1
00:00:00,200 --> 00:00:05,519
Speaker 1: Now here's a highlight from Coast to coast AM on iHeartRadio.

2
00:00:04,720 --> 00:00:08,119
Speaker 2: With your predictions of twenty twenty five. I guess some

3
00:00:08,160 --> 00:00:11,000
Speaker 2: people asking about bitcoin. So if you can start with bitcoin,

4
00:00:11,200 --> 00:00:13,360
Speaker 2: that would be great. And I know that some of

5
00:00:13,440 --> 00:00:16,439
Speaker 2: the questions have been let me, let me just throw

6
00:00:16,480 --> 00:00:20,040
Speaker 2: one of them out. Is any insurance for that? Do

7
00:00:20,120 --> 00:00:23,720
Speaker 2: you know about that? Because you're you have a digital currency,

8
00:00:24,000 --> 00:00:26,320
Speaker 2: which is cloud coin, but you know about the other

9
00:00:26,400 --> 00:00:29,440
Speaker 2: things that are happening. Uh So, I think that was

10
00:00:29,480 --> 00:00:31,360
Speaker 2: one of the questions, was about safeguards.

11
00:00:31,640 --> 00:00:35,559
Speaker 3: Question to answer because there's major forces for it and

12
00:00:35,640 --> 00:00:38,879
Speaker 3: major forces against it. Like one of the major forces

13
00:00:38,920 --> 00:00:41,000
Speaker 3: for it is that Trump has said that he wants

14
00:00:41,000 --> 00:00:43,919
Speaker 3: to create a national bitclean reserve. Well, he does that,

15
00:00:43,960 --> 00:00:45,320
Speaker 3: he's going to pump in a whole bunch of money

16
00:00:45,320 --> 00:00:49,240
Speaker 3: into that, and it's probably going to increase the price. However,

17
00:00:49,840 --> 00:00:54,240
Speaker 3: there is a usage a bitclean is down and there

18
00:00:54,320 --> 00:00:56,640
Speaker 3: is a backlash against it, I guess you could say,

19
00:00:57,080 --> 00:01:00,440
Speaker 3: And there's a book that just came out very critical

20
00:01:00,440 --> 00:01:03,480
Speaker 3: of it, and of course I've been very critical for

21
00:01:03,520 --> 00:01:07,280
Speaker 3: it for a long time, just because it's becoming centralized.

22
00:01:07,800 --> 00:01:10,840
Speaker 3: One of the biggest problems it has. Well, I just

23
00:01:11,280 --> 00:01:15,360
Speaker 3: give you my own experience. I decided to buy bitcoin

24
00:01:15,560 --> 00:01:18,520
Speaker 3: with a cash app, and I did buy some and

25
00:01:18,560 --> 00:01:21,319
Speaker 3: I went to send it and cash app asked me,

26
00:01:22,040 --> 00:01:25,839
Speaker 3: what are you going to use it for? You know, oh,

27
00:01:26,120 --> 00:01:28,920
Speaker 3: we get to and so I said my mother, and

28
00:01:29,080 --> 00:01:30,959
Speaker 3: it said okay, well give us two days, we'll come back,

29
00:01:31,000 --> 00:01:35,280
Speaker 3: and they basically locked up the account because you know

30
00:01:35,280 --> 00:01:38,880
Speaker 3: it's there. It's called what's called a custodial wallet. They

31
00:01:39,000 --> 00:01:41,640
Speaker 3: have it, and they could shut it down anytime that

32
00:01:41,720 --> 00:01:43,720
Speaker 3: you want. I'm like, wow, this is really not what

33
00:01:43,800 --> 00:01:45,959
Speaker 3: I had in mind when when I came to bitcoin.

34
00:01:46,319 --> 00:01:49,200
Speaker 3: So I went to start my own wallet, which is

35
00:01:49,240 --> 00:01:52,440
Speaker 3: on my You have to download all of this software,

36
00:01:53,040 --> 00:01:54,800
Speaker 3: and it was the same that's going to take me

37
00:01:54,800 --> 00:01:56,880
Speaker 3: two hundred and eighty five days to download it, and

38
00:01:57,160 --> 00:01:59,920
Speaker 3: my hard drive wasn't big enough, so I had to

39
00:02:00,120 --> 00:02:04,720
Speaker 3: change servers to This massive service is going to cost

40
00:02:05,120 --> 00:02:08,040
Speaker 3: like three hundred dollars a month in bandwidth and electricity.

