forum on kaiser report we covered that on kaiser report we were also contacted that same month by john meton us who was a very early adopter of bitcoin and he said to me stacy i would like to come on in europe and i would like to come into your studio in paris and discuss this thing called big coin. course this is paris max and it is here where our personal big queen journey began that's right a little bit of big oil history max to stacy first learn about bitcoin right behind this store on the sixth floor well max you can't really go to the moon without lift off and lift off for us happened right here in this studio where you interviewed for the may thirty first two thousand and eleven episode number one five one there who like to see you know state you interviewed john meton s. about bitcoin yeah i love this episode it really see us in a raw beginnings of the show and the story of bitcoin and john were telling us i thought it was brilliant and explain to us what it was all about. welcome back to that kaiser report time now to turn to economist john mcdonogh so what is bitcoin the very basic

first two thousand and eleven episode number one five one the gulag casino state you interviewed john meton us about it coin yeah i love this episode it really see us in a raw beginnings of the show and the story of bitcoin and john the tonus i thought was brilliant and explain to us what it was all about. welcome back to the kaiser report time now to turn to economist john mcdonough so what is bitcoin the very basic level big coin is a peer. peer distributed electronic currency when you lose bitcoins they're destroyed you can't get them back and just like when you burn a dollar bill that hundred dollar bill is gone from the system so that's what makes these so unique and different is that it's not just a counterparty trade like with pay pal it's a digital bearer token that you can actually send to someone over the internet and we haven't had that before on the internet which is a lot of what a lot of people miss this again a clearly this is a challenge to the status quo so but you're taking on the establishment in this way so clearly they're going to feel threatened at some point or do the