The 1 Bitcoin Show- Charlie Lee returns! Litecoin Summit, banks, ICOs, BTC, Bcash

Hello everyone
ah this is adam meister the bitcoinmeister the disrupt meister
welcome to this very special edition of the one Bitcoin show what's a save a
little Bitcoin today is August the 28th 2018 strong hand long term long term
thinking I'm confiscating one Bitcoin equals one Bitcoin we all believe that
everyone on this show believes that today that one Bitcoin equals one
Bitcoin Charlie Lee is back on the show last time he was on the show was August
the 31st it's almost been a year you can check out that link below you can check
out all sorts of links below I just want to say that this guy I think of him
you know knew everyone associates litecoin with him this is an old-school
Bitcoin dude okay so yeah so one day that he's you know he's a smart dude he
makes up his own coin he didn't know what was gonna happen it was all fun and
games back then he is a hardcore Bitcoin guy so I'm so proud to have him on the
show to be part of this circle of people who are hardcore Bitcoin people and yeah
he's got an altcoin too of course he's gonna talk about that
today but I just wanted to give a little you know intro here because he's been a
big point for so long and he knows it's the rock one Bitcoin equals one Bitcoin
so Charlie welcome to the show man thanks for having me Adam it's alright
yeah man yeah a year but I mean we've you've been super busy and we're gonna
talk about all the things that have changed in the last year but one thing
that I have fascinated by and in terms of litecoin it's something that I have
already talked about on my show a few times I also get word there's gonna be
this litecoin summit and you I have been the crypto currency events and Bitcoin
events and they all got ICO stuff mixed into them and then I've heard about some
be cash event in Asia but otherwise a big altcoin event I mean this is
hop to your type of stuff here this is the San Francisco South San Francisco
conference center which I've spoken at which is a huge place it's got to be a
big event so tell us how this all originated and what is going on at the
litecoin summit insulin since September I guess it has a long time coming right
we haven't had a big or at any like coin conference since the creation of like
coin in 2011 so last year there was all this hype : ah we decided to do a
conference actually a bunch of volunteers came together and started
organizing this conference and the like Khan Foundation supported them and we
kind of just went with it alright so I mean this is you're expecting quite a
few people because it is it's a large location it's September 14th and 15th
for those of you are interested it I do link to it below so I mean who is the is
the light point foundation behind us this again litecoin is decentralized
like do they have a big role in this yeah the light-cone foundation is is is
behind it we're supporting it and we're yeah we're behind it but but you're
right it's it's a decentralized currency just like Bitcoin right there's the
Bitcoin conferences don't all have to be organized by Bitcoin foundation or
anyone yeah so I mean if you want to run a like one conference go ahead but
obviously the like one community is a lot smaller than the Bitcoin community
so so yeah so we haven't had a conference yet so this will be the first
verse of many I hope at the same time it is a lot smaller than the Bitcoin
community but it's clearly a lot larger than all the other altcoin communities
because I mean this is a big big that's what would shock me and like there's
gonna be a light coin Congress I really I really have not heard of another
altcoin having a big conference like this again
the BK and we'll talk about be cash soon they're quite centralized I know they've
had some big giant meetings in Asia and I guess – has you
a little meeting scattered all around the world and you know I got a you know
say what I know about there but otherwise this seems big now you mention
what I mentioned the litecoin foundation real quick for those the people who
don't know what is the light point foundation I think that's an interesting
on it's a micro foundations a nonprofit that we started early last year to focus
on development and adoption of light coin so we raise money from from
donations from sound merchandisers and we put that money towards hiring
developers and holding like in doing this like cycling summit now I know
there are some gonna be some good speakers there gonna be some good people
in attendance now I want to ask you about a sponsor that really uh stuck out
to me there I see it Gemini's one of the platinum sponsors
date am I wrong by saying they don't sell my coin do they Gemini they don't
yet but they they've announced that they have approval to start trading like coin
so my guess is they will soon I don't see why they would support or sponsor
like my summit unless they want to deal with like coin so well that that clears
up a lot for me right there was I was like wait a second they all you know so
yeah but there are big they're a huge sponsor so that is okay that's that's
good to know that clarification one could I'm not making any predictions but
I guess soon enough if there are if they're sponsoring such a conference
they're big fans over there definitely very very interesting now you've got
some well I want to say at an event like this I mean it's gonna be all like coin
talk I assume they're going to know I cos they're correct um look I'm not a
big fan of I SEOs but I mean I see us do exist I'm sure they're gonna be a lot of
ICL's they're just like any other conference company i CEOs can you build small
contracts on litecoin it's similar to Bitcoin right I mean it depends on what
you consider is my contracts so if you consider like multi-sig this is
Lucian's a small contract that yes you can use my contracts but it's not turn
complete like a deer okay and for the reasons but now with that in mind though
so our ask a can is you know our sk is working on smart contracts from bitcoin
are they working on some more contracts on litecoin also yeah and speaking of
that ours k also has someone coming to the like coin summit Tuesday so we'll be
there but listen I read it on your Twitter what's the name again there you
go the person that's gonna be there for our stay Diego this is named mine you
hear me Charlie yeah can you know yeah yeah yeah there was a little bit of it
yeah who is who's going to be representing our SK there at the at the
like one yeah it's gonna be day go get your as Zaldivar okay quite a nice cuz
twitter handle is di egui tio now obviously this is being held straight up
north of Silicon Valley is coinbase gonna have a presence there at all or I