41
00:02:08,200 --> 00:02:12,840
Speaker 3: So bitcoin has lost its decentralization. That makes you have

42
00:02:12,880 --> 00:02:17,320
Speaker 3: to have custodial wallets. Nobody can have their own full

43
00:02:17,400 --> 00:02:19,440
Speaker 3: wallets anymore. It's too expensive.

44
00:02:20,240 --> 00:02:22,320
Speaker 2: Oh no, and you know the thing that you know.

45
00:02:22,320 --> 00:02:24,160
Speaker 2: I was crypto Connie for a while. That's how we

46
00:02:24,200 --> 00:02:27,799
Speaker 2: met years back. One of the things that a lot

47
00:02:27,800 --> 00:02:31,120
Speaker 2: of people think that bitcoin in the cryptocurrency world and

48
00:02:31,919 --> 00:02:34,280
Speaker 2: the people in it don't know. I mean they know

49
00:02:34,400 --> 00:02:35,960
Speaker 2: this the people that are in it, but the people

50
00:02:36,000 --> 00:02:37,959
Speaker 2: outside of it, like wanting to learn more about it,

51
00:02:38,000 --> 00:02:41,840
Speaker 2: which is a bigger audience. They don't realize it's not private.

52
00:02:42,440 --> 00:02:46,280
Speaker 2: That is the difference with yours than than the cryptocurrency.

53
00:02:46,320 --> 00:02:49,520
Speaker 2: Yours is private, and that would be wrong for them

54
00:02:49,560 --> 00:02:51,840
Speaker 2: to say, who are you going to send it to? Right,

55
00:02:51,960 --> 00:02:55,000
Speaker 2: I mean, wouldn't that be That's not right. I like

56
00:02:55,080 --> 00:02:57,520
Speaker 2: the privacy. I don't want people don't need to know

57
00:02:57,560 --> 00:02:58,799
Speaker 2: where my money's going.

58
00:02:58,639 --> 00:03:06,080
Speaker 3: Right, absolutely not. And so bitcoin uses something called obscurity

59
00:03:06,400 --> 00:03:09,800
Speaker 3: to hide who's doing what. And according to the Nationalist

60
00:03:09,880 --> 00:03:15,119
Speaker 3: to the standards, obscurity is absolutely terrible way of trying

61
00:03:15,120 --> 00:03:18,640
Speaker 3: to get security, and in fact security is system an illusion.

62
00:03:19,120 --> 00:03:23,040
Speaker 3: I know, people who have AI machines, they just go

63
00:03:23,160 --> 00:03:25,520
Speaker 3: through the entire blockchain because it's public hoe they can

64
00:03:25,520 --> 00:03:27,840
Speaker 3: see it and they can figure out who's doing what,

65
00:03:28,080 --> 00:03:32,359
Speaker 3: and they can make all of the connections that they

66
00:03:32,360 --> 00:03:35,080
Speaker 3: want so that they know every way and what they're trade.

67
00:03:35,480 --> 00:03:38,119
Speaker 3: So it's a complete illusion on all of these cryptocurrens

68
00:03:38,200 --> 00:03:40,320
Speaker 3: us except for I'm going to say Manaro, there might

69
00:03:40,320 --> 00:03:44,400
Speaker 3: be a few other ones are really not secure. If

70
00:03:44,440 --> 00:03:47,560
Speaker 3: the government knows how to hack Manaro, then that one's

71
00:03:47,600 --> 00:03:52,280
Speaker 3: not security either. So my mind doesn't require user accounts,

72
00:03:52,320 --> 00:03:53,920
Speaker 3: doesn't You don't have to log in, you don't have

73
00:03:54,000 --> 00:03:56,800
Speaker 3: to have a password, there's no records that are being

74
00:03:57,080 --> 00:04:01,640
Speaker 3: there's no transactions at all, and the transactions take place

75
00:04:01,840 --> 00:04:06,800
Speaker 3: outside of the system. You don't have any transmissions which

76
00:04:08,000 --> 00:04:10,800
Speaker 3: might cause you to break the law because the system

77
00:04:10,920 --> 00:04:13,560
Speaker 3: just authenticates. It just looks at your mind says whether

78
00:04:13,600 --> 00:04:14,520
Speaker 3: it's counterfeit or not.

