Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to this week in bitcoin today is January the 12th 2018 week of the strong hand knot week of the weekend but the strong hand but it's still a weak but not weak and all right so we've got some very special guests from all around the world here I mean that's why we're on at this crazy time so they could all be here Martin Danson is in freaking Melbourne Australia we got BTC sessions in cold Calgary Canada and we got renegade investor in England we're going to talk about the temperature in Calgary as we move on but first let's talk about the hot news in cryptocurrency and that is re is all this fun leaving us into a freaking bear market I don't think we're going into a bear market but I'm the eternal optimist renegade investor what is going on are we are we entering a bear market what's going so um yeah the biggest biggest question for me for our all of 2017 was whether we were gonna see a repeat of the euphoria despair market cycle that we've seen many times before in Bitcoin or whether we're at the beginning of the early majority phase of s-curve adoption where growth is gonna go exponential and that was literally it's literally a trillion dollar question I was asking myself for our 2017 and one thing that I really noticed lately is that although we've had this big price increase from you know almost like a 20 20 X breakout from the highs of 2013 the actual market cap of Bitcoin is still relatively small like word we are like 250 billion dollars at the moment when you take into account that there's 400 trillion dollars globally in all of a major asset classes so as a percentage we are still less than zero I mean we're at zero point zero seven percent of all the money in the world is currently invested in Bitcoin if in terms of adoption we are still less than 1% in terms of adoption and so for me when I'm looking at the price right now we've had this big run-up but it's everything that I do in Bitcoin I based on probabilities like what is the probability we're gonna have a pullback what is the probability we're gonna consolidate and what is the probability that we break out here and we go vertical and so one thing I'm looking at right now is that the probability that we're gonna have a euphoria at this bear market cycle I'm putting as relatively low the fact like in the past the reason we had such volatility in the price is because speculators were in charge of the price so in terms of price action there was very little grocery adoption to offset short-term speculation that's why when you had the rises in 2012 where he went from $30 step back to $2 then you had the rise in 2013 from 266 right back to $40 and then obviously one of the biggest which was 2013 where we went all the way up to $1,200 before pulling back to like the $160 capitulation lays in the 2015 the one common factor of all of those reasons why we went from like euphoria to despair was the fact that speculators were in control this market but one thing that I really noticed in 2017 was that the speculators stopped having complete control over the market price a momentum traders didn't have it their own way and the reason for that is because we saw so much grassroot adoption from retail investors and coming into the space and and some of the figures I've seen recently due to adoption really made me believe that what even if we do have a pullback it is not going to be like the previous pull backs that way you know almost 80 90 percent and lasted two years the reason for that is that you know bitstamp came out the other day they're adding over 100,000 new accounts a day not only that but they've also got like a two-week backlog in validating these accounts so last when you think about it that's 14 million people potentially waiting to be validated before they can even buy Bitcoin and when I posted that on might account one person actually put I've been waiting three weeks so you've got somewhere between 1

5 2 million people potentially waiting on beer stamp to buy Bitcoin then you've got coinbase which is also adding over a hundred thousand new accounts a day and that's just two exchanges then you take into account globally how many other exchanges there are and it's really I think that's a lot of quantitative evidence here to make the case that we are definitely entering the early majority phase of s-curve adoption where that graph goes vertical and if that is the case I really don't see how short-term speculators are gonna drive this price down anywhere like we've seen if the previous bear markets some of the main areas I'm looking for like for those who are into trading there's a tool called Fibonacci retracement which a lot of traders used to calculate once you've had a big rise how far it's gonna pull back and one of the most common areas is the 52 618% fibonacci retracement levels and that's a lot of levers where if you've had a big rise Vestas and traders will start to react umya late and go back into Bitcoin if that happens I'd expect really strong support around sort of 8,000 to 10,000 I would definitely be a bison for me if you anything above that price like this is how I would play it right now like I don't give financial advice but if I was personally coming into the big coin space right now anything under 10k I would start to look to accumulate Bitcoin if it drops to 8k definitely make a significant purchase and if it's above if it's above like 10k now if I'm just looking at some of the 10 the course on the chart you know we have a lot of support by support around me sort of 10 to 12 10 to 13 thousand mark and we've got a lot of resistance around 16 to 17 so as we are in that consolidation range right now we're sort of in like kind of a symmetric a symmetrical triangle and also like a channel anywhere in between they're just scale in to your purchases they don't put everything in all at once you know just use it as an opportunity it's called cost or averaging just make small purchases but also keep some money on the sidelines in case we have that pullback so you can maximize your bitcoin purchases you know regardless of where you buy here like in the long run especially of lightning on her um uh I think that this bull market has just got a long way to go but in terms of maximizing of your purchases cost or average within this region and always just keep a little bit on the sidelines here Sarah if we do go bare and we have that sort of maybe a 618% pull back to that 8000 region just make sure you've got some money on the sidelines that you can then go in but in terms of the way I'm leaning right now I still believe that there's so much grocery adoption here that it looks like we're entering the early majority phase of s-curve and that for me is probably leaning me more towards the ball but both side at the moment all right renegade investor naming some numbers there – all right now – everyone and remember to check out the notes section below all of these guys links are below Martin so do you think things are speeding up are more people joining the buying Bitcoin buying cryptocurrency do you feel an excitement in Australia or do you think maybe we are things are gonna slow down worldwide what's your perspective okay cool so a good indication on the ground because you know I run the blockchain center here which is a co-working space for myself and my team should I say I mean that's a good indication in itself it used to be just me and one other person pretty much now got a team of nine people here running the center this is a this is a photo from Wednesday night I don't know if you can your viewers can see that okay but that is like our new co-working space crammed full of about 200 people and that's every Wednesday night now so that's just our talk and trade meetup group a guy called Simon Harmon he's been running that for a little while talks about things that are happening in the industry and loads of audience participation people stick around after some beers but like I mean yeah it's it's it's