do you think they have something to break and see this space or should date just you know don't you know they don't they really nothing no value to add to it to the space and financial times this morning and said half banking jobs are going to be eliminated came up all the back office ship blah chambers is becoming law change is great for banks because they take all those back office jobs of matching trades i was a stockbroker for many years and the whole antiquated system of matching trades and clearing trades is unbelievably byzantine and so this is all going to be done away with with block say ok so that's half the bank's gone what about the front office the guys are just there all day and just collect ron t.a. like fees for overcharging customers and and doing the faeries things what about those guys well they will have a war of attrition where more and more their customers disappear into old vengefully there's nothing left so how many bookstores are there you know free

standing mom and pop bookstores are there you know after amazon came into the space very few they came and they're just there's the there's stores there's no room for them the answer is no you know that's my short answer. so the last one on bitcoin the question everyone is burning to oscar price in a year in five years where do we stand i kind of want to see it get to the that price at which john mcafee says he'll eat is only half what i was that guy is that it's hundreds as i think that was a million dollars only in the line i mean i'd like to see that and i can't have it on my show and i'd love to have an eight on my show but i did write a lot now so i think it's going to get to a million dollars you know i think if you look at the rate of compound in you know it's on it's pretty remarkable it's almost one percent a day and you just follow that compound rate of return albert. feinstein said the

most powerful force in the universe is compound interest that's a quote from albert einstein so imagine if you're comping a one percent a day warren buffet's compound twenty two percent a year ok charlie monger but when i took this big price well being times a thousand the price of the years charlie munger gets to when he croaks. luck you're right i'm here i'm here for you know. i have it i think it's going to keep going up i don't pay as much attention to the price i'm more interested as a price destruction yeah i mean it's the technology behind it and i think i think all roads and indications lead to more demand for this as an asset class it's the most secure it's. fixed supply there are a lot of things going for it that i don't see other. necessarily fulfilling that

store of value functions so i you know i'm i'm a holder. so from our perspective point is from one of the world's largest exchange operators we tend not to focus on the price explicitly focus on the process of fair price discovery so we have over twenty million customers that every day are buying some crypto we are some of the largest market makers in banks as are many of me and . you know what i will say. i do think in our lifetime we will see this asset class emerge as something that everyone has a bit of exposure to and i do think that if we move ourselves from western developed countries like the united states and europe this doesn't solve the real problem in more developing economies and i do think in our lifetimes we'll see a grassroots movement where people of those nations start to move away from their own feet currency into a decentralized digital currency is a sort of wealth oh i strata that you know why. it's to honor my good friend charlie that is why of course they from their wedding story to the second i have a whole lot more. coming your way.

to. apply for many clubs over the years so i know the game inside guides. football isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the superman each kill the narrowness and spending two hundred twenty million and one player. it's an experience like nothing else i want to because i want to share what i think what i know about the beautiful game played great so one more chance with. and thinks it's going to.

welcome back so the cars are parked imax kaiser yes i'm still money come from kaiser report comps yes and the great thing about event like this is they meet interesting people with new projects and sometimes these are things i'm just learning about at the same time you're learning about this stuff and so i want to introduce at this point thomas fandor sprite. taliban or say now first of all i must say that the reason i plucked you from the crowd is because you have a cool jacket on thank you so i want to deal with that jacket was the closest jacket i could find that represents block chain right right i need to stand out in the crowd so i mean standing out now you're on the kaiser report ok so you are with bit fair what do you do it to ferret face crisis we're starting who are you even there i am one of the co-founders you want to call it is there's

a lot how old is the company companies started in march last year we started building out platforms already both going live in the first of october it's a trading platform allows us to buy short predominately short for the first time so i think on then i can take a position on a new old queen up or down south africa a year from south i'm from stuff is that you'll see in south that i'm fortunate not by studying and we chose angola just because it's much safer haven to do that's why you need talk to me it's not regulated in south africa it's not unregulated in south africa we don't know where it's going to go so why incorporates way we on show. south africa the political posture toward kryptos and. so you guys figure hey let's go to some place where we have a little board transparency and that is angola and go off as a stove to act they want to act regulates utility tokens so it makes obvious sense to regulate or set up in that respect you know in the conference here may i call you thomas just under stylist there is some talk about regulations the point being

