Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to this week in bitcoin today it's September the 27th 2019 strong hand be a unique beast long term thinking one Bitcoin equals one Bitcoin offended by selling Wyoming is America's emerging market you don't get to hear me say that line very often do you in fact the last time I said it was when Kaitlin long was on the show as she made off that line and now look she's back she's here she's gonna tell us what and you know what you all you guys all those people who are fans of doom and gloom this show definitely is not for you this is the high-energy who knows what happiness and just golden age looking forward to the future stuff is going to be talked about so what happened this weekend in Miami walk welcome back thank you Adam it's awesome and yeah I am in Wyoming I'm in a hotel room we just finished the Wyoming blockchain Stampede which kicked off last week with governor Gordon signing a proclamation to make Wyoming the cryptocurrency Haven of the United States I didn't think I'd live to see the day or probably a lot of us didn't think we'd live to see today when a governor of a state would say that but he did last week and then we had the the task force the last meeting of the task force before we start doing all the legislative machinations we recommended passage of seven bills some of them are disk cleanup technical bills one really important one is it allows the new special-purpose depository institutions to serve retail clients watch because some the exchanges in this space may come in to Wyoming as a result of that one change and we're also going to allow insurance companies to invest in crypto in Wyoming and two really important ones that I think your audience will love one says that in the state of Wyoming the state cannot ever compel you to disclose your private key now again this is at law yet it has to go through the process but this was something that's you know the commune he asked for could we could we have an absolute prohibition on ever you know a judge or in criminal or civil or administrative proceedings you will never have to disclose your private key if this bill becomes law and we also had one we were going to actually Allah allowed aus to have legal recognition in Wyoming but instead we basically said why don't we just basically take the criminal liability away from developers so the state can't criminally prosecute developers for writing code and you know you can still be criminally prosecuted if your code steals something all right if you've got a backdoor that the frauds people etc those those theories of criminal liability absolutely still hold but just simply for writing code there that that cannot be you cannot be solely prosecuted simply for writing code then after that if that weren't enough we went to y/o hackathon we had both a developer conference and a business conference charles Hopkinson released the new release of Plutus which is to smart contract programming language and and jesse pal brought a whole huge team of people from Kraken and shape-shift came up and started teaching Bitcoin 101 to you know regular folks from the public and I would say from the hackathon a couple of big takeaways number one all of the hardware wallets flew off the shelves in on day one nobody began to bring enough inventory of kikis and then we had a interesting company I'd never heard of until I connected with them a couple months ago about this it's called decent wallets and they have a biometric Hardware wallet they're out of Korea and they too ran out of wallets on the first day I was just yeah it was so interesting pop was here and he said you know sometimes I go to these conferences and I kind of think it's just a run-of-the-mill but he said this one I'm coming away so pumped on Bitcoin it is such a developer focused conference and and then you know we and this and this is what happened everybody is just scrambling to get Hardware while it's right and left the other big takeaway I had you'll love which is that kids ruled the world we had a 13-year old CEO of a company who was foul ting off the the limitations of his SEC no action letter like a you know a 30 year old CEO he was so amazing and then we also had a team of eighth graders from a tiny town in the middle of Wyoming who and he brought he brought this team of eighth graders and and between his team of eighth graders and then the other teachers team of high schoolers they won three prizes in the hackathon so it's amazing it's it's kids rule the world well there's a lotta brought a lot there and I've got questions first of all everyone found that like button if you like this energy and Kaitlyn Sherman you desert you don't want to can see the shirt you're so you're sort to this long big point you guys get it do you guys all right yeah you said some end well first of all you're not only talking to talk you're walking the walk but you moved back to Miami get you I moved back yeah move back bought a house in June and and you know it's because this is the place to be there's so many reasons for this too for folks to be here this community is building and it was really fun during the task force meeting every time a company got up and testified representative Tyler Lynch well would ask them are you Ohio me company yes sir have you moved to Wyoming it almost all of them it's really the region Hopkinson was so prominent here is that he I which came up to Wyoming as well