phenomenal the growth and one of the corporate sponsors of the blockchain Center is a CX dot IO a bit of a plug for them so they are Australia's leading Bitcoin and cryptocurrency exchange they do the most volume and yeah they're getting like about close to a thousand signups every day and there's other exchanges BTC markets coin jar independent reserve coin tree I know that they're experiencing similar growth as well so thousands of people a day are signing up to exchanges in Australia as well the teams are swamps they're hiring new new support staff to do all the KYC checks although regulation isn't coming yet that's going to be coming in about April in Australia so yeah it's just yeah I imagine the growth is pretty similar to here with what it is in most places in the world we're opening a blockchain centre in Lithuania as well that's happening at the end of the month on January the 27th so that's pretty exciting the first blockchain sent will be in Europe and we've got plans to open blockchain centers in other countries as well serious interest will opening one in person one in Sydney as well so they're happening for sure one in Adelaide has been a marked as well and yeah so so yeah it's it's all good I mean these little ups and downs is if you've been in the industry for quite some time I'm similar to yourself Adam I believe like I tend to hold bitcoins I've been buying Bitcoin since I found out about Bitcoin in 2013 2014 2015 and I've kind of been holding them and I don't really trade so much anymore I don't really have the time or the inclination to watch the Fibonacci retracement lines and the the ups and the downs and the emotional rollercoaster that you go on and then you think oh maybe I should buy into this altcoin and that one and I should have stick with this one and and like I like Bitcoin bitcoins Goods and it's not to say you can't make money off of the off of the old coins but yeah a lot of them just sketch you in my opinion and they go up and down very quickly so so yeah so it's it's all good and and I agree I think that the price is going to consolidate now that tends to what happens to be what happens in the past and then I think there's just steady growth for the future but but yeah I only invest what you can afford to lose it's very speculative right now and yeah just focus on on the underlying technology the projects that have real promise I think that's the that's the best bet which is which is Bitcoin and I think that has the most promise and with the layer to scaling solutions kind of I know people that are working on lightning network applications so I think there's lots of good stuff happening and and these ups and downs are just part of the part of the journey I've got to say that photo that you shared was a very bullish and very impressive photo if that's happening every week there I mean that's a good sign and that's what that's what I you know when I hear these people talking about all bear markets I mean I think about this you're opening the blockchain centre in a delay and I mean that would set the fifth or sixth largest city in Australia that's not even the top assigning the top four and you're opening something there but I like whoo-hoo in Perth are you coordinating with you know the person in Perth absolutely so digital X is the name of the company so digital X is Australia's only stock market listed there they were doing Bitcoin mining back in the day they were the first listed company in Australia so ticker code is DCC and then recently so they were doing Bitcoin mining initially then they pivoted it into like an air pocket app which is like a remittance application for the us to Mexico remittance corridor there and then more recently they got an investment from blockchain global which is also a sponsor of the blockchain Center and they they've got a thing as a four million dollar investment it was the first in the world actually in Bitcoin the investment was done in Bitcoin because blockchain global were into mining and they do the exchange and so they're the people that set up blockchain global are very bullish on Bitcoin and-and-and the values behind Bitcoin and yeah so digital XML using the guys that are there they have like corporate equities and background so they're doing I see our advisory services now and so book building for these new projects though in solved in the Power ledger ICO which I think they raised about 34 million and it's now it's like a 500 million dollar on the exchanges there they did singularity dotnet which was like an AI marketplace so yeah so over the last few months their share price on the Australian Stock Exchange has gone from 3 cents up to I think it's like 25 cents or more now so that's just happened in the last couple of months and yeah there's similar things happening for other companies I see when they actually put put the word quick tour blockchain in their name there's a story about Kodak I think recently right yeah they had a bit of a share price bumper but digital X to their credit they're actually doing stuff in in in the blockchain space so so so yeah so basically as digital wakes a corporate sponsor for the blockchain so no and as part of that deal and that agreement they're going to be licensing a blockchain Center and they're based over in Perth so it's going to be hopefully the first quarter of this year and there'll be a blockchain Center in Perth running lots of community events and having a Bitcoin full node like what we've got to set up here and you know the mining museum the Satoshi white paper is going to be on the the walls of every blockchain center around the world so it's really important that people when they come to the blockchain center they learn about you know Bitcoin and how it works the consensus mechanism mining why it's important to the world and and I think that's a good place for people to start it looks like my next trip to Australia no matter what city I go to I'll be able to finally get a Bitcoin centering I mean this it's it's very impressive it's obviously quite vibrant and so like it's all very bullish I mean this is real life on the ground stuff in it on a continent far far away from North America and it's just it's very impressive BTC bene it's your turn man you've heard some opinions on bullish versus bearish technical vs

on the ground by the way it's about a hundred degree difference Fahrenheit between Melbourne and Calgary seriously it got to be like a hundred degrees I think in Melbourne recently where Martin is in its negative seven degrees Fahrenheit where Benny is in Calgary so take it away negative seven degrees what do you think bullish bearish what's going on well I mean all those stories that we just heard were very exciting but story of the day KFC Canada tweeting about their Bitcoin bucket know that that did happen but they're they're just they're tweeting up a storm making jokes it but they don't know what bitcoin is and anyways I got ice I got some of that on Twitter coming to me today because I'm in Canada but I'm gonna take the on-the-ground approach here so I you know Calgary with the the when I first got into Bitcoin here the meetups were very small I tried to organize some myself early on and you know this was 2014 and I'd be lucky if there was a couple people there you know two three four maybe you know five or six if I was super lucky a friend of mine today sent me a message and was like hey going to the Bitcoin Meetup I had to first ask which one and then I and then he said well it's the one was a hundred and fifty people going tonight oh wow there's there's a lot of interest and there's there's multiple meetups all around the city that I'm seeing my city itself has like 40 no not 40 knows is closer to 30 Bitcoin ATMs in it and they're popping up all over the place I work at a place called bit national so they they own a whole bunch of different Bitcoin ATMs but it's also like an over-the-counter brokerage so you can walk in and actually buy Bitcoin direct sit down and price