Spend Bitcoin at Gucci | Britcoiners by CoinCorner #48

Join Danny, Molly, and Dave for this weeks ramblings. Topics this week include: Interest rates, The National Bureau of Economic Research declaring Chivo wallet a flop, Marathon Digital may sell some Bitcoin, Uzbekistan incentivise solar mining, Warren Buffet says he wouldn't buy all the Bitcoin in the world for $25, Gucci to accept Bitcoin and alts in select stores, and Dave plans to introduce Sat fines to his accounts team. A video version of this episode is also available on our YouTube channel: https://youtu.be/VQ_sZQcUAfc Britcoiners is a podcast by CoinCorner - a global leader in Bitcoin and Lightning services. Buy Bitcoin at https://www.coincorner.com

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is that normally just a big clap doesn't it do you actually use the clap whatsoever to sync audio do it so you need a good clip any sound i'll do it is that what it's for like i'd never realized so what if i did this i've got the clipboards for movies all right there you go mike make your job a bit easier we do that then we've already done that we're well into this now we're live yeah actually make your it'll make your life harder if we keep doing it just didn't realize we could make your life so hard challenge accepted so what topics have we got today we haven't even we haven't said zach's not here yet oh who you know what he heard what he is in the royal albert hall listen to that musician yeah very jealous i'd love to jealousy yeah okay i'd go see that which musician he told me but i was a very very left field musician musician [Music] yeah exactly when you know when you don't know enough details about somebody just like he's at the role out the whole but it just sounded cool when you told me we also need to mention the effect that mullet's awesome have you finished your breakfast cereal no i've actually waited and it's again pretty soaked well done i've got the two drinks just to piss you off yeah i've got formed a little barricade so that none of your negative vibes can my negative vibes will easily get through that barricade yeah over the top it's just his vibes he doesn't have positives as i said to you just before we joined the part i said i'm pre-socked i'm ready to pass even the noises yeah that's the argument outside there no one else is saying it but she's saying pre-song not not soaked it is interesting i've soaked my cereal i mean i've produced the iteration of that but pre-stocked is like so sog is a good word is it just me that's here in the woods yeah no that's why it comes around i'm not even sure it's a proper word um [Laughter] right now let's get on to the time i'm just authentic dave sorry i'm just a hotness i'm going to i'm going to talk gucci what have you got actually gucci is on the list oh i had that as well but i got some other ones because no one else ever brings together marathon digital they said that they might sell some bitcoin okay they're one of the biggest toddlers um el salvador's wallet has been referred to as a flop okay conversation around that you back us down yeah i pronounced that right wants bitcoin miners to go solar and pay no income tax okay warren buffett wouldn't buy all the bitcoin in the world for 25 and then gucci who what who the biggest one the news of the day what's that interest rate your interest rate hike from the fed yesterday causing the price rally oh i missed that hmm so it wasn't price rally price went down didn't it nope nearly touched 40 yesterday did it yeah that's everyone on twitter interest 39.6 went up to what uh they only increased it by um i think it was 0.5 50 basis points so they're talking about 75 basis points which is not seven five and they didn't go up that far and jerome powell said he wouldn't so everyone's got a bit bullish now because they're thinking oh actually we might be uh inflation might be coming down quicker than anticipating because the the actions they're taking without another reaction aren't they really to try and cater well we've gone straight into this topic okay straight into my topic yes yeah it's dominated uh yeah it's a they forecasted um interest rates rises in for 2020 up to 2023 at quite an extreme rate because they've got coolest economy because everyone knows inflation cost of living's got out of hand um so that's what they're trying to yeah interest rates normally do call it um but that can cause um you know negative effects in terms of job losses uh slow down in terms of a country's growth yeah so a lot of people they're always very reluctant to do it because essentially why would you if you're a politician you'd be banging the door not for them not to do it because you're basically saying right we might go into a recession people will lose their jobs as a result of this market comes down yeah exactly it becomes expensive to borrow so if you're a business and especially on the breadline you come out of covid you need you need to start borrowing this now makes it more expensive to do that so so the borrowing money people start cutting jobs so it's quite a depressing point of view when they do do it and that's why the stock market reacts in a negative way when they do do it but uh they didn't do it as much as they would have and that's why it caused a rally or they could have so it's all good so but it didn't give a reason to why did you say they're not yeah they think that um uh inflation will flatten out a bit sooner than well they called it transitionary well like me there they've been calling that for two years but now they think well it might actually be transitionary on it but they also they i think they were what's the definition of transition yeah it's just ridiculous yeah um it's words for