1 00:00:02,680 --> 00:00:06,240 Yo. Bitcoin's down 50% since its 2 00:00:06,240 --> 00:00:10,800 peak in October of 2025. Many people are beginning to 3 00:00:10,800 --> 00:00:14,920 blame quantum computing, As crazy as that sounds. 4 00:00:14,920 --> 00:00:19,280 Bitcoin OG Willy Wu has officially sold all of his 5 00:00:19,280 --> 00:00:21,880 Bitcoin. The question is why? 6 00:00:22,160 --> 00:00:26,360 Well, he sent out a viral thread yesterday showing that Bitcoin 7 00:00:26,360 --> 00:00:30,680 has officially lost its 12 year trend against gold. 8 00:00:30,880 --> 00:00:34,800 And his explanation? He blames quantum computing for 9 00:00:34,800 --> 00:00:39,000 this breakdown. Let's do a deep dive into the 10 00:00:39,000 --> 00:00:42,160 thread itself and let's get to the bottom of it. 11 00:00:42,160 --> 00:00:45,160 No pun intended. All right everybody, So what is 12 00:00:45,160 --> 00:00:48,520 Willy Wu talking about? S 1st off. 13 00:00:48,800 --> 00:00:52,960 He starts off the thread with a 12 year trend broken. 14 00:00:53,280 --> 00:00:57,800 BTC should be a. Valued a lot higher relative to 15 00:00:57,800 --> 00:00:59,840 gold. By the way, he's not the only 16 00:00:59,840 --> 00:01:03,200 one saying this. We also have the one and only 17 00:01:03,200 --> 00:01:05,920 legendary Lynn Alden saying this as well. 18 00:01:05,920 --> 00:01:08,440 We'll play you guys a clip in just a little bit. 19 00:01:09,600 --> 00:01:12,080 But he says. It should, it should be, but 20 00:01:12,080 --> 00:01:14,640 it's not. The valuation trend broke down 21 00:01:14,640 --> 00:01:17,520 once quantum came into awareness. 22 00:01:17,640 --> 00:01:21,400 Don't read this post if you want to stay high on opium instead of 23 00:01:21,400 --> 00:01:25,040 seeing things as they are now. What's quite interesting as 24 00:01:25,040 --> 00:01:28,520 well, ladies and gentlemen, is that around this time Michael 25 00:01:28,520 --> 00:01:31,760 Saylor, specifically, I believe in his last earnings report 26 00:01:31,760 --> 00:01:35,400 Opti, he said that he was going to focus some of strategies 27 00:01:35,400 --> 00:01:38,760 resources into the whole quantum thing. 28 00:01:39,000 --> 00:01:43,960 So a lot of a lot of people are looking into the quantum threats 29 00:01:43,960 --> 00:01:47,160 or the yeah, I mean, you, you, you should call it a threat. 30 00:01:47,160 --> 00:01:52,520 That's what it is, a quantum threat to Bitcoin as a problem, 31 00:01:52,520 --> 00:01:56,720 as a real problem. And potentially it's giving some 32 00:01:56,720 --> 00:02:00,000 investors cold feet, specifically traditional 33 00:02:00,000 --> 00:02:03,040 financial investors. Now what I what I will say about 34 00:02:03,040 --> 00:02:05,680 this as well is from the research, and again, I'm a media 35 00:02:05,680 --> 00:02:07,960 guy. I'm not really a, a tech guy to, 36 00:02:08,039 --> 00:02:11,760 you know, talk, you know, at an expert level about quantum 37 00:02:11,760 --> 00:02:14,080 computing. But I, I have done a lot of 38 00:02:14,080 --> 00:02:18,760 research on the topic and from my understanding is that any 39 00:02:18,760 --> 00:02:24,600 type of quantum related threat is still at least a decade away, 40 00:02:25,200 --> 00:02:28,280 perhaps even longer than that. So we're 10 years out. 41 00:02:28,280 --> 00:02:31,480 Think about how long 10 years is like think about where you were 42 00:02:31,680 --> 00:02:34,720 in life 10 years ago. Think about where Bitcoin was 10 43 00:02:34,720 --> 00:02:36,920 years ago. That's not to say it's not 44 00:02:36,920 --> 00:02:40,640 important to get ahead of it, but I do believe that the 45 00:02:40,640 --> 00:02:43,080 threats are a little bit overblown. 46 00:02:43,080 --> 00:02:48,280 And the reason I'm saying that is because quantum computing 47 00:02:48,280 --> 00:02:52,600 threatens all traditional encryption, not just Bitcoin. 48 00:02:52,840 --> 00:02:57,600 So your banks, your banking account, your favorite messaging 49 00:02:57,600 --> 00:03:02,520 app, anything that is sensitive, that relies on encryption, 50 00:03:03,320 --> 00:03:07,600 quantum threatens all of that. It's not just Bitcoin in and of 51 00:03:07,600 --> 00:03:12,280 itself. So again, you know, obviously 52 00:03:13,240 --> 00:03:17,520 cryptographers have to get ahead of this as a whole and there is 53 00:03:17,520 --> 00:03:20,360 already kind of proposed solutions for all of this. 54 00:03:20,640 --> 00:03:26,960 So anyways, Willy Woo gets into the thick of it and he has a, a, 55 00:03:26,960 --> 00:03:31,160 a chart Bitcoin verse gold, Quantum Bitcoin summit. 56 00:03:31,400 --> 00:03:34,280 He's, you know, he's, he's pointing the arrow and then 57 00:03:34,280 --> 00:03:38,280 first mention of Quantum on core dev mailing list. 58 00:03:38,480 --> 00:03:43,160 And he again, he's making the case that this is the reason as 59 00:03:43,160 --> 00:03:48,960 to why Bitcoin is not appreciating higher than gold. 60 00:03:49,160 --> 00:03:53,880 And it's actually broken that trend line that it's held really 61 00:03:54,000 --> 00:03:58,600 since 2013. That trend, that trend line has 62 00:03:58,600 --> 00:04:02,560 officially broken down. And I mean, if you compare this 63 00:04:02,560 --> 00:04:06,120 to what happened last year with Bitcoin and gold, Bitcoin and 64 00:04:06,120 --> 00:04:10,400 gold had an amazing year where it actually outperformed Bitcoin 65 00:04:10,560 --> 00:04:15,200 and ended the year with 60% up. Gold ended the year, I mean, 66 00:04:15,200 --> 00:04:20,160 Bitcoin ended the year with like 8% down and silver did well 67 00:04:20,160 --> 00:04:23,040 also. But a key question here, ladies 68 00:04:23,040 --> 00:04:27,600 and gentlemen, is that the gold does not solve the problem that 69 00:04:27,600 --> 00:04:31,920 Bitcoin solves. In fact, we've tried this whole 70 00:04:31,920 --> 00:04:34,320 gold thing already. We've tried it. 71 00:04:34,680 --> 00:04:38,240 And the problem with gold is its physical characteristics. 72 00:04:38,240 --> 00:04:42,120 You can't really transport gold anywhere around the world for 73 00:04:42,120 --> 00:04:45,680 pennies on the dollar. That leads to the centralization 74 00:04:45,680 --> 00:04:48,080 of the custody of gold because it's very heavy. 75 00:04:48,320 --> 00:04:50,240 You want heavy security around it. 76 00:04:51,200 --> 00:04:55,000 It's not absolutely scarce. So if you compare Bitcoin with 77 00:04:55,000 --> 00:04:58,640 gold in terms of characteristics, Bitcoin you 78 00:04:58,640 --> 00:05:02,320 know, beats gold in every single sense. 