I Don't Know About That - Cryptocurrency with Kiana Danial

Episode Date: June 30, 2020

In this episode the team covers cryptocurrency with the help of Kiana Danial. Thanks to our sponsors Babbel.com (code : Jim); Keeps (code : IDontKnow); Raycon (code : IDontKnow).   Follow Us:   Jim Jefferies Website: www.jimjefferies.com Jim Jefferies Instagram: https://www.instagram.com/jimjefferies/?hl=en Jim Jefferies Facebook: https://www.facebook.com/JimJefferies/ Jim Jefferies Twitter: https://twitter.com/jimjefferies Forrest Shaw Website: www.forrestshaw.net Forrest Shaw Instagram: https://www.instagram.com/forrestshaw/ Forrest Shaw Twitter: https://twitter.com/forrestshaw Kelly Blackheart Instagram: https://www.instagram.com/kellyblackheart/   Jack Hackett Instagram: https://www.instagram.com/Jack_hackett/See omnystudio.com/listener for privacy information.

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Enjoy. Let's start the podcast. Cakes, both cupcake and full size. Building houses, Jack's sex life and other non-existent things welcome to jim jeffries i don't know about that hello everyone hello i'm jim jeffries welcome to i don't know about that with me uh forest is he's at home at the moment he couldn't make it to the show on time because he had an appointment. How are you, Forrest? I'm good.

I'm good. Thank you. I like that you always say a topic like cakes, both cup and regular. You haven't tell. What I do is we have some cupcakes on the table here, and the music just started. I panicked because I didn't think about it. So I went cakes, and then I looked a bit bit past it and I went, Jack's sex life.

It's good to get the making fun of Jack out of the way in the first five seconds. Oh, yeah, yeah. It's efficient. Kelly's here. We won't come back to it. It's good. Kelly and Jack, Jack house sat for me. I was away last night and Kelly came over.

And I hear you two got up to some mischief we took some mushroom capsules yeah yeah you two took mushrooms and then i come back and jack's in my house and he goes i've been watching the original og with tracy morgan the last og and he goes it's fantastic and i go or is it just good and you took a lot of mushrooms? It is really good. No, it is. It is good, but the way he just went, game changing. Yeah, that part was the mushrooms for sure. I will say though,

I had not watched that show until recently and I feel like no one really talks about it. It's great. Our friend Alan is the guy who plays cousin Bobby. So I wanted to watch that,

but it's funny. I've seen a few episodes. It's a good show. It's got heart, too. And the acting's really good. Yeah. It's all really good. Are you guys still on mushrooms?

Yeah. I got home at 4 a.m., so. Are the walls moving for everybody else? All right. I want to talk about something today that's been bothering me for a couple of weeks, and we record this a week ahead of time. I'm done with statues. i'm done with them i used to support on me tv show i was against the right wing the alt-right trying to save a statue that should have been brought down because i believe this is my theory on statues if you have that wrong you you were

no they were trying to protect the statue that the left were trying to take down now i was for that because i believe statues are for the winners right that's why we have no statues they're the hitler because you didn't win and so you know the civil war ones they bug me you lost you lost the fucking war that's why you don't get the fucking statues but now people from the left-wing people who wanted to tear that one down, they're tearing down Washington, Churchill, and some of them are unhappy with Gandhi. That's it.

The left and the right, you're not responsible enough for statues. You're not responsible. You're right-wing people, you want to keep too fucking many of them, and the left, you want to tear too many of them down. None of them. You get fucking none. We're taking them all down, including that big green woman in the middle of bloody Brooklyn Harbour or whatever her fucking name is. Statue of them. You get fucking none. We're taking them all down, including that big green woman in the middle of bloody Brooklyn Harbor or whatever her fucking name is. Statue of Liberty.

She's dressed too provocatively. You're only wearing a fucking sheet. I have to walk my kids past that fucking statue. No more statues. Well, I don't think you walk your kids past Brooklyn Harbor. No, but you can. I don't even know what that is. What's it called?

I'm with you, though. I've never seen a statue and been like, I'm glad I saw that. Not once. Yeah, I don't even find one. I'm not just saying political figures. Let's take them all. All right? My damn two swords.

No, yeah, because you can't have a statue of a person that's real because anyone who's real, they have some fucking, Mother Teresa had some opinions that aren't very fucking good. Right. Gandhi, he had some opinions that aren't fucking good. But the whole body, like Churchill was racist against the Indian people. Right. But he did beat Hitler.

So we've got to take, you take the good, you take the bad, you take the rest, and then you have no fucking statues. Right. Right. You take the good, you take the bad, you take the rest, and then you have no fucking statues, right? Right? Because now it's like unless it's just a thing that's called young lady standing. I'll take a statue that's called that. Venus de Milo, woman without legs and arms hanging about. The statue of David, it's got biblical overtones.

Just kid with slingshot. That's all it should be called. Yeah. What about that? There's the Jesus one in Rio that's on top of the mountain yeah what about that there's the jesus one and in rio that's on top of the mountain i've been wanting to get rid of that one of people's fucking necks for years that bothers me i had i had like my my ex's mother's very religious i bought her a crucifix whatever she when she was moving house she had a box that just said

crucifixes right and it's like she used to have statues around her house of just people on crucifix and just jesus just like that i'm going how is that peaceful yeah how are you enjoying it just this guy dying and like oh that's gonna make me watch fucking dr morse or whatever i fucking watch on tv but dr morse while i'm at it we don't want to hear this slanderous speech nah the the left and the right i consider myself a moderate i'm sick to death of the statue fucking debate the The Sphinx. The Sphinx. Get rid of them all. Get rid of them. We need to carve these like Mount Rushmore.

All of them. Mount Rushmore, people find that very offensive. That's on an Indian reserve and they just cut into the fucking stone. There's huge controversy over Mount Rushmore. While I'm at it, flags. I've had enough of them. My whole life I've had to fucking listen about flags. Oh, this is the flag.

This is the American flag. In Australia it's like they want to change the flag because it has the Union Jack in the corner and all the old blokes go, I went to war for that flag and bloody hell with the flag. It's just a fucking flag. I'll tell you this much, right, I've never seen a person with a flag tied around their neck that wasn't acting like a complete cunt.

Yeah. If you're somewhere and you've got a flag around your neck, you're up to no good. You're trying to upset someone else. And while I'm at it, okay, so the Australian flag sucks. While I'm at it, American flag, too fucking busy. Too much going on. Too much going on.

Just from a design perspective. Oh, too many lines, too many busy. Too much going on. Too much going on. Just from a design perspective. Too many lines, too many stars. Enough already. And everyone's like, you got the American flag, you got to be respectful of the American flag. Look, I made a bikini out of it. Go fuck yourself. You have these rules.

I made some fucking mudflaps out of it. I made mudflaps. Don't let it touch the ground. I love that. You know what I mean? Like, what the fuck are we doing here? There's too many flags. Also, have you ever been over to a person's house who has a flagpole at the front with a

flag who isn't a complete dickhead? If you wake up in the morning and you go out your house and you pull up a flag, I have no time for you. Any questions? Let's start the show. Let's start the show.

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just by looking at them and asking yes or no questions. And I have been giving clues lately too, because I don't think you're ever going to get this. I can guess pretty good here right now. Okay. So lovely apartment may have something to do with interior design going to get this all right i i'm i can guess pretty good here right now okay so lovely lovely apartment may have something to do with interior design or something like that has a child or something some small type of animal that they have to keep in a cage uh i'm gonna say married well look at that fucking rock on a finger someone someone someone someone yeah all right doing pretty well they're doing all right

doing all right so uh i'm gonna say do you work do you work with children no okay uh do you work at a university do i work at a university well for a university for a university no have you written books yes all right do you okay because we've had a lot of like beekeepers a lot of beekeepers jim jim you ask the same questions every time one day they're gonna work out it's it's it's elimination if i stop asking him and then the next week i go boom boom, I should have asked that question. What a fool I would be. I'm waiting for you to go, have you written any books? Yes.

