This week in Bitcoin- 10-18-2019- Libra is a tampon? Cash limits, taxes, Australia, Lebanon, Brazil

Hello everyone this is adam meister
the bitcoinmeister the disrupt meister
welcome to this week in bitcoin today is
October the 18th 2019 strong hand
bitcoin is next bitcoin value your
wealth in bitcoin one bitcoin equals one
bitcoin uncomfortable I’m offended by
selling oh yeah you’re getting a new
show here everyday even when I am here
in Sydney Australia who knows what time
it is here who knows what time it is
where you are but it is beautiful
outside and we have two people who live
in Sydney who are bitcoiners here you
guys know has McCook very well but solve
you know adriana Bellotti
very well but she has been on the show
before oh yes go back to 2017 she has
returned her long anticipated and we
awaited appearance she is back Adriana I
can’t wait to see your person but
welcome back to the show one of the many
ladies of Bitcoin oh there are many of
them out there well we will talk about
that in a second but first let us get
into Australia what people when I talk
about Australia and I talk about Bitcoin
people bring up to me Adam aren’t they
making cash illegal there or something
pass what is up with that
what is up like that is that bringing
people into Bitcoin these rumors I’ve
heard about cash well they’re not making
cash illegal per se but they are now
starting tourists well they they have
made it illegal to make cash
transactions over I believe it’s ten
thousand bucks so you’re not allowed to
for example go buy a beat-up second-hand
car with nine thousand dollars like you
know ten thousand dollars cash anymore
you’re not allowed to do that has to go
through a you know bank check
process and all of that but it’s a
slippery slope I can I shouldn’t see em
eventually one day banning all cash this
not this is how it all all starts
creeping creeping regulation for now
they they have put in bans against cash
transactions over ten thousand it may
actually even be over five thousand I’m
not sure it’s ten is a D yes all right
daddy say it’s true it’s true I guess
when I’m here I’m not gonna be able to
buy some used car for the nine thousand
dollars Australian cash I just have to
have it in my back pocket but but yeah
it is uh it is disturbing and this is a
beautiful Western free country but be
aware the regimes like to monitor the
how you spend your money because they
want to tax you basically they don’t
want you getting away with large
transactions that they can’t have a
piece of the pie so don’t say you
weren’t warned people get into big get
into the Bitcoin now and you wouldn’t
you’ll be able to get your beat-up used
car in the future with Bitcoin
adrianna your thoughts on that situation
and more so have you heard in the United
States I’d like to hear more about your
city or your thoughts on the taxing of
Australians when it comes the big point
but also on that cash thing I think the
government is still trying to figure out
how they’re gonna text this face I think
that’s going to be well got them work
done about that next year largely we had
two things happened the government tax
Bitcoin in a way that they didn’t
support the industry at the very
beginning that they went back on it now
that looking at it taking a more long
stance and trying to see how things play
out before they make a decision so there
will be some new regulation coming out
in the future but we don’t know what
that’s gonna be but one thing that the
government does well is they always push
they make an inquiry and they make an
opening fire
so everybody can weigh in and how they
think this should go and they take
everyone’s opinion into consideration
and do something that looks at least
that is what the majority wants so
hopefully something good will come out
of that
all right Bitcoin people speak up speak
up in Australia don’t and you a you
actually have met with some I mean you
were in the capital of Australia we’re
gonna talk about that in a second
actually what went down there pass any
thoughts on the taxation of Bitcoin
situation or regulation situation in
Australia look I don’t like don’t like
the taxation don’t see like don’t see
how how a good framework can be
established that doesn’t grandfather
everyone in because there’s there’s been
a lot of Bitcoin is doing a lot of
things illegal not illegal whatever like
if you go by the rules of the book
you’ve got to keep every single you know
Bitcoin address you’ve ever had and also
if they want to go back and chase you
you know for something you did five six
years ago where you couldn’t have
envisioned or a world of taxation and
you know because it was effectively
small change at that time weren’t
keeping track of all your addresses and
all that so I’m gonna stay unless
they’re happy to grandfather everyone in
yeah yeah I’ll let all that Adriana my
experience governments do not tend to
look backwards they’re gonna have
implement some legislation will be all
worried so I think that’s why it’s
important to be part of the conversation
so you can you know have your voice
heard hopefully they will do what’s the
