5 key takeaways from Glenn's special show on Bitcoin

May 14, 2014

Writer

If you've been listening to the show for the past week, one thing is abundantly clear: Glenn knows almost nothing about how Bitcoin works. And to be honest, neither do the rest of us on the team. So Glenn and his EP Tiffany put together a special show where experts explained exactly what Bitcoin was and how it works. Elizabeth Ploshay, a Bitcoin Foundation board member, Jeffrey Tucker of Liberty.me, and Kristov Atlas, the author of Anonymous Bitcoin, all joined Glenn for this special Bitcoin episode.

Before you get started, here is a quick Bitcoin tutorial:

So what were some of the key points from tonight's show?

1) Acceptance of Bitcoin is rapidly expanding

Bitcoin is now an acceptable form of payment at 60,000 merchants worldwide, 50,000 of those added in one year. Glenn said: "I will tell you I love the innovation of it. People are trying to find a way out of the mess politicians and the central banks have created. The free market always wins. Big government can rack their brains all day long, and they will never, ever, ever, be able to duplicate the innovative spirit of the collective American public. One guy has an idea, and it starts like a grass fire."

2) It’s both a currency and a payment system.

Jeffrey Tucker: If you took away the payment system associated with Bitcoin, Bitcoin would be worth zero right now. It’s the payment network that gives it value. It’s both a currency and a payment system. That’s a little strange. We’re used to thinking of those things as separate. You know, we think of like dollars, and then we think of like PayPal or something or Visa, MasterCard. With Bitcoin, they’re both united. Payment system and the currency are one single thing, and it’s the sheer efficacy and brilliance of the payment system that led Bitcoin to have value.

Bitcoin lived on the Internet for ten months at a zero price, and it was only once the payment system was tested and tested and tested again, the market said this is extremely cool, this is amazing. You can transfer stuff from here to there, anywhere in the world, direct peer to peer. That’s a valuable thing to have, and then it obtained value.

3) You can actually use it to buy stuff in the real world

Elizabeth Ploshay: You can use Bitcoin for so many things. You can use it to buy plane tickets. You can buy food with it. You can use it for charitable donations. The best thing about it is you can reach people around the world. There are 2.5 billion people around the world who don’t have bank accounts. You can send money to those individuals without a bank account, so practical things but also helping people in need.

4) There are no central banks like The Federal Reserve

Elizabeth Ploshay: Trustless peer-to-peer system, direct transfer of funds, no trust in one central point of failure.

Kristov Atlas: When it’s centralized, when we have the government or some company doing it, then things are easy. They can mint the units of currency. They can validate the transactions are not fraudulent. When you have a peer-to-peer basis, then you have to make sure that enough honest people are able to do all the stuff that the system is going to work, and that’s the genius of Bitcoin is they figured out ways for people to validate these transactions and to mint the new coins in a fair way that everyone is going to agree on and that’s going to be predictable in the future.

5) It has a limited supply

Kristov: There’s social and economic forces at play basically. So if you wanted to change this limit, there’s about 21 million Bitcoins that are supposed to ever be in existence, and we’ll get to that point, we’ll be mined out of Bitcoins somewhere around the year 2140. If you wanted to change that, you would have to convince all these people running Bitcoin software that they need to agree to this change, they need to run a new version of Bitcoin based on changing this $21 million limit.

But we know that investors all value Bitcoins based on everyone agreeing that there is this $21 million limit. If you try to extend that, it’s going to debase their investment. Investors are going to dump their Bitcoins right away. They want to get out of it. Everyone knows this, and so there’s no way you’re going to convince people to switch over to this new version.

Who is Pam Bondi, Trump's new AG pick?

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With Matt Gaetz out of the picture, President Trump has already named former Florida AG Pam Bondi as his latest pick as his US Attorney General.

As US Attorney General, Bondi will be placed at the head of the Department of Justice, the most crucial role in Trump's plans to root out the deep state. As Glenn discussed on his radio show, the Biden White House has weaponized the Department of Justice, against President Trump in an attempt to thwart his 2024 re-election. The Department of Justice is crooked to the core, and it will take a herculean effort to bring enduring reform to this pivotal government agency.