You're an author. Yeah, okay, okay. Are you a therapist of some kind? No. No. Let me give you a hint, Jim. Okay, okay. What we're going to be talking about today involves computers

computers? still not going to help you but that's your first hint not at all I've got to be honest the only two things I use computers for I don't want to insult the lady okay don't say it then

these you know who the Winklevoss twins are I do okay you're you're a social media expert no oh they're the worst people in the world thank god the Winklevoss you are you clone people they're twins no I don't do that that that for sure I can say no uh the Winklevoss, they were Harvard graduates who they wanted to have a social media page that was just for Harvard people. And they think the idea was stolen off the guy from Facebook, Zuckerberg. But they just nicked the idea from MySpace. I

don't know what everyone's so fucking bothered about. All Zuckerberg did was, hey, you know, like how you just want it for harvard what about for everyone it's like every time i invent something in my head and get mad at the person who actually does it i'm like that was my idea i was never gonna do it yeah yeah i'm i still the foot pedal on the toilet seat yeah turns out it's been patented like 16 times okay jim what here i'm actually gonna almost give it to you now. Okay. All right. I'm ready. So Winklevoss wins, computers. Yeah.

All right. And money. You can't get this. I have no idea. All things that I have masturbated over. The Winklevosses are going to be thrilled to hear that. The Winklevosses are a pile of money in my computer. Yeah, that's about right.

Next week, we'll have a five-star review from the Winklevoss twins. Thanks for the wink. Kiana Danielle has come here today to talk to us about cryptocurrency. Cryptocurrency. What has the Winklevosses got to do with the crypto? I don't reveal the shirt now invest invest diva okay i have one bitcoin that is actually a pretty good amount yeah i mean it's 10 000 bucks right now it's worth like 10 300 i bought it as a bit of a laugh just on the robin hood app just to see

what this crypto is all about. Oh, then you don't actually own it. We're learning so much already. We're just taking a position. I own $11,000 worth of Bitcoin. So I own one and a bit, right? Wow. We'll find out in a little bit whether you screwed it over. Well, that's the whole point. I don't think a lot of people know what cryptocurrency is as abstract, the concept or something, but I don't think a lot of people really know. So Kiana, the concept or something, but I don't think a lot of people really know. So, Kiana, introduce yourself. Tell us a little bit about yourself. Hi, I'm Kiana.

So, I'm the founder of the Investiva movement, which is about investing. I help moms. So, you got the mom part right. How to invest, how to take control of the financial future. And in 2016, when all the things about cryptocurrency was going on, I got asked by Wiley to write the Cryptocurrency Investing for Dummies book because I do invest in cryptocurrencies. And now I am also kind of a crypto expert.

So that's basically it. I'm also married to an Aussie. Ah, well, there you go. But when you say you only help mums out with cryptocurrency, that seems like a limited bunch. What about like, what if someone can't is barren, for lack of a better term, right? Do you just go no help from me? We definitely have a lot of people who are not moms or dads for that matter. But the movement is so that we actually get moms to show interest in investing. I'm not trying to be rude because a lot of moms are. But it has been a little bit of an intimidating topic that a lot of moms either think they have too busy to do it where you don't actually have to have that much time. You don't have to put that much time in order to do it so i'm with you the movement is empowerment movement but obviously everyone is

welcome i want as long as they support moms i want the mothers to all of my children to make their own money so i think you're doing a wonderful job you have one kid jim so i'll pay for that one yes okay but um so the reason uh we're gonna have jim tell us everything that he thinks he knows about cryptocurrency now i'm gonna help problem along with questions and just say you know what one of the reasons that that i was drawn to you as an expert for cryptocurrency is she mentioned that jim she wrote a book called cryptocurrency for dummies which i thought was perfect for our podcast. We didn't want to get bogged down. We're dummies.

Well, ask me a question. I think I know enough. You didn't even know that you don't actually own Bitcoin. I own the value of a Bitcoin. Okay. So this is what we're going to do, Kiana. Jim's going to tell us everything he knows or thinks he knows. And it's going to take maybe maybe like five ten minutes or so and uh then we'll

go back and we're gonna grade him and you're gonna grade him on a score of one through ten on how well he did as far as accuracy of his information be fair be harsh if you need to kelly's gonna grade him on confidence and then uh i going to grade jim on his uh i don't even know what i'm going to grade you on today just just my general vibe my general vibe of you what i feel like my likelihood to get corona yeah okay well we'll see um so here we go jim what is cryptocurrency cryptocurrency is a form of digital currency that uh we have that's an alternative to regular money. It is all kept in these large computers in some central zone that I believe cost lots and lots of electricity

because we almost talked about this on my TV show. We may have actually talked about it, but I can't remember it. You're like, I didn't watch that show. I don't know if we talked about it either. I think we discussed the idea of doing it. Now, so what it is, money is an idea, right? And that we've all agreed on. We've all agreed on that money is a thing that we say this bit of paper or this number that we see on a spreadsheet is worth this certain amount and that you can buy things with it and all that type of stuff. Now, cryptocurrency came along and it doesn't involve the banks. You can't have the cryptocurrency in the banks.

And then what you do is that we've all agreed now that that's also worth something. But because we haven't really got the kinks out of it, it's quite volatile. So the Bitcoin in the last sort of year has gone between 6,000 and 12,000 and it goes up and down it peaked it peaked at 20 000 somewhere along the line i want to say about three years ago hold on bitcoin is cryptocurrency fucking hell forest i can tell by the way you just asked that question no but i mean like is there any other type of cryptocurrency there's a few of? There's a few of them. There's a few of them. There's one called Ripple. Ripple's out there. And there's another one called Bing Bongs.

Andrew Maxwell called it. But there's Bing Bongs. There's Ripples. Are these gay bars you're naming? How about this? When did cryptocurrency start? Who made it? Okay, I'm going to say the Winklevoss twins made it.

I'm going to say they made it. And they started it up 10 years ago, but it really kicked into action eight years ago. And then it got popular. Yeah, because it started and they were just walking around to mates going, I have new money. And they're like, what are you talking about? Ah, it's money that's not money.

And then you can spend it. And they went, oh, I don't know about that. I tell you what, though, the worst bit of fucking crypto usage I've ever seen is I was getting a shaved ice snow cone with macadamia ice cream at the base of it in Hawaii. I was in maui from a fucking trailer like a food truck and they said we accept crypto and i was like this is a fucking four dollar purchase who is the who is the and they had all the different signs up there of all

the different ones so you got your bitcoin you got your ripple there's another big one that people like that i can't remember and most of them most of them haven't worked there's another big one that people like that I can't remember. And most of them haven't worked. There's been maybe two of the powerful ones. The rest of them have all been get-rich-quick things where people are bored for one cent, two cents, and thought if I buy enough of these and this one takes off, that this will be a good investment. But Bitcoin's your number one.

Okay, so how is it made? How do you get cryptocurrency to get made? It's in the hearts and minds of children everywhere. You use your imagination. If you believe, Forrest, and you wish upon a star with all your heart, you get a Bitcoin. That's right. It's made by – they mine it, right?

Not physically mine it, but there's something that happens with the buying and selling of of uh sandals in saudi arabia would affect the amount the amount of bitcoin and and how varied and wide that gets yeah that seems i think you're right um no you're not uh and does it like let's talk okay so if you don't know how it's mined i might even ask uh we might not even ask this but it does use a lot of energy in order to use certain types like like bitcoin for instance uses a lot of energy yeah what it is is right there's a computer and we're just like one asshole pulling the plug away from financial ruin in this world right it all goes away it's like that iot show or Robot Man or whatever it is

with the Freddie Mercury character where he's downloading the banks. Oh, Mr. Robot? Mr. Robot. It's like Mr. Robot, but it's less of a drama because it'd just be some cunt pulling the cord out of the wall. Now, when he says mine, there's powerful computers and it's using up so much energy because it's just sitting there going. And he's one of those. Have you ever play a video game where you have to get currency by mining things and all of a sudden it just takes time and then you go back to your game and then you go oh i can

build a new castle because my little minds have been making money yeah very similar to that a bitcoin okay yeah that's probably wrong too um why don't people like for us i want to be honest with you i make most of my money out of telling jokes that's how you mine it all right what is blockchain what is blockchain yes that's when that's when you're in a group chat and one person acts like a cunt and everyone goes to them. You're crushing it. You do make money with jokes. Do you know what cold storage is? Well, yeah, it's – no.