word's sake which are meaningless because you can keep changing the definition to suit your your agenda but people have seen it as quite bullish it's a probably a good thing okay the same aren't they as well everyone follows yeah they'll all do it they're all planning to do it anyway they've all said they'll forecast it the annoying thing that annoys me a little bit is who benefits from um interest rates going up and it's it tends to be banking although they can but they have to they're borrowing the borrowing they can give out is reduced but if you think about a mortgage repayment most people's mortgages are fixed term for a period and then go go to a varied rate after that yeah so there's all these mortgages that you know like go out during this boom period when there was a lot of money around it's like the cantillian effect so they benefited a lot from giving mortgages out which saw the house prices saw you know build you know all that markets just soared because they had so much money to give out and so they benefited from having these mortgages to people and now they're going to benefit again because basically when the rates come out the cost they'll reap more of a return from those mortgages than they would have when they pre put them in so banking benefits just always annoys me it's always the guy on the street that gets absolutely well it's both both directions it's been it doesn't matter which direction it goes it's been it's been both so the housing market is boomed up no one can now afford a house and now the borrowing will become even more inhibited to get a house if you're a first-time buyer you're screwed and the wealthy that owned the house is pretty yeah the house prices have gone up so their net worth is going up they've always already got these assets yeah they've been inflated anyway and then now there's more of a wall around them ownership of them so they can get into more so yeah as well as down the street it gets screwed we're getting screwed again fight back with bitcoin how does that change how do we change our house do you just yeah click on there bitcoin fixes um well [Music] how does el salvador solve this if they can't issue more money and they've seen a slowdown in their economy um we don't know yet in terms of how that would work well that comes very nicely onto the topic of el salvador i've not read this one so what's no i don't know can we slide into this topic okay so yeah they're talking about the fact that um the national bitcoin wallet jivo has been a flop um it's by it was in a paper that was uh the first like in-depth non-government paper um so they studied 1800 households and they just said that basically let me just find the facts so researchers say that those who continue to use the chivo wallet are using it to hold and transfer dollars uh similar to how one uses digital wallets or banks so they're saying that it's not basically being used for what it was intended for what to bank the individuals well they're not using it for the bitcoin side they're using it to hold the dollars but it's allowed them to have digital payments yeah they are still a that they never had before so i would argue it's done exactly what it was meant to do are people moving away from chiva wallet too it is saying that they're using that yeah a lot of them are moving from chihuahua to like other wallets because the achiever was a government-sponsored wallet so if you're in el salvador some doubts in terms of so government itself so they're moving away so some of the facts i don't know like how biased this paper was i hope not but it said um so 61 of the people had abandoned the wallet after withdrawing the 30 sign up incentive this is what the the research paper found any company would do that and that's what that would happen is 61 like normal for that sort of thing for an incentive drop-off rate yeah so 61 have dropped off actually using it is that what you said yeah i know it's it's a bit of a shallow fact isn't it it's if they're opening all the wallets elsewhere then it's it's for a free thirty dollars you're not gonna get loyal customers at the end of the day that's just facts that's on any company any business doing that um you need to import you're in place don't you prefer it to be everyday use yeah just to highlight just from my understanding so that there was a tweet every day that people were jumping on and it was um i keep seeing a couple of people share it misinformation i think all from my understanding misinformation of what chivo while it actually was and is and it was developed by um algorand which is also a blockchain as my understanding too many of these days i can't keep up with what's named what um but they so people you will see like these little clips every now and then or people tweeting saying you know chivo's actually using algorand not bitcoin and all this sort of rubbish algorithm the company i think helped develop that wallet and create our wallet so the so when you're sending like you're saying there chivo to chivo then it's just doing a database transaction it's not doing it on the algorithm blockchain well if it is that's absolutely [ __ ] ridiculous um you would just use a database because it's an internal transaction um so the chief odds chief oh yeah that's dollar to dollar whatever that's like you say paypal style person to person if you then send outside of chivo to somewhere else it's using bitcoin lining network and because people are trying to argue that chivo doesn't use bitcoin for transactions and doesn't use lightning network and so on um but obviously to go outside of chiva of course it has to use um bitcoin lining network transactions um so it is using bitcoin chivo stupid it's like saying coin corners