This week, Joe and Matt talk about shaving, buttholes, and why they don t need them. Plus, they talk about how to protect your family in the event of a zombie apocalypse and why you should get a last will and testament from your dead loved ones. Don t miss it! Logo by Courtney DeKorte. Theme by Mavus White. Music by PSOVOD and tyops. All rights reserved. Used by permission. No commercial use is implied or intended to imply endorsement of products, services, or products related to a particular product or service. This episode was produced and edited by Joe Rogan and Matt Knost. Our theme song is Come Alone by Suneaters, courtesy of Lotuspool Records. The album art for the episode was done by our super talented Ameya. Thanks to our sponsor, The Dollar Shave Club. Don't forget to rate, review, and subscribe to our new podcast on Apple Podcasts! Subscribe, and tell a friend about the podcast! It helps us spread the word about what's going on! and we'll send you guys out there with more awesome stuff like this! on the next episode of The Rogan Experience! Cheers, Joe & Matt and much more! - The Rambling Crew! XOXO - Caitie and the crew at The Rookery Crew Joe and the Rookwood Crew at the R&R Crew at J&R Thank you for listening to The R& R Crew Podcast. - Joe Rogans and the rest of the R & R Crew at The Rogans Crew at R& J& R. Crew at S&R. & the rest at the Rogans at the G& R & J at The G & R at the J & R.B. Thank You for all the work they do so much more. -- Thank you so much for all your support and support and all the love and support you're amazing work and support us with all the support we get back from all of this week's work and all of the work you're getting out there! -- thank you for all of your support & support, it's so much love & support and love back from the work that you're so much of that's going out with all of it's worth it, thank you to you, JOGAN.
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00:13:43.000It was fun having you on before and a lot of feedback.
00:13:46.000A lot of people learned a lot about cryptocurrencies and the benefits of them, what's going on, where the push is, where the negative things are, and put a little balance to a lot of the negative press that you hear about.
00:13:57.000Bitcoin and all these different various cryptocurrencies in the media because that's literally all I hear.
00:14:04.000I mean, I know people are trading things back and forth, but you really put it into perspective for us, especially when you were talking about that, what was it, $150 million transaction?
00:14:13.000Is that the one that was done through Bitcoin?
00:16:16.000And if you gained, you pay capital gains tax on that.
00:16:19.000And if you lost, you can account for capital losses.
00:16:22.000That seems like if people were smart, they would buy up a shitload of Bitcoin and then sell like right before and fucking crash the market and then pay their taxes and then buy!
00:16:32.000And then you'd fucking just keep winning.
00:16:34.000Yeah, the market's big enough that you can't really play those kinds of games.
00:17:26.000You've got a good point too about saying that it's important to not look at it as an investment.
00:17:31.000Because there's something kind of gross about those kind of investments.
00:17:35.000Like when you find out someone got in on a stock early, like some tech company, and they made like 300 million bucks for no fucking reason.
00:17:56.000For the average investor, that means it's way too risky.
00:17:59.000Now, there are some investors, sophisticated investors, who have a broad portfolio and who may want to take a small part of that portfolio and put it into a very high volatility investment in order to churn some returns out.
00:18:13.000But they would do that knowing exactly how much risk they're taking, which is a lot, and balancing out that risk over a bigger portfolio.
00:18:54.000You'd buy up a bunch of Bitcoin, and then when the price hit a significant margin, like if it got to a high enough level, you're like, you know what?
00:19:07.000It's a simple rule, but the problem is you never know where high is, and you never know where low is, and most people essentially end up falling for The basic psychology of panic and greed.
00:19:17.000And so they end up actually buying high because of greed and selling low because of panic.
00:19:22.000And then they end up flipping that equation and losing a lot of money.
00:21:54.000What's the lowest it's been like in recent times?
00:21:58.000So, last year, this time, it jumped from about 100 to 266, and then dropped again down to 50. So, at some point last year, it was 50. And then, in the meantime...
00:22:10.000Now it's 500. Then it went all the way up to about 1,000, maybe 1,100 on some markets.
00:23:04.000And in the end, it really doesn't matter.
00:23:06.000So for folks who don't know what we're talking about, this Mt.
00:23:10.000Gox thing was this online exchange that it turned out Someone somehow, whether it was an inside job or not, someone somehow was stealing money to the tune of hundreds of millions of dollars worth of Bitcoin.
00:23:23.000Took all of the money in the exchange.
00:24:01.000And he was also a fucking thug, like a super legit criminal.
00:24:06.000And he was a part of a huge multi-million dollar bank heist where they came in with fucking ski masks and bulletproof vests and high-powered rifles and machine guns.
00:24:20.000The full deal, like full black ops, like a movie.
00:24:24.000And they have the security cameras of these guys.
00:24:26.000And then somehow or another, they all got nabbed.
00:24:30.000And this guy, Lee Murray, was one of the ones they chased after the hardest.
00:24:35.000He went to Morocco, and he was hiding there, and he got arrested there for kidnapping someone and beating them up after he did the bank job.
00:25:20.000$20 billion with a B. And there wasn't a manhunt there because the real truth is that if you want to rob a bank, what you do is you go get a banking license.
00:25:34.000Then you rob the bank using a keyboard instead of a machine gun.
00:25:42.000That's the modern way of doing bank heists.
00:25:46.000And that's the way that doesn't get you shot and nets you the biggest return.
00:25:50.000Well, when you're a crazy criminal, though, and you don't know how to work a keyboard that well, you've got to be L33T to pull that shit off.
00:26:21.000If someone stole a hundred fucking million dollars worth of money, like if a hundred million dollars worth of diamonds went missing, what a manhunt.
00:27:57.000They don't have their money in a bank where someone else has custody of it.
00:28:01.000And then they just have a little IOU note that says you have this much in the bank and maybe we'll give it to you when you come to withdraw.
00:28:39.000When you have that much money under the control of an individual or an organization, society then builds all of these regulatory institutions because they figured out that when you do that, Those institutions, those organizations,
00:28:55.000those individuals steal the money again and again.
00:28:57.000When you put one person in charge of the money, they steal the money.
00:29:01.000That's what power corrupts, absolute power corrupts absolutely, and there is no more powerful corrupting influence than money.
00:29:08.000So when you have people who have millions in their control, Bad things happen.
00:29:16.000Or they're sloppy with their security and somebody else robs them.
00:29:19.000But in either case, all of the banking regulations we have are to stop the fact that individuals control too much money from stealing that money.
