Right now its being tested and the test are going quite well and were going to interview the cofounder of Lightning Network which is a stark hopefully well interview her soon but regarding this means of Exchange First says store value yes the markets decided investors decided in twenty seventeen that. It would not be necessarily means of exchange at this moment its going to be a store of value back in two thousand and fourteen when stripe first started in twenty fourteen the San Francisco based firm became the first major Payments Company to support big claim payments at the time stripe hoped would become a way for people in places with low Credit Card Penetration are prohibited lehi credit card fees to do transactions online but it said the Virtual Currency was now better suited to being an asset than being a means of exchange so back in two thousand and fourteen when you know of course were covering it here. Kaiser report. We use it as a means of Exchange Many people you know use it as a means of exchange you know people i phones with and i remember it being exciting that you could buy an i phone with ten between and then once the market decided actually its a store of value then it became a little bit frustrating that you had spent ten bit queen on an i phone well the invention was not to create a store of value it was a store of value it was a corollary or a byproduct of creating a medium of exchange so to create that medium of exchange the become protocol inadvertently created a start value which then became the defacto primary reason people accumulated bitcoin now in the wake of this kind of transition or discussion about means of exchange or store value youve got other all coins of come around and theyre competing in the trying to get into that space to be a more perfect solution for means of exchange and other types of variations come about but the entire cryptocurrency market itself is still on track to eclipse the Global Banking oleg aapl e which is what we need what we want and ive always said its a banks or a killer thats the primary use of bitcoin and cryptocurrency yeah and as our guest adela to force their heads had you know there is a hold on tourism going on for all of the queens even the ones that are supposed to be instant sound like dash the price goes up to over a thousand at the area where all the prices keep on going up which inspires the notion of holding a hotel as its called in the cryptocurrency field. Originally the original stackers the original holders are gold. The Gold Investors i know which is a kind of in museums to this to some degree would be steam and steam it because youre constantly getting more steam when youre posting to the site your content and on days that its high you might be getting less on days that its slow youre getting more so. Statement youre dollar cost averaging steam by virtue of how they present content and pay content providers and they didnt set out to do that such a but thats the way its turned out and so steam looks like its going to be a way for people to accumulate crypt i want to dollar cost averaging just simply creating more content you know we spoke to some independent bloggers and bloggers at the miami because conference and they are really getting the before and the last ten seconds before we go i want to say that sales soar four hundred percent s. Cryptocurrency so there is a four fold increase of holders zero dollars stacking into gold well so we got it to pick going to gold stay tuned for the second half a home up for them or more for. Turkeys decision to invade Northern Syria has Foreign Policy implications far beyond the middle east what our anchor is objectives in syria and the region. A final peace settlement to syrias proxy civil war and what is turkeys future in nato. Across europe municipalities are taking their water supply back from private companies who. Own even some company elsewhere so they can find private companies to take over the utilities anybody tell us. This is. For you. Locals are ready to stand up for the basic human rights the access to water its about water. Its about to hurt the redistribution oh oh oh oh. Debt downwards the one dollar. Join me every thursday on the alex salmond show and ill be speaking to guest of the world of politics sports business im show business ill see you then. Welcome back to the cash report im max keiser time now to turn to harry a play narry what is it now by neary financial harry welcome great to have you on finally for having me on my huge fan of the show you know weve been following your career for a while and youre one of the stalwarts in the business tell us whats your investment does your company make in companies or directly into crypto actually so minor Financial One of the larger and o. T. C. Firms we stablish back in two thousand and fourteen and our main focus is we facilitate large block trades for High Net Worth clients and institutions so if somebody wants to buy five or ten Million Dollars with a bit coin a theory and we help facilitate that we also have a long bias to came in came in not only fun but i am going to vancouver. And singapore so what kind of regulatory hurdles that you have to overcome to get to this stage of the business does face well actually the most the areas that weve been working with are in the United States so we havent really had to deal with a lot of regulatory per se but im our fund is kaman base so we have to softball came along and when we had a u. S. Fighter jet the full us funded hows business grown in the last few years obviously its been its been booming i guess tell us the numbers just going on. I mean we dont talk about specific numbers but i mean on any given day you know some on some of our busier days you know well clear anywhere between one hundred million and a transaction sometimes o. T. C. So Trading Volume even electronically from our trade is actually pretty high and right now just the appetite of money thats actually coming in. The this is how most every o. T. C. Brokerage is quite busy right now yeah how do you deal with the volatility is that an issue for you your market maker to keep inventory on hand and we love volatility and you know traders trade and were traders first so to kind of ask your questions were not really on the p. C. Side are we doing the best in i. C. A. O. Has but the number one thing we look for is liquidity so yes for us trading volatility is. Traders best friend so we almost got you all right so lets talk twenty eighteen what are the themes emerging from your point