mean they sell litecoin do you know I mean you once work for coinbase so I was
quite base doesn't do they don't really do conferences that much I've talked to
them and they don't do conferences when I was at corn base we barely did any
conferences or go to any conferences so I didn't really expect them to to
sponsor us or you or maybe they might have something will come we'll see yeah
I mean I would assume some random dudes I mean you just go up 101 and you're
gonna be there I would assume some people would be there are eco going back
to so when I when I burn up I CEOs beforehand I just so any anyone can have
a booth there then you're saying sure yeah okay I mean there i ce o–'s aren't
gonna go to you're like on summit to to kind of pitch their i co so i mean a lot
most of the sponsors have something to do with like coin and they're not like
picking their own token now now with speaking of the word
token there's another sponsor and this is gonna lead into another subject
matter token pay they are a sponsor now you I believe it is the the litecoin
foundation it has something to do with token pay in terms of purchasing a bank
can you elaborate on this I'm going to just butcher the whole thing tell us
about token pay tell us about the bank rumor from July also well it's not a
rumor right so we've announced it like a month or so ago that we now have a stake
nine point nine percent stake in a German bank
now when you say we we as in the litecoin foundation there we go
so yeah I kind of want to make that separate right the like Own foundation
it's not some people are saying like like rent bought a bank but like like or
network has nothing to deal with the the bank we as like one foundation we bought
was taking a bank to try to help with like one adoption so so yeah so that's
what we did we a deal with token pay who originally bought the stake in the bank
so now they also have a nine point nine percent stake in the bank and with it we
were hoping to create more crypto solutions via the banking route so
having a bank support crypto solutions and kind of support that forward there
are customers all right before we get back into what token pay is I want to
bring up a wave of the future that I saw from this this financial agreement that
the two groups have here I feel that there will be more and more crypto
related companies foundations whatever you want to say buying banks to make the
Fiat – crypto transition easier and at the same time there going to be more and
more crypto related entities that are going to become so wealthy that they can
purchase banks do you see this as a trend in the future where do you see
banks going in the future in relation to crypto and crypto organizations
purchasing banks is this a new trend you're part of here well I think the
kind of working with the existing financial regulation or a financial
system is really important for a cryptocurrency and I think that's also
one of the reasons why I joined coinbase four years ago because I figured
that we needed to work with the existing financial system and make it easy for
people to get in and out of the of crypto and connect with the fear rails
so extreme your corn based I wouldn't be surprised if corn base buys a bank or
becomes a bank themselves they're kind of that could I mean that wouldn't
surprise me if that happens in the near future right so I mean I don't obviously
don't know anything and I don't have any side information about that but it just
wouldn't surprise me and yeah I think a lot of companies even finance came on
saying they're they're buying a bank or creating a bank or something like that
for so I think more and more cryptic companies are definitely gonna be
working more closely with banks I think it's really important to make
crypto easier for for the mess yeah well you know that's you know you're playing
out the whole string of events here yeah wouldn't shock me if a coin base bought
a bank I mean they're almost banking in a certain way right now everybody
remember pound that frickin like button if you're loving this
spread the word I do a new show here every day disrupt meister calm you can
see all my old shows all right let's go back into token pay what do they have a
nice you what what is token pay exactly there's been confusion on that to token
pay is is just it's another token I did a token sale last year yeah I guess you
can call it a nice show but most people like to use the word tokens and say oh
these days but they basically they the reason why I mean I I don't like I SEOs
in general because a lot of them don't follow through with what they promise
and ninety percent they turn out to be I think like Muslim they're either like
outright scams or they turn out to be scams because they their incentives
aren't correct they get the money upfront and they don't spend it to
actually fulfill whatever they promised they're promised see the people will
purchase token but from my from looking at token paid they've been working hard
on fulfilling their promises and buying a bank
and doing this like merchant services that record and stuff like that with a
bank is what they promised so they're kind of fulfilling that so which is nice
so that's why one of the reasons why I decided to it'll be fine for us to
partner with them well I will say this they're gonna be at the litecoin summit
so if people are in the Bay Area on September 14th or 15th
I guess you can ask them yourselves people if you're curious about these
tocut paid all this stuff that we're talking about it yeah oh yeah yeah if
you're if you're not in the Bay Area you can also fly to San Francisco we
have a chief air is doing a discount for people flying in for the likely summit
you can go to your litecoin summit org and check out the this come and check
out who's speaking I think it's a I'm very excited about it because we have a
lot of like amazing speakers I'm so yeah I love I love how you said I'm very
excited about it and you say it's so calm but you need like Adam Meister out
there saying everyone compare/contrast I think I think everyone's exciting is
different very excitement so but yeah so you know we have a lot of a lot of
amazing speakers I'm happy to to kind of you know that a lot of mostly like
Bitcoin focus people are coming to the like current summit to talk about
bitcoin and litecoin and just tech in general and kind of push this whole
ecosystem board so I'm happy do you see that yeah I'm happy you pointed that out
actually i mean i beginning this should i try to kind of imply that you how many
I mean you're a Bitcoin guy – I mean you are but you have been in this for a long
time and they definitely overlap there's a Bitcoin person had a light coin event
