it's going to be space travel i think that's going to be one of the more profound changes happening here wealth transfer tour and tiredly new type of people. everyone john wallace bandwagon or is it to write. well it comes and goes i mean if i can't get financial advice if cryptocurrency fulfills that promise and there's no indication it wouldn't. the equivalent of one bitcoin needs to be in the two to five million dollar range but at that point it doesn't make sense to measure it in u.s. dollars anymore because the u.s. dollar won't have any measurable value. so. it is absolutely not to late just like it wasn't too late when the bitcoin was a three dollars or thirty dollars or three hundred dollars or three thousand dollars but this is a very high volatility. this is

a really risky investment and if you're asking me whether somebody should invest then the answer is nobody should ever invest more finds climb a b. another bubble it just like that out the dot coms and j.p. morgan chase c.e.o. jamie dimon compares cryptic heresy to the dutch seventeenth century meaning don't these men have a point i mean a bubble forms when there is public ignorance and most people have they what it is and how it works. i think that i think you have to point the most people don't really understand what bitcoin is it is peer to peer electronic money that means i have a phone here i can use that phone to transfer money to a nearby phone or to phone a phone on the other side of the planet the transfer is instant it is practically free nobody gets to decide whether i can make that transition. and it's

all going to be unnecessary middle. more than anything why i believe this. obviously l'engle unit of bitcoin. a peer to peer to. there's nobody to deny me permission to buy a bottle of water nobody thinks of this but it's there with bitcoin this is not true there is nobody needing to give permission in the background there is nobody who gets to say no to a transaction no money can be forced no money can be seized. here's the big problem for governments in the future taxes can no longer be forced i get all the three points that. you. said like before you said it's traceable with want to cry we know where the ransom money is going but the accounts themselves are anonymous but if we know that there is an

account with ransom money extorted from ordinary users and it should we have the ability to freeze an account take it back no why should you i mean this is either you know that here you are working on a new invention a beautiful convenient currency and people use it to pay for child pornography or to order a hit in someone actually they use the u.s. dollar for that yet i never heard somebody arguing against the existence of the u.s. dollar without argument if you're going after drugs straight down the u.s. dollar is unparalleled in use and i never heard that being used as an argument against the u.s. dollar well the complete implementation of cryptic currency make compulsory and impossible what happens to really live governments then like we will be coined make them is a little interesting oh is that what you hope and isn't it interesting i don't i don't i can predict that the changes we're about to see are so profound. you can no

longer just go in and take somebody as money but the worst you can do as a government is to make them sorry for not giving you giving them your money you cannot force it you cannot seize it the changes this is going to bring are so profound to society. we are going to see a lot of governments panicking when they realize they can no longer just sees whatever money they want. well take a short break right now and when we're back we'll continue discussing what's behind that meteoric rise of oil with break here father founder of the swedish pirate party and cryptocurrency evangelist stay with us.

archie america was required to register as a foreign agent why have prominent media outlets and civil liberties groups been largely silent also making sense of saudi and lebanese politics and not american football and see. what politicians do something to. put themselves on the line. to get accepted or rejected. so when you want to be president. or somehow want to be. actually going to be for us this is what the forty three of the more people get.

interested always at the water's edge. there should. yes a. cloud. she'll be even. still observed in mild form of. the phantom both with leaders of the state and with . the councillors epicenter own up at a meeting they. were sort of my limit was that they let him the make or the here now with jeremy several hundred dollars. now at the five day but the co hello morning fourth another. seal him to make the one we have made for the in the mail room have gone folding clothes are going up to grab me it's because he is so see you so no one allowed to.

you. about your sudden passing i've only just learnt you worry yourself and taken your last wrong turn. you're out to us we all knew it would i tell you i'm sorry i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feeling started to change you talked about more like it was again still some more fond of you those that didn't like to question our arc and i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind gets consumed with death this reply to.

