What it will take to achieve mass adoption of cryptocurrency

0:00hey Christina how you doing I'm pretty good it's a good day we've had some excellent conversations yeah I've been following along you know a lot of great discussion on NFT is the bad crypto guys are working on some cool stuff the last panel was great you know this is awesome so far so I'm glad to be a part of it thanks for being here we'll do interest here really quickly hi

0:23Jen so lovely to have you here sir would you like to do a quick introduction to the audience sure nice to be here and thanks everyone for joining my name is Jin Chow and the strategy officer at Finance joined coming up on two years ago and just excited to answer some questions and share my views on what's going on awesome well thank you for

0:51being here we are just gonna jump right in the deep end so the topic of this one is putting the world on notice the crypto revolution has already begun and there's a lot to unpack there you guys know that I have my Avalanche ready to go so should we ever run out of things I literally have three pages of what the crypto revolution means to me what it means to

1:13the genius Network what point genius is trying to do what we see all of you trying to do in the industry and quantifying it so that my grandmother can understand right it's a it's a tall order so that said Ashton would you like to do a quick introduction yeah thank you hey guys Ashton addison here my youtube channel is Crypto Coin Show been running that since 2014 mainly around

1:54enthusiasts and lover of the whole block chain space awesome and mr. Vince Kohli would you like to do an introduction you're near things we can't hear you yet you're muted sorry over that is that was that working late the whole quite intelligence team and germy and

2:22everybody behind it to putting everything together my name is Vin Scully I'm a Silicon Valley venture capital investor a 6x tech entrepreneur a serial business builder tech visionary public speaker over 19 years at this particular point I do enterprise blockchain product design and co-invest at Angel super angel investing in Silicon Valley on highly scalable

2:44blockchain high-growth industries focused mostly on supply chain agricultural space tech and having tak also a venture capital mentor maker at UC Berkeley Stanford and do a lot of judging events at at MIT and with a corporate venture teams I work with Samsung and Google Ventures that's fantastic we'd love to have you back for our G tank pitch event for the

3:12next in our July and August events yes yes absolutely absolutely awesome all right so we're going to get started here so as you can see there's a lot to unpack and Nick Spanos should be joining us here any moment as well I just texted him so I'm gonna give you guys a little bit of the avalanche of coin genius and this is kind of what we see the cryptid

3:33revolution as and we're really just trying to organize the data behind that and celebrate the companies that are pretty darn phenomenal moving this industry forward so for me I will say this is what the crypto revolution means to me and then we'll let each of you kind of go and then organic conversation from there so for me I've seen in the three years that we've come pretty darn

3:54far in terms of the fabric of space-time as we continue moving forward I'm seeing technology develop in front of my eyes very Darwinian we see exchanges like finance we see Kraken and bit max and we'll be and Gemini and if you can't trade on them there's this thing called brave and tour you should do your own research speaking of research you can go to think

4:15or swim or investopedia to get trading information will be aggregating that later you should be checking out crypto ATMs and wallets and digital identity and token projects and blockchain projects and regulation and yield farming and data science and AI and that everything's gone virtual and that our crypto world the folks that are here it's not like the rest of the world

4:37like these are people that really have the passion to help foster real change in the entire world so that's what the crypto revolution means to me Ashley I'm gonna pick on you first actually great yeah you know I've been involved with this revolution since Bitcoin was about $200 my father actually introduced me to etherium at the time of the etherium ICO

4:58and I was so excited about it and I just saw so much potential and how it was gonna change the world and you know diving into it every day realizing that it wasn't going to be an overnight shift right etherium sat around 10 to 15 dollars for a few years while people are trying to figure out how this is gonna specifically be implemented you know how will we implement the revolution and I

5:21think that there's so many cool things that are coming out and we always think ok this next big thing you know is it the futures is its eme this is gonna be the thing that makes the revolution come to the mainstream and I'm really seeing it now after running a start-up for a few years that this industry really is like you know it's like a startup it's