it out and everything and so it's I mean since November like I started with them last March and I remember sitting in the office and you know there'd be the person wandering since November it pretty much turned into like a solid like I get in in the morning there's a line up out the door and it's just solid the entire day doing sales people coming in all day and we'd like we have to lock our doors half an hour early before we close because we don't have time to deal with all the people or that I mean every single crypto company right now it can't even handle the demand like the support tickets that we're dealing with are like we're just barely starting to get a handle on them because there's so we so we had to hire so many new people and it's it's just absolute insanity and coming back after the holidays I thought it was gonna maybe slow down a little bit it was a little slow the first day because I don't think people realize we were open yet and then the next day it line ups at the door so so it's been it's been crazy and there's there's a lot going on I'm you know I'm you I'm sure you guys are all the same but you know constant emails people asking people coming out of the Woodworks that you haven't talked to in years being like hey yes I see you're doing this stuff I'd like to ask you like to pick your brain and there's just not enough hours in the day anymore so I'm I'm very excited with the direction things are going twice wise well nothing surprises me anymore so I'm not going to say one way or the other which direction we're going in the short term but let's say you know worst case scenario we see a repeat of what 2014 was that's just fine by me because I'm not I'm not looking for that short you know couple week or a couple month play I'm I'm holding unhauling all my Bitcoin you know like the the ideal situation is that I never actually have to sell them because I'll just be able to use them right so ya know I'm I'm I'm looking for I think I think things will be a little bit more clearer in next couple of months I guess kind of what direction this year is gonna take whether it's gonna consolidate and then liftoff soon or whether it's just kind of kind of hanging out for a while but there's just so much interest the only the only thing that worries me right now is the irrationality with the alts because you're seeing projects pop up that you know all of a sudden they've been around for four weeks five weeks and they're in the top ten and worth twenty thirty billion dollars that's insane can you imagine if if a company was founded in four weeks later it was worth 20 billion are you crazy no so I think that a lot of those projects will siphon into Bitcoin or you know maybe if there's a few coins that that people find useful for various projects but I I think that what's gonna need to happen in order for that to come to fruition is we're gonna have to go through a dot-com style bubble and crash I think that's inevitable at some point I think you know we're seeing the start of it but it's it's right now it's nowhere near as large the dot-com bubble was so I think if and when that happens and there is a crypto crash at some point by the greatest opportunity of our entire lives because at that point you're looking for what's still around because whatever survives that that's the next Amazon and Google of the space right so so that's where you you really start sifting through the ashes and see what's there I think Bitcoin will be there but it'll be interesting to see what else is so those are my thoughts from that well you know I just I want to say because renegade investor actually wants to reply but before he says something you know we've heard these very positive on the ground stories and it's just funny that the media fixates or what government bureaucrats in Korea rather than you know just asking around and seeing what's really going on on the ground renegade where do you have to say you know I just like I can't host a Bristol Bitcoin meetup in the UK so if you're in Bristol get down to that but last year even up to like your like your microphone your microphone you put it up to your face again yours oh yeah like even up to the end of 2016 we were having like maybe six people every sort of Bitcoin meetup there was sometimes with the loads of 2015 we're like two or three of us would turn up and this year like I've been away but I've been hearing reports from the meetup group but none this literally being 40 now 40 people for every metre of group in Bristol Bristol isn't even like a major tech city in the UK so literally we've had to change venue twice in 2017 and just all the time now just more and more people join the group so I don't throw evidence is that grassroot isn't slowing down and not only that but I've just been traveling in Bali in Indonesia and I went to whoo bird which is where I undressed on some others actually did a talk once and I went to that Bitcoin 101 session on a Saturday morning and literally people can even get in the door to get to the big coin one in one session so like I'm I was actually outside helping the people that can even get into the meeting room to actually look at huh all these sort of presentation that was going on and so literally everywhere you go now and you imagine this is happen globally in every city in the world oh my god like it's hard to not make the case that we are entering into the early majority here yeah again sir and all three of the guests have very exciting on the ground stories and is people want to buy this stuff I don't think all the on-ramps are even there yet I a lot of people don't even understand how they how they can buy the Bitcoin or any cryptocurrency for that matter so going back to Martin here I want to here in Australia is our do you get asked about altcoins or is it just yeah the time yeah all the time in fact sometimes I've got friends that have been contacting me on Facebook that you know that I kind of you know known for a while but don't see all that often and they're like how are you still doing the Bitcoin thing and yeah yeah and I oh what about you know Manero what about ripple which has been the big one lately actually like I've had a lot of people ask me about ripple lately because it's obviously there's been the news about the one of the one of the co-founders being I think it's one of the co-founders been you know richest man on the planet now or something on paper obviously it's all just on paper isn't it but like I mean yeah so where do you start right I mean it's like someone comes to me and says alright I want to I want to buy ripple okay well why do you want to buy ripple cuz it's gone up okay cool well you know do you know anything about the technology what are you trying to do with it you know so so yeah I just I just I just pull it back and go okay well first of all you know maybe look at look at what you're trying to do what's the objective here you're gonna need to create an account for an exchange you're not really gonna want to leave the currency on an exchange you're gonna need to educate yourself about a hardware wallet private key security you know you might need to buy Bitcoin because not all exchanges will accept ripple and it obviously people on this panel I don't want to for everyone because we've all had these conversations before so but but yeah quite often it is the case because a lot of these these technologies are being marketed to different demographics as well right so I mean I found out about Bitcoin and I really like the values and the opportunity the what it could do for the world potentially you know and and sovereignty over you know money sound money etc etc whereas a lot of these technologies and I'm not interested in them whatsoever at all so I'm not I'm not really gonna buy them because they're just not interesting to me and that's not to say that maybe whipple one day replace the Swift system or ACH but from what I understand about it it doesn't really look like there's much sort of underlying technology