Lets Talk Bitcoin - Episode 30 Participants Adam B. Levine (ABL) - Host Ste art (ST) - !

aster o" #eremonies !ark Hoc$stein (!H) - Panel !oderator Trevor Timm (TT) - Panelist %onat$an !o$an (%!) - Panelist Step$anie !&rp$' (S!) - Panelist Alan Sa"a$i (AS) - Panelist !ic$ael Terpin (!T) - Panelist ABL( Hi "olks) Adam B Levine $ere. *ere +ack "rom ,e -ork it$ talks) panels) and e.cl&sive intervie s to s$are it$ 'o& over t$e ne.t "e eeks. /ne o" t$e most ed&cational panels "or me personall' as t$e 0Bitcoin and 1reedom o" Speec$ panel) moderated +' a "riend o" t$e s$o ) !ark Hoc$stein. Panelists incl&de( Trevor Timm "rom t$e 01reedom o" t$e Press 1o&ndation) %onat$an !o$an o" 0Bitcoin,-#) Step$anie !&rp$' o" 0Lets Talk Bitcoin) Alan Sa"a$i o" 02ip2ap) and !ic$ael Terpin o" 0Bitan3els. /&r release sc$ed&le "or t$e ne.t "e eeks mi3$t +e a little more cro ded t$an normal) so sta' t&ned "or episode 30 to +e released some time +e"ore 1rida'. 4" 'o& $ave comments) 5&estions) or topics "or t$e s$o please visit letstalk+itcoin.com6reddit to +e directed to o&r ne listener interaction s&+reddit. *eve $ad a lot o" activit' $ere so "ar) and 4 am e.cited to $ear $at 'o& $ave to sa'. 4" 'o& en7o' t$e content "rom t$e con"erence t$atll +e releasin3 over t$e ne.t "e eeks) please donate +itcoins or litecoins at letstalk+itcoin.com. T$is trip as o&t-o"-pocket and 'o&r s&pport allo s &s to cover "&t&re con"erences in t$e same "as$ion. *e $ave t$ree or "o&r more sc$ed&led +e"ore t$e end o" t$e 'ear. Also t$anks to !ediaBistro "or p&ttin3 on s&c$ a 3reat event it$ 04nside Bitcoin. 4ll $and t$e panel o" to Ste art at t$is point) $es t$e events master o" ceremonies. En7o' t$e s$o . ST( T$is panel is a po er$o&se panel. *ere reall' t$rilled t$at all o" t$ese personalities ere assem+led and one o" t$e reasons t$e're $ere is +eca&se !ark Hoc$stein) $o is t$e E.ec&tive Editor it$ 0American Banker) as kind eno&3$ to $elp me invite ever'+od' and to initiate a lot o" t$ese contacts. So) !ark reall' $elped me it$ t$is event "rom t$e +e3innin3 and 4 reall' appreciate it. 4 ant to 3ive $im a +i3 ro&nd o" appla&se as $e is 3oin3 to introd&ce t$e panelists. 8Appla&se8 !H( T$anks Ste art. 4ts ver' "ittin3 t$at t$is event is or3ani9ed +' !ediaBistro. -ears a3o) 4) 'o& kno ) in t$e late nineties) 4 ent to a media-mi.er cocktail part' "or 7o&rnalists and people like t$at) t$at as or3ani9ed +' 0!ediaBistro. And 4 met t$e p&+lis$er o" 0Hi3$ Times !a3a9ine.: And 4 told $im t$at 4 orked at a Bankin3 P&+lication. And $e said( ;*ell) 'o& s$o&ld an article "or me a+o&t $o to la&nder mone':. 4 as on t$e mort3a3e +eat at t$e time) so 4 dem&rred +&t 4 &$ - 4 asked $im $at t$e o""ice environment as like at 'o&r ma3a9ine. He said) ;4ts prett' m&c$ $at 'o& e.pect.: So on a serio&s note) one o" t$e t$in3s t$at 3ets overlooked 4 t$ink) $en people talk a+o&t Bitcoin in t$e mainstream media) is t$e positive aspects o" its ne&tralit'. -o& kno ) t$ere are people $o sa' its &sed to la&nder mone') its &sed to +&' dr&3s) potential "or it to +e &sed +' terrorists and $at not. B&t t$ere is a "lip side to t$at and 4 am 7&st +rie"l' 3oin3 to read a 5&ote $ere. T$is is "rom 0Bitcoin !a3a9ine)

$ic$ is o&t in t$e e.$i+ition area t$e're sellin3 t$ese. T$is is "rom $en 0*ordpress started acceptin3 +itcoins. T$e' said) t$is is $o *ordpress e.plained it. T$e' said) $' t$e' accepted +itcoins to sell t$eir add-ons( ;Pa'pal alone +locks access "rom over <0 co&ntries) man' credit card companies $ave similar restrictions) some are +locked "or political reasons. *$atever t$e reason is) e dont t$ink an individ&al +lo33er "rom Haiti) Et$iopia or =en'a s$o&ld $ave diminis$ed access to t$e +lo33er sp$ere +eca&se o" pa'ment iss&es t$e' cant control. /&r 3oal is to ena+le people) not +lock t$em.: And t$en t$is as additional commentar' "rom t$e article) and it re3ards anon'mit'. ;!an' +lo33ers t$at operate in restricted re3imes do so &sin3 pse&don'ms "or t$eir o n protection. Traditional pa'ment met$ods like credit cards and 0Pa'pal are &n&sa+le "or t$ose +lo33ers +eca&se t$e' e.pose t$e pa'ers p$'sical identit':. And 4 t$ink t$at it is a reall' "ittin3 introd&ction to a disc&ssion a+o&t t$is aspect o" Bitcoin. So 4 am 3oin3 to ask eac$ o" t$e panelists to +rie"l' introd&ce 'o&rselves) and e.plain $at 'o& do and $o t$at ties in to t$e s&+7ect o" Bitcoin and "ree speec$. *ell start to m' le"t) Trevor. TT( Hi ever'+od') m' name is Trevor Timm and 4m t$e E.ec&tive >irector o" t$e 01reedom o" t$e Press 1o&ndation. 4 also ork "or t$e 0Electronic 1rontier 1o&ndation) t$e 0E11) $ic$ is a di3ital civil li+erties "o&ndation in San 1rancisco. And 4m $ere to talk a+o&t +ot$ 7o+s o" mine +eca&se t$e' +ot$ deal directl' and indirectl' it$ *ikileaks and +itcoin and "ree e.pression. E11 as one o" t$e "irst or3ani9ations to take +itcoin) +ack in ?0@0. T$e' s&+se5&entl' decided to stop takin3 it) and t$en recentl') in t$e last mont$ or so) e started takin3 it a3ain. And 4m 3onna pro+a+l' 3et into t$e reasons $'. *eve received a lot o" criticism) +&t t$ere is act&all' ver' 3ood reasons) mostl' to act&all' protect +itcoin and make s&re t$e markets sta'ed as so&nd as t$e' ere. 1or t$e 01reedom o" t$e Press 1o&ndation e started si. or ei3$t mont$s a3o. /&r 3oal is to "acilitate and cro d-"&nd donations to a variet' o" transparenc' 7o&rnalism or3ani9ations. T$e most nota+le +ein3 *ikileaks. *ikileaks is pro+a+l') as man' o" 'o& kno ) c&t o"" "rom Aisa) !astercard and Pa'pal) +ack in t$e end o" ?0@0. T$e' started to p&+lis$ classi"ied) state department ca+les. T$e same ca+les t$e ,e -ork Times and ot$er ne spapers ere p&+lis$in3. B&t) +eca&se o" press&re) &no""icial press&re "rom a co&ple o" con3ressmen) all o" t$ese pa'ment processors decided to c&t o"" *ikileaks. Even t$o&3$ t$e' $ad +roken no crime and ere protected +' t$e "irst amendment like t$e ,e -ork Times as. And so) e set &p o&r or3ani9ation to +ot$ $elp ot$er 7o&rnalism or3ani9ations i" t$is ever $appened to t$em) and also to take donations to *ikileaks. A +i3 a' t$at *ikileaks as a+le to s&stain itsel" d&rin3 t$is t o-'ear period $ere t$e' co&ldnt take donations) as t$ro&3$ +itcoin. And e also decided to take +itcoin 7&st a"ter o&r la&nc$) and e can 3et into t$at later in t$e panel +&t 4ll pass alon3. %!( Hello) 4 am %onat$an !o$an and 4 "o&nded 0Bitcoin,-#. 