00:29:49.000Gox took it away from the control of the individuals, but then didn't have any of the regulatory institutions that we traditionally have in banking.
00:29:55.000So they weren't using the Bitcoin security and they weren't using the traditional banking regulations and audits to protect them.
00:30:02.000They were in this gray area in between where they had all of the control over the money and none of the protections.
00:31:11.000But he provided a really critical service at a time when Bitcoin desperately needed it.
00:31:16.000He provided a market where people could buy and sell Bitcoin in a transparent way.
00:31:21.000And for the first time you had Bitcoin pricing.
00:31:24.000You could figure out how much a Bitcoin was worth because there were lots of people trading it and therefore the price that they settled on over thousands of trades was price discovery.
00:31:34.000You need that in a market to function.
00:31:36.000So now you had a price and for many years the empty ox price was the price of Bitcoin.
00:31:42.000Alright, so let's stop calling him big fat face.
00:31:52.000He helps out a lot of people by letting them establish a price.
00:31:57.000Yeah, which made a huge difference for Bitcoin.
00:31:59.000I mean, there was the first time you had a liquid market where people could actually trade not just face-to-face, but could exchange various currencies for Bitcoin.
00:32:06.000And that was incredibly important without MTGox.
00:32:10.000So he's essentially just a symptom of a growing market that he just wasn't prepared for.
00:32:23.000When it comes to computers, I'm a real dummy.
00:32:26.000So if I was running some sort of online exchange and somehow or another started trading Bitcoin, and then I started seeing hundreds of millions of dollars, I would have to bring people in.
00:32:36.000I would have to bring in, like, financial experts and coding experts.
00:33:15.000But at the same time, it's a classic story of someone who was in a situation that was way over their head, and then they tried to handle it without asking for help, and then it snowballed, and they tried to cover up some mistakes by making bigger mistakes,
00:33:34.000and then bigger mistakes, and then bigger mistakes.
00:33:41.000Some money was taken in an earlier incident from the system.
00:33:46.000And then I think he tried to cover up the lack of money by essentially generating more fees from the customers and paying for the previous loss by bringing in new customers and trying to stay ahead of the loss.
00:34:01.000Which, by the way, we've seen this again and again.
00:35:08.000He's like, you invest, you put money in, and then new people come in, and then you know you can take money out, and then new people come in.
00:35:35.000We had one of those cantinas where you could buy donuts and things like that.
00:35:40.000So it was kind of like a donut pyramid scheme based on the school cantina.
00:35:44.000But they actually drew it on the blackboard as an airplane where you sit at the front and then two people sit behind you and then four people sit behind you.
00:37:45.000We don't know whether or not he was a part of it as well, right?
00:37:48.000We don't know how much was stolen by outside people.
00:37:51.000He certainly did try to cover losses, but we don't know if those losses occurred because he lost keys to Bitcoin and essentially lost the money or if it was stolen or if it was embezzled or if it was whatever.
00:38:18.000We're going to find out the answers to that because Bitcoin uses a public ledger and there's forensic evidence sprinkled in the Bitcoin transaction ledger that allows us to track exactly what happened.
00:38:30.000This is the most transparent financial system, so we're going to get some really interesting answers.
00:38:34.000So we'll be able to find out who has it?
00:38:37.000We, not really, but we're going to be able to find out what happened and when it happened.
00:38:42.000What happened and when it happened, but you can't find out where it went and you can't track it.
00:40:48.000I mean, you would think that this guy with hundreds of millions of dollars, like, every step that guy takes, he must be looking over his shoulder.
00:41:12.000And then the other culture, which is, well, geeks like me, I mean, you know, trying to attack someone and cause them harm, I'd have to reach for an asthma inhaler four times in the In the process of committing a crime.
00:41:27.000But it seems like a guy like you could figure out a way to code an app for your phone that controls a drone that shoots missiles.
00:41:35.000I mean, I would think people like you would be the worst people to fuck with.
00:41:41.000But you're not motivated enough, but you didn't lose hundreds of millions of dollars to this cat.
00:41:45.000Like, what if you had $100 million in that $800 plus whatever it was that disappeared?
00:41:50.000If $100 million, you know, whatever, plus or minus, was all yours, you would be fucking bloody furious.
00:41:58.000And there are a lot of people who are very upset and very hurt by this situation, and a lot of people who lost a lot of money, including it had a ripple effect.
00:42:05.000You've got to realize that many Bitcoin businesses had money in accounts there.
00:42:11.000So that loss then affected the cash flow of other Bitcoin businesses that suffered and charities, many charities that lost money in MTGOX. Oh, wow.
00:42:22.000So a business like, say, one that I keep hearing about is Tiger Direct.
00:42:26.000Tiger Direct is a pretty huge computer company.
00:44:29.000There are other businesses who also have custodial accounts over Bitcoin, and they implement very smart systems to segregate Bitcoin.
00:44:37.000So, for example, on a daily basis, they will sweep 95% to 98% of the Bitcoin off into wallets that require three out of six people to come together to unlock them with the keys separated on separate devices,
00:44:54.000And those systems are very difficult to break, right?
00:44:57.000Because you need collusion between multiple people.
00:44:59.000And that protects both from external theft, but it also protects from internal compromise, malicious insider, embezzlement, fraud, even by the CEO sometimes.
00:45:34.000But in the end, it had nothing to do with Bitcoin.
00:45:36.000It was a classic bank failure of the traditional kind.
00:45:39.000It was the result of the fact that they fell in a gray area where they didn't have the protections of Bitcoin and they didn't have the regulations of a regular bank.
00:46:05.000They were trying to do some kind of structured thing, and then I think it was four or five days ago, the Japanese authorities decided to decline and force them into liquidation.
00:47:01.000I mean, I would be surprised if he doesn't face some kind of serious consequences.
00:47:07.000You weren't that concerned, though, about this in the overall scheme of things for Bitcoin.
00:47:12.000You thought this was just sort of a bump in the road and that eventually it would be overwhelmed by the sheer positive benefits of cryptocurrencies.
00:47:21.000Well, I mean, I think the thing is that it didn't really affect Bitcoin itself.
00:47:27.000It was, in fact, a very strong argument for why you need to decentralize financial institutions, because when you centralize them, they fail in exactly this fashion.
00:47:35.000That's what we're trying to change about financial services, make them more decentralized, diffuse the power so it can't be corrupted and compromised.
00:47:47.000I'll tell you right now there are going to be more bank failures both in Bitcoin and of course as they happen every single year by the hundreds there are going to be bank failures in every currency including Bitcoin.
