This week in Bitcoin- 12-22-2017- Wild BTC correction, Bcash pump, Coinbase, Ripple, Strong hand!

Hello everyone this is adam meister the
bitcoinmeister the disrupt meister welcome to this week in bitcoin what a
week it was today is December the 22nd 2017
strong hand oh yeah that's and I know a lot of you
had strong hands I hope no one had a weekend we're gonna discuss this it was
such a big week we were at almost 20 thousands of beginning we almost hit
10,000 yesterday what a wild ride it's predictable though this is Bitcoin every
week is bigger than the next but we needed four men on the panel for real
strong American men to take off this week so we got rocky out there in
California we got Corey out in Colorado we got Daniel and I think you're in New
York now and Shane is in Washington State and I'm just this week I am in
Tucson Arizona but I wanted to introduce everybody to Corey he is like the
behind-the-scenes world crypto Network dude he does the podcast stuff so you're
getting some special insight he's making his debut though here on the panel the
other three guys you're familiar with but he is awesome so since he's the
newbie of the group I'm gonna send the first question over to him and that is
what did you do these last few days what did you think about these last few days
when there were people panicking and screaming about Bitcoin it's the end of
the world the price is dropping did you have a strong hand what do you think is
behind all this in what do you think the future is for Bitcoin thank you welcome
honestly I didn't really even notice much of anything going on this week
because and if you've been in Bitcoin for a while these things come and they
go pumps happened dumps happen and after a
while you don't really even notice anymore this one was kind of significant
but only because the price of Bitcoin had gotten
so high so to pull back to 13 to 15 words been bouncing today you know to me
that's just par for the course and no you know you don't sell Bitcoin ever you
hold it forever that's how it goes so that's pretty much what I did I had a
bunch of people calling me panicking freaking out wondering what's going on
and I'm like what do you mean what's going on and I had to explain to so many
people that this happens and you want this to happen because you want the
pullback you want to be able to take up more Bitcoin at a low price and that's
pretty much it bitcoins gonna continue to do this I'm
really looking forward to $100,000 Bitcoin when the swings are 10 and
20,000 day traders like me will make it pretty penny when that happens while the
rest of the world is freaking out so no it was not a big deal to me whatsoever
yes I'm glad you had a strong hand this week I can't see why people this is
going to be the biggest transfer of wealth like in the history of modern
math people are gonna get really wealthy from holding their Bitcoin why would
someone get rid of that opportunity this week just because of one drop when there
have been four or five similar drops percentage-wise this very year just like
this I mean it's it's as if 80 percent of people out there or newbies know that
they probably are all right so dang what do you think about all this stuff well I
mean at this point I'm pretty just immune to it I'm a hundred percent in
altcoins right now which seems to be uh you know beginning of trend cycles and
you know it's funny it's uh you know I had dinner with um lunch with family
earlier and they're like oh you know but you lost a bunch of money today didn't
ya Anna you know I was like well you know it is down a little bit but it's
not profit or loss until you sell and that's not something you know that I'd
like our other panelists said you it's not something that I plan on doing not
something that's necessary when you consider the Bitcoin bubble I mean what
are we a 600 billion cap total or something like that for all
cryptocurrency based assets and we have a global phenomenon and we have
banking issues and inflation issues across the entire world and then you you
know you compare it to the dot-com bubble which had trillions of dollars in
cap and was a domestic phenomenon it's just unfathomable to at least completely
cash out right now when there's so much potential upside left and it's silly to
be a talk caller or even try to speculate on where this may go because
it really the sky is the limit well thank you for your opinion Daniel
and I want to say to everyone everyone's links are below all these
guys you can learn more about them they're pertinent links are below along
with links to get discounts for your trade or at crypto hwy low calm and the
link to the podcasts that you might be listening to right now the world crypto
network podcasts all sorts of other awesome links so what's going on in
laid-back California rocky where did you did you have a strong hand were people
saying is this the end of the world what do you think about what do you think
about all this well first I'd like to say pound that like button yeah I did have a strong hand I did get
a few phone calls from people a little bit worried you know I had to hold their
hand a bit but you know you have to remind people that when everything's
good everybody talks about buying the dip and
now here's this beautiful dip to pie and everyone seems to forget that buy the
dip thing um this was an opportunity to add to your bitcoins – that's how I saw
this yeah yeah it is a very positive outlook and you know you do have all
these big talkers out there they're like well it's too expensive if it ever drops
I'll buy it well now here's your chance people are you a doer or are you a
talker hey and speaking about I want there's something I forgot to say about
about Daniel there if you're a veteran watcher of this show there was a time
when I said there is a guy out there who's been on this show he is like the
best salesman in the freaking crypto fancy space one of these crypto
dividends should hire the dude especially one of these Chinese ones and
you know they can't speak a word of English very well they should hire a
great salesman and I didn't say who it was well now you know they should hire
you man one of these be diamond if you guys are listening get in touch with it
now I don't know if Daniels gonna want to do something like this but he is he
is where the greatest salesman in the cryptocurrency space people loved you
when you were talking deke rent that one actually had a mama I've actually been
hard somewhere it's enough coming I see oh it's a friend of mine mr.

