Episode Highlights:

  • 00:02 – Kardashian Theory
  • 07:57 – Open Bazaar
  • 09:08 – The Money Button
  • 09:27 – Decentralized Exchanges
  • 10:21 – Decentralized Internet

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Transcription:

Hey, what’s up, guys? It’s Dan again

00:02 – KARDASHIAN THEORY

And hey guys, I am sitting here and I literally just posted a blog post to my Bitcoin talk profile crypto Camacho and you can see the post I made right here. And I’ll get to that in just a second. I made this post on the Bitcoin talk forum called the Kardashian theory. and the original question was our Bitcoin and Bitcoin cash two sides of the same coin. Some folks have accused the two cryptos of being part of the same incestuous family of elites supporting different narratives for the purpose of a common or single goal. Is it possible that BTC is Kim and BCH is Chloe? Both working to steer the Sheep to a new shiny cryptocurrency that they ultimately control, if this is the case what Kardashian would Roger ver be? So, that was my original post on Bitcoin talk right. And I posted this because I want to know what the community thinks about Bitcoin and Bitcoin cash, Bitcoin core and Bitcoin cash and how in if it’s possible that they are part of kind of the same kind of power structure that’s really implementing them. I don’t necessarily think that myself, but I wanted to pose the question to the community. So, I did get a number of responses and you could read the responses here in the forum posts. I’ll put it in the show notes here, but then I posted another post on this thread about Bitcoin cash, Bitcoin core and so forth. because I got this comment that from this guy named brew master, he says “there’s a lot of weird theories out there and mostly they exist to undermine Bitcoin and bring down to their own centralized the level” I do believe that you were wrong about Bitcoin and if some day I found out that I was wrong, I will sell my Bitcoins and move on because I’m involved in Bitcoin only as long as it has certain attributes and most important one is the decentralization which is why I stay from certain altcoins such as Bitcoin cash. So, this post got me kind of worked up, because I was just thinking in my head there are so many people that are misled and misled by Bitcoin core and just the media in general right. Bitcoin core is probably the more centralized coin out there in my opinion right. I’m one person, but in my opinion, looking at block stream, looking how the hard work happened, looking at how you know the two camps, the two developer camps you know parted ways. It’s very clear that lightning Network that segregated witness is definitely more centralized than Bitcoin cash and people argue that Bitcoin cash is going to become centralized because the mining will become centralized to a few conglomerates or a few monopolies such as bit main you know controlled by Jihan whoo. And the truth is it doesn’t really matter if the mining becomes centralized, because Bitcoin only has a limited supply of tokens right. 21 million for both Bitcoin core and Bitcoin cash and as soon as those coins are mined, it’s irrelevant whether or not the mining is centralized or not because the coins will already be mined. It will already have their value and we’re going to be entering this age of constantly changing cryptocurrencies where literally anybody can create and clone an existing cryptocurrencies or make their own cryptocurrencies and really the one cryptocurrency or the few cryptocurrencies with the most utility are going to win out. They’re just going to beat out just plain and simple that’s just how the nature of economics, the nature of kind of business and work works. I mean the more efficient process, the more efficient business, the more efficient or valuable process or business or in this case token with the most and highest utility are going to win right. so, I started making this post to this guy brewmaster and kind of explaining this to him and I start writing you know this post and as I start thinking about it. I’m telling him look, the reason I switched from Bitcoin core to Bitcoin cash is purely because of utility and because of the actual fact and reason that I can use Bitcoin cash and I can’t use Bitcoin core. So, the reason I got into two cryptocurrency in the first place about a year and a half ago or so is because I wanted to make a purchase or a transaction on the internet using cryptocurrency, using Bitcoin. So, I bought my first Bitcoin on Coinbase. Got my first wallet using electron and from there I started using Bitcoin BTC right. And that was a while back before Bitcoin cash was even created. Why did I start using cryptocurrency? Because I realize I can actually use it as digital money and wanted to see how it worked. I wanted to test it. I used a Bitcoin for a while to make transactions to buy things on the internet using Bitcoin BTC after I did that for a while, as time went on I noticed that the fees to use BTC to use Bitcoin core went so high and so far through the roof that I couldn’t really start using it anymore. I couldn’t keep using it. I started use PayPal instead just because the fees were too high. then I noticed that and this is what really bothered me is that the transfer time to buy sell or trade and transfer a Bitcoin from one wallet to another wallet or from one exchange to another exchange it became so long that it was just not feasible to trade, to day trade cryptocurrency using Bitcoin. I couldn’t even move the currency from one exchange to another. And it became virtually unusable which is why today I don’t really use Bitcoin, Bitcoin core that is BTC because it’s not usable. I can’t even transfer from one wallet to another wallet without it taking hours right. And in the past it’s taken even over a day. And Bitcoin cash I’ve been using and working with and actually using for transactions lately and yesterday I literally use Bitcoin cash and it took me like three to five seconds literally to transfer Bitcoin cash from one wall to another. It was literally like sending an email and that is what I originally thought Bitcoin was. And that is what Bitcoin cash is today. And that’s why I’m using Bitcoin cash that’s why I’m bullish on Bitcoin cash because I actually use it I can use it to make transactions, to buy and sell things. I can have people pay me in Bitcoin cash and have it not take you know several hours and at high fees to actually do it. And I know lightning and segregated witness are supposed to fix that maybe they will. I hope they do and more power to them, but right now the way I’m seeing it is Bitcoin cash is much more decentralized and distribute and fast and lower fees and easier to use than Bitcoin core ever was and I wrote at my post here; now combining Bitcoin cash with open Bazaar, the money button, decentralized exchanges, atomic swaps and decentralized internet now this is something that will completely change the world. It will change society, it will disrupt society, and it will eradicate central banking, governments in their current form and the monetary system as a whole. And I wrote this and I started thinking about this sounds like wow this is crazy. Like what actually is happening in society right now. And what’s happening with Bitcoin cash and open Bazaar and a money button, decentralization of exchanges it’s a mind-blowing. What’s actually happening and what’s actually going to take place in a society. I’ll give you a little teaser a little taste of it right now and I’m going to make another video that digs into it a little deeper, but Bitcoin cash is a decentralized currency that you can use to transact on a peer-to-peer basis. So, individual to individual can transact without a third party, without any type of third party institution, exchange, government anything like that you can make transactions right and those are recorded over time on the Bitcoin cash ledger or Blockchain which is basically an open ledger system that keeps track of your debits and credits as you make different transactions right. Oh it’s so much more than that, but that’s kind of the basics of what it is okay.

