1 00:00:00,080 --> 00:00:02,360 Yeah. Most people think the bear 2 00:00:02,360 --> 00:00:06,560 market just started, but the world's largest exchange, 3 00:00:06,560 --> 00:00:12,040 Coinbase, quietly dropped a new bombshell report that suggests 4 00:00:12,080 --> 00:00:14,920 Bitcoin is about to surprise everyone. 5 00:00:15,280 --> 00:00:17,920 And it's not just this new. Report making bullish 6 00:00:17,920 --> 00:00:21,600 suggestions. Bitcoin closed above a very 7 00:00:21,600 --> 00:00:25,480 important level yesterday. Before we get to all of that, 8 00:00:25,480 --> 00:00:29,960 let's not forget Coinbase serves some of the largest sovereign 9 00:00:30,040 --> 00:00:33,800 wealth funds and institutions in the world, and they probably 10 00:00:33,800 --> 00:00:37,520 know more about what's going on behind the scenes than most. 11 00:00:38,000 --> 00:00:40,440 And This is why they. Said a while back. 12 00:00:41,760 --> 00:00:45,120 Let's check out the clip. Well, if you're, if we're 13 00:00:45,120 --> 00:00:48,560 talking about an end, you know, sovereign wealth fund or pension 14 00:00:48,560 --> 00:00:51,600 fund and we, we have conversations going with, with 15 00:00:51,600 --> 00:00:57,000 many of these, the fastest any of these entities can move is 16 00:00:57,000 --> 00:01:03,480 generally two quarters, right? There's all these processes that 17 00:01:03,480 --> 00:01:06,400 exist. So generally speaking, if you're 18 00:01:06,400 --> 00:01:10,120 going to do something, you have to propose to do it, right? 19 00:01:10,360 --> 00:01:13,440 And that has to be approved generally by the investment 20 00:01:13,440 --> 00:01:15,600 committee. Most large plans have an 21 00:01:15,600 --> 00:01:17,880 investment committee every quarter, right? 22 00:01:18,040 --> 00:01:21,120 So there you go. And if you're going to propose 23 00:01:21,120 --> 00:01:23,800 to do something, often times you're going to propose that you 24 00:01:23,800 --> 00:01:26,800 want to do something and then you have to propose to then to 25 00:01:26,800 --> 00:01:29,800 your point, think about execution, which there is really 26 00:01:29,800 --> 00:01:31,960 a search. So you have to propose the 27 00:01:31,960 --> 00:01:33,760 allocation, you get approved for it. 28 00:01:33,840 --> 00:01:38,120 And then you got to go search for the manager or the OR the OR 29 00:01:38,120 --> 00:01:41,000 their fund or the direct access platform, right? 30 00:01:42,000 --> 00:01:46,200 So best case scenario for somebody, and we know a couple 31 00:01:46,200 --> 00:01:49,240 of these plans, the best case scenario is literally two 32 00:01:49,240 --> 00:01:54,960 quarters in most cases. So we wrote a piece couple years 33 00:01:54,960 --> 00:01:57,080 ago saying where are where are all the institutions? 34 00:01:57,240 --> 00:02:01,000 Well, they're now here, but not everywhere. 35 00:02:01,720 --> 00:02:04,840 And even those that want to move, it's going to take some 36 00:02:04,840 --> 00:02:06,480 time. I think we're going to see, you 37 00:02:06,720 --> 00:02:11,280 know, we're going to come back from summer vacation and I think 38 00:02:11,280 --> 00:02:12,880 in September. After I get back from Saint 39 00:02:12,880 --> 00:02:15,680 Sebastian. San Sebastian and and and then 40 00:02:15,680 --> 00:02:17,200 you're, you're working in Italy, I think. 41 00:02:17,400 --> 00:02:18,600 Yeah. Yeah. 42 00:02:19,040 --> 00:02:23,160 But I, I think we're going to see some big headlines in Q3 43 00:02:24,040 --> 00:02:27,720 which will wake, wake up the market and say, OK, well, it's 44 00:02:27,720 --> 00:02:30,920 not for everybody, but for this subset of investors, maybe it 45 00:02:30,920 --> 00:02:32,400 should be in your benchmark, right. 46 00:02:32,800 --> 00:02:36,280 And and that sort of endorsement value we haven't actually really 47 00:02:36,280 --> 00:02:40,040 seen, right? So that's absolutely massive, 48 00:02:40,040 --> 00:02:42,960 ladies and gentlemen, right. And now while everyone is 49 00:02:42,960 --> 00:02:46,120 thinking, you know, and it could be true, right, the four year 50 00:02:46,120 --> 00:02:48,880 cycle could hold up until it's not. 51 00:02:48,880 --> 00:02:52,320 Nobody knows until the cycle actually breaks. 52 00:02:52,520 --> 00:02:56,640 That's when you know, the, the, the concept of a four year 53 00:02:56,640 --> 00:02:58,360 cycle, it's intact until it's not. 54 00:02:58,720 --> 00:03:02,080 And the fact is, as we, we still have, you know, about a month 55 00:03:02,160 --> 00:03:06,480 and a half left in Q4 and Bitcoin could head into all time 56 00:03:06,480 --> 00:03:10,560 highs and then we could be heading into a bear market in 57 00:03:10,560 --> 00:03:13,840 2026. I think the thing that catches 58 00:03:13,840 --> 00:03:18,120 everybody by surprise this time is the fact that we never 59 00:03:18,120 --> 00:03:21,560 entered A euphoria phase in Bitcoin. 60 00:03:22,000 --> 00:03:25,920 Also, what changes things is the fact that institutions, 61 00:03:25,920 --> 00:03:29,560 sovereign wealth funds and also the administration in the United 62 00:03:29,560 --> 00:03:33,240 States that the president, President Trump owns the 6th 63 00:03:33,240 --> 00:03:35,080 largest Bitcoin treasury company. 64 00:03:35,360 --> 00:03:39,280 Right. BlackRock, the most popular ETF 65 00:03:39,280 --> 00:03:42,520 launch in history that they've ever had and the most profitable 66 00:03:42,680 --> 00:03:46,880 ETF that they've ever had is the Bitcoin ETF, right? 67 00:03:47,280 --> 00:03:51,200 So if you put all of those things together, the fact that 68 00:03:51,200 --> 00:03:57,840 we've been consolidating at 100K for an entire year, with all of 69 00:03:57,840 --> 00:04:03,000 those other things being true, is it too much of A stretch to 70 00:04:03,000 --> 00:04:10,360 say that 2026 can continue? And the thing about markets is 71 00:04:10,360 --> 00:04:13,840 that markets do the exact opposite of what the consensus 72 00:04:13,840 --> 00:04:16,040 believes and what the consensus thinks. 73 00:04:16,920 --> 00:04:20,200 And that would go against the consensus because the mainstream 74 00:04:20,200 --> 00:04:25,080 consensus right now on Bitcoin X or Bitcoin Twitter is that, hey, 75 00:04:25,080 --> 00:04:27,760 you know, the four year cycles, you know that they could, they 76 00:04:27,760 --> 00:04:30,000 could be a thing. But if you take. 77 00:04:30,000 --> 00:04:35,520 A look at the quantile model that you know some of the 78 00:04:35,520 --> 00:04:39,560 bitcoiners have been developing. If I can find it here on my 79 00:04:39,560 --> 00:04:44,520 screen, Bitcoin really isn't overheated in the grand scheme 80 00:04:44,520 --> 00:04:47,560 of things. I mean, like it's it's really 81 00:04:47,560 --> 00:04:51,840 not like take a look at this. I think this guy does fantastic 82 00:04:51,840 --> 00:04:53,000 work. We've had him on the show 83 00:04:53,000 --> 00:04:55,000 before. His name is Cena. 84 00:04:55,920 --> 00:04:59,560 And then here's Stefan Lavera. Bitcoin OG's been in the space 85 00:04:59,560 --> 00:05:01,560 for a while. Absolutely love his podcast, 86 00:05:01,560 --> 00:05:05,280 good friend. And he says gives us a sense of 87 00:05:05,280 --> 00:05:08,720 where things are. We didn't have a crazy euphoria. 88 00:05:08,720 --> 00:05:12,920 So to me, it's pretty unlikely we're going bear cycle now, 89 00:05:12,920 --> 00:05:16,360 despite the recent sentiment. And you got to ask yourself, 90 00:05:17,000 --> 00:05:21,360 even though we're at 100K, even though we're at $100,000 right 91 00:05:21,360 --> 00:05:23,880 now, what is the sentiment of the market? 92 00:05:24,240 --> 00:05:28,600 It's bad, it's not good. People are not feeling bullish 93 00:05:28,800 --> 00:05:30,680 about the price of Bitcoin right now. 94 00:05:31,000 --> 00:05:36,800 In fact, if you take a look at retail interest, it's the lowest 95 00:05:37,080 --> 00:05:39,680 it's ever been in a very long time. 96 00:05:40,000 --> 00:05:42,480 Take out this tweet from Naria Nepal. 97 00:05:42,480 --> 00:05:47,880 He says there's virtually 0 social social interest in crypto 98 00:05:47,920 --> 00:05:51,320 and Bitcoin right now. I mean, this is the lowest it's 99 00:05:51,320 --> 00:05:56,880 ever been since the bear market of 2018-2019. 100 00:05:57,640 --> 00:06:02,440 So retail is not paying attention to Bitcoin, mainstream 101 00:06:02,440 --> 00:06:04,040 is not paying attention to Bitcoin. 102 00:06:04,400 --> 00:06:08,320 And we're consolidating above $100,000. 103 00:06:09,120 --> 00:06:12,880 So to me, if you put two and two together and again, this is not 104 00:06:12,880 --> 00:06:17,560 financial advice, but if you just lay out the facts, a 105 00:06:17,560 --> 00:06:20,040 sovereign wealth funds are interested. 106 00:06:20,120 --> 00:06:24,040 They're actively buying Bitcoin. The president's son confirmed 107 00:06:24,040 --> 00:06:26,400 that the other day. You have the president of the 108 00:06:26,400 --> 00:06:29,280 United States owns the 6th largest treasury company. 109 00:06:29,440 --> 00:06:33,040 You have Michael Saylor buying all of the available supply. 110 00:06:33,520 --> 00:06:39,200 So when these Bitcoin Ogs exhaust the selling, they run 111 00:06:39,200 --> 00:06:42,120 out of coins to sell. Where do you think the price is 112 00:06:42,120 --> 00:06:45,280 going to go? And again, that would go, that 113 00:06:45,280 --> 00:06:49,240 would go against general market consensus because everyone and 114 00:06:49,240 --> 00:06:52,640 their mother believed that Q4 was going to be extremely 115 00:06:52,640 --> 00:06:56,120 bullish. And the exact opposite happened. 116 00:06:56,320 --> 00:07:00,040 Bitcoin did something that no one expected, which is what 117 00:07:00,040 --> 00:07:04,560 markets do because if everyone thought the same thing, it just 118 00:07:04,560 --> 00:07:06,800 wouldn't make sense, right? There's winners and there's 119 00:07:06,800 --> 00:07:08,640 losers and markets at the end of the day. 120 00:07:09,040 --> 00:07:13,000 But anyhow, so take a look at this post from Cena says if you 121 00:07:13,000 --> 00:07:16,680 consider the green corridor, we have been range bound since 122 00:07:16,680 --> 00:07:21,920 2024, yet the uptrend is intact. Now I said in the very 123 00:07:21,920 --> 00:07:26,840 beginning, we had a very key number to hit if we wanted to 124 00:07:26,840 --> 00:07:32,800 stay above the 50, yeah, the 50 week moving average. 125 00:07:33,320 --> 00:07:39,960 And last night we needed to close above hundred $404,900. 126 00:07:40,320 --> 00:07:43,360 We did just that. In fact, we got all the way up 127 00:07:43,360 --> 00:07:48,800 to $106,000 just right before the weekly close. 128 00:07:49,400 --> 00:07:52,760 So the bullish market structure is still intact. 129 00:07:53,080 --> 00:07:56,320 And I think this is what's catching everybody by surprise 130 00:07:56,680 --> 00:08:01,040 is that they don't understand. And I would say that we are an 131 00:08:01,040 --> 00:08:04,840 uncharted territory. Bitcoins never behave like this. 132 00:08:05,280 --> 00:08:09,880 Bitcoins never acted like this. We're all, I would say, not all 133 00:08:09,880 --> 00:08:13,800 of us, but the majority of people on Bitcoin Twitter kind 134 00:08:13,800 --> 00:08:17,640 of scratching themselves saying, hey dude, when is the pump 135 00:08:17,680 --> 00:08:20,200 coming? But if you actually take a look 136 00:08:20,200 --> 00:08:23,840 at the market, it just looks like we're exactly where we need 137 00:08:23,840 --> 00:08:26,120 to be. It's not really overheated. 138 00:08:26,400 --> 00:08:29,440 It's not really that cheap. We're kind of right in the 139 00:08:29,440 --> 00:08:31,920 middle, right? And it shows it right here in 140 00:08:31,920 --> 00:08:35,960 the Bitcoin quantile model. We're right in the middle of 141 00:08:35,960 --> 00:08:39,559 things, right? So let's see what happens. 142 00:08:40,039 --> 00:08:44,400 But the fact that Coinbase, again, is talking about 143 00:08:44,680 --> 00:08:49,640 sovereign wealth funds that are interested in Bitcoin, I think 144 00:08:49,680 --> 00:08:54,480 is a very, very, very, very big deal. 145 00:08:54,840 --> 00:08:57,960 So anyways, I'm going to pass it on to my beautiful wife who's 146 00:08:57,960 --> 00:09:00,480 joining me today in the cohost seat. 147 00:09:00,760 --> 00:09:03,000 Opti is currently traveling. We're going to be at Mining 148 00:09:03,000 --> 00:09:07,880 Disrupt this week, so forgive us while things get shaken up a 149 00:09:07,880 --> 00:09:10,000 little bit. But Sophie, what are you? 150 00:09:10,000 --> 00:09:12,400 What are your thoughts on this? Because you've been experiencing 151 00:09:12,400 --> 00:09:16,160 this with me this entire year. I think we both had expectations 152 00:09:16,160 --> 00:09:21,360 for Bitcoin in Q4. You know of, of of 2025 with the 153 00:09:21,360 --> 00:09:23,960 president getting elected, we were celebrating, remember the 154 00:09:23,960 --> 00:09:27,640 beginning of the year, we were celebrating the inauguration, 155 00:09:27,760 --> 00:09:30,840 Inauguration day. The price of Bitcoin is 109,000. 156 00:09:31,400 --> 00:09:35,000 It was good times. Fast forward 11 months later and 157 00:09:35,000 --> 00:09:42,640 the Bitcoin price is actually lower than than where it should 158 00:09:42,640 --> 00:09:44,440 be, right? So what's what's? 159 00:09:44,640 --> 00:09:45,440 Where? Where we. 160 00:09:45,440 --> 00:09:50,280 Expected it to be. I think that when institutions 161 00:09:50,280 --> 00:09:54,200 come into the picture, everything suddenly becomes a 162 00:09:54,200 --> 00:09:58,880 little more bureaucratic, right? I think that it's taking its 163 00:09:58,880 --> 00:10:03,800 time and it's not that this is the end of the bull run. 164 00:10:03,800 --> 00:10:09,080 I just think it's what Samson Mao said recently that it's been 165 00:10:09,080 --> 00:10:14,320 delayed and I think that a lot of important people have bought 166 00:10:14,320 --> 00:10:17,960 into this at this point and they're not just going to let 167 00:10:18,080 --> 00:10:20,320 Bitcoin crash. They're not going to let this 168 00:10:20,320 --> 00:10:24,040 bull run go by the wayside. They are going to make sure, and 169 00:10:24,040 --> 00:10:27,400 that's kind of what I got from this report, they are going to 170 00:10:27,480 --> 00:10:30,960 make sure that the bull run is still in play. 171 00:10:30,960 --> 00:10:35,040 And so it's, it's obviously not meeting our expectations in 172 00:10:35,040 --> 00:10:38,280 terms of a timeline, but that just means that we have to wait 173 00:10:38,280 --> 00:10:43,080 a little bit more. Father Time is patient and we 174 00:10:43,080 --> 00:10:47,120 have to be as well. So it's just a matter of 175 00:10:47,880 --> 00:10:53,200 figuring out what it is that these institutions really want 176 00:10:53,200 --> 00:10:57,040 to do and what their intentions are, because at this point, 177 00:10:57,080 --> 00:11:00,120 they're the ones with the massive amounts of capital and 178 00:11:00,120 --> 00:11:04,040 it seems like they are in the driver's seat, not retail. 