ICYMI - Bitcoin

Thursday, December 7th

Today the guys asked the question, What is a Bitcoin? And the anwser they got.. well, we aren't sure we really found the answer. But we understand it a little better now!


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

We lost 10 AM the previous seven. I volleys and Kelly. What is what is bit con. Bitcoin. Now. I don't know how sick of seeing this thing I'd literally was. Asking you guys I didn't get a chance stock the net but. It's exploding again and everywhere I turn of people stand bitcoin betting oil get big coins are a bit at one point big hole and going death was an illicit in its its online currencies is we are having the cool it now it's like basically it's like it's beyond then Mo beyond PayPal we actually have audio from a lot currency from it's an actual county to my ears are I'm not into it now we have audio from that we have this morning it's online money yes. We have audio from my house this morning and we do we have audio from your service. Do. Picture it the power they kicked it it faults. Fantastic oh we have an update of public at my house by the way yes there's talk about it and content account. Kaka of those concerts. When somebody asks you for an online money payment in the essay paper value like I'll do it in there like no not asking you to pay pal. No compact. Welcome to a bigger car I have a villain notes and ago I have a film a lot of it was because it got really popular a few years ago and then it crashed in my 2008. And it doesn't exist doesn't exist there's nothing physical about it so you could have ten million dollars in bitcoin. But you just have a piece of paper that says you have a million dollars but tickling and do you know any physical do you use it to. Did you buy items of the decline right now you can't buy items but in its bitcoin for the thousandth time. But there are services that you can you know cash out your bitcoin so and get cash. So can I not believe right now bitcoin is I don't know I might get the strong but I believe it's up like 111000. Right now 111001. Dollars Parcells won Dick coin is worth like I think eleven he's dead it was Tenet actually have to certainly I would set at seven they wanna work in a sales office and everybody at work with today said they were doubling their money yeah I mean I know a lot of people everybody is saying they're making money but we're not making money I should they but doubling and tripling their big point. I think the problem is when you trying to get the actual needed to buy and use it to buy drugs on the dark web. Can be used for that type with one of my buddies is like an Internet expert he works and industry's call your Eleanor if you can. Well big coins at eighteen K given your success during break this down. Well well. I've been coined by no big I call IE nothing so I take a bit according to all abide dust is new rap album it or not. It's not bit Aucoin like it's not a pot O gold Boris is not a big old audio like that he'll candy bar and 175 right now. While it was connected dude who invested heavily in became billionaires coming up but a lot of people went broke too so. Yeah now if you'll read it you're rich and you invested in the crash like you are okay but there are some people lit up put up put up everything they had and then it crashed. And then they were asked not a lot. I don't I don't invest in the same things a little I don't know now big you know it bitcoin is the online version of oak island is nothing. Oh. Really. I guess there's human bones. Planted. No big news you plants iron nine feet on the program are the creator of bitcoin was suppose she's not Comodo. Yeah by Elon Musk has threatened to do that is Elon Musk denied that he uses the names that though she's not promote the measure if he did and to on the man's gotta control the world he's gonna fight. He's going to be the reason why he's building electric cars is so he can get away from Google's robot army win. Obama the eventuality counts still confused so obvious so let's enter about a prison that's happening is regularity where Paula sees say it's worth won eleven grand. 1717. I. So one bit accord is were I've been I've been since the C seven a scene like my dad. Stay as my dad used to do this thing where he would get a Boston sports athletes who run doesn't like that name wrong in any would purposely do because he knew drove me crazy. He'd always feel like a he calls me daily -- can you get me daily and see our debt that you offer wide receivers. I want coombs. Who the receiver Brady's receiver for the patriots. Cooks via coombs. And like any just loves doing it because he knows it's is being obtuse and ridiculous you are such an all New England dad aren't even though you're not and although England dad. If I want one of these things when he's online co write and say it. From one bit ago I. I take my 171000 dollars. And I go online and we did imminent and I by a medically and yeah there are services that you can purchase the corn now I have one knew what can I do with it. So I I guess you hold onto it and hope that bitcoin I don't think that this rail yet had an eye on that. That won't be cash out yes there are services that let you cash out you know people attacked and in that retailers. The tons and retailers except that I haven't seen any retailer okay. I guess I saw a bitcoin is like a bar of gold like when they select. Definitely a god help ethical yet. It is I know Richard I can keep the bush unless you're gonna a year to keep gold bullion at the house he and keep a bar of gold and nobody patch guard is film Weiner or at the bank there's an actual physical manifestation and I get it but the same way like gold has a price per ounce Matty but then a brick. A bar of gold has a a price as well yet so put it this way like. Hold bitcoin the whole pizza pie is worth seventy and a half thousand dollars give or take a little bit right now I could be used portions are bits of it okay. You don't actually buy things yes that was my question I said on a by the decline and vice. Okay look at who takes them I look at Dubai has been going Arizona Texas and we take it who are you what do you do subway takes them. Are stuck