coin corners not using bitcoin because it's an internal transaction from two customers um but you can still it's still interoperable with the rest of the industry and you can send in and out of other bitcoin wallets and lining wallets so um you know that's like saying all of the people using it for me that would be dragging it back to all of a sudden bitcoin adoption is nowhere near what people think it is at hundreds of millions of people because they all use custodial wallets and internal transactions between coinbase to coinbase don't run the blockchain it's it's ridiculous um they're still using bitcoin and being able to make use of it and they it is interoperable with the rest of the industry so they can if they want and choose they it's up to the consumer at that point to move to a non-custodial wallet if they want and they can move their bitcoin their dollar value out of chibo into something else if they want well this this is all around like the chivo wallet so it doesn't actually take into consideration i guess how many people have actually gone off and got different other wallets yeah yeah but achievable that that's exactly what's going to be they'll cheat think of chivo as a company or which is but el salvador is a company launching chivo you're giving away 30 for someone to come and sign up of course you're going to get a massive drop off of people after you've come and got your 30 dollars uh it's ridiculous to think otherwise so for me people creating headlines like this or stories like this they're purposely doing it for their own agenda and to create a clickbait story um or they're incredibly naive and stupid to think that it wouldn't um it wouldn't have done that it was the national bureau of economic research of course it was in from uh massachusetts [Music] massachusetts no economists yeah okay um standard so yeah idiots okay it takes time as well for information here seven months in take care of the pinch of salt seven months since it went live it's like what what do people expect is just far too much gvp in el salvador yeah millions more banked yeah i mean there's many positives you could talk about as well yeah i mean one of the positives was this was that they said um that the people now use the app as a debit card for dollars so they're spending less cash which is you know which is moving to a digital framework yeah putting them in line with the rest of the world can be an open monetary network as well so all good it's a win we're good okay moving on oh why do we stand on finding employees for finances so the left field i was literally fighting francis at the moment if he doesn't do the bankruptcy oh findings finally finding finance going fine no i'll find him 500 sats if he doesn't finish his bank that's all right doesn't it i think it that might just turn on some uh hr eggshells i mean have you had discussions hr team why don't we test this we'll get francis to report it to hr on purpose and we'll test it out and we'll see how it looks because i was like i was speaking to him i was like i want these bankruptcy on by thursday close to play and then i was like and if you don't get him done you owe me 500 tats and he was like okay i was you as well not the company you yeah yeah yeah with and but then if it doesn't get by thursday it doubles so it's a thousand keeps doubling every day it's like i like it but i just maybe we do have to run it by hr if he's paying me out and stats for stuff he's not i should start i'm gonna find you a thousand subs for not having the bankruptcy for my stuff that's good dave i like that yeah i think finding people get francis to report to hr on purpose and see how the process goes yeah the employment contract i think about all the stats you could have got over the years i know i know steve that's actually genius just gotta see how it plays i mean it could go terribly terribly wrong yeah you could be sitting in front of a tribe [Laughter] wow um yeah marathon digital one of the largest publicly trading bitcoin miners and hoddlers said they might sell some of their coins i have from stone poor no well i don't know they said they need they might need it for treasury management or general corporate purposes yeah actually now it's kind of understandable welcome to the world of business well literally there but we presume all our revenues in bitcoin of the expenses will be in usd so they have to sell so they have to sell possibly which is just natural it's just uh that's just the world why is that a new story yeah that's someone's on coin desk moving on we don't have to sell bitcoin this month to pay for another one [Laughter] would you would you rather sell a kidney or bitcoin bitcoin obviously really he's only one kidney yeah right um ubekistan wants bitcoin miners to go solar and pay no income tax so they all have to go solar yes so they want to inspire growth and its local crypts um yeah they want to shift crypto miners away from coal by legalizing the use of solar power and they're going to charge miners legalizing the use of solar panels i don't know how it works so it's not legal at the moment i don't know maybe not in ubekistan that's interesting that'll be interesting to look at so they're incentivizing solar power yeah so they said they're going to charge mine as a premium for energy pulled from the standard grid which will they hope will then force them to switch to solar okay i like that it goes against but no it's not a free market no yeah at that side i like that they've never worked done something pro renewable energy and pro bitcoin increase your energy costs from coal to every other industry as well then yeah why is it was it you know although mining does lend itself to you know renewable isolated