4n t$e past "ive mont$s) eve 3ro n to +e t$e lar3est and most active +itcoin-related comm&nit' in t$e orld. !' perspective $ere is kind o" on t$e 3ro&nd o" $at it is - means to adopt +itcoin. As it relates to "ree speec$) 4 am tr'in3 to prosel'ti9e +itcoin as m&c$ as possi+le) so 4 kind o" +rin3 t$at an3le to t$e disc&ssion. S!( Hi) m' name is Step$anie !&rp$' and 4 am a radio and podcast $ost. -o& ma' kno me "rom t$e podcast called 0LetBs Talk Bitcoin. 4ts a t ice- eekl' s$o ) all a+o&t +itcoin and cr'pto c&rrencies) $ic$ 4 $ost it$ Adam B. Levine) $o is over $ere) and Andreas Antonopo&los. -o& kno ) o+vio&sl') 4 am reall' interested in Bitcoin. 4 3ot interested in it +ack in ?0@@ so 4 3&ess 4 as "airl' earl' in on t$e c&rve and t$e a' 4 $eard a+o&t +itcoin initiall' as "rom anot$er radio s$o ) t$at 4 am also a $ost o"") $ic$ is called 01ree Talk Live. And t$ats a nationall' s'ndicated talk radio s$o it$ an individ&al li+ert' +ent. And 4

am someone $o $as) "or a ver' lon3 time) $ad a reall' stron3 interest in $&man "reedom o" all di""erent kinds) it e.tends to a lot o" di""erent areas o" interests o" mine. And so 4ve +een "ollo in3 t$in3s like *ikileaks and an't$in3 t$at $as to do it$ Bitcoin) "reedom o" speec$) and potentiall' sort o" t$e or3ani9ations t$at ma') 'o& kno ) t$is talk ma' +e reall' relevant to 'o&) so 4 3&ess 4m comin3 at it "rom more o" a 7o&rnalism an3le. And 4 also $ave an interest in Bitcoin c$arities. So) 'o& kno ) t$ese t o t$in3s sort o" dovetail to me. 4 ork it$ a +itcoin-+ased c$arit' called 1r33Aid. *e do o&treac$ and ed&cation a+o&t $ealt$ and sa"et') and e also provide "irst-aid at some sort o" r&ral campin3 events. And so 4ve +een reall' interested in $o +itcoins can +ene"it c$arita+le and non-pro"it or3ani9ations. So) 4ll +e talkin3 a little +it a+o&t t$at too. AS( T$ank 'o&. Hi) t$is is Alan Sa"a$i. 4 am "o&nder and #E/ o" 02ip2ap. 02ip2ap is a 3lo+al cas$ pa'ment net ork) so e o+vio&sl' deal it$ a lot o" anon'mit' iss&es) and =-#) and A!L iss&es. B&t 4m $ere on t$e panel toda' +eca&se o" m' +ack3ro&nd. 4 immi3rated $ere "rom 4ran in @CDD) +e"ore t$e revol&tion. So) 4ve lived &nder oppressive re3imes +e"ore. And 4ve 3one +ack to 4ran "or visits and 4ve lived &nder t$at oppressive re3ime a"ter t$e revol&tion. So) "reedom o" speec$ is a ver' important and dear concept to me. 4 "i3$t "or it. 4 teac$ m' kids to "i3$t "or it and not +e +&llied. So 4 +elieve "reedom to spend 'o&r mone' is part o" 'o&r ri3$ts. Similar to "reedom o" speec$ is "reedom o" e.pression. So) i" 'o& like $at some+od' sa's on t$eir +lo3 and 'o& ant to donate mone' to t$em) 'o&re e.pressin3 'o&r s&pport o" t$at "reedom o" speec$) so its important "or &s to "i3$t "or t$at. And 4 am "i3$tin3 "rom inside t$e re3ime "or t$e past @E 'ears. 4 $ave +een involved it$ prepaid Aisa and !astercard prod&cts. A compan' t$at m' son is no r&nnin3) since 4 la&nc$ed 2ip2ap. So 4 $ave decided to 7oin t$e "i3$t "rom it$in and 4 am a "reedom "i3$ter) so 4 look "or ard to 'o&r -ina&di+le!T( Hi) m' name is !ic$ael Terpin. 4m a serial entreprene&r in t$e media ind&str'. 4 disr&pted +&siness models a "e times. 4 started t$e "irst national PF "irm +ased on ne media and internet +ack in t$e earl' @CC0s. 4 t$en started t$e "irst internet-+ased press release distri+&tion compan'. 4t as ori3inall' called 04nternet *ire in @CCG) "&nded +' Se5&oia #apital. *e c$an3ed t$e name $en e started orkin3 it$ ,AS>AH to 0!arket *ire and e sold it in ?00<. 4ts no t$e t$ird-lar3est ne s ire in t$e orld "or compan' ne s and press distri+&tion. And 4m c&rrentl' #E/ o" 0Social Fadio) $ic$ is one o" t$e oldest social media marketin3 "irms in t$e co&ntr' and also it $as a PF division. 4 3ot involved in Bitcoin in t o a's. 4 as orkin3 it$ clients "or a decade in t$e virt&al c&rrenc' space) $ic$ &nlike di3ital c&rrenc') virt&al c&rrenc' is kinda 7&st like a c&rrenc' and it operates inside a video 3ame - Second Li"e) and e orked it$ a n&m+er o" companies s&c$ as Entropia Iniverse) in $ic$ 'o& can act&all' take mone' o&t o" t$e video 3ame and spend it. T$at as sort o" t$e predecessor to a lot o" t$e "reedom o" c&rrenc' iss&es t$at are comin3 &p no . *$en 4 "irst ent to t$e +itcoin con"erence in San %ose) $ic$ as act&all' t o mont$s a3o) 4 as str&ck +' t$e "act t$at it as in t$e same small room as t$e "irst 4nternet *orld) also r&n +' Alan !eckler $o o ns !ediaBistro. A+o&t t$e same si9e and t$e' $ad t$ese old @0 +' @0 ta+les in @CCG "or t$ese little start-&p companies called -a$oo and L'cos) and $ere 'o& $ad #oin+ase and) 'o& kno ) so 4 7&st 3ot t$is idea t$at t$is as sort o" t$e +i33est t$in3 eve seen since social media @0 'ears a3o and t$e 4nternet ?0 'ears a3o) and t$at 4 needed to +e t$ere. 4 t$en met >avid %o$nston at t$e cocktail part' and e $ad a conversation t$at t$ere needed to +e an an3el 3ro&p) +eca&se t$ere as a 3ap +et een t$e cro d"&ndin3 o" some o" t$ese ne start-&ps. And $en t$e' "inall' 7&st started mintin3 mone' and 3ro in3 at @J percent a eek and eBd 3et J million dollar c$ecks "rom Inion S5&are and some o" t$ese ot$er top A#s. >avid said ;*$' dont e start oneK: and so e did. *e co-"o&nded a 3ro&p

called 0BitAn3els. *e are act&all' 3oin3 to +e $avin3 a meetin3 at l&nc$. *e 3re "rom t$e t o o" &s to no ?00 an3els. *e "&nded one deal and e are 3ettin3 read' to anno&nce t$ree more t$at are in t$e process o" closin3. 