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Are we seeing the beginning of 
the Bitcoin treasury bubble 

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collapse? 
Everyone focusing on Michael 

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Saylor's 100th Bitcoin buy, but 
they're ignoring the Bitcoin 

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treasury company that just 
liquidated 100% of their Bitcoin

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holdings. 
Now we know that MicroStrategy 

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is safe, or at least most likely
safe, but what would happen to 

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the price of Bitcoin if we 
continue to see more companies 

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dumping their entire Bitcoin 
treasury? 

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Now, I know, I know you, you 
guys are probably in the chat 

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saying we're fighting. 
But hey, we've been talking 

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about this for a minute. 
And if you're looking at the 

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Bitcoin treasury stock prices, a
lot of them are not doing very 

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well. 
Now, Nico and I have been saying

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on the show, most likely micro 
strategy and maybe one or two 

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other ones are going to be going
to be, you know, flying high, 

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they're going to be good to go. 
But a lot of the smaller ones, I

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don't know if they're in trouble
yet, but we are starting to see 

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some worrying signs. 
So I will start with, of course,

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Michael Saylor. 
Michael Saylor did do his 100th 

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buy for MicroStrategy. 
They acquired 592 Bitcoin for 

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roughly 3 three $39.8 million at
67,286 per Bitcoin and now they 

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have about 717,722 Bitcoin. 
So they are lowering their you 

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know cost per Bitcoin. 
Obviously they're buying the dip

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They're they're essentially 
doing ADCA strategy here every 

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week. 
We know sailors said, hey, we're

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going to be buying Bitcoin every
week most likely every quarter 

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forever. 
So Sailor and of course we did 

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play the clips last week where 
sailors saying, look, we're 

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pretty much good to go. 
We're we're going to be able to,

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you know, survive for an 
extended period of time, even if

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Bitcoin got to a ridiculous 8K 
price. 

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So Sailor is good to go. 
We're not here to fund 

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MicroStrategy or Michael Saylor.
It's really about talking about 

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everyone outside of the, you 
know, Sailor camp here. 

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There is a lot of Bitcoin 
treasury companies. 

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Now, of course, we covered this 
last year that it seemed like 

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the Bitcoin hype was shifted 
into the Bitcoin treasury hype. 

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And now we're starting to see 
that it it is, or I mean, the 

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Bitcoin treasury bubble probably
popped a while ago, but now 

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we're starting to see that a lot
of them are getting in trouble. 

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Now, what am I talking about 
here? 

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So it's not the big Bitcoin 
treasury companies, you know, 

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the pure Bitcoin treasury 
company plays, but we did see 

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bit Deer liquidate its entire 
Bitcoin treasury. 

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Now you're probably like, OK, 
you know, they're a Bitcoin 

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mining company. 
But again, all the rage was 

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Bitcoin treasury companies, 
people adding Bitcoin to their 

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balance sheet and they just 
liquidated in the last month or 

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so about 1500 coins and they 
finally dumped about 1000 coins 

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over the weekend. 
So here we go. 

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Bit Dear liquidates entire 
Bitcoin treasury. 

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The miner has sold 100% of its 
corporate Bitcoin holdings. 

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943.1 Bitcoin from reserves 
sold. 

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This was the final batch and 
they even sold the 189.8 Bitcoin

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that was newly mined. 
They're officially at 0 Bitcoin 

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holdings now. 
They are saying that the 

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proceeds are being redirected 
and that they're trying to just,

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you know, beef up their their 
liquidity here. 

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So you can see the chart. 
They've been selling a lot of 

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Bitcoin. 
They had a, you know, a high of 

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Bitcoin and in the last couple 
of months they have completely 

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sold out of all of their Bitcoin
just completely to 0. 

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Now their official response here
is or actually let's let's go to

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this headline. 
This one's a little more 

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interesting. 
I think it says a little more 

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this from Coinbase and it goes 
bit dear sold all its Bitcoin to

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fund its move into AI data 
centers. 

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So we've been seeing this, a lot
of Bitcoin miners have been 

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pivoting into the AI space and 
you're starting to ask yourself 

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why. 
Obviously, as we've been seeing,

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the hash rate has been down, the
hash price has been going up. 

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It wasn't, it was tough for 
Bitcoin miners for the last 

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couple of months, but now it 
seemed to have cooled down a 

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little bit. 
And here they are. 

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They're liquidating their entire
holdings so that they have 

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liquidity to acquire some land. 
Now here is the official 

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response from Bitgear and 
they're they're spinning this a 

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little more positively and they 
go our decision to sell Bitcoin 

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should not be concerned for the 
broader market. 

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We are currently evaluating 
multiple non binding powered 

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land acquisition opportunities 
as a coin to this article said 

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for you know, AI basically and 
we believe it is prudent to 

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prepare liquidity. 
Now, our hash rate will continue

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to grow and we will continue to 
mine more Bitcoin for the 

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interest of our shareholders. 
Now, if you're looking at what 

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happened over the weekend, you 
might want to attribute the 

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Bitcoin dump we saw to 64 K 
because of bit deer dumping 

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their Bitcoin. 
Now, I don't think that that was

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the case. 
I think it's probably more to do

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with the whole tariff stuff 
going on right now. 

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Of course, on Friday we covered 
the news or I, I slightly 

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covered the news in the culture 
that the Trump tariffs were 

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knocked down from the Supreme 
Court. 

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They basically said, hey, this 
is illegal. 

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And then literally right when I 
got off the show, I saw Donald 

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Trump basically say like, it 
doesn't matter what the Supreme 

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Court said. 
We are doing tariffs anyways. 

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And then over the weekend we saw
that now there's a across the 

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board 10 and potentially 15% 
tariffs on every country right 

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now. 
So Trump is using other means 

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for the tariffs. 
And I think that's probably what

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caused this Bitcoin price to 
dump, though. 

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It literally happened at like 
10:00 last night. 

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On Sunday, I had a friend text 
me. 

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He's like, yo, the Bitcoin price
dump. 

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I just responded with Lowell 
because, you know, at this point

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it's either you, you laugh or 
you cry. 

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Now to add, you know, a little 
more wrinkles to this and to 

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prove that this isn't just an 
isolated event from bit dear, I 

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have this tweet right here. 
Rather this chart right here by 

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Charles Edwards, who has been 
very big on the idea that the 

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reason Bitcoin price is down is 
because of quantum computing 

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concerns. 
But he did drop this chart and 

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he goes a new first consecutive 
weeks of first time digital 

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asset treasury sells. 
Is the Bitcoin treasury model 

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unwinding? 
And you can see here is this 

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weekly. 
Yeah, weekly. 

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So three weeks in a row that 
we've seen Bitcoin treasury 

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companies selling Bitcoin. 
This is the first time we've 

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seen that. 
So with the price going down 

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with the current, you know, 
price action, with a lot of 

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uncertainty in the markets and 
the broader markets, 

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geopolitical markets at large, 
you are starting to see a lot of

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pressure on these Bitcoin 
treasury companies, these 

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companies that maybe took a lot 
of debt to get Bitcoin. 

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Now we, we might be seeing more 
of a trend, we might see this 

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trend continue. 
Now to really, you know, put 

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this in context here I am on 
Bitcoin treasuries and of course

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we, we've been talking about 
this for a while. 

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The Bitcoin treasuries, or 
rather the public companies, 

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Bitcoin treasuries, they hold 
over a million Bitcoin. 

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Now there is the public 
companies withhold about 300,000

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Bitcoin. 
So that's a total of about, you 

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know, almost 1.5 million Bitcoin
that are sitting in Bitcoin 

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treasury companies. 
That's where this is starting to

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get really big and concerning 
guys. 

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And obviously that total 1.5 
million Bitcoin isn't going to 

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get liquidated tomorrow. 
But if we do start to see the 

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price action get lower, continue
to go sideways for who knows how

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long, A lot of the companies 
that probably aren't managed the

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best, they don't have a, you 
know, rocket scientist behind 

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them manufacturing some 
financial engineering here. 

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There could potentially be more 
Bitcoin selling on the horizon. 

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And as we've been covering for 
the last couple of months, you 

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know, we can we can attribute 
the Bitcoin drops to a lot of 

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stuff there's been a lot of 
speculations about. 

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It's Binance selling a billion 
coins instead of buying a 

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billion coins. 
There's a lot of OG selling 

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Bitcoin for the last year and a 
half. 

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If we get in more hot water here
and now, a lot of these Bitcoin 

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treasuries are going to have to 
dump, you know, potentially 

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their entire holdings here like 
bit deer did. 

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That's 1.5 million Bitcoin 
that's going to hit the hit, you

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know, the exchanges hit the 
market. 

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On the one hand, hey, cheap sets
for us distribution of coins. 

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Again, this is healthy for 
bitcoins distribution of people 

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holding Bitcoin. 
But what is that going to do to 

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the price if we have to deal 
with another 1.5 or rather just 

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flat 1,000,000 coins being sold 
being dumped on our heads again,

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guys, we might be in for as Nico
was saying, you know, 40K 

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Bitcoin price if this actually 
happens. 

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Now I'm again, I'm not spreading
FUD and saying, oh, it's going 

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to happen. 
All I'm saying is we are seeing 

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a trend of Bitcoin treasury 
companies needing to sell their 

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coins. 
And if this bit deer scenario, 

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this isolated scenario, bit deer
is a broader trend of what other

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Bitcoin treasury companies are 
feeling, feeling like, hey, I 

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might need to get into cash. 
I might need to liquidate my 

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holdings. 
I might not be able to continue 

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the strategy, especially when a 
lot of the Bitcoin treasury 

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companies are like 90% down it. 
It's starting to get bloody out 

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there, guys. 
Now, is this the, you know, the 

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final sacrifice we need for the 
bear or the bull market to 

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continue? 
Is this even Nico said this 

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morning, You know, we might be 
seeing some some bottom signals 

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now with these Bitcoin 
treasuries coming. 

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I think we do potentially or 
rather we will potentially see 

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more capitulation here. 
I know the bit, dear official 

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Twitter account. 
They kind of spun this a little 

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more positively like, hey, we're
not in trouble, but it it is 

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something that is on my radar 
right now. 

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If we if we see more Bitcoin 
treasury companies sell, then 

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hopefully it happens quickly so 
we can find a bottom quickly and

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not go sideways with all this 
uncertainty. 

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But it does look rather maybe, 
Nico, maybe this does confirm 

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the idea that we've been talking
about for a while that the 

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Bitcoin price was, for lack of a
better term, suppressed because 

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all of the capital, all the hype
was going into the Bitcoin 

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treasury companies. 
And like we saw in 2017 with the

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ICO booms, they're finally, you 
know what, they're finally 

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interacting with gravity. 
It's finally coming down and we 

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are getting back to reality 
here. 

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Hopefully this happens a lot 
quicker because then finally we 

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bought them and we can continue 
the game. 

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We can continue rising up. 
We can finally get our our, you 

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know, as all of us Bitcoiners 
always talk about the final 

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sacrifice before we can start to
run up again. 

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But what do you take? 
What what's your read on this 

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bit, dear announcement? 
Do you, do you think this is PR 

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00:11:13,560 --> 00:11:19,600
spin or you know, or, or are we 
seeing a a greater trend for the

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Bitcoin treasury bubble 
collapsing? 

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00:11:23,520 --> 00:11:26,720
I mean, dude, look, I, I, I 
called this, I called this in 

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October, right? 
I told you that as this bear 

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market progresses, while you and
Walker were like literally 

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beating me up, I said guilty. 
We are going to see a bunch of 

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different treasury companies 
collapse and that's exactly what

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we've seen playing out. 
Like not only not only has it 

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been bit deer, bit Deer's the 
the, the biggest one, they're 

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huge public miner, but also we 
saw sequins. 

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We also saw Nakamoto, I believe 
sold some Bitcoin as well. 

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00:12:01,600 --> 00:12:08,240
So in there was a a recent 
interview with Michael Saylor 

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00:12:08,480 --> 00:12:12,240
and for the first time ever, he 
goes out and he tells his 

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00:12:12,240 --> 00:12:17,240
investors that, hey, look, if 
you know Bitcoin is below, you 

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know our M NAV is below a 
certain price, we might be put 

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in a position where we have to 
sell Bitcoin, right? 

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So you know paper Bitcoin summer
is officially over. 

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Thank God. 
Honestly, paper. 

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Bitcoin summer is officially 
over. 

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The market is based basically 
checking out these treasury 

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companies and they're coming to 
a realization that, hey, we 

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00:12:39,760 --> 00:12:43,480
actually have to become a 
company, We actually have to 

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have cash flow. 
I was actually having a, a very 

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00:12:47,280 --> 00:12:51,640
enlightening conversation with 
Jack Mahler's or Jack Ballers, 

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however you want to call them. 
Big fan of, of just his media 

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00:12:55,240 --> 00:12:57,000
and his, the products that he's 
built. 

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00:12:57,280 --> 00:13:01,320
And he, he has even come to this
realization. 

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00:13:01,920 --> 00:13:06,400
We, we were having a, a like a, 
you know, a conversation and at 

228
00:13:06,400 --> 00:13:09,280
Plan B, which by the way, we 
posted on our YouTube, you guys 

229
00:13:09,280 --> 00:13:12,160
should go check it out. 
And he, he even said, like, look

230
00:13:12,160 --> 00:13:16,320
like we have 21 has to take a 
look at, you know, on, on how to

231
00:13:16,320 --> 00:13:18,480
make, how to build a profitable 
business. 

232
00:13:18,480 --> 00:13:22,440
It's not just about holding 
Bitcoin on your balance sheet. 

233
00:13:22,640 --> 00:13:27,400
It's about about actually having
the cash flow as a business and 

234
00:13:27,400 --> 00:13:33,160
then using Bitcoin as as a 
treasury asset, not just the 

235
00:13:33,160 --> 00:13:35,920
company being a treasury asset 
itself. 

236
00:13:36,560 --> 00:13:39,800
Because it actually doesn't 
quite it doesn't make sense, 

237
00:13:39,800 --> 00:13:42,000
right? 
Like if you think about it like,

238
00:13:43,160 --> 00:13:45,920
OK, let's say you're an 
institutional investor, or let's

239
00:13:45,920 --> 00:13:48,440
say you're you're someone who's 
older and and you don't feel 

240
00:13:48,440 --> 00:13:51,920
comfortable with just buying 
spot Bitcoin and putting it in 

241
00:13:51,920 --> 00:13:55,560
self custody. 
I understand that argument, but 

242
00:13:55,560 --> 00:13:58,200
then why not just buy the ETF, 
right? 

243
00:13:58,800 --> 00:14:01,280
Because if you're just buying 
the treasury company, you're 

244
00:14:01,280 --> 00:14:04,160
taking additional risk. 
Like you're not just buying 

245
00:14:04,160 --> 00:14:07,400
exposure to Bitcoin, you're 
actually betting on the fact 

246
00:14:07,400 --> 00:14:10,800
that management is not going to 
dilute your shares. 

247
00:14:10,800 --> 00:14:13,600
You're actually betting that 
management is going to do a good

248
00:14:13,600 --> 00:14:18,160
job. 
It's, it's, it's a lot riskier. 

249
00:14:18,400 --> 00:14:21,360
So what is the actual point of 
buying a treasury company? 

250
00:14:21,360 --> 00:14:23,920
And one of the things that I've 
noticed on, on I think it was 

251
00:14:23,920 --> 00:14:26,880
Bitcoin treasuries like it, look
at the M Navs. 

252
00:14:27,320 --> 00:14:33,880
The craziest M Navs that are 
like 50X40X are Tesla block. 

253
00:14:35,000 --> 00:14:38,880
Basically what that means is the
companies that actually have 

254
00:14:38,880 --> 00:14:43,080
cash flow are significantly 
higher in their M navs because 

255
00:14:43,080 --> 00:14:45,840
their valuations are 
significantly higher than the 

256
00:14:45,840 --> 00:14:47,840
Bitcoin that they hold in their 
treasuries. 

257
00:14:47,840 --> 00:14:50,080
Right? 
Because the company is being 

258
00:14:50,080 --> 00:14:54,000
valued based on how profitable 
that company is. 

259
00:14:54,240 --> 00:14:59,240
And you know, a Bitcoin treasury
is a part of that equation. 

260
00:14:59,240 --> 00:15:02,440
It's a part of that, of that 
math, right? 

261
00:15:02,800 --> 00:15:06,560
I think strategy in and of 
itself, I'm a fan of sailor. 

262
00:15:06,640 --> 00:15:14,360
I think that, you know, buying 
strategy at $50 a share would be

263
00:15:14,360 --> 00:15:17,160
a steal. 
I think buying it under $100 

264
00:15:17,160 --> 00:15:20,080
would be a a, a a great purchase
in my opinion. 

265
00:15:21,480 --> 00:15:23,840
You know it it right now it's at
what, 125 or? 

266
00:15:23,840 --> 00:15:25,000
Something. 
Yeah, something like that. 

267
00:15:25,680 --> 00:15:30,240
So I, I, I have, I have all the 
confidence in the world that 

268
00:15:30,240 --> 00:15:36,800
Strategy 21 and potentially 
Nakamoto are going to return and

269
00:15:36,800 --> 00:15:40,560
all their glory when we when we 
hit the next bull market. 

270
00:15:40,560 --> 00:15:44,400
But what I've been saying for 
the last couple of months, and 

271
00:15:44,400 --> 00:15:48,800
I've been right and I'm sticking
to it, is the fact that, hey, 

272
00:15:49,280 --> 00:15:54,360
the smaller treasury companies 
that took on riskier debt or 

273
00:15:54,400 --> 00:15:58,840
diluted their shareholders to 
buy additional Bitcoin, I was 

274
00:15:58,840 --> 00:16:01,840
telling you that those companies
were going to find themselves in

275
00:16:01,840 --> 00:16:04,720
trouble. 
And one of the largest Bitcoin 

276
00:16:04,720 --> 00:16:09,360
miners in the world, bit dear 
capitulated and they capitulated

277
00:16:09,360 --> 00:16:13,120
hard, like hard. 
And they had PR blowback, by the

278
00:16:13,120 --> 00:16:17,360
way, they had to go out on 
Twitter and basically say, hey 

279
00:16:17,360 --> 00:16:21,920
guys, we still believe in 
Bitcoin 100%, We're still mining

280
00:16:21,920 --> 00:16:24,640
it. 
But essentially we've sold all 

281
00:16:24,640 --> 00:16:28,200
our Bitcoin. 
Like that's not like that's not 

282
00:16:28,200 --> 00:16:30,840
a sign of confidence. 
And by the way, it's not just 

283
00:16:30,840 --> 00:16:34,040
bit deer doing this. 
We we saw a post, it was 

284
00:16:34,040 --> 00:16:37,120
actually by pleadator that post.
Oh yeah, I have. 

