Yo, today is December, 19. 20 22, welcome to Simply Bitcoin
live. We are your number one source
for the peaceful Bitcoin Revolution color, breaking news
culture me, Matic Warfare, we will be your guide through the
separation of money and stayed and that's exactly what we are
living through nowadays. Anyway, some really interesting
news, some this crazy article was dropped substantially out to
core eclipsed in and in the article it It basically makes
the case that Finance us doesn't have any Bitcoin act.
In fact, they send it to their international branch for that
was really fascinating and kind of connect this with how FTX did
their thing, right? FTX, you know, they weren't
registered in the united states allow US citizens for one
specific exchange. They, you know, they registered
in the Thomas, right? So it's most likely to attempt 2
attempt to, you know, evade us regulations.
We also have the news that came out the same week, I might add
that SPF was arrested that the doj was potentially
investigating Finance, 444 skirting AML, and kyc
regulation. So we're going to get into all
the details of that we brought all the receipts like we usually
do also, Very strong response by Cynthia lummis.
And she was responding to the bill that was introduced last
week by Senator Marshall, and Senator Elizabeth Warren, that
would basically outright ban Bitcoin, not directly and say
they're going to ban Bitcoin, but it would force open source
developers to register with the government.
And basically, ask the government for permission to
write code, which is like the most anti-American thing that
you can imagine. So we get, we're going to play
that for. You guys crazy, crazy, crazy day
Monday. Got to start strong.
But first, I want to introduce my legendary co-host.
Always optimistic, how you doing Opti?
It's Monday, Monday Monday. I think everyone's got a case of
the Monday's today but hey, we're here, we get to make
Bitcoin content so absolutely honored and humbled to be here
and Nico. You actually inspired today's
culture. I think it was Darth coin that
hip does to a mess. Image and our simply Bitcoin
Telegram and this is the one that hits close to heart.
So there's still a bunch of scammers out there guys.
Be aware and will cover it completely in the culture today
not only are the scammers running exchanges but the
scammers are running telegram groups and, you know,
impersonating people. So I'll tell you my little back
story and we'll go into what happened over the weekend and
how to protect yourself. How are ya?
Alright everybody, let's start the show.
We have a lot to cover. I'm really pumped.
The Bitcoin numbers brought to you by novel.
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Visit not L.E you today, All right, everybody at the time of
recording the Bitcoin price is 16,000 602.
SATs per dollar 6023 block height, 760 8104, reachable
Bitcoin nodes, 14850 two blocks of The Happening 70 1896 having
estimate April 25th 2024. Total lightning network
capacity. 5143, Bitcoin capacity value. 85 million u.s. dollars
realized monetary inflation Bitcoin.
Use to take government currency State currencies to Absolute
School. Bitcoin has the best incentives,
1.7 6% in the market capitalization of Bitcoin, is
that 319 billion dollars in the grand scheme of things.
Bitcoin is still a baby anyways. Anyways so I want to put you
guys this clip of Cynthia lummis.
Basically hitting back hitting back saying listen, listen to
FTX debacle, had nothing to do with Bitcoin.
Guys are using that as an excuse to justify this tyrannical.
Legislation that there that Elizabeth, Warren and Senator
Marshall are trying to push through.
So, I'm glad we had the Bitcoin Senator on our side, fighting
the good fight. I want to say one last thing
about this regulation that they introduced, this regulation
would have not stopped and it would have not protected
investors in the FTX debacle. They're using this as a
justification to go after Bitcoin because Bitcoin ends the
party. If people have an alternative to
State money and that alternative provides better incentives.
People are naturally going to opt out and if people naturally
opt-out it ends the Racket. And what is the racket?
The racket is that the government the Tate has this
privilege of being able to create money for free that
everybody else has to work for and people.
Thanks for the Super Chat. I have to.
I'm sorry guys. This is part of the rules.
Vic says Super Chat, five dollars just found out my wife,
slept with Nico and Opti I'm devastated, but not going to
lie. I still watch simply because
we were asked to enable the YouTube super chats and we said
that every time someone gave us a Super Chat, we would stop what
we're doing and we would read the chat and I'm starting to
believe that might have not been a bad idea, a great idea, but
goddamn it vague. I was on a roll bro.
Okay. No, you ruined it, okay, time to
play the video and then we'll talk about it.
God damn it Vic. We're conflating topics today.
Digital assets are not on trial fraud, and organizations are on
trial. So, let's separate digital
assets from corrupt organizations.
Ft x as I've been saying for the last few weeks is good.
Old-fashioned fraud and what they did is separate from
digital assets. Now, we've all heard that FTX
lent, its Executives hundreds of millions of dollars in
commingled customer funds, for personal use and customers who
tried to wire money to FTX where instead given Alameda is routing
number. That is fraud, that's fraud
whether it's conducted in u.s. dollars or Euros or digital
assets that is fraud. Yeah.
And the Bitcoin, Senator Cynthia lummis, and you know what, you
know what, though she is a Bitcoin.
She said digital assets That does not leave a good taste in
my mouth so hey, you know, I guess Beggars.
Can't be choosers. It's something I think she is
fighting back. She's calling it for what it is.
And look what FTX did is exactly what the bankers in 2008.
Did it's exactly what Stanford did is exactly what Bernie
Madoff did. What does it have to do with
Bitcoin? It doesn't have to do with
Bitcoin. Like but holy cow.
Does it create a great excuse me?
Remember guys, don't be distracted.
They use the same excuse to go after the open source developer
of tornado cash, right? Which led inevitably to because
etherium is centralized it led to 60 to 70% of the etherium
validators today. Are actively censoring for the
office of foreign assets control, part of the US
Treasury, right? And what was the justification
that justification was that 10%? Of the tornado.
Cash software was being used supposedly to launder money for
the North Koreans right? So, Don't get distracted by the
strawman governments have a tendency of doing that.
Remember in The Help, The Help Americans act?
