 Welcome to another exciting episode of Hibachi Tech, I've got my good old buddy, Andrew the security guy. So, I haven't seen you in dog's age. How long has it been? It's been a while. Did I miss a lot? I miss a few. I don't remember. I don't remember. I'm here now. But it's been a while. He really is in the house. How cool is that? Oh, your red shirt is very nice. So anyway, it's great to have you here. Thank you. We don't have a guest today because we were going to... Did you tell him I'd be here? That would happen. That was it. Yeah, yeah. And we filled the whole place. We filled the whole thing. Sorry. So, we're going to do a cryptocurrency update kind of blockchain update. Yeah, what's blowing up. Which is going through the industry. So, please grab yourself a chair. Grab yourself a libation. Sit down and join us for another exciting episode of... We didn't get anything. Man. I mean, we short-sheathed. Well, we've been tanked in the past weeks. We've been tanked. I still only had 12 bucks. I think I still had money left. Yeah, yeah. I don't think you tanked. Tanked. I think you were like... About 30%. It had its moments, to say at least. So, cryptocurrency is in blockchain. Lots of discussion. I've been in meetings all week discussing blockchain. Not so much the cryptocurrency side, but the blockchain side and how it's going to be changing industries like healthcare. Possible insurance. Identity for us. Identity for you guys. Anything transaction-based. Anything transaction-based. So, yeah, when people start thinking, this is really... This is... Remember Netscape? Wait, do you remember Netscape? Are you that young? I remember Netscape. Okay, you remember Netscape. I didn't know if I wanted to admit it or not. I paused for a second. Anyway, so, when Netscape first came out, I remember sitting with a bunch of people and companies that I was doing consulting work for. I said, this is going to be the next new wave of how you do business. The internet is going to change the way you do business. And I can tell you that between 80 to 90%, 80 to 100% said, nah. Ah, Gordo's crazy. He doesn't know what he's talking about. I'm talking about... Why would I use the internet to do business? Yeah, why would I use the internet to do business? And so, here we are. So, look at 1997 versus where we are today. Yeah, and then I say it was Yahoo. When everybody's there starting to say, oh, wow, this is going to be something. Well, you've got mail. This is going to be something. You've got mail. And then next thing you know, you've got Amazon, who was trying to sell books, and then turned into a massive retailer. Yeah. Massive? Like massive? Like massive everything. Massive everything. So, move on for bankruptcy just the other day there. Who? Teroceros. Toys R Us. Oh, yeah, I saw that. Toys R Us. It's a shame for the brick and mortar. They have a $5 billion, with a B, long-term debt, they've got to take care of. And we just follow up with chapter 11. I'm not, I don't know this stuff, but I'm looking like... You think you've got to start selling their stuff on Amazon, or anything? It would be. I mean, Amazon is bad and everything is happening. I remember in the mid-90s, you know, everybody was trying to sell products. Yeah. And we actually did some service, we didn't do the sale of the internet, but people found us on the internet, people from the mainland actually, and contracted services from across, sold some services in 1998, via the internet. Via the internet. So, you were a pioneer? I was lucky. Well, that's the guys I remember, right? Yeah. Yeah, I can't remember this. Yeah, you remember that? I remember that. I mean, amazingly. So, you pick up a client in Hawaii? Yeah, I'm here, because we knew what they needed to do. Yeah, I talked to a couple of people, and I was like, dude, this is it. So, look at what we do now. I mean, we apply for jobs online. Who goes down and spreads online somewhere? I mean, it's online, you fill out a PDF form, you do everything, we check your ID, we look at your Facebook accounts, your LinkedIn accounts, your Instagram accounts. Is that still legal? Oh, yeah, we certainly do. I was kicking off my top memory last week. I did this little bid at the start. I think I might have heard it somewhere, but I told everybody, I said, like, you remember, back in those days, you know, 20 years ago, you know, when Yahoo was ruined, and the thing was, you don't want to actually, you know, you want to trust people on the Internet, right? Yeah, right. And then also, like, and we used to tell everybody, you know, you don't ever get in a car with anybody, right? But what do we do today? Today, you use the Internet to call a stranger to bring their car. So, let's restate that. Let's restate that. Your mom and dad told you, don't get into a car with a stranger, right? Yeah. Now, we pick up our mobile phone to call someone, to get in a car with a stranger. Yeah. In their car. In their car. So, that's it. Because it's security, right? Yeah. You know, we do that, but there's no, there's no more security than it was then. Correct. So, that was kind of how I- And this is the part where blockchain could come into play. We talked about this identity. Oh, yeah. So, knowing- Yeah. So, Mike, you know, the Better Business Bureau, we've heard about the BBB. Mm-hmm. So, here's one of my kind of, like, visions of the future, is that if you are a blockchain-authenticated Uber driver, or a blockchain-authenticated Uber passenger, Yeah. or any after whoever, when I go and sign on, with my authenticated blockchain ID. Mm-hmm. But when I get picked up, I know I'm getting picked up by the right person. Yeah. Who