transription ep.93 completed

8/12/2019 Transription Ep.93 completed

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Adam B. Le ine8 I'm t*e editor and c*ie o t*e LTB Net+or1 and one o t*e *ost o t*eLet's Ta 1 Bitcoin7 s*o+. I don't %s%a & do i e8 ,eca%se I i1e to edit m&se . So8 toda&+i ,e 1inda %n. 5*at +e're )oin) to ta 1 a,o%t toda&8 ,road & spea1in)8 is t*e LTBcoin

pro ect. 5*ic* at its core is a comm%nit& c%rrenc& or peop e +*o +ant to create content.Speci ica & it's or creatin) content on t*e LTB Net+or1. T*e 1inda t*irt& seconde e ator ersion o +*at +e're doin) is &o% can t*in1 a,o%t t*is i1e a cr&ptoc%rrenc& %st

i1e Bitcoin. E/cept instead o minin) it +it* &o%r comp%ter8 &o% mine it +it* &o%rcreati e e ort or ,& cons%min) t*e creati e e orts o ot*er peop e. T*e s*ort ersion is&o% mine it +it* &o%r creati e e ort. 5*et*er t*at's creatin) a s*o+ or Let's Ta 1Bitcoin Net+or18 or r%nnin) a , o) or t*e Let's Ta 1 Bitcoin Net+or1. Beca%se t*at's1inda +*at +e're mo in) to+ards. Beca%se ri)*t no+ Letsta 1,itcoin.com is a +e,sitet*at is %st a,o%t Let's Ta 1 Bitcoin. B%t8 +*at t*e LTB Net+or1 is )oin) to ,e isessentia & a p at orm or podcast8 ideo s*o+s8 and a so c%rated , o)s +*ere one or more

peop e +i r%n t*e , o) and essentia & *e p se ect +ritin). -%st i1e +e se ect +ritin)

rom peop e +*o +e i1e8 and +ritin) t*at +e i1e to )o into t*e LTB , o). Ot*er peop edo t*at too. T*e idea *ere is t*at t*e LTBcoin ser e a most i1e a (o)ecoin p%rpose. O ,ein) a er& p enti % 8 a er& %n to1en t*at &o% can do st% +it* ,%t t*at doesn't *a esome o t*e drama t*at mone& does. Beca%se mone&8 &o% *a e to ee responsi, e a,o%t*o+ &o% spend it. B%t most o t*e peop e +*o +i ,e %sin) LTBcoin at irst8 are pro,a, &)oin) to ,e recei in) it or ree rom one o t*e +a&s t*at +e +i ,e doin) t*is. So o ertime it +i ,e +ort* somet*in)8 ,eca%se its a de ationar& c%rrenc& and its imited ins%pp &. B%t I t*in1 +e +i )o t*ro%)* a period o a &ear or t+o8 +*ere t*ere's a ot o)enerosit& in t*e comm%nit&. It +i ,e er& eas& to ,rin) someone into o%r comm%nit&

,& )i in) someone some LTBcoin. Beca%se t*en t*e& +i *a e sta1e in t*e net+or1. I

t*e net+or1 s%cceeds t*e& +i ,ene it too8 and rea & t*at's +*at I'm tr&in) to do *ere.I'm tr&in) to create incenti e str%ct%res so t*at e er&,od& )ains. T*e a%dience )ains and*as a inancia interest8 t*e peop e +*o are creatin) content *a e a inancia interest anddon't *a e to do t*is st% spec% ati e &. Li1e prett& m%c* e er&,od& *as to do on t*econtent side ore er. Instead it 1inda ties o%r ates to)et*er and sa&s8 +e're more a %a, eas a *o e t*an as t*e s%m o o%r parts. So8 t*at's +*ere I'm )oin) to s*%t %p no+. I +ant tointrod%ce $att8 +*o *as ,een actin) as a comm%nit& iaison. I *a e a tendenc& todominate con ersations8 so *e's act%a & )oin) to ead part o t*is disc%ssion. A so8 +e*a e a ,%nc* o peop e on t*e ca *ere. T*an1s or e er&,od& poppin) in. I &o%'d i1e tointrod%ce &o%rse es a,so %te & ee +e come. 5e can start +it* t*e )%& +it* an A or *isname8 Acti e &.

A(: #e o. Can &o% *ear me

ABL:


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ar as incenti i0in) peop e to moderate content. $a&,e prod%ce some content or *ere as+e . I'm +it* ess o t*e cr&ptoc%rrenc&. I am de iant & interested in ,itcoin and a ot odi erent a tcoins. I'm *ere ess o t*e ne+s and , o) t*in)8 more o t*e entertainment8

iction8 +e, comic t*at 1ind o t*in). So t*at's 1inda +*ere I'm )oin) ? +*ere I'm comin)rom.

$: T*an1 &o%.

-: $& name is -os*%a8 in t*e coin since @ . It *as c*an)ed m& i e8 and ,%i din) a prett&so%)*t o%t pro ect ca ed a% t#o o+. It's sti in de e opment p*ase8 so not m%c* to ,eta 1in) a,o%t. B%t it's rea & e/citin)7 ! a%)*ter"

A: I'm %e,en8 I )o ,& %e,en A e/ander on t*e +e,. I do +ritin) and editin) or T*eBitcoin $a)a0ine. I inter ie+ed Adam a,o%t t*is and *is ot*er pro ect t*e 2o/coin. Ide inite & i1e t*e idea o ta1in) , o))in) and content ma1in) to t*e ne/t e e . P%s*in) it

o onto a (.A.C. and %st seein) +*at *appens. I t*in1 its a ,ea%ti % e/periment. T*emore content ma1ers +e can )et8 co erin) a t*e di erent stories t*at are comin) o%t ,etter8 I t*in1.

$: T*an1s %e,en. $& names $att8 I' e ,een in o ed +it* LTBcoin or +ee1s no++it* Adam. I'm rea e/cited a,o%t t*e possi,i ities o )eneratin) coins o%tside ocomp%tationa minin) +i ,ene it not on & *%manit& ,%t I t*in1 t*e comm%nit& in)enera .


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-B: #e&8 t*is is -o*n Beret. I'm in Nas* i e Tennessee. Li and I +on t*e Editors C*oicea+ard or t*e Let's Ta 1 Bitcoin7 podcast competition a mont* or so a)o. 5e' e ,eendoin) a podcast o%t o east Nas* i e . Li and I *a e ,een *a in) t*e time o o%r i es+it* it. I *a e no idea +*ere Li is ri)*t no+. #e *as a da%)*ter at *ome so *e's pro,a, &

eedin) C*eerios or somet*in). An&+a&8 I'm %st t*ri ed to ,e *ere aro%nd a o &o%s%per inte i)ent peop e8 and to ,e +or1in) +it* t*e Let's Ta 1 Bitcoin7 Net+or1. I *ope+e can contin%e to add some )ood content. 5*at's )oin) on on t*e )ro%nd +it* o%r ocacompanies t*at are acceptin) Bitcoin. T*at's t*e direction +e're ta1in) ri)*t no+.Inter ie+ as man& sma ,%siness and peop e +*o are interested in acceptin) Bitcoin and)ettin) into t*e Bitcoin comm%nit&. So +e're tr&in) to ed%cate and ed%cate o%rse es att*e same time.

ABL: I'm rea & *app& to *a e &o% on t*is ca -o*n8 ,eca%se &o%r t*e on & representati eo t*e on & podcast t*at is act%a & c%rrent & on t*e net+or1 ri)*t no+. 5*en +e p%tto)et*er t*e LTB net+or1 proposa 8 t*e concept o LTBcoin +as somet*in) I 1ne+ +e+ere )oin) to do. B%t *o+ +ere +ere )oin) to do it8 +as rea & not c ear. So +e +ent intot*at +it* a dea t*at +as rea & temporar&8 and +it* a t*e oc%s s*i ted to LTB +e rea &*a en't rea & done m%c* +it* it. #a en't *ad m%c* s%ccess. I'm rea & an/io%s to )et intot*is8 and to *a e t*e LTBcoin mode 1ic1 in. I ee i1e +e ,ro%)*t peop e on8 and *a en'trea & de i ered or t*em &et. T*at is m& )oa *ere8 to tr& and so e t*at pro, em. 2reat8 Irea & appreciate e er&,od& ,ein) *ere. I 1no+ +e *a e peop e tr&in) to )et into t*e ca+*o can't )et in. I'm ) ad +e set t*is %p as a *an) o%t on air. E en t*o%)* it +as moredi ic% t. T*ere is a ot o interest in t*e concept8 e en i &o%r not necessari & interested int*e LTBcoin t*in). Scott as &o% said8 t*e (.A.C. t*in). T*at's %st *appenin). T*is is one

o ei)*t di erent pro ects I'm c%rrent & in o ed +it* t*at are ,%i din) (.A.C.s o%t inario%s areas. T*e concept o ,ein) a, e to ta1e somet*in) i1e concept creation8 andcreate a r% e set and rame+or1 in +*ic* &o% as an indi id%a p %) &o%rse into a o, &o%+ant to do at t*at partic% ar moment. T*en &o% can )et paid or it8 ,eca%se some,od&needed to do t*at o,. Since &o% did it at t*e time it +as needed8 t*en t*at's a a %a, et*in). T*at's rea & +*at I ie+ a o t*ese tec*no o)ies as8 t*e&'re +a&s to D,ootstrapDne+ comm%nities. Beca%se +*en t*ere aren't man& peop e participatin)8 its m%c* more

pro ita, e or t*e e+ +*o are. 5it* sit%ations i1e t*at +*ere t*ere's act%a a %e8 don'trea & stand or too on). T*e mar1et sa&s8 DO*8 I can ma1e some mone& o er t*ere doin)t*at t*in).D T*en t*e& )o o er t*ere and t*e& do it8 )i en eno%)* time. T*at rea & is t*e

core o o%r e/periment8 is tr&in) to tr%st t*e ree mar1et and not ,e a raid to et o%rse esessentia & ,e a %ed ,& t*e mar1et. As opposed to settin) %p t*in)s t*at +e t*in1 arecorrect8 ,%t mi)*t not ,e +*en act%a & p%t to t*e test. T*at's t*e di ic% t part. I'd i1e toopen it %p to %estions. I &o%' e )ot somet*in)8 ets start.

