Impaulsive with Logan Paul - E250 What Is Bitcoin & How Does It Work？ (w⧸ Andrei Jikh)

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00:02:12.320 You are literally taking more risk right now not owning Bitcoin than having it.

00:02:17.120 Oh my God.

00:02:18.080 Like not having it is screwing you more than having it.

00:02:21.000 That's an insane statement.

00:02:23.000 Yeah.

00:02:29.320 just to see that building overrun uh it's it's it's deeply symbolic and obviously we've seen

00:02:36.300 we've seen other stuff like that this year with with the blm protests we've seen buildings burning

00:02:41.280 but to see the the capital of the united states um overrun is a very moving site and a very

00:02:50.960 disturbing site and i think it's indicative of uh how serious this has gotten in the country and i

00:02:57.060 think there was a lot of time this year where people were like oh this is uh sentiment right

00:03:01.600 this is no longer sentiment there are there are uh not not to not to make fun or or even discount

00:03:09.440 how serious this is the shit stains of this country have taken our capitol building these

00:03:13.980 are these are the inbred redneck fucks of america and i'm not talking about the right as a whole a

00:03:20.300 tiny percentage of the fringe right right similar to the tiny percentage of the fringe left that

00:03:24.940 destroyed buildings during the blm protest right this is fucked this is fucked and is disturbing

00:03:31.120 and i got off the phone with my brother-in-law just now who has been deployed multiple times

00:03:36.340 to defend this country and he is almost in tears over this right it's disgusting and we have and

00:03:43.620 now and now what we've also seen is um trump has taken aim at mike pence so the pence trump

00:03:50.280 relationship has era has come to an end it looks like uh pence is ordering these people to stand

00:03:56.940 down and to leave the the capitol building and to and to act uh responsibly trump will not make

00:04:03.340 the same tweet and this all started because they tried to so so so what's happening right now is

00:04:09.740 today was i believe the day that the electoral college votes were being counted and it was not

00:04:14.320 well so the georgia runoff happened last night but long story short this is all happening

00:04:20.260 during the time of this final decision-making around who will be the next president of the

00:04:25.260 United States. Obviously, we know that the elected president is going to be Biden.

00:04:29.500 Trump has repeatedly claimed fraudulent election, what is now being looked at as a conspiracy

00:04:38.880 theory. Was the election perfect? Absolutely not. Was there problems with voting machines? Maybe.

00:04:45.180 But the Supreme Court has said there's not enough here. The state courts have said there's not

00:04:49.160 enough here and that there is a president elect now what you're seeing is uh trump's continued

00:04:56.860 fiery rhetoric compelling these people to storm our fucking federal buildings a crime which he

00:05:05.800 tweeted a couple months ago would be punishable by 10 years in prison when it was done to statues

00:05:11.460 i remember that yeah and so now you know the question will be will he have that same fiery

00:05:16.380 rhetoric towards the people who have now stormed assaulted police officers i want to make it clear

00:05:23.340 i condemned any kind of violence at blm timing too if you if you broke into buildings if you

00:05:28.860 assaulted cops during the blm protest you're a piece of fucking shit you are a piece of shit

00:05:34.100 i'm sorry and if you're doing it today you're a piece of shit and so a lot a lot of good people

00:05:39.180 are condemning this completely but it's just it's a it's a scary time and 2021 not not off to the

00:05:46.100 best start fuck you know to put it lightly fuck i mean yeah you know we didn't want to start on

00:05:55.960 such a heavy uh note andre we apologize by the way welcome to evulsive the number one podcast

00:06:04.400 in the world i got an intro for you i'll read it here shortly but um yeah it is it is tough when

00:06:08.980 the the world around you is uh at this particular moment quite literally falling right it's it so

00:06:15.800 we wanted to address it and uh it is it it is sad i i am so optimistic for the day where um we can

00:06:23.800 get past this nonsense and america once again becomes united it's just it's just honestly it's

00:06:29.960 just and i know there's two sides and i know that me even talking about it will piss people off but

00:06:34.920 like it's just it regardless of what side you're on right now this is just embarrassing for us the

00:06:41.660 The world is watching and laughing and looking at a very weakened America.

00:06:47.480 We are weaker than we've ever been before since maybe the Civil War.

00:06:51.560 Everyone is mad.

00:06:52.680 Everyone is divided.

00:06:54.200 And it's just a really disgusting time.

00:06:56.020 And honestly, if your only hope is not that we start to remedy this divide, then you are un-American.

00:07:06.760 You are not a real American.

00:07:07.760 The only thing I want deep in my core is for this to stop, for this embarrassing era of American history to come to an end and for us to start to heal as a country.

00:07:18.460 And if that is not your only hope here, then we've got a bigger issue than it seems.

00:07:24.280 Yeah.

00:07:24.940 Well said.

00:07:25.540 Well said.

00:07:26.240 All right.

00:07:26.940 Well, OK, let's let's hit the reset button.

00:07:30.040 Let's Kanye West.

00:07:31.520 Fuck Jeffree Star.

00:07:33.100 No, I don't think so.

00:07:34.180 I think so.

00:07:34.960 Kanye West.

00:07:35.800 It's not true.

00:07:37.140 How do you know, Dylan?

00:07:38.260 I have a very specific gossip.

00:07:40.320 Dylan, how the fuck would you know

00:07:41.760 whether or not Jeffree Star sucked off Kanye West?

00:07:44.580 It didn't happen, and now Virgil Abloh either.

00:07:46.500 Apparently, that's a rumor, too.

00:07:47.640 So he's just making up who his dick he's sucking?

00:07:49.880 Apparently, that was a rumor that him and Virgil...

00:07:51.900 He always has a lot of off-line shit.

00:07:53.840 No, it's not true.

00:07:55.400 Why are you guys in uniform?

00:07:56.680 That's what I was wanting to know.

00:07:58.980 Was this planned?

00:08:00.880 How can we see this?

00:08:03.260 Why are you guys both wearing

00:08:04.300 bright yellow Tyson Ranch t-shirts?

00:08:06.700 oh okay okay okay i got you all right well we're gonna we're gonna try to uh wow i i can almost

00:08:16.200 guarantee that was the worst camera movement anyone has ever seen shout out mike okay so

00:08:21.380 we're gonna try to one-up the tyson podcast today guys with over a million subscribers on youtube

00:08:26.840 our guest today is committed to the magic of finance and helping you on your financial journey

00:08:31.840 he was also the lead cardistry expert and now you see me too it's andre jick

00:08:37.660 thank you thank you your microphone looks abnormally high it does let me lower it you

00:08:45.520 can maybe you could even just tilt it down the top and then it will yeah yeah there we go so

00:08:50.020 look dude we're called impulsive for a reason uh kind of scatterbrained a little adhd all over the

00:08:55.880 place but uh we brought you and you flew in today from vegas yeah right to come on this podcast

00:09:00.680 landed yeah okay and you came right to this house yeah amazing bro amazing thanks for having me yeah

00:09:05.320 of course thanks for uh uh wasting your time and coming and it's so we should preface to it spawned

00:09:10.540 out of uh our last episode and just the current happenings of this past week which has been a

00:09:15.680 further bitcoin and and uh crypto boom spurred by this institutional buying that's happened over the

00:09:23.380 past you know few weeks or month or whatever you want to call it yeah and we we were on this rampage

00:09:28.360 we're like dude we got to find somebody to talk to and here you are yeah a lot a lot of people

00:09:31.680 recommended you oh really yeah yeah and our comments yeah you had a lot of how wrong they

00:09:35.380 were so okay so let's talk you got you got the shirt bro you got the shirt why you why you downplay

00:09:41.740 yourself like you're it's just a shirt it says bitcoin on it premium playing cards right okay

00:09:48.440 all right but you you came into the house and you're like you know i don't know why i'm here

00:09:53.320 yeah i don't know why you brought me up that's not i'm not an expert yes you are all right i'm

00:09:57.860 an expert you are an expert i told him you might have said the classic i'm not an expert like don't

00:10:03.960 rely on me for fiscal responsibility is that why you say it a little bit of that okay okay yeah what

00:10:09.560 why are you are you or are you not an expert like what is your where where does this come from were

00:10:14.760 you into finance before crypto yeah so i came when i was nine years old to america from russia

00:10:20.140 and my parents were uh circus acrobats so they were performers and you followed in their footsteps

00:10:25.680 yeah i was a circus kid but every performer sucks at money like they make good money but they don't

00:10:32.020 know how to manage it right so my whole life i was growing up and i was like what do what do i do

00:10:36.260 with money like i don't want to be like my parents because when they came here they didn't know what

00:10:38.980 credit cards were they didn't know what investing accounts were so i was like i don't want to be

00:10:44.400 like them so i started to learn magic because my dad showed me a magic trick and uh i was so like

00:10:51.100 left field like i don't want to be like them anyway it's magic yeah seems like you went

00:10:57.520 straight to that direction man basically opening act now not talented like my parents were and i

00:11:03.040 wasn't so yeah and eventually i got the role for uh now you see me where i taught the cast for in

00:11:08.920 for two weeks in london it was super are you responsible for that one scene the white lab

00:11:13.460 scene yes where they hide the card behind their hand and yeah so john chu the director and i we

00:11:18.800 kind of worked on that for a couple months and yeah it took two weeks to shoot that that one

00:11:24.260 scene took two weeks two weeks to shoot it yeah that scene has been watched so many times yeah

00:11:29.340 that scene is insane it's also you you recreating it is your most viewed video on youtube yeah yeah

00:11:35.100 25 million views i won't play here but that's that's crazy but why did that scene take two

00:11:39.660 weeks to shoot because we taught the actors how to do everything in that scene for real oh

00:11:44.900 oh we literally taught them step by step how to throw cards how to palm it how to do everything

00:11:50.280 okay very cool and so and so you are an expert right we can we can do it later but i want to

00:11:54.940 have you throw a card at a can you cut a banana in half it theoretically but i haven't done it

00:11:58.960 in so long but i mean i could try but you're you like sleight of hand okay all right cool so we'll

00:12:04.100 show you some stuff man and many talents yeah and and for some reason i'm like slightly not

00:12:08.780 surprised that the bitcoin expert is also a closet magician yeah do you know what it's like

00:12:15.000 like and so that's what i want to try to combat today is this idea that bitcoin is fugazi yeah

00:12:20.880 yeah now you see it yeah 17 000 17 000 35 000 yeah but also it's not backed by anything except

00:12:27.260 for mind to data like what the fuck is bitcoin what the fuck is bitcoin andre what the kind

00:12:32.860 to ask is like what is bitcoin yeah if you figure it out let me know no but okay so man where do i

00:12:40.260 start so in 1964 there was this physicist he's a russian physicist named nikolai nikolai i forget

00:12:47.520 kardashiev yeah right yeah and vladimir vladimir which is literally my middle name right yeah so

00:12:54.960 nikolai kardashiev right so he created kardashiev oh my god i thought he said kardashiev

00:12:59.880 And I go, that's how they get the money out.

