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Yep, welcome to another episode 
of Simply Bitcoin. 

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Like, I've been telling you 
guys, we are transitioning the 

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show to a live show. 
So, because it's live, you're 

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going to see a lot of mistakes, 
but at least you get the 

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authenticity. 
Today, we're going to talk about

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a very interesting topic, 
Michael sailor. 

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Obviously, if you guys haven't 
been living under a rock, 

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Michael sailor CEO of 
microstrategy, step down as CEO 

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so we're going to Some articles 
are going to check out some 

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sweets. 
We're going to talk about the 

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significance of it. 
It noise. 

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Is it signal? 
What? 

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We'll get to it in a little bit.
But first, only very special 

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hello to Simply Bitcoins. 
Co-hosts legendary Optimus 

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fields. 
That has strange Twitter handle 

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of my live in truth. 
I don't know if one has to do 

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with the other but hey, I'm 
digging it. 

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I'm digging it. 
It's my life philosophy Niko. 

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It's My Life philosophy. 
What's up everyone? 

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My hair is a little messed up. 
Up today, I didn't take the BTC 

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sessions hair, you know, control
this morning, but we are here, 

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and we're going to give you guys
a show. 

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So, shout-out to you guys 
listening. 

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Shout out to everyone in the 
chat. 

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This is going to be an awesome 
day. 

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Let's get into it. 
And how are ya? 

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How are ya? 
And to say, hi to some people 

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that are already in the chat. 
Are you doing bacon? 

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How you doing? 
Lucky happy to have you and of 

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course Becca how you doing. 
Good morning Becca. 

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Anyways let's get to the Shall 
we? 

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For Napa Town brought to you by 
not only make some of the best 

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Bitcoin notes like the natto, 
one run, your own version of 

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Bitcoin core. 
The lightning Network whirlpool 

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and Dojo all from the comfort of
your own home. 

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Remember guys, if you don't run 
your own Bitcoin node, you're 

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using someone else's. 
And now, if you're a digital 

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Nomad, you have no excuse 
because you could run a novel 

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node over a virtual private 
server. 

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Anywhere around the world visit 
not all Dottie you. 

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All right at the time of this 
recording the Bitcoin prices at 

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In 290 Sasser, dollar 4290 for 
Bitcoin block height or block 

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height, 747 thousand, eight 
hundred and twenty-five 

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reachable Bitcoin notes. 
Why'd you do that Opti? 

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They like that view better. 
That's they like how many on 

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YouTube. 
Yeah, they like that. 

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Any better? 
What about this one? 

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Boom, boom. 
Tell us in the chat which one 

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you like better? 
Guys screen is smaller. 

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But all right, so Seven hundred 
forty seven thousand, 829 

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reachable Bitcoin, nodes 13,000 
973 percentage issued, 91% 

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blocks, the having 92175 having 
estimate April 19-20, 24, total,

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lightning network capacity. 1312
Bitcoin, that's around 30 

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million. 
U.s. dollars hash rate over the 

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last 90 days, or After 209 X 
hashes and the annual mining 

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Revenue Bitcoins firewall kind 
of fourteen point three billion 

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dollars. 
So anyway, good numbers overall 

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today guys. 
Usually I play some video during

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the number section, but we're 
going to double down on this 

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concept. 
And especially, I think this is,

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especially useful for people 
that are getting into Bitcoin 

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and I have a lot of people that 
are getting to bitcoin that that

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Stumble onto simply Bitcoin and 
they've never heard of these 

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Concepts. 
So I'm going to keep doubling 

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down on them, right? 
Bitcoin is a deflationary 

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currency. 
That means its purchasing power 

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increases over time. 
And if you compare that with 

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Fiat, Fiat is an inflationary 
currency, meaning it loses 

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purchasing power over time. 
And I think that this tweet by 

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documenting Bitcoin, really 
highlights that in 2012, a 

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medium. 
Bitcoin house is And Bitcoin in 

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2013, it's 19,000 Bitcoin in 
2014. 

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It's 351 Bitcoin 2015 901 
Bitcoin 2016 697, Bitcoin 2017 

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323 Bitcoin, Tony 18 to 24 29, 
1984, Bitcoin, 2020, 46, 

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Bitcoin, 2020, 18 Bitcoin 20, 20
to 22 Bitcoin. 

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So yes some here's obviously 
it's not a straight line up. 

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It's volatile but if you zoom 
out it's definitely going in a 

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certain direction. 
Right? 

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Anyways, moving on to this 
visualizes it a little bit 

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different. 
Shout out to Cedric has an 

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awesome podcast, the Bitcoin 
Matrix podcast really, really 

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cool. 
I definitely recommend 

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subscribing to it. 
Anyways house priced and Bitcoin

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is a good visualization in 2017 
would be 125 Bitcoin. 

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And today it would be 20 Bitcoin
even with housing prices. 

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Isis doubling, and last two to 
three years because of all the 

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money printing with Bitcoin. 
If you save over a long period 

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of time, things still get 
cheaper but it's not only hold 

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on. 
Yeah. 

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So it's not only that right here
is a really good. 

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I think representation there's 
seven point, nine billion people

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and there's only 21 million coin
and that number is actually 

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crazy right? 
It's estimated that there's 

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between 47 thousand and sixty 
And millionaires all around the 

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world million millionaires, all 
around the world, but there's 

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only 21 million Bitcoins. 
Meaning if every single 

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millionaire all around planet 
Earth wanted to buy just one 

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Bitcoin, they physically could 
not write. 

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So anyone that says we're still 
early anyone that says, oh 

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Bitcoin is down this year. 
What the f is going on? 

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What I recommend to them is zoom
out. 

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Take a deep breath. 
Zoom out don't use Bitcoin as a 

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speculation use Bitcoin as 
savings technology because that 

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is really where Bitcoin shines 
the most anyways Opti. 

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What are your thoughts? 
Well I really love that 

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infographics that you put 
because I added a similar one to

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the meme review. 
So we are on the same frequency 

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but also I just want to make a 
quick Point, guys, that if you 

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own a bit Line, you are more 
wealthy than Fiat millionaires. 

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So continue to stack SATs out 
there guys because we say it all

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the time there's only 21 million
Bitcoins and you have an 

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opportunity to get one right now
for roughly twenty three 

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thousand dollars. 
I know that's a lot for most 

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people but guys Bitcoin is the 
most scarce asset in the world 

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and as Nico is explaining to you
guys, it's deflationary which 

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means your life gets cheaper on 
the Bitcoin standard. 

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This is the way this is why. 
Why we tell you guys to save in 

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Bitcoin, this is why Bitcoin is 
the peaceful Revolution. 

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It unlocks human capital and 
that's why we're here man, to 

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push that message. 
Let's go Niko bullish bullsh. 

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Anyways, see a lot of people in 
the chat. 

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They kind of want to talk about 
what's going on Sailor. 

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So I'm going to skip it if 
you're new to bitcoin. 

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If you're new to this channel, 
guys use the coin as a savings 

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technology Sailors. 
Absolutely right. 

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When he says there is no second 
best. 

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Anyways, let's get to the news 
Opti. 

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Time for the Daily News brought 
to you by crypto quotes.com they

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make some of the best 3D printed
Bitcoin merch. 

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Like the famous 3D printed 
Bitcoin grenade. 

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Toy comes in any custom color, 
your heart desires. 

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This just happens to be in 
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Bitcoin colors, or what if you 
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that's right, he makes it in 
Gold. 

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Any custom color. 
Definitely go check out crypto 

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You can take advantage of the 

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Now, open check out crypto, 

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cloaks.com. 
All right. 

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So this just came out recently 
actually came out yesterday This

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is the official press release 
than we'll get to some Nico 

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Jones type of, you know, 
perspective or opinion. 

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So first, Michael Cera to assume
the role of executive, chairman 

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and phone, Lee Hong Lei to serve
as CEO, or as also known as 

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chief executive officer. 
So Bloomberg article released 

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and it covers it you know, in 
very in depth. 

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So I'm going to read some of it.
It's only a two minute article 

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ways microstrategy co-founder A 
sailor gave up his chief 

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executive offered officer title 
and said, he'll focus more on 

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bitcoin. 
After the enterprise software 

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maker reported a loss of more 
than 1 billion US Dollars. 

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And that's the part that I want 
you guys to focus on. 

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We're not a hope IAM Channel. 
We never claimed to be a ho p.m.

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channel. 
We tried to bring you the signal

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and Optics matter the way that 
people perceive things matter. 

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Okay. 
So I'm going to that last part. 

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After the enterprise software 
maker, reported a loss of more 

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than 1 billion dollars. 
And that's when Michael sailor 

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step down, anyways, 
microstrategy president Fang Li 

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will take on the executive, the 
chief executive role. 

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As Global adoption of digital 
assets accelerates is becoming 

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an Ever more expensive job and 
I'm comfortable increasing the 

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scope of my advocacy efforts 
know, knowing that the execution

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of micro strategies business 
plan rest in the capable hands 

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of phone. 
Now, Here's the thing guys, is 

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that a positive spin? 
Because obviously Michael sailor

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isn't going to talk about, you 
know, his company in a negative 

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light because that obviously 
would affect stockholders. 

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I'll be honest with you guys. 
I kind of had a feeling about 

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this and if you see the episode 
that I did, it's the interview 

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series of Simply Bitcoin and I 
recorded it with James lavish, 

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Jeff Foss and Jo, Jeff Ross, I 
was looking at microstrategy 

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stock place. 
In fact, I think I pulled it up 

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on the show and I asked James 
lavish, is Michael sailor and 

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trouble here. 
And I remember what James said. 

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He basically told me he's like, 
look, he's been very public 

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about his strategy. 
So, anybody buying the 

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microstrategy stock would know 
what? 

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Exactly they're getting 
themselves into. 

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I'm not saying it's correlated 
the poor performance of 

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microstrategy, obviously the 
whole macro. 

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Iron Man is not that great 
either, right? 

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You know, the FED did taper off 
the money printer and obviously 

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that's going to affect asset 
prices. 

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Anyways, microstrategy took a 
nine hundred and Seventeen 

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million dollar impairment charge
related to the decline in the 

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value of the Bitcoin, it holds 
Bitcoin, tumbled, 59% in the 

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quarter and treated about 45 
percent lower than the price. 

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At the end of the year earlier 
Revenue dropped to 22 million 

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dollars analysts polled by 
Bloomberg expect did Revenue. 

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123 million revenue is actually 
down compared to what analysts 

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predicted next quarterly losses 
of 1.06. 

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Two billion dollars compared 
with a loss of 299 million in 

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the same quarter of last year. 
The quarterly law is almost 

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exactly twice the company's 
Revenue in the last 12 months. 

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I'm gonna read that again. 
The quarterly loss is almost 

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exactly. 
Twice, the company's Revenue in 

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the last 12 months, 
microstrategy's original 

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00:12:17,200 --> 00:12:21,500
microstrategy's, original 
strategy, a strategy strategy, 

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there we go. 
Sorry, my tongue got cut up and 

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Consulting business needs. 
Full-time. 

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00:12:26,000 --> 00:12:31,400
Attention said Henry, Elder head
of decentralized as Finance at 

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00:12:31,400 --> 00:12:36,000
way Financial rephrase, that 
head of centralized shit coin 

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00:12:36,000 --> 00:12:37,700
Finance at way Financial 
anyways. 

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Now, Michael can focus on what 
he does. 

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Best promoting Bitcoin and the 
company could Focus on making 

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00:12:43,400 --> 00:12:46,200
more money to buy more Bitcoin. 
They are basically doubling 

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down. 
I like that perspective. 

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It's an optimistic perspective 
but I'll say this guy's Michael 

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Cera, made his bet. 
There is no pulling back so he 

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has no other option but to move 
forward and I'll say one other 

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thing. 
And I tweeted this, when we had 

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the initial price going down in 
Bitcoin, everyone has to pay 

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00:13:07,100 --> 00:13:09,300
their dues at the end of the 
day. 

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00:13:09,600 --> 00:13:12,000
Michael sailor, even though he 
has a lot more. 

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00:13:12,200 --> 00:13:16,500
Capital to invest Opti and I 
we've been in Bitcoin longer. 

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00:13:16,500 --> 00:13:18,900
We've paid our dues, we've 
survived the bear Market. 

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I got in 2016, I think Opti got 
in 2017. 

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Sailor got in 2020, right? 
So he's just starting to pay his

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dues. 
And what I tell everybody is you

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got to survive a full cycle, a 
full cycle, and Bitcoin roughly.

