what is bitcoin? bitcoin is the world's first cryptocurrency, and it works because of the world's first public blockchain network. what does bitcoin do? it is simple. it lets you send and receive value to and from anyone in the world using nothing more than a computer and an internet connection. now, why is it revolutionary? because unlike every other tool for sending money over the inter net, it works without the need to trust a middleman. the lack of any corporation in between means that bitcoin is the world's first public digital payments infrastructure. by public, i simply mean available to all, and not owned by any single entity. now, we have public infrastructure for information, for websites, for e-mail. it's called the internet. the only public payments infrastructure that we have is cash, as in paper money. it only works in face-to-face transactions. before bitcoin, if you wanted to pay someone remotely over the phone or the internet, then you could not use public infrastructure. you would re

there are a fake chocolate bitcoins as well as virtual bitcoins on servers for many of the crypto currency remains a great mystery even though russia produces more bitcoins than almost any other country. with ways to quit the good yeah actually customers come to us and say i want but i don't know what it is and here like in an apple store we explain to them that it's possible to make bitcoins on these machines they're told that they can buy it or equip themselves to make it anywhere. and i feel like. the crypto currency is created in heavily guarded block chain data centers like this one in st petersburg bitcoins are bought and sold and the transactions are recorded here currently there are more than seventeen million bitcoins in circulation each worth more than six thousand dollars at the end of last year the currency was booming its value rocketed to almost twenty thousand dollars before collapsing even after a decade in circulation the bitcoin is still not a mainstream currency even though many say it's just a secure block chain technology allows highly encrypted transactions to be carr

there are a fake chocolate bitcoins as well as virtual bitcoins on servers for many of the crypto currency remains a great mystery even though russia produces more bitcoins than almost any other country. it was picked because of the good it yeah actually customers come to us and say i wanted but i don't know what it is and here like in an apple store we explain to them that it's possible to make bitcoins on these machines they're told that they can buy it or equip themselves to make it anywhere. and i feel like. the crypto currency is created in heavily guarded block chain data centers like this one in st petersburg bitcoins are bought and sold and the transactions are recorded here currently there are more than seventeen million bitcoins in circulation each worth more than six thousand dollars at the end of last year the currency was booming its value rocketed to almost twenty thousand dollars before collapsing even after a decade in circulation the bitcoin is still not a mainstream currency even though many say it's just a secure block chain technology allows highly encrypted transaction

liz: well, if the bitcoin fund goes through, the entry point is 25 bitcoins.an do the math because it's at $6,300 per bitcoin. good to see you. >> good to see you as well. liz: come back when, not if, when you get approval. >> i will be back. liz: okay. that's what we want to hear. it will be a very big deal on bitcoin's tenth birthday. dow jones industrials up 302 points. with the dow charging ahead at 25,184, jamie dimon's bitcoin bash hit at a time when some of jpmorgan's decisions in the past may be looking a little bit in the red. with the closing bell ringing in 15 minutes, jpmorgan one of the lead underwriters. back in the day when the container store launched its ipo exactly five years ago at $18 a share, right now it is crashing today. down 41% after the company missed on both revenue and ets due to what they say is a strong dollar. back then, five years ago, the stock doubled. today, it's $5.93. >>> if you're worried about tech stocks, may be stumbling once again even though they are doing wonderfully today. that may be from increased government regu

her last book was about bitcoin. are you still a fan? >> i am a fan of bitcoin.he technology that bitcoin introduced and the cryptographic revolution that instigated a crisis and a lot of the big holders of bitcoin are going to have to confront fundamental flaws in the model in order to carry the currency forward as a substitute for goals which they thought they were inventinfelt a substitute for goals. they asked the crucial dimension such as it doesn't have a cap and when you lose the gold it's still aware. if you lose a private key and bitcoin is gone forever. there are various flaws that make it an inadequate replacement for gold. the crucial issue for bitcoin and the future is a recapturing of the initial goal to create a substitute for gold. >> host: explained to us once again what is the block chaining? >> it is a system ledger which is a result of transactions and a list of titles and property or a list of credentials or whatever it is, facts, truth. it's rather than protecting them by putting them at some central database of some where and defending them

bitcoin.s by the waycoin becoming digital gold plus a sneak peek peek into theed "mad money" studio with jim cramer and he is highlighting a stock you should be buying during the sell i don't have live at the nasdaq mkeart site in times square. much more fast still ahead place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. ♪ they call me mellow yellow. >> gone are the days of wild, wild swings. bitcoin has apparently mellowed out. is plods steadily along with all the market chaos does it mean bitcoin is digital gold dom breaks it down. >> with all the recent volatility in the stock and bond markets has your head spinning head to one of the least volatile trades over the last month. maybe not least but interesting. bitcoin. bet you wouldn't have thought that the course of the la