00:13:03.300 Kardashev.

00:13:03.740 Okay.

00:13:04.000 Yeah, yeah, yeah.

00:13:04.560 So he created three types of classifications to try to, like, if we look for alien races out there on the planets, how do we find them, right?

00:13:12.040 And we would find them by trying to find their energy output, right?

00:13:16.020 So the more advanced they are, the more energy they use.

00:13:18.480 And so he created three types of different civilizations.

00:13:21.360 There's type 1, type 2, and type 3.

00:13:22.780 so type one is called a planetary civilization which is more of uh uh an interplanetary

00:13:29.280 civilization that focuses on getting its energy from the sun from its planet they control the

00:13:34.140 weather earthquakes volcanoes they can stop anything they want that's a type one there's a

00:13:38.500 type two which is uh galactic or it's not a galactic one it's a interstellar it's a stellar

00:13:44.300 planetary uh civilization and so what that is it's uh they use just this have you heard of the

00:13:50.300 dyson sphere no is that a vacuum cleaner yeah yeah yeah yeah that's so good i hate both of you

00:13:58.320 guys have you heard of it no i didn't but i didn't hear the vacuum so that's why i'm actually

00:14:03.220 kind of upset because the only thing i related to right now was the fucking vacuum dyson sphere

00:14:08.200 yeah yeah so so it's like this these metal things that float around the earth okay or this actually

00:14:14.020 the sun okay where it tries to mine the energy from the sun right and so once the civilization

00:14:18.320 reaches type two it goes immortal and so it's it can't be killed because they go to other planets

00:14:24.980 okay so that species can't really be wiped out does that make sense yeah sure they go to other

00:14:29.240 planets sure it's hard to fully grasp what you're saying this dyson sphere is a hypothetical

00:14:36.080 megastructure that completely encompasses a star and captures a large percentage of its power

00:14:40.640 okay so what could type three yeah that's all i can think about right now herpes yeah it's

00:14:47.420 You're actually immortal on your cock.

00:14:49.160 It just, you just fucking.

00:14:51.120 Stays with you.

00:14:52.440 I'm excited.

00:14:53.160 I'll get you to know, man.

00:14:54.160 Tell me.

00:14:54.720 So type three is Star Wars, right?

00:14:56.640 Where they're galactic.

00:14:57.980 They could travel to different galaxies.

00:15:01.060 Holy shit.

00:15:02.160 That is type three.

00:15:02.800 So what's Bitcoin, man?

00:15:04.500 So we.

00:15:08.620 So we.

00:15:09.620 How do I pay at Walmart with this?

00:15:12.180 They're like, sir, your total is $36.72.

00:15:14.880 You don't understand.

00:15:15.440 For your Dyson vacuum cleaner.

00:15:17.420 How would you like to pay?

00:15:18.460 I'm like, I'm from the Dyson sphere.

00:15:20.540 You don't understand.

00:15:22.900 I'm type three.

00:15:24.600 Hey, you guys brought an expert about Bitcoin.

00:15:27.600 No.

00:15:30.760 He's obviously an expert on a lot of things.

00:15:33.940 I thought he was going to start with Satoshi Nakamoto.

00:15:36.720 But clearly it started way before.

00:15:38.540 No, we're going to go meta.

00:15:39.640 Okay, you are clearly.

00:15:41.060 So get us to 2000.

00:15:42.020 So you got magic tricks.

00:15:43.760 We know Star Wars.

00:15:45.740 Get us to 2009.

00:15:47.420 maybe we chill out let him explain yeah okay all right so dyson yeah yeah okay so type three star

00:15:52.460 wars right okay where they're galactic and they could travel different galaxies on this scale we

00:15:57.480 are zero right oh because we get our energy from dead plants and coal and our energy is brought to

00:16:03.880 you by exxon mobil fucking novice right novice yeah okay we're noobs yeah we're like 0.7 theoretically

00:16:10.020 okay we did invent the wheel so let's chill out we're getting there sorry sorry and one one was

00:16:15.100 able to garner their energy from the stars uh from the from its host star but it gathers it from

00:16:21.400 yeah from the sun would that mean that solar is our first step to becoming type one let's

00:16:26.840 fucking go so so we are seeing we are seeing evidence every day when we wake up that we are

00:16:32.520 becoming a type one civilization so for example type one language is english right because it's

00:16:37.940 a it's a language that's spoken all around the world as a second language pretty much

00:16:41.220 So that is a type one civilization's form of language.

00:16:44.780 Our entertainment, our education, those are social medias now.

00:16:49.200 We're connected by Facebook, YouTube, TikTok, Instagram, all those.

00:16:53.500 We are connected together with our...

00:16:58.900 Is it just my face?

00:17:02.160 How I look?

00:17:03.120 It's funny to you?

00:17:04.140 I think it looks funny too.

00:17:05.640 I do too.

00:17:06.720 It's literally my trademark.

00:17:09.020 Jeff, why are you clapping?

00:17:10.140 there's no need for the applause it was funny but i don't think he had to do an ovation for it

00:17:14.720 stood up out of his seat he's like finally someone said something and it was the expert

00:17:20.620 all right go ahead yeah yeah so the type one's form of money that we have right now is the next

00:17:26.520 biggest step got it so so the transition between zero to one is literally the most dangerous

00:17:31.100 transition that a society can go through because maybe that's the reason why we're not finding

00:17:37.500 intelligent life out there on earth because they just self-destruct by that time because what

00:17:41.740 happens with type one is all this technology and information becomes what's called democratized

00:17:47.060 right like everyone has access to any kind of information weaponry anything else so imagine

00:17:52.340 if like a radicalized country gets a hold of how to build an atom bomb probably happens not good

00:17:57.140 but it is happening but it's literally happening right now oh so in the next 90 to 100 years

00:18:02.900 that's going to be our transition to a type one and the next phase is probably going to be the

00:18:07.760 most important phase of our lifetime which is a type one money because that's what it's all about

00:18:12.400 does that make sense i see what you're doing before we go too far into the rollover to type

00:18:19.300 one because i'm sure we won't get back to this to type two and type three yeah yeah would the

00:18:23.540 transition from type one to be to type two and three be transforming it from english to math

00:18:29.340 so that you could have conversation with other not necessarily no no no no no it's just a

00:18:34.780 planetary language for us because it's spoken by everybody got it but i could see how math

00:18:39.640 might be a type 3 language because math is universal across the universe that's what i'm

00:18:42.900 saying yeah that's how we communicated when we sent out the probe with the gold disc it was just

00:18:46.360 our music or math right we're like hey here's where we're located and we literally use math

00:18:50.600 to try to right yeah so it might be that's good okay all right so let's get back to crypto go

00:18:54.420 But anyway, so yeah, type one civilization's form of money is we think it's going to be crypto because it's like money for the world.

00:19:01.020 Because every time you travel, you have to get like different currencies, right?

00:19:03.740 There's like the yen, there's a ruble, and it sucks to have to convert your money.

00:19:07.900 So imagine that we have access to a money that is global all across the world for everyone to use.

00:19:13.600 So for the first time in human history, we have control over money.

00:19:17.800 Because like if you ask like what is money at the end of the day is influence, right?

00:19:21.660 That's all it is.

00:19:22.640 Money is influence and power.

00:19:24.420 And for thousands of years, that power has belonged exclusively to the elite and to the governments of the world.

00:19:31.060 Right. So it's a it's a the words I've been hearing are decentralized currency.

00:19:36.960 Nice. I haven't got there yet.

00:19:38.880 OK, OK. So I go on your face, though.

00:19:42.820 Illuminati. Oh, shit. Are we doing that?

00:19:45.080 No, I'm kidding. I'm kidding. No, we can't.

00:19:46.640 No, let's not go there right now. As long as you don't try to tell me that that's who stole the election.

00:19:50.020 yeah so finally we have control over our money for the first time it's a money that is democratized

00:19:58.900 that is made by the people for the people that is governed by the laws of mathematics that is

00:20:03.900 owned by literally nobody and that's why they say it's decentralized because you cannot shut it down

00:20:09.760 it's literally like the internet right now the pandora's box has been opened and now it's like

00:20:13.780 how do you shut it down you can't because there's no off switch you cannot turn off the internet

00:20:18.100 right now unless we had like a solar flare or something where electricity just got fucked right

00:20:22.780 gotcha but as far as what bitcoin is you cannot turn it off it just is now and so it's a it's a

00:20:29.060 money that for the first time in human history has not had to ask for permission to exist from

00:20:33.980 our government because paypal tried to do that originally they wanted to create their own money

00:20:38.560 and the government shut them down they're like no screw you we're not giving up control why did that

00:20:42.760 not work but crypto is because the government can shut down a company or a ceo and throw them in

00:20:48.260 jail a company has cryptocurrency has no it has no owner it has no central point of failure that's

00:20:54.800 why they say it's decentralized we don't know who who invented bitcoin not really we have i hear

00:21:00.740 this name who's this who's this guy so so this satoshi nakamoto which was so the whole crypto

00:21:04.840 network was launched in 2009 right and it was under the pseudonym this fake name of satoshi

00:21:09.580 nakamoto but we think it's a either a a dude or a group of people that were really smart that just

00:21:15.120 put this together there's a few identities who we think we you know he is but you can just google

00:21:20.000 it and you'll find who they are okay but it's like really debated and contested so then who's

00:21:24.120 this guy so that's a dude who i think people thought it was dorian yeah he's a dude who lives

00:21:30.220 in california i think actually they all start going up there like satoshi thank you so much

00:21:34.740 He's like, dude, I just moped.

00:21:36.280 No, no.

00:21:36.820 My name's Fred.

00:21:38.360 Who are you guys?

00:21:39.340 Dude, somebody literally asked that guy.

00:21:40.700 I was like, are you Satoshi Nakamoto?

00:21:42.100 And he's like, I'm not involved in that project.

00:21:44.260 I haven't been in a while.

00:21:45.120 And apparently he was like a government contractor.

00:21:47.400 And so when this came out publicly and the media just like attacked him, they're like, holy shit, are you Satoshi?

00:21:53.800 He's like, no, no, no.

00:21:54.760 I misunderstood the question.

00:21:56.620 He's like, I thought you were talking to me about my government secret projects.

00:21:58.980 No, I wasn't talking about that.

00:22:00.400 So he totally denied it.

00:22:02.280 And then something happened with Bitcoin where on some website that hadn't been active for forever was like, I am not Dorian Nakamoto.

00:22:10.880 So it's like whoever's behind it was like, no, this guy's not it.

00:22:14.940 This is all scary.

00:22:15.880 Or that was him just being like, I need this guy to go.

00:22:17.840 Literally, it could have been that.

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00:23:35.840 slash logan back to

00:23:37.760 the program I have a question for you

00:23:39.820 now you're saying that it's controlled

00:23:41.720 by the people yeah what happens

00:23:43.940 when like taxes get involved because like

00:23:45.640 the only thing that I'm sure of is I pay taxes

00:23:47.740 and I'm gonna die so like

00:23:49.380 at what point is the government's going to get involved and be like dude that's the only two

00:23:53.520 like you know what i mean like even religious people are like dude taxes and bitcoin are the

00:23:57.260 best thing ever because the way our taxes work right now is we have no real say over where they

00:24:03.160 like where our tax money goes and so imagine with the use of blockchain which we'll get into in a

00:24:08.200 second like what that is but i guess we can get into it now so so how blockchain works right because

00:24:12.900 so bitcoin is based on something called blockchain technology which is basically like so imagine if

00:24:18.540 you sent me a bitcoin or i sent you one right our little transaction gets put into what's called a

00:24:24.100 block a ledger yeah but imagine like a rubik's cube okay like literally a rubik's cube right

00:24:28.740 but it's a small size it can only fit so many little transactions before there's a new block

00:24:34.340 that has to be made but so all these transactions fit in the side of this rubik's cube and you as a

00:24:39.600 miner who has basically this this person with a computer who's solving these equations right

00:24:44.420 And the reason you're incentivized to do that is because once you solve the little Rubik's cube, those transactions that you and I had sent between each other, they get confirmed or like verified.

00:24:56.600 They're official.

00:24:57.780 And that's every 10 minutes that these Rubik's cubes get solved.

00:25:01.720 And then they move on to the next block.

00:25:04.000 These blocks are one megabyte in size.

00:25:06.520 So they can only contain so many transactions before we have to move on to the next one and to the next one and to the next one.

00:25:11.860 And so that's how our transactions get verified.

00:25:14.420 and so anyone can participate in the network and be a miner and try to solve these and whoever's

00:25:19.360 computer is more powerful they get the majority of the reward so okay so stop right there with

00:25:24.300 that statement okay does that make sense does everything make sense no no yes okay let's make

00:25:29.360 well yes but no i'm gonna go ahead and say i don't understand at all because even if everything was

00:25:34.440 yeah bitcoin now yeah i'd still think in my like experience with money yeah whoever has the most

00:25:40.180 of it is in control well hold on so i haven't gotten to the to like the tax part yet so yeah

00:25:44.180 okay so it's decentralized in a way where everyone can participate in the network right

00:25:48.420 it's kind of like torrenting where like when you torrent a movie not one real person really has

00:25:54.300 the whole movie it's like it's taking bits and pieces from everybody okay does that make sense

00:25:58.140 yep and so bitcoin has this like public ledger that you said where every transaction and any

00:26:02.720 action that happens on the blockchain is recorded on a public ledger that anyone can see what's

00:26:07.280 going on so the governments actually love bitcoin because it's what's called pseudo anonymous it's

00:26:14.340 not really anonymous meaning if the government wanted to track what you were doing they could

00:26:19.800 they could see where the code is going into which wallet right so it's pseudo anonymous the beautiful

00:26:26.060 part about that though is if we transitioned our tax system onto the blockchain we would literally

00:26:31.480 see where our governments moved money does that make sense yeah that imagine like senators like

00:26:38.280 the georgia senate runoff elections we just had where we could track hey where does this dude get

00:26:43.000 his money from which companies how much this is this is all just there's a lot we've just talked

00:26:50.440 about so much just want to slow down for a second it's all very scary stuff that's amazing it's

00:26:56.040 amazing and i agree with you but you made a statement that was uh whoever has the most

00:26:59.780 powerful computer controls the most whatever like or like um this whole idea that cryptocurrency

00:27:06.300 is decentralized and and sticks it back to the powers that be yeah yeah right what if

00:27:12.120 all of the magicians torrent nerds redditors uh you know all of these people work for 10 years

00:27:24.160 20 years to create a perfect new global currency only to have government pass one law that says

00:27:31.880 yo that's all ours now that we now control that's the beautiful part i get and i get it and i know

00:27:36.760 and and this is just me playing an advocate here no no i got a great answer for that okay okay go

00:27:41.240 yeah so so the answer to that question is no government can ban it successfully because where

00:27:47.200 one country fails at accepting it if the u.s is like fuck crypto you're gonna go to jail

00:27:54.160 Switzerland is going to be like, come right on in.

00:27:56.480 I'm not as worried about.

00:27:57.560 Does that make sense?

00:27:58.080 Why?

00:27:58.460 Why?

00:27:58.700 Why?

00:27:58.980 Because they want their businesses to be built in that country.

00:28:01.360 They're like, oh, economic power, more for us.

00:28:03.520 Great.

00:28:04.100 You fucked up the opportunity.

00:28:05.400 Now we're going to build it in our country.

00:28:06.920 So the whole world cannot systematically ban it because where one country doesn't want it,

00:28:12.480 10 others will be like, please come to us.

00:28:14.620 What about when the entire ecosystem becomes decentralized, where that money is equal in

00:28:21.800 weight in any country and now country one country now you have a ban that is a global ban essentially

00:28:27.320 it won't happen countries compete with each other for economic dominance and so one country if they

00:28:34.080 ban it another country be like well if you don't want these trillions of potential dollars of

00:28:39.900 business like growth yeah we'll have it okay so it'll never happen what about just taking them

00:28:46.160 they can't take them if as long as you have your private key which is this like string of numbers

00:28:51.780 which you could literally memorize in your head

00:28:54.060 I mean it would be really hard to but you write them down

00:28:56.040 on a piece of paper you hide them somewhere

00:28:57.680 and as long as you have that number

00:28:59.480 there is no physical wallet that you could have

00:29:02.160 that if you lost or was destroyed

00:29:03.880 that you couldn't recover your Bitcoin from

00:29:06.080 the blockchain

00:29:06.600 What about hackers? And what happens if you

00:29:09.980 lose that number or that number

00:29:11.540 Then it's gone forever

00:29:12.580 So this

00:29:15.920 So this could really

00:29:17.580 fucking murder you

00:29:18.720 I got it, I got it

00:29:20.600 wait so so the solution to that that we're working on right now and by we i don't mean like me and my

00:29:26.540 team yeah i don't mean like we but like people that are way smarter than me they're working on

00:29:31.640 biometric identification right it's like your thumbprint oh right cool so it's like it'll be

00:29:36.480 attached to your identity somehow okay so instead of a long ass string of numbers it'll be like yeah

00:29:41.500 just put your thumb right here yeah because i know some people who have gotten fucked yeah like

00:29:45.120 lost their key or hacked or compromised via uh some sort of so there's a difference between

00:29:50.920 leaving your money on the blockchain and leaving your money on an exchange like coinbase or gemini

00:29:56.600 okay because hackers can hack the exchanges but they can't hack blockchain they've tried

00:30:03.820 for 12 years now 13 years almost give it time there is literally hundreds of billions of dollars

00:30:11.560 at stake that is the biggest honeypot we've ever had ever and they've not been able to crack it

00:30:16.260 you don't think they'll just figure out a way and one 11 year old there's only one way that we can

00:30:21.020 crack it right now and that is quantum computing which we don't have it's like perpetually 10

00:30:26.860 years away but that's what i'm just getting at it's like it's perpetually 10 years away but like

00:30:30.580 eventually it won't be eventually quantum computing will happen but there's a solution for that too

00:30:35.000 for bitcoin like there's literally a backup plan you know what it is no you've heard of it you've

00:30:40.940 heard of it i'm sure you've you've heard of it it happened in 2017 entering the dyson sphere

00:30:46.060 type three uh it uh splits the chain splits halving have not the happening no you split

00:30:54.420 the blockchain you split the blockchain into two different coins where one path is the hacked one

00:30:59.360 which is the original what we have right now is called the shah 256 cryptographic algorithm

00:31:04.620 that's like the that's like the security that backs bitcoin right so it would split into two

00:31:11.020 separate chains where one of them would be the one that was quantum hacked and the other one

00:31:15.520 could be based on a completely new set of cryptographic rules that is not quantum computing

00:31:19.640 hackable which is completely different based on like different mathematics like who initiates the

00:31:24.680 split it's the miners so remember that those people that like saw the rubik's cube basically

00:31:30.200 it's the equivalent of them saying like uh fuck these rubik's cubes let's go to these other ones

00:31:34.980 right here okay does that make sense yeah so if you own one or let's say 10 bitcoin on one chain

00:31:40.980 and it splits you will own 10 on both whoa does that make sense okay and then there will just be

00:31:46.780 a drop and there will be a consensus yeah yeah probably that one will like lose value yeah but

00:31:51.220 the consensus model will go with the new chain that is still functional gotcha so it's like it

00:31:56.940 It can't really be destroyed because when one gets destroyed, it splits into a different one.

00:32:01.360 And so the natural next question that people ask is like, well, why can't you just like copy the chain?

00:32:04.880 Like what happens?

00:32:06.100 What stops the government or anyone else just copying the code of Bitcoin because it's public?

00:32:10.960 Like why can't we make a duplicate of Bitcoin?

00:32:13.160 And the reason we can't is because Bitcoin is not just the code itself.

00:32:17.880 It is what's called a network effect.

00:32:20.180 Those are all the businesses that are built on it, all the miners, all the people that are involved.

00:32:25.320 You can't replicate that.

00:32:26.520 You can't copy paste that you can copy paste the code, but all the support and the infrastructure that is running Bitcoin cannot be replicated by a copy paste job in all at the highest level and all, you know, like seriousness.

00:32:40.220 It's not that wild of a pipe dream to imagine that this could actually take place.

00:32:46.740 Like like when you look at when you look at what's actually backing the U.S. dollar, which is so important to people and they spend their entire lives trying to buy houses with the U.S. dollar, buy cars with the U.S. dollar.

00:32:59.160 The U.S. dollar is a piece of paper backed by nothing but trillions of dollars of debt.

00:33:03.820 So there's nothing there.

00:33:04.840 Right.

00:33:05.040 Like, you know what I'm saying?

00:33:05.860 And so it's it's it very much is becoming more and more believable that this actually can take place.

