are you with us. so we're at the north american bitcoin conference obviously and you put these conferences together all over the country in the world in fact so tell us about the excitement that continues to be around kryptos a bit point even though last year was sort of a down year but it seems to be like it's continue to generate a lot interest there is a lot of interest and it was surprising to most of oh i don't know if this is going to be a funeral or a party i had no way of knowing because of last year and. that's when we have five thousand people that how can we beat that in a bear market like this the people here are very excited keep growing keep building . let me and they ask him ok so. you deal with the people that have the booze except just inside the door is there and my experience although we had somebody here last year but i wasn't here but my experience at these conferences that a lot of times they were sort of there one year the not there the next year they

couldn't raise money except but it seems to me that maybe you have some repeat folks trying to sell their wares and get money is that is that the case or is that just what i'm thinking you know from the from the events we have about a seventy percent retention rate. sponsors keep coming back what's interesting about this event in particular is some of the biggest companies in the industry it started here and have met their co-founders here from twenty fourteen the theory of launching on this stage to when chain the co-founders of one team meeting last year . in twenty fifteen starting their business together. and sponsors continue to see value and extract value from these events conferences are unique place for people to meet each other and grow their network. the online environment is only so good exchanging e-mails and calls and. provide only so much but the data transfer rate of talking to somebody is so much faster and high quality than talking online and no i mean. you've got all sorts of people here speaking and that's one of the other

benefits of these conferences who are you and you're speaking who are you excited to here today there's a many great speakers that come to the bank and we have a wide range because has a wide range of people in the ecosystem. we're opening up the day with no birth process. and ross unfortunately famous from the silk road of course with two back to back life sentences in prison for running the silk road which many companies wouldn't cover because it's quite a political message and to have any money for those it would mean those to you for doing things that aren't just in the street so she's going to speak this week then we have the founder of these euro and overstock patrick byrne speaking they're working on great projects and i think they're going to have a great announcement today. we have people talking about security token how the industry is evolving we have one of the co-founders of heather speaking great sellers. it's always exciting to see what they're going to speak about and how they

feel because i think this event is a bit of a canary in the coal mine for the whole industry how does this go how does it feel gives us a sense of what the year is going to be like no we know you've got to get in there and speak but we can't thank you enough for being with us and spending time with the boom busters on r.t.m. america mole levon of peano thank you moreover. we're now joined by marland yarde who's the managing director of the barbados stock exchange we've got some breaking news here today i couldn't be more excited to have it with us marlin welcome good to see you thank you tell us about something you are doing something innovative that no exchange around the world no government has done tell us about it ok well. and on our trade in top form for chris rock. we've been. gone through the process of talking to our regulators developing

a framework having to try to find those stages of being a they're being with you know you're also playing a legacy on a trading platform for. made up largely as part of our international securities market this is a market that's been developed a few years ago and the wall idea is to barbie this basically attracts international businesses beast set up the international securities market to facilitate the listing of securities on board in hard currency so what will this asset be called you have a product name or a token name or something for it yet we're saying that digital assets so this basically covers all aspects of risk to us so what we're seeing is our main focus store is the spew security story but once the particular asset meets the criteria

of the you invest your best in money you are expecting a profit from an enterprise. through the episode others basic tests. criteria you can be listed on or it should be made sure about our securities facilitates the listing of crypto us a specific yes i mean this is a security book and about his speech your point we're not saying that one suspects of crypto assets but that is the right word. is something that we've been talking about for some years you know in barbados we set up a working group to discuss that to see how we can work to come up with a position that can work there's not too much we have to do from a rep from from a legislative point of view bust the industry and speed the balls if there's a need for change in the registered framework we will do so what sort of timeframe we looking at here is twenty nineteen roll out we're looking at the leaves. the

first words are probably the middle of the second quarter of bass or. and and marlon the there has been greater acceptance of the trip those in general and we all know about the chicago mercantile exchange group and the chicago board options exchange you actually have some velocity with their volume does this acceptance of those folks and others sort of that instigate you to say look there may be money to be made in a service to be provided in the crypto space at the barbados stock exchange yes so no one of the things that we identify is that the space is is growing and we wanted to make sure that we offered a service you know if you don't want to be. treated far behind the process you want to go on and so we identified the opportunity it was all part of when we launched into national security so we did our dearest trips around the world everybody was asking us are you looking at this speed script cryptocurrency this and it got us

thinking i said this is something we need to seriously look at and we identified it and we said we'll go after it we studied it i mean after a while and we can't take enough for sharing it with us and congratulations on being entrepreneurial and forward thinking and providing a real service when it when these things all get online marland yarde of the barbados stock exchange thank you marlin. time now for a quick toss for the promotional cause but hang here because when we return there is more from miami florida at the north american going concerts including most live in is back with keynote you give us a special tour of the first ever bitcoin museum will be back in a flash. financial times but i'm honestly. trying.

that's a massive appliance of the future. was kaiser. so it's seemed wrong. when old rules just don't call. me. yet to stamp out disdain become educated and engagement equals betrayal. when something find themselves worlds apart we choose to look for common ground. you know world of big partisan movies lot 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 back and shouting past each other it's time for critical thinking it's time to fight for the

middle for the truth the time is now for watching closely watching the hawks. when they came back from iraq now whoa marijuana her was cocaine methamphetamine say anything that's altering trying to get us out of. that bad mindset using the chemical that would be self medicating. i want to be drinking and drinking ino new just killing myself. out the whole. drink to get drunk alcoholics drink to feel normal. that's why it's this way drug addicts do what they do not shop while still for the next. star cool under which these guys are going through to it it just means to a. big. need to be helped and pushed on by the v.a.'s r.'s drugs bill and they need

to be built. and they just really should be looked at like numbers they should be looked at like people if they go to a veteran center for health issues be considered as someone who really needs attention. one of the things they do this year that we came up with is because there are so many people coming into the industry maybe within the last year or six months we wanted to showcase how we got here and there's been this. new trend of instagram places people go to these instagram place and it's very good pictures you can make and we thought why don't we do this with the coin let's give people an

experience of the last ten years of crypto or more and walking through it in an interactive immersive way so i'm really looking forward to showing you what's inside. so this is our first room and although there is in direct if you are close where you could read more about what room you're in and this room is going over how we got here what are the foundational elements to cryptocurrency what how did what was the first instances of digital counts what was it like in the. coming up with the idea of a digital currency that for the people by the people and we obviously have the guy fawkes masks everywhere it's really demonstrably shows how those were so revolutionary remain revolutionary even to this day a great beginning to the museum. so this next room we're in goes through this

interesting curiosity in crypto which is who is the toshi and we've made this area you can sit down under i am so totally nakamoto and anybody could be so toshi. and a funny piece of art with the amount that toshi with all the people suspected of being suppose in the past. and the. genesis book again you can look up all elements about one who was totally and what do we know about him. so if we came from the foundational how did we get to digital currencies to now suppose you came up with a vision of bitcoin with the genesis book now let's look at a bit of the price of the quantum what happened with that coin in the early days of the store one of my favorite rooms. the big point pizza room and so this was a famous moment in big point history where somebody posted laszlo posted on

a big coin for him saying i'll give ten thousand big corn to whoever will buy me two pizzas and underneath each one of these slices of pepperoni is the price of whatever it was in two thousand and eleven twelve thousand because in computer. here we have a ninety seven big bottle of wine. thirty big. kind of you know butter and a wall of shame people posting on twitter how sad they were for selling big point at six cents instead of thirty cents. rubini talking about. dropping forty percent going below fifty eight dollars which of course we now know in retrospect it was a great deal. it's funny and interactive to see that it was the early days people were just finding about finding out about bitcoin there wasn't much of a value but people interacting it in interacting with it in funny ways and so this is celebrating that so. you know we were talking to our headquarters yesterday

about you know these people that actually threw away coleraine let alone those who you know lost their lost their keys some of those folks must feel pretty bad they just tossed them are they trying to get them back and going through whatever dumpsters or something yeah there is services recovery services that will do this for you. i found an old computer of mine from two thousand and eleven and i found a lot of big quite a while files and i said oh if this is going to be a good day i looked at all of them there was nothing inside. but other people have lost their passwords and there's recovery services to find them and brute force these passwords to find out what's inside but. over the years the numbers range from anywhere from five to thirty percent of crypto have been lost in transit which is one of the other. learning curves the one of the other. and he said it like. it's one of these other educational moments

where people are learning how to interact with a kind of clunky new technology where. it doesn't work well you lose some in the beginning but at the point where there was so many big coin around where you were buying a pizza for ten thousand because losing five thousand because it is wasn't as big a deal as now which would be losing one point five million dollars yeah these are crazy numbers you're talking about crazy numbers boy but a lot of people are regretting it what else you have all right so this next room is a bit intense but also worth speaking about so we recreated russell book cell. to showcase so after many because we're around in the first instances of big point in money and people buying things with crypto the silk road was created and other dark now marketplaces were created. and then what came with more regulation and severe regulation making examples of people and for people that haven't been in the industry they don't know this history and we thought it would be worthwhile to

