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The Bitcoin Standard

7 717 views | 20 Nov. 2020

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Tizbax

MASTERPIECE !

Arif Billah

Brilliant!

TheWakerLion

?????

Raúl del Río

EPIC

DeeJRichmindset

BTC to the moon! ??

Marcel G.

Will Bitcoin still exist in 10, 100 or 1000 years? Definitely gold.

WisCAT Bijles

Amazing! Bought more!

Dylaaaan

This is perfect

Andrei Stroescu

brilliant!

Miguel A. Rivera S.

?

Lars Eisenberg

Absolutely brilliant! Awesome! ?

Acdc_Hornet

Share in FR discord since 2 days ;) ! May the force be with you

FUJI

Lol

Marco Gonzo

?????

CryptoSpace News

Subscribed and Bell (insta)

Weston Nelson

Lol - great stuff here. #bitcoin

akirakurosawa

Brilliant

Garrett Hoyos

This is just the best

hhatton93

Oh shit lmaooo

Jeffrey Lee

Love it!

Paul Rec

Yup, indeed, all the yup!

The Fellowship of Bitcoin

Look At Me Now. I Am The Great Reset.

RICARDO T

Ahahaha

T Oak

Dumb

manuel pimienta

???☇☇☇??? ???

The bitcoin standard

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The Bitcoin Standard Book Summary - Saifedean Ammous - MattyGTV

341 views | 9 Aug. 2020

The Bitcoin Standard Book

The Bitcoin Standard Book Summary - Saifedean Ammous

1. Currency is crucial because without it we would be forced to barter. It doesn’t scale.

2. Moving from the gold standard to fiat/paper currency created a century of boom and bust cycles, along with increasing inequality and debt.

3. Rai stones were used as money on Yap island. This was great as it was scarce and easily divisible, like gold. Then a foreigner imported loads of Rai stones to buy coconuts on the island. This made the currency worthless due to the massive supply, and Rai stones went back to being worthless stones. This is what happens to every fiat currency as the central bank prints to oblivion.

4. Currency debasement was developed to fund wars. Rulers started “coin clipping”. This increased inflation and led to the fall of the Roman empire.

5. War always leads to massive inflation. That’s why they abandoned the gold standard after ww1, people wouldn’t have liked the new fiat:gold valuation and if they overvalued the paper currency, people would’ve just traded it for gold and sold abroad.

6. Sound money such as gold is the basis for a functioning economy. That’s why we have so much poverty, investments aren’t keeping up with the real rate of inflation. The official government statistics are a lie. Sound money encourages savings and investment, crucial for sustainable, long term economic growth. The current high inflationary environment promotes investment but no savings.

7. Bitcoin is the only good that’s defined by absolute scarcity. The network is also safe and can’t be attacked. Bitcoin has been volatile however the fluctuations should decrease as the market grows.

8. We could peg fiat currency to Bitcoin, however this would require centralised institutions to monitor it.

The bitcoin standard

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Can Bitcoin Replace Government-Issued Money? A Debate

46 805 views | 22 Aug. 2019

"Bitcoin is poorly suited

"Bitcoin is poorly suited to the purpose of becoming any nation's main medium of exchange."

That was the topic of a public debate hosted by the Soho Forum in New York City on August 12, 2019. It featured George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute, and economist Saifedean Ammous, author of The Bitcoin Standard: The Decentralized Alternative to Central Banking (2018). Soho Forum Director Gene Epstein moderated.

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It was an Oxford-style debate, in which the audience votes on the resolution at the beginning and end of the event, and the side that gains the most ground is victorious. Ammous prevailed in the debate by convincing 23 percent of audience members to change their minds.

Arguing for the affirmative was Selgin, whose books include Less Than Zero: The Case for a Falling Price Level in a Growing Economy (2018) and Floored! How a Misguided Fed Experiment Deepened and Prolonged the Great Recession (2018).

Ammous argued for the negative. An associate professor of economics at Lebanese American University, Ammous is also teaching an online course in bitcoin and Austrian economics.

The Soho Forum, which is partnered with the Reason Foundation, is a monthly debate series at the SubCulture Theater in Manhattan's East Village.

Music: "Modum" by Kai Engel is licensed under a CC-BY creative commons license.

Produced by Todd Krainin.

