this case of a confirms nor denies the conspiracy theory was definitely food for thought and does a kind of not make sense to discriminate against anyone ever for having a high i.q. i don't know but that's just my opinion. right from the scene. first street. and i think you're. on our reporters twitter. and instagram. to be in the.

color welcome to soap and komi sophie shevardnadze and our topic today but coined forty five months in reviews to digital currency is gaining support around the globe but what chances does a stand against a world currency is. instant private safe secure that's what bitcoin claims to be a digital cashpoint free from central banks a virtual currency built on faith. brave and bitcoin has want to overturn the world's financial order smart and savvy they believe in currency evolution and monetary revolution. and bitcoin competes with the giants is old it shimmers go can it be trusted this is an agenda. and our guest today is amir taki a person from the very heart of the revolution. system here is a sucker

a developer for bitcoin and i'm not sure he knows it all i'm joined by live from london and we're great to have you with us today so clarify things for people who don't really know what it is why it's exactly bitcoin. because it is a pure form of money with a mathematical basis. and it is the party that you have to trust when you engage in trade using this system it's just really a type of digital cash the purest form forget it's properties of which there are many. one of the most significant things is strong personal privacy of your financial transactions the lack of financial censorship it's it's a tall which allows people to engage in trade on the internet and in real life directly between two people without any middleman without any further parties taking a cart or censoring your financial transactions as of today how popular is bitcoin worldwide when i'm going to become in two years ago it was zero point zero six

dollars it was a very small community on the internet and the experiments were projects and it's right now is booming it's the value of bitcoin is over one hundred twenty dollars. much in surreal life aside to accept it big established companies on the internet assigned to integrate into their services as a way to properly do trade this is really powerful thing because when main when you start to see like mainstream services are using this financial tool of the internet and they're switching over it's it's really like powerful thing that you can the now you have something where people can engage in trade directly without the oversight of regulator or corrupt or for a ts. leverage the payment system as a way to control people and censor a lot of different projects on the internet it's really growing and there's a huge underground economy. an informal marketplace or of different services i had

a friend who set up a bit coin stock exchange a year ago and he had to close it down because he was face facing ten years in jail for running a securities exchange of our license while just a month ago there's now a a tour service. in encrypted internet web space where you can trade stocks and securities on the internet using bitcoins isn't it removes all of the restrictions on stock markets that just shut out the normal average person on the street because it is a really awesome tall because it's it brings a whole host of financial services to the banks to people who don't have access to these to the markets it's something they're not saying here's a set of my set that is just that that your friends stock exchange underground stock exchange was closed because he didn't have a license or basically even license to tip to brokerage stuff i can open my own stock exchange with bitcoin or basically he he was trying to run like a stock exchange in the open licensed with his identity public and he just

couldn't because the way that the regulatory system exists is just to enforce cartels and monopolies and force out small competition it's not something that really leads to a proper free market economy it's something that just leads to protectionism in forcing the status quo there's now a new stock exchange by a different group of people on the internet and they're doing it anonymously using using internet tools to protect their identity to use bitcoin to protect the financial transactions and not have them censored by a third parties and it's not just a stock exchange there's all kinds of different services like money lending or or just even just buying donating to services like wiki leaks there is the case of make upload hard. you could upload files to the internet and share them with other people which is the distribution of knowledge and there's a lot of established industries which are threatened by this new kind. a model on

the internet and they tried to react to it by using the the current regulatory and legal system to enforce separate position in the markets and so a tool that was used to shut down mcgrath load was a payment system while it may go up load is but can are as make our. offering encrypted file storage and nobody can see or files using because using. previous c strong privacy digital currency that's like something of science fiction that is unimaginable five years are going to. rain that point yet instead they've started moving now against bitcoin last year i was running the u.k. because in exchange for you for more than a year and a half before we had to close it down because the banks were just on our case all the time putting pressure on us and then the u.k.'s regulatory agency changed their time on my personal bank accounts was shut down and i was blacklisted from.