we have a bitcoin alert.oments age bitwise announcing the legendary wall street adviser ric edelman joined as an investor and adviser we have the legend himself from san francisco joined by bob pisani bob, why don't you kick it off. >> hello, ric he hadland pnl, old friend very interested to hear about the bitcoin interest you told me every financial adviser needs to educate themselves about the sfas and consider allocation for clients. ric, why are you bullish on bitcoin? and are you advising people to buy it right now >> well, i'm bullish on it because bitcoin is now ten years old. it's a $200 billion market and crypto total bitcoin is about 40% of that clearly it's here to stay. there is massive amount of investments in the blockchain and crypt of assets specifically and financial advisers i'm discovering really don't know much about it. no more than the clients do. which means advisers can't effectively give advise to clients that the clients need. should i buy bitcoin or other crypto assets? if so how mu

. -- bitcoin and even the vix. bloomberg. ♪ caroline: crypto, bitcoin's climb captivated wall street and was the impetus of many investors to start taking crypto asset seriously. but to researchers at the university of texas who have published a paper alleging that happened of bitcoin's rise last year was due to malevolent of buying -- manipulative buying. please welcome professor john griffin, one of the duo, joining us from austin. talk to us about how you came to the conclusion that stable coins in particular were helping to drop the move in bitcoin and why that is a bad thing? john: thank you for having me. there was obviously a large rise in bitcoin last year, and it corresponded with a lot of tether issuance. there was discussion online, maybe people might call them conspiracy theories, about the relationship between tether and bitcoin. caroline: tether is a stable coin. john: yes, it is. and so the nice thing about all of this is, i do research on forensic finance, and along with my co-author we already rese

back to basics on bitcoin. ♪ bitcoin is often described as 21sttcentury gold.ital currency that only exists in the virtual world. in 2009 by an unknown programmer or a group of them, they used the name suggestion a camacho. the idea was to cut out middle -- middlemenks like banks or credit car companies, 11 to pay each other pirectly. the coin% is released by mining, solving cooplex algorithms or math problemm, then bought and sold on online exchanges. a record of each transaction is kept on the block chhin, a shared public ledger. users keep their own stash of bitcoins in a digital wallet. there is no central bank or% oversight. and the queens valley is negotiated by the people who use as --ting the price soars and drops when theer are securityty breaches. therere is a limit, only 21 million bitcoins can be ined and enter circulation. stephen: bitcoin has become famous for itt wild price ffuctuations, but for the most part of its deccde, it was not -pworth much at all. it was almost $20,000 by the end of 2013 and then crashed so far in 2018. since august, pric

and all the technologies with bitcoin, to start their business.kes perfect sense. so when china or south korea gonna allowot bitcoin here, all those parens go somewhere else. think,, north korea, i is having a bitcoin conference this week. doing someking at sort of cryptocurrency. >> if north korea were to open up and say, hey, like japan did, bitcoins are our national currency, all of a sudden, you'll see all sorts of activity there. now, it might be the south koreans that want to get together with the north other wayn the around. freedom builds prosperity. free and open and fair environments build prosperity. a dictatorship and you're trying to control your country in some way or another, trying to overregulate your people, they'll leave. we can now leave. speaking to us at the world knowledge forum in seoul. getting under is way. netflix will release its numbers on tuesday. hoping to prove that last quarter's growth was a one-off. u.s. director of research, paul sweeney, how are we gearing up for tuesday? >> this is definitely a very earnings r

a bitcoin etf. do you explain that disparity? >> our statutes are written in the 1930s. we're operating off a 30-year-old piece of software. it didn't exist when these statutes were written. more broadly, s.e.c., their oversight is over capital formation markets with a big retail focus at the cftc, it's on risk transfer markets and we've always focused on derivatives and a lot of that is institutional trading. we're focused on institutional investment they're focused on retail. different orientation, different history. we come at these things from different perspectives. >> where do you see the bitcoin market evolving? go out your crystal ball two years from now, what do you see happening? >> two years, i personally think that crypto currencies are here to stay. i think there is a future for them i'm not sure they ever come to rival the dollar or other currencies but a whole section of the world is really hungry for currencies there's 140 countries in the world. every one of them has a currency prob

