like fees for overcharging customers and and doing the fairies things what about those guys well they will have a war of attrition where more and more their customers disappear and so bunch really there's nothing left so how many bookstores are there in a 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 answers no no that's my short answer. so 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 his own. but i thought i was out that three hundred thousand i think that was a million dollars in the morning so i mean i'd like to see that and i could have it on my show and i'd love to have. my show i mean i might 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 and you know it's on it's pretty remarkable it's almost one percent today and you just follow that compound rate of return albert einstein said the most powerful force in the universe is compound interest that's a quote from albert einstein so imagine if you're comparing a one percent a day warren buffett's compound to twenty two percent a year ok charlie monger by that went on to this big coin prize will be times of fallows and the price of the years charlie monger gets to when he croaks. like you and i have kind of year on year from now. i read 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 prize destruction yeah i mean it's the technology behind it and i think like i think i'll roads and decay. 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 practice 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 and explicitly focus on the process of fair price discovery so we have over twenty million customers that every day are buying some crypto we some of the largest market makers in banks are believe me and i don't have to you know what i will say we're going to do things that 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 future currency into a decentralized digital currency is

a sort of wealth oh i shredded that you know why the waialae 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. in a world as big part of movies. and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bass and shouting past each other it's time for critical thinking it's time to fight for the middle for the troops the time is now we're watching closely watching the hawks.

in the heart of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox ellis was customs are here permanently on the site is controlled by them and they impose the opening times. opposite it is from his office the procedures in place of the strictest in all europe masterpieces by artists like pecan so and modigliani i can't boards and sold inside this warehouse that's where the report comes in it covers up deals which are naturally discreet commercially discreet effect but also discreet because they concern fraud of some of those paintings are linked to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport the physician will never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousands is it

a matter of confidentiality only is it the world's black box of the art business. welcome back so the cars are parked imax keyser yes i'm still money calm skies a report calm 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 vander spray. thomas vander say now first of all i must say that the reason i pluck you from the crowd is because you have a cool jacket on thank you for what 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'm just dining out now you're on the kaiser report ok so you are with bit fair what you do it is fair but face prices starting who are you waiting 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 predominantly short quins for the first time so i think on then i can take a position on a new old queen or down south africa a year from south on some stuff is that you'll see in south that unfortunate not by studying and we chose angola just because it's much safer to do that while you may 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. that africa the political posture toward crypto 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 the interest of you know in the conference here may i call

you thomas yes i understand there is some talk about regulations the point being made that if various countries at the regulations. not 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 know we don't have the friendly environment inside africa and we jump shop we set up in another country fast to buy my taxes it's a friendly government i would lead to do it right ok now you're from south africa you know rand nooner i do know enough see. africa 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. ok we won't comment on that i just thought about it fair so that is fair you are starting to tell us a little bit about it you are 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 so i can go short it i don't have the ability if i do all the old coins i can sell it i can buy it back cheaper than i swear i can profit but i can go short if i do not hold it so this is something you want to just solving but obviously we understand the liquidity volatility risks we broke as fifteen counterparty risk and we had 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 world will not work so but faith trades exactly like to see if you if you choose to be you go on the you can buy and sell but the financial contract is a very innovative option is saying that options don't work and b. just out of liquidity or what options to won't work because crypto trade is still trying the underlying token itself now in the financial rules most traders will not

trade in on the financial that day trading in the derivative of that so just shows how we are far away from maturing the trading. market in proposed not to be able to do this we have to eliminate a broker 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 quince but fe we're going to. rely only on that sample get a better set 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 here so you're you're just matching buyers and sellers without 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 to name but as well 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 in not 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. virtual a virtual contract on a virtual coin as 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 but face it to be matched into a small contract we call it a small options contracts so that you know the liquidity you reach that we office

