Welcome on. I know it's going to be a very interesting session. I've listened to Linda, speeches, talks and always I've always booked myself for her sessions. And so looking forward for her speech now and I'll hand over to Linda. I'm going to begin with appreciation. Thanks for inviting me and thanks for attending. I know most of you spend a lot of time staring at a screen. And so if you think I have something worthwhile to say and you're giving me an hour of your life, I really, really appreciate that. I'm going to share my screen now. Is that okay? Yes. This is good. This is good. Okay. So on the first slide, you have my contact information. If you don't get a chance to ask a question today for some reason, please send me some email. It's Linda at lynda rising.org or let's connect on LinkedIn or I'm also on Twitter. As we go through the slides, you will see there is no copyright. So if you would like to have a copy of the slides and buy that, I mean the PowerPoint, you can change it. You can use it to have a conversation about this topic with your colleagues or maybe even your family. I'm happy to send you the PowerPoint and it's all yours. You can do whatever you want. We're going to talk about elephants. I know it seems a little strange, but it's based on the work of a couple of behavioral economists. I think everyone should read this book. It's called thinking fast and slow and I know that many of you have heard of the book. You might have bought the book and then you read one chapter and you gave up because it's a difficult book to read. But it's so important that I finally began to give a talk that summarizes the models in the book. So you can search on that talk. Just go to YouTube, search on Linda Rising, thinking fast and slow. I'll give you an overview of what's in the book. It's about thinking and how we make decisions and solve problems. Nit Daniel Kahneman outlines a model for how we think. He says your brain behaves as though it has two pieces, two modes. One of them is called system one and the other system two. System one is the unconscious mind. That's the fast part. The part that never sleeps. The part that contains enormous amounts of information about your expertise. It can also handle an enormous throughput. Look at that. 11 million bits per second. System two on the other hand, well, that's the part that we think does all our thinking. It's the very small, the very slow, the very linear mode that we use for solving problems. Unfortunately, we don't have any access to system one. It's the unconscious. Now, this is Kahneman's model. All of his research is based on it. And it is a powerful way to think about thinking. And in it, he describes how big system one is in terms of not only processing power, but also how many of our decisions, how many solutions, what part of our thinking is involved. He says it's like an iceberg that we know the part below the water is huge. He said that's like system one. The part above the water. Well, that's like system two. You can see the part above the water. So that matches the metaphor of two systems. Now, later psychologists have said that is okay as far as it goes. But what we learn now about system two is that it's much smaller than that. So if you can look at the right hand peek, and you can see that little tiny snowball, that little snowball, that's more like what system two really is. And the rest of this above water, and all of this below the water, all of that is system one. System one, the unconscious is enormous. Now, Onaman's models, I think explain a lot. I think right now, they're a valid way of looking at how we think. We know that all models are flawed, because they ignore certain things, and focus on others. They are abstractions. George Box, a famous statistician said, all models are wrong. But some are useful. So I'm going to introduce you to a companion, abstraction or model that matches up with condiments. It was created by Jonathan Hype. He introduced it in his book, The Happiness Hypothesis. But no one really heard of it because the happiness hypothesis is more of an academic book. I don't know anybody except myself who actually read the book, but everyone read Switch. It was a book by Chip and Dan Heath. And in it, they refer to this other model, the one created by Jonathan Hype. And I like it for two reasons. One, the mapping between Hype's model and condiments is so obvious. The conscious, slow, linear thinker, that's the rider. The big, enormous unconscious system one. Well, that's the elephant. And now Hype's model has something that condiments model does not, which is the path. So our brain behaves as though we had a little tiny rider on top of a large, very powerful elephant, and we are traveling on a path. So I have been making this comparison now for years. And I have been saying that if you want to talk to someone who doesn't agree with you, imagine that you are talking to an elephant. That metaphor has helped me in my conversations with people who are resistant to change, see the world differently, have a different point of view. Instead of thinking that the best way to convince someone is to enumerate facts, outline a logical argument. Now I recall what Jonathan Hype said, you can't change people's minds by utterly refuting their arguments. If you want to change people's minds, you have to talk to their elephants. And imagining that has helped me. Of course, system two is there. Of course, the rider is always involved. That's the conscious mind. That's the part we identify with in ourselves. That's the part that is logical and reasonable. That's the part that directs to the extent that it can. The problem is the rider often gets stuck, often struggles with analysis paralysis, and has the illusion of control. When really, the decisions are being made by the elephant. And that maps very clearly to Kahneman's model. We want to believe that system two is in charge, but it's really system one that makes all our decisions. And remember, it's unconscious. The elephant is really in charge. Well, I wrote a couple of books with my good friend, Mary Lynn Mans. And whenever I talk about anything, I always call up patterns from these two books. And I'm hoping that if you have read the books, that if I call attention to some of these patterns that will help tie together how we make change. And now Kahneman's model and Heitz model. So the first pattern is called personal touch. And if we're going to have someone be less resistant, then we have to talk to the elephant differently from the rider. We want to understand how the emotional elephant, the unconscious mind, how they are feeling, what emotions they are experiencing. At the same time, we realize the very small conscious mind, the rider, that's the rational part. And that part of the thinking process is rational and does pay attention to facts. Now what's missing in Kahneman's model that is helpful is the path. We know it makes a difference. The elephant wants to go along the easy path. And sometimes that's all it takes. Not arguing facts with the rider. Not necessarily making the elephant feel good about the decision, but simply making the path easier. Jonathan Heitz says, we are usually focused on ourselves. We don't take the time to see the world from the point of view of the other person. And that means for the other elephant, what's the path like? Where are they going? Does it match their goals? Are they happy? Of course, we do have to talk to the rider. I call this keeping the rider busy. Yeah, the rider likes facts, wants to know some thing about the data. If you have any information, that's very useful to the rider, even though we know the rider is not in charge. And the rider often gets stuck. The rider likes to solve problems. So tends to be negative and see what's wrong in the world. So one of the suggestions from the Heath brothers is to give the rider some data and say what works? What's working well? What are the bright spots? And how can we build on those bright spots? So we're going to focus the rider by directing the attention of the logical rider to what's working well, so that now instead of being caught in a morass of negativity, we'll see the world more positively. How can we replicate those bright spots? We tend to get a little bit heavy on data thinking that this is how decisions are made. When really it's only of interest to the rider, the elephant doesn't care. If we spend too much time on data and facts, then we're going to overwhelm the elephant, who's really more interested in feelings and stories. And we're going to push the rider into analysis paralysis. So we need just enough data, but let's not get too heavily involved with too much. Yes, okay, we know it's important. Yes, we know facts can lead people to make better decisions, but confirmation bias always gets in the way and we can ignore facts that don't agree with our point of view. So facts have limited influence. What's important are stories. The stories that our system one constantly tells us about how the world works and especially how we fit into that story. This is really fiction. The story that our brains create for us really has nothing to do with reality. We think it does. We think we see reality clearly, but it's just our way of