285
00:16:37,120 --> 00:16:40,840
It let me pull that up. 
That basically you know the 

286
00:16:40,840 --> 00:16:44,360
Winklevi, which I'm also a fan, 
a fan of, I think Gemini's great

287
00:16:44,360 --> 00:16:46,040
in terms of the products that 
they offer. 

288
00:16:46,560 --> 00:16:48,360
The Gemini credit card's pretty 
cool. 

289
00:16:48,800 --> 00:16:55,880
And basically he's like, I, I've
never seen sentiment this bad. 

290
00:16:56,200 --> 00:17:00,480
And then platitor found receipts
of basically the the fund that 

291
00:17:00,480 --> 00:17:04,119
the Winklevi have, they've been 
selling Bitcoin for over a year 

292
00:17:04,119 --> 00:17:06,319
now, right? 
So it's like you're basically 

293
00:17:06,319 --> 00:17:08,319
saying, I've never seen the 
sentiment so bad, but 

294
00:17:08,319 --> 00:17:11,400
simultaneously your fund has 
been selling Bitcoin this entire

295
00:17:11,400 --> 00:17:13,920
time. 
That's not a really good sign of

296
00:17:13,920 --> 00:17:16,119
confidence. 
But I'm going to weave it back 

297
00:17:16,119 --> 00:17:18,480
in and I'm going to bring all 
this back in and just tell you 

298
00:17:18,480 --> 00:17:21,800
guys because it has been 
negative Nancy for, you know, 

299
00:17:21,800 --> 00:17:23,440
the, the beginning part of the 
show. 

300
00:17:23,760 --> 00:17:27,240
But what I will tell you is that
I, I love this. 

301
00:17:27,280 --> 00:17:32,840
I really love this because for 
the first time in many, many 

302
00:17:32,840 --> 00:17:36,480
years, we're seeing uncertainty 
in the markets. 

303
00:17:36,480 --> 00:17:39,520
We're seeing doubt creep in. 
We're seeing. 

304
00:17:39,640 --> 00:17:41,040
Here's a tweet, Nico, here's a 
tweet. 

305
00:17:42,160 --> 00:17:44,520
Do you want to read it? 
Yeah, you did. 

306
00:17:44,520 --> 00:17:46,080
You pull it up. 
Yeah, yeah. 

307
00:17:46,080 --> 00:17:51,000
So Tyler Winklevoss 14 hours ago
goes basically saying exactly 

308
00:17:51,000 --> 00:17:53,200
what Nico just said. 
The sentiment in crypto right 

309
00:17:53,200 --> 00:17:55,560
now is so bad that I'm actually 
pretty optimistic. 

310
00:17:55,560 --> 00:17:59,040
And then Plederner goes, then 
why has the Arkham tag 

311
00:17:59,040 --> 00:18:02,760
Winklevoss Capital wallet been 
selling off Bitcoin non-stop for

312
00:18:02,760 --> 00:18:06,040
a year, a year straight? 
And you can see here they had 

313
00:18:06,040 --> 00:18:11,640
about 23 and some change 
thousand Bitcoin and currently 

314
00:18:11,640 --> 00:18:15,280
have have under 12K, so around 
11 K Bitcoin. 

315
00:18:15,280 --> 00:18:17,840
So they sold also 50% of their 
stack here. 

316
00:18:18,600 --> 00:18:22,120
So it's further proof that this 
is going around and and people 

317
00:18:22,120 --> 00:18:26,040
are selling Bitcoin even though 
a lot of the narrative is, hey, 

318
00:18:26,040 --> 00:18:28,120
we're going to be holding this 
Bitcoin forever. 

319
00:18:28,120 --> 00:18:30,000
So all right, anyways, continue 
Nico. 

320
00:18:30,920 --> 00:18:33,920
So, yeah, I mean, like, look 
like fundamentally at the end of

321
00:18:33,920 --> 00:18:37,320
the day, it's like, don't pay 
attention to what they say, pay 

322
00:18:37,320 --> 00:18:40,560
attention to what they do. 
And the reality is that I think 

323
00:18:40,560 --> 00:18:45,600
right now there's like this, 
this shaking of confidence. 

324
00:18:46,360 --> 00:18:51,120
The shaking of confidence I 
think comes from the fact that 

325
00:18:52,280 --> 00:18:58,520
Bitcoin didn't perform to the 
expectations of many this 

326
00:18:58,520 --> 00:19:01,800
previous cycle. 
Like even Lynn Alden, I saw her,

327
00:19:01,800 --> 00:19:04,920
I think it was on the What 
Bitcoin Did podcast where she 

328
00:19:04,920 --> 00:19:07,840
was basically saying something 
along the lines of like look 

329
00:19:07,840 --> 00:19:13,040
like I had I thought Bitcoin was
going to hit at least $150,000 

330
00:19:13,040 --> 00:19:15,960
last cycle and the cycle before 
that I thought I was going to 

331
00:19:15,960 --> 00:19:21,760
hit at least 100. 
And the previous cycle 20/21, it

332
00:19:21,760 --> 00:19:26,560
only hit 69 K and then this 
previous cycle and only hit 126 

333
00:19:26,560 --> 00:19:28,680
K. 
So it actually underperformed 

334
00:19:28,880 --> 00:19:34,200
Linalden's expectations, right. 
So there's this kind of loss of 

335
00:19:34,200 --> 00:19:38,000
confidence in Bitcoin being this
alternative to gold. 

336
00:19:38,040 --> 00:19:40,120
Like that's really what's 
happening here. 

337
00:19:40,120 --> 00:19:42,080
That's the really the main 
story. 

338
00:19:42,400 --> 00:19:49,840
So you have gold answer this 
historic parabolic year in 2025 

339
00:19:50,480 --> 00:19:54,080
goes up 60%. 
It's an asset that's $35 

340
00:19:54,080 --> 00:19:57,360
trillion for. 
So for it to go up 60%, I mean, 

341
00:19:57,560 --> 00:20:01,280
holy shit, the amount of money 
that needs to go into this asset

342
00:20:01,760 --> 00:20:06,280
and it performs amazing. 
And then silver basically like 

343
00:20:06,280 --> 00:20:08,280
acts like a, a shit coin 
essentially. 

344
00:20:08,280 --> 00:20:12,080
It's like 2-3 Xing like over a 
short, a short amount of time. 

345
00:20:12,080 --> 00:20:15,720
Like it's crazy. 
So like I think like right now 

346
00:20:15,720 --> 00:20:19,000
the digital gold narrative is 
being called into question like 

347
00:20:19,000 --> 00:20:20,440
that. 
And that's a reality that a lot 

348
00:20:20,440 --> 00:20:23,440
of people are not. 
Take into account, but here's 

349
00:20:23,440 --> 00:20:26,680
the thing and perhaps you guys 
don't remember this from the 

350
00:20:26,680 --> 00:20:31,160
early days of of Bitcoin and and
how Bitcoin has functioned. 

351
00:20:34,280 --> 00:20:40,240
This is how Bitcoin normally has
been right? 

352
00:20:40,240 --> 00:20:42,400
Like this is what people have 
forgotten. 

353
00:20:42,400 --> 00:20:44,240
Like this is what people need to
remember. 

354
00:20:44,520 --> 00:20:51,360
Like in 2017, the reason that 
you had such crazy potential in 

355
00:20:51,360 --> 00:20:55,680
terms of gains was because there
was so much uncertainty back 

356
00:20:55,680 --> 00:20:58,000
then. 
Like if I would, if you would 

357
00:20:58,000 --> 00:21:02,080
have told me in the beginning of
2017, which for the price of 

358
00:21:02,080 --> 00:21:07,680
Bitcoin was $1000 at that time, 
that, you know, in less than 10 

359
00:21:07,680 --> 00:21:12,080
years it was going to 
essentially 100 X, I wouldn't 

360
00:21:12,080 --> 00:21:14,640
have believed you. 
I, I, I wouldn't have believed 

361
00:21:14,640 --> 00:21:15,600
you. 
I would have been like, that's 

362
00:21:15,600 --> 00:21:17,280
crazy. 
But there was a lot of 

363
00:21:17,280 --> 00:21:19,840
uncertainty back then. 
BlackRock was our enemy. 

364
00:21:19,840 --> 00:21:22,880
Even Sailor didn't believe in 
Bitcoin in that era. 

365
00:21:23,760 --> 00:21:25,840
There was no Bitcoin content, 
right? 

366
00:21:26,040 --> 00:21:28,400
It was like very, very early 
days. 

367
00:21:28,400 --> 00:21:32,360
It wasn't as early as 2013 or 
2014, but there it was still 

368
00:21:32,360 --> 00:21:34,880
early and there's not that much 
confirmation. 

369
00:21:35,000 --> 00:21:39,400
What I disliked about this 
epoch, what I, what I would and 

370
00:21:39,400 --> 00:21:42,920
obviously hindsight's 2020, but 
what I disliked about this epoch

371
00:21:43,160 --> 00:21:45,240
is that there was so much 
certainty. 

372
00:21:45,440 --> 00:21:48,200
There was so much certainty. 
Think about it on Twitter right 

373
00:21:48,200 --> 00:21:51,960
now, there's entire accounts 
that their whole growing 

374
00:21:51,960 --> 00:21:54,400
strategy and maybe we're a 
little bit, we have to talk to 

375
00:21:54,400 --> 00:21:56,880
the Twitter team about this, but
maybe we're a little bit guilty 

376
00:21:56,880 --> 00:21:58,800
of this themselves. 
But it's basically like, look 

377
00:21:58,800 --> 00:22:02,000
like Bitcoin's going to hit 
$1,000,000 guaranteed. 

378
00:22:02,000 --> 00:22:03,960
It's a sure bad 100% like 
whatever. 

379
00:22:03,960 --> 00:22:07,200
And everyone just smashed like 
like 2017 that they didn't even 

380
00:22:07,200 --> 00:22:10,000
exist. 
Like there, there was no Bitcoin

381
00:22:10,000 --> 00:22:12,600
standard. 
Like there was no, none of these

382
00:22:12,600 --> 00:22:17,240
like, like highly intellectual 
people that have the Iqs of like

383
00:22:17,240 --> 00:22:22,400
150 basically making these 
incredible pieces of, of, of, 

384
00:22:22,440 --> 00:22:26,160
of, of like of, of literature 
of, of just like creating these 

385
00:22:26,160 --> 00:22:30,120
incredible pieces of, of, of 
just books and writing and stuff

386
00:22:30,120 --> 00:22:33,720
like that. 
To, to make the thesis for as to

387
00:22:33,720 --> 00:22:37,040
why Bitcoin's going to win, None
of that existed back then. 

388
00:22:37,320 --> 00:22:40,360
So because there is so much 
uncertainty, because there was, 

389
00:22:40,520 --> 00:22:43,920
it wasn't a sure thing. 
It created this asymmetric 

390
00:22:43,920 --> 00:22:47,440
opportunity if you believed in 
Bitcoin very early on. 

391
00:22:47,920 --> 00:22:53,000
For me, the like the factor that
really changed my perspective 

392
00:22:53,000 --> 00:22:56,440
and made me go all in was 
Andreas lectures. 

393
00:22:56,440 --> 00:23:00,040
When I heard Andreas lectured, I
was like, Oh my God, like this 

394
00:23:00,040 --> 00:23:02,640
isn't just about making money. 
This is like, like we're going 

395
00:23:02,640 --> 00:23:07,280
to win basically. 
And it was a lot more 

396
00:23:07,280 --> 00:23:10,360
revolutionary back then. 
It, now it, it, it kind of 

397
00:23:10,360 --> 00:23:14,640
transforms like now it's the 
financialization of Bitcoin. 

398
00:23:15,800 --> 00:23:21,720
And you know, I, I kind of like 
what happened because these 

399
00:23:21,720 --> 00:23:24,720
treasury companies are either 
going to be forced to pivot 

400
00:23:24,800 --> 00:23:27,160
except for strategy because 
strategy has a different 

401
00:23:27,400 --> 00:23:31,080
strategy, no pun intended. 
Metaplanet might be good too. 

402
00:23:31,680 --> 00:23:35,120
And metaplanet, but more so 
strategy. 

403
00:23:36,000 --> 00:23:41,400
Strategy is going to be OK. 
But you know the the concept of 

404
00:23:41,520 --> 00:23:49,600
just a company buying Bitcoin 
and being public and then the 

405
00:23:49,600 --> 00:23:54,400
markets assigning value to that,
I think that concept is over. 

406
00:23:54,440 --> 00:23:57,440
I think it's done. 
I think it had its moment over 

407
00:23:57,440 --> 00:24:00,400
the summer. 
We had our blow off tops in 

408
00:24:00,400 --> 00:24:04,440
Bitcoin in those companies. 
A lot of the capital that it 

409
00:24:04,440 --> 00:24:09,240
would have otherwise just bought
spot Bitcoin went straight into 

410
00:24:09,240 --> 00:24:13,520
these treasury companies and 
that's what happened over the 

411
00:24:13,520 --> 00:24:15,080
summer. 
And I think that's part of the 

412
00:24:15,080 --> 00:24:17,680
reason we didn't have this crazy
normal parabola. 

413
00:24:18,200 --> 00:24:22,120
And now we have uncertainty back
in the markets again. 

414
00:24:22,400 --> 00:24:26,560
And now as we head into the new 
cycle, which we're beginning, 

415
00:24:26,560 --> 00:24:28,800
we're in the we're 
congratulations guys. 

416
00:24:28,800 --> 00:24:31,600
This is like the new cycle. 
You've made it a cycle. 

417
00:24:32,400 --> 00:24:34,160
We're in a new cycle without a 
doubt. 

418
00:24:34,160 --> 00:24:38,880
Now the question is, how are we 
going to, you know, where are we

419
00:24:38,880 --> 00:24:41,520
going to bottom out? 
That's the big question. 

420
00:24:42,680 --> 00:24:46,800
Are we going to bottom out at, 
you know, at AT60K? 

421
00:24:46,800 --> 00:24:48,680
Are we going to bottom out at 
45? 

422
00:24:48,680 --> 00:24:50,320
Are we going to bottom out at 
31? 

423
00:24:50,680 --> 00:24:53,280
Right. 
That's the big question. 

424
00:24:53,280 --> 00:24:57,120
No one knows, but I am. 
I, I am pretty confident to say 

425
00:24:57,120 --> 00:24:59,000
that I think we're going to 
bottom out this year without a 

426
00:24:59,000 --> 00:25:04,480
shadow of a doubt. 
And I think that, you know, the 

427
00:25:04,480 --> 00:25:08,200
cycle's going to repeat itself. 
You know, nature's going to 

428
00:25:08,200 --> 00:25:11,880
heal. 
I think 2020 at the end of 2026 

429
00:25:11,880 --> 00:25:14,520
is going to be a great year. 
I think the big 2027's going to 

430
00:25:14,520 --> 00:25:16,800
be a great year. 
I think 2028 is going to be in 

431
00:25:16,800 --> 00:25:19,440
great, a great year and 2029 is 
going to be an incredible year 

432
00:25:19,440 --> 00:25:21,960
as well. 
But but basically the cycle's 

433
00:25:21,960 --> 00:25:27,120
just repeating itself and let's 
see what the you know, let let 

434
00:25:27,120 --> 00:25:30,400
let's see how Bitcoin does it. 
It my personal opinion is I, 

435
00:25:30,440 --> 00:25:34,400
I'm, I feel incredibly bullish 
after we get through this kind 

436
00:25:34,400 --> 00:25:38,120
of nature healing itself, 
because it really did need to 

437
00:25:38,120 --> 00:25:40,520
heal itself. 
Like a lot of these companies 

438
00:25:40,520 --> 00:25:45,880
were treasure were trading at 
like 5X5 M NAV, like 10 M NAV. 

439
00:25:45,920 --> 00:25:49,120
I'm not going to name any names,
but some of the some of the 

440
00:25:49,120 --> 00:25:52,940
Bitcoin treasury companies and 
the way that Mauricio, the Co 

441
00:25:52,940 --> 00:25:56,080
founder of lead Leaden described
it to me, he was basically like 

442
00:25:56,080 --> 00:25:59,160
Nico, like essentially, if you 
were buying one of these 

443
00:25:59,160 --> 00:26:03,120
companies and they were trading 
at 5 * M NAV, you essentially 

444
00:26:03,120 --> 00:26:06,560
could have put that same amount 
of capital into Bitcoin and you 

445
00:26:06,560 --> 00:26:10,520
would have gotten five times as 
much Bitcoin then if you just 

446
00:26:10,520 --> 00:26:14,520
bought these companies trading 
at 5 M NAV like it was. 

447
00:26:14,520 --> 00:26:18,200
We did have a mania phase. 
It just didn't happen happen in 

448
00:26:18,200 --> 00:26:21,760
spot Bitcoin. 
It happened in like, you know, 

449
00:26:21,760 --> 00:26:24,880
in the traditional financial 
markets and these Bitcoin 

450
00:26:24,880 --> 00:26:29,320
proxies, so to speak, in these 
paper Bitcoin vehicles, so to 

451
00:26:29,320 --> 00:26:30,200
speak. 
I know that could be 

452
00:26:30,200 --> 00:26:32,800
controversial to say that, but 
anyway, always. 

453
00:26:33,400 --> 00:26:36,400
Wait, wait, can we? 
I also have a theory as well, a 

454
00:26:36,920 --> 00:26:41,200
very interesting theory. 
And we're right more we're more 

455
00:26:41,200 --> 00:26:45,520
right often than we are wrong. 
OK, so no, that's not true. 

456
00:26:45,520 --> 00:26:46,200
I'm. 
Trolling. 

457
00:26:46,200 --> 00:26:47,240
I'm trolling. 
I'm trolling. 

458
00:26:47,240 --> 00:26:48,920
Dude. 
We're we're trolling. 

459
00:26:48,960 --> 00:26:51,160
We're more right than we are 
wrong, but I'm going to, I'm 

460
00:26:51,160 --> 00:26:52,400
going to tell you guys this 
theory. 

461
00:26:52,840 --> 00:26:55,080
I've. 
I've been thinking about this 

462
00:26:55,080 --> 00:26:56,720
over the weekend. 
I want to, I want to get your 

463
00:26:56,720 --> 00:27:01,800
guys this thoughts. 
So in 2021 the bull market got 

464
00:27:01,800 --> 00:27:07,280
cut short. 
We essentially we didn't go as 

465
00:27:07,280 --> 00:27:12,200
high as we normally would. 
And the reason, the primary 

466
00:27:12,200 --> 00:27:14,760
reason for that, and I know 
people disagree with this, but 

467
00:27:15,040 --> 00:27:17,240
they can shut up because I know 
I'm right on this. 