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00:13:33,400 --> 00:13:36,600
There's a having every four 
years, you survived a full 

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00:13:36,600 --> 00:13:40,400
cycle, then you start to feel 
the benefits regardless of when 

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00:13:40,400 --> 00:13:43,700
you got in, right? 
So, So yeah, Michael Taylor is 

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still paying his dues and that's
why he's down on his Bitcoin 

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00:13:47,100 --> 00:13:51,500
investment, but the reason it 
is, there's so much noise around

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00:13:51,500 --> 00:13:55,600
this is because the amount of 
money he was able to put into 

229
00:13:55,600 --> 00:13:59,800
Bitcoin and on top of the loans 
that he was able to successfully

230
00:13:59,800 --> 00:14:06,100
leveraged his, his his company 
to get more loans, right to, you

231
00:14:06,108 --> 00:14:09,000
know, to have more purchasing 
power to buy even more Bitcoin, 

232
00:14:09,100 --> 00:14:11,400
right? 
That's why it made such a big 

233
00:14:11,400 --> 00:14:14,000
boom. 
It made it made, it was it was, 

234
00:14:14,000 --> 00:14:17,100
it was headline news but at the 
end of the day, you guys have to

235
00:14:17,100 --> 00:14:20,700
understand something. 
Michael sailor and El Salvador 

236
00:14:20,700 --> 00:14:24,100
and nine buchelli are still 
paying their dues. 

237
00:14:24,200 --> 00:14:28,400
Both those guys are going to 
look like absolute genius has 

238
00:14:28,700 --> 00:14:30,700
four years from now. 
Well, they really have two three

239
00:14:30,700 --> 00:14:33,400
years left, right? 
They're going to look like studs

240
00:14:33,500 --> 00:14:36,200
and I think that's when you're 
really going to start to see 

241
00:14:36,200 --> 00:14:39,700
other public companies, go in, 
perhaps you'll start to see 

242
00:14:39,700 --> 00:14:42,600
other nations, right? 
Start putting On the balance 

243
00:14:42,600 --> 00:14:46,000
sheet, start making it legal 
tender but right now they look 

244
00:14:46,000 --> 00:14:47,600
stupid and the reason they look 
stupid. 

245
00:14:47,600 --> 00:14:50,700
Remember when you first started 
your Bitcoin Journey, unless you

246
00:14:50,700 --> 00:14:52,900
timed it. 
Exactly right. 

247
00:14:53,100 --> 00:14:56,800
That's not most people, you look
stupid, whether that was to your

248
00:14:56,800 --> 00:15:00,600
girlfriend, whether that was to 
your family, they are still 

249
00:15:00,600 --> 00:15:02,500
paying their dues. 
And that's all right. 

250
00:15:02,600 --> 00:15:06,000
Anyways, as of June 30th, the 
carrying value of the company's 

251
00:15:06,000 --> 00:15:11,800
129,000 699 Bitcoins was was, 
did he do that 699 on? 

252
00:15:12,100 --> 00:15:13,300
Is that's funny. 
What? 

253
00:15:13,300 --> 00:15:16,100
One point nine, eighty eight 
billion, the company said 

254
00:15:16,100 --> 00:15:19,600
reflecting the cumulative 
impairment loss of one point, 

255
00:15:19,600 --> 00:15:23,300
nine eight, nine billion. 
The cumulative amount is now 

256
00:15:23,300 --> 00:15:27,500
more than Bitcoin on the 
company's balance sheet, so 

257
00:15:29,200 --> 00:15:32,100
Very, very tough article by 
Bloomberg. 

258
00:15:32,100 --> 00:15:35,100
Anyways, let's, I'm not going to
give it one side, obviously. 

259
00:15:35,100 --> 00:15:37,700
I'm going to, you know, be 
neutral here and try to cover 

260
00:15:37,700 --> 00:15:40,800
both perspectives. 
This is Sailors tweet by the 

261
00:15:40,800 --> 00:15:43,900
way, he's right on. 
This says, since adopting a 

262
00:15:43,900 --> 00:15:48,100
Bitcoin strategy microstrategy 
has out performed every asset 

263
00:15:48,100 --> 00:15:50,600
class and big Tech stock, and 
here's a really good 

264
00:15:50,600 --> 00:15:55,100
visualization that sailor posted
said, since microstrategy 

265
00:15:55,100 --> 00:15:58,400
adopted a Bitcoin strategy. 
Its Enterprise Value is up 

266
00:15:58,400 --> 00:16:01,800
seven. 
Nerd and 30% and microstrategy 

267
00:16:01,800 --> 00:16:07,600
is up, 130 and sorry. 123 
percent performance of Bitcoin 

268
00:16:07,600 --> 00:16:16,500
is 94% sp5, S&P 500, 23% NASDAQ 
13 percent gold down, 13% bonds 

269
00:16:16,500 --> 00:16:22,300
down 14% so in a way his 
strategy seems to be working but

270
00:16:22,300 --> 00:16:27,000
anyways here is George come on 
he's a pretty big YouTuber I 

271
00:16:27,008 --> 00:16:28,700
think is like 400,000 
subscribers. 

272
00:16:29,500 --> 00:16:32,300
And I really had the same 
initial reaction. 

273
00:16:32,300 --> 00:16:36,200
The reason for that. 
Is this the Sailor stepping down

274
00:16:36,200 --> 00:16:39,900
as CEO? 
I was questioning it leading up 

275
00:16:39,900 --> 00:16:43,400
to this. 
I was like dude like he 

276
00:16:43,400 --> 00:16:46,800
technically put his company in a
pickle with this Bitcoin bet and

277
00:16:46,800 --> 00:16:49,100
because it is a public company. 
Perhaps there's a lot of 

278
00:16:49,100 --> 00:16:52,800
pressure and I think George 
asked a really good question. 

279
00:16:52,800 --> 00:16:56,800
He says, how does buying more 
Bitcoin require Focus? 

280
00:16:56,900 --> 00:16:58,200
Right? 
And he's questioning the 

281
00:16:58,200 --> 00:17:00,000
Bitcoin. 
In shout out to our friends at 

282
00:17:00,000 --> 00:17:02,400
Bitcoin mag, the Bitcoin 
magazine tweet that says, 

283
00:17:02,400 --> 00:17:05,200
microstrategy's, new CEO said 
that they won't be selling 

284
00:17:05,200 --> 00:17:08,000
Bitcoin micro. 
Sally Michaels sailor is now 

285
00:17:08,000 --> 00:17:11,500
focusing a company accumulating 
more Bitcoin, well done. 

286
00:17:12,000 --> 00:17:15,400
And George says, particularly 
something that I asked like, 

287
00:17:15,800 --> 00:17:19,800
wasn't he doing that? 
Anyways, and then he goes on to 

288
00:17:19,800 --> 00:17:22,099
say, just went over this 
quarter's numbers, I'm no 

289
00:17:22,099 --> 00:17:24,700
accountant. 
But my spit coin looks like the 

290
00:17:24,700 --> 00:17:28,400
business basically broke even 
has 60 million in cash. 

291
00:17:28,500 --> 00:17:31,100
And Debt Service payment of 13 
million quarterly. 

292
00:17:31,100 --> 00:17:34,700
If I owned this business, this 
would make me very uneasy. 

293
00:17:34,700 --> 00:17:36,600
Did anyone else review the 
numbers? 

294
00:17:36,600 --> 00:17:41,600
Look at gross profit versus Opex
- Bitcoin paper loss business 

295
00:17:41,600 --> 00:17:44,900
made no money to service debt. 
If that continues The Debt 

296
00:17:44,900 --> 00:17:48,800
Service will be paid from cash, 
but the 69 million won't last 

297
00:17:48,800 --> 00:17:51,300
long. 
Not sure how it plays out. 

298
00:17:51,500 --> 00:17:54,800
If they have to start selling 
Bitcoin to cover expenses, you 

299
00:17:54,800 --> 00:17:58,000
never look, I might not have 
billions of dollars like Michael

300
00:17:58,000 --> 00:18:01,600
sailor, but Tell you something. 
Once you start selling Bitcoin 

301
00:18:01,600 --> 00:18:05,600
to cover expenses it's terrible 
freaking feeling. 

302
00:18:05,600 --> 00:18:07,200
You never want to be put in that
position. 

303
00:18:09,000 --> 00:18:13,000
So obviously for our audio 
listeners, George has a really 

304
00:18:13,000 --> 00:18:17,000
great screenshot and he, you 
know, he covers the breakdown of

305
00:18:17,000 --> 00:18:21,100
the numbers. 
So, if you're listening to the 

306
00:18:21,100 --> 00:18:23,400
video, you can see it. 
If you're listening to the audio

307
00:18:23,400 --> 00:18:26,500
version, we always put the, you 
know, the our sources down the 

308
00:18:26,500 --> 00:18:28,900
lens description. 
But from what I'm seeing, I 

309
00:18:28,900 --> 00:18:31,200
think George is right. 
And again at the end of the day,

310
00:18:31,300 --> 00:18:33,800
microstrategy is a public 
company so they have to be 

311
00:18:33,800 --> 00:18:38,700
transparent with their numbers. 
Now all that being said, let me 

312
00:18:38,700 --> 00:18:42,500
address the title of the video. 
Does this affect Bitcoin if 

313
00:18:42,500 --> 00:18:45,000
you're hot Oiler? 
Absolutely not honey. 

314
00:18:45,000 --> 00:18:48,500
Patrick does not care. 
Could it affect Bitcoin in the 

315
00:18:48,700 --> 00:18:54,800
term terms of price? 
Absolutely, especially if this 

316
00:18:54,800 --> 00:18:58,700
downturn isn't done yet, 
especially if we visit the 1514,

317
00:18:58,900 --> 00:19:02,700
Scene, 12 K region again, 
definitely more pressure 

318
00:19:02,700 --> 00:19:05,900
mounting up on him. 
We know that he lowered down his

319
00:19:05,900 --> 00:19:08,100
Margin Call. 
But look at the end of the day, 

320
00:19:09,100 --> 00:19:12,200
like all of us, bitcoiners we go
all-in, right? 

321
00:19:12,200 --> 00:19:14,200
I've been all in for a very long
time. 

322
00:19:14,200 --> 00:19:17,800
Now, Opti is to, we burnt, the 
ship's, there is no turning 

323
00:19:17,800 --> 00:19:22,500
back, Michael sailor, did just 
that and he put his company's 

324
00:19:22,500 --> 00:19:28,700
future behind the future of 
Bitcoin him stepping down. 

325
00:19:28,800 --> 00:19:31,400
Down at this time, looks very 
bad. 

326
00:19:31,400 --> 00:19:36,600
On an from an optic perspective 
and will this affect the price 

327
00:19:36,600 --> 00:19:39,400
look? 
If Michael, if microstrategy 

328
00:19:39,400 --> 00:19:44,300
capitulates get ready to stack 
some cheap SATs, I don't think 

329
00:19:44,300 --> 00:19:47,500
they will because they've burnt 
the bridges like the rest of us.

330
00:19:47,500 --> 00:19:51,400
There is no going back. 
He put his his his his 

331
00:19:51,400 --> 00:19:55,400
reputation online. 
He put his company's future on 

332
00:19:55,400 --> 00:19:58,700
the line. 
Do I believe him? 

333
00:19:58,900 --> 00:20:04,100
This reasoning as to yes I'm 
stepping down to you know deal 

334
00:20:04,100 --> 00:20:08,000
with getting convincing more 
public companies to adopt 

335
00:20:08,000 --> 00:20:13,800
Bitcoin use Bitcoin 75%. 
That's my opinion. 

336
00:20:13,900 --> 00:20:16,100
You're not going to hear that 
from another Bitcoin channel. 

337
00:20:16,200 --> 00:20:19,700
It's they won't tell you that 
but that's goes opinion. 

338
00:20:21,400 --> 00:20:24,700
So yeah, this is a interesting 
stuff. 

339
00:20:24,800 --> 00:20:27,500
He's paying his dues, his 
earning, his stripes, this is 

340
00:20:27,500 --> 00:20:31,500
absolutely normal. 
She been in Bitcoin a while and 

341
00:20:31,500 --> 00:20:35,000
look if he manages to hold on, 
like everyone, especially if you

342
00:20:35,000 --> 00:20:40,100
got into mining last two years. 
If you manage to hold on to, you

343
00:20:40,100 --> 00:20:43,700
know, the next having 2024, 
historically the price tends to 

344
00:20:43,700 --> 00:20:45,700
go to your after even though 
not. 

