LETS TALK BITCOIN

Episode 103 Seek and Find

Participants:
Adam B. Levine (ABL) Host
Stephanie M!ph" (SM Co#host
$avid I!vine ($I) %onde! o& MaidSa&e
Tatiana Mo!o' (TM) Sin(e!) son(*!ite!
T!a+e Ma"e! (TM) Ent!ep!ene!) investo!) atho! o& ,The -!eat C!edit Cont!a+tion
ABL: Toda" is Ap!i. //
nd
/012 and this is Episode 103. This p!o(!am is intended &o!
in&o!mationa. and ed+ationa. p!poses on.". C!"pto+!!en+" is a ne* &ie.d o& std".
Cons.t "o! .o+a. &t!ist) .a*"e! and investment adviso! 4e&o!e ma5in( an" de+isions
*hatsoeve! &o! "o!se.&.
6e.+ome to Lets Ta.5 Bit+oin) a t*i+e#*ee5." sho* a4ot the ideas) peop.e and p!o7e+ts
4i.din( the di(ita. e+onom" and the &t!e o& mone".
M" name is Adam B. Levine and toda" *e!e han(in( ot *ith Stephanie at
MediaBist!os !e+ent Inside Bit+oins Ne* 8o!5 event. Tatiana Mo!o' is a sin(e!)
son(*!ite! and &!iend o& mine. I to.d he! a4ot the A!tist+oin idea *eve dis+ssed
p!evios." on the sho* and) *ith the he.p o& the &o.5s at Maste!+oin) de+ided to ta5e
the p.n(e as one o& the ve!" &i!st. 9Its so!t o& .i5e a +!o*d sa.e o& m" &t!e *o!5
and the +ontent that I +!eate.: Stephanie +a(ht p *ith Tatiana to ta.5 innovation and
the A!tist+oin spa+e and *hat +omes ne;t.
9I he.p &nd Bit<a") A!mo!" and K!a5en. Those a!e the th!ee that Im he.pin(
in+4ate) and *o!5in( *ith) and &ndin( and *ith A!mo!") *e.. 4i.din( ot the
a+ta. &ondation *he!e "o +an se+!e "o! p!ivate 5e"s.: 6e +.ose p toda"s
episode *ith ea!." investo! T!a+e Ma"e!. He and Stephanie ta.5 o!i(ins and
ot+omes) the impo!tan+e o& se+!e) open so!+e in&!ast!+t!e and the p!o7e+ts he
spends his time on.
Bt &i!st) "o mi(ht have hea!d o& a .itt.e thin( +a..ed the de+ent!a.i'ed Inte!net. No=
Meet $avid I!vine. One o& the minds 4ehind the MaidSa&e p!o7e+t. 9%o! instan+e) i&
"o had !o4ots) "o +o.d tea+h one %!en+h) then the" *o.d a.. 5no* %!en+h in the
*o!.d) immediate.". I& "o tea+h one ho* to do C<>) the" a.. 5no* ho* to do C<>.:
Its anothe! .on( one. Lets (et into it. ?1@2AB
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Stephanie Murphy interview with avid !rvine
SM: This is Stephanie &!om Lets Ta.5 Bit+oin. Im he!e at the Inside Bit+oins Ne* 8o!5
+on&e!en+e and its m" (!eat p.eas!e to ta.5 *ith $avid I!vine. He is the &onde! o&
MaidSa&e) the CEO and &onde! o& MaidSa&e. ?/@03B
!: Hi Stephanie. Ni+e to see "o. ?/@0DB
SM: Than5 "o so m+h &o! 4ein( on Lets Ta.5 Bit+oin. $avid) eve!"4od" he!e that Ive
ta.5ed to "este!da" and toda" is ta.5in( a4ot MaidSa&e) .i5e the!es a 4i( 4'' a4ot it.
Eve!"4od"s e;+ited a4ot it and I *ant to 5no* *hat it is) &o! some4od" *hos neve! hea!d
o& it) "o! ta(.ine is so!t o& "o!e de+ent!a.i'in( the Inte!net. MaidSa&e is (oin( to do &o!
data *hat Bit+oin does &o! t!ade. Te.. me mo!e a4ot *hat MaidSa&e a+ta.." is. ?/@31B
!: It 4asi+a.." is *hat *e sa" it is. Its the de+ent!a.i'ation o& a.. Inte!net se!vi+es. It a..
sta!ted man" "ea!s a(o) 7st 4e&o!e /00A) *hen *e .oo5ed at the Inte!net and tho(ht this is
Eite a st!an(e thin( 4e+ase a.. o& the +ompte!s in the *o!.d a!e +onne+ted to eve!" othe!
+ompte! 4t &o! me to spea5 to "o) I have to (et pe!mission &!om -oo(.e) o! *hateve!) and
in&o!mation (oes &!om me to them to "o and ma"4e the" .et me in and ma"4e the" dont .et
me in. Ma"4e the" monito! m" in&o!mation) ma"4e the" dont. 6e tho(ht this is ve!"
st!an(e and I too5 a +op.e o& "ea!s to thin5 a4ot it. It *as Eite inte!estin( 4e+ase Im a
5ind o& >i+ha!d %e"nman &an and one o& his statements is@ I& "o!e doin( somethin( that
"o +ant &ind in nat!e) its *!on(. Then !ea.i'ed in 13 F 4i..ion "ea!s) nat!e had neve!
+!eated a se!ve!#4ased in&!ast!+t!e .i5e *e have on the Inte!net toda". Then) I .oo5ed at the
+ompte!s and said i& "o a+ta.." ta5e a.. the +ompte!s and 7st +onne+t them to(ethe!) its
m+h mo!e po*e!&. than an" o& these .a!(e o!(ani'ations +o.d eve! d!eam o&. The!es mo!e
sto!a(e) the!es mo!e C<G +apa4i.it". I .oo5ed 4a+5 at *hat *e have and tho(ht *h" sho.d
I have to as5 an"one to 4e a4.e to +ommni+ate *ith an"one e.se= 6h" +ant I 7st do it
4e+ase it 4e.on(s to s a..= Then !ea.i'ed that i& a.. o& the +ompte!s +onne+t to(ethe! and
*e!e spp."in( a.. that +omptin( !eso!+e) then the peop.e sho.d have &.. !i(hts to se
that. The dea. o& 7oinin( the Inte!net sho.dnt 4e 4et*een "o and a thi!d pa!t" +ompan"H it
sho.d 4e 4et*een "o and the Inte!net. 6e 5ind o& &i(!ed *hat *e have to do is (et a.. the
+ompte!s to 7oin to(ethe! in some 5ind o& (.o4a. +"4e! 4!ain a 4it .i5e the 4.o+5+hain does
&o! t!ade) is !ea.." (et a.. the +ompte!s to(ethe! in a manne! that the" +o.d p!ovide a.. o& the
*o!.ds !eso!+es to eve!" individa. pe!son. Thats !ea.." *he!e the MaidSa&e sto!" sta!ted
and then it too5 a +op.e o& "ea!s to p.. it a.. to(ethe!. I had to disappea! o&& &o! ei(ht
months to a p.a+e that didnt spea5 En(.ish so that I +o.d t!" and +a.+.ate some o& this st&&.
?2@21B
SM: Gh hh. ?2@2/B
!: I 5ne* it *as (oin( to 4e +a.+.a4.e. <eop.e *o.d sa" He") "o!e insane.
Compte!s (o o&& and on a.. the time. The!es ha+5e!s the!e and the!es peop.e sp"in( on "o
and a.. the !est o& it. 8o.. neve! 4e a4.e to do it. That to me *as a +ha..en(e that I .oved so
I *ent a*a" and did this. It *as Eite inte!estin( 4e+ase the!es a &e* !ea.." ha!d thin(s that
"ove (ot to so.ve. Th!ee main thin(s one is) ho* do "o ma5e data so se+!e that no4od"
+an !ead it e;+ept "o= Ho* *o.d "o sto!e that data on m.tip.e +ompte!s) *hi+h s*it+h
o&& and on the *ho.e time= The se+ond pa!t *as !ea.." 6hat does this +"4e! 4!ain do=
6hat does it .oo5 .i5e= Ho* +an a.. the +ompte!s !e+o(ni'e ea+h othe! to 4e a4.e to te.. is a
+ompte! (ood o! 4ad= Is it doin( a (ood 7o4 o! a 4ad 7o4= That atonomos net*o!5 *as a
ve!" di&&i+.t pa!t o& it) so *e did that. The .ast p!o4.em *hi+h *as p!o4a4." the to(hest
one *as OK) *eve (ot hi(h." en+!"pted data on a net*o!5 thats atonomos and .oo5s
a&te! itse.&. Ho* do "o .o( in to it= 8o!e a pe!son .oo5in( at this net*o!5) so the!e a!e no
se!ve!s) the!es no .o+ation &o! "o to send a messa(e to) to sa" Let me in. Thats *he!e *e
had to +ome p *ith a se.&#athenti+ation me+hanism *hi+h is !ea.." (ood 4e+ase "o sto!e
a pie+e o& in&o!mation at a 5no*n .o+ation on." to "o on the net*o!5 that "o +an do*n.oad
&!om an" +ompte!) i& "o as5 &o! that .o+ation. That t!ns the +ompte! "o!e *o!5in( on
into "o! +ompte!. ?A@1IB
SM: OK. The .o+ation *he!e the data is sto!ed 4e+omes ana.o(os to a p!ivate 5e" that "o
have to have in o!de! to a++ess "o! data and its on." 5no*n to "o= ?A@/IB
!: 8es) ve!" simi.a! to that. Ho* "o +!eate that a.most p!ivate 5e" is "o pt in a +op.e
o& pass*o!ds that on." "o 5no* and the +.ient so&t*a!e *i.. manip.ate the in&o!mation "o
(ive it and do*n.oad &!om that 5e" spa+e some in&o!mation and then anothe! pa!t o& "o!
.o(in de+!"pts that in&o!mation .o+a..". That means the de+ision to sto!e "o! a++ont
in&o!mation is +omp.ete." "o!s. Lo((in( in o! +!eatin( an a++ont on a MaidSa&e net*o!5 is
the e;a+t same s+!een. 8od pt in a +op.e o& pass*o!ds) "o!e +!eatin( an a++ont) o!
