What Is Bitcoin & How Does It Work? (w/ Andrei Jikh) - IMPAULSIVE EP. 250

you are literally taking more risk right now not owning bitcoin than having it oh my god like not having it is screwing you more than having that's that's an insane statement yeah just to see that building overrun uh it's it's it's deeply symbolic and obviously we've seen we've seen other stuff like that this year with with the blm protests we've seen buildings burning but to see the the capital of the united states um overrun is a very moving site and a very disturbing site and i think it's indicative of how serious this has gotten in the country and i think there was a lot of time this year where people were like oh this is a sentiment right this is no longer sentiment there are there are uh not not to not to make fun or or even discount how serious this is the [ __ ] stains of this country have taken our capitol building these are these are the inbred redneck [ __ ] of america and i'm not talking about the right as a whole a tiny percentage of the fringe right right similar to the tiny percentage of the fringe left that destroyed buildings during the blm protests right this is [ __ ] this is [ __ ] and is disturbing i got off the phone with my brother-in-law just now who has been deployed multiple times to defend this country and he is almost in tears over this right it's disgusting and we ha and now we and now what we've also seen is um trump has taken aim at mike pence so the pence trump relationship has era has come to an end it looks like uh pence is ordering these people to stand down and to leave the the capitol building and to and to act uh responsibly trump will not makes it the same tweet and this all started because they tried to so so so what's happening right now is today was i believe the day that the electoral college votes were being counted and it was not well so the georgia runoff happened last night but long story short this is all happening during the time of this final uh decision making around who will be the next president of the united states obviously we know that the elected president is going to be biden trump has repeatedly claimed fraudulent election uh this this uh what is now being looked at as a conspiracy theory was the election perfect absolutely not was there problems with voting machines maybe but the supreme court has said there's not enough here the state courts have said there's not enough here and that there is a president-elect now what you're seeing is uh trump's continued fiery rhetoric compelling these people to storm our [ __ ] federal buildings a crime which he's tweeted a couple months ago would be punishable by 10 years in prison when it was done to statues i remember that yeah and so now you know the question will be will he have that same fiery rhetoric towards the people who have now stormed assaulted police officers i want to make it clear i condemned any kind of violence at blm timing too if you if you broke into buildings if you assaulted cops during the blm protest you're a piece of [ __ ] [ __ ] you are a piece of [ __ ] i'm sorry and if you're doing it today you're a piece of [ __ ] and so a lot a lot of good people are condemning this completely but it's just it's a it's a scary time and 2021 not not off to the best star [ __ ] you know to put it lightly [ __ ] i mean i i i yeah you know we didn't want to start on such a heavy uh no andre we apologize and by the way welcome to impulsive the number one podcast in the world i got an intro for you i'll read it here shortly but um yeah it is it is tough when the the world around you is uh at this particular moment quite literally falling right it's it so we wanted to address it and uh it is it it is sad i i i am so optimistic for the day where um we can get past this nonsense and america once again becomes united it's just it's just honestly it's just and i know there's two sides and i know that me even talking about it will piss people off but like it's just regardless of what side you're on right now this is just embarrassing for us the the the world is la is watching and laughing and and looking at a very weakened america we are weaker than we've ever been before since maybe the civil war everyone is mad everyone is divided and it's just a really disgusting time and and honestly like if your if your only hope is not that that we start to remedy this divide then you are un-american you are not a real american the only thing i want deep in my core is for this to stop for this embarrassing era of american history to come to an end and for us to start to heal as a country and if that is not your only you know hope here then then we've got a bigger issue than it seems um yeah well said well said yeah all right well okay let's let's hit the reset button let's kanye with kanye west [ __ ] jeffree star no i don't think so i think so so he's just making up who's dick he's talking apparently that was just he always has a lot of offline [ __ ] why are you guys in uniform that's what i was wanting to know was this plan how can we see this why are you guys both wearing bright yellow tyson ranch t-shirt t-shirts mike tyson podcast is the best podcast oh okay okay okay i got you all right well we're gonna try to uh wow i i can almost guarantee that was the worst camera movement anyone has ever seen shout out mike okay so we're gonna try to one up the tyson podcast today guys with over a million subscribers on youtube our guest today is committed to the magic of finance and helping you on your financial journey he was also the lead cardistry expert and now you see me too it's andre jake how you guys doing what's up brother thanks for having me thank you thank you your microphone looks like abnormally high it does let me lower it you can maybe you can even just tilt it down at the top and then it will yeah yeah there we go so look dude we're called impulsive for a reason uh kind of scatterbrained a little adhd all over the place but uh we brought you in you flew in today from vegas yeah right to come on this channel yeah okay and you came right to this house yeah amazing bro amazing thank you for having me yeah of course thanks for uh uh wasting your time and coming and it's so we should preface to expand out of uh our last episode and just the current happenings of this past week which has been a further bitcoin and and uh crypto boom spurred by this institutional buying that's happened over the past you know few weeks or month or whatever you want to call it and we were on this rampage we're like dude we gotta find somebody to talk to and here you are yeah a lot a lot of people recommended you oh really yeah yeah and the comments yeah you had a lot of how wrong they were so okay so let's talk about you got you got the shirt bro what is the shirt why you why you downplay yourself like you're you're home it's just a shirt this is bitcoin on it premium playing cards that's right okay all right but you you came into the house and you're like you know i don't know why i'm here yeah i don't know why you brought me up that's not i'm not an expert yes you are all right i'm an expert you are an expert i told them you might have said the classic i'm not an expert like don't rely on me for fiscal responsibility is that why you say it a little bit of that okay okay yeah what what why are you are you or are you not an expert what is your where where does this come from were you into finance before crypto yes so i came when i was nine years old to america from russia and my parents were uh cirque du soleil acrobats so they were performers and you followed in their footsteps yeah i was a circus kid but every performer sucks at money like they make good money but they don't know how to manage it right so my whole life i was growing up and i was like what do what do i do with money like i don't want to be like my parents because when they came here they didn't know what credit cards were they didn't know what investing accounts were so i was like i don't want to be like them so i started to learn magic because my dad showed me a magic trick that was so like left field like i don't want to be like them anyway yeah seems like you went straight to that direction man basically opening act now not talented like my parents weren't i wasn't so yeah and eventually i got the roll for uh now you see me where i taught the cast from for two weeks in london it was super are you responsible for that one scene the white lab scene what are you talking about yes where they hide the card yeah on their hand and yeah so john chu the director and i we kind of worked on that for a couple of months and yeah it took two weeks to shoot that that one scene took two weeks two weeks to shoot it yeah wow that scene has been watched so many yeah that scene is insane it's also you you recreating it is your most viewed video on youtube yeah yeah 25 million views i won't play it here but that's that's crazy but why did that scene take two weeks to shoot because we taught the actors how to do everything in that scene for real oh i literally taught them step by step how to throw cards how to palm it how to do everything okay very cool and so so you are an expert right we can we can do it later but i want to have you throw a card in can you cut a banana in half theoretically but i haven't done it in so long i mean i could try but you like sleight of hand yeah yeah yeah yeah okay all right cool so we'll show you some stuff man and many talents yeah and and for some reason i'm like slightly not surprised that the bitcoin expert is also a closet magician yeah do you know what it was like and so that's