Live: Senate Hearing Recap / NEO devcon mini recap

So I should be going live right now. Hey, what's up everyone? So today we're going to discuss a few really cool topics, which is yesterday we had a Senate hearing recap, which kind of really saved the cryptocurrency markets first of all. And then of course, so we're in this total sea of green right now after the Senate recap. And I think that was really important. So we're going to discuss that today. Then we're going to follow with a mini Neo DEF CON recap as well, because I was at the Neo DEF CON last week, and I think a lot of us were asking on Telegram, how was it? How did it go? And I really want to update you guys on that as well. So these are the two topics I'm going to cover in this live session today. So welcome everyone. Thank you guys so much for watching and tuning in. I will try to have these live streams at around this time generally. So this is the time I'm trying to set it at. It's around 9.30 PM Eastern time. So I hope this is a good time for everyone for a live stream. I hope it's probably like it's good enough for everyone to be not asleep. I think the West Coast and the East Coast and we should be around. So I'll try to figure out what's happening and what's the best time to do a live stream. So shout out to everyone who's here. Hey, hey, hey, everyone. Hey, it's Charlie. How's it going? Hey, Michael Quinton. Hey, what's up? What's up? What's up? Says Ziu Key. So starting off with the market recap today, we have the markets going up to $360 billion. While it's not the biggest growth, it is almost a 10% increase from yesterday. So what happened? What's happening right now in the cryptocurrency markets? Well, yesterday, all the eyes were tuned onto the Senate hearing. So we have both the SEC chair and the CTFC chair presenting to the Senate about cryptocurrencies and talking about cryptocurrencies. And man, was it a good discussion. So I tuned in. I do have to apologize. I tuned in on a little bit late. I started sharing it a little bit late. I should have been on the ball on that one. I just started watching it live. So that's my apologies there. But I did watch the whole thing live. It was an amazing, amazing discussion on the Senate. It actually goes to show that there's a lot of value in cryptocurrencies and in the blockchain technology. One of the things that stood out from their understanding because both the CTFC chair and SEC chair were defending cryptocurrencies. You just see them trying to defend the value of cryptocurrencies. You know, that's why right now Reddit is going crazy about this. This guy gets it, especially the CTFC chair, Giacardo. Giacardo, I think that's how to pronounce his name probably. But he said, we owe it to this new generation to respect their interest in this new technology with a thoughtful regulatory approach. So he's really talking about the fact that he wants to respect it. He doesn't want to ban cryptocurrencies. He wants to respect our opinions. At the same time, he wants a thoughtful regulatory approach. So that's a really cool thing. And of course, one of the things that really stood out for me, I think when the moment they clicked for me to say, you know, they understood this technology was when they talked about the aspect that you cannot separate cryptocurrencies from blockchain technologies. Because we see a lot of countries, for example, China, they're talking about, yeah, blockchain good, cryptocurrency is bad. But the problem with that is the aspect that, well, cryptocurrencies kind of, blockchain technology kind of needs cryptocurrencies. Because with Bitcoin, you have a distribution of Bitcoin whenever a block is mined. So whenever you're trying to do good, when you're trying to be a good miner or a good node on the platform, on the network, you're rewarded. And conversely, if you're not doing good, if you're just wasting that trying to destroy the network, you're doing bad. So how they solve the idea of a distributed ledger, how we want to be a decentralized network, is that we promote the guys on the network that's doing good. So there's an incentive to act in a faithful fashion. If you're a Byzantine and you're trying to attack the network, whatever you're trying to do gets denied flat out and you don't get any rewards. So your efforts are wasted. And I think that's a very important aspect of blockchain technology. You must reward the good actors in this space. And this is very important. This is part of blockchain, if you guys want to describe it, 1.0 design. It is so important that we reward the good actors. And that is why there's mining rewards. And with that respect, with the creation of blockchain technology, you cannot really separate blockchain from, of course, cryptocurrencies. Because cryptocurrencies are the reward for being a good actor. So I think this is one of the really important aspects that they totally got. And I think this is very important because the amount of level of understanding that especially Jay Cardo and the SEC chief had, they understood cryptocurrencies. So this is very different from mainstream media, which sometimes they report articles like Bitcoin is a fraud. It's a Ponzi scheme and an ecological disaster. They see the value of cryptocurrencies and what that brings. So I think this is very important because yesterday we're stuck in one of the biggest irrational fears that I