This week in Bitcoin- 11-22-2019- How to get a crypto job! Challenging $100trillion stock-to-flow

Hello everyone this is adam meister the
bitcoin meister the disrupt meister welcome to this week in bitcoin today is
November the 22nd 2019 straw hat bitcoin is the next bitcoin in motion oh yeah we
got a guy who’s in motion long term thinking apex predator being a unique
beast oh he’s a unique beast remember this is your home for insider
Bitcoin information and yeah Zack ball is gonna bring you all the information
he’s got a strong hand he knows the big coins on confiscated well hello my elite
friends hello my elite Zack ball welcome back on the show man thanks for having
me it’s it’s been a while almost a year I guess we were saying but it’s good to
be back thanks for having me glad to be here yeah you have been ripping it up on
Twitter all this time he is linked to below by the way guys he may be about
ten months or so since he’s been on the show but I have actually used his tweets
many a time so you guys should be familiar with him at this point but if
not he is linked below follow him always doing a great stuff over in Twitter land
and we’re gonna get into a specific tweet right now why would you well we
started off with a current event here before we really do a deep dive and
let’s read a tweet of yours I love this one
I’m really glad the IRS is investigating compliance issues for Bitcoin ATMs
because that’s definitely a critical regulatory priority for an agency with
limited manpower that barely understands Forks ouch okay so there’s a lot that
we’re gonna talk about the IRS but let’s let’s talk about yeah like why are they
hitting on these Bitcoin ATMs all over the world will they really be able to
stop some Bitcoin ATM in Africa yeah so the tweet was based on a couple
articles I saw floating around one of them from
Bloomberg I think and then it was picked up by coin Telegraph with some comments
from one of the chief criminal investigation officers or something I
remember his name at the IRS and they’re looking at tax compliance issues for
between Bitcoin ATMs and kiosks and apparently this is they’re collaborating
with multiple different branches of law enforcement I don’t know all the details
on this I just saw headlines and scan the article a little bit but obviously
there’s every couple months there’s articles about how Bitcoin ATMs are
growing in the US and around the world 3,000 and 4,000 5,000 6,000 Bitcoin ATMs
around the world live now it just seems like a kind of a bizarre very niche area
for the IRS to focus on in my opinion they may be there is like rampant money
laundering or something going on with Bitcoin ATM use but it just struck me as
a very odd thing for the IRS to focus on given that there is so much for them to
so many other things that they could be working on understanding and issuing
guidance on and even enforcing elsewhere in the Bitcoin and crypto space like for
example understanding how to tax Forks and air-dropped coins and all of that
sort of stuff which as coin Center has written a little bit on recently their
recent guidance which is like the only guidance they’ve given since 2014 or
something was was pretty bad in terms of how they understood or seemed to
understand Forks and air drops and and how they
want them to be taxed and and all of that so it’s just it’s very bizarre but
sure go go after Bitcoin ATMs I guess more power to you yeah there there talk
on me before the air drops the crypto dividends day it didn’t seem like they
know what the heck they’re talking about at all and then
this announcement that they’re going after the big point 88 it’s a nice thing
definitely so I mean in your opinion do they do they know what they’re talking
about there or do a lot I mean they tried to make it out and some of their
press releases Lee know we’ve got experts over here now but some of this
stuff is coming out of there it seems like they’re totally clueless that
they’re really behind yeah it’s it’s hard it’s hard to tell obviously and we
get their signals that it’s it’s kind of a mixed bag like on some things some
areas of tax enforcement they know there’s stuff pretty well probably and
they’re trying to go after high-profile maybe what you might call honey pots of
crypto users like the John Doe subpoena for coinbase a few years ago and that
sort of thing and even they subpoenaed Apple for all user downloads of any sort
of crypto related app or whatnot so they’re they’re not totally sticking
just ABS in the dark but they are still to some extent taking snaps in the dark
like a bunch of letters that were sent around from the IRS that popped up on
Twitter and other social platforms we’re just sort of very vague letters from the
IRS saying we want you to review your tax returns because maybe you didn’t
file them correctly we don’t know so they they don’t know what’s they don’t
know what’s who hasn’t paid their taxes and you has it’s just like I mean I’m
always an advocate like it’s not worth the risk for me I always pay taxes but
at the same time like it if you didn’t pay your taxes I mean I’ve had spent to
say this but like the IRS might just not have the manpower to enforce everyone
enforce like outstanding tax liabilities for everyone who didn’t file and
everyone who didn’t even file correctly let alone people who don’t know if they
filed correctly or not it’s just it’s just still a pretty big mess so I don’t
know if Bitcoin ATMs if I should be like at the top of the IRS is priority list
but you know and whatever I think they’re trying to show you know we’re
everywhere we’re big and you know but you should self-report
you you should be scared you should you sit over at honey pots and I’ve actually
used that before that term when describing this situation coinbase all
the people balked at coinbase and sold at coin base and done it
multiple times that’s a huge honey pot the people at the IRS don’t have to be
too knowledgeable in order to audit those people okay that’s that’s not
that’s not a very skillful thing and coin base is gonna hand them over
everything eventually so I mean if you’re a person who’s me who’s a true
cause yourself a traitor and it’s giving your social security
that these social sharing numbers to these exchanges coinbase whoever yeah
you they they are then you should be concerned about that you should pay your
tax go definitely oh now win it luckily well luckily like the past couple years
as I’ve tried to file taxes it’s gotten substantially easier to do so thanks to
like I mean there’s a whole bunch like token tax or bear tax or like a whole
bunch of different crypto tax programs that allow you just to connect api’s
from whatever exchange you use and they like pay a small fee and they calculate
your tax returns for you it’s super easy so like I mean we all like to be super
libertarian and our kiss but I also don’t wanna I’m not gonna be a hero and
like not pay my taxes and go to jail or whatever so just pay your taxes it’s
it’s easy enough but like you said all the people who are trading on coinbase
and Kraken and Polonius and all these exchanges it’s a it’s almost as big of a
problem maybe even a bigger problem for the exchanges themselves rather than the
customers because the exchanges don’t have any more guidance than we do on how
to handle Forks and distributing Forks and helping their users pay taxes on the
forks that distributed and whatnot like I mean we all remember the Bitcoin captain bass was a huge fiasco
and they listed a couple other Bitcoin Forks – and like the IRS has no clue how
Forks work and these exchanges and taxpayers like us don’t know how to file
properly for it so it’s still a big mess but definitely if you’re trading on
exchanges there’s tools to help you file taxes and you shouldn’t you shouldn’t
try to go to jail if you can avoid itself anyway again if you’ve gone into
back there realm the IRS knows Fiat okay and that’s
that’s the huge honeypot they had there they don’t have to do very much research
to find out who has it who sold their their big point for fiat and who’s and
that’s I’m sure you know there is only a limited amount of people they have I
mean and so you know they make themselves seem huge they’ll get a lot
of people reporting all sorts of stuff and then they can eat they can it won’t
take much talent to go after the people who forgot to report and forgot to
report their fiat earnings I mean it’s it’s it’s pretty obvious if you sign up
for coinbase you signed up to pay your taxes I mean that’s ya know I think you
remember that inter in terms of selling uh for Fiat alright good so we covered
that pound that like button everyone so now let’s talk about which would shall
we talk about here another a big story out in in the realm of Twitter at least
in the in the social media part of cryptocurrency and people ask me about
this stock to flow guy all the time 100 trillion and people it’s like a Dogma
when he says and you know it’s exciting his charts make big predictions and you
know it’s all technical and it’s great it’s beautiful fancy sets and graphics
all the stuff that made everybody drool okay
he’s gotta go and on he predicts people II Adam you gotta have one to show a
link once it’s all out there and I mean people were he’s got a Twitter account
but he’s not I don’t have to be on the show but you had a comment about him on
on Twitter and you said maybe this I don’t wanna put words here
but like me I’m not blowing this guy I’m not putting him on some pencil and
saying it’s gonna it’s correct I’ve always said bitcoins gonna be worth more
in the future after future happens okay hold you know understand what happens
are people if you don’t if you don’t understand what having’s are and bite
your worship this dude your little behind here so what did you what exactly
do saying what do you think about the yeah yeah so I think while you were
talking I just tried to find the tweet so I could remember exactly what I was
saying and I was actually tweeting sort of more at safety than the 100 trillion
USD a guy but safe team was that stalked a flow is meaningless for every other
coin besides Bitcoin he says the real supply of a shake horn any day is
decided by whatever the people behind them put in their algorithms on that day
not their algorithms only Bitcoin supply is controlled by its algorithm because
nobody controls it which okay I get what he’s saying but yeah I just said your
metric I used some colorful language but I said your metric isn’t worthwhile
basically if you cherry pick one how to apply it this is just embarrassing and I
got a lot of negative feedback on that interpretation
I like dr. flow is a useful measure for valuing gold and whatnot and it’s been
applied to a couple other scares assets and people want to apply it to Bitcoin
now to to sort of predict that I don’t remember exact numbers but something not
too hyperbolic in the range of like a hundred thousand dollars per coin by
next year by 2021 or something and sure maybe that will happen and they have a
lot of like you said heat this guy hunter trillion USD has a lot of very
cool data visualizations showing how bitcoins price has tracked very closely
with its doctor flow ratio and all of that so maybe it’ll happen but like my
two combs with it our people like trust it almost religiously as if it’s like a
prophecy that has no choice but to come true and they sort of cherry-pick its
application like sighs Dean did here where