"o!e pt in a +op.e o& pass*o!ds and "o!e !et!ievin( an a++ont. That means) !ea..") "o
+an *a.5 p to an" +ompte! o! ta5e an" mo4i.e phone) .o(in and it 4e+omes "o! mo4i.e
phone o! "o! +ompte! &o! the time "o!e sin( it and then "o *a.5 a*a". I thin5 thats
p!o4a4." one o& the most att!a+tive thin(s a4ot the s"stem is the dea. is 4et*een "o and the
net*o!5 and no4od" e.se. 8o 7oin *hen "o *ant and "o dont 7oin *hen "o dont *ant
to. The +ont!o. is +omp.ete." "o!s. I thin5 this is one o& the isses *ith so+iet" these da"s
that i& "o *ant to ma5e some4od" ve!" st!essed) "o ta5e a*a" thei! +ont!o.. 6e do that in
-antanamo Ba"H *e ta5e a*a" peop.es !i(hts and pt them nde! intense st!ess. That
happens on the Inte!net 4e+ase "o +an 4e 4anned o&& the Inte!net i& "o sa" somethin(
some4od" doesnt .i5e. This s"stem) *hen "o 7oin) no4od" 5no*s "ove 7oined. The
net*o!5 is a*a!e that "o!e the!e and it +an +ommni+ate "o! in&o!mation to "o! &!iends
that on." "o 5no*. Thats !ea.." the *a" the Inte!net sho.d have 4een at the ve!" sta!t and
it set ot to (o that *a" 4t it &e.. 4" the *a"side and +ompanies +ame in and sta!ted t!"in( to
moneti'e this so!t o& s"stem) and adve!tise to "o) and ta5e "o! in&o!mation) and stea. "o!
data) and sp" on "o. Thats not a ve!" nat!a. *a" to !n an Inte!net. Its a te!!i4.e *a" to
!n a net*o!5. The net*o!5 sho.d 4e !n &o! the peop.e 4" the peop.e and on." the peop.e
sho.d sa" *hat the" *ant to do on it and *hat the" dont *ant to do on it. Thats !ea.."
*hat MaidSa&e has 4een a4.e to a+hieve. ?I@20B
SM: 6o*J 6e!e not ta.5in() o4vios.") a4ot .o((in( into a 6indo*s +ompte! o!
somethin( that !ns iOS. This is a +omp.ete." ne* ope!atin( s"stem *ith a.. ne* apps that
have to 4e 4i.t on top o& it 4t !ea.." *hat "o!e ta.5in( a4ot is a too. that *o.d ena4.e
some4od" to do an"thin( the" +o.d do on a no!ma. +ompte! 4t its a.. dist!i4ted) and its
a.. a++essi4.e on." to them) and its a.. p!ivate) and its a.. nde! thei! +ont!o.) !i(ht= ?K@0IB
!: A4so.te.". At the moment) it *i.. !n on top o& 6indo*s o! iOS) o! an" ope!atin(
s"stem. The .o(i+a. +on+.sion is it *i.. 4e+ome a &.. ope!atin( s"stem itse.&. 8o!e !i(ht.
Eve!"thin( is +omp.ete." nde! the +ont!o. o& that pe!son. Thats p!o4a4." the most
impo!tant aspe+t o& it is its 4et*een the individa. and the net*o!5. Thats e;a+t." *ho
ma5es that de+ision and its .o(i+a.." +o!!e+t and that then 4e+omes somethin( that "o do
&ind in nat!e. Ants *o!5in( to(ethe!) the" dont (o th!o(h thi!d pa!ties o! i& "o see &.o+5s
o& 4i!ds &."in( to(ethe!) the" dont as5 ea+h othe!) the" 5no* ho* to do this. Its a m+h
mo!e nat!a. s"stemH its a .o(i+a. s"stem and it ses !eso!+es in a m+h 4ette! *a" 4e+ase
the se!ve!#4ased s"stem) as *e.. as .osin( a.. that +ont!o. and pttin( peop.e nde! st!ess and
d!ess !eEi!es data +ente!s. $ata +ente!s se a4ot 1.DL o& the *o!.ds e.e+t!i+it". Thats
in+!easin( at A0L a "ea!. 6eve p.((ed on to a ve!" nat!a. s"stem) ve!" nnat!a. items
.i5e se!ve!s and data +ente!s. The +ost o& them to the e+o.o(" o& the p.anet is 7st !idi+.os.
Its an e+o.o(i+a. disaste! *hat *e!e doin( 7st no* as *e.. as ta5in( +ont!o.. ?10@/DB
SM: It +an !n on top o& e;istin( p.at&o!ms 4t eventa.." its (oin( to evo.ve to*a!ds its
o*n ope!atin( s"stem and a.. o& its o*n apps and thin(s that peop.e +an do. The ne;t
Eestion I (ess 4e+omes ho* do "o in+entivi'e peop.e to +ont!i4te +ompte!in( !eso!+es
to this s"stem that *o.d a..o* eve!"one to a++ess the MaidSa&e t"pe o& envi!onment=
?10@D0B
!: Thats a !ea.." inte!estin( Eestion. 6e *e!e spea5in( a+ta.." to a (" !e+ent.") one o&
the &onde!s o& Ka'a! and S5"pe) *ho had the e;a+t same isse. 6h" *o.d peop.e 5eep
+ompte!s on in the S5"pe net*o!5 to 5eep the S5"pe net*o!5 (oin(= 6hat S5"pe &ond
*as peop.e do it 4e+ase the" *ant the net*o!5 to e;ist. 6hat *eve done has ta5en that a
step &!the!. Li5e Bit+oin has mine!s) *e have *hat *e +a.. &a!me!s) and these a!e peop.es
+ompte!s *ho 7st +onne+t to the Inte!net and &a!m) so the"!e .oo5in( a&te! data and the"
(et paid &o! .oo5in( a&te! the data. ?11@/DB
SM: %a!me!s) thats +te "eah. (La(hte!) ?11@/MB
!: %a!me!s. It !ea.." means i& "o do*n.oad an app.i+ation) "ove (ot MaidSa&e !nnin(
on the Sa&e Net*o!5 as it is) o! mai.in( .ist is 4i.din( ve!" Ei+5." and peop.e a!e no*
+a..in( Sa&e Net*o!5) thei! net*o!5. Its not MaidSa&e an"mo!e) *hi+h is one o& o! (oa.s.
I& "o do*n.oad an app.i+ation) .i5e sa" a sto!a(e t"pe app.i+ation) $!op4o; t"pe thin() a.. o&
a sdden its &!ee. It sho.d 4e ve!") ve!" simp.e to se) it sho.d 4e stnnin() n.imited in
spa+e and in+.de p!ivate messa(in( and sha!in( and *hat not. Somethin( .i5e $!op4o; 4t
m+h .a!(e!) m+h mo!e po*e!&. and mo!e e&&i+ient. Additiona..") *hat that $!op4o; t"pe
app.i+ation *o.d have is a *a..et on it and "o *o.d 4e do*n.oadin( this app.i+ation and
thin5 thats (!eat) Im !ea.." happ") its a &antasti+ e;pe!ien+e) I 5no* that Ive not .ost an" o&
m" data se+!it") o! *hateve!. -ood (!ie&) its a.so pa"in( me mone". This &!ee so&t*a!e that
"o se *i.. a+ta.." sta!t pa"in( "o mone". It *i.. pa" mone" th!o(h Sa&e+oin. The
!eason it is doin( that is 4e+ase "o!e p!ovidin( a !eso!+e to the net*o!5 *hi+h is a
va.a4.e !eso!+e. The se+ond pa!t o& that sto!") I thin5) is even 4ette!. The!es 4i.de!s on
the net*o!5) so the 4i.de!s a!e the app.i+ation deve.ope!s and i& "o de+ided to 4i.d a
8oT4e app.i+ation) &o! instan+e) on the s"stem) o! a $!op4o; app.i+ation) o! a -oo(.e t"pe
app.i+ation) "o! .o+5) "o! *a..et add!ess into that app.i+ation as the 4i.de!) as an open
so!+e deve.ope!) o! +.osed so!+e) it doesnt matte!) as the net*o!5 itse.& +an te.. *hat
app.i+ations a!e s++ess&. on it and ho* m+h data is 4ein( moved a4ot *ith that
app.i+ation) the app.i+ation deve.ope! a.so is paid in Sa&e+oin. That !ea.." means that *eve
&ond an ans*e! to the open so!+e +onnd!m o& ho* do "o p!od+e app.i+ations in an
open so!+e envi!onment "o (et paid. ?13@/DB
SM: Ahh. ?13@/DB
!: >athe! than sa"in( to open so!+e peop.e) no* "o mst 4e+ome +ons.tants) o! sppo!t
o!(ani'ation) o! somethin() *hat *e!e !ea.." sa"in( to these app.i+ation deve.ope!s is) 4e
4i.de!s and 4e ve!" (ood at 4i.din( 4e+ase thats *hat "o +an do. 6e dont 5no* i&
"o!e (ood at +stome! sppo!t) *e dont !ea.." +a!e. I& "o 4i.d an app.i+ation *hi+h is
stnnin( and peop.e se it) the net*o!5 pa"s "o &o! that. <eop.e a!e (ettin( paid &o! !nnin(
an app.i+ation) 4i.de!s a!e 4ein( paid &o! p!ovidin( app.i+ations and the net*o!5 se.&#&e.s)
so it a.. 4e+omes an e+os"stem in its o*n !i(ht. Thats a pa!ti+.a!." inte!estin( pa!t &o! me.
Its p!ett" e;+itin( a+ta..". 6hat *e!e doin( toda" at 2.1Dpm is *e!e annon+in( this to
eve!"one to .et them 5no*. Not on." a!e *e annon+in( this and (ivin( the s"stem a*a")
the!es a +!o*d &ndin( thin() *eve no &onde! sha!es so MaidSa&e dont (et an" &onde!
sha!es &!om this. MaidSa&e is a +ompan") *i.. 4e+ome a 4i.de! on the s"stem. 6e!e !ea.."
sa"in( to peop.e) "o +an !n "o! *ho.e +ompan" on he!e) 4i.d &antasti+ app.i+ations and
"ove a.!ead" (ot a !evene st!eam 4i.t atomati+H "o dont need to thin5 a4ot that. 6e
4e.ieve in it so m+h that *e!e sta5in( o! *ho.e &t!e on it. 6e!e 4e+omin( 4i.de!s on
the net*o!5) 7st as an"one e.se +an 4e. I thin5 thats a 4!ave move 4t its a di&&i+.t)
p!o4a4." MaidSa&e move) o! a S+ottish move. I& its +o!!e+t and *e 4e.ieve it is +o!!e+t
(st!on(." 4e.ieve it is +o!!e+t)) *e *i.. eat at the same ta4.e as a.. o& the othe! deve.ope!s) so
*e.. a.. !e7oi+e in the 4ene&its o& 4ein( pa!t o& this ne* s"stem. Thats a .on( te!m (oa. &o!
s that *e!e a4.e to a+hieve toda". ?1D@1DB
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A"E#$:
Hi eve!"4od". Adam B. Levine he!e. Be&o!e I 4e+ame the pod+ast pe!sona.it" "o 5no*
toda") I sed to se.. envi!onmenta.." &!iend." &ood se!vi+e pa+5a(in() thats &o!5s) +ps and
4o;es made &!om o! .ined *ith p.ant#4ased p.asti+s and mate!ia.s. 6hat does this have to do
*ith Bit+oin= Its a4ot +!eatin( sstaina4.e s"stems. Its a4ot +.osin( the .oop. Im ve!"
p.eased to p!esent one o& m" .atest p!o7e+ts ***.4it+oinpa+5a(in(.+om. I& "o!e !nnin( a
sma.. 4siness and a++eptin( Bit+oin) dont 7st t!n them into do..a!s) spend them on *hat
"o! 4siness needs at ***.4it+oinpa+5a(in(.+om. <a" 4e.o* ma!5et p!i+e and (et a &!the!
