 And basically, I think I want to bring us back to a little bit of the philosophy why I think most or just about all of us are probably here. And I think Brian Armstrong, actually, the CEO of Coinbase, summed it up very, very well with the quote right here. And he talks about how digital currency will change the world. And he says that digital currency may be the most effective way the world has ever seen to increase economic freedom. If this happened, the implications are profound. It could lift many countries out of poverty, improve the lives of billions of people, and accelerate the pace of innovation around the world. And I want to take special emphasis on digital currencies. And we've heard a lot of other people that were involved with something that used to be a digital currency, mocked the idea of using it as a currency. But I think the people in this room are pretty excited about digital currencies, not digital stores of value that don't work very well as a store of value if they're not usable as a currency. And so let's talk a little bit about what economic freedom is, right? Economic freedom is a measure of how easy it is for members of a society to participate in the economy. Has a number of factors such as how easy it is to start a business. Can I see here, with a show of hands, how many people have started a big business based on cryptocurrencies, right? That's 80% of the room has their hand up. Who here has been paid for doing some sort of a business of some sort in cryptocurrencies? I think that's everybody here. And boy, does that make it easy. So actually, I'll tell you a little bit of a story. There was a little bit of a snag with actually paying for the venue because a traditional bank account closed the bank account that was going to be used to pay for the venue. I tried my best to get them to accept Bitcoin cash this afternoon. I succeeded in getting them to accept a personal wallet with a little tip that I think that he's gonna buy some cookies with later. But I think next year when we have the next Satoshi Vision Conference, we'll be able to pay for the entire venue in Bitcoin cash. And we might not even necessarily have a business license for it. And once again, property rights being enforced. A favorite quote that's been floating around in Bitcoin and cryptocurrency ecosystem for a while is that no amount of violence can solve a math problem. And that's kind of just a fancy way of saying that property rights are secure when it comes to Bitcoin because if you own the private keys, you own the Bitcoin, just like that. And when I say Bitcoin, of course, I'm referring to the digital currency, Bitcoin Cash. And let's talk about free trade with people in other nations. Who here had to travel from a different nation to Japan for this conference? Probably 95% of the people in this room. So thank you all for coming from around the world. Who here paid for their travel in a cryptocurrency? That's a good chunk of the room there too. Who used a credit card that's paid with digital currency? So there's another good chunk of the room there. And again, regulation of labor and business, right? I've already set up a couple of people that weren't here for the conference that are working for the building. I set them up with Bitcoin Cash wallets today, right? And when I did that, I told them that their eyes got big. I said, you didn't give your name, you didn't give your email, you didn't give your tax ID number. You didn't apply for some sort of business permission slip to do it. And against the ability of the currency, it's very important when it comes to economic freedom as well. So all these things, Bitcoin helps improve. And here's a really interesting chart. We have a list of the countries that have the most economic freedom around the world. And the ones with the least economic freedom around the world. And if you look at the ones with more economic freedom, we have places like Hong Kong, Singapore, New Zealand, Switzerland, Australia, Canada, on and on. They all sound like pretty nice places to live. And the countries with the least amount of economic freedom are North Korea, Cuba, Venezuela, Zimbabwe, and on and on, and a bunch of places that probably aren't nearly as pleasant to live as the places with more economic freedom. And we have some photos here. You can see the difference of Hong Kong from then to now and Cuba from then to now. And it's pretty apparent, right? And these are two little islands with just two different levels of economic freedom there. And so that leads us to why economic freedom is important. It leads to a higher per capita income, a higher life expectancy. Who here wants to live longer? One of the very best tools we have to make that happen is economic freedom. Who here likes to read, or at least likes to know how to read? Economic freedom helps with that as well. Who here wants to see the poorest 10% around the world have a higher standard of living? Economic freedom helps that, too. Who wants to have clean air and water, right? Everybody likes that. Economic freedom helps that, too. Who wants to see lower amounts of wars and conflicts around the world, right? Economic freedom helps that, too. Who