there at all with their unique nodes list and anyway anyone can can research and find out information about how how good the technology is but obviously some people seem to like it but yeah it's it's pretty ridiculous some of the the valuations that are being put on these these are these these companies really when they don't even have any users they don't have any customers they don't have any revenue yeah to say yes calm again and by the way Martin you were very polite in your description of ripple up here in North America people have stated it a lot differently it's it's quite controversial up here to say the least I I am NOT a big fan so I give you credit for being a gentleman in the way you described the ripple situation and I wonder I want to point out with BT cbenni I really like how you you said that if there is a big crash if we do have acom style crash that from the ashes that yeah well know who the next who's going to be the Amazon in the eBay of cryptocurrency and I that was there was a pretty good comparison and I you know that shows you even if something brutal does happen on the end of the day the gems will be revealed and I think Andy Hoffman old like that point to shoutouts to andy hoffman found that like button but is keeping on you hear up any what about this korean fun what was your thing it did feel like deja vu all over again so wait it's korean oh it was it china i don't yeah i it's it's it's like the movie Groundhog Day it's the same thing keeps happening again and again and again it's it's the same with the the flippin annouce een aetherium then be cash then ripple it's the exact same story every time though maybe get like half the market cap of Bitcoin and then it gets pulled back right so it's it's the same stuff but you know the the they can abandoned are they showing down exchanges and then the next day it's like well no we're not but you know we're looking at things so that they can kind of keep it going I just if it's completely inconsequential realistically like it's and not only that if it's more difficult to attain for people the price goes up right if somebody wants something and they can't get it they're willing to me pay more to get it right like I couldn't find Bitcoin anywhere like I couldn't you know walk over to a Bitcoin ATM go down to the office if I couldn't you know go on in an exchange then I'm willing to go and meet somebody on local bitcoins and pay a premium right like this that's the thing and you know okay sure yeah maybe in the future we're you know what we're gonna see way more fun out of out of South Korea now that it started it's gonna continue and and you know when it's not South Korea it's gonna be somewhere else right we saw lots with Russia we saw lots with all over the place you know and it's just it's gonna be you know a rotating door of what country is next to to scare everybody into into selling basically scaring the weak hands into into selling their bitcoins so I don't pay too much attention to it when I saw it I said whatever and then the next day I saw that it wasn't true and I had the same reaction whatever so I'm not I'm not particularly concerned about it I think it's a non-issue a non-story yeah I could really care less yeah yeah we share a similar opinion and I think a renegade investor we were talking about this off air what's your what's your take on this and what what foot is next do you have a prediction on him what would the next rumor is going to be he so take it away your thoughts on the present five in Korea China etc yeah so basically I've lived through so much of this now so first of all we had it with Russia think that was like 2013 2014 we're like over that central bank or people in the Ministry of Finance there were always on the verge of banning cryptocurrency then two weeks later it's like we're not banning it then we're banning it again and then again like I think that the Chinese flood was used to cap the market in 2013 and 26 the beginning of 2017 I think where you had yeah end of 2013 that was literally what ended the ball run was like Chinese saying financial institutions everyone thought it was a Chinese I'll ride Chinese ban on Bitcoin turns out that China was only banning financial institutions from working the Bitcoin companies so the fact that that was misinterpreted um caused a humongous pullback in Bitcoin from the high of a thousand dollars back to five hundred and then we saw again at the beginning of last year when we breached all-time highs again the PBOC came out talking about how they're gonna clamp down and all the exchanges hands again it just it pulled back the price from those highs and everyone for we were gonna pull back and luckily the one thing that the reason why we didn't pull back as much that time is something like all the the half-life of FUD so more and more you repeat or his third the less powerful it becomes so over time they keep on repeating it no one cares anymore it's just it just becomes noise in the background and so yeah that's why I want to say to people is a lot of stuff is noise you have to remember like your underlying belief of Bitcoin or what you need to understand about Bitcoin is Bitcoin is more powerful than any individual group corporation bank or government on the face of the planet there is no entity out there that is bigger than Bitcoin Jamie Dimon lent that this week when he had to pedal back on calling Bitcoin a fraud because he learned the hard way that he is not big and a Bitcoin nobody on Wall Street is bigger than Bitcoin the entirety of Wall Street city of London and Frankfurt and Germany are not bigger than Bitcoin there everyone is beginning to learn this is what I said at the beginning of 2017 is that that was a year of capitulation to Bitcoin everybody is capitulating to Bitcoin because bitcoin is the Alpha Network currency in the world you know everything is capitulating to it because it's just so powerful you know your son continents people work on this open source project to decentralize the existing legacy system and there is no way they can shut it down you know like that's the one thing I will say about all this fad you can like the officials can try to slow down Bitcoin but they cannot stop Bitcoin you know they can try and slow it down and this is the dichotomy that governments find themselves in now is that there's free main problems they have a Bitcoin and this is why they keep flip-flopping because they do not know what to do they are an absolute dichotomy of how to approach this because on one hand if they try to regulate Bitcoin like it takes ages for them to draft legislation anyway that's one of the things that came out from the South Korean news yesterday was that they were only planning to clamp down on cryptocurrency exchanges in the country that weren't compliant with existing regulations so that for one was the first point and you know it can take them literally years to previous legislation by the time they put it through sometimes it's out of day anyway and I think there was one case where legislation was put through in one country I can't remember the individual details but all the companies that were gonna be regulated on this regulation literally just changed the definition or the terminology of blog chain in their documentation and then all the legislation was like obsolete so that's the first problem they face the second is that regulatory arbitrage is the biggest defense that Bitcoin has so any country that comes down on Bitcoin or the entrepreneurship and already people who really want to work with Bitcoin can leave that country and go to the next country that offers the most preferential environment for them to sell a business so regulatory arbitrage is literally one of the most the best defense that Bitcoin has gates any draconian regulation from a nation-state and the fact that there's 200 sovereign states that can adore Bitcoin is one of those biggest reasons and again this is the next problem that the nation-state has and this is why