he's been doing a lot with the University of Wyoming computer science department so folks it's happening we're coming here and I was told by the developers at the conference that that proposed law that says you won't have to reveal a private key that's gonna make people want to put you know Cloud Servers here and you know there's there's a there's going to be we don't want concentration risk in Wyoming I'm not arguing for any sort of centralization and you know in Wyoming but I think what you're gonna start to see is that people will start to to try to take advantage of the of the protections here by Thomas styling there there are foundations for their open source projects here in Wyoming for example or you know developers actually VPN into Wyoming for example or that or you know all the cold storage happening in abandoned missile silos in Wyoming right there just it's I think there there's gonna be so much creativity not necessarily move here but are gonna do everything they can to take advantage of the laws and I it's interesting that you said that company came up from Denver the key key people came up that's uh yeah shape shift baby ship that's what I meant to say so I mean maybe that that's very convenient that's again take advantage of Denver's proximity I like that a lot now you said something that was shocking to me you said the harbor ballots were going off flat they ran out of hardware Lots now yeah they've being sold at a discount where they're being sold with the begin given away what was because I from what I've heard harbor wallets generally are not selling right now so this is a positive development well at least I owe hackathon these two companies that brought a whole bunch of them ran out I don't know how many well it's the decent folks abroad they actually we're just taking a sign-up list for people who wanted to have them mailed from to them from Korea and again it's it's it's a two-factor authentication using biometrics so it's it's a different approach than the Ledger's at wrestlers and keep keys and I until I ran into Monet or Simpson who's a Jamaican living in Korea that is that guy with a Wharton degree I just love him is just so global it's just a perfect example of this industry how noble we are and he shows up and and just blew people away with the with the device that he had but but then the the shape-shift people brought 500 of them up and they offered to keep selling as I think you may know they just had their fifth anniversary and so they were selling them for $5 and so they offered to sell them for $5 up here in Wyoming so so yeah they were discounted but they weren't free they weren't giving them away and and yet you know people from the general public actually the reason shape-shift came up is I asked them to because there are still a lot of people as we know who don't know how to acquire and store Bitcoin and you know here we have this huge events on campus and it's brand new engineering building that was almost purpose-built and and so we had a lot of people from the general public coming in and going up for some free tutoring from the shapeshift team on how to buy and store Bitcoin Wow well okay so that you gave a good explanation why they're flying off the shelf that's five dollars is a I be buying a heck of a lot of them that's really awesome though that they support the community like that these decent wallet you're gonna have to send me the link for this Korean company that's very bare very intrigued us not there that'll be linked to below including Caitlin Long's Twitter is also linked to below all right let's one thing that was very exciting also that the state of Wyoming isn't gonna be able to take an air force anyone to reveal their private key that is cool as anything you're absolutely right that should be you should be shouting that to the rooftops who knows how many people want to move there or domicile that whatever put their companies there now uh one thing trace Murtagh rat-race mayor I think with trace mayor there this weekend yes oh absolutely he was sure ya know now he is a wise man and last time he was on my show he always freaks people out about one thing and think you freak people out about was how you can establish a home for your Bitcoin in your cryptocurrency in Wyoming and thus it's safe oh yeah you sorry yeah yeah sure you know it's it's the locating Wyoming how do you locate a digital asset right and I know that that sounds really strange to every but the question is you know how does the legal system interact with digital assets this is not just about blockchain this is about digital asset you know air rights for real estate or a trainee intangible app it's probably a better word it rides for real estate or intellectual property and and the legal system was written when it back in the 50s in the US when everything was tangible well we got a bunch of intangible stuff now so how do we handle it and the answer is you still actually have to figure out how to have jurisdiction of the law that now some of the purists who are listening to your show are thinking wait a minute code is law why do we care the problem is what you don't want is multiple jurisdictions claiming that they have jurisdiction over you at the save time so you end up in a worse situation where if there's a dispute because you bought Bitcoin but somebody else claimed ownership of and then a judge even up in court and a judge is saying you know you've got