179 00:11:04,360 --> 00:11:07,440 I I got a question for you. Do you think it's, it's over? 180 00:11:07,440 --> 00:11:09,840 Do you let's do a wide shot. Do you think it's over? 181 00:11:09,840 --> 00:11:12,280 Do you think the days of. Sorry guys, I'm pushing buttons. 182 00:11:12,320 --> 00:11:17,120 Do you think the the the the days of of retail driven Bitcoin 183 00:11:17,120 --> 00:11:21,560 cycles are behind us? I think in a in a way, yes, 184 00:11:21,600 --> 00:11:27,200 because in a way I think that we're not going to get the 185 00:11:27,200 --> 00:11:30,000 euphoria, but we're also not going to get these giant dips. 186 00:11:30,000 --> 00:11:34,120 Remember that these institutions like stability, they like 187 00:11:34,200 --> 00:11:37,680 everything to be, you know, controllable in the status quo. 188 00:11:37,680 --> 00:11:41,440 That's not to say that Bitcoin is now going to be completely in 189 00:11:41,440 --> 00:11:43,880 their hands. I think that, you know, retail 190 00:11:43,880 --> 00:11:45,760 still owns the majority of Bitcoin. 191 00:11:45,960 --> 00:11:50,400 Is that right? So it's, it's still, you know. 192 00:11:50,400 --> 00:11:51,600 It is right. It is right? 193 00:11:51,760 --> 00:11:55,480 So I so I don't think that it's going to necessarily be in the 194 00:11:55,480 --> 00:11:59,360 hands or controlled by institutions or BlackRock or the 195 00:11:59,360 --> 00:12:04,360 government, but it's definitely like they're the ones that have 196 00:12:04,360 --> 00:12:05,800 like the majority of the capital. 197 00:12:05,800 --> 00:12:10,360 So it's, it's going to be a lot more stable than we've seen in 198 00:12:10,360 --> 00:12:14,000 previous cycles. And that might mean for the 199 00:12:14,320 --> 00:12:19,320 Bitcoiner who's been holding since 2013, the end of cycles as 200 00:12:19,320 --> 00:12:22,880 we know them. Yeah, I mean, I mean, let's see 201 00:12:22,880 --> 00:12:27,640 though, because, you know, to me, what I'm, what I'm, what I'm 202 00:12:27,640 --> 00:12:34,160 questioning what I'm thinking is, you know, like it it's at 203 00:12:34,160 --> 00:12:37,160 the end of the day, it's it's human nature, right? 204 00:12:37,200 --> 00:12:39,240 It's like cycles are human nature. 205 00:12:39,240 --> 00:12:43,800 It's it's human psychology. And that we just saw this giant 206 00:12:43,800 --> 00:12:46,920 parabola in the gold markets. Gold was trading sideways for 207 00:12:46,920 --> 00:12:50,520 like 10 years and then it went parabolic to the point where 208 00:12:50,520 --> 00:12:55,760 people were lining outside of whatever, wherever it is you go 209 00:12:55,760 --> 00:12:58,400 and buy gold. I wouldn't know, but they were 210 00:12:58,400 --> 00:13:01,880 like making lines to go buy gold while the price of gold was 211 00:13:01,880 --> 00:13:04,280 going up. So again, I, I don't think you 212 00:13:04,280 --> 00:13:09,720 can remove human psychology from markets, right? 213 00:13:09,880 --> 00:13:12,920 Like like every, like every stock eventually, like, unless 214 00:13:12,920 --> 00:13:17,080 the market cap is so big, but even stocks like Tesla, whose 215 00:13:17,080 --> 00:13:21,120 market cap is huge, is extremely volatile, right? 216 00:13:21,160 --> 00:13:23,400 So I, I just, I, I just don't see it. 217 00:13:23,400 --> 00:13:27,600 I think that this year was a very particular, the year where 218 00:13:27,760 --> 00:13:30,680 I think a lot of people had high expectations that Bitcoin was 219 00:13:30,680 --> 00:13:34,200 going to do a certain thing. It didn't, which is exactly what 220 00:13:34,200 --> 00:13:36,800 markets do. I think that there's been a, a 221 00:13:36,800 --> 00:13:41,360 massive amount of cell pressure from individuals that are 222 00:13:41,360 --> 00:13:44,160 cashing out. There's an incredible article 223 00:13:44,880 --> 00:13:47,320 that was written the other day that was basically making the 224 00:13:47,320 --> 00:13:52,680 case that Bitcoin is having its IPO moment where, you know, a 225 00:13:52,680 --> 00:13:56,520 lot of these Ogs that were accumulating at, you know, $5 a 226 00:13:56,520 --> 00:14:00,720 dollar, $100 per coin. They didn't have the liquidity 227 00:14:00,720 --> 00:14:04,280 to cash out earlier on in the earlier cycles without 228 00:14:04,280 --> 00:14:08,200 completely crashing the market and they're taking a little bit 229 00:14:08,200 --> 00:14:10,600 off the top or, or they're just cashing out in general. 230 00:14:10,600 --> 00:14:14,480 Like we saw that with Mike Novogratz and Galaxy where this 231 00:14:14,480 --> 00:14:17,360 dude literally, you know, sold. It was, it was like a crazy 232 00:14:17,360 --> 00:14:19,200 amount. It was like 80,000 Bitcoin 233 00:14:19,960 --> 00:14:25,120 cashing out $9 billion, you know, and then the, the, the 234 00:14:25,120 --> 00:14:29,600 official reason given was for, you know, estate planning, 235 00:14:29,880 --> 00:14:31,600 right? I think that if you have a net 236 00:14:31,600 --> 00:14:37,120 worth of $9 billion and it's all in Bitcoin and a self custodial 237 00:14:37,120 --> 00:14:42,000 wallet, you know, I, I, I look, I'm a bitcoiner and I believe in 238 00:14:42,000 --> 00:14:46,760 self custody. And you know, I, I, I, I'm, I'm 239 00:14:46,760 --> 00:14:49,960 a total advocate for it. And I think I'll, I'll, no, I 240 00:14:49,960 --> 00:14:53,080 will always have Bitcoin in self custody because it's the 241 00:14:53,080 --> 00:14:56,600 ultimate freedom. But again, if you have $9 242 00:14:56,600 --> 00:15:00,920 billion worth of assets, like even for your family's sake, 243 00:15:01,120 --> 00:15:05,000 diversifying just a little bit, you know, perhaps into real 244 00:15:05,000 --> 00:15:09,280 estate, perhaps into, you know, whatever floats your boat. 245 00:15:09,360 --> 00:15:12,440 It's totally valid. It like, you know, maybe you do 246 00:15:12,440 --> 00:15:15,520 want to take a look some chips off the top you've been huddling 247 00:15:15,680 --> 00:15:18,560 at the end of the day like what are you huddling for? 248 00:15:19,000 --> 00:15:22,440 You're huddling for number go up but eventually number goes up 249 00:15:22,440 --> 00:15:24,320 and it's it's not like you're going to sell all your Bitcoin. 250 00:15:24,320 --> 00:15:29,720 I'm never going to sell all my Bitcoin, but like eventually you 251 00:15:29,720 --> 00:15:32,320 want to take a little bit off the top to to upgrade your 252 00:15:32,320 --> 00:15:35,880 lifestyle or fund the business that you want to fund or invest 253 00:15:35,880 --> 00:15:37,520 in the company that you want to invest in. 254 00:15:37,720 --> 00:15:40,240 Eventually it reaches that point, right? 255 00:15:40,320 --> 00:15:45,000 So for these O GS that have 10s of thousands of coins, I think 256 00:15:45,000 --> 00:15:47,920 the point got there where they knew that there was enough 257 00:15:47,920 --> 00:15:50,560 liquidity where they can sell all this Bitcoin into the 258 00:15:50,560 --> 00:15:52,880 market. But I think the surprising part 259 00:15:52,880 --> 00:15:59,560 to me is the fact that Bitcoin has held that 100K price target 260 00:15:59,800 --> 00:16:03,320 extremely well. It's refused to go below 261 00:16:03,320 --> 00:16:06,160 $100,000. And we've had some, we've had 262 00:16:06,160 --> 00:16:09,160 some scares. I think it went to 9898, ninety, 263 00:16:09,160 --> 00:16:13,040 9000, but it shot back up extremely quickly. 264 00:16:13,320 --> 00:16:16,680 So yeah, I don't know. You've been living through this 265 00:16:16,680 --> 00:16:19,720 with me this entire year. We've been talking about this, 266 00:16:19,720 --> 00:16:21,920 bickering about it. So I want to get your thoughts 267 00:16:21,920 --> 00:16:22,440 on that. So. 268 00:16:23,000 --> 00:16:24,960 I wouldn't say that we were bickering about it. 269 00:16:24,960 --> 00:16:29,120 I would say maybe. Maybe I was the one bickering. 270 00:16:31,160 --> 00:16:33,480 I would say that we were, we were just worried because it 271 00:16:33,480 --> 00:16:37,040 wasn't meeting our expectations. And it's totally valid for these 272 00:16:37,040 --> 00:16:40,280 people to take money out. You know, the purpose of money 273 00:16:40,280 --> 00:16:43,560 isn't for it to just sit there and be a number on a screen. 274 00:16:43,760 --> 00:16:49,080 The purpose of money, aside from it hopefully holding its value, 275 00:16:49,360 --> 00:16:54,720 which is what Bitcoin tries to to or is achieving it's to 276 00:16:54,720 --> 00:16:58,720 actually enjoy it and to actually use it so that you can 277 00:16:58,720 --> 00:17:02,680 enjoy it with like the things that it can afford you, right. 278 00:17:02,680 --> 00:17:06,520 It's so that you can buy hopefully like that home or that 279 00:17:06,520 --> 00:17:10,319 second home so that you can maybe in like your 60s, buy a 280 00:17:10,319 --> 00:17:12,720 yacht, don't buy a yacht. It's like the worst idea ever, 281 00:17:12,720 --> 00:17:15,560 but you know what I mean? Like you want to buy that thing 282 00:17:15,560 --> 00:17:18,280 that you've always dreamed of and you want to enjoy it. 283 00:17:18,280 --> 00:17:22,040 And and that's the, you know, purpose of money, especially 284 00:17:22,040 --> 00:17:26,079 like later on in life or you want to give your kids an 285 00:17:26,079 --> 00:17:30,000 education, you want to, you know, move to a different 286 00:17:30,000 --> 00:17:32,520 country. There's a lot of reasons why 287 00:17:32,520 --> 00:17:35,240 people might cash out. Obviously that amount you're 288 00:17:35,240 --> 00:17:38,720 going to assume that they're trying to go for something a 289 00:17:38,720 --> 00:17:42,680 little bit, you know, more luxurious in the billions, but. 290 00:17:44,040 --> 00:17:46,160 And I can't. It kind of all depends though, 291 00:17:46,440 --> 00:17:48,040 right? It kind of all depends, you 292 00:17:48,040 --> 00:17:50,960 know, cuz like it, it all depends on your taste, right? 293 00:17:50,960 --> 00:17:52,760 It all depends on what you're trying to get out of your life. 294 00:17:52,760 --> 00:17:55,440 But personally I don't. Know the the message, The 295 00:17:55,440 --> 00:17:59,040 message I want to get across though, is like, at the end of 296 00:17:59,040 --> 00:18:03,000 the day, money's a tool, right? So like people are different, 297 00:18:03,000 --> 00:18:05,760 people like different things. Some people like fast cars, some 298 00:18:05,760 --> 00:18:09,400 people like yachts, some people like planes, some people don't 299 00:18:09,400 --> 00:18:11,360 like those things. Some people are much more 300 00:18:11,360 --> 00:18:13,560 simple. I know people that have a lot of 301 00:18:13,560 --> 00:18:16,280 money and they literally dress exactly the same. 302 00:18:16,560 --> 00:18:19,640 They're super chill, they fly commercial and they just don't 303 00:18:19,640 --> 00:18:21,600 care. But fundamentally, at the end of 304 00:18:21,600 --> 00:18:24,480 the day, money is a tool. Like that's what money is for, 305 00:18:24,720 --> 00:18:27,400 right? And like you're not going to be 306 00:18:27,400 --> 00:18:29,680 able to take your Bitcoin with you, right? 307 00:18:29,800 --> 00:18:34,080 So eventually you're going to use that tool to fund, right, 308 00:18:34,120 --> 00:18:36,160 Whatever it is that you're trying to get out of life. 309 00:18:36,160 --> 00:18:39,560 Again, whether that's, you know, the more materialistic things, 310 00:18:39,760 --> 00:18:42,880 whether that's a 'cause that you're, you're you, you want to, 311 00:18:43,000 --> 00:18:46,760 you know, get behind, whether that's a spiritual thing, right? 312 00:18:46,760 --> 00:18:50,000 That you want to get behind it. It it's it's very personal. 313 00:18:50,000 --> 00:18:53,360 It's very personal to you. And I completely understand that 314 00:18:53,360 --> 00:18:58,040 if you've been holding Bitcoin for, you know, 15 years, it kind 315 00:18:58,040 --> 00:19:01,720 of makes sense for you to take a little bit off the top, right? 316 00:19:02,720 --> 00:19:08,720 But anyways, here's another clip of again of of of a Coinbase 317 00:19:08,720 --> 00:19:11,920 executive talking about institutions and sovereign 318 00:19:11,960 --> 00:19:15,520 wealth funds piling in. Instead of that was occurring so 319 00:19:15,520 --> 00:19:19,040 institutions sovereigns patient pools of capital were piling in 320 00:19:19,040 --> 00:19:23,080 during April which which resulted in about a 13% increase 321 00:19:23,080 --> 00:19:27,120 in Bitcoin versus 10 1/2 for gold and retail via the ETF 322 00:19:27,120 --> 00:19:28,800 we're exiting. So you got kind of asked 323 00:19:28,800 --> 00:19:30,720 yourself, what do the institutions know where the? 324 00:19:30,720 --> 00:19:33,560 Institutions buying Bitcoin direct. 325 00:19:34,560 --> 00:19:38,360 And how many of them are now buying via ETFs or other forms? 326 00:19:38,840 --> 00:19:41,080 Well, hard to say they don't, especially the sovereign wealth 327 00:19:41,080 --> 00:19:42,400 funds don't report right now, but you're. 328 00:19:42,400 --> 00:19:45,760 Also, I imagine seeing the ETFs buying because the ETF should be 329 00:19:45,760 --> 00:19:47,160 buying in. The last couple of days. 330 00:19:47,360 --> 00:19:49,720 But the ETF should be buying on a relative basis on behalf of 331 00:19:49,720 --> 00:19:52,520 their customer base. Right, assuming there were 332 00:19:52,520 --> 00:19:54,320 inflows, right, But the last couple last couple days, yes, 333 00:19:54,320 --> 00:19:57,520 we've had but still as of yesterday could change today 334 00:19:57,720 --> 00:19:59,760 we've had net negative ETF inflows. 335 00:19:59,760 --> 00:20:02,600 So this the first reason is the dollarization. 336 00:20:02,600 --> 00:20:05,680 The second reason is this tech unwinding of this big levered 337 00:20:05,680 --> 00:20:09,280 tech trade and Bitcoin trading on its core characteristics, 338 00:20:09,280 --> 00:20:11,800 which again are similar to gold, you've got scarcity, 339 00:20:11,800 --> 00:20:14,560 immutability, non sovereign asset portability. 