Welcome everyone it’s as the New Kids On
The Blockchain well, I’m flying solo today because Lisa is busy doing some
funky new documentary about rock idols, I am joined by this crazy little fool
though, everyone’s favorite blockchain hound buddy now what have we got on this
week’s show it’s another blockbuster we’re chatting to a gram from polymath
about them teaming up with Charles Hoskinson to create polymesh the new
blockchain for security tokens we’re chatting to honor from coin safe we also
have the last part of our crypto for beginners which is about how to move
money around on exchanges so well worth watching and of course starting with our
news roundup first up in Bitcoin news from coin
Telegraph backed names launch date for Bitcoin futures testing institutional
cryptocurrency platform bat will begin testing its first product physically
delivered Bitcoin futures on July 22nd the company announced in a blog post on
June 13th backed which has seen multiple delays of a regulatory compliance since
its original announcement in August 2018 will offer futures as the first in a
series of offerings full details of which remain unclear on July 22nd two
days after Apollo 11th 50th anniversary backed will initiate user acceptance
testing for its Bitcoin futures listed and traded at ice futures us and cleared
at ice clear us chief operating officer Adam white wrote in the blog post adding
this is no small step the launch will usher in a new standard for accessing
crypto markets compared to other markets institutional participation in crypto
remains constrained due to limitations like market infrastructure and
regulatory certainty next from CCN search engine data shows
China is fueling the Bitcoin rally over the past three months the Bitcoin price
has risen from three thousand nine hundred eleven dollars to eight thousand
one hundred and twenty against the US dollar on major crypto exchanges
demonstrating strong momentum supplemented with a clear rise in volume
in recent weeks the interest was Bitcoin and Baidu the most widely utilized
search engine in China spiked significantly to 2018 levels which could
potentially indicate an increase in the demand for the asset by retail investors
in litecoin news now from news BTC litecoin approaches 600 percent gain
since last September but be aware of the potential 73 percent drop pre harvick
throughout most of 2019 litecoin the crypto currency fought from bitcoins
codebase by former Google programmer Charlie Lee has led the entire crypto
space out of the depths of the longest bear market on record much of the
bullish sentiment surrounding litecoin price is being driven by pre having
speculation profit-hungry crypto investors have been buying up litecoin a
of a potential price increase but with litecoins having less than 60 days away
and with the asset nearing 600 percent returns for investors who boldly took a
risk and bought the bottom back in December 2018 in anticipation of the pre
having pump the rally may soon be running out of steam
one crypto analyst believes that litecoin price still has room to climb
but has issued an ominous warning that a potential 73 percent drop could be ahead
in the coming days he does state that it will potentially go a lot higher before
that happens though from the mainstream financial press cryptocurrency up three
hundred and thirty percent this year and its name isn’t Bitcoin says Bloomberg
this year’s top performing cryptocurrency is up more than
three-fold and you’ve likely never heard of it as Bloomberg liked going which has
gained more than 330 percent since the beginning of the year is outpacing all
its crypto peers including ether and XRP as well as the best known and largest
token Bitcoin it has a market cap of around eight point four billion making
it the seventh largest digital asset according to data compiled by mosaic
research limited onto Cardno now and from news BTC Cardno leads the pack with
a staggering 24% increase in the last four days Cardno a da was trading around
nine and a half cents by 10:00 a.m. UTC on the crypto exchange by announced on
Wednesday this week up eight point five two percent since the asian market
opened making the assets most towering one-day performance since May 15 the
upward price action pushed a da’s market capitalization to 2.4 1/2 billion or
nine point nine five percent of the global crypto market valuation at its
prime a da’s net asset was twenty nine point nine four eight billion per the
data provided by coin market cap on two ears now
and from crypto news a oz price analysis block one handling blockchain issues EOS
price surged expected block one parent company of iOS is finally fixing the
blockchain issues raised by many marketers international law firm Holland
and Knight LLP her sighted block one is its client the
law firm handles regulatory and government affairs blockchain technology
and e-commerce affairs and dissent reom unplanned the virtual property game that
runs on the EOS Network what is upland built at the intersection
of the real world and virtual world our plan gives you the power to buy sell and
trade virtual properties based on real-world addresses just like the one
you live in today but in the virtual world the digital properties you collect
in Upland don’t have any associational rights to the correlating properties in
the real world however the addresses do mirror
real-life locations uplands economy is powered by an in-game currency called
