1 00:00:04,000 --> 00:00:06,360 It's. All going to zero against 2 00:00:06,360 --> 00:00:08,840 Bitcoin. It's going up forever. 3 00:00:16,400 --> 00:00:18,160 You're. Against Bitcoin, you're against 4 00:00:18,160 --> 00:00:24,280 freedom. Yeah. 5 00:00:24,280 --> 00:00:27,080 Welcome to another episode of Simply Bitcoin Live, your number 6 00:00:27,080 --> 00:00:29,440 one source for the peaceful Bitcoin revolution of breaking 7 00:00:29,440 --> 00:00:31,520 news culture. Matic Warfare will be your guide 8 00:00:31,520 --> 00:00:33,640 through the separation of money and state. 9 00:00:34,200 --> 00:00:37,240 Very interesting. The Overton window continues to 10 00:00:37,240 --> 00:00:40,600 shift. Very popular content creators 11 00:00:40,600 --> 00:00:44,280 that are not within the Bitcoin echo chamber continue to talk 12 00:00:44,280 --> 00:00:46,640 about Bitcoin. It seems like Tim Poole, one of 13 00:00:46,640 --> 00:00:50,440 the most popular broadcasters or podcasters on the face of the 14 00:00:50,440 --> 00:00:52,280 planet. He's literally saying like I'm 15 00:00:52,280 --> 00:00:55,160 happy I bought Bitcoin right? And this is something that Max 16 00:00:55,160 --> 00:00:58,640 Keiser shout out to him to give him credit started like a decade 17 00:00:58,640 --> 00:01:00,160 ago. You know he tried to give 10 18 00:01:00,160 --> 00:01:04,160 those, you know supposedly those 10,000 Bitcoin to Alex Jones 19 00:01:04,360 --> 00:01:06,120 right. He was trying to orange pill tin 20 00:01:06,120 --> 00:01:09,080 pull from the very beginning but you know number go up does 21 00:01:09,080 --> 00:01:11,560 something very interesting and I've noticed this after a while. 22 00:01:11,560 --> 00:01:13,640 It's going to be my 8th year in Bitcoin. 23 00:01:13,720 --> 00:01:17,160 And what I've noticed is you tell people, you know, four or 24 00:01:17,160 --> 00:01:19,480 five years ago, right, And they don't really listen the first 25 00:01:19,480 --> 00:01:23,440 time, but then they start to listen when the number goes up 26 00:01:23,440 --> 00:01:25,760 because you planted that seed. And then they remember, like, 27 00:01:25,760 --> 00:01:29,720 holy crap, Nico told me five years ago, this thing is going 28 00:01:29,720 --> 00:01:33,480 up and then they convert, right? So number go up, does its thing, 29 00:01:33,560 --> 00:01:35,120 right? You, you just got to plant the 30 00:01:35,120 --> 00:01:37,960 seeds, really. So this very interesting. 31 00:01:37,960 --> 00:01:39,160 We're going to talk about that today. 32 00:01:39,160 --> 00:01:43,480 We have all the data and then of course Gary Gensler getting 33 00:01:43,480 --> 00:01:47,840 grilled by the legacy media. So a government official, right. 34 00:01:47,920 --> 00:01:50,960 This is like this is crazy. Bitcoins incentives are are 35 00:01:50,960 --> 00:01:54,200 winning it's it's so funny when you have BlackRock on your side, 36 00:01:54,880 --> 00:01:59,480 the conversation changes but you know you you, you literally saw 37 00:01:59,680 --> 00:02:02,720 Gary Gensler getting grilled on the legacy media and usually 38 00:02:02,720 --> 00:02:05,880 you'd never see this. Usually the legacy media is very 39 00:02:05,880 --> 00:02:08,759 friendly towards, you know, the government narrative or or 40 00:02:08,759 --> 00:02:11,480 government talking points. So I found that very 41 00:02:11,480 --> 00:02:13,640 interesting. So we're gonna get into all this 42 00:02:13,640 --> 00:02:15,160 today. It's gonna be a great 43 00:02:15,360 --> 00:02:17,520 conversation. We also have a very special 44 00:02:17,520 --> 00:02:20,480 guest joining us as well. We have McShane. 45 00:02:20,480 --> 00:02:22,320 Thank you so much for joining us, man. 46 00:02:22,520 --> 00:02:24,240 Appreciate you coming back on the show. 47 00:02:26,120 --> 00:02:27,880 Great to be here, man. I'm excited. 48 00:02:28,320 --> 00:02:30,800 Love what you guys do. It's been a minute and of course 49 00:02:30,800 --> 00:02:33,840 my legendary he's smiling today, so it's gonna be an incredible. 50 00:02:33,840 --> 00:02:35,400 Show Dude, I smile every morning, bro. 51 00:02:35,440 --> 00:02:36,720 You just catch me at the wrong. Time. 52 00:02:36,720 --> 00:02:38,680 No, no. Sometimes you just got like 53 00:02:38,680 --> 00:02:41,120 straight face. And when it's a straight face, 54 00:02:41,120 --> 00:02:43,320 it's just it's. Gonna be a bad day. 55 00:02:43,320 --> 00:02:44,520 It's gonna be a good day. It's a. 56 00:02:44,600 --> 00:02:46,040 Bad omen. It's a bad omen. 57 00:02:46,040 --> 00:02:48,400 Anyways, we're gonna talk about during the culture, homie. 58 00:02:49,120 --> 00:02:52,920 Yeah, so McShane of course Head of programming at the Bitcoin 59 00:02:52,920 --> 00:02:54,520 conference. So we'll touch on that a little 60 00:02:54,520 --> 00:02:57,760 bit, but we kind of teed up a pretty cool conversation for 61 00:02:57,920 --> 00:03:00,160 Bitcoiners out there. You know we are in price 62 00:03:00,160 --> 00:03:02,480 discovery mode. We're trying to get the new 63 00:03:02,480 --> 00:03:05,480 Bitcoiners on board, get their mine rights going into this bull 64 00:03:05,480 --> 00:03:07,120 run. So we're going to kind of touch 65 00:03:07,120 --> 00:03:10,200 on that and then move into what we can look forward to at 66 00:03:10,200 --> 00:03:13,960 Bitcoin conference, you know Bitcoin Asia, Bitcoin Nashville. 67 00:03:13,960 --> 00:03:18,560 So I think we got a solid show, but we will kind of touch on the 68 00:03:18,560 --> 00:03:20,760 ideas of like what new bitcoiners should do. 69 00:03:20,760 --> 00:03:25,040 Because I this is basically why I do the show as well is because 70 00:03:25,040 --> 00:03:28,160 I made every single mistake when I got into Bitcoin and I just 71 00:03:28,160 --> 00:03:30,880 somehow survived it. And this is the point of the 72 00:03:30,880 --> 00:03:33,600 show, is to make sure that people minimize the mistake. 73 00:03:33,600 --> 00:03:37,000 So I think Mcshane's gonna drop some sauce for us today. 74 00:03:37,000 --> 00:03:38,600 I'm I'm super excited for this one. 75 00:03:39,120 --> 00:03:41,560 Yeah, 100%. All right, ladies and gentlemen, 76 00:03:41,560 --> 00:03:43,360 no more delay. Let's jump straight into it. 77 00:03:43,360 --> 00:03:45,200 We have a lot to talk about. Let's check it out. 78 00:03:45,200 --> 00:03:52,440 Here we go the Bitcoin numbers. Is your Bitcoin in cold storage 79 00:03:52,440 --> 00:03:55,440 really secure? Is your seed phrase really 80 00:03:55,440 --> 00:03:56,960 secure? Stamp seeds? 81 00:03:56,960 --> 00:03:59,680 Do it yourself. 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All right everybody. 110 00:05:28,040 --> 00:05:33,320 At the time of recording the Bitcoin price is 52,170 stats 111 00:05:33,320 --> 00:05:37,720 per dollar under 2000. SATS is 1917 block height 112 00:05:37,720 --> 00:05:45,400 830,605 blocks to having 9395 having estimate April 19, 2024 113 00:05:45,600 --> 00:05:50,920 Total Lightning network capacity 4789 Bitcoin capacity value 114 00:05:50,920 --> 00:05:55,440 249,000,000 U.S. dollars. Realize monetary inflation 115 00:05:55,440 --> 00:05:58,960 1.75%. The market capitalization of 116 00:05:58,960 --> 00:06:06,520 Bitcoin $1.02 trillion Bitcoin versus gold market cap 7.43%. 117 00:06:06,720 --> 00:06:09,320 In the grand scheme of things Bitcoin is just getting started. 118 00:06:09,480 --> 00:06:13,320 Quick ETF update. I have AI have a feeling that 119 00:06:13,320 --> 00:06:17,360 the change in tune from the legacy financial media probably 120 00:06:17,360 --> 00:06:20,240 has to do with the fact that BlackRock currently holds 121 00:06:20,240 --> 00:06:25,160 109,000 Bitcoin. The Fidelity ETF is holding 122 00:06:25,160 --> 00:06:27,720 82,000 Bitcoin. And just to kind of give you 123 00:06:27,720 --> 00:06:32,320 guys a reference point, took Michael Saylor really four 124 00:06:32,320 --> 00:06:37,120 years, 3 1/2 years to stack 190,000 Bitcoin BlackRock in a 125 00:06:37,120 --> 00:06:41,280 matter of months, like in a matter of month of a month and 126 00:06:41,280 --> 00:06:44,320 1/2 they stacked 109,000 Bitcoin. 127 00:06:44,800 --> 00:06:47,520 We were, we were telling you guys yesterday about the 128 00:06:47,520 --> 00:06:52,080 incoming supply shock. They're buying more Bitcoin that 129 00:06:52,080 --> 00:06:54,280 is being released onto the market daily. 130 00:06:54,560 --> 00:06:58,600 And not to mention the having is basically in 60 days or so. 131 00:06:58,960 --> 00:07:03,520 So, you know, it looks like all the stars are aligning and you 132 00:07:03,520 --> 00:07:07,680 know, I'm incredibly bullish. Anyways, it's things. 133 00:07:07,720 --> 00:07:11,640 Very interesting things happen when BlackRock is on your team, 134 00:07:11,640 --> 00:07:13,000 right? One of those things is the 135 00:07:13,000 --> 00:07:16,200 legacy financial media changes tune a little bit. 136 00:07:16,400 --> 00:07:20,920 Here is Gary Genzer that absolutely drop the effing ball 137 00:07:20,920 --> 00:07:26,560 with the ETF approval, right? You know the the the the SEC, 138 00:07:26,760 --> 00:07:30,680 Twitter got hacked. They didn't follow their own 139 00:07:30,680 --> 00:07:34,760 procedures about enabling to FA. One of the tweets was really 140 00:07:34,760 --> 00:07:37,680 ironic, 'cause it said like, don't trust any information 141 00:07:37,680 --> 00:07:40,880 unless it comes from the SEC. And the hacked tweet was 142 00:07:40,880 --> 00:07:43,320 basically the Bitcoin ETF got approved. 143 00:07:43,840 --> 00:07:47,600 Then Gary Genzer went out to say, yeah, that tweet did not 144 00:07:47,600 --> 00:07:49,200 come from us, it was compromised. 145 00:07:49,320 --> 00:07:53,640 Then the next day they said, in fact, it actually was approved. 146 00:07:54,360 --> 00:07:56,800 And throughout this whole process, the whole point of the 147 00:07:56,800 --> 00:08:00,840 SEC, you know, is to prosecute or to go after market 148 00:08:00,840 --> 00:08:04,040 manipulation. They manipulated the F out of 149 00:08:04,040 --> 00:08:07,080 the market by not enabling the two FA themselves, right? 150 00:08:07,440 --> 00:08:11,800 So anyways, so here is Gary Genzer going on CNNBC and it's 151 00:08:11,800 --> 00:08:13,960 just interesting, it's an interesting conversation. 152 00:08:13,960 --> 00:08:16,120 So I'm going to play it. It's about 3 minutes and then 153 00:08:16,240 --> 00:08:17,840 we'll, we'll talk about it. Let's check it out. 154 00:08:18,240 --> 00:08:20,120 By regulation. Is is that the problem, though? 155 00:08:20,120 --> 00:08:23,800 It's not necessarily Bitcoin the underlying asset, but more the 156 00:08:23,800 --> 00:08:28,120 froth and the potential for fraudsters to use it that has. 157 00:08:28,120 --> 00:08:32,840 Well, this is a field, Becky. That's been rife with fraud and 158 00:08:32,840 --> 00:08:35,039 manipulation. And look at all the bankruptcies 159 00:08:35,039 --> 00:08:37,799 and you've you've had on this set people talking about those 160 00:08:37,799 --> 00:08:41,760 various bankruptcies and it's not just one entity, it's entity 161 00:08:41,760 --> 00:08:45,520 after entity after entity and then investors are just lining 162 00:08:45,520 --> 00:08:49,960 up in the bankruptcy court. What do you make of this goes to 163 00:08:49,960 --> 00:08:53,600 the underlying piece of this. You've heard Jamie Dimon say 164 00:08:53,600 --> 00:08:56,400 that he would close it down, that basically Bitcoin is. 165 00:08:57,080 --> 00:08:59,400 You've seen the comments, right? It's not just that you closed 166 00:08:59,400 --> 00:09:02,280 down that you would say it's, you know, used by drug dealers 167 00:09:02,280 --> 00:09:04,880 and used by folks who are doing all sorts of illicit and 168 00:09:04,880 --> 00:09:07,760 terrible things. There's very few things that 169 00:09:07,760 --> 00:09:11,680 trade today that people talk about like that. 170 00:09:11,680 --> 00:09:15,040 Now there are obviously frauds and things that happen, but 171 00:09:15,040 --> 00:09:18,400 maybe not like this. Like the dollar is like 100 172 00:09:18,400 --> 00:09:20,600 times more. I know that's your perspective, 173 00:09:20,600 --> 00:09:22,960 but I'm just curious how you think about that. 174 00:09:23,080 --> 00:09:26,680 But that's true though. This is how much has been money 175 00:09:26,680 --> 00:09:28,640 laundered with Bitcoin. This is how much. 176 00:09:28,960 --> 00:09:31,360 This is Bitcoin. This is dollar. 177 00:09:31,360 --> 00:09:33,920 Yes, Joe, look, here's the Jamie Dimon quote. 178 00:09:34,200 --> 00:09:37,480 The only true use case for it is for criminals, drug traffickers, 179 00:09:37,480 --> 00:09:39,600 money laundering, opinion and tax avoidance. 180 00:09:39,840 --> 00:09:41,480 I know, but we have a guess. His opinion. 181 00:09:41,480 --> 00:09:44,280 We have a guest. Joe, what is your opinion and 182 00:09:44,280 --> 00:09:46,920 what is your opinion? That we have something trading 183 00:09:46,920 --> 00:09:51,760 on the exchange for the public that has this type of use case 184 00:09:51,760 --> 00:09:55,560 at least as as described by the president of one of the largest 185 00:09:55,600 --> 00:09:57,120 financial institutions in the company. 186 00:09:57,160 --> 00:10:01,040 It's the leading market share in ransomware and that's publicly 187 00:10:01,040 --> 00:10:03,760 known. You know, it's the it's the, the 188 00:10:03,880 --> 00:10:07,960 token of choice for ransomware. Joe, if I can say the US dollar, 189 00:10:07,960 --> 00:10:13,480 the UR or the yen, you have the whole society using it as a 190 00:10:13,480 --> 00:10:16,680 medium of exchange. We buy our cups of coffee as I 191 00:10:16,680 --> 00:10:20,400 see here. We get paid in dollars or yen or 192 00:10:20,400 --> 00:10:26,400 euro and you have a whole central bank and support for one 193 00:10:26,400 --> 00:10:31,680 currency generally per economic region that we don't have here. 194 00:10:31,680 --> 00:10:35,200 So there is a very real economic difference is part of part of 195 00:10:35,200 --> 00:10:38,560 the attraction since it's decentralized and you can't 196 00:10:38,560 --> 00:10:41,560 have, you can't have a profligate central bank, it's 197 00:10:41,560 --> 00:10:44,400 not that decentralized. I know you're saying because of 198 00:10:44,400 --> 00:10:48,360 the ETS, but really it's not decent and everything because 199 00:10:48,360 --> 00:10:52,960 look how finance tends towards centralization since antiquity. 