 Today's episode of the Bitcoin show is brought to you by Mezzy Grill, mezegrill.com, and MtGox, mtgox.com, and BitPay, B-I-T dash P-A-Y dot com. We're in and welcome to the Bitcoin show. This is episode 35 and I'm Bruce Wagner and Joining us today, right here live in the studio, is Andrew Lee, who, welcome! And Andrew is the co-founder of MtGox Live. So Welcome, you're right here local to New York, right? Yes, just recently. Recently? Where are you from before that? Well, I lived in Connecticut for about one year and before that I was in Philadelphia. Well, everybody knows what MtGox is, but what the heck is MtGox Live? MtGox Live is a it's a trading depth chart basically that allows you to see the price resistances, the open orders and the buying sells, lets you see trade history, up-to-date live trade data. It basically keeps you updated on what's happening in the Bitcoin economy. So check out my screen and you can see I'm on MtGox Live right now and when I go to MtGox Live right now, that's what it looks like. Nope, you're not seeing it. Oh well. Anyway, trust me, it's like a big V and it shows you the spread. It shows you the basically that it's the order book, real-time. That's why it's called live. Okay, so you see on the one side the the order book orders on the other side that the I guess the asks and the buys, right? Yes, the the buys, the bids are on the left and the asks are on the right. What's this green squiggly thing down the middle? That's the actual trades that occurred and if you hover your mouse over each like the green line, you can see, you know, the time that it was traded and oh the actual trades. Yeah, there's also a thickness on that line as well. So it shows you the volume of the trades that occurred at that time as well. Wow, this is cool. And so we announced and we all know probably by now that MtGox acquired MtGox live, right? So is that the secret you just create a website and a cool really cool tool and call it MtGox and they're just gonna buy you? Was that your plan from the beginning? I'm not sure actually, you know, it's all it's all luck, I guess. Yeah, it's more than luck. You have to come up with something really really valuable, which you obviously have and the guys at MtGox must have been really impressed. What was your first contact like when Mark called you up and said, hey, I like what you did? We actually were talking for quite a long time, so I can't even really remember how it first started. Okay, cool, cool. Probably email. He's always into email. That's very cool. Okay, so so MtGox live is a website. Now Mount and you're you're a co-founder, so you had a partner in this startup, right? Yes, yes, and and but MtGox live then became MtGox live app. Yes, right for Android. Yeah, so so what happened was basically Somewhere around May 26th Steve de Prospero, who's also many people know as coder He wrote MtGox live the website and he showed it to me and we put it on one of our servers and we thought wow This is amazing. We need to keep making more services to help Bitcoin go up. Mm-hmm. Mm-hmm. Yeah, that is slick So he developed the website and so you develop the app then? Yes. Oh, okay. So you develop that very cool I want to see if you can bring it up here at MtGox live comm slash mobile so that MtGox live comm slash mobile It is the actual page for the MtGox live mobile So now you were just telling me a minute ago. That's how I know MtGox live app has now been renamed just MtGox mobile Exactly. Okay. Cool. So that's that's good because I can't remember MtGox mobile I can remember And it's it looks really slick the you can actually just download it here now It's it requires Android or iOS. Yes, the iOS there's a lot of I guess A desire for it, but right now we're still doing testing it works on jailbroken iOS devices Which are version 4.0 1 but not with the most recent 4.3 point 3 or up So on the iPhone and stuff all the I thing is you have to have iOS 4.0 1 and it has to be jailbroken exactly So it's a little qualifiers there, but Android can just be 2.1 or better Well, there is I'd like to mention so nobody's startled There is an issue with Android 2.1 and their route their trusted route SSL certificates So there's actually a problem with 2.1. So in hindsight actually we should limit it to 2.2 plus Yeah, 2.2 plus. Okay, there's a typo mark that up. All right, but Basically a new Android phone. So that's really slick now You're also in but now BTC that to tell us about that. Okay, so when we had our Mobile application and we thought okay, so you want to send bitcoins to a Bitcoin address? And then we were about to do that and it's so many characters that you have to enter Especially on a mobile phone and it's a nightmare. So we thought okay We need a Bitcoin address shortener and so that's where BTC that to remember I don't know. I might have told this story before but I remember That one of the very first Bitcoin transactions I ever did some guy I had I had put some US dollars into Mt. Gox and Some guy, you know emailed me whatever and he wanted to meet you wanted to you wanted to buy some bitcoins So we met at the coffee shop or whatever and he's like he hands me this little like it was literally like a piece of paper like Like this just torn off like that right and he hands it to me and he goes like that And I'm like, what's this like what is your business card? Like what is this and it was his Bitcoin address printed out like an 8-point font I'm like, what do you want me to do with this? What do you want me to do? We just like read it type it in. Oh my gosh. It was so funny and we both started laughing. I'm like, don't you have email? But yes, all right, so I've often wondered about that The idea of a shortener is really smart. You can go take bring that up at BTC dot TO you over here and Basically, it just looks like a It's just a shortener like any other shortener, right? Yes, the thing is it has to be trusted, right? Because so because I thought of this many times I'm going you got to trust this shortener I mean definitely I can create my own shortener and make them all go to me, right? So but this has got the the and now now that you have been Consumed bought up by Mt. Gox So this is backed by the full faith and confidence of the United States government I mean Mt. Gox, right? So it's trusted because you guys host this and Can this site be hacked? I'm not gonna say that there exists any site that cannot be hacked right answer. That was a test That's very smart, but we will hope it doesn't yeah, definitely. Okay. It's very secure Is it hosted at the same place the word Mt. Gox site? It's no it's on a different server Okay, yeah for for Mt. Gox safety reasons, of course. Yeah. Yeah, but