I can trust. The transaction. And then the transactions, and then also- Yeah. And then also they know that I'm someone who- And really, it's really when you give the referral, so it's not like fake news. Yeah. You know, when you give the five-star, a million people agree that GORO gave that guy this review. And that would be where the BAT token comes into play. So, there's a new cryptocurrency. A BAT token. A BAT token that's out there. It's a new one that will authenticate and verify that what's being said in advertising is true. Okay. So, I mean, so- Wow. I like it. They're using that blockchain for that. I like it already, too. So, there's all of this stuff happening and so on. So, let's talk about some of the stuff that's gone on this past couple of weeks. Some of which has really peed me off, but I'm just going to sit here. And I shouldn't complain- Are you going to be a rat? No. Well, I'm sure you're a rat. This is all a rat. So, anyway, I like it. So, J.P. Morgan, J.P. Damon. Sorry, J.P. I killed him. J.P. Morgan, the CEO, Jamie Timon, called Bitcoin a fraud. I saw that. So, he saw that. So, he calls it a fraud. And so, Bitcoin, at that point in time, was hovering around 4,600 bucks. Okay. Pushing to 5,000. Yeah. On the way up. In the course of- after him stating that the cryptocurrency value is tanked. Like, tanked. They went from, like, 49, 48 to 28. Is that from people cashing them in though? Converting them to cash. Could be, because he said it was a fraud. Yeah. No. What got really interesting is that a European news outlet who track cryptocurrency laughs made this huge year-old purchase, three million year purchase of Bitcoin. Bitcoin. Probably about it, graduates. Wait, wait, wait. I'm going to back up. Now, Jamie Morgan, CEO, said that he would fire his people for being so stupid. If they traded into bitcoin. If they traded into bitcoin. All right. What is the word? Not trading, it's advised or... Or bought. Or feud, what do they do? What do they speculate? Yeah. So I'm just picking up was on the news so within within a very short period of time Three million euros, which is about three point six million US dollars. Okay? The bid claim was purchased Guess who bought them take a wild guess the guy JP Morgan the firm of the guy the firm Well, you think he fired whoever bought them So do you think you just want to drive the market down? Because it's a man regulated industry That's what I tell everybody is like if you want to get into this is not for the faint of heart If you want to get into this industry just like when you in the internet I'll take them on my first internet stock that I lost everything on not everything on a bunch of money on but This is not for the faint of heart. Sure. So we'll go back my first thing is that so when internet first I would escape and so on Disney started a separate stock offering for internet product and services Right for the Disney line of the Disney line It was it was moving. We didn't even know it was I jumped in like crazy. I bought my grandkids stock and it everything Long as Disney Disney. I can't go on as well. Yes, but it tanked. Okay, God Nice doctor to me gets a dime. It isn't worth it. They can die, but it's adult That's why I said don't listen to me. Yeah, I'm still doing this show for free Morgan from JP Morgan turns around does this at tanks and then they buy it for me, but who did I mean really did What was the deal? That's it. You don't know. Well, I mean, that's ugly. I mean, you're leaving this hanging here So the next report we're gonna Continue to track it. It's Bitcoin. We have to know who bought it Who bought it well is either him personally or a guy that he or girl he fired because they said they were stupid Yeah, so I'm saying before or after right, you know, I mean Because if you want it when the purchase was I've read I guess it's news that I picked up one of the news. I've read it was after he had doubts that it was a fraud Yeah, and so it makes you because sometimes it takes a lot of for the transaction to record I'm realizing in crypto currency world, man. I tell you this is not banking My eyes went really quick when we did our transaction, but I mean would one that same size Oh, yeah, you just as quick. Yeah, okay So the mind because the miners won't get paid to record the transaction Speaking of miners you just move into our next thing See so the other things makes this ball so it's a natural segue. You are almost as if we rehearsed this So China China's a bit clean crackdown, right? So so but I heard India might make it the first national currency Yeah, so China's on the crack down. China's on the crack down because we have this communist country So they're battling things out. So and I'm gonna talk about really a minute, but but China China Has issued and said that no ICO so initial core offerings like a what emanate from Do you have a stock market? They have like a stock market. I guess Whatever it is called the imperial market. I'm sure. Yeah, the So they said no ICOs now there's two significant Bitcoin exchanges in China When it's called I'm gonna make sure I get them right They are oh gosh, it's called. I'm sorry for not knowing us off the top of my head Okay, and who will be I didn't put that down there, but okay So okay cool is a very popular exchange, okay Who will be who will be who will be whoever you pronounce it? I don't know that much about but I know what okay coin, but they China has said as of the end of October those two Exchanges, but those are the two largest ones in China must shut down So so now there's three pieces to this present as X people are moving wealth out of China because China's banking systems is concerned about what it will do to Corrupt or not corrupt destabilize destabilize that thank you destabilize low banking systems Yeah, you won you won or won won how many Have you watched this show take it the red is where we don't know What's one hilarious you want? I want no one Korean I Don't want was from Mexico That's a different one. That's poppy jeweler. Who grows this okay? Bizarre You got to shut down the exchanges What's up in limbo the number one mining country for Bitcoin in the world is North Korea China's electric bill as I read in the journals and everything their electric bill per day to mine Bitcoin is $36,000 come on electric bill because they're the number one Bitcoin well, there's no indication whatsoever that they're going to shut down Mining because it's government control Well, and it I mean it's kind of smart That's that's sort of the money piece of it if if it's gonna go berserk and there's gonna say there's a billion transactions a day And there's gonna be 50 billion a day then there's money to be made in every transaction There's money to be maybe that's a smart and that's the smart move So they and they're making they can play within that within the government space on what they're doing within the crypto Okay, if they do enough of it they control the distributed ledger Well, that's the beauty of it. They cannot control a bunch of it They could control a portion of the distributed ledger But again the beauty of the distributed ledger is it authenticates all transactions and if someone tries to do But if what if there's 80 million transactions in in China and 20 million around the rest of the world doesn't matter 20 million have to agree that gotta agree There's no manipulating the ledger. There's no way you can mess around with the ledger That's the beauty of it. Yeah, because I love the transparency I mean, I think the transparency piece is good the prices the price per transaction cannot be beaten This is the value it brings to transactions. Okay, so we're gonna take a break I mean we I was hoping we'd have enough to talk about on this stuff But I guess maybe show she be on crypto currencies and Bitcoin and blockchain Anyway, going to take our end of the security eye. We'll be back in a minute and we'll pick up where we left off And I think we got Angus with a gadget nice This is think tech Hawaii raising public awareness I just walked by and I said what's happening guys? They told me they were making music Ted Rawson here folks you're host on where the drone leads our weekly show at noon on thursdays here on think deck When we talk about drones anything you to do about drones drones remotely piloted aircraft unmanned air christmas Whatever you want to call them emerging into Hawaii's economy educational framework and our public life We talk about things associated with the use the misuse technology Engineering legislation with the local experts as well as people from across the country Please join us noon on thursdays and catch the latest on what's taking place in the world of drones That might affect you And welcome back to hit think tech Hawaii. This is hibachi talk And we got angus in here off the beach and I think he's still shading his eyes angus. What's up, buddy? I can see you but I can see I remember when you just in the google glass man Oh It's awesome. It's awesome. It's like going to the beach and not even going. Yeah, sometimes I got we've got seasick on it But it's pretty good. It's like awesome. Oh, wait elevator. Ah, perfect. It's awesome You know, don't get the expensive ones like I get you can go get that ones from uh google for like 99 cents Okay, and amazon for prime for free 99 shipping. Okay That is pretty damn good. You know, you almost agree. Oh Are you watching? We just lose angus man back to the Zircon VR if you turn into him out there in virtual reality, send him home Oh God anyway, I was angus It's a virtual reality glasses Well speaking of virtual reality, let's come back to cryptocurrencies and block Virtual could be virtual reality. So, you know some some things so we were talking about earlier about china and what they've done So so a couple things that a couple things that have come out in the in the news and the in the articles that I've been reading is that you know, they said that with China getting out of the It's sort of out of the business for now and no one knows what they're going to do There's a lot of transactions happen. So there's you know and in cryptocurrencies like bitcoin Their value is based on transactions to keep on the supply and demand supply and demand So there may be a huge drop in the number of transactions that happen as a result of china getting everybody out no one No one within their country. No one really knows but it's going to be interesting for you to see But what's kind of interesting is that others other countries are being looked at as possible They'll just pick up the slack like japan 300 000 retailers by the end of the year will be taking bitcoin in japan So yeah, so again, so they're a very open society Um, they think they think uh, north korea, which is interesting north korea and russia will pick up We'll do some heavy pushing in the mining side, which might make it more challenging for china So and I wonder if they're investing right? It's an interesting way for them to accumulate wealth when we're Putting embargoes on them and we're doing trying to trade restrictions And so they can they can accumulate virtual wealth and then cash it out. Maybe Or buy weapons or whatever does they need to buy? Yeah Yeah, but but but you think about so this is you're bringing