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ABOUT THIS EPISODE

Just when you thought we were entering a bull run, Bitcoin takes another hit. For those new to the space, it might feel like a roller coaster. To those who have seen this before, it’s just another day in crypto.

Warren Buffet has some unkind words for Bitcoin.But a major stock exchange is taking it seriously. UPS is getting in on blockchain action. And Bitcoin is going to the movies.

We’re still hanging out in The Cayman Islands and it’s about time to hit the beach. But first we’re going to throw some crypto love your way. It’s the Bitcoin going up, bitcoin going down episode #125 of The Bad Crypto Podcast.

Full Show Notes at: http://badco.in/125

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DISCLAIMER:
Do your own due diligence and research. Joel Comm and Travis Wright are NOT FINANCIAL ADVISORS. We are sharing our journey with you as we learn more about this crazy little thing called cryptocurrency.  We make NO RECOMMENDATIONS. Don't take anything we say as gospel. Do not come to our homes with pitchforks because you lost money by listening to us.

We only share with you what we are learning and what we are investing it. We will never "pump or dump" any cryptocurrencies. Take what we say with a grain of salt. You must research this stuff on your own! Just know that we will always strive for RADICAL TRANSPARENCY with any show associations.

Show Edited By: Aaron The Tech (http://aaronthe.tech)

English
United States
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TRANSCRIPT

00:00:00just when you thought we were entering a Bull Run bitcoin takes another hit now for those new to the space it might feel like a roller coaster but to those who have seen this before it's just another day in crypto Warren buff it's got some unkind words for
00:00:16a bit corny but a major stock exchanges taking it seriously UPS is getting in on blockchain action and a big point is going to the movies were still hanging out in the Cayman Islands and it's about time to hit the beach but first we're gonna throw some crypto
00:00:31love your way along a year it's the bit going going up bit going going down episode number one hundred and twenty five of the bad crypto podcast are for Hey guys this is told face and you're listening to the bad crypto podcast they bad this is Jack tater
00:01:04co author of crypto assets the innovative investor's guide coin and beyond you are listening to bad crypto add a show on the internet so tune in and stay bad and welcome to the bad crypto podcast we love you guys so much we do we love you say how
00:02:04much I love you Mister Travis right here in the same room he looked me in the eyes when he said that if he means I looked deeply and passionately not actually or matter this out sounds really came and lasses it's great recording in the same room because you
00:02:18know most and that's why the sounds of the the quality of this recording is even better than usual because we have a killer portable recorder in microphones usually you know he's in Kansas city and I'm in Denver a word some other remote location recording and then you got
00:02:34voice stuff to deal with that little glitches and all of a sudden yeah role body and what not let's try about mount malfunctioning so it's great to be sitting here we are still on Grand Cayman island and it is absolutely stunning out there just it is all right
00:02:54you know the the bad in our logo my arms about the colors the most you like the lobster boy right now you know what I am but suntan lotion on and everything this is seriously a personal problem we're glad you guys are here it's the show for the
00:03:10crypto curious in the crypto serious and we are your crypto medians at your service and %HESITATION you were going to read a few reviews off of I tunes and we're getting courage you guys to do something that you might have done before if you haven't done a review
00:03:24yet for us on iTunes we want some funny ones right the show was fun we %HESITATION we are occasionally funny were always bad and we want some five star reviews that are funny so if you'll write us a funny five star review than we might just read it
00:03:42off to you here on the show at the most recent ones are really funny but just to kind of give you a flavor for it texts Dave writes with his five star review love the show makes my hell of a drive to work in Houston slightly less awful
00:03:57stay bad so we we are you know we try to make drives less awful but it's true here's my favor one from Dustin H. James highly informative and easy to digest the host of this podcasting crypto noobs softly by the hand as they walked him through the jungles
00:04:14of digital currency out when the going gets tough the singing gets louder you ask yourself why are these guys singing their nerdy digital marketers and futurist then you burst out laughing behind the wheel of your eighteen Wheeler down the highway in Fairbanks Alaska ten thousand gallons of unleaded
00:04:31gasoline fish tailing behind jet as our tanker careens from one lane to the other none of that matters none of it this is one of the best podcast you've ever heard a smile forms across your face as you pass for exit barreling down the Richardson highway into the
00:04:46unknown world cryptocurrency it's not dangerous at all you know what he's carrying behind him there is he is careening down the highway so if you'll go to iTunes and write us a five star review make it funny make it funny be funny here's one two pretty good I
