 Ivan on Tech wants you to join the crypto community. You gotta be in crypto, you gotta work in crypto. If you want to change your life, this is the best industry. While Richard Hart thinks crypto people are a bunch of c*****s. They're really f*****g terrible. They're not funny, they're not nice, they're not social. He believes in Bitcoin fundamentals. More hash rate is net-positive. More investment, more activity on the network. While he only cares about...pumpamentals. Hey, they are here to save us from crypto scams. Where are they? People that are screwed, you guys already screwed up. The people that aren't screwed yet are the people I'm trying to help. Look, everyone is a scammer nowadays. I'm called a scammer now and then. Richard's scammer. Probably you, Giovanni, are also a scammer. Welcome to another coin telegram, Crypto... What's up, YouTube? I'm Giovanni. Welcome back to our weekly crypto market show. This time with us, we have two very special guests who don't need any presentations. Ivan Anzac and Richard Hart. But before we start, don't forget to hit the subscribing button below. Richard, in a recent video, you addressed the crypto community in very harsh terms to say the least. They're really f*****g terrible. They're not funny, they're not nice, they're not social. Do you include Ivan in this bunch? I think Ivan's great. I mean, Ivan stands on stage and is a presenter and does daily YouTube broadcasts. He's a tall and strong and beautiful man. I don't know what more you could want. However, I think most people on the internet, if you want to know what the general population is like, go down to your central train station or bus station and go hop on board and look around and see how many people you want to kiss. And that's the general public. And then take those guys and divide them by half in quality. And that's what you have with the internet and keyboard warriors. These are people that, if you paid them $100 to show a picture of themselves on stream, they wouldn't do it because they're not proud of what they look like. So it's very statistically accurate to point out that most people do suck. And, you know, we all suck on our own way. So I'm fat and old, but I'm also rich and funny. So you get, you know, you get the good and the bad. So you are saying that this is not something specific of the crypto community. It's something in general in the world. Well, I think if you want to point out things that are specifically shitty about the crypto community, it's that, you know, in the stock market, you don't, you see a light rivalry between Ford and GM. You see a light rivalry between Apple and Android. But in crypto, once you buy a bag of crypto, you're a diehard zealot religious fanatic that will stick his head in the sand to any other technologies that appear because you have a misguided belief that if other technologies are successful, that your bag will be less valuable. It's actually the opposite. All these things go up and down in value together for the most part. So when Bitcoin makes all-time highs, altcoins make all-time highs. When altcoins make all-time highs, Bitcoin makes all-time highs. And when Bitcoin makes local lows down 85%, altcoins go down 95%. And so everyone's actually harming themselves, hating a bunch of things that are useful technically because they're tribalist idiots. I mean, is there anybody that's like an Apache server maximalist or like a QWERTY keyboard maximalist? No, they're just tools. Now I want to ask Ivan. So Ivan, do you share the same opinion as Richard on the crypto community? I believe you are a little bit more less extreme on these kind of issues, but let's see what you think about it. Well, it's true that many people get very, very tribal because they invest money and as soon as you hear that somebody attacks your investment, obviously you want to protect it. Also we have a lot of new investors that maybe never even bought stocks or funds or anything in their life before and crypto is their first investment. So because they're inexperienced, they have bad risk management and they simply buy too much at the wrong time and then they feel bad. And obviously also when you hear that somebody attacks your bag that is already down 30%, 50%, it doesn't feel good. So I totally understand that and I think it will change as well with time. We get more mature investors, but it might take quite some time and it's just true that we have a lot of inexperienced people in this space and we're all inexperienced from the beginning. But it's like the famous quote I think from JP Morgan. When somebody asked me, hey, I'm worried. I cannot sleep at night because my investments are going up and down too much. So how do you manage it? And then JP Morgan answered, you know, sell until you can sleep well. So I think this is the kind of mindset that many people should employ more in crypto because too many people do not have good money management, risk management. And obviously on top of that, you hear somebody attacking your bag. It's not good. It's not good for feelings and you attack back. I'm going to talk about Hex, the cryptocurrency that you recently launched. So you said that this was going to be one of the fastest appreciating assets in history. It was launched in December and right after the launch, the price of Hex collapsed. In January, it was worth, I mean, one Hex was worth less than one Satoshi. And that increased these rumors, these accusations all around the space that Hex is actually a scam, a Ponzi scheme, a pyramid scheme. So I want to know what Ivan thinks about, before asking you, I would like to know what Ivan thinks about Hex. Yeah, yeah. Well, many people call Hex Ponzi and Scam, I don't agree with that. I