looking at things. Jonathan Haidt says we tend to think of ourselves as scientists looking at data, looking at evidence when really we're more like lawyers. We look for flaws in others points of view and say therefore these people don't understand reality. I on the other hand, I see the world clearly. But what does the elephant like? The elephant likes feelings. The elephant wants you to care about its feelings. Most of the time when the elephant is being resistant is because it's terrified. It doesn't know what's happening and you need to reassure. You need to make the elephant feel okay. The primary way you have of doing that is to tell a story. Tell the resistant elephant a story and it should have a happy ending. And it should be a story that the elephant can identify with so the elephant can say, oh, that's just like me. That's just like my problem. That's just like the path I face. Elephants like stories about other elephants that are just like them. And of course, it's even better if you can. Well, the pattern is called do food. Elephants love peanuts. So while you're telling a story, don't forget the peanuts. The most important pattern in the book, Fearless Change, is the pattern for which the book is named Fearless. The way you overcome fear on your part or on the part of the elephant is simply to reassure the elephant that you are listening. I like Chip and Dan Heath's description of good listening. They say, be a trampoline.  You give feedback. Say what you heard. Elephants want to know that that you're listening.  And this takes time. Building trust. Getting people to move in a direction that you choose. It doesn't come easily and it doesn't happen quickly. So Fearless and stay in touch. You can't just tell one story or make one small connection and feel that it's once and done. You must go back. You must ask how are things going for you? How is the path now? Can I make it easier? What else can I tell you about this idea? You want the elephants to know you and trust you. Then they will believe that you have their best interests. Show the elephant that it's making progress. Look how far you've come. Look what you've already done. Look what you've learned. See how much better you are than when you started. The pattern is called small successes. So many experiments, so many psychological experiments have shown that when you can show people some small directional progress, they are much more likely to continue. In one very famous experiment, a car wash gave out cards that are good for a free car wash if you get 10 car washes. And so they were given a card with 10 holes to punch. But they didn't have much success with it. Whereas when they started giving out a card that had 12 holes to punch before you could get a free car wash and two of them were already punched, they said, here when you get 12 free car wash and we have given you two free punches, now the cards should have been equivalent. But those who got the card with 12 holes, two of them punched, could already see progress. The path was laid out before them and they could see they were already on the way. Something to say to a team trying a new software tool, you know, you're not going to have any trouble with this because the interface is so similar to the tool you are using now. It will be easy. It will be easy for you to learn this new software tool. Show progress that has already been made, even with something brand new. And take little steps. The pattern and fearless change is called baby steps. Whatever the journey is, however difficult the path, if you think of it in terms of small steps, showing progress along the way is how we naturally divide up any long journey, whether we're sitting in a car or on a train or on a plane, or whether we're in an educational journey, whether we're in a journey at our workplace, we think of milestones, things to celebrate. Little tiny steps that show, yes, this path is getting easier. Yes, I seem to be able to make progress now in this new tool or in this educational adventure I have started, especially at the beginning. Little tiny baby steps. It's how we all learn to walk. Take a step. Fall down. Take another step. Fall down. It's how we have learned everything, playing an instrument, participating in a sport, learning a new program language. Step by step. Most of the time organizations want enormous change. They want to lay out some initiative, and they want to see an end date when something will happen. They tend to ignore all of those little steps along the way. They focus on what it is that we want to see happening at the end. So the best thing to do is, well, talk about the change in little steps. Ask for small things, and then you can show progress. Take any large effort and break it up into small pieces. I once had a friend who had a very bad habit of drinking three liters of Mountain Dew every day. He was enormously overweight, was suffering from diabetes, and his doctor was very wise. She said, I know you can't just immediately stop drinking three liters of Mountain Dew. This is a long-term habit. How about let's cut it back to two liters and a half, and let's see how that goes for several months. Then let's go back to two liters and a liter and a half, and it took almost two years. But now he's healthier. Every now and then he might have a 12 ounce can of Mountain Dew, but he no longer has his three liter habit. That's true for all habits. It's better step by step. I know we have people who said, I quit smoking overnight. Well, it can happen. It's better though to shrink the change. Almost all large change is the result of little tiny steps, and sometimes they just seem like you're not making much progress at all. So you must encourage the elephant. Don't give the elephant an excuse to give up. I like to talk about the growth mindset, the idea that, well, we're not there yet, but it's not that we have it or we don't have it not fixed. We know we can improve. We know that it's going to be difficult along the way, but we are going to have to work hard. We're going to have to practice if we're learning a new skill. So we tend in the agile community to talk about coaches, and I think that metaphor is a good one. We need the help of a coach, not someone who's simply going to do a series of checkboxes looking at milestones. We want someone who can look at our progress and give us good advice about how things are going along the way. We want a coach who can watch, who can help us, who can guide us. There was a wonderful article in Harvard Business Review just recently from Rosa Beth Moss Cantor who says, everything, everything looks like a failure in the middle. And we tend to ignore that enormous middle where all the work, all the failure, all the stumbling, all the learning, all of that happens. And if we don't account for it, it's so easy to get discouraged along the way. We know that it has something to do with identity. Who are you? There are two models for decision making in the psychological research. One is called the consequences where you talk about, well, what's this going to cost me? What are the long-term benefits? It appeals to the writer or system too. Appealing to the elephant means talking about who you are. Are you a good parent? Are you a good teacher? Are you a good coach? Are you someone who likes to learn? Are you someone who isn't discouraged by failure because you know how difficult it is to make progress in new things? And appealing to that identity, I think the world has forgotten this. And now we find ourselves in a polarized world, arguing facts with each other. And we've forgotten about identity. We've forgotten about small steps. We've forgotten about fear. We've forgotten about how to talk to elephants. And as a result, we're making a lot of mistakes. Heights says change efforts that focus on benefits but violate identities, our doom to failure. We certainly are seeing that in the United States right now. Then Franklin Effect says the best way to involve someone, to get them involved in your idea or to convince them of anything is to ask for help. There are so many things I don't know about this organization. Can you help me? I don't really understand what goes on in that department. I know your team has been doing a lot of work on our latest product. Can you help me understand that? Ben Franklin is famous for saying we all admire the wisdom of people who ask us for advice. There's also some brand new research that shows asking for advice. Is the best way to get feedback? Is the best way to get people involved? Is the best way to make people feel like they're important? To whatever your cause or idea or product might be is simply to ask. I need some help. Could you give me some advice about? And once that happens, another pattern, sincere appreciation. We often forget that one and it is so powerful. It's the best gift you can give. Thank you. Thank you for what you did. You really helped me. I really appreciate it. The pattern is called bridge builder. Sometimes you can't reach a particular elephant who is really, really resistant. So you might have to bring in a friend. An elephant that the resistor knows has experience with trusts. Whereas the resistant elephant doesn't really know you, doesn't really trust