was talking in the video yesterday. So we're talking about how yesterday we were kind of in a free fall for cryptocurrencies. People started believing that this is just a scam. It's a Ponzi scheme. But there's so much value in the technology that this brings. This is a genie that's got out of its bottle. But, of course, because this is new technology, it's so hard to evaluate its value. We're still at a phase where we don't understand how to fully evaluate cryptocurrencies. So with that respect, we're still at a very volatile phase in the development and in the price. And this is why it's kind of interesting as well because the price question did pop out during the Senate discussion. And they very carefully phrased it as well. They responded with the fact that the price is extremely volatile. The systems in place, that's what they said, were effective. Basically, they're kind of sidestepping the price question because the price of cryptocurrencies are so hard to evaluate. This is a technology that really hasn't been seen before. We don't have an equation or some mathematical formula to calculate what the value of Bitcoin, Ethereum, Ripple, or Bitcoin Cash should be. Right now, it's all speculation. It's up to a free market to decide that value. And that means that price is super hard to dictate. And this is why we always say, and this is why in this channel, it is my opinion and not financial advice. Because, of course, there's no way to actually model the growth or even calculate it. There's a lot of hype surrounding cryptocurrencies as well. And right now, we definitely have explosive growths in some cryptocurrencies. We see NEO all the way up to 35% growth. So it's past 100% again. NEM is up there as well with 37%. Maybe a sharp recovery from what happened after the NEM hack. This was also discussed in the Senate discussion. And about how to keep that safe. We have VeChain up around 22% over the lack of, I guess, less fear right now on the market. And we have Icon of 44%. So finally, it seems to be happening that Icon is getting some love after the deployment of the main net. So guys, it's been quite an exciting time. Definitely less boring than yesterday. Yesterday, I was saying that, yeah, it's getting boring. The fear, the FUD, just the kind of the overall depression was getting a little bit boring. It's some stuff that we've seen before. This kind of spike downwards. That's something that's quite common in this space. So, of course, we've definitely seen it before. And, of course, there's some issues with discussing the price as well. So let me just pop out the chat. And I'll have a discussion with you guys about the Senate hearing first. And then I'll talk about the NEO DEFCON as well. So I'd love to hear what you guys thought about NEO. I'm not NEO. About the Senate hearing first. So first of all, I think Reddit is just going crazy over this as well. And this was kind of funny. There's definitely a lot of people in a hearing that love crypto. Look at this guy. So this guy is basically wearing Charlie Lee's outfit. That's hilarious. I thought that was pretty cool. That's pretty unbelievable that he managed to get that in there. There's definitely a lot of support for cryptocurrencies. And the last topic I think they discussed was ICOs. Because right now, one thing that was very well pointed out is that the zero ICOs were registered as securities last year. Zero ICOs were registered as securities this year. This is because ICOs are going the utility route. First of all, they're trying to stay away, step aside from the U.S. So a lot of ICOs don't want to, of course, be featured in the U.S. to be accepting U.S. citizens. Because the SEC might regulate them. So that seems to be the case. There's basically a lot of complaints recently that a lot of ICOs don't accept U.S. citizens. And it's for that reason. Because the SEC could potentially come in and regulate. So there was a warning towards ICOs there. But the overall response was that, yeah, if they are securities and they register securities, why not? So this is something that might be happening in the future as well. We might actually see a movement from basically IPOs to ICOs. And maybe ICOs might regulate as securities. This is something that Polymath is trying to do. If you guys check that out. It's not just trying to list current stocks onto the blockchain. But actually to find a way to regulate and actually migrate from having securities on a securities exchange to on the blockchain. So this is something that's definitely going to be happening this year. This is something I got my eyes on to watch what is happening to observe this situation. Because right now we're talking about regulation. And there is a chance that there might be a movement of securities onto the blockchain. Because there's so many valuable technology. And you can actually just really have full ownership on a decentralized exchange for security. So that might be something interesting to a lot of people. And you might even be able to program smart contracts there for even voting and for dividend payouts. So there's a lot of advantages for having securities on a blockchain platform instead. So there's this talk that potentially even if one security, even if I say the next listing of the next big public company is listed on something like Polymath or another platform like that. It's going to be