multiple jurisdictions go after you saying you know that you got to give up your Bitcoin how do you defend yourself so this is actually an attack vector on on high Bueller's it is and and it hasn't happened yet although believe it or not there's been litigation in Wyoming already we're starting to get court cases in Wyoming relating to digital assets which is which is great because that's lawyers love that right it gives legal opinions that make it really clear exactly what the legal status is so so so part where trade is going he's the lawyer by background as well is he's trying to figure out how do we minimize this legal attack vector on this on this industry and one way is to create a means by which you you locate the asset and in Wyoming and and it's just a legal construct it has nothing to do with the code it has nothing to do with with you know whether the servers are in Wyoming or whether you're you're cold wall cold storages in Wyoming you you can do that of course and it makes it easy if those things are true but if you're not in Wyoming and you are you know you're living in Zimbabwe or something like that you still there are still ways that you can get the protections of the legal structure of Wyoming by setting up a Wyoming limited liability company and the like all of these are creatures of the law they are not it's anything that changes the Bitcoin core code at all but our belt-and-suspenders it's it's waste to shut down the attack vectors on you well I'm one of traces ideas is and I'm sure this is what made people go a little nuts as well is a lean cleansing provision I'm and you may be thinking what the hell why do I care about this well you know right now with Bitcoin at ten thousand it's you know look let's be honest we're still in industry if it coins out a million okay everything we're we are all hot us that our targets not just not just for theft of our private keys but also for these legal attack vectors where somebody's gonna claim that they own that Bitcoin let me give you an example of where this is very realistic it's it mark people are lending their bitcoins ready left right now and you don't know whether when you put your coins on you know on a block by or assault lending or any number of those Coast platforms I'm not singling any of them out but you all know what I'm talking about people you'll deposit your Bitcoin there and then they will lend it out and what you don't know is whether or not claim that somebody else had against your big comeback to enforced against you by a court at some point down the road and and you know that's something you have no visibility into because they're not showing you the legal documents of you know who they lent your Bitcoin to their whether that lien was released to use a legal term a lien is like a mortgage when you when you borrow money against your house there is a something called a mortgage it's a lien that says that the lender has the first claim on that oh your house snappy is it East you're gonna end up in court well that's exactly what we're talking about here if if one of those platforms sells your Bitcoin without that mean somebody Mike after you you would have been a completely innocent party but you may end up having to give up your Bitcoin now in Wyoming he won't be forced to reveal your private keys but they to be clear and it by the way that's not law yet there one of the questions your listeners are probably thinking is well wait a minute does that mean I can just steal a Bitcoin you know hide it from my spouse that I'm divorcing from or you know never have to use it to satisfy a judgment no absolutely the judge the court can still can compel you to deliver the assets or publicy but they cannot you know the private key of this if this becomes law so we are we are definitely talking about edge case esoteric stuff here I get it and that's probably making some of your listeners minds explode but it's less relevant now then it will when Bitcoin is at a million or ten million right and all of a sudden everybody's going to be coming after all the hollers hmm this is a pretty long term thinking here I get it but have people you there are ways you can kind of avoid some of this trouble you know with the block by example not picking on them don't load out your freaking up Bitcoin where you you get into situations where someone can question the title who question who really owns it that I mean that's what I preach here just get that hardware wallet for five dollars and store it never loan it out you go back to proof of keys right that's what proof Keys is all about you know and it's not just it's not just the coin landings right visit says it it's backed and ledger acts and it's even all of the custodial exchanges if you don't have custody of your keys you don't own your Bitcoin and so I don't mean to test Angola quo in lending platforms I shouldn't even be naming any of them but what I'm intending to do here is to lay out that all of them the moment you turn those bitcoins over to them you don't know what the what what the true title history of those coins is except for what's recorded on the blockchain but all these legal constructs like liens and things are off chain and there's no way for you to keep track of you know if you've got margin lending claims against the coins that you bought and you are a totally innocent purchaser it's the it's theoretically possible and I think it will happen increasingly that that