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Speaker 1: The Coin Bureau Podcast is a production of I Heart Radio.

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Speaker 1: When Russia invaded Ukraine back in February, they've started uploading

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Speaker 1: loads of stories, loads of video, photos, other media and stuff.

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Speaker 1: They've started uploading it to ore. We've so as so

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Speaker 1: as you've got this indisputable record of what happens, and

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Speaker 1: that is going to be so so valuable. Welcome everyone

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Speaker 1: to the Coin Bureau Podcast. My name is Guy and

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Speaker 1: your name Mike Mooch. Welcome, And in this I want

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Speaker 1: to do another two parter because I want to get

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Speaker 1: there's quite a lot of quite a lot of detail

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Speaker 1: to cover here. So basically I want to look at

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Speaker 1: the different categories of cryptocurrency because there are over eighteen

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Speaker 1: thousand cryptocurrencies in existence. We've been sort of quite a

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Speaker 1: lot of the last few episodes just talking about two

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Speaker 1: of them. Now, I guess people might be listening to

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Speaker 1: this and thinking, Okay, they're not going to spend sort

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Speaker 1: of north of two episodes on every single one of them,

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Speaker 1: are they know? So if we categorize them then we

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Speaker 1: can just go, okay, call this is one section four thousand,

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Speaker 1: This is one section A thousand five D, This is

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Speaker 1: one section mine coin Yeah, basically that was that was

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Speaker 1: part of the thinking. That was part of the thinking

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Speaker 1: because yeah, there are so many projects we can't possibly

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Speaker 1: cover them all. We are going to cover individual projects

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Speaker 1: in future episodes because some of them are fascinating, Some

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Speaker 1: of them are really fascinating, some of them are very

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Speaker 1: key parts of the whole crypto ecosystem. Some of them

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Speaker 1: really do merit their own episode. Others maybe, you know,

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Speaker 1: we might be able to do an episode on a

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Speaker 1: particular group of them or whatever, but I think really

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Speaker 1: the only ones that sort of merits, you know, two

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Speaker 1: plus part episodes a Bitcoin and Ethereum, which we've already covered,

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Speaker 1: and yeah, I mean we can't do a three part

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Speaker 1: episod sowd on doge Bonk, for instance, which when I

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Speaker 1: checked was number six, which is quite high for something

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Speaker 1: just called doge bank. Anyhow, I don't think we're gonna

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Speaker 1: spend any more time on that. So yeah, basically, cryptocurrencies

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Speaker 1: fall into a number of different categories, and I think

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Speaker 1: it's really useful to explore what these categories are because

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Speaker 1: I think that's that can aid our understanding of what's

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Speaker 1: what particular cryptocurrencies can do or are designed to do.

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Speaker 1: What their actual place in the whole crypto verse is

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Speaker 1: if you like. So, we're gonna split this episode, as

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Speaker 1: I said, into two parts. Firstly, today I want to

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Speaker 1: cover the different types of cryptocurrency coins, and then next

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Speaker 1: week we'll cover the different types of cryptocurrency tokens. Now

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Speaker 1: do you remember we have discussed this a couple So like, so, uh,

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Speaker 1: bitcoin is a coin, and then ethereum is a coin.

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Speaker 1: Ethereum is a coin, but then something like doge coin

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Speaker 1: is off ethereum dog coin is actually a coin itself.

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Speaker 1: But you're you're on the right track. Yeah. Basically, a

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Speaker 1: coin is a cryptocurrency that lives on its own blockchain, yes,

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Speaker 1: and then tokens are ones off off another blockchain. Yes,

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Speaker 1: So tokens are cryptocurrencies that are built hosted on on

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Speaker 1: another blockchain. That's that's the sort of key difference. That's

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Speaker 1: the that's the easiest way to think about it. And yeah,

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Speaker 1: coins are generally a lot. It's it's much more of

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Speaker 1: an undertaking to build a cryptocurrency coin because you have

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Speaker 1: to it has to have its own blockchain, so it's

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Speaker 1: a completely sort of standalone project, whereas a crypto token,

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Speaker 1: as we found out in the episodes on the Ethereum

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Speaker 1: can be can be built on another blockchain like Ethereum

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Speaker 1: for instance, fairly easily. And as I said, you only

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Speaker 1: need you only really need a bit of coding knowledge

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Speaker 1: and and you can bread coin brett coin. Brett coin

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Speaker 1: is a coin done by a comedian, New York comedian's token. Sorry, yeah, correct,

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Speaker 1: but this is yeah, this is this is kind of

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Speaker 1: this is what can be quite confusing, and I want

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Speaker 1: to sort of try and and and clear this up

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Speaker 1: for people because yeah, so so often it will be

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Speaker 1: referred to as something coin, pooh coin, mnch coin, whatever

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Speaker 1: it is, and it's important to to to understand that distinction.

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Speaker 1: Just because it says coin in the title doesn't necessarily

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Speaker 1: mean it is. Just because it says fat free doesn't

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Speaker 1: mean it's good for you. Yeah, very Yeah, I think

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Speaker 1: that's I think that explains it beautifully. So yeah, so yeah,

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Speaker 1: brett Coin is is obviously a token built for for

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Speaker 1: a particular comedian. Yeah. I think basically you're essentially investing

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Speaker 1: in him and how well he does. And I saw

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Speaker 1: on a podcast he seemed like a funny guy. Okay,

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Speaker 1: I loved him. Cheeky, cheeky, ton. Yeah, okay, well, good

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Speaker 1: luck with that. Let's see, I'll look out for breakfa

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Speaker 1: not financially. Not financially my goodness here welder. So yeah, okay.

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Speaker 1: So we're going to cover coins in this episode, and

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Speaker 1: then we're going to cover tokens next week. Now, this

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Speaker 1: list of categories, it isn't exhaustive because kind of new

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Speaker 1: types of cryptocurrency token especially are emerging as as the

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Speaker 1: sector develops. So we're not going to cover all of

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Speaker 1: them in these two episodes because otherwise we will be

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Speaker 1: getting a little bit exhaustive. But these are enough to

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Speaker 1: be getting started with, and especially the ones that we're

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Speaker 1: going to cover today, especially the early ones, are sort

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Speaker 1: of very most of them are quite sort of large buckets,

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Speaker 1: if you like, so quite a few cryptocurrency coins fall

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Speaker 1: into the categories that we're going to look at today,

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Speaker 1: and towards the end of the episode, we're going to

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Speaker 1: look at some coins that actually a sort of generally

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Speaker 1: there are more tokens than coins in that particular category,

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Speaker 1: and that will kind of bleed into the next episode. So,

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Speaker 1: believe it or not, quite a lot of thought has

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Speaker 1: gone into structuring this. It doesn't it isn't just a

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Speaker 1: sort of you know, I wouldn't expect anything else from

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Speaker 1: you if it was the reverse. What you mean, you've

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Speaker 1: you've thought this through. If it was me, we'd just

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Speaker 1: be kind of winging it and I would be a

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Speaker 1: lot of like on air research being done. Yeah, let

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Speaker 1: me just let me just have a look on Google. Yeah, yeah,

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Speaker 1: I was right, Yeah course, yeah. Okay, So with that,

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Speaker 1: with that introduction out of the way, let us get

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Speaker 1: into part one. So as just said, we've looked at

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Speaker 1: the difference between a coin and so can so let's

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Speaker 1: look at the first category of coins, which is store

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Speaker 1: of value coins. Is this like um coin? Yeah yeah,

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Speaker 1: well no I was I was actually gonna say, um um,

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Speaker 1: you know the dollar one. Oh no, So that's that's

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Speaker 1: an interesting one. Yeah. That that's not to be confused

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Speaker 1: with stable coins. Stable coins and actually, weirdly here's and

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Speaker 1: you know there here's another sort of instance where um

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Speaker 1: that the name can be a bit misleading. Stable coins

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Speaker 1: are tokens. Oh yeah again, yeah, I suppose because there

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Speaker 1: is no blockchain really for it, it's kind of offered

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Speaker 1: offered something. Well, they run on they run on other blocks. Ye, yeah,

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Speaker 1: so they're they're representations of of of assets. But I

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Speaker 1: thought because it was a kind of a store of value,

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Speaker 1: because a lot of people use them to buy other

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Speaker 1: coins than But yeah, I know what you mean. I suppose, Yeah,

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Speaker 1: I suppose stable coins can be said in a way

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Speaker 1: to be a to be a store of value in

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Speaker 1: that you you know, you can hold, you can you

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Speaker 1: can insulate yourself from the natural volatility of crypto. By yeah,

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Speaker 1: it's I think they fall into a slightly different category.

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Speaker 1: I mean that they fall into their own category. And

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Speaker 1: I think also as well, they fall into the category

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Speaker 1: a little bit that we're going to look at next.