you, not yet. So bringing in someone to build a bridge, make a connection is a very good way to start. It's a small step to start building trust. And the absolute best friend, elephant to bring in is someone who was formerly a skeptic, someone who used to not really understand or believe in or trust your idea, but now sees the benefits clearly. That converted skeptic is a very good way to make the bridge to a resistant elephant. And one of my favorite patterns from fearless change has to do with high ranking elephants. We tend to think that we can get all the executives or the high level managers in a room and we can explain our new concepts so they will all understand it and answer any questions they might have when we really know that high level executive elephants will never ask a question in front of others. It would indicate there's something they don't understand, something they don't know. Most of the time, high ranking elephants who are resistant are afraid. And what they're afraid of is there's something about this new idea that they don't fully understand and they have no place to go. They have no one they can trust to get help to understand, to even make a decision. So the pattern suggests that instead of meeting in large groups that you always meet with high level ranking elephants one on one and you do it on their schedule and you let them drive the conversation. What is it that you would like to know? What can I tell you? How can I help you make a better decision about whether your department will go along with this agile transformation? And then be prepared to make your explanation in terms that mean something to this particular elephant and to make it as easy as possible for this elephant to go the way you want to. And once that one-on-one conversation is done, that you never share anything that went on in that meeting with anybody. That is the first step to building trust with a high ranking elephant when they know they can trust you to answer their perhaps simple questions and then not immediately run out and tell the rest of the world, hey, you know, the CEO didn't really understand some basic concept of no, never share anything. Then the elephant will begin to trust you and the next time there is a difficult situation, a different set of fears that you might be called in to help make that decision, that's a powerful position to be a trusted advisor to a high ranking elephant. I have used that pattern several times. It is powerful. Of course, what we're talking about now is easier path. Just make it easier. Don't worry about the logical argument. Don't worry about convincing the resistant elephant of anything. Just make it easier to do what you want. So it's a very famous experiment with popcorn where people entering a movie theater were given really horrible, weak, old popcorn in either a small or a medium sized or a large container. The popcorn was terrible. It didn't taste good at all. But the people that had a large container ate a lot more than those given a medium size or a small one.  And unfortunately, we don't use this tactic often enough because we think we will not be impacted. So why would it impact others? It's a recent study of the folks at Google who were concerned that in their kitchens, people were eating too much junk food. People were gaining weight. They have metrics on this kind of thing. And what could they do about it? And so the experiment involved just taking the M&Ms, one of my favorite candies, and putting it in a corner in an opaque container. And all of a sudden, the consumption of M&Ms went down. It wasn't inaccessible. All they had to do was walk a few feet. All they had to do was open the container. Everybody knew where it was. But in seven weeks, 2,000 people consumed 3.1 million fewer calories. Just make it easier to do what you want. We know elephants are elephants. We don't have much control over how their brains work. But we can change the path. So instead of arguing facts, remember the elephant doesn't care about facts anyway, just make it easier. And this is true for you. You have an elephant. Your very tiny, logical rider might realize it's not a good thing to eat M&Ms or whatever your problem is that you face at the end of the day. So the answer is don't buy it. Don't buy those M&Ms. Or if you do, put them in an opaque container on the top shelf in the very back of your pantry. And just that distance, just making it a little more difficult to get a hold of those M&Ms will decrease your consumption.  And that includes all of us. We are herd animals, elephants and humans. We do what others do. It's one of Robert Cialdini's influence strategies, social proof. So if you can show that other elephants are headed in a given direction, then most elephants will follow. We want to do what others, those people who are just like us. We want to do what others are doing. This has survival benefit. It's what we've been doing for tens of thousands of years as various flavors of human species. We lived in small groups, staying with the herd meant survival. So this is hardwired. It's deep in us. When we see people moving in a given direction, if there are the people we associate with, if there are the people who are just like us, we go where they are going. And we do it without logical analysis. The rider is not involved. If elephants are stampeding, the rider has lost control. The elephant sees others moving and will follow. One of the most interesting books I read over the past year and a half was called Rising Out of Hatred. It's about someone who really, really, really changed his elephant. Eli Saslow is a white supremacist who was being groomed to lead the white supremacist movement in the U.S.  And over time, he changed in a significant way. Anytime you believe that people cannot change, that especially people who have severe beliefs are stuck. I encourage you to read this book. It's an eye-opener. It shows how these very simple things that I have just outlined can move even the most resistant elephant. Even the elephant who has been traveling down a particular path forever only knows one way of looking at the world. That person can change. It is such a hopeful message. And to that end, I joined an organization called Braver Angel, where we have facilitated workshops where we listen to people on the other side. For those of you who don't know what's going on in the United States right now, we are severely divided. The elephants are charging in different directions and no one is listening to anyone. No one is even proposing, except for Braver Angels, that we listen to the other side. This is our only hope. We don't have to change what other people think. We want them to do something. We want them to adopt this software tool or get this vaccine, whatever it is, its behavior and the focus on behavior is important. Because if you think that in tackling resistance, you want to upend a set of beliefs, you're likely to fail. That shouldn't even be on our agenda. We want people to do something. We want them to take some action. So I'm hoping that maybe you now have a metaphor, some way of thinking about people who don't agree with you in a way now of communicating with them. So that image, that visual of an elephant has been of enormous help to me. And whether you remember all these tips or not, just thinking in terms of the enormous elephant and a little tiny rider might help you in your future encounters. So I want to end with appreciation again. I know you spend so much time online. I hope it was worthwhile and I hope you stay safe. I've got a couple of visuals. Remember, you can ask for the slides and I'm going to stop sharing and see if there are any questions. Yeah, there are three questions, Linda. Do you want to read? Yes. Why elephants like story? Because we like stories. You can actually put people in a brain scanner and you can do one of two things. You can make a nice logical argument to try to convince people of something. And when you do that, you can see the parts of their brain light up as they attack, as they find things that are wrong with the argument. When we hear a logical argument, we try to find out what's wrong with it. We try to find the holes. Now, if we're in a brain scanner and someone begins to tell us a story, you can watch and see the parts of the brain light up because now our brains begin to light up in the same way as the storyteller. In English, we often say when we agree we are on the same wavelengths and that is exactly what happens. We love stories and we want to hear that it has a happy ending. Will the beautiful princess marry the handsome prince? Will they live happily ever after? And instead of attacking, we begin to follow and we want to hear, well, what happened next? Well, what happened next? So now we are with the storyteller. The storyteller brings us along and our brains are hardwired to do that, to react that way to stories. When logic know we resist it, we attack it, we look for things that are wrong. So if you want to convince somebody a story, a good story about someone they can identify with is infinitely more influential. So, Linda, we are out of time. It's usually an amazing session, Linda. Thank you for doing this and thank you. Have a great day. My pleasure.