mean, if anything, a bad project, maybe if you think that, but too many people confuse the words Ponzi, Scam, fraud. And I think that when Richard did the project, he explained it quite well how it works. There is questions about the adoption amplifier, but Richard also answered a lot of that in his streams and who has the ETH really and whether it's an exit scam because Richard moves ETH. But at the same time, it's of course either they're there or they're moved. What do you expect them to do? So all in all, possibly a bad project, but a scam, I don't think so. But have you heard of this origin address, which is supposed to receive like 45% of all Hex are going to end up in this origin address, which is supposedly under the control of Richard? Yeah, I know about that. So look, if it is the case that people read everything through, they saw him speak about Hex and they still were interested, then it's all good. I mean, it's a fraud or a scam if you mislead. And there are many people say that Richard misled because he has advertised it as super pump coin that's going to go up 10,000%, 10,000 times. That I can understand a bit, but to me it's possibly a bad project. Is it a scam? I don't see it really as a scam. Okay, but can you evaluate quickly the performance? How is it going according to you? Would you invest into it? Yeah, to be honest, I know that it was sub Satoshi, but then I saw on social media Richard having that it ate Hex in one week or 30 days. But I haven't been following the performance day to day. I don't know what the price is right now. Richard, now it's your turn to defend your project. We live in a world of noob speculators. They want to buy the thing that's making all-time highs. They buy Bitcoin at 20,000. It goes to 3,000. Then they cry and moan and complain and don't buy the dip. And then it goes up to 14,000 and they go, Oh, it left me behind and they become jaded lovers and they have nothing but bad things to say because they got left behind because they got shaken out because they're weak hands. Bitcoin has shaken out and destroyed weak hands so many times that if you call people that used to buy a mining hardware way back when, when the price was $270, none of them is rich on Bitcoin because they all got shaken out even though they used to have Bitcoin when it had not even gone up to 100X yet. So Bitcoin has a history of just shaking out weak hands. Amazon dropped by 95%. Now it's 50% of all commerce in the United States. Ethereum dropped by 95%. Now it's outperforming Bitcoin. Bitcoin dropped by 85% three times. So the fact that cryptocurrencies dropped by 85% and 95% as long as they're legitimate ones that have product market fit and onboarding new users and are going to have, you know, meet their all-time highs again, those are buying opportunities. So right now, you're just saying that there is a buying opportunity right now for hacks. I told people back then that if you enter at something and the price goes down and it goes down a lot, let's say the price goes down 90%. That means you could 10X your stack by spending twice what you originally put in because now the same amount that you originally put in is going to get you 10X more. So now you've actually got 11X your stack by doubling and dollar cost averaging down. And everyone was like, Oh my God, I can't believe he would say that. Oh, you know, because they're stupid. They don't understand speculation. They think the price is going to keep going down to zero. Well, yeah, it dropped under a Satoshi and now it's at three Satoshis and it was up at five Satoshis. So the people that bought the dip right now are up 3X in Bitcoin and 4X versus USD. If you go to hexinfo.io, you can see right now that hex is up in the last 58 days, 2.7X versus ETH, 3.84X versus Bitcoin and 4.52X versus USD. And the stupid people who were warned that maybe you don't want to buy the first day because we have a similar launch phase to what EOS did and everyone that bought the first day in EOS got annihilated. So here's the EOS chart and here's the EOS data that shows how much Ethereum came in over 350 days and maybe that gives you some clue as to what might happen in a nearly identical launch period. Okay, Richard, that's quite interesting because you have a very specific way to promote your product. So several times you said that in order to succeed a cryptocurrency project like a coin needs to sell itself with Ponzi scheme tactics. I would like to know what Yvonne thinks about it because at the end of the day it's all a matter of really legitimizing the space. How can you be successful or how can you think that this space can mature when people are promoting their project with Ponzi scheme tactics. It doesn't matter whether they are at the end of the day legit or not but they still use this Ponzi scheme tactics to promote their project. So do you agree with Richard, Yvonne, on this? I think sometimes people in the crypto space they simply haven't sold things online. So for example, when I promote my academy where we teach people how to program on Ethereum, EOS, Bitcoin we have affiliate links. So I can give you an affiliate link and you can promote it for me and you get a cut. For some reason it's super dirty to do that in crypto but then you look outside all companies who are successful they have some kind of affiliate deal and I think most people who are in crypto are complaining about, for example, affiliate links what else do people complain about? Mostly affiliate links for me at least. They haven't even run any business. So I think whenever you're selling something you gotta listen from people who have sold things in the past. People are in crypto to make money. They're in it to make money. They're not