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Speaker 1: But I take your point. But anyhow, cryptos these these

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Speaker 1: store of value coins, and really I'm talking pretty much

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Speaker 1: about Bitcoin only. A big Bitcoin is pretty much the

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Speaker 1: only one we need ourselves with. Yeah, the gold standard

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Speaker 1: cryptos are these store of value coins are designed to

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Speaker 1: hold or increase their purchasing power over time. Now this

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Speaker 1: is an important that that that term purchasing power is

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Speaker 1: an important phrase because it's different from price. And this

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Speaker 1: is what a lot of people forget when you know

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Speaker 1: it's it's sometimes you mentioned bitcoin is a store of

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Speaker 1: values to some people, and they go wealth how can

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Speaker 1: it possibly be a store of value when it's prices

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Speaker 1: so it is so volatile and certainly in the short

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Speaker 1: term that's that's a fair point. But purchasing powers, I said,

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Speaker 1: it's different from price regular feat currencies, as we've talked

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Speaker 1: about before, they lose around two to three pc of

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Speaker 1: their purchasing power every year because governments keep printing more

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Speaker 1: of them. Yeah, and that's probably going to go up

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Speaker 1: from two. Yeah, I mean inflation at the moment and yeah,

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Speaker 1: this is I mean, this is what this is the

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Speaker 1: result inflation um is just running hot at the moment.

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Speaker 1: And this is well, we've talked about this in the

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Speaker 1: previous episode when we talked about the fact that the

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Speaker 1: crypto markets are taking such a hammering and the global

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Speaker 1: economy as a whole because interest rates are going up

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Speaker 1: in an attempt to try and tame this runaway inflation.

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Speaker 1: So yeah, when when inflation happens, when when the money

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Speaker 1: supply is inflated, your money doesn't go as as far,

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Speaker 1: it doesn't buy as much, so that the pounds in

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Speaker 1: our pockets today won't buy as much as they would

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Speaker 1: have bought a year ago, or ten years ago or

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Speaker 1: twenty years ago. Um. So they're purchasing power has decreased. Now,

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Speaker 1: As I said, the principal store of value coin, the

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Speaker 1: principal coin cryptocurrency coin to preserve purchasing power is of

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Speaker 1: course Bitcoin. And the reason it does this so well

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Speaker 1: and will do so well over time, is because it

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Speaker 1: was designed with this twenty one million coin limit, so

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Speaker 1: it's purchasing power can't be inflated away. We can't just

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Speaker 1: create more and more and more of the finite amount. Yeah,

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Speaker 1: and this is why bitcoin or BTC, you know, the

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Speaker 1: coin that lives on the Bitcoin blockchain. This is why

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Speaker 1: it's sometimes referred to as digital gold. So yeah, this

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Speaker 1: is this is what purchasing about. This is what store

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Speaker 1: of value is all about. And that's what that phrase

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Speaker 1: means when you when you hear it referred to um.

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Speaker 1: So yeah, Bitcoin is the main store of value coin.

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Speaker 1: It's purpose very much, very much. The reason that Satoshi

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Speaker 1: designed it was was for a form of money that

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Speaker 1: couldn't just you couldn't just print more and more and

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Speaker 1: more of it as you wanted. It retained its purchasing power,

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Speaker 1: and that is why so many people are hoddling, so

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Speaker 1: many people are stacking SATs at the moment because they

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Speaker 1: know that the pounds, the dollars, the euros, the yen's,

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Speaker 1: whatever it is in their pot, it's is devaluing over time.

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Speaker 1: It won't be as worth as much in a few

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Speaker 1: years time, whereas bitcoin, we're pretty confident will be now.

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Speaker 1: As a bit of a side note, I should also

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Speaker 1: say that bitcoin was also designed to act as a

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Speaker 1: payment network too, and it does kind of serve that function,

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Speaker 1: even not well with the lightning stuff apparently. Yeah, yeah, yeah,

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Speaker 1: but like it's more for big things where you can

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Speaker 1: wait ten fifteen minutes, Yeah, exactly. It doesn't really it

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Speaker 1: doesn't really function that well as a payment network because

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Speaker 1: of those factors that we looked at in when we

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Speaker 1: talked about bitcoin specifically, you know the fact that it

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Speaker 1: has this quite small block size, fairly fairly long transaction

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Speaker 1: times only around seven transactions per second, which is far

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Speaker 1: too slow for a regular payments network. Um. And yeah,

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Speaker 1: so for this reason it, I mean, people do transact

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Speaker 1: with it, but it's generally functioning more and more these

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Speaker 1: days as a store of value. People don't. People tend

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Speaker 1: to huddle more than actually more than actually spend um.

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Speaker 1: And as you said, if the lightning network takes off,

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Speaker 1: then we could see Bitcoin used more for payments. But

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Speaker 1: until that point, it is more of a store of value.

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Speaker 1: And I don't know, I think there's a kind of

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Speaker 1: there's a there's a sort of split in the bitcoin community.

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Speaker 1: I think some people are very very keen for it too,

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Speaker 1: for it to become this payment's network, for it to

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Speaker 1: completely replace fiat currencies, and other people see it more,

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Speaker 1: you know, see it more its potential as a way

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Speaker 1: to protect your protect your purchasing, protect the value of

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Speaker 1: your money into the future. And as I said, there

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Speaker 1: aren't really any other notable cryptocurrencies in this niche. But

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Speaker 1: I mean it's a pretty bitcoin is you know, there

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Speaker 1: ain't room for There ain't room for Bitcoin and anything

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Speaker 1: else in this niche. So that is the first category

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Speaker 1: of cryptocurrency coin. Let's now move on to the next,

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Speaker 1: which is payment coins. Now, this one is a bit

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Speaker 1: of a spinoff from the whole store of value sector,

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Speaker 1: and there are a few coins in this Some of

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Speaker 1: the coins that I've put in this category could be

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Speaker 1: a little controversial. Is this is this one of these

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Speaker 1: weird classification sort of like a platypus duck. Is it

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Speaker 1: a mammal. Is it a you know, lays eggs. Is

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Speaker 1: it a mammal or is it a bird? Yeah? Yeah,

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Speaker 1: well the heck yeah yeah, you could perhaps have that

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Speaker 1: that that could be that could the anomally some of

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Speaker 1: these maybe, yeah, we're talking certainly some people will disagree

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Speaker 1: with me. Well, I think the two main ones in

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Speaker 1: this category are light coin and bitcoin Cash. So LTC

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Speaker 1: and BC is light coin off ethereum. No, light coin

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Speaker 1: is was copy light coins code was copied from bitcoins,

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Speaker 1: so it's it's designed very much like bitcoin. But you

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Speaker 1: remember when we talked about coin a few weeks ago, now,

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Speaker 1: we did talk about light coin because it's from the earliest,

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Speaker 1: earliest talk coins. It was designed as a sort of

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Speaker 1: lighter Bitcoin, so it's light coin blocks have produced more

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Speaker 1: frequently and they generally it generally works better for payment.

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Speaker 1: Is it's still top ten light Coin? No, it's still

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Speaker 1: I think it's sort of around the top twenty. It

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Speaker 1: might just be sort of below, you know, definitely top thirty,

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Speaker 1: I think. So it's still around and it's still I

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Speaker 1: mean again, when is XRP. Yeah, we're going to come

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Speaker 1: to XRP in a minute. Um, But yeah, the thing

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Speaker 1: about light coin is that it does kind of function

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Speaker 1: as a payment coin. And again I've talked about this before,

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Speaker 1: but when you see companies sort of adopting crypto so often,

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Speaker 1: you know, as a form of payment, um and PayPal

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Speaker 1: is a good example. Um you so often you know,

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Speaker 1: it's usually bitcoin ethereum and then more often than not

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Speaker 1: light coin and bitcoin cash. And of course we rememb

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Speaker 1: the Bitcoin cash. This was a this was the hard

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Speaker 1: for four bitcoin, the whole four cup exactly, and when

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Speaker 1: they were having this huge argument over block size. And

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Speaker 1: bitcoin cash kind of as the name suggests, is designed

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Speaker 1: to function a bit more like cash, so it has

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Speaker 1: bigger blocks, faster transaction times. So those two are i

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Speaker 1: would say, the main payment coins, the main coins in

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Speaker 1: this particular niche And as you flagged up before, and

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Speaker 1: this is something that I noted Dan, don't get these

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Speaker 1: confused with stable coins, which we will talk about in

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Speaker 1: the next episode. Yeah, So, as I said, both of these,

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Speaker 1: both like cooin and bitcoin are a Bitcoin cash are

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Speaker 1: are based very much on Bitcoin's original code, but with

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Speaker 1: some adjustments to make it to make them basically faster

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Speaker 1: and more sort of payment friendly if you like. Another

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Speaker 1: one that I'd like to include in this niche is

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Speaker 1: Dash again, which we talk the halk coin one and

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Speaker 1: Dash well, as the name suggests, it was designed to

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Speaker 1: act like digital cash. So I think Dash is still

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Speaker 1: actually quite popular for crypto payments in certain parts of

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Speaker 1: the world. I think Dash is quite not to be

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Speaker 1: confused with, not to be confused with your favorite diggi

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Speaker 1: cash like that. I wonder if we can get you

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Speaker 1: sponsored by diggi cash, and I'll write to David Chum.

