Don’t give up your precious Bitcoin for altcoin interest on Coinbase! BTC is like rare art, Trezor


Hello everyone this is adam meister the
bitcoinmeister the disrupt meister
welcome to the one bitcoin show today is
august / ii 2019 strong freaking hand
value wealth in bitcoin one bitcoin
equals one bitcoin offended by selling
uncompensated conviction alright you get
a new show here every day
hello my leaf friends i see you guys
jumping into the live chat right now
remember for those of you that are awake
at this very late hour in the united
states of america you can ask questions
if you type in bitcoin meister i’ve got
time to do some Q&A today
now of course check out the archives
disrupt meister dot-com follow me on
twitter at Tech ball tch be alt I’m
getting back into the swing of things
slowly catching up just I’ve been
traveling it’s been a holiday etc etc I
got a lot of other stuff to do this week
the entire time I’m in Baltimore is
filled with family and religious stuff
so yeah who knows what’s going on here I
want to say on Friday though this
weekend Bitcoin will be on as usual it
will be after 2 p.m.
definitely after 2 p.m. Bitcoin Tina you
guys love him he will be one of the
guests maybe the only guest who knows
but he will be on the show and that will
be Friday this week in Bitcoin Caitlin
Long was last Friday check that out
check out Saturday’s be on Bitcoin show
and check out yesterday’s show it’s
linked to below we were talking about
one Bitcoin equaling 1 Tesla yeah I try
to make it easy for you people who can’t
grasp the future who can’t get that just
kind you need to have a physical
reminder
under of what that one Bitcoin is going
to be worth there’s a lot of you or just
like oh it’s it’s $8,000 now I gotta
sell it
you got eight thousand now think about
the future
alright so speaking about the future
coin base is that the future dudes is
that is that the I hope that’s not your
future I hope that’s not where you’re
storing your Bitcoin because we’re going
to talk about Tresor in a second tube is
you can store it there and you should
store it at a treasure where instead of
letting someone else control your
private key but coin base is enticing
the 80 percenters to turn their precious
Bitcoin into something called a stable
coin a stable coin called the USD coin
the US dollar coin okay you know I’ve
heard the thing before I’ve heard of USD
coin before I got this email from coin
base because I’ve used them in the past
and the it explains the glory of the US
dollar coin and there’s a button in the
email that says start earning so some
people are gonna they’re gonna want to
start earning they’re gonna think oh
well what is this introduced I’m gonna
read you the email introducing 1.25% APY
rewards on USD coin starting today
eligible US customers will earn rewards
for every USD coin held on coinbase so
okay so you freaks out there are gonna
be a cool better turn my Bitcoin into
this stable coin all coin so I can get
one point two five percent return now
they’ll keep giving me one point two
five percent on my what is this thing
USD coin so you get ten you own 10 USD
coin or you own 100 USD coin god forbid
and eff you after a year you’ll get a an
extra 1.25 US dollar coin oh wow oh wow
but people aren’t going to think of it
that way they’re gonna be like ooh
interest interest I don’t need to hold
Bitcoin I’ll just keep it in USD coin
and I can get interest such noise such a
distraction
on that like button if you’re not going
to get tempted by this ridiculous and
ridiculousness is that word but uh your
balance and with a 1.25%
a py this is them your balance may grow
faster than our traditional savings
account that traditional savings account
is is horrible today why bitcoin is the
new savings account pound that like by 9
USD coin not Bank of America or Wells
Fargo no Bitcoin is but you’re being
distracted by coinbase and cornice is
gonna win because they’re gonna do well
because this because people aren’t gonna
think this out grow faster than
traditional savings account one dollar
minimum is it only takes one dollar in
USD coin to get started
note no new accounts and some people are
gonna think oh I shouldn’t be paying
with playing with tether better play
with USD coin instead and this is how
they get customers to trade on their
platform instead of trading a financing
whether but again this is their personal
business
let the stable coins compete against
each other compete don’t complain I’m
just saying
bitcoin is my stable coin it should be
your stable coin also and you should
have switched from bitcoin to this just
because they’re gonna give you one point
two five percent more whatever this is
over a year now and of course of course
they’re gonna cook they’re gonna compare
to a traditional savings account because
chrysalis actavis account is freaking
garbage now it’s basically a negative
rate with if their fees and whatnot uh
in here they have to say it one dollar
