5 key takeaways from Glenn's special show on Bitcoin

If you've been listening to the show for the past week, one thing is abundantly clear: Glenn knows almost nothing about how Bitcoin works. And to be honest, neither do the rest of us on the team. So Glenn and his EP Tiffany put together a special show where experts explained exactly what Bitcoin was and how it works. Elizabeth Ploshay, a Bitcoin Foundation board member, Jeffrey Tucker of Liberty.me, and Kristov Atlas, the author of Anonymous Bitcoin, all joined Glenn for this special Bitcoin episode.

Before you get started, here is a quick Bitcoin tutorial:

So what were some of the key points from tonight's show?

1) Acceptance of Bitcoin is rapidly expanding

Bitcoin is now an acceptable form of payment at 60,000 merchants worldwide, 50,000 of those added in one year. Glenn said: "I will tell you I love the innovation of it. People are trying to find a way out of the mess politicians and the central banks have created. The free market always wins. Big government can rack their brains all day long, and they will never, ever, ever, be able to duplicate the innovative spirit of the collective American public. One guy has an idea, and it starts like a grass fire."

2) It’s both a currency and a payment system.

Jeffrey Tucker:  If you took away the payment system associated with Bitcoin, Bitcoin would be worth zero right now.  It’s the payment network that gives it value.  It’s both a currency and a payment system.  That’s a little strange.  We’re used to thinking of those things as separate.  You know, we think of like dollars, and then we think of like PayPal or something or Visa, MasterCard.  With Bitcoin, they’re both united.  Payment system and the currency are one single thing, and it’s the sheer efficacy and brilliance of the payment system that led Bitcoin to have value.

Bitcoin lived on the Internet for ten months at a zero price, and it was only once the payment system was tested and tested and tested again, the market said this is extremely cool, this is amazing.  You can transfer stuff from here to there, anywhere in the world, direct peer to peer.  That’s a valuable thing to have, and then it obtained value. 

3) You can actually use it to buy stuff in the real world

Elizabeth Ploshay: You can use Bitcoin for so many things.  You can use it to buy plane tickets.  You can buy food with it.  You can use it for charitable donations.  The best thing about it is you can reach people around the world.  There are 2.5 billion people around the world who don’t have bank accounts.  You can send money to those individuals without a bank account, so practical things but also helping people in need.

4) There are no central banks like The Federal Reserve

Elizabeth Ploshay: Trustless peer-to-peer system, direct transfer of funds, no trust in one central point of failure.

Kristov Atlas: When it’s centralized, when we have the government or some company doing it, then things are easy.  They can mint the units of currency.  They can validate the transactions are not fraudulent.  When you have a peer-to-peer basis, then you have to make sure that enough honest people are able to do all the stuff that the system is going to work, and that’s the genius of Bitcoin is they figured out ways for people to validate these transactions and to mint the new coins in a fair way that everyone is going to agree on and that’s going to be predictable in the future.

5) It has a limited supply

Kristov:  There’s social and economic forces at play basically.  So if you wanted to change this limit, there’s about 21 million Bitcoins that are supposed to ever be in existence, and we’ll get to that point, we’ll be mined out of Bitcoins somewhere around the year 2140.  If you wanted to change that, you would have to convince all these people running Bitcoin software that they need to agree to this change, they need to run a new version of Bitcoin based on changing this $21 million limit. 

But we know that investors all value Bitcoins based on everyone agreeing that there is this $21 million limit.  If you try to extend that, it’s going to debase their investment.  Investors are going to dump their Bitcoins right away.  They want to get out of it.  Everyone knows this, and so there’s no way you’re going to convince people to switch over to this new version.

More in the interview below:

Time after time, Americans have taken to the streets to defend our constitutional rights, whether it was our livelihood at stake -- or our lives. But, what was the point of all the civil rights movements that came before, if we're about to let the government take our rights away now?

On his Wednesday night special, Glenn Beck argued that Americans are tired of having our rights trampled by "tyrannical" leaders from state and local governments who are ignoring our unalienable rights during this pandemic.

"Our nanny state has gone too far. The men and women in office -- the ones closest to our communities, our towns, our cities -- are now taking advantage of our fear," Glenn said. "Like our brothers and sisters of the past, we need to start making the decisions that will put our destiny, and our children's destiny, back into our hands."