4 am also on t$e +oard o" t$e ne Ho&se Sc$ool o" %o&rnalism at S'rac&se Iniversit') $ic$ is one o" t$e premier 7o&rnalism sc$ools in t$e orld) and e are ver' "oc&sed on o&r "irst amendment ri3$ts. At "irst) $en 4 as asked a+o&t t$is panel) 4 as t$inkin3) ;*ell) c&rrenc' and "reedom o" speec$ arent e.actl' t$e same t$in3 and t$en) o" co&rse) 4 re+ro sed t$e decision o" #iti9ens Inited $ic$ +asicall' sa's t$e' are.: ST( *$ic$ act&all' +rin3s &s t$e "irst 5&estion 4 ant to t$ro o&t to t$e panel( ;Are "inancial transactions "ree speec$:K TrevorL. TT( *ell) 4 o&ld ar3&e t$e' are) no matter 'o&r "eelin3s and 0#iti9ens Inited and 4ll 7&st 3ive t$e prime e.ample $ic$ 4ve +een orkin3 on "or < mont$s) $ic$ 4 7&st mentioned) $ic$ is *ikileaks. -o& kno ) *ikileaks as a+le to p&+lis$ t$ese classi"ied doc&ments in t$e p&+lic interest) 7&st like ne spapers do all t$e time. -o& kno ) t$e *as$in3ton Post) t$e ,e -ork Times) t$e *allstreet %o&rnal. 4" 'o& open t$ese papers &p on an' da') 'o& are +o&nd to "ind classi"ied in"ormation on its "ront pa3es. B&t +eca&se t$e Inited States 3overnment co&ld not 3o to co&rt to censor *ikileaks o""iciall'. T$ere as a decision +ack in t$e seventies a+o&t t$e Penta3on papers. T$e ,e -ork Times p&+lis$ed a top secret st&d' a+o&t Aietnam and it ent all t$e a' to t$e S&preme #o&rt. T$e S&preme #o&rt said t$at) e""ectivel') t$at t$e 3overnment cannot censor ne spapers. T$e' can onl' potentiall' p&nis$ t$em a"ter ords) $ic$ $as never $appened. People ar3&a+l' said t$at t$at is protected +' t$e "irst amendment as ell. So) i" t$e 3overnment decided to 3o to co&rt to stop *ikileaks) t$e' pro+a+l' o&ldve +een la&3$ed at +' a 7&d3e. T$ere $as +een a lon3 $istor' in t$is co&ntr' t$at no prior restraints or censors$ip orders are allo ed. And so) t$e' ent a di""erent ro&te. T$e' decided t$at +eca&se o" t$e a' t$e internet orks) $ere all t$ese intermediaries reall' $old an e.traordinar' amo&nt o" po er over $at 'o& p&+lis$ online) t$at t$e' o&ld tar3et t$ose intermediaries &no""iciall'. So senator %oe Lie+erman and #on3ressman Peter =in3 approac$ed t$ese companies privatel' and also p&+licl' asked t$em to stop servicin3 *ikileaks. ST( So Trevor) t$is as an e.trale3al press&re. T$is as not even t$ro&3$ t$e le3islated process. TT( Fi3$t) i" it as t$ro&3$ t$e le3islated process) it o&ldve +een str&ck do n immediatel'. 4" it as in "ront o" a 7&d3e) t$e' o&ldve +een la&3$ed at in co&rt) +&t instead t$e' decided to do it it$ a ink and a nod. And so Aisa) !astercard) and Pa'pal amo&nted "or CJ percent o" all t$e donations *ikileaks co&ld take. And so) nat&rall') t$e' ere prett' m&c$ s$&t o"" "rom an' "orm o" "&ndin3. At t$is point) t$e' ere inc&rrin3 $&3e costs 3iven t$at t$e I.S started an investi3ation into t$em) despite +ein3 protected +' t$e "irst amendment. T$e' ere 3ettin3 >>oS attacked and t$eir e+site as 3oin3 do n. T$e' $ad a $&3e amo&nt o" server costs +eca&se) o+vio&sl') ever'one in t$e orld as 3oin3 to t$eir e+site to read t$is ne s. *e "elt t$at t$is as a real in7&stice. -o& kno ) t$e I.S 3overnment co&ldnt censor t$em le3all' +&t t$e' co&ld stran3le t$em "inanciall' and $ope t$at event&all' t$e' 7&st +led o&t essentiall' and co&ldnt contin&e. T$at act&all' lar3el' orked 'o& kno ) *ikileaks as kinda t$ro n o""line "or a $ile) t$eir sta"" as 3reatl' red&ced) and so event&all' e decided to start t$e 01reedom o" t$e Press 1o&ndation) $ic$ on o&r +oard consists o" >aniel Ells+er3) t$e Penta3on papers leaker) Mlenn Mreen ald) and La&ra Poitras $o are) and i" 'o&ve +een pa'in3 attention to t$e ,SA stories and Ed ard Sno den) t$e' ere t$e

7o&rnalists t$at leaked t$ose stories. T$e actor and activist %o$n #&sack is also on o&r +oard) and %.P Barlo ) also a "o&nder o" 0E11. /&r 3oal as to take donations to *ikileaks so t$at t$is &n7&st act o&ldnt 3o &np&nis$ed essentiall'. B&t also to make s&re t$at e co&ld +e t$ere i" t$is ever $appened a3ain. /+vio&sl') in t$e ne.t "e 'ears )t$ere is 3oin3 to +e man' e+sites t$at $ave a di3ital-onl' p&+lication model and man' $o mi3$t +e like *ikileaks) $o take anon'mo&s s&+missions "rom $istle+lo ers. And i" t$e 3overnment decided t$at t$is attack as &sed a3ain) t$at e o&ld +e t$ere to step in and sa') ;/k) ell take donations. -o& can donate to &s and e can provide a certain level o" anon'mit'.: T$is is kind o" $ere Bitcoin comes in. L&ckil') *ikileaks $ad +een a+le to take +itcoin donations "or t$ese t o 'ears) and it kept t$em a"loat at least so t$at t$e' co&ld s&rvive at least it$ +are+ones costs. So nat&rall') $en e started o&r e+site) e 3ot all sorts o" complaints t$at e erent takin3 +itcoin. T$e amo&nt o" comments e 3ot a+o&t +itcoins vers&s all t$e ot$er comments com+ined ere pro+a+l' a+o&t e5&al. People 7&st reall' anted to &se t$is service to donate to somet$in3 t$at t$e' "elt t$at t$e' s$o&ld +e a+le to do anon'mo&sl'. And so) ri3$t a"ter e started) e prett' m&c$ $eard t$ese calls and decided to start takin3 +itcoin donations as ell. %&st to 3ive people anot$er a' to donate to a 3ro&p t$at) a3ain) its not ille3al to donate to) +&t it ma' look politicall'-+ad on t$eir part) or t$e' mi3$t +e orried t$at t$e' ma' end &p on a 3overnment atc$ list or part o" some investi3ation. T$at ma' +e "rivolo&s) +&t a3ain) t$e' 7&st dont ant t$eir name attac$ed to it. 4n t$at sense) its +een ver' s&ccess"&l and co&ld $ave $&3e implications "or "ree speec$ on t$e road. ST( T$ere is one 5&estion Trevor. #an 'o& s$are $o 'o& 3et t$e mone') $et$er it comes in "rom +itcoin or dollars) "rom t$e "o&ndation to *ikileaksK TT( S&re. A3ain) its not ille3al to donate to *ikileaks. T$ere is act&all' a variet' o" met$ods t$at people $ave +een a+le to do so. 4n t$e past t o 'ears) its 7&st m&c$ $arder. Ever'+od' &ses a credit card) ever'+od' &ses Pa'pal and it takes 30 seconds +&t 'o& can still +ank ire mone' to *ikileaks. -o& can send t$em a c$eck. -o& can &se a service t$at not ever'+od' kno s a+o&t +&t it still e.ists) called 1lattr) and o" co&rse) +itcoin. T$is "inancial +lockade asnt a le3al restriction preventin3 people "rom act&all' doin3 it. 4t as 7&st makin3 it m&c$ $arder) so e anted to +rin3 t$e ease +ack into donatin3 to *ikileaks. Miven t$at $o man' people anted to) +&t 7&st eit$er co&ldnt "i3&re it o&t or it made t$em e.tra nervo&s. 8Advertisement @8 !ore t$an 300)000 &sers and co&ntin3) tr&st +lockc$ain.in"o. 4ts a +itcoin allet service and a ealt$ o" Bitcoin in"ormation) and its completel' "ree to &se. *it$ a +lockc$ain.in"o allet 'o&ll 3et t$e convenience o" a e+ allet and t$e sec&rit' o" a desktop client. Blockc$ain.in"o is also a +lock e.plorer. -o& can &se it to see +itcoin transactions in real-time) c$eck t$e +alance o" an' Bitcoin address) and vie man' $and' Bitcoin c$arts all "or "ree. See $at t$e' $ave to o""er toda' at +lockc$ain.in"o. 8Advertisement ?8 Hi) t$is is %ason =in3) "o&nder o" Seans /&tpost) and 'o&re listenin3 to LetBs Talk Bitcoin. Seans /&tpost is a $omeless o&treac$ in Pensacola) 1lorida and e are pro&dl' po ered +' +itcoin. Toda') over @3)000 meals $ave +een "ed to t$e $omeless in o&r area. All p&rc$ased it$ +itcoin) and t$ro&3$ t$e 3enerosit' o" t$e cr'pto c&rrenc' comm&nit'. Fead more a+o&t &s at seanso&tpost.com. 1ood) s$elter) +itcoinL.ever'+od'. Seanso&tpost.com.

