WEBVTT

00:04.400 --> 00:09.100 align:start position:10% line:74% size:62.5%
>> NEXT WEEK, THE CHICAGO

00:06.033 --> 00:11.733 align:start position:10% line:74% size:67.5%
FUTURES EXCHANGE WILL BEGIN

00:07.166 --> 00:13.966 align:start position:10% line:74% size:75%
TRADING IN BITCOIN FUTURES AND

00:09.100 --> 00:15.500 align:start position:10% line:74% size:67.5%
JUST ONE WEEK LATER THE CME

00:11.733 --> 00:16.100 align:start position:10% line:74% size:57.5%
GROUP WILL DO THE SAME.

00:13.966 --> 00:17.866 align:start position:10% line:74% size:75%
THE CRYPTO CURRENCY IS SOARING

00:15.500 --> 00:19.700 align:start position:10% line:74% size:22.5%
IN VALUE.

00:16.100 --> 00:21.433 align:start position:10% line:74% size:70%
AT THE START OF THE YEAR ONE

00:17.866 --> 00:24.800 align:start position:10% line:74% size:62.5%
BITCOIN WAS WORTH $1,000.

00:19.700 --> 00:28.033 align:start position:10% line:74% size:67.5%
AND TODAY THEY ARE CHANGING

00:21.433 --> 00:30.666 align:start position:10% line:74% size:72.5%
HANDS FOR MORE THAN $13, 300.

00:24.800 --> 00:32.033 align:start position:10% line:74% size:77.5%
SO HOW HAS THE CURRENCY FAVORED

00:28.033 --> 00:35.266 align:start position:10% line:74% size:75%
BY FRAUDSTERS AND DRUG DEALERS

00:30.666 --> 00:37.833 align:start position:10% line:74% size:40%
GONE MAINSTREAM?

00:32.033 --> 00:39.133 align:start position:10% line:74% size:77.5%
HERE TO EXPLAIN WHAT BITCOIN IS

00:35.266 --> 00:41.200 align:start position:10% line:74% size:80%
AND WHY PEOPLE PLACE FAITH IN IT

00:37.833 --> 00:42.500 align:start position:10% line:74% size:57.5%
IS SARIT MARKOVICH, THE

00:39.133 --> 00:44.233 align:start position:10% line:74% size:62.5%
PROFESSOR AT NORTHWESTERN

00:41.200 --> 00:45.633 align:start position:10% line:74% size:75%
UNIVERSITY'S KELLOGG SCHOOL OF

00:42.500 --> 00:49.233 align:start position:10% line:74% size:77.5%
MANAGEMENT AND HAS EXPERTISE IN

00:44.233 --> 00:51.233 align:start position:10% line:74% size:75%
COMPUTER SCIENCE AND ECONOMICS

00:45.633 --> 00:53.900 align:start position:10% line:74% size:75%
AND RECENTLY WROTE A COLUMN ON

00:49.233 --> 00:54.500 align:start position:10% line:74% size:72.5%
BITCOIN FOR FORTUNE MAGAZINE.

00:51.233 --> 00:57.166 align:start position:10% line:74% size:75%
AND SARIT MARKOVICH WELCOME TO

00:53.900 --> 00:57.600 align:start position:10% line:74% size:45%
"CHICAGO TONIGHT."

00:54.500 --> 00:59.900 align:start position:10% line:74% size:80%
WE HAVE DONE SEVERAL SEGMENTS ON

00:57.166 --> 01:01.766 align:start position:10% line:74% size:20%
BITCOIN.

00:57.600 --> 01:03.766 align:start position:10% line:74% size:77.5%
AND IT'S ALWAYS IMPORTANT AGAIN

00:59.900 --> 01:06.566 align:start position:10% line:74% size:65%
TO EMPHASIZE OR CLARIFY OR

01:01.766 --> 01:08.633 align:start position:10% line:74% size:75%
ATTEMPT TO CLARIFY WHAT IT IS.

01:03.766 --> 01:11.066 align:start position:10% line:74% size:75%
BECAUSE IT SEEMS LIKE A I WILL

01:06.566 --> 01:14.000 align:start position:10% line:74% size:70%
LIEUSIVE CONCEPT FOR PEOPLE.

01:08.633 --> 01:17.566 align:start position:10% line:74% size:75%
>> OF I WILL ASK YOU AS I HAVE

01:11.066 --> 01:18.466 align:start position:10% line:74% size:72.5%
ASKED OTHERS WHAT IS BITCOIN?

