Crypto Bitlord | BlockchainBrad | Candid Crypto Interview | XRP | Blockchain | FTX | Ripple

by birtanpublished on August 29, 2020

g'day it's Brad Laurie or blockchain Brad and today I'm honored to speak with a fellow Aussie many of you know him he is well known encrypted Twitter his name is crypto bit Lord mate thank you very much this on today gone off fog good to

Be here and I'm gonna love that accent mate it's certainly one that not everyone hears all the time but you rock the accent right around the world everyone knows you in CT or to Twitter now mate everyone knows that you are a

Charismatic controversial crypto character there the four C's I've written down for you you've stood true to your word you've always been there a project with our smashing out those comments I'm eight will essentially do

You stand for let's look at your background a bit a lot of people don't know you you know in outside of the scope of what you tweet so who is the real crypto bit look just comes down to simple man I

Mean like you have something on your mind you wanna say say it if this you know things going on just get it out there you're not always right it's human nature you know it's just like that's how I do things man and you

Know of course I'm gonna be wrong and do things not everybody likes but man that's the way the world works you're never going to impress everybody or everyone's gonna like you so just keep going maybe care what people think too

Much you're not gonna do you and that's what it comes down to right so basically do your thing and go full throttle that's what you seem to have been doing now mate with regard to your role in crypto can we talk about that and what

How do you perceive your own role in what you've built so far I had a why I don't assume it had obviously my role in yeah I mean like what so what are you what do you think that you offer and what you fundamentally do you know in

Your role because obviously there's responsibilities and roles in each of the different things that and huge people you know make whether that be educational whether that be one with a rapport that up yeah yeah my role is to

Is to enjoy myself that's my role so it's like you know I like to enjoy myself have some fun I like to make people laugh and you know I hope they have a good time I feel like I've got a a pretty interesting sense of humor a

Lot of people get that you know and a lot of guys in crypto Kim can relate to that so it's just you know that that's pretty much morale I used to earlier days I usually post a lot of more educational stuff but she did they

Don't teach you these things and I used to find a lot of good coins a lot of good projects put them out there and that's like I think a lot of that is how I got to this stage is because I had those I have those foundations you know

I made it I made in them early like doing some cool stuff you know getting on getting on some good coin so a lot of people did getting out of the right time you know just kicking back in you know enjoying the crypto life mate that

Simple and nowadays it's like look you know there's all sorts of things going on for me it's like look you know I just love this place I just like to be involved in this space so you know I just like you

Know I see something a comment and I saying it you know we can have a meme come out of something or you know I look to look to help or a raised line of important issues stuff like that just do you know just they lock their the

Obviously thing might you know and just be a good kind I love it I love the way that you use the words in the way that only Aussies would know now made with regard to you being real bringing in the humor there is a more serious side to

You as well with regards to taking on board partnerships with also trying to build out your own capacity so do you want to talk to wizard about that because there is a brain it also you know working around the clock 24/7 when

It comes to you you're not just you know good I hope so may I tell you what lucky the thing is there's a lot of things happening in crypto a lot of opportunities and you know it it's a it's a good time to get involved in

These things to you know see something that you're liking you stand wide that you can that you can genuinely have a belief in me and walk to get on board and support that help it grow there's always like a mutual benefit to these

Things so you know it is that there's a lot of opportunity to change the world you know change finance change trading change technology all this sort of stuff so it comes down to the core code she wants a Bitcoin you know most people

They have a look at it they have a closer look they believe you know what it stands for what it means and they get important you know their buy this they hold it they transact it they you know I tell their friends and family

It's the same thing with a lot of these projects make you know you you see something that you believe in you just get on board you know it's as simple and not always is it is it is there money involved or something tore it can just

Be you know the better of human corn you know that's what it is and you've been vocal about some of the partnerships and we'll talk about dudx later in the interview but I want to pull it back to XRP and the art paint or

I'll coin discussion as well because one of the things you've always been clear on you that you you branched out to explore startups in the space you know work for their merit or just you know for their

Value you know as things were moving in that 2017 you know insane well some would argue is amazing so we know what's your take on altcoins you know how do you assess value especially when it comes to you

Know you having a media position okay most of it is it's like a lot of it is right I mean you know even through the early days were buying and selling things that were literally knowing scams you know we know we'd

Always we know something but it just comes down to the fact that it's new it sounds good it's got a great name a fancy logo all that sort of and there's a huge money flow there's a massive pool of money that's

Looking to move into something and basically pump it so that's how it was in the early days you had to trade something even if it was even if you thought it was out of it was gonna move to this day it's a little more

Complex I mean there's a lot more competition a lot more dilution so obviously the the selection process is being whore a bit more strict but yeah it all comes down to that same thing right looking for something that hasn't

Been done something unique something that stands out something different obviously like you know a good team that that know they're doing that have a you know they don't even need to have a proven track record they just need to be

Delivering in that so right now there there's not a lot of you know all coins it's a it's it's a new era now it's it's it's never gonna be like it was beforehand things are moving to sort of more

Business and tech orientated you know look at you know can you know can this old coin or s STR what are the you want to call it can it be profitable or what are the case you know some of these chains can they scale what do they

Deliver you only really look at it when you really look at it it is the same that we have seen from like day one you know in 2012-2013 just repackage over and over and over again but now we're getting bored of it you know the

The oh doesn't excite us anymore it's like show me something I haven't seen it's literally all the same you know so I guess now what I'm looking at is you know if Bitcoin is going to continue to to to

Grow and appreciate any value I look at things now in terms of cheaper alternatives you know what is what are the normies going to see as a cheap alternative so I look at these things I look at the exchange exposure do they

