Really so jamison i want to look at a piece from Forbes Magazine that somebody was tweeting about their article said that 15 percent of American Adults now own some form of crypto currency more than half of those invested for the 1st time in the 1st half of 2020 on average they invested about 67500000000. 00 in crypto currency roughly 4000. 00 per person so locked down stimulus money has been good for a lot of people theyre pouring their money into robinhood up and apparently in many people are buying crypto currency if theyre buying bitcoin which they should be instead of crypto what do they do now like. You know theres no bailout theres no 2nd stimulus theres no sort of moral hazard available in the big quiet space so what do they do once they get that big client said they take it off in exchange should they put it on a hard while which they do buying is only the 1st step generally when youre buying in this space youre not actually buying bitcoin youre buying the promise of a bit coi
Might have a website that says you own a certain amount of money a certain amount of that coin a certain amount of whatever but when it comes down to it at the end of the day theres Counter Party risk and as long as someone else is actually holding on to that asset then it can be taken from you or any number of things can go wrong you might not be able to actually access it when you need it so the 1st step is you know getting that iou the next step is learning how you turn that into the real asset that you control yourself so cost offer is Key Management of all the newbie that there are who have a palate bazza big coin this year what are the key ways why should they hire you to manage their gaze jamieson well the best way to describe what we do is actually we help users help themselves we dont want to hold peoples keys for them that would just make us another type of bank instead we want to give people soft ware that is user friendly and we want to give them a level of service that the
You the same question a you or d an l because that will really dictate what kind of policy is necessary to get out of this lump go ahead ben. Well i think policy has a lot lou with what type of shape it is so right now were in a flat line and its because we have shutdown orders that are essentially telling people not produce so the question is when shutdown orders are lifted what the normal Economic Activity and recovery look like and i dont think it looks like a b. Because that would imply that were going back to the economic world we all lived in at the start of the year but the virus is still going to be with us so opening back up means taking account of that and weighing that in our economic transactions so restaurants working at half capacity or a 3rd capacity whatever customer is an entrepreneurs the state airlines that much less than capacity all of these things dont abide by bouncing back to where we were no i think whats important is that we dont have dumb Government Policies
Waters. I got those are your headlines of one of those stories you can go to r t dot com for more information right now stay tuned for more great programming this is our international. Hello and welcome to cross talk were all Things Considered im Peter Lavelle with good reason Public Discourse is focused on addressing and finally containing the code 19 pandemic the focus is on devastated economies were in a recession will it morph into a depression will the recovery be you. Know. Crosstalk economic recovery im joined by my guest Benjamin Kyle in lubbock he is the director of the Free Market Institute a professor of economics at Texas Tech University as well as the senior fellow with the independent institute and in los angeles we cross to he is an independent economic and geo political analyst as well as a former commodities trader all right gentlemen crossed up rules in effect that means you can jump in anytime you want and i was appreciating lets go to los angeles 1st year time i sai
Manage their gaze jamieson well the best way to describe what we do is actually we help users help themselves we dont want to hold peoples keys for them that would just make us another type of bank instead we want to give people soft ware that is user friendly and we want to give them a level of service that theyre not going to find with any of the custodial providers out there where we are showing them how they actually create and manage their own keys and therefore control of their own coin and that is rio where i think a lot of the Value Proposition of bitcoin risk lying is because you have the ability to be your own bank but unfortunately it can be a very early very complicated and tricky waters to navigate because there along with this power comes a lot of responsibility and a lot of ways that you can shoot yourself. Im a foot and that is why over the past decade many millions of bitcoin have been lost due to various mistakes that people that made we want to help people avoid all