vaillant state is increasing exponentially every year. the storage capabilities per person are in scale of terabytes i've never seen a terabyte in my life the police state is increasing massively the police forces have been given new powers like stop and search ability to detain people doing anything ari got the financial system knows nothing can legal but the financial system is like literally eating itself out and the bureaucratic system is getting overbearing crushing itself under its own weight and this is increasing every year and the economic productivity of people's work is being used to fund this

architecture of oppression and meanwhile people's wages they're going down the amount of people working is going up and that they're doing jobs that they increasingly hate just for a small box apartment of extortion at rent and pretty soon people are going to be stuck and trapped in a cycle of oppression and a new leader is going to come into power is going to flip the switch and it's going to be turnkey tyranny is. basically their big point is much more than just a currency it's like a whole new world you it is it's a new world order it's imagine you have imagine you have a financial tool on the internet which is completely distributed and decentralized and that anybody and that no central part owns the infrastructure there's no like central bank that you make your payments through is everybody in the network that's part of the system is up holding the system it's like gold or some kind of more ancient traditional monetary system that when you make a payment there is nobody telling telling you you cannot make a payment to this guy you and you're only allowed to make

a payment to this guy but not this guy and that is directly between two people with parties involved taking a field taking a cart and that's really powerful thing that right now the situation is that all over the world there is huge amounts of people not just talking about in developing nations where many people don't have access to financial infrastructure but also in western countries who know. there are many people who are able to engage with the current financial system and there are many types of businesses on the internet in real life that call in go to the financial systems prisons in colorado let's let's let's just reach shops ok let's just take a look at the economic side of bitcoin things stand today ok so here are the numbers currently a big current circulation value amounts to over one billion u.s. dollars it can be compared to an economy of a smaller country how much of it is investors trying to make money as opposed to those who just support the bitcoin ideology and are making bitcoin or their currency of life. yes loads of there are loads of investors right now getting into

because because there's anybody who's smart is looking at this system and they're evaluating it objectively not based on like how much attention it's getting or who else likes bitcoin but if you just looking at bickley and you can see that this is the future you know if you have a tool which is international you can make trade anybody instantly you know it's uncensored it's running twenty four hours seven days a week you know the fees are very low or there's no fees ok but it's not as if there's actually i mean it's a demo you can actually store your money in bitcoins as of today no it's more than a payment it's a new form of money and if you're holding dollars or any of this rubbish government fiat currency or holding failing money you need to get into it you need to get into big point because that is that is the future that is the type of money that. is proper pure money it's like the purest form of money it's not you know it's not something that's like printed by a central bank soon ok but it turns disturbs origin to

a ritual where do i store my money how do i make sure that i don't lose my big coins. because a stored on your computer and in a file nobody can access this far you have the keys to unlock your because to send them to other people if you want you can trust of the third party sites like there's one called block chain dot info where you can set up a while if and use your storing your because someone else. but you but you hold because it's on your laptop and it's something really powerful and i send because directly over to the internet to someone else without any further party involved using software that i wrote completely myself. using because i held on my laptop and nobody else can access it it's a far better security policy because software is open source so you can download it and you can read it and just like someone can read french or spanish or english if you're a programmer you can read the source code and see that it does exactly what it says it does because it's

a system based of mathematical principles not of the social fallibilities of failings of of third parties now since your bank accounts are all cloud closed down hugh existing of bitcoin is only as of today. yeah i like i have my reserve in bitcoins and i travel to a different country and i can trade it for local currency of people there's loads of traders all over europe and america and south america which is all the country are travelling to in the last year if you go local bitcoin stock com you can find different traders for all of the different cities like in london alone as over sixty different traders and you just meet up with them in real life you give them some cash or you give them because and then they give you in return. but depending on what you're trading all right thanks chad myers a short break now ok i got you thanks a lot but we're going to call the way back it's time for a short break now and coming up next we're going to safety and what if the bigger fish comes statement.

this will also notable dates and you try to transmission makes for a smoother ride bush and scientists conjure up could see it's crystal the e.u. sets its laser sight subject on one of the tech giants. you've. seen the perception of the course many times it doesn't matter if there's snow a heat wave or hail storms people keep going i didn't expect anything just one i

told myself i keep on going as long as my heart told me to that's all i wanted at the moment. and so you see i'm carrying these sayings on. do you want me to put a man in chair no that's fine a lot of people were so exhausted they could barely walk their feet hurt and some of them strangers who will bring you back to retreat to want to keep going i don't know what tomorrow will bring. i would rather i asked questions for people in positions of power instead of

speaking on their behalf and that's why you can find my show larry king now right here on r.t. question more. welcome back to the show we're talking today about the alternative currency but coin with one of its developers eimear tacky good to have you back and we're all right so she needs big coins to pay for bigger things like college for example you can use big coins to pay for energy how seeing. i have friends in buffalo not a whole as you call it you can i think a big chunk of money not not not not energy not housing college if i wanted to pay my college tuition what bitcoins could i do that. i don't i'm really looked into it

