 And we are live. What's up guys? Welcome back to another episode. I got a repeat guest He's been on a couple of times my good friend Brad Mills Who he is and what he does? He's been a serial entrepreneur for most of his life He's been in the crypto space for quite some time He's been involved in many different crypto projects a well-versed investor in the crypto sphere and overall kick-ass cool motherfucker What's up, Rod? How you been bro? Excellent. How you doing Amir? I'm good. I see you got yourself a little man beard going on Yeah, this is my ICO beard. I don't have time to shave your ICO beard You're stuck in a garage 24-7. Oh, it's still in it's still in the pre ICO phase right now. You can tell So how much what's the discount I can get on that beard? No discounts for me Amir They all say money talks wait list right here That's what list. That's wait list So man, you've been busy fill a cinnamon What's happening the space a lot of a lot of ICOs honestly that seems like the most Action lately has been ICOs and has my connection by the way So far so good. Okay ICOs and then also trying to stay ahead of like the regulatory FUD that seems looming and You know how how regulations are gonna impact All of these ICOs that are yet to launch is the big question that's been on my mind And then we've also got the the 2x hard fork looming which is also a big factor in a crypto investors You know Worry basket buckets. I guess you got to wonder like what is the 2x hard fork gonna do to Bitcoin? Is there gonna be another Bitcoin? So talk about them. I think a lot of people don't even know what the fuck's going on with that so There's you know histories. What is it histories written by the victors? Is that what the saying is? So it's actually to saying yeah histories written by the victors and single people over democracy win Single people over democracy win. What's the what's that? Yeah? So will it's a little the few not democracy that shapes and transforms history. Oh, yeah I think like the crowd transform is not the crowds are the crowd the sheep Yeah, so there's all that both of those quotes fit perfectly right now with crypto because there's a lot of people that say Bitcoin used to be a benevolent dictatorship, right and yeah majority of the world Would be served well under a bit of benevolent dictator But then you know how the other side of that is like what if that benevolent dictator goes crazy and just doesn't let benevolent anymore not good so Bitcoin at the moment is struggling between the three different powers That are shaping the future of of the of the actual code and economics of Bitcoin itself And so there's the core developers who've about a hundred and some strong developers who are Like like just slowly Integrate changes and upgrade the network and don't want to like move too fast and break things right and then there's the businesses that are Getting this crazy influx of of customer support from users Chinese Bitcoin, but paying really high fees and having full blocks and Kind of getting frustrated that the Bitcoin network hasn't been upgraded to two megabytes or whatever yet and Then there's the other side which is the miners who Have this game theory sort of play with Bitcoin Where they need to make You know earn bitcoins for securing the network and processing transactions But they also have a little bit of incentive to spam the mempool to create a fee market that Will will take you from you know, like a 20 30 cent fee to a Dollar to three dollars. I was paying like four dollars sometimes a few months ago for my fees So to send like five bucks Yeah, so I remember I ran this little thing on Facebook for my friends like hey if you don't have any Bitcoin yet I'll send you five dollars in Bitcoin I got like 20 people asking me for five dollars in Bitcoin and as I was sending these fees I was sending these Bitcoin transactions. I was paying like three four dollars in fees to give someone five dollars So once You know the the you'll see a lot of people on Twitter with the hashtag and their name no 2x yeah, and so this is kind of like the same as the user activated software movement when people had the UASF in their in their name and It's kind of like an activist sect within Bitcoin Where it doesn't necessarily mean that these people are against Upgrading the network with a 2x or 2 megabyte or whatever Block size increase. It just means that they support cores position on it which has been They will do it but not right away and not without Extensively testing the code and making sure that it's backwards compatible with previous clients so you got people that see this no 2x and You know like Charlie Lee from litecoin has recently joined up with with the you know recommending people drop out of the New York agreement. That's the NYA. You may have heard that term NYA and Nick Zabo, which is you know one of the one of the earliest guys in Bitcoin who He was on a podcast with Tim Ferriss on Tim Ferriss podcast recently. There's a really good listen I'd recommend everybody go listen to that one and pretty much every core developer and Now you're starting to see some businesses drop out of the New York agreement so From a high level What this whole debate is it's these three camps right the miners the coders and the businesses I'll trying to like vie for power and control over the future of the Bitcoin network right now you've got the majority of users that are supporting the hard fork because they don't know what the hard fork is and It's because they're on blockchain.info or bit pay And