79 00:05:02,480 --> 00:05:05,600 However, it seems like the market is not interpreting that. 80 00:05:05,840 --> 00:05:08,880 Some people are saying that Bitcoin is just playing catch 81 00:05:08,880 --> 00:05:10,960 up. So anyways, but this is I think 82 00:05:10,960 --> 00:05:14,280 a really good point from Willy Woo, basically pointing out that 83 00:05:14,280 --> 00:05:18,560 the trend has been broken. He goes on to say likely BTC 84 00:05:18,560 --> 00:05:21,440 will be patched with quantum resistant signatures. 85 00:05:21,720 --> 00:05:26,200 This doesn't fix the issue of 4 million lost coins coming back 86 00:05:26,200 --> 00:05:31,080 into circulation. I'd say it's 75% chance that 87 00:05:31,080 --> 00:05:34,520 lost coins will not be frozen by a protocol hard fork. 88 00:05:34,920 --> 00:05:39,280 So the risk adjusted sale 4 million coins needs to be priced 89 00:05:39,280 --> 00:05:41,480 in. To put this in perspective, 90 00:05:41,680 --> 00:05:45,280 since strategy started accumulating BTC in 2020, 91 00:05:45,560 --> 00:05:50,560 setting a trend, only a total of 2.8 million BTC have been 92 00:05:50,560 --> 00:05:56,320 accumulated by all companies and spot it and spot ETFs. 4 million 93 00:05:56,320 --> 00:06:00,240 lost coins equals 8 years of enterprise accumulation. 94 00:06:00,600 --> 00:06:03,600 The market has already started pricing in the return of those 95 00:06:03,600 --> 00:06:08,440 lost coins ahead of time. This process completes once the 96 00:06:08,440 --> 00:06:14,760 Q day risk is off the table. Until then, BTCUSD will price in 97 00:06:14,760 --> 00:06:19,880 this risk. QDQ day is 5 to 15 years away. 98 00:06:20,120 --> 00:06:23,240 That's a long time training with the cloud over its head. 99 00:06:23,600 --> 00:06:28,360 Unfortunately, the next 10 years is when Bitcoin is most needed. 100 00:06:28,720 --> 00:06:31,440 It's the end of the long term debt cycle. 101 00:06:31,600 --> 00:06:36,120 It's where macro investors and sovereigns run into hard assets 102 00:06:36,120 --> 00:06:39,320 like gold to shelter from global debt deleveraging. 103 00:06:39,640 --> 00:06:44,720 Hence Gold Moons without BTC. Adam Back describes a path where 104 00:06:44,720 --> 00:06:50,000 vulnerable signatures such as Satoshi era, PTPK, and the 105 00:06:50,000 --> 00:06:53,880 latest Taproot addresses can be frozen via soft fork. 106 00:06:54,200 --> 00:06:57,360 Effectively, this implementation, if chosen, would 107 00:06:57,360 --> 00:06:59,600 be the path to freeze lost coins. 108 00:07:00,080 --> 00:07:06,160 Here is Adam Back responding to a a tread, you know thing going 109 00:07:06,160 --> 00:07:09,960 back and forth. Adam back responds and then 110 00:07:09,960 --> 00:07:17,800 insecure signature algorithm is. How do you say that up to you 111 00:07:17,800 --> 00:07:20,720 depreciable? I'm not even going to try that. 112 00:07:20,720 --> 00:07:22,560 I wasn't even going to get that without your help. 113 00:07:22,920 --> 00:07:25,400 Via soft fork. No hard fork required. 114 00:07:25,720 --> 00:07:28,400 Bitplates responds with. Isn't quantum computing 115 00:07:28,400 --> 00:07:31,560 irrelevant if the public key is never revealed? 116 00:07:31,960 --> 00:07:36,760 Never been spent from a Bitcoin address so your coins are safe 117 00:07:36,760 --> 00:07:39,840 for maybe 25 plus years until short range attacks are 118 00:07:39,840 --> 00:07:41,600 possible. Doesn't mean the market won't 119 00:07:41,600 --> 00:07:44,720 price in the risk of Satoshi's coins being hacked or dumped. 120 00:07:45,000 --> 00:07:47,880 Early signatures and latest Tapper signatures have their 121 00:07:47,880 --> 00:07:51,280 public keys in the open. Adam Back says don't think it's 122 00:07:51,280 --> 00:07:53,680 realistic. Insecure signature algorithms, 123 00:07:53,680 --> 00:07:57,600 whether due to classical crypto analysis, attacks on discrete 124 00:07:57,600 --> 00:08:00,280 log or cryptographically relevant quantum computers, 125 00:08:00,480 --> 00:08:05,840 would get deprecated, same as other crypto schemes going back 126 00:08:05,840 --> 00:08:11,600 decades in Internet protocols. So it's not only Willy Wu saying 127 00:08:11,600 --> 00:08:13,840 this as well. And again, this goes back to 128 00:08:13,840 --> 00:08:18,440 20202025. He says, all good, I sold all of 129 00:08:18,440 --> 00:08:19,800 mine. And again, this is making the 130 00:08:19,800 --> 00:08:22,000 announcement that he sold all his Bitcoin. 131 00:08:22,240 --> 00:08:25,680 I think Fred Krueger actually asks a very important question 132 00:08:25,880 --> 00:08:29,800 to do what, which we'll get to that in just a second. 133 00:08:30,040 --> 00:08:35,159 But it's not only Willy Wu, you know, mentioning the quantum 134 00:08:35,159 --> 00:08:38,520 stuff, it's also Lynn Alden. Here is Lynn Alden, one of the 135 00:08:38,520 --> 00:08:43,720 latest episodes of Bank Lists. And into the other question, I 136 00:08:43,720 --> 00:08:46,800 have been, you know, Bitcoin has underperformed my expectations 137 00:08:46,800 --> 00:08:49,320 in this particular cycle. You know, I started out with 138 00:08:49,320 --> 00:08:52,120 conservative expectations, which was the I thought the 2021 139 00:08:52,120 --> 00:08:54,520 cycle, I thought we'd get to a trillion market cap. 140 00:08:54,520 --> 00:08:56,680 We did. Once we got there, I was like, 141 00:08:56,680 --> 00:08:58,480 yeah, I could see us hitting 100K this cycle. 142 00:08:58,480 --> 00:09:00,480 We did. And we only got to like 69 K. 143 00:09:00,520 --> 00:09:04,760 So my, my kind of revised bullish take wasn't quite met. 144 00:09:04,880 --> 00:09:07,480 Even my first one was let me go into the bear market. 145 00:09:08,520 --> 00:09:10,920 Then I, I basically said I'm not really going to try to make a 146 00:09:10,920 --> 00:09:13,560 price target this cycle, but I went pushed. 147 00:09:13,560 --> 00:09:17,000 I would say anything under 150K is kind of disappointing and we 148 00:09:17,040 --> 00:09:19,680 only got to 126. So I would say it's, it is kind 149 00:09:19,680 --> 00:09:22,480 of a second, you know, kind of a lackluster cycle. 150 00:09:23,520 --> 00:09:26,480 I think treasury companies took some of the euphoria out of it. 151 00:09:26,480 --> 00:09:29,280 So some of the money that might otherwise have gone into say 152 00:09:29,360 --> 00:09:34,200 just cold storage Bitcoin goes into, you know, leveraged shares 153 00:09:34,240 --> 00:09:36,600 of these treasury companies that are trading at X times, you 154 00:09:36,600 --> 00:09:39,760 know, MNAV, which takes some of the price action out. 155 00:09:40,120 --> 00:09:42,400 So I think maybe without those you could have gotten a little 156 00:09:42,400 --> 00:09:45,120 higher, but then also they they were also partially fueling the 157 00:09:45,120 --> 00:09:48,280 buying of it to some degree, especially micro strategy. 