it makes sense now that the whole I see girls come into the light point of it
with that but not that many are gonna be there but I I of course assume they're
gonna be plenty of a Bitcoin related businesses and speakers they're you know
if there's any one speaker you're super duper excited about or you think that
the people here want to hear about or they don't know about yet mention a
couple I mentioned some speakers here um let's
see I mean there's a there's a lot right so elusive Stark CEO of lightning
lightning labs is gonna be speaking so lightning labs as people know are is one
of the big proponents of lightning Network and lightning Network is gonna
be huge for Bitcoin is lightning that we're gonna be on like like going also
or I mean yeah it's already it's already live on like coin it's wrong yeah so I'm
yeah like never exalt is awesome it's it's still like in beta so there's still
some bugs to be ironed out but people are working hard on it and yeah excited
to see progress with that and see atomic swaps over lightning I think that's
gonna happen that's gonna be really being used by everyone
Wow dad I mean that's gonna be turning your light point in the Bitcoin through
it the cross atomic spots yes would you foresee that happening on a
safe basis I guess on a safe basis I mean it's safe now to do it if people
have done a few of those the thing is it's more about easy to do right okay
like I think the the key thing for lightning Network is the final step is
just to make it easy for anyone to use right now it's developers are using it
so it's not easy to install lightning never no it's not easy to to run it to
do payments the open channels but I think the key step is people are working
on making it making the UX better and once the UX is there then anyone can use
it in that's when we really get to the next level
yes way in the crypto space in the Bitcoin space we're we're waiting on a
lot of UX improvements I mean it's that if the lot along with us it's still hard
our mothers can use just about anything that has to do with Bitcoin yet but be
patient people strong hands long-term thinking town that freaking like button
alright some other speakers we said Elizabeth Stark who else is someone that
you're excited about so Gemini is VP of engineering ok Eric
Wagner will be there speaking let's see Derek
but we'll be there CEO of token pay so he'll probably give an update on the
bank deal and what's going on there as we as I mentioned before Diego will be
there talking about RSK and RS key on my coin let's see well
bill bar I will be their CEO of Abra Adam Draper yeah this is good yeah yeah
this is a diaper all sorts of crypto people be on way beyond light point here
so this is yeah this is this is gonna be a fun time indeed and you gave those
logistical things yeah you can fly into you there's cheap air wow I didn't know
about all that well let's let's move on a little bit we'll talk some more uh
before we move on are you gonna come now I appreciate that the people putting
this on didn't put it on Rosh Hashanah and they didn't put it on Yom Kippur
they put it in between the two and as everyone knows out here I'm gonna be
back in Baltimore for the High Holidays but I can't just leave Baltimore and the
Joe ever after Rosh Hashanah then come back right before young kids it's very
hectic I mean it's so unless you get me a plane
ticket and arrange the logistics it's pretty hard for me logistically being an
East Coast Jewish guy who has to be there for Russia on Yom Kippur but again
I appreciate it you know that you didn't have there's so many events they have on
Yom Kippur and they have in Russian and then although oh the Jewish crypto
people can't come and apparently there are a lot of Jewish people like crypto
from what I've seen but I would I would love to be there and I love the South
San Francisco conference center and you never know maybe someone will look me up
here if you want to pay man I would look I would love to be there it is it's a
beautiful location of I know some Airbnb is nearby people can stay it for cheap
too you can walk there if someone wants to contact me about that but we just
announced there about like a dozen there so you two stories that's gonna be there
so you're missing out oh god Missy I got it's hard to get you know with a little
time period like that from Baltimore to San Francisco to Baltimore again
they asked for Yom Kippur anyway but I encourage everyone I would love to be
there definitely and the South San Francisco conference center is awesome
it's a good it's a good venue big venue are you gonna have um when the event
that I was that there in January there was the big room and then there was a
small room which was actually for I cos you're gonna have to different route to
different speakers going at the same time or is it just gonna be one main
speaker the whole time it's gonna be one main speakers we didn't have booths
there obviously um but yeah some of the stuff is still up in there and I'm not
down to the kind of the many great detail level those of this conference
okay we have a lot of people handling that which is great well again if anyone
ever has any doubts that litecoin is a top-tier altcoin i mean i always discuss
on the show what makes an altcoin a top-tier it was i don't most of all
cause I don't give a darn about at all but they're gonna be ones that survives
it or that are top tier ones that are you know on gem and I own coinbase
that's something to make some top tier but also when you can get a community
together to have a big event like this in the belly of the beast San Francisco
I mean you're doing pretty well for yourself you're definitely uh got got a
big phone here and I know I want to point something out here there gonna be
some people that are good it's so funny how social media works because I had I'm
saying the word litecoin people are gonna say Adam you said to buy like coin
you love you must hold so much like oh my god the things of people are the
assumptions that people make but the nitpickers out there you know how do you
as I said in the last year so many things have changed and for the better
but you could just become a tremendous name
way beyond cryptocurrency if you know mainstream media how do you deal with
all the nitpickers now you really you take a lot from the social media crowd
how have you dealt with it or have you changed at all yeah I don't know if you
know there's something we have I've stopped responding to most of the trolls
on Twitter recently it's just gotten so much I've got so much hate from people
that it's just not worth it yeah I think it's probably for the best
so been kind of yeah you know what because the trolls do they just want you