I'm I don't know. The, I don't know exactly what
the axe name was perhaps. Someone could help me in the
chat. They use that act, right?
Look at the wording of the ACT. They use that act to basically
install a rule where now you have to report $600.
Out of every transaction. If it's over $600, it has to be
reported to the IRS and then in the Patriot Act Right?
Literally called the Patriot Act, it took away a tremendous
amount of privacy and freedoms from Americans of which we never
got back and the Act was called the Patriot Act in the inflation
reduction act, right? What did they do?
They spent more money. More deficit spending which
fuels inflation, right? So don't get distracted.
It by the straw man and Elizabeth Warren is an
opportunist opportunities and she used what happened with FTX
to go after Bitcoin, not to protect investors.
Not to protect the little guy. That's the excuse.
That's the justification. It was because Bitcoin is a
threat to their Racket. And the racket is they have the
privilege to be able to create money for free that a Citizens
us. Peasants have to work for right
and Bitcoin provides a strong alternative to that, which has
much better incentives. And they know that if it was a
Fair competition, they know that it was a Fair competition
Bitcoin would annihilate the competition.
That's why they can make it fair.
That's why they're using the government's Monopoly on
violence. And the government's ability to
coerce in an attempt to at least slow down the adoption.
And that's exactly what it was. But thank God.
We have people on our side of the aisle that are fighting the
good fight and calling out Elizabeth Warren for the fraud
that she is for the lies and the Miss representations.
And that's exactly what the Bitcoin Senator did last week's
hearings. So don't have any Heroes and
Bitcoin completely agree to that, but shout out to Cynthia,
lummis, she did her job there. Anyways.
Opti, what are your thoughts? Well just to Echo, kind of what
you said. We've said it on the show a lot
that the FTX debacle and the similar things that we've seen
all year are going to be used as low-hanging fruit.
We I mean, I've joke in the past that we don't even have to read
or even listen to most of the Fudd and the skepticism and
criticism against Bitcoin, because they are usually using
the same as I like to call it low hanging fruit excuses, that
we're all criminals, that we're fostering money launderers, and
Terrorists and the like and you know I really do enjoy lummis
making a distinction between Bitcoin and shit coin because
there is a difference and I like how she put it.
You know, ft x is good old-fashioned fraud by
commingling their funds. Like you can't get much clearer
than this but this is something that we've touched on last week
when you know, I know opt he's using big words but when we
discussed the hegelian dialectic create a problem so you can
offer the solution and it's becoming clear to me that this
is exactly Politicians and Central bankers and you know the
people making cover over at Legacy Media are doing they at
one point made SBF be, the Wonder kid of something.
Someone doing something important in the quote unquote
crypto space And now since they got caught since it blew up in
their face. So so eloquently, they are now
using it as an excuse to try to regulate Bitcoin, to try to
regulate the whole Space. Because as we continuously tell
you guys on the show, they're afraid of Bitcoin because they
understand exactly. Exactly what Bitcoin will do to
them and to the Fiat standard that we live under.
I mean, remember what Christine Lagarde said in the past and we
continuously use that quote, if there's an exit route, people
will use it. So these people aren't dumb, you
know, we can say all you want about Elizabeth Warren, making
her noise and making her rounds and other politicians making the
round. But I'm fully convinced that
they are not in the need of Education, they are fearful and
this is why they try to Out and paint Bitcoin in such a way so
that they can win the hearts and minds of the masses out there
and confuse them again. They know that the majority of
people don't understand Bitcoin and so if they can get him in
front of it, with these clickbait headlines, then they
can try to control the narrative again, they have the Monopoly on
truth and so all they can do right now is try to paint
Bitcoin in such a way so that they scare people away from
Bitcoin and I'm just like Mica said, I'm glad that there's
people out there. That understand Bitcoin as we
understand, I mean, to what extent, you know, she did use
the digital asset framework or the meme, but I think that in
time we will get more people understanding Bitcoin, like we
understand. And this is kind of something
that Nico and I have been pushing for a while.
You know, we are in the race to avoid the war and the more
people that understand Bitcoin, the more people that are holding
Bitcoin the easier it is for us to win and we will win.
And it's just a matter of time, and it's a matter of making it
through all these obstacles and, and land mines out there because
they do not want us to succeed. So, someone just said you give
them far too much credit. Yes.
I understand some of the politicians and Central Bankers,
do not understand Bitcoin, but I think as my favorite politician,
Brad, Sherman would say, I think he fully understands the client
and I think it is one of those moments of what's the mean like,
You can't, you can't expect someone whose job it is to not
understand something to understand it.
And I think some of the people out there that are a part of the
banking system fully understand Bitcoin and they're doing their
best to, you know, explain Bitcoin in such a way, so that
they Gaslight the masses out there, so that they do not find
that exit door just my two cents.
Absolutely. 100% a I see her, I see someone saying clickbait.
Nah man, we're going to talk about it during the new segment
we got you. This is the Numbers man, these
the numbers the number segment, we usually react to videos if
you're new to the channel, that's how it works, right?
Speaking of videos, I have a video for you guys.
Anyways, let's get to the news as check it out.
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Want to be transparent, we want to set the golden standard for
reliability solidness in the space, right?
Would you be able to handle it? If somebody asks you for two
point 1 billion dollars back. Would that be okay?
Would you be able to still withstand things?
We're financially okay, including, why can't he just say
yes? Why can he say yes, what is
going on with Finance? Of course guys, you guys know,
we are a Bitcoin Maxi show so what we 84 is don't shit coin.
It's bad for you. Shout out, Jacob.
We advertise. Do we advertise now?
We advocate for dollar cost, averaging staying humble, stack,
and SATs, and if you've been doing that, none of this will
have affected you. But I think it really
highlights, you know the shit going Nuri coming from these
shit coin exchange. I think that interview that that
CZ did on on mainstream media where they asked him a very
direct question. Hey, if you know, It could, you
could you honor, the could you honor these withdrawal?