158 00:09:49,280 --> 00:09:51,640 So yeah, I think the overall this was a, a somewhat 159 00:09:51,640 --> 00:09:54,640 disappointing cycle. It doesn't change my long term 160 00:09:54,640 --> 00:09:56,520 thesis about it. And that basically a, a 161 00:09:56,520 --> 00:10:00,400 decentralized Ledger is still very valuable. 162 00:10:01,000 --> 00:10:03,040 It's the only way to do, you know, that we know of to do 163 00:10:03,040 --> 00:10:07,000 permissionless payments and portable secure savings. 164 00:10:07,640 --> 00:10:09,800 And then the second part of the thesis is, well, that these 165 00:10:09,800 --> 00:10:13,120 things have network effects. So you pick one that you view as 166 00:10:13,120 --> 00:10:16,520 decentralized secure and is likely to win the basically the 167 00:10:16,600 --> 00:10:18,440 liquidity war, the network effect war. 168 00:10:18,960 --> 00:10:21,160 Obviously we have, we have disagreements around say Bitcoin 169 00:10:21,160 --> 00:10:24,080 versus Ethereum and others. I've been in the, the Bitcoin 170 00:10:24,080 --> 00:10:26,480 camp, which is OK. So decentralized Ledger is 171 00:10:26,480 --> 00:10:28,960 valuable. That's the largest, most liquid 172 00:10:29,120 --> 00:10:30,880 one. It, it's kind of the one that's 173 00:10:30,880 --> 00:10:34,400 kind of geared towards simplicity and, and kind of, you 174 00:10:34,400 --> 00:10:38,000 know, maximal decentralization. And so the thesis is that would, 175 00:10:38,120 --> 00:10:41,360 would continue holding up and also has bullish on stable coins 176 00:10:41,360 --> 00:10:43,760 along the way as well, even though they run on largely other 177 00:10:43,760 --> 00:10:47,400 rails. And I would say in this cycle, 178 00:10:47,880 --> 00:10:50,640 you know, big Bitcoin is still, you know, dominant 179 00:10:50,720 --> 00:10:53,000 cryptocurrency. So 17 years in, I think that 180 00:10:53,000 --> 00:10:54,400 part of thesis continues to hold up. 181 00:10:54,400 --> 00:10:57,760 Well, you know, people have their their views on quantum and 182 00:10:57,760 --> 00:11:00,600 other factors that contribute over the next 5-10 fifteen 183 00:11:00,600 --> 00:11:02,120 years. But so far, I say that part of 184 00:11:02,120 --> 00:11:04,600 thesis is on track and the part that's going slower than 185 00:11:04,600 --> 00:11:08,360 expected is just the demand for any decentralized Ledger, which 186 00:11:08,360 --> 00:11:11,680 is I still think it's valuable, but I do think the world's kind 187 00:11:11,680 --> 00:11:14,240 of maybe a little slower to recognize its use. 188 00:11:16,120 --> 00:11:21,040 So back to, you know, some other people's opinions on this as 189 00:11:21,040 --> 00:11:23,760 well, right? Whether you guys like it or not, 190 00:11:23,800 --> 00:11:30,760 the quantum fear is a big one in the eyes of investors and could 191 00:11:30,760 --> 00:11:36,080 be playing a role as to why gold has been outperforming Bitcoin 192 00:11:36,840 --> 00:11:40,760 for the last year or so now. Here's some more takes on the 193 00:11:40,760 --> 00:11:45,760 quantum related side of things. Here is Tama Bees has a lot of 194 00:11:45,760 --> 00:11:48,080 quantum FUD. By the way, the quantum FUD has 195 00:11:48,080 --> 00:11:51,120 been around for a long time. Ever since I've been in this 196 00:11:51,120 --> 00:11:53,600 industry, you've been hearing about the quantum FUD. 197 00:11:54,640 --> 00:11:58,320 So really, I remember since 20/17/2018 you were hearing 198 00:11:58,320 --> 00:12:03,720 about the quantum FUD and it's been what, almost a decade later 199 00:12:03,720 --> 00:12:05,880 and you're still hearing about the quantum FUD. 200 00:12:06,080 --> 00:12:09,760 I think the only difference between that era and time and 201 00:12:09,760 --> 00:12:12,920 now is there's a lot more money on the line. 202 00:12:13,040 --> 00:12:15,600 There are publicly traded companies, there are sovereign 203 00:12:15,600 --> 00:12:18,400 wealth funds. Back then we were just a, we 204 00:12:18,400 --> 00:12:23,240 were with bunch of plebs, you know, dollar cost averaging $100 205 00:12:23,240 --> 00:12:26,360 a day, right? If you are sovereign wealth fund 206 00:12:26,560 --> 00:12:31,440 or if you're a nation state, you obviously don't want to put your 207 00:12:31,440 --> 00:12:34,200 cover your your country's wealth into something that could 208 00:12:34,240 --> 00:12:38,120 potentially be compromised by quantum computing, which is why 209 00:12:38,120 --> 00:12:42,560 I believe it holds this quantum narrative holds a lot more 210 00:12:42,560 --> 00:12:45,840 weight now than it did back then when we were just a bunch of D 211 00:12:45,840 --> 00:12:49,560 Jens in the trenches of Bitcoin slash crypto Twitter. 212 00:12:50,040 --> 00:12:56,080 Any who So it goes on to say what if 4 million lost coins say 213 00:12:56,080 --> 00:13:00,560 75% recoverable? Whoever breaks it knows dumping 214 00:13:00,560 --> 00:13:03,920 crash crashes price. So they sell OTC to the US 215 00:13:03,920 --> 00:13:07,240 government at a discount. 50% price doesn't move or even goes 216 00:13:07,240 --> 00:13:08,560 up. Is that a feasibility? 217 00:13:08,560 --> 00:13:12,040 Wicked, who's been pretty well known in the space, He's been 218 00:13:12,040 --> 00:13:15,080 around here a long time. He says it won't be 4 million 219 00:13:15,080 --> 00:13:17,360 coins. Most exposed coins will be moved 220 00:13:17,360 --> 00:13:20,320 as soon as the threat emerges. And they'll be lucky if they get 221 00:13:20,320 --> 00:13:24,240 2 million tone tone vase responds. 222 00:13:24,480 --> 00:13:28,040 Also I don't understand why everyone is expecting all these 223 00:13:28,040 --> 00:13:30,040 keys to be broken on the same day. 224 00:13:30,320 --> 00:13:33,720 Say quantum computing. Did quantum computer did crack 1 225 00:13:33,720 --> 00:13:37,240 of Satoshi's old keys? It would probably have taken 5 226 00:13:37,240 --> 00:13:41,240 plus years of attacking one wallet for 50 BTC. 227 00:13:41,480 --> 00:13:45,080 The worst case scenario is another few years before 50 more 228 00:13:45,080 --> 00:13:48,800 coins get cracked. Maybe by 2050 we will be at one 229 00:13:48,800 --> 00:13:52,160 wallet per day possibility parentheses. 