ducks are it's got Microsoft Expedia dot com but it's gonna cost me seventeen and about one medical. Yeah the you don't have to buy one you compiling cup last year election you can buy however I can only 200 followed up by one program right now. How to idea William yet can honesty and I can IBM on this regularly do this fight together no c'mon now they are very curious on it literally acorn buddies talking about what's coming down to being in my joined by these I don't know my missing out on some this is the worst just doesn't seem. And it's crashed before major part that as people are pointing out the main draw a bit. Is that it's untraceable currency okay. So maybe draws viewers they missed some people say it's like. Stocks some people say it's fake news. You have many also I have four people on the text line in the last minute that say they wanna reach the radio strangle you for saying that it going it. Let's talk to Scott is on the after hearing him forward. Studio I am. Owes Scott. Talked to me about this thing. Hope this started only seventeen got teach. Out at 171000. And should on no bond I'm the 111000 open that people should be. So you have 50000 dollars worth of that accord. And I'm an idiot point you can't argue going to try and sell it or what are you gonna do with it it did one each week. This morning that sixteen. So a bit cruel verdict out of deep album so Q why wouldn't you cash shell right now and just take 50000 dollars to and you do that. I can. Don't think that's about it but yeah. Migrant this happens but it and thank Scott thank you Scott appreciate that I would win might now be in the likely effort to come back down upon by wrecked on currency. Crypto currents yes in the muddy I used on Superman's home planet right. Jarrah Al. You owe me five crypto currencies of that super coffee by the way we have an update I was saying this before. At my house. Retirement inches. In my house. And you remember us talking yesterday about the box situation. Box conundrum we're all these boxes from systems sealed box and under gas and night. I'm not allowed to open you'll goes box and she is not allowed to touch my packages. So I have a bit of a package conundrum in my home we you're looking for a solution to this and everyone here this sound to me leaning on my microphone isn't the only thing holding me up in studio. That he just said we have aid package in boxer are telling the stories are report gives them. And someone suggested on the tech sign nick. On the bitcoin text line or saying that. What we should do it. And we should. Wrap up the boxes and out of those boxes wrap up my package and just put them in the mr. but the country randomly and then the three of us me Yoko and Max opened them we don't know we're gonna get a whole Yankee swap up potluck rightly guys are basically be gifts swingers snack medical. Like oh my god Bubba this is obviously for Max ego match I opened it meant and my god and then go chill perfect line is you'll patty you'll purposely like give her legs. Why is too big granny panties and then you'll give Macs a week to open them up in the half and then it will be the one year ago. Pol. I don't Wear underwear this they hit it. And now it's gonna happen you're gonna blame. Next how could you do that to your mother you know this ain't that's not funny. It caught only guys that the snow guy and I DA we're gonna get but the con. And plan to get the claims that I'm not a perfect night he Arctic air. And an exact that. And the crowd that maybe we can mark it. My understanding. You can kind point in mining. And eight. I think the compact now equation. That sentence we hear this makes these sound like educational parents and kids via the eight and and a mystery of me solving a math problem. That's the thing that I know I believe that when you you know. You can not him into your mind and and direct she nearly. Enough in the but the are you going. To act like. That so I can occur in a real public view. But explain that that that. Thank you. Yes can get to the bottom of this what. Sheriff dart. I had a text cued up and you that it joke that was gonna how we're we're gonna wrap output is still there now. It. I went worsen we're solving that it was actually what it was was I was it was going to be a little bit routes set something up using actual listener contributions but I would make a joke in my town. And then you would press a button and take is to commercials we are trying to solve the bite going that's enough controversy that. I'm now Matt I asked a simple question. What is bit con and now. Everybody. I finished going just to the audience knows this is year obtuse New England adding right now it's bit going this. Whatever it is because of the different strip clubs I asked is simple question. What is big decline and now I have stumbled upon what is the new way to spread urban legend because all we got your neck. Isn't a 150 text and a 150 people on the phone all claim to know exactly what this stuff is. And it's fifty different stories. What I flat out. I'm college now urban legend we got like three stories one guy a sold at repeats but he Denny about it would have made 500 million dollars dislike. This one back he just made sixty million dollars he picks them like this is urban legend this. A guy didn't show repeats and then but that it would've had fifty million dollars I refuse to believe that. I'll actually we have a new ad from bitcoin that we're gonna play out now all right let's hear it Sally. I think you're right. It going. The official currency. Those huge. Every one join us would you order your big claim that. No I think are represented things it's the official currency it's kinda the pizza thing what happened what I think the first transaction that was made was a guy who had bitcoin and then bought a pizza from pizza shop at Alex core urban legend but if he had. Held on to the bit. Coined because it rolls and it rolls. In reality games as he bought a couple doc coins online. Crap. Call shenanigans is only one way to find out Manny put your money we amount that is a minute by grant him but. Well what I fight I will migrant once I find out you can actually sell this stuff but here's the thing fifty