It's. All going to zero against
Bitcoin. It's going on forever.
You're against Bitcoin. You're against freedom.
Yo, good morning, everybody. Welcome to Simply Bitcoin, the
number one daily live Bitcoin show on YouTube, Twitter and
Rumble. We cover breaking news, culture
and mimetic warfare, and we bring on bit corners from all
around the world, from the biggest names to the everyday
savage Bitcoin. And I got a lineup for you guys
today, so you're in for a treat. And we will be your guide
through the separation of money and state.
And welcome everybody. Today is a celebratory day for
Bitcoin, for Bitcoiners. It's a having day, boys and
girls. As Bitcoin continues to run, has
the most decentralized and secure money in the world and
later today I block 840,000 the daily Bitcoin supply will get
cut in half. Welcome, welcome, welcome guys.
We made it to the 5th epoch. Absolutely beautiful to be a
Bitcoiner as Bitcoin undeniably secures itself as the hardest,
soundest and most secure money in the world and Bitcoin's
monetary policy continues to chuckle on block by block guys,
it's working exactly as designed.
This is why we Bitcoin, because bitcoins know exactly what our
monetary policy will be. There's no guessing.
There's no, you know, small cabal of people that are going
to manipulate the the monetary policy.
No, we know what it is. It is verifiable proof of what
will happen on the Bitcoin time chain today, tomorrow and far
off into the future guys, and the world is waking up to this
phenomenon. You cannot soar value in
dollars. You can't send gold over the
Internet and you don't really own your stocks, guys.
There's only one thing you can own.
There is no second best. It is Bitcoin.
And as Clown Wood continues to print more and more money, as
the Jamie Diamonds of the world continue to meltdown over
Bitcoin, continue to talk out of both sides of their mouth and
flood Bitcoin while embracing Bitcoin silently, Bitcoin
remains the undefeated best way to store, send, and transact
freely. Guys, This is why we are here.
Bitcoin is entering its 5th epoch and we're ushering a
bright orange future on planet Earth.
You just love to see it. So guys, hey, if you're new
here, you might want to get some because it seems to be catching
on. Guys, these are the good old
days. These are the days that you will
be remembered for. These are the days that your
great grandchildren will think back on and call you an absolute
legend. So stack some Bitcoin today for
your bloodline. You don't stack stats for your
first name, you stack stats for your last name.
Guys, solidify your place in history as the Fiat world
crumbles to better life waiting for you when you're on the
Bitcoin standard. Boys and girls, this is the way.
This is why we do what we do. I'm so hyped today, so good to
be a big corner and I got some epic guests for you guys today.
So I'm going to I'm going to bring them in.
First and foremost, let's bring on Adam O'Brien.
Adam, how are you feeling today on the having bro it?
It's so beautiful to be a big corner.
You've been around for a minute. So what's the having mean for
you bro? Dude, I I said a little while
ago, the halving is just like New Year's for Bitcoiners.
But in classic Bitcoin fashion, it is more scarce.
That's it. It's like it actually means
nothing to anybody. It is like block 840,000 and one
is no different than block 839,999, but it's a new epoch.
You and I were joking before. New epoch, new me like this 5th
epoch, man, it's going to be sick.
Every single epoch that Bitcoin hits, it just sets the next
level. Also, like, I don't know if it's
just because it's Friday, if it's because we got the meme
review coming, but when you hit the horn in like minute one of
the show, you know it's going to be a good day.
So I'm just, you know, I'm just jacked up to be here and I was
just checking because every time I'm on this show, I'm reminded
that I have to update the jackpot thing.
Check this out the Bitcoin jackpot contest over 6,000,000
sats porn the horn twice in the 1st 10.
You got to love it. But 6,000,000 sats in the
Bitcoin jackpot contest so all these savages watching, it's
getting out of hand. I got some stuff to give away
today for those that enter the Bitcoin jackpot contest.
So you know what man, all around is a good day.
What have we got like 50 blocks left?
Something like that, Something like that.
Yeah dude, 55 blocks to the halving.
It's just TikTok next block but you know us humans with our unit
bias, we got the human condition sticking out.
This 5th epoch is gonna be a good one bro.
Yeah, man, exactly. And, and you kind of touched on
it. You know, I'm sure Bitcoiners
aren't gonna leave their house today, but if they do go out,
you're just like, you know, you're eating some dinner,
you're maybe having a drink out in the bars and you're just
doing that one meme where you're like, no one even knows the
having is happening right now. We are so early right now.
We are still so early. People don't even understand
what's going on. You just love to see it.
Anyways, let's bring on Eric Stacks, another legend out here
making great content. Cannabis producer, content
creator, really on the front line.
So, Eric, what's the having mean for you, bro?
What are we gonna get a good Eric RIP on the very beginning
of the show. What's up, bro?
How you feeling this morning? Well, I'm feeling fantastic.
First off, thank you for having me.
And yeah, having this is a big deal.
Obviously, I'm a cannabis producer.
This is my green screen here. And what's so special about the
having is is that it's a time to celebrate the only thing on
planet Earth outside of our time that is the demand goes up for
it. The supply doesn't change.
Honey badger don't give AF, right?
And so that's a big deal. And being somebody who's worked
as a commodity producer, I've had the real, like real world
experience of the deflationary forces that we contend with on
planet Earth. You, Jeff Booth's thesis comes
to mind. You know, demand for anything
will always be associated with supply.
As the demand goes up for something, if the free market
wants it, they'll bid the price up.
As the price goes up, the economic incentive to produce
more of whatever that is goes up.
Entrepreneurs and capital, they'll flow into that sector of
the marketplace, They'll attack that margin prices fall to the
marginal cost of production, etcetera, etcetera.
And so I've had real world deflationary forces affect my
life, dollar denominated wage deflation, dollar denominated
cost of living slash OpEx inflation.
And so those are two fundamental fucking major issues.
Those are opposing forces and Bitcoin, you know, being pure
monetary energy, it's a pure monetary instrument.
There's no utility value. Peter Schiff Can't Sing a song
how he's going to, you know, make something with his Bitcoin,
whatever, right? And so as the demand goes up for
Bitcoin, the supply doesn't change.
Actually the new issuance is going down.
And that's what's so significant about the having that's a big
deal. It's going to further strengthen
Bitcoins value proposition. Where you have abundance and
money, you create scarcity and everything else.
Where you got scarcity and money, you create abundance and
everything else. So we're ushering in a bright
orange future. I got my bright orange glasses
on. It's a big deal.
You know, now that the money is the hardest thing, stock to
flow, hardest thing in the marketplace, the incentive is to
hold the money. That's freeing up assets people
need like houses. And so as I drive around, I'm in
Northern California, I see homeless people.
It fucking wrecks me. It's depressing, it's sad, but I
know the most scarce thing in the marketplace is the money,
and the incentive is to hold the money and that's going to
liberate us over time. And I think it's happening quite
fast. So yeah, that's that's something
that I'm super grateful for. Bars, bars and and literally, I
love that you started with that, Eric, because This is why it is
so easy to contrast all the cantion bankers, all the
politicians, the bureaucrats. This is why they freak out about
Bitcoin is because they're not naive.
They understand the game being played.
It's always been about the money.
It will always be about the money.
And what Bitcoin does, it destroys that monopoly and
control over money. And This is why we have Jamie
Diamonds over the world. This is why we have the
Elizabeth Warrens of the world come out and say all this
ridiculous stuff about Bitcoin. But the beauty of Bitcoin is
guys like we don't have to listen to them.
I know ours new show. It's our job.
It's our duty to cover clown world.
But you don't have to pay attention to this.
Just stack sets take Bitcoin into custody and all of this
stuff just falls away and you start to live a better life.
Life is so much better on a Bitcoin standard, a personal
Bitcoin standard. And then just wait till the
whole world's on the Bitcoin standard.
It's gonna be beautiful. It's such a beautiful life.
It's we've been given paradise. Shouts out to Satoshi.
Man, what a what a good day. Anyways, before we go on too
long, we do have to plug our boy Adam O'Brien Bitcoin.
Well guys, make sure you are signing up.
Actually, Adam, we have what, 50, no, what 54 blocks?
OK, so until this thing closes, so you guys, guys are listening
to Opti right here. I'm only going to say this like
a few times in my life. Listen to Opti very carefully.
Let's go guys make sure you scan the QR code, you go to
bitcoinwell.com/simply Bitcoin a Bitcoin only exchange, self
custody by default, no withdrawal fees, no withdrawal
fees, sorry and of course no VC money guys.
This is a platform for bit corners, buy bit corners and
they want your feedback. They want to build the best self
custody platform, period. Literally the best one in the
States. Actually.
We'll go with all of North America guys.
So get in touch with Adam, slide into his DMS, tag him on the
Twitter timeline, tell him what you want to improve on Bitcoin.
Well, and Adam was telling me in in in Dallas that every two
weeks I'm going to put you on the spot, Adam.
Every two weeks they're going to ship some new features for you
guys to make sure this is the best Bitcoin custody default
platform period. So go to bitcoinwell.com simply
Bitcoin and Sign up today. And on that note, guys, you have
what did Adam just say about 50 blocks here?
Let me, let me refresh. Did you?
Refresh it, that number should update.
Did you refresh? It's not there we go.
There we go, guys. So scan the QR code, go to
bitcoinwell.com/contest and you can enter into a chance to win
69% of 6,000,000 sets. And we got about roughly 50
blocks for you to sign up to be a part of this giveaway.
And man, hey, who doesn't like three sets?
Everyone that signs up today is going to also have a chance to
win some Bitcoin panties. I don't know if you guys have
seen Bitcoin panties before. Bitcoin panties are incredible.
Well, actually I have not worn them.
My wife wears them. Adam's wearing them as we speak
right now. Yeah, you know what?
You can't see my bottom. So I'm I'm, I'm never going to
confirm or deny that I am actively wearing Bitcoin panties
right now. However, everyone that signs up
today also entered to win some Bitcoin panties.
So yeah, go join the con. Like I'm just so stoked that
honestly, like 6,000,000 SAT's, I think we've had over 6000
entries into this thing. Like it's just, it's just
absolutely been insane. So keep on, keep on keeping on.
Let's enter the jackpot contest. We're giving away some.
We're giving away 10s of the jackpot to a geyser project.
Let's hit it. Let's go.
All right, boys and girls, scan the QR code.
Get there right now. But on that note, let's get to
the numbers. The Bitcoin numbers.
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All right, guys. Also scan the QR code and there
is a discount for the halving today on stamp seed.
So you can get 50% off all the steel plates on the website
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the website today. You get 50% off all plates, boys
and girls. So you know, we got deals for
you on the halving day. All right, guys, let's get into
the numbers. So before I go on, I think my
numbers changed a little bit because Clark Moody updated his
dashboard. So I had to re, you know, I had
to update my, my favorites on here, but we're over here on
bitcoin.clarkmoody.com going over the numbers.
So of course, first and foremost, I think everyone's
favorite number will rather all the number go up.
Maxi's favorite number is the price of Bitcoin.
We're currently at $63,700 per Bitcoin.
We are at 15170 stats per dollar.
I repeat, you can get 1569 stats per dollar.
The price of a dollar right now is roughly around 1500 stats.
Guys, it's going down man. It's going to it's going to
really hurt once it's under 1000 or maybe it'll be a bittersweet
moment. Anyways, the market cap and Fiat
terms for Bitcoin is $1.26 trillion, which I think is
slightly under silver right now. So we gotta pump this up.
We gotta, we gotta make sure we solidify our position over
silver. I've actually been getting
silver, silver bugs hitting my my, my timeline the last couple
of days 'cause I've been trolling them that Bitcoin is
the hardest, soundest money in the world and, and man, silver
bugs. I, I can't even I can't even go
with it. All right.
And the total percentage of Bitcoin that will ever be
issued, I repeat, that will ever be issued is that 93.74% the
realized monetary inflation taking Fiat currencies of school
is 1.73% and about to be cut in half.
Love to see it. It is solidifying itself as the
soundest, hardest, most unfuckable money in the world
and roughly 50 blocks. Just love to see it.
And the pending fees, at least according to the Manpo that
Clark Mooby's connected to, is 15.48 BTC.
Remember guys, I was telling you, I, I told you this
yesterday, the fees might get crazy considering all of this
stuff happening around block 840,000.