to waste your time you're motion and there they want to slow you
they I don't know what they want to do half the time there's some people that
are just sociopaths out there well I mean you can't you can't fall a
lot of these people I mean the the price has dropped like quite a bit since
December of last year so I mean it's people are people have really invested
more than it getting for to lose and they're really hurting so I mean I can
see why they would hate on hit on me or hate on people who like others right so
it's kind of par for the course you know they're valuing their wealth and Fiat
though I mean again in terms of Bitcoin litecoin has gone down in value also but
again if you guys got into life going together any of these crypto currencies
that are these truly decentralized which are few you're betting for you're
thinking long term here you don't fight a lot more than you can choose I mean
what you said mean some people start buying litecoin old credit cards I mean
it is personal responsibility I mean they they're scapegoating you but I mean
if you bought like coin on a credit card and that's people just don't go too
crazy where that that's something that's happened to last year – yeah we've gone
through some irrational exuberance it's been unbelievable yeah I mean for people
like you and me and like people who've been in this space for a few years they
kind of understand what they're getting into you're right so you're you're
buying like coin or Bitcoin or cryptocurrencies you kind of are
investing in the future of money right you know in like there's this meme going
on but like an old me where the thing is like in the future you don't sell their
coin right you spend it so you never need itself and that's kind of the
future we're building towards but a lot of these new people got in and think of
Bitcoin litecoin as investments so if you think of that as an investment and
you bought in that like $300 or $200 now it's at sixty then yeah it's a it's a
horrible investment but and that's why there's this like Hato mentality which
is when it's dropping you don't sell you just like wait it out
right as long as you didn't invest more than you can afford to lose just wait it
out it's gonna come back and that's what I believe in that's when most people
believe in it might take a few years and maybe a few months but it's gonna come
back you said some people considered an
investment I'd like to add to that some people consider it a very short-term
investment yeah where they thought they're gonna buy it and they're gonna
sell it the next month or the next week not even taking into Tekken into account
long-term capital gains versus short-term capital gains it and taxes
and stuff like that it's just a wild irrational exuberance that that is ik
that has occurred but but in any way I do I want to move on with what with the
people who have bought it for semi irrational reasons I mean what do you
think about the the theory the coin base theory that there were many people just
buying litecoin because it was the cheapest thing on coin base and now do
you think now that etherium classic is the cheapest thing on corn base will
that make a difference for light coin at all mmm I don't think people bought like
one just because it was the cheapest I think people buy like corn on corn base
specifically I think people buy it in addition to big quick right they're not
just gonna buy like Quinn and not Bitcoin but then the one thing about
Aquinas now is like when is the one that is least confusing there's only one
light coin on Columbus there are two bitcoins into two ATMs I'm like this
great boy dude that cow that like fun that is
that's a good point so maybe if you will buy like one because it's less confusing
that is excellent point I have not thought about that yet well well I think
a lot of people uh they diversify for the sake of diversification well I can't
just buy this Bitcoin I better bet by these other things ii don't know what
the heck they are but I'll buy them all so now what the speaking about other
coins at our own coin base and something that you've been someone else spoken
about I guess on social media is be – I'm gonna talk a little bit about that
and about the bit main situation I mean you're involved you know all sorts of
minors and stuff I mean back in the day this is not that long ago when people
aren't going to remember this at all even it was like a little bit over a
year ago litecoin was the first one to go Segway
and you had some discussions with miners and stuff so you're familiar with miner
you're familiar with bit Maine what do you think is going on with dick name
right now that they were gonna have an IPO are they trying to bail themselves
out stealthily are they holding too much be cash do you think be cash is about to
split into six different pieces give us your take on that whole bit name be cash
ecosystem so but Maine last year they were upset with Bitcoin core and the
reason they gave was because they thought that Bitcoin core developers
were holding back Bitcoin and and potentially they they think that they're
it's hurts their their perform Argent's there is this other theory which is that
they are doing a sakru's mining on Bitcoin and Segway actually breaks that
so ASIC booze means that they are they're making whenever they're paid
like 10-15 percent less in electricity costs which is huge for their revenue or
so if ASIC boost sorry if Segway breaks ASIC boosts their against seg with
that's whether they're trying to block the SEC wit upgrade and that's why
they're supported Bitcoin cash so they kind of also wanted to create a separate
coin so that kind of there's bounds of power where they can control Bitcoin
cash which they kind of have control right now and yeah so I'm not like I
think it was pretty dumb of them to sell all their bitcoins appointing the
Bitcoin cash they basically traded a highly liquid coin that's valuable for
something that has very low liquidity and that is very speculative so now they
have a ton of Bitcoin cash they can't really sell them without crashing the
market so pretty dumb in my opinion so I'm not familiar with like their IPO or
why they're doing yeah I guess they're I mean company successfully enough they
want to go IPO and kind of have a payout for their early employees and the
founders so that's kind of expected okay alright so there's your there's
your be cache thoughts of the day so you know you have no no thoughts on the
future of bit Maine they're a tremendous player in in the cryptocurrency space I
mean this is their valued at all sorts of high levels here I mean it would if
something bad happens to them it could be seen as a bad for the crypto space