here to change the world. If they wanted to change the world they'd be doing medical research and volunteering in Africa. They're here to make money. They sell stocks for one reason. They sell them for all kinds of reason. They buy them for one reason. People buy crypto for one reason. So I am the one that's popularizing speaking in multiples. I'm the one that can tell you that Ethereum went up 10,000X on the Kraken exchange from about 15 cents to $1,500. I'm the one that popularized that 10,000X number. I just copied that number and said hey look Ethereum did it. Hex has features that are pumpamentals that can help it outperform that number. When it will happen I'm not exactly sure. There's no time frame on it. I wasn't sure when Ethereum would do it. I didn't know it would ever do it. But I know Ethereum did it and did 10,000X and Bitcoin did a millionX, a 2 millionX. Bitcoin is up right now about 800,000X from a penny. I'm the guy popularizing these terms and I see other leaders of coins copying it because they go oh people actually want to make money. They care. Ponzi schemes already take our sales pitch. I need to distinguish legit project from Ponzi schemes and this kind of stuff. I would like to know from Ivan since he's running an academy which is teaching crypto which is teaching people about crypto and blockchain technology what are the tips you could give it in order to spot a scam or a Ponzi scheme and distinguish it from a project like Hex which is according to you still a legit project. Well, number one is guaranteed returns. I mean unfortunately we see a lot of the scams right now guaranteeing returns. Whether it's that they pretend to be arbitrage trading or whether they pretend to use your money to invest somehow it is a clear sign. That is number one. Number two a lot comes to the product. Is the product even there? In most cases no. And sometimes it's impossible to know whether a team will seek and finish the product. For example if you look at Tron right now they're doing a lot of things and buying all kinds of companies BitTor and Dlive, Steemit but from the beginning you didn't really know whether Tron is going to be here in 2020 or not and many ICOs are not here in 2020 that looked kind of like Tron from the beginning and I'm using Tron as an example because many people point to it and they scream that it's a scam. So having a product from the start is important and then try to understand look you yourself got to understand at least a bit, look at their code is there anyone doing anything is it just a fork of Bitcoin or ETH or something try to understand the concepts behind the buzzwords because it's so easy to go you know DLT, IOT, AI we're gonna combine everything. I think it's risky in a space where everybody calls each other a scam I think that's where everybody is a scam then no one is a scam and the real scams go unnoticed what do you think about that? Absolutely look if you're anyone in crypto who people know about you will be called a scammer look everyone is a scammer nowadays I'm called a scammer now and then Richard's scammer probably you Giovanni are also a scammer if you even get some kind of following somebody will call you out maybe even for having me Richard on the show you will be a scammer according to some people so yeah it doesn't mean anything yet People confuse these things all the time Do our restaurant scams know but they're the most likely to fail a new business start okay so people that start restaurant scammers know they wanted to do something good but life is hard so prices dropping 95% that's not enough to call something a scam Bitcoin drops 85% three times Ethereum drops 95% everything drops 95% questions whether it gets back up whether it gets back up so what does make something a scam? fraud, lies, deceit, misleading people guaranteed returns arbitrage that never happens some appeal to complexity that gets people to go oh well that could make money sure, advanced fee fraud oh it's going to be so great in the future it's going to be amazing in the future it'll be worth X in the future so give us Y now crap like that we could say that you are misleading people when you said that this hex was going to be the fastest appreciating asset in human history or not you're missing understanding English if I design a jaguar to go 220 miles an hour and then when we build it it only goes 210 it was designed to go 220 but it couldn't do it what amount of return was Bitcoin designed to do? well it's already done a 2 million X in 2017 and it was designed to do better than that and replace all fiat currency which it hasn't done it's got barely any adoption so technically it was designed to do millions of X but it just wasn't declared that way but it was indeed the fact that the hex is just designed to outperform these other products by having features that it doesn't it doesn't mean that it will the price could go to zero right now in all crypto we could have a solar flare and all our electronics could go down and all crypto could go to zero and this stuff drops 85% and 95% all the time anyway so I don't have any guarantees or any knowledge of what the future is but I do know what is possible and I do know that Ethereum did a 10,000 X and it didn't have the pump of metals that X has it didn't have a lack of miners dumping the price there's still Ethereum miners dumping the price every day how I explained to you earlier Ethereum's proof of work same way Bitcoin is they dump the price every day X doesn't have that problem Ivan you stopped doing your live streams after YouTube struck down your channel twice because of some kind of problematic content so how this ban has impacted your business and what are you doing about it? well we