1
00:00:21,720 --> 00:00:27,000
Does the inability of Vice 
President Harris answer that? 

2
00:00:27,160 --> 00:00:31,800
Really important question at the
beginning, are Americans better 

3
00:00:31,800 --> 00:00:33,600
off than they were four years 
ago? 

4
00:00:34,840 --> 00:00:38,440
It was a very, very evasive, 
clearly scripted answer. 

5
00:00:39,200 --> 00:00:41,440
But the answer to that, I think 
if you polled the American 

6
00:00:41,440 --> 00:00:44,960
people is I, I would say 95% 
would say no. 

7
00:00:44,960 --> 00:00:47,480
They're much worse off than they
were four years ago. 

8
00:00:48,200 --> 00:00:52,440
President Trump had one of the 
lowest inflation rates in recent

9
00:00:52,440 --> 00:00:55,560
American history. 
Today, we're experiencing the 

10
00:00:55,560 --> 00:00:57,440
highest. 
We have a first generation of 

11
00:00:57,440 --> 00:00:59,640
American kids who can't get into
homes. 

12
00:01:00,320 --> 00:01:03,840
We have the unaffordability at 
the gas station, at the grocery 

13
00:01:03,840 --> 00:01:07,920
store, people who are down 
grading ingredients to make it 

14
00:01:07,920 --> 00:01:11,360
through the checkout counter, 
elderly people who are cutting 

15
00:01:11,360 --> 00:01:14,360
up their prescriptions to pay 
for food or fuel. 

16
00:01:15,040 --> 00:01:16,720
This is happening all over our 
country. 

17
00:01:16,720 --> 00:01:19,800
It's the first time in American 
history that you have a 

18
00:01:19,800 --> 00:01:23,160
generation of kids who's going 
to be worse off than their 

19
00:01:23,160 --> 00:01:26,600
parents. 
And president, Vice President 

20
00:01:26,600 --> 00:01:29,560
Harris has had four years to 
deal with these issues and 

21
00:01:29,560 --> 00:01:32,520
they've just gotten worse. 
And unfortunately, we had 

22
00:01:32,520 --> 00:01:37,840
moderators who were clearly 
biased, who were constantly fact

23
00:01:37,840 --> 00:01:42,200
checking Donald Trump. 
And none of these kind of 

24
00:01:42,200 --> 00:01:46,160
whoppers that the Vice president
was, was saying and none of her 

25
00:01:46,160 --> 00:01:49,520
failure to really explain that 
answer that first question, that

26
00:01:49,520 --> 00:01:53,600
very, very critical first 
question, they simply sat there 

27
00:01:53,600 --> 00:01:58,120
on the sidelines, right, 
allowed, allowed that to pass. 

28
00:01:59,600 --> 00:02:01,520
Yeah, we're going to simply 
Bitcoin Live, your number one 

29
00:02:01,520 --> 00:02:04,000
source for the peaceful Bitcoin 
revolution and cup breaking 

30
00:02:04,000 --> 00:02:06,480
news, culture, magic warfare. 
We will be your guide through 

31
00:02:06,480 --> 00:02:09,199
the separation of money and 
state. 

32
00:02:10,639 --> 00:02:13,880
The first presidential debate, I
mean technically is the second, 

33
00:02:13,880 --> 00:02:16,800
but the actual presidential 
debate between the candidates 

34
00:02:16,800 --> 00:02:19,160
that are actually running for 
president happened last night at

35
00:02:19,160 --> 00:02:24,360
9:00 PM on ABC. 
And I'll, I'll approach it from 

36
00:02:24,360 --> 00:02:29,160
this angle because we are a 
Bitcoin show and I don't want to

37
00:02:29,160 --> 00:02:32,480
get into all the other political
discussions because that's not 

38
00:02:32,480 --> 00:02:35,520
why you guys tune into us for 
and that's not what we're about.

39
00:02:36,880 --> 00:02:41,560
But what I will say is as a 
content creator, me and Opti 

40
00:02:41,640 --> 00:02:46,720
have been doing this for a 
couple years now and we don't 

41
00:02:46,720 --> 00:02:49,040
have any professional training 
whatsoever. 

42
00:02:49,200 --> 00:02:55,080
We are self-taught. 
And what I will say is the bias 

43
00:02:55,080 --> 00:03:01,280
that I saw from professional 
journalists yesterday was 

44
00:03:01,760 --> 00:03:05,440
insane. 
And I'm not coming at it from 

45
00:03:05,440 --> 00:03:08,800
the angle of like, you know, 
they treat they mistreated Trump

46
00:03:08,800 --> 00:03:11,440
or this and this and that. 
But I'm coming at it from the 

47
00:03:11,440 --> 00:03:17,800
angle of most people, what 
they're feeling right now is the

48
00:03:17,800 --> 00:03:22,840
devastating effects of 
inflation, of which both 

49
00:03:22,840 --> 00:03:28,760
political parties are 
responsible for, and the 

50
00:03:28,760 --> 00:03:35,080
continued, like, illusion of 
politicians going and promising 

51
00:03:35,560 --> 00:03:40,040
the American people that they're
going to solve their issues. 

52
00:03:41,800 --> 00:03:45,720
That is insane. 
We're going to talk about one of

53
00:03:45,720 --> 00:03:48,320
the bills that was passed I 
think a couple years ago is 

54
00:03:48,320 --> 00:03:50,080
called the Inflation Reduction 
Act. 

55
00:03:51,560 --> 00:03:54,720
That bill spent I think over 
$200 billion. 

56
00:03:54,720 --> 00:04:00,520
I have the exact number. 
You don't reduce inflation by 

57
00:04:00,520 --> 00:04:05,440
spending 200 billion. 
So we have a predicament and an 

58
00:04:05,440 --> 00:04:08,600
issue here where it's an 
educational problem. 

59
00:04:08,600 --> 00:04:15,080
It's an educational issue. 
We have to be able to educate 

60
00:04:15,080 --> 00:04:19,800
the masses on the fact that it's
not left verse right. 

61
00:04:20,240 --> 00:04:24,960
It's green versus orange. 
Are you for pro Fiat, pro 

62
00:04:24,960 --> 00:04:29,600
endless wars, pro reckless 
government spending, pro 

63
00:04:30,240 --> 00:04:33,440
censorship, pro nihilism, pro 
poverty? 

64
00:04:33,800 --> 00:04:37,880
Or are you pro Bitcoin, pro 
opportunity, pro hope, pro 

65
00:04:39,720 --> 00:04:44,600
prosperity, pro censorship 
resistant, pro freedom? 

66
00:04:44,760 --> 00:04:47,320
Like that's really what's 
happening here. 

67
00:04:47,400 --> 00:04:53,840
And what I saw yesterday was 
incredibly biased reporters and 

68
00:04:54,160 --> 00:04:58,320
Trump getting upset and then by 
and then Kamala, who's been in 

69
00:04:58,320 --> 00:05:02,880
power for the last 3 1/2 years, 
you know, tell this story of joy

70
00:05:02,880 --> 00:05:07,160
and happiness and all this. 
And those are the two choices we

71
00:05:07,160 --> 00:05:10,520
have in front of us. 
Like that would be very 

72
00:05:10,520 --> 00:05:13,480
depressing if I didn't have 
Bitcoin. 

73
00:05:14,120 --> 00:05:16,320
And that's really what the 
message I want to focus on 

74
00:05:16,320 --> 00:05:21,160
today, which is if what you saw 
last night, regardless of your 

75
00:05:21,160 --> 00:05:25,920
own personal political beliefs 
and stuff, depress you and you 

76
00:05:25,920 --> 00:05:29,200
are just like, holy cow, like 
these are the two choices in 

77
00:05:29,200 --> 00:05:32,840
front of us. 
There is a third choice and that

78
00:05:32,840 --> 00:05:36,560
choice is Bitcoin. 
You can opt out of that system 

79
00:05:36,560 --> 00:05:41,040
entirely, and you can start 
living the American dream today 

80
00:05:41,760 --> 00:05:44,640
because if you've been using 
Bitcoin as your unit of account 

81
00:05:45,280 --> 00:05:52,200
for the last, you know, five 
years, three years, even housing

82
00:05:52,200 --> 00:05:55,080
and groceries have gotten 
cheaper. 

83
00:05:55,080 --> 00:05:59,920
If you've been living on a sound
money standard and you just kept

84
00:05:59,920 --> 00:06:03,440
hearing in the debate yesterday 
like, the price of housing is 

85
00:06:03,440 --> 00:06:06,040
too high, Kamala was like, yeah,
we're going to give a tax 

86
00:06:06,040 --> 00:06:09,600
credit. 
You know, Trump had his own way 

87
00:06:09,680 --> 00:06:13,360
of, you know, approaching things
and the entire time I'm thinking

88
00:06:13,360 --> 00:06:16,240
I'm like, you know, the solution
is just Bitcoin. 

89
00:06:16,640 --> 00:06:20,200
But for politicians, like if 
they're not the solution, that's

90
00:06:20,200 --> 00:06:22,040
a problem, that's an issue, 
right? 

91
00:06:22,200 --> 00:06:23,640
So of course I'm not going to 
mention that. 

92
00:06:24,440 --> 00:06:28,040
And then one last thing I'll say
before I bring up our the 

93
00:06:28,040 --> 00:06:33,680
panelists for today Opti and our
guest is we have this election 

94
00:06:33,680 --> 00:06:37,200
even though Bitcoin doesn't need
a politician to succeed. 

95
00:06:37,480 --> 00:06:43,960
I will say is that we have a pro
Bitcoin, anti CBDC candidate 

96
00:06:44,480 --> 00:06:47,440
which has been endorsed by RFK, 
which is Trump. 

97
00:06:48,000 --> 00:06:52,360
And on the other side you have 
an anti Bitcoin and pro CBDC 

98
00:06:52,360 --> 00:06:58,640
candidate, which is Kamala. 
So the two things are separate. 

99
00:06:58,840 --> 00:07:01,680
You could start living the 
American dream today. 

100
00:07:01,760 --> 00:07:03,440
Yeah, someone brought it up in 
the comment. 

101
00:07:03,440 --> 00:07:07,040
No mention of $36 trillion 
government debt adding one 

102
00:07:07,040 --> 00:07:08,960
trillion every month for every 
few months. 

103
00:07:09,160 --> 00:07:12,200
Just to give you guys 
perspective, most countries 

104
00:07:12,200 --> 00:07:14,120
don't even have AGDP of a 
trillion. 

105
00:07:14,280 --> 00:07:17,840
El Salvador's GDP is 32 billion.
Just to kind of give you give 

106
00:07:17,840 --> 00:07:21,400
you guys an idea of the deficit 
and how are they able to afford 

107
00:07:21,400 --> 00:07:24,120
the deficit. 
They print the difference and 

108
00:07:24,120 --> 00:07:27,560
that causes inflation, and that 
is literally theft from anyone 

109
00:07:27,560 --> 00:07:29,640
who is holding and earning in 
dollars. 

110
00:07:30,160 --> 00:07:33,440
And that wasn't addressed. 
But there's two separate issues 

111
00:07:33,440 --> 00:07:37,400
here. 
Issue #1 is both candidates 

112
00:07:37,400 --> 00:07:39,760
didn't provide a solution. 
The solution is Bitcoin. 

113
00:07:40,440 --> 00:07:45,160
Issue #2 if you're a Bitcoin 
entrepreneur and if you want the

114
00:07:45,160 --> 00:07:48,920
Bitcoin industry to thrive in 
the United States for the next 

115
00:07:48,920 --> 00:07:54,080
four years or so, this year is a
Bitcoin election. 

116
00:07:54,280 --> 00:07:59,000
You have two separate candidates
that have two different policies

117
00:07:59,000 --> 00:08:02,800
towards the industry. 
Even though one candidate is 

118
00:08:02,800 --> 00:08:05,920
obfuscating that a little bit by
using the media. 

119
00:08:06,360 --> 00:08:09,080
If you take a look at the data, 
it's very, very clear. 

120
00:08:09,080 --> 00:08:13,160
Operation Choke .2 point O the 
proposed 30% Bitcoin mining tax.

121
00:08:13,160 --> 00:08:19,440
The fact that nowhere in the the
Democrats presidential of the 

122
00:08:19,640 --> 00:08:23,960
the Democrats policy for 2024 is
cryptocurrency, digital assets 

123
00:08:23,960 --> 00:08:28,200
or Bitcoin included versus the 
Republican policy, which 

124
00:08:28,200 --> 00:08:33,320
includes the protection of self 
custody, the right to mine and 

125
00:08:33,320 --> 00:08:35,360
just allowing the the industry 
to thrive. 

126
00:08:35,360 --> 00:08:38,480
SO2 separate things could be 
true at the same time. 

127
00:08:38,720 --> 00:08:43,440
And I'm just seeing this and 
it's like the a metaphoric 

128
00:08:43,720 --> 00:08:48,760
Titanic sinking into the ocean. 
And I'm watching this from the 

129
00:08:48,760 --> 00:08:54,040
safety of my Bitcoin life raft 
by having my wealth in self 

130
00:08:54,040 --> 00:08:56,200
custody. 
And I'm just watching this and 

131
00:08:56,200 --> 00:09:00,040
I'm like, this is a disaster. 
This is a this is a disaster 

132
00:09:00,040 --> 00:09:04,520
happening in slow motion and if 
you don't have your money in 

133
00:09:04,520 --> 00:09:08,000
Bitcoin, you're going, if you 
don't have your money in Bitcoin

134
00:09:08,040 --> 00:09:11,840
in self custody, you are 
literally going along for the 

135
00:09:11,840 --> 00:09:13,840
ride. 
Whatever you thought of the 

136
00:09:13,840 --> 00:09:16,600
debate yesterday, you are going 
along for that ride. 

137
00:09:16,600 --> 00:09:20,800
That is, that is what you're 
opting into by staying in Fiat 

138
00:09:20,800 --> 00:09:25,000
money, but you have a choice as 
an individual that is completely

139
00:09:25,000 --> 00:09:30,400
independent of election to opt 
out into a non political money 

140
00:09:30,560 --> 00:09:33,880
that can't be debased, that is 
censorship resistant, that is 

141
00:09:33,880 --> 00:09:36,520
very difficult to confiscate and
that is Bitcoin. 

142
00:09:36,840 --> 00:09:40,880
So yes, it's an election year 
without a shadow of a doubt, but

143
00:09:40,880 --> 00:09:45,760
the most important vote that you
can make this election season 

144
00:09:47,400 --> 00:09:50,920
voting with your wallet and 
taking Bitcoin into self 

145
00:09:50,920 --> 00:09:54,760
custody. 
That being said, also from a 

146
00:09:54,760 --> 00:09:57,680
regulatory environment, we've 
made the case for you guys in 

147
00:09:57,680 --> 00:10:00,200
terms of what is the better 
political candidate. 

148
00:10:00,480 --> 00:10:05,720
But holy cow, I saw that 
yesterday and I said, man, thank

149
00:10:05,720 --> 00:10:10,600
God for Bitcoin. 
If Bitcoin did not exist, like 

150
00:10:10,800 --> 00:10:15,200
it would be a very dark time for
my perspective, like I think I 

151
00:10:15,200 --> 00:10:17,800
would. 
I would be a gold bug maxi in my

152
00:10:17,800 --> 00:10:19,200
opinion, because I'm looking at 
that. 

153
00:10:19,200 --> 00:10:21,360
I'm like, holy cow, this is 
insanity. 

154
00:10:21,520 --> 00:10:23,960
This is late stage Fiat like 
that. 

155
00:10:24,080 --> 00:10:25,720
I think this is what we're 
getting right now. 

156
00:10:26,480 --> 00:10:29,120
I think the politicians 
themselves are suffering from 

157
00:10:29,120 --> 00:10:32,000
inflation. 
Anyways, I do want to welcome 

158
00:10:32,000 --> 00:10:34,160
our guests for today. 
We have Cena. 

159
00:10:34,280 --> 00:10:37,800
He's the Co founder and COO of 
21st Capital. 

160
00:10:37,920 --> 00:10:41,160
And of course my legendary Co 
host who I don't know. 

161
00:10:41,320 --> 00:10:44,040
I don't know how you could be 
optimistic after last night Opti

162
00:10:44,040 --> 00:10:50,400
but like holy like cow honey 
badger dude what the F was that?

163
00:10:50,400 --> 00:10:54,240
What's your take? 
Well, well, hold on your mic. 

164
00:10:54,480 --> 00:10:56,360
Hold on, hold on. 
Well, Nico. 

165
00:10:57,280 --> 00:10:59,680
Your microphone. 
Is it, is it not on? 

