LET'S TALK BITCOIN

Episode 93
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Participants:
Adam B. Leine !ABL": #ost
$att !$": Comm%nit& Liaison
Actie'& (isen)a)ed !A(": Anarc*ist +e, comic prod%cer
-os*%a !-": Comm%nit& mem,er
.%e,en A'e/ander !.A": Bitcoin $a)a0ine Editor
Scott .o,inson !S.": P'%) and P'a& Tec* Center
$att*e+ Lin1 !$L": Co'%m,%s Bitcoin ent*%siast
-o*n Barrett !-B": Bitcoin and 2ra&
Pa%' Bo&er !PB": $ad $one& $ac*ine
Andres A%nstopo'i%s !AA": 3
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ABL : 5e'come to Let6s ta'1 Bitcoin7 8 a t+ice +ee1'& s*o+ a,o%t t*e ideas8 peop'e8 and
pro9ects ,%i'din) t*e di)ita' econom& and t*e :%t%re o: mone&. $& name is Adam B
Leine and toda&'s s*o+ is di::erent. ;s%a''& *ere at LTB +e ta'1 to t*e peop'e doin)
neat innoatie pro9ects8 ,%t toda& its a,o%t %s. <o%8 t*e 'istener8 and +e8 t*e team *ere at
Let's Ta'1 Bitcoin. Creatin) content :or &o% to en9o&. On Sat%rda& I +as 9oined ,& a,o%t
seent& :o'1s :or t*e :o''o+in) disc%ssion LTB Coin8 t*e 'oca' c%rrenc& o: t*e )'o,a'
Let's Ta'1 Bitcoin Net+or1. T*e :ormat is = > A8 and +*et*er &o%'e ,een :o''o+in) %s
LTBcoin.com :or%m or 9%st *earin) a,o%t t*is ne+ pro9ect :or t*e :irst time. B& t*e end
o: it I *ope &o%''' *ae a )ood idea o: +*at +e're doin) and *o+ &o% can participate.
5e'd a'so 'oe to *ear &o%r t*o%)*ts. Specia' t*an1s to T*omas oer at $ad,itcoins :or
comments in t*e c*at. It's a 'earnin) e/perience :or eer&,od&. En9o& t*e s*o+.
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ABL: #i eer&,od&8 and t*an1s :or 9oinin) %s :or t*e :irst LTBcoin =>A. $& name is
Adam B. Leine8 I'm t*e editor and c*ie: o: t*e LTB Net+or1 and one o: t*e *ost o: t*e
Let's Ta'1 Bitcoin7 s*o+. I don't %s%a''& do 'ie8 ,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
pro9ect. 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& second
e'eator ersion o: +*at +e're doin) is &o% can t*in1 a,o%t t*is 'i1e a cr&ptoc%rrenc& 9%st
'i1e Bitcoin. E/cept instead o: minin) it +it* &o%r comp%ter8 &o% mine it +it* &o%r
creatie e::ort or ,& cons%min) t*e creatie e::orts o: ot*er peop'e. T*e s*ort ersion is
&o% mine it +it* &o%r creatie e::ort. 5*et*er t*at's creatin) a s*o+ :or Let's Ta'1
Bitcoin Net+or18 or r%nnin) a ,'o) :or t*e Let's Ta'1 Bitcoin Net+or1. Beca%se t*at's
1inda +*at +e're moin) to+ards. Beca%se ri)*t no+ Letsta'1,itcoin.com is a +e,site
t*at is 9%st a,o%t Let's Ta'1 Bitcoin. B%t8 +*at t*e LTB Net+or1 is )oin) to ,e is
essentia''& 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'e
do t*at too. T*e idea *ere is t*at t*e LTBcoin sere 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 *ae
some o: t*e drama t*at mone& does. Beca%se mone&8 &o% *ae 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 receiin) it :or :ree :rom one o: t*e +a&s t*at +e +i'' ,e doin) t*is. So oer
time it +i'' ,e +ort* somet*in)8 ,eca%se its a de:'ationar& c%rrenc& and its 'imited in
s%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&
,& )iin) someone some LTBcoin. Beca%se t*en t*e& +i'' *ae 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 incentie str%ct%res so t*at eer&,od& )ains. T*e a%dience )ains and
*as a :inancia' interest8 t*e peop'e +*o are creatin) content *ae a :inancia' interest and
don't *ae to do t*is st%:: spec%'atie'&. Li1e prett& m%c* eer&,od& *as to do on t*e
content side :oreer. Instead it 1inda ties o%r :ates to)et*er and sa&s8 +e're more a'%a,'e
as 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 to
introd%ce $att8 +*o *as ,een actin) as a comm%nit& 'iaison. I *ae a tendenc& to
dominate conersations8 so *e's act%a''& )oin) to 'ead part o: t*is disc%ssion. A'so8 +e
*ae a ,%nc* o: peop'e on t*e ca'' *ere. T*an1s :or eer&,od& poppin) in. I: &o%'d 'i1e to
introd%ce &o%rse'es a,so'%te'& :ee' +e'come. 5e can start +it* t*e )%& +it* an A :or *is
name8 Actie'&.
A(: #e''o. Can &o% *ear me3
ABL: <es.
A(: A'ri)*t coo'8 :irst time %sin) t*is microp*one. I r%n ,asica''& an anarc*ist +e,
comic8 and +as rea''& 9oinin) into Let's Ta'1 Bitcoin to see *o+ t*e e/periment +or1s as
:ar as incentii0in) 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 o:
di::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 @A. It *as c*an)ed m& 'i:e8 and ,%i'din) a prett&
so%)*t o%t pro9ect ca''ed Ba%'t#o''o+. It's sti'' in dee'opment p*ase8 so not m%c* to ,e
ta'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*e
Bitcoin $a)a0ine. I interie+ed Adam a,o%t t*is and *is ot*er pro9ect t*e 2o/coin. I
de:inite'& 'i1e t*e idea o: ta1in) ,'o))in) and content ma1in) to t*e ne/t 'ee'. P%s*in) it
o:: onto a (.A.C. and 9%st seein) +*at *appens. I t*in1 its a ,ea%ti:%' e/periment. T*e
more content ma1ers +e can )et8 coerin) 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 ino'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 o:
comp%tationa' minin) +i'' ,ene:it not on'& *%manit& ,%t I t*in1 t*e comm%nit& in
)enera'. <ea*8 I'e 9%st ,een rea''& e/cited a,o%t +or1in) on t*e LTB pro9ect. I'm tr&in)
to +or1 +it* Adam no+8 tr&in) to capt%re t*e oer a'' ision o: +*ere +e're tr&in) to )o
+it* t*is. Beca%se it seems 'i1e t*e deeper +e die into it8 t*e more comp'e/ iss%es )et.
#ope:%''& +e can ans+er a 'ot o: peop'es pressin) C%estions toda&8 and )o :rom t*ere.
ABL: T*ere's a 'ot o: territor& *ere t*at +e are sti'' tr&in) to map o%t. T*ere are a 'ot o:
C%estions t*at sti'' need to ,e ans+ered and t*ere isn't rea''& an o,io%s ri)*t ans+er to a
'ot o: t*is st%::. So C%estions are rea''& *e'p:%'. I'd 1inda 'i1e to start t*ere. Sorr& Scott8
+e s1ipped &o%8 &o% can do an intro i: &o% 'i1e.
S.: <ea*8 s%re. Scott .o,inson *ere :rom P'%) and P'a& Tec* Center. -%st 1inda
monitorin) t*e entire (.A.C. space. T*is is an interestin) so'%tion t*at I'd 'i1e to :o''o+.
So I'm 9%st *an)in) o%t8 and I +ant to 'earn more.
$L: I'm $att*e+ Lin18 I'm in Co'%m,%s O*io. I'm 9%st ,een a 'on) time ent*%siast o:
Bitcoin and a re)%'ar 'istener o: Let's Ta'1 Bitcoin eer since it +ent on t*e internet.
-: #e&8 Adam8 am I t*e )reen sC%are3 T*is is -o*n.
ABL: <ea* I t*in1 &o%r t*e )reen sC%are -o*n.
!A'' c*%c1'e"
-B: #e&8 t*is is -o*n Beret. I'm in Nas*i''e Tennessee. Li9 and I +on t*e Editors C*oice
a+ard :or t*e Let's Ta'1 Bitcoin7 podcast competition a mont* or so a)o. 5e'e ,een
doin) a podcast o%t o: east Nas*i''e . Li9 and I *ae ,een *ain) t*e time o: o%r 'ies
+it* it. I *ae no idea +*ere Li9 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 9%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 'oca'
companies t*at are acceptin) Bitcoin. T*at's t*e direction +e're ta1in) ri)*t no+.
Interie+ 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 at
t*e same time.
ABL: I'm rea''& *app& to *ae &o% on t*is ca'' -o*n8 ,eca%se &o%r t*e on'& representatie
o: t*e on'& podcast t*at is act%a''& c%rrent'& on t*e net+or1 ri)*t no+. 5*en +e p%t
to)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 into
t*at +it* a dea' t*at +as rea''& temporar&8 and +it* a'' t*e :oc%s s*i:ted to LTB +e rea''&
*aen't rea''& done m%c* +it* it. #aen't *ad m%c* s%ccess. I'm rea''& an/io%s to )et into
t*is8 and to *ae t*e LTBcoin mode' 1ic1 in. I :ee' 'i1e +e ,ro%)*t peop'e on8 and *aen't
rea''& de'iered :or t*em &et. T*at is m& )oa' *ere8 to tr& and so'e t*at pro,'em. 2reat8 I
rea''& appreciate eer&,od& ,ein) *ere. I 1no+ +e *ae 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. Een t*o%)* it +as more
di::ic%'t. T*ere is a 'ot o: interest in t*e concept8 een i: &o%r not necessari'& interested in
t*e LTBcoin t*in). Scott as &o% said8 t*e (.A.C. t*in). T*at's 9%st *appenin). T*is is one
o: ei)*t di::erent pro9ects I'm c%rrent'& ino'ed +it* t*at are ,%i'din) (.A.C.s o%t in
ario%s areas. T*e concept o: ,ein) a,'e to ta1e somet*in) 'i1e concept creation8 and
create a r%'e set and :rame+or1 in +*ic* &o% as an indiid%a' p'%) &o%rse': into a 9o, &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 9o,. Since &o% did it at t*e time it +as needed8 t*en t*at's a a'%a,'e
t*in). T*at's rea''& +*at I ie+ a'' o: t*ese tec*no'o)ies as8 t*e&'re +a&s to D,ootstrapD
ne+ 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't
rea''& stand :or too 'on). T*e mar1et sa&s8 DO*8 I can ma1e some mone& oer t*ere doin)
t*at t*in).D T*en t*e& )o oer t*ere and t*e& do it8 )ien 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'es
essentia''& ,e a'%ed ,& t*e mar1et. As opposed to settin) %p t*in)s t*at +e t*in1 are
correct8 ,%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 to
open it %p to C%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%t
Bitcoin and LTBcoin8 a Let's Ta'1 Bitcoin *an) o%t. Not t*at it's not interestin) 8 ,%t I 9%st
*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) to
'a%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 ,e
created on top o: ,itcoin %sin) a protoco' ca''ed Co%nterpart&. One o: t*e ot*er pro)rams
I'm +or1in) on8 2o/coin as .%e,en mentioned8 is ,asica''& a simi'ar t*in). It's a %ser
created asset +*ere t*ere's no minin). <o% 9%st distri,%te it as &o% need to. As ma1es
sense :or t*at partic%'ar %se case. E/cept t*at one's ,%i't on $astercoin +*ic* is a'so ,%i't
on top o: Bitcoin. 5*at's *appenin) is t*at t*ese %ser created assets *ae a'' t*e
adanta)es o: t*e sec%rit& o: Bitcoin8 o: t*e %sa,i'it& o: Bitcoin8 t*e ,'oc1c*ain o:
Bitcoin8 ,%t t*e& 'et &o% create essentia''& ar,itrar& to1ens. So i: &o% +anted to create
$att*e+coin8 &o% co%'d do t*at. <o%'d *ae to conince peop'e it *as a'%e. B%t8 t*e
tec*nica' c*a''en)e o: it8 t*e creatin) a ,'oc1c*ain and ma1in) s%re &o% *ae eno%)*
*as*in) po+er to ma1e s%re t*e net+or1 is sec%re rea''& ,ecome secondar& concerns t*at
don't matter an&more. It means t*at 'i1e +*at +e are doin) +it* LTBcoin8 'i1e I
mentioned at t*e ,e)innin)8 is ta1in) t*e idea o: minin) and sa&in) Do18 i: +e don't need
t*e sec%rit& part an&more and +e don't need t*e distri,%ted *as*in) part an&more. T*en
+*at do +e +ant to incentii0in)3 5*at t&pes o: actiities add a'%e to t*e net+or13D
T*en +e distri,%te it ,asica''& ,ased on t*at. T*is coin isn't o%t &et8 +e're sti'' :i)%rin)
o%t +*at t*e :ie &ear distri,%tion sc*ed%'e is )oin) to ,e.
