Notes

The particular rise of Bitcoin
The governing council determined the following: First You will continue to conduct net property purchases within the pandemic emergency purchase plan with an overall envelope of? a single, 800 billion, right up until at least typically the end of March 22 and any case until the regulating council judges that will the coronavirus crisis phase is over. Morning Joe, an individual have the European Central Bank performing what economists thought they were doing. They added in order to their pandemic urgent purchase fund by? 500 billion. By simply my count, of which takes it up to 1. 95 trillion total. It is an absolutely historic, in terms of typically the speed of GIVEN purchases not to mention, the magnitude. Here? t a chart that shows what? h happened since Walk, the last 3 weeks have noticed this huge slam up within a techniques that you? empieza never seen ahead of.

And let? h take a look at what? t changed here. since the FED final met, we got to be able to $1. 9 trillion in relief. put into law by Congress, signed by the president.. Senate Democrats have just released the text of these $3. your five trillion budget resolution.. Are you able to characterize almost everything that the GIVEN has done this past week. as essentially flooding the system with money?. Sure, exactly.. And there? s no ending to your capability to do that.. Generally there is no ending to our ability to do this.. Simply flooded the system along with money.. Yes, we did.. That? t another way in order to think it over.. We would.. Where does this come from, would you just print that?. We print this digitally.. So we, you understand, we since a central bank, we have the ability to create money digitally.. And we carry out that by buying treasury bills or binds. or other government guaranteed securities.

Plus that actually enhances the money supply. We all do believe that inflation numbers inside 21, which many of us will see rising. I can? to find any period in history where financial and financial policy have been this out regarding step using the monetary circumstances, not only one. Inside six weeks previous spring. We would more QE, extra purchasing of treasuries than we did the entire moment in a nine year period from 2009 to 2018. And if all of us ever get in to inflationary psychology, such as for instance, we did when I actually was in my personal twenties back throughout the seventies, in case we ever get that again. And if you ever acquired retail actually anxious about inflation, then the one thing that qualified prospects inflation, which will be commodity prices, it? s the simplest tautology there is, those techniques can literally scream double or three-way with no problem whatsoever.

And values for both fascination rates and stocks and shares are at,. in case you combine the two, they? re also so overvalued,. that they? re at one hundred year highs.. I actually don? t know very well what you do.. I actually is so scared of democracy. getting the proven fact that you may just print cash to solve all problems.. And eventually I am aware that may fail.. In the end, if you print a lot of, you end upwards in something similar to Venezuela.. It? s mathematics.. The fiat money is now the particular error term that will solves. the growth in the numerator, which in turn is your total global debt. versus the denominator, which can be total global GROSS DOMESTIC PRODUCT.. And we have got reached a spot regarding no return wherever the numerator. is going to outstrip the expansion in the denominator. under any plausible scenario, which means you need to be able to print money. in order to solve that personal debt spiral.. We? empieza all heard involving our economic periods and just how according in order to most modern economy books,.

It is usually normal to have got a period regarding extremely quick growth plus expansion, followed by simply a period regarding contraction and cost-effective crisis, as referred to in 1946 simply by Arthur F. Uses up, former counselor for the president of the United States, and even Wesley C. Mitchell, American economist. Company cycles are some sort of type of changing found in the particular aggregate economic exercise of nations. A cycle consists of expansions occurring in about the same time frame in many economic routines, followed by in the same way general recessions. This sequence of changes is recurrent, but not periodic. Historical past, though, shows us that prior to twentieth century, economic crisis showed up because of outside events.

The virtually all popular being conflict. There have been only one financial crisis not attributable to external events, in addition to this was typically the panic of 1825, where around 70 banks went broke due to risky purchases. Also because of this specific man, Gregor McGregor, that had pulled big investments directly into colonizing a rustic, that will didn? t exist Poyais. Whenever we look at history, exactly what turns out, precisely what we learn is the particular fact that this kind of cycle really started about 100 years ago, and there? s key point to be able to that. It? t the fact of which in the 12 months in 1914, just about every big nation in the world just starting leaving the rare metal standard.