again they're in such a dichotomy of what to do with Bitcoin is that if they clamp down and really try to suffocate these centralized bridge services in Bitcoin using heavy regulation draconian sort of regulations to try and restrict people's freedom then all its gonna do is incentivize the free market to speed up the production of decentralized services that means we don't even have to use the centralized services so things like decentralized exchanges these and decentralized wallets which we already have to some degree bar every single service in the world would just become more more decentralized the more that decentralized bridge services get clamped down on by central authorities so they're fighting a losing battle and I think like I said 2018 is gonna be a continuation of everybody capitulating to be a coin because there is no way around it for them and to me for me it's like Karma for the politicians and the bankers because after 2000 a they completely disrespected like the politicians disrespected the rule of law they didn't implement there was a two-tier justice system which you know when you think about it the rule of law like didn't arrest any bankers and the rule of law is a cornerstone of democracy say the fact that these politicians are just tied in or not now it's just the universe saying you know you messed up big coin is here to take over and resolve all these prompts that you just sat on your ass after 2008 and didn't do anything about and it's same for the bankers people like Jamie Dimon you know like they're learning the hard way that you know if you're gonna screw everyone over commit loads of fraud during 2008 then turn around pay yourself bonuses out of taxpayer money then something is going to come along and and disrupt you and but yeah like I said all of this stuff you got to remember deep down that Bitcoin is bigger than any individual group corporate whatever it is bigger than them and that is my underlying belief and that is why I've never sold on all this fun news the half-life of thug terminology I'm loving it I'm loving it I'm gonna have to incorporate that into my sayings there that is a really good one it's really true but the fun from long ago used to be a lot more powerful you still last a lot longer and now it's just it's life cycle is short which is which is great so Martin down in Australia when when the price was dropping like $2,500 in a day did people know was all because of this Korea stuff and do you anticipate your government will one day make insane proclamations like Korea and then walk them back or is it here's us Australia a little bit uh is that government entity a little bit smarter than the Koreans well obviously living in Australia and running a not-for-profit and being part of society you know I think Australian government is awesome you know I love so yeah so I mean yeah they tend to be you know very risk-averse and pragmatic when it comes to looking at regulation there was saw back within the community for a while now around the double GST of Bitcoin so basically Bitcoin at the moment is taxed as a as a kind of a barter transaction or an intangible asset every time if so if you want to accept Bitcoin for good or service and you have to pay GST which is good services tax or 10% the good services tax that you're charge on the product that you're selling so it's kind of like a double GST so it's not treated as a currency is treated as this this barter barter transaction which obviously slows down any retail adoption because no one's going to want to have to charge ten percent on top of their what they charge everyone else so so however they are they have they are mending that now and it is going to be treated as a as a currency there is regulations that's cut so they I think they've scrapped that double GST now and there's going to be regulations that are coming in around the exchanges so the fact that you know they've been quite public about that would lead you to think that there's not going to be any sort of like shut down of exchanges you know the fact that they're working with industry and looking to create the right regulatory framework which I mean yeah I mean I I'm on I'm on I sit on both two sides really with regards to the regulation because you can't really regulate Bitcoin right how can you regulate the Bitcoin you can't the code is the regulation that the mining the infrastructure the ecosystem is the regulation but you know there's can of protections that you know if people want to use it then how do they use it safely so you know how they transfer their Australian dollars into Bitcoin you know that's a that's a space where obviously decentralized exchanges that's that's that that's the future I hope it's gonna they're a little bit clunky to use right now I'd say you know not really fit for most people but but yeah I think as we said before like I mean I think it's just a case of the technology will always find a way if people see that it has value and they want to use it and then regardless of what regulation comes in you know new technology will be developed and the regulatory arbitrage point is is a perfect example of that so if government sort of clamp down too heavily and then businesses will just move to it to it to another more friendly jurisdiction right so but I mean there's there does seem to be positive a positive like climate here in Australia and there was the Friends of blockchain sort of parliament also we were invited to go up to Parliament in Canberra first time I'd ever be there that was quite quite nice so that this senator Sam dusty re Jane Hume along with ADCO which is Australian digital commerce Association and put together this sort of forum group to talk to engage with industry so I mean yeah whether it's just all rhetoric and whether the regulation that comes out eventually is really draconian you know for now it would appear that you know the regulator's policymakers local industry are working closely together to try to kind of put something out there that there isn't that doesn't inhibit the growth of the ecosystem so I think it's positive here in Australia you know I think if even from Australia dear they've come out with some draconian pronouncement I think the real a word that there will not be the same reaction well first of all the Korean market is tremendous but also there's no language barrier lake it parted when Korea sends out something or when China sends out these messages it's it's totally misinterpreted by the rest of the world was they don't know that they don't understand the language it's lost in translation I'm just thinking about that right now so I I don't think Australia could even cause this type of fun if they wanted to but they won't they don't want to and for now at least and they are getting rid of the double taxation one last question that I thought of when you mentioned transactions what's this I know a guy in Perth who is a B cash fan he's a big cash fan and he said he's a nice guy what's the story from your perspective do you have people asking you about being cash in the B cash versus Bitcoin uh I wouldn't say it's a battle but the attempt of by beat cash to perhaps claim the name Bitcoin sure sure yeah I mean it does it can be confusing for people I've had people approach me recently about you know look at Bitcoin cash be cash whatever you want to call it it's kind of like it is is it does get confusing so yeah I don't really know what to say about that really I mean I just I think it is an altcoin I think they all have I think all of them have their merits because they're places where people can experiment and their communities develop around them and you know I think but you have you been in Austria and there isn't like you you haven't been no one's targeted you guys or anything like there's not big controversy right now now between the between the two parties I mean you don't have a lot of people saying oh this is me we did some bad it's up here to say the least it's it's there's a lot of drama