07:57 – OPEN BAZAAR

Open Bazaar; open Bazaar is a peer-to-peer e-commerce platform that has no centralized authority behind it. what that means is that people can set up a e-commerce store that cannot be shut down, that cannot be stopped, that cannot be stopped by the government or by banks or by at the SEC or by anybody. So, you could literally go on open Bazaar and sell anything you want, buy and sell anything you want. Now cryptocurrencies are starting to be sold on the open Bazaar marketplaces and there’s literally no stopping them right. so, how is the government, how are the banks, how is the SEC or anybody else going to stop the millions of e-commerce stores that are going to pop up from open Bazaar using cryptocurrency to transact right. And selling, buying and selling and trading cryptocurrency on those marketplaces themselves. How are they going to be stopped right? They’re based on a tour tech. just like BitTorrent, just like tour and tour networks. If you don’t know what that is go search for a tour and you’ll find out very quickly what they are. They cannot be stopped guys they’re decentralized on hundreds or millions of servers around the world and they can’t be stopped if one computer shut down, another one is there to take its place. Open Bazaar is working that ready right.

09:08 – THE MONEY BUTTON

The money button; now the money button is a button that you can use to literally put on any website that will accept an embed code. if you know anything about that, and you can literally pay somebody in Bitcoin cash like that like within seconds right and I’ll show you this on another video, but I just want to kind of illustrate what’s happening here.