00:33:12.520 but what it does the byproduct of this actually happening is the destruction of the elite and

00:33:20.060 and i am just so curious to see how that happens and how that's already happened and i know i get

00:33:28.660 so many times right right in history we've had we've had a transformation from like we've used

00:33:34.280 resources like gems and seashells and then it was like all right cool let's move on to something

00:33:39.300 else i found this thing called gold and everyone's like all right that's the new thing so if you had

00:33:43.320 gold you were the next transfer of wealth goes to you after that we had oil right but didn't it seem

00:33:50.020 like a lot of the people with the most gems their kids ended up with the most gold and their kids

00:33:53.900 ended up with the most oil yeah of course you know what i'm saying so like at the end of the day it's

00:33:56.920 it's it's all generational anyways like you've got in some respects you've got white kids in

00:34:00.960 granite right now connecticut that are pumping bank accounts or sorry crypto wallets whatever

00:34:06.300 ever filled with coins so that in 120 years their kids are going to yale you know what i'm saying

00:34:11.700 so it's still nepotism yeah yeah for sure that's that's always gonna be around one thing that's in

00:34:16.320 my mind is that when you said like knowing where a politician moves his money or yeah transparency

00:34:21.040 what i'm saying is i don't know if that necessarily would work just because

00:34:24.980 i believe every country's built off of a lot of dirty money and i don't think they're gonna want

00:34:31.700 to expose what they're actually doing saying they don't have a choice i don't think they're

00:34:36.400 gonna let that happen and that's what i mean i don't think a country's gonna do that because

00:34:40.160 they might want the money and power but if it's gonna flip the switch on them where they don't

00:34:44.700 have a say on things like that's where people go okay do i want money or power and a lot of people

00:34:50.440 want power money is just a vehicle to give you power so if you're gonna trade in power for money

00:34:56.240 it's pointless in their eyes i i get what you're saying but in some ways they just don't have a

00:35:00.820 choice where technology is going right at some point the reason that the government can't just

00:35:05.500 get rid of it yeah is because it's gonna it's about to become so relevant with the way that

00:35:09.820 we use it every day that these politicians that we think are gonna ban it they're gonna be like

00:35:15.140 wait i can't ban that shit i use it myself does that make sense does the idea of those people

00:35:20.120 that were always looked at as the enemy embracing the project scare you you know what i'm saying

00:35:24.380 like all the people that you're like yo these are the guys that were trying to drain all of a sudden

00:35:26.920 they're like bitcoin bitcoin you're always welcome here guys come on in the senate let's talk about

00:35:31.860 it like does that scare the people that that created this and no getting in bed with the

00:35:37.000 enemy if no because i think they're completely clueless as to what bitcoin really is about

00:35:40.720 right now all it is for most people is it's like it goes up in value and i got rich

00:35:46.400 right yeah that's all it is but behind that it's the most powerful tool that humanity has ever

00:35:52.880 gotten and they don't understand that yet damn they don't get it i have one more question for

00:35:58.860 you well you probably could do more even because we got some time yeah we got maybe no i only have

00:36:02.700 one and that's it and then i'm out i'm out leaving right after this question i'm not even gonna

00:36:07.160 listen to your answer um my question is what happens when the government's like okay cool

00:36:12.300 this is like actually in effect and it's moving uh fuck bitcoin we're gonna bring all the brightest

00:36:18.120 minds in the world to invent something equally as great as that right but it's gonna be under

00:36:21.840 our control and they're they're doing that they're literally doing that right now and it's not is it

00:36:26.720 is it a coin or is it not blockchain it's it's hilarious because that's why i'm saying they

00:36:32.420 don't get it because they are trying to recreate the wheel but instead of creating a wheel they're

00:36:37.720 like making it the most fucking complicated thing ever so blockchain only works if it's going to be

00:36:43.120 a decentralized kind of a thing so what corporations are doing they're like guys we restructured our

00:36:48.460 banking system on the blockchain like why the fuck would you do that you already have a database to

00:36:53.460 do it for you why would you want to complicate it with a blockchain it doesn't make sense to have a

00:36:58.060 decentralized centralized tech does that make sense yeah yeah it wouldn't work it doesn't work

00:37:03.900 and so when they're like we're advanced guys we get it come come to us we're advanced tech it's

00:37:09.000 like dude you missed the point right it's not about having your database be decentralized because you

00:37:13.840 own it you control it that is not decentralized by definition it is not blockchain what about

00:37:19.540 what about the i'd like to just just let me chime in same time there yeah uh there's so much to

00:37:24.880 unpack here yeah there is a lot and i want to try to understand exactly maybe um what a bitcoin is

00:37:33.640 before we go sure uh any further so uh correct me if i'm wrong but there is a finite amount of

00:37:39.280 bitcoin there is correct 21 million 21 million and how many have been mined thus far around 18

00:37:44.520 18 million and how is a bitcoin mined and how many are mined per day you're kind of already

00:37:49.260 hit on it right because it's is it is it are there miners they're sitting at supercomputers

00:37:55.280 right cracking equation until they what happens does a bitcoin like pop up or like where does it

00:37:59.900 go yeah is it in the ether like what happens yeah so imagine so i don't have like the numbers off

00:38:05.120 the top of my head how many are created a day but i do know that i think by the year 2144

00:38:10.060 so in about 120 years from now that's when the last bitcoin is going to be mined from the block

00:38:16.260 why why so long on the final because what's what's called the havening right oh the one i brought up

00:38:21.580 that's right nothing to do with what we're talking about yeah because every time these people saw

00:38:27.460 these rubik's cubes after a while the difficulty increases yeah and that's just to make sure that

00:38:32.740 if tomorrow we didn't create computers that could just mine everything all out at once

00:38:37.140 we're making the difficulty be exponentially increasing over time so that we slow down on

00:38:42.960 what's called the inflation of bitcoin so that it's not printed infinitely it's amazing yeah

00:38:47.580 so it's like built into it that's insane it gets difficult that is insane so beautiful right who

00:38:53.100 came up with this i don't know this is crazy is it a miracle is it a miracle that it happened or

00:38:58.480 was this like a very calculated like i don't know strategic objective with an endpoint it doesn't

00:39:03.540 make sense because when people try to analyze like what the hell it was there are so many things

00:39:08.120 about it that it's like one person could not have created it because there's like cryptography

00:39:12.500 and coding and economics and game theory and it's like one person there's no possible way they could

00:39:19.100 know and hit upon all these points like you just said like it's like it's like magic like so many

00:39:24.400 things came together in the most elegant it's almost like a bunch of elite people got together

00:39:29.940 i still i still want to know what happens when you know a miner you know he's in his construction

00:39:39.440 hat and he got his pickaxe over his shoulder and he's at his his supercomputer and he cracks the

00:39:44.200 equation like where does the new bitcoin go is it his yeah so that's from what i understand

00:39:51.140 divided amongst the miners that were participating okay of how much work they put into it how much

00:39:56.320 power and energy what is that occupation called what do you do for a living i'm a mine bitcoin

00:40:00.620 yeah i'm a minor yeah i'm under 18 what is it jeff what's computer these kids what do these

00:40:06.900 miners look like coal hats so so okay so we used to be able to mine bitcoin with this with this

00:40:14.720 computer a laptop we were like literally a laptop people would just mine it with our gaming computer

00:40:19.220 and it was super easy but then it got to a point where we had to create specific like asics like

00:40:25.600 these asic technology of these computer processors that were only supposed to be mining this stuff

00:40:31.920 and every cryptocurrency has its own like native i guess formula to mine it okay yeah so exactly

00:40:40.940 so you see these uh i think they're called so bitman bitmain ant miner you see that right there

00:40:45.600 yeah that one right there yeah so if i buy these so no that one used to cost like 12 grand

00:40:50.100 now it's three because it's not as powerful as it once was so you need a ton of these like people

00:40:55.720 like literally higher room dude a month ago i was in some dude's garage the whole garage was just

00:41:01.340 everything was just all these and he's a minor he's a minor and how many bitcoin has he mined

00:41:06.460 he's never told me no one like everyone is so secretive about this yeah and also he probably

00:41:10.920 they don't want anyone to know they want the government to know right his is probably like

00:41:13.600 a novice setup compared to the ones that oh you know what i'm saying like we've we've all seen

00:41:18.280 the rooms at google and facebook with their data collection computers yeah i'm sure there are

00:41:22.720 warehouses that have but yeah michael but here's what's crazy so in 2017 michael

00:41:31.520 jeff i love jeff always saying something over there

00:41:38.480 so you guys remember in 2017 how bitcoin went to like 20 grand yeah i do because i tried to invest

00:41:45.580 back then yeah yeah and uh it was too risky for my financial advisors to comfortably give me my

00:41:52.080 own money to invest fire them all and they didn't do no swear to god and they didn't do it and so

00:41:56.960 now i feel like i'm i'm late right you're not late so what in 2017 uh there was a lot of fomo right

00:42:04.040 yeah but that was from what's called retail buyers which are people like you and me which

00:42:08.200 are relatively not very rich not billionaires right and so this time it's uh institutional

00:42:15.500 fomo right so now you have corporations companies that are investing one percent of their portfolio

00:42:22.160 which is billions of dollars into bitcoin is that why it's so high right now that's what just

00:42:26.860 yes that's what's happening at 35 948 so you have guys like stanley drucken miller like all these

00:42:36.080 super respected hedge fund managers

00:42:38.460 that are starting to be like,

00:42:40.180 oh, shit, I finally get what this is.

00:42:43.520 And so they're like,

00:42:44.340 all right, let's put 1% in.

00:42:45.900 Even the not-so,

00:42:46.680 even Scaramucci got involved.

00:42:48.220 Yeah, yeah, right.

00:42:48.700 I saw that, yeah.

00:42:50.140 Scaramucci, yeah, that's right.

00:42:51.080 Sky something.

00:42:51.920 Can a regular person buy now

00:42:53.120 if it's that much money?

00:42:54.080 Yeah, because you can split a Bitcoin, right?

00:42:55.960 A Bitcoin could be...

00:42:56.640 You can buy a fraction of a Bitcoin.

00:42:58.340 You can split a hundred million ways,

00:42:59.620 I believe, one Bitcoin, yeah.

00:43:01.440 Where's this going, man?

00:43:03.040 Give me an exact target.

00:43:04.580 I need to know right now.

00:43:05.140 Okay, that's a really easy example.

00:43:06.760 So I think, and maybe I'm wrong,

00:43:09.080 but I think that Bitcoin is going to surpass gold's market cap

00:43:12.420 in about this decade, like in the next 10 years,

00:43:16.100 the next eight years probably.

00:43:17.100 What is that market cap?

00:43:18.460 $200 trillion?

00:43:19.360 No, so gold's market cap is $10 trillion, right?