No, I was about to say some fridge joke or something like that. I think cold storage would be some, I don't know. Why do we have to just, I only got a grasp of money recently and how that all works. Like why do we have to fucking tinker with that? Because the thing is my son's going to come to me and go, hey dad, do you know a bit about Bitcoin? I'll go, no, I don't know anything about Bitcoin.

Chocolate coins is the only coins I bite into. Oh, that's good. Hopefully you know this. Can cryptocurrency be stolen? Yes. I'm going to say sure. Sure, sure. Why not?

Because the thing on the internet is that they can steal your identity and then they can say they're you and they can steal your Bitcoin. And you have less bit. That makes sense. We can keep asking questions. I feel like the deeper we get in here, you're not going to know shit. I knew a reasonable amount about the Olympics. I knew a qualifying amount about cheese.

I don't know about Bitcoin. Let me ask you three more questions. Let me ask you three or four questions. Sure. Let's see this. Do you know who Satoshi Nakamoto is? Come on. Everyone knows who he is.

Fucking layup of a question. Fucking two Michelin stars, best tuner in town. And what do you know? No, he invented Pac-Man. I'm going gonna invent a pac-man yeah i saw the movie pixel he's the guy the big pac-man i everything okay last question uh i just so you know okay normally we go on way longer of this jim has given up i really know nothing i will be funnier when i get given facts um one last question Do you know what the dickening is? The dickening.

Yeah. We can't talk about that. That's what happened just before the Me Too movement. Yeah. Yeah. It's a little too soon for us. Jesus, Farron. I'm trying to get me in trouble.

The dickening. It doesn't relate to CryptoCurriculum. The dickening is a great story. The dickening is everyone's seen that sketch now of Harvey Weinstein's penis. It's meant to be covered in fungus and just been eaten away from bacteria. All right.

That's a good segue. Should we go to an ad real quick? Yeah, that's exactly when we should go to an ad. Let's take a break. Now it's time for this ad break. Has the dickening bothered you? We have a new cream. Do you want to shave your balls?

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We're here with Kiana Daniel from Invest Diva. We're talking about cryptocurrency today. We just heard Jim stumble through his explanation of what cryptocurrency is. Gracefully stumble. I do want to say one thing about the word diva, though. When did diva get hijacked into being a good thing? Diva was always meant

to be someone acting like a diva was them. No, I thought it was always that diva was like a star where it's like that big thing and then it turned into... It's a star that goes, and where's my makeup

in my trailer? Like climbing on that? Yeah. Sure. I actually didn't know the meaning of diva english is my third language fyi's i didn't know the meaning of diva when somebody actually suggested that i named my company invest diva 10 years ago and then yeah i have been facing a lot of comments like yours on social media. I'm a self-proclaimed diva. No. I didn't even know what it means. I wasn't trying to be rude.

I just was wondering more about the web because I have a company called Money Bastard. And it's for deadbeat dads who don't talk to their kids anymore. All right. So, Kiana, you listened to Jim talk about cryptocurrency. I asked him some questions. On a scale of one to ten, ten being the best,

how do you think Jim did? And be honest, please. You're not going to hurt his feelings. He did get some things right, but the rest of it, I would give him a three. Wow, that's very generous. Very generous.

No, no, you're very nice. That bastard from the post office. I'm a mom. I try to please people. See, she's not a diva at all. The post office gave me three and I called out there was 30,000 post office. You definitely got

i said george washington was the first there benjamin franklin was a postmaster general three no okay well that's fair uh kelly uh on confidence how did jim do um one no i wouldn't even give me that. One. That's how little confidence he has. He's just like ashamed that I gave him one point. I don't even deserve that. Today, I'm grading Jim on et cetera. That's the category, et cetera.

And you got a zero. Zero. This is such an asshole. I got to tell you, this is the first time on this podcast where I've actually been ashamed of myself. Where I'm like, because everything else I'm like, people listening at home will go, he's not an idiot. He pulled up a few things, right? But now this is something important that has to do with money. And there's people that just go, he's a moron.

So I'm actually a little embarrassed by this. You have people that handle your money. I gave it to the Winkle bosses years ago. You have people that handle your money. I gave it to the Winkle bosses years ago. So here's, so anyways, I forgot to say, if you had scored between 21 and 30 total, which you know you didn't, you would have been a Bitcoin boss.

11 through 20, a bit average. I've gotten it down to three categories now. And zero through 10, which is where you're at. You're an itty bitty idiot. That's pretty good. Pretty harsh. All right, let's go back through it. Kiana, thanks for hanging on and being

patient while Jim did that. Let's start at the beginning. Cryptocurrency. I think this might be the only thing Jim said that was sort of accurate. It's digital. And he said, yeah, it's digital. He did say that as a sort of a kind of a money. So that's why when he said that, I was like, okay,

he at least knows it's, you know, money. And he went on to the definition of money and he got it kind of right. But if you want, I can start with definition of money. Sure. There are three things that makes money, money. It has to be three characteristics it has to have enough people to have it and merchants might should accept it as a payment method and society must trust it that it's valuable and that it will remain valuable in the foreseeable future so

and i hear that is the definition of money i hear it all contains traces of cocaine all of your money. Every time you hold an American note, they go, there's cocaine on that. I've been licking and licking. Okay. Jim, I like that you said money is an idea. I was like, okay. It is.

It is. I agree with that. It is. It is an idea. So that's true. That actually is true. So that's why I was like, okay, so he's onto something because if I give you like a piece of paper and nobody believes it has a value, then it's not valuable, but a hundred dollar bill, it's just the idea of it. The

message that it has on is what it gives its value. So that's when I was actually accurate. This is a little thing. This is a little bit off topic. I don't know whether you can answer this question or not. I've traveled the world. I understand that different currencies are stronger than other ones. The Australian dollar is about 60 cents to the American dollar, and the pound is about $1.20 or something like that. But then you go to countries and it's like $1 is 4,700 and whatever.

Why do we have to keep that like that? I understand there are dollars in the toilet, but why can't we just knock like seven zeros off and we go, we know it's bad, but don't worry about it. Why do they have to stick to these stupid numbers? Yeah, I went to India and it was 42 rupees to the dollar at the time and I felt like a fucking queen. No, 42 is all right.

You go to like South Africa, I don't know, there's ones where like Thailand or something. Indonesia was like 20,000 to one. Yeah, Iran is 40,000. That's wrong. Iran is 40 freaking thousand. And they actually did cross off two zeros of it like 10 years ago

and still is extremely going on. So that's why actually the idea of cryptocurrency can help kind of globalize a cryptocurrency so that you don't have to just worry about all these exchanges. Right. So cryptocurrency never moves from country to country. It's universal through the whole thing. So there's never going to be a moment where we go, a cryptocurrency is worth more in Australia than it is in Iran or whatever. Well, the idea of it. So if you're exchanging cryptocurrency or Bitcoin to your currency, say if you're exchanging cryptocurrency or Bitcoin to your

currency, say if you're exchanging Bitcoin versus the US dollar, whereas if you're exchanging Bitcoin versus the Australian dollar, then you're going to get, you have to pay less or more. So the exchange, if you're exchanging it with fiat money, that's what we call normal currencies, then yes, the fluctuation will be there, but one Bitcoin will be one Bitcoin. Right. So let's just kind of get back up to crypto. So can we just get the easiest explanation of what cryptocurrency is and maybe like when it started and that kind of like just the origination of it? I don't even know what the word crypto means. like just the origination of it.

I don't even know what the word crypto means. Should we start there? The reason why they call it cryptocurrency is because it derives from the word cryptography. Cryptography is like some sort of a puzzle, a mathematical... All right, let's go to blockchain. It's cryptic. Do you know what the internet is?

Yes, I know what the internet is yes i know what the internet is yes yes good you know how it works it's where you yeah you look at videos of the guy with the finger with a kid where you go you know why do you know why so what what are some byproducts of the internet some byproducts uh you can get you can get your identity stolen you can get scanned like bad byproducts or just byproducts anything anything there's social internet online banking all these type of things you know you can buy things from amazon that's it you know that's all it does exactly so blockchain is like the internet 2.0 and bitcoin or cryptocurrencies are a byproduct of blockchain so what email is to internet, cryptocurrency is to blockchain. So blockchain is the actual revolutionary idea and technology that is going to completely

revolutionize our society. And one of its use cases is Bitcoin. And the person or persons who created blockchain idea, they use Bitcoin as an example of, okay, this is how you can use blockchain. So what is blockchain? Do I need a new computer? Is there a blockchain machine I need? Or how do I get under the blockchain? So blockchain is basically a chain of blocks.

