Valuetainment - Bitcoin's Most Hated Man - Craig Wright

00:00:00.000 30 seconds.

00:00:01.800 Did you ever think you would make it?

00:00:04.520 I feel I'm so close I could take sweet victory.

00:00:07.620 I know this life meant for me.

00:00:10.760 Yeah, why would you bet on Goliath when we got Bet David?

00:00:14.580 Valuetainment, giving value is contagious.

00:00:16.420 This world of entrepreneurs, we get no value to haters.

00:00:19.160 How they run, homie? 1.00

00:00:20.120 Look what I become.

00:00:21.420 I'm the one.

00:00:22.400 I'm Patrick Medevi, host of Activity.

00:00:23.960 I'm sitting down with probably the most hated man in the Bitcoin community,

00:00:26.680 Craig Wright, who claims to be Satoshi Nakamoto.

00:00:30.800 Craig, thank you so much for being a guest on Valuetainment.

00:00:33.700 You're welcome.

00:00:35.020 So how much, how much, you know, I call people, I'm not in the Bitcoin world.

00:00:39.400 Obviously, I own Bitcoin, a small percentage of Bitcoin,

00:00:42.580 but I'm not one that follows all the forms.

00:00:44.740 I'm not one that's, you know,

00:00:46.480 because the community is an interesting community of a lot of true believers.

00:00:50.160 There's a community that is fully furious with you

00:00:53.400 and a smaller community that believes in you.

00:00:55.940 Why did you decide one day to wake up and piss off everybody?

00:01:00.020 Well, I didn't really decide that at all.

00:01:02.080 I mean, where people are going wrong is that they seem to think

00:01:05.380 that I'm going to invent a creation

00:01:08.980 and then be happy that everyone twists and makes it into something else.

00:01:13.560 Shortly after I left sort of my pseudonym

00:01:18.200 with the sort of launch of drug markets

00:01:22.080 and whatever else that I didn't really want,

00:01:23.940 we had people like the Electronic Frontier Foundation

00:01:27.740 come out with these comments about Bitcoin,

00:01:31.160 this new censorship-resistant system,

00:01:33.800 talking about how it will stop governments taking your money

00:01:36.720 and all this stuff.

00:01:37.900 Bitcoin doesn't do anything like that.

00:01:40.360 That is all mythology.

00:01:41.960 So these people hate me for the simple fact that I'm ruining their myth.

00:01:48.020 It's basically the case of they've produced a church of Satoshi

00:01:53.400 and I've come back and I'm not what they want.

00:01:57.620 It's the scene in Doskieski where the Christ comes back

00:02:04.420 to actually talk with the Inquisitor

00:02:07.140 and the Inquisitor doesn't want him.

00:02:10.060 He sits there saying,

00:02:11.640 we don't need you anymore.

00:02:12.940 The church is fine.

00:02:15.100 But the church is not fine.

00:02:17.760 And these people,

00:02:19.040 what they're wanting to do is not fine.

00:02:21.420 Bitcoin's designed to be a system

00:02:23.180 that is open and honest.

00:02:24.940 You can't do that by destroying governments.

00:02:27.200 People forget that government is just a word.

00:02:33.780 What government is at the end of the day,

00:02:35.640 whether it's good or bad,

00:02:37.160 it's people.

00:02:39.340 So if we have a good government,

00:02:41.000 it's because we have a system that is managed

00:02:42.800 and controlled by people that care about it.

00:02:47.180 And if we have a bad government,

00:02:48.740 it's because people allow them to have that.

00:02:53.260 Okay.

00:02:53.960 So for the average person,

00:02:55.240 you just went to a crazy different place.

00:02:57.300 You went to a very deep place.

00:02:59.820 But for the average,

00:03:00.760 let me just put some things out there numbers wise.

00:03:03.840 If you are Satoshi Nakamoto,

00:03:06.080 if you are Satoshi Nakamoto,

00:03:07.640 if you are,

00:03:08.580 and when I say if you are,

00:03:09.780 you're saying you know you are,

00:03:10.940 I'm just saying for the skeptics,

00:03:12.600 if you are Satoshi Nakamoto,

00:03:14.780 you're essentially worth on paper $8.8 billion.

00:03:18.240 Is that pretty accurate?

00:03:20.940 I don't actually know.

00:03:22.920 I know it's a lot of money.

00:03:23.980 I don't sit there watching the price.

00:03:27.820 Yes,

00:03:28.440 it's a lot of money.

00:03:30.440 So that's a lot of money,

00:03:32.120 $8.8 billion.

00:03:32.940 And I know at the peak of it,

00:03:33.920 when Bitcoin had $20,000,

00:03:35.840 it was around $20 billion.

00:03:37.560 The reality there though,

00:03:38.820 is you can't actually sell any of these things

00:03:40.820 for that amount.

00:03:41.620 So if people say you've got that much money,

00:03:44.020 but you don't really,

00:03:45.180 because if you try and sell it,

00:03:46.860 then it goes down a lot.

00:03:47.900 So the actual realizable value is a lot less than that.

00:03:52.760 But the reality here is,

00:03:54.420 it matters not about how much money you have.

00:03:57.160 It matters what you can do,

00:03:59.260 what you can actually live in your life.

00:04:00.740 And I have enough money to go through university myself still,

00:04:06.580 to pay for my kids to go through university,

00:04:09.680 to have them educated properly,

00:04:11.800 to travel,

00:04:12.800 to spend time with my family,

00:04:14.720 to do things I want.

00:04:17.000 And what more is really important?

00:04:18.840 I mean,

00:04:19.640 past that,

00:04:20.300 who cares?

00:04:21.920 Yeah,

00:04:22.100 I know.

00:04:22.420 But the thing is like,

00:04:23.820 you know,

00:04:24.060 if you look at Ethereum founder,

00:04:25.800 Vitaly,

00:04:26.240 he's a pretty public guy.

00:04:27.340 It's not like he is hidden.

00:04:29.120 You know,

00:04:29.320 this is who I am.

00:04:30.060 I'm the founder.

00:04:30.820 And he does whatever he can to not be that much of a guy.

00:04:33.680 That's the control.

00:04:34.400 Because the whole thing about crypto is the fact that it's the complete opposite of banking.

00:04:39.300 So it's no one figure you look at.

00:04:41.400 It's not a hierarchy type of a model.

00:04:43.220 But that's actually wrong.

00:04:44.760 So this is,

00:04:45.340 this is part of what they don't like.

00:04:46.940 There are no sort of,

00:04:49.820 oh,

00:04:49.860 we're out of this.

00:04:51.560 Vitaly is the leader.

00:04:53.340 He is the issuer of Ethereum.

00:04:56.200 When he decided that the DAO didn't work,

00:05:00.460 he changed it.

00:05:01.740 It wasn't a community or a group.

00:05:05.140 None of this is about distributed groups do it.

00:05:08.420 That's a lie that's propagated and promoted

00:05:11.080 so that these few people in charge can say,

00:05:15.320 don't look at me.

00:05:16.420 Don't take me to be responsible.

00:05:18.920 I didn't do that.

00:05:20.940 That's the whole point.

00:05:22.400 It is these people who are shirking their responsibility,

00:05:25.600 who are basically allowing all sorts of heinous things to be just rife.

00:05:32.920 And the truth of the matter is they're making money out of that.

00:05:37.300 They're allowing child porn.

00:05:38.940 They're allowing drug sales, 0.97

00:05:41.200 hard drugs.

00:05:42.360 And they're sitting there going,

00:05:43.640 it's not my fault.

00:05:44.880 The community wants it.

00:05:45.880 The community doesn't vote on this.

00:05:48.480 The consensus mechanism in Bitcoin is the creation of blocks.

00:05:53.380 At present in BTC world even,

00:05:57.320 there are only 32 nodes.

00:06:01.200 Of that,

00:06:02.520 three or four control the whole system.

00:06:04.780 Now the developer bit,

00:06:09.880 they sit there going,

00:06:10.700 the community does this.

00:06:11.920 The community don't do anything.

00:06:14.600 Three people control the GitHub keys.

00:06:17.960 In Ethereum,

00:06:19.240 two people basically do it.

00:06:21.280 Your average company like General Motors

00:06:24.780 has more decentralization

00:06:29.500 than any cryptocurrency that people are talking about.

00:06:33.600 This whole nature of it's about decentralization

00:06:36.580 was never about Bitcoin.

00:06:38.640 It's people who piled in after I left the scene in 2011

00:06:42.220 who've taken up this concept

00:06:44.220 and run around going,

00:06:46.320 Bitcoin's broken.

00:06:47.440 We have to fix it.

00:06:48.260 Bitcoin was never designed to be any of those things.

00:06:51.280 Bitcoin was...

00:06:53.380 Okay, so when you were saying that,

00:06:54.720 you were saying Vitalik,

00:06:56.300 he's saying,

00:06:57.380 I'm just trying to get people to do what they want to do.

00:06:59.320 I'm not like the bank leader.

00:07:00.360 I'm not the hierarchy leader.

00:07:01.280 You're saying the complete opposite.

00:07:02.920 So what does that make you

00:07:04.240 if you're saying you are Satoshi Nakamoto?

00:07:07.420 I'm saying exactly the same things I said online.

00:07:11.320 I've never said that this was a decentralized system

00:07:14.420 or that it's good for drug sales

00:07:16.260 or any of these things.

00:07:17.260 I actually said,

00:07:18.380 don't invite WikiLeaks.

00:07:19.720 And yet that's the opposite of what everyone did.

00:07:24.120 I didn't run around going,

00:07:25.620 it's an anti-banking system.

00:07:27.680 There's no quote you'll find from me

00:07:29.620 at any point saying those things.

00:07:32.000 I didn't say it replaces banking. 0.98

00:07:34.620 That's really ignorant when you think about it. 0.80

00:07:36.920 Banking is not cash. 0.92

00:07:39.280 Bitcoin is an electronic cash system.

00:07:42.580 Now, banking, on the other hand,

00:07:44.300 is distribution of capital.

00:07:46.080 Bitcoin doesn't take your funds

00:07:48.660 and pool them

00:07:50.000 and give out home loans.

00:07:52.280 It doesn't give out business loans.

00:07:54.420 It doesn't manage those sources of funds.

00:07:58.400 It's cash. 1.00

00:08:00.340 And these people are too ignorant to even realize. 1.00

00:08:04.180 Or if they're not ignorant, 1.00

00:08:05.480 they're disingenuous. 0.99

00:08:06.660 And they're sitting there saying

00:08:08.820 that we're going to replace banking

00:08:10.280 for third world people.

00:08:11.940 It's not.

00:08:13.700 Third world people

00:08:14.520 don't have investment.

00:08:17.240 They don't have loans.

00:08:19.380 Saying you've got Bitcoin

00:08:20.460 isn't going to pull those people

00:08:22.320 out of poverty.

00:08:25.060 What it does

00:08:25.940 is it allows this false narrative

00:08:28.200 of a Ponzi

00:08:28.960 where people sit there going,

00:08:30.920 it's going to keep going up forever.

00:08:33.440 Invest now

00:08:34.200 because I've already invested

00:08:35.600 and I want more money.

00:08:38.540 That's the problem here.

00:08:41.180 How do these people are building?

00:08:43.100 So do you feel,

00:08:44.480 it sounds like you're,

00:08:45.760 you don't sound optimistic,

00:08:47.260 you sound pessimistic.

00:08:48.340 So let's just say

00:08:49.460 you are the founder of Bitcoin 0.98

00:08:50.520 and you're the monkey

00:08:51.200 of Satoshi Nakamoto. 0.90

00:08:52.720 If you are,

00:08:53.400 do you regret creating Bitcoin?

00:08:55.060 No,

00:08:57.100 I regret

00:08:57.680 not managing things properly.

00:09:01.640 I notice you've got a cross 0.96

00:09:03.500 around your neck

00:09:04.140 and 0.70

00:09:04.500 I used to be a pastor

00:09:07.220 and I've actually

00:09:08.720 started a Roman Catholic

00:09:10.000 and moved over to be Protestant

00:09:11.980 because it fit me better.

00:09:14.940 And I like actually being married.

00:09:18.120 But

00:09:18.580 there's a concept of stewardship.

00:09:21.320 So

00:09:23.460 the whole

00:09:25.220 Catholic

00:09:25.860 ideal of stewardship

00:09:27.600 is important.

00:09:29.800 Whether you're Protestant

00:09:31.080 or Catholic

00:09:31.820 or whatever else,

00:09:33.540 this idea of

00:09:34.860 having

00:09:36.140 long-term investment,

00:09:38.260 ownership

00:09:38.700 and

00:09:39.320 managing

00:09:40.500 everything,

00:09:41.620 knowing your problems,

00:09:43.040 being responsible.

00:09:45.560 This is what

00:09:46.120 really built

00:09:46.780 Western culture.

00:09:48.020 Responsibility,

00:09:48.740 knowing that you

00:09:49.660 are the

00:09:50.680 center of your own

00:09:52.000 problems and causes.

00:09:53.860 And what I regret

00:09:54.580 is

00:09:55.260 when I left,

00:09:56.780 when I

00:09:57.440 sort of

00:09:59.100 left everything

00:09:59.840 happen the way it was,

00:10:00.980 I thought I could

00:10:01.440 work in the background

00:10:02.340 and

00:10:03.040 fix things

00:10:04.340 without being

00:10:05.080 involved.

00:10:06.940 But

00:10:07.500 I abdicated,

00:10:09.280 not

00:10:09.660 sort of delegated.

00:10:11.580 There's a big difference.

00:10:13.060 And

00:10:13.260 part of stewardship

00:10:15.120 is taking ownership

00:10:16.260 of what you

00:10:16.920 cause,

00:10:17.720 your problems

00:10:18.380 and everything

00:10:18.760 like that.

00:10:20.140 And

00:10:20.540 that's what I regret.

00:10:22.020 I regret

00:10:22.420 not doing that.

00:10:23.760 Not

00:10:23.900 sort of,

00:10:25.880 it was a

00:10:26.700 harder choice

00:10:27.940 and I should have

00:10:28.640 made it back then.

00:10:30.260 So if you're saying

00:10:31.580 Vitalik is public

00:10:33.880 and he's the leader

00:10:34.640 of Ethereum,

00:10:35.300 but why were you

00:10:35.980 not public

00:10:36.440 from day one?

00:10:37.700 I thought things

00:10:38.620 would sort themselves

00:10:39.360 out.

00:10:40.360 I didn't,

00:10:41.860 I mean,

00:10:42.720 there was a church

00:10:44.960 of Satoshi

00:10:45.600 for a while.

00:10:46.320 There was a

00:10:47.260 whole lot of

00:10:47.720 other,

00:10:48.000 I mean,

00:10:48.840 I did not

00:10:50.380 foresee any

00:10:51.080 of this.

00:10:52.420 The whole

00:10:53.160 idea of Bitcoin

00:10:53.860 and the protocol

00:10:54.480 is that it

00:10:55.580 doesn't change.

00:10:57.160 None of this,

00:10:57.880 we get to keep

00:10:58.660 doing soft

00:10:59.220 forks or hard

00:10:59.920 forks or

00:11:00.360 anything.

00:11:01.020 The whole

00:11:01.720 concept of

00:11:02.340 set in stone

00:11:02.900 is we have

00:11:03.780 a protocol

00:11:04.540 that grows

00:11:06.340 and miners

00:11:08.120 don't vote

00:11:08.960 as everyone

00:11:09.620 says.

00:11:10.220 Miners

00:11:10.500 don't choose

00:11:13.020 what the

00:11:13.300 protocol is.

00:11:13.960 think about

00:11:15.040 that for a

00:11:15.500 moment.

00:11:16.340 That is a

00:11:16.940 horrible

00:11:17.320 scenario.

00:11:18.500 That is

00:11:18.800 might makes

00:11:19.740 right.

00:11:20.780 Those with

00:11:21.220 the most

00:11:21.720 money,

00:11:22.060 the most

00:11:22.380 power get

00:11:23.080 to choose

00:11:23.600 what happens

00:11:24.180 in our

00:11:24.500 monetary

00:11:24.820 system.

00:11:25.900 That's not

00:11:26.260 democratic.

00:11:26.820 That's not

00:11:27.200 fair.

00:11:28.840 Do you

00:11:29.160 really want

00:11:29.680 to see

00:11:30.060 some large

00:11:31.600 Russian company

00:11:32.360 or large

00:11:33.080 Chinese

00:11:33.680 company

00:11:34.140 dictating

00:11:35.540 world

00:11:36.520 financial

00:11:37.120 policy?

00:11:37.720 That's

00:11:40.480 what these

00:11:40.800 people are

00:11:41.200 arguing.

00:11:42.160 That

00:11:42.320 criminals

00:11:42.900 can dictate

00:11:44.880 financial

00:11:45.840 policy that

00:11:46.900 can't be

00:11:47.460 changed even

00:11:48.400 by government

00:11:49.060 or law

00:11:49.520 enforcement.

00:11:51.300 Really,

00:11:51.960 think about

00:11:52.340 that for a

00:11:52.760 moment.

00:11:54.020 We get

00:11:54.380 two large

00:11:55.060 miners,

00:11:55.520 each with

00:11:55.860 30%,

00:11:56.260 and they

00:11:56.900 have joint

00:11:57.920 control as

00:11:58.660 an oligarchy.

00:11:59.980 And they

00:12:00.480 can dictate

00:12:01.140 to the rest

00:12:01.860 of the world

00:12:02.340 that child

00:12:02.960 pornography is 0.72

00:12:03.740 good.

00:12:05.540 Mr.

00:12:05.880 Antonopoulos,

00:12:06.760 writer of

00:12:07.380 Mastering

00:12:08.120 Shitcoin, 1.00

00:12:09.140 came up

00:12:09.920 with this,

00:12:10.880 oh well,

00:12:11.280 it's not

00:12:11.580 my place

00:12:12.280 to tell

00:12:12.880 people that 0.73

00:12:14.480 child porn's 0.92

00:12:15.140 bad. 0.99

00:12:15.980 I mean,

00:12:16.200 if people

00:12:16.580 want to do

00:12:17.020 that,

00:12:17.280 they should

00:12:17.540 make their

00:12:17.920 own decisions.

00:12:19.540 Wrong.

00:12:20.780 I don't

00:12:21.540 care about

00:12:22.120 this Foucaultian

00:12:24.620 postmodern

00:12:25.600 ideal.

00:12:27.800 I still

00:12:28.600 believe that

00:12:29.540 we have

00:12:30.020 sort of

00:12:31.080 an overarching

00:12:32.220 idea of

00:12:32.920 morality.

00:12:34.920 This

00:12:35.220 pluralist

00:12:36.320 system

00:12:36.760 Hegelian 0.97

00:12:38.720 horrible

00:12:40.560 world of

00:12:41.340 everyone

00:12:42.380 having a

00:12:43.440 right to

00:12:43.980 whatever they

00:12:44.420 believe,

00:12:45.160 no matter

00:12:45.500 how low

00:12:46.280 and despicable

00:12:47.560 it is,

00:12:48.040 is wrong.

00:12:50.160 I don't

00:12:50.920 really care.

00:12:51.700 There is a

00:12:52.340 morality that

00:12:53.120 is native

00:12:53.540 to humanity

00:12:54.300 and doing

00:12:55.280 the wrong

00:12:55.780 things will

00:12:56.940 never be

00:12:57.580 acceptable.

00:12:58.500 And allowing

00:12:59.100 a small

00:13:00.080 cadre of

00:13:01.260 potentially

00:13:01.920 criminals who

00:13:02.960 are money 0.99

00:13:03.340 launderers 0.98

00:13:03.820 and want

00:13:04.240 to take

00:13:04.640 money

00:13:05.140 and do

00:13:06.560 all these

00:13:07.760 things that

00:13:08.180 I've already

00:13:08.680 mentioned

00:13:09.120 and get away

00:13:10.380 with it

00:13:10.680 because they

00:13:11.280 have more

00:13:11.940 hash power.

00:13:14.100 That is 1.00

00:13:14.940 asinine. 0.98

00:13:17.020 So what 0.89

00:13:18.020 kind of people

00:13:19.000 has Bitcoin

00:13:19.640 attracted?

00:13:20.300 You've mentioned 0.95

00:13:20.740 child porn now 0.92

00:13:21.540 twice, 0.97

00:13:22.780 drug traffic.

00:13:24.020 What kind of

00:13:24.460 people have been

00:13:25.140 turned on by

00:13:25.800 Bitcoin because

00:13:26.460 they can go

00:13:27.160 and they can

00:13:28.760 break the law

00:13:29.440 and not be

00:13:30.080 found?

00:13:30.440 What kind

00:13:31.180 of community

00:13:31.600 has that

00:13:31.940 attracted?

00:13:33.800 In around

00:13:35.840 June, July

00:13:36.980 2010, there

00:13:38.500 was the first

00:13:39.100 inkling of this

00:13:39.920 which I didn't

00:13:41.300 take too

00:13:41.740 seriously at the

00:13:42.360 time.

00:13:43.000 The first

00:13:43.920 version of

00:13:44.440 what became

00:13:44.880 Silk Road

00:13:45.420 was launched

00:13:46.100 initially selling

00:13:48.080 things like

00:13:49.220 magic mushrooms

00:13:50.180 and whatever

00:13:51.540 else.

00:13:52.320 And then it

00:13:52.700 broke out

00:13:53.780 straight into

00:13:55.200 heroin.

00:13:56.480 I mean, it's

00:13:56.820 one thing if

00:13:57.380 you want to

00:13:57.800 try and allow

00:13:58.620 people to

00:13:59.160 sell

00:13:59.460 pot,

00:14:01.120 especially

00:14:01.520 where it's

00:14:01.920 legal,

00:14:02.860 but they

00:14:03.320 can't get

00:14:03.700 banking.

00:14:04.900 It's another

00:14:05.420 to start

00:14:06.200 saying that,

00:14:07.000 well, heroin's

00:14:07.900 okay too.

00:14:08.560 It's personal

00:14:08.980 choice.

00:14:10.220 It's not.

00:14:11.120 It's incredibly

00:14:12.120 addictive and

00:14:12.800 destructive.

00:14:13.360 The same with

00:14:13.780 meth and ice

00:14:14.480 and all these

00:14:14.880 other things.

00:14:16.220 And a lot

00:14:17.700 of people came

00:14:18.680 as e-gold

00:14:20.320 collapsed.

00:14:21.580 E-gold was

00:14:22.140 taken down

00:14:22.780 around the

00:14:24.020 start of

00:14:24.400 Bitcoin.

00:14:25.600 And then at

00:14:27.000 the end of

00:14:27.480 that period,

00:14:28.580 Liberty Reserve

00:14:29.260 with Liberty

00:14:30.000 Reserve Euro

00:14:30.720 and Liberty

00:14:31.220 Reserve Dollar

00:14:32.100 was also

00:14:33.120 taken down.

00:14:34.280 And all

00:14:34.960 of those

00:14:35.280 people flocked

00:14:36.180 into Bitcoin

00:14:36.760 because the

00:14:37.800 Electronic Frontier

00:14:38.660 Foundation,

00:14:39.600 WikiLeaks,

00:14:40.100 other people

00:14:40.580 were sitting

00:14:40.920 there going,

00:14:41.400 Bitcoin's this

00:14:42.000 system that you

00:14:42.600 can't track,

00:14:43.320 can't trace,

00:14:44.160 that allows you

00:14:45.600 to do anything.

00:14:47.840 We've now

00:14:48.600 seen some of

00:14:49.140 the largest

00:14:49.580 child pornography

00:14:50.400 rings in the

00:14:51.060 world taken

00:14:51.680 down because

00:14:52.700 people attract

00:14:53.400 Bitcoin

00:14:54.040 transactions in

00:14:55.460 and out of

00:14:55.920 them.

00:14:56.940 There are

00:14:57.120 only just

00:14:58.980 recently a

00:14:59.680 couple of

00:15:00.060 those,

00:15:00.320 one in

00:15:00.600 Korea just 0.87

00:15:01.240 a little

00:15:01.460 while ago.

00:15:03.220 There have

00:15:03.480 been many

00:15:04.260 drug sites

00:15:05.200 taken down,

00:15:05.820 but the

00:15:06.620 whole thing

00:15:07.060 here is

00:15:07.540 Bitcoin

00:15:08.020 isn't

00:15:08.800 encrypted.

00:15:09.420 It's not

00:15:09.680 really a

00:15:10.280 cryptocurrency.

00:15:11.400 There's no

00:15:11.800 encryption at

00:15:12.460 all in

00:15:12.760 Bitcoin.

00:15:13.560 It's an

00:15:14.060 open ledger.

00:15:15.880 The identity

00:15:16.840 function is

00:15:18.420 firewalled.

00:15:19.760 So if you

00:15:20.220 can imagine

00:15:20.700 this, the

00:15:21.080 way it's

00:15:21.440 written is

00:15:22.000 like having

00:15:22.540 an index.

00:15:23.760 That index

00:15:24.720 links the

00:15:26.180 individual who

00:15:27.480 owns the

00:15:28.620 tokens, but

00:15:29.780 simultaneously, it

00:15:31.920 allows other

00:15:32.640 people not to

00:15:33.320 see who that

00:15:33.860 is.

00:15:34.760 So the way to

00:15:35.460 think about

00:15:35.960 this is

00:15:36.420 pseudonymy

00:15:37.160 means that you

00:15:38.380 can externally

00:15:39.300 link information

00:15:40.380 without actually

00:15:42.080 making it all

00:15:42.660 public.

00:15:43.060 So it doesn't

00:15:43.460 mean you don't

00:15:44.020 have identity.

00:15:45.400 In fact, digital

00:15:46.040 signatures require

00:15:47.220 identity.

00:15:48.240 The definition

00:15:48.700 of a signature

00:15:49.340 means that you

00:15:50.460 can't be

00:15:50.880 anonymous.