There's you know, the ordinal Maxis out there, there's this
new D Gen. shit coin thing called runes about to get
unleashed at 8:40. So we might be seeing some crazy
fees later tonight. It should you know it, it should
find its way to to uh, uh, equilibrium.
But hey, have you been waiting to consolidate your UTXOS?
Maybe today is not the day, guys.
Maybe you want to give it a couple of days.
We'll see what have maybe maybe the the having block comes by
with no fireworks, but I think I think we might have some
fireworks later tonight. Anyways, the blocks to happening
55 as you guys know, the having estimate, at least in America is
April 19th, 2024. Unfortunately, we are one day
behind the meme day, but hey, you never know, maybe maybe it
takes 2 to 3 hours to get some of these blocks and we actually
hit the April 20th. That would be hilarious.
And then the these are the new numbers I added for you guys.
So I know everyone out here that's like, oh, Opti's talking
about the price, like, oh, let's not talk about the price day
since all time high. I don't I didn't I I didn't even
know this was a number on Clark Moody's dashboard.
But it's only been 36 days and all you guys are getting
absolutely bearish out there like it's over for Bitcoin.
It's been literally barely over a month and we haven't hit an
all time high and everyone's already tuning out all all the
bitcoins are such bears. It's like if the price doesn't
just pump consistently, we're like, oh, it's over man.
And the decline from all time highs is only 13.6%.
So guys like, relax, nothing's nothing's going wrong.
Everything's good guys just keep stacking.
This is Bitcoin on sale. If you like Bitcoin at 73 K,
you're going to absolutely love it when it's 13% down.
It's just cheaper sats. You get more sats for your
dollar. Oh man, it's it's so frustrating
talking to Normie sometimes. Anyways, what I really want to
talk about here, and this is something we always talk about
and we're about to get trolled in the chat because I'm going to
say it and you guys always troll Nico about it.
But this is the over 10 window shifting.
Look, I'm not even the biggest Fox News fan, but shouts out the
Charles Payne. He's an absolute Bitcoin maxi
out here. Just spreading the signal to the
boomers out there that still watch television on Fox.
And you know, again, we say it all the time.
It's not left first, right. It is orange versus green.
But hey, Fox News is doing a very good job of spreading the
Bitcoin signal. Even though we covered on the
show, I forget when it was, maybe it was Wednesday or
something like that, about the fact that viewership on
television is absolutely lower than some of the Bitcoin
accounts that we know and love. So very few people are actually
watching the television, but they're still doing Satoshi's
work out there. They're still spreading the
signal. They're they're at least trying
to wake people up to what the real problem is.
And Eric hit the nail on the head earlier.
The real problem is the money, guys.
It's always about the money and the money is broken.
And This is why we're bitcoiners.
This is why we are so hyped for the having.
But enough of me ranting. Let's play this video real quick
and you guys can see actually I'm going to I'm going to
compare and contrast this. So these are two clips from from
Fox that I'm going to play right now.
And we got an unlikely hero from the UFC 300 and he went back on
Fox and he's still spreading the signal.
So let's kind of go into the first clip, which will be kind
of more of the normie take of what's going on in the world.
And then we just add the bitcoiner there and we basically
say, hey guys, we have the solution.
Like you guys have all these problems in the world, but it's
very simple, it's very clear cut.
It is Bitcoin. It is simply Bitcoin.
This is how you get out of this situation.
So let's play this clip here again.
This is on Fox News. But just listen to him.
Just listen to him. You know, that Canadian clip is
so scary because that really could happen in America.
The Federal Reserve has already talked about potentially a bail
in. They will not bail the banks out
again, Charles, if anything happens, money could be frozen
and clients and will be locked out.
You believe that though? No, I don't believe that that
would happen. Yes, I do.
Do you believe they won't bail the banks out?
Two things. You've got the Federal Reserve,
which really is a bank for the wealthy.
I mean, it's a bank for the banks and it banks for the
wealthy. That's what they work for.
They don't work for the US, for citizens.
We, it's time people understood that.
I'm so glad you said this because so many people think
that because we're the world reserve currency that we have to
build out the dollar that we won't let our system collapse.
What they don't understand is what the BRICS nations are doing
to basically do cross-border payment transactions in local
currencies without a reserve alternative to the dollar.
So yes, I believe with the amount of.
Deficits that we're running, that we.
We just seem to carte blanche. We're not in a war right now
directly. We're not in a pandemic.
And yet we're still getting a $7.3 trillion budget proposal
from this administration. I think the rest of the world is
saying America has taken modern monetary theory way too far.
Well, they're finally saying what as Bitcoin has been saying.
And you guys see the tag here, America going broke?
No, it's been broke since 1971. Like normie conversation is so
frustrating. Go.
Go, Adam. What happened in 19?
70 Yeah. What happened in 1971?
I I wonder, man, but it's so funny, like, you know, they,
they're even talking bad about the, the MMM tears, you know,
modern modern monetary theory. They're they're out here like,
wait, like, what's going on? What, what can we do?
How, how do we fix this situation?
They don't care about lowering the deficit.
They don't even care about printing more money.
And like, look at look at what bricks is doing.
And we're over here like, yeah, guys, there is a solution.
And shouts out to Renato Moshano.
I don't know how to say your last name, bro.
Apologies, but he goes on Fox. And he's just ripping the
Bitcoin signal. And again, compare that last
clip to what a UFC fighter is saying.
And this is what we say all the time of bitcoins.
You know 80 IQ Bitcoin plebs out here like we can barely speak
English and yet we have the right point of view on the
world. We are correct and it constantly
shows because we just thrive and prosper and life gets better on
a Bitcoin standard. Look at Renato on Fox, he's
spreading the signal and if you compare and contrast what the
Fiat minded pre coiners are talking about versus what
bitcoiners are talking about on the same channel, it is night
and day. Check this out.
I also read that you think interest rates are going higher
and that you want to get paid your MMA bonus in Bitcoin,
right, 100% That's that's a huge part of the Austria economic
school, right? Supply and demand and scarcity.
And I think Bitcoin represents that the, the Bitcoin even
though is is dropping a little bit, I think the is a defense
against the, the, the tyrant state is a defense against
inflation too, because eventually is going go up
because everybody's knowing what Bitcoin is.
And the dollar is losing value because the interest rates,
because the government keeps printing money, keep doing
handouts, keeping doing like welfare to the people.
They, they are not trying to to, to control the supply of the
money. They are always printing more so
I think that's going to be beneficial to Bitcoin.
Just absolutely love it. Absolutely love the contrast
there. He like all right, first and
foremost, let's just TLDR this. that Lady, she's sitting there
like, oh, who knows what's going on?
They're printing all this money. What's going to happen and the
bitcoiner, someone said his last name is Moicano.
All right, shots out Renata Moikano, I think, or yeah,
sorry, I'm so bad with names. He just comes out here, clearly
tells you what the problem is, clearly tells you what the
solutions are. And he's like, yo, like, I don't
have to listen to these people. I just want to get paid in
Bitcoin. This is how you change the
world. All you need to do is take
Bitcoin into custody, save in Bitcoin, continue to talk about
Bitcoin, continue to spread the signal so people understand
what's going on. And the more eloquent you are
like, look, I can barely speak English and yet we're here.
I understand what's going on in the world.
And it's all because of Bitcoin and this guy again, we are
basically at the fall of the Roman Empire.
You know, the bread and circus's meme and literally the gladiator
that was in the circus understands what's going on with
the crumbling of the empire better than the people that are
supposedly knowing in the know the experts on what's happening
in the world. You just absolutely love to see.
And This is why we always say that the the Overton window is
shifting bit corners are cracking the the echo chamber.
We are breaking out and our signal is going mainstream right
now. And I think in the next four
years, it's going to be undeniable.
Everything we've been saying as Bitcoiners is going to be
popular mainstream consciousness.
It might take a while till everyone gets on the Bitcoin
standard, but it's our world and everyone else is just living in
it. It's our meme world and everyone
else is just living in it. Anyways, let's get Adam in there
since he chimed in, and then we'll get Eric to do a rip.
Yeah, man, you sit like you love to see it.
The Overton window, man, I mean, we talk about it way too much,
but it's so real. I think ultimately it's going to
come down to people. People that will adopt Bitcoin
are going to have a better life. And funny enough, it will not be
America. The, the, the lack of interest
in a Bitcoin standard is actually what is going to
prevent America from, from, from thriving into the future.
And I think that, you know, when we're seeing countries like El
Salvador completely embrace and, and encourage their, their
people to get on a Bitcoin standard, we're going to see
these third party or these, these third world nations
continue to dominate in, in economic prosperity throughout
the future. We're really seeing this
separation, this, this, this shifting of, of economic powers.
And like we're witnessing it in real time.
And it's actually, it's actually kind of insane.
You know, the same way WTF happened in 1971, Like WTF
happened in 2024? WTF happened in, in 2009 on
January 3rd. It's absolutely remarkable that
this moment in time is going to be talked about for centuries
and and centuries and centuries and, and maybe not in certain
parts of the world because they won't want the embarrassment
that they didn't embrace Bitcoin.
They won't want the embarrassment that they thought
they could print their way out of disaster.
I mean, you hear that, that that that news anchor like, you know,
they think we won't let the dollar collapse as if you have
any control, as if they have the ability to prevent a collapse
when they're over inflating the dollar to ungodly levels.
It's absolutely laughable that they think there is anything
else in the world that matters compared to supply and demand.
We have a certain supply of money and a demand from the GDP.
Anything outside of that is smoke and mirrors and has a
shelf life. The world has always functioned.
How much do you produce versus how much do you consume?
And as soon as that gets out of balance or there's a third kind
of integer, you know, weaseling its way into that is when things
start to get goofy. Short term, fine, but long term
goofy. And we don't want long term
goofy. Bitcoin puts an end to long term
goofy. And I think that's just, that's
why we're here, man. That's why the 5th epoch is
going to be important. The 5th epoch is the mainstream
epoch and we're starting to see it.
People are like you want your whole bonus in Bitcoin, guys, in
the 5th epoch, it'll be like you only took half your bonus in
Bitcoin. What are you doing?
How come only half like are you bearish bro?
It's going to be absolutely mind blowing and and I need everyone
to remember this is where I disagree with you, Opti.
It is not dollars per Bitcoin. Dollars are not going or Bitcoin
is not going up. The dollars are coming down.
The increase that Bitcoin sees, one Bitcoin is 1 Bitcoin, 100
million sats is 100 million sats.
It's just your purchasing power that's changing.
We gotta get out of this Fiat mindset.
We gotta understand that Bitcoin is the root value only because
it is a representation of the value that you create with your
time. Eric's head at the top of the
show. Our time is what scarce and
Bitcoin is the perfect reflection of our time.
We absolutely need no loco It is apoc.
You're right. Thank you for the correction on
the for the Canadian here. It is the perfect, a perfect
representation of our time and how our time is and should be
valued. Your your time, your value goes
up, your stock increases as you get smarter, as you get faster,
as you get more efficient, as you have some, some some St.
cred coming in, your stock rises.
That's how Bitcoin is designed. It follows and perfectly mimics
your time. So I'm like obviously super
bullish. One Bitcoin is 1 Bitcoin dollars
are going down. Escape the clown world.
Vote with your dollars. Let's go.
Oh man, this is getting a little bit liberal.
Let's start. You now it's Friday.
It's the having, you know, it's the having simply Bitcoin
string. I'm feeling good.
And also Adam, I I think you're earning your stripes as Co host
cause dunking on Opti is is that's how you get your stripes.
That's how you get your stride from all right, Eric, what's
your thoughts on these clips? What, what what What goes
through your brain when you watch this stuff?
Well, First off, word to all of that, Adam very well said.
Yeah, you know that. What comes to mind is is you
have this broken, broken, Keynesian, nebulous, modern
monetary trash perspective. And when you listen to people
try to explain MMT, it doesn't make sense.
It's not mathematically sound. And so you have a lot of, I
don't know, flood, gas lighting, it's like this, this back and
forth. People don't read their
pontificating on how this is taking place and what's that,
what's going to happen. Here's the bottom line from my
perspective. You have a debt based Fiat
monetary system where the units are lent into existence is debt
against assets. We live in a fundamentally
deflationary world where we're making more of everything for
less. So with human ingenuity and
technology, we're driving real cost down on everything.
However, the dollar denominated cost on everything has to go up.
And so you have this artificial price pump you could say based
upon them injecting more monetary units into the system.
And so there's two ways for in the system.
I mean, there's a multitude of ways that they can inject money
into the system. And I personally don't think
it's going to be a bailout because you'll cause mayhem on
the streets. People will go crazy.
You can't seize people's money. You can tax or you can inject A
liquidity, you can debase. And if you debase too fast,
prices go up too fast. If you tax too much, people go
crazy. So it's this back and forth
game. Like I think what took place
with COVID is kind of interesting where you had all
this stimulus and they essentially, I don't know, 40%
of the money was was created. I don't know, my math could be
wrong. But essentially you could say
that they basically doubled the money supply within a year or
two after COVID. In some sense, I believe that
that was a very well orchestrated false flag to come
up with a new reason on how to inject more money into the
system because it can't happen in the same way that it's
happened before. You'll have more people marching
on Wall Street, you'll have mayhem on the streets, right?
And so he'll come up with another creative way, another
spending bill, whatever, because every time there's a default
within the system as a result of the fundamentally deflationary
forces in our civilization, we're pushing prices down.
But there's exponentially more liabilities within the system
and the dollar denominated value of those assets has to continue
to increase. Otherwise everything goes
insolvent. People stop paying their bills.
Everybody's got negative equity. It's that proverbial bust the,
the the mass BK right that requires all of these bailouts.
So they're going to continue to inject liquidity or dollars into
the system to keep the asset prices going up.
The problem is, is that with fractional reserve banking,
they're going up too fast. And so people are going crazy
and everybody's figuring it out. Life, life's greatest teacher is
pain. So as people feel more economic
pain, the incentive to learn what is going on increases.
And as people figure that out and they watch the NGU tech take
place on Bitcoin, it's continuing to bring more
awareness to Bitcoin. It's continuing to bring more
signal that's cutting through all of the nebulous bullshit and
FUD. And it's driving people into the
hardest money on planet Earth, the hardest, the hardest assets
ever exist. And so that incentive is going
to increase. It's going to push more people
into Bitcoin. As we look at countries like we
were all just in El Salvador, at least you and I were Opti
amongst a bunch of other revolutionary people celebrating
the having being in El Salvador is quite interesting.
It's the opposite vibe that we have here in the United States.
Everybody is excited. Their life is getting better.
What the government and the political regime there is
telling them makes sense. It's not this confusing,
nebulous, gaslighting, bullshit, clown world distraction, divide
and conquer nonsense. It's just pure signal, hey, I'm
going to protect your property rights.
We're going to get rid of a bunch of these corrupt
politicians. I'm going to put all these
plundering, perpetrating gangs participating in their perpetual
scumbagger. We're going to put them all in
in fucking prison here. And the people are enthralled
that the energy is so incredible in El Salvador.
And I think that that's just this bright orange beacon to the
rest of the world. People are waking up in addition
to the economic pain that we're feeling.
You know, I don't know about you guys, but I go and buy steak, I
buy the food, I buy the supplies, I buy gas, I buy the
things that I need to need to exist.
And the upward price appreciation denominated in
dollars in those things is a real, it's a real thing.
But if I measure the value of the world in Bitcoin,
everything's getting so much cheaper.
And that is going to drive people in.
I think that all of this fought on and confusion on the
mainstream media. It's, it's two things.
One, there's only one way to suppress the price and it's to
get Jamie Dimon to get on NBC or CNBC and say, oh, Satashi is
going to double the money, double the Bitcoin supply in
2140. This motherfucker knows Bitcoin.
He's the, she's the CEO of JP Morgan Chase who famously wakes
up every morning and reads, do you think he doesn't understand
Bitcoin? So I think they're, they're
suppressing the price through a bunch of FUD.
It's a mass SIOP. And I also think that it's just
this confusion over everybody's like, oh, what are we going to
do? What's the government going to
do? I'll tell you what they're going
to do. They're going to continue to
print an enormous amount of money through monetary policy,
fractional reserve banking, through spending bills, through
grants, forgivable loans, all. We're going to loan your
business hundreds of thousands of dollars.
I got a friend, his mom owns a coffee shop.
In the COVID stimulus, she got like $550,000.
She has 12 employees. It's like, Oh yeah, you just
filed these forms, we'll forgive you.
That's a creative way to inject more money into the economy so
that the asset prices continue to go up.
It has to happen, otherwise everything is going to go bust
and there's going to be mayhem on the streets.
And so Bitcoin is capturing that economic energy at hyper rate,
which also is fascinating in some sense because it's ethical.
As the Bitcoin price rips, it doesn't really cause any
problems for anybody. It's not a threat to anybody
except for maybe people who don't have it.
So yeah, I think it's a a phenomenal thing that's taking
place. I think there's a lot of
confusion based upon just the lack of understanding.
But as the as people's pain increases, it's going to bring
awareness to supply and demand dynamics.
Austrian, the theory of Austrian economics, it's pure signal on a
world, full bunch of noise. It's cutting through it all.
I, I can't have favoritism here. I gotta give him some horns.
We're going heavy on the horns today.
But Eric, to clarify one of your points, I think the actual
numbers were from 2020 to 2022, they printed 40% of all dollars
that ever existed. And the last stat I saw was
recently and I think it was this last year.
And moving forward, they're printing a trillion dollars
every 100 days. Like if, if that math doesn't
scare you and you don't realize you are getting poorer every
hundred days by a significant amount, like I don't know what
will. And every time I go to the
grocery store, I'm like, man, these rib eyes are getting more
expensive. What's going on, at least in
dollar terms. Obviously in Fiat terms,
everything's getting cheaper. But you're like, man, it's
almost like the money's broken. What's actually going on out
here? And they're like, no, guys,
trust us, trust the experts. We can control what's going on
here. And you're like, I don't know,
it looks like it's completely out of control guys.
But hey, what do I know? I'm just a stupid big pointer
here. So man, absolutely incredible.
Adam, you want to chime in real quick before we get to dunking
on Jamie Dimon? Dude like, well, I can't wait to
dunk. I I mean we.
Can dunk. Let's let's just start dunking.
Let's just start. Dunking.
Yeah, yeah, let's let's, let's just dive into dunking.
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Anyways, I want to read one comment in here 'cause I, I
think it's hilarious. Lars Larson goes, you can't get
poorer if you don't have any money.
This, this is what all the politicians and bankers are
saying. They're like, you're not getting
poorer, guys. You don't have any money.
How can you get poorer if you're literally broke already?
Absolutely love it. All right, guys.
So as you can see from today's title, Jamie Dimon comes out
again. I didn't, I couldn't, I didn't
even connect all of the Jamie Dimon's videos of him saying,
you know, Bitcoin for money launderers, it's a fraud, it's a
Ponzi. You know, I, I didn't even get
the Jack Mahler's clip of him, 'cause basically saying like,
oh, what, what do I care about Jeffrey Epstein's banker telling
me that Bitcoins freaking for criminals like in money
launderers. Like I, I, I could have done all
that, but we'd be here for way too long.
So I just wanted to start with the one that we just saw what
was this December 6th, 2023. So about four or five months ago
where our favorite Karen in Washington, DC, Elizabeth
Warren. And do you guys see she's trying
to like ban smartphone monopolies today?
They just love to complain. Anyway, it's totally different,
different talk. So we have Elizabeth Warren and
JP Morgan CEO Jamie Dimon both hate Bitcoin because it
undermines the regime's monopoly on money.
And we're going to dive fully into that.
Eric and Adam touched on that in the beginning, but I, I just
love this video here. When, when Elizabeth Warren and
Jamie Dimon agree on things, you got to know something's wrong
considering Elizabeth Warren basically built her platform on
the Occupy Wall Street. She she built her platform to
fight the banks and that she's just giving literal softballs to
Jamie Dimon. Let me just play the video and
then we'll catch the newest one and then we're going to dunk
super hard on Jamie Dimon. I've always been deeply opposed
to crypto Bitcoin, etcetera. You pointed out throwing a true
use case for it as criminals, drug traffickers, anti money
learning tax avoidance and that is a use case because it is
somewhat anonymous not fully and because you can move money
instantaneously and because it doesn't go through as you
mentioned all these systems have built up over many years.
Know your customer sanctions O FAC it's didn't get bypass all
of that I if I was the governments I'd close it down
OK, I've. Always been.
Well. The funny thing is, is.
Close it. Yeah, exactly.
Well, you know, The funny thing is, is like, you can't shut it
down, Jamie Dimon. Like, that's the beauty of this.
And like, who asked you whether you can shut it down or not?
Like, of course Elizabeth Warren asked him.
But again, he's been saying this forever, jumping at him.
It's like, hey, yo, all these criminals, they're breathing a
lot of oxygen and I'm not happy about that.
And so we should just just erase the oxygen?
That's it. No more oxygen.
The bad people are using it to breathe and live and we should
just cut it right off. close the oxygen please.
It's like, what an idiot. Yeah, and and really, while you
were saying that, really reminded me of like the initial
release of the Internet. They literally used the same low
hanging excuses to stop the Internet.
And look where we are now. No one's gonna stop the
Internet. We're not going back to a world
without the Internet. And you can say the same thing
about Bitcoin. Bitcoin is literally steroids on
the Internet. Dude, it's, it's proof of stake
mindset. It's, it's when you've been in
control for so long, you just don't actually have the ability
to conceive that you're no longer in control.
It's like it's, it's, it's fascinating to watch these Fiat
maximalists try to prevent what is right for the most people
because they know there's pain for them.
They know it's going to hurt them and their bloodlines and
they can't get on board. It's like just.
That and I'm glad you brought that up I'm glad you brought it
up before I play the new recent clip where he's basically saying
the same thing I'm really glad you brought that up because when
a new technology comes in when there's a new iteration and and
there's a change in the system the people that are controlling
the system, they will fight tooth and nail every way
possible to maintain their position and that's what we're
seeing right now and that's why Jamie Dimon is so afraid of
Bitcoin. That's why Elizabeth Warren is
playing cover for the banks as well.
That's why all the central bankers out there are so afraid
of Bitcoin. I was naive for a while where I
was very, you know, arrogant in my Bitcoin takes up like, no,
they just don't understand it, man.
Like they don't understand the blockchain.
They don't understand the technicalities.
Like they, they don't really know what's going on.
It's like, no, they fully understand one thing and it's
that Bitcoin will destroy their power over money.
And This is why they act so stupid on the television.
This is why they call you a money launderer, financial
terrorist, super shadowy super coder, and all the other they're
crazy stuff. They call you a money launderer
when he's literally the one money laundering, like the
projection is out of control. Anyways, let's watch.
Let's watch the recent clip. It's the same thing, but you
just love that he's doubling down.
And I just got to bring on some receipts about the billionaire
FUD playbook that we always see happen.
And you can't make this stuff up, but until you see it, you're
not going to see it. So This is why we keep dunking
on these people. Crypto, if you mean crypto like
Bitcoin, I've always said it's a fraud, so no hope for it.
Well, if it's if they think they're a currency, there's no
hope for it. It's a Ponzi scheme.
It's a public decentralized market.
Crypto. Oh man, Ponzi for the people.
Shouts out to Bitcoin. All right, and I'm gonna I'm
gonna really go hard on the whole Ponzi idea in a minute,
but I want to bring up some receipts guys.
And this is just the old article about basically JP Morgan being
the authorized participant for the BlackRock ETF.
So on the one hand, he's coming out, he's like, I've been
calling Bitcoin fraud forever, man.
Like it's a Ponzi scheme, bro. Like you don't want to own this
Bitcoin thing. And then on the back end he's
like, yeah, you know, like if you dumb people want to buy
Bitcoin, like I'm gonna, I'm gonna get rich off of it.
So don't listen to what they say guys.
Watch what they do. And just for people that don't
know, you know, I'm over here on Investopedia.
What is an authorized participant?
An authorized participant is an organization that has the right
to create and redeem shares of an exchange traded fund, the
ETF. They provided a large portion of
the liquidity in the ETF market by obtaining the underlying
assets required to create the shares of an ETF.
Again, he's literally holding Bitcoin to be the authorized
participant for the BlackRock ETF and yet he comes out on
television and straight up lies to the people out there that he
hates Bitcoin. It's a fraud, it's a Ponzi.
It's like, man, which one is it bro?
This is why I tell you all the time, the billionaire flood
playbook is the same thing that you, once you see this happen,
you understand what they do. They come out, they say they
hate Bitcoin for frauds, for money launderers.
It's for criminals, it's for financial tariffs, whatever they
wanna paint us at. And they try to manipulate the
price. They try to suppress the price.