Have you know conflict free pass that you know exactly no pre mine I sell those sort of stuffs and your by bit back on industries by no no worries and you know what's interesting to it what's it like literally less you make is good

Segue just add into that mate because clearly you look at some of those fandom fundamentals now as you mentioned because we're moving more into life this tech centric sort of era there's a high demand from the whole space for more

Valid and legit Keynes it would seem now than before because before you could throw a dart as you sort of alluded to but in that context we're still seeing price be a huge reason for entry and you mentioned you know as Bitcoin starts to

You know present itself as something that's not necessarily moving rapidly you know in terms X 2 X 3 X for example I use someone who really advocates for learning about those that have sound tech but also have a greater a greater

Likelihood and propensity towards gains a faster gains in the short term yeah I feel like look BT cities you got answer and still priced out for a lot of people to own a whole Bitcoin you know like it's not always a major choice you let's

Let's let's put it like this one get in exchange let's just call it G coin exchange eggs you put Bitcoin honor and you put dogecoin on it now when the normies go to this exchange

And this should be clone for $8,000 and then they said dodge coin for an example $0.10 the normies are going to buy a lot of the dogecoin because they get so many units you know per dollar that you're 10 units per dollar whereas for Bitcoin

They get like zero point zero sir it's just how the normally brain works they'll buy a lot of the dogecoin and and and it just comes down to you know looking things like that so when I say these

Coins have the exposure across and changes you know I can quite happily light up on these on these things and you know hold them into their 2030s because if Bitcoin catches on well these cheap alternatives should do really well

Really really well and I don't believe they have the yeah they have the the the ability to outpace BTC and you know that's that's pretty much how look at some of these things right now you know the games change entirely because that's

Reason why people really know enjoy your content because you do seem to look it out for the little guy you know in the way in which you approach your content you know talk let's talk about some of the ones you have been really vocal

About made as well like XRP ripple the drama the fork I really want to get your take on this because you know you jumped in when the price was pretty low some time ago and you've always been a major supporter

Of XRP so you know how do you see things now as they start to move into business you know they start to argue they have real utility now looked at always they always do you know like I was getting to report a like under under 1 USA like

Point point seven point point five four and it's like I always always believed in ripple and I I really really got interested in what they were doing you know and like even in those early days I could see the potential for you know

Being integrated into like the US financial system and and that sort of stuff and it was like it almost developed like a conspiracy theory for that for the early day Ripley's and I was right there like feeding into that

you know and I thought look if they can achieve like just a fraction of what they're really setting out to do this this thing has potential years later years later you know we get to this stage and you know and now I was saying

You know ripple obviously they move the way they tried to do the whole thing the logo or whether the other community make the logo because we're not responsible for the coin we're not responsible for the price of X I'll pay this like

You are the directly responsible for the price of xrp you cannot hold like 50% of the supplier continued dumping 250 million dollars a quarter on the market and say you're not responsible for the price

That is delusion look at the highest level man so you know I started to get upset seeing that the stance from the the executives in ripperino Brad garlic are saying it you know they're not responsible with the price of xlp

It's to me that's just that's insane you know and I feel like if you're going to continue dumping on the community and and riding off the back of the XRP army allowing and feeding into that hot like it's a it's a it's it's a it's it's

Ripples third-party hype machine they feed into it because it's it's basically like you know their marketing mechanism to to pretty much pump the price of to vex up it and continue onboarding you know retail investment so they've got

And they've got an egg out to do that so they're not you know as I would like to believe you know liable and all that sort of but it just started really getting to me you know seeing the price continue

Continue continue down the the hype continuing from XRP and look they even tried the pump if it's this floor of stuff you know have a look at how they were acting on social media they literally tried to pop the coin now you

Know it just got to a point mate where enough is enough you can't keep dumping on the community continuing to dump on the community investing into real life businesses and then say you're not responsible for the

Price of egg SRP it is you're directly responsible for it you need to take ownership and responsibility so I pretty much had enough and I thought everybody else had as well I'm gonna say something I'm gonna do something so I said look

Wittingly did headlines right over hand the crypto world all the way to mainstream media that's it man I basically said look you know you stop dumping the I will fork and create ripple one and it was like at first I

Was like a bit of a bit of a joke you know and then of course serious you know a lot it make you be surprised how many people how much money how many developers just literally came out of nowhere

Space of a week it was like those there was a good good luck up and over 10 mil like ready to go like from people wanting to wanting to grade this developers from all across the world mate huge community and yeah

Became like serious and no doubt it could still still to this day it could happen but one of the big things is is not wanting to have look at Bitcoin cash not a hole so I mean and all that did that subtracted from Bitcoin he

Subtracted hash power it subtracted community it subtracted money flows from BTC so it was a dilution and it's just useless now so I never wanted to create something like that if it's done it has to be done properly it has to serve a

Long-term function and have utility have purpose the thing is with ripple one we could create it so easily but is it going to have the longevity well you know to jump in it that's ok bit Lord I want to ask you in it you know you raise

Bitcoin cash and Roger for he would argue had the same sentiment for his own you know ends when it came to Bitcoin so without me trying to jump in with in my own view which I want do you see what I mean is that you obviously have a

Serious issue with Brad well coming out the next thing the thing is with Roger ver a lot of what he did was just based on ego the gore was the GAR was running off a but there wasn't a lot of sense to what he was doing and I

Know I still believe to this day that Roger ver was used by a lot of people like a like a wet rag ain't hard for him to look back on that but the thing is ok he he was more you look at in his post he's behavior his actions it was all

