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tv   [untitled]    August 20, 2021 11:00pm-11:30pm AST

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al jazeera ah hello, i'm marianna mazda in london, our main story this, our more gunfire has been heard and stung grenades used to push back huge crowds, gathering their cobbles at fort for a 5th day. thousands of people are that daily hoping to flee. afghanistan on the taliban rule, more than $800000.00 of so far been allocated, but tens of thousands left in the country could still be eligible. the u. s. a. nato pledge to accelerate a number of evacuations. but many afghans still faced major obstacles from taliban roadblock. to problems with paperwork, make no mistake. this evacuation mission is dangerous. it involves risks to armed forces and has been conducted under difficult circumstances. i cannot promise what
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the final outcome will be, what it will be that it will be without risk of loss. but as commander in chief, i can assure you that i will mobilize every resource necessary. and as an american, i offer my gratitude to the brave men and women of the us armed forces are carrying out this mission. are incredible. as we continue to work the logistics of evacuation were in constant contact on the tale bon, working to ensure civilians have safe passage to the airport. and nature members have been holding emergency talks on how best to help those in need. victory general again, stolen bug, told al jazeera evacuations might need to continue into september. we have communicated clearly to all of us that they should, provides a safe passage for everyone who wants to leave the country. and especially when enable them to go to the airport. so many dollars and especially in the
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states they have had, well, di will called abrasion all tactical compacts with, with all the bonds to make sure that that happens. we have seen some progress, but still it is a very difficult situation outside of the airport. it's very unpredictable. it's not actually one of the reasons it was important to have the meeting today to address these together as 30 allies and also listen to do not did states on all the laws who are on the ground. the cobbled airport rushes president saying the west should learn from russia's mistakes in afghanistan. i didn't pretend delivered the warning while meeting with german chancellor anglo muckle as john hall now explains . i've got to stand drives, if you like, yet another wedge into relations between russia and put a germany, putin and merkle. merkle is on her way out at the end of next month. this is a sort of farewell visit. they've disagreed over the years on a great many things,
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16 years. she's been in power. he's been around a bit longer and will be quite a lot longer. yet the reality is, and it is a deeply uncomfortable reality for nato allies like germany. they can no longer influence events, but in russia and china, certainly can they maintain their presence inside of gun extend? they maintain contact with the taliban and to the extent that i've got to stand is discussed at the table between these 2 that will be looking for mircle. perhaps we'll be looking for some basis a cooperation, some reason to see shared interests in co operating. and i've got to stand in order to try and get russia to influence the taliban again to rein them in, to prevent them from reverting to time to try desperately to retain some of the advances of the last 20 years. not least, of course, rights for women and girls, minorities, and so on. in other stories or for any operators of 78,
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he's only medical oxygen plans are appealing, fell off. he was severely damaged and last saturdays, earthquake facilities supply. several hospitals, the mine foxridge and has sold this month, driven by the cove at 19 pandemic and casualties from the earthquake, which killed more than 2000 people, thousands more seriously injured and toko is scaling down events leading up to the paralympics. as japan extends current of our emergency measures, a small plane gathering centrally was held behind closed doors ahead of the event beginning on tuesday. but like me, lympics the sports will mostly happen without spectators. and bottom line is the program coming up next i'll have another quick update for you in about 25 minutes time. i'll see you then bye for now. ah me. hi steve clements,
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i have some questions or crypto currency. it's like bitcoin and a theory. i'm just a passing trend or they here to stay. and what do they mean for you and me? let's get to the bottom line. ah, in 2009, if someone told you to buy a digital currency that was where the few pennies, because it would be the wave of the future. you would have been right to laugh. but guess who's laughing now, these crypto currencies led by the most famous of them all bitcoin had made many people millionaires. and some even billionaires going from the value of about $0.08 in 2010 to more than $45000.00 now. so literally, if you bought just $2.00 worth back, then you held it for 10 years. maybe you've just forgot about it. you'd be a 1000000 or today, quietly, with no way to tax you or even know who you are. crypto started as a manifest with lofty goals 1st to stay anonymous online. second, to create a financial world without borders. and 3rd, to avoid the traditional banking scene after the global crash of 2008. but that
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anarchist manifesto has boomed into big business. today, the size of the crypto market is estimated at 2 trillion dollars and they're all sorts of currencies out there. now, like a theory, i'm in dodge coin, car, dano, you name it. so inevitably that means that hackers are going to try to get in the action. invisible forces are going to try to manipulate values and governments want to jump in. they want to regulate the currencies, break, the anonymity and tax folks when they make a profit. so how much is noise, and how much is hype? and should we be sticking to cold, hard cash? today we're talking to an early evangelist, an investor encrypt though, and it's backbone the block chain. he is south african internet entrepreneur, vinny, lingam vinny is a shark on south africa version of shark tank, and he's the co founder of civic and identity protection. start in california, vinny, it's a real pleasure to have you on today. let me just start out because i want to have a thoughtful show on what the architecture and possibility of crypto currencies may mean for the average person out there. when you go and talk to an audience that may