5:43like a 10 year overnight success or in this case it could be 15 or 20 years right and it we may soon hopefully start implementing no security token exchanges and have more mainstream trading of security tokens and be moving more towards the mainstream each day but I feel like you know it's just there's not one single thing that's going to make the switch happen overnight there will

6:06be certain things that help accelerate it but all of these things are little green tick boxes that are making our way towards this revolution and I'm you know I'm excited about all of these things even just this week with the PayPal news potentially with 325 million customers 7-eleven CVS implementing Bitcoin all of these little things are adding up and

6:27it's still super exciting you know for me six years later to be here so I think that this revolution is it's not an overnight thing but it's something that I'm excited about every day I love it thanks Ashton and Jen what can you tell us from like the regulation side of the revolution sure I guess on that front I would say the landscape has changed pretty dramatically over the last couple

6:54of years going from sort of a stance of relatively dismissive maybe three four years ago to a couple years ago with a pretty with the telling of a pretty large bull run recognizing the potential and I guess a lot of regulators looking at the declines or the danger of this but it was pretty clear then that there was no sort of standard template and as we as we sit

7:23today I think there's a lot more clarity particularly coming out of North America and Europe and then the rest of the world at least is taking a clear position whether or not the actual regulations instilled or enforced country by country are are there they're at least having dialogues with us and/or we're fairly clear on the direction at

7:53least that they're going through in the moment that said there's still a number of areas that are pretty unregulated and then there are still a number of generally gray areas where there's been some statements but there's no actual policy in place so it's made for both pros and cons we've seen this help adoption some areas I would say India's one area that has been a bit of a

8:20question mark and they were as you know there were some I guess Court outcomes over then overturned and that's helped actually accelerate activity there and I think we'll continue to see that you know the leading regulators we think are still going to be what we see coming out of the US and probably out of Europe particularly Germany and that's where we'll see the more

8:47developed financial systems follow and I think to Ashton's point we are sort of heading down this path of seeing more security assets being tokenized and accepted but you know it's in varying stages I think Ashton is right in saying that it's still very very early on we're at less than 1% global adoption if I make an analogy to I used to be an internet investment banker back in 99 so

9:17I'm pretty Longtooth in my career but I can see these analogies and we are where the internet was in the mid-90s right so we're starting to get some decent email adoption but we're not quite at search or e-commerce or mobile and all these things so that tipping point is still probably another cycle away and what triggers that cycle could could very

9:42well be more regulatory but it would be some kind of a confluence of mainstream industry adoption not necessarily the mom-and-pop like my parents adopting this but it'll be companies that are realising the value and starting to adopt it and that would drive I think regulation more in a positive direction and thank you so much for that feedback I'm excited to ask a few more questions

10:08around your concept of the revolution but we're gonna pivot really quick to Vince Vince what is the crypto revolution means to you from an investment standpoint you're at the heart of seeing really promising deals come through you're seeing the challenges I mean what does all of this mean to you and what have you seen kind of change over the last few years

10:27oh you're you're on mute again I'm primarily involved in this crypto so-called space since 2013 before I go forward I want to be ready I make some disclaimer here that I may make some forward-looking information within the meaning of applicable securities law and forward-looking information includes but

10:56not limited to the rate of cryptocurrency and blocking technology adoption and resultant effect of the growth of the global cryptocurrency and tokens market capitalization and this is important to make sure that I'm not making any recommendations to buy or sell securities this is just for information and entertainment purposes only so coming back to your question so

11:18the reason I was successful I would give you an example is whether his script or whether traditional securities is a mindset so I was involved in Wall Street since 2008 so I typically I'll give you two perfect examples of how I think about investments so I still remember the day when Obama was speaking and Bank of America was trading at 30 and after