wants to be happy, right? Put both hands up if you want to be happy. People in countries with more economic freedom are happier as well. And of course, nobody likes corruption or bribery either. And so here's some actual statistics, right? Where you have the income level of the poorest 10% around the world. The dark green bar there are the most economically free countries. And the red bar, and in order from dark green to red, it's so apparent. The more economically free a country is, the higher the income level of the poorest 10% of that country are. And again, per capita income, the more economic freedom a country has, the more income per capita. In adult literacy, the more economic freedom a country has, the more people know how to read. Life expectancy, the more economic freedom a country has, the longer people live. Unemployment, right? The more economic freedom a country has, the lower the rate of unemployment in that country. Who loves babies? Right? The more economic freedom a country has, the lower the rate of infant mortality. So if you want to see fewer babies die at childbirth, you should be supporting economic freedom. So if you hate babies, support the state. And if you hate babies, support economic intervention by the state. And if you love babies, support free trade and economic freedom. And again, the same is true when it comes to child labor and kids working in the workforce. The more economic freedom a country has, the lower the amount of kids working in the workforce is. And it's not because a bunch of laws were passed, it's because they're able to afford not to work. And it's correlation doesn't prove causation, but you see example and example after country after country and society after society around the world, you can draw some really, really strong inferences between those things. One fantastic example that a history teacher I had in high school had is he had a picture of, said East Germany and West Germany. So you have the same ethnic culture, basically the same geography, same natural resources, just two different forms of government. And in West Germany, you had them producing porches and Mercedes and BMWs and lots of wonderful things and people had a relatively high standard of living because they had more economic freedom. And in East Germany where they had less economic freedom about the only thing they were able to produce over there was a great big giant wall to prevent people from escaping because things were so bad there. And you have example after example of that around the world. So let's talk about bitcoins, economic, the impact on economic freedom, right? It makes it easier to start a business, it enforces property rights, it promotes free trade, it enables freedom of contract, it enables people to opt out of corrupt systems, it enables all of these benefits of economic freedom that raise the standards of livings of everybody all over the planet. And so again, I'll quote Brian Armstrong, the CEO of Coinbase, one of the biggest cryptocurrency businesses in the entire world at this point. And again, all these slides that I just showed are actually taken from a blog post by Brian Armstrong. So full credit to Brian for that. I think he has his head in the right place by that. And Brian says, if we can create more economic freedom in the world it will serve as a giant economic stimulus package for the world, accelerate innovation, reduce wars, make the poorest 10% better off, overthrow corrupt governments and raise happiness. And I say bitcoin and digital currencies are the best tools the world has ever seen to accomplish these goals. So that brings us to the next question. If you were a government, how would you stop all of this from happening? Because if you look around the world that's what governments do is they encroach upon the economic freedom of the people. They retard the rate of economic growth around the world and they reduce the standard of living that people have around the world. So here's how I think that it could be done. And I'm not saying that they did this out of malice. Maybe it was just ignorance. But if you stop and think for a moment, if you wanted to stop or delay all of the benefits that are brought by economic freedom around the world that are brought by bitcoin and digital currencies, how would you do it? Well, I think you would advocate for one megabyte blocks to intentionally create high fees, less privacy, slow confirmations and unreliable transactions. And that would end up resulting in fewer users, fewer nodes, lower adoption, less privacy, a lower bitcoin market cap, a lower bitcoin market share, and less censorship resistance. And we can see bitcoin cores market share in the last year and this is about a month out of date though, but in the last year it went from about 85% to about 45% today in just one year. That's how much market share it lost. And we saw it happen. I think just about everybody in this room is aware that people were worried about the blocks becoming full and when the blocks became full, altcoins started getting all sorts of adoption around the world and bitcoin's market share plummeted. We have a clear graph here showing that happened. And we can