10L o&& *hen "o pa" *ith Bit+oin. Come 5i+5 the t"!es and +he+5 s ot at
***.4it+oinpa+5a(in(.+om. ?1A@0IB
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SM: Its seems .i5e "ove a.!ead" had a .ot o& inte!est and 4'' &!om peop.e *ho a!e
e;+ited to 4i.d on top o& MaidSa&e) o! to 4e &a!me!s) o! to 7st se it. Is it !ead"= 6hen a!e
*e (oin( to 4e a4.e to sta!t sin( it= Thats *hat Im *onde!in(. ?1A@20B
!: 8eah) *e *e!e (oin( to a+ta.." pt the test net*o!5 p &o! toda"s sho*) *hi+h *o.d
have meant ta5in( p a pa!ti+.a! sho!t+t *ith +odes) *hi+h Ive said dont do that. The test
net*o!5 *i.. 4e p and !nnin( in the ne;t *ee5 o! so. 6e e;pe+t that to !n &o! ma"4e &o!
to si; *ee5s and peop.e +an test this ot. App.i+ation deve.ope!s +an sta!t 4i.din( thei!
app.i+ations to the A<I) then *e.. !n test net*o!5 / *ith Sa&e+oin p!od+tion) &a!me!s and
4i.de!s 4ein( paid. That) p!o4a4.") *i.. 4e anothe! &o! to si; *ee5s and then) *e (o on to
&.. .an+h. 6ithin the ne;t sho!t pe!iod o& months) the *ho.e s"stem *i.. 4e p and !nnin(.
>ea..") *e!e 5ind o& (.ad that *e!e doin( it this *a" 4e+ase *e dont *ant to o&&e! a &ete
a++omp.i to the !est o& the indst!". 6eve 4een (ettin( a .ot o& deve.ope!s *o!5in( *ith s
and *e!e !ea.." sa"in( Ho* do "o *ant s to *o!5= 6hats (oin( to sit "o ("s the
4est= The!es) as I sa") a4ot 1M0 o& them no* *o!5in( *ith s and *e (et (!eat &eed4a+5.
The ne;t t*o to th!ee months) *e sho.d see the *ho.e thin( (oin( th!o(h the test phase and
then 4e+ome !ea.. At the point it 4e+omes !ea.) the!e sho.d 4e p.ent" o& app.i+ations. 6e!e
hopin( 10) /0) 30 app.i+ations *i.. 4e !e.eased *ith the net*o!5. Thats (oin( to 4e a ve!"
e;+itin( time. ?1I@00B
SM: 8o to.d me that "ove 4een thin5in( a4ot this sin+e 1KKM and a+tive." *o!5in( on it
sin+e /00A) is that !i(ht= ?1I@0KB
!: 8eah. ?1I@0KB
SM: Ho* a!e "o &ee.in( (ettin( +.ose to the .an+h= ?1I@12B
!: Thats a st!an(e thin( 4e+ase this is the +o!!e+t thin( and peop.e a!e e;+ited 4" it and
the"!e sta!tin( to te.. s ho* e;+ited the" a!e. <e!sona..") I 7st thin5 8eah) thats (ood
4e+ase its the !i(ht thin( to do. This is the +o!!e+t +hain o& events and pe!sona..") I dont
!ea.." (et too e;+ited 4" these 5inds o& .o(i+a. thin(s that a!e +o!!e+t. Its a 4it .i5e *hen I
*as on the .i&e4oat (oin( ot in !o(h *eathe! to save someone *ho *as in t!o4.e at sea)
the +.ose! "o (ot to the +asa.t" and the *o!se the *eathe! *as) the mo!e &o+sed "o
4e+ome. I thin5 this is ve!" simi.a!. This is somethin( that is so impo!tant &o! hmanit" and
s as a spe+ies that the team a!ond s) and 4a+5 in the o&&i+e in S+ot.and) a!e n4e.ieva4."
&o+sed 4e+ase *e need to do this. This has to happen and it doesnt have to happen &o! s)
it has to happen &o! eve!"one 4e+ase o! imp!ession) *e ma5e this &!ee to the *ho.e *o!.d)
then the othe! D 4i..ion that dont have Inte!net +onne+tivit") o! peop.e *ho a!e pt o&& the
Inte!net) +an a.. +ome 4a+5 on it. I& someone do*n in A&!i+a) o! some o& the othe! poo!e!
+ont!ies) +an (et a++ess to this data) and a++ess to this +ommni+ation s"stem and sta!t
+!in( diseases) then thats a phenomena. !et!n &o! s. Thats eve!" 4it as impo!tant as a
(ood so.id 4siness mode.. I thin5 *e!e mana(in( to a+hieve an a*&. .ot in one (o he!e)
imp.ementin( a ve!" so.id 4siness mode. that sho.d 4e p!o&ita4.e &o! the vast amont o&
deve.ope!s and the p.anet) and at the same time (ivin( individa.s and hmans the a4i.it" to
!ea.." sta!t +o..a4o!atin( and !esea!+hin( *o!.d*ide. That !esea!+h a4i.it" to me is in+!edi4."
impo!tant. I +ant *ait nti. someone &!om some n5no*n p.a+e eithe! invents somethin( *e
didnt thin5 possi4.e) o! +!es a disease *e +o.dnt +!e) thats !ea.." (ood to 4e the thin(
that sa"s <!o7e+t Sa&e *as *o!th it. 6e thin5 that sho.d 4e soon. ?/0@/0B
SM: Id .i5e to ta.5 a .itt.e 4it a4ot the st!+t!e o& the o!(ani'ation. 8o a!e someone)
+.ea!.") *ho 4e.ieves in de+ent!a.i'ation a.. the *a". An"thin( that +an 4e de+ent!a.i'ed
sho.d 4e de+ent!a.i'ed and !i(ht no*) as I nde!stand it) MaidSa&e is so!t o& st!+t!ed as a
+ompan" *he!e the!es a non#p!o&it entit" that o*ns a4ot ha.& o& it) and then 30L is o*ned
4" the emp.o"ees) and then the othe! /0L Im not +.ea! on. ?/0@D0B
!: Thats p!ivate investo!s. 6e had to !aise a4ot ND mi..ion do..a!s to (et he!e. 6e did
that th!o(h &!iends and &ami." that *e sho*ed the sto!" to and *e to.d them the sto!" and it
*as Eite inte!estin( 4e+ase a*a" at the sta!t) I do a p!esentation) a *hite4oa!d that e;p.ains
*hat this is) it ta5es a4ot 2 ho!s 4t I do te.. a +op.e o& 7o5es) so its not too 4ad...
(.a(hte!) ...100L o& the peop.e *ho have seen that p!esentation and invested in s and
4e.ieved in s. ?/1@1KB
SM: 6o*J ?/1@/0B
!: Thats *h" *e +an !emem4e! the date //
nd
%e4!a!" /00A. <eop.e sta!ted 4e.ievin(
eno(h in this that the" (ave p mone" to a..o* s to do it. 6e do intend to (ive them
phenomena. !et!ns 4t the *a" that its st!+t!ed is &o! them to (et phenomena. !et!ns)
eve!"one invo.ved *ith the p!o7e+t) even +ompanies *eve not met "et) sho.d (et the same
phenomena. !et!n. Thats a p!ett" de+ent!a.i'ed *a" to .oo5 at thin(s. I thin5) pe!sona..") I
4e.ieve "o (et m+h mo!e st!en(th 4" (ivin() so the mo!e "o (ive a*a") the st!on(e! "o
4e+ome. Not 4ein( +omp.ete." mone" d!iven to the e;tent o& *antin( to !o4 peop.e o& thei!
*ea.th) 4t .oo5in( at p!ovidin( va.e &o! me) is a !ea.." essentia. *a" to *o!5. The mo!e
va.e "o +an p!ovide to the mo!e peop.e) the (!eate! the +o..e+tive *ea.th. To 4e+ome pa!t
o& a so+iet" that a!e as *ea.th" as ea+h othe! seems to me to 4e Eite sensi4.e 4e+ase i&
"o!e the &.o*e! in the &ie.d that (!o*s ta..e! than an" othe! one) "o.. 7st (et 4.o*n ove!
4" the *ind. 8o!e 4ette! to sha!e a 4it ot and .et a.. "o! &!iends (!o* *ith "o. 6hen
"o do that) "o maintain sta4.e !e.ationships. That) I thin5) is +!+ia. to peop.es o*n a4i.it"
to .ive in a happ" manne!. The!es no point in (oin( to 4ed !i+h and sad. 8o (o to 4ed ve!"
+om&o!ta4.e and *ith .ots o& &!iends. I dont thin5 a.. "o! &!iends sho.d (o to 4ed *ith "o
4t..."o 5no* (.a(hte!) thats *hat o! ot.oo5) m" ot.oo5 in .i&e is. In+entivi'e as man"
peop.e as possi4.e and (ive them as (!eat a !et!n as possi4.e. A.so) a &ee.in( o& in+.sion so
its not 7st pttin( mone" on a ho!se and (ettin( a (ood !et!n on that) this &ee.in( o&
in+.sion and sa"in( He!es "o! !et!n) its *hateve! m.tip.e times "o! investment 4t
potentia..") *eve saved .ives he!e. 6e ma" have +han(ed thin(s &o! the 4ette! &o! a (!eat
man" peop.e) so 4e happ" a4ot *hat "ove done. Its a.most .i5e (ivin( to +ha!it" 4t
(ettin( a !et!n &!om it. Thats !ea.." *hat *e!e st!ivin( &o! *ith MaidSa&e and it seems to
4e pa"in( o&& &o! s no*. ?/3@33B
SM: $o "o +onside! MaidSa&e so!t o& a $AO) a de+ent!a.i'ed atonomos o!(ani'ation) o!
is it (oin( to that di!e+tion in the &t!e= ?/3@23B
!: I thin5 the *a" I see MaidSa&e is) the!e.. 4e .ots o& MaidSa&es) *hi+h *ont have
an"thin( to do *ith s o! o! investo!s. The!e.. 4e .ots o& MaidSa&e t"pe +ompanies doin(
p!ett" m+h the same *o!5 that *e!e doin( and the".. 4ene&it as m+h as *e.. 4ene&it. I
see de+ent!a.i'ation that *a" i.e. one o& the thin(s *e!e .oo5in( to do is ta5e CO$A) &o!
