[00:03] daily very special episode today we have the guest of honor a man you know entrepreneur billionaire founder and ceo of binance the largest cryptocurrency exchange in the world by daily trading volume
[00:17] the world by daily trading volume the man the legend cz of binance man thank you for coming on today thank you thank you arnold thank you for having me you're welcome to be here austin austin yes our last name is
[00:31] um i know it's late night for us we're in la i know it's early morning for you the question everybody wants to know is what do you have for breakfast today it's easy um i had some cereals and the egg so
[00:44] it's the same same stuff as everybody nice recipe cheerios uh actually i don't know i don't even know know the brand i just need whatever's in put in front of me so one of the many
[00:58] but we'll get into it um for the folks at home here's the game plan today hangout conversation we're going to talk big picture cryptocurrency and bitcoin type topics
[01:12] if you have a question for cz who is a man who's been in this space this is the if you want just some clarity and perspective big picture wise for cryptocurrency aaron hey for some reason this went on a
[01:26] scheduled major major faux pas so do we just yeah i guess we continue i'll tell everybody get to the new stream okay underwhelming
[01:40] um but okay yeah so for those listening we'll remind you along the way um for those of you who have questions for cz um they'll be filtered through us of course but now is your opportunity so um
[01:53] aaron should we get right into it let's get right into it this is going to be that's awesome first type question it seems to me that things are starting cryptocurrency after a prolonged
[02:06] bear market um what are you most excited for short to midterm for crypto um i think does not uh i think for me it's really just now this time when we're going through this financial crisis now or this turmoil
[02:20] ourselves with and most people are still a lot of people still don't know about it's more or less proven uh over the last 10 years so having cryptocurrencies around is is a really big game changer so i
[02:34] i don't know if there's any particular one project or one aspect that gets me super excited but i think i'm just very excited to see we're seeing uh from every aspect we're seeing more data more users coming in
[02:48] learning about it and we finally will be able to move and into uh more or less into a more uh decentralized and fair financial system so hopefully that was that shift will happen over the next
[03:00] few years so i'm really excited with that yeah and i think i read in a recent maybe it was bloomberg or maybe just coin telegraph type article whatever it was i think you said be careful thinking
[03:12] that bitcoin is a safe haven like that is the um the hope and the thought around it can you elaborate on that a little more simplistic view of safe haven assets or different
[03:25] definitions of this type of terms it's not black and white so in the real the real world is slightly more gray scale than that time horizons if you look at a longer time horizon i do believe
[03:38] very much btc and other strong cryptocurrencies will be a safe haven asset um but if you look at short term um uh there are strong short-term correlations because the traditional markets are so
[03:51] and when they move when when the traditional markets crash or when they go up when they crash everybody's short on cash and um a lot of the investors uh who are investing the stocks also invest into
[04:03] want to hold cash so they will sell their crypto at the same time as well their crypto at the same time as well and when stock markets do well everyone and some of that money was spilled into crypto so crypt is so small that it gets
[04:17] affected by a much larger market so um short term it will be highly regardless but i think if you look at a slightly month years if i think if we look at back in two
[04:30] years five years ten years i think we'll see another tremendous growth in crypto and less so on fiat so i think it is still very much a safe haven asset but you just gotta understand what that term means and
[04:42] don't take it like look it's because this have saved heaven uh every doesn't work that quite that way right yeah right right exactly and speaking of that i know you like bitcoin i know you like bnb
[04:57] now general big picture wise what other coins do you think may have that long term potential um so uh yeah i can't really comment on any other specific coin those two those
[05:10] are the two that i'm really uh able to comment on um but to be honest i actually don't invest in other coins myself um finance actually takes commission fees in almost every coin
[05:22] who don't know that when you hold b and b some people still just trade on whatever they have and then uh so binance actually gets a collection of every
[05:34] small bit at a time pretty strong mutual position for us to have in the industry hold them until i don't know one day some coins go to
[05:47] because there will be a number of failures in this space and private preference they change all over time um i do support the sort of top coins a bit more i support ethereum
[06:02] quite you know well they allow a lot of innovation in the space with the smart contracts and now d5 et cetera i also support a lot of the sort of ethereum copycats binance chain
[06:14] kind of is one to be honest in a lot of extent uh even though we broke the code from cosmos but a lot of philosophies came from so i support a lot of those projects that are innovative and pushing the