what i want to try to combat today is this idea that bitcoin is fugazi yeah yeah now you see it yeah seventeen thousand seventeen thousand thirty five thousand yeah but also that's not bad buy anything except for mine to data like what yeah if you figured out let me know no but okay so man where do i start so in 1964 there was this physicist he's a russian physicist named nikolai nikolai i forget was everyone kardashian there yeah right yeah and vladimir putin which is literally my middle name right yeah so nikolai kardashian right so he created yeah so he created three types of classifications to try to like if we look for alien races out there on the planets how do we find them right and we would find them by trying to find their energy output right so the more advanced they are the more energy they use and so we created three types of different civilizations there's type one type two and type three so type one is called a planetary civilization which is more of uh an interplanetary civilization that focuses on getting its energy from the sun from its planet they control the weather earthquakes volcanoes they can stop anything they want that's a type one there's a type two which is uh galac or it's not a galactic one it's a interstellar it's a stellar planetary civilization and so what that is it's uh they use just this have you heard of the dyson sphere no is that a vacuum cleaner yeah yeah yeah thank you that's so good i hate both of you guys no i didn't but i didn't hear the vacuum so that's why i'm actually kind of upset because the only thing i related to right now was the [ __ ] vacuum dyson sphere yeah yeah so so it's like this these metal things that float around the earth okay or the actually the sun okay where it tries to mine the energy from the sun right and so once the civilization reaches type two it goes immortal and so it's it can't be killed because they go to other planets okay so that species can't really be wiped out does that make sense yeah sure they go to other planets sure it's hard to fully grasp what you're saying this dyson sphere is a hypothetical megastructure that completely encompasses a star and captures a large percentage of his power output okay so what could type three yeah that's all i can think about right now herpes it's actually immortal on your [ __ ] just type 3 is star wars right where they're galactic they could travel to different galaxies holy [ __ ] okay so [Laughter] so we how do i pay at walmart with this like they're like sir uh your total is 36.72 you don't understand your dyson vacuum how would you like to pay i'm like i'm from the dyson sphere like you don't understand i'm type three hey you guys brought an expert about bitcoin because he's obviously an expert on a lot of things i thought he was going to start start with satoshi nakamoto yeah but clearly it started way before okay now we're going to go meta okay you are clearly so get us together you got magic tricks we know star wars get us to 2009. maybe we chill out let them explain yeah okay all right so dyson yep yeah okay so type three is star wars right okay where they're galactic and they can travel different galaxies on this scale we are zero right oh because we get our energy from dead plants and coal and our energy is brought to you by exxon mobil [ __ ] novice right yeah okay we're noobs yeah we're like 0.7 theoretically okay we we did invent the wheel so let's chill out we're getting there sorry sorry in one one was able to garner their energy from the stars uh from the from its host star but it gathers it from yeah would that would that mean that solar first that's right becoming type so let's [ __ ] so we are seeing we are seeing evidence every day when we wake up that we are becoming a type 1 civilization so for example type 1 language is english right because it's a it's a language that's spoken all around the world as a second language pretty much so that is a type one civilization's form of language our entertainment our education those are social medias now we're connected by facebook youtube tick tock instagram all those we are connected together with our uh is it just my face how i look it's funny i think it looks funny too yeah i do too it's literally my trademark jeff why are you clapping there's no need for the applause it was funny but i don't think he had to do an ovation for it he stood up out of his seat he's like finally someone said something to him and it was the expert all right go ahead yeah so the type ones form of money that we have right now is the next biggest step got it so so the transition between zero to one is literally the most dangerous transition that a society can go through because maybe that's the reason why we're not finding intelligent life out there on earth because they just self-destruct by that time because what happens with type one is all this technology and information becomes what's called democratized right like everyone has access to any kind of information weaponry anything else so imagine if like a radicalized country gets a hold of how to build an atom bomb probably what happens probably not good but it's hot but it is happening but it's literally happening right now oh so in the next 90 to 100 years that's gonna be our transition to a type one and the next phase is probably going to be the most important phase of our lifetime which is a type one money because that's what it's all about at the end of the day does that make sense all right before we go too far into the roll over to type one because i'm sure we won't get back to this to type two and type three yeah would the transition from type one to be to type two and three be transforming it from english to math so that you could have conversation with other not necessarily no no no no it's just a planetary language for us because it's spoken by everybody got it but i could see how math might be a type three language because now it's universal across the universe that's what i'm saying yeah that's how we communicated when we sent out the probe with the gold disc it was just our music or math right we're like hey here's where we're located and we literally use math to try to yeah so it might be that's a good okay yeah all right so let's get back to script oh good but anyway so yeah type one civilization's form of money is we think it's gonna be crypto because it's like money for the world because every time you travel you have to get like different currencies right there's like the yen there's a ruble and it sucks to have to convert your money so imagine that we have access to a money that is global all across the world for everyone to use so for the first time in human history we have control over money because like if you ask like what is money at the end of the day is influence right that's all it is money is influence and power and for thousands of years that power has belonged exclusively to the elite and to the governments of the world right so it's a it's a the words i've been hearing are decentralized currency nice i haven't got there yet okay okay so i'm going on your business though uh illuminati yeah so finally we have control over our money for the first time it's a money that is democratized that is made by the people for the people that is governed by the laws of mathematics that is owned by literally nobody and that's why they say it's decentralized because you cannot shut it down it's literally like the internet right now the pandora's box has been opened and now it's like how do you shut it down you can't because there's no off switch you cannot turn off the internet right now unless we had like a solar flare or something where electricity just got [ __ ] right gotcha but as far as what bitcoin is you cannot turn it off it just is now and so it's a it's a money that for the first time in human history has not had to ask for permission to exist from our government because paypal tried to do that originally they wanted to create their own money and the government shut them down they're like no screw you we're not giving up control why did that not work but crypto is because the government can shut down a company or a ceo and throw them in jail a company has cryptocurrency has no it has no owner it has no central point of failure that's why they say it's decentralized you don't know who who invented bitcoin not really we actually knock them over we have that i hear this name who's this who's this guy so this satoshi nakamoto which was so the whole crypto network was launched in 2009 right and it was under the pseudonym this fake name of satoshi nakamoto but we think it's a either a a dude or a group of people that were really smart that just put this together there's a few identities who we think we you know he is but you could just google it and you'll find who they are but it's like really debated and contested so who's this guy so that's a dude who i think people thought it was dorian yeah he's a dude who lives in california i think actually they all start going up there like satoshi thank you so much he's like dude i just moped you know somebody's my name is fred who argued somebody literally asked that guy was like are you satoshi nakamoto and he's like i'm not involved in that project i haven't been in a while and apparently he was like a government contractor and so when this came out publicly and the media just like attacked him they're like holy [ __ ] are you satoshi he's like no no i misunderstood the question he's like i thought you were talking to me about my government's secret projects no i wasn't talking about that so so he totally denied it and then something happened