started reacting in December on December 24th during Christmas when we got the Christmas strikes and our reaction was that we now collect emails so each and every day I tell people to sign up on the email list because YouTube can remove the channel any day and actually it's been a reality for almost a year because the first strikes came last May in May 2019 and they're coming, they're removing them then they come again they're harshly harshly affected by a bug in YouTube strikes system where I got a strike they deleted it but then I got strike on the same video again I mean it's been a mess but it's just the fact of life that that channel that I have maybe it's here tomorrow maybe not and it's not something you can do about it but as long as it's here it is my main channel it is where I'm gonna be doing most of my work because it has the most impact now if something truly happens they delete it they can but then I have the email list and then we may migrate somewhere somewhere else but for now it doesn't and I get so many messages from library from I don't even remember the others but so many other decentralized YouTube's but they're solving their wrong problem I mean most of them just solve hosting that I can host my content decentralized somehow but it doesn't matter because they have no distribution and without distribution it's all worthless but why do you think that YouTube targeted your live streaming specifically I think it's because of this other live stream scams that are going on and it's terrible because the YouTube is also getting money from them I get ads all the time with Brad Garlinghouse giving away Ripple obviously it's a fake fake Brad Garlinghouse but I get all the time this ads and so live streams have been a problem this like scam live stream so I think their algorithm is just trying to find the scammers but they also flag us now I think that live streams could have been like the common denominator but at the same time I also see people getting strikes or not even live streaming so I don't know maybe I should go back to live stream but as a precaution I have just switched to prerecorded because live streams is what was my common denominator that I saw in the on YouTube people who got strikes most of the live stream but now I'm not too sure anymore but prerecorded works as well for me I don't really care but live stream is a bit more fun because you get user engagement more and the community engagement Richard are you not concerned that something like that could happen to your channel as well I don't really care about my channel that much I don't even I don't make funny faces for thumbnails I don't put text in thumbnails I don't edit the videos I don't there's a bunch of hymning and hawing at the beginning I don't even cut it people people watch me because they want to get smarter and maybe they want to make some more money right they they hope that the knowledge leads them to places they want to go in their life all that you know pretty stuff and engagement stuff it would work it would it would help and and it would enhance how the the onboarding of users occurs but it's it's just not been my focus so my next my next live stream with YouTube will start with hey guys we're doing this across five platforms we're gonna do it across Twitch and Periscope and Facebook and Twitter and like YouTube as well and I'm gonna try and get as many users I can to leave YouTube because YouTube has the worst customer service in the world they have no customer service so you get a strike yourself you get you have a problem with your account you anything they don't care about you they don't care if you live they don't care if you die you mean nothing to them absolutely nothing so you've got to treat them the same way they're basically your adversary they're not your friend so you've got to spread across other platforms on March 1st Bitcoin hit the all-time highs in terms of hash rate which is considered a very bullish sign because it provides security to the network Richard you said that hash rate is garbage is fake security so why do you think so well bitcoins had to roll back the chain once because someone printed six billion coins out of thin air that was an inflation bug but really it means you can print as many free coins as you want so was that protected by hash no because hash rate doesn't protect you from bugs okay so then what do we have a year ago we had another of the exact same bug happen you could print as many free coins as you want that was discovered by Bitcoin Cash Developer and responsibly disclosed instead of exploited and he could have minted as many free coins as he wanted did the hash rate protect you from that no so when you have a security theater where people pretend that hash rate protects and makes the coin more secure when all of the problems the coin has ever had have come from software bugs and hash rate has absolutely no effect whatsoever and is of no use to help versus those bugs that are the real ones that we get and so what does hash rate really do hash rate enriches chip manufacturers who don't live near you and who will not talk to you and in your audience then 1% of you is a minor because it costs you a thousand or two thousand dollars of money to send to some foreign country Ivan what do you think about it Richard always had this very critical stance against against minors so what's your opinion about this issue well look at Bitcoin Gold, Bitcoin Diamond who were just 51% attacked so hash rate obviously is important now I agree with Richard when he says that if it's centralized then it doesn't matter because I think Richard usually on your streams that's your main argument and that also makes sense but overall more hash rate