Really down tipper and that's not that's not what reforms about reform is about you know helping the people providing something so you know you're not going to be forced you know dumped on 250ml is not gonna come and dump on you but you

Know this corner it's about you know having something that has has the opportunity for growth has the opportunity to to go ahead and provide the short leg is not yeah and what's interesting to mates or interrupts is

That you have this idea with with XRP as being this bridge between Fiat to really support ecommerce you really globalize you know a new narrative and a new financial paradigm essentially they want to be one of those key assets that

Enable this kind of global trade now in that context he'll whether you stand with regard to centralization and decentralization now where do you stand with regard to us as party as actors in this face having more autonomy when it

Comes to money and settlement and even just making transactions more seamless real the thing is might look true decentralization is it's a bit of a pipe dream you know have a good look have a look at any any any coin any any

Blockchain creation that we have wanted to be truly decentralized you really look at it even Bitcoin is centralized to a degree through through the hash power through the morning pools but the difference is you know they're not going

That they're not and the constants of transactions where as an entity like ripple could and would if the necessity arise so when I look at this centralization I believe that were quite some time off from really achieving that

From a technological standpoint but in regards to you know freedom of transaction I believe everyone should have the right to that and of course there are certain transactions that we're not going to agree with you see it

Every day example PayPal canceled you know the accounts of you know people that were involved with pornhub and things like that you know right yeah you bought and weed and stuff like that you're cancelled you're buying crypto

You cancelled it's like well actually you know if I want to buy and smoke a stick I should be able to you know if I want to go into them and wash no material you should be able to and may we know from you know decades if not

You know centuries of Fiat yes we know that that's also been a medium of exchange for equally illicit practices it's no different really in that context as what the both tools arguably for different for different people for

Different purposes but moving back in you know this conversation about utility and we talked about XRP clearly you you you foresee great increase in utility for the network that they're building but what about in the context of equity

You know you mentioned this significant decline in value XRP over time which obviously earns you as someone who was an early investor but do you how do you feel when they go into equity races and they have a real company entity and that

They can create revenue regardless of the price of that utility token it's something that always is me exactly so that's that that's a big thing behind reform so there's a company that's created this type of room they continue

Leading investors on I continue look basically just robbing everybody in and at the same time as he dumping it on the market saying that we're not responsible for the price of for all the performance of XRP and then when it suits them

They'd like to have a closer relationship with exactly when things are doing well when it's not they like to distance themselves that is a red flag to me and this same company is selling the XRP and buying real-world

Businesses and real-world assets how the is that legal you know look what's going on here and as you said and then they're doing equity raises your mama takes up a hold on that's I don't own that I'm

Gonna rights to that to the to the equity or anything like that according to X R P but in my belief Exxon P is it is a it is a highly centralized organization and those tokens those ripple tokens that should

Give you that should be launched stock there should be like equity in the ripple company but as you can see they will continue selling that buying new businesses expanding and they don't owe you nothing

All they need to do is continue to you know allow normal east to believe that it's going to replace the federal the federal reserve's system that's it that's what they need to do they need to

Continue that and they continue dumping this until it goes to zero that's sure and made obviously it's interesting at the moment because we're in this terminological in question mark we don't really know exactly how to define each

Of these but right now the US has argued that if the area and bitcoin are legally commodities as you know but it's going to be interesting to see how the rest play out and how they determined by the c83

The sec and certainly you know with regard to the future for those investors in that what i argue as a trade utility that prospect of utility at the very least they certainly deserve at the very least proof of increasing utility

Correlation with that token now they have to see that otherwise that token has no merit but those in the xip camp argue that's coming so what do you say in response to that when they say hole hold that asset because it's a long term

Clay look when a hard ripple does it give me does it give me equity just give me rights it gives me any relationship to the money they may know when they dump this

On me and my fellow community members there is no no should it be hell yes so because since they'll each talk about securities bit Lord because well oh you look at it like it's its it basically

Fits a hallmark definition of a security it really doesn't and of course they're going to argue that they're gonna spend millions and millions of dollars lobbying against this because it puts you know let's say have a look at Jed

How much money the guy gets what does he get like eighteen million 30 mil he just cashes out casually you know it's from the from its founders draws on the community you know guys like Jed because like Brad Brad darling house of course

He doesn't want he doesn't want to give his money you know to the to these people yeah well you said you're certainly speaking out here you're letting people know quite happy I mean

Sorry just got sports like if you're going to yep yeah yeah the thing is yeah you good the thing is if you're going to create a coin print printer into existence and then make a community believe that this coin is going to be

Used for such-and-such and listener and they continue selling and dumping on them saying that you've got nothing to do with the price of the tycoon and that the coin gives the community basically all what is the point of it then in

Ottoman they at this stage it's been said they don't even need to use XRP for anything so what is it what is it doing what is it existing for I don't understand why my being led on what can I get a clear answer here right you know

Answers let's explore to expand this in the broader conversation because what's clear is that you're pissed off you know that there's this this.mb ambiguity with regarding utility token you want to seem you know more clarity with regard to

Terminology from the SCCA CFTC you want to see what understand better from them you know from their own community and their own team what it was essentially it means to have equity so you know some of the

Things that you are saying a lot of other people are thinking right now but do you think that it's possible to have equity and a utility token do you think that in the context of crypto as we see many say they have a utility to open or

They plan for that to be proven in the future do you think it's possible because we know other companies or startup to doing equity raises in concert with a utility token it's sort of I mean look if there's any loophole

They will take it and they'll take it for whatever the hell they can so I mean right now look that's pretty much what's happening you know in regards to utility tokens at the end of the day it's just it's a lot of it's by a in in

