Is cryptocurrency being used for evil purposes? Is Bitcoin the primary method criminals depend on to sell illicit goods? And are terrorists benefitting from the rise of crypto?

Get ready for some profound content and discussion as we welcome Oz Sultan, Board Member on The Homeland Security Foundation of America, to the show. Oz has worked with world leaders and dignitaries from around the globe, and he’s really got his finger on the pulse of what is happening with financial markets and the politics of crypto. Plus, he’s just a really cool guy to hang out with.

He’s the Sultan of Crypto, so follow us down the yellow brick road as we’re off the meet the Wizard of Oz Sultan on episode #119 of The Bad Crypto Podcast

Full Show Notes at: http://badco.in/119



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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.

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

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00:00:00is cryptocurrency being used for evil purposes is Bitcoin the primary method criminals depend on to sell illicit goods and are terrorists benefiting from the rise of crypto get ready for some profound content in discussion as we welcome Oz Sultan board member on the homeland security Foundation of America to the show Oz his work with world leaders and dignitaries around the globe and he's really got his finger on the pulse of what's happening with financial markets and the politics of crypto plus he's just a really cool guy to hang out with he's the Sultan of crypto so follow us down the yellow brick road as we're off to meet The Wizard of Oz Sultan on episode number 119 of the bad crypto podcast
00:00:56both jobs.com
00:01:00deaths on big toys
00:01:19Yamato welcome to the bad crypto podcast. Com yeah yeah I had one of those the songs we should have more of those if you are a fan of the bad Krypton you have some music skills and want to submit a bad crypto jingle feel free you can email us at bad crypto podcast at gmail.com the Zilla app that is available on the IOS operating system that your iPhone if you don't know that apple is IOS you can download it in the Apple App Store and this is what you used to look at the ico's that are available out there and determine if you want to invest safai in that we're allowed by law of course this is an early build so there's no chat or wall
00:02:19open the app Yep they're coming soon and for you Android users that's okay we got yours coming also download the Zillow app on the App Store do it today Zilla voicemail you have lunch with my beautiful girlfriend
00:02:46we're off to see the wizard of oz I'm the Sultan of Schmaltz is the one the only opening Oz is a tech and marketing industry veteran he's got 20 years experience developing innovative solutions for Brands and Fortune 100 companies those are all the biggies he's at the Forefront of the American Muslim Affairs as well as diplomatic and Interfaith engagement he is also a board member of the homeland security Foundation of America EDD he has created a digital anti Isis framework encounter radicalization and disruption methodology for stopping online tarot we're going to talk a lot about that about counterterrorism about social media about a big data where talk about the Trump campaign and the Oz regularly contribute to Texas
00:03:46GOP vote the ish and Newsmax welcome bad as too bad crypto Aloha house everybody should do well in one thing about the Crypt about terrorism and Isis and Trump on Mobile Highway there is that we found Isis using crypto to sell people specifically yacht CD slaves and human organs which is kind of what led me into all of the script of craziness at work today right there unpack that us Google Oz Salton space US Army cyber what you're going to get his last Falls US Army cyber defense review which has an article that I publish that was based
00:04:46studies that we did private studies including a Twitter analysis some analysis of how Isis radicalize is online and what the framework which is which is literally like it's a mixture of call philosophy and multi-level marketing so it's strangely just randomly perplexing at thanks a lot of folks that didn't grow up in like eighties and nineties America where I'm at but it's it's like a cross in between like Herbalife in you know the Branch Davidians in terms of what they do things but that the reason we started looking at this more heavily and if you think about not just Terror groups that you think about white supremacist groups an extremist groups you know it used to be if we go back to go back and take a tour to you talk about like the IRS talk about you know DPL or something the only way to send the money was to physically put it and send it to some post stop somewhere and hope they got it
00:05:46what has happened now with the proliferation of the internet and the deconstruction of I think the traditional standard
00:05:56cultural edifices that we had inside of you know Generation X and even top Millennial culture the bottom one Hill culture Generation Z culture literally has lived with like a lot of things they would without further lot of things that we had there is no cold war they don't remember the Russians they don't remember Germany with a wall they've never had to experience the horrors of War cuz we pulled now showing American soldiers bodies coming home off the television set somewhere around 2004 they have not had to want you know the way that we would want things and that's where the video ology coupled with a lot of malaise okay and take a look at the inside of the truck Killing Spree up in Canada
00:06:56this weekend and you saw you find a lot of parallels inside of the Isis ideology that I've been that cold out there and really Generation Z and Millennials mystically 60% or more are more likely to leverage crypto then they are stocks bonds and a traditional you know investment vehicle that their parents have leverage and so the proliferation of Bitcoin donations across the course of the past five years to Terror and Insurgent groups as well as you know anti-American groups that are out there inside of our domestic orders has proliferated what happened was when you jump