01:14.000 --> 01:22.966 align:start position:10% line:74% size:60%
>> SO BITCOIN IS DIGITAL

01:17.566 --> 01:24.633 align:start position:10% line:74% size:22.5%
CURRENCY.

01:18.466 --> 01:26.400 align:start position:10% line:74% size:80%
AND IT USES CRYPTOGRAPHY TO MAKE

01:22.966 --> 01:30.166 align:start position:10% line:74% size:62.5%
IT SECURE SO WHEN YOU ARE

01:24.633 --> 01:31.933 align:start position:10% line:74% size:65%
THINKING ABOUT ANY KIND OF

01:26.400 --> 01:35.233 align:start position:10% line:74% size:70%
TRANSACTION WHETHER IT'S THE

01:30.166 --> 01:36.800 align:start position:10% line:74% size:75%
MOVING OF ONE BITCOIN FROM ONE

01:31.933 --> 01:38.033 align:start position:10% line:74% size:75%
PERSON TO THE OTHER OR REQUEST

01:35.233 --> 01:40.233 align:start position:10% line:74% size:70%
DIFFERENT EXCHANGES THEN YOU

01:36.800 --> 01:42.766 align:start position:10% line:74% size:77.5%
WANT THIS TO BE SECURE AND THIS

01:38.033 --> 01:49.800 align:start position:10% line:74% size:65%
IS WHAT YOU USE THE CRUISE

01:40.233 --> 01:52.933 align:start position:10% line:74% size:60%
SHIPPING TOFY FOR CRUISE

01:42.766 --> 01:55.233 align:start position:10% line:74% size:62.5%
SHIPPING TO CRYPTOGRAPHY.

01:49.800 --> 01:59.666 align:start position:10% line:74% size:80%
>> AND BLOCK CHAIN IT IS WHAT IS

01:52.933 --> 02:06.233 align:start position:10% line:74% size:77.5%
CALLED IT IS DISTRIBUTED LEDGER

01:55.233 --> 02:07.333 align:start position:10% line:74% size:72.5%
BUT WHAT IT MEANS IS THAT THE

01:59.666 --> 02:12.566 align:start position:10% line:74% size:62.5%
IDEA BEHIND BITCOIN IS TO

02:06.233 --> 02:15.800 align:start position:10% line:74% size:70%
DEMOCRATIZE THE CURRENCY AND

02:07.333 --> 02:17.733 align:start position:10% line:74% size:80%
MAKE SURE THAT OR REALLY TAKE IT

02:12.566 --> 02:19.966 align:start position:10% line:74% size:72.5%
OUT OF THE BANKS' CONTROL AND

02:15.800 --> 02:24.700 align:start position:10% line:74% size:65%
HAVE PEOPLE THE ABILITY TO

02:17.733 --> 02:27.133 align:start position:10% line:74% size:80%
TRANSFER MONEY THAT IS NOT CASH.

02:19.966 --> 02:29.000 align:start position:10% line:74% size:80%
>> SO IT IS AN ATTEMPT TO PUT AN

02:24.700 --> 02:31.566 align:start position:10% line:74% size:77.5%
EGALITARIAN KIND OF AN ATTITUDE

02:27.133 --> 02:33.933 align:start position:10% line:74% size:75%
TOWARDS CURRENCY IN A WAY THAT

02:29.000 --> 02:35.600 align:start position:10% line:74% size:80%
PERHAPS WITH THE INTERVENTION OF

02:31.566 --> 02:36.966 align:start position:10% line:74% size:77.5%
NATIONAL BANKS AND THAT SORT OF

02:33.933 --> 02:39.300 align:start position:10% line:74% size:55%
THING MIGHT NOT EXIST.

02:35.600 --> 02:41.666 align:start position:10% line:74% size:47.5%
LET'S BACKUP A BIT.

02:36.966 --> 02:44.666 align:start position:10% line:74% size:70%
SAY I WANT TO BUY A BITCOIN.

02:39.300 --> 02:47.100 align:start position:10% line:74% size:57.5%
HOW DO I BUY A BITCOIN?

02:41.666 --> 02:49.066 align:start position:10% line:74% size:80%
>> THERE ARE MANY EXCHANGES THAT

02:44.666 --> 02:51.566 align:start position:10% line:74% size:62.5%
ALLOW YOU TO BUY BITCOIN.