00:05:05guess but the three star one there okay there's a lot of fluff and they they normally take about seventeen to twenty minutes before they hit their subject could use more structure that was really early on in our in our crypto game to those actually right there in the
00:05:21first month so we do have a little bit more structure now there were were not quite as good Nick but that while we're at it let's read one one star just because they're funny to couldn't even finish listening to it just dumb I've it's too bad he's too
00:05:34dumb to understand my dad wrote that one thanks dad did it so you guys have your marching orders %HESITATION or requests I don't I'm not gonna washer and I'm not the boss of you neither strap was right but we'd appreciate go be funny gore as a five star
00:05:49review and %HESITATION now let's get to the bad news so what eighty two hundred coins removed from amount drops wallet and %HESITATION they're saying here in this article on CCN dot com that's the possible selloff that is affecting our big point price currently and %HESITATION so the mount
00:06:11docks trustee they he was tasked to sell about two hundred thousand point after the bankruptcy and %HESITATION they've is suspected to dump another eight thousand decline on the crypto currency market that's a potential thing that says Hey this is one is kind of shocking the market but I
00:06:27want to touch base on something here Mister Joe com is we don't talk a whole lot about trading and investing in technical analysis and that's one of the new skills and I'm working on developing right now I'm hijack that try to stack it up I don't have it
00:06:39down yet but I've I've been introduced to this guy Scott crypto man on live crypto trading dot net and I'm actually paying for the service and this dude was a %HESITATION forex trading guru right and so he made tons of money he understands that announces the now is
00:06:57a flying over the last few months to crypto and I've been watching them now been watching a few of his episodes and I've not seen him be wrong right and he was like he said this about a week ago he's got the such kind of a southern drawl
00:07:08from like organizing is I don't know what about thinking you know big points going on a Bull Run that's both big cars going down it it hasn't hit the fifth wave yet he was I was like to play with and so you start talking about like no big
00:07:21when he went here bop bop bop bop and then we had a it looked like it was a Bull Run going up but it did not get past eleven thousand four hundred it needs to get over fourteen thousand to be on a full form boron and it hasn't
00:07:35hit that the bottom yet it had hit the fifth wave down below so he thinks it's gonna hit somewhere around you know fifty five hundred maybes Los four thousand before it pops up once it's fourteen thousand no it's going to skyrocket to thirty five thousand and as I
00:07:51was watching some of the other stuff that he was talking about is if you have some of these you better get out of because they're gonna he goes and he was all like he uses for the **** use the feminazi agents sacred geometry and it matches up on
00:08:03these charts way more frequently than you actually think about that you know feminazi is like you take this is not the number and then you add the number the next number and then you add the two before it's all stars like zero plus one zero plus one is
00:08:19than one so it's one zero one one then you add the two before it so that zero minutes to and you had two plus one before that's three plus the two before that's five and so does it adds the number before each time it's a sequence and it
00:08:33creates this will spiral thing right in so other some mathematical equations behind that is really fascinating and everyone that I've seen that is predicted like what Yasser hit that went one on the big run one of the twenty two almost twenty three dollars or whatever that hit this
00:08:48four point three eight or whatever number and I was like that's the point where it's gonna start going down immediately to started tanking down from there so you can see when they go on these these big runs its like they hit the top of this this feminazi sequence
00:09:02and they stall and they start going down it's almost like it's almost like clockwork it's crazy while he was showing these different ones I was like all right now Mr listen this guy's a I'm learning more about technical analysis I'm certainly not an expert in it at all
00:09:16but I am on the journey of learning you're so technical trying to learn you know so the reading journal reason were and you know at Grand Cayman is because all that mount **** because we went to our wallets so we're just here for good were living out for
00:09:31ever and the family we will miss you yeah so we can record from here clearly true because there were two internet for doing it right now so that could be one reason another reason people %HESITATION believe that crypto might be taking a dip is because of the words
00:09:46of the legendary investor a Jimmy Buffett now that he's the legendary musician Warren buffet %HESITATION in in he said he said they have big going his rat poison squared probably rebel is in square and he's only said it's like trading **** it's like trading **** like trading ****
00:10:11what is that over both of you he was made a melody out of the post the whole yes he actually he actually did that I'm sitting here going what are you doing Travis that's good this is that were bad so he said previously buff it is said that