166
00:11:02,040 --> 00:11:03,280
Oh, yeah, you're right. 
Am I bad? 

167
00:11:03,320 --> 00:11:04,560
My bad. 
Guys, we're fixed. 

168
00:11:04,560 --> 00:11:08,200
We're fixed, Nico. 
First and foremost, optimism is 

169
00:11:08,200 --> 00:11:12,200
a way of life. 
You do not search for external 

170
00:11:12,560 --> 00:11:15,520
input, external stimuli to be 
optimistic. 

171
00:11:15,520 --> 00:11:17,800
This is how this is my operating
system. 

172
00:11:17,800 --> 00:11:21,240
This is what I suggest everyone 
else's operating system should 

173
00:11:21,240 --> 00:11:25,520
be, is just pure optimism 
throughout anything going on. 

174
00:11:26,000 --> 00:11:31,760
But overall, yeah, it was 
pretty, it was a pretty 

175
00:11:31,760 --> 00:11:35,120
horrible, horrible debate first 
and foremost. 

176
00:11:35,880 --> 00:11:39,160
A couple, a couple of drop balls
in my opinion. 

177
00:11:39,400 --> 00:11:42,520
No mention of Bitcoin, Not 
surprised at all. 

178
00:11:42,520 --> 00:11:45,880
But of course, you know, Bitcoin
completely absent in the debate,

179
00:11:45,880 --> 00:11:50,400
which you can argue is obviously
outside of the Overton window as

180
00:11:50,400 --> 00:11:52,920
far as the mass population is 
concerned. 

181
00:11:52,920 --> 00:11:56,720
So I totally see that. 
But they literally started the 

182
00:11:56,720 --> 00:12:02,840
debate on the economy and again,
a more inside the Overton window

183
00:12:02,840 --> 00:12:07,200
issue as far as I'm concerned, 
no touching on the idea of 

184
00:12:07,200 --> 00:12:10,600
printing money. 
They had all of these obscure 

185
00:12:10,760 --> 00:12:15,200
reasons for inflation and it's 
all about printing money. 

186
00:12:15,200 --> 00:12:19,000
They're they're. 
Literally bro, it's literally 

187
00:12:19,000 --> 00:12:20,960
all about printing money. 
It's so crazy. 

188
00:12:20,960 --> 00:12:24,080
And then they they started 
talking about like other look 

189
00:12:24,360 --> 00:12:28,560
most people like 99% of people. 
You know what they care about? 

190
00:12:29,000 --> 00:12:32,520
They care about being able to 
provide for their family and 

191
00:12:32,520 --> 00:12:35,560
being able to put food on the 
table and being able to make a 

192
00:12:35,560 --> 00:12:39,160
good living. 
That is like 99% of people's 

193
00:12:39,160 --> 00:12:42,320
problems. 
All these other issues, I'm not 

194
00:12:42,320 --> 00:12:45,400
saying that they're not 
important, but it's like the 

195
00:12:45,400 --> 00:12:49,320
emphasis on them is create and 
then like not going to World War

196
00:12:49,320 --> 00:12:53,200
three would be great also. 
And like the emphasis on like 

197
00:12:53,320 --> 00:12:56,240
those, it's like, it's like, 
holy cow, it's like that. 

198
00:12:56,240 --> 00:12:59,880
That's like, and then this leads
me to something that we've been 

199
00:12:59,880 --> 00:13:03,720
talking about for a long time 
for like this last week or so on

200
00:13:03,720 --> 00:13:06,760
the show. 
The general theme is it's not 

201
00:13:06,760 --> 00:13:10,840
only what is money? 
The question is like, I'm down 

202
00:13:10,840 --> 00:13:13,640
the rabbit hole enough where I'm
asking like, what is government?

203
00:13:13,640 --> 00:13:15,120
Like what is the role of 
government? 

204
00:13:15,120 --> 00:13:19,040
What I saw last night was like, 
not what I'm envisioning. 

205
00:13:19,120 --> 00:13:22,120
Like, what is government? 
Government supposed to like, you

206
00:13:22,120 --> 00:13:25,200
know, keep society, order 
orderly, protect private 

207
00:13:25,200 --> 00:13:29,640
property and, you know, set a 
set of rules so make sure that 

208
00:13:29,640 --> 00:13:32,160
people don't cheat each other. 
Like that's supposed to be the 

209
00:13:32,160 --> 00:13:35,280
total like what government is 
all about. 

210
00:13:35,600 --> 00:13:38,040
And it's been Frankensteined 
into this. 

211
00:13:38,280 --> 00:13:41,200
Like government is the all end 
all be all. 

212
00:13:41,200 --> 00:13:44,480
It's supposed to do everything. 
Don't worry about it. 

213
00:13:44,640 --> 00:13:47,120
Now we're going to get start 
giving you tax credits for 

214
00:13:47,120 --> 00:13:50,200
housing and stuff like that. 
And we're going to be paying 

215
00:13:50,200 --> 00:13:53,440
for, you know, like treatment 
and like this and that. 

216
00:13:53,440 --> 00:13:56,040
And it's like, wait a second, 
like, I didn't agree to any of 

217
00:13:56,040 --> 00:13:58,040
this. 
This is insanity, right? 

218
00:13:58,440 --> 00:14:02,000
Anyways, I also want to touch on
a few things. 

219
00:14:02,320 --> 00:14:05,240
First off, there was a few funny
moments to it though that I 

220
00:14:05,240 --> 00:14:07,800
found myself cracking up. 
Especially the like Trump, like 

221
00:14:08,400 --> 00:14:10,880
like, excuse me, I'm speaking 
like, does this sound familiar 

222
00:14:10,880 --> 00:14:14,120
that that was that was some good
viral moments there. 

223
00:14:14,120 --> 00:14:16,680
First and foremost, as far as 
I'm concerned as someone that 

224
00:14:16,680 --> 00:14:19,800
makes content. 
The second part that I think you

225
00:14:19,800 --> 00:14:24,800
already touched on is that there
was seemingly like a fix that 

226
00:14:24,800 --> 00:14:26,600
was in on that the the 
moderators. 

227
00:14:26,600 --> 00:14:29,440
It seemed to be 3 on one. 
And then I think one of the most

228
00:14:29,440 --> 00:14:34,240
interesting aspects about this, 
whether Kamala won or lost is 

229
00:14:34,240 --> 00:14:36,960
Taylor Swift endorsing Kamala 
right when it ended. 

230
00:14:36,960 --> 00:14:41,000
So it did seem like there was a 
fix going in in favor of Kamala,

231
00:14:41,280 --> 00:14:44,760
but overall it was. 
It's politics. 

232
00:14:45,040 --> 00:14:47,480
Am I surprised that they're not 
really hitting on the issues? 

233
00:14:47,480 --> 00:14:50,280
No, it's just about sound bites 
and all that stuff. 

234
00:14:50,280 --> 00:14:53,880
But man, what a crazy world we 
live in. 

235
00:14:53,880 --> 00:14:56,600
It really goes to show that 
maybe we don't need a president 

236
00:14:56,600 --> 00:14:58,960
to control the economy. 
Maybe we I need a president to 

237
00:14:58,960 --> 00:15:00,720
control the world. 
I don't know, I'm just 

238
00:15:00,720 --> 00:15:03,160
spitballing here. 
That, I mean, that's what I'm 

239
00:15:03,160 --> 00:15:05,320
trying to tell you is like, what
is the role of government 

240
00:15:05,320 --> 00:15:07,800
anyways? 
We haven't let our guests say 

241
00:15:07,800 --> 00:15:10,560
anything yet. 
So Cena, how you doing, man? 

242
00:15:10,560 --> 00:15:13,440
You've been listening to me and 
Opti just react to the 

243
00:15:13,440 --> 00:15:16,640
catastrophe of the first 
presidential debate. 

244
00:15:16,800 --> 00:15:21,080
Like if you watch debates from 
like 20 years ago and you watch 

245
00:15:21,080 --> 00:15:25,040
them now, it's it's insane. 
It's it's just like night and 

246
00:15:25,040 --> 00:15:26,560
day. 
And I, and I really believe that

247
00:15:26,560 --> 00:15:32,160
it's like like, you know, it's 
it, I think it has to do with it

248
00:15:32,160 --> 00:15:35,360
has to do with with broken 
money. 

249
00:15:35,400 --> 00:15:38,040
Anyways, Cena what? 
What's your take on all this 

250
00:15:38,040 --> 00:15:41,480
bro? 
Hey guys, I love to be with you 

251
00:15:41,480 --> 00:15:44,080
guys. 
I was just listening and I 

252
00:15:44,080 --> 00:15:46,200
couldn't agree more with 
everything you guys said. 

253
00:15:46,200 --> 00:15:49,960
I mean very well said, very well
put, balanced take. 

254
00:15:52,600 --> 00:15:54,760
I'm just following what you just
said. 

255
00:15:55,640 --> 00:15:59,520
I used to listen super, super 
carefully to political speeches,

256
00:15:59,520 --> 00:16:02,440
not because I cared much about 
the content, but just because 

257
00:16:02,440 --> 00:16:08,680
how the quality of the speech 
it, you know, gave me ideas in 

258
00:16:08,680 --> 00:16:13,080
how to form my sentences. 
I used to like even listen to 

259
00:16:13,080 --> 00:16:17,320
Obama's speeches in terms of to 
learn better English. 

260
00:16:17,320 --> 00:16:21,160
Like, not that, not that I 
agreed with the content one way 

261
00:16:21,160 --> 00:16:27,360
or another, but now it's. 
It's probably a harsh work to 

262
00:16:27,360 --> 00:16:29,520
say, but it's all a clown show 
for me. 

263
00:16:29,520 --> 00:16:31,880
It's all theatrical. 
Totally, that's what I'm saying.

264
00:16:31,880 --> 00:16:34,120
It's nuts. 
They're they're talking about 

265
00:16:34,120 --> 00:16:36,960
eating the cats and the like 
bro, like I was like holy like 

266
00:16:36,960 --> 00:16:39,280
what is this? 
Like these are the people 

267
00:16:39,280 --> 00:16:42,880
controlling the nuclear code. 
Like it was like it was mind 

268
00:16:42,880 --> 00:16:47,200
blowing 100% like it it used to 
have a lot more prestige. 

269
00:16:47,200 --> 00:16:50,040
They used to speak better. 
I completely agree. 

270
00:16:50,920 --> 00:16:52,520
But yeah, it, it, it's just 
crazy. 

271
00:16:52,520 --> 00:16:55,240
And also in other news, guys, 
we're going to talk about Max 

272
00:16:55,240 --> 00:16:57,480
Kaiser's global hash war as 
well. 

273
00:16:57,640 --> 00:17:01,360
Really looking forward to that. 
It looks like every like it 

274
00:17:01,360 --> 00:17:07,240
looks like countries, public 
companies, energy companies, 

275
00:17:07,400 --> 00:17:10,680
they're all mining Bitcoin. 
Max Kaiser's making the case 

276
00:17:10,839 --> 00:17:12,920
that there's going to be a 
global hash war. 

277
00:17:12,960 --> 00:17:16,520
Not war in the traditional 
sense, but essentially a, a 

278
00:17:16,520 --> 00:17:21,520
battle for which country could 
accumulate as much Bitcoin as 

279
00:17:21,680 --> 00:17:25,400
humanly possible. 
And I think it's, it's obvious 

280
00:17:25,400 --> 00:17:30,280
in hindsight, but you know, it, 
it's, I mean, it's, it's, it's, 

281
00:17:30,720 --> 00:17:32,640
we always knew that this was 
going to happen. 

282
00:17:33,520 --> 00:17:36,920
But you know, it's, it's just 
crazy watching it play out, in 

283
00:17:36,920 --> 00:17:43,080
my opinion, to the point where 
the Marathon CEO is literally 

284
00:17:43,080 --> 00:17:47,000
saying that Bitcoin is a, is a, 
is a matter of national 

285
00:17:47,000 --> 00:17:50,120
security. 
And this comes on the heels of 

286
00:17:50,120 --> 00:17:55,280
the news coming out of Russia 
where Putin made a literally a 

287
00:17:55,280 --> 00:18:01,440
180 and essentially made Bitcoin
mining legal and Bitcoin for 

288
00:18:01,440 --> 00:18:04,360
facilitating international 
transactions legal as well. 

289
00:18:04,600 --> 00:18:07,280
So I think this is Bitcoins 
incentives playing out in real 

290
00:18:07,280 --> 00:18:09,200
time. 
It's glorious to see. 

291
00:18:09,200 --> 00:18:14,680
It's awesome, but I can't say 
I'm not surprised either. 

292
00:18:14,680 --> 00:18:16,320
Like this is bitcoins incentives
for you. 

293
00:18:16,560 --> 00:18:19,560
Anyways, guys, before we jump 
into the show, we're also going 

294
00:18:19,560 --> 00:18:23,800
to talk to Cena about 20 First 
Capital during the culture 

295
00:18:23,800 --> 00:18:25,600
segment. 
So really excited about that as 

296
00:18:25,600 --> 00:18:27,680
well. 
But before we jump into the 

297
00:18:27,680 --> 00:18:31,640
show, I do want to give a very 
special shout out to simply 

298
00:18:31,640 --> 00:18:35,160
bitcoins lead sponsor. 
When simply Bitcoin got the 

299
00:18:35,160 --> 00:18:37,840
platforms, one of the things 
that I, I one of the messages 

300
00:18:37,840 --> 00:18:40,800
that I I I kept getting from 
people is like, hey, how can I, 

301
00:18:40,920 --> 00:18:42,960
you know, donate? 
How can I help you guys? 

302
00:18:42,960 --> 00:18:47,760
Like the the best way to help us
guys is support our partners and

303
00:18:47,760 --> 00:18:50,320
our sponsors. 
And we're very, very picky on 

304
00:18:50,320 --> 00:18:54,080
who we choose to partner with. 
For example, our lead sponsor 

305
00:18:54,080 --> 00:18:57,840
Bitcoin Well, is the best place 
to build your automatic self 

306
00:18:57,840 --> 00:19:01,240
custody Bitcoin stack. 
It's automatic self custody, 

307
00:19:01,240 --> 00:19:05,080
meaning you can't even leave 
Bitcoin on the platform. 

308
00:19:05,640 --> 00:19:08,880
As soon as the funds clear, it 
goes straight to yourself 

309
00:19:08,880 --> 00:19:12,360
Custody Bitcoin wallet address, 
which perfectly aligns with the 

310
00:19:12,360 --> 00:19:15,800
simply Bitcoin ethos of the 
separation of money and state. 

311
00:19:15,960 --> 00:19:19,800
Because after all, self custody 
is the revolution. 

312
00:19:19,960 --> 00:19:24,000
To get started, go to 
bitcoinwell.com today, buy real 

313
00:19:24,000 --> 00:19:26,760
Bitcoin and enable your 
independence with the fastest 

314
00:19:26,760 --> 00:19:29,720
and safest way to buy Bitcoin in
Canada and the USA. 

315
00:19:29,920 --> 00:19:32,960
By the way, every time you buy 
Bitcoin on Bitcoin Well, you 

316
00:19:32,960 --> 00:19:36,280
earn Bitcoin well points and you
could use those points towards 

317
00:19:36,280 --> 00:19:38,240
the Bitcoin wishing well 
contest. 

318
00:19:38,400 --> 00:19:40,920
We'll do one for you guys right 
quick. 

319
00:19:40,920 --> 00:19:44,040
Right now we're going to toss a 
coin into the wishing well and 

320
00:19:44,040 --> 00:19:48,360
1st person to scan the QR code 
has won 500 SAT's. 

321
00:19:48,360 --> 00:19:51,480
By the way, every time you toss 
a coin into the wishing well, 

322
00:19:51,760 --> 00:19:54,840
there's an opportunity to win up
to 1,000,000 Satoshi's. 

323
00:19:54,840 --> 00:20:00,160
We had two winners last week for
21 K Satoshi's each. 

324
00:20:00,360 --> 00:20:04,280
By the way, if you use promo 
code Simply BTC to sign up to 

325
00:20:04,280 --> 00:20:08,360
bitcoinwell.com today. 
Hey, you got 3 tosses into the 

326
00:20:08,360 --> 00:20:11,240
Bitcoin wishing well. 
All right everybody, let's hit 

327
00:20:11,240 --> 00:20:12,800
the numbers. 
Lots to talk about. 