79
00:04:15,560 --> 00:04:19,360
Speaker 2: Much more so, tell me about twenty twenty five and

80
00:04:19,400 --> 00:04:21,560
Speaker 2: what you think is going to happen with bitcoining, with

81
00:04:21,760 --> 00:04:25,839
Speaker 2: maybe what you're doing and money in general, and the

82
00:04:25,880 --> 00:04:28,159
Speaker 2: new administration, how that's going to work out with all this,

83
00:04:28,520 --> 00:04:31,960
Speaker 2: If it's going to be better or worse, it's.

84
00:04:31,839 --> 00:04:34,799
Speaker 3: Going to be so much better with Trump because he's

85
00:04:34,839 --> 00:04:37,280
Speaker 3: going to replace all of the folks that are in

86
00:04:37,320 --> 00:04:41,680
Speaker 3: there now. They're absolutely anti crypto, Like we've got the

87
00:04:41,720 --> 00:04:49,240
Speaker 3: security and Exchange Commission, the SEC. The director there, Gary Ginfler,

88
00:04:50,080 --> 00:04:52,840
Speaker 3: he does not like crypto and he's been suing the

89
00:04:52,920 --> 00:04:57,960
Speaker 3: hell out of crypto companies like mine, and it's just

90
00:04:58,040 --> 00:05:01,240
Speaker 3: put this big, dark shadow on everything. Nobody wants to

91
00:05:01,240 --> 00:05:05,880
Speaker 3: do anything. And so that the reign of care will

92
00:05:05,920 --> 00:05:08,839
Speaker 3: be gone, he's being replaced with a libertarian. In fact,

93
00:05:09,279 --> 00:05:14,440
Speaker 3: the Trump administrator administration is creating this a I'm sorry,

94
00:05:14,720 --> 00:05:17,960
Speaker 3: I call a crypto zar, and that person's going to

95
00:05:18,040 --> 00:05:20,000
Speaker 3: have the authority over the crypto and it's going to

96
00:05:20,040 --> 00:05:24,240
Speaker 3: take that authority away from every government department is trying

97
00:05:24,240 --> 00:05:26,760
Speaker 3: to take over. So that's going to be a big help.

98
00:05:27,520 --> 00:05:30,520
Speaker 3: We've got all these de banking efforts being done by

99
00:05:30,520 --> 00:05:35,200
Speaker 3: the current FDIC, those chairmen, you know, the people that

100
00:05:35,279 --> 00:05:38,480
Speaker 3: run that are going to be gone, and that's been

101
00:05:38,480 --> 00:05:44,160
Speaker 3: a big problem. I had an investor who owned this business.

102
00:05:44,200 --> 00:05:48,600
Speaker 3: He's makes millions of dollars every year and he's had

103
00:05:48,640 --> 00:05:51,480
Speaker 3: this bank account for thirty years, and when they found

104
00:05:51,480 --> 00:05:53,960
Speaker 3: out that he was doing some stuff with crypto, they

105
00:05:54,920 --> 00:05:59,800
Speaker 3: seized his bank account and locked him out. And they

106
00:06:00,600 --> 00:06:03,880
Speaker 3: block them out on PayPal, on Western Union, on all

107
00:06:03,920 --> 00:06:08,880
Speaker 3: these different platforms, and so he's being debanked, and he's

108
00:06:08,920 --> 00:06:13,640
Speaker 3: being debanked by the banking system that we have. We

109
00:06:13,680 --> 00:06:16,280
Speaker 3: have right now, it's a reserve and fdi C that

110
00:06:16,360 --> 00:06:18,680
Speaker 3: are threatening this banks that they do anything with crypto,

111
00:06:18,720 --> 00:06:21,440
Speaker 3: that you have any customers do it anything with crypto,

112
00:06:21,480 --> 00:06:24,920
Speaker 3: that they're going to lose their license and that's very

113
00:06:24,920 --> 00:06:26,080
Speaker 3: stray thing for banks.