is there is there much drama between the two down there no I mean I like I think it's really important that the with regards to the community made up groups and injured in just in general how we interact with each other whether that be online or in person you know that there's there's like mutual respect from the start and then it's about sort of proving the valid points and like just talking it through and letting people sort of you know go with what they they that this that suits them you know that fits with them you know and then and then an educated community or an educated market will will decide which projects or coins currencies have the most value and those will be the ones that sustain themselves and and and that live on right like what we were talking about before the the potential for this to be likened to a dot-com bubble well you know after the dot-com bubble there were some companies that that carried on and there have been super successful that but the vast majority were weren't weren't very good projects and we know they they went bust so probably something similar might happen with the with the crypto currencies as well you know the ones that have utility and the ones that have a strong community will will live on and so right now you could probably just pick any of the all coins and put them on on a board and throw a dart randomly and pick one and it goes up a hundred times you know it's kind of it's there's not really a lot of science to this other than just probably professional traders just going picking a coin and and buying it and then going on to the next one and the danger is is you have people that are signing up to paulownia expect tricks or trying to they can't sign up instantly and and they're they're just buying these they're they're kind of like penny stocks and invariably because most people aren't professional traders they're going to get burned but maybe that needs to happen for for the for the ecosystem to mature and for people to be educated to make better decisions so so yeah all right well now then then actually has something to say about be cash but before he says anything I want to thank Tech Technium Unlimited over in the super check he says please use decks crypto bridge and check out ignition I see and he sent fifty dollars the to say that thank you for the $50 super cheque anyone else over there be my guest send it out well answer your question we're running toward the end of the show right now but uh we gots a little bit of time Benny what do you have to say about B cash I mean there was a pump right before the Korean fight and now it's forgotten which is very interesting yeah to me everything with with the whole be cash thing it seems to be a little bit just kind of yeah yeah they have their pumps and everything but it seems to be fizzling out other than you know like as far as this is bitcoins replacement I don't see much of that so the last major pump when when Bitcoin had its it's huge drop down before the new all-time highs there was a lot of people coming into the office wanting to buy Bitcoin cash mostly like brand-new Bitcoin users saying that this is this is the next Bitcoin and they're buying into you know right before the the major South Korean pump or went to 2,500 and then got cut in half mostly just people running running in the door chasing the price right and so you know not with too much technical knowledge about how things work and and and the different approaches to scaling of either project but mostly just chasing the price since it it you know it hit that number 2 spot and then drops number three and now number four again on on coin market cap I now the only time it's very very seldom that anybody's coming into the office asking about buying be cash anymore maybe once a week I'll say somebody but mostly what gets brought up regarding be cash in the office is if somebody downloads the Bitcoin calm wallet and they've mistakenly hit receive and don't realize that it defaults to a be cash receiving address and then we have to help them figure out how to retrieve their funds so that's that's pretty much the most of the encounter like obviously if I if I put some funny up on Twitter we're going be cash then I get it attacked by you know a ton of a ton of trolls but that's okay because I'm trolling when I post something like that anyways but you know that that's that's pretty much what I'm like working in the space that's mostly what I'm seeing I saw people chasing the price but those same people were coming back buying Ripple because that was going to replace Bitcoin right so it's it it seems to mostly just be you know other than other than the people that really really love the approach of be cash it's mostly bandwagon jumpers trying to catch the next big thing but most of those people get wrecked so you know like it's a I I don't think that it has the sway that it used to are at least the it's not the threat that people perceived it as I think it has a community that will continue rallying around it because a lot of those people are very passionate to put it lightly but I don't I you know like when you value it in Bitcoin when you look at the the how much Bitcoin do I have to spend to get one be cash it hasn't really you know hit those all new all-time highs in quite some time so I don't perceive it as much of a threat then you know they're happy to have their own project and I'm happy for them to have it but yeah I don't see much of an issue with it anymore well yes I only bring it up because it did have that pump earlier in the week and that that was newsworthy it got up to 20 you know we were talking about everything being cyclical that uh you know with China THAAD is is recycled as the Korean flood there's going to be a flip inning well the other thing that's quick will go is that be cash seems like it's dead but it oh it returns the 20% again and then comes back down it's just it will we're gonna have to get used to it it will be rebuffed and Rhee pumped and Rhee pumped and that's just didn't you know good good luck to everyone involved in whatever coin your involvement for me bitcoin is the one by a little bit coin I want to remind everyone I am in Los Angeles right now and tomorrow in Century City is the meetup or today Friday is the meetup at Century City at 6:00 pm I will be there I will speak there Anders is the main speaker there he puts it on at 6 pm

in Century City link is below also linked to below is um speaking in an event in San Francisco world crypto economic forum on Monday and that event is on Monday and Tuesday in San Francisco check out the links below if you're in the area and if you're in Los Angeles I can I mean hang out on Sunday also Friday and Sunday are my hangout days Adam and treszura help calm and the guy who do the super chat reminds me that Dex that's a decentralized exchange yes when he said Dex so use decentralized exchanges although they're really very very few of them right now alright let's go to everybody's uh things that were left out things you want to add stories you want to say any comments you want to make on other people's commentary let us start with a renegade investor what it would have you heard that you wanted to add to anything you have anything before is I'd like to talk about definitely like oak poison be cash and all coins because I've helped like says so many people up in Bitcoin you know I guess that I've been wallet exchange things like that and the one thing that happens every single time is literally these are people that are brand new to the crypto space never invest it or trade it in their life and you know one or two weeks after I set them up in Bitcoin they come to me and go weird about this coin that coin is this gonna be big should I put money into this and the one thing I want to say to people is you've got to be really careful with old coins like I didn't give financial advice okay but this is how I would approach it ultimately you want to have like like the first thing to understand about