instan+e) and *eve (ot a h(e po!t&o.io o& inte..e+ta. p!ope!t" !i(hts) and t!adema!5s) and
patents) and *hat not) and !ea.." p.a+e them *ith CO$A) so that *e +an sta!t sha!in( them
*ith the *ho.e +ommnit") so that *e a.. 4e+ome p!ote+ted. I thin5 -en(his Khan *as a4.e
to ta5e ove! most o& the *o!.d 4e+ase he !ea.." pe!saded peop.e that it *as a (!eat idea. He
+o.dnt have done it on his o*n. Bi( +han(in( events in the *o!.d !eEi!e as m+h
+oope!ation *ith as man" peop.e as possi4.e and this is !ea.." the *a" that *e!e .oo5in( to
(o. The Inte!net is a ND t!i..ion ma!5etp.a+e. The!es +e!tain." p.ent" o& !evene to ma5e as
man" peop.e +om&o!ta4.e as possi4.e) 4t mo!e impo!tant.") the!es !evene to ena4.e peop.e
to sta!t +ont!i4tin( to so+iet". That the!e is 5e". I& someone) &o! instan+e) *as to +!e a
+an+e! that "o *e!e eventa.." (oin( to (et) it *o.d 4e ve!" va.a4.e &o! s. The!es a .ot
o& *a"s o& .oo5in( at de+ent!a.i'ation o& de+ent!a.i'ed +ompanies and I thin5 "o +an have
+ompanies *hi+h a!e sma..) dont (!o* too .a!(e and !ep.i+ate those +ompanies. %o! a .ot o&
so&t*a!e deve.opin( and !esea!+h into medi+a. thin(s) it !eEi!es peop.e in the same o&&i+e
*ith *hite4oa!ds) de4atin( and a!(in() so I thin5 the!es a ha.&*a" hose &o! me that
eve!"4od" +ant 4e on S5"pe) t!"in( to ta.5 a4ot ve!" in depth thin(s. Lots o& sma..
+ompanies dist!i4ted a4ot is the ta!(et that *e!e aimin( &o!. ?/D@22B
SM: <aint a pi+t!e &o! me in) ma"4e) &ive "ea!s. Someones (oin( to .o( into a
de+ent!a.i'ed +ompte! o!) pe!haps) phone) o! ta4.et) o! somethin( .i5e that *ith 7st a +op.e
o& pass*o!ds. The".. 4e a4.e to +ommni+ate *ith thei! &!iends an"*he!e in the *o!.d)
the".. 4e a4.e to send and !e+eive Bit+oin pa"ments) the".. 4e a4.e to sto!e thei! data) a++ess
a.. thei! &i.es that the"ve eve! +!eated) do othe! t"pes o& so+ia. net*o!5in() en+!"pted emai.
pe!haps) messa(in(. Te.. me *hat thats (oin( to 4e .i5e) o! *hat e.se "o see peop.e 4ein(
a4.e to do. ?/A@/3B
!: I thin5 thats on." the sta!t. I thin5 that *i.. happen *ithin a "ea!. The +!!ent Inte!net
se!vi+es *i.. 4e !ep.a+ed 4" this and thats OK. Its not pa!ti+.a!." e;+itin(. It ma" 4e (!eat
that *eve a.. (ot this p!iva+") se+!it" and &!eedom 4t *hat MaidSa&e) o! <!o7e+t Sa&e
!ea.." a..o*s tho(h) is the ne;t ve!sion o& app.i+ations and +ommni+ations. The!e a!e
thin(s that *e havent even +onside!ed toda" .i5e a de+ent!a.i'ed) &ede!ated ne*s s"stem)
*hi+h *o.d 4e a .a!(e thin( &o! me. The ne*s is +o..e+ted 4" the peop.e) !an5ed 4" the
peop.e and then) dist!i4ted to eve!" pe!son on the p.anet th!o(h an avata!) in thei! o*n
.an(a(e. >ea..") I *o.d .ove to see the Is!ae.i and the <a.estinian (ettin( the e;a+t same
ne*s and then see i& the" hate ea+h othe! Eite as m+h. I dont thin5 the" *i... I thin5
hmans a!e p!ett" 4!ed to .oo5 a&te! othe! hmans and *eve made these nnat!a. 4o!de!s
and po.iti+a. di&&e!en+es 4et*een peop.e and p!opa(anda is sed to +ont!o. that. I thin5 *e
+an sta!t !emovin( some o& those 4a!!ie!s p!ett" Ei+5.". Anothe! thin( Im pa!ti+.a!."
motivated 4" is dist!i4ted atonomos inte..i(en+e) *he!e *e +an have ma+hines that +an
a+ta.." o*n themse.ves in Bit+oin &o! a sta!t) *hi+h is an inte!estin( aspe+t) 4t
+ommni+ate and +o..a4o!ate th!o(h this +"4e! 4!ain *hi+h is the MaidSa&e net*o!5. That
+o..a4o!ation *o.d p!ett" m+h 4e th!o(h maths and .o(i+) so these ma+hines *o.d 4e
+oded to t!"... &o! instan+e) i& "o had !o4ots) "o +o.d tea+h one %!en+h) then the" *o.d a..
5no* %!en+h in the *o!.d immediate.". O!) "o +an tea+h one ho* to do C<>) the" a.. 5no*
ho* to do C<>. That a4i.it" &o! a.. o& these AI t"pe ma+hines) o! CT s+anne!s to 4e a4.e to
sta!t p..in( to(ethe! some o& the inte..i(en+e that *e) as hmans) +o.dnt even ima(ine) .i5e
a CT s+annin( ma+hine that +o.d !ead 3 t!i..ion data points pe! se+ond) ta.5in( to a.. the
othe! CT s+annin( ma+hines *o!.d*ide) *ed 4e a4.e to identi&" p!o4.ems that *e +o.d
neve! ima(ine) no matte! ho* (ood a do+to! *e *e!e. $ist!i4ted atonomos inte..i(en+e is
anothe! thin( and thats *hat I thin5 MaidSa&e *i.. a..o*. Its not 7st a !ep.a+ement o& the
+!!ent) 4!o5en and dama(ed s"stems and ma5es them mo!e e&&i+ient) its the ne;t s*athe o&
thin(s in. These a!e on." some e;amp.es that I +an d!eam o& at the moment. 6hen "o
a+ta.." in+.de a.. o& so+iet" and sa" 6hat +an "o a.. d!eam o&= I thin5 *e!e (oin( to 4e
a4so.te." ama'ed. ?/I@DAB
SM: Thats 4eati&.... (La(hte!) ...and I .ove it 4t I ima(ine that the!e a!e peop.e ot the!e
that dont *ant in&o!mation to 4e de+ent!a.i'ed and dont *ant apps and te+hno.o(ies .i5e this
to 4e de+ent!a.i'ed. The" *ant the stats Eo and the" *ant +ent!a.i'ation so that the" +an
5eep an e"e on peop.e and the" +an have the +ont!o.) the" +an !emove the +ont!o. &!om the
individa. and have it in +ent!a.i'ed instittions) o! &o! themse.ves. Have "o (otten an" heat
&!om those 5inds o& peop.e= Have "o en+onte!ed an" isses o! psh4a+5 on+e peop.e
!ea.i'e *hat "o!e t!"in( to do= ?/K@33B
!: No) no heat so &a!. I thin5 thats to +ome. I *as thin5in( toda") Ive (ot this ta.5 at
2.1Dpm. I *as thin5in( ho* do "o sm a.. this p and *hat i& some4od" sa"s 6hats
MaidSa&e= 6hat a!e "o t!"in( to do= 6hats this <!o7e+t Sa&e= I !ea.." (ot it do*n to one
*o!d) and I thin5 its inevita4i.it". This is not somethin( thats (oin( to 4e stopped. This is
evo.tion o& man5indH this is o! 4!ains movin( to the ne;t .eve.. Its the same inevita4i.it"
as the +a!) o! the Inte!net) o! the te.ephone s"stems) o! peni+i..in. These thin(s) espe+ia.." the
Inte!net) a!e sta!tin( to ma5e in!oads into !ed+in( (!eed and +o!!ption and sta!tin( to ma5e
s a.. a .itt.e 4it mo!e ed+ated on an even 4asis) espe+ia.." *ith some o& the nive!sit"
p!o7e+ts) at the moment. This is inevita4.e. The!es no point in t!"in( to stop it. Its ve!"
m+h Kin( Cantes app!oa+h. 6eve (ot it) its open so!+e) its avai.a4.e to eve!"one)
the!es man" +opies o& the s"stem a4ot 4t it is inevita4.e. 8o +ant stop evo.tion and it
doesnt matte!... the!e *e!e Lddites "ea!s a(o *ho t!ied to stop the Indst!ia. >evo.tionH it
doesnt *o!5. <eop.e t!ied to stop t!ains) peop.e t!ied to stop te.ephonesH a.most eve!"thin(.
Bit+oin) &o! instan+e) is (oin( th!o(h that) at the moment. Its a (!eat thin( 4e+ase mass
+han(e to a so+iet" !eEi!es that the!es psh4a+5) and that psh4a+5 is p!o4a4." impo!tant to
ma5e s!e that *e!e doin( the +o!!e+t thin() and *e!e doin( it !e(a!d.ess. The mo!e peop.e
psh 4a+5) the mo!e se+!e *e.. ma5e the s"stem) and the mo!e e&&i+ient it *i.. 4e+ome. It
a+ta.." 4e+omes a se.&#de&eatin( thin( to psh a(ainst evo.tion. ?31@12B
SM: 6o*J I .ove it. $avid) *he!e +an peop.e (o on.ine to &ind ot mo!e a4ot MaidSa&e
and a4ot "o) and ho* to (et invo.ved *ith the +!o*d &ndin(= ?31@/3B
!: ***.MaidSa&e.net is the main *e4site &o! MaidSa&e and the +!o*d &ndin( is
***.Sa&e+oin.io. Sa&e+oin is the di(ita. +!!en+" thats nde!pinnin( the *ho.e 4siness
mode. &o! a.. o& the 4i.de!s and &a!me!s. ***.Sa&e+oin.io and ***.MaidSa&e.net. I have a
4.o( *he!e I +e!tain." ta.5 a4ot a .ot o& st!an(e thin(s ***.metaEestions.me mo!e ideas
the!e. ?31@D/B
SM: -!eat. $avid I!vine) than5 "o so m+h &o! ta.5in( *ith me toda". This has 4een !ea.."
