It's all. Going to zero against Bitcoin.
It's going on. Forever you're.
Against Bitcoin, you're against freedom.
Yeah, welcome to simply Bitcoin live, your number one source for
the peaceful Bitcoin revolution. Car breaking news culture,
dramatic warfare will be your guide through the separation of
money in state. Ladies and gentlemen, Opti is
with me in the flesh here in Miami and we are getting ready
for the mining disrupt conference, which we're going to
be officially live streaming from the simply Bitcoin channel.
So we are going to be taking a couple days off like if we can
do the show on the floor while the conference is happening,
we'll be doing the show Tuesday and Wednesday.
I don't know. I still we have to go to the
venue, have to check things out, but we might be missing Tuesday
and Tuesday and Wednesday, but you can still TuneIn to simply
pick the simply Bitcoin channel and we'll be giving you like hot
fire signal from the industry greats of the Bitcoin mining
industry. And of course, Opti and I will
be offering commentary in between the breaks and hopefully
getting some of those CEOs and industry leaders and just ask
him questions about, you know, Bitcoin mining and all that
stuff. So really excited for it.
And then we'll be back with the regular Thursday episode on on
Thursday. We'll be back with simply
Bitcoin Live on Thursday. So anyways, couple things that I
wanted to cover today. First off is apparently, you
know, a lot of people are are saying that it's the Mount G Ox
thing that has dumped the price. We did have a pretty big
correction. I think we were like at like
6665 K dumped all the way down to 60 K.
We're definitely going back down to 10K.
But no, in all seriousness, it's like your emotions always, you
know, like always get the best of you.
But historically in these times, like from being in the market
for eight years now, these are actually like the best times to
buy when you know, you, you kind of fear and you're like, oh,
what's going on? And you know, you get those like
voices in the back of your head saying like, holy shit, is this
going to dump lower? Those are the best times to just
go a Ben and stack those sats. And also a pretty great
interview with this up and coming Bitcoin podcaster.
He was able to get an interview with Michael Saylor at BTC
Prague. And Michael Saylor and I, and I
know we've been like, like again, like I can't emphasize
this enough. Simply Bitcoin doesn't make any
types of predictions and we don't like to speculate on the
price whatsoever. But when notable figures do talk
about the price, it seems like you guys like that type of
content. So we do like to highlight it.
And we got this latest clip of Sailor basically being ultra
mega bullish and throwing out the $10 million number, $10
million number is very notable because that's the number that
how Finney back in the early days of Bitcoin, you know, when
Bitcoin was like, I think less than $100, I just threw this
crazy number out there. And so far it's seems like
Bitcoin is on track, You know, and like, I think the question
is not if. I think the question is when?
Also during the culture segment, we got a special guest.
We got the most wicked in Bitcoin.
We got wicked in the house. How you doing wicked?
Hey guys, I'm doing good. Thanks for having me on.
Thanks for joining us, brother Opti, how you doing, bro?
We're, we're very, very close and tight.
It's very, you know, it's, it's very.
Very intimate it's. Very intimate and the the, the
Nico's Miami studio. But anyways, it's going to be
great. Lots of work to do that.
Opti, I still have left setting up for this mining Disrupt
conference, but we're looking forward to it.
It's going to be absolutely epic and you guys should definitely
TuneIn tomorrow and Wednesday and we'll bring you guys the hot
fire. So guys, we got a loaded show.
So much to unpack. But before we jump into it,
Opti, we're going to talk to Wicked about during the Culture
segment. Yeah, so I got a few of Wicked's
tweets up here. We're going to pull them up.
But we really, we were actually going to talk about this before
this show did. Just getting Wicked thoughts on
the diminishing returns meme. But we thought maybe we should
just have this conversation live on air.
And then of course, I know Wicked's super, super big on the
idea of DCA ING, so we're going to hit on some DCA memes.
And then also maybe, maybe a controversial take here, but
Wicked is also going to dive deep on being a bits maxi.
So I know they're going to throw tomatoes at us, Wicked.
But I think these are all good conversations to have on today's
show. So I'm super excited for this
and man it again. Let me know if there's some
charts you want to pull up. I do have some back here in
regards to what you're looking at, what you're watching.
But yeah, we're going to talk diminishing returns, some DCA
action and then some bits, bits Maxi memes over here, which I
know that Chad is going to lose their mind because they're all
Sats Maxi's. So I love triggering the chat
when we can Wicked. So there's going to be a great
show. I can't wait.
And for anyone who doesn't follow Wicked on Bitcoin
Twitter, you definitely should. He drops some a wicked hot fire.
You can go follow him at W under score S under score Bitcoin and
you know, drop some some very good signal.
Anyways, guys, before we jump into today's show starting off
the Monday strong, I do want to give a shout out to our lead
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So we're going to do that today, and we're going to toss a coin
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Whoever wins this game becomes the winner.
And you can predict and you can win up to six twin costs if you
correctly predict. Obviously, I'm a little biased.
I'm going to predict Florida and good luck to you and your team.
So go to the hockey pole, make those predictions.
But anyways, guys, let's move on to the numbers.
Lots to talk about today. Let's check it out.
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The Bitcoin price is 60,960 thousand 890 dollars.
Opti and I are going to go back to ramen SAT's per dollar 1643
block height 849,000 two 324 blocks to having 200,676 the The
headings priced in having estimate March 25th 2028 Total
lightning network capacity 4869 Bitcoin capacity value 296
million U.S. dollars realized monetary inflation 1.57% the
market capitalization of Bitcoin 1.2 trillion U.S. dollars with
AT Bitcoin versus gold market cap 7.53%.
In the grand scheme of things, we're just getting started.
I think during these times of uncertainty, during these times
of volatility, it's probably a good idea to look back into the
past because if you don't learn from the past, you're destined
to repeat it. Here is Max Kaiser absolute
legend, October 30th, 2013, when BTC was $0.20, nobody believed
it could trade to 200 at 200. Nobody believes it can get to
20,000. A few will, however, and five
years from that prediction, Bitcoin did indeed hit 20,000,
and this was back in 2013. So I think it's important.
I think as human beings, we're just like, you know, we still
have those eight brains, We still have those chip brains,
right? And you know, it's important
that during this volatility, look, I'll tell you what.