Gonzalo Coelho

How can Selgin say that Bitcoin is volatile, say that gold isn't a good medium of exchange and be in favor of a gold standard. It makes 0 sense to me

Tire Chasers Houston

With my average understanding of Bitcoin, I'm taking the glass-half-full outlook.
It sounds like Prof. Ammous is saying Bitcoin should become the "gold standard" to the worlds economies.
So, if the world had been on the bitcoin standard in 2014 when global GDP was somewhere around $86 trillion, 1 of the 14 million Bitcoin in circulation would have been worth $6,142,857.14.
And when Bitcoin production is capped in 2140, the value of Bitcoin should directly mirror the value of all the world's economies.
If the worlds GDP were to grow at 3% per annum, the world GDP will double in size by 2037.
Conservatively If the world has adopted the 18 million Bitcoin that will be in circulation as its gold standard by 2037, 1 Bitcoin will apparently be worth $9,555,555.56, conservatively.
$1000 worth of Bitcoin today could be worth $987,000 in 2037 if the magic happens.
If I own 1 Bitcoin today, my 1/21 millionth ownership stake in the world economy in 2140 could be valued at well worth the price I paid in 2020. If the world goes on the Bitcoin standard.
I should be getting Bitcoin while it's still "cheap".
Here in the US we will still have the dollar. It will be a digital Dollar. The digital Dollar will be backed by our supply of Bitcoin. The total digital Dollar supply in circulation will not exceed the dollars backed by Bitcoin. The transaction will be based on trust in the dollar. Transaction will occur just as quickly as when we were on the gold standard. Store owners will balance their books (add to the blockchain) at the end of the day or continuously all day long, as usual. It will all be digital. It will be easy.
There will be little need to paralyze daily business operations while waiting for a transaction to settle.
So, what will it take to convince the US government to start hoarding Bitcoin, TODAY?

Mark Serrano

These two both have brilliant minds. Instead of thinking that it's one versus the other think of them as two men that could be a part of a powerful think thank. The key to not being weak is leveraging the strengths of others.

BigestBubbler

This is two speakers who agree BTC-Bitcoin is not a good replacement for cash. A real peer-to-peer electronic cash for the world's people such as Bitcoin Cash (BCH) is working to become, is the thing to debate vs fiat.

BTC-Bitcoin was infiltrated and intentionally corrupted to block/delay the creation/adoption of peer-to-peer electronic cash for the world's people. Many social engineering operatives like Mr Safedean fill social media with false narratives about how a crippled Bitcoin is still valuable even though it cannot be popular (used by many per day). I agree BTC will be able to survive as a settlement layer, but, that functionality will not be enough to retain the coins inflated value. If BTC was a "store of value" (it has not been that yet) that value will not last without functionality/scale-ability. The BTC owners knew this and claimed the answer was the Lightning Network second layer to save BTC from it's intentional functional limitations. We now know LN is a joke that will not fix the lack of scaling.
The idea that BCH will not become global cash because it is not getting a lot of daily use today is a red herring. This oft stated false narrative is a hope and dream of the anti-cryptocurrency forces that control BTC-Bitcoin. The mature infrastructure for adoption and use of a real peer-to-peer electronic cash for the world's people is not in place yet. When any real P2P currency catches on it will grow quickly and it's value will do the same at that time.

Arjuna93

Ammous doesn't understand what he is talking about or deliberately misrepresenting the thing.

Midas Mulligan

Just bought more Bitcoin, thank you Saifdean

Ekorre

1:10:46 "did the kids that acted on your advice think thats funny?" .... BETA-MALE. Number go up!

T K

why does Selgin embarrass himself like that :S

Big Teddy Bear

No.

CRYPTOVERSE 101

Saifedean Ammous was incredible

Prog Nauts

Safedean demolished his statements with his smile!

Fredrik Wallinder

I don't think the US will drop their currency anytime soon. And politicians can simply make BTC illegal, so even though it can exist on a computer network it cannot be used for payment in reality. Same with Libra etc.

Lobster Boy

In order for Bitcoin to be suitable or probable as our main medium of exchange, the government and banks will need to "approve" it. That would take all control from banks and government and that's not likely.

H3YL1ST3N

I would love bitcoin to succeed with the official money transfer on mass! The news on recent activity in China is a huge step in advancing the global knowledge of digital currancy!