made that if various countries at the regulations are. friendly decrypt has the ability to go jurisdiction shopping they can go wherever they are most welcome to comment on that one hundred percent exactly what we did you know we don't have the friendly environment inside africa and we jump shop we set up in another country for us to buy my taxes it's a friend the government's own bed to do it right ok now you're from south africa you know rand nooner i do know enough. he's an african and i'm from the previous company meant to visit the same as someone in los angeles again we catch stuff he says to the rumor that before he got into crypto he was a pole dancer at a strip bar we told you. ok we won't comment on that i just thought about that for so that it's fair you are starting to tell us a little bit about it you were saying allows me the user to take a position along our short on a hundred all to yes

a little bit more about that today we cannot shorts i thought believe that gold silver whale of a prized apple stock says i would buy us i can go short it's i don't have the ability if i do all the old coins i can sell it i can buy it back cheap and that's where i can profit but i can go short if i do not hold it so this is something you want to just solve in but fail obviously we understand the liquidity volatility risks we brokers fifteen counterparty risk and we have to find a way to eliminate that so it's a very innovative derivatives vehicle underlying it some option now clearly if we had to introduce options into the trading will be will not work so but fate trades exactly like you see if you if you choose to be you go on the you can buy and sell but the financial contract is a very you know bit of options here saying that options don't work and b. just out of liquidity or what options to won't work because crypto trade is still train the underlying token itself now in the financial rules most traders will not trade in the on the financial that they trading in the derivative of that so it

just shows how we are far away from maturing the trading my. in proposed not to be able to do this we have to eliminate a broken there's no other way if we have a broken in the middle no one will take on the rest and that is why today we cannot short so. why are you on that sample that a better said get dive into your logic care because that's going to be a big part of the bit fares value proposition richard beer or logic if they are approaching all this stuff so you're saying that. your statement let's examine it you say you can't have brokers you can't have middlemen you're so you're you're just matching buyers and sellers without base without an official as a broker in between yes in a lot of ways it's like a company that has a similar name called bet fair hundred percent as a fair statement it's a very fair statement since the name but says whoa is that right betfair introduced betting that is getting rid of the middleman as well they just are matching their

peer to peer betting so this is peer to peer market making all toys how is it different than let's say shape shift so in our case we trading in the rivet of all of the token it gives us some leverage to that so some people like margin trading on average some people call it gambling as good faith with the model we can down but going up to one thousand times they were gay so you don't have an inventory of coins you do not pure virtual virtual contract on a virtual coin so the rivet of the underlying financial contract exactly the financial markets work today they're just no counterparty renaissance brightest and so do you have capital risks no we've done because every trade on both face yet to be matched into a small country we call it a small options contracts. offering that's you know the liquids. rich that we office through but fate is not one thousand times but it allows us to hey join sure

position over time be it fifteen minutes be it a. would be a day seven days up to one thousand times bit max and hong kong our friend they have a hundred to one leverage yes and that's going to be insane that he's insane you guys are going insane to this route square root of insanity yes hundred percent a thousand percent leverage yes some people need that that's an interesting word need sure they need it or are some people crazy well if you trading capital risk one thousand times yes i would agree you're insane you're crazy but if i'm holding one thousand times in a while it's right why can i not just trade on a thousand times leveraged paging my position if you're responsible it's a beautiful vehicle but if you taking a risk speculating that leverage becomes really dangerous yeah let's be clear about something so in the area the types of hedging products they can be used to hate

your portfolio as well as to speculate if you have a large part for all your fault lines you can use bit fair to hedge your position if you had a large position in life coyne or minera or max going on or off max going to get ready on bids fair it should be set on a ledge fair yet it's not on but food life i thought as i said i can't believe i let you leave here i'm sorry i said a sudden outburst but if i had a portfolio of all these and i want to sell them what i wanted to have some hedging protection how long he has been up and running so the platforms i mean launching officially on the first of october that's going live on the first of october how many technology people developers you have working on so we've got a team of nine on the project and yeah more than enough on that project we build it we're running the final security tastings and we've got to physically go away to tastings tasting what is like a gastronomical wonderland. a narrow salad followed by light going soledad what are

you talking about the sense things are tastings tasting. tasting testings. that access so i can buy you know fluffy pony yes i do from when friends of softies south africa african really what's going on down there you guys are raising we are one of the biggest topics on google it's i think south africa's number one on the treaty as to whether what's going to. split it will unrest you know we are an emerging markets we're literally a first time tree but we're stuck in africa and we think that's doing not so often down exactly like chris does at the moment people say ok it does evolve i said have you seen the south african rand. figure and we're in the same boat. what do you think about let me ask you this question the emerging market currencies are in freefall against the dollar and there is countries like venezuela argentina maybe