+oo. and I +ant *ait to see *he!e this te+hno.o(" (oes and +he+5 in *ith "o a(ain) at some
point in the &t!e. Than5 "o so m+h. ?3/@02B
!: B!i..iant Stephanie. Than5 "o ve!" m+h. ?3/@0AB
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Stephanie Murphy interview with $atiana Moro%
SM: This is Stephanie &!om Lets Ta.5 Bit+oin. 6e!e he!e at Inside Bit+oins N8C and Ive
(ot Tatiana Mo!o' *ith me. Hi Tatiana. ?3/@33B
$M: Hi Stephanie. ?3/@33B
SM: Im !ea.." e;+ited to +hat *ith "o 4e+ase this is !i(ht 4e&o!e... *e!e !e+o!din( this
!i(ht 4e&o!e "o! 4i( +on+e!t toni(ht and "o!e annon+in( a spe+ia.) e;+itin(
annon+ement) !i(ht= ?3/@2AB
$M: 8es) *e!e annon+in( the advent o& Tatiana+oin this evenin() so its (oin( to 4e !ea.."
e;+itin(. Im doin( it *ith Maste!+oin and *e!e (oin( to do it at the Ne* 8o!5 Cit" Bit+oin
Cente!) *e!e havin( a $O and a.. so!ts o& &n st&&) so it sho.d 4e &n. ?3/@DMB
SM: Coo.. 6hat is Tatiana+oin= Is this .i5e the 4e(innin( o& +!"pto eEities= $oes it have
to do *ith the &a+t that "o!e a msi+ian= A!e the" 4"in( eEit" in "o! son(s= ?33@0IB
$M: Its so!t o& .i5e a +!o*d sa.e o& m" &t!e *o!5 and the +ontent that I +!eate. Its sti..
de&inite." 4ein( deve.oped so thin(s a!e 5ind o& +han(in( as *e (o a.on( 4t the *a" that
*e!e .oo5in( at it !i(ht no*) is that peop.e *o.d se it .i5e an Indi(o(o +ampai(n 4t
instead o& 7st (ettin( p!i'es) the" *o.d a.so (et to5ens *hi+h the" +o.d .ate! !edeem *ith
Tatiana st&& and then those to5ens *o.d) .ate! on) 4e inte!+han(ea4.e *ith othe! A!tist+oins)
and othe! +oins +!eated on the Maste!+oin p!oto+o.. 6e hope that the va.e o& it *i.. (o p as
the" 4e+ome mo!e pop.a! and this *a") its a (!eat *a" in m" opinion) to (et the &ans
invo.ved so the" +an have a .on(e! te!m e;pe!ien+e *ith "o and a.so (et somethin( 4a+5 &o!
4e.ievin( in me ea!.". Id .i5e to see it e;tend to a .ot o& di&&e!ent a!tists. Im (oin( to 4e the
(inea pi(. ?33@DMB
SM: Thats !ea.." +oo.. It sonds .i5e "o!e one o& the &i!st peop.e to do this. ?32@01B
$M: I am. ?32@03B
SM: $o "o have othe! p.ans to... a!e "o (oin( to se.. +on+e!t ti+5ets *ith it) o! a!e "o
(oin( to se the 4.o+5+hain &o! othe! p!poses !e.ated to "o! *o!5= ?32@11B
$M: I .ite!a.." 7st sta!ted *o!5in( on this t*o *ee5s a(o) so the possi4i.ities) in m"
opinion) a!e end.ess. The *a" that I *o.d .i5e to !ea.." 4e a4.e to he.p is 4" se!vin( as that
e;amp.e) then ma"4e ma5in( a mode. &o!) espe+ia.." msi+ians) to (et &nded. Somethin(
that I &ond in Ne* 8o!5 (I sed to *o!5 at a .ot o& di&&e!ent !e+o!din( stdios) and the *o!st
peop.e a!e in the stdio and a.. these (!eat a!tists) the" dont even have the mone" to (et in
the!e and i& the"ve (ot a &e* peop.e that a!e !ea.." *i..in( to *o!5 *ith them) I thin5 that
this is mo!e o& a .on( te!m investment in the a!tist. I *ant to see that and he.p !evo.tioni'e
the msi+ indst!". ?32@2AB
SM: $o "o see) in .i5e &ive "ea!s) eve!" a!tist havin( thei! o*n +oin= ?32@D1B
$M: %ive "ea!s is p!ett" soon 4t I thin5 that "eah) I *o.d .i5e to see di&&e!ent thin(s
&nded this *a" and not 7st a!tists) in te!ms o& msi+ians) 4t *hat a4ot &i.ms) *hat a4ot
video ideas) a.. so!ts o& +!eative endeavo!s. Im s!e that Maste!+oin p!o4a4." is thin5in(
some mo!e p!a+ti+a. +ompanies 4t &o! me) I see the possi4i.ities in te!ms o& the +!eative side.
?3D@10B
SM: 6h" did "o +hoose to (o th!o(h Maste!+oin= The!e a!e some othe! p!oto+o.s
avai.a4.e .i5e Conte!pa!t" and BitSha!es. 6h" did "o (o *ith Maste!+oin= ?3D@/0B
$M: I have a .ot o& (ood adviso!s and *e 5ind o& .oo5ed ove! a.. the di&&e!ent thin(s that
eve!"4od" *as o&&e!in( and *hat I !ea.." .i5e a4ot Maste!+oin is that the" have a team the!e
that I +an a+ta.." +a.. p and 4on+e ideas o&& o&. The" seem !ea.." enthsiasti+ a4ot it.
%o! me) that pe!son to pe!son e;pe!ien+e is !ea.." impo!tant *hi+h "o dont ne+essa!i." (et
*ith othe! +ompanies. Thats *h" I +hose Maste!+oin. ?3D@2/B
SM: 6hat *o.d some4od" have to do to (et some o& "o! to5ens= 6o.d the" have to
do*n.oad the Maste!+oin so&t*a!e= 6hat do the" have to... ho* eas" is it) 4asi+a.."=
?3D@D2B
$M: I thin5 its p!ett" eas". I thin5 that 4asi+a..") "o *o.d 7st 4e (oin( th!o(h...
Maste!+oin has thei! o*n *a..et) !i(ht= 6e!e not even issin( the +oins nti. a&te! *e do the
+!o*d &ndin( thin(. 6hat I *ant to do is ma5e it as eas" as possi4.e. ?3A@0DB
SM: A+ta..") I dont even 5no*. Ho* do "o moneti'e "o! *o!5= $o "o se.. +on+e!t
ti+5ets= $o "o se.. a.4ms o! son(s= Ho* does that *o!5= ?3A@13B
$M: I neve! *ant to +t ot the ave!a(e) !e(.a!) o.d &an) !i(ht= This is a.most .i5e a spe!#
&an thin(. The" *o.d (et e;+.sivit"H spe+ia. videos that I dont ne+essa!i." !e.ease to the
p4.i+) ma"4e a .itt.e 4it ea!."H the" *o.d (et dis+onts on a.4msH the" *o.d (et to
pa!ti+ipate in di&&e!ent +ontests) *he!e *e sa" OK) *e.. do this ve!sion 4ette! o! this
ve!sion 4ette!) *hats (oin( to ma5e it onto the a.4m) *hi+h a.4m +ove! do "o .i5e 4ette!.
I mean) I thin5 "o +an 7st 4e +!eative *ith it and I havent ot.ined a.. o& that st&& "et 4t
thats 5ind o& *hat Im (oin( to &o+s on ne;t *ee5. This *ee5) Im 5ind o& 7st (ettin(
peop.e e;+ited and (ettin( thei! &eed4a+5 a4ot *hat the" *o.d *ant &!om that e;pe!ien+e)
as *e... ?3A@2IB
SM: Those a!e thin(s that "o 7st .isted that "o dont do +!!ent." 4t "o *o.d .i5e to do
and that it *o.d 4e possi4.e to do *ith Tatiana+oin. ?3A@DDB
$M: I thin5 that this p!ovides me *ith a .ot mo!e st!+t!e in te!ms o& ma5in( s!e that I end
p doin( thin(s .i5e that. It (ives me thin(s to p.an and *a"s to inte!a+t *ith peop.e and) I
dont 5no*) 5ind o& ho.ds me to a +e!tain inte!a+tion .eve. 4e+ase "o +an (et on the !oad
and then) ne;t thin( "o 5no*) "o havent *!itten a 4.o( in) I dont 5no*) t*o "ea!s.
(La(hte!) 6e.. ma"4e not that .on( 4t "o 5no* *hat Im sa"in(. I thin5 that havin( that
5ind o& set date) its .i5e a !e.ationship) "o *ant to +.tivate that) so this *i.. 5ind o&
&a+i.itate that I (ess) a .itt.e 4it mo!e than 7st Tne into m" sho* *heneve! its on) and
thats a... ?3M@/IB
SM: Coo.. 6he!e +an peop.e (o on.ine to &ind ot mo!e a4ot the +oin and a4ot "o!
msi+= ?3M@33B
$M: The" +an (o to ***.tatianamo!o'.+om o! ***.tatiana+oin.+om and the!es
in&o!mation on 4oth o& those. Im on T*itte! *ith PEeentatiana and 8oT4e %o!eve! Mo!e
Tatiana. Im pttin( ot a 4n+h o& videos on the!e too. ?3M@22B
SM: Than5 "o so m+h &o! +hattin( *ith me and (ood .+5 *ith "o! +on+e!t toni(ht. I..
4e the!e) see "o .ate!. ?3M@2KB
$M: A*esome) see "o .ate! on. ?3M@D0B
Tatiana sin(in( 9Gse Bit+oin *heneve! "o pa".... se Bit+oin *heneve! "o pa".... se
Bit+oin *heneve! "o pa".:
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
A"E#$:
K!"ptoKit is the *o!.ds &i!st Ch!ome 4!o*se! Bit+oin *a..et. Its the easiest) &astest Bit+oin
*a..et pa"ment s"stem *ith a simp.e one +.i+5 insta..) it ta5es 7st se+onds to (et "o! *a..et
set p and 4e+ase K!"ptoKit &inds the add!ess and pa"ment &o! "o) the!es no mo!e &ssin(
a!ond o! ta4 s*it+hin(. K!"ptoKit is mo!e than 7st a *a..et. It +omes *ith a p!e.oaded
<-< en+!"pted so+ia. net*o!5) ne*s&eeds &!om >eddit and -oo(.e) and p to date +ha!ts
&!om e;+han(es. %ina..") K!"ptoKit di!e+to!" a..o*s "o to ma5e t*o +.i+5 pa"ments *ith
an" o& the Bit<a" me!+hants. On+e "o insta.. K!"ptoKit "o *ont need an"thin( e.se. %o!
mo!e in&o!mation) o! to do*n.oad K!"ptoKit) visit ***.K!"ptoKit.+om. ?3I@22B
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
A"E#$:
Lets Ta.5 Bit+oin is hea!d ea+h *ee5 4" thosands o& peop.e *ho a!e pa!ti+ipatin( in the
ne* di(ita. e+onom". O! .istene! 4ase o& Bit+oin o*ne!s) mine!s) investo!s) te+hno.o(ists
and me!+hants is (!o*in( &ast. 6e o&&e! a .imited nm4e! o& sho!t adve!tisin( s.ots in ea+h
sho* to 5eep o! .istene!s en(a(ed and to p!ovide ma;imm impa+t &o! o! sponso!s. I&
"od .i5e to ta.5 to s a4ot Lets Ta.5 Bit+oin) send s an emai. at
sponso!sP.etsta.54it+oin.+om. ?3K@13B
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Stephanie Murphy interview with $race Mayer
SM: This is Stephanie &o! Lets Ta.5 Bit+oin. Im he!e ta.5in( *ith T!a+e Ma"e!. Hi T!a+e.