is net positive, more investment more activity on the network and we simply have a more vibrant industry as a whole so that's key and now obviously if it's all centralized it's only one player that is mining then yes of course then only that player can do what they want but minors are not one player yes they are centralized it is in one area of the world mainly but incentives are created in such a way that everyone is working for the network that is what Satoshi has solved really he solved the issue of incentives by incentivizing everyone to play by the rules, everyone wants more money so obviously everyone will keep mining according to the rules because if you don't follow the rules you don't get money so incentives number one and then of course the higher hash rate the more difficult it is to hijack but of course if it's centralized but the degree of centralization can also be discussed it's not only one entity that is mining so all in all hash rate is definitely net positive I disagree completely it's terrible for price the cost to extract a resource tends to equal the value of the resource and what that means is that if minors can be profitable and not have all time hash rate and actually not give all their money to the electricity company if they have a difficulty so high then they can hold those coins and keep them as profit and not have to sell them at the market when hash rate is at all time high it means that minors have to sell every single coin that they can get to pay the electric company and what does that mean it means $500,000 an hour of bitcoin gets sold by minors to pollute the environment the higher the hash rate is the more the price gets sold down the more the environment gets polluted for security theater it's garbage it's no good it doesn't prevent against the classes it's not necessarily it doesn't prevent bikes but it's not necessarily more electricity because with faster machines with faster asics it's not necessarily more electricity and all electricity isn't as bad it could be hydro and renewable that isn't as bad but my appeal in this particular instance is to price they're selling the price down as a bitcoin miner you give money to the chip manufacturer you give money to the power company and then you sell bitcoins and that's all you do minors don't buy bitcoins miners pollute the environment and enrich chip manufacturers to sell the bitcoin price down they're not your friend, they're not your buddy they're hurting the price Ivan in a recent video you said that we are about to enter a phase of deep recession you said even depression and that everyone in order to face this phase needs to get at least a certain percentage of its own investment portfolio into bitcoin why do you think so? well because of different research that has been done and you can even do this yourself if you just create the simulated portfolio and you compare a portfolio for example that has mostly normal index funds like S&P 500 and maybe you have some bonds and then you just add a few percent bitcoin into it over the past 10 years it actually improves your risk adjusted returns so it just makes sense to have a bit of crypto in your portfolio whoever you are and it makes sense from a portfolio theory today obviously with bitcoin the biggest risk is that we haven't seen it perform in a recession how it's gonna be and that is the biggest question that everyone has right now and obviously nobody knows how it's gonna be until we actually enter a recession and see how bitcoin performs but that was my main point and there has been research done by several different entities I think the latest one was by Binance and Bitcoin's correlation to all kinds of different assets and it is basically very very low correlation and also it's low correlation compared to gold so not only is it not correlated to equities mostly during the past 10 years I think they looked at weekly returns but also not correlated to gold which is interesting so that's why from a portfolio theory I think with time it makes more and more sense to have a bit of crypto and bitcoin in particular okay Richard do you agree with Ivan's stance I think it's like it's a pussy style way to advise people so everyone that has a bag of bitcoin wants everyone else to invest as much in that bag as they possibly can so that their personal ROI is the highest so most crypto influencers now used to be bitcoin guys before all coins existed and if they were in the game that long then they switched all coins and then they switched back to bitcoin so now everyone's a bitcoin maximalist absolutely everyone but what does that mean? it means that it gives a huge potential opportunity to the altcoins to outperform again because everyone that was going to sell has sold now does it matter which one you pick yes it desperately matters because all crypto goes down 85% all of it except the stablecoins so bitcoin goes down 85% three times now more if you count all the flash crashes depending on which exchange you're on bitcoin has gone down mostly 95% ok well since all these things go down 85% 95% anyway what's the difference between them really? do they get back up again? and how high and how hard do they get back up? if you have to make your point here ok this is a pussy strategy like the one that Ivan just mentioned so what would be your strategy? look at Warren Buffett Warren Buffett doesn't believe in this hedging all your good bets that are awesome risk with a bunch of other crap like there's just two strategies don't put all your eggs in one basket or put all your eggs in one basket and watch it very carefully Warren Buffett is often one of the richest men in the world he's the best investor that's ever lived and he doesn't believe