Now, the particular gold standard is the fact that all of typically the money that a central bank has, settings or produces will be only based upon the level of yellow metal that they carry and the cost of gold. Therefore, the amount regarding money supply available is relative to the particular gold that is certainly kept. This was dropped. And this will be what led to a lot of auto financing for that first Planet War and even following the second World War, because governments realize that they have this particular huge power that will is, eliminate the precious metal standard and can easily just print funds as much because we want. And within fact, this took place many times of all time and was usually the reason why governments, countries or cultures were simply falling.

The Roman Disposition is a great example of that. As soon as all of us dropped this rare metal standard, so all-around the year involving 1914, the UNITED KINGDOM was your first region to do that. This is definitely the moment in which we started finding these short name and long name cycles, particularly the short term cycles. We are now over 100 years after leaving typically the gold standard, in fact it is a fairly accepted proven fact that our economic climate works in series, depending on a period of time of inflation, implemented by a time period of deflation. The particular fact this just started a century in the past should tell a person which our monetary method has flaws most while being typically the reason for the unmatched growth we had as a kinds within the 20th century. This inflation will be due to our reliance on personal debt and credit.

According to modern monetary principle, debt is typically the driver of monetary growth, not efficiency. Ray Dalio describes this well throughout his video Precisely how The Economic Device Works. Over moment we learn and that accumulated information raises our lifestyle standards, we contact this productivity expansion. Those who will be inventive and hard working raise their particular productivity and their living standards more quickly than those that are complacent and sluggish. But that isn? t necessarily correct over the short run. Productivity matters most in the long term, nevertheless credit matters the majority of in the short run. This is due to the fact productivity growth doesn? t fluctuate significantly, so it? t not a large driver of financial swings.

Debt is, because it allows all of us to consume over we produce once we acquire it, and even it forces us to consume lower than we produce once we have to pay it back. And since stated by Dylan LeClair in his great article The Conclusion from the Extended Term Debt Pattern and the Surge of Bitcoin. Though productivity is typically the most important element of any economic system over typically the long lasting, not efficiency nevertheless the forces of debt are the particular main driving forces in volatile monetary swings. Coming back to the particular cycles, Ray Dalio describes the long run and the short expression debt cycle and even how they relate to human output.

Debt swings result from two big cycles. One takes about five to 8-10 a number of the additional takes about seventy five to 100 yrs. While many people sense the swings, they will typically don? t see them since cycles since they notice them crowded way up. Day by time, week by week. The brief term debt pattern can be seen by looking in different metrics, including the debt to be able to income ratios and even interest rates set by the main bank. Yes, the particular central bank essentially sets the regulations that allow our economy to broaden into unreasonable personal debt and later chooses when it could break down. This is definitely the socalled increase and bust cycle.

The most recent ones being typically the global financial turmoil of 2008 and even the dot com bubble with the 12 months 2000. The long term financial debt cycle is constructed of several short term cycles. While our overall economy goes up plus down during every of these process, it does provide growth in the long run. Plus with each routine, our economy goes on accumulating debt consistently because we like borrowing than paying back debt. There extends to a moment there is more debt to spend than income. Traditionally, this is if the long expression debt cycle shifts, people stop shelling out and begin repaying financial debt. And in turn of developing, we go down. We see recessions, increase government support, devaluation of currencies, social unrest and so forth.

There comes the time when our economy has adequately deleveraged and the particular economy starts increasing again following the short term credit card debt cycle again. Over these deleveraging events, about three strategies are adopted by central banking companies. First Lower the particular interest rates. Attention rates are established by central banking institutions and they also set the particular rules in regards to what is the cost of credit money. If they lower it, then it? s cheaper to take out a loan. For that reason, people will be more keen to borrow this kind of money This leads to the particular spiral of simply wanting to borrow more and extra and more since it? s just simpler to borrow.

And at this time, if you appear at the amounts the central lender, central banks all over the entire world have been doing this specific for years right now because we work with a standard that will is mostly centered on the US ALL dollar. What concerns is what the U. S. central bank does, and if they lower rates of interest, then everyone otherwise will likely lower their very own rates of interest. This improves the value of property and makes that easier to find credits. This will be the first technique used. Today, these kinds of interest rates include already dropped significantly for the key economies and possess turned negative in many. If attention rates drop to be able to zero, then you cannot find any logical financial bonus to lend money.

