The 1 Bitcoin Show- Charlie Lee returns! Litecoin Summit, banks, ICOs, BTC, Bcash
Hello. Everyone. Ah, this. Is adam, meister the bitcoinmeister, the. Disrupt meister. Welcome. To. This very special edition, of, the, one Bitcoin. Show. What's, a save a little Bitcoin today, is. August. The 28th. 2018. Strong. Hand. Long. Term long, term thinking, I'm confiscating. One. Bitcoin equals, one Bitcoin we, all believe, that everyone. On this show believes that today that one Bitcoin equals one Bitcoin Charlie. Lee is back on the show last, time he was on the show was August, the 31st it's. Almost been a year you can check out that link below you can check out all sorts of links below I just. Want to say that. This. Guy I think of him you know knew everyone, associates litecoin, with him this, is an old-school. Bitcoin. Dude okay so, yeah so one day that he's you know he's a smart dude he makes up his own coin he didn't know what, was gonna happen it, was all fun and games back, then he, is a hardcore, Bitcoin, guy so, I'm, so, proud to have him on the show to be part of this circle, of people who are hardcore Bitcoin, people and yeah he's got an altcoin too of course, he's, gonna talk about that today but I just wanted to give a little you know intro, here because he's, been a big point for so long and he knows it's. The rock one Bitcoin equals, one Bitcoin so Charlie welcome to the show man, thanks. For having me Adam it's. Alright yeah. Man yeah a year, but I mean we've you've been super busy and we're gonna talk about all the things that have changed in the last year but. One thing that I have fascinated, by and in, terms of litecoin it's something that I have already talked about on my show a few, times I also. Get, word there's gonna be this litecoin, summit, and. You I have been the crypto currency events, and Bitcoin, events, and they, all got ICO stuff mixed into them and then, I've heard about some be cash event, in Asia but, otherwise a, big. Altcoin. Event I mean this is, hop to your type of stuff here this is the San Francisco, South, San Francisco conference. Center which I've spoken at which is a huge place it's, got to be a big event so tell. Us how, this all originated, and what is going on at the litecoin summit insulin, since September, I, guess. It has a long time coming right we haven't had a big or at, any like coin conference, since. The creation of like coin in 2011. So last. Year there. Was all this hype : ah we decided to.
Do. A conference actually a bunch of volunteers, came together and, started. Organizing this conference and, the. Like Khan Foundation supported, them and we kind. Of just went. With it. Alright. So, I mean, this is you're, expecting, quite a few people because it is it's a large location, it's September 14th, and 15th for. Those of you are interested it, I, do link. To it below so. I mean, who, is the is the light point foundation. Behind us this again litecoin is decentralized like. Do. They have a big role in this yeah, the light-cone foundation, is is is, behind it we're, supporting it and we're, yeah. We're behind it but. But you're right it's it's a decentralized, currency just like Bitcoin right there's the, Bitcoin conferences, don't all have to be organized, by Bitcoin foundation or, anyone, yeah. So I mean if, you want to run a like one conference go ahead but, obviously. The like one community is a lot smaller than the Bitcoin community so. So. Yeah so we haven't had a conference yet so this will be the first verse of many. I hope at. The same time it is a lot smaller than the Bitcoin community but. It's clearly a lot larger than all. The, other altcoin, communities, because, I mean this is a big, big, that's what would shock me and like there's gonna be a light coin Congress I really I really have not heard of another altcoin, having. A big conference like this again, the BK and we'll talk about be cash soon they're, quite centralized, I know they've had some big giant meetings, in. Asia, and. I guess - has you, a little meeting scattered all around the world and you know I got a you, know say what I know about there but otherwise, this seems big now you, mention what I mentioned the litecoin foundation real quick for those the people who don't know what is the light point, foundation, I think that's an interesting on it's. A micro. Foundations a nonprofit that we. Started, early. Last year to, focus on. Development. And adoption of light coin, so. We raise money from, from donations from, sound merchandisers, and we, put, that money towards, hiring developers and. Holding. Like in doing this like cycling summit.
Now. I know, there, are some gonna be some good speakers there gonna be some good people in attendance now I want to ask you about a sponsor. That, really uh stuck out to me there I see, it Gemini's, one of the platinum, sponsors. Date. Am I, wrong by saying they don't sell. My, coin do they Gemini, they. Don't yet but they they've. Announced that they have approval, to start, trading like coin so. My. Guess is they will soon I don't see why they. Would support, or sponsor like my summit unless, they want to deal with like coin so. Well. That that clears up a lot for me right there was I was like wait a second, they all you know so yeah but there are big they're a huge sponsor so that is okay that's that's good to know that clarification one, could I'm not, making any predictions but, I guess soon enough if there, are if they're sponsoring, such a conference they're big fans over. There definitely very very interesting, now. You've. Got some well I want, to say at, an event like this I mean. It's gonna be all, like coin talk I assume, they're going to know I cos, they're correct, um. Look, I'm, not a big fan of I SEOs but I mean I see us do exist I'm sure, they're gonna be a lot of ICL's they're just, like any other conference. Company. I CEOs. Can. You build small contracts, on litecoin. It's. Similar to Bitcoin right I mean it depends on what you consider is my contracts so if you consider like multi-sig. This. Is Lucian's a small contract that yes you can use my contracts, but it's not turn complete like a deer okay. And for the reasons. But. Now with, that in mind though. So our, ask a can is you, know our sk is working on smart contracts from bitcoin are they working on some more contracts on litecoin also yeah. And speaking of that ours k also, has. Someone, coming to the like coin summit Tuesday so. We'll, be there but. Listen, I read it on your Twitter what's the name again there. You go the person that's gonna be there for our stay. Diego. This. Is named mine. You. Hear me Charlie yeah can you know yeah, yeah yeah there was a little bit of it yeah who is who's going to be representing our SK there at the at the like one yeah, it's gonna be day go get, your as Zaldivar, okay.