.A: I *ae a C%estion. 5*& co%nterpart& :or LTB and +*& $astercoin :or sa& 2o/coin3
ABL: Beca%se I don't 1no+ +*ic* one is )oin) to ,e t*e ri)*t one8 and I t*in1 t*at it
doesn't ma1e an& sense. .i)*t no+ t*ere are :ie di::erent protoco's t*at are :'oatin)
aro%nd. Eac* *ae t*eir o+n to1en8 I: t*at net+or1 s%cceeds8 +i'' ,ecome incredi,'&
a'%a,'e. Beca%se t*ese t*in)s are er& poor'& %nderstood8 I +o%'d ar)%e t*at ma&,e AE
o: peop'e t*at are ino'ed +it* Bitcoin %nderstand +*at's )oin) on +it* t*e metacoins
ri)*t no+8 or 'ess. <o% can ,%& A piece or s*are o: eac* o: t*ose protoco's and spend 'ess
t*an a *%ndred do''ars doin) it8 t*en &o%r inested in eer&t*in). T*en it doesn't matter
+*ic* one +ins ,eca%se it doesn't matter to &o%. It ma1es it so &o% can 'oo1 at t*e coins
er& o,9ectie'&. 5*ere as a 'ot o: peop'e are tr&in) to pic1 sides ri)*t no+ and sa&in)
DO*8 +e'' I p%t mone& into t*is one so t*at's t*e one I +ant to +in.D I t*in1 t*at's a ,i)
mista1e ri)*t no+. 5*at I'm act%a''& doin) is 'i1e I said8 I *ae ei)*t pro9ects I'm
+or1in) on. So :ar +e *ae t+o o: t*em on Co%nterpart&8 one o: t*em on $astercoin8 I
+ant to do one on NFT prett& m%c* as soon as possi,'e. T*e& *ae some o: t*e ,est
so:t+are o%t t*ere8 as :ar as I'e seen. T*eir +a''ets are rea''& o%tstandin). It's :%nn&8 it's
'i1e 'oo1in) at a :%t%re ersion o: +*at Bitcoin +i'' ,e8 ,%t it's *ere no+ and &o% can see
it. SO8 t*ere isn't rea''& a partic%'ar reason8 I t*in1 Co%nterpart& is a so'id protoco'. I
t*in1 t*e& *ae a 'ot o: 'e)itimac& ,e*ind t*em8 and I don't t*in1 t*e& *ae t*e pro,'em
o: :o%nders or t*e pro,'em o: mone&. T*e& a'so don't *ae t*e adanta)es o: eit*er o:
t*ose t*in)s8 ,%t t*e& don't *ae t*e pro,'em and I 'i1e t*in)s t*at are simp'e.
-B: Adam I *ae a C%estion.
ABL: <es -o*n.
-B: So *o+ +as t*e& er& :irst Litecoin created3
ABL: (o &o% mean LTBcoin3
-B: <ea*8 t*e er& :irst LTBcoin. Sorr& a,o%t t*at.
ABL: In t*e Co%nterpart& protoco'8 +*at +e are )oin) to do is8 &o% +i'' ,e a,'e to 'oo1
%p t*e LTBcoin asset ri)*t no+. T*ere it is in t*e c*at8 it's on ,'oc1scan.com. <o% can
searc* :or LTBcoin8 and ,asica''& it s*o+s &o% +*at's %p. 5e 9%st *ae one s*are t*at's
iss%ed. 5*at +e're )oin) to do is iss%e ne+ to1ens on a +ee1'& ,asis8 at t*e same time
eer& +ee1 ,asica''&. It's on a :ie &ear de:'ationa' sc*ed%'e. 5e're sti'' +or1in) on it8 ,%t
it's prett& steep'& de:'ationar&8 +it* most o: t*e c%rrenc& ,ein) iss%ed in t*e :irst t*ree
&ears. 5*ic* I rea''& consider t*e ,ootstrappin) period :or t*e net+or1. T*en8 a:ter t*at it
s+itc*es oer to a more o: a sponsor drien reen%e mode'. ;nti' t*at point8 prett& m%c*
most o: compensation is comin) :rom act%a' ne+ LTBcoins t*at are ,ein) introd%ced.
Instead o: )oin) to miners8 +*o t*en se'' t*em on t*e mar1et. T*e& )o to content creators
or t*e& )o to t*e a%dience T*ere are a ariet& o: +a&s and capacities t*at +e're )oin) to
,e doin) t*at. (oes t*at ans+er &o%r C%estion -o*n3
-B: It did. 5*at stops8 as someone t*e ot*er da& s%))ested8 D#e& t*is )%& +*ose startin)
t*e LTBcoin8 *o+ do &o% 1no+ *e's not )oin) to mine a o: t*em o: t*em to start +it*3D I
said8 D5e''8 GA it's ,eca%se *e's not minin) an&t*in). GH I tr%st *imD and &o%r inte)rit&.
B%t *o+ do &o% C%e'' t*ose :ears someone mi)*t *ae8 t*at Adam B. $i)*t *ae HI
mi''ion o: t*em to start some *o+3
ABL: T*e )reat part a,o%t t*is8 is t*at i: &o% )o to t*at ,'oc1scan pa)e :or LTBcoin8 it
*as :ie ta,s. One o: t*e ta,s is Oerie+8 t*e ot*er ta, is S*are #o'ders8 t*en t*ere's
(iidends8 ;pdates and Contacts. Basica''&8 &o% )et to see eer&t*in) t*at's )oin) on. It's
a tota''& transparent process8 T*e reason I 'i1e t*is ,etter t*an somet*in) 'i1e NTF8
+*ere t*e& iss%ed a'' o: t*em at once8 and t*en t*ere's t*is )iant mone& s%pp'& o%t t*ere.
I t*in1 t*at's a 'ia,i'it&. I: I *ad 9IE o: t*e mone& s%pp'& sittin) in m& acco%nt8 een i:
it's in t*e LTB distri,%tion acco%nt8 t*at's sti'' a *%)e amo%nt o: mone&. It scre+s %p t*e
mar1et cap. It does a ,%nc* o: ot*er st%:: 'i1e t*at. Beca%se +e are %sin) t*ese metacoins8
+e act%a''& can eer& +ee1 o::er t*e :ie &ear sc*ed%'e. T*en +*en +e )et to t*at +ee18
+e ca& sa& D#ere's as man& are iss%ed.D Basica''& +*at I'd 'i1e to do is *ae someone
create an inter:ace +*ere +e can 9%st p%t in a'' o: t*e addresses o: t*e peop'e +*o are
)ettin) part o: t*at distri,%tion. T*en create t*e ne+ coins and *ae 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 *aen't reac*ed o%t to *is &et. I 9%st +atc*ed a ta'1 +it* .&an Sin)er. 5*o's
t*e :ormer :o%nder o: Trade #i'' ,esides 2era'd Kenna8 )ie a ta'1 at t*e Te/as Bitcoin
con:erence. A,o%t essentia''& m%'ti )i) *ierarc*ica' +a''ets. T*e ot*er t*in) t*e& are
o::erin) +it* t*at is a tr%sted orac'e serice. 5e can sa&8 DO18 rat*er t*an *ae me8 or t*e
editor and c*ie: or +*oeer is doin) t*at at t*e time8 contro' t*e iss%ance o: LTBcoin.D
Instead8 it's )oin) accordin) to t*is sc*ed%'e8 and +eJre partnered +it* Cr&ptocorp. To
proide 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 address
s*o%'d ,e *and'ed3D I: somet*in) *appens t*at doesn't comp'&8 t*e& sa& DNo8 &o% can't do
t*at3D. 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 *ae. So i:
Cr&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+n
interna' r%'es. T*at's +*at I +ant to do8 I'm tr&in) to create t*ese s&stems +*ere +e can
o:: 'oad as m%c* o: t*e responsi,i'it& :rom me8 as possi,'e. Beca%se as I'e said in a
co%p'e o: t*ese t*reads. #ain) 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 *ae an& interest in t*at. Kran1'&8
it :%rt*er m%dd&'s t*e pro9ect +*en it doesn't need t*e mone&.
-B: Nice.
-: One o: m& C%estions I *ae is t*e initia' a'%in) or pricin) o: t*ese coins. Is t*ere an
e/c*an)e or somet*in) t*at's ,ein) set %p :or t*ese metacoins3 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&
mar1et3
ABL: ;n'i1e most coins8 +e are not )oin) to ,e se''in) an& o: t*ese. $ost o: t*e
metacoins t*at are comin) o%t are ,ein) do+n :or :%ndraisin) p%rposes ,asica''&. I 1inda
ie+ t*is as a reerse :%ndraiser t*o%)*. 5e are essentia''& pa&in) peop'e ,e:ore it is
a'%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 C%estion. I )ot 'ost.
-: Somet*in) needs to *ae some sort o: a'%e in someone's *ead :or someone to sa&8
D#e&8 I'm )oin) to )ie &o% A coin or AI coins or .L 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 LA mi''ion %nits8 I'm prett& s%re ri)*t no+ t*at t*e
tota' is )oin) to ,e LA mi''ion. (istri,%ted oer :ie &ears. T*e idea ,ein) een t*o%)* in
practice it doesn'tJt matter +*et*er or not &o%r ta'1in) a,o%t somet*in) t*at *as L.A
mi''ion or LA mi''ion8 in rea'it& peop'e are more )enero%s +*en t*e& *ae 'ar)e n%merica'
C%antities o: t*in)s. I t*in1 t*e (o)ecoin *as done a )ood 9o, o: s*o+in) t*at t*at's rea''&
a t*in).
-: B%t8 een (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 C%estion8 and t*e ans+er to &o%r C%estion is &es.
5e are ta'1in) +it* Cr&pts&8 and +e are ta'1ed +it* Bi) Bern. I spo1e +it* *im a,o%t
t*at. #e +ants to ta'1 +it* t*e Co%nterpart& des 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*is8
rat*er t*an 'istin) coins t*at are 9%st some ot*er random c'one o: somet*in)8 t*at *as a
comm%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''& *ae a
decentra'i0ed e/c*an)e :rom min%te A. 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* Bitcoin
and t*en )et ,ac1 LTB as somet*in) direct'&. 5it*o%t *ain) to re)ister on an&t*in) or
)o t*ro%)* an&t*in). It's a PHP e/c*an)e.
-: 5o+.
44444444444444444444444444444444444444444Adertisement4444444444444444444444444444444444444
T*is is C*ris -osep*8 ,rin)in) &o% Ne+s Mone N/t. T*e :irst tr%e second )eneration
cr&ptoc%rrenc& :or $arc* ANt*8 HIAO. I: &o% *aen't ta1en t*e ne+ +e,c'ient or t*e N/t
assets 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/t
test net8 +*ere &o% can a'so p'a& +it* t*e decentra'i0ed asset e/c*an)e. Post a reC%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*. <o% can iss%e and trade assets toda& in a ne/t )eneration +e,4,ased c'ient. .%nnin)
on a :ast8 'i)*t+ei)*t Proo: o: Sta1e ,'oc1c*ain. Kor more )enera' in:ormation on N/t8
*ead to N/tcr&pto.or) or m&n/t.or) and sta& t%ned :or more ne+s on N/t on t*e ne/t
Let's Ta'1 Bitcoin7 ,roadcast.
44444444444444444444444444444444End Adertisement 4444444444444444444444444444444444444444
$: 5e *ae some more C%estions :rom t*e <o%t%,e c*anne'.
ABL: ;* *%*.
$: T*is is a C%estion :rom one o: t*e %sers8 D#o+ do &o% distri,%te it amon) t*e content
creators3 #o+ do &o% meas%re it3D
ABL: I'm +or1in) on anot*er pro9ect ri)*t no+8 t*at K&'e :rom Cointa'1 and I *ae ,een
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
pro9ect ca''ed BitSp'it. Nic18 +*o's dee'opin) t*e ne+ LTB +e,site8 is a'so +or1in) on
t*at. 5e 9%st )ot a protot&pe +or1in) t*at 'ets &o% sa&8 D#ere's t*is address is :or Adam. It
*as AIE t*at's )oin) to )o to it. T*is address is :or $att8 it's *as ALE t*at's )oin) to )o to
it.D. <o% can ,asica''& set %p ar,itrar& percenta)es o: *o+ a )ien pa&ment s*o%'d ,e
sp'it. T*en it creates an address :rom t*at8 t*at ro%tes t*e a'%e to a'' t*ose di::erent
addresses eer& time a'%e is )ien to t*at address. T*at is +*at +e are )oin) to ,e doin).
Eac* s*o+ t*at's s%,mitted an address t*at's )oin) to ,e s%,mitted +it* it8 t*at +i'' *ae
a'' t*e content creators +*o *ae contri,%ted +it*in8 ,%i't into t*at address. T*en +*en
+e pa& t*at one8 it +i'' pa& o%t to eer&,od&. Is c%rrent'& t*e t*o%)*t.Ot*er+ise its )oin)
to *ae to ,e some sort o: macro.
$: So +i'' eer& c*anne' or eer& s*o+ *ae t*e same a'%e added in t*at distri,%tion
mode'3 Or +i'' it depend on *o+ man& ie+s t*at s*o+ is p%''in) into t*e net+or13
ABL: 5e *aen't ta'1ed a,o%t t*e metrics :or incentii0ed st%:: &et. .i)*t no+ t*ere are
t+o mode's :or content creators. Act%a''&8 'et me ,ac1 %p rea' C%ic1. Kirst t*in)8 t*e LTB
net+or1 is on'& )oin) to do distri,%tion o: t*e c%rrenc& to s*o+s and ,'o)s. T*at means
t*at i: &o% +rite an artic'e8 &o%r not act%a''& )oin) to )et paid ,& me. I: &o% +rite an
artic'e and t*e artic'e )ets pic1ed %p on t*e LTB ,'o)8 &o%''' )et paid ,& t*e person8 in
LTBcoin8 ,& t*e person +*oso r%nnin) t*e LTBcoin ,'o) and +*o decided &o%r piece
+as a )ood one to r%n. T*e +a& t*at t*at +i'' *appen is :irst o::8 t*ere +i'' ,e a mar1et
:or content is sensationa''& is +*at +e're creatin). 5*ere i: &o% create a piece o: content
&o%''' sa&8 DT*is is t*e price I +o%'d 'i1e :or it. T*is is *o+ 'on) a:ter someone commits
to it I +ant to +ait and see i: an&one e'se is )oin) to ma1e me a ,etter o::er.D <o% co%'d
sa&8 DI'm )oin) to c*ar)e AII LTBcoins :or t*is piece o: content :or +*oeer +ants it.D
and t*en +ait P *o%rs a:ter t*at. I: some,od& comes a'on) a:ter t*at8 t*e& can ma1e a
*i)*er ,id8 t*en t*at essentia''& )ies t*em t*e ri)*ts. 5*at +e +ant to *ae it t*e a,i'it&
:or eer&t*in) to ,e :i/ed price8 ,%t a'so *ae t*e a,i'it& to ,e competitie'& ,id %pon in
LTBcoin i: it's somet*in) t*at more t*an one person +ants. 5e''' +ant t*e mar1et
+*ereer possi,'e to a'%e t*ese t*in)s. $att8 remind me o: +*at t*e act%a' C%estion +as8
,eca%se I 1no+ I +ent o:: on a tan)ent t*ere.