?3K@/DB
$M: He". ?3K@/AB
SM: 6e.+ome to Lets Ta.5 Bit+oin. ?3K@/IB
$M: -.ad to 4e he!e. ?3K@/KB
SM: 8o a!e p!ett" &amos in the *o!.d o& peop.e *ho *ant thei! p!iva+". ?3K@33B
$M: 6e .an+hed ***.ho*tovanish.+om 4a+5 in ea!."... *e..) a4ot mid /00I and its ho*
peop.e ta5e +ont!o. o& thei! p!iva+" 4e+ase the!e a!e so man" th!eats) .i5e identit" the&t et+.
that +an 7st !ea.." *!ea5 havo+ on peop.e and +ost a .ot o& mone". The!e a!e a .ot o& sma..)
simp.e thin(s "o +an do to he.p p!ote+t "o! p!iva+" and i& "o!e 7st +ons+ios o& "o!
p!iva+" h"(iene I mean) *e ta5e a sho*e! eve!" da". 6h" dont *e 4e +o(nisant o& the
data and in&o!mation that *e!e .eavin( a!ond in the *o!.d= ?20@0DB
SM: Its espe+ia.." !e.evant no* *ith) not 7st the NSA and (ove!nment sp"in( and a.. 5inds
o& (ove!nments *antin( to 5no* *hat "o!e doin( so the" +an ta; "o and !e(.ate "o) 4t
a.so +ompanies sin( "o! in&o!mation to ma!5et st&& to "o. ?20@/0B
$M: Oh "eah... and not 7st ma!5et st&& 4t -oo(.e) &o! e;amp.e) (ot a patent on p!i+e
dis+!imination so the".. se "o! *e4 4!o*sin( histo!" and so *i.. Ama'on) and &!om that
the".. a+ta.." se!ve "o a di&&e!ent p!i+e. ?20@3/B
SM: 6o*J ?20@32B
$M: 8eah) so the" +an +ha!(e "o mo!e o! +ha!(e "o .ess 4e+ase the" have a .itt.e 4it
mo!e 5no*.ed(e a4ot "o. The" 5no* *hat "o! e.asti+it" o& demand is (oin( to 4e o! +an)
at .east) !easona4." app!o;imate it. <!ett" soon +!edit +a!ds mi(ht 4e inte(!ated *ith "o!
hea.th ins!an+e) &o! e;amp.e) o! the".. .oo5 at "o! 4"in( patte!ns the!e) +ha!(e "o mo!e
hea.th ins!an+e 4e+ase "o 4o(ht $ominoes <i''a (I thin5 that *as the ad). ?20@D2B
SM: I hea! "o! +!edit s+o!e +an a&&e+t the ins!an+e !ates that "o pa" &o! a.. 5inds o& st&&
in+.din( hea.th ins!an+e. ?21@00B
$M: It *o.dnt s!p!ise me. I mean) i& I *e!e an ins!an+e +ompan") Id p!o4a4." se
+!edit s+o!es 4e+ase the!e *as a+ta.." a std" done) .i5e "o! hea.th and "o! *ea.th a!e
the most hi(h." +o!!e.ated and so) even mo!e than ed+ationa. .eve. o! 'ip +ode et+. The!e is
a .ot to *hethe! "o +an !esponsi4." mana(e "o! +!edit and *hethe! "o +an !esponsi4."
mana(e "o! hea.th. ?21@/3B
SM: 6o*J ?21@/2B
$M: %o! ins!an+e +ompanies) I de&inite." see *h" the"d *ant a++ess to that data
in&o!mation 4t I dont ne+essa!i." *ant to (ive it to them) !i(ht= ?21@3/B
SM: 8eah. ?21@33B
$M: O! at .east not (ive it to them *ithot (ettin( a .o*e! p!emim) *hi+h the" mi(ht not
*ant to (ive me. ?21@3IB
SM: The" *ant to (ive "o a hi(he! one 4e+ase "ove paid hi(he! &o! st&& 4e&o!e.
?21@2/B
$M: I& I pa" a hi(he! p!emim) the" have mo!e 5no*.ed(e that de+!eases the !is5) then the"
+an ma5e mo!e p!o&it. <eop.e need to nde!stand that thei! data) thei! in&o!mation) a.. this
st&&) its va.a4.e. In&o!mation +an 4e (.eaned &!om it &o! p!i+in( si(na.s and +o!po!ations
*ho a!e (oin( to ta5e advanta(e o& it to ma5e thei! sha!eho.de!s the most amont o& mone"
as the" +an) i& the" +an. ?2/@0MB
SM: 8o! 4a+5(!ond is as an atto!ne") !i(ht= ?2/@0KB
$M: 8eah) a++ontin() .a* de(!ee. I dont p!a+ti+e as an atto!ne". ?2/@13B
SM: Te.. me ho* "o &i!st (ot inte!ested in Bit+oin and *hat e;+ited "o a4ot Bit+oin.
?2/@1KB
$M: I +ame a+!oss Bit+oin on the Inte!net *a" 4a+5 in the ea!." da"s) 5ind o& .i5e >o(e!
Qe!. ?2/@/2B
SM: 6hats the ea!." da"s= Li5e /010) /011= ?2/@/AB
$M: Ma"4e even 4e&o!e then 4e+ase *e *!ote an a!ti+.e on Ho* to Qanish. A+ta..") a
8oT4e video &o! Ho* to Qanish a4ot Bit+oin *hi+h p4.ished) I thin5) Oana!" o& /011.
6e.. 4e&o!e that. I *as 7st &as+inated *ith it 4e+ase its psedoanon"mos. I mean "o
+o.d !ea.i'e &!om its a!+hite+t!e *ith the 4.o+5+hain # Ive neve! +onside!ed it anon"mos)
o! somethin( that "od ne+essa!i." *ant to do i..i+it thin(s *ith 4e+ase its !e.ative." eas"
to) at .east) t!a+e t!ansa+tions. In te!ms o& not havin( to (ive a me!+hant a.. "o! in&o!mation
*hen "o!e +he+5in( ot et+. Im .i5e Oh) thats !ea.." +oo.. <.s) its eEit" 4ased and
the!es no +onte!pa!t" !is5) so I *!ote a 4oo5 in /00I) +a..ed the -!eat C!edit Cont!a+tion
and I see Bit+oin is a potentia. so.tion to that. Bit+oin 5ind o& ti+5.ed the ea!s in a .ot o&
*a"s. ?23@/2B
SM: 8eah. Im +!ios *hat the !ea+tion *as amon( the !eade!s o& "o! site *hen "o
sta!ted to (et inte!ested in Bit+oin and sta!ted *!itin( a4ot it) and so &o!th. I 5no* "o have
a 4e(inne!s Bit+oin 4oo5 that "o (ive a*a" on "o! *e4site 4t I +an ima(ine t*o +amps.
One *hos !ea.." inte!ested in it) pe!haps "on(e! peop.e and anothe! *ho sa"s Ah) this is a
<on'i s+heme. 6hat *as it &!om "o! !eade!s= ?23@2AB
$M: A .ot o& them 7st didnt nde!stand it) *hi+h I dont 4.ame them. Thats *h" I did
*!ite the ***.%!eeBit+oin-ide.+om to he.p peop.e (et into Bit+oin) 5ind o& e;pe!iment
*ith the te+hno.o(". A.so *ith m" othe! site) ***.>nto-o.d.+om *he!e I p4.ished the
-!eat C!edit Cont!a+tion) I ta.5ed *ith a .ot o& the (o.d 4(s and eve!"4od" in that ni+he.
Some o& them nde!stood it) some o& them didnt. Some o& them) I had to *a.5 them th!o(h
sendin( thei! &i!st t!ansa+tion) .i5e Oe&& Be!*i+5 &o! e;amp.e. I sent him his &i!st Bit+oin
t!ansa+tion) *a.5ed him th!o(h eve!"thin(. Tom 6oods) Le* >o+5*e..) Anti#6a!.+om) 7st
a .ot o& these sites. I eventa.." 7st (ot so &ed p *ith some o& the ne(ative !esistan+e that I
*!ote an a!ti+.e on Ho* to Qanish) *h" Li4e!t" p!oponents... *h" Bit+oins a .itms test &o!
*hethe! "o!e a Li4e!t" p!oponent o! not. In that a!ti+.e) I made the a!(ment that *hen
"o!e pa"in( *ith a +!edit +a!d) o! (ivin( a donation *ith a +!edit +a!d) a.. that in&o!mation
is) 4" de &a+to +o..e+ted) and a!+hived) data4ased) sto!ed) sea!+ha4.e. I& "o!e a p!o4.em at
the TSA and "o *ant to &i(!e ot *ho to ha!ass) "o +o.d 7st Ee!" the data4ase) &i(!e
ot eve!"4od" *hos made a donation at Anti#6a!.+om and a donation to Le*>o+5*e...+om)
and i& the donations have 4een ove! ND0) the"!e atomati+a.." s+!eened &o! se+onda!"