Right. And what it is, is basically, it's a ledger, it's a digital ledger that it's distributed. What that means is that it's shared, it's peer to peer. You know how you, you know, Airbnb is, it's the idea of shared economy, Airbnb, Uber, like things are becoming shared. People are becoming more peer to peer. Blockchain is the community of all these people who are keeping the data safe. So for example, when it comes to, let's say Bitcoin versus money, the US dollar is centralized. What that means is that the

Central Bank of America is in charge of all of it. It's the third party. They can print money, they can do whatever they want, they can do inflation, interest rate, whatever. But when it comes to Bitcoin, there is all these people in the Bitcoin blockchain who are at their computers and make and looking at the data coming in and out and verifying each and every data it's distributed for that it's not centralized right it's decentralized how many people are the all these people how many people is that a ton okay but what's to stop it from being corrupted by a few of them getting together and going, oh, let's fuck with the Bitcoin. So the reason why it's almost impossible, I'm saying almost, is because anyone, and I'm saying anyone, like you and me can go and just download the whole Bitcoin blockchain

and look at all the data. So because so many people have access to it, tampering with it becomes more and more difficult. Because like, let's say I download all the Bitcoin blockchain today in my computer, and somebody attempts to tamper it, and I'm just putting it, it's almost impossible because blockchain goes block by block. And each block has all these data in it. It has data. It has something called the hash that kind of is like kind of the keyword that connects it to the next blockchain. And the next blockchain has the data. And each blockchain basically is worn based on one thing that you mentioned is mining. Right.

So all these miners in the block. Yeah. So if you download the blockchain, it's on your computer. Yeah. And so somebody else tampered with it, you'd have a copy of it still to be like, this is... Yeah, and I say, hey, look at that.

So everybody is constantly, consistently checking that all the data is the same. So there are millions of people. So it's safer than the government running our money because it's being policed by everybody 100% basically the hackers would have to hack everybody's computers in order to go and tamper one block and it it could happen they have this thing called the 55 51 percent attack where like supercomputers who are that are super fast would try to, if it has more than 51% rates of the blockchain, they may be able to tamper with it,

but it is increasingly unlikely, especially as more and more people get involved. Wow. That's so complicated. That was pretty close, Jim. You said blockchain was like a text thread where there was one asshole. I think that I did a lot better than people

maybe i'm not an itty bitty idiot if you could watch jack right now processing all this jack's been sitting there like this the whole time yeah yeah jack was pointing at the sides of his head because he thought that'll make information go in harder. Processing, processing. I think this is like, it's funny because it's like, it is hard to wrap your head around Bitcoin. But that being said, Jim knows nothing about Bitcoin. And what did you say? You bought a Bitcoin, Jim? I own a Bitcoin.

I'll show it to you. I've got a Bitcoin. Well, don't show it to us. Then we can steal it. No, you can't steal it. It just is a graph. It's just a graph. But on the Robinhood, I bought one Bitcoin.

I did it once in the writer's room. There we are. There you go. There's me Bitcoin. How much did you buy it for? I have, oh, Christ on a bike. Here we go. I own.

What happened? Oh, I own $9,612 worth of a Bitcoin. Why do I not own a Bitcoin? It says I own a Bitcoin. Can I tell you why? I would love to. Does this money exist or is it gone? No. So Robinhood is not acting as an exchange here. Robinhood is acting as a broker. So what that means is that you're taking a position on Bitcoin's price and you're trying to take a profit when the Bitcoin price goes higher.

If you actually had a Bitcoin, you would be able to transfer it to your, what they call it, wallet, which is a crypto wallet. And that is the only way to actually own it. The only way you can actually own a Bitcoin is if you go through the exchange or the ATM to buy it. You haven't bought the Bitcoin. You haven't taken a position. So where do I buy a Bitcoin? I'm going to have taken a position. So where do I buy Bitcoin?

I'm going to go home and get one. Where do I buy it? There are so many exchanges. You can buy it at Bitcoin ATMs. I like Coinbase. I buy my Bitcoins and other cryptocurrency on this exchange called Coinbase. They're the most regulated one in the US. Coinbase.

All right. But when you say an ATM, can I walk up to a machine and buy a Bitcoin? Yes. And where are these? They're in Hollywood. I've seen them. They have Sprinkles cupcake machines. in the US? Coinbase. When you say an ATM, can I walk up to a machine and buy a Bitcoin? Where are these? They have sprinkles, cupcakes. There's like a whole storefront. It says cryptocurrency cash in place and there's an ATM outside with the Bitcoin logo. So I put my credit card in and I go

10 grand, give me a Bitcoin and there's one shootout. It's like a poker check. Because they always show the Bitcoin with the B with the little stripe through it and it always looks like an actual coin is there is there is it can i get a physical one just for just for shits and giggles and that would be worth anything but i can hold one and yeah no no i mean we'll get you one made it's fine no when you buy a bitcoin it's all digital so there is nothing tangible about it at all. What happens is that it gives you a code that goes to your cryptocurrency wallet.

Where do I get the wallet? Where is that now? Online, digital. So that's when Forrest asks you, do you know what a cold storage is? So there are different types of cryptocurrency wallets. It's where they get the ice cream, they cut it up on a rock and they add stickers. Basically, what happens is that you have, for every wallet that you have, you have a very special wallet address that is unique to you. And that's why it's actually super safe.

It's like a fingerprint. Nobody's wallet address is the same. That's why your ATM won't mistakenly send a fingerprint. Nobody's wallet addresses the same. That's why your ATM won't mistakenly send it to somebody else's wallet. And basically what happens, the ATM machine, or if you buy it on Coinbase, I mean, Coinbase has its own wallet as well. But if you have your own wallet, which I recommend that you do, then you will basically transfer that Bitcoin address to your wallet. So Coinbase is a place where you can actually own Bitcoin and store it? Yeah, so that is what called what a hot wallet is.

So because cryptocurrency has had a little bit of a controversy and there are a lot of hackers and scammers trying to get on this, normally we advise people to have a cold wallet, had a little bit of a controversy and there are a lot of hackers and scammers trying to get on this normally we advise people to have a cold wallet which is which means a wallet that is not directly connected to the internet or once you get it that way hackers can just come into your computer and and hack it and steal your bitcoin on the exchanges i mean they have gone through so many um regulations to make it as safe as they as they can but there have been so many hackings and exchanges we have mount gox in japan and so many others that hackers just go into the exchange and steal people steal

people's bitcoins or other cryptocurrency that are stored on their wallet so it's better that once you buy your cryptocurrency on an exchange you just transfer it to your own wallet. Right. Okay. I'm no closer to knowing what's going on. I'm going to go to that webpage. I'm going to buy some Bitcoins and I'm going to put my wallet in the fridge. Before you buy a Bitcoin, you have to have a wallet.

So you can just, some of the best ones, you have to have a wallet i don't want because especially you're now announcing you're gonna go go buy a bitcoin people can just like hey look jim jim is buying a bitcoin let me go hack him so you want to have a wallet before not not that well did you just take out your wallet that's what i pulled it looks like a USB, the Bitcoin wallets, the cryptocurrency wallets. But I lose the software to download printers onto my computer. I can only print about four things and then I got to buy another printer every couple of years. How am I going to keep this thumb wallet? I was saying the other day, I can't find me birth certificate.

I don't want to have me crypto on, buddy. So what you can do is to buy a computer that you can't lose and disconnect it from the internet and store your your cryptocurrency there so that is again another version as long as it's not connected to the internet and it's never been that would be even better uh you're gonna be safe hold on that being said i read a story and i forget the guy's name but he bought crypto he bought some bitcoin when it was i don't know 25 cents or something whatever it was and he had it on a computer and then he lost the computer i think and or it got rid of it or something and at this point it would be worth 25 million dollars like that so unless you have that usb stick or the computer then you don't have the money so So you could still lose it. Yeah.