I guess in a sense The good thing is like one transaction and you would know because it wouldn't go to the right place Yeah, so you can actually put in your whole Bitcoin address here, and they just click go And it's gonna give you a little URL a BTC dot to your URL. Yeah, actually I actually paste. Yeah, you could paste maybe this one to address here and see what how it reacts. Okay, let me see I'm doing it on my notebook, but Pacey it yeah, okay, so I did on my notebook We can see right now because anyway, but I get hdb calling slash Slash btc.to slash one. Oh, that's the one. Okay. Yeah. Wow. That's I'm the first person to use it That's cool. So what do you know? What do you normally end up with like a like a three digits or six digits or um, there you go Yeah, it really depends on how many Addresses are in the database. So it'll eventually keep getting longer. It's um each I guess you call it slot or character position is In base 36 so Any character is allowed basically anything from a disease zero to nine? Okay, I noticed I put in a I just changed the last letter And it won't take it because it's obviously not a valid one. So that's good You can't accidentally put a bad one in that's really clever then So like what's it up to like now? Is it like 600 or not sure so it'll be probably roughly four digits or five digits or something Yeah, we'll be very clever. We'll actually be releasing the database so everybody can always check it every day Multiple times a day. Can I get a vanity URL? I want I want btc.to slash Bruce That may be something that'll come in the future price salad, right? You never know. All right, that's really slick, too So and it's good to know that it's backed by you guys It's not just some random stranger who created this thing because I there's a lot of that going on so All right, so back to the other thing. I want to see this the Mt. Gox mobile it's moutgox live comm slash mobile is the website and the app is called moutgox mobile and I mean, I knew we actually you had called me like a while back This is before Mt. Gox acquired, right? Yeah, and we and we wanted to talk about it and all that. It was very interested But now, you know, I'm more interested than ever because I'm learning more about all this stuff And especially especially exciting is the voucher thing, which is just kind of like this this new System that Mt. Gox set up and just like quietly just released it like there it is, you know I don't know. I mean, maybe they wanted to like have the users Usership like grow gradually and make sure it worked really well before they like did this mass announcement But I was like wait what what it does what? Oh my god. This is really really cool So all right, so let's talk about the app And I'll let you do some talking to I will let you get a word in the The app so primarily for Android anybody that has an Android phone a new phone 2.2 or better for sure can just go to the the standard Android market Mm-hmm. Definitely and it's called Mt. Gox mobile. They just do a search for Mt. Gox mobile. How many stars does it have? Right now it has four stars at like I was saying before there were some issues with 2.1 and SSL Certificates, so there's a bunch of comments like oh, it's not working on my 2.1 my 2.1 There's always some haters always some haters, but you fix that out there fix that and yeah, definitely So all right, that's cool. Now the thing that is really interesting to me is that you What do you call it? You join it or link it somehow to your Mt. Gox account? Oh, yeah So um what happens is when you first download the application you cannot log in with your username and password for safety reasons Yeah, instead what you have to do is actually have the website open on your phone I mean on your computer which means you may even need to use your ube key to log in as well And what you do is you take the phone and right here you can see it says activation key you pair it up with the Account and then that's how it gains access. You can revoke these this access at any time, too Okay, so I'm not quite clear when about one thing so like why why couldn't I just I mean why would it be bad if I Launched the app that I just log in with my user ID and password like I could do that from the web browser on the phone Yeah, so so what happens is well, there's so many scenarios I guess but some that come to the top of my mind for one is after After people learn how to have more secure and stronger passwords these passwords became incredibly long. Yeah, so yeah, exactly So that was use a Bitcoin address as your password. No, maybe But yeah, so so for one it makes logging in easier But at the same time security is of utmost importance. So we're implementing security features with this pairing that should be You know industry standards. Yeah, so that's the bottom line is it's more secure because if you just log in with your ID and Pat or your login and password on the browser Then you're gonna have the full access to it and you can't if you have it secured with a ube key Which we recommend and of course Then of course you can't do that from any any by the way That's another kind of a side issue But if I have my amount of accounts secured with a ube key and an Android phone There is a USB kind of a connector. Is it possible somehow that that you could The device could read the ube key on an Android phone I'm not quite sure if that's possible now, but I'd imagine that There's nothing that's impossible in the world after all right I think that would be a really good idea if there's some maybe some manufacturer will make a USB interface for Android and then It could become compatible and just be seen it sees it as a keyboard, right? So maybe there's some app situation for Android where you could you could actually see it as a USB keyboard And if that were the case then maybe you could actually use a ube key on an Android phone That'd be really cool, but anyway in the meantime the this app gives you Almost as good of security because you have to pair it with the with the client right so So let's see that what the app looks like when you when you bring it up now Is this on an iPhone the the first slide there Ed? Where where you see the actual? Oh, that's the website. Let's go to the first slide actually The first slide the image of the icons on the on the actual phone. There we go so right there in the center you see the Launch I is that an iPhone? That's an Android, of course. Oh, yes. So that's um, that's the MI UI It's a it's a custom Android ROM you can get it at MI UI dot US Oh, okay So that's okay, but they then the mouthbox live or actually it's called my cox mobile app is the icon the launch icons right there Okay, next We'll