Ron again
and it's it's different it's I'm really passionate about exercise and health and
it's called jolt and it's going to reward users for exercising essentially
and then we're gonna have partnerships with hardware manufacturers you know to
where when you exercise it will actually block your exercise and that'll be how
you mind the group of currency and you know there will be a whole interactive
ecosystem but you know it's still really in the early phases but it's it's gonna
be really cool and I'm excited about it just because I'm passionate about
fitness and you know being in shape and stuff what did I say people always be
closing he's all I don't know that was gonna
happen I held that like button for unexpected always be closing
ABC okay hi I'm those salesmen shame first of all Shane actually I think he
thinks it's really awesomely cool if people are gonna be able to exercise one
day and make cryptocurrency off of exercising the shade is into that type
of you know just doing everyday things earning cryptocurrency he's that he's a
big dude on steam it and he will talk about that in a second but Shane did you
you have to live in real life man you got a kid a wife you got your jobs or a
change and you're going back to school there were times when you could not have
a strong hand now what did you think about this situation but at the same
time tell us your real life experience about when the pressure comes
when you do sometimes feel the pressure to you know cash out well first of all
what is up Adam it's been a while it's good to see you it's good to be on the
show again huh Shane come on out coming through wait yeah does everybody who
pause there does anyone can you hear me every way I
could hear you I'm not seeing then who paused Shane what okay
well I'm kind of like the others I saw the dip happen it didn't really this is
normal you know I mean I if somebody gets into Bitcoin or cryptocurrency in
general and not expecting volatility if you were surprised by this then you need
to do a little more research probably and look into what all this stuff is
about but yeah in terms of actually living in real life you know I'm not I
do that you know I'm trying my own thing and I have used steam it and I have
actually not bought a Bitcoin since it was under five hundred dollars a few
years ago I've actually earned all of my Bitcoin through doing different kinds of
work for people or mostly through steam it as well so in that case yeah it's
cryptocurrency actually helped me pay for school it helped to support myself
and my family when I was going through school and you know that's kind of the
real world area I know a lot of people want to hold and obviously I want to
hold too but there does come a time where this cryptocurrency rubber meets
the road and it has an actual use case it has a value in the real world and for
me that translated into months of of supporting myself and my family and
getting an education learning how to coach so I'm very appreciative of
cryptocurrency very appreciative Bitcoin and I really look forward to these these
new technologies that are coming out that are using user based or user
generated tokens such as like exercising and mining and cryptocurrency that kind
of stuff is that's where I see the future of cryptocurrency really going in
terms of just alt coins or perhaps sidechain type projects with Bitcoin
acting like the central bank of sorts for crypto
that is the trust value system for everybody else
well-said will say and you know what you you had to use the crypto because you
had to get through school but you are gonna be a much sought after person what
when you've got your whole new skill set going I mean that that type of thing
that you're trying to be that people want me there in much much demand right
Oh totally that's just a major that's the push in the tech industry right now
I mean people who work in blockchain they get paid more on average than other
people I mean it's they're looking for people it's the major hiring area in
technology right now as blockchain technology so anybody who's getting into
coding I really do recommend it not just because it's my own personal passion but
because that's where you're gonna see the most growth for yourself and it's a
super exciting area to be working in yes and ask to be paid a Bitcoin if you yeah
so yeah but seriously Lord learn to code but the it is people they are so they're
sought-after now okay totally and it's yeah you don't have to go to college for
gaming you can learn it on your own you can learn it through how you write there
what's code fellas yeah I learned there you go people this is not about paying
sixty thousand dollars a year to go to University of Arizona down the street
there to party your butt off with the hot supposedly there's some hot ladies
down there I'm gonna go check it out tomorrow
they're all on vacation now but I you know I heard they were like ranked some
of the hottest ladies I mean if you care about those kind of things remember
value your wealth in Bitcoin not in high Arizona University Arizona women but I
am curious to see the scrolling down down sweetie
doing my rough anyway no we don't we want to stay on topic here town that
like bunny if you like when I stay on topic
all right so real quick everybody what do you what its it's 13,000 right now I
don't care about the price that much yeah what do you guys think the price is
going to be at the start of 2018 on New Year's when the when the ball drops
rocky what do you think oh that's a tough one after the past few days here
hmmm I have to say higher I think it's gonna be higher that's a good answer you
have to give specific numbers cool Cory it's gonna be higher but not much I
think there's a lot of confusion in the space right now for new people entering
so you never know what effect that might have on the short-term price but I don't
see anything higher than really 1516 for probably the next month or so
all right Daniel I would agree with Cory that's your name that's a pretty good
perspective in my opinion but you've got people sawing off for Christmas gifts
people showing off for tax season by the way pay your taxes because you were
gonna be in big trouble if you tell them this year they're really coming after
people but yeah it's a it's it's not gonna it's not gonna probably make a new
a th before the end of New Year's and you know what we're what a really good
indication of that to me is you see so many bullish trends starting in altcoins
right now and the last time that happened you know we kind of saw a
sideways or consolidation phase for Bitcoin before it just went absolutely
crazy so in trading there's something new we call a fractal which is kind of a
repetition of a previous pattern that has occurred and that's kind of what I
see going on right now is this sideways consolidation you know altcoins will go
up don't be greedy don't be a bad odor or a community member you want to dump
on everyone at the table when everyone's excited hold of Bitcoin and 2018 should
be a wonderful year for you all right good good prediction for 2018 wonderful
year ahead perhaps all right Shane before you say what you think the price
prediction is you can only show many times didn't you give a light coin price
predict prediction once what was that price prediction you had for litecoin a
long time ago yeah I said $1,000 by the end of the year I was kind of joking I
didn't expect it was gonna get even anywhere as close as it did but yeah
dude that is like basically you predicted it I mean it was like two
three dollars so obviously Shane is the web bot you should all worship Him
Langly and pay him lots and lots of money and call him web bot because he
predicts the future he also says aliens are going to land in
Israel like the web bot does you know he's just as reliable as the web BOTS as
all you people who Bly 80 percenters who follow that so fuck you 80 percenters
follow only listen to Shane for that not for that reason not because he's a real
t because he is a really super smart guy but don't listen to him because that
listen too busy made a crazy prediction and it sorta got right because you know
