I've benefited from people buying Ledger's and digital bitboxes also I'm
the trezor for me is what I is basically what I use all the time
yes but though there is none no insurance by you again you're
controlling you're controlling your own private key
now that's and that's a really good question that's a really good question
because that's that's the name of the game here in this new realm that we're
used to and maybe one day maybe one day you know and that's that's the
entrepreneurial opportunities that are in this space there will be crypto
insurance companies one day how they will work I don't know yet like will
they in stores will they in short exchange Holdings I I'm sure someone's
gonna create some amazing things that we cannot imagine right now just like you
know before all of us were born when there when there was just evil
no one could envision net state back that bitcoins gonna have a net skate
moment by the way Bitcoin hasn't had a moment had it's still very hard to use
it's not user friendly yet at all it hasn't had that that mega user-friendly
moment yet but at the same time there's so many innovations that it you know we
couldn't have predicted YouTube in 1999 really would it's become our social
media you could have predicted social media in 1997 and it's just it's it's a
realm all to itself so in the Bitcoin space they're gonna be all of these
realms onto themselves which we cannot predict which is very exciting which is
why you got to think long term and not get scared off by all these impulsive
things that I was talking about before but I love how you brought off the
insurance and if any of you are into insurance you know figure out some ways
to make money off of it in the cryptocurrency space there is gonna be
opportunity there will be crypto insurance companies of some sort I'm not
able to explain them yet because they don't exist yes
okay my opinion of paper walls I'm not a fan
some people like to use them because they're free and I don't have to buy a
treasurer for $200 but it's not easy to extract the Bitcoin off to the paper
wallet what does its owner paper it's easy to
send it to a victim paper wallet but then a lot of people like how do I get
it off this paper lot and also all it is is a piece of paper with your private
key on it you could lose it it could burn up in a fire that would be bad
yeah that would be really bad that it you could have multiple copies of it but
all multiple cop that that's how you would back it up but a traceur has the
backup is the the recovery seed and so it's like it's apples and oranges
they're your tresor is completely different than the recovery seed you
know how you would lose each one how each one could be compromised but with
the paper while i'd yeah it eats its i mean it's a temper if you're a technical
dude then yeah paper while it's cool if you're at angle dudes it's not in like a
fire prone area i guess it's good but bad spend the 200 that debts that's the
kind of insurance we have now that's a crap the crypto insurance we had now is
just putting it on the trace or paper wallets I've seen ask a question and
somebody wrote to me there's a by he's metal like a great crypto steel you
could buy something called a cripple the letters numbers yeah this thing
called a crypto steel is a way that people actually save their treads or
recovery seed on it and so that way you'll never lose your recovery seed if
you use this thing look it up it crypto steel it's an interesting interesting
company outfit I think they're associated with Tresor
okay the guy behind Anders I was on push my teardrops and yes I wear this is
thanks go I just you know
yes let's see how well this beer Odeon project is that that's what I say
because you don't you don't have to rely on Tresor which you're you're right I
don't know Tresor is gonna do another that's not what they're that's not what
they're about what let's take a third option here - I think there's gonna be
an entrepreneur one day that is gonna make a device that easily splits these
crypto dividends and so maybe the airdrop direction won't be the way to go
but temporarily I think I think the airdrop if there was what was the other
one big core had an airdrop - that was pretty successful you get they if
someone is thinking of creating an altcoin that big coin holders get they
should learn from all the mistakes that are currently out there they should
learn from this be rhodium thing that we're about to see and by the way that
you know be rhodium I know that you either watch my channel or Andy Hawkins
Channel it's hardly any way this else is talking about it which is it is in
general just just signing on our treasure to give yeah I think that'll be
a new I think that will be a growing trend assume that and that's the
situation we're in now with the current paradigm of the way that the forks are
working now that you're gonna have to go to the Jimmy signs of the world and
trust them but what you're saying is the air drops you want if they start doing
it your air drop method or the B rhodium air drop method it'll be you won't have
to do so I and that's easier and that's easier so I think if these all coins are
these Krypton dinners are smart they're gonna do it that way in the future
remember we're in a bear market now and I think they are all the ones that are
on the horizon who want to do this no not to do it now because it you know
with the be private thing it wasn't it clearly was not the best
time to do it during a bear market I think that lesson was learned also if
your law if any of you are launching an altcoin or a fork of Bitcoin you don't
want to do it during a bear market you've seen that we've seen that now
Andrews neither question yeah as you said if traceur stopped as a company you
could take your seed and buy another hot wet wallet and then you could restore
your private keys but true so they have also class races which essentially makes
the 24 women fighting for a seat does that also work with lecher for instance
what you know well I don't mmm yeah it does when you're uploading don't
quote me on this one but when when you get into a stream I know since it is the
twenty-fifth word I heard of it I heard of a person who had a problem
