# Cryptocurrency Introduction Course — Community Organized, Live at ETHChiangmai

Date: 
Source video: Cryptocurrency Introduction Course — Community Organized, Live at ETHChiangmai
Drive: https://drive.google.com/file/d/1qxAmLFH6ZrZYW-NdBT94F4BCpOuzNw0u/view
Duration: 02:03:19
Transcribed: 2026-07-27 · deepgram nova-3 · PIT BULL harvest fleet v3

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[00:00] Also, we'll go live streaming on the x by yay. Hi. It's to my x account. And if you guys enjoy, I can also follow our our our x. And let's move to today's guest. And today's speaker is York, and he's the Planck contributor and then cofounder of seven seven AI. And we have another speaker later on that is Peter, where he's a Bitcoin OG, and let's move to York.

[00:29] Test 1,000,000,000, 2,000,000,000. Okay. I'm York and, yeah, it's nothing, important to interrupt me. So let's go to the topic directly, maybe. So today we're gonna talk about, you know, cryptocurrency. And, it's very boring topic because, we have discussed it like maybe 10 or

[00:58] ten, twenty. Not yeah. Not not not sure. Ten twenty, but fifteen. Right? So years to talk about that. But but it's kinda like a recap and summarizing or general generally speaking. And for one thing, it's like we're gonna talk about a lot of coins. For example, first, we start with Bitcoin.

[01:23] Don't don't buy it. Don't do you get it? Don't buy it. Or you do your own research. Do you get what I mean? Because we we gotta measure a lot of. For example, like a Bitcoin. For example, like Ethereum. For for example, like, Avalanche. Right? BNB or, I mean, like like a lot.

[01:47] But the problem is, like, if you don't, understand it, if you buy it, you're gonna losing money. That's the problem when we, like, want to, teaching other people to about the cryptocurrency. I don't want to pause you guys losing money, so don't buy it. Is I will mention a lot of odd coins, for example, like

[02:13] for example, like, for For seeds, maybe we we gotta have some kind of, you know, coin. If you don't understand, if you don't you don't know what what we are doing, don't buy it. So that's a very simple one. So that's like the deep culture of like a Bitcoin or cryptocurrency. It's like do your own research. Because you I

[02:39] mentioned those coins just to give example or just to explain what I'm thinking about it. It's not a means I'm holding it. Of course, I'm holding like Bitcoin and Ethereum, but but the problem is, like, you don't you don't understand. You you you just don't buy. So that's where for one thing. And the second stuff, like, about cryptocurrency is, like, I wanted you guys to know before I interact on that is, like,

[03:04] I would just it's a very huge topic or a huge thesis to, think about it. Because in my point of view, it's actually the cryptocurrency is like the basic infrastructure, economic basic infrastructure of the global economic, the ecosystem. So it says infrastructure. But the problem is, like, it's so broad. So I I can't I can't cover every,

[03:30] you know, interesting topic. So I I I have to just to generalize it or summarize, to give or some of the detour maybe, hopefully, and it gave some kind of a, common, commentary, like views on some, specific I found fundamental basic and, for you guys to know. And,

[03:53] and don't view my commentary to be true or not true. It's just like the first one. Do your own research. Because, for example, like, for for example, I'm very bully on the Bitcoin. But, but maybe maybe you don't have to. Maybe you you are bullish on other coins. Right? So, so that's, first things you should know about cryptocurrency.

[04:18] First, don't buy. Second, don't buy, and, we can start. Today, we're cover, like, three or four four topics. Three of them are mine, and one is from Peter. Maybe you can yeah. Peter. So our first one is, like, about Bitcoin.

[04:44] First one is, like, what's Warren Buffett got right and wrong about Bitcoin? Mostly, are discussing here is about your intrinsic value. Because, like, if you were thinking about the investment of just like Charlie Muncker said, there is only one form of, like, investment is, like, core value investment. Because, like, if you do if you don't invest in value, what do you invest on it? So

[05:13] so when we talk about, you know, value invest investing or value investment, we have to think about intrinsic value because, majority of the crowds, you know, the investment, community, they think that, bitcoin and gold, space fake. Yeah. These two set of asset. They don't have some kind of intrinsic value

[05:36] or they are not what we call, like, productive yeah. The second one is like the utility, the Bitcoin's user cases in the global economy. Good.

[06:02] Hello? Oh, okay. The third one is, is, like, explain why that this asset, for example, like a Bitcoin or gold is the so called monetary all floor, the rear, blah blah blah blah. Yeah. So we start with, like, like,

[06:26] Warren Buffett. Yeah. This one I like the most. Yeah. We can watch it together. The computer science is behind is behind Bitcoin. You agree? Triumph is going fine.

[06:50] That's what capitalists tell these people. They've actually created a product that's hard to create more of, but not impossible. Now that is very peculiar, but they've managed to do it. So a lot of the computer computer science people love it just because it's such an extreme achievement of computer science. I, of course,

[07:14] have no interest in in that because it's not my subject. And I see an artificial speculative medium that people are buying just because they think they can sell to somebody else at a higher price even though it inherently has no intrinsic value. So I don't know if the whole business is antisocial, stupid, immoral.

[07:40] Immoral? Yes. How's that? Why? Why would you trade suppose you could make a lot of money trading freshly harvested baby brands, would you do it or would you say that's immoral? You wouldn't trade them, would you? Too it's too too too awful a concept. Well, to me, bitcoin is almost as bad. It it's not having any desirable social purpose.

[08:08] We got that. We got WeChat in China. The efficient payment system. China doesn't need Bitcoin. And if you have a WeChat, why would you do it in a medium where the value changes enormously? Nobody is right. Mine was one of the payment system

[08:36] of the day. Don't regard the thing as a don't regard the thing as a combination of dementia and immorality. I think the people that are pushing it are pushing it are disgrace are disgrace. Last be some things that are breaking up. You just don't do. You just don't do. And and this is one. And this is one. We did not need a gold certificate.

[09:01] Gold certificate. I mean, a gold substitute. I mean, a gold substitute. Like this. Bitcoin. Bitcoin. Bitcoin. Bitcoin. It's worthless artificial gold, which if it succeeded, would facilitate a lot of illicit activity.

[09:26] Now that is not something I think the world needs. And the fact that it's clever computer science. Or just for checking, but I don't think necessary, but, for joking, it's everybody knows who this guy is. Right? Charlie Munger. You don't know? Oh, really? Okay. So,

[09:51] I think maybe the second one, you you definitely know. Not definitely, definitely, but, Okay. Maybe this one. At one point this weekend, you said that Bitcoin and this was based you were asked Charlie said Bitcoin's like rat poison. You were asked about that comment, and you said, well, it's probably more like rat poison squared.

[10:17] Charlie went on in the meeting to then basically call Bitcoin turds. He he is an expressive sort of thing. Maybe when he gets a little older, he'll immature. I just wanna ask you about that because it sparked so much controversy and, particularly on Twitter and some of the places where you might expect people who are trading in in cryptocurrency, to be pretty,

[10:41] loud about what they heard. What what is it about Bitcoin that gets you guys so fired up? Well, when you buy a farm, you look at the crop every year and and what prices are, and you decide whether it was satisfactory investment. I mean, you you look to the asset itself and what it produces for you. When we buy a business, we look at what the business burns and decide how we feel about it in terms of what we paid. But we are buying something that at the end of the period, we not only have what we bought in the first place, but we have something that the asset produced.

[11:13] And when you buy Okay. This old fellow, I mean, I do do you guys know about him? Oh, okay. Good. So finally, I found some guy you guys knew. Nonproductive assets. All you're counting on is whether the next person is going to pay you more because they're even more excited about another next person coming along. But the asset itself is creating nothing. One of the interesting things,

[11:43] for example, is gold. If you go back to the time of Christ and you look at how many hours we had to give up in order to buy an ounce of gold and you take it forward to now, you'll you'll find the compound. Right? Maybe a tenth or two tenths of 1%, you know, and and then you have to insure it during that time and make sure, you know, somebody doesn't steal it from you and everything. But it doesn't produce anything. And

[12:06] productive assets, you may have you can pay too much for a productive asset. But I bought a farm in the nineteen eighties, and and every year, look at how much it brews the way soybeans and corn. And at the end of that period, I've still got the farm, and I've gotten some significant income off of it, apartment house, operating business.

[12:29] But, if if you and I buy various cryptocurrencies, they're not they're not gonna mobile pot. They're not gonna be a bunch of rabbits sitting there in front of us. They're just gonna sit there. And I gotta hope next time you get more excited after I bought it from you, and then maybe I'll get more excited and buy it from you. And, actually, we could we could sit in the house by ourselves, and we could keep running up price between two of us. But at the end of the time, there's one Bitcoin sitting there. Now we gotta find somebody else. And and they come to an end. I mean, those So, yeah, that mean that's a greater fool theory. That's what you're saying? Well, yeah, it's it's it's it's buying something because you expect

[13:03] the pool of people who wanna buy it because they wanna sell it it to somebody else will grow. And and and it's it's wonderful because it does create a rising price does create more buyers, and people think I've gotta get in on this. And and it's better if they don't understand it. That's the other thing about not if if you don't understand it, you get much more excited than if you understand it. I mean, if you buy a bond that says she's gonna pay you 4% a year, you're not getting any pleasant surprises.