328
00:20:20,110 --> 00:20:22,630
All right guys, I want to tell 
you guys about our sponsor stamp

329
00:20:22,630 --> 00:20:25,590
seed. 
Usually when you buy a hardware 

330
00:20:25,590 --> 00:20:28,510
wallet, it comes with a piece of
paper and you're meant down to 

331
00:20:28,510 --> 00:20:31,230
write your seed words on that 
piece of paper. 

332
00:20:31,550 --> 00:20:35,030
Problem is that that paper is 
prone to water damage, can be 

333
00:20:35,030 --> 00:20:37,110
burned in a fire, your dog could
eat it. 

334
00:20:37,270 --> 00:20:40,470
That's not the proper way to 
store your generational well, 

335
00:20:40,880 --> 00:20:45,200
which is why we recommend our 
sponsor Stamp seed literally 

336
00:20:45,200 --> 00:20:49,400
proof of work. 
Stamp your seed into a plate of 

337
00:20:49,400 --> 00:20:53,360
titanium and the stamp seed kit.
A titanium seed phrase storage 

338
00:20:53,360 --> 00:20:54,960
kit comes with everything you 
need. 

339
00:20:55,280 --> 00:21:00,040
The metal stamping tools like 
the the letter punch tools, the 

340
00:21:00,040 --> 00:21:03,640
plate, the hammer, the anvil, it
comes with everything. 

341
00:21:03,640 --> 00:21:08,680
So you could literally stamp 
your seed, your seed words into 

342
00:21:08,680 --> 00:21:11,680
a plate of titanium, which is 
it's going to stand the test of 

343
00:21:11,680 --> 00:21:14,760
time, it's fireproof, it's 
waterproof. 

344
00:21:15,040 --> 00:21:17,960
Your dog's probably not going to
want to eat a piece of titanium.

345
00:21:18,120 --> 00:21:21,400
So this is the right way to 
store your seed words. 

346
00:21:21,600 --> 00:21:23,760
Head over to stampse-ed.com 
today. 

347
00:21:23,880 --> 00:21:28,160
Use promo code simply to get 15%
off anything on their website. 

348
00:21:28,400 --> 00:21:33,840
At the time of recording, the 
Bitcoin price is at $57,040. 

349
00:21:34,080 --> 00:21:41,840
Sats per dollar 1753 block 
height 860,800 99 blocks to 

350
00:21:41,840 --> 00:21:49,080
having 189,101 having estimate 
March 23rd, 2028 Total lightning

351
00:21:49,080 --> 00:21:55,920
network capacity 4962 BTC 
capacity value 283,000,000 

352
00:21:56,160 --> 00:22:01,880
Realized monetary inflation 
1.38% market capitalization 1.13

353
00:22:01,880 --> 00:22:06,280
trillion Bitcoin versus gold 
market cap 6.47%. 

354
00:22:06,480 --> 00:22:09,600
In the grand scheme of things, 
we are just getting started 

355
00:22:09,760 --> 00:22:11,360
anyways. 
Another another example of what 

356
00:22:11,360 --> 00:22:15,360
I was talking about yet the 
earlier on the show is again 

357
00:22:15,360 --> 00:22:19,480
like this is this is gnarly. 
Here's Elizabeth Warren, and 

358
00:22:19,480 --> 00:22:24,600
here's her solution for lowering
the the cost of housing. 

359
00:22:24,840 --> 00:22:27,160
You might think you're never 
going to be able to afford 

360
00:22:27,160 --> 00:22:29,400
buying a home, and you're not 
alone in that. 

361
00:22:29,720 --> 00:22:33,400
A new poll shows that 86% of 
renters in the United States 

362
00:22:33,680 --> 00:22:36,400
want to buy a home but can't 
afford one. 

363
00:22:36,680 --> 00:22:41,360
It doesn't have to be this way. 
I have a bill that would build 3

364
00:22:41,360 --> 00:22:45,320
million new housing units and 
lower the cost of housing, all 

365
00:22:45,320 --> 00:22:48,440
paid for by taxing the ultra 
wealthy. 

366
00:22:49,000 --> 00:22:53,320
I'm fighting to get this done. 
Like, like, it's, it's, it's 

367
00:22:53,320 --> 00:22:55,720
just like, it's like we're going
to tax more. 

368
00:22:55,720 --> 00:22:58,080
I have a bill. 
This is the solution. 

369
00:22:58,200 --> 00:23:01,120
Like it's, it's, it's, it's 
total clown world. 

370
00:23:01,120 --> 00:23:05,080
Now let's take a let's take a 
look at like what is the actual 

371
00:23:05,080 --> 00:23:09,480
cause of housing going through 
the roof? 

372
00:23:09,680 --> 00:23:14,600
Well, first, I want to present 
you with a clip from Joe Biden 

373
00:23:14,640 --> 00:23:17,560
referencing the Inflation 
Reduction Act. 

374
00:23:17,920 --> 00:23:19,960
It's interesting. 
Take a look at what he has to 

375
00:23:19,960 --> 00:23:22,320
say at the end regarding the 
bill. 

376
00:23:22,800 --> 00:23:27,080
My my investments that through 
my investments, the most 

377
00:23:27,080 --> 00:23:29,360
significant climate change law 
ever. 

378
00:23:29,960 --> 00:23:33,920
And by the way, it is a $369 
billion bill. 

379
00:23:33,920 --> 00:23:38,000
It's called the we we we should 
have named it what it was, but 

380
00:23:38,000 --> 00:23:40,280
it. 
They should have named it what 

381
00:23:40,280 --> 00:23:48,560
it so like spending $369 billion
and then obfuscating that behind

382
00:23:49,480 --> 00:23:52,360
the so-called Inflation 
Reduction Act because they know 

383
00:23:52,840 --> 00:23:54,840
that people are hurting from 
inflation. 

384
00:23:55,320 --> 00:23:58,440
Like that is evil, man. 
That is evil. 

385
00:23:58,440 --> 00:24:02,160
And by the way, both political 
parties, they print money. 

386
00:24:02,160 --> 00:24:05,600
So this isn't just focusing on 
the Democrats specifically, but 

387
00:24:05,640 --> 00:24:07,040
they're the ones that are in 
power right now. 

388
00:24:07,640 --> 00:24:10,040
But both political parties, they
just print money. 

389
00:24:10,080 --> 00:24:13,760
And who pays for that? 
Well, anyone who's earning and 

390
00:24:13,760 --> 00:24:16,400
saving in Fiat is the ones 
footing the bill. 

391
00:24:16,560 --> 00:24:21,080
So like, this is nuts. 
This is gnarly, and this is the 

392
00:24:21,080 --> 00:24:23,680
psyop. 
Like this is the thing that we 

393
00:24:23,680 --> 00:24:28,360
have to do as Bitcoiners. 
Our mission is to wake people up

394
00:24:28,560 --> 00:24:33,720
to the scam that is Fiat money. 
Our mission is to wake up, to 

395
00:24:33,720 --> 00:24:40,080
wake people up to the fact that 
if you start living your life on

396
00:24:40,080 --> 00:24:44,200
a Bitcoin standard, you don't 
have to wait for Elizabeth 

397
00:24:44,200 --> 00:24:49,040
Warren to tax the ultra wealthy.
You don't have to, you know, 

398
00:24:49,160 --> 00:24:53,920
wait for the Inflation Reduction
Act, which isn't even focused on

399
00:24:53,920 --> 00:24:56,320
inflation. 
It's focused on climate stuff. 

400
00:24:56,840 --> 00:24:59,800
You don't have to focus on any 
of these things, and I'm going 

401
00:24:59,800 --> 00:25:01,440
to read you a quote from Milton 
Friedman. 

402
00:25:01,440 --> 00:25:05,240
He says inflation is always and 
everywhere a monetary phenomenon

403
00:25:05,360 --> 00:25:09,600
in the sense that it is, and 
keep can be produced only by a 

404
00:25:09,680 --> 00:25:13,480
more rapid increase in the 
quantity of money than an 

405
00:25:13,480 --> 00:25:15,560
output. 
Very simple. 

406
00:25:15,760 --> 00:25:21,400
So, and now let's get to the the
Inflation Reduction Act, right 

407
00:25:21,720 --> 00:25:23,960
now that you know that, right? 
How do you reduce inflation? 

408
00:25:23,960 --> 00:25:26,640
You stop printing money. 
And then I'll show you guys the,

409
00:25:26,640 --> 00:25:29,800
the housing data as well. 
So the Inflation Reduction Act, 

410
00:25:29,840 --> 00:25:33,120
which was signed into law by 
President Joe Biden August 2022,

411
00:25:33,280 --> 00:25:37,920
is projected to cost 
approximately 437 billion / a 

412
00:25:37,920 --> 00:25:41,080
decade. 
The majority El Salvador's GDP 

413
00:25:41,080 --> 00:25:43,080
is 32 billion. 
Just to kind of give you guys an

414
00:25:43,080 --> 00:25:45,960
idea of the scope, right? 
The majority of this spending is

415
00:25:45,960 --> 00:25:48,400
directed towards addressing 
climate change, healthcare 

416
00:25:48,400 --> 00:25:51,880
costs, and energy security. 
Then why is it called the 

417
00:25:51,880 --> 00:25:57,160
Inflation Reduction Act? 
Like it's like it's a gaslight. 

418
00:25:57,200 --> 00:26:00,160
And they're taking advantage of 
the fact that people don't 

419
00:26:00,320 --> 00:26:06,000
understand and they're not aware
of the fact that money can exist

420
00:26:06,080 --> 00:26:09,760
without inflation. 
Politicians have been taking 

421
00:26:09,760 --> 00:26:12,640
advantage of that for a very, 
very long time. 

422
00:26:12,880 --> 00:26:17,120
And then they come to you with 
false hope and solution. 

423
00:26:17,120 --> 00:26:20,200
Like, I'm going to pass a bill. 
Like, it doesn't need to be this

424
00:26:20,200 --> 00:26:21,680
way. 
Yeah, it doesn't need to be this

425
00:26:21,680 --> 00:26:23,600
way if you stop printing money 
now. 

426
00:26:23,760 --> 00:26:25,320
Let's take a look at the data, 
right? 

427
00:26:25,680 --> 00:26:31,440
So if you take a look at at the 
year, right? 

428
00:26:32,120 --> 00:26:35,480
This is when the pandemic 
happened, right? 

429
00:26:36,400 --> 00:26:41,440
Since 2020, that's the M2 money 
supply chart right now. 

430
00:26:41,440 --> 00:26:45,960
Let's take a look at inflation. 
It's 2020 started printing money

431
00:26:46,000 --> 00:26:50,120
2021-2022. 
Isn't that crazy, right? 

432
00:26:50,400 --> 00:26:53,480
And then you hear Elizabeth 
Warren talking about, you know, 

433
00:26:53,480 --> 00:26:56,320
the housing for like the housing
prices like they keep going up. 

434
00:26:56,520 --> 00:26:59,200
Like I don't understand. 
Like it's the ultra. 

435
00:26:59,200 --> 00:27:01,440
We have to tax the ultra wealthy
to fix this. 

436
00:27:01,800 --> 00:27:04,600
OK, so let's take a look at 
housing prices. 

437
00:27:05,240 --> 00:27:10,880
Look at that 2020 how it's, 
it's, it's almost as if it's 

438
00:27:10,880 --> 00:27:12,720
correlated with the money 
supply. 

439
00:27:13,360 --> 00:27:15,480
Look at that. 
Maybe I'm just seeing things 

440
00:27:15,480 --> 00:27:17,480
that are not there. 
Isn't that interesting? 

441
00:27:17,880 --> 00:27:22,400
And it's almost as if the 
inflation rate is correlated to 

442
00:27:22,400 --> 00:27:26,160
the money supply as well. 
Isn't that a coincidence? 

443
00:27:26,160 --> 00:27:30,960
All of these things and then 
government solution right here 

444
00:27:30,960 --> 00:27:34,040
it is, is let's tax the ultra 
wealthy. 

445
00:27:34,680 --> 00:27:38,440
And the other government 
solution and the Inflation 

446
00:27:38,440 --> 00:27:44,280
Reduction Act is to print more 
money which we don't have. the 

447
00:27:44,360 --> 00:27:49,320
US government spent $1.7 
trillion more than a collected 

448
00:27:49,320 --> 00:27:53,640
in tax revenue in 2023. 
How are they able to spend that 

449
00:27:53,640 --> 00:27:56,320
type of money? 
They printed the difference and 

450
00:27:56,320 --> 00:27:58,080
what happens when you print the 
difference? 

451
00:27:58,400 --> 00:28:01,520
This is what happens. 
So Elizabeth Warren, the 

452
00:28:01,520 --> 00:28:06,240
solution to making housing 
prices affordable for the 

453
00:28:06,240 --> 00:28:10,160
average everyday American is not
your freaking bill. 

454
00:28:10,720 --> 00:28:14,520
It's to stop spending money you 
we don't have. 

455
00:28:15,040 --> 00:28:19,440
The the problem is with this 
system is that you can't rely on

456
00:28:19,440 --> 00:28:23,120
the government to do that 
because you have to essentially 

457
00:28:23,120 --> 00:28:26,680
trust that the government isn't 
going to debase the currency. 

458
00:28:26,680 --> 00:28:29,960
This is something that Satoshi 
identified very early on. 

459
00:28:31,160 --> 00:28:34,360
Don't trust verify. 
You don't have to trust anyone 

460
00:28:34,360 --> 00:28:37,880
in Bitcoin. 
It's, it's absolutely scarce. 

461
00:28:37,880 --> 00:28:40,920
There's 21 million, no one's 
going to debase it. 

462
00:28:41,040 --> 00:28:45,200
It's censorship resistant 
because of those things. 

463
00:28:45,680 --> 00:28:48,760
If you've been saving in Bitcoin
for the last three to five 

464
00:28:48,760 --> 00:28:54,160
years, that housing that you saw
going up in Fiat terms has 

465
00:28:54,160 --> 00:28:58,280
actually decreased by 80 to 90%,
even though housing is doubled 

466
00:28:58,280 --> 00:29:02,800
in Fiat terms. 
It's not politicians that are 

467
00:29:02,800 --> 00:29:07,920
going to solve these problems. 
It is individuals choosing to 

468
00:29:07,920 --> 00:29:13,000
opt out of clown world by opting
out of political money, by 

469
00:29:13,000 --> 00:29:15,200
choosing Bitcoin that's going to
solve these problems. 

470
00:29:15,560 --> 00:29:19,240
And none of this was addressed 
during the debate last night. 

471
00:29:20,080 --> 00:29:24,960
This is the solution to these 
problems, not more bills, not 

472
00:29:24,960 --> 00:29:28,360
more politicians. 
Now I'll end it with this. 

473
00:29:28,960 --> 00:29:33,560
That being said, what 
politicians can do for hyper 

474
00:29:33,560 --> 00:29:38,400
bitcoinisation to accelerate is 
get out the way and create a 

475
00:29:38,400 --> 00:29:42,000
positive regulatory environment 
for Bitcoin businesses to 

476
00:29:42,000 --> 00:29:45,320
thrive. 
And there it's a very simple 

477
00:29:45,320 --> 00:29:47,720
decision. 
You have a pro Bitcoin candidate

478
00:29:47,720 --> 00:29:49,240
and you have an anti Bitcoin 
candidate. 

479
00:29:49,640 --> 00:29:53,560
Worse, you have a pro Bitcoin 
candidate, anti CBDC candidate 

480
00:29:53,560 --> 00:29:57,920
and then you have a anti Bitcoin
candidate, pro CBDC candidate. 

481
00:29:58,320 --> 00:30:01,520
So this is just it's clown 
world. 

482
00:30:01,560 --> 00:30:04,720
But the reason that they keep 
getting away with it is a 

483
00:30:04,720 --> 00:30:09,520
failure on our part because that
means that we have not educated 

484
00:30:09,520 --> 00:30:13,360
enough people on the scam that 
is Fiat money. 

485
00:30:13,640 --> 00:30:17,680
And as long as these politicians
are able to operate in an 

486
00:30:17,680 --> 00:30:21,320
environment where most people 
are still asleep and they're 

487
00:30:21,320 --> 00:30:25,080
seeking to politicians for 
solution and they're not taking 

488
00:30:25,080 --> 00:30:29,120
agency and personal 
responsibility and choosing to 

489
00:30:29,120 --> 00:30:33,160
opt out into a better unit of 
account and a better money, then

490
00:30:33,160 --> 00:30:36,040
this is going to keep happening.
And the debates that happened 

491
00:30:36,040 --> 00:30:37,560
last night, they're going to 
keep happening. 