00:47:57.000There are going to be CEOs who run away with the money until we implement better solutions to control the power.
00:48:04.000So for example if you've got a startup and they're raising money in Bitcoin you don't give all of the keys to one person.
00:48:14.000Because the person you think you know, who's your cherished partner in this venture and you've known all your life and your childhood friend, when they have access to a couple million dollars, they change.
00:48:28.000They're dramatically and radically affected by money.
00:48:31.000And then all you need is a precipitating event, an illness in the family, a crisis, you know, a bad thing happening to that person, and they will grab that money and run.
00:50:46.000Very good as internet service providers and created whole new businesses that replaced those lost revenues.
00:50:52.000So what happened there is you have these telecom companies trying to fight it until some of the smaller ones, some of the ones that don't have solid entrenched positions and can't take advantage of size, think, you know what?
00:51:06.000Maybe I'm going to cut off from this herd and go play with that Bitcoin a bit.
00:51:10.000And as soon as that starts happening, there's almost a stampede because everybody tries to rush into it.
00:51:15.000That's what happened with telecommunications.
00:51:17.000The smaller providers started peeling off from the herd and instead of fighting it, they started trying to build service providers.
00:51:23.000So it's really just a matter of who runs first.
00:51:26.000Someone's going to start running and then...
00:51:56.000And Bitcoin threatens some business structures within the banking industry.
00:52:02.000It's going to make it difficult for them to charge exorbitant fees to do international wire transfers when you can do it cheaper, just like If you have Skype, you can't justify $3 a minute long-distance calls.
00:52:14.000But at the same time, the smart bankers are looking at this and they're saying, yeah, but if we have a cheap, efficient, secure payment system, we can build some really interesting things on top of that and create whole new businesses that are very competitive,
00:53:04.000And we've seen this happen in technology races before.
00:53:08.000Yeah, that's fascinating how some people just don't want to buck the trends.
00:53:12.000They don't want to go along with the flow of things, or they want to buck the trends.
00:53:16.000They want to somehow or another figure out a way where they can prove everybody else wrong, and VHS is making a comeback, and renting movies is still valid.
00:53:26.000There's a lot of those fuckers out there that just...
00:53:43.000At the moment, being on the top of an industry, especially an industry that's involved in technology, is a very precarious position.
00:53:51.000If you talk to Kodak, A decade ago, do you think they would realize that suddenly the largest vendor or manufacturer of cameras in the world would be a telephone company,
00:55:02.000And what he said was that he estimated that because of the way silicon works, every 18 months, the speed of a computer would double or the price would drop by half.
00:55:12.000And that has been true now for more than 25 years.
00:55:17.000And that thing then plays out in camera megapixels, in storage on SD cards, in the size of your smartphone, in the number of sensors you can put into the smartphone.
00:55:29.000Battery life is the one that's lagging behind, and it's the main thing that's holding back this technology.
00:55:36.000Moore's Law also applies to things like Bitcoin.
00:55:38.000It also applies to networks like the internet.
00:55:41.000And what it means is that if you're in an industry that's established and suddenly you have a competitor that's coming at you with the power of Moore's Law, you better watch out because it's not a matter of whether you will be able to compete in a decade.
00:55:54.000It's a matter of whether your industry will still exist in a decade.
00:56:58.000And I'm stuffing coins as fast as I can into this payphone, and then, you know, four or five minutes later, $10 down the drain, and I've said hello to the entire family, and that's all I could afford.
00:58:17.000I mean, is there like, can you find a logical, if you try to take devil's advocate?
00:58:23.000There's three or four reasons, and I can give you them from the obvious to the cynical and paranoid.
00:58:30.000First of all, I think they are worried about this strange technology that they don't know anything about, and they're worried about what kind of reputation hit they'll take if one of these apps is compromised and causes their customers to lose money,
00:58:48.000More worried than Google, who allow all of these applications on Google Play.
00:58:53.000So it's not a legal thing, because Google has lawyers too, and they're quite happy to allow Bitcoin applications, and Apple does not like it.
00:59:05.000Whenever you spend money on buying an app or buying something inside an app, Apple takes like 30%.
00:59:13.000So their own payment system through the App Store and iTunes and all of these things generates an enormous amount of revenue because they take a very big cut of these things.
00:59:23.000If you could put a wallet in a phone, then you could also put a wallet in an app.
00:59:28.000Then you could also do Bitcoin transactions in an app.
00:59:30.000Then why give Apple 30% cut If you can just bypass them and do all the payments through that.
00:59:36.000Do you think that that's ultimately going to be Apple's demise, though?
00:59:40.000I mean, if you want to talk about people that had a grip on a market and then it slowly slipped away, Apple had an enormous chunk of the smartphone market just a few years ago.
01:00:43.000And I wonder if that's going to happen with things like iTunes, exchanges.
01:00:48.000Right now it's convenient to use iTunes, but once I switched over to Android, I found a thing called DoubleTwist, where you could send your music to your phone.
01:02:14.000Like, we were in the green room the other day at the Orlando Hard Rock, me and Joey Diaz, and Joey Diaz goes on this epic rant about Led Zeppelin, Led Zeppelin 1, because there was a poster on the wall that I took a picture of, and I put it up on my Instagram...
01:02:27.000It was the first tour poster from Led Zeppelin in 1968-69.
01:02:32.000And we were like, could you fucking imagine what that must have been like to experience Zeppelin for the first time back then?
01:02:40.000Joey was going off about how it blew people away.
01:04:22.000Then the control situation has to open up the borders again, let everybody flood in, do a lot of fragmentation and experimentation, and the cycle starts again.
01:06:14.000You either have control and tight quality, but it's slow, or you have speed, but it's, you know, at first, it's flaky.
01:06:23.000Yeah, and I would be the first to say, hey, you're right, you know, this iPhone is a piece of shit.
01:06:28.000I still buy all the newest phones just because I'm looking, just like everyone else, to find something better, but man, I... You can't break this thing being quality.
01:07:48.000and they get more technology for the money so that's why it's become so popular because all the poor markets are buying it so it looks like Android's just destroying Apple In that regards, but it's not meaning that it's a better product.
01:07:59.000Best smartphone camera overall, iPhone 5S. It's the mass market audience, especially in Asia where you can get an Android phone for $50 to $100 instead of $300 to $400 equivalents for an iPhone.
01:08:14.000Image stabilization and dual LED flash.
01:08:17.000You got one of the best phones for taking pictures in low light or any situation.