It took less than two months of the coronavirus tyranny to make America unrecognizable, but some Americans are fighting back, risking losing their jobs and businesses or even jail time, as they battle to take back our civil rights.

Here are just a few of their stories:

After New Jersey's Atilis Gym reopened in defiance of the governor's executive order, the Department of Health shut them down for "posing a threat to the public health." Co-owner Ian Smith says somebody sabotaged the gym's toilets with enire rolls of paper to create the public health "threat."

Oregon Salon owner, Lindsey Graham, was fined $14 thousand for reopening. She said she was visited by numerous government organizations, including Child Protective Services, in what she believes are bullying tactics straight from the governor's office.

77-year-old Michigan barber, Karl Manke, refused to close his shop even when facing arrest. "I couldn't go another 30 days without an income," he said. But when local police refused to arrest him, Gov. Gretchen Whitmer's (D) office suspending his business license instead.

Port of Seattle police officer Greg Anderson was suspended after he spoke out against enforcing what he called "tyrannical orders" imposed amid coronavirus lockdowns.

Kentucky mother-of-seven, Mary Sabbatino, found herself under investigation for alleged child abuse after breaking social distancing rules at a bank. After a social worker from child protective services determined there was no sign of abuse, he still sought to investigate why the Sabbatino's are homeschooling, and how they can give "adequate attention to that many children."

Dallas salon owner Shelley Luther was sentenced to seven days in jail after she defied the state-mandated stay-at-home orders to reopen her business.

Watch the video clip from Glenn's special below:


Watch the full special on BlazeTV YouTube here.

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It took less than two months of the coronavirus tyranny to make America unrecognizable. Leaders from state and local governments across the U.S. have flattened the curve of some of our most basic constitutional rights, but some Americans are fighting back — and risking jail time or losing their businesses.

On Wednesday night's GBTV special, Glenn Beck argued that we're witnessing the birth of a new civil rights movement — and it's time to build a coalition of common sense to keep America as we know it free.

Watch the full special below:

Use code GLENN to save $10 on one year of BlazeTV.

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multiplatform network of voices who love America, defend the Constitution and live the American dream.

On the radio program Thursday, Glenn Beck sat down with chief researcher Jason Buttrill to go over two bombshell developments that have recently come to light regarding former Vice President Joe Biden's role in the 2016 dismissal of Ukrainian Prosecutor General Viktor Shokin.

"Wow! Two huge stories dropped within about 24 hours of each other," Jason began. He went on to explain that a court ruling in Ukraine has just prompted an "actual criminal investigation against Joe Biden in Ukraine."

This stunning development coincided with the release of leaked phone conversations, which took place in late 2015 and early 2016, allegedly among then-Vice President Biden, Secretary of State John Kerry, and Ukraine's former President Petro Poroshenko.

One of the audiotapes seems to confirm allegations of a quid pro quo between Biden and Poroshenko, with the later admitting that he asked Shokin to resign despite having no evidence of him "doing anything wrong" in exchange for a $1 billion loan guarantee.

"Poroshenko said, 'despite the fact that we didn't have any corruption charges on [Shokin], and we don't have any information about him doing something wrong, I asked him to resign,'" Jason explained. "But none of the Western media is pointing this out."

Watch the video below for more details:


Listen to the released audiotapes in full here.

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To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multiplatform network of voices who love America, defend the Constitution and live the American dream.

A recently declassified email, written by former National Security Adviser Susan Rice and sent herself on the day of President Donald Trump's inauguration, reveals the players involved in the origins of the Trump-Russia probe and "unmasking" of then-incoming National Security Adviser, Gen. Michael Flynn.

Rice's email details a meeting in the Oval Office on Jan 5, 2017, which included herself, former FBI Director James Comey, former Deputy Attorney General Sally Yates, former Vice President Joe Biden, and former President Barack Obama. Acting Director of National Intelligence, Richard Grenell, fully declassified the email recently amid President Trump's repeated references to "Obamagate" and claims that Obama "used his last weeks in office to target incoming officials and sabotage the new administration."

On Glenn Beck's Wednesday night special, Glenn broke down the details of Rice's email and discussed what they reveal about the Obama administration officials involved in the Russia investigation's origins.

Watch the video clip below: