i usually just spits these hits out and i think it's going to tell how merkley he goes is really right i'm trying to say i'm sorry don't be there ever just say ten years ago we had a documentary here about the rolling stones now i would say it sharon just the decline of talent i think is something that i do sign i'm going to stop you right there scott. thank you mr rudd's well catch up a little later on and thank you for spending this time. every journey begins with the first step and every language from the first word has been. rico is in germany to learn german why not learn a simple online on your mobile and free shop. learning course because speaking german made easy. beat the germans new and surprising new specks of license culture in germany. u.s. american keep losing take a look at germany this increasing use of their traditions every day lives language

to some i know my life. so. yeah good. d.w. dot com the german. the bitcoin volatility continues as calls for regulation out at banks and states jump on the block bandwagon the technology behind the controversial cryptocurrency. and mechanical money we made to create a new digital currency designed to give machines the power to pay. and benefits all in let's do business bitcoin has managed to poke its head above the ten thousand dollar mark again if people who invested just a year ago sneak a peek at their digital wallets they'll see

a return of some seven hundred percent impressive money doesn't grow on trees but you can dig up the virtual kind on the block. bitcoin is a digital currency and its value is determined just like everything by supply and demand and unlike other currencies central banks cannot influence the course of the cryptocurrency value through monetary policy bitcoins were first programmed ten years ago the developer was known only by a pseudonym toshi nakamoto to this day the program of behind a technology has never been identified the idea is that everyone who installs the bitcoin software on the desktop or smartphone becomes part of the bitcoin network the digital ledger that supposedly makes bitcoin both independent and secure is what is known as block chain a block chain is a ledger managed by many computers in a network which keep track of records in what are called blocks each block contains

information about a transaction the block is checked in very fied by older computers distributed throughout the network and contains security calls from the previous block that practically eliminates the chances of manipulation and count a feat of the current state. at the moment bitcoin is still on a wild roller coaster ride in the markets but one thing is fairly certain after all the coins are issued that coin won't fall victim to inflation the algorithm behind it won't allow the mining of more than twenty one million bitcoins and they'll all have been created by the here twenty one forty. a national advisor mock fraid of a she joins us now from oust accounts trio you're no earlier best to it because i know i don't expect you to gloat i don't want to make you blush but. quite a millionaire. no not at all not at all not in the not yet.

you did it best back in twenty thirteen those so i expect the gains are pretty impressive what happens if because it goes back to zero as some people is that. it will never go back to see cause it's a disruptive technology and it will change to vote definitely it has the same impact like the internet i think block sharing and the big call in technology has the same impact on the financial world like the smartphone on the telephone booths in the telephone booth will not totally disappear but we don't use them anymore and i think it. financial system for the future in the next ten or twenty years what about these huge swings in the value of big call in the fifteen percent a day i mean do you sleep well at night when you see the news. no just kidding no seriously i'm used to it it's like a tradition actually notice in the big con community to saying hostile hold hold

hold you call it's cause i saw horrible horrible corrections and crashed ninety percent even in the year two thousand and thirteen but it always came back and you could always speak and hire and i'm very positive that does technology will change everything it's a revolution we can't stop and now it's time to in west in small portions ok it's nice of. you guys to hold on to your coins but what about people who actually want to spend those going to feel buying a house in florida which is possible with bitcoin what happens when it falls in value by fifteen percent the next day. definitely it's a risky investment right now but i think it's the future and you shouldn't invest more than five or ten percent of your whole wealth you just little steps and in the future we will see that it will be more and more normal that we spend crypto currencies in the future and i think the banks realize that and that's why they're so fighting so hard against the block chain and the bitcoin and cryptocurrency s.