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Speaker 1: So Dash also kind of falls into the privacy coin

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Speaker 1: niche a little bit, a little bit not like Monero,

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Speaker 1: not like Monero, which we'll talk about in a minute. Now,

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Speaker 1: there are two other coins that I've put into this bracket,

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Speaker 1: and these ones I think could be a little controversial.

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Speaker 1: I think people could disagree with me in this um

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Speaker 1: and if you do, then please suck eggs. Yeah, okay,

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Speaker 1: if you do, don't you dare now? If you do, yeah,

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Speaker 1: please let me know. Um. So I would say that

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Speaker 1: two other coins in this niche would be Ripples x

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Speaker 1: r P and Stellar's xlm ah. Now, both Ripple and Stella,

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Speaker 1: and remember these are these are the projects themselves, not

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Speaker 1: the coins, but both Ripple and Stella are designed to

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Speaker 1: be payment networks, so they make it easy for individuals

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Speaker 1: and mostly really institutions. Enjoyed your video on on these

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Speaker 1: guys at davof. Oh yeah, yeah, yeah, that was yeah,

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Speaker 1: that was that was interesting, wasn't it? That was it?

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Speaker 1: And and actually like Ripple, companies like Ripple, you know,

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Speaker 1: they are sort of very corporate focus, so they do

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Speaker 1: have very good connections with with the with the elite,

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Speaker 1: with the global elite, with the WEFU. I think it's

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Speaker 1: I think it makes the I think it makes the

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Speaker 1: World Economic Forums sound less scary if you call it

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Speaker 1: the WEF. I think if you called it the w EF,

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Speaker 1: it would sound a bit, you know, it sound a

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Speaker 1: bit like the weffer um um. So yeah, Ripple and

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Speaker 1: Stella they're they're kind of corporate focus really, but they

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Speaker 1: basically make it easy for institutions to transfer value across borders,

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Speaker 1: so you can bypass things like foreign exchange costs and

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Speaker 1: things like that. So there, their networks are payment networks. Now,

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Speaker 1: I would argue that this means x r P and XLM,

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Speaker 1: which are the native coins of these networks, function as

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Speaker 1: a form of payment coin, albeit in a slightly different

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Speaker 1: way to the likes of bitcoin, bitcoin cash, et cetera.

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Speaker 1: Because I would say that they facilitate the exchange of

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Speaker 1: value between two parties, and that to me is payment

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Speaker 1: is a payment. Yeah. Now, plenty of people would disagreement

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Speaker 1: in this, because this is crypto after all, isn't it.

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Speaker 1: They would say, I think one of their arguments would

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Speaker 1: be that x r P and XLM are kind of

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Speaker 1: bridge currencies. They just facilitate payments, they're not payment coins

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Speaker 1: per se, and they would definitely have a point in

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Speaker 1: that respect. Um, and there's also the argument that Ripple

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Speaker 1: and Stellar are kind of actually rivals to the likes

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Speaker 1: of Ethereum in a way their networks but rather but

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Speaker 1: whereas Ethereum is designed for smart contracts, Ripple and Steller

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Speaker 1: are designed for payments, so they're not sort of payment

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Speaker 1: cryptocurrencies per se. Now, again, I think this argument, I

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Speaker 1: think there's there's a definitely that argument definitely holds water.

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Speaker 1: But I think for the sake of categorization, I'm going

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Speaker 1: to put XRP and XLM in the payment cryptocurrencies bracket

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Speaker 1: because I think they can fulfill that function, albeit in

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Speaker 1: a slightly more nuanced way to the likes of, you know,

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Speaker 1: to the likes of Dash and bitcoin cash. Alright, on

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Speaker 1: that note, let's take a quick break and we're back

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Speaker 1: with part two. Welcome back. Part two is smart contract cryptocurrencies. Now,

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Speaker 1: this is a pretty big niche and it includes a

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Speaker 1: lot of the biggest cryptocurrencies out there. And we're familiar

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Speaker 1: with smart contract blockchains because we have, after all, had

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Speaker 1: four episodes about Ethereum. Now, so you're not familiar with

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Speaker 1: those who haven't been paying attention. So we know that

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Speaker 1: these actors platforms on which to build decentralized applications or debts.

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Speaker 1: So the native coins of these platforms are used to

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Speaker 1: pay network fees, i e. To pay minors or more

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Speaker 1: commonly now validators for processing transactions on the network, so

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Speaker 1: that there are kind of, I guess, a kind of

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Speaker 1: internal currency for the particular smart contract network we're talking about.

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Speaker 1: And this is there's a fairly long list of coins

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Speaker 1: represented here and some of you know, there's some of

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Speaker 1: the most well known, some of the biggest ones out there.

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Speaker 1: So we've got the likes of Ethereums obviously that's the

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Speaker 1: most notable. There's Cardano's aida, there's Salana's sold as trans trx,

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Speaker 1: a's avalanches of acts as algorithms, algo near protocols, near

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Speaker 1: l ron Z gold Hedera's hbar, phantoms, FtM, Harmony's one, etcetera, etcetera, etcetera.

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Speaker 1: There are loads of smart contract cryptocurrencies, and especially they're

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Speaker 1: very well represented in the top one hundred cryptos by

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Speaker 1: market cap as well. These are some of the biggest

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Speaker 1: crypto projects out there. Now, I'm also going to add

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Speaker 1: another little subset to this category, and that in order

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Speaker 1: to accommodate two other big projects, and these are Polka

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Speaker 1: Dot and Cosmos. And you'll see cos Cosmos is now

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Speaker 1: called Cosmos Hub, but everyone calls it Cosmos and their

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Speaker 1: their native coins, which are Dot and Atom respectively. Now,

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Speaker 1: Polka Dot and Cosmos are similar to the smart contract

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Speaker 1: platforms we mentioned above, but they work in a slightly

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Speaker 1: different way. And I'm not going to get too deep

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Speaker 1: into that here, but they're essentially they're essentially interruptability platforms

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Speaker 1: that say that again, interoperability interruptabilit of them. They're they're

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Speaker 1: into rock probability platforms that connect other blockchains together so

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Speaker 1: you don't you don't kind of build on top of them,

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Speaker 1: you build blockchains that then sort of plug into them,

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Speaker 1: and hence that hence the name sort of Cosmos hub.

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Speaker 1: It kind of acts as a you know, as a

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Speaker 1: central sort of hub the spine. Yeah, like that, you know,

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Speaker 1: the hub of a wheel. And then think of all

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Speaker 1: these other blockchains, Yeah, exactly, And they're sometimes referred to

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Speaker 1: rather than layer ones, which what which what we call

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Speaker 1: all those other ones are likes of Etherum, Cardaro, Solana,

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Speaker 1: et cetera. Those are layer ones, Polka Dot, and Cosmos.

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Speaker 1: A lot of people think of them more as layer

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Speaker 1: zeros that you then build can build layer ones on

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Speaker 1: the it's the framework. Yeah, yeah, so you can, I

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Speaker 1: think for the sake of for the sake of categorization,

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Speaker 1: you can include dot and Atom in the smart contract

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Speaker 1: coin bucket. But it is important to draw that. It's

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Speaker 1: just to be clear. Have you have you categorized these

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Speaker 1: or is there some sort of general consensus around all

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Speaker 1: of these That's a good question. There is, there is

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Speaker 1: a lot of general consensus. One of the reasons I

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Speaker 1: wanted to do this episode is because I feel that

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Speaker 1: it can be a little fuzzy sometimes. So I think

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Speaker 1: it's great because it's it's it's sometimes you hear a

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Speaker 1: lot of these coins or tokens and you have no

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Speaker 1: idea what they're about. Yeah, and you need to just

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Speaker 1: be able to go, okay, cool, I vaguely know that

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Speaker 1: is something and this is what the the the project

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Speaker 1: is about. Yeah, and this is great to sort of

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Speaker 1: go okay, cool, I now know these are the main

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Speaker 1: types of things. There's some with gray areas, but it's good.

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Speaker 1: It's it's really it really enables you to sort of

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Speaker 1: just have a bigger macro view of of of a

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Speaker 1: lot of the brands out there. Yeah. I think I

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Speaker 1: think if you're if you're looking at a coin or

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Speaker 1: a token for the first time, probably the best thing

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Speaker 1: that you can do is to first of all, I think, okay,

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Speaker 1: what category, what does it do? Yeah, what does it do?