For the conclusion of our video series, I have the honor and the pleasure to receive Andres Antonopoulos to speak about Bitcoin and blockchain The first set of questions I would have for you Andres is about the Bitcoin currency What is the potential of the Bitcoin currency and how it can really address the financial inclusion? Well for the first time we have an opportunity to make Very powerful financial services available to everyone Simply by downloading an application on a smartphone But I think also potentially using an application with SMS on an even simpler phone Already we're seeing smartphones costing 25 euros or less and Over the next few years we're going to see that price drop even further which means that Given the value that you can get from having a bank in your smartphone That's a that's a worthy investment that will drive economic inclusion One of the things I expect to see is just like we saw adoption of cellular telephony Jump ahead and bypass an entire generation of fixed line Telephones and many places of the world people went directly to sell the telephony from having nothing at all I think we're going to see a similar leapfrog where people will go directly to digital currency bypassing traditional money bypassing traditional banking and that can have a significant impact on The more than four and a half billion people who have very limited access to banking And two and a half billion people who have no access to banking whatsoever Perfect and what about the impact of Bitcoin currency on other countries like Greece Argentina or maybe China I Think it's too early to really start seeing that impact But we can already foresee what kind of impact it's going to have today if a currency is in hyperinflation if a government is pursuing policies that are insane or corrupt or intended to Pay debt by confiscating the savings of seniors and retirees Simply through inflation, which is a tactic we see in many countries The end result is that they have to be able to take the entire population hostage They have to be able to apply currency controls They have to be able to hold people from leaving the system When the ship is sinking you have to keep everyone on the ship And Bitcoin allows people to abandon ship. It allows them to exit it allows them to opt out from hyperinflation catastrophe now today that Option is only available to a tiny tiny fraction less than a tenth of a percent maybe of these Populations and we're seeing already that people are taking advantage of that option. So When hyperinflation strikes in Venezuela, you wouldn't expect many people to have access to Bitcoin But we see an enormous spike in Bitcoin sales, which means that some people are using it The same thing has happened in Greece in Argentina in Cyprus and other countries. It's still tiny It's not going to have any impact on the broader economy or the middle class but imagine 10 years from now When the option of a hyperinflation catastrophe for the middle class and paying off the debts or inflation for the government is Not an option Because 15 20 percent of the population can simply leave the currency and even knowing that Even without the population leaving simply the knowledge that that is possible changes the behavior of governments. It changes their Options it reduces their options. They don't have the option to do that kind of monetary policy Because they face competition from a currency that they cannot control. So I think At the moment nothing happens in these countries nothing significant But we can already foresee that in 10 years or less the game will have changed completely Perfect now. I would like to speak about the Bitcoin as a platform Could you remind us, please the the importance of the anonymous proof-of-work? Contenses algorithm and how it drives most of Bitcoin properties So you have to think of the blockchain technology and the anonymous proof-of-work as mechanisms as architectures and The purpose of these architectures is to increase the decentralization of the system So the blockchain architecture allows you to do decentralized applications Proof-of-work allows you to make those even more decentralized anonymous proof-of-work Even more decentralized having a native asset even more decentralized Having to expend Extrinsic energy even more decentralized all of these things increase the decentralization In fact, my theory is that there are certain features of the Bitcoin technology That don't just increase the decentralization, but they increase it in a stepped level So not just increasing it linearly but creating a new plateau of decentralization By pushing it up quite dramatically proof-of-work and anonymous access to proof-of-work Open participation in the consensus is one of those features that creates a step to increase in decentralization decentralization in turn is The thing that creates all of the interesting features of Bitcoin it allows Bitcoin to be open to be borderless transnational and global to be neutral To be open to participation open to access open to the consensus algorithm and open to innovation without asking For permission it allows it to be immutable and censorship resistance and Without intermediaries or counterparty risk all of these features come from the increase in Decentralization that is enabled by features like the open proof-of-work consensus algorithm perfect, so about decentralization Do you think that we succeeded with Bitcoin to invent a new form of governance? absolutely, yes, so The really interesting thing about Bitcoin is that it enabled us to achieve in the area of trust a new level of decentralization that had never been achieved before and That set the new standard if you like and What it does is it allows you to have this open global Platforms that gives you neutral interpretation of the rules of trust through consensus and That creates a new standard for governance meaning that if you want to operate Corporation or an organization Instead of using a hierarchical system of governance You can instead use a network-centric flat system of governance and of course the most obvious application for that is to implement the issuance and Transmission of currency But that's just one of the applications that you can do once you have an open neutral platform for trust About the decentralized governance. Do you think that it's really efficient because bitcoins? Happens to have a lot of critics about the efficiency of this way of governing. Yes, absolutely. It's not efficient It's not efficient. It's not meant to be efficient. This is an explicit design trade-off Bitcoin creates liberty In return for reduced efficiency. So we choose to have a system that is less efficient That can't scale if you want efficiency if you want the trains to run on time if you want Perfect coordination choose dictatorship very efficient brutally efficient one might say Decentralized governance isn't efficient. What it is is liberty. So this is a an explicit design trade-off It's not an accident the system chooses to Decrease efficiency in order to increase liberty in order to increase openness to allow for borderless operation censorship resistance Neutrality open participation open access open innovation all of those features come from decentralization at the cost of Efficiency and that's okay because it's a price worth paying. We already have efficient efficient systems of payment They exclude four and a half billion people.  