00:15:51.220 So all

00:15:52.680 these people

00:15:53.000 saying there's

00:15:53.660 digital signatures

00:15:54.440 in Bitcoin,

00:15:55.080 only if you

00:15:55.740 have identity.

00:15:57.040 If it's

00:15:57.620 anonymous, it's

00:15:58.320 not a

00:15:58.820 signature.

00:16:00.800 So if we

00:16:02.060 take that a

00:16:02.560 little bit

00:16:02.900 further, we

00:16:04.300 start thinking

00:16:04.820 about the

00:16:05.320 fact that we

00:16:05.800 have this

00:16:06.280 record and

00:16:07.640 it's designed

00:16:08.480 to be

00:16:10.900 something like

00:16:11.540 an old 1.00

00:16:11.920 bugger like 1.00

00:16:12.440 me would

00:16:13.320 understand.

00:16:14.600 I've worked

00:16:15.400 in accounting

00:16:15.940 firms and

00:16:16.800 in the past

00:16:17.580 we used to

00:16:18.960 have paper

00:16:19.940 backed

00:16:20.280 sort of

00:16:21.660 records,

00:16:22.320 ledgers,

00:16:22.760 journals.

00:16:23.900 And they're

00:16:24.460 really difficult

00:16:25.240 to change.

00:16:27.020 They're expensive

00:16:28.040 to try and

00:16:28.840 change.

00:16:30.200 So if you

00:16:31.280 have all that,

00:16:31.940 you can't just

00:16:32.520 scribble out an

00:16:33.700 entry and add it

00:16:34.460 because everything

00:16:35.200 needs to sort

00:16:36.720 of follow and

00:16:38.320 be correct

00:16:39.680 right down

00:16:40.660 a double

00:16:41.800 entry journal.

00:16:42.360 so you

00:16:43.900 can't go

00:16:44.660 somewhere in

00:16:45.220 the past and

00:16:45.820 scribble out a

00:16:46.380 line, but

00:16:47.780 you can fix

00:16:49.580 it because it

00:16:50.200 is visible,

00:16:51.500 because everyone

00:16:52.020 can read it.

00:16:53.420 Think about

00:16:53.840 this.

00:16:54.580 You have all

00:16:55.340 these immutable

00:16:56.460 journals in the

00:16:57.280 past, but

00:16:58.580 people made

00:16:59.380 mistakes.

00:17:00.460 So they still

00:17:01.320 have errata

00:17:02.060 sheets.

00:17:03.020 They still have

00:17:03.720 linked journals

00:17:05.260 where they can

00:17:05.820 change things.

00:17:06.940 None of this

00:17:07.420 having to go

00:17:07.940 back and

00:17:08.380 recalculate all

00:17:09.300 the hashes or

00:17:10.040 any of this

00:17:10.440 stuff.

00:17:11.480 All you need

00:17:11.960 to do is

00:17:13.000 have the

00:17:13.340 miners say,

00:17:14.320 this is what

00:17:15.780 the new

00:17:16.520 entry is.

00:17:17.340 And they can

00:17:17.840 do that

00:17:18.220 following a

00:17:18.780 court order or

00:17:19.460 whatever else.

00:17:21.400 The purpose

00:17:22.420 of nodes is

00:17:24.280 not to have

00:17:25.320 this decentralized

00:17:27.080 finance idea,

00:17:29.140 which actually

00:17:30.020 goes right back

00:17:31.140 to the 1920s.

00:17:34.060 The original

00:17:35.460 sort of concept

00:17:37.000 of having

00:17:38.520 promotion of

00:17:39.300 shares and

00:17:40.080 plugging shares

00:17:40.900 and everything

00:17:41.240 like that that

00:17:41.820 led to the

00:17:42.520 1929 crash.

00:17:44.640 That was

00:17:45.400 really about

00:17:46.680 the term

00:17:47.600 democratizing

00:17:48.580 finance.

00:17:50.100 There were

00:17:50.760 people like

00:17:51.680 they are with

00:17:52.180 Bitcoin right

00:17:52.820 now, sitting

00:17:54.160 there going,

00:17:55.000 buy this,

00:17:55.580 you'll be rich.

00:17:57.000 You don't need

00:17:57.740 to understand

00:17:58.320 it.

00:17:59.060 You don't need

00:17:59.920 to comprehend

00:18:00.500 it.

00:18:01.580 Just buy it.

00:18:03.340 Sit on it.

00:18:04.400 You'll be

00:18:04.740 rich.

00:18:06.020 That was the

00:18:06.820 promise then.

00:18:07.380 That's the

00:18:07.700 promise now with

00:18:08.740 a lot of

00:18:09.220 these people.

00:18:10.960 I'm very

00:18:11.580 positive with

00:18:12.180 Bitcoin.

00:18:14.140 Just not what

00:18:15.040 people say

00:18:16.420 is Bitcoin.

00:18:18.120 So if you

00:18:19.160 were to sell

00:18:19.840 me Bitcoins,

00:18:20.520 because that's

00:18:20.980 how it's being

00:18:21.320 sold, it's an

00:18:21.860 investment, put

00:18:22.560 your money in there,

00:18:23.160 you're going to be

00:18:23.560 rich, it's going

00:18:24.060 to go to 100,000,

00:18:24.900 it's going to go

00:18:25.260 to a million

00:18:25.600 dollars, you 0.54

00:18:26.580 know, it's going

00:18:26.880 to go to that.

00:18:27.800 How would you

00:18:28.720 sell me what

00:18:29.620 Bitcoin is?

00:18:30.480 Explain to me,

00:18:31.820 here's what

00:18:32.220 Bitcoin is, dot,

00:18:33.480 dot, dot.

00:18:33.700 What would it be?

00:18:34.880 I wouldn't.

00:18:35.480 I wouldn't

00:18:37.080 create plumbing

00:18:37.840 when a normal

00:18:41.220 person buys a

00:18:42.140 house, unless

00:18:43.880 they're a little

00:18:44.900 bit sort of

00:18:47.960 a perfectionist,

00:18:49.380 I'll say it the

00:18:49.800 nice way, pedantic

00:18:52.740 on certain things,

00:18:54.300 then they're not

00:18:55.160 going to sit there

00:18:55.800 going, well, I need

00:18:56.920 this particular

00:18:57.820 plumbing in this

00:18:58.480 part of the

00:18:58.880 house and these

00:19:00.060 faucets and I need

00:19:01.760 ceramic here and

00:19:03.480 I need copper

00:19:04.540 there and yada,

00:19:05.900 yada, yada.

00:19:06.720 Now, the truth

00:19:08.000 of the matter is

00:19:09.860 you don't care

00:19:11.940 about how your

00:19:13.540 internet connection

00:19:14.540 basically sends

00:19:16.340 packets.

00:19:17.540 You shouldn't care

00:19:18.840 about how your

00:19:19.560 money does it

00:19:20.160 either.

00:19:21.340 I don't want

00:19:22.100 people sitting

00:19:22.640 there and going

00:19:23.300 that they're some

00:19:24.780 super wizard and

00:19:25.900 know this thing.

00:19:27.060 I just want it to

00:19:27.580 be secure plumbing.

00:19:29.020 I want it to sit

00:19:30.880 there in the

00:19:31.220 background so that

00:19:32.580 accountants and

00:19:33.600 fraud analysts can

00:19:35.500 review things and

00:19:36.840 know that it's

00:19:37.300 secure.

00:19:38.180 I want it so that

00:19:39.560 it's fast, it's

00:19:41.440 better than Visa,

00:19:43.000 that it costs less

00:19:44.120 than PayPal, that

00:19:45.280 people can hold

00:19:46.240 their own cash

00:19:47.100 again, which cash

00:19:49.200 is disappearing.

00:19:50.060 That's a bad

00:19:50.620 thing.

00:19:51.740 I want you to use

00:19:52.820 Bitcoin.

00:19:53.360 I don't want you

00:19:53.820 to hoard it.

00:19:55.860 The whole concept

00:19:56.980 of having hoarded

00:19:58.260 money is a

00:19:59.020 pathology.

00:19:59.640 it's wrong.

00:20:02.100 If you want to

00:20:02.900 save, good.

00:20:04.160 If you want to

00:20:04.660 build, good.

00:20:05.600 If you want to

00:20:05.980 create something.

00:20:07.840 But this

00:20:08.700 pathology about

00:20:09.720 I'm going to get a

00:20:11.260 lump of gold and

00:20:12.140 hope that it goes up

00:20:13.100 in value is wrong.

00:20:14.500 How about actually

00:20:15.940 taking something and

00:20:18.000 building with it?

00:20:19.620 If we think about

00:20:22.160 going into the

00:20:23.640 old parables, the

00:20:26.500 parable of the

00:20:27.300 servant, and I'm

00:20:28.300 going to throw

00:20:28.540 this one in

00:20:29.040 there, the man

00:20:30.660 who had his

00:20:31.940 three servants

00:20:32.480 and he gives

00:20:33.120 each of them

00:20:33.640 some money and

00:20:35.180 one of them

00:20:35.600 buries it under

00:20:36.300 a rock.

00:20:38.420 Well, he still

00:20:39.280 has it at the

00:20:39.900 end, but the

00:20:42.220 one who spent

00:20:42.880 it and did

00:20:43.800 something and

00:20:45.240 planted crops and

00:20:46.520 worked.

00:20:49.480 I mean, that's

00:20:50.520 really what it's

00:20:51.000 about.

00:20:51.940 You don't make

00:20:53.040 anything from

00:20:53.840 having a lump

00:20:54.740 of money sitting

00:20:55.360 there.

00:20:56.700 You make

00:20:57.140 something by

00:20:57.660 building things.

00:20:59.000 Using money is

00:21:00.000 what matters.

00:21:01.160 Creating,

00:21:02.640 investing.

00:21:05.020 So based on

00:21:05.940 what you're

00:21:06.300 saying is

00:21:06.880 Bitcoin is not

00:21:08.100 a method of

00:21:09.660 investment.

00:21:10.720 Bitcoin was

00:21:11.440 built to use

00:21:12.360 to use, meaning

00:21:14.760 to purchase

00:21:15.380 things that's

00:21:16.240 cheaper than

00:21:16.820 PayPal, not

00:21:18.460 necessarily as a

00:21:20.140 method of let me

00:21:20.800 buy a bunch, let

00:21:21.660 it sit, and then

00:21:22.420 five, ten years

00:21:23.020 later I sell it

00:21:23.680 for more, make

00:21:24.220 more money.

00:21:25.300 Exactly.

00:21:26.780 It's really

00:21:27.540 about having a

00:21:29.220 system that

00:21:29.720 allows us to

00:21:30.560 have micropayments

00:21:31.640 more than

00:21:32.060 anything else.

00:21:33.640 So the

00:21:34.740 internet has

00:21:35.480 been crying

00:21:36.860 out for

00:21:37.360 micropayments

00:21:38.240 for years.

00:21:39.420 A decade ago

00:21:40.080 when I launched

00:21:40.600 Bitcoin, people,

00:21:42.320 everyone wanted

00:21:43.120 to solve

00:21:43.500 micropayments.

00:21:44.980 Facebook are

00:21:45.720 on Facebook

00:21:46.420 coin version

00:21:47.640 six now.

00:21:50.240 Everyone's

00:21:50.680 going, Libra,

00:21:51.660 oh, whatever

00:21:52.300 else, except

00:21:52.820 this is version

00:21:53.560 six.

00:21:55.220 It has

00:21:55.620 failed five

00:21:58.840 Amazon coin

00:21:59.560 failed.

00:22:01.300 They've all

00:22:01.960 done these

00:22:02.520 things and

00:22:03.700 they keep

00:22:04.080 trying because

00:22:06.540 it is valuable

00:22:07.660 to get digital

00:22:09.620 money that can

00:22:10.680 be sold in

00:22:11.660 fractions of a

00:22:12.960 cent.

00:22:14.220 If you've got

00:22:15.240 fees that are

00:22:16.320 a dollar or

00:22:17.300 even 20 cents,

00:22:18.360 it doesn't

00:22:19.080 work.

00:22:19.480 you need

00:22:20.580 fees of a

00:22:21.960 tenth,

00:22:22.400 of a

00:22:22.680 hundredth,

00:22:23.060 of a

00:22:23.380 thousandth of

00:22:24.080 a cent

00:22:24.400 of scales.

00:22:25.580 Not this

00:22:26.280 whole concept

00:22:28.040 that we're

00:22:28.360 going to take

00:22:28.720 down the

00:22:29.040 government and

00:22:30.500 replace it

00:22:30.960 with what?

00:22:32.400 It's a

00:22:33.100 concept of

00:22:33.780 how do we

00:22:35.080 no longer

00:22:35.900 have advertising

00:22:37.280 and hate

00:22:38.520 speech rule

00:22:39.620 the internet?

00:22:40.720 How do we

00:22:41.220 move Twitter

00:22:41.980 away from

00:22:42.620 basically

00:22:43.660 incentivizing

00:22:44.460 people from

00:22:45.020 fighting?

00:22:46.020 How do we

00:22:46.560 disincentivize

00:22:48.520 terrorist groups

00:22:50.220 from using

00:22:51.740 these things to

00:22:52.780 find people

00:22:53.700 who they

00:22:54.700 can basically

00:22:56.120 convert?

00:22:56.780 if we

00:22:59.260 don't have

00:23:00.160 people sold,

00:23:03.020 if we

00:23:03.800 don't have

00:23:04.140 their lives

00:23:05.260 as part of

00:23:06.560 this sort

00:23:07.140 of, I

00:23:08.200 guess,

00:23:09.180 well,

00:23:10.340 track where

00:23:10.980 you are,

00:23:11.540 monitor what

00:23:12.020 you do,

00:23:12.540 culture that

00:23:13.140 Google and

00:23:13.880 Facebook have

00:23:14.520 created,

00:23:15.940 then we have

00:23:16.960 a different

00:23:17.360 internet.

00:23:20.660 What do

00:23:21.240 you mean?

00:23:21.680 You just

00:23:22.400 went to

00:23:22.680 Twitter,

00:23:23.520 Facebook.

00:23:24.100 I know you're

00:23:24.380 not a big

00:23:24.800 fan of social

00:23:25.340 media.

00:23:25.780 And by the

00:23:26.000 way, for

00:23:26.260 full disclosure

00:23:26.880 for people to

00:23:27.480 know this,

00:23:28.280 you got a

00:23:28.760 degree in

00:23:29.220 theology.

00:23:30.020 You studied

00:23:30.820 theology coming

00:23:31.820 up, right?

00:23:32.280 I mean,

00:23:32.460 that was one

00:23:33.160 of the things

00:23:33.580 you studied

00:23:34.000 coming up in

00:23:34.540 college.

00:23:35.320 Yeah.

00:23:35.760 And it

00:23:36.980 seems like you

00:23:37.600 have a challenge

00:23:38.160 with Twitter

00:23:38.660 because of what

00:23:39.180 you just said

00:23:39.620 right now with,

00:23:40.380 you know,

00:23:40.560 the way they

00:23:40.960 make their

00:23:41.380 money is pinning

00:23:42.880 people against

00:23:43.480 each other.

00:23:44.120 And I heard

00:23:45.480 you say

00:23:45.920 something about

00:23:46.540 the fact that

00:23:47.940 there's a

00:23:49.600 problem with

00:23:50.340 Twitter,

00:23:50.860 Facebook,

00:23:51.280 all these

00:23:51.660 things being

00:23:52.160 cheap and

00:23:53.780 being free.

00:23:54.680 It shouldn't

00:23:55.460 be free because

00:23:56.420 if it is

00:23:57.320 free,

00:23:57.760 you can use

00:23:58.300 bots to

00:23:58.880 create imaginary

00:23:59.980 issues.

00:24:01.160 Where were you

00:24:01.580 going with that?

00:24:02.160 The problem is

00:24:04.160 it isn't free.

00:24:05.800 They are divisive.

00:24:08.560 They are many

00:24:09.060 other things because

00:24:09.800 they're not free.

00:24:11.460 People think that

00:24:12.380 they're free.

00:24:13.460 They don't see the

00:24:14.260 cost.

00:24:15.120 But whenever you

00:24:15.860 have this free

00:24:16.800 sort of mantra,

00:24:18.560 it is in reality

00:24:20.040 anything but free.

00:24:21.480 we have a

00:24:22.600 system that

00:24:23.500 sells you.

00:24:25.660 You put in

00:24:26.440 your information,

00:24:27.280 you put in

00:24:27.720 your photos and

00:24:29.020 they own it

00:24:29.740 all.

00:24:30.600 They get to

00:24:31.700 use it all.

00:24:32.480 They get

00:24:32.760 copyright over

00:24:33.900 what you're

00:24:34.220 doing.

00:24:34.520 They get access

00:24:35.540 to all you're

00:24:36.320 saying.

00:24:37.480 They get to

00:24:38.560 sell your

00:24:39.280 information,

00:24:40.620 basically to

00:24:41.440 either governments

00:24:42.400 or businesses

00:24:43.160 or whatever else

00:24:43.920 so people can

00:24:44.520 find out where

00:24:45.420 you go,

00:24:46.000 what you do.

00:24:47.400 And then they

00:24:48.180 can do that to

00:24:49.060 promote advertising

00:24:51.060 and sales

00:24:52.600 and whatever

00:24:53.100 else and things

00:24:53.620 you don't need

00:24:54.280 or want

00:24:54.780 and ideas

00:24:56.480 that really

00:24:58.400 shouldn't be

00:24:59.000 there.

00:24:59.820 Why?

00:25:00.480 Because Twitter

00:25:01.680 makes a few

00:25:02.400 cents every

00:25:03.000 time.

00:25:04.400 So rather

00:25:05.220 than having

00:25:05.800 knowledge of

00:25:07.500 what things

00:25:07.900 actually cost,

00:25:08.760 we have a

00:25:09.300 hidden cost.

00:25:10.940 Now,

00:25:11.240 the SEC back

00:25:12.260 in 1999

00:25:13.620 actually took

00:25:15.520 action against

00:25:16.220 a number of

00:25:16.920 decentralized

00:25:17.700 companies who

00:25:18.960 were saying

00:25:19.520 that they

00:25:20.320 were giving

00:25:20.620 out shares

00:25:21.400 and saying

00:25:21.860 that they're

00:25:22.440 not covered

00:25:23.860 because,

00:25:24.520 well,

00:25:25.900 that new

00:25:26.680 technology,

00:25:27.420 they can do

00:25:28.140 web IPOs,

00:25:29.200 which is the

00:25:29.580 modern word,

00:25:30.500 is called an

00:25:31.560 ICO.

00:25:32.660 And they

00:25:34.200 were issuing

00:25:34.800 shares if

00:25:35.880 people signed

00:25:36.520 up on their

00:25:37.000 site.

00:25:38.080 So you put

00:25:38.660 in your name,

00:25:40.120 address,

00:25:40.540 and some

00:25:40.840 personal

00:25:41.200 information,

00:25:42.160 and they

00:25:42.760 gave you

00:25:43.120 shares.

00:25:45.000 And guess

00:25:45.480 what?

00:25:46.860 Every time

00:25:47.840 you put a

00:25:48.500 mere email

00:25:49.140 address,

00:25:49.940 back in

00:25:50.320 1999,

00:25:51.780 when there

00:25:52.180 weren't that

00:25:52.840 many email

00:25:53.400 addresses,

00:25:54.040 when advertising

00:25:55.020 wasn't that

00:25:55.580 big,

00:25:56.960 the SEC

00:25:57.740 analyzed that

00:25:59.680 and still

00:26:00.160 came up

00:26:00.660 back then

00:26:01.440 with your

00:26:02.680 information was

00:26:03.600 worth $11

00:26:04.500 just by doing

00:26:06.460 that little

00:26:06.880 bit.

00:26:08.200 So right

00:26:09.480 now we're in

00:26:10.200 a world where

00:26:10.980 we have much

00:26:12.540 more information

00:26:13.320 where the

00:26:14.840 richness of

00:26:16.220 information about

00:26:17.200 your life,

00:26:18.200 if you have

00:26:18.760 Facebook on

00:26:19.380 your phone,

00:26:20.000 is incredibly

00:26:21.760 deep.

00:26:24.260 And now we're

00:26:25.880 selling all that

00:26:26.560 information and

00:26:27.840 it's not $11

00:26:28.460 anymore.

00:26:31.160 It's not cheap.

00:26:33.020 Now Facebook

00:26:33.480 could make money

00:26:34.520 without doing

00:26:35.140 all this.

00:26:36.660 Imagine if

00:26:38.340 every day they

00:26:39.520 got half a cent

00:26:40.760 from you,

00:26:42.900 they'd still be

00:26:43.540 profitable.

00:26:45.860 Imagine half a

00:26:46.880 cent from all

00:26:47.380 their people.

00:26:47.920 That'd be very

00:26:48.580 profitable.

00:26:49.480 People could even

00:26:50.300 have blog posts

00:26:52.240 and whatever else

00:26:52.820 that they sell,

00:26:53.620 other things that

00:26:54.240 they do online

00:26:55.060 and they could

00:26:56.020 make money

00:26:56.620 without having to

00:26:57.640 have bank

00:26:58.100 accounts set up,

00:26:58.980 all sorts of

00:26:59.440 things.

00:27:00.540 Yet that's not

00:27:01.740 what we're doing

00:27:02.380 because,

00:27:03.680 well,

00:27:04.420 billions of

00:27:04.980 dollars of

00:27:05.360 advertising,

00:27:06.760 most of which

00:27:07.500 is not really

00:27:10.040 what anyone

00:27:10.780 ever wants.

00:27:12.980 If Facebook

00:27:13.920 got a half a

00:27:14.780 cent every day

00:27:15.940 from every

00:27:16.880 user at

00:27:17.620 $2.2

00:27:18.320 billion,

00:27:19.560 that's $330

00:27:20.600 million a month

00:27:21.640 times 12

00:27:22.560 is not a lot

00:27:23.500 of money.

00:27:24.100 It's $4 billion

00:27:24.660 a year.

00:27:25.580 They wouldn't be

00:27:26.260 as profitable

00:27:26.840 as they are

00:27:27.360 today.

00:27:27.820 Now the

00:27:28.340 negative,

00:27:29.600 the negative

00:27:30.240 correction.

00:27:30.560 How much

00:27:31.020 do they get

00:27:31.400 right now?

00:27:32.620 Not in revenue

00:27:33.580 but in profit.

00:27:36.700 It's a lot more

00:27:37.520 than $4 billion.

00:27:40.980 It's a lot more

00:27:41.740 than $4 billion.

00:27:42.400 I mean,

00:27:42.560 I know he lost

00:27:43.140 money,

00:27:43.460 $7 billion last

00:27:44.240 week,

00:27:44.500 but the only

00:27:45.380 reason I'm asking

00:27:45.980 this is because

00:27:46.560 I'm going to

00:27:47.020 business model

00:27:47.640 now.

00:27:47.920 You made me

00:27:48.360 think about

00:27:48.720 business model

00:27:49.300 which is a

00:27:49.680 complete different

00:27:50.180 topic.

00:27:51.040 Can a business

00:27:51.800 model of

00:27:52.420 charging me

00:27:52.980 every day a

00:27:53.620 certain amount

00:27:54.180 really work for

00:27:55.060 others to get

00:27:55.740 in?

00:27:56.260 Can it scale

00:27:57.100 to $2.2

00:27:57.900 billion?

00:27:59.400 I don't know

00:28:00.460 if it can scale

00:28:01.020 to $2.2

00:28:01.680 billion users

00:28:02.460 on Facebook.

00:28:04.060 But going back

00:28:04.920 to crypto,

00:28:07.080 let's stay on

00:28:07.700 that topic

00:28:08.240 for a second

00:28:09.580 because I wanted

00:28:10.620 to follow up

00:28:11.120 with this here.

00:28:12.180 For folks

00:28:13.080 who know

00:28:14.000 Bitcoin,

00:28:14.600 and here's

00:28:14.960 what I've

00:28:15.280 learned from

00:28:15.640 a lot of

00:28:15.940 people that

00:28:16.340 claim they

00:28:17.200 know Bitcoin,

00:28:18.160 99% of

00:28:19.380 Bitcoin folks

00:28:20.240 have no clue

00:28:20.980 how this thing

00:28:21.500 works.

00:28:22.240 Would you

00:28:22.680 agree with

00:28:23.080 that?

00:28:23.780 That majority

00:28:24.800 of people

00:28:25.320 don't really

00:28:25.840 know everything

00:28:26.340 about Bitcoin?

00:28:27.900 I'd even

00:28:29.140 take it

00:28:29.720 further.

00:28:30.620 Make it

00:28:31.400 know something

00:28:34.080 about Bitcoin

00:28:34.880 and who's

00:28:36.140 involved in

00:28:36.680 it, maybe

00:28:37.920 1 in 10,000?

00:28:39.400 Okay, even

00:28:40.080 better.

00:28:40.460 I mean, I agree

00:28:40.980 with you because

00:28:41.560 it's so complex

00:28:42.380 and people try

00:28:43.580 to sound like

00:28:44.120 they're experts

00:28:44.600 and they know

00:28:45.020 what they're

00:28:45.340 doing, but

00:28:45.840 it's a very

00:28:46.580 technical issue.

00:28:47.540 To make it

00:28:48.400 comparable to

00:28:49.140 another thing,

00:28:50.340 I'll ask you

00:28:51.020 and maybe you

00:28:51.480 can help me

00:28:51.940 out with this,

00:28:52.480 is would you

00:28:53.600 be considered,

00:28:54.660 if you are

00:28:55.820 Satoshi Nakamoto,

00:28:56.920 are you comparable

00:28:58.260 to a founder

00:28:59.300 of a company,

00:29:01.000 to a fund

00:29:01.940 manager,

00:29:02.880 to somebody

00:29:03.520 who just

00:29:03.940 happened to

00:29:04.480 find gold

00:29:05.820 mine, who 0.64

00:29:07.000 would that be

00:29:07.740 comparable to?