huge, huge. Because there's just so much money in the regulated markets as well. So let me just check out the live chat. So let me pop this out. Thank you guys so much for your donations as well. So this is a great way of supporting the channel. Thank you guys so much. Thank you, Julio. So you have the comment about Cliff High. I haven't looked that much into Cliff High as well. But, you know, thanks so much for your donation. We have Nikki as well. So Senator Warner says, the potential writ large amongst crypto assets and the underlying blockchain could be transformational as wireless was. I think this is going to need a much more coordinated effort for sure. So this is definitely a new technology and it's going to be groundbreaking. It does take a while for it to really mature. We're still at the early phases of blockchain technology. I think we still have to remember that. We have a lot of comments about what are the application use cases of blockchain technology. And this is something I tried to cover in the last video. We have, of course, gaming coming in. We have true ownership of gaming items. It's something I'm interested in because I'm a game developer. And I want to see something like this in the gaming ecosystem. Because I think something that gamers really want. Last year, gamers were really abused last year with, like, basically, like, in-app purchases. And we have, like, Star Wars Battlefront 2, which was a nightmare because it was both unfair. It had a trading card system that wasn't tradable. It was just unfair PvP. We have, basically, this oppression from the big gaming companies and less item ownership. So I want to see that happen this year. Either with Ngincoin, which is trying to get the indie developers and developers on board into using blockchain to actually list items up and trade items and use smart contracts via their API. We also have WAX trying to bring in, of course, different exchange systems. And, of course, doing real item trading from Steam. So this is really, really huge this year. On top of that, we have VeChain working with the government of China and with D&G LPWC to bring an end to counterfeit. You know, that's huge because, of course, we're using the aspect of a immutable blockchain. So these are really huge projects this year. And, of course, NIO this year. I've been to the conferences. And there's a lot of development coming up and, of course, happening there. So it just seems a lot is happening this year. But, of course, we're still waiting for full tech to mature. Of course, obviously, the biggest application use case of, of course, smart contracts is with ICOs. The biggest decentralized app is with ICOs. And this is something that we pointed out earlier. So right now, one of the things that were quite surprising about Ethereum because when Ethereum first formed, people didn't know what to use it for. What's going to be the best apps? Well, Ethereum really revolutionized the whole blockchain ecosystem by bringing forth the idea of funding new projects via ICOs. Of course, this is very, very controversial. But it allows us to look at things differently. So with that in mind, let's talk a little bit about how that really formed up. And allow new projects to come about. And we have the other alternative, which is, of course, NEO as well. So NEO is the Chinese kind of alternative. This year, of course, what's interesting about NEO DEF CON is that they're moving away from the topic of, say, Ethereum, the Ethereum of China. So they don't want to use that, quote, Ethereum of China. But rather, they want to be a new separate blockchain ecosystem. And they want to be very different from Ethereum. In fact, the whole NEO architecture is not based on proof of work. In fact, it's based on delegated Byzantine fault tolerance. It uses basically trusted nodes that will try to synchronize with each other and vote on the block. So it's a very different mechanism from Ethereum. And I think this is something that we really need to get straight in this situation. And it doesn't use mining. It doesn't use, you know, all Ethereum is mining base. It's trying to migrate to proof of stake. But DBFT is actually still different from proof of stake as well. So I think this is something that should be really discussed in conjunction with talking about things like NEO. Just getting a drink. So in that aspect, I do want to summarize the application. Let's just see. I'm just catching up on chat for a second here. Okay. Just catching up on chat. We have Jason Yang says, Yo, Mike, I sold my house for Bitcoins. What do you think? Well, honestly, with Bitcoin and cryptocurrencies, I actually never invest more than I can afford to lose. So I'm actually much more conservative personally on cryptocurrencies and how much I can do. Because I feel like in the case, in the worst case scenario, I know we have a slightly more bullish market right now. But in the slight case that, you know, we do fall into a slump of two or three years, which is something that I'm prepared for. Because I've been in this situation for a long time, I'm prepared for, say, a bear market of two to three years. Just being ready for that. In case something does happen, I have enough funds to make sure I'm alive. So that's really important, guys. Never really invest more than you can afford to lose. I don't support buying cryptocurrencies with credit. You should