like so if you brought the point of my original tweet was internally this was
when I was working at Masari and we ran stock to flow ratios for a bunch of
other digital assets and Bitcoin stock the flow ratio is like you want sort of
a high high stock to flow ratio there are lows dr. flow ratio if I’m saying
that correctly and a lot of other digital assets had much higher ratios
than Bitcoin did which like I mean theoretically would say that the
you you you you you
you you hey Zack yo we gotta go cut off their
yeah let’s uh you’re talking about that the high stock to flow over yeah yeah
sorry about that yeah so we were running we ran numbers on some other like old
coins and their stock to flow ratios and they’re higher than bitcoins which I
mean I guess it’s sort of what you want to see like the hayasaka flow ratios if
I’m saying that correctly high or low but safe teens here is it only works for
Bitcoin doesn’t work for any other coin and that just seemed a little bit maybe
intellectually lazy in my opinion like well why there’s no real good answer for
that and I would definitely at the very least encourage people not to sort of
use it as such a strong price indicator of like a hundred thousand per coin next
year like some people seem to be doing so it’s a cool like he has a lot of cool
data visualizations this under trillion USD guy he’s smart guy but maybe like I
don’t want to rain on anyone’s parade but maybe a little bit like just rain a
little bit and maybe cool some of the like rabid excitement around stock to
flow so yeah that’s all that’s good you we can’t put we can’t put people on
pedestals it and worship them as kings around here because you’re gonna be
you’re gonna be let down in the long run I think the guy isn’t trying to do
anything bad here I mean it just seems he’s got a cult following it’s become
almost the cult of whatever his name under trillion yes the cult the cult of
us stop the flow and hey man I I hope it happens I hope I hope for the best but
yeah I’m not gonna I’m not gonna worship the dude or anything like that so good
now you brought up that you were at you were at Masari before and you there you
did rode you did that analysis of all sorts of things uh even all coins at
times he ahead of report on all coins or with at least using the names of all
coins in a statistical report and there’s some people and I just this is a
question about big coin maximalism gone too far you’re a dude who loves
Bitcoin I mean you are a bit clinger you work for a company you they you had some
reports that the mentioned some all points of people were offended they were
calling you an S corner I don’t want to say that word but they were all sorts of
things but has it gone too far now or in terms of the social media aspect of
being a Bitcoin maximalist when people are attacking you of all people I
thought was crazy yeah I I i we could spend like three hours talking about
this I have a lot of thoughts I think a couple things really quick I think like
the markets and Twitter and everything is just like kind of kind of quiet like
really quiet lately and I don’t know if you know if you did the Twitter handle
is just skew s ke W and they’re very cool data visualization sort of research
company focus on mostly like derivatives in crypto like that data but they do a
lot of other data and they posted a chart showing how like Bitcoin mentions
on Twitter are just like at all-time lows like it’s it’s scary and people are
just like kind of bored and a little stir-crazy maybe and like you said maybe
it has gone a little too far this sort of like crusade against s coins all
coins coins we don’t like coins that aren’t Bitcoin and like no one’s dumb
like we all know there’s scams all sorts of scams all over the place in this
space but like I’m I consider myself a like a Bitcoin maximalist like I think
Bitcoin is pretty much all I care about in the space like there are a couple
other coins and teams doing things that interest me like I think grynn is
interesting I think most privacy coins are sort of interesting I think block
stack is interesting we’ll see what happens with them I think there’s just
like things that interest me what I like by the ico probably not but I think it’s
interesting but even for saying that some people on Twitter will report you
block you call for your head all of that sort of stuff and it’s just a little bit
outrageous yeah I don’t know so anyway well through
my work with Masari Masari is sort of a crypto agnostic company they work with a
lot of different teams a lot of different tokens they want to sort of be
like a bloomberg of crypto where any data you want on any coin or protocol or
token or whatever can be found on their site and by working with them doing a
lot of very important work good work trying to clean up the data in the
industry and the quality of like news and content reporting in the industry
and that sort of stuff people just got mad but I tend to like as a rule I tend
to think people who get mad on Twitter aren’t really worth paying attention to
because they probably don’t have anything else to do with their lives
like that you probably have to have kind of a pretty sad life if you just spend
your day getting mad at random people on Twitter all day long so I don’t tend to
give it too much to mind but it is it does happen a lot more frequently now
and hopefully it improves but I think as one last thing I’ll say is I think as a
result of all of this we’ve seen a lot of migration towards like social watch
social conversation wise migration towards telegram and discord and signal
where it’s a little more private a little more controlled and less out in