345
00:20:45,700 --> 00:20:47,700
That's not a sure thing, we 
don't like to speculate. 

346
00:20:47,800 --> 00:20:52,600
So really 2025, Michael sailor 
named bouquet lay, basically 

347
00:20:52,600 --> 00:20:56,100
anybody that got into Bitcoin 
out you will be greatly 

348
00:20:56,200 --> 00:20:58,700
rewarded, how do I know that 
because it's happened? 

349
00:20:59,000 --> 00:21:02,400
Every other goddamn psycho. 
And the way that Bitcoin is 

350
00:21:02,408 --> 00:21:06,000
designed it's literally it's a 
binary thing Bitcoin you to the 

351
00:21:06,008 --> 00:21:12,200
goes to zero or goes up forever.
Keep in mind, there is no limit 

352
00:21:12,200 --> 00:21:15,300
to how much Fiat money, can can 
exist, right? 

353
00:21:15,300 --> 00:21:18,300
There's no limit to how much 
dollars can exist, but there 

354
00:21:18,300 --> 00:21:22,100
will only ever be 21 million 
Bitcoins. 

355
00:21:22,200 --> 00:21:25,700
So yeah, I think New Testament 
has that great meme 21 million 

356
00:21:25,700 --> 00:21:31,500
divided by Infinity. 
Anyways, Opti, big, Michael 

357
00:21:31,500 --> 00:21:34,400
Sailors, sweating brother, you 
think he's sweating what's going

358
00:21:34,400 --> 00:21:37,200
on over there? 
Well, we know what Michael 

359
00:21:37,200 --> 00:21:39,100
sailor thinks. 
What's the second best? 

360
00:21:39,100 --> 00:21:42,500
There is Second best. 
So I don't think sailor is 

361
00:21:42,500 --> 00:21:46,400
sweating in this regard. 
I would go with what you're 

362
00:21:46,400 --> 00:21:47,800
saying. 
I think this is more of an 

363
00:21:47,800 --> 00:21:53,100
Optics play that, you know, the 
company, the company lost on 

364
00:21:53,100 --> 00:21:59,000
paper, a lot of money, and they 
have to definitely make it seem 

365
00:21:59,000 --> 00:22:01,100
like they aren't as rekt as they
are. 

366
00:22:01,100 --> 00:22:03,200
Maybe. 
So I see this. 

367
00:22:03,200 --> 00:22:06,600
I thought this was bullish 
because I like the meme of like 

368
00:22:06,600 --> 00:22:10,600
Bitcoin brain drain is real. 
So if Michael sailor is no 

369
00:22:10,600 --> 00:22:15,000
longer the CEO of microstrategy,
maybe he will be able to do a 

370
00:22:15,000 --> 00:22:19,200
lot more Bitcoin evangelism and 
say a little more of what he 

371
00:22:19,200 --> 00:22:21,700
actually believes because he's 
not the head of the company 

372
00:22:21,700 --> 00:22:25,600
doesn't have to deal with all 
the, you know, the I don't know,

373
00:22:25,600 --> 00:22:28,500
the red tape of being a CEO of a
big company. 

374
00:22:28,800 --> 00:22:31,600
And so I think this is going to 
be bullish because I mean, he's 

375
00:22:31,600 --> 00:22:35,000
a great evangelist when it comes
to bitcoin but like you are 

376
00:22:35,000 --> 00:22:38,300
saying, it definitely doesn't 
look good for the company. 

377
00:22:38,300 --> 00:22:41,700
I checked out the stock Price 
and hey, it kind of looks like a

378
00:22:41,708 --> 00:22:43,400
shit coin. 
I'm not going to lie, it looks 

379
00:22:43,400 --> 00:22:48,400
like shit coin being traded, so 
it's obviously doesn't look 

380
00:22:48,400 --> 00:22:51,600
good. 
If you are a shareholder or 

381
00:22:51,600 --> 00:22:55,000
someone in charge of this 
company because, you know, no 

382
00:22:55,000 --> 00:22:57,100
one likes to lose money. 
And even though most of the 

383
00:22:57,100 --> 00:23:02,800
shareholders were on board with 
the initial mission of Bitcoin, 

384
00:23:03,100 --> 00:23:05,300
everyone gets tested like you're
saying, Nico. 

385
00:23:05,300 --> 00:23:09,700
So if they weren't prepared to 
go through a full cycle, Oil and

386
00:23:09,700 --> 00:23:12,800
now they're feeling the pain of 
losing money on paper. 

387
00:23:12,800 --> 00:23:17,700
You know, they got to do 
something so that they can do a 

388
00:23:17,700 --> 00:23:20,300
PR spin on this and and maybe 
this is what it is. 

389
00:23:20,300 --> 00:23:23,500
Maybe not I honestly, this is 
not my forte. 

390
00:23:23,500 --> 00:23:29,700
All I can say is man as someone 
that is going all in on bitcoin,

391
00:23:29,700 --> 00:23:33,700
I think this is going to be 
bullish because if sailor comes 

392
00:23:33,700 --> 00:23:38,700
out hard and just starts doing 
some real real deep diving down 

393
00:23:38,700 --> 00:23:41,600
the rabbit hole. 
All Bitcoin evangelism like it's

394
00:23:41,600 --> 00:23:44,200
going to be so bullish for 
everyone but also, you know, 

395
00:23:44,600 --> 00:23:47,400
hey, I don't know exactly what's
going on over there at the 

396
00:23:47,400 --> 00:23:49,700
company. 
I am just a Bitcoin and everyday

397
00:23:49,700 --> 00:23:52,700
Bitcoin. 
ER, that's he's a billionaire 

398
00:23:52,700 --> 00:23:56,000
buying Bitcoin and of course 
we're always just thinking just 

399
00:23:56,000 --> 00:23:58,200
pump our bags baby. 
There's not too many 

400
00:23:58,200 --> 00:24:02,200
billionaires here so would it be
bad if he capitulated? 

401
00:24:02,200 --> 00:24:04,900
I mean, in the short term? 
Yeah, we would get cheap sets 

402
00:24:05,400 --> 00:24:07,900
and the long-term I don't think 
it really matters, Honey, 

403
00:24:07,900 --> 00:24:09,200
Badger. 
Don't Give A f---. 

404
00:24:09,300 --> 00:24:12,300
AF. 
So we shall see what this does 

405
00:24:12,300 --> 00:24:15,100
for for the public perception of
Bitcoin. 

406
00:24:15,100 --> 00:24:19,300
Because obviously the normies 
out there if they see Michael 

407
00:24:19,300 --> 00:24:23,400
sailor capitulate, it's not 
going to do good for for the the

408
00:24:23,400 --> 00:24:26,600
story that we tell about Bitcoin
and what we believe. 

409
00:24:26,900 --> 00:24:29,500
And like we said, we're not here
to speculate about the price 

410
00:24:29,500 --> 00:24:32,400
because we know 21 million 
Bitcoins there. 

411
00:24:32,400 --> 00:24:35,500
Seven point eight billion, 
people just do the 11th grade 

412
00:24:35,500 --> 00:24:39,700
math and the more people Stacks 
at the more number goes, Up and 

413
00:24:39,700 --> 00:24:42,700
freedom goes up with it. 
So does this matter? 

414
00:24:42,700 --> 00:24:44,300
Probably not. 
Is this noise. 

415
00:24:44,300 --> 00:24:47,800
It kind of it kind of feels like
to me does matter if you're ever

416
00:24:47,800 --> 00:24:52,300
and it does matter if you do 
against our advice and not stay 

417
00:24:52,300 --> 00:24:56,000
humble Stacks at Santiago, yes, 
I think that's a big Granite 

418
00:24:56,000 --> 00:24:59,200
rate it if you're trying to 
trade it and all that this will 

419
00:24:59,400 --> 00:25:03,800
affect you but if you stay 
humble Stacks at stake, it into 

420
00:25:03,800 --> 00:25:07,400
Cold Storage long time, 
preference that you literally 

421
00:25:07,400 --> 00:25:10,800
have nothing to worry about. 
But anyway, because I think hold

422
00:25:10,800 --> 00:25:14,200
on before you go. 
I think this just to add to your

423
00:25:14,200 --> 00:25:17,800
point of stay humble Stacks at 
guys, do you remember how he got

424
00:25:17,800 --> 00:25:20,100
all the Bitcoin? 
It was a lot of leveraging of 

425
00:25:20,100 --> 00:25:23,700
debt and we tell you the 
individual to stay humble Stacks

426
00:25:23,700 --> 00:25:26,400
ads because you don't want to 
get in this position eventually 

427
00:25:26,400 --> 00:25:29,000
guys. 
So, just a little tidbit for us 

428
00:25:29,200 --> 00:25:32,000
average, bitcoiners out there, 
do not over leverage yourself 

429
00:25:32,000 --> 00:25:33,600
guys because it doesn't feel 
good. 

430
00:25:33,600 --> 00:25:36,200
Even if you know where the prize
is going, sometimes you get 

431
00:25:36,200 --> 00:25:38,900
overly bullish, and you got to 
sell Bitcoin. 

432
00:25:38,900 --> 00:25:41,500
When you Want to and you don't 
want to be in that position. 

433
00:25:41,900 --> 00:25:43,800
Exactly. 
So I'm going to read they were 

434
00:25:43,800 --> 00:25:46,300
so much signal in the comments. 
I'm going to read some of them. 

435
00:25:47,200 --> 00:25:51,000
This was 8, he says he's not 
treated his position, he accepts

436
00:25:51,000 --> 00:25:53,900
the volatility. 
Nobody buys an absolute bottom. 

437
00:25:53,900 --> 00:25:56,100
His risk management is 
absolutely fine. 

438
00:25:56,300 --> 00:25:58,700
Look forward to his increase 
advocacy efforts. 

439
00:25:59,500 --> 00:26:01,400
That's a very spot positive 
spin. 

440
00:26:01,400 --> 00:26:05,000
My dude, at the end of the day, 
he's down but billion dollars, 

441
00:26:05,000 --> 00:26:06,900
right? 
Like we all were when we, you 

442
00:26:06,900 --> 00:26:10,200
know, when we obviously know 
not, Not all of us have a 

443
00:26:10,200 --> 00:26:12,900
billion dollars, but we were 
down relatively to when we 

444
00:26:12,900 --> 00:26:15,400
started. 
Because dude, most people don't 

445
00:26:15,400 --> 00:26:17,200
time getting into Bitcoin 
correctly. 

446
00:26:17,300 --> 00:26:19,900
Most people get into Bitcoin 
when it's in the Mania phase 

447
00:26:19,900 --> 00:26:22,300
which is why most people get 
attracted to it. 

448
00:26:23,500 --> 00:26:25,900
Here is clout. 
Casino says, the magic word, 

449
00:26:25,900 --> 00:26:30,200
kids is leverage low. 
It's a bad word now, real tacos,

450
00:26:30,200 --> 00:26:33,700
he says gamma is a long time. 
I'll buy Bitcoin and Falls 220k,

451
00:26:33,800 --> 00:26:36,400
but of course he didn't. 
Yeah, maybe he's just salty. 

452
00:26:36,400 --> 00:26:39,100
That's a good point. 
Here we go. 

453
00:26:40,000 --> 00:26:43,100
Narwhal Taco says microstrategy 
buy Bitcoin to buy. 

454
00:26:43,100 --> 00:26:45,500
I don't believe there's any 
signal here. 

455
00:26:45,600 --> 00:26:47,900
Ah that sucks, man. 
Well I'm sorry, we'll do it. 

456
00:26:47,900 --> 00:26:49,600
We'll try to do better. 
Anyways. 

457
00:26:49,600 --> 00:26:53,800
Here is Elaine says, watch 
Bitcoin mag sailor, output with 

458
00:26:53,800 --> 00:26:57,500
the new CEO, CFO and chair of 
the board and Chief. 

459
00:26:59,700 --> 00:27:04,300
And we got Tuck TV. 
Guy says, I'll take cheap SATs 

460
00:27:04,300 --> 00:27:06,200
all day. 
Gotta build right now. 

461
00:27:06,300 --> 00:27:10,900
Awesome, awesome. 
And here, we got Dwan tison. 

462
00:27:10,900 --> 00:27:13,500
He says he has a business 
Network. 

463
00:27:13,500 --> 00:27:16,300
That's the pleb that this pleb 
does not. 