CRYPTOVERSE 101

This was painful, sounds like that dude hasn't done sufficient research.
Exchanges hacked? - don't keep them on an exchange
Transaction cost - lightning network OR many other ways Bitcoin can scale
Volatile - Just because it is small doesn't mean it can't be big, growing every year and the % spikes are smaller every year
Less and less volatile every year

Frank Fisher

Well, i dont care what they say about bitcoin, i am in for it, for life, one of the best steps i have taken in my life is Investing in bitcoin in 2020, its never too late to begin buying into bitcoin, its unbelievable how i made over 3.6 BTC in profits only, in just a period of 3 months, what else do i need to tell you? You can make that too, i can be you, only if you take that step.

Yin Yang

This argument is nonsense in my opinion, Bitcoin invented to get rid of fiat currency and banks high fees and control of governments not gold.

Bob Tatar

I'm a big fan of Bitcoin and own a small mining operation. I also lean libertarian and am offended by the rewards given to the greediest among us. Nevertheless, Selgin was convincing because he seems to understand how "money" actually works. Saifedean's belief that a central bank controls or is usually involved in a transfer of money across a country border is just not true. I'm sure the shareholders of Western Union, American Express, etc. would be very surprised to learn that they are owners of a government entity. Saifedean also talks about the advantages of private money and distributed networks. So, which bank exactly is the central bank of Eurodollars? There is none. These international dollars are all created in the so-called shadow banking system involving a distributed, world-wide network of independent, private companies. In the USA, most of the "dollars" in existence are dollars created through loans from the many for-profit, commercial banks. Even the settlement system hardly involves the Fed since the private USA banks trade reserves among each other in the fed funds market without any intervention from the "central bank." Any by the way the Federal Reserve itself was founded as a privately owned organization that collaborates with--but is not owned by--the US government. Saifedean is right to distinguish the settlement system from the payment system, but then confuses the issue with his comments about wealth storage and speculation. Most people carry dollars or dollar equivalents because there is a nearly certain probability of being able to convert them into some particular use value. Speculation involves actions that assume much higher uncertainties. He made a few good points but too many bad ones to be as credible as Selgin who was far more consistent.

Nikolaos Beratlis

1:04:34 It is astonishing how George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute, confuses medium of exchange with method of payment and Saifedean has to give him a very basic example that when you transfer money with Paypal the medium of exchange is the dollar but the method of payment is Paypal. Saifedean makes fool of him, a ten year old would understand the difference. Imagine that people like him with PhDs teach classes in economics or work at central banks and they think they know it all.

Ian Szgatti

No.

Doug Smith

time of fiat currency is over ...
people are afraid to use fiat due to corona virus ..the only solution left is crypto ...
2020 has come with many new hardware wallets... including keep key and WALAHALA Hardware wallets ...
but i will prefer WALAHALA Hardware wallet ...
https://walahala.com/
they have their hardware wallet .. exchange and coin ...
their hardware wallet is decentralized connected to their own live exchange ...
https://walahala.com/walahala-wallet

means your money will be in your hardware wallet only ..not even in exchange ....
time has come that we dont have to be slaves to exchanges anymore..keep your assets with you only
i think you should make video on their wallet and technology

BTC Blossom

I think he’s looking at it in the opposite way as Bitcoin properties slows down transactions during mass adoption instead of looking at Bitcoin as the dollar and second layer solutions as payment systems

Narit Phoonsawat

Fuck the people, dumb sheeple, just let them keep using this worthless piece of paper that has lost 98% of its value, while cryptos (BTC) hit a million.

hangtuah on streaming!

the fed seems so scared haha

Sinu Teisik

Saif is amazing and his book The Bitcoin Standard is even better.

washabi nutter

Infrastructure still building and its the exchange are the security issues not BTC itself ...hashrate is ATH. 51% attack for a foregone conclusion.

Scott

Argentina JUST this very moment imposed currency controls on their citizens, they are only "ALLOWED" to buy $10,000 worth of dollars a month!! "ALLOWED" !!!!

demon2441

But it's not the government to that controls the central bank is it?

Nicholas Roberts

Diversifying and investing in crypto should be on top of every wise person's list of priorities as it opens one up to passive income.