468
00:27:17,440 --> 00:27:19,600
The correlation is just too 
strong. 

469
00:27:20,000 --> 00:27:25,040
But basically the 2021 bull 
market, it was cut short because

470
00:27:25,040 --> 00:27:28,440
of the China mining man. 
You literally saw Bitcoin had 

471
00:27:28,440 --> 00:27:31,760
this double top. 
And in between the double top, 

472
00:27:31,760 --> 00:27:34,880
you saw a direct correlation 
between the hash rate and the 

473
00:27:34,880 --> 00:27:40,240
price of Bitcoin, right? 
This cycle, we didn't really 

474
00:27:40,240 --> 00:27:43,240
have a top. 
We had this like like this top 

475
00:27:43,240 --> 00:27:46,720
on apathy. 
But it was strange because 

476
00:27:46,840 --> 00:27:50,840
instead of Bitcoin going 
parabolic, you saw gold go 

477
00:27:50,840 --> 00:27:55,920
parabolic in the meantime. 
And before that we basically 

478
00:27:55,960 --> 00:28:00,520
gold went sideways for like, 
what was it like 10 years, 10-15

479
00:28:00,520 --> 00:28:06,040
years before that happened? 
So like in my mind, I'm thinking

480
00:28:06,160 --> 00:28:10,480
like, if you're a government and
you don't want people to use a 

481
00:28:10,480 --> 00:28:15,680
non sovereign alternative to 
your local Fiat currency, what 

482
00:28:15,680 --> 00:28:20,520
would you need to do? 
The primary thing that you would

483
00:28:20,520 --> 00:28:24,320
need to do is for the Bitcoin 
price not to go up. 

484
00:28:24,800 --> 00:28:28,480
Like when we had these leaks 
coming out of these European 

485
00:28:28,480 --> 00:28:31,720
politicians when they're talking
about the Mika laws and like 

486
00:28:31,720 --> 00:28:35,000
whatever, like some of their, 
their communications, like what 

487
00:28:35,000 --> 00:28:38,280
they would say is basically like
we, we, we, we have to do 

488
00:28:38,280 --> 00:28:40,240
something about the price. 
We have to do something about 

489
00:28:40,240 --> 00:28:42,720
the price. 
So think about this for a 

490
00:28:42,720 --> 00:28:47,040
second. 
What is one of the best ways for

491
00:28:47,040 --> 00:28:49,320
people to lose confidence in 
Bitcoin? 

492
00:28:50,880 --> 00:28:59,640
In 2021, it was basically the 
Chinese government canceling or 

493
00:28:59,640 --> 00:29:02,440
basically banning all those 
Bitcoin miners. 

494
00:29:02,960 --> 00:29:06,000
We didn't get a normal 
parabolic. 

495
00:29:06,000 --> 00:29:07,560
We're on. 
We got a blow off top. 

496
00:29:07,560 --> 00:29:10,360
I would call it a mute off top, 
a muted top. 

497
00:29:11,400 --> 00:29:16,960
And then in 2025, instead of 
Bitcoin having a parabolic year,

498
00:29:17,320 --> 00:29:21,040
it was gold. 
And you know who controls all 

499
00:29:21,040 --> 00:29:25,160
the gold in the world? 
Banks and central and 

500
00:29:25,160 --> 00:29:29,440
governments. 
So like I I'm not trying to be a

501
00:29:29,440 --> 00:29:33,440
conspiracy theorist here, but. 
No, no, it's actually I, I 

502
00:29:33,440 --> 00:29:35,480
wanted to explore that idea in 
the culture. 

503
00:29:35,480 --> 00:29:37,480
I I have some good tweaks on 
this, so we'll continue the 

504
00:29:37,480 --> 00:29:38,360
combo. 
But yeah, keep going. 

505
00:29:38,360 --> 00:29:42,920
It it, it's, it's, it's surely 
convenient is what I'm trying to

506
00:29:42,920 --> 00:29:46,600
say that in the two years that's
that Bitcoin was meant to go 

507
00:29:46,600 --> 00:29:51,240
parabolic as in 2017. 
And the parabolas are really 

508
00:29:51,240 --> 00:29:55,800
what drives the crazy adoption. 
You have the China mining ban in

509
00:29:55,800 --> 00:30:01,160
2021, and in 2025, instead of 
Bitcoin going parabolic, you 

510
00:30:01,160 --> 00:30:05,080
have gold being going parabolic.
And conveniently, you know who 

511
00:30:05,080 --> 00:30:08,360
controls gold? 
Governments do, right? 

512
00:30:08,720 --> 00:30:12,080
So it's like, and you know what,
what, what one of the biggest 

513
00:30:12,080 --> 00:30:16,160
narrative killers of Bitcoin 
succeeding would be because 

514
00:30:16,160 --> 00:30:18,880
again, this is what Michael 
Saylor was saying for so many 

515
00:30:18,880 --> 00:30:20,760
years. 
He's saying the US government 

516
00:30:20,760 --> 00:30:24,600
should sell all that gold and 
buy Bitcoin because gold is 

517
00:30:24,600 --> 00:30:27,560
essentially this dead metal. 
And then the year that Bitcoin 

518
00:30:27,560 --> 00:30:30,440
is supposed to go parabolic, 
gold goes up 60%. 

519
00:30:31,640 --> 00:30:36,560
How convenient, right? 
So it could be, again, there's 

520
00:30:36,560 --> 00:30:40,680
no confirmation of this, but I 
don't have any shame like I used

521
00:30:40,720 --> 00:30:44,040
to when I used to have like 
connect the the dots the way 

522
00:30:44,040 --> 00:30:49,240
that I have because we've been 
more, we've been right so much 

523
00:30:49,240 --> 00:30:51,480
more than we've been wrong over 
the years. 

524
00:30:51,760 --> 00:30:54,640
You know, bringing you 
tomorrow's Bitcoin news today 

525
00:30:54,640 --> 00:30:59,960
here at Simply Bitcoin. 
Could this be a sabotage by 

526
00:30:59,960 --> 00:31:06,720
central banks to basically psyop
people into losing faith in 

527
00:31:06,720 --> 00:31:12,240
Bitcoin by essentially finally 
allowing the the gold price to 

528
00:31:12,240 --> 00:31:16,200
run? 
Because we all know that gold 

529
00:31:16,200 --> 00:31:21,680
essentially has been suppressed 
by the paper gold mechanism for 

530
00:31:21,680 --> 00:31:24,880
a very long time now. 
We've, I've had Caitlin Long 

531
00:31:24,880 --> 00:31:26,280
come on the show to talk about 
this. 

532
00:31:26,280 --> 00:31:29,720
I've had Larry Leopard come on 
the show to talk about this and 

533
00:31:29,720 --> 00:31:33,680
it's like an open, it's an open 
secret that, you know, paper 

534
00:31:33,760 --> 00:31:37,080
gold should be a lot more 
expensive, but because of the 

535
00:31:37,080 --> 00:31:39,680
paper gold in the market, it's 
not. 

536
00:31:40,160 --> 00:31:44,240
Could it be that the year 2025 
governments are like, listen, we

537
00:31:44,240 --> 00:31:47,480
can't stop this Bitcoin thing. 
So what we're going to do is 

538
00:31:47,480 --> 00:31:51,480
we're going to let gold run. 
We control gold anyways. 

539
00:31:51,720 --> 00:31:54,560
We have total control over the 
custody of gold. 

540
00:31:54,720 --> 00:31:57,520
Most of the gold is in our 
vaults, right? 

541
00:31:57,680 --> 00:32:00,000
Let's just let gold run. 
Allegedly. 

542
00:32:00,000 --> 00:32:03,960
Let's just let gold run. 
We can't have this non sovereign

543
00:32:03,960 --> 00:32:07,800
alternative of which the 
majority is held by individuals 

544
00:32:08,040 --> 00:32:11,480
continue to go parabolic because
that's just going to lead to 

545
00:32:11,480 --> 00:32:16,120
more adoption of this and more 
adoption of Bitcoin means less 

546
00:32:16,120 --> 00:32:22,400
control for governments. 
It that like again, that I, I, I

547
00:32:22,400 --> 00:32:25,600
wouldn't, this is completely 
speculative. 

548
00:32:25,880 --> 00:32:30,720
I have no evidence of that. 
But again, the incentives do 

549
00:32:30,720 --> 00:32:32,720
line up. 
They do line up. 

550
00:32:33,120 --> 00:32:34,600
You can't, you can't question 
that. 

551
00:32:34,840 --> 00:32:40,800
And then you you put in, you 
weave this in the civil war that

552
00:32:40,800 --> 00:32:46,240
is happening between the Federal
Reserve and Donald John Trump, 

553
00:32:47,160 --> 00:32:49,440
right? 
President Trump, like we're 

554
00:32:49,440 --> 00:32:52,400
basically they're, they're 
artificially keeping the 

555
00:32:52,400 --> 00:32:55,840
interest rates high, basically 
making the argument it's like, 

556
00:32:55,840 --> 00:33:00,200
oh, no, inflation is running too
hot, while simultaneously, you 

557
00:33:00,200 --> 00:33:03,800
know, they, they, they were very
easy in terms of their monetary 

558
00:33:03,800 --> 00:33:06,400
policy when the previous 
administration was in power, 

559
00:33:06,760 --> 00:33:10,520
right? 
So again, I, I, I think that 

560
00:33:10,520 --> 00:33:14,680
there could be something bigger 
at play here that is trying to 

561
00:33:14,680 --> 00:33:19,120
stop the adoption of Bitcoin and
the inclusion of Bitcoin in the 

562
00:33:19,120 --> 00:33:22,720
traditional financial system. 
And the one of the best ways to 

563
00:33:22,720 --> 00:33:26,040
stop Bitcoin is for number not 
to go up. 

564
00:33:26,600 --> 00:33:29,200
If number doesn't go up, I'm 
telling you guys that that is 

565
00:33:29,200 --> 00:33:32,560
the most important feature of 
Bitcoin is number going up. 

566
00:33:32,800 --> 00:33:34,640
Like, yeah, the sovereignty is. 
Good. 

567
00:33:35,040 --> 00:33:37,840
The self custody is good. 
All of that is good. 

568
00:33:37,840 --> 00:33:42,040
Like make no mistake. 
But like the absolute scarcity 

569
00:33:42,040 --> 00:33:45,440
narrative, no one gives a flying
fuck about that narrative unless

570
00:33:45,440 --> 00:33:48,800
number goes up, right? 
Like the success of Bitcoin is 

571
00:33:48,800 --> 00:33:51,120
binary. 
Michael say, Michael Saylor said

572
00:33:51,120 --> 00:33:53,720
it the other day. 
This thing either goes to 0 or 

573
00:33:53,720 --> 00:33:56,520
it goes to a million. 
It doesn't just go sideways 

574
00:33:56,600 --> 00:33:59,440
ways. 
Like if Bitcoin can't even beat 

575
00:33:59,840 --> 00:34:05,800
the S&P 500, if Bitcoin can't 
even beat the price appreciation

576
00:34:05,800 --> 00:34:09,719
of gold, then what the hell are 
we all doing here, right? 

577
00:34:09,719 --> 00:34:12,719
Like, that's the, that's the 
blunt, honest truth, right? 

578
00:34:12,960 --> 00:34:18,239
So I think there could be some 
dark forces at play that are 

579
00:34:18,239 --> 00:34:21,360
trying to basically stop the 
adoption of Bitcoin by 

580
00:34:21,360 --> 00:34:23,120
suppressing the price of 
Bitcoin. 

581
00:34:23,840 --> 00:34:27,120
What the hell do I know, That's 
just the theory I have. 

582
00:34:29,159 --> 00:34:34,600
Q Alex Jones with the tinfoil 
hat on now, I I kind of agree. 

583
00:34:34,600 --> 00:34:37,920
Look, I, I've said it before 
and, and the chat never really 

584
00:34:37,920 --> 00:34:42,080
likes this when I say it, but I,
I completely agree with Nico on 

585
00:34:42,080 --> 00:34:46,760
the fact that like you may like 
other reasons about Bitcoin, but

586
00:34:46,760 --> 00:34:50,120
the most important thing to get 
people to adopt Bitcoin is 

587
00:34:50,120 --> 00:34:53,440
number go up. 
That's that's just how it is. 

588
00:34:53,520 --> 00:34:56,560
Look, all the other features 
that we love about Bitcoin are 

589
00:34:56,560 --> 00:35:01,880
all great, but without number 
going up, people don't find a 

590
00:35:01,880 --> 00:35:04,440
reason to get into Bitcoin and 
without number go up. 

591
00:35:05,880 --> 00:35:08,040
That is, This is why no one's 
here now. 

592
00:35:09,520 --> 00:35:11,400
Who'd you say? 
You say say Sailor said that 

593
00:35:11,400 --> 00:35:13,320
about gold. 
Because I, I'm, I'm being 

594
00:35:13,320 --> 00:35:16,040
reminded that even safety had 
said this a long time ago. 

595
00:35:16,040 --> 00:35:19,640
He's like, the only thing that 
could really stop Bitcoin is if 

596
00:35:20,360 --> 00:35:22,400
the world went back on a gold 
standard. 

597
00:35:23,680 --> 00:35:26,360
He said that years ago. 
But when I interviewed him in 

598
00:35:26,360 --> 00:35:29,520
Lugano, he said that, yeah, that
was one of the things he said. 

599
00:35:29,800 --> 00:35:32,440
He said the world going back on 
a gold standard and how 

600
00:35:32,440 --> 00:35:36,240
convenient the day, the the year
that Bitcoin is supposed to go 

601
00:35:36,240 --> 00:35:41,840
parabolic all of a sudden, like 
gold wakes up from a slumber and

602
00:35:41,840 --> 00:35:44,240
you know it. 
It has this amazing performance 

603
00:35:44,240 --> 00:35:47,160
like how convenient bro, what a 
coincidence. 

604
00:35:47,160 --> 00:35:52,360
Oh my God, right. 
I, I think, I think guys like I,

605
00:35:52,360 --> 00:35:57,880
I think people forget what's at 
stake here and like we're really

606
00:35:57,880 --> 00:36:00,640
playing for all the marbles 
here, ladies and gentlemen. 

607
00:36:00,640 --> 00:36:03,440
Like this is about control over 
the money. 

608
00:36:03,440 --> 00:36:05,560
You control money, you control 
the world. 

609
00:36:05,760 --> 00:36:10,000
Like this rabbit hole is deep. 
Like, I mean, the world wars, 

610
00:36:10,000 --> 00:36:12,880
the, the, the, is it over, boys?
No, I don't think so. 

611
00:36:13,240 --> 00:36:16,280
And if it is, if it is like if 
it is, I'm gonna stick to. 

612
00:36:16,280 --> 00:36:18,320
Hey, if it is, at least we tried
right if it. 

613
00:36:18,880 --> 00:36:20,360
Is like, it's not over. 
It's not over. 

614
00:36:20,360 --> 00:36:23,440
I'm gonna, I'm gonna stick with 
it through the very end, like 

615
00:36:23,760 --> 00:36:26,680
I'm gonna stick with this thing.
I, I truly believe in Bitcoin. 

616
00:36:26,680 --> 00:36:28,920
I truly believe in the 
properties of Bitcoin. 

617
00:36:29,240 --> 00:36:32,320
But like once we start getting 
to the final levels and make no 

618
00:36:32,320 --> 00:36:36,760
mistake, we are in the final 
levels like we are, we are very 

619
00:36:36,760 --> 00:36:40,200
close to, you know, winning this
game. 

620
00:36:42,080 --> 00:36:44,040
I think they're going to pull 
out all the stops. 

621
00:36:44,040 --> 00:36:48,080
And this could totally be one of
the things that they're doing to

622
00:36:48,080 --> 00:36:50,720
shake your confidence in this 
thing, right? 

623
00:36:50,720 --> 00:36:52,680
Because ultimately, that's what 
it's about. 

624
00:36:52,680 --> 00:36:55,240
Like this is about shaking your 
confidence. 

625
00:36:55,520 --> 00:36:59,400
And I think this bear market's 
going to be especially brutal 

626
00:36:59,640 --> 00:37:05,640
because even in the 2018 and 
2019 bear markets, we still knew

627
00:37:05,640 --> 00:37:07,360
that Bitcoin was going to 
recover. 

628
00:37:07,640 --> 00:37:13,160
Like we knew that Bitcoin was 
going to RIP eventually this 

629
00:37:13,160 --> 00:37:17,040
bear market. 
People are questioning like we 

630
00:37:17,040 --> 00:37:20,640
had, I don't want to mention, I 
don't want to mention who he is,

631
00:37:20,640 --> 00:37:24,280
but like we had someone that 
even works for us was basically 

632
00:37:24,280 --> 00:37:27,640
like, man, there's, there's 
things over the next 10 years 

633
00:37:27,640 --> 00:37:31,080
that could potentially 
outperform Bitcoin, right? 

634
00:37:32,200 --> 00:37:35,280
You know, like even even like, 
you know, kind of internally 

635
00:37:35,280 --> 00:37:39,120
like we're, we're starting to 
see that doubt and and and. 

636
00:37:39,720 --> 00:37:41,960
Bottom signals. 
I was saying bottom signals that

637
00:37:42,000 --> 00:37:42,840
doubt. 
Creep in. 

638
00:37:43,120 --> 00:37:47,480
So, you know, like I, I would 
say, listen, guys, hold strong. 

639
00:37:47,480 --> 00:37:50,320
Remember the remember the 
conviction that you have 

640
00:37:50,600 --> 00:37:55,040
remember why you are here. 
I, I think we're going to win. 

641
00:37:55,440 --> 00:37:57,680
I think Bitcoin has the best 
characteristics. 

642
00:37:57,680 --> 00:38:01,320
It's, it's backed by, you know, 
the largest decentralized node 

643
00:38:01,320 --> 00:38:04,040
network in the world. 
It's backed by the largest 

644
00:38:04,040 --> 00:38:07,160
decentralized computing network 
in the world that's actively 

645
00:38:07,360 --> 00:38:15,000
mining it on a 24/7 basis. 
And again, nothing has absolute 

646
00:38:15,000 --> 00:38:17,920
scarcity the way that Bitcoin 
has absolute scarcity. 

647
00:38:18,400 --> 00:38:22,600
You can, you know, store it on a
12 word, 24 word seed phrase. 

648
00:38:22,800 --> 00:38:26,320
It's incredibly easy to store. 
You know, all the, all the 

649
00:38:26,320 --> 00:38:31,480
arguments are there. 
So I think it's just a matter of

650
00:38:31,880 --> 00:38:35,320
the huddle, the huddle. 
Baby, are you, are you huddling?

