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Glenn's Show Prep

Silicon Valley investor breaks down what you need to know about Bitcoin

March 09, 2015
Staff

WRITER

While in San Francisco last week, Glenn met with Naval Ravikant, co-founder AngelList, a platform for start-ups to connect with potential investors and recruit talent. Naval's at the heart of Silicon Valley, and has invested in Uber, Twitter, Postmates, and more. Glenn wants to bring the stories of future technology being developed in Silicon Valley to people all over the country, so he made sure to talk to Naval about one of the biggest tech inventions people need to know: Bitcoin and Blockchain.

Glenn: Talk to me a little bit about Blockchain. We’ve had a conversation in the past about how right now if you go across the border, are you carrying $10,000 in cash?

Naval: You can carry it in your head. So, what Bitcoin does is Bitcoin essentially says that money and speech are the same thing. Let me give you an example. A Swiss bank account, if I know the number and I know the password to that, that is money. That is as good as money, and I can cross borders with it. So, they obviously can’t stop you from crossing the border with money if you have a bank account somewhere remotely.

Think of Bitcoin as a bank account in the cloud, and it’s completely decentralized, not the Swiss government, not the American government. It’s all the participants in the network enforcing. So, the ledger, the distributed database, it’s called a Blockchain, is held in the cloud by all the parties involved. It can be broken by any of them. It’s cryptographically too strong. You would have to compromise the entire network to take over Bitcoin. Not even the NSA can do it, and the value of the Bitcoin is a bounty on the Bitcoin.

So, if the value of all the Bitcoin in the world today is $5 billion, that’s a $5 billion bounty. Any hacker who can go break that, can collect a lot of that money, but they can’t, so it shows you how strong it is. Even the NSA couldn’t break the Blockchain today…I don’t think so. But because of that, that means that Bitcoin is protected. The value is protected. The money is protected. But notice what I said at the beginning, money is speech. That means that speech is protected. That means I can publish things into Bitcoin that no one can take away. I can publish WikiLeaks, for example, tracks of information into there that are irrevocable.

Explain that. Slow down. Explain that.

Blockchain is a giant database. That database has a $5 billion bounty on it which is the value of all the Bitcoin.

So, that’s basically a $5 billion reward. Hack me, and you’ve got $5 billion.

Correct, or something close to it. You may not get it all out, but an approximation, that’s a reasonable assumption.

I’ll take half a billion.

Sure. So, that’s the bounty that protects the Blockchain, and the Blockchain is a distributed database and with an infinitesimal amount of Bitcoin, I can write anything into that database. I think long-term, Bitcoin is a currency of the Internet. So, even if humans don’t use it, routers will use it. Web browsers will use it. Web servers will use it.

So, let me bring this to the real world.

Machines will use it.

Sony would use this for all of the contracts to be able to stop what happened to them.

Sony would use Bitcoin grade encryption, so Bitcoin advances encryption. You and I may use Bitcoin for a transaction to lock our contract or our money into the cloud. Someone in China may use it for speech. They might use it to get a message out to the rest of the world anonymously in a way that it cannot be pulled back. So, China may censor YouTube. China may censor Twitter. They won’t be able to censor Bitcoin. There’s no central authority. There’s no one you can go to and say we’re going to turn Bitcoin off. Turning Bitcoin off is the same as turning the Internet off, so the moment the Internet became truly pervasive, it was inevitable that speech would become pervasive.

Why are there such, I mean, other than the obvious—

The great firewall of China will fall.

That’s amazing.

In our lifetimes.

Why is there such pushback on Bitcoin, other than it disrupts everything?

It disrupts everything. If it works, it will be the greatest transfer of wealth in human history. Even if it doesn’t work as advertised, it may still enable free speech and anonymous speech to a level that large states, totalitarian states, would be uncomfortable with.

So, in other words, with the Blockchain, somebody in North Korea can tell us what’s happening in the prison camps, and they can show us the videos and the pictures, and it can’t be traced back.