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Speaker 1: What is its use case? Because once you've once you've

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Speaker 1: established that, then you know, you know certain things done

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Speaker 1: a bit of research, you've done a little bit of research,

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Speaker 1: and then you can ape into your heart's desiren. No

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Speaker 1: you can't, um, but yeah, I think it's it's the

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Speaker 1: first step to understanding what this thing is that you

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Speaker 1: that you're looking at, or you know possibly can and

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Speaker 1: naturally there's going to be maybe some more categories that

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Speaker 1: come up. Yeah, and yeah, if you look on if

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Speaker 1: you go onto something like coin Gecko, there there is

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Speaker 1: a category's tab. You get quite a long list, and

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Speaker 1: it's a little bit confusing. I think often they're categorized

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Speaker 1: via the via the ecosystem, often by the layer one

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Speaker 1: that they run on, and it's it's not it's it

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Speaker 1: can be quite techy. Yeah, yeah, and I felt that

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Speaker 1: this would be useful just to try and find, if possible,

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Speaker 1: some quite big categories that we can fit a lot into.

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Speaker 1: And then obviously there's there's going to be nuanced between

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Speaker 1: every single project. Okay, so the next category of cryptocurrency

426
00:25:02,640 --> 00:25:06,560
Speaker 1: coins is privacy coins. And again we've touched on these before,

427
00:25:07,280 --> 00:25:11,359
Speaker 1: and especially Minero, which is obviously Montneral, which is obviously

428
00:25:11,400 --> 00:25:14,080
Speaker 1: the big one. Now, as if it wasn't obvious, these

429
00:25:14,200 --> 00:25:18,920
Speaker 1: are coins which preserve user privacy, that is, that is

430
00:25:18,960 --> 00:25:22,280
Speaker 1: what they are designed to do. So remember that most

431
00:25:22,400 --> 00:25:27,239
Speaker 1: cryptocurrency transactions aren't as private as many people think. This

432
00:25:27,320 --> 00:25:30,120
Speaker 1: is a common misconception again something we've talked about before.

433
00:25:30,440 --> 00:25:34,320
Speaker 1: Most of them can be easily tracked using a blockchain explorer.

434
00:25:34,760 --> 00:25:38,239
Speaker 1: So for instance, if I send some bitcoin to you,

435
00:25:38,280 --> 00:25:41,560
Speaker 1: if I send you some BTC, then that transaction will

436
00:25:41,560 --> 00:25:45,000
Speaker 1: show up on chain. Now, I might be sending that

437
00:25:45,160 --> 00:25:47,680
Speaker 1: from a wallet that doesn't have you know, that doesn't

438
00:25:47,720 --> 00:25:50,440
Speaker 1: have my name attached to it, so you can't necessarily

439
00:25:50,480 --> 00:25:53,439
Speaker 1: see who is sending what to whom, but you can track.

440
00:25:53,840 --> 00:25:55,960
Speaker 1: You can watch those you know, you can watch those

441
00:25:55,960 --> 00:25:59,720
Speaker 1: transactions happen. And even if you don't have your real

442
00:25:59,720 --> 00:26:02,200
Speaker 1: idea ty attached to your wallet, it can be still

443
00:26:02,560 --> 00:26:04,600
Speaker 1: linked to you with a bit of detective works. So

444
00:26:04,680 --> 00:26:07,640
Speaker 1: if you've used the service, for instance, like a cryptocurrency

445
00:26:07,640 --> 00:26:11,720
Speaker 1: exchange that has some of your personal details, you can

446
00:26:11,760 --> 00:26:15,640
Speaker 1: be traced when that wallet interacts with that service. Now,

447
00:26:15,680 --> 00:26:18,480
Speaker 1: this is how a lot of a lot of ne'er

448
00:26:18,520 --> 00:26:21,480
Speaker 1: do wells, if you like, have being caught out. You'll

449
00:26:21,520 --> 00:26:24,760
Speaker 1: get someone demanding some random you know, a ransomware attack

450
00:26:24,840 --> 00:26:28,960
Speaker 1: or something like that, demanding payment in bitcoin. So the

451
00:26:29,000 --> 00:26:32,360
Speaker 1: bitcoin is is sent to their bitcoin address. They then

452
00:26:32,400 --> 00:26:34,400
Speaker 1: got some bitcoin sitting there. They want to they want

453
00:26:34,400 --> 00:26:38,080
Speaker 1: to cash out into interfere it say, into dollars. Perhaps

454
00:26:38,800 --> 00:26:41,000
Speaker 1: they get caught when they're doing that because they have

455
00:26:41,119 --> 00:26:44,720
Speaker 1: to interact with an exchange which you requires a y

456
00:26:44,760 --> 00:26:47,040
Speaker 1: C you know, know your customer or all that sort

457
00:26:47,080 --> 00:26:49,800
Speaker 1: of stuff. So they're often they're often caught out like that.

458
00:26:50,200 --> 00:26:54,680
Speaker 1: And what you often get is, especially in the last

459
00:26:54,720 --> 00:26:57,479
Speaker 1: few months, we've had a lot of hacks in defy

460
00:26:57,560 --> 00:27:00,080
Speaker 1: and decentralized finance, had a lot of defied protocol is

461
00:27:00,080 --> 00:27:03,920
Speaker 1: getting hacked and in some cases like hundreds of millions

462
00:27:03,920 --> 00:27:07,720
Speaker 1: of dollars worth of crypto being stolen, and what happens

463
00:27:07,800 --> 00:27:11,480
Speaker 1: is that crypto then kind of sits there in these

464
00:27:11,520 --> 00:27:14,280
Speaker 1: wallets that everyone can see in the attack as wallet,

465
00:27:14,880 --> 00:27:18,000
Speaker 1: and the attacker is sort of like, right, I've now

466
00:27:18,080 --> 00:27:20,159
Speaker 1: got all this crypto. The problem is it can all

467
00:27:20,200 --> 00:27:22,600
Speaker 1: be traced. So if I try and spect even a

468
00:27:23,000 --> 00:27:28,480
Speaker 1: paint squib goes off in an armored vehicle hoist, you've

469
00:27:28,520 --> 00:27:32,560
Speaker 1: got this neon pink cash that you can't really it's

470
00:27:32,560 --> 00:27:36,879
Speaker 1: still sort of but everyone's like, I don't want to

471
00:27:36,920 --> 00:27:41,159
Speaker 1: take this. Yeah, that's exactly right, and yeah, so you

472
00:27:41,280 --> 00:27:43,680
Speaker 1: have these kind of you have this kind of tainted

473
00:27:44,119 --> 00:27:47,080
Speaker 1: crypto and it becomes very very difficult to get and

474
00:27:47,119 --> 00:27:50,600
Speaker 1: of course impossible for them to cash out. So obviously

475
00:27:51,640 --> 00:27:56,159
Speaker 1: privacy coins have sprung up to well, not to fulfill

476
00:27:56,200 --> 00:27:59,600
Speaker 1: the purpose of making of making bad people bad people's

477
00:27:59,600 --> 00:28:04,000
Speaker 1: lives here, but privacy coins, you know, were invented so

478
00:28:04,040 --> 00:28:07,600
Speaker 1: as people could transact privately. And as again, as I've

479
00:28:07,600 --> 00:28:10,480
Speaker 1: said before, like being able to transact privately, I think

480
00:28:10,600 --> 00:28:13,200
Speaker 1: is really really important because it's not a case of

481
00:28:13,400 --> 00:28:15,440
Speaker 1: a world if you've done nothing wrong, you've got nothing

482
00:28:15,480 --> 00:28:19,320
Speaker 1: to hide. It's you know, your transactions, what you spend

483
00:28:19,400 --> 00:28:22,880
Speaker 1: your money on, personal thing exactly. Yeah, it's a very

484
00:28:23,240 --> 00:28:27,680
Speaker 1: it's a very personal, very revealing thing. And I wouldn't

485
00:28:27,720 --> 00:28:31,600
Speaker 1: want anyone looking at my bank statements, for instance, even

486
00:28:31,640 --> 00:28:34,400
Speaker 1: though I've got nothing to hide. You know, my bank

487
00:28:34,440 --> 00:28:37,280
Speaker 1: statements tell a story about me, which I think should

488
00:28:37,320 --> 00:28:40,200
Speaker 1: be private, you know, even from the grounds of traceability,

489
00:28:40,280 --> 00:28:42,280
Speaker 1: I suppose, you know, if you can see that I

490
00:28:42,280 --> 00:28:46,239
Speaker 1: bought my lunch in pretormj on this particular day, you know,

491
00:28:46,480 --> 00:28:51,400
Speaker 1: it's it's sensitive information. So these privacy coins you donate

492
00:28:51,400 --> 00:28:54,520
Speaker 1: your money too, is not really anyone's business. Yeah, you

493
00:28:54,520 --> 00:28:56,960
Speaker 1: know what I mean. Yeah, so I want to donate

494
00:28:57,000 --> 00:28:59,640
Speaker 1: to this charity or this political party or this drug dealer.

495
00:29:00,160 --> 00:29:06,040
Speaker 1: You know, some people may take issue with Yeah, Um, yes,

496
00:29:06,160 --> 00:29:08,800
Speaker 1: so privacy coins are you know, they're a big deal

497
00:29:09,200 --> 00:29:14,480
Speaker 1: and they use various different techniques, various very very clever

498
00:29:14,520 --> 00:29:16,640
Speaker 1: and advanced tech. One of the mains used for it.