He's straight up. Just like like, yeah, we gotta
figure it out which I thought was very interesting anyway.
So let's get through some of the receipts.
Shall we buy Nancy's, the largest outflow of stable coins
in 24 hours while by Nance has recently gone through an
outpouring of stable coins and Ensign estimate, it still holds
about 30 billion dollars worth of stable coin.
So we're seeing record amount of outflows, people are spooked the
see, the rumors also, This is the memo that the by Nancy.
Oh, sent to the staffers. Let's check out some of his
wording, shall? We, it's not that long, but I
think it's important to to check out.
So he sent this all to his staff, you may have seen some of
the latest news regarding Finance, The Fallout from the
FTX implosion has brought has brought with it a lot of extra
scrutiny and tough questions. The good news is that even
though the news stories, don't always reflect it, we can
answer. The tough questions, throw
thrown out our business, okay? I want you to keep that in mind.
We want to be transparent, we want to set the golden standard
for reliability solidness in the space, right?
Would you be able to handle it? If somebody asks you for two
point 1 billion dollars back. Would that be okay?
Would you be able to still withstand things?
We're financially? Okay.
Yeah, that doesn't sound like a good response.
I'll read it again. The good news is that even
though the new stories don't always reflect it.
We can answer the tough tough question, thrown out of
business. Oh man, I disagree.
For example, I mean, it's not even that disagree, you Hurt
himself. You guys heard from the man
himself for example. Despite today's news regarding
withdraws, we are in a strong financial position.
We often process more than 1 billion in deposits or
withdrawals on a daily basis. Nothing unusual today, use your
assets and finance are all backed 121 and finances.
Capital structure is debt-free. We maintain hot wallet.
Balances to ensure that we always have more than enough
funds to fulfill withdrawal request and we top a pot wallet
balances accordingly with regard to contemporary halt.
Out of which draws of USD, see because we Auto convert US DC to
be USD in order to retain large liquidity, larger liquidity
pools, we generally regain USD, see deposits, or future
withdrawals. In today's case, many people
deposited be USD or USD T to withdraw us.
DC when this happens, we need to convert our current conversion
channels are clinically. We have to go through a bank and
New York and USD which is slow. We won't prove this going
forward, all that going on. We know that we are.
Doric moment in crypto, rest assured, this organization was
built to last as long as we continue to offer users.
The best product user experience and frictionless, trading
environment, Financial survive, any crypto winter, while we
expect the never over the next six months.
The next several months to be bumpy, we will get past this
challenging period and will be stronger for having been through
it. As always, I'm grateful to each
one. Each of you for your incredible
dedication and hard work and I'm proud of the incredible business
we've built together. Okay, so we kind of know already
in the beginning, kind of bullshit.
We played you guys the clip, literally to make the case for
that. Now, Cory Clips in, shout out,
shout out to him CEO of swan. Bitcoin Finance, u.s. does not
have your money. It turns out it probably exists
but it's held by by Nance International which is of course
an illegal run around of u.s. regulations.
Walls closing in on cz's, on Cece's Casino boy, great
reporting by Reuters. Now let's check out the article
that Corey was Referring to. Felt is by Nance dot u.
S-- a fake exchange billions and customer funds transfer digit
directly from Finance, u.s. to Offshore Finance exchange.
Is this just a ploy to trick Regulators in the final days of
the FTX collapse on Lookers, wondered about the solvency of
FTX US based exchange. FTX u.s.
FTX us was on stairs stairs ostensibly held at arm's length
from the parent exchange. FTX leadership insisted that
customers. Of the FTX u.s. division would
be safe, even if the parent company went under, however,
when the end came for FTX u.s. met the same fate freezing
customer withdraws and entering chapter 11 with the rest of the
FTX Almeida Network, despite despite being u.s. regulated and
theoretically, walled off from ft x ft x us was in really
little more than an extension of its offshore owner.
One might think that perhaps FTX us was really just a ploy to
trick. Us Regulators into focusing on
the smaller American company instead of turning attention to
the incoming Financial hurricane in the Bahamas.
It turns out that FTX was not the only offshore exchange to
create a US base in the regulated entity by Nance.
The world's largest exchange created by Nance dot u.s. in
early 2019 in response to regulatory pressure Finance.
Dot, U, s-- is described as a separate entity from finance
that was merely licensing. The name and certain features
from the main company Finance. . US based in Palo Alto is license
as a money service business in the United States note that it
is not difficult to obtain these licenses.
As we have previously shown in our expose of a network of fake
crypto exchanges based in Colorado.
However, shortly after the creation of binary and start
u.s. Forbes Magazine publisher report
claiming that they had received a leaked document where referred
to as the Tai Chi document. According to the document, the
by Nance u.s. exchange was a ploy to trick us regulators.
A focusing on the compliant local exchange while the parent
exchange went free to do its own business finance responded by
suing Forbes for defamation only to drop the lawsuit.
A few months later in February of this year by Nance tried a
different trick. They invested two hundred
million dollars in Forbes parent company if you can't beat them
by them. And remember, guys, the block
publication was also bought and paid for which was leaked, it
was bought and paid for By, who ft x.
So it looks like this is a common practice, right?
You can't sue them into shutting up, let's buy them.
And then, you know, the the they're not incentivized to
speaking truth and like something something really
interesting. Right?
Like again, I'm gonna play I'm gonna play you this clip once
again. Want to be transparent.
We want to set the golden standard for reliability
solidness in the Spectrum. Would you be able to handle it?
If somebody asks you for two point 1 billion dollars back.
Would that be okay? Would you be able to still with
standard things? We're financially?
Okay, so didn't answer the question.
He said that they want to be the golden standard, right?
They want you know, they want to be the standard for
transparency. But then they're also suing
Publications that are doing reporting on them expose is on
them, so I don't know, guys, you tell me, it sounds sounds
interesting. However, this reporting by
Forbes was corroborated by much. By much more detailed report by
Reuters in October 20, 22 with more sources and documents at
their disposal, Reuters found essentially what the Forbes
piece 3 years earlier suggested by now.
Ants us was designed to trick regulators and US customers.
It shows that in 28 hours. Also also known as CZ approved a
plan by loot, by lieutenants to insulate, by Nance from
scrutiny, by u.s. regular authorities by setting up a new
American Exchange. The new exchange would draw
Regulators attention away from the main platform by serving as
a regulatory inquiry Clearinghouse.
According to the proposal Executives went on to set the
plan in motion company messages show in public Zhou said, The
new u.s. exchange called by Nance dot U.
S-- was a fully independent entity in realities out
controlled by Nance dot U. S-- directing its management
from abroad according to regulatory Finance filings from
2020, a company messages and interviews with former team
members and advisor in a message to finance.
Executive described The u.s. Exchange as a de facto
substitute a subsidiary. So I mean I don't know, like How
much we have to prove to you guys how much we have to tell
you guys, not your keys, not your Bitcoin.
And another thing which is really interesting is that why
is it that the shit coin exchanges?
The, the fat not all of them, of course, but the two main ones,
whether it's FTX, whether it's easy, it's all lies and
misrepresentations man, CZ could not answer.
A very basic question and he and it's all marketing like we want
to be the most transparent exchange when they asked him.
Like, could you honor that withdraw?
Yeah, maybe. And then also, if you want to be
the most transparent, you're kind of doing this stuff behind
everybody's back so like I just It's not surprising to me, but I
think the overall message of this is again is is the the
gambling for the shit coins, right?
Then it is gambling which means that, you know, sometimes you're
going to flip a coin and you're going to get that side, right?
But Opti and I and most bitcoiners that could tell you
you shit coin and 99% of the time you will end up with less
Bitcoin than you had before. So is it worth it?
Is it Worth having that exposure and remember how they phrased it
in that article. Finance dot us was to give the
appearance, not only to Regulators but also American
citizens, that hey, you're safe here, you're protected by u.s.
regulations but what FDX showed is that even though it was
technically a separate company and in the beginning they said
that says SPF said that F DX dot U s-- was had Money.
Right? It all ended up to be a lie.
So by Nance dot us has no Bitcoin.
As soon as it's deposited to buy Nance dot u s.
It sent to buy Nance International where it's
completely out of the hands or out of the touch of us
regulators. And mind you, I'm not a fan of
bigger government. I'm not a not, if I'm a bit
corner, I'm not a fan of bigger government.
I'm not a fan of bigger bureaucracy.
I'm trying to make the case for you guys.
To stay away from shit coins because they're bad for you.
Stay humble Stacks at buy Bitcoin.
Earn Bitcoin mine Bitcoin. Take that Bitcoin into self
custody because you have no idea what they're doing behind the
curtain. You have no idea the facade
Finance dot. U s-- are you really you really
putting your faith? In those in the swamp of
Washington DC to protect you via regulations because those
regulations didn't help. But shit in 2008 US Millennials,
bro, we got fucked to be honest, we got fucked, they protect us
then only one Banker went to jail and you're still wanting to
put your trust in these people. Don't trust their fi.
Take Bitcoin into self custody, learn how to run your own node.
If you don't know if you don't want to build one you could buy
one not our sponsor freaking make great nodes buy Bitcoin
earn Bitcoin mine Bitcoin. Take that Bitcoin into self
custody forget about it, literally right down the seed
phrase and you could be watching while this whole thing implodes.
Maybe by Nance implodes, I have no idea.
Maybe it explodes. No idea.
But as a bit corner you will be watching from the sidelines with
your popcorn saying, huh, I can get cheaper Bitcoin now because
of this disaster that they caused and in everybody's going
to be freaking out like, bro, I left my left, my, my Bitcoin on
the exchange because I was trying to trade and I was trying
to increase my position. There is this fund by Travis
cling super reputable, it's called akagi Completely went
over under. Why?
Because he kept the majority of the assets that belong to the
fund on FTX and remember FTX had all the bells and whistles they
had Tom Brady that had mr. Wonderful you know who by Nance
just signed as a spokespeople Cristiano Ronaldo and Lionel
Messi Sounds very similar, doesn't it right?
So don't trust verify Finance dot.
U.s. does not have your Bitcoin. It's with the international
organization because it's out of the hands of The Regulators.
You saw it in the leaked documents yourself.
You saw how by Nance? First tried to sue for
defamation, when that didn't work, they try to by Forbes
themselves so that they wouldn't say anything.
Like the writing is on the wall and then this sack Of shit goes
on TV and tells you this. I'm going to play it one more
time, that's right. Want to be transparent, we want
to set the golden standard for reliability solidness in the
space, right? Would you be able to handle it?
If somebody asks you for two point 1 billion dollars back,
would that be okay? Would you be able to still
withstand two things we're financially?
Okay, including you have two point 1 billion dollars to give
away if somebody came to reclaim to Cloud that back you'd still
be fine. Whatever, lawyers handling are
fine. We are financially strong.
Well, let the lawyers handle it. So look I'll let you guys be the
judge. I made my case Opti.
What do you think? Well, excuse me.
I think the the meme in mind. Nothing is more official than
the official denial come to top of mine and just, you know, Just
seeing everything that sees he's doing obviously, we don't have
the full inside of what is actually going on with the
company, but just by the things he's saying and seemingly doing
it almost verbatim and identical to what happened when the FTX
explosion happened and I've said it before on the show, it's very
interesting that bindings knew exactly which strings to pull in
the FTX collapse. It's almost like they have
intimate, knowledge of the workings.
The company because they're probably doing it themselves.
So, funds not saw Foo. And again, guys, this is just
this just further to the idea that we tell you guys all the
time exchanges are not wallets. Do not keep Bitcoin on these
exchanges, especially shit coin casinos.