02:47.100 --> 02:53.333 align:start position:10% line:74% size:80%
YOU ARE GOING TO USE DOLLARS AND

02:49.066 --> 02:56.500 align:start position:10% line:74% size:60%
YOU ARE GOING TO PAY FOR

02:51.566 --> 02:58.866 align:start position:10% line:74% size:55%
BITCOINS WITH DOLLARS.

02:53.333 --> 03:01.233 align:start position:10% line:74% size:72.5%
THERE ARE NOWADAYS EVEN ATM'S

02:56.500 --> 03:02.166 align:start position:10% line:74% size:80%
WHERE YOU GO AND USE IN ORDER TO

02:58.866 --> 03:03.800 align:start position:10% line:74% size:32.5%
BUY BITCOINS.

03:01.233 --> 03:05.333 align:start position:10% line:74% size:37.5%
SO THERE ARE --

03:02.166 --> 03:07.233 align:start position:10% line:74% size:80%
IN THIS RESPECT THIS IS GOING TO

03:03.800 --> 03:10.200 align:start position:10% line:74% size:62.5%
BE RELATIVELY EASY TO DO.

03:05.333 --> 03:11.966 align:start position:10% line:74% size:77.5%
>> WHEN YOU BUY ONE, WHO DO YOU

03:07.233 --> 03:13.766 align:start position:10% line:74% size:47.5%
SEND YOUR MONEY TO?

03:10.200 --> 03:17.166 align:start position:10% line:74% size:80%
>> SO AGAIN THEY ARE GOING TO BE

03:11.966 --> 03:18.933 align:start position:10% line:74% size:72.5%
EXCHANGES LIKE WHEN YOU GO TO

03:13.766 --> 03:20.866 align:start position:10% line:74% size:77.5%
BUY A STOCK THEN THERE IS GOING

03:17.166 --> 03:23.000 align:start position:10% line:74% size:45%
TO BE AN EXCHANGE.

03:18.933 --> 03:25.366 align:start position:10% line:74% size:80%
THERE ARE EXCHANGES THAT YOU CAN

03:20.866 --> 03:28.033 align:start position:10% line:74% size:80%
GO ON-LINE AND THERE IS GOING TO

03:23.000 --> 03:28.866 align:start position:10% line:74% size:37.5%
BE AN EXCHANGE.

03:25.366 --> 03:31.233 align:start position:10% line:74% size:80%
THAT YOU CAN USE IN ORDER TO BUY

03:28.033 --> 03:33.533 align:start position:10% line:74% size:25%
A BITCOIN.

03:28.866 --> 03:34.966 align:start position:10% line:74% size:80%
>> FOR EXAMPLE, BOTH THE CHICAGO

03:31.233 --> 03:36.766 align:start position:10% line:74% size:75%
BOARD OPTIONS EXCHANGE AND THE

03:33.533 --> 03:37.133 align:start position:10% line:74% size:72.5%
CME GROUP YOU WILL BE ABLE TO

03:34.966 --> 03:38.066 align:start position:10% line:74% size:50%
BUY IT THROUGH THEM?

03:36.766 --> 03:40.800 align:start position:10% line:74% size:15%
>> NO.

03:37.133 --> 03:43.533 align:start position:10% line:74% size:35%
THE CHICAGO --

03:38.066 --> 03:45.066 align:start position:10% line:74% size:70%
BOTH EXCHANGES WHAT THEY ARE

03:40.800 --> 03:47.900 align:start position:10% line:74% size:75%
TRYING TO DO THEY WANT TO HAVE

03:43.533 --> 03:50.966 align:start position:10% line:74% size:47.5%
FUTURES ON BITCOIN.

03:45.066 --> 03:52.533 align:start position:10% line:74% size:75%
SO WHAT THEY ARE LOOKING AT IS

03:47.900 --> 03:53.300 align:start position:10% line:74% size:75%
MORE IT'S I WANT TO BET ON THE

03:50.966 --> 03:55.633 align:start position:10% line:74% size:80%
FLUCTUATION I WILL BE ABLE TO DO

03:52.533 --> 03:56.000 align:start position:10% line:74% size:12.5%
THAT.

03:53.300 --> 03:57.233 align:start position:10% line:74% size:72.5%
>> SO SAY YOU MANAGE TO BUY A

03:55.633 --> 04:03.200 align:start position:10% line:74% size:20%
BITCOIN.

03:56.000 --> 04:03.533 align:start position:10% line:74% size:50%
HOW DO YOU SPEND IT?