I'll tell you what, guys huddling, if you just break it
down, you're like, that is so freaking easy.
But actually doing it, it like takes your soul.
It's very hard. It's hard to say that, but it is
absolutely true. Here's the legendary prediction
of how Finney back 2000, literally 2009, and he's just
kind of doing this thought experiment.
He says an amusing thought experiment.
Imagine that Bitcoin is successful and becomes a
dominant payment system and used throughout the world.
Then the total value of the currency should be equal to the
total value of all the wealth in the world.
Current estimates of total worldwide household wealth that
I have found range from 100 trillion to 300 trillion.
With 20 million coins, that gives each coin a value of about
$10 million. Now, this was back in the day.
Here is Michael Saylor and one of his latest interviews with
the podcaster Robin Sire. By the way, huge fan.
I think he did an excellent job in this podcast.
Great job. So shout out to him and give him
a follow. He's up and coming.
And let's check out Michael Saylor talking about $10 million
Bitcoin. And if you just want Bitcoin to
be successful, when you hear the Bank of Shanghai is rolling out
a Bitcoin ETF custody to the Bank of Shanghai, you would say
that's great, that's going to give access to.
Bitcoin to 1.5 billion people in China OK and they're going to
buy a bunch of Bitcoin. The price of Bitcoin is going to
go up to $10 million coin. So here's the question.
Do you want the billion people in China to be rich?
And do you want to be rich while the Chinese government still has
a bunch of laws that you may or may not agree with?
Or do you want the people in China to be poor and you to be
poor while the Chinese government has a set of laws
that you don't agree with? Pretty.
Easy. Or do you think that you're so
great, you're Superman, that you can just go and topple the
entire government by barking on Twitter?
It's like I, you know, I just don't think right that that
you're going to topple, you know, an entire sovereign nation
with your ideology. So.
I mean, so like, is he just saying that to be hyperbolic?
Like, do you believe in that? I mean, it kind of makes sense.
China has a very, you know, populous nation.
I'm going to pass it on to you. Wicked, wicked you, you know,
you focus a lot, a lot of your time and energy putting together
these awesome kind of like infographics that are so well
made. So I mean, do you think that's
just rhetoric from Michael Saylor?
I mean, he, he does have a history of back in the day, I
think there was a very famous video of him in 2011 predicting
that Apple stock was just going to go through the effing moon
and it totally did. He hit the nail on the head with
that prediction like 100%. So you know, it is this
something that we're going to see in our lifetimes?
Like do you see like, and again, it's impossible to see and it
this, it just like the, the Max Keiser tweet, like back then,
$200.00 Bitcoin, $20,000 Bitcoin probably seemed unfeasible.
What's your take on that wicked? Yeah, I mean, I think so
there's, there's a couple of things.
First of all, you have to consider, you know, is this an,
an inflation adjusted number, right?
Because with inflation, everything is going to reach $10
million eventually, right? The dollar is going to fail and
then everything will be infinite number of dollars.
So if this is like $10 million in today's dollars, then, you
know, I think that that could be possible eventually if Bitcoin
kind of like Hal said, you know, represents basically the value
of everything or, or near the value of everything.
It's actually higher now, right? The value of everything is like
closer to a quadrillion at this point because of inflation.
So now we're talking like, you know, I think like 50 million
per Bitcoin would, would, would, would account for all of that
value. So 10 million just kind of, you
know, it's on the way up there to getting to the, you know,
the, the, the value of everything.
If that is to happen with Bitcoin, because Bitcoin's the
best money in the world, you know, it's hard to believe that
it won't eventually eat the value of everything.
So I wouldn't be surprised. Maybe not in our lifetimes, but
maybe in our kids. It might get there.
We'll see. You're a bearish apple.
Anyway, it's. Opti, I'm a bear.
I just said 50 million. Exactly, Opti, what's your take
on this brother? Well I usually reference the how
Finney quote as well and I I always have to highlight the
date and I actually got the date today which was January 10th,
2009. So like literally when what, 2
weeks? After the one week.
One week after Genesis. Exactly one week after the
genesis block, how Finney was already saying $10 million per
Bitcoin, just absolutely bullish.
And, and it really kind of reminds me of the the Kaiser
tweet, you know, everyone in the chat right now, we're all
wondering like, why is it going to 60 K?
And even today, what, a 10X to 600,000 per coin?
We're all like, yeah, it's going to get there eventually, but not
this cycle. And so you can feel the same
type of energy regarding the Bitcoin price right now and all
of the factors that are playing out where it's like, man,
there's, there's so much capital that is just literally what like
3 months ago just unleashed ready to be deployed into
Bitcoin. And we're still all super
bearish because we have PTSD from the last cycle.
And we're like, it's, it's like, let's break 100K first and
foremost before we even talk about these nerds.
But one thing though, that I did find hilarious in that sailor
tweet is he he kind of going down the beauty on the beauty on
route where he's like, yeah, your memes mean nothing.
They're not going to change anything.
Which to a point, like I kind of agree to a certain extent
because like, what really matters here is the amount of
capital going into Bitcoin. Hence why there's so many times
when I get frustrated with Bitcoin.
It's like, it's not about the price, bro.
And it's like, it's literally all about the price because
that's a real time metric of the capital coming into Bitcoin.
And so, yeah, we love the technology behind Bitcoin.
You know, we're all in it for the tech obviously, but the
price is a real time indicator of how much capital is going
into Bitcoin. And it's super important if you
if you kind of separate the fact that it's not just about being a
moon boy, It's about understanding that as the price
goes up, that means more capital is going into Bitcoin, which
kicks off the positive feedback loop, which means more people
are going to know about Bitcoin and start to follow into
Bitcoin. So, you know, stay stupidly
bullish. Like how funny out there and do
10 million price $10 million Bitcoin prediction when Bitcoin
doesn't even have a price. So shouts out to what's his name
now? Opti pro slavery Apple Maxi
fields. Who's saying that?
It's already Infinity per SAT today and the world just hasn't
priced it in. Oh man, oh man, yeah, it's
Infinity divided by 21 million. And I got to say something
because you referenced this, this cycle.
I, I think the last cycle people were like taking 100K.
They're just like, it's going to hit 100K for granted.
