{"version":"1.0.0","segments":[{"speaker":"Matt Zahab","startTime":8.01,"endTime":10.62,"body":"Ladies and"},{"speaker":"Matt Zahab","startTime":8.01,"endTime":10.62,"body":"gentlemen, today's guest is a"},{"speaker":"Matt Zahab","startTime":10.62,"endTime":13.86,"body":"Bitcoin veteran with a"},{"speaker":"Matt Zahab","startTime":10.62,"endTime":13.86,"body":"background in Austrian economics"},{"speaker":"Matt Zahab","startTime":13.89,"endTime":17.49,"body":"and political philosophy. This"},{"speaker":"Matt Zahab","startTime":13.89,"endTime":17.49,"body":"man has a passion for Bitcoin"},{"speaker":"Matt Zahab","startTime":17.49,"endTime":21.75,"body":"education and a true lover of"},{"speaker":"Matt Zahab","startTime":17.49,"endTime":21.75,"body":"the keto diet. In the morning,"},{"speaker":"Matt Zahab","startTime":22.02,"endTime":26.01,"body":"you can find him mowing down on"},{"speaker":"Matt Zahab","startTime":22.02,"endTime":26.01,"body":"bacon and eggs alongside a big"},{"speaker":"Matt Zahab","startTime":26.01,"endTime":29.94,"body":"black coffee with a stick of"},{"speaker":"Matt Zahab","startTime":26.01,"endTime":29.94,"body":"butter inside. He's an absolute"},{"speaker":"Matt Zahab","startTime":30.0,"endTime":34.11,"body":"lover. This gentleman is also"},{"speaker":"Matt Zahab","startTime":30.0,"endTime":34.11,"body":"the author of two books, Bitcoin"},{"speaker":"Matt Zahab","startTime":34.14,"endTime":38.82,"body":"separation of money and state,"},{"speaker":"Matt Zahab","startTime":34.14,"endTime":38.82,"body":"and enemies of state friend and"},{"speaker":"Matt Zahab","startTime":38.82,"endTime":42.33,"body":"liberty. Present day, he's a"},{"speaker":"Matt Zahab","startTime":38.82,"endTime":42.33,"body":"Twitter guru and brand"},{"speaker":"Matt Zahab","startTime":42.33,"endTime":45.75,"body":"ambassador at Trezor, the"},{"speaker":"Matt Zahab","startTime":42.33,"endTime":45.75,"body":"world's original crypto hardware"},{"speaker":"Matt Zahab","startTime":45.75,"endTime":49.62,"body":"wallet, which was invented by"},{"speaker":"Matt Zahab","startTime":45.75,"endTime":49.62,"body":"the team at Satoshi labs. I'm"},{"speaker":"Matt Zahab","startTime":49.62,"endTime":54.12,"body":"pleased to welcome to the crypto"},{"speaker":"Matt Zahab","startTime":49.62,"endTime":54.12,"body":"news podcast Josef Tetek. Josef,"},{"speaker":"Matt Zahab","startTime":54.18,"endTime":55.32,"body":"welcome to the show, my friend."},{"speaker":"Josef Ttek","startTime":55.83,"endTime":57.99,"body":"Hi, thanks for the"},{"speaker":"Josef Ttek","startTime":55.83,"endTime":57.99,"body":"invitation."},{"speaker":"Matt Zahab","startTime":58.74,"endTime":61.41,"body":"You're very welcome."},{"speaker":"Matt Zahab","startTime":58.74,"endTime":61.41,"body":"How was, gotta jump right into"},{"speaker":"Matt Zahab","startTime":61.41,"endTime":64.38,"body":"it, how was your morning coffee"},{"speaker":"Matt Zahab","startTime":61.41,"endTime":64.38,"body":"with the stick of butter this"},{"speaker":"Matt Zahab","startTime":64.38,"endTime":64.77,"body":"morning?"},{"speaker":"Josef Ttek","startTime":65.099,"endTime":68.429,"body":"Yeah, it was pretty"},{"speaker":"Josef Ttek","startTime":65.099,"endTime":68.429,"body":"good. I try it. Sometimes I use"},{"speaker":"Josef Ttek","startTime":68.459,"endTime":72.569,"body":"just butter. Sometimes I use"},{"speaker":"Josef Ttek","startTime":68.459,"endTime":72.569,"body":"ghee, the clarified butter."},{"speaker":"Josef Ttek","startTime":73.829,"endTime":77.549,"body":"Yeah. And it's very comfortable,"},{"speaker":"Josef Ttek","startTime":73.829,"endTime":77.549,"body":"as you said with the keto diet."},{"speaker":"Josef Ttek","startTime":78.119,"endTime":85.409,"body":"So I like to just keep it low"},{"speaker":"Josef Ttek","startTime":78.119,"endTime":85.409,"body":"carb, because that's how you can"},{"speaker":"Josef Ttek","startTime":85.409,"endTime":91.589,"body":"achieve great focus, great level"},{"speaker":"Josef Ttek","startTime":85.409,"endTime":91.589,"body":"of energy. And just focus on"},{"speaker":"Josef Ttek","startTime":91.619,"endTime":94.499,"body":"what's important, like Bitcoin"},{"speaker":"Josef Ttek","startTime":91.619,"endTime":94.499,"body":"and stuff."},{"speaker":"Matt Zahab","startTime":95.01,"endTime":96.93,"body":"I love that. What"},{"speaker":"Matt Zahab","startTime":95.01,"endTime":96.93,"body":"did you get on the keto diet?"},{"speaker":"Josef Ttek","startTime":96.0,"endTime":104.43,"body":"It's quite recent,"},{"speaker":"Josef Ttek","startTime":96.0,"endTime":104.43,"body":"maybe September 2020. of when I"},{"speaker":"Josef Ttek","startTime":104.43,"endTime":110.1,"body":"write like some stuff. So from"},{"speaker":"Josef Ttek","startTime":104.43,"endTime":110.1,"body":"Paul Saladino and Shaun Baker, I"},{"speaker":"Josef Ttek","startTime":110.1,"endTime":113.46,"body":"would recommend everyone to"},{"speaker":"Josef Ttek","startTime":110.1,"endTime":113.46,"body":"follow these guys and give a"},{"speaker":"Josef Ttek","startTime":113.49,"endTime":117.93,"body":"give a read of their books. And"},{"speaker":"Josef Ttek","startTime":113.49,"endTime":117.93,"body":"it's been great ever since."},{"speaker":"Josef Ttek","startTime":117.93,"endTime":123.69,"body":"Like, I always thought, my"},{"speaker":"Josef Ttek","startTime":117.93,"endTime":123.69,"body":"energy levels are like my own"},{"speaker":"Josef Ttek","startTime":124.05,"endTime":129.78,"body":"personal problem, but it's just"},{"speaker":"Josef Ttek","startTime":124.05,"endTime":129.78,"body":"an inappropriate diet,"},{"speaker":"Josef Ttek","startTime":129.81,"endTime":134.4,"body":"basically. So if you go for a"},{"speaker":"Josef Ttek","startTime":129.81,"endTime":134.4,"body":"low carb keto diet, you can"},{"speaker":"Josef Ttek","startTime":135.84,"endTime":140.25,"body":"majorly increase your energy"},{"speaker":"Josef Ttek","startTime":135.84,"endTime":140.25,"body":"levels and focus in such so it's"},{"speaker":"Josef Ttek","startTime":140.25,"endTime":142.26,"body":"great for everyone who wants to"},{"speaker":"Josef Ttek","startTime":140.25,"endTime":142.26,"body":"be productive."},{"speaker":"Matt Zahab","startTime":142.98,"endTime":145.56,"body":"I completely agree."},{"speaker":"Matt Zahab","startTime":142.98,"endTime":145.56,"body":"I've tried it myself right now I"},{"speaker":"Matt Zahab","startTime":145.56,"endTime":148.65,"body":"am consuming carbs. Just I'm"},{"speaker":"Matt Zahab","startTime":145.56,"endTime":148.65,"body":"trying to bulk a little bit I'm"},{"speaker":"Matt Zahab","startTime":148.65,"endTime":151.89,"body":"a bit of a milk bag right now"},{"speaker":"Matt Zahab","startTime":148.65,"endTime":151.89,"body":"haven't haven't really, you"},{"speaker":"Matt Zahab","startTime":151.89,"endTime":154.59,"body":"know, been working a lot"},{"speaker":"Matt Zahab","startTime":151.89,"endTime":154.59,"body":"definitely haven't been taken"},{"speaker":"Matt Zahab","startTime":155.58,"endTime":158.4,"body":"the type of care that I should"},{"speaker":"Matt Zahab","startTime":155.58,"endTime":158.4,"body":"be in regards to my body. But"},{"speaker":"Matt Zahab","startTime":158.82,"endTime":161.76,"body":"what about fasting ever mixing"},{"speaker":"Matt Zahab","startTime":158.82,"endTime":161.76,"body":"any fasting into the mix?"},{"speaker":"Josef Ttek","startTime":161.91,"endTime":165.33,"body":"Yeah, I do"},{"speaker":"Josef Ttek","startTime":161.91,"endTime":165.33,"body":"intermittent fasting 16, eight,"},{"speaker":"Josef Ttek","startTime":165.36,"endTime":171.0,"body":"or 18 six, about two or three"},{"speaker":"Josef Ttek","startTime":165.36,"endTime":171.0,"body":"times a week. And I like to"},{"speaker":"Josef Ttek","startTime":171.0,"endTime":177.09,"body":"finish that with a nice bowl of"},{"speaker":"Josef Ttek","startTime":171.0,"endTime":177.09,"body":"beef, basically, like, I like to"},{"speaker":"Josef Ttek","startTime":177.24,"endTime":185.52,"body":"slow cook my biscuits. So that's"},{"speaker":"Josef Ttek","startTime":177.24,"endTime":185.52,"body":"the, I really love those days"},{"speaker":"Josef Ttek","startTime":185.52,"endTime":191.88,"body":"when I'm fasting for 18 hours."},{"speaker":"Josef Ttek","startTime":185.52,"endTime":191.88,"body":"And then I finish with like two"},{"speaker":"Josef Ttek","startTime":191.88,"endTime":194.58,"body":"pounds of beef. That's really"},{"speaker":"Josef Ttek","startTime":191.88,"endTime":194.58,"body":"good."},{"speaker":"Matt Zahab","startTime":195.3,"endTime":198.15,"body":"That sounds tasty."},{"speaker":"Matt Zahab","startTime":195.3,"endTime":198.15,"body":"That sounds absolutely tasty."},{"speaker":"Matt Zahab","startTime":198.93,"endTime":202.56,"body":"I've been really excited for"},{"speaker":"Matt Zahab","startTime":198.93,"endTime":202.56,"body":"this one. You and your company,"},{"speaker":"Matt Zahab","startTime":202.68,"endTime":206.55,"body":"Satoshi labs and furthermore,"},{"speaker":"Matt Zahab","startTime":202.68,"endTime":206.55,"body":"Trezor, have done some"},{"speaker":"Matt Zahab","startTime":206.55,"endTime":209.52,"body":"incredible work in the space."},{"speaker":"Matt Zahab","startTime":206.55,"endTime":209.52,"body":"And we will jump into that"},{"speaker":"Matt Zahab","startTime":209.52,"endTime":212.91,"body":"later. But before we do I want"},{"speaker":"Matt Zahab","startTime":209.52,"endTime":212.91,"body":"to touch on an article that you"},{"speaker":"Matt Zahab","startTime":212.91,"endTime":216.63,"body":"wrote a couple days ago for"},{"speaker":"Matt Zahab","startTime":212.91,"endTime":216.63,"body":"Earth Day. This was a special"},{"speaker":"Matt Zahab","startTime":216.63,"endTime":221.04,"body":"article on trezors medium page"},{"speaker":"Matt Zahab","startTime":216.63,"endTime":221.04,"body":"that you wrote and it was titled"},{"speaker":"Matt Zahab","startTime":221.04,"endTime":225.42,"body":"the ecological impact of mining."},{"speaker":"Matt Zahab","startTime":221.04,"endTime":225.42,"body":"Well, it was actually titled Why"},{"speaker":"Matt Zahab","startTime":225.45,"endTime":229.77,"body":"bitcoins energy use will not"},{"speaker":"Matt Zahab","startTime":225.45,"endTime":229.77,"body":"destroy the planet. I took a"},{"speaker":"Matt Zahab","startTime":229.77,"endTime":233.37,"body":"deep dive into this. You also"},{"speaker":"Matt Zahab","startTime":229.77,"endTime":233.37,"body":"referenced a couple quotes and"},{"speaker":"Matt Zahab","startTime":233.37,"endTime":238.26,"body":"articles from Nick Carter, one"},{"speaker":"Matt Zahab","startTime":233.37,"endTime":238.26,"body":"of the Bitcoin goats, who is you"},{"speaker":"Matt Zahab","startTime":238.26,"endTime":240.72,"body":"know, done a lot of work in this"},{"speaker":"Matt Zahab","startTime":238.26,"endTime":240.72,"body":"space. I would love if we could"},{"speaker":"Matt Zahab","startTime":240.72,"endTime":245.22,"body":"start off by you telling our"},{"speaker":"Matt Zahab","startTime":240.72,"endTime":245.22,"body":"guests a little bit more about"},{"speaker":"Matt Zahab","startTime":245.25,"endTime":250.26,"body":"the farce of Bitcoin energy"},{"speaker":"Matt Zahab","startTime":245.25,"endTime":250.26,"body":"usage and how it really isn't"},{"speaker":"Matt Zahab","startTime":250.26,"endTime":251.22,"body":"that bad for the planet."},{"speaker":"Josef Ttek","startTime":251.27,"endTime":255.38,"body":"Sure. So the"},{"speaker":"Josef Ttek","startTime":251.27,"endTime":255.38,"body":"article was written as a kind of"},{"speaker":"Josef Ttek","startTime":255.41,"endTime":261.41,"body":"tribute to Nick Carter because I"},{"speaker":"Josef Ttek","startTime":255.41,"endTime":261.41,"body":"really respect the work he's"},{"speaker":"Josef Ttek","startTime":261.41,"endTime":267.98,"body":"putting in and just great. But"},{"speaker":"Josef Ttek","startTime":261.41,"endTime":267.98,"body":"one maybe tiny problem with Nick"},{"speaker":"Josef Ttek","startTime":267.98,"endTime":274.4,"body":"Carter is he's writing really"},{"speaker":"Josef Ttek","startTime":267.98,"endTime":274.4,"body":"deep dives into the topics. So"},{"speaker":"Josef Ttek","startTime":274.4,"endTime":279.92,"body":"just in the past like six weeks"},{"speaker":"Josef Ttek","startTime":274.4,"endTime":279.92,"body":"zero to three really long"},{"speaker":"Josef Ttek","startTime":280.01,"endTime":283.49,"body":"articles on the mining so I"},{"speaker":"Josef Ttek","startTime":280.01,"endTime":283.49,"body":"wanted to shorten it a little"},{"speaker":"Josef Ttek","startTime":283.49,"endTime":289.28,"body":"bit and make it like accessible"},{"speaker":"Josef Ttek","startTime":283.49,"endTime":289.28,"body":"for everyday reader. So it's a"},{"speaker":"Josef Ttek","startTime":289.43,"endTime":295.82,"body":"sort of TLDR of Nick Carter's"},{"speaker":"Josef Ttek","startTime":289.43,"endTime":295.82,"body":"arguments. Why Bitcoin isn't"},{"speaker":"Josef Ttek","startTime":295.82,"endTime":302.87,"body":"going to destroy the planet and"},{"speaker":"Josef Ttek","startTime":295.82,"endTime":302.87,"body":"like the gist of it is the"},{"speaker":"Josef Ttek","startTime":302.87,"endTime":309.23,"body":"critics are really just looking"},{"speaker":"Josef Ttek","startTime":302.87,"endTime":309.23,"body":"at the surface of the problem of"},{"speaker":"Josef Ttek","startTime":309.23,"endTime":313.79,"body":"Bitcoin mining. They are just"},{"speaker":"Josef Ttek","startTime":309.23,"endTime":313.79,"body":"printing out, Bitcoin is using a"},{"speaker":"Josef Ttek","startTime":313.79,"endTime":318.56,"body":"lot of energy and then they"},{"speaker":"Josef Ttek","startTime":313.79,"endTime":318.56,"body":"extrapolate on that. What if"},{"speaker":"Josef Ttek","startTime":318.56,"endTime":323.84,"body":"Bitcoin is used 10 or 100 times"},{"speaker":"Josef Ttek","startTime":318.56,"endTime":323.84,"body":"more likely to consume 10 or 100"},{"speaker":"Josef Ttek","startTime":323.84,"endTime":330.38,"body":"times more energy, which is like"},{"speaker":"Josef Ttek","startTime":323.84,"endTime":330.38,"body":"the first error in our thinking,"},{"speaker":"Josef Ttek","startTime":330.41,"endTime":335.57,"body":"because you cannot actually"},{"speaker":"Josef Ttek","startTime":330.41,"endTime":335.57,"body":"extrapolate today's energy"},{"speaker":"Josef Ttek","startTime":335.57,"endTime":341.33,"body":"consumption to tomorrow's"},{"speaker":"Josef Ttek","startTime":335.57,"endTime":341.33,"body":"possible volume of transactions,"},{"speaker":"Josef Ttek","startTime":341.45,"endTime":346.85,"body":"just Bitcoin just doesn't work"},{"speaker":"Josef Ttek","startTime":341.45,"endTime":346.85,"body":"like that. So, you, as I say,"},{"speaker":"Josef Ttek","startTime":346.88,"endTime":350.57,"body":"you have to understand