340 00:20:14,840 --> 00:20:18,200 So trading the way. People who believe in Bitcoin 341 00:20:18,200 --> 00:20:21,200 would like it to trade. The last was to me the most 342 00:20:21,200 --> 00:20:23,840 interesting, which is spoke to a couple of traders who said, 343 00:20:23,840 --> 00:20:26,800 look, if you, if you believe these conditions, these de 344 00:20:26,800 --> 00:20:30,280 dollarization conditions are going to persist, you're looking 345 00:20:30,280 --> 00:20:32,640 at gold obviously first and foremost, but maybe you missed 346 00:20:32,640 --> 00:20:34,840 out on that trade. You're looking at that rally and 347 00:20:34,840 --> 00:20:36,640 saying I missed the, I missed the boat on that. 348 00:20:37,280 --> 00:20:40,640 So what other assets could participate in that market 349 00:20:40,640 --> 00:20:42,240 panic, long term inflation hedge? 350 00:20:42,600 --> 00:20:46,000 When you do the work, there's a very short list of assets that 351 00:20:46,000 --> 00:20:47,680 mirror the characteristics of gold. 352 00:20:48,160 --> 00:20:50,560 Bitcoin is on that short list in addition to the four 353 00:20:50,560 --> 00:20:53,720 characteristics I mentioned. It's mining scarcity. 354 00:20:53,720 --> 00:20:55,840 It's mining difficulty gets harder over time. 355 00:20:56,040 --> 00:20:57,840 Yeah. And you can add two or three 356 00:20:57,840 --> 00:21:01,520 more good things about Bitcoin that you didn't even mention. 357 00:21:01,520 --> 00:21:06,040 So I mean, maybe it never is used to wire money or whatever 358 00:21:06,040 --> 00:21:09,240 you want to call it over to. To the Far East or something. 359 00:21:09,240 --> 00:21:11,360 But you certainly can do it instantaneously. 360 00:21:11,360 --> 00:21:13,520 Frictionless and you can do it overnight. 361 00:21:13,560 --> 00:21:15,520 And you don't have to in gold. I mean, you bet. 362 00:21:15,560 --> 00:21:17,360 It's heavy. You better store it. 363 00:21:17,560 --> 00:21:19,600 You better insure it. I mean, there's a lot of things. 364 00:21:19,640 --> 00:21:24,520 Portability isn't under looked at, it's under emphasized skill 365 00:21:24,840 --> 00:21:27,360 asset. It's very, very hard to 366 00:21:27,360 --> 00:21:29,240 transport lots of large amounts of cash. 367 00:21:29,240 --> 00:21:31,400 It's very, very hard to transport large amounts of gold. 368 00:21:31,920 --> 00:21:35,600 You can't put $400 million of gold on a small disk drive, tuck 369 00:21:35,600 --> 00:21:37,880 it under your arm and move if you need to. 370 00:21:39,160 --> 00:21:41,480 So I do want to address a lot of the comments, right? 371 00:21:41,480 --> 00:21:43,560 Clearly I triggered a lot of people. 372 00:21:44,520 --> 00:21:47,560 So yes, you can take your Bitcoin with you. 373 00:21:47,600 --> 00:21:51,160 Yeah, I mean, technically you totally can if you don't tell 374 00:21:51,160 --> 00:21:57,080 anybody your private keys, you know, and and you pass away like 375 00:21:57,440 --> 00:21:59,680 you know that Bitcoin is. Yeah, I was going to say I would 376 00:21:59,680 --> 00:22:04,760 definitely not sell my Bitcoin as an inheritance plan because 377 00:22:05,080 --> 00:22:07,000 they can tax that inheritance plan. 378 00:22:07,280 --> 00:22:08,680 They can. What do you what do you mean 379 00:22:08,680 --> 00:22:10,360 sell it as an? Inheritance like you. 380 00:22:10,480 --> 00:22:13,400 You mentioned a lot of like these people who are older like. 381 00:22:13,680 --> 00:22:15,720 So but but it was estate planning to be. 382 00:22:15,720 --> 00:22:18,240 Specific estate planning, well, yes, sorry like inheritance 383 00:22:18,240 --> 00:22:24,040 planning, but estate planning they will, they will tax you for 384 00:22:24,120 --> 00:22:25,800 for. No, I mean, but I think there's 385 00:22:25,800 --> 00:22:30,440 ways to do it with the trust. There are very few ways, very, 386 00:22:30,440 --> 00:22:33,280 very few ways that you know you not every. 387 00:22:33,920 --> 00:22:38,280 Yes, there are ways. However, what better way than to 388 00:22:38,280 --> 00:22:42,720 leave your family the Bitcoin that you already stacked for 389 00:22:42,720 --> 00:22:45,120 years and years? Yeah, but I mean, it's that's a 390 00:22:45,120 --> 00:22:48,440 good point. But again, technically right, 391 00:22:48,880 --> 00:22:55,200 Like legally speaking, if you pass away and you have $9 392 00:22:55,200 --> 00:22:59,400 billion worth of Bitcoin and that gets passed on to your 393 00:22:59,400 --> 00:23:02,800 family members you own, you owe taxes on that. 394 00:23:03,480 --> 00:23:06,120 Right. Even if it's in self custody. 395 00:23:06,160 --> 00:23:09,560 Of course, yeah. So if you pass away, sorry, like 396 00:23:09,920 --> 00:23:12,280 really? Yes, of course, that's the law. 397 00:23:12,560 --> 00:23:16,800 Oh man. Like, OK, like you can be shady 398 00:23:16,800 --> 00:23:20,720 about it and you can like break the law and like, just say, OK, 399 00:23:20,720 --> 00:23:23,000 here are the words and, you know, whatever. 400 00:23:23,000 --> 00:23:27,000 But like, as the law stands right now, if you pass on 401 00:23:27,000 --> 00:23:32,840 Bitcoin, like if you pass away and you get and you leave your 402 00:23:32,840 --> 00:23:37,840 Bitcoin to your, you know, to your relatives and it's above, I 403 00:23:37,840 --> 00:23:40,640 think the threshold is $13 million, which is a lot of 404 00:23:40,640 --> 00:23:42,760 money. It's a lot of money, right? 405 00:23:43,920 --> 00:23:46,520 But this person had $9 billion, right? 406 00:23:46,840 --> 00:23:50,720 So imagine paying 9 billion, half of $9 billion to the 407 00:23:50,720 --> 00:23:55,120 government. That's the that's the estate 408 00:23:55,120 --> 00:23:56,760 tax. Got it, got it, got it. 409 00:23:56,800 --> 00:23:59,520 So if you're thinking about it, if you've been holding on 410 00:23:59,520 --> 00:24:04,560 Bitcoin for like 17 years, right, and you started stacking 411 00:24:04,560 --> 00:24:10,280 when you're 20 and now you're like 37404550 and you're like 412 00:24:10,280 --> 00:24:14,600 listen, like like even if you didn't sell the whole stack, 413 00:24:14,600 --> 00:24:18,400 you're thinking OK, like I got to start thinking I I got it 414 00:24:18,400 --> 00:24:21,720 literally he give the reason I. Got I mean, I, I, I love this 415 00:24:21,720 --> 00:24:23,320 comment. I love this comment. 416 00:24:23,320 --> 00:24:25,520 How would they even know? No, no, no. 417 00:24:25,560 --> 00:24:29,120 I mean, this is totally true. This is totally true, right? 418 00:24:29,280 --> 00:24:31,760 Like it like we're going to talk about this like later on during 419 00:24:31,760 --> 00:24:36,520 the show where there's a recent law in Europe that by 2027 420 00:24:36,520 --> 00:24:41,160 they're going to be banning 10,000 any, any cash transaction 421 00:24:41,160 --> 00:24:46,000 over $10,000, sorry, €10,000 in Europe is gonna be banned in 422 00:24:46,000 --> 00:24:50,480 2027. We actually posted yesterday on 423 00:24:50,480 --> 00:24:55,680 the Simply Bitcoin X account, how that relates also to Bitcoin 424 00:24:55,680 --> 00:24:58,600 and crypto in general, Bitcoin and crypto transactions in 425 00:24:58,600 --> 00:25:01,040 general, and where this is this is going. 426 00:25:01,200 --> 00:25:03,200 And if you think it's a coincidence that this is 427 00:25:03,200 --> 00:25:07,920 happening while they'll while they are simultaneously talking 428 00:25:07,920 --> 00:25:12,080 about launching ACBDC, you have your head buried in the sand and 429 00:25:12,080 --> 00:25:14,240 you're not really paying attention to what's happening. 430 00:25:14,600 --> 00:25:20,080 But I will say is that like, yeah, I think it gets to a point 431 00:25:20,080 --> 00:25:25,960 where, you know, look, if you have $9 billion of Bitcoin and 432 00:25:25,960 --> 00:25:29,600 you have a family, you know, you're, you're thinking about 433 00:25:29,680 --> 00:25:32,800 like, OK, like. Yeah, I made it. 434 00:25:32,960 --> 00:25:33,760 I made it. No. 435 00:25:33,880 --> 00:25:35,080 But it's not, it's not only that. 436 00:25:35,080 --> 00:25:36,120 It's like you're thinking about it. 437 00:25:36,120 --> 00:25:38,760 You're like, OK, like, what if something happens to me? 438 00:25:39,120 --> 00:25:42,800 You know, technically my family's on the hook for 50% of 439 00:25:42,800 --> 00:25:44,800 this if they want to follow the law. 440 00:25:47,080 --> 00:25:50,320 Damn. So, yeah, I mean, and, and a, 441 00:25:50,440 --> 00:25:54,200 and a way you can mitigate, mitigate, you can mitigate that 442 00:25:54,200 --> 00:25:58,280 is through trust. If you set up a trust, then you 443 00:25:58,280 --> 00:26:02,720 know, you can legally, you know, get out of, you're not really 444 00:26:02,720 --> 00:26:06,920 getting out of it, but you can tax optimize that situation. 445 00:26:07,840 --> 00:26:11,080 And I think with that amount of money, I think that's a serious 446 00:26:11,080 --> 00:26:14,560 consideration for people. OK, well, now you know. 447 00:26:14,920 --> 00:26:18,240 But I, I see, I see a lot of people in the chat just like, 448 00:26:18,440 --> 00:26:19,880 look, I'm taking it to the grave. 449 00:26:19,880 --> 00:26:22,400 I'm definitely taking some Bitcoin to the grave for sure. 450 00:26:24,640 --> 00:26:27,600 But I see a lot of people saying I'm never selling. 451 00:26:27,600 --> 00:26:29,640 It's like, OK, like I completely agree. 452 00:26:29,640 --> 00:26:32,400 Like I'm I'm never selling. Like what are you going to sell 453 00:26:32,400 --> 00:26:35,280 Bitcoin for? You're going to sell Bitcoin for 454 00:26:35,280 --> 00:26:37,640 an inferior asset. So I completely agree with you 455 00:26:37,640 --> 00:26:40,680 there, but at the same time, you're not paying attention to 456 00:26:41,040 --> 00:26:44,520 what if what if you've been holding Bitcoin for 17 years, 457 00:26:44,840 --> 00:26:47,120 right? And what if you do want to get a 458 00:26:47,120 --> 00:26:49,360 better house? What if you you know, I see 459 00:26:49,360 --> 00:26:53,000 someone in the chat talking about paying off my daughter's 460 00:26:53,000 --> 00:26:57,080 student loans when it finally hit up 100,000 as promised them 461 00:26:57,080 --> 00:26:59,520 was priceless to me. Now they believe in the power of 462 00:26:59,520 --> 00:27:03,800 Bitcoin, like, you know, Bitcoin is not an investment, it's an 463 00:27:03,800 --> 00:27:05,480 exit. I completely agree with all of 464 00:27:05,480 --> 00:27:07,320 those things. But at the end of the day, 465 00:27:07,320 --> 00:27:10,680 someone's in the chat says bro lost future millions to pay off 466 00:27:10,680 --> 00:27:13,360 student loans early. Like that's the thing. 467 00:27:13,360 --> 00:27:16,080 Like guys like, I think, I think I want you guys to understand is 468 00:27:16,080 --> 00:27:21,960 that like at the end of the day, look like your life isn't an 469 00:27:21,960 --> 00:27:24,640 eternity. Like life, you know, you, you, 470 00:27:24,800 --> 00:27:27,800 you know, with like there, there's a certain amount of 471 00:27:27,800 --> 00:27:30,280 years that you're going to live. Eventually you're going to want 472 00:27:30,280 --> 00:27:33,440 to live a little bit, right? I understand if you're in the 473 00:27:33,440 --> 00:27:36,600 first years of stacking, that makes perfect sense, But 474 00:27:36,600 --> 00:27:38,600 eventually you're going to want to live out, you're going to 475 00:27:38,600 --> 00:27:39,960 want to live a little bit, right? 476 00:27:40,600 --> 00:27:43,480 Does that mean you're going to sell your Bitcoin or you know, 477 00:27:43,480 --> 00:27:46,280 I've seen some people do this. I personally would I, I actually 478 00:27:46,280 --> 00:27:50,120 don't own any Bitcoin, but if I did own any Bitcoin, I 479 00:27:50,120 --> 00:27:54,520 personally wouldn't sell that Bitcoin to buy an ETF or 480 00:27:54,520 --> 00:27:57,680 anything. But you know, to each their own, 481 00:27:57,760 --> 00:27:59,880 like to each their own. Everyone has a different risk 482 00:27:59,880 --> 00:28:01,800 profile. Like I will say, if you have 483 00:28:01,800 --> 00:28:07,680 billions of dollars of Bitcoin in self custody, boy do that 484 00:28:07,680 --> 00:28:11,440 self custody setup must must be really, really, really good. 485 00:28:11,760 --> 00:28:14,600 Oh yeah, no. And talk about people who might 486 00:28:14,600 --> 00:28:18,760 not even be able to sleep at night because because of their 487 00:28:18,760 --> 00:28:22,960 setup, you know, maybe some people after holding for a 488 00:28:22,960 --> 00:28:26,760 really long time just kind of want the convenience and the, 489 00:28:26,880 --> 00:28:30,680 you know, I saw this really cute meme the other day and it was a 490 00:28:30,680 --> 00:28:35,200 bunch of whales like or like it was a picture of whales giving, 491 00:28:35,200 --> 00:28:38,520 you know, passing on that Bitcoin to the next generation 492 00:28:38,520 --> 00:28:40,720 of Bitcoiners. And I think there's some truth 493 00:28:40,720 --> 00:28:44,600 to that because, you know, Pete, there's still so many more 494 00:28:44,600 --> 00:28:47,600 people who could benefit from Bitcoin. 495 00:28:47,840 --> 00:28:52,680 And these people have kind of gotten to the end of their rope. 496 00:28:53,400 --> 00:28:56,640 I, I would say $9 billion is the end of your rope. 497 00:28:57,240 --> 00:29:01,000 And now they get to, you know, enjoy their Fiat, enjoy their, 498 00:29:01,040 --> 00:29:05,240 you know, whatever the inheritance and estate planning 499 00:29:05,240 --> 00:29:09,200 stuff I had no idea of. So now, you know, but you know, 500 00:29:09,200 --> 00:29:13,320 some people, there's also people who have like loved ones in 501 00:29:13,320 --> 00:29:17,880 hospitals or who have like emergency situations where they 502 00:29:18,240 --> 00:29:21,840 need to pay off like certain debts or they need it to save 503 00:29:21,840 --> 00:29:25,720 somebody's life. So, you know, it's, it's what 504 00:29:25,720 --> 00:29:27,600 Nico said. Everybody has a different risk 505 00:29:27,600 --> 00:29:29,240 profile. Everybody has a different 506 00:29:29,240 --> 00:29:32,120 purpose for why they need the money that they need. 507 00:29:32,120 --> 00:29:37,240 And you know, we can't judge. We can only hope that future 508 00:29:37,240 --> 00:29:42,080 generations buy buy Bitcoin. It's their Bitcoin to sell, 509 00:29:42,080 --> 00:29:43,680 right? And another thing too, like I 510 00:29:43,680 --> 00:29:46,960 see it in the chat, right? Like you can borrow against your 511 00:29:46,960 --> 00:29:50,920 Bitcoin, like one of our, one of our partners LED in like they're 512 00:29:50,920 --> 00:29:52,920 fantastic. Like you can borrow, you can 513 00:29:52,920 --> 00:29:54,680 borrow against your Bitcoin. But I will say is like be 514 00:29:54,680 --> 00:29:56,880 careful with that, right? Because they're, you know, 515 00:29:57,160 --> 00:29:59,560 Bitcoin's extremely volatile and like, you don't want to get 516 00:29:59,560 --> 00:30:01,000 margin called. But yeah. 517 00:30:01,160 --> 00:30:03,800 Well, not anymore. It's not as volatile as. 518 00:30:04,200 --> 00:30:06,600 We want I. Know Bitcoin bitcoin's become a 519 00:30:06,600 --> 00:30:10,160 stable coin clearly but before it became a stable coin it was 520 00:30:10,160 --> 00:30:14,200 volatile I also think that this year's a fluke so like this 521 00:30:14,200 --> 00:30:16,880 year's a fluke like. Is it really though? 