11:39that meeting went to 24 and overnight went to 18 and it eventually went to $1 8 so my grandfather was born in 1905 Bank of America I think was introduced in 1903 so that was my logic to buy Bank of America so trading is one thing and but then looking at the prospective long term like Warren Buffett says so one of the things what he did was Bank of America he bought when it was 13

12:05dollars however he bought billions and he made 13 billion in 90 days so what I'm trying to tell in simple is crypto or anything is a mindset when I say mindset is like how can you become an early stage investor so crypto is all about thinking forward having an equity piece for yourself and actually not betting but really making yourself as a part of community but there's a hole as

12:30a part of real thinking about being an investor so I call it these things at computer software program if you look at a blockchain enables everything has to be enabled like the food we eat enables our brains so anything and everything is enabled by something and here something is technology so when cryptocurrencies become the investment we're actually investing in a piece of

12:53software so that is a shift of thinking if we are not taking anything more than a piece like we you make investments in your house or equities so this is a piece of software if you look at uber is a piece of software which has billion dollars in evaluation so these are certain things of you know when you think of not trading but investments and how can you make up for the low key

13:16investments and of course you have a huge return on those things thank you for asking a question Thank You Vince Ashley I'm gonna be right with you but Jen do you mind telling us from finance I mean what you're allowed to say publicly and also how you feel personally being in this space what do you see in the future where can you see that we're going and you guys are deep

13:38on the global scale literally tied in to the trading side of the global economic engine you guys are by far the biggest presence in crypto Twitter we've done though we've done the metrics so I'm just curious like what's on your roadmap and what can people expect assume that everyone knows everything about finance like tell us like tell us the juicy details sir okay well I'll start

14:05with the basics I think our mission is pretty clear and we've stated publicly over and over again as well as privately we are about the freedom of money and that was the catalyst for me joining my stage in my career in the back when I was coming from I come from sort of a traditional you know management consulting investment banking private equity corporate development for MNCs

14:27like Dell and the MBA to make the shift over was really in line with what finance is trying to do and that's really expand the ecosystem and increase adoption to the point where we can really reduce some of the friction xand resources that are put in place in the financial system whether it's trade finance whether it's remittances whether it's central bank monetary policy these

14:53are all things and then the blockchain technology on top of the crypto can solve a lot of things like taxes auditing things like that so these are all resources that are in our system that create a lot of friction and human capital that can be put to much much better use no offense to accountants and lawyers out there but and so that is in personal

15:17alignment with my overall view of the world frankly and so that was what's so compelling with finance and because the team really is striving towards that vision understanding that finance is a very very small piece of that and where we are now I think it's been pretty clear if you look at our history we grew up through the spot trading on crypto to crypto and then our

15:49priority right now is to increase access from from the from fiat to crypto so a lot of effort is now being spent on developing Fiat on-ramp some you've been seeing probably a lot of announcements or a lot of things for turned on recently to enable this I can't get into specifics but I would say that you know sort of we have teams exploring all

16:16corners of the world and you know as we have in the past we don't necessarily have priorities based on here's how large the market potential is but it's more of here's how welcoming this market and these regulators will be towards us and then and that obviously directly informs how how welcoming banks are to crypto and so there are some pretty obvious areas to hit first and then

16:45there are some pretty obvious channels that are that are sort of more lower hanging fruit but what we're trying to do is get to the point where we can work directly with partners that will reduce those fees down to the bare minimum and then attract those users to bring Fiat into crypto so that's the first step is the on-ramps and then I think what we'll

17:05see down the road five years ten years from now is that the exchange business will again be just a small piece of you know providing liquidity and price discovery but not the main use of crypto hopefully there'll be a lot of off-boarding that can be done as far as to stated a payment state a transactions you know hopefully you won't even need contract to buy house someday you can

17:30all just be done on the blockchain through whatever cryptocurrency people are using and I would agree and for the folks that understand that means all of that can be done with the click of a button thank you so much Tim I'd like to pivot over to mr. Nick Spanos and for those of you that don't know Nick started one of the first Bitcoin exchanges like physical exchanges in New