200 00:10:53,320 --> 00:10:55,760 So what do we have? We have a handful of three to 201 00:10:55,760 --> 00:10:59,160 six core so-called crypto understand. 202 00:10:59,160 --> 00:11:03,480 But the asset itself, the way that the distributed Ledger 203 00:11:03,600 --> 00:11:06,440 right that's how the Ledger and how many times do you have 204 00:11:06,440 --> 00:11:09,680 people on this show that say I want to invest in something 205 00:11:09,680 --> 00:11:12,240 because how the books and records are kept. 206 00:11:12,840 --> 00:11:17,000 I mean Joe really it's just an accounting Ledger a clever it's 207 00:11:17,000 --> 00:11:20,600 a Ledger that everyone has that everyone has and can't be double 208 00:11:20,600 --> 00:11:22,760 counted. It's almost immutable. 209 00:11:22,840 --> 00:11:26,560 That's why people think it has and you trust it more than an 210 00:11:26,560 --> 00:11:29,160 Oracle database or you. Trust A. 211 00:11:30,640 --> 00:11:34,880 Lot of the Bitcoin Bold say they trusted a lot more than and in 212 00:11:34,880 --> 00:11:38,800 the central bank that that that that enables the the fiscal 213 00:11:38,800 --> 00:11:42,880 authorities to spend money to the tune of $33 trillion that's 214 00:11:42,880 --> 00:11:46,080 that's everybody's investment choice but. 215 00:11:47,600 --> 00:11:49,920 Dude, Mick. Shane, you want to hit this 216 00:11:49,920 --> 00:11:54,600 first? Oh man, it's so nice to see. 217 00:11:54,600 --> 00:11:58,480 It's so nice to see that on mainstream television, man and 218 00:11:58,480 --> 00:12:01,200 look at how they try to goad you into more trust. 219 00:12:01,640 --> 00:12:03,280 Look at our look at our central banks. 220 00:12:03,280 --> 00:12:07,600 Look at the look at all the the magical backing and people you 221 00:12:07,600 --> 00:12:11,000 have backing the US dollar and you know they're absolutely 222 00:12:11,000 --> 00:12:12,000 correct. We don't. 223 00:12:13,320 --> 00:12:16,240 The one thing I would say is we it's not that we trust. 224 00:12:16,240 --> 00:12:19,400 With Bitcoin you can you can verify you can minimize all 225 00:12:19,400 --> 00:12:22,400 these third party trust relationships and verify 226 00:12:22,400 --> 00:12:26,920 everything everything yourself and take personal responsibility 227 00:12:27,240 --> 00:12:31,080 for your wealth and have you know money that actually 228 00:12:31,080 --> 00:12:37,360 performs the function of savings. 100% And it it's so 229 00:12:37,360 --> 00:12:40,560 like the IT it it, you know, what's interesting too is that 230 00:12:40,560 --> 00:12:45,200 he taught a class on Bitcoin and he's very well informed on the 231 00:12:45,200 --> 00:12:47,720 matter. And now all of a sudden that he 232 00:12:47,720 --> 00:12:52,840 has, you know, a government job. All of a sudden he's there 233 00:12:53,400 --> 00:12:57,240 defending the current system, which he does terribly because 234 00:12:57,240 --> 00:13:02,120 all he relies on, his arguments are just like there's a central 235 00:13:02,120 --> 00:13:04,880 bank, everyone uses the dollar, everyone's comfortable with it 236 00:13:04,880 --> 00:13:07,080 all. But he's not making the case as 237 00:13:07,080 --> 00:13:12,840 to why the dollar is better. He's not arguing against what 238 00:13:12,880 --> 00:13:15,840 that other gentleman that anchor was saying was basically like, 239 00:13:15,840 --> 00:13:18,800 look, I like the reason that people are attracted to Bitcoin 240 00:13:18,800 --> 00:13:20,600 is because they don't trust the central bank. 241 00:13:20,760 --> 00:13:22,960 He has no excuse. He has no reasoning to that. 242 00:13:22,960 --> 00:13:26,080 Like he he has no explanation. He has no argument against that. 243 00:13:26,320 --> 00:13:30,120 But you know, McShane, we, we've been in Bitcoin for a little 244 00:13:30,120 --> 00:13:31,640 bit. Could you have ever have 245 00:13:31,640 --> 00:13:35,720 imagined this five years ago? Like, you know, this is crazy 246 00:13:35,720 --> 00:13:40,240 how far we've come. I was wondering what the 247 00:13:40,560 --> 00:13:45,680 transition would look like and I'm just, I'm amazed at actually 248 00:13:45,680 --> 00:13:51,840 how UN hostile it's been. That's a pretty like, that's a 249 00:13:51,840 --> 00:13:55,360 pretty lame attempt by Carrie to dissuade people from using 250 00:13:55,360 --> 00:13:57,920 Bitcoin. Once BlackRock and these 251 00:13:57,920 --> 00:14:00,720 institutions are are behind it, I mean they're they're going to 252 00:14:00,720 --> 00:14:05,000 have to change their tune. I'm curious to see where it goes 253 00:14:05,000 --> 00:14:08,160 from here, man. I think my biggest fear is still 254 00:14:08,160 --> 00:14:11,160 that the hostile attack vectors will come in the form of on 255 00:14:11,160 --> 00:14:13,200 ramps and off ramps. So I'm just kind of waiting to 256 00:14:13,200 --> 00:14:15,920 see that play out. You already see that in the UK 257 00:14:16,240 --> 00:14:21,440 cracking asking users to provide physical addresses for wallet 258 00:14:21,440 --> 00:14:25,080 addresses which no one in their right mind should comply with, 259 00:14:25,080 --> 00:14:27,800 by the way. Yeah, it's the the. 260 00:14:28,000 --> 00:14:30,080 So I get what you're saying. I completely agree. 261 00:14:30,080 --> 00:14:32,040 I think there's going to be two attack vectors. 262 00:14:32,440 --> 00:14:36,560 The attack vector #1 is the, you know, the attack on Bitcoin 263 00:14:36,560 --> 00:14:38,360 mining, which I don't think will be successful because the 264 00:14:38,360 --> 00:14:41,640 incentives are just too great. But then the attack on self 265 00:14:41,640 --> 00:14:44,160 custody itself and then they come up with the words unhosted 266 00:14:44,160 --> 00:14:46,320 wallet. I've never read that word that 267 00:14:46,320 --> 00:14:47,800 that word's not in the white paper. 268 00:14:47,800 --> 00:14:50,280 That's a creation by by bureaucrats, right? 269 00:14:51,080 --> 00:14:55,880 Yeah, yeah, it absolutely is. And it's it's hilarious because 270 00:14:55,880 --> 00:15:02,080 that's just it just it brings the surveillance state into the 271 00:15:02,080 --> 00:15:04,440 light. I mean, it's just no, we want to 272 00:15:04,440 --> 00:15:05,840 know everything. We want to know what you're 273 00:15:05,840 --> 00:15:07,880 thinking. We want to know these 12 to 24 274 00:15:07,880 --> 00:15:10,520 words. We know where you are at any 275 00:15:10,520 --> 00:15:12,240 given time. We need to know where all your 276 00:15:12,240 --> 00:15:17,800 money is at any given time. And people sort of, they know 277 00:15:17,800 --> 00:15:19,880 this in the back of their heads that they're making this trade 278 00:15:19,880 --> 00:15:22,520 off convenience. They're trading off their 279 00:15:22,520 --> 00:15:26,000 privacy for convenience. But I think with bitcoiners, 280 00:15:26,000 --> 00:15:29,760 especially new bitcoiners going forward, this will be the first 281 00:15:29,760 --> 00:15:32,600 time they really have to reckon with that and make decisions 282 00:15:32,600 --> 00:15:35,600 about, you know, where they get their Bitcoin, how they store 283 00:15:35,600 --> 00:15:40,760 their Bitcoin, are they willing to resist peacefully and not 284 00:15:40,760 --> 00:15:43,600 comply with with the the laws that are coming our way? 285 00:15:43,600 --> 00:15:45,840 I mean, the laws that are going to make all three of us and 286 00:15:45,840 --> 00:15:47,880 everyone in the audience criminals haven't been written 287 00:15:47,880 --> 00:15:49,560 yet. Yeah. 288 00:15:49,760 --> 00:15:52,960 And you you have no doubt that that because I I see that 289 00:15:52,960 --> 00:15:55,160 inevitable clash coming as well, right? 290 00:15:55,160 --> 00:15:59,120 I I I think the two systems are completely incompatible. 291 00:15:59,480 --> 00:16:02,120 You see this with current US sanction policy, how they 292 00:16:02,120 --> 00:16:05,320 weaponize the dollar if there's an open monetary network. 293 00:16:05,640 --> 00:16:07,800 Right. And you know there's a system of 294 00:16:07,800 --> 00:16:10,440 which you know a bureaucratic elite control. 295 00:16:10,640 --> 00:16:14,080 I don't think those two systems can coexist because people are 296 00:16:14,080 --> 00:16:17,600 just obviously gonna choose the open monetary network every 297 00:16:17,600 --> 00:16:20,880 single time. Which makes Bitcoin obviously, 298 00:16:20,880 --> 00:16:23,120 you know it. It's it makes it prone to 299 00:16:23,120 --> 00:16:24,440 attack. The politicians are gonna 300 00:16:24,440 --> 00:16:26,800 villainize it. You hear the rhetoric coming out 301 00:16:26,800 --> 00:16:29,120 of Elizabeth Warren. She's tried to use the Wall 302 00:16:29,120 --> 00:16:32,320 Street Journal a couple times, basically saying that, you know, 303 00:16:32,320 --> 00:16:35,240 this is being used to circumvent U.S. sanctions, right. 304 00:16:35,880 --> 00:16:38,600 So we've heard that rhetoric as well. 305 00:16:38,600 --> 00:16:41,400 So, but you are convinced, you are convinced that there is 306 00:16:41,400 --> 00:16:45,480 going to come a point where you know of clearly the ETFs are 307 00:16:45,480 --> 00:16:48,160 captured Bitcoin. Clearly that that's prone to a 308 00:16:48,160 --> 00:16:50,120 six 102, right? That's clear. 309 00:16:50,320 --> 00:16:53,480 It's clear as day. But do you believe that it's 310 00:16:53,480 --> 00:16:57,800 inevitable that they just villainize or criminalize self 311 00:16:57,800 --> 00:17:01,840 custody altogether? Yeah, 100%. 312 00:17:01,840 --> 00:17:05,760 I think it's it's the same temptation that there is with 313 00:17:05,760 --> 00:17:08,440 money printing. It's just no no person in power 314 00:17:08,440 --> 00:17:13,440 could resist that that data and exerting that control. 315 00:17:13,440 --> 00:17:18,560 Because what it comes down to is you know their favorite form of 316 00:17:18,560 --> 00:17:22,000 of robbery taxations. You're gonna have a hell of time 317 00:17:22,000 --> 00:17:26,880 collecting from addresses that they can't tie identities to. 318 00:17:28,240 --> 00:17:29,880 So they're they're gonna clamp down on that. 319 00:17:29,880 --> 00:17:32,960 They're gonna arrest all of our our our favorite hosts and 320 00:17:32,960 --> 00:17:35,840 developers of mixing software as many of them are already not 321 00:17:35,840 --> 00:17:38,720 allowed to come to the United States or too terrified to. 322 00:17:39,240 --> 00:17:43,400 So I I I hate to be a a pessimist, but I think it's 323 00:17:43,400 --> 00:17:45,800 gonna get more challenging before it gets better on that 324 00:17:45,800 --> 00:17:47,880 front. And do you think they'll let us 325 00:17:47,880 --> 00:17:52,040 stream from the Gulags, McShane? Like, do you think they'll, you 326 00:17:52,080 --> 00:17:55,960 know, do you think we'll be able to, you know, it'd be a pretty 327 00:17:55,960 --> 00:17:57,400 cool show. What do you think we should call 328 00:17:57,400 --> 00:17:59,120 it? Simply Gulags. 329 00:17:59,760 --> 00:18:03,600 Simply gulags. Yeah, the the Bitcoin 330 00:18:03,600 --> 00:18:08,200 archipelago. Yeah, we're we're going to live 331 00:18:08,200 --> 00:18:10,440 to eat the end, man. That would be great. 332 00:18:11,000 --> 00:18:14,200 Well well to be fair Nico, the gulags will be the best place to 333 00:18:14,200 --> 00:18:16,160 be at cause all the cool people will be there. 334 00:18:16,160 --> 00:18:18,080 So, you know, it might, it might be a good time. 335 00:18:18,080 --> 00:18:19,120 I don't know. They'll put the. 336 00:18:19,120 --> 00:18:23,480 Bitcoiners all in the same bunk. And then, bro, if you put us all 337 00:18:23,480 --> 00:18:25,680 in the same bunk together, I mean like all in the little 338 00:18:25,840 --> 00:18:28,480 gulag house together, we're definitely going to figure out 339 00:18:28,480 --> 00:18:31,760 how to get Internet. Like or get out of the gulag. 340 00:18:33,440 --> 00:18:35,520 The greatest Have you guys seen that movie, by the way? 341 00:18:35,600 --> 00:18:37,760 Yeah, great movie. That movie's incredible. 342 00:18:38,160 --> 00:18:39,040 You haven't seen the great scene? 343 00:18:40,080 --> 00:18:43,640 The Great Escape. McShane hasn't seen McQueen. 344 00:18:43,640 --> 00:18:45,120 Amazing. Yeah, it's. 345 00:18:45,120 --> 00:18:46,880 An old movie, but it's incredible. 346 00:18:46,880 --> 00:18:52,120 It's essentially like World War 2US prisoners of war trying to 347 00:18:52,120 --> 00:18:56,360 escape German POW camps. And it's incredible. 348 00:18:56,440 --> 00:18:57,920 It's an old movie, but it's a classic. 349 00:18:58,400 --> 00:19:02,400 Anyways, uh Opti, what's your take on on UH on Gensler? 350 00:19:02,840 --> 00:19:05,680 Yeah. So like you guys were saying and 351 00:19:05,680 --> 00:19:08,360 I'm I'm, you know, might might reiterate some of the stuff, but 352 00:19:08,360 --> 00:19:12,640 it is very interesting to see Gary Gensler squirm on Squawk 353 00:19:12,640 --> 00:19:17,000 Box considering that he did teach a course at MIT on Bitcoin 354 00:19:17,000 --> 00:19:20,440 and quote UN quote blockchain. And I think Chris, our boy Chris 355 00:19:20,440 --> 00:19:23,920 Alamo hit the nail on the head when he says Gary Gensler wants 356 00:19:23,920 --> 00:19:26,640 to be the Treasury Secretary. So he has to bend the need to 357 00:19:26,640 --> 00:19:28,480 get that. And we're seeing this happen in 358 00:19:28,480 --> 00:19:30,760 real time and shouts out the Joe Kern. 359 00:19:30,760 --> 00:19:34,000 He is by far my favorite Bitcoin podcaster ever. 360 00:19:34,000 --> 00:19:37,280 He's such a legend. Just love to see him put Gary 361 00:19:37,280 --> 00:19:40,520 Ganzer feet to the fire. It's such an awesome thing to 362 00:19:40,520 --> 00:19:41,480 see, you know? I'm not. 363 00:19:41,560 --> 00:19:43,800 I don't watch news, I don't watch corporate press. 