[13:32] She's going to pay you 4% a year. But if you if you you can have anything you wanna imagine. If you just look at something and say that's magic. You can do it with shark's teeth or seashells or or anything. And, you know, they did it with tulips in in in the seventeenth century in in in in Amsterdam, and and and they'll do it again. I mean, people, they like to speculate. They like to gamble. And,

[13:57] if you can get something, particularly if you had something half plausible going on. Mhmm. If you had bought gold in 1942 and you say, we might lose the war. We might have to run off to some other country and, you know, so let's put our assets in gold. You would have less than a penny for every dollar you got from owning stocks. Less than a penny. Now if somebody calls that a store of value, I mean, I think they're delusionary. Okay.

[14:23] Andrew has a question too. Andrew. Hey, Warren. Related to this, issue of Bitcoin, you saw that Goldman Sachs just last week announced they were gonna, create a, effectively a trading operation around cryptocurrencies and Bitcoin in particular. You've been an investor, in Goldman. What do you think of their decision to do that? Well, they probably think that lots of people are gonna get very excited about well and,

[14:49] maybe already are, but they they think there's money to be made trading them. I don't think they're expressing an opinion on the ultimate value. I would be very surprised if the top partners of Goldman are are are selling their About five years ago, we asked Charlie Munger. We were sitting right there what he thought of Bitcoin, and he said, rat poison. Yeah. Back then, it was about a 100 plus dollars per Bitcoin. Today, it's 9,000. Is it still rat poison?

[15:24] Well, it probably rat poison squared. Okay. Good. So Hello. Yeah. So yeah. So I I think yeah. If you're if you're interested in, this topic, like Warren Buffett and Charlie Munger say about Bitcoin. It's all on YouTube and you guys can and our browsing. I don't know. So I'm not,

[15:49] know, to go into, like, play that long. I think it's long enough. So it's a rat poison. Right? So we're talking about this kind of rat poison, a little bit now. So what's mister Buffett right about, you know, this rat poison? One, it's, yeah. For sure. It seems like it's not so like a productive asset.

[16:16] Of course, you can, you know, you know opposing on that idea on saying that are they actually have some kind of, using it as our collateral like asset. Right. So that's one thing. And another thing is about to the Bitcoins like, yeah, of course. And gold, they don't produce anything too

[16:40] coincidentally. Yeah. Because yeah. For example, like, the same things miss Prophet said about this poison rat, rat poison blah blah blah. It's the same thing like he said about the goat. He said, okay. If you if you give me like the qubit of the gold, like, years before, it put here. And like,

[17:05] ten years later or a hundred years later, it could be could be of gold like right here. Right? It didn't produce any other gold because right. It's gold. Come on. So and also, like Bitcoin, it's the same same stuff. It's like if you give me some, part of, example, like, hundreds of Bitcoin here,

[17:28] in my wallet. And, a hundred years later, it's 100 Bitcoin. It don't it don't it don't come growing and, it don't deduct. It's just the same. So so that's one thing. Yeah. He's right. It's not so productive as we know about it. And another stuff is

[17:53] he's right about, you know, this poison rat or rat poison. It's like it's like it only can be using it only can be using if somebody else value it. I don't know if I explained this clearly, but,

[18:17] he said that, okay. If you sell me like all the Bitcoins for $25, I won't take it. Why? Because I have to sell it to the next person who are waiting to offering, like, more price that they want. So so what he write about that is that is like, yes.

[18:40] This Bitcoin or gold is only like the human beings valuing them as such or you have no value at all. What I imagine on the island, for example, like far distant from here or mainland anywhere, for example, like, say, in middle of the ocean, like, have a very long distance, like, from the borders.

[19:03] Right? There is no value like, gold and bitcoin there. Literally nothing because there what we need is like, is food. Right? Because you you're gonna you're not gonna survive, like, seven or ten days if you are without the food on a long distance island. Right? So food

[19:27] and, shelter. Right? And clothing, blah blah blah. There are no need for gold or bitcoin. So that's what him is right about that too. A third way he is right about this rat poison is like it's, he's also mentioned it

[19:50] as some kind of blockchain technology breakthrough, but he didn't believe in, of course. But he knows that he's some kind of technology break breakthrough. That's, I think, those third things, he's right. Okay. We're gonna talk a little bit maybe I'm have a huge respect on this, you know,

[20:13] human being, but, human beings can be like, wrong about something. Right? So we can talk about a little bit about something maybe is not right. Okay. So one thing is, yeah. I think he use his own word is much more much more efficient. Becky, you're next.

[20:45] This question comes from Scott Williams in Portland, Oregon. He said, do you think the net benefit of Doge will be positive or negative for the long term health of The United States? Well, why don't you give me a hard one? I think that I think that bureaucracy

[21:09] is something that is amazingly prevalent and contagious even in our capital system. And that big corporations, you know, overwhelmingly, most of them look like they could be run better. I'm sure Berkshire does in many way many respects.

[21:34] And it it you know, and and government is the ultimate. So it it it it it really doesn't have any checks on it. And that's why it scares you to some extent about about what the future of the currency will be because

[21:58] they can print currency. And and if you have people that get elected by promising people things, and that doesn't mean that that they aren't sincere about all kinds of items. But there's no politician that says to anybody that, at least if they have money, that, you know, I really think you have bad breath. And if you don't mind, would you step over and away from me? It just doesn't happen. They

[22:30] and so I I think the problem of how you control revenue and expenses in government is the one that is never fully solved and has has really hurt dramatically certain many civilizations.

[22:53] And I don't think we're immune from it, and we've come close to it. But if you tell me how in in a democracy, you go in and really change things, you know, we're we're operating at a fiscal deficit now that is unsustainable over a very long period of time. We don't know whether that Maybe I need to give a little bit context

[23:18] about this video. This is actually Warren Buffett, you know, comment on the USD. United States Dollar. So, yeah. So the USD is dollar is backed by, you know, there is bureaucracy called United States of government stuff stuff. Yeah.

[23:41] Means two years or twenty years that because there's never been a country like The United States. But, you know, that if something can't go on forever, it will end, the quote of Herbert Stein, famous economist, and we are doing something that is unsustainable.

[24:03] And and it has the it has the aspect to it that it gets uncontrollable at a certain point. I mean, essentially, you just give up on it. And Paul Volker, you know, kept that from happening in The United States, but we came close. We've come close multiple times. And,

[24:29] you know, the we still had very substantial inflation in The United States, but it's never been run away yet. And and that's not something you wanna try and experiment with because it feeds on itself. So I I wouldn't want the job of

[24:52] of trying to correct what's going on in revenue and the expenditures of The United States with roughly a 7% gap when probably a 3% gap is sustainable. And then the further away you get from that, the more you get to where the uncontrollable begins. And

[25:18] I I I think that it's it's a job I don't want. But it's Yeah. So, you know, the the government of United States, we we are not I think maybe we are not allowed to talk about the government here, but, I think we are allowed to talk about government here. You're far away. But

[25:44] so the government of United States, they solve everything by by what? By printing money. Right? They solve everything, like, by printing money. Okay. I want to wage a war against Iran, against Iraq, against, any country I want. What I do? What I need want to what I need to do? What I need to do is printing fucking money to

[26:10] invade in that kind of a country. So so that's one and only and a very efficient solution for every government. It's not just like United States or American, like, they are printing money to invoking, a war. Of course, like Russians. Right? They're printing money

[26:33] to invade Ukraine. Right? Simple solution. Why not? So that's where mister Warren Buffett said. Simple solution. Why why not? And the doge, they tried to stop that. They said, okay. That's enough. There's so much bureaucracy and, you guys doing don't know what you are doing,

[26:56] so stop. So what, you know, Elon Musk's doing now? He's, like, going back to his company. Right? Do do you get get what I mean? Because he can't stop the government printing money. That's very simple. What are you holding in your hand about USD, USD

[27:19] is printed by the government. And everyone like Elon Musk or miss Warren Buffer want to stop that, he will be the, you know, disaster situation. So that's why, like, Elon Musk, going back. So that's a whole story. It's very simple. So he think mister Warren Buffet said, okay,

[27:43] Bitcoin is like the the the rat poison. Right? I agree with you. Okay. The second, you said about, you know, The US United States, United States, currency like USD. You said, okay. I have no facing in that. So so what we can do about those kind of, you know, economy

[28:07] ecosystem? We're gonna have some currency. Right? So here's the problem. Here's the problem. That's why we have so many years like gold. Gold has current currency like or rather assets like for so many years. Right? And it's still as there's some kind of currency or

[28:30] reserve asset now. It's because, like, if you printing money on the paper, it's very easy to do. And, if you are elected president or you are dictator, like, I can't say China because, I'm Chinese. But and also,

[28:53] it's very easy to printing money. That's the first first stuff. It's like bureaucracy. The second stuff is like, it's a nature of capitalism. So the capital what what is our capitalism? Capitalism by nature is like allocation of resources within this society.