what"},{"speaker":"Josef Ttek","startTime":346.88,"endTime":350.57,"body":"you're extrapolating. And there"},{"speaker":"Josef Ttek","startTime":350.57,"endTime":354.05,"body":"is no power transaction or"},{"speaker":"Josef Ttek","startTime":350.57,"endTime":354.05,"body":"energy cost in Bitcoin, because"},{"speaker":"Josef Ttek","startTime":354.32,"endTime":360.83,"body":"the energy cost comes from two"},{"speaker":"Josef Ttek","startTime":354.32,"endTime":360.83,"body":"blocks themselves. So yeah,"},{"speaker":"Josef Ttek","startTime":360.86,"endTime":370.01,"body":"that's like, one sort of it. And"},{"speaker":"Josef Ttek","startTime":360.86,"endTime":370.01,"body":"I think the most important thing"},{"speaker":"Josef Ttek","startTime":370.01,"endTime":375.56,"body":"about Bitcoin mining case,"},{"speaker":"Josef Ttek","startTime":370.01,"endTime":375.56,"body":"Bitcoin miners are always"},{"speaker":"Josef Ttek","startTime":375.56,"endTime":378.74,"body":"looking for the cheapest source"},{"speaker":"Josef Ttek","startTime":375.56,"endTime":378.74,"body":"of energy. And the cheapest"},{"speaker":"Josef Ttek","startTime":378.74,"endTime":383.84,"body":"source of energy is an energy"},{"speaker":"Josef Ttek","startTime":378.74,"endTime":383.84,"body":"that would otherwise be wasted,"},{"speaker":"Josef Ttek","startTime":384.2,"endTime":391.37,"body":"or unused. And if you look at"},{"speaker":"Josef Ttek","startTime":384.2,"endTime":391.37,"body":"like the real world what the"},{"speaker":"Josef Ttek","startTime":391.37,"endTime":397.76,"body":"Bitcoin miners are doing is they"},{"speaker":"Josef Ttek","startTime":391.37,"endTime":397.76,"body":"are, for example, using natural"},{"speaker":"Josef Ttek","startTime":397.76,"endTime":403.82,"body":"gas at Oryx, and using the"},{"speaker":"Josef Ttek","startTime":397.76,"endTime":403.82,"body":"natural gas that would otherwise"},{"speaker":"Josef Ttek","startTime":403.82,"endTime":408.65,"body":"be vented or flared, as an"},{"speaker":"Josef Ttek","startTime":403.82,"endTime":408.65,"body":"energy source for Bitcoin"},{"speaker":"Josef Ttek","startTime":408.65,"endTime":413.66,"body":"miners. And actually, this is"},{"speaker":"Josef Ttek","startTime":408.65,"endTime":413.66,"body":"much more ecological. If you use"},{"speaker":"Josef Ttek","startTime":413.69,"endTime":420.35,"body":"the natural gas as a combustion"},{"speaker":"Josef Ttek","startTime":413.69,"endTime":420.35,"body":"engine, and use it as a source"},{"speaker":"Josef Ttek","startTime":420.35,"endTime":425.42,"body":"of energy, then flaring the gas"},{"speaker":"Josef Ttek","startTime":420.35,"endTime":425.42,"body":"or just venting it into the"},{"speaker":"Josef Ttek","startTime":425.42,"endTime":431.15,"body":"atmosphere, because natural gas"},{"speaker":"Josef Ttek","startTime":425.42,"endTime":431.15,"body":"is mostly methane. So it's"},{"speaker":"Josef Ttek","startTime":431.42,"endTime":436.19,"body":"really bad for the planet. And"},{"speaker":"Josef Ttek","startTime":431.42,"endTime":436.19,"body":"using it as a green source of"},{"speaker":"Josef Ttek","startTime":436.19,"endTime":440.51,"body":"energy is much, much better and"},{"speaker":"Josef Ttek","startTime":436.19,"endTime":440.51,"body":"Bitcoin is the greatest"},{"speaker":"Josef Ttek","startTime":440.51,"endTime":447.14,"body":"incentive to look for device to"},{"speaker":"Josef Ttek","startTime":440.51,"endTime":447.14,"body":"utilize these stranded sources"},{"speaker":"Josef Ttek","startTime":447.14,"endTime":452.21,"body":"of energy. So basically, you"},{"speaker":"Josef Ttek","startTime":447.14,"endTime":452.21,"body":"have to just understand what"},{"speaker":"Josef Ttek","startTime":452.36,"endTime":456.14,"body":"you're talking about when it"},{"speaker":"Josef Ttek","startTime":452.36,"endTime":456.14,"body":"comes to Bitcoin mining. And you"},{"speaker":"Josef Ttek","startTime":456.14,"endTime":461.81,"body":"have to look at the real world"},{"speaker":"Josef Ttek","startTime":456.14,"endTime":461.81,"body":"data to understand how Bitcoin"},{"speaker":"Josef Ttek","startTime":461.81,"endTime":463.85,"body":"actually affects ecology."},{"speaker":"Matt Zahab","startTime":464.16,"endTime":466.14,"body":"Can you take a"},{"speaker":"Matt Zahab","startTime":464.16,"endTime":466.14,"body":"little deep dive into the"},{"speaker":"Matt Zahab","startTime":466.14,"endTime":469.53,"body":"difference of on grid energy"},{"speaker":"Matt Zahab","startTime":466.14,"endTime":469.53,"body":"versus off grid energy?"},{"speaker":"Josef Ttek","startTime":470.62,"endTime":475.27,"body":"Yeah, so the on"},{"speaker":"Josef Ttek","startTime":470.62,"endTime":475.27,"body":"grid energy, let's say there's a"},{"speaker":"Josef Ttek","startTime":475.27,"endTime":481.99,"body":"power plant that's connected to"},{"speaker":"Josef Ttek","startTime":475.27,"endTime":481.99,"body":"the National Grid so it's cool."},{"speaker":"Josef Ttek","startTime":482.23,"endTime":487.33,"body":"But sometimes there's a mismatch"},{"speaker":"Josef Ttek","startTime":482.23,"endTime":487.33,"body":"between the supply and demand"},{"speaker":"Josef Ttek","startTime":487.33,"endTime":494.92,"body":"for energy. This can happen with"},{"speaker":"Josef Ttek","startTime":487.33,"endTime":494.92,"body":"like fossil fuel power plants,"},{"speaker":"Josef Ttek","startTime":494.92,"endTime":500.98,"body":"like coal power plants, or it"},{"speaker":"Josef Ttek","startTime":494.92,"endTime":500.98,"body":"can happen with renewables. So"},{"speaker":"Josef Ttek","startTime":500.98,"endTime":504.61,"body":"if the demand is slow, you"},{"speaker":"Josef Ttek","startTime":500.98,"endTime":504.61,"body":"cannot actually shut off the"},{"speaker":"Josef Ttek","startTime":504.61,"endTime":508.63,"body":"power plant fast or if the"},{"speaker":"Josef Ttek","startTime":504.61,"endTime":508.63,"body":"production is high with like"},{"speaker":"Josef Ttek","startTime":508.63,"endTime":512.59,"body":"with renewables. When the wind"},{"speaker":"Josef Ttek","startTime":508.63,"endTime":512.59,"body":"is blowing, or the sun is"},{"speaker":"Josef Ttek","startTime":512.59,"endTime":517.99,"body":"shining, or there's the rainy"},{"speaker":"Josef Ttek","startTime":512.59,"endTime":517.99,"body":"season in China, you have to"},{"speaker":"Josef Ttek","startTime":517.99,"endTime":523.18,"body":"curtail these sources of energy."},{"speaker":"Josef Ttek","startTime":517.99,"endTime":523.18,"body":"So it goes to waste. So"},{"speaker":"Josef Ttek","startTime":523.21,"endTime":527.5,"body":"basically, the problem also with"},{"speaker":"Josef Ttek","startTime":523.21,"endTime":527.5,"body":"on grid energy is, if you are in"},{"speaker":"Josef Ttek","startTime":527.5,"endTime":531.58,"body":"some remote location, it's"},{"speaker":"Josef Ttek","startTime":527.5,"endTime":531.58,"body":"expensive to send the energy to"},{"speaker":"Josef Ttek","startTime":531.58,"endTime":536.35,"body":"some faraway population center."},{"speaker":"Josef Ttek","startTime":531.58,"endTime":536.35,"body":"And this is what's basically"},{"speaker":"Josef Ttek","startTime":536.35,"endTime":541.66,"body":"happening in China and why"},{"speaker":"Josef Ttek","startTime":536.35,"endTime":541.66,"body":"Bitcoin mining is still so so"},{"speaker":"Josef Ttek","startTime":541.66,"endTime":545.95,"body":"concentrated in China, because"},{"speaker":"Josef Ttek","startTime":541.66,"endTime":545.95,"body":"in the provinces, where Bitcoin"},{"speaker":"Josef Ttek","startTime":545.95,"endTime":552.16,"body":"is mined, mostly in China, they"},{"speaker":"Josef Ttek","startTime":545.95,"endTime":552.16,"body":"have these like large power"},{"speaker":"Josef Ttek","startTime":552.16,"endTime":556.66,"body":"sources, which are under"},{"speaker":"Josef Ttek","startTime":552.16,"endTime":556.66,"body":"utilized so the energy in there"},{"speaker":"Josef Ttek","startTime":556.66,"endTime":562.09,"body":"is pretty cheap. And Bitcoin"},{"speaker":"Josef Ttek","startTime":556.66,"endTime":562.09,"body":"miners are increasing the"},{"speaker":"Josef Ttek","startTime":562.09,"endTime":566.17,"body":"efficiency of energy production"},{"speaker":"Josef Ttek","startTime":562.09,"endTime":566.17,"body":"because they are taking the"},{"speaker":"Josef Ttek","startTime":566.17,"endTime":571.57,"body":"overproduction of... So enter"},{"speaker":"Josef Ttek","startTime":566.17,"endTime":571.57,"body":"the off grid energy. The off"},{"speaker":"Josef Ttek","startTime":571.57,"endTime":576.37,"body":"grid energy is basically this"},{"speaker":"Josef Ttek","startTime":571.57,"endTime":576.37,"body":"trended energy that's, for"},{"speaker":"Josef Ttek","startTime":576.37,"endTime":580.87,"body":"example, natural gas at oil"},{"speaker":"Josef Ttek","startTime":576.37,"endTime":580.87,"body":"rates, which would otherwise be"},{"speaker":"Josef Ttek","startTime":581.05,"endTime":582.64,"body":"flat or rented."},{"speaker":"Matt Zahab","startTime":583.0,"endTime":585.94,"body":"Thank you for that."},{"speaker":"Matt Zahab","startTime":583.0,"endTime":585.94,"body":"And how does how does a country"},{"speaker":"Matt Zahab","startTime":585.94,"endTime":589.21,"body":"like the United States of"},{"speaker":"Matt Zahab","startTime":585.94,"endTime":589.21,"body":"America or a continent like"},{"speaker":"Matt Zahab","startTime":589.21,"endTime":594.19,"body":"Europe or country like Canada,"},{"speaker":"Matt Zahab","startTime":589.21,"endTime":594.19,"body":"how would one of those get a leg"},{"speaker":"Matt Zahab","startTime":594.19,"endTime":597.46,"body":"up and really try to make some"},{"speaker":"Matt Zahab","startTime":594.19,"endTime":597.46,"body":"move in the space and catch up"},{"speaker":"Matt Zahab","startTime":597.46,"endTime":600.13,"body":"to China in regards to the"},{"speaker":"Matt Zahab","startTime":597.46,"endTime":600.13,"body":"Bitcoin mining that they are"},{"speaker":"Matt Zahab","startTime":600.13,"endTime":602.14,"body":"doing at the moment. Is that"},{"speaker":"Matt Zahab","startTime":600.13,"endTime":602.14,"body":"possible?"},{"speaker":"Josef Ttek","startTime":602.0,"endTime":604.79,"body":"I think it's"},{"speaker":"Josef Ttek","startTime":602.0,"endTime":604.79,"body":"already happening. I've seen"},{"speaker":"Matt Zahab","startTime":602.75,"endTime":618.56,"body":"Well, that's, I"},{"speaker":"Matt Zahab","startTime":602.75,"endTime":618.56,"body":"never really thought about it"},{"speaker":"Matt Zahab","startTime":605.33,"endTime":612.59,"body":"some numbers on who are the"},{"speaker":"Matt Zahab","startTime":605.33,"endTime":612.59,"body":"biggest clients for new async"},{"speaker":"Matt Zahab","startTime":612.59,"endTime":619.37,"body":"chips. And although, it's still"},{"speaker":"Matt Zahab","startTime":612.59,"endTime":619.37,"body":"mostly produced in China, the"},{"speaker":"Matt Zahab","startTime":619.37,"endTime":625.67,"body":"asyncs, the biggest clients are"},{"speaker":"Matt Zahab","startTime":619.37,"endTime":625.67,"body":"in I think North America. So"},{"speaker":"Matt Zahab","startTime":621.38,"endTime":633.44,"body":"that way. That's really thought"},{"speaker":"Matt Zahab","startTime":621.38,"endTime":633.44,"body":"provoking. A couple more"},{"speaker":"Matt Zahab","startTime":625.88,"endTime":630.98,"body":"it's it's already happening. And"},{"speaker":"Matt Zahab","startTime":625.88,"endTime":630.98,"body":"there are like multiple"},{"speaker":"Matt Zahab","startTime":631.46,"endTime":637.46,"body":"cooperatives emerging where the"},{"speaker":"Matt Zahab","startTime":631.46,"endTime":637.46,"body":"energy producers like local"},{"speaker":"Matt Zahab","startTime":633.44,"endTime":677.96,"body":"questions on the topic of"},{"speaker":"Matt Zahab","startTime":633.44,"endTime":677.96,"body":"Bitcoin mining and bitcoins"},{"speaker":"Matt Zahab","startTime":637.46,"endTime":642.56,"body":"power plants are entering"},{"speaker":"Matt Zahab","startTime":637.46,"endTime":642.56,"body":"partnerships with Bitcoin"},{"speaker":"Matt Zahab","startTime":642.56,"endTime":648.38,"body":"miners, because they see this"},{"speaker":"Matt Zahab","startTime":642.56,"endTime":648.38,"body":"potential for increased"},{"speaker":"Matt Zahab","startTime":648.44,"endTime":652.67,"body":"efficiency of energy production."},{"speaker":"Matt Zahab","startTime":648.44,"endTime":652.67,"body":"So this is already happeni"},{"speaker":"Matt Zahab","startTime":652.67,"endTime":659.18,"body":"g. And since Europe is moving"},{"speaker":"Matt Zahab","startTime":652.67,"endTime":659.18,"body":"or the renewables in the coming"},{"speaker":"Matt Zahab","startTime":659.18,"endTime":663.74,"body":"ecade, and it's already been ha"},{"speaker":"Matt Zahab","startTime":659.18,"endTime":663.74,"body":"pening, of Bitcoin mining"},{"speaker":"Matt Zahab","startTime":663.74,"endTime":667.55,"body":"s something that can really"},{"speaker":"Matt Zahab","startTime":663.74,"endTime":667.55,"body":"elp there because renewab"},{"speaker":"Matt Zahab","startTime":667.76,"endTime":672.2,"body":"es have the problem with unpredi"},{"speaker":"Matt Zahab","startTime":667.76,"endTime":672.2,"body":"table production, basical"},{"speaker":"Matt Zahab","startTime":672.2,"endTime":677.96,"body":"y, that can easily oversho"},{"speaker":"Matt Zahab","startTime":672.2,"endTime":677.96,"body":"t the demand and Bitcoin miners"},{"speaker":"Matt Zahab","startTime":678.62,"endTime":684.05,"body":"an help with that they can con"},{"speaker":"Matt Zahab","startTime":678.62,"endTime":684.05,"body":"ume the energy when the energy"},{"speaker":"Matt Zahab","startTime":682.37,"endTime":697.4,"body":"energy use before we jump into"},{"speaker":"Matt Zahab","startTime":682.37,"endTime":697.4,"body":"the the bread and butter being"},{"speaker":"Matt Zahab","startTime":684.05,"endTime":685.97,"body":"s cheap when it's over produce"},{"speaker":"Matt Zahab","startTime":684.05,"endTime":685.97,"body":"."},{"speaker":"Matt Zahab","startTime":697.4,"endTime":701.81,"body":"Satoshi labs and the Trezor"},{"speaker":"Matt Zahab","startTime":697.4,"endTime":701.81,"body":"wallets. Who are the"},{"speaker":"Matt Zahab","startTime":701.81,"endTime":705.35,"body":"organizations and the groups and"},{"speaker":"Matt Zahab","startTime":701.81,"endTime":705.35,"body":"the lobbyists that are really"},{"speaker":"Matt Zahab","startTime":705.35,"endTime":709.82,"body":"pushing this Bitcoin energy use"},{"speaker":"Matt Zahab","startTime":705.35,"endTime":709.82,"body":"narrative and how it's, you"},{"speaker":"Matt Zahab","startTime":709.82,"endTime":713.42,"body":"know, the worst thing ever for"},{"speaker":"Matt Zahab","startTime":709.82,"endTime":713.42,"body":"the environment? What groups are"},{"speaker":"Matt Zahab","startTime":713.42,"endTime":714.62,"body":"really pulling those strings?"