364 00:19:43,800 --> 00:19:47,880 But every time I see Joe Kern, it's just it's always a great 365 00:19:47,880 --> 00:19:49,880 clip. And then you know some of the 366 00:19:49,880 --> 00:19:52,560 things that Gary Genser said there, like Gary Genser's a big 367 00:19:52,560 --> 00:19:55,480 blocker confirmed like McAfee purchases like. 368 00:19:55,920 --> 00:19:56,800 What? What year? 369 00:19:56,800 --> 00:19:58,640 Are we in? We're going back in time with 370 00:19:58,640 --> 00:20:01,320 this Bitcoin FUD. It's absolutely incredible. 371 00:20:01,320 --> 00:20:04,160 And there was a point there and McShane touched on that and I 372 00:20:04,160 --> 00:20:06,240 and I want to hit on it as well because we were talking about it 373 00:20:06,240 --> 00:20:08,520 yesterday. You know Gary Genser said that 374 00:20:08,760 --> 00:20:11,440 Bitcoin is quote UN quote centralized because of the few 375 00:20:11,440 --> 00:20:14,360 exchanges. And remember last year when we 376 00:20:14,360 --> 00:20:17,080 were covering Choke .2, Point O like all year. 377 00:20:17,320 --> 00:20:19,960 And this is kind of what Gary Ganser was saying there. 378 00:20:19,960 --> 00:20:22,280 He's like, look, you can shut down Bitcoin if you shut down 379 00:20:22,280 --> 00:20:24,280 the on and off ramps. And we've been talking about 380 00:20:24,280 --> 00:20:27,280 this constantly. And he basically just like slid 381 00:20:27,280 --> 00:20:29,160 over that and just kind of slid that in there and was like, 382 00:20:29,160 --> 00:20:32,600 yeah, you know, like, hey, Bitcoin can be shut down because 383 00:20:32,600 --> 00:20:35,280 of exchanges. Now it's very interesting. 384 00:20:35,280 --> 00:20:38,560 Obviously, I think he's doing a little bit of gaslighting here 385 00:20:38,560 --> 00:20:41,880 because if he did study Bitcoin, then he knows that exchanges do 386 00:20:41,880 --> 00:20:44,440 not equal the Bitcoin network at large. 387 00:20:44,760 --> 00:20:49,000 And so, you know, Gary, yes, this is, you know, I don't even 388 00:20:49,000 --> 00:20:51,720 want to use the word trust. But like, This is why we like 389 00:20:51,720 --> 00:20:55,480 Bitcoin, because it is, it is a decentralized accounting Ledger 390 00:20:55,480 --> 00:20:58,440 that anyone can opt into, that everyone can survey on. 391 00:20:58,440 --> 00:21:00,480 Everyone can audit if they run a node. 392 00:21:00,480 --> 00:21:02,840 Like This is why we love Bitcoin. 393 00:21:02,840 --> 00:21:06,560 And yes, Gary, we do trust Bitcoin way more than in Oracle. 394 00:21:06,720 --> 00:21:09,760 Like what, what kind of what? What is he even talking about? 395 00:21:09,760 --> 00:21:13,320 You can just tell that he really does want that job as a Treasury 396 00:21:13,320 --> 00:21:16,560 Secretary. And again, just using that word, 397 00:21:16,560 --> 00:21:22,200 trust, like I don't like to use it, but we trust Bitcoin because 398 00:21:22,200 --> 00:21:24,440 we can verify the network with our nodes. 399 00:21:24,440 --> 00:21:26,840 This is a feature, not a bug Gary. 400 00:21:27,040 --> 00:21:33,200 And you can just tell that he is kind of a yeah, yeah, that's a 401 00:21:33,280 --> 00:21:36,000 great way of saying it. But you know at times for a 402 00:21:36,000 --> 00:21:38,400 while they're sorry Mitchell, not to cut you off last point. 403 00:21:38,400 --> 00:21:41,240 Like at times I was kind of leaning towards the idea that 404 00:21:41,240 --> 00:21:44,440 Gary Genser is a maxi and hence why he took so long to delay the 405 00:21:44,520 --> 00:21:47,720 spot Bitcoin ETF so that, you know, we don't have to prove all 406 00:21:47,720 --> 00:21:53,040 these shit coin ETFs. But now, yeah, you know, I've 407 00:21:53,040 --> 00:21:56,760 asked the question before on the show like who is Gary playing 408 00:21:56,760 --> 00:21:58,880 cover for? And I I think it's becoming very 409 00:21:58,880 --> 00:22:02,000 obvious that he's, he's playing cover for someone and you can 410 00:22:02,040 --> 00:22:04,120 read between the lines here, but McShane jump in. 411 00:22:05,280 --> 00:22:07,920 I was just going to say that that Gary's in a lose, lose 412 00:22:08,160 --> 00:22:10,000 position here. He's going to have egg on his 413 00:22:10,000 --> 00:22:14,600 face for the rest of his life and he's this is unwinnable 414 00:22:14,600 --> 00:22:16,760 battle he's been trying to forge and balance. 415 00:22:16,760 --> 00:22:19,960 He's been trying to find and I don't know if you will see him 416 00:22:19,960 --> 00:22:23,360 become Treasury Secretary. I think it's more likely he gets 417 00:22:24,520 --> 00:22:26,160 you know goes to the private sector. 418 00:22:26,800 --> 00:22:29,800 I believe in the past he wanted he tried to join the finance 419 00:22:29,800 --> 00:22:32,800 board. I mean he's he's definitely 420 00:22:32,800 --> 00:22:37,080 interested in getting in on the side of light and good, but I 421 00:22:37,080 --> 00:22:39,320 don't know what it is that keeps him working for the government, 422 00:22:39,320 --> 00:22:42,360 to be honest. Yeah, but it it it's it's it's 423 00:22:42,360 --> 00:22:44,440 it's interesting, 'cause you know it. 424 00:22:44,440 --> 00:22:48,600 It's like we know he knows better, but because of his job, 425 00:22:48,600 --> 00:22:51,920 he's willing to lie. And then that goes to a bigger 426 00:22:51,920 --> 00:22:55,400 question, which is if the government, you know, the the 427 00:22:55,400 --> 00:22:58,640 old Abraham Lincoln, you know, quote or speech, right? 428 00:22:58,640 --> 00:23:01,240 Like if it's a government by the people, for the people. 429 00:23:01,720 --> 00:23:05,720 But clearly under central banking and Fiat, I don't think 430 00:23:05,720 --> 00:23:07,800 it's a government by the people, for the people. 431 00:23:07,800 --> 00:23:10,600 I think it's a government by the government for the government as 432 00:23:10,600 --> 00:23:13,920 long as there's a central bank. I I I really see that. 433 00:23:13,920 --> 00:23:16,880 And and you see it the way that Elizabeth Warren behaves, the 434 00:23:16,880 --> 00:23:20,080 way that Gary Gensler behaves like even if there's an 435 00:23:20,080 --> 00:23:24,320 alternative system that will benefit the vast majority of 436 00:23:24,320 --> 00:23:28,560 Americans, he's willing to argue for the system that benefits the 437 00:23:28,560 --> 00:23:31,960 politicians in the bureaucratic elite right, which I find very 438 00:23:31,960 --> 00:23:34,480 interesting. But you know, I love Bitcoin in 439 00:23:34,480 --> 00:23:37,520 that in in that sense that, you know, it exposes incentives. 440 00:23:37,520 --> 00:23:40,840 And I think you know that interview it was, it was no 441 00:23:40,840 --> 00:23:41,880 different. It was exposed. 442 00:23:42,800 --> 00:23:45,920 I want to I want to double down on your meme there. 443 00:23:46,440 --> 00:23:49,760 The government that we are currently find ourselves in is a 444 00:23:49,760 --> 00:23:52,880 government for the shadow government, not for the people. 445 00:23:53,240 --> 00:23:55,280 The administrative state, I mean, it's not really shadow 446 00:23:55,280 --> 00:23:56,520 government. It's the administrative state. 447 00:23:56,520 --> 00:23:57,640 It's right up, right up in your face. 448 00:23:57,640 --> 00:23:59,680 Speaking of it, I made this meme. 449 00:23:59,680 --> 00:24:01,680 What do you mean we don't control the media anymore? 450 00:24:01,960 --> 00:24:04,040 It's interesting what happens when you have Black Rock on your 451 00:24:04,040 --> 00:24:05,880 side. All right, guys, no more delay. 452 00:24:05,880 --> 00:24:07,240 Let's jump straight into the news. 453 00:24:07,240 --> 00:24:08,560 We have a lot to talk about. Let's check it out. 454 00:24:08,560 --> 00:24:12,080 Here we go. I want to give a shout out to 455 00:24:12,080 --> 00:24:14,080 our sponsor. Have you ever wanted to get into 456 00:24:14,080 --> 00:24:15,880 Bitcoin mining and don't know where to start? 457 00:24:15,880 --> 00:24:19,640 That's why I want to introduce you to Scott's Build a Mine boot 458 00:24:19,640 --> 00:24:21,880 Camp. He will show you how to build 459 00:24:22,000 --> 00:24:25,120 your own Bitcoin mine, how to get the project funded, how to 460 00:24:25,120 --> 00:24:28,400 get your facility filled with miners as quickly as possible. 461 00:24:28,640 --> 00:24:31,360 With a little luck and by putting all his techniques and 462 00:24:31,360 --> 00:24:33,920 strategies to work that he's developed mining Bitcoin for the 463 00:24:33,920 --> 00:24:36,800 last six years. 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It's self custody done right. 474 00:25:17,520 --> 00:25:21,080 They built a premium grade hardware wallet called Passport 475 00:25:21,280 --> 00:25:24,160 right here in the US. It's fully open source and 476 00:25:24,160 --> 00:25:26,840 verifiable. It's the most intuitive Bitcoin 477 00:25:26,840 --> 00:25:30,720 wallet designed with the UX reminiscent of a simple feature 478 00:25:30,720 --> 00:25:33,560 phone so you will know how to navigate it and use it the 479 00:25:33,560 --> 00:25:36,840 moment you pick it up. Get your Bitcoin off exchanges 480 00:25:36,840 --> 00:25:39,600 and into your into your own hands in just a few minutes. 481 00:25:39,600 --> 00:25:42,880 Experience a Peace of Mind that comes with taking ownership of 482 00:25:42,880 --> 00:25:45,600 your own keys. After a massive sell out during 483 00:25:45,600 --> 00:25:49,640 Bitcoin Miami 2023, the passport is back in stock at 484 00:25:49,640 --> 00:25:52,640 foundationdevices.com. 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Remember guys, we're going to 495 00:26:19,320 --> 00:26:22,040 talk about this with McShane during the culture segment. 496 00:26:22,040 --> 00:26:25,160 Not your keys, not your cheese. So you definitely want to take 497 00:26:25,160 --> 00:26:28,480 back your financial sovereignty by taking self custody. 498 00:26:28,480 --> 00:26:31,480 You can do that with getting yourself a passport by 499 00:26:31,680 --> 00:26:33,440 Foundation. Scan the QR code or check the 500 00:26:33,440 --> 00:26:34,920 link in the video description all. 501 00:26:34,920 --> 00:26:37,040 Right, Nico, wait, we before you go, I don't want to cut you off, 502 00:26:37,080 --> 00:26:40,040 but guys, smash the like button. We have over 400 people on 503 00:26:40,040 --> 00:26:43,800 YouTube, Twitter and Rumble, you know, Shouts out to every single 504 00:26:43,800 --> 00:26:44,920 one of us. Let's push this content. 505 00:26:44,920 --> 00:26:46,280 We love you guys. All right, go, Nico. 506 00:26:46,640 --> 00:26:50,000 Yeah, Smash, dude, we forgot. We forgot to say it yesterday. 507 00:26:50,000 --> 00:26:53,160 Yeah, so if you guys are watching the show, Smash the 508 00:26:53,160 --> 00:26:55,920 Smash the like button really helps with the algos. 509 00:26:56,120 --> 00:26:59,680 If you're watching us on Rumble on X on YouTube, just smash, 510 00:26:59,680 --> 00:27:03,240 Smash, smash the like button. OK, so I do want to talk about 511 00:27:03,240 --> 00:27:06,560 this idea. This idea is called politics is 512 00:27:06,560 --> 00:27:11,320 downstream from culture, that to change politics one must first 513 00:27:11,320 --> 00:27:13,480 change culture. I think it's a really, really 514 00:27:13,480 --> 00:27:15,880 important idea. I do want to read the rest of 515 00:27:15,880 --> 00:27:19,400 this quote because the reason why Steve Bannon was interested 516 00:27:19,400 --> 00:27:22,200 in this is because he believes in the idea of the Bright Bright 517 00:27:22,200 --> 00:27:25,120 doctrine, which is that if you want to change politics, you 518 00:27:25,120 --> 00:27:28,280 first have to change culture because politics flows from 519 00:27:28,280 --> 00:27:30,560 culture. If you want to change culture, 520 00:27:30,880 --> 00:27:34,280 you have to 1st understand what the units of culture are and the 521 00:27:34,280 --> 00:27:37,240 people are the units of culture. So if you want to change 522 00:27:37,240 --> 00:27:40,840 politics, you first have to change people to change culture. 523 00:27:41,000 --> 00:27:45,200 Breitbart considers this idea an important one and often spoke of 524 00:27:45,360 --> 00:27:47,280 it in interview or cited in print. 525 00:27:47,280 --> 00:27:51,320 Now Breitbart and Steve Bannon are very divisive figures, but I 526 00:27:51,320 --> 00:27:55,720 do believe in this idea that if we, if we want to win the 527 00:27:55,720 --> 00:28:00,320 peaceful Bitcoin revolution and referencing Corey Clipson's 528 00:28:00,320 --> 00:28:03,440 article, right, the bright orange future, we need an 529 00:28:03,440 --> 00:28:06,000 intransigent minority in the United States. 530 00:28:06,000 --> 00:28:08,280 You need a a group of people, right? 531 00:28:08,280 --> 00:28:11,440 Roughly, you know, 10 million people in the USA, percentage of 532 00:28:11,440 --> 00:28:15,040 people that are immovable when it comes to Bitcoin. 533 00:28:15,040 --> 00:28:19,400 So if there's any anti Bitcoin legislation right it it's 534 00:28:19,400 --> 00:28:22,480 impossible to pass. And think about it basically 535 00:28:22,480 --> 00:28:24,480 like the gun laws in the US, right? 