03:57.233 --> 04:05.800 align:start position:10% line:74% size:77.5%
RIGHT NOW IT'S SUPPOSEDLY WORTH

04:03.200 --> 04:07.633 align:start position:10% line:74% size:17.5%
$13300.

04:03.533 --> 04:10.133 align:start position:10% line:74% size:77.5%
>> HOW DO YOU SPEND THAT MONEY?

04:05.800 --> 04:13.900 align:start position:10% line:74% size:80%
>> THERE ARE DEFINITELY WEBSITES

04:07.633 --> 04:15.700 align:start position:10% line:74% size:70%
WHERE YOU CAN BUY BITCOIN OR

04:10.133 --> 04:17.400 align:start position:10% line:74% size:70%
SORRY WHERE YOU CAN USE YOUR

04:13.900 --> 04:21.066 align:start position:10% line:74% size:22.5%
BITCOINS.

04:15.700 --> 04:24.566 align:start position:10% line:74% size:75%
OVERSTOCK.COM FOR EXAMPLE IS A

04:17.400 --> 04:25.966 align:start position:10% line:74% size:80%
BIG STORE THAT ACCEPTS BITCOINS.

04:21.066 --> 04:28.700 align:start position:10% line:74% size:77.5%
THE BIKE STORE NEXT TO MY HOUSE

04:24.566 --> 04:31.800 align:start position:10% line:74% size:42.5%
ACCEPTS BITCOINS.

04:25.966 --> 04:33.100 align:start position:10% line:74% size:75%
SO THERE ARE PLACES IT IS TRUE

04:28.700 --> 04:34.733 align:start position:10% line:74% size:77.5%
THAT STILL IT IS HAS A LONG WAY

04:31.800 --> 04:37.233 align:start position:10% line:74% size:15%
TO GO.

04:33.100 --> 04:40.100 align:start position:10% line:74% size:80%
BUT THERE ARE DEFINITELY OPTIONS

04:34.733 --> 04:41.233 align:start position:10% line:74% size:72.5%
FOR YOU TO USE YOUR BITCOINS.

04:37.233 --> 04:42.166 align:start position:10% line:74% size:77.5%
THOUGH MOST PEOPLE USE IT IN AS

04:40.100 --> 04:44.466 align:start position:10% line:74% size:47.5%
AN INVESTMENT TOOL.

04:41.233 --> 04:46.133 align:start position:10% line:74% size:22.5%
>> I SEE.

04:42.166 --> 04:48.933 align:start position:10% line:74% size:65%
AS OPPOSED TO A DAY-TO-DAY

04:44.466 --> 04:49.266 align:start position:10% line:74% size:75%
CURRENCY, YOU ARE NOT GOING TO

04:46.133 --> 04:50.766 align:start position:10% line:74% size:72.5%
BUY YOUR MORNING LATTE WITH A

04:48.933 --> 04:52.166 align:start position:10% line:74% size:20%
BITCOIN.

04:49.266 --> 04:54.300 align:start position:10% line:74% size:52.5%
HOW ARE THEY CREATED?

04:50.766 --> 04:56.733 align:start position:10% line:74% size:75%
MY UNDERSTANDING IS THERE IS A

04:52.166 --> 04:59.566 align:start position:10% line:74% size:77.5%
LIMITED NUMBER OF BITCOINS THAT

04:54.300 --> 05:00.066 align:start position:10% line:74% size:72.5%
WILL EVER EXIST AND SOMEWHERE

04:56.733 --> 05:03.633 align:start position:10% line:74% size:80%
AROUND 21 MILLION IS THAT RIGHT?

04:59.566 --> 05:06.233 align:start position:10% line:74% size:22.5%
>> RIGHT.

05:00.066 --> 05:08.066 align:start position:10% line:74% size:72.5%
AND THE IDEA WAS YES, TO MAKE

05:03.633 --> 05:08.933 align:start position:10% line:74% size:67.5%
SURE THAT WE'RE CAPPING THE

05:06.233 --> 05:11.800 align:start position:10% line:74% size:80%
NUMBER OF BITCOINS THAT ARE EVER

05:08.066 --> 05:13.566 align:start position:10% line:74% size:37.5%
GOING TO EXIST.

05:08.933 --> 05:13.866 align:start position:10% line:74% size:80%
AND THAT IS GOING TO REALLY MAKE

05:11.800 --> 05:16.066 align:start position:10% line:74% size:72.5%
SURE THAT WE'RE KEEPING THEIR

05:13.566 --> 05:17.766 align:start position:10% line:74% size:15%
VALUE.

