Hello, and welcome to the Bitcoin Show. Hello. We have a great show today. I'm Bruce Wagner, as you know. And I'm Ed Gal. And today we have a most amazing personality on the radio. His name is Patrick Tempone. He's a co-host of The Real World of Money, which is an amazing, awesome, unbelievable radio show. He co-hosts with Andy Gauss, and they're actually bringing that show to only one TV. They do a national radio show twice a week, and they're going to bring the Wednesday morning show here starting soon. Maybe next Wednesday. It depends. We're going to work it out. Either next Wednesday or the Wednesday after that. They're bringing it here to only one TV Wednesday mornings, 10 a.m. Eastern. And I want to first thank our sponsors, because if it weren't for our sponsors, we wouldn't be able to be here. And they support the Bitcoin community, and you guys support them. Contact them. Thank them for supporting the Bitcoin Show and only one TV. Today's episode is brought to you by CarpeVM, c-a-r-p-e-v-m dot com. Video marketing. Seize your market. Say it with video. They will help you sell whatever it is you're selling with the most professionalism ever. A video for your website, CarpeVM dot com, and Mezzy Grill, m-e-z-e grill dot com. Mezzy Grill. We're authentic Mediterranean food, meets modern flavor. One of the nice favorite restaurants. That's how we discovered it, and that's how they discovered Bitcoin. And they're the world's first restaurant that accepts Bitcoin with a QR code right there on the window. Big emblem in the front. And tradehill.com, of course, tradehill.com, the automated online exchange, the new kids on the block, but they're awesome. So many dozens of currencies that they will allow you to trade into Bitcoin and out of Bitcoin in so many ways. And they're ramping up. They've been overwhelmed with the volume because of the Mt. Gox problem that they are, they've had to take all the manual ways off temporarily, but they're bringing them back one by one as they're able to keep up with the unbelievable demand. But you'll get 10% off of all your trades for life if you use the referral code for the Bitcoin show, TH-R141. It's on the bottom of your screen right now, TH as in tradehill, dash R for referral, 141. Thank you, tradehill. And USGoldCoins.com. Andy Gauss, the one I was telling you about who co-hosts the real world of money with Patrick Tempone, owns USGoldCoins.com. And they are our most trusted, our really only trusted advisor for excellent investments in rare USGold and SilverCoins. Call up Andy Gauss and he will take your call. He is amazing and he is just an absolute brilliant mind as you'll, I'm sure Patrick will agree. USGoldCoins.com. Thank all of our sponsors for, for us supporting the Bitcoin community and the Bitcoin show. Yes, thank you. So welcome, Patrick. Are you there? Hi. Hi. Good afternoon or morning, whatever time it is. Good morning. Good afternoon. Good afternoon. So we are, we're here, actually NPR is actually visiting our studio at the moment. We usually get three or four major media contacts before lunch and this is just like any other day. But tell us, Patrick, what, tell us about the story about how you discovered Bitcoin first of all. Started with Bitcoins. As of you, you started donating and giving me a few Bitcoins, you sent me 10 Bitcoins and then 20 Bitcoins. I think when they were about 25 cents, you were just donating to our one radio network. And then I just kept talking to you and kept talking to you and fascinating with money. I've been doing a show with Andrew Gauss for 15 years, the real world of money. And I understand the fiat currency and the Fed and how money is created and how it all interplays with Andrew's coaching over the years. And so this idea of having a fixed supply of something was particularly interesting to me where the Bitcoin geeks of the world say only 21 million Bitcoins ever will be produced. So then I have a few Bitcoins. Yeah. I almost forgot about that, but that's true. The way you first got into it was I would say you got to put a Bitcoin address. All you have to do if you have a website is like putting an email address on your website. You have a Bitcoin address on your website and you can start getting donations today. And people will donate. These people are very, very devoted to promoting the use of Bitcoin. So many times people will actually just donate simply because you accept Bitcoin. Yeah, very well. So I remember that now that you mentioned it, I remember that we set you up with a Bitcoin donation address. And of course, Bitcoin totally fits in with the philosophy of investing in gold and silver, a limited supply of something.  It goes up and down. It has vibrations on the way up. But overall it's pretty much been up, up, up. Bruce, could I ask you a question? Sure. I'm looking at Mt. Gox right now and they say the volume is this big, long number. That's not right. I don't know. Let's bring it up. Mt. Gox is... It's like a 28-digit note or something. They used to be... I wonder if you know about how many Bitcoins are being traded each day? Well, yeah, exactly. Well, tradehill.com also is the new exchange site similar to Mt. Gox. So now there's two big players on the block. But I don't... Oh. I see what you're saying. Now I just went there and I see what you're saying. You notice the decimal point. That's key. What they did is they added it out to 1, 2, 3, 4, 5, 7 decimals after... I mean, 7 digits after the decimal place because the Bitcoin is now worth about $17 today. So they need to... Probably in anticipation of Bitcoin value continuing to rise, they wanted to give you the whole decimal place all the way up. So $18,900 or so have been traded today. Yeah. I think normally, I think, isn't it? I don't know where it has been. When it was at a tide, it was at $60,000, $70,000, $80,000, someone else? Yeah. But obviously, you know, Mt. Gox has had this disaster and I'm sure that volume is definitely been affected because it just came back up. But if you look at tradehill.com, you'll see the value there too. Yes, but you can't see the volume there for some reason. Yeah. Probably they don't display the volume, but you can just go to tradehill.com and click on market data and you'll see the... At least you'll see the last price, the value, the lowest ask and the highest bid and so on. So that's $16.95 on tradehill and $16.8 on Mt. Gox, which is actually good to know. It's very much... Very close. They're like par, you know, kind of the values going hand in hand. But the volume is probably down on Mt. Gox, which is not surprising. Not surprising under the circumstances. But the interesting thing to me is that as I recall, if I'm not mistaken, the value on Mt. Gox was like $17.48 or something, $17.48, at the time it was hacked and now it's about $17.00 again. It really shows that Bitcoin is resilient and even if the exchange site with 90% of the market share at the time is hacked and completely shut down temporarily, that it really didn't affect the true value of Bitcoin at all. No, not at all. It would be like a big gold dealer shutting down, but it didn't affect the value of gold. Right. And like I had... I'm sure a lot of people have not been able to reclaim their accounts because I wasn't able to and... Yeah, you will. You have to fill out the forms and go through the extra steps and eventually you'll be able to do it. Right. So that means that a lot of people are not... Oh, at the moment. Oh, that's right. I see what you're saying. Yeah, the volume is probably down because their people are still in the process of re-identifying themselves. They have to go through all these steps and especially if you didn't use an email address or if you may have to go through extra levels of security to identify who you really are because they got to sort out who you really are because all the accounts were exposed on the internet. Did you know that, Patrick? Yes. Yes, I do. I'm well aware. The volume is down. I agree. I agree. I think it certainly has shown the real resiliency and the passion for this around the world that being able to be at 17 bucks after virtually a meltdown of the system almost. Yeah. It wasn't a melt.  It shows that there's some real deep strength for a digital currency out there. Yeah. Well, and people have to understand the difference between Mt. Gox and Bitcoin because it was not really a crash because it was a hack. The hacker broke into one account and sold all the Bitcoins for a penny. So that's not a crash. It's not a real market. That's just a theft. It's a hack and a theft. It's almost like the gold vaults that Fort Knox were broken into and some of the gold was stolen. That didn't really affect anybody's value of their actual gold that they have elsewhere. So it really didn't affect Bitcoin at all. It's people need to understand the separation between an online exchange site and the actual item. The item is a Bitcoin. It wasn't affected at all. If Ron Paul gets his way, we'll see if those gold bars are really gold. Yeah. Yeah, that's interesting. I would love to know Ron Paul's, if Bitcoin is even on his radar and if it is, I would love to hear his thoughts on that. We need to hear from some lawmakers who are in favor of freedom and liberation basically from the central banks because we're hearing all of a sudden from all these fanatical lawmakers who are trying to attach drug sales to currency, which is ludicrous. The drug sales have nothing to do with currency. We need to hear from some lawmakers who are in favor of freedom and freedom from the Fed. Well, Ron Paul would probably like the concept because Bitcoin has a limited supply even though it's not credited to any asset. He is an Austrian school economics guy and he likes the idea that there would be a limited number of dollars that was paid to the gold standard. I personally think it would work in this culture. I don't think it's ever going to happen, but that's just me. Yeah. I don't think so either. The dollar has gone too far. They would have to actually create a whole new currency or something. It's too late. Is there enough gold to even pay a dollar?  