show the people that have paved the way for better or for worse we're all part of this experience that we have now. in iraq and for those i mean most of you will watch our show and probably know about ross but can you just give a quick thirty second of is history i mean he started this online thing called crypt silk road but take it from there mobile so ross was accused of creating the silk road which was an online marketplace for people to buy and sell anything almost like an a but with crypto currency yes there were some bad actors on the marketplace buying and selling drugs or counterfeit money as well as pens and stationery and whatever. to make an example of ross for other people getting involved in the dark net. he was sentenced to a double life in prison with an additional forty years on top of it and on the wall over here we have five other people that have were convicted as being a part of the silk road you know as you said ross's mother lynn speaking

today at your conference that's really interesting so this is quite an emotional room we have russ writes tweets on pieces of paper so she can put them on line there's a petition to free him but it gives people a sense of what. what has happened in the past and i think that's valuable absolutely very interesting. so this room showcases a bit of the mt gox collapse and for people that aren't aware of the month gox was the currency exchange where you can buy and sell your pill in japan which failed to tremendously due to hiking and negligence and insufficient technology and we have a. well dedicated to the great bear market of twenty fourteen i'm sure that it doesn't make those who lost money at mt gox feel a lot better but at least some of the money at lower prices were ultimately paid

back because it was like five or seventy five million dollars they did get some back but they got it back they didn't get it back at the nineteen thousand nine hundred ninety nine dollars or whatever it went to it got but half of it not all of them got paid but at least it was some of those hacks surely needs to be something we address as we go indeed in the industry these were part of the growing pains the growing pains of ten thousand decline pizzas and the growing pains of people that were convicted for being a part of the silk road and the growing pains of an exchange collapsing which taught everybody to be a bit more careful with how you store your money. so this room is a bit. interesting in that it's mirroring and it's futuristic because we don't know what's coming next there's a v r experience where you can fly through outer space and see what it's like in the future and what how big point is interacting with it we've got a fan showing different images of the big one but really the future is unknown very exciting to think about what could be and what people can build in the future. but

we don't know there's new things coming every day and there's a. very important and smart people working on the future of crypto that great way to end your museum is mold levin a keynote the co-founder and president thank you so much all coming. and we're so pleased to be joined by one of our best friends in the crypto world geoffrey talker of the american institute for economic research jeffrey got so great to see you here at the core north american bitcoin conference now you were a speaker here and you were telling me just a little bit ago about what you spoke about which i totally didn't expect well this is my fifth year at this conference by the way so i've seem you know from the very beginning all the way back with two thousand and fourteen to write about and i you know everybody's talking about the crypto industry i went. really with a deep history lesson about the history of the american before and nine hundred and one nine hundred thirty three i mean f.d.r. becomes president he trusts the banks for a week it's all the gold he devalues the dollar an invalid it's every gold contract

it's like banana republic kind of stuff and i the reason i told the story was just to illustrate the possibility well the reality that it did happen and the possibility that it could happen again because that's that's what these guys always like to do they like to cite historical precedent so it relates to the crypto problem because in one thousand thirty three the response american dream was to hoddle dollars and gold right and that created the basis for the postwar boom and in two thousand and eight same thing similar thing happened the velocity of money crashed everybody just went to where safety was and that's when we saw coincidentally the same time that you know bitcoin started that's right and big kind of started as an alternative to the national money it's a global asset that belongs to individuals and so in that sense it's a new safe haven they don't have that all the opportunity in one thousand thirty three my point is that we have that so that and that's a very important innovation and i think it's history historically significant now

so let's talk about the default a little bit i don't have the exact figure but i think the debt not then you will deficit is something like twenty one trillion dollars that was i mean these are just astronomical numbers we don't even know what these numbers mean but if you look at the unfunded liabilities that gets in the hundreds of trillions of them two hundred twenty trillion so what do you think it is that what why would we not pay our our debt and i ask this in light of you know the worst the longest government shutdown ever when congress and the administration can't get their stuff together right question i think the shutdown this extremely significant because i think it's going to show illustrate or really fuel what i lost firstly that yes it's a loss of confidence in our public institutions right. and the whole the reason the us government didn't become a bad banana republic after nine hundred thirty three is that people's confidence in the system smooth talk radio voice is. you know that can go