00:07:56thousand people started mortgaging their houses but what happened in the opposite side of this was if you look at terrorist organizations and I were talking Isis al-Qaeda in the Arabian Peninsula al-Qaeda in the Indian subcontinent African subcontinent these people got a lot of crypto in donations so what happens if you don't use your Krypton it's it's right for a while I mean in certain cases they buy reasonable estimate sitting on something in excess of 30 to 50 million dollars and if you talk to any of the the nonprofit nongovernmental organizations building in Europe what they trying to do is purchase the women back because there's no NGO the black she go in and when they tried to purchase the women back what you're talking about is
00:08:56you know anything in this is going to be graphic but anything from Virgin to a woman who has been systematically raped by does the man on a daily basis you know extracting them ranges from 15000 to $40,000 us is really kind of bridging there's three worlds here that have to be rich one is that a culture so there's a Generation Z Millennial culture that is significantly different than what people and you know I'd say traditional Warfare are custom to of the cult structure and the call structures in Caucasian inside of stealing ideas from Muslim books and tenants and radicalizing them and methodologies that now fit a weapon I structure and so now what we have is these New Radicals
00:09:56the currency so that's what the Venn diagram looks like and it's a little sweet spot in the middle and you know we've consulted and security Affairs over the past year-and-a-half I've talked with a couple major peanut company is one of which was subpoenaed by the justice department in for you not getting sued and shut down for this episode of the name them but we talked with him last year and I was like Isis is using your site to sell women and sex and then I was like yeah they are and three weeks later the Justice Department's so a lot of that got us into this space a lot of that kind of started the process of me and then what I was working on last year was a Ico which were going to come back to you later this year put basically tacos the problem by helping us crowdsource the information to disrupt these activities on the dark web and do what really needs to be done and let doing what needs to be
00:10:56no idea that you're going to stop human trafficking bullshit what you need to do if you need to make it fucking expensive okay but the idea that you're going to stop online purchasing of these types of weapons and the least expensive and time-consuming to do that they don't find something else to do that's the only thing that's going to fit so going to disrupt it and that's really the idea behind OTE it does not exist online at at this juncture it will be at OTE. Net and we're planning on getting started on that later this year
00:11:42BCT that I owed watching terminal is
00:11:46is closing this week or this coming week I think so we wrapping up that I see oh and that's going to bring the first multi-platform trading to crypto that has a huge compliance based on the back of it and the ability to look at any other I see how is kind of a nap and feel that into an ecosystem where you know we partner across the industry to give people the best information listed under the train bridge from Isis really sucks and they're doing some horrible things with crypto to set up a well done thanks guys thanks and when I looked at BCT as is like what they're safe playing to start with because all this comes down to is Regulatory Compliance and making things that are you know illegal or immoral
00:12:46unethical expensive if you can do that you can stop it and we seen that time and time and time again you know where the history but what really attracted me to the blockchain terminal does the facts about 2 years building this product called compliance card which is the underpinnings of all of this which basically runs you know it's it it's a immutable record of everything you do on the terminal so track volume trading activity if you authorize it to the old track you know where are integration with the sense token so practical your chats we partner with training Jean it's been you know tricolor use Baldo's not sort of thing from East Centric media I mean we're going to have to know next Generation video on there with people actually know what the hell they're talking about in crypto in that people like you know your MSNBC or CNBC or no about the CNBC crypto people or like is IBM a bit coin company you know it's like
00:13:46watching the blushing come around I have a question around this because you hit on a whole lot of things in your opening statement that and then you then you make that transition I'm curious about a mile Travis is Oakland's questions and I know that you know he mentioned how crypto is being used by ISIS and terrorism terrorism in in terrorism is evolving from the dollar is also being used for terrorism okay then the thing is that is harder to track the dollar that's when people getting pissed about ripped out if it really comes down to it I can pretty much tracks a lot of the stuff that happens in crypto what it comes down to the reason that you know we necessitated when I see all around it is that what I want to do is I want to partner with governments I want to partner with intelligence agencies
00:14:46because at the end of the day you know what you think about this all right what we did was Krypto inside of a month with Bitcoin hitting $20,000 is that the crypto Community made major intelligence-gathering operations like carnivore obsolete like carnivore carnivore is a c i n s a backbone I mean it's if you Google it they're all this information public domain but if you think about this the information that intelligence-gathering organizations from the 21 Chinese organizations to our national security apparatus to the FSB were all made reasonably obsolete by crypto in the reason that happened was because the Paradigm of information changed all right it's not like you can you know if you think about this if someone has a Finney phone right which is the new blockchain phone with blockchain wallet Siri Labs it's coming out pretty hard for people