his speech tonight as there are no other takers. claimed that mainstream media has met its maker. and we're back with rick fucking and founder of the swedish pirate party and cryptic currency vangelis discussing the future of bitcoin welcome back rick now do you think that governments can come up with its own version block change currency make it traceable registered and insured or not really ever evades taxes or fines or heights their profits i know banks are trying to citigroup for instance is

definitely doing it right now. there are governments trying there are banks trying there was this sort of mantra or cliched last year on year before last it's not about bitcoin it's about the under innovation of bitcoin called the block chain which is a solution to a really really really hard problem as in the century how do you make sure that a lot of people are agreeing on everybody's account balances. because there's obviously an interest in somebody saying that no i have more money and everybody else needs not agree with that governments and banks don't really think in this way but thanks to think that they can start a block chain technology and then issue more money down the road governments think that they can start a block chain currency and issue more money down the road but the whole point of

a block change technology is that you are trusting in the mathematics and not in the issuer in this way. the block chain a block chain currency versus a central bank currency is a lot like open source software versus proprietary software like apple macro s. or microsoft windows it took thirty years but in the end pretty much every single computer web server is running an open operating system in the same way i predict that we'll go from proprietary money to open money permission less money like it coined. now because if it is if say they crypto currency will eventually replace all regular occurrences become the world's only money but can't get to currencies really work for everyone in the world i mean

internet connection is not permanent saying people in a sri lankan jungle aren't online all the time for instance and have of african people don't even know what a cell phone is to go online hundred years ago we asked. what about the places there aren't electricity how will you use an electrical engine then today there is electricity in most places and where there isn't an atrocity there are batteries there are some specialized cases when you go camping when you go hiking when you go survival training you don't have electricity or internet the way you take for granted but overall i don't see it as a long term concern. you won't have access to the internet because we are just as we speak there's a network of satellites being planned to put the internet in every spot on the globe. atop the reach of banks tragedies current monetary system is too unstable

and prone to high inflation at its student to fail well cryptocurrency fill in the vacuum if that is so i mean how will it change saying king. i think you're spot on there the european central bank is printing used to print eighty billion euros per month just propping up a gigantic bubble happening right now it doesn't do that anymore it just prints sixty billion euros per month in the us federal reserve was printing trillions of dollars and faith in the money supply we know how this ends once a government starts printing money to pay off its own debt the story doesn't have a happy ending anymore it just doesn't history is brutal on this point so cryptocurrency doesn't really need to replace the us dollar replace the euro

it just needs to survive while those behemoths collapse under their own weight and that when it happens it's going to go fast so well they widespread use of cryptic currency while promising a new level of liberty actually discriminate older generations i mean i want it easy for older folks to get used to this complicated digital stuff right well it does it and stand it isn't it is complicated it is too complicated it is it is not usable enough it is not usable enough at all and i agree that this has always been something of a problem but in the nineteen twenties when households were electrified there was a training curve where older folks were being shut out from all these new electrical appliances because they had to really learn so much when computers arrived it was the same thing when smartphones arrived it was the same thing there's always a problem where a younger generation needs to take responsibility for if you like introducing the

elders to the ongoing changes of society. fortunately there is a you there's usually somebody in every family who does that but the concern is absolutely valid and the first time because i was used to pay for a real service it cost a user ten thousand coins to get into pizzas now you guys were seven marion's dollars right i mean thirty five million dollars per pizza i wonder if that mare really wishes it cooked at home cash is backed by theoretically gold or the government's ability to pay debts where did all this in say values come from bitcoin. backing a bitcoin like any commodity it has value because of two simple characteristics it is useful and it is scars meaning that there is not an

infinite supply of it it is useful because i can use it to transfer value to malaysia on a sunday without anybody interfering with to try transmission it's finite because there is only ever going to be about twenty one million bitcoins. those two things make it valuable not that it's backed by a government because it isn't. you know there remains way it's kind of like gold. there's been many cases set with this later latest. setback a case of stealing tens of millions of dollars worth of bitcoins is not really saved you keep your mess and say i mean considering that the hype about its rising value surely attracts hackers like flies to honey is bitcoin has the problem i mean it's really hard to store your bitcoin securely it is a really hard problem that has not been solved some of the best solutions involved