Because we understand how these companies make their money.
It is either by trading fees or, by rehypothecation your Bitcoin.
So if you want to take that chance yourself, you know, if
you want to risk your Bitcoin, then by all Means you know don't
take this PSA from Simply Bitcoin and trust that your
funds are self. Ooh.
But as we've seen historically in Bitcoin as more exchanges
blowing up continuously happening every couple of years
your best bet is just take Bitcoin into self custody you
don't know which company is trading paper.
Bitcoin in, which coin companies actually holding their coin one
to one, but if you have to trust versus verifying, then you are
Holy missing the plot. You want to take this Bitcoin
into self custody because that's the only way, you know you
actually own Bitcoin. So you know whether by Nance
actually has those assets. One, the one I wouldn't take
that risk myself and people are saying in the chat that that we
are misrepresenting. What's easy is saying, because
he was asked being asked, whether he would be giving back,
FTX is money to the customers that they came to them guys, we
fully understand this but this Still further to our point that
you shouldn't keep any Bitcoin on these exchanges.
I wouldn't be trusting by Nance they are one of the biggest shit
coin casinos out there so like you know if they are doing what
what they say they are in your taking them by your word.
Again you're trusting someone and this is the whole point of
Bitcoin do not trust these middlemen exchanges because you
don't have to opt out of this madness.
Take your Bitcoin into self custody, do it.
Now, before there is an actual bankrupt Bank Run on by now,
That's because you never know what is going to happen?
What do you mean? What do you mean?
Look, someone said double standard, double standard here
by Nancy is a private company. No one probed ft x or Sam for
their finances but a Chinese man comes in TV and you all want to
create a few crucify him. What does that have to do with
anything? What does it matter where?
He's from dude? What matters is like literally
we literally laid out the case for you.
Like the reality is guys if you have your money on by Nance
whether it's whether It's easy, whether it's SPF it is not your
money, it's their money and you're trusting them to give it
back back to you and what we're making the case for today,
right? Is not your keys, not your
Bitcoin, you don't have to trust someone else anymore, whether
that is whether that is CZ, whether that is by Nance,
whether that is FTX, whether that's a bank, Does it matter?
Look at the cases? Look, you want to put the whole,
you know, crypto shit coin industry aside.
Look at what just happened in Lebanon. people were literally
trying to get out their life savings, out of the bank's, they
shut them down saying no, we can't give that to you and the
lesson Remains the Same If it's not your keys, it's not yours.
You're trusting somebody else. Today, we made the case that
some very sketchy shit happened, and if you make the connections,
SBF did the same thing when he tried to buy the block to shut
up CZ. According to the report by very
reputable sources, Forbes and Reuters offered two hundred
million dollars to buy the parent company of Forbes.
Why wouldn't you do that? But to shut them up.
And on the video clip that we played for you guys, CZ
literally said, we want to be the gold standard of
transparency. Do you think that's the gold
standard of transparency when they're trying to buy out the
media sources to shut them up? Because the definitely the
defamation lawsuits didn't work. You can try me on the chat but
we're very firm in what we believe, not your keys, not your
Bitcoin and look. And if you are, you know,
gambling and whatever, and it's your money, you could do what
you want with it. What we're what we're trying to
do is we're making the case if it's not your keys, it's not
your Bitcoin. This not only applies to crypto
exchanges, this applies to Banks as well.
When you have the ology to store 12, distort millions, billions
theoretically trillions of dollars by writing down a 12
word seed phrase. Why the fuck would you not do
that? Why because you have short
taught you have short-term time preference you're thinking in
the short term think long term think about your family.
There's 21 million Bitcoins divided by Infinity the very
simple math problem. But of course, you know, you
could you can chase the short-term gains and get wrecked
in the process. But yeah, you can continue using
the distractions in the straw man and it's like, oh, it's
because this is because it's like no has nothing to do with
that. But hey, look, we say this all
the time, sometimes people just have to burn their finger on the
stove. They have to pay their price of
tuition. And that's the only way they
learn. Unfortunately, some people don't
want to do that. That's why exactly, when
bitcoiners Quarry clips. And also he was shouting it from
the rooftop that Celsius was a Scamp and he was getting the
same same shit that you're telling me right now.
Same shit. Oh no, what are you talking
about? Whatever and then it blew up and
then people lost their life savings.
You're talking about mothers grandmothers people that have
worked their entire life. I saved up.
To chase this six percent yield and they erect in the process,
bro. How dare you?
I'm literally tell I'm saying, take self custody because if
not, it's not yours. What in that isn't true?
Please let me know. Anyways Opti, let's get to,
let's get to the culture. Let's do it.
Let's go. The daily culture brought to you
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All right guys. Is we got this message and I
believe it was are simply Bitcoin telegram group.
And personally, man, this one hits close to home because I
remember experiencing this the same experience when I was green
and I was a noob and I was out here learning and you know when
you come into the Bitcoin space, there's one thing that you need
to learn and I think I still yet to cover it on the show.
Everyone is a scammer and everyone wants your Bitcoin so
trust. No one heh heh.
It's why we go so hard every single day.
Do not trust anyone with your Bitcoin.
Take back your, your personal responsibility on your money.
Take your Bitcoin into self custody, but this is a totally
different story. And I'm going to cover the,
what, what I have on the screen for you guys.
A little story time and then I'll go into my own little story
time and just talk about how I know this problem personally,
firsthand. So we got zombie node again.
I believe this was in are simply Bitcoin telegram group, go check
it out, a bunch of cool bits. Winners in there and he goes the
problem I had was not having a Bitcoin log file and not getting
electrum rust to sing. I asked for help with this.
In a couple different groups, including this one.
I took it upon myself to try to fix but did not look very hard
for documentation. I tried changing the Bitcoin
core 22.0 after doing this. It looked like closing.
