Michael Terpin

you know, the premium that you were paying for periods of times in, say, Korea, they call it the kimchi premium.

You know, there was a time where you could buy in Canada and sell in Korea or in China and make like a 20% spread.

Right?

And so, but the only people who were able to take advantage of it were ones who were dual citizens of, say, Canada and China.

Right.

Because they would have both bank accounts.

Tether took away that arbitrage and it basically made it to you just simply, you know, exchange it on any exchange for a U.S.

dollar denominated coin, not have to deal with the banking system.

That was one of the whole purposes of Bitcoin was to not have to deal with the banking system.

The white paper was written, you know, right at the height of the financial crash in, you know, October of 2008.

You know, the early people in any technology want something different than the mainstream.

If you ask the, you know, the degens that came in, the crypto anarchists, et cetera, they're like, no, this is to bring down the system.

This is to like get away from banks.

This is to collapse the governments.

This is to, you know, this is following the ethos of the cypherpunks.

And I have a whole chapter in the cypherpunks who, you know, were 30 years before the

creation of bitcoin but they sort of set the whole idea of that code allows you to go and have an entire economy that is separate from the state money and state were separated for millions of years or thousands of years as long as civilization's been around people had gold people had you know fur pelts they had they had seashells they weren't issued by the government gold is really what started then letting the government buy the gold and issue coins and then governments over time and

You know, there's a very good book that, you know, sold over a million copies that I mentioned a few times in my book, which is the Bitcoin Standard.

That's always number one on the on the Amazon list.

I have a hard time getting above number three because they're number one and they count Michael Lewis's books on FTX as being a Bitcoin book.