I'm not sure that gold really is the superior technology here. Gold is a rare metal. Why would it not be? It's been around for 5,000 years. Bitcoin has a value unless we all agree that it does. Gold has just been agreed upon for 5,000 years as the best source of value, but it's no more valuable than any other metal except that we agree that it is. Exactly. Not that there's anything wrong or flawed with it, but Bitcoin actually has all the same properties and it actually has some additional properties that gold doesn't have. You can't take a millionth of an ounce of gold and conveniently send it across the planet in three seconds. You can't take gold with you without any physical object attached to you. There's a lot of advantages that Bitcoin has to the fact that it's electronic. The form factor is an improvement over the technology of actually carrying a around physical possession of a metal. Because of that, I think Bitcoin is on an equal footing with gold if not better in the future. I think that the key with Bitcoin is going to be if you can buy things with it and how long that is going to take will be interesting to watch. Right. A lot of people say that and it is true. Definitely there's truth to that. If I have gold, I can't really go shopping in Manhattan. I don't know any retail stores or restaurants who do accept gold per se as currency. However, there are a growing number of restaurants and stores and cell phone dealers and so on and so on online and physical brick and mortar stores that accept Bitcoin. We have a, if you go to bitcoinme.com and click on the shopping tab, there's a shop tab and now there's this scrolling marquee of items that just scrolls by of all the things. You can buy everything from clothing to peanut butter to web hosting to on and on and on. All these items just scroll by and if you just study it, you'll be amazed and that list is growing every day. The actual real things you can buy with Bitcoin. For me, this is Ed speaking, I was helping a friend out because he wanted to sell some of his gold coins, silver coins actually. He has bit coins as well and I was like, well, sell the silver or the gold that you have before you sell the Bitcoin because that's going up faster. And so I helped him put an ad in on eBay and Craigslist and it was a lot easier for him to sell bitcoins, believe it or not, and get cash like today as opposed to trying to sell silver and gold. Of course, there's dealers out there buying silver and gold, but he's not willing to sell for 10, 20, 30% less than the market value. He's just not wanting to do that. That's an interesting point that I don't think I've ever heard anybody say it like that, but that's true. If you have some silver coins or something, some people refer to it as junk silver or whatever, whatever. When you're talking about numismatic coins, there's so many other things that go into the value. There's, well, I have to actually see it and I have to look at it with a special glass and I've got to analyze it for its color and it's this and it's that. And I don't know anything about that stuff, but you guys do.  It's it's not like that unless it's just raw silver. So with a Bitcoin, it's actually it really is just digits. Every Bitcoin is the same as every other Bitcoin. It's just a Bitcoin. So and it's infinitely divisible effectively so you can you can send someone a billionth of a Bitcoin and it's just as good as any other billionth of a Bitcoin. So it's super, super easy to sell because of its convenience factor. And there's not a two price points because then with silver and gold, there's really two price points. The, you know, what the dealer is willing to buy it from you for and what you're willing to pay for it as a customer. Oh, right. There's like wholesale and retail value where Bitcoin is people. I mean, people do that too with Bitcoin because they're either charging more for extra transaction fee or but they're not trying to undercut you on the price because they know that the price is based on the milk ox or trade hill. Well, there is a little bit of a there's always in any market, there's a highest offer and a highest bid and a lowest ask.  And people usually just for convenience, if it's a, you know, it's not an extraordinary amount of money that they're talking about, like the NPR guys who came here, they, they wanted to buy $40 worth of Bitcoin because I don't sell Bitcoin. Don't contact me to buy Bitcoin. If you want to buy Bitcoin, just go to Bitcoinme.com and click on the buy, sell tab and you'll see all the ways that you can buy Bitcoin from somebody in your own neighborhood. You can just go and buy them from them. That's not my business. I'm not saying I haven't sold Bitcoin. I did. I said, for $40, of course, I'll sell them $40 worth of Bitcoin. So they came and did that. And where was I going with this? The point was that it's, oh, for convenience, if it's a small amount, we just go by the trade hill last price and you're done. I mean, it's just super simple. It was $17 at that point. I think they probably got a good deal. But I think one, one thing that may be more, you know, as interesting to compare is not necessarily gold and silver, but it coins to dollars. Right. Well, what do you mean? Oh, instead of gold. Yes.  Dollars are just digital currencies. That's right. 90 percent of dollars are just computer blips. So they're just digital. There's nothing backing them. The only reason that they have any value that you can go into Starbucks and trade them $5 for a cup of coffee, probably 10 in New York, is that there is 18 trillion of them around the world. And people believe that the full faith and credit of the United States, which means that they'll always create more to pay the debts. So it's a, it's an expanding monetary system. They're not worth anything except what, what people are, will believe that they'll trade for gas or whatever. The full faith and debt of the United States, the debt of the United States to who, and everybody talks about the debt of the United States and who is that owed to, well, a huge amount of it is owed to the Federal Reserve, the private corporation that has nothing to do with the federal government per se. It's not part of the government and so on. But yeah, you're right. And I wish you had been listening to the NPR. I hope they use the part, this part. I mean, I'm sure it'll be edited, but that's exactly what they asked me. How does, how does Bitcoin relate to the US dollar and what, what's the advantage and all that?  And they're actually the way US, you know, the way Bitcoin is created is an interesting story about how that happens through transactional, I mean, computer processing and so on, that anyone can create them if they have enough processing power and electricity and so on up to that 21 million limit that they estimate will happen in tell me chat room, something like 2035 or something like that. They'll finally reach it. Well, anyway, that's always, that's interesting and fascinating and all that. But how are US dollars created basically by someone with a keyboard typing 0000, just adding zeros and creating it out of literally out of thin air into their own account, basically. And they get the first use of the money. That's something that I learned from Andy, Andy Gauss and you from the real world of money that basically the first use of that money that they just created is the most valuable that money will ever be because it hasn't hit in the market yet. It's, it's almost like it's real money. The market thinks it's real money. It's not just made out of thin air, but then eventually like, like dropping a rock into a lake, eventually it reaches equilibrium and now the water level is higher. Now there's more money and all of it's worth less. So if you want to talk about a fantasy, fictitious digital currency made out of nothing, it's called the US dollar and pretty much all the fiat currencies. Right. Nothing's, nothing's really to add to that, Bruce, not only is it just a digit, but it's also a debt instrument. Yeah. So it's, it's owed to somebody. It's, it's a Federal Reserve note. A note just is like a car note. It's an instrument. You know, and that's exactly right. And that, you know, I'm so glad you mentioned that because that's exactly the next thing I said in the interview. I said, it's, they wanted to know what's the biggest advantage and why Bitcoin? Why is it so popular? Why would people be into it? It's like, isn't this just another PayPal? Or what's the advantage over this versus MasterCard Visa? And I said, no, no, no, no. The biggest advantage is freedom. It's the people's money. It's about freedom from the tyranny of the world bankers. And they looked at me like, what?  And I mean, no, no, no, you don't understand. This is new. They said, why are people saying that it, why are technologists getting so excited about it? I said, it's because it's the people's money. It's about freedom and they're like, freedom from what? I said, freedom from the tyranny of the world bankers who control the governments, who control everything. And that money is used as debt. And debt is the modern version of slavery. Money is, you know, money is used as debt. Debt is used to enslave people, individuals and entire nations. And the other reporter is looking at me like, oh, no, no, no. He actually interrupted the interview. He says, wait a minute, wait a minute, stop, stop, stop. This is a total tangent. This is not true. That's not how French fractional reserve banking works. I said, yes, actually it is. You really should research this that when you deposit a thousand dollars into a bank account, the bank creates $9,000 out of thin air, nothingness and loans, $10,000 to the next guy walking in for a car loan. And that's how it works. And people don't know that. It's just shocking. Google.com. There's a tip. Google.com. Type it in and learn what fractional reserve banking really is. Put it into Google video and look at some of these documentaries like money has debt. And so you will you will get the education of a lifetime, but people don't know that. So many people in the public don't know that the younger people who are in tune with Google video and Yahoo and all that. I mean, YouTube are getting an education. But the older generations are still relying on the evening news. And they just are absolutely ignorant about the facts. So I told him, I'm sorry. Go ahead. Excuse me. Yeah, let me add to that on the idea of being a slave. It is the ultimate form of slavery when you do not know, right? In my opinion, you're a slave because if there's 18 trillion dollars out there, 96 percent of them in digits. And my mentor, Andrew Goss says, they'll probably be half again as much in the next five years. People using dollars will have a 50 percent decrease in their buying power, and I'll guarantee you that their salaries are not going to go up 50 percent. You got that right. That is the ultimate form of slavery. And it's one of the reasons why the founding fathers had the revolution because the King George wanted to be in on all the money transactions, and they didn't like the fact that the colonists were doing their own money. That's right. Paper money. Absolutely. You know, and the, yeah, if you want to be a slave owner, what better system could you have than if you have everyone as your slave and they don't even know it?  They're going to work every day for you to make you richer and more prosperous and more powerful and everything else. And they don't even know it. They think they're just working to pay off that flat screen TV, but they're actually in debt and they're slaves. They have to go to work to pay their bills, their credit card, their interest, interest, you know, people now kids with the student loans. It's just absolutely, it's absolutely tyranny. It's tyranny and it's slavery through economics. And the good thing is the internet is about free speech. The internet routes around censorship and young people. Thank you, God, are using the internet.  It really is in so many ways. It's allowing people to educate themselves. It's allowing people to educate each other and communicate, learn, teach, transact, communicate ideas. And the ideas are what's powerful. We don't, you know, who needs old media? Who needs the old mainstream?  There's something like four or five conglomerates, media conglomerates that own all the media from the tiniest little newspaper, all the radio stations, all the national meet, you know, all the networks, they're pretty much all owned by five older guys in suits. And imagine, I always imagine a little conference room. It could be as small as your dining room table with five dudes, white dudes, old white dudes in suits that control what you think. And, you know, when you talk to somebody at the office and they talk about, you know, whatever it is, they all say, yeah, I heard this and yeah, I heard this and they all heard the same thing because it's the five dudes in the suits who decided what you will learn today and what you don't learn today.  This is what you will cover. This is what you will not cover. This is what you will emphasize. This is what you will downplay. I mean, it's just propaganda. And you can say the same thing is true for, well, not true exactly directly, but for Bitcoin people, they're it's such a tight knit community and there's legion. It's creating legions of entrepreneurs and pioneers. That's right. And they're just sitting around, like you said, five people at a time sitting around brainstorming of great ideas on how to manifest this whole currency idea. I thank God for the internet every single day.  Look at Egypt. I mean, it's freeing people everywhere. There's old media. There's new media. Who has any use for old media really? Except to get the word out about the new media. You know, that's it. That's it. They think they're using me. I'm actually using them. We got to get the word out about the new media. People who watch only one TV are saying, I can't remember the last time I actually turned on a television set and watched old media. So there's old media. There's new media. There's the old economy and there's the new economy. And that's what you're talking about. It is the new economy. There's an entire new economy that's growing up out of this and I don't even know if you realize this, Patrick, but I'm in that we're in the middle of it. You know, we're in like Bitcoin whirlwind right here. I mean, everything comes like to me. People tell me stuff that I'm not a lot of people tell me stuff I'm not allowed to even talk about yet because it's in the works. There's so much in the works. We're in a hotbed of activity of entrepreneurial startups, software, application development. This entire new economy is exploding and it's not in New York. It's not in the United States. It's absolutely global. I mean, they're talking about it in Japan. They're talking about it in China inside China. They're talking about it in Cuba. They're talking about it in North Korea. They're talking about it in Germany and Sweden and Switzerland. We're having, you know, as people may know, I should remind everybody that we're having the world's first Bitcoin conference and World Expo NYC 2011, August 18th to 21st. August 18th to 21st, right here in New York City. We're hosting it right here at the only one TV studios. And I know I've heard from so many people that are coming. They're flying in from these places.  It's going to be amazing. Some people charter private jets to fly here. It's going to be an amazing event. But it's it's a whole new economy that's exploding around Bitcoin. Let me ask you, Bruce, what do you think the the challenges of the Achilles heel of Bitcoin? Everything has a challenge. Nothing goes, you know, just straight through the stratosphere. What do you think the challenges are in the future and the possible opposition? Well, obviously the I mean there. Yeah, a lot of people ask me that the in my opinion is only my opinion. You know, I'm really no expert. I just just I'm only an expert in one thing and that's my opinion. And that's it.   There has there have been a couple notorious huge heists of people stealing someone's electronic file containing a called a wallet that contains all of their money. So, you know, when Bitcoin was just half a cent, nobody it even occurred to anybody that that could be stolen. You know, here. Yeah, I mean, who cares?   But now it's suddenly worth like serious money for some people. And so when when they have that, you know, you put serious money there and it's cash. There's just it's just way too tempting. There are actually reports of viruses on the loose that actually will steal your wallet and things like that. So security is a top top issue. The application developers around the whole planet are responding. Now, I can tell you they're responding in mass. The new versions of the software that are coming are going to be so, so secure.  Bitcoin is a terrible problem for Bitcoin with Mountain Gox and these thefts. I say, no, that is what do you call it when you're hardening the metal so that the sword becomes unbreakable? Because what's happening is the applications are going to be so much better as a result of these heists and the websites, the trade sites and the online clouds and all that are going to be so much more secure. And the end user is going to be so much more, you know, questioning and really checking out the security of these cloud based things.  People learn by mistakes that happen. And so the whole system will become stronger in the end. Now, the second big challenge that I hear about is scalability because as the transactions go from tens of transactions per minute to hundreds to thousands to thousands of millions of transactions to millions of transactions per second, you know, look at the credit card processing transactions. Can you imagine the system that must they must have in place to handle that? Bitcoin has to end up being scalable. And that means with the explosive growth of Bitcoin, it has to be able to handle these transactions. But I don't see that as a problem either because application developers, once again, the geeks are into Bitcoin and they're not only invested time wise, they're invested monetarily too. So they're putting in their time and they're creating they're really making like Gavin Andreessen, who's the tech lead. The one that said that that security and scalability are the two top things they're working on currently. Yeah, absolutely. I mean, not just him, like everybody says that. It's absolutely a priority because scalability, they're going to make it into an even more robust system that it is already secure, but they're going to make it one that can also handle the exponential growth, the explosion in the number of users and transactions. So those are the two big things that are facing us right now. The as far as opposition, well, that's pretty obvious, right? Whenever there's a big winner like the people, freedom for the people, then the opposition would be the tyrants who are who are, yeah, who are actually going to lose their control and power over those people. So that's basically going to be the world banks, which is frightening. A lot of people are very frightened. That's why some interviews, they don't want to show their face. They want to be remain anonymous. There's somebody emailed me, actually, somebody called me this morning and said, will you please I'm a huge fan of your show? Will you please do a show on how to remain anonymous? How to safely use Bitcoin and be completely anonymous? And I'm like, well, that's a good that's a good idea. We should do a show about that. I mean, most people I know are not concerned about that. It's just like, you know, using a credit card at a coffee shop. They don't really care so much about it. Because like I said, people that I know are not telling me they're doing anything illegal with it or anything. So they're not really concerned about anonymity so much. But there are people that are concerned with anonymity for whatever reason. And it doesn't have to be something illegal. It could just be something that they want to keep a secret. It's nobody's business. It's called it's a it's a unique new idea. It's called privacy, privacy.  It's called privacy. You know, get used to it. People want privacy. They're they're they're, you know, they're overwhelmed with everything's public, everything's Facebook, Facebook, Facebook invades everything. You know, they're over that. They want a little bit of privacy if it's all right. Yeah, 1984. Yeah, I mean, it's OK. So it's a good thing. It's a very good thing. So we're going to do a show specifically about that. But that's the thing that the people who are going to lose are the world bankers who dominate the world by enslaving individuals and entire nations using debt. And there that's that's kind of a scary per entity to to have as your enemy. You know, because if if they're an enemy to Bitcoin, I mean, you know, because Bitcoin is no one person or entity or company, I mean, that's a good thing. If everybody in America and everybody in the whole world buys a Bitcoin and becomes a Bitcoin user, then basically they will have to take on everybody, everybody in the whole planet.  I want to say this. The guys from NPR were saying, well, we should disclose that if you're promoting Bitcoin. And I said, well, first of all, I don't promote Bitcoin.   Well, yeah. But if you talk about it and people buy Bitcoin, then you're going to have a financial interest to gain by top by promoting Bitcoin. I said, yeah, and so are you because you just bought $40 worth of Bitcoin from me. So now you will have a financial gain too. If you talk about Bitcoin, you will have a personal financial gain. And they're like, oh, yes, but just let's make it clear for the story. We're going to spend it right away.  And I'm like, OK, OK. But if you didn't, if they didn't, who's going to know? I'm not going to know. Right.  