00:15:46show me pretty hard for them to scrape your network trap cross that when the same thing kind of comes down to the utilization and distribution of what fruits have become as for as I'm sitting here in London and I just talked to you know the founders of X-Plane I'm looking like what they're doing when people come to a utility proposition of simple wallet that allow you know the Mean Girls of high school and the Nerds at the opposite end of the table to have the same type of technology to buy crafts and the pay for stuff that's when the stuff starts going mainstream and I really see that inside of the next 24 months I still kind of you know wideband adoption that we don't have any that's the reason that I said look you know we just so you know I'm wearing
00:16:34we need a fucking save our country you know what because this is a huge fucking wrist like if you look at any of the post that I've written a Newsmax you know I kind of covering more of the terrorist up I'm going to get back in touch in the fridge. It's just kind of think of a good Segway to introduce this stuff and I think this is kind of like the gateway drug to start the conversation because you guys aren't you know how difficult is that you know some of the stuff that I'm seeing here is very utilitarian and driving towards that but
00:17:16need weed we need ways for government to work with crypto in assistant manager in fashion that allows for the economy development of markets right but at the same point in time is reasonable personal privacy and security leak and you know the fucking cock yeah they should get caught but you know I don't know if I should necessarily be at the the cost of all of our privacy and I also think to let you know inside of this whole argument of privacy and where we're going and you know what should be happening and how we should be rebuilding or our next 10 or generation security apparatus cuz that's what has to start app is that a conversation has to be had about the breadth and depth of Krypton where this is going you know because it's 10 Sibley what crypto is my mind is it's very much like the seven layer diagram of development that's out there you know when you're developing stuff for like a nap all the data that travels in the back of the cop goes through
00:18:16OSI model with seven layers information and that goes all the way down to packets of data that are transmitted and what I'm thinking is that if you look at the evolution of the lightning Network development of new protocols and every new person is coming out in Saginaw
00:18:37I used to know. Are you in about it it's it's these types of things are we were going to move towards the world where on the bottom level this is a whole bunch of protocols that are transmitting data and replace existing ecosystems in infrastructure from Banks to you know what you two like Amazon Amazon ostensibly is nothing more than a transmission protocol for goods in between multiple Hobbes write Amazon could easily be replaced by something on the blockchain completely the order system in the tracking system opportunities are for the development of like really. You know the tops of the future are everything from I know adopt it like that allow people to Patron Style
00:19:37pay for access to the bad crypto podcast to you know adopt that would allow people to processor immigration into a country that would allow you to basically use a crypto bang to authorize your you no credit for the purchase of a new car I mean all this stuff is coming down the pipe it up when I find really exciting and specifically said he's on his way to LA and I'm going to be there next week but you know thinking about the opportunities for this this is kind of the feeling is kind of like you kinda have to imagine what Andrew Carnegie felt when he came back to America with the designs of Steel plants in it had in and basically did the first you know British don't like it but no K Tech transfer to you know Bill the first plants in America it was like The evolutionary change
00:20:37I know but we're going to right now it's just a people inside propeller the only one seeing all the bad that comes with it you know for hundred million dollars and in fraud last year 700 million so far this year then what was the one I C O took like 20 or 30 million in row time of cheetahs like under those all those left on the website stuff like this happening I mean that's that's where I talk to me on the BCT thing came in the play Mika what's the stop this stuff from her we want to stop all this stuff or not but you know taking on from what I started with seeing now this has to be fit into a consumer side and has to be studying so National Security model the opposite side of this one that really allows you know I think mainly the American government to work in cahoots with it
00:21:37history do you say listen there's going to be effective data sharing for the prevention but there should also be the availability for people to live their lives with some sort of you know what's around that real quick though because it's like you you talk about you know the sum of the terrorism stuff and how crypto Community is using it and how do you know the terrorist or using crypto and it's making its kind of changing the game you know what the last month we saw I guess was earlier this month when Zuckerberg you know was meeting in front of you know the Congressional committee and was answering all these questions and it didn't seem like a lot of the congressman actually even knew what the hell Facebook was right there any of them just were completely clueless and then when you start throwing out stuff like terrorism and terrorists are using crypto that just I think maybe scares them on a level so what what can we do to ensure that you know that the crypto Community are the crypto space doesn't you know suffer from
00:22:37more regulation because of this and in and finding Solutions because it seems to me that a lot of politicians they don't understand Facebook let alone blockchain crypto I think we script folks need to understand that I roll is threefold that we are ultimately ambassadors of this newfound technology and protocol that can be used for everything from money to you know ensuring refugees are are the appropriate people that they need to be in providing documentation for the documentation right to those doing giving them all like their own card connected to a crypto and so it allows them to to be able to pay bills and get paid that's what that's a good used to watching others there's other startups like on and off which is here in the UK that racing thing like 1.6 million helping people navigate through different Road exit