[06:27] so i'm not the thing i'm not is i'm not against any coin in general unless or unless they're kind of not being worked on anymore i'm not we should just look um there's no more development we should stop it
[06:41] uh but in general i'm not against any coin by principle i had a other question give us uh i always want to know you know you've been since the very beginning i love to get a sense of who you were
[06:53] before you um got into binance like did you come in as a traditional bitcoiner cypherpunk libertarian or which coins did you connect to and get interested in at the beginning sure i mean i got i got i got introduced to bitcoin in 2013. so
[07:09] background programmer to begin with computer science um kind of uh in college so more of a tech definitely on the technical side and i worked in a couple i worked in bloomberg
[07:24] on the tech side but doing futures trading systems and then i worked even before that i worked in a couple sort of uh uh i was a fintech or like specifically trading
[07:36] companies so i've always been in sort of the exchange tech space you can call it fintech if you want i'm not a strong laboratory libertarian so um i understand i
[07:50] libertarians and i can understand their views but i'm not that extreme of have a i want to achieve have a balanced view i i look at things in life as there's a balance to be achieved in most
[08:04] places so i'm not like anarchist i'm not against governments i'm not against strong uh uh strong libertarian view but i do uh agree with a lot of their principles um i think like uh i read the book the
[08:19] law uh which is written 170 years ago um i i i'm a very freedom driven type of so i think people should be given a very high degree of freedom things that that are really bad uh so for example if
[08:34] if you take somebody's property without those type of things yes we should be protected against and but by and large we should give people a
[08:46] large degree of freedom to exercise their own thinking choices but i'm not a complete libertarian at the same time i think for world and lived in different parts of the world
[08:58] canada vancouver montreal i lived there for multiple years in each city and then tokyo a few years and then new york a few years singapore hong kong so been moving around the world and um i
[09:11] don't really have a strong narrow national nationalism either so i don't other countries and that's the country i'm gonna uh uh towards too so i have a very neutral
[09:26] uh it's one it's one little planet that we live on we haven't been able to move away from it just yet but we're all just humans and we're all people and people everywhere so i think more of an international view
[09:40] and when you take that um having that experience allow gives come into bitcoin it's like wow okay this is a truly inflation there's no quantitative easing uh
[09:52] transactions through board acro across borders is really easy so that's what how how like how i got into cryptocurrency and what kind of some of the aspects i think that drew me into cryptocurrency in the first place
[10:06] so yeah interesting i love it i just want to say uh over 1 000 people uh real quick so everybody if you're watching right now hit the like button you're going to see so much more people uh uh tune in to
[10:20] this stream cz knows how it goes um i so you never got into this space as a bitcoin maximalist like even at the because a lot of people i feel come in and they stay a maximalist
[10:32] that never was the case for you no uh so i think to be honest the the concept of any coin maximalist is kind of counter towards freedom i mean uh we the the whole thing about the centralization is people should be
[10:46] each individual all right uh decentralized so their own tokens and for their own projects and to do fundraising and to build interesting stuff
[10:59] coin we should not have to force everyone to use one bitcoin uh and issues etc um so i think bitcoin will be the king uh he's a grandfather of cryptocurrencies and when you learn
[11:14] bitcoin so it's for a long time to come it's gonna it's gonna be the king but um dreaming world we the everyone's free to do what they want as long as they don't hurt other people so other they people are free to issue
[11:30] coins um and uh uh have innovation uh i think if everyone just works on bitcoin you may actually limit into innovation so i think we should have different experiments going on faster blockchains
[11:42] other crazier blockchains uh other centralized all of those things are interesting to me so i'm not a yeah so i was never a bitcoin maximalist but i don't hold that many coins so i
[11:54] only hope today i only have bitcoin bmb so i'm not investing in all kinds of different things of course but i do encourage from to develop other blockchains and go for innovations innovation is good
[12:10] probably seen you're one of the few people that have probably seen the cryptocurrencies uh attempt to get listed on binance so you've probably seen the great ones and the bad ones what um best practices
[12:25] would you say would you suggest to a person um that wants to start or a business that wants to start their own cryptocurrency and do you uh so yeah uh um actually written a little bit of uh about this
[12:38] uh like three years ago i would say for the for the project funders questions you should ask yourself if you want to issue a token um yourself uh it's um like if you only do one thing