Actual fact look at this right have a look at air miles you know let's say I'm with I'm with American Airlines and I get these points for my air fliers I mean we could call that a utility token I mean yeah it's

Got utility it's it's like it's like that that's it's just a point system so of a lot of these a lot of these utilities a utility tokens a lot of them are just like in the things we don't need them we don't show me one

Utility token that we really need I mean please well we're not gonna play on money lady told her we definitely need to sound money for a start let's go with that obviously we all know deep that but we damn well need it that's that's

That's money that's Martin right that's money yeah that's money I mean the money money is money it's not a utility token so our utility token it's like it's like when you're going to timezone and you get the

Tokens or you going to it Tom don't you get a hundred bucks you get your tokens you put them in the games to play and I'm gonna call that a utility token you know it's like but for some of these some of these companies and startups

What they do you know they raise a lot of money and then they go and develop some something that doesn't really it doesn't really need a utility token they just need to make that up you know what I mean so they can raise Kappa gonna pay

Them so yeah race cab pay them so like enormous amounts of money you know to try something that they don't know it's gonna work on this it's pretty much was happening this place we've seen this the early days the very early days but the

Difference is the early days it was it was much different people trying stuff there had been never been done before it was a completely new world and I fully supported you know everything that was going on now we just see people taking

The piece literally right and for those who don't know that Frey is that you know it means essentially making a mockery of this face and and certainly true because and then there's the flipside we're starting to see arguably

Teams that are actually potentially trying to showcase in the future real utility we don't know as you mentioned but would you argue that most of the time we're in a crypto casino right now where gambling is you know the

Commonplace practice or do you think that we're morphing into something different okay blockchain is when you look at when you look at blockchain look this whole place is a circus mate it really is and it's it's great

Entertainment when you look at blockchain it's slow very slow very expensive it's we've been using but the thing when you really look at the essence of blockchain we've been using blockchains

For thousands of years it's just a record-keeping system a very secure record-keeping system do we need – do we need tokens do we need all this to operate a blockchain no we do not we honestly do not so you know when I look

At blockchain I look at blockchain as a pretty much like a like no angel like he's pretty much ain't mate I mean it is you know you've seen it like you know back to the Mayans how they would you know record things you could call

That a blockchain seriously I mean it's it's that simple so you know when I look at something like Bitcoin it's just an implementation of the technology and you know do we do we really you know we were over Harper a lot mate we really do and

Well I feel like you know going forwards a lot of the a lot of the the let's call it you know block chains and things like that they don't really need to exist and you know it'll sort of find out like it's it's it's just like a natural PI

It's like you look at your your banking ledger you know you can call that a blockchain if you really want it to so well it's interesting that you said the word ledger there bit Lord because we've already seen pre you know tokenized

Startups you know pre crypto base you know blockchain startups that have showcase the use of block chains and the utility of block block chains in that private sector that permission and ledger

You know based orientation so there's certainly evidence to suggest what you're saying is true that there is value pre you know tokenize sort of unit you know energizing blockchain but do you think that that mean that dispels

The value though do you think that it's possible and plausible that there will be a means for some of these tokens to actually function as a utility not as a currency not as a you know unit of exchange much like we see money play out

But more so some sort of unit that represents more of a stable indicator of what that business represents you know you understand business very well could it be something that's not meant to be sexy for the Shilla or for the investor

Could it be something that's just meant to be a representation like you mentioned with you know units for mileage and you know that the the game space of time zone and when you get those tickets could it be something like

That look it already exists you wanna that's what I'm saying it's the same repackage just looking different now and you know a lot of people coming into this new their eyes are dazzling in the local blockchain

This there it's like yo man chill we've been living in this you know since the day were born and it's the that's how I look at it now so you know if it's does it need to be on a block changes that need – does it need staking

Does it need this does it need that no it doesn't you know it's like you as I said before my you know look at your airmail points it's err more points who gives a you know but we can make it sound

You know we can say American Airlines are partnering with ADA to you know to secure their their mileage point of this the whatever man you know might I have to say is one of the transparency and I love the candid nature of what

We're talking about because you pull no punches and you certainly are not here to talk more now with regard to the bags like if we take that position for a second you know and we acknowledge that there's a lot of collusion there's a lot

Of you know questionable conduct a lot of you know arguably the startups that don't have necessarily that core in inherent value an intrinsic value of utility or technology how does that work when you try to you know speculate how

Does it work when you try to purchase assets in this face you know what are your bags and how do you approach it are you just openly willing to say look I just make moves based on price no look it's it all comes down to people and

Lots of people you know in you need to understand that people don't look at it like like I do and I know that I know that you know the Crowder the the the collective crowd of money it's it's usually blind you know

It just rushes into things it's like it's all based on hype it's all based on you know brand image all that sort of it's all based on pretty much and knowing that it's just looking for the next best the next best thing the

Next best what's interesting what hasn't been done it all comes down to that you know putting a rough valuation on it look most of the things that I've bought and sold literally have been when you when you really look at it

Worthless my even things little bit worth billions of dollars have been worthless at the end of the day look they don't really deliver anything it's just all of this all of this speculative money in there these things don't do

Anything they have no use but it's you know it all comes down to speculation so that's how a lot of these things dumber and as I said beforehand you know well back in 2012-2013 we're literally buying and selling things that you know

We knew were absolute crap but there's just so much money moving into these things looking for an opportunity the crowd just dictates things you know it's huge that's not everyone thought they were