always use money that you have spare lying around. It's just the way cryptocurrency works. It's so volatile. It's so dangerous. So that's my, personally, what I'm doing in this situation. Just not financial advice, of course. But personally, I would never even, like, I wouldn't personally sell my house for that. But then again, yeah, I don't have a house. We have Robin says, what do you think of Gibral? I think that's something that I want to cover very soon. So I was at the Gibral conference, and Gibral is something that I'm looking into. So I'm looking into getting an interview with them to actually learn a little bit more about what Gibral is trying to do. And I'd like to thank Gibral Network for inviting me to Korea and giving me the opportunity to speak. It was a really great conference, really high quality. I met Don Tapscott. I met, of course, Dahong Faye there. CZ from Binance. And, of course, I met Eric from ETP. Just so many really old-school crypto guys there. And I think that's really important to meet that up. So, there we go. Crypto Warrior says, BitConnect needs to restore trust. Well, yeah, we got rid of BitConnect. So that was great. That was one of the best things about this whole dip, that BitConnect kind of died. It was the biggest scam in cryptocurrencies. And it was just getting a lot of people, because it was the loudest, because it had the biggest referral bonus, it had multi-layers of referral bonus. That meant a lot of people were just spreading BitConnect. But the problem was that BitConnect had no fundamental business model. It was based on a lie. It was based on the fact that it was promising large, large rewards. And, unfortunately, they can't sustain that for a long time. They're basically using new users that are coming in to pay the old users. And that led to a problem where, eventually, they run out of money, and they blow up, and people lose their money. So, this is probably one of the biggest scams in cryptocurrencies. And, fortunately for us, we got rid of that. So, thank God. So, now, what do you think of Davercoin and BitConnectX? Like I said, if it's too good to be true, it probably is. Like, this is one of the worst things about crypto, and I think we just need to speak out against it more. The fact that there's a lot of promises, if it's promising ridiculously high gains, this is something that should never, ever be promised in crypto. Like I said, in crypto, I'm prepared for heavy losses, just in case, a bear market for a long time. If it's too good to be true, it is. I mean, there's so many different pyramid schemes, and policy schemes, and cryptocurrencies. Just because people think they can get away with it, it's so easy to allocate bonuses to people who push at the top. So, unfortunately, that's one of the things that a lot of newbies come in, and they feel like, oh my God, 40% returns per month. You know, let's go for the high yield investment. Look, guys, there's never, ever free lunch in cryptocurrencies, ever. It's just like, I don't believe that cryptocurrencies is going to make you say, allow you to leave your job and work. You know, I was very lucky that I can do YouTube full time, but I don't think like, but like I still work like mega hard, researching on every single cryptocurrency, researching and getting the details right. It's not free lunch. It's not free lunch. Researching, making sure you understand the technology, and working your ass off is something I believe in this world. I don't believe that you can just magically throw money at something and just do nothing. So, there you go. So, Nikki Hesse says, ask what are the two top books to read in the cryptocurrency space? You know, if you guys are looking for recommendations, Antonius Antonopoulos is a really great read. So, if you look at Mastering Bitcoin, the Internet of Money, recently I got, just to show out this guy, Julian Hasp wrote a book about, not the German version, it was the English version, but anyways, he wrote cryptocurrencies as well. It was pretty good. But, you know, it's pretty much there. So, I have a very important question. So, I saw a lot of questions on, let's see, there's just a question about trading bots. So, we have Alan Bell asking about trading bots. Are trading bots real? Yes, trading bots are real. Yes, arbitrage is real. But, there's a huge but here. The profits that they make are not as big as they seem. And even if there's trading bots, there's a potential for losses. There's multiple trading bots potentially battling out in this space. There's something called algorithmic trading. So, if you look at algo trading, if you look at the Enigma Catalyst platform, they're trying to facilitate algorithmic trading, which is possible. But, there's no guaranteed income. It doesn't always win out. And there's a lot of times that trading bots lose. So, the fact that people can promise a trading bot to trade and gain 10, 20%, it can lend to that trading bot, but that's absolute BS. Trading bots are operated by people, and of course, the more amount of money they get, the more amount of money a bot gets, the less they gain. So, they actually don't want more people joining that bot system. It's the weirdest thing. It doesn't scale like that. For trading bots, there are certain strategies that work, but they only work for up to a certain amount of money. So, unfortunately for that, that means that the