ST( Step$anie) "or or3ani9ations t$at are o&tside t$e political mainstream) $o important is it) $en t$e' are takin3 donations) to o""er t$e option o" anon'mit'K S!( 4 t$ink its incredi+l' important i" t$e' are 3oin3 to s&cceed. T$e e.ample t$at 7&st came to mind) $en 'o& ere talkin3 Trevor) as t$ere is an or3ani9ation called anti ar.com. T$e' +asicall' $ave a e+site t$at 3ives editorial ne s and vie s "rom an anti- ar perspective "or a+o&t @D 'ears. T$e' recentl' 3ot interested in Bitcoin. T$e've +een aro&nd "or a $ile. T$e've +een acceptin3 donations and t$e' $ave a pool o" donors. Fecentl') 7&st a co&ple o" mont$s a3o) t$e' "o&nd o&t t$at t$eir mana3ement) t$eir leaders$ip) $ad +een +ein3 s&rveilled +' t$e 1B4 "or a co&ple o" 'ears. T$e 1B4 $ad +een "ailin3 to respond to 1/4A re5&ests "or in"ormation a+o&t t$at. A co&ple o" t$eir +i3 donors $eard a+o&t t$at and 3ot reall' spooked. T$e' didnt ant to donate +eca&se t$e' didnt ant t$eir names attac$ed to s&pportin3 an or3ani9ation like anti ar.com. -o& o&ldnt t$ink t$at o&ld +e so controversial +&t apparentl' it is. So 'ea$) its a+sol&tel' important to $ave t$e option "or anon'mit') +eca&se some people do ant to donate +&t t$e' dont ant t$eir name attac$ed to it. Act&all') "&nn' eno&3$ 'o&d +e s&rprised. 4ve met a lot o" people in t$e Bitcoin space and 4 like to ask t$em $o did t$e' 3et interested in Bitcoin at "irst. T$ere $ave +een a lot o" people $o $ave told me t$at t$e reason t$e' 3ot into Bitcoin as +eca&se t$e' anted to donate to *ikileaks) and t$e' co&ldnt do it t$ro&3$ t$e le3ac' +ankin3 s'stem) or t$ro&3$ t$eir credit card or $atever. T$e' didnt ant t$at to +e p&+lic in"ormation. T$e' ere almost scared to sa') ; ell) 4 ant to 3ive +itcoin to *ikileaks.:. 4 t$ink t$ere is a lar3e pool o" people o&t t$ere $o o&ld donate to certain or3ani9ations i" t$e' co&ld do so anon'mo&sl' and +e ass&red o" t$at. Trevor) like 'o& ere sa'in3) t$ere is t$is climate o" "ear no +eca&se t$e 3overnment can e.trale3all' stran3le some+od' "inanciall'. T$e s'stem t$at e $ave $as +&ilt in so m&c$ "inancial control over potentiall' an'+od' t$at it is reall' important to $ave t$at option to donate anon'mo&sl'. !ark) $en 'o& said) ;4s "inancial action speec$) or are o&r "inancial transactions speec$K: 4ts "&nn' +eca&se t$e ord 0speec$ connotes "ree speec$) like t$e ri3$t to "ree speec$ t$at is ens$rined in t$e #onstit&tion. 4 $ave a sli3$tl' di""erent perspective on t$at. 4 dont t$ink it reall' matters $at is in t$e #onstit&tion) +eca&se "reedom o" e.pression is a $&man ri3$t. So) even i" "inancial transactions are speec$) t$en it s$o&ldnt matter $at t$e #onstit&tion sa's. *e all kno t$at t$e' dont "ollo it an' a'. Trevor) as 'o& said) t$e $ole press&re on *ikileaks as completel' e.trale3al. *e are almost at a point no $ere it doesnt reall' matter) or it matters less and less ever' da') t$at e $ave a "irst amendment. !a'+e e o&3$t to start lookin3 at speec$ and e.pression in man' di""erent "orms) incl&din3 "inancial transactions) as sort o" a $&man ri3$t. %!( *$en e are speakin3 a+o&t or3ani9ations t$at are o&tside t$e political mainstream) 4 t$ink one e.ample t$at is not talked a+o&t so m&c$) +eca&se o" $o o&tside o" t$e mainstream it is) is 0>e"ense >istri+&ted. T$is is t$e or3ani9ation t$at ants to take 3> printed +l&eprints o" 3&ns and distri+&te t$em to t$e masses to 3ive t$e ri3$t to +ear arms to an'one $o $as a 3> printer. 4" 'o& are talkin3 a+o&t people $o dont ant t$eir names on a re3istr'L. T$e' $ave virt&all' no donations in "iat 7&st +eca&se 4 o&ld "ear to 3ive t$em mone'. 4" 'o& look at $ere t$e' receive t$eir "&ndin3 "rom) t$e' $ave $ad over NJ0)000 in donations t$ro&3$ Bitcoin. #od' *ilson) $o is t$e 3entleman $o r&ns t$is) o&ld sa' t$at $e o&ld 3o t$e events s&c$ as t$is and $e o&ld speak. Hed 3et ma'+e a co&ple o" dollars $anded to $im in person and t$en $e o&ld 3o $ome t$e ne.t da') and see t$o&sands o" dollars in +itcoins 3iven to $is or3ani9ation to $elp $im r&n it. Feall') it is a clear c&t e.ample o" somet$in3 t$at is almost entirel' "&nded t$ro&3$ +itcoin 7&st +eca&se o" t$e to.ic "inancial s'stem it$ people $o are "earin3 "or +ein3 p&t on t$e list "or somet$in3 as politicall'-e.plosive as t$e ri3$t to +ear arms.