this is bloomberg. ♪ ♪ remainsr associates bullish on bitcoin.ephen engle that he is standing by his call for the cryptocurrency strength in the face of global market turmoil. >> certain things are tough, when there's political turmoil bitcoin does well, because people say, "i'm not so sure about my government, my fiefdom, my tribe, whatever it is, tied to some artificial geographic border. i might like this decentralized world." i think that's going to be a really interesting time. i think our next 10, 15 years are going to be a major human transformation. >> we are seeing transformation in cross-border trade flows. how is the trade war right now shaping up, in your estimation, as far as opportunity for risk? >> it has played up as a trade war. i feel like it's a trade negotiation. they are trying to figure it out. i know that both countries know they are much better off with open borders, in somehow there are few things they want to tweak in their trade. i think those things are going to -- i hope they will solve themselves. i'm very concerned

you have a bitcoin target. i need to know what it is and why you are not concerned at all from this particular chart where just last december it was at 19,000. we are at 6,197 for coin right now. >> to be clear, it isn't our safe haven trade. bitcoin is really our alpha trade for our clients. we still recommend two or three percentage points to be allocated to crypto, but i think the thing to watch and the reason we think bitcoin will start to act better is that the 200 day moving average is beginning to flatten. bitcoin, by january, is actually going to cross above its 200 day if prices hold here. one, i think the mood of the market's going to improve but i still think it's possible for bitcoin to have an explosive move from here. its volatility has dropped. liz: s&p down 57. the level right now, 2,727. what is your s&p target? >> we think this is a pull-back you need to buy. we think the s&p, seasonally strong fourth quarter so we see at least 3,025 before the end of the year. liz: say that again? >> 3,025. l

more bitcoin steve quirk explains why they go all in on bitcoin. but start with the rate shock. >> scarey music. >> perfect storm on wall street as rates go parabolic. stocks slammed the stocks sinking about 350 points as the lows of the day. as wall street is finally starting to panic about rising rates. is there more rate misery ahead and where do you run for cover pete. >> i'm not a run for cover guy i will say this. there is opportunities out there. >> but you have never run for cover in your life. >> not a big run for cover guy when we hear tomorrow the numbers tomorrow we might have a good chance of seeing the market pulled back even further once again. today. >> even though the numbers will be good. >> they will be good. >> good news is bad news >> good news is bad. we get a sell off and maybe we get to the levels we hit today down 360 at the lows i tell what you stood out today was the way the volatility spiked so fast i mean the fact that it went from 1160 into the upper 15s that's a big jump. how long can it last we get the big spikes, pu

we tell you that and later the good news to bitcoin won't stop where is that rally np spencer goe garratt of blockchain capital says it's here we will back after this. hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. if you don't like their answer, i'm ready to crush ap english. i'm ready to do what no one on my block has done before. forget that. what no one in the world has done before. all i need access, tools, connections. high-speed connections. is the world ready for me? through internet essentials, comcast has connected more than six-million low-income people to low-cost, high-speed internet at home. i'm trying to do some homework here. so the

one thing that's great about bitcoin of course is the creator is anonymous we don't know who it is these other coins they have some personalities yes and it's like a taluk over there in a theory and you've got roger very big point cash. cetera. working against these coins to some degree or what's your thoughts on that that's interesting i think to some degree there is sort of the the cult of personality that grows around you know characters like that. and roger both reasonably well and both really great guys so nothing personal against them but you know there are there are they do get a following and that ends up taking a personality that also is meet those that goes into into the coin and what the governance looks like great stable is going to have you back on so i guess i should mention because it is the place for merchants anywhere in the world right that's right if you want to take crypto and join the revolution go to go quite the extreme guys report thank you i was going to do it for this edition of the kaiser report with a mask guys and stacy herbert want to thank our guests low re

. >> gary: the talk i'm about to give is about bitcoin, and i think part of the thing there is bitcoin has run and i think it's going to regress to the mean. >> host: for bitcoin what does that mean? >> gary: that means it's going down. >> host: but why? >> gary: that's more of an investment thing than a luck thing. it's like there's no there, there. when you buy stock you're buying a company that has earnings and dividends. you buy an apartment you have an apartment you can rent. you buy a business it generates profit. you buy a bitcoin there's no cash whatsoever. you know hope you can sell it to somebody else for a higher price than you paid. you pay a foolish price waiting for a bigger fool to come around. in your book "what the luck? the surprising role of chance in our everyday lives," you talk about power line and cancer in the 1970s, what is that story? >> host: it's like we see something and we draw conclusions which aren't necessarily there. it's this lady and her boyfriend they looked at houses where there has been cancer victims. and they drove around and looked at something

