the claim here with the silk road is that instead of trading up music and movies, silk road users were trading in much more

DH-AH0 K-L-EY1-M HH-IY1 R-W-IH1-DH DH-AH0 S-IH1-L K-R-OW1 D-IH1-Z DH-AE1 T-IH0-N-S T-EH1 D-AH1-V T-R-EY1 D-IH0 NG-AH1 P-M-Y-UW1 Z-IH0 K-AH0-N D-M-UW1 V-IY0-Z S-IH1-L K-R-OW1 D-Y-UW1 Z-ER0 Z-W-ER0 T-R-EY1 D-IH0 NG-IH0-N M-AH1 CH-M-AO1-R


mature in the affirmative might have implications, not only for the dark net, but also, piracy operate

M-AH0 CH-UH1 R-IH0-N DH-AH0 AH0 F-ER1 M-AH0 T-IH0 V-M-AY1-T HH-AE1 V-IH2-M P-L-AH0 K-EY1 SH-AH0-N Z-N-AA1 T-OW1 N-L-IY0 F-AO1-R DH-AH0 D-AA1-R K-N-EH1-T B-AH1 T-AO1-L S-OW0 P-AY1 R-AH0 S-IY0 AA1 P-ER0 EY2-T


could be as guilty of selling the substances. and because judicial precedent means that...

K-UH1-D B-IY1 AE1-Z G-IH1-L T-IY0 AH1-V S-EH1 L-IH0-NG DH-AH0 S-AH1-B-S T-AH0-N S-AH0 Z-AH0-N-D B-IH0 K-AO1-Z JH-UW0 D-IH1 SH-AH0-L P-R-EH1 S-IH0 D-AH0-N T-M-IY1-N-Z DH-AE1-T


but, wouldn't... i see where you're coming from and certainly the courts can do whatever they want. but wouldn't the argument essentially be

B-AH1 T-W-UH1 D-L-AH0-N T-AY1 S-IY1 W-EH1 R-Y-UH1-R K-AH1 M-IH0-NG F-R-AH1 M-AH0-N-D S-ER1 T-AH0 N-L-IY0 DH-AH0 K-AO1-R-T-S K-AE1-N D-UW1 W-AH2 T-EH1 V-ER0 DH-EY1 W-AA1-N-T B-AH1 T-W-UH1 D-L-AH0-N-T DH-AH0 AA1-R G-Y-AH0 M-AH0-N T-IH0 S-EH1-N SH-AH0 L-IY0 B-IY1


wherever, if you were to list some sort of illegal service under a company that's trying to only allow for legal services to be listed,

W-EH0 R-EH1 V-ER0 IH1 F-Y-UW1 W-ER0 T-UW1 L-IH1-S-T S-AH1-M S-AO1-R T-AH1 V-IH0 L-IY1 G-AH0-L S-ER1 V-AH0 S-AH1-N D-ER0 AH0 K-AH1-M P-AH0 N-IY0 TH-AE1-T-S T-R-AY1 IH0-NG T-UW1 OW1 N-L-IY0 AH0 L-AW1 F-AO1-R L-IY1 G-AH0-L S-ER1 V-AH0 S-AH0-Z T-UW1 B-IY1 L-IH1-S T-AH0-D


how they would end up finding that person guilty based on the silk road seems like a stretch. i'm not saying they couldn't do it.

HH-AW1 DH-EY1 W-UH1 D-EH1-N D-AH1-P F-AY1-N D-IH0-NG DH-AE1-T P-ER1 S-AH0-N G-IH1-L T-IY0 B-EY1-S T-AA1-N DH-AH0 S-IH1-L K-R-OW1-D S-IY1-M Z-L-AY1 K-AH0-S T-R-EH1 CH-IH1-M N-AA1-T S-EY1 IH0-NG DH-EY1 K-AW1-L D-AH0-N-T D-UW1 IH1-T


it would be one more court ruling to help set the precedent that a website operator,

IH1 T-W-UH1-D B-IY1 W-AH1-N M-AO1-R K-AO1-R T-R-UW1 L-IH0-NG T-UW1 HH-EH1-L-P S-EH1-T DH-AH0 P-R-EH1 S-IH0 D-AH0-N-T DH-AE1 T-AH0 W-EH1-B S-AY2 T-AA1 P-ER0 EY2 T-ER0


it could. but here's the thing with torrents because the pirate bay, unlike napster, the pirate bay does not know,

IH1-T K-UH1-D B-AH1-T HH-IH1-R-Z DH-AH0 TH-IH1 NG-W-IH1-DH T-AO1 R-AH0-N-T-S B-IH0 K-AO1-Z DH-AH0 P-AY1 R-AH0-T B-EY1 AH0 N-L-AY1 K-N-AE1-P-S T-ER0 DH-AH0 P-AY1 R-AH0-T B-EY1 D-AH1 Z-N-AA1 T-N-OW1


the operators of napster knew this is an mp3. this is an impact. this is an mp4.

DH-AH0 AA1 P-ER0 EY2 T-ER0 Z-AH1 V-N-AE1-P-S T-ER0 N-UW1 DH-IH1 S-IH1 Z-AE1-N P-EY1-M TH-R-IY1 DH-IH1 S-IH1 Z-AE1 N-IH1-M P-AE0-K-T DH-IH1 S-IH1 Z-AE1-N P-EY1-M F-AO1-R


with the pirate bay, they just know this is a torrent file. and it connects to a torrent.

W-IH1-DH DH-AH0 P-AY1 R-AH0-T B-EY1 DH-EY1 JH-AH1-S T-N-OW1 DH-IH1 S-IH1 Z-AH0 T-AO1 R-AH0-N-T F-AY1 L-AH0-N D-IH1-T K-AH0 N-EH1-K-T-S T-UW1 AH0 T-AO1 R-AH0-N-T


i moved to the shire because i saw videos of people challenging authority, and thought that i could get support myself.

AY1 M-UW1-V-D T-UW1 DH-AH0 SH-AY1-R B-IH0 K-AO1 Z-AY1 S-AO1 V-IH1 D-IY0 OW0 Z-AH1-V P-IY1 P-AH0-L CH-AE1 L-AH0-N JH-IH0 NG-AH0 TH-AO1 R-AH0 T-IY0 AH0-N-D TH-AO1-T DH-AE1 T-AY1 K-UH1-D G-EH1-T S-AH0 P-AO1-R T-M-AY2 S-EH1-L-F


i wanted to be around people like me, who got it. and once i got here, i knew there was nowhere else i wanted to be.

AY1 W-AA1-N T-AH0-D T-UW1 B-IY1 ER0 AW1-N-D P-IY1 P-AH0-L L-AY1 K-M-IY1 HH-UW1 G-AA1 T-IH1 T-AH0-N D-W-AH1-N S-AY1 G-AA1-T HH-IY1 R-AY1 N-UW1 DH-EH1 R-W-AA1 Z-N-OW1 W-EH2 R-EH1-L S-AY1 W-AA1-N T-AH0-D T-UW1 B-IY1


assure are you that this man would, the first thing that he do is wait until 7:06 pm. so he could flip on the microphones and said, ladies and gentlemen, i have received a natural.

AH0 SH-UH1 R-AA1 R-Y-UW1 DH-AE1-T DH-IH1 S-M-AE1 N-W-UH1-D DH-AH0 F-ER1-S-T TH-IH1-NG DH-AE1-T HH-IY1 D-UW1 IH1 Z-W-EY1 T-AH0-N T-IH1-L S-EH1 V-AH0 N-OW1 S-IH1-K-S P-IY1 EH1-M S-OW1 HH-IY1 K-UH1-D F-L-IH1 P-AA1-N DH-AH0 M-AY1 K-R-OW0 F-OW2-N Z-AH0-N-D S-EH1 D-L-EY1 D-IY0 Z-AH0-N-D JH-EH1-N T-AH0-L M-IH0 N-AY1 HH-AE1 V-R-AH0 S-IY1-V D-AH0 N-AE1 CH-ER0 AH0-L


i can't believe the words that are coming out of your mouth. that is not the [ian freeman 00:07:43] that i believe that i have worked with for 12 years.

AY1 K-AE1-N-T B-IH0 L-IY1-V DH-AH0 W-ER1-D-Z DH-AE1 T-AA1-R K-AH1 M-IH0 NG-AW1 T-AH1 V-Y-AO1-R M-AW1-DH DH-AE1 T-IH1 Z-N-AA1-T DH-AH0 IY1 AH0-N F-R-IY1 M-AH0-N Z-IH1 R-OW0 AW1 ER0-Z S-EH1 V-AH0-N M-IH1 N-AH0-T S-AH0-N-D F-AO1-R T-IY0 TH-R-IY1 S-EH1 K-AH0-N-D-Z DH-AE1 T-AY1 B-IH0 L-IY1-V DH-AE1 T-AY1 HH-AE1 V-W-ER1-K T-W-IH1-DH F-AO1-R T-W-EH1-L V-Y-IH1-R-Z


minutes of, of video, down to a minute and a half worth of what they're calling harassment.

M-IH1 N-AH0-T S-AH1 V-AH1-V V-IH1 D-IY0 OW0 D-AW1-N T-UW1 AH0 M-IH1 N-AH0 T-AH0-N D-AH0 HH-AE1 F-W-ER1 TH-AH1 V-W-AH1-T TH-EH1-R K-AO1 L-IH0-NG HH-ER0 AE1 S-M-AH0-N-T


i want to know what was moving about this to you, mark. you said it was a moving video. we'll come back with more here in moments. this is free talk, live 8554503. share your thoughts,

AY1 W-AA1-N-T T-UW1 N-OW1 W-AH1 T-W-AA1 Z-M-UW1 V-IH0 NG-AH0 B-AW1-T DH-IH1-S T-UW1 Y-UW1 M-AA1-R K-Y-UW1 S-EH1 D-IH1 T-W-AA1 Z-AH0 M-UW1 V-IH0-NG V-IH1 D-IY0 OW0 W-EH1-L K-AH1-M B-AE1 K-W-IH1 DH-M-AO1-R HH-IY1 R-IH0-N M-OW1 M-AH0-N-T-S DH-IH1 S-IH1-Z F-R-IY1 T-AO1 K-L-AY1 V-EY1 T-M-IH1 L-Y-AH0-N F-AY1-V HH-AH1-N D-R-AH0-D F-IH1-F T-IY0 F-AO1-R TH-AW1 Z-AH0-N-D F-AY1-V HH-AH1-N D-R-AH0-D TH-R-IY1 SH-EH1 R-Y-AO1-R TH-AO1-T-S


go into a bar, consider that beautiful women are more likely to get into the nicest clubs out there. they're going to get bumped to the front of the line and all that stuff.

G-OW1 IH0-N T-UW1 AH0 B-AA1-R K-AH0-N S-IH1 D-ER0 DH-AE1-T B-Y-UW1 T-AH0 F-AH0 L-W-IH1 M-AH0 N-AA1-R M-AO1-R L-AY1 K-L-IY0 T-UW1 G-EH1 T-IH0-N T-UW1 DH-AH0 N-AY1 S-IH0-S-T K-L-AH1-B Z-AW1-T DH-EH1-R TH-EH1-R G-OW1 IH0-NG T-UW1 G-EH1-T B-AH1-M-P-T T-UW1 DH-AH0 F-R-AH1-N T-AH1-V DH-AH0 L-AY1 N-AH0-N D-AO1-L DH-AE1-T-S T-AH1-F


i don't think. okay. so i think its sexual harassment, but i don't know what you do about it.

AY1 D-AA1-N-T TH-IH1-NG K-OW2 K-EY1 S-OW1 AY1 TH-IH1-NG K-IH1-T-S S-EH1-K SH-UW0 AH0-L HH-ER0 AE1 S-M-AH0-N-T B-AH1 T-AY1 D-AA1-N T-N-OW1 W-AH1 T-Y-UW1 D-UW1 AH0 B-AW1 T-IH1-T


she didn't say anything on purpose. she did nothing to try to, to get these-

SH-IY1 D-IH1 D-AH0-N-T S-EY1 EH1 N-IY0 TH-IH2 NG-AA1-N P-ER1 P-AH0-S SH-IY1 D-IH1 D-N-AH1 TH-IH0-NG T-UW1 T-R-AY1 T-UW1 T-UW1 G-EH1-T DH-IY1-Z


yeah, at least six years and then for six years at school.

Y-AE1 AE1 T-L-IY1-S-T S-IH1-K S-Y-IH1-R Z-AH0-N-D DH-EH1-N F-AO1-R S-IH1-K S-Y-IH1-R Z-AE1-T-S K-UW1-L


okay. well, i said she played basketball for columbia. she was tall and athletic. and if she went jogging through the neighborhood, she would attract-

OW2 K-EY1 W-EH1 L-AY1 S-EH1-D SH-IY1 P-L-EY1-D B-AE1-S K-AH0-T B-AO2-L F-AO1-R K-AH0 L-AH1-M B-IY0 AH0 SH-IY1 W-AA1-Z T-AO1 L-AH0-N D-AE0 TH-L-EH1 T-IH0 K-AH0-N D-IH1-F SH-IY1 W-EH1-N-T JH-AA1 G-IH0-NG TH-R-UW1 DH-AH0 N-EY1 B-ER0 HH-UH2-D SH-IY1 W-UH1 D-AH0 T-R-AE1-K-T


you're walking down the street, they might be on their way to go do something that if she turned around and talked to them, they'd be like, ''wow. i never thought you'd say anything. i don't have time, take my number. i'll talk to you later''. you don't know.

Y-UH1 R-W-AO1 K-IH0-NG D-AW1-N DH-AH0-S T-R-IY1-T DH-EY1 M-AY1-T B-IY1 AA1-N DH-EH1 R-W-EY1 T-UW1 G-OW1 D-UW1 S-AH1-M TH-IH0-NG DH-AE1 T-IH1-F SH-IY1 T-ER1-N D-ER0 AW1-N D-AH0-N-D T-AO1-K-T T-UW1 DH-EH1-M TH-IY1-D B-IY1 L-AY1 K-W-AW1 AY1 N-EH1 V-ER0 TH-AO1 T-Y-AH1-D S-EY1 EH1 N-IY0 TH-IH2 NG-AY1 D-AA1-N-T HH-AE1-V T-AY1-M T-EY1 K-M-AY1 N-AH1-M B-ER0 IH1-L T-AO1-K T-UW1 Y-UW1 L-EY1 T-ER0 Y-UW1 D-AA1-N T-N-OW1


i've never not said thank you when someone said something nice to me, ''thanks for the call, daniel. i appreciate the feedback tonight''. the toll free number is 8555503.

AY1 V-N-EH1 V-ER0 N-AA1-T S-EH1-D TH-AE1-NG K-Y-UW1 W-EH1-N S-AH1 M-W-AH2-N S-EH1-D S-AH1-M TH-IH0-NG N-AY1-S T-UW1 M-IY1 TH-AE1-NG-K-S F-AO1-R DH-AH0 K-AO1-L D-AE1 N-Y-AH0 L-AY1 AH0 P-R-IY1 SH-IY0 EY2-T DH-AH0 F-IY1-D B-AE2-K T-AH0 N-AY1-T DH-AH0 T-OW1-L F-R-IY1 N-AH1-M B-ER0 IH1 Z-EY1 T-M-IH1 L-Y-AH0-N F-AY1-V HH-AH1-N D-R-AH0-D F-IH1-F T-IY0 F-AY1-V TH-AW1 Z-AH0-N-D F-AY1-V HH-AH1-N D-R-AH0-D TH-R-IY1


but then again- i will walk right past somebody on the street that's talking to me. cause i don't... what are you talking to me about on the street? and now

B-AH1-T DH-EH1 N-AH0 G-EH1 N-AY1 W-IH1 L-W-AO1 K-R-AY1-T P-AE1-S-T S-AH1-M B-AA2 D-IY0 AA1-N DH-AH0-S T-R-IY1-T TH-AE1-T-S T-AO1 K-IH0-NG T-UW1 M-IY1 K-AA1 Z-AY1 D-AA1-N T-W-AH1 T-AA1 R-Y-UW1 T-AO1 K-IH0-NG T-UW1 M-IY1 AH0 B-AW1 T-AA1-N DH-AH0-S T-R-IY1 T-AH0-N D-N-AW1


manhattan, we're talking about a video from manhattan. and when i go-

M-AE0-N HH-AE1 T-AH0 N-W-ER0 T-AO1 K-IH0 NG-AH0 B-AW1 T-AH0 V-IH1 D-IY0 OW0 F-R-AH1-M M-AE0-N HH-AE1 T-AH0 N-AH0-N D-W-EH1 N-AY1 G-OW1


as a human being. hold on. they know their craft in many cases, and the craft is to get you to stop, and have these-

AE1 Z-AH0 HH-Y-UW1 M-AH0-N B-IY1 IH0-NG HH-OW1-L D-AA1-N DH-EY1 N-OW1 DH-EH1-R K-R-AE1-F T-IH0-N M-EH1 N-IY0 K-EY1 S-AH0 Z-AH0-N-D DH-AH0 K-R-AE1-F T-IH1-Z T-UW1 G-EH1 T-Y-UW1 T-UW1-S T-AA1 P-AH0-N-D HH-AE1-V DH-IY1-Z


and not have to stop, as these guys are saying things to her in this video, she could just say, thanks as she's walking by.

AH0-N D-N-AA1-T HH-AE1-V T-UW1-S T-AA1 P-AE1-Z DH-IY1-Z G-AY1 Z-AA1-R S-EY1 IH0-NG TH-IH1-NG-Z T-UW1 HH-ER0 IH0-N DH-IH1-S V-IH1 D-IY0 OW0 SH-IY1 K-UH1-D JH-AH1-S-T S-EY1 TH-AE1-NG-K S-AE1-Z SH-EH1 S-W-AO1 K-IH0-NG B-AY1


in the case of the guys in the video, i have never been a voluptuous d cup. okay? never in my life. i don't know what that's like. i do know

IH0-N DH-AH0 K-EY1 S-AH1-V DH-AH0 G-AY1 Z-IH0-N DH-AH0 V-IH1 D-IY0 OW0 AY1 HH-AE1 V-N-EH1 V-ER0 B-IH1 N-AH0 V-AH0 L-AH1-P CH-AH0 W-AH0-S D-IY1 K-AH1 P-OW2 K-EY1 N-EH1 V-ER0 IH0-N M-AY1 L-AY1 F-AY1 D-AA1-N T-N-OW1 W-AH1-T TH-AE1-T S-L-AY1 K-AY1 D-UW1 N-OW1


by trying to contact me on the streets for your own.

B-AY1 T-R-AY1 IH0-NG T-UW1 K-AA1-N T-AE2-K T-M-IY1 AA1-N DH-AH0-S T-R-IY1-T-S F-AO1 R-Y-AO1 R-OW1-N


ian, if you want money from me, say, ''hey, cracker, can i get some money?''. just go ahead and-

IY1 AH0 N-IH1 F-Y-UW1 W-AA1-N T-M-AH1 N-IY0 F-R-AH1-M M-IY1 S-EY1 HH-EY1 K-R-AE1 K-ER0 K-AE1 N-AY1 G-EH1-T S-AH1-M M-AH1 N-IY0 JH-AH1-S-T G-OW1 AH0 HH-EH1 D-AH0-N-D


yeah, maybe you could find that on your own.

Y-AE1 M-EY1 B-IY0 Y-UW1 K-UH1-D F-AY1-N-D DH-AE1 T-AA1 N-Y-AO1 R-OW1-N


and when you look at her, she's perfect for this. she's the perfect woman for this. she's very curvy. she's got a big pair

AH0-N D-W-EH1 N-Y-UW1 L-UH1 K-AE1-T HH-ER0 SH-EH1-S P-ER0 F-EH1-K-T F-AO1-R DH-IH1-S SH-EH1-S DH-AH0 P-ER1 F-IH2-K T-W-UH1 M-AH0-N F-AO1-R DH-IH1-S SH-EH1-S V-EH1 R-IY0 K-ER1 V-IY0 SH-EH1-S G-AA1 T-AH0 B-IH1-G P-EH1-R


and she's also, she's a, that kind of ethnicity that could be anything, anything from italian to middle eastern.

AH0-N-D SH-EH1 S-AO1-L S-OW0 SH-EH1 S-AH0 DH-AE1-T K-AY1-N D-AH1 V-EH0 TH-N-IH1 S-IH0 T-IY0 DH-AE1-T K-UH1-D B-IY1 EH1 N-IY0 TH-IH2 NG-EH1 N-IY0 TH-IH2-NG F-R-AH1 M-IH0 T-AE1 L-Y-AH0-N T-UW1 M-IH1 D-AH0 L-IY1-S T-ER0-N


or maybe it was no- but she's none of those. maybe it was no casting call. maybe she's his girlfriend or something like that.

AO1-R M-EY1 B-IY0 IH1 T-W-AA1 Z-N-OW1 B-AH1-T SH-EH1 S-N-AH1 N-AH1-V DH-OW1 Z-M-EY1 B-IY0 IH1 T-W-AA1 Z-N-OW1 K-AE1-S T-IH0-NG K-AO1-L M-EY1 B-IY0 SH-EH1-S HH-IH1-Z G-ER1-L F-R-EH2-N D-AO1-R S-AH1-M TH-IH0 NG-L-AY1-K DH-AE1-T


you're so right. i'm trying to raise men in this society. i got three boys and put them in school ...

Y-UH1-R S-OW1 R-AY1 T-IH1-M T-R-AY1 IH0-NG T-UW1 R-EY1 Z-M-EH1 N-IH0-N DH-IH1-S S-AH0 S-AY1 AH0 T-IY0 AY1 G-AA1-T TH-R-IY1 B-OY1 Z-AH0-N-D P-UH1-T DH-EH1 M-IH0-N-S K-UW1-L


probably should stick with me using the term hustling because haranguing is a little colloquial

P-R-AA1 B-AH0 B-L-IY0 SH-UH1-D-S T-IH1 K-W-IH1 DH-M-IY1 Y-UW1 Z-IH0-NG DH-AH0 T-ER1-M HH-AH1 S-AH0 L-IH0-NG B-IH0 K-AO1-Z HH-ER0 AE1 NG-IH0 NG-IH1 Z-AH0 L-IH1 T-AH0-L K-AH0 L-OW1 K-W-IY0 AH0-L


[crosstalk] . i've been harangued. the one guy did do that. the one guy is like, "when somebody compliments you, you should be grateful" or something like that. so that guy did do some haranguing.