Does Pam Bondi have what it takes to lead the Department of Justice? What does her resume look like? Does she have any skeletons in the closet that the Democrats could use against her? Here's everything you need to know about Pam Bondi below:

Bondi's Resume

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Bondi started her career as a prosecutor working for the Hillsborough County Attorney's Office where she handled countless cases that ranged from domestic violence to murder. In 2010 Bondi made history by becoming Florida's first female attorney general. She spent her time in office fighting back against Florida's opioid crisis and openly challenged Obamacare.

Bondi worked with the first Trump administration, using her experience fighting the opioid crisis in Trump's Opioid and Drug Abuse Commission. After Trump was impeached for the first time, Bondi joined the team of defense lawyers fighting back against the prosecution's allegations.

Bondi has spent the last four years working for a Florida-based lobbying firm, but she still showed support for President Trump by making appearances alongside him during the New York City hush money trial.

Bondi's Dedication to fix the DoJ

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Judging by her track record and the testimony of her colleagues, Bondi is more than capable of tackling the Department of Justice. Bondi has a record of following and enforcing the rule of law and has spent much of her career making communities safer. Bondi has firsthand experience with political elitists and corruption, having worked at nearly every level of the government from the bottom to the top.

Bondi stood by Trump as he faced impeachment and stayed by his side as he faced waves of lawfare after 2020. It's clear that Bondi has great respect for President Trump and is deeply familiar with the weaponization of the Department of Justice. It seems like she has what it takes to fix the system.

Bondi's Potential Controversies

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The Mainstream Media wasted no time digging up dirt on Bondi, looking for anything that might stand between her and a Senate confirmation.

The biggest story circulating the media involves a 2013 case about "Trump University," a now-defunct company that offered courses in real estate, entrepreneurship, and other similar courses. In 2013, the New York Attorney General's office went after Trump University due to reports that the program was a "scam." Bondi began a similar investigation, which allegedly came to a halt after she received a $25,000 check from the Trump Foundation for her re-election campaign. Bondi has never been formally accused of illegal activity, but now that she is under the national spotlight, she could face serious scrutiny.

Bondi's tenure as a lobbyist has also been called into question. She was registered as a lobbyist for several foreign and corporate entities, which could be seen as a potential weakness or conflict of interest—or at the very least bring her dedication to fighting corruption into question.

AI Jesus and other INSANE new uses of Artificial Intelligence

Glenn has repeatedly warned about the dangers artificial intelligence poses to humanity. Yet, it seems like every week, some new AI project seems to inch us closer to that worst-case scenario.

It's not all bad. Even Glenn could resist the urge to buy an AI-powered, flamethrower-wielding, robotic dog to accompany him on his ranch. The future is here, and these are threeinsane new ways the power of AI is being harnessed — for better or worse.

AI Jesus

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Many have wished to have a face-to-face conversation with Jesus, but this probably isn't what anyone had in mind. A church in Lucerne, Switzerland recently teamed up with scientists and computer experts from the nearby Lucerne University of Applied Sciences and Arts to create a digital duplicate of Christ designed to listen to confessions and give scripture-supported advice to those who ask. The computer even creates a hologram image of Jesus that talks to people in real time. The AI was trained with the New Testament and "religious information found online," and is fluent in over 100 languages.

While some are impressed with his answers to moderately complex theological questions, many are skeptical, claiming that giving a machine the face and name of God is a form of idolatry. Others worry that it will turn Jesus into a "woke warrior."

AI Coca-Cola Ad

The holiday season is upon us, and Coca-Cola has released its newest Christmas ad campaign. These latest commercials feature shiny, Coca-Cola red semi-trucks driving through an idyllic winter wonderland on a mission to deliver soda to a festively decorated town — standard holiday ad fare. But this year, Coca-Cola decided to put a "futuristic spin" on their ad campaign — the commercials are all AI-generated. It doesn't take a detective to spot the tell-tale AI hallmarks, from truck wheels that don't spin as the truck is driving to the eerie expressions of the people in the ad that twist and contort in creepy ways. The holiday magic is lost.

AI Grandma

A British telecom company, Virgin Media O2, unveiled Daisy, an AI chatbot designed to scam the scammers. Daisy is designed to sound and talk like an elderly woman and is tasked to deliberately connect with telephone scammers (who typically target older people) and waste their time with heaps of meandering chatter so that scammers have less time to target real people. Daisy has already proved capable of fooling scammers into long phone conversations, which ultimately end up fruitless. Can you think of a better use of AI?

