Bitcoin on the BBC | Britcoiners by CoinCorner #119

Transcript

like if this is 24-hour news it's just like all right who can comment on this or so pull us on P me on I'll be available 24/7 to the BBC to [Music] anytime we're back where' you go I haven't got it I thought about it I thought I couldn't be us going upstairs so I'm just going to conit the table instead I think con laid the law down with it by S he did threaten he sent out quite a threatening message on Friday saying my G where is it they use it Friday I did Panic a little bit um but yeah we got the hand instead which I think is a bit more threatening than a hammer well see how we go plastic Hammer okay yep welcome back episode 199 no 119 uh yep remember to like And subscribe as usual please uh Bitcoin live price what at 72 have dipped a bit oh we were at 72 about 5 minutes ago weren't we 71666 evil 54 another 55 go up top Mikey up top top change that to gvp 556 56 nice new alltime high we're at currently so very doesn't feel like other alltime highs doesn't it feels very is it less less euphoric no it feels like other previous it feels like what it does when we normally hit the previous alltime High I think that's why I think we'll we'll feel like alltime high when we pump and hit something that's more expensive for cycle what 100 well no it's we cannot give it Financial advice at what point are we supposed to feel euphoric about the price I think people you will know when you've been in Bitcoin as long you never feel euphoric yeah feel I feel like it's not pricing anymore no well when we hit th for the first time it was exciting when we hit th000 for the second time time nobody cared same with 20,000 nobody really cared and then it takes that time to come back around remember that time we hit 20,000 and this guy said he'd take us all out to dinner oh never specific restaurant that's now closed I can't it's noted I closed yeah it's they were put putting the plates on Facebook Marketplace that's closed yeah I thought went pass that the other day it was still open so I was I was desperately trying to book for the guy I know I promised it and they gone you outlasted you paying back your your bet outlasted the actual restaurant itself dragging that out yeah I I feel like I win but no I think you'll you'll feel euphoric when you feel it and I think that'll be I don't think D was ever you can't ever F your whole life better numbers to be get more excited about when it comes to bitcoin like it's not wallet addresses but it's like more adoption numbers cuz this is MH right for me it's just the number but I'm not in it for numbers go UPS none of us are in it for numbers go up no although it's the it's the nice back side of it accounting point of view oh sure it makes it makes things you makes things it's the driving force for the mainstream for the adoption so every CLE dri ad but I wish we could agree on a number that's actually actually you know like all our business kpis are much more refined than just this and this is just to me the probably the although it's the nice thing to look at it's the wrong thing to look at but I don't know what I would be happy about that damper yeah every time I look at the number I'm just like it's not what I'm in Bitcoin for should we go back to Dollars should I go back to agenda I can't uh gra you can't I can't deal with that well my M say like why you always quoting dollar that's the standard yeah we do and our industry does yeah yeah we always like right back to the agenda well if you had the gavl there that would be we would be know what you're on right um Bitcoin feature on the BBC News hilarious um can you put can you put change of coffee in the agenda coffee needs to change back physical on your face someone has bought a coin Corner bought the wrong coffee right on a Monday morning that's my first coffee of the day oh I'm reliant on that and it tastes awful I've moved to tea because of that anyway see see the agenda you want that on the agenda coffee mystery find out who it was um there a 2010 wallet moved a lot of Bitcoin say didn't take you one why was she surprised by the word Bitcoin because I was trying surprising word of that whole headline right no cuz I was trying to in my head flip it it says Millions here and I just yeah 2010 wallet moving Bitcoin to coin base a lot of it um micro strategy announcement uh C of binance us calling uh says it's radioactive to Banks what is we'll come I'll come back to it next Plus carry on Headline News uh Steve wnc nailing the difference between Bitcoin and crypto two years ago I'm going tell back why he wrong all calling Adam out I'm not really love ad technically he's probably going to be it's a technicality but we'll go uh London Stock Exchange to accept applications for the Bitcoin etn admission tracking right you want to start at the top was this on Prime Time BBC News or when was do anyone know when it a the weekend I think it was it only went up on a was it 5 days ago um so it was was it Friday when we hit the alltime high again was it um so it kind of numbers to us of the weekend it got pushed out a bit by a few people um but yeah it was BBC News anyone listening here that is not from the UK BBC News is probably the but you think it was on BBC News 24 not probably I don't news normally wouldn't do headlines like this it would normally say wouldn't it if it's like news loc and it has the different logo okay so so they had a news article on the BBC News what was your problem with it dnie so this is nearly a seven minute segment yeah you know my problem you've watched it this morning when I sent it around think they Bob on it was embarrassing it was embarrassing uh it's frustrating that mainstream media is pushing this out interviewing two different people on this which will come and show in a second that I'd say no offense to him but full offense to him they was terrible they they don't know anything about to the BC it the BBC maybe they touched upon one side of an argument they tried to cuz the correspondent in the New York was meant to be a positive spin as to why the price has gone and the other dude who was which is from London who's wrote a Bitcoin book or crypto book attacking blockchain in crypto his was the negative side buying today which I'm going to I feel like I need to to read it just see what he's got in it but helpful his arguments were just embarrassing like it was sweeping statements everywhere there was no actual information there was no substance to either of them even on the positive one she didn't actually say anything can you scroll forward to the news the first business correspondent so they had they had you don't yeah you don't have so we'll play the clip of this and people hopefully be able to hear this and then we'll just have a shout on it General has been embroiled in controversy over fails trading