522 00:30:17,240 --> 00:30:19,520 I think it's all part of the process. 523 00:30:19,800 --> 00:30:24,640 It's not so much a fluke so much as it is part of hyper 524 00:30:24,640 --> 00:30:27,640 bitcoinization. It's part of what happens when 525 00:30:27,640 --> 00:30:32,480 these institutions finally buy in and they decide to, you know, 526 00:30:32,480 --> 00:30:35,960 become part of the movement, Not because they want the 527 00:30:35,960 --> 00:30:39,480 revolution, mind you. You always like we're still in 528 00:30:39,480 --> 00:30:43,840 the fight them stage in my opinion, but this is what 529 00:30:43,840 --> 00:30:45,760 happens. Things start to slow down. 530 00:30:45,960 --> 00:30:50,560 You you kind of see the same thing when people went out West 531 00:30:50,560 --> 00:30:54,480 to California to mine gold. There was this huge rush and 532 00:30:54,480 --> 00:30:57,280 then all of a sudden a bunch of people owned gold. 533 00:30:57,480 --> 00:31:02,640 The government, you know, had it as what backed our currency and 534 00:31:03,080 --> 00:31:06,680 you know it the the price started stabilizing until now 535 00:31:06,680 --> 00:31:09,880 until it ran up to $4000 an ounce. 536 00:31:10,800 --> 00:31:14,560 I mean, the price, the price of gold did go sideways for what it 537 00:31:14,560 --> 00:31:17,360 was like a decade, which was pretty crazy. 538 00:31:18,000 --> 00:31:21,520 And then all of a sudden it had its parabolic movement and the 539 00:31:21,520 --> 00:31:25,160 NASDAQ was pumping too, while Bitcoin was going sideways. 540 00:31:25,160 --> 00:31:27,080 While Bitcoin has been going sideways. 541 00:31:27,080 --> 00:31:29,560 Like that's obviously not a good feeling. 542 00:31:29,560 --> 00:31:32,720 I see someone in the chat, very good observation. 543 00:31:32,720 --> 00:31:37,480 Q4 is is not over. This is true, but I will say is 544 00:31:37,480 --> 00:31:41,920 that I think the lesson of this cycle is like, you know, don't 545 00:31:41,920 --> 00:31:43,640 have any expectations in Bitcoin. 546 00:31:43,640 --> 00:31:47,040 I think, I think that's a bad, but I think it's a, it's a 547 00:31:47,040 --> 00:31:48,520 combination. It's. 548 00:31:48,520 --> 00:31:51,440 About don't have any expectations in life, actually 549 00:31:52,080 --> 00:31:54,000 you'll be a whole lot better if you just. 550 00:31:54,000 --> 00:31:55,880 I think you should have expect. I think you should have 551 00:31:55,880 --> 00:31:57,680 aspiration. You should have aspirations but 552 00:31:57,680 --> 00:32:01,120 not expectations. I think expectations will screw 553 00:32:01,120 --> 00:32:04,680 you over for sure. Okay, okay, some wisdom, some 554 00:32:04,680 --> 00:32:06,720 wisdom dropping. The Mom wisdom. 555 00:32:06,800 --> 00:32:10,320 Anyways, guys, it's going to be an incredible show. 556 00:32:10,320 --> 00:32:13,040 I think this is the first show that me that that Sophie and I 557 00:32:13,040 --> 00:32:16,680 do the do the the the show and the studio together. 558 00:32:17,000 --> 00:32:20,560 This is this is fun. This is interesting some husband 559 00:32:20,560 --> 00:32:24,600 wife type of content. So I'm enjoying it. 560 00:32:25,240 --> 00:32:27,960 People in the chat says don't borrow against your whole stack. 561 00:32:27,960 --> 00:32:29,480 Yeah, that that's absolutely reckless. 562 00:32:29,480 --> 00:32:32,160 I would say don't take out more than 5%. 563 00:32:32,200 --> 00:32:35,040 I would say anything above that is starting to get into 564 00:32:35,440 --> 00:32:39,000 dangerous territory if you are to take a a a a Bitcoin 565 00:32:39,000 --> 00:32:42,000 collateralized loan. But again, everyone has their 566 00:32:42,320 --> 00:32:47,480 their risk risk tolerance like SAT wise Janks says far against 567 00:32:47,480 --> 00:32:50,160 your Bitcoin. If it ever drops 50% when it 568 00:32:50,160 --> 00:32:53,080 pumps again, you will you will greatly reduce the debt 569 00:32:53,280 --> 00:32:54,840 percentage against the value of Bitcoin. 570 00:32:54,840 --> 00:32:59,080 No way to be liquidated. Yeah, again, you just have to be 571 00:32:59,080 --> 00:33:02,280 you have to be extremely responsible if you are going to 572 00:33:02,280 --> 00:33:04,640 take a Bitcoin collateralized loan. 573 00:33:05,520 --> 00:33:09,000 We, we've done so I, I think it's a, it's a, it's a fantastic 574 00:33:09,000 --> 00:33:11,000 product, product by our friends over at Leaden. 575 00:33:12,160 --> 00:33:14,400 But anyways, guys, it's going to be a great show. 576 00:33:14,400 --> 00:33:16,640 We have to talk about, we're going to be talking about lots 577 00:33:16,640 --> 00:33:20,640 of things today. But before we do that, I do want 578 00:33:20,640 --> 00:33:24,160 to give a very special shout out to, of course, our lead sponsor, 579 00:33:24,480 --> 00:33:26,840 bitcoinwell.com. Best place to build your 580 00:33:26,840 --> 00:33:28,800 automatic self custody Bitcoin stack? 581 00:33:29,000 --> 00:33:32,600 Go to bitcoinwell.com/simply Bitcoin today. 582 00:33:32,880 --> 00:33:36,200 You'll get 3 points towards the Bitcoin wishing well contest. 583 00:33:36,320 --> 00:33:39,320 What makes Bitcoin well different and differentiates 584 00:33:39,320 --> 00:33:42,240 them from all the West is that it's a self. 585 00:33:42,240 --> 00:33:44,720 It's an automatic self custody Bitcoin on ramp. 586 00:33:44,720 --> 00:33:47,000 What does that mean? That means that they don't even 587 00:33:47,000 --> 00:33:49,520 let you keep your Bitcoin on the exchange. 588 00:33:49,720 --> 00:33:52,840 As soon as you buy Bitcoin on Bitcoin well, the funds clear. 589 00:33:52,960 --> 00:33:55,920 It goes straight to yourself. Custody Bitcoin wallet address. 590 00:33:56,160 --> 00:33:59,840 If you are a higher net worth individual, a family office, a 591 00:33:59,840 --> 00:34:04,040 trust or an organization, check out Bitcoin Well infinite. 592 00:34:04,040 --> 00:34:07,680 To get started, go to bitcoinwell.com/OTC. 593 00:34:08,040 --> 00:34:12,560 It's a white glove service that is designed to help you take 594 00:34:12,679 --> 00:34:16,840 your Bitcoin, buy Bitcoin directly to self custody and 595 00:34:16,840 --> 00:34:20,040 again, it's designed for people that are trying to buy $50,000 596 00:34:20,239 --> 00:34:22,880 worth of Bitcoin or more. Again, go to 597 00:34:22,880 --> 00:34:26,600 bitcoinwell.com/OTC. To get started today. 598 00:34:26,840 --> 00:34:28,520 All right, everybody. We're going to be right back in 599 00:34:28,520 --> 00:34:30,280 just a bit. We're going to start the show. 600 00:34:30,400 --> 00:34:33,000 We have tons of things to talk about. 601 00:34:33,239 --> 00:34:35,719 The government shutdown finally finished. 602 00:34:35,920 --> 00:34:38,040 Is that going to cause the price to pump? 603 00:34:38,040 --> 00:34:43,520 Maybe. Also, square block of announced 604 00:34:43,520 --> 00:34:49,800 that finally 4 million merchants all around the world are going 605 00:34:49,800 --> 00:34:54,840 to have the ability to, they're going to have the ability to 606 00:34:54,840 --> 00:34:58,920 start receiving payments in Bitcoin. 607 00:34:59,320 --> 00:35:03,160 That's right. That is a huge, huge 608 00:35:03,200 --> 00:35:05,920 announcement that we're going to talk about. 609 00:35:06,160 --> 00:35:09,880 And then during the news segment, we're going to be 610 00:35:09,880 --> 00:35:15,760 talking about, again, the EU, the EU cash ban, how it's 611 00:35:15,760 --> 00:35:19,480 related to central bank digital currencies, where this is going. 612 00:35:19,640 --> 00:35:22,800 And then during the culture segment, I think Sophie and I 613 00:35:22,800 --> 00:35:25,120 are just going to be talking about, you know, this crazy 614 00:35:25,120 --> 00:35:27,840 journey that we've gone through together. 615 00:35:28,040 --> 00:35:31,400 We've been basically together almost our entire lives, but 616 00:35:31,520 --> 00:35:35,320 this crazy journey that we've been together, you know, kind of 617 00:35:35,320 --> 00:35:39,560 navigating the Bitcoin industry, the Bitcoin sphere, how that's 618 00:35:39,560 --> 00:35:42,000 been, how we've grown in the process. 619 00:35:42,760 --> 00:35:45,200 So I think the culture segment's going to be fantastic too. 620 00:35:45,480 --> 00:35:47,120 So you guys are? Going to want to stay tuned in. 621 00:35:47,240 --> 00:35:49,240 We're going to be right back. In just a bit. 622 00:35:56,760 --> 00:35:58,840 I want to give a shout out to our partner Stamp Seed. 623 00:35:59,080 --> 00:36:01,520 Is your Bitcoin and cold storage really secure? 624 00:36:01,800 --> 00:36:04,040 Are your seed phrases really secure? 625 00:36:04,360 --> 00:36:07,800 Stamp Seeds Do It Yourself Kit has everything you'll need for 626 00:36:07,800 --> 00:36:11,640 you to hammer your seed words into commercial grade titanium 627 00:36:11,640 --> 00:36:14,680 plates instead of just writing them down on paper. 628 00:36:14,800 --> 00:36:18,520 Paper is fragile, Titanium plates are strong. 629 00:36:18,720 --> 00:36:20,840 Your. Words are actually stamped into 630 00:36:20,840 --> 00:36:24,840 the titanium plate with this hammer and these letter stamping 631 00:36:24,840 --> 00:36:27,120 tools. Once the words are in, they 632 00:36:27,120 --> 00:36:30,520 aren't going anywhere. No risk of the plate breaking 633 00:36:30,520 --> 00:36:32,800 apart and pieces falling everywhere. 634 00:36:32,920 --> 00:36:36,440 Titanium stamp seeds will survive nearly triple the heat 635 00:36:36,440 --> 00:36:39,120 produced by a house fire. They're also crush proof, 636 00:36:39,280 --> 00:36:42,160 waterproof, non corrosive, and time proof. 637 00:36:42,360 --> 00:36:46,240 And now you can customize your titanium seed plates. 638 00:36:46,400 --> 00:36:50,920 You can upload your design or logo and they will laser engrave 639 00:36:50,920 --> 00:36:54,320 it on the back of your seed plate, the opposite side of 640 00:36:54,320 --> 00:36:57,880 where the words are. Stamp your seed code simply to 641 00:36:58,000 --> 00:37:02,520 get 15% off anything on the Stamp se-ed.com store. 642 00:37:07,080 --> 00:37:10,880 All right, everybody. Scan the QR code right now on 643 00:37:10,880 --> 00:37:12,680 your screen. It'll take you directly to 644 00:37:12,720 --> 00:37:15,520 stampse-ed.com. Use promo code simply. 645 00:37:15,600 --> 00:37:20,360 Again, promo code simply to get 15% off anything on the store. 646 00:37:20,680 --> 00:37:25,320 At the time of recording, the Bitcoin price is $105,980 Block 647 00:37:25,320 --> 00:37:32,480 height 920 Twenty 3032 market cap 2.11 trillion Bitcoin versus 648 00:37:32,480 --> 00:37:38,600 gold market cap 7.28% decline from all time high -16% If 649 00:37:38,600 --> 00:37:42,680 you're buying Bitcoin right now, you're getting it at a 16% 650 00:37:42,720 --> 00:37:47,320 discount. 16% discount. Anyways, I want to play you guys 651 00:37:47,320 --> 00:37:50,960 this video again, huge announcement in terms of hyper 652 00:37:50,960 --> 00:37:53,760 Bitcoin ization, Bitcoin adoption. 653 00:37:54,200 --> 00:37:56,320 I'm going to play the video and then of course Sophie and I will 654 00:37:56,320 --> 00:38:04,160 talk about it. Bitcoin can help diversify how 655 00:38:04,160 --> 00:38:07,760 you spend, save and invest in your business, especially when 656 00:38:07,760 --> 00:38:10,360 every swipe of a credit card eats away at your bottom line. 657 00:38:10,720 --> 00:38:12,560 Let's say you run a local grocery chain. 658 00:38:12,720 --> 00:38:16,040 Most purchases are small, like a bag of produce or a gallon of 659 00:38:16,040 --> 00:38:19,080 milk, so credit card fees start to add up fast. 660 00:38:19,720 --> 00:38:23,000 But Square, You can now accept Bitcoin with zero payment 661 00:38:23,000 --> 00:38:26,120 processing fees, no chargebacks, and your instant access to 662 00:38:26,120 --> 00:38:28,480 funds. And you choose how money settles 663 00:38:28,480 --> 00:38:32,520 into your account, whether in USD or Bitcoin, instantly and 664 00:38:32,600 --> 00:38:33,800 right from your Square dashboard. 665 00:38:34,600 --> 00:38:37,280 Whether you're aiming for short term goals or planning for the 666 00:38:37,280 --> 00:38:39,840 long haul, you can automatically convert a percentage of your 667 00:38:39,840 --> 00:38:43,040 daily card sales into Bitcoin. No extra steps, no added 668 00:38:43,040 --> 00:38:45,520 complexity. It's a smart, seamless way to 669 00:38:45,520 --> 00:38:47,960 build savings in the background, all while keeping your 670 00:38:47,960 --> 00:38:49,440 day-to-day cash flow predictable. 671 00:38:50,000 --> 00:38:53,240 And when tax time comes, you'll get the paperwork you need right 672 00:38:53,240 --> 00:38:55,160 where you find your reports and bank statements. 673 00:38:55,920 --> 00:38:58,680 Bitcoin is just another way for you to take control of how your 674 00:38:58,680 --> 00:39:02,720 business makes and spends money. Enable Bitcoin payments and 675 00:39:02,720 --> 00:39:04,360 conversions in your Square dashboard. 676 00:39:04,840 --> 00:39:07,880 Head to squareup.com/bitcoin to learn more. 677 00:39:11,120 --> 00:39:13,160 So that that's absolutely. Huge. 678 00:39:14,080 --> 00:39:17,040 That's massive. This is so cool actually. 679 00:39:17,400 --> 00:39:20,200 I thought that I hadn't, I hadn't seen the commercial and 680 00:39:20,440 --> 00:39:22,000 that actually made me feel something. 681 00:39:22,080 --> 00:39:24,000 Did it make you feel something? I mean, it was, well, it was 682 00:39:24,000 --> 00:39:26,640 extremely well done. The production value was 683 00:39:26,640 --> 00:39:29,200 fantastic, but other than that, if you like focus on the 684 00:39:29,200 --> 00:39:33,520 substance, I think it even downplayed the substance, right? 685 00:39:33,520 --> 00:39:37,040 Like, you know, again, like I mean it, it kind of had to 686 00:39:37,080 --> 00:39:40,160 because. This is for mass viewership. 