492
00:30:37,800 --> 00:30:41,640
And you're going to continue to 
see more gaslighting with the 

493
00:30:41,640 --> 00:30:45,600
audacity of cause of naming a 
bill called the Inflation 

494
00:30:45,600 --> 00:30:48,520
Reduction Act because they knew 
that people were pissed off 

495
00:30:48,520 --> 00:30:54,760
about inflation, that all it did
was literally spend $369 

496
00:30:54,760 --> 00:30:58,080
billion. 
It is insane. 

497
00:30:58,200 --> 00:31:02,200
So we're going to keep hammering
this message home until enough 

498
00:31:02,200 --> 00:31:06,440
people wake up to the fact that 
Fiat money is a scam. 

499
00:31:06,640 --> 00:31:11,120
All we need is a 5 to 10% of the
minority to wake up to this 

500
00:31:11,120 --> 00:31:13,240
reality. 
And I'm telling you guys, we're 

501
00:31:13,240 --> 00:31:17,760
going to effectuate change more 
than any politician would have 

502
00:31:17,760 --> 00:31:21,280
ever been able to. 
Politicians and government are 

503
00:31:21,280 --> 00:31:23,640
the problem. 
They're the ones causing these 

504
00:31:24,040 --> 00:31:28,120
prices to go where they are. 
It's not anything else. 

505
00:31:28,120 --> 00:31:31,800
And don't let them gaslight you 
to believe otherwise. 

506
00:31:31,800 --> 00:31:34,600
Anyways, I'm going to pass it on
to Cena and then Opti. 

507
00:31:36,920 --> 00:31:40,560
Yeah, well said. 
If you're familiar with this 

508
00:31:40,560 --> 00:31:45,600
thing called a tragedy of the 
Commons, it's kind of something 

509
00:31:45,600 --> 00:31:49,600
that economists discovered, and 
I think someone got a Nobel 

510
00:31:49,600 --> 00:31:53,000
Prize for working on it. 
The idea is if you have a shared

511
00:31:53,000 --> 00:31:58,400
resource that is owned by 
everyone and no specific parties

512
00:31:58,400 --> 00:32:03,080
responsible for it, it ends up 
in tragedy because everyone will

513
00:32:03,080 --> 00:32:06,880
just try to extract as much as 
possible from that resource 

514
00:32:06,880 --> 00:32:09,000
without really owning the 
consequences. 

515
00:32:09,320 --> 00:32:11,000
So it's like you extract for 
yourself. 

516
00:32:11,000 --> 00:32:13,640
Consequences is shared, 
socialized among others. 

517
00:32:14,640 --> 00:32:17,080
And that's exactly what's 
happening in our in our world 

518
00:32:17,080 --> 00:32:20,320
right now. 
Politicians are extracting value

519
00:32:20,320 --> 00:32:23,400
out of every paycheck we get. 
You know, if you add up all the 

520
00:32:23,400 --> 00:32:26,600
things you pay for, perhaps you 
get just a little bit more than 

521
00:32:26,600 --> 00:32:30,520
half of the the wage that your 
employer pays. 

522
00:32:32,240 --> 00:32:38,200
That 30 percent, 40% of it goes 
to a shared pool of easy money 

523
00:32:38,200 --> 00:32:41,120
for these politicians. 
And what they do is they now use

524
00:32:41,120 --> 00:32:45,600
that money to promise their 
friends and family different 

525
00:32:45,720 --> 00:32:49,640
beautiful things. 
And that demand is endless. 

526
00:32:49,640 --> 00:32:52,960
There's endless number of 
parties in a society that just 

527
00:32:52,960 --> 00:32:55,440
want more and more from these 
politicians. 

528
00:32:55,440 --> 00:32:59,680
And they're going to just trade 
those tax dollars with with 

529
00:32:59,680 --> 00:33:04,040
votes and the guarantee that 
they'll remain in power for a 

530
00:33:04,040 --> 00:33:08,440
longer time. 
And this always creates a lot 

531
00:33:08,440 --> 00:33:11,680
more pressure to spend than we 
have money. 

532
00:33:11,880 --> 00:33:17,680
And as you aptly mentioned, Fiat
actually allows us to spend more

533
00:33:17,680 --> 00:33:22,560
than we have and again, 
socialize the cost and have 

534
00:33:22,560 --> 00:33:29,960
everybody else pay for whatever 
plan that a politician, you 

535
00:33:30,000 --> 00:33:35,200
know, devises as a deal with the
stakeholder that they're dealing

536
00:33:35,200 --> 00:33:37,880
with. 
And so this is this is what's, 

537
00:33:38,240 --> 00:33:40,760
you know, democratic system is 
doing. 

538
00:33:40,760 --> 00:33:44,800
They are they are extracting 
value from the society and 

539
00:33:44,800 --> 00:33:50,040
creating a tragedy of Commons 
with the resource that's a tax 

540
00:33:50,040 --> 00:33:52,840
dollar. 
So when they tell me that, you 

541
00:33:52,840 --> 00:33:56,800
know, some in the debate again 
question came up like what have 

542
00:33:56,800 --> 00:33:59,080
you done to do this? 
What have you done to do that? 

543
00:33:59,080 --> 00:34:02,480
And the answer is like, I spent 
so many billion dollars on this.

544
00:34:02,480 --> 00:34:04,760
I created so many tax credits 
for this group. 

545
00:34:05,200 --> 00:34:08,440
I'm like, that's not anything 
you did. 

546
00:34:08,440 --> 00:34:12,520
You simply took money from some 
other people and redistributed 

547
00:34:12,520 --> 00:34:14,760
it to other redistributed to 
other people. 

548
00:34:16,639 --> 00:34:19,880
You didn't create any value in 
that in that work. 

549
00:34:19,880 --> 00:34:24,520
You simply moved someone 
someone's money and gave it to 

550
00:34:24,520 --> 00:34:28,800
someone else. 
Most of the answers, most of the

551
00:34:28,880 --> 00:34:33,880
politicians think the job is to 
is to just redistribute 

552
00:34:33,880 --> 00:34:35,840
resources from one person to the
other. 

553
00:34:35,840 --> 00:34:40,000
But in fact, most of the 
economic problems doesn't need 

554
00:34:40,000 --> 00:34:42,280
anything. 
The solution is not, you know, 

555
00:34:42,520 --> 00:34:45,199
the answer is not telling me 
where you spent money. 

556
00:34:46,080 --> 00:34:50,600
The answer is just get away. 
I mean, get out of the way and 

557
00:34:50,600 --> 00:34:53,480
don't do anything. 
So that's the right answer. 

558
00:34:53,480 --> 00:34:57,520
But what we hear from both sides
is I spend money here, I will 

559
00:34:57,520 --> 00:35:00,320
spend money there. 
I'll create tax credits here. 

560
00:35:01,240 --> 00:35:04,840
But the solution to our problems
is for these people to do 

561
00:35:04,840 --> 00:35:08,760
nothing. 
Absolutely nothing. 100% yeah. 

562
00:35:08,800 --> 00:35:12,400
Like if they just got out of the
way it would be, you know it 

563
00:35:12,400 --> 00:35:17,120
like so that's that's the thing.
And we just we have so much work

564
00:35:17,120 --> 00:35:19,800
to do guys as an edge on on an 
educational level. 

565
00:35:19,960 --> 00:35:24,120
Also appreciate all of you guys 
zapping us some zats, some some 

566
00:35:24,120 --> 00:35:28,720
zats, some sats on ZAP dot 
stream opting real quick about 

567
00:35:28,720 --> 00:35:31,280
2-3 minutes and then we'll go 
into the new segment. 

568
00:35:31,440 --> 00:35:34,880
Yeah, hold on I I think I need 
an accord over here anyway. 

569
00:35:34,920 --> 00:35:38,600
Anyways, but really kind of 
doubling down on what Sina was 

570
00:35:38,600 --> 00:35:44,080
saying, the real issue here is 
not taxing wealthy people. 

571
00:35:44,240 --> 00:35:48,920
But I think the signal here, or 
rather the, you know, the the 

572
00:35:48,920 --> 00:35:51,520
message behind what Elizabeth 
Warren is saying is that most 

573
00:35:51,520 --> 00:35:54,080
people are just really 
economically illiterate. 

574
00:35:54,080 --> 00:35:55,960
They just don't understand how 
things work. 

575
00:35:56,200 --> 00:35:59,760
It's obviously an emotional plea
that Elizabeth Warren is saying 

576
00:35:59,760 --> 00:36:01,680
right now. 
It is fashionable right now to 

577
00:36:01,680 --> 00:36:03,640
think that it's the wealthy 
people that are ruining the 

578
00:36:03,640 --> 00:36:06,320
country, that it's the wealthy 
people that are taking advantage

579
00:36:06,320 --> 00:36:09,120
of the average everyday person, 
where in reality we're all 

580
00:36:09,120 --> 00:36:12,440
getting poorer because of Fiat 
money, because government debt, 

581
00:36:12,440 --> 00:36:15,680
because government words is our 
money right now. 

582
00:36:16,160 --> 00:36:17,800
All you have to do is trust in 
the system. 

583
00:36:17,800 --> 00:36:20,520
And they're going to continue to
flood the system with more Fiat 

584
00:36:20,520 --> 00:36:22,960
money in it, which is going to 
devalue everything. 

585
00:36:23,280 --> 00:36:26,720
And so when you hear them say we
just need to tax the rich more 

586
00:36:26,720 --> 00:36:30,600
so that you can have affordable 
whatever in reality, I always 

587
00:36:30,600 --> 00:36:33,280
just look at it. 
It's them deflecting from the 

588
00:36:33,280 --> 00:36:35,400
real problem. 
Hence why I started this with, I

589
00:36:35,400 --> 00:36:39,120
didn't hear one point in that 
whole debate last night about 

590
00:36:39,120 --> 00:36:42,200
them printing more money or them
stopping to print money. 

591
00:36:42,440 --> 00:36:45,160
All I heard is what Cena was 
saying is like, oh, I spent 

592
00:36:45,160 --> 00:36:48,040
billions of dollars to fix this.
And it's like, that is the 

593
00:36:48,040 --> 00:36:50,880
fundamental issue here is the 
amount of money that is being 

594
00:36:50,880 --> 00:36:55,120
created, which is devaluing all 
of our holdings and all of our 

595
00:36:55,120 --> 00:36:56,760
wealth. 
And if you aren't wealthy enough

596
00:36:56,760 --> 00:37:00,360
to own assets, you're getting, 
you're getting poorer, you're 

597
00:37:00,400 --> 00:37:02,720
you're getting wrecked by the 
system. 

598
00:37:02,960 --> 00:37:06,440
The system is designed in a way 
where if you do not hold assets,

599
00:37:06,440 --> 00:37:08,920
if you are only saving in 
dollars, you are going to get 

600
00:37:08,920 --> 00:37:10,840
poorer. 
And this is by design. 

601
00:37:11,040 --> 00:37:14,400
And even if you really take into
account Elizabeth Warrens 

602
00:37:14,760 --> 00:37:19,240
strategy or bill of taxing the 
wealthy, it's also a cap on 

603
00:37:19,240 --> 00:37:21,440
whether you have social 
mobility, whether you can 

604
00:37:21,440 --> 00:37:23,800
actually move up in the system. 
You there's never going to be an

605
00:37:23,800 --> 00:37:26,480
escape from this. 
Everything I'm hearing is just 

606
00:37:26,480 --> 00:37:30,040
different mechanisms to keep 
everyone else poor and keep 

607
00:37:30,040 --> 00:37:34,280
their at this point, you know, 
cartel or military over the OR 

608
00:37:34,280 --> 00:37:38,080
sorry, cartel or mafia over the 
money printing that is going to 

609
00:37:38,080 --> 00:37:40,800
keep us all in perpetual 
poorness forever. 

610
00:37:40,800 --> 00:37:44,080
This is why we Bitcoin is so you
can save in something that they 

611
00:37:44,080 --> 00:37:46,040
can't control, control that they
can't debase. 

612
00:37:46,200 --> 00:37:49,040
And this is the whole point. 
This is This is why Bitcoin 

613
00:37:49,280 --> 00:37:52,280
really pulls a trump card on the
Fiat system. 

614
00:37:52,280 --> 00:37:56,040
It they're they can't 
financially engineer the system 

615
00:37:56,040 --> 00:37:57,920
anymore. 
With Bitcoin though, they're 

616
00:37:57,920 --> 00:38:00,840
going to try. 
The real problem is they don't 

617
00:38:00,840 --> 00:38:03,400
know how to balance a checkbook.
This is the problem. 

618
00:38:03,400 --> 00:38:05,240
They're spending more money than
they have. 

619
00:38:05,240 --> 00:38:08,200
And it seems to be OK on the 
federal level. 

620
00:38:08,200 --> 00:38:11,160
But when we do it on an 
individual level, you go 

621
00:38:11,160 --> 00:38:13,400
bankrupt. 
Do you know the US has already 

622
00:38:13,400 --> 00:38:15,560
been bankrupt? 
And Elon's been saying like the 

623
00:38:15,680 --> 00:38:18,480
US is about to go bankrupt. 
It's like, man, what happened in

624
00:38:18,480 --> 00:38:21,800
1971? 
What happened in 1913 when the 

625
00:38:21,800 --> 00:38:24,680
Federal Reserve was created? 
It's like we've been on this 

626
00:38:24,680 --> 00:38:28,520
runaway train for a long time. 
And now we have a fix, which is 

627
00:38:28,520 --> 00:38:30,760
Bitcoin. 
And more people need to wake up 

628
00:38:30,760 --> 00:38:32,200
to it and more people need to 
learn to it. 

629
00:38:32,200 --> 00:38:34,880
More people need to invest their
capital and their wealth in 

630
00:38:34,880 --> 00:38:37,080
Bitcoin. 
And things will start to change.

631
00:38:37,080 --> 00:38:39,360
And it's happening in. 
It's slowly but surely it's 

632
00:38:39,360 --> 00:38:42,080
happening. 
Absolutely, 100%. 

633
00:38:42,400 --> 00:38:45,920
All right, everybody, before we 
move on to the new segment, stay

634
00:38:45,920 --> 00:38:48,760
tuned because we're going to 
talk about Max Keiser's theory, 

635
00:38:48,760 --> 00:38:51,800
the global hash war. 
It's playing out in real time. 

636
00:38:52,120 --> 00:38:54,880
This is going to be the next 5 
to 10 years. 

637
00:38:54,880 --> 00:38:59,400
It's going to be it's going to 
be Bitcoin growing up, heading 

638
00:38:59,400 --> 00:39:01,240
to the next phase. 
So stay tuned. 

639
00:39:01,240 --> 00:39:03,280
We'll be right back. 
Let's head into the news. 

640
00:39:03,280 --> 00:39:04,480
Let's do this. 
Here we go. 

641
00:39:08,040 --> 00:39:10,960
Special shout out to our sponsor
Compass Mining. 

642
00:39:11,320 --> 00:39:14,760
They make Bitcoin mining 
accessible to everyone from 

643
00:39:14,760 --> 00:39:17,320
beginners to experienced 
investors. 

644
00:39:17,640 --> 00:39:21,880
Their turnkey miners gets you 
online and hashing within 48 

645
00:39:21,880 --> 00:39:25,640
hours, making it easier than 
ever to start your mining 

646
00:39:25,640 --> 00:39:28,200
journey. 
Plus, with their active 

647
00:39:28,200 --> 00:39:32,040
marketplace, you can resell your
miner at any time, adding 

648
00:39:32,040 --> 00:39:34,520
flexibility and value to your 
investment. 

649
00:39:35,120 --> 00:39:38,920
Visit their website to access a 
wealth of resources, learning 

650
00:39:38,920 --> 00:39:41,440
everything you need to know 
about Bitcoin mining. 

651
00:39:41,600 --> 00:39:45,360
Take your first step into the 
world of Bitcoin mining with 

652
00:39:45,360 --> 00:39:48,400
confidence. 
Discover more at Compass Mining 

653
00:39:48,480 --> 00:39:52,040
dot IO. 
Again, Compass mining dot IO and

654
00:39:52,040 --> 00:39:55,480
see how Compass Mining can power
your success. 

655
00:39:55,480 --> 00:40:05,440
I want to. 
Give a shout out to our sponsor 

656
00:40:05,480 --> 00:40:07,920
foundation. 
It's self custody done right. 