the open like Twitter and mastodons which we use for a few months back then
are just because people can be so toxic for lack of a better word it’s it’s it’s
just over the top well pound that like button people Zak
is telling it like it is I gotta say Twitter for me I use it as a resource I
filter out all the nonsense of screaming you can learn a lot by really certain
people’s feeds every single day I want you okay what’s this q1 again how do you
spell that yeah it’s just their pain and their Twitter handle is ske W just you
it’s very high I think they’re a team of like two or three people I don’t
remember exactly but very high quality yeah your point about people getting
stir-crazy like there see I’m not saying bitcoin is boring now or whatever but
there’s the there seem to be a lot of negative fun stories out there so that
kind of sets the tone there it hasn’t been a pump for a while
whatever so people get it and people need action or just bored people need
action people who are easily bored need action and they they get a little testy
and they start yelling at each other for me it’s always learning so it’s never
bore I’m just use it as a as a learning resource but Twitter overall in the way
beyond bigpoint way beyond cryptocurrencies most people use it as a
way to get out passive-aggressive anger and whatnot so it’s it’s come to air
space also but yeah I’m Zack is is not – he’s not at all pointer although I he
brought up by the member wendel stuff do you think nimble will do incorporated
into Bitcoin at any point oh good question I used to have opinions on this
I haven’t I haven’t thought about it in like a while so I’m hesitant to answer I
think like I think at a very high level a generic answer I’ll give is obviously
we can expect basically or privacy for Bitcoin to improve substantially through
like maybe member wendel integration but especially things like snore and taproot
and all of that and also like services like wasabi and samurai and other things
but with a specific regard to nimble Wimble I’m I’m not sure I haven’t
haven’t read up on recent conversation about that or thought about it in a
little while so I’m not sure but there was a lot there was a lot of which you
might call thud around middle Wimble based on this one article posted a week
ago and there was some fun I guess I’m Manero – but it’ll like it’ll be
interesting to know that the two articles were for mineiro and nimble
Wimble on people claimed to sort of break their security at privacy model
and whatnot but privacy like everyone wants enhanced privacy and that’s sort
of why these protocols focus on it sort of came to be and we’ll see if they can
survive for another five or ten or more years but we can expect more privacy for
Bitcoin and I hope the privacy coins do important work and serve their purpose
because I mean the only exist because people want to speculate on their price
and use them for privacy so whatever happens
I heard the the middle Wimble of Revelation actually has been out there
for some time it’s just someone yeah words I mean kind of made a scary
article about it and I’ll say that well in terms of privacy and Bitcoin becoming
a more private that there have been people that have said that if it’s if
it’s built into the base layer that it would it would scare off the corporate
types and scare off the the financialization types so that that
probably won’t happen you know people be able to opt into the privacy what do you
think of that well could that scare away institutions if it became like a truly
private at the base layer yeah I think I there’s probably a few people who have
written about this but I think Nick Carter may have written one on this sort
of like the coming tension between like institutions who want to use Bitcoin and
sort of like rogue independent users who want to use Bitcoin for like other other
reasons I like I think he’s right that’s inevitable
and I don’t know if like if basically our privacy improvements will Hank will
cripple it will create that tension maybe to the degree people are expecting
just because like Bitcoin base layer will never have very good privacy it
can’t have very good privacy because the supply of Bitcoin is so important to its
value prop and the more private you make it the less able users are to audit the
supply of bitcoin that’s why I’ve seen inflation bugs with Z cash and Manero
and maybe even grin that has tend to say it X I’m not exactly sure but the point
is privacy coins have inflation bugs because people have a difficult time
auditing their supply because the base layer is so private and we don’t want
that with Bitcoin so I don’t think the privacy will ever become that big of a
deal for bitcoins base layer but other like elsewhere in this stack like with
wallets like wasabi or with second layer protocols like lightning those those are
where you’ll find the privacy so institutions if they want maybe can stay
working with the base layer and other users who want privacy you can go to
other other parts of the stack to get it and that’s that’s sort of how the stack
is designed anyway so I think it’ll work out well interesting you bring up
lightning what what’s your take on its its progress and you’re now at block
string 2 so we should I don’t know if what they’re doing over there with
lightning or if you’re anything like that so so expand yeah yeah yeah so I’m
obviously I may be not obviously but I’ve always been a pretty big fan of
lightning pretty bullish on it still early obviously but like network usage
continues to grow I think with narrative block stream specifically obviously
block stream maintains the see lightning instance and our implementation I guess
is the proper term I don’t work with the lightning team here at least now I don’t