up an excellent point. It's like you're sitting on this this Currency and china said that they said they're concerned that will destabilize their banking system Uh, duh, it's going to destabilize all banking The global bank the global banking system I mean, I've been meeting with banks for the past couple of weeks talking about you know What where this might come into play the block not bitcoin or the theory or whatever the blockchain itself or it may come into May I've been talking with insurance companies about where it's going to health care providers Where this will come to play. I mean, we don't know. I mean, we just don't know at this point in time But when ibm puts a billion dollars into it With their 3m 3m Microsoft oh, yeah All the big you start going down the list you start you start looking Oh, like I just go back and I look at nescape and I look what happened there And then where we are today with the with the guy the the disruptors sure and this is a disruptor um big Big time. Um, we we have evidence that central repository Are a bad idea from a security perspective. I go back and got to get rid of those I I go back and I say and I don't know for sure But my my standard comment is I got to believe that bernie made off never would have gotten away with what he did If he was required to use blockchain technology because it was a Ponzi scheme. Sure, but it would have been apparent Yeah, yeah, he did not have the money to buy the next transaction. Right. That's what it says It's like I can't I can't give you a thousand bitcoin and and Ray a thousand bitcoin because the transaction has to be authenticated and verified and it's done in seconds Yep, or like and so that that's what happens. So all of that that piece is going on now Um, the wall street journal said it's gonna go away. So it's not it's what's gonna go away blockchain Block bitcoin will go the critical currencies will go away. That's what went away, but I I don't think so I think I think it's already too embedded too enmeshed in too many things But why would why would it go away? So here so here's that here's and this is and this is why do they say that? this becomes a balancing act right so Do I want to go tomorrow and buy a star box which I can With a bitcoin or it's a portion of a bitcoin, right? I could but that portion of a bitcoin could turn into a 20,000 dollar Coffee if the price of bitcoin goes up. Sure. So that could happen with your dollar bill Well, the dollar bill is because it's fiat that a you know, when's the u.s. Currency going to go up 600 percent Well, I mean the value that yeah, it ain't going to happen I mean this is where I mean if you I guess if you're buying a cup of coffee or buying a bar of gold or buying a stop Right. Yeah, but you're buying a bar of gold that dollars are still speculative dollars dollars or dollars So but I'm thinking so people if people start holding this for the long term Then there's no transactions happening So then when there's no transactions, then it causes to start to The value the value just starts to go it starts to go down and then you get the traders coming in who are playing it back and forth So it's it's just a fascinating Industry to watch and there's so many different Touchpoints in it that make it even more fascinating. So and like I keep saying there I'm not giving anyone advice on what you should do with your money. It's your money and you decide what to do And this is not for the block chains here to stay Yeah, I think the blockchain technology is the equivalent of when the internet aka nat net scape AOL first got into it and then it has evolved over the decade and you have to think that if blockchain If blockchain is going to begin to anchor transactions, then That I personally I just believe that validates cryptocurrency. Yeah And so I mean, so I don't I don't see why they wouldn't be useful and what what form they'll have a decade from now the form may be a bit different but Uh, you know as far as like the the way it's regulated like you're talking about sort of self-regulated It's self-regulated right transaction base drives value by other things like that, but My read on blockchain is every every heavy hitter That knows anything about anything and has available funding Is figuring out ways to back up transactional Relationships with blockchain whether it be I sort of get rid of the database. Yeah, it is this the single database The central database and and mining your database and all of this when you know, you're gonna you're gonna mine the blockchain Yeah, and the world did go back. I mean, you remember when you remember the as for you remember the green screens All right, we had we had that day of Of uh, I remember the main frame with like you with uh consoles Yep, I did and then everything went to the pc and now there's you know with virtualization Also, there's kind of a bit of pushback so we could see this do that In so now I can stand up a server and I can stand up a server in a matter of seconds And I'm gonna we're gonna do a show in in the near future on this Um Application layer called blue blue mix nice. I'm not gonna tell you who it's from but Um, it's a awesome awesome awesome product that um, and I'm just getting myself into it So I'm you know, I'm not I can't talk in any degree of intelligence on it Like I cannot talk to a lot of degree of intelligence on blockchain and cryptocurrencies I can just tell you what I read and what I follow and those kinds of things So a couple of other things blockchain junkie now. I am a blockchain junkie. Yeah, bitcoin So you were a bitcoin junkie. Yeah blockchain. So bitcoin accepted by google payment