S : I act%a & didn't rea i0e t*is +as a,o%t an a tcoin. I t*o%)*t t*is +as )oin) to ,e a,o%tBitcoin and LTBcoin8 a Let's Ta 1 Bitcoin *an) o%t. Not t*at it's not interestin) 8 ,%t I %st


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*eard a,o%t Let's Ta 1 Bitcoin since t*is t*in) started *ere. I didn't 1no+ it e/isted.

ABL: It doesn't e/ist &et. It's )oin) to e/ist in a,o%t a mont*. i)*t no+ +e're )oin) toa%nc* t*e test ersion o it ne/t +ee1. T*is is a point +e can c ari &8 LTBcoin isn't a

proper a tcoin in t*e sense t*at it *as its o+n , oc1c*ain and *as its o+n miners and

t*in)s i1e t*at. It's a %ser created asset8 one o t*e irst ones act%a &8 t*at's )oin) to ,ecreated on top o ,itcoin %sin) a protoco ca ed Co%nterpart&. One o t*e ot*er pro)ramsI'm +or1in) on8 2o/coin as %e,en mentioned8 is ,asica & a simi ar t*in). It's a %sercreated asset +*ere t*ere's no minin).


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o o%nders or t*e pro, em o mone&. T*e& a so don't *a e t*e ad anta)es o eit*er ot*ose t*in)s8 ,%t t*e& don't *a e t*e pro, em and I i1e t*in)s t*at are simp e.

-B: Adam I *a e a %estion.

ABL:


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)ettin) part o t*at distri,%tion. T*en create t*e ne+ coins and *a e it d%mp into t*at8 and pa& to a t*ose addresses immediate &8 and t*at's t*e +ee1 & distri,%tion.

-B: So%nds )reat man.

ABL: A so8 I *a en't reac*ed o%t to *is &et. I %st +atc*ed a ta 1 +it* &an Sin)er. 5*o'st*e ormer o%nder o Trade #i ,esides 2era d Kenna8 )i e a ta 1 at t*e Te/as Bitcoincon erence. A,o%t essentia & m% ti )i) *ierarc*ica +a ets. T*e ot*er t*in) t*e& areo erin) +it* t*at is a tr%sted orac e ser ice. 5e can sa&8 DO18 rat*er t*an *a e me8 or t*eeditor and c*ie or +*oe er is doin) t*at at t*e time8 contro t*e iss%ance o LTBcoin.DInstead8 it's )oin) accordin) to t*is sc*ed% e8 and +eJre partnered +it* Cr&ptocorp. To

pro ide t*e tr%sted orac e co%nterpart&8 t*at ta1es an& time +e +ant to do somet*in) +it*t*at address8 and as1s D(oes t*is comp ies +it* +*at t*e r% es are or *o+ t*is addresss*o% d ,e *and ed D I somet*in) *appens t*at doesn't comp &8 t*e& sa& DNo8 &o% can't dot*at D. B%t ,eca%se it's a t*ree part m% ti si) address8 essentia & t*ere can ,e a sa et&.

T*ere can ,e a t*ird part t*at someone *as or t*at a +*o e ,%nc* o peop e *a e. So iCr&ptocorp r%ns o +it* o%r 1e&s t*e& can't spend o%r coins8 t*e& can't do an&t*in)+it*o%t %s. B%t8 t*e& can stop %s rom doin) somet*in)8 i it doesn't comp & +it* o%r o+ninterna r% es. T*at's +*at I +ant to do8 I'm tr&in) to create t*ese s&stems +*ere +e cano oad as m%c* o t*e responsi,i it& rom me8 as possi, e. Beca%se as I' e said in aco%p e o t*ese t*reads. #a in) t*e a,i it& to create mone&8 especia & once +e s%cceed+it* t*is and it ,ecomes a %a, e8 is dan)ero%s. I don't *a e an& interest in t*at. ran1 &8it %rt*er m%dd&'s t*e pro ect +*en it doesn't need t*e mone&.

-B: Nice.

-: One o m& %estions I *a e is t*e initia a %in) or pricin) o t*ese coins. Is t*ere ane/c*an)e or somet*in) t*at's ,ein) set %p or t*ese metacoins And is t*at p%re &

,et+een ot*er cr&ptos or is t*at )oin) to a so ,e in %sin) +it* a iat e)ac& c%rrenc&mar1et

ABL: ;n i1e most coins8 +e are not )oin) to ,e se in) an& o t*ese. $ost o t*emetacoins t*at are comin) o%t are ,ein) do+n or %ndraisin) p%rposes ,asica &. I 1inda

ie+ t*is as a re erse %ndraiser t*o%)*. 5e are essentia & pa&in) peop e ,e ore it isa %a, e8 ers%s t*en doin) it t*e ot*er +a& aro%nd. at*er t*an not pa&in) t*em +it*

mone& t*at is a %a, e. I'm sorr&8 repeat &o%r %estion. I )ot ost.-: Somet*in) needs to *a e some sort o a %e in someone's *ead or someone to sa&8D#e&8 I'm )oin) to )i e &o% coin or coins or . o a coin or ma1in) a s*o+.

ABL: 5e're )oin) +it* t*e (o)e approac*. ItJs a com,ination o t*e (o)e approac*8+*ic* is to sa& t*ere are )oin) to ,e mi ion %nits8 I'm prett& s%re ri)*t no+ t*at t*etota is )oin) to ,e mi ion. (istri,%ted o er i e &ears. T*e idea ,ein) e en t*o%)* in


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practice it doesn'tJt matter +*et*er or not &o%r ta 1in) a,o%t somet*in) t*at *as .mi ion or mi ion8 in rea it& peop e are more )enero%s +*en t*e& *a e ar)e n%merica

%antities o t*in)s. I t*in1 t*e (o)ecoin *as done a )ood o, o s*o+in) t*at t*at's rea &a t*in).

-: B%t8 e en (o)e *ad an e/c*an)e t*at +as c ose to it8 so peop e co% d sorta )rasp it.

ABL: i)*t8 t*at's t*e ot*er part o t*is %estion8 and t*e ans+er to &o%r %estion is &es.5e are ta 1in) +it* Cr&pts&8 and +e are ta 1ed +it* Bi) ern. I spo1e +it* *im a,o%tt*at. #e +ants to ta 1 +it* t*e Co%nterpart& de s a,o%t *o+ *ard it +i ,e to imp ement.B%t t*e& are oo1in) or coins t*at +i di erentiatin). T*e& +ant to ist coins i1e t*is8rat*er t*an istin) coins t*at are %st some ot*er random c one o somet*in)8 t*at *as acomm%nit& o a co%p e *%ndred peop e or somet*in). T*e& ot*er t*in) a,o%t t*is8 is

,eca%se it's ,ein) ,%i t as a a&er on top o Co%nterpart&8 +e +i act%a & *a e adecentra i0ed e/c*an)e rom min%te . 5e s*o% d ,e a, e to start testin) t*at in t*e ne/t

+ee1. So decentra i0ed e/c*an)e and practice means &o% can p%t %p an o er +it* Bitcoinand t*en )et ,ac1 LTB as somet*in) direct &. 5it*o%t *a in) to re)ister on an&t*in) or)o t*ro%)* an&t*in). It's a PHP e/c*an)e.

-: 5o+.

44444444444444444444444444444444444444444Ad ertisement4444444444444444444444444444444444

T*is is C*ris -osep*8 ,rin)in) &o% Ne+s Mone N/t. T*e irst tr%e second )enerationcr&ptoc%rrenc& or $arc* t*8 H . I &o% *a en't ta1en t*e ne+ +e,c ient or t*e N/tassets e/c*an)e o%t or a spin8 &o% don't 1no+ +*at &o%r missin). #ere's +*ere &o%s*o% d )o to c*ec1 it o%t8#TTP:??n/tra.or)?n/t4c ient . T*is ne+ c ient is r%nnin) on N/ttest net8 +*ere &o% can a so p a& +it* t*e decentra i0ed asset e/c*an)e. Post a re %est or some test N/t in t*e or%ms8 and some one +i send &o% some test coins &o% can p a&+it*.