It can proceed for a while until it doesn? t. Next There? s quantitative easing, also called as money printing. What this kind of guy was talking about, it allows typically the central bank to purchase debt securities in addition to financial assets. That places cash within the hands regarding investors but doesn? t help citizens, asset prices skyrocket, usually creating pumping, that makes asset holders that tend to be able to be the rich, richer and typically the poor, poorer since their savings drop value. This is actually the case today, with true estate skyrocketing throughout the world and other organic materials skyrocketing also. Third and final, is increased wellbeing spending or other instruments, for example government payments.

When there is virtually any kind of catastrophe, well the men and women that bought their particular house, they? lso are not going in order to try and go more financial plans and things of which will allow them to protect their investment because they simply don? t have the knowledge or the skills and also the instruments to be able in order to do that. So they? re the types that lose the particular most right mainly because investment banks think they know what? s coming, these people learn how to deal along with it plus they? lmost all get out associated with it. But this kind of creates basically some sort of gap between abundant and the weak. And this will be a lot due to money printing as this money gets allocated into the economy, nonetheless it doesn? t get distributed into the hands of people.

It will get paid to banking companies, it gets paid out to investors, also it just gives them another business. And it also gives them more money to be ready to take about more positions and themselves invest throughout to many various assets, whether this? s the stock exchange, it can end up being gold, anything. The particular poorer people add? t have these types of options and they also add? t get this money directly related to all of them. So it means that like, while all of this is happening and folks are receiving rich, other folks are getting poorer because the cost savings that they include in the lender are losing worth because of this kind of money printing and because of of which, what governments require to do is usually they need to be able to help their citizens more.

Because of study course, no one wants the wealth distance. I mean, this? s not mainly because you? re, a person know, part regarding this elite, permit? s say, that will is inside a better position financially, that will you want the poor visitors to get in a bad situation like everybody has to become increased in society plus these people will need being helped immediately through financing, no matter what form it can take. And in reality, if you appear at the numbers, it? s because the crisis of 1929, which was the first big economical crisis after moving away from the gold regular that I seemed to be mentioning at typically the beginning that this particular welfare spending has increased a whole lot. And even now in France, for example, there? s about thirty of GDP of which goes to welfare spending. France is quite famous intended for that. It provides one of the best medical systems, but it furthermore complements how an individual support people that are without a job.

Different stimulus payments help for house allowances and also this sort of thing, that is certainly, of course, great for people who want it, but is merely necessary because associated with these actions that are taken ahead of time. More recently, all of us know social investing has increased as a result of COVID crisis, so we can only assume that this chart right now looks more like this. We have been seeing another measure growing quickly the financial supply. Monetary supply is the complete amount of a single currency that is usually currently available throughout the economy. The more govt creates new funds, the more the present increases. This cash supply is straight correlated towards the accounting allowance of our values.

Many like in order to inverse these charts as a way to show this kind of devaluation.. Because the particular more a forex is produced, the particular less its scarce.. Therefore, the more this loses value.. Many of us have all read stories from our elders. saying, cash had a distinct value back then. and also have seen organize images illustrating this particular.. Similar to this McDonald? t menu from 72 that had a new Big Mac for $0. 65.. The increase in money supply is the particular reason why this happens.. In 2020 only, the money source has had a large jump.. This is actually the funds that was imprinted in order in order to finance the warfare against COVID.. In addition to in the Circumstance. S. since the particular beginning of 2020,. we certainly have seen a great increase of above 30% inside the amount of U. T. dollars in blood flow.. Although this isn? t felt instantly in the economic climate, the long term. effects will be felt by the people that have no allocation in property.

For instance real property, stocks and so on. The long term implications of the are very large. To illustrate, acquire technology by description, technology should decline in cost because this becomes better in addition to easier to produce. Yet, due to be able to inflation, prices will be not going down, basically making it more difficult to develop innovative technologies. Governments use many reasons, including environment change, as a good excuse to print trillions. But straight down the road, this particular printing can guide to adverse benefits because of the effects the brand new economic supply might have about the development of the right technologies of which could help all of us transition to a more renewable vitality consuming world.

Yet the central finance institutions will have a distinct message. It is throughout order to avoid the spread regarding panic regarding the economic markets and their values, which could direct people to rush to banks to be able to withdraw their money. This obviously would be unsustainable to the economy. A state in which trust within a currency is usually lost will observe recessions and can take decades to recuperate. Rather, central banks utilize the consumer price list, also called the CPI. The CPI is actually a flawed sign, yet is typically the most commonly approved indicator to calculate inflation and its effects on prices. The CPI employs the cost of a bag of goods that will be consumed by people.

