and she continues to dominate global finance and put the us dollar into the graveyard yeah stacey well not just the us dollar all fat currencies are of course is once the u.s. dollar was on hinged itself from gold that all currencies decided to also back themselves from gold but we're back from such a she round table we will still be asked to toshi round table in the second half when you speak to john and hells from a bit backward but i do want to say the big news that everybody was talking about during this past few days is jack that is jack dorsey he has his twitter handle is simply jack and he tweeted i only have bitcoin yes he's a big macs less and he was responding to the side in. between twitter as he calls it not crypto twitter pouncing on him because he engaged in the l. and trust chain which is the light and network trust chain the torch the

lightning torch that went around so he has outed himself as a big macs a less and a lover of lightning network this is interesting because i think it might herald the beginning of what i call the all calling decoupling that the coin or start to surge ahead and leave the all coins in the dust because we have two pieces of news of come out now jack dorsey from twitter and square clearly putting his eight hundred pound gorilla like weight in social media behind bitcoin and when asked about these other coins basically dismissing them and focusing on big coin the lightning network's a lightning labs he's also we've also got news. which was a sponsor of ours for gonzo our road trip coast to coast which also implies a decoupling from all kinds yes actually in the next episode because we're not going to have time in this but we will go deeper into that revelation you also have . of course you interviewed bill aberdeen he was on

a recent episode where he unveiled this and he talked about basically establishing a big point centered but in regards to what happened with jack and what he engaged in and what the significance of it is is that this was a global experiment in trust and the bitcoin community so this is a tweet from big magazine laying out kind of a synopsis of what actually happened was started as an impulsive experiment and community trust has turned you into a movement so hot even twitter's co-founder jack took part one hundred forty one recent p.s. and counting the hash tag lightning torch has been to thirty seven countries across six continents l. and trust chain has tag it coined the tweet links to their article about this and they they explain that a lightning network payment has been making global rounds on big queen's secondary layer the payments slowly accumulating in value with each passing is two point

eight million suppose she strong which is equivalent ninety six dollars as still going dubbed the lightning torch the payment has changed hands nearly one hundred fifty times across thirty nine countries traditionally participants announce their own ship over twitter to seek out the next three sybian hopeful torchbearers respond to the tweets with lightning network invoice and after choosing a user's trust the current holder as a discretionary amount to the payments turned and says it to the next holder so you know is that experiment and if people would. basically take that lightning network transaction and send it on and not keep it to people did decide to keep it so they had to restart and the two people who had sent it to a person that then ended up stealing it they then started the torch going again with the full amount bad news for cash and the ripple grossberg going casual.

brought about as the solution to the perceived inability of big coin to scale that obviously was a nonstarter in the market shows that there is no appetite for because sure it coin toshi vision or any of the other hard forks rebel of course there's a centralised protocol so it's insecure and this shows you can move money around using bitcoin just as easily and i would imagine that's going to put to good as well exactly and jack did respond to many many many many dozens of bitcoin twitter as he calls it again most people who call it has sexy t.v. are crypto twitter he could he has read it because twitter. the big bag is the an article that goes on to say the phenomenon is an exercise in restraint trust and altruism that person a five big complicated relationship between trusted and trust lists operations and parties in this way it is fitting their remarkable origin of the negative is

equally as unconventional as its carry through and all arose from the curiosity and educationally incentivised agency of an anonymous twitter personality masquerading as an astronaut a cool feline twitter handles hodell not well remember the text and that's what these lighting now or twitter messages are is speech and speech is free and free speech is protected under the u.s. constitution so it would be against bitcoin is to be against the us constitution is unconstitutional to protest and be against because they're nouriel roubini paul krugman and those guys are anti american well beyond america max because in fact though the us constitution enshrines our rights they they don't grant us rice they just note our inalienable rights all humans are endowed at birth with these inalienable rights. whether they be in venezuela or saudi arabia or america and

that is what bitcoin is establishing is a return to national law that all whether you are born in saudi arabia or qatar or egypt or venezuela or america or anywhere in europe with the framers. made note about when they created the constitution that it was a reference to natural law yes so getting back to the top of the show the big loser will be the us dollar the biggest of the biggest of the nonfunctioning terms of these it is filled with censorship increasingly so i want to say about your text is free speech text to speech and that is of course how this entire sector of cryptocurrency started how big was founded was in the battles of the cypherpunks with p.g.p. and guaranteeing cryptography was part of speech so that's how they got those p.g.p. the code out in the first place by publishing as