different people until this fifty different things on the stamp tax and the like no you can't you know urban legend you know experts like talking out their but what we got John on grandma but going on the hour framing him Ford studio line John your IT guys are correct. Yes sir out boy at the end since it ends up as well and yeah I guess. Pat start things off. The main reason why nobody can really explain it quite a lot of convoluted new technologies around it not think people understand that. Not gonna lie on public wanted and then being like it's very public at seven I respect about we have a lot of experts. You know I mean yeah I got its when you born actor what do you know because you can. I was sort of like that you can buy it kind of like a stock either change or they're quite in Detroit and go one web site you assert itself felt it quite or you. Glad I hit the nail on the head with the olive pickle comment. Is like that gold as a investment vehicle they quite like that off. By it. You can also minus which is as saying Tom. Regardless store and you buy something right. Cashier will take your money and then peppers the actor who purchase because they quite didn't have a but the cost central a central figure. Which kind of people anonymous on. There are a lot of people out there that crowd sources say that basically say. That if we take in all these transactions. And Hewett called hash function on them which is the really complicate the apple. On and it but what happens is if you put a transaction. Your hash function should get a certain number outlook I'll. And number on it also applied to these miners at their numbers to stop the actual number order a certain extent. That's a critical point to mind is put the the the receding person. The the transaction. Is that why there is we've been told different prices likes a Beagle like to worth eight grand there were sixteen grand there were fifty grand. No I think that Condit get people buying and selling your body changes you can create them it's gonna be a Mac or six million declined. The Mexican ever odd thing is that one point time. Com but I think it is Marat is the wives in the end. And our supply that is that what kind of boot in the fight up a bit odd man you aptly write it this is awful it's gonna pop. Gradual growth against that. You on you were saying outdated too and I would also like to add. That I am a little skeptical of something that doesn't have a central figure now a central figure can decentralize or destabilize something. And they can screw with the valuations of short currency or currency is I use my rabbit ears but at the sea of Scotland. And I want I implying you're gonna the government. I. Funny because I. Or reserve has been I understand they're apparently there are money for you they're sneaky and suspicious to say the least so I I am. I'm skeptical that the same time I can appreciate the fact that it's got its own. Natural valuations. All things point to this Mattie had just Wally knows somebody diddle deep dive oriented tax line appreciate you shot this out here at 339 and this articles from may. In the valuation is on the increase to be coincidence that someone in 2010 but two pizzas with 101000 bit coins. At time of publishing of the article that was worth twenty million dollars if they had how the intervals bitcoin then then. And now they're worth more I still buy it on a bike could have actually casts out all right at him right now rights which you think Jesus took a dump on oak island. It's a lot. Of the look of but the thing you ever said you're just joining us I asked a simple question. What the hell is bitcoin. And I have received a thousand different answers from a thousand different experts. As broken down. Probably the most is simply by. John wasn't. Our new tech expert Jon that his last name. John was. However I have stumbled upon this article. By Seth bigger men. From CNN tax. They do is. And he wrote an article. Today about how he invested in bit con. And what happened type do you see how he's just trying to like do you see how we try to control. JPMorgan. Chase CEO Jamie diamond. Recently called the decline. A fraud. And suggested people who buy it are quote stupid his words not mine. Warren Buffett no less room called it a mirage. And warn investors to stay away and yet it keeps climbing up so why does it go up what if you have because people keep buying assess exactly kindest as your right eye he says a key reason for the price going up as well because it keeps going up. Small investors like yours truly have a fear of missing out on a chance to get rich quick. And when the value of your big decline. Doubles you know week as it did for me it's easy to think you're genius. But you can get burned assuming it'll keep skyrocketing. Some investors have likened it to the dotcom bubble. But Warren Buffett says it's worse than that the idea that bitcoin has some huge intrinsic value is just a joke in my view. It's not backed by a company's earnings. Strength of a government or rule of law. There are no interest or dividends stay. Away. And if Warren Buffett who's pretty much the soundness investor ever says it is invisible financial fake news. I'm and it probably agree with mr. Berkshire Hathaway now pretty much here's where it gets interest or maybe not just nothing to. What is it can't be anything because it's nothing great question and then he addresses that is there anything truly valuable about the car. Yes the technology behind it actually can be it's built on the block change. A public ledger containing all transaction. Data from anyone who uses it. Transactions are added to block says that lovely earlier caller ID said. Or the links of code that make up the chain and each transaction must be recorded on a block. So I guess that's reducing you're going in and you work on these things and you are. That it values it based on that I was told that Beano math. Usually all the way little bit and caught it works is you get equal footing in the near a border over Elvis album then absorbed by now you get a little bit and caught. It bought. And her name get mentioned being in love lives regular bread and kind of zoom in our room. Seeing a drop.