ST( /r literall' e.plosive in t$is case. *ere kind o" 3ettin3 to t$e real ed3e o" $at a lot o" people o&ld +e com"orta+le it$. 4" "inancial transactions are speec$) does t$at mean i" someone act&all' does ire mone' to a terrorist or3ani9ation) is t$at an act o" speec$K >oes an'one ant to tackle t$atK !T( Even t$e traditional de"inition o" "reedom o" speec$ $as t$e $istoric limits on it like 'o& dont $ave t$e "reedom o" speec$ to 'ell 0"ireO in a cro ded t$eater i" t$ere isnt a "ire. 4 t$ink t$at its interestin3 it$ 0#iti9ens Inited) t$e S&preme #o&rt case t$at +asicall' said) "or t$ose o" 'o& $o arent "amiliar it$ it in ?0@0) t$at independent or3ani9ations co&ld take &nlimited donations on +e$al" o" a candidate or ca&se +eca&se ot$er ise) t$e' o&ld +e restrained in t$eir "ree speec$. T$at reall' opened &p t$e door "or a lot o" ot$er interpretations o" $at t$e corollar' +et een "ree speec$ and "ree ri3$t o" spendin3. T$ere $as to +e a corollar' dra n o" t'pe o" c&rrenc' or t'pe o" +arter. T$e IS doesnt reco3ni9e +itcoins as a c&rrenc') most places dont. #an 'o& donate "ine artK #an 'o& donate rare coinsK #an 'o& donate somet$in3 elseK /r can 'o& spend t$enK *it$ re3ards to 0#iti9ens Inited) t$eres a ne case t$at is comin3 +e"ore t$e S&preme #o&rt "rom a 3entleman in Ala+ama $o ants to +e a+le to donate &nlimited amo&nts directl' to t$e candidate. ST( ,ot t$ro&3$ a S&perPA#) +&t directl'K !T( >irectl' 'ea$. And t$at as settled in @C<D. He said) ;*ell) t$at as +e"ore 0#iti9ens Inited so ever't$in3 $as c$an3ed no .: T$ere is a ver' 3ood c$ance t$at t$at ill +e overt&rned) $ic$ means t$at t$ese NJ0)000-plate dinners co&ld +ecome NJ00)000-plate dinners. An'+od' $o sort o" ants to in"l&ence elections at an' level) itll +e even easier) even t$o&3$ in t$e States t$e' tried to p&t campai3n limits on. 4ts +een proven t$at t$ere is a m&c$ +i33er diversit' o" candidates. *$en 'o& $ave &nlimited ri3$ts to spend) 'o& +asicall' 3et rid o" diversit'. T$ese are all related ri3$ts even t$o&3$ t$ere are limits on it) 7&st like t$ere o&ld +e limits it$in c&rrenc' P 'o& kno ) doin3 ille3al activities it$in c&rrenc'. T$e 5&estion is( 0Ho do 'o& temper t$e "reedom o" speec$ it$ t$e "reedom o" a 3overnment to +e a+le to stop crimes and t$in3s like t$atK -o& certainl') in most nontotalitarian states) cant 3o @00 percent. -o& can stop all crime i" 'o& +asicall' "risk ever'+od' in t$e mornin3) in t$e evenin3) and "ollo t$em all da' lon3. T$ats a @00 percent compliance. 2ero compliance is $en e arent even lookin3 $en 'o& are killin3 someone in "ront o" &s. /+vio&sl' t$e medi&m is $at a societ' decides - is in +et een. ST( Alan) on t$at spectr&m t$at !ic$ael 7&st laid o&t o" @00 percent compliance and 9ero percent compliance) comin3 "rom a co&ntr' t$at $ad a tr&e a&t$oritarian re3ime) $ats 'o&r sense o" $ere t$e IS is on t$at scaleK AS( T$e co&ntr' as +&ilt on separation o" c$&rc$ and state. *e s$o&ld also add separation o" +ank and state. 8appla&se8 AS( 4 dont kno $ere in t$e #onstit&tion it sa's t$at t$e 3overnment is t$ere to protect me "rom m'sel". 1or e.ample) t$ere are so man' e.amples t$at Trevor talked a+o&t) *ikileaks is one e.ample) $at $appened it$ Sno den is anot$er e.ample. Even o&tside o" t$is) look at online 3am+lin3. 4 talked to t$e 3eneral mana3er o" one o" t$e lar3est casinos. T$e' p&s$ $ard) t$e' lo++' to 3et 3am+lin3 made ille3al +eca&se t$e' ant it to catc$ &p. T$e' ere

losin3 market s$are to people "rom t$e I= and ot$er places t$at came to Qt$eR IS. 4 am orried a+o&t lettin3 t$e 3overnment 3o so "ar at tr'in3 to control $ere e spend o&r mone' and t$e stran3le t$e' $ave on t$e "inancial services. *$ere do 'o& stop a"ter t$atK 4 o&ld sa' - ironicall' in 4ran) t$e' $ave more "reedom o" e.pression. -o& cant talk a+o&t t$e 3overnment) 'o& cant sa' +ad t$in3s a+o&t t$e m&lla$s) +&t 'o& can act&all' spend 'o&r mone' $erever 'o& ant. T$e' cant track it t$e a' t$e' do it $ere. -o& co&ld ar3&e t$at t$e' $ave more "reedom o" e.pression in 4ran t$an t$e' do $ere. 4m not advocatin3 to c$an3e t$e re3ime $ere or an't$in3 like t$at) $eaven "or+id. *$at 4 reall' o&ld like &s to do is to not 7&mp so 5&ickl' $en somet$in3 $appens like C6@@. All o" t$e s&dden t$e knee-7erk reaction is ;/$) lets create a Patriot Act.: Ho man' o" 'o& 3&'s reall' "eel sa"er +eca&se o" t$e Patriot ActK 4 ask people in t$e 3overnment) 4 ask people in t$e +ankin3 and in t$e la en"orcement. 4t $as created so m&c$ ork "or t$em) t$e're not spendin3 t$eir time reall' 3oin3 a"ter crooks and criminals. T$e same t$in3 is $appenin3 at t$e airport. T$e' spend so m&c$ time searc$in3 'o& $en 'o& 3o t$ro&3$ t$e line) t$at t$e're not reall' spendin3 time lookin3 "or a terrorist +e"ore $e +ecomes a terrorist. T$ats $at t$e' s$o&ld +e doin3. Look at 4srael) t$e' $ave reall' 3ood e.amples o" t$at) $ere in a "ive-mile radi&s +e"ore 'o& reac$ t$e airport t$e' are intervie in3 'o&) +e"ore 'o& even 3et close to t$e airport. T$e' are pro+a+l' intervie in3 'o& +e"ore 'o& are even leavin3 'o&r $ome. T$e' kno $at 'o& are a+o&t to do. 4 ant to step +ack and talk a+o&t one more t$in3. Lookin3 at t$ese em+ar3oes and sanctions) none o" t$em ork. People are reall' resilient) t$e' are ver' innovative) and t$e' "ind a's aro&nd it. *$en t$e' are spendin3 t$eir a's aro&nd t$e sanctions) t$e' are not creatin3 ne prod&cts) t$e' are not $elpin3 eac$ ot$er. 4" 'o& take 4ran "or e.ample) o" t$e <0)000)000 pop&lation) $al" o" t$em is less t$an 30 'ears old. A lot o" people) ver' $i3$l' ed&cated) a lot o" val&e c&lt&rall' p&t on ed&cation) a lot o" 3ood developers t$ere) and t$e' are involved in +itcoins. T$e' are +&'in3 t$em) +&t t$e' are doin3 it in innovative a's t$at 4 ont mention $ere. 4 o&ld sa') i" 'o& remove t$e sanctions) remove t$ese +arriers) and let people interact it$ eac$ ot$er) make 3lo+al trades $appen "reel') it$o&t "riction) and it$o&t costs. 4t s$o&ldnt cost me G? dollars to spend mone' to an A"rican co&ntr'. T$e poorer t$e co&ntr') +' t$e a') t$e more e.pensive it is to send mone' t$ere. T$ats criminal - to me) t$at is criminal. Let people transact it$ eac$ ot$er) and $at $appen is 'o& $ave +illions o" people t$at are no in risk 3ettin3 mone'. T$e' are sellin3 t$eir st&"" online. T$e' are 3ettin3 paid in +itcoin) ver' little costs. And t$ose people ill +ecome 'o&r c&stomers in t$e "&t&re. T$ose people) as t$e' make more mone') t$e' are 3oin3 to ant t$e same l&.