17:52York and he also works in about eleven hundred different avenues in the industry right now including crypto ATMs and some other things and I'm not sure if I can talk about so mr. Nick's Thanos can you tell us from your perspective after being in the industry for so long what is the crypto revolution mean to you oh well you know the quickly revolution means everything I mean when

18:17I found out about it I kind of threw my whole life away and went strictly crypto and yeah we opened up the first rent at 6,000 square feet in 2013 next to the New York Stock Exchange I'm from the ground floor retail level and opened up my own exchange there where people came and traded live pit trading you know that was fun and I think onboarding is

18:47everything I wish I never learned the bother I want to eat a steak again like cypher on the matrix no no took the red pill and have to continue in this battle for decentralization and I got a fire truck or something from Bali an ambien in New York City I think

19:22it's everything without our well they're very lucky to live in this moment in time where we have an ability to free ourselves finally from levels of centralization that we've grown so accustomed to over years and years and decades and centuries and millennia of the centralization imposed upon people I

19:51think with Bitcoin or we finally have the ability to free ourselves from these controls and liberate ourselves and they believe that if we don't do this if we don't if we don't do that you know if we don't free ourselves of the dissent to live revisionists blockchain we're probably going to be

20:19imprisoned and enslaved by the centralized permission the data silos and all whatever they want to call blockchain right this is the only time that we have I think I won't have to jump in and do that part or else we're gonna be in trouble Thank You Nick Ashton I'd like to pick on you've kind of seen the trading landscape for a while now you've seen

20:43some evolution you've seen some revolution there's so long way to go when it comes to the on-ramps that gin and Nick are talking about in Vince you know recognizes as well what I've heard is that it's mostly as long as you have like a Visa MasterCard you're in kyc AML compliance like around the globe so we still have to kind of play with the existing infrastructure but we can kind

21:07of see the doors becoming more open now so Ashton what are your thoughts on that yeah I think you know it a lot of people still don't know and understand you know your everyday person who's not really into finance know that there are already so many ATMs around the world and service providers like finance and you know retailers that where you can get access

21:30to Bitcoin and you know the one the first Bitcoin ATMs in the world is actually just a couple blocks away from me that and I've used it before and it's been there for you know six years but a lot of people don't really know or more than that you know almost eight eight years or so a lot of people don't even know that you can get it right and they're still sort of that education gap

21:49I guess but what I'm really excited about is you know it's great it's great to have a numbers a numbers game and have more individuals getting involved but I think where the acceleration is really going to happen is when you know the banks get involved and more importantly the stock market and the trading volume of the cryptocurrency industry can more equate to the regular

22:14regulated stock markets right is right now it's really just a penny in terms of even even just the market cap of gold which is way smaller than the stock market is you know bitcoin is a penny compared to that so we really we got to get to gold and then we got to get to what the stock market is in the derivatives market and I think that's sort of what's going to be happening in

22:34throughout the 2020s and the 2030s is gonna be way more accelerated than the first 20 years of this century we were just sort of warming up and you know this paradigm shift that we're going through right now in since the beginning of this year I think is going to be a catalyst for the next two or three years where some big changes will definitely be coming and this paradigm shift where

22:57people are waking up to oh you we're able to hold money that we can control ourselves and you know we are in control of our home lives right and we get to do what we want with our funds and transmit them just on the cryptocurrency side there's people are waking up to that more and more and I'm seeing it you know being in the space a lot of people reach

23:18out to me that don't know about it and they're like hey man I think it's time that I took the red pill and learned about this so I'm seeing that more and more now and it's very exciting that's awesome and Nick's over there going don't do it no so does consume your life right we and we breathe blockchain and cryptocurrency every day but we enjoy it right and part