00:43:22.200 I think Bitcoin is, look it up, is it $650 billion?

00:43:26.700 Bitcoin.

00:43:27.660 I think it's like $650 billion.

00:43:29.060 And just for people who don't know,

00:43:30.520 the market cap is what exactly?

00:43:32.200 It's like the combination of all the money in that space.

00:43:34.380 Okay. $350 billion for Bitcoin.

00:43:36.520 No, that's incorrect. That's incorrect, yeah.

00:43:38.640 It's in the 600s.

00:43:40.200 So Bitcoin's market cap could hit $1 trillion in 2021.

00:43:43.280 Yeah, but what is it right now?

00:43:44.280 It's like 600. Go to CoinMarketCap right there, yeah, yeah.

00:43:47.140 This?

00:43:47.540 Yeah, yeah.

00:43:48.540 All right, there we go. 671.

00:43:50.720 So divide, whoever has a calculator, divide 1,000 by 67.

00:43:55.540 I could do this.

00:43:56.000 Divide 1,000 by 67.

00:43:57.540 Divide 1,000 by 67?

00:43:59.200 Yeah, what does it say?

00:43:59.940 1,000 divided by 67. 14.9.

00:44:02.280 Okay, now multiply 14.9 times 36,000.

00:44:05.620 That's where it's going.

00:44:07.080 Oh, no.

00:44:08.720 537,313.

00:44:10.520 Hey, mom, can I have a few more dollars to put into my Bitcoin account?

00:44:13.780 So that's going to happen this decade.

00:44:15.720 But that's not the end result.

00:44:17.440 That's just like peanuts for now.

00:44:19.960 What?

00:44:20.440 Yeah, that's in the short-ish term.

00:44:22.680 So in 10 years, one decade, what could Bitcoin possibly be at?

00:44:27.300 If it becomes like a global reserve world currency like gold used to be,

00:44:32.280 then it could be in the multiple millions per coin.

00:44:35.000 Yeah.

00:44:35.440 What?

00:44:36.020 Yeah.

00:44:36.560 I'm rich.

00:44:37.460 Yes.

00:44:37.780 I bought a...

00:44:38.980 But here's the thing.

00:44:44.080 Here's the thing.

00:44:44.860 By that point, when Bitcoin is worth a million dollars,

00:44:48.720 like stuff that you think you could afford right now

00:44:51.320 would be 10 times the amount.

00:44:53.300 Oh, no.

00:44:54.720 Inflation, right?

00:44:56.080 So it's not so much that Bitcoin is going up in value

00:44:59.100 as much as the dollar is falling in relation to it.

00:45:01.680 Because as we pump more of dollars into the system, you need more of them to buy the same thing.

00:45:07.640 And that's why it's increasing.

00:45:08.980 Okay.

00:45:09.600 Because we're pumping so much money into the system.

00:45:12.440 So basically what that means is if Bitcoin does that.

00:45:18.700 Right.

00:45:18.900 then the the result and what you make out of it is not as great as what people think it really is

00:45:29.300 because of the relationship with what you have to buy with it so my question is there's there's a

00:45:36.460 lot there's a lot more inherent risk with it with a bitcoin investment because the upside potential

00:45:41.760 is blocked by the relationship to what it will cost to purchase things with said profits no

00:45:46.560 they're not that far it's not like such a close relationship okay it's still a you are literally

00:45:53.120 taking more risk right now not owning bitcoin than having it oh my god like not having it is

00:45:59.640 screwing you more than having that's that's an insane statement yeah that's insane yeah and and

00:46:05.400 there's more than one cryptocurrency right so again there's a lot to unpack here so okay so

00:46:09.400 with bitcoin right now we're also going to see a lot of i think this year probably this year i i

00:46:13.800 could see someone like elon musk or tesla being like hey guys by the way i put like five percent

00:46:18.720 of tesla's cash uh cash reserves into bitcoin oh my god once that happens it's going to be like a

00:46:24.720 domino effect of like all these companies from the s&p 500 which are the top 500 companies in the u.s

00:46:29.940 right they're going to start announcing the same thing they're going to be like oh yeah we had some

00:46:33.460 too jp morgan chased the bank jamie diamond the ceo he's talking shit about bitcoin and i guarantee

00:46:39.660 you at the time that he was his bank was buying it baller yeah yeah that's how you do that's how

00:46:44.980 you do it what else would you do paypal just announced something right so yeah they're

00:46:50.420 starting to integrate it which is another reason why it jumped yeah like because paypal is gonna

00:46:55.220 dude yeah mark cuban said he'd run for president when bitcoin hits a million oh yeah yeah i hope

00:47:01.360 he's alive bye then he's gonna be like 15 20 years probably okay that's insane okay so so yeah though

00:47:06.740 there's there's more than one cryptocurrency right so even on this list okay okay so ethereum

00:47:10.620 is my my second favorite okay or really my close favorite most people's second favorite yeah it is

00:47:15.660 it is the second favorite it is the poster child of yeah uh and the difference between bitcoin and

00:47:20.980 ethereum is that ethereum is gonna be like what's called the uh m1 global supply of money probably

00:47:28.300 so m1 is like economists call it is all the physical money that's in circulation right now

00:47:33.780 that's like the coins and the physical dollars right so ethereum is like let's say we had a

00:47:38.720 dollar it's like you implanted a computer chip inside the dollar okay it's like programmable

00:47:44.120 smart money so if i wanted to i could be like all right if you guys visit my youtube channel i will

00:47:50.280 pay you x amount of dollars if you complete it by this amount of time i could put in qualifiers

00:47:55.460 for you to do it's called a smart contract so if you fulfill on that request then you get sent the

00:48:01.820 money does that make sense yeah and the reason that's amazing is because of what's called dows

00:48:07.360 sorry about all that it's my mom pick it up mom's more important all right we always pick up hey ma

00:48:14.640 hi we're on impulsive is everything okay it is i was calling to make sure everything was okay

00:48:20.960 with you so everything's great got bitcoin learning more about bitcoin we're on impulsive

00:48:25.080 okay we'll talk later all right bye ma bye bye that's awesome uh okay i love my parents so yeah

00:48:34.380 ethereum it's it's a it's a it's a usd with a chip inside it yeah exactly so it's the it's the

00:48:41.180 spend it's the more transactional yeah absolutely yeah so what's cool is like ethereum is going to

00:48:47.140 allow us to do what are called dals which are like the fancy word for it is decentralized

00:48:51.140 centralized autonomous organizations which is basically like a company without any of the

00:48:56.860 governance structure so that's going to disrupt entire industry so let's take a look at like real

00:49:01.540 estate right when you buy a house you have to get a real estate agent you have to go find the house

00:49:06.700 you have to get funded for it you have a buyer's real estate agent a seller's real estate agent

00:49:11.380 like it's a whole crazy process why couldn't i just talk to you and be like can i buy your house

00:49:15.240 yeah like why couldn't it be that simple yeah that's what's going to happen with ethereum very

00:49:19.760 cool ethereum's gonna be like hey i got this house locked in this smart contract if you send

00:49:24.280 me x amount on ethereum it's automatically yours once you fulfill this parameter this is so cool

00:49:30.300 so does so then does each one of these have a different shtick or it does characteristic that

00:49:37.440 specializes it does yeah but i don't i don't like any other ones other than the top two

00:49:42.960 really oh you're uh anti dogecoin is awesome dude the goodest coin you don't you don't fuck

00:49:50.680 you don't fuck with light coin either no no i don't but i'm not saying that they're not legit

00:49:54.400 i'm not saying that i just think that if i have one good idea that's my best idea my best idea

00:49:59.300 is never going to be as good as my second best idea got it hold on yeah but but they're but

00:50:03.620 they're also they each have usps or differentiating factors right so like so like that statement

00:50:10.080 seems odd to me because uh if you if you told me okay i really like mercedes-benz right i wouldn't

00:50:16.460 expect you to really like bmw but i might expect you to really like coca-cola you know what i'm

00:50:21.020 saying like like these are these are completely different i would rather be like why would i buy

00:50:25.160 coca-cola or bmw or mercedes when i could buy the guy who literally makes the parts for all of those

00:50:30.480 does that make sense so all of this is off the back of bitcoin and ethereum like all of the

00:50:37.860 not really okay but i i suspect that ethereum will be able to do virtually everything all of

00:50:44.740 these other ones but aren't but aren't some of the coins that are coming out now simply just

00:50:49.500 uh backing for businesses that exist in a more normal uh environment like like um what what are

00:50:57.460 i wish roido was here to talk about the ones he was bringing up but like i know yeah do you have

00:51:02.120 omg algo yeah i've heard of them like omise go yeah yeah what are they what are those what are

00:51:08.560 those i don't really follow them i'm just saying that i i think that ethereum will be able to do

00:51:12.680 virtually everything all these other ones are trying to do got it but i think at the end of

00:51:16.440 the day they're probably going to be like three to five at the most cryptocurrencies that are

00:51:21.480 going to be the top dog in 10 years from now and you don't know which i don't know which ones but

00:51:25.980 i think it's for sure going to be bitcoin for sure for sure yeah they've they've pretty much

00:51:29.960 they've established it yeah ethereum was uh was it created by a kid vitalik buterin russian guy

00:51:35.860 a 17 year old was he 17 yeah he's like a genius an accident right or what happened no no i mean

00:51:41.620 he's like a genius okay yeah you have you have to rich i don't know well now he is but i don't

00:51:46.720 think he was yeah he's dude oh my god brilliant so backing this up a little bit to how it continues

00:51:54.280 to affect the society that we live in right because because at the end of the day like

00:51:58.580 this is still only conversation that affects people who have money to put into this stuff

00:52:04.780 knowing that you can't do anything with it right now except for get that money back so like

00:52:09.140 if there's a if there's a grandmother out there or a mother or someone who is struggling to pay

00:52:14.520 their rent yeah they don't care about this episode of impulsive all that much right right like if

00:52:18.780 they're like yo i don't have my rent money for next month right when is all of this going to

00:52:24.400 start to be utilized in actual system when am i going to get to stop and shop to buy a piece of

00:52:30.260 meat for my brisket for me and my kids to eat that night and be able to use cryptocurrency to pay for

00:52:35.240 it the way it's going to happen is we're going to transition into blockchain tech and you'll never

00:52:38.800 know that you're using it they're going to just pull a trick it's going to be behind the scenes

00:52:43.280 it's not right now there's all hype about like blockchain this blockchain that but like you as

00:52:48.140 a consumer will not you don't care like you just said grandpa grandma like what do they care about

00:52:53.060 blockchain this blockchain that just like how easy is it to use can i use it is it simple for

00:52:58.100 me to understand and that's it well what i'm saying is if i if i have 260 right now total