the oh oh the Oakley market is that it's cyclical it's not a case of invest and forget okay and that's just and the reason for that is because not only do you have like the risk of the USD price I'm fluctuating but you also have to price old coins against the Bitcoin price so you know just because something goes up in USD value the fact that you converted your Bitcoin to buy it doesn't mean that you're gonna be in profit because the big coin price against that all could have actually gone down so its first importance to take into account that the old coin market is cyclical it seems at the moment that it comes at the beginning of every year because at the beginning of 2017 he saw the same just a big old coin rally and we're seeing the same this year and I actually predicted this back in November when I did a talk with Andy Hoffman and said that 2018 is gonna be the beginning of this old coin cycle and the reason for that is because I saw that audio coins priced against Bitcoin were at the bottom of their range that they were all bottoming out into a period of accumulation and this is one of the best tactics I will give to people okay if you've seen a old coin market that has gone skyrocketing like it's not a good time to get in what you want to look for is a constant downtrend and once you get to the bottom of that downtrend you have a period of accumulation where the market goes flat that's the perfect time to start accumulating a position in an old coin and definitely when you have a break out of that channel the initial breakout that is a really good time that we're gonna have or really good indicators I'm gonna have a reversal in the old coin market one thing I would say to people is you shouldn't be using in my opinion like again I don't give financial advice but if you're new to these markets you don't want to be using more than 5 to 10% of your portfolio in old coins you want to have a core position in Bitcoin which is 90 to 95 percent because bitcoin is the king of crypto and there's nothing at the moment in my opinion that is gonna be threatening my position anytime soon so you want to use maybe five ten percent and also when you're moving into an old coin like one of the mistakes I made when I first got into all coin investing or trading is that I would just chuck everything in at once into one position I wanted to be in but over time I've learned that scaling in is a good way of reducing risk you know maybe put in 25% of the position you want to put in if you get a confirmation the trend goes all right wait put in another 25% so you're not chucking all your risk in at one time and risking that the market is going to dump on you and also like as the price goes up if you're up 500% on a position just take some profit off the table like so many people get greedy now like they want an X or something like you know if you're up 500% again scale out of the position on the way up that way if you get a big reversal you've already taken profit off the table but um one thing I'll also say to people is you know I actually got a text off a friend this week and he said um this is so nice set up recently and he said you know I've just bought some ripple because I noticed that the price was cheap and I could buy more coins but the thing I want to say to people is just because a coin is cheap it doesn't mean that it's relatively cheap you know you've got to look at how many coins are issued how many coins are circulating how many coins they're gonna be in total how many are actually held by the founders how many a pre mind because if you looked at the adjusted circulation price of ripple in particular against Bitcoin like it recently hit fourteen thousand dollars per coin so just because it was cheap it just means that there's more coins of circulation you know and like it has a higher inflation rate so you have to take all of these things into account just because you login it's coin market cap and you see coins that of one dollar it doesn't mean that that one dollar is then gonna turn into a fifteen thousand dollar market like Bitcoin like that's the mistake I made as well when I first moved into this old coin market in 2013 and when I first start investing in old but yeah just those are some of the best tips I can give to people you know just be very sensible with the risk because there are people that have been trading these oakley markets for five years day in day out and if you go up against them when you haven't even traded in your life and you're really new to these markets then you're gonna be holding their bags on the way down like thus mostly what is gonna happen them and like one thing I'll say as well if you're going in this size like spread your risk across multiple exchanges you got like by Nancy Pelosi axe bid tracks don't have all your trading account on one exchange because if that exchange goes down you want to be able to decentralize that risk and have it on multiple exchanges and then another good way of playing these markets is to compound profits so if you've taken profit from an altcoin you can then say yourself five hundred percent just roll it into another old coin that is at the bottom of this range you know just coming out of that accumulation stage so that's a way of learn taking risk off the table and then potentially compounding those gangs the one thing that I really want to say to people who are in old coins you have to remember that the name of the game in old coins is to accumulate more Bitcoin 999% of these old coins are gonna go into their history bins once lightning guess and there were big coin guess lightning and this market matures we're gonna have that calm I think blow-off table where 90% of the United Kahn companies went to nothing and I really think the same thing is gonna happen because long term they don't offer any value proposition above and beyond Bitcoin so that's what one thing is really important to understand is that the majority of the big players in the old coin space are doing it purely to increase their bitcoin bags and one thing I just want to mention about if I've got time just on just on be cash is that there's a brilliant I scored it just came out by this guy called Malik man who kyun I saw if I pronounced the name wrong it's quite a difficult one but it says the title of it is Lightning Network enables unicast transactions in big Bitcoin lightning is Bitcoin his tcp/ip stack I've got it on my Twitter account right now so if you go to about the fourth tweet down but it basically makes the case this guy's a network engineer and he says that if you try if you're like like be cash is trying to scale you know – maybe like visa her like unchain it is literally going to be physically impossible with current technology due to the fact that every single transaction has to be broadcast as opposed to having peer-to-peer transactions which lightning Network channel or payment channel will give you and it really really hit home to me just how the Lightning network is gonna be I think the ultimate way to scaled a Bitcoin network and I really think for me has drawn a line under just why the bitcoin is still just untouchable in terms of be cash versus Bitcoin and you also have to take into account that would be cash you got a centralized risk is sensible and it just really doesn't have the security of Bitcoin and and it definitely doesn't have the management team of Bitcoin core which are literally made of the best developers in the world so for me I'm not really concerned about Bitcoin and B cash anymore I really think Bitcoin is still the king of crypto and you know I'm open to it I'm up for the free market but at the same time I really don't like the fact that be cash has come in here and tried to plagiarize the brand of Bitcoin without doing all the hard work that has gone into Bitcoin from Bitcoin core over eight years no well let me say this value your wealth in Bitcoin buy and hold Bitcoin people pound that like button thank you for all that information and I will find