bearing in that that people commonly make that mistake by confusing the consulting services of ripple the corporation and the token absolutely and so would you say the token gets. placed on the spectrum of valuation is it can you make a call to say it's overvalued or undervalued or i don't care i guess so at some point it's undervalued at some points it's overvalued really depends on how the market's going to react to a particular piece of news i think no one can come in here and tell you that the fundamental value that they can build a model for any coins or anyone who says oh this coin to revalue this coin is undervalued maybe on a short term technical training basis but you know on a one year to year basis you know has anyone are you coming out with your report on max coin. i might need a few million dollars for that first oh. ok i understand well i heard it was undervalued but you know that's my research and i know you know i'm

a slightly you know i have an opinion about it so let's talk about a theory of. the second biggest cryptocurrency after bitcoin there are about moving from a proof of stake instead of proof of work so explain the differences between these two models and what your thought about that i mean for proof of work is using actual physical real world expenditure of resources to validate blocks which solves a number of cryptographic problems in the byzantine generals problem that a cryptographic paraphrasing here proof of steak is people staking that they own a particular portion of coins and using that to validate blocks now there are pros and cons on this and you know theorem stands now i think it's going to be very difficult for them to completely remove proof of work from their consensus algorithm not the saying it can't be done but i think it's a lot more difficult than what people imagine they think ok. taluk and co have said

to those eighteen who wouldn't approve a steak and they take that as gospel it's going maybe that will happen but the road to that point is going to be very difficult ok fair enough a very diplomatic answer so again you are really just in the business of making markets and you don't want to take you know the opinions you let the market decide absolute right so it may be put out some excellent research. and which is great i see a lot of the exchanges in the business seem to be moving to malta you know malta is attracting a lot of the big exchanges a lot of traffic what's behind that and would you ever consider it so i mean at the end of the day we want to be wanted and i particularly like that you start the song i want. to why. we have all these businesses generating high paying jobs paying taxes and at the end of the day being snubbed by financial institutions and governments when at the end of the day governments should be supporting an industry that is employing people and paying them

a good wage and let's explore that first i can say you want to go where you want it in other words you've got huge business you've got huge revenues you've got jobs so you can jurisdiction shop and go where you're wanted and because the idea that these governments are going to either work individually or gang up and get rid of this threat as they perceive it cryptocurrency is false they will fail so you're going to go where you can get the best reception and so it is a game theory on a big geo political scale in other words the only way that this is going to work is if all of these governments work together but according to game theory at least one of them will break ranks and say you know we're the underdogs we want this money we want the business will take the business to heck with you guys we want to do we want the business and they'll run away with it i don't think most i don't think there's a uniform governments believe exits the spectrum in terms of you know what their particular social political system we did we live in apiece. air of peace exactly

and low and harmony here everywhere they go you guys always war so there is always the government that wants a high paying job in a particular jurisdiction or a territory or you know take the united states a particular state that's lobbying for a company to move their headquarters from california to x. right and then they'll throw all sort of inducements to get them there it's the same thing with a national in the national or you know federal global level there are jobs to be had there's innovation to be made do you want your country to be in the next phase of the development of financial services for many or do you want to stay back in the seventies and eighties and you know governments will self select them selves on the particular pendulum and the jobs will go to the place that wants to be innovative. well actually only about their other haystacks making the cars report they very much that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guests arthur hay c.e.o.

of they want to leave bit met if you want to reach us on twitter at kaiser report until next time by all. means do so. put themselves on the line they did accept the reject. so when you want to be president. wanted. to go and. see what was before three of the more people. interested in the war. moved. when i was child's seemed wrong on one old roll just all. the way to get to shape our disdain you can stick to it

and engagement equals betrayal. when so many find themselves worlds apart we choose to look for common ground.

you never know what's around the corner you never know what's in the pub you going to walk and you never know who's going to be there in the psych simon it's that not knowing that's where the adrenalin much comes from five thousand. illegal is amused by definition and extremes to all for your support because you're prepared to fight for the reputation and name of your football club. the violence is a part of it and it's the schizophrenia gang culture like it's a part time gang culture where you can do all these things and be a bad. i.

believe in islam is that least if you don't i mean evolves it's constantly evolving . vertebral market zero zero. zero zero zero zero zero zero despite owning three restaurants he still prefers to tenderize and grill me to himself it isn't just his stuff and clients who called him the shelf shelf is the nickname of the founder of the wise men from gothenburg one of the most violent gangs of football hooligans in europe. back down extremity and into heaven anyways

it was promising to do so good to football he wanted a family and everything in stockholm about it and now it's all more violent supporters and for them yes it was kind of nice it's all a bit so it ought to be doing trips over there risking pubs you know just to rest people and a few us finally had enough and like ok it will fight back. from being it's more like self defense most of all booed and sort of we've had to go to this is that it is more or fans started going to trips abroad. i mean standing up i read stall or wrecked stuff a stabbing was there it started in a face of before is a small like old school fighting storming pogs closing each other you know rewards you know people are using sticks and knives and bottles and everything would be going to get you and some chairs now it's more violent but there roylance was more respect and didn't have any leads and actually want to kill each other. and indiana that i die when i was actually died now it's more sportsmanship well for this fight

. i don't i don't. i. don't. get together on haunted posters both stated tykes forum is wrong sixty plus some say. when young you really have to show yourself you have to participate in all the fights you have to go to games. or if i think it's really important if you and i will be along you can play can blame oh my girlfriend don't want to go we had to go. thank you thank you. for the unfussy fight maybe six times a year i mention be too old to get away six times a year well. they're.

trying out these days you're going to have to train at least three times a week. and you won't cheat on your part of my show you know i mean i've got to take out all of twenty five the strongest try to sell me trying to foist on us my father to the team so you don't want to have someone who's just hanging over. me. oh no. no oh well. almost everyone uses might show some members from stay. bassists starbucks is.

saying and i'm in may and i'm going to we try to train together here in. grand point that we did i think we see on monday for when they come whether we're doing you know they're going to try to get to a new number salute them on with a piece and stuff like that so it's different every day. because sometimes we both are secluded gathering and sometimes we need to be in the central time if they want before or maybe a year later but there's a one to four team tone and we miss the group but also. the best way to find them is so if they're stuck. or just follow them to do something not to let them know before today most of the game it depends. i think there is still. the pub so we don't have a team firefight we thought bless us with on third person usually. the one to three

minutes let's get it to we. got them. on the ground or they run away or both they're going to save. and so technical it's more about sceptical numbers feel some one on em games yeah ram and bang and everything so if we stand out we got sold. you got you know you know that it was interesting. because of all of the on screen from scandinavia that probably the most crazy i think that any one of the most right wing fans. that's quite scary. extreme for. the wise men and badly boys such all of those guys it is

all about the fight becomes about the confrontation clubs know every game but when you've got a local rivalry it will be if there is any vanity it will be about who comes out on top. of the list. came into the room in. the greek capital is divided into zones of influence between the greens and the reds and i goes into

libya because supporting hooligans. are just like every becoming a different. kind of thing if. you know forgot all about the law after for the amounts they come and where are the same difficult go. but i know many of the in the somalia live it only comes to ministers under sexual scum summit and we sample moscow this is the bulldog where i get it's a phenomenal mixi like it's one of only.