i mean why would you go to college when there's free internet sites where you can educate yourself on any topic you want you know some people still conventional education you can't you know you can't really compete with that some like internet some like. if i were like this conventional dude who just wants to go to college and i'm crazy about bitcoins could i you know myself could have paid my college frequence. to be honest the real benefit of bitcoin is not things you can do currently using the current financial system it's things that you can't do that's where it really shines you know there are a whole there's a whole on the ground economy over tour where you can go to different websites and get different goods and services are not available for instance one website called silk road where you can buy drugs online and this is really powerful stuff because the war on drugs is failing and it's costing thousands of lifes every year and destroying millions of lives and empowering violent gangsters and cartels giving

the millions now if people can get the drugs directly from the producers the quality is far higher is far safer and is this empowering all of these gangsters and is going on that is where there are huge think because every time i i was preparing for the program and i plugged in bitcoin any sort of search engine the first thing that actually comes up is that this makes drugs drugs circulation is there it makes arms sales easier. how do you look at that i mean that for people like me because i like the whole point concept i would actually buy into that but the whole drug saying ok i have one of those so it's actually against them and i'm on that with the law because i've had people around me die because of drugs so if i know that but i'm going system is actually facilitating sales i wouldn't go into it like you wouldn't want people to associate been caught with drugs trade and arms sales. look at this way the central governments are losing power and people are

becoming more autonomous and the only the only way that the central government knows how to combine when it loses power is to step up the repression and step up the oppression and pretty and in the future it's going to the system is is really going to become very overbearing and be sucking a lot of economic productivity and work out of people's. you know what i can live stuff to support the architecture of oppression and. we really need to have alternative systems where people can live freely and engage in freedom and we need to build systems that don't depend on we need to build resilient systems that don't depend on needing to have arbitrary as the when there's a problem we don't get assigned when i remember the concept we don't now like we don't answer but i'm talking about facilitating that crime in terms of bitcoin being something that actually because i say also is it really doesn't seem as if i drive is created through big coins than it is to actually find a drug dealer and pay can read so you facilitate in the crack in the law against

laws against drugs they they don't stop drug use they increase drug use if you look at countries where they have. prohibition against drugs and in countries where they've legalized drugs like saddam or portugal the drug use is actually gone down and the proper way to fight against drug use is not to criminalize drug users it's to to disenfranchise to take the power. and because it is not just for drugs there's a whole of there's a whole bigger thing the black market is not just about drugs and guns it's about the informal underground economy where you're doing trade with someone and if you're in you're in gauging in trade directly with that person for a whole host of different services unimaginable right now for instance you can do feelings like decentralized public services like health care or hospitals if not needing a central authority or not for example it's like when you walk for out the city there's all these wife i hotspots which people lock because they don't want to unlock them because people world suck their bandwidth you know by downloading

torrents or then people have to foot the bill for that now if you use big point people can unlock their their internet why fight and get money back as people use their wife i and then that and then that incentivize people to become providers of internet and it incentivises the creation of mesh networks or it turns it also talking a lot of censorship on the internet talking of wife i imagine you're a fire away from internet like you're somewhere and the jungles of nicaragua is because any good for me is it is there any use for bitcoin in that in that situation where there is no internet around me yeah like people are so right so just this last weekend there was a guy who did a presentation in canary wharf about iceland and how the icelandic government cannot manage its own currency. and this guy had a long history of minting private currencies and he was proposing that icelandic government should move to the issuing

a private currency that's backed by big client and that's possible in like any kind of region of the earth if they're even private issuers of of virtue of physical currency is backed by big current right now in the u.s. it could this physical coins and they have very interesting mechanism behind them where it's a physical coin river because locked inside it that you can unlock the digital bit quote from into. side you know that and there's all of the different schemes you can make to bring big point into the real life but the whole thing is that it. it produces like a market which is international that everybody has access to regardless of race religion creed and we really need to fix start thinking about ok building these alternative systems where free people can live where where we can decide our own futures where we can build farah systems because it's not sustainable with the current society we're living in this is not the natural way for people to live and