[29:16] I mean, that is like it's control it's not controlling, adjust to the economy by the the price values. Like a like a cup of coffee, if if this cup of coffee are in demand, the price will rising. So so people are producing more. Right? So if, this demand is less,

[29:40] so the pricing is down, so people are producing less. So I I think it's a basic economic serial blah blah blah. Yeah. It's controlling by this this kind of stuff. But by printing money, it's got distorted this price value adjustment because you're putting a lot of money on that. So

[30:04] this price, we're going down, but we're still needed. So yeah. So you can see this kind of distortion button. That's not a point I'm talking right now. But the problem is like, it's a the capitalism is like allocation of resources by like adjusting the price, adjusting companies, it's a survive or not, blah blah blah blah blah, all those stuff.

[30:29] And we got those like people or, like, organizations are playing very well, and we got people who are loading in this game. Right? So there is, by definition, is, like, successors, people who are succeed in this market economy and the people who are losing in this market economy.

[30:54] So what we can do about, you know, those people, like, in the bottom, they are losing in this game. For example, like, who are who are succeeding? Yeah. Warren Buffet, Elon Musk, trap. Right? They are succeeders. But we got losing we we got losers. Losers are no. Not loser losers, but we're losing in this game.

[31:20] They have to have the right to survive. So what we can do about their surviving, this this this stuff is called like, it's core actually, our it's got just be reviewed like yesterday or the day before. Yesterday, it's called like employment rate. Employment rate. So people are loading this game. They are loading their jobs. They are loading their incomes. Right?

[31:47] So what's really important about, you know, this politic situation is called like employment rate. So what we can solve about the the employment rate is by printing money. So this this solution is very it's unique. It's the only one, but, it's very efficient, and it can solve everything.

[32:11] If you wanna work, you're printing money. If you want if you want a bit more like, you know, decreasing on the, increasing on the employment rate, you're printing money. So if you want to, you know, more money, for example, like the relatives of the president, you if you want them to be rich, yeah, you print your money and send to them. Yeah.

[32:34] It's so simple. So those, so I think you gotta get what I mean. It's very simple. So first self is like this kind of for centralized bureaucracy have only one measure. And second is like the basic of this kind of world can be came to be effect

[32:58] is by providing the basic need for the bottom. Not bottom bottom, but by the income bottom or job losing people, they are surviving money. So that's why we gotta have some kind of money printing. That's why we gotta have some kind of inflation.

[33:26] So by mean that, it's like we gotta have some kind of value decreasing on the faint. That's my point. We've got to have some high value decreasing on the USD. It's because it's backed by the nature of government. It's backed by nature of the society. It's backed by nature of the economy.

[33:49] Right? So that's that's going back to yeah. We talk about a a lot about, you know, the I'm not just, you know, opposing of, USD. Actually, I love USD. My bet is actually running in Africa. You're also using USD. I love USD, but, yeah, let's let's be frank. Let's be frank. But now let's go back to the, you know, Bitcoin.

[34:16] So what is Bitcoin? Bitcoin is actually some kind of backup plan for currency. That's it. Why it can be or some kind of backup plan? Because because for one thing, they don't have some kind of,

[34:39] inflation. Right? Because Bitcoin only have like well, how much that? Is that a 2,000 blah blah blah? 21 Yeah. 21,000,000. Million. And, majority of them actually no. Majority. Some of them actually already been missed. Lost. Lost. Most. Okay. Already lost. Okay. So that's one thing. We can't printing

[35:03] Bitcoin as much as we want it. Right? In the hard cap hard cap. So that's one thing. Yeah.

[35:48] Don't buy it. So yeah. That's a that's a key point. Don't buy it. So, so one thing is like, about Bitcoin, you can't print it. But it's not like it's it's not like every coin. For example, Ethereum, you can print it. Actually, they are printed every every day. Now and then, it's like, be because, the mechanism is a little bit different or hugely different,

[36:14] hugely different. But but but yeah. But we trust, like, Bitcoin, it can't be controlling and it can't be, at least it can't be controlling to printing. Right? So that's one thing. Another thing is about to the Bitcoin, it's like, it's yeah. Of course, Warren Buffett is right. So

[36:38] you got choosing some kind of productive productive asset like stock. Like like like a land, like a real estate, like like this this house. Actually, are losing money on this real estate. But yeah. But but it's it's productive. It's productive asset. But but but but we are losing actually money on this. Yeah. This this

[37:04] this this house. I I I don't know if I'm allowed to say that, but yeah. He's right. You you if you want to hatch hatch or or hedge. How how do I explain the hedge? The concept of hedge. If you want to hedge inflation, what do you need to do?

[37:27] For example, you need to buy maybe a little bit of gold. Right? Because it's against offer. It hatched some kind of inflation. Maybe you buy some kind of a productive asset like this one. Right? And they're losing money. So or you'll buy some kind of a stock. Yeah. Of course, stock is some kind of, you know, a protective asset. Because behind every stock, there is a company. And if you have a full

[37:53] investigation, full research on that company, for for for example, like a couple of years before, buy Apple and Navadia. Oh, what's that? NVIDIA. Yeah. Yeah. I bought I bought that a couple years before. But it's a little bit difficult for you to to do some kind of, investigation and

[38:17] research on that kind of company. For example, like, Nvidia. Actually, I bought that, like, almost at the same time, like, Bitcoin, like, six years or oh, 06/07. It's 2018. That's in mid year? In mid year. Yeah. Both That's a good time. Yeah. That's a very good time. That's what I'm saying. Actually, I also bought recently, like,

[38:45] like, two or three years before. That's also a very good time. I always buy in the dip. But the problem is, like, this NVIDIA company is backed up by the chips technology. Right? It's very hardcore. And, although I'm some kind of artificial intelligence engineer,

[39:08] but it's very hardcore for me. You know how to manufacture manufacture on the semi semi chips and why those GPUs are good, why those CPUs are good. And although I I actually using the CUDA, I'm like, the ecosystem of NVIDIA. Like

[39:31] but the problem, like okay. If you're if you're thinking, okay. I mean, like, if you're thinking, like, choosing company is easy, yeah, you're you're some kind of a naive. For example, like, I I never make a lot of money, like, on the immediate because first, the cheap technology is very hard for me.

[39:54] I I frankly speaking, I I I most I from, like, back then, I almost take half a year to learn about I try to learn about that. Semiconductor blah blah blah blah blah blah stuff and do some kind of research. But but it's hard for me, actually. Frankly, I I never I never go to understand the the basic

[40:19] knowledge about the how how we can, like, call GPUs? Like, semiconductor chips or Semiconductor. Some Yeah. That's

[40:44] one worry. And second is, like, why they're why they're much better, like, than their competitors in this Yeah. Yeah. The mode. Yeah. The mode. And, why they're much better than their competitors. That's one thing. In technology, I can't understand. That's one thing. Second

[41:08] is why how their cash flow going through their company. For for example, like at Nvidia, I know that they sell a lot of to Oracle. They sell a lot of to Microsoft. They sell a lot of open AI. Right. I know about that. So what's the contract? Can you show me the contract? Because I I also

[41:32] start off a company back back back in China. I mean, like, okay. Yes. Your business is very good. I know about that. You sell or you sell a lot of chips to, like, OpenAI. Right? For example. And yeah. You're right. But but can you show me, like, the the the contract or or any proving stuff?

[41:55] Can for me, it's actually because it's b two b business, it's very hard for me to understand and trust that, what's really going on in there. For example, like, I investigating this company, I said it's, like, seven or eight years before almost.

[42:19] But I never understand that, like, those bit is how it is going on. And so on the third part about the media, of course, we are not talking about media, but let me finish quickly about your question. Second is, third part about the media, I don't understand is like is supply chain. The supply chain.

[42:43] So, for example, okay, I know that this company, is called, what, blah blah blah in Taiwan. It's good. It's the best. Right. Yeah. You're right. So why it's it is the best? Why are choosing them? Why are you not choosing like, I don't know, Intel? Intel. Yeah. Why you're not choosing Intel? Or why you're not choosing like other suppliers?

[43:10] There's a lot of questions I don't understand. So yeah. So I I I so I just sell it. So it's hard for me, and, I I can't understand it. So I I don't I I just sell it. I don't buy it. So that's that's more much more easier way for me to to to do that. But for Bitcoin, I mean, like, okay, he's right. You should choose like productive asset,

[43:38] example, like, in media or Microsoft or Apple. Okay? But it's hard to investigate all those all those kind of companies. Me, it's very hard to to understand their technology, their their their business, their their supply chain or the blah blah blah, all those stuff. And, majority of them actually know that exposure or know that review

[44:02] according to the glor, actually. So so that's one thing. And compared to that, Bitcoin is much clear. It's all written in the white paper. It's all written in the code. And it's all it's all there. Right? So so there is no conceal or there is no there there is not much to review or or exposure or or I don't have to describe it. I mean, like, it's all on the blockchain. And if you want to know anything, you just check. Right? So

[44:38] that's that's called like automated transparency. And that kind of transparency, it's not, you know, the attributes owned by other so called productive like this one, productive asset. Right? For for example, like, okay, you want to buy some kind of a protector asset like this one, real estate. Okay. So you have to check

[45:06] how many customers going here, what's like this spot looks like at this location, and how the hotel looks like, how the the the coffee that it looks like, how's how's the the co working that it looks like. Right? It's hard. So it's hard for me. I mean, I not not hard for the