01:08:21.000Apple has improved its camera I'll tell you one of the coolest things, I think you could do this on the Android also, it's burst mode, but being able to just, and I didn't even know I had it.
01:08:35.000If you just hold down the camera, it just takes a million photos.
01:08:38.000So if you're with, say you want a picture of Joe Rogan, you just sit there, hold down the camera, it will go and take like 300 photos of you.
01:08:46.000And then you can just choose which one you didn't blink and stuff like that.
01:09:12.000It's not important, the camera's not nearly as important to me as being able to do my email, go online, everything plays, like flash, anything that has flash on it plays, no problem.
01:10:02.000I tell you man, since this iPad Air, I've been taking my iPad almost everywhere, and now I don't give a shit about my phone, this is just for texting.
01:10:14.000This thing's so light, and like, you could just keep it everywhere, and like, if you really want to surf the net, you know, even the new one, the small one.
01:10:21.000Yeah, that is a good move, but you can't put it in your pocket.
01:10:25.000I honestly just don't trust the apps in the App Store and the Google apps and the back doors and the hackability of the operating system.
01:10:35.000To me, I think the iPhone is just a brick and your important stuff, your text messages and your crap like that should have the highest security.
01:10:43.000Not something that's so easily been hacked.
01:10:46.000So right here, this comparison between control, quality, but slow innovation versus speed, choice, fragmentation, but flakiness and weird security problems and cutting edge, that choice is playing out.
01:11:01.000In many areas of technology, whether it's...
01:11:04.000And this choice played out on the internet at first, which was the idea that the internet was a far inferior network to the carefully controlled...
01:11:12.000If you like it, the phone companies were doing the iPhone of networks, right?
01:11:16.000And the internet was like the scrappy, messy Android of networks.
01:11:41.000And in finance it's much worse because the closed control systems of the banks...
01:11:48.000have existed for hundreds of years and this scrappy new Bitcoin thing which is not as fast in many cases but fast in other cases has more choice but also puts more responsibility for security it's more flaky it's more scrappy it's more versatile it gives you a hell of a lot more choice and it allows you to innovate really really fast It doesn't give you the quality.
01:12:11.000You don't have the controls and security, supposedly.
01:12:16.000But at the same time, the banking system is failing to deliver to consumers.
01:12:20.000It's failing to deliver security because people can get away with massive theft on it.
01:12:25.000And so now what we're seeing is this exact same scenario that you described, that we saw with the Internet versus telecom networks, that we saw with iPhone versus Android, is now playing out in finance with Bitcoin.
01:12:54.000But the 41 megapixel camera apparently is just unbelievable.
01:12:58.000The photos are so big that even when you zoom in, like way in, like you could take a photo and zoom way in and still crop it and it's still an excellent photo.
01:13:07.000Yeah, that's about the only reason why you'd want that many megapixels though, honestly.
01:13:13.000People stopped caring about megapixels a while ago, for the most part.
01:13:17.000Even some of the higher-end cameras just kind of stopped.
01:13:20.000Even though they could go bigger, they...
01:13:21.000I mean, it's just not as important as when it was, like, from one megapixel to five megapixels.
01:13:26.000Unless you're making, like, billboards or something.
01:13:28.000Unless you're making billboards, or you really are just gonna spend time just cropping out sections of large photos.
01:13:33.000And even that, with such a small device that's in your hand, I would imagine that there's a lot of blur.
01:13:38.000And even if you do crop out little pieces, it's still not going to be like something like if you had a tripod and a DSLR or something like that.
01:13:45.000Yeah, they're saying that the Galaxy S5 is a big improvement too from the Note 3 as far as cameras go.
01:13:52.000You get to a point of saturation where it becomes good enough.
01:13:55.000You remember the time when you bought a computer based on how many gigahertz it had and how fast it was and you needed to upgrade every year?
01:14:02.000And then we reached the point probably five or six years ago when you bought a computer and then it was still perfectly fast enough Four or five years later and you didn't need to upgrade it anymore, right?
01:14:12.000Or when you used to need a bigger and bigger hard drive every single year and then you reach a terabyte and now you're like, well, I can store everything, so I'm done.
01:14:35.000Yeah, at a certain point in time, it's going to be very difficult for one company, like a company like Apple, to compete with the overwhelming amount of companies that are producing Android phones.
01:14:46.000That's the difference between being able to innovate in multiple places versus trying to control everything.
01:14:51.000And you can really see that, too, if you pay attention to the original Android phones and what they are today, as opposed to the original iPhone, which was incredibly innovative.
01:14:59.000The original iPhone is pretty close to what they have today.
01:15:04.000I mean, it was very similar in size, very similar in look.
01:15:08.000Obviously, the resolution got better, the camera got better, it got quicker, it moves better, it has more features.
01:15:14.000But the original Android phones were dogshit!
01:16:08.000There's some things about it where you're just like, why don't they just copy what works?
01:16:13.000The iPhone works, that's the best way to delete applications, whatever.
01:16:17.000So there's a couple things here and there that I don't like.
01:16:19.000What's crazy is that down the line, more that droids started becoming more unpopular, they did start copying everything that iPhone used, and that's why they're in court right now, Samsung versus Apple.
01:16:33.000Just a lot of different things, like the unlock screen, I think, like how you unlock the phone, and just different operating system shit that pretty much they kind of just copied.
01:16:50.000June is supposedly the new iPhone 6, and then they're going to have the giant one, supposedly.
01:16:54.000It's just what they do every year, where they announce it in June, and then it's like the next month they'll have one come out.
01:17:00.000And then the bigger one, I guess, and the only reason why they're waiting a little bit longer is because the panels that they're going to be using in the new phone are back-ordered so much.
01:17:08.000Because when Apple starts selling something new, it's, you know...
01:17:11.000It pretty much just destroys anyone that does that.
01:17:14.000You know, like, we make 5-inch screens.
01:17:15.000Well, yeah, Apple's going to buy 5 million of these.
01:17:34.000An actual Apple website was reviewing the HTC One M8 and they were saying that if Apple built an Android phone, this would be the phone that they built.
01:19:13.000I used to buy them all the time because, you know, those were great to put in your pocket, but nowadays you don't need that.
01:19:19.000Yeah, I have one that I use just for after shows, like where I have people line up and take pictures with them, and then I put it up on my website because it saves time.
01:19:33.000The actual need for them for the average person is almost non-existent.
01:19:38.000Unless you're one of those SLR type people that has a big crazy lens and all that jazz.