Now you could have made a bunch of arguments as to why that not
that didn't happen in regards to the China mining ban, you know,
the rehypothecation from FTX and like all these things.
But the the feeling that I get this cycle just based on
interacting with people is that people are just like it's like
they're, they're expecting, like they're being overly bearish in
a way. And just from being Bitcoin for
quite a while now, like Bitcoin tends to do the exact fucking
opposite of what everyone thinks it's going to do, right?
So, yeah, I mean, that's my take on what's coming up.
But it's probably a good idea to get some just in case it
continues to catch on. You can't even say that anymore.
Anyways. All right, I do wanna give a
very special shout to our sponsor.
And of course, I'm talking about the pleb party in Nashville.
It's gonna be absolutely awesome.
Opti and I are gonna be there. Rustin's gonna be there.
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If you're going to Bitcoin 2024 in Nashville, this is going to
be the day before the conference starts.
It's going to be the party. It's a 12 hour open bar for
anyone who doesn't know what that is.
The drinks are included in the ticket.
It's from noon to midnight. You definitely want to miss
this. There's expected to be 1000
people, definitely. Don't want to miss it.
It's. Going to be 1000.
What did I say You. Definitely want to miss it I.
Definitely don't want to miss it. 1000 people are expected to
be attending. You want to get your tickets
quickly before they sold out and they sell it at levels.
So I think that there's only a couple tickets left at the
current price point. So I'll see you guys in
Nashville at the pleb party. It's going to be absolutely
bonkers. It's going to be a great time
and it's a great, it's a great opportunity interact with the
Simply Bitcoin crew. All right, everybody, let's hit
the news. Lots to talk about.
The Daily News. I wanna give a shout out to our
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But it's not your Bitcoin unless you have it in cold storage.
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Devices. I was gonna say, don't think
about it. Take your Bitcoin off exchanges.
Exactly. By the way, if you don't know
how to use a hardware wallet, it might be a little perplexing for
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And you could pair it up with the Envoy app on your phone and
guess what it's makes spending cold storage Bitcoin incredibly
easy for. I don't know why you'd want to
spend your Bitcoin, but just in case one day.
Anyways, I want to talk about this because this is the news
that was making the rounds Mount Gox, which I feel like I've
heard this a million times, but I guess it's true this time.
So the headline for audio listeners is a coin desk article
says Mount Gox to begin repayments in July.
BTC slides under 61K. Here are the key points.
Defunct Bitcoin exchange Mount Gox said it will start
distributing assets stolen from clients in a 2014 hack in July
2024 after years of postponed deadlines.
The repayments will be made in Bitcoin and Bitcoin cash and
could possibly add cell pressure to both markets.
So I mean, what's your take on this Apple like?
Apparently it's 140,000 Bitcoin, but I mean, compared to sailor
stack, it's actually smaller than sailor stack.
It's still quite a bit quite a lot of Bitcoin, quite a lot of
apples that you can get for those Bitcoin.
So wicked what what are your thoughts on this is, is this was
this the catalyst for the price to dump like we're almost at
we're almost in the 50K region. We're at 60,388.
By the way, if you guys are watching the show, it's probably
a really good opportunity to stack some sats.
So head over to bitcoinwell.com. Smash the buy button anyways.
Wicked what? What's your take on this,
brother? I don't know, man, and we've
we've seen this flood over and over again.
And even if they do distribute it finally next month, and it's
not like all those Bitcoin are going to be sold on the market,
right? A lot of them are probably just
going to be huddled. Anybody who wanted to sell their
Mount Gox Bitcoin already did like on, you know, the secondary
markets. And so I don't think there's
going to be very much selling of this Bitcoin that gets
distributed. Maybe they'll sell the BCH
though. So if you're you're if you're a
B cash guy, I'd be worried, but I think the Bitcoins probably
just going to be huddled. Yeah, I I agree.
I agree. Opti, what's your take on this
bro? Well, first.
Before era. Before.
Yeah, it's definitely before my era, but I was just going to say
like, this is one of those news stories that just like keeps
giving. And it's a constant, constant
reminder of why everyone needs to take your Bitcoin off
exchanges. And so anyone that's new to
Bitcoin maybe aren't familiar with Mount docks, maybe they
kind of heard about it, whatever.
Like this just goes to show that you do not want to leave your
Bitcoin on exchanges. Any exchange will eventually
most likely end up like Mount Gox.
And so This is why I always told Nico about the ad where we need
to update it because it's not about thinking about taking your
Bitcoin off the exchange, because a lot of people get lost
and just thinking about taking their Bitcoin off in exchange.
It's like you want to take the steps, even if it's a simple
step, first and foremost, going into like a mobile wallet, it's
better than leaving your Bitcoin on an exchange, but you want to
take the baby steps to eventually get your Bitcoin into
cold storage. You know, of course, we
recommend passport by foundation because it's super easy, but you
have to, this is like one of the main fundamental rules of
Bitcoin is you need to take your Bitcoin into custody.
I've been saying for a long time, I, I don't care how you
get your Bitcoin, as long as you end up with your Bitcoin in cold
storage. That's really what matters.
And this is what Nico he says. This is how we define, you know,
the Fiat system, the tyranny of the Fiat got dollar.
But with that being said, Nico, I was tagged on this right
before the show happened. So since it's Monday, I'm going
to pull it up and we'll get a little bullish, a little bullish
bull sauce, opium sauce for everyone in the chat.
So apparently here's a chart here and I'm I need a zoom in
over here so I can look at. So I might I might be a little
off camera guys, but it's apparently the past three times
that mount gotts repayment, quote UN quote FUD was dropped
was March 6th, 2023. This first line November 22nd,
2023 and January 6, 2024. And if you look at the chart
guys and you see one connection here is the price always goes up
afterwards. So hey, if this is the last dip
we need before the price pumps, then I'm absolutely for it.
And it really reminds me of something that check maybe has
said on the show for us, Nico when he came on the IRL is the
idea that the best you know, the the Bitcoin price needs a
catalyst for it's the. Second best.
The Bitcoin price needs a catalyst for it to go up higher.
And what checkmate he's been saying on his Twitter the last
couple of days is like, usually the best catalyst for this is
the price dumping a little bit. So this is all healthy stuff in
the market. If you're new to Bitcoin, you
know, don't get shaken out. Keep stacking.