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ta 1in) a,o%t or t*e ast co%p e o mont*s. T*at I irst proposed ,ac1 in A%)%st o ast&ear +*en I +as ta 1in) a,o%t m& cr&ptoc%rrenc& idea. Basica &8 +e are +or1in) on a

pro ect ca ed BitSp it. Nic18 +*o's de e opin) t*e ne+ LTB +e,site8 is a so +or1in) ont*at. 5e %st )ot a protot&pe +or1in) t*at ets &o% sa&8 D#ere's t*is address is or Adam. It*as t*at's )oin) to )o to it. T*is address is or $att8 it's *as t*at's )oin) to )o toit.D.


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pa&ment c&c e.

$: ea %ic18 one o t*e pressin) %estions t*e comm%nit& *as is8 *o+ are t*e percenta)es )oin) to ,e assi)ned I 1no+ +e' e 1inda ta 1ed a,o%t t*is8 and t*ere's sti1inda some )re& area ri)*t no+. $a&,e &o% can )o into some more detai .

ABL: T*ere isn't a ton o detai ri)*t no+. T*e most is )oin) to )o to content creationmore in t*e 4 ran)e. Some +*ere in t*e 3 4 ran)e +i )o to t*e a%dience.T*en some +*ere in t*e 4 ran)e is )oin) to +ind %p )oin) to t*e p at orm and is)oin) to pa& or core ro s. 5e *a e to *a e a C O and CTO8 st% i1e t*at. A)ain8 t*at+i ,e part o a +ee1 & distri,%tion t*at comes o%t. It's not i1e peop e are )oin) to )et

paid an incredi, e amo%nt o LTBcoin. It's )oin) to ,e part o t*is pe))ed process8 andt*en +*ate er's e t o er rom t*at is )oin) to )o to ,o%nties or impro in) t*e p at ormand t*in)s i1e t*at. So t*e )oa *ere is to tr& and 1eep t*e str%ct%re er& e icient. To tr&and ma1e s%re +e're pointin) t*e mass ma orit& o o%r reso%rces at o%r pro, ems +e

act%a & +ant to incenti i0e t*e so %tion to. 5*ic* in t*is case *o+ to e %ita, & createcontent and in est peop e in t*e s%ccess o t*at content mo in) or+ard. T*e reason +e'renot doin) somet*in) i1e LTBcoin +it* %st t*e Let's Ta 1 Bitcoin s*o+ is ,eca%se +*ati +e *a e a ,ad +ee1 5*at i +e *a e a ,ad mont* T*en t*e +*o e c%rrenc& is re ianton o%r contin%ed s%ccess +*ere as t*e more &o% can spread it o%t amon)st di erentt*in)8 &o% essentia & )et a se % i in) c&c e. 5*ere some,od&'s ,ad +ee1 is anot*er

persons )ood +ee18 so t*e +*o e t*in) e ens o%t.


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is not )oin) to ast or e en anot*er co%p e mont*s.

$L: %e,en as1s8 D #o+ does Adam ima)ine t*e irst a %e +i ,e created orLTBcoin D. 5*at +e're )oin) to start o +it*8 t*e irst t*in) &o%r )oin) to ,e a, e to %seLTBcoin or is +e're )oin) to *a e mont* & to start. T*en t*ere are )oin) to ,e more

re %ent a%ctions o sponsors*ip to1ens ,asica &. T*at +i represent 3 second or onemont*8 on one s*o+. 5e are )oin) to se a tota o o%r o t*ose or LTBcoin. T*e&' ,ea%ctioned o to essentia & t*e *i)*est ,idder. Basica & +e're )oin) to ta1e an& sort osponsors t*at +ant to participate in t*is8 e en i t*e& are %st indi id%a s. So on) as t*e&comp & +it* t*e net+or1 standards or sponsors. 5*ic* means it can't ,e i e)a st% 8can't ,e somet*in) +e t*in1 is a ,ad prod%ct .T*e standards o t*e sponsors t*at +e a o+on t*e LTB net+or1 are act%a & air & strict. B%t I t*in1 ,& openin) it %p to t*e peop e+*o are indi id%a s and ma1in) more a,o%t patrona)e t*an a,o%t sponsors*ip. T*at'srea & t*e direction I$ interested in )oin) +it* t*is. Especia & initia &8 I t*in1 t*atinitia & it's )oin) to ,e t*e ans and a so t*e s*o+s +it*in t*e space. I 1no+ t*at I *a ean intention +it* t*e LTBcoins t*at I earn rom Let's Ta 1 Bitcoin7 T*at I earn. I'mintendin) to ,%& some sponsors*ips on ot*er s*o+s.

$: Adam8 ma&,e &o% can %mp in on +*at t*e irst +ee1 o distri,%tion is )oin) to oo1i1e. I 1no+ +e' e disc%ssed t*at on t*e or%m.

ABL: +e're sti i)%rin) a t*is o%t. I &o%'d i1e to oin t*e con ersation a,o%t it8 I rea &do enco%ra)e &o% to o er on t*e LTB.com or%ms and )et in o ed. I'm i1e t*e c*iee an)e ist and t*e c*ie %ser o t*is t*in)8 ,%t % timate & t*is is )oin) to ,e a comm%nit&

pro ect i t*is is )oin) to ,e s%ccess % . Beca%se it's )ot to ,e ,i))er t*an me8 I can't ,e a

centra point o ai %re on t*is. So I'm not doin) t*e satos*i t*in) +*ic* means t*ate er&,od& *as to ,e rea & conscience t*at i &o% +ant to ,e in o ed t*ere aremeanin) % re+ards or &o% ,ein) in o ed in t*is. 5*en +e s%cceed it's )oin) to ,ee er&,od& and not me. T*at's t*e di erent t*in) a,o%t t*is compared to t*e pro ects I' e

,een +or1in) on to t*is point.

$: 5e are satos*i.

ABL:


12/35

on LTB. Instead it's )oin) to ,e ot's and ot's o di erent peop e r%nnin) c%rated , o)st*at are eac* ,randed +it* t*eir o+n ,randin). T*e& +i a *a e t*is a,i it& to dra+

rom t*is content poo and +*en t*e& are p%, is*ed t*e& t*en are entit ed to a recei e a portion o t*ese LTBcoins t*at t*en ets t*em )et more content to create t*is irt%o%sc&c e. T*e irst e e is t*ose peop e pic1in) stories. I t*e& see a stor& t*at's *ot8 c*ancesare prett& )ood t*e&'re )oin) to )ra, it. Especia & i t*at's t*e t&pe o t*in) t*at t*e& do. I1inda t*in1 t*at t*is pro, em is )oin) to so e itse . I don't rea & +ant to set *ard and

ast r% es. T*at's +*& Im sa&in) I +ant to )i e peop e t*e a,i it& to ma1e e er&t*in) ana%ction8 ,%t I don't +ant to re %ire t*at e er&,od& to +ait H *o%rs. I +ant to )i e t*emt*e option t*at t*is ,e an *o%r on) t*in) ,eca%se its a *ot r%s* or it can ,e a H *o%r on)t*in) ,eca%se I +ant to ma1e s%re I ma/imi0e m& e/pos%re. 5*at +e're creatin) is a seto r% es *ere and t*en peop e are )oin) to c*oose speci ics t*at +or1 or t*eir partic% arsit%ation.

$: Cameron 2ra&8 D 5*at *appens a ter i e &ears8 +i t*e net+or1ed *ope to ,e ,ootstrapped +*en t*e mar1et sat%rates D

ABL:


13/35

t+o mont*s. (o &o% t*in1 it's ,etter i +e ,ac1 pa& e er&,od& or t*e ast 9 mont*s+*ere &o% )%&s +o% d ,e ,ac1 paid or a mont* +ort* o materia to +ee1s +ort* omateria Or do &o% t*in1 it's ,etter to start c ean.

-B: No de iant & ,ac1 pa&. !A a%)*" I don't rea & care. I t*in1 Li and I are prett& eas&

)oin) +*en it comes to t*at. Beca%se +e're tr%e ,e ie ers in LTB and Adam B. Le ine. Imean t*at sincere &. It's *ard to sa&. I t*in1 &o% co% d t*ro+ e er&,od& a itt e ,one ,%tnot )o a t*e +a& ,ac1. (o a itt e o t*at sa& *e& +e're ) ad &o%' e ,een +it* %s romt*e ,e)innin). Not rom t*e ,e)innin) o, io%s &8 ,%t rom t*e time t*at &o%' e ,eent*ere8 +e're )oin) to )i e &o% a itt e somet*in). B%t I t*in1 peop e +*o are interested indoin) t*is i1e Li and I are8 or Bitcoin and 2ra &. 5e're interested or a ariet& oreasons. T*is %st seems to %s i1e an e/tra per1 t*at's comin) a one. An e/tra opport%nit&

or %s8 so +e're %st *app& to ,e a on) or t*e ride to ,e *onest +it* &o%.

ABL: 5e t*at's )reat8 t*at's t*e primar& point o stress t*at I *a e on t*is pro ect is t*at I

ee i1e I set e/pectations. Beca%se +e +e're rea & s%ccess % in -an%ar&8 No em,er and(ecem,er +it* LTB 5*en t*e price +as +a& %p. E er&,od& +as spendin) ots o mone&

,eca%se t*e& a e t i1e t*e& +ere ric*. B%t as soon as +e ,ro%)*t on ne+ s*o+s and*a e anot*er in t*e +in). S%dden & e er&t*in) is )ettin) a itt e ,it ti)*ter. $& primar&concern is I %st +ant to ma1e s%re peop e aren't ee i1e +e mis ead t*em. Beca%se t*isis +*ere I t*in1 +e're )oin) to rea & ma1e t*e di erence in t*e medi%m term.

-: Co% d I %mp in and as1 a %estion 5*at's t*e di erence ,et+een t*is and a stoc1Ca in) e er&t*in) a coin can )et con %sin)8 t*ere's e/c*an)es ca ed T*isCoin and t*esecoins. Is t*is not rea & more o an IPO more o a p%, ic o erin)

ABL: No it's not rea &8 ,eca%se it's not e)a & ,indin). T*ere's no e)a o, i)ation *ere.5*at +e're doin)8 and a)ain +e're not se in) t*em +e're )i in) t*em a+a&. So t*is ismore a1in to %s sa&in)8 D rat*er t*an pa&in) o%r emp o&ees +it* do ars8 +e're )oin) to

pa& t*em in store credit.D T*e& can c*oose to 1eep t*at store credit8 and %se it +it* %s. Ort*e& can c*oose to se it to some,od& +*o a %es it in a +a& t*e& appreciate. It *as noneo t*e c*aracteristics o stoc18 aside rom t*e act ,esides t*e act t*at it is a to1en t*at +e

ind a %a, e. I mean8 &o% can't spend App e stoc1 +it* App e.

-: Sa& or instance a start%p mi)*t ,e cas* poor8 a start%p i1e o%rse es a% t*a o+8 +e

co% d t*en as +e're ,%i din) +e co% d sa&8 D#e&8 +e *a e t*ese premined or a ,%nc* ot*ese t*in)s.D Beca%se minin)'s not rea & t*e iss%e8 it's more a,o%t *ere's t*ese coins ort*e p%, ic ed)er and &o% )et or or or +*ate er it is. E en t*o%)* t*ere's no

a %e8 ,%t t*e more +e p%t in t*en +e ,%i d t*e a %e onto t*ese to1ens.

ABL: A ot o t*e pro ects I'm +or1in) on no+ are ,%i t aro%nd t*is concept. I comp ete &a)ree +it* &o%. T*e di erence %st is t*at in o%r partic% ar case it rea & doesn't oo1 i1estoc1. In &o%r case +*ere &o%r ta 1in) a,o%t a start%p. A)ain I *a e ot*er pro ects +*ere


14/35

I' e ,een in o ed in +*ere t*e& rea & are more i1e start%ps and its ,ein) %sed insteado e %it& as a e*ic e or sta1e. I t*in1 t*e& ma1e a ton o sense to ,e %sed in t*at conte/t.I t*in1 t*at t*e& are )oin) to rep ace stoc1 in a ot sit%ations i1e t*at. Especia & or start%ps8 %st ,eca%se rom a e)a stand point it oo1s i1e it's prett& simp e. (on't con ertt*em into do ars and its %st a to1en.

-: It +o% d )et aro%nd a +*o e ot o e)a m%m,o4 %m,o.

ABL: i)*t no+ it seems i1e t*e opport%nit& is t*ere i &o% +anted to start somet*in)i1e t*at.

$: I 1inda en ision t*is t*in) i1e a mac*ine8 &o%'re ,asica & addin) to1ens intodi erent parts o t*is mac*ine and it ,asica & ca%ses t*is en)ine to start t%rnin).#ope % & at t*e end o i e &ears +e i)%red o%t t*e +a&s and means o ,ein) a, e tocontin%o%s & distri,%te +it* in t*e s&stem t*at ,ene its e er&,od& and 1eeps t*is en)ine

spinnin) and )ro+in).444444444444444444444444444444444Ad ertisement444444444444444444444444444444444444

Cr&pto Kit is t*e +or ds irst C*rome ,ro+ser Bitcoin +a et. It's t*e easiest8 astestBitcoin +a et pa&ment s&stem. 5it* a simp e one c ic1 insta 8 it ta1es %st seconds to )et&o%r +a et set%p8 and ,eca%se Cr&pto Kit inds t*e address and pa&ment or &o%8 t*ere'sno more %ssin) aro%nd or ta, s+itc*in). Cr&pto Kit is more t*an %st a +a et. It comes+it* a pre oaded P2P encr&pted socia net+or18 ne+s eeds rom eddit and 2oo) e8 and%p to date c*arts rom e/c*an)es. ina &8 Cr&pto 1it director& a o+s &o% to ma1e t+oc ic1 pa&ments +it* an& o t*e Bitpa& merc*ants. Once &o% initia Cr&pto Kit &o% +ontneed an&t*in) e se. or more in ormation or to do+n oad Cr&pto Kit isit Cr&ptoKit.com

4444444444444444444444444444444Second ad ertisement44444444444444444444444444444444444444

T*e Bit 2i e o%ndation is a non4pro it c*arita, e )i in) or)ani0ation. Le era)in) t*e po+er o t*e Bitcoin comm%nit& to impro e p%, ic *ea t* and t*e en ironment+or d+ide. #e p %s demonstrate t*e si)ni icant impact o ,itcoin in addressin) t*esecritica iss%es on a ) o,a sca e. S%pport internationa )i in) in ,itcoin. P ease isit o%r+e,site at +++.,it)i e o%ndation.or) t*at's +++.,it)i e o%ndation.or)

4444444444444444444444444444End ad ertisement44444444444444444444444444444

$: Ne/t %estion.

ABL: It seems Acti e & (isen)a)ed8 D#o+ does someone ,ecome on o t*e , o))ers ont*e LTB net+or1 D T*is is a process t*at +e are sti i)%rin) o%t. T*e , o))in) t*in)came a,o%t ,eca%se I rea i0ed t*at an indi id%a artic e8 on a , o)8 is not rea & i1e as*o+. A , o) itse is act%a & %ite i1e a s*o+. It *as contin%it& o ,randin). Essentia &
http://var/www/apps/conversion/tmp/scratch_4/www.bitgivefoundation.orghttp://var/www/apps/conversion/tmp/scratch_4/www.bitgivefoundation.orghttp://var/www/apps/conversion/tmp/scratch_4/www.bitgivefoundation.orghttp://var/www/apps/conversion/tmp/scratch_4/www.bitgivefoundation.orghttp://var/www/apps/conversion/tmp/scratch_4/www.bitgivefoundation.org


15/35

+*at I do +it* Let's Ta 1 Bitcoin7 is I c%rate. I'm on ma&,e o t*e content8 ,%t Iintrod%ce a o it. I pro ide t*e t*read o contin%it& t*at )oes t*ro%)* it a . So I ie+ a

, o) as 1inda t*e same +a&. O%r ne+ p at orm is )oin) to s%pport t*e a,i it& to create asman& o t*ese s%,sidiar& , o)s as +e +ant8 t%rnin) t*em into a c%stom ,randed t*in). It's)oin) to ,e as simp e as p%ttin) to)et*er a s1in or t*at partic% ar c*aracter or t*at

partic% ar , o). T*en spinnin) it o%t. I don't 1no+8 +e mi)*t *a e a contest. I *a en'trea & )otten t*at ar &et o *o+ o pic1in) *o+ +e're )oin) to i)%re t*at o%t. $i)*t ,e+ort* ta 1in) a,o%t at anot*er point.

$: #o+ is t*is di erent rom cr&pto stoc1s Co% dn't &o% %st se s*ares

ABL:


16/35

o o+ it i I'm a read& )ettin) ost. Lets mo e onto a di erent t*in). 5e're i)%rin) o%t+*at content creators need to do8 t*e )oa is to ma1e it as eas& as possi, e. Once t*e ne++e,site is done8 I t*in1 +e're )oin) to *a e a test ersion %p ,& t*e end o t*e mont*.T*en it +i ,e m%c* more c ear8 and +e +i ,e a, e to start p a&in) aro%nd +it* t*e ne+

p at orm and seein) e/act & *o+ di ic% t t*is is )oin) to do t*is.

-B: I' e )ot a %estion Adam. Ot*er t*an earnin) LTBcoin or content8 ets sa& someone %st +ants to *a e t*eir poems or t*eir prose8 t*eir s*ort stories on t*e LTB net+or1 ,eca%se t*at's +*at t*e& en o& doin). Lets sa& t*ere is someone +*o's ta ented at t*at and

ie+ers and isteners rea & start to appreciate +*at t*e person's creatin). E/ce ent poetr&8 or #ai1% or +*at e er. Lets sa& t*at person is not8 ,& p%ttin) t*ose o%t t*ere8earnin) LTBcoin. Is t*ere incenti e t*at at some point a , o) +o% d pic1 t*em %p Or is it

air to sa& t*at some o t*eir incenti e is %st *a in) a p at orm to a o+ peop e in t*eBitcoin comm%nit& to ,e a, e to *ear or read t*eir poems and s*ort stories

ABL: I t*in1 t*at t*ere de inite & is an ad anta)e to *a in) a centra i0ed a%dience. T*is issomet*in) I i)%red o%t air & ear & on8 is t*at it's a +a&s ,etter to *a e a +e,site t*at *asQ %pdates a +ee1 rat*er t*an a +e,site t*at *as %pdate a +ee1. Peop e don't ma1e+e,sites t*at *a e %pdate a +ee1 a part o t*eir sc*ed% e. It's er& di ic% t to ,ecome a

part o peop es i es. T*at's 5*at +e' e done in a ot o +a&s +it* Let's Ta 1 Bitcoin7 It's+*at a ot o t*ese podcast do. T*e& inte)rate t*emse es and ,ecome %se % . So t*ere'st*at side o it.