Quite, A nice cuz, twitter handle, is, di. Egui. Tio. Now. Obviously. This is being, held, straight. Up north, of Silicon Valley is. Coinbase, gonna have a presence there at all or I, mean they sell litecoin, do, you know I mean you once work for coinbase so I was quite base doesn't, do they, don't really do conferences, that much I've talked to them and they. Don't do conferences when I was at corn base we barely did any conferences. Or go to any conferences, so I didn't, really expect them to, to. Sponsor us or you or maybe. They might have something will come we'll see yeah. I mean I would assume some random dudes I mean you just go up 101 and you're gonna be there I would assume some people would be there, are. Eco going back to so when I when I burn up I CEOs beforehand, I just. So. Any, anyone, can have a booth. There then, you're saying. Sure. Yeah okay I mean, there, i ce o--'s aren't gonna go to you're like on summit to to kind of pitch their i co so i mean a lot most of the. Sponsors. Have, something, to do with like coin and they're not like picking their own token now. Now with speaking of the word token, there's another sponsor and this is gonna lead into another subject. Matter token, pay they, are a sponsor, now. You. I, believe, it is the the, litecoin foundation, it. Has something to do with token. Pay in terms of purchasing, a bank. Can. You elaborate, on this I'm going to just butcher the whole thing. Tell. Us about token, pay tell, us about the bank, rumor, from. July also, well it's not a rumor, right so we've announced it. Like. A month or so ago that. We. Now have a stake nine, point nine percent stake, in a German bank now when you say we we. As in the litecoin foundation, there, we go, so, yeah, I kind of want to make that separate right the like Own foundation it's, not some people are saying like like rent bought a bank but, like like or network has nothing to deal with the the bank we as, like one foundation we bought was. Taking a bank to try to help with, like, one adoption, so. So. Yeah so that's what we did we, a deal with token pay who, originally, bought. The stake in the bank so, now they also have a nine point nine percent stake, in the bank and, with. It we were hoping to create, more crypto. Solutions. Via. The banking route so having a bank support, crypto solutions, and kind. Of. Support. That forward there are customers, all. Right before. We get back into what token pay is I want to bring up a, wave of the future that I saw from. This this. Financial, agreement, that the two groups have here I feel, that there will be more, and more crypto. Related, companies. Foundations, whatever, you want to say buying. Banks, to. Make the Fiat - crypto. Transition. Easier. And at the same time there, going to be more and more crypto, related. Entities, that are going to become so wealthy that they can purchase. Banks, do you see this as a trend in the future where do you see banks, going in the future in relation, to crypto, and crypto, organizations, purchasing. Banks is this a new trend you're, part of here well. I think the, kind. Of working with the existing financial regulation. Or. A financial system, is really important for a cryptocurrency and I think that's also one of the reasons why I joined coinbase. Four, years ago because I figured. That we. Needed to work with the existing. Financial. System, and make it easy for people to get in and out of the, of crypto, and connect. With the fear rails so. Extreme. Your corn based I wouldn't be surprised if corn base. Buys. A bank or becomes a bank themselves, they're, kind of that. Could I mean that wouldn't surprise me if that happens in the near future.
Right. So I mean I don't, obviously, don't know anything and I don't have any side information about that but, it just wouldn't surprise me. And, yeah I think a lot of companies. Even. Finance came. On saying they're they're, buying, a bank or creating a bank or something like that for so I think more and more cryptic companies are definitely, gonna be, working. More closely with banks, I think, it's really important to make crypto. Easier for for, the mess, yeah. Well, you know that's you. Know you're playing out the whole string, of events here yeah wouldn't shock me if a coin base bought. A bank I mean they're almost banking. In a certain way right now everybody. Remember pound, that frickin like button if you're loving this spread, the word I do, a new show here every day disrupt, meister calm you can see all my, old shows all right let's go back into token, pay what, do. They have a nice you what what, is token pay exactly there's been confusion on that to token, pay is is just it's another token. I did. A token, sale last year. Yeah. I guess you can call it a nice show but most people like, to use the word tokens and say oh these days. But. They basically. They. The. Reason why I mean, I I don't like I SEOs in general because a lot of them don't follow through with what they promise and. Ninety. Percent they turn out to be I, think, like Muslim. They're either like outright scams or, they turn out to be scams because they their, incentives aren't correct they, get the money upfront and they don't spend. It to actually fulfill whatever, they promised they're. Promised. See the people will purchase token, but, from my from. Looking at token paid they've been working hard on fulfilling. Their. Promises, and buying. A bank. And doing, this like. Merchant services that record and stuff like that with, a bank is what they promised so they're kind of fulfilling. That so which is nice so that's why one of the reasons why I decided to. It'll. Be fine for us to partner, with them well. I will, say this they're. Gonna be at the litecoin summit so if, people are in the Bay Area on September 14th or 15th I guess you can ask them yourselves people if you're curious about these tocut paid all, this stuff that we're talking about it yeah oh, yeah. Yeah, if you're if you're not in the Bay Area you can also fly to San Francisco. We. Have a chief. Air is doing a discount. For people flying in for the likely summit you. Can go to your litecoin summit org, and check out the this come and check out who's speaking I think, it's a I'm, very excited about it because we have a lot of like amazing, speakers. I'm. So yeah, I love. I love how you said I'm very excited, about it and you say it's so calm but you need like Adam Meister out there saying. Everyone. Compare/contrast. I think I think everyone's exciting is different very excitement so. But. Yeah so. You. Know we have a lot of a lot of amazing speakers, I'm happy. To to. Kind, of you know that a lot of mostly. Like Bitcoin. Focus. People, are coming to the like current summit to talk about bitcoin. And litecoin and just tech. In general and kind, of push, this whole ecosystem. Board so. I'm happy do you see that yeah. I'm happy, you pointed that out actually, i mean i beginning, this should i try to kind of imply that you how many I mean you're, a Bitcoin guy - I mean you are but you have been in this for a long time and they. Definitely, overlap, there's a Bitcoin, person had a. Light. Coin event it makes sense now that the whole I see girls come into the light point of it with. That but not. That many are gonna be there but I I of course assume they're gonna be plenty of a Bitcoin, related businesses. And speakers, they're you know if there's any one speaker, you're super duper excited about or you think that the people here want to hear about or they don't know about yet mention. A couple I mentioned some speakers here um let's. See I mean there's a there's a lot right so, elusive. Stark CEO, of lightning. Lightning. Labs is, gonna, be speaking. So. Lightning labs as people, know are is one of the. Big. Proponents, of lightning Network. And. Lightning Network is gonna be huge for Bitcoin, is lightning that we're gonna be on like like, going also or I mean yeah, it's already it's already live on like coin it's wrong, yeah.
