Hello everyone this is adam meister the
bitcoinmeister the disrupt meister welcome to you today in Bitcoin today is
September the 3rd 2017 strong hand be in motion be proud of success buy-and-hold
2020 alright people remember check out the links section below this video you
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which is in an hour from now I’m gonna be on the show and most important Ken
Bozak is gonna be on the show he’s got a channel out there and he’s gonna be
talking about the friendly fork the crypto derivative crypto dividend how
can I confuse those terms the crypto dividend known as be gold and that’s
gonna be interesting cuz people have questions about that and and we can see
where how involved ken is with all of that stuff so pen that like button if
you’re here live right now if you’re watching this these shows are just as
good repeat as they are live so let’s jump right into the museum the title of
this show at least I talked about Korea South Korea now let’s ignore all the
drama that’s going on between with North Korea now and talk about the Bitcoin
system in South Korea yesterday on the show I
asked if anyone from South Korea was out there and of course someone contacted me
and this guy sent me some incredible information and I’m gonna read what he
sent me and I hope he can’t appear on the show because he works for business
he doesn’t you know it’s a conflict not a conflict of interest per se to me he
just can’t appear on the show and I can’t say who he is so he’s gonna be
anonymous but he might be giving us reports here and there and so right now
I’m going to read you about South Korea and what is really Lee up there here
about bit thumb or big thumb and how thee that that pumps up the face so
let’s let’s see what is really going on with these pump prices out in South
Korea so let me let me go to his message this we’ll take a look okay and this is
how it starts I know it folks here who invest in the crypto market so I think I
can give you a fairly unbiased and accurate assessment of the Korean crypto
market I sometimes do Bitcoin related lectures for my clients and I talked
about many use cases of Bitcoin obviously you and I and many others see
Bitcoin as a store of value or digital gold your guests explain how Bitcoin is
an insurance in Venezuela and Argentina many African and Southeast Asian
countries have been using Bitcoin for global remittance in Korea you would say
more than 99 percent of the investors use Bitcoin and other alternative
currencies as pure speculation in like equity all right the craze started early
this year when stories of how people made 2 X 3 X returns from Bitcoin and
started to spread without really understanding Bitcoin but sensing the
short term investment opportunity they would go to local crypto currency
exchanges such as big thumb Courbet which was then about us style about
$1000 and historical graphs of Bitcoin Bitcoin looked expensive so they look
into alternative coins was the theorem the theorem looked much cheaper simply
because Bitcoin in terms of absolute units was a hundred times more expensive
so monthly started to flow into aetherium
and the price went up several Falls stories of how people made millions
through aetherium spread like wildfire and many people started to get into the
crypto market after a theorem came Ripple – and many other balls exchanges
started to make ridiculous amounts of money I was told by a friend who works
at an affiliate of coin Mui second biggest exchange after a bit thumb that
the company made as much as 1 million US dollars per day from commissions coin 1
has only about 10 to 20% of market share in Korea imagined the amount of money
bit thumb is making right now the fact is that many of these investors do not
know the difference between Bitcoin and other alt coins they invested in all
coins because one some colleague or friend told them to invest to all coins
felt much cheaper expectation 3 expectations of a Bitcoin like or
aetherium like return in the short-term encounter a person who is invested in
cryptocurrencies here in Korea you would be amazed to find that comparatively
little whole Bitcoin instead most prefer to buy aetherium – and all coins
yet you ask them what is Bitcoin what is it theorem what is – will give
you a blank stare there are even friends or colleagues who
I personally explained what bitcoin is and how Bitcoin is different ended up
investing in just a theory amour – or neo simply because they felt the
coatings would give them a better chance of making big bucks in the short term so
many so most of them is big box in the short-term
very few understand or appreciate the technology behind Bitcoin that’s
proof-of-work distributed ledger open source network effects editor etc and
