those numbers from the amount that we are getting a lot of benefits. But those quite proves, flooding prove. But on the other side, you are facing a lot of additional cost. Like maintaining 7 independent bank of power supplies, the labyrinth of tunnels deep into the mountain is interrupted by nuclear, great dos. Its a level of security applied to all of the data. Kristof protects you. Not just for example, we can not talk too much about it beca