114
00:06:26,640 --> 00:06:28,599
Speaker 2: I'm going to change the subject a little bit because

115
00:06:28,640 --> 00:06:32,920
Speaker 2: I was reading your LinkedIn profile doing investigating you a

116
00:06:32,960 --> 00:06:35,480
Speaker 2: little bit more, Sean and learn a little bit more

117
00:06:35,960 --> 00:06:39,640
Speaker 2: of your updated stuff. But your goal this year was

118
00:06:39,680 --> 00:06:42,280
Speaker 2: to create a new let me see if I get

119
00:06:42,279 --> 00:06:45,000
Speaker 2: this rights out of memory. It was a nonprofit organization.

120
00:06:45,800 --> 00:06:47,960
Speaker 2: I think it was called the Perfect Money Foundation.

121
00:06:48,880 --> 00:06:49,520
Speaker 3: Yes, that's right.

122
00:06:49,600 --> 00:06:50,799
Speaker 2: Well what's that about.

123
00:06:52,560 --> 00:06:56,520
Speaker 3: Well, we have there's a lot of competing theories about

124
00:06:57,200 --> 00:07:01,000
Speaker 3: monetary thoughts, and there's something there's a new one called

125
00:07:01,560 --> 00:07:06,159
Speaker 3: the so called modern monetary theory, and this is something

126
00:07:06,160 --> 00:07:10,160
Speaker 3: that the Biden administration embraced. And the idea is that

127
00:07:10,440 --> 00:07:14,840
Speaker 3: you don't have to worry about deficits. You can print

128
00:07:14,880 --> 00:07:18,760
Speaker 3: up money and all you want, and if something goes

129
00:07:18,760 --> 00:07:21,480
Speaker 3: wrong and you get inflation, then all you have to

130
00:07:21,480 --> 00:07:25,680
Speaker 3: do is raise taxes. And that idea is very wrong,

131
00:07:26,280 --> 00:07:30,800
Speaker 3: and I haven't seen any other theories that to come

132
00:07:30,840 --> 00:07:34,360
Speaker 3: against it or alternatives. And so that's where I created

133
00:07:34,800 --> 00:07:40,200
Speaker 3: the Perfect Money Foundation, and it has a whole philosophy

134
00:07:40,640 --> 00:07:43,440
Speaker 3: about what we should do and how we should treat money.

135
00:07:43,760 --> 00:07:45,840
Speaker 3: And one of them is the Fourth Amendment, or actually

136
00:07:46,360 --> 00:07:49,400
Speaker 3: it's an amendment to the Constitution that would create a

137
00:07:49,400 --> 00:07:53,200
Speaker 3: fourth branch of governments and this branch would be independent

138
00:07:53,320 --> 00:07:55,720
Speaker 3: of all other branches, and it would just be in

139
00:07:55,800 --> 00:07:58,720
Speaker 3: charge of administrating money, and it wouldn't print up any

140
00:07:58,720 --> 00:08:02,360
Speaker 3: new money. It would use and techniques like splitting if

141
00:08:02,400 --> 00:08:04,920
Speaker 3: it ever do need more money, which everybody would get

142
00:08:04,920 --> 00:08:10,320
Speaker 3: more money. It would just keep the monetary supply available

143
00:08:10,960 --> 00:08:20,960
Speaker 3: and with integrities they can counterfeit and with its complete privacy.

144
00:08:21,840 --> 00:08:26,920
Speaker 3: So that's the idea, and we'll see if if that

145
00:08:27,000 --> 00:08:30,360
Speaker 3: happens around that catches on. I hope it will. Well.

146
00:08:30,360 --> 00:08:34,000
Speaker 2: I like the privacy part, I mean, because I mean

147
00:08:34,200 --> 00:08:36,800
Speaker 2: we've all always kind of had that before. You would

148
00:08:36,800 --> 00:08:38,719
Speaker 2: have your money in your pocket, you know, and you

149
00:08:38,760 --> 00:08:43,120
Speaker 2: would spend it wherever. You would use cash. It's kind

150
00:08:43,120 --> 00:08:45,360
Speaker 2: of rare to use cash. I actually sold one of

151
00:08:45,360 --> 00:08:49,760
Speaker 2: my chocolate bars to someone and they gave me cash

152
00:08:49,760 --> 00:08:51,440
Speaker 2: and I was like, what do I do with this?