00:29:08.700 If you were

00:29:09.000 to compare the

00:29:10.180 founder to

00:29:10.740 something, what

00:29:11.360 would that be?

00:29:13.940 I'm an

00:29:14.600 issuer, contrary

00:29:15.920 to what people

00:29:16.420 say, whenever

00:29:17.000 you create

00:29:17.520 something, like

00:29:18.180 Bitcoin Core

00:29:19.000 created something,

00:29:21.160 Vitalik created

00:29:22.140 something, and

00:29:22.680 everyone runs

00:29:23.240 around going,

00:29:23.840 there's no

00:29:24.120 issuer.

00:29:24.860 No, there

00:29:25.540 is.

00:29:26.500 I issued

00:29:27.060 Bitcoin with

00:29:28.600 all of the

00:29:29.260 requirements for

00:29:30.100 what that means

00:29:32.040 and all the

00:29:32.660 rest.

00:29:33.520 and Vitalik

00:29:34.940 issued

00:29:35.700 Ethereum

00:29:36.860 and the

00:29:38.740 people in

00:29:39.240 Bitcoin Core

00:29:39.880 issued

00:29:40.640 BTC

00:29:41.360 and other

00:29:43.080 derivatives.

00:29:44.120 So, the

00:29:45.400 end of the

00:29:45.780 day, everyone's

00:29:46.400 running around,

00:29:47.040 the law can't

00:29:47.520 touch us.

00:29:47.980 Of course it

00:29:48.400 can.

00:29:49.020 It's just

00:29:49.340 slow.

00:29:50.620 So, what

00:29:51.200 would I

00:29:51.420 consider myself?

00:29:52.220 I would

00:29:53.240 say an

00:29:53.780 inventor.

00:29:55.100 We've

00:29:55.660 got

00:29:56.000 now, 1,080

00:29:59.620 patents, around

00:30:01.520 400 patent

00:30:02.260 families filed.

00:30:03.800 We have

00:30:04.220 over 1,000 in

00:30:06.100 the backlog for

00:30:07.620 white papers

00:30:08.180 internally at

00:30:09.660 Enchain.

00:30:10.680 By the time I

00:30:11.560 finish with what

00:30:12.100 we've already

00:30:12.480 got, there'll be

00:30:13.600 at least 6,000.

00:30:14.480 So, if you're

00:30:18.300 an issuer, can

00:30:20.860 you also, if

00:30:24.980 you really

00:30:25.520 wanted to, if

00:30:26.120 somebody really

00:30:26.960 pissed you off, 0.99

00:30:28.240 let's just say 0.62

00:30:28.740 somebody really

00:30:29.520 pissed you off, 0.99

00:30:31.080 can you bring 0.96

00:30:31.800 down the whole

00:30:32.440 concept of

00:30:33.100 Bitcoin if you

00:30:33.700 wanted to?

00:30:34.740 What is the

00:30:35.420 concept of

00:30:35.960 Bitcoin?

00:30:36.580 Before I can

00:30:37.080 answer that one,

00:30:37.720 I'll need to

00:30:38.220 know what the

00:30:39.580 concept is that

00:30:40.400 I'm bringing

00:30:40.720 down.

00:30:40.980 I mean, I'm

00:30:41.980 talking about

00:30:42.520 all of these

00:30:42.980 folks that have

00:30:43.700 money in

00:30:44.200 Bitcoin, that

00:30:44.780 have bought

00:30:45.180 Bitcoin.

00:30:46.780 Can you

00:30:47.520 essentially make

00:30:49.680 Bitcoin go

00:30:50.740 away where

00:30:51.520 it's non-existent

00:30:52.460 where everybody

00:30:53.060 loses all the

00:30:53.740 value they have

00:30:54.320 in Bitcoin?

00:30:56.680 Well, that

00:30:57.400 depends on what

00:30:58.000 you're considering.

00:30:58.600 So, if you're

00:30:58.900 looking at

00:30:59.260 BTC, then

00:31:01.160 that's already

00:31:02.640 on shaky

00:31:03.100 ground.

00:31:04.980 Long term,

00:31:06.420 there's only

00:31:08.380 going to be

00:31:08.800 one system.

00:31:09.380 Contrary to

00:31:10.660 what people

00:31:11.000 say with

00:31:11.660 this whole

00:31:12.080 everyone will

00:31:12.700 have their

00:31:13.060 own money

00:31:13.620 and whatever

00:31:14.100 else, no,

00:31:14.700 there won't

00:31:15.020 be.

00:31:15.900 It's like,

00:31:17.460 how many

00:31:18.180 different types

00:31:18.960 of internet

00:31:19.460 do you have?

00:31:20.640 I mean, the

00:31:21.000 reality is we're

00:31:22.560 not going to

00:31:23.100 be on 50

00:31:23.940 different networks.

00:31:25.640 Back 30

00:31:26.500 years ago, we

00:31:27.240 had DECnet,

00:31:28.540 DARPAnet,

00:31:30.320 which became

00:31:31.260 internet.

00:31:31.860 We had

00:31:32.320 Vanyan Bynes,

00:31:35.140 Netbuoy,

00:31:38.660 Novell

00:31:39.040 Netware,

00:31:40.060 IPX,

00:31:40.640 many, many

00:31:43.020 different network

00:31:43.660 protocols.

00:31:45.400 The benefit

00:31:46.720 in any

00:31:47.300 system that

00:31:48.340 is networked

00:31:49.320 is connectivity

00:31:50.300 between all

00:31:51.720 the interacting

00:31:53.000 players.

00:31:54.200 And there

00:31:54.820 are still

00:31:55.360 some DECnet

00:31:57.180 networks,

00:31:57.980 there are

00:31:58.200 still some

00:31:58.740 Vanyan Bynes

00:31:59.440 networks globally.

00:32:01.040 They're very

00:32:01.580 small and

00:32:02.260 they're legacy

00:32:03.000 and people

00:32:03.400 can't get rid

00:32:03.980 of them.

00:32:04.580 But the

00:32:04.880 reality is no

00:32:05.600 one cares

00:32:06.200 about them.

00:32:07.780 And that's

00:32:08.380 where we're

00:32:08.860 going to be.

00:32:09.460 If Bitcoin's

00:32:10.060 going to be

00:32:10.700 something,

00:32:11.880 it can't be

00:32:12.720 a promise

00:32:13.620 of a promise.

00:32:15.400 So right

00:32:16.140 now, you

00:32:17.060 have people

00:32:17.500 saying it's

00:32:18.160 going to be

00:32:19.140 valuable because

00:32:19.880 it's going to

00:32:20.460 be more

00:32:20.840 valuable.

00:32:21.980 That doesn't

00:32:23.120 work.

00:32:24.280 If you want

00:32:24.740 Bitcoin to be

00:32:25.440 valuable, it

00:32:26.000 has to be

00:32:26.420 because it's

00:32:26.920 used.

00:32:27.980 Not a

00:32:29.020 promise that

00:32:30.160 in the future

00:32:30.820 we'll solve

00:32:31.380 things, but

00:32:31.900 because it's

00:32:32.500 used, not

00:32:34.260 because it's

00:32:34.960 decentralized.

00:32:36.700 I mean, what

00:32:37.740 does that really

00:32:38.560 even mean?

00:32:40.100 I mean, think

00:32:40.480 about it.

00:32:41.080 There's a

00:32:41.520 way to

00:32:42.060 centralize, but

00:32:42.860 and what

00:32:45.120 do you mean

00:32:45.800 by decentralized?

00:32:48.920 Not that we

00:32:49.820 have everyone

00:32:50.440 voting because

00:32:51.680 you don't do

00:32:52.340 that in Bitcoin.

00:32:53.640 Contrary to the

00:32:54.440 lies people tell

00:32:55.420 you about how

00:32:55.920 everyone gets

00:32:56.520 a say,

00:32:57.540 bull.

00:32:59.200 Everyone

00:32:59.600 doesn't get

00:32:59.960 a say.

00:33:00.300 BTC

00:33:02.040 world, there

00:33:02.840 are three

00:33:03.420 developers who

00:33:04.860 basically sit

00:33:05.620 there and

00:33:06.100 choose what

00:33:06.640 happens.

00:33:08.080 And in a

00:33:09.560 manner, analogous

00:33:10.860 to Stalin, they 0.92

00:33:11.960 sit there and

00:33:12.440 go, you can

00:33:13.320 vote for me.

00:33:15.300 I will do

00:33:16.320 everything I

00:33:17.300 promise to

00:33:17.780 do unless I

00:33:18.840 don't.

00:33:21.080 And if you

00:33:21.740 don't like it,

00:33:22.880 you can vote

00:33:23.760 for me again.

00:33:26.980 How much

00:33:27.700 power and

00:33:28.140 control do

00:33:28.840 three have

00:33:29.420 though?

00:33:30.300 If they

00:33:31.000 lose it,

00:33:31.600 they're furious,

00:33:33.000 they're upset

00:33:33.480 with everybody,

00:33:34.220 what's the

00:33:34.640 worst thing

00:33:35.080 they can

00:33:35.380 do?

00:33:36.600 Whatever

00:33:37.060 they want.

00:33:38.140 Which is?

00:33:39.420 Break the

00:33:40.060 network.

00:33:40.920 So you

00:33:41.600 could essentially

00:33:42.160 break the

00:33:42.620 network if

00:33:43.160 you wanted

00:33:43.460 to.

00:33:44.420 The only

00:33:45.560 control here

00:33:46.320 is legal.

00:33:48.240 So this

00:33:49.040 whole anarchist

00:33:49.800 anti-government

00:33:50.460 bit doesn't

00:33:50.940 work.

00:33:51.860 The reason

00:33:52.820 you can't

00:33:53.480 is because

00:33:54.300 it's really

00:33:55.020 a unilateral

00:33:55.720 contract.

00:33:56.740 It's the

00:33:57.120 same as if

00:33:57.620 I put

00:33:58.000 little

00:33:59.720 stickers up

00:34:00.420 saying

00:34:00.680 lost dog,

00:34:02.020 I'll pay

00:34:02.540 you 50

00:34:03.020 pounds if

00:34:04.120 you find

00:34:04.500 my dog.

00:34:05.580 Now,

00:34:07.020 the contract

00:34:07.580 happens when

00:34:08.320 someone decides

00:34:09.500 to look for

00:34:10.520 the dog and

00:34:11.480 if they find

00:34:12.040 the dog,

00:34:13.200 they're owed

00:34:13.700 50 pounds.

00:34:15.300 But if they

00:34:15.720 don't find the

00:34:16.260 dog, I don't

00:34:16.720 owe them

00:34:17.060 anything.

00:34:17.800 And that's

00:34:18.240 the same

00:34:18.680 thing in

00:34:19.000 Bitcoin.

00:34:19.500 So the

00:34:20.360 developers have

00:34:21.700 a unilateral

00:34:22.780 contract,

00:34:23.860 a promise to

00:34:25.040 the miners

00:34:25.560 in the

00:34:25.860 community

00:34:26.320 that they

00:34:26.980 have to

00:34:27.300 maintain.

00:34:28.900 And right

00:34:29.300 now, they

00:34:31.020 change it

00:34:31.460 all the

00:34:31.700 time.

00:34:32.800 So the

00:34:33.320 only real

00:34:34.180 protection is

00:34:35.340 the fact that

00:34:35.980 someone can

00:34:36.920 sue them,

00:34:37.620 someone can

00:34:38.080 actually hold

00:34:38.920 them to

00:34:39.360 account, and

00:34:40.380 a court can

00:34:41.140 actually tell

00:34:41.680 you, no,

00:34:42.300 you can't do

00:34:43.000 that.

00:34:43.880 The same

00:34:44.260 way Microsoft

00:34:45.340 have been

00:34:46.060 forced to

00:34:46.780 change code,

00:34:48.420 Google have

00:34:49.420 been forced

00:34:49.920 to change

00:34:50.380 code, Amazon,

00:34:52.500 Facebook,

00:34:53.100 all these

00:34:54.640 companies,

00:34:55.280 even small

00:34:55.960 companies, get

00:34:56.560 forced by

00:34:57.160 courts to

00:34:57.620 change code

00:34:58.200 all the

00:34:58.700 time.

00:34:59.660 And sitting

00:35:00.020 there going,

00:35:01.000 you can't

00:35:01.740 make us

00:35:02.040 do.

00:35:02.460 Well, of

00:35:02.860 course you

00:35:03.080 can make

00:35:03.460 them do.

00:35:04.900 Really?

00:35:05.900 I mean, what 1.00

00:35:06.380 a stupid 1.00

00:35:06.900 statement saying 1.00

00:35:07.680 you can't

00:35:08.540 stop us.

00:35:09.120 Well, of

00:35:09.480 course you

00:35:09.780 can.

00:35:10.640 Where do

00:35:11.700 you think

00:35:12.000 you're going

00:35:12.420 to put

00:35:13.100 your code?

00:35:14.360 Where do

00:35:14.660 you think

00:35:14.900 you're going

00:35:15.200 to put

00:35:15.540 your servers?

00:35:17.540 This

00:35:17.980 concept, we

00:35:18.680 can just

00:35:19.080 change the

00:35:19.980 code and

00:35:20.400 have new

00:35:21.080 sort of

00:35:22.740 systems and

00:35:23.780 the hash

00:35:24.700 rate we

00:35:25.300 can move.

00:35:26.500 Really?

00:35:27.680 And what?

00:35:29.260 Then a new

00:35:30.640 commercial entity

00:35:31.420 will come in

00:35:32.040 and have

00:35:33.460 their equipment

00:35:34.160 seized?

00:35:37.820 Exchangers

00:35:38.460 need to

00:35:40.980 access

00:35:41.480 banking.

00:35:44.780 Right now,

00:35:46.700 they can be

00:35:48.580 cut off

00:35:49.020 globally.

00:35:49.760 I used

00:35:53.220 to do a

00:35:53.920 lot of

00:35:54.140 work in

00:35:54.840 the gaming

00:35:55.460 industry,

00:35:55.900 gambling.

00:35:56.760 And I

00:35:57.440 helped set

00:35:57.880 up Lasseter's

00:35:58.800 Casino and

00:35:59.500 I helped

00:35:59.880 other ones,

00:36:01.360 licensed ones.

00:36:02.320 That's the

00:36:02.580 difference.

00:36:03.720 And banking

00:36:05.240 is important.

00:36:07.260 You can be

00:36:08.040 basically cut

00:36:09.320 off at the

00:36:10.000 knees instantly

00:36:11.180 if a

00:36:12.860 government

00:36:13.120 decides they're

00:36:13.820 not going to

00:36:14.540 renew your

00:36:15.040 banking

00:36:15.320 license or

00:36:16.760 exchange

00:36:19.420 license or

00:36:20.180 whatever else.

00:36:21.460 So we

00:36:22.980 can do

00:36:23.360 whatever.

00:36:23.900 It's a

00:36:24.480 myth.

00:36:25.500 A myth to

00:36:26.400 sell something

00:36:27.500 so that they

00:36:28.180 can promote

00:36:28.760 value that

00:36:30.340 doesn't exist.

00:36:31.880 It isn't

00:36:32.960 about we're

00:36:33.740 going to have

00:36:34.440 billions of

00:36:35.460 transactions and

00:36:36.420 everyone will

00:36:37.480 actually be able

00:36:38.200 to sell

00:36:38.720 things online.

00:36:40.480 It is no

00:36:41.420 longer any of

00:36:42.620 these promises

00:36:43.260 that everyone

00:36:44.040 said about

00:36:44.520 global money.

00:36:46.080 Money needs

00:36:46.640 to be used.

00:36:49.080 Money isn't

00:36:50.120 just a store

00:36:51.020 of value.

00:36:51.920 Store of value

00:36:52.400 is a secondary

00:36:53.140 part of money.

00:36:54.640 And it

00:36:55.000 doesn't even

00:36:55.500 mean what

00:36:56.060 these people

00:36:56.460 are saying.

00:36:58.140 Store of

00:36:58.780 value means

00:36:59.940 it stays

00:37:01.340 the same

00:37:02.020 value.

00:37:03.800 The ideal

00:37:05.080 value store

00:37:06.600 in the U.S.

00:37:08.460 is the U.S.

00:37:09.180 dollar.

00:37:10.740 Full stop.

00:37:11.340 Because by

00:37:13.020 definition a

00:37:14.180 store of value

00:37:14.820 in economics

00:37:15.580 means something

00:37:16.940 that a year

00:37:18.460 later from

00:37:19.320 now you

00:37:20.320 will pay

00:37:20.900 that with a

00:37:22.780 contract at

00:37:23.600 the same

00:37:23.960 rate.

00:37:25.040 It will be

00:37:25.860 worth the

00:37:26.520 same.

00:37:27.380 Not more,

00:37:28.540 not less.

00:37:30.040 If it is

00:37:30.600 worth a cent

00:37:31.140 more, it

00:37:33.240 is less

00:37:34.100 of a unit

00:37:35.300 of value

00:37:35.720 than if it

00:37:36.580 was the

00:37:38.040 same thing.

00:37:38.720 If it's

00:37:39.120 worth a cent

00:37:39.600 less, the

00:37:40.300 same.

00:37:42.260 The ideal

00:37:43.260 store of

00:37:43.700 value is

00:37:45.980 a dollar

00:37:46.360 when you're

00:37:47.080 in America.

00:37:48.600 The error

00:37:49.460 people are

00:37:49.920 making is

00:37:50.460 thinking that

00:37:51.040 it's about

00:37:51.640 investment

00:37:52.160 value.

00:37:53.160 Store of

00:37:53.460 value by

00:37:53.880 definition

00:37:54.580 isn't

00:37:55.140 anything to

00:37:55.720 do with

00:37:56.000 investment.

00:37:56.600 It's to

00:37:56.880 do with

00:37:57.180 stability.

00:37:59.640 So what

00:38:01.520 percentage of

00:38:02.320 Bitcoin right

00:38:02.940 now is being

00:38:03.340 used to

00:38:03.720 purchase items?

00:38:05.500 Oh, very,

00:38:07.360 very small.

00:38:07.840 there was

00:38:09.840 more monetary

00:38:11.400 value of

00:38:12.300 Bitcoin spent

00:38:13.260 in 2011

00:38:15.200 than there

00:38:15.700 is now.

00:38:18.300 What's

00:38:19.040 causing that?

00:38:19.600 this mantra

00:38:21.960 of gambling

00:38:22.800 that Bitcoin's

00:38:24.800 a way of

00:38:25.660 making money

00:38:26.280 without tax

00:38:27.140 that whatever

00:38:27.760 else.

00:38:28.380 I think

00:38:28.600 majority of

00:38:29.800 sort of sales

00:38:30.920 are onto

00:38:31.960 exchanges for

00:38:32.920 people wanting

00:38:33.560 to make money

00:38:34.180 without being

00:38:35.140 taxed and

00:38:35.680 things like

00:38:35.980 this.

00:38:36.800 And which

00:38:37.760 is really 0.99

00:38:38.380 stupid because 1.00

00:38:39.200 they're going to 1.00

00:38:39.660 find out that

00:38:40.240 they have no

00:38:40.820 money.

00:38:42.200 The requirements

00:38:43.560 are already in

00:38:44.920 place.

00:38:45.180 the laws

00:38:45.720 are already

00:38:46.360 in place.

00:38:47.340 It takes

00:38:47.640 time to

00:38:48.060 kick in.

00:38:49.020 So in

00:38:50.220 18 months

00:38:52.180 from now,

00:38:53.220 the provisions

00:38:54.220 in money

00:38:55.640 laundry

00:38:55.940 directive

00:38:56.360 number five

00:38:57.240 that hits

00:38:57.880 Europe and

00:38:58.440 Britain,

00:38:59.660 and it

00:39:00.560 will be a

00:39:00.940 criminal act

00:39:01.540 to have

00:39:02.060 wallets that

00:39:03.660 don't link

00:39:04.280 to identity

00:39:04.920 and hold

00:39:06.880 more than

00:39:07.240 150 euros

00:39:08.440 worth of

00:39:09.080 value.

00:39:09.920 There's not

00:39:10.500 much money.

00:39:12.440 Craig, let

00:39:13.080 me ask you,

00:39:13.580 right now,

00:39:13.980 Bitcoin, as of

00:39:14.700 right now,

00:39:15.040 I just ran

00:39:15.460 it, it's

00:39:15.720 9,226,

00:39:17.260 okay, right

00:39:18.060 now.

00:39:19.020 Is Bitcoin

00:39:19.860 more likely

00:39:20.740 to go to

00:39:21.500 $100,000

00:39:22.340 or more

00:39:23.020 likely go to

00:39:24.020 $100?

00:39:27.320 BTC is not

00:39:28.260 going to go

00:39:28.780 to $100,000.

00:39:31.020 Full stop.

00:39:32.580 It's not

00:39:33.340 going to go

00:39:33.640 to $100,000.

00:39:35.080 No.

00:39:36.280 If you're

00:39:36.740 somebody that's

00:39:37.420 an analyst and

00:39:38.340 you're making

00:39:38.700 a prediction,

00:39:39.340 are you saying

00:39:39.800 higher or

00:39:40.480 lower?

00:39:41.720 Lower.

00:39:42.620 How much

00:39:43.160 lower?

00:39:43.460 In time,

00:39:45.220 a lot.

00:39:46.300 The problem

00:39:46.800 is, people

00:39:48.020 don't realize,

00:39:49.320 people forget.

00:39:50.800 So, go

00:39:52.800 back 20

00:39:54.160 years.

00:39:55.740 We had

00:39:56.680 digital money.

00:39:57.880 We had

00:39:58.160 industries doing

00:39:58.960 this.

00:40:00.440 Bigger than

00:40:01.180 now.

00:40:02.500 So, we

00:40:03.920 had e-gold,

00:40:05.340 Mnet, a 0.96

00:40:06.920 whole lot of

00:40:07.340 peer things that

00:40:08.080 were having

00:40:08.860 people invest

00:40:09.560 money into,

00:40:10.940 Ponzi's once

00:40:11.500 again.

00:40:12.420 And with

00:40:13.480 the stock

00:40:14.680 market crash

00:40:15.460 and all the

00:40:15.840 rest, they 1.00

00:40:16.280 went basically

00:40:17.240 bust.

00:40:18.400 They all

00:40:18.740 disappeared.

00:40:19.960 So, just

00:40:20.820 believing things

00:40:21.520 will go up

00:40:21.960 because they'll

00:40:22.400 go up, doesn't

00:40:23.440 work.

00:40:24.880 This is

00:40:25.280 dogfood.com.

00:40:28.400 If you

00:40:29.300 don't have

00:40:29.820 something here

00:40:30.480 that actually

00:40:30.980 makes money,

00:40:32.280 that actually

00:40:32.960 does the

00:40:33.700 work, that

00:40:34.660 is an

00:40:35.100 empty promise,

00:40:36.640 eventually it

00:40:37.240 ends.

00:40:37.540 it means

00:40:40.260 Amazon, not

00:40:42.500 dogfood.com.

00:40:44.820 If you

00:40:45.860 don't have a

00:40:46.400 system that

00:40:47.280 transfers more

00:40:48.500 volume every

00:40:49.600 day at a

00:40:50.580 lower rate,

00:40:51.480 more efficiently,

00:40:53.160 more effectively

00:40:53.820 than, say,

00:40:56.720 Visa and

00:40:58.000 MasterCard and

00:40:59.080 all these other

00:40:59.500 things, if

00:41:00.780 they're not

00:41:01.140 using your

00:41:01.980 system as a

00:41:02.640 transmission

00:41:03.120 system, then

00:41:05.040 eventually someone's

00:41:05.800 going to replace

00:41:06.420 you.

00:41:06.700 sitting there

00:41:07.500 going, we're

00:41:08.000 Bitcoin.

00:41:09.460 No.

00:41:10.600 Sorry.

00:41:11.860 You either

00:41:12.500 build something

00:41:13.440 better or

00:41:14.840 else.

00:41:16.500 That's just the

00:41:17.280 way the world

00:41:17.720 works.

00:41:18.720 You may not

00:41:19.620 like it.

00:41:20.960 Doesn't matter.

00:41:22.260 This is how it

00:41:22.880 is.

00:41:23.360 People are

00:41:23.820 fickle.

00:41:25.240 We want to

00:41:26.440 see you doing

00:41:27.160 things.

00:41:27.500 We want to

00:41:27.980 see you build

00:41:28.500 things.

00:41:29.320 And this

00:41:29.640 concept that

00:41:30.860 there are

00:41:31.260 everyone who

00:41:32.120 will ever get

00:41:32.940 into Bitcoin

00:41:33.720 based on a

00:41:34.920 store of value

00:41:36.120 that goes up

00:41:36.740 on price.

00:41:37.580 The Ponzi

00:41:38.060 scam, they're

00:41:39.460 here.

00:41:40.580 They're no

00:41:41.000 more.

00:41:43.420 They're gone.

00:41:44.540 That's it.

00:41:45.340 The whole

00:41:45.880 everyone you'll

00:41:47.240 be able to

00:41:47.620 scam is right

00:41:48.360 here in

00:41:48.600 Bitcoin.

00:41:50.360 The rest of

00:41:51.200 the people out

00:41:51.720 there don't

00:41:53.060 care.

00:41:54.240 The rest of

00:41:55.040 the people will

00:41:55.560 care when this

00:41:56.780 is digital cash.

00:41:58.880 Not that they

00:41:59.660 make money on,

00:42:00.680 that they use.

00:42:02.740 Until that

00:42:03.380 happens, it's

00:42:05.760 not happening.

00:42:08.220 It's a pretty

00:42:08.780 bold prediction

00:42:09.560 right there to

00:42:10.200 say you are

00:42:11.140 Satoshi Nakamoto

00:42:12.460 and it's

00:42:13.400 $9,226 and

00:42:15.140 it's got more

00:42:15.840 likelihood of

00:42:16.420 going to $100

00:42:17.000 than it does

00:42:17.720 to go to

00:42:18.040 $100,000.

