tv Keiser Report RT February 9, 2019 3:30pm-4:01pm EST
kaiser this is the kaiser report big nose and big coin encrypt the currency continues to dominate global finance and put the u.s. dollar into the graveyard yeah stacie well not just the us dollar of currencies it of course is once the u.s. dollar was on hinged itself from gold that all currencies decided to also back themselves from gold but we're back from such a she round table we will still be asked to toshi round table in the second half when you speak to john and hails from a bit backward but i do want to say the big news that everybody was talking about during this past few days is jack that is jack dorsey he has his twitter handle is simply jack and he tweeted i only have bitcoin yes he's
a big macs less and he was responding to the side in. between twitter as he calls it not crypto twitter pouncing on him because he engaged in the l. and trust chain which is the later network trust chain the torch the lightning torch that went around so he has outed himself as a big macs and less and a lover of lightning network this is interesting because i think it might herald the beginning of what i call the all calling decoupling that bitcoin will start to surge ahead and leave the coins in the dust because we have two pieces of news of come out now jack dorsey from twitter and square clearly putting his eight hundred pound gorilla like weight in social media by bitcoin and when asked about these other coins basically dismissing them and focusing on a big point a lightning network's a lightning labs he's also we've also got news out of. what was
a sponsor of ours for gonzo our road trip coast to coast which also implies a decoupling from all cards yes actually in the next episode because we're not going to have time in this but we will go deeper into that revelation you also had of course you interviewed bill aberdeen he was on a recent episode where he unveiled this and he talked about basically establishing a big point standard but in regards to what happened with jack and what he engaged in and what the significance of it is is this this was a global experiment in trust and the bitcoin community so this is a tweet from big magazine laying out kind of a synopsis of what actually happened what started as an impulsive experiment into munity trust has turned two into a movement so hot even twitter's co-founder jack took part one hundred forty one recent peons and counting the hash tag lightning torch has been to thirty seven
countries across six continents hash tag el and trust chain tag it coined the tweet links to their article about this and they they explain that a lightning network payment has been making global rounds on big queen's secondary layer the payments slowly accumulating in value with each passing is two point eight million suppose she strong which is equivalent ninety six dollars as still going dubbed the lightning torch the payment has changed hands nearly one hundred fifty times across thirty nine countries traditionally participants announce their own ship over twitter to seek out the next three sybian hopeful torchbearers respond to the tweets with lightning network invoice and after choosing a user's trust the current holder as a discretionary amount to the payments turned and says it to the next holder so you know is that experiment and if people would. basically take that lightning network transaction and send it on and not keep it to people did decide to keep it. they
had to restart and the people who had sent it to a person that then ended up stealing it they then started the torch going again with the full amount of bad news for cash and the ripple of course big going cash was brought about as the solution to the perceived inability of big coin to scale that obviously was a nonstarter in the market shows that there is no appetite for pickling cash or bitcoin toshi vision or any of the other hard forks repl of course there is a centralized protocol so it's insecure and this shows you can move money around using big coin just as easily and i would imagine that's going to put to good as well exactly and jack did respond to many many many many dozens of bitcoin twitter as he calls it again most people who call it has take c.t.e. or crypto twitter he could he has read it because twitter. the big scene article
goes on to say the phenomenon is an exercise in restraint trust and altruism that person a five big complicated relationship between trusted and trust lists operations and parties in this way it is fitting their remarkable origin of the negative is equally as unconventional as its carry through and all arose from the curiosity and educationally incentivised agency of an anonymous twitter personality masquerading as an astronaut a cool feline twitter handles hodell not well remember the text and that's what these lighting network twitter messages are is speech and speech is free and free speech is protected under the us constitution so it would be against bitcoin is to be against the us constitution is unconstitutional to protest and be against because they're nouriel roubini paul krugman and those guys. are anti
american well beyond america max because in fact though the us constitution enshrines our rights they they don't grant us rice they just note our inalienable rights all humans are in doubt at birth with these inalienable rights whether they be in venezuela or saudi arabia or america and that is what bitcoin is establishing is a return to national law that all whether you are born in saudi arabia or qatar or egypt or venezuela or america or anywhere in europe with the framers. made note about when they created the constitution that was a reference to natural law yes getting back to the top of the show the big loser will be the us dollar the biggest of the biggest of the nonfunctioning terms of these it is filled with censorship increasingly so i want to say about your text is free speech text to speech and that is of course how this entire