of view what will we be saying i think what youre going to start seeing and restarting to see already is that a lot more of the sovereign wealth funds and even countries are going to start hedging by buying bitcoin an alternate crypto currency is not because they want to but they need to so theres already been channels and dialogue that weve been talking to some people about where they theyre actually looking at purchasing bitcoin to hedge against the deflation of the euro ok so this is really fascinating to me because it kind of anecdotally our instinctively ive been saying hey you know how these sovereign wealth funds are going to start nibbling at this central bank is going to start moving into this year uniquely position on the trading desk dealing with i networked individuals and institutions and so youre saying from year seat at the table that yes you believe that trend will merge in twenty eighteen sovereign wealth funds of saddam merging its already happening but people dont i mean our minimum trade says half a billion u. S. And all the desks sots all the desks so you start to see kind of whats going on and even in the news you know even from j. P. Morgan is actually apologizing for a big point so a lot of the banks now starting to see that the Wealth Management departments we speak with a lot of Companies Just even on the consulting side on the banks and everybody is trying to understand sas a class because its the number one performing alternative asset class a forget about it for us were really bore on the speculative them like the price trading side so for us having a good good healthy price of bitcoin and cryptocurrency is extremely important because its a barometer of the health of the industry just like while in gas if the price of oil isnt doing very well then the rest of the industry suffer so i think thats what youre starting to see right now is you you really cant ignore the price of big points almost at a trillion dollar market cap for all crypto currencies you know in a time just recently there was an idea that the banks and the Central Banks would figure out a way. Detail the big clean Freight Train and it seems now were at a time when that notion has expired and right the Central Banks of these large institutions the sovereign wealth funds are now capitulating to the fact that theyre going to get in the game and the game theory thats in parent in the protocol the way that the interest of all parties are balanced to create this competitive environment of the distributed network and if that jumps up to the state of the Central Banks will we see Central Banks trying to outcompete each other to get the biggest position in bitcoins i mean thats very interesting because if you look at gold historically what a lot of the larger g eight countries have done to you is theyll start accumulating massive positions and goal. Theres only twenty one million bitcoins so you can imagine its not even enough to call in for one person for every person on the planet so. Youre going to start to see a lot more of the crypto currencies i think Central Banks right now are you can see exploring the possibility ideas of tokenized their own. Does not yet fully explicit in other words a centralized point put out by a bank is really the antithesis of that point i dont think so because what youre just going to end up seeing is more use of wake up launching technology so any type of government entity. Becomes a fad of walked in and you just validating the technology itself so it becomes a selffulfilling prophecy so i actually think twenty eight hundred twenty nine thousand going to see monster moves up and down in a currency because so no real effective way to really hedge power than if you just contract going i mean typically that would be edging contract as a performing a such i think the issue with the futures contracts and we see weve seen this before is that bitcoins decentralized so the only reason that traditional derivatives in Options Markets work is because theyre priced out of one Central Exchange same with currencies you can actually hedge against yet hearsts but how do you hedge against something when. Theres five or ten percent spreads going to different markets even on a weekend so i think right now the only true futures market you really really see thats going to be affected as bit max and there because it denominated futures because i think were going to be moving towards a world actually we already started thinking in bitcoin terms when we trade and not necessarily u. S. Dollar right something hyper a big point is ation mindset is that ousts eating into daniel crowds and i believe ive got your name tracked this time and you know its from the city toshi incentive this idea we had to hyper big money nation world of denominating things in that point yes youre seeing that an institution already doing it already and for us its going be exact opposite direction because when you talk about dealing its a toshiba you dont have a comma its much more difficult to figure what decimal places than it is because its good its the reverse because things are actually worth less relative to big point but when youre talking about dollars you have inflation the price goes up so what country in your view conic gets it more. Than other countries like us or a country that seemingly understand its really going on and i think all the countries get it what happens right now is people always have a fear of the unknown its almost like the same thing that happened when the internet first came out it was kind of a novelty but you know first came out it was a novelty when a social networks came out before they became a utility theres always a lot of pushback when you come and comes to initial technology but because crypto currency is the single biggest innovation to happen since the internet and possibly. The biggest financial innovation since black holes will be off of pricing models what not so i think. You should its a same thing with labor with the taxi regulators. Youre going to start seeing a lot of pushback first but then youre just going to start accepting the fact that you cant ignore them dont prince youre watching now theres a big ice in the pipeline for the telegram to corporate i. C. A. O. What do. You mentioned you arent involved in i. C. s tell us a little bit about this if youre covering it what do you see here is what it whats going on that is every bit a lot of interest on the telegram i assume were huge fans telegraph we use the product. Its one of those amazing teams and