api now. So Google payment has an api My um, uh quick books now Has an api in it. So my clients can pay me with bitcoin. Are you accepting bitcoin? I am accepting bitcoin Um, how many have I received none, but that's okay. Um, well here, I mean, I'll give a discount There's there's still no exchange in hawaii though There is no bitcoin exchange in hawaii, but well, but you can just go offshore Yeah, I can go to kraken or um, so that's what you have to do There's a number of them. I can go to bank orto for services coin. I'll give you a discount Yeah, there you go. So I give you this guy you there So but it looks good on the bill when the invoice comes in it says um Credit card or it says bitcoin credit card. Send me a check Well, I always get this one the check because the credit card is 2.5 So this is you know, this is the one I like to check but I like the bitcoin better. Um, so that's good So speaking of taking it so there's a new york, um diamond retailer one of the most premier diamond retailers in the country They're um, semmer helmet Helmet is the name of the organization. They announced last week. They're going to start accepting bitcoin Um as a form of payment for diamonds Wow, so if you want to buy diamonds for your honey You can think about imagine imagine just tracking diamond transactions because there there's a lot of fraud in that In there are a lot of so believe it or not in the blockchain industry Guess what there does they're developing a blockchain Um application that's going to talk track the diamond from mining See to its production and all the way through to itself. It's already going on right now They probably need that in the marijuana industry like for track seed to stem all that. I mean all Also, also underway this is being that and it's called pot queen. So that's got So that's one that that's means so that one walmart walmart is using blockchain Seed to feed to track all their food products that they get whether it be for your cat Or for you and I that walmart is going to do it for all of that not not only have but even the distribution factor of it Also, so you know walmart is putting a bunch of money in there. That's awesome So it's interesting. So when the guys out of new york said that they're going to take, um, Bitcoin they're going to use bit pay. Oh Look at that. Look at that Gordo has one. I have my little bit pay card here. This is my bit pay card. Let me see the number And so when you and when you I can use this to buy things with you pay with bitcoin But the transaction comes it's converted to cash out of your bank. Yeah, how's that? How's that pretty cool? Yeah, and it's track. That's right. No doubt about it. No doubt about it And then so um expedia, which is another one i'm going to add to the list So they are now want to get into the international, um travel industry So they're they even know they weren't actually yeah, they were yeah They were they want to go like huge big time into it. They've announced that they're now going to start accepting bitcoin In the international travel aspects of it. So I mean the whole thing is just um Are they just does that any kind of like theorem did some do some except only certain types? Yeah, so they said bitcoin now I see now the interesting thing is thing is you brought up the theorem the founder of the theorem and uh, Vitalik Buterin Um, he's the creator of the ethereum blockchain. Okay get a blockchain. He said that by 2027 that blockchain Cryptocurrencies could replace mastercard and visa Think about this That's that that's only 10 years away So mastercard and visa brother. That's a disruptor and and let's talk about disruptors. It's the fees, right? The fees two and a half percent do it for what for less than half a point. Oh, oh, oh, oh, yeah, whatever So he's his and again, he's the the creator of ethereum He's you know, he's you know, he's obviously got a bias towards one way. Sure, but um, I don't care what anyone says I mean When you're when you're that involved in what's going on and he said they've got upgrades to ethereum That are going to be happening over the next number of years They're really going to change the way a lot of things are going to be happening And if if you can take an industry that's made its living off of a transaction fee and you can reduce that fee 90% Yeah, that's massive. Yeah, it's not it's not five percent cheaper. It's 90 well I'm talking to a couple of restaurants downtown that are looking at Going to use and start accepting bitcoin as a form of transaction. Awesome. We just got to work out the details Thank you the irs and everybody else, but we've got some ideas on how to do it Guess what what we burned through the show again. Come on. Yep done. I didn't learn enough Well, I didn't say you're the brightest star in this I might be slow sometimes to absorb. Anyway, gordo the tech star Virtual visionary. I'm being called now virtual visionary. So thank us. So thank you. It's all what we saw today gadgets, right And to the security guy who's traveling the world over the next number of months lecturing about I'll be here. I'll be back when I can brother. You need your own. You know, I like to be you need your own show I can barely keep up with this one. That's true and your other ones. So and your spin up Anyway, I want to thank you guys for joining us. We're going to try and do I think every month We decided we're going to do a blockchain cryptocurrency kind of update again. We're non-technical. So we look at it from a very All over the page view. Yeah, and I think it's kind of neat kind of fun Um, and like we say at the end every show one two three How you doing?