This, in essence, will be the way the indicator like this particular one should function. But the CPI is flawed as a result of way this holder of products is selected. It will be selected based on exactly what people choose in order to buy. So every single year, new items may be added to this basket while others will get removed. But what they elect to purchase depends on typically the associated with the product. If inflation should go up, people will alter their basket of goods in order in order to accommodate for that selling price increase. This basically makes it a new basket of items. The CPI may not track the price of typically the previous basket involving products. It can track the price of the new basket of products after the client decision has been made according to price increases.

Saifedean Ammous illustrates this properly in the Fedex standard. Imagine an individual earn $10 per day and spend all on eating an excellant ribeye steak which gives you all the particular nutrients you need for the day. In this simple buyer basket of merchandise, the CPI is definitely $10. Now imagine one day hyperinflation strikes the overall economy, along with the price of your ribeye raises to $100 whilst your daily income remains $10. How it changes the price involving your basket regarding goods? It can not rise tenfold since you cannot afford the $100 ribeye As an alternative, you choose do along with the chemical shitstorm that is a soy burger intended for $10. The CPI magically shows no inflation.

Remember that governments will never display us the true inflation numbers, plus they will not necessarily attribute it towards the increase in the monetary supply mainly because of their managing. If people really understood this, they would never be reelected. We? ve brought up debt so much, it is time to look with these numbers, also. We can see the sharp rise with the global financial debt during just the most recent yrs. To add more context, here is definitely what this debt represents as share of global GDP. 356%. We have got 3. 5 times extra debt than actual created value. Nowadays, this debt real estate could be ended or at very least be slowed up when the central banks would be to increase interest rates, rendering it even more expensive to lend. Giving a breather to the entire program. Currently it? s i9000 likely too past due.

The U. T. central bank tried this in 2018 because they believe the economy seemed to obtain recovered through the global financial trouble of 2007. Ten years have got now passed since the depths of the particular economic crisis, an unpleasant part of our own history that price many Americans their own jobs, their homes and then for some, their particular hopes and dreams. In add-on to holding interest levels low to assist the recovery, many of us have also consumed many learning to make the financial system safer. I? m comfortable that the method today is tougher and in a far better position in order to support the financial needs of homes and businesses by means of good times and bad.

They determined to increase these types of interest rates, also because of that, typically the entire market lowered in the space of a partners of weeks, in addition to NASDAQ and the particular S&P 500 dropped over 20% in just a couple involving weeks. Only because typically the markets were reacting to these activities that had been done by simply the central bank. The DOW will be moving back in the direction of the lows of the day. All 30 DOW stocks are today in debt, and the particular DOW? s benefits for the year are gone, the distant memory. The S&P has decreased into correction. That? s a drop of 10% or perhaps more from recent highs. All groups and this is vital, are in the red at this moment, and the NASDAQ is today at a seven month low.

Glance at the CNN Business Concern and Greed Listing. I know you don? t would like to see it, we got to be able to give it in order to you. It measures volatility, momentum in addition to demand for secure havens. It? s pointing to extreme fear. So simply because soon as it started dropping, the middle bank came publicly and said, OK, we? re heading to stop this kind of. We? re planning to go back to normal level involving interest levels. And by that moment in, by the end, in 2019, they started again providing these interest rates and they decreased them from all the way up 2. 5% to 0. 25%, based on a lot regarding finance books plus what people study at university; typically the scenario we? re in today along with negative interest rates is impossible, right? So what happens in that case? It? s tough to say, no one really is aware of.

We? ll need to find out mainly because anyway, central banking companies have no some other option. The sole thing they could carry out is print even more money. In reality, the only thing that the key banks can do is produce additional money and deal with for this all personal debt that is by no means being paid again. They will work along with governments to carry on raising taxes, welfare investing and devaluating money. This isn? capital t to say why these people are unwell intended. They use the tools that are offered to them and even have simply achieved the point in which their backs happen to be up against the wall plus they? re pushed to abuse they. And they? re also trying to find solutions to take the entire economy out of this situation.