a long way but now with the shutdown it's like wait the system no longer even lurks so the question is what happens when the fed is trying to unload its balance sheet and also intimidated to not raise rates and a lot of the ministrations demands and so it's caught between a rock and a hard place at some point what happens if the rating agency did what it did last time like five years ago and start to reassess the quality of american that. could trigger a global disaster so your. theory or contention i don't know how far you want to go with it but is that when this potential default occurs or if it could occur even partially this impasse that we get back in the day you know people looked at gold and people still look at gold but now rather then something physical you could touch and feel they would look to crypto as a safe haven people for the last ten years have been looking to treasuries as

a one safe place what if they no longer become safe i think krypto is going to be the thing you and i talk about this whole time how we're going to get mom how we're going to get grandmother to grab the granddad to download a wallet and use crypto the best way to through adoption is necessity i think people are going to learn real fast the fact is that this asset is out there and right now people are like well it's a little weird it's not really for me but what happens when things get crazy. divergent and interesting thing no wonder you are so popular here at the north american bitcoin conference i'm fascinated about it because historians don't talk about it and most people don't know i think you know it's funny thing happened after nine thirty three we had you know the great depression with no one at the time you were going to say she was found it was founded to to a. educate people by economics because it was just such an egregious confiscation of american wealth then we had the big war and everybody kind of experiences the store so people talk about it anymore but even with that it was

a catastrophic event and i don't think we've learned anything since that you know look what they did in two thousand and eight i mean the federal reserve just bought up all the bats the bad assets and the bad bad prices and pretended as if the system is all but everything is worse now than it was then and far worse and we don't have the liberality in the sort of banking system we had in two thousand and eight so i don't know what's going to happen with the next crisis and it's coming it's coming you know we all of the congress wore off another big bank bailout and they they said that dodd frank that as you know i had a lot to to do with says that we could no longer have a big bank bailout but here's the bottom line for all the viewers is that congress can change the law like that they could say yes i mean if there was another default they could do something i'm not sure what that would be but i don't think for a minute that they will let major whether or not it's the banks or the auto sector

they're not going to let them fail and the economy go down but thinking about going to crypto is such an interesting and exciting concept kind of asset the global asset the blogs to individuals and immutable way to transfer the whole value and transfer it to appear anywhere in the world outside of the banking system i mean that's that's extraordinary if that had been around in nineteen thirty three or great depression would have lasted as long as they did but it is around now it just seems to me going to these conferences that there is so much greater acceptance that people in the kiosk here are there coming back as opposed to they were here they didn't get funded they're gone but talk about acceptance of kryptos generally i would say the industry is a lot more stable now i think two thousand. team it was a difficult time but it was actually good for her in the end because well you have here the survivors in a way but they're sophisticated they're serious and seen a better quality of attendee than i've ever seen before in

a level of excitement and seriousness i mean there was a lot of goofy stuff that was going on last year i don't know if you came here but i mean you can't believe the number of nutty places we were getting from you know it was clearly boom times in retrospect it's so obvious now but this year was very different the the analogy that's been made in the past is to the dot com boom and people talk about how much money was lost but then they point out in the other hand and we've got all these great companies that are out there so yeah we did have to sort out the wheat from the chaff but it turned out to be good for entrepreneurs for economies around the world it was transformative right i mean at the time people were saying all looks these dot coms are never going to mouth anything three years later you know everything changed and then of course now here we are where we are all those dot com companies that lost so much money in two thousand and now we're in the world so you know history economics is funny you know you think you know you may not know jeffrey tucker at the american institute for economic

research what a pleasure to have you. and that's it for this time boy was this fun being a miami at the north american bitcoin conference we'll continue to cover blocked change in crypto so we go forward it's one of our favorite subjects thank you for being with us and always catch boom bust at you tube dot com slash archie so long for miami. it has you know provision of my back want to know what it is on there. but i. guess i don't hide away lest his boss because i do. we. don't have any.

so i know you're not. you know. what i'm already but i was. going to go with. this one up as well i must. get it. but those were the. just but that's already yes equestrian in the. officer. to get up off the ground sounds of an mit. officer. john. switch to away from the officer.

did they kind of lunge for the web in one smith's and they would have been done. as i've. never seen any contact with. any kind went back to where they were back here they're trying again fifteen feet apart at this point and. he's gone. you want to make sure that the quality is not just a slogan of misery but it also is associated with a rise in this believe how can you have a rise in the standard of by having. savings invest. broadening increasing the size of the national park so that you can distill the whole everything.

done. in. this hour's headlines stories both the u.s. president and special counsel robert mueller forcefully reject an incendiary new buzz feed reports on a legit wrongdoing by trump. to europe or to a chill sell r.t. speaks to our friend and former colleague of an american born or really in journalist the detained in the u.s. saying her freedoms are being appealed.