536 00:28:24,920 --> 00:28:28,440 A lot of people hate guns in the US but because such a large 537 00:28:28,480 --> 00:28:31,920 percentage of the population own guns, it's incredibly difficult 538 00:28:32,120 --> 00:28:36,440 to pass anti gun legislation. So if we wanna stay in the US, 539 00:28:36,560 --> 00:28:40,600 if we wanna hold it down as a first generation American, and 540 00:28:40,600 --> 00:28:43,760 Opti and I were talking about this before we went on air, you 541 00:28:43,760 --> 00:28:46,720 know, I still, I was sold on this idea that, you know, this 542 00:28:46,720 --> 00:28:49,720 is the land of the, you know, land, home of the brave, land of 543 00:28:49,720 --> 00:28:52,160 the free. Clearly it doesn't look like it 544 00:28:52,160 --> 00:28:55,400 anymore. I'm a little bit more bullish on 545 00:28:55,400 --> 00:28:58,280 the global S these days. You know, go back to Latin 546 00:28:58,280 --> 00:28:59,360 America. So be it. 547 00:28:59,600 --> 00:29:00,920 But I'm going to try to hold it down. 548 00:29:00,920 --> 00:29:03,440 We're going to try to hold it down in the US for as long as 549 00:29:03,440 --> 00:29:05,040 possible. And if we want to do that, we 550 00:29:05,040 --> 00:29:07,640 have to take over the culture. And what bitcoiners have to 551 00:29:07,640 --> 00:29:11,440 understand, ladies and gentlemen, is that we are in an 552 00:29:11,440 --> 00:29:13,280 information war. We really are. 553 00:29:13,400 --> 00:29:19,120 And I'm going to quote this amazing article dropped by our 554 00:29:19,120 --> 00:29:22,080 friends over at Bitcoin Magazine, written by the 555 00:29:22,080 --> 00:29:24,040 President of El Salvador, Nayeem Bukele. 556 00:29:24,560 --> 00:29:27,280 And the very bottom This is something that we've read to you 557 00:29:27,280 --> 00:29:31,040 guys many, many times, right? Says the most vocal detractors, 558 00:29:31,040 --> 00:29:33,280 the ones who are afraid and pressuring us to reverse our 559 00:29:33,280 --> 00:29:35,520 decision of the world's most powerful elites and the people 560 00:29:35,520 --> 00:29:37,000 who work for or benefit from them. 561 00:29:37,000 --> 00:29:39,240 They used to own everything. In a way they still do the 562 00:29:39,240 --> 00:29:42,080 media, the banks, the NGOs, the international organizations, and 563 00:29:42,080 --> 00:29:44,200 almost all the governments and corporations in the world. 564 00:29:44,440 --> 00:29:46,880 And with that, of course, they own the armies, the loans, the 565 00:29:46,880 --> 00:29:49,000 money supply, the credit ratings, the narrative, the 566 00:29:49,000 --> 00:29:51,080 propaganda, the factories, the food supply. 567 00:29:51,360 --> 00:29:54,560 They control international trade and international law, But their 568 00:29:54,560 --> 00:29:59,400 most powerful weapon is the control of quote the truth, 569 00:29:59,400 --> 00:30:01,360 right. So we are a narrative trench 570 00:30:01,360 --> 00:30:03,840 warfare. We have to win over the hearts 571 00:30:03,840 --> 00:30:06,360 and minds of people. We have to convince them that 572 00:30:06,360 --> 00:30:08,200 it's not left versus right, right. 573 00:30:08,520 --> 00:30:12,040 It's not red versus blue. It's, you know, it's the party 574 00:30:12,040 --> 00:30:14,520 of green, the party of Fiat, central bank, digital 575 00:30:14,520 --> 00:30:18,040 currencies, nihilism, poverty, slavery versus the party of 576 00:30:18,040 --> 00:30:21,520 orange, the party of freedom, prosperity, optimism, hope, 577 00:30:21,680 --> 00:30:24,080 opportunity. That's really the battle at 578 00:30:24,080 --> 00:30:26,600 hand. And to win that battle we must 579 00:30:26,600 --> 00:30:28,720 win over the culture. This is something that we try to 580 00:30:28,720 --> 00:30:31,160 do it simply Bitcoin. And of course, you know, our 581 00:30:31,160 --> 00:30:34,000 friends over at Bitcoin Magazine do this as well with their 582 00:30:34,000 --> 00:30:39,160 incredible conference inviting. You know, Vivek Ramaswamy, Tulsi 583 00:30:39,160 --> 00:30:43,160 Gabbard, RFK Junior, Jordan Peterson made an appearance. 584 00:30:43,160 --> 00:30:46,880 I think it was Bitcoin 2022. So it's those types of 585 00:30:46,880 --> 00:30:50,520 individuals that are outside of the Bitcoin echo chamber and 586 00:30:50,520 --> 00:30:54,360 they have massive followings outside of the Bitcoin echo 587 00:30:54,360 --> 00:30:57,560 chamber that are these are massive cultural figures, they 588 00:30:57,560 --> 00:31:00,280 have a big voice. So when they say something like 589 00:31:00,480 --> 00:31:05,520 CDC's are bad and Bitcoin is good, they have a much wider 590 00:31:05,520 --> 00:31:09,240 audience than us Bitcoin content creators that really make 591 00:31:09,240 --> 00:31:11,600 Bitcoin content for other bitcoiners. 592 00:31:11,920 --> 00:31:14,200 So this is Tim Poole. We've talked to you guys about 593 00:31:14,200 --> 00:31:17,760 him before and he's fully orange pilled at this point. 594 00:31:17,920 --> 00:31:21,680 He's a bitcoiner at this point, you know, he was told, I mean 595 00:31:21,680 --> 00:31:24,320 I'll I'll read you his tweet from himself, you know, read it 596 00:31:24,320 --> 00:31:27,800 from the horses mouth itself. I forget how you say that 597 00:31:27,800 --> 00:31:33,440 expression precisely, but you know something's crazy. 598 00:31:33,560 --> 00:31:37,520 When you were first told about Bitcoin and Bitcoin was at a 599 00:31:37,520 --> 00:31:42,040 dollar or a couple cents and you don't listen and you wait and 600 00:31:42,040 --> 00:31:46,680 then you see it at 52,000, that tends to convert you very, very 601 00:31:46,680 --> 00:31:49,120 quickly. And that's something that, you 602 00:31:49,120 --> 00:31:51,120 know, he started to admit yesterday. 603 00:31:51,320 --> 00:31:54,520 And I'm sure because he finally bought in, he finally listened, 604 00:31:54,520 --> 00:31:55,840 right. This is some, this is someone 605 00:31:55,840 --> 00:31:58,720 who was told by Max Kaiser I think like a decade ago. 606 00:31:59,560 --> 00:32:03,720 So here's Tim Poole, massive following on YouTube, multiple 607 00:32:03,720 --> 00:32:06,720 channels with over millions of subscribers on Twitter. 608 00:32:06,720 --> 00:32:10,520 He's a massive personality. This is a big cultural figure in 609 00:32:10,520 --> 00:32:12,520 the US. He's one of the biggest podcast 610 00:32:12,520 --> 00:32:16,200 right now, mainstream podcast. So he goes on to say your one 611 00:32:16,200 --> 00:32:19,080 year return on Bitcoin is about 133%. 612 00:32:19,160 --> 00:32:23,560 Your five year return on Bitcoin is 1163%. 613 00:32:23,880 --> 00:32:32,560 Your 10, excuse me, your 10 year return is 15,937% USD. 614 00:32:32,600 --> 00:32:37,680 Ten year return is -30% Ladies and gentlemen, that is him being 615 00:32:37,680 --> 00:32:40,640 orange pilled and here's him describing the story. 616 00:32:41,000 --> 00:32:42,920 I first got into Bitcoin in 2011. 617 00:32:42,920 --> 00:32:46,560 It was about $0.70. I sold about 20 Bitcoin when it 618 00:32:46,560 --> 00:32:50,880 hit $20 and I was stoked. Bitcoin skyrocketed after that. 619 00:32:51,200 --> 00:32:55,880 I remember thinking, damn, when it hit $100 and eventually I 620 00:32:55,880 --> 00:32:59,640 thought, fuck it, maybe I missed the train on this one, but I'll 621 00:32:59,640 --> 00:33:04,080 just buy a bunch. Anyway, Bitcoin is now $51,000. 622 00:33:04,240 --> 00:33:07,360 I am very happy. And ladies and gentlemen, this 623 00:33:07,360 --> 00:33:10,640 is what happens, right? And look, just because we're at 624 00:33:10,640 --> 00:33:14,640 52,000 and a lot of people might be thinking the same thing, just 625 00:33:14,640 --> 00:33:17,440 just look into the past, right? If you don't learn from the 626 00:33:17,440 --> 00:33:19,200 past, you're destined to repeat it, right? 627 00:33:19,880 --> 00:33:24,120 You know, 52,000 in 10 years when Bitcoin sitting pretty at a 628 00:33:24,120 --> 00:33:28,000 couple $1,000,000 is going to look like $20. 629 00:33:28,000 --> 00:33:32,040 It's going to look like $0.70. So yeah, it might be a massive 630 00:33:32,040 --> 00:33:35,520 number psychologically, but you got to look at the past if if 631 00:33:35,520 --> 00:33:38,040 you don't want to repeat it. So this is a big deal. 632 00:33:38,040 --> 00:33:42,480 This is a big cultural figure that, you know, that's that's a 633 00:33:42,480 --> 00:33:44,720 bitcoiner. And he's going to continue 634 00:33:44,720 --> 00:33:47,840 advocating for Bitcoin. Not only on his Twitter, he's 635 00:33:47,840 --> 00:33:52,400 done that on his very, very popular show as well on the Tim 636 00:33:52,400 --> 00:33:56,640 Cast IRL. He's basically said when the 637 00:33:56,640 --> 00:33:59,160 First Republic Bank failed, he's like, look, these banks are 638 00:33:59,160 --> 00:34:01,280 going to crap. I'm just happy that I have 639 00:34:01,280 --> 00:34:04,880 Bitcoin right. If more mainstream figures say 640 00:34:04,880 --> 00:34:07,920 that, you know, Tucker Carlson, also a huge advocate of Bitcoin, 641 00:34:08,040 --> 00:34:10,520 RFK Junior, also a big advocate of Bitcoin. 642 00:34:10,679 --> 00:34:14,080 The more people do that, the more we went over the culture. 643 00:34:14,080 --> 00:34:16,120 The more we went over the culture, we're not going to have 644 00:34:16,120 --> 00:34:18,960 a problem with the one with with the politics and the monetary 645 00:34:18,960 --> 00:34:22,239 demons like I like to call them. Anyways, here's a clip from his 646 00:34:22,400 --> 00:34:25,120 very famous podcast referencing the subject. 647 00:34:25,800 --> 00:34:29,320 You later seized First Republic Bank and struck a deal to sell 648 00:34:29,320 --> 00:34:34,120 the bulk of its operations to JP Morton Chase and Co, heading off 649 00:34:34,600 --> 00:34:37,199 a chaotic collapse that threatened to reignite the 650 00:34:37,199 --> 00:34:40,800 recent banking crisis. Yet dude, you stuffed a lot of 651 00:34:40,800 --> 00:34:43,400 toilet paper in the hole. I don't think you're you're 652 00:34:43,400 --> 00:34:46,080 stopping the waters. JP Morgan said it will assume 653 00:34:46,080 --> 00:34:50,560 all of First Republic's $92 billion in deposits, insured and 654 00:34:50,560 --> 00:34:53,080 uninsured. It is also buying most of the 655 00:34:53,080 --> 00:34:57,600 bank's assets, including about $173 billion in loans and $30 656 00:34:57,600 --> 00:35:02,120 billion in securities dollars. JP Morgan's going to blow up. 657 00:35:02,120 --> 00:35:04,640 What? How can you assume loans? 658 00:35:04,720 --> 00:35:08,400 Bad loans from bad bank. They're trying to slow this 659 00:35:08,400 --> 00:35:10,560 thing down. As part of the agreement, the 660 00:35:10,560 --> 00:35:13,520 Federal Deposit Insurance Corp will share losses with JP Morgan 661 00:35:13,520 --> 00:35:15,520 on First Republic's loans. You see, there they go. 662 00:35:16,040 --> 00:35:19,000 The agency estimated that it's insurance fund would take a hit 663 00:35:19,000 --> 00:35:22,400 of $13 billion in the deal. JP Morgan also said it would 664 00:35:22,400 --> 00:35:27,440 receive $50 billion in financing from the FDIC. the US government 665 00:35:27,560 --> 00:35:31,480 is propping up this deal because the system is imploding. 666 00:35:32,640 --> 00:35:35,200 I can't tell you what to do. I'll tell you what I'm going to 667 00:35:36,040 --> 00:35:37,480 do. I'm, I'm, I'm about Bitcoin. 668 00:35:38,120 --> 00:35:41,080 I already got some. I've been buying some recently. 669 00:35:41,600 --> 00:35:43,400 That's all you got to know. That's all you got to know. 670 00:35:43,800 --> 00:35:46,240 Now connect that with like you. See, people watch that. 671 00:35:46,400 --> 00:35:49,000 How many people watch? That dude, his video, he gets 672 00:35:49,000 --> 00:35:53,320 like 250,300 thousand 500,000 views per episode. 673 00:35:53,520 --> 00:35:56,320 And the fact that he said that now, okay cuz we gotta connect 674 00:35:56,320 --> 00:35:58,000 the dots. We're on simply Bitcoin after 675 00:35:58,000 --> 00:35:59,520 all. Connect that with the legacy 676 00:35:59,520 --> 00:36:03,360 financial media and literally him destroying Gary Gensler 677 00:36:03,360 --> 00:36:05,680 because Gary Gensler was trying to feed him the BS. 678 00:36:05,920 --> 00:36:09,160 People are sick and tired. The echo chamber is breaking. 679 00:36:09,160 --> 00:36:10,320 We are winning. We are. 680 00:36:10,520 --> 00:36:13,400 We are making progress. This is what it's all about. 681 00:36:13,400 --> 00:36:15,680 This is what winning over the culture is all about. 682 00:36:15,880 --> 00:36:18,840 This is what winning over the hearts and minds is all about. 683 00:36:18,840 --> 00:36:21,040 So take agency. Take action. 684 00:36:21,400 --> 00:36:24,800 It's up to you, the individual. Spread the orange gospel. 685 00:36:24,800 --> 00:36:28,120 It's not left verse, right? You know, don't get lost in the 686 00:36:28,120 --> 00:36:30,600 sauce with the divide and conquer strategy of these 687 00:36:30,600 --> 00:36:32,080 politicians. Really. 688 00:36:32,080 --> 00:36:35,120 Bitcoin is a great unifier. So tell people, Listen guys, 689 00:36:35,320 --> 00:36:37,040 it's not, it's not the Democrats, it's not the 690 00:36:37,040 --> 00:36:38,840 Republican. It's it's the money that's 691 00:36:38,840 --> 00:36:40,440 broken. If you fix the money, you fix 692 00:36:40,440 --> 00:36:41,640 the world. All right, I'm going to pass it 693 00:36:41,640 --> 00:36:44,800 on to McShane first. McShane, what are your thoughts 694 00:36:44,800 --> 00:36:47,000 on this? I know you guys do incredible 695 00:36:47,000 --> 00:36:50,560 work at Bitcoin Magazine with the Bitcoin conference to really 696 00:36:50,560 --> 00:36:56,200 get these individuals outside of the Bitcoin echo chamber to talk 697 00:36:56,200 --> 00:36:58,560 at the conference. And I know that you guys planned 698 00:36:58,560 --> 00:37:03,720 the conference this year strategically around two other 699 00:37:03,720 --> 00:37:06,320 certain types of two other conferences. 