go through this quick slide show so this these three images represent what okay? So the first screen represents the first screen that you would see when you actually download and open the application the second one is the result after you've either a entered the the pairing key or be Scanded with the QR code reader and then the third screen is where you'd enter a pin number So that it can actually encrypt using AES encryption the secret key so that you know No one can steal the secret key for it from you Okay, so let me translate a little bit down and technical so I think what you're saying is that You launch the app and you have to have it also mountbox.com open on your computer You log in to your to your account on the computer and then you launch the app and then it asks you Oh, then you have to activate the app from your account on the computer Mm-hmm, and then it gives you a pairing key Which is like a barcode. Yeah, you'll either have a QR code or you could enter it manually if you wish okay, and then When the app asks for this pairing key, then does it turn on the scanner and it'll actually let me scan it from the screen and exactly Oh, that's nice. Okay. I'm good. I don't have to type it in All right, so you're gonna scan that that pairing key code and it will actually connect And then what's the other what are the what is the other thing that we had asked you? Oh, yeah, so then the three yeah, so then the secret key it that thing needs to be stored on the phone There's no way to go around unless you want to repair every single time But you don't want to leave the secret key just in plain text honorable, right? Yeah, so that's why we use on an industry standard encryption algorithm So it's stored encrypted on the phone exactly is it I mean is it unencrypted for long enough that the virus could could grab it I don't think so, but like I said before There's always possibilities as we continue with this technology and it gets better and better and better Yeah, for sure. Okay. All right, cool. So Then the next what's the next slide there? This represents What? The the login this is what happens after you pair it Is that turn the screen this way so we can see it. Okay, so that screen on the left is the screen basically where you'd enter your pin if you'd like to log in and On the bottom right corner of that screen it says change profile So in other words what that implies is that this application actually compare with multiple accounts on multiple Mt. Gox accounts in case You need to I guess check multiple so you could have like a his and a hers You know, whatever husband and wife both have two different accounts They keep their money separate and then one app could actually connect to either or Or you can have one that's for Pocket money and one that's for more checking account level balances and have even different permissions Exactly like like you could have one that's for pocket money that is able to spend and receive and all that and Make trades or whatever But then the like a one that has a larger balance like a checking balance that only allows deposits or something like that Okay, that's cool. So then even if it even if a virus somehow hacked into this thing It would still be limited to your your pocket money account and the other one. It could only make deposits. That's cool Very cool. All right next What's the next slide there? Okay Okay, so on this screen. We're actually showing an example of what the app would look like based on the rights You have set to Mt. Gox so For for example on on the left, you'd see all the rights are enabled so every single option within the application is available Mm-hmm, and on the and on the right you only have deposit available So all you can do is redeem the QR codes or voucher codes So there's no two different accounts and how the permissions could be different exactly what we were just saying So on the right, they the only thing they can do on that account is make deposits Exactly on the one on the left you can get info like what balances and transaction history things like that Yeah, everything trade buying selling sending deposit deposits and withdrawals and all that So one could be pocket money that what you would normally carry around town in your pocket And the other one could be a larger amount and only allowed to make deposits. That's cool That's a nice level of security. What's the next? Okay, this one is what? Normal the login screen exactly so after you're paired. That's just the login screen you'd get right exactly, okay? And What's this and then now we have the home screen which shows the open buy and sell orders as well as ticker data and your account balance So, okay, so you see the last high low all that what's BW AP? BW AP all the six exactly averaged Purchase price and then you got this okay, so sell one Bitcoin for a thousand dollars So that's your open buy on and sell orders would be just listed right there. Exactly. Okay, cool And what's this? This is the uh, I believe that's the ice cream. Yeah buy bitcoins Yeah, not to buy pretty self-explanatory. Oh, that's like so you just buy it right there In case you're at Missy Grill and all you have is cash and you need Bitcoin exactly, okay? and The next one and then the cell screen is pretty self-explanatory as well same idea are there any limits on this I mean like minimum or maximums that you could do from the app So as of right now, there are no limits, but that may change in the future. Okay Cool. What's next? Okay, so this is the send screen and what you can do from here is either a choose to send to a Bitcoin address Be you can send to a BTC dot to address or see you can actually scan a Bitcoin QR code Which follows the same standard that all the other Android applications use as well for the Bitcoin QR codes So they can have you know the amount encoded in it as well Okay, so if you scan it it could just be just a Bitcoin address or it could be HTTP or no Bitcoin colon address This is a scanner. Is this integrated to a scanner app? Yes, it's using the barcode scanner that actually you recommended quite a lot back Oh, okay. Wow. I have a little piece in this And then you can also put in a BT CTO So if I have BT CTO and I just type in one then it's gonna go to that address that we did earlier Mm-hmm, exactly just one by itself. Wow. That's amazing now You can only send it to a Bitcoin address though right not to another account holder. No, okay Not this way. Okay, cool. So what's next? Okay, so this is what I believe that it's very interesting It's the voucher system and what it allows you to do is create redeemable voucher codes in the currency which you choose whether that's in bitcoins or in US dollars and Subsequently