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Was said in a u.n. report from last year which talked about devicing and operating a scheme in singapore. it s clearly trish: are they lying to us? the chinese say we re not trading with north korea but if they re laundering money in fact , you know they re doing something even worse. yeah, and it s not just laundering money. it s not just giving technology to the north koreans so they could use it against us. also, just a few days ago, a north korean ship which was under u.n. sanctions which means it can t go to any port outside of north korea it turned on its transponder in a port near shanghai, so clearly, the chinese are busting sanctions and we have yet to hold them to account. trish: well it s time we start i think so good to see you gordon chang, thank you very much merry christmas. bitcoin rebounding despite a lot of folks saying this is a very dicey investment. coming up, a couple of investors ....
We clearly over paid for that but look, we believe long term there s still a long way for bitcoin s value to go from here. we think that it is gold 2.0 and disrupting potentially gold which is a $6 trillion market cap so if you look at bitcoin today at 300 billion, it looks like it s certainly appreciated quite a bit in the past year but look we ve been saying this for the past five years when bitcoin was $1 billion market cap, that bitcoin is a better gold, if you look at the properties of gold, they make gold gold like scarcity, di visibility, port ability, bitcoin equals or surpassed the gold across each category so for example, gold is scarce, bitcoin is actual actually fixed at 21 million. it s divisible into a hundred million pieces and actually hard to cut up bars of gold and they re hard to move. they re not nearly as portable and part of this i think is a little bit of a generation all ....
Knowing because now all of a sudden my phone is useful. same thing with the social network. if you look at facebook the first person at facebook lonely place. all of a sudden a hundred people you can connect with people share stories and pictures. maria: it s a good analysis. a billion people on facebook that s a billion squared, so that s all of a sudden the value gets greater and that s how we value bitcoin. money is a network. people believe in the u.s. dollar. it has more value. people believe in bitcoin it has value. people believe in gold it has value and that s not a linear increase. by definition the more people that get in the bitcoin, it makes it more valuable and when we try and take like equities or stock bubble type frameworks to bitcoin, it s really miss guided because it s a network. maria: have you sold any bitcoin s so far? well we ve definitely purchased tickets to space with bitcoin a couple years ago and ....
Living in the u.s. we look at the u.s. dollar and we say well what s wrong with that and it s a pretty decent value but in reality, most currencies out there fail. maria: so how many bitcoins do you both own? we re not commenting on that right now. maria: why not? because we are here to talk about the bitcoin futures contract. we may discuss that later at some point. maria: look bitcoin, this past weekend, opens with a thousand dollar spike, 1000 contracts trading hands in the first hour and exchange halt happened because of the volatility and the website crash. all in less than 24 hours. we know that the currency has risen more than 1500% this year, actually 2000% this year so let me ask you maybe bitcoin is real , but is it a bubble? people use the word bubble and this is basically bitcoin s 20th bubble that we came in five years ago and remember when ....
Maria: it certainly gives you more liquidity that s for sure and tyler you both made the point when you were on the morning show now people could put their money where their mouths are right because you ve got people like jamie diamond calling bitcoin a fraud, so if you think it s a fraud go short it. absolutely yeah. we ve been working really hard to give jamie diamond an opportunity to short bitcoin and anybody who says that it s a fraud or bubble you can go put your money where your mouth is and bet against it. yeah, talk is cheap and that s right. now, you can actually you could bet against this, so we encourage jamie diamond, we encourage him to personally bet against this bitcoin, take jpmorgan s balance sheet to bet against bitcoin. we ll see what happens, but now they can do it instead of just sort of throwing stones. maria: but tyler you ve got to explain this because people are wondering what bitcoin is backed by. when i look at the dollar, the dollar is backed by the full ....