with bitcoin where on on some website that hadn't been active for forever was like i am not dorian nakamoto so it's like whoever's behind it was like no this the guy's not it this is all scary or that was him just being like or it literally it could have been that we interrupt this program to bring you a word from our sponsors every new year all you hear is new year new me that usually means you'll be picking up better habits or trying new things and if you take up a new hobby it's even better when you have amazing audio that will make the experience even better that's why i recommend wireless earbuds from raycon whether it's 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and here's what you've got to do to get it go to buyrecon.com logan that's it you'll get 15 off your entire rakon order so feel free to grab a pair and a spare 15 off at byraycon.com logan back to the program i have a question for you um now you're saying that it's controlled by the people yeah uh what happens when like taxes get involved because like the only thing that i'm sure of is i pay taxes and i'm gonna die right so like at what point is the government's gonna get involved dude that's the only two like you know i mean like even religious people are like dude taxes and bitcoin are the best thing ever because the way our taxes work right now is we have no real say over where they like where our tax money goes and so imagine with the use of blockchain which we'll get into in a second like what that is but i guess we can get into it now so how blockchain works right because so bitcoin is based on something called blockchain technology which is basically like so imagine if you sent me a bitcoin or i sent you one right our little transaction gets put into what's called a block a little budget yeah but imagine like a rubik's cube okay like literally a rubik's cube right but it's a small size it can only fit so many little transactions before there's a new block that has to be made but so all these transactions fit inside this rubik's cube and you as a miner who has basically this this person with a computer who's solving these equations right and the reason you're incentivized to do that is because once you solve the little rubik's cube those transactions that you and i had sent between each other they get confirmed or like verified they're official and that's every 10 minutes that these rubik's cubes get solved and then they move on to the next block these blocks are one megabyte in size so they can only contain so many transactions before we have to move on to the next one into the next one into the next one and so that's how our transactions get verified and so anyone can participate in the network and be a minor and try to solve these and whoever's computer is more powerful they get the majority of the reward so okay so stop right there with that statement okay does that make sense yes everything makes sense no no yes okay let's make it yes but no i'm gonna go ahead and say i don't understand at all because even if everything was yeah bitcoin now yeah i still think in my like experience with money yeah whoever has the most of it is in control well hold on so i haven't gotten to the to like the tax part yet so yep okay so it's decentralized in a way where everyone can participate in the network right it's kind of like torrenting where like when you tore into a movie not one real person really has the whole movie it's like it's taking bits and pieces from everybody okay does that make sense yep and so bitcoin has this like public ledger that you said where every transaction and any action that happens on the blockchain is recorded on a public ledger that anyone can see what's going on so the governments actually love bitcoin because it's what's called pseudo-anonymous it's not really anonymous meaning if the government wanted to track what you were doing they could they could see where the code is going into which wallet right so it's pseudo-anonymous the beautiful part about that though is if we transitioned our tax system onto the blockchain we would literally see where our governments moved money does that make sense yeah that would imagine like senators like the georgia senate runoff elections we just had where we could track hey where does this dude get his money from which companies how much this is this is all just there's a lot we've just talked about so much just want to slow down for a second this is all very scary stuff that's amazing it's amazing and i agree with you but you made a statement that was uh whoever has the most powerful computer controls the most whatever or like or like um this whole idea that cryptocurrency is decentralized and and sticks it back to the powers that be yeah yeah right what if all of the magicians torrent nerds redditers uh you know all of these people work for 10 years 20 years to create a perfect new global currency only to have government pass one law that says yo that's all ours now we now control that's the beautiful part i get and i get it and i know and and this is just me playing an advocate here no i jail switzerland is gonna be like come right on in i'm not as worried about does that make sense why why why because they want their businesses to be built in that country they're like oh economic power more for us great you [ __ ] up the opportunity now we're gonna build it in our country so the whole world cannot systematically ban it because where one country doesn't want it 10 others will be like please come to us what about when the entire ecosystem becomes decentralized right where that money is equal in weight in any country and now country one cun now you have a ban that is a global ban essentially it won't happen countries compete with each other for economic dominance and so one country if they ban it another country be like well if you don't want these trillions of potential dollars of business like growth yeah we'll have it okay so it'll never happen what about just taking them they can't take them if as long as you have your private key which is this like string of numbers which you could literally memorize in your head i mean it'd be really hard to but you write him down on a piece of paper you hide him somewhere and as long as you have that number there is no physical wallet that you could have that if you lost or was destroyed that you couldn't recover your bitcoin from the blockchain got it it's about hackers and what happens if you lose that number or that number then it's gone forever yeah so this so so that could really [ __ ] burn so i got it i got it wait so so the solution to that that we're working on right now and by we i mean like me and my team yeah i don't mean like we but like people that are way smarter than me they're working on biometric identification right it's like your thumbprint oh right cool so it's like it'll be attached to your identity somehow okay so instead of a long ass string of numbers it'll be like yeah just put your thumb right here yeah because i know some people who have gotten [ __ ] yeah so there's a difference between leaving your money on the blockchain and leaving your money on an exchange like coinbase or gemini okay because hackers can hack the exchanges but they can't hack blockchain they've tried for 12 years now 13 years almost give it time there is literally hundreds of billions of dollars at stake that is the biggest honey pot we've ever had ever and they've not been able to crack it you don't think they'll just figure out a way one 11 year old there's only one way that we can crack it right now and that is quantum computing which we don't have it's like perpetually 10 years away but that's what i'm just getting at it's like it's perpetually ten years away but like eventually it won't be eventually quantum computing will still happen but there's a solution for that too for bitcoin like there's literally a backup plan you know what it is no you've heard of it you've heard of it i'm sure you've you've heard of it it happened in 2017. and it's in the dyson sphere type 3. uh it uh splits the chain splits halving not the happening you split the block chain you split the blockchain into two different coins where one path is the hacked one which is the original what we have right now is called the shaw 256 cryptographic algorithm that's like the that's like the security that backs bitcoin right so it would split into two separate chains where one of them would be the one that was quantum hacked and the other one could be based on a completely new set of cryptographic rules that is not quantum computing hack hackable which is completely different based on like different mathematics like who initiates the split it's the miners so remember that p those people that like solve the rubik's cube basically it's the equivalent of them saying like uh [ __ ] these rubik's cubes let's go to these other ones right here okay does that make sense yeah so if you own one or let's say 10 bitcoin on one chain and it splits you will own 10 on both whoa does that make sense okay and then there will just be a drop in and there will be a consensus yeah yeah probably that one will like lose value yeah but the consensus model will go with the new chain that is still functional gotcha so it's like it can't really be destroyed because when one gets destroyed it splits into a different one and so the natural next question that people ask is like why can't you just like copy the chain like what happens what stops the government or anyone else just copying the code of bitcoin because it's public like what why can't we make a duplicate of bitcoin right right and the