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Libra has become a Bitcoin bellwether? Lightning Network vulnerability, Mayer Multiple, Q&A!

October 3, 2019


Hello everyone this is adam meister the
bitcoinmeister the disrupt meister
welcome to the one bitcoin show today is
it sever of russia china russia is gonna
start in a few hours
September 29th 2019 what do we have here
strong hand Val your wealth in Bitcoin
one Bitcoin equals one Bitcoin offended
by selling of course I’m confiscating
all conviction do you guys have
conviction are your hands still strong
you freaking out about that Fiat freak
of a price
I’m not hello my elite friends it’s
great to be here live with you again
since we’re live you can do Chuen a
there’s Q&A today you could type in
bitcoin meister i will answer your
questions remember check out fridays
this weekend Bitcoin show it was
incredible with Caitlyn long disrupt my
Stratcom follow me on Twitter to e CH be
alt and yesterday’s beyond Bitcoin show
that was Saturday night that was a lot
of fun also and there was only a few
hours ago so check that out disrupt
meister come again hey for all you
backed freaks out there there is
something called a bat bot and that is
on twitter you can follow it it gives
you is the bat vol bot for those of you
that are interesting in keeping up with
the bat
saga and what’s going on the volume over
there alright so that is linked to below
also link put to below is a tweet by
matt brown in south africa I was
recently on his show and just retweeted
that tweet because it’s a link to the
show that I was on if you want to watch
that show I was on the show and it was
it’s always great to talk with Matt and
so retweet that and yeah I wanted to
remind everyone a new show here every
day but tomorrow is Rosh Hashanah so
there will not be a new show tomorrow I
might in the next few hours be able to
set something as a premiere like some
type of mix of my podcast
I don’t know a redo of an old show who
knows you might get something tomorrow
but it won’t be a new show it is it is
Rosh Hashanah there’s only two days of
the year there’s there’s not a live show
or new show and that’s and usually this
could be the first time he’s actually
gonna be any sort of show on Rosh
Hashanah if I can get something out if I
can upload something before Rosh Hashana
starts but yeah the first full day of
Passover and the first full day of Rosh
Hashanah there’s there no shows that
such but conviction I do a new show
every day even when I travel from
freaking Israel to Baltimore and it was
I got one in before I left Israel and I
got one in when I got back you got
everything here guys so that’s one thing
you can count on here the conviction
I’ve got a commitment you always get
some new interesting material you tune
in you’re gonna get something and
something different every day definitely
something different every day here right
it’s it’s not what a coin desk discount
dictates I don’t do the the big lines I
think about and I read the Twitter I do
the research before the show and I give
you the original story so I enjoy it and
it’s Happy New Year for everyone that’s
celebrating Rosh Hashanah with their
family like I will be in a few hours
it’s it’s great but still a lot to do
before then I have to go running and
there’s just little I gotta go to
synagogue once it started there’s so
much to do all right so let’s let’s
focus on this though
Bitcoin focus yeah pound that like
button so here’s a very interesting
quote in this this Forbes HUD article it
will they scrub Bitcoin chaos continues
as Facebook’s Mark Zuckerberg reveals
Libra woes this articles from two days
ago and it does reveal a little bit
about the mindset of the current crypto
market I would say the entire
cryptocurrency market and and the
Bitcoin market there’s so much of a
fixation on on Libra and it really it
should not be a bellwether but here we
go
Bitcoin traders and investors have
closed
we watched the development of Facebook’s
Libre which has been adopted as
something of a cryptocurrency regulatory
bellwether
as a tacit endorsement of bitcoins
underlying blockchain technology now I I
do think III think in a sense it is a
regulatory bellwether for cryptocurrency
okay but does that really matter to me
does that really matter to me no I I
don’t care the Bitcoin is gonna be able
Bitcoin doesn’t care what the regulators
think all right but because it is if if
all of a sudden the Senate and the
Congress and all the other countries
would be like oh we love we’re not
giving you any trouble Facebook Libre
they would bode well for all of the
altcoins out there and so it is a
bellwether in that in that sense in the
regulatory sense but what has happened
here is I think the market is the market
the crypto mark of the Bitcoin market
the people who buy and sell and flip
they do all these ridiculous things in