09:27 – DECENTRALIZED EXCHANGES

Then you have decentralized exchanges right. Decentralized exchanges will make it possible…decentralized exchange and atomic swaps will make it possible so that you do not ever need to rely on Binance again in the future. You do not ever need to rely on a Coinbase or a Gemini or a there’s tons of exchanges out there and you’ll never need to rely on those again because you will not need them. They will be a thing of the past. You’re going to be able to transact and trade cryptocurrency between people one to one on one to one level. Any cryptocurrency you want, any pairing you want. Because of atomic swaps and decentralized exchanges. When that happens anybody is going to be able to transact any type of merchandise, any type of service using any type of cryptocurrency in the world like that. When that happens, the control of the government is going to go away. The control of the bank is going to go away.

10:21 – DECENTRALIZED INTERNET

Now the next thing is decentralized internet. When decentralized internet comes into the picture, it’s never going to be able to be stopped right. I mean you can’t shut down these distributed networks unless you shut down the internet. The internet if it’s decentralized you can’t shut down the internet. The internet right now is not decentralized; it’s really centralized because of ISPs Internet service providers like Comcast, like AT&T; and like other service providers right. They are central hubs that control the internet. They determine who gets the internet, how fast the Internet is for that person, what websites that they can be seen by that internet. Look at China they’re doing this now; they’re blocking websites. They’re blocking Twitter, they’re blocking so the citizens can’t see it when decentralized internet takes full hold that will not be possible anymore. Everything is going to be democratized because of this technology. This is going to change the world. What cryptocurrency is at the forefront of this? It’s Bitcoin cash. I mean there are others, but Bitcoin cash is aiming to become a merchant and vendor-specific cryptocurrency to enable transactions these other items open Bazaar, the money button, decentralized exchanges, atomic swaps. They’re just going to facilitate and govern the rules behind how these transactions and how this technology is going to operate. This is the framework being set up before our eyes of how this stuff is going to operate in the next 5 years or even less 5-10 years. Things are going to be dramatically different. I want you to know this because this is very important and it’s going to affect the monetary system as a whole. That’s why I’m telling you guys. This I’m not a Bitcoin cash loyalist, I’m not a Bitcoin core loyalist. I go where the money is. I go where the money is going. look at Bitcoin cash you’d have Jihan whoo. He’s the most powerful you know one of the most powerful people in cryptocurrency today is Jihan whoo. He operates bit mint the largest Bitcoin and cryptocurrency mining operation in the world. The guy is very powerful. The guy is bullish on Bitcoin cash. He’s going the direction of Bitcoin cash that’s what he’s going for. John MacAfee another power player in crypto. One of the probably the most influential person in cryptocurrency is John McAfee; the founder of McAfee security cybersecurity company right. He is bullish on Bitcoin cash he’s the one talking about Bitcoin cash and he’s helping enable this movement that I’m talking about right now right. He is behind this. Roger Ver, a lot of people hate Roger Ver but guess what? He is one of the original investors and founders and an evangelist of Bitcoin in general. He’s now against Bitcoin core and all in on Bitcoin cash. Why? Because of what it’s going to do. I can go on and on and on and on. The point is that the world is going to change. It’s very, very soon going to change and I want you to know that this post will be lost in the dust when this happens. But know that crypto Camacho told you and warned you that this stuff was coming. To prepare you, to get ready, to put your money where you need to get ready for this stuff is happening, things are changing. Things are going to change dramatically and I’m going to show you in more videos how this is actually going to happen. I’m Dan from cryptoCamacho.com and one last question for you guys. If Roger Ver was a Kardashian, which one would he be right? If Bitcoin was Kim and Bitcoin Cash was Chloe, who would Roger Ver be? That’s the riddle of the day and tells me what you think that’s the riddle of the day guys. I’m Dan from cryptocamacho.com hope you enjoyed this? And tune in for tomorrow more updates on this. Bye guys.