17/35

+*ere peop e can post ideas t*at t*e& +ant to +rite a,o%t8 or create s*o+s a,o%t. T*ent*e ACPs co% d pic1 rom t*ere Adam

ABL: T*ere are a ot o e/pansions to t*is8 and I am tr&in) not to )o too ar do+n t*era,,it *o e. Last ni)*t one o t*e t*in)s +e ta 1ed a,o%t is8 I' e ,een rea & o,sessed +it*

eddit i1e inter aces. 5it* inter aces +*ere &o% *a e t*e a,i ities or comm%nities to dosortin) and c%ratin) t*emse es ,& %p otes and do+n otes. B%t t*e t*in) I don't i1ea,o%t eddit is t*at peop e %st do it. Beca%se t*ere is no a %e associated +it* it8 it

,ecomes more o a8 DI'm e/pressin) m& opinion.D as opposed to DI'm statin) somet*in)t*at is important to me.D. So peop e do it or reason t*at aren't necessar& )reat8 and &o%

ind a ot o content )ets do+n oted ,eca%se peop e don't e en ,ot*er to oo1 at it anddo+n ote st% . T*ere are a ariet& o reasons +*& %st a o+in) random %ser acco%nts to

ote on st% and *a e t*at impact sortin)8 isn't a +a&s )reat. B%t8 I t*in1 t*at +e can do+it* somet*in) i1e LTBcoin8 a)ain ,eca%se it's not +ort* er& m%c*8 and peop e are o1to spend somet*in)'s t*at not +ort* er& m%c*. It ,ecomes eas& or %s to ,ecome t*e irst

e e o moderation. To *a e peop e post eit*er ideas or t*e act%a piece o content ,e oreit )ets p%, is*ed some+*ere8 in t*at mar1et p ace. T*en peop e +*o are interested in t*econtent8 ,%t are not necessari & in t*e mar1et to p%, is* it on a , o) can sa&8D


18/35

$: I t*in1 &o% *a e to 1inda oo1 at LTBcoin as 1ind o an on )oin) con ersation t*at'sin de e opment. T*e same +a& I t*in1 t*at Bitcoin +as started. So8 I t*in1 t*at ta1in) in+*at t*e comm%nit& +ants rom LTBcoin is rea & )oin) to a o+ %s to e era)e as%ccess % prod%ct.

ABL:


19/35

prero)ati e. T*e ne+spaper t*in)8 t*e on & +a& i can see t*at ,ein) somet*in) t*at &o% pa& or in LTBcoin is i I or some,od& e se +ere i1e8 DT*is is a )ood stor& and *ere's arecordin) o me readin) it.D and it's edited. I co% d see st% i1e t*at. B%t i &o% %st +antto read st% o%t o t*e ne+spaper8 t*en ,& a means %st read it o%t o t*e ne+spaper.


20/35

!A La%)*"

ABL: I *ad a )ood con ersation +it* Andres a,o%t t*is. I s*o% d mention t*at so ar I am pioneerin) t*is pro ect8 t*is is a pro ect I am p%s*in). I' e ,rie ed Step*anie and Andresa,o%t it8 and +e' e *ad con ersations a,o%t it. T*e& are interested in it8 ,%t e er&,od&

*as a mi ion pro ects. I'm t*e )%& +*o is p%s*in) t*is or+ard8 and t*e& are e/citeda,o%t )ettin) some o t*e ,ac1 pa& once +e do t*e da& distri,%tion.

$: !La%)*s"


21/35


22/35

$: $a&,e +e can ta 1 a,o%t some o t*e a%dience mode s t*at +e're ta 1in) a,o%t ,ein)a, e to )enerate coins ,& istenin) or participatin) in content in di erent +a&s.

ABL: T*ese are a)ain8 sti %p or de,ate. T*ere's )oin) to ,e a percenta)e some +*ere int*e H 43 ran)e o t*ese to1ens8 t*at are )i en to t*e a%dience eac* +ee1. T*e mode is

t*is8 &o% pic1 an incenti i0ed action. Lets sa& its commentin) on t*e Let's Ta 1 Bitcoin7 , o)s. Peop e +*o comment on , o) post are trac1ed on a per *o%r or per da& ,asis8n%m,er o comments o))ed or somet*in) i1e t*at. Comments t*at aren't spam8 and don't)et mar1ed as s%c*8 co%nt or proo o commentin). 5*ic* t*en ta1es a percenta)e ot*at percenta)e t*at's )oin) to t*e a%dience. It mi)*t ,e o t*e a%dience a ocation

or t*e +ee1. It's distri,%ted to peop e +*o commented ,ased on *o+ man& commentst*e& made o er t*at time period. Beca%se &o% do t*is e er& *o%r or e er& da&8 i &o%comment on a da& +*ere e+ peop e *a e commented ,esides &o% t*en it can ,e

potentia & er& pro ita, e or &o%. Beca%se eac* instance is i1e oca i0ed minin). E/ceptinstead o t*ere ,ein) on & one +inner8 e er&,od&'s a +inner and its a proportiona . It's

i1e e er&,od&'s in a oca i0ed minin) poo a most. 5e a so ta 1ed a,o%t t*is or tippin).5*ere i1e i &o% send a tip to an& person on t*e LTB Net+or1 or an& content on t*e LTB

Net+or18 t*en it )ets o))ed as &o% sent a tip. Based on t*e a %e o t*at tip8 it'scompared a)ainst t*e a %e o a t*e tips t*at e er&,od& e se sent d%rin) t*at same *o%ror da& or +*ate er8 and &o% sp it t*e LTBcoins in t*at +a&. So tippin) can ,e a pro ita, eenterprise. (onatin) mone& to some,od& can )enerate pro it or &o% ,eca%se i &o% do itat a time +*en no,od& e se is doin) it &o% mi)*t act%a & )et ,ac1 more t*an &o% p%t in.T*ere's a ,%nc* o mode s i1e t*at t*at I +ant to do. T*e istenin) part is pro,a, & t*e*ardest one8 ,eca%se it's di ic% t to te i some one is act%a & istin) to it or i t*e& are

%st p a&in) it and +a 1ed a+a& rom t*eir p*one. 5e act%a & +ant peop e to isten.$att8 I 1no+ &o%' e ,een ta 1in) a,o%t Dproo o ed%cationD as a +a& to )o. 5o% d &o%+ant to ta 1 a,o%t t*at

$: I ,ro%)*t it %p on t*e or%m t*at +e co% d esta, is* a mode t*at t*at's eit*er Dproo o ed%cationD or Dproo o earnin)D t*at +o% d %i0 %sers consistent & +*i e t*e&'re

istenin) to content. $a&,e t*e %estion co% d as1 t*em or a m% tip & c*oice ans+er or as*ort e/p anation t*at is some *o+ eri ied ,& t*e comm%nit&. It co% d ,e se eradi erent options. 5*at I t*in1 +o% d ,e )reat a,o%t t*is is +e +o% d ,e enco%ra)in)%sers to earn more a,o%t Bitcoin. T*e& are earnin) a cr&ptoc%rrenc& t*at t*e& can

i %idate into Bitcoin i t*e& +ant or %se or di erent p%rposes o%tside o comp%tationaminin). I t*in1 t*at earnin) and ,%i din) more e an)e ists in Bitcoin is rea & +*at t*ecomm%nit& a,so %te & needs ri)*t no+. Especia & +it* a t*e in ormation )oin) aro%nda,o%t e er&t*in) t*at +ent do+n +it* $t2o/ and e er&t*in) t*at *as *appened.

-B: Can I as1 &o% )%&s a side %estion in re erence to Cr&pts&

ABL: S%re


23/35

-B: I' e ,een %sin) Cr&pts& or a+*i e. I )%ess I tr%st t*em8 ,%t I don't rea & %nderstand*o+ m%c* or *o+ itt e +e s*o% d tr%st an e/c*an)e. I t*in1 t*e& are in orida8 Bi)

ern's t*e o+ner8 I t*in1 I read an artic e a,o%t *im. I don't remem,er *is % name. Can&o% ta 1 %st a second a,o%t t*at8 +*at e/tent do &o% tr%st Cr&pts& or can +e re & onCr&pts& to ,e *ere ne/t &ear or t*e &ear a ter Not 2o/ %s8 not p% a 2o/ on %s.

ABL: I t*in1 t*at Cr&pts& is one o t*e more dan)ero%s e/c*an)es o%t t*ere.

-B: O*8 I *ate to *ear t*at.

ABL: B%t8 I'm in t*e same ,oat. I %se Cr&pts&8 t*ere %st aren't man& )ood options. It %stdepends +*at 1ind o ris1 &o%'re ta 1in) a,o%t.

$: I don't t*in1 Cr&pts& is necessari & dan)ero%s. I t*in1 some o t*e coins t*at t*e&operate +it*in t*e net+or1 are dan)ero%s.

ABL: I'm ta 1in) a,o%t t*e ;S. I'm ta 1in) a,o%t operatin) t*at e/c*an)e in orida8t*at's in m& mind t*e most dan)ero%s t*in) t*at t*e& do.