reason we can't is because bitcoin is not just the code itself it is what's called a network effect those are all the businesses that are built on it all the all the miners all the people that are involved you can't replicate that you can't copy paste that you can copy paste the code but all the support in the infrastructure that is running bitcoin cannot be replicated by a copy-paste job in all in at the highest level in all you know like seriousness it's not that wild of a pipe dream to imagine that this could actually take place like like when you look at when you look at what's actually backing the us dollars right which is so important to people and they spend their entire lives trying to buy houses with the us dollar buy cars with the us dollar the us dollar is a piece of paper it's shacked by nothing but trillions of dollars of debt so there's nothing there right like you know what i'm saying so it's it's it it very much is becoming more and more believable that this actually can take place but what it does the byproduct of this actually happening is the destruction of the elite and and i am just so curious to see how that happens and how it's already happened and i know i guess so many times right right in history we've had we've had a transformation from like we've used resources like gems and seashells and then it was like all right cool let's move on to something else i found this thing called gold and everyone's like all right that's the new thing so if you had gold you were the next transfer of wealth goes to you after that we had oil right but didn't it seem like a lot of the people with the most gems their kids ended up with the most gold and their kids ended up with the most oil yeah of course you know what i'm sorry so like at the end of the day it's it's all generational anyways like you've got you've got white kids in greenwich right now connecticut that are pumping bank accounts or sorry crypto wallets whatever filled with coins so that in 120 years their kids are going to yale you know what i'm saying so it's still nepotism yeah yeah for sure that's that's always gonna be around the one thing that's in my mind is that when you said like knowing where a politician moves his money or yeah transparency what i'm saying is i don't know if that necessarily would work just because i believe every country is built off of a lot of dirty money and i don't think they're going to want to expose what they're actually saying they don't have a choice i don't think they're going to let that happen and that's what i mean i don't think a country is going to do that because they might want the money in power but if it's gonna flip the switch on them where they don't have a say on things like that's where people go okay do i want money or power and a lot of people want power money is just a vehicle to give you power so if you're going to trade in power for money it's pointless in their eyes i get what you're saying but in some ways they just don't have a choice where technology is going right at some point the reason that the government can't just get rid of it yeah is because it's gonna it's about to become so relevant with the way that we use it every day that these politicians that we think are gonna ban it they're gonna be like wait i can't ban that [ __ ] i use it myself does that make sense does the idea of those people that were always looked at as the enemy embracing the project scare you you know what i'm saying like all the people that you're like yo these are the guys that we're trying to drain all of a sudden they're like bitcoin bitcoin you're always welcome here guys come on in the senate let's talk about it like does that scare the people that that created this and no getting in bed with the enemy no because i think they're completely clueless as to what bitcoin really is about right now all it is for most people is it's like it goes up in value and i got rich right yeah that's all it is but behind that it's the most powerful tool that humanity has ever gotten and they don't understand that yet damn they don't get it wow i have one more question for you what's that we probably could do more even because we got some time yeah we got two maybe nope i only have one and that's it and then i'm sorry i'm not leaving right after this question i'm not even gonna listen to your answer um my question is what happens when the government's like okay cool this is like actually in effect and it's moving uh [ __ ] bitcoin we're gonna bring all the brightest minds in the world to invent something equally as great as that right but it's going to be under our control and they're they're doing that they're literally doing that right now is it is it a coin or is it not a blockchain it's it's hilarious because that's why i'm saying they don't get it because they are trying to recreate the wheel but instead of creating a wheel they're like making it the most [ __ ] complicated thing ever so blockchain only works if it's going to be a decentralized kind of a thing so what corporations are doing they're like guys we restructured our banking system on the blockchain like why the [ __ ] would you do that you already have a database to do it for you why would you want to complicate it with a blockchain it doesn't make sense to have a decentralized centralized tech does that make sense yeah yeah yeah it wouldn't work it doesn't work and so when they're like we're advanced guys we get it come come to us we're advanced tech it's like dude you missed the point right it's not about having your database be decentralized because you [ __ ] own it you control it that is not decentralized by definition it is not blockchain what about what about the existing i'd like to just just let me chime in same time uh there's so much to unpack here yeah there is a lot and i want to try to understand exactly maybe um what a bitcoin is before we go sure uh any further so uh correct me if i'm wrong there is a finite amount of bitcoin there is correct 21 million 21 million how many have been mined thus far around 18 18 million and how is a bitcoin mined and how many are mined per day you're kind of already hit on it right because it's true it's is it is it is it are there miners they're sitting at super computers right cracking equation until the what happens does a bitcoin like pop up or like where does it go yeah is it in the ether like what happens yeah so imagine so i don't have like the numbers off the top of my head how many are created a day but i do know that i think by the year 2144 so in about 120 years from now that's when the last bitcoin is going to be mined on the block why why so long on the final because what's what's called the happening right oh the one i brought up earlier that's right nothing to do with what we were talking about yeah because every time these people saw these rubik's cubes after a while the difficulty increases yeah and that's just to make sure that if tomorrow we didn't create computers that could just mine everything all that at once we're making the difficulty be exponentially increasing over time so that we slow down on what's called the inflation of bitcoin so that it's not printed infinitely it's amazing yeah so it's like built into it it's insane it gets difficult i don't know this is crazy is it a miracle is it a miracle that happened or was this like a very calculated like i don't know strategic objective with an end point it doesn't make sense because when people try to analyze like what the hell it was there are so many things about it that it's like one person could not have created it because there's like cryptography and coding and economics and game theory and it's like one person there's no possible way they could know and hit upon all these points like you just said like it's like it's like magic like so many things came together in the most elegant so that looks like a bunch of elite people got together oh no i don't think it's not happening i still i still want to know what happens when you know a miner you know he's in his construction hat and he got his pickaxe over his shoulder and he's at his super computer and he cracks the equation like where does the new bitcoin go is it his yeah so that's from what i understand divided amongst the miners that were participating okay of how much work they put into it how much power and energy what is that occupation called what do you do for a living i'm i'm my bitcoin yeah yeah yeah i'm under 18. what is it jeff what's what are these kids what do these miners look like coal hats so so okay so we used to be able to mine bitcoin with this with this computer laptop we were like literally a laptop people would just mine it with our gaming computer and it was super easy but then it got to a point where we had to create specific like asics like this asic technology of these computer processors that were only supposed to be mining this stuff and every cryptocurrency has its own like native i guess formula to mine it okay yeah so exactly so you see these uh i think they're called so bit bit main ant minor you see that right there yeah that one right there yeah so if i buy these so no that one used to cost like 12 grand now it's three because it's not as powerful as it once was so you need a ton of these like people like literally entire rooms dude a month ago i was in some dude's garage the whole garage was just everything was just all these and he's a miner he's a miner and how many bitcoin has he mined he's never told me no one like everyone is so secretive about this yeah and also he probably they don't want anyone to know they want the government tonight