499
00:29:16,640 --> 00:29:19,800
Speaker 1: I mean, obviously there is the big one which we

500
00:29:19,880 --> 00:29:21,840
Speaker 1: kind of touched on, which is sex workers and stuff

501
00:29:21,880 --> 00:29:26,760
Speaker 1: like that. Um what what, Well, maybe this is just

502
00:29:26,800 --> 00:29:30,400
Speaker 1: an indication of my mind, but I can't do it.

503
00:29:30,400 --> 00:29:32,440
Speaker 1: It's what are the others? I mean, it may be

504
00:29:32,600 --> 00:29:36,680
Speaker 1: done into political parties or charities or or I think

505
00:29:36,720 --> 00:29:40,600
Speaker 1: that's a big one. Yeah, I think it's really I

506
00:29:40,640 --> 00:29:44,080
Speaker 1: think a privacy coin. Using a privacy coin has you know,

507
00:29:44,120 --> 00:29:47,160
Speaker 1: has as many different possible uses as there are different

508
00:29:47,240 --> 00:29:49,920
Speaker 1: types of transaction. Let's face it, some people will be

509
00:29:50,000 --> 00:29:53,880
Speaker 1: using it for illegal stuff. Some people may use it

510
00:29:53,920 --> 00:29:57,120
Speaker 1: to buy I don't know, medical marijuana online or something

511
00:29:57,160 --> 00:30:01,560
Speaker 1: like that, or non medical ma juana online or there

512
00:30:01,600 --> 00:30:04,240
Speaker 1: are a lot of different uses for privacy coins. But

513
00:30:04,280 --> 00:30:07,200
Speaker 1: I think, you know, it's it's it's unique to the user.

514
00:30:07,560 --> 00:30:09,280
Speaker 1: You may just you may just want you may just

515
00:30:09,320 --> 00:30:12,160
Speaker 1: feel that you don't want someone to have oversight of

516
00:30:12,240 --> 00:30:16,480
Speaker 1: your financial transactions. And I think that's entirely fair enough.

517
00:30:17,440 --> 00:30:20,920
Speaker 1: So yeah, as we said, Manero's xmr is is the

518
00:30:20,920 --> 00:30:23,440
Speaker 1: biggest privacy coined by market cap. It's also the most

519
00:30:23,440 --> 00:30:26,200
Speaker 1: well known. It's got some seriously impressive tech which I

520
00:30:26,240 --> 00:30:28,280
Speaker 1: won't even try and go into here. I think we'll

521
00:30:28,320 --> 00:30:31,800
Speaker 1: do a standalone episode on privacy coins and Manara at

522
00:30:31,800 --> 00:30:36,400
Speaker 1: some point. Um. There are other sorts of privacy privacy

523
00:30:36,760 --> 00:30:40,920
Speaker 1: focus cryptocurrencies that work in slightly different ways, and most

524
00:30:41,000 --> 00:30:44,880
Speaker 1: of them aren't technically coins, So again this is something

525
00:30:44,920 --> 00:30:48,920
Speaker 1: we'll look at when we cover privacy privacy focused projects

526
00:30:48,920 --> 00:30:52,080
Speaker 1: if you like, in more detail. Um. And it's also

527
00:30:52,400 --> 00:30:54,880
Speaker 1: again as I mentioned earlier, worth pointing out that Dash

528
00:30:55,040 --> 00:30:57,920
Speaker 1: also has some privacy features. That was one of its

529
00:30:57,920 --> 00:30:59,880
Speaker 1: that was one of its attractions for a lot of people.

530
00:31:00,200 --> 00:31:04,440
Speaker 1: And actually, more recently, light Coin implemented some privacy features too.

531
00:31:05,440 --> 00:31:09,840
Speaker 1: It had an upgrade called Nimble Wimble Harry Potter thing,

532
00:31:10,560 --> 00:31:14,840
Speaker 1: And so they can both light Coin and Dash can

533
00:31:14,880 --> 00:31:17,160
Speaker 1: be said to have a foot in the privacy bucket.

534
00:31:17,200 --> 00:31:19,400
Speaker 1: But these privacy features that they got are very much

535
00:31:19,400 --> 00:31:23,080
Speaker 1: opt in. So there are things you can do to

536
00:31:23,200 --> 00:31:27,160
Speaker 1: make your transactions more private with Dash and LTC, but

537
00:31:27,200 --> 00:31:31,440
Speaker 1: they're not true privacy coin the equivalent of hiding the

538
00:31:31,520 --> 00:31:38,520
Speaker 1: keypad one. Yeah, that's the that's that's that. That's what

539
00:31:38,600 --> 00:31:45,840
Speaker 1: has been made past the brown envelope. They're brown envelope words. Yeah. Okay,

540
00:31:45,960 --> 00:31:48,800
Speaker 1: let's take one quick break and then we'll look at

541
00:31:48,880 --> 00:32:05,840
Speaker 1: a couple of more categories. We are back for the

542
00:32:05,840 --> 00:32:08,120
Speaker 1: third and final part of this episode, and the first

543
00:32:08,200 --> 00:32:11,040
Speaker 1: category we are going to talk about here is storage

544
00:32:11,320 --> 00:32:17,840
Speaker 1: coins m H storage coins. Storage coins. Now, this is

545
00:32:17,840 --> 00:32:20,880
Speaker 1: a this is a this is a category. Well, I

546
00:32:20,880 --> 00:32:24,400
Speaker 1: haven't made it up, but I've sort of put it

547
00:32:24,440 --> 00:32:27,040
Speaker 1: together for the purposes of this episode because I think

548
00:32:27,160 --> 00:32:30,000
Speaker 1: what we're the territory we're kind of straying into now

549
00:32:30,200 --> 00:32:33,960
Speaker 1: is very much like you know, tokens are are going

550
00:32:34,000 --> 00:32:36,280
Speaker 1: to be sort of more represented in the categories that

551
00:32:36,280 --> 00:32:39,320
Speaker 1: we're going to start talking about. But there are still

552
00:32:40,040 --> 00:32:43,400
Speaker 1: a few interesting projects that are coins, and a few

553
00:32:43,400 --> 00:32:48,640
Speaker 1: of them fall into this bracket basically storage cryptocurrencies, and

554
00:32:48,680 --> 00:32:51,120
Speaker 1: this is a sector which is growing in popularity, and

555
00:32:51,160 --> 00:32:55,080
Speaker 1: these are projects but basically aimed to store data and

556
00:32:55,520 --> 00:33:01,680
Speaker 1: centralized matter. Like I was really struggling of, We've done

557
00:33:01,720 --> 00:33:05,120
Speaker 1: the values, so it's not that storage storage like you

558
00:33:05,200 --> 00:33:09,640
Speaker 1: pay for storage like a shipping container. Shipping, contain a coin,

559
00:33:10,000 --> 00:33:12,480
Speaker 1: contain a coin. No, no, this is yeah, this is

560
00:33:12,560 --> 00:33:17,480
Speaker 1: data storage um in decentralized data storage. And this data

561
00:33:17,560 --> 00:33:20,240
Speaker 1: can obviously be anything. It can be people's personal files.

562
00:33:20,480 --> 00:33:23,160
Speaker 1: It can be company data, which is obviously quite sensitive.

563
00:33:23,200 --> 00:33:27,360
Speaker 1: I mean I suppose like how valuable data is. Yeah,

564
00:33:27,440 --> 00:33:30,360
Speaker 1: this makes complete sense. Yeah, it can also be This

565
00:33:30,480 --> 00:33:34,320
Speaker 1: data can also be blockchain records themselves. Because you'll remember

566
00:33:34,320 --> 00:33:40,800
Speaker 1: from some inception. Wait a minute, you're storing blockchain on

567
00:33:40,840 --> 00:33:47,880
Speaker 1: a blockchain, Christopher Nolan, take note. Yeah, so blockchain. When

568
00:33:47,880 --> 00:33:50,560
Speaker 1: we talked about blockchain, you'll remember, as each each block

569
00:33:50,680 --> 00:33:53,800
Speaker 1: contains transactional data, and as the blockchain goes along, more

570
00:33:53,840 --> 00:33:57,000
Speaker 1: and more data is stored and is created and then

571
00:33:57,040 --> 00:34:02,360
Speaker 1: stored and for validate on a blockchain network, you know,

572
00:34:02,400 --> 00:34:05,160
Speaker 1: for for those participating in the network, they have to

573
00:34:05,320 --> 00:34:08,160
Speaker 1: store a copy of this record so as they can

574
00:34:08,200 --> 00:34:11,520
Speaker 1: refer back to it to make sure transactions are valid. Now,

575
00:34:12,120 --> 00:34:15,400
Speaker 1: that can over time amount to quite a lot of data.