sector of cryptocurrency started how big was founded was in the battles of the cypherpunks with p.g.p. and guaranteeing cryptography was part of speech so that's how they got those p.g.p. the code out in the first place by publishing as a book and sending it to europe but here is my twitter my my lightning invoice that i sent out as part of this and that's what it looks like it's a bunch of text it's text then checks are speech and we're protected in the u.s. and around the world i think the u.s. we do have it codified so that you can go to court and challenge the government if they try to suppress your free speech many nations like the u.k. do not have a constitution do not have their free speech guaranteed by the constitution for nevertheless they are born with the divine right just as the queen is born with divine rights so they do have in. all right to free speech but why lightning what's
what's the excitement about lightning what's the excitement about the second layer you mentioned cash and one of the things about the block size war that you know the media didn't cover that extensively and this was the end of big queen was going to hard fork and then there was user activated sol fork and all that changed and then well here is the speeds of transactions now being you know noted and witnessed on the lightning network this is a tweet from not grew balls in forty seconds ten thousand lightning network payments can be processed and the same amount of time only two point six chip and pin payments can be processed well on a boat somewhere heading to caracas john mcafee and roger vera of trying to escape the scene of the crime there. are incorrect well they were wrong you know it's ok to be wrong people experiment this is a new technology it's
a new experimental technology because in itself. arose out of several failures before it several attempts at creating what is became bitcoin so people try they you know roger vero and the big cashers thought this sort of speed cannot be achieved on a second layer and they were unwilling to wait for a second layer and they thought they could do it on the main layer which is the queen which is the first layer the base layer that is the equivalent of gold and our fi at global system right now the financial system that we have whether or not governments acknowledge it gold still does underlie our entire global fiat's system it's always there sitting there and nourish and if you think we aren't then you would see central banks giving up their goals rather than accumulating gold don't want to sound like i'm gloating. but i did know with some early alex jones. as attacking joe rogan because he had jack dorsey talking about the
inevitability of bitcoin and the demise of the us dollar. is worth noting that i was on alex jones show and because i was one dollar begging him to get involved had he done so on the scale that we were talking about he would be sitting on a billion dollars and you know would have been a nice place to be but he did not embrace at the time that i spoke with him and now he's fighting a rear guard action which is a losing action well conspiracy theorists always trap themselves into a corner just like rachel maddow is doing now it has to go crazy increase in crazy air so that's where he is now but where in the real world without conspiracy and in fact jackson palmer brings that up in this next tweet because there is a conspiracy of round jack dorsey and d. platforming he has of course the platform to alex jones so it's really odd he notes observant cryptocurrency people flip flop between hating on jack for censoring free
speech and he does that in a serial killer sort of conspiracy theorist attacks and challenge him and praise if he mentions big coin but i want to use this as a moment to highlight the fact that big queen by its nature is censorship resistance jack as head of a company a publicly traded company called twitter is he is not resistant to censorship because he is one man in charge of a. you know essential eyes database which is twitter so that's why people can appeal to him the state department the cia the n.s.a. whoever it is that contacts them and says take that person down he has to abide by those laws because it's. subject to man made laws because it is natural laws which are in the alien a bill of rights so he can you know he could talk about big question freely because we all can because it's an inalienable right. so nobody can censor basically and
certainly not jack it doesn't matter if he joins the gang it doesn't matter how whether or not he's a billionaire just as we found out with roger very he can't alter the code he without consensus here a big shout out to elizabeth stark over there a lightning labs because i think she's really been in touch with jack dorsey and brainwashed to speed on big coin and lightning networks and it has an effect on people's minds you know jack dorsey seems to have seen the light and so he seems to be maybe taking the company in a new direction and that's the effect of the magic of the protocol he is an investor in lightning labs of which elizabeth stark is c.e.o. so he's now beginning to talk but he's been an investor for over a year you know just doing teaches you learn by doing those take a break when we come back to hot new company we discovered it's a totally round table this year don't go away.
he's. simply a demon. sat still observed and miles from absolute. depends on both with meter with that statement with. a last impact the counselor's a placenta i went up at a saw me today. i was the sort of my limit was that me or the here now with jeremy has a hunk of those ads. now at the five. because hell i've known him for that matter i see let him make the point you have made or the only marriage
will have one thing close i gave up because of me as you said when i looked at. what politicians do. put themselves on the line. to get accepted or rejected. so when you want to express interest. some want to. have to be right to be close it's like the for reasonable people. interested always in the lives of our. special.
welcome back to the kaiser report imax keyser time now to turn to jonathan hales he's the creator of the fantastically correct and needed service bit back or i jonathan welcome i'm excited to be here so this is patriot but using crypto and this is as i mentioned desperately needed at the moment tell us a little bit about it yeah it's pretty straightforward it's a basic web service but instead of dollars we take cryptocurrency cash like coin and some more cash and you know it's coming to pray for true this time with the patron exodus right let's talk about the patron exodus first second i see jordan peterson and others are leaving patron and what happened over there and are they migrating to platforms like yours so well the story is i think it all started with dawn of a cod and he says some pretty innocuous things if you read about it. and. kicked
him off which led to a kind of a flood of other creators and also subscribers also as a whole lot it was kind of community load leaving the platform and i think the first attempt was a place called subscribe star which i'm not exactly sure what the current state is but it's kind of an alternative picture on but us dollar based and as soon as they got there i think within a day or two their parent processor also cut them off and so you kind of had this double attack against content creators both the service and the payment processor and so excited to see that you kind of backed into a corner here and in order to kind of really offer free speech alternative if you really wanted to you'd have to really deal with a payment processor thing and that's where because crypto currency comes on right the phrase censorship resistance comes to mind right that's part of the charm of bitcoin it's one of the attributes that make it what it is. it is carried over to the actual realm of free speech you know these are folks that are not interested in
crypto percent but they want to exercise their free speech and they meant processors decide what is their speech rights or rights to free speech which is anti-constitutional so now we have crypto currency which guarantees censorship resistance in financial endeavors down we find that in speech and journalism and. bit backward which is the company you've created you've also made a decision to be i guess mostly located or located in wyoming is that correct yes tell us about what that's what's going on there another big story to be honest it just comes on the recommendation of keep going along and she just really made a really strong case that wyoming is going to be the most frequent friendly regulatory regime in the united states and a lot of good people who rates are just said let's go for it right there's a groundswell of interest down wyoming they're trying to become the go to state for
cryptocurrency still incorporate there are a couple of states in the in the united states that benefit from being friendly to corporations like delaware for example and now we've got wyoming make you know putting their flag in the ground you know delaware was the original idea was a call that i've always been told delaware is where you incorporate and when i start looking around it was like no no if you're a block chain you go to wyoming now this is the new correct answer so to say wow it's amazing so you think that we may see oil main become crypto switzerland the huge attractive destination for profit companies maybe i hope so it's seems like you know they're really putting their work and they deserve it now how are you at wrangling cowboys and riding stair and rodeo mills you have many of those i will learn. anything for them for the company i'm enthusiastic great was good here so getting back to back or do. oh and so while it's been up and running it's been
coming up around three months now ok what do you see as early as at this stage what kind of action in d.c. is still very small but we've got a very enthusiastic user base which has been very encouraging. we're trying to kind of on board as many people as possible i think our biggest client pro right now is and i don't mean she's also been a victim of the platforming she's biggest what she thought her biggest personality right personality. she's out of you know shuns and she's kind of this engineer and she had a lot of trouble with patron and vice and there's a whole back story there too but she's been fantastic and. it's actually really nice because you know she's she's very smart she runs an engineering blog or a video platform. but she hadn't really quite been to because it seems like until this kind of issue and she's really the but she really just sort of made the switch right here with a bit doctor and that's really one of the things we'd like to see more is. maybe a bit back there as a way to onboard
a lot of creators who maybe of heard about it have been familiar and are interested but really haven't really seen the exact reason to come over and maybe with this whole d platforming push it could be the not that they need right this could be a whole new wave of adoption because it will be creators and people looking for authors like yeah now and it's you know you mentioned the platforming and other issues of course there is another extreme element to it i mean there is genuine presence of what you would term an hate speech i mean there is a really dangerous. elements out there so how does bit back or deal with that if it all so that's one of the reasons why we don't want to go for everything decentralize everything on the block chain for us or complicate things but also all not just on the technical side but also on the legal type to you kind of get the swamp of just stuff that a lot of people really don't want to see or is just outright illegal. so our policy has been on the free speech side is as long as not legal we take it. but