platforms um let's bring in Michelle flurry who's our North America business correspondent uh and who can explain to us what is behind this recent surge in bit coin yeah I mean after 18 months in which we've seen uh bankruptcies we've seen court cases uh that have really LED people to actually question the foundations of this whole entire ecosystem suddenly here we are again talking about Bitcoin tag hitting new record highs uh and it's the continuation of a rally that's been sort of building now for a couple of months I think there's a couple of factors behind it one is the mainstreaming if you like of Bitcoin uh you may recall earlier this year we had Regulators here in the United States open um investing opportunities attached to cryptocurrencies um to more investors and since then funds have been pouring into that pause it then we just pause pause it Mike we'll pause as well why don't you want to say ETF she doesn't she doesn't know Ed why don't she want to say that she doesn't know what it is yeah so but there's the a law has changed that's allowed which is just like no just approved ETFs like and nine Bitcoin you could have even explained nine Bitcoin ETFs black CRS in both contl like you they could have put some substance behind any of it I also ha she supposed to be the positive one yeah start off very negative no she's I'm not sure she's supposed to be the POS she's the business correspondent that's she's the neutrally one the news fact the facts behind why the price has gone to where it was is what BC supposed to be neutral right not not side of either why bring your negative guy on then if it's meant to be Neal the argument would be if they brought on some more positive on the afterwards was this clipped in such a way where the positive guys you should have and just have a have a conversation cuz that everything can be a debate put me on a debate with that guy just live on BBC why didn't contact him we are going to we're going to put it it needs to be on mainstream debate so doesn't have to be a debate it's just a quick conversation but you can at least highlight you'll come to it'll come to in a minute and we'll pause it as well and break and the things he's saying it's like I would just want to ask him can you share with me where you've got that data and that information from because he's just making stuff up fact it's just made up stuff literally made up stuff and we can we've got facts and data to prove wrong my problem with her is that she also mentions that the foundations of Bitcoin have been shaken by bankruptcies and and fraud like that's like it's Unique to the Bitcoin business keeps going crypto as well though they've saying about the laws have changed things so people can invest in crypto it's like no they can invest in Bitcoin by Bitcoin ETF if they had a a banking product on there would they mention the number of banks that have gone under in the last year they wouldn't no which about just starting to again now is yeah so you can see oh we've had record-breaking of banking liquidations and foreclosures and and whatnot they would never have mentioned it but she's coming as the that's bitcoin's Stories the mainstream Stories the fact that was still FTX yeah but she's focused on the price and the sentiment from mainstream being shaky Foundation thinking the perception of Bitcoin as shaky foundations because of the price and the collapses it's businesses that collapsed around Bitcoin not Bitcoin itself the price of Bitcoin went down but the foundation and fundamentals behind Bitcoin are still just as stronger if not stronger than ever so yeah but it's again it's just the lack of the people they're bringing on as theoretical experts I don't I know you someone was saying this morning like are theyt they they haven't called her an expert she is their literally business correspondent so they've got someone to be a correspondent you got to be perceived as some like this is 24-hour news it's just like all right who can comment on this oh so pull on P me on I'll be available 24/7 to the BBC to talk about anytime snip up this clip and send it to S forc I will be available 24/7 any day of the year available to talk about Bitcoin on the BBC for them to help give them actual facts and information okay right happy to fine because how have they found nobody in our industry and they' found her because they have people have to be vetted that's a very easy she's a BBC correspondent who can talk about this in the BBC I can put my hand up right quick you're running 10 yeah might perceive to be crazy there's people around the industry that will be available 2047 but they're putting a BBC correspondent on that has no idea Danny Scott I don't get him on and never sh him up but why wouldn't you bring experts from the industry into it why wouldn't do that they they no they didn't they thought they did without this is my point you've never WR you've never written a book about Bitcoin don't need to write a book about I've run they've got a guy WR a book I've run and actually operated in industry I've actually watched the walking industry for 10 years this guy just talks basically barely the talk about attacking an industry that has no expertise do these news outlets ever reach out to you uh they have in the past yes and what have you said to them we've had we've I mean three documentaries have we done with BBC that never add because we were too positive about Bitcoin and they wanted negative and headline stories about bankruptcies and C is that why they never add seriously yeah one of them was um which but then you don't get yeah but what about other media Outlets other than the BBC um because you think actually as a CEO of a longest running exchange or one of them yeah I'd expect some people to reach out for you for your opinion yeah we do from news outlets like as in online Publications like you're not necessarily mainstream UK but more like you're independent and I suppose that bit more freedom of speech but you can't get angry and you know at the BBC for not inviting you on every time I no not invite I don't care about inviting me on invi anyone on but just anyone in the industry that knows what they're talking about the lack of knowledge even Brian invite Brian on he'd know more than them at least Jesus I mean no offense to her as well it's not her position it's not her role to and expertise to know that but don't bring her on to tell the whole UK population about Bitcoin go on to mention the Haring this just as bad to report that as much as as sort of you know huge figures have been raised so that has kind of definitely increased inreased um things on the demand side on the supply side there is this process called the harving it's part of the Bitcoin protocol that only a certain number of Bitcoin are ever issued and periodically once every four years the kind of reward given