inspe+tion *ith TSA. 8o +o.d *!ite a Ee!" .i5e that. 6hethe! Le* >o+5*e.. and Anti#
6a! intend &o! the in&o!mation to 4e sed that *a") it is a4.e to 4e sed that *a") so the"!e
eithe! intentiona.." o! nintentiona.." *hats +a..ed a hone" pot &o! the inte..i(en+e
esta4.ishment) so the" sho.d a++ept Bit+oin donations 4e+ase "o! identit" is not
ne+essa!i." tied di!e+t." *ith the t!ansa+tion) .i5e *ith a +!edit +a!d. It d!asti+a.." in+!eases
the +ost on 4ein( a4.e to .in5 the t*o. The" +ant 7st !n a Ee!" .i5e that. I *as .i5e Ah)
thats 5ind o& +oo.. ItRs &o! some ?inadi4.e a.to=B 4"e! and ve!" he.p&.) so *e sho.d 4e
em4!a+in( this 4e+ase it ma5es it mo!e di&&i+.t to +o..ate and (et a.. this va!ios data and
in&o!mation. ?2A@1AB
SM: >i(ht. Thats 5ind o& a histo!" I (ess o& *he!e "ove (one *ith Bit+oin and ho* "o
(ot inte!ested in it 4t *he!e a!e "o at !i(ht no*= I thin5 "o said "o!e e;+ited a4ot
m.ti#si(nat!e t!ansa+tions) !i(ht= ?2A@30B
$M: 8es. 6ith A!mo!") I he.ped &nd Bit<a") A!mo!" and K!a5en. Those a!e the th!ee that
Im he.pin( in+4ate and *o!5in( *ith and &ndin(. 6ith A!mo!") *e!e 4i.din( ot the
a+ta. &ondation *he!e "o +an se+!e "o! p!ivate 5e"s. This is one o& the 4i( dea.s o&
Bit+oin is "o +an .ite!a.." ho.d the p!ivate 5e"s o& *ea.th) o& p!ope!t") "o!se.&. The!es no
imminent domain "o ho.d dominion o! +ont!o. and thats a ve!" .i4e!ta!ian thin()
!e(a!d.ess o& *hethe! its psedoanon"mit") o! t!a+5a4.e) o! *hateve!. 8o ho.din( the
p!ivate 5e" is instead o& a 4an5) o! the %ed ho.din( the p!ivate 5e"s) o! the .o+a. (ove!nment
ho.din( the p!ivate 5e"s) in the +ase o& +a!) !ea. estate) et+. 6ith this ne* m.ti#si(
imp.ementation *ith A!mo!") *e +an ho.d the p!ivate 5e"s in +o.d sto!a(e) *hi+h I .i5e to sa"
he.ps s !ea.." p!ote+t o!se.ves &!om the CIA) o! NSA) et+. It ma5es it ve!" se+!e to ho.d
"o! 4it+oins and *ith m.ti#si() it means that "o have to +omp!omise m.tip.e +ompte!s
too) o! m.tip.e seeds. ?2M@3AB
SM: 6hat is m.ti#si( &o! some4od" *ho doesnt 5no* *hat it is= ?2M@20B
$M: 8ove (ot "o! p4.i+ 5e") *hi+h is "o! Bit+oin add!ess and then "o have "o!
p!ivate 5e" and that *o.d 4e one o& one. 6ith m.ti#si() in the Bit+oin p!oto+o.) "o +an
a+ta.." have it !eEi!e sa" t*o o& th!ee) o! &ive o& seven) o! &i&teen o& t*ent") and so then...
?2I@0/B
SM: Some t!adin( 4e.. (oin( o&& in the 4a+5(!ond... (.a(hte!). ?2I@02B
$M: 8eah) Satoshi SEa!e at Inside Bit+oins... (.a(hte!). I& "o need) sa" th!ee o& &ive)
then "o have to di(ita.." si(n *ith th!ee si(nat!es ot o& &ive in o!de! to move the 4it+oins)
instead o& 7st one si(nat!e. 8o +o.d have that then on &ive di&&e!ent +ompte!s) o!
ho*eve! "o! o*n pe!sona. sitation is set p to do. ?2I@/2B
SM: >i(ht) 4e+ase an individa. +o.d potentia.." 4e +oe!+ed into (ivin( p thei! p!ivate
5e"s) o! *hateve!) even i& "o!e the on." one *ho ho.ds "o! p!ivate 5e"s. I& "o!e in a
sitation o& +oe!+ion) pe!haps and) in o!de! to move an" o& "o! 4it+oins ot o& "o! +o.d
sto!a(e .i&e savin(s) "o need th!ee o& &ive peop.e to si(n o&& on it and those th!ee o& &ive
peop.e dont even ne+essa!i." 5no* *ho ea+h othe! a!e) then its p!ett" ha!d to +oe!+e
someone into (ivin( p thei! 4it+oins that *a". ?2I@2KB
$M: 8o +an de&inite." 4i.d st&& .i5e that. One o& the !easons I *anted to (et A!mo!"
&nded and 4i.t and eve!"thin( .i5e this is 4e+ase &!om a++ontin( *e have a +on+ept
+a..ed se(!e(ation o& dties and in o!de! &o! 6a.. St!eet to +ome in and 4!in( in sa") ND00
mi..ion) the" have to &ee. +om&o!ta4.e that its 4ein( p!ope!." se+!ed its the e.ephant in the
!oom. In o!de! to do that) *ith a +ent!a.i'ed entit") "o have to p!esme that "o! emp.o"ee
is ma.i+ios. The" mi(ht 4e a (ood pe!son) 4t "o have to p!esme the"!e ma.i+ios. In
&a+t) "o sho.d p!o4a4." p!esme that the"!e a.. ma.i+ios. 8o need to de+ent!a.i'eH "o
need to dist!i4te the t!st amon( eno(h peop.e *he!e the"!e not .i5e." to +o..de to(ethe!)
even i& +oe!+ed. In m" +ase) I dont sa" *hethe! I have an" 4it+oins 4t even i& I did) I *o.d
se+!e them in a *a" *he!e even i& m" nie+e *e!e a4d+ted and m" nephe* *e!e a4d+ted)
ma"4e *e need them at the va.t in o!de! to (et a++ess to the va.t in o!de! to (et to the
p!ivate 5e"s that +o.d a+ta.." move the 4it+oins. That +o.d 4e deep) deep) deep +o.d
sto!a(e o& 4it+oins) and then "o mi(ht have +o.d sto!a(e o& 4it+oins) so ma"4e I +an (et
a++ess to ND0)000 *o!th o& 4it+oins) o! somethin() p!ett" easi.") 4t "o!e havin( to t!ade o&&
se+!it" and +onvenien+e 4t i& "o!e 4i.din( &o! instittions o! o!(ani'ations) "o have to
p!ett" m+h p!esme that eve!"4od"s (oin( to 4e ma.i+ios) so "o need to 4i.d the s"stem
so that the"!e not (oin( to 4e .i5e." to +o..de. ?D0@/3B
SM: >i(ht) so is this doa4.e no*= Is it !ead" &o! p!ime time= ?D0@/MB
$M: 6e.. *e have a *o!5in( demo imp.ementation o& Bit+oin A!mo!" *ith m.ti#si( +o.d
sto!a(e a.!ead". I mean) thats *hat *e!e demoin( toda". ?D0@3AB
SM: At the Inside Bit+oins= ?D0@3IB
$M: He!e at Inside Bit+oins) Ap!i. /012. ?D0@2/B
SM: Can someone do*n.oad that and p.a" a!ond *ith it= ?D0@22B
$M: 8eah) "o +an do*n.oad it) p.a" a!ond *ith it. Its sti.. a .itt.e !o(h !ond the ed(es
so its (oin( to need to (et po.ished o&& 4t "eah) it.. p!o4a4." 4e !ead" &o! p!ime time in the
ne;t &e* *ee5s) o! a month o! so. That means 6a.. St!eet +an +ome in *ith .i5e 4i( amonts
o& mone" and &ee. +om&o!ta4.e *ith it... o! an ins!an+e +ompan") o! a 4an5. ?D1@03B
SM: Ho* does that *o!5 on the 4.o+5+hain= 6o.d "o 4e a4.e to see that m.tip.e pa!ties
si(ned o&& on a +e!tain t!ansa+tion= ?D1@0KB
$M: 8eah. ?D1@10B
SM: 6o.d *e 4e a4.e to t!a+5 i& a .a!(e &inan+ia. instittion en(a(ed in a m.ti#si(nat!e
t!ansa+tion and sa" Oh) this mst mean that t*e.ve o& the thi!teen e;e+tives app!oved this
and said that it *as OK= ?D1@/2B
$M: 8o!e p!o4a4." not ne+essa!i." (oin( to see it to that (!an.a!it" n.ess "o 5no*
*hat e;a+t." is (oin( on 4ehind the s+ene 4t "o... 7st a (ene!a. ove!vie*) the!e is (oin( to
4e a di&&e!en+e .i5e on the add!ess. Gsa..") add!esses sta!t *ith a one and the m.ti#
si(nat!e add!esses the" a.. sta!t *ith a th!ee. Thats a (ood *a" that "o +an see *hethe!
mo!e m.ti#si( add!esses a!e 4ein( sed. ?D1@2IB
SM: Mmmm. ?D1@2IB
$M: The!e a!e mo!e +!eative *a"s that *e +an dist!i4te 5e"s a.so *he!e the!e mi(ht 4e
some o4&s+ation a4ot ho* man" peop.e a!e si(nin() *hos si(nin() et+ 4e+ase *e *ant to
have (ood ope!ationa. se+!it" and pa!t o& that is not .ea5in( in&o!mation. ?D/@03B
SM: >i(ht. On the othe! hand tho(h) its a.so an oppo!tnit" &o! t!anspa!en+") &o! instan+e)
&o! +ompanies *ho *ant peop.e to 4e a4.e to see that +e!tain t!ansa+tions a!e 4ein( app!oved
4" the app!op!iate pa!ties) !i(ht= ?D/@1DB
$M: 8eah) .i5e sa" "o *anted to 5no* that "o! &ood *as +omin( &!om *ho.e&oods) "o
*anted to 5no* that the spp." +hain *e!e a.. o!(ani+ and that the" *e!e not sendin( an"
mone" to 4" d!ones) &o! e;amp.e) to 4om4 inno+ent +ivi.ians. 8o +o.d en&o!+e that a..
th!o(h the 4.o+5+hain in a ve!" t!anspa!ent manne!. This open so!+e (ene!a. .ed(e!
de&inite." has an a4i.it" to 4!in( mo!e ,snshineH its the 4est disin&e+tant in a .ot o& *a"s.