What do we say? This is the this is the cost of
tuition. Everything will be all right.
Just keep stacking. Taking Bitcoin in the cold
storage. This is how you earn your
stripes. You have to you have to reach
Bitcoin's end, right? And you reach Bitcoin's end by
you know, just just stack those sats and you know, just unplug a
little bit unplug. Anyways, before I move on to the
next story, you guys know that I love talking about how Opti
ruined it for all of us because dating history.
And of course I'm talking about the witch the, the Wicked Witch
of the East, the Wicked Witch of the European Union.
And of course I'm talking about Christine Lagarde and she is the
head of the European Central Bank.
Now, even though this is extremely unpopular, even though
it's been community noted on on Twitter, they don't give a
flying fuck and they're moving on full steam ahead in the
European Union. They seems like they rebranded
it, which is really interesting. Ladies and gentlemen, it's not
called a central bank digital currency.
They're just calling it a digital euro.
They're leaving the central bank digital currency completely out
of the post. By the way, that is by design
and what we do here at simply as we point this out.
So you guys could, aren't you get, you guys could arm
yourselves with the truth and the weapons that you need to
combat on the other side. Of course, when I'm talking
about combat, I'm talking about information narrative trench
warfare. It's, it's a war over hearts and
minds of individuals. So this is a bait and switch.
Just because they don't call it a CBDC doesn't mean that it's
not a fucking CBDC, right? And here's Christine Lagarde
saying we've made significant progress towards ensuring we are
ready to issue a digital year in the future if needed.
We look, if needed. That's bullshit.
Again, you have to pay attention not to what they say, but pay
attention to what they do, right?
Oh, we're doing this if needed. You know, that reminds me of
when the Federal Reserve is telling you they're not
investigating into, they're not looking into a central bank
digital currency. But you had Tom Emmer, the GOP,
I think majority whip. And he was basically saying
like, look, I got a report to my office and one of the mission
statements of the Federal Reserve right now is
investigating a central bank digital currency.
So what is it you guys are telling me one thing on one hand
and the other thing on the other hand.
And then you see the movements from the states, right?
I think I saw shout out to Satoshi action fund.
It was breaking news that the state of Louisiana passed a law
that would make it illegal for a central bank digital currency to
be rolled out. The state of Florida is the is
the same they they already passed the law.
So this is incredibly popular to the point that now it's entered
into the mainstream political discussion.
You have the president of, you know, the potential president of
the United States, Donald Trump, and also RFK Junior that are
running against Joe Biden basically saying under my
presidency, we would never allow central bank digital currency
and we would be pro Bitcoin. And then the other side, they're
not saying much. They even walked back their anti
Bitcoin stance on, you know, in wording, not really in actions
because they realize how unpopular this is.
Now. That's like, do we really live
in a democracy? Is, is the government really
representative of the people? If they're marching full steam
ahead with a central bank digital currency, even though
it's not popular with their to the point that they have to lie
to you and gaslight you and tell you we're actually not looking
into this, but they are in the case in the United States and
Europe. They they don't give a flying
fuck at this point. They're just like, you know, you
guys are just going to have to take it.
But this isn't needed. Like people aren't asking for
this. The reason they're so hell bent
on rolling this out. Christine Lagarde said this.
These are her words. She's like, we're at risk of
losing the, the central bank, losing control and losing power
if we don't have a digital currency.
And that's what it's about, break free from the shackles of
Fiat currency because it is literal slavery.
Like even if even if you take out the the currency
confiscation, even if you take out the censorship, even if you
take out the capital controls, if you take out all of that
stuff, it's still slavery because the money that you spend
hours and time and energy working for is constantly
stealing from you. What is that but not slavery?
We are already like somehow they si upped us into the social
contract of income tax. That's a whole other rabbit
hole. But most people have not agreed
to the tax of inflation. And make no mistakes, it is a
tax, right? So it's our responsibility to
really wake people up. A digital currency issued by a
central bank isn't going to solve inflation, and that is
what Bitcoin solves anyways. So let's move on to the official
post because it's bullshit. Let's highlight it.
Here's the European Central Bank.
We've published a report summarizing our progress in the
Digital Euro project since the preparation phase they started
on one November 2023. I bet you this fucking thing is
way longer than the Bitcoin white paper.
A digital euro would provide an all in one digital payment
solution that is accessible to all.
Should it be issued, right? Should it?
It's not a central bank digital currency.
It's actually a digital euro and we actually haven't issued it
anyways, but it could be issued in the future.
Like fuck you. All right, I got to say it.
Like fuck you. I don't believe you at this
point. It would make our payments
market more innovative, resilient and less dependent on
non European schemes. And this part is extremely
insidious. Why is it insidious?
Because essentially they're commingling that somehow Fiat
money represents Europe like the euro represents Europe.
I would say that Fiat money is a representation of the state.
It is not a representation of the people.
The state has a monopoly on the issuance of Fiat money.
It has control on Fiat money. It completely controls the
thing. Bitcoin could be made by anyone
if you invest in the proper infrastructure, right?
You can hold. It doesn't care about your
nationality, doesn't care about capital controls, doesn't care
about sanctions. Anyone.
No matter where you are in the world, you can download a
Bitcoin wallet. And now you can interact with
the global economy. You can't do that with the
fucking digital euro. You can't do that with, you
know, it's an American CBDC and all that stuff.
They don't want to let they they still want to psyop you into
thinking that somehow you're non European because you don't use
the cocked state money, which is absolutely bullshit.
So anyways, here's more examples of just the absolute gaslighting
and we can go completely against Joe Biden because he's against
Bitcoin and you guys know, you guys know the deal on the show.
We don't need left to right. We don't care about Democrat,
Republican, but we are single issue voters.
We are pro the candidates that are pro Bitcoin like Donald
Trump and RFK and we are anti we are against the candidates that
are against Bitcoin. The Joe Biden administration has
been extremely against Bitcoin. We've covered that in depth on
this show. This is the definition of
gaslighting. OK, Inflation was 0 on a monthly
basis, monthly basis in May. This is welcome progress, but
prices are still too high. That's why I'm fighting to lower
cost by increasing rental assistance, taking on big
pharma, and investing in affordable clean energy.