Even though these solutions are usually not necessarily in the best interests associated with citizens and their personal freedom. This isn? t without reason that the Entire world Economic Forums project is called the truly amazing Reset, the title that inspired this specific documentary. Part involving their plan is definitely the creation regarding central bank electronic currencies CBDCs. This will allow central banks to possess a new financial system that that they can detach in the current one, letting people to move into this fresh debt free system and slowly deleveraging and dropping the debt from the prior one without putting risk to their very own currencies.

So key bank digital forex is coming living. It? s never going to happen today. I do believe they have the twelve month treatment plan period that they can would like to go by way of before they really launch once and for all. Typically the status of computer is we? re working hard on it right this moment. But let us tell you what it is, really. We? re going to deal with digital payments extensively. So that means stablecoins, this means it signifies crypto assets, it means a CBDC. That whole selection of issues and transaction mechanisms, which good are really at a new critical point. Might you admit the corona crisis provides even revealed more the need in order to possess a digital key bank currency or perhaps currencies? Well, sure, I do believe the culminación crisis has expanded a lot technical transformation and use associated with digital innovations throughout the board.

I mean, it? h not only inside financial transactions, nevertheless in ecommerce plus the show business. I mean, there are so a lot of examples that, you know, bu yest, it is a new fact. Virtually almost all central banks are planning on this. In the particular last couple of weeks involving 2020, the People? s Bank of China rolled out a new pilot program in the eastern Chinese associated with Suzhou. They will had to download an app and even have it on the phone. In a macro way, you include a sense of how money flows throughout the economy. On a new micro scale, plus this is something that many on the western part of the country would probably not necessarily be comfortable with and many in The far east frankly, would certainly not be comfortable with is that it will allow authorities to end up being able to trail precisely how a person or my neighbors or maybe the person lower the street is definitely spending the cash on. They? re also spending the cash on buying items they shouldn? to be buying.

Whichever, however you specify that. Are they will gambling with their cash? Are they doing this or that using the money? They state it? s simply to replace actual cash, but of course, this specific could just end up being the 1st step. Adoption can come for people CBDC? s. Actually it will be pressured adoption. The government will start supporting citizens in require by only giving them stimulus payments via a wallet controlled straight by the key bank. The key bank will fundamentally be able to eliminate commercial banks that are usually currently the middleman between the main bank and the particular citizens. For government authorities, it will simplify many things.

In case they opt to change interest rates,. they are able to behave on it straight rather than hold out. the several months required for commercial banking companies. to implement this in their systems.. They will also manage to control directly. the eye rates based in a person? s account or possibly a business? t profile,. and will certainly be able in order to set expiry dates on people? t money,. forcing these people to spend in addition to not allowing them to save.. Raoul Pal describes this particular well.. You see, main banks want to be capable to offer people money directly.. Direct monetization.. They will can? t achieve that right now.. Best now, they produce money,. it goes into the savings system, the banking companies hoarde it. mainly because we? re under-going a credit crunch.. It? s furthermore an opportinity for them to be able to kickstart universal fundamental income. since the central bank can underpin.

The poorer parts of society by providing them money immediately. It doesn? capital t go on the particular government balance sheet. Right now, central banks today believe they? re omnipotent, that they will can continue to increase balance sheets permanently. MMT appears to be typically the prevalent thought, and this is just an extension of this specific. This is sort of Keynesianism gone crazy. Central banks can also change totally the structure associated with how money in addition to monetary policy performs and fiscal policy since they can offer it to be able to folks in different techniques. So they can certainly credit the restauranteur, but then penalize with negative interest levels. The Baby Boomer Saver because they want to launch their money again into our economy.

That they can give students a positive fascination rate to help these groups help save. They can modification everything. This is usually the rise associated with behavioral economics in addition to incentive systems. Therefore, governments essentially using big data can find who they need to stimulate at any kind of time and modify accordingly. They will carry out it dynamically. This is a structural, massive switch to everything we all understand about economics, particularly macroeconomics. No person? s prepared with this. None of people understand what this indicates. It means but it will surely be sold on lots of good things. And I believe there? s the lot of good stuff that come from this.

I do think this is an classy means to fix some associated with our problems. Yet elegant solutions inside governments and main banks lead to unintended consequences. The issue is below, is to possess this new method, you? re heading to give upward your freedom. A person are going to be able to have every purchase you? ve ever done and at any time can do recorded, There is no funds, there is no more way of showing the gardener until it goes by cash. It signifies that they can tax you from every transaction stage. Now that? t great. We may eliminate IRS plus all of the tax collection companies as it could get done directly. That will? s good. Nevertheless again, you? ve lost your freedom to transact inside of anonymity that funds gives you. These kinds of central bank digital currencies, as We said, they? re not, they? re not an invention from governments and banks.