somebody's going to get sued for having bought bitcoins that somebody else claims to have owned okay yes you really flushed it out nicely so the people I think it'll calm people down and I I understand it a lot more than I previously did also a real life example this is good stuff all right people count out like but now we're gonna move into the broader financial world the repo the repo was lat explain what that was and what's it got to do with Bitcoin because you've got some you've got some thoughts yeah I'm actually writing this up as we speak the the repo market as you know I came from Wall Street I spent a lot of time in and around that market and it's how the big banks fund themselves they fund themselves overnight by pledging securities on their balance sheet as collateral for loans back to this whole lien concept we were just talking about rights it's what's called secured financing well there were there were a couple of banks last week that were so desperate for financing that they were willing to pay 10% overnight on clean collateral like a US Treasury okay so what does that mean it means the financial system run out of cash so I've been thinking about that a financial system ran out of cash last week and the Fed had to pump more in by basically diluting all of US dollar holders to the tune of I think was 58 billion the first day and it was 75 billion on Friday and and and so basically it's propping up zombie banks now a little esoteric here if you think about a US Treasury that's supposed to be a so-called risk-free asset we all know it's not but but but but that's what the financial system thinks so why is it that somebody was willing to pay ten percent to be able to finance on a risk-free asset that has a very very low interest rate there's something really upside-down on that and the answer is that of course we know that those assets are not risk-free they are the most fractionally reserved assets in the financial markets US Treasuries are the IMF did a an analysis of government bonds and estimated that there are three people who think every government bond outstanding and so the truth of the matter is that those things are fractional-reserve just the same way traditional banks are fractionally reserved which means that they are all technically insolvent and the Fed props them up by keeping them liquid but they are insolvent so this is all super great you know teaching moments for us in the crypto world to explain to people it is pretty scary what happened last week now the Fed can always pump you know can bail out the financial system by pumping in cash which is what it did but we came that close you know the fact that we came that close to a real problem should be making everyone pause and I think it is by the way a lot of people are talking about this it's a great teaching moment but but I will I will also say I'm moving back and look how fast Lehman Brothers collapse Lehman stock was about $18 the week before it went to zero that's unusual right if you think about like the retail companies like I was looking at JCPenney the other day a great old company and its stock is trading it like 75 cents right but it has been for a long time so the market is saying look you know the chance this company survives is not very high when the stock price goes down that way that goes down that far but it took years to get there in Lehman's case it took a week to get from 18 to zero and so what does that tell you that tells you things can online very fast in the financial system and so a company that appears solvent one day can be out of business than X and and the reason is because they lose access to the repo market it is ground zero for financial services instability and so that's why the folks in the know are looking at this going you know we saw this coming a long time ago it was not a surprise this has been building in this most recent episode for months it just happened to break into the headlines this past week but it should make everybody really nervous about keeping assets in the mainstream financial system but the thing is now the the fake can just print the money and fix the problem that's what just happened I mean they didn't do it for Lehman for some reason but they they did it this week or last week impaired we so I mean don't we know the solution already I mean we already have a solution I mean and then it dilutes the dollar but I don't know I I'm of the of the school of thought that it's things aren't going to fall apart they'll just keep doing that over and over again well if I can do that I'll put it over again and as long as there's unencumbered balance sheet to support the continued issuance of debt which is really what's happening every time the Fed pumps in reserves they have fancy words for it right but what it really is is it's diluting all of US dollar holders by issuing more dollars and as we all know a dollar is a debt based instrument so we're just issuing more debt that's all that's all that's happening at some point we won't be able to continue to do that but I will say one other thing don't don't don't assume that just because this is happening that the dollars gonna collapse tomorrow there's gonna be one hell of a head-fake dollar rally and the reason is that all these dollars that have been issued in the repo market primarily a lot of them have been issued overseas so there's at least five trillion dollars that no one really knows how much was issued