687 00:39:40,160 --> 00:39:44,840 And, you know, I still worry that that people won't care. 688 00:39:44,840 --> 00:39:46,880 But it was so well done, honestly. 689 00:39:46,880 --> 00:39:51,120 Like, I felt the pain of like, you know, not the pain, but like 690 00:39:51,120 --> 00:39:54,400 the the hope that a small business owner might feel 691 00:39:54,400 --> 00:39:57,920 watching this and knowing that, you know, there is an easy way 692 00:39:57,920 --> 00:40:01,440 to accept Bitcoin and for it to work in your business. 693 00:40:02,080 --> 00:40:03,440 Yeah. I mean, I think it's huge. 694 00:40:04,080 --> 00:40:08,400 I think it's, it's absolutely massive that the you know that 695 00:40:08,400 --> 00:40:13,520 you can now like if you are a store, you can now accept, you 696 00:40:13,520 --> 00:40:16,760 know, you could set Bitcoin as payment and as a bitcoiner, 697 00:40:17,120 --> 00:40:19,600 right? The fact that you can use 698 00:40:19,600 --> 00:40:24,320 Bitcoin as money, right? So any, any it's real 699 00:40:24,320 --> 00:40:25,920 peer-to-peer adoption. Right. 700 00:40:26,120 --> 00:40:29,840 And the best part about that ad actually for me was the fact 701 00:40:29,840 --> 00:40:34,040 that you could take a percentage of your Bitcoin and put it into 702 00:40:34,040 --> 00:40:36,200 self custody for yourself as a business. 703 00:40:36,200 --> 00:40:39,800 So so now every business has a little SBR. 704 00:40:39,880 --> 00:40:43,960 Yeah, the every business can. Can build a a strategic Bitcoin 705 00:40:43,960 --> 00:40:48,120 reserve right for them, which is the way Bitcoin is supposed to 706 00:40:48,120 --> 00:40:49,840 be. It's it's not just meant for, 707 00:40:50,120 --> 00:40:52,440 you know, these large institutions that are taking 708 00:40:52,440 --> 00:40:55,000 advantage or not taking advantage, but they're using, 709 00:40:55,280 --> 00:40:58,720 you know, the the traditional markets to do a little bit of 710 00:40:58,720 --> 00:41:01,640 financial engineering to to buy more and more Bitcoin. 711 00:41:01,840 --> 00:41:04,640 At the end of the day, Bitcoin is money of the people for the 712 00:41:04,640 --> 00:41:09,000 people. So it's really cool to see, you 713 00:41:09,000 --> 00:41:13,000 know, square release this product that again, if you have 714 00:41:13,000 --> 00:41:17,160 a square point of sale, right, So you know, and it's very 715 00:41:17,160 --> 00:41:18,840 popular, you'll see them all the time. 716 00:41:19,680 --> 00:41:22,680 I don't know what food chains or anything, but if you go to like 717 00:41:22,680 --> 00:41:26,760 at a pop, a mom and pop shop, like your favorite Taco place, 718 00:41:26,760 --> 00:41:32,080 whatever, like a lot of merchants use square as their 719 00:41:32,080 --> 00:41:34,400 payment. You know, it's not the it's not 720 00:41:34,400 --> 00:41:36,800 the only one, but a lot of them do. 721 00:41:37,040 --> 00:41:40,040 And again, what I love about this is market forces do what 722 00:41:40,040 --> 00:41:44,240 market forces do best. And if, you know, a square 723 00:41:44,240 --> 00:41:49,000 starts to succeed by offering Bitcoin as a means of payment, 724 00:41:49,200 --> 00:41:51,720 then it's they're going to force their competitors to do, to roll 725 00:41:51,720 --> 00:41:54,040 out the same type of product. They're not going to have a 726 00:41:54,040 --> 00:41:56,400 choice, right, Because people are just going to switch to 727 00:41:56,400 --> 00:41:59,280 square and say, listen, I, I love you guys, but you guys 728 00:41:59,280 --> 00:42:03,160 weren't offering this as, as a, as a, you know, as a product. 729 00:42:03,160 --> 00:42:05,800 So I have to use square because it's the only one in town that's 730 00:42:05,800 --> 00:42:09,080 able to do so. So this is extremely bullish for 731 00:42:09,080 --> 00:42:10,920 and it's being released and it's. 732 00:42:10,920 --> 00:42:15,840 Being released at such a great time as well, because if we are 733 00:42:15,840 --> 00:42:20,600 to hope that there is still a bull run in play, that means 734 00:42:20,600 --> 00:42:24,200 that you know, they're getting in right before the price rips 735 00:42:24,320 --> 00:42:29,080 and people are going to have this already implemented. 736 00:42:29,080 --> 00:42:32,960 And when it finally does, you know, it's, it's the same thing. 737 00:42:32,960 --> 00:42:35,800 It's you know, when the price goes up and people call you get 738 00:42:35,800 --> 00:42:38,240 like that call from your cousin saying, hey, like, can you talk 739 00:42:38,240 --> 00:42:39,560 to me more about that Bitcoin thing? 740 00:42:39,840 --> 00:42:43,080 A lot of businesses are going to look at Square and see this 741 00:42:43,080 --> 00:42:47,880 option and say, hey, maybe our business should be accepting 742 00:42:47,880 --> 00:42:50,880 Bitcoin, especially since it's so valuable right now. 743 00:42:52,320 --> 00:42:56,000 I think I think it's it's going to be great for bitcoinization, 744 00:42:56,000 --> 00:43:01,040 Bitcoin adoption and you know, just businesses in general. 745 00:43:01,040 --> 00:43:03,720 This is probably better than anything the government could do 746 00:43:03,720 --> 00:43:06,080 for you. Oh, oh Shot. 747 00:43:06,080 --> 00:43:11,840 Across the bow. So anyways, yeah, guys, smash 748 00:43:11,840 --> 00:43:13,040 the like button. If you guys are enjoying the 749 00:43:13,040 --> 00:43:17,400 show, if you guys are watching us on YouTube, Rumble X Noster 750 00:43:17,400 --> 00:43:21,480 or you're listening to us after the fact on your favorite 751 00:43:21,680 --> 00:43:25,480 podcasting platform, make sure to drop a comment, leave a like, 752 00:43:25,800 --> 00:43:28,600 subscribe, follow the channel. Really, really helps with the 753 00:43:28,600 --> 00:43:30,120 algos. If you guys are enjoying the 754 00:43:30,120 --> 00:43:33,120 content, make sure to smash that like button. 755 00:43:33,360 --> 00:43:35,800 Guys, we still have a loaded show for you guys. 756 00:43:36,200 --> 00:43:39,920 Some news coming out of Europe and I'm going to connect it with 757 00:43:39,920 --> 00:43:43,720 their announcements of a central bank digital currency, which we 758 00:43:43,720 --> 00:43:47,040 actually covered on a Friday show last week. 759 00:43:47,600 --> 00:43:52,160 It's not a coincidence that they're announcing a central 760 00:43:52,160 --> 00:43:57,120 bank digital currency in Europe while simultaneously announcing 761 00:43:57,360 --> 00:44:02,320 that they are limiting trash transactions over $10,000. 762 00:44:02,800 --> 00:44:05,360 That is not a coincidence and we're going to do a deep 763 00:44:05,360 --> 00:44:08,640 breakdown on to why that's not a coincidence and we're going to 764 00:44:08,640 --> 00:44:12,480 be doing a deep breakdown into what your alternative is because 765 00:44:12,480 --> 00:44:15,600 you really only have another alternative. 766 00:44:15,600 --> 00:44:18,200 There is no other alternative, right? 767 00:44:18,520 --> 00:44:23,400 Either work within that system or you opt out into freedom 768 00:44:23,400 --> 00:44:25,200 money. And freedom money, of course, is 769 00:44:25,200 --> 00:44:27,000 Bitcoin. So we're going to be talking 770 00:44:27,000 --> 00:44:30,160 about the all of that during the news and then during the culture 771 00:44:30,160 --> 00:44:34,040 segment we have a special bit. With of course my Co host today, 772 00:44:34,280 --> 00:44:38,320 so we're going to be right back. I want to give a shout out to 773 00:44:38,320 --> 00:44:41,240 our partner. Let in the leader in Bitcoin 774 00:44:41,240 --> 00:44:44,880 back loans unlock the liquidity in your Bitcoin without having 775 00:44:44,880 --> 00:44:48,320 to sell your Bitcoin. They've issued $9 billion in 776 00:44:48,320 --> 00:44:52,080 loans to over 10,000 customers since 2018. 777 00:44:52,240 --> 00:44:55,200 I absolutely love these guys. Not only do I have an account 778 00:44:55,200 --> 00:44:58,360 with them, but I also have a loan, and what I love about them 779 00:44:58,360 --> 00:45:01,320 is that there are no monthly payments and you could pay back 780 00:45:01,320 --> 00:45:04,360 the loan at any time. As soon as you send your Bitcoin 781 00:45:04,360 --> 00:45:08,080 as collateral, you'll have cash in your account within 24 hours. 782 00:45:08,320 --> 00:45:12,760 Over 1005 star customer reviews and they've never lost plus a 783 00:45:12,760 --> 00:45:15,280 single dollar or sat of customer money. 784 00:45:15,480 --> 00:45:20,080 Go to learn dot leaden dot IO slash simply today and you'll 785 00:45:20,080 --> 00:45:24,680 get .25% off your first loan. I want to give a shout out to 786 00:45:24,680 --> 00:45:28,760 our partnersat123.com. Sovereignty isn't just about 787 00:45:28,760 --> 00:45:31,080 your money, it's about your communications too. 788 00:45:31,160 --> 00:45:33,840 When the grid goes down, most people go dark. 789 00:45:33,960 --> 00:45:37,480 Cell towers fail and hurricanes, cyber attacks and blackouts. 790 00:45:37,520 --> 00:45:40,320 But satellite phones, they don't rely on local infrastructure. 791 00:45:40,400 --> 00:45:44,840 Iridium has 77 satellites in orbit, giving you a Direct Line 792 00:45:44,880 --> 00:45:46,920 anywhere in the US, even offshore. 793 00:45:46,960 --> 00:45:50,000 If you hold your own Bitcoin keys, you should hold your own 794 00:45:50,000 --> 00:45:54,280 commstoosat123.com also has everything you need need to 795 00:45:54,280 --> 00:45:57,440 start building your Bitcoin. Citadel, Starlink, battery 796 00:45:57,440 --> 00:46:01,240 backups, Faraday bags to protect your hardware wallets and much 797 00:46:01,240 --> 00:46:04,080 much more. It's a one stop shop for anyone 798 00:46:04,080 --> 00:46:06,840 serious about resilience and off grid independence. 799 00:46:06,840 --> 00:46:09,920 Stay connected, stay independent, stay sovereign. 800 00:46:10,040 --> 00:46:15,480 Go to sat123.com/simply today and use promo code simply to get 801 00:46:15,480 --> 00:46:24,680 15% off anything on the store. I want to give a shout out to 802 00:46:24,680 --> 00:46:27,240 our partner. Big key if you already self 803 00:46:27,240 --> 00:46:29,840 custody your Bitcoin, you know the deal with hardware wallets 804 00:46:29,840 --> 00:46:32,040 by now. Complex setups, Clumsy 805 00:46:32,040 --> 00:46:34,480 interfaces. And a seed phrase that can be 806 00:46:34,480 --> 00:46:38,640 lost, stolen or forgotten. Big key fixes that big. 807 00:46:38,640 --> 00:46:41,000 Key is a. Multi sig hardware wallet built 808 00:46:41,000 --> 00:46:43,480 by the team behind Square and Cash App. 809 00:46:43,600 --> 00:46:47,280 It packs a cryptographic recovery system and built in 810 00:46:47,280 --> 00:46:50,840 inheritance feature into an intuitive, easy to use wallet 811 00:46:50,840 --> 00:46:52,840 with no seed phrase to sweat over. 812 00:46:52,960 --> 00:46:57,440 It's simple secure self custody without the stress time named 813 00:46:57,440 --> 00:46:59,560 bitkey. One of the best inventions of 814 00:46:59,560 --> 00:47:03,520 2024 get 20% off at bitkey dot world. 815 00:47:03,600 --> 00:47:08,880 That's BITKEY dot world with the code simply. 816 00:47:13,720 --> 00:47:17,480 Hey everybody, it's me. Here to bring you down from 817 00:47:17,480 --> 00:47:20,360 Nikko's yelling. You want to buy the big key? 818 00:47:20,520 --> 00:47:27,240 This is the best, easiest, and most secure self custody setup 819 00:47:27,760 --> 00:47:31,040 in the world. Babe, did you know that I've 820 00:47:31,040 --> 00:47:33,280 been doing this for a couple of weeks? 821 00:47:33,280 --> 00:47:38,280 I've been talking everybody into hypnotizing them into buying a 822 00:47:38,280 --> 00:47:41,840 big key through ASMR. Well, I don't know. 823 00:47:42,120 --> 00:47:43,200 It looks like. It's working. 824 00:47:43,200 --> 00:47:45,440 I would definitely buy a big key I think. 825 00:47:45,440 --> 00:47:47,960 I think you should buy a big. Key and if you haven't bought a 826 00:47:47,960 --> 00:47:51,520 big key or if you have, buy some for your friends and family. 827 00:47:51,640 --> 00:47:53,120 The holidays are about to come up. 828 00:47:53,120 --> 00:47:59,800 Use promo code simply or scan the QR code below for 15/20/20 829 00:47:59,800 --> 00:48:04,680 percent off I. Think, I think it is 20, yeah. 830 00:48:05,560 --> 00:48:09,880 Great, 20% off. Someone said we needed a Prozac 831 00:48:09,880 --> 00:48:12,080 in the comments. That wasn't very nice. 832 00:48:16,080 --> 00:48:19,960 Anyway, buy this thing. Yeah, get your Bitcoin in. 833 00:48:19,960 --> 00:48:23,760 Self custody get yourself a big key hardware wallet it's 834 00:48:23,760 --> 00:48:27,200 incredibly easy to use it's extremely intuitive. 835 00:48:27,840 --> 00:48:32,400 Get yours today while supplies last and again use promo code 836 00:48:32,400 --> 00:48:36,600 simply to get 20% off Anyways, I do want to talk about this news. 837 00:48:36,640 --> 00:48:38,160 I think it's extremely important. 838 00:48:38,880 --> 00:48:40,400 I'll, I'll read the headline first. 839 00:48:40,720 --> 00:48:46,200 So Luxembourg Times EU introduces €10,000 cap on cash 840 00:48:46,200 --> 00:48:50,880 payments The European Parliament and EU member states agreed on 841 00:48:51,360 --> 00:48:56,840 Thursday to limit cash payments within the EU to €10,000 as part 842 00:48:56,840 --> 00:48:59,120 of legislation to combat money laundering. 843 00:49:00,000 --> 00:49:04,280 Some countries, such as France, already have stricter rules than 844 00:49:04,280 --> 00:49:08,280 the new European provisions on cash payments, but in others, 845 00:49:08,400 --> 00:49:13,280 such as Austria and Germany, cash payments have have until 846 00:49:13,280 --> 00:49:17,200 now been unrestricted. The vision is part of a text 847 00:49:17,440 --> 00:49:21,160 also designed to better combat the financing of terrorism, 848 00:49:21,480 --> 00:49:26,000 concluded after 2 1/2 years of negotiations due to come into 849 00:49:26,000 --> 00:49:29,080 force this year. The aim is to harmonize the 850 00:49:29,080 --> 00:49:33,440 existing highly disparated regulations in the 27 EU 851 00:49:33,440 --> 00:49:38,160 countries in order to detect and limit dubious transactions. 