651
00:38:35,360 --> 00:38:37,000
I'm huddling. 
Are you huddling? 

652
00:38:37,160 --> 00:38:39,760
Are you huddling? 
Let us know in the chat if 

653
00:38:39,760 --> 00:38:44,520
you're huddling or, or you, you 
got shaken out of your bags. 

654
00:38:44,520 --> 00:38:47,560
Like some of these companies are
being shaken out of their bags. 

655
00:38:47,560 --> 00:38:49,600
Right. 
Anyway, seems like the Rumble 

656
00:38:49,600 --> 00:38:53,120
chat is, is popping off. 
Shout out to all of you guys on 

657
00:38:53,120 --> 00:38:56,240
Rumble. 
Someone actually gave me nice 

658
00:38:56,240 --> 00:38:58,680
thing Nico right on on the nail 
head. 

659
00:38:58,880 --> 00:39:01,360
Love it. 
Nico the violin player on the 

660
00:39:01,360 --> 00:39:02,800
Titanic. 
That's hilarious. 

661
00:39:05,240 --> 00:39:09,840
You go Nico Nico's Bitcoin being
controlled potentially could be 

662
00:39:09,840 --> 00:39:11,880
being controlled. 
I don't know That's a that's a 

663
00:39:11,880 --> 00:39:16,960
good question, my friend. 
But anyhoo guys, it's going to 

664
00:39:17,040 --> 00:39:20,600
be a great show. 
Someone said I sold at 115. 

665
00:39:22,360 --> 00:39:26,920
Smart move bro. 
Hindsight's 2020 Love you Nico. 

666
00:39:26,920 --> 00:39:29,080
Hang in there. 
It's going to be OK someday 

667
00:39:29,080 --> 00:39:31,560
maybe. 
Anyways, guys, it's going to be 

668
00:39:31,560 --> 00:39:33,400
a great show. 
Nico's a fan of Sailor? 

669
00:39:33,400 --> 00:39:34,600
Since when? 
I've always been a fan of 

670
00:39:34,600 --> 00:39:36,720
Sailor. 
I just think that, you know, he,

671
00:39:36,720 --> 00:39:39,560
he has, you know, he's running a
public company and he wants his 

672
00:39:39,560 --> 00:39:42,040
stock to go up. 
But at the end of the day, you 

673
00:39:42,040 --> 00:39:45,040
know, I'm, I'm also a fan of 
Coinbase cause Coinbase has been

674
00:39:45,200 --> 00:39:50,560
one of the biggest lobby lobby. 
They, they've sunk in a ton of 

675
00:39:50,560 --> 00:39:54,560
money into lobbying pro Bitcoin 
policies in Washington, DC. 

676
00:39:54,720 --> 00:39:57,920
So you don't need to have, you 
don't need to be completely 

677
00:39:57,920 --> 00:40:03,520
aligned with a lot of these 
entities to, to, to be fans of 

678
00:40:03,520 --> 00:40:05,120
them. 
There's, there's things that I 

679
00:40:05,120 --> 00:40:08,920
dislike that, that, you know, 
the traditional, how traditional

680
00:40:08,920 --> 00:40:11,600
finance treats Bitcoin. 
There's things that I dislike 

681
00:40:11,880 --> 00:40:14,040
about the altcoin casino 
industry. 

682
00:40:14,760 --> 00:40:17,160
But there's things that I like 
about traditional finance and 

683
00:40:17,160 --> 00:40:19,560
there's things that I like about
Coinbase. 

684
00:40:20,440 --> 00:40:22,360
Anyways, guys, it's going to be 
a great show. 

685
00:40:22,360 --> 00:40:25,240
We have tons to cover today. 
I want to let you know I, I 

686
00:40:25,240 --> 00:40:27,640
want, I want to hear your guys 
thoughts about my theory. 

687
00:40:27,880 --> 00:40:30,040
We're going to talk about more 
about it during the culture 

688
00:40:30,040 --> 00:40:33,640
segment with Opti and it's going
to be a great show. 

689
00:40:33,640 --> 00:40:35,480
I got some videos, got lot lined
up. 

690
00:40:35,720 --> 00:40:38,800
Larry Leopard, he's got some 
bull juice for you guys. 

691
00:40:39,040 --> 00:40:41,560
And then we got a critique of 
Bitcoin. 

692
00:40:41,800 --> 00:40:44,520
And the critique of Bitcoin is 
coming from actually someone 

693
00:40:44,720 --> 00:40:49,800
who's a famous movie star and 
they come from a huge YouTube 

694
00:40:49,800 --> 00:40:51,480
channel. 
And the reason I want to play 

695
00:40:51,480 --> 00:40:53,760
you guys this critique is 
because the midterms are coming 

696
00:40:53,760 --> 00:40:56,480
up. 
And I think that a lot of a lot 

697
00:40:56,480 --> 00:41:01,840
of people have forgotten that, 
you know, that, that we were in 

698
00:41:01,840 --> 00:41:09,320
a hostile political environment 
almost two years ago with the 

699
00:41:09,320 --> 00:41:12,520
previous administration. 
And I, I, I want to remind all 

700
00:41:12,520 --> 00:41:17,320
of you guys that the members of 
that political party have not 

701
00:41:17,320 --> 00:41:21,320
changed their stance. 
In fact, the Clarity Act right 

702
00:41:21,320 --> 00:41:25,000
now has a 43 percent chance of 
passing. 

703
00:41:25,680 --> 00:41:28,320
I also called that. 
Got to take credit for that as 

704
00:41:28,320 --> 00:41:31,160
well. 
So yeah, guys, it's going to be 

705
00:41:31,160 --> 00:41:33,000
a great show. 
Also, we got Bram. 

706
00:41:33,360 --> 00:41:35,040
We got Bram joining us on the 
show. 

707
00:41:35,040 --> 00:41:36,320
We're going to let him up on the
show. 

708
00:41:36,320 --> 00:41:37,920
We're going to let him up in a 
little bit. 

709
00:41:38,240 --> 00:41:39,520
So guys, it's going to be a 
great show. 

710
00:41:39,520 --> 00:41:41,080
One or two. 
You guys want to. 

711
00:41:41,840 --> 00:41:45,000
What's wrong with me? 
Dude just hit the ad. 

712
00:41:45,240 --> 00:41:47,440
You guys are going to want to 
stay tuned in, smash that like 

713
00:41:47,440 --> 00:41:50,280
button and consider subscribing 
and we're going to be right back

714
00:41:50,280 --> 00:41:54,680
in just a little bit. 
Today's episode is brought to 

715
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you by Bitcoin Well Infinite. 
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731
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733
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736
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748
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749
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751
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Alright everybody, we got Bram 
joining us in the house today. 

752
00:44:07,040 --> 00:44:09,680
Guys, go to stampse-ed.com 
today. 

753
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754
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anything on the store. 
Bram, thank you so much for 

755
00:44:16,600 --> 00:44:18,080
joining us. 
At the time of recording the 

756
00:44:18,080 --> 00:44:25,160
Bitcoin price is 64,797 seven 60
sixty $4970. 

757
00:44:25,160 --> 00:44:26,320
I don't know what was wrong with
me today. 

758
00:44:26,600 --> 00:44:32,760
Sats per dollar 1539 block 
height 938,005 Realized monetary

759
00:44:32,760 --> 00:44:36,880
inflation .84% market cap 1.3 
trillion Bitcoin versus gold 

760
00:44:36,880 --> 00:44:40,480
market cap 4.34% percentage. 
Just remember when we celebrate 

761
00:44:40,480 --> 00:44:44,000
it got to 10% gold. 
Just took us to school, bro. 

762
00:44:44,960 --> 00:44:48,560
Percentage issued 95.2% decline 
from all time high. 

763
00:44:48,560 --> 00:44:51,520
If you're buying Bitcoin right 
now, you're getting it at a 50% 

764
00:44:51,520 --> 00:44:55,440
discount. 50% discount. 
That's a pretty good discount. 

765
00:44:55,920 --> 00:44:59,040
Anyways, before I get Bram's 
thoughts, I have this clip of 

766
00:44:59,040 --> 00:45:01,720
Larry Leppard. 
Larry Leppard had some thoughts 

767
00:45:02,080 --> 00:45:06,560
regarding where Bitcoin could go
on its next wave, what those 

768
00:45:06,560 --> 00:45:09,480
price targets could be. 
Let's check out the clip and 

769
00:45:09,480 --> 00:45:13,040
then we'll talk about it. 
Few people understand is how 

770
00:45:13,440 --> 00:45:16,760
when this thing does hit, when 
this next wave does hit, it's 

771
00:45:16,760 --> 00:45:21,360
not going to 140, guys. 
It's going to 250 or 300 or 350.

772
00:45:21,840 --> 00:45:24,920
I mean, because there will be so
much, you know, there'll be two 

773
00:45:24,920 --> 00:45:26,520
things happening. 
There'll be all the shorts who 

774
00:45:26,520 --> 00:45:29,040
have to cover or else they're 
going to get the faces ripped 

775
00:45:29,040 --> 00:45:30,600
off. 
And then it'll be a whole new 

776
00:45:30,600 --> 00:45:33,200
category of long D Jens will 
come in and he'll lever it and 

777
00:45:33,200 --> 00:45:34,400
go along it. 
Right. 

778
00:45:34,880 --> 00:45:37,360
And that's that's what will 
shove it to 400 and then from 

779
00:45:37,360 --> 00:45:39,520
400 by the way, it'll correct 
back to 150. 

780
00:45:40,120 --> 00:45:43,840
But I mean, it's, it's the 
nature of a speculative, you 

781
00:45:43,840 --> 00:45:46,440
know, asset that's being 
adopted. 

782
00:45:46,600 --> 00:45:49,760
You know, this is, and if you go
look at a very long term price 

783
00:45:49,760 --> 00:45:52,640
turn of Amazon, which is a 
similar network based business, 

784
00:45:53,160 --> 00:45:56,600
it had multiple, you know, one 
had 190% correction, had 

785
00:45:56,600 --> 00:45:59,840
multiple 6070 out of 4050% 
corrections. 

786
00:45:59,840 --> 00:46:01,480
I mean, either it's going to 
take over the world or it's 

787
00:46:01,480 --> 00:46:03,920
going to die. 
And right now bitcoins in the, 

788
00:46:03,960 --> 00:46:06,600
you know, right now we're kind 
of hearing it's not. 

789
00:46:06,640 --> 00:46:08,760
I mean, I just saw a tweet this 
morning from a gold guy. 

790
00:46:09,080 --> 00:46:11,240
Well, not really looking like 
digital gold, is it? 

791
00:46:11,760 --> 00:46:16,120
And I was just calling you wait,
OK, You know, just just wait, 

792
00:46:16,240 --> 00:46:19,000
you just you just relax. 
You know, it's it's not a 

793
00:46:19,000 --> 00:46:22,480
straight line, but you know, I 
I'll take the other side of that

794
00:46:22,480 --> 00:46:24,520
bat in two years. 
We'll see who looks right. 

795
00:46:24,520 --> 00:46:29,640
So all right, everybody, we got 
Bram in the house host of the 

796
00:46:29,640 --> 00:46:33,200
Bitcoin for millennials podcast.
Bram, welcome to the show. 

797
00:46:33,200 --> 00:46:36,360
I want to get your thoughts. 
Is Larry Leopard being overly 

798
00:46:36,360 --> 00:46:38,520
bullish, overly optimistic, 
Bram? 

799
00:46:39,760 --> 00:46:41,320
I see. 
Yeah, Thanks guys. 

800
00:46:41,320 --> 00:46:43,480
I'm happy to be here. 
I see a comment on the screams 

801
00:46:43,640 --> 00:46:46,440
screen saying this. 
This is hopium. 

802
00:46:47,600 --> 00:46:51,560
I, I think for the people that 
have been in Bitcoin for a 

803
00:46:51,560 --> 00:46:54,280
longer time, this, this ain't 
nothing new, right? 

804
00:46:54,280 --> 00:46:59,280
I think the, the bearish people,
the people with all the anti 

805
00:46:59,320 --> 00:47:04,120
Bitcoin takes coming out of the 
woodwork when you know, the, 

806
00:47:04,880 --> 00:47:09,360
the, the price goes down. 
These are all people that have a

807
00:47:09,360 --> 00:47:11,160
high time preference in their 
life. 

808
00:47:11,160 --> 00:47:13,960
They think everything goes up in
a straight line. 

809
00:47:14,200 --> 00:47:17,560
They think because they didn't 
study, but they hear us talk 

810
00:47:17,560 --> 00:47:22,360
about Bitcoin, you know, that 
that we are moon math boys or or

811
00:47:22,360 --> 00:47:24,600
whatever. 
But I think the deeper 

812
00:47:24,600 --> 00:47:28,320
understanding here and that is 
what Larry was also alluding to,

813
00:47:28,320 --> 00:47:31,320
right? 
This is the monetization of a 

814
00:47:31,320 --> 00:47:36,480
totally new asset, monetary 
asset, but also an asset of 

815
00:47:36,480 --> 00:47:41,600
which its characteristics have 
never existed before. 

816
00:47:41,840 --> 00:47:45,560
So I've always said, you know, 
price is a proxy of 

817
00:47:45,560 --> 00:47:50,560
understanding of a certain 
amount of, of people of Bitcoin.

818
00:47:50,560 --> 00:47:52,680
And I think that is what we're 
seeing. 

819
00:47:52,680 --> 00:47:56,080
I think you guys probably also 
talk about manipulation and 

820
00:47:56,080 --> 00:47:59,160
whatnot. 
I, I, I, I think manipulation is

821
00:47:59,160 --> 00:48:01,080
done by people that actually 
understand it. 

822
00:48:01,760 --> 00:48:04,080
But in general, all the people 
that they're coming out of the 

823
00:48:04,080 --> 00:48:08,640
woodwork with all their, their 
anti takes, you know, I think 

824
00:48:08,640 --> 00:48:11,640
it's a joke by now. 
It's intellectually lazy to 

825
00:48:11,640 --> 00:48:15,640
never question what is money, to
never dive into Bitcoin and then

826
00:48:15,640 --> 00:48:19,240
the price goes down. 
You, you think you are dancing 

827
00:48:19,240 --> 00:48:21,640
on someone else's grave 
basically. 

828
00:48:21,640 --> 00:48:26,200
But I, I posted this today, you 
know, if Bitcoin goes down 30%, 

829
00:48:26,240 --> 00:48:29,400
all the people that understand 
it are happy. 

830
00:48:30,000 --> 00:48:32,600
They're happy. 
They know that they have the 

831
00:48:32,600 --> 00:48:34,440
possibility to buy it at lower 
prices. 

832
00:48:34,840 --> 00:48:41,600
If the S&P 500 goes down with, I
don't know, 7%, you know, Tratfi

833
00:48:41,600 --> 00:48:44,880
is in meltdown. 
The, you know, mainstream media 

834
00:48:44,880 --> 00:48:47,560
is in meltdown, like, Oh my God,
what is happening, etcetera. 

835
00:48:47,560 --> 00:48:52,200
And I think fundamental 
understanding of Bitcoin is the 

836
00:48:52,200 --> 00:48:57,280
most important task you have. 
If you are insecure about your 

837
00:48:57,280 --> 00:49:01,240
future, if you don't want a 
CBDC, if you don't want other 

838
00:49:01,240 --> 00:49:04,760
people to control the value of 
your time and energy, so you 

839
00:49:04,760 --> 00:49:06,960
need to do the work. 
Literally the understanding. 

840
00:49:06,960 --> 00:49:08,320
Proof of work takes proof of 
work. 

841
00:49:08,320 --> 00:49:10,720
So I don't think Larry's 
bullish. 

842
00:49:10,960 --> 00:49:14,160
I just think we are extremely 
early. 

843
00:49:14,160 --> 00:49:18,720
We have a lot of foresight and 
that sounds like amazing cope, 

844
00:49:18,760 --> 00:49:20,320
but I still think the world is 
crazy. 

845
00:49:21,080 --> 00:49:22,840
So let's talk about that, right?
I guess I. 

846
00:49:23,280 --> 00:49:26,440
Keep like that. 
Yeah, that was I love amazing 

847
00:49:26,440 --> 00:49:28,440
cope. 
So we keep we, we keep hearing 

848
00:49:28,440 --> 00:49:32,360
that right, which is we're, 
we're extremely early to Bitcoin

849
00:49:32,360 --> 00:49:34,440
Opti, I want to get your 
thoughts on that. 

850
00:49:34,760 --> 00:49:36,320
Do you think we're still early 
to Bitcoin? 

851
00:49:36,680 --> 00:49:39,560
I honestly do. 
I know I get yelled at 

852
00:49:39,560 --> 00:49:42,320
constantly when I say this. 
Everyone's like how we early to 

853
00:49:42,320 --> 00:49:45,400
Bitcoin. 
Bitcoin's at 100K and I, I just 

854
00:49:45,400 --> 00:49:47,680
use this simple, this simple 
heuristic. 

855
00:49:47,680 --> 00:49:49,240
It's like go talk to average 
people. 

856
00:49:49,240 --> 00:49:51,960
They either think you're an 
idiot still or they think 

857
00:49:51,960 --> 00:49:55,840
Bitcoin is a dumb idea. 
And we've gotten this far to 

858
00:49:56,120 --> 00:50:00,400
100K and like you talk to normal
people, most people don't hold 

859
00:50:00,400 --> 00:50:03,560
Bitcoin. 
But I mean, OK, but hold on. 

860
00:50:04,440 --> 00:50:07,960
OK, Yeah, hold on a second. 
I agree. 

861
00:50:07,960 --> 00:50:09,680
Central banks don't even know 
what they are buying. 

862
00:50:09,720 --> 00:50:11,600
Bitcoin, guys. 
All right, sorry. 

863
00:50:11,600 --> 00:50:12,960
You're better buying gold. 
Why they're buying? 

864
00:50:13,040 --> 00:50:17,040
Gold, I I, I agree in terms of 
the overall grand scheme of 

865
00:50:17,040 --> 00:50:19,480
things that we're early to 
Bitcoin in that. 

866
00:50:19,560 --> 00:50:22,760
Bro .02% of world capitals in 
Bitcoin. 

867
00:50:22,760 --> 00:50:24,000
You're telling me we're not 
early? 

868
00:50:24,480 --> 00:50:28,520
I don't know man, I don't. 
It depends on your definition of

869
00:50:28,520 --> 00:50:30,680
early. 
That's what I'm saying though. 

870
00:50:31,080 --> 00:50:32,560
Depends on your definition of 
early. 

871
00:50:32,560 --> 00:50:34,600
I would say depends on your. 
Definition, dude. 

872
00:50:34,600 --> 00:50:36,320
Niko. 
Niko's such a bear. 