Drew Smith

This scares away the ordinary people who knows little or nothing about Bitcoin which also cause many missing the best opportunity of a life time. Whether you like it or not, bitcoin will be widely used regardless within the next 5-10 years.

Tom White

Chizzled smooth talking latino guy has dynamic, fluid thinking. Meanwhile dull boomer wasp guy has static old thinking.

ShaneyElderberry

I think the blockchain style system will inevitably be applied to the majority of digital transactions, however, exponentially speculative cryptocurrencies ring a bit temporary, like Napoleon d'Or. Nation states are more likely to overcomplicate the process, by using a system measuring nation identifying credits in user-friendly digital wallets - retiring physical currency in most transactions. Perhaps, extremely expensive scientific supplies (element diverse) and precious artworks would still command prices worthy of trading physical rare metals.

Zyed Ben Zayed

Short and simple answer : YES

Nancy perez

I make huge profits on my investment since i started trading with Mrs sophia hicks,her trading strategies are top notch

Crypto Valentine

A government steals billions every year, bitcoin old transfer prices same as bacs transfers and takes a few days to complete with a bank. Bitcoin a few minutes

Gilian

Saifedean seems to be a good speaker here imo, too bad he is just being an agressive asshole in most interviews and on twitter and is narrowminded when it comes to cryptocurrencies.

I think this debate would've been interesting if it was between Saifedean and someone else who knows what they are talking about.

Happily Divorced

F**k Engel and his ilk. I bet people like him are
secretly buying as much BTC as they can get their hands on.

Hew Hex

It’s funny how he was indicating he was in favor of XRP without just saying it. It wouldn’t have won over the BC enthusiasts, but the explanation would have won more of those who were undecided.

148.g fOrLifE!

It's like chasing the wind....

Jesse Busman

Bitcoin? Probably not.
Decentralized trust-less cryptocurrency? Yes, definitely!

russ burton

the more i look into monero the more i like it . Its what bitcoin should have been. stupid people talk and smart people listen.

Seth Johnson

We are developing a per to per settlement system, we currently are looking for any help to continue paying our programmers. Please help , our settlement system will be free and decentralized.
1PQVCETgvZg176WXESjYn82vrfC8MbspS8

SHERWIN NOROMBABA

51% ATTACK TO BITCOIN IS IMPOSSIBLE. 60% OF BITCOIN IS ALREADY LOST AND BECAUSE OF HALVENING. IMO.⛱️????????️?️?️?️????️?️???.

matasuki

A lot of the people investing in Bitcoin actually don't understand the true value prop. I was a skeptic till hearing this debate. So the value prop is that Bitcoin network is a method of transaction and a medium of exchange all in one? I'm think I'm almost there on understanding

winsomehax

How long does it take for your money to reach the merchant when you buy by Visa? You might be surprised - it's longer than 10m to an hour - AND there is a huge fee you don't see.

Paul Smith

There were plenty of real estate bubbles under the gold standard. There were land bubbles in 1819, 1837, 1857 and 1893. There were also asset bubbles going back to tulips in 1634. Henry George wrote Progress And Poverty in 1879 which talked a lot about land bubbles.

JS MD

I actually laughed out loud when the professor started knocking bitcoin security because bitcoin exchanges had been hacked. This is like claiming that the dollar is no good as a currency because someone walked into a bank with a gun and walked out with a bag full of money. The problem is with the exchanges not with the currency i.e. Bitcoin. A third grader could see the flaw in his argument I’m not quite certain why he could not.

Seekingthetruth

Bitcoin exchanges been hacked not Bitcoin!!!! ff, volatility, Bitcoin is still new get over it.

马云

Bitcoin is a scam. Likely a CIA tool to spy one every transaction of us

Saskia

Bitcoin is only in interest of some few people blindly believing in media touting. The masses will never accept any bitcoin like system for their transactions, and for preserving value there are hundreds of other systems - more simple and more secure.

CRYPTOVERSE 101

I just watched that whole video... Was only meant to watch 5 mins worth

Ronnie

bitcoin exchanges got hacked NOT BITCOIN!

Yuan Tronz

Bitcoin is anti Federal Reserve and essentially anti Semitic. ~ Epstein.