464
00:27:16,300 --> 00:27:18,800
It's true, it's true. 
Michael sailor has that that 

465
00:27:18,800 --> 00:27:23,900
machine behind. 
Okay, anyways, let's move on to 

466
00:27:24,200 --> 00:27:29,300
the next piece of news. 
Let's check it out again, it's 

467
00:27:29,300 --> 00:27:32,300
noise. 
But if you break it down, it 

468
00:27:32,300 --> 00:27:35,700
really signifies what we've been
saying right over the last 

469
00:27:35,700 --> 00:27:38,800
couple of last couple of weeks 
guys. 

470
00:27:38,800 --> 00:27:42,300
Remember We are number one 
source for the Bitcoin 

471
00:27:42,300 --> 00:27:44,700
Revolution. 
We are going to try to break 

472
00:27:44,700 --> 00:27:50,300
down and cover government's 
futile attempt at maintaining 

473
00:27:50,300 --> 00:27:53,900
control and power over their 
people through controlling, 

474
00:27:54,000 --> 00:27:57,300
through through, having a 
monopoly on money and 

475
00:27:57,300 --> 00:28:00,200
controlling people through 
monetary policy. 

476
00:28:00,200 --> 00:28:03,600
Anyways, let's check this out. 
And let me before I do this, I'm

477
00:28:03,600 --> 00:28:07,100
going to, I'm going to preface 
this with a quote from a 

478
00:28:07,100 --> 00:28:10,800
must-read book for joiners and 
something that I'm going to keep

479
00:28:10,800 --> 00:28:16,200
referencing as clown World 
continues anyways since it since

480
00:28:16,200 --> 00:28:18,900
it will become obvious that 
information Technologies. 

481
00:28:18,900 --> 00:28:22,300
Facilitate the Escape of 
sovereign individuals from the 

482
00:28:22,300 --> 00:28:25,200
power of the state and the 
reaction to the collapse of 

483
00:28:25,200 --> 00:28:30,400
compulsion will also include a 
neo-luddite attack on these new 

484
00:28:30,400 --> 00:28:36,200
technologies and those who use 
them that being said, check out 

485
00:28:36,200 --> 00:28:42,100
this article UK crypto investors
Limit Holdings, Financial 

486
00:28:42,100 --> 00:28:46,100
regulator, says investment 
glasses should be capped with 

487
00:28:46,100 --> 00:28:49,400
consumers warmed that they could
lose all their money. 

488
00:28:49,400 --> 00:28:52,800
Remember guys they are taking 
advantage of the recent 

489
00:28:52,800 --> 00:28:58,000
downturn, the recent blow-ups by
those shit, coin companies and 

490
00:28:58,000 --> 00:29:02,000
here comes the state saying it's
for your protection, but we want

491
00:29:02,000 --> 00:29:05,900
a cap, you with the amount of 
wealth that you could Escape 

492
00:29:05,900 --> 00:29:08,300
inflation. 
With just very similar language 

493
00:29:08,300 --> 00:29:10,400
member connect the dots. 
Guys, this is happening 

494
00:29:10,400 --> 00:29:12,300
everywhere. 
Remember what Elizabeth Warren 

495
00:29:12,300 --> 00:29:16,500
said about the forward 401K a 
little bit of a warrant 

496
00:29:16,800 --> 00:29:20,600
basically wants to say, listen, 
you're not allowed to invest in 

497
00:29:20,600 --> 00:29:22,600
Bitcoin. 
What is she afraid of, what is 

498
00:29:22,600 --> 00:29:26,000
the UK, Financial conduct 
Authority, really afraid of? 

499
00:29:26,400 --> 00:29:28,800
And the beginning, I used to 
have a benefit of the doubt. 

500
00:29:28,800 --> 00:29:31,600
I use this, I just said, look, 
you know, maybe they just, they 

501
00:29:31,600 --> 00:29:35,400
just want what's best for us. 
But, Max Keiser has this amazing

502
00:29:35,400 --> 00:29:37,900
day? 
Says Bitcoin exposes they 

503
00:29:37,900 --> 00:29:41,700
egomaniacs bit. 
And exposes everyone's 

504
00:29:41,700 --> 00:29:43,600
incentives. 
And these governments, these 

505
00:29:43,600 --> 00:29:48,700
politicians are no different. 
We want people to be able to 

506
00:29:48,700 --> 00:29:51,300
invest with confidence, 
understand the risk involved and

507
00:29:51,300 --> 00:29:54,000
get the Investments that are 
right for them, which reflect 

508
00:29:54,000 --> 00:29:56,200
their appetite for risk. 
That sounds so nice. 

509
00:29:56,200 --> 00:29:58,600
You know, you like all these 
people have our back, right? 

510
00:29:59,100 --> 00:30:01,800
Of course, when the bull markets
going on crickets, you don't 

511
00:30:01,800 --> 00:30:05,300
hear anything from them, then 
they're kind of focusing on it's

512
00:30:05,300 --> 00:30:07,500
for terrorism. 
It's for money laundering. 

513
00:30:08,600 --> 00:30:16,200
Anyways, oh, we got Solomon. 
He says F the FCA Anyway, it's 

514
00:30:17,300 --> 00:30:19,900
where we see products being 
marketed that don't contain the 

515
00:30:19,900 --> 00:30:22,800
right race warnings or are 
unclear unfair misleading. 

516
00:30:22,800 --> 00:30:26,600
We will act and this is what we 
say that the shit coins man and 

517
00:30:26,600 --> 00:30:30,500
their projects and all the scams
give Bitcoin a bad name. 

518
00:30:31,200 --> 00:30:35,000
Anyways, the signal is literally
in the last paragraph qualifying

519
00:30:35,000 --> 00:30:39,000
crypto assets are one likely to 
be appropriate for consumers as 

520
00:30:39,000 --> 00:30:41,700
a small part of a diversified 
portfolio. 

521
00:30:41,800 --> 00:30:44,200
Should only be accessed when 
consumers? 

522
00:30:44,300 --> 00:30:47,700
And the risks involve, the 
document said, adding the 

523
00:30:47,700 --> 00:30:52,700
exposure should be limited to 
ten percent of net assets. 

524
00:30:53,400 --> 00:30:57,100
It's actually really funny 
because in Russia, you know, 

525
00:30:57,108 --> 00:30:59,500
everyone was celebrating psycho.
You know, they're passing 

526
00:30:59,500 --> 00:31:03,300
regulations but one of the 
regulations is limit the 

527
00:31:03,300 --> 00:31:05,300
exposure that people can get to 
bitcoin. 

528
00:31:05,300 --> 00:31:09,000
They tried to implement Capital 
controls, it was stuck at 3,000 

529
00:31:09,000 --> 00:31:13,000
in Russia in the UK. 
You start to see the same kind 

530
00:31:13,000 --> 00:31:17,600
of type of bargaining. 
Governments are experiencing the

531
00:31:17,608 --> 00:31:20,200
stages of denial. 
They don't understand. 

532
00:31:20,200 --> 00:31:24,000
They don't know how to make this
go away, which is why the 

533
00:31:24,000 --> 00:31:27,900
passage from the sovereign 
individual is so useful because 

534
00:31:27,900 --> 00:31:30,700
it covers. 
What the hell is going on? 

535
00:31:33,100 --> 00:31:35,400
Since it was it since it will be
obvious that information 

536
00:31:35,400 --> 00:31:38,700
Technologies, facilitate the 
Escape of sovereign individuals 

537
00:31:38,700 --> 00:31:42,000
from the power of the state. 
The reaction to the collapse of 

538
00:31:42,000 --> 00:31:46,600
compulsion will also include 
neo-luddite attack on these new 

539
00:31:46,600 --> 00:31:49,400
technologies and those who use 
them. 

540
00:31:50,500 --> 00:31:54,200
Think about the climate the 
climate fund on Bitcoin mining 

541
00:31:54,200 --> 00:31:57,500
energy use think about the kyc 
attacks. 

542
00:31:57,500 --> 00:32:02,200
Think about the framing calling 
hosted wallet son, hosted 

543
00:32:02,200 --> 00:32:04,300
wallets this. 
Cavallari that was never in the 

544
00:32:04,300 --> 00:32:07,900
white paper. 
Yeah man, this is the beginning.

545
00:32:07,900 --> 00:32:11,200
This is the first ending when it
becomes apparent, I'm going to 

546
00:32:11,208 --> 00:32:14,000
tie this up, we are talking 
about with sailor when it 

547
00:32:14,000 --> 00:32:18,400
becomes apparent in the next 
two, three, four, five years. 

548
00:32:19,100 --> 00:32:26,400
That El Salvador and Michael 
sailor made the best move to 

549
00:32:26,400 --> 00:32:30,700
stop use to stop holding Fiat, 
stop holding US Dollars, and 

550
00:32:30,700 --> 00:32:36,600
start holding Bitcoin. 
That is really when the proper 

551
00:32:36,900 --> 00:32:40,500
propaganda machine of the nation
states, starts to get turned up 

552
00:32:40,600 --> 00:32:43,000
to another level. 
You protect yourself against 

553
00:32:43,000 --> 00:32:46,200
that, it's very simple. 
Take your Bitcoin into self 

554
00:32:46,200 --> 00:32:52,500
custody, run your own node, try 
to trust as People as possible 

555
00:32:52,600 --> 00:32:57,000
trust when it comes to finance 
is a very very dangerous thing. 

556
00:32:57,100 --> 00:33:00,300
When you don't have to trust 
anybody, you shouldn't have to. 

557
00:33:00,400 --> 00:33:05,700
And now that Bitcoin exists. 
Literally, there's no reason why

558
00:33:05,700 --> 00:33:08,500
you have some of your wealth in 
a bank. 

559
00:33:08,500 --> 00:33:11,500
It absolutely makes no sense. 
Not only do they make you pay 

560
00:33:11,500 --> 00:33:14,900
fees, you have to deal with that
inflation overall. 

561
00:33:14,900 --> 00:33:19,300
It's a bad deal opt out by 
yourself some Bitcoin Opti. 

562
00:33:19,400 --> 00:33:22,200
What are your thoughts brother? 
Well, first before I go into my 

563
00:33:22,200 --> 00:33:24,700
thoughts, guys, to you guys 
hanging out in spaces, I see 

564
00:33:24,700 --> 00:33:26,700
your request. 
I will bring you up after the 

565
00:33:26,700 --> 00:33:29,400
show. 
Keep your questions in mind and 

566
00:33:29,400 --> 00:33:31,400
we will go in this. 
Once the show is done. 

567
00:33:31,400 --> 00:33:32,800
Sorry for that. 
PSA Nico. 

568
00:33:32,800 --> 00:33:37,900
But Keep forgetting anyways. 
UK Regulators are scrambling for

569
00:33:37,900 --> 00:33:42,900
control and we see this not only
from the powers that be the 

570
00:33:42,900 --> 00:33:47,000
unelected bureaucrats, but also 
from the Legacy Media, they are 

571
00:33:47,500 --> 00:33:52,100
corralling everyone with the 
idea that you need protection. 

572
00:33:52,100 --> 00:33:54,500
I really, I really like how you 
put it in Eco. 

573
00:33:54,500 --> 00:33:59,500
The, they have our backs like 
LOL, I really love that. 

574
00:33:59,500 --> 00:34:01,900
That is always the angle that 
they come at with us. 

575
00:34:01,900 --> 00:34:04,500
Just like oh, we need to Tech 
people, this is for your 

576
00:34:04,500 --> 00:34:07,100
protection. 
This is for your safety, and 

577
00:34:07,100 --> 00:34:09,699
we're on the other side is 
bitcoiners like the reason we 

578
00:34:09,699 --> 00:34:12,500
hold Bitcoin is because I don't 
need your protection. 

579
00:34:12,500 --> 00:34:18,800
I have a money that doesn't get 
stolen from by you. 

580
00:34:18,800 --> 00:34:20,300
The people that are there to 
protect me. 

581
00:34:20,300 --> 00:34:23,600
This is why we Bitcoin to 
separate money from state but 

582
00:34:23,600 --> 00:34:26,199
furthermore Nico is this 
capitulation. 

583
00:34:26,199 --> 00:34:30,900
I really like how you put it the
five stages of grief it sounds 

584
00:34:30,900 --> 00:34:34,199
like they are starting to 
capitulate and Bitcoin should be

585
00:34:34,199 --> 00:34:38,800
a small part of a diverse 
exposure and furthermore 10% 

586
00:34:38,800 --> 00:34:42,100
what is this exposure for ants? 
Like come on guys. 

587
00:34:42,100 --> 00:34:44,900
Yeah you already know my view, 
we are all in. 