01:19:43.000I guess that technology you were talking about, like blurring the foreground, is actually built into the new Android operating system, that whole thing.
01:20:26.000I have to say, I think both of them are great hardware solutions.
01:20:30.000Then you have to really be careful about what software is loaded on them.
01:20:34.000Because depending on which carrier you get it from, they're going to have different quality of software, whether it's the latest KitKat or An earlier version.
01:20:41.000I get my phones unlocked, I wipe them, and I replace the software with my own choices immediately.
01:23:08.000I'm trying to remember because it was quite a while ago, but I remember going in and my kids were playing with one of the things that they...
01:23:14.000Look at this, this article on CIO.com.
01:23:17.000Four things you'll love about HTC One's and four you won't.
01:23:20.000What you won't love about the HTC One M8, duo camera is disappointing.
01:23:25.000The single most unfortunate thing about the HTC One is the camera.
01:23:29.000The device rear-facing four megapixel duo camera with ultra pixel technology.
01:24:27.000Yeah, the Sony Xperia apparently has a pretty dope camera too.
01:24:30.000So I think the reason they're putting two cameras on the back of the phone, which would be interesting, is where you get the ability to shoot 3D directly.
01:24:38.000Because if you think about it, this phone is now wide enough that you can separate the cameras by about as much as your eyes are separated, the focal distance, and then you can shoot direct 3D. Off two cameras.
01:24:51.000Well, do you remember when they had that for a while?
01:24:53.000They had 3D photography on some of those crazy phones.
01:25:30.000The first iteration of a technology is always flaky, but if it's powerful and disruptive enough, then there'll be an incentive to make it better.
01:25:41.000When I used the first iterations of web browsers, they were terrible.
01:25:45.000The first versions of Android, they were terrible.
01:25:54.000I'd rather be on the cutting edge and be dealing with something that's rough around the edges and get to experience the technology as it matures.
01:26:02.000Eventually, it will get to the point where it's as easy to use as an iPad, which is how my mom got on the internet, and Bitcoin will get to that point, too.
01:26:12.000To me, choice is more important than polish, but for other people, they go with the opposite choice, and that's perfectly understandable.
01:26:21.000Yeah, I agree with you in a lot of ways, but I think that there's a similarity to Windows and Apple, you know, as far as, like, Apple phones and, you know, the whole idea of the way Apple locks things down and controls it,
01:26:38.000and Windows, where they don't, and they allow you to get into the registry, they allow you to do a lot of things with your computers that a lot of power users like.
01:26:50.000So, do you think that that could possibly have like a rational effect on Apple's decision to not have Bitcoin wallets outside of the commerce?
01:27:02.000So, as I said, you know, the straightforward one is that it introduces risk in an environment that is deliberately conservative about quality, security, and control over the environment.
01:27:12.000So, they're going to be slow to adopt things that are disruptive.
01:27:17.000And it's also self-serving because it threatens their payment network.
01:27:22.000And it might be self-serving because it also threatens their ability to introduce their own form of digital currency or digital wallet, which there are a lot of rumors that they're in working on that.
01:27:35.000You can take all of those together and it makes sense, but it's not a long-term decision because if there's enough momentum behind digital currencies, eventually they're going to add them.
01:27:46.000Slower than everybody else, but they will get there.
01:27:48.000Have you thought about the future and looked at the technological trends and tried to extrapolate what would be the method for exchanging and controlling Bitcoin in the very near future?
01:28:01.000Is there A better version of what these apps can provide on phones that you believe could be implemented sometime in the near future?
01:28:37.000If you want to understand digital money, You get introduced these terms public key private key encryption address wallet Bitcoin address Transaction all of these are confusing terms because they don't actually mean what they what they what you think they mean so a Bitcoin wallet is It's not actually a wallet,
01:29:02.000It only contains the keys that allow you to unlock the coins.
01:29:04.000The coins are actually on the network.
01:29:06.000And you get into all of these things where you've picked a name, that name evokes a thought, but that thought doesn't quite match what's really happening, so it ends up confusing rather than enlightening, right?
01:29:19.000So a good name is one that tells you how this is going to work, because it evokes the correct paradigm, the correct user interface Design.
01:29:31.000And so we don't have that in Bitcoin yet.
01:30:08.000One, the technology gets smoother and more polished.
01:30:11.000And the words get, at the same time, the culture changes.
01:30:16.000And the culture gradually adopts the terminology so that now people are more comfortable with the weird words and the words have gotten less weird and somewhere in the middle they meet and you get mainstream adoption.
01:30:29.000Are people working on trying to get any sort of a Bitcoin wallet reintroduced into the Apple market?
01:31:55.000So any HTML5 browser, and that's the nice thing about HTML5, it's the new version of the web protocol, and it will run on any browser, on any device, and it will give you a full app-like experience.
01:32:19.000And this is what's exciting about the Bitcoin space for me, which is that we talk about this idea that we're going to convert dollars to Bitcoin.
01:32:28.000Like, if only, say, Amazon adopts Bitcoin, then all of the stuff they're selling through Bitcoin will now be sold through Bitcoin instead of dollars.
01:32:39.000It's like chewing out little parts of the traditional economy and just converting it into a different currency.
01:32:49.000That's a bit like thinking that the internet succeeds when all phone calls happen on the internet and we've taken over the entire fax market and now fax is dominated by internet fax.
01:33:02.000And the whole point is that it made fax irrelevant.
01:33:10.000It gave people better communication tools and different communication tools.
01:33:14.000I'm more interested in what we can do with Bitcoin that can't be done today rather than replacing the things we already do with dollars or Visa and making a better Visa, a better PayPal, a better online shopping experience.
01:33:29.000Within the Bitcoin economy, there's now hundreds of startups and they're hiring people.
01:33:34.000We have a jobs fair in Sunnyvale on May 3rd where we're going to have hundreds of people and dozens of companies with job openings hiring developers and designers and marketing professionals and all kinds of things like that.
01:33:46.000Now, for those who are probably new to this market, a jobs fair is this thing that happened before 2008 Where companies actually had jobs and would come to you in order to find you.
01:34:00.000And we're doing this in Bitcoin because of this incredible spirit of innovation that's been unleashed.
01:34:06.000So if you're an entrepreneur and you look at these rough edges and you look at these difficulties in the system and you look at the fact that it's not ready for mainstream adoption, what you see is opportunity.
01:34:43.000And so at first people said, well, the internet's never gonna succeed because you can't find anything on the internet.
01:34:48.000And smart entrepreneurs took that problem and said, no, if I solve this problem, not only do I make the internet work, but I also create an entirely new industry.
