The Bitcoin Group #76 — Who owns CoinTelegraph? – Overstock’s T0 – Bitcoin can’t be owned & hoar…

the Bitcoin group the American original for over the last 10 seconds the sharpest Satoshi's the best bitcoins the hardest cryptocurrency talk we'd like to welcome our panelists Theo Goodman from transmission doc rocks good evening ladies and gentlemen will penguin from Satoshi social and now our bits hello and I'm Thomas Hunt from the world crypto network moving on to issue one issue one who owns and runs coin Telegraph coin Telegraph who some would label the most the second most popular Bitcoin news site just behind the venerable coindesk came under fire this week with a reddit post saying they were shutting down ASAP chain question asking who owns them and a mad bitcoins exclusive interview with former coin Telegraph contributor Ian DiMartino where he claimed that coin telegraph was often paid to promote Bitcoin companies and may have even been owned or operated to promote white corn and other early crypto note coins Theo Goodman your thoughts on these shocking revelations unfortunately in our space I'm not sure how shocking they are but i think the extent to the story is a little bit surprising the one on the main point with your interview with is that uh there was a CEO that wasn't really the CEO i think that's pretty surprising because i think a lot of people thought that that person was the real CEO a lot of it sounds kind of like a TV show or a movie some of the things like you know there's this guy here and nobody knows who's the boss and sometimes we get paid this much and sometimes we get paid that much unfortunately i'm not totally shocked i think that if you do it's okay to write promote companies on your website as long as you somehow mark it as a promoted promotion article or market as some form of advertising that's just fine but when you when you don't do that then that's definitely questionable you could say and these are things that have come out but I'm not shocked will payment yeah I mean I think a lot of us have been hearing rumors about coin Telegraph for many months now I've been friends with a few of their writers who have you know written exclusively there and then decided to kind of broaden their horizons and then leave all together many months ago even and of course yeah like your interview with in kind of elucidated and and like Theo just pointed out there's this person calling themselves CEO who doesn't have vision me our isn't really a CEO and these writers you know friends of mine I'm asking like so there's a CEO what's going on what's wrong you know and they're like well she's not the CEO or whatever so I mean I don't know I don't know what to make heads or tails of that but it's always seemed very suspicious and just kind of goofy like a TV show like Theo points out so I mean this is kind of you know we're seeing this a lot there are people behind things in Bitcoin who want to remain anonymous I mean you know and there's nothing wrong with that i mean there's a great products that do that you know and have public representatives like for example dima marrek popularly known as rasa he's the public face of the mycelium wallet and you know it's not really a secret who's behind mycelium but it's really not public at all and this is kind of a thing and that's totally okay but when you get into you know any kind of improprieties and of course all of these Bitcoin publications and not just Bitcoin publications but others they definitely take bribes for for you know getting you know from company will outlet to push your press release of course there's you know aboveboard relationships like that and there should be disclosures of course but yeah I don't remember seeing much of that from coin Telegraph and they were always getting criticized I didn't have too much of a problem with the reporting there but I continually saw people on reddit complaining about factual errors and just various inaccuracies and even tickle claiming that there's like amateurish behavior going on there and I don't know for sure I don't know anything about any of that but yeah it's it's it's very weird but again we've seen these kinds of failures or just evaporations of businesses in Bitcoin before so and it is worth noting will that it's okay to be an anonymous producer of a Bitcoin wallet or anonymous producer of some software but it's really virtually unheard of to be an anonymous news orgy news agency usually you know who owns the New York Times for example you know who owns the Sacramento Bee all these media companies are very public and you can look them up and that has to do with trust when you're trusting a news organization it does make it easier if you know who owns it if you know that they have some biases already like more tuckerman owns the US News and World Report we can assume more has biases he's a liberal those go due to his newspaper Roger Ailes owns Fox News he's a conservative he has conservative biases this is what the ownership knowing the ownership lets us know and we did have some follow-up stories that were from our Bitcoin let's see oh this is the wrong kind of screen share let me try this one more time with autonomous what they're bringing that up i just want to point out you know there's it's kind of a meme lately but there's four to six i think it's even down to like five or four major multinational corporations that own all media basically in at least the u.s. right this is kind of a meme lately and that's kind of like secret sort of control you know most people think that there's impartiality in some source but really you left by a source and a right biased source could be owned by the same parent company you know General