the potential impact it may have over the long run besides some points of
concern that I’ve outlined above there are a few other issues which need to be
addressed firstly I may be one of the very few Bitcoin holders in Korea that
actually hold my own private keys Koreans who invest in cryptocurrencies
store assets in the exchanges many are not aware of the importance of holding
their own private keys and that there are Hardware wallis such as trade or
leisure etc to assist them many also simply store their bitcoins and etherium
in the exchanges as if it is simply used as a trading a speculative tool bit
thumb was hacked with little damages several months ago but just imagine
amount GOx are BitFenix like hack happening the bit thumb what what is
also troublesome is that scams are starting to appear left and right a
couple of weeks ago a friend of my mother-in-law boasted how she indirectly
invested in Bitcoin and was paid a lofty dividend so a scammer told this friend
that if she invests a certain amount he will pay her a certain dividend with the
invested principle almost guaranteed so that this scammer is exploited in the
fact that maple have little clue to what their cryptocurrencies are and are not
tech savvy enough to use the exchanges and buy / sell Bitcoin many people
outside of Korea then asked me what is wrong with Korea it is not a simple
question to answer but I will say there are primarily primarily three factors
here and those three factors you’re gonna have to wait till next time people
hey Paul just sent me ten bucks hey Adam Oh your audio and Internet currently
seem to be not that great just FYI but cutting out and choppiness
okay thank you Paul I we’ll get rid of my face here that’s a
that’s a good thing to do we just met we missed me reading Thank You pound
that like button for Paul let me get rid of the uh how do I do this
she’s a whiz we don’t see me there we go thanks Paul for the UH
Paul is gonna be on the show actually this week in Bitcoin hopefully on Friday
it sent me okay but definitely not great yeah it’s it’s late night in in Quebec
it just seems like the at late at night it gives it gives on me sometimes this I
don’t know hopefully it’ll be alright on BT cbenni show when I’m on there in a
second yeah thanks pension it’s all right so we’ll see how much of that
Korean thing everybody heard I can obviously read it next time and maybe
I’ll have to read uh let’s get over to Bitcoin difference oh yeah so today is
label tomorrow is Labor Day in the United States and I noticed the Bitcoin
right price is different it is you know it’s it usually is different from
exchange to exchange but it vary quite a bit earlier in the day I wonder I have
no idea what’s going on is there a lack of confidence run in one of the
exchanges what’s what’s happening here someone knows why we had an odd price
TIFF urges just because of the Labor Day holiday just some flunky neskowin on I
mean maybe they sent the Labor Day here in a counter though there is no labor
day so that’s no excuse for why the internet was acting up there just a
second ago all right so found that like button as I
like to say it has a great video that’s out there he talked about how in
mid-september which is just a few weeks away Bitcoin could hit six thousand
dollars if you like that a short-term type of thing then hey there you go but
think long-term people and going back to what I read about Korea I think the
biggest line that was an amazing story wasn’t it
people are buying like crazy they’re storing their they’re storing their
Bitcoin or their crypto currencies all in exchange is their ass
for tremendous disaster they don’t understand the difference between the
coins so this dude some of the information that was fascinating stuff
we’ll talk more about that tomorrow obviously too but if an exchange really
gets hacked there they’re gonna be cruisin for a bruisin no oh my god
disaster all right speaking of disaster I link to a story about an ICO disaster
this guy’s act who was a developer for some ICO he’s not getting paid people
are always saying you’ve got to look at the management teams
well this management team is totally to this guy
total disaster story it’s it’s an interesting read it just shows you that
anyone can start an IC o—- anyone can tell stories and write up a white paper
that could stop so we also had conan telophase is this classic tweet out
there the adjusted Bitcoin price for Bitcoin maximalist and that is ten
thousand seven hundred fifty dollars that is if you take if you take into
account the total market cap for every cryptocurrency out there and divide it
by the number of Bitcoin in existence you get ten thousand seven hundred fifty
so in his mind that’s what the price of Bitcoin should be since all other all