05:13.866 --> 05:19.566 align:start position:10% line:74% size:80%
BECAUSE IF YOU KNOW THAT YOU CAN

05:16.066 --> 05:21.633 align:start position:10% line:74% size:67.5%
KEEP PRINTING MONEY ALL THE

05:17.766 --> 05:23.300 align:start position:10% line:74% size:70%
TIME, OBVIOUSLY THE VALUE OF

05:19.566 --> 05:25.300 align:start position:10% line:74% size:70%
EACH UNIT IS NOT GOING TO BE

05:21.633 --> 05:26.933 align:start position:10% line:74% size:50%
ABLE TO REMAIN HIGH.

05:23.300 --> 05:27.900 align:start position:10% line:74% size:80%
SO THERE'S GOING TO BE A LIMITED

05:25.300 --> 05:30.700 align:start position:10% line:74% size:67.5%
NUMBER OF BITCOINS THAT ARE

05:26.933 --> 05:32.833 align:start position:10% line:74% size:50%
GOING TO BE PRINTED.

05:27.900 --> 05:34.866 align:start position:10% line:74% size:80%
AND RIGHT NOW, AS I SAID BEFORE,

05:30.700 --> 05:36.633 align:start position:10% line:74% size:50%
WE DON'T HAVE BANKS.

05:32.833 --> 05:38.633 align:start position:10% line:74% size:67.5%
IF YOU DON'T HAVE BANKS THE

05:34.866 --> 05:41.933 align:start position:10% line:74% size:67.5%
QUESTION IS ONCE THERE IS A

05:36.633 --> 05:43.466 align:start position:10% line:74% size:80%
TRANSACTION HOW DO YOU KNOW THAT

05:38.633 --> 05:45.033 align:start position:10% line:74% size:80%
THIS IS LEGITIMIZED TRANSACTION?

05:41.933 --> 05:46.033 align:start position:10% line:74% size:32.5%
AND HOW DO --

05:43.466 --> 05:48.366 align:start position:10% line:74% size:45%
WHO AUTHORIZES IT?

05:45.033 --> 05:50.566 align:start position:10% line:74% size:72.5%
AND YOU HAVE THOSE PEOPLE WHO

05:46.033 --> 05:53.166 align:start position:10% line:74% size:77.5%
ARE CALLED MINORS AND WHAT THEY

05:48.366 --> 05:54.500 align:start position:10% line:74% size:57.5%
DO IS THEY TAKE ALL THE

05:50.566 --> 05:58.700 align:start position:10% line:74% size:77.5%
TRANSACTIONS ALL OF THE BITCOIN

05:53.166 --> 05:59.333 align:start position:10% line:74% size:77.5%
TRANSACTIONS AND THEY AUTHORIZE

05:54.500 --> 06:02.933 align:start position:10% line:74% size:77.5%
THEM AND THEY COLLECT THEM INTO

05:58.700 --> 06:05.100 align:start position:10% line:74% size:20%
A BLOCK.

05:59.333 --> 06:08.033 align:start position:10% line:74% size:75%
AND THEN THEY SAY OK HERE IS A

06:02.933 --> 06:09.633 align:start position:10% line:74% size:72.5%
BUNCH OF TRANSACTIONS THAT WE

06:05.100 --> 06:11.133 align:start position:10% line:74% size:77.5%
ALL AGREED HAPPENED AND ALL ARE

06:08.033 --> 06:14.366 align:start position:10% line:74% size:77.5%
LEGITIMIZED AND WE ARE GOING TO

06:09.633 --> 06:16.033 align:start position:10% line:74% size:70%
ADD THEM TO THE BLOCK CHAIN.

06:11.133 --> 06:17.366 align:start position:10% line:74% size:65%
>> THE ONES WHO LEGITIMIZE

06:14.366 --> 06:18.766 align:start position:10% line:74% size:15%
BUT --

06:16.033 --> 06:20.933 align:start position:10% line:74% size:32.5%
>> AUTHORIZE.

06:17.366 --> 06:21.233 align:start position:10% line:74% size:75%
>> DID YOU FINISH ANSWERING MY

06:18.766 --> 06:22.866 align:start position:10% line:74% size:75%
QUESTION ABOUT WHERE THE MONEY

06:20.933 --> 06:25.300 align:start position:10% line:74% size:12.5%
GOES?

06:21.233 --> 06:26.866 align:start position:10% line:74% size:60%
>> WHERE THE MONEY GOES?