upx pronounced up X once you own a property in Upland you can start earning
a yield on it which will be sent to your account in up X pretty nifty right they
say I’m always a bit wary of these kind of virtual things that don’t really
exist it all seems like a bit of a funny old business what do you think let us
know below so blockchain banter this week we haven’t sputters – the guys from
polymath Furr we’re trying to work out nearly a year now so they’ve had lots of
exciting stuff going on over there so we’ve got Graham with us welcome Graham
be there yes how’s it going ash doctor yeah good to see you – I mean I guess
first of all what’s been going on in the world of security tokens since we last
chatted and what’s been going on over there at polymath lots of news recently
obviously and tell us what’s been happening yeah I mean a ton of things
this space moves incredibly fast there’s really no shortage of new strides that
have been made in the last year so what we announced recently and so this was
something we announced at consensus New York so it was about three weeks ago now
was polymesh and so polymesh is our initiative to build a purpose-built
security token blockchain and we’re actually doing that with charles
Hoskinson so some people may know charles charles is the co-founder of
aetherium he’s the co-founder of Cardno so the number two
in number 10 blockchains by a market cap on earth right now so he is helping us
co architect this blockchain that we are have codenamed polymesh he’s a smart
cookie he’s definitely one of the guys that we
follow very closely it’s funny how we kind of you know the there is a lot of
tribalism with people that follow you’ve got the kind of Eos people who were down
on card ah no and the card I know people who have done is it’s like football
teams in England it’s like Manchester City vs Manchester United we did a video
last week which was kind of like Yas vs card ah no and the vitriolic comments up
and down about you know I find it fascinating abut you know some of the
people were like oh charles has just dumped card on oh now he’s gone off to
do polymesh and other projects and I guess you know you can’t win in this
business but it sounds like you know he’s an interesting guy to team up with
a very smart man and what’s the kind of objective behind polymesh them the
objective is it starts with kind of our story and how we got to this point so we
were building polymath and 100% built on aetherium so I would describe us as the
leaders in aetherium development in terms of security tokens so er C 1400
which is something that we helped spearhead so a standard for security
tokens that’s now been adopted by the community hopefully that will be merged
into the etherium codebase very shortly and it’s looking very positive that that
will occur so us being the leaders of that and the leaders in security token
development aetherium we recognized that there were some areas where cerium is
not the ideal solution for security tokens and it works and it’s been an
absolutely amazing place to experiment and we’ve been able to have some great
issuers that have created security tokens through polymath and our current
product but when we looked at well what will security tokens look like in let’s
say 10 to 20 years we think there needs to be purpose-built
infrastructure to enable that really Stampede which is what we talk about all
the time stampede of assets coming onto the blockchain there needs to be that
purpose-built infrastructure for that to take place and that’s really what we’re
doing at polymesh and Trevor who is one of the cofounders of polymath he has
known Charles for just because they’re both around in the
early days of aetherium and trevor really thought of no better person to
help us build a blockchain for security tokens than then Charles and so they had
been talking for a while Trevor was able to convince Charles of
how exciting this opportunity is in so we’ve got Charles on board and so now
here we are working on we’re in the research phase right now so I mean we’re
not giving any dates in terms of when polymesh will be live still a ways down
the road but very intensely working on what will this blockchain look like what
is the consensus mechanism how is this going to work what are the features that
need to be there for securities and for security tokens and for all of those
types of assets that aren’t really there in existing block chains and hypoa
and additionally like how can we plug in play from other block chains where we
feel like there are some features that make a lot of sense it’s interesting to
hear you took about 20 or 30 years ahead this is such a fast-moving space that
it’s hard to think two or three weeks ahead right come on yeah yeah and I mean
and that’s what we were doing in the early days is how can we create a
product right now and get as quickly to market as possible where we can have
people creating and managing security tokens and that was why we chose
aetherium it was the most robust blockchain by far had the most developer
activity people were creating these utility token things on on aetherium and
we said well let’s take that and let’s extend it make things regulatory
compliant give issuers the tools to be regulatory compliant to allow them to
issue these things called security tokens which we really helped create in
terms of the industry and that was great but now it comes time for an incredibly
long term vision of what will this look like in the long term and we have come