And another thing, other stories like that is a guy who had a ton of cryptocurrency and he died and he had not shared the password of his computer with anyone. So all that Bitcoin is just in that computer and it's just gone. Well, I'm sure they sit there with his computer every day. Yeah. Like his wife and his kids and they're like, what was the name of that woman when he had an affair with? That horse, Cindy.

No, that's not the password. Yeah. Okay. And then so going back to Howard. Not seeing Forrest's face because Forrest is home right now. Not seeing Forrest's face when he gets disappointed in me

is even harsher. When you just hear him go, yeah, okay. I'm just trying to learn about cryptocurrency buy gold everyone so do you think do you what do you say to people who say that cryptocurrency is a fad that will just go away one day like could, could it just go away? Could the people go, I would turn it off. This was all a bit of a laugh.

Some cryptocurrencies could and will. So that's the thing. It's kind of like the dot-com bubble, you know, when there were so many tech companies and everybody was super excited about them and some of them vanished and some of them stuck and there are the most valuable companies right now so i don't think the idea of cryptocurrency will go away this is just the beginning because the idea of it is just so good it has so many pros that outweigh the cons even as it is today there's a lot more room for improvement in it. How many are there?

Right now, there are 2,000. We know about Bitcoin. Because I always was like, Bitcoin is cryptocurrency. Sorry, folks. This is a good time to advertise my new company, Pebbles. I've decided that Pebbles are worth money. The Pebbles in my yard are worth $1,000 each. Pebbles.

Where does the value come from with your pebbles? Because I say it's valuable, and I've just got to get other people on board who agree with me. Yeah, you've just got to speak confidently. You've just got to speak confidently, and then you go, and the way you keep them is you put them in a bag. You put them in a bag. A cold bag.

In your freezer. You put them in a bag that you get from the supermarket when they say would you like a bag you say yes you say yes these aren't for picking up dog shit anymore they're for pebbles i can invest in some pebbles i'll sell you some pebbles when we get home jack so some people try to do that at the beginning when cryptocurrency became a thing so there were a ton of people who were like hey look at my cryptocurrency and they got a bunch of people to invest in them and they were scams so yeah that did happen but now the whole industry is becoming more regulated what becoming educated what is to stop me from really just starting my own cryptocurrency well right now there is

regulation that you have to go through at the the beginning, all you needed to have was a white paper and an idea and saying, hey, this is my idea. Give me money. And people would give you money. But now you can't. You actually have to go through regulations. What would you say are the top three to invest in? And this is a follow-up question.

Do you think that cryptocurrency will continue to rise and rise or do you think that it's plateaued? All right. So I'm not going to give you financial advice. I am, though, going to give you the reasons why I think cryptocurrencies as a whole is going to be the future. One of them is that, first of all, it's going to be the economy of future because it removes the middleman. It

removes your bank. It removes your need of depending on your government for money printing. It removes inflation because right now, guess what is happening? COVID-19 happened. What did the central banks do? They just print money. What does happen when they print money? They devalue the currency. The US dollar is becoming devaluated. And unless you're investing your US dollar, if you're just having your US dollar sitting in the bank in your savings account, your future is going to be expensive because inflation is going to kill it. You cannot print cryptocurrencies out of nowhere. For example, with Bitcoin, there is ever only going to be 21 million Bitcoins. Ever. Or is it 22?

Oh, so that limits... I didn't know. Now it all makes sense. Now I get it. And I earned one of them on Robinhood. Yay! You still do not own it, though. You don't own it.

To be clear. You don't own it. Yeah. You have a position on one Bitcoin. But actually owning a Bitcoin is a big deal right now or in the future because, you know, even with gold, we never know how much more gold we can mine. There could be planets out there that are just completely gold. And if we discover that, discover it and, you know, and they said there could be a lot of gold in the undersea that

there are, it's undiscovered. So even gold cannot, we cannot say by confidence that the supply of gold is finite by Bitcoin is. So, and so are majority of other cryptocurrencies. So that is one of the biggest things in my opinion. And then it's security. So the funny thing is that a lot of people think that Bitcoin or other cryptocurrencies are not secure. The matter of the fact is that actually the blockchain is a lot more secure than your local bank. Right. But what if someone steals that thumb drive or steals your computer, breaks into your house? And we've heard about the guy with the password and all that type of stuff. My money seems to just be a digital number that is given to me all the

time by the banks and they say whether it's going up or down and you know i take a screenshot of it and then i move on with me day right but it's it's what is this like how i feel that would be less safe because it can just be physically stolen from you it's like keeping if you don't trust yourself you don't have a safe at your house then yes but so there are ways to combat that like you can you can still you can store your cryptocurrency in your wallet and you can have a copy of your wallet address somewhere else so that if you do lose your wallet you have the address somewhere else so then you can go to the blockchain say hey that, hey, that is my address. And there are different versions of wallets that you can have.

You can even have a paper wallet. You can have the USB version. You can have a computer. And you want to make sure that you leave copies around your house. And you are in charge of it. That is for sure true. And if you trust your banks, that's great. If you're in the country that you trust your local government, that's awesome.

But I'm from Iran. And back in the day, before the revolution in 1979, I'm going to give you a personal example. My dad was a very successful CEO of a construction company. And he was working with the Shah and everything. Then the revolution happened. And he had all his money in the bank. Right? Right.

And the revolution happened. The new Iranian regime came on and took over all his money in the bank right right and the revolution happened the new iranian regime came on and took over all of my dad's assets and they froze his bank accounts right that's not good if he had his cryptocurrency that would not have happened because he would have been in charge so um that is one way if you don't trust your government so that's why it's big in places that people don't trust their governments um and also one of the other main things is that it's going to help the unbanked and the underbanked you know so to to my shaved ice example that i gave right my daughter just came in. Sorry. Hey, how you doing? That's my half Aussie. Here's my daughter crypto. Hi.

Oh, hello. Oh, adorable. So how do I spend my cryptocurrency? How do I spend it? Like if I have it and I want to buy a house, can I buy a house? Can I buy a car? Can I buy a burger with it? How do I spend it? Yeah, so if people have it and I want to buy a house, can I buy a house? Can I buy a car? Can I buy a burger? Can I buy a burger with it?

How do I spend it? Yeah. So if people accept it, as long as people accept it, you can, you can do it. And there are so many places that now accept cryptocurrency. I actually have to bring up the list of it, but I feel, I think even Whole Foods is accepting cryptocurrency. Right.

But do I have a credit card that they give me or do I just sort of give them a special handshake? How do we do this? So basically you enter, however they have set up their cryptocurrency swiping. There are now companies like Stripe, not Stripe, Square, that kind of work like Square, that you basically just swipe. I also read an article the other day that said PayPal is going to get involved now.

Yeah, PayPal is going to get involved. You can have an app on your... Phone. What is it called? Phone. He knows that one. You're all up on this technology that kind of works like Venmo how do you use Venmo

or how do you use yeah PayPal for that matter so instead of giving your email address you have your special they probably have some sort of like barcode that you can scan to send to so for different cryptocurrencies there are different digital wallets that you can use to send to or something. And sometimes I have barcodes, exactly. So for different cryptocurrencies, there are different digital wallets that you can use them differently.

But if you have your... It was PayPal and Venmo to roll out crypto buying and selling. So I'm imagining that you'll be able to... Anything you can use PayPal and Venmo for, you'll be able to use cryptocurrency with. And also, it is becoming more

quote-unquote mainstream, because I know that I don't know what her name is, but her name is Crypto Mom, Hester Pierce. That's Octo Mom. She has eight bitcoins. Lots of interest. She was just appointed to the U.S. Securities and Exchange Commission. Her name's Crypto Mom, so she's a big proponent of it. And now she's, you know, this means the government's getting involved, though.

That's the only thing. I always feel like this is like an outsider thing. And now can it be taxed now that the government's involved and all this? Yeah. Can you be taxed for having Bitcoin? Like because inheritance tax, when someone dies, the government taxes the money again, which I despise. Could they tax your Bitcoins that you inherit? Right. So at the beginning of Bitcoin,

government was not involved at all. So a lot of people just got a ton of cryptocurrency stored in their cold storages and were not taxed. So they got lucky. But now that the US government is actually one of the largest, biggest holders of Bitcoin. They're getting involved. And even my accountant still doesn't understand how it works exactly. But I've been talking to a bunch of accountants. And how it works is that a taxable event for cryptocurrency is when you make an exchange. So if you just have a position on Robinhood on Bitcoin right now, you don't have to pay a tax. But once you sell Bitcoin for a profit, that is when you have to pay a tax. But once you sell Bitcoin for a profit, that is when you have to pay a tax. Right.