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not be an investor may not own bitcoin. what are the things that you think are highest on the list of the benefits to society, from this new world of crypto currencies in the block chain? keep things going on the show. you know, i think they start with a very basic around what is, what is crypto, what is the block chain, what you, what, what is it industry about? and it really started way and it's not commodity, anonymous, inventor, bitcoin trying to create a efficiently a digital asset, something that can be transferred around the world. and you could, it was dissimilar to a music file who transferred over a decade ago where you could take communion, a copy of 100 times. you can send it to your friends. and you have to just today was regular files. but because it was different, bitcoin had a network of computers. so once you say a big point to someone, you couldn't send it to somebody else as well. and so that was
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a unique innovation on, on, on bitcoin, unblock change. ecology was the ability to make, use effective, use digital tokens or files and copy a ball. so what happens when you have that? so it's acknowledged. what can use it? well, you could use it for things like deeds, titles, for homes, energies which are not fanciful tokens. we have digital pieces of our way, only the original owner, the token actually owns the art. you can copy them, you know, 1000000 times, but doesn't have those signatures attached to it. so this is entire ecosystem that's evolved around the basic premise of creating scarcity in a digital world. well, i think one of the other interesting things about, you know, and i know there's a different block chain and then the currency side of it, which we can get into later. but as part of the currency side you've been out, they're predicting that bitcoin, which is around $45000.00 today, but who knows what will be tomorrow? i mean, it's gone through some wild rises and falls lately, but you predicted that by year end it could be up to upwards of about $100000.00.
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so one of the things that perplexes me is that most currencies are considered to be stable, that you need them to be stable. and as opposed to these big rises and falls, isn't healthy for bitcoin to search to a level of $100000.00 and be more of an investment rather than a currency. so the l d is kind of changed, right? what we did say was healthy and what not, i think overall the strong gosset's movement on bitcoin that we'll see it continue to be propelled upwards. you know, one of the things that gets miss mit actually in mainstream media and the best point on the south is that you've got this huge audience of people know constantly buying between. so the, you know, that kind of mean community, but i always go back to the original mean point the front door coin that's, i mean going to, but because the original client way you've got this, you know,
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this, this, this society, this community, maybe it's tens of millions of people, maybe 100000000 right now, that one's own bitcoin and a certain number of good point and they keep buying it. right. and these are wealthy individuals for individuals, whatever, across the spectrum, and services like coin base and a few others allow you to buy, but going on a subscription basis for long job savings. so people basically are acquiring good point every day, every week, every month on a regular schedule, and just put it into a long term savings account. and that that means one thing means about price, of course has to go up because it's a demand drawn supply. and the people who are doing these kinds of things to do this, they can put a box of 10000 bucks among the way a bit going. and because you know 20 will bit quite what's in the fix issue. and it's a simple number. the number has to go up now it may jump from 52100000 maybe come back down to 80 meg down to 30 or 40. but as it does it every single month,
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people are pointing into bitcoin and it's called dollar cost averaging. so they buying it every week, day man, regardless of the price because they're averaging the cost based and so that community getting bigger and bigger are people who subscription buying, but the coin every single time i'm selected. so this is, this is the always even try and, you know, i'm, if these people are telling me a bitcoin, which isn't really happening based upon on change just to see the big current prices kind of going to hold up. but if you've got critics like neural rubini, i'm sure you're familiar with neural ruby. nice comments. he says it's the mother of all ponzi schemes that it depends upon other people buying and holding on. and at some point there will be a collective realization. and this will crash in many people will become part. what is your response to someone like? no real rubini who worries about the downsides. so yes, i do, you know, neural and we've got to be to ship a lot of them,
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they say isn't bitcoin. and quite frankly, i'm, i'm, and they say on some things as well. i think that there's somebody just don't make sense. but, you know, i always learned that you group, you know, what, what the market does not what the market says, right? so people thing is getting up to 2000 whatever, look into buying to be look at the selling utility and your personal opinions actually doesn't matter. the market will do what the market does. and so no real and pita, et cetera, they're to me emotionally attached to the outcome either way. nora wants to be right. and so there's financial thing isn't goal. but the market distribution in finance, maybe it'll do that in the future. who knows? the fundamental issue is, nobody knows, no one knows how this plays out, and yet it doesn't make sense. but you know, maybe there's a paradigm shift, maybe the oil changes. and so significant way which means between you know, go off. 1 earliest this is just, it is tuesday,