in the last six months, people have divided the world, bitcoin and everything else and bitcoin has beened with gold -- store value. >> with the exception of last thursday, bitcoin false 5% -- falls 5%. michael: it will not be without volatility. we are still a young asset, but i see people looking at that as where i can store money in a from zimbabwe to venezuela to iran -- >> you are still on the store value kick as opposed to crypto and ether and -- where the we're -- world -- wheels of the numeral economy. michael: i am sure at one point, we will have a 3.0s. i am less certain when that is neo, of the ether, 100 odd blockchain's, how they will fit together to create web three point know -- >> until then, it is a scarcity play? michael: you also have to look at who is adopting, are they a market leader? there are plenty of cool technologies with money behind them. >> you are a macro man at heart. i want to talk for a moment about the markets. you can't ignore them and you still run a macro trading operation. outside galaxy digital, if i am not mistaken. michael: correct. 500, you look

of the stable crypto currency which means it's like bitcoin in the sense that anyone with an internet connection can access that nobody can really take your money away from you once you have it but it's stable in value and so each token is worth about a dollar and because it's able in value it can actually be used for things that you wouldn't normally use bitcoin for things like well basic transactions right to nominating prices in basis is easier because it's worth about a dollar but also for longer term things like loan salaries anything that involves time or derivatives and things like that and so really trying to bring the benefits of bitcoin. but also the benefits of which is that it's stable and you really had an interesting thing in our panel you talked about how you sort of transformed your view of regulation from when you started back in two thousand and twelve to explain that for our viewers. so with basis what we found is that. going to be i can go back for a second right so i started out in two thousand and twelve learning about bitcoin and one of the things ironically tha

can we show bitcoin?hy a central banker might not like bitcoin aside from what it is? liz: i get it. >> take a look at the price. here's why -- liz: inefficient. that's what she called it. >> here's why she doesn't like it. bitcoin was started because people didn't trust central banks. they thought it was a fake economy being ruled by central banks. central banks believe bitcoin could be used to circumvent the monetary system. central banks like having power over the money supply. central bankers. that's why she hates it. by the way, just to -- liz: it's almost like you have x-ray vision. it's almost like charlie has x-ray vision. >> you know, i bought this -- liz: i need those. >> i went in to see the great judge rakoff -- liz: yeah, yeah, yeah. >> down the federal courthouse the other day. i was being accosted by security. they were like you have cameras in that phone. i'm like no, i don't. liz: glasses, you mean. >> glasses. these are cameras, you're going to take pictures of the judge. that's right. y

, and bitcoin seems to have restored value.sday , the market falls out of bit and bitcoin dropped 5%. michael it is not going to be : without volatility. we are still a very young asset. ♪ ♪ rishaad: you are watching "bloomberg best." i am rishaad salamat it -- sala amet. sal let's resume our roundup of the week's top business and financial headlines. in europe, where italy's government submitted a budget, still faces pushback from brussels. francine the ruling coalition : has reached a last-minute agreement on the country's budget. it delivers on costly election promises, but risks a confrontation with brussels over eu fiscal rules. will this be confrontational for brussels? >> it certainly is confrontational. it drastically changes the figures put in place by the previous government. the real issue here is the widening of the structural deficit. previously, that structural deficit was going to go to 0.4%, 0.9% next year, which would put it in line with the under 0.5% that brussels required, but it is actually widens now, up t

ashes and dust and kind of the nature of bitcoin sense the last big there is a twenty fourteen mt gox crash you know you referenced that that was a huge one and now we've got this twenty seventeen twenty eighteen back you know that twenty seventeen period could be. set in terms of the ice you know the initial point offering right and what is it what's your view on the initial point offering and what's the future of that what what are your thoughts there yeah i think a lot of people just were victimized by the pump and dump of a lot of the coins that that went out a lot of the big buyers would say hey we're going to hold these for a long time and when they turn out to do is when they're they've got issues they're tokens they turn around wait for the right time and then we dump them back in the market and then move on to the next one so i think there was some you know regulatory oversight did start to come in and there's a lot of sort of guidance given and i think that was a good thing for the market so now what seems to be more popular is what they're calling these s t o's which is the