a book and sending it to europe but here is my twitter my my lightning invoice that i sent out as part of this and that's what it looks like it's a bunch of text. acts of speech and we're protected in the u.s. and around the world i think you know the us we do have it codified so that you can go to court and challenge the government if they try to suppress your free speech many nations like the u.k. do not have a constitution do not have their free speech guaranteed by the constitution that's right nevertheless they are born with the divine right just as the queen is the born with divine rights so they do have the alienable right to free speech but why lightning what's what's the excitement about lightning what's the excitement about the second layer you mentioned big cash and one of the things about the block size war that you know the mainstream media did cover that extensively and this was the end of because it was going to hard for it and then there was user act. they

dissolve fork and all that changes and then well here is the speeds of transactions now being you know noted and witnessed on the lightning network this is a tweet from not grew balls in forty seconds ten thousand lightning network payments can be processed and the same amount of time only two point six chip and pin payments can be processed well on a boat somewhere having to caracas john mcafee and roger very trying to escape the scene of the crime there. are incorrect well they were wrong you know it's ok to be wrong people experiment this is a new technology it's a new experimental technology because in itself. arose out of several failures before it several attempts at creating what is became bitcoin so people try they you know roger vero and the big cashers thought this sort of speed cannot be

achieved on a second layer and they were unwilling to wait for a second layer and they thought they could do it on the main layer which is the queen which is the first layer the base layer that is the equivalent of gold and our fi at global system right now the financial system that we have whether or not governments acknowledge it gold still does underlie our entire global fiat's system it's always there sitting there and nourish and if you think we aren't then you would see central banks giving up their goals rather than accumulating gold i want to sound like i'm gloating. but i did know with some. alex jones is attacking joe rogan because he had jack dorsey talking about the inevitability of bitcoin and the demise of the u.s. dollar. is worth noting that i was on alex jones show and because i was one dollar begging him to get involved have. he'd done so on the scale that we were talking

about he would be sitting on a billion dollars and you know would have been a nice place to be but he did not embrace at the time that i spoke with him and now he's fighting a rear guard action which is a losing action well conspiracy theorists always trap themselves into a corner just like rachel maddow is doing now it has to go crazy increasing crazy or so that's where he is now but where in the real world without conspiracy and in fact jackson palmer brings that up in this next tweet because there is a conspiracy of round jack dorsey and d. platforming he has of course the platform to alex jones so it's really odd he notes observant cryptocurrency people flip flop between hating on jack for censoring free speech and he does that in a serial killer sort of conspiracy theorist attacks and challenge him and praise if he mentions big point but i want to use this as a moment to highlight the fact that big queen by its nature is censorship

resistance jack as head of a company a publicly traded company called twitter is he is not resistant to censorship because he is one man in charge of a. you know essential eyes database which is twitter so that's why people can appeal to him the state department the cia the n.s.a. whoever it is that contacts them and says take that person down he has to abide by those laws because it's. subject to man made laws because it is natural law which are in the alien a bill of rights so he can you know he could talk about bitcoin freely because we all can because it's an inalienable right so nobody can censor certainly not jack it doesn't matter if he joins the gang it doesn't matter how whether or not he's a billionaire just as we found out with roger very he can't alter the code he without consensus yeah big shout out to elizabeth stark over there a lightning labs because i think she's really been. in touch with jack dorsey and

brainwashed to speed on big coin and lightning networks and it has an effect on people's minds you know jack dorsey seems to have seen the light and so he seems to be maybe taking the company in a new direction and that's the effect of the magic of the protocol he is an investor in lightning labs of which elizabeth stark is c.e.o. so he's now beginning to talk but he's been an investor for over a year you know just doing teaches you learn by doing let's take a break when we come back to hot new company we discovered it's a totally round table this year don't go away. you know world's big partners. and conspiracy it's time to wait

to dig deeper to get 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 bad 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.

i simply. set up have been miles from as. independent. for that day and then. i went up at a sauna we were meeting there. it was the set of my love and respect i think that me or the now with jamie has a hunk of those. now at the back of the. thought that never. see life simply make the point of me or the only measure have gone for the closer you got because of me as.