00:53:02.860 right that's my net worth sure and i'm watching this show because somebody out there has 260

00:53:07.040 sure what if i could invest in bitcoin yeah but i needed access to that like if i go to the store

00:53:12.580 i want to use a little bit to buy some gas or something like that you don't want to use it

00:53:15.720 right now it's not a very stable uh currency and it won't be stable for a long time there's gonna

00:53:20.860 be a lot of volatility in the meantime right right so it's not a use case scenario just yet

00:53:25.880 can you even use it you can oh my gosh what can you buy with bitcoin pretty much everything there's

00:53:31.580 a lot of um payment processors and like credit card companies that have already integrated

00:53:35.900 blockchain cryptocurrency when you literally pay with your credit card you are paying with crypto

00:53:40.160 but why would you want to do that if you paid for like the dude who bought like whatever pizza for

00:53:44.900 however many bitcoins right because and it was like hundreds of millions because it went up in

00:53:50.320 value right so why would you want to use it so what what's the correct way that's literally why

00:53:54.580 bitcoin is growing in value because it is swallowing all the fiat money that is out there

00:53:59.360 like all the bad money that is government money is being like sucked up dyson

00:54:04.420 nice dude it's sucking up all this shitty currency and it's growing in value so you

00:54:14.200 probably don't want to spend it you want to use it as a hedge against the current system is this

00:54:18.080 what huddle means yeah what the fuck is huddle is like h-o-d-l through thick and thin you just

00:54:24.400 gotta hold it it's a slang term right it is some dude misspelled the name hold because he was like

00:54:29.680 fuck huddle it all the bitcoin collectors are saying huddle yeah so just hold your bitcoin

00:54:36.100 indefinitely hold it indefinitely 60 of bitcoins haven't moved i believe in the last year or two

00:54:41.140 what inning are we in right now for bitcoin are we in the first inning still like has this game

00:54:46.280 just started i think it just started nice i think it just started yeah uh can i buy my bitcoin on

00:54:53.500 uh institutional sites like robin hood or or should i only be buying great question on yeah

00:55:00.440 good question base don't buy oh god they're gonna yeah no i wouldn't buy i wouldn't buy bitcoin on

00:55:06.340 on like free i'm gonna say don't buy it on free exchanges that are like buy it for free

00:55:12.000 the reason you don't want to do that is because none of them allow you to have uh access to your

00:55:17.160 private keys so that you can't send your bitcoin to somewhere else and like what i do with my

00:55:21.820 bitcoin is like once i buy it on gemini i will send it to a service called blockfi they don't

00:55:27.780 pay me to like say anything but that's just what i use yep but i send it over there and again it

00:55:32.080 It gets me, I think, 6% interest on my money, which is fucking insane.

00:55:36.980 On top of your-

00:55:37.440 Wait, wait, wait.

00:55:37.760 On top of the growth.

00:55:39.200 Wait.

00:55:39.680 It's insane.

00:55:40.560 Okay, for reference, the stock market grows 7% in value per year on average.

00:55:47.820 Yeah.

00:55:48.660 Right?

00:55:50.620 This company, like all these crypto companies, they're basically loaning out money.

00:55:54.340 They're loaning out Bitcoin to people that need the loans.

00:55:57.260 And in return for holding it there, it's like a glorified savings account.

00:56:02.080 You just hold it there on what's called a hot wallet because it's online, and they pay you 6% annual interest on that money just for holding it.

00:56:10.840 Just to hold it?

00:56:11.300 Just to hold it.

00:56:12.400 Why?

00:56:13.500 Because they're lending your money out to people as loans.

00:56:16.040 Okay.

00:56:16.620 Right.

00:56:17.460 Wow.

00:56:17.920 But you can withdraw it at any time.

00:56:19.240 It's not like you don't have access to it.

00:56:20.380 You can withdraw it at any time.

00:56:21.940 And you trust this random company?

00:56:24.240 So that company is backed by Gemini.

00:56:27.200 They're partnered up.

00:56:27.860 So Gemini, the Winklevoss twins, right?

00:56:29.960 They're like billionaires.

00:56:30.600 Oh, they've been huge on hot.

00:56:32.080 Hoddling.

00:56:32.680 Yeah, they're huge.

00:56:33.040 They're big hodlers.

00:56:33.960 So they're partnered with BlockFi.

00:56:35.500 Yep.

00:56:36.020 Yeah, so most of the money that is on BlockFi and Gemini is in a cold storage.

00:56:41.020 I believe 90% of the money they have isn't even online.

00:56:44.900 Tell us the difference between cold and hot storage.

00:56:46.680 So hot storage is on a website, right?

00:56:48.620 Got it.

00:56:48.720 So that is susceptible to being hacked by hackers, right?

00:56:51.800 Yep.

00:56:52.160 But cold storage is on the blockchain, which we talked about before, which is not hackable unless you're doing quantum computing, which we don't have.

00:56:59.040 So that's the difference.

00:56:59.820 And it's a physical, it holds your mind, like you need.

00:57:05.700 Cold storage?

00:57:06.560 Yeah.

00:57:07.000 Yeah, it is.

00:57:07.780 Right?

00:57:08.180 It can be literally on a piece of paper, though.

00:57:10.620 What's it called?

00:57:11.660 Is it a, what's a treasure?

00:57:13.060 Is this a treasure?

00:57:14.300 Help.

00:57:14.920 I mean, I don't, there's a lot of them out there.

00:57:17.100 I don't know if you want to plug like a specific one or not.

00:57:19.180 Did I just do that?

00:57:19.780 Yeah.

00:57:20.640 Well, I don't, I don't use Trezor.

00:57:22.300 I use Ledger, but Trezor, Ledger Nano got like, their emails got, there was a phishing

00:57:28.620 like hack.

00:57:29.400 someone went fishing yeah yeah yeah with miners what'd they catch with dysons they sucked up all

00:57:34.960 the fish no uh you know like they sent out a bunch of emails to customers and they're like hey log in

00:57:39.420 here and people like okay oh no so classic yeah oh that is that's like an og og yeah it still

00:57:45.680 happens all the time people fall forward but but it did they didn't hack the device itself it was

00:57:49.740 just the emails the emails have nothing to do with the actual physical device you said something

00:57:54.860 really interesting uh i mean besides that besides everything you said about about a minute ago what

00:58:00.780 was it what were we talking about uh oh oh the gemini thing okay what you do with your bitcoin

00:58:06.940 yeah yeah okay so you use gemini i do i i did coinbase today coinbase is great okay coinbase

00:58:12.200 is great and why you use gemini over coinbase because coinbase works closely with the irs and

00:58:17.020 they've kind of like given them data yeah and then gemini is a little bit more like by the books and

00:58:22.460 like really strict okay and they're a little bit more of a premium option but i got for some reason

00:58:26.300 i'm like oh i think they're safer what is it what's the cost look like on it i don't remember

00:58:31.180 off the top of my head what the cost is it is it a premium based on purchasing or is it a

00:58:35.180 if you use if you use their active trader platform which is like a really it looks like a like f15

00:58:40.560 fighter jet interface yeah which like i hate those yeah then it's basically free you can like if you

00:58:45.840 learn how to use it it's not that hard it'll take you like 10 minutes to learn it i'd rather just

00:58:49.600 pay man i i do too i just paid i just paid it's like the it's like the robin hood gold exactly

00:58:54.580 different options and the winklevoss twins are behind gemini yeah who are behind your what's

00:59:01.240 what's the company that does a six percent interest on your bitcoin block fi block and

00:59:04.900 they're behind block fi yes gemini they're not behind it but they're partnered together okay

00:59:08.740 okay they uh i'm reading here uh they use 11 million dollars from their 65 million dollar

00:59:14.580 payout from their facebook lawsuit against zuckerberg yeah to invest in bitcoin back in

00:59:18.960 2013 and it made them a billion like a billion yeah more than one billion yeah kind of funny

00:59:23.660 right like ironic they did good still a little short of mark but yeah it's insane that's insane

00:59:30.780 can't be too how much was it back then back 120 yeah 120 dollars yeah yeah no 120 i believe it

00:59:38.540 120 yeah 20 what 12 i think i think the biggest thing about all this is that scares me is the

00:59:45.280 idea that your bitcoin can be hacked it and to what capacity like online yeah so just risk what

00:59:52.260 you want or not don't risk any of it it's just my theory is if you're gonna have money it should

00:59:56.940 always be earning interest otherwise what's like you should be putting it to work right yeah it

01:00:02.000 should be earning something but if you don't want that and you're like i don't have the risk

01:00:05.200 tolerance for it just keep it on the on the blockchain and that you won't earn interest

01:00:08.900 but it'll be in the safest place possible i'm i'm talking about not not not on the

01:00:15.640 are you talking about just in general yeah getting hacked like quantum computing no no no no no no

01:00:20.460 i'm talking about like an individual targeted attack yeah because xyz knows that you have a

01:00:25.860 lot of money stored in your wallet somewhere right one of your wallets you mean like if you

01:00:30.360 get kidnapped dude i've seen it i mean yeah it happens right yeah that's not a knock against

01:00:35.540 bitcoin though or the tech no no no no it just it just it scares me because it's gone yeah for

01:00:41.160 sure for sure you just have to be smart with it and remember your stuff write it down okay put it

01:00:45.140 in a safe and make sure no one sees your private key it says it says our friend sakoshi satoshi

01:00:52.160 is the richest bitcoin owner yeah he is 1.1 million btc but he's not he's not he's not a real

01:01:00.660 person well i don't we don't i don't think he's alive he's probably not alive anymore really what

01:01:05.520 if sakoshi nakamoto is actually jack ma i doubt it jack ma's gone where is he do you know where

01:01:11.700 jack ma is where's jack he's in my closet is he actually bro where the fuck is jack ma dude i

01:01:17.020 mean the government took him to probably like a reformant camp can you it's happening a lot

01:01:21.140 there's a big problem in china with business people yeah yeah censorship all the time yeah

01:01:25.440 fucking jack ma dude he's such a good guy dude it's crazy i get overwhelmed when people tell

01:01:31.920 me about bitcoin i've been it is so overwhelming i've been it is asking questions about bitcoin

01:01:37.560 what the fuck are you doing what are you doing can you show that please

01:01:43.280 why are you shoving that banana it's riley reed back on the pedestal

01:01:47.860 what are you doing what the fuck you doing you are literally oh there's a banana