yeah I mean it's it's good and bad I guess some people want to see more more
competition in this space so if bit Maine loses a bit of power then there's
more space for other minor mine trenches come come up with new products to
compete so that's kind of good it's sort of bad that someone so
powerful is so invested in Indy cash and want Bitcoin to fail which is kind of
scary but I think Bitcoin is much bigger than bit Maine and if you kind of fight
Bitcoin you're gonna lose so so you you see if be cash keeps on going out
they're saying they're the real Bitcoin you don't see a bright future if do you
do you see them splitting because there is I don't know if you've heard about
this November 15th they might there might be a fork they
were founded as a fork so I mean that the precedent is there
could they fork themselves to oblivion I think it's inevitable actually because
there the idea behind the cash is that if there's any disagreement you four can
find out who wins right so and with so many powerful kind of rich people behind
be cash with Roger and Calvin air and Craig ride and and Jihan will write all
these potentially billionaires four of them fighting for who they what they
think is the real Bitcoin there's bound to be disagreements so I think it's an
edvald I couldn't they're gonna like tear themselves apart okay okay this is
this will be in we're keeping an eye on here trust me I want to I want to move
back to litecoin real quick everyone who's familiar with this
channel knows that I I always talk about the 2020 Bitcoin Haven and then some
people would be like why don't you talk about the 2019 like point having now
part of the reason I do not is lose Charlie as you remember is 2015
lightening the 2015 like coin having it wasn't that big of event not not that
much really happy leading up to it this was back in the doldrums of litecoin
when like all the people in btcd were saying it's dead it's only $2 little did
they know but what do you what do you what do you anticipate here for this uh
this litecoin not having in 2019 do you think that it could be the thing that
wakes the outskirts of the crypto community up to the fact that bitcoin is
about to have having less than a year later were you guys with a light point
foundation be reminding people first of all people should have bought like coin
and Bitcoin because they have having's because the new supply gets cut in half
most people don't even know about that I mean how I just said a million things
here so I'll let you take it away but how many people actually know about the
like when having the own like I would say most people don't I mean most people
who bought bitcoin and litecoin Ric OHS they don't really know about that
underlying technology and why they have value in the first place I think I
actually think that having really won't do much to the price I think the price
is priced in alright so everyone knows about the having is going to happen and
in my effect mining hash frayed my miners might turn off right so it could
cause some miners to turn off because it's not profitable for them I anymore
in an hash of the hash rate the difficulty will adjust and everything
will be back to normal but yeah the supply will have or the the
constant new coins being created will have so that's gonna potentially cause a
upward price pressure because there's less coins dumped on the market
I don't think and potentially because of that people may
buy the coins ahead of the having because they think that that's gonna
cause the price to go up so it could be a self-fulfilling prophecy but you never
know right like you said in 2015 the like coin how mining rewards have and
the price didn't really move much and I think Bitcoin mining has had previously
in the present move much where the price might have moved but it might not be
related to having or might be I think it's in a grand scheme of thing the
having is actually good because it reduces the supplier actually keeps the
supply constant right as empathically increasing towards 84 million litecoins
and turning windham in bitcoins so that's good as a monetary policy but day
to day price movements I'm not sure who have much effect well leading up to last
Bitcoin having there was a moved up in price it didn't move up the price to me
people started hearing about it a thought they weren't gonna be able to
get as much afterwards I mean some of the miners had to they weren't selling
as much so there was there was definitely upward pressure for the
Bitcoin one last time did you how sure are you that it's because I having not
something else what I I'm pretty sure it was I'm pretty ever call it going on I
mean there was more and more talk about in the mainstream every day in the price
it was it was getting more attention Bitcoin was getting more attention
because of the having I almost see it I'm looking in at it what I saw back in
2016 as like as a marketing thing that they having was a mark was marketing
Bitcoin and thus created a desire for more people to buy Bitcoin at the same
time people I think tone Bayes explained it that since miners weren't going to be
able to produce as much Bitcoin after the having they started hoarding if they
weren't selling as much so not as much was going on the market so there was
less supply more demand and the price was going up I mean what we'll see again
I I think again what we can agree on here is that hardly anyone who's
involved in the space even knows what I having is so when it gets revealed again
the mainstream media starts talking about it in 2020 in terms of Bitcoin
it's going to be a marketing type of event people let their gonna get
confusing I think the supply is gonna get cut in half not the new supply so
people are gonna try to buy any we shall see but it is III do I do like your take
on this on the on the light point having that maybe it's not the biggest deal
some time so well thought more when we get there exactly there's plenty of to
and again I I do wonder now that light point is more of is known like back in
again a year ago not CNBC you no one was talking about light corn or anything
like this now we've entered a realm where the the mainstream financial
entities that talk about crypto do you talk about like coin now also not just
Bitcoin they also talk about horrible things like ripple and stuff but still
so I wonder if they will they will wake up to the light coin having and start
talking about it and thus that will start the hype for the Bitcoin having I
yeah that's why I've been again we've got some time here be long-term thinkers
people oh yes I can I can imagine DK Kelly CNBC audience all about having
in how it works oh yeah I can imagine doing the same and
then saying by ripple or so I met all he came home I shifted by metal I don't