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i think people often to negative or to positive and you but at least have met that this is an experiment this play out over 12 years or 30 years. and it is continuing to make headway and continue to go out. and so i please, you're a trained reverse on please you somebody which shows you otherwise, just part of the numbers. the numbers basically say this is diane and i put the ration and no one else opinion can change it right now. what are the trends in crypto currencies with regard to people knocking out the middleman? the efficiencies that are created? yeah, i mean the, the banking for a 2nd. right. what is really banking? what is it? it's institutional custody. you're fine. so the bank there's, i'll hold your money for you and when you need to give it to someone, you can tell us or we'll make a payment for you, or we'll invest it for you. what can i come to inspect? she said, look, anyone can be done, bank, anyone can hold their currencies, whether it's stable quite a bit coin, you don't need to have a bad, you don't need,
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you can burn your own devices. so the idea that money can be centralized in the back in the banking system is, is kind of an ancient idea of the new ideas. ready that else is able to be down back. you know, i think we're very early stages of seeing the way this plays are in the same way that the internet where arrived there was like, this is going to kill the newspapers. it's going to kill. travel agents can kill these of industries and you know, we still have some federal agents today. we're still having newspapers exchange their shrunk in the industry chunk, the few of them. but it didn't happen overnight. it took you know, decades to happen. so kind of like i caution people with thinking that this is going to happen overnight. what, what will happen overnight is you know, what i'm seeing is market places will fall where people can do much, much lower your transactions and with lower fees. and so that's a huge benefit for people right now. so let's talk about the global bad guys and
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bitcoin, one of the other dimension. if i were to organize and event in washington dc on this subject and convene people, you know, who's going to show up the f, b i the cia, the department of defense. what can you talk us through for a moment? what your concerns are about the security side of this equation and what needs to be in place that's not there today. so this for the record, my company civic provide you know, k y c which is know your customer now. anti money laundering technology and services and id verification. so we're, we're big into the space all revealing who's on the other side of the transaction. now, what i can say is this, there's 2 sides to this coin. first of all, there's the, you know, called the 1st 6 to 8000000, maybe 10 minute coin, the minus between work, which is largely anonymous. we don't know where that money is. who owns it? we kind of know which one is on it, but we don't really the reason these people are so, and we always, you know,
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there was some activity back then there was a lot of dryers, markets and munitions committee. but the good news is on the back in the next 10 minute coins remind is kind of well known these minors operating china or wherever part of the world they have k y c done. they sell exchanges. so the real question is like, how much of the big market is in the hands of people who are, you know, bad actors, so to speak? and when they want to convert that into capital into cash or use it? well, they have to go through exchanges which have k y, c, a policies do stupid transactions, other bad guys, you know, so that's the question. i mean, you have things like the centralized exchanges and, and whatnot where there is no identity testers. so the governments are coming in and they say, we want to try and shine a light on who owns these coins at a very high level. and so we don't want to be having any terrorist financing happening is address my view. and the government perspective is they, it's,
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it's kind of like the latest they showed us, you know, people years ago. and they kind of woke up now realize is a really big market cap, a big claim, a lot of money sitting there. and how do we deal with it? and they're really trying to over compensate for their lack of action 4 years ago. and so that's the concern. this is an issue burgeoning. yeah. and you try to kill it because you guys are sleeping on the job. you know, 3 or 4 years ago when you should be more active about this. and that's not any one particular government. that's just the global market, global rates. and somebody have been smart about it, so haven't, but these are that it's, it's so difficult to enunciate this sort of issue or because it's so multi dimensional. i mean, i could take me an hour to go to all the different facets of, well what am i, what about that? what about yes. and so you can speak to that. okay. well, governance, you know, they messed up and now they're going to come in really hard, or you could say, look guys, you know, let's just find
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a way going forward that keeps the good active engage with each other and see if the back is on the sidelines are they trying to enter the market place? it's kind of locked up and they gotta figure out, you know, in court or whatever the case is. so when it comes to things that the centralize exchanges my company's with young, on identity layer, so that you can actually trade on the final changes. because the polity, by changes you stated, is kind of where i want to go, you know, put in but coin to buy him. and i don't know who the other person on the trade is. i could be a trade with someone who's already back down giving him but point what it was. and so i think the world needs to you if crypto wants to interface with the, with the well and with the banking system, we kind of have to adopt similar regulatory standards. so that this parity here too . but, but the, the crypto will get the benefit of not having any centralized ation or not having any custodians for your files. you can be on band and the bank you will, will have