01:01:54.060 what even is this

01:01:57.360 what the fuck are you doing

01:02:00.020 so you have a contraption here

01:02:02.180 where you took a metal straw

01:02:03.840 and put it in a funnel

01:02:05.060 oh my god

01:02:07.580 did you see that

01:02:08.380 it's not gonna work

01:02:11.020 I hate what you've done

01:02:13.620 I think they sell this product to Adam and Eve

01:02:16.400 wait

01:02:16.920 what is

01:02:18.500 keep sticking the straw in it like when it shits the banana

01:02:21.260 watch watch watch

01:02:22.860 not as successful as i thought this is horrifying but but the bigger question is i understand it's

01:02:26.900 not as successful as you thought but what what were you what are you doing like why are you

01:02:30.380 oh card flicking dude i'm yeah so rusty on that so i've been i've been asking questions about

01:02:39.260 bitcoin for for years and it's such like an abstract concept it took me forever to figure

01:02:43.940 it out like i i started in 2012 and i was like this is cool i was like let me buy it at 100

01:02:48.760 and i couldn't figure it out i was like 23 at the time i could not how many bitcoin did you

01:02:52.820 buy in 2012 in 2014 it was my first time i bought them i bought six of them for like 300 a piece

01:02:58.060 oh my god and then i wish you had bought a thousand i bought a drone with those fucking

01:03:02.740 six bitcoins no you should have huddled i know i didn't get bitcoin i was like what is it and

01:03:09.800 then i saw it go down i'm like ah that's just a fugazi fugazi right and i was like there's no

01:03:14.900 way that bitcoin is this hype like in 2017 it came back 20 i was like why and that's when i

01:03:20.480 like really got it are there any downsides to bitcoin downsides any negatives to cryptocurrency

01:03:26.900 or is it all just this is the future dude we're approaching phase one i think so but downside is

01:03:33.820 like you just have to be take precautions about it just be smart don't be reckless and don't

01:03:38.620 start buying alts because you're like wow bitcoin's the future and then some other altcoin is gonna

01:03:43.340 be like yeah you don't understand but then this and they're gonna promise you the world like this

01:03:46.880 is gonna change that's gonna change and you're gonna be like this is great this is the future

01:03:50.160 because that's what happens and then you get screwed you start you start experimenting with

01:03:54.140 like different altcoins and talk to me about nfts non-fungible tokens oh god digital art

01:04:00.160 you're talking about like when it's attached to like an asset where they're yeah so i think you're

01:04:05.200 talking about like um gosh what is it it's uh you're attaching identities on the blockchain

01:04:11.340 like so like because it's an immutable like you can't change the public ledger you're basically

01:04:17.060 uh it's called like tokenization that's the word okay where it's like you take your charizard card

01:04:22.880 that you pulled right yep you could be like all right i'm gonna do an ico of a charizard and

01:04:28.980 you're like i'm gonna issue 50 of the equity of this charizard which by now is like what 300

01:04:33.600 grand or something yeah yeah i'm gonna 150 grand i'm gonna issue tokens right each token is worth

01:04:39.800 x amount you can invest in that token that's so cool so now you have literally like fractionalized

01:04:46.500 ownership for people you'll be able to do that with cards with your house with literally you as

01:04:51.540 a career logan paul be like yo i just want my own coin if you want to be a part of my success

01:04:57.780 and my yearly like salary that i make i'm going to issue 10 of my equity of myself and i'm going

01:05:04.280 to tokenize x percent and you if you want if you believe in my future you can invest in me

01:05:10.380 and you'll own a fraction of my income where maybe you'll get dividends like interest payments

01:05:16.320 based on what you own that's an ico yeah that's basically sort of it yes it would have to go

01:05:22.340 do they actually own a part of your your actual body like could they come and claim a great

01:05:26.680 percentage of your arm that's a great question that's left up to the courts right that's gonna

01:05:31.300 imagine that like you know like cool isn't that isn't that cool though dude that's amazing

01:05:35.460 oh you got it dylan yeah yeah you stuck the banana on the funnel yeah way to go okay okay

01:05:42.900 cool it's really deep like the whole thing is in there though yeah what all right guys

01:05:48.320 professionals uh okay yeah i might i might find myself in in doing something like that in the

01:05:57.820 future because a couple there's there's celebrities with coins right the yachty coin

01:06:02.140 didn't didn't uh the acon acon acon oh yeah right right yeah i mean there's a lot of people that

01:06:09.280 going to start doing that once it becomes normalized and if we can get like the courts to

01:06:13.760 you know honor it like if there's disputes then yeah i think it's going to be a big thing where

01:06:19.460 does it stop what do you mean i don't know it just seems like people are just like you know what uh

01:06:25.000 my table is now for coins buy them and people are like yeah table coin like where the fuck is this

01:06:32.980 end bro i don't know i'm gonna sell my bath water though yeah like people are already doing that

01:06:37.600 Can you buy Belle Delphine's bathwater with Bitcoin?

01:06:41.020 Let's ICO it.

01:06:41.820 If she was smart.

01:06:43.340 If she was smart.

01:06:43.960 If she was smart, she would start accepting it.

01:06:45.060 For sure.

01:06:45.620 Let's ICO it, yeah.

01:06:46.640 I think I'm going to sell one of my first edition booster boxes.

01:06:51.100 Really?

01:06:51.420 You have another one?

01:06:52.480 Uh-oh.

01:06:53.400 Bro.

01:06:55.020 Have another one.

01:06:56.660 I thought you only did that one.

01:06:58.080 Oh, my friend.

01:06:59.540 What?

01:07:00.100 Have another one.

01:07:01.660 What?

01:07:02.000 I think I want to sell one of them with some sort of cryptocurrency.

01:07:05.620 Really?

01:07:06.020 I think it'd be a cool transaction.

01:07:07.600 That'd be great.

01:07:08.640 Yeah, because it appreciates.

01:07:10.360 It does.

01:07:10.960 Do you want to buy one right here, right now?

01:07:12.520 Are you going to charge like 15 grand again?

01:07:14.700 Give him a discount.

01:07:17.540 So much more.

01:07:18.380 Is it more now?

01:07:19.580 The first edition boxes are like $350.

01:07:22.200 What about a single booster pack?

01:07:23.960 A single booster pack from the...

01:07:25.720 Yeah.

01:07:26.180 Depends if it's unweighed.

01:07:27.920 You don't know if it's heavy or not.

01:07:28.580 Oh, you're not weighing them.

01:07:29.820 No.

01:07:30.240 Right.

01:07:30.740 Okay.

01:07:31.100 So I don't know.

01:07:31.900 I don't know.

01:07:32.160 We'll figure it out.

01:07:32.840 That's fair.

01:07:33.380 Yeah, I want to do another break soon.

01:07:34.560 And I want to attach a crypto element to it.

01:07:37.460 I think you have the platform to do it in a way that I think is going to get a lot of traction.

01:07:42.740 Yeah, it's such a fascinating, futuristic, progressive movement.

01:07:48.740 That's why it excites me.

01:07:50.580 Type 1 stuff.

01:07:52.060 It is type 1 because now you have a planetary civilization that can get involved in your career on a global level.

01:07:59.680 It's like, I want to invest in you.

01:08:01.920 Never before has that been possible.

01:08:03.740 That's so cool.

01:08:04.620 That's so cool.

01:08:05.280 I have some stuff planned.

01:08:06.920 yeah i can't wait to announce it the government has to hate cryptocurrency for now they just

01:08:12.560 don't understand it and they're scared of it they don't hate it they don't get it yet because all

01:08:17.440 the people that run our government they're grandpa grandma they don't they're like what's the

01:08:21.180 internet yeah like they don't they don't get it they're not gonna get it that's gonna be our

01:08:25.640 generation yeah does anyone else have any bitcoin related or cryptocurrency related

01:08:32.300 it's so much

01:08:33.720 to digest

01:08:34.580 my brain hurts dude

01:08:36.080 from all

01:08:36.580 discalculations

01:08:37.500 and metaphysical

01:08:38.280 do you want to try

01:08:39.720 to slice this banana

01:08:40.840 with a card

01:08:41.460 I'm not gonna be able

01:08:42.240 to do it

01:08:42.700 yeah you are

01:08:43.380 I haven't done it

01:08:44.200 in so long

01:08:44.720 why not

01:08:45.540 you don't do this

01:08:46.780 because it doesn't

01:08:47.180 pay well

01:08:47.680 because YouTube

01:08:49.480 pays better

01:08:50.120 dude can you do

01:08:51.000 a card trick

01:08:51.840 yeah

01:08:52.720 like a magic trick

01:08:53.980 or like a

01:08:54.540 can I get my cards

01:08:55.640 they're bitcoin cards

01:08:57.000 correct

01:08:57.500 I had a deck

01:08:59.040 right

01:08:59.280 I just opened it

01:09:00.100 oh there we go

01:09:00.740 okay

01:09:01.080 yeah so they're

01:09:02.140 bitcoin cards they are hold on all right can i can i have you pick one yeah yeah sure yeah

01:09:09.040 all right choose carefully george i'm gonna stop stop right here yep all right uh take this oh

01:09:16.940 thank you yeah all right where am i playing the camera right there that one the one guy in the

01:09:22.480 yellow shirt all right i'm gonna tear this card see if you can hear it can you hear it yeah yeah

01:09:29.500 i heard that last part there hold on to that hold it yeah hold on it hodl it hodl we're gonna dice

01:09:35.840 in it all right i'm not gonna get anywhere near anyone i'll be right here fair is everything so

01:09:41.600 fair yeah it looks good it's gone where's it at logan you've been sitting right i haven't come

01:09:46.800 anywhere near you right not that i know look what's right there where under your microphone

01:09:53.740 no stop

01:09:55.680 is it the same

01:10:00.320 match it up

01:10:00.820 no he said Matt literally give us the card

01:10:04.200 because I'll fucking leave right now

01:10:06.100 what the fuck

01:10:08.920 how is that possible

01:10:11.500 how did you do that

01:10:12.460 how much did I invest

01:10:14.280 did you mind that

01:10:16.520 did you mind this

01:10:17.520 bro that's not okay

01:10:19.400 and it's also like I said earlier in the show

01:10:22.740 very closely related to blockchain in my eyes and bitcoin like you just the magical finance i mean

01:10:29.640 it's decentralized peer-to-peer instantaneous cryptocurrency obviously but the question is

01:10:35.360 was this your card

01:10:36.780 that's just crazy yeah good for you why do you do it off of a bitcoin uh card uh i don't know but i

01:10:47.000 no this is these are just cards that like i make but i don't sell them i should are you you said

01:10:52.380 your friends with graham stefan yeah who he bought a pack he bought a pack for dude i was

01:10:56.460 gonna buy a pack from you you should have i should have but i had six wade packs and on in my card on

01:11:01.740 ebay and then you're like all right you dropped that video all of the packs instantaneously

01:11:06.560 tripled and gone yeah yeah i think i think pokemon's just getting started i just think at some

01:11:12.080 point it has to peak because it's unlike decentralized currency it's not currency

01:11:17.540 they're just playing cards so like or you know at the end of the day like what does it go to

01:11:21.500 Just playing cards?