657
00:40:08,120 --> 00:40:11,840
They've built a premium grade 
hardware wallet called Passport 

658
00:40:12,000 --> 00:40:15,400
right here in the US, and it 
integrates seamlessly with their

659
00:40:15,400 --> 00:40:19,720
free A called Envoy. 
Passport is fully open source 

660
00:40:19,720 --> 00:40:22,480
and verifiable. 
It's the most intuitive Bitcoin 

661
00:40:22,480 --> 00:40:26,120
wallet design with a UX 
reminiscent of a classic feature

662
00:40:26,120 --> 00:40:28,960
phone, so you'll know how to 
navigate it and use it the 

663
00:40:28,960 --> 00:40:31,880
moment you pick it up. 
It's also air gaps, meaning 

664
00:40:31,880 --> 00:40:35,680
Bitcoin stays offline, never 
touching an Internet connection.

665
00:40:35,880 --> 00:40:39,880
It's Bitcoin only open source, 
verifiable air gap security 

666
00:40:39,880 --> 00:40:42,960
model, gorgeous design craft 
premium grade materials. 

667
00:40:43,120 --> 00:40:47,160
Get your Bitcoin off exchanges 
and into your own hands in just 

668
00:40:47,160 --> 00:40:50,840
a few minutes with passport at 
foundation dot XYZ slash. 

669
00:40:50,840 --> 00:40:55,120
Simply get Peace of Mind for 
your piece of Bitcoin. 

670
00:40:56,080 --> 00:40:58,120
All right everybody use the 
promo code. 

671
00:40:58,120 --> 00:41:00,440
I mean use the QR code on your 
screen right now, take you 

672
00:41:00,440 --> 00:41:04,120
directly to the passport by 
foundation devices website where

673
00:41:04,120 --> 00:41:08,560
you can use promo code simply to
get a discount on their hardware

674
00:41:08,560 --> 00:41:11,120
wallet. 
All right, everybody, so let's 

675
00:41:11,120 --> 00:41:13,760
talk about this. 
Here's Max Keiser being 

676
00:41:13,760 --> 00:41:16,960
interviewed by Isabella Santos 
at the Bitcoin Conference in 

677
00:41:16,960 --> 00:41:20,000
Nashville, 2024. 
Everyone comes to Bitcoin 

678
00:41:20,000 --> 00:41:21,600
eventually. 
You get it at the price you 

679
00:41:21,600 --> 00:41:23,920
deserve. 
Everything goes to zero against 

680
00:41:23,920 --> 00:41:25,640
Bitcoin. 
OK, Donald Trump's learning 

681
00:41:25,640 --> 00:41:28,840
curve on Bitcoin just started 
and you know, he's like a lot of

682
00:41:28,840 --> 00:41:31,200
people that come to Bitcoin and 
said, I just found Bitcoin, 

683
00:41:31,480 --> 00:41:35,480
here's how you improve it. 
No, you are second to Bitcoin. 

684
00:41:35,520 --> 00:41:38,680
You will have to bend the knee 
to Bitcoin just like everybody 

685
00:41:38,680 --> 00:41:40,760
else. 
Bitcoin is on its own vector. 

686
00:41:40,840 --> 00:41:42,520
What does the United States or 
the. 

687
00:41:42,640 --> 00:41:45,320
President that is in the 
election have to do, you know, 

688
00:41:45,320 --> 00:41:48,000
to bend the knee, he has to make
Bitcoin legal tender. 

689
00:41:48,400 --> 00:41:51,240
He has to start putting Bitcoin 
on the treasury of the US 

690
00:41:51,240 --> 00:41:54,120
government and he has to start 
in the Bitcoin global hash war. 

691
00:41:54,440 --> 00:41:56,640
Every country is not going to be
adding Bitcoin to the reserve 

692
00:41:56,640 --> 00:41:59,640
status to compete in the global 
hash war in the 21st century. 

693
00:41:59,640 --> 00:42:02,040
That's World War Bitcoin. 
You have to have Bitcoin. 

694
00:42:02,040 --> 00:42:05,840
It's a it's a mad scramble to 
get more Bitcoin because the 

695
00:42:05,840 --> 00:42:08,440
Fiat money world is collapsing. 
So if you want to win World War 

696
00:42:08,440 --> 00:42:11,080
Bitcoin, you need to start 
accumulating and hoarding and 

697
00:42:11,080 --> 00:42:14,400
buying and stacking Bitcoin 
aggressively as soon as 

698
00:42:14,400 --> 00:42:17,920
possible. 
And that's hopefully the US is 

699
00:42:17,920 --> 00:42:21,360
already far behind. 
You know, I wish them luck. 

700
00:42:22,240 --> 00:42:24,680
So, OK, a couple of things to 
unpack here, right? 

701
00:42:25,160 --> 00:42:29,280
First thing is the this idea of 
the global hash war, right? 

702
00:42:30,360 --> 00:42:34,880
And that you'll see more and 
more countries try to get 

703
00:42:34,880 --> 00:42:38,640
exposure to Bitcoin in a a 
variety of different ways. 

704
00:42:38,680 --> 00:42:43,120
Also, one thing I do want to 
mention about Macs, Max was 

705
00:42:43,120 --> 00:42:48,480
telling people about Bitcoin 
since it was basically a dollar,

706
00:42:48,760 --> 00:42:51,480
right? 
He's been around the block. 

707
00:42:51,480 --> 00:42:56,160
He's, you know, Bitcoin OG. 
And remember back then, a lot of

708
00:42:56,160 --> 00:43:00,120
people reacted to Max the same 
way that potentially some people

709
00:43:00,120 --> 00:43:03,520
are reacting to Max when he's 
talking about, you know, the 

710
00:43:04,040 --> 00:43:07,000
Bitcoin global hash war. 
It it it's like like, what are 

711
00:43:07,000 --> 00:43:09,160
you talking about? 
A mad scrambled a Bitcoin like 

712
00:43:09,480 --> 00:43:10,640
never going to see that 
happening. 

713
00:43:10,640 --> 00:43:12,880
Well, it's already happening. 
And I'll make the case for you 

714
00:43:12,880 --> 00:43:15,720
guys right now. 
First in El Salvador, El 

715
00:43:15,720 --> 00:43:18,720
Salvador, they've made their 
reserves public. 

716
00:43:18,720 --> 00:43:21,400
Every single day they acquire 
one Bitcoin. 

717
00:43:21,560 --> 00:43:24,760
It continues to go up, not to 
mention their mining capacity. 

718
00:43:24,800 --> 00:43:30,280
Also, we have the CEOs of large 
publicly traded Bitcoin miners 

719
00:43:30,440 --> 00:43:35,040
saying stuff like Bitcoin is a 
national security concern for 

720
00:43:35,040 --> 00:43:37,880
this country. 
Let's take let's take a look at 

721
00:43:37,880 --> 00:43:40,520
what the Marathon CEO has to 
say. 

722
00:43:40,680 --> 00:43:44,400
Bitcoin is of national security 
concern for this country. 

723
00:43:44,720 --> 00:43:48,040
Russia is the world's second 
largest Bitcoin mining nation. 

724
00:43:48,560 --> 00:43:51,920
Countries that operate on a 
Bitcoin standard from a 

725
00:43:51,920 --> 00:43:55,960
perspective of transacting and 
holding Bitcoin can transact 

726
00:43:55,960 --> 00:43:57,840
outside of the sanctions 
environment. 

727
00:43:57,840 --> 00:44:00,520
They can transact outside of 
government controls. 

728
00:44:00,960 --> 00:44:04,920
If the US does not have a 
substantial amount of Bitcoin 

729
00:44:04,920 --> 00:44:09,840
mining on shore, they can be 
locked out and U.S. companies 

730
00:44:09,840 --> 00:44:12,600
can be locked out of transacting
their Bitcoin. 

731
00:44:12,920 --> 00:44:16,360
So strategic ownership of block 
spaces of a national security 

732
00:44:16,360 --> 00:44:19,080
concern. 
And that's why with 40% of 

733
00:44:19,080 --> 00:44:24,360
global Bitcoin mining in the US,
the US must maintain at 

734
00:44:24,360 --> 00:44:29,360
dominance, not just in Bitcoin 
mining, but also in the holding 

735
00:44:29,360 --> 00:44:33,400
of Bitcoin assets in U.S. 
companies, whether they're ETFs,

736
00:44:33,400 --> 00:44:35,440
whether they're Bitcoin mining 
companies, whether it's 

737
00:44:35,440 --> 00:44:38,320
MicroStrategy. 
But the US must maintain 

738
00:44:38,320 --> 00:44:41,760
dominance because by the same 
reason the US holds 40% of the 

739
00:44:41,760 --> 00:44:45,280
gold reserves in the world, they
can exert influence in financial

740
00:44:45,280 --> 00:44:47,320
markets. 
They have to do that as the 

741
00:44:47,320 --> 00:44:49,280
world transitions to digital 
currencies. 

742
00:44:49,560 --> 00:44:51,720
OK, it's incredibly well said. 
Ben, do you have anything you 

743
00:44:51,720 --> 00:44:54,560
want? 
So what, what does that remind 

744
00:44:54,560 --> 00:44:57,680
you of with what Kaiser was 
saying, right? 

745
00:44:57,840 --> 00:45:02,680
Kaiser was saying in a prophetic
way like this, this Kaiser has 

746
00:45:02,680 --> 00:45:05,800
been saying this for years. 
You have to understand that. 

747
00:45:06,400 --> 00:45:09,680
And then you now have the, I 
believe his name is Fred Teal. 

748
00:45:09,680 --> 00:45:14,680
You have the CEO of Marathon 
saying we have to like the we 

749
00:45:14,680 --> 00:45:18,880
have to stay on top of this. 
And then you had Trump at the 

750
00:45:18,880 --> 00:45:22,480
Bitcoin conference literally 
saying, which is just common 

751
00:45:22,480 --> 00:45:24,840
sense. 
If the Bitcoin doesn't take, 

752
00:45:25,040 --> 00:45:27,920
sorry, if the United States 
doesn't take a leadership role 

753
00:45:28,320 --> 00:45:31,320
within the Bitcoin industry, 
then China's going to do it. 

754
00:45:31,920 --> 00:45:34,240
And here's the beautiful thing 
about all of this, guys, 

755
00:45:34,240 --> 00:45:37,640
specifically if like you're not 
American or you're whatever, 

756
00:45:37,640 --> 00:45:41,120
like look at it from this way, 
when country, and this is a 

757
00:45:41,120 --> 00:45:42,360
theory from the sovereign 
individual. 

758
00:45:42,600 --> 00:45:47,200
When countries start competing 
for your business and your 

759
00:45:47,200 --> 00:45:50,960
Bitcoin and you're a Bitcoin 
holder, you know who wins? 

760
00:45:51,240 --> 00:45:55,840
You do the individual, anyone 
who is holding Bitcoin is 

761
00:45:55,920 --> 00:45:58,720
actively working for you. 
That's something that people 

762
00:45:58,720 --> 00:46:00,600
have to understand. 
That's something that you have 

763
00:46:00,600 --> 00:46:04,280
to wrap your head around and 
shout out to Kaiser for once 

764
00:46:04,280 --> 00:46:08,240
again being prophetic in this 
and just noticing because it's 

765
00:46:08,240 --> 00:46:11,720
the game theory playing out now.
Fred Thiel said something really

766
00:46:11,720 --> 00:46:15,000
interesting about Russia. 
Guess what, ladies and 

767
00:46:15,000 --> 00:46:18,960
gentlemen? 
Russia just legalized Bitcoin 

768
00:46:18,960 --> 00:46:23,200
mining and Bitcoin for 
international trade. 

769
00:46:23,400 --> 00:46:28,160
This happened September 1st was 
when the bill went into action. 

770
00:46:28,640 --> 00:46:32,480
So could you imagine a country 
like Russia, which you can make 

771
00:46:32,480 --> 00:46:35,400
a very strong case as an 
authoritarian regime with Putin?

772
00:46:36,040 --> 00:46:42,600
Could you imagine why they would
see the necessity to make 

773
00:46:42,600 --> 00:46:45,040
something like Bitcoin legal 
tender? 

774
00:46:45,400 --> 00:46:49,120
Sorry, not legal tender. 
They would make Bitcoin mining 

775
00:46:49,120 --> 00:46:52,200
legal. 
Why do you think that's 

776
00:46:52,200 --> 00:46:55,320
happening? 
Well, they see exactly what Mac 

777
00:46:55,320 --> 00:46:58,120
sees. 
They see exactly what the CEO of

778
00:46:58,120 --> 00:47:01,400
Marathon sees. 
It's not an option. 

779
00:47:01,560 --> 00:47:05,280
It's a necessity as the world 
transitions to digital assets. 

780
00:47:05,280 --> 00:47:08,400
Now, this isn't just happening 
in the United States and Russia.

781
00:47:08,680 --> 00:47:10,720
This is something that's 
happening worldwide. 

782
00:47:11,440 --> 00:47:13,560
This is something that we 
mentioned a couple days ago. 

783
00:47:14,520 --> 00:47:19,520
Japan's largest electricity 
provider explores Bitcoin mining

784
00:47:19,720 --> 00:47:24,480
with surplus renewable energy. 
So now you have the largest 

785
00:47:25,120 --> 00:47:30,320
energy provider in Japan is 
actively mining Bitcoin. 

786
00:47:30,640 --> 00:47:32,440
This is not an isolated 
incident. 

787
00:47:32,560 --> 00:47:34,920
We've talked to you guys about 
the Kingdom of Bhutan. 

788
00:47:35,600 --> 00:47:38,400
Bhutan partnered with one of the
large, one of the world's 

789
00:47:38,400 --> 00:47:41,240
largestly public traded, 
publicly traded Bitcoin miners 

790
00:47:41,440 --> 00:47:44,080
bit deer. 
And guess what? 

791
00:47:44,480 --> 00:47:51,920
They increased their mining 
capacity from 100 megawatts to 

792
00:47:52,360 --> 00:47:57,840
600 megawatts, meaning they 
added 500 megawatts of mining 

793
00:47:58,000 --> 00:48:02,560
capacity and infrastructure 
right before the halving. 

794
00:48:02,920 --> 00:48:08,240
What does that tell you about 
what they anticipate is going to

795
00:48:08,240 --> 00:48:11,680
be Bitcoins future price 
appreciation? 

796
00:48:12,320 --> 00:48:16,360
You don't make that type of 
investment into Bitcoin mining 

797
00:48:16,840 --> 00:48:21,200
with the halving around the 
corner, if you don't believe 

798
00:48:21,200 --> 00:48:25,360
that the dollar term, the 
appreciation of Bitcoin is going

799
00:48:25,360 --> 00:48:29,120
to continue into the future. 
So now you have the United 

800
00:48:29,120 --> 00:48:32,200
States, you have Russia, you 
have Japan, you have El 

801
00:48:32,200 --> 00:48:36,160
Salvador, you have Paraguay and 
energy companies as well. 

802
00:48:36,160 --> 00:48:38,040
Actually, this came out two 
years ago. 

803
00:48:38,400 --> 00:48:42,240
Exxon Mobil is mining Bitcoin in
North Dakota as part of its 

804
00:48:42,240 --> 00:48:47,360
plans to slash emissions. 
So the writing is on the wall. 

805
00:48:47,680 --> 00:48:50,800
And I think it's a it's a game 
of musical chairs. 

806
00:48:50,800 --> 00:48:53,720
It's a game of very, very big 
musical chairs. 

807
00:48:53,800 --> 00:48:59,280
Why? 
Because unlike gold and I and I,

808
00:48:59,400 --> 00:49:04,080
I told you guys this yesterday, 
I like physical gold, but 

809
00:49:04,080 --> 00:49:06,480
physical gold isn't absolutely 
scarce. 

810
00:49:06,480 --> 00:49:07,880
You don't know how much gold is 
in the ground. 

811
00:49:07,880 --> 00:49:09,840
You don't know how much gold is 
floating in outer space. 

812
00:49:11,520 --> 00:49:14,760
When the price of gold goes up, 
the amount of gold production 

813
00:49:14,760 --> 00:49:17,680
goes up with it. 
So the average inflation rate of

814
00:49:17,680 --> 00:49:20,920
gold is roughly like 2 to 3% on 
a yearly basis. 

815
00:49:21,760 --> 00:49:28,880
The inflation rate of Bitcoin 
right now is at 1.38% and it's 

816
00:49:28,880 --> 00:49:33,520
guaranteed to get cut in half in
four years and four years after 

817
00:49:33,520 --> 00:49:35,200
that, it's going to get cut in 
half again. 

818
00:49:36,320 --> 00:49:42,720
Bitcoin is absolutely scarce. 
And if you're are, there's 

819
00:49:42,720 --> 00:49:45,920
roughly 50 to 60 million 
millionaires all around the 

820
00:49:45,920 --> 00:49:48,520
world, but there's only 21 
million Bitcoin. 