they're just like regular people that have Bitcoin and send Bitcoin But they actually don't know what this whole block size debate isn't you know, they're not actually supporting it But that's what the claims are that these users are 90% of the users support the hard fork, but it's really just two or three of the major companies that have All the users are supporting the hard fork so the biggest risk for for right now is that if If this hard fork happens and there's another Bitcoin a 2x coin What the hell happens to Bitcoin and which one of those is Bitcoin? So that's what this big fight is right now is to control like which one is going to be having the ticker of Bitcoin BTC and which one is going to live on because The there's like Jeff Garzik is one of the lead developers for this 2x hard fork And he's he was kind of like ostracized from Bitcoin core a little while ago And so now he's kind of like revenge coding for Bitcoin Bitcoin 2x fork And he doesn't want to add replay protection and they're saying that you know replay protection is for anybody doesn't know it's when a Chains forks off and splits right if you want to send coins from the 2x fork and sell them To get bitcoins on the original fork if there's no replay protection you may sell just both would go So when you say why why gone to earth than he or they add that because it's a power It's a power move. It's part of the this whole struggle of control over Bitcoin They'd be you know if so the 2x camp has 90% of the hash power right if the miners are supporting the 2x So it's the miners in the businesses right now that are on the side of doing the 2x hard fork But the developers don't want it right now. They what miners do we know what pools? It's on coin dance if you go to coin dot dance You can see all the pools that are voting for the support. It's like 90% right now, but it's a little misleading because slush pool You know only 9% of the slush pool users are voting for 2x But it shows that slush pool is voting, you know on on the side of 2x But slush is a really small pool right now But it's mostly like the larger The larger pools that also, you know are the only ones mining Bitcoin cash right now. It's it's it's like It's a bit of a it's a bit of a like a political battle and a power struggle So the reason why they won't add replay protection is because they kind of want to wrestle some power away from the core developers because the core developers have been You know pushing forward segwit and and all the advancements to the Bitcoin core code and some of these other developers feel like they don't have a say and They're frustrated with core for it's been like two years since the Hong the original Hong Kong agreement where they agreed to put segwit plus two megabyte hard fork in and It's just been a debate ongoing ever since Bitcoin unlimited was like Roger Ver's big push to try to wrestle control away that failed and now they've rebranded it to Bitcoin cash and Bitcoin cash is an ongoing experiment that may or may not work out, but now you've got Craig Wright who's You know claimed to fame is that he is Satoshi Nakamoto, but was not able to ever prove that Now he's super active in in the community pushing segwit pushing up for getting rid of segwit Pro 2x John the cafe Yeah, John McAfee as well, but John McAfee is kind of like a dark horse in this whole thing He he's he's just I don't think he understands really what Bitcoin is. He's just influential and he has a lot of Resources and Jihan Wu and Roger Ver and those guys got to him first and he's like in late 70s Like I don't think he cares and he also would just launch his own John McAfee crypto hedge fund coin He had his accelerator coin Yeah Gaffy coin or whatever it is What do you think this there's a lot there's a lot to this So statistically speaking, what do you think like what are you pegging on like well? I think what's gonna happen right now the way that I'm structuring my portfolio is I think the 2x hard fork is gonna happen Okay, I think there's gonna be two coins. There's gonna be the original Bitcoin and then there's gonna be the 2x coin Okay, and I I'm banking that the exchanges are all gonna support Bitcoin the original chain with Segwit and one megabyte heart one megabyte blocks as BTC because oh, there's Barely any of the largest exchanges are supporting the New York agreement and the 2x hard fork so I'm pretty sure that What's gonna happen is the hard fork will happen. There'll be volatility in the price You're gonna get to You're gonna get two coins again But it's gonna cause havoc if people start trying to sell their 2x coins or transfer bitcoins to the 2x For whatever because you're gonna end up selling both unless they put in replay protection and they don't want to put in replay protection because the The idea behind this 2x fork is that it is Bitcoin So it's a contentious fork between a couple of camps on one side and a couple of camps on the other side And they don't want to add replay protection because they think that they both think it's Bitcoin So let's say it's gonna cause some craziness based on the replay protection Let's say you have your private keys on a ledger nano or treasure or whatever Are you gonna automatically get this if they split this new 2x coin? Yes You will automatically get them but unless you go and take the action of like proactively splitting your coins away into the chains It's not gonna automatically happen like the Bitcoin cash fork like when Bitcoin cash forked off you automatically got Bitcoin cash And then if you sent