576
00:34:16,040 --> 00:34:19,440
Speaker 1: So at some some blockchain projects which will we'll talk

577
00:34:19,480 --> 00:34:21,960
Speaker 1: about in the indust or so, actually you know, need

578
00:34:22,000 --> 00:34:24,399
Speaker 1: to need quite a lot of data storage. Anyhow, we'll

579
00:34:24,400 --> 00:34:27,000
Speaker 1: come back to that. So decentralized data storage is a

580
00:34:27,080 --> 00:34:31,120
Speaker 1: really useful resource because we know that centralized data is

581
00:34:31,239 --> 00:34:36,359
Speaker 1: very vulnerable, UM, you know, manipulation, theft, corruption, whatever it is.

582
00:34:36,760 --> 00:34:40,120
Speaker 1: Now here's an interesting example which I found, which I

583
00:34:40,160 --> 00:34:42,560
Speaker 1: remember hearing about and then I rediscovered when I was

584
00:34:42,600 --> 00:34:48,200
Speaker 1: researching a particular storage project. UM In early the US

585
00:34:48,400 --> 00:34:52,759
Speaker 1: National Archives were discovered altering They were basically caught in

586
00:34:52,800 --> 00:34:58,040
Speaker 1: the act of altering an image from seventeen and what

587
00:34:58,080 --> 00:35:00,760
Speaker 1: they were doing that some photos had been aken of

588
00:35:00,840 --> 00:35:04,120
Speaker 1: the Women's March that took place. I think it was Washington,

589
00:35:04,200 --> 00:35:08,800
Speaker 1: d c. In in seen and what they were doing

590
00:35:09,080 --> 00:35:11,359
Speaker 1: that there were there were plaqucards on this women's march.

591
00:35:11,440 --> 00:35:14,040
Speaker 1: It was a kind of it was inspired by Trump

592
00:35:14,520 --> 00:35:17,319
Speaker 1: getting into the White House UM and a lot of

593
00:35:17,360 --> 00:35:20,640
Speaker 1: these a lot of these marchers were holding up placards

594
00:35:20,680 --> 00:35:22,880
Speaker 1: which were saying sort of things about Trump, Trump, is

595
00:35:23,120 --> 00:35:26,399
Speaker 1: this trumpet to that down with Trump, etcetera. I didn't

596
00:35:26,400 --> 00:35:28,600
Speaker 1: think it was being done from a political angle, but

597
00:35:28,640 --> 00:35:31,359
Speaker 1: basically staff from the U s National Archives were found

598
00:35:31,360 --> 00:35:34,160
Speaker 1: to be blurring out parts of the photos that the

599
00:35:34,200 --> 00:35:36,560
Speaker 1: placard parts of the photos so it would say Dan

600
00:35:36,640 --> 00:35:39,600
Speaker 1: with and then the name Trump was blurred out, and

601
00:35:39,640 --> 00:35:42,120
Speaker 1: I think they were doing this. I think their justification

602
00:35:42,320 --> 00:35:44,759
Speaker 1: was that they didn't want it to be political. You know,

603
00:35:44,840 --> 00:35:48,279
Speaker 1: it wasn't. It was a photo from this time. They

604
00:35:48,280 --> 00:35:52,200
Speaker 1: didn't want the you know, because because I guess, well, yeah, exactly,

605
00:35:52,760 --> 00:35:54,400
Speaker 1: this is and this is the point that was that

606
00:35:54,520 --> 00:35:57,200
Speaker 1: was that was made in opposition to it, and which

607
00:35:57,200 --> 00:35:59,640
Speaker 1: they later conceded. It's like, yeah, but this is a

608
00:35:59,719 --> 00:36:02,720
Speaker 1: history oracle moment. It doesn't matter, Okay. You know, Trump

609
00:36:02,800 --> 00:36:05,520
Speaker 1: is a very divisive figure, and I guess they were

610
00:36:05,560 --> 00:36:08,760
Speaker 1: maybe trying, you know, to sort of steer clear of

611
00:36:08,880 --> 00:36:10,799
Speaker 1: that kind of side of it. But yeah, I mean,

612
00:36:11,160 --> 00:36:13,719
Speaker 1: this is what happened, and that that's what those plaquards said.

613
00:36:13,760 --> 00:36:15,759
Speaker 1: So you can't you know, you can't alter them. You

614
00:36:15,800 --> 00:36:19,320
Speaker 1: can't alter history. But this alteration of history is something

615
00:36:19,360 --> 00:36:22,160
Speaker 1: that's been done a lot. And actually the Soviets they

616
00:36:21,960 --> 00:36:24,439
Speaker 1: say that the winners, right history, don't they? Yeah, history

617
00:36:24,480 --> 00:36:27,480
Speaker 1: is when, yeah, history is written by the victors. But

618
00:36:27,600 --> 00:36:31,040
Speaker 1: the Soviets in in were particularly good at this. The

619
00:36:31,080 --> 00:36:35,080
Speaker 1: Russians they used to alter images a lot to remove

620
00:36:35,120 --> 00:36:37,840
Speaker 1: people who had fallen from favor. So if you know,

621
00:36:37,920 --> 00:36:42,080
Speaker 1: if so and so had had displeased Stalin and basically

622
00:36:42,560 --> 00:36:45,640
Speaker 1: met his end in a seller. I think North Korea

623
00:36:45,680 --> 00:36:48,200
Speaker 1: do that as well, don't Yeah, I think yeah, almost certainly.

624
00:36:48,239 --> 00:36:51,239
Speaker 1: And you know, they there are these there are there

625
00:36:51,239 --> 00:36:54,759
Speaker 1: are these photos in existence whereby they you know, they

626
00:36:54,800 --> 00:36:57,480
Speaker 1: basically just take someone out of it. You know, you'll

627
00:36:57,480 --> 00:37:00,879
Speaker 1: see Stalin and then some some dude next to him,

628
00:37:00,920 --> 00:37:03,000
Speaker 1: and then you'll see a later photo which was published

629
00:37:03,000 --> 00:37:05,040
Speaker 1: in this dude has just gone and it's you know,

630
00:37:05,040 --> 00:37:08,760
Speaker 1: basically written out of history. And there's a great quote

631
00:37:08,760 --> 00:37:12,360
Speaker 1: from by George Orwell it says, who controls the past

632
00:37:12,440 --> 00:37:15,000
Speaker 1: controls the future. Yeah, and this goes back to what

633
00:37:15,040 --> 00:37:17,640
Speaker 1: we were talking about blockchain in general. You know the

634
00:37:17,680 --> 00:37:20,359
Speaker 1: fact that there is no single point of failure. There

635
00:37:20,440 --> 00:37:22,400
Speaker 1: is there is no way that you can you know,

636
00:37:22,480 --> 00:37:25,600
Speaker 1: you can go to one particular place and corrupt the

637
00:37:25,640 --> 00:37:30,040
Speaker 1: network from there. That's that's one of blockchain's great strengths. So, yeah,

638
00:37:30,120 --> 00:37:33,000
Speaker 1: this idea of being able to store data in a

639
00:37:33,040 --> 00:37:36,400
Speaker 1: decentralized manner so you have a record of the truth

640
00:37:37,480 --> 00:37:42,160
Speaker 1: information like private was the when they have the Freedom

641
00:37:42,200 --> 00:37:45,360
Speaker 1: of Information Act when you can just request that data.

642
00:37:45,440 --> 00:37:47,960
Speaker 1: But you know, so it's it is there and you

643
00:37:48,000 --> 00:37:51,000
Speaker 1: can be well and you can be confident data you're

644
00:37:51,000 --> 00:37:54,560
Speaker 1: getting is redacted. Yeah, it has not been has not

645
00:37:54,640 --> 00:37:59,319
Speaker 1: been tampered with, a worlded and yeah, it's it's it's

646
00:37:59,400 --> 00:38:02,200
Speaker 1: really you know, it's more important than ever we produce.

647
00:38:03,200 --> 00:38:06,880
Speaker 1: What are some of the big players and that. Okay,

648
00:38:06,880 --> 00:38:09,319
Speaker 1: so there are a few storage cryptocurrencies. We've got the

649
00:38:09,360 --> 00:38:13,399
Speaker 1: likes of file coin and see a coin, which are

650
00:38:13,760 --> 00:38:16,360
Speaker 1: both been around for a few years now. The latest

651
00:38:16,400 --> 00:38:18,319
Speaker 1: example and the one that I was talking about that

652
00:38:18,360 --> 00:38:20,440
Speaker 1: when I was researching and found this business with the

653
00:38:20,520 --> 00:38:24,040
Speaker 1: u S archives are weave and it's coin a R

654
00:38:25,200 --> 00:38:28,840
Speaker 1: is a sort of newer project. Now these are all

655
00:38:29,600 --> 00:38:32,200
Speaker 1: these are all crypto coins. They will exist on their

656
00:38:32,200 --> 00:38:35,200
Speaker 1: own blockchain. And yeah, they all do. They all do

657
00:38:35,280 --> 00:38:39,160
Speaker 1: this this thing of decentralized data storage. And actually I've

658
00:38:39,200 --> 00:38:42,719
Speaker 1: been using it a lot to um and also Dan,

659
00:38:42,800 --> 00:38:44,920
Speaker 1: one of our researches at the Coin Bureau, he showed

660
00:38:44,960 --> 00:38:46,759
Speaker 1: he was he was showing me how he was doing

661
00:38:46,800 --> 00:38:50,200
Speaker 1: it too. Like we've started storing stuff. When we see

662
00:38:50,200 --> 00:38:53,879
Speaker 1: an interesting article, we just store it, take it straight

663
00:38:53,920 --> 00:38:56,319
Speaker 1: across into our weave and we you know, then we

664
00:38:56,360 --> 00:38:59,759
Speaker 1: can be confident that it's been stored and not tampered with.