att: bitcoin is trading $6,600. any predictions?ve predictions after making a mistake in 2011. matt: it was trading for $200 then. i am sure you got the direction right. thanks for joining us, ceo of bitwala. let me get to the stock of the hour. you were putting together my graphic dashboard. you look at the price. vodaphone drop, 1% in stock -- vodafone stock. 35% year to date, crushed, important because it's the second-most traded stock on the entire stoxx 600 index. at the graphic dashboard i've put together to show the most interesting information. you have the one day change their. -- there. you can see the difference in valuation, much more than it typically is. the consensus rating is still revolving around holds and sells. eleven for the sells and 18 for the buys. people are voting with their feet and the money side is not. anna: bloomberg terminal users can interact with any of our charts using the bloomberg function. theext, the battle of charts! this is bloomberg. ♪ ♪ >> good morning everybody. this is bloomberg markets,

bitcoin seems to have restored value.y bitcoin dropped 5%. >> it is not going to be without volatility. we are still a very young asset. ♪ ♪ >> you are watching "bloomberg best." let's resume our roundup of the week's top business and financial headlines. in europe, were italy's government submitted a budget, still faces pushback from brussels. ♪ the ruling coalition has reached an agreement on the country's budget. it delivers on costly election promises, but risks a confrontation with brussels over eu fiscal rules. for more -- >> certainly is confrontational. they have changed the figures put in place by the previous government. the real issue here is the widening of the structural deficit. structural that deficit is going to go to 0.4%, 0.9% next year, which would put it in line with the under 0.5% required, but it is actually widens now, up to 1.7%. that is what the confrontation and rome is essentially flouting the rules. leaders are attacking the spending plans as unprecedented, saying the draft budget deficit can s

hgppy happy birthday, bitcoin.at what apple is doing because they're shining up some of the lesser—known products, it is adding features like facial recognition to the ipad pro and fast processors to some mac that have gone without updates in years. counting new iphones and apple watchers this year, the company will have more than half a dozen products on shelves for the holiday shopping season “— shelves for the holiday shopping season —— apple watches. so get ready to open those wallets. let's look at those markets now because they're doing well in asia, as you can see, most of the markets have opened considerably higher, the nikkei over i%, that is really due to the weaker yen or the strong us dollar which helped the japanese exports, and taking their cues from wall street, we saw the strong gains on wall street thanks to the earnings results, with or technology chip stocks doing particular well, transport stocks as well, so a lot of those asian investors are seeing the uptick in sentiment —— we saw. although of

thirty percent rise last year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china's building two point one billion dollars a i industrial park but don't let the numbers overwhelm. the only number you need to remember in one one business shows you can't afford to miss the one and only boom box. full of them and give you a. group or look at the one man both. they will go ahead with the qualities given through a group will you. want to give up what they now. be thought of but if it did us a by. the end you'll better tell him. because his city brownsville is surrounded by a fence built during the presidency of democrats barack obama. it was a concession made to republicans in support of a move granting citizenship to twelve million undocumented immigrants in the united states. move go up i thought it. looked up only god knows they both of you what is the about that in the moment. if i may he kind of oh that magic i think that i've. gotten to many couples. which had been both you got that all. both. those. three months of tension.

and bitcoin seems to have vested restored value. eric: except last wednesday. bitcoin drops 5%.t is up with that? michael: it will not be without volatility. we are still a very young asset. eric: mike, you are a macro man at heart. i want to talk for a moment about the markets. you cannot ignore them when you talk about bitcoin, and you still run the operation outside galaxy digital, if i am not mistaken. if you look at the s&p 500 at $2765, the 10 year at 3.15%, high-yield spreads at 3.50% over, dollar index at $95, i could go on. what does that tell you? eric: michael: we have had an unbelievable run for nine odd years. trump has got a big election coming. my instinct is he gets beaten badly in the house. but even if he doesn't, even if you just gets beaten, the trump drove the flask run out has degraded a bunch, because he will have a house going after him like little chihuahua dogs, nonstop barking, investigations. his ability to get anything done, we go right into the 2020 election. i think you are losing political support for the market. if you look at the rate charts,3.5

jason: use some of that bitcoin to buy some weed stocks? i don't know.te signs of a bubble, other beverage companies are now pivoting to pot. taylor: from the black market to stock market to maybe even your local supermarket. here is reporter craig giammona. craig: what is happening is the beverage giants are the first movers on this. they have shown up in a big way under the idea there will be a big market for cannabis drinks, whether with thc to get you high, or cbd for wellness benefits. but it stems from constellation brands. they make robert mondavi wine modelo and corona. they made a big investment in a canadian company called canopy brands. they make robert mondavi seeing. coca-cola has expressed growth. that was an inflection point for the industry. it set off the stock boom we ar. it is the beverage guys who havh opportunity. shown up first to take part in carol: you talk about fomo, fear of missing out, for the beverage companies. you talk about coca-cola. i think they shocked the world when they said we are interested in this and we are pursui