know what metal not not like physical metal there was something called metal I
don't want to get in actually we're going to talk about some other all coins
in in a second one specifically but I did I want to read something that
someone set mean I don't know how true this is
but here I've been told that there has been a drop of code commits in litecoin
the developmental litecoin has been very slow in terms of code changes is this
true or what's what's going on with that it's not true so it's it's basically
fudge that people came up with so they looked at our master branch I'm not sure
how familiar you are of coding so there's not at all but we explained T
it's little bit but so the audience all understands yeah so there's there's a
master branch which is like the main branch we work off of a side branch
like for our 0.16 release by 16 release we work off with a branch called 0.16
and so there's code updates there and we recently at actually this month release
a release candidate for 0.16 so I've been working on that and when that is
actually finally release we'll merge all the code from there back into the master
branch and the reason why we do this is because we don't want to kind of litter
the master branch with code that is half complete right people who are compiling
the force from source we take the master branch compile it and run the code so
you don't want that code to be half broken right the one we're developing
the code could potentially be half broken so I mean I think this is just
good coding practice to not develop on the master branch
I guess most other projects do develop on the master branch and that's why if
you just look at a master branch you will see like we haven't done any
commits since April because we've been working on a different branch yeah so
it's it's it's pretty fun and I like this your your best practices you're
taking it slow being careful is being translated by
some into something bad it's a it being turned into thought it's it's similar to
have people fought the Lightning Network you know it's you know people that stick
with basics that stick with doing things the safe way people old nitpick at it
and say no no that's that's failure it's not being staged it's bad ok I see yeah
and every time people brought up about this up to me I've explained it to them
but sutter's thought all right it's it's just easy to take that picture should
have commits and say look there's no work being done on litecoin and it's
because yeah because we abandon it but we're actually releasing 0.16 soon we're
keeping very close to you Bitcoin and we're working on 0.17 release candidate
so I mean was if you've been following me and like coin you would actually
notice every weeks every month where I'll be posting like new source code or
new releases of like on client so you'll know that we've been working hard
on it but that said we're also working on other things right it's like Khan
Foundation is working on the core like on Korra we also work on Loaf wallet we
work on like on libraries we work on adoption talking to you more chance I'm
dealing with partnering with people and also doing this like on Summit so we're
doing a lot of work and in terms of like the core like own core code it's just
one of many projects that were working on so guys remember follow Charlie Lee
on Twitter he just made an allusion to it it is linked to below everything I
talked about in this video is linked to below get your t-shirts your treasurer
at my affiliate links all right I I wanted to mention something you just
said anyway uh some your bro here we go Bitcoin let's go let's go back to
Bitcoin for a second something that you mentioned you mentioned some wallet that
you guys are working on what was that you just mentioned Loaf wallet okay
well know what is a is a fork of bread wallet okay we did a play on words so
it's called our Cisco LaFollette for like coin but yeah it's it's one of the
most popular mobile wallets on iOS Android okay so uh you know you pointed
out very strongly there that there's a lot going on what is the most exciting
thing going on in litecoin space now that you guys are working on hmm I mean
we're not working on it directly but one of the most exciting thing is lighting
network obviously I'm very excited about progress being made on line network
which would support both bitcoin and litecoin and eventually Atomics well I
think that's gonna be like kind of critical for moving forward how it's how
they make how big when you like one can work together to make to replace Viette
as as a world currency do you see yourself I mean you're pretty I mean
you're a pretty hardcore BTC guy you for the foreseeable future you see yourself
stick and sticking with it nothing can change you someone asked is is he gonna
stay as a Bitcoin maximalist I wouldn't say
you're a Bitcoin maximalist per se but manure are you are you don't see
anything changing in terms of your portfolio or anything like that get away
from Bitcoin no I think I mean I made a tweet about this like a couple months
ago right if you most people should buy Bitcoin first right so bitcoin is this
is the safest bet it's not going anywhere it's gonna be unlike people and
like be care supporters and like what you hear from because supporters bitcoin
is not gonna die it's not yeah it's gonna be around it's still gonna be the
king of cryptocurrency for the foreseeable future probably in my
lifetime and I'm positioning like coin as a compliment to Bitcoin by working
together with Bitcoin I don't see like coin I'm not like trying to replace
Bitcoin I think I mean even when I first created like coin it's not about
replacing bitcoins but so where two bitcoins go right so that's always my
vision and that's not gonna change yeah definitely a lot of people get into
this face recently they they see they think bitcoin is is kind of old it's not
it can't scale it's it's crap it can't do like whatever a million transaction
per second therefore you can't survive there's all these new technology that
new coins that have that disappeared and bitcoin is gonna take over that's all
it's pretty dumb all right so things they all come with trade-offs that
Bitcoin is kind of focused on digital gold right and it's the most valuable
it's the most sensitive resistant coin it's it has the most security has the
most money behind it it's not going anywhere no III you know I the question
was asked but I know you have conviction behind your philosophy you've stuck with
it you haven't nothing's changed you know although the world has changed in
portfolios of changing with it your your basics have always been there what you
stand for and that's that's why I love you on this show and everything I have a