think I will much in the future but possibly but all these implementations
of lightning or obviously important for for the protocol in all the different
implementations to grow and mature and whatnot very bullish on it and excited
to continually see cool apps being built for just a couple weeks ago someone
built a completely anonymous like chatroom app where you can pay a couple
thousand SATs and have 24-hour anonymous chatroom hosted on there their lightning
app the guys at Satoshi games have you had them on your show by the way or you
know the Satoshi games guys I’ve heard of them it would be great to have them I
knew about that chat getting by the way that was a great I what was it
yeah I include that in another video I guess I should find it again but no
satoshi games tell us about yeah they’re they’re
building like a fortnight type game with lightning integrations and you can win
SATs on the by playing the game and whatnot they’re based in Latin America I
don’t remember exactly where but I’ve super like a year and a half ago or so
when I was still running a podcast that sort of
got archived but I interviewed them they’re just like super friendly sharp
game developer is building a cool fortnight like game for lightning
they’re on lightning and it’s it’s it’s live now or it’s some people can sign up
for the beta to play it and test it and yeah like definitely definitely
interview them on here they’re they’re a great team and just one of many great
teams working to build with lightning right now so I talked about that that
this satoshi games before you you you pay to play basically you can win
lightning right yeah yeah yeah yep that’s pretty much yeah how it works and
that’s good that’s mean I love that people were experimenting with this
stuff who knows if that chatroom thing is gonna get big kudos if at least
people are playing around with it we don’t know what the killer the killer
feature of litecoin is the killer app of lightning is going to be so keep on yeah
keep on experimenting people that’s that’s what this space is definitely all
about okay any other lightning thoughts before
we move on with the block stream I don’t I don’t think so i think lightning is
yeah laning so so what are you doing at block stream we had Niall on here
telling us what he does he’s marketing over there and everything and locked
room is so legendary in the space because people come up with all these
conspiracies about it here you go here’s a real guy he works for them he’s been
on the show before he’s not part of a new world order or anything like or
whatever that’s going on tell us about how you doing over there and what tell
us it’s funny yeah it’s funny it was like I don’t think it was related but I
posted on Twitter that I I got a new job and I’m working with blocks from now and
then some aetherium fans like started rehashing these old conspiracies like
you mentioned about how bitcoin is co-opted by blog stream and all this
stuff it’s I don’t know it’s nonsense a lot like but blog stream specifically
it’s like it’s honestly a dream job I like some people maybe don’t want to
work in Bitcoin full-time but I think they’re sort of rare like most people
want to work in Bitcoin full-time and it’s there’s a handful of companies that
just sort of are like where you would want to work if you could had your pick
and block stream for me at least is 100 percents one of those companies so I’m
very lucky and I’m having a lot of fun I actually work pretty closely with Neil
like right now I’m just doing a lot of documentation rewriting that sort of
stuff but touching on content with a few different teams and excited to see what
else comes down the pipeline but it’s exciting like you said one of the best
companies in the space and I’m just yeah super lucky so I’m having a lot of fun
already and I plan to continue having a lot more fun in the future this dude is
in motion he had a podcast and then he ends up working for these big big coin
come working in the space how does one end up working in the space any advice
on that to the people that’s death yeah that’s I was gonna post a Twitter thread
about this but I mean I’ll just Alps not post a Twitter and just share it on your
show like I’m I’m a little so like I don’t I’m I’ve been in Bitcoin for a few
years several years I guess but I’m not like like an OG or anything like that
I’m just like a regular guy and I tweet a lot but I just I’m not nothing special
all of that to say there are so many opportunities in the space and I know
this because I’ve I found them like I’ve I found when I was looking for a new job
do something a little bit more fun and more related specifically only to
Bitcoin I like I found a dozen different jobs at least that would have been a lot
of fun with great companies in the space like for example bitwise and and Casa
and coin desk and a couple funds and exchanges and whatnot so to your
question to get involved you honestly just have to DM people or email them or
something and just reach out and ask because no one
gonna like give you a job and come to you you have to just go out and get it
and in Mike’s like it takes a little bit of work but there are like I’m not under
estimate there are so many operatives in Bitcoin and a lot more and just like the
crypto space generally but if you want a job you probably won’t find your ideal
first job in the crypto space on your first try or maybe even your second try
but there are point being there are a lot of jobs so don’t feel discouraged
just like shoot some emails send some DMS and I can almost guarantee you
something will work out because there are so many opportunities all right
dudes that is some insider information that’s why we got the best freaking