stories out there where theyve raised literally no Venture Capital its all self funded really really smart guys its going be a blockbuster i mean were going to buy into it is this the beginning of a phase where corporations now going to be issuing their own blog chain and is that just a following them that or is it really going to this is the enterprises and when it is amazon going to come out with something as google as apple. And is it just chasing something that theyre not really clear whats going on or is this going as a something more here and something more because if you look at how much additional venture models actually Work Companies have to raise money through you know in a series a series b. What youre starting to see now is tokenized securities so if i right now all the tokens that use your utility tokens so Companies Like that hes your own polymath theyre tokenize and securities on the block chain and we invest in one of the earliest companies tokenize or secured copycat so any kind of security is going to be under regulatory scrutiny so right now i think what youre going to start to see twenty thousand and twenty nineteen is a migration to the block chain so that people can actually raise securities on the watch and that are regulated by security so so be capped block change capital yet last time a product here up here says a fine now and twenty eight team started with the big sell off of our veterans of the space weve seen these before but newbies have come in the last six months came in a twenty seven team heard about it and they jumped in with both feet in the one thousand nine hundred twenty thousand what would your what would you say to folks in that in that in that kind of position theyre new to spanish and the other theyre seeing some some big selloff well how do you handle it i think. Like wed like to tell everybody thats theyre getting into the space you know dont. Risk only what youre willing to lose that amount and say take ten to twenty. And i have a quick net worth and really kind of get comfortable with the space dont just bet everything because at the end of the day it is extremely volatile you know not too many people can stomach thirty percent drops in a single day you know weve been through it enough so that weve seen kind of how this market actually works. So that would be the best advice is just understand that this is an extremely volatile os and if you going to be buying dont buy all that one scale into a position so if you have ten thousand dollars that you want to buy instead of buying all ten thousand dollars and once maybe buy a thousand dollars every week for like a few weeks so that it spreads out and spend solid tossed averaging exactly right thats an old wall street track if you well you put in a set amount on a regular basis up its high on a buying last if its low you end up buying more and it takes the emotions yeah out of your actually one of the best strategies that we actually used from for myself was i bought a big coin every day three years so i put a little bit away every single day and did some days it was hard because youre like oh my god its so high and sometimes its so low so thats actually a good a good strategy is just even put a little bit away every single day the discipline just approach it that way and so this is how would you lot of talk about is it is is it a commodity is it a currency is it a duck billed platypus as some have called a home actually its a hybrid. The best we did as i described cryptocurrency is a not just bitcoin is that they have all the debt all the features of cash as a cash commodity cash and a commodity and a currency because it has all the properties of cash but without the weight without the inflation and has all the properties of gold built up without the weight and the deflation its the perfect product and the perfect theres not a more perfect elegant product thats ever been created in history but were going to leave it right there on that note thanks so much being on cars and going for having me excellent and you all right well thats going to do it for this edition of the guys report will be back geyser and Stacey Everett i want to think the best. Well guess finally got a monetary yeah a a binary financial if you want to reach us on twitter its kind of a report until next time. This is says harlan kentucky. Places people walk through street fannys. A co money city with most no coal mines left. The jobs are gone all the coal mines the fed. Live to see these people the survivors of disappearing before their eyes. I remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in a million years i would see that and its happening its happened. Heres what people have been saying about rejected in the us exactly just pull along awesome feel the show i go out of my way to find you know a lot of the really packed a punch. Yampa is the john oliver of party americans do the same we are apparently better than to fast see people youve never heard of love redacted tonight was president of the world bank so they can go right to take seriously he sent us an email. Hello and welcome to crossfire where all Things Considered im Peter Lavelle turkeys decision to invade Northern Syria has Foreign Policy implications far beyond the middle east what are anchors objectives in syria and the region does it facilitate or hinder of final peace subtle meant to syrias proxy civil war and what is turkeys future in nato. Across talking turkey and syria im joined by my guest Sami Ramadani in london hes a contributor on iraq and the middle east for the guardian as well as a senior lecturer in sociology in oxford we have Dan Glazebrook he is an independent political analyst and author of divide in ruin the west imperial strategy in the age of crisis and this temple we cross to change he is dean of Political Science is a marmora university all right gentlemen crosstalk rules in effect that means you can jump in anytime you want they always appreciate it i change the senate bill let me go to you first here it is very simply what is turkeys aims what its strategic goals in syria over since the incursion into Northern Syria can you give us you know two or three major points what turkey wants to achieve. Actually to the u. S. For you point very clear the first. Ones to get rid of this. We can say. This is a we call it a y p or p y d this is the first and the most crucial. Point for turkey second play offs. To cleaning this area to put some syrian immigrants you know of you have three and a half million syrian emigrants