when you have these voucher codes, which exists as either a code like MTG OX dash BT C dash a bunch of random You know letters and numbers or it could be a QR code And so when it's a QR code, you can actually use the redeem function Scan the QR code and instantly you've redeemed the amount of that voucher into your account Okay, yeah, this is where it gets interesting because when I learned about this I was like really excited This is so so cool because you can so you can basically Create your own almost like a like a Almost like a gift certificate or a check or something Yeah, and you can you could do it in denominated in US dollars or Bitcoin either one and you put in the value Like 100 and then you pick whether it's $100 or 100 Bitcoin And then you click create voucher and when you've created a voucher You're gonna get a QR code and then and also another like a textual version of it. Exactly. Okay now with What what can what things are methods are built into this thing to share it like you can use the Android like menu share and Email that code and oh so as of right now, we don't have anything Available to allow you to share aside from either, you know being face-to-face with each other obviously or or you could I guess send the QR or not the QR the voucher code, but I mean unless you're using some kind of You know encryption on your email. I wouldn't because it's you know, right? It has its own value. It has value. Exactly. It's almost like Yeah, it's almost like a credit card number or something but it has actual value So anybody who has gets a hold of that code can resume it. Yeah as actually as a kind of a tease Oh, how back mark had put a a real live cute voucher code. Yeah on on his Twitter Oh So I mean first one to grab it. Yeah, that's interesting. How much how many bitcoins was that worth? I think it was just one Oh, it's like worth good four dollars. No Wow, that's cool. So in practical use I mean if we're at lunch and I owe you 20 bucks I can put in $20 boom voucher and then you can just say I can't be and I just sent you 20 bucks Wow or This is like a whole new currency It's like it's like we call it talk about Mt. Gox USD. Exactly. There's USD and then there's Mt. Gox USD And so literally we can send each other dollars and if I send you a hundred dollars It's always gonna be a hundred dollars and it's regardless of currency fluctuations, right? Or I can say 20 Bitcoin beep and you just receive it immediately and it goes from my Mt. Gox account to your Mt. Gox account of course you have to have a Mt. Gox account obviously to have this app and All right, so You don't recommend emailing these I mean like I said everybody has their own security set up And so they know what they're dealing with but if you if you're not, you know Comfortable or confident that your email is not going to be eavesdropped or what not? I suppose if it's sort of a trivial amount that it doesn't matter Yeah, and in the actual textual version. Is it a URL that they could actually click to redeem? Or it's just a number that they have to go into their account and say redeem voucher and paste it in the box Yeah, it's kind of like People who are familiar with like World of Warcraft they have game time cards, right that are specific codes It's kind of like that. Okay. Yeah, so to like if so somebody Sent me this in an email. I would I it's not just something I click I actually have to go to my Mt. Gox account and say redeem voucher and paste in the number exactly, okay, cool Well, we're like there's so much to talk about we're just getting started But we got to take a break really quick because we got to thank our sponsors, and you know who they are The the same sponsors that we've had since the beginning messy grill M E Z e grill comm messy grill obviously is the world's first brick-and-mortar restaurant They're with to our knowledge that accepts Bitcoin and not only do they accept Bitcoin But they now buy and sell Bitcoin for cash anytime you're in New York City But that's not the only reason to go there. They have Mediterranean food that is absolutely delicious and healthy. It's one of our nice favorite restaurants. We've been going there ever since we moved to the neighborhood and That's how we met Marwan the owner and became friends and talked about Bitcoin and the rest is history now He's Bitcoin famous and but the food is absolutely delicious, and it's even dr. Frugal approved It's in the sense that it's so affordable. It's hard to find an affordable place to eat if you're in Manhattan But it's really really Delicious healthy and affordable. It's like three blocks south of Columbus Circle So if you're ever in New York City if you live here, or you know Who doesn't either live here or travel through New York sooner or later? Do not leave the city without trying messy grill. They're open for breakfast lunch and dinner and They're just awesome ask for Marwan. Thank him for supporting Bitcoin and and you know, yes, he did have Bitcoin Mezzy grills Bitcoin was in my Bitcoin comm and yes, they did lose it fortunately He had you know cleared it out, and there wasn't that much there, but It's because you know I set him up with it So of course all my friends and family who almost all of my friends and family were affected But that has not dissuaded His enthusiasm for Bitcoin, he's smart He knows that that has nothing to do with Bitcoin itself, and so he's more of an evangelist for Bitcoin than ever Very excited and very supportive, and he supports the Bitcoin show and only one TV So be sure and you know email him call him and go in and visit them and ask for Marwan and thank him for his support of the Bitcoin show bringing us to you every day and Who else mount gox? You've heard of them, right? mtgox.com The number one exchange site the number one way to buy and sell bitcoins online They they have obviously the vast majority of market share They're the oldest exchange site to my knowledge that exists online, and They are extremely resilient. They have been hacked. It's not news We all know about that, but they know no account holder lost any Bitcoin In this except for mount gox themselves lost a small amount which they they covered of course But that's the good news. Nobody lost any money in mount and mount gox is back more secure than ever and Resilient they're in it for the long run. They're trusted and they're profitable I mean that's a man. That's a huge thing the fact that they're profitable means that they have no incentive to run away They're here for the long haul So we thank them for supporting only one TV in the Bitcoin show and obviously our guest today is from mount gox and Bit pay they call it bit pay. I call it BIT dash PAY dot-com bit