[12:52] um if there's something that you want to do if this is the project that you want and if there's one thing in life that you must do now or later and it's also the same thing if those two things match and if the question to
[13:04] is yes then you're probably at the right place to start a token uh to to launch a project and uh that would be your life's mission for the um you may be difficulty maybe good it may be easy it may be good
[13:16] challenging uh and it's going to be uh it's going to be very tough usually period of time um the other aspect is uh i would highly recommend people spend don't use your token too quickly
[13:31] i would actually recommend people to build a product first before they issue a token so um once you use your token it's very hard to only issue that so let's say like uh you say i'm gonna build the next big thing and
[13:44] the idea is great and then you raise i don't know 10 20 million dollars using crypto now thousands of people have invested in you and your names out um and if you fail uh thousands of
[13:56] their money and they're going to complain and [ __ ] and you're gonna hurt other people so uh and products have a very high so uh and just being able to build a product is already difficult
[14:10] so i would i would i would recommend people using a small a smallest amount possible to build a product and get some market fit test of traction then you should talk and say look raise
[14:23] when the project fail it's really hard to only issue the token so you buy back you probably spend the money already uh on product development um you will not be able to buy it back at the original price uh if
[14:36] so all of those things hurts other people and in turn hurts your own reputation so um i would really recommend first and know there's a market fit and then issue a token so that would be
[14:50] now we're we do have a couple super chats i want to get to those in a second um you talked about how you're not a bitcoin maximalists because the most freedom is people's ability to choose what they
[15:03] really well but other coins um you know there's give and take with everything maximalist argument isn't that you can't uh you know speculate on these coins it's just that
[15:16] those other coins decentralized and censorship resistant or the most looking
[15:28] take up well how much of the crypto you know going farther in time did you see bitcoin taking up as far as total crypto market cap um to be honest i think
[15:40] decrease um not short term um so there are things so so i think that people can bring back to bitcoin like second layer of solutions etc
[15:56] but when a technology is out already is adopted for 10 years there's a very there's relatively more limited scope that you can sort of uh uh update it so once the technology is out
[16:08] the framework's kind of there and it's it's adopted um technology like with uh software with programming languages like so those kind of iterations with the rust now so
[16:22] right so if you really look at to take a longer internet that's html one two three four five there's like browser uh shifts into different platforms the first search engine is now the
[16:36] search engine most people use today um the first social network is not that either and also like previous strong companies like ibm microsoft are companies they're still big but so things change
[16:50] they're still big but so things change um it's not i think look if you look at 10 20 50 years later i think it's totally conceivable that something new better than bitcoin i don't think we will lose bitcoin
[17:03] so i don't think bitcoin i don't think we'll go back into fiat just okay limited test it's gonna it's gonna be there well it's not gonna it's not gonna disappear but something
[17:16] invest things that are new and better and when you have a full like a large uh revamping that is actually slower than building something new is built um it's kind of still difficult to get
[17:32] smart contract capability onto bitcoin um bitcoin's not super fast uh et cetera blockchains that's being built right now uh so ethereum actually have some they're much faster blockchains they're much uh there's a lot of nice
[17:46] guys who copied the ethereum and added more features to it and made it faster so all of so we live in a constant iteration uh iterative process and uh i think for the foreseeable future though for the
[17:58] future bitcoin dominance will be the most dominant one uh bitcoin has a strong network effect being that anybody who comes into crypto will learn bitcoin first and so and given that 99.9 of the
[18:10] so bitcoin still have a large room to grow but look if you ask like 20 years is this still going to be king 100 years from now a thousand years from now not sure things just change over time so i'm not so if when you take a much
[18:26] i wouldn't say that bitcoin's dominance will stay there forever nothing stays forever damn really going against the grain on that bitcoin first obviously if bitcoin went to zero the
[18:39] fall with it but you're going eventually bitcoin will be phased out i think just a different time horizon i think with if within the next six months true like everything else will be hit hurt really really bad
[18:54] 10-year horizon was is like if you look at the internet right so we got like internet 1.0 2.0 things replacing new technologies do generations so i don't think uh cryptocurrency will