to bitcoin miners uh for the number of of Bitcoins mined actually decreases um and there is speculation that the next Haring will occur in May 2024 about four years to the date of the last one so that may also have an impact on what investors think the supply will be and all of this I think you can sort of safely say is leading to that that sort of craze for laser eyes which is the meme that cryptocurrency fanss use when they're feeling optimistic about Bitcoin yeah PA it there Bitcoin so what speculation speculation in may not speculation happening no no she was speculation because then she was saying about the what was the words after that she used speculation after the foure cycle something like that that happen May that no not necessarily that happened in May that speculation of what the supplyer will go to it's easy it goes in half says in the name it's called the harving however she it's the the technical detail like the date isn't set in stone so you can speculate on the date 40 days away is it's not be in May though it's not going to be in May for one yeah wish you Googled that and you could have just Googled it but also you know and you could say it's in 40 days it's going to half it means 6.25 Bitcoins is going to become no 6 what we at at the minute oh 6.2 6.25 no we're not we're I've lost track of now what we're at are how can the BBC get this guy 3ward I found think what it was going down to it's 3.125 um 6.25 so we're going to 3.125 so even just saying that and explaining like the the basics of their numbers helps people understand what you're talking about you're just saying Harin what does that even mean to anyone no she did see explain this basically the supply and demand play was highlighted by her but it was still just up in the air like generic she didn't really you know give numbers facts give a bit of a smirk that it's all oh it's speculative it might not happen and they're speculating on what the har what the the rewards going to come to come down to it's like no it's not speculation on that it's going to it's like it's factual it's built in code um and again I'm I'm ranting her cuz I'm also building myself up for the next guy yeah cuz the whole the whole I think she was pretty fair really I think as it I'm not disgusted by what she said in terms of only bit was dragging in bankruptcies and I suppose you just hope you just hope when Bitcoin gets talked about on mainstream news that the person talking about it has a decent level of knowledge maybe our expectations are higher than what reality is there probably better people to do it than her but and there was no facts of anything there was no like you know give us something okay it's going from 6.25 to 3.125 the Bitcoin ETFs and there's nine ETFs now that you can buy like via Black Rock there was you fit all that in in the same time frame it was like she just but you've got to think of if if you're interested in the numbers you're not watching BBC News I'm not saying no but the numbers help explain to people what that actually means and saying about Black Rock and Franklin templ associating Bitcoin then necessarily with them institutions that people maybe understand and understand what that means it's not CNBC it's not Bloomberg it's BBC News explain it correctly it's just high level it makes me feel like I mean z was talking about this morning it makes me feel like anything I watching the news these days I just don't believe a word anyone says even experts coming on to these because that's what there are experts in the in our industry apparently of them two on here now it's just so bad I just can't believe anything media puts out with it it's frustrating right and if they don't have the experts to talk about it why talk about it at all just don't Martin Lewis I don't I'm not an expert in this but well here's yeah here's a seven minute sorry I'm picking on my L here I don't mean to me but there's also a different level of exper I'm trying to move on without M but so you can't just talk about it until you hit a level of expertise you couldn't talk about these two in any full of expert in our industry F impact at all no like bring come on the next guy bring on the next guy it'll be uh it's about fast for it a minute David of the book Attack of the 50 Foot blockchain scams drugs Crooks and cryptography uh based on that title David here go you're not a fan of Bitcoin or crypto um what do you make of today's developments so it's been really interesting um there's a real lack of retail dollars coming in Mom and Dad dollar how does he know that how does he know that like we would know that he does not know that El I disagree with him I disagree with him as well because what we've seen so far it's now starting to come in um and it's coming in heavily from current customer base maybe not necessarily new customers but it's new Fiat money coming but propor maybe he's thought talking proportionately um most of the new inflow volumized has been via the ETS which which would be I agree with yeah it has proportionally but there's still new money coming in from retail well let's see if he goes on we know that sense he does okay M and Dad dollars they're the engine of any economic bubble naive investors what we' seen is a lot of odd stuff happening in the Bitcoin Market because this is a completely unregulated Market by the way pause the lies again lies again completely unregulated Market we squeezed so heavily we've been but also when he wrote his book it you know his book's a few years old what's the book got to do with it we're on live telly from last Friday talking about Bitcoin maybe you need someone that's you know got a book out he's done his research for a book and his book might just be quite a few years old what's that got do with him being on a say what he's saying all argument is this you cannot defend this guy I know you're trying to come out an argument with me here no no no way you're on my side here you know you are well that yeah that last sentence was ridiculous every single sentence of his is ridiculous okay those headphones are ridiculous as well the um price Discovery doesn't happen in the US it happens in offshore casinos such as binance doesn't happen work in the US it happens on offshore casinos as binance but actually the price discovered right now is coinbase because of the ETFs so that is purely and that is fairly factual because we can see that every single day in the volume charts at coinbase as the ETFs open and ETFs close you can see that volume in The Debs changing there will be some price Discovery there is outside of hours it's a big exchange outside of hours we've been fairly stable usually 2 a.m. when which as you've highlighted recently actually the China Asian markets opening you see movement and then usually 8:00 a.m. to 9:00 a.m. UK time we see some sort of movement which we