overseas outside of the direct regulation by the Fed and so what the if you think about what that is if $1 issued overseas it's actually two US dollar and part of what's happening now because there's not very very good funding available in the market is that people are scrambling to buy dollars so you're seeing what I call a head-fake rally where people are I ain't poplars because they they desperately need them and they're willing to pay as much as ten percent overnight funding to buy dollars that's that that's that's how desperate they are for dollars so you're gonna see a hell of a dollar rally but that does not mean that people who dollar collapsing are wrong it's just the temporary short-term reaction to what's really going on which is that there's a gigantic US dollar short position out there that when this all comes home to roost the dollars gonna spike and it's dollar hike that potentially brings brings about the end of the dollar so I know that's a weird thing that that's exactly what I think is how it's going to play out okay that's an interesting story $1 flight can bring about the end of the dollar and you I mean you got a little staticky there that one second I want to clarify one thing you said outside the US the doctor the dollar is worth more you're saying you said I got a little punchy yes our staff Excel Wi-Fi we Adam and I tried this tried to fix this beforehand and we just decided to tape anyway sorry about that but the yeah so it's not that it's outside the US that it's worth more per say it it's a it dollars outside of the US you know over the last 30 years and they lost control of how many of those dollar claims are outstanding overseas and they don't even have a good feel for how many there are there have been people who've tried to defy this the the Bank for International Settlements quantifying it in 2009 so a year after the financial crisis and just the European banks alone they estimated the at the high end of the range of their estimates was six and a half trillion and that's the European banks alone and so China obviously we know through global trade that China has accumulated an enormous dollar short position as well in its fend ya house measure it all right no no no I just stopped my video you might want to stop the video on your side that might help with the bandwidth there's that little option down there it says stop video maybe that'll uh yeah okay yeah sorry it's crappy let's see I'll stop video oh there we go don't worry us you know that that'll help that that that is great that is great okay well we'll keep on moving on here sorry I wish there something better we could do no no it's fine people have definitely gotten all the information has definitely come through now the next thing I want to talk about is uh that the the situation with that how it started this week yeah well I just saw back to announce that the first Bitcoin futures contract traded on Sunday night so it is it is officially operational it's going to be interesting to see where this goes and obviously as I've said publicly before there are it's just it's just like I talked about Facebook Libre there are definitely pros and definitely cons to back being in this market but by the way you bring up Facebook Libre just reminded me of something that I meant to ask you about the all the laws in uh in Wyoming then you're it someone asked this last time therefore all crypto currencies it's not just Bitcoin specific it's it's all primes definitely yes therefore everybody you know a state can't pick winners and losers and obviously when you're trying to greenlight things which is really what we're doing we're not trying to restrict things right if we tried to define things too narrowly we'd be restricting them what we're trying to do is broaden out and take away the obstacles to this industry developing and and it's not appropriate for lawmakers to pick and choose winners so what we've tried to do is greenlight all of this new technology to the best extent possible and so far I think we've done it some folks you know the Bitcoin maximalist would be saying why would you bother but you know it's it's let's let the market play a let's not have any regulation determine what who's the winner I like that I like that calm not picking winners and losers what a sting what a state that Wyoming is men live free all right now we're talking about hearings this week well now this is we're taping this on Monday I just want to point that out to everyone so but they're supposed to be hi hearings this week the US Senate is just to have some more hearings have you heard about that cryptocurrency related hearings from laia yeah yeah yeah they're there are more here's and you know everybody it's it's like with Facebook they woke everybody up to the reality that there's now competition in money which is a wonderful thing and I know we can have a lot of other money should be corporate obviously the government's think money should be government and the rest of us think money should be free but there is Facebook's taking a lot of the the shade that I think was inevitably coming all of our way and you know they're they're they're out front and taken a lot of hits but we would eventually have taken those hits anyway so I'm just as happy to have them be the ones that take the hits but sudden now to your point there are hearings happening right and left on Congress about this and and also in Europe as well yeah it's