01:34:56.000So right now, Bitcoin is difficult to use.
01:35:01.000If you take, for example, the fact that a Bitcoin address is like a 37-character thing, and it's unreadable, and you hide that, just like we no longer use IP addresses on the internet, we use nice and easy to use names.
01:35:14.000We used to use, you know, 192.168.0.1, and I had a list in my wallet of IP addresses.
01:35:22.000If I wanted to go to the Stanford website, I had to pull out my wallet and look up their IP address.
01:35:28.000And there was no way that was going to go mainstream.
01:35:32.000So each one of these problems, each one of these rough edges is an opportunity to create a whole new industry that does things in a different way, that reinvents financial services and that makes them new and innovative and decentralized and enables things that have never been done before.
01:35:52.000This is not about making a better shopping experience.
01:35:55.000It's about doing things we couldn't do before.
01:35:58.000And eventually, people are going to build wallets that are very easy to use, and wallets that are going to be very beautifully designed.
01:36:05.000And we're beginning to see that now, as all of these startups are rushing in to fill in the gaps, to polish all the rough edges, and to deliver real quality consumer products, so people can take this incredible underlying power of Bitcoin,
01:36:21.000And turn it into an everyday experience that a person who doesn't want to know about any of the geeky stuff, about encryption, about keys, about all of that, simply says, I want to send Joe some money.
01:37:12.000We don't have to build the physical infrastructure because it's already there.
01:37:17.000The internet took a decade and a half to spread in terms of adoption, and one of the big Issues was getting high-speed internet to enough people and then getting fully on all-the-time internet.
01:37:39.000It was impossible to get my mom to do email if she had to first turn on the computer, log on, double-click, start the dial-up, do all of this with her phone that made her phone busy so she couldn't actually use it.
01:38:49.000So this is a feature that was added to the core protocol, the Bitcoin protocol, back in November of 2013, officially, and would work.
01:38:56.000So, when you send Bitcoin to someone, what you're doing is almost like signing a digital check, and you're saying from Joe Rogan's wallet, and you sign at the bottom to say, yes, I'm releasing this money to Redband.
01:39:18.000So what your wallet is doing, what your phone is doing when it's sending Bitcoin to someone, is it signing a transaction with your key to basically say, I authorize this.
01:39:29.000It takes one signature to release the money from your wallet.
01:39:34.000Multisig allows you to build wallets that require multiple signatures.
01:39:38.000Let's say you were running a company, and you wanted to make sure that every single time you made a Bitcoin transaction, it had to be signed by the CEO and the chief financial officer.
01:39:53.000Now you could say, well, it requires two out of two signatures.
01:39:58.000The account has two signatures associated with it.
01:41:10.000Now, if we have a dispute, You call the arbitrator and you say, I'm not happy, I didn't get this product.
01:41:17.000And you and the arbitrator sign and get the refund, send the money back to you.
01:41:22.000But if I'm not satisfied because I really did send you the product and you just don't want to pay for it, I persuade the arbitrator that you're cheating, I sign it with the arbitrator, two out of three signatures, get the money to myself.
01:41:36.000So you can create these complex environments where you can do escrow, you can do trust accounts, you can have third-party arbitration for refunds, so that you can solve problems.
01:41:49.000And you can create more complex forms of transactions that give you better security and better trust.
01:41:55.000That seems like you would really have to trust the arbitrator and they would have to somehow or another not be in cahoots with one party.
01:42:04.000So when you use the Visa network You abide by Visa's arbitration rules, right?
01:42:12.000So if you do a chargeback, and they're going to contact the merchant and say, well, show us a signature from this transaction, and Visa's arbitration rules apply, whether you like it or not.
01:42:21.000When you use eBay, PayPal arbitration rules apply.
01:42:25.000Whether you like it or not, the means of payment determines the rules of arbitration.
01:42:30.000So that seems like a good opportunity for something like...
01:42:47.000What it does is it allows you to say, I'm going to have a market of arbitration providers, all with different rules and different levels of trust, and some of them will have very good reviews.
01:42:59.000Because people had good experiences with them.
01:43:01.000Some of them are specialized in real estate and some of them are specialized in auction markets and some of them are specialized in antiques and some of them are specialized in art appraisal.
01:43:10.000And so I'm doing a transaction with you and I want to buy an antique.
01:43:24.000We agree that's the one we want to use.
01:43:26.000Now it opens up all of these possibilities, and it creates a whole new market for these services.
01:43:31.000So you've taken trust that was centralized in someone like PayPal.
01:43:35.000You didn't have a choice but to use their arbitration.
01:43:38.000And you decentralize it, and now you have a market where the buyer and the seller can decide what rules apply.
01:43:44.000So do you believe that this is very similar to what we were talking about before with banks, that one person just has to do it, start profiting on it, and then the rush will be for all the others to sort of join in on the bandwagon?
01:43:54.000There's already an arbitration market where lawyers and real estate agents and others are providing arbitration services for a small transaction fee, like 0.1% of the transaction, in order to provide escrow capabilities.
01:44:08.000And you can do that when you buy something with Bitcoin.
01:44:23.000Let me give you another example which is really cool.
01:44:25.000A lot of people are worried about their Bitcoin being stolen from their wallets because of a hack.
01:44:31.000So one of the ways you can use multisig, which is very interesting, is to have a two of three account.
01:44:39.000And what I mean by two of three, it means it has three signatures registered, and you require at least two of those three signatures in order to authorize a transaction.
01:44:55.000That's your recovery, in case something goes wrong.
01:44:58.000And then you give the third signature to a service that checks every transaction for risk.
01:45:03.000And what they do is, when you make a payment, they look at the merchant that you paid, they look at their history, they look at what kind of amount it is.
01:45:12.000Is it like $10 and you normally spend that?
01:45:15.000Or did you just suddenly try to transfer half a million dollars out of your account and wipe it clean to a random address they've never seen before?
01:45:22.000Based on that, they're going to risk score it, and then they're going to call you.
01:45:26.000They're going to send you a text message and say, we're seeing a transaction here you've requested for $2,500 to a merchant we've never seen before that you normally don't do.
01:45:49.000You can reintroduce some of the fraud prevention systems that banks do.
01:45:56.000But the really cool thing is, now that's a market.
01:45:59.000Instead of having to do it with your payment provider, you can pick who gives you a risk service.
01:46:06.000That's fascinating, but it's sort of along the same lines of the difference between Apple locking everything down, you know it's secure, you're not going to get a virus from an app, and the wild world of, like...