},{"speaker":"Josef Ttek","startTime":715.02,"endTime":719.61,"body":"Hmm, that's a good"},{"speaker":"Josef Ttek","startTime":715.02,"endTime":719.61,"body":"question. I think like, some of"},{"speaker":"Josef Ttek","startTime":719.61,"endTime":724.86,"body":"it is part of a general"},{"speaker":"Josef Ttek","startTime":719.61,"endTime":724.86,"body":"misunderstanding of Bitcoin and"},{"speaker":"Josef Ttek","startTime":724.89,"endTime":731.82,"body":"distaste of Bitcoin as non state"},{"speaker":"Josef Ttek","startTime":724.89,"endTime":731.82,"body":"neutral currency or money. And"},{"speaker":"Josef Ttek","startTime":731.82,"endTime":737.61,"body":"so it's heavily pushed by"},{"speaker":"Josef Ttek","startTime":731.82,"endTime":737.61,"body":"journalists that either they"},{"speaker":"Josef Ttek","startTime":737.61,"endTime":742.14,"body":"don't do their homework, or they"},{"speaker":"Josef Ttek","startTime":737.61,"endTime":742.14,"body":"are intentionally trying to"},{"speaker":"Josef Ttek","startTime":742.53,"endTime":746.91,"body":"confuse the readers and give"},{"speaker":"Josef Ttek","startTime":742.53,"endTime":746.91,"body":"them some ammunition for"},{"speaker":"Josef Ttek","startTime":746.91,"endTime":750.57,"body":"criticism, which isn't"},{"speaker":"Josef Ttek","startTime":746.91,"endTime":750.57,"body":"necessarily fact based. We've"},{"speaker":"Josef Ttek","startTime":750.57,"endTime":755.01,"body":"seen this recently with the New"},{"speaker":"Josef Ttek","startTime":750.57,"endTime":755.01,"body":"York Times and Nick Carter's"},{"speaker":"Josef Ttek","startTime":755.01,"endTime":760.92,"body":"article, like the most recent"},{"speaker":"Josef Ttek","startTime":755.01,"endTime":760.92,"body":"one on ecology of mind, and this"},{"speaker":"Josef Ttek","startTime":761.01,"endTime":764.49,"body":"is a critique of the New York"},{"speaker":"Josef Ttek","startTime":761.01,"endTime":764.49,"body":"Times piece. And he just"},{"speaker":"Josef Ttek","startTime":764.49,"endTime":767.61,"body":"completely destroyed that"},{"speaker":"Josef Ttek","startTime":764.49,"endTime":767.61,"body":"because it was so full of"},{"speaker":"Josef Ttek","startTime":767.61,"endTime":775.29,"body":"errors. And I don't think like,"},{"speaker":"Josef Ttek","startTime":767.61,"endTime":775.29,"body":"the paper and the journalist"},{"speaker":"Josef Ttek","startTime":776.13,"endTime":780.96,"body":"didn't know it's full of errors,"},{"speaker":"Josef Ttek","startTime":776.13,"endTime":780.96,"body":"or that it's dishonest. I think"},{"speaker":"Josef Ttek","startTime":780.96,"endTime":785.55,"body":"they know better than that, and"},{"speaker":"Josef Ttek","startTime":780.96,"endTime":785.55,"body":"they can do your research. So we"},{"speaker":"Josef Ttek","startTime":785.55,"endTime":788.7,"body":"are part of it is definitely"},{"speaker":"Josef Ttek","startTime":785.55,"endTime":788.7,"body":"political. I would say."},{"speaker":"Matt Zahab","startTime":788.91,"endTime":791.43,"body":"That it is a hot"},{"speaker":"Matt Zahab","startTime":788.91,"endTime":791.43,"body":"topic that, you know, I'm sure"},{"speaker":"Matt Zahab","startTime":791.97,"endTime":794.79,"body":"when the New York Times, post an"},{"speaker":"Matt Zahab","startTime":791.97,"endTime":794.79,"body":"article like that they"},{"speaker":"Matt Zahab","startTime":794.79,"endTime":798.33,"body":"definitely get a bunch of views"},{"speaker":"Matt Zahab","startTime":794.79,"endTime":798.33,"body":"as everyone and their cousins do"},{"speaker":"Matt Zahab","startTime":798.33,"endTime":800.76,"body":"care about Bitcoin, and"},{"speaker":"Matt Zahab","startTime":798.33,"endTime":800.76,"body":"especially the ecological"},{"speaker":"Matt Zahab","startTime":800.76,"endTime":806.31,"body":"impact. I guess last thing on"},{"speaker":"Matt Zahab","startTime":800.76,"endTime":806.31,"body":"the Bitcoin energy usage, and"},{"speaker":"Matt Zahab","startTime":806.34,"endTime":809.01,"body":"I've heard a lot of different"},{"speaker":"Matt Zahab","startTime":806.34,"endTime":809.01,"body":"stories about this, let's talk"},{"speaker":"Matt Zahab","startTime":809.01,"endTime":812.01,"body":"about the recent drop in bitcoin"},{"speaker":"Matt Zahab","startTime":809.01,"endTime":812.01,"body":"price. I know a lot of that was"},{"speaker":"Matt Zahab","startTime":812.01,"endTime":817.11,"body":"attributed to the power grid"},{"speaker":"Matt Zahab","startTime":812.01,"endTime":817.11,"body":"going off in that city in China,"},{"speaker":"Matt Zahab","startTime":817.92,"endTime":821.31,"body":"that really made the hash rate,"},{"speaker":"Matt Zahab","startTime":817.92,"endTime":821.31,"body":"take a plunge, and that"},{"speaker":"Matt Zahab","startTime":821.34,"endTime":824.22,"body":"obviously affected the price of"},{"speaker":"Matt Zahab","startTime":821.34,"endTime":824.22,"body":"bitcoin. What's your take on"},{"speaker":"Matt Zahab","startTime":824.22,"endTime":827.13,"body":"that? And is that actually true?"},{"speaker":"Matt Zahab","startTime":824.22,"endTime":827.13,"body":"Or is that just a farce?"},{"speaker":"Josef Ttek","startTime":827.48,"endTime":832.55,"body":"Well, you know,"},{"speaker":"Josef Ttek","startTime":827.48,"endTime":832.55,"body":"every time Bitcoin drops or goes"},{"speaker":"Josef Ttek","startTime":832.55,"endTime":837.59,"body":"into array, you can always find"},{"speaker":"Josef Ttek","startTime":832.55,"endTime":837.59,"body":"some narrative that seems to fit"},{"speaker":"Josef Ttek","startTime":837.59,"endTime":843.2,"body":"it. I don't think it's that much"},{"speaker":"Josef Ttek","startTime":837.59,"endTime":843.2,"body":"related to the hash rate drop."},{"speaker":"Josef Ttek","startTime":844.34,"endTime":848.09,"body":"Or if it was, the prices"},{"speaker":"Josef Ttek","startTime":844.34,"endTime":848.09,"body":"basically back where it was like"},{"speaker":"Josef Ttek","startTime":848.09,"endTime":857.03,"body":"a few weeks ago, so who knows? I"},{"speaker":"Josef Ttek","startTime":848.09,"endTime":857.03,"body":"think, like the short drop was a"},{"speaker":"Josef Ttek","startTime":857.03,"endTime":862.37,"body":"good experiment. Somebody"},{"speaker":"Josef Ttek","startTime":857.03,"endTime":862.37,"body":"described it as a natural"},{"speaker":"Josef Ttek","startTime":862.37,"endTime":867.08,"body":"experiment, which fits quite"},{"speaker":"Josef Ttek","startTime":862.37,"endTime":867.08,"body":"nicely. And we've seen that the"},{"speaker":"Josef Ttek","startTime":867.08,"endTime":871.52,"body":"free market works had a few"},{"speaker":"Josef Ttek","startTime":867.08,"endTime":871.52,"body":"rates shot up higher, and you"},{"speaker":"Josef Ttek","startTime":871.52,"endTime":875.06,"body":"had to pay if you wanted to get"},{"speaker":"Josef Ttek","startTime":871.52,"endTime":875.06,"body":"into the next block, which is"},{"speaker":"Josef Ttek","startTime":875.06,"endTime":878.96,"body":"how Bitcoin is supposed to work."},{"speaker":"Josef Ttek","startTime":875.06,"endTime":878.96,"body":"And the incentive for the miners"},{"speaker":"Josef Ttek","startTime":878.96,"endTime":884.24,"body":"to rejoin or startup their new"},{"speaker":"Josef Ttek","startTime":878.96,"endTime":884.24,"body":"miners was much higher back"},{"speaker":"Josef Ttek","startTime":884.24,"endTime":889.82,"body":"then. So that's good. That's"},{"speaker":"Josef Ttek","startTime":884.24,"endTime":889.82,"body":"good. Yeah, I don't read that"},{"speaker":"Josef Ttek","startTime":889.82,"endTime":898.34,"body":"much into it. Like I never know"},{"speaker":"Josef Ttek","startTime":889.82,"endTime":898.34,"body":"when the price drops or rises on"},{"speaker":"Josef Ttek","startTime":898.34,"endTime":903.02,"body":"the short term was the cause."},{"speaker":"Josef Ttek","startTime":898.34,"endTime":903.02,"body":"It's, you know, it's just more"},{"speaker":"Josef Ttek","startTime":903.02,"endTime":906.53,"body":"people are buying or selling at"},{"speaker":"Josef Ttek","startTime":903.02,"endTime":906.53,"body":"the moment. And they have their"},{"speaker":"Josef Ttek","startTime":906.53,"endTime":909.68,"body":"own reasons for it."},{"speaker":"Matt Zahab","startTime":910.49,"endTime":915.11,"body":"Right, interesting."},{"speaker":"Matt Zahab","startTime":910.49,"endTime":915.11,"body":"Let's, I really want to talk"},{"speaker":"Matt Zahab","startTime":915.11,"endTime":919.4,"body":"about Trezor and Satoshi labs as"},{"speaker":"Matt Zahab","startTime":915.11,"endTime":919.4,"body":"a whole. Not a lot of people"},{"speaker":"Matt Zahab","startTime":919.4,"endTime":924.86,"body":"know that Trezor is owned by"},{"speaker":"Matt Zahab","startTime":919.4,"endTime":924.86,"body":"Satoshi labs, the company that"},{"speaker":"Matt Zahab","startTime":925.07,"endTime":928.94,"body":"invented and created the Trezor"},{"speaker":"Matt Zahab","startTime":925.07,"endTime":928.94,"body":"which is probably the world's"},{"speaker":"Matt Zahab","startTime":929.18,"endTime":931.88,"body":"most famous hardware wallet,"},{"speaker":"Matt Zahab","startTime":929.18,"endTime":931.88,"body":"definitely a world class"},{"speaker":"Matt Zahab","startTime":931.88,"endTime":935.33,"body":"hardware wallet, and really"},{"speaker":"Matt Zahab","startTime":931.88,"endTime":935.33,"body":"pioneered the space. I love if"},{"speaker":"Matt Zahab","startTime":935.33,"endTime":939.68,"body":"you could give me a little full"},{"speaker":"Matt Zahab","startTime":935.33,"endTime":939.68,"body":"history lesson in regards to"},{"speaker":"Matt Zahab","startTime":939.68,"endTime":943.52,"body":"Trezor and Satoshi labs, and"},{"speaker":"Matt Zahab","startTime":939.68,"endTime":943.52,"body":"then we'll get into some of the"},{"speaker":"Matt Zahab","startTime":943.52,"endTime":944.12,"body":"nitty gritty."},{"speaker":"Josef Ttek","startTime":944.6,"endTime":949.91,"body":"Sure. So yeah,"},{"speaker":"Josef Ttek","startTime":944.6,"endTime":949.91,"body":"Trezor is the world's first"},{"speaker":"Josef Ttek","startTime":949.94,"endTime":956.42,"body":"hardware wallet and it was"},{"speaker":"Josef Ttek","startTime":949.94,"endTime":956.42,"body":"invented by two guys Slush and"},{"speaker":"Josef Ttek","startTime":956.42,"endTime":960.44,"body":"Stick they are Czech and Slovak"},{"speaker":"Josef Ttek","startTime":956.42,"endTime":960.44,"body":"respectively. And Slush and"},{"speaker":"Josef Ttek","startTime":960.44,"endTime":967.31,"body":"stick were the early adopters of"},{"speaker":"Josef Ttek","startTime":960.44,"endTime":967.31,"body":"Bitcoin in like 2011. Slush,"},{"speaker":"Josef Ttek","startTime":968.24,"endTime":973.52,"body":"actually came up with the first"},{"speaker":"Josef Ttek","startTime":968.24,"endTime":973.52,"body":"mining tool, the Slush pool. So"},{"speaker":"Josef Ttek","startTime":973.52,"endTime":978.38,"body":"he's like a double inventor, he"},{"speaker":"Josef Ttek","startTime":973.52,"endTime":978.38,"body":"invented the mining and later on"},{"speaker":"Josef Ttek","startTime":978.38,"endTime":983.84,"body":"the Trezor and Slush and Stick"},{"speaker":"Josef Ttek","startTime":978.38,"endTime":983.84,"body":"were basically trying to solve"},{"speaker":"Josef Ttek","startTime":984.14,"endTime":988.19,"body":"the common problem because they"},{"speaker":"Josef Ttek","startTime":984.14,"endTime":988.19,"body":"were evangelizing Bitcoin to"},{"speaker":"Josef Ttek","startTime":988.19,"endTime":995.78,"body":"their friends early on, like"},{"speaker":"Josef Ttek","startTime":988.19,"endTime":995.78,"body":"this is years 2011 2012. And"},{"speaker":"Josef Ttek","startTime":995.81,"endTime":999.8,"body":"they found out there's no"},{"speaker":"Josef Ttek","startTime":995.81,"endTime":999.8,"body":"existing infrastructure for"},{"speaker":"Josef Ttek","startTime":999.8,"endTime":1004.09,"body":"Bitcoin safekeeping, if you are"},{"speaker":"Josef Ttek","startTime":999.8,"endTime":1004.09,"body":"like, non technical guy, because"},{"speaker":"Josef Ttek","startTime":1004.09,"endTime":1009.16,"body":"if you are a technical guy, you"},{"speaker":"Josef Ttek","startTime":1004.09,"endTime":1009.16,"body":"can securely boot up Linux"},{"speaker":"Josef Ttek","startTime":1009.16,"endTime":1014.2,"body":"laptop, or flash drive and"},{"speaker":"Josef Ttek","startTime":1009.16,"endTime":1014.2,"body":"search and keep it totally air"},{"speaker":"Josef Ttek","startTime":1014.2,"endTime":1019.48,"body":"gapped and store your bitcoins"},{"speaker":"Josef Ttek","startTime":1014.2,"endTime":1019.48,"body":"that way. But it wasn't doable"},{"speaker":"Josef Ttek","startTime":1019.54,"endTime":1025.75,"body":"if Bitcoin is going to take off."},{"speaker":"Josef Ttek","startTime":1019.54,"endTime":1025.75,"body":"So they basically met at one"},{"speaker":"Josef Ttek","startTime":1025.75,"endTime":1029.89,"body":"Prague hackerspace, was called"},{"speaker":"Josef Ttek","startTime":1025.75,"endTime":1029.89,"body":"Bromley up. And they started"},{"speaker":"Josef Ttek","startTime":1029.89,"endTime":1033.55,"body":"working on the prototype for the"},{"speaker":"Josef Ttek","startTime":1029.89,"endTime":1033.55,"body":"hardware wallet. And one of the"},{"speaker":"Josef Ttek","startTime":1033.55,"endTime":1039.25,"body":"goals was, the hardware wallet"},{"speaker":"Josef Ttek","startTime":1033.55,"endTime":1039.25,"body":"has to be like a standalone"},{"speaker":"Josef Ttek","startTime":1039.25,"endTime":1047.11,"body":"device that should be usable by"},{"speaker":"Josef Ttek","startTime":1039.25,"endTime":1047.11,"body":"non technical guys and gals. And"},{"speaker":"Josef Ttek","startTime":1047.83,"endTime":1051.76,"body":"it also should be affordable,"},{"speaker":"Josef Ttek","startTime":1047.83,"endTime":1051.76,"body":"like it shouldn't be $1,000 or"},{"speaker":"Josef Ttek","startTime":1051.76,"endTime":1056.65,"body":"something. So like usable"},{"speaker":"Josef Ttek","startTime":1051.76,"endTime":1056.65,"body":"security has always been the"},{"speaker":"Josef Ttek","startTime":1056.65,"endTime":1062.86,"body":"goal for Trezor. And the first"},{"speaker":"Josef Ttek","startTime":1056.65,"endTime":1062.86,"body":"prototype was announced in 2012"},{"speaker":"Josef Ttek","startTime":1062.89,"endTime":1068.17,"body":"on the Bitcoin talk forum."