it's rapidly declining all right so you guys are saying that you're against a third party being involved between two people actually doing business or trading great but what if i start my own bitcoin bank like take deposits give loans who's going to coming away and how does that sit with yourself or punk anarchist mentality. you can do that if you want and people can if as long as you're over eighteen years of age and you're both consenting adults you can make a buying can start doing fractional reserve banking doesn't that is the only value of what you stand for. the whole point is is anybody is allowed to do whatever they want but if i'm accepting because i'm going to want the physical bit corns i'm going to want to see that on the block chain i don't want some bitcoin bank credits and less like i really trust that person and the whole point is it makes our system not really feasible because right now the banks they also control the financial

network and so if you put money into a bank the banks are lending out to other people and they're creating money that doesn't really exist through fractional reserve banking but if we've because you can actually see the record on this block it can't be faked it can't be you know false entries added and so people were asked for the real big coins not some big point bank credit so as of today over. one billion dollars worth of bitcoins out there but for bigger corporations it's nothing it's pinots aren't you afraid that there's a bigger fish that's going to come and swell view you have all come on it's only been two years and because it is booming the dollar dropped over ninety percent against the bitcoin last month. and in a system that can't be censored it can't because of peer to peer decentralized network governments are always had trouble trying to censor peer to peer networks like there was a whole bittorrent thing which undermined the copyright industry and big point is

is in lock step with a whole host of emerging technologies like three d. printing an open source ecology that is really empowering people and giving them the tools to take back what is theirs and build our systems together but do you think someone can buy you out can someone actually buy buy the whole bitcoin concept or system is it is that possible. software as open source maybe if you're talking about buying all of the big points in existence and then that's impossible also because it would just drive the price up and i have some if i have one hundred big clients and i see the guys buying them for one hundred dollars. well i'm not going to sell my big coins i'm certainly not i don't want dollars but if he's going to give one hundred dollars someone might say ok i'm going to sell him for three hundred dollars of this one else is five hundred dollars and then the price gets driven up but you know there's this really famous software activist programmer ritual starman i'm sure you've heard of him he basically you know five the same thing that you five he he wants individual freedom and conditional individual

uranium in the internet but he actually thinks that cash is still the safest way of payment of course and richard stallman he's also a fan of bitcoin i organized the big conference last year in london and he came and he spoke about bitcoin and these other technologies and cash is also a very safe way it's it's really anonymous you're giving most directly to a person and there's no one else involved in that trade big point is like digital cash. when we have big coin cash that would be perfect to work and trust just really quickly because we're out of time you know this later and a sale expect snowden that actually prove that there is no such system in the internet that the government or the hackers cannot break into its bitcoin system breakable into is how i mean it can't be saved because every single system that has

been has come up before bitcoin has broken into has been broken into why can't i think ok so if we take the internet the internet as a tool that was put out there in empowered a lot of people but the same time will exist so there's a whole body of people who are building tools to track people on the internet to sensor information on the internet and just generally oppress people at the same time there's another group of people on the internet who are building tools to allow people to get around the trucking to anonymize their identity to get around censorship and just generally free people because it is also like the internet it's all put out there to free people. to empower a lot of people and at the same time there will be people who are researching into bit coin how to track financial transactions how to sense the financial transactions and how to oppress people there is also a group of people who are researching how to get around the trucking to anonymize financial transactions to get around censorship of financial transaction and just

generally free people it's always a constant struggle between these two groups of people for out society and the really cool thing with these internet technologies is they took the ballance more in favor of this side of people who is working to free people and that is what i love about bitcoin it's the first step is that but it's not the end we have to keep fighting we have to keep pushing we have to keep building more and more better tools for the people all right we'll have to live with that there that was that mayer attack a software developer for you kate coyne thank you very much for being with us today i'm selfish ever not thank you we'll see you in our next edition of serbian cup thanks for watching. right by.

where i'll talk about language as well but i will only react to situations i have read the reports. with the new i will leave the state department to comment on your . secure yellow cards on the dock you know gonna. take you no more weasel. when you need a direct question are you pretty for a change when you know you should be ready for a. freedom of speech. down to to freedom. the judges assess on the son. killed on the streets. that women kidnapped and converted to islam but false will be another layer of mussels for the couple of christians of egypt to the cross to muslims future

victims. the way of the cross.

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genuine indignation over america's worldwide surveillance or election point scoring germany push the time to data protection rules following accusations of government complicity with the n.s.a. . washington seek sanctions against any nation offering edward snowden asylum talks exclusively to. one of the country's ready to take in the fugitive. plus the syrian opposition presses the u.s. to hurry up in sending arms to the rebels the head of talks between the u.n. security council and the leadership. turmoil returns to the birthplace of the arab spring protests.