$: !$att 'a%)*s" It's so eas& to do. #o+ do &o% distri,%te it amon)st content creators8
*o+ do +e meas%re t*at distri,%tion3
ABL: .i)*t8 t*ere are t+o t&pes o: meas%rements +e are doin) :or t*is. One is ca''ed
Proo: o: =%a'it&8 and Proo: o: =%a'it& means &o%'e ,een p%,'is*ed. I: &o%r piece o:
content *as ,een p%,'is*ed on t*e LTB net+or1 t*en &o% s*o%'d ,e )ettin) a part o: t*at
content distri,%tion. I: t*ere are AI pieces o: content re'eased oer t*e co%rse o: a +ee18
+*ic* is pro,a,'& t*e time period t*at +e''' ,e doin) t*is in8 eer& +ee18 +e''' do t*e
pa&ment c&c'e.
$: .ea' C%ic18 one o: t*e pressin) C%estions t*e comm%nit& *as is8 *o+ are t*e
percenta)es )oin) to ,e assi)ned3 I 1no+ +e'e 1inda ta'1ed a,o%t t*is8 and t*ere's sti''
1inda 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 creation
more in t*e LI4PIE ran)e. Some +*ere in t*e 3I4OIE ran)e +i'' )o to t*e a%dience.
T*en some +*ere in t*e AI4ALE ran)e is )oin) to +ind %p )oin) to t*e p'at:orm and is
)oin) to pa& :or core ro''s. 5e *ae to *ae a CKO 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 and
t*en +*ateer's 'e:t oer :rom t*at is )oin) to )o to ,o%nties :or improin) t*e p'at:orm
and 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 ma9orit& o: o%r reso%rces at o%r pro,'ems +e
act%a''& +ant to incentii0e t*e so'%tion to. 5*ic* in t*is case *o+ to eC%ita,'& create
content and inest peop'e in t*e s%ccess o: t*at content moin) :or+ard. T*e reason +e're
not doin) somet*in) 'i1e LTBcoin +it* 9%st t*e Let's Ta'1 Bitcoin s*o+ is ,eca%se +*at
i: +e *ae a ,ad +ee13 5*at i: +e *ae a ,ad mont*3 T*en t*e +*o'e c%rrenc& is re'iant
on o%r contin%ed s%ccess +*ere as t*e more &o% can spread it o%t amon)st di::erent
t*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) eens o%t. <o% )et t*ese nice s&ner)ies at times
too. So t*en a)ain8 +e're ta'1in) a,o%t t*ese decentra'i0ed t*in)s8 ,%t +ere tr&in) to
create a s&stem to )et ,i) +it*in a centra'i0ed +a&. T*at *ard.
$: <es. O18 so ne/t C%estion. I'm 9%st )oin) to )o a*ead and capt%re eer&,od&'s
C%estions. An&,od& in t*e 2oo)'e *an) o%t +*o *as a C%estion8 p'ease add &o%r C%estion
to t*e c*at 'o)8 and I'm )oin) to ,e p%''in) C%estions :rom <o%t%,e oer. T*e ne/t
C%estion is8 is t*ere a +a''et3
ABL: T*e +a''et is ,asica''& +*at +e're +aitin) on ri)*t no+. Co%nterpart& is c%rrent'&
in a testin) p*ase. T*ere's a m%'ti+a''et8 it's a +e, +a''et. <o% can )o to co%nterpart&.co
$: It's act%a''& a ,ea%ti:%''& desi)ned +a''et8 )ien *o+ ear'& it is in its sta)e.
ABL: One o: t*e adanta)es o: %sin) somet*in) 'i1e Co%nterpart& is t*at ,eca%se it is
,%i't on t*e Bitcoin protoco'. T*ese m%'ti+a''ets essentia''& +i'' 'et &o% *ae Bitcoin8
FCP +it* is t*e natie c%rrenc& o: Co%nterpart&8 t*en LTBcoin as +e'' as an& ot*er %ser
created asset 'i1e LTBcoin t*at is created on to po: Co%nterpart&. T*ese m%'ti+a''ets ri)*t
no+ are 9%st one p'at:orm. <o% can't )et $astercoin assets onto t*ese +a''ets. T*at is a
pro,'em t*at I t*in1 is )oin) to ,e so'ed :air'& C%ic1'& I t*in1. I t*in1 t*at a'' o: t*ese8
een t*o%)* t*e& tec*nica''& aren't compati,'e8 are )oin) to ,e into'era,'& soon. T*e
+a''ets +i'' ,ecome m%c* easier. T*is t*in) +*ere eer&t*in) *as its o+n satos*is c'ient
is not )oin) to 'ast :or een anot*er co%p'e mont*s.
$L: .%e,en as1s8 D #o+ does Adam ima)ine t*e :irst a'%e +i'' ,e created :or
LTBcoin3D. 5*at +e're )oin) to start o:: +it*8 t*e :irst t*in) &o%r )oin) to ,e a,'e to %se
LTBcoin :or is +e're )oin) to *ae mont*'& to start. T*en t*ere are )oin) to ,e more
:reC%ent a%ctions o: sponsors*ip to1ens ,asica''&. T*at +i'' represent 3I second :or one
mont*8 on one s*o+. 5e are )oin) to se'' a tota' o: :o%r o: t*ose :or LTBcoin. T*e&''' ,e
a%ctioned o:: to essentia''& t*e *i)*est ,idder. Basica''& +e're )oin) to ta1e an& sort o:
sponsors t*at +ant to participate in t*is8 een i: t*e& are 9%st indiid%a's. So 'on) as t*e&
comp'& +it* t*e net+or1 standards :or sponsors. 5*ic* means it can't ,e i''e)a' st%::8
can't ,e somet*in) +e t*in1 is a ,ad prod%ct .T*e standards o: t*e sponsors t*at +e a''o+
on t*e LTB net+or1 are act%a''& :air'& strict. B%t I t*in1 ,& openin) it %p to t*e peop'e
+*o are indiid%a's and ma1in) more a,o%t patrona)e t*an a,o%t sponsors*ip. T*at's
rea''& t*e direction I$ interested in )oin) +it* t*is. Especia''& initia''&8 I t*in1 t*at
initia''& 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 *ae
an intention +it* t*e LTBcoins t*at I earn :rom Let's Ta'1 Bitcoin7 T*at I earn. I'm
intendin) to ,%& some sponsors*ips on ot*er s*o+s.
$: Adam8 ma&,e &o% can 9%mp in on +*at t*e :irst +ee1 o: distri,%tion is )oin) to 'oo1
'i1e. 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 9oin t*e conersation a,o%t it8 I rea''&
do enco%ra)e &o% to oer on t*e LTB.com :or%ms and )et ino'ed. I'm 'i1e t*e c*ie:
ean)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&
pro9ect 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*at
eer&,od& *as to ,e rea''& conscience t*at i: &o% +ant to ,e ino'ed t*ere are
meanin):%' re+ards :or &o% ,ein) ino'ed in t*is. 5*en +e s%cceed it's )oin) to ,e
eer&,od& and not me. T*at's t*e di::erent t*in) a,o%t t*is compared to t*e pro9ects I'e
,een +or1in) on to t*is point.
$: 5e are satos*i.
ABL: <ea*8 E/act'&.
$: (o &o% +ant to die into t*e ne/t C%estion3 I t*o%)*t Scott *ad a rea''& )ood
C%estion8 D5e'e see in t*e +or'd o: Bitcoin and ne+s c&c'e ,ein) re'atie'& C%ic18 *o+
do &o% anticipate so'in) t*is pro,'em +it* LTBcoin or is t*e )enre o: content &o%r
descri,in) not app'ica,'e3
ABL: Time'& content is important. I t*in1 +*at's is )oin) to *appen is +e're )oin) to
*ae a co%p'e o: 'a&ers o: :i'terin). T*e :i'terin) is most'& )oin) to ,e a:ter p%,'ications.
Be:ore p%,'ication it's )oin) to ,e 'i1e I mentioned8 t*ere's not 9%st )oin) to ,e one ,'o)
on LTB. Instead it's )oin) to ,e 'ot's and 'ot's o: di::erent peop'e r%nnin) c%rated ,'o)s
t*at are eac* ,randed +it* t*eir o+n ,randin). T*e& +i'' a'' *ae 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 receie a
portion o: t*ese LTBcoins t*at t*en 'ets t*em )et more content to create t*is irt%o%s
c&c'e. T*e :irst 'ee' is t*ose peop'e pic1in) stories. I: t*e& see a stor& t*at's *ot8 c*ances
are 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. I
1inda 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 )ie peop'e t*e a,i'it& to ma1e eer&t*in) an
a%ction8 ,%t I don't +ant to reC%ire t*at eer&,od& to +ait HO *o%rs. I +ant to )ie t*em
t*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 HO *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 set
o: r%'es *ere and t*en peop'e are )oin) to c*oose speci:ics t*at +or1 :or t*eir partic%'ar
sit%ation.
$: Cameron 2ra&8 D 5*at *appens a:ter :ie &ears8 +i'' t*e net+or1ed *ope to ,e
,ootstrapped +*en t*e mar1et sat%rates3D
ABL: <es8 I'm ie+in) t*e ,ootstrap period rea''& as 3 &ears. I t*in1 +e +i'' 1no+ i:
+e're )oin) to ,e s%ccess:%' +it* t*is ,& t*e end o: t*e :irst &ear. I t*in1 t*at it s*o%'d ,e
prett& o,io%s. T*e )ood ne+s is t*at +e can on'& :ai'. !A'' 'a%)*" -%st 'i1e 99E o: ot*er
net+or1s o%t t*ere. I'm act%a''& o1 +it* t*at. I t*in1 t*at t*is is a more important
innoation. T*e mode' t*at +e're ta'1in) a,o%t *ere8 +*ere &o% can ta1e t*is and
,ootstrap an&t*in) is so m%c* more important in concept. I'm :i/ated on content ,eca%se8
t*at's +*ere I 'ie. It's rea''& important. I ie+ +*at +e're doin) *ere is ,'a0in) t*e trai'8
,ein) t*e pat*:inders and a'' t*at 9a00. 5e )et to scre+ %p8 and i: o%r *air catc*es on :ire
t*at's o1 ,eca%se t*en ot*er peop'e +ont do t*e same t*in) t*at +e did. It's a )iant
e/periment8 as 'on) as peop'e )o into t*is 1no+in) its a )iant e/periment. T*at's +*& I'm
1inda dod)in) C%estions 'i1e8 +*at do &o% t*in1 it''' ,e +ort* at t*e ,e)innin). I *ae no
idea8 It +ont ,e +ort* an&t*in) at t*e ,e)innin). I )%ess t*at's t*e ans+er8 t*at +e're
)oin) to prod%ce8 in t*e :irst +ee1 o: distri,%tion8 t*ere are )oin) to ,e a mi''ion coins
o%t t*ere o: t*e LA mi''ion t*at +i'' eer ,e created. T*ose coins are )oin) to ,e
distri,%ted8 *a': o: t*ose coins are )oin) to )o to t*e comm%nit& t*at is re)istered on
LTBcoin.com and *a': o: t*em are )oin) to )o to peop'e t*at *ae created t*e content t*at
*as ,ro%)*t LTB to t*e p'ace t*at +e are no+. T*at's somet*in) e'se I *ae to do. I: &o%r
interested in )oin) ,ac1 t*ro%)* eer& post +e'e eer made on LTB8 :i)%rin) o%t +*o
t*e a%t*or is and :i)%rin) o%t *o+ m%c* peop'e proided :rom eac* o: t*e indiid%a'
t*in)s. 5e co%'d ,ac1 pa& eer&,od& :rom t*is LIE. Inest eer&,od& +*o's eer *ad
an&t*in) to do +it* LTB. It +o%'d pro,a,'& ,e a )ood t*in). I 1eep )oin) ,ac1 and :ort*
on *o+ m%c* +e s*o%'d ,e 'oo1in) ,ac1 or i: +e s*o%'d 9%st sa&8 o1 c'ean start ri)*t *ere
moin) :or+ard t*is is +*at +e're doin). So I don't 1no+. -o*n8 t*is is a C%estion t*at is
more app'ica,'e to &o% t*an an&,od& e'se *ere. <o% )%&s *ae ,een doin) t*is s*o+ :or
t+o mont*s. (o &o% t*in1 it's ,etter i: +e ,ac1 pa& eer&,od& :or t*e 'ast 9 mont*s
+*ere &o% )%&s +o%'d ,e ,ac1 paid :or a mont* +ort* o: materia' to P +ee1s +ort* o:
materia'3 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 Li9 and I are prett& eas&
)oin) +*en it comes to t*at. Beca%se +e're tr%e ,e'ieers in LTB and Adam B. Leine. I
mean t*at sincere'&. It's *ard to sa&. I t*in1 &o% co%'d t*ro+ eer&,od& a 'itt'e ,one ,%t
not )o a'' t*e +a& ,ac1. (o a 'itt'e o: t*at sa& *e& +e're )'ad &o%'e ,een +it* %s :rom
t*e ,e)innin). Not :rom t*e ,e)innin) o,io%s'&8 ,%t :rom t*e time t*at &o%'e ,een
t*ere8 +e're )oin) to )ie &o% a 'itt'e somet*in). B%t I t*in1 peop'e +*o are interested in
doin) t*is 'i1e Li9 and I are8 :or Bitcoin and 2ra&. 5e're interested :or a ariet& o:
reasons. T*is 9%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 9%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 *ae on t*is pro9ect is t*at I
:ee' 'i1e I set e/pectations. Beca%se +e +e're rea''& s%ccess:%' in -an%ar&8 Noem,er and
(ecem,er +it* LTB 5*en t*e price +as +a& %p. Eer&,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 P ne+ s*o+s and
*ae anot*er L in t*e +in). S%dden'& eer&t*in) is )ettin) a 'itt'e ,it ti)*ter. $& primar&
concern is I 9%st +ant to ma1e s%re peop'e aren't :ee' 'i1e +e mis'ead t*em. Beca%se t*is
is +*ere I t*in1 +e're )oin) to rea''& ma1e t*e di::erence in t*e medi%m term.