in USD get no new accounts no extra fees
just convert one dollar or more of cash
to USD see and start earning stay in
control because US dollar coin is crypto
you’re always in control of your funds
now well yeah I could without mine you
don’t control your private key they this
is a centralized coin a control but they
could say what they want to say I guess
you withdraw any amount at any time sure
or convert into another crypto as you
see fit stable value 1 USD
coin is always worth one US dollar so
you don’t have to worry about market
volatility see our support center and
our US DC rewards terms to learn more US
DC is not legal tender US DC is a
digital currency and coin base has no
right to use any US DC you hold on
coinbase coin base is not a depository
institution and your US DC is not a
deposit account I’m reading you the fine
print now obviously savings checking or
otherwise your US DC wallet is not
insured by the FDIC or the securities
investor program corporation I is PC
alright so why the heck can coinbase do
this but Facebook can’t have Libre I
mean figure I think about this very
arbitrary quite arbitrary now I know
they’re not the same thing but this and
I let let coinbase do this let them give
interest on us DC but they’re saying
they’re not a bank they are a bank
really when they’re when they’re doing
something like this but since they say
they’re not a bank since they say it’s
not FDIC they get away with it they’re
friends with the government they follow
the regulation Facebook is not on good
terms with the government so they’re big
there have to jump through hoops to just
get their stable coin introduced so coin
base gets to pump up this stable coin
gets to give interest in this stable
coin Facebook can’t even create their
own stable point there you go but the
bigger lesson in all this is that don’t
don’t be tempted you coin based buyers
don’t it if you’ve got extra cash that
you felt you were gonna turn into a
cryptocurrency then turn in the Bitcoin
and get that Bitcoin off of coinbase you
get interest on your Bitcoin by holding
it on your treasurer and claiming the
crypto dividends the the air drops which
are air drops and Forex so and learn how
to do that we’ve talked this is the
insider information you get right here
only here pound that like button for
your home for Bitcoin insider
information
let me see if we got some uh we got West
Coasters in the house I see alright no
no questions no questions good if you
got questions type in bitcoinmeister uh
and someone says I’m imagining the tax
reporting issues I don’t know if you’re
talking about stable for this stable
coin but there won’t be any tax
reporting issues they will send you
everything you need to send they will
report to the government that you’ve got
interest on this okay
yeah they’ll do it all for you so you
will be nothing is hitting this is a kyc
coin this is a total pay by seat coin
and if all of a sudden they don’t like
you anymore they can turn it off and
there goes your 1.25% interest but I
don’t think their tax reporting issues
that they’ll make it quite makes will
make it really easy for you you’re
playing in their little realm here when
you get into their stable point so but
but don’t don’t take that as a as a
reason to get into it they’re stable
claim is to the big coin yes yeah well
first of all if you’ve got big coin in
your selling Bitcoin on point base they
make it pretty easy they may report
everything to the IRS so you you you
you’ve got to file if you’re playing
with coinbase you’re you’re in the IRS
realm okay moving on a Bitcoin over art
I say the the great Bitcoin Tina who
will be on the show on Friday why do
they say art goes up in price after the
artist is dead simple no more art can be
produced by the artist provable scarcity
Bitcoin is better very good way to
compare fine art by a dead person it’s a
big point because indeed the greatest
artist once they leave this physical
realm there there’s gonna be no more
okay
and thus it’s scarce thus it goes up in
value Bitcoin it’s we already know
there’s not gonna be more than 21
million of it okay
just like when an artist dies we already
know there’s not going to be you know 15
of his paintings that more than 50 of
his paintings but I would agree that
bitcoin is better because bitcoin is a
truth machine okay is the security truth
machine that’s an underlying value right
there
and something that it provides fine art
is in the eye of the beholder but it is
treasured by many they’d be great the
great artists at least but again that’s
uh that’s subjective right there who was
a great art what’swhat’s great art but
the the scarcity comparison I do the
provable scarcity there you go I like
that let me check before we try to talk
about treszura’s new firmware I’m gonna
check something here well what God the
chat the chat I’ve got two different
chat windows open and they look
different it’s kind of funny
oh yeah youtube let me just show you
this Bitcoin to the moon shirt I’ll be