01:46:21.000Like, say, a perfect example would be like BitTorrent.
01:47:26.000So most of the exchanges or places where you can buy Bitcoin, you can probably buy, like, I think the minimum is $20 or something like that worth.
01:47:39.000Theoretically, you could go and buy a hundred millionth of a Bitcoin if somebody was willing to sell it to you, but usually it's not worth doing for them at that amount.
01:47:48.000So you can divide it as much as you want.
01:47:50.000You do not need to spend an enormous amount.
01:47:53.000And then, again, the thing is, what are you going to use it for?
01:47:56.000If you're going to try and use Bitcoin to invest in Bitcoin, be very, very careful.
01:48:02.000Do not take your retirement fund and all of your savings and dump them into this wild ride.
01:49:55.000You gave me a bunch of your hard drives, I wiped them clean, but I still didn't throw them away because I know that there's programs out there that could just do that.
01:51:29.000In fact, there was this guy who went to a football game with a giant QR code they'd printed.
01:51:35.000And during the ESPN coverage when they were on the Jumbotron, they held it up and it said, pay for my college or something like that.
01:51:42.000They made like two and a half grand or in a matter of minutes because people would see it on TV, take a snapshot and send them a little Bitcoin.
01:51:51.000There's a congressman who went to a recent meeting wearing a sandwich board with a QR code on the front where you could donate Bitcoin to him.
01:53:29.000Yeah, but you can publish that address, and that's Joe Rogan's Bitcoin address right there, and hopefully you can say hello to Joe with money.
01:53:49.000By the way, charity has become one of the dominant forms of payments in Bitcoin.
01:53:57.000A lot of people are doing a lot with charity.
01:54:00.000And it's because you can send money very quickly.
01:54:02.000You can see how the money is being spent.
01:54:05.000There's this fantastic charity that I'd like to mention, which is based in Pensacola, Florida, where they've made it pretty much illegal to be homeless.
01:54:14.000They first banned sleeping outdoors, then they banned blankets.
01:54:18.000And they try to solve the homeless problem by busing them to other cities around and kicking them out of the area.
01:54:48.000So Jason King from Sean's Outpost, seansoutpost.com, started collecting money with Bitcoin and used that money last year in the first year of the charity to feed 60,000 meals to the homeless people of Pensacola,
01:55:17.000BitGive, the BitGive Foundation, which coordinates charitable giving 100 bitcoins, which is a charity that will literally give 100 bitcoins to any charity that wants to take bitcoin.
01:55:29.000They already have, they've raised the money, and now they're trying to find charities to give the money away to.
01:55:33.000How can I... I mean, that was just an image.
01:57:37.000If you click on the receive button, right Ben?
01:57:42.000And then I think it's one of the tabs at the bottom and then The problem is they won't let us make new iPhone applications because it's lagging behind.
01:57:54.000At least they still let me download it, though, because I got a new iPhone the other day and they still let me download the old program off the iTunes store.
01:58:01.000Maybe because you already had it on your iTunes.
01:58:03.000If you already own something, you're still allowed to re-download it somehow.
01:59:03.000I think we should leave the person alone, and it's probably not going to be good to find out who it is, because all it's going to do is smear that person.
02:08:25.000Who would contribute, even if it's a little part of this world, for good of humankind, as Andreas and many other of you end over to make the world a little bit better for everybody,
02:10:45.000Yeah, I mean they basically intruded into his life and violated his privacy and most importantly handled his personal information irresponsibly.
02:10:54.000In the end, the Bitcoin community came through with generosity and grace and charity.
02:10:58.000And that's really the big thing about Bitcoin is there's so much charity going on in this space.
02:13:04.000And the very real physical danger that is implied by first saying that someone has a lot of money, which he doesn't, and inviting all of the crazies to visit his address by publishing it.
02:13:17.000Yeah, they were saying he was worth insane amounts of money, right?
02:13:20.000Like $9 million or something fucking crazy like that?
02:15:52.000And so, I think it's interesting because it's that reusable re-entry capability, which is revolutionary in the way they've done it, is very visionary.
02:16:12.000Or until you can go zoom around a few, you know, hang out there for a day, you know, sit in a luxury suite on the top of the earth and look down.
02:16:21.000You can only go there for like a minute and then you gotta come flying back down again, right?
02:17:37.000Listen, you get a lot of publicity and marketing, and then you take the Bitcoin and you convert it the same day to US dollars, so you don't get any exchange rate risk.
02:18:59.000And this is really funny because, of course, the countries in which these iron fist bans are happening are the countries where the rule of law is least respected.
02:19:30.000And then the army generals, and then the cops, and then all of the people who in those countries are above the law.
02:19:35.000And then the people who are below the law then bribe the people who are above the law, in dollars, of course, to also hold dollars, and the whole thing becomes a mockery.
02:19:45.000Putin is like a gigantic Russian version of John Gotti.
02:20:28.000They'd point to their chin because his name was Vincent the Chin Giganti or Giganti or whatever the hell it was.
02:20:33.000But then Gotti came along and was wearing fucking...
02:20:37.000$10,000 suits and, you know, was an obvious mobster and had obvious mobsters with him and there was public hits and all this crazy shit and everybody loved him because he was the face of the mob.
02:20:49.000This Putin guy is sort of like that in a way but on a crazier scale because he's running a whole country.
02:20:55.000I mean he's essentially just grabbed the whole country.
02:21:14.000So basically they've nationalized the gas industry.
02:21:16.000The gas industry then supplies natural gas, which is one of the ways that we've avoided the impact of peak oil and energy constriction that is killing worldwide economies right now because oil has gotten vastly expensive.
02:21:31.000But gas got cheaper because of fracking and other things.
02:21:34.000And gas problem produces most of the gas in the world, so much so that That they supply all of Europe with natural gas.
02:21:40.000And they supply them through pipelines that go through which country?
02:22:46.000Its navy is getting larger and larger by the day.
02:22:48.000And they're changing their whole policy as far as how they deal with other countries because China is encroaching on a lot of these islands that Japan has been controlling.
02:22:58.000And it seems to me like more and more every day that powers are moving into position to dominate portions of the world and it just seems like some shit is about to happen.
02:23:09.000The era of cheap energy is over and the world has to reshuffle to accept that fact.
02:23:19.000You can't sustain the same consumerist behavior in developed countries and that, together with climate change, it's a combination that creates upheaval all around the world.
02:23:32.000At the same time, you have the world's worst currency crisis in three generations.