[19:07] be gone i think there will be they could they it's totally conceivable that other things will come along and uh have stronger adoption and overtake but within the i think within the next even year or or two
[19:20] if bitcoin goes down uh goes to zero then i think that's that industry and i think what so i think what they said is right uh but um people take that to the extreme like say look uh
[19:33] terms um so but i don't but you got to take a much bigger scope to look at things and then things usually sit somewhere with a interesting and i want to get to those super chats but just one more follow-up
[19:48] on that question to me and like as our audience knows um the people that subscribe to us they're learning along with us but think bitcoin from the use case of a store of
[20:01] resistant and the most decentralized right now for that use case bitcoin there's no other cryptocurrencies becoming more decentralized or
[20:14] from that use case bitcoin seems to be the dominant winner in terms of the other use cases like smart contracts and where you can build on them that's where alt coins uh will shine
[20:28] uh yeah so i i agree with that 100 actually so i forgot to mention that i think one of the strongest uh uh attractive points for bitcoin is that's the key okay whereas almost every other
[20:42] associated we can still identify the funder which pushing progress forward and making decisions but which is bad for decentralization and uh for censorship resistance and
[20:56] with italic i think the ethereum price will drop a little bit so so in that in that aspect i fully agree that bitcoin is the most decentralized um probably the second to that is probably actually dodge coin right uh
[21:12] so the fund is no longer involved in the projects and et cetera kind of backing behind as bitcoin does obviously so i think on uh we fully agree so i'm not arguing against those points
[21:28] and i think for the foreseeable future we will see bitcoin being very dominant the short to medium term but if you look at the super long term conceptually no i think um and uh over time uh
[21:44] would become really really decentralized right now and hopefully one day they'll get there i'm like look i'm just saying that uh it's not
[21:58] inconceivable for those things to happen there's a chance it may happen still pushing bitcoin really strongly um but i'm not a bitcoin maximalist um to be very transparent uh i'm like i think bitcoin is great other than
[22:11] bnb the only thing i hold is bitcoin so uh i haven't sold i haven't bought more uh but uh i i believe in strongly um so strong disagreement there to be honest unless people argue about the semantics
[22:27] of the wording but i take a much longer view so uh uh i would have said that thinking like nobody obviously knows what's gonna future but i would have said that bitcoin is like the safest
[22:40] coin to invest in with the best chance of being here in the future as opposed to anything else i think of all the so i think of most probably the safest in terms of uh longevity at this point uh he has the
[22:54] least risk in terms of uh getting shut down or uh getting destroyed because the founders suddenly decided to quit or something time so i think bitcoin has the least of
[23:06] highest return coin i'm not sure because some of the because they have higher risks they all may also have higher returns in the oh well now we're talking about something else of course yeah so
[23:19] uh so it so it depends right so uh everybody have a different risk uh tolerance profile and uh but like look for me i'm a very strong supporter of bitcoin i'm not against it but i i i like bitcoin for all of those things
[23:31] you mentioned and um so i do think that uh and i today for the next few few years for this industry to succeed we do need to succeed and big but i'm not i'm not worried about that in
[23:44] that anymore i know bitcoin will succeed there's no way to shut it down um there's no like conceivably conceivable way to shut it down in a um so i'm not too worried about that anymore so that's why
[23:56] strong supporter of bitcoin that's for sure i love it and we're questions in a second which are just all over the place but i do want one cz the biggest bitcoin supporter out there
[24:11] wanna put you in the hot seat right now question for you cz we need to get is there any reason segwit hasn't been added and when can we expect segwit on segwit there's no question about the direction there uh it's just a priority
[24:26] um so we've done a lot of customizations so the so if you install the default bitcoin wallet on your the one that you bitcoin.org um those wallets don't handle
[24:39] like a thousand ten thousand hundred thousand when you have a hundred wallets and they actually have uh frequent transactions on a like crazy uh it's unusable so we actually had to do a
[24:53] lot of custom work to cut to accommodate bitcoin uh we wallet ourselves uh given that the the work to add something new or to change it is actually quite a lot uh we also have
[25:07] how we generate how we generate addresses for new all of those are very secure um and that a lot of our hot wallet has uh security measures around that just introducing a new address format
[25:23] cigarette we want to but it's a lot of work we have to generate a new format we risk checks around that so it's really just amount of work and priority exactly when but we'll get there sooner or later but
[25:38] information i know there's still quite a bit of work it's not like we're close close to done so um being very transparent it's gonna take a little bit it's been actively discussed well it's been thoroughly discussed already we