My lightning channels was not confirming on chain I then was
panicking and asked the group for help again which is when the
scammers started contacting me, the one I chose to work with had
a Profile name of open Noms. I was told I have to send
Bitcoin on chain to them so they can synchronize the versions of
Bitcoin core on my Note, and actually allow my transactions
to confirm on chain this seem to actually work as I saw my
transaction from my node confirmed but then they came
kept asking for more funds to finalize to sing.
And yes, I sent more funds on chain multiple times.
I was having a hard time finding documentation on changing
Bitcoin core and I was worrying about my channels peers and
causing errors on the Chain this combined with a believable
enough. To me, impersonation of a
respected and trusted person responding to my pleas for help
is what did me in as open. Don's has said, it's not
uncommon, I just happened to fall harder for it than most
would, I guess? There were several mistakes I
made here and find if you want to single me out, personally.
I put this here just for anyone to see in case it might help
someone. So what happened here guys is
someone got scammed in a telegram group.
So if you are unfamiliar with telegram groups, when you go and
ask for help, sometimes you will get responses personal responses
from people, impersonating, well respected figures in the space
and they will send you a DM and they will act like they are
helping you they will they will you know, do their best to walk
you quote unquote walk you through the issues and seemingly
help you get your Bitcoin back but usually this is a red flag
if you are in a public telegram group and you ask for help and
then when someone responds to you in a personal DM, consider
this a red flag from a scammer. And what happened here is
someone in personated a well-known Bitcoin.
ER, someone was asking for help. They got a personal DM and on
Telegram and the guy seemingly helped him walk through the
problem. It seemed to work but it looks
like he got scammed out of some Bitcoin.
Probably more than he would like to.
So while this is a learning moment and and thank you for
Further comment, zombie note and Darth Cohen for pointing this
out to us. I can personally, I feel this
guy's pain because in my early days in my new days in 2018, I
as well got scammed by someone fishing as someone else and when
you're new, you know, you're not used to the idea that everyone's
a scammer and everyone wants your Bitcoin and that they are
doing all kinds of social engineering, acts to get you to
send them Bitcoin, to get them to send you, your personal
private keys. He's and so again we'd say this
all the time, if you do not want your Bitcoin scan from you, do
not send Bitcoin to anyone. Most bitcoiners that I know will
always do a PSA out there saying if I asked you for Bitcoin, it
is not me and it's a scammer and this is a very good heuristic
that you should live your life by because everyone wants your
Bitcoin and so people will socially engineer.
You they will pretend like they are someone else that someone
that you may know someone that maybe Affected and they will D
mu and try to walk you through the troubleshooting, only to try
to get you to send them your private Keys.
Want our first and foremost, never put your private keys in a
telegram group as someone. This is not a way to help you,
but if people ask for your Bitcoin, then you can be pretty
sure that they are trying to scam you.
So the moral of the story here guys, and I've experienced this
myself, I sent way more Bitcoin than I should have to someone
pretending that they were someone that I knew.
New and I got wrecked. And of course human psychology
is very interesting. You know, you got to put your
hand on the stove sometimes for you to learn lessons and while
this is very unfortunate is going to continue to happen.
So this is why I figured it was a good idea to bring this on.
If you are learning about Bitcoin if you're on telegram
groups do not. Let this terrify you away from
being coming a bit corner but just know, everyone's a scammer.
Everyone's trying to get your Bitcoin, they will try to
socially engineer you so that you send them Bitcoin.
So you send them your private keys and they Just want to take
your Bitcoin. So this is a Learning lesson.
Shout out to you zombie node. I feel your pain.
I know exactly what this feels like, and it's not a good
feeling. So my two recommendations here,
guys is, first and foremost, do not send anyone.
Bitcoin, if people ask for your Bitcoin, on Twitter, on
telegram, on an email, in a text message, just write it off as
them being a scammer. Second, I know right now is one
of those moments where it sambi node and people like like this
might be you know they might be feeling the pain, you probably
given away a small small fortune to a scammer and you may be
turned off from Bitcoin in general.
But do not let this stop you from understanding what is going
on in Bitcoin, understanding how to take self custody,
understanding that there are socially or people, socially
engineering out there that people want your Bitcoin,
because we say it all the time. Everyone is a scammer.
Everyone wants your Bitcoin. That's how valuable Bitcoin is.
And we are So new to this whole experience that people don't
understand what the game is out there, there's bottom ticket.
Anyways guys, I feel your pain, zombie known.
I understand this exact feeling and the only defining trait
between me and you in the past or sorry, you and me in the past
is that I continue to double down on my education.
I continued to stay humble and stacks ads.
I understood that This is an inherent flaw with Bitcoin.
This is more a fact that people out there are trying to take
your Bitcoin from you. So again, if you ask for help in
a telegram group and it's a public telegram group with a lot
of people do not respond to the personal DMZ.
You're going to get because they are most likely going to be
scammers. Unless you verify, the person is
who he says he is and they will do all kinds of tricks to get
you to think that they're the person.
They are do not send Bitcoin to Them do not give them your
private keys because you will get wrecked and further more
like I said, a while ago, you know make sure you know what
you're downloading on your computer.
Make sure you are actually downloading what you say you are
because people want your Bitcoin and in my opinion this is just a
feature and Bitcoin is that valuable that people will want
to take your Bitcoin. So everyone out there just
remember Do not send your private keys to people.
Most bitcoiners will not ask for Bitcoin and if they do it's an
immediate red flag that they are scammers.
So zombie known. I hate to hear this story but
just understand. Continue your education continue
to Double Down. Continue to stack SATs and
everyone else man. If you get these DMS just be
very aware that everyone's a scammer and they all want your
Bitcoin. So just be on your toes guys.
Keep your head on a swivel because Bitcoin is that Valuable
and there is no returns. There is no rewind button
Bitcoin. So once it's gone, it is gone.