[45:31] operators like this space. So yeah. So it's that that's going back. So so that second stuff is like he's right. If you have some kind of business to run yeah. It's better. It's better. And if you can understand some kind of a company like an a media, like,

[45:54] like any company, like, it's like, in the second, in the stock market. That's right. You just go for that. It's too good. And but I believe that majority of the crowds, they don't understand. They they don't they don't need to they their life don't need have to be like the businessman or their life don't need have to be here or a stock picker or

[46:25] like a like like a investor, like like a profit monger, so like that. So what are they gonna choose? So this my solution is, like, choosing gold. Yeah. You can buy gold. So and, and, the better one for me for me is like Bitcoin because it's obviously, like, against today,

[46:49] the inflation stuff. I don't know if I'm what's the time here? It's 03:48. Okay. I think, I don't have much time. So because, later, he will get a presentation about, later on. And it's okay. I don't think

[47:22] yeah, maybe about the second topic, I gave a little bit. Understand. Okay. The second not second. The other idea is

[47:45] wrong about mister buffer is like he's thinking like Bitcoin have no utility or no using at all. It's rat poison. But, yeah, I'm show you some utility or usage of the Bitcoin. It's a clear it clearly have some kind of usage,

[48:08] but but maybe it's not the that, the area you like or it's not the area of course, it's not area like, mister, Warren Buffett like, but, but still, it has some kind of usage. Politically, I'm not a very big fan of either the banks or Federal Reserve, and Bitcoin allows me to get around that. One of the programs we support is a protocol called TOR.

[48:35] And, basically, what TOR does is it allows you to communicate to a website anonymously. TOR is a program that allows you to get on Silk Road. And this is Silk Road. Basically, any drug you want is available. There's a lot of weed. There's a lot of cocaine. There's a lot of ecstasy. But there's also unusual drugs, like if you want some sort of anabolic steroid, you could type steroid.

[48:57] You'll get all the different types of steroids that are available. Silk Road itself is not selling the drugs. This is basically a matchmaker between buyer and seller. Both the buyer and seller don't know each other. Both the buyer and seller are anonymous. It goes on this web of trust. If you want to, let's say, buy this testosterone, you click on this. He has 99.3

[49:20] positive feedback from more than 300 transactions. So even though the contracts aren't enforceable by law, the reputation system makes it so that the the system works pretty well. Oh, there's a fireworks section now. I didn't know that. Florida ID, 1.88 bitcoins, is around a $150, something like that. A forged auto insurance card.

[49:44] Forged passport. There was over 9,000 entries for drugs. That's a lot. I would say there's around maybe five customers that know about it and use it. It's it's a very small percentage of the people that come in. But the people who do know about it specifically come here to use it. What the customers do with the computers is pretty much their business.

[50:09] I'm that day in the office. If you're gonna do drug dealing of any sort, Silk Road is the place to go. How many people are selling cannabis right now? It looks like 2,011 people are selling cannabis. They call me mister Bitcoin. I probably been dealing drugs because I was, like, 17. Right now, I'm 26. I

[50:32] think it's as a a global thing when I'm on the computer. I'm doing business with the world. Let's see. They have blue drinks, R Diesel, pineapple, Thai, purple cush, girl scout cookies, purple haze. When I first heard about it, I was laughing about it. It took me a week to just even think about this for real. Like, I can really make money off of Internet selling this type of stuff on the Internet. You sure about that?

[50:56] It's something I probably may buy right here. They have little ice and good cush. Some of these things only take, like, a day to get here with no harassment from nobody, instead of just being on the streets. Once you get the hang of it, it's actually kinda fun just looking through different things. Mister Bitcoin, I'm running with it. I like the name. You know what mean? I'm not gonna lie. I get booty off this. I kinda like talking about this stuff with girls. Like, girls like that shit hot. And, like, you're on your street, and you got a little nerd knowledge. This is great.

[51:29] I have, like, a lot of Bitcoin saved up already. My business is doing good. It's a fun way of doing hustling these days. Like, the future bring a different way to hustle, and I like With so many people using Bitcoin in so many different ways,

[51:57] it's becoming apparent that it can't be ignored. Okay. So, this kind of for user cases, it's not a maybe it's not accepted by everyone, but the key point is here is, like yeah. You you there's go to, like, use in the drug industry. Yeah. So called industry. And

[52:21] I'm not support of that. And there's gold using that. There is US dollars, like, using on that. There is, like, Bitcoin using on that. There is just, for me, it's just this kind of currency suggest a tools or anything. It's like, so we're talking about the intrinsic value. The intrinsic value for me, it's like Bitcoin. For one thing, it's like, okay. A lot of people actually

[52:45] based on that, they are getting richer, richer and richer and richer, blah, blah, blah. So so it's, some kind of a fun toy, maybe Bitcoin fun toy, you know, loving by the rich guy. Like those ones. Those ones actually this documentary is, like, ten years before or

[53:08] ten or eleven or twelve. Not so sure. Maybe maybe you guys can check on that. So that's one thing. It's like hello? Second one, it's like and the very basic one of the intrinsic value of the Bitcoin, I'm thinking it's like it's a the whole replacement

[53:32] on the paper money or the paper based economy. I think I already explained that. Yeah. So many times I I don't want to repeat, but it's a replacement. Maybe it's not a very good replacement. Right? It can be using in the drug betas. Right?

[53:55] But but but it's a replacement. For example, like like some some schools of the economy theory, they are they are saying that, okay, the heavy metal like gold are replacement for the currency and or the replacement. But I think it's better,

[54:17] using Bitcoin. But I'm not opposing like gold. For example, like gold actually are on chain now. Right? So you can use gold gold as some kind of a replacement, but a bitcoin is a alternative, replacement. So that's kind of in a value or intensive value of that kind of asset. Yeah. Third one is actually while,

[54:43] and it's, now it have have been like, more widely adopted. I mean, like, most of the people are more and more people are kinda using that, for sure. So I think that's some kind of a intrinsic value of gold, some kind of replacement

[55:07] of the paper money, and some kind of interest of man interest of value about Bitcoin. And about the usage, of course, the earlier days, it can be used. For example, like, in this scenario, it's like a drug business. And, I think maybe it's also happening here, like in Thailand. Maybe I'm not allowed to say that, but, and a second stuff is like

[55:34] this kind of currencies are actually in very serious inflation countries. For example, like, where I have been is a soft part of Africa is like Zimbabwe. The inflation rate is is phenomenal. It's like, for example, like, they are their their their currency is called bond, bond, the

[55:57] that that word. So, the bond, for example, like, it's worth $1. For example, like, if it is, like, worth $100, like, today, tomorrow, it gonna be, like, worth, like, $1. I mean, a dollar dollar, a USD dollar. I mean, like, today, for example, at a bond, one bond equals like 100

[56:21] USD. And, tomorrow, it'll go 100 equals like 1 USD. So it's it's it's like that kind of situation. So everybody, like, in, like, in Huawei, like, when I, I think it's due now, but they are changing the currency, but I think their currency going the same way with the the last bond. But when I, living, like, in the bad way,

[56:47] what we can do about that? First, we're keeping, like, USD in cash. I mean, the USD is not like the USD USD or like the USD currency, like, you know, refreshing new paper money. It's actually it's like a thirty or forty. I'm like three o and a forty or forty years before USD.

[57:11] Like, so many years. It's like, circulating in Zimbabwe. So you are keeping that. And if you would dare to put your USD into bank, okay, you are doomed because the government's because several times the government said, okay, those USTs

[57:34] are actually national reserves. You know, allowed you to take back your UST. So what what are they gonna do? They only can keep their UST in their hand or their home. And, what are they gonna do about, you know, leaving or eating or, clothing or stuff? They have to changing,

[57:57] their USD. Of course, The US the the USD within their country is not it's forbidden to be circulating outside of their country. It's forbidden by the law. So it have some kind of an underground market. So I mean, like, you have to exchange your USD to the bond and then using the bond to buy bread or

[58:23] anything you need to eat or buying some kind of but in series, a little bit more value. But it's for example, my business is a phone business. I sell phones, second time phones, phone accessories. Originally, I also sell. I by I, I mean, like, my company. My company also sell a starting accessory

[58:46] device. Okay. So when I sell those stuffs, I only sell in, like, USD. Why? Although it's been printing a lot, but USD is much better than bond. Right? So if I want to sell any serious stuff, any serious stuff, for example, like, there's a rent, you have to be paid by USD.

[59:10] The the salaries, they only accept the USD. And, if you want to sell, Apple, I mean, like a Mac or phones, you have to sell in USD. Otherwise, you are doing. So in that scenario, like, so USD in cash, that's one option. Another option is like,

[59:35] USD, USDT. Right? So that's why we are selling USDT and it's a very good business also. It's an alternative like, cryptocurrency. So unlike in those kind of countries, cryptocurrency also act as some kind of replacement of your same cash.

[59:59] I think I'm already making my point. So that's another usage. And also, I don't know if you guys know that. The the Chinese government also like buying some oil from Iran using Bitcoin and gold. You can check on our lines and, yeah, you can check it everywhere. So, and also, for example, like the Russian government are selling their oil

[01:00:23] for bitcoin. So that's that's what we kind of or like or maybe there is a little interesting topic, but that is, like, okay. The Bitcoin goes up and down the volatile. How we can sell that for for Bitcoins. The the the solution is actually very simple. It's called a margin hedge.