},{"speaker":"Josef Ttek","startTime":1062.89,"endTime":1068.17,"body":"Later, in 2013, there was"},{"speaker":"Josef Ttek","startTime":1068.44,"endTime":1072.67,"body":"crowdfunding for the hope for"},{"speaker":"Josef Ttek","startTime":1068.44,"endTime":1072.67,"body":"the wallet. And first results"},{"speaker":"Josef Ttek","startTime":1072.67,"endTime":1079.72,"body":"were sent to consumers also in"},{"speaker":"Josef Ttek","startTime":1072.67,"endTime":1079.72,"body":"2013. Yeah, one interesting"},{"speaker":"Josef Ttek","startTime":1079.72,"endTime":1086.89,"body":"thing, maybe about Trezor or and"},{"speaker":"Josef Ttek","startTime":1079.72,"endTime":1086.89,"body":"Satoshi Labs is it's completely"},{"speaker":"Josef Ttek","startTime":1087.88,"endTime":1093.4,"body":"privately owned by Slush and"},{"speaker":"Josef Ttek","startTime":1087.88,"endTime":1093.4,"body":"Stake. And there were never any"},{"speaker":"Josef Ttek","startTime":1093.43,"endTime":1098.95,"body":"venture capital investors just"},{"speaker":"Josef Ttek","startTime":1093.43,"endTime":1098.95,"body":"which allowed the founders to"},{"speaker":"Josef Ttek","startTime":1099.01,"endTime":1104.47,"body":"keep true to their vision to"},{"speaker":"Josef Ttek","startTime":1099.01,"endTime":1104.47,"body":"build the Trezor hardware wallet"},{"speaker":"Josef Ttek","startTime":1104.68,"endTime":1110.83,"body":"in an open source manner. And to"},{"speaker":"Josef Ttek","startTime":1104.68,"endTime":1110.83,"body":"make it usable and secure for"},{"speaker":"Josef Ttek","startTime":1110.89,"endTime":1111.49,"body":"everybody."},{"speaker":"Matt Zahab","startTime":1111.73,"endTime":1114.19,"body":"Did the founders"},{"speaker":"Matt Zahab","startTime":1111.73,"endTime":1114.19,"body":"ever think that they would be"},{"speaker":"Matt Zahab","startTime":1114.19,"endTime":1117.76,"body":"pioneering the whole hardware"},{"speaker":"Matt Zahab","startTime":1114.19,"endTime":1117.76,"body":"wallet space? Or was this just"},{"speaker":"Matt Zahab","startTime":1117.76,"endTime":1120.49,"body":"like a, you know, we're gonna do"},{"speaker":"Matt Zahab","startTime":1117.76,"endTime":1120.49,"body":"this for the people as this is"},{"speaker":"Matt Zahab","startTime":1120.49,"endTime":1122.71,"body":"definitely a problem. And we"},{"speaker":"Matt Zahab","startTime":1120.49,"endTime":1122.71,"body":"have the solution to this"},{"speaker":"Matt Zahab","startTime":1122.71,"endTime":1124.99,"body":"problem. But did they ever think"},{"speaker":"Matt Zahab","startTime":1122.71,"endTime":1124.99,"body":"that they would be pioneering"},{"speaker":"Matt Zahab","startTime":1124.99,"endTime":1125.71,"body":"the whole industry?"},{"speaker":"Josef Ttek","startTime":1125.89,"endTime":1130.0,"body":"Well, I can really"},{"speaker":"Josef Ttek","startTime":1125.89,"endTime":1130.0,"body":"talk for themselves for them."},{"speaker":"Josef Ttek","startTime":1130.03,"endTime":1136.36,"body":"But from what I know, they were"},{"speaker":"Josef Ttek","startTime":1130.03,"endTime":1136.36,"body":"hoping someone else would"},{"speaker":"Josef Ttek","startTime":1136.36,"endTime":1139.42,"body":"actually invent the hardware"},{"speaker":"Josef Ttek","startTime":1136.36,"endTime":1139.42,"body":"wallet, and they could just use"},{"speaker":"Josef Ttek","startTime":1139.42,"endTime":1143.59,"body":"it. Because Slush was focusing"},{"speaker":"Josef Ttek","startTime":1139.42,"endTime":1143.59,"body":"on focusing on the Slush pool."},{"speaker":"Josef Ttek","startTime":1144.13,"endTime":1148.69,"body":"And, you know, there were just"},{"speaker":"Josef Ttek","startTime":1144.13,"endTime":1148.69,"body":"early bitcoiners, who wanted to"},{"speaker":"Josef Ttek","startTime":1149.11,"endTime":1154.96,"body":"do some other Bitcoin stuff. But"},{"speaker":"Josef Ttek","startTime":1149.11,"endTime":1154.96,"body":"since nobody was going to do"},{"speaker":"Josef Ttek","startTime":1154.96,"endTime":1161.41,"body":"that, they had to, like solve"},{"speaker":"Josef Ttek","startTime":1154.96,"endTime":1161.41,"body":"the problem they were facing. So"},{"speaker":"Josef Ttek","startTime":1161.89,"endTime":1166.27,"body":"I think it was like the best"},{"speaker":"Josef Ttek","startTime":1161.89,"endTime":1166.27,"body":"incentive, when you're making a"},{"speaker":"Josef Ttek","startTime":1166.27,"endTime":1171.52,"body":"product, you have to solve, like"},{"speaker":"Josef Ttek","startTime":1166.27,"endTime":1171.52,"body":"your own problem and the problem"},{"speaker":"Josef Ttek","startTime":1171.52,"endTime":1175.87,"body":"that you perceive and your"},{"speaker":"Josef Ttek","startTime":1171.52,"endTime":1175.87,"body":"friends, and some other people,"},{"speaker":"Josef Ttek","startTime":1176.53,"endTime":1180.64,"body":"and it's just natural to go from"},{"speaker":"Josef Ttek","startTime":1176.53,"endTime":1180.64,"body":"there because you know, what"},{"speaker":"Josef Ttek","startTime":1180.64,"endTime":1184.45,"body":"kind of problems you have to"},{"speaker":"Josef Ttek","startTime":1180.64,"endTime":1184.45,"body":"solve and what trade offs you"},{"speaker":"Josef Ttek","startTime":1184.45,"endTime":1188.83,"body":"can make and what kind of trade"},{"speaker":"Josef Ttek","startTime":1184.45,"endTime":1188.83,"body":"offs you cannot make and such,"},{"speaker":"Josef Ttek","startTime":1188.86,"endTime":1193.66,"body":"but I don't think there was"},{"speaker":"Josef Ttek","startTime":1188.86,"endTime":1193.66,"body":"actually any like ambition to"},{"speaker":"Josef Ttek","startTime":1193.66,"endTime":1197.71,"body":"become like the global hardware"},{"speaker":"Josef Ttek","startTime":1193.66,"endTime":1197.71,"body":"voice that came later on when"},{"speaker":"Josef Ttek","startTime":1199.03,"endTime":1204.67,"body":"actually It took off. And there"},{"speaker":"Josef Ttek","startTime":1199.03,"endTime":1204.67,"body":"was a real demand for standard"},{"speaker":"Josef Ttek","startTime":1204.67,"endTime":1206.89,"body":"open device to safekeep Bitcoin."},{"speaker":"Matt Zahab","startTime":1207.34,"endTime":1210.1,"body":"It's so cool. Now"},{"speaker":"Matt Zahab","startTime":1207.34,"endTime":1210.1,"body":"when you look at the Trezor, and"},{"speaker":"Matt Zahab","startTime":1210.52,"endTime":1214.51,"body":"you see how many coins there"},{"speaker":"Matt Zahab","startTime":1210.52,"endTime":1214.51,"body":"are, I believe there are 1000"},{"speaker":"Matt Zahab","startTime":1214.51,"endTime":1217.81,"body":"plus coins that you can hold on"},{"speaker":"Matt Zahab","startTime":1214.51,"endTime":1217.81,"body":"a Trezor, which is absolute"},{"speaker":"Matt Zahab","startTime":1217.81,"endTime":1222.58,"body":"crazy. You have the monochrome"},{"speaker":"Matt Zahab","startTime":1217.81,"endTime":1222.58,"body":"display, you have the full color"},{"speaker":"Matt Zahab","startTime":1222.61,"endTime":1225.46,"body":"touchscreen, you know the pin"},{"speaker":"Matt Zahab","startTime":1222.61,"endTime":1225.46,"body":"entry, the seed phrase, the"},{"speaker":"Matt Zahab","startTime":1225.97,"endTime":1229.18,"body":"device recovery, the whole nine"},{"speaker":"Matt Zahab","startTime":1225.97,"endTime":1229.18,"body":"yards, it literally has"},{"speaker":"Matt Zahab","startTime":1229.18,"endTime":1233.62,"body":"everything you could ask for. I"},{"speaker":"Matt Zahab","startTime":1229.18,"endTime":1233.62,"body":"understand that Trezor is also"},{"speaker":"Matt Zahab","startTime":1233.77,"endTime":1237.34,"body":"releasing the Trezor suite,"},{"speaker":"Matt Zahab","startTime":1233.77,"endTime":1237.34,"body":"along with a whole bunch of main"},{"speaker":"Matt Zahab","startTime":1237.34,"endTime":1240.01,"body":"features. Now this may be under"},{"speaker":"Matt Zahab","startTime":1237.34,"endTime":1240.01,"body":"the table, but can you tell me"},{"speaker":"Matt Zahab","startTime":1240.01,"endTime":1240.7,"body":"about any of those?"},{"speaker":"Josef Ttek","startTime":1241.38,"endTime":1244.92,"body":"Sure. Well,"},{"speaker":"Josef Ttek","startTime":1241.38,"endTime":1244.92,"body":"actually, there's always a fully"},{"speaker":"Josef Ttek","startTime":1244.92,"endTime":1249.45,"body":"open source. And that's not just"},{"speaker":"Josef Ttek","startTime":1244.92,"endTime":1249.45,"body":"from the hardware perspective,"},{"speaker":"Josef Ttek","startTime":1249.48,"endTime":1255.6,"body":"but from the software as well."},{"speaker":"Josef Ttek","startTime":1249.48,"endTime":1255.6,"body":"And we actually have an open the"},{"speaker":"Josef Ttek","startTime":1255.6,"endTime":1259.68,"body":"roadmap, so we can take a look"},{"speaker":"Josef Ttek","startTime":1255.6,"endTime":1259.68,"body":"like what's coming in suite. And"},{"speaker":"Josef Ttek","startTime":1260.67,"endTime":1267.93,"body":"just to let you know, suite is"},{"speaker":"Josef Ttek","startTime":1260.67,"endTime":1267.93,"body":"going to be publicly launched on"},{"speaker":"Josef Ttek","startTime":1268.5,"endTime":1275.64,"body":"the Bitcoin 2021 conference in"},{"speaker":"Josef Ttek","startTime":1268.5,"endTime":1275.64,"body":"Miami, in June. So everything is"},{"speaker":"Josef Ttek","startTime":1275.64,"endTime":1282.12,"body":"going to be talked about in"},{"speaker":"Josef Ttek","startTime":1275.64,"endTime":1282.12,"body":"there. But the most interesting"},{"speaker":"Josef Ttek","startTime":1283.11,"endTime":1289.8,"body":"features of the suite are, which"},{"speaker":"Josef Ttek","startTime":1283.11,"endTime":1289.8,"body":"will be launched this year are"},{"speaker":"Josef Ttek","startTime":1289.86,"endTime":1293.55,"body":"the child pays for parent"},{"speaker":"Josef Ttek","startTime":1289.86,"endTime":1293.55,"body":"feature, which is very"},{"speaker":"Josef Ttek","startTime":1293.55,"endTime":1297.69,"body":"important, if you are facing"},{"speaker":"Josef Ttek","startTime":1293.55,"endTime":1297.69,"body":"higher fees nowadays, coin"},{"speaker":"Josef Ttek","startTime":1297.69,"endTime":1301.98,"body":"control should be also part of"},{"speaker":"Josef Ttek","startTime":1297.69,"endTime":1301.98,"body":"the suite later this year, which"},{"speaker":"Josef Ttek","startTime":1301.98,"endTime":1306.12,"body":"means you can select your utxo's"},{"speaker":"Josef Ttek","startTime":1301.98,"endTime":1306.12,"body":"for spending, which is very good"},{"speaker":"Josef Ttek","startTime":1306.15,"endTime":1311.22,"body":"from the privacy perspective."},{"speaker":"Josef Ttek","startTime":1306.15,"endTime":1311.22,"body":"Suite also will come with"},{"speaker":"Josef Ttek","startTime":1311.7,"endTime":1317.46,"body":"Bitcoin full node capability."},{"speaker":"Josef Ttek","startTime":1311.7,"endTime":1317.46,"body":"Because now you could of course,"},{"speaker":"Josef Ttek","startTime":1317.49,"endTime":1323.22,"body":"connect the altars or to your"},{"speaker":"Josef Ttek","startTime":1317.49,"endTime":1323.22,"body":"own full node. But like through"},{"speaker":"Josef Ttek","startTime":1323.25,"endTime":1328.53,"body":"electron, let's say not to the"},{"speaker":"Josef Ttek","startTime":1323.25,"endTime":1328.53,"body":"native app, but suite is going"},{"speaker":"Josef Ttek","startTime":1328.53,"endTime":1334.74,"body":"to come with the full capability"},{"speaker":"Josef Ttek","startTime":1328.53,"endTime":1334.74,"body":"and most users are probably"},{"speaker":"Josef Ttek","startTime":1334.74,"endTime":1341.13,"body":"going to use the full note."},{"speaker":"Josef Ttek","startTime":1334.74,"endTime":1341.13,"body":"Coinjoin is also on the roadmap"},{"speaker":"Josef Ttek","startTime":1341.16,"endTime":1345.75,"body":"and the Android mobile app"},{"speaker":"Josef Ttek","startTime":1341.16,"endTime":1345.75,"body":"should also be be a part of"},{"speaker":"Josef Ttek","startTime":1345.75,"endTime":1354.09,"body":"that. And that's quite important"},{"speaker":"Josef Ttek","startTime":1345.75,"endTime":1354.09,"body":"to launch our own Android mobile"},{"speaker":"Josef Ttek","startTime":1354.09,"endTime":1359.79,"body":"app. Because right now, there"},{"speaker":"Josef Ttek","startTime":1354.09,"endTime":1359.79,"body":"are many fake phishing apps on"},{"speaker":"Josef Ttek","startTime":1359.79,"endTime":1364.71,"body":"the Google Play Store. And we"},{"speaker":"Josef Ttek","startTime":1359.79,"endTime":1364.71,"body":"are of course fighting against"},{"speaker":"Josef Ttek","startTime":1364.71,"endTime":1371.64,"body":"that. But you know, it's still a"},{"speaker":"Josef Ttek","startTime":1364.71,"endTime":1371.64,"body":"problem with these phishing"},{"speaker":"Josef Ttek","startTime":1371.64,"endTime":1375.15,"body":"caps. So we have to launch our"},{"speaker":"Josef Ttek","startTime":1371.64,"endTime":1375.15,"body":"own and just communicated"},{"speaker":"Josef Ttek","startTime":1375.81,"endTime":1380.31,"body":"clearly what is safe and what"},{"speaker":"Josef Ttek","startTime":1375.81,"endTime":1380.31,"body":"isn't safe. For now. There is no"},{"speaker":"Josef Ttek","startTime":1380.34,"endTime":1385.23,"body":"official Trezor mobile app that"},{"speaker":"Josef Ttek","startTime":1380.34,"endTime":1385.23,"body":"this should be set definitely"},{"speaker":"Matt Zahab","startTime":1385.66,"endTime":1388.33,"body":"Folks, you heard"},{"speaker":"Matt Zahab","startTime":1385.66,"endTime":1388.33,"body":"him, definitely take a look at"},{"speaker":"Matt Zahab","startTime":1388.33,"endTime":1393.43,"body":"the upcoming updates to the"},{"speaker":"Matt Zahab","startTime":1388.33,"endTime":1393.43,"body":"Trezor suite. We're going to"},{"speaker":"Matt Zahab","startTime":1393.43,"endTime":1397.93,"body":"take a quick break. This episode"},{"speaker":"Matt Zahab","startTime":1393.43,"endTime":1397.93,"body":"is brought to you by our dear"},{"speaker":"Matt Zahab","startTime":1397.93,"endTime":1401.38,"body":"friends at coinpoker, the"},{"speaker":"Matt Zahab","startTime":1397.93,"endTime":1401.38,"body":"world's premier crypto poker"},{"speaker":"Matt Zahab","startTime":1401.41,"endTime":1404.62,"body":"platform. Coinpoker is a"},{"speaker":"Matt Zahab","startTime":1401.41,"endTime":1404.62,"body":"revolutionary blockchain"},{"speaker":"Matt Zahab","startTime":1404.62,"endTime":1407.44,"body":"technology based platform that"},{"speaker":"Matt Zahab","startTime":1404.62,"endTime":1407.44,"body":"was developed by an ambitious"},{"speaker":"Matt Zahab","startTime":1407.44,"endTime":1411.88,"body":"team of poker players. Coinpoker"},{"speaker":"Matt Zahab","startTime":1407.44,"endTime":1411.88,"body":"uses USDT stable coin as the"},{"speaker":"Matt Zahab","startTime":1411.88,"endTime":1416.59,"body":"main in game currency and $CHP"},{"speaker":"Matt Zahab","startTime":1411.88,"endTime":1416.59,"body":"as ingame fuel, offering all"},{"speaker":"Matt Zahab","startTime":1416.59,"endTime":1420.07,"body":"benefits of the crypto world"},{"speaker":"Matt Zahab","startTime":1416.59,"endTime":1420.07,"body":"alongside. Coinpoker also"},{"speaker":"Matt Zahab","startTime":1420.07,"endTime":1424.45,"body":"features instant and secure"},{"speaker":"Matt Zahab","startTime":1420.07,"endTime":1424.45,"body":"transactions using USDT Ethereum"},{"speaker":"Matt Zahab","startTime":1424.51,"endTime":1430.3,"body":"Bitcoin or $CHP tokens and no"},{"speaker":"Matt Zahab","startTime":1424.51,"endTime":1430.3,"body":"KYC you heard that right no KYC."