a thousand is kinda like four hundred there zeros there you know you just got
to interpret the magic 8-balls prediction a certain way alright so
Shane what do you think what do you what do you what do you see for Bitcoin on
New Year's Day is gonna be high or lower any any specific numbers anything um I
see it sticking around about what it is now it could be a little bit higher but
like other people who said there's a lot of new people jumping in on this who
don't know what they're jumping in on they just they hear about it I mean the
amount of people I've heard just in my daily life we were talking about Bitcoin
and not just Bitcoin but all sorts of other altcoins to people who just
wouldn't even know a Bitcoin was a year ago all of a sudden no a light coin is
what ripple is what dogecoin is you know these all of a sudden it's just all out
there and everybody's talking about it so I think you're gonna see a lot of
people who are not prepared for volatility even though they've been
warned for years and years and they can see the trends they were not ready they
bought high and then they're seeing the price go down and they're gonna freak
out which is probably good for the market overall Wow
clearly you are the web bot and people need to pay you fifty dollars for your
newsletter feel that will be filled with complete nonsense and number is that
anyone can interpret you are the web bot pound that like button
ie is really the red box because he's a Washington state with that crazy guy who
says he's the web buyer you're both in Washington State I mean obviously you're
really him aliens took over his body and transferred him to you because that's
the kind of stuff that you get when you believe in the web bot you know aliens
turning in those shape-shifting into Shane and stuff like that no shade is
awesome but the web part yeah you know and if you're a newbie I'm gonna comment
on that second please do it really need more people to call out scammers like
cliff high and their web BOTS because that's Justin risk and me BS and it's so
many people flooding to content like that it's it's really you know it's it's
people love doom stories they love doom stories this channel is not about to
doom baby this is about real life positive and sometimes the real life can
be kind of its it could be scary when the price drops like that okay but no
one can predict it no one has a magic 8-ball if you if you say ambiguous
numbers if you say ate ate ate ate Shore it's gonna it's gonna go by 1888 once
and you'll be right yeah sure so while we're on the opinion well while we're
talking about madness here let's let's bring up be cash because be cash had a
wild pump and king of the trolls was on the TV and everything seemed to go right
for me cash as if it was all coordinated I mean it's just it's just amazing and
how they say but we saw in November we saw in December it will happen again
probably but rocky you've got some app it you've got some thoughts on be cash
here so I'm gonna let you take it because you want to speak about being
cash and people want to hear about be cash so rocky what's going on with P –
well it's not a very good chain in my opinion there's so many things about it
that are bad it's hard to know where to start but let's start with developers
you know they have a handful of developers five or six what a lot of
people call berated developers Bitcoin has a hundred and twenty of the best
developers and then there's a hash rate let me share a screen with you and I can
show you what I'm talking about there we go
so here is a website that's showing the recent hash rate I just refresh your
screen right before we went live this is for dot lol and if you go to the end
here so Bitcoin has fifteen point four to seven
EXA hashes and b cash has 1.6 1 X hashes so that's a big difference of course
hash rate gives the chain a lot of security so then there's nodes nodes are
very important that actually runs the code when you look at Bitcoin it's got
about nine thousand nodes active nodes out there right now and B cache has
1,200 so there's a big difference there and then there's the scaling issue you
know their claim to fame is how fast and cheap they are and that's what they
really have there is a very short-term solution to a long-term problem I had a
whole presentation that I could have given you that went into much more
detail but I'll try to just go through it quick here to get worldwide mass
adoption you're going to need about a hundred thousand transactions per second
if you're gonna compete with the bank's with Visa card MasterCard all these
transactions worldwide you're gonna have to have at least a hundred thousand
transactions per second just to start off with so Bitcoin right now has a 1
Meg block size plus segment which gives it about to if if everybody's using this
sync with transactions and you can't do that now because not all day wallets
habit that option yet but that's all coming so right now with a 1 Meg it's
most blocks are a little bit over 1 Meg right now they're about one point zero
five to one point one most of them but um with about a one Meg block size
you've got about a three transactions per second limit and a node would have
to add if all the blocks are full no would have to add a new one terabyte
hard drive every 19 years so with when segue gets going full speed it's going
to have about a 2 Meg block size with so that's going to give us about 3 Trent 6
transactions per second about 3 extra and you and if all the blocks are near
full you'd have to add a new terabyte hard drive once every nine point five
years now when they when segment really gets going and they add the Schnoor
signatures which kind of compress the signature data it's going to be
three 23.8 meg locks eyes we're just going to give us about twelve
transactions per second and if the blocks are mostly full you'd have to add
a one terabyte hard drive every four point seven five years but that's they
would now what that's you know Bitcoin the way it is now with say quit running
full speed and the sourcing is your update now what we cash did was they
just got rid of say what the best update to Bitcoin since Bitcoin started they
just ripped that out and just gave it an eight make block size which does start
to possibly increase the orphan rate which is bad and that's just going to
add another twelve transactions per second and if these blocks are mostly
full which they're not because nobody's using that chain but if they were you'd
have to add another one terabyte hard drive every two point three seven years
but you're still nowhere near that hundred thousand transaction per second
goal so now if you keep going down my list here I'm going to speed through
this we don't want to go through all this would take too long so now with
these block sides these block sizes here you could see it's going to really start
having a major issue with orphan rate which is really bad you're gonna have to
add a one terabyte hard drive to your node every thirteen point six days when
you get to a 512 megabyte block size but you're still only at 1,500 transactions
per second nowhere near what you need for worldwide adoption so let me go down
a few more here when it starts to get close here um you've got ninety-eight
thousand transactions per second so that's real close to your goal but you
have a 32 gig block size that's going to take one point four hours to download
for a node to download this then that node has to propagate that block to four
or five other nodes so that's about seven hours processing time for a block
that comes in every ten minutes does anyone see a problem here
um and you're gonna have to add a one terabyte hard drive every five hours if
these blocks are anywhere near full so this is just you know it's completely
not do this is no way to scale so let's go fast
it's not sustainable but can't they just fork off and change all this stuff
though I mean is it is that is that what's gonna happen here you mean be
cash working again yeah exactly that could do they can do whatever they want
but with a handful of d-rated developers are you gonna trust your hard-earned