I’ll be in Australia with Bitcoin to the
moon very soon I’ll land in Sydney on
the 17th I’ll be in this in Sydney
Australia from October 17th to the 24th
and then a delay for the next month or
so and I’ve never been to Adelaide
before but I’m really looking forward to
Sydney also to hang out with Hassan and
the crew Adrianna all right moving on
product update from Tresor new Bitcoin
only firmware now available now we
talked about this a few weeks ago now
it’s available this month’s firmware
update brings a brand-new and highly
requested feature to both the Model T
and the Tresor one Bitcoin only firmware
I linked to you a link that discusses
this below you can still store both
altcoin this is a question allowed you
hat you can still store both alt coins
and bitcoins on your tresor but but when
you install the bitcoin only firmware
and you don’t have to do this when you
install the bitcoin only firmware you
won’t be able to see or access your alt
coins from your tresor wallet not to
worry though your coins are still
completely safe you’ll have to switch
back to the regular firmware if you want
to access any altcoins
well this is a nice way yeah if you
can’t control yourself if you have weak
if you’re a little weak in terms of the
self control you want FOMO on all coins
if you if you download this firmware
because you won’t be able to store the
you any new alt coins now if you already
have all coins you won’t be able to get
to your old alt coins and and trade them
in for Bitcoin either so this is for a
person who sort of values their wealth
in all coins and things are going to
sell it for Bitcoin which they should do
they won’t be able to do this this will
prevent them but it’s more so for the
Bitcoin er
who doesn’t want to see anything to do
anything dealing with alt coins when he
logs into his treasure or to check how
many precious Bitcoin that he has
obviously he’s not logging into his
treasure or to sell his Bitcoin I would
hope not because you know what I’m
offended by selling pound that like
button and now we’re going to talk about
being offended by selling or offended by
spending this is miguel cuenta cuneta
excuse me
someone accepting some crypto for some
kind of retail transaction is absolutely
meaningless and does not equate to
adoption it’s a gimmick bitcoin was not
invented to compete with Starbucks
prepaid cards I agree with that one it’s
competing with central banks and state
monetary policies yes it is the
newfangled savings account for the 2020s
and beyond it isn’t there to compete
with Starbucks prepaid cards now yes it
is gimmicky for people to accept Bitcoin
or cryptocurrency whatever you want to
say for payments at their their business
if they’re just gonna turn it into fiat
now if these people want Bitcoin at
their business because they value their
was a Bitcoin and they’re trying to
acquire more Bitcoin then that’s cool
it’s not a gimmick but they’re not that
many people trying to do that out there
a lot of peat and a lot of people are
judging adoption on
how many how many people are spending
Bitcoin Oh coffee now now that’s not how
many people in South Africa are in
Zimbabwe shoes in Zimbabwe are
converting their useless Zimbabwe
dollars into bitcoins so that they can
flee the country or or that they can
spectate their their wealth won’t be
inflated away how many people in
Venezuela are doing that how many people
in Hong Kong are doing that so they can
leave the country the these are
different these are measurements that I
am interested in I’m not interested in
how many people are spending at
Starbucks or coffee place XYZ so you can
argue you know it’s gotta be a spendable
it’s gotta be it is spendable people
want to spend it you can spend it you
it’s nothing stopping anyone and all you
lightning network freaks you can work on
that I’m concerned I know it was not
invented to compete with Starbucks
prepaid cards and I get a lot of Doomer
emails well just like guys newsletter
people that I don’t know how they have
my email address some of these people
I’m not gonna mention one of them but
there’s one specific I kept these email
and you know in the title there’s all
this the guy mentions gold and I gotta
be honest for everyone out there I don’t
know what the heck is going on with gold
right now I don’t know the price of gold
I never checked the price of gold I
don’t really read things that nothing
catches when I see gold
I don’t like click on an article to see
Oh dad at all-time high is it how much
higher is it then it was a few weeks ago
a few months ago like I have no interest
in it and I just I don’t see how anyone
can have any interest in it does what is
the what’s the point what’s the point so
I see these headlines trying to get me
to click on their emails because they’re
talking about golf gold is on a surge
now yeah so what I mean is a blunt
assets
it’s so not tempting to me at all so
it’s so in the past gold is old so I and