So I'm yeah. Like never exalt is awesome it's it's still like in beta so, there's still some bugs to be ironed out, but, people are working hard on it and. Yeah. Excited, to see progress. With that and see atomic, swaps over lightning I think, that's gonna happen that's gonna be really being, used by everyone, Wow, dad I mean that's gonna be turning, your light point in the Bitcoin through, it the cross atomic spots yes. Would you foresee that happening on, a safe. Basis. I guess. On. A safe. Basis I mean it's safe now to do it if, people. Have done a few of those the thing is it's, more about easy. To, do right okay. Like, I think the the. Key, thing for lightning, Network is the. Final step is just to make it easy for anyone to use right, now it's developers. Are using it so it's not easy to install lightning never no it's not easy to to, run it to do payments, the open channels but, I think the key step is people, are working on making it making the UX better and, once the UX is there then anyone can use it in that's when we really get to the next level yes. Way. In the crypto space in the Bitcoin space we're, we're waiting. On a lot of UX improvements. I mean. It's that if the lot along with us it's still hard our mothers can use just. About anything that has to do with Bitcoin yet but be, patient people strong, hands long-term, thinking town, that freaking like button alright some other speakers we said Elizabeth Stark who else is someone, that you're, excited about, so. Gemini, is VP of engineering. Ok. Eric. Wagner will be there speaking, let's. See Derek. But we'll be there CEO of token pay so he'll probably give an update on the. Bank deal and what's going on there. As, we as I mentioned before Diego, will be there talking about RSK and RS key on my coin. Let's, see well bill, bar, I will be their CEO. Of Abra. Adam. Draper. Yeah. This. Is good yeah yeah this is a diaper all, sorts of crypto people, be on way beyond light point here so this is yeah this, is this is gonna be a fun. Time indeed. And you gave those logistical, things yeah you can fly into you there's cheap air wow, I didn't. Know about all that well. Let's, let's move on a little bit we'll talk some more uh, before. We move on are you gonna come. Now. I appreciate, that. The people putting this on didn't, put it on Rosh Hashanah and they didn't put it on Yom Kippur, they put it in between the two and as. Everyone, knows out here I'm gonna be back in Baltimore for the High Holidays but. I can't just leave, Baltimore. And the, Joe ever after Rosh Hashanah then, come back right before young kids it's very hectic, I mean it's so unless you get me a plane ticket and, arrange. The logistics, it's, pretty hard for me logistically, being an East Coast Jewish, guy who has to be there for Russia on Yom Kippur but again, I appreciate it you, know that you didn't have there's so many events they have on Yom Kippur and they have in Russian and then although oh the Jewish crypto people can't come and apparently. There, are a lot of Jewish people like crypto from what I've seen. But. I would I would love to be there and I love the South San Francisco conference center and you never know maybe someone will look me up here if you want to pay man I would look I would love to be there it is it's a beautiful location of I know some Airbnb, is nearby people, can stay it for cheap too you can walk there if someone wants to contact me about that but we, just announced there about, like a dozen, there so you two stories that's gonna, be there so you're.
Missing Out oh god Missy I got, it's, hard to get you know with a little, time, period, like that from Baltimore, to San Francisco, to Baltimore, again they asked for Yom Kippur anyway, but I encourage, everyone I would love to be there definitely and the South San Francisco conference center is awesome, it's a good it's a good venue big venue are you gonna have um when. The event that I was that there in January, there was the big room and then there was a small room which was actually for I cos, you're gonna have to different route to different speakers going at the same time or is it just gonna be one main speaker the whole time it's gonna be one main speakers, we didn't have booths there obviously um. But. Yeah some. Of the stuff is still up in there and I'm not down. To the kind, of the many great detail level those of this conference, okay. We have a lot of people handling that which is great well, again if anyone ever has any doubts that litecoin, is a top-tier altcoin, i mean i always, discuss on the show what, makes an altcoin a top-tier it was i don't most of all cause I don't give a darn about at all but they're gonna be ones that survives it or that are top tier ones that are you know on gem and I own coinbase that's something to make some top tier but also when you can get a community, together to have a big, event like this in the, belly of the beast San Francisco, I mean you're, doing pretty well for yourself you're definitely uh got, got a big phone here and I know I want to point something out here there gonna be some people that are good it's so funny how social. Media works because. I had I'm saying the word litecoin people, are gonna say Adam, you said to buy like coin you, love you must hold so much like oh my god the, things of people are the assumptions, that people make. But. The nitpickers, out there you know how do you, as. I said in the last year so many things have changed and, for.