Crap perhaps some of them thought that it had merit and jumped in on that narrative because I can honestly tell you that I was one of those people who you know come came in from a tech background or came in with that tech

Premise so you know I was really naive you know you clearly were ahead of the game when it came to seeing perhaps what you know people I didn't see but yeah now we're starting to see in 2019 things certainly become more transparent with

Whether we increasing pressure from the top down you know obviously the g-seven reactions to libre we're seeing our laws being passed in many countries to crack down essentially so do you see that all those moves as a good thing bit more in

Terms of trying to clean up some of these issues of speculation ruling crypto yeah it's a good thing my I mean I always said look we need we need regulation we need like you know clear

Click online stars and things like that but there's a limit to it you know it's like you're too much of it and nothing gets done you know it's like it's like trying to get work done in a corporation or try to innovate in a corporation a

Big corporation it's very hard for any any new ideas to really get through because there's so much red tape and there's so many different departments to go through it's very counterproductive same thing with you know introducing you

Know laws and governance so there's a fine line and I guess what it comes down to is is having a rough sort of framework in place and then of course people can take advantage of that and just you know dealing with these people

That you know take advantage of that the wrong way on a case by case basis until we get you know further down the track the last thing we want to do is startle innovation that's what a lot of companies work offshore they do things

Offshore it pretty much this is how it works right now you're doing crypto startup you think you can change the world or you know make some crazy tech that's going to do great go set up offshore don't serve US customers don't

Serve this that that country etc etc that's pretty much how things work right now so and you know and to pull things a clearer you know in those jurisdictions it'll just stay like that yeah and mate you have a lot of insights

In the space and I certainly have have been privileged to understand more of them economic annex that are internal to that this this crypto sort of beast that's emerged but what are your thoughts on things like for example

Market making and then we see you know ironically we're talking about this but the influence and power of influences trying to support that that that that narrative or the power of partnership announcements you know consistent ones

You know that are obviously designed to attract and garner attention you know what are your comments on that strategy we see that over and over especially with very liquid and startups two trillion I would argue trying to really

Grab the attention if not you know callers price movement it's it's just it's just nature you know you have a look at you have a look at a bird trying to get the attention of a mate it's gonna do a dance it's gonna do a show

It's gonna do it sing you know and it's like these startups they're trying to get attention they're trying to get like their themselves out there they're trying to grow user base they'll do whatever they have to you know and and

And I support that it's to within reason you know what I mean it's obviously not they're not doing anything malicious or trying to take advantage of people you know that's that's that's where you draw the line but you know they're gonna you

Know do announcements and do things like that look Cooper's not regulated like the real world so some of these announcements and look we've seen some pretty outrageous things from frog from

From certain individuals I mean have a look at Justin's son for example I mean these he's done some I don't have the word for a right now but I'm to go into that you know and look it just continues it continues and continues and and

That's a look at the end of the day I appreciate that I have a good laugh like I you know I can see through a lot of it and as I said this this it's just a big circus mate so you know companies would continue doing that

As they need to look most of the guys in the space they don't you know they don't shield they don't push these these low cap things anymore I mean back in the day look would push anything and everything and just like really really

Getting involved because you know it's just you're just going going going now it's different you know you you being a lot more you know thoughtful about the way things have done and stuff like that and just really trying to you know

Understand it's like okay well you need to you know protect people more you're not just in it for yourself now so it's you that is really cool of you to mention that because and we tend to see a lot of ego in the past whatever can

You know and we've seen certain operators in the space whether they're influences or whether they're you know some of the some of the teams even sometimes some of the visa people don't talk about or even exchanges a lot of it

Was for themselves now we're seeing people get wrecked over and over and over so there's more accountability and more caution but in the context of your bags when I talk to you about that it had

How willing our trains that you want transparently wants to be but you mentioned you're not really interested in those a liquid sort of low caps so what do you tend to look for you know in the metrics you use look I'm interested

In everything my look this the the problem is now that the it's things have scaled so back in the day you'd be looking at like a a two hundred and fifty five hundred K coin would sort of be like a almost like a mid nearly a

Mid-cap robber like one period nowadays it's it's utter you know it's utter I mean there's anything turned fifty five hundred K it's there for a reason the chances that it's gonna have the right people involved the right this to

Write that extremely low I mean look you got to understand people that have the skill in the space that have the ability let's say there's like you know five people on a team there's $500,000 isn't it isn't enough to be in a sense it

Ought to be an interest for you know for one person let alone five so you know you want to start looking at things like micro-cap so you start looking up around you know a couple mil sort of now and then you start things start to make

Sense but you know that's how the game shifted a little bit and certainly makes a lot of sense mate with regard to liquidity to sustain their plan if indeed they're working towards that you know that utility goal and mine shared

And proof but in the terms of real utility real volume as well get what I wanted to ask you about that because there's a lot of suggestions from you know reasonable papers or sound research let's say that suggests that we're not

Seeing real volume across the board in fact the real volume perhaps of all the crypto is when in the inner broader scheme of things so what are your thoughts on that

And do you think that you know it would shock people to see the true and authentic volumes that exist in this space same sure we heard for years now I mean people saying that there was this fake vol you on mint Powell and polo and

Every exchange Under the Sun since the dawn of time and look or they say a new one of my favorite it's a fake wall you know a fake wall well me it can't be fake if I can buy it or I can sell into it it's there

I can hit it right now it ain't fake maybe it's going to move if I put a big bead next to it or and ask near it it'll move it may be a spoofing the books but it's real and and you can and you can access it in regards to the volume

There's a lot of look of course is questionable questionable volume in crypto there's questionable volume in the stock market in the Forex running commodities everywhere there's always going to baby you know it's also the