to the conclusion that it is going to be a purpose-built infrastructure it’s
great and I guess you know the landscape since we last chatted is this kind of is
constantly changing obviously security tokens when we were chatting last you
know it’s all anybody was talking about have security tokens kind of lived up to
that hype and as it continued to develop in the way that you thought thought back
then it would yeah I’m gonna say no um so I mean the
hype the hype is huge the hype is still huge and for me personally I I mean we
were talking about in 2017 that so I joined polymath as the first employee
back in September 2017 and I went home and yeah I have to give
the shout out for that and I mean I’m I’m think I’m sitting there thinking
okay cool January 2018 there’s gonna be trillions of dollars of security tokens
and that didn’t really happen and I mean the amount of innovation that’s
happening in the space and the amount of progress that we’ve made is gigantic but
it’s still not there to really what anybody is happy with there’s all these
players that are contributing really to this vision where we see every single
financial security being a token on a blockchain that’s what I’m hoping for
and have we lived up to that hype no way but I mean we’re constantly moving in
the right direction and every single day really that thesis of security is being
represented by tokens on blockchains that is coming to fruition it’s slower
than I would like obviously I mean I was hoping it was going to happen
beginning of 2018 right and it’s really a testament to how long certain seismic
shifts can take but I mean we are headed in the right direction we’re seeing
positive movements we’re seeing security tokens come online we’re seeing new
players we’re seeing institutional interest pickup in terms of investing in
security tokens and also providing infrastructure for things like custody
but yeah I know we have not lived up to the hype but but it is coming and I’m
more excited than ever to be in this space I guess it’s never gonna be quick
though right when you’re trying to do it the proper way when things are
securitized and I with icos obviously it was really easy every was just throwing
up stuff left and right there was no regulation it was just Wild West but
trying to do it properly and do it how you’re doing it’s gonna take time right
yeah I mean regulation is no joke especially when you’re dealing in the
world of securities as a number of companies have seen recently
and so really we are now focusing on the long term like what we’re talking about
this blockchain might take let’s call it in years to create right but we’re more
we’re more excited about building something that gets used for the next
century rather than pushing something out the door that works for the next
couple weeks and then breaks right we are building infrastructure that we want
to last for centuries not just for a few years or something to quote allow things
to live up to the hype we’re focused on building this technology that’s
incredibly real that’s going to last hopefully forever yeah I guess the other
thing they obviously the landscape things have obviously been improving in
terms of the market recently because it’s very difficult in 2018 to keep
people interested in something that was just getting battered relentlessly sort
of left and right but we’ve seen obviously over the last few months that
maybe 2019 is you know there are going to be some better times the the
documentary we’re making is basically 2017 2018 and 2019 and there are
obviously three very different years do you think we’re kind of over that kind
of dark period that we’ve had since early 2018 and we can we see some light
at the end of the tunnel yeah personally I think so I mean I remember Bitcoin at
3,000 and everybody saying oh okay it’s going to 1,000 and I was like are you
sure I don’t know I mean it’s kind of down 80% plus right now so I don’t know
if that’s really the right call but yeah I think times are looking up if we’re
talking about kind of the crypto market in general I mean 80% drawdowns 90%
drawdown sands and some of these tokens that we’ve seen I mean for me that’s
that’s never really been what’s exciting but but it does help change people’s
feelings and emotions I mean right before consensus is kind of when things
started to pick back up we saw a Bitcoin go 3,000 4,000 5,000 6,000 and just the
vibe I mean I’m on Twitter all day I’m sure you’re on Twitter all day as well
you can you can just sense oh there’s something different now like people are
fighting less people are arguing less there’s people being excited
there’s kind of a different feeling so in terms of have things picked up since
let’s call it Bitcoin at 3000 I would say yes again for me it’s always about
the long term vision right the long term vision for if we’re looking at Bitcoin
specifically as Bitcoin becomes the global reserve currency of Earth right
and for me that’s a 10 20 30 year game so are we at the end of the bear market
of crypto in 2019 maybe I don’t really care
yeah it’s interesting to see you know a lot of people have disappeared from the
space that weren’t really the ones that we’re kind of meant to be in it very
length of time I think and also a lot of these shit coin projects from you know
2017 and early 2018 what I’m now seeing them die you know here and there in a
kind of true Darwinian fashion so I guess the it’s going to be a case of you