821
00:49:49,080 --> 00:49:52,040
Do the math. 
And then not to mention, it's 

822
00:49:52,040 --> 00:49:55,040
not only the millionaires that 
are competing for this, it's 

823
00:49:55,200 --> 00:49:58,560
nation states, it's public 
companies like Michael Saylor. 

824
00:49:58,680 --> 00:50:04,080
Michael Saylor has proven that 
his strategy is outperforming 

825
00:50:04,080 --> 00:50:10,000
everyone, including NVIDIA. 
Like, like what is coming is 

826
00:50:10,000 --> 00:50:14,600
essentially people realizing 
that, holy cow, we need to get a

827
00:50:14,600 --> 00:50:18,280
hold of this asset. 
The problem for a lot of these 

828
00:50:18,280 --> 00:50:21,480
governments and a lot of these 
millionaires, a lot whatever is 

829
00:50:21,480 --> 00:50:23,880
that there's only 21 million 
Bitcoin. 

830
00:50:24,760 --> 00:50:26,560
Are you going to sell your 
Bitcoin to them? 

831
00:50:26,560 --> 00:50:29,840
I'm not going to opti. 
Are you going to sell your 

832
00:50:29,840 --> 00:50:33,760
Bitcoin to BlackRock or Russia 
or any of these nation states? 

833
00:50:34,320 --> 00:50:38,880
Cena, are you going to sell your
Bitcoin to BlackRock and Russia 

834
00:50:38,880 --> 00:50:40,560
and any of these nation states? 
No. 

835
00:50:40,920 --> 00:50:43,120
So what's going to happen? 
The price is going to go up. 

836
00:50:43,120 --> 00:50:45,680
I'm still not going to sell it 
because I'm not in this for the 

837
00:50:45,680 --> 00:50:47,960
money anymore. 
I'm in this for the freaking 

838
00:50:47,960 --> 00:50:50,480
revolution, baby. 
Anyway, Cena, what are your 

839
00:50:50,480 --> 00:50:53,520
thoughts on all this? 
Is Max Keiser saying crazy 

840
00:50:53,520 --> 00:50:55,320
things? 
Do you agree with his 

841
00:50:55,320 --> 00:50:56,960
perspective? 
What's your take? 

842
00:50:58,720 --> 00:51:00,800
Yeah. 
The first thing I'll say is for 

843
00:51:00,800 --> 00:51:05,960
a lot of us, you know, Bitcoin 
is, is a solution to the to a 

844
00:51:05,960 --> 00:51:10,120
lot of the economic problems and
perhaps beyond that and 

845
00:51:10,840 --> 00:51:14,520
important to realize that, you 
know, making money or think of 

846
00:51:14,520 --> 00:51:16,920
it, thinking of it as an 
investment is one part of it. 

847
00:51:16,920 --> 00:51:21,360
But what really, really excites 
me is, is the fact that I think 

848
00:51:21,440 --> 00:51:25,960
I truly believe that Bitcoin 
adoption of Bitcoin is a step 

849
00:51:25,960 --> 00:51:28,640
forward. 
It's going to improve economics.

850
00:51:28,640 --> 00:51:31,680
It's going to create more and 
more wealth for a lot of people 

851
00:51:31,680 --> 00:51:37,880
and solve, solve the issue. 
So to me, the revolution part is

852
00:51:37,880 --> 00:51:40,280
extremely important and 
extremely relevant. 

853
00:51:40,280 --> 00:51:42,440
And it just, that's what excites
me. 

854
00:51:42,440 --> 00:51:47,520
I remember just bursting into, I
was crying when I heard El 

855
00:51:47,520 --> 00:51:52,240
Salvador adopting Bitcoin. 
Not because I thought my bags 

856
00:51:52,240 --> 00:51:54,800
are going to go up, right? 
Just because I, I, you know, all

857
00:51:54,800 --> 00:51:59,440
the, all the kind of all the 
ideas that were in our heads in 

858
00:51:59,440 --> 00:52:02,720
terms of what's possible, what's
how the world is going to change

859
00:52:02,720 --> 00:52:06,440
and how, how Bitcoin is going to
affect change in the world. 

860
00:52:06,640 --> 00:52:09,880
It was materializing. 
And since then, I mean, before 

861
00:52:09,880 --> 00:52:13,320
and after everything is just 
happening according to the 

862
00:52:13,680 --> 00:52:19,080
proverbial plan. 
I remember a few years back, I, 

863
00:52:19,240 --> 00:52:23,280
I was running an educational 
platform with live sessions 

864
00:52:23,280 --> 00:52:25,120
answering people's questions 
about Bitcoin. 

865
00:52:25,120 --> 00:52:28,640
And something that typically 
came up was government is going 

866
00:52:28,640 --> 00:52:30,680
to ban it. 
And we were explaining to 

867
00:52:30,680 --> 00:52:33,320
people, hey, you know, talking 
about game theory, talking about

868
00:52:33,320 --> 00:52:36,600
the idea that government is not 
one thing. 

869
00:52:36,600 --> 00:52:39,640
It's a lot of people are not a 
lot of stakeholders, a lot of 

870
00:52:40,320 --> 00:52:44,880
parts, it's not a monolith and 
they will never agree on the 

871
00:52:44,880 --> 00:52:47,080
same thing. 
And if one part of the 

872
00:52:47,080 --> 00:52:49,600
government wants to ban 
something, another part realizes

873
00:52:49,600 --> 00:52:50,800
that there's something to be 
gained. 

874
00:52:50,800 --> 00:52:53,960
And same idea happens across 
government, between governments 

875
00:52:53,960 --> 00:52:56,360
as well. 
If one government wants to ban 

876
00:52:56,360 --> 00:52:59,000
it, another government figures 
out, hey, we can make some money

877
00:52:59,000 --> 00:53:00,360
here. 
It's it's going to help us. 

878
00:53:00,360 --> 00:53:02,400
It's going to help our help our 
treasury. 

879
00:53:02,400 --> 00:53:05,720
So that was that. 
That was very unlikely to 

880
00:53:05,720 --> 00:53:08,720
happen. 
But at a few years back, this 

881
00:53:08,720 --> 00:53:12,160
was just an idea. 
It was our analysis, but just 

882
00:53:12,160 --> 00:53:16,560
seeing this happen in real time,
year after year, it's just 

883
00:53:16,560 --> 00:53:21,240
amazing. 
And and we it's happening before

884
00:53:21,240 --> 00:53:24,880
our eyes and we just have to see
it and a lot of people don't, 

885
00:53:24,880 --> 00:53:26,840
right. 
This is how you miss some of the

886
00:53:26,840 --> 00:53:29,760
biggest changes in the world by 
just not looking. 

887
00:53:30,440 --> 00:53:33,640
And you know, this year we've 
had some of the biggest changes 

888
00:53:33,640 --> 00:53:38,640
in Bitcoin adoption, obviously 
with the ETFs, approval of the 

889
00:53:38,680 --> 00:53:43,000
ETFs, Wall Street is coming to 
Bitcoin. 

890
00:53:43,280 --> 00:53:46,920
We heard of pension funds. 
Some of the most conservative 

891
00:53:48,040 --> 00:53:57,400
institutions are now investing. 
Wisconsin Board of WISPI, think 

892
00:53:57,400 --> 00:54:00,040
I forgot the full name. 
They are now investing and they 

893
00:54:00,040 --> 00:54:01,640
will definitely do more and 
more. 

894
00:54:02,200 --> 00:54:07,680
And 17, more than $17 billion of
Wall Street money has come to 

895
00:54:07,680 --> 00:54:11,040
Bitcoin. 
Then we have specific companies 

896
00:54:11,040 --> 00:54:14,800
that are learning from Michael 
Saylor and taking a page from 

897
00:54:14,800 --> 00:54:16,920
his playbook. 
There's Similar Scientific. 

898
00:54:16,920 --> 00:54:20,560
He will be a mini Michael Saylor
in the next few quarters. 

899
00:54:21,520 --> 00:54:26,440
Similar Scientific is a medical 
device manufacturer and his CEO.

900
00:54:26,440 --> 00:54:29,760
Just listen to, you know what 
the CEO says. 

901
00:54:29,760 --> 00:54:33,720
It's exactly Michael Saylor type
stuff in terms of conviction and

902
00:54:33,720 --> 00:54:39,040
belief in Bitcoin and and so on.
We also have the same thing 

903
00:54:39,040 --> 00:54:41,840
happening outside of the US. 
Like there's a meta planet in 

904
00:54:41,840 --> 00:54:45,480
Japan that's exactly doing this.
Another Michael Saylor move. 

905
00:54:45,480 --> 00:54:48,120
And there will be many, many 
more that we're not we're just 

906
00:54:48,120 --> 00:54:51,320
not hearing of, right. 
It's many institutions are 

907
00:54:51,320 --> 00:54:55,200
silently adopting Bitcoin and 
taking positions without 

908
00:54:55,200 --> 00:54:58,560
disclosing it. 
Some have incentive to disclose 

909
00:54:58,560 --> 00:55:01,080
it, but a lot of them do not. 
They they think they won't gain 

910
00:55:01,080 --> 00:55:04,120
much by by doing that. 
It's much better to silently 

911
00:55:05,200 --> 00:55:11,120
accumulate and we, if you just 
use your imagination, you'll see

912
00:55:11,440 --> 00:55:15,200
many things are happening below 
the surface and they will, we 

913
00:55:15,200 --> 00:55:16,960
will, we will see them as time 
goes on. 

914
00:55:17,200 --> 00:55:19,000
Same thing happening with nation
states. 

915
00:55:19,360 --> 00:55:23,400
We have El Salvador, we have 
several other nation states 

916
00:55:23,400 --> 00:55:26,240
interested in adopting it, 
putting it on their treasury. 

917
00:55:26,240 --> 00:55:29,240
And we have several other 
countries that are interested 

918
00:55:29,240 --> 00:55:33,320
and and I'm sure they're 
actively investing in expanding 

919
00:55:33,320 --> 00:55:39,480
their mining operations. 
And a very simple one is say you

920
00:55:39,480 --> 00:55:43,480
talk about Russia, but we also 
haven't heard much concrete 

921
00:55:43,720 --> 00:55:46,960
plans for from the Middle East 
and oil producing countries. 

922
00:55:46,960 --> 00:55:49,840
Do you think they have an 
incentive to mine Bitcoin? 

923
00:55:50,240 --> 00:55:55,000
Well, if you have so much oil, 
if you have so much gas, so much

924
00:55:55,000 --> 00:56:00,520
energy, and there is an 
international buyer that doesn't

925
00:56:00,880 --> 00:56:05,080
require you to agree to 
anything, it's a perpetual 

926
00:56:05,080 --> 00:56:07,280
buyer. 
You can sell your energy to that

927
00:56:07,280 --> 00:56:14,720
system anytime, 24/7 and and get
a handsome, handsome money for 

928
00:56:14,720 --> 00:56:16,120
it. 
You don't need any permission to

929
00:56:16,120 --> 00:56:19,720
participate in anyone's money. 
You simply use your energy to 

930
00:56:19,720 --> 00:56:23,000
mine Bitcoin. 
So it's a perpetual importer of 

931
00:56:23,000 --> 00:56:25,280
energy. 
Do you think the oil exporters 

932
00:56:25,280 --> 00:56:27,880
are interested in in mining and 
getting into the game? 

933
00:56:28,320 --> 00:56:32,400
Of course, at any level you 
think about it, there is 

934
00:56:32,400 --> 00:56:36,920
adoption and people sometimes 
get so impatient they just want 

935
00:56:36,920 --> 00:56:39,200
the price to moon, you know, 
this weekend. 

936
00:56:39,560 --> 00:56:44,120
But everything is happening 
according to, you know what we 

937
00:56:44,120 --> 00:56:47,280
were expecting that the trend I 
just put out A to it as well, 

938
00:56:48,360 --> 00:56:51,720
showing the the trend of Bitcoin
addresses. 

939
00:56:52,480 --> 00:56:56,640
And it's very interesting you 
see Bitcoin going from a bull 

940
00:56:56,640 --> 00:57:00,920
market to a bear market, but the
trend of adoption is the same, 

941
00:57:00,920 --> 00:57:04,080
almost the same like in the past
10 years, we've been adding 50 

942
00:57:04,080 --> 00:57:07,560
million addresses every year. 
And as I say this, I guarantee 

943
00:57:07,560 --> 00:57:10,320
there is someone that's typing, 
hey, addresses don't mean number

944
00:57:10,320 --> 00:57:14,000
of people. 
One address can represent so 

945
00:57:14,000 --> 00:57:16,960
many people and so many people 
can represent one address, of 

946
00:57:16,960 --> 00:57:19,360
course. 
But still, this is a rough 

947
00:57:19,360 --> 00:57:22,000
proxy, right? 
You can also improve it by 

948
00:57:22,680 --> 00:57:25,600
limiting the size of address to 
a certain number of dollars. 

949
00:57:25,880 --> 00:57:29,920
But I've looked at all these 
things and the same, the same 

950
00:57:29,920 --> 00:57:32,480
idea comes out. 
You know, Bitcoin is growing 

951
00:57:32,760 --> 00:57:35,920
regardless. 
It's a network and it's 

952
00:57:35,920 --> 00:57:41,680
benefiting from the power of 
networks in in expanding and 

953
00:57:41,680 --> 00:57:45,240
getting stronger as they grow 
right So actually if you look at

954
00:57:45,240 --> 00:57:50,600
the bitcoins growth it's it's a 
power of three in time. 

955
00:57:51,000 --> 00:57:58,000
So as Bitcoin age increases, 
the, the size, the number of 

956
00:57:58,000 --> 00:58:03,200
addresses grow proportional to 
the a cube of age, something 

957
00:58:03,200 --> 00:58:07,400
like that. 
So it's, and it's been doing 

958
00:58:07,400 --> 00:58:09,760
that like forever. 
It's, it's funny because it 

959
00:58:09,760 --> 00:58:12,680
doesn't matter like what huge 
things are happening. 

960
00:58:13,160 --> 00:58:15,320
It doesn't matter if the price 
is down, doesn't matter if the 

961
00:58:15,320 --> 00:58:19,360
price is up. 
Network is growing and the world

962
00:58:19,360 --> 00:58:22,480
is smart enough to realize we 
have a great solution to a lot 

963
00:58:22,480 --> 00:58:24,720
of a lot of our problems. 
And if we just join this 

964
00:58:24,720 --> 00:58:27,880
network, it's going to be much 
better for us and much better 

965
00:58:27,880 --> 00:58:31,040
for people around us. 
So it's a selfish thing, but 

966
00:58:31,040 --> 00:58:36,120
also it's a, it's a revolution, 
a step towards improving the 

967
00:58:36,120 --> 00:58:40,920
world as well. 
And and you, we simply have to 

968
00:58:40,920 --> 00:58:45,920
kind of acknowledge what's going
on. 100% and it and it's 

969
00:58:45,920 --> 00:58:48,080
monumental. 
And I would say it's like I, I 

970
00:58:48,080 --> 00:58:51,360
wouldn't say it's selfish. 
I would say it's like Bitcoin's 

971
00:58:51,360 --> 00:58:53,200
an aligned incentive structure 
system. 

972
00:58:53,240 --> 00:58:57,120
So the miners acting out of 
their own self-interest, the 

973
00:58:57,120 --> 00:59:01,920
Hodlers, the node operators. 
And I think it's very difficult 

974
00:59:01,920 --> 00:59:04,800
for if you're coming from the 
Fiat world and it's like, what 

975
00:59:04,800 --> 00:59:05,960
do you mean? 
Everyone could win? 

976
00:59:05,960 --> 00:59:07,680
And you're like, yeah, 
basically. 

977
00:59:07,680 --> 00:59:10,280
Like it doesn't mean that 
everyone has the same purchasing

978
00:59:10,280 --> 00:59:13,480
power like Michael Saylor has. 
You could leverage his company 

979
00:59:13,480 --> 00:59:16,440
and he has billions of dollars, 
but you're still going to 

980
00:59:18,040 --> 00:59:20,360
benefit from that price 
appreciation just as much as 

981
00:59:20,360 --> 00:59:22,320
Michael Saylor. 
And Michael Saylor is going to 

982
00:59:22,320 --> 00:59:25,320
have to buy spot Bitcoin just 
like everyone else, right? 

983
00:59:25,480 --> 00:59:28,400
It's not a system of special 
privileges and it's a system 

984
00:59:28,440 --> 00:59:30,840
with aligned incentives. 
So anyways, I do want to 

985
00:59:30,840 --> 00:59:33,520
continue this conversation, but 
let's get to the culture real 

986
00:59:33,520 --> 00:59:35,800
quick and then we'll continue 
talking to see. 