-: Co%'d I 9%mp in and as1 a C%estion3 5*at's t*e di::erence ,et+een t*is and a stoc13
Ca''in) eer&t*in) a coin can )et con:%sin)8 t*ere's e/c*an)es ca''ed T*isCoin and t*ese
coins. Is t*is not rea''& more o: an IPO more o: a p%,'ic o::erin)3
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 )iin) t*em a+a&. So t*is is
more 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. Or
t*e& can c*oose to se'' it to some,od& +*o a'%es it in a +a& t*e& appreciate. It *as none
o: 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 Ba%'t*a''o+8 +e
co%'d t*en as +e're ,%i'din) +e co%'d sa&8 D#e&8 +e *ae t*ese premined or a ,%nc* o:
t*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 :or
t*e p%,'ic 'ed)er and &o% )et LIE or AIE or AE or +*ateer it is. Een 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 pro9ects I'm +or1in) on no+ are ,%i't aro%nd t*is concept. I comp'ete'&
a)ree +it* &o%. T*e di::erence 9%st is t*at in o%r partic%'ar case it rea''& doesn't 'oo1 'i1e
stoc1. In &o%r case +*ere &o%r ta'1in) a,o%t a start%p. A)ain I *ae ot*er pro9ects +*ere
I'e ,een ino'ed in +*ere t*e& rea''& are more 'i1e start%ps and its ,ein) %sed instead
o: eC%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 9%st ,eca%se :rom a 'e)a' stand point it 'oo1s 'i1e it's prett& simp'e. (on't conert
t*em into do''ars and its 9%st a to1en.
-: It +o%'d )et aro%nd a +*o'e 'ot o: 'e)a' m%m,o49%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 enision t*is t*in) 'i1e a mac*ine8 &o%'re ,asica''& addin) to1ens into
di::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: :ie &ears +e :i)%red o%t t*e +a&s and means o: ,ein) a,'e to
contin%o%s'& distri,%te +it* in t*e s&stem t*at ,ene:its eer&,od& and 1eeps t*is en)ine
spinnin) and )ro+in).
444444444444444444444444444444444Adertisement444444444444444444444444444444444444
Cr&pto Kit is t*e +or'ds :irst C*rome ,ro+ser Bitcoin +a''et. It's t*e easiest8 :astest
Bitcoin +a''et pa&ment s&stem. 5it* a simp'e one c'ic1 insta''8 it ta1es 9%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's
no more :%ssin) aro%nd or ta, s+itc*in). Cr&pto Kit is more t*an 9%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. Kina''&8 Cr&pto 1it director& a''o+s &o% to ma1e t+o
c'ic1 pa&ments +it* an& o: t*e Bitpa& merc*ants. Once &o% initia' Cr&pto Kit &o% +ont
need an&t*in) e'se. Kor more in:ormation or to do+n'oad Cr&pto Kit isit Cr&ptoKit.com
4444444444444444444444444444444Second adertisement44444444444444444444444444444444444444444
T*e Bit 2ie Ko%ndation is a non4pro:it c*arita,'e )iin) or)ani0ation. Leera)in) t*e
po+er o: t*e Bitcoin comm%nit& to improe p%,'ic *ea't* and t*e enironment
+or'd+ide. #e'p %s demonstrate t*e si)ni:icant impact o: ,itcoin in addressin) t*ese
critica' iss%es on a )'o,a' sca'e. S%pport internationa' )iin) in ,itcoin. P'ease isit o%r
+e,site at +++.,it)ie:o%ndation.or) t*at's +++.,it)ie:o%ndation.or)
4444444444444444444444444444End adertisement44444444444444444444444444444
$: Ne/t C%estion.
ABL: It seems Actie'& (isen)a)ed8 D#o+ does someone ,ecome on o: t*e ,'o))ers on
t*e LTB net+or13D 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 indiid%a' artic'e8 on a ,'o)8 is not rea''& 'i1e a
s*o+. A ,'o) itse': is act%a''& C%ite 'i1e a s*o+. It *as contin%it& o: ,randin). Essentia''&
+*at I do +it* Let's Ta'1 Bitcoin7 is I c%rate. I'm on ma&,e LIE o: t*e content8 ,%t I
introd%ce a'' o: it. I proide 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 as
man& 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 *ae a contest. I *aen't
rea''& )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 stoc1s3 Co%'dn't &o% 9%st se'' s*ares3
ABL: <es +e co%'d se'' s*ares8 ,%t I don't 1no+ i: t*at's 'e)a'. 5e're a Ca'i:ornia ,ased
compan& and I don't rea''& +ant to temp :ate. Beca%se a 'ot o: times een i: +*at &o%'re
doin) is 'e)a'8 i: it's not +e'' %nderstood t*at can 1inda ,e t*e same t*in).
$: (o &o% p%rc*ase a piece o: content %sin) LTBcoin3 (o &o% )et e/c'%siit&3 #o+ +i''
&o% c*ec1 :or t*is3
ABL: T*e e/c'%siit& C%estion is interestin). 5e're not as1in) :or e/c'%siit& on rea''&
an& t*in). 5*at +e +i'' ,e en:orcin) t*o%)*8 is e/c'%siit& in t*e net+or1s. Kor e/amp'e8
i: a piece o: content is p%rc*ased :or one ,'o)8 and t*e dea' doesn't speci:& t*at it's not
e/c'%sie...a)ain I don't +ant to ma1e an& *ard and :ast r%'es *ere. I ass%me most ,'o)s
are )oin) to +ant e/c'%sie content8 rat*er t*an not. 5e +i'' ,e a,'e to en:orce +it*in t*e
net+or1. T*is piece o: content +as p%,'is*ed *ere8 so t*ere:ore it doesn't C%a'i:& :or
proo: o: p%,'is*in) pa&ments an&+*ere e'se on t*e net+or1. I see t*ere's anot*er
C%estion t*ere8 D I: someone +ants to ,ecome a content creator on t*e net+or18 +*at
s*o%'d t*e& ,e doin) ri)*t no+3D T*at is act%a''& is a )ood C%estion. <o% s*o%'d ,e
t*in1in) a,o%t +*at 1inds o: content &o%'d +ant to create. I mentioned t*is ,e:ore8 +e
*ae a rate card t*at is ca''ed Proo: o: P%,'is*in). T*at ta'1s a,o%t t*e ario%s point
a''ocation. T*at eac* t&pe o: piece o: content )enerates :or t*e team t*at creates it. T*is is
a s&stem I'm ca''in) A%tonomic content teams. Se': :ormin) content teams.
$: 5e +ant to ma1e it as eas& as possi,'e :or peop'e to )enerate content +it*in t*e
net+or18 t*at's distri,%ted a'so +it*in t*e net+or1. Correct3 T*at's +*ere &o%r )oin) +it*
1inda t*e a%tonomo%s content teams3 $a&,e &o% can disc%ss t*at ,asic idea8 ,eca%se
peop'e are 1inda ne+ to t*at term.
ABL: <ea*8 t*e 'on) and t*e s*ort o: it is t*at I don't +ant to ma1e an& r%'es. .at*er I
don't +ant to ma1e an& s%,9ectie r%'es. I +ant to ma1e r%'es +*ere +e can sa& o1 t*ese
are t*e ,road standards to comp'& +it*. So 'i1e I said8 &o%''' s%,mit a LI min%te a%dio
s*o+ or a ,'o) t*at p%,'is*es at 'east one artic'e per +ee1. T*ose +i'' ,e t*e minim%ms
in order to create t*is 1ind o: p'at:orm. Or s%,p'at:orm on top o: o%r p'at:orm. Krom
t*at... 2os* I 1eep )ettin) 'ost in m& e/p'anation8 and I 1no+ no,od& e'se is )oin) to
:o''o+ it i: I'm a'read& )ettin) 'ost. Lets moe 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 *ae 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 C%estion Adam. Ot*er t*an earnin) LTBcoin :or content8 'ets sa& someone
9%st +ants to *ae 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& en9o& 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 eer. Lets sa& t*at person is not8 ,& p%ttin) t*ose o%t t*ere8
earnin) LTBcoin. Is t*ere incentie t*at at some point a ,'o) +o%'d pic1 t*em %p3 Or is it
:air to sa& t*at some o: t*eir incentie is 9%st *ain) a p'at:orm to a''o+ peop'e in t*e
Bitcoin comm%nit& to ,e a,'e to *ear or read t*eir poems and s*ort stories3
ABL: I t*in1 t*at t*ere de:inite'& is an adanta)e to *ain) a centra'i0ed a%dience. T*is is
somet*in) I :i)%red o%t :air'& ear'& on8 is t*at it's a'+a&s ,etter to *ae a +e,site t*at *as
Q %pdates a +ee1 rat*er t*an a +e,site t*at *as A %pdate a +ee1. Peop'e don't ma1e
+e,sites t*at *ae A %pdate a +ee1 a part o: t*eir sc*ed%'e. It's er& di::ic%'t to ,ecome a
part o: peop'es 'ies. 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's
t*at side o: it. <o% said8 a co%p'e o: t*in)s. Kirst o:: I'm not sa&in) in an&+a& t*at poetr&
or son)s or an&t*in) 'i1e t*at don't :it +it*in +*at +e're doin). I t*in1 t*e& do8 ,%t t*en
a)ain8 t*ere +i'' ,e a ,'o) t*at +i'' ,e t*e poetr& ,'o). Or &o%''' *ae a ,%nc* o: t*em8 as
man& as peop'e +ant to c%rate t*at. <o%''' *ae a ,'o) t*at's a,o%t son)s or somet*in)
'i1e t*at. Or a s*o+ t*at isn't rea''& in:ormationa' at a''8 it's so%ndscapes and son)s and
t*in)s 'i1e t*at. I t*in1 t*at creatie'& t*ere are a 'ot o: options. T*e :ina' point +as8
+o%'d a ,'o))er een accept t*is een i: t*e& aren't earnin) it :rom LTB3 T*e same co%'d
,e said a,o%t Bitcoin. T*e&'re not earnin) ,itcoin :rom +ritin) most o: t*e time8 or :rom
doin) a son) most o: t*e time8 ,%t t*e& accept tips in it. Is it ,eca%se Bitcoin is so
ama0in)3 No. It's ,eca%se Bitcoin is a'%a,'e. Tips are mone& t*at &o% didn't *ae ,e:ore8
t*at's a )od t*in). I ie+ LTB as t*e same t*in). I t*in1 t*at it +i'' *ae a a'%e and t*e
mar1et +i'' :i)%re it o%t prett& C%ic1. It mi)*t ,e a 'o+ a'%e8 ,eca%se t*ere's )oin) to ,e
a 'ot o: %nits at :irst. T*at a'%e 9%st means t*at +*en peop'e tip8 t*e&'re )oin) to :ee' t*at
m%c* ,etter +it* tippin) a t*o%sand LTB ,eca%se it's +ort* a do''ar. Peop'e do t*at8 a)ain
+e'e seen t*is +it* (o)e. I t*in1 t*at's t*e 'esson to 'earn.
-B: <ea*8 nice8 t*an1s.
$: So8 ne/t C%estion.
-: Adam. 5e +ere disc%ssin) t*e possi,i'ities o: *ain) a 1ind o: mar1et :or content
+*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*en
t*e ACPs co%'d pic1 :rom t*ere3 Adam3
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*e
ra,,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% *ae t*e a,i'ities :or comm%nities to do
sortin) and c%ratin) t*emse'es ,& %potes and do+notes. B%t t*e t*in) I don't 'i1e
a,o%t .eddit is t*at peop'e 9%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+noted ,eca%se peop'e don't een ,ot*er to 'oo1 at it and
do+note st%::. T*ere are a ariet& o: reasons +*& 9%st a''o+in) random %ser acco%nts to
ote on st%:: and *ae 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 o1
to spend somet*in)'s t*at not +ort* er& m%c*. It ,ecomes eas& :or %s to ,ecome t*e :irst
'ee' o: moderation. To *ae peop'e post eit*er ideas or t*e act%a' piece o: content ,e:ore
it )ets p%,'is*ed some+*ere8 in t*at mar1et p'ace. T*en peop'e +*o are interested in t*e
content8 ,%t are not necessari'& in t*e mar1et to p%,'is* it on a ,'o) can sa&8D<ea*8 t*is
'oo1s )ood. I +o%'d 'i1e to see t*is posted some+*ere8 I +o%'d 'i1e to see t*is )et
e/pos%re some+*ere.D So t*e& t*en ote it %p and t*en a:ter ma&,e &o% )et H or 3 :ree
otes %ps per da& or somet*in) 'i1e t*at. T*en a:ter t*at i: &o% +ant to ote somet*in) %p
'i1e t*at8 t*en &o% tip it. <o% send A LTB to it8 or &o% send *o+eer man& LTB to it t*at
&o% +ant. T*ose LTB )et passed t*ro%)* to t*e person +*o created t*e content. T*en
peop'e +*o are moderatin) t*ese ,'o)s or moderatin) t*ese s*o+s8 *ae t*e a,i'it& to
'oo1 at t*is 'ist and sa&8 DO* +e'' t*ere's one t*at a +*o'e ,%nc* o: peop'e a'read& 'i1ed.
It *asn't ,een p%,'is*ed8 so it ma1es more sense :or me to )et t*at one. Beca%se I 1no+
t*at t*e comm%nit& )oin) to *ae a )ood response.D B%t at t*e same time8 ,%t ,eca%se o:
t*at8 t*e price mi)*t ,e *i)*er. T*e price :or t*at piece o: content mi)*t ,e *i)*er. I: +e
+e're ta'1in) a,o%t a mar1et +*ere &o%'re tr&in) to a,so'%te'& ma/imi0e &o%r e::icienc&8
and can sere as m%c* as possi,'e8 t*is mi)*t not +or1. B%t8 I don't t*in1 t*at's t*e
enironment +e're )oin) into. I t*in1 t*at content creators are )oin) to are )oin) to *ae
a 'ot o: s%rp'%s. It's )oin) to ma1e more sense to *ae a ,etter s*o+ t*at ta1es 'ess +or1
:rom &o%r part and is *i)*er C%a'it& oera''. 5*ic* adds more a'%e to t*e net+or18 +*en
&o% contro' some o: t*e ot*ers coins8 t*an it does to not spend an& :%nds. I t*in1 Pa%'
Bo&er +*ose on t*e ca'' :rom $ad $one& $ac*ine8 *e's pro,a,'& )oin) to 1eep a 'ot
more 9%st ,eca%se *e does a so'o s*o+. #e does a'' *is editin) *imse':8 *e doesn't rea''&
*ae interie+ers or an&t*in) 'i1e t*at. T*at's tota''& *im. B%t I t*in1 t*ere are a 'ot o:
ot*er s*o+s t*at are )oin) to spend LIE on content t*at comes :rom o%tside. Beca%se
a)ain8 i: &o% do t*at &o% can pro,a,'& )et some prett& )ood content. <o% co%'d pro,a,'&
%p t*e C%a'it& o: &o%r s*o+ +it*o%t act%a''& *ain) to do more +or1 &o%rse':. 5*ic* is
C%ite a'%a,'e in m& e/perience. I'e ,een en9o&in) it.