873
00:50:36,560 --> 00:50:39,240
I, I, dude, I I have to, I have 
to. 

874
00:50:39,240 --> 00:50:42,960
Level it out here 'cause if you 
and Walker had your way, bro, on

875
00:50:42,960 --> 00:50:46,720
the October show, bro, we got to
be bull tarted always. 

876
00:50:46,720 --> 00:50:49,880
I don't care if I'm wrong, I'm 
going to be right, you know? 

877
00:50:49,880 --> 00:50:52,160
I may not be right right now, 
but I am right. 

878
00:50:52,160 --> 00:50:56,640
The bottom is marked when opti, 
when opti starts crying and and 

879
00:50:56,640 --> 00:50:57,800
capitulates. 
Not going to happen. 

880
00:50:59,560 --> 00:51:02,960
It's optimist for a reason bro. 
Even if you tell me it's going 

881
00:51:02,960 --> 00:51:07,800
to zero, I'm like, Nah, there's 
still a chance. 5000. 

882
00:51:07,800 --> 00:51:10,920
Dollar Bitcoin dude $5000 
Bitcoin. 

883
00:51:10,920 --> 00:51:12,800
You know how many coins I'll be 
able to buy like? 

884
00:51:13,520 --> 00:51:15,440
I'll be all dialysis for life 
guys. 

885
00:51:18,320 --> 00:51:20,560
Oh, man, all right, everybody, 
it's going to be a great show. 

886
00:51:20,560 --> 00:51:23,360
We're going to talk about Bram 
later on during the culture 

887
00:51:23,360 --> 00:51:25,240
segment. 
Also during the news segment, I 

888
00:51:25,240 --> 00:51:27,560
got an interesting video for you
guys. 

889
00:51:27,560 --> 00:51:31,920
I told you guys the midterms are
coming up in November. 

890
00:51:32,160 --> 00:51:35,560
And what a lot of people forget 
this always happens by the way 

891
00:51:35,560 --> 00:51:41,040
in in American politics is 
people forget that the previous 

892
00:51:41,040 --> 00:51:45,480
political party that was in 
power before the Republicans had

893
00:51:45,480 --> 00:51:49,840
a complete sweep still has an 
anti Bitcoin stance. 

894
00:51:50,120 --> 00:51:54,880
And one of their one of one of 
the most popular YouTube 

895
00:51:54,880 --> 00:51:59,360
channels that is pro this 
political party continues to 

896
00:51:59,360 --> 00:52:05,640
make very high production videos
criticizing the Bitcoin and 

897
00:52:05,640 --> 00:52:09,080
crypto industry as a whole. 
And again, you have to pay 

898
00:52:09,080 --> 00:52:11,920
attention to these things 
because when the political 

899
00:52:11,920 --> 00:52:16,360
pendulum inevitably swings back,
and it could swing back because 

900
00:52:16,360 --> 00:52:19,200
a lot of people are not very 
happy with the Trump 

901
00:52:19,200 --> 00:52:23,360
administration, don't be 
surprised if once again you have

902
00:52:23,360 --> 00:52:28,000
Elizabeth Warren coming in and 
you have operation choke point 

903
00:52:28,240 --> 00:52:32,400
choke .3 point O begin and then 
you get caught. 

904
00:52:32,640 --> 00:52:35,160
You get caught by a surprise. 
Don't be surprised if that 

905
00:52:35,160 --> 00:52:38,960
happens, right? 
Because fundamentally the core 

906
00:52:38,960 --> 00:52:42,800
of this political party has not 
changed their perspective on 

907
00:52:42,800 --> 00:52:46,360
Bitcoin. 
My thesis, my belief is I think 

908
00:52:46,360 --> 00:52:50,320
they're 100% bought into the 
ideas of central bank digital 

909
00:52:50,320 --> 00:52:53,440
currency currencies, very 
similar to how the European 

910
00:52:53,440 --> 00:52:56,920
Union is doing. 
The European Union is hell bent 

911
00:52:57,080 --> 00:53:00,760
on rolling out a central bank 
digital currency. 

912
00:53:00,760 --> 00:53:03,720
They call it the digital euro. 
I don't really think that they 

913
00:53:03,720 --> 00:53:08,520
give a flying F about, you know,
what the masses believe. 

914
00:53:08,760 --> 00:53:11,400
I think that they're just hell 
bent on rolling out the digital 

915
00:53:11,400 --> 00:53:15,400
euro because it's a continuation
of the Fiat system, whereas Jeff

916
00:53:15,400 --> 00:53:18,520
Booth likes to call it the 
system of theft, right? 

917
00:53:18,640 --> 00:53:21,160
I think they're hell bent on 
continuing that system. 

918
00:53:21,360 --> 00:53:25,800
And I think they're doing that 
via digital digital via CBDC, 

919
00:53:25,800 --> 00:53:28,120
specifically the digital euro in
in Europe. 

920
00:53:28,440 --> 00:53:32,480
And you guys have to remember 
there's a major political party 

921
00:53:32,480 --> 00:53:35,720
in the United States that has 
the same philosophy. 

922
00:53:35,880 --> 00:53:39,680
And just because Trump won and 
just because he signed a couple 

923
00:53:39,680 --> 00:53:44,160
of executive orders, the only 
actual pro crypto piece of 

924
00:53:44,160 --> 00:53:47,360
legislation, not talking about 
the Genius Act, which was 

925
00:53:47,360 --> 00:53:51,920
focused on stable coins, the 
only pro Bitcoin piece of 

926
00:53:51,920 --> 00:53:54,520
legislation that has a lot of 
crypto stuff in it as well. 

927
00:53:54,680 --> 00:53:59,880
The Clarity Act went down from 
80% a couple days ago. 

928
00:54:00,000 --> 00:54:04,320
Now it's down to 36% that it 
could pass. 

929
00:54:04,320 --> 00:54:07,080
I mean, it went up a little bit.
Now it's at 52%. 

930
00:54:07,440 --> 00:54:09,800
And again, there's a March 1st 
deadline. 

931
00:54:09,800 --> 00:54:13,880
So if this doesn't get passed by
March 1st, the probability that 

932
00:54:13,880 --> 00:54:17,880
this thing will get passed at 
all, it's going to, the 

933
00:54:17,880 --> 00:54:20,840
probability is going to continue
to head down to 0, right? 

934
00:54:20,840 --> 00:54:24,080
Which is something else that I 
called last year, by the way. 

935
00:54:24,880 --> 00:54:27,000
So anyways, we have an update 
for you guys there. 

936
00:54:27,160 --> 00:54:29,800
And then we're going to talk to 
Bram about the Bitcoin for 

937
00:54:29,960 --> 00:54:32,880
Millennials podcast, what he's 
working on, what he wants to 

938
00:54:32,880 --> 00:54:34,240
talk about. 
So it's going to be an 

939
00:54:34,240 --> 00:54:35,800
incredible show. 
You guys are going to want to 

940
00:54:35,800 --> 00:54:38,080
stay tuned in. 
We're going to be right back 

941
00:54:38,080 --> 00:54:41,800
after the commercial break. 
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942
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964
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968
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Complex setups, clumsy 
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975
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984
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All right, everybody, we are 
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985
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991
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994
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995
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for $99. 
All right, everybody, let's get 

998
00:58:05,280 --> 00:58:08,760
into the bulk of today's news 
story and I want to take 

999
00:58:08,760 --> 00:58:12,480
advantage of the fact that we 
have our frem, our friend, our 

1000
00:58:12,480 --> 00:58:16,200
fellow content creator, fellow 
Bitcoin content creator joining 

1001
00:58:16,200 --> 00:58:19,720
us as a guest today. 
We got Bram in the house. 

1002
00:58:19,920 --> 00:58:22,200
All right, everybody, let's 
check out today's news story. 

1003
00:58:22,400 --> 00:58:26,560
So the clarity act, this is not 
good, ladies and gentlemen, but 

1004
00:58:26,560 --> 00:58:28,880
I predicted it. 
I'm calling it, I'm taking 

1005
00:58:28,880 --> 00:58:31,360
credit for it. 
I told you guys this was going 

1006
00:58:31,360 --> 00:58:34,040
to happen in September of last 
year. 

1007
00:58:34,240 --> 00:58:38,680
The moment that I heard that Bo 
Hines resigned and he joined 

1008
00:58:38,680 --> 00:58:42,320
Tether, which is great news. 
Tether's a, a good company and 

1009
00:58:42,320 --> 00:58:46,520
then when I heard that Senator 
Cynthia Lummis was not running 

1010
00:58:46,520 --> 00:58:50,120
for re election, I told you guys
right then and there I'm like, 

1011
00:58:51,800 --> 00:58:55,440
guys, this, this Bitcoin 
legislation or pro Bitcoin 

1012
00:58:55,440 --> 00:58:58,240
legislation stuff is not looking
good at all. 

1013
00:58:59,160 --> 00:59:02,240
And you know, a lot, a lot of 
people gave me a lot of shit for

1014
00:59:02,240 --> 00:59:06,480
it, but I stuck by my guns and 
it looks like it's looks like 

1015
00:59:06,480 --> 00:59:10,320
it's not playing out so hot. 
So anyways, this is Matthew 

1016
00:59:10,360 --> 00:59:15,240
Siegel and he says clarity Act 
odds of passing fall sharply as 

1017
00:59:15,240 --> 00:59:19,840
March 1st deadline approaches 
with no meaningful movement on a

1018
00:59:19,960 --> 00:59:23,520
compromise. 
Coinbase is still moving full 

1019
00:59:23,520 --> 00:59:25,960
steam ahead. 
They they announced a couple 

1020
00:59:25,960 --> 00:59:27,800
days ago. 
We actually talked about it 

1021
00:59:27,800 --> 00:59:31,600
during the show and I said, 
listen, Coinbase is literally 

1022
00:59:31,600 --> 00:59:35,520
going out on Twitter and they're
still announcing their rewards 

1023
00:59:35,520 --> 00:59:37,800
program. 
And by the way, the, the main 

1024
00:59:37,800 --> 00:59:41,160
block of the Clarity Act is 2 
reasons. 

1025
00:59:41,440 --> 00:59:48,040
Reason #1 there's a big portion 
of the, of a certain political 

1026
00:59:48,040 --> 00:59:51,640
party in the United States that 
is still anti Bitcoin. 

1027
00:59:51,640 --> 00:59:55,800
It's not monolithic, but there's
a big portion of them that don't

1028
00:59:55,800 --> 00:59:58,320
support Bitcoin. 
And they're, they want a central

1029
00:59:58,320 --> 01:00:02,160
bank digital currency. 
That's thing number one thing #2

1030
01:00:02,320 --> 01:00:07,480
is that the big banks actually 
don't want Coinbase to be 

1031
01:00:07,480 --> 01:00:11,200
offering rewards on their 
stablecoin. 

1032
01:00:11,200 --> 01:00:14,480
And the reason for that is 
because these rewards would 

1033
01:00:14,480 --> 01:00:18,720
function as interest and. 
The big banks in the United 

1034
01:00:18,720 --> 01:00:22,800
States aren't offering interest 
at all to any of their 

1035
01:00:22,800 --> 01:00:25,960
depositors. 
So if you deposit money in a 

1036
01:00:25,960 --> 01:00:29,320
bank in a big bank in the United
States, they do technically 

1037
01:00:29,320 --> 01:00:31,400
offer you interest, but it's 
comical. 

1038
01:00:31,400 --> 01:00:35,840
It's like .38% on top of the 
maintenance fee that they charge

1039
01:00:35,840 --> 01:00:38,000
you for holding money in that 
bank. 

1040
01:00:38,400 --> 01:00:42,240
Simultaneously while all this is
happening, the bank is making 

1041
01:00:42,240 --> 01:00:44,640
money off of your money because 
they're going out and they're 

1042
01:00:44,640 --> 01:00:47,720
lending that money. 
What the stablecoin issues are, 

1043
01:00:47,720 --> 01:00:51,240
are are are realizing 
specifically Coinbase with USDC 

1044
01:00:51,760 --> 01:00:54,800
is that they're saying, hey, 
listen, we'll offer you, we'll 

1045
01:00:54,800 --> 01:00:57,400
offer you rewards and not using 
the word interest on purpose, 

1046
01:00:57,560 --> 01:01:00,680
we'll offer you rewards if you 
hold USDC. 

1047
01:01:01,240 --> 01:01:04,760
So if you hold USDC on Coinbase,
if you put, you know, let's say 

1048
01:01:04,760 --> 01:01:09,200
$100,000 of USDC and you put it 
on Coinbase, they're offering 

1049
01:01:09,200 --> 01:01:13,760
you 3 and a half, 3 1/2 percent 
in Bitcoin rewards. 

1050
01:01:13,880 --> 01:01:18,080
So they're literally paying you 
for you holding dollars or the 

1051
01:01:18,080 --> 01:01:20,920
equivalent of dollars in a coin 
base account. 

1052
01:01:21,000 --> 01:01:23,800
They're paying you for that. 
And if you look at exchanges, 

1053
01:01:23,800 --> 01:01:27,320
like for example, River 
Financial, they're offered, I 

1054
01:01:27,320 --> 01:01:31,840
think they're also offering you 
interest in Bitcoin. 

1055
01:01:31,840 --> 01:01:35,120
So if you hold over a certain 
dollar, no, a dollar amount or 

1056
01:01:35,120 --> 01:01:38,920
whatever, you hold dollars on 
the River Financial platform, 

1057
01:01:39,160 --> 01:01:42,800
they're giving you that 3 1/2%. 
And this is threatening to banks

1058
01:01:42,800 --> 01:01:45,000
because there's a whole new 
generation. 

1059
01:01:45,080 --> 01:01:48,440
I know some of these people that
don't even have bank accounts, 

1060
01:01:48,600 --> 01:01:53,160
they use Cash App as their de 
facto bank account, right? 

1061
01:01:53,480 --> 01:01:56,680
So this is threatening to banks.
Banks don't want to compete. 

1062
01:01:56,800 --> 01:01:59,040
So they're using, they're trying
to use the heavy hand of 

1063
01:01:59,040 --> 01:02:02,440
government to stifle out 
competition, which again, I 

1064
01:02:02,440 --> 01:02:04,800
think is not extremely non 
competitive. 

1065
01:02:05,000 --> 01:02:08,360
But this is the reason there's a
primary reason as to why the 

1066
01:02:08,360 --> 01:02:12,080
Clarity Act hasn't been signed. 
Coinbase is like, listen, the 

1067
01:02:12,080 --> 01:02:14,720
status quo is better than the 
law. 

1068
01:02:14,720 --> 01:02:17,680
The legislation that you want to
pass, because the legislation 

1069
01:02:17,680 --> 01:02:19,840
that you want to pass is 
actually going to stifle 

1070
01:02:19,840 --> 01:02:23,240
competition, is actually not 
going to allow us to do that. 

1071
01:02:23,360 --> 01:02:25,760
And how does that protect the 
American consumer? 

1072
01:02:25,960 --> 01:02:28,040
I don't know. 
I think it protects the American

1073
01:02:28,040 --> 01:02:30,840
banks, that's for sure. 
So anyways, I want to cover the 

1074
01:02:30,840 --> 01:02:35,120
other side of this, which is 
again, there's the you guys have

1075
01:02:35,120 --> 01:02:37,680
to remember this. 
And, and unfortunately, when we 

1076
01:02:37,680 --> 01:02:44,200
started talking about politics, 
initially, you guys didn't react

1077
01:02:44,200 --> 01:02:46,880
very well to this, but we kind 
of stuck to our guns. 

1078
01:02:47,160 --> 01:02:49,520
I remember I was one of the 
first people on Twitter and I 

1079
01:02:49,520 --> 01:02:53,040
had this tweet saved in my 
drafts for the longest time. 

1080
01:02:53,320 --> 01:02:56,760
And it basically said something 
along the lines of it's probably

1081
01:02:56,760 --> 01:03:00,840
not a good idea that the Biden 
administration wins another term

1082
01:03:00,960 --> 01:03:03,840
for the Bitcoin industry. 
And the reason I had it saved in

1083
01:03:03,840 --> 01:03:06,600
drafts for the longest time is 
because the Overton window 

1084
01:03:06,800 --> 01:03:10,880
didn't shift sufficiently enough
for me to send out that tweet. 

1085
01:03:11,080 --> 01:03:14,480
It was only until the Samurai 
wallet developers got arrested, 

1086
01:03:14,640 --> 01:03:19,960
It was only until the continuous
attacks on Bitcoin self custody,

1087
01:03:19,960 --> 01:03:22,920
the continuous attacks on the 
Bitcoin mining industry that I 

1088
01:03:22,920 --> 01:03:26,880
felt like it was so incredibly 
obvious that the Biden 

1089
01:03:26,880 --> 01:03:30,080
administration wouldn't be a 
positive towards the, towards 

1090
01:03:30,080 --> 01:03:33,880
the, the, the Bitcoin and crypto
industry as a whole, that I felt

1091
01:03:33,880 --> 01:03:37,840
like I could send out that post.
People have forgotten because 

1092
01:03:37,840 --> 01:03:41,520
it's been 2 years and the repubs
essentially control the house, 

1093
01:03:41,520 --> 01:03:44,560
they control the Senate and they
control the executive branch, 

1094
01:03:44,560 --> 01:03:48,560
the AKA the presidency. 
So people forgot like, oh, OK, 

1095
01:03:48,560 --> 01:03:49,720
you know what? 
We won. 

1096
01:03:49,720 --> 01:03:52,240
We, you know, we got a Bitcoin 
president in the White House, 

1097
01:03:53,120 --> 01:03:56,080
ladies and gentlemen, the 
midterms are literally in a 

1098
01:03:56,080 --> 01:04:00,200
couple of months and there's an 
80% probability that the 

1099
01:04:00,200 --> 01:04:04,360
Democrats, which again, the not 
the party as a whole, but a big 

1100
01:04:04,360 --> 01:04:06,960
portion of the party, the 
portion of the party that 

1101
01:04:06,960 --> 01:04:11,560
actually has influence and 
power, still do not like the 

1102
01:04:11,560 --> 01:04:17,840
Bitcoin slash crypto industry 
because for them, they only want

1103
01:04:18,960 --> 01:04:21,480
CBDC. 
That is their main priority. 

1104
01:04:21,520 --> 01:04:24,600
They want a central bank digital
currency. 

1105
01:04:24,880 --> 01:04:28,600
I want to play you guys this 
clip again of more perfect 

1106
01:04:28,600 --> 01:04:34,720
Union, which is a very pro, you 
know, pro Democrat type of 

1107
01:04:34,720 --> 01:04:39,400
channel to give you guys an idea
of what they're telling their 

1108
01:04:39,400 --> 01:04:42,280
audience and what the current 
narrative is, and then we'll 

1109
01:04:42,280 --> 01:04:43,720
talk about it. 
Let's check out the clip. 