00:10:35bitcoin will almost certainly quote com to a bad ending and this was at the Berkshire Hathaway annual meeting %HESITATION that this was said in Charlie Munger his business partner has called big coin **** us so you know it actually didn't say was rat poison he says it's probably
00:10:53rat poison squares square that's rat poison times rat poison equals what like cancer yeah and you know what's so funny about these guys you know it's like every every body on mainstream media release at the box I saw a bunch of people in mainstream media talking about this
00:11:12and they're like oh that only because they don't like their clothes because bad because you know it's turns and and then you look at what happened Berkshire Hathaway is holding its the most biased crap you've ever seen dude like I've I posted on Instagram they have over sixty
00:11:27five billion dollars worth of banking stocks Wells Fargo American Express bank of America they own all the sixty five billion dollars worth of their stocks holdings are in banking so course they don't like big points so I either got a look at him and also Berkshire Hathaway did
00:11:47not see Google coming though they all did not see Amazon coming that tells me enough you don't always get it right nobody yells at all that they don't get technology they get old school stocking old school starts old school trading investing they get that they do not get
00:12:03the new school every since the internet come out they have not really been hit now so I'm going to bet against above it on this one and say he's wrong maybe he's drink and you know some some funky opposite rat poison you know stay healthy warm but he's
00:12:20there's no way that he is he understands watching a bit going yeah and then Bill Gates was saying stuff too but then in nineteen ninety four there's a quote from Bill Gates for he said you know banking is necessary banks are not necessary and now that he's global
00:12:36elite super super billionaire guys all like oh yeah well I would probably short bitcoin if I could well in the wake of us one of the week of us twins and over which one challenged him on Twitter say go ahead put your money where your mouth is bill
00:12:51short bit calling well the short record right now it's going down and it's it depends you know what at this moment in time shorten the going when they hit ninety one and almost hit ten thousand bust through if you short it and it's going to go maybe goes
00:13:05back down the five thousand four thousand like this this is %HESITATION trading guy says I look at the charts and once he explained it that made sense that that's a possibility the big point you go down to five it's also the possibility that they're going to just stop
00:13:18turning bust through fourteen thousand what's a buster fourteen thousand now you're sitting at fourteen to thirty five thousand dollar range and that's were bit that's what that's what Bill Clinton about booths at them in that range fourteen to thirty five that's a twenty one thousand dollars gap right
00:13:35so this is where we're looking for we look at %HESITATION John McAfee's Dick curve because he showed us a million ways so you guys are is that that's not what I meant his prediction yet well what a predicament I've got myself in here now but there is this
00:14:00this logarithmic line of that matches you know were his prediction would go over right there in line with it now but in order for it to hit a million by the end of twenty twenty it's got to have this exponential rise in the curve there's just no other
00:14:16way to get to a million from you know nine thousand how many it's going to have to grow nine hundred and ninety eight thousand dollar buy stock in **** so there is that here's another thing that might be up causing big points price to fluctuate futures launch you
00:14:37know it being %HESITATION being a thing that's happened there is a research paper that came out on Monday and %HESITATION these researchers from the federal reserve of San Francisco as well as a finance professor from Stanford believe that the recent price trend is similar to how the housing
00:14:54bubble developed in the U. S. during the %HESITATION the two thousands and so the the CBOE and CME group %HESITATION you know had %HESITATION futures products that one should they think that this is some you know part of the reason that we're seeing this downward pressure and well
00:15:12you know big money to start a kind of control some of these bigger currencies and as the price has dipped down then big money can go in and buy up a whole bunch and you know that's what's kind of interesting that you know so with what we've talked
00:15:26about futures in the past and there's some other stuff going on there they're buying crypto in unprecedented levels right and what's interesting is in our in our next story you know the wealthier actually hoarding you know upwards of ten billion dollars of bitcoin in bunkers and hope groups
00:15:44make doc I see them you know they're tossing bitcoin everywhere yeah the probably the USB drive right or or you know on a trace or something in seaside is under threat you can't swim in points the way they'd be quite the way Scrooge McDuck did with you know
00:15:58in the balloons and all yeah that's why you you name I wanted a vest a little bit and get some crypto gets in the middle of this although coins yeah well you know those ones with the big point logo if you really love crypto don't just put all
00:16:09your money crypto would someone golds over because the price of this so undervalued right now I mean it should be where you are and what it actually was I'm not but I'm just saying think about it because there's some really cool coins out there you can actually combine