see that there was directly some correlation there between bitcoin losing market share and altcoins gaining market share and that happened at the exact time that the blocks became full, causing all these negative effects on bitcoin. And we can see the delayed adoption around the world. Bitcoin was clearly growing and more and more people were using it around the world and more and more transactions were happening around the world until we hit that block size limit which caused the transactions to be slow, expensive and unreliable and delayed adoption of bitcoin around the world. So that brings us to what has the market done to solve this problem. Here's where we are today. The market has moved to altcoins. I think our favorite altcoin in this room is probably bitcoin cash because it stays true to the spirit of bitcoin that most of us got involved with in the first place. But there's a thousand and one competitors out there. So if we want bitcoin cash to be the winner, we have to make it the most useful of digital currency out there in the world which means fast, cheap, reliable transactions for everybody, permissionless innovation, censorship resistance, private transactions, all of these things need to be built. And again, I'm not saying that blockstream and core are intentionally a government attack on the adoption of cryptocurrencies around the world but if you stop and think about it, I can't really think of a more effective way to do it. They literally shattered what used to be this unified bitcoin ecosystem. They've now shattered it into a thousand and one altcoins around the world in fighting within the communities and people competing on this and that and all sorts of hostility. And they did it through primarily censorship and propaganda and lies. If you're in favor of a censorship resistant currency for the entire world to use to gain more economic freedom, you shouldn't be using censorship to promote it. And that's exactly what the bitcoin core supporters have been doing, which should be condemned by anybody who supports free speech. And again, that's why I'm here, supporting bitcoin cash before you because I want to use it to bring more economic freedom to the world. And whatever tool does it, I'm on board with that. I think bitcoin cash has the biggest chance of doing that because it has the bitcoin name. It has almost all the early adopters of bitcoin, all the people that made bitcoin useful as currency around the world are supporting it. It has the most stuff going on. And if you are excited about that and agree with that, tell your friends, set them up with a bitcoin wallet, tell them about bitcoin.com. I have an announcement I guess I'll make here that I've told just a few people in private, but in the next update to the bitcoin.com wallet coming very, very soon, we will be dropping bitcoin core wallet creation by default. And it will only be making bitcoin cash wallets by default. And if you're a bitcoin core supporter and upset by that, stop and ask yourself, well, if bitcoin core is just supposed to be digital gold and a store of value that you don't transact with, why the heck would you need a wallet on your phone? Bitcoin cash is to be used for buying digital beanie babies and physical beanie babies. And there's some lovely young ladies right out this door selling cookies for bitcoin cash. And so I implore you all to use bitcoin cash as cash anytime you possibly have the opportunity. Tell your friends, tell your family, tell businesses that you patronize often, tell them to start accepting bitcoin cash. There's lots of fantastic options now. We have coin base, we have bit pay, we have more and more options around the world to allow businesses to easily accept bitcoin cash as payment. So I feel like I've given this speech and helped with this once before several years ago, but I'm not old yet. I'm gonna do it again. We're gonna do it with bitcoin cash. It's gonna become the currency of the entire world for everyone to use worldwide. But I need all of your help to do it. But the fact that all of you have traveled from around the world to be here today shows that you're excited by that too and that you're willing to do that. So let's all go spread the word. When you go back home to wherever country you came from or wherever you're going next, tell your friends, tell your family, set them up with bitcoin cash wallets, right? On their bitcoin.com wallet. Tell them don't even worry about bitcoin core. That's just a digital beanie baby thing that's going in the wrong direction. And it's a little bit frustrating. I'm sure all of us feel frustrated by that. But at the end of the day, we can wish them all good luck. We can be upset that they've tried to steal the bitcoin brand name, but anybody that's been in bitcoin for any amount of time realizes that bitcoin cash is the real bitcoin. And if they want to build some sort of fancy settlement layer, we can wish them good luck. But that's not what's described in the bitcoin white paper. And if it's not described in the bitcoin white paper, then it's not bitcoin. Bitcoin cash is bitcoin. And today there's some metrics where maybe bitcoin cash doesn't have as much of a claim to