00:23:37understanding self religious documentation to enter the partner company is working on a phone that basically when you deploy it to any Refugee lost in the crate and ID you know because what we have is this this huge problem of internally displaced people and refugees live in their own countries let alone you know the other countries you can also do stuff like loyalty poems for the story because you don't want this country why America size is built on great storytelling to go all the way back to you know the depression is I think we need to be mystify a lot of what is going on right now because it's moving in a free weeks in our industry is he
00:24:37here in traditional industry I mean I remember we used to say 3 months and social media was here three weeks is a year I mean it is not just moving fast and furious but you know keeping up with the information is crazy I mean we went from you know the context being just Forks to we started talking about spoons a couple weeks ago because the first spoon happened then you know instead of a fork splitting into two a spoon gives you an extra so it's listen to you know this one's on the main chain then here's to for you as a gift and then we can have a spork we should totally told me like right at that out we just like like in this company has performed to sport the world's first in crypto Sports we should totally do that was bad boy talks a lot about how terrorists are getting their hands on crypto and using it but what about criminals just in general because you know it
00:25:37why do people in the mainstream by that really don't know what's going on with dripped out know that Bitcoin thing that's just that's just for criminals so how bad is it actually thought I say that the stuff is for criminals is zcash okay the reason it's it's it's that is because it's reasonably untraceable and then Monday I have the added that extra layer encryption and now that's really only existing on money rosero Ashley when they were plastic don't even know if you've done the crypto Miner a split in before currencies and what you'll be going to be getting his letters from places like Colonia saying that like that were not supporting this anymore we don't support that wallet but if you want you can transfer crypto to some other place we have to take a look at at what are standards inside the community ourselves Wilson to take a look at you know what is the utility of these things inside of you stays on the dark web which is what we've done you know or the course last year and we're going to roll into or ice
00:26:37till later this year or early next year and thought is you know how exactly do you cross correlate this data and you know basically break some of the codes around this stuff we've been able to successfully do it or three cases one is Terrorism the second is child trafficking and that's not just overseas that's here and if people don't understand how big of a problem this is this is our time one of the greatest we have in America then president Trump has been real big on stopping that stuff or
00:27:14it's called Soft crimes you know which are which it's a little hard to have delivered to your house through ups but it is at Sea that you know they put a little sparkles and designs on them you get a minute and there were only to be used in Ballantyne yeah but they're they're the bomb
00:27:44oh I see you just left dad joke ever thank you for that well man I see I see if I fucking shit thrown at me after 9:11 you should if you're holding when they're in a wallet before the 4th I think you should be getting 3 new tokens or one new token depending on how they structured know you should have spoken in the two are new blocks that are being developed off of whatever block they branched it from I can't keep up I know I've got some Bitcoin private somewhere and I've got some Litecoin cash somewhere and now you're telling me I've got Monero that I got invisible coins I don't even know how to get them but that's it
00:28:44simply that you know I told you like that the Heathers of the Mean Girls at one end of the table the nerves at the other table
00:28:51they're the ones that win you know whatever this arms race of wallets is right now and laters institutions they're going to use you know guys like I one of my clients were just talking about like military grade storage in an underground bunker that the MP / okay and then there's like my mom who's talking about like you know just a simple Bitcoin account and like calling me panic when the Petro got banned by the United States Adobe by any petrol I would never but you know no we don't have enough information out there on us and it's super nebulous and a lot of people that sounds like a cross in between you know Swedish match which is like the first Ponzi scheme in something that's too good to be true from the 70s sort of hedge fund era and I don't think what they got is like what this real
00:29:51three eras all in one that is never going to happen in at least this lifetime again in this is like 1922 where they created your monetary instrument 1974 where they created hedge funds in 1996 pipe technology acceleration all at the same time and that's what's bizarre about 17 and 18 right now because we're going through and it's the inability of like the general public to keep up with the stuffing and all kind of need to do this after this I give a text and Dubai where I was just trying to explain to people how they should value tokens because you know not everyone looks at the stock no one not everyone understands basic socanomics or yeah, cuz I like him to call it and in one video but I might call it off because people like you
00:30:51system by which it just generates value from stuff that we had before that we didn't use the data clear was legal a PCT but I think I'll pop that up for talking about your National Security and we're talking about Monero and I have a question around you know so there's been some people have asked us know very separate channels and they said hey you know what are the thoughts that the NSA was the one that created bitcoin because if you look at this Mit paper from 1996 it looks like the NSA was thinking about this is this something that cryptocurrency is is is was put in the motion by some of these government because if we look at you know the eye