Like when they're when their investment is going up through the roof, are they paying tax on it? I said, well, of course they are. Complicated to who isn't just like cash. You know, it's like up to the individual, of course, it has nothing to do with it. Do you pay taxes when you receive cash? Da, I mean, this is the same thing. Do you can people buy drugs with cash? I think pretty much that's how drugs are sold. But it doesn't, you know, it's not a problem with the currency. Yeah, there's a question here for Patrick. Do you think any nations might denominate their national currency in bitcoins? Good question. Well, that would be great. I think Hugo Hugo Chavez is on a deathbed. Maybe we can get to the new guy. Your good job is what about the guy in Cuba? Yeah, well, I think I don't think it's an issue. I wouldn't look upon the powers to be as enemies. I think that they're just doing their thing and they have control of the dollar. And I think it's a good thing just to stay out of their way. I don't think Bitcoin will ever challenge the dollar as the reserve currency, if it does, then you probably. But you know what I'm saying? Well, you know, actually, I've read some things in the forum about what was it, Greenland? Was it Greenland or Iceland? I think it was Greenland. Was that the one that had this huge economic meltdown because of the debt to the banks? Iceland. Iceland. OK, yeah, you're right. Iceland. So somebody was talking about how they're like Iceland is like rebuilding their whole economy from scratch and they're like they're like anti the central bank. And they're all about technology and also technology, privacy. They're setting up server farms and for private internet, private networking. And they're all about privacy, anti central bank. And and all these things. And it's like, whoa, I can see if I can, if I can, if anybody, you know, told me of a country that would be most likely to adopt Bitcoin as their national currency, I can see that one. Is it Iceland? Are we sure about that? Well, I wouldn't be surprised because they all see. Yeah. Did you see the video inside job? Yes. Yes, I want to see it again. They talk about the whole Iceland situation. It's a pretty remarkable story. It is like a country of 300,000 people and the banks really stuck it to them. But they just had a vote, I think yesterday, a national referendum. And they are telling the banks that they supposedly all this money to to pound sand to leave us home. They're not going to pay him. Good. I say good. These are very proud, hardworking people in an incredible country before five or six years ago, when they start doing the derivatives and took off the the regulations to these banks, they just starts, they stole their money. Wow.  No, we're not going to take it anymore.  We're a sovereign nation.  Same thing with Greece. I mean, they might end up being the first sovereign Eurozone nation. I mean, the first sovereign nation that will default on other debts. Well, I think they voted today. I had to to go ahead and do the austerity measures and people were in the streets. But today, yeah, they voted. It'll be interesting today to see or moving forward is how how passionate and fervent the Greeks, Greeks, people are about these these austerity measures and if they're going to continue to do them, or they they want to get out of the Eurozone. And that's very it's going to be a good story to watch. I love the language they use. What is the word austerity really mean? Austerity means that raining in, you know, that's why you don't get to spend as much because we spent all your money. Well, no, no, no, I know. But what's the word austerity itself by itself? What does that word mean? Like to rain in? Yeah, to rain into contract, to contract. OK, so, yeah, austerity measures is so interesting. The words that they use kind of like quantitative easing.   They're just devaluing the currency and austerity measure. It's just something that's going to rain in what? Rain in the people, rain in the opposition to the banks. What exactly is it raining in? You know, the mean the words have meaning. Well, it's going to cut or are you going to increase how many hours they put in towards every work week and it's going to increase their taxes. It's going to do a lot of things. Yeah, increase the level of slavery to the bank. The rich, the rich, richer in the poor. Yeah. Yeah. And what Patrick, what do your listeners have to say about these economic, you know, defaults or bitcoins, new currencies, etc. My listeners come from the Andy Goss School of Bunny. So they understand the game. You know, Andy's a great supporter of bitcoins. He he does have one concern. Would you like to hear that? Yes. And his concern is that it has a limited supply. And I brought that up this morning and I think that's plus, right? Because the dollar is unlimited. So I said this morning, well, that's the reason I think Bitcoin. And he says, yes, and that's the reason Bitcoin will go up in value because there's only twenty one million that will ever, ever be be made, right? Right. But the other thing, all right, go ahead, hold on, hold on a second. His argument is, and this is a philosophical and monetary one, something to think about in the future. His argument is then if bitcoins has a limited supply of bitcoins, which it does, then eventually people will save them and they won't spend them because they're going up in value. And if the currency doesn't circulate, then it's it turns in more like to just a simple investment and people won't spend them and then that defeats the whole purpose. Well, the thing is, though, that that's why whenever I say I learned this kind of early on because a lot of people had that concern that whenever I describe that the limited quantity, that there's only twenty one million that immediately brings thoughts of, oh, there's not enough as soon as they sell twenty one million, there won't be any more like a like a limited print. You know, but the fact that it's infinitely divisible is the point. Right by eight points. Yeah, eight decimal points. I mean, eight decimal places right now, but that could easily be expanded based virtually infinite infinitely. So you could have a billionth or a trillionth of a bitcoin and we could in the future. It's possible that we could be trading in TBCs, trillions of a bitcoin or something. You know, we'll come up with some new denomination, but literally you just move the decimal point and keep going. So the value goes up. We don't have any limit in supply. Horting is not a problem because it's infinitely divisible. And I think I heard someone in the forum and go ahead. No, no, no, I like that. Yeah, I thought it was only eight and I brought that up this morning. And so what you're saying is, let's see if I understand what you're saying, that if it's a similar to the dollar, if you can just creating more dollars, you can still you're not really creating more bitcoins. You're just dividing the bitcoins into pennies or quarters of pennies or eighths of pennies or thousands of a penny or whatever. So so then that would. No, it doesn't because I could save it. Save a bitcoin was worth a million dollars, then a millionth of a bitcoin would be worth a dollar. So you're in effect, if you look at it in terms of your way, you think in dollars that you still have one millionth of a bitcoin is a dollar, you know, a million, millions of a bitcoin is a million dollars. So you, you know, there's no shortage of the dollars, quote unquote, because you can divide them. So it's basically just digits. If you keep dividing them, you have an infinite supply. It's just that the limit of the quantity, all the only thing the limit of the quantity does is increase the value. And that's not a bad thing. It's a good thing because, you know, who doesn't want to hold on to a currency that keeps going up in value? Who doesn't want to accept as a merchant or charity donations or purchases? Who doesn't want to accept bitcoin? Because something that is the value is just going to keep going up. OK, let me play devil's advocate here. If that's the case, then there probably would not be a case where people will have a bitcoin banks and borrow bitcoins because you wouldn't want to borrow a bitcoin if they go up in value, you be paying back more bitcoins in what you borrow, plus interest.   Even if a hundred bitcoins is, you say you borrow a hundred bitcoins and a bitcoins worth a dollar. And then a year later, you have to pay back a hundred bitcoins. And now bitcoins worth ten dollars.  It depends on your loan agreement, I guess. What if you what if you spent your bitcoins and had to buy some so you'd have to buy them at ten times the amount that you borrowed? Well, yeah, that's right. That's right. Exactly. It's true because the value would go up if you that's true. I mean, who knows? You know, it's about the excuse me. If you think about philosophical, maybe spiritual, if you will aspect of bitcoins, which I like to think about, perhaps borrowing will never be in its future because that whole idea of borrowing and interest, it's kind of weird anyway.  Spiritually, it's kind of a weird thing. Well, sure, it used to be banned by all the main religions. You know, historically, it was absolutely banned as a sin. And it has been a crime in the past and so on. But now it's just a way of life. Because they figured out that it could be used to really enslave people. If I can keep you owing me more and more and more, you're in debt to the company store and all that, I mean, then you're just basically just a slave. Life only has, we only have so many years on this planet.  And I have all of your working years that you are enslaved to me. If I can just keep you owing more and more and more. Now, the US dollar has the opposite problem. I mean, basically, it's the same thing. If you spend the dollars, you still have to pay back the dollars. But in a way, it's true that I guess that would be an advantage. If you spend all the dollars, you have to pay them back. You can the dollars worth less. So you're right. But on the other hand, it's not an incentive to borrow, is it? With Bitcoin, that's what the banks are doing now. They're they're inflating the monetary system. So they're paying back their their debt with dollars that are worth less. That's how they that's how they deal with it. That's why they're they're big on inflating. It's it's it's the part of the model. Right. So you're right. I mean, maybe with Bitcoin going, if it if it continues to like ever increase in value, it will be a real negative incentive or disincentive to borrow Bitcoin. You could borrow dollars. People, I know people who are borrowing dollars to buy Bitcoin. They're literally going, getting a cash advance and maxing out their credit cards to buy Bitcoin. You know, that does make sense. If that if it goes up. Yeah, just like you can borrow you can borrow money on a credit card at two percent interest and buy gold. And it's a pretty interesting thing to do these people would do the same thing with gold and people do the same thing with silver. But isn't it? I mean, you know, these numbers, because you watch them every and like I know in your show, he told me that they do the price of gold every day in the price of silver. And now you're doing the price of Bitcoin every day on your show, right? Right. Oh, wow, that's great. That's so cool. So is it tell me if these numbers are right? Approximately silver went up. Wait, gold went up 25 percent last year. Silver went up about 50 percent. I'd have to look at the charts in front of me. But it's it's it's pretty close. Silver was all the way up to 50 bucks about two months ago. It's back now to thirty five dollars. They really banged it down with selling the naked shorts from JP. But gold just keeps trudging forward at fifteen hundred bucks. Just keeps that there's not been a big correction with gold. So they're selling paper, basically paper silver that doesn't necessarily exist as what happens is JP Morgan and the other owners of the Federal Reserve Bank, they have a unlimited supply of dollars, Bruce, so they they can bet that silver is going to go down without owning silver called a naked short. And then that's how they drive the price down. They like to keep these prices down because if they get too high, people get scared and it's and they like to keep people thinking everything is cool. Right, because if they see silver and gold going way, way up and the dollar continues to go down, then too many people might want to flee the dollar. And that's it's like a thermostat. It's kind of like the oil prices at the gasoline prices of the gas pump. They want to raise it, raise it, raise it until right before people are so angry, they're going to start taking to the streets. Then they all of a sudden they drop it a bit. It's it's like it's almost like you're dealing with your spouse and you're turning up the temperature and she wants it lower. You want it higher.  