They get Bitcoin at a good price that they want.
They stack their bags and then once their bags are packed,
they're like, oh, yeah, bro. Like, you know, I love Bitcoin.
I always saw Larry Fink do the same thing.
And like, Jamie Dimon is just continuing to do the same
playbook. He's trying to pack his bags.
He understands what's going to happen when we finally get the
next leg up in this bull running.
Things get crazy. And of course, I told you I was
going to. I was going to touch on the idea
that Bitcoin is a Ponzi. Well, I don't know.
We kind of touched on it earlier, but I think the real
Ponzi is the dollar. It's literally backed by thin
air. It's literally debt that the
cantion inside profit off of. They can print money out of thin
air to acquire assets. We get left holding the bag and
this one. This is outdated.
I couldn't find the 2024 version but just a visual picture here.
The dollars worth the purchasing power of the dollar has been
decimated since 1913 and it's gone even down as we were
telling you earlier, they printed roughly about 50% of all
dollars in existence that ever been existed in 2020 to 2022 and
beyond. So I would say that our
purchasing power is probably at like, I don't know, $0.50 Now
who who knows? We you'll never know because all
of the data is faked and no one has any idea.
But even according to their official data, it's going
absolutely parabolic. Guys, this is the Saint Louis
friend own charts of the M2 money supply.
Here's 20, 20. You can literally see the jump
here from 15 to 21. And I think this is continuing
to go up even though they're manipulating the numbers and CPI
is going down, bro. Like, trust us, bro.
Everything's good, bro. But I love the US debt clock,
and I think this really drives a point home.
We're almost at $35 trillion, guys.
This is literally unpayable. Like by definition, there's no
way we can pay this debt back. And even by their own
calculations, the US federal tax revenue, they're only bringing
in $4.7 trillion of actual theft from you guys.
So which one's the real Ponzi, guys?
Is it the dollar or is it Bitcoin?
Is Bitcoin the Ponzi for the people and the dollar is Ponzi
for the Fiat cantillion Insiders like what is going on here?
And on that note, let me full screen myself real quick.
If you are listening to these people, the very people that are
the problem, the very people that are controlling and
manipulating the money supply, you are not going to make it
like you need to unplug from all legacy media.
You literally have to laugh at the official numbers because
they are all faked. I keep on getting reminded of
when Balaji came out a couple months ago talking about the
USSR and how they used to fake the factory numbers and then
eventually everything they were producing just fell apart.
Well, we are in that position in the USSA.
Except for they're not faking the factory numbers here,
they're faking all the financial numbers.
Hence why if you listen to any of the official data out there,
you're lost in the sauce. You're completely detached from
reality. Your life is going to get
harder, you're going to get poorer.
So you need to stack SATS. Get off 0, continue to stack
SATS, continue to take Bitcoin into custody.
This is how you win, go forth and prosper by saving in Bitcoin
and it's a man life's so much better than you can just laugh
at Jamie Dimon and his friends out there.
And this is what we do here. Anyways, I'm going to start with
Eric 1st and then we'll we'll wrap it up with Adam.
All right, wow, let's see if I can unpack this here.
I got a lot of thoughts. I'll try to distill them down to
the most important things here. So First off, I have a friend
who always tells me that I give too much credit to the people
who are running the show. He's like, these guys are
idiots. I like to think that these
people are intelligent and they know what they're doing.
So from that perspective, Jamie Dimon is the CEO of a bank.
He's not an absolute buffoon. He has to be somewhat
intelligent to get into that position.
And so TikTok next block, right? The only way to suppress the
Bitcoin price, it's not by issuing more Bitcoin.
It's not by, I don't know, splitting it or whatever, right?
There's only one way to do it, and that's to create confusion
within the marketplace to deter your everyday individual from
purchasing it. And we're indoctrinated in what
I like to call government indoctrination camps.
Most people call them schools. We're told to believe, told,
we're told to believe the government and what these
important officials say. And so I think it's a it's a big
distraction so that they can figure out how to develop a
position. You know, it's game theoretic.
We all, all of us Bitcoiners understand the game theory
behind this. You need to adopt this
technology or you have an existential crisis, right?
And so it's like, you know, what comes to mind is, is some
blacksmith a long time ago. I'll botch the details, but
you'll get the point. He takes it, takes a bunch of
iron and makes a tube and puts a ball in it with some gunpowder
and creates a cannon. He goes to the Ottoman Empire,
to the emperor, and he's like, hey, check it out.
I got this new technology, right?
You really want some of this? It's a kinetic power projection
device that's really going to help you defend yourself in this
this world of warring nations, right?
The emperor says, no, you know what?
I got the biggest, baddest castle ever.
I got it. Look at my walls.
You can get fucked. You want too much.
I want none of your capitalistic entrepreneurial ways.
You could take your technology somewhere else.
I want none of it right? What does he do?
He goes to a neighbor warring nation of some sort, some
Sultan. A year later this motherfuckers
castle is getting blown to smithereens.
And so I personally believe that Jamie Dimon, he fully
understands what he's grappling with.
He fully gets it. And so if you're buying into the
FUD and you're buying more dollar derivatives because
you're listening to the bank, the CEO of JP Morgan Chase, who
also by the way, doesn't he get fined like every couple years
for spoofing the silver mark? Like so if you're believing this
guy like I have AII would suggest that you wake the fuck
up, right? And so on that note also, I'll
just throw this in there since we're going silver and my humble
opinion is an absolutely terrible investment.
It's a terrible monetary instrument.
The idea makes sense. But here's the problem.
Once again, I'm a commodity producer.
As the price goes up, the incentive to dump more on the
market goes up. So if we have a price pump and
silver and it goes to $4040 an ounce or something, you're going
to make a bunch of unprofitable miners profitable and they're
going to go rip up the forest floor and dump more on the
market. That and there's no way to to
know how much silver there is. It's an unauditable supply.
Terrible investment. Absolutely a terrible
investment. I used to buy gold and silver
before I had the epiphany, mind blowing understanding that
Bitcoin is the hardest substance.
Sailor says this hardest substance in the known
motherfucking universe, right? And so, yeah, JP Morgan Chase,
you know, Jamie Dimon, he's full of shit.
He's lying. He's doing it intentionally.
He's not a dummy. He's the CEO.
He didn't just wake up yesterday and get hit in the head and
forget how to become a successful individually.
He climbed the ladder. He does what he needs to do to
win at the game, right? This guy's a winner.
JP Morgan Chase, they've been winning in the Fiat paradigm.
The strategy has now changed because there's a new monetary
instrument within the marketplace and they want to
develop a position. And if they came out, if he came
out a couple years ago, so, and it's like, yeah, this is a super
fascinating thing as as the demand increases, the supply
doesn't change. That's a big deal.
As a matter of fact, we've been spoofing the silver market
because we like the supply and dot supply and demand dynamics
around silver. The price would rip if Gary
Gensler came out, which we all know what he believes.
And it's like, look, all these other shit coins are
unregistered securities and we're going to sue them all.
And the United States government is really slow.
And I don't give a fuck if it takes us 100 years.
We're shutting them all down. You know what happens is a bunch
of plebs sell their dog coins and they move into Bitcoin and
the price is going to be fucking $1,000,000 a coin.
And Jamie Dimon and all his, I don't know, unethical scumbag
homies are going to have to buy $1,000,000 Bitcoin instead of
$70,000 Bitcoin. So if you can't see through
that, I advise you wake up, Pay attention.
These people have a history of lying.
It's a, it's, it's game theory. It's the oldest trick in the
book. Yeah, that's what I think.
Man, love it. Love it.
Dude, I knew today. Oh, oh, yo, I knew today was
going to be a rip of a show. All right, guys, before I pass
this over to Adam, we have 1200 people watching right now.
Smash the like button. If you think we're going to rip
it even harder in the last, what, 30 minutes of this show?
Smash the like button, share all this stuff, But I do want to
read a comment. Shouts out the golden ego.
You gave us a $50 super chat. Absolute legend.
Really appreciate it. You know Super chat $50.00, the
old legacy finance people are at it again when BTC or with BTC.
Is Jamie Dimon having an OK boomer moment?
No, he is just straight up lying.
He's straight up lying at this point.
All right, Adam, what's your thoughts on all this stuff?
I know there's a lot to unpack, but rip it.
Which angle do you want to take this?
Yo, they're getting lazy. They're just they, they just
disrespect you with those kind of takes.
It's it's, it's a very proof of stake mindset.
And honestly, I think it goes much, much deeper than the
dollar. They want to control.
They want us to be in a state in a position where we have to
listen to them because they are the experts, because they are
the ones that have made you rich in the past.
The problem with Bitcoin is that everything loses its value
against Bitcoin, right? We all say Bitcoins going up,
but like I said, it's Bitcoin or it's dollars and everything else
going down against Bitcoin. What's the point of the bank if
you can just hold Bitcoin in self custody and stay wealthy?
There's just there's a catastrophic end coming to their
reign. Eric said it as kings, as fake
kings. And they know it's coming.
And so they're doing everything that they can.
They're like a little kid in a grocery store.
Like I've got 4 kids. I know what this is like when
they want something and you're like, lower your time
preference, son. No.
And it's like clawing and grabbing at the ceiling.
You know, you're carrying them out by their by their torso and
they're just like having a an emotional child moment.
This is the Fiat industry that we are currently in.
This is the point that we are currently in, you know, the
stages of of grief, the stages of denial that that that they
are currently seeing is just out of hand.
And I don't think it's going to get better.
They're going to continue to lie.
The fact that they can so arrogantly, like if I went into
the land of the Bitcoiners and I said, hey, just so you guys
know, you know, Bitcoin supply is not capped, I'd be ripped
apart because everybody's aware, everybody's awake, everybody's
educated, everybody's audited the code or at least trust
someone that has audited the code.
And we know that's wrong. This guy has had so much
control, so much power. He's had the ability to lie to
us for decades and he gets away with it.
He keeps printing himself or he's friends with the guys.
His buddies in in in parliament print themselves to have these
self fulfilling prophecies, these lies that he's been able
to tell. And you can't do that with
Bitcoin. Bitcoin exposes the lie.
Bitcoin exposes the Fiat mind virus.
Bitcoin exposes the way that these people have been able to
treat us for centuries. And finally, finally, you're
going to get rid of this lying, the incentive to lie, the, the
incentive to to fight each other.
Because under a Bitcoin standard, there's no more
fighting, there's no more war, there's no more you in
competition with your neighbor in the unhealthy way.
There's just friendly competition.
There's competition like when I want to be a better host than
Opti, all I got to do is show up and work hard.
And Opti has to show up and work hard and everybody else just
gets a better product at the end of it.
But that's friendly. Opti and I are still going to
DAP it up and be like, that was busting stray gas blessing.
No cap, no cap. We know what's happening.
But when you insert this third party, when you insert this,
this manipulative environment, then Opti and I get into cheater
mode. We get into fight barbarian
mode. Not in the good way.
I start taking his knees out. I take low blows.
He's incentivized to do the same.
Because we're no longer in a free market.
We're no longer in a market that encourage us, that encourages us
to be our best self while also being honorable.
We remove the honor from the system when you remove the
integrity of the dollar. Bitcoin is full integrity, which
means a Bitcoin standard will have full honor.
Remove the liars. Start with education.
Educate your kids. Have more kids.
If you're married, have children.
If you have Bitcoin, have children.
It is absolutely the best way to prevent the Fiat mine virus from
spreading throughout the earth. We need to be bullish on the
next generation. Don't stack for your first name,
stack for your last name. Well, you know, Adam, you're
really, really earning your stripes on today's show as Co
host. That's two Opti dunks.
OK, All right. You're really you're really
you're really making some some waves here.
When what are like, what are the chances we just got like a legit
dunk tank and we can just throw like apples or something at the
at the like, you know, dunk Opti.
As long as they're paying in Sats, I will do it.
I'll, I'll. Do it lightning dunks.
Dude, we got Opti's Taco feeder. We're going to have Opti getting
dunked feeder. All right, anyways, anyways,
let's get in the culture guys. I, I already know what we're
going to talk about and I think you guys are going to really
enjoy this conversation. It's it's not going to be all of
us agreeing for once. We might have a little debate on
today's show in the culture. So you guys are going to love
this one. The daily culture.
All right, guys, before we do that, scan the QR code.
I'm I'm I'm getting confused over here.