your Bitcoin cash somewhere You didn't have to go to a splitter and like split your your private keys right on the both forks Yeah, it was automatically done because they added replay protection, which was the right way to do it That's right, but now this is not gonna have a replay protection So if you start thinking oh look I got these 2x coins for free I'm gonna sell them and you send them to an exchange. You're gonna actually send your bitcoins, too So a lot of users are not gonna know what they're doing and they're gonna lose their bitcoins if they start to try to sell 2x coins For Bitcoin or for dollars or whatever So I recommend like if the 2x fork happens You should take action before it happens in November like if you feel like it's too risky And you want to sell some cryptocurrency and you know just do it before the fork happens because otherwise you may end up with Losing, you know coins on both sides of the forks if you don't split them properly now The other side of that coin is well Maybe I'm a speculator and I and I think that both of them are gonna be worth more in the end if I just hold them for six months Which is what happened with Bitcoin cash and Bitcoin so It's tricky. It's tricky to recommend like what should you do in this case when the big The big bad fork is coming again What's the saying gotta be a hodler Well, what's the danger just hold what's the danger just holding Bitcoin like let's say you have shitload of Bitcoin What's the dangers in that well? Your turn. There's no long term. Yeah long term. There's no threat of just holding That's probably the best strategy The only threat the only threat I can conceive of for long term holding is that this just ends up fragmenting Bitcoin so much and that to if 2x does actually win and they actually do have 90% of the hash power and 2x becomes Bitcoin then the majority of the core developers are gonna leave Bitcoin They're not gonna they've already stated a lot of them that they won't develop on it anymore because a lot of these guys are like nerds and like evangelists and passionate Developers like they're not gonna work on a project that they don't like anymore and that that doesn't align with their vision and their goals anymore So some of them are saying that if the 2x hard fork passes without their consensus then You know, they're just gonna go and like take the original Bitcoin and fork it away from proof of work and change the algorithm So it won't be the same consensus mechanism anymore. Some of them are saying they'll go work on other projects Some of them are just gonna leave the cryptocurrency space. I mean, it's there's a risk of if this 2x hard fork Succeeds as the real Bitcoin then we would lose a lot of smart developers, but then You know, the other flip side of that is I'm sure there's gonna be more smart developers coming on board and joining up So I really don't know. I mean In the end it could be that Bitcoin loses value Because of this this political struggle and both Bitcoin so like Bitcoin Bitcoin cash Bitcoin 2x like they could all lose more value and dominance to altcoins So maybe but I actually think Bitcoin cash might increase in value. There's a lot of issues between 2x Yeah, Bitcoin cash probably Will Mineral to Yeah, but then again like that all depends on Really what the motives are behind Bitcoin cash because right now it's only Jihon mining Bitcoin cash basically like even though The motives is profit Profits the moment, but there's a lot of like speculation that the Chinese government is Trying to get a nice grasp and foothold in cryptocurrency and that Bitcoin cash is the way that they're doing it and So yeah, maybe that's gonna increase the value of Bitcoin cash because you've got a government trying to Try to grab a piece, right? Yeah, it might also be that the market rejects that and It's not it just keeps going down because like another 80,000 coins were sold by Zappo just recently The price is going down a lot There's coin base still has to release all their Bitcoin cash to the users and I imagine once that happens It's gonna be massive dumps again. Yeah, so I know I know from my OTC connections that there's large buyers stepping in and buying up OTC like 10,000 coin blocks Like really huge blocks of Bitcoin cash. So there is some people buying up this Bitcoin cash that's being sold And and supposedly it's like a mandate from Government or whatever to to kind of prop the price up or buy it up or whatever. I don't know That's sort of like speculation. I don't have any real confirmation on that But let me ask you this what would happen listen, we all know that All the ICOs are pegged towards Bitcoin Bitcoin's the tidal wave it goes up everything goes up it goes down everything goes down What would happen if Bitcoin dropped in 50% what happened all the tokens? well, I think there's only a there's a certain amount of correlation that that exists and There's a large pool of users now in cryptocurrency that That are like agnostic towards Bitcoin So a lot of us like early Bitcoin evangelists and Bitcoin maximalists or whatever I call myself a Reforms maximalist. I'm not really maximalist anymore But I still believe Bitcoin is like the best cryptocurrency for money and Store value but a lot of the people that have come into the space in the last year are you know They came into the space because they're like, oh my god. Look, I missed Bitcoin. What's the next Bitcoin? I need to I need to find the next thing and then oh, I missed a theory and what's the next a theory? I'm gonna go buy a blah