Well, they’d have to be careful about it, but if they’re careful about it, it can’t be traced. It can’t be pulled back. It can’t be stopped. You can’t turn off Bitcoin without turning off the Internet. That’s how it’s designed. People forget what the Internet did was it connected every human to every human, and so because of that, it reduced the power of the elites. It reduced the power of mass media. It reduced the power of controlled media. No one can control the message anymore.

 

Trump's POWERFUL 10-point plan to TEAR DOWN the Deep State

Brandon Bell / Staff | Getty Images

Since 2016 President Trump has promised to drain the swamp, but with Trump's new ten-point plan, do we finally have a solid roadmap to dismantle the deep state?

In March 2023, President Trump released a video detailing his plan to shatter the deep state. Now that he is the President-Elect, this plan is slated to launch in January 2025. Recently, Glenn reviewed Trump's plan and was optimistic about what he saw. In fact, he couldn't see how anyone could be against it (not that anything will stop the mainstream media from spinning it in a negative light).

But don't let Glenn tell you what to think! Check out Trump's FULL plan below:

1. Remove rouge bureaucrats

U.S. Air Force / Handout | Getty Images

Trump's first order of business will be to restore an executive order he issued in 2020 that allowed him to remove rouge bureaucrats. Trump promises to use this power aggressively eliminate corruption.

2. Clean and overhaul the intelligence apparatus

SAUL LOEB / Contributor | Getty Images

Next, Trump promises to oust corrupt individuals from the national intelligence apparatus. This includes federal bureaucracies like the CIA, NSA, and other agencies that have been weaponized against the left's political opponents.

3. Reform FISA courts 

Handout / Handout | Getty Images

Trump's next promise is to reform the FISA courts, which are courts tasked with reviewing and approving requests to gather foreign intelligence, typically through surveillance. These courts have been unaccountable to protections like the 4th Amendment that prohibits the government from unwarranted surveillance, resulting in severe government overreach on American citizens, both on US soil and abroad.

4. Expose the deep state. 

Drew Angerer / Staff | Getty Images

Trump want to establish a "Truth and Reconciliation" commission that will be tasked with unmasking the deep state. This will be accomplished by publishing and declassifying all documents on deep state spying, corruption, and censorship.

5. Crackdown on government-media collusion

Andrew Harnik / Staff | Getty Images

Next, Trump will crack down on government "leakers" who collaborate with the mainstream media to spread misinformation. These collaborators purposefully interject false narratives that derail the democratic process within the country. The plan will also prohibit government actors from pressuring social media to censor content that goes against a particular political narrative, as was done, for example, in the case of the Biden administration pressuring Facebook to crack down on Hunter Biden laptop-related content.

6. Isolate inspector generals

MANDEL NGAN / Contributor | Getty Images

Trump promises to physically separate every inspector general from the department they are tasked with overseeing. This way, they don't become entangled with the department and end up protecting them instead of scrutinizing them.

7. Create a system to monitor the intelligence agencies

SAUL LOEB / Stringer | Getty Images

To ensure that the intelligence agencies are no longer spying on American citizens, Trump proposed to create an independent auditing system. This auditing system, created by Congress, would keep the intelligence agencies in check from spying on American citizens or political campaigns as they did on Trump's campaign.

8. Relocate the federal bureaucracy

SAUL LOEB / Staff | Getty Images

Relocating the federal bureaucracy, Trump argues, will keep the internal politics of the individual bureaucracies out of the influence of DC. He says he will begin by relocating the Bureau of Land Management to Colorado.

9. Ban federal bureaucrats from taking corporate jobs

J. David Ake / Contributor | Getty Images

To keep money ties out of politics, Trump proposes that federal bureaucrats should be banned from working at the companies that they are regulating. American taxpayer dollars should not go to agencies run by bureaucrats who cut special deals for corporations, who will later offer them a cushy role and a huge paycheck.

10. Push for congressional term limits

Chip Somodevilla / Staff | Getty Images

Finally, Trump wants to make a constitutional amendment placing term limits on members of Congress. This proposal has been popular on both sides of the political aisle for a while, preventing members of Congress from becoming swamp creatures like Nancy Pelosi who was just re-elected for her 19th term.