230 00:13:52,160 --> 00:13:56,280 And even that is probably a crazy 10X overestimate of 231 00:13:56,280 --> 00:13:59,880 quantum risk. So I personally, my own 232 00:13:59,880 --> 00:14:03,600 perception of this based on research is I think that these 233 00:14:03,600 --> 00:14:08,520 threats are overblown. Here are Global's takes on this. 234 00:14:08,520 --> 00:14:12,840 And he says in approximately 18 months we will discover how 235 00:14:12,840 --> 00:14:16,520 quantum computers actually require Bitcoin mining's massive 236 00:14:17,160 --> 00:14:21,720 hash rate as entropy to entangle atoms, Much like how the carbon 237 00:14:21,720 --> 00:14:25,760 emissions FUD ended up with mining as a technique to reduce 238 00:14:25,760 --> 00:14:29,840 global CO2. This will mean no one will dare 239 00:14:29,840 --> 00:14:33,280 attack Bitcoin and effectively destroy their QC. 240 00:14:33,320 --> 00:14:36,320 The most entertaining outcome is the most likely. 241 00:14:36,320 --> 00:14:39,240 I really like that take, but I don't know who knows. 242 00:14:39,760 --> 00:14:42,880 Anyways, here is kind of like the Twitter news AG. 243 00:14:42,920 --> 00:14:47,760 I think an AI does a summary of this and it says Bitcoin plunges 244 00:14:47,760 --> 00:14:52,280 to decade low against gold amid quantum fears on chain analyst 245 00:14:52,280 --> 00:14:55,800 Willie Wu shares a chart showing Bitcoin trading at historic lows 246 00:14:55,800 --> 00:15:02,320 against gold around 14 to 18 oz per BTC as gold surges on safe 247 00:15:02,320 --> 00:15:06,720 haven demand. While Bitcoin lags, fears center 248 00:15:06,720 --> 00:15:10,760 around, Herbetter said on quantum computers potentially 249 00:15:10,760 --> 00:15:16,600 unlocking 4 million dormant BTC from pre 2011 wallets, though 250 00:15:16,600 --> 00:15:19,320 experts say such machines are years away. 251 00:15:19,520 --> 00:15:24,800 Post 2030, voices like Ray Dalio push gold amid global tension 252 00:15:25,000 --> 00:15:28,520 and U.S. debt woes, while Bitcoin advocates like Michael 253 00:15:28,520 --> 00:15:33,560 Saylor counter that it offers no true no counterparty safety, 254 00:15:33,800 --> 00:15:38,040 highlighting A deepening divide on what counts as the real store 255 00:15:38,040 --> 00:15:43,040 of value. And I do want to refer to Ray 256 00:15:43,040 --> 00:15:48,840 Dalio's thread on this 'cause he recently just dropped it and 257 00:15:49,400 --> 00:15:52,320 it's actually pretty good article or thread or whatever. 258 00:15:52,320 --> 00:15:55,280 It's an article really. And he he makes a claim. 259 00:15:55,280 --> 00:15:59,000 It's official. The world order has broken down 260 00:16:00,000 --> 00:16:03,640 and it's funny you see sailor here in the comments responding 261 00:16:03,640 --> 00:16:07,120 basically that hey, if you believe the world older is 262 00:16:07,120 --> 00:16:11,960 breaking down own the asset with no counterparty Bitcoin of you 263 00:16:11,960 --> 00:16:16,800 got Simon Dixon in here and this is basically the theory of Ray 264 00:16:16,800 --> 00:16:18,760 Dalio. The theory of Ray Dalio. 265 00:16:18,760 --> 00:16:21,440 If you guys have seen his YouTube videos or read his book 266 00:16:21,880 --> 00:16:27,480 is that empires last in kind of two 250 year cycles and 267 00:16:27,480 --> 00:16:32,840 basically the last in 250 years. We've seen the rise of the 268 00:16:32,840 --> 00:16:36,080 United States, which he makes the case is on the decline 269 00:16:36,280 --> 00:16:40,000 before that the British Empire, before that the Dutch. 270 00:16:40,360 --> 00:16:43,520 And he's making the case, Ray Dalio makes the case that it's 271 00:16:43,520 --> 00:16:48,360 actually China that that is taking the place of the United 272 00:16:48,360 --> 00:16:52,000 States. And in between these, you know, 273 00:16:52,000 --> 00:16:57,360 overlapping, you know, empirical cycles, so to speak, there's 274 00:16:57,360 --> 00:17:00,920 actually tension and actually the global order breaks down. 275 00:17:01,200 --> 00:17:02,960 And this is kind of where we are in the movie. 276 00:17:02,960 --> 00:17:05,040 This is the whole basis of his book. 277 00:17:05,040 --> 00:17:07,560 This is whole the whole basis of his theory. 278 00:17:07,720 --> 00:17:12,359 And this is the explanation as to why gold is going up now from 279 00:17:12,359 --> 00:17:16,319 a Bitcoiners perspective, going back to Willy Wu's case. 280 00:17:17,280 --> 00:17:23,720 Listen guys, at the end of the day, if you put ideal ideologies 281 00:17:23,720 --> 00:17:29,600 aside, I'm a free market maxi. I, I, I truly believe in the 282 00:17:29,600 --> 00:17:32,120 free market. I think the market is the 283 00:17:32,120 --> 00:17:36,160 ultimate source of truth. I think you can have opinions, 284 00:17:36,160 --> 00:17:39,400 you can have ideas, but ultimately the, the market is 285 00:17:39,400 --> 00:17:43,120 going to get to determine what is the truth, what is valuable 286 00:17:44,960 --> 00:17:49,800 at at a much higher degree of accuracy than any one person or 287 00:17:49,800 --> 00:17:53,200 anyone opinion those that's the power of markets. 288 00:17:53,200 --> 00:17:56,960 That's how I feel about markets. And ultimately the market is 289 00:17:56,960 --> 00:18:01,000 speaking the the, the market is making its voice heard. 290 00:18:01,280 --> 00:18:07,760 And this kind of reminds me of the early days of of stable 291 00:18:07,760 --> 00:18:10,280 coins. The original thesis was that 292 00:18:10,560 --> 00:18:14,680 Bitcoin was going to be the currency in developing markets. 293 00:18:14,680 --> 00:18:19,040 Because developing markets had relatively unstable Fiat 294 00:18:19,040 --> 00:18:21,440 currencies. And because they had relatively 295 00:18:21,560 --> 00:18:25,200 unstable Fiat currencies, they would need a non sovereign 296 00:18:25,200 --> 00:18:28,440 decentralized alternative that their local governments couldn't 297 00:18:28,440 --> 00:18:31,040 shut down. Now here's the thing. 298 00:18:31,600 --> 00:18:35,800 That theory ended up playing out, but it wasn't Bitcoin. 299 00:18:35,800 --> 00:18:40,080 That was the currency that is being used the most in 300 00:18:40,080 --> 00:18:43,280 developing markets. It ended up becoming tethered. 301 00:18:43,280 --> 00:18:46,840 It ended up becoming stablecoin. So people did want an 302 00:18:46,840 --> 00:18:50,520 alternative to local currencies, but it wasn't Bitcoin. 303 00:18:50,640 --> 00:18:53,040 It was actually Tether that took that spot. 304 00:18:53,200 --> 00:18:56,360 And the reason for that is because Bitcoin was too volatile 305 00:18:56,480 --> 00:18:59,320 and most people don't have disposable income. 