best for the majority but you know we
have a government here that pays for met
medical bills and we have good
infrastructure so tax is a good thing
we’re a small country so I mean big
country land size small country
population size so I don’t see tax as
being a big problem to be honest I’ve
always gotten in America we’ve been
having some issues with the IRS and then
defining how
it’s going they haven’t been very clear
to say the least and it’s because I
don’t think they understand the entire
situation so I mean this this lease no
question Adriana you were the
parliamentary friends a blockchain
reception at Parliament House you were
at okay so so tell us about your
experience what you’ve been talking to
these government officials in combat I
can’t pronounce the kanva that’s the
capital of Australia people pound that
like button all right tell us tell us
what happened in the capital Australia
when you were hanging out there Oh Jim
things happened so I was there on Monday
was my first time at his event I think
that their first edition was last year
it was largely put by a group of
senators they are interested in learning
more about this technology and our
Australian digital currencies
Association which has now emerged with
watching Australia which used to be
Bitcoin Association of Australia so long
story short they have this once a year
meeting where they acknowledge people
they are doing work in the industry are
giving like a fellowship certificate to
the Association and that what was the
party was about that was in the evening
so mostly fatherly in the afternoon we
had a meet-up the first official
Canberra blocked a meet up with the
Department of innovation and science
industry innovation and science and they
are doing they’re developing a national
blockchain roadmap to look at use cases
of botching tech for government for the
benefit of the people
I think the first ones they are looking
into something to do with exports and
also kyc and relations so sorry there
was a call coming um so yeah we had this
meet up and there were about 100 people
from all over the country there and
there’s going to be
do you do you think the Senators know
what they’re talking about here do you
think they got a good grasp on all of
them but the ones that there are the
ones that supports that this this event
they are process and there’s more and
more people having this conversation so
I think they will at some point be more
informed absolutely all right now what’s
your shirt mean there but you’ve got a
Bitcoin Sydney shirt on I have to shut
for three years now this is one of the
original meetups in Australia they want
that I am me and us we’re now taking
that forward
it was founded by Jason Williams who
incidentally was also the founder of the
bid quite so station of Australia back
in 2013 so question for both of you how
has it evolved since 2017 let’s say
since the last time Adriana was on the
show how how has your a group evolved
since then and yet more members is there
more interest now are people in to
let’s it because it’s called Bitcoin
Sydney but I know Adrianna you’ve done
some stuff in Syria before – I do all
those different meetups right Bitcoin
Sydney is mostly Bitcoin there’s a fork
of bitcoins did name which is the other
Bitcoin Sydney which is the maximalists
Mira there’s Imperium Sydney has it’s
the member of that I’m a member of that
you is it’s different conversations
there’s blockchain professionals where
we talk about technology we try to look
at all the projects and see what’s
happening if they’re going in the right
direction we don’t we just avoid talking
about ICS but most mostly step
conversations about the technology all
right Hass what are your what are your
thoughts on how things have changed or
your thoughts on the meetup itself so my
my preferred meetup is I I like hanging
out amongst my flock so so you can
always catch me with that with the toxic
so yeah there is
good as ever cutter is the best kind of
avocado you can get the Hass avocado and
he’s past pal Matt like but that’s why
this thing is out baby but I come I come
prepared I come from there well let’s
talk about Monday actually the the
premiere of that movie guys you guys
have been promoting this past you have
anything to say about that I know
Adrienne’s Adriana’s got Austin’s a is a
is a good old friend from mine going
back all the way to 2013 so great great
filmmaker yeah looking looking forward
to the looking forward to the sequel so
the judging by the trailer it looks like
there’s there’s a very big element of
compare and contrast looks like it might
be quite the dramatic film so keen on
watching it will see it’s gonna cry on
22 we’re gonna see it on Monday this is
a big Bitcoin film that we’re getting
insider and anyone can come see to this
event I’ll link to the information below
on Monday Adriana explained the whole
thing explain what is this movie called
so this movie is called crypto Pia
Bitcoin love chains in the future of the
internet it’s a big title and it’s a
follow up to dog posters first
documentary called between the end of
money that was launched in 2015 I think