trade law 80 percenters there they want
easy answers and they’re they’re
allowing this the news that then the
revive the Libre news because there is
no Libra yet to be a bellwether for uh
for Bitcoin and that’s just that’s just
not the case but this is where the big
boys play and we’re gonna have to deal
with it if the market feels if the
market says panics when there’s bad
libre news and they sell their Bitcoin
well then that’s it that we’re gonna
have to wait through that as holders and
it’s I can say I think too many people
allow Libra to become an overall Bitcoin
bellwether not just a regulatory one but
this is where the big boys play so the
market is made up of people like this
and then we have to deal with the good
and the bad days we have to deal with
what if the market is it is the the the
Bitcoin price market the crypto price
market if it is affected by
whatever news comes in about Libra we
deal their good days and their bad days
and so they will eventually get people
if this really is affecting the market
if this really is if people are letting
Libra be a bellwether for Bitcoin okay
uh they will learn the hard way that one
Bitcoin equals one Bitcoin that bitcoin
is not Libra and that Libra is not the
next Bitcoin so ly anything can happen
in Libra land people are very impatient
about it and so they they they they heat
Mark Zuckerberg said that you know he
implied that there could be delays it
could be might not be 2020 maybe it’ll
be 2021 and it comes out okay that’s
libras business that’s libras business
hey I wish Libra well because I think it
will on board a lot of newbies into
cryptocurrency and thus in the Bitcoin
but so many people are so impatient in
this space if they don’t have Libra
tomorrow
they sell their Bitcoin I mean and
that’s what people are gonna do and as
holders we have to recognize that that’s
the right to freak out like that and we
shouldn’t freak out when the price the
the Fiat price goes down because people
are irrationally freaking out because
they have high time preference and they
must have their Libra now and they’re
not getting their Libra now so they saw
their Bitcoin I know it sounds Luke it
sounds ludicrous mark but Mark
Zuckerberg says that uh that Libra might
be delayed Oh better sell my Bitcoin I
know it’s it but a eighty percent are
gonna do what they’re gonna do and if
the market is made up of a lot of people
like that then so be it I don’t care I
hold my Bitcoin I know one Bitcoin he
goes one Bitcoin I’m not freaked out
about it but I’m here to explain it all
to you so some a tweet that is out there
by Turk turn to me stir oh by the way
you just type in bitcoin meister and i
will answer your questions i see some
people are just typing stuff in there
that but that’s cool tour de Meester has
a tweet mayor multiple is back under one
ie the Bitcoin price you Fiat freaks is
now lower than its 200-day moving
average and some key
we’ll consider this a bye sign that
Bitcoin is undervalued now now I I don’t
buy into all that I I loved trace and
everything and this is for fiat freaks I
mean this is for people who are scared
to put their dip their toe into the the
into buying Bitcoin and they need an
excuse
well if now is my time if the the mayor
multiple is under one it’s cheap so I
better buy it now better right but then
some of these people they’re like well
now better sell it now there’s a merit
my or my multiple is high it’s it’s
overpriced there’s some ludicrous thing
like that okay well there here you go
for you Fiat freaks there’s a buy sign
for you ah you know what the buy sign is
for me well that’s like me understanding
what bitcoin is and that it’s gonna
change the world and then it’s 20 14 15
and 16 and 13 and I better buy that that
was my buy side I don’t need a mayor of
multiple there was no mayor multiple in
2013 okay there was no Libre talk in
2013 I didn’t I I understood then it was
I thought it was a good price then and I
you know I thought to myself what do I
need to how much how much of this stuff
do I need to have a bright future and I
think I made a good decision and you you
guys think the same thing again it’s all
about getting one Bitcoin that’s your
first goal one Bitcoin and then you
decide well how much of this stuff do I
need to have a bright future and where I
can live a free lifestyle where I don’t
have to report to a boss where I don’t
have to worry about being cancelled town
that like button okay so for all you all
coin flavor of the month fans Rudy down
in the Land of Israel where I just was
booty has a very interesting tweet early
worth hot booty Wertheimer more
specifically if you need his last name
um he said what’s he say here the US
dollar notes this is a joke of course
people don’t go too crazy but you can
learn a lot from this joke US dollar
notes are antiquated haven’t been
refreshed in decades anti counterfeiting