K-R-AO1-S T-AO1 K-AY1-V B-IH1-N HH-ER0 AE1-NG-D DH-AH0 W-AH1-N G-AY1 D-IH1-D D-UW1 DH-AE1-T DH-AH0 W-AH1-N G-AY1 IH1 Z-L-AY1 K-W-EH1-N S-AH1-M B-AA2 D-IY0 K-AA1-M P-L-AH0 M-AH0-N-T S-Y-UW1 Y-UW1 SH-UH1-D B-IY1 G-R-EY1-T F-AH0 L-AO1-R S-AH1-M TH-IH0 NG-L-AY1-K DH-AE1-T S-OW1 DH-AE1-T G-AY1 D-IH1-D D-UW1 S-AH1-M HH-ER0 AE1 NG-IH0-NG


well, i wouldn't call that aggressing against or being aggressive towards her.

W-EH1 L-AY1 W-UH1 D-L-AH0-N-T K-AO1-L DH-AE1 T-AH0 G-R-EH1 S-IH0 NG-AH0 G-EH1-N-S T-AO1-R B-IY1 IH0 NG-AH0 G-R-EH1 S-IH0-V T-AH0 W-AO1-R-D-Z HH-ER0


how do you speak in an aggressive manner?

HH-AW1 D-UW1 Y-UW1-S P-IY1 K-IH0 N-AE1 N-AH0 G-R-EH1 S-IH0 V-M-AE1 N-ER0


people say, "i feel threatened by what you're doing. you may not be-"

P-IY1 P-AH0-L S-EY1 AY1 F-IY1-L TH-R-EH1 T-AH0-N-D B-AY1 W-AH1 T-Y-UH1-R D-UW1 IH0 NG-Y-UW1 M-EY1 N-AA1-T B-IY1


i think the point that he's trying to make is the person's perception on the receiving end, right? that they're walking down the street, people are saying things that they don't want to hear and whether-

AY1 TH-IH1-NG-K DH-AH0 P-OY1-N-T DH-AE1-T HH-IY1-Z T-R-AY1 IH0-NG T-UW1 M-EY1 K-IH1-Z DH-AH0 P-ER1 S-AH0-N-Z P-ER0 S-EH1-P SH-AH0 N-AA1-N DH-AH0 R-AH0 S-IY1 V-IH0 NG-EH1-N D-R-AY1-T DH-AE1-T TH-EH1 R-W-AO1 K-IH0-NG D-AW1-N DH-AH0-S T-R-IY1-T P-IY1 P-AH0 L-AA1-R S-EY1 IH0-NG TH-IH1-NG-Z DH-AE1-T DH-EY1 D-AA1-N T-W-AA1-N-T T-UW1 HH-IY1 R-AH0-N D-W-EH1 DH-ER0


right, but i'm just saying, i think the point that he's trying to make is that it's unwelcomed for whatever reason. is that accurate?

R-AY1-T B-AH1 T-IH1-M JH-AH1-S-T S-EY1 IH0 NG-AY1 TH-IH1-NG-K DH-AH0 P-OY1-N-T DH-AE1-T HH-IY1-Z T-R-AY1 IH0-NG T-UW1 M-EY1 K-IH1-Z DH-AE1 T-IH1-T S-AH0 N-W-EH1-L K-AH0-M-D F-AO1 R-W-AH2 T-EH1 V-ER0 R-IY1 Z-AH0 N-IH1-Z DH-AE1 T-AE1 K-Y-ER0 AH0-T


know when people are talking to you on the streets of new york. i've been with you there. you're so in your own world, you have no clue that people are trying to get our attention sometimes.

N-OW1 W-EH1-N P-IY1 P-AH0 L-AA1-R T-AO1 K-IH0-NG T-UW1 Y-UW1 AA1-N DH-AH0-S T-R-IY1-T S-AH1 V-N-UW1 Y-AO1-R K-AY1-V B-IH1 N-W-IH1 DH-Y-UW1 DH-EH1 R-Y-UH1-R S-OW1 IH0 N-Y-AO1 R-OW1 N-W-ER1-L D-Y-UW1 HH-AE1 V-N-OW1 K-L-UW1 DH-AE1-T P-IY1 P-AH0 L-AA1-R T-R-AY1 IH0-NG T-UW1 G-EH1 T-AW1 ER0 AH0 T-EH1-N SH-AH0-N S-AH0-M T-AY1-M-Z


i'm glad they got your attention, but i have seen instances where you have no clue what a-

IH1-M G-L-AE1-D DH-EY1 G-AA1 T-Y-AO1 R-AH0 T-EH1-N SH-AH0-N B-AH1 T-AY1 HH-AE1-V S-IY1 N-IH1-N-S T-AH0-N S-AH0 Z-W-EH1 R-Y-UW1 HH-AE1 V-N-OW1 K-L-UW1 W-AH1 T-AH0


he launched like a hundred thousand paper airplanes during, we have what's called art prize. it's the largest art prize competition from grand rapids. it's one of the world's most famous, i guess, for that.

HH-IY1 L-AO1-N-CH T-L-AY1 K-AH0 HH-AH1-N D-R-AH0-D TH-AW1 Z-AH0-N-D P-EY1 P-ER0 EH1-R P-L-EY0-N-Z D-UH1 R-IH0 NG-W-IY1 HH-AE1 V-W-AH0-T-S K-AO1-L D-AA1-R-T P-R-AY1 Z-IH1-T-S DH-AH0 L-AA1-R JH-AH0-S T-AA1-R-T P-R-AY1-Z K-AA2-M P-AH0 T-IH1 SH-AH0-N F-R-AH1-M G-R-AE1-N D-R-AE1 P-AH0-D Z-IH1-T S-W-AH1 N-AH1-V DH-AH0 W-ER1-L-D Z-M-OW1-S-T F-EY1 M-AH0 S-AY1 G-EH1-S F-AO1-R DH-AE1-T


if you want the one, and i'll bet you. let's go around and ask a bunch of ugly chicks if they want to be beautiful. that if you want the one you've got to.

IH1 F-Y-UW1 W-AA1-N-T DH-AH0 W-AH1 N-AH0-N D-IH1-L B-EH1 T-Y-UW1 L-EH1-T-S G-OW1 ER0 AW1-N D-AH0-N D-AE1-S K-AH0 B-AH1-N CH-AH1 V-AH1 G-L-IY0 CH-IH1-K S-IH1-F DH-EY1 W-AA1-N-T T-UW1 B-IY1 B-Y-UW1 T-AH0 F-AH0-L DH-AE1 T-IH1 F-Y-UW1 W-AA1-N-T DH-AH0 W-AH1 N-Y-UW1-V G-AA1-T T-UW1


welcome aboard, pete.


oh, i beg to differ. the arab world does it all the time. we used to do it, but se, we tolerate this

OW1 AY1 B-EH1-G T-UW1 D-IH1 F-ER0 DH-AH0 AE1 R-AH0 B-W-ER1-L-D D-AH1 Z-IH1 T-AO1-L DH-AH0 T-AY1 M-W-IY1 Y-UW1-S-T T-UW1 D-UW1 IH1-T B-AH1-T S-AW2 TH-IY1-S T-W-IY1 T-AA1 L-ER0 EY2-T DH-IH1-S


all of us. if god says it's wrong in the bible, it is

AO1 L-AH1 V-AH1 S-IH1-F G-AA1-D S-EH1 Z-IH1-T S-R-AO1 NG-IH0-N DH-AH0 B-AY1 B-AH0 L-IH1 T-IH1-Z


criminal. they're criminals, so they need to be put down. they don't have a right to go.

K-R-IH1 M-AH0 N-AH0-L TH-EH1-R K-R-IH1 M-AH0 N-AH0-L-Z S-OW1 DH-EY1 N-IY1-D T-UW1 B-IY1 P-UH1-T D-AW1-N DH-EY1 D-AA1-N-T HH-AE1 V-AH0 R-AY1-T T-UW1 G-OW1


let me try to work with him. he might have a gem here if we try. so

L-EH1 T-M-IY1 T-R-AY1 T-UW1 W-ER1 K-W-IH1-DH HH-IH1-M HH-IY1 M-AY1-T HH-AE1 V-AH0 JH-EH1-M HH-IY1 R-IH1 F-W-IY1 T-R-AY1 S-OW1


i mean, what i admire about pete is that pete really cares about the things that he believes in. i want to co- .

AY1 M-IY1 N-W-AH1 T-AY1 AE0 D-M-AY1 R-AH0 B-AW1-T P-IY1 T-IH1-Z DH-AE1-T P-IY1 T-R-IH1 L-IY0 K-EH1-R Z-AH0 B-AW1-T DH-AH0 TH-IH1-NG-Z DH-AE1-T HH-IY1 B-IH0 L-IY1-V Z-IH0 N-AY1 W-AA1-N-T T-UW1 K-OW1


pete, are you going to have a conversation with us or whoever it is your dinner date is?

P-IY1 T-AA1 R-Y-UW1 G-OW1 IH0-NG T-UW1 HH-AE1 V-AH0 K-AA2-N V-ER0 S-EY1 SH-AH0 N-W-IH1 DH-AH1 S-AO1-R HH-UW0 EH1 V-ER0 IH1 T-IH1 Z-Y-AO1-R D-IH1 N-ER0 D-EY1 T-IH1-Z


i'll make my case. you know what? the bible says you're to stone them to death. it's called sodomy. any unnatural sex is called sodomy. then

IH1-L M-EY1 K-M-AY1 K-EY1 S-Y-UW1 N-OW1 W-AH1-T DH-AH0 B-AY1 B-AH0-L S-EH1 Z-Y-UH1-R T-UW1-S T-OW1-N DH-EH1-M T-UW1 D-EH1 TH-IH1-T-S K-AO1-L-D S-AA1 D-AH0 M-IY0 EH1 N-IY0 AH0-N N-AE1 CH-ER0 AH0-L S-EH1-K S-IH1-Z K-AO1-L-D S-AA1 D-AH0 M-IY0 DH-EH1-N


the same thing exactly. it's a lesbian thing. it's a demonic spirit that is unnatural and [inaudible] -

DH-AH0 S-EY1-M TH-IH1 NG-IH0-G Z-AE1-K T-L-IY0 IH1-T S-AH0 L-EH1-Z B-IY0 AH0-N TH-IH1 NG-IH1-T S-AH0 D-IH0 M-AA1 N-IH0-K-S P-IH1 R-AH0-T DH-AE1 T-IH1 Z-AH0-N N-AE1 CH-ER0 AH0 L-AH0-N D-IH0 N-AO1 D-AH0 B-AH0-L


wait a second, god came to earth and didn't do something so simple as to write down on the neck-

W-EY1 T-AH0 S-EH1 K-AH0-N-D G-AA1-D K-EY1-M T-UW1 ER1 TH-AH0-N-D D-IH1 D-AH0-N-T D-UW1 S-AH1-M TH-IH0-NG S-OW1 S-IH1-M P-AH0 L-AE1-Z T-UW1 R-AY1-T D-AW1 N-AA1-N DH-AH0 N-EH1-K


all or nothing. this doesn't make any sense to me because the bible wasn't-

AO1 L-AO1-R N-AH1 TH-IH0-NG DH-IH1-S D-OW1 S-AH0-N T-M-EY1 K-EH1 N-IY0 S-EH1-N-S T-UW1 M-IY1 B-IH0 K-AO1-Z DH-AH0 B-AY1 B-AH0 L-W-AO1-S-T


it doesn't make any sense because it wasn't even written until well after jesus died. it was voted on by a bunch of catholics. why do you support

IH1-T D-OW1 S-AH0-N T-M-EY1 K-EH1 N-IY0 S-EH1-N-S B-IH0 K-AO1 Z-IH1 T-W-AO1-S T-IY1 V-IH0 N-R-IH1 T-AH0 N-AH0-N T-IH1 L-W-EH1 L-AE1-F T-ER0 JH-IY1 Z-AH0-S D-AY1 D-IH1 T-W-AA1-Z V-OW1 T-AH0 D-AA1-N B-AY1 AH0 B-AH1-N CH-AH1-V K-AE1 TH-L-IH0-K S-W-AY1 D-UW1 Y-UW1 S-AH0 P-AO1-R-T


[crosstalk] . speaker 7: i know everything i need to know about god from fred phelps

K-R-AO1-S T-AO1-K-S P-IY1 K-ER0 S-EH1 V-AH0 N-AY1 N-OW1 EH1 V-R-IY0 TH-IH2 NG-AY1 N-IY1-D T-UW1 N-OW1 AH0 B-AW1-T G-AA1-D F-R-AH1-M F-R-EH1-D F-EH1-L-P-S


oh, i enjoy pete's calls too. he's crazy. he is crazy.

OW1 AY1 EH0-N JH-OY1 P-IY1-T-S K-AO1-L-Z T-UW1 HH-IY1-Z K-R-EY1 Z-IY0 HH-IY1 IH1-Z K-R-EY1 Z-IY0


let's go to the phones and your calls and thoughts. will is in tallahassee listening to

L-EH1-T-S G-OW1 T-UW1 DH-AH0 F-OW1-N Z-AH0-N D-Y-AO1-R K-AO1-L Z-AH0-N-D TH-AO1-T S-W-IH1 L-IH1 Z-IH0-N T-AE2 L-AH0 HH-AE1 S-IY0 L-IH1 S-AH0 N-IH0-NG T-UW1


wvft. hey, will.


sure. how can you have equality when you emphasize women?

SH-UH1-R HH-AW1 K-AE1 N-Y-UW1 HH-AE1 V-IH0 K-W-AA1 L-AH0 T-IY0 W-EH1 N-Y-UW1 EH1-M F-AH0 S-AY2 Z-W-IH1 M-AH0-N


this is free talk live. you can bring it to anything that you want.

DH-IH1 S-IH1-Z F-R-IY1 T-AO1 K-L-AY1 V-Y-UW1 K-AE1-N B-R-IH1 NG-IH1-T T-UW1 EH1 N-IY0 TH-IH2-NG DH-AE1 T-Y-UW1 W-AA1-N-T


check out more of chris over at [christophercantwell.com 00:03:29] . and as you mentioned, chris, you will be on a panel this coming weekend at keenvention.

CH-EH1 K-AW1 T-M-AO1 R-AH1-V K-R-IH1 S-OW1 V-ER0 AE1-T K-R-IH2-S T-AH0 F-ER1 T-AH0-N TH-AH0 L-EH1-L D-AA1-T K-AA1-M Z-IH1 R-OW0 AW1 ER0-Z TH-R-IY1 M-IH1 N-AH0-T S-AH0-N-D T-W-EH1-N T-IY0 N-AY1-N S-EH1 K-AH0-N-D Z-AH0-N D-AE1 Z-Y-UW1 M-EH1-N SH-AH0-N-D K-R-IH1 S-Y-UW1 W-IH1-L B-IY1 AA1 N-AH0 P-AE1 N-AH0-L DH-IH1-S K-AH1 M-IH0 NG-W-IY1 K-EH2-N D-AE1-T K-IH0-N V-EH1-N SH-AH0-N


i am looking forward to the media panel. i think it's going to be a blast.

AY1 AE1 M-L-UH1 K-IH0-NG F-AO1 R-W-ER0-D T-UW1 DH-AH0 M-IY1 D-IY0 AH0 P-AE1 N-AH0 L-AY1 TH-IH1-NG K-IH1-T-S G-OW1 IH0-NG T-UW1 B-IY1 AH0 B-L-AE1-S-T


oh yes. mark and i ... have you been banned from liberty forum?

OW1 Y-EH1 S-M-AA1-R K-AH0-N D-AY1 HH-AE1 V-Y-UW1 B-IH1-N B-AE1-N-D F-R-AH1 M-L-IH1 B-ER0 T-IY0 F-AO1 R-AH0-M


[crosstalk] . nor do i want to be at this point. [crosstalk] .

K-R-AO1-S T-AO1 K-N-AO1-R D-UW1 AY1 W-AA1-N-T T-UW1 B-IY1 AE1-T DH-IH1-S P-OY1-N-T K-R-AO1-S T-AO1-K


her mannerisms and the way she was behaving were certainly on unattractive, but i mean-

HH-ER0 M-AE1 N-ER0 IH2 Z-AH0-M Z-AH0-N-D DH-AH0 W-EY1 SH-IY1 W-AA1-Z B-IH0 HH-EY1 V-IH0 NG-W-ER0 S-ER1 T-AH0 N-L-IY0 AA1 N-AH2 N-AH0 T-R-AE1-K T-IH0-V B-AH1 T-AY1 M-IY1-N


in manhattan, there's just like tremendous numbers of really beautiful women. she does not stand out whatsoever and-

IH0-N M-AE0-N HH-AE1 T-AH0-N DH-EH1-R-Z JH-AH1-S T-L-AY1-K T-R-AH0 M-EH1-N D-AH0 S-N-AH1-M B-ER0 Z-AH1 V-R-IH1 L-IY0 B-Y-UW1 T-AH0 F-AH0 L-W-IH1 M-AH0-N SH-IY1 D-AH1 Z-N-AA1-T-S T-AE1-N D-AW1 T-W-AH2-T S-OW0 EH1 V-ER0 AH0-N-D


you're a bottom feeder if you say good morning back or hello or thank you?

Y-UH1 R-AH0 B-AA1 T-AH0-M F-IY1 D-ER0 IH1 F-Y-UW1 S-EY1 G-UH1 D-M-AO1-R N-IH0-NG B-AE1 K-AO1-R HH-AH0 L-OW1 AO1-R TH-AE1-NG K-Y-UW1


it was all admittedly that. i still think that they were hitting on her.

IH1 T-W-AA1 Z-AO1 L-AE0 D-M-IH1 T-IH0 D-L-IY0 DH-AE1 T-AY1-S T-IH1-L TH-IH1-NG-K DH-AE1-T DH-EY1 W-ER0 HH-IH1 T-IH0 NG-AA1-N HH-ER0


let me ask you this question. i'm sorry, sir, i forgot your name. that was the one [crosstalk] that was that you would go for-

L-EH1 T-M-IY1 AE1-S K-Y-UW1 DH-IH1-S K-W-EH1-S CH-AH0 N-IH1-M S-AA1 R-IY0 S-ER1 AY1 F-ER0 G-AA1 T-Y-AO1-R N-EY1-M DH-AE1 T-W-AA1-Z DH-AH0 W-AH1-N K-R-AO1-S T-AO1-K DH-AE1 T-W-AA1-Z DH-AE1 T-Y-UW1 W-UH1-D G-OW1 F-AO1-R


[inaudible] live is produced independently by me.

IH0 N-AO1 D-AH0 B-AH0-L L-AY1 V-IH1-Z P-R-AH0 D-UW1-S T-IH2-N D-IH0 P-EH1-N D-AH0-N T-L-IY0 B-AY1 M-IY1


i like that. so the information is available, but

AY1 L-AY1-K DH-AE1-T S-OW1 DH-AH0 IH2-N F-ER0 M-EY1 SH-AH0 N-IH1 Z-AH0 V-EY1 L-AH0 B-AH0-L B-AH1-T


a much easier way to understand how it applies to our industry is through your book.

AH0 M-AH1 CH-IY1 Z-IY0 ER0 W-EY1 T-UW1 AH2-N D-ER0-S T-AE1-N-D HH-AW1 IH1 T-AH0 P-L-AY1-Z T-UW1 AW1 ER0 IH1-N D-AH0-S T-R-IY0 IH1-Z TH-R-UW1 Y-AO1-R B-UH1-K


yeah. i really appreciate that, and i'm sure your students will too.

Y-AE1 AY1 R-IH1 L-IY0 AH0 P-R-IY1 SH-IY0 EY2-T DH-AE1 T-AH0-N D-IH1-M SH-UH1 R-Y-AO1-R-S T-UW1 D-AH0-N-T S-W-IH1-L T-UW1


what kind of jobs are they looking for? do they have an idea, or can you tell me a little bit about it? i'm curious.

W-AH1-T K-AY1-N D-AH1-V JH-AA1-B Z-AA1-R DH-EY1 L-UH1 K-IH0-NG F-AO1-R D-UW1 DH-EY1 HH-AE1 V-AE1 N-AY0 D-IY1 AH0 AO1-R K-AE1 N-Y-UW1 T-EH1-L M-IY1 AH0 L-IH1 T-AH0-L B-IH1 T-AH0 B-AW1 T-IH1 T-IH1-M K-Y-UH1 R-IY0 AH0-S


it sounds like you're saying

IH1-T S-AW1-N-D Z-L-AY1 K-Y-UH1-R S-EY1 IH0-NG


that audio for live events is actually a lot more valued and more visible now than it was say 20 years ago.

DH-AE1 T-AA1 D-IY0 OW2 F-AO1-R L-AY1 V-IH0 V-EH1-N-T S-IH1 Z-AE1-K CH-AH0 W-AH0 L-IY0 AH0 L-AA1 T-M-AO1-R V-AE1 L-Y-UW0 D-AH0-N D-M-AO1-R V-IH1 Z-AH0 B-AH0-L N-AW1 DH-AE1 N-IH1 T-W-AA1-Z S-EY1 T-W-EH1-N T-IY0 Y-IH1-R Z-AH0 G-OW1


signal down in multi-pair snake with other audio things going on.