306 00:18:59,680 --> 00:19:02,440 Bitcoin I think is the best saving things the world has ever 307 00:19:02,440 --> 00:19:04,600 seen. But if you're living paycheck to 308 00:19:04,600 --> 00:19:14,960 paycheck and bitcoins volatility purchasing power, most people 309 00:19:14,960 --> 00:19:17,920 that are living paycheck to paycheck are not interested in 310 00:19:17,920 --> 00:19:20,080 that. What they're interested in is 311 00:19:20,080 --> 00:19:21,800 being able to put food on the table. 312 00:19:21,800 --> 00:19:24,560 I think this is where stablecoins solve that problem, 313 00:19:25,280 --> 00:19:28,800 that the reason I'm bringing up that example is because that's 314 00:19:28,800 --> 00:19:31,080 an example of the free market speaking. 315 00:19:31,080 --> 00:19:34,160 That's an example of the free market getting to decide. 316 00:19:34,160 --> 00:19:37,880 Listen, like, yeah, your Bitcoin thesis was great. 317 00:19:37,880 --> 00:19:41,960 It was fine. However, that's not actually 318 00:19:41,960 --> 00:19:44,360 what the market wanted. The market actually wanted 319 00:19:44,360 --> 00:19:46,760 something more stable, more stable. 320 00:19:47,000 --> 00:19:51,440 It actually wanted AUS dollar alternative or U.S. dollar 321 00:19:51,440 --> 00:19:54,400 equivalent that people can transact with in these 322 00:19:54,400 --> 00:19:57,840 countries. And the market has shown that. 323 00:19:58,240 --> 00:20:01,240 Now. The market is showing right now, 324 00:20:01,240 --> 00:20:03,520 whether people like it or not, that. 325 00:20:05,520 --> 00:20:10,800 That they value gold for whatever fucking reason, Excuse 326 00:20:10,800 --> 00:20:15,000 my language, like it for me, for my perspective, I do like 327 00:20:15,000 --> 00:20:20,120 physical gold, but there's a limitation to physical gold. 328 00:20:20,120 --> 00:20:22,400 And that that limitation is its fair. 329 00:20:22,400 --> 00:20:25,240 It is its very physical characteristics. 330 00:20:25,520 --> 00:20:29,600 Also, if you have like $1,000,000 worth of gold and you 331 00:20:29,840 --> 00:20:32,560 go try to sell that, go try to sell that. 332 00:20:33,600 --> 00:20:37,360 You're going to get like 20-30 percent below spot price. 333 00:20:37,360 --> 00:20:42,160 If you try to sell that all in one go, you can't transport it 334 00:20:42,640 --> 00:20:46,840 effectively. Let's say you have to flee your 335 00:20:46,840 --> 00:20:51,160 jurisdiction because of a a government persecution. 336 00:20:52,640 --> 00:20:55,000 Good luck crossing the border with that gold. 337 00:20:55,560 --> 00:20:58,320 This is this is where Bitcoin solves the problem. 338 00:20:58,320 --> 00:21:01,200 This is why Michael Saylor is talking about no, no 339 00:21:01,200 --> 00:21:04,920 counterparty risk it it does solve that problem. 340 00:21:04,920 --> 00:21:08,280 Like whether you like it, it that's just the reality of it. 341 00:21:08,640 --> 00:21:14,480 So you know there is a solution to this, this quantum perceived 342 00:21:14,600 --> 00:21:18,480 threat. I don't, I don't I, I, I don't 343 00:21:18,560 --> 00:21:23,280 see quantum computing being an issue for the foreseeable 344 00:21:23,280 --> 00:21:27,440 future. But I think Willy Woo does have 345 00:21:27,440 --> 00:21:32,320 a point here in terms of this could actually be something that 346 00:21:32,320 --> 00:21:38,680 the markets are perceiving as a potential, you know, a potential 347 00:21:38,680 --> 00:21:42,880 threat to Bitcoin, Not necessarily the Bitcoin protocol 348 00:21:42,880 --> 00:21:47,600 as a whole, not necessarily the value proposition of Bitcoin. 349 00:21:47,840 --> 00:21:51,960 But the market is basically saying, look like these 4 350 00:21:51,960 --> 00:21:56,840 million coins might be dumped on the market it in the next 10 351 00:21:56,840 --> 00:22:00,880 years or so, 10/15/20 years. That could be a thing. 352 00:22:01,200 --> 00:22:03,720 And if you're, you know, if you're trading or if you're 353 00:22:03,720 --> 00:22:07,400 trying to put, you know, value into Bitcoin, you're essentially 354 00:22:07,400 --> 00:22:09,400 pricing that in. And that's the case that he's 355 00:22:09,400 --> 00:22:12,040 making. Simultaneously, though, we have 356 00:22:12,040 --> 00:22:16,120 to be honest and we have to be true about incentives because 357 00:22:16,120 --> 00:22:18,560 incentives ultimately rule the world. 358 00:22:19,400 --> 00:22:24,120 I think it was the the, the late Charlie Munger that said a very 359 00:22:24,120 --> 00:22:25,960 famous quote. He said, if you want to see the 360 00:22:25,960 --> 00:22:32,240 outcome, show me the incentives. Ultimately, Willy Wu sold all 361 00:22:32,240 --> 00:22:37,280 his Bitcoin. So what is Willy Wu? 362 00:22:37,280 --> 00:22:41,160 Incentivize What? What would what would make Willy 363 00:22:41,160 --> 00:22:44,360 Wu's day if the price of Bitcoin went down? 364 00:22:44,520 --> 00:22:45,760 Why? Because he could buy more 365 00:22:45,760 --> 00:22:50,840 Bitcoin. So you know, it, we could just 366 00:22:50,840 --> 00:22:54,160 be writing a situation where gold outperformed. 367 00:22:54,160 --> 00:22:57,440 There's, I don't think anyone could have told you in January, 368 00:22:57,440 --> 00:23:01,520 January of 2025 that gold would have outperformed Bitcoin. 369 00:23:02,920 --> 00:23:08,600 But you could be making a case that this is an opportunist 370 00:23:08,600 --> 00:23:11,640 post, right? It's kind of like hindsight 371 00:23:11,640 --> 00:23:13,960 2020. It's like you're looking back 372 00:23:13,960 --> 00:23:17,000 and you're like, oh, it was obvious this was this was going 373 00:23:17,000 --> 00:23:22,400 to happen. And let me craft my post based 374 00:23:22,400 --> 00:23:24,680 on the current market sentiment, right? 375 00:23:25,480 --> 00:23:28,360 That could, you could make a very good argument against that. 376 00:23:28,360 --> 00:23:32,760 I mean, for that, right. My again, my personal take on 377 00:23:32,760 --> 00:23:36,600 this is I don't think quantum computing is a threat to your 378 00:23:36,600 --> 00:23:40,520 Bitcoin or to Bitcoin in general for at least a decade. 379 00:23:40,520 --> 00:23:42,920 I think even more than that, to be honest. 380 00:23:43,160 --> 00:23:47,840 I think theoretically that it theoretically it could be a 381 00:23:47,840 --> 00:23:52,400 threat, but I don't think for the foreseeable future. 382 00:23:52,760 --> 00:23:56,360 But that's not to say that investors are not spooked. 