[01:00:48] For example, you sell me something for Bitcoin. I send you Bitcoin just to do some kind of margin hedge, and you maintain that some type of value. I think that's easy to understand. Right? I'm not so sure, but but it's okay. I mean, like, there is some kind of a solution, like, financially, in the traditional world or in this world, in the modern world that you

[01:01:13] can sell you can use those kind of one tile, like going up and down asset as a currency as long as for example, like, the future market, they are selling the stocks and and the weight or no. No. Let let let's not go deeper on that. It's a little bit complicated to explain, but yeah.

[01:01:40] And I think I already made my point, and let's welcome our next, collector. How to play my slides?

[01:02:11] I I think I think Yor just did a great job because I'll I really enjoy his style of being really cheerful and relaxed. And tech can be boring to some people. I hope my talk will be fun. Yeah. Oh, hopefully, no nobody go to sleep. Yeah. A quick survey here. How many of us here

[01:02:36] are coders, developers? Raise your hand. Come on. Alright. Alright. Yes. Why is the bar bar like a bigger picture stuff? Right? Take. Yeah. It's not go we got not going to details like coding, anything. And, yeah.

[01:02:59] Why? It should be like why tech favors liberalism. It's like, when I first got into this, area of crypto, people tend to argue a lot about, I favor I really like liberalism. Some people are more on this conservative side, more of mainstream idea. They argue with each other. I find that boring.

[01:03:26] You know? Boring. Because because, like, as a engineer myself, I I only believe if some invention come into this world, it has to be productive. In this point, I think Warren Buffett make a valid point. Yes. Even it's not productive, it's no value. So anything just like you buy and sell, that is just nothing but speculation.

[01:03:53] Yeah. So I'm Peter, and my hanker name, Internet handles, and happy Peter. And I'm a I'm a coder. If anybody in here knows GitHub, I'm used to have 6,000 folders on GitHub. That means I'm really into coding and really into tech right now. Yeah. I've been, like, lazy for the last, like, a few years. Now now I have four

[01:04:21] four k followers. Still have four k followers? Yeah. Still good. So yeah. Just like I want so so my whole goal for this talk is like I want everybody understand. It's not that like people, like, random that choose their political belief.

[01:04:48] It's well, I want to make I provide my perspective is that with evolution of technology, liberalism will naturally become more popular, yeah, from, like, a niche area become popular. I hope I I don't think that in this small talk, I everybody can be persuaded,

[01:05:13] but I hope everybody understand my perspective. I will offer the clue to get really into this perspective. And you guys then might take, like, one or two years if you all guys really want to do your own homework and finally be convinced about about my,

[01:05:37] the kind of the whole idea I'm talking about here. Yeah. So I think, like, everybody loves stories. So it's my talk. It's a kind of organized around the people and their stories. So it it can start like a it is so maybe for non tech people, it's hard to kind of correlate

[01:06:01] my talk to cryptography, but it it's actually my talk is all about cryptography. But, behind that, I mean, liberalism, cryptography, this all behind that is kind of what what's behind that is not companies.

[01:06:23] It's something called community. So my whole idea is like a a crypto and, yeah, the whole idea of some bigger voice of liberalism doesn't come from no nowhere. It's been supported by important tech people for the last at least half century or so. It is it's been a really exciting

[01:06:50] trip. So if we want to talk about why modern tech, so called high-tech, we what is the beginning of that? Maybe many people will think, ah, RLAN tooling is a kind of the father of modern technology. Yeah. Does that make sense? RLAN tooling from England. Maybe, some other guy. But,

[01:07:13] for me, the the there's kind of, like, high-tech and Internet start from this guy. Yeah. Anybody here actually know this guy? Ken Thompson? Okay. Hey. He's a guy he's a creator. I will for tech stuff, since you you guys not into really into tech, I'll I'll make it really short. This guy is like the inventor

[01:07:37] of a system called Unix. And Unix is the system that's kind of start the movement open source. Without Unix, there I think it's very hard to to have the movement called open source in the soft software world. And, yeah, I want to mention little bit about his his words and work. His work is about Unix. And later, he he he worked at as a scientist in Google, had created another

[01:08:10] programming language named Go. But that's his work. But once he side he side with his partner, Dennis Ritchie, something like, what we wanna build is not just a computing platform, but also a community around this platform. So mind this word, community.

[01:08:35] Yep. So, Linux, Linus, his name full name is Linus Towers. He's from Finland. So if you guys want to learn the whole idea about open source, he's maybe the most important guy. Yeah. Even more important than the than Kent Thompson because he is a creator

[01:08:58] of Linux operating system. If you guys don't think you use Linux a lot, you're wrong because, like, Linux is now the it's a system run on all Android phones. And the Linux also powers Internet in the sense that I don't really catch the number, but around 90% of the web servers, that's Linux.

[01:09:25] The system operating system, Hayroad, and also the supercomputers, the world's most powerful supercomputers, like seven, eight up up to the top 10 runs also runs Linux Linux operating system. But here today, don't want want to talk a lot about Linux operating system. I want to talk about another of his inventions and called Git.

[01:09:51] Git. And Git actually it's really a dirty plug from from my own experience. I from the introduction, everybody know I I got I got Bitcoin early. That kind kind of lucky. But how I got lucky is because of him. Because I I I really enjoy using Git.

[01:10:15] I I was supposedly, I was one of the first teachers, like, do teaching Git as a software manager tool commercially in China, like, back around the time GitHub was founded. Yeah. 2009. Yeah. Around that time. That's super early. So my point is I'm really like the software named Git.

[01:10:41] Yeah. Named Git. But somehow, like because I did did deep research on Git, on architectural Git, and turn out that the the the history on the Git is doing version control. Every version of the software software, in this sense, it's just kind of like a a set of files, a software project.

[01:11:03] But every version of your software is kind of a a just the go goes really like each block of a blockchain. You know? Blockchain, you know, from the name you guys know is a it's not just a set of blocks, but it's auto chained. You know? Chained means that the later block has a pointer to the earlier one.

[01:11:30] That's how it's changed, you know, by by a hash key, by a hash. And gate knows that exactly the same. Exactly the same. Yeah. Gate has different versions. Each version has a has a pointer. Yeah. Basically, it's a hash from the early version that's stored in the later version as a pointer to the early to the to the early version.

[01:11:53] Yeah. But anyway, it says because my understanding of a gate, like, I I it was really for easy for me to understand the the whole tech architecture of of Bitcoin. And that's how I got I got got in early, and I I was super lucky. A story is a lot was like a first

[01:12:17] that's why that's why I really encourage you encourage you to go to into this community thing, know the idea of hankers. Because, I will tell you a story about how how did I I I heard of Bitcoin for the first time. It it was, like, 2010. I think maybe just a few months when when Bitcoin really got online.

[01:12:43] I checked a website, but it's not just a website anybody will allow to visit. It's website named the Hanker News. Anybody heard of Hanker News? Oh, come on. Yeah. That's right. That's alright. I I even made a copy, you know, another code from I like the website a lot. So it's like a you guys you guys are if you really really need to want to know, like, a blockchain,

[01:13:13] crypto, Bitcoin, Ethereum, I highly encourage you guys to to learn more about open source. Yeah. Or learn learn about the hanker so called the hanker community. Yeah. Yeah. That's that's Linus and and Git. Yeah. This guy is the the

[01:13:36] arguably, the the the founding father of Internet because he co authored that protocol named anybody know know the protocol behind it Internet? The most important one? Yeah? W w w No. That's not that that's right way on top. Way on top. That's from from web. You know? He he didn't yeah. Yeah.

[01:14:02] It's a different layers, but he he invented the most important layer. Yeah. It's called TCP IP. Yeah. I think everybody knows it now. But I also encourage you to check about this handsome handsome dude and his speeches. And and the point is, like, Internet doesn't comes from nowhere.

[01:14:26] Open source and this whole community thing doesn't come from nowhere. It's from a community ethic. It's the the belief that the human deserve freedom, and human can get freedom through the development of technology. Yeah. A lot of my friends are

[01:14:49] anti tyke. He saw the tyke destroys everything. The progressive industrialization destroy everything. I'm against their opinions because I whole wholly believe tyke is there for people, by the people for the people. Right? Things like that. It's type favors everybody, individuals. And the Internet is extremely

[01:15:12] is dream example of that. Yeah. Let let me give me give you example. It's also related to why why Bitcoin is productive. It is a it's a valid very, very real story that's known by everybody. That story is about email.

[01:15:37] Email. So, I mean, before email was invented, so how we mail from, between each other, especially when I when I I want to mail to a friend is far away, probably in other country, that can be a huge project by itself. You go from the hierarchical

[01:15:59] structures of of of institutions with physical trucks, physical buildings. That's very expensive process to just mail one simple letter, for for example, from China to United States. It's expensive. Yeah. It's a even it's at least in China, it's a government

[01:16:22] government endeavor. It is a it's just like a if not millions, like close to 1,000,000 people work in the system. It's it's a lot of cost for the people. But when email was invented okay. Nowadays, we use it. Yeah. Whatever way. Better than the email. But when email was invented, this problem solved. Yeah. In a very cheap way. In a very cheap way.