S-IH1 G-N-AH0-L D-AW1 N-IH0-N M-AH1-L-T P-EY2 ER0 S-N-EY1 K-W-IH1 DH-AH1 DH-ER0 AA1 D-IY0 OW2 TH-IH1-NG-Z G-OW1 IH0 NG-AA1-N


-problem the pentagon department of defense had the issue where they started just putting super glue in the usb

P-R-AA1 B-L-AH0-M DH-AH0 P-EH1-N T-IH0 G-AA2-N D-IH0 P-AA1-R T-M-AH0-N T-AH1-V D-IH0 F-EH1-N-S HH-AE1-D DH-AH0 IH1 SH-UW0 W-EH1-R DH-EY1-S T-AA1-R T-AH0-D JH-AH1-S-T P-AH1 T-IH0-NG S-UW1 P-ER0 G-L-UW1 IH0-N DH-AH0 AH1-S-B


[crosstalk] . wait, tell me ...


i didn't hear about this. can you tell me the story? well, super glue in all of my usb drives.

AY1 D-IH1 D-AH0-N-T HH-IY1 R-AH0 B-AW1-T DH-IH1-S K-AE1 N-Y-UW1 T-EH1-L M-IY1 DH-AH0-S T-AO1 R-IY0 W-EH1-L S-UW1 P-ER0 G-L-UW1 IH0 N-AO1 L-AH1 V-M-AY1 AH1-S-B D-R-AY1-V-Z


don, let's talk about the weather.

D-AA1 N-L-EH1-T-S T-AO1 K-AH0 B-AW1-T DH-AH0 W-EH1 DH-ER0


you have published a lot of storm-related entries on your blog often related to live event incidents, disasters-

Y-UW1 HH-AE1-V P-AH1 B-L-IH0-SH T-AH0 L-AA1 T-AH1-V-S T-AO1-R M-ER0 L-EY2 T-AH0 D-EH1-N T-R-IY0 Z-AA1 N-Y-AO1-R B-L-AA1 G-AO1 F-AH0 N-R-IH0 L-EY1 T-IH0-D T-UW1 L-AY1 V-IH0 V-EH1-N T-IH1-N S-AH0 D-AH0-N-T-S D-IH0 Z-AE1-S T-ER0-Z


-conditions. there is something bad happen-

K-AH0-N D-IH1 SH-AH0-N-Z DH-EH1 R-IH1-Z S-AH1-M TH-IH0-NG B-AE1-D HH-AE1 P-AH0-N


john, i like to ask people about their educational experience to help future students. could you talk about your experience getting an mfa in theater and how you got your first-

JH-AA1 N-AY1 L-AY1-K T-UW1 AE1-S-K P-IY1 P-AH0 L-AH0 B-AW1-T DH-EH1 R-EH2 JH-AH0 K-EY1 SH-AH0 N-AH0 L-IH0-K-S P-IH1 R-IY0 AH0-N-S T-UW1 HH-EH1-L-P F-Y-UW1 CH-ER0-S T-UW1 D-AH0-N-T-S K-UH1 D-Y-UW1 T-AO1 K-AH0 B-AW1 T-Y-AO1 R-IH0-K-S P-IH1 R-IY0 AH0-N-S G-EH1 T-IH0 NG-AE1-N M-AA1 F-AH0 IH0-N TH-IY1 AH0 T-ER0 AH0-N-D HH-AW1 Y-UW1 G-AA1 T-Y-AO1-R F-ER1-S-T


it is a better cable but it is expensive and i don't think you see it that often in live production. so yeah, it was a pretty big deal for him to come out and say this is really important.

IH1 T-IH1 Z-AH0 B-EH1 T-ER0 K-EY1 B-AH0-L B-AH1 T-IH1 T-IH1 Z-IH0-K-S P-EH1-N S-IH0 V-AH0-N D-AY1 D-AA1-N-T TH-IH1-NG K-Y-UW1 S-IY1 IH1-T DH-AE1 T-AO1 F-AH0 N-IH0 N-L-AY1-V P-R-AH0 D-AH1-K SH-AH0-N S-OW1 Y-AE1 IH1 T-W-AA1 Z-AH0 P-R-IH1 T-IY0 B-IH1-G D-IY1-L F-AO1-R HH-IH1-M T-UW1 K-AH1 M-AW1 T-AH0-N-D S-EY1 DH-IH1 S-IH1 Z-R-IH1 L-IY0 IH0-M P-AO1-R T-AH0-N-T


yeah. i learned long ago that just-

Y-AE1 AY1 L-ER1 N-IH0 D-L-AO1 NG-AH0 G-OW1 DH-AE1-T JH-AH1-S-T


[crosstalk] mellow orange.

K-R-AO1-S T-AO1 K-M-EH1 L-OW0 AO1 R-AH0-N-JH


-bad ass starting props from the likes of slum village and [fantay] along the way. it all began when he was just a teenager.

B-AE1 D-AE1-S-S T-AA1-R T-IH0-NG P-R-AA1-P-S F-R-AH1-M DH-AH0 L-AY1-K S-AH1-V S-L-AH1-M V-IH1 L-AH0 JH-AH0-N-D F-AE1-N T-EY2 AH0 L-AO1-NG DH-AH0 W-EY1 IH1 T-AO1-L B-IH0 G-AE1 N-W-EH1-N HH-IY1 W-AA1-Z JH-AH1-S T-AH0 T-IY1 N-EY2 JH-ER0


yeah. let's talk about them. what significance do they have, and why was it that they stuck out to you amongst all the other music that was going on?

Y-AE1 L-EH1-T-S T-AO1 K-AH0 B-AW1-T DH-EH1 M-W-AH1-T S-AH0 G-N-IH1 F-IH0 K-AH0-N-S D-UW1 DH-EY1 HH-AE1 V-AH0-N D-W-AY1 W-AA1 Z-IH1-T DH-AE1-T DH-EY1-S T-AH1 K-AW1-T T-UW1 Y-UW1 AH0 M-AH1-NG-S T-AO1-L DH-AH0 AH1 DH-ER0 M-Y-UW1 Z-IH0-K DH-AE1 T-W-AA1-Z G-OW1 IH0 NG-AA1-N


the sound providers, when they came by later on in my teens, that's the same type of sound that i gravitated towards.

DH-AH0 S-AW1-N-D P-R-AH0 V-AY1 D-ER0 Z-W-EH1-N DH-EY1 K-EY1-M B-AY1 L-EY1 T-ER0 AA1 N-IH0-N M-AY1 T-IY1-N-Z TH-AE1-T-S DH-AH0 S-EY1-M T-AY1 P-AH1-V S-AW1-N-D DH-AE1 T-AY1 G-R-AE1 V-AH0 T-EY2 T-IH0-D T-AH0 W-AO1-R-D-Z


now, would you have been seeing them performing live, or was this just music that was circulating on the radio? or how were you, i guess, coming into contact with their music?

N-AW1 W-UH1 D-Y-UW1 HH-AE1-V B-IH1-N S-IY1 IH0-NG DH-EH1-M P-ER0 F-AO1-R M-IH0 NG-L-AY1 V-AO1 R-W-AA1-Z DH-IH1-S JH-AH1-S T-M-Y-UW1 Z-IH0-K DH-AE1 T-W-AA1-Z S-ER1 K-Y-AH0 L-EY2 T-IH0 NG-AA1-N DH-AH0 R-EY1 D-IY0 OW2 AO1-R HH-AW1 W-ER0 Y-UW1 AY1 G-EH1-S K-AH1 M-IH0 NG-IH0-N T-UW1 K-AA1-N T-AE2-K T-W-IH1-DH DH-EH1-R M-Y-UW1 Z-IH0-K


now, when you first would have started, did you ever give yourself a d- i know you go by freddy joe [wakem] obviously, but did you ever give yourself a dj name when you were first kind of getting into it?

N-AW1 W-EH1 N-Y-UW1 F-ER1-S T-W-UH1-D HH-AE1-V-S T-AA1-R T-AH0-D D-IH1 D-Y-UW1 EH1 V-ER0 G-IH1 V-Y-ER0 S-EH1-L F-AH0 D-IY1 AY1 N-OW1 Y-UW1 G-OW1 B-AY1 F-R-EH1 D-IY0 JH-OW1 W-EY1 K-AH0 M-AA1-B V-IY0 AH0 S-L-IY0 B-AH1-T D-IH1 D-Y-UW1 EH1 V-ER0 G-IH1 V-Y-ER0 S-EH1-L F-AH0 JH-IY1 D-IY1 N-EY1 M-W-EH1 N-Y-UW1 W-ER0 F-ER1-S-T K-AY1-N D-AH1-V G-EH1 T-IH0 NG-IH0-N T-UW1 IH1-T


like steer into another direction of deejaying. so that's how i got into like battle djs, being a battle dj and stuff like that.

L-AY1-K-S T-IH1 R-IH0-N T-UW1 AH0 N-AH1 DH-ER0 D-ER0 EH1-K SH-AH0 N-AH1-V D-EY2 ZH-EY1 IH0-NG S-OW1 TH-AE1-T-S HH-AW1 AY1 G-AA1 T-IH0-N T-UW1 L-AY1-K B-AE1 T-AH0-L JH-IY1 D-IY1-Z B-IY1 IH0 NG-AH0 B-AE1 T-AH0-L JH-IY1 D-IY1 AH0-N-D-S T-AH1 F-L-AY1-K DH-AE1-T


speaking of that, actually, this is a quote. i believe i read this on one of your interviews or something like that, but you said it wasn't until you were a teenager that you found out that some of your favorite [inaudible]

S-P-IY1 K-IH0 NG-AH1-V DH-AE1 T-AE1-K CH-AH0 W-AH0 L-IY0 DH-IH1 S-IH1 Z-AH0 K-W-OW1 T-AY1 B-IH0 L-IY1 V-AY1 R-EH1-D DH-IH1 S-AA1 N-W-AH1 N-AH1 V-Y-AO1 R-IH1-N T-ER0 V-Y-UW2 Z-AO1-R S-AH1-M TH-IH0 NG-L-AY1-K DH-AE1-T B-AH1 T-Y-UW1 S-EH1 D-IH1 T-W-AO1-S T-AH0-N T-IH1 L-Y-UW1 W-ER0 AH0 T-IY1 N-EY2 JH-ER0 DH-AE1 T-Y-UW1 F-AW1-N D-AW1-T DH-AE1-T S-AH1 M-AH1 V-Y-AO1-R F-EY1 V-ER0 IH0 T-IH0 N-AO1 D-AH0 B-AH0-L


jazz records. do you remember any of those earlier records when you made this discovery?

JH-AE1 Z-R-EH1 K-ER0-D-Z D-UW1 Y-UW1 R-IH0 M-EH1-M B-ER0 EH1 N-IY0 AH1-V DH-OW1 Z-ER1 L-IY0 ER0 R-EH1 K-ER0-D Z-W-EH1 N-Y-UW1 M-EY1-D DH-IH1-S D-IH0-S K-AH1 V-ER0 IY0


i still have that one, and i remember listening to that

AY1-S T-IH1-L HH-AE1-V DH-AE1 T-W-AH1 N-AH0-N D-AY1 R-IH0 M-EH1-M B-ER0 L-IH1 S-AH0 N-IH0-NG T-UW1 DH-AE1-T


record all the time before i even got into deejaying. i remember playing that record because it had a few drum brakes on it too.

R-EH1 K-ER0 D-AO1-L DH-AH0 T-AY1-M B-IH0 F-AO1 R-AY1 IY1 V-IH0-N G-AA1 T-IH0-N T-UW1 D-EY2 ZH-EY1 IH0 NG-AY1 R-IH0 M-EH1-M B-ER0 P-L-EY1 IH0-NG DH-AE1 T-R-EH1 K-ER0-D B-IH0 K-AO1 Z-IH1-T HH-AE1 D-AH0 F-Y-UW1 D-R-AH1-M B-R-EY1-K S-AA1 N-IH1-T T-UW1


other than that, i always wanted to collect [inaudible] like the bob james series and a few herbie hancock records.

AH1 DH-ER0 DH-AE1-N DH-AE1 T-AY1 AO1 L-W-EY2 Z-W-AA1-N T-AH0-D T-UW1 K-AH0 L-EH1-K T-IH0 N-AO1 D-AH0 B-AH0-L L-AY1-K DH-AH0 B-AA1-B JH-EY1-M-Z S-IH1 R-IY0 Z-AH0-N D-AH0 F-Y-UW1 HH-ER1 B-IY0 HH-AE1-N K-AA2 K-R-EH1 K-ER0-D-Z


was it a mode of transportation, or were you getting into tricks and stuff like that too?

W-AA1 Z-IH1 T-AH0 M-OW1 D-AH1-V T-R-AE2-N-S P-ER0 T-EY1 SH-AH0 N-AO1 R-W-ER0 Y-UW1 G-EH1 T-IH0 NG-IH0-N T-UW1 T-R-IH1-K S-AH0-N-D-S T-AH1 F-L-AY1-K DH-AE1-T T-UW1


but yeah. yeah. i remember being like a 13 year old and then coming home from school and just like skating all day and then skating all summer.

B-AH1 T-Y-AE1 Y-AE1 AY1 R-IH0 M-EH1-M B-ER0 B-IY1 IH0 NG-L-AY1 K-AH0 TH-ER1 T-IY1 N-Y-IH1 R-OW1-L D-AH0-N-D DH-EH1-N K-AH1 M-IH0-NG HH-OW1-M F-R-AH1-M-S K-UW1 L-AH0-N-D JH-AH1-S T-L-AY1-K-S K-EY1 T-IH0 NG-AO1-L D-EY1 AH0-N-D DH-EH1-N-S K-EY1 T-IH0 NG-AO1-L S-AH1 M-ER0


you mentioned your dad, some of the records that you got from him. what other music was in the household as you were growing up?

Y-UW1 M-EH1-N SH-AH0-N D-Y-AO1-R D-AE1-D S-AH1 M-AH1-V DH-AH0 R-EH1 K-ER0-D-Z DH-AE1 T-Y-UW1 G-AA1-T F-R-AH1-M HH-IH1 M-W-AH1 T-AH1 DH-ER0 M-Y-UW1 Z-IH0 K-W-AA1 Z-IH0-N DH-AH0 HH-AW1-S HH-OW2-L D-AE1 Z-Y-UW1 W-ER0 G-R-OW1 IH0 NG-AH1-P


-for a really long time, but yeah, yeah. like tony gwynn did a lot for not just baseball, but he did a lot for the city of san diego.

F-AO1 R-AH0 R-IH1 L-IY0 L-AO1-NG T-AY1-M B-AH1 T-Y-AE1 Y-AE1 L-AY1-K T-OW1 N-IY0 G-W-IH1-N D-IH1 D-AH0 L-AA1-T F-AO1-R N-AA1-T JH-AH1-S-T B-EY1-S B-AO1-L B-AH1-T HH-IY1 D-IH1 D-AH0 L-AA1-T F-AO1-R DH-AH0 S-IH1 T-IY0 AH1-V S-AE1-N D-IY0 EY1 G-OW0


what do you see yourself as first? are you a producer first dj second, or is it vice versa for you?

W-AH1-T D-UW1 Y-UW1 S-IY1 Y-ER0 S-EH1-L F-AE1-Z F-ER1-S T-AA1 R-Y-UW1 AH0 P-R-AH0 D-UW1 S-ER0 F-ER1-S-T JH-IY1 D-IY1 S-EH1 K-AH0-N D-AO1 R-IH1 Z-IH1-T V-AY1-S V-ER1 S-AH0 F-AO1 R-Y-UW1


i think it kind of flip flops now and then. right now i feel like i'm-

AY1 TH-IH1-NG K-IH1-T K-AY1-N D-AH1-V F-L-IH1-P F-L-AA1-P S-N-AW1 AH0-N-D DH-EH1 N-R-AY1 T-N-AW1 AY1 F-IY1-L L-AY1 K-IH1-M


since we are a canadian blog, the come up show, i want to ask about two canadian connections both of them producers actually. how did you first connect with moonshine and [slakadeliqs]

S-IH1-N S-W-IY1 AA1 R-AH0 K-AH0 N-EY1 D-IY0 AH0-N B-L-AA1-G DH-AH0 K-AH1 M-AH1-P SH-OW1 AY1 W-AA1-N-T T-UW1 AE1-S K-AH0 B-AW1-T T-UW1 K-AH0 N-EY1 D-IY0 AH0-N K-AH0 N-EH1-K SH-AH0-N-Z B-OW1 TH-AH1-V DH-EH1-M P-R-AH0 D-UW1 S-ER0 Z-AE1-K CH-AH0 W-AH0 L-IY0 HH-AW1 D-IH1 D-Y-UW1 F-ER1-S-T K-AH0 N-EH1-K T-W-IH1 DH-M-UW1-N SH-AY2 N-AH0-N-D S-L-AA0 K-AA0 D-IY1 L-EH0-S


and the beatchild? and he was working on one of his albums at the time.

AH0-N-D DH-AH0 B-IY1 CH-AH0-L D-AH0-N-D HH-IY1 W-AA1 Z-W-ER1 K-IH0 NG-AA1 N-W-AH1 N-AH1-V HH-IH1 Z-AE1-L B-AH0-M Z-AE1-T DH-AH0 T-AY1-M


tell me, tell me a bit about the origin of the label mellow orange.

T-EH1-L M-IY1 T-EH1-L M-IY1 AH0 B-IH1 T-AH0 B-AW1-T DH-AH0 AO1 R-AH0 JH-AH0 N-AH1-V DH-AH0 L-EY1 B-AH0-L M-EH1 L-OW0 AO1 R-AH0-N-JH


major labels and indie labels they're ... it's kind of night and day in a sense. of course,

M-EY1 JH-ER0 L-EY1 B-AH0-L Z-AH0-N D-IH1-N D-IY0 L-EY1 B-AH0-L-Z TH-EH1 R-IH1-T-S K-AY1-N D-AH1 V-N-AY1 T-AH0-N-D D-EY1 IH0 N-AH0 S-EH1-N S-AH1-V K-AO1-R-S


not really have a definitive sound because we really like the new stuff coming out, but we still kind of ...

N-AA1 T-R-IH1 L-IY0 HH-AE1 V-AH0 D-IH0 F-IH1 N-IH0 T-IH0-V S-AW1-N-D B-IH0 K-AO1 Z-W-IY1 R-IH1 L-IY0 L-AY1-K DH-AH0 N-UW1-S T-AH1-F K-AH1 M-IH0 NG-AW1-T B-AH1 T-W-IY1-S T-IH1-L K-AY1-N D-AH1-V


a lot of my stuff is like jazz sample base. so i think part of that is learning the history of music.

AH0 L-AA1 T-AH1 V-M-AY1-S T-AH1 F-IH1 Z-L-AY1-K JH-AE1-Z S-AE1-M P-AH0-L B-EY1-S S-OW1 AY1 TH-IH1-NG-K P-AA1-R T-AH1-V DH-AE1 T-IH1 Z-L-ER1 N-IH0-NG DH-AH0 HH-IH1-S T-ER0 IY0 AH1 V-M-Y-UW1 Z-IH0-K


yeah. yeah. i'm not going to get into the specifics of it only because i don't want to call out these artists. some people have ...

Y-AE1 Y-AE1 IH1-M N-AA1-T G-OW1 IH0-NG T-UW1 G-EH1 T-IH0-N T-UW1 DH-AH0-S P-IH0 S-IH1 F-IH0-K S-AH1 V-IH1 T-OW1 N-L-IY0 B-IH0 K-AO1 Z-AY1 D-AA1-N T-W-AA1-N-T T-UW1 K-AO1 L-AW1-T DH-IY1 Z-AA1-R T-AH0-S-T-S S-AH1-M P-IY1 P-AH0-L HH-AE1-V


they make countless mixed tapes when i feel they should be focusing on ...

DH-EY1 M-EY1-K K-AW1-N T-L-AH0 S-M-IH1-K-S-T T-EY1-P S-W-EH1 N-AY1 F-IY1-L DH-EY1 SH-UH1-D B-IY1 F-OW1 K-AH0 S-IH0 NG-AA1-N


it's kind of like what are you doing? you know? but yeah, that's the gist of it. you have to kind of ...

IH1-T-S K-AY1-N D-AH1 V-L-AY1 K-W-AH1 T-AA1 R-Y-UW1 D-UW1 IH0 NG-Y-UW1 N-OW1 B-AH1 T-Y-AE1 TH-AE1-T-S DH-AH0 JH-IH1-S T-AH1 V-IH1 T-Y-UW1 HH-AE1-V T-UW1 K-AY1-N D-AH1-V


if you want people to take you seriously as an artist, you have to respect the process of making an album.

IH1 F-Y-UW1 W-AA1-N-T P-IY1 P-AH0-L T-UW1 T-EY1 K-Y-UW1 S-IH1 R-IY0 AH0 S-L-IY0 AE1 Z-AE1 N-AA1-R T-AH0-S T-Y-UW1 HH-AE1-V T-UW1 R-IH0-S P-EH1-K-T DH-AH0 P-R-AA1 S-EH2 S-AH1 V-M-EY1 K-IH0 NG-AE1 N-AE1-L B-AH0-M


crazier than the next person or anything like that, but just show who you really are. i feel like a lot of people ...

K-R-EY1 Z-IY0 ER0 DH-AE1-N DH-AH0 N-EH1-K-S-T P-ER1 S-AH0 N-AO1 R-EH1 N-IY0 TH-IH2 NG-L-AY1-K DH-AE1-T B-AH1-T JH-AH1-S-T SH-OW1 HH-UW1 Y-UW1 R-IH1 L-IY0 AA1 R-AY1 F-IY1-L L-AY1 K-AH0 L-AA1 T-AH1-V P-IY1 P-AH0-L


who they really are as artists, and i think it's important to kind of stay true to yourself and be humble and stuff. that's one thing like i understand being a young-

HH-UW1 DH-EY1 R-IH1 L-IY0 AA1 R-AE1 Z-AA1-R T-AH0-S-T S-AH0-N D-AY1 TH-IH1-NG K-IH1-T S-IH0-M P-AO1-R T-AH0-N-T T-UW1 K-AY1-N D-AH1-V-S T-EY1 T-R-UW1 T-UW1 Y-ER0 S-EH1-L F-AH0-N-D B-IY1 HH-AH1-M B-AH0 L-AH0-N-D-S T-AH1-F TH-AE1-T S-W-AH1-N TH-IH1 NG-L-AY1 K-AY1 AH2-N D-ER0-S T-AE1-N-D B-IY1 IH0 NG-AH0 Y-AH1-NG


life lesson? it sounds really cliche, but like i guess just do what you love and ...