153
00:08:51,520 --> 00:08:53,480
Speaker 2: I got to put that in and somehow record it

154
00:08:53,520 --> 00:08:55,240
Speaker 2: with the business.

155
00:08:55,400 --> 00:08:58,960
Speaker 3: Is absolutely wonderful because there's no intermediate they can shut

156
00:08:58,960 --> 00:09:00,600
Speaker 3: it down, like if we go to user ATM card

157
00:09:00,640 --> 00:09:02,400
Speaker 3: and it says out of money even though you've got

158
00:09:02,400 --> 00:09:06,880
Speaker 3: thousands of dollars in there, because it's ridiculous. So having

159
00:09:07,320 --> 00:09:10,720
Speaker 3: with the age of identity theft where the banks don't

160
00:09:10,720 --> 00:09:13,600
Speaker 3: know who's got the card and who's spending it, cash

161
00:09:13,720 --> 00:09:17,240
Speaker 3: is absolutely wonderful. Pushing the driving seat. Nobody's been able

162
00:09:17,240 --> 00:09:20,240
Speaker 3: to figure out how to create a digital cash. I have,

163
00:09:20,920 --> 00:09:24,800
Speaker 3: and I think it's really worth taking a look at.

164
00:09:24,920 --> 00:09:29,560
Speaker 2: And so who needs Who is the person that needs

165
00:09:29,600 --> 00:09:34,680
Speaker 2: to see your digital currency, your cloud coin? Who is

166
00:09:34,679 --> 00:09:37,319
Speaker 2: it that needs to see that that can make the difference?

167
00:09:37,400 --> 00:09:40,640
Speaker 2: Is this something like you take to Elon Trump, Biden.

168
00:09:40,800 --> 00:09:45,960
Speaker 2: Anybody who sees this, they can go, let's do this.

169
00:09:47,000 --> 00:09:52,120
Speaker 3: Well, there's some problems with cloud coin, and the problem

170
00:09:52,240 --> 00:09:56,440
Speaker 3: is is that the government is absolutely frightened of it.

171
00:09:57,080 --> 00:10:00,200
Speaker 3: And so when we went to apply to because the

172
00:10:00,240 --> 00:10:03,680
Speaker 3: stable token of the State of Wyoming, they want to

173
00:10:03,679 --> 00:10:06,240
Speaker 3: be able to survey on people. They want to be

174
00:10:06,280 --> 00:10:09,679
Speaker 3: able to detect They want to have you know, analytic

175
00:10:09,760 --> 00:10:12,960
Speaker 3: engines AI plugged into the system so they can detect

176
00:10:13,040 --> 00:10:16,320
Speaker 3: any kind of well, you know, they say that they

177
00:10:16,320 --> 00:10:20,959
Speaker 3: want to be able to detect money laundering, that sort

178
00:10:20,960 --> 00:10:23,439
Speaker 3: of thing, the financial crimes, and they want to be

179
00:10:23,480 --> 00:10:28,080
Speaker 3: able to freeze people's cash. That they want to that's.

180
00:10:27,960 --> 00:10:29,800
Speaker 2: The whole reason and why you made it too, so

181
00:10:29,840 --> 00:10:32,120
Speaker 2: they won't do that kind of stuff, that's.

182
00:10:32,040 --> 00:10:35,080
Speaker 3: Right, And they're afraid that the federal government's going to

183
00:10:35,080 --> 00:10:39,480
Speaker 3: come after them, and so they want to have these

184
00:10:39,520 --> 00:10:42,199
Speaker 3: back doors that the federal government can come in and

185
00:10:43,360 --> 00:10:45,360
Speaker 3: you know, regulat or do what they ever they're doing.

186
00:10:45,880 --> 00:10:48,160
Speaker 3: So you have to have a braveness. You have to

187
00:10:48,240 --> 00:10:52,320
Speaker 3: have the ability to say, we want of a currency.