588
00:34:44,900 --> 00:34:50,000
This is the way guys go all in 
on bitcoin burn the bridges now,

589
00:34:50,000 --> 00:34:52,699
joke, that's a joke guys. 
Do, what is best for you? 

590
00:34:52,699 --> 00:34:54,400
I can't tell you what to do with
your money. 

591
00:34:54,699 --> 00:34:58,700
This is just what I do and it's 
cuz I cuz we keep saying the 

592
00:34:58,700 --> 00:35:01,200
same thing guys. 
Opt out of the system, the 

593
00:35:01,200 --> 00:35:04,900
system treats you like a slave. 
Dave and we are here to separate

594
00:35:04,900 --> 00:35:08,700
money and state because the more
you give these people power, the

595
00:35:08,700 --> 00:35:11,200
more they will take and the more
they want to control you. 

596
00:35:11,200 --> 00:35:14,300
So what are we going to do? 
We are going to opt out from the

597
00:35:14,300 --> 00:35:20,000
Matrix, stay humble and stacks 
at so protect yourself from them

598
00:35:20,300 --> 00:35:26,000
and buy Bitcoin. 
Give me 100 100 percent dude. 

599
00:35:26,200 --> 00:35:28,300
Woof let's see. 
You guys. 

600
00:35:28,300 --> 00:35:30,800
Take self custody. 
Let's move on. 

601
00:35:31,000 --> 00:35:35,400
We got a he got a huge fail. 
Opti update. 

602
00:35:35,400 --> 00:35:40,500
It's time for the daily fail 
brought to you by Swan, Swan is 

603
00:35:40,500 --> 00:35:43,500
the best way to build your 
Bitcoin stack with automated 

604
00:35:43,500 --> 00:35:46,900
Bitcoin Savings Plan, instant 
purchases and it's serving 

605
00:35:46,900 --> 00:35:51,500
clients of any size from ten 
dollars to ten million dollars. 

606
00:35:51,500 --> 00:35:55,400
What we advocate for Simply 
Bitcoin is dollar cost, 

607
00:35:55,400 --> 00:35:58,600
averaging, and our values, align
with Swan, right? 

608
00:35:58,600 --> 00:36:01,500
They incentivize self custody, 
they want you to take some 

609
00:36:01,500 --> 00:36:02,800
crusty. 
They don't want you to leave it 

610
00:36:02,800 --> 00:36:07,200
on the app and the incentivize 
DC, a right which is in our 

611
00:36:07,200 --> 00:36:10,300
opinion, the best way to stack 
Bitcoin without, you know, 

612
00:36:10,300 --> 00:36:13,500
speculation whatever spread out 
the risk over a number of days. 

613
00:36:13,900 --> 00:36:20,100
So on.com Alright guys, so you 
guys probably know what we're 

614
00:36:20,100 --> 00:36:24,200
going to go with. 
But first before we get into the

615
00:36:24,200 --> 00:36:27,000
mega wreck that happened last 
night, we're going to cover this

616
00:36:27,400 --> 00:36:30,200
other Mega wreck that happened 
at the beginning of this week, 

617
00:36:30,600 --> 00:36:33,000
and I do have this Bloomberg 
article. 

618
00:36:33,000 --> 00:36:36,800
I'll highlight it for you guys. 
So I also will get on the 

619
00:36:36,800 --> 00:36:39,200
wrecked leaderboard because they
did a better break down in my 

620
00:36:39,200 --> 00:36:40,800
opinion. 
But let's go over the Bloomberg 

621
00:36:40,800 --> 00:36:44,200
article for a moment and the 
title is crypto firm Nomad loses

622
00:36:44,200 --> 00:36:49,100
nearly 200 million dollars in. 
Jack more than 1 billion dollars

623
00:36:49,100 --> 00:36:53,700
has been stolen and Bridge hacks
this year, amazing guys. 

624
00:36:53,700 --> 00:36:57,900
And Nomad also, I think this is 
a funny point that I will add to

625
00:36:57,900 --> 00:37:00,000
the put a PIN to the end of this
fail. 

626
00:37:00,000 --> 00:37:03,200
But no man has recently raised 
22 million in the seed round. 

627
00:37:03,200 --> 00:37:06,200
Keep that in mind. 
Let's remember who is investing 

628
00:37:06,200 --> 00:37:08,500
in this stuff so no matter 
Bridge protocol for transferring

629
00:37:08,500 --> 00:37:12,400
shit coins across different 
blockchains, lost close to 200 

630
00:37:12,400 --> 00:37:15,300
million dollars to Software 
System, was drains the Fun's 

631
00:37:15,300 --> 00:37:17,700
over. 
Hours and a small batches by 

632
00:37:17,700 --> 00:37:21,100
various account so they don't 
know what exactly happening. 

633
00:37:21,100 --> 00:37:25,600
An ongoing investigation is 
happening and Nomads goal is to 

634
00:37:25,600 --> 00:37:28,400
identify the accounts involved 
and get you your money back. 

635
00:37:28,700 --> 00:37:31,900
Yes, yes. 
So personally, guys, I'm not the

636
00:37:31,900 --> 00:37:34,400
biggest shit coiner. 
I don't even care about shit 

637
00:37:34,400 --> 00:37:35,800
going down. 
I'm a Bitcoin, right? 

638
00:37:36,300 --> 00:37:38,800
I so I highly dislike, what is a
bridge Bridges? 

639
00:37:38,800 --> 00:37:41,300
Our software's that enable 
different types of block chains 

640
00:37:41,300 --> 00:37:44,700
and their respective shit coin 
to interoperate rather than work

641
00:37:44,700 --> 00:37:47,700
in silos. 
So To convert one type of coin 

642
00:37:47,700 --> 00:37:51,100
into another a bridge service 
will typically wrap a shit coin 

643
00:37:51,100 --> 00:37:53,100
so that it can operate on 
another blockchain. 

644
00:37:53,300 --> 00:37:56,400
The bridge won't need to hold 
reserves to back the rap coins, 

645
00:37:56,400 --> 00:37:59,500
creating a huge pool of tokens 
for hackers to Target. 

646
00:37:59,700 --> 00:38:01,300
Yes honey pots. 
Mmm. 

647
00:38:01,500 --> 00:38:05,400
The complexity of bridge 
software can lead to errors and 

648
00:38:05,400 --> 00:38:07,900
make them vulnerable for 
explosion. 

649
00:38:08,100 --> 00:38:12,900
Exploding exploit Asian security
offered at polygon 10, cents, 

650
00:38:12,900 --> 00:38:15,800
Bridges control, huge, amounts 
of assets, and also makes them 

651
00:38:15,800 --> 00:38:19,600
in a active Target for hackers. 
Remember this guy's name and 

652
00:38:19,600 --> 00:38:22,200
what company? 
He's working for foreshadow. 

653
00:38:22,200 --> 00:38:26,300
Anyways, the Hat Comes days 
after Nomad got a 22 million 

654
00:38:26,300 --> 00:38:30,500
seed round by Paul each n 
capital ethereal, Ventures, hack

655
00:38:30,500 --> 00:38:34,600
VC, coinbase Ventures and 
crypto.com. 

656
00:38:35,100 --> 00:38:39,900
Interesting investors guys. 
Next Nomads protocol had a 

657
00:38:39,908 --> 00:38:42,600
software bug that allowed users 
to withdraw more assets than 

658
00:38:42,600 --> 00:38:45,800
were deposited in the bridge. 
So after the initial hack 

659
00:38:45,800 --> 00:38:49,500
upward, 40 other exploiters 
compromising Mev botched flash 

660
00:38:49,500 --> 00:38:52,400
pots and independent exploiters 
replicated, the attack in a 

661
00:38:52,408 --> 00:38:54,400
manner that quickly drained the 
bridge. 

662
00:38:54,400 --> 00:38:56,600
So, as you can see right here, 
there's a little point. 

663
00:38:56,600 --> 00:39:01,000
At one of the exploiters was, 
also associated with another 

664
00:39:01,000 --> 00:39:04,800
exploitation. 
So I got this article over here 

665
00:39:04,800 --> 00:39:08,800
from Wreck news because wreck 
news is just, you know, they 

666
00:39:09,200 --> 00:39:11,500
they are keeping tally of all 
this shit, coin fails. 

667
00:39:11,500 --> 00:39:14,200
So here we go, let's get into 
this, it'll get a little 

668
00:39:14,200 --> 00:39:15,700
technical. 
I might have to read a little 

669
00:39:15,700 --> 00:39:18,600
more than Usual. 
But, anyways, Nomad Bridge, 

670
00:39:18,600 --> 00:39:24,000
wrecked August 2nd 2022. 
So the vultures had a busy night

671
00:39:24,100 --> 00:39:28,000
Nomad Bridge had been torn apart
with 109 million of liquidity 

672
00:39:28,000 --> 00:39:30,100
drain. 
In a Savage, attack lasting two,

673
00:39:30,100 --> 00:39:33,400
and a half hours, and it's the 
hundredth incident of this 

674
00:39:33,400 --> 00:39:36,800
happening on erect leaderboard. 
Amazing. 

675
00:39:36,800 --> 00:39:39,100
And I really like this article 
right here, or this. 

676
00:39:39,100 --> 00:39:42,500
This sentence right here, guys, 
staying true to D5 principles. 

677
00:39:43,000 --> 00:39:46,100
This hack was permissionless and
anyone could join. 

678
00:39:46,300 --> 00:39:50,200
And once the Fatal blow had been
struck and the News spread many 

679
00:39:50,300 --> 00:39:53,100
began to fight over the scraps 
across Chain. 

680
00:39:53,100 --> 00:39:56,700
Bridge has continued to be a 
weak point for defy, and a juicy

681
00:39:56,700 --> 00:40:00,400
Target for exploiters. 
And when they go, it's often a 

682
00:40:00,408 --> 00:40:05,000
total collapse and you can see 
this chart and it's literally 

683
00:40:05,000 --> 00:40:09,200
going from 100 to 0 guys, 
amazing? 

684
00:40:09,200 --> 00:40:12,200
So the collateral damage from 
the unbaked assets. 

685
00:40:12,200 --> 00:40:15,500
It's also severely affecting the
change that depended on Nomad. 

686
00:40:15,500 --> 00:40:18,900
Some other shit. 
Joined Moonbeam, evm, OS, and 

687
00:40:18,900 --> 00:40:22,600
Milko media. 
So this incident is distinct. 

688
00:40:22,600 --> 00:40:26,400
And it's every man for himself 
nature, but many who exploited 

689
00:40:26,400 --> 00:40:28,500
the bug have declared themselves
white hat. 

690
00:40:28,900 --> 00:40:31,600
Wrecked is looking forward to 
seeing how much is eventually 

691
00:40:31,600 --> 00:40:35,400
returned. 
So, as you can see over here, 

692
00:40:36,000 --> 00:40:42,100
they mention that this is the 
fifth biggest hack on, Iraq news

693
00:40:42,100 --> 00:40:46,000
leaderboard guys. 
So a big one, a big one. 

694
00:40:46,300 --> 00:40:47,900
Again here's where the readings 
going to happen. 

695
00:40:47,900 --> 00:40:50,200
I'm going to read some of the 
stuff so you can get a little 

696
00:40:50,200 --> 00:40:52,100
more technical of the ideas of 
what happening. 

697
00:40:52,100 --> 00:40:55,200
So following a routine upgrade 
in June, the bridges replica 

698
00:40:55,200 --> 00:40:58,500
contract was initialized with 
the Fatal security flaw leading 

699
00:40:58,500 --> 00:41:02,800
to the incident, the Oxo. 
Oh, address was set as a trusted

700
00:41:02,800 --> 00:41:04,400
root. 
Meaning that all messages were 

701
00:41:04,400 --> 00:41:08,000
read as valid by default after a
failed, first attempt costing 

702
00:41:08,000 --> 00:41:12,400
350k and gasps amazing. 
The original attackers exploit 

703
00:41:12,400 --> 00:41:15,300
transaction which was copied by 
those that followed was able to 

704
00:41:15,300 --> 00:41:19,500
call the This function directly 
without having first proved its 

705
00:41:19,500 --> 00:41:21,100
validity. 
The process function is 

706
00:41:21,100 --> 00:41:24,800
responsible for the execution of
all cross chain messages and has

707
00:41:24,800 --> 00:41:27,800
an internal requirement Line 1, 
84 85. 