pay is the new way to automate your Shopping cart So that no matter what kind of website you have whether you have nothing, but just like a little blog or absolutely any kind of Website they have their own shopping cart built in and If you're more sophisticated and you already have a shopping cart on your site There's integrates totally right into yours and what it is It's kind of like I think of it like as a PayPal checkout or a Google checkout for Bitcoin So it's a it's a shopping cart or shopping cart integration either one that you have two options when you set up an account It's so easy. I did it on the air one of the episodes that even I could do it like in two seconds It's unbelievably easy. It's just a little widget you paste in and boom you have a shopping cart and It the shopping cart accepts only Bitcoin So if you have to use it, you know, you have a different button if you want to use PayPal or something else That's that's that business, but if you want Bitcoin There's a button that says pay with Bitcoin and it takes you specifically to a Bitcoin shopping cart They can check out by sending Bitcoin to you and it's brilliant. It's brilliant. It's so so simple so we think bit pay bit-pay.com is their site and Allison is the lovely lady in the picture there. She's in the demo video if you go to bit pay Bit-pay.com you'll see Allison and she's gonna be here actually And so you'll be able to ask her all kinds of questions she's gonna be here for the Bitcoin conference a Little plug for that the Bitcoin conference is coming up really really soon August 19th to 21st But Allison will be here. You'll meet this lovely lady who will tell you all about bit pay and so she's the Spokesperson for a bit pay. So again, we thank them and bit pay of course is the official shopping cart For the Bitcoin conference speaking of the Bitcoin conference before we get back to this like I said, it's coming up really fast and I know that I know how many people have registered and I know how many tables we've sold But I also know that like at least 60 people have told me that they are definitely coming and Have not registered yet because you know why Bitcoin people are busy I mean some of the people who are in the middle of this Bitcoin world are The busiest people I know and they don't even know what's going on in the Bitcoin world because they're so into it It's like doctors who have no time to read medical journals. They're just so busy practicing medicine Bitcoin people are like that. So they're very very very busy and they haven't had time to register for the conference But make time. It's really really quick. Just go to Bitcoin conference calm And actually I think you have to do it all lowercase Bitcoin conference calm to To get to the website and then click register now and literally you're gonna see the little button It's actually behind under the hood. It's bit dash pay calm but you check out you can buy an admission or however many admission tickets you want and It's it's valued actually we had to change it to value it in US dollars Because the value of Bitcoin was plummeting at the moment But we made it 26 US dollars value worth of Bitcoin for admission per person Which you know, that's like that's you know, less than it cost to go to the movies or have a cheeseburger in Manhattan And 130 US dollars for a vendor table. We have now because I know how many people are coming I mean, I am getting calls constantly and literally people are flying here from Central South America Australia Africa England Europe all over the United States Canada Everywhere people are coming from all over the globe for this thing. It's gonna be a massive event and I know how many people have said for sure they're gonna be here and one group is actually Turtering a private jet. I won't say who but it's gonna be interesting. So the What we had to do is we figured out that there's no way we could possibly host it at the studio We're gonna do some pre-conference fun and festivities here in town before it starts like on Thursday the 18th And then Friday it'll start officially and that'll be here at the only one TV studios And we'll actually tape a show and we'll do tours of the studio and all that and then we'll do Like an after thing at Hudson eatery, which is the second restaurant in Manhattan Except Bitcoin and we'll do like it like an icebreaker social thing whatever name. Hello My name is whatever it'll be fun. And then, you know, people will probably get boozy and tell you all kinds of secrets It'll be fun. And then and the biggest names in Bitcoin and I mean some serious Technocrats from all over the world or are like, you know, we want to bring this to our economy of our country I mean you're gonna if you're gonna it's gonna blow your mind who's gonna be here. So Don't miss this. Don't miss it. Okay, then Saturday is the big day. We've got some amazing keynote speakers. I'm just gonna say I mean Gavin Andreson for sure and Stefan Thomas for sure. We've got several others that aren't absolutely confirmed yet But they will be soon and so I'm updating the schedule probably later today But Gavin Andreson and Stefan Thomas for sure and some several others But we have so many people that are coming I know for sure that we decided we have to have a real a much larger venue So we've moved you'll see on the schedule We've moved the venue for the Saturday thing to the Roosevelt Hotel the Vanderbilt Hall and it's gonna be massive that the the actual What do you call it Audi like auditorium? What do you call it like theater seating? We'll see 200 people and we'll have like 12 6-foot tape vendor tables like it's gonna be really spacious people are gonna be very very happy Whether they bought a table. They're gonna definitely get their money's worth I was worried about it here in the studio like it's Manhattan. We have very we have limited space but there it's gonna be really really nice first-class and Seating it's gonna be awesome and actually they have really reasonable room rates We didn't negotiate a deal because they want me to guarantee the you know I was like nah But actually Ed dr. Frugl found out that he can get you can I think you can get rooms there over this period for like 220 something like that so it's actually very very affordable. You can stay at the same hotel where we'll be so that's gonna be really fun and then Sunday morning will it will be here again and Of course, we'll be having breakfast. So I don't crave and you'll see on the schedule We kind of outlined that lunches at messy grill dinners and cocktails that had some eatery But it's gonna be a blast. So again, that's August 19th to 21st, which means we'll actually be Doing the pre thing on Thursday the 