00:16:23your loved by you get those silver bitcoin since over like coins in neos and then there's fun stuff I mean the I. I've gotten into you know picking up a few points here and there from %HESITATION was it jeep JM William nerd billionaire out of some of the
00:16:36actual technical and write one Jambo inlay well in Brooklyn over there and they can send you real point so it's actually taking digital money from thin air and actually putting gold and silver is actually an interesting it's a fun thing I don't have a whole lot of gold
00:16:52and silver but it's fun half so this article here we've mentioned Argentinian entrepreneur when cysts is ours before on the show and %HESITATION he is a up a big point optimist and he is basically an evangelist out there telling that Silicon Valley millionaires and billionaires about big point
00:17:12and it's a global currency and he started a company called zapco X. eight P. O. and he's got a network of underground vaults on five continents including one in a decommissioned Swiss military bunker and so what choose apple clients said that the house roughly ten billion dollars of
00:17:35bitcoin him those in in those bunkers house having a conversation last week with some folks about how is probably what banks will be in the future is you know the big banks with digital money how's it gonna be it's going to almost be like faults where we store
00:17:52crypto where it sort of has like a fight co type of thing words or or what is enough I co what what is it the %HESITATION the insured is if I go where they insure you up to a hundred thousand dollars like a fighter yeah it's so that's
00:18:05what the banks of the future look like we're gonna be storing crypto and if they have some crypto in the probably gonna try to do some fractional reserve banking like they've done before like I we have a million dollars for the trip turned out we can train our
00:18:16our some crypto derivative or something right so digital money in my opinion is here to stay I'm not a financial adviser I'm not a future adviser but I mean it looks to me like you know more and more people are jumping on and %HESITATION more of these organizations
00:18:33are jumping in as well matter fact the next I will it before you go and I want to just want to say one more thing about this had a great transition I know but you eat this is like this is gold under way as to how this works
00:18:46is there you know what how do you put it in a vault in how do you secure it like what is that so they put on a cold storage mia and then they later on other electronic safeguards on it and if you want to get it out it
00:19:00says retrieving bickering from the vault takes two days they verify a client's identity they authenticate the request than a manually sign the transaction with private keys for multiple vault locations approval from three vaults is required for any transaction to be authorized up so I mean if you're gonna
00:19:20you know of all means it's gonna be super duper super secure and I I think that pooper to Cuba booby Scooby blue line did a little Kanye west here yeah I guess so scoop poop you never did hear that so there isn't a song of mine okay and
00:19:36now back to Travis is transition already in progress yeah so I mean it's it is fascinating I mean how do you securely someone's definitely needed in the grip of space expressly how if you have a but if you have a billion dollars worth of cryptography imagine how paranoid
00:19:51you're gonna be so it's good to have those things %HESITATION within some various different vaults for sure and other organizations are looking into crypto as well the nasdaq CEO has said that cryptocurrency plays a role in the future done I dina freedman she told us CNN's %HESITATION fake
00:20:11news a journalist poppy Harlow that she's optimistic the blockchain the technology in a pretty group does will play a nice role in the economy of the future and that there is a nice video there that you can watch in the show knows the talks all about that so
00:20:27you know not only that but %HESITATION then we discuss was discussed last week the owners of the New York Stock Exchange is looking to potentially create a an exchange for crypto right nasdaq has talked about it as well so we're getting real in in in institutional you know
00:20:47lastly about the space and you know start execute move forward on some pretty interesting projects I got a follow up on this just because it's so funny this Kanye west song that came out lift yourself is this like this normal Connie song until it gets to the end
00:21:04of the song and when you get to the end of the song his his lyrics are about poop poop de to scoop scoop de did do whoop whoop de scoop the poop poop to scoop the so on and so on and so on and people are wondering if
00:21:24uses trolling you know the internet there's an article link to Mashable but what the specially humorous is somebody took those lyrics and they put it to video of people scooping poop with perverse Sam so you guys get the treat of of experiencing that is well in the show
00:21:43notes you maybe think that has %HESITATION that song idea may not have been fully baked it's a crappy kind of crap is that crappy song so what anyway to this group so the CEO of a bi Nance his favorite exchange wrote this piece on linked in ice CIOS
00:22:04not just quote good to have but unnecessary we have to have the I. CIOS you know well I chain gangs out he said from his own experience watching hundreds of other projects to close the distance he would say that raising money thrice feels about a hundred times easier