it's not just banks it's all countries china is cracking down on what does that make you feel. i'm happy we sort of already in two thousand and seventeen nothing happened you know would have us of a short dip but you can't ban a correct on a decentralized system it's a possible cause all the information out on thousands of millions of computers all over the world you have to switch off the internet and that would be catastrophic so you can't decentralized system that's not possible and they can try but that there is the great fire wall of china which we've all heard of venezuela as well as it introduced its own crypto currency the first state controlled crypto currency but it is state controlled i mean it's not decentralized obviously that exactly is the opposite of off the ground idea of the blocks in technology and bitcoin so i'm not recommending to invest into petrol and gold petrol so on the one side it's very

positive for the whole movement because you see now a centralised governments and institutions going into this market and they see the potential on the other side come on lenders to spend corrupt this hyperinflation it's a socialistic coming to stick it will fail and we want to be noted with the chairman democratic republic in eighty nine briefly there are many other crypto currencies out there what makes you think big coin is the one that's going to stay there many people saying it's going to be the altar of crypto currencies. yeah all longest track record in history it's now things two thousand and nine it's rocking it got never hacked and it's getting exponentially more and more secure and i think it will be the gold standard of crypto currencies of a trip to qantas will come as well but bitcoin will always beat their ex the same like the blocks in technology it's here to stay good for rick for us and show god thank you thanks for having me of course critic and see is about more than just

making a quick buck digital money has the potential to brave aleutian eyes the world of finance or machine learning makes huge strides we met a young man who's develop the technology to allow machine to machine payments. easiest to catch at the airport dominic shino twenty two year old programmer with. the entrepreneurs flying all over the world to promote his digital currency he's put the code for us out in the public domain called aims to vet transactions especially those that in the future could be carried out between machines. our mission isn't automation it's to make things independent and the way we make machines independent is to give each of them a digital wallace. and what we do then is get the machines to paycheck their one good example is a car paying its own parking fee in the future that'll all be sorted out by the car

and it's partly or it's charging station or the road toll sensor at the. groceries off or another opportunity for automation like a fridge that makes purchases automatically and pays digitally cryptocurrency could be the money of the future the best known as bitcoin which is based on block chain technology she believes it's already outdated. because i want to carry out a transaction using bitcoin i have to pay fees of between ten to twenty dollars obviously more expensive than a bank and if you look at the machine economy where one machine is paying another we're not talking about larger transactions like ten dollars so we're looking at transferring micro payments a few cents at a time so you can only do that with the your. the e.u. with a currency is based on what's called a tangle confirmation of a payment functions much faster and more cheaply than with block chains from competitors like bitcoin small sums are easily dealt with and she claims it's just

a secure. good thing about your size that we've got a lot of researchers on board almost ten mathematicians they're laying at the theory behind the tangle they're validating it with solid proof which is what we're working on that. until now people are still shopping for groceries for the leaving it up to the fridge but cryptic currencies are bringing the days of machine to machine transactions one step closer. let's bring in our correspondents in singapore and frankfurt and greying and called red shoes and conrad is bitcoin already out of date. well obviously the competition is on the rise people like the young entrepreneur in berlin the government in venice where they're all are in the mining business of crypto currencies and this variety makes it likely that the volatility of the prices of many of those crypto currencies is likely to stay that's why many people here are in places in traditional trading

places like the frankfurt stock exchange are warning private investors of putting money in such crypto currencies you have also always to be prepared to lose all of the money you speculate with. what about the safety and security aspect andre that's a question to you asia's seen some quite scary example. that's right the thing is the selling point about luck genes is that there is no centralized exchange that manages these transactions and your data for you and on top of that the detail is not take to your personal information so your transactions are anonymous yet visible at the same time so what happens is the digital wallet that you're given is assigned a public key so that we participants can transact securely privately as well as credibly. the regulators the chomping at the bit of we certainly will be hit hard very soon could we see bitcoin dealt

a blow in other cryptocurrency. well the bigger this gets the more and the bigger the urge is for policymakers to regulate this but as we've just heard this is a d. central technology that's a big asset it might be very very difficult to control it in any case this sounds like this global phenomenon needs a global approach in regulation correct those words there in frankfurt and under. in singapore thank you. and i was doing business with you are. going to. play.

the odds. european social democrats are in crisis and the next generation seems them french socialists are looking for a new leader well germany's s.p.d. is facing a crucial decision to rejoin a conservative government or not young party members are speaking out can they help set the course for the social democrats future. move next on g.w. . buying dortmund's shoka like say go

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and checking landscape. and caring. touch. and. through china starting february twenty seventh. in the. welcome to focus on europe i michelle had germany's government has been in paralysis for months since an indecisive election last september finally however the end seems to be in sight in our special broadcast this week we take a look at what this political limbo has meant for germany and for europe after weeks of political wrangling.