your brother had a tweet he said that I don't have it
not quoting it directly in 2028 he he didn't think a lot of people would be
able to afford point one BTC point one Bitcoin did you see things going into
that in that direction you agree with your brother that it bit I mean that's a
few having's away them one BTC point one BT so I mean to be fair a lot of people
can't afford plan one BTC today right yeah so I mean $700 is still quite a bit
of money so yeah so like my tweet I did a couple of months ago was saying like
spy 1 BTC because there's not enough BTC for all the millionaire's in the world
to own one right so own one and you'll know that you have something that not
all millionaires can have right and then after that then you can buy some like
coin you can buy all these other coins and and kind of diversify but at least
make sure you hold something that is kind of the most safest yeah it's the
world reserve cryptocurrency yeah and and time has shown right when when a
market crash everything crashes faster because people people switch back to
Bitcoin it's the flight to safety array they're buying back the safe asset which
in cryptocurrency space its Bitcoin yep well again you said start with one
Bitcoin that's the name of this show the one Bitcoin show that's why I encourage
everyone to make their first goal also because you're absolutely right there
have been plenty of millionaires in the future who won't
they'll just be impossible they won't own one Bitcoin there won't be enough of
Bitcoin out there for them to get so you're if you're right now if you're
thinking just get one yeah you'll be in good shape I think it'll be a rarity to
have one in the future there's no doubt about it
you you you alluded to diversification there and I want to get your thoughts on
diversifying in the world of crypto and I'm gonna combine it there's a guy named
Josh you've sent me some super chat Thank You Josh very much for your
questions on a past show that you were on here you you mentioned deep credit so
we're gonna talk about and everybody will go Charlie leave D Krebs a huge
story so that are you still fan of and what do you think about it you know
there's something that people could diversify into a Furyk for example what
do you think about crypto diversification and all these people
saying oh you're my cryptic what do they call out their crypto crypto folio or
whatever their coin folio I think it's ridiculous to tell you that I mean I am
huge Bitcoin and then I have a few other things that people have given me and
stuff but uh and yeah like coin is yeah I got like one on my trailer or two of
course but what do you think about the diversification and out outside of like
Quinn of Bitcoin in terms of diversification and then your thoughts
on deep trade also yeah I think diversification is important right so
what's your certain degree I mean some people have like a 100 all coins and I
just don't understand what the heck they're doing I've also met people like
randomly who told me their portfolio which is like 10 different ICO tokens
they don't hold Bitcoin litecoin or a deer or mineiro they hold like all these
random crap because they think it's gonna go up in value more okay that's
pretty dumb but I would say like diversify a bit like five or so coins
that you think do see things a bit differently obviously I like bitcoin and
litecoin not a huge fan of its theorem but if you're him could be a token that
people like I do like Manero I think when I was doing privacy the right way
not to say Bitcoin like Ron won't have more privacy in the future but at least
yeah I'm one arrow in this one what do you think about it I like it I like it
they can't like my secret I've always liked equate I think that
they have a good team and they're trying to do governance yeah I think they're
approaching it right I like it much better than all these other governments
coins governments coins how important how big are these governors coins can't
even be now it seem to be a trend about a year ago now we
we're moving back to our privacy again we're gonna talk about privacy in a
second the thing about all these other governance coins is they it seems like
they have their very centralized which is is token they're very like trying to
create a government's on chain governments coin but then the whole the
whole team is so centralized and if there's anything goes wrong with the
team that crashes the price of a coin it's kind of this ironic yeah all right
so let's another obviously you mentioned manera you think they do privacy right
how you know we've heard about lightning Network on top of Bitcoin is going to
make transactions more I've heard it might add to some privacy here where do
you see bitcoin and litecoin going in the privacy direction and what do you
think about privacy all coins in general I mean you'd give an opinion on an error
there will will will they really need to be privacy all coins if Bitcoin gets it
right well first of all most privacy all coins don't really deal privacy
correctly so they're kind of just marketing over technology you probably
know which ones I'm talking buy so yeah so the ones that do I I wouldn't I would
name two coins that really do privacy well which is Manero and Z cash whereas
e cash has I would say better privacy but it's new technology so it's it's
less tested well tested then like when there was rain signatures but the
problem with Z cash is for one there's this founder founders reward which is
crap for a decent drugs currency the other is that they don't do privacy all
the time so there's some transactions that are not private somewhere private
and because of that it really destroys the privacy when you can actually link
non private transaction with private transactions so I like the fact that
Manero does everything private but they're they're trade-offs rate with
manaro because everything's private
transactions are a lot larger nodes have to keep track of all the
outputs right all that and spent transaction outputs ETA excels and that
it doesn't scale as well so in terms of like bitcoin and litecoin I think
privacy is very important in terms of good sound money privacy also not a way
you think about is fungibility yeah if I get like a $20 bill I shouldn't be able
to tell the difference between two $20 bills and I should be able to use any
twenty of all the dollar bills I have without worrying that there's some drug
powder on one and it could be potentially getting me in trouble but
even if you're not doing anything illegal financial privacy is important
if you get paid your salary in Bitcoin you don't want to have to buy up a cup
of coffee and then all some the Burson knows how much money you made in these