&ries e $ave $ere. 4t 3oes &pstream) it $elps all o" &s. So 'ea$) 4m a3ainst 3overnment inter"erence it$ "inancial services. ST( T$e last line so&nded a +it like a +lanket statement. S$o&ldnt t$ere +e some limits) as an !SB) -o&ve 3ot to do =-#) 'o&ve 3ot to do A!L. >ont t$ose t$in3s serve a p&rposeK AS( -ea$ 4 t$ink t$ere are limits. /+vio&sl' no+od' ants to see $&man tra""ickin3) ille3al st&"") or terrorism activities. ,o+od' ants to see t$at. B&t 4 t$ink e need to take care"&l steps. !' compan' 02ip2ap) 4m $ere personall') not representin3 t$e compan') 4 can tell 'o& e do "&ll =-#. *e $ave to do it) +eca&se at t$e +e3innin3 $en e la&nc$ed) t$ere ere so man' people $o anted to &se o&r s'stem +eca&se it as cas$. *e $ad to do some =-# +&t e do it in a di""erent a'. -o&r privac' is not sold o&t to t$ird parties) 'o& are protected. So) t$ere are some +ene"its to a =-# e provide "or cas$ vers&s $at ma'+e credit card companies provide. T$e' reall' dont $ave t$e same level o" protection. /ne o" m' emplo'ees as sli3$tl' over ei3$t and +o&3$t a +ook online "rom Ama9on. *it$in da's) s$e started 3ettin3 o""ers "or diet pills and diet pro3rams. 4 mean) t$ats an invasion o" privac'. As lon3 as 'o& kno $en 'o& +&' t$ro&3$ 2ip2ap - e do a "&ll =-# on 'o& - t$at in"ormation is never s$ared it$ t$ird parties. 4t ma' 3ive 'o& a little +it o" more protection)

more com"ort 9one. ,ot$in3 is as 3ood as cas$. Here is anot$er pro+lem. -o& 3o to t$e store ri3$t no ) to an' 3rocer' store) and +&' a NJ00 AmE. 3i"tcard or a Aisa 3i"tcard) and never $ave to s$o 'o&r 4> or 3ive t$em 'o&r name and address or an't$in3. And 'o& can 3o +&' $&ndreds o" t$em and p&t t$em in a s&itcase and take it across t$e +order) an' $ere 'o& ant. B&t i" 'o& 3o t$ro&3$ o&r s'stem) 'o& $ave to provide 'o&r name and in"ormation. In"ort&natel') as 4 said) 4 am inside t$e s'stem) +&t 4 am $opin3 to ed&cate t$e +anks and ed&cate t$e 3overnment to c$an3e t$at. /ne o" t$e t$in3s) 4 dont kno i" an'+od' $eard a+o&t t$is ne anno&ncement last ni3$t) t$e >i3ital Asset Trans"er A&t$orit') >ATAK ST( T$ats t$e ne sel" -e3&lator' or3ani9ation. AS( An'+od' sa t$atK So) 4m pro&d to +e a "o&ndin3 mem+er o" t$at. T$ere is @J o" &s and e invited ever'+od' to 7oin. Basicall') it is a sel"-re3&lated or3ani9ation t$at e are "ormin3 so t$at e can re3&late o&rselves so t$at t$e 3overnment doesnt come and tell &s to re3&late. 4ts +een a s&ccess"&l model "or a lot o" ot$er ind&stries and e $ope to appl' it to emer3ent pa'ments. 4" 'o& 3&'s look&p S>ATA and 7oin &s - +eca&se e ant to reall' +e sel"re3&lated. *e ant to do t$e ri3$t t$in3s. *e can never 3et rid o" "ra&d and t$ose people $o do ille3al st&"". *e can 7&st p&s$ t$em some $ere else. !ake it di""ic&lt eno&3$ so t$e' 3o some $ere else. 4 tell 'o& 3&'s) t$e vision "or Bitcoin is 3oin3 to +e set in or3ani9ations like t$is and con"erences like t$is. 4 as involved in t$e e+ $en e "irst started in t$e @CCs) $en it +ecame commerciali9ed. 4 can tell 'o& i" %e"" Be9os and (Mavin) Andresen and ot$ers t$o&3$t a+o&t t$e e+) t$e a' it as in t$ose da's) $ere it as all porn and 3am+lin3 - e o&ld $ave never $ad an internet. T$e' $ad a di""erent vision. T$e' sa $ere e are 3oin3 and t$e' +ro&3$t &s alon3 it$ t$em. And 4 t$ink e need to do t$e same t$in3 as leaders and trail+la9ers in t$is ind&str'. *e need a vision. *$ere do e ant Bitcoin to 3oK T$ere is so m&c$ 3ood t$at can come "rom Bitcoin. Billions o" people aro&nd t$e orld can $ave +etter economics and +etter $ealt$ +eca&se t$e' are makin3 mone'. T$e' can +ecome cons&mers. T$e' can +ene"it "rom all t$e t$in3s e $ave $ere. T$ats $ere e s$o&ld +e takin3 t$is t$in3) rat$er t$an stompin3 o&r "eet on t$e 3ro&nd and sa'in3 e $ave to $ave anon'mit'. So) t$ere is a +alance t$ere. T$ats t$e +alance 4 3&ess e are de+atin3 at t$is con"erence. %!( -o& kno ) $en 'o& mention invasions o" privac') it reminds me o" $at ;T$e 1reedom o" t$e Press: released last mont$. 4t talks a+o&t 7o&rnalists. Last mont$) 'o& 3&'s released 'o&r $itepaper t$at spoke on all t$e t$in3s 'o& co&ld do to protect 'o&rsel" "rom t$e most onero&s o" a3encies) t$e ,SA . #o&ld 'o& talk a little +it a+o&t t$atK -Beca&se 4 7&st t$o&3$t t$at) as it relates to 7o&rnalism) t$at its a "ascinatin3 disc&ssion. TT( 4Bm s&re most o" 'o& $ave seen t$e ne s in t$e last mont$ o" t$e ,SA and $o t$e' $ave +een trackin3 t$e p$one call records o" prett' m&c$ ever' American) $et$er 'o& $ave Aeri9on) or ATTT. or Sprint) or $atever cell p$one service. And o"ten times) $en 'o& are comm&nicatin3 overseas it$ an'+od') t$e' are also scoopin3 &p t$ose comm&nications it$o&t a arrant as ell. So) e rote a $itepaper a+o&t encr'ption and $o it can ork i" &sed properl'. In"ort&natel') it is still ver' $ard to &se "rom a 7&st an ordinar' &ser perspective and it takes to time set &p. Sometimes) it is cl&nk' and t$ere is 5&irks to it) +&t i" 'o& can "i3&re it o&t it provides a sense o" privac' t$at "e services do and so e tried to rite o&r 3&ide - 'o& can 3o see it at press"reedom"o&ndation.or3 - e rote it in t$e respect t$at e ant $istle+lo ers and 7o&rnalists to +e a+le to &se it to comm&nicate it$ t$eir so&rces) +&t it +asicall' can +e &sed +' an'+od'. *e tr' to rite it in as matter-o"-"act lan3&a3e as possi+le so 'o& dont $ave to +e a comp&ter e.pert to &nderstand it. 4tll de"initel' take 'o& a 3ood $o&r to 3et t$ro&3$ and set &p) +&t $ope"&ll' it can provide some

a' "or ordinar' people to start comm&nicatin3 more privatel' in t$is a3e $ere it seems not onl' t$e IS 3overnment) +&t 3overnments "rom aro&nd t$e orld) are increasin3 t$eir s&rveillance capa+ilities $en it comes to t$e internet. %!( 4 o&ld like to mention 4 am reall' 3ood on action steps. So) i" an'one o&ld like to kno more a+o&t t$at) m'sel" and %onat$an *arren) $o is sittin3 +ack in t$e corner) $o is t$e creator o" Bit!essa3e) i" 'o& 3&'s $ave $eard o" it +e"ore. *ell +e doin3 orks$ops on it "or 7o&rnalists. So) i" 'o& are a +lo33er or i" 'o& are a traditional 7o&rnalist) please come see me. *e are not 3oin3 to c$ar3e "or t$em. *e 7&st need a space. 4" 'o& is$ to vol&nteer) please do. *e ant to 7&st start teac$in3 7o&rnalists $o to &se $at t$e 01reedom o" t$e Press 1o&ndation $as made. So&rce protection is inte3ral to a "&nctionin3 societ'. *e invite all o" 'o& to come and learn $o to act&all' &se t$ese t$in3s in 'o&r dail' li"e. ST( An interestin3 t$in3 a+o&t Bit!essa3e is t$at its &sin3 t$e Bitcoin tec$nolo3') +&t its "or a non-"inancial &se. %!( Fi3$t) ri3$t. T$e t$in3 a+o&t Bit!essa3e and $en it comes to alternative c&rrencies is $at makes Bitcoin so cool is t$at it solves t$e pro+lem o" $o to $ave a t$ird-part' ar+itrator $en t$ere is 9ero tr&st in a s'stem. T$at can +e applied to a lot o" t$in3s t$at arent mone'. 4n Bit!essa3e) 'o& are seein3 a sol&tion $ere t$at is resolved it$ comm&nication. 