18th and then all the way through Friday Saturday Sunday And we even do post conference fun and festivities on Sunday afternoon Sunday evening. So it's gonna be a blast So, okay, so back to the the app Where did we leave off? Did we get through all those slides of it? Go to the next one. Let's see. What is this? But yeah, so it looks like it's still the voucher screen on there. That's the voucher screen That's the creative voucher right right, okay You got US dollars, but go to the next one and then so creating a voucher is basically just saying Anybody who gets this number this number is worth money and they can redeem it and of course My first question I already know the answer now, but my first question was whoa, what if I create a voucher and it never gets redeemed? So then it'll just remain in your history until it is redeemed So you'll see in my history. It'll show whether it was redeemed or not Um, I'm not exactly sure if it actually shows whether it was redeemed or not on the on the creator side It does definitely on the on the redeemer side. Mm-hmm. Okay. And if and if I So and if it doesn't ever get redeemed then I can just redeem it myself and it puts it right back into mine Exactly So like if I ever wanted to with this work if I just go through all the vouchers I've created and to redeem them all redeem them all it'll go failed failed failed being redeemed one Exactly. Would I do that? So I occasionally I can just redeem all of the ones I've issued If I know I don't have any outstanding and grab them all back. Yeah, okay, cool So that works and then and this okay, so this is in the app and this is a redeem voucher Okay, so again if we're at lunch And I owe you two bitcoins. I can just put in two bitcoin create voucher and you just hit Redeem voucher. Yeah, I would just basically hit that button Which is a circle for scanning the qr. Mm-hmm. I'd go up to your phone go like this I'd go beep and then it's done and it's in your and it's immediately in your mailbox account. Mm-hmm. Cool. This is so cool. All right What's the next one? Okay, so this is the depth table which is exactly the same market depth that you see on the website But obviously some of the records were truncated so that Since it's a mobile app and you probably don't need to see the bottom and most top orders Oh, so this is just the middle exactly Okay, truncated at the top of the bottom, but it shows you the spread and the the highest bids and the lowest Asks No, the yeah, that's right. The highest bids and the lowest asked exactly. Yeah, okay Cool, and then all right. I see I see okay And then um and finally that's the uh where this all came from mount gox live It's an actual view of mount gox live on your phone So you can always no matter where you are stay up to date with everything that's happening And again these are this is just a kind of like a market depth table Which shows the the bids on the left and the asks on the right exactly bids on the left Ask on the right and there's if there's a gap in the middle. That's the spread, right? How come it doesn't show the green squiggly thing in the middle the actual trades? Um Does it it should i'm not sure if it's uh visible maybe on the screen or in that screenshot But it does it does show you okay, definitely in the in the squiggly green thing again That's the actual trades that did happen exactly. Okay That's it. Okay. That's all the images. All right, and then yeah good. Yeah, there we go That's the actual mount gox mt gox live.com website. Yes, so that's what it would look like Okay, so that's what it looks like on the website, which you can go there And that's actually like what is that like ajax or something? It's running continuously, right? Oh, yeah, so um coder had built this on the New web socket protocol, which I mean people can read about that on wikipedia if they'd like to know more but What happened was it was um Supported on google chrome. It also works on firefox, but it's not enabled by default So what happened was you know that we'd have people come in occasionally and say hey, it's not working on my web browser So what he did then was he added ajax support as well So what support ajax actually i'm not sure how to pronounce it correctly. Yeah ajax ajax Oh, okay. Okay. Okay. So um, so now it works across pretty much any modern browser whether you have web socket support or not Cool. Cool. Cool. That is very slick Yeah, is that gonna? I mean, oh, yeah, that is I was just gonna ask you and I already know I was gonna say is that gonna be integrated into mount gox website and then I wait a minute It is because I went there and I collect it and I was like, oh It takes you there now. How long has that been integrated there? Um, I believe it's been there for at least a week Oh, okay. Oh, how did I I just noticed a whole week went by that's like a year and in and in bitcoin time, right? All right, so what what's on the roadmap for this? Mount gox mobile. What's the future hold? I mean you already solved every problem pretty much that there is Yeah, I mean what's left. I mean there will always be No, actually no, there's not going to be any new crazy problems But like like we all know, you know, we always have to adapt to the environment in the situation Um, but as of right now what we want to do is focus on having more users Actually understand and use the application to its fullest potential so that Educating the users exactly so so we can actually make bitcoins really spread out and you know be adopted into the real world Speaking of that, I'm glad you brought that up because one of the things that occurred to me Is this voucher system like literally Can I can I create? No, I'm trying to say if I've never heard of bitcoin and never heard of mount gox Can I install the app on my android phone and create an a new account with the app or no? Oh, no, you'd still have to have a Website or a computer to access the website in order to pair the account So it has to be created first on the laptop or computer Can I trick it? Can I can I use my browser on my phone to create a mount gox account? And then pair it to my app on my phone. Well, yeah, you could definitely do that Okay, because it's the same thing, right? So I think I like if I'm okay. I met Cindy Lou She's never heard of any of this. We're having lunch and all bitcoin bitcoin bitcoin, right? And then she goes, oh, okay. I want to do some bitcoin So I say, okay, take out your android phone and she goes to mtgox.com click sign up She puts in her name and her password. Hopefully secure. Well teacher about long secure passwords That'll be a whole nother lunch and then Um email right and then boom you have an account Exactly. So now she can install the