Jamie Loftus

And it's like 10 grand in the United States, something like that.

There's a variety of complicated factors.

Basically, there's a bunch of different laws around banking and who can and cannot hold accounts and execute trades in those areas that leads to this premium.

Because like normally if a premium like that, if the markets were kind of accessible to each other, if Bitcoin's worth 15 grand in Asia and 10 grand in the U.S., then you buy Bitcoin in the U.S.

and you sell it in Asia and you get free money.

Right.

Very obvious.

If you can, but you can't do that because you can't get access to the, as an American, you can't like get a Chinese account in order to buy Bitcoin there, right?

Or a Korean account or a Japanese account.

There's all these laws.

No.

You can't you cannot do that.

And no one can figure out how to do it, how as a Westerner to sell Bitcoin over in these parts of Asia and get that premium.

Right.

And like just get a bunch of free cash.

Sam figures out a way to do it, which is basically like picking up a pile of free money.

Right.

If you're buying Bitcoin for 10 grand and other people want to pay 15 grand for it, you're just making cash.

Right.

And primarily the way he does that is through friends in the effective altruism community who are like placed in banks and stuff over in Asia who like help him figure out how to do this.