And these are the harsh lessons that people are going to learn
and will continue to learn. Just like we said in the news
you know people need to learn that.
It's not your keys, not your Bitcoin and don't leave Bighorn
on an exchange. Well the same lesson will be
learned that people want your Bitcoin.
Everyone is a scammer so just be aware out there because we are
still in the wild west of this Bitcoin experiment, this Bitcoin
monetary experiment and you just got Be aware guys.
You know, be safe out. There it is the holiday season
people aren't thinking clearly, so just take your Bitcoin into
self custody and do not send Bitcoin to strangers on the
internet. Unless, you know, it is someone
that is a reputable person. A company that, you know, you
can, you can go and talk to, you know, hopefully, we can help
people avoid this, but this is something that will continue to
happen. So, shout out to you, zombie
known for making it. No, because I I know it's not
easy to talk about this stuff because I went through the same
exact thing in 2018, and it almost broke me.
But the only thing that helped me through it was studying
Bitcoin and continuing to double down in my education.
Yeah, 100%. And, and I did, I think, I think
you hit the nail on the head and I've been a victim of this as
well, right? The people you have to
understand that the, this is like a pretty, like, not This
isn't a sophisticated like I would say this isn't a
sophisticated attack, but if you, you will be targeted at one
point with a sophisticated social attack where, perhaps,
they know, they know either your, your family members name
your name and they'll create an email with that family members
name and then they'll reach out to you right in the be like,
hey, you like this, in this in that.
So be aware. Of social attacks, social
attack. Most people think like, okay,
someone's going to show up to my house with a wrench and then
you'll be like, hey you know but the majority of Bitcoin that
stolen from that's get scammed by.
People is literally a social attack.
It's a phishing attempt, right? It's to make you to gain
confidence with you and to try to get a hold of of your
Bitcoin. And, you know, we have a very
famous saying Saying in the Bitcoin space which is
everyone's a scammer, right? Don't trust verify, you know,
don't don't have heroes in Bitcoin.
They tend to die metaphorically, of course, so.
So yeah, man, but I think Opti you, you covered that greatly
and I think that that these types of examples are, are hard
lessons that people should be aware of, you know, so that you
don't find yourself in that situation one day, you know I
really recommend multisig The multisig is great.
It's a little bit, is a little technical, there's awesome.
Bitcoin companies that make it easy like unchain, like cos I
mean, you can't say casa anymore because they added fucking
etherium. But but yeah, there is, I guess,
one Bitcoin company that does this like Unchained, they're
great. So, but yeah, man.
Just just be wary out there. Remember everyone wants your
Bitcoin do not give it to them. Hold on Nico.
Before we go on to the meme review, we have a comment here.
Someone said, hold on, I'm not entertain.
I am being preached to waste of my time and I responded, guys.
We fully understand that there's a lot of Bitcoin content out
there. You don't have to watch our
show, but we understand one thing.
We are getting new people every single day into the Bitcoin
space and we also want to reach them so we get them up to speed
so that they can become bitcoiners get into the Nuance.
So yes, we do kind of go over the Bitcoin fundamentals that
time but that's because you don't see what we see.
We're getting A lot of new people in here and they don't
know everything that you know. And so we're doing our best to
not only get the bitcoiners that are already bitcoiners but
convert people from normies to bitcoiners.
So yes, hey, if you don't like what we're doing, there's more
content out there. But we're doing a service for
everyone out there because we see differently on this side,
people are getting into the Bitcoin space and they are
learning as well. And we get these messages all
the time and so we're doing our best to get them.
Into Bitcoin. Yeah, 100% 100%.
Sorry I thought I heard my dog's.
I think it is my dog. My roommates dog over here.
Interview. The daily meme review brought to
you by Kaboom racks. I get this question all the
time. Nico.
Where should I buy Bitcoin miners.
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All right, all right, I get this question all the time.
I really liked Niko, where can I buy Bitcoin miner, bro?
Literally Kaboom racks. It, literally, the telegram
group is down a link description.
It join it. And they'll literally, they're
posting deals. All the time you want to get
into mining. Now is the time now is the time
you don't want to get into mining when we are at a peak
Bull Run. You want to get some, we want to
get into mining right now. And Asics are at a major major,
major discount Ops you. What do you what is this?
You guys are on the front lines. You guys continue to spread that
truth, continue to spread the humor and and the really cool.
And here we have one you go, you may not like this, but this is
the good one and you can see it's what coins a la carte.
And he goes Sam Bateman fried still customer funds.
So we must ban Bitcoin and it's it's ahead shitting into a
toilet head. His other half of the head.
It's more of the comment over here.
This is back. To the idea that we continue to
cover on the show. This is no inherent fault of
Bitcoin. All the FTX collapse, all the
lending collapse. This is why we tell you every
single day take your Bitcoin into self custody Bitcoin is
running as it's been designed to for decade now plus and none of
this has any effect on bitcoin and continuing on that theme,
shouts out to at hottel. Never saw do and he goes, not
your keys, not your Bitcoin and we got this is a Dumb and Dumber
me. Formatting.
It goes FTX users with a bunch of paper in their hand.
He goes, what is this? Where's all the money?
And we got Jim Carrey as SPF and he goes, that's as good as
money. Sir, those are our use.
This is what we tell you guys. Make sure you're not holding
paper Bitcoin. Take your Bitcoin in the self
custody because this is why banks have been able to do what
they do forever because they are rehypothecation Ting your funds.
Take back your power with Bitcoin.
This next one shout out to our friend, gold leader and I didn't
know Nico is going to replay that CZ clip all day, but
anyways, I'm glad he did because we got gold leader and he goes
corporate needs you to find the difference between these two
pictures and we got Will Ferrell and Anchorman.
He goes, I don't believe you and then we got the lady rolling her
eyes in that cheesy clip. Someone said in the chat, we
need we need her as like an audio or visual clip on the show
Nika. So when there's another point of
contention, we just play her like me.