I want to focus on this part investing.
So that means that you are you are fucking spending money.
You're printing money to tackle a four.
This is the gaslight. This is the gaslight of the
century. He's basically saying, guys,
even though we cause inflation, we are the issue to inflation.
The the the solution to inflation is less government.
The solution to inflation is not the government.
The solution to inflation is not a president like Joe Biden, like
Donald Trump, like RFK Junior. The solution to inflation is the
separation of money in state. And they won't be able to
gaslight you when they, the only way that they're able to raise
revenue, including pay themselves is via direct
taxation. They won't be able to gaslight
you like this, right? So this is bullshit.
And here's some awesome Bitcoiners explaining in the
comments. This is what we talked about
when we talked about narrative trench warfare.
These are examples of that. You have the president of the
United States gaslighting everyone and then you have
bitcoiners saying that's not true.
This is why this is the importance of you making your
voice heard. Here's Walker America huge fan
of his content says inflation compounds inflation was not 0.
Inflation increased but at the same same rate of increase as
the prior month. Bob Burnett work won't work.
Balance the budget and stop printing money instead.
Corn neck does. Inflation was 0 on a monthly
basis in May. So the cost of your adult
diapers may not go in May. Here's Steven.
Inflation year over year is what is crushing the American people.
This is absolutely the fault of Joe Biden and his handlers going
absolutely savage. Here's clown world.
Are you serious? People are struggling to afford
groceries and you seem completely out of touch with the
reality. I don't agree this is on
purpose. You have to understand this is
on purpose, just like this and the wording that they're using,
right? This is on purpose.
You saw they mentioned digital physical cash.
They're trying to let you know that this isn't going to replace
physical cash, right? So they're trying to sneak this
in. This is bullshit.
The state shouldn't run people's lives.
The state doesn't know better. I think the last four years have
shown the utter catastrophes of the unintended consequences of
censorship, the unintended consequences of a bureaucratic
elite getting to dictate how people should run their lives,
people losing their livelihoods because they didn't decide to do
to, to make certain medical decisions, right?
Not to mention the potential war, like the nuclear war in
Ukraine, right? Potential this is this is all
the state, this is Allstate. This is all government that you
have to under like people have to get that through their heads.
And how is this whole entire system funded?
They print fucking money the the central bank.
It just gives them the ability to play God and essentially
create money for free out of nothing that the rest of us
peasants, because that's how they see us have to work for and
that is absolutely absurd. So if you want World Peace, if
you want to be able to save for a better future, if you want to
live the American dream no matter where you are in the
world, get on a Bitcoin standard.
And the beauty of Bitcoin is as soon as you adopt it and you put
it into cold storage, definitely get yourself a passport hardware
wallet. You are part of the revolution.
You are part of the movement of the separation of money and
state. You're part of it.
That's all you got to do is buy Bitcoin and Bitcoin buying
Bitcoin, put in cold storage. That's it.
You're part of this revolution. You're, you're enacting change,
not through the democratic process they say is the end all
be all, but through a process of opting out of their system
entirely. And I'll tell you this guys,
it's 100% voluntary and it's 100% done by incentives.
Their CBDC system, their euro system is 100% a coercive
system. They're not going to get people
to sign up to this shit voluntarily.
They're going to coerce people and then hide behind, oh, this
is good for the greater good. Fuck you bullshit.
I remember what you did in 2008. You fucked the rest of us.
You bailed out the bankers. No bankers went to jail, and you
completely stole the time and energy of the zoomer millennial
generation. So I don't believe you guys
anymore. And that's why Bitcoin was born
and that's why we're here, and that's why we're going to
fucking win because we don't believe what you have to say
anymore. It's fucking bullshit.
And now we have the Internet. We can combat you peer-to-peer.
That's why you hate this. This is why journalists love the
ability to just control the fucking narrative all the time.
Look, I have an actual video of Elon talking about this.
There's another type of phenomenon that we're all living
through that people have to understand.
This is the disintermediation of money and in for money, but this
is also the disintermediation of information because the Internet
allows mass scale peer-to-peer communications, right?
So let's check out Elon. He has about 3737 second clip.
Also, he's in Miami for this. So shout out the three O 5 and
then I'll pass it on to Octi and wicked.
Now, the thing that that a lot of traditional journalists don't
like is they don't like being put on the same platform as the
average citizen. They don't like their voice
being it's the same. They're pretty mad about that.
I, I think it's very important to, to elevate citizen
journalism. I think it's very important to
hear the voice of the people, the actual voice of the people,
not the filtered voice of the people.
And let the people choose the narrative and let the people
determine the truth and. Not 5 editors in chiefs of major
publications. Do you want to know what's
really going on? Or, and that's it.
Like it's as simple as that. Let the free market of ideas
come to their own conclusions. Let's not let you know.
A handful of editors get to determine what is the truth,
what is not the truth, period. Anyways, Opti, what's your take
bro? First and foremost, I got to
give Nico some horn for the Nico Jones is so back today.
I I was literally telling Nico last night like we need some
good old fashioned Nico Jones rants.
We we need to unleash Nico here. Anyways, going back to the CBDC
or Digital Euronews first, the first thing that popped in my
mind besides the fact that they completely rebranded the CBDC
project to just leave the Digital Euro.
It's absolutely incredible that they are obviously listening.
And I think I said this last week where it's becoming very
obvious that they're listening to what people are saying on the
Internet and then they're trying to craft their narratives in
such a way so that they don't get the backlash from everyone
on Twitter. And I think this is one of those
moves right here where like good catch on the digital Euro not no
longer being called the central bank digital Euro project or
whatever. It's just simply the digital
euro. And again, when I heard the
digital year, my first thoughts was always like, the euro is
already digital. All fuel currencies are already
digital. Like if you understand that,
then what's the real, what's the real thing?
What's the real need for the digital euro project or central
bank digital currency? And that's where the narrative
falls off because they always frame it in the same way.
They're always like, oh, this is for all in But you can tell that
the gas sliding is strong and that a lot of people still
believe that Bitcoin is only about digital payments.
And until that, until we work on educating people on that idea
that Bitcoin isn't just about digital payments, it's not about
paying better on the Internet, it's about keeping your saving,
it's about fighting inflation. And they never once ever talk
about inflation being the problem.