00:22:22than traditional V. sees if not more and with the ease of raising money increase logic says will be a hundred times more start ups well funded start ups well art where I CIOS are allowed and that he went in to talk about how courting in VC investors and
00:22:38doing powerpoint and business plans and pitch dachshund executive summaries and due diligence term sheets and all that is %HESITATION yet such a huge cycle spends a whole lot of people spend a whole lot of time on that or you can basically write an awesome white paper about your
00:22:52past a dream project and raise twenty million dollars and in ten days yeah from thousands of people around the world is bigger language from tough tough decision right here and you know one of the points he makes %HESITATION is that if you wanted to participate for example in
00:23:08a fifty million dollar round for uber and you only had a thousand dollars to invest they're not interested in your money says even if you had a million dollars they may or may not take it you need to be a high profile famous VC investor in so it's
00:23:22difficult for regular people so you know what we look at how people have been crowd funding projects on Kickstarter indiegogo and that's really all this is right we are going to kick start our company using an initial point offering and we're gonna allow everybody to play of course
00:23:39here in the United States right now we insist on making things difficult because you're not to be trusted with your own money in euro and be responsible for your decisions we need to protect you %HESITATION ends but other places of the world pretty much most places you can
00:23:53invest in a one eat their ICO as a minimum some of them even less like point one he has all that it's needed to play and so people that want to speculate invest a little bit and something they believe in they can do that you know this been
00:24:07one of those interesting interesting times because I think was back in two thousand thirteen of the government finally allowed a crowd funding and investing to happen and I was chatting with a you know a business associate of mine Thomas Carter who is running this thing called capital services
00:24:23group who now has a large deal box which is like a blockchain business accelerator and crowdfunding platform we were having this conversation the two thousand thirteen before hearing him had been launched like how what are the mechanics of taking starter and and in the go go to be
00:24:39able to invest in companies but those are my questions like yeah I love this device that you're creating here on Kickstarter but how do I invest in your company right I want to be a owner in your company I want to get I don't want to just buy
00:24:51your product I don't want to just be a consumer and ice fields of really taken the world by storm by allowing regular Joes and regular jewels to invest a small amounts and and have a chance to make some returns it why do these big rich guys these global
00:25:09banking lead in venture capital elite why are they the ones that know where they the only ones who get a win big boom not fair not fair you got up there so chasing goes on that to talk about some of the %HESITATION the problems of misconceptions you know
00:25:23the wisdom of crowds certainly plays in to %HESITATION to icy owes the more people that have the opportunity to play you might see trends there I like to look at telegrams to determine you know just how interested people are the ones that do you mega air drops those
00:25:39numbers get skewed a little bit because people are just coming for free crap does and he also makes the point that their scams everywhere the scams haven't stopped I still get text message scams you know when emails the the quote unquote IRS calls me this is the you
00:25:55know it's a bot who's got one of these this is the Internal Revenue Service you are doubly going to please call us at level in its all scam right to try to build people so %HESITATION has phone regulation helped to stop that has the do not call registry
00:26:10stop thieves from calling anyway know their end of the final point makes is about ideas have a high rate of failure just lectured to any start up right well that's the that's the whole point like in the traditional VC world angel investor world nine out of ten start
00:26:26ups are failed within what three years we're done nine out of ten if not more than that ninety five out of a hundred right so it remains to be seen name the fail rate of ice yo's because you know not a lot of them I have fully bake
00:26:42their product yet have a fully locks because we're still in the beginning stages they get the funding now taking that funny in the building the projects over these next three to six months Mister Joe com we're gonna see the rubber meeting the road on a lot of these
00:26:54projects are they real are they fully baked did they actually do it or do they take the money and run are you perpetually hungry you always talk about bacon things like fully back not to stare at everything you're so big %HESITATION there's a few other companies than in
00:27:11places that are leading to the blockchain one of them you may have heard of the did the gentleman running around and in ladies gentle lady's as well running around in the brown shirts and brown shorts in the the UPS people add this article from the fanatical futurist dot
00:27:29com UPS bets on blockchain to transform the one trillion dollar shipping industry all about that supply chain stuff you had many conversations about this as being advises of ship chain right in the and helping them with their ICO which they didn't even after they actually have to do