708
00:41:27,800 --> 00:41:30,800
Sorry to check the validity of 
the Merkel root of all messages 

709
00:41:30,800 --> 00:41:33,100
to be processed. 
However, the upgrade 

710
00:41:33,100 --> 00:41:37,100
inadvertently cause transactions
with a messages value of zero 

711
00:41:37,100 --> 00:41:39,700
invalid. 
According to Legacy, logic to be

712
00:41:39,700 --> 00:41:44,200
read by default as 0 x 0 0, 
which was defined in the upgrade

713
00:41:44,200 --> 00:41:47,400
as a trusted root passing. 
Validation requirement has 

714
00:41:47,400 --> 00:41:50,700
proven this meant any process 
calls could be executed as 

715
00:41:50,700 --> 00:41:53,400
valid. 
In fact, the more sophisticated 

716
00:41:53,400 --> 00:41:56,300
exploiter could have written a 
contracted drain the whole 

717
00:41:56,300 --> 00:41:59,400
bridge for themselves and 
copycat attackers simply copied 

718
00:41:59,400 --> 00:42:03,000
and pasted the same function and
the incident quickly proved to 

719
00:42:03,000 --> 00:42:06,300
be a chaotic make sure Word of 
Mouth crowd hacking frantic 

720
00:42:06,300 --> 00:42:11,600
White had activity and M. 
EB M evbot Carnage and like I 

721
00:42:11,600 --> 00:42:16,600
said there's one guy that's 
connected to another hack but I 

722
00:42:16,600 --> 00:42:20,600
think there's a funny quote 
right here at the end and it 

723
00:42:20,600 --> 00:42:24,400
goes, what will the future hold 
for the ecosystems affected by 

724
00:42:24,400 --> 00:42:27,900
Nomads collapse apparently the 
total value locked on these 

725
00:42:27,900 --> 00:42:31,000
other shit coins that are 
associated to Nomad are 

726
00:42:31,000 --> 00:42:33,700
dwindling. 
But this is what we tell you 

727
00:42:33,700 --> 00:42:36,900
guys always look at this comment
right here, but nomadic 

728
00:42:36,900 --> 00:42:39,000
liquidity was has no permanent 
home. 

729
00:42:39,200 --> 00:42:42,300
Users will always Rome to new 
lands in search of the next big 

730
00:42:42,300 --> 00:42:44,600
thing. 
And we'll continue to get stung.

731
00:42:44,700 --> 00:42:46,900
Whenever vigilance I'm stretched
too. 

732
00:42:46,900 --> 00:42:51,400
Thin guys, we tell you this all 
the time, stay humble, Stacks 

733
00:42:51,400 --> 00:42:53,400
ads, the more you go playing 
shit:. 

734
00:42:53,900 --> 00:42:55,800
The more risk you have a blowing
up. 

735
00:42:55,800 --> 00:42:59,100
And this is just a continuous 
thing guys. 

736
00:42:59,100 --> 00:43:03,100
This is happening on like a day 
to day scenario now. 

737
00:43:03,100 --> 00:43:06,500
And, furthermore, it happened it
happens. 

738
00:43:06,500 --> 00:43:09,100
Because it's none of these shit 
coins in these D5. 

739
00:43:09,100 --> 00:43:13,800
Protocols, they don't solve the,
there's trust involved, they're 

740
00:43:13,800 --> 00:43:18,000
not defy your trusting a Mark 
contractor chasing the devs, 

741
00:43:18,200 --> 00:43:21,600
that wrote that smart contract, 
not to add any malicious code or

742
00:43:21,600 --> 00:43:25,400
not to make a bug like, like was
just happened here like Bitcoin.

743
00:43:25,500 --> 00:43:28,300
It's not trust list, but it's 
definitely trust minimize 

744
00:43:28,500 --> 00:43:33,200
goddamnit Opti. 
I'm sorry, I'm sorry, I don't 

745
00:43:33,200 --> 00:43:35,400
know what's going on with this 
camera, boys and girls. 

746
00:43:35,400 --> 00:43:37,300
Yeah, we will, we will figure it
out. 

747
00:43:37,300 --> 00:43:39,300
Looks like I'm gonna have to buy
you a new one. 

748
00:43:39,500 --> 00:43:41,400
We'll figure it out. 
All right. 

749
00:43:41,400 --> 00:43:44,700
All right, well as you can see. 
Oh, I sorry, sorry. 

750
00:43:44,700 --> 00:43:46,900
Sorry. 
Sorry we are Messing up this 

751
00:43:46,900 --> 00:43:51,000
morning. 
We gotta go to Solana my friend.

752
00:43:51,000 --> 00:43:52,100
Okay. 
All right. 

753
00:43:52,100 --> 00:43:56,300
Well, I'll just move on but like
I said here is the list of 

754
00:43:56,300 --> 00:44:00,700
investors Open Sea crypto 
coinbase polygon a gleam 

755
00:44:00,700 --> 00:44:03,800
nauseous guys avoid these shit 
coins. 

756
00:44:03,800 --> 00:44:08,300
So let's get into this one 
because it's makes an even 

757
00:44:08,300 --> 00:44:11,300
better point. 
So we are into the Solana fail 

758
00:44:11,400 --> 00:44:13,400
as you guys probably saw on 
Twitter. 

759
00:44:14,000 --> 00:44:16,700
It made its rounds last night. 
So let's just get Intuit Solana 

760
00:44:16,700 --> 00:44:20,100
wallets targeted in latest 
multimillion-dollar hacked over 

761
00:44:20,100 --> 00:44:23,400
8,000 internet-connected halt 
wallets have been compromised so

762
00:44:23,400 --> 00:44:26,500
far but the source of the attack
remains unknown. 

763
00:44:26,800 --> 00:44:30,700
So the Solana ecosystems appears
to be the victim of the latest 

764
00:44:30,700 --> 00:44:35,700
exploit has to do with connected
hot wallet Phantom slope and 

765
00:44:35,700 --> 00:44:38,600
Trust wallet. 
The attack is ongoing they 

766
00:44:38,600 --> 00:44:40,400
really don't know what is 
happening. 

767
00:44:40,400 --> 00:44:44,900
But I do love the pr spin that 
they have to acknowledge or at 

768
00:44:44,900 --> 00:44:48,000
least push forward. 
The exact cause of Tuesday's, 

769
00:44:48,000 --> 00:44:51,200
evenings attack remained unclear
throughout the night though, it 

770
00:44:51,200 --> 00:44:54,400
appears to have predominantly 
impacted Mobile Wallet, users 

771
00:44:54,400 --> 00:44:57,800
the attacker somehow obtained, 
the ability to sign, I initiate 

772
00:44:57,800 --> 00:45:01,300
an approved transaction on the 
behalf of users suggesting a 

773
00:45:01,308 --> 00:45:03,600
trusted third party. 
Service may have been 

774
00:45:03,600 --> 00:45:06,900
compromised in a so-called 
supply chain attack. 

775
00:45:06,900 --> 00:45:10,000
So Engineers across several 
networks have found that the bug

776
00:45:10,000 --> 00:45:13,700
isn't connected with the Salona 
core code but in software used 

777
00:45:13,700 --> 00:45:19,000
by several software wallets the 
attack was inevitably reignite, 

778
00:45:19,000 --> 00:45:22,300
a long-running debate around the
security of hot wallets which 

779
00:45:22,300 --> 00:45:25,200
stay connected to the internet 
at all times in order to provide

780
00:45:25,200 --> 00:45:28,000
users a convenient way to send 
storm, receive crypto. 

781
00:45:28,300 --> 00:45:30,700
And I highlighted, this little 
line in here from coin desk 

782
00:45:30,700 --> 00:45:33,200
because I kind of feel like this
is a fail in itself in the 

783
00:45:33,200 --> 00:45:35,100
article. 
And it goes, cold, cold wallets,

784
00:45:35,400 --> 00:45:38,500
USB drives, that must be plugged
into a computer to sign 

785
00:45:38,500 --> 00:45:41,600
transactions. 
Cold wallet is just a wallet. 

786
00:45:41,600 --> 00:45:44,400
That's not connected to the 
internet, right guys? 

787
00:45:45,000 --> 00:45:49,000
Anyways, This is the Solana, 
labs are this is represented 

788
00:45:49,000 --> 00:45:51,100
from Phantom. 
We are evaluating the incident. 

789
00:45:51,100 --> 00:45:54,000
Impacting Solano Allatoona 
working closely with other teams

790
00:45:54,000 --> 00:45:56,100
in the ecosystem, to get to the 
bottom of this. 

791
00:45:56,100 --> 00:45:59,400
We will issue an update. 
Once we gather more information,

792
00:45:59,600 --> 00:46:02,800
the team doesn't believe this is
a phantom Pacific issue at the 

793
00:46:02,800 --> 00:46:05,200
time. 
I really love how all these shit

794
00:46:05,200 --> 00:46:08,600
Corners are trying to pass off 
the blame to someone else. 

795
00:46:08,600 --> 00:46:12,400
So it's not our it's not our 
Block Chain is a hot wallet 

796
00:46:12,500 --> 00:46:17,000
software, but like we tell you 
guys all the time, If it's in 

797
00:46:17,000 --> 00:46:22,000
the smart contract not a hack is
just a bad contract. 

798
00:46:22,600 --> 00:46:26,500
Anyways it says that maybe it 
started with nft Marketplace 

799
00:46:27,300 --> 00:46:29,400
again. 
They don't know exactly what is 

800
00:46:29,400 --> 00:46:34,100
going on and then furthermore I 
just wanted to tell you guys in 

801
00:46:34,100 --> 00:46:37,600
in Fiat numbers that the 
estimated damage is over five 

802
00:46:37,600 --> 00:46:42,400
point two million dollars from 
Solana with 7900 Solana wallet 

803
00:46:42,400 --> 00:46:46,700
being affected again. 
The root cause is unclear And it

804
00:46:46,700 --> 00:46:50,100
appears to be a flaw in certain 
wallet software rather than in 

805
00:46:50,100 --> 00:46:53,600
the Solana blockchain itself and
then we have this notorious shit

806
00:46:53,600 --> 00:46:55,100
Corner. 
They're all saying that. 

807
00:46:55,100 --> 00:46:59,000
Maybe it's supply chain issues 
or someone has somehow acquired 

808
00:46:59,000 --> 00:47:01,800
access to the private Keys 
again, guys. 

809
00:47:01,800 --> 00:47:04,500
It's not really a hat. 
When it, you see how it always 

810
00:47:04,500 --> 00:47:06,300
happens. 
Never happens in Bitcoin. 

811
00:47:06,300 --> 00:47:09,000
It always happened and they 
always just come up with fucking

812
00:47:09,000 --> 00:47:11,200
explode. 
Just like via, it's the supply 

813
00:47:11,200 --> 00:47:13,000
Chains. 
It's not the government that 

814
00:47:13,000 --> 00:47:14,900
they printed too much money. 
It's someone else somebody 

815
00:47:14,900 --> 00:47:19,000
else's fault and I actually one 
more thing Opti, I'm sorry to 

816
00:47:19,000 --> 00:47:22,800
interrupt you. 
I saw a tweet by, I forget who 

817
00:47:22,800 --> 00:47:25,100
it was, but it was a great tweet
and it said something like this,

818
00:47:26,200 --> 00:47:28,900
they don't care because it's 
just plebs that are being stolen

819
00:47:28,900 --> 00:47:30,900
from. 
But if the Deb's got their 

820
00:47:30,900 --> 00:47:33,800
accounts drained the way that 
the way that it happened, the 

821
00:47:33,800 --> 00:47:36,500
last two days. 
Do you really think the devs 

822
00:47:36,500 --> 00:47:39,700
would do nothing? 
And that, that in itself right 

823
00:47:39,700 --> 00:47:42,800
there really highlights, the 
fact that this thing is not to 

824
00:47:42,800 --> 00:47:44,600
centralize. 
It never was remember they 

825
00:47:44,600 --> 00:47:48,000
stopped the they read. 
Did the blockchain that was the 

826
00:47:48,000 --> 00:47:50,800
next Point. 
Nico had glad you got there 

827
00:47:50,800 --> 00:47:52,800
because I had to go down memory 
lane. 

828
00:47:52,800 --> 00:47:57,500
And like, hmm doesn't Solana has
had more problems in the past 

829
00:47:57,900 --> 00:48:01,800
and, yes, I like this article 
Solana reminds me of my broken 

830
00:48:01,800 --> 00:48:03,600
earphones. 
If I had a dollar, every time 

831
00:48:03,600 --> 00:48:06,500
Solana was shut down this year, 
I'd be able to afford a 500 

832
00:48:06,500 --> 00:48:09,400
grams of cashews at a local 
supermarket, that's eight 

833
00:48:09,400 --> 00:48:12,800
dollars. 
So it's been down eight times 

834
00:48:13,100 --> 00:48:16,100
and now it's got a critical hack
in. 

