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... I ... we ... welcome to Digits I'm slowing Constable ... Ben Cohen has been a popular topic in the headlines over the last year ... can the digital currency breakdown become a major player in twenty fourteen joining us now to discuss this ... with all that much is it consulted hearing found that an internationally recognized the lead on digital money and identity ... welcome to Digits thanks for coming with them as always we followed news over the weekend that Europe issuing some warnings about bitcoin ... and you know what that what of its lead to more beloved to post embrace it you say that when he misses the point that the current steep of a Bitcoin ... the thing is that the real story what is the real story ... that's right I think you this really to cost of the coin the isthe is bitcoin the technology ... in the open distributive nature the cryptographic principle of the genuinely kind of knew why ... the maintaining records ... and then this one uses it which is is common to use the courts ... and of course because the technology is ... called the content ... and noble people understand that ... that tends not to talk so ... where's the currency has these great stories about people buying Lamborghinis the goes up and down the Eagles on Sunday ... was seen as the real store MSFT Justice didn't dismiss the pricey side of the people I know but it is is that the currency house to be a unit of account store of value nonunion extension we have seen in the last few weeks and is in the store about you ... if you lose fifty percent ... initial period Yukon really keep unit of account new console will the volatility can produce at the time the King could ... use of the bigger issues and forty talked about this that no one centralized way of doing business ... I can actually be good thing for the stock market and fall of a security sis well would be very interesting the walk of us that ... there are general costs of problems about transferring assets between people and these are the main get the half becoming very clever wines that there was a very expensive ones I if I if I said he was still awesome corporate April something like that ... if you think the man awoke because it's the clearing and settlement of bookkeeping ... you know what ID like if I Forstall from you you just email it to me and the way and everything else ... cite the way ... that would really pm due to production costs ... and reduce the complexity ... but it will also at the transparency because of the key elements of the coin of course is that all the transactions are recorded ... in the low to aid in equity to total could ... so when you combine the two dudes costs potential political pressure for more transparency in certain markets ... you can see the peak wait is that is a solution to across the problems ... and I think that's what you see these PCs tiny ... venture capitalist and investing a lot of money ... now ... you you mention to all this electronic play and and and and it's no longer ... know ... the the guys usually screaming at each of us ... to dig up it's it's ... it's a paper and given the jostling of reading what not ... to risk come when I'm getting hacked his oversight of the protected suffered a if you happen to own some because we can see one of the attractions of something like Bitcoin is that it's an open credit score any politically source code in study and make sure there are now two ... new polls of pretzels and so they can also exploit them for that very same reason I can to get in there and see whether in the polls and exploit to mind ... is that that when you look of the size of the community is working on the problem does arise exposed to very quickly I think that sign today actually is is much more it's a much better way of doing things ... that than trying to do things in the top ... so that the crypto creepy side of it the security side ... ICI more come to its ... relevance to this nation to do with authentication ... because of all this pic when one suggests a cute but of sports ... crosswords ... that is if you buy possible to be a lot better off ... had a secure but crosswords ... but that's true bank accounts a mean that's a gentleman's open to control them ... industries looking to sell in May the lack of effect entrusted to technology this the exciting thing ... a new WEXLER but I like running a tight ... watch off consult Hyperion ... the ... shapes on on site also and this is deadliest J live