Make sure you go to orangepillapp.com stack friends
who stack sats guys, if you're traveling and you want to hang
out with bit corners, if you want to find a local meet up, if
you just want to chat with bit corners and see if there's even
bit corners around you, get on the orange pill app, connect
with Bitcoin and rather connect with bitcoiners.
This is the most important thing to do.
Look, we're all on the Internet. Yes, we're doing all this
remotely, but there is a fundamental difference when you
hang out with bitcoiners in person.
If you are the sole crazy bitcoiner in your community at
home, if all your big, all your normie friends are like, man,
you're crazy. What are you talking about bro?
Get on orange Pearl app, connect with bitcoiners.
This is the way guys. This is how we win is by
building strong communities within meet space.
This is the way all right and the next one shouts out to the
boys over at kaboom racks. They're the goats.
I absolutely love these guys. They got an awesome team, huh?
Say it. Say.
It. They busting for real?
No cat. The best place to buy, sell and
host your Bitcoin mining equipment.
We're going to see the halving tonight today at some point
maybe tomorrow who knows, but if you've been thinking about
getting some a six you've been you know getting the itch to get
into the Bitcoin mining space, get in touch with the kaboom
racks team. They will answer all your
questions. Shouts out to my boy Alex.
He was telling me the other day that there might be some
fireworks in the public Bitcoin mining space.
So S nines and S 19. They might be on sale.
You might be seeing a fire sale out there, guys, but if you have
questions, if you have concerns, get in touch with the team and
they'll walk you through this. They'll literally tell you if
you should be mining, whether it makes sense to you or not.
And they're not just going to sell you stuff just to sell you
stuff. They want to make sure that you
understand what you're doing. So shouts out to the Kaboom
Racks team. There they go.
It's out there. All right, guys.
Anyways, we got a great, great rip.
So first and foremost, Eric came on last time, was absolutely
ripping it and he wanted to re kind of hint on the idea of
regulating Bitcoin. So I'm gonna tee you up on that
one. Eric.
Let's talk about your thoughts on regulation.
I'll pass it over to Adam. I know you guys may or may not
agree on. And then we're going to talk
about the six one O 2, which I know you guys aren't going to
fully agree on. So Eric, jump on the idea of
regulating Bitcoin and then we'll segue into what might be
future possibilities on 61O2. Yeah.
So, all right, I look at this through the perspective of being
a cannabis producer. I've been producing cannabis in
the state of California professionally since 2009.
And a quick little. History here in 1996, Prop 215
was passed, that was medical marijuana.
So you could you could start A5O1C3, which is a nonprofit
corporation and you could distribute and share medicine in
between your patient collective, right?
And what unfolded as a result of the economic incentive, because
there was so much more demand for cannabis than there was
supply, meaning there was a huge margin, right?
And so a multi billion dollar industry developed in the state
of California, epic, huge, you know, industry people know who
have been to California, you know, dispensaries were popping
up on every single corner, etcetera.
And in night in 2015, the governor at the time, Jerry
Brown signed into effect a bill called MERSA, the Medical
Marijuana Safety Regulations Act.
And he did so preemptively, knowing that the probability
that in 2016 that the people of the state of California were
going to vote into effect Prop 64, which was adult use
recreational cannabis and MRSA put into it, led the way for the
most basic regulatory framework. And as an example, essentially
what MRSA said is, is that the county, the small municipalities
can either prove or deny cannabis activity within their
area. And if you're going to approve
it, you have to launch a land use ordinance and you got to
create whatever rule set you're going to have.
Once the county permits, then the state will license.
And it was a great carrot and a stick type strategy where if you
come in to compliance, as they say, come into compliance, we're
going to put you on the fast track to getting approved for
your state license. And the whole industry,
generally speaking, wanted to be licensed by the state.
These are business owners who have a passion for producing
cannabis. They believe in what they're
doing, so on and so forth, right?
And as an example of what unfolded in Humboldt County,
which is where I reside and where I've been producing
cannabis, visible via satellite, you can take a tour on Google
Maps and you can see all these farms.
They're giant greenhouses that are visible from space.
There was 12,600 and some odd farms.
When MERSA was signed into effect.
There was nine months and Hubbell County came right out of
the gate and had a land use ordinance.
It was revolutionary. They were the first on the
scene. There's the Mecca of cannabis
production in the country, in the world, whatever, right?
So they're progressive. They have their land use
ordinance. They say you need to register
your farm in nine months, by the end of the year, by the end of
2015 out of 12,600 and some odd farms determined to be of
commercial scale. This isn't.
This isn't like warehouses. This isn't people growing
cannabis in their garage. This is large scale farms
visible from satellite. 123 people turned out and registered
their farms. The cannabis community at large
says you can get fucked with your regulations.
You want us to put in big roads? You want us to put in live
streaming video footage. Your fees are excessive.
This is crazy. And you know what the government
did instead of sending letters, which they could do to the
property owners, which is all public information, instead of
sending squads of SUV's out to go and to penalize these people
or shut them down. You know what they did?
They went back to the drawing board and they came back with
much more favorable terms. They bent the knee and they
capitulated into the preferences of the business owners.
Why? Because they want the taxes,
they want the licensing fees, they want to regulate this
industry because they need to make money, right?
So when I think about that and I think about Bitcoin, you got
visible farms from space that are, you know, and our
dispensaries, etcetera. You got brick and mortar
locations that you can find very easily.
Now let's think about Bitcoin. Can you even prove that somebody
has their Bitcoin if they sent it into self custody?
Last time I checked, every wallet spins up a new receiving
address. Did I buy something?
Did I send it to the right address?
Do I have it? And if I do have it and you can
prove I have it because I bought KYC.
Oh here's another example. I actually know if I have.
I have a couple friends. I got a buddy who lost 2 coins
because he threw away a hard drive because they were worth
like $500 a piece or something. He determined it wasn't worth
the fees that he would have had to pay to get the hard drive
recovered, so he tossed it. It was KYC.
What is the government going to do?
Are they going to send some vehicles to his house and water
board him in some key extraction camp while they're feeding him
bugs and he doesn't even have the Bitcoin?
It's an energy in energy out world.
You have to collect money and you, what your business
practices are, have to be profitable.
And so if you go around trying to rally up people's Bitcoin,
you're going to fucking go out of business.
You're not going to get the Bitcoin.
And I watched the government bend the knee to the cannabis
community with brick and mortar locations.
They can't get the Bitcoin, You know, what does sailors say?
It's trillions of times more energy to try to launch a 51%
attack at the network than it is to protect it because of the way
the miners operate versus the node.
My node, what does it run? What does it take for my node to
catch a fraudulent transaction? I don't know, a penny, a couple
pennies, a fraction of a penny's worth of electricity.
I believe that same that same concept applies to confiscating
somebody's Bitcoin. How you going to get the
Bitcoin? And another thing that comes to
mind is is the photo and I don't know the details around it.
It's just the image. Some guy sitting on his knees or
sitting on the ground in front of a tank.
He's like, look, you fucking evil doers could get fucked.
You're going to have to run me over.
I'm trying to stop this perpetration.
How many people are actually going to give up their Bitcoin
that have Bitcoin in self custody?
They're not even going to do it. And here's what I'll say.
Lastly, the current construct, the current system at and and in
place can print money. Why would they go around trying
to steal people's Bitcoin when Bitcoin is the hardest asset in
the marketplace and we have a debt based Fiat monetary system
where monetary units have to be lent into existence as debt
against assets? Well, I'm just an ADIQ pled.
I'm a fucking farmer dude. If I think about this from the
perspective of being a banker, I'd rather lend money against
Bitcoin. It's better than letting money
against the house. And now is the bank.
I'm taking possession of the Bitcoin.
Why would I even go and try to 61 O2 doesn't even make sense.
And then what? The government goes to Coinbase
so they say hey, you have all this Bitcoin, you're a big
honeypot. They steal the Bitcoin, What are
they going to do then? Sell it overseas to fund their
plunder. They can't spin the Bitcoin into
the marketplace. They can't stop the people from
having the Bitcoin. If the if all the governments
were truly colluding together in an effective manner, I'd be more
concerned about it. But there's just as much divide
and competition on a macro level in the marketplace as there is
on a micro level in the marketplace.
And so if they start lending money against Bitcoin, they take
possession of Bitcoin. And so why would they try to,
to, to confiscate it if they can lend against it And it's supreme
collateral. Let's say, for example, I go,
I'm moving to a Tennessee as an example.
I moved to Tennessee and I get a job and I'm living my happy
little American dream or whatever, whatever we have left
of it, right? And, and I'm remodeling my house
and I got a fucking mortgage and someone rear ends me And now I
got back problems and I go to the doctors and the Fiat doctors
give me some fucking opioids and now I'm all fucked up on opioids
and I lose my job and, and I go BK and the bank has to, to, to
repossess the house and they got I go into foreclosure.
What if my house is ripped the shreds because I'm in the middle
of a, a remodel? I have the legal right to do it.
As a matter of fact, I'm incentivized to remodel the
house so I can get some of that equity.
I can flip it for a profit, right?
Well, honestly, a house is really shitty collateral.
They lose money like cars do. It's just an optical illusion
that's taking place because we value the house denominated in
dollars, which is another moving metric.
You don't. Most people don't realize that
their houses are actually losing value.
They have the optical illusion of it appreciating in value.
So I believe the banks are going to come online with a, with a AB
lock dude, they're going to, they're going to roll out the
orange carpet for us guys, we have leverage in a way we've
never had in all of human history.
If you have Bitcoin in self custody, you're in, you're in a
position of power. You know, listen to sailors say
in a, in a, in a podcast, he goes, you know, I don't know.
And these are my words. But the overlords, essentially,
they have contempt for the weak. A bunch of weak, starving, sick
over, you know, you're nutritionally deficient, you're
overweight, you're eating a bunch of marshmallows, popping a
bunch of pharmaceuticals, living off of fucking welfare.
They don't want you. They have contempt for you.
But if you, if you're powerful, they respect you.
They have respect for us. And so, yeah, I don't think
they're going to 6102 US. I think it's an absolutely
enormous waste of energy. The current political regime has
the ability to affect monetary policy, the banking bloodlines,
they can print money, they can lend money into existence as
Bitcoin. Bitcoin also to measure the
inflation in the economy like Saylor says in Lex Friedman
interview, he's like, you know, you can't measure inflation as a
as a scalar. It's a vector because you have
supply and demand dynamics taking place across the
marketplace and different rates, right.
Well, if housing goes up 5X over the next 10 years because they
have to continue to debase the currency at hyper rate and we
have that proverbial hyperinflation, people could be
fucking homeless. That's a problem.
But if Bitcoin is some extreme arbitrary example goes from
62,064 thousand or whatever it is today.
So let's say 64,000,000, it doesn't hurt anybody.
It's invisible, right? And so actually also, and I'll
leave my thought at this, if the bank start loaning money against
Bitcoin in the form of AB lock, because let's not forget we have
a debt based Fiat monetary system where monetary units have
to continue to be lent into existence to keep the dollar
denominated value of the assets going up.
They now have Bitcoin on the balance sheet, right?
And if the Bitcoin hyper inflates, then their balance
sheet shreds. And if their balance sheet
shreds, they don't don't need a bailout anymore.
So I personally believe the more and more I think about this,
Bitcoin is unwinding the detachment from reality or the
limitations of the physicality of gold.
It's like we it's like, it's like when metallic is like, oh,
well, yeah, proof of work. We're limited to the laws of
physics. But if we create a proof of
stake protocol, we can have our funny loony cat purse fucking
whatever reality. We could do whatever we want,
right? And so it's bringing prudence,
it's bringing responsibility, it's bringing solvency back into
an entirely insolvent system. And I think it's absolutely,
absolutely ridiculous to think that they could even effectively
attempt to 6102 US. Love it.
OK, Now on the flip side, Adam,
you're a big 6102 advocate that it's coming.
You literally have it on your wall right there.
So I guess maybe playing devil's advocate, or rather what what is
the opposite view here? Yeah, man.
So let me be clear, I'm not a 61O2 advocate.
I'm just deeply petrified of A Yeah, don't hit me with that
fudd off D. Wait, wait, wait.
I I I got to fudge you a little bit.
You've been ducking on me all day.
All right, all right. Go, go, go.
Yo listen and like feel free you don't have to full screen me
like if you want a full. Screen.
OK, All right. Yeah, we'll, we'll do.
We'll keep a conversation. Here's the thing.