835
00:48:16,200 --> 00:48:19,000
Smart contracts. 
And of course, I am the master 

836
00:48:19,000 --> 00:48:21,000
of memes. 
So I have to add some memes into

837
00:48:21,000 --> 00:48:23,400
this. 
We got Samson Mountain here and 

838
00:48:23,400 --> 00:48:25,400
he goes to be fair, they never 
did. 

839
00:48:25,400 --> 00:48:27,000
Say, it was Secure. 
Here we go. 

840
00:48:27,000 --> 00:48:29,700
The Solana Twitter, and it goes 
the world's most performant 

841
00:48:29,700 --> 00:48:33,200
blockchain fast, composable 
green and globally, distributed 

842
00:48:33,200 --> 00:48:37,100
joint, thousands of developers, 
and building the future of web, 

843
00:48:37,100 --> 00:48:39,400
30. 
And just to make a point, guys, 

844
00:48:39,700 --> 00:48:41,900
this is what we do here. 
We got to make points so that 

845
00:48:41,900 --> 00:48:43,800
you guys can get the message. 
Clearly. 

846
00:48:44,000 --> 00:48:47,100
I love this tweet by Maddow 
shouts out to I don't egos 

847
00:48:47,100 --> 00:48:49,700
thousands of compromise. 
Solana wallet are a good 

848
00:48:49,700 --> 00:48:53,000
reminder of the importance of 
cold storage for your savings. 

849
00:48:53,000 --> 00:48:56,300
If your keys never touch the 
internet, it is significantly 

850
00:48:56,300 --> 00:48:58,600
harder to compromise them 
generate Keys. 

851
00:48:58,600 --> 00:49:02,100
Using well-reviewed open source,
tools, store them offline, 

852
00:49:02,400 --> 00:49:04,300
sleep. 
Easy guys. 

853
00:49:04,500 --> 00:49:08,600
This is the way this is why we 
continue to tell you to stay 

854
00:49:08,600 --> 00:49:13,400
humble and stack SATs, because 
you do not want to get wrecked 

855
00:49:13,400 --> 00:49:18,300
on a shit coin like this. 
It is crazy out here. 

856
00:49:18,600 --> 00:49:20,200
What a day? 
What a day? 

857
00:49:20,200 --> 00:49:21,900
Nico jump in. 
I know you're going to have to 

858
00:49:21,900 --> 00:49:26,300
add some more to sets into this.
You muted. 

859
00:49:27,500 --> 00:49:29,200
Sorry. 
Yeah, dude, I think you covered 

860
00:49:29,200 --> 00:49:34,100
a great simply Bitcoin live with
all the all the bumps along the 

861
00:49:34,100 --> 00:49:35,800
way. 
So yeah. 

862
00:49:35,800 --> 00:49:41,700
Look, I men Why is it that it 
always happens? 

863
00:49:41,700 --> 00:49:43,700
Is your coins? 
Doesn't happen? 

864
00:49:43,700 --> 00:49:47,800
A Bitcoin, it's really not 
rocket science. 

865
00:49:47,800 --> 00:49:50,200
You don't have to dress it up. 
There's no branding, there's no 

866
00:49:50,200 --> 00:49:52,100
marketing. 
You buy Bitcoin. 

867
00:49:53,000 --> 00:49:58,100
Take it into Cold Storage. 
That's that not rocket science 

868
00:49:58,600 --> 00:50:01,800
you've been simple. 
Yeah literally it's simply 

869
00:50:01,800 --> 00:50:08,000
Bitcoin as all you got to stick 
to anyways dude and what a 

870
00:50:08,000 --> 00:50:10,100
catastrophe. 
What a catastrophe? 

871
00:50:10,100 --> 00:50:11,200
Dude? 
Could you imagine man? 

872
00:50:11,200 --> 00:50:14,600
You have your savings just are 
you're like yo I'm Sovereign 

873
00:50:14,900 --> 00:50:17,300
have my money in so called 
crypto. 

874
00:50:17,800 --> 00:50:19,800
It's look the next day, it's 
gone. 

875
00:50:19,800 --> 00:50:21,900
What was the point? 
What was the point? 

876
00:50:22,000 --> 00:50:28,100
What was the point? 
So anyways, Thanks, Becca. 

877
00:50:28,200 --> 00:50:31,300
I appreciate that. 
Oh God. 

878
00:50:31,400 --> 00:50:33,600
All right. 
That that put me in a bad mood 

879
00:50:33,600 --> 00:50:38,900
so much failure in one day. 
It's time for the daily meme 

880
00:50:38,900 --> 00:50:42,600
review brought to you by Citadel
21 it's the best Bitcoin culture

881
00:50:42,600 --> 00:50:45,900
is Enid stories articles Comics 
by actual bitcoiners is artwork 

882
00:50:45,900 --> 00:50:48,100
for volume 10. 
This is the artwork for volume 

883
00:50:48,100 --> 00:50:50,800
11 and this is the artwork for 
volume 2. 

884
00:50:51,100 --> 00:50:53,300
Volunteers, almost sold out 
because there's only a thousand 

885
00:50:53,300 --> 00:50:55,400
physical copies made per volume.
Guys. 

886
00:50:55,400 --> 00:50:58,700
Get your physical Prince of 
Citadel 21 today before they run

887
00:50:58,700 --> 00:51:03,700
out. 
All right, guys, I know you're 

888
00:51:03,700 --> 00:51:06,200
going to love this Nika. 
There is no music here, but 

889
00:51:06,200 --> 00:51:09,400
shout out to Sherlock hot old, 
and he goes, Solana roadmap 

890
00:51:09,400 --> 00:51:15,200
looking good right now. 
And for those guys listening, we

891
00:51:15,200 --> 00:51:19,900
have a video of it looks like a 
drone going over a frickin 

892
00:51:19,900 --> 00:51:25,800
destroyed Highway. 
Ha ha ha you can't drive on it, 

893
00:51:25,800 --> 00:51:29,000
but yes, Solana roadmap looking 
good right now. 

894
00:51:29,000 --> 00:51:32,900
Literally, a highway falling. 
Off the cliff, the side of a 

895
00:51:32,908 --> 00:51:37,400
mountain, amazing. 
Okay, let's continue on again. 

896
00:51:37,900 --> 00:51:41,700
Shout out to my boy rub. 
Oh, before I forget guys, put 

897
00:51:41,700 --> 00:51:44,900
your score in the chat and we 
will review some of these scores

898
00:51:44,900 --> 00:51:48,300
before it is over. 
So, shout out to rope, we got 

899
00:51:48,300 --> 00:51:52,400
play stupid games, wind stupid 
prizes, hashtag Solana hashtag 

900
00:51:52,400 --> 00:51:54,400
Solana hack, and it's a guy on 
the phone. 

901
00:51:54,400 --> 00:51:57,500
He goes, yeah, man, I got 
wrecked by the Solano hack, but 

902
00:51:57,500 --> 00:52:01,000
it's okay, they will roll back 
the chain, and besides salon, 

903
00:52:01,100 --> 00:52:03,600
No.2 is where the real 
Innovation will be. 

904
00:52:03,800 --> 00:52:07,900
And then his dog is putting a 
pillow over his head because he 

905
00:52:07,900 --> 00:52:11,900
is an idiot. 
Anyways, continuation on the 

906
00:52:11,900 --> 00:52:15,400
same theme of today, hot oil and
don't trade. 

907
00:52:15,400 --> 00:52:17,800
We got Lena. 
See Chey, she's killing it on 

908
00:52:17,800 --> 00:52:22,500
these little hard ler, comic 
book memes and we got one little

909
00:52:22,500 --> 00:52:24,500
hard liquor. 
He's chilling with this Bitcoin.

910
00:52:24,500 --> 00:52:26,900
He's got that Bitcoins and he's 
on the beach. 

911
00:52:26,900 --> 00:52:29,400
He's got a little Margarita. 
He's just chilling. 

912
00:52:29,400 --> 00:52:32,800
Enjoying the Sun. 
Looks like he's signing his 

913
00:52:32,800 --> 00:52:35,700
under, his undergarments are 
under his undergarment. 

914
00:52:35,700 --> 00:52:38,200
Anyway, there's this guy 
stressing out over here and he's

915
00:52:38,200 --> 00:52:40,200
trying to trade. 
He keeps looking at the price he

916
00:52:40,200 --> 00:52:42,500
keeps looking at the chart. 
Remember, we tell you guys don't

917
00:52:42,500 --> 00:52:44,300
look at the Bitcoin price, you 
just buy every single day. 

918
00:52:44,500 --> 00:52:47,400
Anyways, we got a little hot 
learn who's got his Bitcoins and

919
00:52:47,400 --> 00:52:49,200
he's, you know, he's hot in this
Bitcoin. 

920
00:52:49,200 --> 00:52:52,700
He's just cooking a good meal. 
He's eating well making sure 

921
00:52:52,700 --> 00:52:55,800
he's going to survive and then 
we got the dude trading and he's

922
00:52:55,800 --> 00:52:57,700
burning his food because he's 
stressed out. 

923
00:52:57,700 --> 00:53:00,300
Not paying attention to life. 
He's looking at his phone, 

924
00:53:00,300 --> 00:53:03,800
trying to get the right. 
Right trade and now look Bitcoin

925
00:53:03,800 --> 00:53:06,800
are just sleeping. 
So soundly at night because we 

926
00:53:06,800 --> 00:53:10,500
know that our money is secured. 
Our money is safe. 

927
00:53:10,500 --> 00:53:13,600
As long as it's in Cold Storage,
as long as it's not in a hot 

928
00:53:13,600 --> 00:53:17,300
wallet, your SATs will be safe 
at night, but look at this guy. 

929
00:53:17,300 --> 00:53:20,000
You still trading on his 
exchange and he's sweating, he 

930
00:53:20,000 --> 00:53:21,800
can't sleep. 
Remember those days when you 

931
00:53:21,800 --> 00:53:26,700
were shit corner and you were 
trading and oh my God, that I'm 

932
00:53:26,700 --> 00:53:28,500
get PTSD. 
Just thinking about it right 

933
00:53:28,500 --> 00:53:30,400
now. 
And the last Square, we got the 

934
00:53:30,408 --> 00:53:32,000
little hot. 
He's just chilling. 

935
00:53:32,000 --> 00:53:34,200
He's having a good time. 
And then we got another 

936
00:53:34,200 --> 00:53:39,200
Hollywood is your grandpa okay, 
he looks a bit stress and and on

937
00:53:39,200 --> 00:53:43,100
his trade you got liquidated 
thanks for playing. 

938
00:53:43,400 --> 00:53:47,000
And of course I had to do a 
little throwback today because 

939
00:53:47,300 --> 00:53:50,900
Michael sailor put out a meme 
and I think it's just perfectly 

940
00:53:50,900 --> 00:53:53,100
fitting for us today guys and 
it's sailing. 

941
00:53:53,100 --> 00:53:56,300
He goes Monday morning, it's 
time to get back to work and 

942
00:53:56,300 --> 00:53:59,200
it's a meme of himself working 
at McDonald's. 

943
00:53:59,300 --> 00:54:02,100
No no. 
I'm not saying He's working at 

944
00:54:02,100 --> 00:54:04,900
McDonald. 
All I'm saying is it seems like 

945
00:54:04,900 --> 00:54:06,900
he's for the culture, he gets it
man. 

946
00:54:06,900 --> 00:54:10,900
We all say the same thing, we 
are going to work at McDonald's 

947
00:54:10,900 --> 00:54:15,600
two stacks ads and hey man was 
this a premonition did he know 

948
00:54:15,600 --> 00:54:17,400
has he been talking about this 
for a while? 

949
00:54:17,600 --> 00:54:19,200
Maybe he's been looking to 
actually? 

950
00:54:19,200 --> 00:54:21,700
Can go full Bitcoin evangelist 
for a while. 

951
00:54:22,600 --> 00:54:25,000
And then like I said, in the 
beginning of the show we started

952
00:54:25,000 --> 00:54:29,000
the numbers about the 
deflationary aspect of Bitcoin. 