And when they do, they gas like you.
Like that Joe Biden tweet there where he literally talked about
things that are going to increase inflation.
They basically said like, we're going to spend more money here,
we're going to print more money and this is going to fix
inflation. And people out there think that
this is an actual fix, like he should be embarrassed that he
actually tweeted that because none of those things will fix
inflation. The real problem, like you know,
Walker was saying, is that they're printing obscene amount
of money. They're going to continue to
print money. They have to keep printing
money. This is how the Fiat systems
work and it's just it really the first one that really grind my
gears. It's like, you know how we're
going to we're going to fix inflation.
We're going to increase rental assistance, like we're going to
add on to the welfare and print more money and that's going to
help your inflation guys, which just goes to show that most
people don't understand basic economics and they will continue
to gas item on purpose. Exactly.
Don't they don't teach that at school.
There's very like famous Charlie Kirk video.
And he's like kind of doing interviews.
And he was just like interviewing people.
Like do they teach Mises? Like do they teach Hayek?
Do they teach whatever? And then he's like, no, they
don't teach. And then and and and Charlie
Kirk Riley shows like, so you're not going to school, you're
being propagandized, right? So this is what people have to
understand is that people are being taught Kenzie and
economics. People are being taught that
somehow inflation is a fact of life, which is like, think about
that for a second. Like they've psyopt a huge
portion of the population into thinking that money has to lose
purchasing power to function like and that's where we have to
keep pressing. They don't have a good answer to
that. They don't have a good.
Response but my roads, my roads bro and.
We'll, we'll get it. We'll do an episode on that
anyways, Wicked. What's your take on all this,
bro? The gaslighting, the propaganda
and and also I would say the winning because if we weren't
winning then they wouldn't change, They wouldn't rebrand
the the Euro, the European CBDC. Yeah, I mean, I'm, I'm always
kind of on the lookout for what are some of the things that
they're doing to try to coerce us into adopting ACBDC or, you
know, as they're calling it a digital euro now.
And I think the big thing that we'll start to see is Ubi start
to get rolled out, especially as financial markets start to
crumble, right at an accelerated rate.
We might actually enter a recession or a depression at
some point. And when they turn on the, the,
the QE machines, they're going to need a way to distribute
those funds. And I don't know if they're
going to cut checks like last time.
I think this time they're trying to roll out a CBDC so that they
can say, listen, you just download this CBDC app and then
we'll give you your Ubi checks to help you with, you know, all
of your struggles in life. But what they won't say is how,
you know, those CBDCS are going to, they're going to have
capital controls, they're going to have restrictions and they're
going to lock you into, you know, a situation that you're
not going to be aware of until it's too late.
And so you're going to get free money, but you're only going to
be able to buy very limited things with it.
Maybe it'll help you pay rent and and those types of things
and I don't know sure. I mean it's hard to say you
wouldn't take it right? Like if the government says,
hey, download this app and we'll help you pay your rent, are you
going to are you going to decline that or are you going to
I? Would love dude, if they gave,
if they were like you be like yeah, fuck yeah.
I'm going to put that into. Bitcoin bro.
Well, that's but listen though, 2020 is like, yeah, give.
Me free money. I bought Bitcoin with it.
It was. Great, it was this attack.
This is exactly what I'm saying though, right?
Like, like the, the, the 2020 checks, you could, you could
spend on whatever you wanted, but if they did it via CBDC, you
wouldn't be able to. And so I think that's the next,
the next kind of, you know, pumping of liquidity into the
system when things start to fail might be rolled out with a CBDC
so that they can be more restrictive with how you can
spend these things. Now, again, sure, you want to
help me pay my rent. Great, help me pay my rent.
And then that excess capital will go into Bitcoin.
So you know, it's like either way, I'm getting more Bitcoin,
but I don't think you'll be able to buy Bitcoin with the CBDC
that they give you through Ubi. Amen, Amen.
No, of course, because it's it's an attack like they're just
giving you this fake money and you're buying something that's
absolute scarcity. You're you're nearly like
attacking the system on a much smaller scale that Michael
Saylor is like speculatively attacking the dollar using the
infinite money glitch, but it's essentially the same, right?
It's like they're using that, they're using their system in
order to buy something with absolute scarcity.
That's a one way road, right? Anyways, before we move on to
the culture to give a very special shout out to our sponsor
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Orange Pillow app and I will get back to you.
All right, everybody, let's get to the culture.
Lots to talk about. The daily culture.
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scan the QR code or check the link in the video slash podcast
description. Anyways, I'm going to move it on
because we have a very special guest today.
We have wicked in the house. Wicked is incredibly wicked at
creating these amazing kind of graphical interfaces.
You kind of explaining the, you know, the price action of
history, just breaking it down. And it's incredibly popular.
It's really, really good work. So Wicked.
Thank you for joining us man. Yeah, glad to be here.
Awesome. OK.
All right, I'm going to pivot here before we get to some of
these charts because we were going to talk about this earlier
before we even went on. Nico was asking Wicked his
thoughts on diminishing returns. And I feel like that might be a
good place to start. And then we'll pivot into Wicked
becoming a bits maxi, which I know is going to trigger
everyone in the chat. So let's just start with the
Wicked. What's your thoughts on the
diminishing returns meme? I know this has been kind of a
constant thread going on on the Bitcoin space recently.
And, and I know you look at the, the Bitcoin price very intently
and, and you tried to parse out what's going on with the Bitcoin
price action today, where we are in the future and you know,
making at least a mental map of what we can expect moving
forward. So what's your thought?
General thoughts on diminishing returns?
Yeah. I mean, I think that it's, it's
a strong narrative and it's one that if you're just looking kind
of epoch after epoch of the returns of Bitcoin, it seems as
though they are diminishing, right.
So just looking at the returns, we have 4 epochs that are
completed now we're in the 5th, right?
First epoch they had a return of Infinity because it went from
zero to, you know, a price. Second epoch you got a 53 X.