money to score your value on that chain nothing well you know that that's a
great that's your point yeah I mean exactly they're gonna fork it yet but you keep
going keep going yeah yeah they came up with the great idea the EDA right that
was another short-term solution to a long-term problem that really just
created a bunch of inflation and is going to get them to the next having
much sooner than Bitcoin which is going to cause a new host of a bunch of
problems there I could go into much more detail that if you want to but again
time restraints but so here's the summary of what you know to get to the
goal here with be cash just by you know doubling the block size now a seg wit
the thing about seglet is is it fixed the malleability issue which allows you
to do or makes it much easier at least to do the side chains and second layer
solutions and the first side chain we're going to get is called RSK which will
start off giving us about 400 transactions per second and have a 10
second confirmation time and then about a year after it starts its going to
increase that transactions per second at 400 to about 2000 and it also adds
aetherium like contracts and then the first second layer solution would be the
Lightning Network which hat which is able to do about a hundred thousand
transactions per second with instant confirmations
so there's with just those two just the first side chain not all the side chains
that are coming and the first second layer solution not all the second layer
solutions coming with just these two additions to be a coin because of sake
but we're we're beyond the initial goal of worldwide mass adoption with a
cryptocurrency at a hundred thousand transactions per second really more
about a hundred and two thousand transactions per second i but i want to
clarify one thing here say would you believe
right now with let's go into a Bitcoin but you're messing said what people are
complaining about the Bitcoin not the fees that everyone's paying but if
everyone did adopts eggwin we wouldn't have this problem saying
what is the solution to the problem that people are yelling about correct
knocking yes it's a solution but it's not so immediate as just doubling the
block size now doubling the block size like be cash did everyone on that chain
has to update all at once that's what you call a hard fork now segment was a
soft fork it's backwards compatible so not everyone had to update so all the
wallets and stuff that don't support Segway yet those wallets still work if
segment was a hard fork and those wallets didn't update they simply would
not work that's kind of the beauty of a software because you don't have to
comply right away but you know hopefully everyone's going to comply you know very
soon and we'll see the full effects of you know the people have been real quick
the thing that's been frustrating me the most is that the people who've been
getting on CNBC and on TV saying that bitcoin is slow and expensive or the
people who are causing it to be slow and expensive if companies like coinbase
would implement segments we wouldn't have these high fees I wouldn't be
waiting 20 hours on a Bitcoin confirmation so these people are
basically they're lying to you when they're telling you that Bitcoin is slow
and expensive because it's not the solution is in place they're just
refusing to move forward because they're more interested in lining their pockets
with fiat than they are in in helping the Bitcoin ecosystem grow and that's
that's the thing that just kills me kills me yes yes and I could add to that
another thing because when cigarette was implemented it said wouldn't then allows
you to have up to four Meg block size now Roger who's been screaming about
larger blocks for the better part of the past two years right or if not more now
he's been screaming for larger blocks but as soon as cigarette activated he
could have been mining larger blocks and he refused to mine larger blocks for
about four months then he started to sometimes mine larger blocks but you
know he never was very committed to it and just very recently
looks like he stopped mining Bitcoin altogether which is good and but you
know it would have been nice to see the the main person who was for larger
blocks start mining block larger blocks immediately and you know that just
didn't happen because they don't care a blob size they really don't do they I
mean this was about control of the Bitcoin protocol they don't care about
block size they care about making money and they care about hijacking control
from what they perceive as an organization which isn't an organization
the Bitcoin core is a process it's not a group so basically when you listen to
Roger veer and all these guys talk about big blocks they're they're just straight
lying to you the block size debate is not about block size it's about control
and that's what most people seem to have fail to recognize the still at this
point yeah I still think it's about a sick boost if you look quite a few
months I think was the first or second time I was on atom show I did a complete
very thorough presentation on what a sick boost is and how it was affecting
the situation and that's why when segue to X came out that proposal I'm like
this thing's never gonna fly they don't want this it has segments in it and that
breaks their ASIC boost and sure enough before it launched it was canceled by a
handful of people why six people signing a paper that project was cancelled
updates and bug fixes and things don't get implemented or canceled by a handful
of people signing something no it's consensus in Bitcoin you gotta have
consensus to make changes like that but that just shows how centralized that
chain is and you know that that's just a very bad thing and that's another thing
it's not what you do is how you do it and there's a very specific way that
Bitcoin is upgraded and it seems as though people who want a fork Bitcoin or
make these block size changes they just don't want to play by the rules of the
system they just want to create their own rules and that's just not how the
system operates they'll never succeed trying to fork
away or take a course of action that can be perceived by us as hostile well there
they are freedom Oh Oh looks like everyone's live but Adam
yeah I think we lost him daddy's gone everybody behave yourselves
I'm gonna make a comment here in general on these Bitcoin forks I despise these
Bitcoin forks and Adam while I love you to death I really I do not really like
this crypto dividend concept that you've been promoting basically the way I see
it is everyone who's been forking Bitcoin is doing a huge pre mine be cash
is the biggest pre-plan of any coin that's ever been they just photocopied
Bitcoin and said we got 16 million of them these guys pre mine for their own
self gain and then they basically would think you take your crypto dividend and
you sell it that's bribe money they're saying hey forget the fact that we mined
a bunch of coins for ourselves that we really don't care about that we're gonna
dump for Bitcoin here's some crypto dividend for you so you look the other
way I made a big mistake by selling my be cash right away as soon as I could
in hindsight I shouldn't have done that I should have held it forever every
single one of these crypto dividends is gonna die with me because when as soon
as you sell it you're contributing to the circulating supply and you're taking
bribe money so I'll never cash out one of these crypto dividends ever again
because to me it's uh it's not ethical if you support right now here we go
and like clams for instance you know that's a fork of the code right they
didn't fork that sure right so it was an airdrop to existing Bitcoin holders air
drops in general I have another problem with but for other reasons we can talk
about another time but if you come out and call your coin bit coin x or Bitcoin
Y and you create a sort of crypto dividend you're you're why didn't you do
it the right way why didn't you gain community support
why didn't you launch a Genesis block and call it something else and then try