through but fate is not one thousand times but it allows us to hate join sure a position over time be it fifteen minutes be. i would be at a day seven days up to one thousand times a bit max and hong kong is our friend they have a hundred to one lottery 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 way right and i'm not just trade on a thousand times leveraged caging my position if you're responsible it's a beautiful vehicle but if you taking a risk gamble speculating in 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 hedge your portfolio as well as to speculate if you have a large four 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 base it on live fair yet it's not on but face life i get as i said i can't believe i leave here i'm sorry i said a sudden outburst there but if i had a portfolio of all these things and i wanted to sell them but 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 to 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 psychic astronomic wonderland. narrow salad followed by

light point soledad what are you talking about the sense things are tastings tasting. tasting testings. that accent so i can tell fluffy pony yes i do for him and friends if so often he's south africa. really what's going on down there you guys are crazy 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 let it go and rest 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 up and down exactly like chris does at the moment people say ok it does evolve i said have you seen the south african rand makes. for good 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 south africa there's a move to crept out and they see that as a safe haven play 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 they said 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 into crypto maybe we do what he says it's still early days once inflation takes in the currency loses value on a fee 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 the current system of it cannot survive the woman survive it won't collapse eventually will 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 dominos and there will

be an image starting over into corrupt or when i face a situation where i can buy say my amount of money that buys a house all of a sudden basel. of grade one year later i'm obviously i have to go into i don't even i do not have another option what about comparing a product to a bank or bank or offers kind of pair or trading and they offer liquidity that's their service how do you compare what bank or how does it from from liquidity is important but it's likely to focus on a derivative. and a cryptic strange traditionally liquidity is very important for exchanging. liquidity is also important but we are matching trades so. 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 i.d.c. but it's good to be there's always a 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 a platforms like red faced sitting up no. exchanges but the 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 come afterward i'll second oust second laos but phase and exchange a slightly different to what we experience but tricks. finance but for next what

we've done with the exchanges that we've allowed any enthusiasm and you could change your opinion to someone to betray and split up or launched an propel exchange within three minutes how much capital of the rest. so it's too dangerous for us two point one million dollars we i mean to do twenty million by the end of september launching on the first of october well that's a kind of break capital should be able to us that's the max and stacey ventura krypto fund well you should especially now that there's no it doesn't say but we could consider this way like exchanges we like you we like rand we like fluffy pony we like zebras that is way down our diligence you should come to africa more opportunities right on there all right thomas vander spender sprite better supply thanks for coming on the guys report thank you so much well that's going to do it for this edition of the kaiser birthday bash geyser and stacy herbert thank you thomas vander spy 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.

glad to see she was good it was because on. the screen i mean i well me and my. mom i was.

only three and the reason. well what's. come of this from the. winter is it. seems wrong. to me to get to shape out these days comes to educate and engagement equals betrayal.

when so many find themselves worlds apart. to look for common ground. with the three hundred world russian maritimes architects britain are the largest international congress on the development of magazine july seventeenth twenty second so write your part business program interactive exhibition urban details on forum dot com. they search the future world cup will decide which teams from group c. and d. will join france and croatia in the last sixteen and it's a nervous time for leno messy and argentina. while deadlocked founds all congregating near red square as their crucial encounter with france kicks off in moscow's

a huge nikki stadium in less than two hours. in other news on t.v. correspondent paula slater is denied entry to ukraine and she heads to a human rights conference dedicated to press freedom. and see u.s. officials are hounded by groups of anti trump protesters using tactics from stalking to chanting to make them feel comfortable wherever they go. well thank you for watching the news headlines here at r.t. international broadcasting live from moscow i'm kate. and it's another make or break day this tuesday at the fee for world cup with the for final games in group c. and d.

indeed croatia are already through to the knockout stages they take on iceland who still have a chance of joining them and let's see what our top pundit manchester united manager josie radio thinks of the team's chances. personally grisha if they're playing to qualify in these moments i think ultra competitive match. they both know how to compete i stand more tactical asked on more physical crew issue with more experience with more control because of their technical ability but i would see we dollars being in in confrontation two of the big teams of two candidates for i would say even top eight this can be a good match. well as you said day thirteen house four matches that will determine which teams from group c. and d. will join france and croatia in the last sixteen in group c.