the south africa there is a move to crept out and they see that as a safe haven play yes under what you know you're in south africa and any time i have so i went to south africa i like to say they are very politically aware because it's a political hot spot for decades is what what do you think about this as a safe haven for emerging markets why how come you don't see more people in argentina and venezuela flocking in to crypto maybe we do what he said. early days once inflation takes in the tyrants he loses value on a few that they will they they won't go over you know it's the same way americans in my view sometimes a lot of americans don't even understand what is happening there the current system of it cannot survive a woman survive it won't collapse eventually we'll see these countries for like dominoes you know we've seen it with some bob we've seen it in cyprus greece argentina looks like they're being bailed out now venezuela is in the same situation one by one these countries will collapse like dominoes and there will be an image starting over into crypto when i face

a situation where i can buy say my amount of money that buys a house all of a sudden buys a loaf. brayed one year later i'm obviously i have to go into i don't know i do not have another option what about comparing a product to a bank or because a bank or author is kind of para trading and they offer liquidity that's their service how do you compare what bank or how does it from from liquidity's important but it's like the defense on a derivative in a cryptic strange tradition and liquidity is very important for exchanging. liquidity is also important but we are matching trades so today the best way to explain it to most people is that the way we see trading going to buy and sell something immediately the reason why it's immediate is because it's a secondary market and if we had to go back in the region where how an exchange had to work everything was easy but it's good to be there's always the one on the one side is always a loser on the other side of the trade you know today because of the secondary market we can do these kind of things we do not have the luxury in old coins and

yet it's extremely volatile and it's not that liquid so this is why platforms like red faced sitting up no. you see exchanges are ones institutional investors come to the space we are the leaders we will be the leaders to take on these institutional investors and bring on say can be trading market is completely opposite of the whole history of finance going back to her heirs you're saying that derivatives which are not. equity contracts that are helping supply some liquidity and hedging techniques that can after the introduction of these products you're saying since those are coming you're going to introduce that derivatives first and then after it was a zero zero lunch you're going to they're going to add the actual products later the equity products and if you like they come afterward i'll second oust second laos but phase and exchange a slightly different to what we experienced was betrayed. finance but for next what we've done with the exchanges that's we've allowed any crypto insouciance and you

could change your opinion to someone to betray and split up or launched an perplex tranche within three minutes how much capital of the rest so. she died for his two point one million dollars which i mean to do twenty million by the end of september launching on the first of october well i think heisenberg capital should be about this that's the max and stacey ventura crypto fund for you should especially if i wasn't there so it doesn't say but we could consider this we like exchanges we like you we like ran we like fluffy pony we like zebras that is we've done our due diligence you should come to africa more opportunities right there all right thomas vander spender sprite better supply thanks for coming on the guys report thank you so much all right well that's going to do it for this edition of the kaiser birthday bash geyser and stacy herbert thank you thomas mann aspire he is the co-founder of bit fair down there in cape town if you want to catch us on twitter it's kaiser report and i'm.

quoting. on. the screen. and i.

always feel. these are just insane. this. is it. diminish. i was.

spain portugal as well as russia. through to the knockout stage of the world cup after a dramatic day of games before the matches those clowns were out in full cheering on the. lead a little. little. before world cup is set to determine what other teams from group c. and d. apart from france and croatia go through to the next round but also in some other news here on an international today. see the u.s.

administration officials are being hounded by groups of anti trump protesters using everything from stalking to chanting to make them feel unwelcome wherever they might go. welcome to the program here want to see international just off the eleven am on tuesday now with your top stories and your very latest action. so it is another crucial day at the fifo world cup in russia with four matches being played today in group d. croatia are already through to the knockout stage they take on iceland for whom it is still possible to advance so let's see what our top pundit manchester united manager. thinks of this team's chances.

as in the if they are playing to qualify in these moments old for a competitive match. they both know how to compete. more tactical more physical crew issue with more experience with more control because of their technical ability but i would see being in confrontation two of the big teams of two candidates for i would see even top aides and these can be a good match. monday's encounter has brought plenty of goals and an awful lot of late drama spain and portugal in group b. and russia and europe why in group a have made it through to the final sixteen portugal will now face europe why with russia taking on spain next so will former denmark goalkeeper peter schmeichel and neil harvey bring you a round up of monday's match action. it's.