$: e)% ation +ise.

-B: 5*&

ABL: Beca%se +e don't 1no+ +*at's )oin) to *appen. And ,an1in) re ations*ips canc*an)e. Cr&pts& is sort o ins% ated rom t*at ,eca%se t*e& don't trade do ars8 ,%t t*e&+ant to trade do ars8 t*e&'re tr&in) to )o into t*at. A)ain8 I don't 1no+8 I' e ,een )ettin)an itc*& ee in) a,o%t Cr&pts& or t*e ast co%p e o +ee1s8 ,%t it's %st ,eca%se o t*e

en ironment t*at +e're in. I don't 1no+.

$: 5e co% d *a e iat coins on t*e Co%nterpart& protoco ri)*t T*en &o% co% de/c*an)e t*ese coins or LTBcoins

ABL: Tradin) t*e coins isn't t*e pro, em. 5e don't need to %se Cr&pts& at a 8 +e co% d %st %se t*e decentra i0ed net+or1. I'm not rea & %sin) do ars as t*e on ,oardin)mec*anism or LTBcoin. I'm t*in1in) t*at peop e are )oin) to come in rom ot*ercr&ptoc%rrencies and speci ica & rom Bitcoin8 I t*in1 t*at's t*e ast ma orit& o +*at+e're )ettin). I'm ine +it* t*at ran1 &8 I t*in1 t*at t*is is a read& *ard eno%)* to

%nderstand. It's )oin) to ta1e a+a& ,e ore peop e )et it. I'd rat*er t*at +e )et peop e +*oare at east sa & eno%)* to ,e a, e to )et into Bitcoin. at*er t*an tr& and e/p ain it to peop e +*o can't e en do do ars.

-B: Is t*ere a sa e decentra i0ed e/c*an)e comin) %p I 1no+ t*is is rea & o s%, ect8 ,%t is t*ere a sa e decentra i0ed e/c*an)e comin) %p t*at peop e can rest eas& *a in) mi ion (o)ecoins t*ere or H Litecoins or +*at *a e &o%


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ABL: 5e 8 t*e Co%nterpart& +a et t*at is comin) o%t *as a ,%i t in decentra i0ede/c*an)e. I don't 1no+ i sa e.

$: I 1no+ it's )oin) to ,e one or t+o.

ABL: T*ere are se era t*at are comin) o%t. T*is is a pro, em t*at *as ,een 1no+nsince... I t*in1 I started ta 1in) +it* C*ar es #os1inson8 a,o%t p%ttin) to)et*er an F pri0eor a decentra i0ed e/c*an)e ,ac1 in -% & o ast &ear or somet*in) i1e t*at. T*is *as

,een a pro, em t*at *as ,een rea & apparent. 2o/ *as a +a&s ,een... 2o/ %st ai ed t*istime. T*at's t*e on & di erence. 5e +ent t*ro%)* t*is e/act same earnin) c%r e asttime8 e/cept t*e& st%c1 aro%nd and it didn't end. T*at +as t*e on & di erent t*in) t*at*appened t*is time.

-: -o*n8 et me c*ime in on t*e idea o decentra i0ed e/c*an)e. T*e +a& Co%nterpart&+or1s i I traded +it* &o% or o er Co%nterpart&8 Co%nterpart& ne er *o ds an& o o%r

coins.


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o content or da& is partic% ar & pop% ar +it* re)ards to tippin)8 peop e s*o% d % timate & ,e tippin) ,eca%se t*e& +ant to tip. Beca%se t*e& t*in1 t*e content is )ood8 and t*e&t*in1 t*at's its a air t*in) to do. T*e proo o tippin) part8 t*e compensation part is a

,ootstrappin) mec*anism. B%t it is on & needed +*en no,od&'s doin) it. 5*ene er&,od&'s doin) it8 it's i1e a itt e passi e income stream or participatin). I sti t*in1it's )oin) to ,e a decent amo%nt t*at is )oin) to ,e distri,%ted on a per da& ,asis or a o t*ese t*in)s. -%st a)ain8 ,eca%se +e are %sin) ,i) eno%)* n%m,ers t*at +e don't *a e to)i e peop e . o a coin. 5e can )i e peop e coins or a simp e t*in). T*at's o1 ,eca%se+e *a e a ot o t*em ,eca%se t*e& aren't +ort* too m%c*. T*e )oa is t*at t*e& +ie ent%a & ,e. A o t*ese mec*anisms are desi)ned to ma1e it so +e ne er *a e a da& or +ee1 +*ere t*ere is not*in). 5*ere re)ard ess o +*at t*e t*in) is +*et*er its content.T*at's t*e ot*er t*in)8 ,& doin) t*is &o% con ince peop e to spread t*in)s o%t. Ot*er+ise8+*at i e er&,od& %st +ants to re ease on 5ednesda&. 5e 8 t*e& can. T*ere is nodisad anta)e8 ,%t i &o% *a e a s&stem i1e t*is +*ere it trac1s it ,& t*e da& or +ee1 or

+*ate er. It enco%ra)es peop e to re ease on a sc*ed% e t*at act%a & ma1es sense or*%mans as opposed to ma1es sense or ma/imi0in) &o%r potentia impact.

-B: Nice.

ABL: %e,en sa&s8 5*at is t*e time +indo+ or acceptin) comments in t*e proo ocomment protoco 5e're sti ta 1in) a,o%t it. I'd i1e it to ,e per da& or per *o%r. I'm%nc ear on e/act & *o+ m%c* o a pain I'm )oin) to ,e in itin) i I sa& per *o%r. T*atma1es sense to me. T*en &o% can cater to a comp ete & internationa a%dience or at east

peop e +*o sta& %p a ni)*t.


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someone +rites an ama0in) artic e and someone e se +ants to do an a%dio ersion o it8+i t*at ,e a o+ed 5i t*e ori)ina +riter )et a portion o t*e a%dios LTBcoin D T*ereare t+o +a&s t*at t*is co% d *appen8 &o% co% d *a e t*e te/t ersion p%, is*ed onsome,od&'s , o). Some,od& co% d se ect or t*at8 t*en &o% co% d prod%ce or indsomeone to prod%ce or &o% t*e a%dio ersion o it. T*en &o%'d *a e to ind some,od&e se to inc %de it in a s*o+. So &o% co% d possi, & ,e paid t+ice or +or1 t*at's doneonce. B%t8 it +o% d *a e to ,e some,od& +*o 1no+s its a read& ,een re eased in t*eseot*er c*anne s and inds a ot o a %e rom it. So i it's s%c* an ama0in) piece t*at a

,%nc* o peop e +ant to r%n it8 t*en &ea* I t*in1 t*at's tr%e. Ot*er+ise I s%spect t*at+*at's )oin) to *appen is t*at a%dio ersions are )oin) to ,e ie+ed as a %e adds.Beca%se t*e& +i ,e a, e to ,e easi & em,edded into ,ot* o%r ne+ +e,site and o%r

p a&er. Peop e +i *a e t*e a,i it& to cons%me it more t*an one +a&. So &o%'reessentia & %st ,roadenin) &o%r a%dience ,& addin) an a%dio ersion. So it s*o% d int*eor&8 at east accordin) to t*e t*eor& I'm +or1in) o o no+8 ma1e +*ate er &o%'re

doin) more a %a, e to *a e a ideo ersion or an a%dio ersion. It %st depends on i &o%can con ince ot*er peop e t*at is a %a, e and )et t*em to pa& &o% or it.

-B: Coo .

ABL: Andres8 did &o% *a e an& %estions or did &o% %st +ant to *an) o%t Li1e I said8+e' e ta 1ed a,o%t t*is I t*in1 once. I' e to d &o% a,o%t it a co%p e times8 +e *ad acon ersation a,o%t t*is t*e ot*er da& ,%t o%tside o t*at8 t*is is a er& ne+ t*in) t*at+e're doin) *ere. E er&,od&'s ,een so ,%s& *ere8 so i &o% *a e an& %estions ee ree to

%mp in.

AA: T*an1 &o%. I don't t*in1 I'm read& to as1 %estions8 I %st +anted to participate in t*edisc%ssion and %st *an) o%t.

ABL: So%nds )ood.

$: T*is %st came orm t*e


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create some 1ind o asteric.D

ABL: 5*at t*e& are ta 1in) a,o%t8 +*en Et*ere%m anno%nced t*at t*e& +ere )oin) to doa %ndraiser8 I ,e ie e it +as on ipp es p at orm. I don't reca t*e e/act... Peer Co er8t*at is +*at it +as. T*e& set %p a pass t*ro%)*8 t*at t*e& %sed to co ect %nds t*at t*e&

said +ere )oin) to ,e %sed to ,%& Et*ere%m once it +as a ai a, e. T*e& iss%ed to1enst*at +ere i1e %t%res on t*ose Et*ere%m +ere )oin) to ,%&. T*is *appened in a nono icia capacit&8 t*e& 1inda %st did it. T*e Et*ere%m )%&s +eren't s%per *app& a,o%tt*at. T*e ot*er da&8 ma&,e t+o da&s a)o8 I approac*ed t*e ipp e ederation c*at c*anneand +as i1e8 D#e&8 +e're re easin) LTBcoin8 I sa+ t*is *appen ast time. I'd i1e t*is to

,e an o icia t*in)8 an o icia & sanctioned t*in).D T*e& are essentia & deri ati es ont*ese ot*er p at orms. B%t I am rea & concerned it is )oin) to con %se t*e iss%e. I'm a

itt e torn on t*is8 and a)ain i &o% *a e an opinion on t*is8 I'm not rea & a inancia too s)%&. T*at's not rea & +*ere I i e. I'm %st tr&in) to i)%re o%t +*at t*e ,est +a& to dot*is is. I +ant t*e ree mar1et8 in e er& +a& t*at +e can I t*in1 t*at t*e ree mar1ets*o% d ,e determinin) o%r prices and s*o% d ,e determinin) t*e a %e t*at's ,ein) created*ere. Ot*er+ise it's %st ar,itrar& and I'm %st ma1in) s*it %p. I I +ant to do t*at8 t*ereare a ot easier +a&s to do it.