did this morning again and you see it in certain places um but again it's but you do see an awful lot of movement when the American Market opens as well you do and he specifically said you don't he's saying us is not the price discover on which right now that is the core price Discovery it's coming from the ETFs on coinbase because they're purchasing through there um I might want to see the his data on that though he doesn't have this is the point he comes with he must have he's got he's this guy's got data he's going to bring the data out in a minute you don't write a book do you reckon this gu the 54 blockchain without having the data that's true good point let's see this data such as binance which is literally a criminally convicted conspiracy they're currently under A4 billion fine and severe restrictions um so it's probably the only thing I agree with in some respects although the way he worded it is Extreme but that's a binance the binance M and binance being under investigation Etc um which we argue that that one is there you go what's happening that's binance there bance nothing go here is bringing it around so if you have feeling the crypto industry is a bit of a dodgy gamble that would be a correct feeling because it really is a very minor thing in terms of economics um there's a lot of odd things happening with the price when you see the price jump three ,000 in the middle of the night 2 am. New York time that won't be ETFs which trade during stock market hours um there's a lot of questionable what's 2 am New York time what time's that in Asia when other markets are opening that's the thing that they still doesn't seem don't seem to get that Bitcoin trade is 247 365 so and markets are constantly opening and shorting throughout every day if this guy understands time zone clearly doesn't oh he's he is talking about New York you so that's 3:00 well it's 3:00 in South Korea p.m. yeah some markets in Asia will be shut and opening depending on where you are though yeah but I think he's he's basing he's like there's an old Jordan Peterson does it or it might even be Ben Shapiro they're like if you fundamentally get a nontruth in there and argue a nontruth so that fundamentally the market is M huge movements when the American Market opens the 2 this 2 a.m. is almost like a nontruth I don't believe that it's moving as much in that time I'd like to actually look at that so you'd have to look at his you'd have to look at his data so if you but instead of popping up these nice videos you'd think they'd pop up the data on the right there as he's talking about it yeah because they don't have any data to pop up just put generic pictures I mean at one point they showing eth Futures with trading Bitcoin ATMs here as well it's like what anything he's talking about the post box next to it it is very difficult when people don't show the data to like justify but he has nothing to justify as well at the 2 a.m. cuz the 5 hours ahead of us are the New York yeah but be 7 necessarily happening no it doesn't that's why it's just 8:00 a.m. 9 we're seeing it UK time as UK markets open we do see even sometimes so maybe that also correlates in some way yeah I don't know but he's justifying an argument with a you know with a falsehood really which always annoys me especially if you don't show go Sor questionable stable coins which may or may not be fully backed being issued and pumped into the markets okay so and also all the exchanges last week shut down withdrawals simultaneous that this is the best this is my favorite oh gentlemen we shut down our withdrawals last week simultaneously simultaneous all all of the major exchanges simultaneously shut down withdraws not a single one shut down with RWS as far as I'm aware not a single one going be very hard to defend the guy on that one didn't happen coinbase went down for trading purposes and their system had problems I still don't think they shut down withdrawals as as far as I'm aware it was just the the issue of the platform buying and selling and no other exchange went down and had issues that's yeah that's outrageous it any comments well as as a as an exchange who were open you know all this time period and shut down any with RWS we can categorically say that that's a lie as probably one of the biggest longest running in Great Britain Europe Danny did we shut down withdrawals no the guy's lying what's this guy's name David so no no he's not a David he's a Daniel no he's gonna be a David he's a Darren I feel like not in the description I looked at his book we'll have to find him on I'm G still buy his book we can come back to that I guess how about his book sales go through the roof yeah why BBC shill in a book yeah that was odd as well oh he's a David he's a David David Gerard typical davs go then let's watch the rest of it and then you got a lot other agenda points to get through this this is taken this is this is good I'm enjoying this we should do this we should do this this should be reaction like we have to do a lot of this there you go there's a again missed a thumbnail at the moment the best faces Dave guys pull some faces including large ones like it's fair to say it's fair to say David you you you smell a rat and you're suspicious um but you talk about Investors being is a quilted of red flags fair enough you talk about Investors being naive I'm sure there's a lot of investors out there feel pretty clever at the gains that they've made money is pouring into these ETFs at a rate of around $2 billion uh a week and it does stand to reason that the opening up uh manner of trading these exchang traded funds will trigger a a surge in in in prices because you just open yourself up to a whole new svee of investors who now see it as a safer investment even not withstanding what others say about Bitcoin about that has no intrinsic value but opening up to exchange traded funds does kind of give it a a badge of of of respectability it does but it's not clear that fresh dollars are actually coming in um it seems to be dollars moving for other parts of the ecosystem for example um sell-offs of the Bitcoin miners or other companies that are tangential the Bitcoin moving that money into ETFs what the [ __ ] does what you mean so I we're in an ecosystem right now not an ecosystem I get him and get him and when he's talking about moving money and there's one option of yeah they've come out of gray scale and gone into like the black Rockies you have something in that c but that also has like a 30-day cool down or something so there's cool down periods to prevent people going in and out of ETFs um however Bitcoin miners Bitcoin M where's that come from because he's he's talking about like Industries running side by side so you see an ETF pump in price you would also see the like the cost of Spades going up if your mining but he's saying money's coming