06:22.866 --> 06:28.766 align:start position:10% line:74% size:75%
>> IF YOU BUY YOUR BITCOIN WHO

06:25.300 --> 06:30.100 align:start position:10% line:74% size:72.5%
GETS THE $13,000 THAT I WOULD

06:26.866 --> 06:31.666 align:start position:10% line:74% size:65%
HAVE TO PAY TODAY TO GET A

06:28.766 --> 06:34.166 align:start position:10% line:74% size:20%
BITCOIN?

06:30.100 --> 06:36.166 align:start position:10% line:74% size:77.5%
>> SO THE EXCHANGE THAT YOU ARE

06:31.666 --> 06:38.300 align:start position:10% line:74% size:72.5%
GOING TO USE IS GOING TO TAKE

06:34.166 --> 06:38.966 align:start position:10% line:74% size:72.5%
THIS 13,000 AND THEN THEY ARE

06:36.166 --> 06:40.933 align:start position:10% line:74% size:75%
GOING TO GIVE YOU A BITCOIN IN

06:38.300 --> 06:42.866 align:start position:10% line:74% size:22.5%
EXCHANGE.

06:38.966 --> 06:44.033 align:start position:10% line:74% size:77.5%
NOW, A GOOD QUESTION IS WHAT AM

06:40.933 --> 06:46.533 align:start position:10% line:74% size:77.5%
I GOING TO DO HOW AM I GOING TO

06:42.866 --> 06:49.000 align:start position:10% line:74% size:42.5%
KEEP HIS BITCOIN?

06:44.033 --> 06:50.300 align:start position:10% line:74% size:77.5%
AM I GOING TO JUST HAVE A PIECE

06:46.533 --> 06:51.666 align:start position:10% line:74% size:72.5%
OF PAPER SAYING THAT I HAVE A

06:49.000 --> 06:52.733 align:start position:10% line:74% size:20%
BITCOIN?

06:50.300 --> 06:54.266 align:start position:10% line:74% size:47.5%
>> WHAT DO YOU GET?

06:51.666 --> 06:55.333 align:start position:10% line:74% size:35%
A CERTIFICATE?

06:52.733 --> 06:58.000 align:start position:10% line:74% size:77.5%
>> THERE ARE DIFFERENT WAYS FOR

06:54.266 --> 06:58.333 align:start position:10% line:74% size:72.5%
YOU TO GO DIFFERENT COMPANIES

06:55.333 --> 07:02.266 align:start position:10% line:74% size:80%
THAT HAVE WHAT THEY CALL BITCOIN

06:58.000 --> 07:03.933 align:start position:10% line:74% size:20%
WALLETS.

06:58.333 --> 07:05.500 align:start position:10% line:74% size:75%
AND YOU CAN USE THIS WALLET IN

07:02.266 --> 07:08.100 align:start position:10% line:74% size:72.5%
ORDER TO OLD ALL THE BITCOINS

07:03.933 --> 07:09.466 align:start position:10% line:74% size:75%
THAT YOU'VE BOUGHT AND USE THE

07:05.500 --> 07:10.300 align:start position:10% line:74% size:65%
WALLET IN ORDER TO PAY THE

07:08.100 --> 07:12.966 align:start position:10% line:74% size:77.5%
DIFFERENT STORES WHERE YOU WANT

07:09.466 --> 07:16.100 align:start position:10% line:74% size:30%
TO SPEND IT.

07:10.300 --> 07:18.066 align:start position:10% line:74% size:62.5%
OR IF YOU WANT TO GO TO A

07:12.966 --> 07:19.833 align:start position:10% line:74% size:77.5%
DIFFERENT EXCHANGE YOU CAN THEN

07:16.100 --> 07:22.533 align:start position:10% line:74% size:80%
TAKE THIS MONEY FROM YOUR WALLET

07:18.066 --> 07:22.900 align:start position:10% line:74% size:80%
OR THE BITCOINS FROM YOUR WALLET

07:19.833 --> 07:24.733 align:start position:10% line:74% size:60%
AND PUT THEM BACK IN THE

07:22.533 --> 07:27.600 align:start position:10% line:74% size:22.5%
EXCHANGE.

07:22.900 --> 07:28.966 align:start position:10% line:74% size:72.5%
>> IT HAS THE POTENTIAL FOR A

07:24.733 --> 07:30.366 align:start position:10% line:74% size:75%
LOT OF UNFETTERED FLUIDITY YET

07:27.600 --> 07:32.666 align:start position:10% line:74% size:60%
THERE ARE DISADVANTAGES,

07:28.966 --> 07:33.066 align:start position:10% line:74% size:62.5%
CRIMINALS CAN USE THIS TO

07:30.366 --> 07:39.233 align:start position:10% line:74% size:60%
LAUNDER MONEY RIGHT NOW?