-B: T*at's +*at Li and I *a e ,een doin)8 %st ma1in) s*it %p.

ABL: T*at's rea & +*at it is. $a1in) content is %st p%ttin) &o%rse o%t t*ere andi)%rin) o%t +a&s to dress it %p in a +a& t*at isn't )oin) to ma1e peop e %st s*a1e t*eir

*ead and +a 1 a+a&. T*at's t*e t*in)8 I don't +ant to )et po itica on t*is. I don't )et po itica )enera &8 ,eca%se I ee i1e t*ere are +ords &o% can sa& %st ip a s+itc* in

some,od&'s *ead and t*e& don't +ant to isten to &o% an&more. I t*in1 t*at t*at's i1e t*e+orst t*in) t*at &o% can do8 is *a e some,od& %st comp ete & t%ne &o% o%t. It's ,etterinstead to 1eep t*e con ersation )oin) and tr& to %nderstand +*at piece o t*e p%00 et*e& are missin). I' e said t*is ,e ore on t*e s*o+8 ,%t t*at rea & is t*e t*in).


28/35

$:


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t*in1 t*at t*e comm%nit& percei es t*ese t*in)s to ,e a pro, em. T*at's +*at I +ant to do*ere8 I +ant to *a e t*is ,e er& re ia, e. I'm p%ttin) m& rep%tation ,e*ind it8 is rea &+*at's *appenin) *ere. T*e Let's Ta 1 Bitcoin7 Net+or18 ,%t me most & are p%ttin) m&rep%tation ,e*ind t*is. I it ai s8 it's )oin) to ,e a ai %re t*at's )oin) to ,e on me. So I'm

er& moti ated or it to s%cceed. Broad & I t*in1 t*at t*ese coins8 t*ere are )oin) to ,e aot o t*em comin) o%t t*at o o+ t*e same mode 8 and t*e& are ,asica & rep%tation

coins. Beca%se +e are moneti0in) t*e rep%tation o t*e indi id%a . -%st as Snoop (o) and(re are )oin) to do it8 so +i LTB irst.

AA: T*at ma1es a ot o sense. I didn't %nderstand proo o ,%rn %nti no+. I'm ) ad &o%e/p ained it Adam8 t*at +as rea & interestin). It a so eads me to *a e a ne+ t*eor& a,o%t+*at *appened to $t2o/8 I t*in1 t*e& %st a%nc*ed a massi e proo o ,%rn8 Q 8Bitcoin. or a ne+ c%rrenc& ca ed t*e Karpe es.

-: -%st to add to t*is8 irst o a *ere's a , o) post %st creepin) dirt& on ace,in. I don't

e en t*in1 it's p%, is*ed &et on Co%nterpart& +*ic* rea & )oes into some detai on prooo ,%rn. One +a& to oo1 at is +*en &o%'re minin) ,itcoins8 and most o %s *a e pro,a, &done t*at.


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create a piece o content and &o% %p oad it8 and &o% p%t t*e it address into it and an& tipst*at )o in )o most & to t*at address. Content creators +o% d a so *a e t*e a,i it& to sa&8DO18 an& tips t*at come in t*ro%)* a p a&er someone em,eds on t*eir o+n +e,site. T*e&can p%t in t*eir o+n address and )et H or or +*ate er percenta)e t*e& +ant o t*etip.D So it creates t*is s&stem +*ere peop e pro it rom peop e ,ein) )enero%s on t*eir

p at orm. It's )enerosit& t*at as someone recei in) t*e tip8 t*e& mi)*t not *a e )otten it*e& *adn't done t*at. T*is is somet*in) o%nd8 t*at a ot o peop e +i em,ed o%r tipin ormation ,%t a ot o peop e a so ea e it o entire & and some peop e8 ma&,e 4H+i c*an)e t*e tip in ormation to t*eir o+n and %st +ont mention it. T*ere's not rea & a+a& to i)*t t*at e/cept ,& )oin) do+n t*is pat* and inte)ratin) t*e tip portion +it* t*econtent itse . T*e& came ,ac1 to me a ter a +ee1 and a *a and said t*at t*e& *ad ta 1eda,o%t it and t*at t*e& +ere er& interested in doin) t*at. I to d t*em t*at i t*e& +ant tocome a on) I am *app& to dra) t*em into t*e %t%re +it* %s.

$: 5*at +o% d *appen i LTBcoin adoption ,ecame )reater t*an Bitcoin I %st see t*at)i in) t*e access to minin)8 +*ic* isn't minin) essentia &8 it's earned. Potentia & +eco% d to%c* a )reater mar1et t*an Bitcoin at t*is c%rrent point. -%st ,eca%se +e arema1in) it t*at m%c* easier or %sers to adopt cr&ptoc%rrencies.

ABL: 5e LTBcoin is ,%i t on top o Bitcoin8 so to a certain e/tent t*ere are imitin)actors *ere. Bitcoin is c%rrent & restricted ,& se en transactions per second. I 1no+ t*at

t*ose are 1inda arti icia imitations t*at can ,e i/ed. B%t t*ere are sca a,i it& iss%es i+e are rea & s%ccess % *ere. T*e )ood ne+s a)ain is t*at +e can %se proo o ,%rn8 t*enon4in ammator& name or t*at is DTo1en E/c*an)eD. 5e can %st sa& t*at or e er& LTB &o% *a e *ere8 or mo in) into t*is ne+ c*ain8 &o% )et one o er t*ere. It's prett&strai)*t or+ard. 5e *a e t*e a,i it& to 1ind o e/ and )ro+ as +e need to. B%t I am

er& interested to see +*at *appens +it* Bitcoin. I don't t*in1 t*at it is LTBcoin t*at +i ,e a t*reat8 ,%t t*ere are a ot o c%rrencies o%t t*ere t*at do e er&t*in) t*at t*e Bitcoindoes and more. I t*in1 t*at so on) as t*ose t*in)s are tr%e8 t*at's t*e irst rea t*reat t*atBitcoin *as aced. Litecoin *as ne er ,een a t*reat. 5*en some,od& e/ists to ,e insecond p ace8 &o% don't cross t*e inis* ine irst %n ess somet*in) %ndamenta & ,rea1sin t*e s&stem and t*en t*e& *a e t*at opport%nit& +*ere ot*er+ise t*e& +o% dn't. So iS*a ,ro1e and it +as a a,o%t Scr&pt coins8 t*en &ea*8 Litecoin +o% d +in. T*at's i1et*e scenario +*ere Litecoin +o% d s%rpasses Bitcoin8 ,%t *ere &o%'re ri)*t. T*ere are a ot

o di erent %ses and i peop e +ind %p pre errin) t*ese c%stom c%rrencies8 and %st %sin)Bitcoin to )et in and o%t o t*em8 t*en *o din) H di erent c%stom c%rrencies t*at a )i e&o% an ad anta)e +it* one partic% ar p ace t*at &o% )o or i1e to *an) o%t. I don't 1no+. It*in1 it's )oin) to ,e er& interestin) +*at's )oin) to *appen o er t*e ne/t co%p e mont*s.

$: I 1inda see Bitcoin as ,ein) t*e )o d or reser e c%rrenc& amon) e er&t*in) ,eca%seit's t*e most i %idata, e. T*ere is a ariet& o p aces &o% can %se it t*at to%c* prett&m%c* e er& mar1et +e can t*in1 o and t*at's )ro+in) e er& da&. I t*in1 t*at LTBcoin


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*as a )reat a en%e to ,e a ,ac1 ,one or Bitcoin8 and add more incenti e or act%a &%sin) ,itcoins. I don't rea & ie+ it as a competitor. An& more %estions

PB: Can I sca e it ,ac1 a itt e ,it I ind t*is +*o e concept ascinatin)8 t*e idea t*at &o%can in %ence peop es ,e*a ior +it* an incenti e8 or %st ,ootstrappin) a net+or1 in

)enera . #o+ m%c* impact do &o% t*in1 t*ese st& e o coins +i *a e in t*e ne/t to &ears or so

ABL: I t*in1 t*at t*ese are )oin) to c*an)e e er&t*in).

PB: I a)ree.