4ts not mone') its comm&nication) +&t its a reall' po er"&l tool to disc&ss it$ some+od' and $ave not onl' t$e conversations $idden) +&t t$e meta data t$at t$e 3overnment decides t$at t$e' need no le3al standin3 in order to 3et "rom 'o&) it $ides t$at as ell. So) its a ver' interestin3 sol&tion to t$at pro+lem) $o to comm&nicate it$ privac'. ST( 4 ant to open &p to 5&estions "rom t$e a&dience in 7&st a min&te. T$eres one more t$in3 4 ant to "ollo it$ Trevor. T$e !annin3 verdict is comin3 o&t toda'. -o& mentioned earlier) its not ille3al to donate to *ikileaks. 4" it is decided t$at $e aided t$e enem' in t$is case) ill t$at c$an3eK *ill it +ecome de "acto ille3alK 4s t$ere a risk o" t$atK TT( 4 certainl' dont t$ink so. 4 mean) i" !annin3 aided t$e enem' t$at means t$e ,e -ork Times aided t$e enem') as ell as *ikileaks. Back $en *ikileaks started p&+lis$in3 all t$is in"ormation) t$e' ere s$arin3 it it$ ne spapers aro&nd t$e 3lo+e) incl&din3 t$e most distin3&is$ed ne spaper in t$is co&ntr'. T$e' $ave also $ad partners$ips alon3 t$e a's it$ t$e *as$in3ton Post) !c#latc$')0T$e M&ardian) all sorts o" respected papers. T$e t$in3 is t$at t$is 0aidin3 t$e enem' c$ar3e is ver' scar' $en it comes to Bradle' !annin3. T$e 3overnment is essentiall' ar3&in3 t$at) even t$o&3$ Bradle' !annin3 never $ad t$e intent to aid t$e enem') it as al a's $is intention to in"orm t$e p&+lic. T$e "act t$at t$e' cant prove t$at t$is in"ormation ever $armed t$e IS) even t$o&3$ +ot$ o" t$ose are tr&e and t$e prosec&tion admits it) t$e' are sa'in3 t$at 7&st +eca&se in"ormation as posted on t$e 4nternet and Al-Haida potentiall' $as an internet connection) t$at $e is t$ere"ore 3&ilt' o" a capital crime. T$at $as $&3e implications "or $et$er or not 'o& +elieve Bradle' !annin3 is a $istle+lo er) $et$er some+od' is 3ivin3 $&ndreds o" t$o&sands o" doc&ments or 7&st talkin3 to a reporter or postin3 somet$in3 on 1ace+ook or T itter. T$ese are t$e t'pes o" iss&es t$at are 3oin3 to crop &p a3ain and a3ain. 4 t$ink +ot$ %onat$an and Step$anie mentioned $o intermediaries matter even more ever' da') and t$at it seems t$at t$e "irst amendment matters less and less. T$is is tr&e +eca&se a lot o" times t$e 3overnment doesnt $ave censors$ip po er +&t companies $ave e.traordinar' po er. T$e la pro"essor) %e""re' Fosen) talks a+o&t $o t$e c$ie" decision-makers at Moo3le and 1ace+ook are act&all' more po er"&l t$an an' %&stice o" t$e S&preme #o&rt +eca&se t$e' alone $ave t$e po er to decide

$at 3ets posted on t$eir sites t$at ever'+od' &ses and $at doesnt. T$e same can +e said "or t$ese "inancial intermediaries. T$at reall' 3oes to t$e $eart o" $' Bitcoin is so important. *$at $appened to *ikileaks $as $appened to ot$er or3ani9ations. T$ere are co&ntless e.amples o" erotic +ooks t$at $ave +een c&t o"" "rom Pa'pal. %&st recentl') it as reported t$at AP, providers ere startin3 to 3et c&t o"" +' !astercard and Aisa. T$e 3overnment even tried to codi"' t$is tec$ni5&e. 4m s&re a lot o" 'o& remem+er t$e Stop /nline Pirac' Act in ?0@@) $ere t$is act as s&pposed to stop people "rom do nloadin3 ille3al movies and m&sic +&t o&ldve censored +road s at$s o" t$e 4nternet. T$e a' t$e' ere 3oin3 to do t$at as +' c&ttin3 o"" "inancial intermediaries. People t$at took advertisin3 in !astercard) Aisa and Pa'pal. T$is is an iss&e t$at ill keep 3ro in3. Hope"&ll') Bitcoin can act as kind o" a +ackstop a3ainst t$at. ST( 4 t$ink it is time to take 5&estions "rom t$e a&dience. 4ve 3ot a microp$one) so 7&st raise 'o&r $and and 4 ill come aro&nd and +rin3 'o& t$e microp$one. >oes an'+od' $ave a 5&estionK -ep) $ere e 3o. Lets tr' to 3et t$is over $ere) ma'+e 'o& can $elp me $and itK A&dience mem+er( Hi) 4m %aco+ Eliso"". 4m reall' 7&st an interested citi9en. 4 $ave a 5&estion) especiall' a+o&t $at !ic$ael as sa'in3) a+o&t $o t$ere $ave to +e some limits. So) "or e.ample) i" "reedom o" speec$) it$ all its $istor' o" protection and t$ere as t$is iss&e t$at 'o& s$o&ldnt $ave t$e ri3$t to stand &p in a cro ded t$eater and 'ell 01ire. 4m s&re t$ere are a lot o" people in t$is room) 4m 3oin3 o&t on a lim+) $o t$ink t$at "reedom o" e.pression and "reedom o" "inancial transactions is +roadl' a 3ood t$in3. 4 o&ld love to $ear some e.amples o" speci"ic t$in3s t$at 'o& t$ink t$at co&ld +e "orms o" e.pression t$at co&ld +e ena+led +' Bitcoin) t$at s$o&ld not +e) and $at mec$anisms) $at tec$ni5&es co&ld +e &sed to prevent t$at. Beca&se ot$er ise it o&ld reall' soil t$e name o" t$e tec$nolo3'. TT( 4 7&st ant to 7&mp in reall' 5&ick) and 4 ill let ever'one else respond. Beca&se it is t$e second time "or t$is analo3' t$at it is ille3al to 'ell 0"ire in a cro ded t$eater. 4 7&st ant to sa' $o terri+le t$at analo3' is. 4t as ritten +ack in @C@D and it as) in one o" t$e orst cases) "irst amendment ise) in S&preme #o&rt $istor'. Basicall') t$e' 3ave someone a ten 'ear 7ail sentence "or ritin3 mild anti- ar literat&re t$at +asicall' said ;stand &p "or 'o&r ri3$ts and oppose to *orld *ar 4:. T$e analo3' $ic$ is) 7&st as 'o& cant 'ell ;1ire: in a cro ded t$eater) 'o& cant create pamp$lets t$at critici9e t$e 3overnment. T$is case as overt&rned over G0 'ears a3o) and anot$er case t$at dealt it$ tr&e incitement o" violence) $ic$ is still ille3al. -o& 7&st $ave to prove certain steps) $et$er it is 3oin3 to +e imminent and $et$er 'o& are directl' incitin3 it. T$ere is all sorts o" protection +&ilt into t$e la t$at protect citi9ens "rom t$is t'pe o" direct incitement o" speec$) +&t not necessaril' 'ellin3 ;"ire: in a cro ded t$eater. T$at $as never act&all' +een decided +' an' sort o" co&rt. B&t) o" co&rse) t$ere are a's t$at spendin3 mone' can +e ille3al "or e.ample material s&pport o" terrorism. T$e S&preme #o&rt &p$eld t$e decision 7&st a co&ple o" 'ears a3o) talkin3 a+o&t $o t$ose t'pes o" transactions are ille3al. 4" an'one else ants to 7&mp L. !T( T$e slipper' slope orks +ot$ a's. Even t$o&3$ t$ere are t$in3s t$at anon'mo&s &se o" +itcoins $ave in t$e past ena+led) like SilkFoad) t$e 4nternet itsel" $as ena+led t$in3s and) as 'o& $ave mentioned) cas$. #as$ $as +een &sed "or t$e vast ma7orit' o" ille3al transactions and 'et) e dont 3o and p&t scannin3 devices on ever' dollar +ill) $ic$ e co&ld i" e decided t$at it as a priorit'. Fecall all c&rrenc' in t$e Inited states) p&t on transmitter c$ips and) some $ere aro&nd t$e cost o" t$e A"3$anistan *ar) e co&ld $ave t$at. 4ts all a+o&t t$e slipper' slope 3oin3 in +ot$ directions. 4s it most important to make e $ave a @00 percent prosec&tion rate o" an't$in3 t$at t$e co&ntr' decides t$at s$o&ld +e ille3alK /r is it more