700 00:37:06,320 --> 00:37:08,480 I don't know if I don't know if you know what I'm referencing. 701 00:37:11,280 --> 00:37:12,640 No. What do you mean? 702 00:37:13,120 --> 00:37:15,600 It's what Nolan always says. So, so Nolan was saying. 703 00:37:15,600 --> 00:37:18,480 But basically, it's the Bitcoin Conference is in between the 704 00:37:18,480 --> 00:37:22,160 Democratic convention and the Republican convention, and the 705 00:37:22,200 --> 00:37:24,240 Bitcoin conference is right in the middle. 706 00:37:24,800 --> 00:37:28,920 This is a huge opportunity this year to have real conversations 707 00:37:28,920 --> 00:37:31,080 that are uncensored with politicians. 708 00:37:31,080 --> 00:37:33,160 And I don't want to, I don't want to leak any, you know, 709 00:37:33,160 --> 00:37:36,120 speakers we haven't announced yet, but those conversations 710 00:37:36,120 --> 00:37:38,840 will be happening in Nashville this year, right, between the 711 00:37:38,840 --> 00:37:43,920 R&C&D&C, interesting enough. It's so beautiful to see the 712 00:37:43,920 --> 00:37:48,240 network effect play out in full force, like as the price rises. 713 00:37:48,240 --> 00:37:51,320 I mean this, this sort of game theory of Bitcoin is something 714 00:37:51,960 --> 00:37:54,800 that's it's not only a prediction, like it's a truth. 715 00:37:54,800 --> 00:37:56,640 You can watch it. There are many examples of it 716 00:37:56,840 --> 00:38:00,160 throughout our society. And one small example of such is 717 00:38:00,160 --> 00:38:03,240 I used to have to chase Tim Poole to try to hey, you know 718 00:38:03,240 --> 00:38:05,800 come to the conference, let's let's figure something out. 719 00:38:05,800 --> 00:38:07,280 Come to your show at the conference. 720 00:38:07,800 --> 00:38:09,160 It never really worked out in the past. 721 00:38:09,400 --> 00:38:13,880 This year they came to us. So he's he is, yeah, yeah, yeah. 722 00:38:13,880 --> 00:38:17,320 He's getting he's getting excited about Bitcoin, which is 723 00:38:17,320 --> 00:38:20,160 great to see. It's good for everybody, even if 724 00:38:20,160 --> 00:38:23,680 they're you're just one of those 250,000 viewers of one episode 725 00:38:23,680 --> 00:38:25,240 and you get your first touch point. 726 00:38:26,200 --> 00:38:28,600 I think we all remember our first, second, third touch 727 00:38:28,600 --> 00:38:31,520 points with Bitcoin. Some people take hundreds, some 728 00:38:31,520 --> 00:38:34,680 people take just, you know, a dozen little interactions with 729 00:38:34,680 --> 00:38:36,880 it throughout their life. But you got to remember, most 730 00:38:36,880 --> 00:38:41,400 people have no idea what what it really is. 731 00:38:41,400 --> 00:38:44,480 They don't have a very deep understanding of it. 732 00:38:44,480 --> 00:38:47,800 So getting it just in front of their face as many times as 733 00:38:47,800 --> 00:38:50,400 possible, I mean, we've got to be our own marketing campaign 734 00:38:50,400 --> 00:38:52,520 here. So it's great to have Tim on our 735 00:38:52,520 --> 00:38:56,760 side. 100 percent, 100% Well, I'm, I'm glad that you you 736 00:38:56,760 --> 00:39:01,600 dropped that little nugget because that's and it's so 737 00:39:01,600 --> 00:39:03,480 obvious. It's so obvious too. 738 00:39:03,960 --> 00:39:06,240 But anyways, Opti, what's your take on this dude? 739 00:39:06,520 --> 00:39:09,760 We have been covering this for quite quite a while now. 740 00:39:09,760 --> 00:39:13,880 Almost a year on simply Bitcoin and just to watch him, you know, 741 00:39:13,880 --> 00:39:16,080 cuz he's basically saying like yeah, I bought Bitcoin. 742 00:39:16,320 --> 00:39:19,400 But over a year and a half ago when when you and I first 743 00:39:19,400 --> 00:39:22,840 started covering this Opti, he wasn't as convinced, right? 744 00:39:22,840 --> 00:39:27,440 He was a little bit skeptical. It only took a bank breaking and 745 00:39:27,680 --> 00:39:30,560 Max Kaiser trolling him publicly on Twitter. 746 00:39:31,320 --> 00:39:35,360 You know, for him to really, really convert fully and fully 747 00:39:35,360 --> 00:39:37,560 accept the orange pill. So what's your take, Opti? 748 00:39:38,000 --> 00:39:40,760 Yeah, well, absolutely love it. Love to see it. 749 00:39:40,760 --> 00:39:44,080 And that nugget that McShane just dropped on us, that's very 750 00:39:44,080 --> 00:39:46,480 interesting and absolutely love to see it because we've been 751 00:39:46,480 --> 00:39:49,080 saying for a while, you know, I I fundamentally think that 752 00:39:49,080 --> 00:39:54,520 anyone that is actually in tune with what's going on can 753 00:39:54,520 --> 00:39:57,240 identify the problem. But very few people are talking 754 00:39:57,240 --> 00:40:00,080 about the solutions and now, you know, Tim Poole is a very 755 00:40:00,080 --> 00:40:02,160 popular broadcast. And if he's talking about the 756 00:40:02,160 --> 00:40:04,560 solution, even though he kind of framed like, I can't tell you 757 00:40:04,560 --> 00:40:06,560 what to do, I know what I'm going to do. 758 00:40:06,560 --> 00:40:09,640 Like it just you love to see that signal start to spread out 759 00:40:09,640 --> 00:40:12,000 in every Ave. And I've been saying that this 760 00:40:12,000 --> 00:40:14,840 is one of those things that I think people are really 761 00:40:14,840 --> 00:40:17,880 underestimating. Moving in towards this year and 762 00:40:17,880 --> 00:40:21,760 the next year is just how much Bitcoin has saturated popular 763 00:40:21,760 --> 00:40:24,320 culture. Because look, unfortunately many 764 00:40:24,320 --> 00:40:26,960 people have turned their brains off and just look for 765 00:40:26,960 --> 00:40:30,080 influencers and the experts to make life decisions. 766 00:40:30,240 --> 00:40:33,440 So culture is super important, hence why we name one of our 767 00:40:33,440 --> 00:40:36,440 segments, the daily culture, so that we can propagate what we 768 00:40:36,440 --> 00:40:41,240 believe is not only the best culture, but a culture that will 769 00:40:41,240 --> 00:40:44,000 make you guys rich, healthy and informed. 770 00:40:44,000 --> 00:40:45,560 Like this is the whole point of this show. 771 00:40:45,560 --> 00:40:49,560 I want you guys to be top tier humans and we bring on a bunch 772 00:40:49,560 --> 00:40:53,400 of interesting people. We cover popular culture at 773 00:40:53,400 --> 00:40:57,200 large and always angle this and funnel this through a Bitcoin 774 00:40:57,200 --> 00:40:59,440 lens. And so look, I don't listen to 775 00:40:59,440 --> 00:41:03,760 Temple much, but I do recognize that he has a huge platform and 776 00:41:03,760 --> 00:41:07,280 people do listen to him. So you know, it's absolutely 777 00:41:07,280 --> 00:41:10,280 great to see him basically say, look, I'm doing this and the 778 00:41:10,280 --> 00:41:14,960 250,000 plus viewers are also now thinking, oh wow, you know, 779 00:41:14,960 --> 00:41:18,200 I respect Tin Pools views on everything else. 780 00:41:18,360 --> 00:41:22,040 Maybe I should get some Bitcoin. So you know, Temple is a 781 00:41:22,040 --> 00:41:25,520 political commentator. So hopefully he will continue to 782 00:41:25,520 --> 00:41:28,840 talk about the solutions AKA Bitcoin, and not just always 783 00:41:28,840 --> 00:41:32,080 talk about the problem, but personally Niko, like this is a 784 00:41:32,080 --> 00:41:34,880 great development that we're seeing and I think we're going 785 00:41:34,880 --> 00:41:38,840 to see more and more people go this route because look, we say 786 00:41:38,840 --> 00:41:41,640 it all the time. There is no way to vote out of 787 00:41:41,640 --> 00:41:44,920 this position we're in unless you're voting with your money 788 00:41:44,920 --> 00:41:49,400 like number go up is the best incentive but you know it means 789 00:41:49,400 --> 00:41:53,280 that we have to also be vigilant and that we're not just here for 790 00:41:53,280 --> 00:41:55,080 the Fiat games. Hence why we tell you guys to 791 00:41:55,080 --> 00:41:57,920 run the nodes custody your Bitcoin plant the seeds of 792 00:41:57,920 --> 00:42:00,400 freedoms and your friends and family and this is how we win 793 00:42:00,400 --> 00:42:04,000 the popular culture but guys like as Tim Poole kind of notice 794 00:42:04,000 --> 00:42:07,120 and and reference like number go up makes our jobs that much 795 00:42:07,120 --> 00:42:09,280 easier. And then and finally we get that 796 00:42:09,280 --> 00:42:12,640 one or two years where we're not just the crazy idiots to our our 797 00:42:12,640 --> 00:42:14,240 friends and family were the geniuses. 798 00:42:14,240 --> 00:42:16,840 So you know This is why we're going to talk about in the 799 00:42:16,840 --> 00:42:20,880 culture with McShane did not really lose our heads here but I 800 00:42:20,880 --> 00:42:23,120 I already tell you guys I'm going to get stupidly bullish 801 00:42:23,120 --> 00:42:26,720 and I'm going to do my best to like not get overly bullish. 802 00:42:27,280 --> 00:42:30,680 But you know this is this is my original sin as a bitcoiner. 803 00:42:30,680 --> 00:42:33,720 I just get so excited when we talk about Bitcoin and the price 804 00:42:33,720 --> 00:42:36,320 goes up and I can finally, you know, flex on my friends and 805 00:42:36,320 --> 00:42:38,360 family like I'm a genius, but you know, stay. 806 00:42:39,080 --> 00:42:40,800 Humble. I'm trying to stay humble. 807 00:42:40,800 --> 00:42:45,280 I'm trying to stay humble. So, so yeah, it it, you know, 808 00:42:45,280 --> 00:42:47,240 but it it's interesting what number go up. 809 00:42:47,240 --> 00:42:50,200 Technology does. And you know, this isn't just 810 00:42:50,200 --> 00:42:53,160 Tim Poole anymore. I played you that clip of that 811 00:42:53,160 --> 00:42:56,680 was him, you know, when the the the Republic Bank collapsed. 812 00:42:57,080 --> 00:43:00,240 But now you have the financial media, you know, going against 813 00:43:00,240 --> 00:43:03,160 government officials that are literally going up to bat with 814 00:43:03,160 --> 00:43:06,760 Bitcoin and saying, yeah, I mean, I think central banking's 815 00:43:06,760 --> 00:43:09,120 a scam. Like I think this Bitcoin thing 816 00:43:09,120 --> 00:43:13,080 is good you know, so we've definitely made progress but 817 00:43:13,080 --> 00:43:14,840 we're not there yet. We haven't won. 818 00:43:15,000 --> 00:43:18,680 We haven't won until there's a Bitcoin flag flying over the 819 00:43:18,680 --> 00:43:21,920 Federal Reserve in Washington DC Well when flying over the 820 00:43:21,920 --> 00:43:25,120 Capitol almost and and we make it into we're gonna talk about 821 00:43:25,120 --> 00:43:28,600 that tomorrow but and we make it into a museum anyways ladies and 822 00:43:28,600 --> 00:43:31,600 gentlemen before we get to the culture and speak with our guest 823 00:43:31,600 --> 00:43:35,600 today McShane I do want to give a shout out to our sponsors. 824 00:43:35,600 --> 00:43:38,680 They're they're the they're the Bitcoin companies that make this 825 00:43:38,680 --> 00:43:41,120 show possible. So first, I do want to give a 826 00:43:41,120 --> 00:43:44,840 shout out to Bitcoin evangelism, planting the seeds for the 827 00:43:44,840 --> 00:43:48,720 decentralized revolution. This is a book by Brian de Mint 828 00:43:48,720 --> 00:43:52,240 and it's an absolute beast of a resource for orange Pilling, no 829 00:43:52,240 --> 00:43:55,200 coiners and all coiners alike. This is a book for bitcoiners 830 00:43:55,200 --> 00:43:57,560 who know Bitcoin but have a hard time explaining it to their 831 00:43:57,560 --> 00:43:59,560 friends. It's a book for Bitcoiners who 832 00:43:59,560 --> 00:44:02,280 are trying to explain Bitcoin only to all coiners. 833 00:44:02,360 --> 00:44:04,640 You could scan the QR code on your screen. 834 00:44:04,760 --> 00:44:07,600 It's available on Amazon for you to purchase right now. 835 00:44:07,600 --> 00:44:10,480 I highly, highly recommend it. All right everybody, let's get 836 00:44:10,480 --> 00:44:11,760 to the culture. Let's do it. 837 00:44:11,760 --> 00:44:19,560 Here we go. The Daily Culture. 838 00:44:25,880 --> 00:44:28,240 Do you want to give a shout out to Kaboom Racks? 839 00:44:28,240 --> 00:44:31,280 It's the most trusted place to buy, sell, and host mining 840 00:44:31,280 --> 00:44:33,120 equipment. You could check out their racks 841 00:44:33,120 --> 00:44:36,640 today by scanning the QR code on your screen, or you could check 842 00:44:36,640 --> 00:44:38,840 the link in the video description or the podcast 843 00:44:38,840 --> 00:44:41,200 description. Once you scan the QR code, it 844 00:44:41,200 --> 00:44:43,720 will take you directly to their Telegram marketplace, where you 845 00:44:43,720 --> 00:44:45,400 can connect with a member of their sales team. 846 00:44:45,400 --> 00:44:47,880 They make purchasing their products easy and transparent, 847 00:44:47,880 --> 00:44:50,480 and you could also sell your mining equipment with them. 848 00:44:50,600 --> 00:44:53,640 You could tap into their vast network of domestic and 849 00:44:53,640 --> 00:44:57,280 international customers when you sell your Bitcoin mining ASICS 850 00:44:57,280 --> 00:44:59,600 with them. This is where I personally buy 851 00:44:59,760 --> 00:45:02,480 my Bitcoin miners. Check out Kaboom racks today. 852 00:45:03,000 --> 00:45:04,320 All right, Opti. Hey Nico, yours. 853 00:45:04,320 --> 00:45:05,760 Say it one more time. Say it one more time. 854 00:45:07,880 --> 00:45:10,360 You know it's it's kind of like a funny story how we got that 855 00:45:10,360 --> 00:45:12,520 sponsor. We like we were at a mining 856 00:45:12,520 --> 00:45:13,880 conference. I forgot what it was, what was 857 00:45:13,880 --> 00:45:15,000 called. It's just called the Mining 858 00:45:15,000 --> 00:45:18,400 conference and Opti and I, we we like, we set up like a a 859 00:45:18,400 --> 00:45:21,280 podcasting thing and we literally said kaboom racks like 860 00:45:21,280 --> 00:45:24,440 200 times. I was in all Kaboom Rats merge 861 00:45:24,440 --> 00:45:26,840 shouts out to Alex. They were just like, giving it a 862 00:45:26,840 --> 00:45:28,880 head stickers all over me and we're just like, kaboom. 