if it is legal we will take it down. all right so i would imagine that things like pornography a other items would be probably considered legal to some extent but it's hard to say i mean it's the laws there whatever loss of this so you know support of these interesting case so you know certain child pornography is just not going to be allowed. now in terms of pornography it's kind of a difficult issue but one of the ideas we're playing with is to start inventing photos and by default having them be. the only two subscribers and i think this sort of solves certain out of issue if somebody does post some kind of gross or if there is content to the site it doesn't intrude on other patrons. but it still allows them. to you know cater to their customers. so what about
the the majors like. these huge personalities that are building up their patron accounts i mean so we they need to be educated about the virtues of being tempted by other platforms and so what's the message to them how it is you know pitch jordan peterson to come to a bit back or well i love to have him on it would be amazing i've noticed that they've started to play around with the idea of a little bit by posting their addresses and i think that's amazing it was a really open but i would say one further step is in the world you can't just post your pay pal address and expect people to someone who will come but there's a reason why patron exist instead of just pay pal in the world and it's because people want to subscribe they want to content they want the entire ecosystem around donations and likewise in the cryptocurrency world if you're interested that's fantastic and you be the first step with an address but it's really give and
knowledge experience you need to get something back or to answer to the patron right so johnson. what is your background previous to bit back or you know where it would have been dylan so before this i was in question of finance and before that quantitative. trading on the markets or who is a small firm manchester trading right now and you or a quantum yes and you are working out all kinds of algorithmic possibilities and scalping markets and that's up do you feel bad about that. you know this interview when. they're sixty minutes jurors in a hail you or a quad. and other words you have experience in finance oh well what happened when the penny dropped and bitcoin like the light bell went off and you were like wow this is go on what happened so actually i was interested in because even before quarterfinals i got interested in because i want to still in grad school for math
and. so actually i i really think trading is a fantastic kind of nice honest it can be honestly put it out where way of living and so i got very interested that area and i tried to explore with a corner of finance there are a lot of issues of the financial sector don't get me wrong i'm not trying to defend the big anything crazy like that. but you know time passed and i got really just continually drawn back into bickering and trying to create something great banking is a in a situation that's needed on society and that's a fact that we have some bankers have taken it to a place that's unhealthy that doesn't smirch bank such so money is a necessary element of a functioning society as well and now what is some of the what's worse bit better going to be and to raise and money for financing are going to funding you know we have a lot of these we have a lot of start ups on the show and they and are as curious to see what their
funding model is going forward any idea about the social totally bootstrapped. could be interesting to see recently but perhaps he will have to wait until he was talking about the trip to winter to really go off that aggressively the winter going on i guess i don't think so either but you know it's just a general sentiment. yes right it's similar to the dot com crash the funding window was shut for a few years actually and then we come back so in the big coin space in the crypto space there's definitely a liquidity for ventures is is definitely dried up at the moment but those adventures that quality behind them and they can survive they end up to very well the other end like facebook for example kind of came out of the muck the dot com crash one of reasons why it's so exciting to kind of build right now is you kind of want to get in when it's really tough and then after that it's kind of oh you know it's all downhill if you can make it work right now you know we're in this tropical
paradise i'm talking with other crypto folks at the suppose she round table and can and what have you learned here what was some of the highlights aside from the show of course but what are some of the highlights that you've experienced here. it's just incredible slot of really interesting people you know i don't know i don't know if i'm a refresh the question there are many conferences in the space and you know that this particular juncture there's a how are the be different like last year there was a lot of i see there there was a lot of hype you know like that it would be fair to say that we kind of come to another back to a more fundamental place it really feels like that right now i mean the quality of people here is just incredible and just a lot of the stuff they're building sounds really interesting really forward looking and just you're getting not just you know. you don't have the kind of
scary feeling i suppose any more would you have real quality and it's really just for looking on a whole new level of adoption i think it's. interesting right and when you worried about these old legacy economists like nouriel roubini and paul krugman making all these crazy remarks about pickling what goes through your mind here you're in your twenty's thirty's jesus and so when you think about these guys i think that they're very entertaining. you know pamela you don't get a lot of traction you know i mean it's their ridicule or just jokes or yeah yeah i don't need a list of the nails thank so much for being on the kaiser reporting myself for having me all right well that's going to do it for this edition of the kaiser report with may max kaiser and stacey lambert i guess jonathan hails a bit back or i like patriotic but but going frank at us on twitter it's kaiser report until next time by oh.
a in a do you need the whole gone. why. when i think. you know world a big part of the movie. and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bad and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now we're watching closely watching the hawks.