networks and all that and it doesn't have to be on an infrastructure around it it's still annoying that you would just target that one industry because it's more mobile and can move to solo there are lots of other industries that could move to solar as well so to just to point out mining is slightly annoying that because there's loads of industries that use a lot of power well there is yeah no i'm not saying this and yeah they're all all right you can keep using your coal yeah these guys have to use solar no but they're saying you don't get involved they're saying if they use they don't have to use solid if they use solar they get no time yeah but they're going to get charged more if they don't move yeah which will be the same as everyone that's not the same for every other industry but that means it's a negative further industries other industries if they move to solar they don't get a tax break what bitcoin mining does so it's actually negative to other industries in a positive to bitcoin yeah but it's also forced in the hand of maintenance it is to go clean energy which is actually other industries they're just leaving alone you can have your dirty coal at the same price you've already had yeah that's a different problem to me in my eyes i think i think the positive possible positives of going to bitcoin mining to be renewable energy that's the positive yeah but it shouldn't other industries need irrelevance it doesn't need government what they should do uh it's ridiculous that solar power is illegal that yeah i mean that yeah yeah i mean i didn't fact check this but i literally pulled this from oh google it's just that they legalized solar powered mining so manning was illegal oh okay this is handy happening bitcoin mining was illegal in israel i thought it was my i thought they had about 10 percent of you because i'm going to allow companies to mine cryptocurrencies using solar energy and example different all crypto operations by domestic and foreign companies from the income tax right okay the headline is um legalizes solar powered crypto mining let me just have that you should have got yourself a microphone shouldn't you you should have yeah nobody can hear that [Laughter] silence yeah so i was right let's move on i was just going to find out that's a good chance yeah okay so they're legalizing solar power for miners which might have been illegal before but solar power itself wasn't control of the power grid if you can because you can just isolate you can literally make your own solar power farm can't you so if you lose [Laughter] but yeah okay good news then yeah good news okay now for some bad news warren buffett apparently wouldn't buy all the bitcoin in the world for 25 as it doesn't produce anything what's the bad news we don't want him involved yeah so he was asked um at the annual berkshire hathaway shareholders meeting he had changed his famously negative views on bitcoin or crypto and he said if you owned all the bitcoin in the world and you offered it to me for 25 i wouldn't take it because what would i do with it i'd have to sell it back to you one way or another it's not going to do anything so the guy that's meant to be the one the most yeah prestigious the best investors in the world won't take nearly a trillion dollar asset for 25. well to be fair which actually is a ridiculous comment in itself though doesn't it really that's like saying the point of centralization that's like i wouldn't buy all the gold in the world for 25 because then it'd be worthless because i don't know so he's doing us a favor ridiculous comment i like the way we spun this obviously there's there's no answers to that argument of course but you get all me yeah i mean he is 91 so you know okay don't hold that against him he's very clever boy he's a dinosaur he's a dinosaur he's a dancer i mean he invests in a moated you know companies he sits there his yearly review yearly agm thing and has a can of coke in front of him every single year yeah like because he's invested in it heavily hold her in one of the biggest polluters in the world one of the biggest polluters in the world the unhealthiest drink in the world it's like yeah come off it but it does taste nice would be refreshing at an agm come on yeah everything plus points it does but it's charlie munger as well they both hate it yeah but they're just really good it's because they have so much money they have heavy bags in other places this is the third time you've mentioned you're annoyed well i shouldn't what i'm slightly disgruntled about is that when they say it doesn't it doesn't do anything in terms of didn't produce anything yeah and then you just read check your financial privilege by gladstein and about all the freedoms it's good it doesn't do anything to their world that's that's more of the point yeah he just has that financial privilege who's using it now and the freedoms it's given them and the fact that these people can now save and bank and trust in their own money and are free from a state that's actually quite authoritarian in lots of cases we've according to the gladstone book which is brilliant so maybe he just needs to read that and then would he have the same comment but he just went he's just yes it's not within his too stubborn too stubborn literally two stubborn dinosaurs sat there they're not stubborn saying have fun staying for him can we because it's switching up what they do day in day out those two is read financial statements from companies and see if there's any margin to be gained promoted in because a motor company is something that's got a unique product to a unique customer base that kind of can't be replicated like coca-cola you can you can't just come along and build another coat