So did you buy yours for less, Jim? Yeah, I got it for about six, and it's worth like nine now, my portion of my Bitcoin. So it's not taxable. Okay. I just want to go back for a second. Someone may have answered this for me. How do we mine it?

What's the mining? Oh, yeah, we didn't talk about that. No, we didn't. Yeah, so mining Bitcoin has become very, very difficult nowadays. And we talked about this has just become super inefficient and takes a lot of power. And unless you have a mining farm somewhere in Russia or in China that costs really low for your electricity bill it wouldn't make sense you would actually be better off just buying it uh because it would

take um you would have to invest a lot more in the electricity bill but why does it take so much electricity i'm not getting this like why does it take more electricity than just a push of a button what's the what's the computer doing that is taking this electricity it's solving a mathematical problem so that's what mining is so before as so the first bitcoin mining was probably just like the computer had to solve a problem two plus two is four and they would get a bitcoin right but the beauty of bitcoin and the reason why it's considered as a store of value is that as we approach the final Bitcoin to be mine, the mathematical problems become more

difficult. So not every computer can solve those problems. Who's setting up the mathematical computer? Is the computer getting artificial intelligence and it's getting harder and harder and harder and harder and harder? Is the mathematical equation, if Jenny gets on a bus and she has four apples, is it that type of thing?

And she travels two miles. Why did her boyfriend dump her? That was like probably for the second Bitcoin. That was the kind of Bitcoin we got. That makes sense. But now it's become way more complicated than it can either probably even like we like people will not be able to solve it so that's why it takes so much energy because the computer is trying to solve a mathematical problem in order to get a fraction of the bitcoin as a reward so this is what we were going to do

on the show Jim we never did it we were going to talk about possibly talk about bitcoin mining and how much energy it takes up and there's's little hotspots around the world where people set up these computers and like these, this is my extent of the not, and these giant like shipping containers. So they'll have these huge, huge supercomputers that take up so much energy. And then, and right now, this is an article from last year. They said right now the amount of energy Bitcoin is taking up could run the

Czech Republic. Yeah, but there are other cryptocurrencies you can mine. Seven light bulbs. Sorry, Czech people. Sorry to our 12 listeners in the Czech Republic. Let's take a really quick break. Were you finished, Kiana? Sorry, I didn't know if we interrupted you.

Oh, yeah, no. You were in the middle of a joke I was trying to make. So, no, you can mine. Bitcoin takes some some energy but there are other cryptocurrencies that take less energy so personally we were um mining what was it uh oh man so the armchair monero uh last year monero was actually very cheap to mine so we had set up some a bunch of my husband's gaming computer is a mining monero and that was isn't monero a chocolate biscuit with a bit of my husband's gaming computer as a reminding Monero. And that was totally appropriate. Isn't Monero a chocolate biscuit with a bit of vanilla in the middle from Italy? Yeah. Yeah, that's what it is.

Delicious. My favorite thing in this podcast so far was when Chiara just goes, yeah, you're in the middle of a joke anyway. It wasn't that good. I'm always in the middle of one.

It's whether I get to the end. Kept waiting for it to end, but no punchline came. All right, let's take, I want to talk about the dickening for sure. So let's take a really quick break and then we'll come back. Whether you're working at home or working on your fitness, you want what you're listening to to be what you're listening to. Not what everyone around you is listening to.

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For 15% off Raycon wireless earbuds. Buyraycon.com slash I don't know. So the dickening. Forrest, you have the information in front of you. Why don't you try to tell us quickly what the dickening is? I can't tell you what the dickening is i can't tell you what the dickening is but um okay let's do the dickening is um so there's a guy and i i don't know you pronounce his name john mcafee is how you pronounce it because i don't see mcafee

he um mcafee i guess john mcafee i think the security guy yes yeah he invented the the norton mcafee mcafee yeah oh that was the fast coffee and now that's my guy mcafee he's the he's the maccabees he's the one with the candle with the jews like i don't know i don't know that one which one's the jewish the maccabees what do they get up to what are you talking i don't know mcafee with an f he's the two families that couldn't get along in that hillbilly town okay so anyways there's there's a documentary on him called crazy gringo and i think it's on amazon or something like that and if when you watch that you get an idea that he's a little unhinged might be the best word he may be responsible for

some murders of people in belize um he also finished second in the libertarian party to to gary johnson as their candidate for president but um he's got some interesting ideas opinions and viewpoints but because he's in the world of tech and if i'm wrong kind of you can interrupt me i mean because in the world tech he'll make comments on certain things and he predicted that bitcoin would get to one million dollars by the end of 2020 or else he would eat his dick on television i feel like someone wanted to do that anyway he's like what's a ridiculous number because i definitely want to eat my cock don't make me do it it's at eleven thousand dollars right now he's like definitely a million

i'm not gonna have to eat my dick on tv this is like warner herzog eats his shoe anybody no no there's a website and it's the dickening or just dickening.com and there's a countdown timer jack was in the middle of a joke then everyone yeah so he's gonna eat his dick uh any thoughts on this well here's the thing is he just he tweeted back the first tweet was that he'd eat his dick i will if not i will eat my dick on national television then more recently uh i guess this i feel like that would be more of a porn hub type of thing i don't feel like national tv is going to be like, geez, we're short of programming with the COVID. I've got a pitch for you. Dear NBC, I have an idea. It's a really short episode of Black Mirror. He totally backpedaled because when I interviewed him last year, he was totally

saying, it's just mathematics. Only an idiot would not see that Bitcoin is going to get to 1 million. That was last year. And now he's just backpedaled. He's like, whoever thought I'm going to actually eat my own dick is an idiot. I'm like, I want to know if he was going to cut the dick off first and eat it on a plate or bend over. Because surely we could have some type of compromise where he eats a ball of his pubes or something. Like, I'm not an animal. You can keep your dick, but eat your pubes using Manscaped.

Here's what he wrote on Twitter January 5th of this year. He goes, eat my dick in 12 months, question mark. A ruse to onboard new users. It worked. Bitcoin was first. It's an ancient technology. All know it. Newer blockchains have privacy, smart contracts,

distributed apps, and more. Bitcoin is our future, question mark, was the Model T the future of the automobile. So he's just completely like saying it was a huge joke. And of course, he got everybody to kind of... I just want to say one thing about this guy. I'm sorry. If you've watched the...

I don't want to ruin the documentary, but I have to say this about the guy. Crazy Gringo is a documentary about this guy, John Caffey. And at one point, it is revealed that in Belize, where he has this compound, that he has these hammocks with holes cut in them so that women can sit in the hammocks and shit in his mouth. That's one of his fetishes. Oh, I thought it was like a Rub and Tug pilot

where they put the hole in the massage table so you can get a handjob. I've been told that's what happens. No, he sits under the hammock and has women shit in his mouth. God damn. It's a good documentary. Wow, this podcast is really taking a turn. Can you imagine how many people are sitting in their car going, this is very interesting.

It's a cold wallet and you buy them and you can get to ATMs and there's only a limited amount of Bitcoins. This is very interesting that's a cold wallet and you buy them you get to atms and there's more there's only a limited amount of bitcoins this is very interesting and then like you start talking to his wife and then they just go hang on i want to listen to this xpx and all you hear is forest going shit in their mouth he's gonna eat his dick it was right it was right after an ad break so you know some people fast forwarded and they're like, what the fuck did I miss? Nothing, you've missed nothing. All right, just to get the podcast back on track, can you see a time when I shit my mouth? Can you see a time where Bitcoin takes over money?

Where money is gone and we're all Bitcoiners? Where even like the government just goes, we're done with money, you spend it all on Bitcoin and call it a day or whatever cryptocurrency. Yeah. So it might not be. First of all, I don't think it will be Bitcoin if it is. Because Bitcoin is more like gold.