ABL: Acti e & (isen)a)ed as1ed8 D I t*is co% d ,e a competitor to Li,ert&.me +*ic* is-e er& T%c1ers %p comin) socia net+or18 i,ert& orientated socia p at orm. Not on & ist*is not a competitor to Li,ert&.me8 ,eca%se it's not rea & a socia net+or18 +e are )oin)to *a e or%m and comm%nit& e ements ,%t it's %st di erent. I *ad a con ersation +it* *eand $ic*ae $e)an t*e ot*er da&8 a,o%t creatin) one o t*ese to1ens or Li,ert&.me toincenti i0e acti ities on t*eir or%ms and to incenti i0e acti ities on t*eir comm%nit&.Beca%se a)ain8 &o% co% d do proo o postin)8 and proo o )oin) to a Li,ert& e ent8an&t*in) t*at &o% +ant to incenti i0e +it* t*ese t*in)s. A &o% need to do is create ato1en. I *a e an ana o)& t*at I *a e ,een tr&in) to i)%re o%t *o+ to proper & artic% ate8t*at ta 1s a,o%t *o+ &o% can %se t*is tec*no o)& to ,ootstrap a +is*in) +e . #o+ a+is*in) +e is t*is anci % t*in) +*ere it doesn't act%a & )enerate an& 1ind o res% ts

or &o%. So8 i &o% st%m, e across one8 e en i it's a rea ma)ica oo1in) one8 &o%r pro,a, & not )oin) to t*ro+ in a )o d penn& t*at &o% *a e in &o%r poc1et i t*at's a &o%

*a e. So peop e t*at *a e ,itcoin aren't rea & compe ed to do t*ese t*in)s ,eca%se t*e&*a e somet*in)'s t*at a %a, e ers%s somet*in) t*at's ar,itrar&. 2i en t*e top t+ooptions8 &o%'re not )oin) to spend t*e a %e in t*at sit%ation i &o%'re ma1in) t*e ri)*tdecision.


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e/ists. ea & t*e %estion isn't8 D(oes comm%nit& *a e a %e D T*e %estion is *o+ do+e ,%i d a %a, e comm%nit& +*en +e don't start +it* a %a, e comm%nit& I t*in1 t*att*is is t*e ans+er.

$: 5e %st )ot anot*er %estion8 D#e& +e a read& appreciate oadin) %p t*e C%t,ac1s

card to ,%& co ee8 so +*& not LTBcoin or cons%min) content D

ABL: i)*t no+ +e're not )oin) to c*ar)e or content. It's 1inda interestin). T*isnet+or1 doesn't rea & re & on an&,od& pa&in) or st% . T*e )oa is to ac*ie e as +ide adistri,%tion as possi, e8 and t*e idea t*at &o% +o% d c*ar)e or content imp ies t*at &o%are on & )oin) to )i e it to t*e peop e t*at are +i in) to pa& &o% or it. T*ere are some

pro ects t*at +e are p%s*in) to+ards t*at *a e an e/c %si e e e to t*em. Incidenta &8I'm c%rrent & sta in) %p T*e A t4coin O,ser er8 +*ic* is )oin) to ,e a ne+s etter t*at is)oin) to ,e a ai a, e or LTBcoin c*eaper t*an in ,itcoin. Essentia & dea +it* ario%scoins. I &o%'re interested in )ettin) in o ed +it* t*at +e are p%ttin) t*at cre+ to)et*er

o er t*e ne/t t+o +ee1s8 ,asica &. T*ere is a ot o pro ects8 i &o% +ant to )et in o ed8+*et*er its on t*e content side8 +*et*er it's on t*e tec*nica side8 +*et*er it's on t*e

p*i osop*ica side. 5e rea & need peop e on e er& +a&8 and t*ere rea & isn't a ot ostr%ct%re ri)*t no+. T*at's t*e t*in) t*at I'm rea & ,ad at. I'm )ood at content8 I'm )ood att*is meta st% 8 I'm )ood at ideas8 ,%t I'm rea & ,ad at str%ct%re. LTBcoin.com is t*e

p ace to si)n %p. So t*an1s to e er&,od& or comin) to t*is. T*is +as )ood. 5e're )oin)to do t*is 1inda re %ent &. I *a e a 1inda cra0& sc*ed% e or t*e ne/t t*ree +ee1s8 so I'm

pro,a, & )oin) to do t*is a)ain ne/t Sat%rda&. T*en +e' do t*is a ter I )et ,ac1 rom at*e con erences a)ain. T*e sc*ed% e ri)*t no+8 o%r &ear anni ersar& is Apri H t*. I

p an to *a e a ariet& o t*in)s re %ctance ,& t*at point. I'd i1e to ma1e a n%m,er oanno%ncements a,o%t partners*ips at t*at point to. T*e p an is to *a e t*e test ersion oLTBcoin a ai a, e ne/t +ee1. I'm not sa&in) e/act & +*at t*at's )oin) to ,e ca ed8 ,%t it+i ,e ar& o, io%s t*at it is test and not t*e rea LTBcoins8 so don't +orr& a,o%tsome,od& o erin) to se it to &o% and not 1no+in) it is t*e +ron) one. I do *a e t*atconcern8 t*at it's rea & eas& to start somet*in) i1e t*is8 and it seems i1e peop e do tr& tota1e ad anta)e o peop e. Peop e don't +ant to miss o%t on opport%nities8 so t*e& act ast+it*o%t doin) t*eir do di i)ence. T*ere's )oin) to ,e ots o time to )et LTBcoin8 I+o% dn't concern &o%rse too m%c* +it* it. I &o% +ant to ma1e &o%'re )oin) to )etsome8 t*en re)ister at t*e LTBcoin.com or%ms and ma1e posts ,et+een no+ and t*e

time +e a%nc*. ! ie+s comment on screen" LTB4con8 I i1e t*at. ! a%)*ter"$: T*ere is anot*er )ood s%))estion on t*e


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$: T*is is tr%e

ABL: In a mont* or t+o mont*s t*ere are )oin) to ,e ots o coins o%t t*at are )oin) totr& and do t*is same t*in). It's )oin) to ,e eas&8 and peop e are )oin) to %nderstand oncesome,od& pro es t*e mode . T*at's t*e )oa I t*in1 is to pro e t*e mode . Once +e

s%cceed +it* t*is8 t*ere are ots o potentia en%es t*at co% d *appen *ere. T*ro%)*Co%nterpart& &o% can do t*in)s i1e di idends. T*ere are a ariet& o ot*er t*in)s &o% cando +it* it too. One o t*e ot*er interestin) parts is t*at +e are )oin) to create t*e to1enst*emse es t*at represent sponsor s ots8 are )oin) to ,e to1ens t*emse es t*at are )oin)to ,e trada, e on t*e Co%nterpart& Net+or1.


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ABL: I don't 1no+ i it's a 5i1i8 I t*in1 t*at t*e or%m does t*e o, o a 5i1i. It's a ot oin ormation8 it's a %nder topics. It's not speci ic8 and topics )o o topics +it*in t*em8

,%t I'm not a ,i) an o 5i1is. I t*in1 a , o) is simp e and t*at's +*at +e're pro,a, &)oin) to +ind %p doin). A)ain8 it +i %st ,e t*e ,asic in ormation t*at &o% need and +e+i %pdate it as +e )o.

-: -%st co%nt me in on an&t*in) re ated to , o)s and t*at sort o t*in) on LTB. I a)ree8 a5i1i is pro,a, & er& tec*nica or most o 1s o%t t*ere.

ABL: Access a,i it& is +*at +e're oo1in) or o%t t*ere. T*an1 &o% o,8 I appreciate t*at.O18 )%&s t*an1 &o% er& m%c* or doin) t*is. 5e're at a itt e ess t*an t+o *o%rs8 t*at's

,etter t*an +*ere I t*o%)*t +e +ere )oin) to ,e. 5e +i set%p anot*er one or ne/t+ee18 and t*en i peop e are +i in) to do it8 +*i e I'm tra e in). I'd ,e *app& i t*ese*an) o%ts did *appen +ee1 & +*en I'm not *ere too. T*at'd ,e )reat. I'm rea & acti e &tr&in) to not ma1e m&se t*e point o ai %re on t*is8 ,eca%se t*at +o% d ,e ,ad. 2reat.

T*an1s &o% e er&,od& or oinin). 5e' set t*is %p a)ain or ne/t time8 and I'm oo1in)or+ard to doin) t*is +it* &o%.

-B: T*an1s Adam7 T*an1s $att7

$: #e&8 nice to meet &o% -o*n.


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$: #e +as read& to )o man.

-B: I *ad to p% it o t*e +a . It *an)s on t*e +a .

ABL: T*at's )reat8 I o e it. T*at's antastic. A ri)*t )%&s8 see &o% ne/t time.

$: T*an1s so m%c* -o*n.

-B: T*an1s )%&s.

!Let's Ta 1 Bitcoin7 T*eme m%sic ades in"

ABL: T*an1s or istenin) to episode 93 o Let's Ta 1 Bitcoin7 Toda&s s*o+ +as recordedi e on 2oo) e #an)o%ts. T*an1s to e er&one t*at participated. I &o%' e )ot a %estion

t*at +asn't ans+ered or +o% d i1e to 1no+ more8 isit Letsta 1,itcoin.com?rs p to ,edirected to t*e ne/t *an)o%t opport%nit&. $%sic or t*is episode +as pro ided ,& -arred

%e,ens and )enera %00. An& %estions or comments EmaiAdamR etsta 1,itcoin.com.

44444444444444444444444444444444444End o a%diocast4444444444444444444444444444444444444

Transcri,ed ,& Pi AKA Im_*ere_no+

transription ep.93 completed

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