8o +an en&o!+e a .ot o& that t!anspa!en+" a.so in the 4.o+5+hain and it *i.. 4e inte!estin( to
see *hat +onsme!s and individa.s demand &!om thei! se!vi+e p!ovide!s. ?D/@DAB
SM: 6hat a4ot sma!t +ont!a+ts and sma!t p!ope!t"= A!e "o into those at a..= ?D3@01B
$M: Ive 4een &o..o*in( it *ith inte!est) .i5e the Ethe!em <!o7e+t pa!ti+.a!." 4t) I mean) I
thin5 *e *i.. 4e a4.e to do si(ni&i+ant st&& *ith Bit+oin itse.& 4t I thin5 a .ot o& the
innovation thats (oin( to happen a!ond the ed(es) the innovation *ithot pe!mission that
And!eas ta.5s a4ot) its (oin( to p!o4a4." 4e pshed ot o& Bit+oin and happen in a.. +oins
and then) *hen it +an 4e) 4e &o.ded o! !o..ed 4a+5 into Bit+oin. I thin5 *e!e (oin( to see a
.ot o& oppo!tnit" otside o& Bit+oin) in the a.t+oins and the othe! +!"pto+!!en+" /.0 st&& &o!
deve.opment and innovation in this a!ea. ?D3@22B
SM: $o "o have an" pa!ti+.a! a.t+oins) o! /.0 p!oto+o.s that "o!e &o..o*in( *ith the
most inte!est) o! an"thin( .i5e that= ?D3@D/B
$M: 6e..) Ethe!em is the one thats (ot most o& m" inte!est 4t its sti.. ve!" m+h ea!."
sta(e. C!!en+" is 7st the &i!st app.i+ation o& Bit+oin and "o !ea.." have to 4e in this *ith a
.on( te!m (ame p.an and so) "o .oo5 at m" investments the!es A!mo!") *hi+h is the
se+!it"... "ove (ot to 4e a4.e to se+!e "o! 4it+oins) the!es Bit<a") *hi+h is a me!+hant
p!o+essin( that +!!en+" se) the!es K!a5en) *hi+h is the e;+han(e and then) *e (ot
Name+oins on K!a5en and Lite+oins and... I .ove this Name+oin +on+ept o& de+ent!a.i'in(
$NS and sin( it &o! athenti+ation and thin(s .i5e that. 6e have so man" di&&e!ent... *e
have to 4!in( t!st 4a+5 to the Inte!net) espe+ia.." in this post#Sno*den e!a) *he!e t!st has
4een p!ett" m+h +omp.ete." evis+e!ated &!om the Inte!net. 6e!e (oin( to have to
!e+onstitte the Inte!netH thin(s .i5e MaidSa&e) Bit+oin a!e (oin( to p.a" +ent!a. !o.es as
additiona. p!oto+o. .a"e!s in doin( this. At .east) I thin5 so. Sma!t +ont!a+ts a!e (oin( to
de&inite." +ome in to p.a" in a.. o& this 4t 4a4" steps) "o 5no*) *e have to ta5e a .on( te!m
vie*) I thin5. This isnt 7st (oin( to happen in the ne;t t*o "ea!s. This is (oin( to 4e .i5e a
t*ent") thi!t" "ea! p!o+ess t!ansitionin( into the in&o!mation a(e and its (oin( to... I thin5 *e
nde! app!e+iate 7st ho* m+h hman +apita. and ta.ent and ho* +omp.e; and te+hni+a. this
*o!5 is. <eop.e have to 4e motivated to do that *o!5 and *hat motivates them= Ho* do "o
motivate them and ho* do "o (et the *o!5 done) et+= The mo!e +omp.e; and te+hni+a. the
*o!5 is to do) the ha!de! it is to motivate someone 7st 4" *!itin( them a +he+5. Thats
*he!e I thin5 that this... .timate.") *hat *eve done *ith Bit+oin is *eve +han(ed the
e+onomi+s o& vio.en+e and the Inte!net) and even no* *ith Bit+oin) &!eedom is mo!e
p!o&ita4.e than its eve! 4een and its on." (oin( to (et mo!e and mo!e p!o&ita4.e. Thats
*hat) I thin5) is !ea.." e;+itin( is that *eve .ite!a.." +han(ed the te+toni+ p.ates o& the
e+onomi+ +a.+.ation o& the e+onomi+s) and thats (oin( to .ead to a *ho.e ne* *o!.d 4ein(
4i.t) in m" opinion. ?DA@13B
SM: That *as (!eat and its a (!eat note to end on 4t I 7st have one .ast Eestion *hi+h is)
a!e "o +on+e!ned a4ot peop.e data#minin( the 4.o+5+hain) o! an" o& the potentia.
t!a+ea4i.it" isses *ith Bit+oin and ho* do "o !e+ommend peop.e (et sta!ted e;p.o!in(
ta5in( (!eate! &inan+ia. p!iva+" meas!es *ith thei! 4it+oins= ?DA@3DB
$M: Thats *he!e I thin5 a .ot o& the a.t+oins *i.. +ome into p.a". The!e mi(ht 4e on !amps
o! o&& !amps) as And!eas has ta.5ed a4ot. The 4.o+5+hain is de&inite." (oin( to (et data#
mined. <e!sona..") I havent !ea.."... I dont !ea.." do a .ot o& t!ansa+tions) i& I do an"
t!ansa+tions at a... %!om a +!imina. de&en+e pe!spe+tive) I +ant +on&i!m o! den" *hethe! Ive
done an" t!ansa+tions. 8o need to p!ove it. I thin5 peop.e need to... thin(s .i5e CoinOoin
and CoinS*ap) *hi+h int!od+ed in+!eased p.asi4.e denia4i.it") $a!5 6a..et) $a!5+oin)
Anon+oin) 4i.din( a .ot o& this st&& in the!e) *e +ant ma5e Bit+oin a.. thin(s to a.. peop.e)
a.. the time. I& *e!e (oin( to 4e a4.e to ha!ness this na.te!a4.e) n&o!(ea4.e) di(ita. .ed(e!)
*hi+h is the &i!st p!a+ti+a. imp.ementation o& t!ip.e ent!" 4oo55eepin( *hi+h is a h(e) h(e
advan+ement in te!ms o& a++ontin( theo!" and moneta!" s+ien+e) i& *e!e (oin( to ha!ness
that) *e +ant ne+essa!i." 7st 4i.d into the p!oto+o. atomati+ s*appin( o& +oins 4e+ase
then *e +ant ha!ness othe! ses o! a4i.ities &o! that pa!ti+.a! !eso!+e. 6e +an have a
di&&e!ent a.t+oin that does have that 4i.t into it) o! *e need to 4e sin( CoinS*ap.
Misin&o!mation) disin&o!mation) misdi!e+tion) "o +an pt in&o!mation in the 4.o+5+hain 7st
.i5e eve!"4od" e.se and so) *i.d (oose +hases a!e a .ot o& &n. (La(hte!) At the end o& the
da") *he!e a!e the" (oin( to (et the !eso!+es to +ontine ana."'in( and !esea!+hin( a.. o&
this st&&= I& "o 7st e;ponentia.." 5eep !aisin( the +osts on them) intentiona.." o!
nintentiona..") o! *hateve!) (!eat. Ost ma5e a 4i( Ro.e mess &o! Rem to t!" and si&t th!o(h.
Its a .ot o& &n. I 5ind o& .oo5 at it &!om a pe!spe+tive o& "o need to 4e p!a+ti+a.) "o need
to 4e a !ea.ist) 4t .oo5 at the e+onomi+s and thats *he!e... its *hen "o ha!ness the
e+onomi+s o& the sitation that "o +an !ea.." 4e(in to +ase +han(e 4e+ase not eve!"4od"
va.es &!eedom. %o! the most pa!t) peop.e have 4een a4.e to &!ee !ide o&& o& the sa+!i&i+es
othe! peop.e have made &o! the .ast +op.e o& hnd!ed "ea!s) pa!ti+.a!." in Ame!i+a. I thin5
that *e!e (oin( to 4e in+!easin(." movin( into an e!a *he!e peop.e a!e (oin( to have to
ta5e... &!eedoms (oin( to 4e+ome in+!easin(." a .;!" (ood and peop.e a!e (oin( to have to
4e *i..in( to pa" &o! it and have the hman +apita. and a4i.it" to a+Ei!e it. It.. 4e the!e &o!
peop.e *ho *ant to a+Ei!e it. Even he!e at Inside Bit+oins) A.an >eine!) CEO o& A!mo!")
*as ta.5in( a4ot ho.din( "o! o*n p!ivate 5e"s and "o +o.d te.. that a .ot o& peop.e in the
adien+e didnt *ant to ho.d thei! o*n p!ivate 5e"s to thei! o*n mone". ?DK@//B
SM: 6o*J The"!e not sed to that. ?DK@/2B
$M: 6hen "o thin5 a4ot it) t*o mi..ennia a(o) most peop.e *e!e s.aves and then &ive
hnd!ed "ea!s a(o) most peop.e *e!e se!&s 4t *eve 4een de+ent!a.i'in( the 5e"s o& *ea.th
and p!ope!t". Most peop.e *o!5ed in a &a+to!" and then most peop.e *o!5ed &o! a +ompan"
&o! thi!t" "ea!s. No*) most peop.e a!e &!ee.an+e!s. I mean) *e!e movin( in this di!e+tion o&
mo!e a++onta4i.it" individa..". <eop.e have +!edit +a!ds and 4an5 a++onts. <eop.e a!e
ta5in( a .ot mo!e +ont!o. ove! thei! &inan+es *hethe! the" intend to o! not 4t this is anothe!
step *he!e "o!e .ite!a.." (oin( to 4e ho.din( the p!ivate 5e"s o& *ea.th and p!ope!t"
"o!se.&. That means that "o +an sta5e ot that sove!ei(n) moneta!" 7!isdi+tion in
+"4e!spa+e and thats e;+itin( and A!mo!" is a (!eat too. to 4e a4.e to do that *ith.
Individa.s a!e (oin( to have to *ant to do it. 8o +ant ma5e a s.ave &!ee a s.ave *ants to
4e a s.ave= The s.aves (oin( to 4e a s.ave. Neve! 4e&o!e have *e had an oppo!tnit" to
ha!ness these too.s o& te+hno.o(" to in+!ease o! &!eedom) *hethe! its Bit+oin) Name+oin)
BitMessa(e) MaidSa&e) Ke"<assS) To!) I/<) Tai.s) *hateve! it is) CO$NS) H"pe!4o!ia. I
mean) *e have so man" o& these too.s) peop.e 7st !ea.." have to +.aim thei! &!eedom i& the"
*ant it. Its (oin( to 4e in+!easin(." +ost." to (o a&te! the peop.e that a!e +.aimin( thei!
&!eedom. At the end o& the da") not a.. o& the 4&&a.o ma5e it a+!oss the !ive! 4t the
a..i(ato!s a!e (oin( to (o a&te! the *ea5est o& the s*imme!s and i& "o adapt and (!o* *in(s
and &." ove! the !ive!) the a..i(ato!s not (oin( to +a!e a4ot "o. ?1@01@10B
SM: Mmm. I .ove it. A.!i(ht) *he!e +an peop.e +onne+t *ith "o on the Inte!net=
?1@01@12B
$M: ***.ho*tovanish.+om is a (ood p.a+e) ***.!nto(o.d.+om and then
***.&!ee4it+oin(ide.+om i& "o *ant to (et that= ?1@01@/1B
SM: T!a+e) than5s so m+h &o! 4ein( on the sho* *ith me. ?1@01@/3B
$M: 6onde!&.) than5s Stephanie. ?1@01@/DB
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
&#E!$S:
Than5s &o! .istenin( to Episode 103 o& Lets Ta.5 Bit+oin. Qisit s at
***..etsta.54it+oin.+om &o! mo!e +ontent) s4s+!i4e to o! &eeds) tip o! sho*s and) o&
+o!se) t!" ot a.. the othe! sho*s on the LTB net*o!5.
Content &o! this episode *as p!ovided 4" Stephanie M!ph") $avid I!vine) Tatiana
Mo!o' and T!a+e Ma"e!
This episode *as edited 4" Adam B. Levine
Msi+ &o! this episode *as p!ovided 4" Oa!ed >4ens) Tatiana Mo!o' and Ni.s %!ahm
An" Eestions o! +omments= Emai. adamP.etsta.54it+oin.+om
Have a (ood oneJ ?1@0/@00B