665
00:39:00,200 --> 00:39:01,960
Speaker 1: And actually what a lot of people were doing when

666
00:39:02,040 --> 00:39:06,880
Speaker 1: Russia invaded Ukraine back in February. They've started uploading loads

667
00:39:07,080 --> 00:39:10,839
Speaker 1: of stories, loads of video, photos, other media and stuff.

668
00:39:10,840 --> 00:39:13,560
Speaker 1: They've started uploading it to our We've so as so

669
00:39:13,680 --> 00:39:16,600
Speaker 1: as you've got this indisputable record of what happens, and

670
00:39:16,640 --> 00:39:20,399
Speaker 1: that is going to be so so valuable when when

671
00:39:20,440 --> 00:39:22,919
Speaker 1: you know when the time comes, when the trials come, Yeah,

672
00:39:22,920 --> 00:39:25,279
Speaker 1: and when you know when someone sits down to write

673
00:39:25,280 --> 00:39:29,080
Speaker 1: the history. Because that's as I was saying, like I

674
00:39:29,120 --> 00:39:32,560
Speaker 1: was using it in in the sort of the blase,

675
00:39:33,080 --> 00:39:36,040
Speaker 1: well this this celebrity in the UK said something that

676
00:39:36,160 --> 00:39:40,239
Speaker 1: might be constituted as a little bit offensive, but and

677
00:39:40,320 --> 00:39:42,120
Speaker 1: that's really in the in the grand scheme of things,

678
00:39:42,360 --> 00:39:45,120
Speaker 1: not that big a deal. When you're talking about potential

679
00:39:45,239 --> 00:39:48,520
Speaker 1: war crimes, that's when you need to have it being

680
00:39:48,800 --> 00:39:52,440
Speaker 1: in in unrefutable Yeah, this is what happened. This is

681
00:39:52,480 --> 00:39:55,399
Speaker 1: where it happened. And you can't edit this because it's

682
00:39:55,440 --> 00:39:59,279
Speaker 1: on here is here is actual evidence that can't be Yeah,

683
00:39:59,280 --> 00:40:01,000
Speaker 1: that can't be de eaci it or it can't be

684
00:40:01,040 --> 00:40:03,840
Speaker 1: tampered with or anything like that. You know. So it's

685
00:40:03,880 --> 00:40:06,759
Speaker 1: it's really important. And I think as we as more

686
00:40:06,800 --> 00:40:09,120
Speaker 1: and more stuff gets digitized, as we live more and

687
00:40:09,160 --> 00:40:12,360
Speaker 1: more of our lives online, it's just storing it safely.

688
00:40:12,480 --> 00:40:15,640
Speaker 1: It's propaganda proof information almost because you know, you get

689
00:40:15,719 --> 00:40:22,440
Speaker 1: you get so many conflicting um stories about videos that

690
00:40:22,480 --> 00:40:25,919
Speaker 1: you see like okay, well this was actually from ten

691
00:40:26,000 --> 00:40:28,319
Speaker 1: years ago, and it's not actually what is being said

692
00:40:28,360 --> 00:40:31,040
Speaker 1: in this in this article or in this tweet or

693
00:40:31,120 --> 00:40:33,560
Speaker 1: in this whatever. You know, Like the White Hats is

694
00:40:33,600 --> 00:40:35,279
Speaker 1: something that you know, I don't know if you've seen this.

695
00:40:35,360 --> 00:40:37,640
Speaker 1: There's there's a group called the White Hats, and there's

696
00:40:37,719 --> 00:40:40,279
Speaker 1: arguments whether they're they're good or bad or whatever. It's

697
00:40:40,320 --> 00:40:42,319
Speaker 1: it's just it's sort of confusing for someone who just

698
00:40:42,320 --> 00:40:44,359
Speaker 1: wants to try and find out the truth. Yeah, it's

699
00:40:44,560 --> 00:40:48,279
Speaker 1: it's this is amazing. Yeah, it's I think it's going

700
00:40:48,320 --> 00:40:51,879
Speaker 1: to be a real growth area of cryptocurrency. It's yeah,

701
00:40:51,880 --> 00:40:55,839
Speaker 1: are we Visit's gonna be really useful to journalism, yeah. Yeah.

702
00:40:55,880 --> 00:40:59,200
Speaker 1: And a record that you can that you can absolutely trust,

703
00:40:59,320 --> 00:41:01,919
Speaker 1: that hasn't been yeah, that hasn't been tampered with. It's

704
00:41:01,960 --> 00:41:04,719
Speaker 1: really really important. Um And yeah, as I say, there's

705
00:41:04,719 --> 00:41:06,719
Speaker 1: our weave. There's also file coins see a coin and

706
00:41:06,760 --> 00:41:11,280
Speaker 1: stuff like that. There are again a few more storage cryptocurrencies,

707
00:41:11,280 --> 00:41:13,560
Speaker 1: but they're more they're more tokens as well. And as

708
00:41:13,600 --> 00:41:16,280
Speaker 1: I say, we're just kind of just kind of focusing

709
00:41:16,280 --> 00:41:21,719
Speaker 1: on coins here at the moment. So that's storage cryptocurrencies.

710
00:41:22,160 --> 00:41:24,440
Speaker 1: There was one I want to kind of sort of

711
00:41:24,440 --> 00:41:26,239
Speaker 1: wrap it up now rather with rather than look at

712
00:41:26,239 --> 00:41:29,680
Speaker 1: any other sort of category itself. Coins and tokens are

713
00:41:29,719 --> 00:41:33,040
Speaker 1: starting to blur a bit together. Now we're at the

714
00:41:33,040 --> 00:41:35,799
Speaker 1: point where the categories start to be mainly filled by

715
00:41:35,800 --> 00:41:39,120
Speaker 1: tokens rather than coins, is what I mean. So again

716
00:41:39,280 --> 00:41:41,799
Speaker 1: we'll look at the massive sort of token ecosystem in

717
00:41:41,960 --> 00:41:44,120
Speaker 1: the next episode. I just want to point out a

718
00:41:44,120 --> 00:41:47,919
Speaker 1: couple of kind of outlying coins though that do fit

719
00:41:48,000 --> 00:41:51,920
Speaker 1: into that do fit into their own particular categories, but

720
00:41:52,520 --> 00:41:57,200
Speaker 1: those categories are more filled with tokens. Makes sense, so um.

721
00:41:57,640 --> 00:42:00,000
Speaker 1: The one I want to point out that most people

722
00:42:00,120 --> 00:42:02,600
Speaker 1: might notice, especially if they take a quick look at

723
00:42:02,600 --> 00:42:05,840
Speaker 1: the top cryptos by market cap, is binance coin. To

724
00:42:05,880 --> 00:42:09,359
Speaker 1: take a BnB. Now, this is the native coin of

725
00:42:09,400 --> 00:42:13,239
Speaker 1: the Binance ecosystem, and Binance is most well known as

726
00:42:13,320 --> 00:42:19,040
Speaker 1: the biggest crypto exchange out there um and Binance itself

727
00:42:19,120 --> 00:42:21,480
Speaker 1: is the fifth largest crypto by market cap, and this

728
00:42:21,600 --> 00:42:26,080
Speaker 1: is used primarily to pay trading fees exchange trading fees

729
00:42:26,440 --> 00:42:31,239
Speaker 1: on the Binance exchange. Now, interestingly, BnB actually began life

730
00:42:31,280 --> 00:42:34,680
Speaker 1: as a token on Ethereum, but it was later migrated

731
00:42:34,760 --> 00:42:38,600
Speaker 1: over to the Binance chain, so it is now officially

732
00:42:38,640 --> 00:42:40,640
Speaker 1: a coin. It lives on its own blockchain. I don't know,

733
00:42:40,760 --> 00:42:42,799
Speaker 1: you can do that, just go okay, cool, We'll start

734
00:42:42,840 --> 00:42:46,200
Speaker 1: off here and then we'll jump to how do you

735
00:42:46,239 --> 00:42:49,799
Speaker 1: set up? I've no idea. It's not a question, but

736
00:42:49,920 --> 00:42:52,400
Speaker 1: not not for how do you do? How do you do?