Rouan van der Ende

those arguing "it will never be fast enough" sound a lot like those who said video will never work on the internet

nonya biz

Bitcoin is being adopted in countries with unstable currency... what do you think will happen when we have the next big recession or even a depression? Bitcoin is basically banking on the fact governments and central banks collude and abuse their power. Power corrupts. The economy should not be controlled by government agents.

Philip Murray

RSR

Crypto Valentine

Cannot let the government control 51% OF BITCOIN as they will centralise it with bitcoin as a to back they fake digital currency.

Neel

Selgin represents Cato, while Saif represents Mises.

Every single time, the Mises Institute wins.

Just Joe

Xrp

gian maria roccoli

I have to admit that mr. Selgin critic to Bitcoin at the beginning of the video Is the smartest and the most competent i've ever heard.

Missy Panettiere

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mr android

This aged well. Saif wins....flawless victory!

james M

I hate when people speak on bitcoin but know nothing about the technology or the history of technology. They sound like people debating about the internet in the 90s. Now look at the internet. Innovation and scaling with bitcoin will advance rapidly over the next 5 years.

Mark Gilman

"If you use a store of value that is easy to inflate you will not have any value left"
Saifedean for the win!

washabi nutter

We’re not there yet with BTC , ...currently speculation and then SOV, medium of exchange, and finality unit of account. But endgame is BTC ..fiat is over

clive mossmoon

What makes bitcoin unique is the transaction and settlement layers are the same. The two-layer Core redesign is a complete mockery of bitcoin.

G B

Yeah nah. Not gonna sit through another hour of this crap. He should have been absolutely destroyed for saying that bitcoin is vulnerable to hacking but the opportunity was totally missed.

Luis A.T

I will come back in 10 years ?

John Connor

Is the old dude stupid? Of course BTC's value is going to swing wildy.. it's still a tiny market compared to most assets. It's like complaining that a baby strumbles or falls the moment it tries to walk. Give time old geezer. Once BTC heads 7/8 digits+, it will be more stable.

Max Ev

In my draw at home I have a few thousand $$'s I use for day to day expenses, I don't put the whole lot in my wallet as its less secure, I stick a couple of hundred in there which is ample for what I get up to. If I'm out and about and suddenly need more cash (which never really happens) I go through the lengthy process of driving home and picking up more. This is basically what you do with bitcoin but it takes 10 minutes.

Dixion Kalfman

Actually trading was not easy for me.
Lost a lot of money through + 500, FBS also lost a lot of money to trading assistants and copy trader's, almost gave up on forex / Bitcoin trading. but a friend of mine introduced me to a good broker, at first i thought it was another way of wasting my hard earned savings. But my greatest surprise was my investment of $ 3,000 came out with $ 6,580 in 10 days trading ..... You just have to be patient with them till your trades are completed ..... To be honest I didn't just recovered all my previous losses .. I made much more than my past expenses .. actually she charges 15% which won't affect you in any way since her trading efficiency comes in multiples of investment ...
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Ginseng Farmer

Exchanges were hacked, Bitcoin was not hacked. That is a incorrect fact that Bitcoin can be hacked. It should receive an a for being defensible against hacks, not a d. Anyone can hack a company or an exchange or a bank if they're holding Bitcoin or if they're holding American dollars. Bitcoin is just a Target right now, which is why it has exchanges being hacked. But the Bitcoin blockchain has not and will never be hacked.

matasuki

This is the best argument I've heard for Bitcoin. Quote of the year: "It's a speculative asset, but that's how we're gonna eat central banks". I'm sold. You're buying freedom from government control. That alone makes me want to invest.

CRYPTOVERSE 101

I want to get paid in bitcoin

Jacoby T Nelson

"ALL the other coins have someone in charge." Ummmm, not true. And in some cases, even if someone is in charge does not mean it can be shut down even if they wanted to.

Celsius Network Korea Fan Page

I didn't know who was who in this video. I read the description, and scrolled through the video without audio, and it was so easy to see who was who. Hilarious!

Bt Doe

FIAT is a means to steal from the kings subjects. By force..

washabi nutter

And the USD was basically a offchain 2nd layer private channel to gold ...

The Effin dip

I settled on amazon years ago then had to do a refund and customer returned damaged non sellable goods. Final transaction took a while just saying.