blah blah So majority of the people that have come into the space are not really aligned to Bitcoin so the reason why I say that is relevant is because I Feel like if Bitcoin does drop 50% it's not necessarily going to be bearish for the whole market and New markets have developed with a cerium and with the US tether and the US dollar. So I feel like Yes, Bitcoin is the leading indicator for all cryptocurrency and when Bitcoin's up it pulls everything up and when Bitcoin's down everybody gets panicked and pulls everything down but at some point like that will decouple and Cryptocurrencies will rise against Bitcoin if Bitcoin capitulates Because cryptocurrency in general as a space is not gonna go away even if something fails with Bitcoin So it will go away if there's an epic fucking failure in a theory. I'm gonna tell you that much I don't know man. I think like I feel like yeah We'll have a 90 not every single coin is a fucking ERC 20 coin Imagine there's an epic failure in the consensus protocol. So I do feel like if ethereum Tanks to like 10 bucks or 20 bucks or something like that back down to where it was last year Yeah, I mean it's gonna suck for a lot of coins It's gonna be mass chaos all these ERC 20s are gonna Panic because most of them have their funds stored in ethereum And they're gonna basically the reward test is gonna go to zero But we've seen like with that hack all these hacks that have happened like Eternity and what was the other two? The gambling one pair Erity as well. Yeah parody hacked right so a lot of these ICOs lost their money. So edgeless lost their ethereum Eternity lost their ethereum, and there's a third one of form city token or something like that. Yes Ten million so all these guys they're losing their their their money they're losing their more chest and that's kind of like a Simulation if what what would happen if the market went to zero right the ethereum market went to zero because these guys for them It pretty much did right and they're still trading. They're still doing while like they're still proceeding So like I feel like we're at a bit of like mass You know enough inertia that and like enough users have come into the space that even if there's some kind of crazy price capitulation capitulative events with ethereum or Bitcoin it's gonna pull us down for a bit But I don't see a scenario where in five years or even two years. We're not back to this level or higher. I Just I think I'll pick up and different first I'll say 99% of these ICOs won't even ship and they're not businesses that will epically burn down to the ground. Yeah Number number two from even like a technological issue a lot of these ICOs can't even scale just based on the reality and nature of Ethereum for God's sake like if you have a token ERC 20 token You can only do seven transactions per second per node. You can't run like I can't even run an e-commerce store in that I can't run any app on that. I can't run hundreds if not millions of users per second on my platform So there's a technological barrier at stake as well Also, there's a barrier at stake like we do a blocky because it's not enough developers and enough educate, you know Smart bright minds work in space. That's what we're trying to solve that problem with our online learning platform So for me, I see a lot of what ifs I see a lot of Things that are Dependent on one each up on one it out on one in each other I see a lot of things that if one if one thing in this jenga piece goes out everything falls apart Which is scary to me for a whole ecosystem Yeah, I agree. I think though that like I Am looking at a lot of these projects as they're not actually dependent on Ethereum They're just ERC 20 tokens that could easily be migrated off of Ethereum and put their ticker somewhere else Like all of these D apps Yeah, that's a major problem if any of these D apps are really banking on launching on Ethereum with their scalable messaging platform or or whatever Internet of things upgrade like whatever your DAP is If it's gonna be on Ethereum and Ethereum can only do seven transactions per second gets bogged down whenever the next big ICO happens Those projects I I'm not talking about those. I'm talking more or so about the ones like That are just using Ethereum as a fundraising platform basically. He's just kickstarter for them like I say I think like Ethereum has taken the technology out of blockchain technology Say that just because just get well, but it's scary man It's really scary the but it works as a fundraising platform But well kind of like my whole thing with ICO is like listen I'm an investor and I still There's all very limited use case scenarios where tokens make sense very limited use case And I always break it down to this and like crypt economics input output levels also token velocity for increase and decrease If you buy a stock, I buy a stock to keep it. I have shares in that stock I can have a voting rights in that stock and I'm actually keeping I don't want to sell my stock to buy anything else I'm thinking long term majority of these ICOs what people are coming in is all arbitrage It's pump and dumps people, you know increasing a value within the first two weeks of launch and decrease in value afterwards And there's no reason for me to keep that token, you know, we're at a conference the other day Everyone everyone raised their hands saying yeah, I bought a token then we asked everybody How many of you actually use that token on day-to-day day-to-day basis on a utility like actually have value? Nobody put up their