The Better but. You could just become a tremendous, name, way beyond cryptocurrency if you know mainstream, media how, do you deal with all the nitpickers, now you really, you, take a lot from the social media crowd, how. Have you dealt with it or have you changed at all, yeah. I, don't, know if you know there's something we have I've stopped responding. To, most, of the trolls on Twitter recently, it's. Just gotten so much I've got so much hate, from people that it's, just not worth it. Yeah. I think it's probably for the best, so. Been. Kind of yeah. You, know what because the trolls do they just want you to waste your time you're motion and there. They. Want to slow you they I don't know what they want to do half the time there's some people that are just sociopaths, out there well I mean. You can't you can't fall a lot of these people I mean the the price has dropped like, quite a bit since December, of last year so. I, mean it's people are people have really invested more. Than it getting for to lose and they're, really hurting so I mean. I can see why they would hate on hit, on me or hate on people who like, others right so it's. Kind of par, for the course you know they're valuing, their wealth and Fiat though I mean again in, terms of Bitcoin litecoin has, gone down in value also, but. Again. If you, guys got into life going together any, of these crypto, currencies, that are these truly decentralized. Which are few, you're. Betting for you're thinking long term here, you don't fight a lot more than you can choose I mean what you said mean some people start, buying litecoin old credit cards I mean it is personal responsibility I. Mean they they're scapegoating. You but. I mean if you bought like coin on a credit card and that's. People. Just don't, go too crazy where that, that's something that's happened to last year - yeah. We've, gone through some irrational exuberance it's, been unbelievable yeah I mean for people like you and me and like. People who've been in this space for a, few years, they, kind of understand what they're getting into you're right so you're you're buying like coin or Bitcoin or cryptocurrencies, you. Kind. Of are investing, in the future of money, right you know in like, there's this meme going on but like an old me where. The. Thing is like in the future you, don't sell their coin right you spend it so you never need itself and that's kind of the future, we're. Building towards but. A lot of these new people got in and, think of Bitcoin. Litecoin as investments. So, if you think of that as an investment and you bought in that like $300, or $200, now it's at sixty then. Yeah it's a it's a horrible investment, but. And that's why there's this like, Hato mentality, which is when it's dropping. You don't sell you just like, wait it out right as, long as you didn't invest more than you can afford to lose just wait it out it's gonna come back and that's, what I believe in that's when most people believe in it might take a few years, and maybe a few months but it's gonna come back you, said some people considered an investment I'd like to add to that some, people consider it a very short-term. Investment. Yeah where they thought they're gonna buy it and they're gonna sell it the next month or the next week not even taking into Tekken into account long-term, capital gains versus short-term capital gains it and taxes. And stuff, like that it's just a wild.
Irrational. Exuberance that. That, is ik that has occurred but but in any way I do, I want to move on with what, with the people who have bought it for. Semi. Irrational. Reasons I mean, what. Do you think about the the theory. The. Coin base theory, that there were many. People just, buying litecoin. Because it was the cheapest thing on coin base and now, do you think now that etherium classic, is the cheapest thing on corn base will that make a difference for light coin at all, mmm. I don't think people bought like one just because it was the cheapest I think, people buy like corn on. Corn. Base specifically, I think people buy it in. Addition to big quick right, they're not just gonna buy like Quinn and not Bitcoin, but. Then the one thing about Aquinas now is like when is the one that is least confusing there's only one light coin on Columbus there. Are two bitcoins into two. ATMs I'm like this great, boy, dude that cow that like fun that is that's a good point so maybe if you will buy like one because it's less confusing, that. Is, excellent. Point I have not thought about that yet well well. I think a lot of people uh they. Diversify, for, the sake of diversification, well I can't just buy this Bitcoin I better bet by these other things ii don't know what the heck they are but I'll. Buy them all so, now what the speaking about other coins, at our own coin base and. Something, that you've been someone else spoken about I guess on social media is, be. - I'm. Gonna talk a little bit about that and about the bit main situation. I, mean, you're involved, you, know all sorts of minors and stuff I mean back, in the day this. Is not that long ago when, people aren't, going to remember this at all even it was like a little bit over a year ago litecoin, was, the first one to go Segway and. You. Had some discussions, with miners, and stuff so you're familiar with miner, you're familiar with, bit, Maine what. Do you think is going on with dick name right now that they were gonna have an IPO, are. They trying to bail themselves, out stealthily. Are. They holding too much be cash, do. You think be cash is about to split into six different pieces, give. Us your take on that whole bit name be cash ecosystem. So. But. Maine last year they were upset, with Bitcoin, core, and. The. Reason, they. Gave was because, they. Thought that Bitcoin, core. Developers. Were holding back Bitcoin, and. And. Potentially. They they. Think that they're it's hurts, their their perform Argent's. There. Is this other theory, which is that they are doing a sakru's mining on Bitcoin and, Segway. Actually, breaks that so, ASIC booze means that they are they're making whenever. They're. Paid like 10-15 percent less in electricity, costs which is huge for, their revenue or. So. If, ASIC, boost sorry, if Segway breaks ASIC boosts their against seg with that's. Whether they're, trying to block the SEC wit upgrade and. That's why they're supported. Bitcoin. Cash so, they. Kind of also wanted to create a separate coin so. That kind. Of there's, bounds of power where they can control Bitcoin cash which. They. Kind of have control right now and. Yeah. So I'm not like I think it was pretty dumb of them to sell all their bitcoins appointing, the Bitcoin cash they.