some people try to kindly yo Adam don’t
you diversify an illegal no I don’t for
you newbies I do not diversify in the
gold and to a point where like I don’t
even know the price of gold right now I
don’t I know it went up I mean it was
Peter Schiff start screaming about it
and then has it gone down since then
I mean what I doesn’t really matter does
it really affect our lives at all
it does not affect my life at all
so these people that are trying to sell
their newsletters with you know they’re
finally right about gold so they’re not
but whenever they get close whenever it
does a you know goes up a dollar or
whatever they’re bragging about it it
this is they’re not gonna get I don’t
know what they’re expecting to get with
these headlines I don’t know what their
what they’re really trying to do it’s
it’s an old formula maybe it used to
work in the 1990s with subscription
emails and stuff but we’re not in the
1990s anymore it is if you haven’t
switched in the Bitcoin yet you are like
way beat you are in fax machine lands
okay like yeah it went when email came
out okay everyone started getting email
and you were like the last dude with the
fax machine that’s what I might when I
see these emails from these random
newsletter guys that’s what I think of
and it’s just I I am not in that world
at all and I know there’s so many people
that just don’t they have no don’t have
no care in the world about Bitcoin to
put it nicely and that’s me I’ve got not
about big point about gold they have no
care in the world about gold and that
that’s putting it nicely and that’s
where I’m at but I am mentioning it
because I just I’m wondering about you
guys out there do you who do you see
these headlines you get these spam
freaking emails that oh that’s finally
the end gold is taking over what I have
no clue what’s going on all right that
is it
oh wait there is one other thing how
could I forget this
coin desk has an article Congress asked
the Fed to consider developing a
national digital currency yes this is
something that it was only a matter of
time category I’ve talked about this
before we’re going to have fed coin one
day and it seems like these guys these
Congress people Congress men they say
they see Facebook as a competitor they
see that people could opt in the
facebook coin into Libra so in I give
them credit though instead of trying to
shut down Libra these guys are trying to
compete they’re saying fed make us a Fed
coin so we can crush Facebook coin or we
can you know and hey good for them let
the u.s. stop let the people behind the
US dollar create their own fed coin I’m
no problem with that at all
I have no problem with that at all
they’re competing they’re not
complaining it’s it’s annoying when they
try to stop Facebook from creating Libra
because they’re scared of it but being
scared of it is different than being
like okay we’re concerned about this and
we’re going to crush them with our own
fed coin here so compete don’t complain
i’m adam meister the bitcoinmeister the
disrupt meister and is the bitcoin
meister of Bitcoin maximalist no I’m not
I’m a Bitcoin first er I say I think
that I don’t like to term Bitcoin
maximalist I value my wealth in Bitcoin
but I don’t think I think they’ll always
be other coins out there I don’t think I
think it’s fine for altcoins to exist
and compete I’m not into people wanting
to destroy all all coins but Bitcoin is
the only thing I’ve ever bought with US
dollars Bitcoin is the only thing I tell
people they should they should hold they
if there’s no point in getting litecoin
there’s definitely no point in getting
ripple and all that nots the centralized
stuff they’re the only only thing I see
a point in purchasing in terms of
cryptocurrency it turns a holding is
Bitcoin so I’m a Bitcoin first er I say
that’s my own little term
me so good good question there 2fg I’m
not even gonna try to pronounce it man
and someone says duh hold some eise
there’s no I know why the person is
saying that because right now aetherium
is undervalued III would sick if someone
asked me is a theory undervalue now I
said I would say yeah because I’m not a
Bitcoin maximalist that thinks if the
areum is going to die that and and and
that I know aetherium will I mean the
real world I see how many people are
playing around with aetherium and
programming on the theorem and you might
not like it
but there are people that are just
totally into that world their toe and
it’s a growing world it’s not like the
gold world which is like the fax machine
world ok the etherion world it’s
different than Bitcoin but and it’s
growing and sure and the price of the
theorem is going down a lot lately
thus to a point where I think it will it
will go up again but what’s the point of
speculating about that what’s the what’s
up when you could just own the real
thing and that is Bitcoin i am adam
meister the bitcoinmeister the disrupt
meister remember to subscribe to this
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