It's a store of value because it's so expensive to mine. It takes actually a while to transfer. It's not optimized for actually payment. There are other cryptocurrencies that are optimized for payment. So Bitcoin definitely is ancient. So I do agree with John McAfee on that, that it is ancient, but because it has a brand name and because it's the truly decentralized one that nobody even knows who created it, I think it's going to stay around,

but as a store of value. Other cryptocurrencies, I don't see it for a long time to completely get rid of money. I think it's going to be one of, I mean, it is right now anyway, a form of monetary exchange. And right now, for example, people who are using Bitcoin on a larger scale are people, let's say, a prince in Dubai wants to buy a yacht from Switzerland or I don't know, and they don't want to wait 48 hours or 72 hours to finalize that transaction. They just go with cryptocurrency because it's faster. They don't have a middleman and just stand there so there's a lot of luxury exchanges you using cryptocurrency they don't have to worry about the exchange rate things like that uh but to it to completely get rid of the u.s dollar especially or other fiat currencies i think it will we'll have a very very very long time ago now with the mining when it mines it you said there's a big mathematical equation and the end fiat currencies, I think it will have a very, very, very long time to go.

Now with the mining, when it mines it, you said there's a big mathematical equation. And at the end of the mathematical equation, the computer solves the mathematical equation. Is there like a celebrationary screen on your computer, like when you finish a video game that you've been playing for a very long time? It's confetti and balloons. Yeah, you get a Bitcoin. Yeah, but is there a noise that goes and like a little coin shoots up on your screen it goes and it flashes down does that happen no because it's mainly fractions i'm trying to remember no it's just a number just goes up

because it keeps mining and mining and mining so the number is like just easily going up like the amount of bitcoin that you are well they're they should do that. They should do that. Bit of show business. Bit of show business. I'll do it. I'll do it. My head will sharpen the screen and go, you've done it. You're a mathematical genius.

Have your coin. Jim will do it for free. Go back to mining. And then I'll just slip down the screen again. Okay. I think there's one more thing I want to mention. Oh, I want to do one more thing. Okay. So when you said like the shakes

and the people want to buy boats and stuff like that, when cryptocurrency first came out, a lot of the complaints that people were saying was that it can be used to buy things in the black market and used to make drug negotiations and stuff like that. Is that being regulated or is that still going on? As much as any other thing has been regulated, can you purchase things on black market using US dollar?

Yeah, but they can go back to my bank account and say, oh, you did that. Like, can I buy a child from a different country? Is what I'm really, not for anything bad. Just like, can you do something like that? Just a hangout? I'm just saying something out. That was a bad example.

Bad example. I was buying a child from another i'm saying can you can you do something like outrageous like that because of bitcoin and get around government bodies like so at the moment when i said well the moment i'm gonna stop talking at the moment you know okay so russia has stopped adopting children out to americans right they've stopped doing it and they used do it. I have a friend who has a couple of Russian kids that he adopted from there. Could you work around that, something as big as that? Or could I buy a whole heap of heroin

and no one would ever know? How would you do that? Actually not with Bitcoin. Because Bitcoin, that is a common myth. People think that Bitcoin is anonymous. It's not. You can download, as I said said the bitcoin blockchain on your computer today right now and see what everyone has done there are cryptocurrencies that are optimized for

anonymity is that the right word anonymity no no look look you're doing better than me in english is my first language yeah you're lucky by the way that i can understand what you're saying because when i first met my husband i couldn't understand a word he said with an Australian accent. I know. You probably wouldn't have gotten married if you bloody understood right away. That's the thing. I couldn't understand it. That's why I said yes.

My ex, my son's mother, she couldn't understand my voice. And she has quite a high squeaky voice. And for the first few months of our relationship we could only talk on facetime if we could see each other's lips moving if we were on the phone it just we were like what anyway she got pregnant after two months so probably would have been better if we could have had a chat um but to answer your question though so yes you can use i mean it's like do you remember the bit that you did about the guns like you can use a gun no if you could refresh that's how we came to know about you by the way so no yeah yeah your husband told me about you about me to you several times

now you just hurt his feelings the next room is gonna yell at me like no i knew about him i don't know that's that's it do you ever go back to australia with him do you like australia australia um yeah it's all right it's a bit too hot in it bit too hot i've gone off track yeah i guess i think the question with the like the black market i got a lot of questions from people that i asked where it's just like um hey how do you even get to the black market and do you have a website for that um and also if if people if it's not anonymous and people can see a track of everything you've bought like what's the point of any of it like like if if you just had to open up your amazon order list to everybody like that just i

don't that doesn't seem ideal yeah so i don't like that about venmo i've had to put a block of that i had it for a year people were knowing what i was spending me venmo on people like oh someone has a dog walker it's like so many payments of just eight balls yeah he loves pool there's this one there's this one guy i keep on paying 420 bucks to and there's just a picture of an eight ball emoji skis oh i'll tell a quick story i will get back to bitcoin in a second i'll tell you a quick story so there was a girl i was dating who was like uh this is about 11 years ago and she was like uh she was in playboy a couple of times i think that's fair to say i went and visited her in las vegas and we went to uh the

pinball hall of fame which has all the pinball machines at that stage there was the new version of the indiana jones movie just came out the crystal skull had just come out so you can date when this this happened right and inside the crystal skull pinball machine is an eight ball multi-ball right where all the balls come out like that i played and played and played this machine until i eventually got this eight ball multi-ball then i went back to this girl's house now she lived with these other girls who were like waitresses by the swimming pool at the mgm and all this other stuff and playmates and all that type of stuff they didn didn't want to borrow me. They didn't think I was interesting at all. Right. And I come in and one of them walks in the kitchen and she goes,

so how's your day been? I go, my day's been great. I got an eight ball like that. And then they all came out of their bedrooms just all of a sudden, they all just came out and started paying me attention. And then I was like, just chatting. I was like, these girls find me interesting all of a sudden. And then one of them goes, you got to share it with anyone? I go, oh no, it was a pinball thing.

And then they all walked back and I haven't seen any of them again. I see my errors. Sorry. Yeah, sorry. I was in the middle of a very long talk. So there was something though, and that called the Silk Road Marketplace.

I think that's why people associated Bitcoin specifically with buying drugs. It seems like it was mostly buying drugs, and there might have been some porn or something like that. But I guess you could have also hired people to kill people. I always heard that. I don't know if that's real or not. How do I hire? I always think that. I was watching a movie the other day with a hitman how do i find someone to kill someone i've got a few people on my list how do i how do i organize that you just ask around a seedy pub

or because everyone in a movie has like a silencer and they're like i'm a hitman all that type of stuff and every time i see it on like dateline it's always like then she asked her friend terry yeah terry has the intellectual the iq of 70 and terry's like i'll kill someone for five thousand dollars right he's like i want one of those movie hit men how do i buy one of them bitcoin she's like well again i'm an expert on cryptocurrency yeah yeah i like how like you so if you guys could stop fucking asking me these questions, that would be greatly appreciated. No, so let me tell you this. Yes. So to answer,

just straightforward, yes, you can use Bitcoin as well as any other currency for illegal activities. I just searched it. Around $72 billion worth of unlawful activity per year involves Bitcoin.

So there you have it. You can do it. And in the past, it was worse. The world is, I don't think it actually exists anymore because it is becoming more regulated. So the regulations around it is kind of good. And I know that you kind of just brought up a fact that, OK, so what's the point? So the point, I want this to actually

be like you understand what the real value of Bitcoin is. One of them we talked about was that it's decentralized. So anyone, so for example, again, this is more global. You were talking about, oh, I have to go to Australia and have to exchange. And for me, a lot of it, like the political issues that it resolves is awesome. So for example, from America, I cannot send money directly to Iran because of the sanctions, but I can send Bitcoin. And from Iran, you can send the Bitcoin to Israel, which again, they don't have it. So peer to peer, if I'm in here and my mom and dad are in Iran, and then we have relatives in Israel, we can actually exchange value or something like money using Bitcoin.