00:42:18.980 I don't

00:42:19.360 consider BTC

00:42:20.140 Bitcoin.

00:42:21.660 I mean,

00:42:22.740 there's no

00:42:23.220 segway in

00:42:23.700 Bitcoin.

00:42:24.420 The concept

00:42:25.220 of what they're

00:42:25.920 selling is not

00:42:26.820 what I created.

00:42:27.620 By the way,

00:42:29.800 how did it

00:42:30.180 become a

00:42:30.780 religion?

00:42:31.380 How did it

00:42:31.760 become such

00:42:32.460 a cult-like

00:42:34.820 following type

00:42:35.640 of a person?

00:42:36.200 Because typically,

00:42:37.280 in order for

00:42:38.100 something to

00:42:38.660 have a cult-like

00:42:39.360 following,

00:42:39.920 there must be

00:42:40.420 a founder

00:42:40.980 that has a

00:42:42.640 cult-like

00:42:43.840 following of

00:42:44.560 a spirit,

00:42:45.340 a.k.a.

00:42:45.960 Steve Jobs,

00:42:47.300 a person who

00:42:49.100 has that

00:42:50.360 aura and

00:42:51.240 that feeling

00:42:51.920 that we're

00:42:52.300 going to

00:42:52.460 take over

00:42:52.880 the world.

00:42:53.700 How did

00:42:54.160 this become

00:42:54.840 that without

00:42:55.300 somebody that

00:42:56.060 was a prophet

00:42:57.300 claiming what

00:42:57.960 this is going

00:42:58.360 to replace?

00:42:59.500 In my

00:43:00.500 absence,

00:43:01.760 people created

00:43:02.840 a mythology.

00:43:05.020 Unfortunately,

00:43:06.780 that's what

00:43:07.480 happened.

00:43:08.380 So,

00:43:09.260 people sit

00:43:10.120 there saying,

00:43:10.840 this is what

00:43:11.480 I meant.

00:43:12.600 No,

00:43:13.140 what I meant

00:43:13.520 was fairly

00:43:14.000 clear.

00:43:14.800 When I

00:43:15.340 argued with

00:43:15.940 people and

00:43:16.460 I said,

00:43:17.320 Bitcoin ends

00:43:18.500 in data

00:43:18.840 centers,

00:43:19.220 I meant

00:43:19.500 Bitcoin ends

00:43:20.380 in data

00:43:20.940 centers.

00:43:21.840 Full stop.

00:43:23.260 I did not

00:43:23.760 mean that

00:43:24.240 everyone sits

00:43:24.780 there at

00:43:25.100 home going,

00:43:26.140 we're going

00:43:26.580 to solve

00:43:27.100 blocks for

00:43:27.560 the sake

00:43:27.880 of it.

00:43:28.880 It's not

00:43:29.480 designed for

00:43:29.980 that.

00:43:30.680 The truth

00:43:31.320 of the matter

00:43:31.720 is that's

00:43:32.500 what people

00:43:32.800 don't want

00:43:33.560 to hear.

00:43:35.080 These people

00:43:35.860 in the whole

00:43:36.920 little cultish

00:43:37.620 version of

00:43:38.060 Bitcoin don't

00:43:38.880 want me to

00:43:39.480 sit there and

00:43:39.900 say the

00:43:40.260 reason for

00:43:40.820 proof of

00:43:41.200 work in

00:43:41.580 Bitcoin is

00:43:43.140 purely and

00:43:43.860 simply to

00:43:44.460 make sure

00:43:44.900 nodes cannot

00:43:45.680 ever be

00:43:47.480 anonymous.

00:43:51.340 The 2016

00:43:53.420 block sort

00:43:55.060 of difficulty

00:43:55.480 adjustment

00:43:55.900 period is

00:43:56.880 so that

00:43:57.200 there can

00:43:57.540 never be

00:43:58.520 more than

00:43:58.860 2,000

00:43:59.380 nodes.

00:44:00.460 In reality,

00:44:01.340 because you

00:44:01.800 have a

00:44:02.120 power law

00:44:02.540 distribution

00:44:03.120 of investment,

00:44:04.860 you never

00:44:05.720 have more

00:44:06.120 than 100.

00:44:08.000 Right now,

00:44:09.040 we have

00:44:09.260 32.

00:44:10.920 From 2011

00:44:12.240 until now,

00:44:13.780 every single

00:44:14.580 node is

00:44:15.100 known.

00:44:17.360 We had

00:44:18.340 98 in that

00:44:19.480 entire period.

00:44:21.480 Nine years,

00:44:22.180 98 nodes.

00:44:24.580 And it's

00:44:24.920 very simple

00:44:25.360 to tell

00:44:25.660 whether you're

00:44:26.080 a node.

00:44:26.680 Have you

00:44:27.040 created a

00:44:27.640 block?

00:44:28.940 Full stop.

00:44:33.240 You say

00:44:33.920 for this

00:44:34.280 thing to

00:44:34.600 work,

00:44:35.040 people got

00:44:36.200 to spend

00:44:36.620 the Bitcoin

00:44:37.580 and purchase

00:44:38.100 things.

00:44:38.800 And not a

00:44:39.720 lot of it

00:44:40.060 is being

00:44:40.600 spent.

00:44:41.020 Is it

00:44:41.220 fair to

00:44:41.520 say it's

00:44:41.820 less than

00:44:42.200 1% of

00:44:43.260 Bitcoins

00:44:43.660 being used

00:44:44.160 to purchase

00:44:44.600 items?

00:44:45.020 Is that

00:44:45.220 a fair

00:44:45.460 assessment?

00:44:46.420 It is a

00:44:46.820 fair assessment,

00:44:47.320 yes.

00:44:47.580 Okay,

00:44:48.180 so if

00:44:48.760 you have

00:44:50.760 the monkey

00:44:51.240 or Satoshi

00:44:51.840 Nakamoto

00:44:52.440 and that

00:44:53.660 as of

00:44:54.200 today,

00:44:54.720 give or

00:44:55.000 take,

00:44:55.440 is worth

00:44:55.860 $8.8

00:44:56.560 billion,

00:44:57.540 how come

00:44:58.520 you're not

00:44:58.920 spending that

00:44:59.860 money purchasing

00:45:00.920 items so

00:45:01.620 it's moving?

00:45:02.820 How come

00:45:03.120 you're not

00:45:03.460 doing it?

00:45:04.580 Well,

00:45:05.180 first of

00:45:05.860 all,

00:45:06.060 I do.

00:45:08.200 Second,

00:45:09.120 you can't

00:45:09.920 actually spend

00:45:10.620 that much

00:45:11.100 money in

00:45:13.660 Bitcoin and

00:45:15.360 derivatives like

00:45:16.000 BTC.

00:45:16.400 the liquidity

00:45:18.300 is not

00:45:18.680 there.

00:45:19.880 You can't

00:45:20.620 go out

00:45:20.980 there and

00:45:21.360 spend a

00:45:21.980 billion dollars,

00:45:23.060 full stop.

00:45:24.960 So if you

00:45:26.080 try and move

00:45:26.720 $100 million,

00:45:27.740 the value of

00:45:28.260 Bitcoin is

00:45:28.740 going to go

00:45:29.260 right down.

00:45:30.980 So there

00:45:31.380 isn't $8

00:45:32.420 billion there.

00:45:33.760 That's just

00:45:34.520 an arbitrary

00:45:35.380 sort of

00:45:36.760 artificial thing

00:45:37.780 that people

00:45:38.200 say.

00:45:39.220 The reality

00:45:39.720 is if

00:45:40.860 even without

00:45:42.520 people knowing

00:45:43.160 it was me,

00:45:43.840 if there's a

00:45:44.240 way of doing

00:45:44.720 it,

00:45:45.180 if I could

00:45:45.620 try and

00:45:46.000 spend

00:45:46.240 everything,

00:45:46.820 there might

00:45:47.120 be $50

00:45:47.580 million out

00:45:48.500 of this

00:45:48.920 if I tried

00:45:50.260 to dump

00:45:50.620 it all

00:45:50.860 at once.

00:45:52.500 If I did

00:45:53.200 it over

00:45:53.520 time,

00:45:53.940 I might

00:45:54.200 be able

00:45:54.460 to get

00:45:54.760 five times

00:45:55.520 that and

00:45:56.020 have

00:45:56.420 $250.

00:45:57.780 That would

00:45:58.320 be it.

00:46:00.500 What's the

00:46:01.040 biggest purchase

00:46:01.740 you've made

00:46:02.100 with a

00:46:02.320 Bitcoin?

00:46:11.400 Paid for a

00:46:12.080 number of

00:46:12.380 things.

00:46:12.520 I've had

00:46:13.200 a rather

00:46:14.800 extravagant

00:46:16.140 holiday.

00:46:18.920 I've got

00:46:19.680 a little

00:46:21.220 bit of

00:46:21.460 artwork.

00:46:26.140 Most of my

00:46:26.920 stuff though

00:46:27.340 is boring.

00:46:28.880 My university

00:46:29.600 fees are probably

00:46:30.460 my biggest

00:46:31.080 expense every

00:46:32.120 year.

00:46:33.400 But amount,

00:46:34.420 even if you

00:46:35.360 don't disclose

00:46:35.900 what it is,

00:46:36.620 what is the

00:46:37.200 amount that was

00:46:37.840 the biggest

00:46:38.260 purchase you

00:46:38.860 were able

00:46:39.140 to make

00:46:39.460 with Bitcoin?

00:46:41.220 Oh,

00:46:42.660 the biggest

00:46:43.700 purchase I'd

00:46:44.360 say would

00:46:44.620 be $50,000.

00:46:45.740 $50,000.

00:46:46.280 Do we know

00:46:47.200 what is the

00:46:47.720 biggest purchase

00:46:48.460 ever made

00:46:49.120 with Bitcoin

00:46:49.800 or no?

00:46:50.220 Is that

00:46:50.400 public info?

00:46:51.700 No,

00:46:52.020 it's not

00:46:52.260 really public,

00:46:52.860 no.

00:46:53.500 So no one

00:46:54.120 would know

00:46:54.480 what kind

00:46:54.820 of a purchase

00:46:55.240 has been

00:46:55.580 made.

00:46:55.880 That's the

00:46:56.140 biggest

00:46:56.380 purchase

00:46:56.720 with Bitcoin.

00:46:58.020 Well,

00:46:58.940 no one

00:46:59.720 would know,

00:47:00.540 but it's

00:47:01.000 not public.

00:47:01.580 This is

00:47:01.820 the whole

00:47:02.080 thing.

00:47:02.400 The ledger

00:47:02.700 doesn't say

00:47:03.440 who said

00:47:04.900 what and

00:47:05.900 who got

00:47:06.340 what and

00:47:06.780 where it

00:47:07.120 went.

00:47:07.340 So there's

00:47:08.600 a ledger

00:47:08.960 information

00:47:09.540 there,

00:47:10.200 but that

00:47:11.400 then aligns

00:47:12.640 with individuals

00:47:13.420 and what

00:47:13.800 they have.

00:47:15.600 Who's been

00:47:16.320 the biggest,

00:47:17.120 most credible

00:47:17.940 source of

00:47:18.980 investor that

00:47:20.000 bought the

00:47:20.520 biggest amount

00:47:21.380 of Bitcoin?

00:47:22.080 Is that

00:47:22.340 public info

00:47:23.000 or no?

00:47:24.800 There are

00:47:25.440 a number

00:47:25.800 of those,

00:47:26.400 but I don't

00:47:26.880 know what

00:47:27.320 the biggest

00:47:27.640 would be.

00:47:28.040 I mean,

00:47:28.340 I wouldn't

00:47:28.660 say investor

00:47:29.240 anyway,

00:47:29.620 I'd say

00:47:29.780 mostly gamblers.

00:47:32.160 Investor,

00:47:32.940 don't know.

00:47:34.340 Sorry.

00:47:35.100 Is Peter Thiel

00:47:36.120 one of the

00:47:36.620 bigger proponents

00:47:37.340 of Bitcoin?

00:47:37.980 Would you

00:47:38.160 say he's

00:47:38.480 one of

00:47:38.780 them?

00:47:40.080 I'd be

00:47:40.620 surprised if

00:47:41.160 he is.

00:47:42.080 You'd be

00:47:42.320 surprised if

00:47:42.860 he is.

00:47:43.240 Is there

00:47:43.700 a well-known

00:47:44.600 person that's

00:47:45.420 an analyst,

00:47:46.240 hedge fund,

00:47:46.780 somebody that

00:47:47.320 came out

00:47:47.720 and said,

00:47:48.320 we're going

00:47:49.120 to go buy

00:47:49.540 this much

00:47:50.000 Bitcoin?

00:47:51.160 You're

00:47:51.520 talking to

00:47:51.920 the wrong

00:47:52.160 person on

00:47:52.680 that.

00:47:53.040 Sorry.

00:47:53.700 Interesting.

00:47:54.220 Interesting that

00:47:54.860 why wouldn't

00:47:57.060 you know that

00:47:57.660 though?

00:47:57.860 That doesn't

00:47:58.560 interest you

00:47:59.020 at all

00:47:59.360 with how

00:48:00.660 investors and

00:48:01.440 analysts look

00:48:02.140 at Bitcoin?

00:48:02.800 not really.

00:48:05.240 I don't see

00:48:05.820 them as

00:48:06.140 investors.

00:48:06.740 I see

00:48:06.980 them as

00:48:07.340 gamblers.

00:48:08.220 So I'm

00:48:08.940 not working

00:48:09.640 in the

00:48:10.080 gaming industry

00:48:10.760 anymore and

00:48:11.460 I don't

00:48:11.900 really care

00:48:12.560 about how

00:48:13.660 people gamble

00:48:14.220 their money.

00:48:15.520 At the end

00:48:16.260 of the day,

00:48:17.160 my purpose

00:48:18.080 is to go

00:48:19.260 out there and

00:48:19.720 build things,

00:48:20.400 to create

00:48:22.020 inventions and

00:48:22.780 whatever else.

00:48:23.840 There's a lot

00:48:24.740 that needs to be

00:48:25.380 done before

00:48:25.960 Bitcoin really

00:48:27.380 succeeds where

00:48:29.340 it needs to

00:48:29.780 be.

00:48:31.420 A lot of

00:48:32.220 the things

00:48:32.720 I've been

00:48:33.020 working on

00:48:33.600 such as

00:48:34.180 properly

00:48:34.920 scaled SPV

00:48:35.940 and whatever

00:48:36.380 else all

00:48:37.560 need to be

00:48:38.040 implemented.

00:48:39.160 And that's

00:48:39.720 going to take

00:48:40.100 quite a number

00:48:40.660 of years.

00:48:42.020 And the

00:48:44.160 technology is

00:48:45.080 far more

00:48:45.720 interesting than

00:48:46.520 how people

00:48:47.800 sort of flip

00:48:48.260 their money.

00:48:49.800 Why don't

00:48:50.460 you sell all

00:48:51.000 your Bitcoin?

00:48:51.800 Why don't

00:48:52.200 you sell it

00:48:52.720 and cash out?

00:48:55.880 And do

00:48:56.540 what?

00:48:56.800 Sell all

00:48:58.560 my Bitcoin

00:48:58.980 and cash

00:48:59.400 out.

00:49:01.260 One, I

00:49:01.980 won't get

00:49:02.360 that much

00:49:02.760 money.

00:49:04.060 Even as

00:49:04.680 an OTC

00:49:05.080 trade, I'd

00:49:05.700 get less.

00:49:06.780 And then

00:49:07.600 what?

00:49:08.600 You just

00:49:09.280 said you

00:49:09.560 have a lot

00:49:09.880 of other

00:49:10.140 technology you'd

00:49:10.900 want to go

00:49:11.260 create.

00:49:11.900 You can use

00:49:12.680 that cord of

00:49:13.180 a billion

00:49:13.480 dollars to

00:49:14.060 go build

00:49:15.060 new technology

00:49:16.120 called...

00:49:16.680 We're building

00:49:16.900 new technology

00:49:17.560 now.

00:49:18.540 I mean,

00:49:18.900 we've already

00:49:19.380 got...

00:49:20.060 Nchain's already

00:49:20.720 several hundred

00:49:22.080 people around

00:49:22.680 the world.

00:49:23.640 We've got

00:49:24.240 offices in

00:49:24.800 multiple

00:49:25.080 continents.

00:49:26.800 We've got

00:49:29.480 over a thousand

00:49:30.720 patent filings

00:49:31.520 now.

00:49:31.880 I mean,

00:49:32.640 your assumption

00:49:34.520 is that

00:49:36.160 selling Bitcoin

00:49:38.060 is necessary.

00:49:40.300 But why

00:49:40.720 wouldn't you?

00:49:41.400 I mean,

00:49:41.660 wouldn't it...

00:49:42.560 It's sitting

00:49:44.480 on it.

00:49:45.180 Isn't that hurting

00:49:46.060 the narrative

00:49:46.720 on the fact

00:49:47.400 that this is not

00:49:48.000 being used

00:49:48.480 as a currency?

00:49:50.320 Why not move it?

00:49:51.160 Why not put it

00:49:51.740 elsewhere?

00:49:52.060 I move

00:49:53.520 Bitcoin now.

00:49:55.300 I spend

00:49:55.800 with Bitcoin

00:49:56.300 where I can.

00:49:57.340 So,

00:49:57.920 again,

00:49:58.600 you're thinking

00:49:59.460 that if I've

00:50:01.000 got money

00:50:01.440 in a bank,

00:50:01.900 I don't go

00:50:02.380 out there

00:50:02.740 every day

00:50:03.220 and see

00:50:03.640 what I can

00:50:04.000 spend.

00:50:05.120 Do you

00:50:05.560 make most

00:50:06.120 of your

00:50:06.320 purchases

00:50:06.720 on Bitcoin

00:50:07.240 or is it

00:50:07.960 the combination

00:50:08.560 cash,

00:50:09.320 credit,

00:50:09.740 Bitcoin?

00:50:10.460 Oh,

00:50:10.800 of course not.

00:50:11.420 I mean,

00:50:11.660 if I could

00:50:12.040 make most

00:50:12.480 of my

00:50:12.700 purchases

00:50:13.060 on Bitcoin,

00:50:13.440 I would.

00:50:14.380 The reality

00:50:15.220 here is

00:50:15.800 I can't.

00:50:17.060 There's

00:50:17.380 actually

00:50:17.760 less opportunity

00:50:19.500 than there

00:50:20.320 was in

00:50:20.880 2013,

00:50:21.860 2014.

00:50:23.560 As the

00:50:24.420 BDC price

00:50:25.300 has gone

00:50:25.680 up,

00:50:25.940 many people

00:50:26.660 have just

00:50:27.040 abandoned

00:50:27.600 the whole

00:50:28.240 concept of

00:50:28.820 using Bitcoin

00:50:29.540 as a

00:50:30.080 monetary

00:50:30.340 system

00:50:30.860 and it's

00:50:32.340 left it

00:50:33.280 with the

00:50:33.560 gamblers.

00:50:34.500 So,

00:50:35.400 it's actually

00:50:36.220 harder to

00:50:36.880 spend Bitcoin

00:50:37.360 right now

00:50:37.880 than it

00:50:38.160 was.

00:50:39.360 What's the

00:50:39.880 biggest

00:50:40.200 commercial

00:50:40.780 company

00:50:41.340 that is

00:50:41.840 allowing

00:50:42.360 purchases

00:50:42.880 being made

00:50:43.420 by Bitcoin?

00:50:44.500 A very

00:50:44.920 well-known

00:50:45.420 company

00:50:45.820 that you

00:50:46.140 can go

00:50:46.460 and buy

00:50:46.680 with

00:50:46.880 Bitcoin?

00:50:47.240 I don't

00:50:50.220 know of

00:50:50.520 any.

00:50:51.440 Don't

00:50:51.740 know any.

00:50:52.340 So,

00:50:52.580 if I

00:50:52.740 wanted to

00:50:53.100 go into

00:50:53.400 Apple,

00:50:54.380 Ford,

00:50:55.700 you know,

00:50:56.240 Walmart,

00:50:57.360 and Amazon,

00:50:58.180 I can't

00:50:58.600 make any

00:50:58.960 to purchase

00:50:59.380 with Bitcoin

00:50:59.880 today.

00:51:00.820 No,

00:51:01.340 and that's

00:51:01.680 a problem.

00:51:02.680 Do you

00:51:02.900 think it's

00:51:03.260 used to

00:51:03.840 be Microsoft,

00:51:04.660 but we

00:51:08.080 made things

00:51:08.500 too difficult.

00:51:11.780 Elaborate

00:51:12.280 if you

00:51:12.500 don't mind.

00:51:13.940 Well,

00:51:14.460 people will

00:51:14.920 take Bitcoin

00:51:15.980 when it's

00:51:16.740 cheap and

00:51:17.060 easy.

00:51:18.180 When you

00:51:18.720 have fees

00:51:19.320 that are

00:51:20.080 variable

00:51:20.560 and go

00:51:21.060 up and

00:51:21.380 down

00:51:21.820 and more

00:51:24.040 than a

00:51:24.340 cent,

00:51:24.840 then you

00:51:25.460 don't have

00:51:25.880 an online

00:51:26.240 cash system

00:51:26.860 anymore.

00:51:30.220 Very

00:51:30.720 interesting.

00:51:31.740 You know,

00:51:32.340 when you

00:51:33.060 did the

00:51:33.980 interview

00:51:34.320 with BBC,

00:51:36.660 Wall Street

00:51:37.100 Journal,

00:51:38.000 I want to

00:51:39.000 say 2016

00:51:39.920 or 2017,

00:51:41.040 I don't

00:51:41.260 know the

00:51:41.580 exact timeline,

00:51:42.320 I think it

00:51:42.660 was around

00:51:42.960 2016 when

00:51:43.620 you did

00:51:43.840 the

00:51:43.980 interview,

00:51:45.280 and,

00:51:45.860 you know,

00:51:46.400 the gentleman

00:51:47.400 that's

00:51:47.720 interviewing

00:51:48.120 you is

00:51:50.580 asking,

00:51:51.100 you know,

00:51:51.340 why are you

00:51:51.720 doing this

00:51:52.080 interview?

00:51:52.760 I said,

00:51:53.280 yeah,

00:51:53.560 I'm doing

00:51:53.920 this interview,

00:51:54.940 but that

00:51:55.620 doesn't mean I

00:51:56.080 have to bounce

00:51:56.600 around in TV

00:51:57.260 cameras.

00:51:57.680 I don't want

00:51:58.200 money.

00:51:58.560 I don't want

00:51:58.960 fame.

00:51:59.380 I don't want

00:51:59.760 adoration.

00:52:00.220 I just want

00:52:00.820 to be left

00:52:01.240 alone.

00:52:02.660 Yes.

00:52:03.080 And then

00:52:03.320 you said,

00:52:04.440 the gentleman

00:52:05.280 asked you,

00:52:05.820 says,

00:52:06.060 why now?

00:52:06.720 Why have

00:52:07.160 you decided

00:52:07.680 to identify

00:52:08.200 yourself as

00:52:08.820 Satoshi Nakamoto?

00:52:10.060 You said,

00:52:10.480 I didn't

00:52:10.920 decide.

00:52:11.940 I had

00:52:12.340 people decide

00:52:13.080 this matter

00:52:13.500 for me,

00:52:14.020 and they're

00:52:14.280 making life

00:52:14.900 difficult,

00:52:15.440 not for me,

00:52:15.980 but my

00:52:16.260 friends,

00:52:16.660 family,

00:52:16.960 and staff.

00:52:17.740 They want

00:52:18.280 to be

00:52:18.480 private.

00:52:18.980 I don't

00:52:19.220 want any

00:52:19.640 one of

00:52:19.920 them to be

00:52:20.320 impacted by

00:52:20.900 this.

00:52:21.260 None of

00:52:21.560 it is

00:52:21.820 true.

00:52:22.540 There are

00:52:22.780 a lot of

00:52:23.080 stories out

00:52:23.600 there that

00:52:23.860 are made

00:52:24.180 up.

00:52:24.680 I'm going

00:52:25.160 to do

00:52:25.460 this once

00:52:25.920 and once

00:52:26.320 only.

00:52:26.840 I'm going

00:52:27.120 to come

00:52:27.540 in front

00:52:27.920 of camera

00:52:28.380 once,

00:52:28.900 and I

00:52:29.160 will never

00:52:29.720 ever be

00:52:30.160 seen on

00:52:30.540 camera ever

00:52:30.980 again for

00:52:31.800 any TV

00:52:32.320 station or

00:52:32.920 any media

00:52:33.500 ever.

00:52:34.480 What

00:52:34.760 changed?

00:52:37.420 Those

00:52:38.020 people didn't

00:52:38.600 stop.

00:52:40.300 Those

00:52:40.900 people kept

00:52:41.800 their BS

00:52:43.040 up.

00:52:44.000 People like

00:52:44.460 Mr. Maxwell

00:52:45.080 and others

00:52:45.580 in core

00:52:46.040 have been

00:52:47.580 attacking me

00:52:48.440 for years

00:52:49.840 now.

00:52:50.480 Not

00:52:50.960 2015 when

00:52:52.040 they released

00:52:52.880 a whole lot

00:52:53.280 of fake

00:52:53.620 information,

00:52:54.360 not right

00:52:54.880 now.

00:52:56.120 They were

00:52:57.980 contacted by

00:52:58.760 the tax

00:52:59.400 office in

00:52:59.860 Australia.

00:53:01.700 I'd been,

00:53:02.660 I actually

00:53:03.360 contacted

00:53:03.960 them.

00:53:04.360 I was

00:53:04.540 talking to

00:53:05.020 the tax

00:53:05.380 office.

00:53:06.280 And of

00:53:06.480 course,

00:53:06.680 the tax

00:53:06.960 office decided

00:53:07.900 to verify

00:53:08.440 things,

00:53:09.060 but instead

00:53:09.420 of doing

00:53:09.640 it properly,

00:53:10.500 they talked

00:53:10.980 to people

00:53:11.540 like Mr.