hand everybody bought it for speculation. Everybody's looking for arbitrage Whatever that is and they sell it to guess what they want to make more theorem or Bitcoin You're not actually fucking keeping the token or using it token which defeats the whole purpose of an investment like what are you actually investing in? Well, there's there's there's two sides of that argument I think there's that there's the fundamental analysis and then the actual use cases and then there's the investment side right like the speculative side so Yeah, I agree with you on most of these use cases, but here's a little chart like to keep close by at all Times, I don't think you can see that. Yeah. Yeah, you've shown that before that's the stock market That's crypto currencies like that's the pattern that happens in any investment, right? This is from Alpha Trends Brian Shannon, I think his name is you wrote this book Alpha Trends understanding market structure It's great book on technical analysis. So You're gonna see those rises and those dumps and those like ups and downs in any market whether it's cryptocurrency or stocks or futures or whatever so Fundamentally, that's a separate problem. That's a separate issue like Fundamentally, yes, majority of these projects are gonna fail just because they're gonna follow the same pattern of startups Like what is it 99% of startups fail or something like that? Yeah, but I at least have a some cost box for startups. I've equity in a company I'm keeping my equity long-term. I want that company to succeed and I'm doing everything in my power to get more equity in the As opposed to a token if someone buys a token pre ICO 50% value and the token goes up 200% within two weeks You mark my words are fucking liquidating as much that token so token velocity goes south people are liquidating to buy a different asset A different hedge you're not actually keeping that token for long-term value or second as the ICO majority not all of them That's not fair to say we can't just brush it with a what a broad stroke But majority of ICOs they promise in utility of token obviously to escape securities Please name me 25 or even 10 startups or ICOs that I actually fucking use my token Monday to Friday Yeah, I mean we're very early in this space though I'm trying to play a little bit of devil's advocate But I agree with you for the most part But I do think that there's a shift happening and that eventually there is gonna be use cases for these tokens Not all of them. Oh for sure 100% bro. I'm very bullish on that But on our current landscape, that's not the case like I'm bullish on crypto equity. I'm bullish on crypto rev share I'm bullish on on somehow having a token voting right system. I'm totally bullish right there's a lot of because for me like totally don't make any sense and Mm-hmm, this is a bubble for sure We got to like make sure that we're aware of like as investors Oh bubble Wu-Tang clan is nothing to fuck with just got themselves a crypto fucking hedge fund the cream The cream fund yeah cream of the cream of the crap Bro But we're at the bubble when we can't cleanse it. This isn't anything different though than any other Bubble or any other market. I don't feel except it's open to more people and it's fast. Yeah, and yeah, I think like Yeah, a lot of these projects are just crap and they're gonna go to zero and I thought about I try to think about this too and especially recently because We're having like This major backlog of all these ICOs that have run in the past three four months that are not getting added to the major exchanges So there's I'm probably holding 50 ICOs just myself personally not for the fund But personally because the fund thinks like you I mean you're like the fund thinks like the majority of these things are gonna Go to zero and we've got this fiduciary duty to our clients to invest in good fundamental stuff and hold long term and not to Be flipping things that are given us a hundred two hundred percent Just to get investors in like the fund is a totally separate Operated than how I run my own personal portfolio and but for my personal portfolio. I'm a sucker for a deal So when someone's giving me an 80% discount, I'm like, I gotta toss into that I gotta take that if it's a good if it's a good You know a good Project like I'm not my bar is like maybe here You know where as long as I can see over and there's okay. It's not on fire Okay, I'll give you my money for 80% discount, but like alphabets bar is like up here So for my personal portfolio anyway, the reason I'm saying that is because like I've got like 50 ICOs that I'm waiting to get Launched in my personal portfolio, and I've got no liquidity for all these ICOs right now. So The the regulatory risk I think is very high for these US basic changes like bit the tracks and and Poloni X and all the like major ones like Whatever, I don't even know if they're cracking as in the US. I think they are but They're all not adding tokens right now Vittrex added 88 this week, which is Cardano Cardano card card. Whatever it's called. It's IOH project Oh Boreos, what was it called? Part Cardano. I think is what it's called Yeah, but the actual the actual consensus model is called a board. Oh I don't know But that one was like a child. It was a Japanese or an Asian only ICO that they ran for two years and like I think so Bittrex probably added that because it's Followed, you know, it's not a security and Bittrex just delisted bit shares and a bunch of other tokens and It's Poloni X only added What was it 0x or something