charlie monger but it went to this big going price well being times a thousand the price years charlie monger gets to when he croaks. like you are right i hear your friend. 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 i'll 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 some of the largest market makers in banks are believe me and. i think you know what i will say we're going to. 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 and currency into a decentralized digital currency is a sort of wealth oh i shredded 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 have a whole lot more coming your way.

join me every thursday on the alex salmond's show and i'll be speaking to us from the world of politics. i'm sure i'll see you then. in the heart of the swiss alps there's a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox ellis with customs are here permanently all 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 felt but also discreet because they concern fraud. some of

those paintings are linked to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport so for the time that you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand 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 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 if it's fair that face three stage process was 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 company 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 opens for the first time so i think on then i can take a position on a no up or down it's in south africa a year from south i'm from soph is that you'll see in south that unfortunate 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 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 not just the you know in the conference chair may i call you thomas yes i understand there is some talk about regulations the point being made that if various countries at the regulation. they're 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 for us 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 that he says that they were aware 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 other let's talk about that fair 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. a little bit more about that today we cannot shorts i thought believe that gold silver oil is overpriced apple stock says i would buy us 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 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 that some option now clearly if we

had to introduce options into the trading will be will not work so but faith trades exactly like you see if you're a future would 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. just on a flick what are your what options 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 on the financial that day trading in the derivative of that so 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 quince but they were going to do the. lion he wanted sample get a better set get it done dive into your logic care because that's going to be a big part of the bit fares value proposition richard beer or logic and 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 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 that fair hundred percent is as a fair statement it's a very face statement since the 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 sure to all toys how is it different than let's say shape shift so in our case we trading in a derivative of the totem it gives us some leverage to that so some people like margin trading on average some people call it gambling 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. 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 but face it to be matched into a small country we call it a smart options contracts. offering that you know the liquids. rich 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 the. i would be at a day seven days up to one thousand times a bit max and our friend they have a hundred to one leverage yes and that's just 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 gambling 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 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 yeah it's not on but food 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 and i wanted to sell them what i wanted to have some

hedging protection how long he has been up and running so the platform's 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 for 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 to tastings tasting what is psychic astronomic wonderland. a narrow salad followed by light going so bad what are you talking about the sense things are tastings hastings. tasting testings. that accent so i can tell fluffy pony yes i do from when friends of softies south africa is 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 on. political 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. 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 a countries like venezuela argentina maybe south africa there's a move to crept out and they see that as a safe haven play yes and you know you're in south africa and any time lapse i went to south africa i like to say they're 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 decrypter maybe we do what he says it's still early days once inflation kicks in the currency loses value on a fee that they will they say will 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 at the current system of it cannot survive the woman survive and 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 the same my amount of money that buys a house all of a sudden buys a lot. brayed one year later i'm obviously i have to go into. i do not have another option what about comparing a product to a bank or because a 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 in a cryptic strange tradition of the liquidity is very important for exchanging an os

side 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 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 now. 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 experience but tricks. finance but for next what we've done with the exchanges that we've allowed any crypto in susie's 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. to day three for his two point one million dollars we i mean to do twenty million by the end of september launching on the first of october to kaiser burke capital should be about this that's the max and stacy venture capital fund oh you should especially as 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 on there all

right china spender spend the sprite better supply thanks for coming on the guys report x. thank you so much all right well that's going to do it for this edition of the kaiser parfait mass 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.

the fruit of the poisonous tree this is what critics are calling the ongoing investigation of alleged trump world collusion with russia during the two thousand and sixteen election in the meantime the upper echelons of the f.b.i. have been decimated to prove the concept as russia gate morphed into f.b.i. came. to this issue but he. was. maybe and what because. this mean what i mean i well me and i don't know but that's mostly.

what i was was a. dumb move to move. in school i'm. only in the spirit in the prison instead of instead i'm a watchman of blood coming from the. winter is it and there have none he moved can you hear me. diminished since most of. it

was. argentina make it to the last sixteen of the world cup with a last gasp a winner against vijay area croatia topped the group dumping iceland out of the competition. a goal list between denmark and france in moscow sends both sides through to the knockout stage.

you're watching out international live from moscow with me to do welcome to the program day thirteen of the fifa world cup has come to an end with argentina in croatia progressing from group d. the south americans will meet france in the last sixteen while the impressive croatia side will face denmark we've got all the highlights from those games from our studio in central moscow with artie's mickey aaron and danielle hawkins. it's been such a roller coaster end of the games in group do you today we're going now to officially crozier will be joined by argentina in the first round of the highlights from those games on the early action as well in group c. of course and what a night it has been for us in cosy decrease of work celebration but more importantly relief on the faces of the argentina certainly drought it gave us that

. i mean we were kaluta to both games where we were the argentina nigeria game i really had this transfixed i didn't tina allows nigeria back into the game with a penalty in the second half and left to late to secure their place in the last sixteen of the south americans will join croatia also got a late winner and ninetieth minute goal. got that goal in a two one victory over almost and heartbreak for those fires that were going on to the last pope until dying minutes i'd like so many goals in is torn when it came about the five minutes all the extra time so remember the spain game with a raucous that i thought to go wrong seems a bit of a partner who is not keeping files and is there seems to the very last minute that means heading home sadly it's also the last we'll hear of the now famous viking club.

