Bitcoin Private Austin Conference #2 – BTC Private & The Road To Financial Freedom

He’s saying that I’m watching the Livestream fail like 3 times and try and get it back on. Hopefully, it doesn’t happen while I’m up here. Thank you, Tai. That’s a wonderful introduction.

Just to give you guys a little bit about who I am. I graduated in August with a Ph.D. in chemistry and I seriously have no idea how I’m standing here now. It’s a much different world than the chemistry world, but I love it every minute of it, so I’m really glad to be here.

Without further ado, I’m gonna tell you just a little bit about Bitcoin private kind of my thoughts on why this is important. We all know that cryptocurrency has gone mainstream. There are so many different companies that are using this as currency now.

Microsoft, they were using it then they stopped using it and then they started using it again. They’re back in. Bloomberg Braintree from PayPal. There’s just so many.

My personal favorite is I can go to Canada and buy KFC. That’s awesome. I live like 10 minutes from Canada, so I really have to go and do that. There’s just so many more.

All of these companies are now accepting it. It’s just fantastic. I can go to and sign up and get dates. I don’t need to, but I can and that’s awesome.

We all know one of the reasons why this is a great part of Satoshi vision was something that had less inflation or at least controlled inflation. We all know how much Bitcoins going to be made, we know at what rate it’s going to inflate.

We have no idea what’s going on with the US or other Fiat currencies they’re made and burned or whatever, whenever the government feels like doing it.  now, I’m not saying that the government’s bad, I’m just saying that it’s nice to have the cost of currency in our hands rather than controlled by invisible hands.

Obviously, it’s better security, I mean we all know if you’re all here you probably all know that the blockchain has unbelievable security. It’s the best on the market best cryptography on the market so I’m not even going to spend that much time on this slide.

All of this really allows you to have financial freedom, you have fantastic security. You don’t have to worry about your currency being manipulated in away. If we take for example a US Dollar I hold today is worth less tomorrow and worthless the next day.

But if I have Bitcoin, I mean it might be worth a hundred percent less tomorrow but then hopefully it’s worth a thousand percent more the day after that. I’m sure we’ve all been through it at least once or twice so and that allows us more financial freedom.

We have more control and that’s fantastic we should have more control over our lives and we all know that Bitcoin is the king. I mean let’s be realistic. It’s the first, it has the most pairs you can go and trade with it.

It’s the king and everybody knows it. A few people dispute that, and they’re trying to replace it but it doesn’t seem like it’s going to be like that anytime soon, but maybe eventually I kind of like to liken it to cars. Why would I go around sure model T or Ford’s Model T was like the first car?

Why would I still drive that when I could go buy a Tesla now? It doesn’t make any sense and so it’s slow. I can drive a really fast Tesla or whatever one likes to talk about Lambos and the crypto world instead of a Model T.

Why would I do that? We all know how fast technology moves now like 60 years, like the amount of technology that we’d get over 60 years like a hundred years ago happens in like a week now. It moves really quickly.

There are really high fees we’ve all experienced this. I mean come on, I’ve had at least once or twice where you try to send like $300 USD worth of Bitcoin and cost you 15 bucks. What if I’m a business and I want to sell something that’s $5 USD and it cost me $15 USD to sell it?

I just lost money because I wanted to use Bitcoin that’s not really financial freedom. Back to the slow thing, how many of you have had for instance in exchange take 3 hours for Bitcoin to get to it?

I know I am. Raise your hand if you’re one of those people. Wallet to wallet sometimes over an hour. I mean it’s absolutely absurd when there are other technologies that take just a couple minutes.

That’s kind of stinks and then of course not very much privacy related to this well there used to be that was the original vision was to have privacy to be able to spend digital money without being tracked by bank institutions and etcetera. You could do this and feel free and feel safe, but lately, it’s been mostly Danonymized or at least some percentage of it has, so they can find a way to track.

It’s not necessarily easy but every year it gets easier, every day it gets easier so can we find something or can we use technology. That isn’t susceptible to that and that goes back to just talking about privacy, in general, we all have the right to privacy and the right to safety.

I strongly believe in it I think our entire team strongly believes in it and that’s exactly why we’re a part of this project. Why do we need privacy? One of the reasons I like to say it is protected from hackers, particularly in the crypto sphere.

I mean if you have fun stored on a wallet then and they can hack your computer, they can find it and they can take it. If they already knew your address somehow they can check it and see if it’s worthwhile in order to do that but if you’re on a private ledger or you have actual privacy, they have no way of seeing what you have on a public ledger.

I like to think we’d have protection from hackers more so than what Tai was talking about earlier. I’m not going to get into that just because he already spoke about it. Everyone always says that privacy is only for criminals and terrorists.

I don’t agree with this statement. How many people here agree with that statement? We got one, maybe 2. Only for criminals and terrorists.