important t$at e $ave a @00 percent "reedomK ,eit$er o" one is 3oin3 to $appen. 4ts &p to t$e votin3 electorate to +asicall' sa') ; $ere do e sort o" ant to dra t$e lineK: and t$en 'o& re3&late aro&nd t$at line. AS( *$at as 'o&r 5&estionK *$at t'pe o" activities 'o& can &se +itcoin "or t$ats ille3al) t$at s$o&ld +e stoppedK 4s t$at 'o&r 5&estionK 1irst o" all) 4 t$ink t$e idea o" 3ettin3 rid o" t$e c&rrenc' all to3et$er and c$an3in3 it to +itcoin is a 3ood idea. T$is is di3itali9ed. 4t co&ld +e tracked. 4t co&ld +e monitored in a a' to avoid t$ose kind o" ille3al activities. 4m not advocatin3 t$at) +&t i" t$ats $at t$e 3overnment ants to do) t$ats a +etter a' to do it. -o& can +&' a lot o" ille3al st&"" it$ cas$. -o& can +&' a lot o" ille3al st&"" it$ +itcoin. -o& can +&') as 4 mentioned) it$ AmE. prepaid cards. 4s t$at reall' t$e a' "or &s to "i3$t crimeK 4 kno its pop&lar in t$e movies to sa' ;"ollo t$e mone'): +&t is t$at t$e onl' a' "or la en"orcement to catc$ t$e crooksK As 4 mentioned earlier) it is +etter to step +ack and look at crime +e"ore it $appens. 4m not talkin3 a+o&t t$at movie) 0!inorit' Feport) +&t 4m talkin3 a+o&t 'o& can see ot$er si3ns o" potential terrorism activities) ot$er si3ns o" t$e t$in3s t$at la en"orcement s$o&ld +e "oc&sed on rat$er t$an 7&st t$e "inancial an3le. ST( Proper detective ork instead o" collectin3 it all) in ot$er ords. AS( B' t$e a') Bitcoin is not 7&st a+o&t c&rrenc'. 4m 3oin3 to $ave a speec$ later t$is a"ternoon t$at talks a+o&t opport&nities in Bitcoin. T$ere are so man' ot$er cool "eat&res +&ilt into t$e plat"orm t$at 'o& can &tili9e "or 4> veri"ication) "or escro services) "or a ton o" ot$er st&"". %&st +esides t$e c&rrenc' aspect) an' one o" t$ose ideas are revol&tionar'. Bitcoin is $ere to sta'. T$ere is a lot o" potential +e$ind it. !illions o" dollar investments are comin3 into it. 4 t$ink e s$o&ld "ind a a' to &se t$e 3ood "eat&res o" Bitcoin and not "oc&s so m&c$ on t$e ne3ative t$in3s people do) +eca&se t$e' do t$at it$ cas$ an' a'. -o&re not 3oin3 to c$an3e peoples +e$avior 7&st +eca&se 'o& c$an3e t$e met$od o" c&rrenc'. ST( %&st to +e clear) Alan said 0escro services) not 0escort services. 8la&3$ter in t$e a&dience8 !T( -o& kno ) t$ere as a sa'in3 in t$e earl' da's o" t$e 4nternet t$at t$e 4nternet vie s censors$ip as dama3e and ro&tes aro&nd it. 4 t$ink) at least on a tec$nolo3ical perspective) Bitcoin is t$e same a'. Ho ever) t$at didnt stop t$e 3overnment "rom comin3 in it$ PF4S! and still lookin3 at ever'ones email. Same t$in3 $ere. Movernments can still 3o) dependin3 on $o $ard t$e' ant to tr') and s$&t do n an't$in3. 4n t$e earl' part o" t$e last cent&r') t$e' con"iscated all t$e 3old and made it ille3al to o n and t$en p&t it in 1ort =no.. A lot o" people "or3et t$at. 4n T$ailand) 7&st 'esterda') t$e' +asicall' made it ille3al to +&') sell) or even trans"er) person-to-person) +itcoins +&t t$ats also an area t$at F'an "rom Trade$ill) $oll +e on t$e ne.t panel - pro+a+l' ill talk a+o&t t$is a little +it more. *e ere c$attin3 +e"ore t$e session. T$ats one o" t$e most oppressive places in t$e orld in terms o" micro transactions +ein3 ille3al. *$en 'o& $ave a n&m+er o" places t$at) +asicall' t$e +ank is t$e 3overnment) t$ose are t$e ones $o are 3oin3 to +e t$e most restrictive. T$e least restrictive are places like =en'a) $ere !-Pesa is "lo&ris$in3. ST( *e are almost o&t o" time. Step$anie) 'o& look like 'o& anted to pipe in it$ a comment.

S!( %&st reall' 5&ick - 4 t$ink to 'o&r 5&estion its reall' important to dra a distinction +et een identi"'in3 $at t$e act&al crime is and potential ot$er t$in3s t$at mi3$t +e related to it) like a "inancial transaction. To me) a crime is somet$in3 t$at $as a victim) t$at $arms some+od'. So) "or instance) i" some+od' +&'s dr&3s it$ cas$ or i" some+od' +&'s dr&3s on t$e SilkFoad it$ +itcoins) or $atever) 4 dont see t$e crime t$at $as +een committed +eca&se 4 dont see a victim. /" co&rse i" its possession or personal &se or $atever. ,o i" it is $&man tra""ickin3) 'ea$) t$at $as a victim) and t$at o&ld +e t$e crime. T$e act o" tra""ickin3 a $&man +ein3 and &sin3 t$em "or $atever ne"ario&s p&rposes. ,ot t$e movin3 mone' aro&nd in order to accomplis$ t$at. 4 t$ink e $ave to "oc&s on $at t$e act&al crime is and ;does it $ave a victim.: AS( T$e ar on dr&3s is anot$er e.ample o" t$e 3overnment not 3ettin3 it ri3$t. T$e ar on dr&3s is a ar on poor people and minorities. T$at is $at t$e o&tcome o" ar on dr&3s is. T$e PF4S! t$in3 t$at 'o& mentioned is interestin3) +eca&se e are sp'in3 on ever'+od' in t$e orld 7&st to catc$ a small percenta3e t$at are doin3 ille3al activities. T$e lo3ic is ver' mind +lo in3. 4ma3ine i" 'o& $ad to 3o t$ro&3$ a +od' searc$ ever' time 'o& ent 3rocer' s$oppin3 +eca&se o" s$opli"ters. -o& cant live like t$at. T$ats not t$e li"est'leL. 4 didnt leave 4ran to come $ere in order to +e +od' searc$ed $en 4 3o 3rocer' s$oppin3) and to $ave m' email spied on. 4 t$ink e need to dra t$ose +o&ndaries and not let t$e 3overnment 3o so "ar. 4 a3ree t$at e s$o&ld tr' to "ind t$e people t$at 3et $armed +' t$is) and tr' to $elp t$em) and avoid t$e crime) +&t t$e a' to do t$is is not to sp' on ever' $&man +ein3 on t$e planet. %!( And t$e p$ilosop$er in me ants to sa'( ;#ompared to $atK: *$en e are lookin3 at dollar denominated crime 7&st look at $at t$e SilkFoad $as done. Even in t$e orst-case scenario o" +&'in3 dr&3s "or personal cons&mption) e are seein3 over J0 million dollars in retail dr&3s sales in t$e SilkFoad in over t o 'ears. and s$o me one case o" violence t$at $as $appened. ,o take dollar transactions. S$o me J0 million dollars in retail dr&3s transactions t$at occ&rred in dollars) and 4 3&arantee 'o& t$ere are si3ni"icantl' more violence t$at $as occ&rred t$an 9ero. 4 am not advocatin3 crime +ein3 &sed it$ Bitcoin. 4 am sa'in3 t$at ever't$in3 is relative to $at its replacin3. 4" 'o& look at t$e &sed cases "or Bitcoin) even in criminal acts) 'o&re seein3 si3ni"icantl' less violence in its &se t$an it is it$ t$e c&rrent s'stem t$at e.ists it$ t$e dollar. ST( 4 am a"raid t$at e are 3oin3 to rap it &p +&t t$is $as +een an a esome panel. 4d love to contin&e t$is disc&ssion. T$anks ever'oneO ABL( T$anks "or listenin3 to t$is portion o" o&r special Lets Talk Bitcoin con"erence covera3e. Bi3 t$anks to !ediaBistro "or p&ttin3 on a onder"&l event at 4nside Bitcoins. Sta' t&ned "or more to come over t$e co&rse o" A&3&st. 4" 'o& $ave an' 5&estions or comments "or me directl' 'o& can email adamUletstalk+itcoin.com. 4" 'o& $ave 5&estions) comments or topic s&33estions directed at t$e s$o +roadl') please visit letstalk+itcoin.com6reddit. T$anks "or listenin3.