},{"speaker":"Matt Zahab","startTime":1431.02,"endTime":1433.72,"body":"Coinpoker users get huge"},{"speaker":"Matt Zahab","startTime":1431.02,"endTime":1433.72,"body":"promotions as they give away"},{"speaker":"Matt Zahab","startTime":1433.75,"endTime":1438.82,"body":"1000s in fiat each week. $CHP is"},{"speaker":"Matt Zahab","startTime":1433.75,"endTime":1438.82,"body":"the currency of the coinpoker"},{"speaker":"Matt Zahab","startTime":1438.82,"endTime":1442.69,"body":"economy, providing players with"},{"speaker":"Matt Zahab","startTime":1438.82,"endTime":1442.69,"body":"exclusive benefits and supports"},{"speaker":"Matt Zahab","startTime":1442.72,"endTime":1446.38,"body":"future developments delivered to"},{"speaker":"Matt Zahab","startTime":1442.72,"endTime":1446.38,"body":"the coinpoker community. My"},{"speaker":"Matt Zahab","startTime":1446.38,"endTime":1448.99,"body":"favorite part about coinpoker is"},{"speaker":"Matt Zahab","startTime":1446.38,"endTime":1448.99,"body":"the mobile app. When I'm on the"},{"speaker":"Matt Zahab","startTime":1448.99,"endTime":1451.87,"body":"go, I whip out my phone and play"},{"speaker":"Matt Zahab","startTime":1448.99,"endTime":1451.87,"body":"a couple hands of Texas Hold'em"},{"speaker":"Matt Zahab","startTime":1451.93,"endTime":1456.28,"body":"or bet on sports. They have an"},{"speaker":"Matt Zahab","startTime":1451.93,"endTime":1456.28,"body":"amazing sports book, really"},{"speaker":"Matt Zahab","startTime":1456.28,"endTime":1461.29,"body":"clean spreads, very clean UX,"},{"speaker":"Matt Zahab","startTime":1456.28,"endTime":1461.29,"body":"and an overall great time. If"},{"speaker":"Matt Zahab","startTime":1461.29,"endTime":1465.34,"body":"you'd like to check them out, go"},{"speaker":"Matt Zahab","startTime":1461.29,"endTime":1465.34,"body":"to coinpoker.com and give them a"},{"speaker":"Matt Zahab","startTime":1465.34,"endTime":1467.38,"body":"try. Now back to the show."},{"speaker":"Matt Zahab","startTime":1474.91,"endTime":1480.34,"body":"Josef next topic I'd love to"},{"speaker":"Matt Zahab","startTime":1474.91,"endTime":1480.34,"body":"jump into is seed phrases. As"},{"speaker":"Matt Zahab","startTime":1480.34,"endTime":1483.28,"body":"you guys have done so much in"},{"speaker":"Matt Zahab","startTime":1480.34,"endTime":1483.28,"body":"that space, do you have any"},{"speaker":"Matt Zahab","startTime":1483.28,"endTime":1486.82,"body":"crazy stories about people"},{"speaker":"Matt Zahab","startTime":1483.28,"endTime":1486.82,"body":"forgetting seed phrases and just"},{"speaker":"Matt Zahab","startTime":1486.88,"endTime":1489.88,"body":"blowing up customer support"},{"speaker":"Matt Zahab","startTime":1486.88,"endTime":1489.88,"body":"trying to get it back somehow"},{"speaker":"Matt Zahab","startTime":1489.88,"endTime":1492.34,"body":"like any crazy million dollar"},{"speaker":"Matt Zahab","startTime":1489.88,"endTime":1492.34,"body":"loss stories?"},{"speaker":"Josef Ttek","startTime":1493.68,"endTime":1498.0,"body":"Well, yeah,"},{"speaker":"Josef Ttek","startTime":1493.68,"endTime":1498.0,"body":"unfortunately there are a lot of"},{"speaker":"Josef Ttek","startTime":1498.0,"endTime":1503.97,"body":"them. I don't probably go into"},{"speaker":"Josef Ttek","startTime":1498.0,"endTime":1503.97,"body":"any specifics. But you know, the"},{"speaker":"Josef Ttek","startTime":1503.97,"endTime":1508.92,"body":"biggest problem with seed"},{"speaker":"Josef Ttek","startTime":1503.97,"endTime":1508.92,"body":"phrases and making a backup of"},{"speaker":"Josef Ttek","startTime":1508.92,"endTime":1515.07,"body":"the seed is people trying to"},{"speaker":"Josef Ttek","startTime":1508.92,"endTime":1515.07,"body":"come up with their own, like"},{"speaker":"Josef Ttek","startTime":1515.31,"endTime":1519.54,"body":"security practices, like they"},{"speaker":"Josef Ttek","startTime":1515.31,"endTime":1519.54,"body":"write down the 24 words. And"},{"speaker":"Josef Ttek","startTime":1519.57,"endTime":1523.56,"body":"then they try to shuffle the"},{"speaker":"Josef Ttek","startTime":1519.57,"endTime":1523.56,"body":"ordering of the words and they"},{"speaker":"Josef Ttek","startTime":1523.56,"endTime":1528.27,"body":"think they can remember the or"},{"speaker":"Josef Ttek","startTime":1523.56,"endTime":1528.27,"body":"the new ordering. And like the"},{"speaker":"Josef Ttek","startTime":1528.27,"endTime":1534.63,"body":"aim is to confuse the potential"},{"speaker":"Josef Ttek","startTime":1528.27,"endTime":1534.63,"body":"thief but they end up mostly"},{"speaker":"Josef Ttek","startTime":1534.63,"endTime":1539.13,"body":"confusing themselves. So we"},{"speaker":"Josef Ttek","startTime":1534.63,"endTime":1539.13,"body":"sometimes see that, like,"},{"speaker":"Josef Ttek","startTime":1539.16,"endTime":1543.12,"body":"somebody shuffled their words,"},{"speaker":"Josef Ttek","startTime":1539.16,"endTime":1543.12,"body":"and they cannot remember the"},{"speaker":"Josef Ttek","startTime":1543.12,"endTime":1548.46,"body":"order, and they think the"},{"speaker":"Josef Ttek","startTime":1543.12,"endTime":1548.46,"body":"entropy isn't that large. But if"},{"speaker":"Josef Ttek","startTime":1548.46,"endTime":1553.59,"body":"you shuffle around 24 words,"},{"speaker":"Josef Ttek","startTime":1548.46,"endTime":1553.59,"body":"it's still pretty much"},{"speaker":"Josef Ttek","startTime":1553.62,"endTime":1558.93,"body":"unbreakable like to brute force"},{"speaker":"Josef Ttek","startTime":1553.62,"endTime":1558.93,"body":"attack. So nobody should do"},{"speaker":"Josef Ttek","startTime":1558.93,"endTime":1564.75,"body":"that. You should use, if you are"},{"speaker":"Josef Ttek","startTime":1558.93,"endTime":1564.75,"body":"going to, like strengthen your"},{"speaker":"Josef Ttek","startTime":1564.78,"endTime":1568.47,"body":"backup, you should use Shamir"},{"speaker":"Josef Ttek","startTime":1564.78,"endTime":1568.47,"body":"backup for that. And you should"},{"speaker":"Josef Ttek","startTime":1568.47,"endTime":1573.87,"body":"use passphrase but please don't"},{"speaker":"Josef Ttek","startTime":1568.47,"endTime":1573.87,"body":"do anything with the ordering of"},{"speaker":"Josef Ttek","startTime":1573.87,"endTime":1582.0,"body":"your seed or like miss some of"},{"speaker":"Josef Ttek","startTime":1573.87,"endTime":1582.0,"body":"the words or something like you"},{"speaker":"Josef Ttek","startTime":1582.03,"endTime":1585.33,"body":"write down just 23 words or"},{"speaker":"Josef Ttek","startTime":1582.03,"endTime":1585.33,"body":"something and that you're not"},{"speaker":"Josef Ttek","startTime":1585.33,"endTime":1589.02,"body":"going to remember the 24 this"},{"speaker":"Josef Ttek","startTime":1585.33,"endTime":1589.02,"body":"could be for still brute"},{"speaker":"Josef Ttek","startTime":1589.02,"endTime":1595.89,"body":"forcible but still view problem"},{"speaker":"Josef Ttek","startTime":1589.02,"endTime":1595.89,"body":"for you to access your Bitcoin"},{"speaker":"Josef Ttek","startTime":1595.89,"endTime":1600.78,"body":"that way. Yeah, so just follow"},{"speaker":"Josef Ttek","startTime":1595.89,"endTime":1600.78,"body":"the best practices what we are"},{"speaker":"Josef Ttek","startTime":1600.81,"endTime":1604.59,"body":"recommending, and use from"},{"speaker":"Josef Ttek","startTime":1600.81,"endTime":1604.59,"body":"Shamir backup, use the"},{"speaker":"Josef Ttek","startTime":1604.59,"endTime":1605.28,"body":"passphrase."},{"speaker":"Matt Zahab","startTime":1605.58,"endTime":1608.04,"body":"I, me personally, I"},{"speaker":"Matt Zahab","startTime":1605.58,"endTime":1608.04,"body":"have mine written down in a"},{"speaker":"Matt Zahab","startTime":1608.04,"endTime":1611.82,"body":"couple of different notebooks. A"},{"speaker":"Matt Zahab","startTime":1608.04,"endTime":1611.82,"body":"friend of mine actually just"},{"speaker":"Matt Zahab","startTime":1611.82,"endTime":1616.56,"body":"sent me a seed secure and I can"},{"speaker":"Matt Zahab","startTime":1611.82,"endTime":1616.56,"body":"put that on steel if my house"},{"speaker":"Matt Zahab","startTime":1616.56,"endTime":1619.71,"body":"ever burns down, praying to the"},{"speaker":"Matt Zahab","startTime":1616.56,"endTime":1619.71,"body":"Lord, it does not but if my"},{"speaker":"Matt Zahab","startTime":1619.71,"endTime":1625.32,"body":"house burns down that paper will"},{"speaker":"Matt Zahab","startTime":1619.71,"endTime":1625.32,"body":"be toast and on the seed secure,"},{"speaker":"Matt Zahab","startTime":1625.32,"endTime":1630.51,"body":"which is in metal that will"},{"speaker":"Matt Zahab","startTime":1625.32,"endTime":1630.51,"body":"still be there. Again, that's"},{"speaker":"Matt Zahab","startTime":1630.54,"endTime":1634.11,"body":"pretty extremists. But can you"},{"speaker":"Matt Zahab","startTime":1630.54,"endTime":1634.11,"body":"tell me about Shamir backup, the"},{"speaker":"Matt Zahab","startTime":1634.11,"endTime":1636.09,"body":"recovery seed and passphrase?"},{"speaker":"Josef Ttek","startTime":1636.3,"endTime":1641.82,"body":"Sure, so yeah. You"},{"speaker":"Josef Ttek","startTime":1636.3,"endTime":1641.82,"body":"actually touched a little bit on"},{"speaker":"Josef Ttek","startTime":1641.82,"endTime":1647.55,"body":"that, if you have a simple seed"},{"speaker":"Josef Ttek","startTime":1641.82,"endTime":1647.55,"body":"written down, you basically are"},{"speaker":"Josef Ttek","startTime":1647.55,"endTime":1652.32,"body":"faced with a problem. Do you"},{"speaker":"Josef Ttek","startTime":1647.55,"endTime":1652.32,"body":"keep like one copy of it in your"},{"speaker":"Josef Ttek","startTime":1652.32,"endTime":1657.24,"body":"house? And if it burns down,"},{"speaker":"Josef Ttek","startTime":1652.32,"endTime":1657.24,"body":"it's gone? Or do you make"},{"speaker":"Josef Ttek","startTime":1657.24,"endTime":1661.83,"body":"multiple copies of that. So you"},{"speaker":"Josef Ttek","startTime":1657.24,"endTime":1661.83,"body":"have some redundancy. But you"},{"speaker":"Josef Ttek","startTime":1661.83,"endTime":1666.06,"body":"have a problem that somebody can"},{"speaker":"Josef Ttek","startTime":1661.83,"endTime":1666.06,"body":"find it and steal your coins. So"},{"speaker":"Josef Ttek","startTime":1666.09,"endTime":1670.71,"body":"Shamir basically solves for"},{"speaker":"Josef Ttek","startTime":1666.09,"endTime":1670.71,"body":"that, because you can create"},{"speaker":"Josef Ttek","startTime":1671.01,"endTime":1679.17,"body":"someredundancy by basically"},{"speaker":"Josef Ttek","startTime":1671.01,"endTime":1679.17,"body":"making multiple charts that can"},{"speaker":"Josef Ttek","startTime":1679.17,"endTime":1683.52,"body":"be interconnected later. And you"},{"speaker":"Josef Ttek","startTime":1679.17,"endTime":1683.52,"body":"can access your words this way."},{"speaker":"Josef Ttek","startTime":1684.15,"endTime":1688.95,"body":"But if one of the charts is"},{"speaker":"Josef Ttek","startTime":1684.15,"endTime":1688.95,"body":"found, you are not compromised,"},{"speaker":"Josef Ttek","startTime":1688.95,"endTime":1692.37,"body":"your security is not"},{"speaker":"Josef Ttek","startTime":1688.95,"endTime":1692.37,"body":"compromised. Actually, like one"},{"speaker":"Josef Ttek","startTime":1692.37,"endTime":1697.29,"body":"of the most basic Shamir setups"},{"speaker":"Josef Ttek","startTime":1692.37,"endTime":1697.29,"body":"is three out of five, where you"},{"speaker":"Josef Ttek","startTime":1697.29,"endTime":1702.84,"body":"create five charts of, let's"},{"speaker":"Josef Ttek","startTime":1697.29,"endTime":1702.84,"body":"say, 20 words, and you have to"},{"speaker":"Josef Ttek","startTime":1703.17,"endTime":1708.6,"body":"combine three of them and it's"},{"speaker":"Josef Ttek","startTime":1703.17,"endTime":1708.6,"body":"any of those five charts. So if"},{"speaker":"Josef Ttek","startTime":1708.6,"endTime":1713.58,"body":"you combine three of them, you"},{"speaker":"Josef Ttek","startTime":1708.6,"endTime":1713.58,"body":"can access your piece later on."},{"speaker":"Josef Ttek","startTime":1714.18,"endTime":1719.58,"body":"So that's much better from the"},{"speaker":"Josef Ttek","startTime":1714.18,"endTime":1719.58,"body":"security standpoint and just"},{"speaker":"Josef Ttek","startTime":1720.03,"endTime":1723.93,"body":"making five copies of your"},{"speaker":"Josef Ttek","startTime":1720.03,"endTime":1723.93,"body":"original receipt, because this"},{"speaker":"Josef Ttek","startTime":1723.93,"endTime":1730.47,"body":"could be used against you. So"},{"speaker":"Josef Ttek","startTime":1723.93,"endTime":1730.47,"body":"Shamir is, I guess, right now,"},{"speaker":"Josef Ttek","startTime":1730.83,"endTime":1735.3,"body":"the best way how to make a"},{"speaker":"Josef Ttek","startTime":1730.83,"endTime":1735.3,"body":"backup of your Bitcoin wallet,"},{"speaker":"Josef Ttek","startTime":1735.72,"endTime":1741.18,"body":"and you can do Shamir backups"},{"speaker":"Josef Ttek","startTime":1735.72,"endTime":1741.18,"body":"through Trezor D is the newer"},{"speaker":"Josef Ttek","startTime":1741.18,"endTime":1745.65,"body":"model. Trezor one so far doesn't"},{"speaker":"Josef Ttek","startTime":1741.18,"endTime":1745.65,"body":"have the capability of doing"},{"speaker":"Josef Ttek","startTime":1745.68,"endTime":1753.03,"body":"Shamir backups. And one of the"},{"speaker":"Josef Ttek","startTime":1745.68,"endTime":1753.03,"body":"important facts about the Shamir"},{"speaker":"Josef Ttek","startTime":1753.03,"endTime":1760.95,"body":"backup is it's an open standard."},{"speaker":"Josef Ttek","startTime":1753.03,"endTime":1760.95,"body":"It was defined by slip 39, it's"},{"speaker":"Josef Ttek","startTime":1760.98,"endTime":1765.69,"body":"such a sharp improvement"},{"speaker":"Josef Ttek","startTime":1760.98,"endTime":1765.69,"body":"proposal 39. So if you do Shamir"},{"speaker":"Josef Ttek","startTime":1765.69,"endTime":1771.15,"body":"backups, you are not locking"},{"speaker":"Josef Ttek","startTime":1765.69,"endTime":1771.15,"body":"yourself into some closed"},{"speaker":"Josef Ttek","startTime":1771.15,"endTime":1775.11,"body":"ecosystem. If Satoshi labs went"},{"speaker":"Josef Ttek","startTime":1771.15,"endTime":1775.11,"body":"bankrupt, and there are no"},{"speaker":"Josef Ttek","startTime":1775.11,"endTime":1780.0,"body":"mortars, you could still recover"},{"speaker":"Josef Ttek","startTime":1775.11,"endTime":1780.0,"body":"your bitcoins on some other"},{"speaker":"Josef Ttek","startTime":1780.0,"endTime":1785.55,"body":"device that that follows the"},{"speaker":"Josef Ttek","startTime":1780.0,"endTime":1785.55,"body":"Shamir backup standard. And for"},{"speaker":"Josef Ttek","startTime":1785.55,"endTime":1789.72,"body":"example, Cobo vault is also"},{"speaker":"Josef Ttek","startTime":1785.55,"endTime":1789.72,"body":"supporting Shamir backup. So"},{"speaker":"Josef Ttek","startTime":1789.72,"endTime":1794.28,"body":"it's an open standard that other"},{"speaker":"Josef Ttek","startTime":1789.72,"endTime":1794.28,"body":"manufacturers are gradually"},{"speaker":"Josef Ttek","startTime":1795.0,"endTime":1799.89,"body":"adopting as well. I think it's"},{"speaker":"Josef Ttek","startTime":1795.0,"endTime":1799.89,"body":"important to remain open and"},{"speaker":"Josef Ttek","startTime":1799.89,"endTime":1805.05,"body":"transparent, and just increase"},{"speaker":"Josef Ttek","startTime":1799.89,"endTime":1805.05,"body":"the security of the whole"},{"speaker":"Josef Ttek","startTime":1805.05,"endTime":1810.15,"body":"industry, not just of our own"},{"speaker":"Josef Ttek","startTime":1805.05,"endTime":1810.15,"body":"devices. And the passphrase,"},{"speaker":"Josef Ttek","startTime":1810.15,"endTime":1816.93,"body":"yeah, that's also important."