where you know he lost his tressaurian he had the recovery seed and he's trying
to recover it somewhere and he kept forgetting the twenty-fifth word and it
was just as simple as typing in that twenty-fifth word so I what I think
it'll work with a ledger it'll work on a computer that has the proper
installation on it again you go to the treasured io f FAQ section and they show
you where you can recover it at and your twenty-fifth word will work there
definitely definitely but he it really becomes a twenty-fifth word in that kind
of situation yes yes I do let's take your time with it first of
all everybody's it's so exciting day they were dreaming on this they drew and
then they're like why is the price pop now that it's live be patient all the
magic that it's gonna be able to do all the awesome things were just at the tip
of the iceberg here now I mean I didn't even think it would be this far you know
by 2019 so I think the year the Lightning Network is probably gonna be
2019 and we're gonna see some really awesome things there what I can tell you
is every place I go to all around the world I get asked that question so
people know about it people are excited about it people want to use it
people are not believe there's all sorts of fun out there from
from the haters that could say it's like a bank takeover or a government I mean
the conspiracies that you hear about her unbelievable that there are more people
out there that are excited about it like you and you I'm very excited about it
but let's do let's take it one step you know I'm talking about things that we're
not gonna be able to imagine that's that's a platform where we can't even
imagine some of the things are gonna be able to develop on it and I mean I know
guys that are like developing on it really smart guy so and I've had one
Mike Paul who's been on my show before is also and it just you get pumped when
you hear these guys talking about it and they start talking about things you
don't even understand you're like oh maybe anyone I saw some more hands
before yes yes and the ones that are not as easy like diamonds and all that stuff
like I've started the process but I just kind of like this is a great question I
have not split my bead diamond yet I am not comfortable I'm not doing it till
I'm a hundred percent comfortable with with the other ones
which basically is until the treasurer does it or until some other magical
thing I mean again someone might make a device where that just specializes in
this stuff it's not it's not worth it to me the the price of the bead diamond
right now either to even do it like and then the pain of moving everything off
my treasures and then entering those private keys
into some third party n I'm waiting for the treads were to do it for me so I've
only messed around with the crypt of dividends in terms of my be gold and my
B cash because the treasure it was so simple I mean you see it I mean it was
awesome some people have multiple treasures and they have a white one yes
yes that's what I was to and that's what I was saying I can't do that because
it's just I don't have it with me it's a pain it's there's some because I've got
to spread out and I'm very worried I don't like messing with with my recovery
seat I don't like I don't want to I don't
I don't have to I cannot power without that and do you ever practice restoring
your Tresor no no I don't because I'm so paranoid about I like touching back
touching the recovery seat some people that wouldn't hurt if you did it from
her it wouldn't hurt from doing it from
Tresor to trenzalore we're right but to recover it on a computer does hurt and
some people have tested it out that way too you know typing that I wouldn't
recommend but you're right that that wouldn't that wouldn't hurt but no I've
never done that was I just don't I don't like fiddling around too much I like
just putting it away and forgetting about it that's how much of a holder is
I again I said not you know when I get new Bitcoin for whatever reason I send
it over there but I never take anything off off of there no reason to take
anything off of there where do I buy my Bitcoin where did I buy lies Bitcoin ISM
well I I don't even a coin basis where I got it from so I am very well aware that
when I signed up for with that I bought my Bitcoin there so the United States
government knows exactly how much Bitcoin I have purchased so when I do
sell my Bitcoin in the far future I will have to you know I'll say hey I sold X
amount this is my profit you know it it'll all be on the up-and-up and
everything because there's a lot of people are like oh how could coinbase
tell the IRS how many how many Bitcoin I am well that's what you signed up but
that's what it's it was easy it connected to my bank account you know
there are other ways you know tone BAE's he got his Bitcoin he went to a back
alley and he gave some guys some cash and I mean literally that's what he did
it was I don't know if it's a back which I mean people could do that too if
they've got a lot but they like carrying around a lot of cash with them I mean
I'm from Baltimore I mean I'm not gonna walk around so you borrow more than a
bunch of cash in my pocket you know making deals with dudes I can if you do
want to do that you do it in a back lobby in a very wealthy suburb where
Debbie I don't know the I've got telling people again I got
there the question was I got it I got a few point base at the time now we're in
a situation though I encourage people to start your own businesses and earn
Bitcoin you can earn Bitcoin you can there's social meet there's a social
media platform record steam attack out there where if you're a content creator
an artist you can post your stuff you'll own your earn this other type of
cryptocurrency called steam but you could turn it in the Bitcoin and I just
I just encourage people to get creative in ways they they get Bitcoin for earn
Bitcoin but again if you just wanna buy Bickman go go to coinbase I'm not you
know coinbase has had horrible customer service in the past they don't have much
competition Gemini is basically their competition which is an exchange which
is a little different and then bit flyer USA is going to be competition or is