Electric and Viacom and Clear Channel and the list goes on right so there is some kind of we're you know we're just now becoming familiar this I think bitcoins transparency brings this all to the surface you know of the Internet as well like that the word gets out there's only five multinationals that own all the meat yeah not hundreds of companies so that is true will there are only about five multinationals that own the media I just think with Bitcoin we could do better and especially the kind of people that we have in Bitcoin they're more interested in decentralization they're more interested in in ownership so here's a bit of what we learned from our Bitcoin David Bailey from BTC media who also runs Bitcoin magazine says that it's not a conspiracy he says that coin Telegraph is owned by a russian man named emai or edema and that he met him at a bitcoin supper club and he was a nice guy Jackson Palmer from dogecoin also chipped in saying that it was majority owned by this guy and it linked to a linkedin profile that was previously owned by a russian man named Dima who may or may not have deleted his profile we also had an interesting piece of evidence sent to us via email this is an altcoin promotion campaign step by step guide presumably from CT it says CT instead of coin Telegraph but we'll assume that's the same and it explains how you sign a contract paid in your coin coin Telegraph and integrates your coin with one of its partners casino platforms coin Telegraph makes use of its social channels to promote the campaign note the heart that means love users purchase a minimum of ten dollars worth of your coin on any exchange and make a post on social media linking to your site users then create an account at the casino or top up their existing accounts with a minimum of ten dollars in the relevant coin users begin to play at the casino the user can cash out his coin if it increases by 10 times in the first month if the user is unsuccessful and loses all of his coins at the casino and as a result receives a refund of lost coins but to his wallet no more than a hundred dollars so this is a pretty interesting campaign looks to be from coin Telegraph but we can't be for sure on this it just just say CT but it is interesting to think about the kind of pay for play type operations we have here where a company wants to promote their product and maybe they have a great product maybe they don't really need to promote it in this way but it's really hard when you're a company understand they probably want to pay and it seems like a group like this may be offering them the chance to do so we did have a follow-up interview this morning with a van der smart who currently works at coin Telegraph and he said that everything seems to be fine now as a writer he's been paid regularly and what he was agreed to be paid and he's had no editorial control imposed on his articles so the new coin Telegraph may be completely different than the old old coin Telegraph but as we continue to get these reports we're going to continue to bring you to them and and you can make up your own mind you decide we're trying to give you both sides of this issue and you know if the owner wants to maintain his anonymity and be invisible that's his option but we're going to continue to report on whatever anybody senses exit question who's more at fault the companies who pay for fake stories or the journalists who print them without attribution feel good I think that it's hard to say who's more to blame but I think that we need to remember journalists that are willing to do that are also journalists that are willing to write for really cheap are partly to blame for this whole thing so all you content providers out there don't let yourself get paid cheap will payment yeah I don't know if I understand the question I think who's at fault is whoever allowed their business for asylum I like to assign it as close to the root as possible alright will your audio seems to be breaking up you might want to try turning off your video that might increase your bandwidth level but we're going to go ahead and move on to issue to issue 2t0 overstock CEO patrick byrne continues to be the world's second-greatest revolutionary right behind Satoshi Nakamoto himself launching a partnership this week with the Industrial and Commercial Bank of China the ICBC the world's largest bank as well as five other banks to create what was formerly called with DC and now is called t0t0 plans to offer public and private equities as well as the ability to short all with blockchain based technology burn himself during the live stream claimed that the technology would be ledger independent and did not name a technology partner leaving Bitcoin etherium and counterparty fans wildly speculating will penguin your thoughts on burns amazing new stock market machine how am i sounding is this all right my good huh sounds all right great um yeah I'm a big fan of this effort I'm a big fan of Patrick burns vision in his mind his foresight a lot of people that you know I've been mentioning on the show quite a bit over the last almost two years that you know this is a guy who had foresight the likes of which we haven't maybe seen since the joshi nakamoto or you know Wes you uh of all of the Wall Street corruption and naked short selling and all this stuff uh you know in in the early 2000s so his research really you know he was a most hated man on Wall Street for those reasons and then Bitcoin comes around and he sees right away the answer to his problem so good on him to be losing you will you're starting to speak in computer language Theo Goodman it's really a great innovation I really like what he's doing and I think that's kind of what will