[01:16:49] Why? Why why it gets cheap? It's it's it's like the same like like a Bitcoin. Yeah. Being cheaper means, yeah, email is productive. Right? Pro produce value. Right? Produce value. In the same sense, Bitcoin provide provide value. It's like we email, which is based on this API IP. Right? What invented

[01:17:15] emails, just the basic structure runs on p r p two pure way p two p way. Right? Some makes it possible to finally remove the whole hierarchical structures. In other words, remove we don't need the big rather anymore. That's my whole point of this today's talk.

[01:17:38] With tech, the involvement, evolution of tech, sometimes, not not not maybe for some things is hard, but but in many area, we used to believe it's very necessary to have a big web browser, for example, to control the currency or do do the mailing for everybody. It used to be necessary

[01:18:02] to have a big brother, but now it's possible with technology. We can just remove this big brother or in other words, the third party. A big brother used to it tend to be just a function like a third party. Yeah. It's a better name for big brother. Third party in the sense that it doesn't try to control you.

[01:18:25] It doesn't try to do evil, but it's just like third party, like Wall Street for the most history. Wall Street, like, has its as a financial component, this can be useful. It's yeah. It's a contributor, as I will say, a lot to the to the movement of The US industry and the world economy. But is it really necessary today?

[01:18:49] With today's technology, is this possible to do a new way of finance? Yeah. I'm not saying it is Bitcoin will replace Wall Street. I mean, there is a possibility. You're right? From the the historical license of email. Right? Email replaced traditional mailing system, which which were very expensive.

[01:19:12] I still remember when I was young, my my cousin was in I I I was learn go to school in China. My father was in learning in in The US. I tried to make a a phone call to him. It's not mailing, but the same idea. Make a phone call to him. It was super crazily expensive, like, thirty years ago. That that was super. But today, with with the Internet, same idea as email, it it is essentially free.

[01:19:40] Right? It's possible. Yeah. You remove the big brother because big brother need to survive. Just they need to make a living themselves even though they are they're not corrupted. But most times, they just but very big institutions, they tend to look corrupt. Yeah. Yeah. I mentioned this guy. This guy's I mean, all the pictures I show you, this guy's I I tend to call them the founding fathers of Internet. His this guy's also very important in my point of view.

[01:20:14] He's a founder of the incubator called the Y Combinator. And when he retired, another guy we meet is more more more popular called the OpenAI. Now CEO was Sam Altman. Yeah. Sam Altman is the successor of him, yeah, of Y Combinator. He's before the guy before Sam

[01:20:43] Altman. He's important in the sense of that, he he authored the web a web app named the ViyaWeb. ViyaWeb is maybe it's controversial, but I will I will consider it as the first, at least, serious web app web app than ever existed. Yeah.

[01:21:06] Later, he he sold via web to Yahoo, had become financially independent, and he he founded Y Combinator. And I mentioned him because together, I want to mention another guy called Mark Anderson. Mark Anderson, I'll also, he's a he's a right now, still working. He's a he's a like, the boss of another

[01:21:32] venture venture capital named a sixteen z, and it still is very active VC now. And Mark Anderson is also very important for Internet because he's was the author of Mosaic, which was the first widely adopted Internet browser. Yeah. The Mosaic.

[01:21:57] These two two guys, they actually collaborate. I I know. Even before Bitcoin, before blockchain, I've been following these guys for, like, around two years at that time before that time point, around around ten years. So I know those guys. I love those guys' ideas. And but around the time I

[01:22:22] really start to buy Bitcoin, right before, actually, maybe a bit later, this him and Mark Anderson, they co cofounded a block, Bitcoin exchange named Coinbase. Coinbase is now still one of the biggest Bitcoin exchange in the world. Yeah. Maybe it's next to to to Binance, the second biggest.

[01:22:49] Yeah. So my story is like, okay. I've been following these guys for around ten years. I mean, as a 10/2010 2013. Yeah. That's the time I started to buy Bitcoin. So, you know, I've been following these guys. I really thought those guys are important for Internet

[01:23:12] and also important for even for my personal career. I trust those those guys as a as my my mentors. They're they're truly my mentors, my role models. So if they are kind of really get their their hands dirty on Bitcoin and blockchain, Maybe I want to get involved too. That's why I I start to buy. You know? It's still the idea, like, people trust people.

[01:23:39] They will be in trusting for a long time. It's not like you step into this area and people say, ah, something is worth worth investing. You just do it. It's like it take many years to build up the trust. Yeah. That's my personal, plug. And, yeah, we're getting closer and closer to

[01:24:03] to the crypto to cryptography and and the the idea of cyberpunk as a whole liberalism, history. And this guy is a I will call it the father of cyberpunk. Yeah. He said John Gilmer. If you you guys don't do coding, maybe maybe these terms doesn't really

[01:24:26] ring a bell. So he's he's the founder of, Electronic Frontier Foundation, which is a very important, foundation for early days of, free software movement, cyber, freedom of speech, cyber, like a like a yeah. So libero

[01:24:49] reason idea place, Electronic Frontier Foundation. If you guys want to check the history about crypto, the website is worth, recommending. And he's also authored a important software called DHCP, which is important for Internet. He also build RFC

[01:25:11] nine fifty one. So I also once early days of a free software foundation project named the Glue Debugger. Yep. But maybe maybe yeah. You you guys just just do your homework. Yeah. Okay. The final guy, John Barlow.

[01:25:36] I put this guy at end of my speech because he's he's not even a programmer. He doesn't do do a lot of coding, but he's really into this cyber freedom area. He's he wrote a important paper. I will call it people he call he call it, like, the declaration of independence

[01:26:00] of cyberspace. And the idea being he divided the the world. At that time, he he already passed away. By that time, that's world in the late in late nineties, still in late nineties, last century. He divided this world into two space. Before Internet, there was only one space. That's it's called what we are living the real world. He he he he calling it, like, meat space because we are meat. Right?

[01:26:32] But with the invention of the Internet, there is another space called cyberspace. Base basically, people nowadays give give fancy names to this to this cyberspace, and they made, like, a MITREWS, like a like a even like a Virtu Nation, Virtu country, Virtu continent, like all fancy name, but they're all very cool. I I really enjoy the idea.

[01:26:57] But the point being, what used to be necessary in, in the meat space, I mean, most likely, he's talking about the laws and regulations may or may not be relevant in the new world of cyberspace. Because because let let me give you

[01:27:19] maybe a very obvious example. In a in a niche world, in physical world, it's possible somebody, like, get to your door and hurt you you or your family physically. Right? Physical harm. But in cyberspace, everybody does IDs. Right? Posting their random IDs. So it's not possible. There's no meat, no flesh in cyberspace.

[01:27:43] So that is still necessary to have, like, a police to protect you and your family? Obviously not. But that's just a extreme example. Turn out that in cyberspace, if cyberspace become true, which means everybody can talk to anybody in on this globe, like, freely, They talk. They share political opinions. Is it to organizations.

[01:28:08] They do business with each other. So in that world oh, they also build. Right? They build. In that world, does the the old day regulations, government thing government laws, even values, morals still apply to this new world. A lot of them needs to be changed.

[01:28:32] And it it's it's been like from nineties to today, it's been like almost thirty years. Right? We we just say, like, cyberspace grew bigger and bigger. So people spending more time on their cell phones. People build more digital stuff on their cell cell phones. Even NVIDIA has the idea of digital twins. Means in the future, in every industry,

[01:28:56] before you build a machine, a car, you build its digital twin first. May basically means, like, you you you you do the digital version of the actual product first. Yeah. This is the help of AI and everything. And, anyway, cyberspace grow larger. And the the the but the problem is in in cyberspace,

[01:29:22] still a lot of, old time traditional laws try to regulate this space. And his opinion is that's just that's just stupid. That's just stupid. Yeah. He he said he I I will call him. He said, on behalf of future, please don't use your regulations on us,

[01:29:47] which means cyberspace. You are not welcome here. That's from his his paper. Yeah. The declaration of cyber of independence of cyberspace. Okay. So that's that's mostly what I I have in mind for for my talk. Yep. Yeah. It's what it's it's my talk is about why tech favors

[01:30:12] liberalism. Yeah. Thank you. Yeah. Would I love to to communicate. Right? You any anybody wanna ask something? Yeah. Yep. Are you famous women? You know you know, for at the beginning, I I said that maybe for

[01:30:35] the for the idea of the area of headhike, who will be considered as the first person? Right? I mentioned Alan Tulling. I mentioned Ken Thompson. Right? But some people believe it's a it's a lady who started this. And his name her name is Ada. Have you heard of him? Yeah. Yeah. Considering widely considering the first programmer. I mean, even earlier than that.