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a computer that can mostly see even the playing field on the regulatory front, the comfortable is going to destroy the banking sector. and, but the concern is if you over regular crypto, they do the banking sector, the unfair advantage of a, be the cumberland and be having like the regulations. you basically are corruption, the system because that means the regular is up every the banks and trying to protect them. and that's not a mighty well, we're beginning to see vinny. what do you call it regulation, but you're beginning to see more people comment in the us side about concerns about what's going on in the crypto currency world. there's also been interesting in how you tax it. so as part of the infrastructure bill that is, that is just passed, at least in the united states senate, but we're waiting to see what happens in the us house of representatives. the payment scheme for that infrastructure in part depends upon, you know, taxing brokers which could mean minors under the current piece of legislation that
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is past. and then in china, when we see the moves by the chinese government, which seemed to be very, very hostile, in my opinion, to the crypt currency world. do you have a worry that that regulation world is going to spread and choke out the opportunities for crypto? so because of the big industry, i think the coins may come under attack, but coin one of them for example. but doesn't mean that i think that the some protecting criptos is very, very, very large. so how do you every single point in every country? it doesn't work, so no government have to figure out a way to do this. the some of the regulations are just kind of crazy and it's got into that these regulations, people move from crypto unfriendly countries because of the companies you cannot protect the banking system. you have to assume that the banking system is going to be, you know, it's good. dia over time. so just basically level the playing field, right? the banks buy it out with the telcos, refining the banks for years they've lost largely crypto is not buying the bank and
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kept that things going to win. and the basis is not in this, and we all like. but you know, the find a ridiculous amount of fraud that happens the bank given with all that k y c. the people who work in banks are actually i like, i would say a lot of what i see people are bank they, they do what other banks do to that they don't be in trouble. they're more interested in saving the job and solving the problem. and so what you find is like example, i sent a wire to some scammer in some foreign country. that money's gone right? right. well, you know, you back, you know, recourse to the bank and say, hey, you k y, see these guys, the name of the account was this, but it wasn't really that side. that's it. so what's the point? what's the point of all these regulations came? i see it's interest when the banks on be held accountable for bad and so, you know, i think it should be yeah, yeah, the people and say, you know what, we don't care where you want to use banking or crypto or whatever else or even
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using a telco account doesn't matter. you can use it time to pay for stuff. you can use crypt, the kinds you can use, right? we're here and they show that there's no terrorist financing. there's no, this is activity, there's no money laundering, but that's what the rules we set for banking on the same rules and whether you want to use one of the services it's up to you that's, i mean, my idealistic sort of balance view. the reality is that the bench, you know, and the politicians in many countries based together, and so the banks will fight that notional and they will, the banking system once heavier regulations of crypto, because they realize the crypto is a message straight to banking. well, you know, we've seen now vinny, companies like wal mart visa. ah, a country like the government of el salvador. now moving to be quite crypto friendly crypto transactions credit cards based on crypto, encrypt those savings. governments that have now established this as a national currency. do you, so let me ask you for
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a famous vinny prediction when you think a year from now, are we going to see more government, more large companies? do you see the trends, you know, continuing that we're seeing today or do you see that this is largely still a very tentative process? no, i need to. i didn't know the bag. i think every, every major company that the so let's go to be the be the right is recognize that that entire system is both on the banking system and on the bench. and they've recognized the banks in trouble. and they just didn't train rick and slow the banking system doesn't realize how much trouble they're actually in these is a really smart, you know, silicon valley based company raid. and they know this is going to be the end of the banking, right in the bank for some classes. these are still want to function, right? so they make, they basically, you know, future proofing their business by. thank you very diplomatic. i mean, i don't know what the list if that makes you say you guys keep thinking criptos not