Basically Traded a highly, liquid coin, that's. Valuable, for, something. That has very low liquidity and. That. Is very. Speculative so now they have a ton of Bitcoin cash they can't really sell them without. Crashing the market. So. Pretty. Dumb in my opinion. So. I'm not familiar, with like their IPO, or why they're doing yeah I guess they're I mean company, successfully, enough they want to go IPO and. Kind. Of have a payout for their early employees, and the founders so that's. Kind of expected. Okay alright, so there's your there's your be cache thoughts of the day so. You know you have no no, thoughts, on the future of bit, Maine, they're. A tremendous player in in the cryptocurrency space, I mean this is their, valued, at all sorts, of high levels, here I mean it would if. Something. Bad. Happens, to them it could be seen as a bad for, the crypto space yeah. I mean it's, it's good and bad I guess some people want, to see more more. Competition, in this space so, if bit Maine loses, a. Bit. Of power then, there's more space for other minor. Mine trenches come come, up with new products to compete. So. That's kind of good. It's, sort of bad that someone. So powerful is. So. Invested, in Indy cash and. Want. Bitcoin, to fail which, is. Kind of scary. But. I think Bitcoin. Is much, bigger than bit Maine and if, you, kind, of fight Bitcoin, you're gonna lose so. So. You you see if be cash keeps on going. Out they're saying, they're the real Bitcoin, you. Don't see a bright, future if do you do you see them splitting, because there is I don't know if you've heard about this November 15th, they. Might there might be a fork. They. Were founded, as a fork, so, I mean that the precedent is there could they fork themselves, to oblivion I. Think. It's inevitable actually, because there the. Idea, behind the cash is that if, there's any disagreement you four can find out who wins right. So. And, with, so many powerful, kind. Of rich people behind be cash with. Roger and, Calvin. Air and. Craig. Ride and and Jihan, will write all these. Potentially. Billionaires, four. Of them fighting. For who they what. They think is the real Bitcoin. There's, bound to be disagreements, so, I think it's an edvald I couldn't they're gonna like tear themselves apart. Okay. Okay, this is this will be in we're, keeping an eye on, here trust me I want, to I want to move back to litecoin real quick. Everyone. Who's familiar with this channel knows that I I always, talk about the 2020, Bitcoin, Haven and then, some people would be like why don't you talk about the 2019, like, point having now part of the reason I do not is lose Charlie as you remember, is 2015. Lightening the 2015. Like coin having, it, wasn't that big of event not not that much really happy, leading, up to it this, was back in the doldrums, of litecoin when like all the people in btcd were, saying it's dead it's only $2, little, did they know but. What. Do you what do you what do you anticipate here for this uh this, litecoin not having, in 2019. Do you think, that. It could be the thing. That wakes, the. Outskirts. Of the crypto community, up to. The fact that bitcoin, is about to have having, less, than a year later. Were. You guys with a light point foundation, be reminding, people first. Of all people, should have bought like coin and Bitcoin, because. They have having's, because the new supply gets cut in half most people don't even know about that I mean how I just said a million things here so I'll let you take it away but how many people actually know about the like when having the own like I.
Would, Say most people don't I mean most people who bought bitcoin, and litecoin Ric OHS they don't really know about that underlying technology, and why, they. Have value in the first place I. Think, I actually think that having really, won't do much to the price I think the price is priced, in alright, so everyone. Knows about the having is going to happen, and. In. My effect mining. Hash frayed my miners might turn off right, so it could cause. Some miners to turn off because it's not profitable for them I anymore in an hash of the. Hash rate, the difficulty will adjust and everything will be back to normal. But yeah the supply will have or the the. Constant. New. Coins. Being created, will have so that's gonna potentially. Cause a upward, price, pressure because. There's less coins dumped, on the market. I don't. Think and, potentially, because, of that people may buy the coins ahead of the having. Because. They think that that's gonna cause the price to go up so it could be a self-fulfilling, prophecy. But. You never know right like. You said in 2015. The like coin how mining. Rewards have and the price didn't really move much and, I, think Bitcoin, mining. Has had previously. In the present move much where, the price might have moved but it might not be related to having or might be I think it's in. A grand scheme of thing the having, is actually good because it reduces, the supplier actually keeps the supply constant. Right, as empathically increasing, towards 84, million litecoins, and turning, windham in bitcoins so, that's good, as a monetary, policy but. Day. To day price movements, I'm not sure who have much effect well, leading up to last Bitcoin, having there was, a moved, up in price it didn't move up the price to me people started, hearing about it a thought they weren't gonna be able to get as much, afterwards. I mean some of the miners, had to they. Weren't selling as much so there was there was definitely upward pressure for the Bitcoin one last time did you, how. Sure are you that it's because I having not something else what I, I'm. Pretty sure it was I'm pretty ever. Call it going on I mean, there was more and more talk about in the mainstream every, day in the price it, was it was getting more attention Bitcoin. Was getting more attention because of the having I almost see it I'm looking in at it what, I saw back in 2016. As like as a marketing, thing that, they having, was, a mark was marketing. Bitcoin. And thus, created, a desire, for more people to buy Bitcoin, at the same time people. I think tone Bayes explained, it that since miners, weren't. Going to be able to produce as much Bitcoin. After. The having, they started hoarding if they weren't selling as much so not as much was going on the market so there was less supply more. Demand and the price was going up I mean what we'll, see again I I think again. What, we can agree on here is that hardly. Anyone who's involved in the space even knows what I having is so. When it gets revealed, again, the mainstream media starts talking about it in 2020, in terms of Bitcoin it's going to be a marketing. Type of event people, let, their gonna get confusing I think the supply is gonna get cut in half not the new supply so people are gonna try to buy any we. Shall see but it, is III, do I do like your take on this on the on, the light point having that maybe it's not the biggest deal. Some, time so. Well. Thought more when we get there exactly. There's plenty of to and again I I, do wonder, now that light point is more of is known. Like. Back in again. A year ago not, CNBC. You no one was talking about light corn or anything like this now we've entered a realm where. The. The mainstream, financial entities. That talk about crypto. Do, you talk about like coin now also not just Bitcoin, they also talk about horrible things like ripple and stuff but still so, I wonder. If they, will they will wake up to the, light coin having, and start talking about it and thus, that will start the hype for, the Bitcoin, having, I yeah. That's why I've. Been again we've got some time here be long-term thinkers, people oh yes I can I can imagine, DK Kelly, CNBC. Audience all about having in how it works oh yeah. I can. Imagine doing the same and then saying by ripple or so I met. All he, came home I shifted by metal I don't know what metal not not, like physical metal there was something called metal I don't want to get in actually.