Another one is that it helps, it's a huge help for the unbanked and the underbanked. Now, what that means that even in America, about 33 million people are unbanked or underbanked, which means that banks, first of all, maybe they're immigrants or they don't have Social Security or whatever. So they cannot have access to a bank account. They cannot use credit cards. have access to a bank account. They cannot use credit cards. They can't use any of that. But they can have their pie of the economy with cryptocurrencies. All they need is a smartphone and a connection to the internet. But to that point, isn't Bitcoin or crypto kind of inaccessible to most people because of the cost of it? Or am I misunderstanding that? But you can buy portions of it. No, you can't buy portions of it. You don i a misunderstanding you can buy portions of it yeah oh you can't buy the whole bitcoin yeah so let's say you had you you didn't have a lot of money instead of like check cashing stores are notoriously for like charging fees and like taking people's money stuff like that so if

you had a bitcoin wallet instead and you got paid for bitcoin and and the people that you said that are unbanked that can't have a bank account or for whatever reasons or don't have enough money for certain things, that there's this option. Absolutely. I think in India was it that there are more smartphones than there are toilets. So people can actually, and people in India,

a lot of them have- Wow, they have seven smartphones. That's not a good advertisement come to india come to india there's more smartphones than toilets we eat with our hands actually it's just everybody shits into john mcafee's mouth well you know what you're saying earlier about how like it doesn't matter because if you do illegal things there's still a trail not maybe not a paper trial but you can still see who spent the Bitcoin or the cryptocurrency or whatever like that.

You know what doesn't have a trail? Pebbles from my yard. I don't know if I can sell these enough to you. You will never get caught. Pebbles from my yard. I've got them. You want them. Come and buy them.

They could trace back to which landscaping company sold which pebbles because they were mined in a certain area Forrest, why do you always have to crush Jim's dreams? Pebbles for my yard That's some BS science chit-chat coming from him I don't buy it Jack's trying out a new character He's real personality

Kiana, we're going gonna start to wrap this up here but one thing that we wanted to do is we at the end of our discussion of the topic we have what we call dinner party fact um where we give our listeners and watchers at home uh some fact that's obscure interesting or that they might not really that people might not really know so they can impress people with their knowledge of cryptocurrency. So if you have anything that you could tell us that you think might be cool for this. Sure. So one of the things that I found interesting is that there are more millionaires in the world than the total amount of Bitcoin. That means that there are not even enough Bitcoin out there for every millionaire in the world to own one.

Right. So it's very rare. It's not rare enough to where, yeah. Yeah. So it's like if you're a millionaire, if you don't have your Bitcoin already, and if you don't have it in the next 10 years, you probably won't have one.

So that's one. And facts about Bitcoin. Let's see. I think that's a good one. I'm going to go home, buy one, and put my wallet in the fridge. What did you say? What is a hodl? Hodl?

Hodl? H-O-D-L. Oh, that's a thing that Jewish people find at Passover in a drawer or something. That's a dreidel. Dreidel, dreidel, dreidel. Oh, my God. Like you said, English is his first language, so feel free to judge accordingly.

A hoidal? What's a hoidal? Hoidal. No, that's what a southern people says, a low with a speech impediment. No, no, that was the guy in Game of Thrones. Hoidal. Hoidal.

Oh, no, no, no. Hoidal is what a mentally challenged person says to slow down their horse. Hoytel! Hoytel! What? What? Mentally challenged? No, because he's trying to say, hey!

And he goes, Hoytel! No? Yeah, I don't think that's the one. Would you like to know the meaning of Hoytel? If you can find a better meaning. Sure. So HODL means hold on for dear life. So basically this became popular first because somebody mistook hold,

mistyped hold when it came to Bitcoin. It was like hold Bitcoin, hold it long term. But then it just became one of the common lingo in cryptocurrency community, which means just buy cryptocurrency and hold on to it. Don't sell it. So get a Bitcoin, don't sell it. First, you got to buy it, Jim.

You don't even know. All right, I'll listen back to this podcast. No, I mean, having a positioning is not bad either. I mean, if it does go back up to $20,000, then there you have it. You have a $10,000 valuation. But I prefer to actually have it in my wallet. It just comes...

It just sounds weird if you were told, I have a position on some Bitcoin. It just sounds... That's what trading and investing is. You take a position. Is it almost like a stock option? Yeah. That's how it is. It's like that's what trading and investing is you take a position is it almost like a stock option like yeah okay that's how it is like a stock option gotcha i mean on robinhood when you actually buy stocks you hold the shares but with bitcoin you actually don't hold bitcoin so they had to come up with a solution for that gotcha good all right well um i feel like we learned

something did you learn something jim i i didn't didn't, but I believe if I listen back to the podcast, I will. For me, taking all this information in on one shot, it's a lot. Yeah. It's like I watched a lot of documentaries three times, and then I go, oh, now I get it. Yeah. I feel like there was a couple of aha moments. No, no.

I didn't know there was a limited amount of Bitcoins. I feel like there was a couple of aha moments. No, no. I didn't know there was a limited amount of Bitcoins. I didn't know that the mining had to do with math equations that were getting harder and harder and harder. And that explained to me why I had the power. So, yes, I did actually learn a lot today. Yeah.

And also, you don't actually own the Bitcoin. I own the value of a Bitcoin. But now you can go to an ATM and get one. All right. Kianaiana danielle thank you very much for being with us um uh you can find her at investdiva.com and also um at invest diva across all social media platforms i don't know if there's anything else you would like to say before you leave or anything um yeah i'm not just a crypto lady. I can teach you about investing in other assets too.

But yeah, thank you so much for having me on. It was super fun. Oh, thank you. You're a good laugh. Thank you for coming on the show. We appreciate it. Thank you. Okay, so now we're going to do this part.

And by the way, Kiana, you can stay on the line if you'd like, if you don't want to. At the very end of the show, we have a couple of segments. One of them is called I do know about that. And we, we, we asked him three questions about something that he thinks he does know

about. And we see if in fact he does know about it. And you've mentioned this several times, Jim cat house cats, house cats. Yes. Yes. They exist. this several times jim cat house cats house cats yes yes they exist i'm gonna ask you three

questions about common house cats and see if you know okay the oldest cat on record was named cream puff from austin texas how old was cream puff uh well cats now live like 20 years and sort of average now they used to live a lot less when i was a kid they were like 15 now they go to 20 so i'm gonna say that i'm working out more i'm gonna say yeah maybe maybe diet's better or the medicine we're giving them or whatever um but i'm gonna say the oldest cat was 37 and cream puff stayed that way because of the how he got his name it's very good for the skin and and his owner was very abusive wow this is cream puff was 38 wow wow all right cream puff lived from 1967

to 2005 and died three days after her 38th birthday wow the things that queen puff saw queen queen puff saw the beatles last album and 9-11. That's a lot. And you were right. A cat typically lives up to 20 years, which is equivalent to about 96 human years. So Queen Puff, I'd have to do the math there, but was probably almost 200.

Okay. Why can't a cat climb down a tree face first? It comes from the term scaredy cat. They don't like to see the ground as they hurtling towards it. No, it would be, it was something to do with the moviture of their bones because they climb up with, it would have to do, it would have to do with it. Did you say moviture?

Moverture. Moverture is a word, right? Yeah. Yeah. Yeah. Yeah. It's because their elbows. You're almost right there. A cat can't climb head first down a tree because every claw on a cat's paw points the same way. I wasn't close at all. He said elbows.

It technically was about the muvature. So you were right. They have to go backwards down a tree. I'm being dead serious. Muvature is not a word? No. The muvature of the human body. Moverature is not a word? No. The moverature of the human body? You can't say moverature?

No. Give them what they want. Now you have two cats, Jim, correct? Yeah, I do. So do they rub up against you? I'm sure that's happened before. They do. One of them likes me a lot more than the other one.

One of them cares not for me at all. Why are they rubbing up against you um uh well because i'm masturbating and i'm holding them there if there was ever a meow to me. Get what I want first. Meow to me. So the cat rubs up against people, not only to be affectionate, but also to mark its territory with scent glands around its face. So they're marking you.

That's what cats are doing. You got one out of three. You don't know shit about cats. Thanks, everyone. Bummer, bummer. Well, good night, everyone. If you're at a party and someone comes up to you

and they say something that you don't know about, just go, well, I don't know about that and walk away. Hey, everybody. Jason Ellis here from the Jason Ellis Show podcast

reminding you that my podcast, new episodes every Wednesday, downloadable where all podcasts are available. Come see my friends, Michael and Kevin, as we talk to you about what's awesome, what sucks, fitness, fighting, parenting, life, spin kicks, LGBTQ community, how to defend yourself against a shark if it attacks you out of nowhere, and much, much more. So come join us.