L-AY1 F-L-EH1 S-AH0 N-IH1-T S-AW1-N-D Z-R-IH1 L-IY0 K-L-IY0 SH-EY1 B-AH1 T-L-AY1 K-AY1 G-EH1-S JH-AH1-S-T D-UW1 W-AH1 T-Y-UW1 L-AH1 V-AH0-N-D


.. i mean that meaning, you only really have ... for most people, you only have one life

AY1 M-IY1-N DH-AE1 T-M-IY1 N-IH0 NG-Y-UW1 OW1 N-L-IY0 R-IH1 L-IY0 HH-AE1-V F-AO1-R M-OW1-S-T P-IY1 P-AH0 L-Y-UW1 OW1 N-L-IY0 HH-AE1 V-W-AH1 N-L-AY1-F


and you might as well-


thank you. i appreciate your time and best of luck to you in the future.

TH-AE1-NG K-Y-UW1 AY1 AH0 P-R-IY1 SH-IY0 EY2 T-Y-AO1-R T-AY1 M-AH0-N-D B-EH1-S T-AH1 V-L-AH1-K T-UW1 Y-UW1 IH0-N DH-AH0 F-Y-UW1 CH-ER0


all right, peace. peace. well, there you have it. if you want to know more about freddie joachim, you can go to thecomeupshow.com. we've got lots of music to check out there.

AO1-L R-AY1-T P-IY1-S P-IY1 S-W-EH1-L DH-EH1 R-Y-UW1 HH-AE1 V-IH1 T-IH1 F-Y-UW1 W-AA1-N-T T-UW1 N-OW1 M-AO1 R-AH0 B-AW1-T F-R-EH1 D-IY0 Y-OW2 AA1 K-IH0 M-Y-UW1 K-AE1-N G-OW1 T-UW1 TH-EH2 K-AH0 M-OW0-S F-EH1 R-AH0 M-AH0 S-W-IY1-V G-AA1 T-L-AA1-T S-AH1 V-M-Y-UW1 Z-IH0-K T-UW1 CH-EH1 K-AW1-T DH-EH1-R


help us out, subscribe on itunes, follow us on soundcloud, follow us on twitter and instagram too @thecomeupshow. if you're in london..

HH-EH1-L P-AH1 S-AW1-T S-AH0-B-S K-R-AY1 B-AA1 N-IH1 T-UW0-N-Z F-AA1 L-OW0 AH1 S-AA1-N S-AW1-N-D K-AH2-L-F F-AA1 L-OW0 AH1 S-AA1-N T-W-IH1 T-ER0 AH0-N D-IH0-N-S T-EH1 G-R-AE2-M T-UW1 TH-IH0 K-AH0 M-UW1-P SH-UW0 IH1 F-Y-UH1 R-IH0 N-L-AH1-N D-AH0-N


at worldfest 2014. thank you so much for coming.

AE1 T-W-ER1-L-D F-EH2-S-T T-W-EH1-N T-IY0 F-AO1-R T-IY1-N TH-AE1-NG K-Y-UW1 S-OW1 M-AH1-CH F-AO1-R K-AH1 M-IH0-NG


organizer of the san francisco bitcoin meetup, which is i think second to ...

AO1-R G-AH0 N-AY2 Z-ER0 AH1-V DH-AH0 S-AE1-N F-R-AE0-N S-IH1-S K-OW0 B-IH1-T K-AH0-N M-IY1 T-AH2 P-W-IH1 CH-IH1 Z-AY1 TH-IH1-NG-K S-EH1 K-AH0-N-D T-UW1


things that are happening around it because they're based in san francisco, a lot of them are.

TH-IH1-NG-Z DH-AE1 T-AA1-R HH-AE1 P-AH0 N-IH0 NG-ER0 AW1-N D-IH1-T B-IH0 K-AO1-Z TH-EH1-R B-EY1-S T-IH0-N S-AE1-N F-R-AE0-N S-IH1-S K-OW0 AH0 L-AA1 T-AH1-V DH-EH1 M-AA1-R


as a anti-war activist and a liberty/anarchy oriented person, i found that bitcoin is a great way to

AE1 Z-AH0 AE2-N T-AY0 W-AO1 R-AE1-K T-AH0 V-AH0-S T-AH0-N D-AH0 L-AY0 B-R-EH1 T-IH0-N CH-EH2 R-IY0 AO1 R-IY0 EH2-N T-AH0-D P-ER1 S-AH0 N-AY1 F-AW1-N-D DH-AE1-T B-IH1-T K-AH0 N-IH1 Z-AH0 G-R-EY1 T-W-EY1 T-UW1


help facilitate the anti-war message. and

HH-EH1-L-P F-AH0 S-IH1 L-AH0 T-EY2-T DH-AH0 AE2-N T-AY0 W-AO1-R M-EH1 S-AH0 JH-AH0-N-D


my name is lyn ulbricht. i became involved in bitcoin when my son

M-AY1 N-EY1 M-IH1 Z-L-IH1 N-AH1-L B-R-IH0-K T-AY1 B-IH0 K-EY1 M-IH0-N V-AA1-L-V D-IH0-N B-IH1-T K-AH0 N-W-EH1-N M-AY1 S-AH1-N


was arrested for allegedly being the ... creators,

W-AA1 Z-ER0 EH1-S T-AH0-D F-AO1 R-AH0 L-EH1 JH-AH0 D-L-IY0 B-IY1 IH0-NG DH-AH0 K-R-IY0 EY1 T-ER0-Z


conferences and stuff. it's a very similar ratio,

K-AA1-N F-ER0 AH0-N S-AH0 Z-AH0-N-D-S T-AH1 F-IH1-T S-AH0 V-EH1 R-IY0 S-IH1 M-AH0 L-ER0 R-EY1 SH-IY0 OW2


it's mixed bag.


and i haven't had any problems as far as being a woman in bitcoin. i don't even really like to think of myself as a woman in bitcoin. i'm just

AH0-N D-AY1 HH-AE1 V-AH0-N-T HH-AE1 D-EH1 N-IY0 P-R-AA1 B-L-AH0-M Z-AE1-Z F-AA1 R-AE1-Z B-IY1 IH0 NG-AH0 W-UH1 M-AH0 N-IH0-N B-IH1-T K-AH0 N-AY1 D-AA1-N T-IY1 V-IH0 N-R-IH1 L-IY0 L-AY1-K T-UW1 TH-IH1-NG K-AH1 V-M-AY2 S-EH1-L F-AE1 Z-AH0 W-UH1 M-AH0 N-IH0-N B-IH1-T K-AH0 N-IH1-M JH-AH1-S-T


as kind of odd, maybe unbalanced ratio. i think it maybe has more to do with a focus on the certain male-dominated aspects within

AE1-Z K-AY1-N D-AH1 V-AA1 D-M-EY1 B-IY0 AH0-N B-AE1 L-AH0-N-S T-R-EY1 SH-IY0 OW2 AY1 TH-IH1-NG K-IH1 T-M-EY1 B-IY0 HH-AE1 Z-M-AO1-R T-UW1 D-UW1 W-IH1 DH-AH0 F-OW1 K-AH0 S-AA1-N DH-AH0 S-ER1 T-AH0-N M-AE2 L-AH0 D-EY1 M-AH0 N-EY2 T-IH0 D-AE1-S P-EH2-K-T S-W-IH0 DH-IH1-N


protocol. so, it doesn't have, i don't view it as having much to do with gender. to me, it's very much a human rights.

P-R-OW1 T-AH0 K-AA2-L S-OW1 IH1-T D-OW1 S-AH0-N-T HH-AE1 V-AY1 D-AA1-N-T V-Y-UW1 IH1 T-AE1-Z HH-AE1 V-IH0-NG M-AH1-CH T-UW1 D-UW1 W-IH1-DH JH-EH1-N D-ER0 T-UW1 M-IY1 IH1-T-S V-EH1 R-IY0 M-AH1 CH-AH0 HH-Y-UW1 M-AH0 N-R-AY1-T-S


so, i don't know. i guess i kind of associate

S-OW1 AY1 D-AA1-N T-N-OW1 AY1 G-EH1 S-AY1 K-AY1-N D-AH1 V-AH0 S-OW1 S-IY0 AH0-T


not even feminine versus masculine, just the characteristics that tend to play out when you are of these genders. so, i think in terms of

N-AA1 T-IY1 V-IH0-N F-EH1 M-AH0 N-AH0-N V-ER1 S-AH0 S-M-AE1-S K-Y-AH0 L-AH0-N JH-AH1-S-T DH-AH0 K-EH2 R-AH0-K T-ER0 IH1-S T-IH0-K-S DH-AE1-T T-EH1-N-D T-UW1 P-L-EY1 AW1 T-W-EH1 N-Y-UW1 AA1 R-AH1-V DH-IY1-Z JH-EH1-N D-ER0-Z S-OW1 AY1 TH-IH1-NG K-IH0-N T-ER1-M Z-AH1-V


artificially inflate the numbers to kind of make it seem more

AA2-R T-AH0 F-IH1 SH-AH0 L-IY0 IH0-N F-L-EY1-T DH-AH0 N-AH1-M B-ER0-Z T-UW1 K-AY1-N D-AH1 V-M-EY1 K-IH1-T S-IY1-M M-AO1-R


and that know exactly what they're talking about and have really smart things to say

AH0-N-D DH-AE1 T-N-OW1 IH0-G Z-AE1-K T-L-IY0 W-AH1-T TH-EH1-R T-AO1 K-IH0 NG-AH0 B-AW1 T-AH0-N-D HH-AE1 V-R-IH1 L-IY0 S-M-AA1-R-T TH-IH1-NG-Z T-UW1 S-EY1


and there are speakers out there and really intelligent people.

AH0-N-D DH-EH1 R-AA1-R-S P-IY1 K-ER0 Z-AW1-T DH-EH1 R-AH0-N D-R-IH1 L-IY0 IH0-N T-EH1 L-AH0 JH-AH0-N-T P-IY1 P-AH0-L


i don't necessarily think that we should be artificially inflating any sort of ratio.

AY1 D-AA1-N T-N-EH2 S-AH0 S-EH1 R-AH0 L-IY0 TH-IH1-NG-K DH-AE1 T-W-IY1 SH-UH1-D B-IY1 AA2-R T-AH0 F-IH1 SH-AH0 L-IY0 IH0-N F-L-EY1 T-IH0 NG-EH1 N-IY0 S-AO1-R T-AH1 V-R-EY1 SH-IY0 OW2


i guess, i identify with that, pitching to women a little bit more than the guys because i felt

AY1 G-EH1 S-AY1 AY0 D-EH1-N T-AH0 F-AY2 W-IH1-DH DH-AE1-T P-IH1 CH-IH0-NG T-UW1 W-IH1 M-AH0 N-AH0 L-IH1 T-AH0-L B-IH1 T-M-AO1-R DH-AE1-N DH-AH0 G-AY1-Z B-IH0 K-AO1 Z-AY1 F-EH1-L-T


like i'm doing a lot of content for tatiana coin, i'm doing the first ever artists cryptocurrency. and so, i've been making a lot of content and i haven't been afraid to be like, "i don't know."

L-AY1 K-IH1-M D-UW1 IH0 NG-AH0 L-AA1 T-AH1-V K-AA1-N T-EH0-N-T F-AO1-R T-AE2 T-IY2 AE1 N-AH0 K-OY1 N-IH1-M D-UW1 IH0-NG DH-AH0 F-ER1-S T-EH1 V-ER0 AA1-R T-AH0-S-T-S K-R-IH1 P-AH0 K-Y-AH0 N-ER0 SH-IY0 AH0-N-D S-OW1 AY1-V B-IH1-N M-EY1 K-IH0 NG-AH0 L-AA1 T-AH1-V K-AA1-N T-EH0-N T-AH0-N D-AY1 HH-AE1 V-AH0-N-T B-IH1 N-AH0 F-R-EY1-D T-UW1 B-IY1 L-AY1 K-AY1 D-AA1-N T-N-OW1


so, i did get a lot of positive feedback from bitcoin in the beltway. like stephanie said, there were a lot more female speakers. someone actually crunched the numbers on and told me they were like

S-OW1 AY1 D-IH1-D G-EH1 T-AH0 L-AA1 T-AH1-V P-AA1 Z-AH0 T-IH0-V F-IY1-D B-AE2-K F-R-AH1-M B-IH1-T K-AH0 N-IH0-N DH-AH0 B-EH1-L T-W-EY2 L-AY1-K-S T-EH1 F-AH0 N-IY0 S-EH1-D DH-EH1 R-W-ER0 AH0 L-AA1 T-M-AO1-R F-IY1 M-EY2-L-S P-IY1 K-ER0-Z S-AH1 M-W-AH2 N-AE1-K CH-AH0 W-AH0 L-IY0 K-R-AH1-N-CH-T DH-AH0 N-AH1-M B-ER0 Z-AA1 N-AH0-N-D T-OW1-L D-M-IY1 DH-EY1 W-ER0 L-AY1-K


and i think that silk road helped a lot of people. i mean, obviously it's known for some of the darker elements, but it did also help a lot of people and reduced-

AH0-N D-AY1 TH-IH1-NG-K DH-AE1-T S-IH1-L K-R-OW1-D HH-EH1-L-P T-AH0 L-AA1 T-AH1-V P-IY1 P-AH0 L-AY1 M-IY1 N-AA1-B V-IY0 AH0 S-L-IY0 IH1-T S-N-OW1-N F-AO1-R S-AH1 M-AH1-V DH-AH0 D-AA1-R K-ER0 EH1 L-AH0 M-AH0-N-T-S B-AH1 T-IH1-T D-IH1 D-AO1-L S-OW0 HH-EH1-L P-AH0 L-AA1 T-AH1-V P-IY1 P-AH0 L-AH0-N D-R-AH0 D-UW1-S-T


worked really well. the iphone has not been kind. but i guess, they just put coinbase at back on it.

W-ER1-K T-R-IH1 L-IY0 W-EH1-L DH-AH0 IH1 F-OW0-N HH-AE1 Z-N-AA1-T B-IH1-N K-AY1-N-D B-AH1 T-AY1 G-EH1-S DH-EY1 JH-AH1-S-T P-UH1-T K-OY1-N B-OW2 Z-AE1-T B-AE1 K-AA1 N-IH1-T


but aside from that,


i think of it more as an ideological thing that i consider.

AY1 TH-IH1-NG K-AH1 V-IH1 T-M-AO1 R-AE1 Z-AE1 N-AY2 D-IY0 AH0 L-AA1 JH-IH0 K-AH0-L TH-IH1-NG DH-AE1 T-AY1 K-AH0-N S-IH1 D-ER0


well, as far as a job of fighting the federal government is definitely a full-time job and

W-EH1 L-AE1-Z F-AA1 R-AE1 Z-AH0 JH-AA1 B-AH1-V F-AY1 T-IH0-NG DH-AH0 F-EH1 D-ER0 AH0-L G-AH1 V-ER0 M-AH0-N T-IH1-Z D-EH1 F-AH0 N-AH0 T-L-IY0 AH0 F-UH1-L T-AY2-M JH-AA1 B-AH0-N-D


actually have criminal intent. and so it's a lot ...

AE1-K CH-AH0 W-AH0 L-IY0 HH-AE1-V K-R-IH1 M-AH0 N-AH0 L-IH0-N T-EH1-N T-AH0-N-D S-OW1 IH1-T S-AH0 L-AA1-T


so, it's very impactful for digital currency. and i can go on about it. i

S-OW1 IH1-T-S V-EH1 R-IY0 IH0-M P-AE1-K T-AH0-F F-AO1-R D-IH1 JH-AH0 T-AH0-L K-ER1 AH0-N S-IY0 AH0-N D-AY1 K-AE1-N G-OW1 AA1 N-AH0 B-AW1 T-IH1 T-AY1


wanted to say that this is what's going on here.

W-AA1-N T-AH0-D T-UW1 S-EY1 DH-AE1-T DH-IH1 S-IH1 Z-W-AH0-T-S G-OW1 IH0 NG-AA1-N HH-IY1-R


yep. redefining the definitions of words all over the place. that's kind of what they do best. and i appreciate you bringing that to light lyn because i wasn't aware of it.

Y-EH1 P-R-IY0 D-IH0 F-AY1 N-IH0-NG DH-AH0 D-EH2 F-AH0 N-IH1 SH-AH0-N Z-AH1 V-W-ER1-D Z-AO1 L-OW1 V-ER0 DH-AH0 P-L-EY1-S TH-AE1-T-S K-AY1-N D-AH1 V-W-AH1-T DH-EY1 D-UW1 B-EH1-S T-AH0-N D-AY1 AH0 P-R-IY1 SH-IY0 EY2 T-Y-UW1 B-R-IH1 NG-IH0-NG DH-AE1-T T-UW1 L-AY1 T-L-IH1-N B-IH0 K-AO1 Z-AY1 W-AO1-S T-AH0 W-EH1 R-AH1 V-IH1-T


in some environments, but doesn't have all the attributes of real currency,

IH0-N S-AH1 M-IH0-N V-AY1 R-AH0-N M-AH0-N-T-S B-AH1-T D-OW1 S-AH0-N-T HH-AE1 V-AO1-L DH-AH0 AE1 T-R-IH0 B-Y-UW0-T S-AH1 V-R-IY1-L K-ER1 AH0-N S-IY0


instead of going, if they want a law that fits, they need to go to the legislature.

IH0-N-S T-EH1 D-AH1-V G-OW1 IH0 NG-IH1-F DH-EY1 W-AA1-N T-AH0 L-AO1 DH-AE1-T F-IH1-T-S DH-EY1 N-IY1-D T-UW1 G-OW1 T-UW1 DH-AH0 L-EH1 JH-AH0 S-L-EY2 CH-ER0


good and that's what i'd like to see happen. and i think the price is probably going to go up.

G-UH1 D-AH0-N-D TH-AE1-T S-W-AH1 T-IH1 D-L-AY1-K T-UW1 S-IY1 HH-AE1 P-AH0 N-AH0-N D-AY1 TH-IH1-NG-K DH-AH0 P-R-AY1 S-IH1-Z P-R-AA1 B-AH0 B-L-IY0 G-OW1 IH0-NG T-UW1 G-OW1 AH1-P


[inaudible] like tatiana coin, i mean it's supporting artists. you can have a wide variety of cryptocurrencies to use it. i think it's going-

IH0 N-AO1 D-AH0 B-AH0-L L-AY1-K T-AE2 T-IY2 AE1 N-AH0 K-OY1 N-AY1 M-IY1 N-IH1-T-S S-AH0 P-AO1-R T-IH0 NG-AA1-R T-AH0-S-T S-Y-UW1 K-AE1-N HH-AE1 V-AH0 W-AY1-D V-ER0 AY1 AH0 T-IY0 AH1-V K-R-IH1-P K-AH0 Y-ER2 AH0 S-N-IY0-Z T-UW1 Y-UW1 Z-IH1 T-AY1 TH-IH1-NG K-IH1-T-S G-OW1 IH0-NG


i think it's hard to predict. i certainly hope that-

AY1 TH-IH1-NG K-IH1-T-S HH-AA1-R-D T-UW1 P-R-IH0 D-IH1-K T-AY1 S-ER1 T-AH0 N-L-IY0 HH-OW1-P DH-AE1-T


i mean, i'm not going to sit here and people say that you kind of like coined the term bitlicense. i don't know who coined that term, but i mean, it was in

AY1 M-IY1 N-IH1-M N-AA1-T G-OW1 IH0-NG T-UW1 S-IH1-T HH-IY1 R-AH0-N-D P-IY1 P-AH0-L S-EY1 DH-AE1 T-Y-UW1 K-AY1-N D-AH1 V-L-AY1-K K-OY1-N-D DH-AH0 T-ER1-M B-IH1 T-L-IH1 S-AH0 N-AY1 D-AA1-N T-N-OW1 HH-UW1 K-OY1-N-D DH-AE1-T T-ER1-M B-AH1 T-AY1 M-IY1 N-IH1 T-W-AA1 Z-IH0-N


tapping with incoming space now. if the bitlicense as it is currently active

T-AE1 P-IH0 NG-W-IH1 DH-IH1-N K-AH2 M-IH0-NG-S P-EY1 S-N-AW1 IH1-F DH-AH0 B-IH1 T-L-IH1 S-AH0 N-AE1 Z-IH1 T-IH1-Z K-ER1 AH0-N T-L-IY0 AE1-K T-IH0-V


had no way to kind of sprinkle information around and then all of a sudden, the printing press comes along. and with the avenue of the printing press, all of a sudden someone can have these ideas.

HH-AE1 D-N-OW1 W-EY1 T-UW1 K-AY1-N D-AH1-V-S P-R-IH1-NG K-AH0 L-IH2-N F-ER0 M-EY1 SH-AH0 N-ER0 AW1-N D-AH0-N-D DH-EH1 N-AO1 L-AH1 V-AH0 S-AH1 D-AH0-N DH-AH0 P-R-IH1-N T-IH0-NG P-R-EH1-S K-AH1-M Z-AH0 L-AO1 NG-AH0-N D-W-IH1-DH DH-AH0 AE1 V-AH0 N-UW2 AH1-V DH-AH0 P-R-IH1-N T-IH0-NG P-R-EH1 S-AO1 L-AH1 V-AH0 S-AH1 D-AH0-N S-AH1 M-W-AH2-N K-AE1-N HH-AE1-V DH-IY1 Z-AY0 D-IY1 AH0-Z


that are looking at my credit card statement, the credit card company, the credit companies, the banks.

DH-AE1 T-AA1-R L-UH1 K-IH0 NG-AE1 T-M-AY1 K-R-EH1 D-AH0-T K-AA1-R-D-S T-EY1 T-M-AH0-N-T DH-AH0 K-R-EH1 D-AH0-T K-AA1-R-D K-AH1-M P-AH0 N-IY0 DH-AH0 K-R-EH1 D-AH0-T K-AH1-M P-AH0 N-IY0-Z DH-AH0 B-AE1-NG-K-S


which, the thing which really seems to be a media show.