competition nobody will there be more and more beyond which one Robin Hood
yeah Robin Hood's are but is that their Fiat gateway on that you can see that
that's what the that's that's what's gonna get more and more people in the
cryptocurrency there has to be easy ways to get turn your Fiat into Bitcoin so
those are the what we just mentioned there's those companies are the only
ones out there right now because in the United States there's very high
regulation you have to pay all sorts of laws if you're gonna be in that in that
realm of business but it'll be it'll be easier eventually be patient and again
if you get rejected by coinbase thing then try to go over the Gemini an extra
kid flyer because you Corby's can be strict and they can be slow I think
they're speeding up again now that again it's probably easy to sign up for
coinbase now that we're in a bear market I have I obviously haven't tried that
yes the next big event for Bitcoin we need in terms of event where people
gather or the big innovations Thanks I'd say liking that lighting that
work basically that that is there's other ones other on chain solutions are
cut they're coming up with what's the there'll be some time to see
it well let's say let's leave it Lightning Network yeah that's a question
oh look at look at this plug come next month for vortex he'll be able to answer
that button better than I can remember right here what's it dude what dude
first four text will be in the house and if you're happy to be in Denver on next
Wednesday vortex will also be there and I'll be there and all these other guys
be answered technical questions in in Denver okay someone had a guess now I do
actually I didn't used to do it till recently
we're gonna be the bisque is awesome if more people used it this is the name
it's not easy to you it's not very it's a little complex there but eventually
we're gonna need exchanges this is getting into the altcoin realm a little
bit but you know I would someone you know about all coins and everything
these exchanges have become kingmakers for all the points okay
if you're an Allpoint you don't get on one of these big exchanges you can't be
anything so where how that comes back to Bitcoin when Bitcoin crypto dividends
come out when we get these free by being holders a Bitcoin and we get these free
crypto dividends that we somehow get our call to them if the exchanges don't
carry on then they're worthless and this is what's just happened
well not work they're not worth that much this is what just happened with be
private you know all the Bitcoin holders are entitled to this cool privacy
version of Bitcoin which is basically a Z cache version of Bitcoin I'm not gonna
get into it but since no major exchange has it yet they're issues the price is
not maybe what it should be so this is why we need to centralize exchanges to
get rid of the and all these exchanges could be bought out by big that's
another thing is happening consolidations
in the exchange realm they're being bought up by bigger companies who were
obviously being more indebted to governments more likely to follow their
rules more likely to reject you more likely to require more personal
information for you that's why we need because then again cryptocurrency isn't
about relying on third parties and giving away your personal information
it's about decentralization so something like bisque which exists already which
is not for a beginner but that's gonna be the future and I hope that one of
Olives try it out investigated everyone that it's be is cute right I think V is
Q calm there's one called that when I actually I might know that one there's
others but biscuits is them this has been around for longest it used to have
a different name you can only yeah you can only send all coins in Bitcoin know
that the Fiat the problem that happens with fianza it can always be taken back
the bank can always punish you somehow all right there was a Andreas had a
great video about that look Andreas Antonopoulos everyone he is a respected
person who doesn't go to too crazy who doesn't ripple who doesn't you know
try to say bad things about other people very level-headed very smart if you look
at his recent archive of videos he talked about decentralized exchanges he
mentioned this specifically and he went into why Fiat is never gonna really work
on that so look that up if you're curious about that alright and someone
else had their hand
anybody anybody I'm here I'm on fire oh yes press predictions ah this is what I
say to people this is what I say to people in 2020 yeah you know I I bit
like I had the experience leading up to the 2016 having any really leading up to
it reverse the momentum of the time so like Bitcoin was like hovering finally
had gotten up to like 350 at the beginning of 2016 and when more and more
people started hearing about the having the price double it basically went up to
600 then there was a big Finex hack and the price went down but one can say that
the price doubled going into the having once people found out about it now I'm
not gonna say the price is gonna rise it's gonna double going into the 2020
happy but if we're still in a bad trend then I think it'll go from bull to bear
or bear to bull once more and it's just a shame that more people that are in the
space don't even know what the having is and that one is going to happen in the
summer of 2020 but that's my prediction is leading up to the 2020 1/2 and we're
gonna have some good people are gonna be happy about the price I know that's not
very specific but I got I stick away from price predictions
people like Tim that's the way I think you know that's the way I think well I
mean there's there's always people need a at that time still 2020 intern what is
what's it valued in dollars it you know it'll matter to people if you won't be
able to buy everything a Bitcoin by then you won't be like one Tesla is a Bitcoin
now hopefully I you know again with me my personal this is my thing I tell
everyone do not sell your Bitcoin until at least
after the twenty twenty happy and I've been saying that prices before the
twenty sixteen having I don't know the first time it but it means to come one
of my little catch phrases 2020 happy
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