they started their conversation on the crypto craze and bitcoin.hael: i do not see us breaking 10,000 by the end of the year, but if the institution starts coming in, it will put in new highs. eric: you trade crypto. you go long you go short. , how do you feel about it right now? michael: we are long. bitcoin has held really well, above 6200. it gets you scared. there seems to be support there. what is interesting is in the last six months, people have divided the world into bitcoin and everything else. and bitcoin seems to have vested with restored value. eric: except last wednesday. bitcoin drops 5%. what is up with that? michael: it will not be without volatility. we are still a very young asset. eric: mike, you are a macro man at heart. i want to talk for a moment about the markets. you cannot ignore them when you andthinking about bitcoin you still run a macro operation outside galaxy digital, if i am not mistaken. if you look at the s&p 500 at $2765, the 10 year at 3.15%, high-yield spreads at 3.5% over, dollar index at $95, i could go on. wh

he doesn't say anything good about bitcoin.sed at how much overlap there is between him and the most hard-core faction of the bitcoin world -- critical -- crypto world. caroline: interestingly, it's not correlated. joe: cryptocurrencies are getting clobbered again today. 10% hard -- crypto falls frequently. who knows? the way i think about correlation is, in a panic, what do you do? you raise money in the currency that your bills are denominated in. i need some dollars. no one has bills denominated in cryptocurrency that i have ever heard of. caroline: i just got pitched by a company saying it has loads of future rentals. joe: by and large, crypto is a very good thing to sell if you need all her. -- need dollars. caroline: talking about buying thoughling, it seems as coinbase, one of the biggest, if not the biggest exchange, has seen a real plunging users. >> they have seen an 80% plunge in active users. prices in cryptocurrencies have dropped. if you are trying to run a business, it is not great. one thing they have to do is f

in months, and yet nothing for bitcoin. >> the bitcoin is an interesting thing. i'm wearing my bitcoin gold equivalence tie today. the funny thing is, people look at the short-term price of bitcoin and they're focused, i think, on the wrong thing. the value of bitcoin as either digital gold, and ultimately as a global currency, is really measured by the network value. the network very quickly but, look, people do get nervous about liquidity panics and if you look at the holders of bitcoin, there is a whole bunch of people that bought it at the wrong time last december, when prices were much higher than the network value. and those weak hands are folding. we think this is a great time to buy it, well below the network value. my mantra is buy what's on sale. buy things under priced, like bitcoin, and other cryptocurrencies, 11 or 12 cryptocurrencies and then i made a joke with some stuff i said to you guys, that, you keto diet is stuff i'm trying to get ready for a half marathon, someone challenged me to, and i think it is all about carbs >> bitcoin or u.s. stocks

it's been a decade ten years since bitcoin and block chain bust onto the same today we take a look at where the technology and crypto started where they are not just today but maybe go in with our friend co-founder of counterpart x. kristie i welcome back good to have you here. we love having you in boston helping us and then you're here telling us not too long ago about how to actually buy crypto we really appreciate your time kristie so let's go back way back machine in kryptos and you know it was bitcoin and it was watching how did it all start while to talk about how it all started when you talk about what actually inspired the creation of decline so this is back all the way in two thousand and eight when the financial crisis was in full swing and then you had in september you had the fourth largest investment bank lehman brothers holdings filed for chapter eleven bankruptcy. and so as the entire financial infrastructure of the world was crumbling you have or register officially as a domain name and then shortly after that an anonymous white paper under a motto was published detai

kryptos and you know it was bitcoin and it was watching how did it all start while to talk about how it all started we need to talk about what actually inspired the creation of decline so this was back all the way in two thousand and eight when the financial crisis was in full swing and then you have in september you had the fourth largest investment bank lehman brothers holdings filed for chapter eleven bankruptcy and so as the entire financial infrastructure of the world was crumbling you have or register officially as a domain name and then shortly after that an anonymous white paper under comodo was published detailing about a bit coin a crypto currency that with supplement and improve the current failings of the monetary system so what this white paper actually said was that big quine in a nutshell would be a peer to peer electronic payment system where two people can seamlessly transact and settle and send and receive money with very little transaction fee in very little time this entire process would be a borderless currency and the main a feature of this would be that there i