383 00:23:56,560 --> 00:24:01,760 Simultaneously, me and Opti did get a very interesting text 384 00:24:01,760 --> 00:24:05,840 message late last night. I think we'll talk about it 385 00:24:05,840 --> 00:24:07,760 tomorrow. OK, we'll talk about it 386 00:24:07,760 --> 00:24:10,680 tomorrow. But basically the TLDR is this. 387 00:24:11,120 --> 00:24:15,760 Some very powerful, influential, politically connected people are 388 00:24:15,760 --> 00:24:20,160 continuing to buy massive amounts of Bitcoin. 389 00:24:20,600 --> 00:24:26,160 So if, you know, they perceived quantum computing to be the 390 00:24:26,160 --> 00:24:29,800 threat that it was, then they wouldn't be doing this. 391 00:24:30,080 --> 00:24:32,680 It's also not those people that we're not going to talk about 392 00:24:32,680 --> 00:24:34,680 today, but it's also the country of El Salvador. 393 00:24:34,680 --> 00:24:38,680 The country of El Salvador continues to buy a Bitcoin a day 394 00:24:39,560 --> 00:24:44,480 and that hasn't stopped. So yeah, I mean, that's kind of 395 00:24:44,480 --> 00:24:46,680 the TLDR right now. I think that this is just an 396 00:24:46,680 --> 00:24:50,280 excuse as to why Bitcoin isn't going up. 397 00:24:50,560 --> 00:24:52,920 I think this is kind of like a justification. 398 00:24:52,920 --> 00:24:56,440 I think this is like Monday, Monday morning quarterbacking. 399 00:24:56,440 --> 00:24:59,680 I think this is just like not diagnosing the problem. 400 00:24:59,680 --> 00:25:04,880 Like people just kind of confused if I were to and and so 401 00:25:04,880 --> 00:25:08,440 far I've been right about this. If I were to look at the 402 00:25:08,440 --> 00:25:10,720 previous cycle, I do agree with Lynn. 403 00:25:10,880 --> 00:25:14,000 I do agree with a lot of other, you know, notable people in the 404 00:25:14,000 --> 00:25:16,880 space that it was a disappointing cycle for without 405 00:25:16,880 --> 00:25:19,760 a shadow of a doubt. I think expectations are running 406 00:25:19,760 --> 00:25:22,360 high. But I do remember that in the 407 00:25:22,360 --> 00:25:29,040 beginning of 2025 when we were in the euphoria Phase, I do 408 00:25:29,040 --> 00:25:32,520 remember when Bitcoin was making all time highs versus gold. 409 00:25:32,840 --> 00:25:39,200 I do remember telling Opti something and I said, you know, 410 00:25:39,200 --> 00:25:43,120 what worries me about this year is that everyone is treating 411 00:25:43,120 --> 00:25:46,840 this as a sure bet that Bitcoin is going to make all time highs 412 00:25:46,840 --> 00:25:52,400 at the end of the year. And markets don't behave that 413 00:25:52,400 --> 00:25:55,200 way. Like if everyone thinks that 414 00:25:55,200 --> 00:25:59,480 Bitcoin is going to make all time highs, that that's not the 415 00:25:59,480 --> 00:26:01,600 way markets work. Bitcoin isn't going to make all 416 00:26:01,600 --> 00:26:05,160 time highs, right? Markets do the exact opposite of 417 00:26:05,160 --> 00:26:07,600 what the consensus believes and thinks. 418 00:26:08,800 --> 00:26:12,560 So, yeah, I mean, quite, quite interesting theory here on Willy 419 00:26:12,560 --> 00:26:13,520 Wu. Optia. 420 00:26:13,520 --> 00:26:16,400 I do want to get your take on all this, man, because the 421 00:26:16,400 --> 00:26:21,520 quantum computing argument or FUD or whatever threat, dude, 422 00:26:21,520 --> 00:26:25,160 this has been around since you and I have both got into this 423 00:26:25,160 --> 00:26:27,920 industry. This is not something old or or 424 00:26:27,920 --> 00:26:34,280 new, but most importantly, man, like I think that this is just a 425 00:26:34,280 --> 00:26:38,760 justification or or or or or trying to like a like a coping 426 00:26:38,760 --> 00:26:42,760 mechanism as to why Bitcoin didn't perform the way that it 427 00:26:42,760 --> 00:26:46,040 did in the previous year. That that that's, that's what I 428 00:26:46,040 --> 00:26:49,280 that's what I see in my honest opinion. 429 00:26:49,480 --> 00:26:51,200 I'd love to hear your thoughts. Yeah. 430 00:26:51,200 --> 00:26:53,600 No, I, I'm totally on board with what you said. 431 00:26:53,600 --> 00:26:55,880 I, I personally think that this is cope. 432 00:26:56,120 --> 00:26:58,800 We've seen the reason we're really talking about it is 433 00:26:58,800 --> 00:27:00,600 because we are seeing, it's not just Willy Woo. 434 00:27:00,600 --> 00:27:03,040 We're, we're seeing a lot of people talk about the quantum 435 00:27:03,040 --> 00:27:07,040 concerns here. And obviously as a Bitcoiner you 436 00:27:07,040 --> 00:27:09,520 do, it does kind of perk your attention at first you're like, 437 00:27:09,520 --> 00:27:12,800 oh, wow, you know, maybe I should pay attention to this. 438 00:27:12,800 --> 00:27:16,160 Is there some advancements in quantum computing that I wasn't 439 00:27:16,160 --> 00:27:17,440 aware of in the last couple of days? 440 00:27:17,440 --> 00:27:21,840 Because we do know technology is moving very fast, but it it does 441 00:27:21,840 --> 00:27:24,360 seem like hope. Now the chart that Willie Wu 442 00:27:24,360 --> 00:27:26,720 posted, it is somewhat convincing. 443 00:27:26,840 --> 00:27:30,600 You know, you look at it, it's like, OK, we had a 12 year 444 00:27:30,600 --> 00:27:33,760 downtrend or rather gold had a 12 year downtrend against 445 00:27:33,760 --> 00:27:36,240 Bitcoin. And you you know, you pick some, 446 00:27:36,240 --> 00:27:38,840 you cherry points, some some data points here. 447 00:27:39,040 --> 00:27:42,720 Yeah, you you know, you go just full screen this chart and and 448 00:27:42,720 --> 00:27:46,320 you know you, you look at that chart and or just click, click, 449 00:27:46,320 --> 00:27:48,000 click the picture so they could see it better. 450 00:27:48,360 --> 00:27:53,080 And yeah, it is, you know, Bitcoin did lose this 12 years 451 00:27:53,080 --> 00:27:59,280 downtrend, or rather the 12 year downtrend of gold price in 452 00:27:59,280 --> 00:28:00,880 Bitcoin. It did break out. 453 00:28:01,280 --> 00:28:05,000 Now it, these data points do make it seem like, oh, wow, you 454 00:28:05,000 --> 00:28:07,880 know, the first time and also the framing, the first time 455 00:28:07,880 --> 00:28:12,040 Quantum's been mentioned in the, you know, Bitcoin Core developer 456 00:28:12,040 --> 00:28:14,800 mailing list. And then we have the Quantum 457 00:28:14,800 --> 00:28:17,920 Bitcoin Summit. To me, it, it really I think is 458 00:28:17,920 --> 00:28:19,760 a lot of cope. And and it's like we said, you 459 00:28:19,760 --> 00:28:23,520 know, if you look at Willy Woo right now, he's been in Bitcoin 460 00:28:23,520 --> 00:28:26,840 for a long time. He is a Bitcoiner, but he did 461 00:28:26,840 --> 00:28:31,080 sell his Bitcoin. What was that July of last year? 462 00:28:31,520 --> 00:28:34,280 And that was before Bitcoin even hit an all time high. 463 00:28:34,760 --> 00:28:38,440 And when he sold his Bitcoin, what he officially said wasn't 464 00:28:38,440 --> 00:28:40,240 like I'm concerned about quantum. 