00:31:51a map and what they're doing with special drawing rights and the potential for you know all of the crypto transactions to go through sort of one channel one network where they can sort of monitor them all and you know it is that a concern is that cuz we will chat with us about that and then also if that happens where you know all that crypto traffic ends up going through a network where they at we know the international monetary fund can monitor that through special drawing rights and asset sizing everything is that mean that zika Shamu narrow have a brighter future because people cherish their privacy more so I can you unravel that or help us make sense to some of that right there so couple couple different points there one is that the IMF is panicked about cryptocurrency right now to your your point you know people should question
00:32:51is that said okay I'll take the money to pay it off over the British debt to us from World War I find me cheap like 2 years ago wow that took a while so you know that's how to fold phenomena in the United States most of the major back what I wrote about the sinews back most of the major Banks and most the regional banks have stopped accepting crypto deposits meaning money that was made by Krypto the reason for this is because inside of inside of the United States we got different regulatory body right and so we have the cftc which is the Commodities and Futures folks we've got the SEC which is the Securities and Exchange folks and we got the FED is the money folks now
00:33:51crypto outside of the argument is it a utility or is it a security let's take that argument set that's the right move that over what we have is the challenge of is it a currency is it a commodity is it a utility and no one can or is it a security security and utility in the same size as its property of the cftc right they may think it's a commodity then the SEC thinks it's a security and then other people think it's utilities that's very confusing Germany has to clear the cache France just dropped the taxes on it so they're not treating it as anything to the same taxes are lower if you use it in France because they understand bullet put it in the understand the velocity of cash I mean one of the smartest things that President Bush did was give everyone four hundred bucks back because what most you know Elites don't understand in America is a
00:34:51Starbucks a lot of money for a lot of people and you can do a lot of stuff especially when Christmas is making a lot of people happy to pay the gas bill news about a toy they didn't think about they can buy that kind of stuff Krypton Krypton games and you start looking at some of the early investors and what they're posting a 4 by creditor telegram channel so they watch like one Bitcoin charge these are people who like I bought my first Monero and what we're dealing with now is the equivalent historically Plantation workers opening their first bank accounts that's the social impact of what is going on right now the IMF again terrified started to come in I mean I know one of the other secretaries who actually used to be the Republic
00:35:47husband of the Republican County chair for the for Manhattan and he went to visit a couple pairs well Jen car was basically said that you know we want to allow this industry to develop and start regulating itself or he himself to you you know can you speak about that as you break this down more I can speak on behalf of being an RNC surrogate so what I will say is officially pissed that the Trump Administration and the current government is very optimistic about the future cryptocurrencies but would like to see a step towards formalizing regulations come from before it has to stop it. That's good to hear Okay carry on your last train of thought there and keep Fun Pack
00:36:47but but you don't need the general is that like look if you look at this from the global perspective the Japanese went for the kibosh do you know the FSA went in and shut down exchanges that were doing Yahoo's of stuff which was basically going to people's wallets taking their crypto out and trading it and then putting it back and you know if there were a bank that would be perfectly legal rights as Banks only have to keep 10% on deposit but you know they eliminated this because it going to go back to that like what is it is the currency security is a commodity the Koreans went and shut down the exchanges and then open exchanges because they realize that there's almost a billion dollars with tax revenue coming out of this and Europeans are moving towards some interesting standard Lichtenstein treats first major cryptos like cash right now for deposit so
00:37:47and will continue to follow the SEC dance still dance for the bigger problem was that America used to guide the world and they were a bunch of babies and why the Trump administration's position has been is that y'all have countries y'all grown go take care of yourself and I had met with a bunch of diplomats after the election and inauguration last year they were they were they were absolute panic because he expects you to just run your countries and if you think about this we're in no people like why do we need such a such a big military maybe 72 treaties right now that would call for us to go to war if any one of these people ended up in some sort of Marathon
00:38:47we are in 14 different countries in Maritime conflicts with at least 8 to 15 thousand troops deployed so that's what my buddy John milk on at the center for the study of civil military defense at West Point calls you know the stop pain in your side it's kind of like to say that you can never get rid of them that's the current state of war and then with actors like Isis you know coming to The Fray and then you know moving out of Syria and going it's Yemen and feeling as Africa we've got a new next generation of decentralized online East symmetrical crypto powered Warfare and that's what's got to be tacos and we're just really kind of starting to Buck up to it because this is the technology is moving way too fast for regulators and it's moving way too fast for love other folks
00:39:40they said we are getting we were aging a year every 3 weeks I mean we've gained Joel and I we've gained like 15 years already so we done this podcast is sages been like such stages of the unpacking the other part of the in packing to is that you know we need I mean I'm a big big. You know people say this shit about liking to get more women get more minorities out of minority it's not get more people in its make it interesting and enticing to people so they want to do it you know because you can't get more people into the plants make steel because guess what that's another problem we have in America there's all these skilled jobs that no one's going in applying for it that no one you know there's Millions