1110
01:04:43,800 --> 01:04:46,680
Here we go. 
You may have noticed the cryptos

1111
01:04:46,680 --> 01:04:51,200
crashing again, like it did in 
2022 and 2018 and 2013. 

1112
01:04:51,560 --> 01:04:53,360
You get the picture. 
But there's something different 

1113
01:04:53,360 --> 01:04:55,040
about this crash that you need 
to know about. 

1114
01:04:55,040 --> 01:04:57,480
Crypto has always gone through 
boom bust cycles. 

1115
01:04:57,520 --> 01:05:00,240
But now, thanks to loosening 
regulations, people can buy 

1116
01:05:00,240 --> 01:05:02,680
financial products that give 
them exposure to Bitcoin and 

1117
01:05:02,680 --> 01:05:05,440
other cryptocurrencies through 
the regulated stock markets. 

1118
01:05:05,440 --> 01:05:09,240
They're called ETF's and over 
$100 billion worth of crypto was

1119
01:05:09,240 --> 01:05:12,720
bought by ETF's in the past two 
years as the size of the market 

1120
01:05:12,720 --> 01:05:15,120
seemed to only go up. 
But in October of last year, 

1121
01:05:15,440 --> 01:05:19,960
after Bitcoin briefly reached an
all time high price of $125,000,

1122
01:05:19,960 --> 01:05:22,720
investors began to take some 
risk off the table and sell 

1123
01:05:22,720 --> 01:05:24,880
their shares of these ETFs. 
The result? 

1124
01:05:24,880 --> 01:05:28,080
The price of Bitcoin and other 
cryptocurrencies has nose dived.

1125
01:05:28,200 --> 01:05:31,440
As of the time of recording this
video, Bitcoin is down nearly 

1126
01:05:31,440 --> 01:05:34,120
50% in just four months. 
So what happens now? 

1127
01:05:34,360 --> 01:05:37,040
Well, we'll see how much actual 
money is backing these 

1128
01:05:37,040 --> 01:05:39,240
cryptocurrencies. 
When people sell their shares of

1129
01:05:39,240 --> 01:05:42,120
the crypto ETFs, the Wall Street
firms that issue them, like 

1130
01:05:42,120 --> 01:05:45,080
BlackRock turn to the crypto 
exchanges like Coinbase to 

1131
01:05:45,080 --> 01:05:47,080
actually we sell the Bitcoin. 
But if there aren't enough 

1132
01:05:47,080 --> 01:05:48,720
buyers, then the price starts 
plunging. 

1133
01:05:48,920 --> 01:05:50,360
What's the floor? 
Well, zero. 

1134
01:05:50,440 --> 01:05:54,280
As I and many economists much 
fancier than me have argued, 

1135
01:05:54,360 --> 01:05:58,320
Bitcoin is an unusual investment
in that there is no product or 

1136
01:05:58,320 --> 01:06:00,920
service behind it and it 
produces no revenue stream. 

1137
01:06:01,040 --> 01:06:03,480
Essentially, when you're buying 
Bitcoin, you're buying bits of 

1138
01:06:03,480 --> 01:06:06,680
computer code uncorrelated with 
any real world asset. 

1139
01:06:06,920 --> 01:06:09,560
This is different from buying a 
share of stock in a company like

1140
01:06:10,000 --> 01:06:12,360
Google or Apple. 
Whatever you think of them, and 

1141
01:06:12,800 --> 01:06:15,480
trust me, I have thoughts. 
They are businesses that make 

1142
01:06:15,480 --> 01:06:18,240
products, provide services, and 
produce profits. 

1143
01:06:18,320 --> 01:06:20,440
And as a shareholder, you 
benefit from the company's 

1144
01:06:20,440 --> 01:06:23,440
success in the form of an 
appreciating stock price and or 

1145
01:06:23,440 --> 01:06:25,400
dividends. 
Cryptocurrencies have none of 

1146
01:06:25,400 --> 01:06:28,840
that because crypto doesn't do 
anything besides offer Bros 

1147
01:06:28,840 --> 01:06:31,720
something to gamble on and 
criminals a way to get paid for 

1148
01:06:31,720 --> 01:06:34,360
their crimes. 
In December 2022, I testified to

1149
01:06:34,360 --> 01:06:36,720
the Senate Banking and Finance 
Committee saying that the 

1150
01:06:36,720 --> 01:06:40,040
cryptocurrency industry 
represented the largest Ponzi 

1151
01:06:40,040 --> 01:06:42,120
scheme in history. 
Why was I testifying? 

1152
01:06:42,560 --> 01:06:46,080
Well, you might know me from TV,
but I actually have a degree in 

1153
01:06:46,080 --> 01:06:48,520
economics. 
Yes, that's right, Ben McKenzie 

1154
01:06:48,520 --> 01:06:50,960
is a secret econ dork. 
For the past four years, I've 

1155
01:06:50,960 --> 01:06:53,360
been investigating and 
documenting fraud in crypto. 

1156
01:06:53,560 --> 01:06:56,400
It's led to a book on the topic 
with Jacob Silverman, who's been

1157
01:06:56,400 --> 01:06:58,640
talking about this stuff with 
More Perfect Union for years 

1158
01:06:58,640 --> 01:07:00,600
now. 
And I'll be releasing a movie I 

1159
01:07:00,600 --> 01:07:02,360
directed in theaters this 
spring. 

1160
01:07:02,560 --> 01:07:06,640
Crypto is a Ponzi scheme. 
I stand by those words, and we 

1161
01:07:06,640 --> 01:07:08,440
may soon find out the 
ramifications. 

1162
01:07:08,600 --> 01:07:11,040
The problem with crypto being 
tied into our regulated 

1163
01:07:11,040 --> 01:07:13,600
financial markets is the 
contagion effect. 

1164
01:07:13,720 --> 01:07:17,040
If crypto were to continue to 
crash violently, the selling of 

1165
01:07:17,040 --> 01:07:20,800
these assets would push the 
prices of crypto companies down,

1166
01:07:20,840 --> 01:07:22,760
which can lead to the selling of
other companies. 

1167
01:07:22,840 --> 01:07:25,040
Play stupid games, win stupid 
prizes. 

1168
01:07:25,120 --> 01:07:27,200
Here's hoping that the crypto 
crash we're currently 

1169
01:07:27,200 --> 01:07:30,240
experiencing doesn't take the 
rest of the regulated financial 

1170
01:07:30,240 --> 01:07:32,400
markets down with it. 
Fingers crossed. 

1171
01:07:36,520 --> 01:07:39,960
So again, that's the general 
narrative, ladies and gentlemen,

1172
01:07:39,960 --> 01:07:43,960
right, which is This is why 
Elizabeth Warren fought so hard 

1173
01:07:43,960 --> 01:07:48,840
with Operation Choke .2 point O 
to try to keep traditional 

1174
01:07:48,840 --> 01:07:53,560
finance separate from the 
Bitcoin industry. 

1175
01:07:53,560 --> 01:07:56,920
The reason that the ETF, the 
reason that they gave such a 

1176
01:07:56,920 --> 01:08:01,280
hard time in approving the ETF 
is that they did not want 

1177
01:08:01,480 --> 01:08:06,200
Bitcoin being essentially 
accepted within the traditional 

1178
01:08:06,200 --> 01:08:08,160
financial system. 
They didn't want it. 

1179
01:08:08,160 --> 01:08:11,440
He even mentioned it there. 
He also tried to use a lot of 

1180
01:08:11,440 --> 01:08:14,920
scare tactics, basically saying,
look, I, I have a degree in 

1181
01:08:14,920 --> 01:08:17,120
economics. 
It's like, bro, F you, dude. 

1182
01:08:17,120 --> 01:08:19,520
Like what does that even matter?
Like what is it like? 

1183
01:08:19,560 --> 01:08:23,960
You have a degree in economics. 
You testified in 2022, dude. 

1184
01:08:23,960 --> 01:08:28,800
If you would have bought Bitcoin
in 2022, even with the 50% dump 

1185
01:08:28,800 --> 01:08:32,120
that we have now, you'd 3-4 
extra money, bro. 

1186
01:08:32,319 --> 01:08:36,439
So take that degree in economics
and shove it where the sun don't

1187
01:08:36,439 --> 01:08:38,520
shine, my friend. 
All right, that's the first 

1188
01:08:38,520 --> 01:08:40,880
thing I got to say. 
The second thing I got to say is

1189
01:08:40,880 --> 01:08:44,520
like look, they're trying to 
paint a narrative and you guys 

1190
01:08:44,520 --> 01:08:47,840
have to understand that the 
people that the midterms that 

1191
01:08:47,840 --> 01:08:51,600
are about to happen. 
This is the mainstream consensus

1192
01:08:51,840 --> 01:08:56,000
in the political party that is 
running against the current 

1193
01:08:56,000 --> 01:09:00,920
political party that has power. 
So you could see another 

1194
01:09:00,920 --> 01:09:06,120
operation choke .23 point O 
start once again once a 

1195
01:09:06,120 --> 01:09:09,800
political pendulum swings back. 
So it's incredibly important to 

1196
01:09:09,800 --> 01:09:12,840
stay on top of these things, 
ladies and gentlemen, so you 

1197
01:09:12,840 --> 01:09:16,319
understand the narrative because
at the end of the day, you guys 

1198
01:09:16,319 --> 01:09:19,560
are the frontline soldiers 
because you're going to have 

1199
01:09:19,560 --> 01:09:21,279
family, you're going to have 
friends. 

1200
01:09:21,399 --> 01:09:24,680
If you have a following like 
Bram who has a podcast, you're 

1201
01:09:24,680 --> 01:09:27,319
going to have a lot of people 
that are listening to you. 

1202
01:09:27,319 --> 01:09:30,240
You're going to have a lot of 
people that are potentially ran 

1203
01:09:30,240 --> 01:09:33,720
into that video and say, hey, 
Nico, I saw one of my favorite 

1204
01:09:33,720 --> 01:09:35,760
TV actors, he made a 
documentary. 

1205
01:09:35,840 --> 01:09:39,240
He has a degree in economics and
he's telling me that crypto's a 

1206
01:09:39,240 --> 01:09:41,600
scam, right? 
So, and again, he's being a 

1207
01:09:41,600 --> 01:09:44,640
little bit dishonest here 
because again, he's once again 

1208
01:09:44,640 --> 01:09:47,640
taking advantage of the fact 
that people can't differentiate 

1209
01:09:47,760 --> 01:09:50,319
the difference between Bitcoin 
and crypto. 

1210
01:09:50,479 --> 01:09:53,520
And he's commingling the two, 
he's putting the two together 

1211
01:09:53,640 --> 01:09:56,720
and he's, and he's basically 
selling it to you that, hey, 

1212
01:09:56,720 --> 01:09:59,520
listen, all crypto's a scam. 
I, I would agree and say, 

1213
01:09:59,520 --> 01:10:02,280
listen, crypto is a scam, but 
Bitcoin isn't crypto. 

1214
01:10:02,360 --> 01:10:04,680
But he's not being honest. 
He's not being sincere. 

1215
01:10:04,680 --> 01:10:07,080
He's not telling you there's a 
difference between Bitcoin and 

1216
01:10:07,080 --> 01:10:09,920
crypto. 
He's also conveniently leaving 

1217
01:10:09,920 --> 01:10:13,000
out the fact that, hey, when he 
testified in front of Congress 

1218
01:10:13,000 --> 01:10:16,520
in 2022, the price of Bitcoin 
was significantly lower than 

1219
01:10:16,520 --> 01:10:18,160
what the price of Bitcoin is 
right now. 

1220
01:10:18,320 --> 01:10:21,120
So again, it's it's it's it's a 
political narrative. 

1221
01:10:21,280 --> 01:10:24,400
It has to do with control. 
It has to do with the fact that 

1222
01:10:24,400 --> 01:10:28,680
these people want a central bank
digital currency. 

1223
01:10:28,840 --> 01:10:32,800
And if you have Bitcoin, a non 
sovereign alternative that is 

1224
01:10:32,800 --> 01:10:37,200
superior to a central bank 
digital currency, it impedes 

1225
01:10:37,200 --> 01:10:39,760
their political goals. 
That's what it comes down to. 

1226
01:10:39,960 --> 01:10:43,880
It comes down to power at the 
end of the day, full stop. 

1227
01:10:44,240 --> 01:10:46,240
Bram, I want to get your 
thoughts on this man. 

1228
01:10:46,360 --> 01:10:49,880
You're based in Europe dude. 
It is significantly worse the 

1229
01:10:49,880 --> 01:10:52,600
situation over there than it is 
in the states. 

1230
01:10:52,840 --> 01:10:56,720
It's it's digital euro full 
steam ahead. 

1231
01:10:56,960 --> 01:10:59,960
Christine Lagarde, Opti's 
ex-girlfriend doesn't give a 

1232
01:10:59,960 --> 01:11:03,960
flying F what people actually 
want, what people actually think

1233
01:11:04,640 --> 01:11:08,040
she's shoving down the digital 
euro down everyone's throats. 

1234
01:11:08,080 --> 01:11:10,800
I want to get your take man. 
What is the regulatory 

1235
01:11:10,800 --> 01:11:13,320
environment look like in the EU 
right now? 

1236
01:11:15,400 --> 01:11:18,480
Oh, man, big question. 
But yeah, by the way, to go back

1237
01:11:18,480 --> 01:11:21,640
to Ben McKenzie, I made this 
meme that says, you know, I I 

1238
01:11:21,640 --> 01:11:23,720
don't understand Bitcoin, but 
but it sucks. 

1239
01:11:23,720 --> 01:11:25,040
I have it. 
I have an opinion. 

1240
01:11:25,040 --> 01:11:29,560
It is, it is to connect back to,
to what I said before. 

1241
01:11:29,560 --> 01:11:32,840
It's all so tiring. 
It's all so intellectual, 

1242
01:11:32,960 --> 01:11:35,320
intellectually lazy. 
And I agree with you. 

1243
01:11:35,760 --> 01:11:39,320
Eventually it is about control. 
It's about keeping people 

1244
01:11:39,320 --> 01:11:45,080
asleep, dormant, not questioning
what money is, where it comes 

1245
01:11:45,080 --> 01:11:47,840
from, who controls them, but 
basically just looking at the 

1246
01:11:47,840 --> 01:11:50,480
government and being like, oh, 
yeah, please, please tell me 

1247
01:11:50,480 --> 01:11:52,640
what to think. 
Please tell me what to do. 

1248
01:11:52,640 --> 01:11:55,280
Please tell me which money to 
use. 

1249
01:11:55,280 --> 01:11:57,880
And I see that. 
I see this comment now, right? 

1250
01:11:57,880 --> 01:12:03,480
Like, people find it easy to 
dunk on Bitcoin when there is 

1251
01:12:03,480 --> 01:12:06,200
this volatility in price. 
And whether or not you have a 

1252
01:12:06,200 --> 01:12:08,720
degree, like Christine Lagarde 
also has a degree. 

1253
01:12:08,720 --> 01:12:10,840
She also has a criminal 
conviction, by the way. 

1254
01:12:12,920 --> 01:12:18,040
I think honestly the the digital
euro will fail. 

1255
01:12:18,320 --> 01:12:23,440
There is a well, not public 
debate, but sometimes there's 

1256
01:12:23,440 --> 01:12:26,640
people that that work on the 
digital euro that are on 

1257
01:12:26,640 --> 01:12:30,640
podcasts or whatever. 
And when you hear kind of like 

1258
01:12:30,640 --> 01:12:35,960
this, I want to say corporate 
speak where they talk about, 

1259
01:12:35,960 --> 01:12:39,440
well, currently it's a bit in a 
bit of a pause moment and we 

1260
01:12:39,440 --> 01:12:41,960
need to find clarity and 
alignment on everyone 

1261
01:12:41,960 --> 01:12:43,480
participating etcetera, 
etcetera. 

1262
01:12:44,520 --> 01:12:47,040
I honestly think it's going to 
fail. 

1263
01:12:47,040 --> 01:12:50,240
But you're seeing this push for 
centralization like you're 

1264
01:12:50,240 --> 01:12:54,960
seeing everywhere. 
And in my opinion, it is kind of

1265
01:12:54,960 --> 01:12:58,240
like the last. 
They are like the last 

1266
01:12:58,240 --> 01:13:02,440
struggles, the last attempts on 
this kind of like pendulum swing

1267
01:13:02,440 --> 01:13:06,880
we've been on towards 
centralization, where I think 

1268
01:13:06,880 --> 01:13:10,680
there will be a point in the not
so distant future where people 

1269
01:13:10,680 --> 01:13:13,720
will realize, well, what are the
actual benefits of more 

1270
01:13:13,720 --> 01:13:16,160
centralization? 
If a government is growing, if 

1271
01:13:16,160 --> 01:13:21,240
my taxes go up, if I cannot 
afford the same type of living 

1272
01:13:21,240 --> 01:13:26,080
standard anymore, whether it's 
housing or food or leisure or 

1273
01:13:26,080 --> 01:13:30,240
whatever, what what is the 
benefit to me? 

1274
01:13:30,520 --> 01:13:35,040
And I think eventually there's 
this point where the obfuscation

1275
01:13:35,040 --> 01:13:40,200
and the obscurity of everything 
that they're messing with and 

1276
01:13:40,200 --> 01:13:43,760
which is not giving us any added
benefit or, or value to our 

1277
01:13:43,760 --> 01:13:48,200
lives will just be too much for 
them to to keep on covering up. 

1278
01:13:48,200 --> 01:13:54,000
And so I think it's funny your, 
your, your differences in, in 

1279
01:13:54,000 --> 01:13:58,760
the studio, like should we be 
bullish or should we be bearish 

1280
01:13:59,560 --> 01:14:02,600
like we talked about just now? 
I think we are still extremely 

1281
01:14:02,600 --> 01:14:04,440
early. 
We, we, we have a certain 

1282
01:14:04,440 --> 01:14:09,720
foresight of where the road of 
Fiat money is going and ending 

1283
01:14:10,000 --> 01:14:11,720
and we're already acting upon 
it. 

1284
01:14:11,720 --> 01:14:15,680
I mean, I think we are like the,
the, the preppers in the 90s 

1285
01:14:15,680 --> 01:14:18,600
that you saw on TV right there 
in the early 2000, you saw these

1286
01:14:18,600 --> 01:14:21,600
preppers and we all fought like 
these people are crazy. 

1287
01:14:21,600 --> 01:14:24,560
I think, I think we are 
basically digital, digital 

1288
01:14:24,560 --> 01:14:26,320
preppers. 
But as far as Europe goes, you 

1289
01:14:26,320 --> 01:14:30,280
see we're going towards more and
more centralization. 