And eventually that that's how they guarantee that they are charging the absolute most they can for oil when that people are willing to pay without rioting. Right. And similarly, they want to they don't want silver and gold to go up so fast that people just flee in mass from the dollar to gold and silver. Yeah, free market is it's a is oxymoron. It doesn't happen. Yeah, because it's so manipulated. Yeah, they're just kind of manipulating the commodities. It's all it's all controlled and it's controlled by the plunge protection team which came into existence. I think what they're in Reagan and those are the boys. We call them the boys that do this. What I wonder if this could happen with Bitcoin. Do you think Bitcoin could? How could it? Let's see. What do you say? Well, I guess it could. I mean, someone, if they wanted to drive the price down, they could certainly take a hundred thousand dollars. But let's see. What would they only if there's going to be a market of derivatives market on Bitcoin where you can sell it short or bet that it's going to go up. But I would I would advise the Bitcoin community not to get involved in that kind of stuff. So those are the derivatives and I would keep it clean. Of course, people could create their own derivative paper just like to do with rich back security so you couldn't stop them. So that's right. You can't really stop them. And I think that there has been talk about people doing that. So that could be I mean, how does a derivative market affect the market? Excuse me. Let me let me let me say something. I wasn't correct there. The reason the boys can manipulate silver because it's traded on the Comix, which is a they own Comix. So if the boys, the powers that be, do not own the trading platforms, it doesn't matter if they do bets on the side. It's just like going to Vegas. It doesn't affect the price. Right. Makes sense. Yeah, that's what I didn't understand because if you're doing bets on the side, it shouldn't affect the actual item, the value of it. It will not. No. But see, they do it within Comix. Oh, because they own the market. Well, no, I mean, so they could take a million dollars and say, OK, I'm going to bet a million dollars that silver is going to go down. And that that gets integrated into the Comix that I'm reading right now in front of me the price. And that's what drives the price down. OK. Just like in just like in trade hill, if somebody would sell a million bitcoins for less than what they're worth, which would be dumb, it would drive the price down. Well, that's what happened actually at Mt. Cox when the hacker broke into the account, right? He sold all of them for a penny a piece and that made it artificially made the price go down. But that's an argument for not having one central exchange. If there's multiple, multiple exchanges, then only that one exchange will be affected and people can see through it. They'll go, well, look, all the other exchanges are fine. It's just that one exchange that's being manipulated, right? Yes, in other words, if somebody really wanted to drive the price of bitcoins down, they would have to spend real money out of their bank account like a million dollars and but see, it still doesn't make sense. They'd have to buy bitcoins and then sell them. I guess they could theoretically. But even then, it would only affect that one market. I mean, well, there would be a little bit of a ripple effect with people panic selling on other markets, but it wouldn't be a direct impact on any other market but the one. Really? Now, wait a minute, let me understand. So are you saying that if somebody goes on trade hill, buys a million bitcoins for 17 dollars and whatever that dollar amount is and then wants to drive the price down and sells them for five cents and loses their million dollars that it doesn't affect the worldwide price of bitcoins? Well, I mean, not directly because it will affect the I mean, first of all, if they buy a million dollars worth of bitcoins, that's on trade hill, then that will affect the price on trade hill because that makes it go up.  And that's first of all, it makes it go up. And then later, if they sell it, that'll make the price. If they sell it on trade hill, that'll make the price on trade hill go down. So I mean, it's that's the market. But that's just trade hill that there are other other exchange sites. There's Mt. Gox and others are they're springing up like crazy. And so as there are more and more and more exchange sites appear on the scene, then there'll be less and less influenced by one unless unless they do this on all the exchanges at once.  I don't I don't know. I don't really know how that let me let me ask because I I'm beginning to get a clearer picture. I had the wrong impression. So I was lucky. I've been looking at Mt. Gox and Bitcoin amounts, values. But you're saying that these are separate trading platforms and each one is only dependent on what is being bought and sold on that platform. They're not connected. And that's the beauty. That's the beauty of not having a central bank. That's right. It's like it's almost like each one is its own little New York Stock Exchange, but there's not just one. There's many. So if there are many exchanges, then beautiful thing, what a beautiful thing. Absolutely. That's a beautiful thing. I just got a light bulb this one up. That's very cool. Well, to me, it sounds like, OK, so you're you're getting an understanding of Bitcoin and I'm trying to do the opposite. I'm trying to get an understanding of how it works with with these derivatives and all this crazy Wall Street mumbo jumbo. To me, it sounds to me like what you're saying is this Comex is like a market for derivatives and they own it. And it sounds to me like it's corrupt because if they can actually manipulate the market and there's really only one de facto standard market and they're manipulating it through their own transactions behind the scenes, that just sounds like like a corrupt exchange is what it sounds like to me. But I don't know. I mean, I don't really understand how it works. No, you're right. It's just a choice of words, Bruce. It is corrupt in its pure essence, but it is legal. And I could I can call my broker right now and say, I'd like to bet. I'd like to buy, you know, four hundred thousand barrels of oil on paper and have the ability to sell them at one hundred and twenty five dollars a barrel come next March. And that will that will drive the price up a little bit. And then I can start a war and then and then people get scared and they think they're going to run out of oil and it goes up to one hundred and twenty five bucks and they make money. So there you have it. That's like the essence of banking. It's corruption that is legal. It's like corruption and manipulation and slavery and using indebtedness. It's legal. I mean, the whole this is the whole economic crisis is basically corruption that is legal. So I want to get clear on this because this is a big point because I just rocked this and I think this is this for me. This really adds some really more value to bitcoins. OK, OK, so you you're going to have all of these different trading platforms out there, Mount Cox, Trade Hill, there might be a hundred. Right. So so there are a thousand. There won't be a central place where somebody could go in Bill Gates and buy five million dollars worth of bitcoins. I mean, he could do it on a hundred or. But I'm saying without it, without a wow, without a central authority, it really is a lot more stable. Right. And also remember, most transactions do not happen on these exchange sites. Most have most happened between Fred and Marge and Tony and Sue, ordinary people who buy and sell bitcoins among themselves. They're friends and neighbors. They meet on that BTC near me dot com. And if you go to bitcoin me dot com and click buy and sell, you'll see how to meet somebody locally. And they buy and sell, you know, in exchange currency for bitcoins. It's not on any market. So I mean, it's independent on the market values that are there. Yeah, yeah. But, you know, like I say, there are major markets now. But yeah, there could be hundreds. There could be thousands of markets in all countries all over the world. I mean, who knows? Iceland could have its own, you know, major market.  That's cool. No, I like that. So in other words, if I buy bitcoins at ten dollars, a hundred of them, and you want to buy them tomorrow from Patrick at 17, because that's the price. That doesn't affect the price at all, because it's it's not on a trading platform. Right. It's just, you know, it's what we agree on. It's just like gold and silver. You know what, Patrick, we were out of time. Oh, my gosh, we got to do this again because, you know, this is great.  I mean, there's so much. Every time we talk, we learn, we learn and teach and learn and teach. That's what we're all about. Well, thanks for joining us today. We're out of time, but we're going to do it again and we're going to have you on every week, every Wednesday at 10 a.m. on the real world of money. So thanks for joining us today. Thank you. We really, really appreciate you taking the time. OK, see you guys all tomorrow at 2 p.m. But yes. And also stay tuned at 4 p.m. Eastern for the Spanish Language Bitcoin Show called El Show de Bitcoin. See you guys tomorrow.


Hey, what's up coach welcome back to our channel in today's video? I'm going to be giving you seven ways to add new clients into your training program Now this is for you if you are a coach or a personal trainer that's looking to grow your business and These are proven Strategies that have helped me a lot the past decade with my business These have helped a lot of coaches and trainers that we've helped all over the world over the last four and a half years since we started helping coaches and I know these will help you and this is going to require a pen and a piece of paper If you have those two things I want you to write notes and I also want you to ask me questions in the comment section If you have any questions for me Ask me questions there. I will be happy to help now. I have my trusty notepad here All right, it's got the seven different ways. All right, then I'm going to be helping you the first is we need to deploy and Defend your marketing message Now, what do I mean by this? This means that Whatever emails or whatever social media whatever videos you post you need to Deploy marketing that's number one and you need to have your own message. Your messaging should be unique to you All right, if you do what everyone else does, you're not going to be unique. You're going to Fit in with everyone. You need to have your own style your own I would say your own mix of How your marketing comes across and you need to defend your message Right, so here's a great example very simple for me on this YouTube channel I Deploy Videos three times a week. I defend my marketing message because I always constantly talk about how Building a business takes time. It's not this overnight thing A lot of people on YouTube talk about this overnight bullcrap success I talk about the opposite because I know what works and I know it doesn't work All right, and I will defend that message until I'm dead All right, so that work that works really well for me and that attracts coaches who think that way To get on a call with me All right, that's why I defend it All right, I cannot be all over the place with my marketing I need to be focused and I need to deploy Many messages and I need to defend my message So you have a stance you have a clear-cut stance with where where do you stand? All right with how you think Okay, that's very important because how you are on camera how you are in real life I should be the exact same All right, but your marketing should draw in the right types of clients that you want to work with and it should deflect everybody else All right, I'm very clear about that. You should deflect everyone else. Not everyone's gonna love you. I Know for a fact not every coach and trainer that watches me loves what I talk about and that's fine Cowboy and I are chilling. All right. I don't care about that I care about helping All right, so that's it now the second one here. This is standard. This should be standard within your business Every 30 days we go to your clients and we tell them about your referral program All right. Now if you have one client Who refers a ton of new clients in your program? They are doing the marketing for you and If they know like and trust you they're going to want to refer Clients into your program. So you should every 30 days go tell them like find out what they like this is why it's a relationship business when you find out what your clients like and We say hey When you refer a new client in you get this or I'm going to give you this gift card or I'm going to do this Whatever this right? It's simple. You know what they like You're giving them something that they want and they are adding new clients in your business. It's a great way simple way to Grow your program. All right That's the other one and when you think about referrals That should be something within the first 30 days when you add a new client That's something that they should be they should know about right because whether you think this or not Your clients want you to have a successful business. They want you to succeed They are taking time out of their life to meet with you throughout the week They are investing already into you. So they want you to succeed, but oftentimes Clients are not going to just go get your referrals Right and a lot of coaches and trainers Think that that's going to happen and that doesn't happen. So you need to tell them you need to ask them All right, you need to give them instruction on how to give you referrals. All right, very very important All right, next one here. This is very very key and I am very certain Most and I'd say 95% of coaches and personnel are not doing this Which is you need to be improving your sales percentage on a monthly basis All right now does that mean that you're going to be able to close 10 out of 10 clients? No, that's not what I'm talking about. All right, but I am talking about At the end of the month, you should be able to track all of your calls all of your sales calls Whether you have someone doing that for you or if you were doing personally That is something that you need to pay a very close attention to right the easiest way to figure that out is We have total amount of calls right Total amount of converted calls right and the notes of why Those who did not convert why did they not convert and then we go back in the next month and we start to Understand, you know, what are their objections? So now we can cover these objections in this next month So these are not no longer objections anymore. We can turn those into positives We can we can make our program set up now to where you know that those objections might be included within the program right this all comes down to measuring and Understanding stats within your business. You don't have to have a Harvard education to create a spreadsheet All right, obviously like in our mastermind program. I provide all the templates all that stuff for you You don't have to lift a finger But that is something you absolutely should be doing tracking every call When you do that you add to clients, right? Because let's say you're at Let's say you're at 15 to 20 percent of the calls that you have in close If you raise that percent by like five percent Over the course of a year that is going to make a huge difference If you raise that by like 10 percent or 15 percent You're going to have a completely different business and this is why when we talk about Calls you need to get reps You need to get reps. I know most coaches and trams hate getting on the phone. I know that I Used to hate that too, but that is going to be the Way you're going to be able to add clients your communication what you say how you close Like how well structured is your is your conversation? Are you asking the right questions? These are things that are very very critical that a lot of people just They are just not taking it as serious as they should okay Next one. This is not a tactic. This is a routine That you should have every morning when you wake up. You should have a schedule that you follow right if your Schedule is iron cloud and you know that that is non-negotiable There should be zero reason why you are not growing your business period now Here's where a lot of people fail they wake up and then try to figure it out Right, this is where I succeed is where a lot of the coaches in our mastermind where they succeed before they go to bed They write out what they're doing tomorrow and they do what they say they're going to do and Then on that schedule they are mapping out their day to a tee That's something you absolutely should be doing if you're not doing it, right and it's not It's not people who are lazy They don't do it. It's people who are undisciplined All right, so if you are disciplined you will do that every day You will take your life very serious.  You'll be able to create way more freedom right entrepreneurs need structure right and I used to think I I used to think this when I had my last job. This is a long time ago I used to think oh when I have a business, I'm gonna get to wake up whenever I want I'm gonna get to do whatever I want during the day and then I quickly found out That's not going to lead to a successful business right you need to have 100% structure from the moment you wake up to the moment you go to bed and That should be written out can't just figure it out like no one just figures it out during the day That's that's not how you should operate You need to operate like a CEO and the CEO is going to operate where would they wake up in the morning? They see on their calendar my calendar is right here. All right, they see all right This is what I'm doing hour by hour today, and I'm not going to deviate. That's the level of focus. I'm talking about all right Next one here this number five Have a non-negotiable 30-day Target for sales. So this is very important If your goal is alright, I want to close four new clients in my program This month Then the goal should be Whatever four times the amount of money that is let's say it's three hundred dollars a month per client That's a twelve hundred dollar goal That is non-negotiable So you are promising yourself that over the next 30 days You're going to have the amount of sales calls that you need in order to close Four clients and that means to be done by a certain date. It's non-negotiable You're giving yourself 30 days to do it now when you have that sense of urgency it's easier to Get more clients because you're giving yourself a deadline and Whether you fall short of that deadline or whether you exceed that That goal by a lot To me, it's not going to be about putting a lot of pressure. It's giving yourself more urgency You need to have a heightened sense of urgency to be more successful with your business Right if I'm like well this month. I want to add more clients That's not specific Right that could be one client that could be a hundred. No one knows what I'm talking about So on my whiteboard, I need to be clear on Here's how many clients I will add into my program over the next 30 days and Then after that I put here's how many sales calls I need to have for the next 30 days to make this happen How do I know what that number is because I've been tracking my calls? So when you track your calls, you know your stats And when you know your stats, you know how many calls are needed in order All right to close for clients Pretty simple All right Next one here. This is so important. All right You need to build the best reputation Now let's just take a step back real quick and let's think whatever city or state or country you're in doesn't matter we know that if you're in a conversation with some of your friends and They're like, hey, where do you want to go eat? think the first restaurant that comes to mind for you is probably your favorite restaurant and It's your favorite restaurant for a variety of reasons They either have the best food or the best service or the best drinks or like the best dessert whatever it is but they have built that reputation with you as the customer and That's why you like it the most Right and when you like it the most you are going to probably spend more money than their average customer Right because that is a restaurant that you really really like They have built that reputation with you. It's in your mind. It's your favorite thing It's the same thing across every industry if you need to go get your oil changed or you need to go get your car fix or you need to go to a Doctor or you need to go see a lawyer.  That you are the go-to expert for solving the problem. They're not right? We're in 2020 Everyone's looking at reviews. Everyone's asking questions to the friend. Hey, have you trained with this guy before? Right that happens that happens. So your reputation Should be the thing that attracts new customers in and It's not difficult to have a good reputation as long as you are providing results, which would be the last thing we talked about and you are Really good to people. You really care about your clients. You're going over and beyond you're giving them something Like when they pay for a program when they pay and invest into you, you are giving them something ten ten times in return Right, you are solving their problem and you are making their life better and With that your reputation is better because you actually care about your clients You have systems in place that are going to make it easy for your clients to know like and trust you Right and a lot of that has to do with how your business is set up. How is your program designed? Right those things are very critical But if you have a crappy reputation, you're gonna get crappy clients You have a good reputation going to get great clients who are very loyal To you in your business for a long period of time Right and you get to decide what your reputation is That's up to you Last one here. This is my favorite one Because this is what a lot of people don't focus on right? It is you must become a result based company right This means that your business is not about you It has nothing to do with you. It has everything to do with your clients your clients and Showing their success stories over and over and over and over and over again It's how you are going to get new clients. That's how you grow your business By becoming a results based company. So what does that mean? That means that you are the best in the world at solving your client problems You can do it faster than everyone else You have more results. You have more case studies. You have more transformations Your clients are really happy working with you. You have the best accountability systems on the planet These are the things that allow you to Run a results based company and here's the deal if you're a trainer Don't you want your clients to get good results? I don't we want them to get results faster And don't we want to showcase the results so other people who are Who are dealing with those same types of problems can join the program All right, it makes sense But you need to frame your business right as a results based