$: I t*in1 &o% *ae to 1inda 'oo1 at LTBcoin as 1ind o: an on )oin) conersation t*at's
in dee'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 'eera)e a
s%ccess:%' prod%ct.
ABL: <es. $att8 I see t*ere is anot*er C%estion *ere t*at sa&s8 DCo%'d &o% prod%ce partia'
content8 e.). t*e ,asis :or a ,'o) post ,%t someone e'se mi)*t contri,%te a'%e t*ro%)*
editin)8 and improin) +ritin)8 etc etc3D <ea*. I t*in1 t*at t*at is )oin) to tota''& *appen.
I t*in1 t*at's rea''& +*at +e're desi)nin). 5e are tr&in) to create too's or connect too's
t*at +i'' 'et peop'e... I *ad a rea''& interestin) e/perience +or1in) +it* C*ar'ie S*rem a
co%p'e o: +ee1s a)o8 on t*e $t2o/ piece t*at +e did. T*at +as somet*in) t*at came
to)et*er in a,o%t 3P *o%rs8 oer a series o: emai's and t*en a co%p'e o: S1&pe ca''s8 and
st%:: 'i1e t*at. It +as a tota' co''a,oration8 and +e prod%ced8 I t*in18 a rea''& )ood piece.
T*ere +ere a,o%t O or L peop'e ino'ed +it* t*e prod%ction o: it. I t*in1 t*at t*at is
)oin) to ,e m%c* more common. Beca%se +e are )oin) to *ae a comm%nit& o: peop'e
+*o are 'oo1in) to do st%:: 'i1e t*at. 5*o +ant to *ae t*at e/perience8 and +*o +ant to
create a'%e in a co''a,oratie :as*ion. 5e *ae a'' t*e too's to ,e a,'e to do it. T*is )ies
%s essentia''& t*e 'iC%idit& to ,e a,'e to sa&8 D.at*er t*an t*is ,ein) some t*in) &o%'re
)oin) to *ae to ,e spec%'atie'& :or si/ mont*s8 9%st do it spec%'atie'& once.D T*en i:
&o% do it once and &o% )et p%,'is*ed8 t*en &o%'re in t*e a''ocation and &o% )et a ,%nc* o:
LTBcoin. 5*ic* t*en )ies &o% t*e a,i'it& to o%tso%rce t*e entire prod%ction to ot*er
peop'e in t*e LTBcoin comm%nit& i: &o% +anted to. I don't 1no+ i: t*at ans+ered &o%r
C%estion8 ,%t t*at's +*at I )ot.
$: <ea*8 I'm p%''in) t*ese C%estions :rom <o%t%,e8 I +i'' do m& ,est to oice +*at I
t*in1 t*eir t*o%)*ts are. I 1inda enision t*e s&stem +or1in) 'i1e &o%r attendin) a
con:erence and ma&,e &o% *ae str%c1 %p a conersation +it* some,od& +*o's ma1in)
some +aes in t*e ind%str&8 and &o% +ant to record t*e content. So &o% record t*e content
and &o% s%,mit t*at to t*e net+or18 and t*en t*e& %se t*at net+or1 and tr& to c%rate it to
:it into s*o+s8 or c*anne's8 or *o+eer +e approac* t*is pro,'em.
ABL: I t*in1 t*at +e +i'' see.
-B: So8 I'e )ot a C%estion Adam. Li9 and I *ae t*e s*o+8 and occasiona''& +e +is* t*at
+e *ad some ,etter content. (o &o% enision t*is as somet*in) +*ere +e''' *ae o%r 'itt'e
stas* o: LTBcoin and +e're 'oo1in) :or some e/tra content. So +e +i'' ,e a,'e to )o to a
'i,rar& o: content t*at's t*ere on LTB and )ra, :rom t*is 'i,rar& an interie+ o: some,od&
or a piece :rom some ma9or ne+spaper t*at +e can read. 5i'' +e ,e a,'e to )ra, and ,%&
in an eas& :as*ion3
ABL: 5it* t*e ne+spaper t*in)8 +*at &o% co%'d do8 is &o% co%'d )ra, pieces o: :inis*ed
content i: &o% +ant ,asica''&. I: &o% +ant to )ra, pieces o: %n:inis*ed content8 it's &o%r
prero)atie. 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 a
recordin) o: me readin) it.D and it's edited. I co%'d see st%:: 'i1e t*at. B%t i: &o% 9%st +ant
to read st%:: o%t o: t*e ne+spaper8 t*en ,& a'' means 9%st read it o%t o: t*e ne+spaper.
<o% don't *ae to pa& an&,od&.
-B: I )%ess +*at I'm )ettin) at is +i'' t*ere ,e a 'i,rar& :or podcasters to c*oose :rom3
ABL: <es. It's 'ess a 'i,rar&. I t*in1 t*ere +i'' ,e t+o t*in)s8 I t*in1 t*ere's )oin) to ,e a
mar1et. T*en t*in)s t*at don't )et p%rc*ased on t*e mar1et +i'' )o in t*e 'i,rar&8 is +*at I
e/pect +i'' *appen. B%t8 ,eca%se +e are doin) t*is e/c'%siit& t*in)8 it means t*at t*ere
isn't rea''& )oin) to ,e a co''ectie 'i,rar& +*ere &o% +i'' ,e a,'e to )o ,ac1 P mont*s.
<o% mi)*t ,e a,'e to do t*at :or c'ips. I +ant to *ae a c'ip 'i,rar&8 I'e ,een ta'1in) a,o%t
t*at :or t*e 'ast mont* or so. I'd rea''& 'i1e to *ae a 'i,rar& o: a'' t*e interie+s +e'e
done and a'' t*e content. So peop'e can )o ,ac1 and )ra, c'ips :rom t*at. T*en &o% can
%se it :or c'ips. B%t :or st%:: t*at &o% +o%'d pa& :or8 I ie+ t*at as more :or serices and
:or ori)ina' ne+ content t*at *as &et to ,e aired.
-B: 2ot it8 o18 t*an1s.
$: Some,od& 9%st as1ed a )reat C%estion. Tomo+%s A*o'a as1s8 DAre +e 'imited to 9%st
Bitcoin cr&ptoc%rrenc& re'ated content3D I t*in1 t*is is somet*in) +e'e ,een addressin)
and tossin) aro%nd in o%r ,rains8 +*ic* met*od is 1inda t*e ,est aen%e to p%rs%e. (o +e
pic1 t*e speci:ic Bitcoin on'& media mar1et3 Or do +e address ot*er media content
proiders iss%es3 $a&,e Adam can die into t*is some more.
ABL: I t*in1 t*at +e are )oin) to8 a)ain I don't 1no+ t*e ans+ers to s*ip8 +e're sti''
:i)%rin) t*is o%t. I t*in1 +*at's )oin) to *appen is t*at +e're )oin) to start o:: +it*
cr&ptoc%rrenc& on'& content. A)ain8 ,eca%se ,eca%se o: t*e +a& t*at +e *ae t*e ,'o)
str%ct%re8 peop'e +i'' ,e a,'e to spin o:: ot*er ,'o)s. Content is8 +e''8 9%st content. I:
t*ere is a demand :or it8 i: peop'e +ant to r%n ,'o)s on t*e LTB net+or1 in t*is :as*ion or
+ant to r%n s*o+s t*at don't con:orm to t*is. I: peop'e +ant to adertise on t*em8 t*at's
act%a''& :ine ,& me. T*e conersation +e'e ,een *ain) interna''& is +*et*er to do t*is
as LTBcoin or 'i1e a Ta'1coin or somet*in) 'i1e t*at. T*at is somet*in) t*at is %nder
consideration. I t*in1 t*at at t*is point +e're p%s*in) :or+ard on LTBcoin8 ,eca%se i:
+e're )oin) to ma1e some mista1es ear'&. T*en it's pro,a,'& ,etter to ma1e t*em on a
sma''er ecos&stem8 and t*en ta1e t*e 'essons +e'e 'earned *ere and e/pand it o%t into a
'ar)er pro9ect. At t*e same time8 +it* cr&ptoc%rrenc&8 +e're startin) a :ie &ear pro9ect
*ere. So it mi)*t ma1e more sense 9%st to start +it* t*e t*in) t*at +e t*in1 +e +ere )oin)
to s+itc* to in si/ mont*s an&+a&. A)ain8 t*ese are on )oin) C%estions.
$: Actie'& *ad a )reat comment8 DI: Andres A%nstopo'i%s c*ar)es :or interie+s8 *e's
)oin) to ,e t*e LTBcoin Bi'' 2ates.D
!A'' La%)*"
ABL: I *ad a )ood conersation +it* Andres a,o%t t*is. I s*o%'d mention t*at so :ar I am
pioneerin) t*is pro9ect8 t*is is a pro9ect I am p%s*in). I'e ,rie:ed Step*anie and Andres
a,o%t it8 and +e'e *ad conersations a,o%t it. T*e& are interested in it8 ,%t eer&,od&
*as a mi''ion pro9ects. I'm t*e )%& +*o is p%s*in) t*is :or+ard8 and t*e& are e/cited
a,o%t )ettin) some o: t*e ,ac1 pa& once +e do t*e da& A distri,%tion.
$: !La%)*s" <ea*8 I t*in1 eer&,od&'s e/cited a,o%t t*at. (oes an&,od& *ae an&
C%estions in t*e 2oo)'e *an)o%t3
A(: #ae &o% eer *eard o: #e'p a .eporter o%t8 *aro.com3
ABL: I'm :ami'iar +it* it.
A(: (o &o% anticipate doin) somet*in) 'i1e t*at to s%r:ace ne+ content creators3 I t*in1
t*at's an interestin) so'%tion.
ABL: T*at's a )ood idea.
A(: On t*e :'ip side8 &o% +ere mentionin) stic1in) +it* LTBcoin. I t*in1 t*at's a smart
moe :or t*e initia' 'a%nc*. Proe &o%r concept8 and I t*in1 t*is sca'e. I t*in1 t*at +e see
a 'ot o: content prod%cers on t*e mainstream side t*in)s8 'i1e C*ica)o S%n Times8 are
'oo1in) :or so'%tions especia''& +it* micro transactions re'atin) to content cons%mptions.
I co%'d see t*is ,ein) somet*in) t*at co%'d ,e 'icensed o%t to ot*er content creators8
p'at:orms8 etc.
ABL: Licensin) is an interestin) +ord. I'm act%a''& c%rio%s :or &o%r t*o%)*ts on t*is
Scott. I'm c'aimin) o+ners*ip to an& o: t*is st%::. 5e're p%ttin) o%t a protoco' *ere8 it's
)oin) to ,e open so%rce. I 1inda :i)%re t*at m& moneti0ation :rom t*at side8 comes :rom
cons%'tin) :or companies 'i1e t*at. I donJt rea''& see a 'icensin) str%ct%re 'i1e t*at.
S.: 5e'' &o% ta1e t*e red *at Lin%/ approac*8 o::er das*,oards8 sca'e it t*at +a& and
ena,'e t*e C*ica)o S%n Times 'i1e8 D#e&8 *ere's seen di::erent means o: ana'&tics8
distri,%tion8 etc.D
ABL: Coo'8 t*at ma1es sense to me. 5e're not ta'1in) a,o%t most o: t*e st%:: +e are
'oo1in) at doin). I'e ,een ta'1in) a,o%t t*is LTBcoin priate'& :or a,o%t t+o mont*s.
I'e *ad a rea''& rea''& positie response. I t*in1 t*at +e're )oin) to start o:: +it* t*e
sponsors*ips ,ein) t*e t*in) t*at &o% can do +it* it8 and t*e tippin) and a'' t*at st%::.
5*at +e are )oin) to moe to+ards is one +ere t*is is a rea''& %se:%' to1en t*at 'ets &o%
do t*in)s t*at &o% can't do +it* Bitcoin in a'' ariet& o: capacities. I t*in1 t*at's +*ere t*e
'on) term a'%e o: t*is comes :rom. One t*in)8 +e are actie'& 'oo1in) :or dee'opers at
t*is point. So8 i: &o% )et ino'ed no+ &o%'re )oin) to ,e part o: t*e LTBcoin entai'
distri,%tion. 5*ic* I said is LIE o: t*e +ee1 A mone& s%pp'& t*at is )oin) to ,e
distri,%ted. B%t8 I don't *ae ,o%nties set %p &et8 I don't *ae a 'ot o: speci:icit& on t*e
pro9ects. 5e're 'oo1in) :or peop'e to *e'p %s :i)%re o%t +*ere +e need to e/pand8 and
+*ere +e need to contin%e to de:ine t*is t*in). $& tas1 oer t*e ne/t +ee18 +*i'e +e )et
read& :or t*e test 'a%nc*8 is to :inis* de:inin) a'' o: t*e r%'es. <o% can :ind 'in1s to a'' o:
t*ose doc%ments as t*e& are c%rrent'& created at t*e LTB.com :or%ms. It's in t*e LTBcoin
ta'1 section entit'ed Dproo: o: p%,'is*in)D. It's a set o: t+o doc%ments and t*ere +i''
pro,a,'& ,e a t*ird doc%ment. <o% can a'so see t*e proposed distri,%tion o: coins in
t*ere. Li1e I said8 it's a +ee1'& distri,%tion8 starts o:: at a,o%t QII8III a +ee18 ,& t*e end
o: &ear 3 it's do+n to %nder a *%ndred t*o%sand per mont*. It's a prett& a))ressie
de:'ationar& trend. A)ain t*e )oa' *ere is to :%rt*er emp*asi0e and re+ard peop'e +*o are
*ere ear'&. Beca%se t*at rea''& +*en it comes to a net+or1 'i1e t*is8 +*en &o%'re startin)
a podcast or a ,'o)8 )ettin) t*at :irst t*o%sand readers or 'isteners is t*e ,arrier. T*en
once &o% )et past t*at8 t*ese t*in)s start :eedin) t*emse'es. 5*at I ie+ +*at +e're
doin) *ere primari'&8 is )iin) eer&,od& t*e a,i'it& to ,ootstrap past t*at *ard part point.
To 9%st start +it* t*e point +*ere &o% can :oc%s on content and not *ae to +orr& a,o%t
an& o: t*e ot*er st%::. So8 )et ino'ed no+. It's a )ood time. #e'p %s de:ine +*at t*e 9o,
s*o%'d ,e. I am de:inite'& )oin) to ,e 'oo1in) :or a CKO8 I'm de:inite'& )oin) to ,e
'oo1in) :or a CTO. T*ere are a ariet& o: ot*er positions t*at are on t*e core
or)ani0ationa' side. Pro,a,'& +e +i'' *ae a COO too. So8 i: &o% +ant to )et ino'ed8
no+'s a rea' )ood time.
-B: Are t*ere )oin) to ,e an& trae'in) tro%,ado%r positions3
ABL: 5*at I +ant to do +it* t*is8 ,eca%se t*is is 1inda 'i1e o%r store or compan& credit8
I +ant to proide a 'ot o: t*ese serices. As +e pic1 %p ot*er sponsors I t*in1 t*at it's a no
,rainier :or %s to partner +it* C*eap Air8 and to tr& and )et C*eap Air to accept LTBcoin
or to at 'east accept it :rom %s interna''& in e/c*an)e :or trae'. 5e +i'' ta1e t*at as a
sponsors*ip and trade 1inda t*in). 5e can rea''& *ae t*ese ,arter re'ations*ips +*ere
LTBcoin can ,ecome a %se:%' t*in) in a ariet& o: capacities. In t*e mean time +*i'e
+e're doin) t*e ,ootstrappin)8 I'd 'i1e to *ae a trae' a)enc& ,asica''& set %p. t*at is
,%i't aro%nd Bitcoin8 ,%t is a'so on ,oard +it* LTBcoin and can ta1e t*at and een )ie it
a pre:erentia' rate. T*e interestin) part is t*at t*e reason peop'e are interested ,road'& in
crossc%rrents t*at aren't Bitcoin8 is ,eca%se t*e& *ae more de:'ationar& potentia' t*an
Bitcoin. Beca%se Bitcoin is t*e o'dest cr&ptoc%rrenc& it's t*e :%rt*est a'on) in its 'i:e
c&c'e. Beca%se o: t*at it doesn't *ae as m%c* o: its de:'ationar& potentia' as somet*in)
t*at costs a co%p'e o: pennies. T*ere is de:inite'& a pro:it motie t*at is ino'ed *ere. A
'ot o: t*e endors t*at I *ae spo1en +it* *ae ,een ar& interested in t*at. Beca%se i:
t*e& are interested in Bitcoin8 t*e& are interested in de:'ationar& c%rrencies ,eca%se t*e&
t*in1 it is )oin) to ma1e t*em mone&.
-B: Nice.
$: $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 in
t*e HL43LE ran)e o: t*ese to1ens8 t*at are )ien to t*e a%dience eac* +ee1. T*e mode' is
t*is8 &o% pic1 an incentii0ed 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& ,asis8
n%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 o:
t*at percenta)e t*at's )oin) to t*e a%dience. It mi)*t ,e AIE o: t*e a%dience a''ocation
:or t*e +ee1. It's distri,%ted to peop'e +*o commented ,ased on *o+ man& comments
t*e& made oer t*at time period. Beca%se &o% do t*is eer& *o%r or eer& da&8 i: &o%
comment on a da& +*ere :e+ peop'e *ae 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/cept
instead o: t*ere ,ein) on'& one +inner8 eer&,od&'s a +inner and its a'' proportiona'. It's
'i1e eer&,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's
compared a)ainst t*e a'%e o: a'' t*e tips t*at eer&,od& e'se sent d%rin) t*at same *o%r
or da& or +*ateer8 and &o% sp'it t*e LTBcoins in t*at +a&. So tippin) can ,e a pro:ita,'e
enterprise. (onatin) mone& to some,od& can )enerate pro:it :or &o% ,eca%se i: &o% do it
at 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
9%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*at3
$: 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 C%i0 %sers consistent'& +*i'e t*e&'re
'istenin) to content. $a&,e t*e C%estion co%'d as1 t*em :or a m%'tip'& c*oice ans+er or a
s*ort e/p'anation t*at is some *o+ eri:ied ,& t*e comm%nit&. It co%'d ,e seera'
di::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
'iC%idate into Bitcoin i: t*e& +ant or %se :or di::erent p%rposes o%tside o: comp%tationa'
minin). I t*in1 t*at 'earnin) and ,%i'din) more ean)e'ists in Bitcoin is rea''& +*at t*e
comm%nit& a,so'%te'& needs ri)*t no+. Especia''& +it* a'' t*e in:ormation )oin) aro%nd
a,o%t eer&t*in) t*at +ent do+n +it* $t2o/ and eer&t*in) t*at *as *appened.
-B: Can I as1 &o% )%&s a side C%estion in re:erence to Cr&pts&3
ABL: S%re
-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 K'orida8 Bi)
Bern'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 9%st a second a,o%t t*at8 +*at e/tent do &o% tr%st Cr&pts& or can +e re'& on
Cr&pts& to ,e *ere ne/t &ear or t*e &ear a:ter3 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 9%st aren't man& )ood options. It 9%st
depends +*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 K'orida8
t*at's in m& mind t*e most dan)ero%s t*in) t*at t*e& do.
$: .e)%'ation +ise.
-B: 5*&3
ABL: Beca%se +e don't 1no+ +*at's )oin) to *appen. And ,an1in) re'ations*ips can
c*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 9%st ,eca%se o: t*e
enironment t*at +e're in. I don't 1no+.
$: 5e co%'d *ae :iat coins on t*e Co%nterpart& protoco' ri)*t3 T*en &o% co%'d
e/c*an)e t*ese coins :or LTBcoins3
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
9%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*er
cr&ptoc%rrencies and speci:ica''& :rom Bitcoin8 I t*in1 t*at's t*e ast ma9orit& 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 +*o
are 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 een do do''ars.
-B: Is t*ere a sa:e decentra'i0ed e/c*an)e comin) %p3 I 1no+ t*is is rea''& o:: s%,9ect8
,%t is t*ere a sa:e decentra'i0ed e/c*an)e comin) %p t*at peop'e can rest eas& *ain) AI
mi''ion (o)ecoins t*ere or HII Litecoins or +*at *ae &o%3
ABL: 5e''8 t*e Co%nterpart& +a''et t*at is comin) o%t *as a ,%i't in decentra'i0ed
e/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 seera' t*at are comin) o%t. T*is is a pro,'em t*at *as ,een 1no+n
since... I t*in1 I started ta'1in) +it* C*ar'es #os1inson8 a,o%t p%ttin) to)et*er an F pri0e
:or 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/ 9%st :ai'ed t*is
time. T*at's t*e on'& di::erence. 5e +ent t*ro%)* t*is e/act same 'earnin) c%re 'ast
time8 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 oer Co%nterpart&8 Co%nterpart& neer *o'ds an& o: o%r
coins. <o% see it's a peer to peer e/c*an)e. Am I ma1in) m&se': c'ear3
-B: <es.
-: Beca%se8 ,e:ore &o% as1ed8 Is t*ere a decentra'i0ed e/c*an)e +*ere &o% can tr%st
*ain) a'' &o%r coins. No8 on s%c* an e/c*an)e &o% *ae &o%r coins &o%rse': +it* &o%r
o+n priate 1e&s. Sorr&8 I'm 9%st con:%sin) t*is a 'itt'e ,it.
-B: No &o%'re not. <o% act%a''& c'eared it %p :or me C%ite a ,it. Instead o: an e/c*an)e
s%c* as 2o/8 &o% don't *ae a +a''et on t*ere t*at's &o%rs. On Cr&pts& &o% don't *ae a
+a''et t*at's &o%rs t*at &o% contro' comp'ete'&. T*e& contro' +*at &o% *ae8 and &o% 9%st
*ae n%m,ers %p t*ere on &o%r comp%ter screen to s*o+ *o+ man& Litecoins &o% *ae8
:or instance. B%t &o%'re sa&in) +it* t*e decentra'i0ed e/c*an)e8 I sti'' *o'd +*ateer
Litecoins I *ae in m& o+n +a''et. T*at ma1es a 'ot o: sense to me8 and t*at so%nds 'i1e
t*e +a& t*at it s*o%'d ,e.
-: E/act'&
ABL: 5e'' +e'e ,een +aitin) :or8 its 9%st ,een *ard to do t*ese t*in)s to t*is point.
-B: +e'' t*at *e'ped a 'ot. T*an1 &o%. T*an1s )%&s.
ABL: T*ere are t+o C%estions :rom t*e c*at8 one is can &o% ma1e p*&sica' LTBcoins3
<es &o% can8 and +e're )oin) to. T*ere is more to it t*an t*at8 ,%t I'm not )oin) to )ie it
a+a& %nti' I can a,so'%te'& ma1e s%re +e *ae t*e partners on,oard to do it. B%t I'm
prett& e/cited a,o%t it. T*e ot*er t*in) is ta'1in) a,o%t t*e proo: o: commentin)8 and
proo: o: tippin). T*e C%estion +as8 does t*is ma1e commentin) on *i)* tra::ic da&s 'ess
a'%a,'e3 T*e ans+er is &es it does. It means t*at comments and tips are most a'%a,'e
+*en :e+ peop'e are doin) t*em. 5*ic* I t*in1 is a )ood re:'ection o: rea'it&. I: a piece
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*en
eer&,od&'s doin) it8 it's 'i1e a 'itt'e passie income stream :or participatin). I sti'' t*in1
it'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 *ae to
)ie peop'e .A o: a coin. 5e can )ie peop'e AI coins or a simp'e t*in). T*at's o1 ,eca%se
+e *ae a 'ot o: t*em ,eca%se t*e& aren't +ort* too m%c*. T*e )oa' is t*at t*e& +i''
eent%a''& ,e. A'' o: t*ese mec*anisms are desi)ned to ma1e it so +e neer *ae 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% conince peop'e to spread t*in)s o%t. Ot*er+ise8
+*at i: eer&,od& 9%st +ants to re'ease on 5ednesda&. 5e''8 t*e& can. T*ere is no
disadanta)e8 ,%t i: &o% *ae a s&stem 'i1e t*is +*ere it trac1s it ,& t*e da& or +ee1 or
+*ateer. 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: o:
comment protoco'3 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 initin) i: I sa& per *o%r. T*at
ma1es 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. <o% incentii0e participation aro%nd t*e c'oc1 +it* a per
*o%r t*in). T*e end )ame o: LTBcoin is t*at +e +ind %p +it* a +*o'e ,%nc* o: HO *o%r
net+or1s. T*ere are 9%st so man& di::erent options &o% can c*oose :rom t*at &o% neer
*ae to 'isten to an&t*in) or neer *ae to read an&t*in) t*at &o% don't t*in1 is )oin) to
,e er& *i)* a'%e to &o%. <o%'re pic1in) c%rators is rea''& +*at &o%'re doin) in t*is
s&stem. <o%'re c*oosin) +*ic* c%rators &o% most a'%e t*e +or1 o: and t*en )ettin)
eer&t*in) t*at t*e& do. Bein) a,'e to ma1e decisions on t*e :'& and ,e a'erted +*en
ot*er peop'e are doin) somet*in) t*at's interestin) t*at &o% mi)*t *ae t%rned o::.
;'timate'& it's a,o%t p%ttin) t*e c*oice into t*e *ands o: t*e indiid%a' +*o is ma1in) t*e
content decision.
$: Adam8 +e *ae Andres +antin) to )et in on t*e ca''. Can &o% send *im a 'in1 to t*e
*an) o%t3
ABL: O* &ea* s%re8 and t*ere *e is. #e& Andres.
AA: #o+ is eer&one3 I'e ,een 'istenin) to t*is disc%ssion it's er& er& interestin).
2reat conersation8 )reat C%estions so :ar.
ABL: Actie'& (isen)a)ed *as 9%st as1ed a C%estion t*at I t*in1 is )ood8 it sa&s8 Dso8 i:
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+ed3 5i'' t*e ori)ina' +riter )et a portion o: t*e a%dios LTBcoin3D T*ere
are t+o +a&s t*at t*is co%'d *appen8 &o% co%'d *ae t*e te/t ersion p%,'is*ed on
some,od&'s ,'o). Some,od& co%'d se'ect :or t*at8 t*en &o% co%'d prod%ce or :ind
someone to prod%ce :or &o% t*e a%dio ersion o: it. T*en &o%'d *ae 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 done
once. B%t8 it +o%'d *ae to ,e some,od& +*o 1no+s its a'read& ,een re'eased in t*ese
ot*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'' *ae t*e a,i'it& to cons%me it more t*an one +a&. So &o%'re
essentia''& 9%st ,roadenin) &o%r a%dience ,& addin) an a%dio ersion. So it s*o%'d in
t*eor&8 at 'east accordin) to t*e t*eor& I'm +or1in) o:: o: no+8 ma1e +*ateer &o%'re
doin) more a'%a,'e to *ae a ideo ersion or an a%dio ersion. It 9%st depends on i: &o%
can conince 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% *ae an& C%estions or did &o% 9%st +ant to *an) o%t3 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 a
conersation 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. Eer&,od&'s ,een so ,%s& *ere8 so i: &o% *ae an& C%estions :ee' :ree to
9%mp in.
AA: T*an1 &o%. I don't t*in1 I'm read& to as1 C%estions8 I 9%st +anted to participate in t*e
disc%ssion and 9%st *an) o%t.
ABL: So%nds )ood.
$: T*is 9%st came :orm t*e <o%t%,e :or%m8 D-%st +anted to c'ari:& t*at decentra'i0ed
trade ta1es one con:irmation to e/ec%te.D
ABL: T*at's t*e do+n side a,o%t decentra'i0ed e/c*an)es8 is t*at &o% can't do :ast tradin)
+it* it8 &o% can't do a +*o'e ,%nc* o: 'itt'e trades. Beca%se in order to con:irm it *as to
+ait :or t*e ,itcoin ,'oc1c*ain +*ic* is eer& AI min%tes8 I )%ess its ,een c'oser to L
recent'&. It's %se:%' :or t*e Peer to peer :as*ion8 :or t*e tr%st 'ess :as*ion8 ,%t it's not
%se:%' i: &o%'re tr&in) to trade :or pennies or tr&in) to )et t*e ,est dea' possi,'e. T*at
rea''& is +*ere centra'i0ed e/c*an)es come in8 ,eca%se t*e& a''o+ &o% t*at :ast and
)ran%'ar matc*in).
$: O1. $a/ *as a C%estion8 DAre &o% p'annin) on iss%in) LTBcoin on additiona'
p'at:orms 'i1e $astercoin or Et*ere%m3 I )%ess t*at someone +i'' do it at some point and
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 do
a :%ndraiser8 I ,e'iee it +as on .ipp'es p'at:orm. I don't reca'' t*e e/act... Peer Coer8
t*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 aai'a,'e. T*e& iss%ed to1ens
t*at +ere 'i1e :%t%res on t*ose Et*ere%m +ere )oin) to ,%&. T*is *appened in a non
o::icia' capacit&8 t*e& 1inda 9%st did it. T*e Et*ere%m )%&s +eren't s%per *app& a,o%t
t*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*anne'
and +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''& deriaties on
t*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% *ae an opinion on t*is8 I'm not rea''& a :inancia' too's
)%&. T*at's not rea''& +*ere I 'ie. I'm 9%st tr&in) to :i)%re o%t +*at t*e ,est +a& to do
t*is is. I +ant t*e :ree mar1et8 in eer& +a& t*at +e can I t*in1 t*at t*e :ree mar1et
s*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 9%st ar,itrar& and I'm 9%st ma1in) s*it %p. I: I +ant to do t*at8 t*ere
are a 'ot easier +a&s to do it.
-B: T*at's +*at Li9 and I *ae ,een doin)8 9%st ma1in) s*it %p.
ABL: T*at's rea''& +*at it is. $a1in) content is 9%st p%ttin) &o%rse': o%t t*ere and
:i)%rin) o%t +a&s to dress it %p in a +a& t*at isn't )oin) to ma1e peop'e 9%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& 9%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 *ae some,od& 9%st comp'ete'& t%ne &o% o%t. It's ,etter
instead to 1eep t*e conersation )oin) and tr& to %nderstand +*at piece o: t*e p%00'e
t*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). <o% ta1e
&o%rse':8 and &o% p%t &o%rse': into t*e e&es o: someone e'se8 &o% 'oo1 o%t and see +*at
part o: t*eir %nderstandin) is :'a+ed. 5*at piece o: eidence t*e& don't *ae in t*eir *ead
at a''8 and t*en &o% te'' t*em t*at piece or *e'p t*em :ind t*at piece. <o% don't te'' t*em8
no+ t*e +or'd is comp'ete :or &o%. <o% 9%st 1inda +ait :or it to perco'ate do+n t*ro%)*
t*eir conscio%sness and t*en t*e& eent%a''& )et to it. It's a s'o+er process8 ,%t I t*in1 it's
a more e::ectie +a& to do it. I don't remem,er +*& I +as ta'1in) a,o%t t*at.
-B: No8 It so%nds )ood.
$: Adam8 *o+ can +e %se t*e proo: o: ,%rn protoco' to act%a''& preent t*e s%ccess o:
LTBcoin on top o: Co%nterpart&3 T*is is one o: t*e t*in)s +e disc%ssed 'ast ni)*t.
ABL: (o &o% mean +*& isn't proo: o: ,%rn ,ad :or %s3
$: <es8 e/act'&.
ABL: T*ere is a 'ot o: con:%sion a,o%t proo: o: ,%rn. I didn't %nderstand it :or C%ite a
'on) time. I missed t*e ,%rn ,eca%se o: it. 5*en &o% are 'oo1in) at *o+ coins are
created8 t*ere is more t*an one +a& to do it. T*e :irst +a& is t*ro%)* minin)8 and t*at +as
done t*ro%)* s*ared comp%tationa' po+er. T*en +e *ad $astercoin st&'e :%ndraisers
+*ere t*ere is a ,itcoin address or some sort o: cr&ptoc%rrenc& address. Peop'e send
:%nds to it and ,ased on a prescri,ed rate or some ot*er set o: r%'es8 t*e& )et a ne+ to1en
in e/c*an)e :or t*at. So t*at's 'i1e an IPO mode' or 'i1e a :%ndraiser mode'. T*ere is
anot*er mode' t*at's ,een %sed recent'& t*at's ca''ed proo: o: ,%rn. It +as %sed ,& t*e
Co%nterpart& protoco' to create t*eir H.A mi''ion coins8 or somet*in) 'i1e t*at. Basica''&
:or eer& one Bitcoin &o% set to a address t*at *ad no priate 1e&8 +*ere t*e coins +o%'d
,e 'ost and trapped :oreer. <o% +o%'d t*en8 +*en t*e& iss%ed t*e to1ens8 )et AII FCP
+*ic* is t*e Co%nterpart& to1en. It's ca''ed proo: o: ,%rn ,eca%se it's 'i1e t*ro+in) t*em
into t*e :ire8 &o% can neer )et t*em ,ac1 and no,od& e'se )ets t*em eit*er. So it's 'i1e a
sacri:ice. B%t8 on t*e :'ip side8 it's 1inda 'i1e +*en t*e Spanis* )ot to t*e ne+ +or'd and
,%rned t*eir ,oats. It means t*at eer&,od& is in t*e same sit%ation and +e're a'' scre+ed
i: +e :ai'8 and no,od&'s )ettin) ric* o:: t*is %n'ess +e a'' )et ric* o:: t*is. Basica''& t*at is
1inda t*e et*os t*at )oes into it. I: &o% 'oo1 at it 'i1e a :%ndin) mec*ani0in)8 t*en it's
ridic%'o%s8 and it's terri,'e8 and it's st%pid. Beca%se &o%'re ,%rnin) mone&8 and t*at mone&
co%'d ,e spent dee'opment +*ic* is t*e +*o'e point. So8 Co%nterpart& ,%rned HAII
,itcoin in its tota' process. T*at is not a sma'' amo%nt o: mone&8 ,%t t*e& didn't need it.
5*at it meant is t*e& don't *ae an& tr%st iss%es8 ,eca%se t*ere's not a )iant pi'e o:
mone& some+*ere t*at some,od& *as to *ae t*e responsi,i'it& o: c*oosin) *o+ to
spend. Beca%se t*ere is no mone& to spend8 &o% can't spend it ,ad'&. T*e dee'opers *ae
done C%ite +e'' in t*is8 ,eca%se I t*in1 t*at i: &o%'re )oin) to start one o: t*ese c%rrencies
and do somet*in) +it* proo: o: ,%rn. ;n'ess it's a 9o1e8 +*ic* it co%'d *ae ,een8 it
co%'d *ae ,een a *oa/. <o% rea''& *ae to ,e'iee t*at &o% are )oin) to s%cceed8 ,eca%se
&o% are destro&in) &o%r o+n Bitcoin to )et t*e to1ens. So8 t*at's t*e t*in). I t*in1 it +ent
rea''& +e'' :or t*em. I: &o% 'oo1 at t*e a'%e o: t*e FCP to1en ri)*t no+. Een +*en
peop'e don't %nderstand it8 *aen't *eard o: it8 and don't %nderstand +*at's )oin) on. It's
sti'' se''in) :or some+*ere ,et+een 3/ and AI/ times as m%c* as t*e ,%rn rate +as. So8
peop'e t*at ,%rned coins8 it doesn't matter. T*e& *ae a'read& at 'east made t*eir mone&
,ac1 3IIE. T*e potentia' :or t*is t*in)8 ,eca%se it *as a,o%t AIE t*e s%pp'& o: Bitcoin
and a ariet& o: ot*er reasons8 is rea''& massie. T*at's t*e proo: o: ,%rn side. T*e rea'it&
:or %s is t*at it doesn't matter. It 9%st means t*at it's a drama :ree p'at:orm ,eca%se t*ere is
no mone& to ,e spent8 and t*ere is no,od& +*o is )oin) to )et ric* o:: o: t*is. E/cept :or
peop'e +*o act%a''& ,%rned Bitcoin 9%st 'i1e eer&,od& e'se. T*is is t*e pro,'em I *ad
+it* Et*ere%m8 is t*at I :e't 'i1e t*ere +as a set o: r%'es :or :o%nders and a set o: r%'es :or
eer&,od& e'se. I t*in1 t*at an&time &o% desi)n a set o: r%'es t*at *ae specia' r%'es :or
one person or one )ro%p o: peop'e to t*e detriment o: eer&one e'se8 t*at's a pro,'em. I
t*in1 t*at t*e comm%nit& perceies t*ese t*in)s to ,e a pro,'em. T*at's +*at I +ant to do
*ere8 I +ant to *ae 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& motiated :or it to s%cceed. Broad'& I t*in1 t*at t*ese coins8 t*ere are )oin) to ,e a
'ot 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 indiid%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 *ae a ne+ t*eor& a,o%t
+*at *appened to $t2o/8 I t*in1 t*e& 9%st 'a%nc*ed a massie proo: o: ,%rn8 QLI8III
Bitcoin. Kor a ne+ c%rrenc& ca''ed t*e Karpe'es.
-: -%st to add to t*is8 :irst o: a'' *ere's a ,'o) post 9%st creepin) dirt& on :ace,in. I don't
een t*in1 it's p%,'is*ed &et on Co%nterpart& +*ic* rea''& )oes into some detai' on proo:
o: ,%rn. One +a& to 'oo1 at is +*en &o%'re minin) ,itcoins8 and most o: %s *ae pro,a,'&
done t*at. <o%'re ,%rnin) :ossi' :%e's8 &o%'re ,%rnin) reso%rces %sed to create &o%r minin)
ri)s. <o%'re conertin) t*at into ,itcoins. <o%r ,asica''& :or)oin) a reso%rce t*at &o% *ae
or t*at &o% *ae p%rc*ased and %pdatin) anot*er reso%rce. T*at's rea''& t*e in a n%ts s*e''
+a& to e/p'ain it to peop'e.
AA: T*at's a )reat e/p'anation ,& t*e +a&8 I t*in1 t*at ma1es a 'ot o: sense. It en:orces
scarcit& ,& :orcin) &o% to destro& somet*in) a'%a,'e. It's part o: t*e proo: o: sta1e
,eca%se &o% act%a''& *ae to do somet*in) +it* t*at sta1e and not 9%st *ae it.
PB: I t*in1 t*at t*e Idea o: 2o/coin t*is proo: o: ,%rn mode' is )ood rein:orcement :or
peop'e +*o *ae :%nds inested in 2o/ ri)*t no+.
ABL: Can't do it &et8 ,%t &ea*.
$: Adam &o% +ere ta'1in) ear'ier in t*e LTBcoin :or%m a,o%t not %sin) So%ndc'o%d8
t*ere is a competitor to So%ndc'o%d t*at &o% are )oin) to %se.
ABL: I don't 1no+ t*at +e're )oin) to %se t*em. I'm actin) opport%nistica''& ri)*t no+.
5e *ae eno%)* cac*e in t*e ,itcoin space8 and t*ere are a 'ot o: peop'e tr&in) to )et into
t*e Bitcoin media ri)*t no+. Peop'e +ant to partner +it* %s. T*at's rea''& )reat8 and I'm
tr&in) to 'eera)e t*at in eer& +a& t*at I can. I +as approac*ed ,& a competitor o:
So%ndc'o%ds ca''ed Ardo%r. I t*in1 t*at's *o+ &o% ca'' it. An&+a&s8 t*at is %p'oada,'e and
em,edda,'e so%nd p'a&ers. T*e& said +*at +o%'d it ta1e to )et &o% to s+itc* :rom
So%ndc'o%d8 +*ic* +e'e %sed :or t*e 'ast &ear8 and *ae ,een er& *app& +it*. I said8
+e'' +e are ma1in) t*is c*an)e8 and +e need to inte)rate tips into t*e act%a' p'a&ers. I
a'so +anted to inte)rate an a::i'iate pro)ram into t*e p'a&ers itse':. So t*at +*en &o%
create a piece o: content and &o% %p 'oad it8 and &o% p%t t*e it address into it and an& tips
t*at )o in )o most'& to t*at address. Content creators +o%'d a'so *ae t*e a,i'it& to sa&8
DO18 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 HIE or AIE or +*ateer percenta)e t*e& +ant o: t*e
tip.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 receiin) t*e tip8 t*e& mi)*t not *ae )otten i:
t*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 tip
in:ormation ,%t a 'ot o: peop'e a'so 'eae it o:: entire'& and some peop'e8 ma&,e AI4HIE
+i'' c*an)e t*e tip in:ormation to t*eir o+n and 9%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*e
content itse':. T*e& came ,ac1 to me a:ter a +ee1 and a *a': and said t*at t*e& *ad ta'1ed
a,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 to
come 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 Bitcoin3 I 9%st see t*at
)iin) t*e access to minin)8 +*ic* isn't minin) essentia''&8 it's earned. Potentia''& +e
co%'d to%c* a )reater mar1et t*an Bitcoin at t*is c%rrent point. -%st ,eca%se +e are
ma1in) 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 ,& seen 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*e
non4in:'ammator& name :or t*at is DTo1en E/c*an)eD. 5e can 9%st sa& t*at :or eer& A
LTB &o% *ae *ere8 :or moin) into t*is ne+ c*ain8 &o% )et one oer t*ere. It's prett&
strai)*t :or+ard. 5e *ae 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 eer&t*in) t*at t*e Bitcoin
does 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*at
Bitcoin *as :aced. Litecoin *as neer ,een a t*reat. 5*en some,od& e/ists to ,e in
second p'ace8 &o% don't cross t*e :inis* 'ine :irst %n'ess somet*in) :%ndamenta''& ,rea1s
in t*e s&stem and t*en t*e& *ae t*at opport%nit& +*ere ot*er+ise t*e& +o%'dn't. So i:
S*a ,ro1e and it +as a'' a,o%t Scr&pt coins8 t*en &ea*8 Litecoin +o%'d +in. T*at's 'i1e
t*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 9%st %sin)
Bitcoin to )et in and o%t o: t*em8 t*en *o'din) HL di::erent c%stom c%rrencies t*at a'' )ie
&o% an adanta)e +it* one partic%'ar p'ace t*at &o% )o or 'i1e to *an) o%t. I don't 1no+. I
t*in1 it's )oin) to ,e er& interestin) +*at's )oin) to *appen oer t*e ne/t co%p'e mont*s.