welcome back to the kaiser report imax keyser time now to turn to jonathan hales he's the creator of the fantastically correct and needed service bit back or i jonathan welcome i'm excited to be here so this is patriot but using crypto and this is mentioned desperately needed at the moment tell us a little bit about it yeah it's pretty straightforward it's a basic web service but instead of dollars we take cryptocurrency cash like coin and some more cash and you know it's coming to prefer tourist time with the patron

exodus right let's talk about the patron exodus for a second i see jordan peterson and others are leaving patron and what happened over there and are they migrating to platforms like yours so well the story is i think it all started with gone cod and he says some pretty innocuous things if you read about it. and. kicked him off which led to a kind of a flood of other creators and also subscribers also as a whole lot it was kind of community load leaving the platform and i think the first attempt was a place called subscribe star which i'm not exactly sure what the current state is but it's kind of an alternative picture on but us dollar based and as soon as they got there i think within a day or two their parent processor also cut them off and so you kind of had this double attack against content creators both the service and the payment processor and so excited to see that you kind of backed into a corner here and in order to kind of really offer free speech alternative if you

really wanted to you'd have to really deal with a payment processor thing and that's where because crypto currency comes on right the phrase censorship resistance comes to mind right that's part of the charm of bitcoin it's one of the attributes that make it what it is. it is carried over to the actual realm of free speech you know these are folks that are not interested in crypto percent but they want to exercise their free speech and they meant processors decide what is their speech rights or rights to free speech which is anti-constitutional so now we have crypto currency which guarantees censorship resistance in financial endeavors down we find that in speech and journalism and. bit backward oh what does the company of you've created you've also made a decision to be i guess mostly located or located in wyoming is that correct yes tell us about what that's what's going on there another big story to be honest it just comes on the recommendation of keep going along and she just really made us

a really strong case that wyoming is going to be the most frequent friendly regulatory regime in the united states and a lot of good people who reads are just said let's go for it right there's a groundswell of interest down wyoming they're trying to become the go to state for cryptocurrency still incorporate there are a couple of states in the in the united states that benefit from being friendly to corporations like delaware for example and now we've got wyoming make you know putting their flag in the ground in a delaware was the original idea was like well that i've always been told delaware is where you incorporate and when i start looking around it was like no no if you're a block chain you go to wyoming now this is the new correct answer so to say wow it's amazing so you think that we may see oil main become crypto switzerland the huge attractive destination for profit companies maybe i hope so it's seems like you know they're really putting their work and they deserve it now how are you at

wrangling cowboys and riding stair and rodeo mills you have many of those i will learn. anything for the for the company i'm enthusiastic great was good here so getting back to back or do. oh and so while it's been up and running it's been coming up around three months now ok what do you see as early as at this stage what kind of action in d.c. so still very small but we've got a very enthusiastic user base which has been very encouraging. we're trying to kind of on board as many people as possible i think our biggest client pro right now is an eye on me woo she's also been a victim of the platforming she's biggest what she thought her biggest personality right personality. she's out of you know shuns and she's kind of this engineer and she had a lot of trouble with patriotic voice and there's a whole back story there too but she's been fantastic and. it's actually really nice because you know she's she's very smart she runs an engineering blog or

a video platform. but she hadn't really quite been to because it seems like until this kind of issue and she's really are the but she really just sort of made the switch right here with a bit doctor and that's really one of the things we'd like to see more is. maybe a bit back there as a way to onboard a lot of creators who maybe of heard about it have been familiar and are interested but really haven't really seen the exact reason to come over and maybe with this whole d. platforming push it could be the number they need right this could be a whole new wave of adoption because it would be creators and people looking constantly yeah now and it's you know you mentioned the platforming and other issues of course there is another extreme element to it i mean there is genuine presence of what you would term and hate yeah i mean there is a really dangerous. elements out there so how does big backer deal with that if they don't know so yeah so that's one of the reasons why we didn't want to go

fully everything decentralize everything on the block chain complicates things but also all not just on the technical side but also on the legal tide to you kind of get the swamp of stuff that a lot of people really don't want to see or is just outright illegal. so our policy has been on free speech side is as long as not legal we take it. but if it is legal we will take it down right i would imagine of things like pornography other items would be probably considered illegal to some extent but it's hard to say i mean it's the law is there whatever loss of this so base your support of is interesting case so there are certain tests for a child pornography is just not going to be allowed. now in terms of pornography it's kind of a difficult issue but one of the ideas we're playing with is to start inventing photos and by default having them be. the only two subscribers and i think this

sort of. all this sort of issue if somebody does post some kind of gross or if there is content to the site it doesn't intrude on other patrons. but it still allows them to woody to you know cater to their customers. so what about the the majors like. these huge personalities that are building up a patron accounts i mean so we they need to be educated about the virtues of crypt being tempted by other platforms and so what's the message to them how it is you know pitch jordan peterson to come to a bit back or well i'd love to have him on it would be amazing i've noticed that they've started to play around with the idea of crypto a little bit by posting their addresses and i think that's amazing it was a really open but i would say one further step is in the world you can't just post your pay pal address and expect people to someone who will come but there's