bitcoin as bitcoin core. But there's probably seven or eight metrics out there. And I think bitcoin cash has the majority of those metrics on its side. And if you're a miner, start mining bitcoin cash. If your user start using it, just tell your friends, tell everybody. I got a little bit too excited and went through my slide so fast. So it looks like I have about 10 minutes for questions though. I'm more than happy to answer them because what an exciting thing to do. So I guess we have such a wonderful MC. I'll open it up to you to find some questions. I noticed earlier a question or two was actually decided to be off topic earlier for an earlier speaker. I'm happy to answer any question about any topic at all. So I'll get that right out here. And even if it's about something called Bcash, I'm not really sure what that is. So maybe I won't be answering questions about that. But anything else is on topic. Well played. All right. Thank you, Roger. Let's give Roger one more hand of applause for that awesome presentation. Thank you. All right, as always, the rules of the road. Let us ask a question that is worthy of the speaker. Do we have a question? You implied that governments may have sought to disrupt Bitcoin becoming a global currency in the past. If that's true, it seems logical that they would continue to do that now. How do you think they would continue to do that in our community? So to put on my conspiracy theory hat again, one of the tactics that's used very commonly to disrupt movements is to try and splinter those movements into different competing factions or warring factions. And unfortunately, we saw that happen with cryptocurrencies. All these businesses used to be called Bitcoin businesses and Bitcoin exchanges. And now they're not called that any longer. They're called cryptocurrency exchanges and crypto coin businesses. And crypto this and crypto that. It's not just Bitcoin anymore. So they've succeeded on that front. And there's quite a few anonymous figures that seem to be really doing a good job of stirring up trouble and causing fractures in fighting. One of which who I will name by name very clearly is Cobra. I don't know exactly who this person is or where he is, but recently he's been saying some things that are much more in line with Bitcoin Cash in support of Bitcoin Cash. But now seems a strange time to do it, right? We've already had this split. He could have been advocating for stuff that makes sense before the split. And the part that really makes me go, is he's advocating for a proof of work change on Bitcoin Core at this point. And that's a guaranteed way to split Bitcoin Core again. So then you'd have two different competing warring factions of Bitcoin Core. And so if you were a government agent wanting to disrupt Bitcoin Core even more, that seems like the most effective way to do it. And you can hide the fact that you're actually up to these things. So I don't have any evidence that he's some sort of government sabotage here. But it sure, so thank you. My English has faded a little bit. For those of you that don't know, I've been living in Japan as home base for about 12 years now. And sometimes I'll type up an email and I'll read what I just wrote. And I think there is no way a native English speaker just typed that. So thank you for the English help there. But it seems awfully suspicious there and there's a lot of it going on. And then the censorship going on and the all sorts of attacks from sock puppets. And another strategy too, if you read the CIA handbook on disrupting movements is they say always accuse your opponent of doing the thing that you're doing. So you see them accusing me all the time of paying for all sorts of sock puppets and things like that. I've never, ever, ever done anything like that ever. But somebody certainly has been paying for sock puppets supporting Bitcoin Core stuff. They've been caught red handed doing it. We don't know if it's Bitcoin Core supporters paying for Bitcoin Core support via sock puppets. Or perhaps it's Bitcoin cash supporters paying for sock puppets to support Bitcoin Core as a false flag attack. We don't know. So put on double conspiracy hats there. But I'll tell you straight ahead, I've never, ever done anything like that. So it really seems strange that they accuse me of it over and over and over again. So, but at the end of the day, there's nothing, what's the saying? That there's nothing more powerful than an idea whose time has come. And they've delayed our adoption by a year or two. But this idea is coming and it's coming around the world and it's not going to be stopped. But it's our job to work quickly to make all these positive benefits that are gonna come to the world because of digital currencies and Bitcoin cash. We need to bring them to the world sooner rather than later. And I see Simon Dixon, someone with his hand up very eagerly. Maybe if someone doesn't already have the microphone, I apologize. And just for those that don't know, I'm expecting a very tough question because I know Simon's been a Bitcoin Core supporter for a while, but Simon and I have known each other for a while, so how about it, Simon? Okay, no, Roger, I feel that the