Third epoch you got a 14X. And the 4th epoch, the one that
just finished, you got A7X. OK, so it's getting smaller and
smaller and smaller. Everyone's expecting this next
one to be even smaller. So what like a 2-3 or 4X,
something like that. I think that I think that's
bullshit. I think that we have, you know,
at least another epoch or two where we could exceed the
previous one. So we could exceed a return of
7X, you know, over the maybe maybe this epoch or maybe the
next one. The other thing that you have to
consider is like, it's not just OK.
So like you're considering purchasing power returns, right?
And yes, there's a cap as to how valuable Bitcoin can get
because, you know, if it gets more valuable than everything in
the world, then that starts to not make much sense, right?
But if you're just pricing things in terms of dollars and
you know that dollars are inflating, then you know, you
know that it's at a certain point the acceleration of the
inflation of the dollar is going to get crazy.
Like, you know, Weinmar status and then your quote UN quote
returns in terms of dollars are going to be insane right now.
Of course you won't care as much about it at that point because
you'll just want Bitcoin. You'll start pricing things in
terms of Bitcoin, but there will be an epoch in the future where
the returns are Infinity again. People don't understand.
It's like they don't rock it, right?
It's like literally the dollar is going to 0, which means that
the return in terms of bitcoins going to Infinity.
At some point there will be an epoch where we go to Infinity
returns again and then it will be over for the dollar and it'll
just be a Bitcoin standard at that point, so.
And those who have Bitcoin cause like if you look at countries
that experience this like kind of hyperinflationary period,
right? What tends to happen is if you
are holding on to like in the case of Argentina, for example,
if when Argentina was going through this, you know, and it
seems like Malay got it mostly under control.
But if you're going through that kind of period in history, what
tends to happen is if you're holding dollars, you're a king.
Like if you're holding the good currency.
And in this case, in the case of the dollar, be like, if you're
holding Bitcoin, you're gonna do very well, right?
Because everyone's gonna want it.
That's is hyperinflation doesn't happen because they because
there's a limit that gets hit because they printed so much
money. Hyperinflation is a phenomenon
where essentially the population, it reaches a
critical mass where enough people lose faith in the
currency and they all try to get rid of it at once, right?
That's what hyperinflation is and what always happens.
And and of course in in America, I don't think it's, I don't
think there's ever been a hyperinflationary period We're
about to brick go under. 50 I think we already went under 60K.
This is lagging over here. His block clock. 662-5090 OK, So
yeah, it's this is interesting price action, interesting price
action. But yeah, that that's what you
have to understand, right, is that that Bitcoin is keying in
these types of situations anyways.
Pass it on. Hold one thing.
Shit, it is a fucking giant candle.
Let me pull it. Up.
Go, go on. Wicked enough.
What? We, yeah, I was gonna say, I was
gonna say another thing, another thing.
So it's not just holding the superior, you know, money,
right? So if you're in Argentina,
you're holding dollars, you're doing a lot better than people
who are holding, I mean, Argentine pesos.
But it's, it's, it's also pricing your goods and services
in terms of the superior money, right?
Because if you're pricing your services in terms of the peso,
Argentine peso, and then it gets inflated, you have to now
renegotiate all of your prices way, way higher.
Whereas if you had been pricing them in terms of dollars, now
you know, you don't have to renegotiate, you're still
earning, you know, the same amount of dollars, right?
So same thing happens with Bitcoin.
It's like you're not only adopting it to hold it, but you
also have to adopt it as your unit of account so that when
your Fiat currency inflates, you don't have to renegotiate all
your prices if you have them already in Bitcoin.
Love it, love it. And and the perfect segue
because I know you wanted to talk about the bits versus SATS
debate and I think that's a perfect, I do have a tweet here
of yours, which let me pull that up as well while you go.
And I think the biggest take away that I got from just we, we
briefly talked about it before the show, but it's that no one's
bullish enough. I think that's a good indicator
of what we're talking about. But you just, you had this tweet
and you just hit this on the head a second ago.
You go, you should start measuring your net worth in
terms of Bitcoin. Then your priority will shift
from trying to make Fiat profits to preserving your Bitcoin
denominated wealth. And I absolutely love that
framing as well. I say that all the time, but
segue that conversation into no one's bullish enough and why you
are starting to become a bit maxi.
All right, so just to touch on that tweet real quick.
So you know, it's like, and this is especially important as we're
dumping, right? If you're measuring your your
net worth in terms of dollars right now, you're freaking out
because your net worth just went down, right?
If you assuming you're holding mostly Bitcoin, if you're
measuring it in terms of Bitcoin, then what you're going
to notice is it you know, it's it's either saved flat because
you're already all in or if you have a little dollars on the
side, it actually just went up, right?
So I mean, this is a good thing. Your your Bitcoin nominated net
worth most likely just went up because I know a lot of you
motherfuckers are still holding dollars.
I don't know why, but yeah, I mean, you know, this is a good
thing, right? So now's a good time to deploy
those dollars so that you lock in that Bitcoin denominated net
worth, right? You don't want it to go down.
It just went it just ticked up a little bit.
So lock that in and deploy those dollars that you still have
left. All right.
So the bits conversation, we can move on to that.
So I mean, yeah, this is kind of tying in with everything we've
been saying. So you know, kind of like the
where Bitcoins headed in terms of a price and then how people
are going to start pricing things.
I mean, I think, I think a very, very modest target for Bitcoin
price is like 1,000,000 bucks, right?
I think everyone has 1,000,000 bucks on their mind.
We all know it's going there eventually.
You know, it'd be kind of surprising if it reached there
this epoch, right? But maybe the next one, maybe
the one after that. It's not a matter of if, it's
when, right? So when Bitcoin reaches
1,000,000 bucks that I think that will kind of be a signal
that we've reached kind of like a, a very high level of adoption
globally, right? You don't reach 1,000,000 bucks
without getting a, a decent amount of people involved in
Bitcoin, if not the majority of people.
So at that point we're going to, we're going to actually start
pricing things in terms of Bitcoin, right?
People are going to start saying, OK, we've adopted this
as our money or, or at least we're saving in it.
And we're comfortable with the idea of Bitcoin being money or
savings. Now we want to spend some of it
or we want to earn more of it, right?
They're going to start pricing things in terms of Bitcoin at
1,000,000 bucks. A Bitcoin one bit equals $1.00.