on this let's talk about that first half of the argentina nigeria game show you started off argentina started our vegie a lot of expectations a lot of pressure on the most specially on leno messi who has really underperformed in the first two games of the tournament but soon enough light leo messi scored that goal and really shown the type of stuff there that he's made of he is a world class player and that fourteenth minute he really proved that when he kicked that goal in. to the back of the net on his right foot actually which is apparently his week of me has one fantastic event because for me when i go right from deep in the ocean in the hoff right into the box little message takes it past the fenders those charts for the young goalkeeper the sheer look of relief on my says face quite a contrast. similarly to morrow seems to be praying. lation two to the skies second time was no less dramatic nigeria scored fifty one minutes a foul by musher on a yellow card could have been

a red tackle. just outside the box subsequently there was a penalty for as well bosh want to get a yellow card for talking down inside the box and that was a draw until the dying moments of the game of course ninetieth minute winner from mark korda roll for an assist from the front. caught a very confidently taken right into the box was unmarked slotting roy into the back of the net argentina managed to hold on to spoilage a team of zero throwing everything they can on the camera actually came off the road on a just pops a few moments before he made some interesting gestures let's say into. order for you always been a character and i was a very little asian to train the camera on him throughout the game to you and to see what he's doing interesting view it's such a passionate game for both teams and i mean you know the emotions really were

eckstein the faces of all of those fans in the stands especially the argentinian fans when that second goal went into the back of the net tears we saw more than one time in tears. so emotional those tactical changes seem to work didn't they the the manager as we said there was a lot of speculation about disunity in the changing room some sort of conflict the players taking control choosing their own team i must be. dispute he said that's a load of media speculation load of rubbish the team is playing together they're sticking united it seems out to argentina finally showed today they much that expectation placed on them thanks and placed on messi as we said earlier they could this was a really charles frozen team to make a comeback from being the finalists back in brazil missing out messi swansong next world cup that has now been. included. along through to do round of sixteen with croatia for away show breaking icelandic hearts their

fantastic ninetieth minute goal of one paris which for get to see it very soon your screens collected a very well executed pause put one on one with the goalkeeper took the opportunity like a pro shot straight to the middle of the goal past the keeper you have it defended very bravely. selves created quite a few shots actually buys them to opportunity without penalty record number of penalties by the way scored in this total of perhaps the v.a.r. the video assistant. correlation causation disputable but that remains a fact there has been a record number of penalties in the early stages of this form but compared to the others a lot of calls for the you saw the referee and a lot of pressure was in the absolutely i want you know that the left always gets a bad rap no matter what happens but this whole v.i.i. they are introduction has just changed everything isn't it there's more anger

directed towards the rest you know how does he make his decision is it by himself now is he depending on the v.a.r. it is a total game changer ninetieth minute winner again and parachute put in one on one with the goalkeeper he. leaving alderson charts and actually the keeper just speaking about the dawson team urged him to earlier of course i mean a lot of these players not exactly how much his butt. they have day jobs through the manager itself themselves dentist how that sort of believe is a film director he actually or maybe this is a rumor could be a bit of press here but i believe he was actually one hundred kilograms at one point i mean lost the weight and got called up to the national team this. time off given time off to go play for a national team for those games confer who were going through from great day interrupt their final round of sixteen of course we can head over to the paid back well the action is happening is that ali is there for as and of course we've got

our correspondent andrew fowler in rostov on don he's been covering the iceland croatia clash will be going to them so italy. is iceland's first ever world cup has come to an end here stuff but they didn't have put up a good fight you've gone through all the details for me. when croatia got the opening goal i have to say when i was sat in that arena i thought that was curtains really because crazy always looked in control for me for most of this match up until that point but when news came out that nigeria had a equalized against argentina to make it one one a huge rule went around the rest of arena then it was a big biking clap as we now call it and the players responded i have to say iceland pushed on and they got their just reward with that penalty after seventy five minutes and. judy obliged to convert to make it one one and then there was a frantic seventy five minutes that followed until at the end and even got that winner to make it two one for my money croatia are always the better team three

wins from three i think they probably will go far in this tournament given the fact that they've arrested so many players deceiving too but as a football fan i am sad today because it means that i slowly going home the reason i'm sad as you've alluded to there a country what with a population of three hundred thousand and yet they still managed to hold argentina to a one one draw in the game and put academy on the pigeons which i loved as a football fan and then you've gone through a list of players you have second the jobs to. so the goalkeeper is a film director apparently he directed to video for iceland's you're a vision song contest entry i have a man there that pack sold in reykjavik and also their manager used to be a dentist before he got his teeth into football would excuse the pun these are only stories you have a head in the f.a. cup back in england you never hear them at the world cup and so now there's a football fan i'm sad that i seem to going home that croatia would be would be winners tonight and i think you have to keep an eye on them for like to take.

oh oh oh oh oh oh oh oh bush she. should be standing near our house where our all over the. steering by us it's in your hands. there breeze if you saw it for the we've seen us and sure enough when the boston pops just just down there beyond the beyond right square i was that was found have been like. yeah these argentinian fans really coming out with relief more than anything got to the movies is. the big bad by music just to my right as well so that's on the top of the atmosphere for these fans are going i'm very happy to see the last game of both the first off getting off the explosive start little message getting his first goal of the tournament.