know only the strongest survive yes capitalism is an amazing system
where you cannot be terrible and survive right so eventually eventually the tide
goes out right and Warren Buffett says this what is it when the tide goes out
you can see who’s swimming naked right and so everything seems fine when
Bitcoin goes from $200 to 20,000 red-blue and Bitcoin goes from 20,000 to
3,000 you see who the real players are and so it’s just like any other market
you’re going to see the companies that are building real technology that are
providing real value to customers and to clients those are the ones that are
going to be around forever that’s a good point
well it’s a real pleasure to chat you let’s make sure we catch up again maybe
not as long next time and maybe we’ll bump into each other at one of the
london-based events and can have a catch up per person to person but as always
thank you for coming on board it’s always great to hear what you guys are
up to and stay in touch thank you I really appreciate it so we’re not a featured project today
everybody knows about private keys most people in crypto space spend at least a
small portion if not a massive portion of their life worrying about housing
probably the key is it safe what have I done what I’m going to do about it
what do I do if I lose my private key which is obviously one of the biggest
kind of things to worry about so we have our now from coin safe with us today
who’s going to tell us a little bit about the solution they’ve come up with
so on earth are you there welcome hi hi guys I’m doing great thanks for having
this first of all I’ve obviously read through all the materials you sent
through it but if you could just sort of let us know to somebody who’s not in the
know about coin save what is it that you guys do and what problem you solving
okay so I personally had lost my private keys a couple of years back and I I was
always interested in solving having recovery mechanisms and private key
recovery mechanisms and people use banking services like online banking
services and you have an option to recover your password right and I wanted
to have such a solution in Bitcoin and crypto as well but but the task force
that people should hold their own Keys shouldn’t be that they give their keys
to a wallet like loyal to an exchange like coin base or by enhance and all
these other exchanges so what we have come up with is a solution that allows
you to hold your keys and to distribute some secrets of your keys to say trusted
devices so these can be sale device of your mom device of your dad and so on
and if you lose your keys you send send those devices recovery requests and they
approve your recovery the question you gain back access to your funds so so
this is like say this is my own phone like I have added coin safe and my dad
as a trusted device so if I lose my keys I would go to when you say I lose my
phone or or Eddie or say I’ll uninstall the app I I’ll gain access to a new
phone and I’ll send recovery request to my dad and coin safe and if they
I will be able to recover my funds and and the process works in such a way that
only I am in control of my funds not nor not anyone any of those devices are
actually in control of those funds yeah so as a fail-safe I mean obviously one
of the biggest problems with things like Google Authenticator is a sort of
reference this is what my Lisa had a problem she dropped her phone down the
toilet you know and then got a new phone back real pallava to get her Google
Authenticator codes back for coinbase and by Nance and all the rest of it this
so in this situation if you lose your phone which contains your part of it you
can just retrieve that information back from how many other devices do you
connect to or how does that work yeah yeah so I think you might have heard
about multi cigarettes or multi sega’s you might have heard about 2 by 2 2 by 3
3 by 5 so it’s similar to deduct to that it’s like you you can choose a 2 by 3
multi 6 scheme so in in our system you can choose 2 by 3 recovery scheme
and say you added 3 devices when you were like sort of creating your backup
and if you lose your phone or something like that you need approval from two
devices so that’s how this process works it’s all flexible you can choose say Phi
111 or 6 113 any any scheme like that and yeah and I can talk about how we are
different from when it occurs with and how we are better yeah do you want me to
talk about that I understand multisig and I understand what problems it solves
but also some of the problems that inherently can have as well like you
know cases where multi-sig wallets have locked up and things like that so if you
can explain how it’s different from a sec that week right yeah yes so
basically and multisig what happens is my t 6 stands for multi signatures right
so say you had set up a 2×3 multi say what you are essentially doing is you
are having a you’re signing 3 signers and if two of those signers sign a
transaction it gets it is fine okay it goes through but but the problem with
multisig is that multi-sig you need to have those devices every
time you are doing a transaction so say for day-to-day use it’s not that
convenient right you you don’t or if you are spending crypto I want to spend some
crypto here and there you won’t get three devices right and and then the
second part is multisig is only supported by certain coins like Bitcoin
supports my visa etherium doesn’t support multi sync inherently and many