they've tried they won't never do it um well that's that's it that's my challenge you just you've just walked me up to a new challenge now thank you i'll that's his remit that's what he's brilliant out that's what he always beats the market this is to left field for him this is it undermines his world bitcoin undermines the fed so it just wouldn't work for him ever and so he's probably i don't want to be involved we don't need him involved he can't be positive for something that will undermine his whole world all he's doing is marketing bitcoin there which is great for bitcoin and him not being involved he's great for bitcoin yeah let him crack on do whatever we've got other things to do we've got a world to to disrupt and play with he's got his own little world oh speaking of worlds by the way you know this i read reading a book called the entangled life about about fungus right oh the mushroom book the mushroom yeah yeah yeah that you will recognize oh my god you should read it do you know what i actually kind of do it's just so fascinating this isn't left field this will come back to bitcoin yeah basically most fungus is in every ecosystem right this is called something called the mycelium network well yeah there used to be the mystery is it mycelium is still going on the wallet might still be going there i read this i was like oh my god this is just the organic version of bitcoin that's what i had i had no idea my celium wallet because that's all it's all about that's where the idea came well i have no idea i walked in the other day saying oh my god this is the perfect analogy for bitcoin you'll have to link you'll have to link to the video there's an old-school mycelium wallet advert like video like on i think it's on youtube and you'll see if anyone reads about the mycelium fungus network they'll realize it's just bitcoin in the organic world completely decentralized makes intelligent decisions on a consensus basis in in the real world it's the literally in every ecosystem it's one of the oldest organisms known to man outlived all the extinction events because it's decentralized nature because of how it makes consensus decisions organically it's brilliant you could people are scientifically right this is a scientific experiment they did i love this they pull um they did it in tokyo and in and for the uk they put fungus wood right so a food that the fungus would want so fungus has to find its own food and it has evolved over millions of years to do it so they put pieces of wood for every major city in the uk and put the fungus in london and so i wanted to know how it would connect to or find and connect all those areas so it grows out radially all you know completely decentralized every little node essentially at the end of the mycelium tail is searching doing its own search and within 24 hours it connected all the major cities in the uk so the scientists have done topography of the mud with mud of the uk connected all these major cities which are wood and mapped out the road network essentially of the uk and then centralized all these all this mycelium was just centralized along these road networks so it made intelligent decision through consensus and came up with the most efficient way to connect these towns that's quite that is quite interesting yeah and it's that's why i should be our next book for the book is there a documentary on that well i think it's an audiobook it's fantastic fun for me oh all right fantastic on netflix [Laughter] [Laughter] god this is it this is the perfect analogy and then it turns out that he someone's already written the pip uh braden quit quit quitting i think i pronounced that right uh he's basically he's written bitcoin is a decentralized organism mycelium and it's a brilliant article and his website is basically my perfect it's literally bitcoin health philosophy fungus that are a subject of articles oh my god this is my boy immediate follow-up this is your new your new man crush yeah i was like his article is brilliant and you should check it out because it is basically i've not read the article but yeah i think yeah bitcoin is the mycelium financial you need to check out the video if mikey can link the video to this there's a mycelium wallet advert from like 2014 maybe something like that and it's yeah it is i think this is i think it's an obvious bitcoin journey that everyone takes on eventually they find fungus can you imagine that quote and i'm there you should tweet that quote out today make sure it's yours though nobody else gets it first anyway so that is very cool what are you gonna do with your fungus fungus is like the flowering entities like an apple on a tree the mushroom bit is the flowering entity of a mycelium network right so there's more different varieties of fungus than there are animals and plants put together wow yeah and it's the longest living room these fungus i'm interested also you've got a new segment a lot of medical steve also wait sorry sorry this is no longer because it's a fungus yeah but humans share 50 percent of their dna with fungus fungus also breathe oxygen and exhale calm dioxide so there's lots of medical properties but paracetamol i think understand penicillin is from parasitic hormone pelican is a fungus so that people wasn't discovered by snakes so there's lots of medical advantages don't quote me on this but i'm pretty sure a lot of like holistic old style japanese and chinese like asian medicines are made up from mushrooms avoid holistic approaches but these are actual you know proteins produced real people real life science yeah yeah yeah anyway enough well what a journey back to your topics no i really don't think you can top fungus what we're okay so breaking news today