1290
01:14:30,280 --> 01:14:33,880
Even this whole chat control, 
you know, digital ID to be on 

1291
01:14:33,880 --> 01:14:37,160
the Internet, all these things. 
I, I think it's all connected 

1292
01:14:37,160 --> 01:14:40,240
and they are trying. 
But like I said, I think people 

1293
01:14:40,240 --> 01:14:45,520
will figure out and I think on 
time that there are no edit 

1294
01:14:45,800 --> 01:14:48,720
benefits to more centralization.
It's becoming more and more 

1295
01:14:48,720 --> 01:14:50,920
clear that there are no added 
benefits for more 

1296
01:14:50,920 --> 01:14:52,720
centralization. 
Yeah. 

1297
01:14:52,720 --> 01:15:00,200
But I mean, like I, I hear you 
on that, but the political 

1298
01:15:00,200 --> 01:15:07,040
situation is not clear in that 
regard in terms of like it's 

1299
01:15:07,040 --> 01:15:10,400
like, yes, I agree with you. 
There are no added benefits to 

1300
01:15:10,400 --> 01:15:13,320
your added centralization. 
But if that were true, that 

1301
01:15:13,320 --> 01:15:16,920
people were realizing it, then 
at the end of the day, we 

1302
01:15:16,920 --> 01:15:20,920
wouldn't find ourselves in this 
situation, right, where major 

1303
01:15:20,920 --> 01:15:25,400
political parties in both 
continents, in the Americas and 

1304
01:15:25,560 --> 01:15:29,960
in the EU still think that 
centralization is a good thing. 

1305
01:15:30,240 --> 01:15:32,920
Those major political parties 
wouldn't have the influence. 

1306
01:15:32,920 --> 01:15:36,360
They wouldn't have the power 
that they have today without 

1307
01:15:36,360 --> 01:15:40,120
popular support. 
So it's like, I agree with you 

1308
01:15:40,120 --> 01:15:44,280
that maybe eventually one day 
people will realize that more 

1309
01:15:44,280 --> 01:15:47,520
centralization is not a good 
thing, but the political reality

1310
01:15:47,520 --> 01:15:51,600
is telling an an entirely 
different story today on the 

1311
01:15:51,600 --> 01:15:53,960
ground. 
Yeah, I mean, I mean, I also 

1312
01:15:53,960 --> 01:15:56,360
agree with that, right. 
And This is why you and I are 

1313
01:15:56,440 --> 01:16:00,520
are talking about this. 
And we're, you know, putting our

1314
01:16:00,520 --> 01:16:05,840
efforts in in, in our own way. 
So, you know, you're, you're 

1315
01:16:05,840 --> 01:16:10,200
definitely not wrong there. 
I do think, you know, and by the

1316
01:16:10,200 --> 01:16:12,680
way, we could obviously also be 
wrong. 

1317
01:16:12,680 --> 01:16:19,120
If 80% of the people are just 
sleeping and NPCS and they allow

1318
01:16:19,120 --> 01:16:21,240
themselves to be taken advantage
of. 

1319
01:16:22,160 --> 01:16:24,960
People know better than them 
that want to control them, then,

1320
01:16:25,560 --> 01:16:27,880
well, maybe that is our faith, 
right? 

1321
01:16:28,360 --> 01:16:31,680
Eventually, I don't know. 
But my, my, my kind of 

1322
01:16:31,680 --> 01:16:34,280
conclusion always is, well, what
else, right? 

1323
01:16:34,280 --> 01:16:36,760
If, if we know, if we know all 
of this, right? 

1324
01:16:36,760 --> 01:16:39,920
Or, or I follow what you're 
saying, well, you know, should, 

1325
01:16:39,920 --> 01:16:43,120
should I also start voting for 
these people or following these 

1326
01:16:43,120 --> 01:16:44,840
people? 
Should I adopt the CBDC? 

1327
01:16:45,160 --> 01:16:48,960
You know, this is not in my 
individual interest or that of 

1328
01:16:48,960 --> 01:16:54,200
my, of my family. 
So I am acting based upon the 

1329
01:16:54,200 --> 01:16:58,880
information that I have, the 
view of the future that I want 

1330
01:16:58,880 --> 01:17:03,280
to have also, and that is what 
I'm working toward. 

1331
01:17:03,280 --> 01:17:06,120
And is that 100% certain 
outcome? 

1332
01:17:06,120 --> 01:17:09,040
Definitely not. 
I think that's also what Larry 

1333
01:17:09,040 --> 01:17:11,400
Laparte, you know, alluded to in
the video. 

1334
01:17:11,680 --> 01:17:17,160
And I agree with that. 
You know, Bitcoin in that sense 

1335
01:17:17,160 --> 01:17:22,000
is also still an experiment. 
You know, it is either 0 or it's

1336
01:17:22,000 --> 01:17:24,680
the black hole of value, the 
measurement of all value or 

1337
01:17:24,680 --> 01:17:28,720
however you want to define that.
I don't personally don't really 

1338
01:17:28,720 --> 01:17:32,920
see that there's like a middle 
of the road ending for for 

1339
01:17:32,920 --> 01:17:35,360
Bitcoin. 
And again, that's that's what 

1340
01:17:35,360 --> 01:17:39,200
I'm acting upon. 
And also I don't I don't think 

1341
01:17:39,200 --> 01:17:42,040
it's going to be quick. 
I think this is going to be a 

1342
01:17:42,040 --> 01:17:46,200
very slow long grind. 
Maybe we get 5 or 10 years of 

1343
01:17:46,200 --> 01:17:49,520
dystopia with central bank 
digital currencies in between. 

1344
01:17:49,520 --> 01:17:53,640
I don't, I don't know. 
But my, my rebuttal to, you 

1345
01:17:53,640 --> 01:17:55,720
know, when someone says 
something like you just said, 

1346
01:17:56,040 --> 01:17:57,760
it's like, yeah, OK, then, then 
what? 

1347
01:17:57,800 --> 01:17:58,520
Right. 
Like what? 

1348
01:17:58,520 --> 01:18:00,680
What should I do? 
Should I just lay down, roll 

1349
01:18:00,680 --> 01:18:04,080
over and be like, OK, please, 
you know, Daddy government, tell

1350
01:18:04,080 --> 01:18:05,960
me, tell me what to do, right? 
Like what? 

1351
01:18:06,080 --> 01:18:09,760
What do you expect? 
I think, I think we just got, I 

1352
01:18:09,760 --> 01:18:13,680
think we just got to all move, 
to move to El Salvador. 

1353
01:18:13,680 --> 01:18:18,840
Maybe, if push comes to shove, 
maybe we should Opti. 

1354
01:18:18,840 --> 01:18:20,680
Opti doesn't want to. 
What does Opti think? 

1355
01:18:22,160 --> 01:18:26,280
I'm not leaving America. 
For as long as possible. 

1356
01:18:26,360 --> 01:18:30,600
You guys are tripping. 
No, look, I, I actually was 

1357
01:18:30,600 --> 01:18:32,840
going to troll. 
I, I was going to come on here 

1358
01:18:32,840 --> 01:18:34,440
and, and troll and be like, you 
know what? 

1359
01:18:34,440 --> 01:18:36,920
I really do want the Dems in 
power right now because, you 

1360
01:18:36,920 --> 01:18:38,640
know, Bitcoin was pumping when 
they were in power. 

1361
01:18:38,640 --> 01:18:41,720
We have the Republicans 
embracing us and we're down 50%.

1362
01:18:41,720 --> 01:18:46,800
I was promised 150K quickly here
we are and we're getting cooked.

1363
01:18:47,560 --> 01:18:51,840
But no, I mean obviously like 
that's just me being cynical and

1364
01:18:51,840 --> 01:18:54,920
trolling. 
I I totally agree with Bram. 

1365
01:18:54,920 --> 01:18:58,760
I was like like it's very easy. 
Like the chat said, you know 

1366
01:18:58,760 --> 01:19:03,520
it's very easy right now to dunk
on Bitcoin like we're down 50%. 

1367
01:19:03,520 --> 01:19:05,600
It's a bear market. 
It like this happens all the 

1368
01:19:05,600 --> 01:19:08,000
time. 
But like you said, Bram, it's 

1369
01:19:08,000 --> 01:19:10,920
like, if not Bitcoin, like what,
what else is there? 

1370
01:19:10,960 --> 01:19:14,280
And, and I'm, I'm, you know, 
100% on board with that. 

1371
01:19:14,280 --> 01:19:19,080
I'm like, look, if Bitcoin 
fails, like we have literally no

1372
01:19:19,080 --> 01:19:23,360
options here. 
So I'd, I'd rather try than just

1373
01:19:23,360 --> 01:19:26,480
basically, you know, bend the 
knee and just be like, OK, you 

1374
01:19:26,480 --> 01:19:29,920
know, give, give me, give me 
whatever you want, big daddy 

1375
01:19:29,920 --> 01:19:32,880
government. 
Because it's just, I'm, I think 

1376
01:19:33,000 --> 01:19:35,760
inherently kind of anti 
authoritarian in that respect. 

1377
01:19:35,760 --> 01:19:37,880
And I just, you can't tell me 
anything. 

1378
01:19:38,240 --> 01:19:42,440
So I'd rather fail trying than 
just accept what the powers that

1379
01:19:42,440 --> 01:19:46,160
be have for us. 
But with that said, just like 

1380
01:19:46,600 --> 01:19:48,200
we, we knew this was going to 
happen. 

1381
01:19:48,960 --> 01:19:52,800
We, we knew we were going to 
have actors and left-leaning 

1382
01:19:54,160 --> 01:19:57,400
media come out and be like, oh, 
look how bad Bitcoin is because 

1383
01:19:57,400 --> 01:19:59,440
Trump did embrace Bitcoin so 
much. 

1384
01:19:59,440 --> 01:20:02,800
I've actually been saying this 
for over a year, or rather since

1385
01:20:02,800 --> 01:20:05,640
November of 2024, that I was 
like, guys, this was going to 

1386
01:20:05,640 --> 01:20:07,600
happen. 
And now that the midterms are 

1387
01:20:07,600 --> 01:20:11,080
coming up, it is funny to see. 
Or rather, maybe not necessarily

1388
01:20:11,080 --> 01:20:14,840
funny in like an actually funny 
way, but it's interesting to see

1389
01:20:14,840 --> 01:20:17,440
that the propaganda machine is 
coming out. 

1390
01:20:18,320 --> 01:20:21,240
And starting to lay the 
foundation to be like, ha, ha, I

1391
01:20:21,240 --> 01:20:23,320
told you guys Bitcoin was a bad 
investment. 

1392
01:20:23,600 --> 01:20:26,920
And then they literally have 
like an actor, you know, making 

1393
01:20:26,920 --> 01:20:29,640
content and being like, oh, I 
have a degree in economics. 

1394
01:20:29,640 --> 01:20:32,840
And it's like a cool story, bro.
Like you, you were wrong about 

1395
01:20:32,840 --> 01:20:35,040
Bitcoin. 
But now, now you can say, oh, I 

1396
01:20:35,040 --> 01:20:38,400
was right about Bitcoin. 
Look, it's 50% down in a year or

1397
01:20:38,400 --> 01:20:40,720
two when you know, Bitcoin is 
ripping. 

1398
01:20:40,720 --> 01:20:42,400
He's not going to be out here 
saying anything. 

1399
01:20:42,400 --> 01:20:44,280
He'll just continue to be. 
It's the biggest policy in the 

1400
01:20:44,280 --> 01:20:45,600
world. 
And you're like, OK, cool, bro. 

1401
01:20:45,600 --> 01:20:47,640
Like just tell me you missed out
on it. 

1402
01:20:47,640 --> 01:20:49,720
I don't really you need to 
listen to your opinions here 

1403
01:20:49,720 --> 01:20:52,600
because you're just missing the 
best asset, period. 

1404
01:20:52,600 --> 01:20:54,640
You're missing the best 
investment, you're missing the 

1405
01:20:54,640 --> 01:20:57,720
best money and you're too blind 
to see that because of your 

1406
01:20:57,720 --> 01:21:00,520
prior. 
So like I'm OK with I literally 

1407
01:21:00,640 --> 01:21:03,560
at this point, I'm OK with 
people metaphorically shooting 

1408
01:21:03,560 --> 01:21:04,760
themselves in the foot right 
now. 

1409
01:21:04,760 --> 01:21:07,760
Let's just hope we can protect 
the people that are listening to

1410
01:21:07,760 --> 01:21:09,880
them and be and get them all 
into Bitcoin. 

1411
01:21:10,120 --> 01:21:12,120
Yeah, absolutely. 
Anyways, guys, it's going to be 

1412
01:21:12,120 --> 01:21:13,920
an incredible show. 
We're we're going to talk to 

1413
01:21:13,920 --> 01:21:15,640
Bram about his podcast. 
What? 

1414
01:21:15,640 --> 01:21:18,400
He's you? 
Have to look at the at the, the 

1415
01:21:18,400 --> 01:21:20,560
comments, the comments. 
Are so brutal dude. 

1416
01:21:20,680 --> 01:21:23,360
Welcome the comments are the 
comments are cooking. 

1417
01:21:23,360 --> 01:21:24,920
Welcome to simply Bitcoin. 
Bro. 

1418
01:21:24,920 --> 01:21:28,280
We literally have the most 
brutal comments ever man. 

1419
01:21:28,640 --> 01:21:30,800
You should check out the Rumble 
comments, they're even worse. 

1420
01:21:31,160 --> 01:21:33,680
No, dude, wait, sorry. 
Do you know what it said It 

1421
01:21:33,680 --> 01:21:35,280
said? 
I hope when I watch your show 

1422
01:21:35,280 --> 01:21:37,560
they tell they they said. 
Bro, I hope when I watch your 

1423
01:21:37,560 --> 01:21:40,400
show and talk about how you were
invited to simply Bitcoin and 

1424
01:21:40,400 --> 01:21:42,160
didn't get to speak a fucking 
sentence. 

1425
01:21:43,680 --> 01:21:45,960
Bro, they're brutal. 
They make fun of me. 

1426
01:21:46,440 --> 01:21:48,840
They fun and make fun of me a 
little bit more than than. 

1427
01:21:48,920 --> 01:21:53,880
Opti dude, the chat loves me. 
But yeah, the it's the comments 

1428
01:21:53,920 --> 01:21:57,880
are the comment box is spicy and
legendary, but we love all you 

1429
01:21:57,880 --> 01:21:59,400
guys anyways. 
If you guys are enjoying the 

1430
01:21:59,400 --> 01:22:01,640
show, make sure to smash that 
like button. 

1431
01:22:01,640 --> 01:22:04,360
We're going to talk about all 
things Bram during the culture 

1432
01:22:04,360 --> 01:22:05,960
segment. 
We're going to be right back in 

1433
01:22:05,960 --> 01:22:08,440
just a little bit. 
I want to give a shout out to 

1434
01:22:08,440 --> 01:22:11,000
our partner Hive Digital 
Technologies. 

1435
01:22:11,040 --> 01:22:15,840
Fueled by clean energy, Hive has
quadrupled its global Bitcoin 

1436
01:22:15,840 --> 01:22:19,720
mining footprint and channels 
that same scale into high 

1437
01:22:19,720 --> 01:22:23,680
performance compute, where their
AI cloud is now ranked number 

1438
01:22:23,680 --> 01:22:26,280
one in the world for network 
performance. 

1439
01:22:26,480 --> 01:22:30,960
At Hive, you've got dual 
engines, Bitcoin and AI humming,

1440
01:22:31,160 --> 01:22:33,280
roaring, accelerating and 
unison. 

1441
01:22:33,360 --> 01:22:35,800
They're lean and mean. 
They're green and clean, and 

1442
01:22:35,800 --> 01:22:39,080
they're rewriting the playbook 
on sustainable digital 

1443
01:22:39,120 --> 01:22:42,200
infrastructure. 
You can catch the latest buzz at

1444
01:22:42,200 --> 01:22:45,440
Hive Digital Tech or at Hive 
digitaltech.com. 

1445
01:22:50,280 --> 01:22:51,960
Wait, I have to address this 
comment. 

1446
01:22:51,960 --> 01:22:53,720
Nico can't even pronounce the 
word. 

1447
01:22:54,080 --> 01:22:56,720
I'm saying El Salvador so you 
guys understand it. 

1448
01:22:56,720 --> 01:22:59,520
Do you want me to say it with a 
Spanish accent every time, El 

1449
01:22:59,520 --> 01:23:01,160
Salado like. 
No, don't do that. 

1450
01:23:01,160 --> 01:23:03,680
That's really annoying. 
Like I'm trying to, I'm trying 

1451
01:23:03,680 --> 01:23:09,560
to like say it for you guys. 
So anyways, Bram, welcome dude. 

1452
01:23:09,600 --> 01:23:10,960
How you been? 
How's life? 

1453
01:23:12,360 --> 01:23:14,040
I'm happy I get to talk now. 
No, I'm kidding. 

1454
01:23:14,400 --> 01:23:18,240
No work work. 
I mean, dude, we could have no. 

1455
01:23:18,240 --> 01:23:20,600
You know I love you. 
We could, we could have invited 

1456
01:23:20,600 --> 01:23:23,320
you, we could have invited you 
at the, at the 2:00 PM mark, 

1457
01:23:23,320 --> 01:23:26,760
which we usually do for some 
guests, but I, I, I thought we'd

1458
01:23:26,760 --> 01:23:29,720
want to have you included in, in
part of the show, so. 

1459
01:23:29,920 --> 01:23:32,120
And then you rented for 20 
minutes and then. 

1460
01:23:32,720 --> 01:23:36,280
So we, we, we did, you know, we,
we invited you a little bit 

1461
01:23:36,280 --> 01:23:39,200
earlier than what we than we 
normally invite people in. 

1462
01:23:39,200 --> 01:23:41,360
But I don't know. 
I thought I wanted you part of 

1463
01:23:41,360 --> 01:23:42,880
the, I wanted you part of the 
show, man. 

1464
01:23:42,880 --> 01:23:45,560
Next, next time I know I'll 
invite you at 2:00. 

1465
01:23:45,600 --> 01:23:46,800
I'll invite you at 2:00 next. 
Time. 

1466
01:23:48,720 --> 01:23:50,440
He's spicy, Optic. 
He's spicy. 

1467
01:23:50,760 --> 01:23:52,640
Yeah, yeah, I've been trolling 
him a lot. 

1468
01:23:52,640 --> 01:23:55,040
So now he's, he's a, he's a 
little sensitive this morning, 

1469
01:23:55,040 --> 01:23:57,720
not just because about us 
trolling him. 

1470
01:23:57,720 --> 01:23:59,800
He, he's getting a little 
sensitive this morning. 