We're Going to talk about some other all coins in in a second one specifically, but, I did I want to read something that someone set mean I don't know how true this is but, here I've, been told that there has been a drop, of code. Commits, in litecoin. The, developmental, litecoin has been very slow in terms of code changes, is, this true or what's. What's going on with that. It's. Not true so it's it's basically fudge that people came up with so they looked at our master, branch, I'm. Not sure how familiar you are of coding, so, there's not. At all but, we explained T it's little. Bit but so the audience all understands. Yeah. So there's there's a master branch which is like the main branch we. Work off of a side. Branch. Like. For our. 0.16. Release by 16 release we work off with a branch called 0.16, and so. There's code updates there and we. Recently at actually, this month release a release. Candidate for 0.16, so, I've been working on that and when that is actually finally, release we'll merge all the code from there back, into the master branch and the, reason why we do this is because we, don't want to kind of, litter. The master branch with code. That is half complete right. People who are compiling the force from source we, take the master branch compile, it and run the code so you don't want that code, to be half broken right, the one we're developing. The. Code could, potentially be half broken so, I, mean, I think this is just good coding practice, to not develop, on the master branch I guess, most other projects, do develop on the master branch. And. That's. Why if you just look at a master branch you will see like we haven't done any commits since April, because, we've been working on a different branch. Yeah. So it's it's it's pretty fun and I. Like, this your your best practices. You're. Taking. It slow, being careful is being. Translated. By, some into something bad it's a it being turned into thought it's it's similar to have people fought the Lightning Network you, know it's, you know people, that stick with basics, that, stick with doing things the safe way people. Old nitpick, at it and say no no that's that's failure, it's not being staged it's bad ok I see yeah. And every, time people brought up about this up to me I've explained. It to them but, sutter's, thought all right it's it's just easy to take that picture should, have commits and say. Look, there's no work being done on litecoin and it's because. Yeah. Because we abandon, it but.
We're Actually, releasing 0.16, soon we're, keeping very close to you Bitcoin and we're working on 0.17. Release. Candidate so I mean was if, you've been following me, and like coin you, would actually notice, every. Weeks. Every month where I'll be posting like new source code or new. Releases. Of like on client so. You'll know that we've been working hard on it but that said, we're. Also working on other things right it's like Khan Foundation is working on the core like on Korra we also work on Loaf wallet we work on like on libraries, we work on. Adoption. Talking. To you more chance I'm. Dealing. With partnering. With people and also doing. This like on Summit so, we're doing a lot of work and in terms of like the core like own core code it's just one of many projects, that were working on so. Guys remember follow. Charlie Lee on Twitter. He just made an allusion to it it is linked, to below everything. I talked about in this, video is linked, to below get your t-shirts, your treasurer at my affiliate, links all right I I wanted. To. Mention. Something, you. Just said anyway. Uh. Some. Your bro here we go, Bitcoin. Let's go let's go back to Bitcoin for a second. Something. That you mentioned you mentioned some wallet, that you guys are working, on what was that you just mentioned Loaf wallet okay. Well. Know what is a, is, a fork, of bread wallet okay we did a play on words so it's called our Cisco LaFollette, for like coin. But. Yeah it's it's one of the most popular, mobile, wallets, on iOS, Android okay. So, uh you, know you pointed. Out very strongly. There that there's a lot going on what, is the most exciting, thing going on in litecoin space now that you guys are working on. Hmm. I. Mean. We're not working on it directly but, one of the most exciting thing is lighting network obviously I'm very excited, about progress. Being made on line network which. Would support. Both bitcoin and litecoin and. Eventually. Atomics well I think that's gonna be like kind of critical for moving. Forward how it's how they make how. Big when you like one can work together to make. To. Replace Viette as as. A, world currency. Do. You, see yourself, I mean you're. Pretty. I mean you're. A pretty hardcore BTC. Guy you, for the foreseeable, future you, see yourself stick, and sticking with it nothing can change you someone. Asked is is he gonna stay, as a Bitcoin maximalist, I wouldn't say you're a Bitcoin maximalist, per se but. Manure. Are. You are you don't. See anything changing in, terms of your portfolio. Or anything like that get away from Bitcoin. No. I think I mean, I made a tweet about this like a couple, months ago right if you. Most. People should buy, Bitcoin. First right, so bitcoin is this is the safest bet it's. Not going anywhere it's gonna be, unlike. People, and like be care supporters, and, like what you hear from because supporters bitcoin is not gonna die. It's. Not yeah. It's gonna be around it's still gonna be the king of cryptocurrency for. The foreseeable. Future probably, in my lifetime and I'm. Positioning. Like coin as a compliment. To Bitcoin by working together with Bitcoin I don't, see like coin I'm not like trying, to replace Bitcoin. I think. I mean even when I first, created like coin it's not about replacing bitcoins, but so. Where two bitcoins go right so that's, always my vision. And that's not gonna change. Yeah. Definitely, a lot of people get into this face recently, they they. See they think bitcoin is is. Kind. Of old. It's, not it, can't scale, it's. It's, crap it can't do like whatever. A million, transaction per second therefore you can't survive there's. All these new technology, that new coins that have that, disappeared.