They concentrate power. They're corrupt We already have those. This is a system that gives us an alternative approach Now I'd like to speak about your vision about the future of Bitcoin according to you what are the most interesting Developments that are upcoming in the Bitcoin platform, I think it's We can look at this from a number of different perspectives we can look at the core technology and then we can look at some of the applications that are being created with this core technology in Both cases what we're seeing is the effect of exponential growth in the innovation with an open innovation platform and financial Technology for the very first time Anyone can participate in innovation. They can invent something and they don't need to ask for permission so what in banking has been this very very slow process of Incremental innovation that takes decades to show any movement whatsoever now We're seeing the type of innovation we see on the internet being applied to banking and it's accelerating really really fast in The core technologies in Bitcoin We're seeing the introduction of new capabilities at the core layer that increase both the scalability as well as Introduced new features. So we've seen for example of the last year The introduction of time-based parameters for the programming of money, which is a really important innovation So now you can control the timed release of payments as well as introduce time constraints in the scripting of Bitcoin This has already been used to create very exciting applications over the next three months We're expecting the introduction of a system a new architecture change called segregated witness Which both increases the capacity of the Bitcoin blockchain by a factor of three approximately it also Changes some of the ways that transactions are encoded solving some minor problems in Bitcoin Reducing effects like transaction Mali ability And improving the way hardware wallets and other devices can operate with Bitcoin So a few basic architecture changes on the back of that What we're seeing is the ability to introduce more features into Bitcoin much faster So segregated witness gives us the ability to upgrade Bitcoin and upgrade the scripting language much faster than before and Already we're seeing many proposals coming out on how to make upgrades in the programming of Bitcoin One example of that is using a new signature mechanism called snore signatures We're seeing the introduction of more privacy and confidentiality mechanisms. We're seeing Cross-chain connections, which allow us to implement blockchains that have two-way pegging For the transfer of value between them automatically and in the decentralized way. We're seeing the introduction of Technologies that allow us to create Bidirectional payment channels. This is a very interesting technology called lightning network bidirectional payment channels allow you to build a whole layer of Routed payments on top of Bitcoin that can operate on a millisecond scale delivering millions of transactions per second And which are completely off the chain, but still exhibit all of the trust relationships of Bitcoin So all of these technologies are coming on now. We're seeing the first developments We see codes that can be tested and simulated and it will probably take about two years before we see these Being implemented in the consumer-facing side and the user interfaces of wallets exchanges and things like that On the other hand in terms of applications I think we're beginning to see the impact of Bitcoin in certain areas where traditional payments are very difficult and the two most interesting areas in my mind are remittances and currency controls so moving money into a country from immigrants who work abroad and are trying to send money to their families This is an area where the traditional payment system is slow. It's expensive It's insecure and it's full of controls and where the poorest people in the poorest countries pay the most to transfer money We're beginning to see the impact that Bitcoin can have in that space by facilitating remittances The other area is import-export. So doing trade cross-borders companies that import goods or export goods or both Can now find ways to do that much easier by using Bitcoin as the currency to do cross-border payments Again, these are areas where traditional financial payments are slow insecure and expensive and Bitcoin makes them fast cheap and secure So those are obviously areas where Bitcoin can have a big impact Perfect and what would be the main challenge that would be coin face during the next years? I think the main challenge the Bitcoin faces is that it represents a Significant change in the way people interact with money. It is probably the fourth or fifth major technological advancement of currency since the beginning of human civilization and when you change a technology like money that is one of the most ancient technologies we have in our civilization and which is such an influential technology and one that has become Almost invisible to us people don't speak about money as a technology. They don't really think of it as a technology But it is and when you change it for the fourth or fifth time in human history There is resistance when we moved from gold coins to paper money. There was a lot of resistance It took almost 400 years for society to adapt to this new concept it took another 30 years to adapt to credit cards and Bitcoin represents kind of the next adaptation. So it takes time the understanding the language understanding the technology its complexity Obviously the culture needs to adapt to new ways of thinking and talking about money But at the same time Bitcoin needs to adapt to become easier to use easier to secure and easier to understand So both of those things are happening and it takes time And they will happen, but that's the fundamental challenge, which is that people don't like change and it takes time to absorb and adopt a new technology and About the regulation what kind of Regulation do you expect to come in the next years? So I think there's a big difference between regulating Bitcoin and regulating companies that operate in Bitcoin I think the regulators are probably going to regulate some of the systems that touch traditional banking specifically exchanges and Bitcoin companies that behave as banks which means that they take control of other people's money And that's probably a good thing because when people take control of other people's money They tend to steal it both in the traditional banking environment and in Bitcoin So whether that's going to be effective or not we'll see I mean regulation hasn't been effective in stopping banks from stealing people's money I don't know how effective it's going to be in Bitcoin, but it's not an area. I'm very interested in as For regulating Bitcoin itself, that's where things get interesting the the issue being discussed among regulators today Is whether they should regulate Bitcoin or should not regulate Bitcoin? But the problem is they haven't addressed the question of whether they can or cannot regulate Bitcoin and the answer is rather simple They cannot regulate Bitcoin because they have no control Over the Bitcoin system. It is a global open system, which means that their regulation could simply consist of banning it By law in which case that law will be ignored in the countries Where the law doesn't matter and will be fought in the countries where the law does matter or They're going to have to look at other ways of approaching this because the system itself Is not subject to any country's regulation directly. So this is going to be an interesting space We're going to see a lot of arguments. We're going to see a lot of pressure We're going to see a lot of political manipulation especially in countries that See the concept of individualism and individual control self-expression freedom of association freedom of speech Freedom of economic activity as threats to the government status Those countries are going to find it very hard To accept that Bitcoin is and will continue to be more liberal countries countries that believe in You know the principles of the Enlightenment and the Renaissance will probably find it a bit easier to