The Democrats are turning on Biden

Mario Tama / Staff | Getty Images

The election is over, Kamala Harris has officially conceded, and now the Democrats are doing some serious soul-searching.

After reflecting long and hard (approximately 24 hours), the Democrats have discovered the real reason Harris lost the election. Was it Trump's excellent campaign that resonated with voters? Was it Harris's off-putting personality? Or was it her failure to distinguish herself from the Biden administration's failed policies?

No, it was Joe Biden. All the blame lies on President Biden's shoulders. The Left sees no need to take any real responsibility for the landslide defeat the Democrats suffered earlier this week; just pass the blame on to 'ole Joe.

Here are the leading excuses the Left is spinning up to explain Harris's crushing defeat:

"Biden should have dropped out sooner."

Kevin Dietsch / Staff | Getty Images

This is the crux of the left-wing media's argument against Biden. They claim that if Joe Biden had dropped out earlier, Harris would have had more time to campaign and would not have had to carry around the baggage of Biden's abysmal debate performance. This could make sense, but what these commentators are conveniently forgetting are the years of propaganda these very same people promoted arguing that Biden's declining mental acuity was nothing more than a right-wing conspiracy theory. If Biden had been as sharp as they had told us, why would he have dropped out?

Also, if a lack of time was Harris's biggest issue this election, she sure didn't act like it. She was practically in hiding for the first several weeks of her campaign and she took plenty of days off, including during the last few crucial weeks. More time wouldn't have helped her case.

"Harris failed to distance herself from Biden."

Kevin Dietsch / Staff | Getty Images

This is media gaslighting at its finest. Yes, Harris failed to distance herself from Biden. However, that's because she, along with the rest of the Left, publically went on record defending Biden's policies and his mental acuity. By the time Harris became the nominee, she had already said too much in favor of Biden. Don't forget Harris's infamous “There is not a thing that comes to mind,” quote after being asked on The View if she would do anything differently than Biden. In a way, Harris couldn't separate herself from Biden without drawing attention to the greatest flaw in her campaign: if she knew how to fix the country, why hasn't she?

"Harris did the best anyone could have done in that situation."

Brandon Bell / Staff | Getty Images

But did she really? As mentioned earlier, she was noticeably absent for much of the campaign. While Trump was busy jumping into interviews, events, and rallies non-stop, Harris was MIA. Whenever Harris did manage to make an appearance, it almost always did more harm than good by highlighting her lack of a robust policy platform and her inability to string together a coherent sentence. Notable examples include her aforementioned appearance on The View and her disastrous interview on Fox News with Bret Baier. The point is, even considering the limited time to campaign she had, Kamala Harris wasnot the best person for the job and there are undoubtedly many other Democrats who would have run a much more successful campaign.

Glenn: I'm filled with hope. And you should be, too.

Chip Somodevilla / Staff | Getty Images

The election was a major blow to draconian globalist organizations. Now, we could have a true rebirth of freedom and the American dream.

Millions of people around the world were holding their breath on election night. I've talked to Europeans to try to get a bead on what’s happening over there. There are Europeans like you and me who are frustrated with their own globalist, tyrannical bureaucracies telling them how to live and what to believe. If Donald Trump didn’t win, where in the world would they look to for hope that this madness would stop? Which leader could they count on to stand in the gap against their globalist elites? They, too, had a lot on the line in our election last night.

But today brings hope, not only in America but for freedom-loving people worldwide.

We need to restore the balance of power in the federal government — the way America’s founders intended.

We know Trump is going to stop the madness at the southern border. He is going to deport serial criminals and sex offenders who entered our country under Biden and Harris' watch. The media will try to convince you that deportations are something akin to Hitler, but they turn a blind eye to their Democratic predecessors who have deported even more illegal immigrants than Trump. In fact, Bill Clinton deported more illegal immigrants than any president in U.S. history, shipping 11 million out of the country in the 1990s. In contrast, Trump deported less than a million during his first term, which is even less than the 1.8 million under the Obama administration.

Deportations of criminals who are in our country illegally is critical to protecting the safety of the American people, a practice that has been exercised by presidents for decades.