852 00:49:38,520 --> 00:49:42,960 This agreement quote will ensure that fraudsters, organized crime 853 00:49:43,240 --> 00:49:47,320 and terrorists will no longer be able to legitimize their profits 854 00:49:47,480 --> 00:49:51,200 through the financial system. The new legislation also 855 00:49:51,200 --> 00:49:54,440 harmonizes and tightens the rules against money laundering, 856 00:49:54,720 --> 00:49:58,320 terrorist financing imposed on banks, real estate agents and 857 00:49:58,320 --> 00:50:01,440 casinos. These entities will have to be 858 00:50:01,440 --> 00:50:05,520 able to identify their customers or the owners of assets behind 859 00:50:05,800 --> 00:50:10,560 opaque financial arrangements. The applications of these rules 860 00:50:10,560 --> 00:50:14,400 will be extended to the crypto asset sector to ensure 861 00:50:14,400 --> 00:50:18,240 traceability there too. They will also apply to trade in 862 00:50:18,240 --> 00:50:22,880 luxury goods such as precious metals, jewelry and watches, as 863 00:50:22,880 --> 00:50:26,440 well as high end cars, private yacht, private jets and yachts. 864 00:50:26,720 --> 00:50:31,240 Finally, professional football clubs and their agents will also 865 00:50:31,240 --> 00:50:34,960 be subject to the tougher regulations, but only after a 866 00:50:34,960 --> 00:50:38,600 transitional period of five years following the entry into 867 00:50:38,640 --> 00:50:42,800 force of the text from 2029 and then later. 868 00:50:42,960 --> 00:50:46,480 The new legislation will also strengthen the powers of 869 00:50:46,480 --> 00:50:50,840 financial intelligence units. In December, the European 870 00:50:50,840 --> 00:50:54,000 Parliament and the member states approved the creation of a 871 00:50:54,000 --> 00:50:57,600 European agency to combat money laundering and terrorist 872 00:50:57,600 --> 00:51:00,440 financing. Several countries, including 873 00:51:00,440 --> 00:51:04,880 France, Germany are seeking to host the agency's headquarters. 874 00:51:05,280 --> 00:51:10,680 The new agency, known as Amla, will be responsible for 875 00:51:10,680 --> 00:51:14,280 supervising coordinating national authorities to better 876 00:51:14,280 --> 00:51:17,880 detect and combat suspicious cross-border activities. 877 00:51:18,320 --> 00:51:21,920 This package of measures was proposed by the European 878 00:51:21,920 --> 00:51:26,160 Commission by 2021. On Thursday, Financial Service 879 00:51:26,160 --> 00:51:30,120 Commissioner Marilyn Guinness welcomed, quote an important 880 00:51:30,120 --> 00:51:33,920 step forward in the fight against dirty money in the EU. 881 00:51:35,600 --> 00:51:40,040 Now moving on to simply bitcoins coverage of this. 882 00:51:40,040 --> 00:51:48,520 And we did get some comments in the in the just just Lola elites 883 00:51:48,520 --> 00:51:52,600 and some people were commenting in terms of to be specific 884 00:51:52,600 --> 00:51:54,640 around this, and I'm going to let my own thoughts known. 885 00:51:55,080 --> 00:51:59,040 So first we posted this very concerning the EU just banned 886 00:51:59,040 --> 00:52:03,920 cash payments over 10,000. That's completely true and we'll 887 00:52:03,920 --> 00:52:07,360 ID for every Bitcoin transaction starting in 2027. 888 00:52:07,760 --> 00:52:11,040 They're criminalizing privacy. Now I want to be specific with 889 00:52:11,040 --> 00:52:15,520 this part which says will require ID for every Bitcoin 890 00:52:15,520 --> 00:52:18,720 transaction starting 2027. So let's provide a 891 00:52:18,720 --> 00:52:23,440 clarification. Shout out to planmen who asked 892 00:52:23,440 --> 00:52:26,720 Grok to Fact Check it. And this is what Grok said, the 893 00:52:26,720 --> 00:52:30,800 EU's new. AML regulation sets an EU Why 894 00:52:30,800 --> 00:52:35,040 10,000 dollar 10,000? Euro cap on cash. 895 00:52:35,040 --> 00:52:39,280 Payments for goods and services to combat money laundering, with 896 00:52:39,280 --> 00:52:42,320 Member states able to impose lower limits. 897 00:52:42,760 --> 00:52:46,360 It was passed by the European Parliament and Council for 898 00:52:46,360 --> 00:52:49,520 Crypto. It mandates the travel rule for 899 00:52:49,520 --> 00:52:55,440 transfers over €1000 via exchanges, requiring sender 900 00:52:55,440 --> 00:53:00,760 slash receiver ID verification and banning account anonymous 901 00:53:00,760 --> 00:53:06,640 accounts slash privacy coins but not ID for every tiny keyword. 902 00:53:06,640 --> 00:53:11,240 There, peer-to-peer transaction enforcement falls to national 903 00:53:11,240 --> 00:53:16,240 authorities under unified EU rules aimed at tracing illicit 904 00:53:16,240 --> 00:53:20,080 funds while pervert while preserving some self custody 905 00:53:20,080 --> 00:53:21,560 privacy. Some. 906 00:53:21,920 --> 00:53:28,760 Now my very obvious question and I got so much heat for we got so 907 00:53:28,760 --> 00:53:33,200 much heat for this post specifically and the heat that 908 00:53:33,200 --> 00:53:36,040 we got were like, Nico, that's like that's not true. 909 00:53:36,040 --> 00:53:40,440 Like you got to be specific like this doesn't apply to crypto and 910 00:53:40,440 --> 00:53:41,480 Bitcoin. OK. 911 00:53:41,480 --> 00:53:43,600 I'm going to look at you guys straight. 912 00:53:44,600 --> 00:53:50,320 Do you think that if they're applying this cap to cash, do 913 00:53:50,320 --> 00:53:55,640 you think that they're going to be OK with you transacting 914 00:53:55,640 --> 00:54:00,800 freely on the Bitcoin network? Just use a little bit of common 915 00:54:00,800 --> 00:54:03,640 sense. Just lose a little bit of common 916 00:54:03,640 --> 00:54:06,200 sense. Absolutely not. 917 00:54:06,360 --> 00:54:09,880 Another point I'll make. Do you think it's a coincidence 918 00:54:10,120 --> 00:54:15,000 that Christine Lagarde goes on, you know, the European Central 919 00:54:15,000 --> 00:54:20,640 Bank X account and talks about how she's so happy that the that 920 00:54:20,640 --> 00:54:23,440 the CBDC is going to be rolled out? 921 00:54:23,600 --> 00:54:27,120 Do you think it's a coincidence that these two things are 922 00:54:27,120 --> 00:54:30,200 happening simultaneously? Do you think that's a 923 00:54:30,200 --> 00:54:33,800 coincidence? Absolutely effing not. 924 00:54:33,880 --> 00:54:38,360 It's not a coincidence. You have a choice in front of 925 00:54:38,360 --> 00:54:41,800 you. You have a choice of Bitcoin or 926 00:54:41,800 --> 00:54:44,760 you have a choice of a central bank digital currency. 927 00:54:45,000 --> 00:54:49,920 They can't completely get rid of cash because it's too 928 00:54:49,920 --> 00:54:53,400 politically unpopular. But what they're doing is 929 00:54:53,600 --> 00:54:57,520 they're not. They're normalizing the 930 00:54:57,520 --> 00:55:02,680 criminalization of privacy. And we're also seeing this in 931 00:55:02,680 --> 00:55:07,560 the United States where the samurai wallet developer got 932 00:55:07,560 --> 00:55:10,280 sentenced to the maximum jail time. 933 00:55:10,280 --> 00:55:13,640 I think he got five years. And by the way, that happened 934 00:55:13,640 --> 00:55:16,440 under a pro Bitcoin administration. 935 00:55:17,320 --> 00:55:21,440 So you're seeing the demonization, the 936 00:55:21,440 --> 00:55:28,000 criminalization of privacy under the guise of money laundering 937 00:55:28,080 --> 00:55:33,320 and terrorism. Now, you could say, Nico, those 938 00:55:33,320 --> 00:55:36,600 are good reasons. We want to stop those things. 939 00:55:37,160 --> 00:55:41,000 I would agree with you, however. Do you guys? 940 00:55:41,000 --> 00:55:45,320 Remember the Canadian truckers protest do you guys? 941 00:55:45,360 --> 00:55:50,120 Just look at. History and like has the. 942 00:55:50,120 --> 00:55:51,280 Government. Ever. 943 00:55:51,280 --> 00:55:56,240 Abused their power in order. To control their. 944 00:55:56,240 --> 00:55:59,240 Citizens, that's my question to you. 945 00:56:00,160 --> 00:56:06,080 The United States of America, the Constitution, was built 946 00:56:06,760 --> 00:56:13,480 specifically to protect the citizens from the state, from 947 00:56:13,480 --> 00:56:16,760 the government. That's why the First Amendment 948 00:56:17,200 --> 00:56:20,640 is freedom of speech. That's why the Second Amendment 949 00:56:20,800 --> 00:56:24,920 is the right to bear arms. There's a reason for that, 950 00:56:25,600 --> 00:56:29,040 because the Founding Fathers understood tyranny. 951 00:56:29,280 --> 00:56:34,200 They understood it fundamentally and they understood that if 952 00:56:34,200 --> 00:56:39,880 there's two centers, too much centralized control, they're 953 00:56:39,880 --> 00:56:44,120 going to use that against the citizenry. 954 00:56:44,640 --> 00:56:46,440 That's going to happen. It's inevitable. 955 00:56:46,960 --> 00:56:51,360 So when I see this type of regulations and I saw the 956 00:56:51,360 --> 00:56:55,240 comments like Nico, like that's not 100% accurate. 957 00:56:55,440 --> 00:56:58,720 You know, this is not 100% like, you know, correct. 958 00:56:59,320 --> 00:57:01,000 You know, there there's nuance to it. 959 00:57:01,160 --> 00:57:04,400 Like, OK, got you, got me. There. 960 00:57:04,720 --> 00:57:08,560 And we told our, we told our Twitter crew said guys, we have 961 00:57:08,560 --> 00:57:11,040 to be extremely accurate. We have a lot of people 962 00:57:11,040 --> 00:57:15,960 following us. However, come on dude, use a 963 00:57:15,960 --> 00:57:17,680 little. Bit of common sense. 964 00:57:18,360 --> 00:57:19,920 The CBD CS going to be. Launched out. 965 00:57:19,920 --> 00:57:25,080 Around the same time they're banning 10,000 above €10,000 966 00:57:25,280 --> 00:57:28,720 cash transaction. Do you really think, do you 967 00:57:28,720 --> 00:57:33,360 really think they're going to be OK with Bitcoin transactions? 968 00:57:34,320 --> 00:57:37,760 No. And and then my final point is 969 00:57:37,920 --> 00:57:42,160 how do you enforce that on the Bitcoin network? 970 00:57:42,520 --> 00:57:47,800 I understand how you can enforce that when you can limit ATM 971 00:57:47,800 --> 00:57:50,600 withdraws. I understand how you can enforce 972 00:57:50,600 --> 00:57:53,080 that with. They already have these 973 00:57:53,360 --> 00:57:58,720 limitations by the way, with with PayPal, Zelle, cash app, 974 00:57:58,720 --> 00:57:59,880 they're arbitrary. It's. 975 00:57:59,880 --> 00:58:04,640 Like you can't send more than 10. 1000 or 5000 or whatever and 976 00:58:05,200 --> 00:58:07,720 dollars in cash every month, they're already there. 977 00:58:07,760 --> 00:58:09,520 The limits are already there, right? 978 00:58:10,360 --> 00:58:11,840 And I'm not going to. Name any names but. 979 00:58:12,360 --> 00:58:15,360 Certain banks, if you try to wire a transaction to buy 980 00:58:15,360 --> 00:58:17,720 Bitcoin or something like, they'll just flat out reject 981 00:58:17,720 --> 00:58:19,640 you, right? They'll just say no, you can't 982 00:58:19,640 --> 00:58:24,080 do that with your money. Now imagine that system under a 983 00:58:24,080 --> 00:58:27,040 Bitcoin network where you don't have to ask a bank for 984 00:58:27,040 --> 00:58:30,080 permission to send the money. Right that. 985 00:58:30,080 --> 00:58:32,800 System is incompatible. With the old system. 986 00:58:32,960 --> 00:58:34,960 So how are they going to enforce this? 987 00:58:35,600 --> 00:58:38,760 Well, just use common sense. Like use the game theory. 988 00:58:39,040 --> 00:58:41,040 It's obvious how they're going to enforce this. 989 00:58:42,480 --> 00:58:46,920 They're going to 1st. Again, I'm not a fortune teller, 990 00:58:46,920 --> 00:58:49,920 but this is where like it's so obvious where this is going. 991 00:58:50,560 --> 00:58:54,040 First they're going to say you can only withdraw a certain 992 00:58:54,040 --> 00:58:57,600 amount of Bitcoin. You need to give us an ID of 993 00:58:57,600 --> 00:59:01,160 where this, you know, ID of the person or you need to verify 994 00:59:01,160 --> 00:59:02,800 that you are the owner of this address. 995 00:59:03,000 --> 00:59:07,000 I think they're already, they're already doing that right Then 996 00:59:07,000 --> 00:59:08,000 after a. While. 997 00:59:08,760 --> 00:59:12,880 While more and more people are outside of the system, they're 998 00:59:12,880 --> 00:59:15,880 going to say, yo, we literally cannot stop. 999 00:59:16,080 --> 00:59:19,240 This peer-to-peer. Thing and people are sending 1000 00:59:19,560 --> 00:59:25,280 much more money peer-to-peer than this €10,000 cap that we 1001 00:59:25,280 --> 00:59:29,200 arbitrarily put in, right. How do we stop this? 1002 00:59:30,320 --> 00:59:31,680 They stop. Allowing. 1003 00:59:31,680 --> 00:59:36,640 Exchanges to withdraw altogether and it all becomes captured 1004 00:59:36,640 --> 00:59:38,880 Bitcoin. That's what happens. 1005 00:59:39,360 --> 00:59:41,840 That's the inevitable outcome of this. 1006 00:59:42,520 --> 00:59:48,000 So when I get corrections in the post, it's like, yes guys, 100% 1007 00:59:48,320 --> 00:59:49,600 we should have been more nuanced. 1008 00:59:50,280 --> 00:59:55,040 But you're missing the bigger effing picture because make no 1009 00:59:55,040 --> 00:59:57,400 mistake, this is where it's heading. 1010 00:59:58,400 --> 01:00:03,160 They want you within the system where there is an intermediary 1011 01:00:04,080 --> 01:00:06,560 because they can put pressure in the intermediary. 1012 01:00:07,120 --> 01:00:12,720 To become an agent of the state, to enforce rules in a 1013 01:00:12,720 --> 01:00:17,240 peer-to-peer system where individuals are transacting in a 1014 01:00:17,240 --> 01:00:20,360 peer-to-peer manner. The individuals don't really 1015 01:00:20,360 --> 01:00:25,360 have that incentive, do they? And then this concept that if 1016 01:00:25,360 --> 01:00:30,480 the world is not heavily surveilled and if the and if 1017 01:00:30,480 --> 01:00:36,160 citizens are not able to transact freely, that world is 1018 01:00:36,160 --> 01:00:40,080 somehow unsafer and somehow you. Know. 1019 01:00:40,080 --> 01:00:42,120 Horrible things are going to happen. 1020 01:00:43,720 --> 01:00:47,600 That's a lie. I think the biggest danger to 1021 01:00:47,600 --> 01:00:51,960 the world today, the biggest thing that is bringing pain to 1022 01:00:51,960 --> 01:00:58,360 people today, are central banks with their money printing. 1023 01:00:59,400 --> 01:01:03,200 That is the number. 1. Cause of wealth inequality and 1024 01:01:03,200 --> 01:01:07,320 is the number one 'cause as to why people cannot afford 1025 01:01:07,360 --> 01:01:13,760 anything. It's not these BS rules that 1026 01:01:14,560 --> 01:01:19,240 conveniently benefit the central bankers and politicians. 1027 01:01:20,920 --> 01:01:24,320 The number one thing this. Is you want to know why the 1028 01:01:24,320 --> 01:01:27,320 election in New York went the way it did? 1029 01:01:27,480 --> 01:01:29,600 Do you guys want to know why I did that? 1030 01:01:30,800 --> 01:01:35,160 Why a communist won in New York City, the financial capital of 1031 01:01:35,160 --> 01:01:38,600 the world, he won. Because he was. 1032 01:01:38,600 --> 01:01:41,040 Absolutely right with his messaging. 