Eric's bang on. Except for the fact that it's
very, very easy to 61 O2 your coins that are not in self
custody. And they're going to do that for
the same reason they did it in 1933 because they need the real
assets on their balance sheet. The only reason the US had so
much gold is because they stole it in 1933.
Otherwise they have no gold to print against, right?
And this is the illusion that has to happen right now.
Our dollar is completely debased, completely outside of
any real sense of asset. The only saving, they know this,
the only real saving the US dollar has is Bitcoin.
And how are they going to get the Bitcoin?
They can't print more Bitcoin to spend it.
So they're going or take to get it.
They're going to make it illegal.
Adam supports the 6102 No. Quote me on that.
They're going to steal it. They have to steal it.
When when this happened in 1933, they took all the gold and then
miraculously the next year, the the gold was worth twice as
much. This is the this is the Fiat
optics at play. And so I think it's a little
bit, it's giving the Fiat lizards a little bit too much
credit to say they won't 6102. The easiest thing they could do
is walk up to Coinbase and be like, yo, by the way, this is
illegal. Now you have to give us the ETF
coins, give us the people's coins, give us micro strategies
coins, give us the Canadian exchanges coins, give us
everyone's coins that we want. We're going to take them.
They did this with Mount Gox. They were with, with the Silk
Road. They were actively selling off
the Silk Road coins for a profit.
They, they literally confiscated the Silk Road codes coins 61O2
style. Then they held them for four
years and then sold them for a wicked profit.
Like it's, it's happened before in our recent history.
It's happened before in our previous history with the 61 O2.
It's going to happen again because otherwise the dollar
fails. And I don't think the government
wants to go through that much pain.
And, and, and frankly, the pain at which it causes the citizens
will be so extreme. When people have Bitcoin, it
causes people that don't have Bitcoin pain.
I think you're bang on. When Bitcoin goes up, it doesn't
cause anyone pain in the short term.
However, as Bitcoin goes up and as we have a Fiat mindset, this
in term is where all the pain is as we get to a Bitcoin standard,
as Bitcoin exits, like we all remember what puberty was like,
right? My legs were always sore, right?
Growing all this API doesn't know, but growing facial hair
like this is painful. This is like, this is part of
what it means to be a man. And, and, and when you go
through those growing pains, we have to understand that the US
is going to, to try to make it as painful as possible and, and,
and reiterate that pain into us so that we stop.
But the silver lining here is if the US does that, and this is
where gold and, and, and Bitcoin differs, we leave, we grab 12
words in the old Dome and we bolt and then the US fails and,
and we can come back. Bitcoiners can buy it.
Bitcoiners will be able to buy the US.
Let's get like, you know, founding fathers, two point O
founding stackers. Let's go.
And, and I think that Bitcoin actively puts governments into
competition with each other. And you're right, there is no
world where every single government is actually colluding
together. We have the communists that
control countries like Canada and we have the, so the, the,
the so-called free market thinkers that are, that are, you
know, in the states trying to dunk on Bitcoin and, and, and
grasping at straws to preserve their, their fake money.
And I think that as long as that is is happening and the
governments are in competition with each other, Bitcoiners will
always have a place to go. As long as Bitcoin is in self
custody, because it is impossible to take my coins, I
do not care. My life is not worth my family's
legacy. You are not getting my family's
Bitcoin and you better believe we've got protocols, we've got
the exit plan in place if somebody comes knocking.
My family is safe. It is absolutely a fact.
When your Bitcoin is in self custody, you're winning.
But when your Bitcoin is sitting in, you know, let's go back
Mount Cox, Quadriga, FTX, now Coinbase, it's going like, to be
clear, I'm like forecasting there's nothing wrong with
Coinbase today. It's tomorrow that's going to be
the problem. #Drop, Coinbase.
#Drop Coinbase, when your coins are in self custody, they're
safe and you're not exposed to A61O2.
I hope I'm wrong. If the US government tries to
steal all the Bitcoin, it will be very very bad for the people
that do not listen. But you and I with Bitcoin and
self custody will be totally fine.
And that's the beauty of Bitcoin because it's proof of work.
Did you put the work in, grab your seed on a plate of metal,
on a plate of metal and take off like you can?
And so I don't know that we absolutely can, you know,
discredit A61O2 because I think it's quite easy for them to do
as the coins get more and more and more centralized.
And yes, they did buy, they bought the gold from the people
for $20 an ounce. They then said if you don't sell
us your gold, if you don't, if you don't take our $20.00 an
ounce, you're going to go to jail for six months and be fined
$10,000 in 1933, which today by the way is a quarter $1,000,000.
So, but to to their credit, they let you keep 6 oz six.
They said you can keep 6 ounces. And then somehow they paid the
people 20 bucks an ounce in 1933.
Somehow by 1935, gold was over 40 bucks an ounce.
Crazy. I guess the government's really
smart and timed that pretty good.
Guys. It's a manipulation tactic.
They just manipulate the money. They are criminals when they
steal your value. Love it, love it.
OK, I just want to chime in for a moment and then I want to give
Eric a chance to respond to that.
I think it's, I think it's very healthy to be cautious and
paranoid of this being a possibility and as a tinfoil
hat, a proud tinfoil hat bitcoiner, you know, I'm always
like, where are they coming after us, bro?
Like where, where's the attack coming from?
I, I definitely think it's a possibility.
It's a non zero chance that that may happen.
But I really like the framing that Eric is saying because I, I
really do think that as bitcoiners, we say it all the
time. You know, the free market
entrepreneurs will always outperform governments.
And even if they do try to do this, it'll it'll, it'll
basically be the end game for them for for the government and
the bankers that do it because it will prove our point for us.
I say it all the time and people think I'm joking when I say it,
but like anytime a government or a bank comes out against Bitcoin
or tries to ban Bitcoin, it makes me so happy because I know
I am correct. Like it makes everything we say
just very obviously correct when they're like, wait, no, this
Bitcoin thing is bad bro. Like you shouldn't own it now
I'm going to ban and you're just like, I if it wasn't a thing,
why would you try to ban it? That just goes to show that what
we're doing is correct. And we're just out here winning
so hard that they're just scrambling for the control.
And again, it's always about the control, or rather, it's always
about control and it's always about the control of money.
And so the more they try to control Bitcoin, the more they
try to control the Fiat system, the more you know it is getting
out of control. It, it, it's like their
gaslighting. Just you got to read through the
line the, you read retreating the weeds here that it's because
they can't control you, which is why they are so pompous and so
loud and arrogant that they can control you.
It's like, no, like what's that one meme?
Like you have no power here. Like that's what it means when
you are holding Bitcoin in self custody under keys that you
control. Anyways, Eric, what's, what's
your thoughts on this? You want to respond to this?
And, and we are running long and I do want to get the, the meme
review here, but this is some signal.
So if we go longer, guys, sorry, we're going to do meme review on
Monday. Respond Eric Well, First off, I
am definitely an advocate or a proponent of being skeptical.
We are we're the descendants of people who raised an eyebrow,
right? Like the people who just bought
into whatever kind of bullshit narrative was implemented by
some scammy overlords generally over the last many years, 100
thousands or whatever millions of years those people got led to
the slaughter, right? So it's.
I think it's prudent for us to be skeptical and protect
ourselves. But pre I, I called the BB world
before Bitcoin, everything within the, the marketplace or
within our, our, our, our reality was corruptible.
Bitcoin is this the essentially it's essentially the discovery
of incorruptibility, right? And so why people, and This is
why I think a lot of the normies or the boomers can't even wrap
your mind or their minds around it where you're like, hey, look,
here's this, this, this monetary instrument that's behind a wall
of encrypted energy. Nobody can steal it from you.
Nobody can censor it. I mean, even Ray Dalio's like,
they'll shut it down. It's too good to be true.
He's looking at it through the lens of the old world.
As far as I'm concerned, we live in a fundamentally different
reality. Satoshi changed the fundamental
fabric of this reality. And so you have an incorruptible
protocol, First off. Secondly, the government or the
people, the citizens of the United States at the time that
the 6102 went into effect, We're aware that the certificates, the
dollars, the political currency units circulating within the
economy were representative of gold.
Gold was the underlying asset that the government help, the
banking institutions help. So they went to the marketplace
or the citizens and they said, hey, we need all this because of
national security. You need to let us buy this from
you because it's how we're going to save our country from the
other plundering nations who are going to come here and blow you
to motherfucking smithereens and take all your shit.
People are like, OK, I guess I have to do it.
It's my duty. I like living the American
dream. I want to continue to live in my
house. Well, we aren't on a dollar
standard or a Bitcoin standard with dollars backed by Bitcoin.
So how is it the government comes out and says, hey, we're
going to ban this thing and then you need to give it to us.
So, but you need to give it to us so that we could then back
the dollar with it. It's a flawed premise.
Not to mention the fact that it's an auditable supply, though
you can see the interest. It's the same way that we go
through mental gymnastics that you got.
To get a shot in order to protect grandma, right that you
got it. Like dude, here in Canada we
don't have plastic straws. We don't use plastic bags
because we got to save turtles. Bro, I live in Alberta, there is
no turtles for hundreds of miles and I'm choking down my iced
coffee with a paper straw in a plastic cup.
I get it. It's.
Give us, give us. Dude.
Yeah, give us the Bitcoin so that we can protect your nation,
but then we're going to spend it back into the marketplace where
we're going to further debase the currency.
And then you got Qatar just stacking sats, you got El
Salvador becoming. That's the problem.
But we live in a world where information.
Passes that hyper. Rate and now I can send my
Bitcoin and motherfucking cyberspace to the other side of
the planet with with final settlement within 10 minutes,
Taylor famously said. This Bitcoin can be gone in 10
minutes. Armies can't move that fast.
Only if it's in your custody dude.
Not if it's in Coinbase. Not if it's in ETF.
Well, do you think most of the bitcoins in custody?
Yeah. What's the numbers like?
70% of all bitcoins into custody?
Let's play this back. 19.5 million coins were were.
Speculating or saying that 3.5, let's just call it 2.5 million
coins are lost. We're down now to down to 17.
Let's say with all the ETFs they have a million coins.
What is that? 15,000,000 coins are held in the
hands of people across the world. 100% gotta love it for
for sure. I just think it's improbable.
It's and there and now mind you, there are people within our
government in the United States or governments across the world
that are nationalistic that do have good good intentions.
We all fall into this thought trap of everyone's evil trying
to fuck us over. And that's not everybody within
the system. And the worse it gets, the more
of it, the more of a cry there is for the populace.
That's why everybody in America is so fucking crazy over Trump.
You're like, oh please, some orange guy who can come save us
Bitcoin super. It's it's capital T truth.
It is the IT is the money. It's supersedes all other laws
before it. And if we didn't live in an era
where information passed that hyper rate and if you didn't
have an auditable supply and honest Ledger, I would be much
more concerned or I would think it was more probable that we
were in for a 61O2. I don't think it's a non zero
chance. But the more and more I think
about it, also being somebody who is quick to raise an
eyebrow, my bitcoins in self custody, I am by no means
advocating that anybody leave their Bitcoin on Coinbase.
What I am advocating is, is take the appropriate actions and then
don't live in a perpetual state of fear.
Because living in that vibrational state of fear is
kind of one of the strategies that you could say the
plundering scumbag overlords need to continue to keep us in
so that we're more susceptible to their thought and their
bullshit. So take the appropriate actions
and then don't live your life petrified.
Because if let's say for example, you, we're all forward
thinkers. If we have Bitcoin in self
custody. Let's let's all get real.
I'm going to take a vacation to somewhere that I think is safe.
And my Bitcoin, I'm going to start, I'm going to memorize 12
words. I'm going to put it into a
fable. I'm going to teach my daughter,
hey, here's this little story. If something happens to me, you
got to remember this story so she can access the Bitcoin.
It's auditable, it's invisible. It's it's, you can take it with
you. You can self custody it.
And then at the same time, they can't even prove you have it.
And so I just think it's not very probable, but I am a
proponent of insulating yourself and protecting yourself against
it. Just to be clear on that one.
I think I think that's the exact mindset.
And like for. Anyone that's known me and
talked and talked to me, they are fully aware I am not.
Some live in a fear mindset. But the only way you can act
like the only reason you have this perspective, the only
reason you can sit there and even consider that it won't
happen, is because your coins are in self custody already.
Because you are already protected.
You're already wearing your seat belt, bro, right?