gucci is gonna apparently accept cryptocurrency i say cryptocurrency it's accepting bitcoin bitcoin cash ethereum litecoin bitcoin this was gonna be my comments because she bring you shiva oh which one you missed it wrapped bitcoin oh except you wrapped bitcoin as a payment oh what just so yeah so the process as well is very confusing in store payments will be made firing a ur qr code that customers can start scan with their wallet sent by gucci via email so it's an incredible user experience it's what so you see you're in gucci store you want to pay at the till yeah hold on we'll just send you an email can i just have your email please okay here's my email yeah [Laughter] this yeah you'll get the invoice then and you have to pay the invoice there from your phone it's like it's just ridiculous unbelievable user experience must be online actually um no no it's this is in stores there's three stores in the north american stores this summer three this summer and then they said eleven by the end of the year or something like that the annoying is they'll then come back years later no no i wanted to use it yeah yeah well it was a very complicated process yeah i was just like oh it's it's an unbelievably it's not even like a it's a it's a backwards step to the 1920s or something it's like it doesn't even oh it's putting dates on it i remember it well it's such a backwards step it's like i don't think there's ever been a worse way to pay in the shop to see someone go to the shop and try it just say how bad it is it's unbelievable so yeah um yeah obviously there's also wrapped bitcoin in there as well um obviously she but it's like all the the ones that are like your your popular meme style ones and the ones that people have pushed you're like oh yeah i just want to play with shib yeah oh yeah what's your email address big ship um so one of the one of the things i'm starting to take away from this and some of these other ones where you start to see brands and companies accepting cryptocurrency payments we call it um it's starting to feel a little bit like the people there's people within these companies that have some some form of influence but they i have to assume somebody gucci there who's started to make this decision yeah that is what we're seeing because he needs to pump the price of his bags and that is what we're starting to see now why like they're adding ridiculous things in a ridiculously bad user experience like it's incredible like what are they doing and what are they thinking it's not just gucci's have done this you're starting to see other ones popping open businesses and um brands you saw that with the the roger with the bitcoin cash side where you'd get bitcoin cash people adding bitcoin cash and you know it's saying it's the future of payments and everything when it was it was clearly not um and i appreciate you know on the other hand people would say well you know we've we own bitcoin so we're trying to get people to accept bitcoin and so on and so on but bitcoin actually as a payment method especially like lightning in person is superior to what a lot of the world has these days wrapped bitcoin over [ __ ] email and it's just ridiculous what it's just it's just really not um it makes no sense whatsoever and so yeah it's i'd be intrigued to know who the decision makers were on these sort of things and have they put it in because that's their portfolio yeah and i think we should call that for that well hats off as well tactical well played yeah um because the reality is you know you're not going to go and pay with ship um well you never sell ship for one that's fine yeah because no one will buy it [Laughter] um let's find out let's see what their stats come back at um and do we know who they're using for this as well no it sounds like uh can we think of any one sort of thing pick up they got all those well they're idiots aren't they yeah they do stuff like that um well let's be honest or it could be coinbase comments pay these days um potentially it could be coins do they have shipped i think they do have shipped that yeah they've got ship well that was it as well sorry side tangent but also very funny i've seen a tweet last night saying that coinbase are no longer going to be tweeting yeah i saw this they're um yeah they're listings well anything new coming out no they're not gonna do it i don't know i didn't have a chance to read the comments but i was wondering i actually think he's a bit stupid they're doing this as like as defensively yeah so it doesn't like there's insider sort of knowledge as such but at the end of the day it's going to get listed then once it's listed people are going to spot it and the people i spotted first will go in and buy because they know the price will pump because someone's going to put it on twitter so at that point the price will pump so all they're going to do is actually allow more time for the coinbase staff to pay attention to them that's a regulatory thing it sounds like doesn't it it can't be seen as an insider trading it isn't well it's actually this is a backwards step in that because that means the staff get more time to buy the pre-pump actually which is a completely but it's definitely they'll show that it definitely pumps when they tweet out so to look like they're not pumping it yeah but then they can't surely it's just a product so they'll just add it to the suite but then the staff will know about that the staff will go and buy it somebody a couple of hours later will chuck it on twitter it'll explode on twitter the price will come out and the staff will play control at that point that's someone else on twitter but that's why we put it in but not them if they're buying if they're staff and buying it