Gadgetory

welcome to the program ladies and gentlemen let's get right to it we're super psyched back on the program SRX went around and oh yeah and your fancy new digs dad are you impressed now I'm very impressed yeah i'm waiting for Sally Jessy to come out right ask me about my childhood I I want to really hear your kind of crash course 101 about what the hell bitcoin is I i understand it only so far a lot of our listeners we talk about this all the time we've had financial analysts on the show talking about it I want to hear from you you're doing the research you're in production what the hell is Vic what is Bitcoin where does it come from ok you're like money in a vault somewhere that represents bitcoins how does it all okay how it works I'm not going to give you there's really really great now that we've further down the road there's really good if you you go to youtube and google what the hell is Bitcoin it'll like walk you through I'm sort of the same thing I do it download it i don't want to kind of bored people with like hyper technical stuff sure basically you know we live and this is what my movies about we live in an era of cryptography um you know the the internet itself was sort of architected around cryptography and it's taken a while for that to actually enter our lives in a fundamental way sure and when i say the shiny object about the Deep Web and the dark net is that what's happening in the in the media just like with Napster was like it's piracy it's free Madonna songs it's like that was a shiny object and over here there was this quietly there was hundreds of millions of people creating mobile cute right it's a little bit more important than pulling a Madonna debt track down for every right and what's happening is that everyone's going oh you know they're selling drugs online and people using this Bitcoin thing to buy drugs and it's like no I mean that yes they are just like they're using you know US currency to buy shares people use various forms of exchange to purchase drugs this is a known fact it's been happening for a wife or a little while just as there has been drugs online for a little while just a little bit yeah like you know since it first showed up so sort of notion that bitcoin is somehow this nefarious thing that allows you to go and buy drugs is so completely ludicrous it's it's laughable and we will dispel that debunk that myth quickly in the baby what you have is you know is a cryptocurrency and what that means in a nutshell is that is that it was created it's an open-source peer-to-peer technology it's created to 211 what makes Bitcoin work is that how do you create an exchange a cyber exchange that doesn't allow for repeat spending how do you know that once you spend one Bitcoin you can't say ok now I'm going to go spend the same one over here and the same one over here and you're never going to know and that's where cryptography comes in which is usually tied to a two-factor system or some way of creating a bounce-back a private key a public key you can google all this stuff it's really basic once you get your arms around you