Mmm, doodling or I wish we were missing a lot of sound boards.
Like I want to, I want more Michael sailor.
I want more Cory. I want just like some sauce from
from some of the, some of the most awesome bitcoiners bro that
we could just fucking with you. All right, well I will upgrade
my sound board for you guys so that I can send multiple like
that. We got yellow, at least we got
yellow, you know, that? So let's go.
That's what we got. All right, this next one, shouts
out to Ryan Zach music and he got my first Bitcoin meme popped
into my head while driving and made me chuckle, we tell you
guys consistently, put your hat in the ring.
Continue to meme continue to make the Bitcoin content that
you want to see because there's not enough out there.
And this is just standard meme template with the super, the
superhero pushing buttons and on the Left, it goes slavery and on
the right. It goes, remember 12 words as
Nico says, all the time. It is Bitcoin are slavery.
And all you have to do is remember 12 to 24 words to opt
out of the Fiat panopticon that they want for you opt out of the
dystopia with your 12 and 24 word, AKA your private keys.
This next one shows that the Mitch clearly and I'm glad we
kind of talked about this on the numbers.
He goes there's Bitcoin and then there are digital Securities,
and it's just the picture of Tom Cruise laughing because there's
Bitcoin and their digital Securities.
And if you're not holding Bitcoin, then you're most likely
holding a digital security AKA, there's Bitcoin.
And this shit coins. This next one is by the Bitcoin
conference and he goes the dominoes are falling and I
really enjoyed this. This mean right here.
We got a little baby Bitcoin kid and he's just playing dominoes
and The Dominoes continuously get bigger until we get to the
big daddy king. The final boss, which is Fiat.
And the dollar, the dollar will be the last Fiat to fall, and
this is the game that we're playing and the powers that be
know this. This next one, shouts out to
away slice. This is a video for those on the
spaces because who captured this live footage of Bitcoin Twitter
and it's a tree that is on fire on the inside.
But the tree looks very normal and nothing's happening on the
outside. If you've been on bitcoin
Twitter longer than a few weeks, you probably feel the same way.
It is just a shit show and you know on fire half the time but
this is fine. This is all part of Bitcoin
Twitter and why we do what we do again.
Put your mean review score in the chat so that we can cover it
on the show live. Anyways, I got this setup cess
mentality by BTC pens, a play on Cards Against Humanity.
Shout out to you bro, my box is a little torn up.
It's been through some things because of traveling, but sat
Assessment ality card game. Absolutely love it.
Haven't fully played it yet, but we'll get on the drinking game
soon. Jump it nigga.
What you mean review, dude, Miami murder DUI.
I got an inspiration from you Opti.
I got inspiration from you. I think you'll be very proud of
me. Jug a jug?
I no longer this. This is I gotta get on opt, he's
game. Did you gotta stay hydrated,
bro? Look at this.
Look how much water have been drinking?
Wow. Very very hydrated.
When learning drinking your water.
Any more of those I've been trying.
I've been I've been learning I've been learning.
Oh wait wait wait wait. We got a Super Chat.
Pause the Lucas reminder to to all the super chats are open.
Thanks man, I really appreciate that.
Anyways guys, this is simply Bitcoin live drop your scores in
the live chat before we do that. I want to give a very special
shout-out to our awesome clothing.
Merch sponsor representing t-dot-com.
I'm wearing the simply Bitcoin merch exclusive merch.
By the way, this sweater already sold out, you can't get it.
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Get it quick. Before it's sold out.
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Got shirts, hats. Check out representing t.com,
you can take advantage of the promo code simply Dash Bitcoin.
Anyways, let's get to some of the scores off to start pulling
them up. Tyler Durden swallowed, the red
pill, I give 500 kilowatt hours to your minor.
Very good score, very good score.
Next one, bye Bitcoin. For Canadians.
I give those memes easygoing. Belly Up in 2023.
Cheaper Bitcoin, 100%. Next 13 days, I give these memes
Christine lagarde's used diaper. Speaking of the Guard, shoutout
to Opti sponsor Optus toward a Time, brought to you, by
Neutrogena promo code Lagarde. That's a joke, pickling Becca.
I give the memes a quote, everything is fine mean, that's
a great, great meme. All right, after you have time
for two more opt, he's infatuation with sexy, male
British accent It's score mommy. Opt he's Christmas invitation,
very, very nice. Last too much.
If I should've last one, a Jato coin.
I gave those beams. A Spartan soundboard for
Cynthia. Lummis.
One of us the time is out. Also guys check out Simply
Bitcoins telegram group is absolutely absolutely free.
You got to go to www.ah.mil / simply Bitcoin TV also check out
the blog simply Bitcoin, unfiltered, simply Bitcoin dot
news. That's where you can find the
written version of the show. Shoutouts are awesome Riders.
Zach, wine and kiss Paul rusted. Love you guys.
You guys are what makes it happen?
Opti software or website today. It's a site.
Websites brought to you by
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only on Cipher safe dot IO. All right, boys and girls.
Ladies and gentlemen, today's website by bitcoiners is SATs
crap.com, I repeat sat crap. A.com it's a, it's like an eBay
for bitcoiners out there. I know, I know it's a bear
market and everyone's looking for more ways to stack such.
Well, here is a website where you can sell your crap for SATs
and it's like a it's like a Bitcoin eBay site.
So there's a bunch of stuff on here.
Don't know. I know I know people are looking
for ways to stack Moore's apps out there.
So go check out sad scrap.com and TK shouts out to you, bro.
Yes, the sub stack is slaying it.
The boys over there, dropping a hot fire.
I absolutely love what they're writing and I can't wait to see
the next up. And, of course, if you want to
listen to this, an audio-only form, we are on anchor.
We are on Spotify, we are on Apple again.
I think we're on every podcasting platform out there.
But we are a part of the valley for Valley.
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We love you continuing clipping on the show and will retweet it.
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