00:53:11.960 Antonopoulos

00:53:12.580 and Greg

00:53:13.120 Maxwell

00:53:13.500 and things

00:53:13.880 like this,

00:53:14.540 who told

00:53:14.940 them,

00:53:15.320 no,

00:53:15.620 that's not

00:53:15.980 how Bitcoin

00:53:16.560 works.

00:53:17.480 You can't

00:53:18.000 tax Bitcoin.

00:53:19.120 It's all

00:53:19.680 hidden.

00:53:21.120 And this

00:53:21.840 guy's scamming

00:53:22.600 you.

00:53:24.500 And of

00:53:25.140 course,

00:53:25.900 none of

00:53:26.460 those people

00:53:27.080 wanted a

00:53:28.800 version of

00:53:29.560 Bitcoin that

00:53:30.040 was honest

00:53:30.560 and worked

00:53:31.400 within the

00:53:31.780 law and

00:53:32.340 the tax

00:53:33.080 officers

00:53:33.480 could manage.

00:53:34.620 So they

00:53:35.100 made up

00:53:35.560 stories about

00:53:36.320 me and

00:53:36.960 they've been

00:53:37.260 doing it

00:53:37.620 ever since.

00:53:38.160 And so

00:53:40.880 you're coming

00:53:41.340 out to

00:53:41.680 defend the

00:53:42.120 position over

00:53:42.820 and over

00:53:43.100 again?

00:53:44.060 Well,

00:53:44.640 I didn't

00:53:44.940 really even

00:53:45.660 come out.

00:53:46.360 I mean,

00:53:46.940 in December

00:53:48.440 2015,

00:53:49.540 this whole

00:53:50.120 fake swatting

00:53:51.320 and raid.

00:53:52.340 I mean,

00:53:52.620 I moved

00:53:53.140 to the

00:53:54.180 UK here

00:53:54.880 in October

00:53:55.780 2015.

00:53:59.200 And then

00:54:00.080 you have

00:54:00.460 these fake

00:54:01.100 media things.

00:54:01.780 does anyone

00:54:03.280 ever ask

00:54:04.040 why there

00:54:05.040 happens to

00:54:05.580 be a

00:54:06.520 secret raid

00:54:07.400 on someone

00:54:08.060 with television

00:54:09.860 cameras just

00:54:10.600 waiting there?

00:54:13.720 I mean,

00:54:14.060 think about it

00:54:14.600 for a moment.

00:54:15.820 In an

00:54:16.720 empty house.

00:54:17.640 So not

00:54:20.280 where I'm

00:54:20.640 living,

00:54:21.620 not in the

00:54:22.360 country I've

00:54:23.020 been living

00:54:23.420 for months,

00:54:25.040 where everyone

00:54:26.620 knew because

00:54:27.380 all my tax

00:54:29.240 things and

00:54:29.560 everything were

00:54:29.940 finalized.

00:54:31.720 Imagine

00:54:32.280 that you've

00:54:33.920 got camera

00:54:34.500 crews sitting

00:54:35.120 outside somewhere.

00:54:36.140 That means

00:54:36.500 someone's told

00:54:37.540 them these

00:54:37.980 things.

00:54:39.100 Camera crews

00:54:39.540 don't randomly

00:54:40.440 just sit there

00:54:41.080 waiting.

00:54:44.040 So

00:54:44.640 think about

00:54:46.220 this.

00:54:46.520 does that

00:54:47.820 sound like

00:54:48.740 it just

00:54:49.100 randomly

00:54:49.640 happens?

00:54:50.080 Like a

00:54:50.400 whole lot

00:54:50.660 of camera

00:54:50.980 crews are

00:54:51.440 just sitting

00:54:51.820 there waiting

00:54:52.440 for a

00:54:53.160 group of

00:54:54.240 police to

00:54:54.800 run and

00:54:55.860 swat a

00:54:56.960 house?

00:54:58.820 And then

00:54:59.520 stories come

00:55:00.280 out about

00:55:00.720 things?

00:55:01.140 I mean,

00:55:02.180 no one

00:55:03.820 seems to

00:55:04.240 think anymore.

00:55:05.980 They don't

00:55:06.260 question things.

00:55:07.560 They just

00:55:08.080 assume what

00:55:08.740 they're being

00:55:09.360 fed by the

00:55:09.880 media must

00:55:10.400 be correct.

00:55:13.400 What was

00:55:14.520 the media

00:55:14.980 feeling about

00:55:15.660 you?

00:55:15.980 Are you

00:55:17.480 saying the

00:55:17.860 media is

00:55:19.160 feeding people

00:55:19.940 that you

00:55:20.420 are not

00:55:20.860 Satoshi

00:55:21.260 Nakamoto?

00:55:21.860 Or what

00:55:22.180 is the

00:55:22.540 media

00:55:22.760 feeding?

00:55:23.840 That was

00:55:24.280 part of

00:55:24.680 it.

00:55:25.820 We had

00:55:26.320 a lot

00:55:26.680 of

00:55:26.920 people

00:55:29.500 wanting

00:55:29.760 to

00:55:30.100 discredit

00:55:30.600 what I'm

00:55:31.040 doing.

00:55:31.940 So

00:55:31.980 this whole

00:55:34.500 concept is

00:55:35.620 whatever I

00:55:36.360 do is

00:55:36.800 bad.

00:55:38.560 So

00:55:38.840 Satoshi

00:55:40.000 would never

00:55:40.660 patent

00:55:41.080 must be

00:55:42.220 Hell Finney.

00:55:43.860 Hell Finney,

00:55:44.560 of course

00:55:44.960 actually

00:55:45.860 had patents

00:55:46.540 and most

00:55:48.380 of the

00:55:48.720 guys in

00:55:49.180 core have

00:55:49.640 patents

00:55:50.080 and most

00:55:51.400 of the

00:55:51.800 other people 0.89

00:55:52.580 who hypocritically 0.98

00:55:53.780 sit there 0.99

00:55:54.220 saying

00:55:54.620 no,

00:55:56.720 can't be

00:55:57.160 Craig because

00:55:57.900 have patents.

00:55:59.960 Just I do

00:56:00.640 it better.

00:56:01.960 So then

00:56:03.240 they sit

00:56:03.620 there saying

00:56:04.240 oh well

00:56:05.120 you copied

00:56:05.560 this except

00:56:06.100 you don't get

00:56:06.700 a patent

00:56:07.080 by copying

00:56:07.660 something.

00:56:08.080 and it's

00:56:09.380 easy to

00:56:09.800 make the

00:56:10.140 claim saying

00:56:10.800 look this

00:56:11.920 is just

00:56:12.600 a Diffie 0.79

00:56:13.040 Hellman

00:56:13.320 process.

00:56:14.600 Except

00:56:15.120 if you

00:56:16.080 write a

00:56:16.600 patent

00:56:16.900 well,

00:56:17.960 which we

00:56:18.360 do,

00:56:18.940 you have

00:56:19.480 to actually

00:56:19.840 do this

00:56:20.240 section

00:56:20.540 called

00:56:20.820 prior art.

00:56:22.600 And in

00:56:23.320 prior art

00:56:24.060 you put

00:56:24.460 all the

00:56:24.960 things that

00:56:25.460 already

00:56:26.100 exist and

00:56:27.360 you explain

00:56:27.920 why you're

00:56:30.080 different to

00:56:30.540 them.

00:56:31.740 So if you

00:56:32.500 want to have

00:56:32.860 a really

00:56:33.260 good patent,

00:56:33.840 you sit

00:56:35.680 there and

00:56:36.020 you document

00:56:36.700 how things

00:56:37.720 really are

00:56:38.400 now.

00:56:39.480 This is

00:56:39.940 the existing

00:56:41.060 intellectual

00:56:41.620 property.

00:56:42.400 These are

00:56:42.700 the existing

00:56:43.280 inventions.

00:56:44.800 You know

00:56:45.120 like when

00:56:46.280 you document

00:56:46.840 other people's

00:56:47.480 work in

00:56:48.720 other things

00:56:49.140 and you

00:56:49.840 basically put

00:56:50.940 that there

00:56:51.360 and then you

00:56:51.740 say but

00:56:52.260 this is my

00:56:53.220 invention.

00:56:54.680 And what

00:56:55.260 you actually

00:56:55.840 have patented

00:56:56.460 is your

00:56:57.120 invention not

00:56:57.720 the previous

00:56:58.380 things.

00:56:59.880 But most

00:57:01.840 people have

00:57:02.320 never filed a

00:57:03.040 patent.

00:57:03.840 Most people

00:57:04.340 have never

00:57:04.720 done a

00:57:05.080 thesis.

00:57:06.420 So when

00:57:07.600 people sit

00:57:08.100 there and

00:57:08.800 comment on

00:57:09.560 these things

00:57:09.980 it's without

00:57:10.620 knowledge,

00:57:11.700 without

00:57:12.060 understanding.

00:57:13.340 And it's

00:57:13.640 very easy

00:57:14.420 to sit

00:57:15.520 there on

00:57:15.900 social media

00:57:16.480 these days

00:57:17.060 and this is

00:57:17.460 part of the

00:57:17.860 problem with

00:57:18.280 things like

00:57:18.600 Twitter.

00:57:19.600 You can sit

00:57:20.100 there and

00:57:20.440 say oh

00:57:21.100 isn't that

00:57:21.520 terrible.

00:57:22.900 But you

00:57:23.200 don't care

00:57:23.640 about the

00:57:24.040 truth.

00:57:25.100 You don't

00:57:25.440 care about

00:57:26.020 what's

00:57:26.320 real.

00:57:27.580 Because we

00:57:28.520 have this

00:57:28.920 whole culture

00:57:29.520 now of

00:57:30.280 not doing

00:57:31.020 something.

00:57:32.340 Not actually

00:57:32.900 going out

00:57:33.540 there and

00:57:33.880 making a

00:57:34.500 better world

00:57:35.060 because we

00:57:35.880 don't need

00:57:36.520 to anymore.

00:57:37.520 We can

00:57:37.920 click like.

00:57:40.040 I didn't

00:57:40.880 actually have

00:57:41.480 to go out

00:57:42.000 there and

00:57:42.460 help that

00:57:43.340 person because

00:57:44.180 I liked

00:57:45.720 the video of

00:57:46.580 them suffering.

00:57:47.120 I said that

00:57:49.380 it was really

00:57:50.040 terrible.

00:57:51.100 I saw and

00:57:52.300 I felt and

00:57:52.980 I emoted

00:57:53.700 online and

00:57:54.860 I said I

00:57:56.760 feel so

00:57:57.420 bad.

00:57:58.560 And other

00:57:58.920 people came

00:57:59.600 back to me

00:58:00.100 and said we

00:58:01.460 feel bad for

00:58:02.340 you.

00:58:03.660 That's our

00:58:04.360 world now.

00:58:06.260 If we want

00:58:07.080 to go back

00:58:07.480 to a biblical

00:58:07.960 thing it's

00:58:09.640 the good

00:58:09.920 Samaritan

00:58:10.460 except the

00:58:12.360 good Samaritan

00:58:12.960 is the one

00:58:13.360 who isn't

00:58:13.920 on social

00:58:14.500 media.

00:58:15.740 Everyone

00:58:16.300 else walking

00:58:17.240 along.

00:58:19.120 They're the

00:58:19.800 ones who

00:58:20.160 are on

00:58:20.360 social media.

00:58:21.900 The Pharisees 0.95

00:58:22.720 who pass

00:58:23.500 the guy

00:58:23.920 and watch

00:58:24.560 him bleed.

00:58:25.840 But they

00:58:26.160 get back

00:58:26.700 and they

00:58:27.280 tweet about

00:58:27.920 it and

00:58:28.980 they say

00:58:29.360 he was

00:58:30.520 bleeding but

00:58:32.400 I'm really

00:58:33.780 good because

00:58:34.460 I made

00:58:36.020 sure I

00:58:36.500 stayed pure.

00:58:37.160 if I got

00:58:38.540 blood on

00:58:39.060 my hands

00:58:39.720 I wouldn't

00:58:41.020 be able to

00:58:41.920 go to

00:58:43.120 temple on

00:58:43.860 Sabbath.

00:58:45.480 And then

00:58:45.760 the next

00:58:46.320 group come

00:58:46.900 through and

00:58:47.720 they sit

00:58:48.080 there and

00:58:48.440 they say

00:58:48.860 I'm so

00:58:50.160 pure because

00:58:50.860 obviously

00:58:51.700 I'm with

00:58:53.200 other people

00:58:53.780 and we

00:58:54.580 could have

00:58:54.860 been attacked

00:58:55.520 and we

00:58:56.800 want to

00:58:57.100 live in

00:58:57.420 fear don't

00:58:58.220 we?

00:58:58.600 We don't

00:58:58.960 want to do

00:58:59.540 something because

00:59:00.140 poor little

00:59:00.920 me.

00:59:01.980 But it's

00:59:02.860 not just

00:59:03.200 me.

00:59:04.540 What about

00:59:04.900 these people

00:59:05.460 I'm with?

00:59:06.860 What about

00:59:07.280 them?

00:59:08.640 I know

00:59:09.360 there's only

00:59:09.700 probably two

00:59:10.180 attackers and

00:59:10.720 there's like

00:59:11.020 ten of us

00:59:11.600 but what

00:59:14.360 if some of

00:59:15.060 us get

00:59:15.340 hurt?

00:59:17.040 So we

00:59:17.680 walk on.

00:59:20.180 And that's

00:59:20.900 what our

00:59:21.220 world is

00:59:21.600 becoming.

00:59:23.580 We leave

00:59:24.320 the people

00:59:24.700 there.

00:59:25.300 We sit

00:59:25.780 there and

00:59:26.040 we click

00:59:26.480 on people

00:59:27.000 and we

00:59:27.280 say isn't

00:59:28.100 this great

00:59:29.000 because look

00:59:29.700 what I've

00:59:30.060 done.

00:59:30.440 I've helped

00:59:31.140 by clicking

00:59:31.840 like.

00:59:33.460 You haven't.

00:59:34.360 And all

00:59:36.180 these people

00:59:36.540 who think

00:59:36.800 they have

00:59:37.220 you're 1.00

00:59:37.720 scum. 1.00

00:59:39.560 And if 1.00

00:59:39.840 you don't

00:59:40.040 like that

00:59:40.560 get off 0.99

00:59:41.380 your freaking 1.00

00:59:41.900 ass and 1.00

00:59:42.920 do something 0.96

00:59:43.520 about it.

00:59:46.000 What part

00:59:47.360 of the

00:59:47.620 question I

00:59:48.060 asked made

00:59:48.520 you want

00:59:48.780 to go

00:59:49.020 there?

00:59:49.660 I asked

00:59:50.280 you a 0.57

00:59:50.540 question

00:59:50.780 saying about

00:59:51.480 what the

00:59:51.960 media is

00:59:52.500 saying about

00:59:54.140 you and

00:59:54.860 then you

00:59:55.260 went to

00:59:55.700 that part

00:59:56.260 about the

00:59:56.560 Good Samaritan

00:59:57.120 but what

00:59:58.520 made you

00:59:59.620 want to

01:00:00.340 constantly come

01:00:01.400 out and

01:00:01.680 talk about

01:00:02.200 the fact

01:00:02.620 that you're

01:00:02.940 Satoshi

01:00:03.440 Nakamoto.

01:00:05.000 Who cares

01:00:05.420 what they're

01:00:05.800 saying about

01:00:06.560 you?

01:00:07.660 Who said

01:00:08.020 I did?

01:00:09.320 The media.

01:00:09.980 This is all

01:00:10.520 the media.

01:00:10.920 Facebook.

01:00:11.680 All these

01:00:12.060 other things

01:00:12.440 are media.

01:00:13.520 You're saying

01:00:14.140 that I did.

01:00:14.620 I didn't.

01:00:15.640 You didn't

01:00:16.120 come out

01:00:16.500 and say

01:00:16.860 it?

01:00:18.420 You said

01:00:19.100 constantly.

01:00:20.140 I said I

01:00:20.840 would do

01:00:21.420 something and

01:00:21.940 go away and 0.97

01:00:23.160 then no one

01:00:23.800 goes away.

01:00:25.400 So I

01:00:26.440 didn't.

01:00:27.280 All these

01:00:27.820 other people

01:00:28.220 put out other

01:00:28.800 things and

01:00:29.500 whatever else.

01:00:30.720 So I

01:00:31.500 didn't sit

01:00:31.900 there going

01:00:32.340 this is what

01:00:32.900 I'm going

01:00:33.160 to do

01:00:33.480 for you.

01:00:33.860 I'm going

01:00:34.140 to be

01:00:34.380 your great

01:00:34.820 leader.

01:00:35.960 I'm going

01:00:36.480 to lead

01:00:37.400 your revolution.

01:00:38.780 I didn't

01:00:39.200 sit there

01:00:39.580 in 2010

01:00:40.200 coming out

01:00:41.720 and going

01:00:42.000 hey I'm

01:00:42.720 Satoshi

01:00:43.140 I want

01:00:43.440 to give

01:00:43.640 interviews.

01:00:45.840 I didn't

01:00:46.660 do it

01:00:47.120 in 2017

01:00:47.780 even.

01:00:48.360 I didn't

01:00:48.720 want to

01:00:49.200 sit there

01:00:49.620 and say

01:00:49.920 look I

01:00:50.320 am.

01:00:50.600 I was

01:00:50.980 just

01:00:51.180 building.

01:00:52.940 I was

01:00:53.620 building

01:00:54.040 a working

01:00:55.260 version

01:00:55.800 of

01:00:56.360 electronic

01:00:56.800 cash

01:00:57.320 that

01:00:57.900 scales.

01:01:00.020 We're

01:01:00.580 already

01:01:01.060 doing

01:01:02.520 millions

01:01:02.960 of

01:01:03.180 transactions

01:01:03.740 at the

01:01:04.280 moment.

01:01:05.940 Building

01:01:06.580 something

01:01:06.940 that

01:01:07.200 works.

01:01:08.500 But that's

01:01:09.020 what scares

01:01:09.480 people.

01:01:10.820 Because guess

01:01:11.400 what?

01:01:11.820 Something that

01:01:12.460 works kills

01:01:14.340 off all the

01:01:15.140 little false

01:01:15.640 mantras about

01:01:16.940 Ponzi schemes

01:01:18.180 that make you

01:01:18.840 money by doing

01:01:19.820 nothing.

01:01:21.820 So why am I

01:01:23.520 going there?

01:01:23.900 Because this

01:01:24.620 is there.

01:01:26.420 This is what

01:01:27.560 people are

01:01:27.880 doing.

01:01:28.400 The media

01:01:29.520 exists because

01:01:31.220 those people

01:01:32.240 who do

01:01:33.640 nothing,

01:01:34.100 those people

01:01:34.620 who watch,

01:01:35.300 those people

01:01:35.780 who voyeuristically

01:01:36.780 sit there

01:01:37.420 and think that

01:01:38.540 the world

01:01:38.960 is going

01:01:40.820 to move

01:01:42.300 because

01:01:42.720 they watch

01:01:43.660 TV or

01:01:44.580 they watch

01:01:45.000 YouTube or

01:01:45.560 they watch

01:01:46.000 whatever else.

01:01:47.060 That's the

01:01:47.540 problem.

01:01:47.800 So there

01:01:51.940 are a few

01:01:52.840 names involved

01:01:53.720 when it comes

01:01:54.280 down to

01:01:54.580 Satoshi Nakamoto.

01:01:56.460 You're

01:01:56.660 obviously one

01:01:57.320 of them.

01:01:57.640 You mentioned

01:01:58.060 another one,

01:01:59.100 which is

01:01:59.460 Hal Finney,

01:02:00.040 who was also

01:02:00.580 there early

01:02:01.120 at the

01:02:01.400 beginning.

01:02:02.600 And then

01:02:02.880 there's also

01:02:03.380 another one

01:02:04.000 named Dave

01:02:05.700 Kleiman,

01:02:06.960 who I

01:02:07.820 believe Dave

01:02:08.760 sued you

01:02:09.680 for some

01:02:10.140 $5.2

01:02:11.040 billion.

01:02:12.040 Dave's

01:02:12.760 estranged

01:02:13.580 brother.

01:02:15.080 So Dave

01:02:15.500 was my

01:02:15.860 friend.

01:02:16.700 Dave died

01:02:17.300 in 2013.

01:02:22.380 In

01:02:22.900 February

01:02:23.180 2018,

01:02:24.140 the estate,

01:02:24.980 you're

01:02:25.140 right,

01:02:25.360 the estate

01:02:25.740 of Dave

01:02:26.100 Kleiman

01:02:26.480 initiated a

01:02:27.680 lawsuit at

01:02:28.100 the U.S.

01:02:28.480 District

01:02:28.700 Court for

01:02:29.200 Southern

01:02:29.520 District of

01:02:30.040 Florida

01:02:30.360 against

01:02:31.260 right over

01:02:31.840 the rights

01:02:32.300 of $5.118

01:02:33.500 billion worth

01:02:34.360 of Bitcoin

01:02:34.800 claiming that

01:02:35.400 right the

01:02:35.800 frauded

01:02:36.140 climate of

01:02:36.540 Bitcoins

01:02:36.940 and intellectual

01:02:37.880 property

01:02:38.380 rights.

01:02:39.940 Yes,

01:02:40.380 except I

01:02:41.540 won't go

01:02:41.880 into detail

01:02:42.500 on that

01:02:42.820 because it's

01:02:43.180 an ongoing

01:02:43.540 case,

01:02:44.120 but here's

01:02:44.940 the point

01:02:45.200 for you.

01:02:45.820 If you

01:02:46.100 haven't moved

01:02:46.580 it,

01:02:46.780 how have

01:02:47.060 you

01:02:47.180 stolen

01:02:47.440 it?

01:02:48.940 It's

01:02:49.180 like saying,

01:02:50.380 well,

01:02:50.920 here's the

01:02:52.200 bar of gold.

01:02:52.900 It's sitting

01:02:53.260 in the

01:02:53.760 safe deposit

01:02:54.300 box.

01:02:54.860 It has

01:02:55.140 never moved.

01:02:56.480 You must

01:02:57.160 have stolen

01:02:57.540 it because

01:02:57.940 I've lost

01:02:58.340 the keys.

01:03:00.140 You've

01:03:00.640 lost the

01:03:01.000 keys.

01:03:01.640 Not me.

01:03:03.060 They're

01:03:03.520 saying that.

01:03:04.000 They lost

01:03:04.480 the keys,

01:03:05.000 so therefore,

01:03:05.920 you stole

01:03:06.720 it.

01:03:06.920 So they

01:03:08.620 lost the

01:03:09.120 keys to

01:03:09.660 Dave's

01:03:10.040 Bitcoin,

01:03:10.620 but they're

01:03:10.940 saying you

01:03:11.320 stole it.

01:03:12.460 Yes,

01:03:13.780 because it

01:03:14.400 hasn't

01:03:14.660 moved.

01:03:16.040 But do

01:03:16.740 you have

01:03:17.120 the keys

01:03:17.500 to yours

01:03:18.140 or you

01:03:19.000 don't have

01:03:19.580 access to

01:03:20.120 it?

01:03:20.220 Because I

01:03:20.560 know you

01:03:20.780 also told

01:03:21.560 in court

01:03:22.500 testimony

01:03:22.960 last year

01:03:23.740 that you

01:03:23.980 also don't

01:03:24.340 have access

01:03:24.740 to your

01:03:25.200 Bitcoin.

01:03:27.360 That's not

01:03:27.960 exactly what

01:03:28.500 I said

01:03:28.840 and I

01:03:29.960 didn't say

01:03:30.300 they were

01:03:30.500 mine.

01:03:30.840 I said

01:03:31.160 there was

01:03:31.380 a trust.

01:03:33.580 But as

01:03:34.360 I said,

01:03:34.680 I'm not

01:03:34.900 going to

01:03:35.420 go into

01:03:35.960 detail about

01:03:36.680 the court

01:03:37.140 case.

01:03:37.480 It's

01:03:37.580 ongoing.

01:03:38.500 So,

01:03:38.980 okay,

01:03:39.120 let's set

01:03:39.520 the money

01:03:39.940 aside that

01:03:40.520 it's

01:03:40.680 ongoing

01:03:40.960 case,

01:03:41.360 but let's

01:03:41.580 go back

01:03:41.960 to Dave.

01:03:42.420 So yourself,

01:03:43.340 Hal and

01:03:43.700 Dave were

01:03:44.160 involved at

01:03:45.340 the beginning

01:03:45.740 stage with

01:03:46.320 you leading

01:03:46.800 it.

01:03:48.760 Not the

01:03:49.840 way you're

01:03:50.220 making out.

01:03:51.080 There were

01:03:51.320 a few people

01:03:51.780 online.

01:03:53.100 Hal helped

01:03:54.320 in the

01:03:55.180 term.

01:03:56.520 Basically,

01:03:57.120 I sent out

01:03:57.620 code to

01:03:58.660 people that

01:03:59.200 they reviewed.

01:04:00.840 So,

01:04:01.600 was he

01:04:01.880 Satoshi?

01:04:02.460 No.

01:04:03.560 But like

01:04:05.000 many other

01:04:05.400 people,

01:04:05.740 they could

01:04:06.040 have taken

01:04:06.980 an active

01:04:08.120 interest.

01:04:08.640 It was

01:04:08.960 an experimental

01:04:10.340 project at

01:04:11.560 that stage.

01:04:12.800 And if

01:04:13.120 people wanted

01:04:13.560 to be involved,

01:04:14.520 they could

01:04:14.780 have been.

01:04:16.740 So,

01:04:17.340 have you

01:04:17.600 ever met

01:04:18.180 Hal Finney?

01:04:19.580 Not

01:04:20.100 physically,

01:04:20.640 no.

01:04:21.080 Never have.

01:04:22.020 Okay.