[01:30:59] Very early. Yeah. True. True. Is there, like, some yeah. I I don't I don't remember. Was there, like, important cryptography people who are ladies? Yeah. But yeah. Yeah. So if you have no questions, that's it. Thank you. Thank you. Oh, I'm sorry. We we are not finished. So

[01:31:35] hello. One meeting. Two meeting. Okay. So maybe a little bit, some commentary, towards his speech. Actually, what I want to invite him as a speaker is, like, the importance of those guys

[01:31:59] is because if you're onto choosing between, like, Bitcoin and Ethereum, actually, what he talk about is have not so much usage because, it's obvious it's obviously there. Because, you know, the founders, Satoshi Lakamoto and, the founder of the, of the Ethereum,

[01:32:22] alright, Vitalik, is it's whole tradition, spiritual tradition and the community tradition, the open source, the the the freedom, soft, free free software, movements, that kind of stuff. So, so, you know that those founders, Satoshi Okamoto and Vitalik is,

[01:32:47] on the history, long, long history, like back maybe back to ancient Greece, that kind of long history of, you know, people want freedom, how people how people are value freedom. Yeah. That That's that's my my Yeah. That's a key point. If you're, if you're you know, if you wanna know only choosing from Bitcoin or

[01:33:14] Ethereum, I I think what he present here is actually yeah. It's at least it's some kind of interesting knowledge to know because the founders of Bitcoin the founder of Bitcoin and I think Bitcoin's founders. Right? The founders of Bitcoin and the founders of Ethereum have some kind of culturally and technology derivative or

[01:33:39] inherent, you know, from those guys. And second, I think the majority of the the meaning of this his speech is that maybe we can moving forward. Yeah. So how we can avoid those shitcoins? Shitcoins like EOS. Right? The shitcoin like EOS.

[01:34:04] Like Sheetcoin yeah. We have so many scammers, Sheetcoins in crypto spaces. So it's not only like EOS. It's not only like I don't know how to mention all those fucking coins. But, yeah, maybe the the the fucking coins called Trump. So how to avoid those fucking coins?

[01:34:29] So local look looking at those guys, the spiritually, the culturally, yeah, and the technology. So you can, you know, identify, okay, this shitcoin. This is her scammer. This, obviously so that's why I think this the value of that. And the second value of that is actually

[01:34:52] it's point out, actually, the the Bitcoin and Ethereum, all those cryptocurrency, so called cryptocurrency, it don't need to be, like, came in present or don't need to be exist. It's because, like, the only reason why those cryptocurrency or Bitcoin is serum,

[01:35:15] those kind of fucking stuff to be exist is because all those people or all those government or all those fucking big tech company, they are try to steal our freedom. They are try to steal our freedom. So by so by people who want

[01:35:40] freedom, is not that, we are want to use that freedom software. It's not what we want to use open source. It's not what we want to use Bitcoin or Ethereum. It's those fucking people want to steal using it technology way, using it science way to steal our freedom. So we have to have some kind of tools

[01:36:08] to against that. That's the central point. That's why all those guys matters. Yeah. So that finish the explanation. But another stuff is I like, about these courses is actually it's not it's not important that what I'm thinking about or talking about well, it's not important what he's talking about or thinking about.

[01:36:34] We just gave you some kind of a prompt. All those, like, for example, like, things like in the poster. Yeah. So, like, the things in the poster, those are prompt. Do do get it? So for example, like, you can, you can, like, I I can can show you how to use of this prompt.

[01:36:57] So you don't have to learn from from me or him. You just learn from from, for example, like, chimney or chat GBT because all those things actually is from Internet. I'm not I'm not originally thinking anything. It's just as a it's there. So I I gotta show later, I I I gotta show you how to use that and and I'll give you some recommendation

[01:37:19] on the, books we think is very important for you to understand bitcoin and, cryptocurrency. And, another stuff is, some documentaries are very important to understand bitcoin. And, also, he gives some guides to understand Bitcoin, cryptocurrency. So yeah. So the about the prompt part is very simple.

[01:37:43] It's like, the, the Internet. Okay. Oh. Oh, okay.

[01:38:10] Oh, shit. But I I think this one is same. By the way, you can buy ChargeGPT actually use Stablecoin. So, yeah, if if if it is interesting for you to know about that. And okay. Let me check. For example, like,

[01:38:35] you you want to know something about this topic. Yeah. For example, like, if you want to know about this topic, you just copy it and

[01:38:59] and I put it here. This one is charged GBT. Right? So blah blah blah blah blah. Yeah. You can say it's very accurate. It's just what I'm saying. It's like, okay.

[01:39:25] Produce no gains. So pay no dividend and have no claim of future blah blah blah blah. Yeah. You can you can just and if you're interested in the specific, for example, why it'll produce no gains, you just copy and send. Yeah. And a Bitcoin. Yeah.

[01:39:48] Can I ask a question? Yeah. I mean, is Changi video on our side? I don't think so, but, but I can you can learn from that. What? I'm not so sure. But, you know, those because I'm also do some kind of, you know, I have a company, like, doing the,

[01:40:15] like, back in China. But your your question, is very interesting, but it it caused some kind of a human alignment, LIM. So if you are support Bitcoin, you if you are already support Bitcoin or cryptocurrency or

[01:40:38] or, like, Cypherology, that kind of stuff, or Cypherpunk. So the LLM will identify that and give you some opinions how to support that. For example, like this one. And if you are support of, like, Warren Buffer

[01:41:01] and, like, a mainstream, like, like, Wall Street, like, like, US government, like Charlie Munger or those are respective people. I mean, like, Charlie Munger and Warren Buffett. I don't respect of the government at all. But if you're support of that opposing point of view, the LLM, they will support you as well. For example, like, they were saying, yeah, Warren Buffet is right. The Bitcoin is a shit. And, you know, it's a it's a rat poison. Yeah.

[01:41:34] Why that? Blah blah blah blah. Yeah. So I think already, it's a human alignment. It's called a human alignment. If you have some kind of a strong view about on something, so they will give more evident supporting view and, you know, materials, resources

[01:41:57] to support that. If you're against some strongly, they will give something against that strongly even more. But you you can using that as a tool to learn anything, but you don't trust it. You don't trust what they gave you. Because we're doing actually, you know, I am like back in, mostly majority are actually in the, medicine,

[01:42:20] medical area area. It's have serious, like, alignment problem as I mentioned it, and it has some illusion, and it's very serious, like, misleader, informations. But I can learn from that, but you have to have some kind of a double check. That's the thing. And the second stuff is like

[01:42:44] yeah. I'm trying to teach you using the prompt. And the second stuff, like, you can using like like this one. Yeah. Like this one. And and and and yeah. Because I already checked before

[01:43:08] the answer. But you're barely using, not using the quick one, use some some kind of a deep research one, and they go give you abundant information, you know, several aspect. So for example, like this one. Yeah. Forget on like like this one, losing monetary policy. Right? You can you can go further on that topic.

[01:43:35] And and if you ask go, if you say it, credit expression. Yeah. That's very, very good. But you go you can you can go deep on this topic and to see what's already there on the Internet and try to understand it like this way. And I think I already made my point. So that's one thing. Another things like

[01:43:58] yeah. It's sorta Some books recommend on, how you can, you know, understand a cryptocurrency, bitcoin, blah blah blah blah. For me now now for me now is actually cryptocurrency equals Bitcoin, plus a little bit like Ethereum or plus a little bit like exchange.

[01:44:23] But but, obviously, no other shitty coins. I'm not all the altcoins are shit, but what I get get what I mean is, like, cryptocurrency cryptocurrency equals Bitcoin plus a little bit Ethereum, plus a little bit maybe, crypto exchange.

[01:44:47] Yeah. But definitely not other coins. Other coins are shit. So I and if you don't understand Bitcoin and even because we have a little bit, you know, livestream audience like the n r. So it's very serious. Like, if you don't understand Bitcoin and you don't understand it, don't buy it. It's simple. Don't buy it. It's shit. So and another stuff is, like,

[01:45:16] helps you to understand that kind of stuff is, yeah, books. So, yeah, this one. There are some books I think is very important to to for you to understand to

[01:45:39] for you guys to understand Bitcoin and a cryptocurrency is so first one is like this one. On the duty of civil disobedience. Yeah. It's written by a philosopher philosopher like I think it's American philosopher. Yeah.

[01:46:06] This one. I think two hundred or three hundred years ago, like I'm not sure, like, American garment are existed back then, but but this philosopher, however, must piece oh, I think yeah. Yeah. American, garment already already there,

[01:46:29] I think. Maybe two or three, 2,000, 200 years ago, and this guy ever, essay or article called on the duty of civil disobedience. It's core it's it's teach us, like, how you can to be surviving

[01:46:52] individuals. Maybe yeah. Something like that. And why you shouldn't, like, collaborate with the government, something like that. Yeah. I think I think you guys can get the gist of that. And another stuff is like

[01:47:18] it's about books I recommend. It's like this one. The book of Satoshi, I don't have enough time to

[01:47:42] like, translate to no. Transfer it to, like, my laptop, but I can't maybe just read a name for you guys. The second books are recommended. It's like yeah. The book of Satoshi,

[01:48:07] the collected writing of Bitcoin creator Satoshi Nakamoto. Yeah. If you understand Bitcoin, yeah, you just find it the founder of it, the creator of it. The creator of it is Satoshi Nakamoto. You know, there is a book about him. His writings, he's writing in the middle list like a super punk. Right? And his writing

[01:48:31] his own writing, I mean, I I must have put some kind of emphasize on that, his own writing. Because majority of the opinions or so called Satoshi Nakamoto's opinions, so called Satoshi Nakamoto's articles are fake. Because, like, he's disappearing for, I don't know, maybe eleven,

[01:48:57] twelve. Yeah. He's disappearing for so many years. So a lot of people are faking him. He's like being faked by person. I mean, like, some people said they are situation like a model. Actually, they're not. And he's faked by the opinions because they said, okay. This is actually what a

[01:49:20] solution on the model. I mean, that the founder or the creator of the Bitcoin believes, actually not. And, of course, about about articles or and also because, like the deep fake, like, you know, the artificial intelligence, they create, the image of the Satoshi Komodo and, ringing something they want to propaganda or they run advertising

[01:49:47] actually is not. So you have to if you want to understand the Bitcoin, so you just go directly to Sadoshi locomotive. So so this books is a collection of a of traditional model. What's he really thinking or writing in the cyberpunk or psychology, mail list and, p two p foundation from and, also Bitcoin talk from. It's like the the book I'm recommended.