W-IH1-CH DH-AH0 TH-IH1 NG-W-IH1 CH-R-IH1 L-IY0 S-IY1-M-Z T-UW1 B-IY1 AH0 M-IY1 D-IY0 AH0 SH-OW1


it's just, bc is one, there are, others are actually just shutting down

IH1-T-S JH-AH1-S-T B-IY1 EH1 S-IH1 Z-W-AH1-N DH-EH1 R-AA1 R-AH1 DH-ER0 Z-AA1 R-AE1-K CH-AH0 W-AH0 L-IY0 JH-AH1-S-T SH-AH1 T-IH0-NG D-AW1-N


lock, stock and barrel and all around the world. and it's not

L-AA1-K-S T-AA1 K-AH0-N-D B-AE1 R-AH0 L-AH0-N D-AO1 L-ER0 AW1-N-D DH-AH0 W-ER1-L D-AH0-N D-IH1-T S-N-AA1-T


because they're like they do a cost benefit analysis and the profitability of the account

B-IH0 K-AO1-Z TH-EH1-R L-AY1-K DH-EY1 D-UW1 AH0 K-AA1-S-T B-EH1 N-AH0 F-IH0 T-AH0 N-AE1 L-AH0 S-AH0 S-AH0-N-D DH-AH0 P-R-AA2 F-IH0 T-AH0 B-IH1 L-IH0 T-IY0 AH1-V DH-AH0 AH0 K-AW1-N-T


gets bounced down and ripple. and these protocols totally take the need to chop

G-EH1-T-S B-AW1-N-S-T D-AW1 N-AH0-N D-R-IH1 P-AH0 L-AH0-N-D DH-IY1-Z P-R-OW1 T-AH0 K-AO2-L-Z T-OW1 T-AH0 L-IY0 T-EY1-K DH-AH0 N-IY1-D T-UW1 CH-AA1-P


was bitcoin. at the time i gave it to them. they refunded it to me in bitcoin. and it was about a 50% loss on the bitcoin that i had put in at the time. so, that pretty much

W-AA1-Z B-IH1-T K-AH0 N-AE1-T DH-AH0 T-AY1 M-AY1 G-EY1 V-IH1-T T-UW1 DH-EH1-M DH-EY1 R-IH0 F-AH1-N D-IH0 D-IH1-T T-UW1 M-IY1 IH0-N B-IH1-T K-AH0 N-AH0-N D-IH1 T-W-AA1 Z-AH0 B-AW1 T-AH0 F-IH1-F T-IY0 P-ER0 S-EH1-N T-L-AO1 S-AA1-N DH-AH0 B-IH1-T K-AH0-N DH-AE1 T-AY1 HH-AE1-D P-UH1 T-IH0 N-AE1-T DH-AH0 T-AY1-M S-OW1 DH-AE1-T P-R-IH1 T-IY0 M-AH1-CH


did a good job of scaring me away from mining under most circumstances.

D-IH1 D-AH0 G-UH1-D JH-AA1 B-AH1-V-S K-EH1 R-IH0-NG M-IY1 AH0 W-EY1 F-R-AH1-M M-AY1 N-IH0 NG-AH1-N D-ER0 M-OW1-S-T S-ER1 K-AH0-M-S T-AE2-N S-AH0-Z


we periodically receive emails, asking for guidance on mining specifically, this comes from new users who hear that, oh well it's bitcoin and you can actually just use your computer to mine it, and that was true. at one point,

W-IY1 P-IY2 R-IY0 AA1 D-IH0 K-AH0 L-IY0 R-AH0 S-IY1 V-IY0 M-EY1-L Z-AE1-S K-IH0-NG F-AO1-R G-AY1 D-AH0-N S-AA1-N M-AY1 N-IH0-NG-S P-AH0 S-IH1 F-IH0 K-L-IY0 DH-IH1-S K-AH1-M-Z F-R-AH1-M N-UW1 Y-UW1 Z-ER0-Z HH-UW1 HH-IY1-R DH-AE1 T-OW1 W-EH1 L-IH1-T-S B-IH1-T K-AH0 N-AH0-N D-Y-UW1 K-AE1 N-AE1-K CH-AH0 W-AH0 L-IY0 JH-AH1-S T-Y-UW1 Z-Y-AO1-R K-AH0-M P-Y-UW1 T-ER0 T-UW1 M-AY1 N-IH1 T-AH0-N-D DH-AE1 T-W-AA1-Z T-R-UW1 AE1 T-W-AH1-N P-OY1-N-T


in an email yesterday, we heard from a listener wanting to know about a cloud mining company that they were interested in.

IH0 N-AE1 N-IY0 M-EY1 L-Y-EH1-S T-ER0 D-EY2 W-IY1 HH-ER1-D F-R-AH1 M-AH0 L-IH1 S-AH0 N-ER0 W-AA1-N T-IH0-NG T-UW1 N-OW1 AH0 B-AW1 T-AH0 K-L-AW1 D-M-AY1 N-IH0-NG K-AH1-M P-AH0 N-IY0 DH-AE1-T DH-EY1 W-ER0 IH1-N T-R-AH0-S T-AH0 D-IH0-N


i hadn't heard of the one that they mentioned. so i gave kind of my generic answer that mining by itself is exponentially more risky

AY1 HH-AE1 D-AH0-N-T HH-ER1 D-AH1-V DH-AH0 W-AH1-N DH-AE1-T DH-EY1 M-EH1-N SH-AH0-N-D S-OW1 AY1 G-EY1-V K-AY1-N D-AH1 V-M-AY1 JH-AH0 N-EH1 R-IH0 K-AE1-N S-ER0 DH-AE1 T-M-AY1 N-IH0-NG B-AY1 IH0-T S-EH1-L F-IH1 Z-EH2-K-S P-OW0 N-EH1-N SH-AH0 L-IY0 M-AO1-R R-IH1-S K-IY0


and dangerous than bitcoin because it has all the variables of bitcoin that can go against you. but it also has other variables like mining difficulty that you also don't control.

AH0-N-D D-EY1-N JH-ER0 AH0-S DH-AE1-N B-IH1-T K-AH0-N B-IH0 K-AO1 Z-IH1-T HH-AE1 Z-AO1-L DH-AH0 V-EH1 R-IY0 AH0 B-AH0-L Z-AH1-V B-IH1-T K-AH0-N DH-AE1-T K-AE1-N G-OW1 AH0 G-EH1-N-S T-Y-UW1 B-AH1 T-IH1 T-AO1-L S-OW0 HH-AE1 Z-AH1 DH-ER0 V-EH1 R-IY0 AH0 B-AH0-L Z-L-AY1 K-M-AY1 N-IH0-NG D-IH1 F-AH0 K-AH0-L T-IY0 DH-AE1 T-Y-UW1 AO1-L S-OW0 D-AA1-N-T K-AH0-N T-R-OW1-L


stephanie. this is the first thing that i hear most times talking to people new to bitcoin. how do i mind?

S-T-EH1 F-AH0 N-IY0 DH-IH1 S-IH1-Z DH-AH0 F-ER1-S-T TH-IH1-NG DH-AE1 T-AY1 HH-IY1-R M-OW1-S-T T-AY1-M-Z T-AO1 K-IH0-NG T-UW1 P-IY1 P-AH0-L N-UW1 T-UW1 B-IH1-T K-AH0-N HH-AW1 D-UW1 AY1 M-AY1-N-D


i know that you've played with all, some and that you've played around with that kind of mining scene, just for fun.

AY1 N-OW1 DH-AE1 T-Y-UW1-V P-L-EY1 D-W-IH1 DH-AO1-L S-AH1 M-AH0-N-D DH-AE1 T-Y-UW1-V P-L-EY1 D-ER0 AW1-N D-W-IH1-DH DH-AE1-T K-AY1-N D-AH1 V-M-AY1 N-IH0-NG S-IY1-N JH-AH1-S-T F-AO1-R F-AH1-N


what was that experience like? and is there anything to it anymore?

W-AH1 T-W-AA1-Z DH-AE1 T-IH0-K-S P-IH1 R-IY0 AH0-N S-L-AY1 K-AH0-N D-IH1-Z DH-EH1 R-EH1 N-IY0 TH-IH2-NG T-UW1 IH1 T-EH2 N-IY0 M-AO1-R


no, i'm not. i wouldn't recommend that anyone else do it either.

N-OW1 IH1-M N-AA1 T-AY1 W-UH1 D-L-AH0-N T-R-EH2 K-AH0 M-EH1-N-D DH-AE1 T-EH1 N-IY0 W-AH2 N-EH1-L-S D-UW1 IH1 T-IY1 DH-ER0


very early on like 2009, 2010, stuff like that.

V-EH1 R-IY0 ER1 L-IY0 AA1 N-L-AY1-K T-UW1 TH-AW1 Z-AH0-N D-N-AY1-N T-W-EH1-N T-IY0 T-EH1-N-S T-AH1 F-L-AY1-K DH-AE1-T


nevermind. i won't tell that story, but there are just all these stories of people going to crazy lengths to mine bitcoins early on.

N-EH1 V-ER0 M-AY2-N D-AY1 W-OW1-N-T T-EH1-L DH-AE1-T-S T-AO1 R-IY0 B-AH1-T DH-EH1 R-AA1-R JH-AH1-S T-AO1-L DH-IY1-Z-S T-AO1 R-IY0 Z-AH1-V P-IY1 P-AH0-L G-OW1 IH0-NG T-UW1 K-R-EY1 Z-IY0 L-EH1-NG-K-TH-S T-UW1 M-AY1-N B-IH1-T K-AW2-N Z-ER1 L-IY0 AA1-N


to buy bitcoin and they probably could have bought more bitcoin with it and they still would have been successful because that's just speculation.

T-UW1 B-AY1 B-IH1-T K-AH0 N-AH0-N-D DH-EY1 P-R-AA1 B-AH0 B-L-IY0 K-UH1-D HH-AE1-V B-AA1 T-M-AO1-R B-IH1-T K-AH0 N-W-IH1 DH-IH1 T-AH0-N-D DH-EY1-S T-IH1 L-W-UH1-D HH-AE1-V B-IH1-N S-AH0-K S-EH1-S F-AH0-L B-IH0 K-AO1-Z TH-AE1-T-S JH-AH1-S-T-S P-EH2 K-Y-AH0 L-EY1 SH-AH0-N


and a lot of the people who were successful in mining early on were also speculating on the bitcoin that they mined by holding onto it. and that's where it really paid off

AH0-N D-AH0 L-AA1 T-AH1-V DH-AH0 P-IY1 P-AH0-L HH-UW1 W-ER0 S-AH0-K S-EH1-S F-AH0 L-IH0-N M-AY1 N-IH0 NG-ER1 L-IY0 AA1 N-W-ER0 AO1-L S-OW0-S P-EH1 K-Y-AH0 L-EY2 T-IH0 NG-AA1-N DH-AH0 B-IH1-T K-AH0-N DH-AE1-T DH-EY1 M-AY1-N-D B-AY1 HH-OW1-L D-IH0 NG-AA1-N T-UW0 IH1 T-AH0-N-D TH-AE1-T S-W-EH1 R-IH1 T-R-IH1 L-IY0 P-EY1 D-AO1-F


for those who don't know how it works. i can give my best laypersons explanation.

F-AO1-R DH-OW1-Z HH-UW1 D-AA1-N T-N-OW1 HH-AW1 IH1 T-W-ER1-K S-AY1 K-AE1-N G-IH1 V-M-AY1 B-EH1-S T-L-EY1 P-ER0 S-AH0-N Z-EH2-K-S P-L-AH0 N-EY1 SH-AH0-N


and what they're trying to find is a solution, a hash, a math problem,

AH0-N D-W-AH1-T TH-EH1-R T-R-AY1 IH0-NG T-UW1 F-AY1-N D-IH1 Z-AH0 S-AH0 L-UW1 SH-AH0 N-AH0 HH-AE1 SH-AH0 M-AE1-TH P-R-AA1 B-L-AH0-M


a number that comes out to be a very improbable thing,

AH0 N-AH1-M B-ER0 DH-AE1-T K-AH1-M Z-AW1-T T-UW1 B-IY1 AH0 V-EH1 R-IY0 IH0-M P-R-AA1 B-AH0 B-AH0-L TH-IH1-NG


gets a random number that they're looking for and they want to have that number, meet some specific criteria.

G-EH1-T S-AH0 R-AE1-N D-AH0-M N-AH1-M B-ER0 DH-AE1-T TH-EH1-R L-UH1 K-IH0-NG F-AO1 R-AH0-N-D DH-EY1 W-AA1-N-T T-UW1 HH-AE1-V DH-AE1 T-N-AH1-M B-ER0 M-IY1-T S-AH1-M-S P-AH0 S-IH1 F-IH0-K K-R-AY0 T-IH1 R-IY0 AH0


like let's say it's less than a million or something like that, or less than 10,000, or it starts with a string of like eight leading zeros.

L-AY1 K-L-EH1-T-S S-EY1 IH1-T S-L-EH1-S DH-AE1 N-AH0 M-IH1 L-Y-AH0 N-AO1-R S-AH1-M TH-IH0 NG-L-AY1-K DH-AE1 T-AO1-R L-EH1-S DH-AE1-N T-EH1-N TH-AW1 Z-AH0-N D-AO1 R-IH1-T-S T-AA1-R-T S-W-IH1 DH-AH0-S T-R-IH1 NG-AH1 V-L-AY1 K-EY1 T-L-IY1 D-IH0-NG Z-IH1 R-OW0-Z


that's very improbable when you're just guessing random numbers. so, they have to,

TH-AE1-T-S V-EH1 R-IY0 IH0-M P-R-AA1 B-AH0 B-AH0 L-W-EH1 N-Y-UH1-R JH-AH1-S-T G-EH1 S-IH0 NG-R-AE1-N D-AH0-M N-AH1-M B-ER0-Z S-OW1 DH-EY1 HH-AE1-V T-UW1


and the difficulty of those guesses goes up as more miners, jump into the pool

AH0-N-D DH-AH0 D-IH1 F-AH0 K-AH0-L T-IY0 AH1-V DH-OW1-Z G-EH1 S-AH0-Z G-OW1 Z-AH1 P-AE1 Z-M-AO1-R M-AY1 N-ER0-Z JH-AH1-M P-IH0-N T-UW1 DH-AH0 P-UW1-L


to make it so that a solution is found about every 10 minutes.

T-UW1 M-EY1 K-IH1-T S-OW1 DH-AE1 T-AH0 S-AH0 L-UW1 SH-AH0 N-IH1-Z F-AW1-N D-AH0 B-AW1 T-EH1 V-ER0 IY0 T-EH1-N M-IH1 N-AH0-T-S


when a miner finds a solution, they get to author a block.

W-EH1 N-AH0 M-AY1 N-ER0 F-AY1-N-D Z-AH0 S-AH0 L-UW1 SH-AH0-N DH-EY1 G-EH1-T T-UW1 AO1 TH-ER0 AH0 B-L-AA1-K


and as a reward for doing that as an incentive to keep writing the blockchain,

AH0-N D-AE1 Z-AH0 R-IH0 W-AO1-R-D F-AO1-R D-UW1 IH0-NG DH-AE1 T-AE1 Z-AE1 N-IH0-N S-EH1-N T-IH0-V T-UW1 K-IY1 P-R-AY1 T-IH0-NG DH-AH0 B-L-AA1-K HH-EY2-N


they get a block reward, which at this point is 25 bitcoins per block. it used to be 50.

DH-EY1 G-EH1 T-AH0 B-L-AA1 K-R-IH0 W-AO1-R D-W-IH1 CH-AE1-T DH-IH1-S P-OY1-N T-IH1-Z T-W-EH1-N T-IY0 F-AY1-V B-IH1-T K-AW2-N-Z P-ER1 B-L-AA1 K-IH1 T-Y-UW1-S-T T-UW1 B-IY1 F-IH1-F T-IY0


and most of the people that i know who ever mined jumped in when it was 50,

AH0-N D-M-OW1-S T-AH1-V DH-AH0 P-IY1 P-AH0-L DH-AE1 T-AY1 N-OW1 HH-UW1 EH1 V-ER0 M-AY1-N-D JH-AH1-M-P T-IH0 N-W-EH1 N-IH1 T-W-AA1-Z F-IH1-F T-IY0


i knew one guy who was finding blocks by himself with just his computer cpu. this is probably back in 2009.

AY1 N-UW1 W-AH1-N G-AY1 HH-UW1 W-AA1-Z F-AY1-N D-IH0-NG B-L-AA1-K-S B-AY1 HH-IH0-M S-EH1-L F-W-IH1-DH JH-AH1-S-T HH-IH1-Z K-AH0-M P-Y-UW1 T-ER0 K-UW1 DH-IH1 S-IH1-Z P-R-AA1 B-AH0 B-L-IY0 B-AE1 K-IH0-N T-UW1 TH-AW1 Z-AH0-N D-N-AY1-N


that was how little bitcoins were worth at the time.

DH-AE1 T-W-AA1-Z HH-AW1 L-IH1 T-AH0-L B-IH1-T K-AW2-N Z-W-ER0 W-ER1 TH-AE1-T DH-AH0 T-AY1-M


and if you were thinking short term back in the day, when it was kind of feasible to mine bitcoins as an individual,

AH0-N D-IH1 F-Y-UW1 W-ER0 TH-IH1-NG K-IH0-NG SH-AO1-R-T T-ER1-M B-AE1 K-IH0-N DH-AH0 D-EY1 W-EH1 N-IH1 T-W-AA1-Z K-AY1-N D-AH1-V F-IY1 Z-AH0 B-AH0-L T-UW1 M-AY1-N B-IH1-T K-AW2-N Z-AE1 Z-AE1 N-IH2-N D-AH0 V-IH1 JH-AH0 W-AH0-L


everybody would just be going for the bitcoins really, and it would lose its purpose.

EH1 V-R-IY0 B-AA2 D-IY0 W-UH1-D JH-AH1-S-T B-IY1 G-OW1 IH0-NG F-AO1-R DH-AH0 B-IH1-T K-AW2-N Z-R-IH1 L-IY0 AH0-N D-IH1 T-W-UH1 D-L-UW1 Z-IH1-T-S P-ER1 P-AH0-S


it's never really profitable in the short term to mine,

IH1-T S-N-EH1 V-ER0 R-IH1 L-IY0 P-R-AA1 F-AH0 T-AH0 B-AH0 L-IH0-N DH-AH0 SH-AO1-R-T T-ER1-M T-UW1 M-AY1-N


of having the chance to basically speculate on bitcoin really early on. and that's what paid off for them.

AH1-V HH-AE1 V-IH0-NG DH-AH0 CH-AE1-N-S T-UW1 B-EY1 S-IH0 K-L-IY0-S P-EH1 K-Y-AH0 L-EY2 T-AA1-N B-IH1-T K-AH0 N-R-IH1 L-IY0 ER1 L-IY0 AA1 N-AH0-N-D TH-AE1-T S-W-AH1-T P-EY1 D-AO1-F F-AO1-R DH-EH1-M


originally, you asked adam about, was i still mining?

ER0 IH1 JH-AH0 N-AH0 L-IY0 Y-UW1 AE1-S-K T-AE1 D-AH0 M-AH0 B-AW1 T-W-AA1 Z-AY1-S T-IH1-L M-AY1 N-IH0-NG


and that was one of the only all coins that was available at the time.

AH0-N-D DH-AE1 T-W-AA1 Z-W-AH1 N-AH1-V DH-AH0 OW1 N-L-IY0 AO1-L K-OY1-N-Z DH-AE1 T-W-AA1 Z-AH0 V-EY1 L-AH0 B-AH0 L-AE1-T DH-AH0 T-AY1-M


i built a computer with a couple of graphics cards

AY1 B-IH1-L T-AH0 K-AH0-M P-Y-UW1 T-ER0 W-IH1 DH-AH0 K-AH1 P-AH0 L-AH1-V G-R-AE1 F-IH0-K-S K-AA1-R-D-Z


and a lot of them burned out in the process probably cause i wasn't cooling it effectively because the power supply was not quite matched to what the computer needed

AH0-N D-AH0 L-AA1 T-AH1-V DH-EH1-M B-ER1-N D-AW1 T-IH0-N DH-AH0 P-R-AA1 S-EH2-S P-R-AA1 B-AH0 B-L-IY0 K-AA1 Z-AY1 W-AO1-S-T K-UW1 L-IH0 NG-IH1 T-IH0 F-EH1-K T-IH0 V-L-IY0 B-IH0 K-AO1-Z DH-AH0 P-AW1 ER0 S-AH0 P-L-AY1 W-AA1 Z-N-AA1-T K-W-AY1 T-M-AE1-CH-T T-UW1 W-AH1-T DH-AH0 K-AH0-M P-Y-UW1 T-ER0 N-IY1 D-AH0-D


amateur miners make, but it was really fun. it was just, it was fun to participate in that and just see how it worked.

AE1 M-AH0 T-ER2 M-AY1 N-ER0 Z-M-EY1-K B-AH1 T-IH1 T-W-AA1 Z-R-IH1 L-IY0 F-AH1 N-IH1 T-W-AA1-Z JH-AH1-S T-IH1 T-W-AA1-Z F-AH1-N T-UW1 P-AA0-R T-IH1 S-AH0 P-EY2 T-IH0-N DH-AE1 T-AH0-N-D JH-AH1-S-T S-IY1 HH-AW1 IH1 T-W-ER1-K-T


i made enough light coin to pay off the investment that i made in building this computer,

AY1 M-EY1 D-IH0 N-AH1 F-L-AY1-T K-OY1-N T-UW1 P-EY1 AO1-F DH-AH0 IH0-N V-EH1-S T-M-AH0-N-T DH-AE1 T-AY1 M-EY1 D-IH0-N B-IH1-L D-IH0-NG DH-IH1-S K-AH0-M P-Y-UW1 T-ER0


but also with a lot of electricity, i'm not sure that i broke even on the electricity.