adopt systems that empower individuals What do you advise for a developer interested in the blockchain? Should he be interested first in Bitcoin or Ethereum? I think both Because both it offer interesting and different perspectives on the same technology So if you're looking at these open global blockchains like Bitcoin and Ethereum Bitcoin will will demonstrate some of the areas Where you have a seven-year history of extremely robust proof-of-work based Open blockchain that is primarily used for currency applications, but has other applications too And offers this concept of sound money. Ethereum gives you much more flexibility It can be interesting for developing decentralized applications The security model is slightly different and it's not as mature yet So I think both of those offer interesting perspective and developers should really look at both perfect another topic We have today any very intensive buzz about the blockchain of the technology behind Bitcoin Is it really? Do you think that the invention behind Bitcoin is really about blockchain? And can we really separate Bitcoin from box it from blockchain? I think it's it's really demonstrates that people don't yet understand this technology Blockchain is not the technology behind Bitcoin It's one of the technologies behind Bitcoin But it's not the most interesting part of Bitcoin The real power behind Bitcoin is decentralization blockchain is one of the capabilities within Bitcoin one of the tools within Bitcoin That increases decentralization. So blockchain is an architecture It's an architecture that allows us to increase decentralization within Bitcoin But the goal is decentralization the blockchain is just the means to that goal and the goal of decentralization decentralization is not achieved by blockchain alone. It's achieved by the combination of a blockchain architecture an Open participatory proof-of-work consensus algorithm that rewards with a native asset and Requires the investment of extrinsic energy all of these things increase decentralization and they increase them in stepped ways That create the features of Bitcoin. So Bitcoin is open borderless neutral censorship resistant with open participation open innovation and access Those capabilities don't come from blockchain technology. They come from decentralization And so what's really interesting about Bitcoin and other open global blockchains is their degree of decentralization To simply say I'm using a blockchain is to say I'm using a database with signatures and hashing and You can use a database with signatures and hashing to create something that is very centralized and has none of the capabilities and features That we see in open global blockchains, and that's boring. It's not really a very interesting technology In fact, it's a rehash of technologies. We already have what's really powerful about Bitcoin What's really interesting about Bitcoin is how it changes the model of global governance Once you have massive levels of decentralization and the platform itself is neutral and you can't do that simply with a Blockchain so I think it's important to separate those and understand where the capabilities really come from Perfect so still about the the blockchain buzz do you think that banks and big companies do really need blockchain? I think banks can use blockchain to achieve small and Incremental savings and operational efficiencies in areas where their technology is so far behind the mainstream That it's almost a joke the fact that today the clearing houses and the Coordination systems for clearing equities and bonds and over-the-counter securities and futures are still using effectively messaging technology from the 1970s Is the only reason why blockchain is useful in the banks because compared to that Anything they build will be less centralized and more efficient. So it gives them an opportunity to build something new I think there's also a danger there though, and it's something we don't commonly discuss If you have a clearing house that operates to clear transactions between banks equities bonds futures derivative securities whatever One of the most important functions of the clearing house is that the clearing house itself is not a market participant The clearing house is a neutral fiduciary agent that has no participation in the market So I think we're rushing into this idea that we can replace the clearing house by a consortium of banks The problem is then the people responsible for clearing our market Participants in fact, they are the market makers in that market and that creates a massive conflict of interest What you had before which was a separation of concerns between the market participants and the clearing house is erased now There's a lot more possibility for collusion Corruption front-running and insider trading which the clearing house prevented. I don't know how that's a real improvement Maybe it's more efficient and less expensive for the banks, but at what cost? At the cost of greater possibility for corruption and collusion so again I'm skeptical about the use of blockchain in the banking environment What I can tell you is that the banks really have very little use today for open global blockchains Because open global blockchains Essentially mean the replacement of banking as an institution with banking as a network protocol and an application Which takes away all of the power and control the banks have To use an open blockchain is to give up all control and unfortunately their industry is not able to make that choice So they're likely to face Significant disruption from open global blockchains while at the same time playing with these little sandbox closed blockchains that dilute conflict of interest protections and offer minor incremental operational efficiencies and To finish would you comment more about the open the need for an open blockchains and how this openness is driving real innovation? Yeah, I mean it's the difference between the internet of money and the intranet of money and We already have seen that play out When the internet first started to have an impact in commercial environments Many companies decided that the best way to use the internet was to create little intranets Insights that were closed controlled and firewalled where they ran a subset of carefully controlled corporate applications And we now know that those are the environments where innovation goes to die and in those corporate environments you have stale information reduced security capabilities and useless content and The applications that run in there are a restricted set of applications that nobody wants to use So you end up with people who carry two phones on them They have the blackberry that runs outlook and connects to the intranet for running Microsoft exchange and You know wikis with stale information and then they have an iPhone or Android phones So they can work like normal human beings with all of the rest of the applications on the internet where all of the interesting stuff happens that exact scenario is now playing out with Bitcoin and the open global blockchain Which is that the real promise there is to create an internet of money an open network that is completely open to participation For everyone in the world that sees no borders that is completely transnational and global that is neutral and censorship-persistent and That is magical that allows billions of people to innovate on their own to choose to Produce financial systems and not just consume them to participate in a global economy to transcend borders to create both Hyperlocal community trade as well as international trade from the comfort of their own phone with full empowerment and control and security Without any intermediaries without any counterparties without corrupt banks and corrupt governments. That's a powerful idea The idea