I am NOT a criminal or a terrorist. Did everyone hear that? If you have nothing to hide then you have nothing to fear. I don’t really believe in that. Ben Franklin once said to us that they who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.

The instant you rather you’re willing to give up any of your liberties or freedoms. You deserve none of them and you also don’t necessarily, everyone deserves safety. I’m not gonna support necessarily that but you probably won’t get safety in that case.

I mean let’s just take a look back at the fantastic book 1984 where everyone just gets watched, they’ve lost everything at that point. That was great, I mean they wanted to give the FBI just a well unlock this one phone for you and I would be fine with that.

I mean the guy was obviously a terrorist, but they weren’t going to give him a backdoor to every single phone out there. Exactly, it’s a fantastic point mark, so it did happen so then they had to patch it and then they fix it and then we’re gonna start all over again.

I mean that’s just the way it is, and it’s and it’s inevitable, I mean people will argue too that how do that it’s going to be private forever? I mean it’s private until someone proves it’s not. It’s an unfortunate reality but at least we can run with it until it’s proven otherwise.

This is why you should or at least what I believe in has given me liberty or give me death. I don’t want to live in a world without Liberty. This is what we’ve been given at this point and it’s a privilege, don’t get me wrong.

I feel fantastic. I love the fact that I’m able to have this but that doesn’t mean I’d rather die than not have it especially having been raised with it. That will actually get into what Bitcoin private is I’ll stop preaching on my soapbox now and start to tell you what I’m actually trying to sell you, not really sell you, sorry.

Mark it to you, I don’t sell anything. Should probably give a ties end disclaimer I am however modestly invested in this project. We’re worried a fork from Z classic and Bitcoin.

This was Rhett’s idea. I remember the day that I found out about it I was just kind of hanging out in the Z classic telegram. I had no idea what was going on and he just said: “Oh, I’m gonna do this. I need volunteers” and now I’m operations lead.

Weird things happen from time to time. It’s a fantastic idea, no one’s ever really thought of this and there’s a lot that goes on to it. Tai’s said it best yesterday when we were at crypto in Frisco. Actually, what is one of the major reasons why this is so cool is because we’re able to bring 2 completely separate communities together, maybe there’s some overlap.

But to completely separate communities together into one fantastic coin, so why should I choose Bitcoin private over Bitcoin or other Bitcoin Forks? Four to six times faster, the transaction speed or our block speed is around 2,5 minutes on average. That’s fantastic.

I mean literally I’ll send my funds from one wallet to the next or to exchange and I can see it pending almost instantaneously. Then I see it within usually it’s under 2 minutes confirmed and then I can move it around again. It’s unbelievable how fast it is, extremely low fees the block size is double.

It’s 2 megabytes instead of 1 and that makes it a lot better than your typical 1-megabyte block size on Bitcoin. It’s community-driven we have something like over a hundred people contributing to this. It can be a little bit hectic at times but I think we have effective management and organization now that’s really running very smoothly.

I love this part and people say that it’s bad. I don’t think it’s bad. I can go out any day and say: “Listen, we need someone who’s better at doing this like yesterday or the day before we needed someone to make a docker image for us”.

I just went out on Twitter and said: “Hey, we need an expert in this”. It’ll take us a few hours to get it done but an expert should be done in 30 minutes or something like that.

I had like 20 people message me in minutes and then we got it done in half the amount of time that it would have normally taken us. They’ll complain why don’t you already have those people now because we’re a community, we do have those people. I just have to find them.

We’re very decentralized given that we just keep adding new developers. By the way, I’m supposed to shout out the developers you guys have been doing an amazing job, love you guys. With the electrum wallet getting up, that mining pool, everything it’s been they’ve been unbelievable. Let’s give a round of applause for them.

Honestly, I don’t know how we ended up with such a fantastic group of developers that are just donating their time to us. They’re just unbelievable and I love every one of them. I like to think we have transparent governance.

We’ll just set it up  I mean it’s just starting, there’s 5 of us we’re all publicly known every single one of us and it’s set up in a way that 5 of us have control of the wallet through a multi-sig. All 5 of us have to agree to send those funds out and basically, we can request to the community: “Hey, should we spend these funds?”

Then we can discuss among ourselves and vote on it. It’s very transparent, we’ll tell everyone where those funds are going. It’s just started and we actually haven’t spent anything yet, so you’ll see that process in action in the future. Of course, we have ZK snarks privacy protocol now I’m sure Rhett will tell you about it later, so I won’t tell you much about it.

Other than the fact that I think it’s the best privacy protocol out there the private ledger is completely invisible, so you can send funds to and from those Z addresses. You cannot see that on the public ledger. It’s really a fantastic privacy protocol.