guest in the space here you don’t hear stuff like that just DM
the people he is giving you proactive tips right there oh my god I love that I
love what you just said no hardly anyone talks about you how to get a job into
space yeah people don’t come find you you go DM there’s nothing shameful I get
DMS all the time asking me all sorts of things do the same for the people that
work these companies I get any any specific targets you have out there
besides the ones you just just mentioned for people you think might be jobs for
companies that are looking for jobs you have any specific other names out there
and the other IQ I can I can maybe think of a list like after the show I just I
can’t emphasize enough like I’ve I’ve just and some people just like see a CEO
of an exchange I’m not going to name but I we had chatted a little bit on Twitter
publicly and then I emailed her or maybe messenger on telegram and just said hey
would love to chat sometime if there’s a role at your exchange that makes sense
this is my resume for your reference I’d love to maybe work together if there is
something that make sense and we chatted for a while had some great interviews
there and that that’s happened like multiple times for me at least and I
don’t have like a spectacular resume I’ve just had some regular jobs and and
done some research and that sort of thing but don’t be like if you’re shy no
one’s gonna give you a job don’t be shy just send your resume to some people
start conversations talk to people you might want to work for something down
the road will work just just have to go for it a little bit
be hungry in motion people in motion pan that like but one thing I mentioned
actually on my audio only podcast I rarely do those most of these videos
just get turned in the audio but I had people it was linked to a few shows back
i theorize and I’m pretty sure I love your take on this there are many Asian
based companies out there in the space yeah they need english-speaking
marketing type of people I mean III suggested the people just you know hey
go to some of these Asian based companies and just send em say hey I’m a
marketing guy I can do social media for you I can like you know they there’s a
lack of they have a hard time communicating with the western side and
I think they would love to have a and you could work out your own deal with
that maybe do you think that’s possible type of thing out there opportunities
yeah I think yeah I think if you’re when you’re looking for something like in my
personal experience I don’t have a problem saying Masari when I was looking
I want it when I was looking to get involved in Bitcoin I only wanted to do
Bitcoin and so working with Masari at first I didn’t think it would be like my
ideal job or the ideal company wouldn’t work for it because I knew they worked
with a lot of other token projects and whatnot I wasn’t trying to enjoy too
much but little did I know I made an insane amount of great friends and
connections learned a lot was exposed to a lot and it turned out great and I
expect sort of a even better similar experience with my new job now point
being if you’re looking for a job you don’t find exactly what you’re looking
for it’s okay to take maybe a less ideal job because you never know in crypto
specifically because you it’s a very small space and you never know who
you’re going to meet or what opportunities are gonna come across
after you just take something and start working in the space and meeting people
and doing it full-time can’t overstate the importance of that just take a job
everyone’s hiring engineers so if you’re an engineer you can take whatever job
you want pretty much and if you’re not an engineer just take take something and
start working for a crypto company make connections and use it as sort of a
launching pad to something else or stay at your first job encrypt
for 5-10 years either way there’s so many opportunities if you want to work
in crypto I guarantee you you can find the job Wow this is a very positive
stuff this is I love this type of information okay we’re good we’re gonna
move more to the stuff that everybody’s familiar with the news let’s let’s talk
about the bigger story China what was your thoughts of recent China here yeah
everyone China’s always in the news for Bitcoin
you can count on it and a lot of the huge like price spike that one day it
spiked like 40 percent or something everyone thought it was because she Jing
ping said blockchain is great now and we want to build on that or like just I
don’t know his statement I don’t know how much that had to do with the price
directly but China’s at least from like a Western point of view it seems that
the Chinese government in change companies are taking this stuff maybe a
little bit more seriously than like American companies and regulators are
and maybe that’s just a frog product of them having a little bit more regulatory
flexibility in terms of like US securities regulators are very very
strict and we see companies leaving the u.s. all the time excluding US customers
all the time even like finance had to create a whole separate exchange just to
cater to us clients it’s it’s crazy and so Asian markets are a little bit
more flexible in that regard but yeah China China’s always in the news always
crazy I think the one thing I would say as crypto Bobby who all who does YouTube
crypto videos and stuff tweeted the other day he was like every time he
lives in New York also here with me and he said any time he sees news about
China he just always assumes the translation is wrong and he doesn’t take
an opinion on it until someone clarifies the news which i think is a pretty good