1033 01:01:42,560 --> 01:01:46,760 People cannot afford anything if you are a Gen. 1034 01:01:46,760 --> 01:01:49,480 Z. Uh, if you are a millennial, you 1035 01:01:49,480 --> 01:01:54,040 can probably not afford a home. That's a fact. 1036 01:01:54,640 --> 01:01:58,880 Why did that happen? Because when the central bank 1037 01:01:58,880 --> 01:02:02,360 prints money, it inflates. Asset. 1038 01:02:02,360 --> 01:02:05,240 Prices. Who owns the majority of the 1039 01:02:05,240 --> 01:02:07,280 assets? The wealthy? 1040 01:02:07,360 --> 01:02:12,640 The older generations, Gen. Z, millennial, you don't have 1041 01:02:12,640 --> 01:02:16,040 savings. Most of them are paycheck to 1042 01:02:16,040 --> 01:02:20,040 paycheck. Your salary is not keeping up 1043 01:02:20,560 --> 01:02:24,120 with inflation. That's why you feel like you 1044 01:02:24,120 --> 01:02:27,760 cannot get ahead every single year. 1045 01:02:28,440 --> 01:02:31,680 That's why you feel poorer. That's why you feel desperation. 1046 01:02:33,240 --> 01:02:35,040 So. Mandami, I think that's. 1047 01:02:35,040 --> 01:02:36,240 How you pronounce his name, right? 1048 01:02:37,920 --> 01:02:40,920 Yeah. His messaging was 100. 1049 01:02:40,920 --> 01:02:43,680 Percent spot on. Like he was right. 1050 01:02:43,760 --> 01:02:49,720 I I fundamentally disagree with him ideologically 100. 1051 01:02:49,720 --> 01:02:53,960 Percent in terms. Of his his methods to fix the 1052 01:02:53,960 --> 01:02:59,480 problem, but to to to. Say that he did not. 1053 01:02:59,480 --> 01:03:02,360 Correctly identify a problem and hit a nerve. 1054 01:03:02,840 --> 01:03:07,720 You are 100% naive, he 100. Percent. 1055 01:03:07,760 --> 01:03:12,760 Got it right. People can't afford anything and 1056 01:03:12,760 --> 01:03:14,200 it's the central. Bank's fault? 1057 01:03:14,600 --> 01:03:18,960 It's not capitalism's fault. It's not because your party 1058 01:03:18,960 --> 01:03:22,000 didn't win an election. It's not because of greedy 1059 01:03:22,000 --> 01:03:25,760 corporations. It's because governments cannot 1060 01:03:25,760 --> 01:03:30,000 help but to print money. That is literally what is 1061 01:03:30,000 --> 01:03:32,960 happening. And if you switch to a Bitcoin 1062 01:03:32,960 --> 01:03:36,800 standard, guess what? Your life. 1063 01:03:36,960 --> 01:03:40,400 Gets cheaper. Everyone's life around you, if 1064 01:03:40,400 --> 01:03:42,880 they're living on Fiat, it gets more expensive. 1065 01:03:43,400 --> 01:03:46,720 If you're living on Bitcoin and using Bitcoin as your unit of 1066 01:03:46,720 --> 01:03:50,360 account, you get wealthier overtime. 1067 01:03:50,560 --> 01:03:54,520 Everything around you gets cheaper overtime like it should 1068 01:03:54,520 --> 01:03:57,880 be to quote. Jeff Booth, the. 1069 01:03:57,880 --> 01:04:01,560 Natural state of the free market is deflationary. 1070 01:04:01,680 --> 01:04:05,840 The only reason we are not witnessing that as human beings, 1071 01:04:06,920 --> 01:04:10,880 or perhaps you're not witnessing that or experiencing that, is 1072 01:04:10,880 --> 01:04:13,440 because you're not using Bitcoin as your unit of account. 1073 01:04:13,440 --> 01:04:15,720 You're not using Bitcoin as your money. 1074 01:04:16,040 --> 01:04:18,360 Anyways, rant over. So. 1075 01:04:20,400 --> 01:04:23,760 I'm going to pass it on to you. 'Cause this Europe stuff. 1076 01:04:23,760 --> 01:04:26,160 Is crazy and and we were we were in Europe all. 1077 01:04:26,160 --> 01:04:27,520 We were in Europe in in the summer. 1078 01:04:27,520 --> 01:04:31,560 We we had some fantastic times. You know, we were travelling 1079 01:04:31,560 --> 01:04:36,040 different cities, but like. Boy would I not want to effing 1080 01:04:36,040 --> 01:04:38,760 live. There I mean. 1081 01:04:38,880 --> 01:04:43,240 I would want to live there if it was different than than it was. 1082 01:04:44,360 --> 01:04:47,760 Wow, what a rant. If you loved that rant, smash 1083 01:04:47,760 --> 01:04:50,880 the like button, subscribe to our channel, hit the 1084 01:04:50,880 --> 01:04:52,720 notification bell and share the show with your friends. 1085 01:04:52,720 --> 01:04:57,520 But yeah, the that's the thing that people don't realize. 1086 01:04:57,520 --> 01:05:00,800 People get so concerned with being accurate. 1087 01:05:00,800 --> 01:05:04,360 And, and I understand that for a journalism, I mean, Lola Leets 1088 01:05:04,360 --> 01:05:08,680 is a journalist. We're more of journalism slash 1089 01:05:08,680 --> 01:05:13,160 entertainment, right? But the reality is that we're 1090 01:05:13,160 --> 01:05:17,600 here to see, you know, to zoom out and see the big picture. 1091 01:05:17,600 --> 01:05:21,200 And the what the big picture tells us is that this has 1092 01:05:21,200 --> 01:05:25,280 happened before. And if this has happened before 1093 01:05:25,280 --> 01:05:29,320 with Fiat, then it will happen again or they will try to make 1094 01:05:29,320 --> 01:05:33,320 it happen again with Bitcoin. And that's the part that people 1095 01:05:33,320 --> 01:05:38,080 cannot let repeat, right? You can't let them, you know, 1096 01:05:38,080 --> 01:05:41,720 put us in a position where we didn't learn from the past and 1097 01:05:41,720 --> 01:05:44,560 we didn't learn that, you know, this isn't going to work. 1098 01:05:44,760 --> 01:05:47,040 Obviously, Bitcoin is very different. 1099 01:05:47,040 --> 01:05:50,880 It's totally decentralized. They can't technically make this 1100 01:05:50,880 --> 01:05:54,920 happen, but they can make our lives very difficult and put us 1101 01:05:54,920 --> 01:05:59,840 in a box or, you know, make it so that there are rules in place 1102 01:05:59,840 --> 01:06:02,960 that make Bitcoin that much more inconvenient. 1103 01:06:03,280 --> 01:06:05,800 And that's what we have to be afraid of. 1104 01:06:06,400 --> 01:06:09,080 I think that, you know, the biggest thing that you can do to 1105 01:06:09,080 --> 01:06:13,120 combat this is opt out of the system is, you know, try to buy 1106 01:06:13,120 --> 01:06:18,080 Bitcoin non KYC, try to buy bit or use Bitcoin between your 1107 01:06:18,080 --> 01:06:21,400 friends peer-to-peer. I would say sorry. 1108 01:06:21,560 --> 01:06:23,600 I would say instead of. Say again. 1109 01:06:23,600 --> 01:06:30,200 Like I want to be like, like when you say again, I, I when 1110 01:06:30,200 --> 01:06:31,800 you say buy. Bitcoin try to buy. 1111 01:06:31,800 --> 01:06:35,240 Bitcoin non KYC right? Like, let's reframe it because 1112 01:06:35,240 --> 01:06:37,160 that's using their framing, right? 1113 01:06:38,960 --> 01:06:42,600 Try. To earn Bitcoin, yes, that's so 1114 01:06:42,600 --> 01:06:44,560 much. Better try to mine Bitcoin, 1115 01:06:44,880 --> 01:06:47,040 right? You want to mine Bitcoin, you 1116 01:06:47,040 --> 01:06:51,840 can mine Bitcoin. You don't need an ID for that, 1117 01:06:52,200 --> 01:06:54,560 right? You can earn Bitcoin, you don't 1118 01:06:54,560 --> 01:06:58,760 need an ID for that, right? You know you can buy something 1119 01:06:58,760 --> 01:07:01,160 off of your friend. You don't need an ID for that 1120 01:07:01,160 --> 01:07:02,640 for now, right? I'm I'm. 1121 01:07:02,760 --> 01:07:05,800 I'm pretty positive they'll try. I don't think you'll ever need 1122 01:07:05,800 --> 01:07:07,400 an ID I. Mean you you. 1123 01:07:08,040 --> 01:07:09,840 I think you underestimate. Where? 1124 01:07:09,840 --> 01:07:12,680 We are where we are in the movie. 1125 01:07:12,680 --> 01:07:14,960 What's happening right now? Like I'll, I'll pass it. 1126 01:07:15,720 --> 01:07:18,680 So we, we literally talk about this every single day, right? 1127 01:07:18,920 --> 01:07:21,280 Do you remember all the censorship that was happening 1128 01:07:21,720 --> 01:07:25,440 with Twitter and X and the fact that they literally deplatform 1129 01:07:25,760 --> 01:07:27,560 the president of the United States and they started 1130 01:07:27,560 --> 01:07:30,240 deplatforming a bunch of content creators and stuff like that? 1131 01:07:30,640 --> 01:07:34,160 Like that was because they were losing their monopoly on the 1132 01:07:34,160 --> 01:07:36,520 control of information, and they're still losing it. 1133 01:07:37,400 --> 01:07:41,560 I, I would say that what happened there, at least in 1134 01:07:41,560 --> 01:07:45,120 terms of the media, is that eventually the free market won. 1135 01:07:45,720 --> 01:07:49,120 And I think that eventually the free market is going to win here 1136 01:07:49,120 --> 01:07:51,400 as well. I think people are going to 1137 01:07:51,400 --> 01:07:55,440 realize that they are not happier in the hands of the 1138 01:07:55,440 --> 01:07:57,960 government, that the government is actually not making their 1139 01:07:57,960 --> 01:08:01,960 lives any better. And so they're going to realize 1140 01:08:01,960 --> 01:08:06,240 pretty quickly that opting out is not only viable but 1141 01:08:06,240 --> 01:08:09,640 preferable to having a happier life. 1142 01:08:10,360 --> 01:08:11,920 I I don't know, but I don't know about that. 1143 01:08:12,160 --> 01:08:15,720 Like I, I just, I, I think, I mean, I think that's what 1144 01:08:15,720 --> 01:08:18,560 happened with media. I think people got tired of 1145 01:08:18,560 --> 01:08:23,840 being lied to and eventually that led to them switching from 1146 01:08:23,840 --> 01:08:26,880 what I mean, it happened. I saw it happen with my mom and 1147 01:08:26,880 --> 01:08:28,800 it was like the most interesting thing. 1148 01:08:29,000 --> 01:08:33,439 She used to be, you know, total legacy media maxi. 1149 01:08:33,680 --> 01:08:36,800 And then all of a sudden she started watching Russell Brand 1150 01:08:37,240 --> 01:08:41,359 and and she went down the rabbit hole and started watching, you 1151 01:08:41,359 --> 01:08:44,399 know, a lot of independent media. 1152 01:08:44,760 --> 01:08:51,359 And I think that that's that same shift in in mentality will 1153 01:08:51,359 --> 01:08:54,160 eventually happen when it comes to money. 1154 01:08:55,319 --> 01:08:57,200 Yeah, Yeah. I I mean I I. 1155 01:08:57,840 --> 01:09:00,800 I I just think it's going to be a lot more bumpy because I think 1156 01:09:00,800 --> 01:09:02,560 for sure, 'cause this is, this is. 1157 01:09:02,560 --> 01:09:04,640 Money we're talking about. This is Money we're talking 1158 01:09:04,640 --> 01:09:05,439 about. That's what I'm saying. 1159 01:09:05,439 --> 01:09:06,760 Like. I feel like, like with 1160 01:09:06,760 --> 01:09:10,040 information, it's like, yeah, guys, we damn, we lost it. 1161 01:09:10,040 --> 01:09:12,160 But look at how much they fought, right? 1162 01:09:12,319 --> 01:09:16,040 Like even in the US where like you're explicitly protected by 1163 01:09:16,040 --> 01:09:19,840 the 1st Amendment, they didn't give 2 flying FS about that. 1164 01:09:20,200 --> 01:09:21,840 Well, but that's because there were. 1165 01:09:21,840 --> 01:09:27,720 Also, I'm forgetting the name of this thing that Obama repealed. 1166 01:09:27,760 --> 01:09:31,920 It's where now basically the media is allowed to lie to you. 1167 01:09:32,720 --> 01:09:36,200 That used to not be the case. Basically you can. 1168 01:09:36,439 --> 01:09:40,920 There used to be a law where like propaganda used to not be 1169 01:09:40,920 --> 01:09:43,520 legal essentially. And like he kind of removed that 1170 01:09:43,520 --> 01:09:46,040 that thing. But the point is, is like, why 1171 01:09:46,040 --> 01:09:50,560 is the why is the government in in why is the government which 1172 01:09:50,560 --> 01:09:53,800 you pay taxes for in the business of propagandizing you? 1173 01:09:55,200 --> 01:09:57,200 That's the that's the illusion, right? 1174 01:09:57,200 --> 01:10:00,840 It's like supposedly because the Internet happened because. 1175 01:10:00,840 --> 01:10:03,320 The Internet happened, guys. We're going to be right back in. 1176 01:10:03,320 --> 01:10:06,160 Just after a commercial break and then we're going to continue 1177 01:10:06,160 --> 01:10:10,640 this conversation much more. I want to give a shout out to 1178 01:10:10,640 --> 01:10:11,280 our. Partner. 1179 01:10:11,440 --> 01:10:17,320 Hive digital technology Why Hive in 2025, Unstoppable growth As 1180 01:10:17,320 --> 01:10:21,680 the first ever public miner, Hive's position to quadruple 1181 01:10:21,720 --> 01:10:24,840 their global footprint, making them one of the world's fastest 1182 01:10:24,840 --> 01:10:29,120 growing miners in 2025. And with elite operations that 1183 01:10:29,120 --> 01:10:32,800 consistently topped the industry in Bitcoin mine, per Exahash. 1184 01:10:33,000 --> 01:10:35,200 Hives now headquartered in the USA. 1185 01:10:35,520 --> 01:10:38,560 They're lean and mean. They're green and clean, and 1186 01:10:38,560 --> 01:10:42,160 they're rewriting the playbook on sustainable Bitcoin mining. 1187 01:10:42,400 --> 01:10:46,800 You can catch the latest buzz at Hive Digital Tech or at Hive 1188 01:10:46,960 --> 01:10:55,040 digitaltech.com. I want to give a shout out to 1189 01:10:55,040 --> 01:10:58,080 our partner. 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You'll also get access to the 1200 01:11:37,920 --> 01:11:43,560 first fully backed Bitcoin bank with Fiat ramps and savings 1201 01:11:43,560 --> 01:11:46,840 accounts. It's called private KeyBank and 1202 01:11:46,840 --> 01:11:49,320 you guessed it, it's based out of El Salvador. 1203 01:11:49,520 --> 01:11:53,960 Go peer-to-peer with Bitcoin bulk buys, tap into home equity 1204 01:11:53,960 --> 01:11:57,440 for long term Bitcoin growth and join their exclusive mining 1205 01:11:57,440 --> 01:11:59,040 pools. If you're interested in mining, 1206 01:11:59,160 --> 01:12:02,200 what are you waiting for? Head over to Bitcoin bend dot 1207 01:12:02,200 --> 01:12:05,360 IO. Join today where Bitcoin meets 1208 01:12:05,360 --> 01:12:11,440 freedom. All right, we're back. 1209 01:12:11,440 --> 01:12:13,480 So it was funny. While that was happening, 1210 01:12:13,480 --> 01:12:18,080 someone in the in the in the chat is talking about Litecoin. 1211 01:12:18,080 --> 01:12:20,960 Read the room. Dude, you're in the wrong. 