Ginseng Farmer

Ironically, here you are saying that Bitcoin can't replace the dollar because Bitcoin is so volatile in value. Well the dollar is so volatile in value compared to bitcoin. We are talking about a new currency that will replace the other currencies, so in that case, the volatility against the current currency value has absolutely no bearing. In other words, who cares what bitcoin's value is in relation to the rest of the dollars eventually all the dollars will be in vik Bitcoin and this crazy Pump It Up and lower it printing more money bulshit will be gone. Then, Bitcoin will be the absolutely most stable currency you have ever seen. It cannot and will not be manipulated so it's price will be the most stable ever.

Gonzalo Coelho

INVENTE SAIFEDEAN INVENTE

Max Bonnett

Awesome thanks

A JAH

Bitcoin is not a hard asset Mr. Saif. Its a code stored in a blockchain. Gold is a hard asset because you have physically hold it, melt it, wear it, etc. XRP is also the best digital asset ever created. Do your own research not financial advice.

Nigel P

Great debate gentlemen! Was closer than I suspected but I believe Saif was able to offer more cogent arguments for BTC as a monetary system. Fiat is losing its attractiveness. Interesting to see what the BTC network effects will be in the next few years

Roger Elder

Money is not government issued. It is central bank issued. It is a debt note. Bitcoin is comparable to gold and silver. Bitcoin has advantages over gold and silver.

Kole Davila

Information is power, but the right information will make you wealthy. Never overlook the potential that bitcoin and crypto have to change the world economy. According to statistics, the world will face a major economic recession in the coming year, and are you planning ahead for it? I guess most people answer will be no, you need to face the world and the surprises it brings with the right approach. Bitcoin will save many in the coming year, and this can only be achieved if only you invest and hold some reasonable amount of it today. As a bitcoin investor, I will always point out the importance of why we need to hold some amount of bitcoin ahead of the upcoming major bull run and world economic recession. If you have noticed, the news coming out of these major institutions is that they are adopting blockchain technology, and just days back Rakuten made a statement that it has opened its exchange. So what I will advice everyone to do now is to hold more bitcoin and I know that many will be asking how possible is that. Don't worry a pro trader who helped me is also available to help you as well. Brandon Gaston is a pro trader, and he helped both newbies and advanced traders to make more profit trading crypto. In the first month of using his strategies, I profited up to 345%, and my portfolio became green again. He can also help you to achieve that or even more by just contacting him today via (( [email protected]gmail.com ))** and , and remember that the right information is the ultimate power...

washabi nutter

Regardless of price, everyday that passes, BTC will have worldwide trust which is key to money.

Jiro Conwi

The idea of bitcoin is that for most people to mine. It will speed up the transaction and will lower the fee because it would eat up all the transactions at the mempool.

Emmanuel Deligeorges

This video will age poorly for that guy who is against Bitcoin...

Zyed Ben Zayed

BITCOIN IS THE KING

Joe Schmoe

One year later... Prof Selgin having fun staying poor...

Ivan beers

XRP is King. Bitcoin is a useless prototype

No Name

Selgin isn't very persuasive here and really appeals to the btc negatives, as opposed to the cash positives . He also talks vaguely about superior competitor crypto but seems to ignore or overlook the fact that bitcoin can adopt any and all the features of other 'coin' networks if the btc network deems them worthy and agrees to incorporate those features.

I am onboard with crypto/bitcoin's potential and understand where Saife is coming from with infrastructure of the final settlement tier vs. the impossibility of settling billions of consumer transactional balances in real time on the primary blockchain but he really didn't develop the basis on which those billions of lower tier 'off chain' instant payment transaction ledgers are eventually settled into the primary blockchain.

There is still a lot of work to do on crypto utility before btc becomes everyday transaction friendly and persuasive as a go to means of exchange. At this point the scaleability and volatility are the massive hurdles to overcome.

videos4mydad

Stop arguing whether BTC should scale or not - Bitcoin already did split from BTC and its called Bitcoin Cash - join the discussion on https://reddit.com/r/btc

OneMinuteFixed

in Portugal we can send EUR to other banks and get instant settlement, it is called MBWay , companies like revolut are allowing this to be done internationally too

Simply Irresistable

bring back dave smith

Corey R

Selgin has super weak arguments but I appreciate the fact he joined the debate

Linkamus

48:44 This is important to understand

washabi nutter

Honestly really? It’s only $180m market cap rn ...of course it’s a volatility at current price