other coins don’t support multi sec whereas our solution is independent of
this like we can support infinitely many points it’s just because we sort of work
like a technical architecture is very different it’s all off the chain we are
independent of block chains so that’s how we are different and we are more of
like a backup solution so but what you are doing essentially is you are having
this wallet in which you are holding your funds and you are setting a backup
of those of your keys on certain devices and and in case you lose your main
device which which is very highly unlikely it will happen say once a year
or something like that you would use other devices to recover your funds and
you talked about like how people are sort of worried and scared to death
actually sort of protecting the keys on pieces of paper and so on so what our
solution sort of helps is you don’t need to write down your keys anywhere now so
because you are all of these hundred percent sure that you will able to
recover those keys you don’t need to write anything on pieces of on a piece
of paper so you have to go through the extra step of setting up recovery but
but it’s just it takes around two or three minutes and it’s it’s like you
have to just do it once right and you sort of get a good night’s sleep that
that I my friends are like safe for if you are writing on a piece of paper or
so on you you always worry what happens to the piece of paper that you need to
think about where to keep it safe that no one should be able to see it or it
shouldn’t get burnt or something like that yeah so in just walk me through the
process I say I’ve got my Bitcoin wallet and I have my private key currently if I
wanted to use coin safe what is the process for me
okay so basically so currently we have our own wallet right so and what we are
doing is we are partnering up without the wallets that would integrate our key
recovery software but currently assume you have finals on coin six okay so what
what you would do is you would just add some devices okay so I can sort of walk
you through the process but but it’s super simple basically what you’re doing
is you say what I did was I told my mom I told my dad okay that you just install
this app so they install coin safer and it’s super simple for them we have a
trusted device mode two clicks they have to click and I got the username and I
added their username while I was setting up recovery so what I did was I got a I
went to the setting set up recovery module in my coin cipher added those
usernames of my mom and and my and my dad and and it was done so yeah that’s
how simple it is again we are just starting out we have like couple of
hundred uses but we feel that in the future such a such a solution would
become a protocol like all of the wallets and services would use it
especially the ones that care especially for users who care about holding their
own keys so people and I think that’s the direction to go right because if
people are giving the keys the funds to exchanges we are think they do
fractional reserve banking and they can they again we come back to the banking
system in which like they have this mentality that not all the users would
sort of withdraw their funds on the same day so let’s do practice a sort of
banking so yeah that that’s that’s what our aim is it sort of to make it simple
for everyone to hold their keys and have a recovery mechanism because if you
doubt how they either own it that’s the golden rules in it really so I mean it’s
interesting one thing I was reading that new book by Ben Mezrich Bitcoin
billionaires about the Winklevoss twins and their method of doing this was they
took their private keys split them into three yeah actually the algorithm that they
were used think so and that supposedly that they’re using right they haven’t
come out and claim it’s the same that we are using so we are sort of making it
easy for normal people to also do this so what they are doing is they are
taking the mnemonic and wallet seat phrase and they’re spreading it you
applying Shamu secret sharing and putting those secrets in like say
underground bunkers and so on that is a very high security solution but for
normal people you can say that keep those secrets with say people you trust
maybe say your mom or your dad or say coin save as as as one secret so yeah we
are making it simple for normal people right and if people want to find out a
bit more about it where do they go and we’ll post the medium article to our
show notes below because like the one you sent me to read through which is
really interesting and where do people go if they want to find out more so you
can just go to a website get coin save dot app or you can follow us on Twitter
coin safe app and yeah try order wallet and we are in live on Android and iOS
and yeah we are currently in public beta so we don’t recommend you to hold a lot
of funds but you can just try it out and experiment and help us progress we have
a lot of interesting partnerships and yeah coming up in the future as well
right well thanks for coming on board to chat today good luck with everything and
if you want to find out more the details will below in the show notes thanks very
much good morning team sign up here at crypto
for beginners in this video today I’m going to show you how to buy and sell a
crypto currency exchanges and withdraw that crypto from that exchange okay so