australia will face peru who are already out and denmark or take on fronts while in group d. nigeria play argentina what a game that should be and croatia meet iceland and here's what group c. looks like out the moment france a top i'm st to the next round with six points denmark are second with four points but the much which we australia and per you could change that the socceroos could qualify for the last sixteen if they beat prove in denmark lose heavily to france. for me while denmark fans are gathering in and around red square ahead of that game them out playing france at moscow's luzhniki stadium in less than two hours french fans of course are also in russia to support their nation.

whereas throughout scripture this little girl will go these are required before three or. four year old she is swatted who are about to go to stud you know they're going to try to talk to keep a hold playful secure should do so for rico the supporter for the. cause of the match and i just bought the machine you call yourself lucky because it's now you feel you are the biggest you could be or you didn't. hear but you will see incident in the cheap. seats for that we'll skip the last weeks do some walking to see your. child to go in the. universe on which ever to come into specialty.

oh oh. oh oh oh oh oh oh oh. oh oh to the breeze also the cold before you some old old old old version before all those billboards the world will. help us we're both good for you though they're going to be those of us who are very culturally but. this is for the grill what it was horrible for both of you if you're so sure but. well here are the standings in group day croatia lead with six posts which as we've already said puts them in c. the last sixteen next on nigeria with three points i sent an option tina have just

a point however today's action could change everything with all three of the trading teams still aim with a chance of qualifying. well monday's encounter has brought plenty of goals and lay drama spain and portugal in group b. and russia and year ago in group i have made it through to the final sixteen and portugal when i face you're a guy with russia taking on spain well let's take a look at the highlights from day twelve. theo. theophanous . thief

we. was. we through the. through the we. was i was i was we was. we. were in the runup to the world cup some in the british media seemed less interested in the beautiful game and more in scaring the fans off threatening headlines warned of russian who lincolns and violence during the tournament but it seems the predictions didn't turn out to be

a lot of accurate goes down off takes a look. a celebration of unity good sportsmanship and an inspiration to a future generation of athletes in other words something that world cup twenty team they fear north to promise to all those english fans who were willing the options in front of them to visit russia or to stay. the whole time we've been here initially it seems there's been somebody following as at least one car sometimes three i think there's one of them so we're just off red square and russia is preparing for the party and they are a taking no chances and be letting the world know the taking no chances but let's be frank the media is notorious for seeking scandal and shocking content but it wasn't the only voice in the scaremongering choir due to heightened political tensions between the u.k. and russia you should be aware of the possibility of anti british sentiment or

harassment at this time but despite the most ominous prospects ahead of them a handful of english fans are still bought the tickets boarded the planes and integrate for the best and the best happen to english journalists here in russia they backpedaled on the doomsday prophecies they previously made a team england qualified for the rounds of the best of sixteen and importantly doing so with a fraction of the support they could get from the strands i'm sad that there are more english people here sharing this wonderful football fest for because it has surprised me the efficiency the welcome just the warmth of the russian people has really really impressed me and i just wish more people had a chance to experience it firsthand how so those who initially got scared off by all the alarming predictions are now scrambling to get their remaining tickets with their wallets varying the brunt of the last minute purchase so our team could help with a bunch of a few strands to get their impressions from tran very like a cross off so i took the train across and then i was here for the workers are

advised to travel on my. new zealand passport and start of on an english possible because if i said that i was an english person i'd get a lot of hate and abuse like russian people but that's just false i have never felt unsafe every time i say that i am english it's always been fine i was no more fearful of coming here than any any other international tournament really not any problems with the russian people they're all really friendly if we start helpful i think my mom still thinks i'm going to. have to go to the i'll be there if it's something that's going to happen but it's not going to have a drop come on people to come to the world cup come to russia just enjoy the football especially when england win so people are just people it doesn't matter where you're from. one language we all speak a school paul we all enjoy the game. and we unite around a lot of the team is doing well we weren't two games zero two so far along.