},{"speaker":"Josef Ttek","startTime":1810.15,"endTime":1816.93,"body":"Because Trezor devices don't"},{"speaker":"Josef Ttek","startTime":1816.93,"endTime":1821.4,"body":"come with the secure element"},{"speaker":"Josef Ttek","startTime":1816.93,"endTime":1821.4,"body":"chips. That's totally"},{"speaker":"Josef Ttek","startTime":1821.4,"endTime":1824.91,"body":"intentional, because secure"},{"speaker":"Josef Ttek","startTime":1821.4,"endTime":1824.91,"body":"element chips are basically"},{"speaker":"Josef Ttek","startTime":1824.94,"endTime":1829.71,"body":"black boxes, where you cannot"},{"speaker":"Josef Ttek","startTime":1824.94,"endTime":1829.71,"body":"actually look inside what's"},{"speaker":"Josef Ttek","startTime":1829.74,"endTime":1835.14,"body":"going on. So if there's any"},{"speaker":"Josef Ttek","startTime":1829.74,"endTime":1835.14,"body":"vulnerability, you cannot know"},{"speaker":"Josef Ttek","startTime":1835.14,"endTime":1838.68,"body":"about that, if you find out some"},{"speaker":"Josef Ttek","startTime":1835.14,"endTime":1838.68,"body":"vulnerability in a secure chip,"},{"speaker":"Josef Ttek","startTime":1838.92,"endTime":1843.9,"body":"you cannot disclose that because"},{"speaker":"Josef Ttek","startTime":1838.92,"endTime":1843.9,"body":"they are under NDA. So you have"},{"speaker":"Josef Ttek","startTime":1843.9,"endTime":1847.74,"body":"to trust the manufacturer, and"},{"speaker":"Josef Ttek","startTime":1843.9,"endTime":1847.74,"body":"you cannot verify it, which goes"},{"speaker":"Josef Ttek","startTime":1847.74,"endTime":1852.72,"body":"against like the basic Bitcoin"},{"speaker":"Josef Ttek","startTime":1847.74,"endTime":1852.72,"body":"promise that you cannot trust,"},{"speaker":"Josef Ttek","startTime":1852.72,"endTime":1856.2,"body":"you have to verify everything."},{"speaker":"Josef Ttek","startTime":1852.72,"endTime":1856.2,"body":"And Trezor is always based on"},{"speaker":"Josef Ttek","startTime":1856.2,"endTime":1861.48,"body":"this promise. So everything we"},{"speaker":"Josef Ttek","startTime":1856.2,"endTime":1861.48,"body":"do is open sourced, and secure"},{"speaker":"Josef Ttek","startTime":1861.48,"endTime":1866.07,"body":"elements just don't follow this"},{"speaker":"Josef Ttek","startTime":1861.48,"endTime":1866.07,"body":"practice. So instead of secure"},{"speaker":"Josef Ttek","startTime":1866.07,"endTime":1871.77,"body":"element, we have a passphrase."},{"speaker":"Josef Ttek","startTime":1866.07,"endTime":1871.77,"body":"Because in the edge case, when"},{"speaker":"Josef Ttek","startTime":1872.43,"endTime":1878.22,"body":"somebody accesses your Trezor,"},{"speaker":"Josef Ttek","startTime":1872.43,"endTime":1878.22,"body":"under like very special"},{"speaker":"Josef Ttek","startTime":1878.55,"endTime":1884.52,"body":"circumstances with a high"},{"speaker":"Josef Ttek","startTime":1878.55,"endTime":1884.52,"body":"budget, they could access your"},{"speaker":"Josef Ttek","startTime":1884.52,"endTime":1888.06,"body":"seed on the device. But if you"},{"speaker":"Josef Ttek","startTime":1884.52,"endTime":1888.06,"body":"have the passphrase that is not"},{"speaker":"Josef Ttek","startTime":1888.06,"endTime":1892.83,"body":"stored on the device, it's"},{"speaker":"Josef Ttek","startTime":1888.06,"endTime":1892.83,"body":"basically your passwords for"},{"speaker":"Josef Ttek","startTime":1893.61,"endTime":1898.29,"body":"managing the pathway to the"},{"speaker":"Josef Ttek","startTime":1893.61,"endTime":1898.29,"body":"private keys that unlock your,"},{"speaker":"Josef Ttek","startTime":1898.41,"endTime":1901.8,"body":"all your bitcoins or"},{"speaker":"Josef Ttek","startTime":1898.41,"endTime":1901.8,"body":"cryptocurrencies. So passphrase,"},{"speaker":"Josef Ttek","startTime":1901.8,"endTime":1905.49,"body":"since it's not stored on the"},{"speaker":"Josef Ttek","startTime":1901.8,"endTime":1905.49,"body":"device is like the second level"},{"speaker":"Josef Ttek","startTime":1905.49,"endTime":1909.18,"body":"of protection for the physical"},{"speaker":"Josef Ttek","startTime":1905.49,"endTime":1909.18,"body":"attacks."},{"speaker":"Matt Zahab","startTime":1909.72,"endTime":1912.09,"body":"Good to know. I"},{"speaker":"Matt Zahab","startTime":1909.72,"endTime":1912.09,"body":"know, this is a very tough"},{"speaker":"Matt Zahab","startTime":1912.09,"endTime":1916.32,"body":"question. And it's extremely"},{"speaker":"Matt Zahab","startTime":1912.09,"endTime":1916.32,"body":"contextual, but how do you"},{"speaker":"Matt Zahab","startTime":1916.32,"endTime":1920.82,"body":"recommend for a crypto rookie"},{"speaker":"Matt Zahab","startTime":1916.32,"endTime":1920.82,"body":"who has maybe started, you know,"},{"speaker":"Matt Zahab","startTime":1920.88,"endTime":1925.74,"body":"increasing his or her bag of alt"},{"speaker":"Matt Zahab","startTime":1920.88,"endTime":1925.74,"body":"coins, shit coins? And you know,"},{"speaker":"Matt Zahab","startTime":1925.74,"endTime":1928.47,"body":"some of the stable coins? And"},{"speaker":"Matt Zahab","startTime":1925.74,"endTime":1928.47,"body":"then of course, you have your"},{"speaker":"Matt Zahab","startTime":1928.47,"endTime":1931.65,"body":"Bitcoin, your so on and so"},{"speaker":"Matt Zahab","startTime":1928.47,"endTime":1931.65,"body":"forth. At what, you know,"},{"speaker":"Matt Zahab","startTime":1931.65,"endTime":1935.76,"body":"financial level, do you take"},{"speaker":"Matt Zahab","startTime":1931.65,"endTime":1935.76,"body":"those coins off of a hot wallet"},{"speaker":"Matt Zahab","startTime":1936.06,"endTime":1938.73,"body":"and bring it onto a cold wallet?"},{"speaker":"Matt Zahab","startTime":1936.06,"endTime":1938.73,"body":"Is there any industry best"},{"speaker":"Matt Zahab","startTime":1938.73,"endTime":1942.12,"body":"practice? Or is it strictly"},{"speaker":"Matt Zahab","startTime":1938.73,"endTime":1942.12,"body":"based on the user's comfort"},{"speaker":"Matt Zahab","startTime":1942.12,"endTime":1942.45,"body":"level?"},{"speaker":"Josef Ttek","startTime":1942.69,"endTime":1947.43,"body":"Well, I think if"},{"speaker":"Josef Ttek","startTime":1942.69,"endTime":1947.43,"body":"your portfolio is worth, like,"},{"speaker":"Josef Ttek","startTime":1947.46,"endTime":1955.89,"body":"$1,000, it's okay to buy Trezor"},{"speaker":"Josef Ttek","startTime":1947.46,"endTime":1955.89,"body":"by then. If you have like $100,"},{"speaker":"Josef Ttek","startTime":1956.22,"endTime":1962.55,"body":"it's probably okay to hold it"},{"speaker":"Josef Ttek","startTime":1956.22,"endTime":1962.55,"body":"somewhere else. But you know, as"},{"speaker":"Josef Ttek","startTime":1962.85,"endTime":1966.48,"body":"you as their portfolio value"},{"speaker":"Josef Ttek","startTime":1962.85,"endTime":1966.48,"body":"goes up, you should definitely"},{"speaker":"Josef Ttek","startTime":1967.32,"endTime":1970.86,"body":"think about securing it"},{"speaker":"Josef Ttek","startTime":1967.32,"endTime":1970.86,"body":"properly, which is in Trezor or"},{"speaker":"Josef Ttek","startTime":1970.95,"endTime":1974.55,"body":"in a hardware wallet, where you"},{"speaker":"Josef Ttek","startTime":1970.95,"endTime":1974.55,"body":"control your own keys where you"},{"speaker":"Josef Ttek","startTime":1974.55,"endTime":1981.48,"body":"can do the proper backup and"},{"speaker":"Josef Ttek","startTime":1974.55,"endTime":1981.48,"body":"such. One of like, problems is"},{"speaker":"Josef Ttek","startTime":1981.48,"endTime":1986.37,"body":"also for example, inheritance"},{"speaker":"Josef Ttek","startTime":1981.48,"endTime":1986.37,"body":"planning. If you hold like a"},{"speaker":"Josef Ttek","startTime":1986.37,"endTime":1992.61,"body":"large bag, on some exchange, or"},{"speaker":"Josef Ttek","startTime":1986.37,"endTime":1992.61,"body":"on some software wallet, and"},{"speaker":"Josef Ttek","startTime":1992.61,"endTime":1996.33,"body":"something happens to you,"},{"speaker":"Josef Ttek","startTime":1992.61,"endTime":1996.33,"body":"probably your family won't be"},{"speaker":"Josef Ttek","startTime":1996.33,"endTime":2003.44,"body":"able to access your back. I"},{"speaker":"Josef Ttek","startTime":1996.33,"endTime":2003.44,"body":"would say it's something that"},{"speaker":"Josef Ttek","startTime":2003.89,"endTime":2007.07,"body":"people don't think about that"},{"speaker":"Josef Ttek","startTime":2003.89,"endTime":2007.07,"body":"much, because usually they're"},{"speaker":"Josef Ttek","startTime":2007.07,"endTime":2011.12,"body":"young and healthy and"},{"speaker":"Josef Ttek","startTime":2007.07,"endTime":2011.12,"body":"everything. But it's a problem"},{"speaker":"Josef Ttek","startTime":2011.12,"endTime":2014.18,"body":"with Bitcoin and"},{"speaker":"Josef Ttek","startTime":2011.12,"endTime":2014.18,"body":"cryptocurrencies, because you"},{"speaker":"Josef Ttek","startTime":2014.18,"endTime":2018.77,"body":"just have to have the access to"},{"speaker":"Josef Ttek","startTime":2014.18,"endTime":2018.77,"body":"use private keys. And if you"},{"speaker":"Josef Ttek","startTime":2018.77,"endTime":2026.93,"body":"don't write like a concrete"},{"speaker":"Josef Ttek","startTime":2018.77,"endTime":2026.93,"body":"guide for your loved ones, and I"},{"speaker":"Josef Ttek","startTime":2026.93,"endTime":2031.88,"body":"think Shamir is a good fit for"},{"speaker":"Josef Ttek","startTime":2026.93,"endTime":2031.88,"body":"that, then they simply won't"},{"speaker":"Josef Ttek","startTime":2032.36,"endTime":2034.49,"body":"have access to that. Yep."},{"speaker":"Matt Zahab","startTime":2034.93,"endTime":2037.66,"body":"That's a Yeah, no"},{"speaker":"Matt Zahab","startTime":2034.93,"endTime":2037.66,"body":"one ever wants to think about"},{"speaker":"Matt Zahab","startTime":2037.66,"endTime":2040.45,"body":"potentially getting whacked by a"},{"speaker":"Matt Zahab","startTime":2037.66,"endTime":2040.45,"body":"bus. But I guess that's"},{"speaker":"Matt Zahab","startTime":2040.45,"endTime":2042.88,"body":"something you have to think"},{"speaker":"Matt Zahab","startTime":2040.45,"endTime":2042.88,"body":"about, especially when you have"},{"speaker":"Matt Zahab","startTime":2042.88,"endTime":2046.69,"body":"hundreds of 1000s or sometimes"},{"speaker":"Matt Zahab","startTime":2042.88,"endTime":2046.69,"body":"millions and the odd whales were"},{"speaker":"Matt Zahab","startTime":2046.69,"endTime":2050.62,"body":"billions in their and their"},{"speaker":"Matt Zahab","startTime":2046.69,"endTime":2050.62,"body":"crypto wallets. Definitely"},{"speaker":"Matt Zahab","startTime":2050.62,"endTime":2054.31,"body":"thoughtful. I'd love to move"},{"speaker":"Matt Zahab","startTime":2050.62,"endTime":2054.31,"body":"forward and talk about cbdcs"},{"speaker":"Matt Zahab","startTime":2054.4,"endTime":2058.75,"body":"Central Bank digital currencies."},{"speaker":"Matt Zahab","startTime":2054.4,"endTime":2058.75,"body":"I know you've written a couple"},{"speaker":"Matt Zahab","startTime":2058.75,"endTime":2060.7,"body":"pieces on this and talked about"},{"speaker":"Matt Zahab","startTime":2058.75,"endTime":2060.7,"body":"this, you have a very"},{"speaker":"Matt Zahab","startTime":2060.7,"endTime":2064.06,"body":"interesting take on cbdcs It"},{"speaker":"Matt Zahab","startTime":2060.7,"endTime":2064.06,"body":"seems like the industry is"},{"speaker":"Matt Zahab","startTime":2064.06,"endTime":2065.92,"body":"almost split in half. A lot of"},{"speaker":"Matt Zahab","startTime":2064.06,"endTime":2065.92,"body":"people think it's great for"},{"speaker":"Matt Zahab","startTime":2065.92,"endTime":2069.4,"body":"Bitcoin Ethereum and the bigger"},{"speaker":"Matt Zahab","startTime":2065.92,"endTime":2069.4,"body":"boys and a lot of people think"},{"speaker":"Matt Zahab","startTime":2069.4,"endTime":2071.68,"body":"that it might cause a little bit"},{"speaker":"Matt Zahab","startTime":2069.4,"endTime":2071.68,"body":"of a shit show. I'd love to hear"},{"speaker":"Matt Zahab","startTime":2071.68,"endTime":2072.4,"body":"your take on that."