company And your social media should be the thing and email marketing should be the thing Where you highlight your clients you talk about their success stories talk about where they were where they are now We get videos of your clients talking about you know before I started this program Here's where I was and after we joined the program. This is what happened. Here's where I am now All right, we show the transformation Of your clients and we do that over and over and over again All right, when you do that and you're consistent All right, do you get more clients? Period. Here's the deal. All right When coaches join our mastermind program Before they do that they see a long series of testimonials videos They see results from other coach we've helped over the last couple years and there's a lot of them and then on Instagram I have over like 200 testimonials on there. All right So it's easy for a coach who watches this YouTube channel to trust that I know what I'm talking about because we have gotten results Now if there's your results, it'd be very difficult For someone to want to join because they'd be very skeptical Right, so I defend our consulting program with results Over and over and over and over again. That's all I care about I don't care about anything other than helping you as the coach and trainer give results so you can grow your business period All right, and if you're watching this video, you're like dang I Want to check that out. I want to see what that program is about all you have to do first up They send me a text message at 2 1 0 9 6 0 5 7 7 1 When you text me there, I will send you the next steps. Just tell me your name You know what type of sport or what type of trainer you are and then from there I will send that over to you. You can check it out And I will tell you like you're going to realize after you watch this video that I have You're going to see the gaps that you have within your business. You're going to see where you could be Right, you'll see where you can be with your business. So that's it guys. Thanks for watching the video. Take these seven tips I promise you these are gonna help you out a lot. They will help you out tremendously if you implement them That's it. I'll see you later. Shoot me a text if you have any questions


In these conversations about gender, race, poverty and so many others, the scale is too big for any one sector to tackle on their own. Obviously governments around the world have been on the front lines of addressing global challenges for centuries, but I've been so pleased to see the participation of government agencies at SOCAP increasing year over year. And I think this participation is really reflective of increased collaboration in a variety of ways between government and the private sector. So I'm so excited to welcome today Sarah Glass, who is the director for the Center for Transformational Partnerships at the U.S. Global Development Lab. That's USAID's agency that really champions the involvement of the private sector in advancing development outcomes. And Sarah has a range of exciting updates out of this department, so please welcome Sarah Glass. Good morning. And thank you all for being here today, not just for being here, but also for the great work that you're doing around the world. Thank you especially to SOCAP for bringing together this really inspiring group. Yesterday was a fun day, wasn't it? I just really know that the energy from this week is going to carry into new deals and partnerships that will have a positive impact in local and global communities around the world for years to come. As Lindsay said, the U.S. Agency for International Development, also known as USAID, works in more than 80 countries to lead the U.S. government's international development and disaster assistance. Through partnerships and investments, USAID helps save lives, advance U.S. national security and economic prosperity, demonstrate American generosity, and promote a path to community self-reliance and resilience. Over the last two decades, we at USAID have been committed to seeking new ways to collaborate with investors, entrepreneurs, and innovators to make a difference around the world. And we've made really good progress together. In fact, under the leadership of a number of talented people who are here this week, including Ann May Chang and Chris Juergens, who will join the main stage shortly. As we look forward this year, I really believe we've reached a watershed moment. A moment where business leaders, investors, and entrepreneurs now believe that understanding and focusing on the social and environmental impact of their businesses will make them better business leaders. And a moment where civil society and public sector leaders now believe that understanding business and the business case for social impact will make them better leaders in the social sector. So the question is no longer if we should work together, but how? And even the question of how is no longer as much of a question. Nearly everyone here has worked through pitch competitions, rounds of debt and equity financing, lengthy term sheet negotiations, prizes, challenges, and yes, even bureaucratic government grant processes to find creative pathways to partnerships that work. With that in mind, I would like to use this moment to issue two calls of action as we all continue to look for the hows that work for our organizations. Number one, if your business case doesn't work on your own and it has strong potential for positive social impact, don't shelve it. Open it to new kinds of partners. And number two, invest in women. In businesses owned by women, in businesses led by women, in businesses that employ women. In too many places, we're still missing half the workforce. At USAID, we're transforming the way that we do business to focus on supporting our partner countries on their journey to self-reliance. Or to put it another way, all of our programs should look forward to the day that they are no longer needed and we must measure our progress by how far we move each day towards that goal. As part of this shift, we know that private enterprise can be the single greatest force for lifting lives and achieving sustained development impact. For that reason, we're embracing what we call enterprise-driven development. We know that only through attracting private investment and facilitating inclusive market growth will countries see sustained development results at scale. In order to integrate this philosophy across all of our work, later this winter USAID will publish a new policy that will serve as a call to action for all USAID staff and partners to ask and address three questions every time we approach a development or humanitarian issue. First, is there a market-based approach that would be valuable in addressing this issue? Second, what are the roles and the interests of the private sector in addressing this issue? And third, are there factors constraining the private sector from involvement or investment in this issue? We believe that by proactively assessing and addressing each of these questions, both USAID and our partners will open opportunities to new ventures and more sustainable market-based approaches across our work. We're also committed to continuing to make it easier and more streamlined for the private sector to collaborate with the US government through a variety of tools and approaches. Earlier this month, the US Congress passed a new law called the Build Act, or the Better Utilization of Investments Leading to Development Act, which will bring USAID's Development Credit Authority, known as DCA, and the Overseas Private Investment Corporation, better known as OPIC, into one US International Development Finance Corporation. The establishment of this new Development Finance Corporation creates a unique opportunity for USAID to expand and scale the use of a broader array of financing instruments and support for development. I'm really pleased that David Bohigian is here from OPIC to share more on this this afternoon. Overall, we're really excited that through the creation of this new Development Finance Corporation, our teams and our partners around the world will be able to take advantage of an expanded toolbox of financing options, including debt, political risk insurance, and equity. And so I'll repeat my ask of you. If your business case doesn't work on your own and it has strong potential for positive social impact, don't shelve it. Open it to new partners. We're open for business and excited to be growing the ways that we can work together. In fact, we're so excited about a number of things we are doing across USAID's 80-plus country programs that I have a list of things that our teams wanted me to share with you. So hang with me. I'm going to move fast, and it's all great stuff. Last month, we announced the reopening of our Development Innovations Program, also known as DIV, which is a funding window that focuses on piloting, testing, and scaling creative solutions to any global development challenge. It invests in early-stage entrepreneurs who lack the funding needed to refine and expand their solutions because they're deemed too risky for traditional investors. DIV is open to anyone from anywhere. And over the last month, we've had nearly 200 applications and nearly 1,000 have been started. We invite you to join them. In partnership with the United Kingdom and the Netherlands, USAID recently announced 23 finalists to our Humanitarian Grand Challenge. The challenge was designed to enable governments and the private sector to work together alongside affected communities to test new approaches to address the unprecedented magnitude of suffering around the world. And a few of those finalists are here at SoCAP this week, including the Rainmaker Enterprise, which is piloting a system of solar-powered water pumps and sensor-driven drip irrigation in South Sudan to support the livelihoods of conflict-affected people, as well as Needs List, which is implementing a chatbot program that aggregates real-time humanitarian needs from frontline responders. Earlier this month, we were also pleased to announce new partners under USAID's Partnering to Accelerate Entrepreneurship Initiative, better known as PACE. Our new partners include the AgaCon Foundation, Finca International, Growth Africa, New Ventures, and Stage 6, all of which work to catalyze private sector investment into early-stage enterprises and identify innovative approaches that help entrepreneurs bridge the pioneer gap. To date, PACE's public-private partnerships have supported more than 1,000 enterprises, catalyzed more than 100 million in private funding, and created more than 11,000 jobs, more than 3,000 of which were for women. But that's not enough, because our research in conjunction with this initiative showed that women-led businesses in the PACE portfolio significantly outperformed their peers, growing revenues 1.5 times faster and jobs twice as fast. Yet, despite owning faster-growing businesses, women aren't raising significantly higher amounts of capital. And so I'll repeat my second ask of you. Invest in women. It's good development, and it's also just smart business. In closing, I want to open the door to collaboration, not just through USAID's programs, but also in shaping our strategies. This fall, we were really pleased to partner with nine other US government departments and agencies to release the first-ever US government strategy on international basic education. As next steps, we are seeking input from across the public and the private sectors into USAID's new policies and plans to implement this strategy. We're also in the process of developing a blended finance roadmap on how USAID can source and execute transactions that attract new private sector capital and in-kind investments for global health impact. This roadmap will highlight initial opportunities in India, Tanzania, and Liberia, and USAID welcomes input and collaboration from financiers, investors, and other stakeholders interested in blended finance approaches for health in these and other low- and middle-income countries. Last, and I know of great interest to many in this room, we're currently developing a new digital strategy for USAID, which will offer best practice guidance to our country teams in pursuit of growing sustainable digital economies and social services. Approximately four billion people in developing countries still don't have access to the internet, and women are still, on average, 14% less likely to own mobile phones than their male counterparts. For this reason, USAID is seeking co-investors to the Women Connect Challenge. Expanding digital infrastructure, access to digital financial services, and information-sharing platforms can be transformational for communities that have not been connected to these resources. There are representatives here at SoCAP from USAID interested in your ideas and input into all three of these areas. So I come back to my starting asks of you. I can promise that for each of these strategies, we will be investing in market-based approaches that have an impact for underserved and marginalized communities. As part of that, we will continue to invest in women and girls, and we hope you will too. And also, we're very much looking for your business cases alongside your impact cases. We hope you'll share them with us. But not just you. You're already here. You're already a believer. Social capital is a movement that needs new followers every day. So please make connections for your colleagues and partners who aren't here. To link back to the video from yesterday's opening session, let's bring more people into the tent. Thank you for the opportunity to share some of the ways that USAID and the broader US government are building new pathways to advance development impact through market-based approaches. As I said at the outset, this is a really inspirational group. And we're excited to exchange ideas, make connections, and learn from many of you at SoCAP 2018. Thank you.