07:32.666 --> 07:41.733 align:start position:10% line:74% size:17.5%
>> YES.

07:33.066 --> 07:42.900 align:start position:10% line:74% size:67.5%
SO ONE OF THE ADVANTAGES OR

07:39.233 --> 07:44.200 align:start position:10% line:74% size:80%
DISADVANTAGES OF BITCOIN AND THE

07:41.733 --> 07:46.466 align:start position:10% line:74% size:75%
BLOCK CHAIN TECHNOLOGY IS THAT

07:42.900 --> 07:48.200 align:start position:10% line:74% size:60%
EVERYTHING IS ANONYMOUS.

07:44.200 --> 07:50.933 align:start position:10% line:74% size:75%
AND THAT MEANS THAT YOU DO NOT

07:46.466 --> 07:52.600 align:start position:10% line:74% size:80%
NEED ANY IDENTIFICATION IN ORDER

07:48.200 --> 07:55.666 align:start position:10% line:74% size:67.5%
TO BUY OR SPEND THIS MONEY.

07:50.933 --> 07:57.966 align:start position:10% line:74% size:72.5%
AND THEREFORE THAT MEANS THAT

07:52.600 --> 08:02.266 align:start position:10% line:74% size:57.5%
YES IT IS VERY EASY FOR

07:55.666 --> 08:03.533 align:start position:10% line:74% size:70%
CRIMINALS TO USE BITCOINS IN

07:57.966 --> 08:06.466 align:start position:10% line:74% size:77.5%
ORDER TO TRANSFER MONEY AND BUY

08:02.266 --> 08:09.033 align:start position:10% line:74% size:55%
WHATEVER THEY WANT TO.

08:03.533 --> 08:13.233 align:start position:10% line:74% size:75%
AND THIS IS WHY WHEN YOU THINK

08:06.466 --> 08:13.566 align:start position:10% line:74% size:75%
ABOUT THE CME FOR EXAMPLE THAT

08:09.033 --> 08:15.333 align:start position:10% line:74% size:72.5%
THEY ARE TRYING TO LEGITIMIZE

08:13.233 --> 08:17.733 align:start position:10% line:74% size:20%
BITCOIN.

08:13.566 --> 08:20.033 align:start position:10% line:74% size:75%
ONE OF THE THINGS THEY WANT TO

08:15.333 --> 08:22.533 align:start position:10% line:74% size:80%
SEE EXCHANGES DO FOR EXAMPLE, IS

08:17.733 --> 08:23.933 align:start position:10% line:74% size:72.5%
TO MAKE SURE THAT IF THEY SEE

08:20.033 --> 08:25.500 align:start position:10% line:74% size:75%
THOSE LARGE TRANSACTIONS, THEY

08:22.533 --> 08:28.200 align:start position:10% line:74% size:80%
ARE GOING TO BE THE ONES WHO ARE

08:23.933 --> 08:29.700 align:start position:10% line:74% size:75%
GOING TO CHECK AND SEE WHO ARE

08:25.500 --> 08:32.466 align:start position:10% line:74% size:67.5%
THE ONES MAKING THOSE LARGE

08:28.200 --> 08:32.966 align:start position:10% line:74% size:75%
TRANSACTIONS AND MAKE SURE YES

08:29.700 --> 08:35.300 align:start position:10% line:74% size:67.5%
INDEED THIS IS NOT USED FOR

08:32.466 --> 08:37.566 align:start position:10% line:74% size:42.5%
MONEY-LAUNDERING.

08:32.966 --> 08:37.900 align:start position:10% line:74% size:70%
>> AND THE VALUE HAS GONE UP

08:35.300 --> 08:38.666 align:start position:10% line:74% size:62.5%
1100% THIS YEAR S THERE A

08:37.566 --> 08:40.666 align:start position:10% line:74% size:17.5%
BUBBLE?

08:37.900 --> 08:42.400 align:start position:10% line:74% size:27.5%
IS IT REAL?

08:38.666 --> 08:43.600 align:start position:10% line:74% size:70%
>> SO IT IS A GOOD QUESTION.