In reality, they? re motivated by other electronic currencies like bitcoin being the first one. And other altcoins that have recently been created next. Found in reality, they? re more similar in order to other altcoins such as Ethereum or even others that simply allow the add-on of programing lets you add functionality for them, whereas bitcoin is merely there for these types of monetary transfers. Bitcoin is actually a payment system, right? Where this is think of it as some sort of log of dealings, a transaction that will I can perform for you. The Bitcoin network will consider some information. So my address, your own address, the number of bitcoin that I? m sending to a person. And with this information this? s going to create a hash.

It just should go through a simple hashing algorithm. which makes the particular code because of this details.. And this is definitely added to this particular log.. Whatever quantities that happen. within these ten moments, it basically is considered an obstruct. and there will certainly be miners, therefore, computers, which might be connected. to the community to verify these kinds of transactions.. So these people? re just planning to be presently there really to verify. that I do include this bitcoin, and even yes, I could send out it to you personally.. Plus then after of which,. I no lengthier have this bitcoin and you have got the bitcoin.. Consequently very simple sort of work.. But many of these computers are coupled to the network. and that they? re in opposition fighting for who else confirms the obstruct. because whoever agrees with the block and verifies these transactions. is going to be rewarded found in bitcoin. from a couple of sources,. There will be a transaction cost;.

Simply, if I send your bitcoin, then I spend some fee, to the network, this specific fee will probably be redistributed to miners. In addition to also, right right now there is definitely a release of new bitcoin. Today it? s i9000 at 6. twenty-five bitcoins per obstruct. And if We like a miner, I actually? m able to confirm this prevent, I will receive 6. 25 bitcoins. It won? t happen every moment as there is a big competition of miners. 6. 25 bitcoin per block every ten minutes. That will? s quite a lot, especially if you think of the price tag on bitcoin today. Bitcoin is definitely built in the way it has a total incentive scheme that will has been considered out from the creator of bitcoin that goes all the particular way to the entire year 2140 or and so, that is that the particular amount of bitcoins that are developed will be separated every four decades by two.

When I? m a new miner today, I actually make 6. 25 bitcoin per stop that I verify; four years through now after the particular next halving, it? ll be half that so , 3. 12 bitcoin. This kind of is an incentive for individuals to always be as efficient since possible when running their bitcoin mining business, and likewise an incentive for typically the price to stay above a certain level. Because miners basically will either be used up of business in case the price is too low or may decide to never promote bitcoin because he? s not covering with regard to his operating costs. In the bitcoin protocol, changes may be made in two ways. There? h a simple approach known as hard shell, where someone essentially makes a copy regarding bitcoin, makes alterations to the protocol and releases that to the world.

Miners need in order to connect with this fresh network and pick to use this particular new network above the original Bitcoin network. This has been created by projects such as Bitcoin Cash and Bitcoin Satoshi Vision. Which were trying to solve the actual founders thought to be problems inside of the bitcoin community. But there was basically a scaling endeavor to allow bitcoin to continue to become money for the world. And it was called the SegWit2x agreement, where SegWit, which is in the event you? re deep directly into crypto, you previously know what of which is, if not necessarily, don? t be concerned about it. Plus the block sizing were going to be upgraded coming from one megabyte to 2 megabytes, which would certainly, if you do both those things you? re also going to get more than double as numerous transactions available on the Bitcoin system.

Should you choose just typically the 1 megabyte to 2 megabyte, a person double. At SegWit t? s a new little bit more on top associated with that anyhow. For whatever reason, the SegWit portion involving that agreement has been activated first. If that 2 terme conseillé upgrade eventually seemed to be aborted, I had fashioned to be able to look around the world and say, OK, well, in case I want a tool that can enable every human being being on the planet to deliver and receive virtually any amount of funds with any additional human being on the planet, bitcoin can? capital t do that. It? s not planning to do that will with one terme conseillé blocks. It? t impossible for bitcoin to do that. So right now there? s a whole bunch of additional cryptocurrencies out presently there.
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