not the result they were looking for peter. you know it was one of them games they went on pretty early on it was on ten minutes luis suarez with a free kick he is a clever little side i have to say that he just finds an exploit every little weakness in the defense with a goalkeeper but the second goal obviously comfort it's now been given as an own goal against jerusha we thought it was and so the shot came in and it was from diego lax out this is on twenty three minutes and cherry said really didn't know too much about it actually fed no chance very bad start to kneel down and things would get worse thirty six minutes small because he said came in given his big will cut chance at right back and he blew it two yellow cards and off in the first half

and when we show the third goal to kill bonny go they were shouting the rest say they're still chanting so they're not you know that they're pretty pragmatic they understand the three of you and there's still plenty to celebrate we have to say goodbye to players now on and one of those players that we have to say goodbye to is this fellow here mohammed and i didn't play in the first game we had this shoulder injury that he got from the champions league final. you played in the second game scored on a pencil here he shows his true class and it's just sad that you know players of that caliber on quality but they're calling home one particular player who was very briefly but extremely brightly in this competition this is the goalkeeper at el hi daddy who has just become the oldest player ever at any position to take part in a world cup at the age of forty five and this was in saving a penalty he keeps his team in the lead on his first ever gain weight break. world records and he pulls off

a fantastic effort like that i mean that's what he will be talking about the grandkids and a great grandkids very very late into that first half was actually forty five minutes past six very late into that at his own time there was another person another penance and this time. he could not do anything about it and there was late drama to come you may have thought two teams already out of the competition the still warm warm they both would have been already thinking of packing their bags what are they going to be doing next week maybe pre-season training no no make a late winner and it went to saudi arabia found out. during. this game did mean something to people though you have to remember first of all it takes an awful long time to qualify for the world it's a two year process there was a lot of pride at stake today for these for these people everyone involved with saudi arabia and egypt and whatever came out on top of this also have a little bit of bragging rights in the region and i was just having a flick bankhead only at the one two games previously world cup final so it is

a significant one for the country and for the fans to not chip another one. spain and portugal play with the big boys of green bay and they have made it through all that it exotic dramatic fashion with some very late twists and turns because michael's watching it alongside me and we there are lots of issues in ours and it's great to see that even after having played at the very highest level in so many competitions to get so thrilled it's been fantastic it's it's you know it's just fantastic football is just showing itself. from its absolute the most perfect . marco's of course out before these games will be played in group b. but what a performance they gave us and they carried the excitement in. b. from the very moment the game started and for the very moment that the game between

portugal and iran finished we had like goals and it's becoming a regular thing now we should really expect it was ninety minutes is up expect the goals to come early goal action as well though so this is how it all started and it was a surprise lead from morocco. on forty minutes and would you fancy day one of oh no. that's maybe the how does one have as a goalkeeper where you you are straight on the goal because there's no angles you can close down you just have to wait for him to sit through and see what he does you can really sort of show him in the side open the goal up and away and then of course iniesta of that i mean one of the best players in the spain's team he got the ball on the left hand side and a just no barry is performing at a very high style of the whole run here but that was a fantastic one two one two one to run and you get to the via line here and just

a simple fall back to is cool took a cool touch and then threw the bow and kicked the ball up in the top corner fans going crazy because that's thinking not only we got our first goals of the competition we've almost got three points in the back and they were excellent the game was excellent they've really tried to win this game of football they can go back to morocco now with a lot of pride and they can help hold their heads up high. so let's see what happens in this portugal round game because the said there was like drama there as well it was going to plan wasn't it late in the first off or with one of the best schools goes goes in the in the tournament was was a that the goal scored in the fifty five forty fifth's minutes plus two again so we can very late into the to the forty five minutes of this is ricardo. and that is. that is just the beauty corner. i have to say i think i think it's

safe to say that iran was the better team in the game they were that was so small intent they wanted to win and they wanted to play the game or push on another as was the talk about he's desperate to stroll the same route down in itself another moment maybe this explains why we're getting seventy minutes of injury time because of all the follow. in an awful lot of things that's. three and a half minutes of discussing and giving yellow cards and the referee not handling the situation very well. the steps up and you know the goalkeeper say so and we've seen that as well and that that misses will it's significant for now though because that would have put him next to hurricanes in the golden boot competition and that is what he goes for on a personal level he's not made no secret of that but he wants to when he had the chance in the first half he misses penalty and then it went to another moment and

he gets a yellow card out of it once it goes to a vow and the referee decides that that's an elbow to the face there's only one solution to that and that's why you had a very but it gives him again. these guys down below if they just don't give up and some of the fans why would she when you come to such an amazing let's just come here and see your country play check this.