863 00:45:29,280 --> 00:45:31,360 We're just like Kaboom Racks and like, can we sponsor you guys? 864 00:45:31,360 --> 00:45:35,600 We're like, OK, sure, love it. That's that's where the Kaboom 865 00:45:35,600 --> 00:45:39,000 Racks guys trolled me and said that Opti is their favorite. 866 00:45:39,000 --> 00:45:41,040 E thought so. Anyways, that's a totally other 867 00:45:41,040 --> 00:45:42,360 story. Oh. 868 00:45:43,640 --> 00:45:47,360 Man, I've got, yeah, Boom Rex, I've got Kaboom, Rex Miners. 869 00:45:47,360 --> 00:45:48,960 I'm very, very happy with that company. 870 00:45:49,160 --> 00:45:52,240 And they might have the best merch in Bitcoin that, But 871 00:45:52,240 --> 00:45:55,280 again, that's another story. All right, McShane, let's let's 872 00:45:55,280 --> 00:45:58,440 go into the conversation that we were talking about before we 873 00:45:58,440 --> 00:46:02,680 went live. I did have a tweet here and I'm 874 00:46:02,680 --> 00:46:04,960 not going to pull it up, but it's basically the idea you 875 00:46:04,960 --> 00:46:06,400 tweeted, I think it was yesterday. 876 00:46:06,400 --> 00:46:09,120 You're like, guys, do you know what happens after the price 877 00:46:09,120 --> 00:46:10,880 goes up? And I asked you before, what 878 00:46:10,880 --> 00:46:12,680 exactly were you talking about, McShane? 879 00:46:12,680 --> 00:46:15,040 And then we'll go into what you think people should be be doing 880 00:46:15,040 --> 00:46:17,280 so that they don't burn themselves this bull run. 881 00:46:19,680 --> 00:46:25,240 Yeah, I think, I think partly just antagonistic to ask that, 882 00:46:25,240 --> 00:46:28,080 but also I think it's an important question. 883 00:46:28,080 --> 00:46:30,680 It's one I didn't ask myself when I encountered, you know, 884 00:46:30,680 --> 00:46:33,720 the first, my first Bitcoin bull run. 885 00:46:33,840 --> 00:46:39,720 Like the plan was, let's get as much Bitcoin as possible, you 886 00:46:39,720 --> 00:46:43,560 know, And I didn't really, it took me a while to think, OK, 887 00:46:43,560 --> 00:46:45,960 how do I secure this? It took me a while. 888 00:46:45,960 --> 00:46:48,600 The problem is the, the, the position that the dollars in 889 00:46:48,640 --> 00:46:52,800 kind of forced us all to become somewhat amateur capital 890 00:46:52,800 --> 00:46:55,000 allocators. So you have to start thinking in 891 00:46:55,000 --> 00:46:59,080 terms of risk and trust. You started to buy your first 892 00:46:59,080 --> 00:47:03,920 Bitcoin and I'm speaking to new retail entrance from like 2020 893 00:47:04,200 --> 00:47:06,520 beyond you. You know you've started to 894 00:47:06,520 --> 00:47:09,960 accrue some savings in Bitcoin. How do you take trust out of 895 00:47:09,960 --> 00:47:14,000 that relationship Maybe you, you know get get out of the ETF, get 896 00:47:14,000 --> 00:47:17,080 in the spot get off exchange. Are you running your own node. 897 00:47:17,080 --> 00:47:19,160 If you're not running your own node you're you're you, you 898 00:47:19,160 --> 00:47:20,480 don't know how much Bitcoin you have. 899 00:47:20,680 --> 00:47:25,400 I'm sorry you know are you do you have a multi sig? 900 00:47:25,400 --> 00:47:30,040 Is your security for your Bitcoin scaling in some 901 00:47:30,040 --> 00:47:34,440 proportion to you know the value that you're trying to secure 902 00:47:34,440 --> 00:47:37,080 there. So I like to you know we give a 903 00:47:37,080 --> 00:47:40,760 good 5% thinking about security for my bitcoins. 904 00:47:40,760 --> 00:47:42,800 Not advice just it's just the number I use. 905 00:47:42,800 --> 00:47:49,480 So am I, you know checking my hardware and software do I have 906 00:47:49,480 --> 00:47:54,480 a a geographic plan are you going to arbitrage jurisdictions 907 00:47:54,480 --> 00:48:00,600 if if the laws in the states become untenable for big corners 908 00:48:00,600 --> 00:48:04,240 that really want to have a trustless relationship with 909 00:48:04,240 --> 00:48:08,040 their funds. If not you should. 910 00:48:08,040 --> 00:48:10,480 I mean you should think you should think long term about 911 00:48:10,600 --> 00:48:13,960 about it might be hard to fathom but you can get there. 912 00:48:13,960 --> 00:48:17,000 You know you can pick up and and and move somewhere else or at 913 00:48:17,000 --> 00:48:19,680 least have another place that you can go should things get so 914 00:48:19,680 --> 00:48:24,560 far as you know you're you're you're being forced to dox your 915 00:48:24,560 --> 00:48:28,480 your receive addresses to the government with with real you 916 00:48:28,480 --> 00:48:31,080 know where your bitcoins actually at. 917 00:48:31,080 --> 00:48:35,320 So I don't know. There's a lot on my mind when it 918 00:48:35,320 --> 00:48:36,960 comes to that. There's a lot to be prepared 919 00:48:36,960 --> 00:48:38,360 for. There's a lot to learn. 920 00:48:38,600 --> 00:48:41,680 It's really daunting. Always recommend small steps but 921 00:48:41,680 --> 00:48:45,600 the two most basic things I think you need to cover are risk 922 00:48:45,600 --> 00:48:47,560 management. You don't want to over leverage 923 00:48:47,560 --> 00:48:49,480 yourself. People get crazy and start 924 00:48:49,480 --> 00:48:53,840 levering, you know, up. You know, mortgage your house to 925 00:48:53,840 --> 00:48:58,560 buy more, more Bitcoin. But you don't want things to get 926 00:48:59,280 --> 00:49:01,520 clawed back from you. You don't want to leave your 927 00:49:01,520 --> 00:49:05,120 Bitcoin on any third party platform. 928 00:49:05,400 --> 00:49:08,960 So you got to cover the basics before you start to, in my 929 00:49:08,960 --> 00:49:13,760 opinion, allocate a percent of your savings. 930 00:49:13,760 --> 00:49:16,480 That's in my cold storage, untouchable Bitcoin. 931 00:49:16,480 --> 00:49:19,880 A small percent of that, or, you know, depending on how 932 00:49:19,880 --> 00:49:22,640 conservative you are, you can start allocating to maybe some 933 00:49:22,640 --> 00:49:26,760 riskier plays if you feel the need to try to get more Bitcoin. 934 00:49:26,760 --> 00:49:28,520 It's controversial. Everybody's everybody's 935 00:49:28,520 --> 00:49:30,160 different. This is just the way I see it. 936 00:49:30,920 --> 00:49:31,760 Love it? Yeah. 937 00:49:31,760 --> 00:49:35,520 And on that note, like we are entering price discovery mode, 938 00:49:35,520 --> 00:49:37,800 you know, it's number go up only season. 939 00:49:38,080 --> 00:49:41,760 So what would you recommend to the new entrance into the 940 00:49:41,760 --> 00:49:43,600 Bitcoin space? Like how how can they stay 941 00:49:43,600 --> 00:49:45,640 grounded? You know, 'cause we like I, I 942 00:49:45,680 --> 00:49:48,000 jokingly said. Like, I know I'm already going 943 00:49:48,000 --> 00:49:50,840 to be losing my mind, so I'm trying to, like, pre empt myself 944 00:49:50,840 --> 00:49:53,640 so that I can stay grounded during this bull run. 945 00:49:55,320 --> 00:50:00,400 I would say, look, I think we're at 15 K sometime in the summer 946 00:50:00,400 --> 00:50:04,760 or maybe before that. So me, everyone in the chat, you 947 00:50:04,760 --> 00:50:08,960 know, we're we're all sitting here up nearing, I don't know, 948 00:50:10,000 --> 00:50:13,160 200% more. You know, we're doing very, very 949 00:50:13,160 --> 00:50:16,560 well. You're going to experience a day 950 00:50:16,560 --> 00:50:20,920 where you you walk into a restaurant to eat and you you 951 00:50:20,920 --> 00:50:24,400 come back out and your net worth's cut in half and that's 952 00:50:24,400 --> 00:50:28,880 going to freak you out. And I just asked people to 953 00:50:29,080 --> 00:50:33,360 mentally prepare for that are are you, are you overextended? 954 00:50:33,480 --> 00:50:37,600 I mean there there may be a, you know you you need. 955 00:50:37,680 --> 00:50:42,560 The fact is you you kind of need some cash to navigate this world 956 00:50:42,880 --> 00:50:44,720 the way that it is. Now if you're if you're in the 957 00:50:44,720 --> 00:50:47,680 United States, you need some some, some U.S. dollars. 958 00:50:47,680 --> 00:50:50,400 So you want to make sure you have a little bit to make it 959 00:50:50,400 --> 00:50:52,960 through and just that you're you're financially planning in a 960 00:50:52,960 --> 00:50:54,680 way that maybe you haven't before. 961 00:50:56,760 --> 00:51:01,680 The the the most fun part of this is figuring out where can 962 00:51:01,680 --> 00:51:04,640 you maximize your cash inflows as a person. 963 00:51:05,120 --> 00:51:06,960 Are you are you picking up a second job? 964 00:51:06,960 --> 00:51:08,600 Are you doing freelance work? Are you doing. 965 00:51:08,600 --> 00:51:11,000 I used to do free work for bitcoiners on the side, just to 966 00:51:11,000 --> 00:51:14,440 kind of learn the industry and and hope that it would lead to 967 00:51:15,160 --> 00:51:17,600 kind of expertise that people would be willing to pay for in 968 00:51:17,600 --> 00:51:21,480 the future and that that always pays off to to to to make good 969 00:51:21,480 --> 00:51:23,080 connections with people in the space like that. 970 00:51:24,440 --> 00:51:27,880 And then where are you minimizing your expenditure? 971 00:51:28,240 --> 00:51:32,280 We all have room to cut things, unnecessary things out of our 972 00:51:32,280 --> 00:51:35,760 life to promote savings. And this is where you get into 973 00:51:35,760 --> 00:51:38,000 the really fun cultural side of Bitcoin. 974 00:51:38,000 --> 00:51:40,960 That's like, I'm only going to eat meat, you know, no more seed 975 00:51:40,960 --> 00:51:45,040 oils, no restaurants, no Fiat. I'm not taking any cruises this 976 00:51:45,040 --> 00:51:46,400 year. You know, I'm going to cut down 977 00:51:46,400 --> 00:51:49,080 on vacations. And it's just that's the point 978 00:51:49,080 --> 00:51:52,840 where you really start to see Bitcoin affect the behavior of 979 00:51:52,840 --> 00:51:57,000 people psychologically and I think ultimately make them more 980 00:51:57,000 --> 00:52:03,080 resilient, stronger class and eventually probably like ethnic 981 00:52:03,080 --> 00:52:05,840 group of people just in the way that you don't the the 982 00:52:05,840 --> 00:52:08,640 intermarriage between Republicans and Democrats over 983 00:52:08,640 --> 00:52:11,120 the years just goes down and down and down. 984 00:52:11,120 --> 00:52:14,080 So you basically have, it's not just a culture war, it's it will 985 00:52:14,080 --> 00:52:20,320 become kind of a ethnic plotline war between people in that way. 986 00:52:20,320 --> 00:52:22,880 I don't think, I don't think bitcoiners are going to be able 987 00:52:22,880 --> 00:52:26,720 to, you know, share a household in the same way broadly with 988 00:52:26,720 --> 00:52:30,000 people who are not on board with this mission of freedom and kind 989 00:52:30,000 --> 00:52:32,760 of trustless living and self sovereignty. 990 00:52:32,760 --> 00:52:36,160 Because it requires a bit a lot more work, you know, a lot more 991 00:52:36,160 --> 00:52:38,120 work on your end to custody your own wealth. 992 00:52:38,640 --> 00:52:40,600 I complete So I really agree with that. 993 00:52:40,680 --> 00:52:45,520 I you know and I have I live in the most Fiat city in the world, 994 00:52:45,720 --> 00:52:50,160 Miami. And you know a lot of my no 995 00:52:50,160 --> 00:52:51,800 corner friends who I grew up with. 996 00:52:51,800 --> 00:52:54,360 You know and you never forget your high school friends like 997 00:52:54,360 --> 00:52:57,520 you never forget the people that you know, your friends that you 998 00:52:57,520 --> 00:53:01,200 had in your early teens, late teens, early 20s. 999 00:53:01,200 --> 00:53:03,560 You know this is some of the best memories of your life and 1000 00:53:03,560 --> 00:53:05,400 you never forget those memories, right. 1001 00:53:06,360 --> 00:53:11,080 Things change as you get older and we are operating literally 1002 00:53:11,280 --> 00:53:14,800 on a different system. I I view the world completely 1003 00:53:14,800 --> 00:53:18,920 differently than they do. They're still operating on the 1004 00:53:18,920 --> 00:53:23,720 Fiat mindset and us bitcoiners are operating on a completely 1005 00:53:23,720 --> 00:53:26,640 different mindset. And I I I think it just has to 1006 00:53:26,640 --> 00:53:30,440 do with you know the money that we choose to use the operating 1007 00:53:30,440 --> 00:53:33,160 system that we're on versus the operating system that they're 1008 00:53:33,160 --> 00:53:35,400 on, right? The Fiat operating system 1009 00:53:35,400 --> 00:53:39,400 incentivizes short term thinking, you know, bad health 1010 00:53:39,400 --> 00:53:43,560 choices, You know, again, I live in Miami, so I feel like I'm, 1011 00:53:43,560 --> 00:53:47,200 I'm in this surrounded by, you know, this type of behavior 1012 00:53:47,200 --> 00:53:50,760 where I'm at. And I think Bitcoiners are, you 1013 00:53:50,760 --> 00:53:52,880 know, totally different breed of people. 1014 00:53:52,880 --> 00:53:54,360 They're thinking about the future. 1015 00:53:54,520 --> 00:53:56,400 You know, they're thinking about, you know, setting up 1016 00:53:56,400 --> 00:53:58,720 Citadel's. They're thinking about, you 1017 00:53:58,720 --> 00:54:01,320 know, eating healthy. They're thinking about, you 1018 00:54:01,320 --> 00:54:05,000 know, starting families, right. That's Miami's terrible for 1019 00:54:05,000 --> 00:54:06,960 that. You know, like most of the girls 1020 00:54:06,960 --> 00:54:09,640 I grew up with, you know, they're they're they're about to 1021 00:54:09,640 --> 00:54:13,000 hit their 30s, you know, and then then the, you know, they're 1022 00:54:13,000 --> 00:54:15,040 kind of like I have to find a husband. 