$: I 1inda see Bitcoin as ,ein) t*e )o'd or resere c%rrenc& amon) eer&t*in) ,eca%se
it's t*e most 'iC%idata,'e. T*ere is a ariet& o: p'aces &o% can %se it t*at to%c* prett&
m%c* eer& mar1et +e can t*in1 o: and t*at's )ro+in) eer& da&. I t*in1 t*at LTBcoin
*as a )reat aen%e to ,e a ,ac1 ,one :or Bitcoin8 and add more incentie :or act%a''&
%sin) ,itcoins. I don't rea''& ie+ it as a competitor. An& more C%estions3
PB: Can I sca'e it ,ac1 a 'itt'e ,it3 I :ind t*is +*o'e concept :ascinatin)8 t*e idea t*at &o%
can in:'%ence peop'es ,e*aior +it* an incentie8 or 9%st ,ootstrappin) a net+or1 in
)enera'. #o+ m%c* impact do &o% t*in1 t*ese st&'e o: coins +i'' *ae in t*e ne/t L to AI
&ears or so3
ABL: I t*in1 t*at t*ese are )oin) to c*an)e eer&t*in).
PB: I a)ree.
ABL: Actie'& (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'& is
t*is not a competitor to Li,ert&.me8 ,eca%se it's not rea''& a socia' net+or18 +e are )oin)
to *ae :or%m and comm%nit& e'ements ,%t it's 9%st di::erent. I *ad a conersation +it* *e
and $ic*ae' $e)an t*e ot*er da&8 a,o%t creatin) one o: t*ese to1ens :or Li,ert&.me to
incentii0e actiities on t*eir :or%ms and to incentii0e actiities 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& eent8
an&t*in) t*at &o% +ant to incentii0e +it* t*ese t*in)s. A'' &o% need to do is create a
to1en. I *ae an ana'o)& t*at I *ae ,een tr&in) to :i)%re o%t *o+ to proper'& artic%'ate8
t*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 een 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% *ae in &o%r poc1et i: t*at's a'' &o%
*ae. So peop'e t*at *ae ,itcoin aren't rea''& compe''ed to do t*ese t*in)s ,eca%se t*e&
*ae somet*in)'s t*at a'%a,'e ers%s somet*in) t*at's ar,itrar&. 2ien t*e top t+o
options8 &o%'re not )oin) to spend t*e a'%e in t*at sit%ation i: &o%'re ma1in) t*e ri)*t
decision. <o% co%'d ,ootstrap a +is*in) +e'' ,& p%ttin) a to1en dispenser ne/t to it t*at
distri,%tes AI C%arters a da& o: somet*in) 'i1e t*at. I: &o%r t*e :irst one +*o :inds it8 t*at
means &o% )et AI :ree C%arters a da&. T*en &o% can t*ro+ L into t*e +is*in) +e'' and
ma1e L :ree +is*es8 and sae some :or a rain& da& or +*ateer. <o% come ,ac1 eac* da&8
oer time as it )ets more pop%'ar. <o% reac* a point +*ere not eer&,od& can t*ro+ in a
:ree to1en per da&8 ,eca%se t*ere are more peop'e +*o +ant t*e :ree to1en t*an :ree
to1ens t*at are aai'a,'e per da&. T*at's *o+ t*e mar1et )ies a a'%e to t*at. 5o%'d it
*ae *appened3 5o%'d an&,od& *ae eer t*ro+n an&t*in) in8 ma1in) a )ood c*oice :or
t*emse'es i: t*at to1en dispenser *adn't ,een t*ere as a ,ootstrappin) mec*anism to
ma1e it so t*at t*e :irst peop'e +*o :o%nd it co%'d do it :or :ree3 No8 pro,a,'& not. B%t8 at
a certain point t*e mar1et does :ind a'%e in it. I: t*ere is a'%e to ,e *ad. I t*in1 t*at t*is
is tr%e +it* t*e +is*in) +e'' ,eca%se t*e incenties are t*ere8 ,%t it's tr%e +it* a'' o: t*ese
ot*er pro9ects so m%c* more. Beca%se t*e comm%nit& itse':8 once &o% *ae done t*e
,ootstrappin) part8 t*e comm%nit& itse': is a'%e and a'%e )eneratin) 9%st ,eca%se it
e/ists. .ea''& t*e C%estion isn't8 D(oes comm%nit& *ae a'%e3D T*e C%estion is *o+ do
+e ,%i'd a'%a,'e comm%nit& +*en +e don't start +it* a'%a,'e comm%nit&3 I t*in1 t*at
t*is is t*e ans+er.
$: 5e 9%st )ot anot*er C%estion8 D#e& +e a'read& appreciate 'oadin) %p t*e C%t,ac1s
card to ,%& co::ee8 so +*& not LTBcoin :or cons%min) content3D
ABL: .i)*t no+ +e're not )oin) to c*ar)e :or content. It's 1inda interestin). T*is
net+or1 doesn't rea''& re'& on an&,od& pa&in) :or st%::. T*e )oa' is to ac*iee as +ide a
distri,%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 )ie it to t*e peop'e t*at are +i''in) to pa& &o% :or it. T*ere are some
pro9ects t*at +e are p%s*in) to+ards t*at *ae an e/c'%sie 'ee' to t*em. Incidenta''&8
I'm c%rrent'& sta::in) %p T*e A't4coin O,serer8 +*ic* is )oin) to ,e a ne+s'etter t*at is
)oin) to ,e aai'a,'e :or LTBcoin c*eaper t*an in ,itcoin. Essentia''& dea' +it* ario%s
coins. I: &o%'re interested in )ettin) ino'ed +it* t*at +e are p%ttin) t*at cre+ to)et*er
oer t*e ne/t t+o +ee1s8 ,asica''&. T*ere is a 'ot o: pro9ects8 i: &o% +ant to )et ino'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 eer& +a&8 and t*ere rea''& isn't a 'ot o:
str%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 at
t*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 eer&,od& :or comin) to t*is. T*is +as )ood. 5e're )oin)
to do t*is 1inda :reC%ent'&. I *ae 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 a''
t*e con:erences a)ain. T*e sc*ed%'e ri)*t no+8 o%r A &ear anniersar& is Apri' HLt*. I
p'an to *ae a ariet& o: t*in)s re'%ctance ,& t*at point. I'd 'i1e to ma1e a n%m,er o:
anno%ncements a,o%t partners*ips at t*at point to. T*e p'an is to *ae t*e test ersion o:
LTBcoin aai'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%t
some,od& o::erin) to se'' it to &o% and not 1no+in) it is t*e +ron) one. I do *ae t*at
concern8 t*at it's rea''& eas& to start somet*in) 'i1e t*is8 and it seems 'i1e peop'e do tr& to
ta1e adanta)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 )et
some8 t*en re)ister at t*e LTBcoin.com :or%ms and ma1e L 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 <o%t%,e c*anne'. Ni)*t ,e a )ood s'o)an :or
t*e coin8 D5i'' +or1 :or coin.D !A'' La%)*" I t*in1 t*at t*at 1inda :oc%ses t*e idea o: +*at
rea''& di::erentiates LTBcoin :rom eer&t*in).
ABL: 5e'' see *ere's t*e t*in) t*o%)*8 it di::erentiates it no+ ,%t it's not )oin) to
di::erentiate it in a mont*.
$: 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) to
tr& and do t*is same t*in). It's )oin) to ,e eas&8 and peop'e are )oin) to %nderstand once
some,od& proes t*e mode'. T*at's t*e )oa' I t*in1 is to proe 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 diidends. T*ere are a ariet& o: ot*er t*in)s &o% can
do +it* it too. One o: t*e ot*er interestin) parts is t*at +e are )oin) to create t*e to1ens
t*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. <o%''' ,id :or a sponsor to1en8 +it*
LTBcoin. T*en +*en &o% *ae t*e sponsor to1en8 &o%''' ,e a,'e to t%rn it in and redeem it
+it* t*e s*o+. And t*en t*e&''' p%t &o% on ,asica''&. T*e point o: t*at is t*at it ma1es it
so +e se'' t*em 'i1e a mont* in adance8 and peop'e can act%a''& trade t*em. Some,od&
can ,%& a sponsor s'ot +it* t*e idea t*at t*e& don't necessari'& *ae an&t*in) t*at t*e&
+ant to do +it* it8 ,%t t*e& 1no+ peop'e or t*in1 t*at t*e& 1no+ peop'e +*o comp'& +it*
t*e standards on t*e LTB Net+or1 or t*e speci:ic s*o+ t*e& are ino'ed in. Beca%se
eac* s*o+ or eac* ,'o) is )oin) to *ae its o+n speci:ic standards too8 in addition to t*e
net+or1 standards. T*en rese'' it :or +*ateer price t*e& can )et ,et+een t*e price t*at
t*e& paid :or it in LTBcoin +*at t*e& can )et :or it in ,itcoin. A)ain8 ,eca%se t*is is a
transparent process8 t*at's *o+ it +i'' start. Beca%se t*e peop'e +*o +ant to ,%&
sponsors*ips aren't )oin) to necessari'& %nderstand *o+ t*is is +or1in). Peop'e can act
opport%nistica''& and essentia''& ,e commissioned sa'es peop'e +or1in) :or %s. 5*ere
t*e commission is t*e di::erence ,et+een +*at t*e& pa& and +*at t*e& are a,'e to
ac*iee. I 'i1e t*at idea. I 'i1e t*e ideas t*at 'et %s create sets o: r%'es8 and t*en 'et peop'e
:i'' t*emse'es into t*e position8 do t*e 9o, t*at +e need to ,e done and t*en )et
compensated ,ased on t*at and at t*e same time8 mar1et :or %s is +*at's *appenin) t*ere.
$: So8 I )%ess )o to LTBcoin.com to rea''& )et ino'ed in t*e comm%nit& and :ind o%t
more in:ormation on eer&t*in) t*at's )oin) on +it* LTBcoin. 5e're )oin) to tr& to do
t*is podcast or +*ateer &o% +ant to ca'' it once a +ee1 to ta'1 a,o%t eer&t*in) t*at's
)oin) on +it* LTBcoin.
ABL: A,so'%te'&. 5e +i'' set t*is %p a)ain :or ne/t +ee1. One t*in) t*at I'm er&
conscio%s o: t*at +e are c%rrent'& missin) is a ,'o) :or t*e LTBcoin concept. 5e're
r%nnin) t*e Let's Ta'1 Bitcoin7 Content st%::8 ,%t +e're not act%a''& doin) a meta ,'o)
+*ere it's simp'e and &o% can )o and 'earn eer&t*in) &o% need to 1no+ a,o%t it. .i)*t
no+ &o% need to )o to t*e :or%ms. I'm *opin) to remed& t*at ,e:ore I 'eae :or a'' t*e
con:erences I need to )et read& :or. T*at is *i)* on m& priorit& 'ist8 and a)ain i: &o%'re a
dee'oper o: &o% +ant to )et ino'ed8 +e actie'& need *e'p ri)*t no+ in a ariet& o:
capacities.
$: So essentia''& 'i1e a +i1i ri)*t no+8 'i1e an LTBcoin 5i1i is +*at is needed.
ABL: I don't 1no+ i: it's a 5i1i8 I t*in1 t*at t*e :or%m does t*e 9o, o: a 5i1i. It's a 'ot o:
in: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'' 9%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 a
5i1i 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 trae'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''& actie'&
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% eer&,od& :or 9oinin). 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. <o% )%&s ta1e care. $a&,e +e s*o%'d end it +it* ode to
Satos*i.
!A'' La%)*"
-B: #e&8 t*at's a )ood idea $att.
ABL: <o% +ant to sin) it $att3
$: <ea*8 'ets do it. !La%)*"
ABL: T*at's o18 I'm )oin) to end t*e ,roadcast no+. T*an1s.
!-B p'a&s t*e )%itar +*i'e sin)in)": D5e'' Satos*i Na1amoto8 t*at's a name I 'oe to sa&.
And +e don't 1no+ m%c* a,o%t *im8 ,%t *e came to sae t*e da&. 5*en *e +rote a,o%t
t*e +a& t*in)s are8 and t*e +a& t*in)s o%)*t to ,e. #e )ae %s a'' a protoco' t*is +or'd
*ad neer seen. O* Bitcoin as &o%'re )oin) into t*e o'd B'oc1c*ain. O* Bitcoin I 1no+
&o%'re )oin) to rei)n8 )onna rei)n. Ti'' eer&,od& 1no+s8 eer&,od& 1no+s8 eer&,od&
1no+s &o%r name. Eer&,od& 1no+s8 eer&,od& 1no+s8 D2ie me some e/pos%reD8 ti''
eer&,od& 1no+s &o%r name7D
ABL: -o*n I 'oe t*at &o%r sittin) t*ere +it* t*e )%itar read& to ,e't t*at o%t.
!A'' c'ap and 'a%)* and )ie con)rat%'ations"
$: #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 'oe 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 recorded
'ie on 2oo)'e #an)o%ts. T*an1s to eer&one t*at participated. I: &o%'e )ot a C%estion
t*at +asn't ans+ered or +o%'d 'i1e to 1no+ more8 isit Letsta'1,itcoin.com?rsp to ,e
directed to t*e ne/t *an)o%t opport%nit&. $%sic :or t*is episode +as proided ,& -arred
.%e,ens and )enera' :%00. An& C%estions or comments3 Emai'
AdamR'etsta'1,itcoin.com.
44444444444444444444444444444444444End o: a%diocast44444444444444444444444444444444444444444444
Transcri,ed ,& Pi AKA Im_*ere_no+