987
00:59:35,800 --> 00:59:50,200
Now let's check it out. 
All right everybody, before we 

988
00:59:50,200 --> 00:59:53,000
continue to station with CNA to 
hand it off to Opti, I do want 

989
00:59:53,000 --> 00:59:56,080
to give a shout out to our 
sponsor, the Orange Pull app 

990
00:59:56,080 --> 01:00:00,920
Stack friends who stack SAT's 
join the 12,233 Bitcoiners that 

991
01:00:00,920 --> 01:00:04,360
are currently on the app. 
The Orange Pull app is your 

992
01:00:04,360 --> 01:00:07,120
number one resource for Bitcoin 
only events. 

993
01:00:07,320 --> 01:00:10,000
If you're travelling, you're 
going to a new city, perhaps you

994
01:00:10,000 --> 01:00:14,920
don't know anyone around you. 
The Orange Pull app is for you. 

995
01:00:15,280 --> 01:00:17,080
Why? 
Because you could pull it up and

996
01:00:17,080 --> 01:00:19,640
it will literally show you the 
bitcoiners that are around you 

997
01:00:19,640 --> 01:00:21,840
and you could send them Adm 
directly. 

998
01:00:21,960 --> 01:00:24,040
It's also one of the best ways 
to connect with me. 

999
01:00:24,040 --> 01:00:27,120
I don't really answer Twitter 
DMS these days or emails. 

1000
01:00:27,280 --> 01:00:29,480
So if you want to reach me, you 
want to ask me a question, 

1001
01:00:29,600 --> 01:00:33,120
download the orange pull up 
today, scan the QR code or check

1002
01:00:33,120 --> 01:00:34,880
the link in the video 
description. 

1003
01:00:35,160 --> 01:00:39,600
Anyways, Cena, you were on a you
know I love that I love it. 

1004
01:00:39,600 --> 01:00:43,000
You're on a legendary rant. 
I want to continue that. 

1005
01:00:43,000 --> 01:00:44,360
I'm going to hand it off to 
Opti. 

1006
01:00:44,360 --> 01:00:47,560
I'm sure Opti has some questions
prepared and I also do want to 

1007
01:00:47,920 --> 01:00:51,480
want to give you know where 
credit is due. 

1008
01:00:52,040 --> 01:00:54,200
Cena, your resume is quite 
impressive. 

1009
01:00:54,200 --> 01:00:59,200
PhD, you're a professor. 
I saw MIT in your bio as well. 

1010
01:00:59,360 --> 01:01:02,640
So this is a very intelligent 
individual who's who's in front 

1011
01:01:02,640 --> 01:01:07,120
of us today. 
And he's also the COO of 21st 

1012
01:01:07,120 --> 01:01:09,480
Capital. 
So anyways, I just wanted to say

1013
01:01:09,480 --> 01:01:10,640
that Opti it's all. 
Yours. 

1014
01:01:10,640 --> 01:01:14,200
Yeah, yeah, let's, let's 
continue this, this, this, this 

1015
01:01:14,200 --> 01:01:16,480
theme of adoption. 
And I did pull up a couple 

1016
01:01:16,480 --> 01:01:19,640
tweets of yours. 
And I really like this framing 

1017
01:01:19,640 --> 01:01:24,960
that you put out there, Seema. 
And it's this idea of the age of

1018
01:01:24,960 --> 01:01:27,560
Bitcoin is what matters and not 
the calendar year. 

1019
01:01:27,560 --> 01:01:29,600
So can you explain this? 
And I do have a tweet up here. 

1020
01:01:29,600 --> 01:01:33,280
So some visuals for the people. 
Yeah. 

1021
01:01:33,280 --> 01:01:38,560
So again, I want to go back to 
to the concept of a network, 

1022
01:01:38,560 --> 01:01:41,400
right. 
Bitcoin is a is a vehicle for 

1023
01:01:41,400 --> 01:01:48,040
storing value and transferring 
value, and it almost becomes a 

1024
01:01:48,040 --> 01:01:50,760
social phenomena because it's 
it's kind of a glue that 

1025
01:01:50,760 --> 01:01:53,640
connects human beings. 
And through that we create a 

1026
01:01:53,640 --> 01:01:57,320
network, right? 
And networks have this beautiful

1027
01:01:57,320 --> 01:02:01,440
property that they are a lot 
more valuable when a lot more 

1028
01:02:01,440 --> 01:02:03,360
people join, right? 
We've all heard about the 

1029
01:02:03,360 --> 01:02:09,880
network effects, Metcalf's law 
and the idea that very roughly 

1030
01:02:09,880 --> 01:02:14,600
speaking, you know, it varies, 
but it's also strikingly similar

1031
01:02:14,600 --> 01:02:18,240
across network that the value of
a network is a square of the 

1032
01:02:18,240 --> 01:02:21,680
size of it. 
Again, like I said, many ways to

1033
01:02:21,680 --> 01:02:25,520
define the size of a network. 
But if you just look at the 

1034
01:02:26,240 --> 01:02:30,040
number of addresses that we saw 
in the previous chart, it's 

1035
01:02:30,040 --> 01:02:36,840
funny enough that this number of
address number explains a lot of

1036
01:02:36,840 --> 01:02:39,960
the price growth. 
And when you run the numbers, 

1037
01:02:41,240 --> 01:02:46,200
price is price growth is a 
function of the square of the 

1038
01:02:46,200 --> 01:02:48,760
number of addresses. 
There's a multiplier there too, 

1039
01:02:48,760 --> 01:02:52,640
but it's, it's strikingly 
similar to what everything, 

1040
01:02:52,760 --> 01:02:55,040
every everything else we know 
from other networks. 

1041
01:02:55,040 --> 01:03:00,680
So it's kind of beautiful theory
that that explains Bitcoin gets 

1042
01:03:00,680 --> 01:03:07,040
more and more valuable as their 
network grows And, and there is 

1043
01:03:07,040 --> 01:03:11,960
a lot of volatility and all I 
see there is the fundamental 

1044
01:03:11,960 --> 01:03:15,280
growth that's happening. 
And that growth is attracting a 

1045
01:03:15,280 --> 01:03:19,200
lot of crazy money to, you know,
100 X leverage guys that want to

1046
01:03:19,200 --> 01:03:23,400
get a Lambo next week. 
And Bitcoin is very fair. 

1047
01:03:23,720 --> 01:03:26,120
I always say Bitcoin punishes 
tourists. 

1048
01:03:26,400 --> 01:03:30,360
And if you're there to just make
a quick buck, Bitcoin is going 

1049
01:03:30,360 --> 01:03:34,200
to have you, you know, leave you
disappointed and you're going to

1050
01:03:34,200 --> 01:03:37,640
lose your coins. 
And the people who are in it for

1051
01:03:37,640 --> 01:03:40,120
the long run and they've done 
the homework, they've spent 

1052
01:03:40,120 --> 01:03:43,640
hours and hours understanding 
this thing, they will be the 

1053
01:03:43,640 --> 01:03:47,280
more successful 1 so that 
there's just poetic justice and 

1054
01:03:47,280 --> 01:03:52,880
all those bull and bear markets.
But if you take a slightly more 

1055
01:03:52,880 --> 01:03:58,280
quantitative approach to 
understanding the growth, you 

1056
01:03:58,280 --> 01:04:02,360
see that again, following the 
what you expect from network 

1057
01:04:02,360 --> 01:04:09,240
behavior, Bitcoin's value is 
very, very much proportional to 

1058
01:04:09,240 --> 01:04:11,360
its age and age. 
Again, why is it? 

1059
01:04:11,480 --> 01:04:15,040
Why does age matter? 
Because age links to adoption. 

1060
01:04:15,880 --> 01:04:21,240
And so a value value of one year
was a lot more important when 

1061
01:04:21,240 --> 01:04:23,800
Bitcoin was one year old. 
So another year would be 

1062
01:04:23,800 --> 01:04:27,600
doubling the age, but now 
another year will be just taking

1063
01:04:27,600 --> 01:04:30,000
us from 15 to 16 years old, 
right? 

1064
01:04:30,000 --> 01:04:33,040
So it's getting kind of less and
less significant. 

1065
01:04:33,600 --> 01:04:38,440
But if you think in terms of 
age, the value, the price of 

1066
01:04:38,440 --> 01:04:45,240
Bitcoin is kind of behaving very
in a very regular manner as a 

1067
01:04:45,240 --> 01:04:47,800
function of the age. 
So if the age, for example, in 

1068
01:04:47,800 --> 01:04:52,000
that chart I was showing every 
time the age of Bitcoin has 

1069
01:04:52,000 --> 01:04:57,200
increased by 40%, the price has 
6X. 

1070
01:04:58,360 --> 01:05:01,960
And you know, there is, it's 
just striking because, you know,

1071
01:05:01,960 --> 01:05:05,360
I analyze a lot of financial 
data and there's just, you can't

1072
01:05:05,360 --> 01:05:08,400
find these regularities in 
anything else. 

1073
01:05:08,680 --> 01:05:12,680
You know, and I'm not saying 
this is exactly going to repeat 

1074
01:05:12,680 --> 01:05:14,720
in the future. 
There's a lot of caveats you 

1075
01:05:14,720 --> 01:05:18,320
have to say before, you know, 
you, you, you make a claim like 

1076
01:05:18,320 --> 01:05:23,240
that, but it has done this for 
the past 15 years and it makes 

1077
01:05:23,560 --> 01:05:29,440
total sense as it grows. 40% 
increase in age is as valuable 

1078
01:05:29,440 --> 01:05:34,600
now as as it was previously, so 
that's why you get the same 

1079
01:05:34,800 --> 01:05:37,360
multiplier of growth as time 
goes by. 

1080
01:05:38,360 --> 01:05:44,200
So you, I, I, I noticed the, 
the, there was a a slight price 

1081
01:05:44,200 --> 01:05:48,360
prediction there. 
I do want to bring that up. 

1082
01:05:49,320 --> 01:05:55,080
So Bitcoin grows 6X with every 
40% growth in it's age. 

1083
01:05:56,200 --> 01:05:59,280
It is now 15 years old. 
The next 40% growth will be in 

1084
01:05:59,480 --> 01:06:05,400
20-30 and that's a 360 K 
Bitcoin. 

1085
01:06:05,720 --> 01:06:08,120
A lot of people would say that 
is quite bearish. 

1086
01:06:08,120 --> 01:06:12,280
Yeah, so I was just going to 
say, I guarantee someone right 

1087
01:06:12,280 --> 01:06:14,320
now is saying this is this is 
very bearish. 

1088
01:06:14,760 --> 01:06:20,240
But but the idea is, you know, 
if this pattern continues, 

1089
01:06:20,240 --> 01:06:21,560
that's what we get. 
That's the math. 

1090
01:06:21,560 --> 01:06:23,200
And there's nothing that we can 
do about it, right? 

1091
01:06:23,200 --> 01:06:25,680
We definitely want a lot more 
and a lot better, of course. 

1092
01:06:25,680 --> 01:06:30,520
But and and like I said, there 
is tons of volatility, right? 

1093
01:06:30,520 --> 01:06:35,280
This is just talking about 
continuation of an average 

1094
01:06:35,280 --> 01:06:38,120
pattern. 
And but if you add the cycles to

1095
01:06:38,120 --> 01:06:42,560
it always, you know, if you look
at all these bubbles that 

1096
01:06:42,560 --> 01:06:46,800
created, they just take the 
price significantly higher than 

1097
01:06:46,880 --> 01:06:49,040
a relationship like this would 
suggest, right? 

1098
01:06:49,040 --> 01:06:51,200
But it's not going to last for a
long time, right? 

1099
01:06:51,200 --> 01:06:55,040
So you probably see super, super
high numbers, but there will be 

1100
01:06:55,040 --> 01:06:58,920
lots of volatility. 
And but I'd like to just because

1101
01:06:58,920 --> 01:07:01,000
I don't care much about the ups 
and downs. 

1102
01:07:01,000 --> 01:07:04,040
I like to think in terms of 
fundamentals, in terms of growth

1103
01:07:04,040 --> 01:07:06,160
and adoption. 
So what really matters to me is 

1104
01:07:06,160 --> 01:07:11,000
that red dashed line just 
keeping keep doing what it's 

1105
01:07:11,000 --> 01:07:13,520
been doing. 
Like if that grows, if the 

1106
01:07:13,520 --> 01:07:17,240
average grows, I don't care if 
the price goes a lot higher or a

1107
01:07:17,240 --> 01:07:20,280
lot lower, as long as it just 
reverts back to the mean. 

1108
01:07:21,600 --> 01:07:25,480
But yeah, that's the same 
relationship which suggests that

1109
01:07:25,680 --> 01:07:30,880
another 40% which is 21 years 
old, 20-30 there, the average 

1110
01:07:30,880 --> 01:07:36,440
will be this, but you probably 
have much higher top and perhaps

1111
01:07:36,440 --> 01:07:38,880
a little bit lower for the 
bottom of the bear market that 

1112
01:07:38,880 --> 01:07:42,080
happens then. 
Yeah, I, I think this is a low 

1113
01:07:42,080 --> 01:07:46,520
key kind of bullish because of 
what I heard is basically 2030 

1114
01:07:46,520 --> 01:07:51,360
bear market is going to be 360 K
like I, I, I, I think we could 

1115
01:07:51,360 --> 01:07:53,000
live with that. 
You know, we know it's going. 

1116
01:07:53,040 --> 01:07:54,840
To go. 
Higher, but it's going to go 

1117
01:07:54,840 --> 01:07:57,840
down to 360 K like I, I could 
get behind this. 

1118
01:07:57,840 --> 01:08:00,600
I, I think we still have cycle 
theory playing out for the next 

1119
01:08:00,600 --> 01:08:03,240
couple of years. 
So I, I think there's some some 

1120
01:08:03,240 --> 01:08:05,520
logic to this, but go Nico. 
I cut you off. 

1121
01:08:05,520 --> 01:08:06,960
Sorry. 
There is some other topics here 

1122
01:08:06,960 --> 01:08:09,720
but Nico flush this out. 
Yeah, so, and let's talk about 

1123
01:08:09,720 --> 01:08:12,200
next year. 
So a lot of people are, you 

1124
01:08:12,200 --> 01:08:14,120
know, Bitcoins chopping 
sideways. 

1125
01:08:14,120 --> 01:08:17,960
You know, a lot of people are 
getting unmotivated. 

1126
01:08:18,200 --> 01:08:21,439
And one of the one of the 
theories that we're hearing this

1127
01:08:21,439 --> 01:08:24,720
cycle is this whole idea of 
diminishing returns. 

1128
01:08:24,720 --> 01:08:29,080
So people are saying, oh, you 
know, 2025, yeah, we might peak,

1129
01:08:29,080 --> 01:08:33,920
but we'll peak at 100K Bitcoin, 
120 K Bitcoin, you know, 200K 

1130
01:08:33,920 --> 01:08:35,439
Bitcoin. 
And I think a lot of people 

1131
01:08:35,880 --> 01:08:40,319
potentially, you know, feel a 
little bit underwhelmed on on 

1132
01:08:40,319 --> 01:08:42,920
those price levels. 
What would be your response to 

1133
01:08:42,920 --> 01:08:48,000
them? 
Listen, all I see is not not too

1134
01:08:48,000 --> 01:08:52,120
long ago we were at 16 K and 
everybody was just crying and 

1135
01:08:52,120 --> 01:08:56,680
there was blood in the street. 
In a super short amount of time,

1136
01:08:57,279 --> 01:09:00,479
we've gone up. 
What is it like for 57 today? 

1137
01:09:01,399 --> 01:09:05,240
I think that I think that's 
quite amazing if you just 

1138
01:09:05,240 --> 01:09:08,840
learned about Bitcoin when it 
was like at 75 and after all, 

1139
01:09:08,920 --> 01:09:16,279
the effect of initial effect of 
ETFs was priced in and a ton of 

1140
01:09:16,279 --> 01:09:19,520
excitement was created that 
that's a little bit, you know, 

1141
01:09:19,520 --> 01:09:21,319
that's not a great time to 
enter. 

1142
01:09:21,640 --> 01:09:26,000
And it's totally understandable 
for people to to, you know, to 

1143
01:09:26,000 --> 01:09:29,160
get disappointed when the price 
is low and it's also choppy. 

1144
01:09:29,200 --> 01:09:32,359
It's chopping is like one of the
hardest things for people to 

1145
01:09:33,040 --> 01:09:35,920
they wrap their minds around 
because it goes up and makes you

1146
01:09:35,920 --> 01:09:39,920
optimistic and then crashes. 
And then when it crashes, you 

1147
01:09:39,920 --> 01:09:42,520
probably get bearish and then 
next week it goes up. 

