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Do you know what a block chain is? what are the differences between bit coin and a bunch of other crypto-currencies? what is a bit coin wallet? what is an exchange? the interest is very real. here to break it down michael saller is with us. i have been studying you. i spent hundreds of hours with two friends of mine. they broke me down. i wish i knew more. i can't explain the algorithm. i know what an algorithm is but it never has a final answer i have a hard time understanding. break this down simply for people like me that don't fully understand it. >> okay. let's start with the basic princi...

What are the differences between bit coin and a bunch of other crypto-currencies? what is a bit coin wallet? what is an exchange? the interest is very real. here to break it down michael saller is with us. i have been following you.. i have been studying you. i spent hundreds of hours with two friends of mine. they broke me down. i wish i knew more. i can't explain the algorithm. i know what an algorithm is but it never has a final answer, i have a hard time understanding. break this down simply for people like me that don't fully understand it. >> okay.y let's start with the basic principle. ...

Back to el salvador, they lose 10% of the money through transfer agents and lose 20% off the value a career because they are storing it in a currency and not an asset. bit coin let's you move assets at the speed of light around the planet. the president of el salvador realized using the bit coin network, they could cost a billion dollars of costs every year to the people and put themselves on the world's first digital monetary network. instead of losing 10% of value they will make money and they will be able to move that value around for free. >> sean: michael, you talk a lot about the history...

Assets and don't have access to wall street. when their relatives send money back to el salvador they lose 10% of the money through transfer agents and lose 20% of the value a career because they are storing it in a currency and not an asset. bit coin let's you move assets at the speed of light around the planet. the president of el salvador realized using the bit coin network they could cost a billion dollars of costs every year to the people and put themselves on the world's first digital montetary network. and still losing 10% of value they will make money and they will be able to move that...