[25:53] it's just the scope of work is quite large and uh we just we will get we'll get it done eventually or uh user experience for an exchange obviously people want to be able to transfer to low fees surely that's one
[26:06] experiments if we're all coming at it from a sense of bitcoin to be on board with bitcoin can we get a can we get a commitment or the end of 2021 can we get some someday
[26:19] so yeah i apologize i can't commit like that um i don't even know if i commit i can't do that um yeah so it's not something i control fully so yeah uh just know from the bitcoin
[26:34] that's paramount you could get all the bitcoiners in the whole entire world saying everybody go to binance exchange as soon as segwit is implemented just i think most of them are already here so all right all right
[26:47] some super chats we do have a lot of good ones want because we do have a lot of them um any thoughts on the next finance ieo do you know uh i know obviously i can't i cannot disclose the project names
[27:03] that's coming very very soon um that's actually a few very strong i actually don't know which one's gonna be first but that's coming very very soon uh i would say that's coming in weeks
[27:16] that's coming in weeks okay um bitcoin price or market cap at the top of the next bull run ooh um i have no idea but i think there's no limit i mean
[27:28] again it depends on time horizon i would say look it's 10x 100 x 1000x all possible but it's gonna the higher x is gonna take longer yeah the higher x is gonna take longer yeah uh what inspires you at the moment
[27:41] um inspires me at the moment i think i'm already quite lucky in the sense i'm working on something that i'm truly honored to do and inspired to do so i yeah so i'm i'm do i'm already have the best job in the world so
[27:55] inspire me um a lot of other people a lot of other things but increasing the freedom for is already the best chance i can ask for in this life
[28:08] pretty happy to doing that i love it any um chance that the coin electro neum will get listed on binance i can't answer that so uh yeah
[28:22] no comment on that one do you what are your thoughts on ethereum 2.0 and what do you think about staking as this new popular trend as this new popular trend sure i think even 2.0 is one of those uh
[28:35] look if even 1.1.0 is out upgrading is extremely difficult it's a lot of work um so i think it's taking longer than anticipated or but i think that's quite normal to be honest so i'm really
[28:48] rooting for them to roll it out and i think that will when it rolls out you will be a big uh hopefully will be a big game changer for the industry but i also know that the amount of work involved is
[29:01] tremendously uh is tremendous this is a both in terms of amount and so i'm rooting for them uh hopefully they get it out sooner soon yeah i get a sense that you're a bigger you're rooting for uh
[29:14] uh ethereum more than you're rooting for bitcoin are you more of a east guy youth guy uh i'm also i'm also looking for uh bitcoin but development community is pretty is very decentralized but decentralization also
[29:27] bit slower there's no conservative effort into one area there's no bitcoin 2.0 coming out et cetera but that's good for money argument yeah so that's good for money but at the
[29:41] maybe less good for innovation in terms of speed of innovation one questions is because the speed is will be a little not inconceivable something would overtake it
[29:54] i'm not that a strong per so i'm i'm i'm i'm not promoting ethereum over bitcoin limited coins i can talk about to be honest i can't talk about too many coins i i don't want to talk about other coins because it will seem to be more i get
[30:07] i talk about i talk about bitcoin with you all day but um austin through most of them i'm still writing them down but we can question for zz cz this is the time to ask we might get
[30:21] to him but big question it seems like the hype excited for is defy specifically defy on ethereum uh what excites you the most about d5 so i think d5 is
[30:35] is very cool uh in terms of um the innovation aspects of it now i think it started with like landing uh et cetera and now it's got into like all of this really interesting stuff and who would have thought that
[30:48] uh stable coins have a trading market that you can do you're farming on i mean stable right like so but you know you never know so i think this is this goes to show that um
[31:00] there's a lot of innovation in this space and which is really good so i um again i'm i'm a very strong proponent of d5 staking etc i think all will increase adoption of crypto at the same time i want to i do want to tell
[31:15] all the viewers or listeners these are all of these are new stuff so this kind of new technologies or new sectors um again a large overwhelmingly large proportion of the projects will fail in
[31:30] at the end of the day a few years from now maybe only a few handful of projects will survive and but those handfuls that survive will be what we do really well but the majority of the projects will fail so this
[31:42] is a very high risk area so for investors um please do understand that risk when you invest and don't come manage your risk or coordinate don't invest what you can't lose and um when bad things happen you just gotta
[31:54] deal with it uh understand understanding those risks but uh from my very very much afraid for them so um i think this is uh whether they will be long how much long lasting impact you will have is