953
00:54:29,300 --> 00:54:33,400
And like I always say sometimes,
A picture paints a thousand 

954
00:54:33,400 --> 00:54:35,800
words. 
So shout out there at charts BTC

955
00:54:36,200 --> 00:54:42,200
and he goes Bitcoin on this date
to 2011 $12.80 2012, 10 dollars 

956
00:54:42,200 --> 00:54:44,700
eight to twenty. 
Thirteen ninety, seven dollars. 

957
00:54:45,100 --> 00:54:50,500
A 2 2014 $592 I'm not going to 
read them all but we can go 

958
00:54:50,700 --> 00:54:53,000
eight to twenty. 
Twenty eleven thousand two 

959
00:54:53,000 --> 00:54:55,000
hundred eighty two eight to 
twenty. 

960
00:54:55,000 --> 00:54:58,700
Twenty One, thirty nine thousand
five hundred and forty three and

961
00:54:58,700 --> 00:55:01,000
eight to twenty. 
Twenty two, twenty three 

962
00:55:01,100 --> 00:55:05,200
Thousand and thirty five dollars
guys I'm in Texas now and this 

963
00:55:05,200 --> 00:55:07,400
is just reminded me of a 
two-step dance, you know, two 

964
00:55:07,400 --> 00:55:10,700
steps forward one step back 
Bitcoin is to stepping out on 

965
00:55:10,700 --> 00:55:15,600
there and number is continuing 
to go up and then shouts out to 

966
00:55:15,600 --> 00:55:19,900
Jose as bam in the simply 
Bitcoin telegram group. 

967
00:55:19,900 --> 00:55:23,500
Because he posted this me mean 
by our friend Darth. 

968
00:55:23,800 --> 00:55:26,400
I think it's Darth coin. 
Sorry for butchering, your 

969
00:55:26,400 --> 00:55:29,700
actual telegram name. 
But he goes never let a 

970
00:55:29,708 --> 00:55:32,500
government to Manage your 
Bitcoins. 

971
00:55:32,500 --> 00:55:35,100
It will fail. 
Always never in the whole 

972
00:55:35,100 --> 00:55:38,600
history of mankind. 
A government did something good 

973
00:55:38,600 --> 00:55:42,000
for the people. 
Shout Out, Darth coin, he kills 

974
00:55:42,000 --> 00:55:43,300
it. 
You guys should check out his 

975
00:55:43,300 --> 00:55:45,900
wet, his sub stag. 
I'll put a good meme up on here 

976
00:55:45,900 --> 00:55:48,500
soon so you guys can check it 
out and see what he does. 

977
00:55:49,200 --> 00:55:55,100
Anyways, Nico, what a what a day
in the memes and for my meme 

978
00:55:55,100 --> 00:56:00,900
score, I'm going to pull out my 
gadgets and I got this. 

979
00:56:01,100 --> 00:56:06,800
U.s. black USB. 
Electrical output, very good. 

980
00:56:06,900 --> 00:56:10,300
Apparently it didn't live up to 
what you were expecting from it.

981
00:56:12,200 --> 00:56:15,000
It is different one, Nico 
different one rate, the meme 

982
00:56:15,000 --> 00:56:18,800
yourself in the live chat and 
forced me an opportunity to read

983
00:56:18,800 --> 00:56:20,700
something that makes us feel 
uncomfortable. 

984
00:56:20,700 --> 00:56:23,000
Or you could just make our lives
easier and just write something 

985
00:56:23,000 --> 00:56:26,800
normal for that. 
I'm going to give it a reef a 

986
00:56:26,800 --> 00:56:30,700
coral reef thing. 
Yeah, they always have these in 

987
00:56:30,700 --> 00:56:34,400
like Island hotels, you know, 
makes you feel tropical. 

988
00:56:34,600 --> 00:56:38,700
When you go just stealing meme 
review scores from the hotel, I 

989
00:56:38,700 --> 00:56:41,500
love it because I've been in the
room, there's so many objects 

990
00:56:41,500 --> 00:56:46,200
around me, makes my life easy. 
Anyways, Norwell gives it. 

991
00:56:46,200 --> 00:56:49,800
I give those a new bridge I 
created so you can all invest 

992
00:56:49,800 --> 00:56:51,900
your Bitcoin and those memes 
Moon. 

993
00:56:52,000 --> 00:56:54,400
Oops, Bitcoin lost. 
All right. 

994
00:56:54,400 --> 00:56:59,000
Next one is by Becca my memes. 
Score is a set of jumper cables 

995
00:56:59,000 --> 00:57:01,800
and a car. 
A battery for rope. 

996
00:57:01,800 --> 00:57:04,200
Okay, very good. 
Becca, wow. 

997
00:57:04,500 --> 00:57:07,000
How very in-depth opt? 
He's dying. 

998
00:57:07,800 --> 00:57:10,600
I'll give the memes a broken 
drone sitting on a desk. 

999
00:57:10,600 --> 00:57:13,000
Next to me for that Solana 
roadmap. 

1000
00:57:13,000 --> 00:57:17,500
Look, okay, good one and Andrew 
a wooden leg. 

1001
00:57:17,900 --> 00:57:20,300
Okay. 
Okay, very to the point. 

1002
00:57:20,300 --> 00:57:24,200
I love, the simple scores. 
All right, next one TC pins 

1003
00:57:24,500 --> 00:57:26,300
irate those. 
Oh yes! 

1004
00:57:26,300 --> 00:57:30,300
I have one shutout sweet. 
Oh she sat out sweet Toshi. 

1005
00:57:30,300 --> 00:57:35,400
He'll be back next Bull. 
He let he knew he knew He left 

1006
00:57:35,400 --> 00:57:38,200
before the bull market. 
What a legend, bro. 

1007
00:57:38,900 --> 00:57:42,400
All right. 
Next one irate those memes. 

1008
00:57:42,500 --> 00:57:46,800
Cold card. 
Okay, okay, good scores, good 

1009
00:57:46,800 --> 00:57:49,500
scores, good scores today, 
anyways. 

1010
00:57:49,800 --> 00:57:54,600
Alright guys, if you're in the 
Twitter Version audio version, 

1011
00:57:54,600 --> 00:57:57,500
make sure to stay until after 
the show Opti and Jacob from 

1012
00:57:57,500 --> 00:58:00,500
Swan are going to hosts going to
be awesome. 

1013
00:58:01,200 --> 00:58:04,400
Join our telegram group, you 
could link us some mean. 

1014
00:58:04,500 --> 00:58:08,300
Aims to review its literally 
free the links down below. 

1015
00:58:08,300 --> 00:58:10,300
You click it. 
It will take you to the telegram

1016
00:58:10,300 --> 00:58:12,300
group right there. 
It's easy. 

1017
00:58:12,400 --> 00:58:15,300
You could link us pick one, 
meems to review on the meme 

1018
00:58:15,300 --> 00:58:17,900
review. 
But anyways, Opti I think there 

1019
00:58:17,900 --> 00:58:20,600
was a software release today. 
Let's check it out. 

1020
00:58:25,800 --> 00:58:29,700
All right, before we get to the 
software release, I want to give

1021
00:58:29,700 --> 00:58:32,500
a very special shout out to our 
sponsors. 

1022
00:58:32,500 --> 00:58:35,500
Cipher safe, don't be that 
person. 

1023
00:58:35,600 --> 00:58:41,100
That stores their seed on paper.
Paper is prone to water damage. 

1024
00:58:41,100 --> 00:58:44,100
Fire damage your pets can eat it
papers. 

1025
00:58:44,100 --> 00:58:45,400
Terrible. 
It can. 

1026
00:58:45,400 --> 00:58:49,200
Rip paper. 
Won't last decades and decades. 

1027
00:58:49,500 --> 00:58:53,200
You want to build a dynasty 
around your Bitcoin. 

1028
00:58:53,300 --> 00:58:56,900
You definitely want to store 
your Bitcoin on Steel and there 

1029
00:58:56,900 --> 00:59:01,100
is no better place to do it. 
Then the Cipher wheel or the 

1030
00:59:01,100 --> 00:59:07,100
cipher grid, put your seed, put 
your Bitcoin seed on steel. 

1031
00:59:07,100 --> 00:59:12,700
It will survive the test of time
water damage fire damage all of 

1032
00:59:12,700 --> 00:59:18,900
it, check out Cipher safe dot IO
anyways Opti what do you have 

1033
00:59:18,900 --> 00:59:27,500
for us today? 
As we have version, 5.0 .6 from 

1034
00:59:27,500 --> 00:59:30,800
coin kite. 
There was a vulnerability on on 

1035
00:59:30,800 --> 00:59:33,700
the MK4. 
So if you have the MK4, 

1036
00:59:33,700 --> 00:59:36,900
definitely go update that 
software it fixes the virtual 

1037
00:59:36,900 --> 00:59:41,200
virtual disk feature, and it's 
got a bug fist bug fix that 

1038
00:59:41,200 --> 00:59:42,400
addresses, some security 
problems. 

1039
00:59:42,400 --> 00:59:47,700
So again, update to version 5.0,
point, six shots out to the good

1040
00:59:47,700 --> 00:59:51,000
guys over at coin kite. 
We love the cold card anyway. 

1041
00:59:51,000 --> 00:59:57,400
Is guys, make sure you guys 
listen to us on Apple on Spotify

1042
00:59:57,400 --> 01:00:01,200
on anchor. 
And of course, check us out on 

1043
01:00:01,200 --> 01:00:03,400
Fallon. 
If you like what we're doing 

1044
01:00:03,400 --> 01:00:07,400
over here and you appreciate the
the signal we give you stream of

1045
01:00:07,400 --> 01:00:10,100
some SATs and we will continue 
to do what we do. 

1046
01:00:10,100 --> 01:00:13,600
Providing you the value and the 
fire every single day. 

1047
01:00:14,200 --> 01:00:17,500
Anyways Nico, let's roll this 
one out boom. 

1048
01:00:17,700 --> 01:00:20,800
All right guys, before we go I 
want to give a very special 

1049
01:00:20,900 --> 01:00:25,300
Shout out, we save it for last 
because you could literally see 

1050
01:00:25,700 --> 01:00:28,900
what Opti and I are wearing the 
entire show if you like the 

1051
01:00:28,900 --> 01:00:31,600
hoodies and the shirts, let me 
show Opti because he's wearing 

1052
01:00:31,600 --> 01:00:34,000
the shirt. 
If you like what we're wearing, 

1053
01:00:34,600 --> 01:00:38,900
you could visit represent 
LTD.com love the merch, he makes

1054
01:00:38,900 --> 01:00:42,700
Bitcoin stuff too, he's making 
simply Bitcoin merge, it's all 

1055
01:00:42,700 --> 01:00:46,200
custom design, its high quality,
I literally wear this 

1056
01:00:46,200 --> 01:00:48,100
everywhere. 
If you see me in the airport, I 

1057
01:00:48,108 --> 01:00:50,100
will be wearing a represent 
hoodie. 

1058
01:00:50,200 --> 01:00:52,700
And the fuck is they Amy is 
because I actually find them 

1059
01:00:52,800 --> 01:00:55,700
super super comfy. 
So definitely go check out 

1060
01:00:55,700 --> 01:01:03,800
represent LTD.com guys. 
That was our show If you enjoyed

1061
01:01:03,800 --> 01:01:07,000
the show, you know what to do, 
smash that like button. 

1062
01:01:07,300 --> 01:01:10,600
I also want to give a very 
special shout-out to our 

1063
01:01:10,600 --> 01:01:13,800
researcher. 
It helps us a ton with the 

1064
01:01:13,800 --> 01:01:15,800
research. 
His name is Hans. 

1065
01:01:16,100 --> 01:01:22,400
You can go give them a follow on
Twitter on pleb signal Bitcoin. 

1066
01:01:22,600 --> 01:01:26,800
Yeah, so definitely go give him 
a follow as that. 

1067
01:01:26,800 --> 01:01:30,000
Was our show. 
If you enjoyed simply Bitcoin 

1068
01:01:30,000 --> 01:01:34,900
live, make sure to leave Like if
you really like the content make

1069
01:01:34,900 --> 01:01:38,000
sure to subscribe to Simply 
Bitcoin. 

1070
01:01:38,000 --> 01:01:43,100
We are your number one source 
for the peaceful Bitcoin 

1071
01:01:43,100 --> 01:01:45,400
Revolution. 
Love you all. 

1072
01:01:45,500 --> 01:01:49,600
We will see you tomorrow for a 
brand new episode which we live 

1073
01:01:49,600 --> 01:01:51,200
stream. 
Be awesome. 

1074
01:01:51,200 --> 01:01:52,100
See you guys tomorrow.