00:27:45when I see you know because they raised all the money prior to but chip chain and this the supply chain is such as it is in my mind the second biggest use case for blockchain aside from banking you got banking and then supply chain look at the problem
00:28:01here too it says this article the FBI estimates that cargo theft causes an annual loss of approximately thirty billion dollars per year with an average theft of a hundred and ninety thousand dollars and that can cost consumers up to twenty percent more for their goods and because they're
00:28:21not be able to track this stuff you know from point a to point B. you've got these old methods of you know pen and paper and manifest logs and it's so easy to scam at thirty billion dollars a year of cargo theft now I mean that's the dilemma
00:28:36Hargrove like that's like way more money than I have like my car was parked out there and then it's gone word McCargo and that was you had to do was that was horrible here's another one big company Facebook what do they want to do what what they've done
00:28:54is they've taken the messengers David Marcus he is going to actually run a brand new team that's dedicated to researching and diving into blockchain and how Facebook should be using a he's gonna leave messenger is a take over this new internal team that is exploring watching technology they
00:29:13want to find out you know what they can do with it from the ground up how can they you know benefit Facebook from the ground up with block chain and you know for one they need to create the F. B. coin and every time I create a hilarious
00:29:26status need to pay me some F. be quiet you know I'd be good with that but here's the thing all of these companies Amazon we're still waiting you know when nothing is starting crypto Facebook when they can integrate crypto Google at some point can integrate crypt on the
00:29:40question is are they going to develop their own block chains are they going to develop their own queens or are you know some of these coins that are out there now crime to be harvested so you know when it be amazing as you and I both have you
00:29:55know or holding a little bit a stellar lumens as many of our listeners are as well as for those of you who listened from the beginning you had an opportunity to get five hundred three lumens when they were like one and a half cent and now they're like
00:30:07forty cents so if you missed it you should've been let's all on a lot of second we do have a couple invites we do five hundred we haven't decided how we're gonna mention we're gonna give you five hundred lumens which is essential they're gonna given today are you
00:30:22don't actually have them yeah they they gave them out to you yeah they gave us invite code yes we have five hundred stellar lumens which is now worth about a hundred and fifty Bucks thirty cents your your math is always on the thirty cents today is not to
00:30:35this new role yeah drop her only some down to thirty cents I saw this morning as one hundred fifty dollars worth of free stolen so whoever writes the funniest review this week the one that makes us chuckle I will read it on air and then you will get
00:30:54five hundred free store was a we we will decide corporately will vote here a we are the panel of voters my vote is worth fifty one percent so make me laugh okay so lumen so you know what if what if in this is pure speculation with no evidence
00:31:11to you know support that it could actually happen but what if Amazon says we're going to start using stellar woman's blockchain for all our of our you know II commerce crypto transactions holy cow I mean the whole market's gonna go nuts whatever Amazons as were taking crypto Jeff
00:31:30Bezos knows it I don't know why he's waiting so long but this is going to have all the tile right but here's the thing is that if they have sort of skin accepting bitcoin back in the day when it was worth forty dollars or four hundred dollars and
00:31:43then it becomes worth nine thousand dollars I mean just hold on to the you may just made a much extra money it becomes it becomes a money and the and the consumerism as a an investment vehicle kind of rights I give you you accept payments in bitcoin bitcoin
00:31:57goes up over time you've not only got money from the product that you sold but now you make the investment opportunities there so you know Joe's completely speculating about stellar in an Amazon I've not seen anything know they're talking about %HESITATION evidence like that like you mentioned %HESITATION
00:32:11design speculation it's a hypothetical %HESITATION on that speculating I like stellar just because I like stellar alike how fast it is in the gym Jim McKay love seems like a cool cat actually have him back on because we use our first one we had on so around our
00:32:27year anniversary should have maybe give us more US dollars to give away to our listeners fans for sure judges get put on the spot scoop job but a lot so Doug Martin who is serving as the science and technology director directorate take to it what is this directorate
00:32:46of the cyber security division and department of homeland security testified before two congressional subcommittees last week and he basically is is telling Congress that blockchain uses are almost limitless limitless limitless limitless that means there's no limit does good but what can be done for you so you can