465 00:28:40,400 --> 00:28:43,120 Now he's kind of saying I'm concerned about Quantum and I'm 466 00:28:43,120 --> 00:28:45,440 so right and vindicated for selling my Bitcoin. 467 00:28:45,680 --> 00:28:48,760 But we all know he was basically saying, Hey, I think I can make 468 00:28:48,760 --> 00:28:52,000 better gains if I, if I put my Bitcoin in some kind of, you 469 00:28:52,000 --> 00:28:55,680 know, either digital asset treasury company or Bitcoin 470 00:28:55,760 --> 00:28:58,640 startup. So his original reasoning for 471 00:28:58,640 --> 00:29:01,160 selling his Bitcoin wasn't necessarily quantum FUD. 472 00:29:01,520 --> 00:29:05,040 Now we're seeing, because the quantum FUD is becoming kind of 473 00:29:05,040 --> 00:29:07,600 one of the hot button topics right now. 474 00:29:07,840 --> 00:29:10,560 We are seeing rumors that apparently, you know, some Wall 475 00:29:10,560 --> 00:29:13,080 Street investors aren't, aren't buying Bitcoin or they're 476 00:29:13,080 --> 00:29:14,840 selling the Bitcoin because of the quantum FUD. 477 00:29:15,240 --> 00:29:18,320 I I think this is this is all cope because when you look at 478 00:29:18,320 --> 00:29:22,320 the people that are really parading this quantum FUD idea, 479 00:29:22,320 --> 00:29:26,240 most of them have quantum computing investments that in 480 00:29:26,240 --> 00:29:29,120 their portfolio. So again, you got to look at the 481 00:29:29,120 --> 00:29:31,840 incentives. Now, the reason we probably are 482 00:29:31,840 --> 00:29:34,240 talking about this, maybe it is the bottom signal like the chat 483 00:29:34,240 --> 00:29:36,880 is saying, but there are a lot of people talking about this, 484 00:29:37,000 --> 00:29:38,640 whether it's on the corporate press. 485 00:29:38,640 --> 00:29:41,680 I have gotten some text messages from friends about like, what 486 00:29:41,680 --> 00:29:44,400 about the quantum computing? And I'm like, bro, that's like 487 00:29:44,400 --> 00:29:47,360 not really a concern. It's not it's obviously a 488 00:29:47,360 --> 00:29:49,560 concern, but it's not just a Bitcoin concern. 489 00:29:49,800 --> 00:29:52,080 One, it's not going to happen tomorrow. 490 00:29:52,080 --> 00:29:53,480 It's not going to happen next year. 491 00:29:53,840 --> 00:29:58,000 And two, if quantum shooting does get to this level where it 492 00:29:58,000 --> 00:30:01,560 is actually a fear, we have way bigger problems than people 493 00:30:01,560 --> 00:30:04,080 cracking Bitcoin wallets. It's like all of the modern 494 00:30:04,080 --> 00:30:06,880 world is cut. And so you're looking at all the 495 00:30:06,880 --> 00:30:11,600 FUD and it does make you feel, or rather it does make it seem 496 00:30:11,600 --> 00:30:14,520 like these are just bottom signals and people coping for 497 00:30:14,520 --> 00:30:17,240 what is the new reason for the Bitcoin price dropping. 498 00:30:17,520 --> 00:30:20,760 You know, I'm, I may not totally agree with Nico, but I think we 499 00:30:20,760 --> 00:30:22,320 know what happened with the price. 500 00:30:23,000 --> 00:30:24,800 The four year cycle was kind of intact. 501 00:30:24,800 --> 00:30:27,840 Still, you know, so I think the fact that people are are 502 00:30:27,840 --> 00:30:32,120 parading this idea out like, oh, look at looking backwards in 503 00:30:32,120 --> 00:30:35,840 hindsight. It's so easy to say, hey, the 504 00:30:35,840 --> 00:30:38,640 quantum FUD is the reason for Bitcoin dropping. 505 00:30:38,880 --> 00:30:41,720 I, I think it's complete cope. I, I don't think this is the 506 00:30:41,720 --> 00:30:45,600 issue for why Bitcoin fell. Yes, it is starting to come up 507 00:30:45,600 --> 00:30:49,280 in the conversation, but it's not a new conversation. 508 00:30:49,640 --> 00:30:52,840 I think what it is is kind of one of those things that we've 509 00:30:52,840 --> 00:30:54,400 been talking about for a long time. 510 00:30:54,400 --> 00:30:57,240 It's this eternal September moment where new people are 511 00:30:57,240 --> 00:31:00,520 coming into the space. It's the I, I just found 512 00:31:00,520 --> 00:31:01,760 Bitcoin. I'm here to fix it. 513 00:31:01,760 --> 00:31:03,560 You know, I'm new to Bitcoin. I'm here to fix it. 514 00:31:03,840 --> 00:31:07,560 And now this is becoming the the cope, the FUD that everyone 515 00:31:07,560 --> 00:31:10,240 wants to talk about. I don't think this is the reason 516 00:31:10,240 --> 00:31:12,120 for Bitcoin dropping. I don't think this is even 517 00:31:12,120 --> 00:31:15,840 really a concern for Bitcoin just generally for itself, or 518 00:31:15,840 --> 00:31:20,080 rather specifically for itself. It is generally a concern across 519 00:31:20,080 --> 00:31:24,880 the board for everything. And as we've seen the, you know, 520 00:31:24,960 --> 00:31:27,880 the Bitcoiners have been or not necessarily as, because they're 521 00:31:27,880 --> 00:31:30,000 not developers, but Bitcoin developers have been talking 522 00:31:30,000 --> 00:31:32,920 about quantum computing for a long time before it was really a 523 00:31:32,920 --> 00:31:35,760 trendy conversation. So this isn't, it's not going to 524 00:31:35,760 --> 00:31:37,880 be one of these things where Bitcoiners get blindsided 525 00:31:37,880 --> 00:31:41,480 because of quantum computing. I think, as a lot of people kind 526 00:31:41,480 --> 00:31:44,640 of mentioned, I think Bitcoiners are going to probably be more 527 00:31:44,640 --> 00:31:47,240 prepared for this when it is an actual threat. 528 00:31:47,600 --> 00:31:50,480 And it's, it's something that's coming down the, the, you know, 529 00:31:50,480 --> 00:31:53,840 the pipeline a few years from now, But there are people now 530 00:31:53,920 --> 00:31:57,240 now currently making the case that if we don't figure this out 531 00:31:57,240 --> 00:32:01,520 now, it's over. And I think this is part of what 532 00:32:01,520 --> 00:32:04,720 Nika said a minute ago. I don't think the quantum FUD is 533 00:32:04,720 --> 00:32:08,600 the specific reason for Bitcoin to crash, but I do think that 534 00:32:08,600 --> 00:32:12,360 people parading this FUD in this narrative that, oh, This is why 535 00:32:12,360 --> 00:32:15,680 Bitcoin crashed. I think it is starting to build 536 00:32:15,680 --> 00:32:18,680 on, on the sentiment or the negative bearish sentiment on 537 00:32:18,680 --> 00:32:21,080 Bitcoin. And we're just seeing as as I 538 00:32:21,080 --> 00:32:24,480 mentioned a couple of days ago, we're seeing all of the bud get 539 00:32:24,480 --> 00:32:29,440 paraded out right now as Bitcoin is in the 60 K range or you 540 00:32:29,440 --> 00:32:32,800 know, 60 to 70 K range. And it does make you it make it 541 00:32:32,800 --> 00:32:36,400 seem like these are really good classic bottom signals. 