[32:07] yet to be seen i think there will be some impact um i think even like we have we went through the ico craze in 2017 but i still believe even though cool but i use are still pretty hot i use a much more
[32:20] so now we're kind of finding the balance there um but i think blockchain fundraising is a killer app that was kind of uh sort of uh formalized through the ico craze so i think d5 will stay it does
[32:33] successful so but i think that's the industry we improve so yeah i'm very much for it do you think that the the d5 projects that might have the best
[32:47] chance of standing the test of time need to be more decentralized or what's your take on not all of d5 is as it's all a spectrum of decentralization so this is my take so uh i think a lot
[32:59] of people may disagree um just being decentralized does not just this year just being decentralized doesn't doesn't guarantee success that fail and this we we also know there's a lot of
[33:11] there's also a lot of centralized projects that succeed so i think it's not just one factor that that determines the project will fail or um if everything else being the same decentralized a decentralized project
[33:24] today probably will have an age but the decentralized projects also have a lot of disadvantages in the sense that they're less flexible farming or some of the decentralized exchanges once they're out they're out
[33:38] there's not a there's not a centralized entity that can make decisions around it look we can give ten percent a negative rebate we can give ten percent rebates to users uh we can change that uh we can we can
[33:52] we can we can adjust really really quickly and whereas the decentralized driven by the protocol uh you can't anticipate a lot of the market shifts and you just gotta uh you gotta be lucky enough that that protocol design
[34:06] has to last many years and it has to be competitive so bitcoin's done that it a number of the top projects done that but if you imagine a decentralized uber centralized uber when they're starting they can do all kind of marketing
[34:21] different regions they can do different things you probably don't have all of those things back into the protocol so i'm not i don't think people should have the
[34:34] automatically better it's going to kick all the centralized projects out um that's not quite the case i think so it still depends on how the project is designed how the how strong the funders are pushing it etc
[34:47] it still depends on a lot of factors but i think if everything being equal then the decentralized thing the decentralized version will be good we'll be we'll have an edge sure i think
[35:00] it's more decentralized then it has the best chance of scaling especially in the western world like the us who will gladly shut down any centralized type of yeah it depends it depends on it depends on the platform right so for example if
[35:13] it's uh for example social media uh is being decentralized or not but right now the centralized inertia and network effect so a decentralized platform i'm really
[35:26] really hard time coming up so it's not that like when you deal with money yes uh uh censorship is another thing where being censorship resistant is good in a lot of ways uh but also at the same time
[35:42] the map the mass consumers may there's a lot of people who actually prefer because they feel safer um so there are different there are different um segments in the in the market um the strong sort of uh
[35:54] crypto ogs they want decentralization etc but i i also think that the majority of people in the world today cannot hold on they don't know how to do encrypted backups they don't know they don't know
[36:07] how to secure the computers they don't they can't tell what efficient site software onto their computers which have viruses so um so again uh i i wouldn't take the sort of uh absolute view and i actually
[36:20] viewed that today the majority of people are actually novice users who are not given that given that we probably only have point less than 0.1 overall so um they're different that there are
[36:33] different so i'm not i am advocating for more decentralization but today i actually think that uh there's probably happening at the intersection of decentralization and centralized
[36:47] so there's probably uh more more more more business opportunities at the nexus cryptocurrencies and fiat uh you know in that intersection than the pure crypto today if you run a pure crypto project your project is most likely going to be
[37:01] if you if you run a business in those intersections talk on with each uh each thing that's easy he's gifting us with this knowledge but we need to move on we do have some super chats yeah um i
[37:16] before the super chats i know it's touching on something you just said um most people are very vocal about not your keys not your coins hold your own private keys on cold storage but i think you've been very
[37:29] vocal about no hold it on finance if you can't handle um you're holding thoughts so so i think there's a there's a met um if you can hold your own private keys by all means do it
[37:43] benefits for binance to hold your crypto for you secure our platform and the the more funds we hold the more money we have to spend to secure that those funds and uh if you're not
[37:56] you can hold your coins securely don't hold it on but at the same time again i don't want balanced view every day i have people coming to me say