What about some other privacy coins? I’m just gonna compare with other Z protocol coins because I really do think that that’s the best privacy protocol now. I’m sure I could argue for days with other people about that but it would take way too long for me to compare with every single privacy coin out there.

There’s 3 what I call three major other Z protocol forks. First one Z cash, there’s some speculation it was pre-mined not proven but it has been speculated what I like to call a coarse tax. They call it a founders tax, either way, I think it’s just a terrible name.

They basically have like I think I don’t know their development team is rather small, kind of centralized, so a lot of funds in a very few people’s hands. Fairly low transparency, I try to look up what they’re doing all the time and it seems like it can be really hard to figure out what’s going on.

Really high inflation at the moment, there’s still something like 18 million coins that need to be mined out of 21 million, so that’s a lot of inflation over the time, over the next few years. Z classic is a fork from Zee cash, Zen cash is a fork from Zee classic, so a fork of a fork, just like I guess Bitcoin private will be a fork of a fork and then a fork of Bitcoin.

I think they kind of have of course tax. It’s a little bit more transparent, I think the devas is less centralized. I still think it’s more transparent than Z cash and it still has that really high inflation. Z classic has that same really high inflation too.

Then, Komodo, but not the lizard, the coin has a really significant pre mind. They were an ICO and that’s not necessarily a bad thing. I mean there’s a lot of really great out there. There’s also a lot that are complete scams like everyone knows a bit to connect. Hopefully, no one in here was scammed by bit connect.

All I use is a bit connect, that’s it. Really high inflation, they have something like a hundred million coins left of mine. How do we compare with ours?

We’ve already talked about those 3 things that I think are fantastic about our project. We have no pre-mine, there is no course tax. We have Bitcoin brand recognition, I mean let’s not deny the fact that this matters and bringing that community in having that brand recognition it matters.

It’s important that’s a huge community, it’s the largest community out of any coin is Bitcoin so bringing that community in instantaneously is a huge advantage. What are we working on before the fork happens?

This is kind of how I see it I just made I kind of reworked this a little bit this morning, so it’s not 100% official yet. We’re going to re-release again tomorrow with some updated things and maybe some dates, but we need to release the Z classic shielded electrum wallet.

We did transparently, you probably saw that come out yesterday. It works amazingly, there’s maybe 1 or 2 issues have been reported on Mac, but for Windows works 100% of the time. Really proud of our developers who are able to get that done.

We need to create the Bitcoin private electrum wallet apparently, then the fork comes because I messed up my animations. We have to release a whitepaper finish our voluntary minor contribution program which I’ll tell you about next.

We’ll do the snapshot and then the fork will follow the snapshot it won’t come after hitting the wallet and so I just wanted to tell you about this voluntary minor contribution program. I think it’s fantastic. It’s really interesting and we need more people to jump in.

It just grew, I mean it’s growing exponentially, if you’re a minor, come to talk to me about it afterward. If you want to know more and I’ll tell you a little bit about it now, 1.25 Bitcoin private per Z classic at the moment. If you go in, we’re trying to raise about 55,000 Z classic.

In the end, we’ll create 62,500 Bitcoin private at the fork and hand that back to the miners who mined and contributed to us. Basically, it’s an exchange for hash power. Now, some people might call this a pre-mine.

I don’t think it’s a pre-mine when we’re giving the funds back to the mining community. They were gonna mine it anyway, so how is that considered a pre-mine? I would disagree.

We need funding and we need that for exchanges, development, marketing and just general and administrative costs that any kind of organization has to pay for and this is why we launched this program. If you’re interested in it, go to this website fund.zclassic.org.

Just come and ask me if you want to know more about it. I think it’s a fantastic program. you’re going to get more Bitcoin if you were planning on holding through the fork, you’re gonna get more Bitcoin private at the end.

We had a bug in it where it wasn’t showing how much Bitcoin private you had earned was just fixed a couple of hours ago so now everything’s running really smoothly. I highly recommend getting on there and helping us out. It would mean a lot to us and it would mean a lot to Bitcoin private and the team and all of the developers and marketers and everyone who’s been working tirelessly for no pay, whatsoever.

With that I’m just gonna show off our team a little bit, Rhett myself, Giuseppe who’s just been amazing, Mark he’s taking the whole marketing program on his back. I call him and we talk on the phone like 20 times a day.

It’s getting actually kind of out of control. We have a huge team, this isn’t even all the team. I mean our community is amazing with over 70 people I mentioned that before.

There’s a lot of people on here this was since the last time I did this we already updated again with more people, so everyone’s allowed to get their name and face on there if they’ve contributed to a certain extent.

This list is just growing well. I honestly think we’re one of the best teams out there, I mean we just we’re doing so well for what we are a team of volunteers literally. Maybe we can give a round of applause again for everyone who has volunteered our time for this project.

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