01:04:22.420 But Dave

01:04:23.320 was a friend

01:04:23.860 of yours.

01:04:24.700 Yes,

01:04:25.020 Dave was.

01:04:25.820 Okay.

01:04:26.280 Then there's

01:04:26.800 another person

01:04:27.820 that comes

01:04:28.340 out that's

01:04:29.120 Adam Beck.

01:04:30.480 Do you

01:04:30.780 have a

01:04:31.080 relationship

01:04:31.480 with Adam?

01:04:33.660 Only from

01:04:34.480 Twitter and

01:04:34.980 other such

01:04:35.420 things.

01:04:36.500 So,

01:04:36.820 you and

01:04:37.060 Adam have

01:04:37.500 never met

01:04:37.900 each other?

01:04:38.740 Not

01:04:39.140 physically,

01:04:39.640 no.

01:04:40.660 I've

01:04:41.180 jousted

01:04:42.440 with him

01:04:42.760 since 2014

01:04:43.500 online.

01:04:44.800 I spoke

01:04:45.660 with him

01:04:46.480 over email

01:04:47.940 and whatever

01:04:48.340 else in

01:04:48.740 2008.

01:04:50.180 But,

01:04:50.540 no,

01:04:51.220 Adam's not

01:04:53.580 the brightest

01:04:54.460 guy in the

01:04:55.040 bunch.

01:04:55.240 but,

01:04:55.960 unfortunately,

01:04:57.640 he's

01:04:58.240 easily

01:04:58.600 for other

01:04:59.980 people to

01:05:00.400 manipulate,

01:05:01.200 is the best

01:05:01.620 way to put it.

01:05:02.500 Adam's not

01:05:03.200 the brightest

01:05:03.840 guy of the

01:05:04.700 bunch.

01:05:06.120 You're saying

01:05:06.720 Adam is not

01:05:07.480 bright?

01:05:08.160 I mean,

01:05:08.520 you know,

01:05:08.820 listen,

01:05:09.360 when I bring

01:05:10.000 up your name

01:05:10.700 and people 1.00

01:05:11.040 talk shit 1.00

01:05:11.540 about you, 1.00

01:05:12.660 I'm like,

01:05:13.060 listen,

01:05:13.340 you can't

01:05:13.920 say Craig

01:05:14.660 is not

01:05:15.100 brilliant.

01:05:15.400 You can say

01:05:15.920 a lot of

01:05:16.340 things about

01:05:16.740 a lot of

01:05:17.140 people.

01:05:17.420 You can't

01:05:17.820 say Craig

01:05:18.240 is not

01:05:18.540 brilliant.

01:05:19.540 I mean,

01:05:19.800 Adam got

01:05:20.360 his PhD

01:05:21.000 in distributed

01:05:21.660 computing

01:05:22.120 systems,

01:05:23.140 which is a

01:05:23.600 perfect background

01:05:24.240 to build a

01:05:24.760 decentralized

01:05:25.120 computer

01:05:25.580 network.

01:05:26.080 I mean,

01:05:26.320 Adam's...

01:05:27.020 No,

01:05:27.600 actually,

01:05:27.960 that's not...

01:05:29.780 That's what

01:05:30.400 he says

01:05:30.700 now.

01:05:32.840 So,

01:05:33.680 Adam's

01:05:34.180 thing is

01:05:35.580 on a

01:05:36.240 type of

01:05:37.120 parallel

01:05:37.560 code system

01:05:38.540 that has

01:05:38.820 nothing to

01:05:39.520 do with

01:05:39.740 anything like

01:05:40.260 Bitcoin.

01:05:41.220 And Adam

01:05:42.180 didn't invent

01:05:43.420 proof-of-work,

01:05:44.540 contrary to

01:05:44.880 what he says.

01:05:45.700 The system

01:05:46.440 in Bitcoin

01:05:47.140 isn't the

01:05:48.440 system that

01:05:49.080 Adam invented

01:05:49.660 in hash

01:05:50.100 cash.

01:05:50.800 Adam was

01:05:51.260 the only

01:05:52.500 one who

01:05:52.900 answered my

01:05:53.640 emails

01:05:54.040 at the

01:05:54.380 time.

01:05:55.100 The system

01:05:56.000 used in

01:05:56.420 Bitcoin is

01:05:57.200 by Aurora

01:05:58.100 et al.,

01:05:59.040 which was

01:06:00.020 years before

01:06:00.820 Adam's.

01:06:01.860 Now,

01:06:02.320 they actually

01:06:02.740 had exactly

01:06:05.160 analogous,

01:06:05.920 apart from

01:06:06.460 different

01:06:07.160 SHA

01:06:07.700 algorithm,

01:06:08.800 the same

01:06:09.960 sort of

01:06:10.640 methodology of

01:06:11.720 taking the

01:06:12.320 number of

01:06:12.640 zeros and

01:06:13.120 whatever else.

01:06:14.000 Adam,

01:06:14.260 on the other

01:06:14.560 hand,

01:06:15.280 had a

01:06:15.820 proof-of-work

01:06:16.220 system where

01:06:16.680 he matched

01:06:17.020 up words

01:06:17.680 and basically

01:06:20.580 sold tokens

01:06:22.600 individually.

01:06:23.740 It was

01:06:23.940 more along

01:06:24.840 the lines

01:06:25.280 of Tim

01:06:25.660 May's

01:06:26.080 idea of

01:06:26.540 everyone

01:06:26.780 having

01:06:27.060 their

01:06:27.240 own

01:06:27.400 money.

01:06:29.080 That's

01:06:29.660 Adam.

01:06:30.640 Yes.

01:06:32.020 But Adam

01:06:32.640 doesn't admit

01:06:33.500 this.

01:06:34.440 Adam tries

01:06:35.300 to gloss

01:06:36.180 over everything

01:06:36.900 and say,

01:06:37.900 yes,

01:06:38.140 I invented

01:06:38.780 that form

01:06:39.360 of proof-of-work

01:06:40.980 and basically

01:06:42.460 Bitcoin's just

01:06:43.600 hash cash

01:06:44.300 with a couple

01:06:46.100 other enhancements

01:06:47.440 and of

01:06:48.860 course,

01:06:49.480 so therefore

01:06:49.940 it's all

01:06:50.300 mine.

01:06:51.040 So,

01:06:51.920 that's

01:06:52.280 Adam.

01:06:55.000 Okay,

01:06:55.840 so in

01:06:56.600 2016,

01:06:57.660 Financial

01:06:57.940 Times cited

01:06:58.540 back as

01:06:58.980 potential

01:06:59.420 Nakamoto

01:06:59.900 candidate

01:07:00.400 along with

01:07:01.020 Nick Szabo

01:07:01.780 and Hal

01:07:02.800 Finney.

01:07:03.140 No,

01:07:03.740 they didn't.

01:07:04.800 A

01:07:04.960 contributor.

01:07:06.380 So,

01:07:06.640 Financial

01:07:06.940 Times

01:07:07.320 contributor.

01:07:08.660 That's

01:07:09.260 basically like

01:07:09.860 an

01:07:10.140 advertiser.

01:07:11.480 So,

01:07:12.340 an

01:07:12.560 advertiser

01:07:13.400 in

01:07:13.800 Financial

01:07:14.200 Times,

01:07:14.860 not

01:07:15.200 staff,

01:07:16.160 not a

01:07:16.820 writer,

01:07:18.440 see,

01:07:18.680 this is

01:07:18.880 the problem

01:07:19.240 with

01:07:19.440 Forbes

01:07:19.760 and

01:07:19.940 Financial

01:07:20.260 Times

01:07:20.580 and

01:07:20.680 whatever

01:07:20.840 else.

01:07:21.220 They

01:07:21.360 allow

01:07:21.920 people

01:07:22.220 to

01:07:22.420 blog

01:07:22.860 for

01:07:23.160 money

01:07:23.460 on

01:07:24.020 their

01:07:24.220 sites.

01:07:25.640 So,

01:07:26.360 and they

01:07:26.760 sit there

01:07:27.160 calling this,

01:07:28.360 like people

01:07:28.800 say that

01:07:29.320 Financial

01:07:30.020 Times said,

01:07:30.620 no,

01:07:30.800 they didn't.

01:07:31.720 There's

01:07:31.900 little tiny

01:07:32.440 links up

01:07:32.900 the top

01:07:33.180 saying

01:07:33.400 contributors

01:07:33.920 and things

01:07:34.260 like this.

01:07:35.800 No.

01:07:37.580 Contributors

01:07:38.100 are just

01:07:39.520 advertisers.

01:07:40.500 They're just

01:07:40.780 shilling.

01:07:43.620 Then it

01:07:44.260 says,

01:07:44.540 in 2020,

01:07:45.440 a YouTube

01:07:45.860 channel called

01:07:46.740 Barely

01:07:47.260 Sociable

01:07:48.040 claimed that

01:07:49.200 Back

01:07:49.700 was

01:07:50.380 Nakamoto,

01:07:51.120 Back

01:07:51.380 denied it.

01:07:52.900 Craig Wright

01:07:54.080 had sued

01:07:54.880 Back because

01:07:55.580 Back stated

01:07:56.240 that Wright

01:07:56.800 was not

01:07:57.300 Nakamoto,

01:07:58.040 with Wright

01:07:58.540 subsequently

01:07:59.240 dropping to

01:07:59.860 suit.

01:08:00.100 Does that

01:08:00.340 also contribute

01:08:01.020 or did

01:08:01.420 that happen?

01:08:01.900 not exactly

01:08:03.780 the way it

01:08:04.200 was.

01:08:05.780 What actually

01:08:06.540 happened was

01:08:07.180 we couldn't

01:08:08.080 get hold

01:08:08.780 of Back

01:08:09.240 to serve

01:08:09.780 him.

01:08:10.980 I was

01:08:11.800 attempting

01:08:12.400 to sue

01:08:13.740 him for

01:08:13.980 defamation,

01:08:14.860 not because

01:08:15.380 he didn't

01:08:15.940 call me

01:08:16.480 Satoshi

01:08:17.380 or whatever

01:08:17.680 else,

01:08:17.980 which I

01:08:18.220 didn't care.

01:08:21.320 But

01:08:21.880 the same

01:08:23.820 day we

01:08:24.240 couldn't

01:08:25.420 track him

01:08:25.840 down,

01:08:26.800 the same

01:08:27.420 day that

01:08:28.500 we gave

01:08:30.140 up trying

01:08:30.580 to find

01:08:31.100 him and

01:08:32.280 serve him

01:08:33.040 and filed

01:08:34.080 in the

01:08:34.360 court that

01:08:34.720 we were

01:08:35.100 giving up

01:08:36.460 wasting money

01:08:37.620 running after

01:08:38.140 the world

01:08:38.400 trying to

01:08:38.720 get him

01:08:39.080 as he

01:08:39.660 hid.

01:08:40.680 He got

01:08:41.420 served.

01:08:43.480 Ironically,

01:08:44.600 it wasn't

01:08:48.240 quite the

01:08:48.640 way they're

01:08:48.940 making out.

01:08:50.080 Are you

01:08:50.480 saying it's

01:08:50.920 not right

01:08:51.440 about Adam

01:08:51.960 Back that

01:08:52.380 he doesn't

01:08:52.800 have a PhD

01:08:53.340 in distributing

01:08:53.880 computing

01:08:54.300 systems?

01:08:55.100 It's not

01:08:55.760 distributed

01:08:56.180 computing

01:08:56.620 systems,

01:08:57.120 no.

01:08:57.260 it is

01:08:58.160 to do

01:08:58.940 with

01:08:59.200 parallel

01:09:00.160 code.

01:09:01.120 So,

01:09:01.980 no.

01:09:02.700 It's again,

01:09:03.880 take a

01:09:04.340 PhD,

01:09:05.120 yes.

01:09:06.560 Yes,

01:09:07.160 it's a

01:09:07.440 computer

01:09:07.680 science

01:09:08.080 one.

01:09:08.740 No,

01:09:09.420 it's not

01:09:09.820 in this

01:09:10.100 area.

01:09:11.180 No,

01:09:11.700 hashcash

01:09:12.220 is not

01:09:12.720 a distributed

01:09:13.160 computing

01:09:13.560 system.

01:09:14.360 No,

01:09:15.300 hashcash

01:09:15.840 isn't

01:09:16.360 the proof

01:09:17.140 of work

01:09:17.420 system used

01:09:17.960 in Bitcoin.

01:09:19.600 So,

01:09:20.260 did you

01:09:20.580 get a

01:09:20.900 PhD

01:09:21.240 yourself

01:09:21.900 in

01:09:22.420 computing

01:09:24.820 systems

01:09:25.300 or no,

01:09:25.680 yourself?

01:09:26.080 Computer

01:09:27.400 Science

01:09:27.740 and

01:09:27.880 Economics.

01:09:29.100 Okay,

01:09:29.460 because then

01:09:29.940 there's another

01:09:30.480 thing that

01:09:31.000 was sent

01:09:31.400 over to

01:09:31.800 me is

01:09:32.080 the fact

01:09:32.460 that the

01:09:32.940 Wright

01:09:33.800 claimed to

01:09:34.260 have a

01:09:34.480 PhD

01:09:34.760 in

01:09:34.940 computer

01:09:35.180 science

01:09:35.460 from

01:09:35.620 Charles

01:09:35.900 Stewart

01:09:36.100 University

01:09:36.560 on his

01:09:36.920 LinkedIn

01:09:37.120 profiles

01:09:37.560 of

01:09:37.740 2015,

01:09:38.300 but the

01:09:38.500 university

01:09:38.820 told Forbes

01:09:39.420 that it

01:09:39.620 was only

01:09:39.920 awarded...

01:09:40.760 No,

01:09:41.020 no,

01:09:41.200 the university

01:09:41.880 told nobody.

01:09:44.680 Forbes

01:09:45.120 didn't write

01:09:46.500 anything.

01:09:47.500 A

01:09:47.700 contributor

01:09:48.200 using Forbes

01:09:50.100 made for an article.

01:09:52.100 This was also

01:09:53.400 contributor?

01:09:54.720 Yes.

01:09:55.280 Have a look at the

01:09:55.840 top of the thing

01:09:56.360 where it says

01:09:56.760 contributor.

01:09:57.560 People keep

01:09:58.900 saying that

01:09:59.660 these things

01:10:00.220 are real.

01:10:01.220 They don't

01:10:01.560 understand that

01:10:02.400 just because

01:10:02.960 it says

01:10:03.300 Forbes,

01:10:04.260 Forbes are

01:10:04.860 selling their

01:10:05.540 brand now

01:10:06.480 to get money

01:10:07.240 because that's

01:10:08.660 what they do

01:10:09.120 these days.

01:10:09.800 Which,

01:10:10.100 by the way,

01:10:10.460 you are right

01:10:10.960 about that.

01:10:11.540 So,

01:10:11.720 I'm giving you

01:10:12.400 credit.

01:10:12.780 The fact that

01:10:13.220 there are

01:10:13.480 contributors

01:10:13.980 that you can

01:10:14.460 pay $2,000

01:10:15.320 or $4,000

01:10:16.220 to say,

01:10:17.820 I'm a writer

01:10:18.340 for Forbes,

01:10:19.140 but you can

01:10:20.140 write anything

01:10:20.600 you want.

01:10:21.040 There's not

01:10:21.320 really an

01:10:21.660 approval process.

01:10:23.080 It's terrible.

01:10:24.340 Yeah,

01:10:24.560 but then it says

01:10:25.160 the University

01:10:25.580 told Forbes

01:10:26.000 that only

01:10:26.340 awarded two

01:10:26.880 master's degree

01:10:27.560 and not a

01:10:27.960 doctorate.

01:10:28.400 Write PhD

01:10:29.060 from CSU

01:10:29.720 was finally

01:10:30.200 awarded

01:10:30.540 February 2017.

01:10:32.120 Is there

01:10:32.420 accuracy to this

01:10:33.220 or no?

01:10:33.460 Because I know

01:10:33.740 you were saying

01:10:34.100 you're still

01:10:34.400 going to

01:10:34.640 university.

01:10:35.960 One,

01:10:36.540 it was three

01:10:37.040 masters.

01:10:37.640 I had to

01:10:38.040 drop one

01:10:38.720 because other

01:10:40.880 people complained

01:10:41.700 that I was

01:10:42.120 actually enrolled

01:10:42.740 in multiple

01:10:43.220 degrees,

01:10:43.880 which I was.

01:10:44.620 The university

01:10:45.200 did know

01:10:45.820 about it,

01:10:46.440 but the

01:10:47.880 pressure on

01:10:48.400 the university

01:10:48.980 I

01:10:49.760 dropped

01:10:50.900 that one

01:10:51.800 like one

01:10:53.380 and a half

01:10:53.700 courses

01:10:54.080 before I

01:10:54.680 was finished

01:10:55.060 it.

01:10:56.900 The

01:10:57.520 submission

01:11:00.520 of my doctorate

01:11:01.320 for that

01:11:01.580 one was done

01:11:02.200 earlier.

01:11:03.100 What I said

01:11:03.760 was I had a

01:11:04.240 doctorate.

01:11:04.740 My doctorate,

01:11:05.780 the other

01:11:06.060 one,

01:11:06.360 which I

01:11:07.120 wasn't

01:11:07.640 arguing about,

01:11:09.740 which people 0.91

01:11:10.280 bitch about 1.00

01:11:10.880 because it's 1.00

01:11:11.420 not computer

01:11:11.820 science,

01:11:12.340 was theology.

01:11:12.940 I also

01:11:14.540 have many

01:11:15.120 other degrees

01:11:15.840 at the

01:11:16.160 same time.

01:11:17.020 I still

01:11:17.320 study.

01:11:17.960 I'm not

01:11:19.040 out of

01:11:19.400 university

01:11:19.840 yet.

01:11:20.340 I'm still

01:11:20.740 in there.

01:11:22.060 I'm actually

01:11:23.080 writing my

01:11:24.820 thesis in

01:11:25.620 law over

01:11:27.940 here in the

01:11:28.320 UK at the

01:11:28.880 moment.

01:11:30.360 So I have

01:11:32.020 multiple things.

01:11:32.680 You just

01:11:32.880 don't know

01:11:33.340 half of what

01:11:33.820 I had.

01:11:34.940 And I

01:11:35.500 don't actually

01:11:36.040 manage any

01:11:36.900 of my

01:11:37.260 social media

01:11:37.920 other than

01:11:38.520 Slack.

01:11:39.520 So I

01:11:41.200 can't even

01:11:41.600 say what

01:11:42.140 was on

01:11:42.800 anything like

01:11:43.320 that.

01:11:43.600 I don't

01:11:43.840 know.

01:11:44.360 I mean,

01:11:44.560 I don't

01:11:44.860 run

01:11:45.080 LinkedIn.

01:11:45.680 I don't

01:11:46.000 run

01:11:46.200 Facebook.

01:11:47.320 I don't

01:11:47.980 have a

01:11:48.220 Twitter

01:11:48.380 account.

01:11:49.160 So I

01:11:50.400 won't vouch

01:11:51.040 for anything

01:11:51.560 that any of

01:11:52.080 these things

01:11:52.500 say because

01:11:53.460 I don't run

01:11:55.040 social media.

01:11:56.300 I was on

01:11:56.860 Twitter for a

01:11:57.360 while and

01:11:58.500 that's it.

01:11:59.540 Sorry.

01:12:00.360 But by the

01:12:00.720 way, you're

01:12:01.640 obviously very

01:12:02.300 interesting

01:12:02.800 individual.

01:12:04.400 October

01:12:04.760 1970.

01:12:05.620 I'm also an

01:12:06.040 October baby.

01:12:06.720 What day in

01:12:07.440 October were

01:12:07.960 you born?

01:12:09.000 23rd.

01:12:09.920 You're 23rd.

01:12:10.940 Interesting.

01:12:12.400 October 23rd.

01:12:13.660 And yourself?

01:12:14.780 Say that

01:12:15.280 again?

01:12:15.920 And yourself?

01:12:16.740 I'm 18th.

01:12:17.520 I'm five days

01:12:18.140 before you

01:12:18.580 except not

01:12:19.020 70.

01:12:19.520 I'm 78.

01:12:20.220 So we're

01:12:20.500 eight years

01:12:20.900 apart.

01:12:21.960 You are

01:12:22.380 eight years,

01:12:23.380 seven years

01:12:24.220 and 51 weeks

01:12:25.260 older than

01:12:25.720 me.

01:12:26.660 To be exact,

01:12:27.420 I know you're

01:12:27.820 numbers guy.

01:12:28.600 I had to give

01:12:28.960 you the exact

01:12:29.380 numbers so we're

01:12:30.600 accurate there.

01:12:31.540 So going back

01:12:32.380 to this Adam

01:12:32.900 back, it's very

01:12:33.600 interesting when I

01:12:34.340 look at this.

01:12:35.480 You know,

01:12:35.760 here's what

01:12:36.520 I don't think

01:12:40.520 this is a best

01:12:41.600 friend of yours,

01:12:42.340 John McAfee.

01:12:43.160 It is somebody

01:12:43.660 you know of,

01:12:44.360 John McAfee.

01:12:45.440 John is a 1.00

01:12:47.040 scamming bastard 1.00

01:12:48.040 and there's 1.00

01:12:48.580 no nice thing

01:12:49.780 to ever say

01:12:50.460 about John.

01:12:51.060 I mean,

01:12:53.420 John hasn't

01:12:55.420 done anything

01:12:55.940 good in his

01:12:56.540 life that I

01:12:58.000 know of.

01:12:58.820 I mean,

01:12:59.140 he's taken

01:12:59.800 other people's

01:13:00.380 code and

01:13:00.800 bloody McAfee 0.83

01:13:02.140 and scammed 0.57

01:13:02.760 people out of

01:13:03.300 things there

01:13:03.820 and then he's

01:13:04.320 scamming people

01:13:04.920 again.

01:13:06.180 His whole thing

01:13:06.900 is how do I

01:13:07.500 make money

01:13:08.020 quickly?

01:13:09.700 Here's one

01:13:10.340 thing he did

01:13:10.880 say.

01:13:11.140 By the way,

01:13:11.400 we've had

01:13:11.720 John McAfee

01:13:12.380 on when we

01:13:13.000 went to his

01:13:13.460 place and it's

01:13:14.040 a very

01:13:14.580 interesting

01:13:15.040 interview.

01:13:15.940 It's the only

01:13:17.480 time where

01:13:17.880 somebody knocked

01:13:18.440 on a door

01:13:18.940 and one of

01:13:20.180 his guys ran

01:13:20.820 to the door

01:13:21.220 with a gun

01:13:21.700 in his hand

01:13:22.180 which is quite

01:13:22.880 unique.

01:13:23.500 We've never

01:13:23.780 had that before

01:13:24.360 in the middle

01:13:24.640 of an interview.

01:13:25.620 Here's what he

01:13:26.160 did say.

01:13:26.740 When a guy

01:13:27.140 asked him

01:13:27.720 who is

01:13:28.380 Satoshi Nakamoto,

01:13:30.060 he said in

01:13:30.600 Satoshi's white

01:13:31.440 paper,

01:13:31.880 every word

01:13:32.520 that has

01:13:32.900 dual spellings

01:13:33.740 for American

01:13:34.400 and British

01:13:34.980 English is

01:13:35.780 British.

01:13:36.860 Every sentence

01:13:37.600 is followed

01:13:38.220 by two spaces.

01:13:39.980 There are only

01:13:40.580 two of the

01:13:41.220 Q's that are 0.98

01:13:42.060 British and

01:13:43.280 only one of

01:13:44.200 those two

01:13:45.060 has two spaces

01:13:46.440 in every single

01:13:47.600 of his papers.

01:13:48.940 run some

01:13:49.720 authoring

01:13:50.340 software which

01:13:51.660 he's eluding

01:13:52.540 to back

01:13:53.920 being the

01:13:54.800 Satoshi Nakamoto.

01:13:56.620 I mean,

01:13:57.200 because you're

01:13:58.060 from Australia,

01:13:58.820 he's from UK,

01:13:59.680 you know,

01:13:59.840 he's from Britain,

01:14:00.500 so there's a

01:14:01.400 little bit of

01:14:01.880 that when you

01:14:02.280 look at the

01:14:02.780 data on how

01:14:03.400 he wrote

01:14:03.820 code,

01:14:04.300 how it could

01:14:05.240 go back

01:14:05.700 to being

01:14:06.040 him.

01:14:06.400 What are

01:14:06.580 your thoughts

01:14:06.960 on that?

01:14:09.720 Number one,

01:14:11.220 I write

01:14:12.120 with double

01:14:13.280 space or

01:14:13.720 single space

01:14:14.260 depending on

01:14:14.880 what I'm

01:14:15.200 publishing.

01:14:15.560 I write

01:14:17.380 in English,

01:14:18.900 UK English

01:14:20.320 or American

01:14:22.220 English depending

01:14:22.860 on where I'm

01:14:23.340 writing.

01:14:24.760 I am

01:14:26.360 writing with

01:14:28.200 some US

01:14:29.880 universities at

01:14:30.800 the moment

01:14:31.140 and when I

01:14:31.920 do that,

01:14:32.540 I produce in

01:14:33.960 APA 7 at

01:14:34.940 the moment

01:14:35.340 and that

01:14:37.360 is different

01:14:38.120 to the

01:14:39.280 standard I

01:14:40.020 use when I'm

01:14:40.900 writing here

01:14:41.380 in Leicester

01:14:41.880 and Leicester

01:14:43.460 is a

01:14:44.180 British

01:14:44.360 university

01:14:44.920 so that

01:14:46.320 because it's

01:14:47.140 a law

01:14:47.480 degree

01:14:47.900 requires

01:14:48.740 different

01:14:49.380 things.

01:14:49.920 So I write

01:14:50.280 basically on

01:14:51.360 what I have

01:14:52.240 to write.

01:14:53.080 So when I'm

01:14:53.560 publishing in a

01:14:54.200 certain type

01:14:54.740 of paper,

01:14:55.120 I publish

01:14:55.640 a certain

01:14:56.020 way.