specialized hardware the that you keep on your wrist some some of the solutions involve opening up a laptop and taking out the wifey circuits making sure it cannot ever connect to the internet as o.b. infiltrate from the outside this is hard today but it is going to become usable these are really hard problems and everybody in this community knows that who ever solves that first is going to become really rich as an insanely rich and so there is a lot of money being thrown that that's a good incentive to six is a big business but you know what it's not just the hackers that have a problem there was a famous case of a wire at error for getting the pin code from his big con wallet and using the hackers and it won a hypnotist to retrieve it. i know it sounds funny but isn't it a little harsh on people i mean how can it's so is it to lose access to something

oh it can happen to my wallet or bank account. well it's absolutely can happen to your bank account as the people in cyprus when their bank accounts were when they bank savings were confiscated to bail out the government the government's bank. and the people in say argentina or for that matter any person in south america how safe their bank holdings are they're not they're just not ok maybe it wasn't a good example but the whole bank business is still really tied to whatever crisis is going in the country but you're saying that manage a big coin is that it is not tied to anything that's going around it in the world right so how come it's so easy to access to it something that your own chances are you know getting a pin code just by forgetting a pin code. it is it is data it is data if you can think of it as a file if you like if that file gets into somebody else's hands then you lose your

money if the hard drive with that file on it gets destroyed or corrupted or just dies then you lose your money which is why this problem is so hard. which is also why a lot of people are working on it but bitcoin and the currencies are just in their infancy this problem is be going to get solved just like every single technical problem before it that had so much promise but hadn't yet hit usability we were there was streaming video before for ten years before you tube it in twenty zero six we were there with blogging for ten years before wordpress and typepad hit we were there for about ten years with file sharing before napster it in one thousand nine hundred nine these things take about ten years before somebody hits the right usability key remember this is a technology that was devised in twenty nine it's possible that if we were looking

at a possible mainstream breakthrough around twenty nineteen ten years from then. that the company founding the company who makes this breakthrough has not even been founded yet. great for all the talk of being an internet freedom banner but can't isn't entirely independent for instance the web mention the sea where the us police has recently sees accounts of its clients and arrested one of its founders so pressure can be put on cryptocurrency can we absolutely lot to hale's they can be it can be it can be you cannot point a gun at a computer to get to make it give up its secrets but you can point a gun at the computer's owner and make them very sorry for not giving up that file inside the computer but this. difference that might seem very small has profound effects because it means that governments can no longer just walk in

and seize money to pay people's taxes people have to actually agree with paying taxes and that in itself is going to be profound when governments realize this. rhetoric thank you very much for this interesting insight for this interview we're talking to rick seaney a c.e.o. of call in cash founder of the swedish pirate party and cryptocurrency evangelist is causing big coin in the future of finance that's it for this edition of.

here's what people have been saying about redacted a night this is actually just full on awesome the only show i go out of my way to launch you know what it is that really packs a punch how yampa is the john oliver of our three americas doing the same thing we are apparently better than food at some and see people you never heard of love redacted tonight was the president of the world bank a bundle trying to seriously send us an e-mail. in america a college degree requires a great deal. paying a decade so instead. of studying so hard it requires trust to. go through humiliation to enter an elite society. and paci dead

sometimes quite literally. want other true colors of universities in the us. with more make this manufacture come sentenced to public wealth. when the ruling classes protect themselves. with the final merry go round be the one percent. we can all middle of the room sick. i mean really really. seen years ago i traveled across the united states exploring america's deadly love affair with a gun if

a bad guy tried to get to one of my family member is he would had better live better and i think they are and hurting when i buy my babies says my book was published in the year two thousand more than her. if a million americans have been killed by falling into the us i point out his thought to me as we did this is a middle school we go through drills and we put ourselves in real scenarios it was interesting to see who actually got hit by the gun i just saw tons of the subject to track down each gun owner who i'd met and photograph those years you've got i don't know this but we are not. a a. load.

good. kind of americal now says she prefers not elections to forming a minority government thoughts off the coalition talks between knuckles party and the free democrats break down over irreconcilable differences. that a united states is designating north korea as a state sponsor of tours. present trouble raises the stakes over north korea officially branding your own yang as a backup of terrorism. and the chief advisor to the turkish president calls on paul meant to reconsider the country's nato membership tensions between one crash and

the alliance escalated dramatically after president advani was depicted as an enemy during recent nato drills.