and I haven’t seen the movie talked
about it a lot in the best few months
but I’m gonna see everyone else on money
first and I know that he interviewed
some people that were in the original
movie and as a follow-up interview to
try and understand what’s happening in
crypto but Torsten is a Bitcoin or a
heart so I’m pretty sure that would be –
yeah I’m gonna try to get him on the
show at some point so that the whole
world can find out about this video I’ve
this this movie not again I’m confident
I’ve got confidence it’ll be you know be
good for the space you know more
very professionally done and everything
so I’m looking forward to seeing it and
looking forward hopefully I don’t get
everybody’s hopes up buddy hopefully he
will appear on the show pan down like
button if you want to want to hear but
you want to see the movie maker on the
show okay now so let’s talk about let’s
talk about Libra because that’s been in
the news lately I want an Australian
take on Libra because a lot of people
think it’s all about the United States
Congress and Senate giving them a hard
and if if they let this happen then it
will happen but a lot of people think
that the United States government is is
going to hold back Mark Zuckerberg what
has what’s your take on Libra will it
get more people into Bitcoin do you care
what’s the Australian perspective
oh the Australian perspective for one
like me that grew up in like the 90s
here in Australia when we hear the word
Libre we associate it with Libra flirt
tampons I’m being a girl I still do
right so I don’t know if they’re because
they were basically the the Kleenex of
tampons back back we got the TV ads so
yeah that’s what I think of Libra really
I think they should just maybe just make
their own wallet and allow Bitcoin and
lightning on it and they they instantly
have two billion users and they can
charge a you know a couple of Satoshi’s
withdrawal fees and make a lot of money
yeah but that’s on that’s on them to
figure out strategically not me yeah
that was actually a congressperson said
something like that without the tampon
stuff but yeah I think we should make a
clip out of you talking about tampons
and Libra daddies huh because most of
men that’s that’s a funny one but most
Americans don’t they did not know it but
we have just learned something you get
insider Libra information here it was a
tampon Wow
like a major brand you just have to go
to the supermarket and film all the
Libra on the shelves yeah Wow they
should have took them into consideration
when coming up with a name I mean again
on Australia it’s that the biggest
population in the world but uh well but
that’s the thing Libra says it’s going
to help free up people that don’t have
access to the modern financial system
and people in Australia do so they don’t
care what else right they don’t care
about what Australians think about they
went with Libra just as a Nullah star
sign to take a bigger Gemini yeah maybe
my personal conspiracy theory I’m just
talking about all right
Adrianna your your thoughts on Libra is
it is a good a good thing to come up
with a centralized cryptocurrency like
this I think it was inevitable that
someone was gonna do it I don’t I don’t
I don’t have any firm opinions that
didn’t read the white paper I’m trying
to keep my distance from it there’s a
there’s a group in Australia that’s sort
of like formed a Libra Association so
they gotta try and have an Australian
know who did the pie just because I
guess if this thing’s gonna happen it’s
good to understand how it’s going to
work but I’m not involved in that all
those works with me is but yeah I don’t
really have actually what you just
brought up was very newsworthy as I
noticed the same thing when I was in
Israel that people made up their own
Libra groups that want to work with
Libra before it even exists before yeah
it’s it’s amazing so a lot of us in the
Bitcoin space we have this mindset who
would want to work with a centralized
for the corporate cryptocurrency but
naturally in countries is different from
Israel and Australia and I’m sure in
America do people just they want to be
part of this as they they know that
Facebook is it’s a tremendous if it was
a country it would be a tremendous
country it’d be a very wealthy big
country so that daddy’s actually
newsworthy that yet yet in another
western country israel and here that
that some that someone’s come up with
their own libre group before there is
even a libre because again in the
Bitcoin space we have so many people
saying oh it’s so bad
it will never be approved and that’s why
I say this is where the big boys play
let them compete if people want to be a
part of that let them be a part of it
let them in if they’re gonna innovate
over there let them enemy and I think it
will get more people in the Bitcoin so I
hope the United States Senate and
Congress stops being stops giving them a
hard time and just I mean I don’t know
what they want out of soccer Prairie and
I’m sure a few people here early Adam
what do you talk about it all well first
of all I’d say it’s in the news but it
will it’s such a it’s we’ll look back on