days if you really use Bitcoin litecoin sometimes you have to think about which
output you want to spend but you have you just bought a bunch of coins for in
exchange deposits your web to your wallet you may not want to send that to
someone because they may know that you bought ten bitcoins or something more
right so this kind of stuff really makes hurts fungibility which i think is
really important for money so I like to see Bitcoin litecoin kind of take
further steps towards more privacy something like confidential transactions
or even better privacy technologies all right now we have a question from the
audience Javier Suarez sent ten dollars in the
super channel thank you Javier now I'm not gonna endorse the first part of your
question here because but but the second part is is I think school he says hi
Charlie thoughts on green coin and nimble Wimble
and well nimble Wimble beyond like point I really like remember when well so
remember when both story is kind of cool right someone just dropped the minimum
linville paper like anonymously out of nowhere and now we have there's a team
working on this grim coin trying to do it the right way
I like it I call it that I think they're they're not out yet they're releasing
maybe next year and it's it's kind of it does privacy a totally different way I
like the way they're approaching it it'll be hard to do member window on
bitcoin and litecoin because I require like kind of redoing
the whole infrastructure definitely be a hard fork so that's gonna become very
contentious you know we'll see where that this technology goes but I'm really
yeah I'm pretty excited about it okay this is interesting because when I hear
the word green coin and iconic out another all coin but you're saying
formidable Wimble to work its best it's gonna need its own coin it's different
enough from bitcoin and litecoin that you can't just solve for active where is
that going to bitcoin and litecoin yeah it changes the whole structure of like
past transactions and blogs so yeah they will have to it will have to be a new
coin at least tested on new coin if if like coin eventually does want to
implement remember one more technologies then it would require a huge a pretty
potentially controversial hard work all right there yeah well Javier that was a
good question dude I didn't know about the grim point yeah I'm learning
something here today this great pound that like fun everybody okay Charlie Lee
well looks like we've gotten toward the end of this show let's quickly go recap
you know your thoughts about the the light point summit the dates it's
happening you know give it a good promo there yeah so liquid summit is september
14 and 15 in South San Francisco I it's gonna be a really cool summit I mean I
wanted to kind of to my own horn but I'm just excited that you see all these
great speakers there and if you want to come meet me and tell me how much I suck
for what I did last year come come to like when some of it I'm
talking about tell me about it but you've done some very solid things
here bad we love yo keep going keep going yeah yeah I think there's gonna be
lots of great stuff coming out of the lake on Sunday
yeah you know obviously they're there you allude to a time where there was lot
of stressful stressful trolls out there all these haters out there now you know
the time has passed and you're going into this really positive event this is
gonna be such a positive for litecoin do you feel like there's a load off your
back now you think are you feeling different than you were a few months ago
and everything when you when you were the biggest scapegoat on earth you know
all these troubles got a skate go they've nothing better but I dare you
feel like a load off your back mmm I will not yet when the price goes back to
to the high I'll feel much better okay yeah last year I mean it's it's been
tough I mean last year when I don't kind of talk about like when most people
would hate on me for not not talking about litecoin and if I did talk about
like when people would hate on me for for pumping the coin for Pat for my own
financial benefit so it's kind of damned if you do damned if you don't so it's
been this way for me for quite a while and I think it's probably in the
foreseeable future to evolve into something different here I think this
this this event it's a very positive thing and you know you said darn if you
do darn if you don't you know when you mention deke red though whoa I gotta
tell you that's everybody loves that big running jokes on here I say the word
deke red all of a sudden too deep oh my god they come out of nowhere they
they really loved you I mean you were like their top aisle for the litecoin
guy was the biggest guy indie cred it was it was quick quite a quite a quiet
time we were living in a year ago all you newbies out there but who knows it's
all cyclical what is what's next any any
any predictions any future positive things you want to bring out there
before I really thank you for giving me the time of day to day to be able to be
on the show it has been great and I see huge bright future here for for
cryptocurrency and Bitcoin this is only the beginning that that's that's that's
the way I conclude things is like we're so early in all of this well we're
definitely very early um last year I remember like early December when I
actually tweeted that yeah when the price is just going up like crazy I
treated that you have to be careful don't invest more than you can afford to
lose cuz they we could easily go into a bear market where the price drops 90%
and then I got all this hate from people saying that time has changed it's we're
no longer in 2013 like the price will keep going up there's ETFs there's
futures as ETS coming we won't see 90% drops ever again but now we're here so I
think we'll see more of these ups and downs on hang on to your rollercoaster I
guess yeah I was about to say the word rollercoaster so yeah there was
whatsoever they actually peppers has some rollercoasters anyway roller
coaster of love that's what crypto is our HR League well thank you very much
everybody remember if you're new here subscribe to the channel like this video
accound that like button we do a new show here every single day of the
weekend this week in Bitcoin is our wrap-up show on Friday so keep on coming
back here thanks again Charlie Lee hopefully you'll be back in less than a
year but if not you'll be back in a year it'll be fun everybody I'm Adam I should
have been quite measure this for my sister Marissa's right like this with
you shows video check out the links section below bye bye everyone have a
great day see ya

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