to win on the merits not the name it's kind of guys can you hear me
am i right this is the Arizona you're second I go away Corey starts
talk about crypto dividends Manik even it's free money no complaint we got off
on a side topic there um okay so rocky I was about to ask you um conclusionary
remarks about be cash and then everybody else chiming about be – well um I don't
like be cash very much I sold mine right away I traded in for Bitcoin I'm sorry
Corey but you know I just saw I don't particularly like all these Forks I get
that I think it Fusion to the space I'd much rather be without them but if
you're gonna drop this currency in my lap I'm gonna turn it into a Bitcoin I
mean it's the same thing if you walked into this room just dumped a bunch of
euros in my lap I'd convert that into a Bitcoin or any other currency any time I
want to store value I'm gonna store it in Bitcoin all right now specifically
about being cash does anyone have anything to comment about the be cash
puppets obviously it is very centralized when they can just change so fast when
when someone says well we're gonna we're gonna have a hard fork and they all hard
fork they all follow does that anyone have any opinions on the B cash it's
junk it did look like there were some coordinated efforts out there to pump to
be cash while you know dump the Bitcoin they did it at a particular time
you know after pumping up the difficulty on Bitcoin and then there was a
difficulty change and then trying to pull miners off a Bitcoin to make the
track to make the block times longer and there was definitely a effort to spam
the Bitcoin man poll so yeah it looked like a coordinated attack but that's
okay bitcoins learning how to deal with all
this because it's it's better that Bitcoin works all this stuff out now
before it really does a worldwide mass adopted currency
alright there's always a coordinated spam attack on the mem pool when be cash
pumps coincidence I don't think so yeah there's no way it's not a
coincidence I have a question for you what we're talking big ash now just
appeared on coin base in it it created quite a ruckus and there's a lot of
controversy with coinbase now insider trading they're being acute all sorts of
things what's your experience with coinbase you've got it you've got a coin
based story to tell oh yeah actually you know I've spoken
about this at length on Twitter if any you guys follow me at crypto Messiah but
you know I've actually used coin dates for a long time without issue you know
all my friends use Jim and I and they've been begging me to switch over but you
know I'm uh I'm stubborn so you know I was like you know Columbus has it caused
me any trouble I'll just stay there until I have issues I will you know I've
made several wire transfers to my bank account from selling Bitcoin you know I
sell all the way up and still have warrants so don't hate bills need to be
paid and this is my job but you know I'm a day where I know you know just a
general wire transfer to my bank and it never showed up and I spoke with the
wire department at my bank and they never saw the wire and you know I
requested a wire receipt from coinbase to prove that the wire transfer was
actually you know made from their part because they deducted thousands of
dollars from my coin based account when the wire transfer was made no this was
on November the 27th and after 20 days of having a support ticket up and
requesting a wire receipt and asking where my money was they closed my ticket
and sent me just a generic email that was totally unrelated to the issue I was
having and I've reopened my ticket now so I I don't think coinbase is sketchy I
mean I'm not a conspiracy theorist you know I'm sure they have their ducks in
order but with that being said I mean the the growth this space is seeing
right now is putting a huge load and the infrastructure you know on the
exchanges and you know the chain itself at this point in time and I'm sure I'll
get my money at some point but my user experience at coin based has just been
absolutely atrocious and you know I've been encrypt over for almost five years
now and I've never been treated like that anywhere I am so for now I'd
recommend staying away I mean there's it's not the only option there's better
options I don't think that if you have your money there it's just gonna
disappear I mean that's one of the most regulated Bitcoin exchanges probably and
in the in the United States you know and that's just something and I'm pretty
sure they are probably includes with the government more than any other exchange
in the states but you know just if if you do have issues at coinbase don't
expect them to be resolved any time soon it really has been a nightmare and you
know I needed that money and I don't have it there you go
there's a real life story there everyone pound that like button because I haven't
said that outline in a couple minutes but but seriously uh the there are there
problems at coin base right now they are not implementing segments they're a
bunch of theories involved while they're not why they're not that they've got a
bunch of Bitcoin that they can't access because they stored it in a way where if
they tried to move it the transaction fee would be higher than the value of
the Bitcoin which is it's not a good situation does anyone else have anything
else to say about coinbase real quick anyone anyway I had a couple people try
to I had a couple of people try to buy bitcoins on base with a new account this
week and all of them were shut down put on week-long delays or given a limit of
like 300 bucks so getting Bitcoin for new people is
difficult well I mean do any of you have opinions on how they just well first of
all they didn't give people their be cash right away now all of a sudden
they're sout they're they were selling be cash does anyone think that's odd or
interesting or have an opinion on that Shane you
been smoking for a while anything it seems weird all of a sudden there is a
there's a Bitcoin cache and it was in green and it was top of the charts on
coinbase and I I got a screenshot of it when it shot up to apparently 8,500 and
posted about that on Steam and I was thinking man what the what the hell is
going on here like this this is extremely strange and it's gonna cause a
lot of chaos in the broader market and I mean that's what we're seeing now I'm
thinking that combined with the future stuff has got people really confused
yeah good good point you did and there are a lot of people I do instill Twitter
with all of a sudden Leo B cash is the biggest thing and then a few hours later
they're like oh it's not worth as much as it which is hat I mean a lot of
newbies got confused to say the very least
but apparently clone based is really getting into this all coin thing it
might be a way to help I'm not gonna use the word bailed them out but it
increased revenue and so ripple all of a sudden started the pump on these rumors
that it is the next one that we listed now ripple is like a centralized
cryptocurrency I mean this is going to the dark side here do have you guys
heard anything about ripple being listed on coin B's do you any of you have an
opinion on what coin base is gonna list next time around on it what's the next
one gonna be is it gonna be ripple are people gonna get catch the rumor
beforehand and do some insider trading it's probably going to be rippled and at
a dollar twelve or whatever it is now anybody who buys ripple now is gonna get
wrecked for real that is not going to continue to go up it's about a twenty
five billion dollar market cap or more it's a joke there's no way it's
sustainable and it's gonna pull back just like everything else and that's my
opinion on ripple Daniel do you think that the Koreans can sustain the price
of ripple or will it drop yes I think that price can be sustained and not only
sustained but put it levels that are gonna make people even more
uncomfortable and people are going to get rights but people are going to get
wrapped on real coin you know it's it's just how it
works you know there's nothing wrong with riding the waves but you know the