would also get money no but he's saying money's coming from the miners into the how does that make any sense that just doesn't make any sense said there's no fresh dollars coming into the about side bys side Industries aren't seeing the same so what he what he'd be saying is people are selling the shares in the mining companies and putting that into the ETFs but the mining companies are going up in value so nobody's selling the shares in them because the price is pumping so whole logic to that is there's also no facts backing up yeah go look at again that fundamentally might be the issue that this guy has no clue and has the facts that's that's why he's referencing I think is the fact that I if you said to them that share prices in miners or the value of miners are going up that's what he's missing because he's saying it is he's saying money's coming out of there and going into the ETS like where's that ever come from no it's coming from Pension funds and things like that where pil I mean yeah his opening statement there was there's no fresh dollars coming in but black rock have literally announced oh we can now invest this this fund into thish it's all it's pretty much all fresh dollars the ones that are not is coming out of grayscale but they're actually exiting their positions for different reasons was it one of the bitwise I put out a tweet actually uh saying about they've literally the opposite of this so they've tweeted that saying from their fund and all the different categories of people that are coming into the bitwise ETF and they are basically saying it's like all fresh stuff it's all new stuff they broken categories down for people yeah I I don't really understand the argument actually that it's not fresh dollars I get it on the grayscale bit where people the outflow and then yeah yeah running back into back but we still have no no evidence of that if that was the perfect net and there was no fresh dollars the price wouldn't be moving there no other Market Dynamic on it we started off at what 30 billion was it is I know inflows are about 15 billion now total since it since it launched and that's new fresh dollars coming in yeah that's even with grayscale out knitting it off like say if there's no fresh dollars the price wouldn't be running as high as it is no yeah so he's got a few points that he's wrong on fundamentally there's been one on which was bance being by the come on we got a minute left to this video we abs absolutely not seeing fresh dollars coming in seeing happen at all the retail trade in Bitcoin is it's surprisingly dead for such large how does he know that information from inside exchanges like is he running an exchange I is this is ridiculous there's 100% our signups that increased I'm going to stop emailing him our data he's not listening it's not a DAT our signups have increased what is it 75% the other week 100% the week after so like we are seeing an increase now in in signups which is usually at the beginning of a cycle um and volumes have have been massive to be honest this year in comparison to well this is what we expect at the beginning of a new cycle um and it might not necessarily as well some of it might not be there is new customers coming in but not bll Peak bow numbers should we say um but there are a lot of old customers piling in with more cash I think at the minute is the best way to describe we looked at the Google Trends last week in terms of new guys it's not as it% so kind of he's got a bit of a points I mean he said retail is dead you did not dead yeah but he's trying to pump up the new but we have to get one more gigs our alltime highest month in December mhm in volume our customer base is heavily retail a lot of B2B as well um but it's still B2B retailing bit strong not institutional uh January February and March so far have all been incredibly big months um in terms of volume and trading and you're going to email a guy I'm just put out on Twitter and we'll tag him and see see if he reacts I can email I don't know his email address but if anyone knows it I don't care about him I want to just it's the BBC I hope he does a reaction video to this video that would be amazing yeah that would be good that would be amazing like that but it's the BBC that I feel like needs to be communicated with not this guy this guy's just yeah that's supposed to be like one of the gold standard of like journalism and unbiased kind of reporting okay they've just gone heavy negative a guy that just doesn't lie the industry for whatever reason but are we 100% sure that one there wasn't another guy they got on after this and the people on Twitter just clipping up the bad straight from their Channel I watched the full thing of the we weekend of this and it was like yeah they're 15.7 million sub was like a parody put this out yeah with a 15.7 million subscribers oh my God that's even wor you only try to defend this cuz you love the BBC but like said you know Bitcoin Twitter like bashing BBC but they put this out as the whole video yeah I didn't I saw this on one somebody's Twitter account but I'd already seen da you can't argue you really can't Mikey gra numbers there David who share your views about Bitcoin I mean the US Regulators the SEC had to be dragged Kicking and Screaming into actually approving these ETFs leg action force that move um do you think Regulators central banks should be shouting even louder about the risks they see uh with crypto in general ultimately if you're selling people you can get rich for free that's a very attractive product es whether it's got anything to it or not so at a certain point All The Regulators can do is say look this is trash take care okay um they can stop promoter because you can stop people from promoting things that are a msold investment But ultimately if I want to set my money on fire I can probably do so we can all do that David Gerard um author cryptic or critic of crypto thank you very much for that enjoyed that no no just setting on that was a good sign off F from him to be going to get the call back Sig off dramatic as bur of fear isn't he so he's he's maybe is a bit C clickbait we've clicked it we've watched it we've clicked it up and we talk about on a podcast yeah but it's not accurate I bet he increases Book Sales from it it probably will probably BBC have shielded him well played them I think burn you buying his book is also like burning money basically saying David Gerard or whatever he's called it's outp you he has yeah correct we've got that guy that guy is beating you me I'm sorry that guy well isn't he right anything else to add to that hopefully not cuz we've talk don't buy his book yeah yeah or buy it set fire to it I tell you what my buy set fire we'll do a video that just looks that looks you hear that's what said okay I'm going to buy and read it I want to buy it and set fire