that link and I will link to it below all of their links are below including renegade investors twitter so you can check it out too and find the link right now that he's talking about and that was very interesting let's move on to Martin I hope there are a lot of people from Australia watching right now this is a very convenient time for you guys you're about to eat dinner on Friday evening so Martin any any final thoughts any Australian news you want to share with the people in Australia out there are the people of the world you've got a very unique perspective we don't get to hear about it very much here in North America so take it away anything you want to say sure so we're wrapping up now are we yeah yeah okay cool okay well yeah that's it's been a real privilege to be on the show and thanks very much I don't fool a worker you keep doing because you know and the proponents of this Center is all about education the co-working the community events it all starts with education so they're more people that these shows find and like listening to like educated experienced views then the less people are going to get burnt and they know what this is industry is all about so so yeah I kind of you know we've got a couple of really exciting new programs coming up and we've got the Australia's first blockchain incubator program which is going to be kicking off next month and so open applications are open for that at the moment and we've got a team of about 50 mentors from different backgrounds blockchain Bitcoin developers professional service advisers so and it's going to be like a beta style community style project it's not going to be a commercial or equity style incubator program it's the first time that we're doing it and for the community have given us really good response about it so we're looking forward to running Australia's first blockchain incubator program it's called lock engine so that's the name of the program block engine and and then next month we're going to be kicking off Australia's also first 70 hour six-week blockchain developers course and so if you're a developer you've got basic programming skills and you want to get into this industry obviously it's a booming industry and there's lots of companies crying out for developer talent and there's really not a lot of blockchain developers Bitcoin aetherium developers and you know pick you pick you a coin that you most want to develop on and so so yeah it's a real opportunity to get the skills do the course and then and we have networks with recruitment consultants as well and companies that can help you actually find a role as well so if you're in Australia and you're in Melbourne then please sort of check out our blockchain incubator program but all of the programs that we run here at the blockchain centre are actually going to be going out to all of the other global blockchain centers as well so everything we do here you'll be able to do at the local blockchain centre so the idea is to set up blockchain centers 20 20 new centers around the world by the end of 2018 that's the that's the mission so hopefully blockchain centers will be coming to a country near you and you can learn the skills to become a Bitcoin developer and if people join the community groups and have somewhere to start your business so if you go to our website it's blockchain centercom a you also we've been doing some events on facebook live and so if you go to facebook blockchain center and we've got quite a big following on twitter now which is blockchain CTR so yeah please check us out and follow us and come by the center and yeah good luck to you all and we made these up a couple of years ago we've been sending them around the world to people in the prominent in the space so guys let me get your get your mailing addresses off you so I can send you a a bob bitcoin he was he was born in a Bitcoin mine in Australia and so yeah make sure I you send me your addresses and I'll send you out a bob bitcoin okay I like t-shirts but I like that's cool so and thank you for the unique Australian perspective and it's just the education that you guys are doing down there you got it going on with these blockchain centers it's a good thing and I'm glad you're spreading them all over the world it's a great contribution originating in Australia BT cbenni we're gonna let you have the final words here what did we forget what do you want to say what I mean you deserve the final word you're suffering through the negative 70 degree weather it's concrete it's so cold here man I gotta scrape my windshield on the car every morning it's awful but I'd like to mere some of the stuff that renegade was talking about here mostly in regards to I guess the the craziness of the altcoin markets and and a lot of new people getting involved in cryptocurrency so I would say the number one thing the most valuable thing in cryptocurrency is education if you don't understand why cryptocurrency in general why the cryptocurrency you're holding would be valuable or the technology behind it then you are going to be irrational as the price bounces around so number one thing take some time and understand the first cryptocurrency out there understand Bitcoin why was it valuable in the first place why do people still find it valuable why is it still in the number one spot understand Bitcoin then apply those metrics to other currencies and then make that call the other thing we were talking about coin market capcom which is one of the sites you can go to see kind of a ranking of crypto currencies where they're at so a lot of people go there and they they just look at the price and they just look at the name of the coin and that's it but there's other metrics and you need to pay attention to those in particular you should be moseying on over to the column that says circulating supply because right there you can see how many are out there and curiously there's a number of them now in the top 10 that beside the circulating supply there's a little asterisk and you need to ask yourself why so for instance you look at ripple and it says there's just shy of 39 billion of them but there's an asterisk so you you click on ripple and you go well what's going on here well actually there is a hundred billion but 60 billion are held by ripple labs and you know in other cases you can't mine it or there was a major pre mine so the people that created the coin mind and didn't let anybody else mine for a period of time to accumulate some of themselves and then opened up mining to other people so you need to pay attention to those metrics can because that can very much impact the potential value of the coin down the line don't look at a coin that's 30 cents and say well one day it could go to the same price as Bitcoin because odds are there's like a hundred billion of them on the market so you need to pay attention to all the metrics and as well as understanding the technology unless you're just rolling the dice and who knows you might still make money to even ahead in this market anyways but yeah I do want to say education is key and the more time you can spend educating yourself the better and I think I'll just close with that very good point to end on with education and I have this feeling that you're gonna be involved in like some really cool education projects soon I just got this feeling dude I hope you sould be involved in some – I'm a deluge anyway so everyone I hope you enjoyed the show we do this every Friday it's this weekend Bitcoin of course on this channel I post a new show every day the one Bitcoin show or at least one news show a day so thank you guests from all around the world for making it out here some of you are up really late some of you are up really early and some of you are up at just the right time so thanks a lot i'm adam meister the bitcoinmeister the disrupt meister remember to subscribe this channel like this video shows you check out the notes section below pound that like button I will see you guys later talk to you to chat