01:11:22.480 Well, great, beautiful, life-changing, magical playing cards.

01:11:25.700 Yeah, yeah, yeah.

01:11:25.980 Watch your fucking mouth.

01:11:26.960 Sorry.

01:11:27.840 But I'm just saying, like, where does it end?

01:11:31.380 It's art, dude.

01:11:33.080 So I'm fucking with base set.

01:11:34.820 First edition stuff.

01:11:36.060 This is blue chip stocks.

01:11:37.620 Bluetooth stocks.

01:11:38.200 Satoshi Nakamoto.

01:11:40.320 Bluetooth.

01:11:41.780 That's what I got you.

01:11:42.720 Bluetooth.

01:11:43.420 Yeah.

01:11:44.400 Yeah.

01:11:45.660 So Pokemon, Bitcoin.

01:11:48.780 You know, they go right there.

01:11:49.900 uh uh no i don't think i don't think we've peaked no no yeah not in the long term

01:11:55.160 oh look at what you're doing yeah i just saw that that was weird oh yeah dude i don't

01:12:00.280 microphone's in my way whoa wow one more time here you go wait these are called l cuts these

01:12:05.140 are pretty dope whoa how did they find you to to do the cardistry i didn't know that was

01:12:12.040 the cardistry and now you see me too oh my god oh my god this is insane

01:12:19.540 whoa

01:12:21.740 that's dope

01:12:23.060 you're like Jeremy Piven in Smoke and Aces

01:12:25.520 whoa

01:12:26.620 he had no trouble unlocking a girl's bra

01:12:29.440 at all

01:12:30.040 he was like this

01:12:31.460 and then every girl was like ah ah shit

01:12:34.640 you've been unlocking more bras after Bitcoin

01:12:37.180 blew up or what

01:12:38.360 I would assume

01:12:40.020 mind him

01:12:41.020 can I try to slice this banana

01:12:43.660 should we all try to slice this banana

01:12:45.340 try it

01:12:46.540 that was nice

01:12:49.140 Hold on, I got to show you this.

01:12:50.260 This is how I do it.

01:12:51.020 Whoa!

01:12:52.000 Almost killed me.

01:12:54.100 Where should I go?

01:12:54.960 So you want to hold it like this.

01:12:56.600 Yeah.

01:12:57.160 So if you're at home, take a card or a credit card.

01:13:00.840 Hold it.

01:13:01.760 You're a righty, right?

01:13:02.680 Yeah.

01:13:02.800 Who's a righty?

01:13:03.460 You guys are all righty?

01:13:04.160 Yeah.

01:13:04.480 All right, I'll be righty.

01:13:05.580 So hold it here on the corner, in the upper left-hand corner like this.

01:13:08.980 And you can see how it's like loose a little bit, but it's enough to hold it.

01:13:12.640 So when you do this, when you kick it out, the momentum of the card will come out naturally.

01:13:16.240 and it'll

01:13:17.680 like just uncurl

01:13:18.880 your hand

01:13:19.260 does that make sense

01:13:20.760 yeah

01:13:21.160 yeah that was good

01:13:22.660 oh you almost killed

01:13:23.640 Dylan

01:13:23.980 yeah

01:13:25.300 you sliced it

01:13:26.540 look at that

01:13:26.900 I sliced that nana

01:13:28.100 you sliced the tip

01:13:29.100 of the dick off

01:13:29.920 that would have

01:13:31.460 killed me

01:13:31.840 yeah

01:13:32.220 so if you

01:13:33.080 if you use like

01:13:33.940 your body into it

01:13:34.900 you know like

01:13:36.040 we're throwing cards

01:13:36.880 at a banana

01:13:37.260 like it really

01:13:38.160 someone's gonna slice it

01:13:39.720 that one sounded like

01:13:40.520 oh

01:13:41.240 Justin I'm sorry

01:13:42.660 are you alive

01:13:43.680 or did I sever your body

01:13:44.580 in half

01:13:44.940 okay he's alive

01:13:46.100 that one is a whip too

01:13:48.420 oh yeah I don't want to

01:13:50.460 I don't want to

01:13:50.960 some of these are lasers

01:13:54.720 oh what

01:13:58.360 oh careful

01:14:01.360 I'm sweating

01:14:03.200 I'm sweating

01:14:03.700 oh you know what I have to be in motion

01:14:14.580 yeah if you just like put your body into it you know like like oh it's not gonna be able to slice

01:14:24.000 it because i think that the steel rotted in the middle of it oh that sucks but shouldn't it stick

01:14:27.980 at least no not a nice shot did you hear that wow shit all right fuck this banana why'd you get it

01:14:35.600 why'd you give us an indestructible man somebody sliced it yeah it's been

01:14:38.880 do it with a credit card

01:14:51.620 do it with a credit card

01:14:53.140 she's gonna kill somebody

01:14:54.180 see right here guys this is the future of investing

01:14:57.480 in America at work

01:14:59.300 these are gonna be

01:15:01.100 these are gonna be people that own

01:15:02.580 the institutions in the future

01:15:04.680 this is a magician and now we're gonna give you investing advice

01:15:07.340 are there any other more up and coming exciting uh investment opportunities

01:15:14.660 yeah let me know when are you ico-ing i want to be part of this yeah yeah yeah i think it's

01:15:23.160 gonna make some waves i think it's gonna be cool we got a thing we got a thing coming that's gonna

01:15:26.900 be cool man uh why does amazon not pay taxes because they they are they keep their money

01:15:33.060 offshore and our laws allow that and so they save a lot of their money explain how that works

01:15:37.660 i'm not 100 familiar with how it works like the specific mechanics of it i'm not like a tax

01:15:43.400 attorney they employ they employ so many people they have a ton of infrastructure in the united

01:15:47.320 states yeah there's a bunch of they exploit a bunch of loopholes yeah exactly there's a bunch

01:15:50.520 of loopholes that protect big corporations from paying taxes they move jeff bezos pays taxes

01:15:55.400 sure he pays taxes sure the corporation that is amazon doesn't pay taxes because they employ

01:15:59.880 hundreds of thousands of people

01:16:01.900 and do

01:16:03.760 and by the way I'm not saying this is right or not right

01:16:06.200 but there's a

01:16:07.980 consensus that the

01:16:09.160 gain for the country off of them being

01:16:12.000 a corporation is greater than what

01:16:13.660 their tax payment would be. Sure.

01:16:15.980 If that makes sense. Absolutely, yeah.

01:16:17.840 But I don't know the specific laws either.

01:16:19.700 Not a tax attorney. Hire those people.

01:16:22.120 Yeah. That's mad cool, man.

01:16:24.020 Thank you. Where'd you get that question from?

01:16:26.460 Just randomly? It was on my list

01:16:27.980 and I'm also curious

01:16:29.820 because uh it's it's it's crazy to me right like i read somewhere that they didn't pay taxes and

01:16:36.880 that doesn't make any well how much did donald trump pay it was like a couple hundred bucks

01:16:39.980 right oh yeah that's true yeah it's a lot weirder when one person when a person pays it um republican

01:16:46.880 tax cuts 2017 carry forward losses from years so so not being profitable by the way by the way here's

01:16:52.340 what happened today right so the senate runoff elections right yeah where so the democrats took

01:16:57.660 both the seats in the senate so now we're gonna have a democratic congress and a democratic

01:17:02.180 president right yep so now just stimulus for all two thousand dollars stimulus checks like

01:17:08.880 just money for everybody i mean at the end of the day it's all really is it's just waves of

01:17:13.020 back and forth you know what i'm saying it's that the bigger thing that will happen by the way

01:17:17.060 and you and you said that on the course to step us to being a step one civilization that

01:17:22.440 decentralized currency would be the biggest step yeah decentralized or centralized government or

01:17:28.960 sorry a unanimous government without two-party system is actually the biggest fucking step

01:17:34.900 yes that would be that would be a planetary rule of governance type of thing you know what i'm saying

01:17:38.420 we could use technology blockchain to basically make sure that it's all transparent we have access

01:17:43.420 to it that we have access to it that we can see where the money's going right but what i was saying

01:17:47.400 with the senate so now that the democrats have control over everything this is why bitcoin is

01:17:52.260 pumping and it's going to continue to go because free money for everyone what does that do you

01:17:57.280 flood the economy with more money right so is bitcoin a liberal platform libertarian yeah

01:18:02.980 libertarian yeah not authoritarian no not yeah so they don't fuck with chick-fil-a

01:18:08.480 chick-fil-a ain't gonna be taking bitcoin i don't think so no justin logan paul throws up

01:18:14.680 massive gang signs less impulsive what are you doing i'm doing what you're doing without cards

01:18:21.180 i think that's all we got i think that's all we got don't forget to hodl it does don't forget

01:18:27.380 don't forget to hodl hey hold on see if i can oh no oh shit where are you going all right all right

01:18:32.040 so so hold on hold on we got more tricks there's you didn't see that so imagine bitcoin is like

01:18:38.500 was once four dollars right i might totally screw this up how about organized all your faces are the

01:18:43.920 same yeah so i mean it's it's real okay money so there's not much you could do with four dollars

01:18:49.140 right nowadays uh watch camera right here whoa wow that was sick wow did you do that with my

01:19:02.720 money yeah is that what bitcoin does you just you just hundred extra money

01:19:06.800 hi well very stupid so that's what bitcoin does yeah it does it appreciates all right hell yeah

01:19:14.540 Never mind.

01:19:15.480 That's how we got the women's bra to pop.

01:19:17.400 He's like, you got four bucks in your head?

01:19:18.920 There you go, Toots.

01:19:20.060 She's like, oh, my God.

01:19:21.380 We're getting this fucking knee off.

01:19:24.080 It's Dyson's.

01:19:25.200 All right, Andre, bro.

01:19:26.040 Thanks for coming on to Paulson.

01:19:27.000 Thanks for having me.

01:19:27.620 Yeah, yeah, yeah.

01:19:28.480 I appreciate you, bro.

01:19:29.640 Thank you.

01:19:30.160 Now we know more and more about crypto, and hopefully you guys do too.

01:19:33.340 And if you're smart, maybe invest a little bit in the cryptocurrency.

01:19:38.420 Do it.

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01:19:40.700 Hit that subscribe button.

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Impaulsive with Logan Paul - January 07, 2021

E250 What Is Bitcoin & How Does It Work？ (w⧸ Andrei Jikh)

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