01:14:57.460 Now,

01:14:58.080 my choice

01:14:59.280 would have

01:15:00.560 been Australian

01:15:01.120 English at

01:15:01.980 the beginning

01:15:02.380 which is

01:15:03.160 basically British

01:15:03.860 English with

01:15:04.440 a few

01:15:05.120 extra words

01:15:06.320 but in

01:15:09.600 2008,

01:15:11.240 I was

01:15:11.780 completing my

01:15:13.340 Masters of 0.61

01:15:14.760 Law at

01:15:15.660 Northumbria in

01:15:16.760 the UK and

01:15:18.320 so most of

01:15:19.860 how I wrote

01:15:20.400 was how I

01:15:21.900 would write

01:15:22.380 when I'm

01:15:23.360 doing law

01:15:23.920 sometimes for

01:15:25.220 accounting

01:15:25.720 purposes.

01:15:27.940 Interesting.

01:15:28.600 Interesting to

01:15:29.220 know that when

01:15:29.800 you're sharing

01:15:30.400 that but again

01:15:30.940 that was that

01:15:31.520 perspective and

01:15:32.140 then I'll give

01:15:32.520 you this last

01:15:32.960 one here and

01:15:33.300 then we'll go

01:15:33.640 into a speed

01:15:34.060 round.

01:15:34.360 is here's

01:15:37.200 about Adam

01:15:37.940 Back.

01:15:38.460 So, you

01:15:39.620 know, Adam

01:15:40.360 has no clue

01:15:41.120 about Bitcoin.

01:15:42.200 I mean, you

01:15:42.780 can waste all

01:15:43.320 the time you

01:15:43.780 want going

01:15:44.240 Adam Back

01:15:45.060 has this,

01:15:45.560 that and

01:15:45.740 the other.

01:15:46.780 Adam Back

01:15:47.240 doesn't have a

01:15:48.600 clue about how

01:15:49.700 Bitcoin works.

01:15:50.360 He has no

01:15:50.980 idea about the

01:15:51.580 economics of

01:15:52.100 the system,

01:15:52.820 the legality

01:15:53.360 of the system.

01:15:54.380 He doesn't

01:15:55.000 have an idea

01:15:55.900 how any of

01:15:56.680 it works.

01:15:58.860 And

01:15:59.100 basically,

01:16:01.240 he didn't

01:16:02.520 even realize

01:16:03.280 that the,

01:16:04.360 proof of

01:16:05.920 work system

01:16:06.480 in Bitcoin

01:16:07.060 isn't like

01:16:08.420 his.

01:16:09.400 So, if

01:16:10.500 he was such

01:16:11.080 an expert

01:16:11.480 in it, why

01:16:12.160 didn't he

01:16:12.560 actually pick

01:16:13.040 up on the

01:16:13.420 differences?

01:16:14.840 So, sorry.

01:16:18.620 No, he's

01:16:19.340 not doing

01:16:19.740 it to hide.

01:16:20.840 He really

01:16:21.500 doesn't even

01:16:22.920 understand the

01:16:23.800 basics of

01:16:24.320 Bitcoin.

01:16:26.220 Yet.

01:16:27.140 He doesn't

01:16:27.760 even understand

01:16:28.600 the basics

01:16:29.220 of Bitcoin.

01:16:30.100 That's a,

01:16:30.640 that's a,

01:16:31.480 that's a pretty

01:16:31.940 strong statement

01:16:32.720 to say

01:16:33.180 that.

01:16:34.360 That's

01:16:34.800 being really

01:16:35.360 nice.

01:16:36.640 This is

01:16:36.960 camera.

01:16:38.560 Really?

01:16:39.120 Like, you're

01:16:39.740 going there

01:16:40.220 without him

01:16:40.660 back.

01:16:42.620 To say he

01:16:43.420 has no clue

01:16:43.880 what he's

01:16:44.160 doing, it

01:16:44.420 comes down

01:16:44.720 to Bitcoin.

01:16:46.280 Adam came

01:16:46.880 into this

01:16:47.420 in 2013

01:16:48.560 and

01:16:50.000 basically,

01:16:51.540 the whole

01:16:51.960 thing was,

01:16:52.840 I got

01:16:53.220 mentioned in

01:16:53.780 the white

01:16:54.080 paper.

01:16:54.520 I'm

01:16:54.640 like,

01:16:54.780 wonderful.

01:16:56.080 And that's

01:16:56.620 all he's

01:16:57.200 ever done.

01:16:57.640 and he

01:17:00.260 does whatever

01:17:01.060 the hell

01:17:01.580 gets him

01:17:02.400 likes.

01:17:03.540 Adam doesn't

01:17:04.340 care about

01:17:04.920 actually creating

01:17:05.780 anything in

01:17:06.240 Bitcoin,

01:17:06.620 building anything.

01:17:07.460 He hasn't.

01:17:08.820 Adam cares

01:17:09.520 that people

01:17:10.260 like what

01:17:11.340 he says.

01:17:12.740 Now,

01:17:13.140 that short

01:17:14.360 term might

01:17:16.220 work,

01:17:17.240 but long

01:17:18.040 term, you

01:17:18.400 don't get

01:17:19.080 anything out

01:17:19.580 of it.

01:17:20.080 So,

01:17:20.380 imagine if

01:17:21.200 you were

01:17:21.640 Thomas Edison.

01:17:22.960 You can

01:17:23.680 actually try

01:17:24.540 and make a

01:17:24.980 better light

01:17:25.400 bulb by

01:17:26.440 trying

01:17:27.480 thousands

01:17:28.560 of experiments

01:17:29.300 and doing

01:17:29.980 things

01:17:30.420 and not

01:17:31.920 being liked.

01:17:33.500 Or,

01:17:34.700 you can

01:17:35.060 sit there

01:17:35.640 and say

01:17:37.020 how wonderful

01:17:37.620 you are

01:17:38.160 and

01:17:39.460 for a little

01:17:40.960 while,

01:17:41.680 people will

01:17:42.200 remember you

01:17:43.020 and they'll

01:17:43.720 say,

01:17:44.220 wow,

01:17:44.520 isn't that

01:17:44.880 great?

01:17:45.220 He looks

01:17:45.600 good.

01:17:46.620 What

01:17:47.060 wonderful

01:17:47.500 flimflam.

01:17:49.080 Except,

01:17:49.760 guess what?

01:17:51.200 You don't

01:17:51.960 build anything.

01:17:54.400 They haven't

01:17:54.940 built

01:17:55.360 anything.

01:17:56.820 Nothing.

01:17:58.800 Some people

01:18:00.280 may say

01:18:00.720 he's

01:18:01.000 Nikola

01:18:01.440 Tesla

01:18:01.860 and you're

01:18:02.500 trying to

01:18:02.920 be Edison,

01:18:03.720 which is

01:18:04.220 Nikola's

01:18:05.240 the one

01:18:05.480 that came

01:18:05.860 up with

01:18:06.120 the idea

01:18:06.600 but Edison

01:18:07.120 took credit

01:18:07.640 for it.

01:18:08.500 Well,

01:18:08.900 actually,

01:18:10.060 that's

01:18:10.800 actually

01:18:11.060 wrong too.

01:18:12.000 I know

01:18:12.220 a lot

01:18:12.460 of people

01:18:12.720 love to

01:18:13.140 say that

01:18:13.500 one recently.

01:18:15.180 The

01:18:15.540 Wikipedia

01:18:15.860 era.

01:18:18.520 Edison

01:18:18.840 wasn't

01:18:19.920 necessarily

01:18:20.560 what you

01:18:21.060 would call

01:18:21.340 a nice

01:18:21.700 guy

01:18:22.020 in any

01:18:24.160 sense of

01:18:24.660 the word,

01:18:25.000 but Tesla

01:18:26.220 wasn't the

01:18:27.320 one who

01:18:27.540 came up

01:18:27.900 with things.

01:18:28.700 Tesla

01:18:28.980 was a

01:18:29.720 very good

01:18:30.240 media man.

01:18:32.900 What Tesla

01:18:33.500 did was

01:18:33.980 every single

01:18:35.120 day he did

01:18:35.940 little shows.

01:18:36.660 He did

01:18:36.880 things with

01:18:37.600 like showing

01:18:39.300 electricity

01:18:39.820 between

01:18:40.560 basically two

01:18:43.220 electrodes

01:18:43.720 and sparks

01:18:44.440 and the

01:18:45.320 media

01:18:45.600 loved him.

01:18:46.700 He was

01:18:47.020 a showman

01:18:47.600 and he

01:18:49.360 worked with

01:18:49.820 other people

01:18:50.380 and he

01:18:52.460 got his

01:18:52.960 name on

01:18:53.800 a lot of

01:18:54.740 patents

01:18:55.080 with other

01:18:55.580 people,

01:18:56.380 some of

01:18:57.500 which ended

01:18:57.880 up suing

01:18:58.360 him.

01:19:00.160 So he

01:19:01.020 wasn't 0.79

01:19:01.380 dumb, 0.96

01:19:01.960 but he's 1.00

01:19:03.880 nowhere near

01:19:04.620 this person

01:19:05.140 the people

01:19:05.500 are making

01:19:05.840 him out

01:19:06.140 to be

01:19:06.380 now.

01:19:07.800 But there's

01:19:09.260 value in

01:19:09.980 creating this

01:19:10.880 mythology

01:19:11.340 about the

01:19:12.020 showman

01:19:12.640 and more

01:19:14.440 than anything

01:19:14.800 else,

01:19:15.160 he was a

01:19:15.600 showman.

01:19:16.740 So you

01:19:17.460 relate more

01:19:18.080 to the 1.00

01:19:18.940 asshole 1.00

01:19:19.680 Edison 0.99

01:19:20.120 than the

01:19:20.680 nice

01:19:20.940 showman

01:19:21.360 Nikola

01:19:21.680 Tesla?

01:19:22.860 Unfortunately,

01:19:23.640 yes.

01:19:24.820 But I

01:19:25.700 work,

01:19:26.420 I work,

01:19:27.080 I get up

01:19:27.520 in the

01:19:27.740 morning,

01:19:28.440 I work,

01:19:29.600 I spend

01:19:30.100 my day

01:19:30.420 working,

01:19:30.900 I study.

01:19:33.200 So,

01:19:34.060 I mean,

01:19:34.680 most people

01:19:35.180 don't realize

01:19:36.020 what it is

01:19:37.140 to really

01:19:37.540 work.

01:19:38.960 At the

01:19:39.640 moment,

01:19:40.740 I'm not

01:19:41.180 doing a

01:19:41.720 PhD.

01:19:42.820 I'm doing

01:19:43.460 a PhD

01:19:43.980 and multiple

01:19:45.300 other degrees

01:19:46.160 simultaneously

01:19:47.180 full-time.

01:19:48.700 And I'm

01:19:49.180 not going

01:19:49.500 to say

01:19:49.720 what they

01:19:50.020 all are

01:19:50.520 because I'll

01:19:51.380 have people

01:19:51.800 bitching, 1.00

01:19:52.680 going,

01:19:53.280 you're doing

01:19:53.680 X,

01:19:53.960 Y,

01:19:54.160 and Z.

01:19:54.540 That's not

01:19:54.980 right.

01:19:56.160 And pressuring

01:19:57.760 the unis

01:19:58.240 who already

01:19:58.920 know that I've

01:19:59.500 done some of

01:20:00.000 these things

01:20:00.360 in the past

01:20:00.900 and that I've

01:20:01.640 told.

01:20:02.860 But,

01:20:03.380 yeah,

01:20:04.400 it's just

01:20:04.700 easier not

01:20:05.740 to have to

01:20:06.200 respond.

01:20:06.800 So,

01:20:07.760 not going

01:20:08.100 to say.

01:20:08.360 It's

01:20:10.300 easier not

01:20:11.060 to have

01:20:11.400 to respond.

01:20:12.300 Well,

01:20:12.500 at the end

01:20:12.860 of the

01:20:13.060 day,

01:20:13.920 I'm not

01:20:14.480 going to

01:20:15.020 get any

01:20:15.500 employment

01:20:16.000 opportunities

01:20:16.800 or anything

01:20:17.220 like that

01:20:18.120 ever again

01:20:18.760 because of

01:20:19.520 qualifications

01:20:20.840 or anything.

01:20:21.420 I do this

01:20:21.900 for me.

01:20:23.060 I don't do

01:20:23.620 it because,

01:20:24.640 I mean,

01:20:24.900 I've got,

01:20:25.680 I think,

01:20:26.340 20-something

01:20:27.040 degrees now.

01:20:28.320 And that's

01:20:29.800 actually a

01:20:30.220 negative if

01:20:31.000 you think

01:20:31.340 about it,

01:20:32.140 if you

01:20:32.620 actually put

01:20:33.300 that out

01:20:33.640 there.

01:20:34.320 No one

01:20:34.880 hires me

01:20:36.000 because I

01:20:37.760 have sort

01:20:39.520 of qualifications

01:20:40.260 in art

01:20:42.780 history and

01:20:44.740 music and

01:20:46.480 computer science.

01:20:48.780 No one

01:20:49.260 cares.

01:20:49.720 They actually

01:20:50.000 see that as

01:20:50.440 a negative.

01:20:52.600 But I

01:20:53.380 see it as a

01:20:53.780 positive because,

01:20:54.760 for instance,

01:20:55.420 just yesterday,

01:20:56.860 I put in a

01:20:57.720 white paper to

01:20:58.340 go to be

01:20:59.420 filed as a

01:21:00.000 patent based

01:21:02.820 on some

01:21:03.460 of the

01:21:03.640 things I've

01:21:03.980 been doing

01:21:04.420 in an

01:21:05.020 art history

01:21:05.440 degree,

01:21:06.260 which I'm

01:21:06.660 not going

01:21:06.980 to say

01:21:07.340 because patent

01:21:07.940 hasn't been

01:21:08.360 filed yet,

01:21:09.280 but it's

01:21:10.320 to do with

01:21:10.900 certain types

01:21:12.240 of ancient

01:21:13.600 painting techniques

01:21:14.620 and whatever

01:21:15.000 else and

01:21:17.780 how Sotheby's

01:21:19.460 and others

01:21:19.820 can actually

01:21:20.700 manage and

01:21:22.140 maintain records

01:21:23.560 of artwork.

01:21:26.300 So the

01:21:27.560 reality is by

01:21:29.420 having a

01:21:30.440 diverse mix

01:21:31.900 of knowledge,

01:21:32.820 actually find

01:21:33.900 out more

01:21:34.620 things that I

01:21:35.300 could actually

01:21:35.960 do.

01:21:37.840 Yeah, it's

01:21:39.140 very interesting

01:21:40.440 to obviously

01:21:41.700 this topic of

01:21:42.420 Satoshi Nakamoto.

01:21:43.560 It's so

01:21:44.000 everybody is

01:21:45.080 wanting to

01:21:45.800 find out who

01:21:46.280 it really is.

01:21:47.260 Some are

01:21:47.600 saying you,

01:21:48.180 some are

01:21:48.460 saying other

01:21:48.840 people.

01:21:49.240 I don't

01:21:49.340 think many

01:21:49.720 people in

01:21:50.460 the community,

01:21:52.640 yes, people

01:21:53.140 run around

01:21:53.580 saying all

01:21:54.020 these things

01:21:54.460 not wanting

01:21:54.860 to be me.

01:21:55.580 But the

01:21:55.880 reality is if

01:21:58.680 you don't

01:21:59.300 really, if

01:22:00.880 I'm not going

01:22:01.360 to make

01:22:01.720 money doing

01:22:02.720 the thing,

01:22:03.540 selling myself

01:22:04.860 and prostituting 0.71

01:22:06.720 myself into

01:22:07.580 conferences, if

01:22:09.320 I don't take

01:22:09.800 money to

01:22:10.440 present, if

01:22:11.220 I'm not doing

01:22:11.740 any of that,

01:22:12.260 what's it

01:22:12.560 matter?

01:22:13.440 I mean, when

01:22:14.300 I file a

01:22:15.860 patent, when I

01:22:16.440 create something,

01:22:17.240 when I write

01:22:17.760 papers, it's all

01:22:18.740 peer reviewed.

01:22:19.940 So when I have

01:22:21.100 a patent

01:22:21.500 application, I

01:22:23.460 don't go,

01:22:24.180 hey, I'm

01:22:24.540 Satoshi, give

01:22:25.220 me a patent.

01:22:25.700 it goes before

01:22:28.520 examiners and

01:22:30.640 those examiners

01:22:31.260 have no idea

01:22:32.000 who I am.

01:22:33.580 And that's a

01:22:34.280 good thing.

01:22:35.440 This is why

01:22:36.360 it doesn't

01:22:37.840 matter.

01:22:38.880 No one

01:22:39.360 cares.

01:22:40.940 I mean, when

01:22:41.460 I create,

01:22:43.440 when the

01:22:43.960 company creates,

01:22:44.800 when we all

01:22:45.400 sit there and

01:22:46.160 we build

01:22:46.500 things and

01:22:46.940 whatever else

01:22:47.500 and we sell

01:22:49.080 code that's

01:22:50.000 plumbing, most

01:22:51.840 people don't

01:22:52.260 know, they

01:22:52.700 don't care.

01:22:53.880 It works best

01:22:54.760 that way.

01:22:55.360 I mean, I

01:22:56.440 actually like

01:22:57.500 being plumbing.

01:23:00.220 I like the

01:23:01.280 other.

01:23:02.360 I have

01:23:03.540 Asperger's and

01:23:04.600 I find face

01:23:05.940 to face

01:23:06.260 conversations with

01:23:07.100 people difficult.

01:23:08.020 I find

01:23:08.420 interacting with

01:23:09.180 people difficult.

01:23:09.780 That's why most

01:23:10.340 of my degrees

01:23:11.100 have been

01:23:11.400 distanced and

01:23:12.120 now online for

01:23:13.200 most of my

01:23:13.640 life.

01:23:14.260 Why I do

01:23:14.820 these things,

01:23:15.400 why I sort

01:23:16.940 of have unusual

01:23:17.820 work habits and

01:23:18.660 all the rest,

01:23:19.520 because at the

01:23:21.520 end of the

01:23:21.920 day, it's

01:23:23.880 just, it

01:23:24.460 sort of fits

01:23:25.780 with what I

01:23:26.420 am.

01:23:27.100 And this

01:23:28.880 concept of

01:23:29.840 I'm going to

01:23:30.760 go out there

01:23:31.420 and run

01:23:32.480 around and

01:23:33.160 be eccentric

01:23:34.660 and have

01:23:35.280 everyone love

01:23:35.800 me, I

01:23:36.080 don't really

01:23:36.540 care.

01:23:36.900 I don't

01:23:37.100 want that.

01:23:38.800 I'm

01:23:39.280 happiest because

01:23:40.680 I build

01:23:41.740 things.

01:23:42.620 And here's

01:23:43.120 the thing,

01:23:43.500 that everyone

01:23:44.180 can sit

01:23:44.740 there and 1.00

01:23:45.020 throw shit 1.00

01:23:45.400 at me all 1.00

01:23:45.900 you want.

01:23:46.320 in five

01:23:48.560 years time,

01:23:49.340 I'm likely

01:23:50.880 to have

01:23:51.200 my name

01:23:51.740 on maybe

01:23:54.140 three,

01:23:54.560 four thousand

01:23:55.080 patents and

01:23:56.780 I'll still be

01:23:57.480 patenting.

01:24:00.180 The

01:24:00.700 technologies

01:24:01.260 needed to

01:24:01.940 make any

01:24:02.880 blockchain work,

01:24:04.700 well, no

01:24:05.340 one wanted to

01:24:05.780 listen to me.

01:24:07.260 So, as you

01:24:09.640 see them come

01:24:10.240 out, as we

01:24:11.480 show how we

01:24:12.280 scale to

01:24:13.240 millions and

01:24:14.020 billions of

01:24:14.560 transactions a

01:24:15.320 second, then

01:24:17.300 too bad.

01:24:18.780 That's all I

01:24:19.240 have to say.

01:24:19.980 I mean, if

01:24:20.580 you think that

01:24:21.960 I need to

01:24:22.740 have your

01:24:23.360 approbation,

01:24:24.780 that I need

01:24:25.840 your love and

01:24:27.060 your basically

01:24:29.740 worship, then 1.00

01:24:32.340 you're insane. 1.00

01:24:35.480 I've had an 1.00

01:24:36.640 executive on my

01:24:37.380 team who had

01:24:37.740 Asperger's that

01:24:39.120 I work with and

01:24:40.540 we one day

01:24:41.840 were sitting and

01:24:42.480 having a

01:24:42.780 conversation

01:24:43.240 together and

01:24:43.860 the topic of

01:24:44.380 Bill Gates

01:24:44.780 came up.

01:24:45.140 Because Bill

01:24:45.640 Gates also has

01:24:46.360 been claimed to

01:24:46.880 have Asperger's.

01:24:48.680 And there's

01:24:48.960 been a lot of

01:24:49.560 people, by the

01:24:50.160 way, lots of

01:24:50.740 successful people.

01:24:52.580 Why do you

01:24:53.300 think there's a

01:24:53.920 link between

01:24:54.460 Asperger's and

01:24:55.520 genius, meaning

01:24:56.560 they're able to

01:24:57.780 do things and

01:24:58.460 process issues in

01:24:59.420 ways that the

01:24:59.940 average person

01:25:00.480 can't?

01:25:00.880 What is it?

01:25:01.360 I've heard a lot

01:25:01.840 of different

01:25:02.160 theories.

01:25:02.560 I'm curious to

01:25:02.960 know what you

01:25:03.280 say about it.

01:25:04.300 I think there

01:25:04.900 are a couple

01:25:05.440 different areas.

01:25:06.280 One, we

01:25:07.900 don't have the

01:25:09.480 same level of

01:25:10.200 distraction as

01:25:11.640 some other

01:25:12.000 people.

01:25:12.320 I hyper-focus

01:25:15.820 on tasks, which

01:25:18.140 actually annoys

01:25:19.680 many people I

01:25:20.580 know, because

01:25:21.740 you just get

01:25:23.120 into something

01:25:23.740 and they try and

01:25:25.720 talk to you and

01:25:26.200 it's, uh-huh.

01:25:27.680 They say, the

01:25:28.320 house is burning

01:25:28.820 down, uh-huh.

01:25:31.900 Someone's running

01:25:32.560 off with the

01:25:32.980 children, uh-huh.

01:25:33.620 I mean, but

01:25:35.860 you're into it.

01:25:37.560 You're, it's

01:25:38.060 there.

01:25:38.680 And you find

01:25:40.380 something that

01:25:40.940 you obsess about.

01:25:42.780 And not many

01:25:44.660 other people would

01:25:45.580 have done Bitcoin

01:25:47.080 because they

01:25:47.580 didn't obsess.

01:25:49.380 Everyone gave

01:25:50.380 up on Bitcoin, um,

01:25:52.940 as a concept back

01:25:54.420 in about 2001.

01:25:56.520 That's when

01:25:57.200 everything really

01:25:57.840 started falling

01:25:58.420 apart.

01:25:58.840 2003, everything

01:25:59.940 was dead in

01:26:00.620 cryptocurrency

01:26:01.060 space.

01:26:01.680 Everyone told 1.00

01:26:02.840 me how stupid 1.00

01:26:03.800 I was by 1.00

01:26:05.000 actually still

01:26:05.820 thinking about

01:26:06.540 how we do

01:26:07.300 online payments

01:26:08.100 and how you

01:26:08.940 do these

01:26:09.320 things.

01:26:10.080 Um, lots

01:26:10.860 of problems.

01:26:11.520 Lots of

01:26:11.760 people, uh,

01:26:12.960 wanted to pull

01:26:13.540 funding from

01:26:14.080 me and all

01:26:14.500 sorts of

01:26:14.820 things in

01:26:15.460 the past.

01:26:16.440 Um, because

01:26:17.580 it's not

01:26:19.100 solvable.

01:26:19.640 It's not

01:26:20.000 worth it.

01:26:21.520 Find

01:26:22.040 something else.

01:26:23.300 And I

01:26:24.380 kept obsessing.

01:26:25.180 and everyone

01:26:27.200 else is out

01:26:28.240 there going

01:26:29.440 off and

01:26:29.820 finding other

01:26:30.300 things.

01:26:30.740 And, um, I

01:26:32.900 kept obsessing.

01:26:34.340 I tried this, I

01:26:35.820 tried that, and

01:26:36.540 that's the whole

01:26:37.760 thing.

01:26:38.040 So you get

01:26:38.480 certain types of

01:26:39.380 people who, if

01:26:41.980 their focus is on

01:26:43.540 something that needs

01:26:44.280 to be solved, we'll

01:26:46.120 just put everything

01:26:47.100 into it until they

01:26:48.220 solve it.

01:26:48.620 Um, I had a

01:26:50.500 older guy that I

01:26:51.660 knew in Australia

01:26:52.620 who, well, uh,

01:26:56.120 ended up actually

01:26:57.040 doing quite well

01:26:57.720 when he was about

01:26:58.280 80.

01:26:59.200 Uh, but he, he

01:27:01.180 grew orchids and

01:27:03.500 he obsessed over

01:27:04.920 them.

01:27:05.840 And he spent like

01:27:07.140 50 years breeding

01:27:09.320 and doing orchids and

01:27:10.380 everything like that.

01:27:11.480 And, um, now

01:27:12.780 these days, suddenly

01:27:14.280 orchids are being

01:27:14.960 sold everywhere.

01:27:15.660 And, um, he

01:27:17.280 has, um,

01:27:18.280 uh, rights to a

01:27:19.700 number of, um, things

01:27:21.440 that he sold.

01:27:21.900 And everyone thought,

01:27:22.740 I mean, 50 years

01:27:23.640 worth of what

01:27:25.360 everyone thought was

01:27:25.940 wasting time, money,

01:27:27.240 effort, and all the

01:27:27.880 rest.