You're not worried about your head smashing through the glass
because you know it's physically impossible for your head to get
there in the state of collapse. We don't put our seat belts on
because we think we're going to crash that day.
We put our seat belts on because in the unlikely event it might
happen, our, our faces are not going to get smashed through the
glass. Taking your coins into self
custody is the seat belt. And frankly, it's the seat belt
against the 6102. There's like, like, you know, I
think the days of the SPFS of the world are done right,
hopefully with regulation and like people are just going to
like actually use a platform that is disincentivized from
stealing Bitcoin. Now there's only two things
left. There's the honeypot and the
6102 and, and I think those are still real realities.
Bitcoin well bigger than coin base.
Let's go. I think those are still the
biggest realities on the planet earth.
But I think that we if we, if we as Bitcoiners, because keep in
mind, man, you say information travels fast.
It doesn't travel that fast. It travels fast in the small
group. Maybe there's like 20-30 million
people in the world that actually pay attention to what's
happening in the, in the universe.
Like, dude, if COVID showed us anything, it's that lies travel
faster than truth. And whoever controls the
narrative is who's going to control the people the second
they say that Bitcoin is boiling the oceans and that your Bitcoin
is causing war in Iran and that Bitcoin is causing, you know,
your grandma to die of slow and painful death, that Bitcoin will
be gone because the majority of people don't fully understand.
And I think that we're looking both ways before we cross the
street. We're putting our seatbelts on.
I'm not sitting here suggesting we grab our bunkers and our
backpacks and, you know, our camel packs and ration food.
I'm suggesting we take the appropriate steps to prevent
against what has happened in the past, what I believe is likely
to happen in the future, if not for your sake and for your
family's sake, because if your coins aren't in self custody.
And this is where we're all going to line up and agree your
coins aren't in self custody. You're exposed to somebody
else's decisions. And frankly, somebody else's
decisions are not what I want to be exposed to.
Definitely. Yeah, well.
I will add one last thought to that before you you continue on
conducting the show off. Yeah, yeah.
Jump in, jump in. So as a commodity.
Producer. Producing.
A commodity that's going down denominate and dollar
denominated value. You could say in some sense what
I've experienced on a micro level as an individual
participating in the same marketplace that our banking
system participates in. I've had dollar denominated wage
deflation and dollar denominated inflation and cost of living.
Well, as the government debases the currency, their cost of
operating increases requiring more debasement.
It's like they're proverbially shooting themselves in the
fucking foot, right? However, for me as adopting a
Bitcoin standard, and I consider myself to be living on a Bitcoin
standard in a, in a, in a jurisdiction where I have a
taxable event if I spend Bitcoin.
So even though I earn in dollars and I have to pay for my goods
and services in dollars, I sweep my surplus into Bitcoin.
So you can say it's a quasi Bitcoin standard.
I have a Bitcoin on my balance sheet.
It's my treasury reserve asset. It's my only treasury reserve
asset. Well, the appreciation that's
taking place on my balance sheet is so much that it's actually a,
it's a true hedge against my cost of living inflation on my
PNL, right? My, my, my, my OpEx that you
could say is my personal existence is increasing, but the
appreciation on my balance sheet is appreciating so fast that I'm
still getting wealthier. Obviously us Bitcoin maximalists
understand that well, a bank is just comprised of a bunch of
little me's or a bunch of businesses or individuals who
have the same thing, right? And so it's basically a
compilation of the same exact thing where the bank is holding
things on its balance sheet and it has to it has APNL, so it's
making money or it's losing money and it has assets that are
that are supporting it. The problem is, is that we live
in a deflationary world and the value of the assets that are on
the balance sheet of all these financial institutions in real
terms is going down in value. It's going up in value in dollar
denominated terms, but in real terms there it's losing value,
hence the need for a bailout. And every time there's a default
within the system, because it's a debt based Fiat monetary
system, you have exponentially more liabilities within the
system requiring exponentially more money printing to keep
those things going up in value. And now, so if you have Bitcoin
on the balance sheet of a bank, let's say, for example, let's
just play the thought thread out a little bit.
Let's say for example, instead of 61 O2 in US, they roll out
the orange carpet and they say, hey, we're going to start
offering B locks. We'll do a 25% LTV against
Bitcoin. You give us some of your Bitcoin
and we'll loan you some dollars at 25% of the value.
In some sense, it is like selling your Bitcoin.
You are, you are giving up possession of your Bitcoin to
somebody else. If they're loaning you money,
you're going to have some sort of debt you're going to have to
service, but it's giving you the potential to buy the debt back
at whatever it was that you loaned it to them.
Now the bank is. Well, for sure.
Yeah. Once again, we are the
descendants of people who are quick to raise an eyebrow, and I
respect your suspicious state of being OK if they have a default.
But the asset on the balance sheet that's backing all the
debt within the system is appreciated.
And also now mind you, let's say financial institutions in the
states are doing this. Qatar is buying Bitcoin, someone
on the streets and fucking El Salvador is selling papoosas for
Bitcoin. So they're pumping the bags of
the financial institutions that have Bitcoin on the balance
sheet backing the debt. So in some crazy sense, and once
again, like in the famous words of Big Lebowski, that's this is
just my opinion, man, right? The more I think about this, the
more I realize Bitcoin, not only does it makes Bitcoin makes
everything better, right? It fixes this.
That's the same within the Bitcoin community.
Bitcoin mixes Fiat and makes Fiat better at the same time.
It makes it irrelevant, kills it, replaces it, etcetera,
because it's supreme collateral in a debt based Fiat monetary
paradigm where you have to continue to lend units into
existence of debt against assets.
It's the best asset in the marketplace.
And so also, once again, it's auditable, but it's invisible.
It's behind a wall of encrypted energy.
How are you going to guess my fucking 12 words?
You're not. How are you even going to prove
that I have them in my brain? Elon's fucking brain reading
technology isn't good enough to read my 12 words yet.
Like, you don't. You can't even prove I have it.
So I think the path of least resistance being that we live in
a physical world where it's energy in, energy out, is not to
61 O2. However, once again, to be
clear, I am not a proponent of being lackadaisical.
Are you kidding me? I fucking grow cannabis, dude.
I'm a rebellious motherfucker dude by the way.
It's a licensed form. I have to play the game.
I don't want to live in a cage so I pay my taxes, I got a state
license, blah blah blah. I do it begrudgingly, but I am
just an advocate of thinking logically and not just slipping
into a fear based perspective based upon the fact that
everything in known history was corruptible and we were trusting
people to keep it from being incorrupted.
Now we have. Now all I got to trust for
Bitcoin to work is that people are selfish and they're going to
serve their self-interest in the beautiful thing with Bitcoin is,
is that it aligns the self-interest of the individual
with the self-interest of the collective.
And on a micro level, we have the same economic conundrum that
they do on a macro level. Banking bloodlines, nation
states too big to fail, corporations, small
corporations, mom and pops all the way down to the pupusa
seller who barely fucking has anything living on the streets
of El Salvador. We all have the same existential
crisis and that we want to be able to keep what we earn and we
don't want somebody to come in and kill us and take our shit.
And so well, because of all of that, I just, the more I think
about it, the more I realized, or at least I think once again,
this is just my opinion, man, that it's not probable that they
attempt to steal the Bitcoin, especially considering that we
have as much market to fight on a macro level as we do.
It's invisible. You can't prove you have it.
Yeah, I don't know. Anyway, that's that's what I
think. Also lastly, I'll say I'm an
advocate of take fucking self custody.
Go into the world and assume that you're vulnerable because
it's game theoretic. This is also why we're so broken
inside. We all know that if we're not
liars, cheaters, and willing to kill and steal and fucking rent
seek that we're out of disadvantage in the marketplace.
But humanity's default is to to do things consensually.
We default to being kind and good to each other.
And so to think too that the world that we live in today, our
civilization was built on a fucking technology of a yellow
shiny rock is quite inspiring. We have a protocol perfectly
engineered money. It's a living money.
It's a freedom virus. It's metaphysical property.
It's the hardest substance in the no motherfucking universe.
We can build a civilization that's unimaginably beautiful.
And I do think that the dumb, fucking sociopathic, evil doing
scumbag politicians, we're going to figure this stuff out.
And the path of least resistance to get the Bitcoin is to roll
out the motherfucking orange carpet.
I watched them do it to the cannabis community with brick,
with greenhouses. You could see from fucking
space. Instead of going around and
being like, hey, we're going to punish you.
We're going to find you. We're going to lock you guys up.
They're like, oh, you don't like our rules?
OK, cool. We'll just come back with more
favorable rules. And so, in the famous words of
Breedlove, Bitcoin makes government's beholden to the
preferences of its citizens. That's what I think.
All right, Adam, Adam, I'm venturing the guests that you.
Might have to pop off in 4 minutes right now.
Do you have time? All right, let's, let's, let's
give you last, last words and then we'll pop and do the meme
review because everyone's gonna kill me if I don't do the meme
reviews. So, Adam, you gotta get the
memes. All I'm gonna say is last words.
I do. Not believe that cannabis got
the orange. Carpet or.
Probably the green carpet at there.
You got more favorable rules, bro.
I don't want rules. I don't want rulers, right?
I don't want somebody else telling me what I can and cannot
do with my money that I what I can and cannot do.
If they come in and regulate Bitcoin, it's going to look just
like the dollar but on some blockchain.
And that's not what we want. We want a true free market.
Cannabis is not a free market. Cannabis costs way too much to
produce. It costs way too much for
consumers. It can be way, way.
Yo, Nico, it could be. By the way, bro, you're gone
now. Opti and I just crushed.
Yeah, we didn't. Haven't felt anymore.
And and and I think I would. Hazard a guess that if the same
happens to Bitcoin, it will be a net detriment rather than a net.
You can't corrupt Bitcoin, you can only corrupt a layer on top
of it, which. Is in turn corrupting yourself
anything other than self custody.
Yeah, yeah. So the main.
Chain won't be corrupted I I firm 100%.
Let's go hold on. So for this debate, Nico, we're.
Running long. We were debating and I got to
give him some. Get cold motherfucking pork.
All right, All right, Adam. Adam, pop off and I'll see you
in an hour. And then thanks for coming on
guys. Adam O'Brien, CEO, Bitcoinado.
Thanks for Co hosting. Thanks for dunking on me three
times. That's the new all time high, I
think for a new Co host. I'll see you in a little bit,
bro Appreciate it. We'll see you soon, Eric.
Let's keep chatting on this. Let's do this again.
Yeah, I look forward. To it, it was an honor, man,
these guys. Later, dude.
All right, boys. Well, Nico.
We got to do it. We're going long.
They're yelling at me, we're going to do meme review.
So let's get into the meme review guys.
I'm not going to call you this week.
I just crashed this for a second.
I just wanted to say happy having everyone streaming live
from the West hotel in Nashville and about to join the epic
having live stream. Really excited for it and happy,
happy having everyone. The 5th epoch is coming up.
I'm extremely excited for it. Buckle up.
You know, Bitcoin is deterministic optimism.
All you got to do is, you know, stack SAT stay humble, stay
solvent and over time your life gets progressively better if
you're on a Bitcoin standard. Anyways, love you all everyone
have an amazing weekend and I'll be back on Monday.
Peace out, everybody. Let's go.
All right guys. So in honor of the.
Having we're going to give you a meme review, all right, Opti's
Friday meme review. Actually, actually actually
before we do that, go to our website simplybitcoin.com wine
officially announced like an hour before the show.
We are going to give you guys 21% off in honor of the having
for 24 hours on the website. So if you've been thinking about
getting the merch, we're going to give you guys a having
discount. So get over there head over
there. I think the he's got some
special web link URL, but I think if you just put having all
lower case for the discount, you'll get 21% off.
We love you guys really appreciate it.
All right, on that note, it's the main review guys.
It's you already know the deal Tweets are the bullets meme
Julia Chiller. You guys are the front line
soldiers in this information war.
Continue to get the calls of action out there for your
friends and family. Continue to ridicule the
corporate press, continue to ridicule the lizards out there
and of course, make some funnies so your friends head stay in the
game. And on that note, just at the
Copernicus, he he was Mia last week.
We missed him for a little bit. He was in the doghouse and off
the gate he just comes up strong and starts trolling me.
So first and foremost, my boy Annie Rugg trolled me with a
picture from the having party and he put a little pacifier in
my mouth. This this guy just making me
look bad out here. But hey, it's all it's all part
of the game. It's all fun and games.