to right let's not get into set fire a book the very bad very very bad message Fire Marshall Dave has issue with right okay we ready for the next next point it's going to be a bit of you already slammed your hand I I'm worried about you breaking this bloody desk I'm all done out now right I'm going to say the rest of the podcast is going to be very low energy compared that right uh 2010 wallet just moved 67 million Bitcoin to coin base the owner huddled from 30 cents to $65,000 F impressive but why why is he moving it now don't know what should we ask him about yeah I meanone yeah but you think if you've huddled this long like why not huddle a little bit more we don't know that he's uh necessarily selling it or doing anything with it how much is the fee do they say well he's lost he's I assume he sent a th000 Bitcoin and then that's what he received yeah yeah can't see the feel that then um I you know maybe he is selling some of it and maybe that's like some of OTC desk style pulling in some people are don't maybe yeah Legend I i' prefer to see the fees on that because it's just fees under Ming value okay let's move on right micro strategy uh just before this podcast announced that they had bought the 12,000 Bitcoins $800 million dollar worth they this is from their raise wasn't it last towards the end of last week mhm it's crazy they started off at 600 million then went 700 million then they actually by the end of it bought 821 million do worth yeah was yeah I mean 0.625% interest rate won't be good for his average he said he did say somewh his average on his announcement Mike the other one that one an average of yes 33,700 yeah that's his current average right yeah but but the average purchase that was 68 you'll be dragging that up that's what I'm saying but at the same time it's already $7,000 part of me would be like if I was doing it be like don't want to Dr the average up you're trying to you are doing it in your own I know I am I am but I suppose so you're saying you're not buying it at the moment no I I do buy every month I did sell the you have to sell but just part of me would be like ah my average it's going to go up but you've just you can't get around it bought $800 million worth a Bitcoin so I'm not sure you're going to be too bed no true and his average does look quite good now compared to the actual price it's over double so is this what you think is correlated to the price to increase over the last couple of days to hit the new alltime high I streamed yesterday and yeah it must have been buying yesterday and then this morning was it and it slowly yeah I should he always announces after doesn't he yeah are they still doing it through coinbase doing that don't know they don't really talk about it anymore $1,000 a second was it that they were buying through coinbase doing it by our API mad um well I'm not not sure I've not seen an update to that to be honest pretty sure if there were a UK company we could have had a bit of that action yes could yeah yeah we probably could have as well unfortunately you guys know you don't listen to the hand are you heard only the again it's easily ignored next right next uh CEO of binance us says it's Radio Active to Banks the SEC dealt a near mortal blow effectively choking the business well NE mortal blood I thought that who's this radio Chief Operating Officer oh cuz I thought they put in that regulator CEO guy I thought it's just a very strong language isn't it they did I think the point is this was like what we already spoke about when binance were going through the SEC C case stuff and we were saying that they're going to get choked and squeezed basically out and I I think I did I put a thing on saying in one the pods saying about maybe five years I think bance will be gone and they'll slowly die out I think I don't remember you saying that think did one of those things and this is like step one in theory this is the US binance US is pretty much going to be the first one I imagine to be squeezed they'll probably try and sell off everything it's a bit of a lash out isn't it if you were if you were in better relations you wouldn't be lashing out like that that doesn't them no fa harsh words then but if the SEC are going to basically squeeze him so no bank will touch him in the US then they can't PR anyway so they even going to have to push back and lash out or they're just going have to sell the assets of what they've got there yeah they said they after the SEC actions go up Mikey s but there's where one billion of assets fled the platform they to fire 200 people yeah where's the benefit Revenue imploded where the benefit of bance for saying that though well they're going to be hoping to push back on the SEC and then see it's unfair what the SEC are doing to them right now he's mean 200 jobs have just been lost in the US all that money's disappearing to Offshore who are they appealing to by saying such strong rhetoric what's their end game on that he's pushing back on regular by saying in a deposition but I don't know what for oh it's in the in the dep position okay oh ah but it will be being they're going to have to do something AR I do think it will be a case of yeah that's goes pop or they shut it down sell the assets they're going to have to do something they're not going to get like approval in any respect I don't think going forwards to to continue that this is just binance us right the binance what just regular binan is yeah but not open to us customers right but you think this this will have a when you say they won't be here in five years you're talking about binance us or binance general I'm talking about binance in general I think I think they're going to be if if they're here they're just going to be insignificant in the industry because they're just going to get squeezed so heavily so like the us at the minute squeezing we know the US has a reach around the world if binance are trying to get Bank in in different countries around the world the US have corresponding banks with a lot of that you not think they'll just change that we know they're already squeez we already know just Chang their rhetoric become which is what they've been doing more regulatory Savvy but that'll save him for the from five year Doom Gom prediction that's whether they play that out correctly so they sold the one arm off to Russia company the Russian exchange uh bance us I think they've obviously been looking to sell and I think they'll get rid of that um the other ones around the world in the different jurisdictions they'll probably look to just release as time goes they might still exist but in a lot smaller kind of scale they'll be insignificant is what I'm saying there yeah yeah in the ecosystem in the echosystem right okay um oh this going to set Danny off again Steve W act nailing the difference between Bitcoin and crypto two years