01:27:28.520 And now that he's 80,

01:27:29.420 he's suddenly getting

01:27:30.340 money in, which is

01:27:31.820 unfortunate because

01:27:32.640 he's that old and, but

01:27:35.220 it helps his family

01:27:36.060 still.

01:27:36.760 But that's the

01:27:37.600 point.

01:27:38.620 If you have someone

01:27:39.940 who obsesses that

01:27:41.180 way, that will try

01:27:42.600 things.

01:27:43.580 I mean, Edison

01:27:44.420 didn't invent the

01:27:45.560 light bulb.

01:27:46.460 People get that

01:27:47.000 wrong.

01:27:48.280 Arc lighting

01:27:49.420 existed, filament

01:27:50.780 lighting existed, but

01:27:52.740 it didn't work

01:27:54.180 because, um, it

01:27:55.380 would burn out

01:27:56.000 after like an

01:27:56.720 hour and having

01:27:58.880 a light bulb, you

01:27:59.700 change every hour.

01:28:01.140 Yeah.

01:28:01.820 No one wants to

01:28:02.720 change light bulbs

01:28:03.500 every hour.

01:28:04.380 So he sat there

01:28:05.940 basically experimenting

01:28:07.880 with every material,

01:28:09.420 every way he could

01:28:10.180 do it until he had

01:28:11.440 one that lasted

01:28:12.200 days and then

01:28:14.420 longer and longer

01:28:15.260 and the sort of

01:28:19.780 obsession that I

01:28:21.140 have for knowledge,

01:28:22.660 for other things.

01:28:24.760 Not many people,

01:28:26.420 it's, I mean, one

01:28:28.260 way of putting it

01:28:28.740 would be, it's a form

01:28:29.760 of insanity.

01:28:31.660 And a lot of people

01:28:32.780 like myself have this

01:28:34.440 form of insanity, but

01:28:35.380 it's a socially

01:28:36.140 acceptable form of

01:28:37.400 insanity.

01:28:37.780 So I will sit

01:28:40.120 there and I will

01:28:40.940 digest knowledge.

01:28:41.980 I will read

01:28:43.620 and learn

01:28:44.720 and everything

01:28:45.900 I can.

01:28:48.040 And that's

01:28:49.400 how I'm happiest.

01:28:50.660 I mean,

01:28:51.180 um, people

01:28:52.080 don't really get

01:28:53.100 this.

01:28:53.420 Um, I think

01:28:55.500 my wife has

01:28:56.280 accepted it, but

01:28:57.000 she doesn't

01:28:57.600 understand it.

01:28:58.520 But like we

01:28:59.380 were, um, a

01:29:00.940 few years ago, um,

01:29:02.960 on a yacht in, um,

01:29:04.540 the Mediterranean

01:29:05.520 and the kids and

01:29:07.140 everything are having

01:29:07.720 fun doing the

01:29:09.040 whole fall off the

01:29:09.920 back into the, the

01:29:11.060 nice blue water bit

01:29:12.040 and all the rest.

01:29:12.620 And I'm sitting up

01:29:13.160 there on the top

01:29:13.900 writing and working

01:29:14.780 and I can see

01:29:18.180 that, but you

01:29:19.220 said two things.

01:29:19.980 So one was, uh,

01:29:21.700 when it comes down

01:29:22.480 to distractions,

01:29:23.120 you're, you're

01:29:23.700 able to stay

01:29:24.200 hyper-focused on

01:29:25.140 tasks that people

01:29:25.880 say, yeah, yeah,

01:29:26.880 yeah.

01:29:27.600 What was this?

01:29:28.280 Is the second one

01:29:29.120 that there's not

01:29:29.860 that much emotions

01:29:30.940 where you're not

01:29:31.520 offended as much

01:29:32.440 as another person

01:29:33.180 is?

01:29:34.580 Um, no, but in

01:29:37.820 a different way.

01:29:39.380 Um, people think

01:29:42.480 that myself and a

01:29:45.300 lot of others

01:29:45.720 don't feel that

01:29:46.760 we don't emote.

01:29:48.060 We don't show

01:29:49.560 it.

01:29:50.780 So, and we

01:29:52.060 don't react.

01:29:53.060 So, um, my

01:29:55.560 wife looks at me 1.00

01:29:56.980 strangely because I

01:29:58.100 don't react to pain

01:30:00.040 the normal way.

01:30:01.700 Um, something

01:30:02.540 happens and I have

01:30:03.400 an injury and she

01:30:05.620 sits there going,

01:30:06.280 isn't that really

01:30:07.280 painful?

01:30:07.680 And I go, yes, it

01:30:08.900 is incredibly painful

01:30:09.860 honey.

01:30:10.780 And she goes, um, 0.79

01:30:12.980 but you don't look

01:30:13.680 like you're in pain.

01:30:14.480 I went, I am.

01:30:15.680 Um, so that

01:30:19.620 causes people sort

01:30:20.720 of, uh, it

01:30:21.340 doesn't match up

01:30:22.600 right.

01:30:23.400 So, um, uh, I

01:30:25.700 mean, I've done 0.58

01:30:26.120 lots of silly 0.74

01:30:27.300 things. 0.69

01:30:27.540 I used to own a

01:30:28.140 farm and if you

01:30:28.960 want to injure

01:30:29.400 yourself, I

01:30:29.880 actually still own a

01:30:30.700 farm.

01:30:30.860 I just never get

01:30:31.380 back to Australia.

01:30:32.380 Um, but if you

01:30:33.880 want to injure

01:30:34.320 yourself a lot, um,

01:30:35.880 have a ranch, uh,

01:30:40.960 between fencing

01:30:42.200 with barbed wire

01:30:43.240 and, um, heavy

01:30:44.980 equipment and

01:30:45.980 tractors and

01:30:46.840 everything like

01:30:47.200 that, injuries

01:30:48.940 galore.

01:30:51.000 So that was

01:30:51.740 interesting.

01:30:52.200 Very good feedback

01:30:52.940 there.

01:30:53.300 Sensitivity for me

01:30:54.100 from working with

01:30:54.800 Asperger's, they're 1.00

01:30:55.480 extremely sensitive to

01:30:56.740 the point where they

01:30:58.280 will do whatever they

01:30:59.160 can to prove you

01:31:00.340 wrong of going out

01:31:01.680 there and doing their

01:31:02.240 research to say, I

01:31:02.980 told you I was

01:31:03.920 right.

01:31:04.560 There's a different

01:31:05.420 kind of, would you

01:31:06.180 agree with that?

01:31:06.720 A little bit of

01:31:07.140 that going on?

01:31:08.540 Uh, am I a pedantic 1.00

01:31:10.740 asshole and asshole 1.00

01:31:12.660 has to be the word 1.00

01:31:13.520 after pedantic?

01:31:14.580 Yes.

01:31:15.500 Um, I actually had

01:31:18.620 an argument with, uh,

01:31:20.160 my psychologist, um,

01:31:22.480 who was discussing

01:31:24.060 the, um, the, the

01:31:26.620 concept of like the

01:31:28.000 word weird, because I

01:31:29.460 was saying, I, I

01:31:30.340 didn't like the use of

01:31:31.440 the word weird in one

01:31:32.420 of the quizzes he'd

01:31:33.560 given me because, um,

01:31:35.420 and, um, the word

01:31:37.200 weird actually is used

01:31:38.720 utterly wrong.

01:31:40.100 I mean, when you talk

01:31:40.860 about the weird sisters

01:31:41.860 in, um, Shakespeare

01:31:43.200 in, um, in

01:31:45.180 Macbeth, the three

01:31:46.900 sisters, it's the

01:31:48.040 fate.

01:31:48.420 So weird actually is

01:31:51.040 the fates, the

01:31:52.500 control, the, um, if

01:31:54.860 you, you think about

01:31:55.760 the, um, uh, the

01:31:57.340 concept from, from

01:31:58.400 Greek and, uh, and

01:32:00.960 then Roman sort of

01:32:02.160 copy of what we see as

01:32:04.300 mythologies as, as

01:32:05.360 fates and how they

01:32:07.060 control our lives, that's

01:32:08.660 what weird is.

01:32:10.160 Uh, we just use it

01:32:11.460 wrong.

01:32:11.780 So I, I get into the

01:32:13.360 etymology of words, which

01:32:14.620 I, I find interesting.

01:32:15.800 I, uh, uh, and yeah,

01:32:19.220 not many people want to

01:32:20.660 be told that they're

01:32:21.420 saying things that are

01:32:22.320 not correct.

01:32:24.660 By the way, what, how

01:32:25.580 old were you when you

01:32:26.300 realized you had

01:32:26.840 Asperger's?

01:32:27.420 How old were you?

01:32:28.120 Did somebody say it to

01:32:29.180 you?

01:32:29.300 Did you go to the

01:32:29.960 doctor?

01:32:30.340 How old were you?

01:32:32.420 Um, um, I know I, I

01:32:36.660 had, um, uh, diagnosed

01:32:38.300 my, my mother had me, um,

01:32:40.840 in front of psychologists

01:32:41.900 when I was in high

01:32:42.540 school.

01:32:43.620 Um, and then they sort

01:32:45.600 of, uh, I ended up going

01:32:47.420 to a Catholic school.

01:32:48.380 I got taken out of a

01:32:49.160 state school and put into a

01:32:50.200 Catholic school and, um, uh,

01:32:52.240 directors and everything

01:32:53.120 like that, um, dealt with

01:32:55.380 me and treated me a little

01:32:56.580 bit differently because of

01:32:57.600 it.

01:32:58.460 Um, so that was actually a

01:33:00.760 good move.

01:33:01.720 Um, interesting, but, um,

01:33:04.680 interesting.

01:33:05.960 So.

01:33:07.440 High school, were you, were

01:33:08.580 you the cool guy in high

01:33:09.400 school?

01:33:09.620 Were you the like the 4.0

01:33:10.840 genius getting everything

01:33:11.960 right or pushing the

01:33:13.320 teachers, challenging the

01:33:14.660 teachers?

01:33:15.000 Who were you in high school?

01:33:16.620 Uh, no, I was the 0.97

01:33:17.980 annoying prick. 0.92

01:33:19.040 I was the guy who nearly got 0.99

01:33:20.300 expelled because, um, I, I, I

01:33:25.140 I had a big argument once

01:33:26.220 with the teacher over the

01:33:27.320 textbook, um, and then

01:33:29.520 demonstrated how the

01:33:30.520 textbook was wrong.

01:33:31.520 And, um, we shouldn't be 0.99

01:33:33.840 teaching this crap. 0.99

01:33:34.800 And yeah, somehow I see 1.00

01:33:38.100 that.

01:33:38.340 I don't know why.

01:33:42.920 Yeah.

01:33:43.140 I didn't have a good, I

01:33:44.720 didn't let it go very well.

01:33:46.300 So they said, sit down,

01:33:48.420 Craig, no, but it's

01:33:49.320 actually wrong.

01:33:50.060 And you just learn it.

01:33:52.960 No.

01:33:53.520 Uh, well, listen, thank

01:33:55.400 you for being transparent

01:33:56.680 and being willing to talk

01:33:57.620 about this.

01:33:58.080 That was very helpful

01:33:58.780 because I do know in the

01:33:59.720 business environment, there's

01:34:01.220 a lot of folks that are

01:34:02.020 working with somebody that

01:34:03.020 has it and they don't have

01:34:03.900 an understanding of it.

01:34:04.800 And sometimes parents have

01:34:05.740 kids that have that.

01:34:07.180 And it's tough to kind of

01:34:07.940 understand where that I

01:34:08.680 and it's tough for the kid

01:34:09.600 because the kid wishes

01:34:10.540 parents knew, listen, man,

01:34:12.100 I don't know what I have,

01:34:13.120 but I'm a little bit

01:34:13.780 different.

01:34:14.160 Please be patient with me.

01:34:15.640 This isn't how I made

01:34:17.140 myself be like this.

01:34:17.980 I was born like this.

01:34:19.100 So that's the problem.

01:34:20.520 We have a educational system

01:34:22.900 now that for the most part

01:34:24.180 just tries to slot people in

01:34:25.700 and do exams and it's not

01:34:29.960 good.

01:34:31.240 I mean, education isn't

01:34:34.000 about training and exams.

01:34:35.380 It's about making people

01:34:37.240 think and be part of society

01:34:39.220 and understand.

01:34:40.660 And kids now actually look

01:34:42.960 at all these other courses

01:34:44.200 like music and English and

01:34:47.900 sit there and go, but why

01:34:49.280 do I need this?

01:34:50.700 It's not what I'm going to

01:34:51.740 get into uni with.

01:34:52.880 It's not where my grades

01:34:54.520 are coming from.

01:34:55.900 Well, because it's education.

01:34:59.580 You don't want just to get

01:35:02.080 a tick box.

01:35:03.360 You want to learn to think.

01:35:06.660 Yeah, I'm with you there.

01:35:08.020 Speed round.

01:35:08.640 I'm going to give you a name.

01:35:09.600 Tell me the first word that

01:35:10.560 comes to mind.

01:35:11.180 I'll give you a name.

01:35:11.780 Just tell me the first word

01:35:12.480 that comes to mind.

01:35:13.740 Gavin and Reason.

01:35:17.900 Very interesting guy and he 1.00

01:35:23.820 got too much shit. 1.00

01:35:25.700 Jeff Gersick. 1.00

01:35:27.740 Yeah.

01:35:28.420 Well, anyway.

01:35:30.180 Gregory Maxwell.

01:35:33.300 Trotsky.

01:35:35.200 Trotsky.

01:35:35.920 Okay.

01:35:36.220 Peter Wolff.

01:35:37.240 Peter Wolff on Blockstream.

01:35:40.200 Oh.

01:35:42.540 Don't waste my time.

01:35:44.940 Okay.

01:35:45.640 Fair enough.

01:35:46.000 Dan Kaminsky. 1.00

01:35:47.900 An idiot that has had run-ins 1.00

01:35:54.680 with me since 2000 or so that tries 1.00

01:35:59.480 to pretend he doesn't and forgets

01:36:00.900 that I've still got papers out

01:36:02.120 there on DNS and things like

01:36:03.700 that.

01:36:04.080 But I'm not the best person to

01:36:08.260 point out when things are wrong.

01:36:10.300 And a lot of people get annoyed

01:36:12.140 when I do, especially in

01:36:13.620 conferences and things like that.

01:36:14.800 Like when you sit there and go,

01:36:17.000 actually, your mathematics is wrong.

01:36:19.220 Your, this process is wrong.

01:36:21.800 You haven't used the right statistic.

01:36:23.540 And I do that to people in conferences

01:36:25.340 when they're presenting things.

01:36:27.160 And I don't endear people.

01:36:29.240 But I'm not actually meaning 0.99

01:36:31.480 to be a complete asshole. 0.99

01:36:32.920 It's just, 1.00

01:36:33.500 when I see things that I want

01:36:36.000 to go into detail,

01:36:37.640 it's for me. 0.95

01:36:38.300 It's not actually to be a complete prick.

01:36:40.260 It's just the way I am. 0.95

01:36:41.940 Jack Dorsey.

01:36:44.500 No, I'm sorry.

01:36:46.400 You did not spend

01:36:47.980 an hour in your sauna

01:36:49.800 at 110 degrees. 0.97

01:36:52.700 Stop bullshitting.

01:36:53.660 Fair enough. 0.84

01:36:57.300 How many?

01:36:59.620 A shame that we don't

01:37:00.420 put more money into research

01:37:01.680 into certain medical problems.

01:37:04.940 Vitalik Guterrin.

01:37:12.200 Just admit it's your father.

01:37:14.960 Wow.

01:37:15.740 Okay.

01:37:16.520 Peter Schiff.

01:37:21.160 Don't care.

01:37:22.560 Max Kaiser.

01:37:23.660 Really,

01:37:27.860 find something better to shill. 0.69

01:37:31.700 Magistrate Judge Bruce Reinhardt.

01:37:34.540 Not going to make any comments

01:37:35.960 about ongoing case stuff,

01:37:37.840 whatever else.

01:37:39.100 John McAfee.

01:37:39.920 I didn't,

01:37:40.300 you did say stuff about him earlier.

01:37:41.680 Do you have anything

01:37:42.080 about John McAfee?

01:37:44.500 Get off the drugs.

01:37:46.480 Ron Paul.

01:37:49.180 Don't actually know him.

01:37:51.200 I think you'd like-

01:37:51.800 Some interesting ideas,

01:37:52.460 but yeah,

01:37:54.680 I think you'd like him.

01:37:57.120 He's an interesting guy.

01:37:58.200 Jamie Dimon.

01:38:01.840 Part of the problem.

01:38:05.100 Mark Zuckerberg.

01:38:07.760 There are solutions

01:38:09.040 to digital cash.

01:38:09.980 You don't need

01:38:10.400 to make it yourself.

01:38:12.800 Just use Bitcoin.

01:38:13.780 Michael Burry.

01:38:17.940 Don't know enough.

01:38:19.340 Don't know enough.

01:38:20.080 David Solomon.

01:38:22.540 I know who it is,

01:38:23.540 but I don't really know enough.

01:38:25.620 Okay.

01:38:26.640 And last but not least,

01:38:28.260 Satoshi Nakamoto.

01:38:29.540 I shouldn't have abdicated.

01:38:36.480 You know,

01:38:36.940 I got to tell you,

01:38:37.400 I said this to you earlier.

01:38:38.260 The more I talked to you,

01:38:39.100 I saw two different people.

01:38:40.180 If Edward Norton

01:38:41.020 and Charlie Sheen

01:38:41.920 were to make a baby together,

01:38:43.640 he would look like Craig Wright.

01:38:45.020 He'd look like you.

01:38:46.100 Ed Norton,

01:38:46.880 Charlie Sheen.

01:38:48.580 I don't even want

01:38:49.780 to imagine that.

01:38:50.920 I really don't want

01:38:51.720 to see Charlie Sheen

01:38:52.560 and Ed Norton

01:38:53.120 making a baby.

01:38:55.620 I mean,

01:38:56.260 it's,

01:38:57.260 I mean,

01:38:57.660 there's no,

01:38:59.440 I mean,

01:38:59.780 Jimmy,

01:39:00.860 who I work with, 0.99

01:39:02.600 is gay 0.91

01:39:03.940 and I've got lots

01:39:04.540 of gay friends.

01:39:05.400 So that's not the issue.

01:39:06.460 I just,

01:39:07.100 those two together

01:39:07.840 just doesn't do it for me.

01:39:09.300 I'm sorry.

01:39:10.280 Maybe in a future movie

01:39:11.760 coming soon,

01:39:12.640 you know,

01:39:13.060 it's,

01:39:13.600 who knows what's

01:39:14.200 going to be happening.

01:39:14.840 But the way,

01:39:15.640 when you talk,

01:39:16.360 you have angles,

01:39:16.900 you look like

01:39:17.440 Norton,

01:39:17.880 there's angles you talk

01:39:18.740 to look like Charlie Sheen.

01:39:20.340 Craig Wright,

01:39:21.160 what I can tell you

01:39:22.040 is I appreciate you

01:39:22.920 for being a guest

01:39:24.440 on Valuetainment

01:39:25.040 and taking all my questions

01:39:26.200 and you were very classy

01:39:27.700 about some of the topics

01:39:28.620 I brought up.

01:39:29.340 I know some of the topics

01:39:30.880 were pretty directed

01:39:31.920 and pointed,

01:39:32.520 but you took them well

01:39:33.300 and we've had a good time

01:39:34.580 to get here

01:39:35.040 for the last hour

01:39:35.700 and a half,

01:39:36.000 hour and 45 minutes.

01:39:36.960 Again,

01:39:37.220 thank you for your time

01:39:38.160 for being a guest

01:39:38.700 on Valuetainment.

01:39:39.780 You're welcome.

01:39:40.720 I must say,

01:39:41.720 your sort of picture

01:39:43.880 in the background,

01:39:45.500 interesting mix of people

01:39:47.080 there.

01:39:48.580 Yes,

01:39:49.080 it is.

01:39:49.800 I mean,

01:39:50.160 I can pick out most of them.

01:39:51.760 I mean,

01:39:52.160 Lincoln's easy.

01:39:54.540 I mean,

01:39:55.360 Friedman,

01:39:57.140 Einstein,

01:39:58.100 Kennedy,

01:39:58.800 etc.

01:39:59.000 I'm not quite sure

01:40:00.160 who the guy

01:40:00.800 with all the medals is,

01:40:02.260 happens to be.

01:40:03.000 I mean,

01:40:03.500 he could be several people.

01:40:07.840 Which dictator?

01:40:09.000 That's the question.

01:40:10.220 He looks like several.

01:40:12.000 Shav Iran,

01:40:13.000 the former Shav Iran.

01:40:15.000 Ah.

01:40:15.600 He's the Shav Iran 1.00

01:40:16.600 and then you got

01:40:17.240 Martin Luther King.

01:40:18.760 Then you got a hip-hop artist.

01:40:20.300 I'm sure you listen

01:40:20.900 to a lot of his music,

01:40:21.900 Tupac.

01:40:24.260 I've got children,

01:40:25.580 so I don't have a choice.

01:40:27.180 And then you got

01:40:30.940 Senna over here

01:40:31.800 and I think

01:40:32.160 what you'll appreciate

01:40:32.820 is they're sitting

01:40:33.520 in a bank vault

01:40:34.340 and they're debating

01:40:35.200 two books.

01:40:36.120 See if you recognize

01:40:37.060 these two books.

01:40:39.940 One has a little

01:40:40.940 dragon

01:40:42.000 that looks like

01:40:43.980 a Bitcoin-y type one.

01:40:45.920 I'm not sure

01:40:46.520 what the other book is.

01:40:47.960 It could be,

01:40:49.280 it could be,

01:40:50.220 looks like Rothbard

01:40:51.140 or something

01:40:51.560 by the cover,

01:40:52.140 but it's thick enough

01:40:54.620 to be Rothbard

01:40:55.620 and the color's right

01:40:58.320 for Rothbard's book.

01:41:00.340 Close.

01:41:01.600 They're debating

01:41:02.360 Communist Manifesto

01:41:03.660 and Atlas Shrug

01:41:04.700 is what they're debating.

01:41:06.740 Ah.

01:41:07.520 Why Iran and Karl Marx

01:41:09.520 had different philosophies

01:41:10.800 and obviously

01:41:11.360 politicians,

01:41:13.140 they're debating

01:41:13.600 those two topics.

01:41:15.220 Although,

01:41:16.620 yeah,

01:41:18.500 the Communist Manifesto

01:41:19.520 is even thinner

01:41:20.300 than that,

01:41:20.740 by the way.

01:41:22.820 Yeah,

01:41:23.120 you're right.

01:41:23.860 It is.

01:41:24.300 I got to contact

01:41:24.920 the painter

01:41:25.300 and say,

01:41:25.640 why'd you add

01:41:26.280 an additional

01:41:26.680 80 pages to it?

01:41:27.960 Exactly.

01:41:31.220 No problem.

01:41:34.100 Is that Marcus Aurelius

01:41:35.060 in the background?

01:41:35.880 Listen,

01:41:36.380 honestly,

01:41:37.100 like how do you know

01:41:37.720 that's Marcus Aurelius?

01:41:38.920 It is Marcus Aurelius.

01:41:40.260 Yes.

01:41:41.400 Aurelius and Aristotle.

01:41:43.560 I try and be

01:41:45.220 a little bit stoic.

01:41:46.240 I really fail,

01:41:47.420 but I would like

01:41:48.820 to be a good stoic.

01:41:49.820 I'm just,

01:41:50.540 it doesn't work.

01:41:51.560 I keep trying

01:41:52.580 and to go

01:41:55.940 into the whole

01:41:56.520 Aristotle bit,

01:41:57.940 you can't actually

01:41:59.660 say someone

01:42:00.320 is happy

01:42:01.200 until the day 0.99

01:42:02.080 they die 0.68

01:42:02.660 because you never

01:42:04.620 know what will

01:42:05.120 happen tomorrow.

01:42:06.320 So similarly,

01:42:07.400 I'm going to say,

01:42:08.520 I can't say

01:42:09.200 that I'm not a stoic

01:42:10.240 until the day 0.83

01:42:10.880 I die. 0.69

01:42:12.200 So until then,

01:42:13.240 I'm going to keep 0.77

01:42:13.840 trying.

01:42:15.080 It's not an easy

01:42:16.060 thing to do,

01:42:16.540 that's for sure.

01:42:17.980 Very awesome.

01:42:18.740 Especially in this world,

01:42:19.420 yes.

01:42:20.000 Especially in this world,

01:42:21.280 no doubt about it.

01:42:22.640 Craig,

01:42:23.160 thank you.

01:42:23.720 Thank you for your time.

01:42:24.860 You're welcome.

01:42:25.420 Thanks everybody

01:42:25.960 for listening.

01:42:26.620 And by the way,

01:42:27.060 if you haven't already

01:42:27.680 subscribed to

01:42:28.380 Valuetainment on iTunes,

01:42:30.000 please do so.

01:42:31.240 Give us a five star,

01:42:32.520 write a review

01:42:33.200 if you haven't already.

01:42:34.140 And if you have any

01:42:34.680 questions for me

01:42:35.620 that you may have,

01:42:36.280 you can always find me

01:42:37.240 on Snapchat,

01:42:38.140 Instagram,

01:42:38.880 Facebook,

01:42:39.300 or YouTube.

01:42:40.100 Just search my name

01:42:40.900 Patrick MidDavid

01:42:41.840 and I actually do

01:42:43.120 respond back

01:42:43.980 when you snap me

01:42:44.840 or send me a message

01:42:45.900 on Instagram.

01:42:46.840 With that being said,

01:42:47.560 have a great day today.

01:42:48.640 Take care everybody.

01:42:49.400 Bye-bye.

Valuetainment - August 28, 2020

Bitcoin's Most Hated Man - Craig Wright

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Summary

Transcript