188
00:10:52,800 --> 00:10:56,720
Speaker 3: It is going to be absolutely private and secure. And

189
00:10:57,240 --> 00:10:59,840
Speaker 3: the President of the United States can't go in there,

190
00:11:00,080 --> 00:11:03,520
Speaker 3: that the judges can't go in there, the legislative branch

191
00:11:03,600 --> 00:11:06,160
Speaker 3: can't go in there. It's got to be its own thing.

192
00:11:06,880 --> 00:11:09,000
Speaker 3: And that is something that's going to take a lot

193
00:11:09,000 --> 00:11:14,480
Speaker 3: of bravery. And we've got to understand that money is

194
00:11:14,559 --> 00:11:17,440
Speaker 3: the foundation of civilization. If they don't have it, they

195
00:11:17,440 --> 00:11:20,640
Speaker 3: don't have civilization, but everything's can fall apart, and we

196
00:11:20,720 --> 00:11:24,560
Speaker 3: need it to be private. Private is not just to

197
00:11:24,600 --> 00:11:27,679
Speaker 3: protect people that are looking at chornography or something. The

198
00:11:27,880 --> 00:11:33,640
Speaker 3: privacy keeps our keeps ball Rock or these major tech

199
00:11:33,720 --> 00:11:36,840
Speaker 3: giants from stealing all of our secrets, knowing what we're doing,

200
00:11:36,920 --> 00:11:40,520
Speaker 3: undercutting us, manipulating us, knowing what our weak spots are

201
00:11:40,920 --> 00:11:45,680
Speaker 3: getting our money. Basically, it's absolutely essential.

202
00:11:46,640 --> 00:11:49,160
Speaker 2: Is there something out there right now that they are

203
00:11:49,200 --> 00:11:52,720
Speaker 2: looking at? Are they even looking for something totally like

204
00:11:52,920 --> 00:11:55,560
Speaker 2: this is what you have and they just haven't seen it,

205
00:11:55,679 --> 00:11:58,880
Speaker 2: or they've seen something else similar. Is any of that happening?

206
00:12:00,800 --> 00:12:04,160
Speaker 3: You know, I've been quite disappointing actually, and you know,

207
00:12:04,400 --> 00:12:06,360
Speaker 3: just trying to get on exchange. You know that they

208
00:12:06,360 --> 00:12:10,120
Speaker 3: don't take privacy coins and oh that's not blockchain. They

209
00:12:10,120 --> 00:12:12,120
Speaker 3: all love the blockchain. That's the only thing that there is.

210
00:12:13,240 --> 00:12:15,480
Speaker 2: It's not private at all. That's not private at all.

211
00:12:15,520 --> 00:12:17,280
Speaker 2: Everybody else, every move you make.

212
00:12:18,240 --> 00:12:22,800
Speaker 3: It's not private. It's slow and it's and the major

213
00:12:22,840 --> 00:12:27,760
Speaker 3: problem is is that everybody is scared of losing their keys.

214
00:12:28,280 --> 00:12:33,960
Speaker 3: And it's not just it's the people like me about

215
00:12:34,120 --> 00:12:37,080
Speaker 3: losing my keys. And so you need a way to

216
00:12:37,320 --> 00:12:40,160
Speaker 3: mitigate loss and theft, so that I can take my

217
00:12:40,280 --> 00:12:42,240
Speaker 3: money and I can put it in different places. I

218
00:12:42,280 --> 00:12:44,760
Speaker 3: can hide it someone at the blanket, some in the

219
00:12:44,840 --> 00:12:49,840
Speaker 3: USB drive or whatever and not get bobbed all at once,

220
00:12:49,880 --> 00:12:51,120
Speaker 3: and if I want to put it in a bank,

221
00:12:51,520 --> 00:12:53,320
Speaker 3: be able to put it in the bank too. You

222
00:12:53,320 --> 00:12:54,319
Speaker 3: know where the bank will take.

223
00:12:56,679 --> 00:12:59,559
Speaker 1: Listen to more Coast to Coast a m every weeknight

224
00:12:59,679 --> 00:13:02,199
Speaker 1: at one a m. Eastern and go to Coast to

225
00:13:02,280 --> 00:13:04,040
Speaker 1: coastam dot com for more