08:40.666 --> 08:48.266 align:start position:10% line:74% size:75%
AND SOME BELIEVE THERE IS SOME

08:42.400 --> 08:51.133 align:start position:10% line:74% size:52.5%
BELIEVE THERE IS NOT.

08:43.600 --> 08:55.300 align:start position:10% line:74% size:60%
AND I BELIEVE THAT IT IS

08:48.266 --> 08:55.600 align:start position:10% line:74% size:80%
PROBABLY OVERVALUED AND THERE IS

08:51.133 --> 08:57.333 align:start position:10% line:74% size:65%
GOING TO BE A DROP AT SOME

08:55.300 --> 08:58.900 align:start position:10% line:74% size:15%
POINT.

08:55.600 --> 09:01.633 align:start position:10% line:74% size:77.5%
BUT THERE ARE MANY THAT BELIEVE

08:57.333 --> 09:05.700 align:start position:10% line:74% size:70%
THAT IT IS ACTUALLY GOING TO

08:58.900 --> 09:08.433 align:start position:10% line:74% size:72.5%
KEEP ON GOING UP BECAUSE THEY

09:01.633 --> 09:11.700 align:start position:10% line:74% size:70%
BELIEVE THAT THIS CAN BECOME

09:05.700 --> 09:13.666 align:start position:10% line:74% size:77.5%
REALLY A AN INVESTMENT TOOL FOR

09:08.433 --> 09:15.833 align:start position:10% line:74% size:75%
PEOPLE TO USE IN THE FUTURE TO

09:11.700 --> 09:17.400 align:start position:10% line:74% size:67.5%
HOLD THEIR MONEY INSTEAD OF

09:13.666 --> 09:18.966 align:start position:10% line:74% size:75%
INVESTING IN FOR EXAMPLE, GOLD

09:15.833 --> 09:20.633 align:start position:10% line:74% size:25%
AND SO ON.

09:17.400 --> 09:22.200 align:start position:10% line:74% size:75%
>> QUICKLY HOW DO YOU GET YOUR

09:18.966 --> 09:24.133 align:start position:10% line:74% size:52.5%
MONEY OUT OF BITCOIN?

09:20.633 --> 09:24.433 align:start position:10% line:74% size:75%
SAY YOU HAVE SEEN IT GO UP AND

09:22.200 --> 09:25.700 align:start position:10% line:74% size:70%
THAT IS GOOD I WANT MY MONEY

09:24.133 --> 09:27.166 align:start position:10% line:74% size:12.5%
BACK.

09:24.433 --> 09:29.533 align:start position:10% line:74% size:47.5%
HOW DO YOU DO THAT?

09:25.700 --> 09:31.500 align:start position:10% line:74% size:72.5%
>> YOU HAVE THE EXCHANGES AND

09:27.166 --> 09:34.466 align:start position:10% line:74% size:77.5%
THE EXCHANGES ARE BEING USED TO

09:29.533 --> 09:37.800 align:start position:10% line:74% size:52.5%
BUY OR SELL BITCOINS.

09:31.500 --> 09:39.466 align:start position:10% line:74% size:80%
AND YOU CAN JUST THE SAME WAY SO

09:34.466 --> 09:41.500 align:start position:10% line:74% size:65%
AFTER YOU PAY THE EXCHANGE

09:37.800 --> 09:41.833 align:start position:10% line:74% size:80%
$13,000 AND GOT YOUR BITCOIN AND

09:39.466 --> 09:43.833 align:start position:10% line:74% size:65%
YOU PUT IT IN YOUR DIGITAL

09:41.500 --> 09:45.633 align:start position:10% line:74% size:17.5%
WALLET.

09:41.833 --> 09:47.266 align:start position:10% line:74% size:72.5%
YOU CAN NOW TAKE YOUR DIGITAL

09:43.833 --> 09:48.700 align:start position:10% line:74% size:72.5%
WALLET AND GO TO ANY EXCHANGE

09:45.633 --> 09:50.766 align:start position:10% line:74% size:65%
AND SAY I WANT TO SELL IT.

09:47.266 --> 09:53.333 align:start position:10% line:74% size:77.5%
AND THERE'S GOING TO BE A PRICE

09:48.700 --> 09:54.700 align:start position:10% line:74% size:72.5%
THAT YOU ARE GOING TO GET FOR

09:50.766 --> 09:57.200 align:start position:10% line:74% size:32.5%
YOUR BITCOIN.

09:53.333 --> 09:58.700 align:start position:10% line:74% size:80%
>> SARIT MARKOVICH THANK YOU FOR