1148
01:09:42,520 --> 01:09:45,520
So it, it kind of makes you 
think, OK, I was wrong. 

1149
01:09:45,560 --> 01:09:48,680
A bull market is, you know, 
resuming, but now next week 

1150
01:09:48,680 --> 01:09:50,840
again, it crashes. 
So it plays with people's 

1151
01:09:50,840 --> 01:09:58,800
psychology and I, you know, in 
a, in a perverse way, I, it's 

1152
01:09:58,800 --> 01:10:03,920
kind of funny to watch this, how
price action messes up people's 

1153
01:10:03,920 --> 01:10:07,480
brain. 
And if you, but if you look at 

1154
01:10:07,480 --> 01:10:10,800
history, this is nothing new. 
Like we've had this pattern 

1155
01:10:10,880 --> 01:10:16,200
every time because Bitcoin is a 
kind of behaves like a spring 

1156
01:10:16,560 --> 01:10:22,880
and when it's coiled and 
compressed, it explodes at once 

1157
01:10:23,320 --> 01:10:27,560
and then it, it spends a lot of 
time just getting compressed 

1158
01:10:27,560 --> 01:10:30,440
again. 
So compression is very slow and 

1159
01:10:30,440 --> 01:10:34,000
explosion is very fast. 
And and that's actually also not

1160
01:10:34,000 --> 01:10:37,800
a new concept to Bitcoin. 
Many financial assets do work 

1161
01:10:37,800 --> 01:10:39,880
like this. 
If, if you run the numbers on 

1162
01:10:39,880 --> 01:10:43,600
S&P 500, you'll probably find 
that most of the gains come in 

1163
01:10:43,600 --> 01:10:47,520
like 3-4 days in a year and the 
rest of the year is just boring 

1164
01:10:48,160 --> 01:10:51,160
price action. 
That's that's why, by the way, 

1165
01:10:51,160 --> 01:10:54,040
that's why huddling is very 
important and staying invested, 

1166
01:10:54,240 --> 01:10:57,120
not trying to time the market. 
You probably can time like 

1167
01:10:57,160 --> 01:10:59,680
little moves here and there, but
you're going to miss the biggest

1168
01:10:59,680 --> 01:11:03,000
move, right? 
So this is exactly what we want.

1169
01:11:03,000 --> 01:11:10,600
I mean, after the move from 16 
to 75 and right now 57, we want 

1170
01:11:10,600 --> 01:11:13,560
to spend some time. 
I mean the market has to absorb 

1171
01:11:13,680 --> 01:11:17,600
how has to kind of absorb enough
capital to make these price 

1172
01:11:17,600 --> 01:11:21,760
levels sustainable and that's 
going to form a new bottom for 

1173
01:11:21,760 --> 01:11:23,320
us. 
And kind of like you were 

1174
01:11:23,320 --> 01:11:27,960
saying, the, you know, thinking 
about the bottom improving is 

1175
01:11:27,960 --> 01:11:30,080
very important. 
The bottom is going up, but then

1176
01:11:30,080 --> 01:11:33,240
you have a lot of volatility 
that obfuscates it. 

1177
01:11:34,680 --> 01:11:39,160
And all I see here is that we're
just accumulating more and more 

1178
01:11:39,280 --> 01:11:43,560
economic energy in the in the 
system to to form a great basis 

1179
01:11:43,560 --> 01:11:45,360
and great foundation for the 
next leg up. 

1180
01:11:46,240 --> 01:11:48,360
Absolutely. 
I'm 100% agree with that. 

1181
01:11:48,360 --> 01:11:50,680
So we are getting close to the 
top of the hour. 

1182
01:11:50,680 --> 01:11:53,080
I I. 
I you want one last question. 

1183
01:11:53,080 --> 01:11:55,360
And I think this is a good way 
to end the show because it does 

1184
01:11:55,360 --> 01:11:57,800
tie into the whole theme of 
today's show. 

1185
01:11:58,640 --> 01:12:02,720
We've seen a we've mentioned 
that you are a professor and I 

1186
01:12:02,720 --> 01:12:05,760
have this great tweet here. 
And I think it's going to kind 

1187
01:12:05,760 --> 01:12:09,480
of like really hammer home this 
idea of proper economic 

1188
01:12:09,480 --> 01:12:11,920
education. 
So just reading this first part,

1189
01:12:11,920 --> 01:12:14,680
you said, I began a class 
showing that business 

1190
01:12:14,680 --> 01:12:19,240
transactions are not extractive 
win loss and are value adding 

1191
01:12:19,240 --> 01:12:21,520
win win activities. 
And a student came up to you and

1192
01:12:21,520 --> 01:12:23,320
said you basically blew her 
mind. 

1193
01:12:23,600 --> 01:12:28,040
And this is just emphasizing the
importance of proper economic 

1194
01:12:28,040 --> 01:12:31,040
education. 
So just tying up today's show 

1195
01:12:31,040 --> 01:12:34,680
with the theme of it's so easy 
to gaslight everyone because 

1196
01:12:34,680 --> 01:12:37,560
they don't understand economics.
They're they're economically 

1197
01:12:37,560 --> 01:12:40,280
illiterate. 
Can you just end the show on why

1198
01:12:40,280 --> 01:12:43,440
you think it's so important for 
proper economic education? 

1199
01:12:43,440 --> 01:12:46,320
And then maybe even touch a 
little bit on what exactly is 

1200
01:12:46,320 --> 01:12:50,880
that proper economic education. 
Yeah, listen, you know, the only

1201
01:12:50,880 --> 01:12:55,240
reason, as you you guys also 
very well mentioned in the 

1202
01:12:55,240 --> 01:12:58,720
beginning, the only reason these
politicians can't trick us is 

1203
01:12:58,720 --> 01:13:01,480
because we are not thinking 
enough about, you know, the 

1204
01:13:01,480 --> 01:13:04,200
economic side of things. 
And a lot of people are not 

1205
01:13:04,200 --> 01:13:07,120
educated properly. 
The reason they get excited that

1206
01:13:07,400 --> 01:13:11,240
they get a handout for buying 
certain things. 

1207
01:13:11,240 --> 01:13:15,400
They get support from the 
government for down payment on a

1208
01:13:15,400 --> 01:13:16,760
house. 
The reason you get excited about

1209
01:13:16,760 --> 01:13:19,160
these things because you don't 
know where that money is coming 

1210
01:13:19,160 --> 01:13:20,920
from. 
What are the implications of it?

1211
01:13:21,720 --> 01:13:25,200
The reason we get fooled by 
Elizabeth Warren saying that 

1212
01:13:25,920 --> 01:13:29,480
businesses are price gouging and
taking advantage of people is 

1213
01:13:29,480 --> 01:13:33,080
because we don't understand 
economics properly and and 

1214
01:13:34,000 --> 01:13:38,080
Marxist socialist ideologies are
are kind of doing a lot of 

1215
01:13:38,080 --> 01:13:41,120
damage here. 
They're convincing people, 

1216
01:13:41,120 --> 01:13:45,640
especially poor people that are,
you know, truly hurting to think

1217
01:13:45,640 --> 01:13:49,320
that the reason that they're 
suffering is that the other 

1218
01:13:49,320 --> 01:13:52,600
side, which is the business, is 
unnecessarily raising the 

1219
01:13:52,600 --> 01:13:55,080
prices. 
Why can't you just sell the same

1220
01:13:55,080 --> 01:13:58,760
thing to me at a cheaper price? 
And they're perpetuating this 

1221
01:13:58,760 --> 01:14:02,520
cycle of, you know, people 
wanting to steal from the 

1222
01:14:02,520 --> 01:14:06,400
wealthy. 
And if you really think about 

1223
01:14:06,400 --> 01:14:09,280
it, that the price occurs for a 
reason. 

1224
01:14:09,320 --> 01:14:13,840
If something is expensive, my 
question is why isn't another 

1225
01:14:13,840 --> 01:14:16,960
producer joining the market to 
to produce it as a cheaper 

1226
01:14:16,960 --> 01:14:18,400
price? 
Because if you're, if you're 

1227
01:14:18,400 --> 01:14:21,840
just gouging the price and it 
should be a lot lower, there is 

1228
01:14:21,880 --> 01:14:24,200
money to be made. 
There is another actor that can 

1229
01:14:24,200 --> 01:14:26,760
join the economy and produce the
same thing at a much lower 

1230
01:14:26,760 --> 01:14:28,040
price. 
Everyone will be happy. 

1231
01:14:28,040 --> 01:14:31,360
The reason it's not happening is
either because there's no price 

1232
01:14:31,360 --> 01:14:36,320
gouging or some crazy lost some 
crazy rule is preventing another

1233
01:14:36,320 --> 01:14:38,440
entrepreneur doing the right 
thing. 

1234
01:14:38,840 --> 01:14:41,080
In both cases, we don't need 
government. 

1235
01:14:41,080 --> 01:14:44,880
We don't need politicians to put
put it, use a hammer and put 

1236
01:14:44,880 --> 01:14:48,200
pressure on prices to go down. 
And you don't understand all 

1237
01:14:48,200 --> 01:14:51,880
these things when you have this 
framework of extraction. 

1238
01:14:51,880 --> 01:14:55,120
So when I buy something, the 
seller is stealing my money. 

1239
01:14:56,040 --> 01:14:58,560
Now I lost money, they gain 
money. 

1240
01:14:58,600 --> 01:15:04,280
That thinking is the philosophy 
behind socialism, right? 

1241
01:15:04,280 --> 01:15:07,640
So if that's the case, you 
always want them to give 

1242
01:15:07,680 --> 01:15:10,760
everything for free to you. 
But in the other way to look at 

1243
01:15:10,760 --> 01:15:14,680
it is if you paid $100 for 
something, well, you are not 

1244
01:15:14,680 --> 01:15:16,960
crazy. 
You, you did it voluntarily. 

1245
01:15:17,520 --> 01:15:22,160
And that only means you got more
value, more than $100 out of 

1246
01:15:22,160 --> 01:15:26,840
that transaction. 
So if you analyze it this way, 

1247
01:15:27,640 --> 01:15:30,840
any economic transaction, if it 
is voluntary, if now, but nobody

1248
01:15:30,840 --> 01:15:33,600
is forcing you to do it, is, is 
a win win. 

1249
01:15:33,760 --> 01:15:36,840
So you need more transactions. 
And if somebody's getting rich 

1250
01:15:36,840 --> 01:15:39,720
in that kind of free market, 
it's great. 

1251
01:15:39,720 --> 01:15:42,080
It's the most ethical thing they
could do. 

1252
01:15:42,080 --> 01:15:46,160
Getting rich means you produced 
a ton of value for other human 

1253
01:15:46,160 --> 01:15:48,000
beings. 
That's respectable. 

1254
01:15:48,400 --> 01:15:51,560
That means you were just much 
more helpful to everybody else. 

1255
01:15:51,920 --> 01:15:55,080
And that's a complete opposite 
way of, you know, socialist 

1256
01:15:55,800 --> 01:15:59,600
think and they're training our 
kids to think incorrectly like 

1257
01:15:59,600 --> 01:16:03,640
that. 100% Well, This is why, 
you know, education, Bitcoin 

1258
01:16:03,640 --> 01:16:06,880
education is so important. 
The separation of money and 

1259
01:16:06,880 --> 01:16:09,760
state is so important. 
I don't think socialism can 

1260
01:16:09,760 --> 01:16:11,520
exist. 
I mean, it's in the it's the 5th

1261
01:16:11,520 --> 01:16:13,800
tenet of the Communist 
manifesto, the necessity for a 

1262
01:16:13,800 --> 01:16:17,120
central bank, right? 
So I think Bitcoin, you know, 

1263
01:16:17,120 --> 01:16:20,640
fixes these things for sure. 
And it also, you know, just 

1264
01:16:20,640 --> 01:16:24,320
holding Bitcoin, I think it, I 
think it fixes you, you know, 

1265
01:16:24,360 --> 01:16:27,040
it, it definitely makes you feel
empowered. 

1266
01:16:27,640 --> 01:16:30,760
It gives you a true appreciation
of the value of money. 

1267
01:16:31,000 --> 01:16:34,000
And you know what, you know 
what, what money could, what 

1268
01:16:34,000 --> 01:16:36,360
actually what actual sound money
could do for you. 

1269
01:16:36,600 --> 01:16:39,120
So anyways, we're getting to the
top of the hour. 

1270
01:16:39,120 --> 01:16:44,520
I do want to thank our guests 
today, Cena from 21st capital. 

1271
01:16:44,520 --> 01:16:49,160
Cena, what is 20 First Capital? 
Where could people find it? 

1272
01:16:49,320 --> 01:16:51,080
What is it about? 
Who's it for? 

1273
01:16:52,040 --> 01:16:58,080
So to be brief in at 21st 
Capital we solve every question 

1274
01:16:58,080 --> 01:17:00,960
you might have about Bitcoin. 
So we are an advising company. 

1275
01:17:01,520 --> 01:17:06,560
A lot of our work is around hand
holding people to teach them how

1276
01:17:06,560 --> 01:17:10,760
to how to custody their coins. 
If you have a question about 

1277
01:17:10,760 --> 01:17:13,520
hardware wallet, if you have a 
problem with your wallets, if 

1278
01:17:13,520 --> 01:17:16,400
you have a problem with locating
your funds, if you have a 

1279
01:17:16,400 --> 01:17:22,400
problem with any aspect of 
purchasing, storing and gaining 

1280
01:17:22,400 --> 01:17:25,720
sovereignty over your money, we 
can help. 

1281
01:17:26,240 --> 01:17:30,520
We also help people with legacy 
planning. 

1282
01:17:30,520 --> 01:17:34,840
We also create custom courses. 
Actually, a a few weeks back, we

1283
01:17:34,840 --> 01:17:40,280
just finished a, a course that 
was designed specifically for a 

1284
01:17:40,280 --> 01:17:46,640
family. 
And a highlight of it was after 

1285
01:17:46,640 --> 01:17:51,040
we finished the course that, 
which was like in the 50s, he 

1286
01:17:51,040 --> 01:17:56,280
reached the conclusion that the 
existing system is a scam, just 

1287
01:17:56,280 --> 01:18:02,960
like, just like Nico was saying.
And so we do education as well. 

1288
01:18:03,160 --> 01:18:05,840
And then we also have begun 
putting more and more 

1289
01:18:05,840 --> 01:18:10,720
quantitative analysis around it.
So if you have any any kind of 

1290
01:18:10,960 --> 01:18:12,680
those questions, reach out to 
us. 

1291
01:18:13,040 --> 01:18:15,560
We'd be happy to chat. 
Absolutely. 

1292
01:18:15,560 --> 01:18:18,360
I'm going to put it in the chat 
for you guys as well and in the 

1293
01:18:18,360 --> 01:18:21,680
video description. 
And I do want to thank our 

1294
01:18:21,680 --> 01:18:25,400
guests for joining us today and 
giving us these awesome 

1295
01:18:25,400 --> 01:18:27,680
insights. 
So appreciate you, Cena. 

1296
01:18:27,680 --> 01:18:29,480
Thank you so much for coming on 
again. 

1297
01:18:29,720 --> 01:18:34,400
He's the COO of 21st Capital. 
Go to 20firstcapital.com today. 

1298
01:18:34,640 --> 01:18:37,240
And of course, my legendary Cos,
Optimus Fields. 

1299
01:18:37,560 --> 01:18:40,240
This was your episode for 
September 11th. 

1300
01:18:42,160 --> 01:18:45,920
I just, I just realized the date
and that's pretty sad. 

1301
01:18:46,600 --> 01:18:52,680
Yeah, yeah. 
September 11th, 2024 and, and 

1302
01:18:53,040 --> 01:18:54,880
we're Simply Bitcoin Live. 
We love you all. 

1303
01:18:54,880 --> 01:18:58,280
We appreciate everybody and 
thank you guys so much for 

1304
01:18:58,280 --> 01:19:01,000
tuning in. 
And we'll see you on tomorrow, 

1305
01:19:01,000 --> 01:19:03,120
tomorrow's episode of Simply 
Bitcoin Live. 

1306
01:19:03,120 --> 01:19:08,280
Peace out, everybody. 
You buy bitcoinwell.com, a 

1307
01:19:08,280 --> 01:19:11,400
Bitcoin only platform, on a 
mission to enable financial 

1308
01:19:11,400 --> 01:19:12,240
independence.