And Bitcoin is gonna take over, that's. All it's pretty dumb all right so. Things. They, all come with trade-offs that Bitcoin is kind of focused on digital gold right and it's the most valuable it's, the most sensitive resistant, coin it's. It, has the most security, has the most money behind it it's, not going anywhere. No. III, you. Know I the question was asked but I know you have conviction, behind your philosophy, you've stuck, with it you haven't nothing's. Changed, you know although the world, has changed in. Portfolios. Of changing with it your. Your basics, have always been there what you stand for and that's that's why I love you on this show and everything I have, a your. Brother had a tweet he. Said that I don't, have it, not quoting it directly in 2028. He he didn't think a lot, of people would be able to afford point, one BTC. Point, one Bitcoin did, you see things going into that in that direction you agree with your brother that it bit I mean that's a few having's away them, one BTC. Point, one BT so I mean to be fair a lot of people can't afford plan one BTC today right. Yeah, so I mean. $700. Is still quite a bit of money so. Yeah. So like, my tweet I did a couple of months ago was saying like spy, 1 BTC, because there's not enough, BTC. For all the millionaire's in the world to own one. Right so, own one and you'll know that you have something that. Not. All millionaires can have right and then after that then you can buy some like coin you, can buy all these other coins. And. And, kind of diversify, but at least make sure you hold something that is kind of the most. Safest. Yeah, it's the world reserve cryptocurrency, yeah, and and, time. Has shown right when when a market crash everything. Crashes faster because people people. Switch back to Bitcoin it's, the flight to safety array they're buying back the, safe asset which, in cryptocurrency space, its Bitcoin. Yep. Well again, you said start with one Bitcoin that's the name of this show the one Bitcoin show that's why I encourage, everyone to make their first goal also because, you're absolutely right there have been plenty of millionaires, in the future who won't they'll, just be impossible they won't own one Bitcoin there won't be enough of Bitcoin, out there for them to get so you're if you're right now if you're thinking just get one yeah, you'll, be in good shape I think it'll be a rarity, to have one in the, future there's no doubt about it, you, you you, alluded to diversification. There, and I, want to get your thoughts on. Diversifying. In the world of crypto and I'm gonna combine it there's a guy named Josh you've sent me some super, chat Thank You Josh very much for your questions, on, a past show that you were on here you. You, mentioned deep credit, so, we're gonna talk about and. Everybody will go Charlie leave D Krebs a huge story. So. That are. You still fan of and, what, do you think about it you know, there's. Something that people could diversify, into, a. Furyk. For example, what do you think about crypto, diversification, and all these people saying oh you're my, cryptic, what do they call out their crypto.
Crypto, Folio, or whatever their, coin folio, I think it's ridiculous, to tell you that I mean I am. Huge. Bitcoin, and then I have a few other things that people have given me and stuff but uh and yeah like coin is yeah I got like one on my trailer or two of course but, what do you think about the diversification, and, out outside, of like Quinn of Bitcoin in terms of diversification, and then your thoughts on deep trade also. Yeah. I think diversification. Is, important. Right so. What's. Your certain degree I mean some people have like a 100 all coins and I just don't understand what the heck they're doing. I've, also met people like. Randomly. Who, told. Me their portfolio, which is like 10. Different ICO tokens, they don't hold Bitcoin litecoin or, a deer or mineiro. They hold like all these random crap because they think it's gonna go up in value more okay. That's. Pretty dumb but, I would say like diversify. A bit like five or so, coins. That you think do see things a bit differently obviously I like bitcoin, and litecoin. Not. A huge fan of its theorem but, if you're him could. Be a token. That. People like I, do, like Manero I think, when I was doing privacy. The right way. Not. To say Bitcoin like Ron won't have more privacy in the future but at least yeah, I'm one arrow. In. This one what do you think about it I like it I like it they can't like my secret I've, always liked equate I think that they have a good team and. They're trying, to do. Governance. Yeah, I think they're approaching, it right, I. Like it much better than all these other governments, coins governments. Coins how, important, how, big are these governors coins can't even be now it seem to be a trend about a year ago now we we're, moving, back to our privacy, again we're gonna talk about privacy in a second the, thing about all these other governance, coins is they. It. Seems like they have their very centralized, which is is, token they're very like, trying, to create a government's, on chain, governments coin but then the whole.
The. Whole team, is so centralized, and if there's anything goes wrong with the team that crashes the price of a coin it's. Kind of this. Ironic. Yeah. All. Right so let's another. Obviously, you mentioned manera you think they do privacy, right. How. You know we've, heard about lightning Network on top, of Bitcoin is going to make transactions. More I've heard it might, add to some privacy here where, do you see bitcoin, and litecoin going. In the privacy. Direction, and what. Do you think about privacy all coins in general, I mean you'd give an opinion on an error there will will will. They really need to be privacy, all coins if Bitcoin gets it right well. First of all most privacy, all coins don't really deal privacy, correctly, so they're kind of just marketing, over technology. You. Probably know which ones I'm talking buy. So. Yeah so the. Ones that do, I I wouldn't, I would name two coins that really do privacy, well, which is Manero and Z cash whereas e cash has I. Would. Say better privacy. But it's new technology. So. It's it's less tested, well tested then like, when, there was rain signatures. But, the problem with Z cash is. For. One there's this founder founders, reward which, is crap. For a decent. Drugs currency the other is that they don't do. Privacy. All the time so, there's, some transactions, that are not private somewhere, private and because, of that it really destroys the privacy, when you can actually link non, private transaction, with private transactions. So. I like the fact that Manero does everything private. But. They're they're trade-offs rate with manaro because. Everything's private transactions, are a lot larger. Nodes, have to keep track of all the. Outputs. Right all that and spent transaction. Outputs ETA excels, and. That it, doesn't scale as well so. In, terms of like bitcoin and litecoin I, think, privacy is very important, in terms of good, sound money privacy.