of taking that technology and creating a little sandbox for the use of a corporation or bank That's boring. It doesn't really do any of the interesting things That the open global blockchain does now of course that doesn't mean it's not going to be done Hundreds and hundreds of companies are going to try to recreate the magic of the internet of money in the liquid in a bowl you know in a bottle and create a contained closed controlled system and That system eventually will deliver Very little or no innovation because when you isolate something When you keep it under control it cannot innovate at the same pace as an open system It cannot offer neutrality because with the power of control comes the responsibility of control And so you can't have neutrality. You can't have censorship resistance. You can't have openness All of those features evaporate immediately and what you're left with is Basically a closed financial system and we already have Many of those we have them PayPal Venmo Apple Pay credit cards visa mastercard. We already have those. There's no reason to recreate them on a blockchain database Thank you very much Andres. It's a pleasure. Thank you so much for having me. Hope to see you soon. Yes


What's going on everyone Sam here with late sports cards are in one box at 23 top Star Wars chrome galaxy hobby for Drew R It's good luck Drew. Let's do it. He's got a box of this waiting in his locker. I might steal it and run I know we're talking Star Wars galaxy No plan with that Deat in the force refractor that this one's pretty nice like that one that is a Tatooine sunset that is the bounty hunters of dengar You have it or no, but I'm just saying you see it on eBay. Yeah, that's pretty sick Princess Leia or Ghana Looks really good with a barrel. I can imagine it does look pretty good bucket of bolts refractor Return to the Jedi is that poster base is a refractor of projection base base Got a Tuscan under twin sons That is Ray and Kylo Ren. That is a Star Wars saga Vintage Star Wars poster card 40th anniversary. That is a future of the Jedi There's on the hunt women of Star Wars The emperor up close aka Shawn. That is a Hoth from the air. There's a teal 181 at 199 from the depths or aqua.  Donnie's going for the entire entire atomic set I haven't started started 22, but not 23 yet. That is a wave to 99 of Luke and Peril It's car number one. I didn't realize that I swung there Galactic visions insert and base got refractor of battle of Endor They it's invasive. It's kind of nice about this too with Star Wars. There's like endless cards you can make Yeah, what I mean. Yeah, there's a 74 z speeder bike IG-88 a dark side refractor It's a base. We're doing for your break there Drew. Thanks again for the support as always buddy. Get him right out tonight


Hi everyone, Joe for jasphyscasebrakes.com coming at you with 2020 tops tier one baseball 12 box pick your team number 14 from jasphyscasebrakes.com some pretty solid stuff here I mean you can chance it That barrels knobs and all sorts of crazy stuff. So big. Thank you. And we filled them. Yeah We filled this straight up as well. No fillers. No number blocks. Nothing Good old-fashioned straight-up filled. So big. Thanks to Everyone here on Tuesday the 16th. We're getting into the action right here Peter with that last bottom mojo Marlins That's why he has that little star next to his name. There's everybody else right here Thanks, everyone for making this happen. I think this is the right case All right one and 12 just be tier one. Please be tier one I got it. You can see all the boxes on the top camera right there, too. All right, so we've got Six on the left side six on the right side two autograph cards and one relic card inside And I'll use this blank card right here to hide the hits Like I generally do if I remember correctly Two relics are in the middle right here So we're gonna do the relics first. All right, we're start off with Carlos Carrasco to 395 And that is for Adam Richards with the Carl's craft who had a scary like Bloods thing sickness that was going on. I think he's better now, but Kind of terrifying for a second there All right, and we've got that's a nice patch up on top Trevor story 24 out of 25 Nice dual relic. You got the ES of Rockies. I believe down there that goes to Silvio and your autos. We've got 141 out of 299 carry wood nice carry wood. There's a great Fox sports special On carry wouldn't that 20 strikeout game? And back here is a Logan Allen rookie auto 66 out of 299 Adam Richard another Indian right next one here Only one relic inside There's usually one only two cards the one relic we got a bonus relic in that one sometime to get bonus relics All right, and it's gonna be Lourdes Gouriel jr. 395 That's to John Stallone and the bluebirds and we've got Keston here a nice 48 out of 299 the pride of UC Irvine The that that baseball powerhouse UC Irvine that goes to the brew crew that will be for Peter There's max Muncie 38 out of 299 Nice max Muncie Dodgers Chris Maxwell with the max max for max We'll get it out of the ocean You're welcome Chris. All right. We got Adrian a motor home 312 out of 395 Out of an motor home going to Robert Grease and the Friars Your two autos and got Aaron Nola. He's running the bases there nice That looks like a home run trot Is that a dinger 104 out of 200 for the fight and Phil that goes to Alex Donnelly We were looking for you before the break Alex, but Appreciate you watching the video And rallying the people earlier today Now we got AJ puck kind of like some people have compared him to big unit light The long show locks right there. It's some good show hair Big tall left-hander That goes to the a's Robert are with the athletics See it right in the middle is Wilson Contreras 263 out of 395 That will be for John Stallone and the cubbies and Mitch Hanniver 3 out of 25 gold ink or coppering golden copper ink autograph for Clayton Jones and the Ems and we've got for the brew crew Brandon Woodruff 122 out of 299 Peter with the Brewers got Jurassic World on the background here Taradactyls are Now attacking everybody. All right bonus relic in here. We got Albert pools to 395 Just for the halos that's going to go to John Stallone. He's heating up. He's on fire from downtown and Miles me equal us to 395 for Jake Johnston and the cards He might he might make the all mustache team all MLB mustache team 18 out of 100 Corey Kluber That's for the tribe. That'll be for Adam Richards and Josh Hader to 299 Brew crew and it'll be for Peter B Straw penguin. What's up? He sucks can't buy a hobby box and so because it's so much more expensive than he used to be I know I hear you man Nice Josh Hader Peter B gas is more expensive cars are more expensive Movies are more expensive Baseball games are more expensive Concerts are more expensive Everything's more expensive It's milk more expensive eggs are probably more expensive. My paychecks aren't getting bigger though There's you Chang That's for the tribe. He's kind of a highly touted player right 15 out of 25 international prospect What's the difference between a patch and a relic? I think people use these interchangeably But generally the patch will refer I use them interchangeably the patch usually refers to an actual letter or thing or logo on there, and that's just a jersey But these can be considered relic both can be considered relics All right another Indian for Adam Richards And we've got Albert Azole 76 out of 99 Jersey and autograph We'll go to the Cubs John Stallone and there's Corey Dickerson Phillies to 70 out of 299 Raleigh fingers Even though is my nemesis probably would be the CEO of the all mustache team We're gonna one of these days we're gonna write down the Write down the all mustache team here Get it written down on the spreadsheet All right six bucks to go halfway through this