let’s get into it okay folks so in this part of the video I’ve got two exchanges
currently open KO coin calm she’s a really excellent exchange I
really recommend that and then the standard coinbase accounts I have opened
here with which I’m going to be sending a theorem from KO coin to coin race
demonstrate sending currency and receiving in another account okay so
getting into it let’s look to sell us need to move this so what you need to do
here is go to trading account okay your coin we need to do is go to your
transfer button here and because when you deposit to KOCO any goes into the
main account all we need to do is go from the main account to trading account
sort of put at any awesome like that and that’s successful I like to exchange if
we are going to change your theme I like your theme here but the main pairs
I’ve got bitcoins here in pairs okay you coin shares and new and we’ve got the
officer on your EOC theorem pair down the bottom here which is available EOS
now has talent there okay and we’re looking to sell so put 10 P us and now
you can keep 100% if you bring ten F either way and we can look at the market
order book on the right here and the current market price is median or mid
price between the bids and asks the buyers in the cells and you’ve got
naught point naught 2 4 9 1 and 2 and by as looking at not going not to force
around 9 6 and I’ll get filled if I put up an order and down here
which I will leave is to demonstrate that so I’m going to put an Aquanaut two
four seven five four so that buyers are looking cheaper prices here and the
sellers are selling Enki us more expensive prices appear I’ll sell that
now I think success because it’s executed there that’s dropped 24 34 I’ve
got available theory I’m not point two four seven five two three five five $58
okay so I’ll go to assets and withdraw and we want to do now is go back into
coin makes and this is like any wallet so if you like to send and receive
you’ll see QR codes public keys that’s less thing will go to receive etherium
I’m Cindy 380hp seem to address I understand brilliant
give them a copy the QR code or copy this wallet address here that says it’s
copied it’s okay you’re going I’m gonna select to withdraw and Lee at the top
key theorem fully understand the risks so the what
address control V paste that in there zero x-48b thirty image that matches
yeah that’s right ending echo two to one three six one three six well put the
maximum amount in ah that’s a good point it’s a shift from trading back to main
account nearly caught myself out there took a click aetherium and transfer trading to me account
nine point two four seven five two three four five being successful now we can go
to the draw probably just left clicking cerium you fully understand you can see
the balance available there paste that address in click max and any remarks and
we’ll click confirm I’ll just bang my 68 trading password in click send code by
e-mail verification code to come through wait for that to come through Emeritus
on 401 I know Google verification so I have two factor authentication setup on
this account and with that I can safely leave my mobile phone to enter it code
like so it changed up seconds and that’s confirmed now there we go it’s in
progress that’s worth drawing so I’ll come back in a bit and show you that in
the coinbase account cool so now that we’re back in coinbase
giving it about two three minutes and the theorem here has arrived received a
theorem from a theorem and karate I’ve spent a little bit on on the new coin
based Visa card since then but yep that successfully came in eleven o’clock
today and you know the send button appears as a bell with the theme balance
there you can send that to whatever address you want my putting me is even
dressed in there or even an email address issues so wish pretty
straightforward and again you can receive more if you wish to using the QR
code or the whites address now this is the same procedure pretty much for every
exchange and wallet something receiving so what you did it a
few times like anything you’ll easily get used to it
that is pretty much that any questions guys please person in the comments feel
free to like share and subscribe thanks for watching it’s buddies blockchain giveaway and
we’ve got a corker this week I don’t know if you’ve had chance to read it yet
but Ben Mezrich new book Bitcoin billionaires about the wincle by amazing
book and we are giving away a copy of it all you have to do is comment below and
tell us why you would be the ultimate Bitcoin billionaire comment below don’t
forget to Like and subscribe and next week we’ll choose the winner with the
usually funniest answer well that’s it this week folks I’m
afraid Lisa’s gonna be back joining me next week I hope and in the meantime
remember like subscribe throw some comments down below tell us
what’s going on we did enjoy the victory or the amount of comments to do with
card on oh and heõs last week all the kind of people calling card I know
vaporware or the card I know people calling a OSIS scam it’s absolutely
hilarious I have noticed a lot of you guys who are commenting about card on Oh
are commenting with cut and paste comments across lots of other sites as
well I won’t name any names but I may do it next week if I see the same guys
posting the same stuff now everyone have a great week out there
hopefully the market is going to be buoyant and remember in the meantime
until I see you next time you’ve been blood chained