Also Not, a way you think about is fungibility, yeah, if I get like a $20. Bill I shouldn't. Be able to tell the difference between two $20 bills and, I should be able to use any twenty of all the dollar bills I have without worrying that there's. Some. Drug. Powder. On one and it could be potentially. Getting me in trouble but even, if you're not doing anything illegal. Financial. Privacy is important if you get paid your, salary in Bitcoin, you don't want to have to, buy. Up a cup of coffee and then all some the Burson knows how, much money you made, in. These days if you, really use Bitcoin litecoin, sometimes. You have to think about which output. You want to spend but. You have you, just bought a bunch of coins for in exchange deposits. Your web to your wallet you, may not want to send that to someone. Because they may know that you bought ten bitcoins or something more, right. So, this, kind of stuff really makes hurts fungibility. Which. I think is really important for money so, I like to see Bitcoin litecoin kind. Of take, further, steps towards, more privacy, something. Like confidential, transactions, or. Even. Better privacy. Technologies, all, right now we have a question, from the audience. Javier. Suarez sent ten dollars in the super channel thank you Javier. Now I'm not gonna endorse the first part of your question here, because. But. But the second part is is I think school he says hi Charlie, thoughts on green, coin, and, nimble. Wimble, and. Well. Nimble Wimble beyond like, point. I. Really. Like remember. When well so remember, when both story, is kind of cool right someone, just dropped, the. Minimum linville paper like, anonymously. Out of nowhere. And. Now we have there's a team working, on this grim coin, trying. To do it the right way, I like it I call, it that I think, they're they're, not out yet they're releasing maybe next year. And, it's it's kind, of it, does privacy, a totally. Different way I like, the way they're approaching, it, it'll. Be hard to do member window on bitcoin and litecoin because I require, like kind of redoing the whole infrastructure. Definitely, be a hard fork so that's, gonna become very contentious. You. Know we'll see where that this technology goes but I'm really, yeah. I'm pretty excited, about it okay. This is interesting because when I hear the word green coin and iconic out another all coin but you're saying formidable, Wimble to work its best it's gonna need its own coin. It's. Different, enough from bitcoin, and litecoin, that.
You Can't just, solve. For active where is that going to bitcoin and litecoin. Yeah. It changes the whole structure of like. Past transactions, and blogs so, yeah. They will have to it will have to be a new coin, at. Least tested on new coin if if. Like. Coin eventually, does want to implement remember. One more technologies, then it would require a huge a pretty. Potentially. Controversial hard work. All. Right there yeah well, Javier that, was a good question dude I didn't know about the grim point yeah, I'm learning something here today this great pound that like fun everybody okay Charlie. Lee well looks like we've gotten, toward the end of this show, let's. Quickly, go recap. You. Know your thoughts about the the, light point summit the dates it's happening, you. Know give it a good promo there, yeah. So liquid, summit is september 14 and 15 in, South, San Francisco, I. It's. Gonna be a really cool summit, I mean I wanted to kind. Of to, my own horn but. I'm. Just excited that you see all these great, speakers there and if, you want to come meet me and. Tell. Me how much, I suck for what I did last year. Come. Come. To like when some of it I'm. Talking, about tell me about it. But. You've done some very solid things, here bad we love, yo keep going keep going yeah. Yeah. I think there's gonna be lots. Of great stuff coming, out of the lake on Sunday. Yeah, you know obviously, they're there you, allude to a time where there was lot. Of stressful stressful. Trolls, out there all these haters out there now, you know the time has passed and. You're going into this really positive, event this is gonna be such a positive for litecoin, do you feel like there's a load off your back now you think, are, you feeling different than you were a few, months ago and everything, when. You when you were the biggest scapegoat, on earth you know all these troubles, got a skate go they've nothing better but. I dare you feel like a load off your back, mmm. I, will. Not yet. When. The price goes back to to the high I'll feel much better okay. Yeah. Last year I mean. It's. It's, been tough I mean last, year. When. I don't kind, of talk about like when most people would hate on me for not not. Talking about litecoin and if I did talk about like when people would hate on me for, for. Pumping the coin for. Pat for my own financial, benefit so it's. Kind of. Damned. If you do damned if you don't so it's, been this way for me for quite a while and I think it's probably in the foreseeable future to. Evolve. Into something different here I think this this. This event it's, a very positive thing and you know you, said darn if you do darn if you don't you. Know when you mention deke red though whoa, I gotta tell you that's everybody, loves that. Big. Running jokes on here I say the word deke red all of a sudden, too deep, oh my, god they come out of nowhere, they. They, really loved you I mean you were like their, top aisle for, the. Litecoin guy was the biggest guy indie cred it was it was quick quite. A quite a quiet, time we were living in a year, ago all you newbies, out there but who, knows it's all cyclical, what, is what's, next. Any. Any, any predictions any future positive.
Things You want to bring out there before I really, thank you for giving me the time of day to day to be able to be on the show it has been great and I, see, huge, bright, future, here for for cryptocurrency and Bitcoin this is only the beginning that, that's that's that's the way I conclude, things is like we're so early, in all of this well, we're. Definitely very early um last. Year I. Remember. Like early December, when I actually tweeted that. Yeah. When the price is just going up like crazy I treated that you have to be careful don't invest more than you can, afford to lose cuz. They we could easily go into a bear market where, the price drops 90%, and, then I got all this hate from people saying that time. Has changed it's, we're no longer in 2013. Like, the price will keep going up there's, ETFs there's futures, as ETS coming, we. Won't, see 90% drops ever again. But. Now we're here, so. I think we'll. See more of these ups and downs on hang, on to. Your rollercoaster I guess yeah, I was about to say the word rollercoaster. So, yeah, there, was whatsoever they actually. Peppers has some rollercoasters anyway, roller, coaster of love that's what crypto is our HR League well thank you very much everybody remember, if you're, new here subscribe to the channel, like. This video accound that like button we do a new show here every. Single day of the weekend this week in Bitcoin is our wrap-up, show on Friday so keep. On coming back here thanks again Charlie, Lee hopefully, you'll be back in less than a year but, if not you'll be back in a year it'll be fun everybody. I'm Adam I should have been quite measure this for my sister Marissa's right like this with you shows video check out the links section below bye bye everyone, have a great day see, ya.