Things happening this is a real world you have to admit that but look is obviously some exchanges they started out you know doing things dodgy and there's all sorts of things going on there and so to this day there's there's

Some exchanges that you know they like to say that they they are doing real volume and things like that when in actual fact you can look at just how consistent the volume is it's like that the whole time that's not that's not

Organic that's not real all that is is its box just painting it you know painting a real volume it looks like this well you know it's like all over the place that's with the natural price movements

Where you know anything too consistent is obvious super obvious now I've seen some crazy fake volume on exchanges where it's just like oh my god you told me how is the coin that has a 60 million dollar market cap have 100 million

Dollars in volume consistently you know through the course of a month or on the course of in the two weeks exactly that is up and as it can happen because we're in an unregulated environment which could be you know the

Playground for that kind of conduct still because even if the SEC and CFTC FTC cracked down one of those the rest of the world doing you know there's always havens for these parties to decide and and at yeah of course I mean

Look you know Barney's was a hot spot for this and they and in reality they sort of fostered of all of this stuff with the volume comps and things like that where they say you know whoever trades the most volume in

This in this in in this pair will get this or that or whatever the case and that's like so hard on you're telling me I should be buying and selling more than I need to and to get the incentive doing whatever the I need to to get this

Prize or to get this it's like don't know about that you know I don't know and and and it was a look well it does it's just it's hollow you know it doesn't actually it doesn't actually do anything for that for that coin for that

Token everybody's just sitting there you know I guess it brings the liquidity to the market but I want always what credit yet it's not it's not real bright real and that's how I look at ya and regard yeah I might I want to talk to you about

Du/dx because you certainly been very vocal about that and want to get into some details of it but before we do I just want to ask you what are your thoughts on when people are aware of some of the problems you know which is

Never had I have to start up or they haven't done let's say their due diligence but they just look at the metrics they look at the potential for it to be shield and they invest in that before they start to shill it whether

That be an influencer whether that be a VC whether that be you know any party doesn't really matter but I what I really want to get your taking Nick's taking this because you're really open about the fact that we're in this casino

But what are your thoughts on those that invest and that with the out due diligence knowing that it could just simply be pushed you know really substantially with the right community with the right sort of you know back-end

Team yeah well I think mostly it's like okay okay you're gonna you're gonna buy something you're gonna have a look you're gonna like you know you're gonna research you're gonna do your stuff you're going to get invested in it when

You're invested in something you've got an incentive you you're you sort of you know push to to speak well of it you know how to go ahead and you know perceive it in a positive light and anything that comes bad to

It's it's something that we can figure out that that's a mentality behind it when you're invested have a look at people that invested in big connects you know they've got the money on the line but they're getting the basically in a

scam that the whole world is telling look guys I'm telling you it's a scam it's a scam and look I'll tell you now there's some prominent you know influences that we connect trap in the time but we said y'all bro this is a

Scam it is clearly a scam but they're getting paid big money so they look the other way or the delusion kicks in and it makes no sense no it can't be a scam I'm making so much money so that's like the extreme end of things

Exactly we need the extreme end of that delusion and might be for us how does it make us an asshole if we speak out though I really want to ask you that because you're vocal you know you say you speak your mind and I've done that a

Few times and being labeled you know controversial for literally you know arguing against sparkster for example which to me was akin to bit connect so at what point you know do should we be speaking up or should we at all whatever

Comes in so you know – it will – it would the green you know like I mean the thing is you're not always gonna be right you're not always gonna be like accurate but who is man it's like you know people people can always people

Always gonna judge you when she you know people always gonna try to you know when it suits them they'll find the worst of you and put it out there for those say look this guy's an absolute animal what a piece of you know

They'll put the worst out there you can do that for literally any person I could find dirt on anyone in the world so you know and you could look bad but you know that's that's when it suits them the ended look you know – people deep down a

Good people have good intentions of course there's some assholes out there but even assholes can be good people so I just feel like you know you you can only do you and of course you're gonna be wrong cause you're window

Smart and when you really what about you but bit Lord you're pretty local you mentioned Bitcoin a bit connect before let's fast-forward if you saw something like that today you know with a group of mates you

No in this face let's say me for example say I'm the bad actor wouldn't you call me out because you know that I'm you know I'd be yeah chilling the out of something that's a lot of yeah get rekt I mean you know let's say I'm

On Twitter and I'm just like you know scrolling on you know door my thing and then I see something pop up like your core with the is this doing you know that's how yeah and and that could be as far as it goes you know cuz I mean

I'm Christian all my energy all my time on that because I'm still doing my thing you know but yeah generally want to see something that's you know you know like I'll just comment I have to see something really funny like you know

Hilarious or retweet or say something or see something really dumb like the farc or you know it's just like it's just like a social interaction you know but I'm not gonna I'm not gonna I'm gonna I'm not gonna start a crusade on it you

Know I don't have time got it and I really respect that you've lighten things up I tend not to I tend to really look at things and worry about those parties that are vulnerable and don't have the time their time poor and don't

Really understand necessarily all the things that they've invested in but I really hear what you're saying well you can't save the world man you know you can't you can't right now my dude X you let's get into this just

Briefly I know you've got to go soon but dude X is the the hot word of the day for you with regard to you supporting them now they're a cryptid River derivatives trading platform tell us more mate about this without silliness

Well I'm sure it comes down to look you know have a look at the derivative space huge market huge potential and a lot of these exchanges they're not doing things right by their users they're taking advantage of their users a lot of them