this one day and if they pull this off
it will be the first major corporation
to come up with their own money and
really venture in like hardcore into
cryptocurrency so I think it I think it
is a positive thing but it’s at the same
time you can look at it as a tampon
throwaway thing that that’s that that is
that is the beauty that is the beauty of
life to control the snow we are getting
a female perspective I did not count on
this I’m BP oh man
Wow alright alright so Adrian this is
this was not like the last show you were
all we’ve gone wild we’ve we’ve lost it
so Adriana I remember something
specifically about you you’re you’re
born in Brazil right yes I am okay so
how how many years did you spend there
oh I guess the first 30 oh so you want
to use any nice I know how long
so you’ve it’s fresh in your mind it is
the situation there the financial
situation there did that influence you
to get you into cryptocurrency how yes
of course I guess when I first learn
about Bitcoin back in 2013 it was easier
for me to understand you know this new
money concept because in my own country
and then I’ve had three different
currencies through my lifetime so when
you when you see government money means
many many news management in that level
it’s easier just an initial cost so it
is easier when you live in a country
that has financial problems and has had
hyperinflation and economic problems
you’ve connections to Brazil still any
do you get crypto news from there at all
I do actually I try to keep informed
they’re trying to use blockchain
government there to try government
spending so that’s gonna be one thing
you gotta know if that’s ever gonna
happen but goodbye my mom a Bitcoin book
when it first came one in Portuguese so
my mom knows about it so and she’s 80
so people are people are getting aware
of balance there and as it’s happening a
lot in America people who can who have
the means they’re having a little bit of
the pie their savings finding Bitcoin
because well you specifically mentioned
the Portuguese language and because of
that Brazil is it’s beyond being part of
the Latin American Bitcoin community
it’s part of the Portuguese speaking
cryptocurrency community have you
noticed an increase at all in the
Portuguese language of resources
available out there Intimus I’ve had
people from Mozambique Angola a Portugal
try to contact me especially the African
countries they really need it there but
they for a time it seems like it was
lacking do you stay in touch with that
that side of things do you think there’s
more Portuguese information out there
now that’s a really good question and I
wouldn’t know the so but I do see that
there are a few more books that have
been translated
I think undresses books have been
translated into Portuguese now as well
so hopefully adds and there’s a look the
community is growing so the beauty Peter
like we have here with the meetups and
everybody talking at a table it’s what
you know takes this forward anyways
alright now yes I revealed on my
Thursday show that yes he his family was
from Lebanon originally from love so
give us that give us that perspective on
what the people have experienced in
Lebanon and how how what bitcoin does
for people like that I mean it now it’s
just a it’s a state controlled by other
countries basically so do you want a
diversion that we chatted about in the
car or the version that started six
hours ago six hours what was six hours
ago in a revolution in Lebanon has
commenced it has what people are in the
streets and they said we’re not going
home until this government leaves this
is really going on that same crooks
since 1990 they’re putting a tax on
whatsapp now because the because the
telecom companies are losing money I I
got a key I don’t know what time it is
man I got a yesterday they announced the
tax and the people like that’s it we’re
done okay so tell us how they got to
that point
yeah so uh very like so Beirut is the is
the longest continuously inhabited city
in history it’s been going for about
seven thousand years and I don’t even
think it’s had seven days of peace in
that but anyway in the in the mid 1970s
there was a there was a big civil war in
Lebanon not gonna really get into it
into like the details of you know the
origins of it but one of the side
effects of the the Lebanese civil war
was the hyperinflation of the Lebanese
lira so so my dad was already poor so he
like didn’t get him he didn’t
didn’t get affected by hyperinflation
but my mum’s family on the other side
were you could call them upper upper
middle class
my grandfather was like a general trader
import export goods furniture that kind
of stuff
upper middle class you know one day and
then the next day your inventory that’s
denominated in the lira worth nothing
so yeah you you’ve spent 40 years
building your business all that kind of
stuff and basically what one day you
wake up broke and and that’s a it’s a
it’s a it’s something that you you have
to live through the appreciate so I
wasn’t born at the at the time of
hyperinflation I came soon after when
when the lira got pegged to the u.s.