Our friends across the pond have been witnessing the destruction of their societies since EU globalists opened Europe's floodgates to immigrants in 2015. Crime is rampant, communities governed by Sharia law are multiplying, and their social programs are being pushed to a breaking point. Tuesday night gave them reason to hope. America is going to say, "No more," and perhaps this will be the rallying cry for our European brothers-in-arms to stand up as well.

The election was also a major blow to draconian globalist organizations. The United States will no longer be beholden to the Paris Climate Accords. Our nation will no longer give credence to the World Economic Forum. We won’t give the World Health Organization a single penny more. All these very well-planned globalist initiatives are going away.

But Trump can't act alone. Thank God we won the Senate. This is an incredible step forward, but for these big plans to come to fruition, we need the House. If the Republicans — actual freedom-loving, Constitution-abiding Republicans — don't have the House, you’re not going to be able to get things done except by executive order, which we don’t want to do. One reason things were so bad during the last four years is that Joe Biden simply signed executive orders to reverse everything that Trump accomplished, completely bypassing Congress. We have to do it the right way. We need to restore the balance of power in the federal government — the way America’s founders intended.

One of the most hopeful things Trump said Tuesday night is that we’re going to enter a new golden era in America. I believe him. He could have said that in 2020, and I wouldn't have believed him as much as I believe him now. That’s because Trump now has a team of people that's not exclusively comprised of politicians.

Bringing in somebody like Elon Musk is one of the most hopeful things for our country I've witnessed in my lifetime. I know that guy can cut spending. I know he will find the waste in our government because he's not a government guy — he's a businessman. He's going to slash all the redundancies that have been justified by career bureaucrats for decades. We have a chance of cutting our budget and creating a reasonable one.

Trump’s promise to cut regulations also spells hope for our country. He cut more regulation in his first term than any other president, but Biden and Harris have since added a mountain of rules. He will have his work cut out for him, but he will get it done. He must if this economy will roar again.

We could have a true rebirth of freedom and the American dream, and I find that really hopeful. So many Americans are tired of worrying about their kids struggling and seeing Bidenomics and regulation yank from their children's hands the possibility of the American dream that they attained. Donald Trump is the biggest chance of bringing it back.

Today, I’m filled with hope. Real, tangible hope. And you should be, too.

Editor's Note: This article was originally published on TheBlaze.com.

TOP FIVE liberal meltdowns to Trump's victory

MANDEL NGAN / Contributor | Getty Images

Conservatives are celebrating Donald Trump's election for what feels like the first major conservative victory over the past four years. But how are our liberal friends holding up? Has anyone checked on them recently?

Some of them aren't doing too well, and quite a few have an inexplicable desire to share their anguish with the world on social media. We've waded through a torrent of liberal tears to bring you the top FIVE best responses to Donald Trump's 2024 victory:

The Car Screamer

This first one is in a category we've dubbed, the "Screamers." These include people who have been so overcome with rage that they have lost the ability to communicate with words. Instead, they revert to a more primitive form of communication, usually composed of some combination of screams, shrieks, sobs, and wild gesticulations. There are dozens of "Screamer" videos across the internet, but this one takes the cake for the most animated and over-the-top.

Sunny Hostin's Meltdown

Just to prove that the daytime talk show "The View" is completely out of touch, host Sunny Hostin tried to rationalize Trump's victory using identity politics. Hostin dismissed the idea that Harris lost due to her less popular policy and instead suggested it was because of her race and gender along with the religion of her husband. She clearly forgot about JD Vance and his mixed-race family.

CNN Watches the Election Crumble Around Them

In this clip, you can actually hear the defeat setting in as the CNN host realizes that Kamala Harris is losing. When asked to see a map of the counties where Harris was over-preforming Joe Biden in 2020, Jake Tapper was flabbergasted when the map came up blank.

The Calm Coper

At least this guy isn't screaming. Instead, he regurgitates the lies and propaganda fed to him by the media with a strangely robotic cadence. He's trying to project calm intelligence, but all he is really doing is coping and seething.

The Screamer Compilation 

Just in case you didn't get enough of, the "Screamers," here is a handy compilation that perfectly sums up the liberal response to Trump's victory.