it's going chooses to me and all sorrow. is did was for the show to. get in the six pm get out six feet six. they were. doing school they. had to me the class people and. they used the word against the word. it's tough to think about all of them to do. and to know that many may not have only been the last to choose won't should never be but they're also due to for closures that never should have.

welcome back to the show we're talking today about the alternative currency 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 bitcoins to pay for energy how seeing food i have friends in buffalo not a whole as you call it you can link a big chunk of money not not not not energy not housing college if i wanted to pay my college tuition with bitcoins could i do that and 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 like conventional education you can't you know you can't really compete with that some like internet some like credentials if i were like this conventional dude who just wants to go to college and i'm crazy about bitcoins could i you know finest myself or coins could have paid my college for the coins. 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 that 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 a rather huge thing 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 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 because with drugs trade and arms sales. look at this way the central governments are losing power and people are becoming more autonomy 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. work and live stuff to support the architecture of oppression and. we really need to have alternative systems where people can live freely and engage in freely and we need to build systems that don't depend or we need to build resilient systems that don't depend on needing to have arbiter of when there's a problem we don't get a sign at the concert we don't know like we don't answer but i'm talking about facilitating that crime in terms of bitcoin being something that actually a bigger could i say also as it. let is if i drop this created through bitcoins 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 that 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 away from gangsters and because it is not just for drugs there's a whole lot 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 you're in you're in gauging in trade directly with that person for a whole host of different services is 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 why five hotspots which people lock because they don't want to unlock them because people were suck their bandwidth 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 incentivizes the creation of mesh networks. talking of a lot of censorship on the internet talking of wife i imagine you're far away from internet like you're somewhere in 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 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 the icelandic government should move to the issuing of 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 currencies but by big right now in the us it could cut 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 inside you know that and there's all of the different schemes you can make to bring bitcoin 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 think 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 your sat for punk anarchist mentality. yeah 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 but given that it is the only value of what you stand for. the whole point is that anybody is allowed to do whatever they want but if i'm accepting because i'm going to want the physical because 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 that 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 you can actually see the record on this block it can't be faked it can't be you know false entries are good and so people ask for the real bitcoin is not some big point in bank credit so as of today over one billion dollars worth of bitcoins out there but for bigger corporations it's second nothing it's peanuts aren't you afraid that there's a bigger fish that's going to come in 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 you know it's a system that can't be censored it can't because of peer to peer decentralized network you know 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. money concerns software as open source maybe if you're talking about buying all of the big coins in existence and then that's impossible also because it would just drive the price up you know some if i have a hundred big clients and i see the guys buying them for one hundred dollars what i'm looking 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 two 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 which will start when 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 get him 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 point 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 and. when we have big point cash that would be perfect to our fantastic just really quickly because we're out of time you know this later and assailing expect snowden that actually prove that there is no such system in the internet that that government or the hackers cannot break into. it's bitcoin system breakable into is how i mean it can't be saved because every single system that has

been has come up before it kind has broken into has been broken into why can't we think ok so if we take the internet the internet is a tool that is put out there and empowered a lot of people but the same time while it exists there is a whole body of people who are building tools to track people on the internet to censor 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 bitcoin how to track financial transactions how to sense the financial transactions and how to oppress people and there is also a group of people who are researching how to get around that tracking 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 our society and the really cool thing with these internet technologies is they took the balance 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 leave it at there that was a mere attack a software development for u.k. bitcoin thank you very much for being with us today i'm selfish every night and we will see you in our next edition of servant girl thanks for watching. by.

going to show. you this will consult you updates and you try to transmission makes for a smoother ride bush and scientists comes up cooking its crystals the e.u. says he's laser sight some jerk on one of the take giants comes to town as he updates year on leave the country. that judges a sense own son. killed on the streets. that women kidnapped and converted to islam by force will there be another layer of moses for the coakley christians of egypt to the cross to lose most of us future victims. the way of the cross.

more news today violence is once again flared up. these are the images cold world has been seeing from the streets of canada. giant corporations are on the day. i would rather ask questions for people as if she's a 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.

two people have been killed and dozens injured in egypt supporters and opponents of the ousted president clash in rival rallies military helicopters as seen above tahrir square and vehicles move into car right. the u.s. promises not to kill edward snowden as it flips between good cop and bad cop in order to get its hands on the whistleblower who continues his limbo in a moscow airport. taking people's freedoms or attempting to sway voters germany's motives are questioned as it demands tough a previously regulations worldwide that's after being caught red handed up in washington private data. plus mixed feelings a meeting between the syrian national coalition and u.n. security council a day after the rebel group bargained for weapons when.