ago I I watched this video and I what I didn't see anything about he might have said Bitcoin is different right at the end or something oh this is a two-y old video yeah I was like why is this a thing so well annoyingly like few people have tweeted oh R's doing hiso but Adam back had had responded to it saying was gets it and stuff like that so I just wanted to this is my sweeping you saying was doesn't get it we know doesn't get it Jes know know what that we know 100% was does not get it you don't come in and Bash was I will all credits him for doing what he did with apple thank that's all I want course Ste I used to like the guy um however he's no expert in cryptography and in and cryptocurrency he one of those guys is like a universal expert because he what he did for Apple people perceive him as that that's the problem the perception sotion is not a per it's he's a universal expert in all thing computer no he's not there's no such thing as that yeah I'm s because of what he's done for Apple yeah you know it no no you've got to surely put him on some sort of pedestal to say this guy's worth listening to have you read like Steve Jobs's book on Apple he actually did uh he didn't do a lot and cashed was all his Apple shares about four years in was it or something for S there's no there's no apple without Wass I agree I agree so then he did enough but he he did enough to get it off the ground back in the 70s was it he he was the founder of Home Computing wouldn't on mat we can agree on that don't don't anyway we're going off on a tangent here that's a wind was was on bitcoin um so and maybe gets it now I don't know don't know how up to date he is with everything have you reached out to him maybe G understands know I I can if you would like me to I don't think we'll get much of a useful response from him um he we know I know from a number of years ago I was thinking I've got videos of him not having a clue basically uh sounds creepy I know it does sound got videos I I can share the videos privately publicly um but yeah he clearly doesn't and he he's tried in the I mean he's done about three of them now I think hasn't he of Ico crypto projects that he did and I was nearly dragged into one of them and that was why I'm cleaning this up no doubt they're all quite successful now are they no oh they're all dead there's no such thing as I'm They're All Dead um when I say I knew got dragged into one I got asked to join I didn't get dragged into it I was never going to do anything like that um but you can see um his comments around it and what he was doing it was just he had no clue it was like he was in it for the money at that point and and personally I would say he was in it for the money now he has a incredibly good reputation and I think he's spoiled his reputation in some ways along the way Bitcoin Twitter four years ago is that now were absolutely abusing him and I think people have forgotten about that already now absolutely abusing him because he was doing all these icos and he had no clue about what he was talk about and he just he was all over the place um and then obviously years have passed and people forget no time is the biggest healer isn't he yeah so now I'm just kind of this is a sweet bringing it back up remember I'm not saying he doesn't now when do you forgive him then but let's not pretend for this is more about you my main point on this is let's not let's not put people on a pedestal let's like we're putting them on you're putting them on there the bloody pedest he founded Apple but that was 45 years ago whatever that was now it's a long time ago and times have changed technology changed and he's always going to be like credible from that perspective in some respects however now in an industry that he knows nothing about don't put him on a pedestal and think he's going to know what he's talking about like you should not put people on pedestals especially in this IND if Adam back is also saying what did that's why I'm saying he gets it yeah that's why I'm saying he's is that not enough for you gets it Bitcoin this what people have done with saor though I know saor does get it but no I agree put him on a pedestal yeah shouldn't put anyone on it like I mean Adam back's one of the first people to say that as well and he will say like you shouldn't make he like Slay Slay heroes or whatever he says say from his pedest just the Learning Cycle that was has gone through then so he's he's there now is he is Hein only still don't think he's there no as that well that was two years ago on that and he would finally cuz I that after he' been burnt on them icos so some say maybe he's getting there but I'm also very conscious that he is is like a I guess Media train now as well in some respect but is he's saying these things just to get the good crit like Association and the good yeah to be fair I watched that clip and it wasn't like it was more like talk calling out icos and Founders again which is r two years before that he that all failed so he moved on but then he's learned but he wasn't really banging the Bitcoin drum In that clip no yeah he didn't really explain why Bitcoin was better said it was the biggest one so it's safer bitcoin's the biggest one he doesn't get it maybe he does now and that's we need some updated sort of conversation with him from somewhere but I don't think he's said anything on it recent times um but yeah and also just for someone now you know turning around like that and just saying oh yeah bitcoin's way better it's the best crypto or whatever they wording they use still doesn't mean they get it they could just be echoing what they've heard elsewhere and putting that back out again repeating that because they know it's the popular thing to say it's like the Cycles we've been through where you had all the bankers saying oh blockchain's the the future and stuff because they didn't understand anything to do with blockchain how it worked they were just echoing what they've heard from yeah but somebody else because they need to look like they're the experts in the room andin different to different people isn't it it is so like we can't really say who gets it and who doesn't if they get it in their own way they just don't get it in the same way you get it that was very philosophical but I completely disagree with that still cuz they don't get it we all know it takes to actually get it um research like your own research and kind of you can't just get it shut right okay I get it that should have been banged ages ago sorry I was just letting that play out right last one uh and then we got de Dave I think uh London Stock Exchange to accept applications for Bitcoin etn admission I think I missed this uh 11th which is today today oh I've missed this plus the difference between ETF and etn exchange traded note is an etn I don't know what what it is very