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[190.48 --> 195.56] So the people that bought them actually, you know, have, I think, tripled the value so far. |
[195.56 --> 203.92] So is this becoming a way for people to go about raising funding in a different way or is this unique to Brave or how they operate them in a browser? |
[204.80 --> 206.46] So it does a couple of things, right? |
[206.50 --> 212.16] So when you have certain types of these coins, you want to get a bunch of value injected into the network. |
[212.16 --> 216.58] So you do a big public offering and then you've kind of bootstrapped a bunch of value around it. |
[216.58 --> 221.12] Or you can, you know, give a bunch of these coins out and then get that money. |
[221.62 --> 226.56] Now, the way that that's treated by the IRS is like just straight up capital gains. |
[227.50 --> 231.06] So you're going to get a pretty big tax penalty unless you do. |
[231.40 --> 240.72] And I imagine that everybody who's raising more than a couple million dollars on these ICOs is probably doing this where they're filing some kind of company offshore to avoid some of those tax penalties. |
[242.12 --> 242.56] Yeah. |
[242.56 --> 248.04] Do we want this to be in the pre-show or somehow meld this into the ending? |
[248.06 --> 249.78] I thought we were, we're live. |
[249.88 --> 250.30] We're live. |
[250.40 --> 250.88] Okay, fine. |
[250.94 --> 251.24] We're live. |
[251.54 --> 252.16] Put that in. |
[252.50 --> 252.86] Yeah. |
[252.98 --> 253.86] You can just edit it. |
[253.86 --> 254.40] We'll do it live. |
[254.76 --> 255.78] We'll do it live. |
[255.86 --> 259.70] So listeners of this particular JS party, it's a different type of show. |
[260.14 --> 261.38] Normally you never hear me. |
[261.80 --> 271.12] I'm just behind the scenes hoping that everything goes well and keeping the mice on the spinners. |
[271.12 --> 273.26] You know, creating electricity and stuff. |
[273.44 --> 274.88] What does that mean? |
[275.64 --> 277.24] You know, the mouse race. |
[278.08 --> 278.38] I don't. |
[278.84 --> 280.18] I was thinking fidget spinners. |
[280.28 --> 281.44] I thought this was like a millennial. |
[281.56 --> 281.84] Yeah, me too. |
[282.28 --> 282.76] Well, sure. |
[282.92 --> 285.02] The mice are standing on the fidget spinners. |
[285.92 --> 291.16] And that's creating electromagnetism, which turns into electricity, powers the house. |
[291.36 --> 292.36] Who does that? |
[292.86 --> 293.94] Well, some people do. |
[293.96 --> 294.74] Is that a real thing? |
[294.74 --> 298.22] Uh, where do they do that at? |
[298.26 --> 304.74] They did that in, uh, in neighbors to the movie. |
[306.40 --> 310.66] Remember they were trying to like take down the sorority and they pulled the power and |
[310.66 --> 315.64] it kept going because they had all the minions in the other room riding like, you know, unicycles |
[315.64 --> 318.16] or whatever, uh, stationary bikes. |
[318.16 --> 320.20] We definitely are keeping this in. |
[320.44 --> 321.20] This has to be it. |
[321.50 --> 323.44] That's how we power the house, you know? |
[324.76 --> 331.06] So this, but back to this, uh, this unique thing, uh, basic attention token. |
[332.60 --> 335.28] It's so foreign to me, you know, Ethereum based. |
[335.42 --> 336.34] We've done shows on this. |
[336.44 --> 337.16] I get it. |
[337.44 --> 338.50] I understand blockchain. |
[338.70 --> 340.26] I understand cryptocurrencies. |
[340.26 --> 343.72] I keep hearing more and more that they're coming of age. |
[343.82 --> 348.14] They're about to be mainstream where they are mainstream and just there's a small mainstream |
[348.14 --> 353.84] who knows what's the state like where, where are coin in general being used? |
[353.90 --> 355.84] How, what is the state of this ecosystem? |
[356.52 --> 357.08] Cryptocurrency. |
[357.32 --> 357.56] The dark web. |
[358.24 --> 359.08] The dark web. |
[359.30 --> 359.48] I have no idea. |
[360.04 --> 360.52] I don't know. |
[360.58 --> 361.98] I don't know anything about this. |
[362.12 --> 366.70] I know that like libertarians like Bitcoin and that's about it. |
[366.70 --> 372.88] Um, I mean, yeah, it depends on what you mean by that, right? |
[372.96 --> 375.64] Like, so there's a bunch of different coins now. |
[376.00 --> 384.00] Um, I think that the primary ones right now are probably Bitcoin, Ethereum and Litecoin. |
[384.68 --> 386.26] Um, Dogecoin. |
[387.22 --> 390.40] Dogecoin is, is not, I think a major player at this point. |
[390.52 --> 392.52] I have 75,000. |
[393.14 --> 393.92] They better. |
[394.40 --> 395.68] You have 75,000 Dogecoins? |
[396.14 --> 396.46] Yeah. |
[396.46 --> 398.16] Those are probably worth something actually. |
[398.78 --> 399.70] No, it's not. |
[399.80 --> 401.58] It's worth like $20 maybe. |
[401.78 --> 406.90] It's the only, I like, it was the only one that compelled me to like figure out how to |
[406.90 --> 409.36] do mining and I was like, cool. |
[409.52 --> 411.18] And it's worth nothing. |
[411.74 --> 412.62] Oh, you mined them. |
[412.72 --> 412.84] Wow. |
[412.92 --> 413.12] Okay. |
[413.40 --> 415.04] Um, I mean, I've bought some of them. |
[415.30 --> 420.20] Um, I think honestly, like if you're just out with friends and you want to transfer some |
[420.20 --> 425.10] money between people, um, it is surprisingly the easiest way to do that currently. |
[425.10 --> 428.94] Like if you just have, um, uh, what's the app called? |
[429.00 --> 429.88] Let me look at my phone. |
[430.22 --> 430.62] Coinbase. |
[430.76 --> 434.08] If you just have like Coinbase on your phone, you can just use your phones to transfer money. |
[434.52 --> 437.08] Um, and it's, it's like almost instantaneous. |
[437.22 --> 441.22] Bitcoin takes like 10 minutes, but it's, you know, it's, it's actually just kind of a better |
[441.22 --> 442.46] way to trade around money like that. |
[442.46 --> 447.74] And you're seeing more and more services set up support for accepting Bitcoin as currency. |
[447.74 --> 450.72] So, um, Bitcoin and, and some other currencies as well. |
[450.72 --> 457.00] So what I was talking about before with, um, if you pull out it out in cash, you, you've |
[457.00 --> 458.46] made capital gains on that money. |
[458.78 --> 464.00] Um, so there's a lot of incentive to just keep the money being exchanged for other value |
[464.00 --> 464.98] inside of the system. |
[464.98 --> 470.94] Um, because it's not being treated as a currency, which is a weird thing to think about, which |
[470.94 --> 475.20] is like by not treating it as a currency, you've actually, um, inflated people's use |
[475.20 --> 478.36] of the currency in a way because they don't want to play the capital gains. |
[478.62 --> 482.52] So what you're saying is when you pull it out, so you take it from, you take it out in cash, |
[482.52 --> 482.94] right? |
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