If not all of them they're running internal trading desks so what that means is they're basically trading against their customers that's exactly what it is they do it through the guise of providing liquidity they

Set up offshore companies subsidiaries whatever the hell they need to do but they do it on the same platform with the same technology and the same people involved they just you know do little bit of hocus-pocus and off we got

So you know a lot of times I felt like even and look look you know some of these exchanges they bootstrap they literally doing these other things a lot of this stuff is not exactly legal in the traditional world and I just feel

Like even it's you know if the skimming orders a couple cents or a couple dollars some people might looking at it's not that much you know I'm able to trade here but to me it comes down to

Principle and that's that's what rules crypto you know for the principle and the character so look my judith contacted me a while ago and i just saw hit the out of here another one of these exchanges or parties or something

That wants something you know and it gives so many of them with a and also whatever then something I don't know how it came up but I I realized that boy Wang was involved in it and I knew this guy from the 2013-2014

Etherion days I remember him back on the phones and you can tell someone's character by the way they interact think they do all the sort of stuff and I thought well this guy's solid and he's involved in if he's involved in this oh

I'm gonna take a closer look so I did and then I really liked what they were doing it's all about providing a fair and transparent trading platform for the traders so you know they don't run an internal trading desk they're literally

Creating is foregoing those profits and that to put me on the same level playing field as the next trader benefits and to jump in there because I wanted to talk about that internal trading desk only because there were

Other exchanges alleging that you had that and you know that and I'm gonna be talking with by which I'm really looking forward to to get in here I'm gonna depth of this and then me but you know how did you feel when you heard other

Other exchanges accusing judex of having that internal training desk okay listen listen to this right okay have a look at this exchange that did that have a look at just how I don't have what is the world like is it is it is a delusion is

It like confusion I don't know the exchange FTX they are on the bit max leaderboard they've for making you know like over 7000 BTC trading on bit max these people then went ahead to start up an exchange

Okay now this exchange popped up out of nowhere they haven't exchanged token so they have you know liabilities and it's another one of these utility things you know basically everyone when it's a copy

Bond it is now they're then knowing it's well known that they trade on their own exchange they do it through their subsidiaries they do it for all sorts of stuff to provide liquidity they get certain benefits like latency these guys

Are that they're specialized in arbitrage so so we're talking about the car which to clarify we're talking about elemina as opposed to the exchange so that there are yes distinct entities but there is a collect connection between

The two oh of course it's the same people the same technology on the same platform you can call it what you want it's the same exactly the same and they try to like you know duck and weave and do this and

That it's the exact same stuff so these guys are trading on their own platform against their customers move certain latency benefits you know certain other benefits that you know we're not going to speak about right now so I just find

That completely unfair and a lot of people do nobody wants to try it against a true you know the market and the exchange so the reason why FTX actually came out at Jude X is is because they're threatened by the

Business model they're obviously threatened by an exchange that provides a fair platform or whereas whereas they do not now the thing is very interesting when in this space have we seen a CEO come out and attack the CEO or or or

Novice only show that's why I want to mention that with you and just just to be clear when let you know also cook a bit Lord that I did contacts and the team FTX when you suggested subsequent to win do

Is to interviews you suggested the onion having them together and I contacted both parties and got feedback from both and it is important people understand that there is a interview with du/dx coming

Up with Bo the CEO but that will not be with FTX because they did decline to have that you know know that interviews though you know each to their right to decline but that's the reason why is because of well it doesn't look good no

It doesn't it doesn't look good for FTX I mean look the first thing is this this guy's Sam he's tried to he said they've spent a lot of money trying to make him look like a good but when he came out and he attacks due dates like that a

Small derivative derivatives exchange just literally trying to provide a fair trading platform for the people judex have never mentioned Sam they've never mentioned anything about FTX they just do their work so for when he came out

And attacked them like that and and look he caused he basically cherry picked you know different elements of FUD you know those like photo shops there was all sorts of like fake information in there he was

Using examples from knowing Twitter Twitter trolls that have been banned over and over I mean that's the sort of crowd this guy associates with so when he did that he really showed showed the community you know what what is what

He's basically made of and if you look at Jude X's response to that you know the the the interviews were both from Wendy that is a real CEO that is real character I did I do it I certainly did it I'm basing a lot of my questions on

Some of that feedback when I do speak with both so obviously my antenna will be to be extremely objective and I will certainly endeavor to provide a means in which Bo can respond further and deeper but when it comes to issues of legality

When I talk to get that because if TX are also going through their own lawsuit there are their own lawyer pursuits and you know in the context of naming shaming and raising issues you know did Bo or any of the team at judex

Consider a legal response because these were serious allegations and I'm not suggesting I know the answer to any of this because I don't but there's no question that making broad statements like that from a CEO has serious

Implications to a start-up it's just an urgent I mean the thing is this guy's so far off the radar it's like he's he's a nobody you know what I mean it can he's just showing himself as a

Troll any look he can say these sort of things and make himself look like an idiot it's got you know it's not going to impact Jude acts it actually it does positively because people look I mean

He's basically advertised Jude acts to everybody he's in exchange that's trading against their customers you've just spoken about an exchange it doesn't run the internal trading desk there's actually the allowing even just through

My referral link I had a whole bunch of new signups through that period and I actually went to the extent of creating Sam his own custom judex slash Sam affiliate link so next time we talk in user and actually profit from his fun

Yes I saw you Twitter about that which was yes I noticed that's that's the Aussie of you know my with regard to let's go back to Judy axe you know let's focus on that book all right let me finish let me finish on the on the same

Thing right okay okay this so he never I never understood right I mean there's a exchange that's got a 150 million dollar lawsuit for market minerally manipulation fraud I think there's bracket hearing all this other stuff