coins they’re nothing to him I always find that to be hilarious and everyone
late he hadn’t done that him and he had not I posted after a while so the price
of Bitcoin whatever it was forty six hundred forty five hundred today it
seemed like the big cash price went up it did go up a little bit faster than
Bitcoin today so your total Bitcoin plus the existing crypto dividend of be cash
price is a 5100 if anyone’s interested in that kind of thing
I mean who knows you know they’re gonna they’re gonna have some fun soon that’s
going to pump up the cash I mean there’s no doubt about it
and yes if you if you’re in the chat and you want my attention you’re the super
chat Lake Paul dick and Paul hopefully will be on the show on Friday hopefully
we’ll have a very interesting cast of characters this Friday for this week in
Bitcoin and a reminder I’m going beyond BTC
Bendis show in 45 minutes it’s gonna be a lot of fun so this is double-header
day here baby all right what else do we have here Oh
at 528 p.m. today there was an interesting tweet sent out by Paris
Hilton yes I would never talk about Paris Hilton but but and this is this is
an ICO disaster also anything happen looking forward to participating in the
new and I’m not gonna even name the token I’m not gonna even give it any
press here this is not an ad Trypticon see Bitcoin eath blockchain okay
obviously someone else wrote that for her but she’s got a lot of followers she
appeals to the masses I clearly no one’s gonna know what her token is but she
said the words Bitcoin she gave the etherium symbol and this is you know in
the long run her little ICO it does well does that I don’t I don’t care what
happens to her I see oh this just happened you know four hours ago now
well at all in some boost the price I doubt it but will it increase the name
recognition of bitcoins of the masses over the long haul if she keeps on
talking about it yeah yeah maybe it will it makes probably good for theory I’m
also and people have to remember I mean but all phone is gonna become the
biggest thing in the world there’s only so many also it always so many coins out
there that can be even mentioned to the masses so I mean Bitcoin in aetherium
are way ahead in that um in that category like it or not especially
Bitcoin all right Betty Lincoln has an awesome tweet out there you can vote on
this poll on a three year time horizon and it’s obviously all of these links
I’m referencing or below so check them out when a three year time horizon no
selling allowed based on today today’s prices what would you rather have a
million dollars in Bitcoin litecoin be cash or a theory and as I went live 50%
of the people said Bitcoin so basically have a strong hand for twenty twenty
people always say no so the question was if you
have a million dollars you’re gonna invest it in something and you can’t
take it out until four years from now which is 2020 what would it be what
would you rather be in then and most people say Bitcoin and again yeah
long-term thinking makes a lot of sense the least popular thing was uh be cash I
believe which also makes a incredible amount of sense
who knows if they don’t even be around like point at aetherium will be around
the twenty twenty though okay uh here’s a quote and I forgot who said this or
even where I got it from don’t copy other people make them copy you remember
that people seriously be an original being original all right Steve Saturday
is coming up in lovely Johannesburg South Africa
this coming Saturday I was invited by the guys who put it on in I obviously
could not make it I thank them I think Lorien is gonna be there Lauren gamma
Ralph is gonna be there and I think Mitchell from Stephen is gonna be the
keynote speaker anyway people I am I do like the steam it’s platform I was at
the steam Saturday last year in Johannesburg it was a blast it was a
blast now remember just because of snakes saying the word steam it doesn’t
mean I’m saying by steam in fact don’t buy steam just earn steam and turn it in
the Bitcoin by using steam it and if your videos have been demonetized on
YouTube post them on steam it it’s a great way to just earn free
cryptocurrency just by sharing your content and I know a lot of people who
watch my show actually understand that concept and they go over to steam it
they sign up and they don’t buy scheme again don’t buy steam pound that like
button i’m adam meister the bitcoinmeister the disrupt meister but
also please check out that link if you are in south africa go to their event it
is free free free i’m the bitcoin meister just rubbish remember subscribe
this channel like this video share this video do check out the notes section
below town that like button paul thanks a lot again i will say hi to you in the
chat i will see you at 10 p.m. on BTC benicia check rabbi