a reason why patron exist instead of just pay pal in the world and it's because people want to subscribe they want to content they want the entire ecosystem around donations and likewise in the cryptocurrency world if you're interested that's fantastic and you'd be the first step with an address but it's really give and knowledge experience you need to get something big backer to answer to the pay phone right so johnson has what is your background previous to bit back or where it would have been dylan so before this i was in question of finance and before quantitative. trading on the market for who is a small firm manchester trading right now and you or a quantum yes and you are working out all kinds of algorithmic possibilities and scalping markets and you feel bad about that. you know this interview.

is sixty minutes and you're. isn't a hales you are a quad son other words you have experience in finance oh well what happened when the penny dropped and bitcoin like the light bell went off and you were like wow this is go on what happened so actually i was interested in because even before corner of finance i got interested in because i want to still in grad school for math and. so actually i i really think trading is a fantastic kind of nice honest it can be honestly put it out where way of living and so i got very interested that area and i tried to explore was part of finance there are a lot of issues of the financial sector don't get me wrong i'm not trying to defend the bill anything crazy like that. but you know time passed and i got really just continually drawn back into bickering and trying to create something right banking is a in a situation that's needed society and that's a fact that we have some bankers have taken it to a place that's unhealthy that doesn't smirch bank such so money is

a necessary element of a functioning society as well and now what is some of the most of what's the worst bit bag are going to be raising money for financing are you new funding you know we have a lot of we have a lot of startups on the show and they and bar is curious to see what their funding model is going forward any idea about so for a totally bootstrapped it could be interesting to read some money but perhaps you have to wait until people start talking about the crypto winter to really go off that aggressively is there a crypt i want to go and i guess i do i don't think so either but you know it's just a general sentiment. yes right it's similar to the dot com crash the funding window was shut for a while for a few years actually and then we come back so in the big point space in the crypto space there's definitely a liquidity for ventures is is definitely dried up at the moment but those adventures that have quality behind them and they can survive they end up. very

well the other end like facebook for example kind of came out of the muck the dot com crash one of reasons why it's so exciting to kind of build right now is you kind of want to get in when it's really tough and then after that it's kind of oh you know it's all downhill if you can make it work right now you know we're in this tropical paradise i'm talking with other crypto folks at the suppose she round table and can and what have you learned here what was some of the highlights aside from the show of course but what is it were the highlights that you experienced here. it's just incredible slot of really interesting people you know i don't know i don't know if i'm a refresh the question there are many conferences in the space and you know that this particular juncture there's a how are the be different like last year there was a lot of i ceo's and there there was a lot of hype you know like that it would be fair to say that we kind of come to

another back to a more fundamental place it really feels like that right now i mean the quality of people here is just incredible and just a lot of the stuff they're building sounds really interesting really forward looking and just you're getting not just you know. you don't have the kind of scary feeling i suppose any more would you have real quality and it's really just for looking on a whole new level of adoption i think is very interesting right and when you read about these old legacy economists like norio roubini and paul krugman making all these crazy remarks about because what goes through your mind you're you're in your twenty's thirty's jesus and so what do you think about these guys i think they're very entertaining. you know pamela you don't give a lot of traction no i mean it's their ridicule or just jokes or yeah you know needless jonathan else thanks so much for being on the kaiser report and traveling all right well that's going to do it for this edition of the kaiser report with me max kaiser and stacey armor like this i guess jonathan hails of it back or i. why

patriotic but they're going for a catch us on twitter it's kaiser report it's a lifetime bio. system. that i want. and there's a number on the name or not. can and you can vote all of them ok if the. last not

going to match the plan a little bit later about today i wait for the last three of a large battle more than a big. name of the man that having. given to people. who give the net a million come on what the how do we slow our devious to analysis are shown in the noise they need the whole corn to go forward. why demand not let out on asia or so on are just not just anonymous or. join me every thursday on the alex simon show and i'll be speaking to us on the world of politics sports business i'm show business i'll see you there.

i am. i am. with in the throes of a humanitarian crisis as opposition leader says he's not ruled out calling for a u.s. military intervention against president maduro. but i'm going to we would do everything possible once again this is obviously a very very controversial subjects we will do what's necessary. primary school in england comes under fire.