B-AH1 T-AO1-L S-OW0 W-IH1 DH-AH0 L-AA1 T-AH1 V-IH0 L-EH2-K T-R-IH1 S-AH0 T-IY0 IH1-M N-AA1-T SH-UH1-R DH-AE1 T-AY1 B-R-OW1 K-IY1 V-IH0 N-AA1-N DH-AH0 IH0 L-EH2-K T-R-IH1 S-AH0 T-IY0


it was basically like increasing my power bill quite a bit.

IH1 T-W-AA1-Z B-EY1 S-IH0 K-L-IY0 L-AY1 K-IH0-N K-R-IY1 S-IH0-NG M-AY1 P-AW1 ER0 B-IH1-L K-W-AY1 T-AH0 B-IH1-T


but i guess maybe at one point i had some hope or illusion that maybe i would make a profit, but that wasn't really how it turned out.

B-AH1 T-AY1 G-EH1 S-M-EY1 B-IY0 AE1 T-W-AH1-N P-OY1-N T-AY1 HH-AE1-D S-AH1-M HH-OW1 P-AO1 R-IH0 L-UW1 ZH-AH0-N DH-AE1 T-M-EY1 B-IY0 AY1 W-UH1 D-M-EY1 K-AH0 P-R-AA1 F-AH0-T B-AH1-T DH-AE1 T-W-AO1-S T-R-IH1 L-IY0 HH-AW1 IH1-T T-ER1-N D-AW1-T


so i you're actually you've reminded me the one time that i did mind besides that was the proton shares launch, which originally was built if you remember, as the cpu minable thing. so it was the thing that was going to

S-OW1 AY1 Y-UH1 R-AE1-K CH-AH0 W-AH0 L-IY0 Y-UW1 V-R-IY0 M-AY1-N D-AH0 D-M-IY1 DH-AH0 W-AH1-N T-AY1-M DH-AE1 T-AY1 D-IH1 D-M-AY1-N-D B-IH0 S-AY1-D-Z DH-AE1 T-W-AA1-Z DH-AH0 P-R-OW1 T-AA2-N SH-EH1-R Z-L-AO1-N CH-W-IH1 CH-ER0 IH1 JH-AH0 N-AH0 L-IY0 W-AA1-Z B-IH1-L T-IH1 F-Y-UW1 R-IH0 M-EH1-M B-ER0 AE1-Z DH-AH0 K-UW1 M-AY1 N-AH0 B-AH0-L TH-IH1-NG S-OW1 IH1 T-W-AA1-Z DH-AH0 TH-IH1-NG DH-AE1 T-W-AA1-Z G-OW1 IH0-NG T-UW1


return an equal spread, a distribution that didn't take into account the big asic manufacturing ownership and all that jazz.

R-IH0 T-ER1 N-AE1 N-IY1 K-W-AH0-L-S P-R-EH1 D-AH0 D-IH2-S T-R-AH0 B-Y-UW1 SH-AH0-N DH-AE1-T D-IH1 D-AH0-N-T T-EY1 K-IH0-N T-UW1 AH0 K-AW1-N-T DH-AH0 B-IH1 G-AE1 Z-IH0 K-M-AE2 N-Y-AH0 F-AE1-K CH-ER0 IH0 NG-OW1 N-ER0 SH-IH2 P-AH0-N D-AO1-L DH-AE1-T JH-AE1-Z


and then by day four or five, it was too tough that i stopped doing it because it was just bothering my computer and i didn't want to have it on anymore.

AH0-N-D DH-EH1-N B-AY1 D-EY1 F-AO1 R-AO1-R F-AY1 V-IH1 T-W-AA1-Z T-UW1 T-AH1-F DH-AE1 T-AY1-S T-AA1-P-T D-UW1 IH0 NG-IH1-T B-IH0 K-AO1 Z-IH1 T-W-AA1-Z JH-AH1-S-T B-AA1 DH-ER0 IH0-NG M-AY1 K-AH0-M P-Y-UW1 T-ER0 AH0-N D-AY1 D-IH1 D-AH0-N T-W-AA1-N-T T-UW1 HH-AE1 V-IH1 T-AA1 N-EH2 N-IY0 M-AO1-R


yeah. in fact didn't well, at the time they were invictus, but didn't dan larimer,

Y-AE1 IH0-N F-AE1-K-T D-IH1 D-AH0-N T-W-EH1 L-AE1-T DH-AH0 T-AY1-M DH-EY1 W-ER0 IH0-N V-IH1-T K-AH0-S B-AH1-T D-IH1 D-AH0-N-T D-AE1 N-L-AE1 R-IH0 M-ER0


frodo shares. but then by the time they actually received them, they were basically obsolete because someone had kind of cracked the algorithm and it wasn't worth it anymore.

F-R-OW1 D-OW0 SH-EH1-R-Z B-AH1-T DH-EH1-N B-AY1 DH-AH0 T-AY1-M DH-EY1 AE1-K CH-AH0 W-AH0 L-IY0 R-AH0 S-IY1-V-D DH-EH1-M DH-EY1 W-ER0 B-EY1 S-IH0 K-L-IY0 AA1-B S-AH0 L-IY2-T B-IH0 K-AO1-Z S-AH1 M-W-AH2-N HH-AE1-D K-AY1-N D-AH1-V K-R-AE1-K-T DH-AH0 AE1-L G-ER0 IH2 DH-AH0 M-AH0-N D-IH1 T-W-AO1-S T-W-ER1 TH-IH1 T-EH2 N-IY0 M-AO1-R


it wasn't that anyone who cracked the algorithm, it's just that there's this really hard problem

IH1 T-W-AO1-S-T DH-AE1 T-EH1 N-IY0 W-AH2-N HH-UW1 K-R-AE1-K-T DH-AH0 AE1-L G-ER0 IH2 DH-AH0 M-IH1-T-S JH-AH1-S-T DH-AE1-T DH-EH1-R-Z DH-IH1 S-R-IH1 L-IY0 HH-AA1-R-D P-R-AA1 B-L-AH0-M


between having something that's easy to mine and having something that doesn't scale well for a single person who has some money. i mean, that's the issue is that

B-IH0 T-W-IY1-N HH-AE1 V-IH0-NG S-AH1-M TH-IH0-NG TH-AE1-T S-IY1 Z-IY0 T-UW1 M-AY1 N-AH0-N-D HH-AE1 V-IH0-NG S-AH1-M TH-IH0-NG DH-AE1-T D-OW1 S-AH0-N-T-S K-EY1 L-W-EH1-L F-AO1 R-AH0 S-IH1-NG G-AH0-L P-ER1 S-AH0-N HH-UW1 HH-AE1-Z S-AH1-M M-AH1 N-IY0 AY1 M-IY1-N TH-AE1-T-S DH-AH0 IH1 SH-UW0 IH1-Z DH-AE1-T


regardless of whether it's asics or cpus or whatever,

R-AH0 G-AA1-R D-L-AH0 S-AH1 V-W-EH1 DH-ER0 IH1-T S-AE1 Z-IH0-K S-AO1-R K-AH1 S-AO1 R-W-AH2 T-EH1 V-ER0


it's about the amount of money that you can throw at the problem really much more than anything else.

IH1-T S-AH0 B-AW1-T DH-AH0 AH0 M-AW1-N T-AH1 V-M-AH1 N-IY0 DH-AE1 T-Y-UW1 K-AE1-N TH-R-OW1 AE1-T DH-AH0 P-R-AA1 B-L-AH0 M-R-IH1 L-IY0 M-AH1 CH-M-AO1-R DH-AE1 N-EH1 N-IY0 TH-IH2 NG-EH1-L-S


stephanie, i remember you did an interview with a new miner, actually. gosh, this must have been about a year ago.

S-T-EH1 F-AH0 N-IY0 AY1 R-IH0 M-EH1-M B-ER0 Y-UW1 D-IH1 D-AE1 N-IH1-N T-ER0 V-Y-UW2 W-IH1 DH-AH0 N-UW1 M-AY1 N-ER0 AE1-K CH-AH0 W-AH0 L-IY0 G-AA1-SH DH-IH1 S-M-AH1-S-T HH-AE1-V B-IH1 N-AH0 B-AW1 T-AH0 Y-IH1 R-AH0 G-OW1


yes, and he was mining on knc minor hardware, which at the time that was really,

Y-EH1 S-AH0-N-D HH-IY1 W-AA1 Z-M-AY1 N-IH0 NG-AA1 N-EH1-N S-IY1 EY1 CH-M-AY1 N-ER0 HH-AA1-R D-W-EH2 R-W-IH1 CH-AE1-T DH-AH0 T-AY1-M DH-AE1 T-W-AA1 Z-R-IH1 L-IY0


but yeah, he bought these expensive machines. he paid like $10,000 for two machines.

B-AH1 T-Y-AE1 HH-IY1 B-AA1-T DH-IY1 Z-IH0-K-S P-EH1-N S-IH0 V-M-AH0 SH-IY1-N-Z HH-IY1 P-EY1 D-L-AY1-K T-EH1-N TH-AW1 Z-AH0-N-D D-AA1 L-ER0-Z F-AO1-R T-UW1 M-AH0 SH-IY1-N-Z


he was really thrilled about that, but it wouldn't have happened if the bitcoin price had not gone up.

HH-IY1 W-AA1 Z-R-IH1 L-IY0 TH-R-IH1-L D-AH0 B-AW1-T DH-AE1-T B-AH1 T-IH1 T-W-UH1 D-L-AH0-N-T HH-AE1-V HH-AE1 P-AH0-N D-IH1-F DH-AH0 B-IH1-T K-AH0-N P-R-AY1-S HH-AE1 D-N-AA1-T G-AO1 N-AH1-P


right. i mean, there's that huge variable of luck. i mean, you described it as a lottery ticket, even beyond the lottery ticket element of just winning the race and getting the bitcoin,

R-AY1 T-AY1 M-IY1-N DH-EH1-R-Z DH-AE1-T HH-Y-UW1-JH V-EH1 R-IY0 AH0 B-AH0 L-AH1 V-L-AH1 K-AY1 M-IY1 N-Y-UW1 D-IH0-S K-R-AY1-B D-IH1 T-AE1 Z-AH0 L-AA1 T-ER0 IY0 T-IH1 K-AH0 T-IY1 V-IH0-N B-IH0 AA1-N-D DH-AH0 L-AA1 T-ER0 IY0 T-IH1 K-AH0 T-EH1 L-AH0 M-AH0-N T-AH1-V JH-AH1-S T-W-IH1 N-IH0-NG DH-AH0 R-EY1 S-AH0-N-D G-EH1 T-IH0-NG DH-AH0 B-IH1-T K-AH0-N


there's also this other thing where the price is just completely out of your control, and if it had gone the other way, then he would have had a very negative experience, but-

DH-EH1-R Z-AO1-L S-OW0 DH-IH1 S-AH1 DH-ER0 TH-IH1 NG-W-EH1-R DH-AH0 P-R-AY1 S-IH1-Z JH-AH1-S-T K-AH0-M P-L-IY1 T-L-IY0 AW1 T-AH1 V-Y-AO1-R K-AH0-N T-R-OW1 L-AH0-N D-IH1 F-IH1-T HH-AE1-D G-AO1-N DH-AH0 AH1 DH-ER0 W-EY1 DH-EH1-N HH-IY1 W-UH1-D HH-AE1-V HH-AE1 D-AH0 V-EH1 R-IY0 N-EH1 G-AH0 T-IH0 V-IH0-K-S P-IH1 R-IY0 AH0-N-S B-AH1-T


he paid for those machines with credit cards that didn't have interest for a year or something like that.

HH-IY1 P-EY1-D F-AO1-R DH-OW1 Z-M-AH0 SH-IY1-N Z-W-IH1-DH K-R-EH1 D-AH0-T K-AA1-R-D-Z DH-AE1-T D-IH1 D-AH0-N-T HH-AE1 V-IH1-N T-R-AH0-S-T F-AO1 R-AH0 Y-IH1 R-AO1-R S-AH1-M TH-IH0 NG-L-AY1-K DH-AE1-T


adam, you were talking about the lottery ticket aspect of mining,

AE1 D-AH0 M-Y-UW1 W-ER0 T-AO1 K-IH0 NG-AH0 B-AW1-T DH-AH0 L-AA1 T-ER0 IY0 T-IH1 K-AH0 T-AE1-S P-EH2-K T-AH1 V-M-AY1 N-IH0-NG


then what you're trying to do is a really herculean task. it's like finding a needle in a haystack.

DH-EH1 N-W-AH1 T-Y-UH1-R T-R-AY1 IH0-NG T-UW1 D-UW1 IH1 Z-AH0 R-IH1 L-IY0 HH-ER0 K-Y-UW1 L-IY0 AH0-N T-AE1-S K-IH1-T S-L-AY1-K F-AY1-N D-IH0 NG-AH0 N-IY1 D-AH0 L-IH0 N-AH0 HH-EY1-S T-AE2-K


you're using your machine to compute these hashes

Y-UH1 R-Y-UW1 Z-IH0 NG-Y-AO1-R M-AH0 SH-IY1-N T-UW1 K-AH0-M P-Y-UW1-T DH-IY1-Z HH-AE1 SH-AH0-Z


and hoping that you get one that comes out in the correct way that will fulfill the requirements to solve the block.

AH0-N-D HH-OW1 P-IH0-NG DH-AE1 T-Y-UW1 G-EH1 T-W-AH1-N DH-AE1-T K-AH1-M Z-AW1 T-IH0-N DH-AH0 K-ER0 EH1-K T-W-EY1 DH-AE1 T-W-IH1-L F-UH0-L F-IH1-L DH-AH0 R-IH0 K-W-AY1-R M-AH0-N-T-S T-UW1 S-AA1-L-V DH-AH0 B-L-AA1-K


the reason mining pools exist is because people want to spread out that risk a little bit. so what they do,

DH-AH0 R-IY1 Z-AH0-N M-AY1 N-IH0-NG P-UW1-L Z-IH0-G Z-IH1-S T-IH1-Z B-IH0 K-AO1-Z P-IY1 P-AH0 L-W-AA1-N-T T-UW1-S P-R-EH1 D-AW1-T DH-AE1 T-R-IH1-S K-AH0 L-IH1 T-AH0-L B-IH1-T S-OW1 W-AH1-T DH-EY1 D-UW1


or you may get lucky and get it the next day, but if you're solo mining, you're always taking that risk of how long are you going to have to play the game before you hit the jackpot,

AO1 R-Y-UW1 M-EY1 G-EH1 T-L-AH1 K-IY0 AH0-N-D G-EH1 T-IH1-T DH-AH0 N-EH1-K-S-T D-EY1 B-AH1 T-IH1 F-Y-UH1-R S-OW1 L-OW2 M-AY1 N-IH0 NG-Y-UH1 R-AO1 L-W-EY2-Z T-EY1 K-IH0-NG DH-AE1 T-R-IH1-S K-AH1-V HH-AW1 L-AO1 NG-AA1 R-Y-UW1 G-OW1 IH0-NG T-UW1 HH-AE1-V T-UW1 P-L-EY1 DH-AH0 G-EY1-M B-IH0 F-AO1 R-Y-UW1 HH-IH1-T DH-AH0 JH-AE1-K P-AA2-T


even though you keep the whole reward yourself versus joining a pool

IY1 V-IH0-N DH-OW1 Y-UW1 K-IY1-P DH-AH0 HH-OW1-L R-IH0 W-AO1-R D-Y-ER0 S-EH1-L-F V-ER1 S-AH0-S JH-OY1 N-IH0 NG-AH0 P-UW1-L


and having that sort of guaranteed, okay, if i put in this much power, i'm going to get this many block rewards back out the other side and it's more of a sure thing.

AH0-N-D HH-AE1 V-IH0-NG DH-AE1-T S-AO1-R T-AH1-V G-EH2 R-AH0-N T-IY1 D-OW2 K-EY1 IH1 F-AY1 P-UH1 T-IH0-N DH-IH1 S-M-AH1-CH P-AW1 ER0 IH1-M G-OW1 IH0-NG T-UW1 G-EH1-T DH-IH1 S-M-EH1 N-IY0 B-L-AA1 K-R-IH0 W-AO1-R-D-Z B-AE1 K-AW1-T DH-AH0 AH1 DH-ER0 S-AY1 D-AH0-N D-IH1-T S-M-AO1 R-AH1 V-AH0 SH-UH1-R TH-IH1-NG


so bitcoin mining is sort of predictably unpredictable. it's kind of what it sounds like. yeah.

S-OW1 B-IH1-T K-AH0-N M-AY1 N-IH0 NG-IH1-Z S-AO1-R T-AH1-V P-R-IH0 D-IH1-K T-AH0 B-L-IY0 AH2-N P-R-IH0 D-IH1-K T-AH0 B-AH0 L-IH1-T-S K-AY1-N D-AH1 V-W-AH1 T-IH1-T S-AW1-N-D Z-L-AY1 K-Y-AE1


but you have no idea when it will actually fall. it's like flipping a coin, like statistically, you should know how it's going to wind up, but

B-AH1 T-Y-UW1 HH-AE1 V-N-OW1 AY0 D-IY1 AH0 W-EH1 N-IH1 T-W-IH1 L-AE1-K CH-AH0 W-AH0 L-IY0 F-AO1 L-IH1-T S-L-AY1-K F-L-IH1 P-IH0 NG-AH0 K-OY1 N-L-AY1-K-S T-AH0 T-IH1-S T-IH0 K-AH0 L-IY0 Y-UW1 SH-UH1 D-N-OW1 HH-AW1 IH1-T-S G-OW1 IH0-NG T-UW1 W-AY1-N D-AH1-P B-AH1-T


cloud miners add like another layer of abstraction on top of that, separating people who are thinking of themselves as miners from the actual work of mining.

K-L-AW1 D-M-AY1 N-ER0 Z-AE1 D-L-AY1 K-AH0 N-AH1 DH-ER0 L-EY1 ER0 AH1 V-AE0-B-S T-R-AE1-K SH-AH0 N-AA1-N T-AA1 P-AH1-V DH-AE1-T S-EH1 P-ER0 EY2 T-IH0-NG P-IY1 P-AH0-L HH-UW1 AA1-R TH-IH1-NG K-IH0 NG-AH1-V DH-EH0-M S-EH1-L-V Z-AE1 Z-M-AY1 N-ER0-Z F-R-AH1-M DH-AH0 AE1-K CH-AH0 W-AH0 L-W-ER1 K-AH1 V-M-AY1 N-IH0-NG


cloud miners are essentially paying to be exposed to a profit generated by mining company machines.

K-L-AW1 D-M-AY1 N-ER0 Z-AA1 R-IH0 S-EH1-N SH-AH0 L-IY0 P-EY1 IH0-NG T-UW1 B-IY1 IH0-K-S P-OW1-Z-D T-UW1 AH0 P-R-AA1 F-AH0-T JH-EH1 N-ER0 EY2 T-AH0-D B-AY1 M-AY1 N-IH0-NG K-AH1-M P-AH0 N-IY0 M-AH0 SH-IY1-N-Z


but as someone buying cloud mining, you don't actually own or control the machines yourself.

B-AH1 T-AE1-Z S-AH1 M-W-AH2-N B-AY1 IH0-NG K-L-AW1 D-M-AY1 N-IH0 NG-Y-UW1 D-AA1-N T-AE1-K CH-AH0 W-AH0 L-IY0 OW1 N-AO1-R K-AH0-N T-R-OW1-L DH-AH0 M-AH0 SH-IY1-N Z-Y-ER0 S-EH1-L-F


so if you have one of these, so if cloud mining operation become successful,

S-OW1 IH1 F-Y-UW1 HH-AE1 V-W-AH1 N-AH1-V DH-IY1-Z S-OW1 IH1-F K-L-AW1 D-M-AY1 N-IH0 NG-AA2 P-ER0 EY1 SH-AH0-N B-IH0 K-AH1-M S-AH0-K S-EH1-S F-AH0-L


it actually seems to me that it represents just about the truest point of centralization in the bitcoin ecosystem

IH1 T-AE1-K CH-AH0 W-AH0 L-IY0 S-IY1-M-Z T-UW1 M-IY1 DH-AE1 T-IH1 T-R-EH2 P-R-AH0 Z-EH1-N-T-S JH-AH1-S T-AH0 B-AW1-T DH-AH0 T-R-UW1 IH0-S-T P-OY1-N T-AH1-V S-EH2-N T-R-AH0 L-IH0 Z-EY1 SH-AH0 N-IH0-N DH-AH0 B-IH1-T K-AH0 N-IY1 K-OW0 S-IH2-S T-AH0-M


that one can imagine because unlike a standard pool, it's actually quite difficult for a miner to leave.

DH-AE1 T-W-AH1-N K-AE1 N-IH0 M-AE1 JH-AH0-N B-IH0 K-AO1 Z-AH0 N-L-AY1 K-AH0-S T-AE1-N D-ER0-D P-UW1 L-IH1-T S-AE1-K CH-AH0 W-AH0 L-IY0 K-W-AY1-T D-IH1 F-AH0 K-AH0-L-T F-AO1 R-AH0 M-AY1 N-ER0 T-UW1 L-IY1-V


andreas, last year, i really got concerned and a little obsessed about the decentralization problem as i saw it

AA0-N D-R-EY1 AH0 S-L-AE1-S T-Y-IH1 R-AY1 R-IH1 L-IY0 G-AA1-T K-AH0-N S-ER1-N D-AH0-N D-AH0 L-IH1 T-AH0 L-AH0-B S-EH1-S T-AH0 B-AW1-T DH-AH0 D-IH0 S-EH2-N T-R-AH0 L-IH0 Z-EY1 SH-AH0-N P-R-AA1 B-L-AH0 M-AE1 Z-AY1 S-AO1 IH1-T


with bitcoin. i'm wondering like is decentralization something that's even necessary in this system?

W-IH1-DH B-IH1-T K-AH0 N-IH1 M-W-AH1-N D-ER0 IH0 NG-L-AY1 K-IH1-Z D-IH0 S-EH2-N T-R-AH0 L-IH0 Z-EY1 SH-AH0-N S-AH1-M TH-IH0-NG TH-AE1-T S-IY1 V-IH0-N N-EH1 S-AH0 S-EH2 R-IY0 IH0-N DH-IH1-S S-IH1-S T-AH0-M


it is necessary in this system because consensus attacks can be more easily created.