right his is probably like a novice set up compared to the ones that oh you know what i'm saying like we've we've all seen the rooms at google and facebook with their data collection yeah i'm sure there are warehouses that have but yeah michael but here's what's crazy so in 2017 michael jeff i love jeff she's always saying something over there you guys remember in 2017 how bitcoin went to like 20 grand yeah i do because i tried to invest back then yeah yeah and uh it was too risky yeah for my financial advisors to uh comfortably give me my own money to invest fire em all and they didn't do no i swear to god and they didn't do it and so now i'm i feel like i'm i'm late right you're not late so what in 2017 uh there was a lot of fomo right yeah but that was from what's called retail buyers which are people like you and me which are relatively not very rich not billionaires right and so this time it's uh institutional fomo right so now you have corporations companies that are investing one percent of their portfolio which is billions of dollars into bitcoin is that why it's so high right now that's what just happened yes that's what's happening bitcoins at thirty five thousand nine hundred forty eight dollars so you have guys like oh stanley druckenmiller like all these super respect respected hedge fund managers that are starting to be like oh [ __ ] i finally get what this is and so they're like all right just put one percent in even the not so even scaramucci got involved yeah right i saw that yeah yeah because you can split a bitcoin right yeah you don't have to buy it split a hundred million ways i believe one bitcoin yeah where's this going man give me an exact target okay that's a really easy example so i think and maybe i'm wrong but i think that bitcoin is going to surpass gold's market cap in about this decade like in the next 10 years the next eight years probably what is that market capability it's uh trillion no so so gold's market cap is 10 trillion right i think bitcoins is look it up is it 650 billion bitcoin i think it's like 650 and just for people who don't know the market cap is what exactly it's like the combination of all the money in that space okay 350 billion dollars for bitcoin no that's incorrect that's incorrect yeah it's like six it's in the 600. so bitcoins market cap could hit 1 trillion in 2021 yeah but what is it right now it's like 600 go to coin market cap right there yeah yeah this yeah yeah all right oh there we go 671. so divide whoever has a calculator divide a thousand by 67. i could do this divide a thousand by 67. divide a thousand by 67 yeah what does it say 1000 divided by 67 14.9 okay now multiply 14.9 times 36 000. yeah that's where it's going oh no oh 537 313. hey mom can i have a few more dollars to put into my bitcoin so that's going to happen this decade yeah but that's not the end result that's just like peanuts for now what yeah that's that's in the shortest so so in ten years one decade possibly be at if it becomes like a global reserve world currency like gold used to be then it could be in the multiple millions per coin yeah what yeah i'm rich yes yeah but that's but here's the thing here's the thing by that point when bitcoin is worth a million dollars like stuff that you think you could afford right now would be 10 times the amount all right because there's no inflation right so it's not so much that bitcoin is going up in value as much as the dollar is falling in relation to it because as we pump more of dollars into the system you need more of them to buy the same thing and that's why it's increasing okay because we're pumping so much money into the system so so basically what that means is if if yeah bitcoin does that right then the the result and what you make out of it is not as great as what people think it really is because of the relationship with what you have to buy with it so my question is there's there's a lot there's a lot more inherent risk with it with a bitcoin investment because the upside potential is blocked by the relationship to what it will cost to purchase things with said profits no they're not that far it's not like such a close relationship it's still a you are literally taking more risk right now not owning bitcoin than having it oh my god like not having it is screwing you more than having that that's an insane statement yeah that's insane yeah and and there's more than one cryptocurrency right so again there's a lot to unpack here so okay so with bitcoin right now we're also gonna see a lot of i think this year probably this year i i could see someone like elon musk or tesla being like hey guys by the way i put like five percent of tesla's cash uh cash reserves into bitcoin oh my god once that happens it's gonna be like a domino effect of like all these companies from the s p 500 which are the top 500 companies in the us right they're gonna start announcing the same thing they're gonna be like oh yeah we had some too jp morgan chased the bank jamie dimon the ceo he's talking [ __ ] about bitcoin and i guarantee you at the time that he was his bank was buying it baller yeah yeah that's how you do it that's how you do it what else would you paypal just announced something right so yeah they're starting to integrate it which is another reason why it jumped yeah like because paypal is gonna do it yeah mark cuban said he'd run for president when bitcoin hits a million oh yeah yeah i hope he's alive bye then he's only like 15 20 years probably okay that's insane that's okay so so yeah though there's there's more than one cryptocurrency right so even on this list okay okay so ethereum is my my second favorite okay or really my close favorite most people's second favorite yeah it is it is the second favorite it is the poster child if yeah uh and the difference between bitcoin and ethereum is that ethereum is gonna be like what's called the uh m1 global supply of money probably so m1 is like economists call it is all the physical money that's in circulation right now that's like the coins and the physical dollars right so ethereum is like let's say we had a dollar it's like you implanted a computer chip inside the dollar okay it's like programmable smart money so if i wanted to i could be like all right if you guys visit my youtube channel i will pay you x amount of dollars if you complete it by this amount of time i could put in qualifiers for you to do it's called a smart contract so if you fulfill on that request then you get sent the money does that make sense and the reason that's amazing is because of what's called dowse sorry about all that it's my mom pick it up mom's more important all right we always pick up the cam hey ma hi we're unimpulsive is everything okay it is i was calling to make sure everything was okay with you so everything's great got bitcoin learning more about bitcoin that's awesome uh okay i love my parents so yeah ethereum it's it's a it's a it's a usd with a chip inside it yeah exactly it's the it's the spendable it's the more transactional yeah absolutely yeah so what's cool is like ethereum is going to allow us to do what are called dals which are like the fancy word for it as decentralized autonomous organizations which is basically like a company without any of the governance structure so that's gonna disrupt entire industries so let's take a look at like real estate right when you buy a house you have to get a real estate agent you have to go find a house you have to get funded for it you have a buyer's real estate agent a seller's real estate agent like it's a whole crazy process why couldn't i just talk to you and be like can i buy your house yeah like why couldn't it be that simple yeah that's what's gonna happen with ethereum very cool ethereum's gonna be like hey i got this house locked in this smart contract if you send me x amount on ethereum it's automatically yours once you fulfill this parameter this is so cool so does so then does each one of these have a different shtick it does yeah but i don't i don't like any other ones other than the top two real ways oh you're you're you're uh anti-dogecoin is awesome dude the goodies coin you don't yeah you don't [ __ ] you don't [ __ ] with litecoin either no no i don't but i'm not saying if they're not legit i'm not saying that i just think that if i have one good idea that's my best idea my best idea is never going to be as good as my second best idea got it hold on yeah but but they're but they're also they each have usps or differentiating factors right so like so like that statement seems odd to me because uh if you if you told me okay i really like mercedes-benz right i wouldn't expect you to really like bmw but i might expect you to really like coca-cola i know what i'm saying like these are these are completely different i would rather be like why would i buy coca-cola or bmw or mercedes when i could buy the guy who literally makes the parts for all of those does that make sense so all of this is off the back of bitcoin and ethereum like all of the other not really okay but i i suspect that ethereum will be able to do virtually everything all of these other ones will change but aren't but aren't some of the coins that are coming out now simply just uh backing for businesses that exist in a more normal uh environment like like um what what are i wish roydo was here to talk about the ones he he was bringing up but like i know yeah do you have one omg algo yeah yeah i've heard of them like oh yeah yeah what are they what are those what are those i don't really follow them i'm just saying that i i think that ethereum will be able to do virtually everything