way to read Chinese China news and Asian news in general about Bitcoin and crypto
because there are so many any translation errors Westerners don’t have
great access to information to explain what’s going on in China and Asian
markets right now so if you assume anything
here is wrong and wait for it to be clarified to probably be okay instead of
I don’t know believing some foot or getting bad information or whatnot it’s
it’s a it’s tricky yeah that’s a good technique there I like that technique
hey by the way you said you’re not an OG when did you get into Bitcoin when did
you yeah so like spring or so like 2014 that college dude do that for for most
people you’re like a grizzled veteran people there’s so many guys are like
then a proud that they got in 2017 but there continues I guess so that’s true I
mean my so I found out about Bitcoin from my roommate in college he was a
comp size student it had been in a Bitcoin like a couple or several years
before he showed me about it I study economics among other things and he
thought it would be interesting to me and obviously it turns out he was right
but I like I remember 2014-2015 even 2016 guys would be talking about Bitcoin
even one of the cofounders of Masari has been in Bitcoin since 2010 and like I
bought my first Bitcoin for about two hundred and fifty dollars I think or
something like that and I remember even then just thinking oh man I’m so late
like they bought the coin for $11 or $3 or something like that and I mean now
here we are like 8000 or something but it’s yeah it’s crazy so I just I don’t
know there’s so much to learn and I feel there like I still feel new to Bitcoin I
don’t I don’t know it’s just been it Bitcoin works your perception of time so
it feels like I’ve been in this space for like two years maybe it’s just it’s
all flown by very fast I mean like the the Bitcoin cash hard fork was like two
years ago or something to and a half years ago yes and it feels like like 10
years ago or even just like a month ago it’s it’s crazy but yeah so that’s my
story yeah we value our time and have things around here you’ve already lived
through having so man you are a veteran and yet the be testing was only two
years and two months ago I was eight I was August 1st of 2017 or 3 months or
whatever but it was August 4 so it’s it seems like 10 years ago but it was it
was so recent so we’ve been through a lot a lot of people weren’t through that
I will ask you this though since she were around in 2014 and 15 and 16 you
were around leading up to the the previous having I gotta say that there
are similarities between this time period leading up to this having coming
up in 2020 and leading up to the 2016 having it you know it really everyone we
reached the bottom and then we slowly started coming up and we had some
troughs again and then finally there was the road to the have having hype started
and it seems yeah we reached it and this time around seas like we’ve reached the
bottom we’ve had some ups and we’ve had some downs but we haven’t had the having
hype yet do you see their similarities yeah yeah absolutely I think I think
like I’m not a big trader and I like I obviously wheat YouTube you do to like
encourage people not focus on the price too much or anything like that but I
think like I think over the holidays coming towards the end of 2019 here we
should like the having’s in May we should see like that that hype sort of
start a little bit and presidents even talk about this because I I tend to
think like it’s not it’s not necessarily beat the price climb doesn’t necessarily
start because of the having but there obviously is some supply shock
relationship there to some extent maybe but yeah so I I tend to think we should
see sort of some some price climbing towards the holiday at the beginning of
the new year and into the spring and then at the having summer and then after
that who knows but I mean yes there’s there’s a neat there’s an equal
possibility that it won’t happen and I yeah I mean who knows we’ve only had a
couple having’s and maybe this one will be wildly different
who knows well I’m I’m pretty confident in the 210,000 block theory you can go
back to two hundred ten thousand blocks and the price in terms of US dollar is
less so you pick any date and it’s it’s never you go back two hundred ten
thousand blocks the price was always less so in terms of what will be we had
the all-time high in December of 2017 so two hundred ten thousand blocks from
then is going to be November of twenty twenty one so we shall see we shall see
if November of twenty twenty one you subtract two hundred ten thousands of
blocks if it’s if it’s more than we I’m I’m looking forward to seeing I’m
definitely looking for you I’ve seen it and I’m definitely I know the heaven
type we’ll start again yeah probably again you just like you said around the
holidays beginning of the year did the mainstream media will wake up to this
thing called the having again and all these people who are in the space who
have no idea what it is when we start talking about it again and it creates a
little hype and people start buying it and and and then once thought once it
happens if the price goes down and then afterwards so it we’ll see we’ll see if
it’s all cyclical again but you you’ve lived wrongful yeah strong hands until
then though but now that we’ll see that’s exactly what I was gonna say I
was gonna say strong hand you’ve lived through it before so you got a strong in
alright well let’s let’s talk about some you haven’t lived through yet that is
Facebook Libra do you think it’s going to happen do you think we’ll get a fruit
uh yeah that’s a that’s a good question I honestly don’t know like I like month