more money that the bot has, the less it makes. So, just think about this way. So, if you look at, if you go to any lending platform that says they have a trading bot or arbitrage bot, that can guarantee a certain amount of money, it's most likely fake because they're trying to get more money to be lent to that bot. Bots can't scale like that. Usually, bots are private. Usually, if you look at, basically, algorithm strategies, check out Enigma Catalyst, check out various different trading bots. They're actually quite hard to design, and they don't always win out. There's a huge amount of risk there, and there's no guarantee to the daily trading. Definitely see some negatives sometimes out there, and even just playing a small advantage is what those bots are doing. They're just really playing that really, really small advantage over there. So, there you go on that issue. So, guys, thank you so much for those questions. So, what I want to do is, I did the question and answer session right now, and then I want to do some, of course, talk about the Neo Defcon as well. So, a lot of people were concerned about Neo Defcon, about China, about how China can affect Neo Defcon, and how that works. So, let me just see the live stream as well. We have 1,200 people watching, guys. Thank you guys so much for watching this live stream as well. Thank you guys so much for the comments. I love having comments here because I really want to figure out what's going on and hear what you guys have to say about everything happening in cryptocurrencies. So, let me have the final thoughts on, of course, Neo. I will eventually talk about icons. I've seen a lot of questions from Crypto to Castillo about icon, and Brian about icon. So, I've talked about icon a little bit previously. They just recently deployed the mainnet, but I want to feature that in another video upcoming soon. So, we have, of course, basically, let's finish up with the Neo Defcon. So, Neo Defcon was actually quite an eye-opener for me. It was a very, very high-quality event. So, that was very good kudos to Neo for organizing a Defcon that was very well-organized. It had great guests coming in for guest speakers from basically we have... Let me just check. Let me just check the schedule. Oh, there we go. Neo Defcon. Oh, it's in PDF form. Oh, that works. So, in terms of the Neo Defcon, the most exciting talk was probably the new vision from Da Hongfei. Da Hongfei has really mastered speaking. I think he's really improved a lot since last year, since I first interviewed him. So, Da Hongfei, he was just really great to watch. He was exciting. He had, like, these hints of what's gonna happen. And he kept us on our toes throughout the whole speech. So, that was one of the greatest opening addresses. And I think that's a great way for a coin to work. You have the technical brain. So, that's Eric Zhang behind the project. He's the guy who developed and is improving the Neo VM. But Da Hongfei is a great presenter. He presents the vision. And I think packaging for vision is very important this year. So, that's why I'm much more bullish on Neo this year. So, I told you guys that I was very excited for Neo and I chose to go to Neo Defcon because a lot of my friends in Hong Kong started asking about Neo. How do we develop for Neo? So, that's probably because of one of the biggest projects, Red Pulse. It was from Hong Kong as well. So, a lot of my local friends who are developers started asking me about Neo and that meant that there's a lot of development interest. And this is what always excites me. For a platform that supports smart contracts and that supports tech and that supports, of course, ICOs, the more developers there are for it, the more lively the project's gonna be. So, Da presented that and I think he announced one of the biggest announcements is that Neo wants to scale to 100,000 transactions per second by the end of 2020. So, they want to really scale that and without sharding as well. So, that's gonna be interesting. They're gonna push their DBFT consensus mechanisms to the max. They're really gonna try to use what they have and really push that and extend that without even sharding, which is gonna be crazy. I mean, Ethereum's talking about sharding because they realize that Ethereum, in order to scale, they want to either have sharding to have blockchain within blockchains, which is called Plasma, or they want to talk about write-in network. And, of course, here, they just want to scale to 100,000 transactions per second. And I think one very important thing about Neo is that the way Neo works is a little bit more centralized than of the cryptocurrencies. So, this is a topic of discussion that is actually quite well-known and established in the Neo community now. So, I think one thing that really impressed me was that the community, if you ask about them why they like Neo, why they don't dislike Neo, they can tell you about the advantages and disadvantages very well. So, this is something that's beyond the hype. A lot of the people that were attending Defcon were very well-versed with Neo, and I think that's a very positive sign. So, one thing that was quite important as well is that this year, Neo wants to increase the number of consensus nodes they have. So, right now, it's held by the Neo team. They have around seven, I think, and they want to include more people to host these nodes. The reason why they didn't have so many nodes before was because they wanted to have rapid development on those nodes. But, right now, with Neo being pretty much more mature, they basically strapped on, of course, you guys remember, smart contracts last year. That was really aggressive, if you think about it. Like, they pretty much included a whole new Neo VM into a system. That's like an amazing work of engineering. This year, that VM is maturing. There's going to be slight upgrades to it, and this year, they want to include more nodes. That's going to push Neo to more decentralized heights. So, with that in mind, they want to allow applications for more consensus nodes. And I think that's very important for future decentralized development. Because at the end of the day, I think this is very important. We need to go beyond just thinking, oh, Neo is going to work with Chinese government. I think that's going to be, that's like, I feel like something that's, it could be a potential bonus. It could be happening. They could have some projects. But at the end of the day, I don't hear that many solid projects coming out with Chinese government. The Chinese government is going to do what the Chinese government ever wants to do. This is the biggest kind of rumor that I want to dispel. Neo isn't just about, of course, Chinese government. There's a lot of developers, game developers as well, looking to develop on the Neo platform. And I think that's what they want to do with this DEF CON this year. That's why they held it in San Francisco. They want it to be international. It's a global community, not just the Chinese community. And I think that this is something important to stress and point out. China has been a little bit different from the US in terms of their view on cryptocurrencies. So if you look at the Senate hearing in the States, they're more about like, that's how to kind of regulate this in a thoughtful manner. But China's been like saying, what will the hammer and will start to smash down cryptocurrencies. They don't like crypto. They like blockchain, but they don't like crypto. But of course, the biggest question is, how do you separate these two? It's really hard because of the issue that I was talking about. So at the end of the day, China's taking a completely different approach. I do know, of course, they're building smart cities with, of course, VeChain. So VeChain's responsible to stop, of course, their counterfeit issues that they have right now. So they're trying to do that in China. They're trying to use blockchain, but they don't like, of course, cryptocurrencies. That's a very, very big difference. So right now, we're still at the stage in China where it's kind of in between. They just recently tried to ban, of course, foreign exchanges. So they want to kick those exchanges out of China. Of course, they were already pretty much kicked out anyway, so it's not the biggest deal in the world. But of course, there is still a lot of fear of potential ICO refunds or whatnot in China. with the newer ICOs. But that's why in China, they're talking about ICOs as donations. If you looked at Trinity, that was the last topic I probably want to cover. There's a lot of new projects coming out of Neo Def Con as well. One of them is Trinity, which is basically scaling for the Neo blockchain. It's essentially Lightning Networks, Tier 2 Networks, Lightning for Bitcoin, Riden for Ethereum, and then Trinity for Neo. So that was the project I've been following. David's such a badass. Lola's such a badass as well. So those are two projects that I'm basically, I guess, more friends with, being friends with Lola for a long time. And she provided a lot of the information coming out of China for this channel. So if you guys watched me during the whole China FUD incident, the exchange ban last year, a lot of the information was actually kept up to date. And of course, I have to personally thank Lola for that. She helped me a lot with what was happening in China because she's locally there. She knows what's happening. And she's actually done a lot of media as well for China. So I think that was a great way to have some local insight into what's happening there. So in that respect, of course, Trinity is awesome. We also have, of course, next as well, Ontology. Everyone's excited for Ontology, which is basically done by the OnChain team. So the business development side, the more enterprise team of NIO. So that's kind of quite interesting as well. I think that's exciting a lot of people on that network. So definitely extremely lots of interesting things there to look at. Definitely, I think for me personally, like I said yesterday, I'm very interested in the tech behind everything because this is what's really going to change everything. For me, price is really secondary to the tech because the price itself changes so fast. You know, that's, it just fluctuates. And it depends on this kind of weird news dynamic where someone, which is quite true, there's a lot of pump and dump groups here and a lot of times it's dictated by either whales or pump and dump groups or just general mainstream media fuds. So unfortunately, with the price, it's like, it's so hard to predict unless you're the guy running pump and dump groups. Unless you're that whale that's crashing the market. Unless you're mainstream media, you know exactly what's going to be released. If