737
00:42:52,680 --> 00:42:56,680
Speaker 1: I don't know, I'm not entirely sure centralized that like, yeah,

738
00:42:56,680 --> 00:42:59,359
Speaker 1: I can't imagine it was something done done quickly. But yeah,

739
00:42:59,400 --> 00:43:02,319
Speaker 1: binances recently, you know, in the past few years, it

740
00:43:02,360 --> 00:43:05,160
Speaker 1: has built the Binance chain, and it's you know, Binance

741
00:43:05,280 --> 00:43:08,160
Speaker 1: is more than just a crypto exchange. You know, it

742
00:43:08,200 --> 00:43:10,759
Speaker 1: now has its own chain, a bit like Ethereum that

743
00:43:10,800 --> 00:43:12,960
Speaker 1: you can build you can build projects on top of,

744
00:43:13,040 --> 00:43:15,879
Speaker 1: issue tokens on top of but b NB is its

745
00:43:16,000 --> 00:43:21,239
Speaker 1: native coin, and it's yeah, the same way that is

746
00:43:21,280 --> 00:43:23,759
Speaker 1: the native coin of ethereum, and yeah, b n B

747
00:43:23,960 --> 00:43:27,640
Speaker 1: it does have use cases beyond actual you know, beyond

748
00:43:27,640 --> 00:43:30,680
Speaker 1: paying exchange fees. And actually binance employees can apparently be

749
00:43:30,719 --> 00:43:33,640
Speaker 1: paid in b mbum, and I think quite a few

750
00:43:33,680 --> 00:43:37,319
Speaker 1: of them did quite well when BMB really pumped a

751
00:43:37,320 --> 00:43:45,480
Speaker 1: few years ago with bmb you know, quite quite um.

752
00:43:45,640 --> 00:43:51,600
Speaker 1: So binance coin falls into the category of exchange coins.

753
00:43:51,600 --> 00:43:55,359
Speaker 1: But it's more, most exchange coins are actually tokens. Most

754
00:43:55,400 --> 00:43:58,440
Speaker 1: exchange cryptocurrencies token so that is a category will look

755
00:43:58,440 --> 00:44:02,399
Speaker 1: at in more detail next episode. And I also want

756
00:44:02,440 --> 00:44:05,960
Speaker 1: to finally mention our good old friend doge coin, and

757
00:44:06,239 --> 00:44:09,800
Speaker 1: doge coin is in fact a coin. We've met it before,

758
00:44:09,840 --> 00:44:12,000
Speaker 1: We know what it's all about. It's famous for being

759
00:44:12,120 --> 00:44:17,200
Speaker 1: the first meme coin, obviously, but again, most meme coins

760
00:44:17,239 --> 00:44:22,359
Speaker 1: are now tokens though, because primarily very easier to create. Yeah,

761
00:44:22,360 --> 00:44:28,080
Speaker 1: it's it's a dog is actually its own coin. Yeah yeah, which, yeah,

762
00:44:28,080 --> 00:44:31,360
Speaker 1: which I feel I've been doing dog disservice because I

763
00:44:31,400 --> 00:44:34,600
Speaker 1: thought it was just I'm sure many people actually many

764
00:44:34,640 --> 00:44:38,280
Speaker 1: many in the doge coin community would would would support

765
00:44:38,280 --> 00:44:40,440
Speaker 1: you on that one, you know and say that actually

766
00:44:40,480 --> 00:44:43,879
Speaker 1: that kind of it elevates it to to something more

767
00:44:43,960 --> 00:44:45,680
Speaker 1: than a mean, this is what a lot of those

768
00:44:45,760 --> 00:44:48,120
Speaker 1: people will say. It's like, no, it's actually a coin.

769
00:44:48,320 --> 00:44:51,720
Speaker 1: It's not just some token that someone's rustled up overnight.

770
00:44:51,800 --> 00:44:54,520
Speaker 1: You know, it is a genuine you know, it is

771
00:44:54,560 --> 00:44:56,880
Speaker 1: a genuine ecosystem. If you like, there is you know,

772
00:44:56,920 --> 00:44:59,600
Speaker 1: there is more to doge coin than meets the eye.

773
00:44:59,640 --> 00:45:01,360
Speaker 1: I did a I've done a couple of videos on

774
00:45:01,760 --> 00:45:05,319
Speaker 1: dose coin and and kind of comparing it with Sheba eu,

775
00:45:05,400 --> 00:45:09,239
Speaker 1: which is it's compared to and I mean neither of

776
00:45:09,280 --> 00:45:12,520
Speaker 1: them are cryptocurrencies that I'd buy, and Sheba you know,

777
00:45:12,640 --> 00:45:15,759
Speaker 1: is obviously is a token, but there is I will

778
00:45:15,800 --> 00:45:17,960
Speaker 1: say that there is actually more to them than just

779
00:45:18,120 --> 00:45:21,040
Speaker 1: you know, it's not just there's a lot of work

780
00:45:21,120 --> 00:45:24,480
Speaker 1: to set up a coin. Yeah, so it's a lot

781
00:45:24,480 --> 00:45:27,279
Speaker 1: of work to just do it for a for a lull. Yeah,

782
00:45:27,320 --> 00:45:30,399
Speaker 1: it is a lot of work for a loll Yeah. Yeah.

783
00:45:30,640 --> 00:45:33,279
Speaker 1: But then that's the internet that yeah, I mean, yeah,

784
00:45:33,400 --> 00:45:35,759
Speaker 1: the the Internet is just full of people with too

785
00:45:35,840 --> 00:45:38,560
Speaker 1: much time on Yes, we really should go and get

786
00:45:38,600 --> 00:45:43,520
Speaker 1: a proper job. Okay, So that brings us to that

787
00:45:43,560 --> 00:45:45,239
Speaker 1: brings us to the end of this episode. So I

788
00:45:45,239 --> 00:45:49,319
Speaker 1: think we've we've covered cryptocurrency coins there, so next week

789
00:45:49,360 --> 00:45:51,880
Speaker 1: will be yeah, I kind of deeper dive into the

790
00:45:51,960 --> 00:45:55,959
Speaker 1: into the wonderful world of cryptocurrency tokens. So but yeah,

791
00:45:56,040 --> 00:45:59,040
Speaker 1: I hope that's been useful. There was great, excellent, excellent.

792
00:45:59,080 --> 00:46:02,160
Speaker 1: Well I'm gonna really look up the coin that I've

793
00:46:02,160 --> 00:46:06,279
Speaker 1: already forgotten the name of cool story. What was it

794
00:46:06,320 --> 00:46:11,200
Speaker 1: called the um they are they are are We've yeah, yeah, yeah,

795
00:46:11,200 --> 00:46:13,400
Speaker 1: have you look into it? Yeah, really really interesting project.

796
00:46:13,400 --> 00:46:17,800
Speaker 1: And yeah, other storage cryptocurrencies are available of course. Anyway, folks,

797
00:46:17,800 --> 00:46:19,959
Speaker 1: thanks for listening. I hope you enjoyed that and found

798
00:46:20,000 --> 00:46:22,000
Speaker 1: it useful, and I hope you can join us next

799
00:46:22,040 --> 00:46:27,279
Speaker 1: time for the cryptocurrency tokens the different categories of see

800
00:46:27,280 --> 00:46:29,480
Speaker 1: you next week. See you then. Thank you so much

801
00:46:29,520 --> 00:46:32,080
Speaker 1: for listening to the coin Bureau podcast. If you'd like

802
00:46:32,120 --> 00:46:35,280
Speaker 1: to learn more about cryptocurrency, you can visit our YouTube

803
00:46:35,360 --> 00:46:38,880
Speaker 1: channel at YouTube dot com forward slash coin Bureau. You

804
00:46:38,920 --> 00:46:41,240
Speaker 1: can also go to coin bureau dot com for loads

805
00:46:41,239 --> 00:46:44,239
Speaker 1: more information about all things crypto. You can follow me

806
00:46:44,280 --> 00:46:46,879
Speaker 1: on Twitter at coin bureau or one word, and I'm

807
00:46:46,920 --> 00:46:50,560
Speaker 1: also active on TikTok and Instagram as well. First of all,

808
00:46:50,840 --> 00:46:55,520
Speaker 1: it's not thank you for listening, you're welcome for great content. Yeah,

809
00:46:55,880 --> 00:46:59,280
Speaker 1: like this is free and they're learning about a fairly

810
00:46:59,360 --> 00:47:02,640
Speaker 1: great top pick in a non boring way. If you'd

811
00:47:02,680 --> 00:47:05,440
Speaker 1: like to visit me and hear more about me, go

812
00:47:05,560 --> 00:47:08,160
Speaker 1: to mooch About m O O C H A b

813
00:47:08,480 --> 00:47:21,320
Speaker 1: O U T or else. For more podcasts from I

814
00:47:21,440 --> 00:47:25,120
Speaker 1: heart Radio, visit the i heart Radio app, Apple Podcasts,

815
00:47:25,320 --> 00:47:36,160
Speaker 1: or wherever we get your podcasts. The coin Gera podcast

816
00:47:36,320 --> 00:48:01,280
Speaker 1: is a production of I heart Radio.