IH1 T-IH1 Z-N-EH1 S-AH0 S-EH2 R-IY0 IH0-N DH-IH1-S S-IH1-S T-AH0-M B-IH0 K-AO1-Z K-AH0-N S-EH1-N S-AH0 S-AH0 T-AE1-K-S K-AE1-N B-IY1 M-AO1 R-IY1 Z-AH0 L-IY0 K-R-IY0 EY1 T-AH0-D


so when you centralize mining power, what you're doing is you're vesting trust

S-OW1 W-EH1 N-Y-UW1 S-EH1-N T-R-AH0 L-AY2 Z-M-AY1 N-IH0-NG P-AW1 ER0 W-AH1 T-Y-UH1-R D-UW1 IH0 NG-IH1 Z-Y-UH1-R V-EH1-S T-IH0-NG T-R-AH1-S-T


in a narrower and narrower part of the system.

IH0 N-AH0 N-EH1 R-OW0 ER0 AH0-N D-N-EH1 R-OW0 ER0 P-AA1-R T-AH1-V DH-AH0 S-IH1-S T-AH0-M


then the trust that they have to not double spend transactions,

DH-EH1-N DH-AH0 T-R-AH1-S-T DH-AE1-T DH-EY1 HH-AE1-V T-UW1 N-AA1-T D-AH1 B-AH0-L-S P-EH1-N-D T-R-AE0-N Z-AE1-K SH-AH0-N-Z


to not delay blocks or create restrictions on transactions and blocks,

T-UW1 N-AA1-T D-IH0 L-EY1 B-L-AA1-K S-AO1-R K-R-IY0 EY1 T-R-IY0-S T-R-IH1-K SH-AH0-N Z-AA1-N T-R-AE0-N Z-AE1-K SH-AH0-N Z-AH0-N-D B-L-AA1-K-S


that comes from the fact that they don't have the power concentrated in just a few hands.

DH-AE1-T K-AH1-M-Z F-R-AH1-M DH-AH0 F-AE1-K-T DH-AE1-T DH-EY1 D-AA1-N-T HH-AE1-V DH-AH0 P-AW1 ER0 K-AA1-N S-AH0-N T-R-EY2 T-AH0 D-IH0-N JH-AH1-S T-AH0 F-Y-UW1 HH-AE1-N-D-Z


the disincentive is that if you don't play by the rules, those who do will be in greater numbers and will actually gain the system.

DH-AH0 D-IH2 S-IH0-N S-EH1-N T-IH0 V-IH1-Z DH-AE1 T-IH1 F-Y-UW1 D-AA1-N-T P-L-EY1 B-AY1 DH-AH0 R-UW1-L-Z DH-OW1-Z HH-UW1 D-UW1 W-IH1-L B-IY1 IH0-N G-R-EY1 T-ER0 N-AH1-M B-ER0 Z-AH0-N D-W-IH1 L-AE1-K CH-AH0 W-AH0 L-IY0 G-EY1-N DH-AH0 S-IH1-S T-AH0-M


if you concentrate power in fewer hands, then you have to vest with trust,

IH1 F-Y-UW1 K-AA1-N S-AH0-N T-R-EY2-T P-AW1 ER0 IH0-N F-Y-UW1 ER0 HH-AE1-N-D-Z DH-EH1 N-Y-UW1 HH-AE1-V T-UW1 V-EH1-S T-W-IH1-DH T-R-AH1-S-T


and effectively what you've done is you've recreated paypal. you've recreated visa. you've created a centralized clearinghouse organization,

AH0-N D-IH0 F-EH1-K T-IH0 V-L-IY0 W-AH1 T-Y-UW1-V D-AH1 N-IH1 Z-Y-UW1 V-R-EH1 K-R-IY0 EY2 T-IH0-D P-EY1 P-AH0 L-Y-UW1 V-R-EH1 K-R-IY0 EY2 T-IH0-D V-IY1 Z-AH0 Y-UW1-V K-R-IY0 EY1 T-AH0 D-AH0 S-EH1-N T-R-AH0 L-AY2-Z-D K-L-IH1 R-IH0-NG HH-AW2 S-AO2-R G-AH0 N-AH0 Z-EY1 SH-AH0-N


just like you do in a centralized environment like visa and paypal. then on the other extreme you have-

JH-AH1-S T-L-AY1 K-Y-UW1 D-UW1 IH0 N-AH0 S-EH1-N T-R-AH0 L-AY2-Z D-IH0-N V-AY1 R-AH0-N M-AH0-N T-L-AY1-K V-IY1 Z-AH0 AH0-N-D P-EY1 P-AH0-L DH-EH1 N-AA1-N DH-AH0 AH1 DH-ER0 IH0-K-S T-R-IY1 M-Y-UW1 HH-AE1-V


personally, i definitely see the point of why satoshi built this algorithm in a distributed decentralized way.

P-ER1 S-AH0 N-AH0 L-IY0 AY1 D-EH1 F-AH0 N-AH0 T-L-IY0 S-IY1 DH-AH0 P-OY1-N T-AH1 V-W-AY1 S-AA0 T-OW1 SH-IY0 B-IH1-L-T DH-IH1 S-AE1-L G-ER0 IH2 DH-AH0 M-IH0 N-AH0 D-IH0-S T-R-IH1 B-Y-AH0 T-AH0-D D-IH0 S-EH1-N T-R-AH0 L-AY2-Z D-W-EY1


the idea that the power and trust should not be concentrated in the hands of one or a few, but as many as possible.

DH-AH0 AY0 D-IY1 AH0 DH-AE1-T DH-AH0 P-AW1 ER0 AH0-N-D T-R-AH1-S-T SH-UH1 D-N-AA1-T B-IY1 K-AA1-N S-AH0-N T-R-EY2 T-AH0 D-IH0-N DH-AH0 HH-AE1-N-D Z-AH1 V-W-AH1 N-AO1 R-AH0 F-Y-UW1 B-AH1 T-AE1 Z-M-EH1 N-IY0 AE1-Z P-AA1 S-AH0 B-AH0-L


at what point are we basically just saying, "well, everyone might as well like weave their own shirts out of cotton that they grow in their backyards and grow all their own food"?

AE1 T-W-AH1-T P-OY1-N T-AA1 R-W-IY1 B-EY1 S-IH0 K-L-IY0 JH-AH1-S-T S-EY1 IH0 NG-W-EH1 L-EH1 V-R-IY0 W-AH2-N M-AY1 T-AE1 Z-W-EH1-L L-AY1 K-W-IY1-V DH-EH1 R-OW1-N SH-ER1-T S-AW1 T-AH1-V K-AA1 T-AH0-N DH-AE1-T DH-EY1 G-R-OW1 IH0-N DH-EH1-R B-AE1 K-Y-AA2-R-D Z-AH0-N-D G-R-OW1 AO1-L DH-EH1 R-OW1-N F-UW1-D


when i was a litecoin miner, in my short career as a litecoin miner,

W-EH1 N-AY1 W-AA1 Z-AH0 L-IH1 T-IH0 K-AW2-N M-AY1 N-ER0 IH0-N M-AY1 SH-AO1-R-T K-ER0 IH1 R-AE1 Z-AH0 L-IH1 T-IH0 K-AW2-N M-AY1 N-ER0


i stopped. i was burning out my graphics cards.

AY1-S T-AA1-P T-AY1 W-AA1-Z B-ER1 N-IH0 NG-AW1 T-M-AY1 G-R-AE1 F-IH0-K-S K-AA1-R-D-Z


i was creating all this heat. i couldn't keep it cool. i couldn't keep the thing on. i had to keep rebooting it. it was inefficient.

AY1 W-AA1-Z K-R-IY0 EY1 T-IH0 NG-AO1-L DH-IH1-S HH-IY1 T-AY1 K-AW1-L D-AH0-N-T K-IY1 P-IH1-T K-UW1 L-AY1 K-AW1-L D-AH0-N-T K-IY1-P DH-AH0 TH-IH1 NG-AA1 N-AY1 HH-AE1-D T-UW1 K-IY1 P-R-IY0 B-AW1 T-IH0 NG-IH1 T-IH1 T-W-AA1 Z-IH0 N-IH0 F-IH1 SH-AH0-N-T


these people who have these large warehouses where they're cooling it with the arctic cold

DH-IY1-Z P-IY1 P-AH0-L HH-UW1 HH-AE1-V DH-IY1 Z-L-AA1-R JH-W-EH1-R HH-AW2 Z-IH0 Z-W-EH1-R TH-EH1-R K-UW1 L-IH0 NG-IH1 T-W-IH1-DH DH-AH0 AA1-R-K T-IH0-K K-OW1-L-D


somewhere in scandinavia or in the north pole even, and they're hooking up their machines correctly so that they don't burn out their cards.

S-AH1 M-W-EH2 R-IH0-N-S K-AE2-N D-IH0 N-EY1 V-IY0 AH0 AO1 R-IH0-N DH-AH0 N-AO1-R-TH P-OW1 L-IY1 V-IH0 N-AH0-N-D TH-EH1-R HH-UH1 K-IH0 NG-AH1-P DH-EH1-R M-AH0 SH-IY1-N-Z K-ER0 EH1-K T-L-IY0 S-OW1 DH-AE1-T DH-EY1 D-AA1-N-T B-ER1 N-AW1-T DH-EH1-R K-AA1-R-D-Z


whereas i didn't know what i was doing and i had to learn those mistakes the hard way,

W-EH0 R-AE1 Z-AY1 D-IH1 D-AH0-N T-N-OW1 W-AH1 T-AY1 W-AA1-Z D-UW1 IH0 NG-AH0-N D-AY1 HH-AE1-D T-UW1 L-ER1-N DH-OW1 Z-M-IH0-S T-EY1-K-S DH-AH0 HH-AA1-R D-W-EY1


they're more efficient at doing that than me. so why not have a little bit of division of labor here

TH-EH1-R M-AO1 R-IH0 F-IH1 SH-AH0-N T-AE1-T D-UW1 IH0-NG DH-AE1-T DH-AE1-N M-IY1 S-OW1 W-AY1 N-AA1-T HH-AE1 V-AH0 L-IH1 T-AH0-L B-IH1 T-AH1-V D-IH0 V-IH1 ZH-AH0 N-AH1 V-L-EY1 B-ER0 HH-IY1-R


absolutely. decentralized systems are far more costly than having a centralized clearinghouse

AE2-B S-AH0 L-UW1 T-L-IY0 D-IH0 S-EH1-N T-R-AH0 L-AY2-Z-D S-IH1-S T-AH0-M Z-AA1-R F-AA1-R M-AO1-R K-AA1-S T-L-IY0 DH-AE1-N HH-AE1 V-IH0 NG-AH0 S-EH1-N T-R-AH0 L-AY2-Z-D K-L-IH1 R-IH0-NG HH-AW2-S


in the labor of the clearinghouse, but that's a compromise that's most of the people who are in bitcoin are willing to make,

IH0-N DH-AH0 L-EY1 B-ER0 AH1-V DH-AH0 K-L-IH1 R-IH0-NG HH-AW2-S B-AH1-T TH-AE1-T S-AH0 K-AA1-M P-R-AH0 M-AY2-Z TH-AE1-T S-M-OW1-S T-AH1-V DH-AH0 P-IY1 P-AH0-L HH-UW1 AA1 R-IH0-N B-IH1-T K-AH0 N-AA1 R-W-IH1 L-IH0-NG T-UW1 M-EY1-K


and the reason they're willing to make that is because when you concentrate power in a clearinghouse, it's more efficient.

AH0-N-D DH-AH0 R-IY1 Z-AH0-N TH-EH1 R-W-IH1 L-IH0-NG T-UW1 M-EY1-K DH-AE1 T-IH1-Z B-IH0 K-AO1 Z-W-EH1 N-Y-UW1 K-AA1-N S-AH0-N T-R-EY2-T P-AW1 ER0 IH0 N-AH0 K-L-IH1 R-IH0-NG HH-AW2 S-IH1-T S-M-AO1 R-IH0 F-IH1 SH-AH0-N-T


but then the clearinghouse has enormous power and they tend to abuse it.

B-AH1-T DH-EH1-N DH-AH0 K-L-IH1 R-IH0-NG HH-AW2-S HH-AE1 Z-IH0 N-AO1-R M-AH0-S P-AW1 ER0 AH0-N-D DH-EY1 T-EH1-N-D T-UW1 AH0 B-Y-UW1 Z-IH1-T


they use that power in order to establish monopolies.

DH-EY1 Y-UW1-Z DH-AE1-T P-AW1 ER0 IH0 N-AO1-R D-ER0 T-UW1 IH0-S T-AE1 B-L-IH0 SH-M-AH0 N-AA1 P-AH0 L-IY0-Z


so you end up paying for that efficiency and externalities in the system.

S-OW1 Y-UW1 EH1-N D-AH1-P P-EY1 IH0-NG F-AO1-R DH-AE1 T-IH0 F-IH1 SH-AH0-N S-IY0 AH0-N D-EH2-K-S T-ER0 N-AE1 L-AH0 T-IY0 Z-IH0-N DH-AH0 S-IH1-S T-AH0-M


so let's look at a couple of case studies. i mean, there have been points in the past where some of the bitcoin mining pools have gotten close to the theoretical scary number of 51%.

S-OW1 L-EH1-T S-L-UH1 K-AE1 T-AH0 K-AH1 P-AH0 L-AH1-V K-EY1-S-S T-AH1 D-IY0 Z-AY1 M-IY1-N DH-EH1-R HH-AE1-V B-IH1-N P-OY1-N-T S-IH0-N DH-AH0 P-AE1-S T-W-EH1-R S-AH1 M-AH1-V DH-AH0 B-IH1-T K-AH0-N M-AY1 N-IH0-NG P-UW1-L-Z HH-AE1-V G-AA1 T-AH0-N K-L-OW1-S T-UW1 DH-AH0 TH-IY2 ER0 EH1 T-IH0 K-AH0-L-S K-EH1 R-IY0 N-AH1-M B-ER0 AH1-V F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N-T


that is having more than 50% of the network hashing power

DH-AE1 T-IH1-Z HH-AE1 V-IH0-NG M-AO1-R DH-AE1-N F-IH1-F T-IY0 P-ER0 S-EH1-N T-AH1-V DH-AH0 N-EH1 T-W-ER2-K HH-AE1 SH-IH0-NG P-AW1 ER0


that they could then use to initiate double spends

DH-AE1-T DH-EY1 K-UH1-D DH-EH1 N-Y-UW1-Z T-UW1 IH2 N-IH1 SH-IY0 EY2-T D-AH1 B-AH0-L-S P-EH1-N-D-Z


or to do other nefarious things that could mess with bitcoin.

AO1-R T-UW1 D-UW1 AH1 DH-ER0 N-AH0 F-EH1 R-IY0 AH0-S TH-IH1-NG-Z DH-AE1-T K-UH1 D-M-EH1 S-W-IH1-DH B-IH1-T K-AH0-N


there was the pool ghash.io

DH-EH1 R-W-AA1-Z DH-AH0 P-UW1-L G-AA1 SH-IY0 OW2


and they did actually get over 51% for a time, right? then people started to leave the pool, i guess, concerned

AH0-N-D DH-EY1 D-IH1 D-AE1-K CH-AH0 W-AH0 L-IY0 G-EH1 T-OW1 V-ER0 F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N-T F-AO1 R-AH0 T-AY1 M-R-AY1-T DH-EH1-N P-IY1 P-AH0-L-S T-AA1-R T-AH0-D T-UW1 L-IY1-V DH-AH0 P-UW1 L-AY1 G-EH1-S K-AH0-N S-ER1-N-D


bitcoin miners who do want that pool to have more than 51% because they feared it would ruin bitcoin or negatively affect bitcoin probably justly so.

B-IH1-T K-AH0-N M-AY1 N-ER0-Z HH-UW1 D-UW1 W-AA1-N-T DH-AE1-T P-UW1-L T-UW1 HH-AE1 V-M-AO1-R DH-AE1-N F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N-T B-IH0 K-AO1-Z DH-EY1 F-IH1-R D-IH1 T-W-UH1 D-R-UW1 AH0-N B-IH1-T K-AH0 N-AO1-R N-EH1 G-AH0 T-IH0 V-L-IY0 AE1 F-EH0-K-T B-IH1-T K-AH0-N P-R-AA1 B-AH0 B-L-IY0 JH-AH1-S T-L-IY0 S-OW1


people left it until it got smaller.

P-IY1 P-AH0-L L-EH1-F T-IH1 T-AH0-N T-IH1 L-IH1-T G-AA1-T S-M-AO1 L-ER0


it happened with a couple of other mining pools in the past.

IH1-T HH-AE1 P-AH0-N D-W-IH1 DH-AH0 K-AH1 P-AH0 L-AH1 V-AH1 DH-ER0 M-AY1 N-IH0-NG P-UW1-L Z-IH0-N DH-AH0 P-AE1-S-T


i can't remember the first time it happened, but it was one of these early mining pools and now i'm just forgetting their name. do either of you guys remember?

AY1 K-AE1-N T-R-IH0 M-EH1-M B-ER0 DH-AH0 F-ER1-S-T T-AY1 M-IH1-T HH-AE1 P-AH0-N-D B-AH1 T-IH1 T-W-AA1 Z-W-AH1 N-AH1-V DH-IY1 Z-ER1 L-IY0 M-AY1 N-IH0-NG P-UW1-L Z-AH0-N D-N-AW1 IH1-M JH-AH1-S-T F-ER0 G-EH1 T-IH0-NG DH-EH1-R N-EY1-M D-UW1 IY1 DH-ER0 AH1 V-Y-UW1 G-AY1 Z-R-IH0 M-EH1-M B-ER0


there's btc guild in the old days.

DH-EH1-R-Z T-IY1 B-IY1 S-IY1 G-IH1-L D-IH0-N DH-AH0 OW1-L-D D-EY1-Z


it happened with btc guild where they were approaching 51% as well,

IH1-T HH-AE1 P-AH0-N D-W-IH1-DH T-IY1 B-IY1 S-IY1 G-IH1-L D-W-EH1-R DH-EY1 W-ER0 AH0 P-R-OW1 CH-IH0-NG F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AE1 Z-W-EH1-L


i guess that was because they were a good mining pool because they figured out how to serve their customers, which are the people who are contributing power to the mining pool,

AY1 G-EH1-S DH-AE1 T-W-AA1-Z B-IH0 K-AO1-Z DH-EY1 W-ER0 AH0 G-UH1 D-M-AY1 N-IH0-NG P-UW1-L B-IH0 K-AO1-Z DH-EY1 F-IH1 G-Y-ER0 D-AW1-T HH-AW1 T-UW1 S-ER1-V DH-EH1-R K-AH1-S T-AH0 M-ER0 Z-W-IH1 CH-AA1-R DH-AH0 P-IY1 P-AH0-L HH-UW1 AA1-R K-AH0-N T-R-IH1 B-Y-UW0 T-IH0-NG P-AW1 ER0 T-UW1 DH-AH0 M-AY1 N-IH0-NG P-UW1-L


and it became popular because you want a cheap mining pool where they got the best rewards or [inaudible]

AH0-N D-IH1-T B-IH0 K-EY1-M P-AA1 P-Y-AH0 L-ER0 B-IH0 K-AO1 Z-Y-UW1 W-AA1-N T-AH0 CH-IY1 P-M-AY1 N-IH0-NG P-UW1 L-W-EH1-R DH-EY1 G-AA1-T DH-AH0 B-EH1-S T-R-IH0 W-AO1-R-D Z-AO1 R-IH0 N-AO1 D-AH0 B-AH0-L


service. but then that became a double-edged sword because people started to leave as they became scared of that 51% potential.

S-ER1 V-AH0-S B-AH1-T DH-EH1-N DH-AE1-T B-IH0 K-EY1 M-AH0 D-AH1 B-AH0 L-EH2 D-AH0-D S-AO1-R-D B-IH0 K-AO1-Z P-IY1 P-AH0-L-S T-AA1-R T-AH0-D T-UW1 L-IY1 V-AE1-Z DH-EY1 B-IH0 K-EY1-M-S K-EH1-R D-AH1-V DH-AE1-T F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N-T P-AH0 T-EH1-N SH-AH0-L


there has not yet been an instance where a mining pool had so much hashing power and they decided to abuse it.

DH-EH1-R HH-AE1 Z-N-AA1 T-Y-EH1-T B-IH1 N-AE1 N-IH1-N-S T-AH0-N S-W-EH1 R-AH0 M-AY1 N-IH0-NG P-UW1-L HH-AE1-D S-OW1 M-AH1-CH HH-AE1 SH-IH0-NG P-AW1 ER0 AH0-N-D DH-EY1 D-IH0 S-AY1 D-IH0-D T-UW1 AH0 B-Y-UW1 Z-IH1-T


but there have been those instances in altcoins.

B-AH1-T DH-EH1-R HH-AE1-V B-IH1-N DH-OW1 Z-IH1-N-S T-AH0-N S-AH0 Z-IH0 N-AE1-L-T K-OY0-N-Z


actually, that happens quite frequently because, speaking of bitcoin mining, a lot of people have invested in bitcoin mining hardware, which is now pretty much worthless for bitcoin.