in turkey to put down some of them to. Create some kind of buffer zone between turkey and syria or iraq. We can say is safe so on in syria and also i think this is my prediction that. There will be. How can i say its off to political table leg. Or sochi or astana for what they will you call it he it wants to be there on the table. So thats why you know three reasons more strategic. Change of turkey in our atmosphere ok but i have to i have to point out that you didnt say the word kurds once ok and thats really what its all about here you know sami ill be really honestly i can understand turkeys position ok i do understand and i dont necessarily agree with it but i will tell you something sammy i understand the position of all the Major Players when it comes to syria except for one country the United States i dont understand what it is doing in syria i mean what were all told is that you know the sacred cow nato must be preserved but u. S. Policy is driving a huge wedge between the two countries that have the Largest Military in nato i mean whos making this policy in the u. S. Well for the United States in syria most of the proxy forces that they rely upon have been either defeated or on their way of being defeated in syria what. Train or increased their presence in syria is this Dramatic Development of gaining the y p g practically really unfortunately im very sadly for from my point of view that the y p g the Kurdish Group has decided to make an alliance with the United States big mistake in general because you know. The kurds always choose the wrong side i mean historically they do this and they have done it again. Dan let me its very sad very sad dan let me go to you. What i mean what is the possibility that were going to see turkish u. S. Forces go head to head because the u. S. Seems to it seems to me its a policy of spite it is a spoiler made one see it lost the war assad still there and it wants to spite the russians in the iranians but thats really childish thinking when you think about it go ahead dan. Spoiler but i dont agree that this collision course necessarily on the between ankara and washington i mean from washingtons point of view the thing is they want their goal is to just we can and preferably destroy any independent force in the global south first the big strategy and so that includes the syrian state frankly that includes a potentially independent strong Kurdish Force and it includes turkey so if they see the turks and the white p. G. Tearing themselves apart thats that fits ok into into the u. S. Game plan and if theyre doing in the syria in science syria all the better so i dont see this is so odds with washington theyre going to go. They made this announcement they want to the border force and its put the spoiler on that but theres many ways to destroy a country is not many ways to build up a good many ways to destroy it so i guess what youre saying there is a method theres a method to their madness go ahead jump in understand go ahead go ahead. Because i would like to add something about american policy we are in turkey as you know government and people are mostly get. Try to create. A kurdish zone between turkey and syria and iraq in order to you know. In order to use this policy to educate turks persians and arabs and also it is good for. To be created is satellite not independent dependent United States creators on that is perfect for america and most of people in turkey most of interpretation and all you know calling this a debate think that we have some you know yeah america has Something Like that as a project. To create through all. Ok so the United States. I mean it began that the u. S. Is exporting democracy in lino in liberalism im sorry its a nice its a fairy tale but its not just for the border force go ahead dan go ahead they might have wanted to they might have wanted to create a little basically syria and kosovo why p. G. Areas in syria need to a fact of partition and it was actually not so much the announcement the border force but the announcement that the two thousand u. S. Troops the announcement by tillerson that the two thousand u. S. Troops were basing going to stay there effectively permanently i mean the wish list of what you wanted to achieve was made it a fact of permanent theyre not going to any of those things any time soon so that was what really told the turks look theyre basically going to stay us power. And on the ground presence is going to establish basically an independent state within a state and of course they could find that as i say ok so that partition was one possible way to destroy the syrian state but. The kurds and turks destroyed and destroying each other is another way to achieve frankly similar goals of the destruction of syria and we can. Go ahead sami jumpiness point of the program just just one other issue i think which needs mentioning is that ted kid unfortunately. Takes quite a bit of the blame for the destruction in syria for the support backing for terrorist groups inside syria. Its only a conflict has been with the with within syria and recent times as with the kurds of syria they got frightened because the United States backing started backing the i. P. G. But truly turkey should also shoulder quite a lot of the responsibility for the mayhem that has. Unfolded in both syria and in iraq by the way where they still have some forces inside iraq as you out and their policy towards the Kurdish People over many decades has been really bad it must be mentioned that the Kurdish People have suffered enormously from successive. Tens of thousands of kurds have died inside turkey and this socalled cleansing inside syria turkey is in effect committing aggression against a sovereign state the syrian state which has object in the early to the entry of terrorist groups so there are a dime if you cations here and that is the other point i wanted to raise is out there is some genuine friction between turkey and the United States since the coup attempt law right here which seems to have. Support of a. Janies go ahead in a symbol jump in yes. Yeah actually you know is in turkey you know Something Like forty years we have kurdish problems but this is not really really kurdish problems turkey. Was against not the Kurdish People until these people live you know in a very good standards according to if you compare with other countries such as syria iraq and iran. That became garrulous you know or terrorist groups turkish. One of the big problems and they. They are the main cause to kill Kurdish People even this