strategy of optimizing for digital gold and optimizing for digital cash is a very healthy thing. And I feel that if we advocate for digital cash by saying digital gold has been disrupted, store of value has been corrupted, the end result is that people choose dollars and they say, well, that crazy crypto thing, this person's saying it's corrupted and that could happen to Bitcoin cash. And so what I'm saying is can we imagine a world of more harmony here where it's okay for one chain to optimize for digital gold and another to optimize for digital cash? And if the first thing a new person that comes to the industry sees is, this is what this chain is about, and by the way, I say the same thing at a Bitcoin Core conference as well. I've tried to remain neutral here, but I feel that a better strategy would be rather than saying this has been completely corrupted, this is a CIA, and whether that's actually happened or not, and by the way, the censorship thing is completely unforgivable. That's something that no one can support, that's not for them. But I feel that if we could return to an environment of this is trying to optimize for savings, this is trying to optimize for spending, and the two I feel are different strategies, I think we could get more adoption and less people saying that crypto stuff's crazy. So if you, thank you for the great statement. And let's get one more round of applause against censorship, right? That should be unforgivable. But if you look around the world today, the biggest store of value is the dollar. And the reason the dollar is used as a store of value is because you can spend it everywhere as cash. And if you look at the history of gold, the way gold came to be used as a store of value is because it was spendable everywhere as cash. And the same is true of digital currencies. If you want them to be usable as a store of value, they have to be spendable as cash. And I think part of the reason why there's so much animosity between the Bitcoin Core Crowd and the Bitcoin Cash Crowd is because the Bitcoin Core Crowd successfully brought the Bitcoin name for the most part with them and the original Bitcoin ecosystem with them while completely deviating from the actual title of the Bitcoin White Paper. It's a peer-to-peer electronic cash system. And yet the Bitcoin Core people are mocking the very idea of using Bitcoin as cash. And so if they want to build something that's only used as a digital store of value, that's fine, have at it. But please don't hijack and sabotage and censor our project and do it through censorship and propaganda. And that's exactly what has happened. And it's really, really frustrating as somebody who's poured the last seven years of my heart and soul into this to see it and then have these same people. And I've been promoting the exact same Bitcoin for seven years. I have the exact same speech I've been giving about Bitcoin that allows anybody anywhere in the world to send and receive any amount of money with anyone anywhere instantly, basically for free. And it's impossible for your transaction to be blocked or censored or controlled by any bank or government or corporation. That's the pitch I've been giving for seven years now. It's still completely true of Bitcoin cash. It's no longer true about Bitcoin Core. And so it's not me that's changed. It's the Bitcoin Core roadmap that's completely changed to something that's not even described in the original Bitcoin White Paper. And so I wish them good luck, but they shouldn't have taken the, they shouldn't even try to take the Bitcoin name with them because it's clearly not Bitcoin. Go and read the White Paper. It's not Bitcoin. And again, back to your point though about having separate digital cash and digital store value. I don't think those things are separate, separable. If something's usable as cash and usable as payments, by default, it becomes a store value. And that's the reason people are willing to use the dollar as a store value is because they can spend them everywhere. And if Bitcoin cash becomes spendable everywhere, people will be using it as a store value as well. Hello, Peter. Hey, Roger. Thanks for everything. So what are we gonna do about these national cryptocurrencies? These like fiat crypto hybrids? I was just at Singapore at Money 2020, now these central banker types, talking about how crypto would be a great way to force everyone into negative interest rates. What are we gonna do about these fuckers? So I'd love to thank Brian Armstrong's brother for coming. At the end of the day, if you don't like it, don't use it. That's what's so exciting about cryptocurrencies. It gives us the option to use whichever ones we like. So, and there was a heckler at a Hong Kong Bitcoin Cash Conference, I don't know, six months ago or something or recently, and he was shouting something from the audience, and I told him, I said, if you don't like it, don't use it. And it's just that simple when it comes to all of these governmental issued cryptocurrencies as well, or hybrids, it's, if you don't like it, don't use it. Now we have an option, if you don't like the dollar, don't use it. If you don't like the end, don't use it. Use whatever