That they have to answer to why in the world are you two attacking another exchange there has their ducks in a row that's clean when you've got dirty laundry and you've got out in the open that makes no sense no sense

Whatsoever so very very confusing very confusing behave yeah but it's only been see I don't know what we don't see a lot of it in yeah even in cryptid Twitter which is very toxic sometimes we don't tend to see these attacking each other

So you are right there an exact but a lot more play yet I think I think it could stem from you know potential drug use for something like that I know quant traders they are like junkies ahead there a lot of me use adderall if even

Meth in some instances to stay awake to continue you've know doing their job so it could have just been who knows and was coming off a bender I don't know you know I'd like to say that was like let's let's not go there let me answer that

One but next might because one of the things that Sam did allege was that there was questionable you know liquidity he talked to bear question Volume II wanted to know where it's all

Coming from Bo explained that it comes from third party market makers and that this liquidity providers there what do you want to say with regard to the imperative of building liquidity for a you know a small start-up in a small

Team that are trying to build this kind of derivative platform yeah it comes down to look you know you've it's very easy to go ahead and trade against your customers under the guise and provide the liquidity under that guy so you know

Very smart of them to do that they basically take their money from giving and instead of giving their money to BitFenix a bit mixed they're not you know hedge their bets against retail very smart highly questionable thing now

When you're trying to bootstrap an exchange you know you need to onboard you know market – obviously there's a make and taker incentive but the thing is what they want they want users they want people using the exchange that's

You know that's how they do things because they're taking that rebate you know when you when you go ahead and hit the books or whatever so that's what's the challenge I mean I know there's like a few you know different different third

Parties that are coming on to provide liquidity but for them it's ultimately it comes down to you know getting getting those users in and that's what the the big thing is you want people trading on the exchange because that's

How those might make use of like what's clear is when you start as well we see this with all of the you know emergent exchanges whether they be for derivatives or other and they are doing things like strategic marketing getting

Ref links you know for certain parties to get the the narrative and the name the brand all out there now whether or not people argue that's good or bad it's up to them but certainly dudx any FTX and many of the others focused on that

Kind of strategy so talk us through due dates you know what's the plan forward with regard to the marketing getting people to you know experience this in terms of use because obviously that's third party liquidity is happening you

Know and there's more onboarding from what Bose said to increase liquidity but you know yeah I mean look there's a there's a lot of interesting look I managed to get a closer look at what's happening and there's some really

Interesting stuff coming you know over the next couple couple of weeks months and into 2020 so I don't you know I don't speak a lot about you know what goes on traditional like you know that's been the wife since I've done things for

The early days you know I just like to you know do my thing separate and then ship hoist you know enjoy myself on Twitter and that's pretty much what I'll continue to do you know but what I can say is that there is

A product feature coming out from GX that is going to it's going to change the the crypto trading space big time it'll have an impact on Forex it'll have an impact on stocks and commodities that is the product that will be coming out

It's a very very useful thing and people will come to trade on judaics for that now certain things will be in place to protect that and it's gonna be very exciting watching everything unfold so you know that's gonna happen over the

Next let me say 8 to 8 to 12 weeks so it's gonna be it's gonna be fun coming to 2020 and then look at the end of the day it's just gonna be you know more more things are gonna be happening that's all something more things cool

Things fun they're playing it's like if you certainly know a lot more may I feel like I'm talking to someone in the core team you know often get these kinds of a very you know superficial responses when they know that there's a lot more meat

And more you know guts to what this alluding to but I respect it you know obviously give insights being part of you know I'm just you know I'm just the me mate I've got a PhD in shoe posting and you know I pay attention I just pay

Attention to things and it's like you know even you take a de for example early days of beta I had a look at child foreskin Church house was consider a great guy did lost nobody I mean he did a lot for a theorem and he was robbed

Largely of his rolling up and I I always said to myself whatever this Court does I'm gonna get on I'm gonna get on and it's it's the same principle yeah there's there's good people there's really good people at the core involved

In that and it comes down to you know backing the right people and if there's like a good enough structure in place the rest will just happen magically and thus I believe the universal work so well said my own obviously underneath

The people who there has to be the tech you wouldn't have that child without peer reviews you wouldn't have that scene without obviously looking at you know his credentials and his capacity to you know France Italy I'm sorry actually

I did one thing I didn't want to let you know is when I think they bow I'll go into detail and talk to me about the matching engines look at explore the tech and really yeah into all the things we didn't have time for today but crypt

A bit more thank you might for firstly just the candid discussion it really is invaluable and I mean that they are trying to you know ask kiss because we just need more people being real saying things like they are and you never

Actually didn't I don't think you always upheld that sort of direct you know sort of a cultural approach that we can to take as Aussies some don't like it but you certainly are writing there right in the mix you're well-known and I thank

You very much for this conversation it's been quite open well thanks for having me on here mate I really I really enjoyed it just kickin back you know talking some crypto having a laugh that's it man I mean it's been it's been

A good time I've enjoying myself so thanks for having me on anytime man you're always welcome back on but those who don't know exactly it'll look for make sure you go to crypt crypto bit Lord on Twitter he is very

Much known and there's a lot of interaction everyday in his Twitter account and obviously look for other links as well because there's certainly a lot more than just that footage with it when it comes to both his knowledge

And you know we represents though the Aziz in terms of crypto trying to bring it you know in do our best rip the space and do your very best mate to continue forward and speak up when you need to about the good the bad the ugly and

Everything between in crypto that's it mate respect take care for express our semi

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