23:38of it is because the market never turns off so you know there's all those memes about reading you know seeing blockchain in your dreams but you know it's it's sort of true so for sure for sure so I really love that it's disrupting the trading status quo I love that it's disrupting the banking status quo with peer-to-peer currencies I would love to

23:57not have a middleman and have to pay fees at all of those extra layers Vince you see a lot of things in the startup world of up-and-coming what else do you see blockchain disrupting because the crypto revolution is just a tiny small piece of the overall you know blockchain disruption I think we haven't really even seen the tip of the iceberg yet what do you see in your day-to-day right

24:19so I have actually get involved with blob trading at least 58 different industries in the last six years but just for the sake of audience who are listening to us I really want to know what is a core purpose see whenever you invent something there has to be a core purpose the core purpose of cryptocurrencies is relatively very very simple which basically means leverage

24:43technology to eliminate middleman as you mentioned in the financial transaction and making buying and selling things likes costly and more efficient in the same way when you order over through a machine so through the blockchain the people have to understand it's a decentralized public ledger which actually takes it transactions and it's consistency across the whole network so

25:05that consistency gives people a confidence that nobody will be able to add it or you know and also leverage the whole network for the update that sounds like a mouthful but it's not because traditional currencies need bigger banks to oversee and verify it's all about verification with crypto currencies do not so once we really understand what we leveraging what is the core

25:28differentiation and what traditional currencies do or do not do with crypto currencies and Dada breakthrough literally happen in a medical science face in a mad divisive space people need to understand so it comes with a decentralized thinking that no everything is controlled by somebody else and you have the say to that so again the mindset right how do we

25:51mindset the whole thing so in answer to your question it is banking is agriculture it's like the I if you know the Jay coin and JP Morgan started agriculture is big thing Vegas is doing it so they're the core of industries which really want attendant city or the food security like with IBM blockchain those people have suddenly have have the breakthrough to say that okay it is not

26:16only associated with cryptocurrencies but it's more than that and that's where I think the whole investment portfolio if you look at the Bitcoin on March 12th I call it black Trans Day because it dipped 50% IFS it was are almost trading at 3,000 but if you look at the traditional scope of how the market has moved in the last 90 days even the Bitcoin has moved along

26:38so people have now started gaining that confidence and I think this will leverage more breakthrough in more than I identified 58 industries but that will take long time to talk but if anybody's interested I can talk more on why those 58 industries have been identified including space so there's still a lot to unpack here but we are about down to about 10 minutes I would still love to

27:04hear a bit more from Nick Nick what can you tell us just in terms of crypto revolution where you think we're going I think adoption is happening more and more so and especially now with all the different the central banks around the world over printing and stuff many countries small ones probably we're gonna lose the value of their currency

27:35and people gonna jump on all Bitcoin and I think you know it's gonna grow up I mean bitcoin is gonna get that many more people and then all these analyst and all these others who think the bitcoin is a stock we'll wake up a little more and realize that it's much much more than anything

28:04they've ever seen before as more and then they're gonna get the bug and I think it's an inevitable incredible future that we're gonna roll into especially when governments use blockchain for currency it's gonna be that much easier to buy Bitcoin oh when they have their blockchain quote-unquote block channel currency the people will be able to buy even more Bitcoin even

28:29faster so I believe that we're gonna what's happening what happened much faster than anyone thought already so I think it's gonna happen even faster now six trillion dollars plus and you know everyone had all this time to sit around and think in their houses and I think a lot of the mindset out their minds have been freed on they're realizing that governments might not have their or

29:04their best intentioned and the best intention of the of the people behind what they're doing and then let's see I think we're on the right path and let's see awesome thank you so much Nick I'm ginger would you mind like telling us a little bit from a finance exchange standpoint when you start talking about tokens that can be listed on Finance which coin

29:29genius considers like top tier there's there's you guys and there's there's a short list so we'll give you guys all those metrics from an exchange standpoint with this inflation of I think it's seven trillion dollars here and we see that exchanges are going to have to exist for this 24/7 marketplace that's happening because money moves around 24/7 what are your thoughts on