it's they're trying to have their say these these bureaucrats but in the law in the end of the day they won't be able to stop it so uh now oh yeah uh that's uh I was gonna ask you more about the Wyoming uh situation uh well yeah it's so people are wondering what what's the what is the next step what where you're gonna go from here you can have an event next year again I mean you've obviously you've relocated there so are you good to try to yeah you talking about the computer science department at the University I mean this improving that I mean that alone could attract the youth you were talking about the youth before too so I mean that's where it's that's where it definitely starts that I mean when we're talking about the future I see it because there's some people that aren't useful they care about Wyoming they don't want to touch it or whatever but the world is a change the world is the youthful think differently I think oh yeah that it was amazing we had high school students also from other parts of Wyoming and and you know we had with somebody who was clearly a retiree so we had the age range of people participating and competing at the hackathon was very wide it was really amazing I think the youngest person was twelve so so yeah I think for Wyoming you know more come more and more companies are coming here the University of Wyoming now this is they've been teaching blockchain in their distributed systems class for three and a half years so you know while he's not an Ivy League university it's not MIT or Caltech but it's right up there in terms of in terms of the quality of education right and I went to my undergraduate from from there my dad was a professor of Electrical Engineering for 40 years it that's what it punches well above its weight class so to speak in in this and it's and it's you know they're they're gonna be a lot of people hanging around here I think I watched the head of a computer science department spend time with both Jesse Powell and Charles Hoskinson and you know there's gonna be some serious research here that that will be coming out of it and it's all distributed systems based it's it's the hard core distributed systems niche within computer science that is frankly where all the blockchain activity is taking place yeah it would be great if they if a pipeline could be created from the universe because there are companies out there all over the world that are looking for a blockchain people pick one kid whatever you want to call it but if I mean University anywhere it could step up and say we're the ones we're the ones that gonna get you know create this pipeline of people and we're going to be the best of the best and why not do it in in Wyoming since they are really taking the lead in in terms of state publicity being tied around Bitcoin and blockchain so well you know it's interesting because one of the students who came yeah yeah what ever since he came from shoshone last year was a senior and so he's now in Community College he's starting at Community College and I kind of question you know a guy like that who was being deterred by engineers from Slovakia after that a hackathon was over a key you know does it need a college degree it's it's interesting because I feel very torn I think it's great that the university is doing all these things and I also look at what's happening and think you know if the university is making some of these things available to students that are that are you know just high school aged or junior high age some of them won't end up spending time going to college some of them will just go straight into this industry I think that's a wonderful thing you don't I I I'm very well educated myself spent a fortune on college and grand to graduate degrees but I really am wondering whether this next generation especially given the cost of college is worth it now I will say Wyoming is very it's the best funded land-grant University in the country it's a public school so if you come out here and you get Wyoming residency there is the tuition cost is almost zero so they're there because the scholarship programs are so great so I you know this is I'm partisan I admit because I grew up here and my dad was a professor here but there's something really special here I love that real Carthon Oh who's a be cash developer yes I know it might be heresy for me to be talking about be cash on your show but he's an amazing person he's a he's such a great developer he doesn't get into the scrum between the two you know no Bitcoin it'd be cash we had both him and trace mayor at the Y a hackathon but he said something real interesting he said that there is something really special happening at the University of Wyoming precisely this is the fact that it's attracting all the developers to come in once a year and and it's not now just once a year with the hackathon it's also now probably some ongoing relationships with some of the hardcore academically focused projects out there very good I'm glad to hear there's actually a be a real life in the flesh be cash developer there some people didn't think they actually existed so that that is a positive but I am I I am glad that things are we're gonna look back on this show one day I hope in the next Golden Age decade in the 2020s and we'll be like Oh remember when people weren't moving to Wyoming yet in before the big influx of newbies and before they built those blockchain cities and big clean cities who knows