},{"speaker":"Josef Ttek","startTime":2072.47,"endTime":2077.96,"body":"Yeah, well cbdcs"},{"speaker":"Josef Ttek","startTime":2072.47,"endTime":2077.96,"body":"probably are good for Bitcoin,"},{"speaker":"Josef Ttek","startTime":2078.38,"endTime":2083.63,"body":"but they are definitely not good"},{"speaker":"Josef Ttek","startTime":2078.38,"endTime":2083.63,"body":"for liberty and private"},{"speaker":"Josef Ttek","startTime":2083.63,"endTime":2087.59,"body":"property. Because if we take a"},{"speaker":"Josef Ttek","startTime":2083.63,"endTime":2087.59,"body":"look at what are the proposals,"},{"speaker":"Josef Ttek","startTime":2087.68,"endTime":2092.75,"body":"especially in China, where if"},{"speaker":"Josef Ttek","startTime":2087.68,"endTime":2092.75,"body":"you had like this retail cbdc"},{"speaker":"Josef Ttek","startTime":2092.75,"endTime":2099.86,"body":"that ordinary people will earn"},{"speaker":"Josef Ttek","startTime":2092.75,"endTime":2099.86,"body":"and spend, it can come with an"},{"speaker":"Josef Ttek","startTime":2099.86,"endTime":2106.28,"body":"expiration date. So you receive"},{"speaker":"Josef Ttek","startTime":2099.86,"endTime":2106.28,"body":"$100, and you have to spend it"},{"speaker":"Josef Ttek","startTime":2106.31,"endTime":2111.44,"body":"in 30 days, you cannot save it,"},{"speaker":"Josef Ttek","startTime":2106.31,"endTime":2111.44,"body":"you cannot repay your debts with"},{"speaker":"Josef Ttek","startTime":2111.44,"endTime":2114.86,"body":"it, you cannot invest it, you"},{"speaker":"Josef Ttek","startTime":2111.44,"endTime":2114.86,"body":"just have to spend it on some"},{"speaker":"Josef Ttek","startTime":2115.94,"endTime":2119.42,"body":"stupid shit like some"},{"speaker":"Josef Ttek","startTime":2115.94,"endTime":2119.42,"body":"consumption. And such entity, if"},{"speaker":"Josef Ttek","startTime":2119.42,"endTime":2123.71,"body":"you like, have bigger problems"},{"speaker":"Josef Ttek","startTime":2119.42,"endTime":2123.71,"body":"than that if you have to save up"},{"speaker":"Josef Ttek","startTime":2123.71,"endTime":2128.57,"body":"or repay your debts, it's just a"},{"speaker":"Josef Ttek","startTime":2123.71,"endTime":2128.57,"body":"crazy amount of social"},{"speaker":"Josef Ttek","startTime":2128.57,"endTime":2134.24,"body":"engineering. And the other"},{"speaker":"Josef Ttek","startTime":2128.57,"endTime":2134.24,"body":"proposal that's, like, advocated"},{"speaker":"Josef Ttek","startTime":2134.24,"endTime":2138.89,"body":"as like cbdcs, are going to be"},{"speaker":"Josef Ttek","startTime":2134.24,"endTime":2138.89,"body":"programmable. So we can do like"},{"speaker":"Josef Ttek","startTime":2138.95,"endTime":2143.57,"body":"any type of monetary policy"},{"speaker":"Josef Ttek","startTime":2138.95,"endTime":2143.57,"body":"stuff in it. But this just means"},{"speaker":"Josef Ttek","startTime":2143.57,"endTime":2149.66,"body":"social engineering can. Another"},{"speaker":"Josef Ttek","startTime":2143.57,"endTime":2149.66,"body":"type of that is that cbdcs would"},{"speaker":"Josef Ttek","startTime":2149.66,"endTime":2155.45,"body":"be just sector specific. Meaning"},{"speaker":"Josef Ttek","startTime":2149.66,"endTime":2155.45,"body":"you wouldn't be able to, like"},{"speaker":"Josef Ttek","startTime":2155.45,"endTime":2160.1,"body":"buy bitcoin with the stimulus,"},{"speaker":"Josef Ttek","startTime":2155.45,"endTime":2160.1,"body":"or pay down your debt with the"},{"speaker":"Josef Ttek","startTime":2160.1,"endTime":2164.45,"body":"stimulus, you will be only able"},{"speaker":"Josef Ttek","startTime":2160.1,"endTime":2164.45,"body":"to, for example, buy groceries"},{"speaker":"Josef Ttek","startTime":2164.78,"endTime":2171.59,"body":"with the stimulus. And, like,"},{"speaker":"Josef Ttek","startTime":2164.78,"endTime":2171.59,"body":"that's interesting, because with"},{"speaker":"Josef Ttek","startTime":2171.59,"endTime":2177.56,"body":"debt approach, fiat money is"},{"speaker":"Josef Ttek","startTime":2171.59,"endTime":2177.56,"body":"actually losing the property of"},{"speaker":"Josef Ttek","startTime":2177.59,"endTime":2183.11,"body":"money. Like it's universally"},{"speaker":"Josef Ttek","startTime":2177.59,"endTime":2183.11,"body":"accepted. It's fungible, and"},{"speaker":"Josef Ttek","startTime":2183.11,"endTime":2188.18,"body":"such. So if cbdcs are introduced"},{"speaker":"Josef Ttek","startTime":2183.11,"endTime":2188.18,"body":"in these, like dystopian kind of"},{"speaker":"Josef Ttek","startTime":2188.18,"endTime":2193.67,"body":"ways. It's, I guess, it's good"},{"speaker":"Josef Ttek","startTime":2188.18,"endTime":2193.67,"body":"for Bitcoin, because bitcoins"},{"speaker":"Josef Ttek","startTime":2193.67,"endTime":2199.91,"body":"monetary qualities are heavily"},{"speaker":"Josef Ttek","startTime":2193.67,"endTime":2199.91,"body":"accented by that. But it would"},{"speaker":"Josef Ttek","startTime":2199.91,"endTime":2204.95,"body":"be very bad for like ordinary"},{"speaker":"Josef Ttek","startTime":2199.91,"endTime":2204.95,"body":"people that have to earn a wage,"},{"speaker":"Josef Ttek","startTime":2205.37,"endTime":2209.99,"body":"they have to get some kind of"},{"speaker":"Josef Ttek","startTime":2205.37,"endTime":2209.99,"body":"welfare from the state, maybe"},{"speaker":"Josef Ttek","startTime":2209.99,"endTime":2214.4,"body":"because the state prohibits them"},{"speaker":"Josef Ttek","startTime":2209.99,"endTime":2214.4,"body":"from working like to some COVID"},{"speaker":"Josef Ttek","startTime":2214.55,"endTime":2221.09,"body":"policies. So it's really like"},{"speaker":"Josef Ttek","startTime":2214.55,"endTime":2221.09,"body":"dystopian, but, you know, there"},{"speaker":"Josef Ttek","startTime":2221.09,"endTime":2224.48,"body":"are basically two types of"},{"speaker":"Josef Ttek","startTime":2221.09,"endTime":2224.48,"body":"cbdcs. There's the wholesale"},{"speaker":"Josef Ttek","startTime":2224.48,"endTime":2229.82,"body":"cbdc, which will replace the"},{"speaker":"Josef Ttek","startTime":2224.48,"endTime":2229.82,"body":"bank reserves with the central"},{"speaker":"Josef Ttek","startTime":2229.82,"endTime":2233.15,"body":"banks. And that's not really"},{"speaker":"Josef Ttek","startTime":2229.82,"endTime":2233.15,"body":"disruptive and not really"},{"speaker":"Josef Ttek","startTime":2233.15,"endTime":2237.92,"body":"interesting, I think. And then"},{"speaker":"Josef Ttek","startTime":2233.15,"endTime":2237.92,"body":"there's the retail cbdc, which"},{"speaker":"Josef Ttek","startTime":2237.92,"endTime":2244.43,"body":"will actually replace coins and"},{"speaker":"Josef Ttek","startTime":2237.92,"endTime":2244.43,"body":"notes and bank accounts. It will"},{"speaker":"Josef Ttek","startTime":2244.46,"endTime":2248.87,"body":"basically disintermediate"},{"speaker":"Josef Ttek","startTime":2244.46,"endTime":2248.87,"body":"commercial banks, so it would"},{"speaker":"Josef Ttek","startTime":2248.87,"endTime":2254.18,"body":"probably be a heavy blow for the"},{"speaker":"Josef Ttek","startTime":2248.87,"endTime":2254.18,"body":"banking sector. And we should be"},{"speaker":"Josef Ttek","startTime":2254.18,"endTime":2259.04,"body":"afraid of like, the monetary"},{"speaker":"Josef Ttek","startTime":2254.18,"endTime":2259.04,"body":"shenanigans that would come with"},{"speaker":"Josef Ttek","startTime":2259.04,"endTime":2265.34,"body":"that. Like what I said,"},{"speaker":"Josef Ttek","startTime":2259.04,"endTime":2265.34,"body":"basically central bank could do"},{"speaker":"Josef Ttek","startTime":2265.43,"endTime":2268.31,"body":"anything with your money and it"},{"speaker":"Josef Ttek","startTime":2265.43,"endTime":2268.31,"body":"wouldn't be your money anymore."},{"speaker":"Matt Zahab","startTime":2268.66,"endTime":2272.44,"body":"That's again, wow,"},{"speaker":"Matt Zahab","startTime":2268.66,"endTime":2272.44,"body":"I've never really heard of the"},{"speaker":"Matt Zahab","startTime":2272.44,"endTime":2277.21,"body":"whole wholesale versus retail"},{"speaker":"Matt Zahab","startTime":2272.44,"endTime":2277.21,"body":"aspect that before. Another"},{"speaker":"Matt Zahab","startTime":2277.21,"endTime":2281.44,"body":"thing touching on the inflation"},{"speaker":"Matt Zahab","startTime":2277.21,"endTime":2281.44,"body":"points, and I know you're a big"},{"speaker":"Matt Zahab","startTime":2282.46,"endTime":2285.73,"body":"advocate of this is the sort of"},{"speaker":"Matt Zahab","startTime":2282.46,"endTime":2285.73,"body":"low key inflation that's"},{"speaker":"Matt Zahab","startTime":2285.73,"endTime":2287.98,"body":"happening all over the world,"},{"speaker":"Matt Zahab","startTime":2285.73,"endTime":2287.98,"body":"especially in the States right"},{"speaker":"Matt Zahab","startTime":2287.98,"endTime":2292.15,"body":"now. I'm in Florida, and even"},{"speaker":"Matt Zahab","startTime":2287.98,"endTime":2292.15,"body":"just being here back in January,"},{"speaker":"Matt Zahab","startTime":2292.15,"endTime":2296.71,"body":"and being here now in end of"},{"speaker":"Matt Zahab","startTime":2292.15,"endTime":2296.71,"body":"April, the price of everything"},{"speaker":"Matt Zahab","startTime":2296.71,"endTime":2300.79,"body":"has very quickly gone up the"},{"speaker":"Matt Zahab","startTime":2296.71,"endTime":2300.79,"body":"price of you know toilet paper,"},{"speaker":"Matt Zahab","startTime":2300.79,"endTime":2303.58,"body":"paper towel, bananas, apples,"},{"speaker":"Matt Zahab","startTime":2300.79,"endTime":2303.58,"body":"you name it, the everyday things"},{"speaker":"Matt Zahab","startTime":2303.58,"endTime":2307.93,"body":"are going up by cents, and the"},{"speaker":"Matt Zahab","startTime":2303.58,"endTime":2307.93,"body":"quantity is going down. Besides"},{"speaker":"Matt Zahab","startTime":2307.93,"endTime":2310.69,"body":"Bitcoin and a couple other"},{"speaker":"Matt Zahab","startTime":2307.93,"endTime":2310.69,"body":"cryptocurrencies, what do you"},{"speaker":"Matt Zahab","startTime":2310.69,"endTime":2313.51,"body":"recommend for the average"},{"speaker":"Matt Zahab","startTime":2310.69,"endTime":2313.51,"body":"consumer to sort of hedge"},{"speaker":"Matt Zahab","startTime":2313.72,"endTime":2314.41,"body":"inflation?"},{"speaker":"Josef Ttek","startTime":2314.71,"endTime":2319.87,"body":"Yeah well, one"},{"speaker":"Josef Ttek","startTime":2314.71,"endTime":2319.87,"body":"important feature of inflation"},{"speaker":"Josef Ttek","startTime":2319.87,"endTime":2325.33,"body":"is pricing. Prices are just one"},{"speaker":"Josef Ttek","startTime":2319.87,"endTime":2325.33,"body":"of the possible ways how"},{"speaker":"Josef Ttek","startTime":2325.33,"endTime":2330.22,"body":"inflation can basically happen."},{"speaker":"Josef Ttek","startTime":2325.33,"endTime":2330.22,"body":"The other possibility is the"},{"speaker":"Josef Ttek","startTime":2330.22,"endTime":2334.39,"body":"short inflation, as you"},{"speaker":"Josef Ttek","startTime":2330.22,"endTime":2334.39,"body":"mentioned, like toilet papers"},{"speaker":"Josef Ttek","startTime":2334.63,"endTime":2339.31,"body":"have a fewer. I don't know how"},{"speaker":"Josef Ttek","startTime":2334.63,"endTime":2339.31,"body":"to say like, fewer shots"},{"speaker":"Matt Zahab","startTime":2341.85,"endTime":2344.13,"body":"Fewer pieces less"},{"speaker":"Matt Zahab","startTime":2341.85,"endTime":2344.13,"body":"shitter tickets,"},{"speaker":"Josef Ttek","startTime":2344.13,"endTime":2348.42,"body":"Yeah. And like the"},{"speaker":"Josef Ttek","startTime":2344.13,"endTime":2348.42,"body":"packages are getting smaller,"},{"speaker":"Josef Ttek","startTime":2348.45,"endTime":2354.3,"body":"and like, bottles are getting"},{"speaker":"Josef Ttek","startTime":2348.45,"endTime":2354.3,"body":"smaller, and such. So that's"},{"speaker":"Josef Ttek","startTime":2354.3,"endTime":2358.29,"body":"sure inflation and it's actually"},{"speaker":"Josef Ttek","startTime":2354.3,"endTime":2358.29,"body":"preferable by the manufacturers"},{"speaker":"Josef Ttek","startTime":2358.5,"endTime":2364.05,"body":"to keep the retail price and"},{"speaker":"Josef Ttek","startTime":2358.5,"endTime":2364.05,"body":"just shrink the packaging and"},{"speaker":"Josef Ttek","startTime":2364.05,"endTime":2370.29,"body":"shrink the contents. And the"},{"speaker":"Josef Ttek","startTime":2364.05,"endTime":2370.29,"body":"third option is what I call like"},{"speaker":"Josef Ttek","startTime":2370.32,"endTime":2375.84,"body":"corrupflation, where you lower"},{"speaker":"Josef Ttek","startTime":2370.32,"endTime":2375.84,"body":"the quality of the products. And"},{"speaker":"Josef Ttek","startTime":2375.87,"endTime":2380.34,"body":"yeah, like if you have chocolate"},{"speaker":"Josef Ttek","startTime":2375.87,"endTime":2380.34,"body":"bars, what happens over the"},{"speaker":"Josef Ttek","startTime":2380.34,"endTime":2383.31,"body":"years is they are getting"},{"speaker":"Josef Ttek","startTime":2380.34,"endTime":2383.31,"body":"smaller because of inflation,"},{"speaker":"Josef Ttek","startTime":2383.58,"endTime":2389.91,"body":"but they also have lower, like"},{"speaker":"Josef Ttek","startTime":2383.58,"endTime":2389.91,"body":"cocoa powder content and more"},{"speaker":"Josef Ttek","startTime":2389.91,"endTime":2391.32,"body":"sugar and more."},{"speaker":"Matt Zahab","startTime":2392.08,"endTime":2392.86,"body":"More fillers."},{"speaker":"Josef Ttek","startTime":2392.87,"endTime":2396.8,"body":"More fillers. Yeah."},{"speaker":"Josef Ttek","startTime":2392.87,"endTime":2396.8,"body":"So that's how inflation happens"},{"speaker":"Josef Ttek","startTime":2396.8,"endTime":2400.4,"body":"as well. When it comes to"},{"speaker":"Josef Ttek","startTime":2396.8,"endTime":2400.4,"body":"hedging against inflation, I"},{"speaker":"Josef Ttek","startTime":2400.4,"endTime":2404.72,"body":"think Bitcoin is still the best"},{"speaker":"Josef Ttek","startTime":2400.4,"endTime":2404.72,"body":"long term hedge against that."},{"speaker":"Josef Ttek","startTime":2405.71,"endTime":2411.38,"body":"And what's also good is like"},{"speaker":"Josef Ttek","startTime":2405.71,"endTime":2411.38,"body":"having the skill set, not being"},{"speaker":"Josef Ttek","startTime":2411.38,"endTime":2416.39,"body":"a total corporate slave wage,"},{"speaker":"Josef Ttek","startTime":2411.38,"endTime":2416.39,"body":"because you can find out that"},{"speaker":"Josef Ttek","startTime":2416.39,"endTime":2421.76,"body":"you're redundant and"},{"speaker":"Josef Ttek","startTime":2416.39,"endTime":2421.76,"body":"replaceable. Yeah, and that's"},{"speaker":"Josef Ttek","startTime":2421.76,"endTime":2427.49,"body":"the other problem with the"},{"speaker":"Josef Ttek","startTime":2421.76,"endTime":2427.49,"body":"pressure to increase the minimum"},{"speaker":"Josef Ttek","startTime":2427.49,"endTime":2434.84,"body":"wages, and like making the labor"},{"speaker":"Josef Ttek","startTime":2427.49,"endTime":2434.84,"body":"laws more hard to follow by the"},{"speaker":"Josef Ttek","startTime":2434.84,"endTime":2439.13,"body":"manufacturers, that people are"},{"speaker":"Josef Ttek","startTime":2434.84,"endTime":2439.13,"body":"getting priced out from the"},{"speaker":"Josef Ttek","startTime":2439.13,"endTime":2444.14,"body":"market by the robots or some"},{"speaker":"Josef Ttek","startTime":2439.13,"endTime":2444.14,"body":"software solutions in such. So"},{"speaker":"Josef Ttek","startTime":2444.62,"endTime":2450.95,"body":"you should always build in a"},{"speaker":"Josef Ttek","startTime":2444.62,"endTime":2450.95,"body":"unique skill set. And Sandra"},{"speaker":"Josef Ttek","startTime":2452.15,"endTime":2456.71,"body":"said you should invest in"},{"speaker":"Josef Ttek","startTime":2452.15,"endTime":2456.71,"body":"education, not speculation. You"},{"speaker":"Josef Ttek","startTime":2456.71,"endTime":2460.67,"body":"should view Bitcoin as a hedge"},{"speaker":"Josef Ttek","startTime":2456.71,"endTime":2460.67,"body":"against inflation as a long term"},{"speaker":"Josef Ttek","startTime":2460.67,"endTime":2466.07,"body":"savings, not as a speculative"},{"speaker":"Josef Ttek","startTime":2460.67,"endTime":2466.07,"body":"instrument for some short term"},{"speaker":"Josef Ttek","startTime":2466.13,"endTime":2470.09,"body":"gain. And besides that, besides"},{"speaker":"Josef Ttek","startTime":2466.13,"endTime":2470.09,"body":"saving in Bitcoin, you should"},{"speaker":"Josef Ttek","startTime":2470.09,"endTime":2473.03,"body":"just build your own unique skill"},{"speaker":"Josef Ttek","startTime":2470.09,"endTime":2473.03,"body":"set."