full case break It all depends straw if you go to jazzy's case breaks calm You can see all the different prices for all of our group breaks If it's a pick your team, it'll be it'll be different based on The quantity and the quality of the hits a team may have Among other factors, there's Alex Rodriguez to 199 and then random team breaks will be Will be a set a fixed price for a random team Alex Rodriguez legends Jersey Mariners Clayton The extra relic is gonna be Carlos Correa to 395 Astros Matt David Cohn 229 to 299 Chris with the Yankees Yeah, goose gossage would would be would be on there the act There's Patrick Corbin 133 out of 299 Jeff Brown with the Nets maybe a We're gonna try to find one for every position. Maybe you have extra few extra pitchers and relievers, but you gotta find a Catcher first baseman second got fine all those guys. All right. We got Shane Justin Bieber To 395 another Indian going at him Matt Carpenter 41 out of 200 Cardinals that'll be for Jake Jake Jake Jake Jake Jake and we've got a Michael Tachman 83 out of 299 another Yankee for Chris Maxwell Wait, they're releasing rafters to catch this big wrap. Wow. Oh and a redemption on top Yeah, we don't see too many redemptions It's printed on a white card to not the usual blue card So this person must have been really late To the party and we're waiting on you so and so There's Austin Nola Aaron's brother 310 out of 395 for the M's that'll be for Clayton Get off my island and we got Matt baby 199 out of 299 another Dodger second one for Chris Maxwell and the redemption You are due to receive a clear one autograph Oh Oh Boston oh, that's right. They put teams on there now. Alexander Bogarts of the Boston Red Sox That's nice. I have to mark up the card anymore Alex Donnelly with the Red Sox Maybe all the clear one cards or redemption now that I think about it If I remember back to opening more of these you really stay Three you got Jesus Lizardo I got 158 out of 395 A's Robert Ozzy Smith 33 out of 100 We got a little bit of the wizard going to Jake Johnston And then we've got Bobby Bradley rookie auto for the tribe 26 out of 299 for Adam Richards Yeah, a lot of Indians in this break Two boxes to go. All right. Do we have an extra auto in here? There's four right there. All right We've got Brendan McKay Jersey to 395 that goes to TJ with the raise We've got another Ozzy Smith silver ingotto this time 9 out of 10 Wizard magical Jake Johnston conjuring up all these cardinals A couple more to go. We've got gold ingot to grab AJ puck 23 out of 25 Robert Robert are with the AJ puck And then the bonus autograph is Zach Collins 003 out of 299 rookie auto for the White Sox rick tea. All right and the final box. Good luck everybody Too much glue on that, huh? All right last box. Good luck everybody. We've got Jorge Soler 208 out of 395 John Stallone Cubs Royals That's Robert Runkel. Sorry so used to uh We got Austin Riley 13 out of 150 for the Braves Robert are with the bravos I always see this red peeking out And I think it's going to be an out of five All right, and the last one. Good luck everybody. This is full case 2020 top tier one baseball picker team number 14 Jasper's case breaks.com last one is alex young Clayton Jones 118 out of 299 Clayton with the arizona diamond backs And there you go. There you have it Pick your team 14 in the books. Thanks for breaking with us. Thanks for watching. I'm Joe for Jasper's case breaks.com and We'll see you next time. Bye. Bye


Okay, so now we're faced with another mechanical stimulus, and we talked a little bit about this in the beginning. Sound waves are mechanical disruptions of air molecules, and we probably should do a little tiny bit of review of ear anatomy just to be comfortable with this. So essentially the pinna is the outer part of your ear that you can see, and you have the external auditory canal basically the pinna takes the sound waves and channels them into the external auditory canal, but all that's being channeled in here literally are waves, and you can feel it if you turn up the volume on your computer right now, and I start yelling at you, like you can feel the vibrations of the sound, and when it gets too crazy, you're like, dude, just stop, just keep going because this is physio and we have work to do. When those sound waves hit the tympanic membrane, which is your eardrum, that's this thing right here, tympanic membrane, it causes the tympanic membrane to wiggle, and then you have a series of three little inner ear bones, middle ear bones, I do it every time, this is your outer ear, this is your middle ear. The middle ear is filled with air and the tympanic membrane vibrates thanks to the sound waves and it wiggles the bones of the middle ear, and the wiggling of those bones basically amplifies the stimulus, amplifies the wiggle 22 times. So if you didn't have those bones in there and you just relied on your sound waves to wiggle your cochlea, and this is your ultimate receptor organ, this is the cochlea, you would hear, you would have to talk 22 times louder to be heard at the same level, which, you know, go ahead and give me a challenge, I'm happy to try to talk 22 times louder, it might be entertaining. The cochlea is found in the inner ear and it's filled with fluid. So when the inner middle ear bones wiggle because of the sound waves, they are contacting another, like a tympanic membrane, but it's called the oval window and that's, it's just another membrane. So basically, whoa, that says oval window, the tympanic membrane and the oval window both wiggle, the oval window is going to wiggle 22 times bigger than the tympanic membrane wiggled from the original sound waves and the oval window wiggling makes waves in the fluid. Okay, so now you've got waves inside this snail-shaped structure and of course the waves, like I hope by this point you're thinking, what are those waves do? How is a wave translated into an action potential? Well, since you asked, I guess only just because you asked, let's go look. Dude, where'd it go? This way, but of course. This is my sensory receptor cell. This is called a hair cell and hair cells are embedded in the wall of the cochlea. This is the fluid inside the cochlea and you can imagine that this is cochlea wall, like the snail shell of the cochlea and these hair cells. Now, look at this, this is a hair cell, right there. This is a neuron and my hair cell is essentially going to, I love this, this is fantastic. You have to take a deep breath because it's a little bit weird. When the wave comes, here comes the wave and waves like move things. So the wave wiggles the hair on this hair cell and the wiggling hair, take a deep breath because this is so weird. The wiggling hair, there's my stimulus, the result is that calcium channels open and that causes an action potential. That causes depolarization and an action potential is created and a message is sent.  Because there's no way that opening potassium channels causes an action potential. We know from our other experiences with action potentials that no, it actually would inhibit the creation of an action potential. So here's the first example of, dude, there are exceptions to every rule and this exception is possible because the makeup of the fluids is different. The resting potential of a hair cell is different. The extracellular fluid in a hair cell is different than the extracellular fluid surrounding most neurons. So we set up a different scenario where now if we open potassium channels, that's what's going to generate the action potential.   Don't you wish we had like a year to spend just on sensory mechanisms? Because it really is interesting to compare all these different ways that stimulus gets turned into an action potential. The last thing we're going to talk about is sight because sight is pretty amazingly complicated.