reality is you know being here at almost five years and and thinking so many
things for the next Bitcoin I mean earth coin was the next Bitcoin
you know and black coin was the next Bitcoin and I mean every dode dogecoin
was the next Bitcoin you know because it was so much more appealable to the
masses you know was the argument um nothing's the next Bitcoin and altcoins
exists to get more Bitcoin generally I mean there are some exceptions I think
the blockchain is a service industry has some exceptions one of my favorites
Artur it's kind of tackling scalability issues that currently applied to
aetherium and you'll see some big tabs emerge from that space risk you know
kind of platforms so to speak but every the reality is you know the Bitcoin can
do or will be able to do just about everything that these altcoins are doing
and if you're all coin feature can be ported to Bitcoin which has a much
larger exposure which has a much better brand recognition which has staying
power which has liquidity why would you expose yourself to an altcoin long term
it doesn't make sense so you know you you generally just want to buy by the
blood you know buy buy people's tears and just hold and you know with these
off coins right now and like we were talking about earlier while Bitcoin
consolidates all you have to do is is wait until you go to coin market cap you
know like in a day like today everything's totally read across the
board you come in and you buy and then you just walk away you know people ask
me how many trades I make a month you know I tell them three maybe four
maybe ten if it's a crazy month but this shouldn't be something that's stressful
if you're doing it right and it's it shouldn't be something that's hard if
you're doing it right um so shoot you know we need to look at
things like ripple um yeah it's it's tougher I can't cuss it's it's garbage I
have been known to use a filthy word or two
it is garbage you know nobody likes it because it stands it's completely
against all the principles of cryptocurrency that we all love right
you centralized control maybe NIT honestly everything about it but but
that being said I mean there is a place for ripple to exist now the real
question is you know while the token may have utility is the token have value as
well and that's something I feel like um you know when dis bubble does burst it's
going to be a harsh reality for a lot of people because you know the block
changes is amazing and all of this technology is amazing but do the tokens
you know can they can exist forever but do they have this absurd value that's
something you know we'll find out I've won that real quick
der Shope just sent five dollars over the super chat and he has a question for
rocky actually can rocky post that presentation somewhere can you can you
post that somewhere I was going to ask you that same question rocky that up for
that presentation that you uh that you went to there for a second I think I did
I think I actually did that on another YouTube channel a few months ago I will
look that up and get that to you and you can put it in the show notes okay so a
bit you it's a it's a PowerPoint presentation isn't it so I mean maybe no
it's not okay I didn't know what I did I did look like okay so it you did it all
on someone else's show we can link to that show basically dad okay listen I
think that all answered to shopes needs because yeah I was interested in
in the entire thing but you know we're limited for time here all right let's uh
we just brought up a random ripple does anyone have a prediction we'll start
with um I don't know Cory you know about a little bit about yeah you know you
know what is gonna be the next all coin flavor of the month Cory what because
that's that's what this is all about I mean I get asked by Pete and by the way
I am not recommending anyone trade in fact I am just buy and hold Bitcoin but
we have other guys on here who do other things so it's a diverse crowd so
they're gonna say things that I don't do that they do but Cory what do you what
do you think is next all corn flavor the month
ridiculous I'll try to I'll try to sum this up quickly as possible in general
I'm a Bitcoin maximalist to the fullest but I completely see that there are
certain functions in the crypto space that Bitcoin just doesn't need to do
like I completely see a need for a platform like aetherium to function
aside from Bitcoin because bitcoins doesn't need to be bogged down with
crypto kitties and junk right so in as far as that goes I see the need for
another platform and as far as that goes it's neo all the way neo as far as
superior a platform to etherium and once China unveils all their plans Neos going
to go 10x easy and besides that the only other category of coin might find really
is deserving of existence are the first layer privacy coins and that's going to
be Manero so if you has to be the only coins anybody should hold is Bitcoin neo
and Manero interesting that okay so who who's got another one to chime in there
Daniel you're you're you're you've mentioned one on something beforehand is
there any other one do you think there's gonna be a ridiculous flavor of the
month one that everyone's gonna jump on the bandwagon on and then just crash or
is that hard to predict yeah I absolutely think so if I had to predict
you know like I said it's going to be you know blockchain it's a service
platform so you know do is one of those my favorite is smarter just because gel
Urata is probably one of the best development teams there is in
cryptocurrency I think they have a lot of integrity they have real business
partnerships they have suppose it an order launches they're gonna have a peg
child chains to US dollar euro which implies Bank partnerships I think the
part I think the platform in the John Chiang concept you know could be really
large that's excellent for scalability and then another category that I don't
think many people are talking about is low fee coins one of my favorite is byte
ball right now and yeah the name is it's garbage it sucks but the chart looks
fantastic I love buying things that look like that there's a lot of upside it's
like point o 3.0 for Bitcoin right now but it's
it's a tangle it's a directed acrylic graph and it's um I love you unique
technologies and I love things that are that are totally different nuts you know
originally when I was in your show and I'm always here for deep red
I still think G grads an amazing coin but I loved it because it was unique a
really solid development and just from a fundamental standpoint I think if you
invest your invest right and really solid development that you can't go
wrong and that's something you know I see with with by ball really cheap
instant transactions or near-instant they're really really low fees
decentralized storage smart contracts I mean it does it all in my specialty at
least is mid-caps you know a hundred million dollar to
maybe we can even say five hundred million dollar capitalizations right now
because I love something that can go to a 1 billion dollar cab because I think
with the way the space is going right now that's an easy thing to do and
that's you know if you can begin a decent bag size and 5 X I it could be
quite lucrative for you so that's kind of my opinion over a blocks right ioad
although I heard it's totally broken but I don't have any personal experience
with it things like that I own a totally broken
be careful paintball be careful by it'll Bitcoin shade are there any ridiculous
all coins you would like to speak about I don't really get too much into all
coins I mean I'll use a coin if I find it useful for some reason people have
paid me for four things in aetherium so I have some aetherium but normally what
I've found well have we talked about steam dollars
talk about what's going on with these ridiculous steam dollars how how its
pumped up so high have you benefited from this insane pump of steam dollars
oh of course I have a fun I had a payout that was that was coming out just before
it happened and I saw you know it it's supposed to be pegged at a dollar right
that's the whole idea is that it's pegged on a one u.s.