},{"speaker":"Matt Zahab","startTime":2473.51,"endTime":2476.15,"body":"I love that line,"},{"speaker":"Matt Zahab","startTime":2473.51,"endTime":2476.15,"body":"invest in education over"},{"speaker":"Matt Zahab","startTime":2476.15,"endTime":2478.37,"body":"inflation. I don't think I've"},{"speaker":"Matt Zahab","startTime":2476.15,"endTime":2478.37,"body":"ever heard that you got a patent"},{"speaker":"Matt Zahab","startTime":2478.37,"endTime":2478.52,"body":"that."},{"speaker":"Josef Ttek","startTime":2479.41,"endTime":2480.94,"body":"Over speculation."},{"speaker":"Josef Ttek","startTime":2479.41,"endTime":2480.94,"body":"Yeah."},{"speaker":"Matt Zahab","startTime":2481.12,"endTime":2483.7,"body":"Yeah. Invest in"},{"speaker":"Matt Zahab","startTime":2481.12,"endTime":2483.7,"body":"education over speculation that"},{"speaker":"Matt Zahab","startTime":2483.7,"endTime":2487.39,"body":"was it. I love that. Josef, this"},{"speaker":"Matt Zahab","startTime":2483.7,"endTime":2487.39,"body":"has been incredible. A couple"},{"speaker":"Matt Zahab","startTime":2487.39,"endTime":2490.69,"body":"more rapid fire questions before"},{"speaker":"Matt Zahab","startTime":2487.39,"endTime":2490.69,"body":"we finish up here. What is going"},{"speaker":"Matt Zahab","startTime":2490.69,"endTime":2494.11,"body":"to happen first Bitcoin at 100k"},{"speaker":"Matt Zahab","startTime":2490.69,"endTime":2494.11,"body":"or Ethereum at 5k?"},{"speaker":"Josef Ttek","startTime":2496.48,"endTime":2497.65,"body":"I'd go with Bitcoin"},{"speaker":"Matt Zahab","startTime":2497.74,"endTime":2501.46,"body":"Bitcoin at 100k. And"},{"speaker":"Matt Zahab","startTime":2497.74,"endTime":2501.46,"body":"when will Bitcoin hit 100k?"},{"speaker":"Josef Ttek","startTime":2501.42,"endTime":2504.69,"body":"Oh, well it can be"},{"speaker":"Josef Ttek","startTime":2501.42,"endTime":2504.69,"body":"like, next month, or it's gonna"},{"speaker":"Josef Ttek","startTime":2504.69,"endTime":2510.06,"body":"be a year from now? Well, I"},{"speaker":"Josef Ttek","startTime":2504.69,"endTime":2510.06,"body":"don't like these short term"},{"speaker":"Josef Ttek","startTime":2510.06,"endTime":2513.9,"body":"price predictions, you know,"},{"speaker":"Josef Ttek","startTime":2510.06,"endTime":2513.9,"body":"it's going to get there. And I"},{"speaker":"Josef Ttek","startTime":2513.9,"endTime":2518.55,"body":"think Bitcoin is going to reach"},{"speaker":"Josef Ttek","startTime":2513.9,"endTime":2518.55,"body":"the gold market cap parity,"},{"speaker":"Josef Ttek","startTime":2518.91,"endTime":2525.81,"body":"which is like 600k I think right"},{"speaker":"Josef Ttek","startTime":2518.91,"endTime":2525.81,"body":"now. And like in today's world,"},{"speaker":"Josef Ttek","startTime":2525.87,"endTime":2531.42,"body":"it's absurd to think Bitcoin"},{"speaker":"Josef Ttek","startTime":2525.87,"endTime":2531.42,"body":"should be priced lower than"},{"speaker":"Josef Ttek","startTime":2531.42,"endTime":2535.68,"body":"gold, because Bitcoin has much"},{"speaker":"Josef Ttek","startTime":2531.42,"endTime":2535.68,"body":"better monetary qualities than"},{"speaker":"Josef Ttek","startTime":2535.68,"endTime":2540.81,"body":"gold. And all the gold has going"},{"speaker":"Josef Ttek","startTime":2535.68,"endTime":2540.81,"body":"for it is basically the Lindy"},{"speaker":"Josef Ttek","startTime":2540.81,"endTime":2544.41,"body":"effect that it's been used for"},{"speaker":"Josef Ttek","startTime":2540.81,"endTime":2544.41,"body":"1000s of years. But Bitcoin is"},{"speaker":"Josef Ttek","startTime":2544.44,"endTime":2550.11,"body":"much better as money. Yeah, so"},{"speaker":"Josef Ttek","startTime":2544.44,"endTime":2550.11,"body":"it's going to happen. But you"},{"speaker":"Josef Ttek","startTime":2550.11,"endTime":2553.17,"body":"know, you should be happy if"},{"speaker":"Josef Ttek","startTime":2550.11,"endTime":2553.17,"body":"Bitcoin falls, because then you"},{"speaker":"Josef Ttek","startTime":2553.17,"endTime":2557.7,"body":"can stake more sets and tha"},{"speaker":"Josef Ttek","startTime":2553.17,"endTime":2557.7,"body":"'s good for your future. Yea"},{"speaker":"Josef Ttek","startTime":2557.85,"endTime":2562.95,"body":". So just be patient and sta"},{"speaker":"Josef Ttek","startTime":2557.85,"endTime":2562.95,"body":"e sets and, you know, be pro"},{"speaker":"Josef Ttek","startTime":2562.95,"endTime":2564.24,"body":"uctive in the meantime,"},{"speaker":"Matt Zahab","startTime":2564.6,"endTime":2567.54,"body":"Which of the G 20"},{"speaker":"Matt Zahab","startTime":2564.6,"endTime":2567.54,"body":"countries will be the first to"},{"speaker":"Matt Zahab","startTime":2567.54,"endTime":2568.95,"body":"adopt a cbdc?"},{"speaker":"Josef Ttek","startTime":2569.1,"endTime":2573.99,"body":"Oh yeah, that's a"},{"speaker":"Josef Ttek","startTime":2569.1,"endTime":2573.99,"body":"tough one. I don't know. Like if"},{"speaker":"Josef Ttek","startTime":2573.99,"endTime":2581.19,"body":"China is in the G 20. If yes, is"},{"speaker":"Josef Ttek","startTime":2573.99,"endTime":2581.19,"body":"going to be China. If not, well,"},{"speaker":"Josef Ttek","startTime":2582.6,"endTime":2588.63,"body":"maybe it could be someone like"},{"speaker":"Josef Ttek","startTime":2582.6,"endTime":2588.63,"body":"UK because they are not part of"},{"speaker":"Josef Ttek","startTime":2588.63,"endTime":2592.62,"body":"Eurozone, I think things are"},{"speaker":"Josef Ttek","startTime":2588.63,"endTime":2592.62,"body":"going to move slowly in the Eu"},{"speaker":"Josef Ttek","startTime":2592.62,"endTime":2597.78,"body":"ozone. I think it's going to mov"},{"speaker":"Josef Ttek","startTime":2592.62,"endTime":2597.78,"body":"slowly for United States as wel"},{"speaker":"Josef Ttek","startTime":2597.78,"endTime":2603.3,"body":". Like recently, I've seen a"},{"speaker":"Josef Ttek","startTime":2597.78,"endTime":2603.3,"body":"interesting paper from Swiss"},{"speaker":"Josef Ttek","startTime":2603.3,"endTime":2608.25,"body":"ational Bank that's writte"},{"speaker":"Josef Ttek","startTime":2603.3,"endTime":2608.25,"body":"by David charm, like the grandf"},{"speaker":"Josef Ttek","startTime":2608.25,"endTime":2612.12,"body":"ther of cryptocurrencies. So tha"},{"speaker":"Josef Ttek","startTime":2608.25,"endTime":2612.12,"body":"'s a pretty solid paper. And co"},{"speaker":"Josef Ttek","startTime":2612.12,"endTime":2618.27,"body":"pared to most cbdc propos"},{"speaker":"Josef Ttek","startTime":2612.12,"endTime":2618.27,"body":"ls, it's not built on blockc"},{"speaker":"Josef Ttek","startTime":2618.27,"endTime":2623.01,"body":"ain. And it comes with strong"},{"speaker":"Josef Ttek","startTime":2618.27,"endTime":2623.01,"body":"privacy features. So it will b"},{"speaker":"Josef Ttek","startTime":2623.01,"endTime":2628.92,"body":"very good if this cbdc will b"},{"speaker":"Josef Ttek","startTime":2623.01,"endTime":2628.92,"body":"the one to be launched and to"},{"speaker":"Josef Ttek","startTime":2628.92,"endTime":2636.66,"body":"e an example for the other ones."},{"speaker":"Josef Ttek","startTime":2628.92,"endTime":2636.66,"body":"Yeah, so it's going to be China,"},{"speaker":"Josef Ttek","startTime":2637.11,"endTime":2640.17,"body":"I think from the major countrie"},{"speaker":"Josef Ttek","startTime":2637.11,"endTime":2640.17,"body":"is going to be China."},{"speaker":"Matt Zahab","startTime":2641.28,"endTime":2644.04,"body":"Nice. And last"},{"speaker":"Matt Zahab","startTime":2641.28,"endTime":2644.04,"body":"question before you go. Will you"},{"speaker":"Matt Zahab","startTime":2644.04,"endTime":2648.93,"body":"be at the Bitcoin conference in"},{"speaker":"Matt Zahab","startTime":2644.04,"endTime":2648.93,"body":"Miami, and in a month or so"},{"speaker":"Josef Ttek","startTime":2650.7,"endTime":2656.13,"body":"I'm not going to be"},{"speaker":"Josef Ttek","startTime":2650.7,"endTime":2656.13,"body":"there personally. But two other"},{"speaker":"Josef Ttek","startTime":2656.13,"endTime":2663.36,"body":"guys from the shops from Trezor"},{"speaker":"Josef Ttek","startTime":2656.13,"endTime":2663.36,"body":"should be there to introduce and"},{"speaker":"Josef Ttek","startTime":2663.36,"endTime":2669.0,"body":"launch the Trezor suite. And"},{"speaker":"Josef Ttek","startTime":2663.36,"endTime":2669.0,"body":"they are basically the product"},{"speaker":"Josef Ttek","startTime":2669.0,"endTime":2674.25,"body":"owner of the suite so they are"},{"speaker":"Josef Ttek","startTime":2669.0,"endTime":2674.25,"body":"much more appropriate to talk"},{"speaker":"Josef Ttek","startTime":2674.25,"endTime":2679.47,"body":"about the features in there. And"},{"speaker":"Josef Ttek","startTime":2674.25,"endTime":2679.47,"body":"so hopefully, they'll be able to"},{"speaker":"Josef Ttek","startTime":2680.19,"endTime":2684.93,"body":"attend in person, its kind of"},{"speaker":"Josef Ttek","startTime":2680.19,"endTime":2684.93,"body":"hard to you know, travel"},{"speaker":"Josef Ttek","startTime":2684.93,"endTime":2688.38,"body":"overseas right now. But"},{"speaker":"Josef Ttek","startTime":2684.93,"endTime":2688.38,"body":"hopefully they'll sort it out"},{"speaker":"Josef Ttek","startTime":2688.38,"endTime":2689.07,"body":"and be there."},{"speaker":"Matt Zahab","startTime":2689.94,"endTime":2691.86,"body":"Josef, this has"},{"speaker":"Matt Zahab","startTime":2689.94,"endTime":2691.86,"body":"een incredible. Really"},{"speaker":"Matt Zahab","startTime":2691.86,"endTime":2694.89,"body":"ppreciate your time. I learned"},{"speaker":"Matt Zahab","startTime":2691.86,"endTime":2694.89,"body":"lot in this episode, and I'm"},{"speaker":"Matt Zahab","startTime":2694.89,"endTime":2699.18,"body":"ure our guests did as well."},{"speaker":"Matt Zahab","startTime":2694.89,"endTime":2699.18,"body":"hank you so much for coming on."},{"speaker":"Matt Zahab","startTime":2699.18,"endTime":2702.75,"body":"efore we let you can you please"},{"speaker":"Matt Zahab","startTime":2699.18,"endTime":2702.75,"body":"et us know where we can find"},{"speaker":"Matt Zahab","startTime":2702.78,"endTime":2707.37,"body":"ou and Trezor and Satoshi labs"},{"speaker":"Matt Zahab","startTime":2702.78,"endTime":2707.37,"body":"n socials?"},{"speaker":"Josef Ttek","startTime":2707.48,"endTime":2713.99,"body":"Sure. So, Trezor is"},{"speaker":"Josef Ttek","startTime":2707.48,"endTime":2713.99,"body":"at Trezor on Twitter, I can be"},{"speaker":"Josef Ttek","startTime":2713.99,"endTime":2722.0,"body":"found as SatsJoseph, also on"},{"speaker":"Josef Ttek","startTime":2713.99,"endTime":2722.0,"body":"Twitter. And our main form of"},{"speaker":"Josef Ttek","startTime":2722.0,"endTime":2727.82,"body":"communication with people is to"},{"speaker":"Josef Ttek","startTime":2722.0,"endTime":2727.82,"body":"newsletter where you can always"},{"speaker":"Josef Ttek","startTime":2727.82,"endTime":2732.65,"body":"find like the latest features"},{"speaker":"Josef Ttek","startTime":2727.82,"endTime":2732.65,"body":"and firmware updates and such."},{"speaker":"Josef Ttek","startTime":2733.04,"endTime":2735.71,"body":"And you can also find everything"},{"speaker":"Josef Ttek","startTime":2733.04,"endTime":2735.71,"body":"on block.Trezor.io."},{"speaker":"Matt Zahab","startTime":2737.66,"endTime":2740.57,"body":"Awesome. Josef,"},{"speaker":"Matt Zahab","startTime":2737.66,"endTime":2740.57,"body":"hank you so much. Folks, I hope"},{"speaker":"Matt Zahab","startTime":2740.57,"endTime":2745.64,"body":"ou enjoyed this episode. This"},{"speaker":"Matt Zahab","startTime":2740.57,"endTime":2745.64,"body":"as an absolute treat. And"},{"speaker":"Matt Zahab","startTime":2746.09,"endTime":2747.92,"body":"osef thank you so much for j"},{"speaker":"Matt Zahab","startTime":2746.09,"endTime":2747.92,"body":"mping on. Hopefully we can h"},{"speaker":"Matt Zahab","startTime":2747.92,"endTime":2749.18,"body":"ve you on for round two s"},{"speaker":"Matt Zahab","startTime":2747.92,"endTime":2749.18,"body":"ortly."},{"speaker":"Josef Ttek","startTime":2749.3,"endTime":2750.83,"body":"Thank you. Yeah, it"},{"speaker":"Josef Ttek","startTime":2749.3,"endTime":2750.83,"body":"was a great."},{"speaker":"Matt Zahab","startTime":2750.92,"endTime":2755.27,"body":"Folks this was the"},{"speaker":"Matt Zahab","startTime":2750.92,"endTime":2755.27,"body":"cryptonews podcast. Thank you"},{"speaker":"Matt Zahab","startTime":2755.27,"endTime":2758.69,"body":"for tuning in. As always, if you"},{"speaker":"Matt Zahab","startTime":2755.27,"endTime":2758.69,"body":"enjoyed listening to this"},{"speaker":"Matt Zahab","startTime":2758.69,"endTime":2763.64,"body":"episode, please give us a"},{"speaker":"Matt Zahab","startTime":2758.69,"endTime":2763.64,"body":"follow. Subscribe to our"},{"speaker":"Matt Zahab","startTime":2763.64,"endTime":2769.22,"body":"channels on Apple podcasts,"},{"speaker":"Matt Zahab","startTime":2763.64,"endTime":2769.22,"body":"Spotify podcasts, and I just"},{"speaker":"Matt Zahab","startTime":2769.22,"endTime":2772.37,"body":"want to give a big shout out a"},{"speaker":"Matt Zahab","startTime":2769.22,"endTime":2772.37,"body":"big thank you to our team, the"},{"speaker":"Matt Zahab","startTime":2772.37,"endTime":2774.59,"body":"whole team at cryptonews,"},{"speaker":"Matt Zahab","startTime":2772.37,"endTime":2774.59,"body":"everyone has been absolutely"},{"speaker":"Matt Zahab","startTime":2774.59,"endTime":2777.38,"body":"crushing, couldn't do this"},{"speaker":"Matt Zahab","startTime":2774.59,"endTime":2777.38,"body":"without you, and mor"},{"speaker":"Matt Zahab","startTime":2777.38,"endTime":2781.55,"body":"importantly, our incredibl"},{"speaker":"Matt Zahab","startTime":2777.38,"endTime":2781.55,"body":"sound guy Justas who crushe"},{"speaker":"Matt Zahab","startTime":2781.55,"endTime":2784.97,"body":"this every single time, th"},{"speaker":"Matt Zahab","startTime":2781.55,"endTime":2784.97,"body":"jingle the clean up couldn't d"},{"speaker":"Matt Zahab","startTime":2784.97,"endTime":2787.88,"body":"without him your staff throug"},{"speaker":"Matt Zahab","startTime":2784.97,"endTime":2787.88,"body":"the man. Appreciate you folk"},{"speaker":"Matt Zahab","startTime":2787.88,"endTime":2790.64,"body":"Hope you enjoyed listening t"},{"speaker":"Matt Zahab","startTime":2787.88,"endTime":2790.64,"body":"this. And again, we are th"},{"speaker":"Matt Zahab","startTime":2790.64,"endTime":2793.88,"body":"cryptonews podcast. You can fin"},{"speaker":"Matt Zahab","startTime":2790.64,"endTime":2793.88,"body":"more about us at cryptonews.com"},{"speaker":"Matt Zahab","startTime":2794.81,"endTime":2797.45,"body":"And on all socials, we ar"},{"speaker":"Matt Zahab","startTime":2794.81,"endTime":2797.45,"body":"cryptoNews. Thanks again hop"},{"speaker":"Matt Zahab","startTime":2797.45,"endTime":2799.88,"body":"you have a wonderful day and w"},{"speaker":"Matt Zahab","startTime":2797.45,"endTime":2799.88,"body":"will keep in touch. All th"},{"speaker":"Matt Zahab","startTime":2799.88,"endTime":2800.21,"body":"best"}]}