The THREE ways RFK Jr. will Make America Healthy Again

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One of President Trump's most popular campaign promises was to "Make America Great Again," and he has employed the help of his former opponent, RFK Jr., to make that promise come true.

In an interview with NPR, RFK Jr. revealed the three directives Trump has tasked him as the new head of the Department of Health and Human Services. These directives aim to cut out the "cancer" that Glenn exposed in his latest TV special that has spread throughout theentire federal government.

Here are the three directives Trump gave RFK Jr.:

1. Rid health agencies of corruption and conflicts.

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It is no secret that the departments that fall under the HHS, such as the FDA, NIH, and CDC, are rife with corruption. After the COVID lockdowns raised suspicion that these federal agencies did not have the American people's best interests at heart, Americans have been increasingly distrustful of these institutions. Glenn exposed several instances of corruption across the HHS, from Dr. Fauchi's Covid powertrip to the insidious relationship between private entities like Big Food, Big Pharma, and the federal agencies that regulate them.

RFK Jr. has been one of the most vocal critics of the corruption that has turned these federal agencies against the very people they were created to protect and is the best person to reform these institutions.

2. Return agencies to the gold standard of empirically based, evidence-based science and medicine.

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Under Biden, the HHS has degraded even further than it had before. Scientific methodology and empirical data are no longer the backbones of these institutions. They have been replaced with DEI and other woke agendas. The Department of Health and Human Services is the second largest federal agency, only behind the Pentagon, with a budget of 1.7 trillion dollarsand over 83 thousand employees. The opportunity for waste and negligence is monumental.

Biden appointed former California Attorney General, Xavier Becerra, to the head of HHS, along with Rachel Levine, a transgender woman, as the Assistant Secretary for Health. Before long the second-largest federal agency started looking like a university DEI office, with hundreds of DEI hires adding to government bloat. Instead of battling the diseases and sicknesses that plague our country, the HHS spent the past four years going after pro-life investigators who were exposing how Planned Parenthood sells body parts of aborted babies, opposing the merger of religious-based hospitals to protect transgender and abortion "rights," and wrestling over Obama-era contraceptive mandates with a group of Catholic nuns. This is quackery and waste on an unprecedented scale.

RFK Jr. is tasked with rooting out the corruption that sprang forth with the Biden administration's DEI agenda and put science back in our health policy.

3. End the chronic disease epidemic with measurable impacts within two years.

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Today, despite our modern technology, Americans are sicker than ever before. 129 million Americans have at least one chronic disease, 42 percent have two or more, and 12 percent have more than five. Life expectancy is at a twenty-year low despite the fact that we are spending more than ever on health care. Even our children are sick, with a staggering 40 percent of school-aged kids having at least one chronic disease. One in nine kids has ADHD, and one in 54 has autism, both representing a steep increase over past decades.

America is sick, and Big Pharma is just rolling in the profits. This is where RFK Jr. comes in. He aims to find the cures and preventions to these diseases and make Americans healthy instead of lifelong patients.

POLL: Is Matt Gaetz in trouble?!

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Trump is assembling a dream team to take on the deep state that has burdened the American people for far too long.

It's no surprise Democrats have been pushing back against Trump's nominations, but one person in particular has been experiencing the most resistance: Florida Rep. Matt Gaetz, Trump's pick to serve as his Attorney General. The controversy centers around a years-long House ethics probe regarding sexual misconduct allegations made against Gaetz several years ago. Despite the FBI conducting its own investigation and refusing to prosecute Gaetz, his nomination re-ignited interest in these allegations.

Democrats and some Republicans demand the House Ethics Committee release their probe into Gaetz before his Senate confirmation hearing. Conveniently, earlier this week, an anonymous hacker obtained this coveted report and gave it to the New York Times, which has yet to make the information public.

Glenn is very skeptical about the entire affair, from the allegations against Gaetz to the hacker's "anonymity." Is it another case of lawfare by the Democrats?

Glenn wants to know what do you think. Did Gaetz commit the crimes he's accused of? Will he still be appointed attorney general? Let us know in the poll below:

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