00:40:40so disappointed that big photo what she's doing we're partnering with them actually ever change terminals can I give him space on 10 you know just really guidelines and stuff we should be doing is that and then maybe you could do this with bad crypto cuz I definitely don't have a ban list but I'm happy to come on it's kind of like the bad guy because even the whole thing is too freaking retro 90s and copyrights know morons guide I think you should just have like some simple bad guy it's like you know like two or three minute guys that that are done like I'm a like like those 80s training videos it's like it's like don't Travis don't hit execute on that large purchase without checking data first double check that address or you'll lose your crypto like Joel Tom
00:41:40what's your name something some bad music that's actually really funny that that's the bad crypto guide to crypto something that's like 2 or 3 minutes segments that you can share with your mom or your grandma
00:42:03is that right what's I was I was sitting with some because the because here here they they are pitching like institutions than you know how that were people on the artist a room in Korea
00:42:18which was full of grandmas and grandpas I remember we walked in there at our translator was like that and there that was those brilliant why you no no I only only my second cousin twice removed because you do seem to be closer to some of the the officials that are making policy on this new kind of your finger on the pulse you know course McAfee says he's going to be eating at AC member if it does
00:43:18In A Million by the end of what is a 2021 $150 off so you know what are your thoughts knowing the math of this knowing that we have just mind the 17 millionth Bitcoin scarcity continues to you know go up while Supply goes down we've had this massive Bull Run followed by a healthy pull back here we are at 400 billion market cap right now what is your prediction as we move through this year to the end of the year and then beyond well I think there's there's a guy cell in terms of regulations on the European Union has the thing called memory to which is going to become a huge problem for banks and it's going to make her feel way more attractive and what that basically means is let's say before Joe went to his Banker Travis the Travis thing they said hi Travis
00:44:18psycho by home mortgage and Travis goes okay let me go to my mortgage desk and you know he calls I don't know Mark and Mark says the raid 7.5 + and Travis Sprint Customer he was better 80s find 7.0 and it just breaks and he comes back at 7 so what does every single product you self Bank you have to have 3 prices you have to shop it now with Cricket on the blockchain we can do that in like milliseconds how long do you think it's going to take a bank it's never done that like come up with a process for them so that's going to drive people to start looking at rip those specifically from the institutional side and that's going to come in a global basis because everyone does some sort of business with Dora the second thing I see that is a larger scale but you know what the what are the predictions was that there's going to be a state
00:45:18117 I think I finally came but it's really just an oil back token and not estate crypto I think there is going to be a move from the African countries you have to bitcoin who I met at the most conference out to buy I think they've got a great proposition the folks are behind feed a which is a new token wanted to know was one of the founding members are Donald John I caught up with him earlier today and that's really again looking for power some people are like a couple of dollars I move towards a shift from monetary systems the bank with your opinion Seymour crypto
00:46:18tremendous on opportunities of a break this is one with the Stars is this to put monetary system in countries that really didn't have strong monetary systems overnight and create the ability for Community Based lending in a variety of other things that are reasonably altruistic. Also Drive local economy congratulations Happy Birthday Twins on the only player in town we are currently mining 10.5 million dollars worth of hearing something like that has been discounted by other folks and so will kind of have to see what plays out with that but but you know. That's something to watch use currently hit 15.53 last time I looked at it is going to continue to rise in as the Frameworks roll out for Speed and efficiency in their Network we're going to see proliferation of application $17 extra
00:47:18those that was like this afternoon you're going to see a proliferation of apps and that proliferation raps is going to drive velocity in the market price of things to think about is that there is no additional tokens that have different value of so what we're saying is that there is a opportunity for additional value to be out of the tokens in a market where a large number of these tokens are going to be looking to raise additional funds after they've had a lot of coins beginning in 2019 because
00:48:18I want sheets and books and different perspective I love that comment I think about think about the dollar bill is a block right and then some of the two edges what you have is currency and you know you what you basically the number for insulation value in adult that's what you have put on the crypto you also have additional vectors of that and those bacterias are you know usability feature functionality scalability and then you know the price of gas and other things I mean right now the cost of doing something and they fear in blockchain is still like three bucks but it's still cheaper than Bitcoins. The lightning Network that has rolling out and I've been looking at some of the the the Bitcoin protocol naysayers and