1023 00:54:15,040 --> 00:54:17,200 You know it's it's it's it's pretty crazy. 1024 00:54:17,520 --> 00:54:23,480 You know it's pretty crazy the the starch contrast between you 1025 00:54:23,480 --> 00:54:28,000 know bitcoiners and no coiners to put it, to put it nicely. 1026 00:54:29,000 --> 00:54:32,240 So I completely agree with your take, McShane. 1027 00:54:32,560 --> 00:54:35,320 So Opti, I do see something that you have. 1028 00:54:35,360 --> 00:54:38,480 Pulled yeah, yeah before before we go that we'll we'll finish it 1029 00:54:38,480 --> 00:54:42,200 up with Bitcoin conference. I wanted to touch on something 1030 00:54:42,200 --> 00:54:45,240 because I I did tee up McShane and and just to make it clear 1031 00:54:45,240 --> 00:54:48,160 guys what happens after the price goes up is it usually 1032 00:54:48,160 --> 00:54:52,000 comes down South. Prepare yourself accordingly. 1033 00:54:52,160 --> 00:54:54,760 But I do want to ask you one quick question because I did 1034 00:54:54,760 --> 00:54:58,160 bring this up last week and we did get some some people that 1035 00:54:58,160 --> 00:55:01,040 were wondering what's your thoughts on the best practices 1036 00:55:01,040 --> 00:55:07,800 for UTXO management? Labeling your UTXOS is very 1037 00:55:07,800 --> 00:55:13,240 useful just to keep track of where they've been and I I I 1038 00:55:13,240 --> 00:55:16,480 think that everyone should have two stacks. 1039 00:55:16,520 --> 00:55:20,160 I think you should. I think you should be mixing 1040 00:55:20,160 --> 00:55:26,280 coins that you'd prefer to retain privacy and have sources 1041 00:55:26,280 --> 00:55:29,280 of non KYC non know your customer. 1042 00:55:29,280 --> 00:55:34,920 Coins that you can keep separate from stacks you know that your 1043 00:55:34,920 --> 00:55:39,000 crew from places like cash app and Strike that are required to 1044 00:55:39,000 --> 00:55:41,040 turn your information over to the government. 1045 00:55:42,280 --> 00:55:45,720 I think it's useful to have both because we are entering a world 1046 00:55:45,720 --> 00:55:49,880 where you you you can spend Bitcoin out and about and and 1047 00:55:49,880 --> 00:55:54,480 and there's really no problem with using your KYC stack to do 1048 00:55:54,480 --> 00:55:59,160 so and you can you can use that stack for things like maybe you 1049 00:55:59,160 --> 00:56:02,240 need to take out some sort of Fiat denominated loan in the 1050 00:56:02,240 --> 00:56:05,480 future and you you you choose to use some Bitcoin as collateral. 1051 00:56:06,160 --> 00:56:10,000 They might not accept mix coins. There's like some kind of game 1052 00:56:10,000 --> 00:56:12,960 theory problems in the future, but the more of us that that 1053 00:56:12,960 --> 00:56:18,160 makes our coins, the bigger that anonymous UTXO set, the better 1054 00:56:18,160 --> 00:56:20,520 for everyone. You know, the more privacy we 1055 00:56:20,520 --> 00:56:25,720 retain and the more purchasing power we accrue. 1056 00:56:26,320 --> 00:56:29,560 So I would, I would say keep your stacks, keep your stacks 1057 00:56:29,560 --> 00:56:34,200 separate, learn good UTXO management, learn the trade-offs 1058 00:56:34,200 --> 00:56:37,320 of consolidating and not consolidating your UTXOSI think 1059 00:56:37,320 --> 00:56:41,600 a lot of people are learning that recently with the increased 1060 00:56:42,080 --> 00:56:44,560 fees as SAT's per virtual bike goes up. 1061 00:56:45,480 --> 00:56:48,920 You have to have kind of a plan here because you know your point 1062 00:56:48,920 --> 00:56:57,400 OOOOO 2 UTXO Bitcoin is not going to be spendable at a 1063 00:56:57,400 --> 00:57:02,440 certain point with the way with the ways that fees could rise. 1064 00:57:02,440 --> 00:57:05,920 So you might want to consolidate the trade off there as you're 1065 00:57:05,920 --> 00:57:09,320 obviously, you know kind of flagging to the world this is, 1066 00:57:09,320 --> 00:57:11,960 this is a little bit bigger of a honeypot, a little bit bigger of 1067 00:57:11,960 --> 00:57:17,480 an address and you're compromising the sources of all 1068 00:57:17,480 --> 00:57:20,040 that funds and kind of unifying them into one. 1069 00:57:20,040 --> 00:57:23,120 So you just you want to keep good, take good care, take good 1070 00:57:23,120 --> 00:57:26,400 notes of where you got your your, your Bitcoin from and keep 1071 00:57:26,400 --> 00:57:29,880 your stats, stacks, your KYC and non KYC absolutely separate. 1072 00:57:31,280 --> 00:57:32,160 Love it. Love it. 1073 00:57:32,240 --> 00:57:35,840 OK, all right. So for everyone out there, 1074 00:57:35,840 --> 00:57:39,280 McShane is head of programming at the Bitcoin Conference. 1075 00:57:39,280 --> 00:57:42,040 You guys have Bitcoin Asia coming up soon. 1076 00:57:42,440 --> 00:57:46,280 Everyone, probably our audience will most likely be at Bitcoin 1077 00:57:46,280 --> 00:57:49,680 2024 in Nashville. So I don't want to put you on 1078 00:57:49,680 --> 00:57:53,920 the spot here McShane, but what are you most excited about? 1079 00:57:53,920 --> 00:57:57,640 And what can the audience expect at either Bitcoin Asia or 1080 00:57:57,640 --> 00:57:59,840 Bitcoin 2024? You can pick whichever one you 1081 00:57:59,840 --> 00:58:03,960 want to rant on. Interesting. 1082 00:58:04,680 --> 00:58:09,480 I think Bitcoin 2024 honestly is is, you know, it's beyond the 1083 00:58:09,480 --> 00:58:11,840 halving. So I'm not really sure what's 1084 00:58:11,840 --> 00:58:13,600 going to happen. It's going to be an insane 1085 00:58:13,600 --> 00:58:17,960 celebration anyway you dice it. If you look historically, 6 to 1086 00:58:17,960 --> 00:58:22,280 18 months after the halving, the Bitcoin price absolutely 1087 00:58:22,520 --> 00:58:24,760 explodes. That's like the only reliable 1088 00:58:25,120 --> 00:58:29,480 kind of metric in my mind that you can use to economically plan 1089 00:58:29,800 --> 00:58:35,760 around stacking. I think it's going to be a a 1090 00:58:35,760 --> 00:58:38,520 celebration, but a place also where we're going to have some 1091 00:58:38,520 --> 00:58:42,160 difficult conversations. You're going to see this kind of 1092 00:58:43,560 --> 00:58:46,920 monetary maximalism and platform maximalism. 1093 00:58:48,440 --> 00:58:52,280 Ideologies play out a little bit and come to a head. 1094 00:58:52,280 --> 00:58:57,080 We've all seen this this big kind of war on like spam or 1095 00:58:57,080 --> 00:58:58,560 censorship. However, you want to call it 1096 00:58:58,560 --> 00:59:03,320 inscriptions and Bitcoin as just a perfect money that doesn't 1097 00:59:03,320 --> 00:59:06,120 need to change, that doesn't need to incorporate the features 1098 00:59:06,120 --> 00:59:09,160 and kind of utility sets of other tokens. 1099 00:59:11,560 --> 00:59:13,600 It's it's a super interesting debate. 1100 00:59:14,200 --> 00:59:16,400 I have my thoughts on the future of this. 1101 00:59:16,400 --> 00:59:19,320 I mean however you want to dice it, we are living in a multi 1102 00:59:19,320 --> 00:59:23,280 chain world, right? So one of the interesting things 1103 00:59:23,280 --> 00:59:27,800 about Bitcoin Asia is that world really doesn't that that that 1104 00:59:27,800 --> 00:59:30,240 kind of Bitcoin only world. That's not really a lens over 1105 00:59:30,240 --> 00:59:32,640 there there. There aren't really groups of 1106 00:59:32,640 --> 00:59:35,920 people that are advocating for Bitcoin, only Bitcoin 1107 00:59:35,920 --> 00:59:41,560 maximalism. You know, I'm not really sure 1108 00:59:41,560 --> 00:59:43,960 why that is, why it hasn't taken hold there. 1109 00:59:43,960 --> 00:59:48,800 But what it does is allows you to kind of think realistically 1110 00:59:48,800 --> 00:59:52,840 like, OK, what is the future of Bitcoin development? 1111 00:59:52,840 --> 00:59:55,840 It seems that we are at least some contingent of bitcoiners 1112 00:59:55,840 --> 00:59:59,880 are interested in bringing on the feature sets in a way that 1113 00:59:59,880 --> 01:00:03,800 doesn't compromise the underlying auditability and 1114 01:00:03,800 --> 01:00:06,840 security of Bitcoin. Like the Nakamoto consensus, We, 1115 01:00:06,960 --> 01:00:08,800 I think everyone agrees we don't want to change that. 1116 01:00:08,800 --> 01:00:10,000 We don't want to fuck up Bitcoin. 1117 01:00:10,480 --> 01:00:12,000 Just have smart contracts or something. 1118 01:00:12,320 --> 01:00:15,200 So the question becomes like how do we build on layer twos and 1119 01:00:15,200 --> 01:00:18,200 threes and what are we going to do when all these people come? 1120 01:00:18,200 --> 01:00:21,760 I, I, I honestly, I find it really odd that people are so 1121 01:00:21,760 --> 01:00:29,320 hostile to inscribers. Even if I don't agree with what 1122 01:00:29,320 --> 01:00:33,840 they're doing, I don't feel that I have the right to exercise 1123 01:00:34,080 --> 01:00:37,880 judgment over how they spend their their Bitcoin, right. 1124 01:00:37,880 --> 01:00:39,200 That's that's kind of the whole point. 1125 01:00:39,600 --> 01:00:42,840 So it's just a it's a very heated landscape. 1126 01:00:42,840 --> 01:00:46,960 And I'm excited to have some of these arguments out on stage and 1127 01:00:47,880 --> 01:00:51,080 see how people's minds change as the price rises. 1128 01:00:51,080 --> 01:00:54,360 And we do get more and more people coming to put their 1129 01:00:54,360 --> 01:00:57,160 fucking NFTS on Bitcoin, but they're also running their own 1130 01:00:57,160 --> 01:00:59,080 nodes, teaching others to run their own. 1131 01:00:59,080 --> 01:01:04,680 I mean, these are real things that are happening, so yeah. 1132 01:01:05,040 --> 01:01:09,120 So Mega Bull Run Bull Run Conference confirmed. 1133 01:01:09,640 --> 01:01:11,560 Yeah yeah mega bull run conference. 1134 01:01:11,680 --> 01:01:17,480 I mean this is always how it is. It's yeah it'll this one and and 1135 01:01:17,480 --> 01:01:20,960 and perhaps the year after are going to be absolutely huge 1136 01:01:20,960 --> 01:01:22,840 depending on how the how the price comes. 1137 01:01:22,840 --> 01:01:28,240 But the the other interesting cultural clash is this new field 1138 01:01:28,240 --> 01:01:32,000 of bitcoiners, of the institutional bitcoiners who 1139 01:01:32,000 --> 01:01:34,040 have absolutely nothing in common with us. 1140 01:01:34,680 --> 01:01:38,840 You know is there wealthy trust fund kids or you know Wall 1141 01:01:38,840 --> 01:01:41,160 Street traders, whatever whatever they are you know 1142 01:01:41,160 --> 01:01:46,320 family offices, they're coming in and and we are going to have 1143 01:01:46,320 --> 01:01:49,560 to work together on some things. They're they're they're going to 1144 01:01:49,560 --> 01:01:51,840 catch up quick. They have unlimited resources at 1145 01:01:51,840 --> 01:01:55,160 their disposal to learn about how Bitcoin works and has 1146 01:01:55,160 --> 01:01:58,680 changed and we're going to have to be ready for like I'm 1147 01:01:58,680 --> 01:02:03,960 actually quite concerned about like misinformation and and and 1148 01:02:03,960 --> 01:02:08,520 psychological attacks on Bitcoin by way of tricking people into, 1149 01:02:09,200 --> 01:02:12,400 you know, some kind of consensus down the road. 1150 01:02:12,400 --> 01:02:16,040 That is not ideal. It's not, it's not the vision. 1151 01:02:16,040 --> 01:02:18,040 It's not what what we want is bitcoiners. 1152 01:02:18,160 --> 01:02:22,520 But not to spread the thought. I'm just saying there's a lot of 1153 01:02:22,520 --> 01:02:26,600 interesting cultures. Like everything that rises here 1154 01:02:26,600 --> 01:02:29,080 has to converge. So we're just kind of, we're 1155 01:02:29,080 --> 01:02:31,400 going to make a lot of new friends and enemies along the 1156 01:02:31,400 --> 01:02:33,120 way and it's going to be, it's going to be pretty fun. 1157 01:02:34,440 --> 01:02:36,680 Love it, Love it. OK, not too hard. 1158 01:02:36,680 --> 01:02:39,480 Pivot. But we do know that you are a 1159 01:02:39,480 --> 01:02:42,920 huge Noster advocate. Is Noster the future of social 1160 01:02:42,920 --> 01:02:48,720 media? The future of social media 1161 01:02:48,720 --> 01:02:51,040 itself? I don't know. 1162 01:02:51,480 --> 01:02:56,800 But of, like, uncensorable communication? 1163 01:02:57,280 --> 01:03:02,760 Yeah, I think so. I also run a a Noster conference 1164 01:03:02,760 --> 01:03:05,320 and we're coming to Riga. We're going to pair up with 1165 01:03:05,320 --> 01:03:08,840 Baltic Honey Badger because obviously there's a lot that 1166 01:03:08,840 --> 01:03:12,160 these protocols have in common. The Noster protocol and the 1167 01:03:12,160 --> 01:03:16,440 Bitcoin protocol tour there. There are a lot of open source 1168 01:03:16,440 --> 01:03:19,880 protocols that we as Bitcoiners use often. 1169 01:03:19,880 --> 01:03:22,280 And I I want these communities to converge. 1170 01:03:22,280 --> 01:03:24,360 I want all Bitcoiners to try Noster. 1171 01:03:26,120 --> 01:03:29,160 It's very exciting and fun to be so early to something. 1172 01:03:29,160 --> 01:03:34,120 I mean, it's only a few years old and it gives you a lot more 1173 01:03:34,120 --> 01:03:41,600 freedom to communicate without that privacy trade off. 1174 01:03:41,600 --> 01:03:45,640 You're you're you're giving up no data involuntarily when you 1175 01:03:45,640 --> 01:03:48,720 use no stir. The user agreement's hilarious. 1176 01:03:48,720 --> 01:03:51,960 Just says this. We do not collect any data on 1177 01:03:51,960 --> 01:03:54,360 you, you know, it's just, it's just it's just what you post, 1178 01:03:54,680 --> 01:03:57,360 which for most people they're like, who cares? 1179 01:03:57,360 --> 01:03:59,760 There's only, like, you know, 100,000 people who who gives a 1180 01:03:59,760 --> 01:04:02,720 shit. But it matters over time. 1181 01:04:02,800 --> 01:04:05,800 It matters if you live in Saudi Arabia and you're, you know, 1182 01:04:05,800 --> 01:04:08,200 you're going to get, you know, executed for your tweets. 