00:33:07read that article you can read about that article because they are almost limitless we talk about all the time how many industries are being disrupted by it governments need to use a blockchain in ways that keep them accountable I think that's important and and it's interesting one of
00:33:21the examples that he used here is about supply chain in digitizing all that you know just got done talking about that American IBM began a collaboration we talked about before and they started this thing and in two thousand sixteen about how the paper work for goods it you
00:33:37know it doesn't always go with the goods that it needs to be care you know that they're shipping it with the containers and it becomes a big mess so more validation will speak about those current congressional conversations around crypto other was big news last week that the theory
00:33:55I'm and was being discussed as potentially a security and that there was going to be a an announcement of what the SEC thought of finding a finding what in reality what was happening was that they were meeting to the CFTC and the SEC were basically meeting to discuss
00:34:15Etheria and what do they what do they find out %HESITATION I love that if you guys like little jingles that is from eighties Jay and %HESITATION his picture and notes are there any fun to do it on five or we found this dude on fiber and he was
00:34:52like dude let us let me do new songs for you each week about clipped to his he loves script I'm servicemen collecting crypto since like two thousand thirteen the rock and and %HESITATION he's also the dude who did that of the welcome to back crypto a song that
00:35:06you'll hear soon not today as a we haven't you guys have you not heard yet but you will hear it soon and fun and you're gonna dig it so yeah %HESITATION Joe Lubin who is co founder of a theory M. says quote he is extremely comfortable that the
00:35:20third is not a security %HESITATION we spent a tremendous amount of time with lawyers in the US and other countries are extremely comfortable snow security it never was a security we are absolutely on concerns about the current discussions home sweet home I love that you have a big
00:35:44family crew back and you guys are going to be saying in that now all day and all night well it wasn't a nice little Easter eggs are you would expect that you would expect us to drop hilarity in the middle the news like that you never know what's
00:35:59coming next on bad crypto we reference to the banking on big points a documentary several times here it's on Netflix if you haven't seen it and definitely worth watching but this story from coin dot com says new movies featuring big claim hitting theaters soon and so you know
00:36:19people are talking more about this in in every day conversation and it's making its way into a remake of the nineteen seventy two crime drama Superfly it's a two thousand eighteen version and %HESITATION %HESITATION Sony pictures for this is not like this is not like a little independent
00:36:40sort of a funny thing this is actually a real a real official you can watch the official trailer here and what what's what's happening here is the main character is a drug dealer who wants to quit the dirty business and so he swapped cash for crypto would redefine
00:36:54the hustle and Superfly is basically it's like a remake of the nineteen seventy two movie is that Joe mentioned Superfly and is now dealing in crypto instead of cash and he basically is going to be because these cheese chasing six thousand big points on a PC sold upon
00:37:13shop and %HESITATION yes no that's a different little movie has a different movie this article actually references three there's that one while in the than the last one talks about %HESITATION Silicon Valley the %HESITATION the showing on HBO and Guilfoyle who I still see as the nerd on
00:37:30freaks and geeks I mean that the you know from from long time ago but he actually he's he's done well moved on his career and %HESITATION they reference a big point in in this episode several times so I it's it's actually pretty it's pretty hilarious I've seen the
00:37:47clip that every time a big point goes up or goes down at a certain swing it it is the sub price this is a this little snippet from the song death metal song you suffer comes on like really loud everyone's like freaking out every time every time the
00:38:06dozens of those pretty funny and %HESITATION finishing up our news for the most part for this week wall way the Chinese phone company that is is pretty much banned in America because they say that the Chinese are spying on us when in reality the you know all these
00:38:24countries are using while way devices and they've never found any issues on this so there were always smart phones in the future going to have bitcoin wallets and that it will they be wall wets wall where there will be wall words and other than a big one wall
00:38:41what nice nice Mr joke on us so I'm actually a wall Wei ko while keeping your leader and I believe Joe com is always kind of an active one and only ever done any I have no opinion you have no opinion it's the thought because that they they
00:38:54%HESITATION they sent me a phone up it only works on eighteen T. and I'm not mess I'm not having that I'm not I don't want no eighteen T. mobile actually could do is get a %HESITATION an old school I did this free on eBay I bought a %HESITATION
00:39:11a T. mobile card prepaid card but it's like in a vintage one it's like I'm %HESITATION bass he's gonna put ten dollars on each year you gonna have you to keep the phone and so it's like I have like a little separate phone and now I'm actually using