you don't have those advantages, like me, I'm more focused on technology. I prefer, of course, technology and, of course, the long-term vision for cryptocurrencies. So we definitely have, of course, different kind of competing technologies this year, which is going to be interesting. So I'm trying to build up a list of scaling solutions for cryptocurrencies because scaling is important. We've been following and I've been checking up on Ivan on Tech and he's following Lightning Networks for Bitcoin because this is something that's going to be quite huge for Bitcoin as well to try to solve scaling to try to really push Bitcoin to the max and, of course, there's other scaling solutions as well. I've been looking at Matrix Chain, been looking at high-performance blockchain, been looking at all these alternative solutions, blockchain 2.0, blockchain 3.0 and now even blockchain 4.0. There's a lot of new ways to kind of really push this technology forward. So this is something that's very, very different and, of course, actually different in there. So I just had a really cool comment just come in from Marco. China needs to stand up to government. They need freedom. Those people are in jail. It's sad. They do what you want with your money. Very sad. So China is actually very different. So it's quite important. China for, the government is actually really important in China. They have a lot of citizens and I guess there's much less freedom of speech in China. So it's a very different dynamic there. That's just the way it is. So we have Zuki says, Woo, he said it! High-performance blockchain. Yeah! So yeah, I've been looking into a lot of these technologies. I've been talking about scaling for a while. So I do want to compare these different scaling techniques. There's no one technology that's going to win out, but it's going to be very, very interesting to see what's the competition going to be like. So guys, smash up the like button. I think what I'm going to do from now on are these kind of 30-minute-ish episodes on live. Try to answer one or two issues. Do join me on Telegram because of course, on Telegram, this is where I get a lot of the ideas for discussions to talk about. And of course, I love chatting with this team overall. I've been trying to think of a name for our community. I think one thing I really want to thank as well is this whole community which has been really positive and helped me grow. A lot of the suggestions, a lot of the ideas completely come from the community and I want to really show my appreciation. So we have Telegram chat, we have the forums as well, and of course, we have the announcements group. So guys, check that up if you guys want to talk and chat. I'll try to be on there as much as possible and try to answer questions and of course, try to make live episodes that try to answer a lot of these questions as well. And I'd like to thank you so much for the suggestion to talk about the Neo Recap. I wanted to do this for a while and this was one of the suggestions today to talk about the Neo Def Con Recap. I also have some additional footage from Neo Def Con so I'll hopefully cover that in the near future as well. And I'll take a look at the Gibral Network because of course, that's going to be quite exciting and it's coming up very soon. So guys, thank you guys so much for watching this episode. I've also been trying to think of a name for our community. So we've been, you know, thinking of how to refer to ourselves as a community. Just give me a second. Just seeing too many messages up here. So think of a name for community. We've been thinking about either Team Box Mining, Box Nation, I think, Box Army. Yeah, we've been thinking of a good name for that. So I still haven't decided on what to call ourselves. I think we can have a vote somewhere if you guys want to choose from different opinions. I think maybe we just have that on YouTube. That might be quite fun as well. Box Miners. But Box Miners, we're implied that we're all mining so we don't all mine. So there we go. So I kind of like Team Box Mining, kind of like Team Box Nation. Those are potential some names. Box Munchers. No Name, Box Heads, Boxers. Yeah, guys. So I'll try to put a few name suggestions up on YouTube and we'll start voting for that whenever. So guys, thank you guys so much for watching this episode. Of course, remember to smash that like button to get this channel up into the stratosphere. Guys, it's coming up. We have a bounce back. It's definitely going to be a very volatile and fun time in cryptocurrencies. So February is coming up. We have the Satoshi Roundtable concluding today. Satoshi Roundtable happenings right now. And we have upcoming, of course, consensus, one of the biggest conferences. So I'm pretty excited for this year. We had a bad start in February, but of course, I'm pretty excited for the rest of this month and the whole of this year. It's going to be a very exciting time. We definitely saw it end to BitConnect. It's not the end of pump and dump groups. It's not the end of, of course, scams. But hopefully, as a community, we can learn together to avoid that. And I really want to build that with you guys. So thank you guys so much for watching this video. Thank you for the 2,000 people liking. Do smash up that like button. I'm going to smash it myself. But yeah, thank you guys so much for watching. See you guys.