Anyways, Copernicus goes. When your girlfriend and you
have different interests, but you make it work anyway.
True love, heart emoji, happy Bitcoin, having Opti and even
Pat Christine Lagarde. Oh my God.
All right. Anyways, here's a picture of me.
This is when we were on stage in El Salvador.
Christine Lagarde sitting on my lap and he goes Chrissy Chrissy
says tell me more about this Bitcoin having my sweet
grandchild and Hopty go Google Gaga 3.125 sucks on pacifier
harder. Oh my God, you guys are crazy
out here. All right, next one is not that
Elon at eggplant under score Elon.
He goes good morning. So if you guys saw, if you guys
on the interwebs, there's a picture of Tiger Woods looking
seemingly shaking hands with a tree.
You know, Tiger shaking hands with wood and Tiger Woods.
It goes me and then the tree goes the person who just sold me
BTC at 61 K. What do you guys doing selling
your Bitcoin? Like you guys will never learn
until you put your hand on the stove.
And on that note, we got Huddle Cat 21 and he's just got the
eyes and we got a cat here, you know, sleeping soundly and, and
in bed and his bitcoins in cold storage and, you know, all the
crazy things going on in the world.
Like, imagine if we were a little more prehistoric here, if
we were a little more, you know, superstitious.
All the things happening in the world right now might be
seemingly calling for an apocalypse, but all those
Bitcoiners don't care. So we have a cat here sleeping
that goes, there's an earthquake, you know, World War
three's on the horizon and there's a tsunami.
And then then nothing even fazes us, but what faces us is the
Bitcoin dip. And the cat finally wakes up.
This is every single one of us Bitcoiners.
And then my boy rope, just with the Soon TM.
This is a classic meme. You know, the car swerving off
the off ramp onto a new road. And as we're going to see
tonight, no longer the block subsidy is going to be 6 point.
It's actually 6.25 rope, but you know, you're bad at memes, but
hey, we're not going to hold you to that.
So 6.25 Nope, we are cutting block subsidy in half to 3.125
This it's beautiful man. Bitcoin is working exactly as
design. And then it's next one.
I don't, I don't know if this guy's a shit corner, but I I
really like this meme. So this is doctor shit coin PhD
and he goes and in two days God will say let their behalf and it
will be so and the price of Bitcoin will go ape ship and ape
ship and many Pleds will become rich.
Amen. And we got, you know, the the
frog God with the Bitcoin logos in his hand.
Oh, man, just you just love Bitcoin.
It's absolutely incredible. All right, next one is Robin
Sayer and he goes, Bitcoin changes you classic meme here,
you know, got Brad Pitt looking all clean cut and he goes, babe,
we're going to be so wealthy. And this is Bitcoin day one.
And then Bitcoin day 1213. You are the beat up version of
Brad Pitt and Fight Club. And he goes, fuck Fiat, the Fed,
the banks and the government. I'm buying more.
I am buying more. I'm never leaving.
And then this last one, you know, we dunked on Peter Schiff
a couple times today or rather this week.
And sometimes memes are just screenshots.
Sometimes the memes just write themselves.
And you couldn't make this up like Peter Schiff, He's he's
such good K fob. He's literally he's literally
WWE out here. Anyways, Ben Kauffman goes,
Peter, if you buy Bitcoin, you're going to lose 100% of
your investment. And then also Peter, and we got
a screenshot here of Mcgoo and he goes, make sure to mention
100% of your bank clients lost 100% of their deposits.
And Peter Schiff goes, oh, for now, they just lost access to
100% of their money. But that's not my fault, bro.
You can blame the media and the government for that, bro.
That ain't my fault, bro. Oh my God.
This is why we Bitcoin. You cannot steal our Bitcoin.
You know morale will not improve until self custody improves.
All right, guys, drop your meme review score in the chat.
We will cover ours live. I'll go first.
Since I got mine, I'm going to do this Bitcoin well mug that I
stole from Bitlock Boom off the desk.
It's becoming my my daily coffee driver.
All right, Eric, what is your meme review score?
I give it a 10. Out of 10 today, I think.
I think our memes were really good.
I think ropes mean his math is wrong.
But here's the beauty of it. Bitcoins right doesn't matter
Bitcoin's right, so we could be wrong, you know let's go and and
you know in honor of. Adam and his.
Sincere skepticism. Which skepticism?
Yeah, Which I'm a. Major advocate.
Of you don't want to trust, you don't want to trust in anything,
but there's someone's ability to serve their self-interest,
including their ability to lie to you to do so, right.
So actually, I will say I think Peter Schiff is fucking lying.
I think he fully understands Bitcoin.
He's the biggest troll ever. Someone's paying him.
JP Morgan Chase is laundering some money into Peter Schiff's
bank account to get him to go out and say a bunch of dumb shit
about Bitcoin. This guy, he cannot understand
all of the things that he has been speaking to for the last
decade as his hard money theory, his his basis in the economic
school or Austrian economic school of thought.
All everything is in alignment with Bitcoin.
But he's saying in a bunch of dumb shit about Bitcoin.
It's the biggest fucking it's so much bullshit.
You. You know how?
Yeah. You know how I knew?
He was lying is when his son came out as a bitcoiner and they
were just like tag teaming on Twitter.
I'm like, oh, now, now the jig is up, but yet people still fall
for it. You could see the look on his
face. He knows it too.
He. Fucking knows he's being, it's
like he has that little shitty Ding grin, you know.
And once again, though, people serve their self-interest.
Most people are ethical and honest, right?
But we're, we have to contend in the marketplace or world or
reality or whatever you want to call it with people who aren't
ethical and honest. And that means, though, that
you're at a game theoretic disadvantage if you're not
willing to participate in that scumbaggery in the BB world, you
were out of at a disadvantage, but now you can protect yourself
in a way that has never been possible in all of human
history. So yeah, I think Peter Schiff is
lying. I say once again, I've expressed
some opinions that may be very controversial within the
hardcore Bitcoin maximalist space.
I am not an advocate of you leaving your Bitcoin on an
exchange. I'm not an advocate of you
giving up your Bitcoin to borrow some shitty Fiat.
I am not an advocate if you believe in JP Morgan Chase or or
JP or Jamie Dimon or Peter, any of that stuff.
I I suggest that you remain vigilant.
You protect yourself and insulate yourself from the
atrocities in the dishonored Esteed taking place in the
world. But once you've done everything
that you can do, and I don't know if there's anything more
powerful and revolutionary and so on that you could do than to
buy Bitcoin, sell all your shitty dude in the sell all your
shitty assets, buy Bitcoin, put it into self custody and then
sleep good at night, right? You know, when in cannabis, in
the honor of it's 4:20 tomorrow, it's going to be 420 in some
places on planet Earth where the halving takes place.
And in honor of 420 in cannabis, I'll say this.
High grade cannabis is referred to as a bunch of different
things. AAA, top shelf, chronic,
whatever, right? Gas, blah blah blah.
In. Mid grade cannabis, especially
amongst the producers, is referred to as boof.
It's fucking boofy ass mid right All assets that people are
saving. Are fucking boof your real
estate? Is mids as fuck?
Dude it's physical shitty physical stuff.
Look at a house that's 40. Why is it that a house that's 50
years old that's all shitty that has to be remodeled?
You got to put a new roof on it, you got to paint it.
It's entropy. The physical world is trying to
devour it. And pre pick one you could say
on a Fiat monetary standard real estate was a good strategy.
But a sailor is famously said all your models are destroyed,
why on earth would you sell the winner to buy the loser?
Blah blah blah etcetera etcetera.
So anything other than Bitcoin to save your monetary energy,
your life force, whatever you want to call it is fucking boof.
Mids as fuck dude. Everything but Bitcoin is mid
your gold. 'S mid.
Your real estate's mid. Your stocks is mid stack
Bitcoin. There is no second best, Yeah,
and maybe having mids is good for some people, you know what I
mean? But yeah, some people don't like
quality, apparently, right? It's a quality.
Larry Fink said it. It's a oh, love it, love it.
All right, guys, let's get to some of these scores.
You already know the deal, all right, boys and girls 1st.
One opti we're so. Backfield score when I tell my
wife she's not getting a single sat of our Bitcoin until I die
and she says no problem and then proceeds to refuse to cook until
I die of starvation. Learn to cook, be unstarvable.
Yes, highly recommend this. OK next one tore up hotto.
He goes meme score a Peony lane bottle of Satoshi reserve.
There you go Elaine Lowell Score Half is half, less is more.
Bitcoin is beauty Fiat is a whore.
OK senor gringo Poppy goes 12 out of 10 Let's go BTC believer
goes score three seed plates bought at half the price.
Love it love it. Let's see a couple more a couple
more sacks sat wise Jinx goes. I give these memes my third
Bitcoin having and facts on Peter Schiff being a troll.
Facts guys do not fall for the the trolliness of Peter Schiff.
Let's see, is there, I think all right, whatever, whatever we
didn't run. Out of scores, guys.
The buzzer tape, The buzzer tape.
All right, man. Oh, wait, we got one more.
We got one more Winekas score. Buying a bag of regs from Opti
for 4/20. 6 All right, all right, all right, Well, guys.
Thank you for watching. We appreciate you guys.
If you like the show, of course, like subscribe, share the
signal. We went a little long for the
halving today. We had a great debate on this.
But on that note, Eric, where can people find you?
What do you want to push people towards?
Yeah, I'm on. I'm on X Eric.
V Stacks I post videos talking about the long term
philosophical on societal implications of Bitcoin, some
bright orange future. You know, I, I, I say it all the
time. I'm super pumped, I'm super
grateful. And the reality is, is that, you
know, there are times where I get a little bit concerned, you
know, I, that I'm going to wake up into my old nightmare of a
life pre 2009, the BB world where everything that we had was
was corruptible, violable. And you know, we, we lived in a
fundamentally dishonest, corrupt system.
And as far as I can tell, the fabric of our reality has
changed. You know, sailor, Sailor, I love
so many other things Sailor has said.
Satoshi opened a portal and he brought life to a dead realm.
He merged the physical world in the metaphysical world, you
know, and, and information has been flowing through cyberspace
at hyper rate and now we have the ability to send value or
economic energy through cyberspace to somebody.
We've solved the double spend problem.
It's humanity's masterpiece. Satoshi took all of these these
independent things that had been created by other people or
whatever, and he merged them all together.
And, you know, it changes everything, as far as I can
tell. It makes it literally, it fixes
and all roads lead to Bitcoin. It fixes so much of our world.
Everything that that we could ever do strengthens Bitcoin.
If the government's try to attack it, it strengthens it.
You can't ban Bitcoin. You can only ban yourself from
it, you know. And so, yeah, I don't know.
I'm pumped, man. I'm pumped.
It's a it's a new, new era we got we get to watch now what is
it? It's the hardest asset in the
marketplace now because of the stock to flow because of this
happened undeniably special, special.
Thing and I will say lastly. I don't know if we could live in
a more beautiful time. We get the we get the privilege
of getting to see what the world was like before Bitcoin and now
after Bitcoin. And that's a special thing.
And so, yeah, pumped and grateful.
All right, Eric. Well, thank you for showing up
today. We'll have to.
Keep bringing you on. People seem to love the signal
you're spreading, so we'll keep bringing you on, bro.
We'll keep bringing you on. Thanks for having me anyways,
bro. Hang out behind the scenes.
For a moment while I'll wrap. This one up all right, boys and
girls. Mainly boys, but some girls.
Thanks for showing up today. Happy having.
I hope you guys have a good weekend again, like share,
subscribe, all that good stuff. Come back on Monday.
We will be back to our normally regular scheduled programming
with Nico and man celebrate. It's a celebration.
This is why we are bitcoiners. This is why we do what we do.
As Eric and Adam and I were saying on today's show, after
today, Bitcoin will be undeniably the hardest,
soundest, most secure money in the world.
You need to get off 0. If you just happen to fall into
this video by chance and you watch all the way through, you
need to be saving in Bitcoin. Everything else is mid.
Every other store of value is mad mid.
Guys, you want to get that top shelf Bitcoin?
This is the best asset, period. There is no second best.
We love you guys. We'll see you in the 5th epoch
on Monday. Peace out guys, it's been a fun
ride and it's only going to get better.
On that note, it's your boy Opti and I'll see you on Monday later
guys. This episode was brought.
To you by bitcoinwell.com on a mission to enable independence.