was alluding to that you know he's years ahead so he's already been he had the foresight to already be working on this for you know over a year and I think that really shows a lot and right now what right now you see a lot of banks saying oh yeah blockchain that's kind of cool we need to do it oh yeah we are working on blockchain but you know he was already building this marketplace long before all of these other banks and institutions were even considering using blockchain technology to do it I also think it's really interesting that you know there are there's there explicitly saying we're offering you know shorting so that's really good because you need to be able to go long you need to be able to go short you need to be able to do all the things you would normally be able to do and now you can do it in a quote honest way so that's going to do away with naked short-selling presumably and a lot of other things that are basically forms of fraud and trickery and I think that's really good so now we can have a real conversation so this market is going to be an honest conversation because every market is basically a conversation and now we can have a real conversation we'll go ahead yeah hopefully this is a little bit better but I just want to direct people to deep capture calm this is Patrick burns early project in the early 2000s that was uncovering all of the Wall Street improprieties naked short-selling he saw this coming way down the road when bitcoin arrived on his doorstep he realized the removal of the middleman and how powerful that was with Bitcoin and applying that to the Wall Street Stocks settlement process which is incredibly convoluted he does a great job presenting that in this announcement video so go to youtube go find that video and then realize how prescient this man is on deep capture calm alright that website again was deep capture calm exit question if Patrick Byrne was John Galt and asked you to go away with him to a secluded mountain range in Colorado to work on projects to make the world a better place would you go Theo Goodman sure why not sounds like fun I mean I wouldn't want to know a little bit more about the conditions of going to the secluded place in in in the mountains but uh yeah I would say yes you get to share a tent with patrick byrne himself will Pegman hundred percent yes the answer is maybe but Colorado does sound nice full legalization sounds very nice oh we should have a right page for the right page let's try this deck out the brand new purse dot IO where you can save twenty percent just for spending bitcoins how do you support Bitcoin I spent it what do you think money is for spending spend your bitcoins today at purse dot IO issue 3 Bitcoin can't be owned says Japanese Court japanese-quartz made some major mistakes today as they misunderstood thinking that something cannot be home simply because it is virtual or requires third parties to hold it to make its existence verifiable bitcoin is real it can be owned and Japan is going to have to change their laws because otherwise carp Ellis goes free mark our pellet CEO of Mount Goths lover of cats accused operator of a Willie boss that drove the price up currently sits in a jail cell in Japan awaiting trial will payment are the japanese quartz correct and if bitcoin can't be owned should mark carp Ellis be set free um this is a tough one because you know in my deep dive of Bitcoin I started to realize that it really shakes the foundation of lots of construct in society and I think one of those constructs is potentially the ocean of property itself or how property relates to corporate personhood so i'm gonna say maybe they're right but i don't think they're right for the right reasons you know there the it's probably legal mumbo jumbo and their regulations I'll tied up that are confusing for you know these people oh they clearly don't have the understanding that they require to to prosecute this case apparently and you know hopefully justice is served on car Cullis you know Theo Goodman yeah I think that um Bitcoin can be owned and they're going to have to figure out what's going on and just take another look at it exit question putting this non Bitcoin ownership nonsense aside the car pelas verdict forced prediction guilty or not guilty will payment well Japan has a notoriously egregiously high conviction rate so I'm gonna say guilty do Goodman guilty there is the answer is guilty moving on to issue 3 issue for even some pictures maybe here we go issue for some would say that bitcoin has a hoarding problem in order for bitcoin to truly become a currency it must flow like the current that's what the word means currency that which flows and bitcoin is not flowing are large hoarders and companies designed to centralize bitcoin putting dams on our river of dreams do goodman your thoughts is all we have to do to spend or is it more complicated than that graphic it's more complicated than that that's the short answer of course spending is is good and hoarding is good too because the less settling goes on the less the price goes down so but um yeah let's I definitely think at this point it's good I always encourage people to buy stuff buy stuff with your Bitcoin that's always a good way to do it if you were thinking I want to sell my bitcoin for cash or just buy something and there's a lot of ways to buy it not to mention the plug in the middle of the show that's also a good way to spend your bitcoins but there's plenty of ways to do it you could also donate there's plenty of ways to use Bitcoin and if you're if you want bit going to grow then spending bitcoins giving bitcoins away that's what's going to do it not giving a whole bit quantum a little bit little bits to