00:49:18what's going to be the new Norm going to really understand this kind of stuff but you know it you looking at your traditional analog television channels year MSNBC or you know CBS or ABC that sort of thing I think they're going to be out loaded bite which chips okay by our friend Mark and eccentric media by podcast and YouTube videos out there because those are the people that are actually doing the research and getting that card information so there's going to be any information gathering shift and I think that's reasonably going to affect Millennials and Gen X or gen Z first clip of some crypto video they thought that was really cool and send the case it's a bunch of their groups and their snap is dead because the Kardashians killed it you know then maybe this Instagram stories or something else
00:50:18portion of the next 6 months or either massive news for a bit of retractions people kind of weight for a more positive sensitive to come out in America again working on your car problems things like this bit license for we had a guy who I think was a consultant who freakin wrote the bitlicense and then quit his job you might hire people get licenses a huge burgeoning community of crypto in in the Wall Street Arena and it doesn't happen in these other areas that. That poses another question in Oz because I've chatted about this quite a little bit we had John McAfee on the show and I asked him and he sort of berated me about look at the
00:51:18do you see any lines or borders on anything from the from a space or whatever it but my thought is is that you know what here we are in America and now the general consensus is if you're doing a blockchain project then you should probably not started in America because of the regulations in the uncertainty of how it's all set up and it seems to me that more and more Innovations and I especially like we talked over a hundred different ico's Rico Spotlight episode you know the majority of them are not in the United States some of them are based in United States but they've moved there I see our they move their project overseas somewhere in so I'm seeing a lot of the Innovation kind of weaving America and going the other countries what what's it what are your thoughts on that one person per view in this is that if you're going to start a nice young United States that you use the standard corporate shell structure that is recommended and I'm happy to talk someone offline about that but I'm not going to be giving legal advice here
00:52:16yeah but usually standard extraterritorial corporate shell from one of the many many places that you can go to ranging from the Isle of Man 2 came into so on and so forth and that is a good way for you to securitize yourself not just from the Crypt OS perspective but also because they are a commodity so to speak there's a 40% tax implication the big things think about starting on I don't know and I think you knowing that knowing the way the president Trump likes to move things and knowing the way that that's some of the folks in this Administration are and you know
00:53:06new car that he wants for the first time since the Nixon era we've got to move towards diplomacy we're not saying okay we got the end of a seven-year War we going to move towards peace and why do I keep talking like him because guess what one of the biggest areas for Krypton the goddamn world is South Korea Korea Pyongyang here in a couple years man I'll be pretty baller
00:53:48dejong Elkins push towards the radical democratization of this these currencies in the hands of people that did not have them and that's going to change a lot of different things you know the same way that you have people get into Bitcoin $0.14 at all these people are you may be able to buy a Bitcoin ATM okay so then what is going to do since going to branch that digital divide there already talked about that kind of stuff and the Have Nots it seems like it's it could get here sooner than later that's one thing that I you know when we had Ronnie moas on the show the first time you know that's one of the things he said the risk of not investing in cryptocurrency now is greater than the risk
00:54:48testing just because you know you have a chance of becoming a have not down the road if you're not in some way dealing in cryptocurrency and I say the same things it's like look I mean we're coming into the area where 5G is right around the corner of the next 24 months and we're going to have fuel 30 gigabit connection to our phones until our refrigerators and everything and you know why we going to want to go to the bank whenever I can send all his money through Stellar lumens and you'll get it in 3 to 3 seconds I mean right now it's venmo but you know venmo is maybe not. And it's definitely not outside of the US and you know fake Facebook email account be connected to your back everything like whenever YouTube got upset at us for video of that we produced in August that we didn't even know it was even a
00:55:47problem they know not only did they ban are immediately ban archana with we had no strikes on it was actually a video where we talked about coinbase and had an ability they literally about a month or month-and-a-half ago they ban dark then they sent us another email that said this videos of this video is a problem then the next video is that was shut down your channel the next video is they shut down all of our Google services so they can in 1 instant you know eliminate every single service that you have if if you have a piece of content out there that they don't like what it what do you think happened you know with with Facebook and a tremendous amount of conservative censorship I mean diamond and silk are two black ladies happen to have a conservative been seen them in our very big supporters of President Trump and you know they have literally been I mean it's like they're harder to find and the contents depression conversations really against to your your conversation earlier about you know what what do we do about these
00:56:47these representatives represent the judges it's it's really time for a cycle change and you're there are more members of Congress that were born in the great generation then there are generation xers synthetic 12 triple years can can can you can you just hold out for for BTC commits to Toshi's place
00:57:25search for is definitely in the air and more people are are getting you know woke as we like to say Oz Sultan there's links to Oz's content is medium his Twitter I'm on the show notes at bad Co. I am 4 / 119 I got one last question for you and that is a some people think that we only need a few crypto kinda reminds me of the guy at the exact right at the end of the world only ever needs two computers in others think that there's going to be in 1 billion different token utilities what do you think I'm tokenizing all the things