all these other ones are trying to do got it but i i think at the end of the day there is probably going to be like three to five at the most cryptocurrencies that are going to be the top dog in 10 years from now and you don't know which i don't know which ones but i think it's for sure going to be bitcoin for sure yeah they've they've pretty much they've established it yeah ethereum was uh was it created by a kid a metallic butter and russian guy a 17 year old was he 17 yeah he's like a genius an accident right or what happened no no i mean he's like a genius okay yeah yeah yeah you have a rich i don't know well now he is but i don't think he was right yeah he was dude oh my god brilliant so backing this up a little bit to how it continues to affect the society that we live in right because because at the end of the day like this is still only conversation that affects people who have money to put into this stuff knowing that you can't do anything with it right now except for get that money back so like if there's a if there's a grandmother out there or a mother or someone who is struggling to pay their rent yeah they don't care about this episode of impulsive all that much right right like if they're like yo i don't have my rent money for next month right when is all of this going to start to be utilized in actual system when am i going to get to stop and shop to buy a piece of meat for my brisket for me and my kids to eat that night and be able to use cryptocurrency to pay for it the way it's going to happen is we're going to transition into blockchain tech and you'll never know that you're using it they're gonna just pull a trick up it's gonna be behind the scenes it's not right now there's all hype about like blockchain this blockchain that but like you as a consumer will not you don't care like you just said grandpa grandma like what do they care about blockchain this blockchain that just like how easy is it to use can i use it is it simple for me to understand and that's it well what i'm saying is if i if i have 260 right total right that's my net worth sure and i'm watching this show because somebody out there has 260 sure what if i could invest in bitcoin yeah but i needed access to that like if i go to the store i want to use a little bit to buy some gas or something like that you don't want to use it right now it's not a very stable uh currency and it won't be stable for a long time there's gonna be a lot of volatility in the meantime right right so it's not a use case scenario just yet so can't can you even use it you can't oh my gosh what can you buy with bitcoin certainly pretty much everything there's a lot of um payment processors and like credit card companies that have already integrated blockchain cryptocurrency when you literally pay with your credit card you are paying with crypto but why would you want to do that if you paid for like the dude who bought like whatever pizza for however many bitcoins right because and because it went up in value right so why would you want to use it so what so what's the correct way that's literally why bitcoin is growing in value because it is swallowing all the fiat money that is out there like all the bad money that is government money is being like sucked up dysoned dude it's sucking up all this shitty currency and it's growing in value so you probably don't want to spend it you want to use it as a hedge against the current system is this what hoddle means yeah what what the [ __ ] is like oh through thick and thin you just gotta hold it it's all the slang term right it is some dude misspelled the name hold because he was like [ __ ] it all the bitcoin collectors are saying huddle yeah so just hold your bitcoin indefinitely hold it indefinitely sixty percent of bitcoins haven't moved i believe in the last year two years what inning are we in right now for bitcoin are we in the first standing still like has this game just start due i think it just started nice uh can i buy my bitcoin on uh institutional sites like robinhood or sh or should i only be buying a great question on yeah great question coinbase don't buy oh god they're gonna yeah no i wouldn't buy i wouldn't buy bitcoin on like free i'm gonna say don't buy it on free exchanges that are like buy it for free the reason you don't want to do that is because none of them allow you to have uh access to your private keys so that you can't send your bitcoin to somewhere else and like what i do with my bitcoin is like once i buy it on gemini i will send it to uh a service called block fine they don't pay me to like say anything but that's just what i use but i send it over there and again it gets me i think six percent interest on my money which is [ __ ] possible on top of the growth wait it's insane okay for reference the stock market grows seven percent in value per year on average yeah right this company like all these crypto companies they're basically loaning out money they're loaning out bitcoin to people that need the loans okay and in return for holding it there it's like a glorified savings account you just hold it there on a what's called a hot wallet because it's online and they pay you six percent annual interest on that money just for holding just to hold it just to hold it why because they're lending your money out to people as loans okay right wow but you can withdraw it at any time it's not like you don't have access to it you could draw at any time and you you trust this uh random company so so that company is backed by gemini they're partnered up so gemini the winklevoss twins right they're like oh they've been billionaires yeah they're big toddlers so they're partnered with blockfi yep yeah so so all of them most of the money that is on block fi and gemini is in a cold storage i believe 90 percent of the money they have isn't even online this uh tells the difference between cold and hot storage so so hot storage is on a website so that is susceptible to being hacked by hackers right but cold storage is on the blockchain which we talked about before which is not hackable unless you're doing quantum computing which we don't have so that's the difference and it's a physical it holds your mind like you need cold storage yeah uh yeah yeah it is right it's it could be literally on a piece of paper though what's what's it called is it a what's a treasure is this a treasure help i i mean i don't there's a lot of them out there i don't know if you want to plug like a specific one did i just do that yeah well you just well i don't i don't use treasure i use ledger but treasure was ledger nano got like their emails got a fish there was a fishing like hack oh someone went fishing yeah yeah yeah with mine with dysons they sucked up all the fish no uh you know like they sent out a bunch of emails to customers and they're like hey log in here and people like okay oh no so classic yeah oh that is that's like an og oh gee yeah but it did they didn't hack the device itself it was just the emails the emails have nothing to do with the actual physical device you said something really interesting uh i mean besides that besides everything about about a minute ago what was it what were you talking about uh oh oh the the gemini thing okay what you do with your bitcoin yeah yeah okay so you use gemini i do i i did coinbase today coinbase is great okay coinbase is great and why use gemini over coinbase because coinbase works closely with the irs and they've kind of like given them data yeah and then gemini is a little bit more like by the books and like really strict okay and they're a little bit more of a premium option but like i for some reason i'm like i think they're safer what is it what's the cost look like on it uh i don't remember off the top of my head with the cost is it is it uh a premium based on purchasing or is it a or is it if you usually if you use their active trader platform which is like a really it looks like a like a f-15 fighter jet interface yeah which like i hate those yeah then it's basically free you can like if you learn how to use it it's not that hard it'll take you like 10 minutes to learn it i'd rather just pay man i i do too i just pay i just pay it's like it's like the robin hood gold like exactly different options exactly and the winklevoss twins are behind gemini yeah who are behind your what's what's the company that does a six percent interest on your bitcoin block five block and they're behind blackfy yes gemini they're not behind but they're partnered together okay okay they they uh i'm reading here uh they used 11 million dollars from their 65 million dollar payout from their facebook lawsuit against zuckerberg to invest in bitcoin back in 2013. and it made them a billion like a billion yeah more than one billion yeah kind of funny right like ironic they did good still a little short of mark but yeah that's insane that's insane can't be too how much was it back then back 120 100 yeah 120 yeah yeah no 120 i believe it yeah 120 yeah 20 what 12. i think i think the biggest thing about all this is that scares me is the idea that your bitcoin can be hacked and to what capacity like online yeah so just risk what you want or no don't risk any of it it's just my theory is if you're gonna have money it should always be earning interest otherwise what's like you should be putting it to work right yeah it should be earning something but if you don't want that and you're like i don't have the risk tolerance for it just keep it on the on the blockchain and that you won't earn interest but it'll be in the safest place possible i i'm i'm talking about not not on the oh you're talking