Dollar and what did
they get up to almost $14 heat something like that it was ridiculous yeah yeah
along with all the other pumps actually started happening a little sooner than
some of the others I think it was kind of a harbinger of the the big push but
that was something I was not expecting and the steam currency the other one
steam actually not the steam dollars they went up to I mean those quadrupled
in value and within like a week or so so I think I'm not really – I don't I don't
think steam dollars or steam need to have massive gains to be something
that's useful or something that people should look at because that one's based
on a platform where you're actually able to get into crypto without buying
anything you know you can just engage with a network and you can actually get
something out of it so I think that I think that process itself is rather
undervalued and I think once we see more more development in that space which I
think we're gonna see a lot of development coming out of that we have
things like D tube coming out like a replacement for YouTube where people can
post videos and it's related to the steam it blockchain you know their stuff
likes Apple which is like a Twitter for first steam it and with all the
censorship we're seeing going on on things like Twitter and Facebook and
reddit and all the the legacy tech firms I mean you're gonna see a lot of people
looking seriously at things like steam it and zaple and D tube as legitimate
alternatives because they're just gonna get kicked off because they said
something that you know the stockholders of Twitter didn't like so I think I
think that's going to be with that the censorship going on an uptrend and
controversial voices leaving I think you're gonna see things like steam it
and maybe even steam back dollars still there you might see a big boost in that
well I definitely agree with the steam it part people should try out steam it
it doesn't hurt it's free if you got content throw it up there see what you
earn now raakhi is he's not an altcoin guy at all but I have a few want to
mention all coin rocky free it feel free to but I have a different question for
you I'm going to just say that I think these
signs speak for myself you know just my Bitcoin okay just Hottel Bitcoin okay
exactly now but in the times when the crypto
dividends were coming out with the first one when be cash was coming out you were
the most careful person I knew about on the web when it came to splitting your
Bitcoin you take precautions like no other and people should use you as an
example of patience and precaution so have you there's a two-part question
have you split your be gold yet and have you gotten rid of it have you dumped her
beagle but what what is your take on these these ones that are going to come
out like super Bitcoin like like B or super BTC excuse me or B Platinum what
is what is your process here tell everyone the precautions that you take
are you just gonna wait till it's on your treads or which I I say to do of
course and if you can split it on your trans or what do you do wait because you
take you I think you're a guy who splits it but you make sure all your Bitcoin is
moved when you split so so there there's a lot to talk about there it hit it yes
you got to make sure you're doing it safely just in case you do make some
kind of mistake you've gotta move your Bitcoin first it but it also depends on
what process it is to split the coin like what you were talking about where
you have to put your wallet words in a different wallet that is connected to a
different chain I mean do you trust that wallet that it doesn't transmit those
words to you know the creator of that wallet yeah right yeah you don't want to
trust that so you have to move your bitcoins first to a brand-new wallet
with a brand new set of wallet words yes you have to be very careful but yes I
did split my big vault and I converted it to
Bitcoin I did the same thing with B cash I did the same thing with Bitcoin or
what's it called bit core coin yeah and the diamond and all the future ones you
know if I feel I could do it safely I will do the same thing I you know I
don't you know so much hate these other coins like you know
be cash you know because it's it's not just trying to fork it and start a new
project it's trying to take over Bitcoin and attacking big coin in the process so
that that's a completely different situation but you know like I said
before all these Forks I think are a bad idea hmm
just to begin with but if you're going to throw these coins in my lap I will
you know convert them to Bitcoin and and also one
other thing people say that well I I converted my be cast right away and that
went up after that to a much higher value but if you converted your be cash
into Bitcoin and now there's these other Forks you're getting more of those Forks
to so you're getting the forks compounded on Forks so you got a factor
in all these things too but exactly you got you you got more be gold if that was
a beautiful point I brought I think I brought that up I meant to bring it up
before it could continue sorry sir yes you've got to be very careful and I I do
also consultations like you where I do help people split their coins I help
people with their mining operations I've been mining since January 2014 and I
help people set up nodes so um just shoot me an email
exactly guys he is and he takes some real precautions when it comes to this
splitting one final splitting question for you our storage question do you I
have recommended the people who pay at least if they're going to get into this
crypto dividend thing that they should at least own three storage devices is
that too many or is that too little to you do you agree with that number two
three one what's what's what's your recommendation for storage devices for
people well you need at least one Hardware wallet to store your Bitcoin
now if you're going if you're planning on doing these splitting it is you know
to do it safely it is a good idea to have two or maybe even three
I myself have three hardware storage devices and I have right over here off
camera you can't see I have several computers that are completely called
offline that I use to safely split coins so to make sure anybody I'm help
I'm helping to split their coin once they've moved their Bitcoin I can then
split into that other coin extremely you know safely excellent I've got so first
for the panel here I gotta cook I'm gonna ask the three of you this same
question here and you don't have to answer it but some people it's privacy
stuff but Corey how many uh storage devices do you own I have two they're
functional for long-term storage and then I have one that I use for kind of
like bouncing money in and out short-term I try to avoid web wallets
and I avoid things like Exodus Wallet those things are just junk
so trays or ledger that's pretty much it and you got to have at least two or
three Daniel how about you what's your recommendation how many you have Daniel
oh you're here I'm here as Mia knows meted out on the
trays or something one thing I recommend of course some is
using some kind of a crazy random password generator I've been using one
password which is a really good service they you know you have a kind of like a
master password this is just something outrageously long that you think odd
that you write down and it kind of uh creates a really long random passwords
for all your different services and make sure you have different passwords for
everything I know some people use a maybe it's called a key pass or
something like that you know there's definitely some open source ones
available there that don't cost any money
publicly auditable um the jam you know you know I have a Bitcoin for a tracer
for long term Bitcoin old and you know I'll be in altcoin positions and the
ones that I can move off exchange I do and the ones that I can't I leave a
month which is you know it's understand it's a risk of it it's a risk traders
take you know you have that counterparty element where no if the exchange goes
down you do as well it's all factored into risk reward and
that's generally why I stick to it Rex I could see a lot of people going to uh
what's it called finance yeah and it's uh yeah I kind of sketches me
out just because I mean I didn't even go to bits
for a year or two I mean I they hadn't earned my trust and you know in this
space you are Trust is the most valuable thing you can see and you know I see all
these people coming up and everybody's on Finance right now because Finance has
rest links and everybody is clicking these referral links and everybody's
getting on Finance and riding finances cheaper fees also Chinese isn't it