in this hedging strategy that other people recommend whatsoever without putting you know 1% in bitcoin per se I think that if bitcoin is the highest performing asset or one of the highest performing assets in the highest performing asset class why would you be a pussy and just put 1% in? why don't you put 10% in? why don't you put 20% in? it depends on your age category so if you're older you don't have as much time to make back money on drawdowns so you have to play less risky if you're younger, which I know all of you guys are because I look at my demographics you're all young dudes 30, 20, 30 to 40 years old 1% allocation of crypto is pussyville you should put a lot more in is my opinion, I'm not a registered financial advisor this is not a financial advice you take your responsibility if you make money, congratulations you did it on your own using your own intellect what do you think about Richard's more maximalistic position we're talking about different things I'm talking about wealth managers no wealth managers are going to put 10%, 15%, 20%, 50% into a cryptocurrency it's very, very rare if anyone would do that so when talking about portfolio theory it's a fact that bitcoin makes sense for wealth managers for funds to actually be in the portfolio it's different from talking about someone who is in crypto and is interested in crypto personally as an individual so we're talking about completely two different things and when you do see this research that is done by Binance and others when they show correlation between bitcoin and other assets it is mostly to explain crypto to wealth managers and to capital managers that is the main audience and also I was in Davos just a month ago and the same thing was there you see a lot of wealthy individuals people who manage capital and they're interested in crypto because for the past 10 years it has shown this very low correlation to other asset classes so that is the most important thing to realize that now if it is a case that we enter a recession and bitcoin can uphold that then it makes a very strong case that everyone who has any kind of portfolio is in Bitcoin how much of your portfolio is in Bitcoin well right now look during the bear market I moved mostly into Bitcoin from Alts and right now approximately 30% in Bitcoin and the rest of the capital is still to be deployed 30% of all your portfolio also including more traditional assets so we're talking about Ivan in a recent video if you use a specific DCA accumulation strategy for Bitcoin can you tell us a little bit what it is about how does it work so for most people DCA is the best thing because if you enter the market and you buy a big position you will be disappointed if tomorrow the price goes to minus 30% which it can do and you will sell because of the numbers in your portfolio so people who are interested in crypto the best strategy is to buy a bit every day every week however you want to but it's DCA, dollar cost average and for me the most important thing is to be able to do DCA for a long time basically endless DCA I call it and I'm doing that by working in crypto this industry has endless opportunities so many low hanging fruits if you are in this industry and you're good at something and you can contribute advantages because this industry is growing so much and not a lot of smart people have arrived here yet if you want to be in normal IT in normal development look all smart people go into computers now they understand that this industry is important computers are important in the 80s and not that much your average mother didn't tell the kid go and study programming because internet wasn't really a big thing and the same is in crypto right now look you gotta be in crypto you gotta work in crypto this is the best industry to change into Richard I guess you are not DCAing right? yeah look if you have the opportunity to buy things that are going up multiple hundreds of percent and you're just like ah you know maybe I'll get in slow it doesn't make any damn sense dollar cost averaging is an effective strategy in two cases one you don't have that much money because you're a wage earner you're wagey and you're you're only getting new money every week well if you're getting new money every week then you should buy every week things that tend to go up in price but if you've already got a stack of cash and something statistically goes up more than it goes down then you're just going to pay a higher price later on average statistically if you're buying things that go up more than they go down dollar cost averaging for a person that already has a stack of money is mathematically inefficient if you're buying things that go up more than they go down you want to buy them as early as you possibly can Richard you ignore psychology you ignore psychology because when people make a big buy and the price goes down 15-20 percent in a week yes if they hold statistically as you say they have the asset that increases the most statistically over time psychologically they will not huddle psychologically they don't want to see minus let's say somebody has a big stash he puts one million next day he sees minus 20k minus 100k psychologically it's very difficult so even if you statistically if statistically it's true some one shouldn't invent a currency which makes them lock up their money so they don't have that problem anymore they could call it hex and you would get paid to lock your money and the longer you lock it the more you get paid we've already solved that problem in hex and we've solved a lot of other problems too that was Ivan on Tech and Richard Hart thank you for being with us guys amazing talk thanks to Giovanni for setting up and thanks Richard for being with us