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going to be a big we're going to make sure that we don't really care whether crypto u. s. d. c or bench with that process with the network. and quite frankly, visa it doing a really good job in this, in the sector right now. and the banks are sleeping on the job because the bank watching visa do this and you know what and i and, and, and when the will changes and they realize they blocked the edge. visa will still be there, processing progressions of crypto, safer pay felt safer. square, save all the next generation parks out there. the banking system is so far behind right now. i don't believe they can catch up. i don't believe they have the talent or the people. right. and the reason for that is back in either breaking, aggravating or they come to me to ask the question, what do you think i'll be like, well, who the smartest person you know company? well, johnny over that, i'll be comfortable to. yes. and what does your salary $200000.00. why do you think
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he gets paid $25000.00 a month because he wasn't in early enough to make money. the dollars crypto. recognize what you do. you think he's one of the smart guys? i think he's one of the guys who just didn't make the cut in crypto. right. and that's were right in the near the envelope. but i gotta get a quick question in here. you know, you on mosque has said because of all the mining and the use of energy and bitcoin that, that, that dirty currency. but don't coin is a clean currency. what is your response that you on must so you don't is, is right to some extent. ok, the view of my view in energy is that like bitcoin or will help accelerate the teen energy for the world if it gets use of scale. but the reason is because he's right on a fossil fuels or whatever at scale. and so in a large amount of periods, you're going to be quite a bit quiz, capitalize some of that innovation around a key energy, right? even is right about a couple of things and this goes back to the so skating wasn't 17. the number of
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transactions put block in bed queen makes but quite a very inefficient block of block chain full of transactions. because you've got a fixed number in the block size. a bit point was 8 times the size. you can put 8 times transactions the same, i really just use it right. so this is a problem, a bit point. and when you get those going, well, don't communicate, experiment more, trying to expand last time. all those things. there's some, some transition concern there, but other than that, it's really, it's a mathematical function. yeah. right. more transactions but lot equals less cost of electricity per transaction, and it's quite as constrained to $7.00 transactions. the 2nd one, megabyte blog, and it's kind of like, well yeah, it is what it is, what it is got. got it. i'm going to squeeze in one last question. you are a shark on the south african version of shark tank. so separate from the crypto question, when you see these entrepreneurs out there, young and old, people come with a crazy idea. what do you think stands out?
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what are you looking for? you know, i always for the people, because i think the people that ideas come and go, they change that evolve, but you find good times people smart, hardworking, willing to make sacrifices, you know, you should give them as much money as you can, invest them all day and if they fail, that's fine. i look at people, i look at my relationship with entrepreneur as a big hey, i want to back you in this company and the next, i'm an x and the next. and so you get a get a big hit, you know, that's, that's kind of my perspective. and until you prove me, otherwise you're high quality individual. i'll just keep giving you money as an investor or any link. i'm serial entrepreneur for a board member, the bitcoin foundation and currency. you have civic in california and star of dragons, dan and shark tank in south africa. thanks so much for being with us today. they see. so what's the bottom line? crypto currencies have forced us to think about this big question. what is money? businessman eli must twitter to few months ago. that money is just something that
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quote, allows us to avoid the inconvenience of barter. that means it allows us to have a way to treat apples for teslas. and by that definition, anybody can really invest in anybody without the middleman, by which i mean the government, as millions of people start to trust and use these crypto currencies, they're becoming more real. the reasons that governments don't like them is that they want to control the flow of money and they don't like when people can hide from them. and they especially don't like it when folks are making money without paying taxes. that's partially why you have some crackdowns on crypt worldwide, but there's no denying that big crypto is here and has been for a while. the struggle between government and those who want to push the envelope of what's possible on the internet is really just beginning. good luck to those who want to stop them and that's the bottom line. ah.
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the taliban has reclaimed. but us withdraw began news earlier in 2013 and 14 witness followed a unit of the afghan national army as they commenced the onerous part of confronting with taliban without native support of a trail of young men fighting for their country. while knowing each day could be their last, i've got to stand own battles on a job here, the government parents get to have the infrastructure, they need it. they promise result in 5 days. but it's been a year examining. the headline. is this another potential flashpoint for conflicts voice from different corner? every house here has someone who has made it to the top of ever. it's not just one, several time program that has been your i to you today on algebra.
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ah, hello maryanne and lisay in london. a quick look at the main stories now and there's been more gunfire. heard and stung grenades used to push back huge crowds, gathering a cobbles at port for the 5th day. thousands of people of their daily hoping to flee afghanistan on the taliban rule. more than $18000.00 have so far been elevated, but tens of thousands left in the country could still be eligible. the u. s. a. nato pledged to accelerate the number of accusations. but many afghans still faced major obstacles from tyler.

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