associated with China in some way or maybe maybe not
I think it is that scares me so you know try not to have any coins on exchange if
you can help it keep your Bitcoin in a treasure or
ledger but you know if you have to used to FA use Google Authenticator or
of–they do not use SMS and have an extremely long random password that's
not used anywhere else and uh you know it's you should get act it happens just
know that be careful people all right Shane how about you it had to have a lot
of stores of Isis do you recommend the multiple storage devices what's your
story with storage devices well I don't know what's wrong with the rest of you
guys I just keep everything on coinbase know I've got a I've got to keep key you
know if if I ever get around to it I might get a different one I'm not sure
but that one's I I like it works fine for me but yeah I hope I've just got the
one but yeah I think it's definitely advisable to have a hardware wallet
learn how to use one yeah all right so now we're at the end of the
show here where everyone is gonna tell a story or something that was left out or
promote themselves whatever it's it's it's free time for these four men of
this week in Bitcoin so we will start with the manliest of all the man Rockies
come on man you know what is wait what do you have
to add is there anything that was forgotten any story you need to tell the
floor is yours well I just like to let everyone know that if you're in the
Southern California area you could come to one of my meetups I've been doing
meetups now for 16 months once a month and the next one is going to be January
I know it says question marks there but it is going to be January third I have
the banquet room reserved so on this screen here you can see that I track
every meeting and price of Bitcoin at each meeting and you can get more
information by going to the website here which is BTC meetups web starts com
excellent Southern California baby I got to come visit it's warm and nice there
that's what I like this time of year all right Corey
representing the world crypto network behind the scenes crew I'm glad you're
here in front of scenes today what do you what do you have to add well this
week the one question I've gotten more than anything else is should I continue
to buy Bitcoin even though it's so high or should I start putting money into
things like litecoin and my answer will always be buy Bitcoin all of these alts
eventually I believe you will see collapse back into Bitcoin you'll see a
kind of a bubble within the crypto sphere pop will you have what a600 say a
six hundred million dollar or six hundred billion dollars is that right
it's sound so high a six hundred billion dollar market cap now you're gonna see
this altcoin bubble pop but all that money is gonna flow right back into
Bitcoin so you're not gonna see an overwhelming decline in the
cryptocurrency market cap as a whole but you're gonna see these all coins just
shrivel away to nothing you're gonna see an 85 90 % Bitcoin dominance once again
so if you're dabbling with all coins be smart and know when to get out all right
pound that like bunny everyone check out the links section below follow me on
Twitter at Tech bulb I had forgotten to say that and steam it I am
bitcoinmeister on there speaking of steam it Shane say who you are on steam
it and give us your final thoughts yeah I'm Shane on steam it should be
pretty easy to find just my name sha whiney yeah I got in there pretty pretty
early so pretty happy about that but I actually have a tweet that I'm looking
at by navall I'm not sure if that's how you pronounce it nav al on Twitter who
if you're into cryptocurrency and you're not following this guy you really need
to check them out and follow he says cynicism is easy mimicry is easy
optimistic contrarians are the rarest breed so I mean that's I got into
Bitcoin I mean shortly after the whole mount Cox
thing because I saw the technology and I thought this is going to be something
you know so you really have to be that contrarian voice sometimes against
yourself even and you know don't don't flip out don't panic so usually if you
see like if you look at the charts and you see all the top kryptos they're all
doing the exact same thing to me that's a sign that I need to put my hands up
and just wait a little while alright this nice words by Shane there well
since we are closing we got to go to the guy who is always closing always be
closing Daniel what do you have to add to this by altcoins
it is all seasoned right now it's unprecedented just the absurdity of the
pumps that are coming you have all of this money rushing in and you have
people that have no business making any money
you know they're gonna start making upstart amounts of money they're gonna
tell their friends and their friends are gonna tell their friends and you're just
gonna see this flood of capital and altcoins and you know you're kind of
seeing it right now and you know damn it when John McAfee or McAfee or however
you say it is Twitter pumping all of these coins right now
you know verge burst which I fortunately held when he mentioned it really is
absurd but holding all coins right now you really can't do wrong I mean every
chart you look at is a good chart to buy and it's something that you know a
trader like myself gets excited over and it's also a hedge against Bitcoin losing
value it's a way to keep the USD value our fiat value of your portfolio stable
and I know guys last all season um it made 40 X 100 X on their portfolios and
it's not to say everybody can or will do that you know there is a lot of risk
associated with what I'm talking about but risks do not come you know or
rewards do not come without risk so get in altcoins and people always ask me
what my investment processes and its fundamentals before technicals you know
the fundamentals or you know the the inner workings of what you're buying why
you should buy it and the technicals are you know when you should buy it so find
a good project you know and I'm not gonna tell you what project you should
find find something you identify with that sounds like a really good project
that sounds like it's it's technical and it's not just hype and then buy it
you're not gonna go wrong right now don't be the last guy to sell if you
find yourself getting euphoric and you just can't believe how much money you're
making it's probably time to dump it so just keep that in mind and good luck
dude you just heard some stuff here that you'll never hear on this channel from
my mouth but that is what this week is all about we've got all sorts of people
with all sorts of opinions on here and I know those people in the chat are going
crazy when they hear their favorite I'll coin mentioned because Adam never
mentions their favorite all coin okay before we leave rocky does have one more
thought to add what's up Rocky yeah by holding your Bitcoin you know people
always ask how long should I hold it and you know you always say like you know to
at least twenty twenty twenty you might watch a set to 20 21 sometimes after the
halving it takes a few months to for the price to really kick in but I at the
moment I'm kind of thinking never sell never sell your Bitcoin just keep buying
it amass your fortune and when Bitcoin
really starts to get used at what it was meant to be a worldwide mass adopted
currency just use your Bitcoin never sell it just use it when it's accepted
everywhere mm-hmm very good point I'm playing my hardest never shall never
sell that's I mean I I do preach that end so if you guys can never sell then
yeah you you'll get to a point where it is the so many people will be accepting
it you can buy your house with the 0.01 Bitcoin or but but again you'll have to
pay taxes on it and everything at that point you maybe they'll change the tax
policy that's another reason that whole don't do as long as
maybe the whole tax policy will be changed right now as as daniel said at
the beginning the show if you've been selling Bitcoin you've been trading
Bitcoin you're gonna be paying taxes on April 15th on it okay but maybe in the
year 2028 things will be different and you won't have to do that so have a
strong hand people I hope you enjoyed this week in Bitcoin thank you guests
for appearing on the show remember i'm adam meister the bitcoinmeister the
disrupt meister remember subscribe this channel like this video share this video
do check out the notes section below pound that luck button go like button
we'll be back here next week I post a new show here every day check out the
links section to see the last couple of shows they've been pretty wild so see
everyone bye bye take care

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