[38:08] see i lost my i lost my coin in my own wallet can you help me they either got a virus on the computer or they lost the hard work wallet like or they forgot the password and then they didn't have the
[38:20] so i get a lot of people coming to i get more people coming to me losing money on are losing crypto on their own than through finance so uh and there's very little things we can do um so
[38:32] people don't get that exposure most people think oh when exchanges get hacked there's big news because the amount is bigger and more people involved etc when an individual loses ten thousand dollars
[38:45] quite often so and again i think i still have the view that today there's a there's much more people who there are people who can so a lot of the guys who can hold their
[38:59] everybody is the same as them and they give people advice hold your own keys i actually think that in most cases that's actually bad advice um just from a pure security of the people of the guy listening
[39:11] security perspective so i think people should stop should about what's best for themselves is always best for some other people um they have to look at what the other people's situation really advise what's
[39:25] best for other people um to be honest i also uh i don't i don't really want to strongly tell everyone to throw it's the best crypto funds on binance.com if you can hold it yourself securely do
[39:37] do by all means do it and i mean if you hold it on binance.com it don't trade there's not there's not a lot of benefit for binance.com so um we don't make have we don't charge you for holding you for keeping your coin secure
[39:51] uh in fact we have to give you interest taking payments and all this all this other stuff which doesn't benefit us directly so i'm uh holding them holding it themselves but um that advice though is not
[40:05] universal advice that applies to most people in fact it doesn't apply to the large majority of people today it's bad advice interesting i happen to agree with you i just want to say we have over
[40:17] 2 000 people watching let's see if we can get those likes to 1000 1000 likes and i just want to say god i think we have five minutes six minutes left max best okay let's uh do a couple super chats
[40:33] and we'll get to we'll finish with the lightning round i love it okay five minutes so be as brief as you like uh can you give us any info on when binance u.s will be coming to particular states like florida georgia louisiana
[40:47] um again um that's not up to me okay okay we'll move on because this stuff uh any advice for upcoming projects so general let's just skip that one uh hey you
[41:02] recently uh work harder you recently listed digibyte on your exchange um for a while you were asking that uh did you bite pay a they told you hey we are a truly decentralized project we don't
[41:15] them what changed so again there's a lot of misinformation because the to be honest the digital the digit by founder is was a hindrance if we just didn't say anything or he if he wasn't there would probably have
[41:28] but every time like he comes out and say something negative and sometimes even he takes a very like kind of a twisted meaning of things and uh there were multiple times we were about to list it and he comes out and
[41:41] and he actually handles the problem the progress so i think but at the same time digivite is really interesting having a sort of a negative uh actually makes the coin more decentralized in your way
[41:54] so we said at the end so um uh after things quiet down a bit for for for a scene for we thought a reasonable period of time he said well let's just there was like uh there was
[42:07] misunderstandings and uh i was a mishandling of well just it's around and this it just pisses every and the founder likes to attack every exchange so it is what it is interesting very
[42:20] lightning round going to ask you a series of true or false questions and you'll give your just say true or false if you want to elaborate you're more than welcome to
[42:32] and we're going to do this and then we are going to cut to goodbyes okay ready cece sure it's difficult from like i usually don't have a minor view but let's try it oh man that's gonna make this fun
[42:46] cryptocurrency is the future true or false uh that's true decentralized finance will lead the upcoming bull run true or false i think it's true in your opinion
[42:58] false true i don't think we're gonna see that true i don't think we're gonna see that again no cryptocurrency will ever be as decentralized or censorship resistant as bitcoin true or false
[43:11] three in the short term true true in the next few years for sure damn bitcoin maximalists are short-sighted true or false but i think you've already pissed them off by not implementing segwits easy
[43:27] true or false uh i would say partially true partially true okay that's fine it's only opinions bitcoin will eventually be overtaken by another coin you said yes we will see we will see a lot of other
[43:40] quality crypto projects succeed but most coins given enough time will eventually trend towards zero true or false true that's definitely true one bitcoin will eventually be equal to
[43:52] one million us dollars true or false cz you're the man let's say our goodbyes austin man uh thanks for coming on cz i hope i come back again sure absolutely thank you thank you so much
[44:06] of the biggest in the game and with that we are going to end this live stream thank you guys so much see you soon all right see you guys see you soon all right see you guys later