1471
01:23:59,800 --> 01:24:02,240
So, you know, we'll, we'll be 
OK. 

1472
01:24:02,240 --> 01:24:05,800
We'll I'll, I'll make sure he, 
he eats good and maybe takes a 

1473
01:24:05,800 --> 01:24:06,960
nap later. 
He'll be OK. 

1474
01:24:06,960 --> 01:24:07,840
Yeah. 
Yeah, yeah. 

1475
01:24:09,920 --> 01:24:12,920
No, man, I'm, I have to say I'm,
I'm, I'm, I'm good. 

1476
01:24:12,920 --> 01:24:15,520
I think I think, yeah, you know 
what I what I just said. 

1477
01:24:15,520 --> 01:24:19,880
I think it's just so interesting
that and I think you guys have a

1478
01:24:19,880 --> 01:24:26,400
similar. 
Yeah, well, maybe this ties into

1479
01:24:26,400 --> 01:24:27,360
that. 
I think you have a similar 

1480
01:24:27,360 --> 01:24:31,160
experience, right? 
Like, I last week I realized 

1481
01:24:31,160 --> 01:24:38,680
that I've experienced 570 plus 
percent drawdowns, but honestly,

1482
01:24:38,680 --> 01:24:44,200
this one feels the most random 
because nothing really, nothing 

1483
01:24:44,200 --> 01:24:45,760
really happened. 
There is no reason. 

1484
01:24:45,760 --> 01:24:50,440
There's no FTX, there's no China
ban or whatever random thing 

1485
01:24:50,440 --> 01:24:55,520
happened. 
So yeah, I just, I, I wonder 

1486
01:24:55,520 --> 01:24:58,280
what's going on. 
I like the takes where it says, 

1487
01:24:58,280 --> 01:25:00,920
you know, like the people that 
understand this in the financial

1488
01:25:00,920 --> 01:25:05,880
world, they're trying to, you 
know, manipulate and flush 

1489
01:25:05,880 --> 01:25:07,320
everyone out and blah, blah, 
blah. 

1490
01:25:07,400 --> 01:25:10,680
You know, I, I think anything 
that we can say is probably just

1491
01:25:10,680 --> 01:25:16,080
interpreted as cope. 
But what I get back to is just a

1492
01:25:16,080 --> 01:25:20,400
fundamental analysis of what 
what Bitcoin is. 

1493
01:25:20,400 --> 01:25:23,640
And again, we just touched upon 
it a little bit. 

1494
01:25:24,240 --> 01:25:27,280
You know, Fiat money debasement 
is mathematically assured. 

1495
01:25:27,280 --> 01:25:32,640
It is a path dependent thing. 
The end is 0. 

1496
01:25:32,640 --> 01:25:36,440
So if you are a millennial, like
like you said, my podcast is 

1497
01:25:36,440 --> 01:25:38,760
Bitcoin for millennials. 
I focus on educating my 

1498
01:25:39,000 --> 01:25:41,040
generation. 
I think there is no pension for 

1499
01:25:41,040 --> 01:25:42,360
you. 
I think there are no social 

1500
01:25:42,360 --> 01:25:45,840
benefits for you. 
And so you have a problem today 

1501
01:25:45,840 --> 01:25:50,200
whether you want it or not. 
And so you have to start looking

1502
01:25:50,200 --> 01:25:56,240
for something that can keep your
purchasing power toward the 

1503
01:25:56,240 --> 01:25:59,640
future. 
And for me, that eventually has 

1504
01:25:59,640 --> 01:26:02,080
become Bitcoin, right? 
Like even today, if you say 

1505
01:26:02,080 --> 01:26:04,560
like, oh, well, the price is 
going down, It's, it's, it's 

1506
01:26:04,560 --> 01:26:06,920
nothing. 
I'm going to, you know, sell 

1507
01:26:06,920 --> 01:26:10,160
Bitcoin, then, you know, it's 
sell, sell for what the money is

1508
01:26:10,160 --> 01:26:13,120
being debased. 
Real estate is never your stocks

1509
01:26:13,120 --> 01:26:20,000
are never your yours gold. 
You you cannot take anywhere on 

1510
01:26:20,000 --> 01:26:22,000
on a plane to to another 
country. 

1511
01:26:22,000 --> 01:26:25,400
You cannot have that in in self 
custody to a degree. 

1512
01:26:25,680 --> 01:26:31,520
So for me, the most rational 
conclusion in the digital age is

1513
01:26:31,520 --> 01:26:34,960
Bitcoin. 
But I also think I also think 

1514
01:26:34,960 --> 01:26:41,240
we're early and I think we're 
also in a stage of let's say 

1515
01:26:41,240 --> 01:26:44,480
the, the US, you know, world 
reserve currency 4th turning, 

1516
01:26:44,480 --> 01:26:48,560
however you want to define it, 
which is just incredibly chaotic

1517
01:26:48,560 --> 01:26:51,640
and will become more, more 
chaotic. 

1518
01:26:52,000 --> 01:26:55,280
And I also think that people are
the majority of people is 

1519
01:26:55,280 --> 01:26:57,840
returning to what they think has
value, right? 

1520
01:26:57,840 --> 01:27:01,120
Like central banks are buying 
are buying gold. 

1521
01:27:02,680 --> 01:27:04,520
That is usually an argument for 
some people. 

1522
01:27:04,520 --> 01:27:06,680
Like, you know, central banks 
are buying gold and they aren't 

1523
01:27:06,680 --> 01:27:09,040
buying Bitcoin. 
But if you objectively look at 

1524
01:27:09,040 --> 01:27:11,560
the characteristics of gold and 
Bitcoin next to each other, 

1525
01:27:12,240 --> 01:27:14,720
Bitcoin is vastly superior, 
right? 

1526
01:27:14,720 --> 01:27:18,840
So even this whole notion of 
calling Bitcoin digital gold, 

1527
01:27:19,160 --> 01:27:21,280
that is it. 
It's so funny when you read like

1528
01:27:21,280 --> 01:27:22,960
all these bearish comments on X,
right? 

1529
01:27:22,960 --> 01:27:25,360
Like it's, it's not digital gold
or we don't know whatever the 

1530
01:27:25,360 --> 01:27:28,880
fuck their arguments are. 
No, like digital gold is an 

1531
01:27:29,160 --> 01:27:34,000
illustrative description to give
you a certain sense of how you 

1532
01:27:34,000 --> 01:27:36,640
could think about Bitcoin. 
But when you look at at the 

1533
01:27:36,640 --> 01:27:40,520
characteristics of Bitcoin, you 
will see that it is, like I 

1534
01:27:40,520 --> 01:27:44,960
said, vastly superior. 
So it is itself, it is just 

1535
01:27:44,960 --> 01:27:47,360
Bitcoin, but just the term 
digital gold is just to help 

1536
01:27:47,360 --> 01:27:51,440
people to think in a certain 
direction, as my understanding 

1537
01:27:51,440 --> 01:27:55,320
currently is that Bitcoin is a 
profound technological discovery

1538
01:27:55,720 --> 01:27:58,600
that everyone should understand.
Ended up but the world still 

1539
01:27:58,600 --> 01:28:01,760
thinks I'm crazy. 
Yeah, bro, the the world thinks 

1540
01:28:01,760 --> 01:28:03,720
we're all crazy. 
They think, you know, they 

1541
01:28:03,720 --> 01:28:05,400
think. 
We're I might actually be crazy 

1542
01:28:05,400 --> 01:28:07,520
though. 
Opti, you're crazy. 

1543
01:28:07,520 --> 01:28:09,400
I know, I know, I I'm leaning 
into. 

1544
01:28:09,400 --> 01:28:11,240
It But maybe we're all crazy. 
Maybe. 

1545
01:28:11,280 --> 01:28:13,280
We're friends. 
So you're definitely crazy. 

1546
01:28:13,280 --> 01:28:15,840
Yeah, yeah. 
And Bram likes us, so he's 

1547
01:28:15,840 --> 01:28:17,200
definitely crazy. 
Yeah, we're all. 

1548
01:28:17,320 --> 01:28:18,840
Crazy. 
We're all crazy. 

1549
01:28:19,240 --> 01:28:22,240
Bram, talk to me about the 
Bitcoin for Millennials pod. 

1550
01:28:22,240 --> 01:28:25,040
A huge fan of your podcast, man.
I think you make incredible 

1551
01:28:25,040 --> 01:28:28,040
content. 
You know, I love the love the 

1552
01:28:28,040 --> 01:28:30,880
interviews that you conduct and 
and the conversations you get 

1553
01:28:30,880 --> 01:28:32,840
into. 
So talk to us a little bit about

1554
01:28:32,840 --> 01:28:34,400
that. 
Perhaps our our viewers have 

1555
01:28:34,440 --> 01:28:38,760
have not seen your work. 
So Bram is the host of the 

1556
01:28:39,280 --> 01:28:41,760
Bitcoin for Millennials podcast.
Talk to us a little bit about 

1557
01:28:41,760 --> 01:28:43,640
that. 
Yeah. 

1558
01:28:43,840 --> 01:28:45,600
Well, thanks. 
Thanks for thanks for that. 

1559
01:28:45,600 --> 01:28:49,400
And, and like I said, I, I'm 
really focusing on my 

1560
01:28:49,400 --> 01:28:51,560
generation. 
I think we are all, you know, 

1561
01:28:51,560 --> 01:28:56,160
millennials are like late, late,
between late 20s, late late 30s,

1562
01:28:56,240 --> 01:28:59,560
like very early 40s. 
And we are, we are in a big 

1563
01:28:59,560 --> 01:29:01,400
stage of our, of our lives, 
right? 

1564
01:29:01,400 --> 01:29:07,200
We have followed a certain path 
into adulthood and now have, 

1565
01:29:07,640 --> 01:29:11,640
yeah, big decisions to to make, 
where to live, who to be with, 

1566
01:29:11,840 --> 01:29:15,080
having children or not, right. 
Like what, what is your career 

1567
01:29:15,400 --> 01:29:17,680
even with, you know, all the AI 
stuff coming. 

1568
01:29:17,920 --> 01:29:20,560
And so we have followed this 
path. 

1569
01:29:20,560 --> 01:29:26,080
But I also think that this path 
eventually LED us to something 

1570
01:29:26,080 --> 01:29:30,520
that was different than the 
thing that we've been told or 

1571
01:29:30,520 --> 01:29:33,720
sold along the way by the 
generations for us, that 

1572
01:29:33,720 --> 01:29:37,600
actually, that actually we're 
able to follow this path and, 

1573
01:29:37,640 --> 01:29:41,800
and build wealth. 
And we are living in this age 

1574
01:29:41,800 --> 01:29:43,480
range. 
You know, we are in this age 

1575
01:29:43,480 --> 01:29:46,120
range, but we are living in a 
time where we see this 

1576
01:29:46,800 --> 01:29:50,680
accelerated debasement of the 
money that we're forced to use 

1577
01:29:50,680 --> 01:29:54,240
this whole push towards 
centralization, right? 

1578
01:29:54,520 --> 01:29:56,960
Very high tax pressure and 
whatnot. 

1579
01:29:56,960 --> 01:30:03,760
I mean, in the US, people work, 
you know, 20% of their taxes go 

1580
01:30:03,760 --> 01:30:06,320
to paying interest on the debt, 
right? 

1581
01:30:06,320 --> 01:30:11,080
It's not even going to paying 
off the debt, let alone it goes 

1582
01:30:11,080 --> 01:30:17,600
to investing into society. 
And so I, I think when you just 

1583
01:30:17,600 --> 01:30:23,240
look at it in, I want to say 
like a primitive way, and you 

1584
01:30:23,240 --> 01:30:26,400
realize that the debt will never
be repaid. 

1585
01:30:26,640 --> 01:30:30,200
The push for centralization and 
control will only be higher 

1586
01:30:30,480 --> 01:30:37,240
because they need more revenue, 
government revenue, so taxes or 

1587
01:30:37,240 --> 01:30:39,880
just creation of money, which 
leads to price inflation. 

1588
01:30:41,560 --> 01:30:43,880
And they know that people won't 
be be happy. 

1589
01:30:43,880 --> 01:30:47,320
So they're scrambling towards 
fabricating some sort of 

1590
01:30:47,680 --> 01:30:53,360
solution or or band aids for 
yeah, what I what I call a path 

1591
01:30:53,360 --> 01:30:59,320
dependent development, which is 
the, you know, Fiat, Fiat money 

1592
01:30:59,320 --> 01:31:03,960
eventually going going to 0, 
which will create all the 

1593
01:31:04,320 --> 01:31:09,000
imaginable unrest that that 
comes along with that. 

1594
01:31:09,000 --> 01:31:13,360
So I think the millennials have 
a problem today that they cannot

1595
01:31:13,360 --> 01:31:17,320
ignore and I like to focus on 
talking about that. 

1596
01:31:17,600 --> 01:31:19,320
Of course, I also talked about 
Bitcoin. 

1597
01:31:19,320 --> 01:31:20,680
It is called Bitcoin for 
millennials. 

1598
01:31:20,680 --> 01:31:24,160
I think Bitcoin is the vehicle 
to protect yourself toward the 

1599
01:31:24,160 --> 01:31:27,600
future. 
But I've come to the realization

1600
01:31:27,600 --> 01:31:32,520
that talking about the problem 
that basically no one is really 

1601
01:31:32,520 --> 01:31:36,520
aware of, which goes from this 
monetary debasement to even 

1602
01:31:36,520 --> 01:31:39,040
understanding what fractional 
reserve banking is, that money 

1603
01:31:39,040 --> 01:31:42,080
in the bank is not yours, right?
That you never really own a 

1604
01:31:42,080 --> 01:31:46,800
stock, etcetera. 
Is is. 

1605
01:31:46,880 --> 01:31:49,200
Yeah, it's something that I, 
that I want to focus on just 

1606
01:31:49,200 --> 01:31:51,360
because I'm seeing no one has a 
clue. 

1607
01:31:51,600 --> 01:31:55,520
And everyone is just, you know, 
doodling, doodling along and 

1608
01:31:55,520 --> 01:31:58,240
they're just, you know, living 
their life, whatever. 

1609
01:31:58,480 --> 01:32:02,000
And I, I think there is 
something coming toward us that 

1610
01:32:02,000 --> 01:32:07,640
is not as positive as, as, as, 
as people might think. 

1611
01:32:07,640 --> 01:32:10,760
And so that's what I'm trying to
help people with to, to 

1612
01:32:10,800 --> 01:32:13,760
understand. 
And yeah, it's very fun to do. 

1613
01:32:13,760 --> 01:32:16,320
I still learn a lot after 10 
years in Bitcoin. 

1614
01:32:16,560 --> 01:32:21,600
Every week there's new stuff 
where you know, I, I'm, I'm 

1615
01:32:21,600 --> 01:32:24,160
surprised by what I'm learning 
and I'm inspired by what I'm 

1616
01:32:24,160 --> 01:32:26,960
learning. 
And so it's a very rewarding 

1617
01:32:26,960 --> 01:32:28,760
thing to do. 
Fantastic. 

1618
01:32:28,760 --> 01:32:33,320
Well, guys, go check out the 
Bitcoin for Millennials podcast.

1619
01:32:33,320 --> 01:32:36,560
Bram, thank you so much for 
joining us on the show today. 

1620
01:32:36,560 --> 01:32:38,200
Really, really appreciated it, 
man. 

1621
01:32:38,200 --> 01:32:41,360
Always love when you come on. 
And yeah, guys, go check out his

1622
01:32:41,360 --> 01:32:43,760
podcast. 
I think I've been I was a guy 

1623
01:32:44,000 --> 01:32:45,680
actually. 
I want to tell the story the 

1624
01:32:45,720 --> 01:32:52,600
first time, first time Bram 
invited me on his show it we 

1625
01:32:52,600 --> 01:32:56,640
went back and we literally 
played tag for like at least six

1626
01:32:56,640 --> 01:33:01,440
months because like literally it
was like he invited me and then 

1627
01:33:01,440 --> 01:33:04,120
I had to cancel because we were 
both having like kids at the 

1628
01:33:04,120 --> 01:33:05,720
same time. 
It was like, it was like kind of

1629
01:33:05,720 --> 01:33:07,880
like it was, it was strange. 
We were both having kids at 

1630
01:33:07,880 --> 01:33:10,080
around the same time. 
The first time I was like, hey, 

1631
01:33:10,080 --> 01:33:12,120
Bram, I'm sorry, I can't. 
It's just like my wife or 

1632
01:33:12,120 --> 01:33:14,280
whatever. 
And then he's like, no worries, 

1633
01:33:14,280 --> 01:33:16,560
we'll reschedule. 
And then the second time he's 

1634
01:33:16,600 --> 01:33:18,240
like, Nico, sorry, you have to 
cancel. 

1635
01:33:18,320 --> 01:33:20,320
So like my wife or like this, 
this and that. 

1636
01:33:20,560 --> 01:33:24,560
And it was like actually like it
took us like 4 times until we 

1637
01:33:24,560 --> 01:33:29,480
actually made, we were able to 
actually record the podcast and 

1638
01:33:29,560 --> 01:33:31,840
we're like 6 months of like back
and forth. 

1639
01:33:31,840 --> 01:33:34,720
But I had a really, really good 
time joining his show. 

1640
01:33:34,720 --> 01:33:37,120
And his questions were 
excellent. 

1641
01:33:37,120 --> 01:33:39,640
And he just didn't talk the 
whole time like I did. 

1642
01:33:40,400 --> 01:33:42,760
So it was a great time. 
So go check it out. 

1643
01:33:42,760 --> 01:33:45,760
Bitcoin for millennials. 
Go follow Bram on X. 

1644
01:33:45,760 --> 01:33:48,480
And Bram, thank you so much for 
joining us on today's show. 

1645
01:33:49,080 --> 01:33:51,040
Cheers guys. 
Thanks for joining us, Stick. 

1646
01:33:51,040 --> 01:33:52,520
Around. 
Stick around backstage for a 

1647
01:33:52,520 --> 01:33:53,920
second, guys. 
We're going to close out the 

1648
01:33:53,920 --> 01:33:55,160
show. 
Like it? 

1649
01:33:56,080 --> 01:33:58,640
Smash the like button, subscribe
and we'll see you tomorrow on 

1650
01:33:58,640 --> 01:34:00,000
the next one. 
Simply Bitcoin Live. 

1651
01:34:00,040 --> 01:34:03,000
Take care, everybody. 
Today's episode was brought to 

1652
01:34:03,000 --> 01:34:06,560
you by bitcoinwell.com, a 
Bitcoin only platform on a 

1653
01:34:06,560 --> 01:34:08,920
mission to enable financial 
independence.