recently and it's not done. Well, it's followed the the distribution chart here It's it's just another issue man in declining You know the weak points of the space for these exchanges then super yes points so, okay, you've got now you've got like 50 or 100 ICOs that are like probably if you're gonna rate them from a to f, you know, we've got like probably 30 40% of them are or fails and that number is increasing every day like instant fails like There's no chance that these I don't want to name names because I'm like I talked to a lot of them but I Can't even like I can't even I can't even hold my tongue on the phone with these guys anymore Like sometimes like after a call I'll get on a telegram group with my friends or whatever and I'll be like, oh I talked out so and so it is such ridiculous piece of shit Like it's never gonna work But now sometimes I'll even say that to them like straight up on the phone like after two minutes I'm talking to me. I'm just like this is not gonna work guys Even if I've told a guy recently like even if you give me 98% discount I would probably still say no because this is not gonna work And you see you have to you have to do that Yeah, yeah, I mean if there's just more and more crap coming to the space But of the ones that that I invested in now I mean some of them are decent projects that will probably work if they can get through the startup Challenges right like a lot of these are just startup pivots that are putting their technology on a blockchain or Decentralizing and that's that's and that's a scary thing. I forget who said it but I read it on Twitter I'm like I totally fucking agree most people who are pivoting for ICOs can't fucking raise money from regular angels Yeah, and that's the majority of these crappy ones right now It's like a failed startup that couldn't raise any money But once they just say oh, but it's on a blockchain like I'm gonna give you a hundred percent bonus like everybody Piles in on this ICO and then and then it capitulates like it it pumps and then dumps and and everybody takes profits So what you say I totally agree with that happens, but that is also just a regular Human cycle. It's like an emotion driven cycle and trading in the market So not all investors are long-term and a lot of them are traders and a lot of them don't even know how to trade So they they'll just dump when it's going down because they get scared They came into the space thinking all I got to find the next Bitcoin. Oh, I'm gonna buy BCC at a dollar because they didn't you know what the hell is BCC? But you know and then it pumps in their site and then it starts to go down and they just dump it and get scared like a lot of it is a lot of it is just human emotion driven that they don't know how to trade they don't know how to like Properly manage risk like they'll go all in on a couple of coins and then once they start to lose They'll lose most their money and people start margin trading and like using leverage and just get margin called and lose other money like That's gonna happen for sure whether or not this is fundamentals Like if say everything in the space was really good fundamentals. You're still gonna have these patterns in the in the price So like oh totally But I also I also I also believe though for The ecosystem mature we have to figure out the new evolution of exchanges Yeah, whether that is decentralized exchanges or that's better token protocols and token allocation and token distribution Actually having it for example, like if you and I IPO a company we Sorry, let's say if you and I want to buy shares in a company. That's IPO We can't just buy all the shares at once, you know, there's lottery systems There's actual control mechanisms in place. So you don't have a corporate takeover so you control everything and you can manipulate the stock, right? These why though, I don't I don't know what is that the reason why or is it just I control people's Classes of wealth. It's one of the reasons why man as a publicly traded company. You want to stop people from taking over a majority of your stock. Yes so You know like for example like bank or there's a couple of people that own and I'm not pooping on that I'm just saying based on this on the numbers. There's a couple of people that own everything so For me, that's that's a big red flag where and if you're investing something It's like four or five people own everything that if somebody design decides when they to dump all those coins The value of your coins go down to zero and this is why like I really liked civics Token allocation system where they had a waiting list the white labeled people I think they had a cap on how much you can have maybe it was like 500 bucks or a thousand bucks I forget yeah, but the whole process is really good They had a waiting room. So basically they also paused it and restarted it on it. They big So the whole system was really really good. I think that was very similar as well Yeah, Kyber Networks. I think did the same thing and Red Pulse is gonna do that. There's a lot of people using that whitelist method. I mean, that's fine I just think like I'm more of like on the libertarian side where I think like the free market is gonna Solve all these problems and why try to control everything and Yeah, but what that is the free market like let's say like let's say, you know, I Wanted to get into civic, right? I represent a group of say a hundred people and I want to buy a decent amount of civic so that we can all Have a little piece of it without trying to waste our whole