00:58:02I think all the things are going to be tokenized and I think later on you're going to have merges tokens which we will call some stupid term like reverse pins or patches the sport and I think it's an emergency back together we should we should do that the easiest way to think about kryptos to think about America in about 1850 in about 1850 there were different Regional Bank so there's still different Regional banks in America but your Illinois Dollar might only be worth half of a New York Dollar in York to Ohio dollars okay so that's where we are
00:58:46we are in a state where you're just having to deal with people who created different vehicles for buying different things and they exchanged different rates and as soon as people start snapping up there and personally think it's going to be women first and then a group of younger men and then you know I have this big talk her into coming over starting with Genex and then started petering out into the Boomers and whatever's left the great generation
00:59:15but you know that that's really was going to grab the change and then I think there's there's also kind of a compliance ass back to this organization in the United States has already helped push bills through in Wyoming is moving towards Nevada and some of these other places and what that is doing this again it's moving to build the standards you're talking a little earlier in the United States to make a fun place to crypto States realize that doing that will really give them a kind of wealth generation and where's the never thought about for Delaware is next on the list Nevada is next on the list you know that's going to happen and then I'm putting something together you never had some conversations with you know a couple of my buddies from hybrid block and a couple of dark pools and you know what we're putting together as a crypto compliance Consortium with a bunch of folks around the globe and if there's any your listeners to talk to Regulators know that's what we're looking to to bring an initially and if there's any of your list
01:00:15we're looking to talk to you about coming in because no we have enough juice in between the bunch of us we just kind of figured why don't we just start talking about standards because if we can do something like that no matter how many cryptos you have you have the ability to create a trading place by which everyone understands that the unit that they've invested in this something that they can either a lot appreciate or they can spend it and that's really the foundation of trust and that's the foundation of money if we can get to that I think we're all in a much better place for the the audience of bad crypto the Republic the citizens of the Republic a bad cryptopia to know about what's going on in the world what's going on in the crypto space any other final thoughts
01:01:02I would say I would say three things don't look up your pencil lead look at them to kind of figure out how all the complex regulations they put in place of a memory gdpr some other stuff is bargain up push-up Gibraltar has pushed the first regularly Exchange in the Republic by itself so I can see if Brock's vision of crypto Puerto Rico with Chanel really we can get all suits Mike Turpin to be really kind of one of the first folks you know Tim Lewis working a lot of folks down there and Scott Walker who are investing in you know rehab
01:02:02what I will say is this from The Burning Man crypto side of the world y'all got to figure out how to go and do like footsteps into other places that you haven't gone into before specific room different cultures people are staring because there's a the pervasiveness of the perception of the cooling system we need to erase that y'all really need to understand crypto is what it is three dimensional money and three-dimensional applications because if you continue down the path that you were going mark my words you will cease to exist
01:02:40he is the Sultan of crypto aselton chaos thanks so much for joining us and we'll have you back here again the future because you got lots to say thank you put me out with my hubby funny Round Table backed up the round table and have our best guess on when Zuko
01:03:00great stuff for mr. Oz Sultan and I'm sure he will be back on the show again in the future in the second time he's been on while we did have him on a live Facebook video before I don't think that actually made it to a show yeah but if you are a member of the Facebook Mastermind group are the bad crypto podcast Mastermind at bad Co. IM Mastermind you get access to those live feeds and videos that other people do not get like our video with Scott Adams and some of those other things that we've had like the John McAfee his mother stuff I mean we probably put that stuff in the Mastermind group so if you're not part of the Mastermind group what's your problem it's free what you waiting for come on in join the conversation over 7,000 strong there but way more than that that are listening to the show and if you don't mind taking a moment to go review us on iTunes or Facebook or wherever that you get to listen I'm in and leave us a review so we can say we know it
01:04:00take the bus of course if you don't like the show then you don't ain't got nobody got time for that so but if you listen this far into the show you probably like the show I'm just saying you know what I'm saying I'm saying you probably like to show if you listen to the whole thing what is the episode with Oz I mean he's got such a unique perspective you know he is an American Muslim and he's working with governments and helping out and trying to solve the terrorism problem we just a really great dude fully understands the crypto space and trying to help make the world a better place you got to love folks like that I do I do love folks like that and we also love folks like you that listen to the show so once again thank you so much for taking time out of your precious day cuz it is I mean you only got one today and today was your today you just about spent it but tomorrow you'll have another today
01:04:49hopefully the day after that and the day after that and the guy at some point but for now while you're alive do your very best to stay bad

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