app and she could actually pair it by going back and forth between the browser and the app Yeah, okay. I mean, it's a little more difficult. You know, you'd have to rely on copy paste, but yeah You can do that. Andra is pretty easy. Just hold down the home screen people You hold down the home not the home screen the home key. Have you know that? I don't know. You didn't know that Oh, you hold down the home key and it shows you every app that's running So I can bounce back and forth between my my app and my browser anytime I want. Anyway So she does that and Pairs it up sets it up now. That's it. That's all she needs, right? Because then I can create a voucher and she can get she says I want to buy 20 20 bucks worth of bitcoin because it went from five dollars the other day Now it's 10 and it's on its way up back up. So up up up, right? So, uh, she goes here's 20 bucks. I want to get some bitcoins. So she gives me 20 bucks I say, okay, here's a 20 dollar voucher And this is also brilliant because I can do it without I don't have to buy the bitcoins for her Exactly. We don't have to negotiate the price or anything. It's like you buy it whenever you want to buy it You think it'll go down by tomorrow wait, you know, whatever So I can actually say 20 us dollars boom voucher create voucher And then I get a qr code and she just does receive voucher and she scans it and it goes beep And now she's got 20 us dollars in her mount gox account. That means everybody is a trader Everybody is a trader. You don't need to go to a website to find the nearest trader because like Everybody's a trader. Oh my god. This is this changes everything. So That's what we're talking about, you know, like I've been saying that the biggest issues Obviously with bitcoin number one security And we're addressing that with the ube key ube key is like phenomenal and You know and this syncing it to the app with certain specific rights only Addresses security and the second is liquidity liquidity. This this really really helps because Every little kid in junior high can be a bitcoin dealer I mean they can all be selling bitcoins to each other and and showing their parents look I made 700 interest on my investment in six weeks, you know, and the dad's like, what? Let me see that little game you're playing and and then Uh, what's the third one? Oh, I always forget one of them It's uh, I always say the big biggest challenges are security liquidity and I forgot the third one But anyway, you guys don't remind me So Where were we? Okay, so now she's got bitcoins in her account and she can buy them whatever and she can actually buy them from her phone Exactly. Wow. That's really slick. That's like, but yeah, the users are going to have to be educated in how to configure the app Because they have to when they do it they have to select What rights they're going to give themselves on the app side and then they're going to get a key Which is a long string whatever and then they have to put it into the app. So there's a couple little steps But uh, a technology, you know, friend or nephew or niece or whatever could actually set it up for For people and once it's set up, it's all they have is the app in a pin number, right? Exactly And that's it and then they're good to go and they can literally have one for checking one for one for pocket money One for checking I guess you could say levels and uh, or one for mom one for dad one for uncle whatever Oh, they could even couldn't they Like, um, if if my friend, uh, say joe, right if joe has his mount grox account on there He also has his moms on there and his sisters and his uncle lose all on his app So he can manage all of theirs Exactly and he could he could even transfer money from one to the other by creating a voucher and then redeeming it on the other one Wow, okay, so That means everybody can be a little banker for their family So the little tech geek has the app, right? He's like 12 years old and he's the bankers the the family's banker He can actually manage everybody else's bitcoin accounts On his phone if if if he wants to set it up that way if they want to agree to do that That's really really cool Very sophisticated So there so there's really I mean are there any um any ideas that you have or predictions that you have for what What's going to be in the future for these types of mobs? Well, you know, we're trying to make it easier for Merchants to be able to do business with bitcoins, you know And obviously there's many solutions that are coming up online But you know in order for bitcoins to really take hold we need to take that brick and mortar Marketplace, you know bitcoins need to get in there. Absolutely. So, you know another thing We were kind of discussing a little earlier about the rights is you know Since you can pair up and set the rights to only be deposit only right Then if you have for instance a restaurant and you have multiple employees, you don't want them to see your balance You don't want them to be able to trade your coins. You don't want them to be able to withdraw your coins, obviously But depositing yeah deposit as much as you want That's right. We talked about this before in the conference room earlier And you were explaining to me that if I have an uh, if I'm a business I'm a retail business Um, I can set up my mount gox merchant account For multiple I could have like eight different phones keyed to it and Seven of them are deposit only so every clerk who has a phone Could be set up on my account, but for deposit only exactly so they could all be walking like every waiter in a restaurant Every waiter waitress in a restaurant could just be set up Oh, I got to talk to hudson eatery about this and messy grill like literally the the servers could come to your table And and here's the bill and you say I'd like to pay with bitcoin instead of putting instead of sticking the american express in there They say I'd like to pay with bitcoin and the the server pulls out of their pocket and says okay, and then they can literally just um Redeem receive a redeem code exactly They just scan whatever you and make a deposit right into it Yeah, only with deposits though no withdrawals or transfers or buys or sells just deposits exactly But they would of course the person The customer would have to have a mount gox account Yes, the customer would have to have a mount gox account with the withdrawal right as well Right, right. Yeah, which they would for their pocket money Whatever now if they don't have a mount gox account the customer could still send it to a bitcoin address And maybe the server could verify could they see the transaction if they had rights for the information? Yeah, you'd have to have to get info right to get