day sitting in their chat room playing their stupid lottery Like that's the way I was like why do I have to sit in a lottery? I just want to invest So their system worked for them, but it didn't work for me For all the people. Yeah, but see that's a thing though If you're if you're an if you're an open-source system like that and you're saying your token is a decentralized token the very nature of the word Decentralization means that you should decentralize the allocations of that token. Yeah, but when you're spelling tokens You're engaging in the free market and investments like if you really want to decentralize a token Then yes, tie the tie the token to the identity or some unique factor of every person in the world and give everybody one and That's real distribution like well, you could wasn't that to bite ball. Did it airdrops that way? I dropped it, but they're done airdrops Bite ball did airdrops to Bitcoin holders though. So you already have a distribution. That's sort of like skewed towards certain whales holding a lot of the coins and it basically just rip like Replicated bitcoins holding, you know, I have a friend who had like 2,000 bitcoins. Yeah, but think what you know think with airdrops that I kind of Prefer sometimes over ICOs if you really believe that your token has x utility that it's so wonderful. Just give it out Just give it out. Yeah. Yeah, there's a bit bit sends was doing that There's a few that do that But the problem with doing that is that like it has no value if you just give it out, right? Like no, well supposedly it has value. It's a utility people using your ecosystem If more users come on board and use your fucking token and day-to-day basis. Hey, he's gonna rise. That's the that's the promise Yeah, but if it's just like, you know, there's something that is just giving away tokens then How value it's no different a casino. Hey, I go to I go to casino. They give me fucking chips for free Hey, I got to use the chips casino. You're going to man. I gotta go there Let's go. Let's go and I evera baby. I think like, okay, so there is there's like a real issue with these like unbalanced distribution tokens I do like the Bitcoin in the first place was because of of the fact that I felt like it was unbalanced and you know the money system was flawed and the power resides with the central bankers and You know all that stuff which which I wanted to be Fight against in my original vision for why I got into bitcoins I was going to help democratize money and like everybody's gonna be able to access Bitcoin and everybody's gonna have Bitcoin and Bitcoin is gonna be The new money of the world But now it's like I'm driven by these capitalist needs to make more profits and acquire as much Bitcoins as I possibly can and there you go. I said it you fucking just said it See people yeah tokens to buy more fucking Bitcoin. There you go Yes, I agree that the people want most of the investors and traders want more Bitcoin or more dollars so It's like a token velocity goes down Right so liquid they out yes Bitcoin the value the tokens like me you and I selling all our fucking shares in the stock by Right, but there's a lot of investors that are in the space that really are Taking a long approach and they're not gonna sell on dips and volatility. They're just holding and then When like when we have eventually these apps and stuff using Their their supposed tokens for this actual platform that has a real use case Then that'll be that'll be a validator or it'll prove the model wrong So we'll know once that once these tokens start to launch like Are people actually using these tokens or or are people actually just gonna only invest in them Just for speculative reasons to increase their portfolio value Only time will tell man only time will tell But there are so many like there are so many projects that It would be awesome if they had a more widely distributed Token base right like yeah, I like civic what civic did but what I think civic should do is actually They're a KYC Entity right like they're they're basically putting identities on a blockchain. So why don't they get every person to get on Civic and use some kind of biometric marker or something that can't be easily spoofed buy it to a SIM card or something like that so that Every person with a cell phone can just take a picture of themselves and then allow them to track where they're going or Whatever it's kind of scary standing but something that identifies a person and Then give them a token and then that's like or 200 tokens or whatever and then use like a second cryptocurrency or something Just to give out to everybody then you'll have every Then you'll have like a really super widely equally distributed coin that You won't have all these big whales that have we know a whole a whole Million coin block or something just sitting around waiting for to go to $100,000 so they can be the richest person in the world you'll have Everybody having some of this network and then the value of the network is based on who's using it And how much any time I tell maybe a maybe someone will create that maybe it will be you bro When you go create it. No, man. I'm too busy trading and buying ICOs. I can't do that. Sorry All right. All right, man. We're gonna wrap it up here. I gotta head out my buddy's waiting for me in another room Brad like always. Thank you, bro. If somebody wants to talk to you Yeah, I'm all at Brad Mills can on Twitter All right, cool. All right. I do actually add your Twitter below this. All right, Brad. Peace. Thanks, man