29:54the revolution of exchanges okay well I would say over the past year we've seen a little more decoupling from touken valuations right so if you looked a year year and half ago all ships were sort of going up and down in sync relatively and then starting probably bout a year ago you saw a little bit

30:21more discrepancy and I think it's both a good and a bad sign it's a good sign in that I think people are starting to do a little more homework and individual projects understanding them a better a little bit better before they're deploying their their capital but then on the other hand there is a little bit more divergence on market cap and that does impact liquidity and so you sort of

30:47get somewhat of an unfortunate downward spiral for some of the smaller cap coins and perhaps may be an unfair upward spiral for others but I think that will that will dissipate once as Vince mentioned there's more money flowing in and more users coming in so that's sort of the overall goal we do want to support these projects that perhaps will take a little while there are there are

31:12sort of a chain of dependencies on some of them all right so if you have a scaling project that's dependent on layer 2 adoption layer 2 adoptions dependent on D app adoption and these are all sort of expectations that the market had differently a year ago versus today those are some sort of kind of micro economic trends that you'll see but on the macro side I think we are

31:39heading in the right direction we are in an environment right now that's pretty ideal for attracting more users but I do think it's a little more nuanced than that from one region to another because like I said if you look at the actual use or we're still not even at the early mass adopters and much less you know again I'll point to my parents as lag

32:00laggards you know once they're using crypto everybody is using crypto and that's that's a pretty far-off future I think at the moment so we still need to see a few things happen that would trigger sort of what I call this early mass and get us closer to a tipping point which I hope we're looking at you know hopefully single-digit years away because once

32:27that happens and then then things happen very very quickly after that so we saw in 2017 in that bull market an order of magnitude adoption during that one year period so if that happens again we'll see another order of magnitude and then that'll sort of set things off the big question I think is when when that will happen and I you know my guess is as good as

32:50anybody else's but I will say that it's probably more going to be reliant on again a perfect storm of external factors yeah I would agree and I would say that we're definitely seeing the sentiment for the overall crypto market definitely start to change and people take it more seriously Wall Street and institutional money is taking it more seriously so there is definitely a lot

33:16of potential still it's still a very nascent industry right even even those because they understand our little subject matter expert corners are you know we still have to kind of compare notes and that's part of what the genius Network is all about but I'd love to invite you guys back to join us on our genius Wednesday calls that's our weekly market analysis and we talk about a lot

33:38of these things as a matter of fact the only reason I know these things is because I've listened to them talk about it for about a year and a half now and we have over eight months of historical calls and going through crypto winter and going through going through the slide which we predicted early which was just phenomenal but I'm glad that I have

33:57it on records I'd love to have you guys come and be a part of all of that so we are about five minutes away I'd love to hear your last thoughts I'm just kind of a quick roundtable from all four of you out to the coin genius audience who could be anyone from Wall Street to all streets they're crypto curious they want to understand what crypto is and when we

34:17say the crypto revolution you guys could just give your final closing thoughts on the things that we should definitely be telling our audience here and I will let you guys choose your own order that's a terrible plan I'm gonna pick on Esther all right pick on me yeah you know what I think to make it short and sweet a lot of people say you know the best time to

34:43buy Bitcoin was was 10 years ago and obviously the next best time to buy is today and as we sat at the beginning of this discussion there's no you know single event that's gonna make Bitcoin rise and if you're somebody who's interested in the space and you're interested in the future and getting involved in you know how the world is gonna be evolving then don't wait until

35:04you see Bitcoin rise up and you know you buy in at the top and you're finally in you know today is the day that you should be getting involved and learning about this technology and I'm sure people are already interested if they're watching this stream but just to get further involved in it and see if you can help other people out and every day the liquidity seems to be increasing the