similar um the fund can the note has a limit I think is it um so the note will have like you tieing x amount and then it's buying and selling that for increase first paragraph Top Line Mikey that gives you some second paragraph exchange that're pretty much summarize sorry is this Bitcoin or eth it says the proposed crypto e it's it's both for both this one's Ethan what does it say I can't even see that the proposed crypto eth it just talks about eth which paragraph I cannot see that um left column number one oh down down down 1 a one down down oh my eyes are terrible but it does says in number c has Bitcoin Bitcoin or ethereum underlying for it's still for both yeah all right so it's very similar to an ETF on the stock exchange for Bitcoin or etherum who's who's put this sorry what is this I'm so confused though I think it was was it just Google get oh stock this out say please someone come and do this admission fact sheet right yeah that's it's literally coming from them saying please someone come and do it isn't they want some of the ETF piie sure start accepting admissions yeah so they just say they're open for business essentially um so we were actually looking at doing this why don't we reply um we were looking do this like four years ago though so revisiting that would be interesting um let's revisit how does this work with the UK stance on bitcoin and crypto is very anti isn't it um kind of muddly it's not consistent because this is a separate organization completely isn't it they still wouldn't let retail buy that in theory um but institutions could obviously then buy that which is what a lot of the ETFs are Mike go back to that other tab with the news article it was talking about custody should just see what it's saying C the L to F must primly be in Cold Storage well they do not elaborate got to say enough said isn't it to cool interesting to keep ey okay well has breaking news today cool okay we got a Dear Dave after our roll theme tune cheers what you going to mix up that pach skin going lay down fat fast drum bit he's laughing cuz I just you worth a his Lally it could be a Zimmer could be a z too yeah but you'll be disappointed with that I know you're a perfectionist right what's question okay it says uh for the do day of slot on britcoin is any new developments or features for users uh option to pull funds from the users Fe at balance when sending Bitcoin onchain or lightning Network were mentioned a while back uh like it I'm GNA let Dave answer I know that's not that's not on an immediate list of things we got to do uh but it could be go play the outro I mean oh actually I don't want to give away too much on because it could pull into suit other that we are releasing so how do you want me to give you a clue under the desk under the desk excuse me under the desk yeah well I don't want to say too much a barrier you can't write it on the notbook um no the so I actually mentioned this in the week cuz this was the probably the last bit of code I wrote is it this was was the last bit code yeah um so we actually did this we have actually got that functionality in so when you do a Bitcoin withdrawal or linning transaction or something like that no that doesn't link to that well no really no um so when you do a lining transaction um or a Bitcoin transaction then it will pull if you haven't got Bitcoin or you can actually set it so it pulls from your fat balance instead of your Bitcoin balance so you're not spending Bitcoin um we have that built already uh I've had that for we have staff is this one of those things that a few staff have that no one possibly I think I think we've even talked about it on here we have talk about on here um so the the problem the problem with that was just regul side of how it sits for UK customers and as we're moving UK customers into new entities there's a bit of mess around so we've ended up having to pause actually releasing that to people so technically it's there in the background we just can't release it fores that we're just working yeah yeah so um once we can do that again we'll just release it to the public unfortunately it's not because it's not one of them uh like a really high demanded feature should we say it ends up falling down the list and especially when it's a regulatory potential issue um we have to just kind of kick it down I always really like it when people come to us with a featur bits because it does get us thinking doesn't it so yeah thank you Jim Jim for um um more more the merer for the de Dave section and they'll be answered thoroughly by Dave once again and then expanded on by Danny we apologize I need him for some bits we apologize for not being able to release obviously but um we do have a couple other features in the pipeline that we can't talk about yet but yeah hopefully those are the things we were supposed to be announcing this weekend one of them was yeah but we've put off to but we have got a big announcement for next week announ we said this the last week I think I know right P like sorry about not announcing something this week but then next week we've got a big one three announcements BS way one each week next no one each week for the following three weeks and see that's over committed just go right we've got an announcement next we've committ technically all of them are already live announ we just haven't officially got things in in place watch this space yeah big announcement com a poor substitute a mini announcement just to apologize what now oh an apology announcement yeah what cheap announce yeah we haven't actually announced them so we thought as well no we got version two of Mount socks so we got new rocket ones what are these called the Bitcoin Island collection Bitcoin Island collection so they're all Island themed got new roller coaster M did you not even know that it sucks me I can't get excited about it to be fair the roller Co they look pretty cool I do like this one's my favorite funny Badger chilling chilling on the beach he's cool guy coconut yeah all right that's all right yeah so all right that's all all it's all right it's all right as b as announcements go so these are live on Mount socks at the moment did you some of these no these are Vicks they do look cool well done Vicks well done VI very nice couple of other designs as well but these are available to buy now so I know a lot of people giveaways can if someone says give me a sock can they get some sock one sock not a pair one sock best question for this week get SP socks uh signed by Dave by by you War me people say please no not my let's go with our best question then this week what Freddy or Dave we'll give we'll take questions via Twitter but also YouTube comments as well and watch out for Mike's new theme tune it's going to be sick nice all right sound no that's it covered Co right cheers guys thank you guys peace [Music]