to month sometimes my opinions on that change sometimes I think they can pull
it off sometimes I think the regulatory scrutiny and pressure will force them
just to sort of abandon it and then again maybe like them abandoning it will
actually help it launch because it will be even less like centrally managed and
someone else will pick it up I don’t know I I don’t know I if I was like gun
to the head had to bet one way or the other I would probably bet on it not
launching more than it more than like launching but I’m
honestly not sure I don’t know and and I think anyone who knows for sure it won’t
launch or it will launch it’s just making things up I I have no idea well
since we were talking about price a little bit let’s say they did announce
if all of a sudden the government the lovely people over there like AOC and
everyone just just they forget about it they’re like okay we’re cool with it now
and it’s obvious that it’s gonna happen what would you think happens to the
Bitcoin price yeah I think yeah I think it would be like pretty bullish because
I think if Libra launches it’s not too big of a stretch of the imagination to
imagine Facebook eventually implementing like buy and sell options are features
for Bitcoin and maybe a couple other altcoins similar to something like what
cash app supports now or you can buy Bitcoin with dollars or with Libre
tokens or something else and then like there we have billions of people now
with a brand-new way to buy Bitcoin that have probably never had the ability to
before or at least definitely not that easily yeah that would be that would be
pretty bullish I would say all right pound that like button let me ask you I
don’t know did you hear about Google how they uh they’re gonna help a bank out
what was that story that yeah yeah I didn’t read that news too carefully but
apparently Google is interested in launching some sort of type of Bank or
very happy building like a very close banking relationship with someone I
don’t remember exactly what’s going on there but Forbes took it in some article
and said this is why bitcoins prices price is crashing or something to that
effect just classic everyone always searches for a narrative to support why
the price does whatever it does but it’s it’s yeah it was one of those kill
Bitcoin articles yeah again yeah I remember seeing that but but I bring it
up because III do believe they’re they’re working with this back and
they’re gonna help Banke be more efficient I think it’s the
first step I think they want to have their own going one day III have no I
want to go back to Libra first thing I have no problem with a company like a
company like Facebook printing their own Tokyo printing their own money whatever
you want to call yeah I think companies are doing I think companies should be
able to do it just like nation states and let compete compete don’t complain
if Facebook gets let in do you think Google end up with one yeah I mean I
tend to agree with you too like I think it’s probably enough that that situation
is probably inevitable I don’t know exactly the timeline for when we can
expect something like that to happen but yeah definitely a Facebook gets the
regulatory okay we can see will will probably see a lot of other large large
tech companies building similar protocols in Libra well we’re just
talking about China if China lets an array this is happening from what I can
kind of tell I’m not there but they’re they’re letting their tech companies
have their own coin so I mean there might become clear sure there might be
pressure on the Western world if the Chinese companies really are successful
with that stuff just to letting that our companies have this earth the way the
West companies have the same privilege I guess to do that so we we shall see ah
now we’ve reached the end here I don’t think I have any more question is there
anything you that was that you’d want to bring out that that wasn’t brought up
here any any events coming up anything you want to talk about no no events or news just I mean a lot
of what we’ve talked about has been people speculating on why the price does
what it does whether it’s because of the stock to float ratio or Google’s banking
relationships or anything in between its China food and I guess my parting
comment would be to sort of take all that with the several grains of salt
because people love to spin up narratives all of them with varying
degrees of credibility and at the end of the day people only have very limited
ability to predict the price will do what it does enhanced
on what it does and whatnot so yeah don’t pay attention to the no it’s cuz
odds are most of it as noise yes avoid the crypto noise we really I really
appreciate all your tips about jobs you can follow that that was really original
stuff Zacks is link to below and I mean you
send him a DM if you got questions about jobs or whatever I’m sure you can give
some tips anyway Zack thank you very much for being on the show again he’s
linked to below found that like button everybody bang that Bell button we do
this this week in Bitcoin every Friday will get I think we’re going to be able
to get back to the regular format again once I’m back in the United States I’m
in Adelaide Australia going back to Baltimore next week it will be live from
Baltimore hopefully okay everybody new show here every day besides this weekend
between every Friday so subscribe to his channel like to like the video pal that
like button banging that Bell button disrupt my shirt I call me on Twitter at
fault to e CH BLT I’m Adam I should make my meister the disrupt meister shabbat
shalom we’ll see you tomorrow we’ll see you next week bye bye everyone
see ya

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