It's bit dollar parity, right? I think this is going to be a
key kind of inflection where it will be very interesting to see
prices listed at your grocery store.
Dollars next to bits, right? You'll see, you know, at that
point, maybe a gallon of milk if you're in the States will cost
like 10 bucks, right, due to inflation.
And then right next to it, you'll see 10 bits, right?
And maybe you'll wait a year or two and you go back to the
grocery store and then it will be $11.00 and nine bits.
And so you'll really start to see this like, you know, this,
this divergent of the prices. And it'll be very, very clear if
the prices are in bits, right? If they're in SAT's, it will
still be, you know, clear, but not as clear, right?
Like we need, we need it to be as clear as possible for the
normies at that time. And I think BITS is going to
make it very, very clear, especially if you're a United
States, an Army, which, you know, living in the States,
that's kind of all we care about.
Have you heard of knacks? What's What's next?
It's a superior unit of account to bits.
Oh. Yeah, Yeah.
What is it? What is it?
I don't know. By the way, I probably, I
probably should have said right from the start, a bit is a
millionth of a Bitcoin and that's that's an important thing
just to lay out for anyone who doesn't know that.
Yeah, yeah, it's 100 sats. So a bit to a sat is the same
thing as a dollar to a cent, right?
It's just kind of. It makes the.
Conversion and actually wicked just to your point.
And and this is our boy Winekus and and he he's low key trolling
you, but I think that's the point that we're kind of saying
Winekus goes bits are for dummies.
And it's like, yeah, we're talking about normies.
Exactly. Exactly.
What we're? Talking about This is why it's
the. Perfect unit of account.
That's what people don't understand.
Yeah. Anyways, wicked, before I give
you the floor again, Knack is just C9 SAT.
So it's a troll metric? It's a troll metric.
It's a superior unit of account. Super easy to, you know, to,
yeah. Easy maps.
Here to divide, right? Yeah, yeah, everyone knows all
the 69 multiples. Oh, man, but but yeah, man, no,
I agree. I that's a really good point.
Wicked. Like, in all seriousness, like,
you know, and and you know, I think it's Adam Back who's also
a fan. Yeah, he loves bits.
He he loves bits as well. That's that's a very, very
interesting perspective. Yeah.
Like I. I'm a sad maxi, I do all my math
and sad sads is easy. But the one bit to 100 sets, you
know, comparing it to a $1.00 with 100 pennies, like
$1,000,000 Bitcoin, you know, one bit equals a dollar.
Like I, I don't know it, it makes perfect sense to me when
it's kind of like just simplify the mass for the normies out
there. So like, I don't know, I've been
trying to push bits as well, even though I do all my math and
stats, But like I get I, I get why it might, it might
eventually end up bits, which is kind of what we can say.
And listen, I mean, so SAT's are, I mean, SAT's are still
there, right? It's not like we're getting rid
of SAT's. You know, cents are still here
too. We didn't get rid of cents just
because we all started using dollars to denominate things.
And by the way, if things cost less than a dollar, what do you
see the price at? What do you see the denomination
used in grocery stores? You see that little cent sign
with like whatever, 99, right? So like we still use cents now
if things are cheap enough. And with Bitcoin, you know,
we'll go through this transitory phase where we're using bits
because things are are better priced in terms of bits.
You know, like I said, a gallon of milk cost 10 bits or
whatever, right? But eventually, because Bitcoin
goes up in value over time and things get cheaper in terms of
Bitcoin over time, maybe that gallon of milk will cost 99 sats
at a certain point and then we'll start using sats again.
So it kind of be like an opposite.
Way of, of, of going through history, right?
Whereas with Fiat, we used to denominate everything in terms
of cents, things were like $0.10, five cents, four and a
half cents, whatever, right? And then as we progress through
time and got more and more inflation, we got dollars.
And now with Bitcoin, I think we're going to go through a
phase where we're using bits. And then as more and more time
progresses and Bitcoin gets more valuable than we'll transition
to using SAT's, there will be there will be a period of bits.
Bits will reign supreme, I think for a decent amount of time.
And people are sleeping on it. I agree.
I agree 100%. It's a very, very good way of
breaking it down. Anyways.
Wicked. Wait, wait, wait.
Nico, I don't don't end it yet. I wanna ask Wicked one more
thing before we go. That's what I was gonna Oh, OK,
OK. Sorry.
I thought you're going to end it.
OK, Yeah. So we do have to start getting
ready for the mining disrupt conference.
But Wicky, I want to wicked, I want to give you the floor.
Do you have any last message for the 1753 people that are
currently watching live plus the 50 or so of you guys watching
live from Rumble? By the way, guys smash the like
button. We only got 120 likes.
We can, we can do better. Those are rookie numbers.
So if you guys are enjoying the show on YouTube, XA rumble smash
like button really helps with the algo.
So wicked give you the floor bro.
Yeah, you got to you got to pump those numbers up.
I mean, I think so it's the same as always, right?
These stacks that start measuring your net worth in
terms of Bitcoin, huddle your Bitcoin, earn more than you
spend, save all your excess wealth in Bitcoin, do that shit
for at least a whole cycle and see where you're at.
I guarantee you're going to be better off than where you
started and then you're going to be a Bitcoin for life.
So, you know, just keep. Going Amen 100% I always say
this too takes four years to realize you've made a good
decision and then it takes eight years to be relatively wealthy
compared to where you started from.
So anyways, guys, that was simply Bitcoin live for June
24th 2024. I'm your host, Nico's my
legendary coast optimist fields our guest for today wicked.
You can go follow him on Twitter at W under score S under score
Bitcoin drop some really hot fire signal.
Like I said in the beginning of the show, we will be off on
Tuesday and Wednesday because we will be live streaming the
mining disrupt conference coming out of Miami.
You're going to have the largest Bitcoin miners and CE OS and
executives and going to be at that conference.
There's so many panels believe Ted Cruz is going to be making
an appearance. Also a lot of well known, you
know, Bitcoin mining executives as well.
So really, really excited for that.
So guys, tune into the simply Bitcoin channel tomorrow and
Wednesday and then we'll be back with the live show on Thursday
for a brand new episode of simply Bitcoin Live.
Until then, love you everybody, take care, Peace out everybody.
Episode was brought to you by bitcoinwell.com on a mission to
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