I mean I'm just glad what I'm glad one of the 50 states is definitely stepping it up and then I've got a guest you can explain it to everyone and put it in interns and I can understand alright so it is Friday we are getting toward the the show here I want to give you the floor to just say anything that was left out any new stories that you want to share anything anything out there a couple things I didn't mention a sandcastle challenge we ended the whole Stampede week with the sandcastle challenge which is a startup competition and there were eight teams two of which were the top y/o hackathon teams and the other six came in and the open index protocol which is if some of your your listeners know has been working with medici ventures which is part of overstock they're doing the land title records on the open index protocol that team won so shout out to that team it was really fun to watch that startup competition and they are now being funneled into a group that will compete to go to Dubai 2020 which is the world's fair and they chose to come to Wyoming because of the support just to support what we've been doing here so shout out to that sandcastle event they're going to come back again next year as well so everybody get you know put it on your calendar it'll probably be the second or third week of September make a mental earmark come on out to Wyoming and experience this lastly I'll say October 1st is when the special-purpose depository institution applications open I don't know how many companies will announce that they are applying for these licenses but these licenses I think are game-changers for this industry as well because it gives us an on and off ramp in this industry where we control our own destiny now it's it's Fiat so it still has to go through the Fed so we you know controlling just means that some bank isn't going to shut us off unless it's the Fed itself that shuts us off right but we have control because we this industry goes directly to the Fed now with these with these that are applying I'm not gonna out anybody who's applying but I think you're gonna be amazed at what comes out in the next you know few months I don't know that everybody will announce first but that's right around the corner I know there are five in the first group but intend to apply they've already already been doing work with the Wyoming banking division and there's a second group behind them and it's a who's who of this industry so you know let's let's let's hope that the Fed doesn't block us everything we've been all the indications so far are that they're gonna work with these applications they're basically letting Wyoming having a rope to hang ourselves so to speak and be the proving ground and if things go well in Wyoming then then this will extend to other FDIC insured banks at some point in the next few years but Wyoming's gonna be the place to be this is where the Fiat on and off ramps are going to come from and I think even the purists in this industry are going to be happy that we did this insider information right there I like that you're gonna be on the Mount Rushmore of Bitcoin in Wyoming we may make that I mean you are like the founding father mother yes you come over there you are doing great great stuff I did want to at your event did any government uh obviously there were local government officials there did anyone come from the federal level any or can you say nope okay no no no yeah sure I can say yeah we we always invite the federal officials the sec defend the FDIC the CFTC they're always invited to these meetings they're all by the way they're open for meetings it's government so anybody can show up and and occasionally they actually have had people come out but nobody came this time they're all they're all in contact though it's it's not like Wyoming is going rogue the wimey banking division has done an amazing job of working with the feds and that's how we know that the feds are gonna allow this you know that it's a it's almost the beta test for the us

is let's see what happens in Wyoming and if this goes well which you know let's make sure everybody in the industry knows this has to go well let's let's help these institutions so that we can keep this this this this this faucet opened to the traditional Fiat plumbing system whether we like it or not that's how I think adoption gets accelerated and if we lose access to the Fiat system you know that's one of the attack vectors that would slow down acceleration of the of adoption in this industry so we want this to go well and it lets everybody you know help these companies out as much as we can all right they're laying the groundwork that was a very positive way to end the show let's root root root for Wyoming and yes I we all hope it goes swimmingly and great and perfect all right everybody that was Catelyn long I hope you've learned a lot because she brings the real info here the insider information that you get only here after this weekend Vic which are at the bitcoinmeister channel remember every Friday that we do this week in Bitcoin and then I do a new show every single day Saturday is beyond Bitcoin show so everybody thanks a lot Thank You Caitlin long for being on i'm adam meister the bitcoinmeister the disrupt meister remember to subscribe this channel like this video share this video check out the links below pound that like button bang that Bell button shabbat shalom i will see a guy soon thank you bye bye