dollar and the peg has been stable
something like 25 26 years up until
three months ago the peg started to slip
and Lebanese banks are giving 14 percent
interest on u.s. dollar deposits because
basically the country’s broke and now
they’re looking to tax what sack to get
to get more money wow so this is what
happens so Lebanon is the perfect
example of so so also the warring
warlords the in the Civil War they all
made an agreement with themselves that
they’ll be the politicians they split
politics over sectarian lines and all
the politics now Lebanon is her in a
tree or a wall or the tires and like his
son just comes and takes his seat so
like how can you how can you trust such
a government with your with your money
and and all of that kind of stuff but
unfortunately the the on-ramps in places
like Lebanon are still terrible I don’t
know what the on-ramps alike in Brazil
maybe Adriana you might know more about
that they’re better they had they have
some big changes in Brazil they have big
exchanges in Brazil x-shape they do
three or four
I’m not across but but Lebanon has
enough how do they
Bitcoin in Lebanon actual or you can get
anything in Lebanon makes the black
market capital of the world but I think
there’s I think either there’s official
guidance from the Lebanese central bank
warning against its use or potentially
even a ban but my Fredonia friends in
lebanon anymore so i went to high school
there don’t have any friends there
anymore everyone’s left and the reason
any of them have any have any crypto
it’s because they live in either the
Middle East Europe or America and they
have access to exchanges for some reason
in in the UAE in the in the Middle East
for some reason they all rip lists and
I’m not sure why that’s that’s weird
now wait well let the one thing I guess
we should say about Lebanon is if this
is this whatsapp protest is going on Wow
get people if you could get anything on
a black market they are dudes if you’re
listening Lebanese get yourself some
Bitcoin out preserve preserve your
wealth but this is it’s a worldwide
thing day they will need it well they
need it now they need it now good here
in Australia they don’t need Bitcoin you
don’t need Bitcoin you can live
everyone’s connected to the financial
markets here and but a place like
Lebanon that could be falling apart
well that is constantly falling apart
all the time and is controlled by who
knows who really controls it yeah now
now would be a good time very
interesting news is like lots like when
I when I see it’s like a life-or-death
situation to me that’s what I mean
we we could live we could live our life
pretty well here I mean but that’s it
some people in Australia they might be
cut off from banks that day if you get
cut off from the bank’s because you’re
you said something wrong and they don’t
want to do business with you which is
happening some people in America yeah
then then then you need it but uh
I got cut off from the bank on on
not because they were censoring me
because they were incompetent and their
systems went down Commonwealth Bank
really up down for like half a day
there’s a real-life example of why
bitcoins better Bitcoin never goes down
from the banks because they were using
be good as well but but this one was a
was a 100% Bank Bank fail you know and
like CBA I Bank you know like I’m saying
I was affected because i bank with CBI
but CBA is the is the gold standard of
banks in Australia and and they went
down yeah hey and you bring up a good
point Adriana about that yeah some banks
will cut people off for doing they don’t
want to do business with Bitcoin
businesses but hey if you got the
Bitcoin then you preserve your wealth I
think some of these banks over time will
change it will incorporate Bitcoin they
will become Bitcoin banks so but but
right now yeah if you’re running a
Bitcoin business I’ve heard I guess not
in America and I guess in Australia also
they don’t bend one thing to do with you
at time so we’ll see how that that
develops where we’re getting not we’re
getting toward the end of the show here
I want to hear about your your wealth
well first I’m gonna read this out
ofhere 17 trillion dollars are currently
held in negative interest bonds 17
trillion reasons why you should own a
Bitcoin has your thoughts on negative
negative yielding bonds and what it
means for Bitcoin if this is a bitch
this should be a big wake-up call in
mind it should be a big wake-up call but
it won’t be
and typically the 80 percenters will
only move when they need to and and
hopefully for them it’s it won’t be too
late when the when the need to arises
okay let’s talk about the future anyone
so what are some future predictions here
or continue with that well like you know
you can’t print money to infinity like
you can be you end up like like Zimbabwe
so eventually that you know the
seventeen trillion of negative yielding
debt will become 20 then 30 then 50 and
you know then what like you know then
what we’ll all be earning you know a
million dollars a year
very good but a house will cost a
billion dollars I’ve heard a million
cruzeiro’s back in 1990 something when
it was my first job in a million
straight had it straight out of school
straight out of school straight out of
high school not even you LeBron James
though my road some people will be like
well right
Adriana what are anything that I left
all for today sure that you want to
promote you want to bring up if you’re
watching from Australia calm to Creek
Tokyo Monday night alright that is great
absolutely all right has your
conclusionary thoughts just that thanks
thanks for having us on as always thanks
Adriana for joining us Adriana is a very
old friend of mine I was talking that
talking yesterday about my struggles
through the bear Adriana was one of one
of those people that held it down for me
during the best so I appreciate her a
lot Adriana are your strong hand er then
you you don’t sell no I don’t sell but I
don’t want a lot I have a little bit you
know that you know the theory that you
shouldn’t bad more than you can lose yes
miss you the jury’s still out for me so
I haven’t I have my little Bitcoin stash
in my superannuation
which is a local thing but yeah I’m
alone I’m hauling all right very good
dude that is it i’m adam meister the
bitcoinmeister the disrupt meister
remember subscribe now and like this
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you guys on Saturday night new show here
every day thank you all and thank you
good night see ya bye bye


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