02:23:38.000We are currently living through the most significant currency crisis, with dozens of countries suffering from hyperinflation, with their currencies about to collapse, Europe and the euro hanging from a thread, the British sterling hanging from a thread, and the US dollar going crazy with printing.
02:23:55.000Into that environment, You now have Bitcoin.
02:23:59.000It's a really interesting time to live in because there's so much change going on.
02:24:03.000Is it an escort service that accepts Bitcoin?
02:24:23.000So I'm glad we didn't get very far with a conversation about empowering the poor and discussions about the good Bitcoin can do before Brian dumped us into an escort site.
02:25:07.000All the money flows to the men who control and exploit them, right?
02:25:13.000And so Bitcoin is being used already in many cases for women to be able to keep control of their money so it can't be stolen by pimps and exploited boyfriends.
02:25:27.000And hustlers and all of the other criminals who are around them who take advantage of these women.
02:25:31.000So actually it is quite an empowering technology even in that particular occupation or related occupations.
02:25:38.000I was having this conversation on Twitter and people were teasing me so I did a A satirical shot.
02:25:46.000I said, look, I'm going to start the same business.
02:25:48.000I'm going to post a half-naked shot of me and I'm going to make people pay me to stop because I'm a pasty middle-aged male and nobody wants to see that shit.
02:26:00.000And I'm going to donate all of the money that I raise.
02:26:14.000But I raised and I'm pretty proud of that photo because I ridiculed and exploited myself and raised $600 which I donated to the Rape and Incest National Network which is a network that helps exploited women.
02:26:26.000I extract themselves from the abusive environments and gives them shelter.
02:26:30.000Essentially, it's like an underground railroad to get them away from people who are exploiting them or abusing them badly.
02:26:39.000You know, one of the things that we've talked about on this podcast before and I think applies here is that there's a certain morality to a lot of these big tech companies and to tech in general that I don't think exists in a lot of other industries.
02:26:53.000And that there's a lot of companies that are coming up now, tech companies, that are founded by very intelligent, very educated people who also have pretty strong ethics.
02:27:02.000And I think that's rare for businesses to have a fairly established trend.
02:27:09.000Of ethical consideration involved in their business practices.
02:27:12.000And one of the reasons why, I think, is because no one understands transparency more than people that are really into the internet.
02:27:18.000No one understands the implications or the ramifications, rather, of your actions, whether positive or negative, more than people that are on the internet.
02:27:47.000I was doing some research about the IP thing, because that's the only thing I did have.
02:27:51.000But there is some people saying that you could find the IP if you were devoted to it.
02:27:55.000Meaning, if I really wanted to find out what your IP address is using the Bitcoin currency, I could just probably figure it out if I was really detailed about it.
02:29:02.000D-O-R-I-A-N. Do you know who Dan Kaminsky is?
02:29:09.000Chief scientist for DKH. He wrote in 2011 that you could do that.
02:29:19.000And that's what I was basing my findings on.
02:29:24.000He said that Unless you're very careful in the way you use Bitcoin and you have the technical know-how to use it with other anonymizing technologies like Tor or I2P, you should assume that a persistent, motivated attacker will be able to associate your IP address with your Bitcoin transactions.
02:29:48.000Yeah, and they're not associating the IP address, the Bitcoin address, because it's in the network.
02:29:54.000What we're talking about there is a determined attacker who's conducting surveillance of the entire network and has the resources to track down what's happening.
02:30:05.000People say that Bitcoin is anonymous, but in fact it's not.
02:30:08.000It's pseudonymous and loosely pseudonymous.
02:30:10.000That means that if you conduct activities with Bitcoin that associate your Bitcoin address to other things, like for example, you use it to buy something and then that something gets shipped to your home, well now you tied that Bitcoin address to your physical address.
02:30:29.000Or I have a donation address that I publish.
02:30:35.000Now if I take money from that Bitcoin address, which is my donation address, and I move it into my wallet that I use to spend on other things, now everyone can track that step by step and know, well, that's my wallet.
02:30:46.000And then track everything that goes out of that wallet.
02:30:49.000So I have to take some basic privacy precautions to protect against that.
02:30:56.000It's kind of like an account number, I guess, like at a bank, like you said.
02:30:59.000Now, is there technology or is there hackers that can take knowing your account number and recreate it in a program that makes it seem like you are that person and transfer money out of that account?
02:31:13.000No, because the address itself is essentially one part of an encryption key, and the other part of the pair of keys, the private key, is the thing you have on your phone wallet.
02:31:46.000That technology is the same technology that's used to secure bank networks.
02:31:50.000It's the same technology that's used to secure tomahawk missiles.
02:31:53.000It's the same technology that's used to secure everything.
02:31:59.000You can rest assured that the cryptography at the core of Bitcoin is solid because it's used across all of the other industries.
02:32:08.000So you'd be better off like, hey, you want to charge my phone on your laptop, and then you just download their phone and then re-upload it on your phone, and then you have their wallet.
02:32:16.000You should provide criminal masterminds with a blueprint.
02:32:21.000So that's why you have a password on that application, so that if you steal the data of that application, it's encrypted, and you can't see the keys that are underneath.
02:32:29.000That's what the PIN number and password do.
02:32:31.000And I have a secondary password that also prevents from spending, specifically for spending.
02:32:47.000I mean, you're very, very informative.
02:32:48.000We would never be this educated about this stuff if it wasn't for you.
02:32:52.000And I think you do a huge service to not just the tech community with this, but just the general population, giving them an understanding of what this is all about.
02:32:59.000There's so much misinformation and confusion about it.
02:33:03.000I mean, we had, just Brian and I, two fucking dunces sitting there staring at each other trying to figure out what it was before you came along.
02:33:37.000What I'm doing is I'm just expressing my enthusiasm for this space.
02:33:40.000Let me tell you a couple of quick stories about why this was awesome.
02:33:45.000After the first Joe Rogan experience, suddenly I had people everywhere coming and telling me That they got into Bitcoin because of that first show, because they finally were able to understand it.
02:36:04.000Not having all those sort of like ladders and steps that you have to climb to put content out is really what it's all about in a way that sort of mirrors what Bitcoin is.
02:36:14.000It's cutting out all the steps that are unnecessary between human beings interacting with each other, whether it's exchanging money or exchanging ideas and information.
02:36:24.000It's essentially, it's a lot of it is along the same trend and it's all along the same lines.
02:36:28.000Yeah, let's get you selling your products on Onnit and the other sites with Bitcoin.