Good day everyone. I am Assistant Professor Rushad Mastri from the Mechanical Engineering Department at Valgyan Institute of Technology Sharapur. And in this video, I'll be talking about machine vision applications. This is a two-part series in which we talk about machine applications, machine vision applications in different aspects of industry, defense and so on and so forth. So the learning outcomes of this session are that the student will be able to list applications of machine vision and then explain applications in industry. So let us recall the definition of robot vision and robot vision, computer vision and machine vision. In fact, we had done this in the previous video. Like I said, in many cases, I've seen these definitions being used interchangeably. But I would define computer vision as the study and application of methods which allow computers to understand image content and machine vision is the application of computer vision to industry and manufacturing. And robot vision in very specifically is the application of machine vision for industrial robotic applications and now for mobile robot applications. So here I've taken a very simple application of machine vision and this involves pipe counting. So this, in fact, from the website of a machine vision software developer called Robo Realm, they are third-party developers of image processing and machine vision software. An important aspect when it comes to machine vision application is when it comes to quality control and inventory management. So this is one application in which machine system has been used to count the number of pipes in this particular setup. So very simple tasks. The machine vision, what this particular application does is, in fact, it uses what is called as edge detection in order to find out the edge of the pipe. Then it sharpens the edges, refines the whole process, draws a circle around the pipe and then uses an algorithm to count the number of pipes. So it's quite a straightforward application implemented in a very simple, at the very robust way. So these are the kind of applications you would come across in industry very frequently. Another application from the same source is on object classification. So what this particular example tells you is, what the software has done over here is, there are three types of poles, in fact, that you can see on the screen. This is a red bolt over here. These ones with the violet color, these are for now a different size. And then you have these green colored bolts. And what the software has done is, it has automatically categorized these bolts separately, and it has also counted them. So it has counted one red bolt, seven green ones, and I think three blue colored ones. In fact, it looked purple to me. It's blue. So this is, again, a very typical application of machine vision in automation and industry, where they are used for object identification and classification. Another important application in quality control, and this is in food processing in industry quite frequently. So in fact, if you watch National Geographic for in mega factories and stuff where they show how it is made, you will see applications of machine vision to do something like this. So in this case, it's actually what the machine vision is trying to do is find out if this coke bottle is filled up to the correct mark. So it's based on a very simple edge extraction screen. And if they see that is up to this particular level, a simple metric is used and simple arithmetic is used. And it's basically a very simple pass and field task. So again, a very classic application of machine vision that you'll find in industry. Now, when it comes to semiconductor industry, it's one of the most, you can say, extensive users when it comes to machine vision applications. So here, you'll find applications which deal with inspection of silicon wafers for microchips, for the integrity of components such as resistors, capacitors, and in fact, even regarding their connections, the leads, the solders, if they are correct or not, quality checks regarding PCBs and so on, a very extensive use of image processing done in the semiconductor and electronics industry. To examples here, in fact, it's basically for a dimension check for an electric socket. And the other one shows an image processing trying to ascertain whether the PCB has been built correctly or not. So like I said, this is faulty component identification electronics is the same image. In fact, is a very widely used application in the electronics industry. Machine vision is used to identify faults in components. Sometimes even during operation, high amount of thermal energy is generated and infrared cameras can be used to capture these faults. And infrared imaging is also, but this is very specifically using even testing and even during actual usage as well as a part of diagnostics. A very, very popular application of machine vision is part identification and categorization based on 2D and 1D barcode reading. So which we call QR code nowadays, which is quite popular now for payment gateways and stuff. So verifying moving parts to fabrication process, they typically use a QR code and vision systems can do this at several tens of pieces per second. Then product identification is sorted. This is again done with the help of barcodes and this is where machine vision systems come into picture. They also use the same for date verification, lot verification. And if there's a problem, then that can automatically flagged off. So again, this is a very popular application for machine vision systems. Like I said, this is again, another example of barcode recognition. In fact, barcode recognitions have become now so popular and so common, you find this in pretty much every supermarket that you find. In fact, barcode recognition and QR code definition is available in even in cell phones. It's now a very basic feature which is built into pretty much every mobile device. Machine visions are a bit different in the sense they have to be in a more of a rugged environment. So they are built differently and they are more rugged. But in terms of algorithms and functions, they are pretty much the same when it comes to any barcode recognition. In fact, the one at the right is it includes an optical character recognition as well, which is checking for dates and labels. So this is also one very popular feature nowadays for machine vision applications. Another important application is measurement that is gauging and verification of tolerances for floor detection and stuff. So in metal industries, it's essential to detect flaws and surfaces. It's very difficult for an operator to do the same. Machine visions can do it very precisely and very fast. Important application is gauging and verifying tolerances. So a lot of precise machine tools when they are built, a highly specialized and dedicated measuring system is used to check whether they have met those manufacturing tolerances or not. They prevent your maintenance. Can you think of certain applications in science and medicine? In fact, if you have visited any CAT scan center, typically that's a machine, sort of a machine vision application as well. So when it comes to scientific applications, two things crop up. One is in biomedical and bioscience applications, the other is physics. Spectroscopy is again a very popular application for machine vision systems. So spectroscopy measures light or electromagnetic radiation. And it's basically used in astronomy and remote sensing to determine chemical composition and physical properties of astronomical objects. In fact, there's a dedicated branch within machine vision, which is meant for astronomy and astrophysics. Similarly, another important application is in fact, microscopy. It's a topic on to itself. So electron microscopes are in fact one of very specific applications of machine vision systems. Another application in fact is biotechnology. For example, dental x-ray imaging, CT scans, scans of organs. So in fact, medical applications for machine vision systems are tremendous and they are ever increasing. This is again an example of what imaging when it comes to medical applications. So you have dental imaging, disease identification. In fact, image processing for medical image is again is a very specialized field. Okay, then you have very dedicated algorithms, which which can extract information from even poorly developed images. So it's in fact, it's a very well developed field of motion vision, which comes into medicine. Another important application is like, for example, detection of tumors, etc. This is an example of a brain tumor which has been captured by a camera and then image processing. In fact, artificial intelligence now can detect tumors with more than 95% accuracy. In fact, it exceeds that of top top radiologists and technicians. So mammograms typically they are analyzed using image processing such as segmentation shape analysis, enhancement feature extraction and then matching. So like I said, the best resource for this are online resources. And there is plenty of information available on the internet from manufacturers themselves. And I would definitely encourage you to look at the website of these manufacturers for very relevant and very detailed information on regarding applications of machine vision systems. On the other hand, the very classic book on robot vision is Four and Gonzalez. Some of the very basic concepts are discussed in a very simple and neat manner in this particular book. Other than that, if you're looking at machine vision and detail, there are dedicated books available on the same subject. With this, we'll call it a day for this particular session and we'll discuss some more applications regarding defense and surveillance in the next part. Thank you.


Communism is the ultimate hate supremacist movement. It's a hate movement against 3.8 billion men.    That has become normalized for American women today. And it's getting worse every day, every month, every year. So we see women now marching in the streets by the millions. No other hate movement in history has scaled to that level. In 2019, the war on feminism goes global. Feminism is, of course, infected Europe as well. Feminities have overrun Europe. We need to fight back. We need to defend ourselves. Go to Warsaw.


The autonomic nervous system is not unlike the electrical system in your car. Crisscrossing wires send electrical signals to speed this up or cool that down. The beating of your heart is controlled with clock-like precision by this complex electrical network. But a glitch can cause the heart to beat dangerously fast, putting the whole body at risk of shutting down. A recent study conducted by researchers from UCLA provides critical insights into a promising treatment option for this dangerous situation. They've shown that the best way to slow a fast-beating heart is by going straight to the source, the spinal cord. A healthy resting heart rhythm looks something like this, with a typical rate following between 60 and 100 beats per minute. An imbalance in the autonomic nervous system, however, can lead to a rhythm abnormality, termed an arrhythmia. Ventricular tachyarrhythmia is a faster-than-normal rhythm characterized by a rate above 100 beats per minute and originating in the lower chambers of the heart. Because excitation of heart muscles is controlled by nerves originating in the spinal cord, a therapeutic method called thoracic epidural anesthesia has been used to target this area. Thoracic epidural anesthesia is the delivery of numbing medication directly to the nerves in the upper-middle region of the spinal column. The idea is to inhibit the over-excited signal before it reaches the heart, though shown to be clinically effective, a complete understanding of its electrophysiological effects is lacking. Using pigs as a model, the research team strategically placed 56 electrodes on the animal's hearts, simulated the neural signals responsible for ventricular tachyarrhythmia, and administered epidural anesthesia. This allowed them to create high-resolution maps visualizing the effects of thoracic epidural anesthesia on heart rhythms. They found that this technique successfully suppresses the electrical signals sent by the autonomic nervous system and improves electrical wave stability in the heart. Importantly, the study suggests that this effect only occurs during over-excitation, not during normal resting conditions. These results further our understanding of the therapeutic effects of thoracic epidural anesthesia on ventricular tachyarrhythmia. By blocking the neural activity responsible for over-stimulation, this technique may help millions of people suffering from heart arrhythmias.