about just in general yeah like quantum computing no no no no no no i'm talking about like an individual targeted attack yeah because xyz knows that you have a lot of money stored in your wallet somewhere right one of your wallets you mean like if you get kidnapped dude i've seen it i mean yeah it happens right yeah that's not a knock against bitcoin though or the tech no no no no it just it just it scares me because it's gone yeah forever for sure for sure you just have to be smart with it and remember your stuff write it down okay put it in a safe and make sure no one sees your private key it says it says our friend sakoshi satoshi yeah is the richest bitcoin owner yeah he is he's 1.1 million btc but he's not a he's not he's not a real person well i don't we don't i don't think he's alive he's probably not alive anymore really what if sakoshi nakamoto is actually jack ma nah i doubt it jack ma's gone where is he do you know where jack ma is where's jack he's in my closet yeah bro where the [ __ ] is jack ma dude i mean the government took him to probably like a reformat camp can you it's happening a lot there's a big problem in china with business people yeah yeah censorship all the time yeah [ __ ] jack ma dude he's such a good guy dude it's crazy i get overwhelmed when people tell me about bitcoin i've been it is a little overwhelming i've been it is asking questions about bitcoin what the [ __ ] are you doing what are you doing can you show that please why are you shoving that banana that's riley read back on the pedestal what are you doing what the [ __ ] dude you are literally oh there's oh banana what even is it what are the [ __ ] are you doing see you you have a contraption here where you took a metal straw and put it in a funnel and it's like oh my god did you see that hopefully it works it's not gonna work dylan dylan all right i hate what you've done here i think they sell this product to adam and eve wait what is that wait keep sticking the straw in it like when it shits the banana watch this this is horrible but the bigger question is i understand it's not as successful as you thought but what what were you what are you doing like why are you picking it up and he's gonna flip the card at it oh card flicking dude dad yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah it's a rusty on this i've been i've been asking questions about bitcoin for for years and it's such like an abstract concept it took me forever to figure it out like i i started in 2012 and i was like this is cool i was like let me buy it at 100 and i couldn't figure it out i was like 23 at the time i could not how many bitcoin did you buy in 2012 in 2014 it was my first time i bought them i bought six of them for like 300 piece oh my god and then i just wish you'd want a thousand i bought a drone with those [ __ ] six bitcoins no no you should have huddled i know i didn't get bitcoin i was like what is it and then i saw it go down and i'm like ah it's that's just a fugazi fugazi right and i was like there's no way that bitcoin is this hype like in 2017 it came back i was like why and that's when i like really got it are there any downsides to bitcoin downsides any negatives to cryptocurrency or is it all just this is the future dude we're approaching phase one i think so but downside is like you just have to be take precautions about it just be smart don't be reckless and don't start buying alts because you're like wow bitcoin's the future and then some other altcoin is gonna be like yeah you don't understand but then this and they're gonna promise you the world like this is gonna change that's gonna change and you can be like this is great this is the future because that's what happens and then you get screwed you start you start experimenting with like different altcoins and talk to me about nfts non-fungible tokens oh god digital art you're talking about like when it's attached to like an asset where they're yeah so i think you're talking about like um gosh what is it it's uh you're attaching identities on the blockchain like so like because it's an immutable like you can't change the public ledger yep you're basically uh it's called like tokenization that's the word okay where it's like you take your charizard card that you pulled right yep you could be like all right i'm gonna do an ico of a charizard and you're like i'm gonna issue 50 of the equity of this charizard which is by now is like what 300 grand or something yeah yeah i'm gonna 150 grand i'm going to issue tokens right okay each token is worth x amount you can invest in that token that's so cool so now you have literally like fractionalized ownership for people you'll be able to do that with cards with your house with literally you as a career logan paul you'd be like yo i just want my own coin if you want to be a part of my success and my yearly like salary that i make i'm gonna issue 10 of my equity of myself and i'm going to tokenize x percent and you if you want if you believe in my future you can invest in me and you'll own a fraction of my income where maybe you'll get dividends like interest payments based on what you own and that's an ico yeah that's basically sort of it it yes it would have to go through honestly own a part of your your actual body like could they come and collect a great question that's a percentage question that's left up to the courts right that's gonna imagine that like they're you know like cool isn't that isn't that cool though dude that's amazing oh you got it dylan yeah yeah he stuck the banana on the funnel yeah i just went straight way to go okay okay cool looks really deep like the whole thing is in there though yeah what all right guys professionals uh okay yeah i might i might find myself in in doing something like that in the future because a couple of those they're celebrities with coins right the yachty coin huh didn't didn't uh the eight eight coin oh yeah we're all right yeah i mean there's a lot of people that are to start doing that once it becomes normalized then if we can get like the courts to you know honor it like if there's disputes then yeah i think it's going to be a big thing where does it stop i don't know it just seems like people are just like you know what uh my table is now four coins buy them and people are like yeah table coin like where the [ __ ] is this end bro i don't know i'm gonna sell my bath water though yeah like people are already doing that [ __ ] yeah can you buy belle delphine's bathroom with bitcoin unless i owe it to you if she was smart if she was if she was smart she would start accepting for sure that's nice yeah i think i'm gonna sell uh one of my first edition booster boxes really you have another one uh oh bro have another one i thought you only did that one oh my friend what kind of a punch i think i want to sell one of them uh with some sort of cryptocurrency really i think it'd be great that'd be a great transaction that'd be great yeah awesome it appreciates it does you want to buy one right here right now are you going to charge like 15 grand again give it give him a discount so much is it more now uh the first edition boxes are like 350. what about a single poster pack a single booster pack from the yeah from defense if it's is it unweighed you don't know if it's oh you're not weighing them no right okay so i don't know i don't know we'll figure it out that's fair yeah i want to do another break soon and i want to attach a uh a crypto element to it i think this is i think you have the platform to do it in a way that i think is going to get a lot of traction yeah it's such a fascinating uh it's phenomenal futuristic it is yeah progressive movement that's why that's why it excites me yeah type oneself it is type one because now you have a planetary civilization that can involve in like get involved in your career on a global level yeah it's like i wanna invest in you yep like never before has that been possible that's so cool that's so cool yeah i have some stuff planned yeah i can't wait to announce it the government has to hate cryptocurrency for now they just don't understand it and they're scared of it they don't hate it they don't get it yet because all the people that run our government their grandpa grandma they don't they're like what's the internet yeah they don't they don't get it they're not gonna get it that's gonna be our generation yeah does anyone else have any bitcoin related or cryptocurrency related it's so much the right thing to do there's so much that's not good from all of this calculations and metaphysical do you want to try to slice this banana with a card i'm not gonna be able to do it yeah you are i haven't done in so long why not you don't you don't do this because it doesn't pay well because youtube pays better dude can you do a card trick yeah with like a magic trick or like they're bitcoin cards correct i had a deck right let's open it oh there we go okay yeah they're so they're bitcoin cards they are hold on all right can i can i have you pick one yeah yeah sure yeah yeah all right all right carefully george i'm going to stop stop right here yep all right uh take this oh thank you yeah all right where where am i playing the camera that right there uh that one the one the one guy in the yellow shirt all right i'm gonna tear this card see if you can hear it can you hear it yeah yeah yeah i heard that last part there hold on to that and hold it hold it hold on hold it huddle we're gonna dice in it all right i'm not gonna get anywhere near anyone i'll be right here fair is everything so fair yeah it looks good it's gone where's it at logan you've been sitting