cryptocurrency you like in your life. And that's what cryptocurrencies are all about, is giving us choice. And choice is just another word for more economic freedom. The more choices you have, the more economic freedom you have. And the more economic freedom everybody has, the higher the standard of living all of us are going to have. So it's a great thing to have those choices. Hi, Roger. Can you briefly speak to the things that influenced your personal philosophy and how important do you think it is for people involved in the crypto scene to seek a consistent, non-contradictory philosophy? So I've called myself a libertarian for a while and I didn't start out that way at all. It was kind of by, I guess, good luck. In the summertime, between maybe seventh and eighth grade or eighth grade and freshman year in high school, my mother told me no more video games today. You have to do something else. So I went and looked on the bookshelf and I found a book called Socialism by Ludwig von Mises. And who here knows who von Mises is, all right? A lot of the room here. At the time, I had no idea who he was and I thought that this was a pro-socialism book. I didn't really even know what socialism was. I didn't know what capitalism was, but I knew Americans are supposed to be, you know, generally pro-capitalist and anti-socialist, but I figured I should at least hear the other side of the argument. So I picked up this book and started reading Socialism by Ludwig von Mises. And for anybody who hasn't read it, basically it points out how prices transmit information. And prices tell you what the screen should be made out of, what this jacket should be made out of, what every single good in the economy should be made out of. And it transmits the information from people all over the world who have never met and have never interacted or sent an email or a text message to each other, but it tells you what raw resources should be used to produce what consumer goods. And it helps allocate all of these resources around the planet for the most efficient economic outcome so we can produce the most chairs and the most event centers and the most screens and cars and computers and Raspberry Pi is to run Bitcoin Core full nodes on. And without that pricing mechanism, all of this would get messed up and we wouldn't know if we should make, you know, the seats here, we wouldn't know if we should make them out of gold or cloth or wood or anything else. And we wouldn't know these things without this pricing mechanism. And you realize that the more government meddling you have in the economy, the more it disrupts the flow of information that's made by prices. And so I became pretty much an anarcho-capitalist from studying economics. And then I remember I picked up a Murray Rothbard book later. And who here knows who Murray Rothbard is? A good chunk of the room. For those of you that aren't putting your hands up, I think I cannot emphasize strongly enough, pick up anything by Murray Rothbard and it will change your entire view of the world. And I remember again picking up a book and I just filled out the selective service thing in the United States. For those that aren't Americans, when you turn maybe 16-ish in the US, you have to register with the government so that they can draft you if there's ever a war again. And I kind of didn't like it too much, but everybody in school was doing it and everybody else had to do it. And then not too long after that, I was reading the Murray Rothbard book and he pointed out that the military draft is the moral equivalent of kidnapping and slavery. And everybody knows that kidnapping is wrong. Everybody knows that slavery is wrong, but everybody grows up being taught that the draft is a good thing if there's a war so the government can defend the country. But here's this guy pointing out that they're morally the same thing. And so I had this incredibly uneasy feeling of cognitive distance where I was scared to even hold this book in my hand because my entire world was getting turned upside down because we know kidnappers and slave masters are bad people and the government's claiming the right to kidnap and enslave us in the form of the draft. So if they're claiming the right to kidnap and enslave people, that means the government people are bad people. And my entire world view was kind of shattered at that point when I was reading Rothbard. So for me, that's why I'm so excited about Bitcoin is it gives people back complete control of their own finances. And I saw it as a tool to bring more economic freedom to the world. So study economics and study philosophy as well. It wasn't until much later I started reading much more of the moral philosophy side. And so there's I guess two different directions to come to this conclusion. You can study economics and you come to become a free market supporter or you can study moral philosophy and you come to be a free market supporter. And it's amazing just how well those two things interweave with each other to achieve the desired results. I think that's all the time I have but pick up some of your Rothbard and read that or anything, study economics, that's why I'm here. Thank you guys. Thank you.