methods are ineffective and embarrassing
there as well and
of ours are high-tech new and innovated
note note types entered circulation just
months ago I’ll be stacking up those so
yeah all coin flavor the month people
that’s a ninja that’s a good good tweet
to study their use Venezuelan uh
banknotes they’re technologically
advanced compared to the dollar better
stack those now your wealth and
Venezuelan but if you’re a Fiat freak of
course you can value your wealth in
Venezuela in a banknotes I mean there’s
so much technologically they’re new
they’re the latest thing that the flavor
of the month dollars are old and they
haven’t been updated in a while alright
they’re slow oh so alright lightning
Network vulnerability roast-beef says
fold and this is linked to below so if
you all you lightning network freaks who
are if you need to hear about the
blighting network and what really
happened full details of the recent
vulnerability affecting several
Lightning Network lightning and
implementations have been published in
this post linked to below we describe
the vulnerability how to ensure your
node is safe well I just said that with
a Baltimore accent didn’t I know dude
pound net Lakeland and how to use tools
we created to detect if your node was
targeted okay if you guys are curious
about that it’s linked to below Nick
Carter sums it all up nice lightning
vulnerability is certainly perturbing
but vindicates everyone that caution
against over allocating in the incipient
stages so here here we go dudes we’ve
known all along that this thing was uh
it wasn’t ready for prime time yet don’t
put too much into the Lightning Network
I didn’t play around with it at all so I
knew not to mess up with that I knew
that it could mess up excuse me but hey
this is why you experiment on the second
layer okay this is a second layer
solution on top of big
point it can have vulnerabilities you
don’t you do not experiment on the base
layer and put a vulnerability into the
base layer Bitcoin so this is the beauty
of second layer experimentation you can
have a a vulnerability it doesn’t bring
down the entire coin it just and it
wasn’t it didn’t really even affect that
many people apparently didn’t bring down
the Lightning Network but it was a
learning experience for those that are
trying to build this thing into a
hundred percent reliable type of second
layer solution on top of Bitcoin so
there’s your story here we go the last
last tweet uh before Rosh Hashana uh
this is from American hold he’s got a
first way there’s a picture of tres
Mayer at the Wyoming event with Caitlin
and again she talks about it on this
week in Bitcoin show link to below and
it the guy focuses was on the shoes that
trace is mayor is wearing he says this
is what low time preference like Tracy
is a billionaire now I’m not saying he’s
a billionaire but this guy is Trace is a
billionaire and he buys his shoes in the
clearance bin at Payless and Jim a guy
who often comments on these videos
points out in the thread that no person
in the photo it was it was tres and
Caitlin and and someone else all
bitcoiners no person in the photo has
any jewelry on okay so just a reminder
low type reference it’s uh it’s how you
become wealthy it’s how you maintain
your wealth deferral of gratification
tres is he’s doing very well for himself
we all know he’s got it a lot of Bitcoin
but still he’s not he’s not living he
doesn’t need to have nice shoes
he doesn’t have up doesn’t wear jewelry
I wear no jewelry either apparently
Caitlin didn’t have any jewelry on there
either and and that’s the thing a lot of
people love to wear bling and then they
wonder why am i poor I’ve got all this
bling I’m rich all right look look at my
playing and that’s how that’s how you
maintain your wealth you buy
you don’t buy wasteful things like that
now again some gold bling might maintain
some of this value compared to like a
car you know getting a bling car that
that’s much more ridiculous than getting
a you know a bunch of bling and getting
shoes also you know I you get the shoes
that work for you okay you don’t need
that the thousand-dollar leather design
or shoes or whatever tres surely doesn’t
yeah you know you don’t have to get one
dollar a bin shoes either and I although
if he’s got one dollar big shoes but did
you get the point
um so hey that’s it dudes everyone have
a happy new you have a fun time with
your families if you’re gonna be with
your families this evening
again this is might be your last show
for a little while we will see what
happens in terms of me uploading
something for a premiere for tomorrow
i’m adam meister the bitcoinmeister the
disrupt meister remember to subscribe
his channel like this video share this
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banging at balbin click on the square
shana tova alright see ya

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