people but spending bitcoin is definitely going to make it grow now it might matter you might could say okay it depends on where you spend it if you spend it at somewhere and they're just turning it directly into fiat and so on yeah that that there's a point but I think right now just spending it definitely helps the whole ecosystem grow and if we're ever going to have a Bitcoin economy where people stay in Bitcoin then people are going to have to spend theirs that's the only way it's going to happen so hoarders buy some and remember just because you spend your bitcoins doesn't mean that you can't buy it back if you want to keep your holdings at a certain level like five bitcoins and you want to spend a couple you can just go ahead and buy them back put them back in your holdings or just buy bitcoins for the small purpose of spending them don't think about them as an investment and the value going up and down think about buying them spending them done will payment your thoughts yeah so definitely think that hoarders have to buy Bitcoin in the first place in order to hoard it so hold on there soon it sounds very very there's a very very sad dog in the hallway I'm sorry everybody oh yeah you have to buy bitcoin first if you're going to hoard it right so and also spending bitcoins is great you know but we need to close the loop and there's a bunch of different ways to do that one one way is to pay your vendors and pay your employees in Bitcoin or if you have short like long-term contracts you know to price them in part of them or some of them or whatever hey maybe not your books have it onto a comment I for one I'm starting to question the value of this whole San Diego thing it sounds like bad internet loud dogs I guess the weather is nice right at least the weather's nice well we can't really hear you will so we're going to move on exit question what's the last thing you bought with Bitcoin and what do you want to buy with Bitcoin that you haven't bought yet Theo I'm going to avoid the question and I'm going to say the last thing i did was i donated today with bitcoin there was a guy over at lab IM and he fell ill covert patron and he's a really cool guy in just a few weeks ago we were talking about how he could use Bitcoin in the he already does homeless outreach in cincinnati and you know was basically just explaining bitcoin to him and it was really funny the first time i did a live a live stream on there it was about bitcoin he came in the chat and he was really um aunty bitcoin he said you guys are just talking about money all the time what in the world are you guys doing and I was like okay I get it I get it and I ended up talking to him and we got along really well and now he's fell ill and we've done a lab athan over there blab IM we there's been a 24-hour blab and people have donated bitcoin so that's what I that's the last thing I used Bitcoin for besides trading very cool let's see if we can reach will well how's it going it's going alright last thing I bought was lunch and then the thing I'd like to buy the most is a Tesla a Tesla no no starting at the bottom for you I think the last thing I bought was cliff bars which I'm going to eat for breakfast and I bought more oatmeal that I'm also going to meet eat for breakfast that's how I'm going next so yeah I'm starting when you start doing the purse thing you start working down what categories of things can i buy and I bought clothes and now i'm buying food and it's like pretty soon used to start buying everything in Bitcoin and i think it's a lot of fun so we're moving on to questions and answers but there seems to be no questions so we're going to give no answers Theo Goodman are you ready with a prediction or a story of the week yes I am ready as always ladies and gentlemen with story of the week the story of the week from me is etherium launched but i think that was last week but guess what the website bit mix com has now offered future contracts for etherium the first-ever futures contracts so you can go long and short on athyrium i believe up to 15 times leverage or maybe 10 times leverage in any case it's the first ever athyrium futures contract over at bit mex and I think author and it makes it they're doing a good job and that's a really interesting product so that's the story of the week will payment prediction or story of the week I think I'll go story of the week and a tie a prediction to it so sort of the week something I just learned that bit finnex appears to have pulled out of New York because of the bit license of course this is one of the biggest companies in the space probably the biggest exchange and they're leaving New York and my prediction is they won't be the last and they won't come back either moving on prediction all you need is love can't we just talk about this Bitcoin companies continue to gather the ranks and circle the wagons as we enter into this intermediate period of Bitcoin history but will it be enough can bitcoin companies survive forever without profits can they survive without fees will all the king's horses and all the king's men ever put Humpty Dumpty back together again oh we're out of time until next time bye-bye

3 thoughts on “The Bitcoin Group #76 — Who owns CoinTelegraph? – Overstock’s T0 – Bitcoin can’t be owned & hoar…”

  1. Is butterfly labs behind cointelegraph too! lol

    THat band of crooks owwn loads of internet sites that rob people

  2. hi this may be really simple explanation but do you guys know on coinbase it has a graph with number of daily bitcoin transactions on the blockchain and the number ot transactions off the blockchain. How can the transactions be off the blockchain?

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