00:39:23that phone number for a lot of my sort of crypto things because of its own traceable nobody knows the number that I have it's on published and that number is in you can't sim card you can't sense what but the number is it's very it's very secret at
00:39:37seven OO eight eight eight five nine zero three zero nobody knows whether this southern Belle hack that one I wonder who's number that is I don't know who just kind of those who figure don't call that number please yes I know eight eight eight five nine zero three
00:39:49zero and finally a Lambo has finally created a vehicle that you can actually drive on the moon and it's not the sports car it's a Lambo Land Rover it's not it's actually it's a tractor it's a tractor you can literally mow your yard with a lamp I had
00:40:07no idea are gonna go well with my Lambeau a friend of the show Sebastian and all our flinch friend who works for the knoll easy bludgeoned Divisie old any told me is all your accent is wrong instead of going up when you finish your sentences you should go
00:40:25down this is the correct Dio there you go down miss you so he sent me a picture and it's in the show notes the eyes to see they actually have a number of different tractors Lamborghini dash tractors dot com so well when you finally do get to the
00:40:42moon you'll find out that they have a number of devices which will get much better traction there I think on on the moon you know don't want any this John Deere green you want Lambeau silver yeah do you find a farm I'll be rocking the Lambeau tractor can
00:40:59you see these farmers invest in bitcoin Mowlam Bo I got myself a Lambo I'm gonna go cultivate some land yeah well we appreciate you guys thanks so much for listening to the back of the podcast have you shared the show with a friend today friends share sharing is
00:41:20caring you know what if you just told one friend about back crypto and got them to listen to the very first episode bad crypto is bad co dot I in forward slash zero zero one because that's how we have it set up or if you want to have
00:41:35them listen to a %HESITATION one that we created around thanksgiving after we were a little more knowledgeable bad code on a high and forward slash zero five three that's an episode were really go any kind of go down the rabbit hole and talk to people about how it
00:41:49all works and why it all works why crypto is is becoming so important tell friends share with your friends let them listen to the show to say Hey listen this one episode if you like it cool if not cool but I want you to what you don't want
00:42:02your friends to be a have not down the road and I we were having some conversations here the world's economic forum people though the world is changing so fast five Jeez coming it's right around the corner all this automation in a I artificial intelligence with machine learning all
00:42:16this stuff it's gonna put it's gonna change changing the face of commerce it's changing jobs and you know you want your family to know about crypto because if they get in sooner than later they're going to have an opportunity down the road that they would not have had
00:42:30if they had ignored crypto like they are currently doing and as Mr Ronnie mo I said he said that the risk of not investing Ronnie RO in I the risk of not investing is greater than the risk of investing at this point I think that somebody out there
00:42:47that's graphic designer maybe design a tee shirt that says friends don't let friends not crypto in right field goal of Ronnie the rule of Ronnie risk of not investing is greater than the risk of investing at this point because you know what investing crypto and if people think
00:43:05it's going to have a million dollars right now it's at eight grand eighty five hundred dollars and you buy a couple of them and you say you know what I mean by this even got a file hole one is by some of it and maybe by half a
00:43:15big one for a few grand and it turns into a million dollars down the road that you have a half a million dollars you're gonna shave a few years off your of your retirement yeah you want to be in the dollar shave club anymore you'll be shaving half
00:43:27a million or something like that Israelis were not mine out of financial adviser we don't know we don't know much we don't and I think we peaked in November he said when we get our expertise got a little better we actually know a little less now we do
00:43:37so yeah you should have like because that that that that's right yeah we were mooning miss you Mr morning I also decided as we leave you guys today that %HESITATION I I might get a dog and I'm gonna name and that there are dogs no will just give
00:43:54his name bat sentences the certainly regulate all that weight well that way when the you know I want him to just not follow me I can say stay bad the bad part yes is a production of bad crypto LLC the content of the show the videos and the
00:44:15website is provided for educational informational and entertainment purposes only it's not intended to be and does not constitute financial investment or trading advice of any kind you shouldn't make any decisions as to finances investing trading or anything else based on this information without undertaking independent due diligence in
00:44:34consultation with the professional financial adviser please understand that the trading of bit coins and alternative crypto currencies have potential risks involved anyone wishing to invest in any of the currencies are tokens mentioned on this podcast should first seek their own independent professional financial adviser

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