1212 01:12:21,360 --> 01:12:24,120 You're in the wrong show for that. 1213 01:12:24,120 --> 01:12:27,000 But you know, I want to give a shout out to a line. 1214 01:12:27,000 --> 01:12:32,160 Who actually brought up it's the Smith Munt Act repealed by Obama 1215 01:12:32,160 --> 01:12:36,760 to allow the propaganda we use on the people of the world to be 1216 01:12:36,760 --> 01:12:39,280 used on us? So there you go. 1217 01:12:39,960 --> 01:12:42,960 Yeah, I mean, there you go. And then again, my question to 1218 01:12:42,960 --> 01:12:45,320 you is like you, you're paying for that through taxes. 1219 01:12:45,320 --> 01:12:47,760 Like why is the business in the why is the government in the 1220 01:12:47,760 --> 01:12:50,640 business of propagating propagate? 1221 01:12:51,200 --> 01:12:55,960 How do you propaganda propagate? Why can't we speak English? 1222 01:12:56,080 --> 01:12:59,880 Wow, that is a hard word. Propagandizing there we. 1223 01:12:59,920 --> 01:13:03,880 Go propagandizing. Why is the? 1224 01:13:03,880 --> 01:13:07,400 Government in the Business of. Propagandizing their citizens? 1225 01:13:07,400 --> 01:13:09,640 I think that's a really. And then why do I know the 1226 01:13:09,680 --> 01:13:12,600 answer to this? What's the answer it's? 1227 01:13:12,600 --> 01:13:16,000 Because the Internet. It's because of the Internet, 1228 01:13:16,000 --> 01:13:19,960 the decentralization of information essentially made it 1229 01:13:19,960 --> 01:13:23,080 so that they had to take control of the reins. 1230 01:13:23,080 --> 01:13:27,000 And you see the same thing playing out here with money. 1231 01:13:27,240 --> 01:13:30,000 They're not just going to let people, are you crazy? 1232 01:13:30,000 --> 01:13:33,600 Like they're not just going to let people use Bitcoin without a 1233 01:13:33,600 --> 01:13:35,040 fight. And that's what we're seeing 1234 01:13:35,040 --> 01:13:38,880 right now is a fight. Are we going to see, are we 1235 01:13:38,880 --> 01:13:41,640 gonna, are we gonna win in the next 10 years? 1236 01:13:41,880 --> 01:13:43,720 Maybe, maybe not. I don't know. 1237 01:13:43,720 --> 01:13:48,320 I think with the Internet, it took until, you know, 2020 for 1238 01:13:48,320 --> 01:13:51,400 people to really open their eyes and see that they were being 1239 01:13:51,400 --> 01:13:53,680 propagandized. I, I think that's when the 1240 01:13:53,680 --> 01:13:58,160 biggest shift of people were realizing that the same tactics 1241 01:13:58,160 --> 01:14:01,360 that they were using in legacy media were being applied online 1242 01:14:01,360 --> 01:14:05,640 in the form of bots, in the form of, you know, fake likes the, 1243 01:14:05,720 --> 01:14:08,640 the dead Internet theory or whatever. 1244 01:14:08,640 --> 01:14:13,240 So I think that same thing is going to apply with Bitcoin 1245 01:14:13,240 --> 01:14:17,440 because now we've decentralized money and when you decentralize 1246 01:14:17,440 --> 01:14:22,080 money, you completely take away their control to be able to say 1247 01:14:22,080 --> 01:14:24,760 what house you want to buy, what kind of job you want. 1248 01:14:24,760 --> 01:14:27,640 It affects everything. You know, it's, it is the base 1249 01:14:27,640 --> 01:14:30,680 layer of society. It affects how you want to even 1250 01:14:30,680 --> 01:14:35,280 like raise your kids. So, yeah, it it is because of 1251 01:14:35,280 --> 01:14:38,920 the Internet and a byproduct of the Internet was Bitcoin is 1252 01:14:38,920 --> 01:14:42,960 Bitcoin. So that's, that's what happened. 1253 01:14:44,280 --> 01:14:46,200 Yeah, I, I. I completely agree. 1254 01:14:47,160 --> 01:14:50,480 And yeah, no, I, I, I think you broke it down the, the great 1255 01:14:50,480 --> 01:14:53,560 disintermediation and I think governments are, are freaking 1256 01:14:53,560 --> 01:14:55,960 the F out that social media is a thing. 1257 01:14:56,280 --> 01:15:00,320 The fact that we can just spin up a live stream and have a, you 1258 01:15:00,320 --> 01:15:04,320 know, semi professional studio, it's like when they came out 1259 01:15:04,320 --> 01:15:05,240 with the. Printing press. 1260 01:15:05,240 --> 01:15:07,000 I know simply like, it's crazy guys like. 1261 01:15:07,000 --> 01:15:12,520 To even say this like, like we get more views than some legacy 1262 01:15:12,520 --> 01:15:16,000 media outlets like that are a whole lot more quote UN quote 1263 01:15:16,000 --> 01:15:19,800 legitimate and have all the bells and whistles and and we 1264 01:15:19,800 --> 01:15:21,520 blow them out of the water, right? 1265 01:15:21,680 --> 01:15:25,840 And I think that's why they reacted the way they did. 1266 01:15:27,680 --> 01:15:29,520 And I think that's why they're they're propaganda. 1267 01:15:29,520 --> 01:15:33,960 But but it's it's too look, legacy media would put the 1268 01:15:33,960 --> 01:15:36,120 Soviet Union propaganda to shame. 1269 01:15:36,440 --> 01:15:39,600 Oh, yes, yes. It would put it to shame. 1270 01:15:39,760 --> 01:15:42,440 There there's. A whole complex, right? 1271 01:15:42,600 --> 01:15:44,400 There's like. I don't even. 1272 01:15:44,840 --> 01:15:46,840 This is Wait, can we talk about actually the? 1273 01:15:46,840 --> 01:15:49,560 Sydney Sweeney thing. This is the Sydney Sweeney. 1274 01:15:49,560 --> 01:15:53,560 Yes, the Sydney Sweeney interview was a perfect example 1275 01:15:53,560 --> 01:15:56,000 of that. This girl was trying, the 1276 01:15:56,000 --> 01:15:59,720 interviewer was trying to get her, you know, to either say 1277 01:15:59,720 --> 01:16:01,960 something embarrassing. She was trying to get force an 1278 01:16:01,960 --> 01:16:04,200 apology. She was either trying to get her 1279 01:16:04,200 --> 01:16:06,920 to. Force an apology or even better, 1280 01:16:06,920 --> 01:16:09,880 say something embarrassing so that they could further cancel 1281 01:16:09,880 --> 01:16:12,960 this poor girl. And, you know, she just held her 1282 01:16:12,960 --> 01:16:15,280 ground. And what it how did the Internet 1283 01:16:15,280 --> 01:16:19,400 react? They went feral with a bunch of 1284 01:16:19,640 --> 01:16:23,400 meme templates. And you know that that was the 1285 01:16:23,400 --> 01:16:27,080 real communication there that we we won. 1286 01:16:27,520 --> 01:16:31,720 Essentially, the people have taken back their power in terms 1287 01:16:31,720 --> 01:16:37,640 of information warfare. So I think the same thing if Sri 1288 01:16:37,640 --> 01:16:43,160 Rhymes has to follow with money. I think that's a. 1289 01:16:43,480 --> 01:16:48,640 Like, fantastic observation #1 and #2 yeah, I mean, like the 1290 01:16:48,640 --> 01:16:50,880 memes that were created through that. 1291 01:16:50,920 --> 01:16:52,840 This is so good. Were like. 1292 01:16:52,840 --> 01:16:55,800 Hilarious like. You know, like this template. 1293 01:16:55,960 --> 01:16:58,680 I, I got to say though, when I, when I posted this, the template 1294 01:16:58,680 --> 01:17:02,000 was like relatively new. Now I feel like it's just been 1295 01:17:02,000 --> 01:17:05,640 overdone but it like the template went effing viral. 1296 01:17:06,400 --> 01:17:07,960 And again, like she knows. She tried to. 1297 01:17:08,400 --> 01:17:11,040 I'm not going to get into the details she has like this Mona 1298 01:17:11,040 --> 01:17:13,400 Lisa. Smile about her that she just 1299 01:17:13,400 --> 01:17:15,680 doesn't care, but it's like real socialism. 1300 01:17:16,520 --> 01:17:18,760 That wasn't the actual conversation, but whatever, you 1301 01:17:18,760 --> 01:17:20,280 guys, you know what I'm saying? Like this is the meme. 1302 01:17:20,760 --> 01:17:22,360 Check out the video. I don't want to get into the 1303 01:17:22,360 --> 01:17:23,760 details. This is not the purpose of the 1304 01:17:23,760 --> 01:17:26,640 show, but just check out the thing. 1305 01:17:26,760 --> 01:17:28,520 It was definitely a gotcha question. 1306 01:17:28,600 --> 01:17:31,400 I will say that Sydney definitely prepared for it. 1307 01:17:31,480 --> 01:17:33,520 There's no way she just did that off the cuff. 1308 01:17:35,040 --> 01:17:37,720 But you know, it was, it was very well answered. 1309 01:17:38,480 --> 01:17:42,640 But yeah, again, it's like kind of like this forced like. 1310 01:17:43,320 --> 01:17:44,720 They shame. You into. 1311 01:17:44,720 --> 01:17:46,760 Not. Like if you don't believe the 1312 01:17:46,760 --> 01:17:50,280 mainstream quote UN quote institutional consensus, you're 1313 01:17:50,280 --> 01:17:52,920 other right? And I think the same. 1314 01:17:52,920 --> 01:17:55,840 Kind of same thing is going to they're going to use the same 1315 01:17:55,840 --> 01:17:59,160 tricks with money, right? And you say that you you kind of 1316 01:17:59,160 --> 01:18:03,640 fell into the the framing when you're like acquire KYC Bitcoin, 1317 01:18:03,880 --> 01:18:06,040 right? Like that's, Well, yeah, KYC 1318 01:18:06,040 --> 01:18:08,960 free Bitcoin. But that's their framing, right? 1319 01:18:08,960 --> 01:18:12,800 Like in the white paper, there is no such thing as KYC Bitcoin. 1320 01:18:13,040 --> 01:18:17,440 Like in the white paper, there is no such thing as a unhosted 1321 01:18:17,440 --> 01:18:19,920 wallet. Like that's their framing. 1322 01:18:20,000 --> 01:18:22,520 Like those are that's true. And you know it's. 1323 01:18:22,640 --> 01:18:25,640 It gets confusing sometimes because you don't know when to. 1324 01:18:25,960 --> 01:18:27,400 You have to understand, you have to. 1325 01:18:27,600 --> 01:18:29,560 And this is like kind of what I'm learning from this 1326 01:18:29,560 --> 01:18:33,320 conversation. You have to use their language 1327 01:18:33,360 --> 01:18:36,840 when it's against them, but you have to opt out of their 1328 01:18:36,840 --> 01:18:42,640 language when you're, you know, trying to, to really opt out of 1329 01:18:42,640 --> 01:18:44,880 the whole thing that they're trying to implement in the 1st 1330 01:18:44,880 --> 01:18:46,560 place. You can't give it any 1331 01:18:46,560 --> 01:18:49,640 legitimacy. No, I mean, I think, I think. 1332 01:18:49,640 --> 01:18:52,360 Ridicule is is the best. And I think that's why these 1333 01:18:52,360 --> 01:18:54,720 this meme was so effective. And I think that's why it went 1334 01:18:54,880 --> 01:18:58,880 absolutely so viral the way it did, because it it was a form of 1335 01:18:58,880 --> 01:19:00,680 ridicule. Like it was so ridiculous. 1336 01:19:00,680 --> 01:19:04,280 And again, like, the reason they censor is because they have to 1337 01:19:04,280 --> 01:19:08,760 censor because they're losing control and we're out, meaning 1338 01:19:08,760 --> 01:19:12,960 them with the money too. Like when Christine Lagarde 1339 01:19:12,960 --> 01:19:15,840 posts, like you look at the comments, it's like the amount 1340 01:19:15,840 --> 01:19:19,360 of ridicule. So yeah, I mean it again, guys, 1341 01:19:19,360 --> 01:19:23,960 like don't fall for like this guise of safety and security. 1342 01:19:23,960 --> 01:19:27,240 And it's like, if you don't do it our way, like the world's 1343 01:19:27,240 --> 01:19:29,880 going to burn down. Like, I'm sorry, I refuse to 1344 01:19:29,880 --> 01:19:33,320 believe that. I think the number one, the 1345 01:19:33,320 --> 01:19:39,640 number one threat to human prosperity right now in our day 1346 01:19:39,640 --> 01:19:43,120 and age is the institution of central banking. 1347 01:19:43,520 --> 01:19:46,760 I think that is the number one threat to humanity. 1348 01:19:47,200 --> 01:19:50,520 I think it's the number one threat to the youth. 1349 01:19:51,040 --> 01:19:52,520 It's the. Biggest. 1350 01:19:52,520 --> 01:19:57,600 Obstacle that you have to get ahead and you have a tool to opt 1351 01:19:57,600 --> 01:20:01,640 out of the central banking system into the Bitcoin system 1352 01:20:01,840 --> 01:20:06,440 and you'll immediately start and not immediately, but over time 1353 01:20:06,440 --> 01:20:09,680 you'll start to feel the benefits of that as everything 1354 01:20:09,720 --> 01:20:10,560 around. You gets. 1355 01:20:10,560 --> 01:20:14,400 Progressively cheaper over time. Most of the world has not. 1356 01:20:14,400 --> 01:20:17,400 Waken up to that. Reality The thing is though, is 1357 01:20:17,400 --> 01:20:20,000 that that very system, it needs you. 1358 01:20:20,280 --> 01:20:24,720 It needs you to be within it. It needs you to use it, right? 1359 01:20:25,200 --> 01:20:26,880 Bitcoin system doesn't need you to use it. 1360 01:20:26,880 --> 01:20:30,440 It's, it's optional, right? It's a coercive system versus a 1361 01:20:30,440 --> 01:20:33,520 voluntary system. So yeah, I'll leave it at that. 1362 01:20:34,480 --> 01:20:36,720 I really enjoyed this. This is fantastic. 1363 01:20:36,720 --> 01:20:39,280 Yeah, we should do it again sometime, husband. 1364 01:20:39,280 --> 01:20:40,800 And wife special, but we're gonna. 1365 01:20:40,800 --> 01:20:42,160 Be doing it. I know the rest of the. 1366 01:20:42,320 --> 01:20:44,320 Week, the rest of the. Week opti is. 1367 01:20:44,320 --> 01:20:46,760 Traveling, ladies and gentlemen. So he's in Dallas right now. 1368 01:20:46,760 --> 01:20:49,720 We're gonna be at the Mining District Conference tomorrow. 1369 01:20:50,720 --> 01:20:54,080 Luke Mikic and Chris Alamo are going to be filling in. 1370 01:20:54,080 --> 01:20:55,560 They're going to be hosting the show. 1371 01:20:56,720 --> 01:21:00,560 And then on Wednesday, I forget who it's going to be. 1372 01:21:00,920 --> 01:21:02,600 It's me. It's it's Sophie. 1373 01:21:02,600 --> 01:21:06,240 And Luke? And then Thursday, you and I 1374 01:21:06,240 --> 01:21:09,560 will be back and Friday as well. So bear with us. 1375 01:21:09,560 --> 01:21:12,400 We're going to be traveling again this week for a a mining 1376 01:21:12,400 --> 01:21:15,080 conference. Hopefully we'll get you guys 1377 01:21:15,080 --> 01:21:18,200 some content from there again, go get your tickets at mining 1378 01:21:18,200 --> 01:21:21,600 disrupt the links down below. Get your tickets quickly before 1379 01:21:21,600 --> 01:21:24,440 they sell out. We hope to see you guys there 1380 01:21:24,800 --> 01:21:26,760 and thank you guys so much for tuning in. 1381 01:21:26,760 --> 01:21:29,400 We really appreciate it. Love you guys smash the like 1382 01:21:29,400 --> 01:21:32,040 button. If you guys enjoyed the show and 1383 01:21:32,040 --> 01:21:35,040 we'll see you tomorrow. I mean I'll see you back on 1384 01:21:35,040 --> 01:21:37,920 Thursday, right? I'll see you guys. 1385 01:21:37,960 --> 01:21:39,560 Tomorrow. Sophie will see you guys 1386 01:21:39,560 --> 01:21:41,800 tomorrow. Well, until then, take care 1387 01:21:41,800 --> 01:21:44,280 everybody. Today's episode was. 1388 01:21:44,280 --> 01:21:47,320 Brought to you by bitcoinwell.com, a Bitcoin only 1389 01:21:47,320 --> 01:21:50,560 platform on a mission to enable financial independence.