[01:50:16] It's a book of solution, the collective writing of the Bitcoin creator. So, you know, model. Okay. So this is one books, like, maybe you need to go. And, the second, third yeah. Third is like, yeah. It's a famous one. I think you guys already got it. It's the core mastering bitcoin. Yeah. So

[01:50:41] and mastering bitcoin. And they spoke is a little bit more, technical or related to technology, but but it's still good. Yeah. And, and, and the book's name is called, yeah, Mastering Bitcoin Programming the Open Blockchain.

[01:51:05] Yeah. The same ideology. Yeah. So that's books. And at about today, yeah. I only have, eight minutes. So in about something, you know, documentary to be recommended. If you guys interested, maybe you guys just take a picture.

[01:51:31] Our first one. Yeah. First one, I recommended is actually some one thing because Bitcoin is a scammer. Yeah. This one. Maybe we can say a little bit about this. I've I've I'm I'm in love with this guy. He's like saying he's like saying that Bitcoin is a scammer since like like eighty years ago. So eighty years ago, I mean, like, Bitcoin is only the value of Bitcoin is very low. But he's insisting,

[01:52:00] like, think Bitcoin is a scammer. Like, he ate or I I don't know if it is ten years, but the earlier video, he said that Bitcoin is a scammer. It's, like, eight years before. But I'm sure that he's against of Bitcoin, like like, ten years. I I don't I don't know, but I'm not I'm not sure for sure about this this video is highly recommended if you wanna know about Bitcoin.

[01:52:29] And I and I I couldn't help myself to be play a little bit about his recent view on Bitcoin. Why there is

[01:52:56] oh, it's okay. It's okay. Yeah. Where do I begin? A digital artwork by a relatively unknown American artist. Sold for nearly $70,000,000.

[01:53:35] That's more than most Picassos, Monets, or Warhols. But it doesn't exist in physical physical form. Form. It It is is only only available available digitally. Digitally. It's It's the first NFT ever sold at auction. Nonfungible token. NFT. NFTs or nonfungible token. Explain NFTs to people that don't know what you're talking about. I don't know what you're talking about. It was like suddenly the term NFT was just everywhere. Jack Dorsey, cofounder of Twitter, sells a picture of his first ever tweet as an NFT. Jack Dorsey auctioning his first tweet as digital art. $2,900,000.

[01:54:05] Even popular Internet memes were selling as this NFT thing. Nyan Cat, $590,000. Charlie Bit My Finger, $760,999. Disaster Girl, $500,000. Doge, $4,000,000. Overly Attached Girlfriend, $411,000. Bad luck Brian, $36,000, scumbag Steve, $57,000. You had singer songwriter Grimes selling $6,000,000

[01:54:29] worth of digital art as NFTs. People were changing their profile pictures on social media to NFTs that they had purchased. It was like flexing an expensive car or a watch. And then suddenly, all these big celebrities and artists and influences were also replacing their profile pictures with NFTs and announcing their own purchases of NFTs. And the apes, the apes were were part of this bigger project of NFTs called Bored Ape Yacht Club. I mean, you had Snoop Dogg, Eminem, DJ Khaled, Lil Baby, Post Malone, Stephen Curry, Gwyneth Paltrow to name a few. All of them purchasing these pictures of apes for sometimes hundreds of thousands of dollars. And amongst this sea of high ticket sales, you would hear that this is all part of something revolutionary.

[01:55:13] It's the biggest technology that's ever happened in the history of life outside of things like fire. Regardless of how much you knew about NFTs, there was one message that was really clear. Behind every story, every headline, there was an underlying premise. Something is happening, and there is a lot of money to be made. Imagine being able to build an app with your name on it just by thinking about it. It's hard on my name. Base forty four.

[01:55:39] Yeah. This guy is very interesting. He's against rights. So many years. Some some of his boy is actually very shocked. Talk show host, Jimmy Fallon. It's actually true. On his show with Paris Hilton where they show off their pictures of boarders. This is your this is your tape. Yeah. Okay. I think you you you guys got the gist of it. It's just actually, this guy

[01:56:03] is this guy is very interesting and and he's highly recommended. This guy. So I never met met him, but I know him for such a long time. And and you you can say that in his front page. Yeah. For example, like this one, he's right. They

[01:56:31] the FTX. Yeah. And a crypto, what I just play is the world's greatest scammer. Yeah. And the crypto is a cult of the dead stock. Very yeah. And and yeah, Bitcoin.

[01:57:02] Bitcoin, the future, all the world's greatest scammer. Yeah. So those are very great videos because part of it, what he's saying is ask is actually true. And, for example, like this one. It's very interesting to learn about. It took Bitcoin twelve years to become a trillion dollar network. By sarcastic

[01:57:25] way or irony. I mean, like, what he's thinking about, some aspect of our Bitcoin or some aspect about, some guy in crypto world is actually true. For example, like, if you are just printing NFTs to sell, you sell you said you're believing

[01:57:48] cryptocurrency or you're building in cypherpunk. Yeah, you you should go fuck yourself. Worthless artificial gold. I must say I bought some, and it's my best investment. It's I'm not bullish on Bitcoin and I like the best money currently available. Because it's decentralized, it cannot be stopped. The main motivation is for the price to go up. They don't use it. They don't transact in it. They just huddle it, and and and they're hoping they get rich. And what's your response to that? People not using the credit and just huddling it?

[01:58:34] A few months ago, I asked for your thoughts on Bitcoin. The responses I received were exactly as I was expecting. Most didn't understand it. Some of you labeled it a scam and others praised it extensively, saying it's going to be one of the biggest things in the future or that it's gonna make us question what exactly money and currency really is. You see, I avoided looking into Bitcoin for as long as I could, but there's only so many social media profiles with laser eyes in them that you can bear before you start to ask what exactly is going on here. And the more I tried to answer that question, the more intrigued I was by Bitcoin and the ongoing saga it's become.

[01:59:16] Take for example the fact that its creator, an individual or a group of individuals under the pseudonym Satoshi Nakamoto remains anonymous and unidentified to this day and is said to own 1,000,000 Bitcoins, which at the time of making this video makes Nakamoto worth over 60 Yeah. He's actually true about that Satoshi Nakamoto that,

[01:59:39] yeah, he centralized on that many Bitcoin. But, yeah, but the the the information, what he's saying is true, but yeah. But if you I don't wanna explain, but if you're interest interested in that, but you should go in further to

[02:00:03] to discover why is that and what's what's really happening like like fifteen years ago. And why is that and why we don't give a fuck about that at all. And but but that's that's information is true. That information is true that so those you're talking about those centralized control,

[02:00:26] so many Bitcoin. So, yeah, that's true. So and and don't get me wrong. I mean, like, it's not that it's not it's not like me or some of my friends thinking like printing NFTs or printing like so called crypto coins, a scandal or or a scammer.

[02:00:51] It's like, if you call yourself like a freedom believer, you call yourself cyberpunk, you call yourself like a cryptocurrency believer, and you're printing so much fucking coins and empty, and you don't feel a little bit obligation to that coin or to that empty,

[02:01:15] you should go fuck yourself. I think I should make it clear. It's not that doing that is not okay. Doing that is okay. So Telugu Sharma doing that. Okay. Metallic doing that. But the problem is like you doing that, you just want money and you are claim to be so called a cypherpunk.

[02:01:38] You should have to go fuck yourself. And the second one, is a lot about approve of Bitcoin. It's like Bitcoin, the end of the money. I think you just if any anybody interested in that is take picture and searching on that and

[02:02:02] this document is this one, I already I already play it. It's writing and writing Bitcoin, blah blah blah blah. Okay. I think yeah. I think it's the end of the lesson. Yeah. Okay. Hi, of course, those you're still here. I love you, you know. I I mean,

[02:02:26] I'm Peter. I I I think I I'll be yeah. I love this place, Fosys. If you guys want to learn about blockchain and Bitcoin, and I mean, really in detail, let's go just whenever I'm here, just come and talk to me, you know. I'm always enjoying talking about even the details. I don't mind if I take a pen and paper and then write it down

[02:02:51] and try to try to draw some graphs to explain you about the architecture and everything. Just come. Come and talk to me. I'm Peter. I'm Peter. Thank you. Talk to him. Yeah. He's a very nice guy. Not me. So I think it's the end of their lessons. Yeah.