right i haven't come anywhere near you right not that i know look what's right there where under your microphone no stop dude what where is it wait what is it is it the same match it up match it up hey man uh no he said matt literally give us the card because i'll [ __ ] leave right now the [ __ ] what the [ __ ] how's that possible how did you do that it's [ __ ] just watching how much time that's blocked did you mind this bro that's not okay you know what you just did is not okay and it's also like i said earlier in the show very closely related to blockchain in my eyes and bitcoin like you just the magic of finance i mean it's decentralized peer-to-peer instantaneous cryptocurrency obviously but the question is was this your card that's just crazy yeah i'm good for you man why do you do it off of a bitcoin uh card uh i don't know but i no this is just cards that like i make but i don't sell them yeah i should are you you said you're friends with graham stefan yeah who he bought a pack he bought a pack for dude i was gonna buy a pack from you you should have i should have but i had six weighed packs in on in my cart on ebay and then you're like all right you dropped that video all of the packs instantaneously tripled and gone yeah yep yeah i think i think pokemon's just getting started i just think at some point it has to peak because it's unlike decentralized currency it's not currency they're just playing cards so like or you know at the end of the day like what does it go to just playing cards well great beautiful life-changing magical playing cards yeah that's your [ __ ] mouth sorry but i'm just saying like where does it end it's art dude so i'm [ __ ] with base set first edition stuff blue chip stocks bluetooth tokens bluetooth that's what i got yeah no yes it's so pokemon the bitcoin you know like right yeah uh uh no i don't think i don't think we've peaked no no yeah and on the long term oh look at what you're doing yeah i just saw that that was weird oh yeah dude i don't microphones in my way whoa one more time wait these are called l cuts these are pretty dope whoa how did they find you to to do the cardistry i didn't know that was the word the cardistry and now you see me too oh my god oh my god oh this is insane wow whoa you're like jeremy piven in uh smoking aces whoa he had no trouble unlocking a girl's bra at all absolutely none he was like this and then every girl oh oh [ __ ] you've been unlocking more bras after bitcoin was uh blew up yeah i would assume mind them mine can i try to slice this banana yeah should we all try to slice this banana try it all right all right that was nice i got to show you this this guy do it almost killed me where should i go so you can see how it's like loose a little bit but it's enough to hold it so when you do this when you kick it out the momentum of the card will come out naturally and it'll like just uncurl your hand does it make sense yeah yeah that was good oh you almost killed dylan look at that i sliced that nana you sliced the tip of the dick off that would have killed me oh yeah so you see if you if you use like your body into it you know like we're throwing cards at a banana like it it really uh someone's gonna slice oh that one sounded like that oh justin i'm sorry are you alive or did i sever your body in half okay he's alive that one that one is a whip too oh yeah i don't wanna i don't wanna yeah oh you ate it twice [Applause] oh you know what i have to be in motion yeah if you oh [ __ ] you just like put your body into it you know like like oh that's not gonna be able to slice it because i think that the steel rod is in the middle of it oh that sucks but shouldn't it stick at least no not a knife nice shot did you hear that wow [ __ ] all right [ __ ] this banana why did you get it why did you give us an interview somebody sliced it yeah it's been [Applause] where we going to do a polaroid oh okay that's nice all right i'm sorry do it on the credit card you have a credit card she's gonna kill somebody oh i got that see right here guys this is the future of investing in america okay at work these are gonna be these are going to be people that own the institutions this is a magician and now we're going to give you investing advice are there any other more up and coming exciting uh investment opportunities yeah let me know when are you icoing i want to be part of this yeah yeah yeah i think it's going to make some waves i think it's going to be cool we got a thing we got a thing coming that's going to be cool man uh why does amazon not pay taxes because they they are they keep their money offshore and our laws allow that and so they save a lot of their money explain how that works i'm not 100 percent familiar with how it works like the specific mechanics of it i'm not like a tax attorney they employ they employ so many people they have a ton of infrastructure in the united states yeah they exploit a bunch of loopholes yeah exactly there's a bunch of loopholes that protect yeah corporations from paying taxes they move jeff bezos pays taxes she pays taxes sure the corporation that is amazon doesn't pay taxes because they employ hundreds of thousands of people right and do and by the way i'm not saying this is right or not right but they there's a consensus that the mon that the gain for the country off of them being a corporation is greater than what what it would their tax payment would be sure if that makes sense absolutely yeah but i don't know yeah i don't know the specific laws not a tax attorney at all hire those people yeah that's mad cool man thank you where'd you get that question from just randomly it was on my list i'm also curious because uh facebook it's it's it's crazy to me right like i read somewhere that they they didn't pay taxes and that doesn't make any well how much did donald trump pay was like a couple hundred bucks right oh yeah that's sure too yeah it's a lot weirder when one person pick when a person pays it um republican tax cuts 2017 carry forward losses from years so so you're not being promised by the way by the way here's what happened today right so the senate runoff elections right yeah where so the democrats took both the seats in the senate so now we're going to have a democratic congress and a democratic president right yep so now just stimulus for all 2 dollars stimulus checks like just money for everybody i mean at the end of the day it's all really is it's just waves of back and forth you know what i'm saying well that the bigger thing that will happen by the way and you and you said that on the course to step us to being a step one civilization that decentralized currency yeah would be the biggest step yeah decentralized or centralized government or sorry a a unanimous government without two-party system is actually the biggest [ __ ] sure yes that would be that would be a planetary rule of governance type of thing you know what i'm saying and we could use technology uh blockchain to basically make sure that it's all transparent we have access to it that we have access to it that we can see where the money's going right but what i was saying with the senate so now that the democrats have control over everything this is why bitcoin is pumping and it's going to continue to go because free money for everyone what does that do you flood the economy with more money right so is bitcoin a liberal platform libertarian yeah libertarian yeah not authoritarian no not yeah so they don't [ __ ] with chick-fil-a chick-fil-a like chick-fil-a taking bitcoin i don't think so now justin logan paul throws up massive gang signs no less impulsive without cards all right i think that's all we got i think that's all we got don't forget the hotel it does don't forget don't forget the huddle see if i can oh no oh [ __ ] where are you going all right all right so so hold on hold on hold on hold on we got more troops there's no you didn't see that so imagine bitcoin is like was once four dollars right i might totally screw this up organized all your faces are the same yeah so i mean it's it's real okay so there's not much you could do with four dollars right nowadays uh watch camera right here whoa wow wow did you do that with my money yeah is that what bitcoin you just you just hundred extra money all right well very stupid so that's what bitcoin does yeah it does it appreciates hell yeah that's how we got the woman's bra to pop he's like you got four bucks in your hip there you go she's like oh my gosh it's dyson all right andre bro thanks for coming out in paul thanks for having me yeah yeah yeah i appreciate you bro thank you now we know more and more about crypto and hopefully you guys do too and if you're smart maybe maybe you invest a little bit in in the cryptocurrency do it thank you for watching hit that subscribe button ladies and gentlemen we love you and we will see you next week they're starting to renovate our set finally it's going to be happening the following week so we'll see you next week hit that subscribe button we love you bye

Channel: IMPAULSIVE

Views: 1,271,559

Keywords: podcast guest, Jake Paul brother, impaulsive, impaulsive podcast, logan paul podcast, maverick, andrei jikh, bitcoin, what is bitcoin, how is bitcoin mined, finance, financial guru, bitcion guru, cryptocurrency, is bitcoin legit, how to buy bitcoin, what is bitcoins market cap, is bitcoin better than gold, mike majlak, george janko, magic tricks, now you see me 2, ethereum, litecoin, alt coins, algo, gold, president, joe biden, donald trump, economy, bitcoin price

Id: jVkOpxluhBY

Length: 77min 41sec (4661 seconds)

Published: Thu Jan 07 2021