AE1-K CH-AH0 W-AH0 L-IY0 DH-AE1-T HH-AE1 P-AH0-N-Z K-W-AY1-T F-R-IY1 K-W-AH0-N T-L-IY0 B-IH0 K-AO1-Z-S P-IY1 K-IH0 NG-AH1-V B-IH1-T K-AH0-N M-AY1 N-IH0 NG-AH0 L-AA1 T-AH1-V P-IY1 P-AH0-L HH-AE1 V-IH0-N V-EH1-S T-AH0 D-IH0-N B-IH1-T K-AH0-N M-AY1 N-IH0-NG HH-AA1-R D-W-EH2 R-W-IH1 CH-IH1 Z-N-AW1 P-R-IH1 T-IY0 M-AH1 CH-W-ER1 TH-L-AH0-S F-AO1-R B-IH1-T K-AH0-N


but if they can find a new altcoin, if it's mining on the same algorithm as bitcoin sha-256,

B-AH1 T-IH1-F DH-EY1 K-AE1-N F-AY1-N D-AH0 N-UW1 AE1-L-T K-AH0 N-IH1 F-IH1-T S-M-AY1 N-IH0 NG-AA1-N DH-AH0 S-EY1 M-AE1-L G-ER0 IH2 DH-AH0 M-AE1-Z B-IH1-T K-AH0-N SH-AA1 N-EH1 G-AH0 T-IH0-V T-UW1 HH-AH1-N D-R-AH0 D-AH0-N-D F-IH1-F T-IY0 S-IH1-K-S


and pretty soon they might be well on the way to taking over the network of that new fledgling altcoin or the altcoin that not many people mining on

AH0-N-D P-R-IH1 T-IY0 S-UW1-N DH-EY1 M-AY1-T B-IY1 W-EH1 L-AA1-N DH-AH0 W-EY1 T-UW1 T-EY1 K-IH0 NG-OW1 V-ER0 DH-AH0 N-EH1 T-W-ER2 K-AH1-V DH-AE1 T-N-UW1 F-L-EH1 JH-L-IH0 NG-AE1-L-T K-AH0 N-AO1-R DH-AH0 AE1-L-T K-AH0-N DH-AE1 T-N-AA1 T-M-EH1 N-IY0 P-IY1 P-AH0-L M-AY1 N-IH0 NG-AA1-N


because there are lots of altcoins out there and lots of people's mining power is limited.

B-IH0 K-AO1-Z DH-EH1 R-AA1-R L-AA1-T S-AH1 V-AE1-L-T K-OY0-N Z-AW1-T DH-EH1 R-AH0-N D-L-AA1-T S-AH1-V P-IY1 P-AH0-L Z-M-AY1 N-IH0-NG P-AW1 ER0 IH1 Z-L-IH1 M-AH0 T-AH0-D


there have been instances where other coins have kinds of attacks.

DH-EH1-R HH-AE1-V B-IH1 N-IH1-N-S T-AH0-N S-AH0 Z-W-EH1 R-AH1 DH-ER0 K-OY1-N-Z HH-AE1-V K-AY1-N-D Z-AH1 V-AH0 T-AE1-K-S


i think there was one on terra coin.

AY1 TH-IH1-NG-K DH-EH1 R-W-AA1 Z-W-AH1 N-AA1-N T-EH1 R-AH0 K-OY1-N


do you guys remember that? i think we talked about it on the show more than a year ago. yeah.

D-UW1 Y-UW1 G-AY1 Z-R-IH0 M-EH1-M B-ER0 DH-AE1 T-AY1 TH-IH1-NG K-W-IY1 T-AO1-K T-AH0 B-AW1 T-IH1 T-AA1-N DH-AH0 SH-OW1 M-AO1-R DH-AE1 N-AH0 Y-IH1 R-AH0 G-OW1 Y-AE1


there have been a few 51% attacks, but there haven't been that many

DH-EH1-R HH-AE1-V B-IH1 N-AH0 F-Y-UW1 F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1-K-S B-AH1-T DH-EH1-R HH-AE1 V-AH0-N-T B-IH1-N DH-AE1 T-M-EH1 N-IY0


in the entire cryptocurrency monopoly, unless i'm just not hearing about most of

IH0-N DH-AH0 IH0-N T-AY1 ER0 K-R-IH1 P-AH0 K-Y-AH0 N-ER0 SH-IY0 M-AH0 N-AA1 P-AH0 L-IY0 AH0 N-L-EH1 S-IH1-M JH-AH1-S T-N-AA1-T HH-IY1 R-IH0 NG-AH0 B-AW1 T-M-OW1-S T-AH1-V


them. i would say probably they're not huge events anymore. i mean,

DH-EH1 M-AY1 W-UH1-D S-EY1 P-R-AA1 B-AH0 B-L-IY0 TH-EH1-R N-AA1-T HH-Y-UW1 JH-IH0 V-EH1-N-T S-EH2 N-IY0 M-AO1 R-AY1 M-IY1-N


what can someone do with a 51% attack is another question. it's not this big scary thing,

W-AH1-T K-AE1-N S-AH1 M-W-AH2-N D-UW1 W-IH1 DH-AH0 F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1 K-IH1 Z-AH0 N-AH1 DH-ER0 K-W-EH1-S CH-AH0 N-IH1-T S-N-AA1-T DH-IH1-S B-IH1-G-S K-EH1 R-IY0 TH-IH1-NG


but really the worst thing that they can do pretty much is do a double spend and then put that double spent coin into an exchange,

B-AH1 T-R-IH1 L-IY0 DH-AH0 W-ER1-S-T TH-IH1-NG DH-AE1-T DH-EY1 K-AE1-N D-UW1 P-R-IH1 T-IY0 M-AH1 CH-IH1-Z D-UW1 AH0 D-AH1 B-AH0-L-S P-EH1-N D-AH0-N-D DH-EH1-N P-UH1-T DH-AE1-T D-AH1 B-AH0-L-S P-EH1-N-T K-OY1 N-IH0-N T-UW1 AE1 N-IH0-K-S CH-EY1-N-JH


get real bitcoin or real fiat from that and then it was actually a double spend in the exchanges out. or they buy a product with it and the product ships or something, but mostly it's exchanges.

G-EH1 T-R-IY1-L B-IH1-T K-AH0 N-AO1-R R-IY1-L F-AY1 AE0-T F-R-AH1-M DH-AE1 T-AH0-N-D DH-EH1 N-IH1 T-W-AA1 Z-AE1-K CH-AH0 W-AH0 L-IY0 AH0 D-AH1 B-AH0-L-S P-EH1-N D-IH0-N DH-AH0 IH0-K-S CH-EY1-N JH-AH0 Z-AW1 T-AO1-R DH-EY1 B-AY1 AH0 P-R-AA1 D-AH0-K T-W-IH1 DH-IH1 T-AH0-N-D DH-AH0 P-R-AA1 D-AH0-K-T SH-IH1-P S-AO1-R S-AH1-M TH-IH0-NG B-AH1 T-M-OW1-S T-L-IY0 IH1-T S-IH0-K-S CH-EY1-N JH-AH0-Z


andreas, would you agree that's pretty much the worst thing one can do with a double spend attack or a 51% attack?

AA0-N D-R-EY1 AH0 S-W-UH1 D-Y-UW1 AH0 G-R-IY1 TH-AE1-T-S P-R-IH1 T-IY0 M-AH1-CH DH-AH0 W-ER1-S-T TH-IH1 NG-W-AH1-N K-AE1-N D-UW1 W-IH1 DH-AH0 D-AH1 B-AH0-L-S P-EH1-N D-AH0 T-AE1 K-AO1 R-AH0 F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1-K


well, yes. not only is that the misunderstanding that persists out there is that

W-EH1 L-Y-EH1 S-N-AA1 T-OW1 N-L-IY0 IH1-Z DH-AE1-T DH-AH0 M-IH2 S-AH0-N D-ER0-S T-AE1-N D-IH0-NG DH-AE1-T P-ER0 S-IH1-S-T S-AW1-T DH-EH1 R-IH1-Z DH-AE1-T


people can use this to steal money and they can't.

P-IY1 P-AH0-L K-AE1 N-Y-UW1-Z DH-IH1-S T-UW1-S T-IY1-L M-AH1 N-IY0 AH0-N-D DH-EY1 K-AE1-N-T


you can do a double spend attack, you have to then either get a product shipped or an exchange withdrawal to happen for it to be valuable.

Y-UW1 K-AE1-N D-UW1 AH0 D-AH1 B-AH0-L-S P-EH1-N D-AH0 T-AE1 K-Y-UW1 HH-AE1-V T-UW1 DH-EH1 N-IY1 DH-ER0 G-EH1 T-AH0 P-R-AA1 D-AH0-K-T SH-IH1-P T-AO1 R-AE1 N-IH0-K-S CH-EY1-N JH-W-IH0-DH D-R-AO1 AH0-L T-UW1 HH-AE1 P-AH0-N F-AO1 R-IH1-T T-UW1 B-IY1 V-AE1 L-Y-AH0 B-AH0-L


however, you can also do a denial of service attack, which is probably more serious.

HH-AW2 EH1 V-ER0 Y-UW1 K-AE1 N-AO1-L S-OW0 D-UW1 AH0 D-IH0 N-AY1 AH0 L-AH1-V S-ER1 V-AH0 S-AH0 T-AE1 K-W-IH1 CH-IH1-Z P-R-AA1 B-AH0 B-L-IY0 M-AO1-R S-IH1 R-IY0 AH0-S


denial of service attack against transactions or other mining

D-IH0 N-AY1 AH0 L-AH1-V S-ER1 V-AH0 S-AH0 T-AE1 K-AH0 G-EH1-N-S-T T-R-AE0-N Z-AE1-K SH-AH0-N Z-AO1 R-AH1 DH-ER0 M-AY1 N-IH0-NG


pools in such a way as to maintain dominance over a double spend possibility or capability.

P-UW1-L Z-IH0-N S-AH1 CH-AH0 W-EY1 AE1-Z T-UW1 M-EY0-N T-EY1-N D-AA1 M-AH0 N-AH0-N S-OW1 V-ER0 AH0 D-AH1 B-AH0-L-S P-EH1-N-D P-AA2 S-AH0 B-IH1 L-AH0 T-IY0 AO1-R K-EY2 P-AH0 B-IH1 L-AH0 T-IY0


so once you get 51% attack, you can use that to keep others from mining blocks

S-OW1 W-AH1-N S-Y-UW1 G-EH1-T F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1 K-Y-UW1 K-AE1 N-Y-UW1-Z DH-AE1-T T-UW1 K-IY1 P-AH1 DH-ER0-Z F-R-AH1-M M-AY1 N-IH0-NG B-L-AA1-K-S


to a point where you maintain that hashing power by starving them of reward.

T-UW1 AH0 P-OY1-N T-W-EH1 R-Y-UW1 M-EY0-N T-EY1-N DH-AE1-T HH-AE1 SH-IH0-NG P-AW1 ER0 B-AY1-S T-AA1-R V-IH0-NG DH-EH1 M-AH1 V-R-IH0 W-AO1-R-D


you said the misconception is that people can use a double spend or a 51% attack to steal money.

Y-UW1 S-EH1-D DH-AH0 M-IH0-S K-AH0-N S-EH1-P SH-AH0 N-IH1-Z DH-AE1-T P-IY1 P-AH0-L K-AE1 N-Y-UW1 Z-AH0 D-AH1 B-AH0-L-S P-EH1-N D-AO1 R-AH0 F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1-K T-UW1-S T-IY1-L M-AH1 N-IY0


you're talking about like rewriting history, right? like if i have bitcoins in my bitcoin address, the idea, which is mistaken,

Y-UH1-R T-AO1 K-IH0 NG-AH0 B-AW1 T-L-AY1 K-R-IY0 R-AY1 T-IH0-NG HH-IH1-S T-ER0 IY0 R-AY1 T-L-AY1 K-IH1 F-AY1 HH-AE1-V B-IH1-T K-AW2-N Z-IH0-N M-AY1 B-IH1-T K-AH0 N-AE1 D-R-EH2-S DH-AH0 AY0 D-IY1 AH0 W-IH1 CH-IH1 Z-M-IH0-S T-EY1 K-AH0-N


could literally roll back the blockchain and roll back history and take those bitcoins out of my bitcoin address and give it to themselves, right?

K-UH1 D-L-IH1 T-ER0 AH0 L-IY0 R-OW1-L B-AE1-K DH-AH0 B-L-AA1-K HH-EY2 N-AH0-N D-R-OW1-L B-AE1-K HH-IH1-S T-ER0 IY0 AH0-N-D T-EY1-K DH-OW1-Z B-IH1-T K-AW2-N Z-AW1 T-AH1 V-M-AY1 B-IH1-T K-AH0 N-AE1 D-R-EH2 S-AH0-N-D G-IH1 V-IH1-T T-UW1 DH-EH0-M S-EH1-L-V Z-R-AY1-T


well, no. not only that, but it has nothing to do with rolling back history. there's two aspects of that. first of all,

W-EH1-L N-OW1 N-AA1 T-OW1 N-L-IY0 DH-AE1-T B-AH1 T-IH1-T HH-AE1 Z-N-AH1 TH-IH0-NG T-UW1 D-UW1 W-IH1 DH-R-OW1 L-IH0-NG B-AE1-K HH-IH1-S T-ER0 IY0 DH-EH1-R-Z T-UW1 AE1-S P-EH2-K-T S-AH1-V DH-AE1-T F-ER1-S T-AH1 V-AO1-L


you can't create a transaction which you don't have signing authority over whether you control 51% of the network or not, whether you can pull off 51% attack or not.

Y-UW1 K-AE1-N-T K-R-IY0 EY1 T-AH0 T-R-AE0-N Z-AE1-K SH-AH0 N-W-IH1 CH-Y-UW1 D-AA1-N-T HH-AE1-V S-AY1 N-IH0 NG-AH0 TH-AO1 R-AH0 T-IY0 OW1 V-ER0 W-EH1 DH-ER0 Y-UW1 K-AH0-N T-R-OW1-L F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH1-V DH-AH0 N-EH1 T-W-ER2 K-AO1-R N-AA1 T-W-EH1 DH-ER0 Y-UW1 K-AE1-N P-UH1 L-AO1-F F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1 K-AO1-R N-AA1-T


you still can't control funds that you don't have signing authority or keys for.

Y-UW1-S T-IH1-L K-AE1-N-T K-AH0-N T-R-OW1-L F-AH1-N-D-Z DH-AE1 T-Y-UW1 D-AA1-N-T HH-AE1-V S-AY1 N-IH0 NG-AH0 TH-AO1 R-AH0 T-IY0 AO1-R K-IY1-Z F-AO1-R


all you can do is spend your own funds and then after someone's exchanged those funds for something else, rewrite history and then spend those funds again

AO1 L-Y-UW1 K-AE1-N D-UW1 IH1-Z-S P-EH1-N D-Y-AO1 R-OW1-N F-AH1-N-D Z-AH0-N-D DH-EH1 N-AE1-F T-ER0 S-AH1 M-OW2-N Z-IH0-K-S CH-EY1-N-JH-D DH-OW1-Z F-AH1-N-D-Z F-AO1-R S-AH1-M TH-IH0 NG-EH1-L S-R-IY1 R-AY2-T HH-IH1-S T-ER0 IY0 AH0-N-D DH-EH1-N-S P-EH1-N-D DH-OW1-Z F-AH1-N-D Z-AH0 G-EH1-N


and deprive the recipients of those funds from those funds. but you can't spend other people's funds or create transactions that are bogus or signed without having keys and things like that.

AH0-N-D D-IH0 P-R-AY1-V DH-AH0 R-IH0 S-IH1 P-IY0 AH0-N-T S-AH1-V DH-OW1-Z F-AH1-N-D-Z F-R-AH1-M DH-OW1-Z F-AH1-N-D-Z B-AH1 T-Y-UW1 K-AE1-N-T-S P-EH1-N D-AH1 DH-ER0 P-IY1 P-AH0-L-Z F-AH1-N-D Z-AO1-R K-R-IY0 EY1-T T-R-AE0-N Z-AE1-K SH-AH0-N-Z DH-AE1 T-AA1-R B-OW1 G-AH0 S-AO1-R S-AY1-N D-W-IH0 TH-AW1-T HH-AE1 V-IH0-NG K-IY1 Z-AH0-N-D TH-IH1-NG Z-L-AY1-K DH-AE1-T


so there's a big misunderstanding of exactly what you can do. however, the disruptive potential is there.

S-OW1 DH-EH1-R Z-AH0 B-IH1 G-M-IH2 S-AH0-N D-ER0-S T-AE1-N D-IH0 NG-AH1 V-IH0-G Z-AE1-K T-L-IY0 W-AH1 T-Y-UW1 K-AE1-N D-UW1 HH-AW2 EH1 V-ER0 DH-AH0 D-IH0 S-R-AH1-P T-IH0-V P-AH0 T-EH1-N SH-AH0 L-IH1-Z DH-EH1-R


keep in mind, though, that there's this big economy which is that

K-IY1 P-IH0-N M-AY1-N-D DH-OW1 DH-AE1-T DH-EH1-R-Z DH-IH1-S B-IH1 G-IH0 K-AA1 N-AH0 M-IY0 W-IH1 CH-IH1-Z DH-AE1-T


the coins on which it is easy to do 51% attacks don't usually have monetary

DH-AH0 K-OY1-N Z-AA1 N-W-IH1 CH-IH1 T-IH1 Z-IY1 Z-IY0 T-UW1 D-UW1 F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1-K-S D-AA1-N T-Y-UW1 ZH-AH0 W-AH0 L-IY0 HH-AE1 V-M-AA1 N-AH0 T-EH2 R-IY0


value that is worth doing a double spend attack, and most of these attacks is just being malicious and denial of service oriented,

V-AE1 L-Y-UW0 DH-AE1 T-IH1 Z-W-ER1-TH D-UW1 IH0 NG-AH0 D-AH1 B-AH0-L-S P-EH1-N D-AH0 T-AE1 K-AH0-N D-M-OW1-S T-AH1-V DH-IY1 Z-AH0 T-AE1-K S-IH1-Z JH-AH1-S-T B-IY1 IH0-NG M-AH0 L-IH1 SH-AH0 S-AH0-N-D D-IH0 N-AY1 AH0 L-AH1-V S-ER1 V-AH0 S-AO1 R-IY0 EH2-N T-AH0-D


and the coins that do have value, especially bitcoin...

AH0-N-D DH-AH0 K-OY1-N-Z DH-AE1-T D-UW1 HH-AE1-V V-AE1 L-Y-UW0 AH0-S P-EH1 SH-L-IY0 B-IH1-T K-AH0-N


it's not possible at the moment with was the hashing capacity that's out there.

IH1-T S-N-AA1-T P-AA1 S-AH0 B-AH0 L-AE1-T DH-AH0 M-OW1 M-AH0-N T-W-IH1 DH-W-AA1-Z DH-AH0 HH-AE1 SH-IH0-NG K-AH0 P-AE1 S-AH0 T-IY0 TH-AE1-T S-AW1-T DH-EH1-R


there's a reason for that. it's because the incentives are aligned to prevent you from doing that.

DH-EH1-R Z-AH0 R-IY1 Z-AH0-N F-AO1-R DH-AE1 T-IH1-T-S B-IH0 K-AO1-Z DH-AH0 IH0-N S-EH1-N T-IH0-V Z-AA1 R-AH0 L-AY1-N-D T-UW1 P-R-IH0 V-EH1-N T-Y-UW1 F-R-AH1-M D-UW1 IH0-NG DH-AE1-T


first of all, a lot of people are watching so that when

F-ER1-S T-AH1 V-AO1 L-AH0 L-AA1 T-AH1-V P-IY1 P-AH0 L-AA1 R-W-AA1 CH-IH0-NG S-OW1 DH-AE1 T-W-EH1-N


people's livelihood is threatened, this economy is threatened. so, people make a big fuss about it.

P-IY1 P-AH0-L Z-L-AY1 V-L-IY0 HH-UH2 D-IH1-Z TH-R-EH1 T-AH0-N-D DH-IH1 S-IH0 K-AA1 N-AH0 M-IY0 IH1-Z TH-R-EH1 T-AH0-N-D S-OW1 P-IY1 P-AH0-L M-EY1 K-AH0 B-IH1-G F-AH1 S-AH0 B-AW1 T-IH1-T


the miners are incented to change pools and do things about it.

DH-AH0 M-AY1 N-ER0 Z-AA1 R-IH0-N S-EH1-N T-IH0-D T-UW1 CH-EY1-N-JH P-UW1-L Z-AH0-N-D D-UW1 TH-IH1-NG Z-AH0 B-AW1 T-IH1-T


where it's most profitable to do one,

W-EH1 R-IH1-T S-M-OW1-S-T P-R-AA1 F-AH0 T-AH0 B-AH0-L T-UW1 D-UW1 W-AH1-N


it's hardest to do one and where it's easy to do an attack, it's not very profitable. so, that's one of the

IH1-T-S HH-AA1-R D-AH0-S-T T-UW1 D-UW1 W-AH1 N-AH0-N D-W-EH1 R-IH1-T S-IY1 Z-IY0 T-UW1 D-UW1 AE1 N-AH0 T-AE1 K-IH1-T S-N-AA1-T V-EH1 R-IY0 P-R-AA1 F-AH0 T-AH0 B-AH0-L S-OW1 TH-AE1-T S-W-AH1 N-AH1-V DH-AH0


things that makes us, at least makes me look at 51% attacks as a very interesting theoretical possibility and something we

TH-IH1-NG-Z DH-AE1 T-M-EY1-K S-AH1 S-AE1 T-L-IY1-S T-M-EY1-K S-M-IY1 L-UH1 K-AE1-T F-IH1-F T-IY0 W-AH1-N P-ER0 S-EH1-N T-AH0 T-AE1-K S-AE1 Z-AH0 V-EH1 R-IY0 IH1-N T-R-AH0-S T-IH0-NG TH-IY2 ER0 EH1 T-IH0 K-AH0-L P-AA2 S-AH0 B-IH1 L-AH0 T-IY0 AH0-N-D S-AH1-M TH-IH0 NG-W-IY1


need to be on the lookout for and be aware of the possibility.

N-IY1-D T-UW1 B-IY1 AA1-N DH-AH0 L-UH1 K-AW2-T F-AO1 R-AH0-N-D B-IY1 AH0 W-EH1 R-AH1-V DH-AH0 P-AA2 S-AH0 B-IH1 L-AH0 T-IY0


but at the same time, i don't consider it a practical

B-AH1 T-AE1-T DH-AH0 S-EY1-M T-AY1 M-AY1 D-AA1-N-T K-AH0-N S-IH1 D-ER0 IH1 T-AH0 P-R-AE1-K T-AH0 K-AH0-L