then they're tweeting out pumping it that's inside the trade it's ridiculous it's a completely backwards that like logic it makes no sense to me 1930s and 1920s pumping on twitter but it's how can how can they fix the regulatory thing and the sec is saying right do this blah blah blah how can they think that that is going to help stop insider trading from coinbase it might be part of other measures they've taken so it's just all these [ __ ] coin casinos they're just a million aren't they now got a little statistical stat for you you want to move on yeah top country uh with the most adopted uh how's that how they worded it so it's a survey of 12 000 people in each of these nations in terms of who's using bought or sold crypto in the last year and nigeria is still top what percentage 42 up from 32 2020 2021 is 42 so 42 of nigerians nigerians surveyed are using crypto in some sort of form how many were surveyed uh 12 000 from each each jurisdiction so a big enough sample um thailand second philippines third vietnam fourth where's the uk way down it's not there's a list of 56 countries um i only printed page one just to cut down on you know cost where's the us yeah not on page one is the last one on there's number 15 on this page at 15 so if you're listening to this warren buffett wake up yeah exactly the people of knight you do not think it's worthless you wake up yeah but he doesn't live in that world he lives in his own little bubble i mean this top 10 list is just a list of countries with volatile currencies turkey argentina south africa and the look of yeah interesting though is like this that highlights exactly that what we're saying now about the warren buffett i think he's he lives in his own little bubble in the us and thinks it doesn't have a use case when all these other countries of billions of people around the world clearly lives in the same house he bought in the 1960s yeah they say that but he owns how many properties have you seen that house though it's a nice little cute house it's not a nice mcdonald's it's monday morning it's still massive it's like it's talking about one of the richest guys in the world yeah absolutely huge he has bigger houses that doesn't it's like that's just like his main house main home one don't ruin the narrative mate it's still a big house i think he bought it for like was it like 1.5 million back in the 70s or something whatever it was the 80s how much was it it was expensive yeah 1.7 million pound house in the 70s 1.5 i think it was something ridiculous like that i have read about that in a bit well i think it was like i think it was literally yes i think about a hundred grand way back back in the day how much is it worth today oh worth today's a different story well no but we got extra value no no what's the house worth today sorry yeah no no that would have been 35k yeah the house is the house value's irrelevant because it's gone up because warren buffett lived there no the house that's have you seen the street it's a lovely street yeah it's a lovely street there's a lot of nice houses on that street he's doing well for himself yeah he's not for long though the way he's going he's just an ordinary guy he's done well he's the ordinary guy why did you like him uh i like his sound reason logic if you read about if you read his books it's very literally like no sway it's literally well he's not done very well on bitcoin the number sound logic has he no but he's he's made loads of mistakes and they trillion does everybody this will be another one got mikey so uh in 2021 it was uh estimated to worth 652 000 dollars no way no way i'm not buying that so that wasn't so i've seen my kids got a microphone that was 652.000 the average house price in america is not far off that these days have you seen the berkshire hathaway website because it's shocking oh my god it's like windows 95 yeah i came a dinosaur yeah anyway cool that's it cool local news wow too much stuff yeah we don't ever say it because we always forget um there's too much going on what about our visitor that we had at the weekend yeah cool cool cool story [Laughter] gandalf a wizard gandalf bitcoin gandalf he goes under on twitter can't that's you know i can't reveal his new real name he came in that's his real name um yeah he came over came say hi see the island spent some bitcoin picked a really crappy weekend to come he did we liked it still yeah it's still a good good time i think the weather wasn't that bad wasn't the best day to show off the island really but he's coming from another location which is equally as bad so we're getting a lot now looking to relocate to the alaman which is whether that's to come and work a place like ourselves for a job um and no fast bitcoins as well are bringing relocating quite a lot of people here and i think i've had two just this week message me just randomly on twitter asking about what's the you've got to because it's the best backstage got to be a bitcoin player here now yeah yeah plebs only starting to get a bit of a bitcoin community yeah we've got a nice little bitcoin ecosystem with all the retailers as well yeah team our own about at lunchtime buying lunch with lightning if you watch msw's twitter account he's always doing it yeah it's got a nice little thread going on i gave it a shower in the in there right now i went there get noodles with him the other day he walks incredibly fast takeaway is that i couldn't barely keep it and then he walked up the stairs here we're on the seventh floor and i had to get the lift you did that the other day with us it was like yeah it's like sounding up it's like no we're getting he just wandered off up by himself anyway yeah right see you all next week then cool thank you guys you