35:27onboarding finance is doing a great job with coin market cap showing the liquidity getting more people involved having more other coins having Fiat trading pairs and decoupling from bitcoins so that these ecosystems can start growing themselves and you know it's such an exciting time that don't waste any time you know today is the day to start getting involved and the

35:51earlier you get involved the happier that I think you'll be awesome awesome Thank You Ashton we're gonna run out of time so Vince you're up next your final classic I totally agree with Ashton that this is a time if you look at 90 days back is 3000 is threefold Thank You June for mentioning in previous comment I really like the Nick comment about involvement of government

36:12if you look at in Asia what falls pandemic indirect pandemic has starters that block strain and the currencies actually the whole donation in Asia is through blockchain so for your audience I just want to be simple simple like too simple so I'm going to leave the three things first of the mindset which basically means you are now an early stage investor so think

36:35like an investor second is a perspective you are investing in a computer software a piece of software like a software is new oil for 21st century and this is a most valuable computer program you're investing in and the last but not the least think of an asset or go back to 11th grade economic class where it was a demand and supply and if you think that's what bitcoin is bitcoin is

37:02actually at the 1/2 in movement which started at 2012 double at 2016 and today this is 2020 so if you really want to be a new economy and a part of new economic growth this is it discover the next Microsoft and uber today thank you Thank You Vince mr. Nick Spanos your final thoughts sir oh well yeah you know ii went up early of course whether there's only a limited

37:29amount there's only 18 million and by the year 2140 there's gonna be 21 million and everything else out there is not as scarce there's no scarcity in the currency that's for sure we just saw that just recently and I think as you learn more you know take 30 days of intense study and you'll learn a lot about Bitcoin and hopefully you know you jump in if you'd like if not that's

37:58okay too but it's much much more than the currency because it's actually a vehicle for personal freedom and freedom of your children and I believe that the more you demand of it if it's supplying the man the more demand the more good things will be supply so you have to get involved learn everything you can tell

38:29your friends and keep the word keep it going because it keeps the word out there going of course it's gonna get out there anyway but what happens if some people get involved in like these Ponzi schemes or something I don't know that well they try to steal your Bitcoin and that has nothing to do with us and I think that's one of the biggest problems out there is that you get people get

38:51involved in the wrong projects because they're not they haven't been educated and then all of a sudden you know they have a negative perspective on the Bitcoin and the negative news comes out on tape all that stuff but bitcoin is cash its cash for the internet and you know no one blamed the cash for the banks Billy the Kid robbed and now there's a lot of people

39:14out there that don't want us to succeed but these people are the ones that have incredible connections to the already you know the legacy financial system so of course they don't want us to succeed and it's the people's money actually it's actually the people's money sounds like it's cliched but it actually is and get involved learn about it and don't

39:39buy anything for 30 days just study for 30 days every day and Jen your final thoughts please yeah sure well I think I agree with all the comments that are mentioned before I think the only other thing is you know what level do you want to get and there's guys like me and people financing that at any given day depending on how the markets doing 50 to

40:0580% of our network this is tied up in this and so it depends on where you are in the stage of life and you know how how much believer but I do think as Nick says do your homework understand what you're becoming a part of but I think invariably that will lead to you wanting to get involved and then you know come in come in and buy there's plenty of plenty of channels once you

40:34sort of dig around a little bit of course finance is happy to serve you as long as you're not in it oh fak country yeah I think again I've made predictions in the past and I've learned not to do that but I do think you know you can take a look at the ten year history of Bitcoin it's pretty clear that we're not even into our fourth cycle so when you see a 50 percent adjustment in Bitcoin

40:59that's not a full cycle that's the type of volatility that we've been used to in the early days I do think that level of volatility will continue to decline obviously as users come in and market caps and volumes go up in and you will see a stability there and then it becomes much more viable as its primary use case which is which is as a

41:19currency and again I do think that we're going to see these fundamental changes happen within single-digit year so I think you know hopefully for the audience that's in everyone's lifetime yeah so yeah