1183 01:04:11,040 --> 01:04:14,400 It matters if you want to retain anonymity and not pay for a blue 1184 01:04:14,400 --> 01:04:18,240 check and you still want to feel seen and heard and have virtual 1185 01:04:18,240 --> 01:04:21,880 community. It matters if you want free and 1186 01:04:21,880 --> 01:04:27,040 open source marketplaces and I think that's coming in a in a 1187 01:04:27,040 --> 01:04:32,560 pretty robust way to no STIR. It's yeah, I think it's 1188 01:04:32,760 --> 01:04:35,600 important to point out like we actually don't know there 1189 01:04:35,600 --> 01:04:38,840 there's like more devs working on no STIR and more projects 1190 01:04:38,840 --> 01:04:43,480 right now than there are users and the that's because the the 1191 01:04:43,480 --> 01:04:47,720 potential of this thing is so much has many broader 1192 01:04:47,720 --> 01:04:50,080 implications than just social media. 1193 01:04:50,080 --> 01:04:54,400 So if you're interested in Bitcoin a little bit from the 1194 01:04:54,400 --> 01:04:58,720 technical aspect of it, or urge you to look into open source 1195 01:04:58,720 --> 01:05:03,280 software development in general and to definitely try Noster, 1196 01:05:03,800 --> 01:05:06,640 you know. All right, before I pass it to 1197 01:05:06,640 --> 01:05:09,480 Nico, if he wants to chime in, is it noster or noster? 1198 01:05:12,280 --> 01:05:15,760 I say Noster, I'm not changing. I don't think there's consensus. 1199 01:05:16,200 --> 01:05:17,560 All right, all right. Well, then. 1200 01:05:17,600 --> 01:05:19,760 Wait, you heard it here first. Whatever you want to choose, 1201 01:05:19,760 --> 01:05:23,080 choose your own adventure, Nika. You want to chime in before I 1202 01:05:23,080 --> 01:05:26,640 ask McShane the the last question I always ask our 1203 01:05:26,640 --> 01:05:28,280 guests. Yeah, absolutely. 1204 01:05:28,280 --> 01:05:33,400 Look, so yeah, the the Noster thing is, is is incredibly 1205 01:05:33,400 --> 01:05:38,000 fascinating just from the aspect of, you know, there, there was 1206 01:05:38,000 --> 01:05:41,280 first the Domus app, then there's the, you know, the 1207 01:05:41,280 --> 01:05:44,880 Primal app and you know, primal like kind of, you know, tweaks 1208 01:05:44,880 --> 01:05:47,000 some things you could say made it a little bit better. 1209 01:05:47,000 --> 01:05:50,800 They added the wallet in there and you could see, when you say 1210 01:05:50,800 --> 01:05:53,240 the marketplace, you could see that coming. 1211 01:05:53,800 --> 01:05:58,040 When you have the wallet implemented in the app itself, 1212 01:05:58,240 --> 01:06:01,640 you see that. And the beauty of this is, this 1213 01:06:01,640 --> 01:06:05,440 isn't just Twitter where they can just take your account, put 1214 01:06:05,440 --> 01:06:08,560 it off the ban your account, take it, delete your account. 1215 01:06:08,840 --> 01:06:12,440 Now you're gone, right. Regardless of the app, you can 1216 01:06:12,440 --> 01:06:15,160 take everything with you as long as you have you know your 1217 01:06:15,160 --> 01:06:16,520 private key and then your public key. 1218 01:06:16,520 --> 01:06:18,400 I don't know what the. I know it's a it's called a 1219 01:06:18,400 --> 01:06:21,480 little bit differently. So yeah I I think it's really 1220 01:06:21,480 --> 01:06:26,040 exciting but you know to to go back to Opti's original question 1221 01:06:26,040 --> 01:06:28,920 to you which is is it the future? 1222 01:06:28,920 --> 01:06:31,760 Well it clearly Twitter has the critical mask. 1223 01:06:31,760 --> 01:06:33,720 Clearly YouTube has the critical mask. 1224 01:06:33,920 --> 01:06:37,320 However, if these platforms now, it's a little bit different that 1225 01:06:37,360 --> 01:06:40,600 Elon has took it over. But like for example YouTube, if 1226 01:06:40,600 --> 01:06:44,840 they continue going down that route of, you know, banning 1227 01:06:44,840 --> 01:06:47,960 certain channels because of, you know, their political thoughts. 1228 01:06:48,880 --> 01:06:52,440 You know, I kind of see Noster as a one way door, just as I see 1229 01:06:52,440 --> 01:06:54,520 Bitcoin as a one way door, right. 1230 01:06:54,520 --> 01:06:57,760 They, you don't go from Bitcoin back to Fiat. 1231 01:06:58,160 --> 01:07:01,120 You go from Fiat to Bitcoin and then you're like it's a lot 1232 01:07:01,120 --> 01:07:03,600 nicer here. I kind of don't want to go back, 1233 01:07:03,600 --> 01:07:06,440 right. So yeah, I'm, I'm extremely 1234 01:07:06,440 --> 01:07:09,400 bullish on it and I think we're in the infancy of it, right. 1235 01:07:09,400 --> 01:07:13,000 So if people want to find out more about Noster itself, 1236 01:07:13,000 --> 01:07:16,400 because I think it's a it's it's a little bit more harder to 1237 01:07:16,400 --> 01:07:20,120 understand, harder for people to get their their, their their 1238 01:07:20,120 --> 01:07:22,000 minds around you. You said that you were, you 1239 01:07:22,000 --> 01:07:23,840 know, organizing a conference in Riga. 1240 01:07:24,080 --> 01:07:26,680 So what what sources do you recommend? 1241 01:07:26,720 --> 01:07:29,480 Like where would you start if someone wanted to learn more 1242 01:07:29,480 --> 01:07:31,520 about Noster? If they're interested about it, 1243 01:07:31,920 --> 01:07:34,840 how to create an account? What would you recommend to 1244 01:07:34,840 --> 01:07:37,760 them? If you want to run a desktop 1245 01:07:37,760 --> 01:07:43,440 client, go to primal.net. If you have an iOS device, 1246 01:07:43,440 --> 01:07:47,000 download Domus Primal. If you have an Android device, 1247 01:07:47,000 --> 01:07:48,920 there's this. There's a suite of clients you 1248 01:07:48,920 --> 01:07:52,520 can use as well, I think. I think one thing I want to 1249 01:07:52,520 --> 01:07:55,600 touch on that you said there just real quick, these 1250 01:07:55,640 --> 01:08:00,960 technologies are orthogonal. This is not the same thing or 1251 01:08:00,960 --> 01:08:05,920 remake of Twitter at all. You you can't have uncensored 1252 01:08:06,240 --> 01:08:12,040 conversations at companies. It's not how it works. 1253 01:08:12,040 --> 01:08:15,520 They're they're they're always beholden to the surveillance 1254 01:08:15,520 --> 01:08:21,200 state and they will always compromise user privacy for that 1255 01:08:21,200 --> 01:08:25,319 state. This this notion that Twitter is 1256 01:08:25,319 --> 01:08:28,920 a is a freedom platform of free speech is complete bullshit. 1257 01:08:29,720 --> 01:08:32,399 All of us know that at heart there there are things you can't 1258 01:08:32,399 --> 01:08:38,120 say the things that will you know the algorithms prime to 1259 01:08:38,120 --> 01:08:43,080 promote the agenda of the the the heads of that company and 1260 01:08:43,080 --> 01:08:46,200 and that's not the case. That's not the case for no Sir 1261 01:08:46,880 --> 01:08:49,279 at all. So I definitely agree with you. 1262 01:08:49,279 --> 01:08:53,120 I think it's a one way door, yeah, just go check it out and 1263 01:08:53,120 --> 01:08:54,399 play with it. It's really not. 1264 01:08:54,399 --> 01:08:58,560 It's a lot easier to set up than a Twitter or a Google account or 1265 01:08:58,560 --> 01:09:01,720 something like this because it requires no personal 1266 01:09:01,720 --> 01:09:03,920 information. Join as a Nim. 1267 01:09:04,359 --> 01:09:08,240 You'll be given an N pub and an N sack, a public and private 1268 01:09:08,240 --> 01:09:09,680 key. We know how to use these from 1269 01:09:09,680 --> 01:09:13,359 Bitcoin. Keep your secret key secret and 1270 01:09:14,279 --> 01:09:16,680 you're off to the races you can start Posting immediately. 1271 01:09:17,040 --> 01:09:21,920 Takes less than a second to make the account and you can grow it 1272 01:09:21,920 --> 01:09:26,439 from there. It's yeah, every every bitcoiner 1273 01:09:26,439 --> 01:09:27,880 should, should should should try it. 1274 01:09:27,880 --> 01:09:30,040 If you haven't, you know you're behind. 1275 01:09:30,040 --> 01:09:32,200 Get on it. It takes just an afternoon to 1276 01:09:32,200 --> 01:09:33,279 get to know. No, Sir, I think. 1277 01:09:33,840 --> 01:09:34,359 What? What? 1278 01:09:34,520 --> 01:09:35,760 What client are you using right now? 1279 01:09:35,760 --> 01:09:37,200 What's your favorite client at the moment? 1280 01:09:38,960 --> 01:09:40,560 I don't really have a favorite. I use. 1281 01:09:40,560 --> 01:09:42,479 I use different clients for different things. 1282 01:09:42,760 --> 01:09:47,680 If I'm going to do do a lot of zapping, I I tend to use Primal. 1283 01:09:47,680 --> 01:09:50,880 If I'm, if I'm, if I'm on desktop, I love, I love using 1284 01:09:50,880 --> 01:09:54,840 Primal. I use Domus at home, like from 1285 01:09:54,840 --> 01:09:56,440 my phone. Especially if I want to upload 1286 01:09:56,440 --> 01:09:57,720 media. They're really good. 1287 01:09:58,040 --> 01:10:02,480 I can do really high quality long videos on Domus, you know 1288 01:10:02,480 --> 01:10:06,000 show people pictures of the Citadel, get things get things. 1289 01:10:06,400 --> 01:10:09,880 I don't know. It kind of depends what you want 1290 01:10:09,880 --> 01:10:11,520 to do. I'd recommend people just just 1291 01:10:11,520 --> 01:10:13,840 try them out. You know, if if the marketplace 1292 01:10:13,840 --> 01:10:17,360 isn't offering something that you find valuable, the beautiful 1293 01:10:17,360 --> 01:10:18,600 thing is you can just make your own. 1294 01:10:18,600 --> 01:10:22,040 You can make your own Noster client pretty quickly. 1295 01:10:22,320 --> 01:10:23,960 It's a. It's pretty simple protocol. 1296 01:10:24,520 --> 01:10:27,160 Love it. OK, so just wrapping up. 1297 01:10:27,760 --> 01:10:31,840 McShane and I ask all you. I try to ask sometimes I forget, 1298 01:10:31,840 --> 01:10:34,840 but what would be your last two sets to the audience? 1299 01:10:34,840 --> 01:10:36,480 It could be anything that we talked about. 1300 01:10:36,480 --> 01:10:38,280 It could be anything you haven't talked about. 1301 01:10:38,280 --> 01:10:40,920 What is the last message you want to leave with the viewers? 1302 01:10:45,480 --> 01:10:48,680 I mean you've heard it before. Get your Bitcoin into self 1303 01:10:48,680 --> 01:10:52,360 custody. If you've never used a hardware 1304 01:10:52,360 --> 01:10:54,360 wallet, get one. Get a get. 1305 01:10:54,480 --> 01:10:56,440 Get a cold card. Get get something. 1306 01:10:56,520 --> 01:10:59,080 The foundation passport. Get something. 1307 01:10:59,080 --> 01:11:03,800 Try it out. Learn to use a pass phrase or 1308 01:11:03,800 --> 01:11:05,960 multi sig. I think that's also important so 1309 01:11:05,960 --> 01:11:08,480 you're not, you know, honey potting your your household. 1310 01:11:10,680 --> 01:11:14,680 Learn about geographically distributed multi sigs and get 1311 01:11:14,720 --> 01:11:18,280 get your Bitcoin off the exchanges and get out of that 1312 01:11:18,280 --> 01:11:25,000 spot ETF garbage capture. Bitcoin, yeah. 1313 01:11:25,000 --> 01:11:26,880 Beautifully. Wait, wait, wait, Nico, before 1314 01:11:26,880 --> 01:11:30,280 you go make Shane, I did see your tweet or I think you quote 1315 01:11:30,280 --> 01:11:33,560 tweeted you like the spot. Bitcoin ETF is just layer 2 for 1316 01:11:33,560 --> 01:11:35,600 boomers and that had me cracking up before. 1317 01:11:37,400 --> 01:11:38,440 It is. It is. 1318 01:11:39,520 --> 01:11:41,480 Such a good framing. That's good framing. 1319 01:11:42,000 --> 01:11:43,200 Hi, Nico. We can roll this out. 1320 01:11:43,360 --> 01:11:44,440 That's McShane. That was great. 1321 01:11:44,600 --> 01:11:48,680 Captured Bitcoin versus spot Bitcoin Guys, thank you so much 1322 01:11:48,680 --> 01:11:50,600 for tuning into another episode of Simply Bitcoin Live. 1323 01:11:50,600 --> 01:11:52,600 I'm your host Nico. This is my Co host Optimus 1324 01:11:52,600 --> 01:11:55,160 Fields. This is our guest McShane. 1325 01:11:55,160 --> 01:11:58,120 You can go follow him at McShane. under score rights. 1326 01:11:58,360 --> 01:12:00,680 You can go check him out on Noster McShane. 1327 01:12:00,840 --> 01:12:03,800 By the way, we do have a promo code for the Bitcoin 1328 01:12:03,800 --> 01:12:06,000 conferences. You can use promo code simply. 1329 01:12:06,400 --> 01:12:09,480 They'll get you 10% off. Definitely highly recommend 1330 01:12:09,480 --> 01:12:11,360 them. I've been going since Bitcoin 1331 01:12:11,360 --> 01:12:14,120 2021. They're a lot of fun, especially 1332 01:12:14,120 --> 01:12:15,800 if you're trying to get a job in the industry. 1333 01:12:15,800 --> 01:12:18,760 I cannot recommend them enough. They're incredible, especially 1334 01:12:18,760 --> 01:12:21,080 industry day. Definitely recommend that get 1335 01:12:21,080 --> 01:12:24,040 that type of ticket. And McShane, thank you so much 1336 01:12:24,040 --> 01:12:25,320 for joining us on the show today. 1337 01:12:25,320 --> 01:12:28,240 Really, really appreciate it and hope to see you in Nashville. 1338 01:12:29,000 --> 01:12:30,640 It's been a blast, man. Thanks for having me. 1339 01:12:31,040 --> 01:12:33,400 Appreciate it. All right, guys, that was our 1340 01:12:33,400 --> 01:12:34,280 episode. If you enjoyed the show, you 1341 01:12:34,280 --> 01:12:35,520 know what to do. Smash that like button. 1342 01:12:35,520 --> 01:12:37,840 Consider subscribing. If you feel like we provided you 1343 01:12:37,840 --> 01:12:40,720 value, we'll see you tomorrow for a brand new episode of 1344 01:12:40,720 --> 01:12:43,000 Simply Bitcoin Live. Peace out, everybody. 1345 01:12:44,680 --> 01:12:48,040 Today's episode was brought to you by bitcoinwell.com, a 1346 01:12:48,040 --> 01:12:51,200 Bitcoin only platform on a mission to enable financial 1347 01:12:51,200 --> 01:12:52,000 independence.