info right So the server would have to have the ability to make deposits and the get info if they wanted to verify Network deposits that didn't go through but obviously there's you know the six confirmations. Yeah six So does mount gox require six confirmations? That's that's what I last heard. Um, I mean don't don't quote me definitely on this Okay, well, yeah, then there's a that's that six is a long delay If that may be wrong if that sounds big to you then I'm definitely mistaken I'm not sure but it's I know that it's like, um, well, it could be but like I think it's approximately like one confirmation for 10 minutes. So six would be like an hour That would be too much probably for a restaurant But if it I mean for the time wise would be a problem But if it were, you know 20 minutes if it's a sit-down restaurant that probably could still be acceptable as long as they pay But when they order by the time they're finished that's paid Interesting interesting and I'm sure they're a point-of-sale system. I'm mark actually Mark Carpolles. Is that how you say his name? It's french He's been on our show, of course a couple times and he's been on the french language bitcoin show called le bitcoin show And which of course he speaks fluent french because he's french So he weighs a very verbose on that show and he actually held up the the box. That's point-of-sale device that is Apparently beta testing now or will be beta testing soon and stuff like that I can't wait to get my hands on that And you have any secrets about how that's going to work like is that going to work with the app? Of course it'll work with the app, right? So That'll be but that that'll somehow tie them in so that I don't know what what is it going to do Um, so I can't really get into too much detail right now. Oh, you can tell me but what I can tell anyone what I can say is that Everything's going to be changing soon Come on. You sound like me. Geez. That's what I say every day. I can't tell you but it's big big big It's going to change everything right? That's it. That's all you're going to give me Okay, I'm calling mark. All right But anyway, we're gonna have that soon. I guess we'll do a play around and beta test it Maybe I'll take it over to mesi grill and see what we can do a play around with it. That'll be cool so What the future holds so what do you see happening? Okay, so aside from all the apps and mount gox and everything out. Let's just talk about bitcoin in general Okay, what's your prediction? I ask everybody this. What's your prediction of? Like what will the future like the near term let's say six months from now and What will bitcoin and the look like in the world and say two years from now What will bitcoin look like in the world? What do you think and what will be the value of the value of bitcoin too? I can tell you that as long as we don't find any issues with the system itself And then as long as there's people like you me and everybody else who are pushing this with our strongest of efforts Then there's no way this movement is going to stop ever and so one year from now I mean, I can't even predict but things are going to be exponentially larger than they are now Well, I'm not pushing bitcoin not at all. No, no, no You must be thinking of someone else No But okay, so and yeah, I mean I I've always been a you know, everyone so it says I'm a The you know bitcoin's biggest cheerleader or whatever evangelist Then now after these recent experiences, you know, we all know I'm going to be Not only, you know, I'm going to be all about security, you know, obviously I'm going to be the biggest I'm going to be an advocate for security first bitcoin second You know because it's money It really is money and we have to protect it from all those bad guys who are stealing it Which is, you know, it's like anyway We'll talk about that's not a whole other thing But you know, it's kind of like the wild wild west days at the moment So, um, so you see do you really see it? Being oh, I knew I was gonna say With the app and point of sale being accept accepted as, um, you know and merchants Wouldn't it be more convenient for a merchant to just accept mount gox u.s. dollars because if they need $12.50 they get $12.50 and then they don't even have to deal with bitcoin at all It's almost like mount gox u.s. dollars could be an alternative currency Yeah, it um What I would say is the mount gox usd almost acts as a crutch or a You know what I mean? It almost helps stores and merchants adopt And move into bitcoins. Yeah, you know what I mean exactly It's not you're just going bitcoin only right So they can make the decision they have all the freedom in the world if they want to buy bitcoin you know as an investment or Not if they want to take all their receipts and put it into bitcoin form Hoping that it will go up in value Or if they want to you know a lot of people are thinking I mean thinking that The strategy of a big merchant accepting bitcoin and immediately selling it to put it into dollars But if you have mount gox these mobile on both ends You can actually just send us dollars to us dollars. You don't have to put it into bitcoin at all But it makes it really really convenient if you want to like if the customer has bitcoins he wants to You know, he can either send bitcoins or he can even sell some into us dollars and have some us dollars on there too The merchant can accept bitcoin Or the merchant can accept dollars And then they can the merchant connects can convert everything into bitcoins or convert all the bitcoins into dollars Or even whatever percentage they want. So they have a lot of flexibility that way Yeah, and actually, you know on this same topic. I don't know how this how I forgot this But we're actually going to be having additional currencies as well not just us dollars You mean you mean like euros and exactly on the app too. Oh, okay. Okay. Yeah There's no end of that. Okay. We're out of time. He's telling me we got two minutes Can you believe it time just flies when you're having fun? We start talking about bitcoin and it seems like 50 minutes seems like five minutes. It's crazy But um, thanks so much for joining us. Thank you for having me. Yeah, it's really appreciated and um Thanks guys for for hanging in there with us Every weekday at 2 p.m. Eastern typically is our schedule. Sometimes we Do pre-tape shows and sometimes we do bonus shows and do more than one in a day But normally 2 p.m. Eastern every day Monday through Friday the bitcoin show Thanks for joining us and 4 p.m. On wednesdays eastern time where else showed the bitcoin in espanol And we're adding seven more languages. Anyway till tomorrow. Thanks for joining us on the bitcoin show Take care