542 00:32:36,600 --> 00:32:41,080 When all the FUD gets paraded, that's usually when people are 543 00:32:41,080 --> 00:32:43,600 taking their victory laps and saying, Oh, Bitcoin's over. 544 00:32:43,600 --> 00:32:46,240 I told you it was over. Like we just saw the Atlantic 545 00:32:46,240 --> 00:32:51,240 did a hit piece on Bitcoin. It's called like crypto success 546 00:32:51,240 --> 00:32:53,000 is its failure or something like that. 547 00:32:53,560 --> 00:32:55,160 And so you're seeing all the fun happen. 548 00:32:55,320 --> 00:32:58,200 I don't think this is really the concern that most people think 549 00:32:58,200 --> 00:33:01,160 it is. I I think Bitcoin fell just 550 00:33:01,160 --> 00:33:04,400 because of liquidity and macro factors and people thinking of 551 00:33:04,400 --> 00:33:07,000 the four year cycle. And then on top of that, add the 552 00:33:07,000 --> 00:33:10,320 different fun narratives. But again, always focus on 553 00:33:10,320 --> 00:33:12,640 incentives. And if you're on Twitter like we 554 00:33:12,640 --> 00:33:17,440 are, most of the people that are parading this FUD around have 555 00:33:18,080 --> 00:33:20,200 basically quantum computing bags. 556 00:33:20,360 --> 00:33:23,080 They're like, we're going to solve this, we're going to FUD 557 00:33:23,080 --> 00:33:24,920 it. So it makes it like it's a big 558 00:33:24,920 --> 00:33:26,720 issue. And hey, guess what? 559 00:33:26,720 --> 00:33:29,640 My Portfolio is? It's totally aligned with 560 00:33:29,640 --> 00:33:33,800 quantum computing benefiting Bitcoin or you know, me 561 00:33:33,800 --> 00:33:36,000 benefiting of quantum computing being solved. 562 00:33:36,000 --> 00:33:38,200 So I, I don't think this is a concern. 563 00:33:38,320 --> 00:33:40,400 I, I think it really is bottom signals. 564 00:33:40,400 --> 00:33:43,440 Like we're seeing a lot of people parade the FUD from every 565 00:33:43,440 --> 00:33:47,720 corner and that is, that's just kind of stuff you see at the 566 00:33:47,720 --> 00:33:50,640 bottom of bear market. So hopefully this is a classic 567 00:33:50,640 --> 00:33:56,720 bear market signal. I mean, dude, look, if you've 568 00:33:56,720 --> 00:34:02,800 been in the space for a while now, yeah, I noticed that too. 569 00:34:04,040 --> 00:34:05,720 I think we just got to change the frame. 570 00:34:06,560 --> 00:34:10,280 If you've been in this, if you, yeah, just change the frame. 571 00:34:11,199 --> 00:34:16,159 If you've been in this space for long enough, you've heard the 572 00:34:16,320 --> 00:34:23,760 quantum FUD or the quantum, you know, narrative for you've heard 573 00:34:23,760 --> 00:34:26,760 it 1000 times. It's, it's not something new to 574 00:34:26,760 --> 00:34:29,280 you. You, you, you hear it every 575 00:34:29,280 --> 00:34:32,000 single year. In fact, not only do you hear it 576 00:34:32,000 --> 00:34:35,719 every single year, you hear it at the bottom of every single 577 00:34:35,719 --> 00:34:40,000 bear market. This quantum, this quantum FUD 578 00:34:40,000 --> 00:34:44,719 or this quantum talk has continuously been brought up for 579 00:34:44,719 --> 00:34:47,520 the last 10 years that I've been in this space. 580 00:34:48,520 --> 00:34:51,239 It it never fails. It's always there. 581 00:34:51,400 --> 00:34:56,719 It's always being talked about. So you know, again, it does this 582 00:34:56,719 --> 00:35:01,000 surprise me at all whatsoever? No, it, it doesn't surprise me. 583 00:35:01,000 --> 00:35:03,480 It doesn't surprise me that it's it's being brought up. 584 00:35:04,160 --> 00:35:06,440 This is this is kind of bottom signals. 585 00:35:06,440 --> 00:35:09,360 This is what I'm, I'm feeling. This is bottom signals is this 586 00:35:09,360 --> 00:35:12,160 is like this is cope. This is like, Oh my God. 587 00:35:12,160 --> 00:35:15,640 The reason the reason all of this is happening is because of 588 00:35:15,640 --> 00:35:18,120 the quantum fears and the quantum FUD. 589 00:35:18,120 --> 00:35:21,760 And quantum's going to crack all of Satoshi's, you know, private 590 00:35:21,760 --> 00:35:25,040 keys and all that Bitcoin just going to be sold onto the 591 00:35:25,040 --> 00:35:27,600 market. And you know, this is not like 592 00:35:27,680 --> 00:35:30,960 I've, I've heard this so many times before. 593 00:35:31,240 --> 00:35:35,160 I just think that this cycle is a little bit different and I 594 00:35:35,160 --> 00:35:38,480 think it's a little bit different because of the players 595 00:35:38,480 --> 00:35:41,920 who are involved. And I also think that for the 596 00:35:41,920 --> 00:35:47,880 first time in a long time, really since like 2018, I feel 597 00:35:47,880 --> 00:35:50,040 uncertainty back in the market again. 598 00:35:50,600 --> 00:35:54,400 We haven't had this much uncertainty in Bitcoin in a very 599 00:35:54,400 --> 00:35:59,320 long time. Opti before like people can't as 600 00:35:59,320 --> 00:36:07,760 time progresses, more and more people are basically losing hope 601 00:36:08,040 --> 00:36:11,040 that Bitcoin can reach all time highs. 602 00:36:11,080 --> 00:36:16,240 Like people are basically losing hope that Bitcoin can reach 200 603 00:36:16,240 --> 00:36:23,240 K 300 K400 K500K. And that uncertainty is what 604 00:36:23,240 --> 00:36:29,120 creates the perfect conditions for the next move up when it 605 00:36:29,120 --> 00:36:33,640 inevitably comes because the core thesis behind Bitcoin 606 00:36:33,880 --> 00:36:37,680 hasn't changed. The characteristics of Bitcoin 607 00:36:37,880 --> 00:36:40,840 hasn't changed. If you take a look at the hash 608 00:36:40,840 --> 00:36:43,720 rate, it continues to make all time highs. 609 00:36:43,920 --> 00:36:49,000 So again, are you a believer or do you have conviction in your 610 00:36:49,000 --> 00:36:53,160 holdings? If the answer is yes, then hold 611 00:36:53,160 --> 00:36:59,480 on DCA dollar cost average, take advantage of these of these low 612 00:36:59,480 --> 00:37:03,680 prices and accumulate your stack and we could go lower. 613 00:37:03,680 --> 00:37:07,320 Take advantage of the prices going lower if and when they go 614 00:37:07,320 --> 00:37:11,040 lower, right? But I love the fact that 615 00:37:11,040 --> 00:37:15,200 uncertainty is back because we had a three-year high of 616 00:37:15,200 --> 00:37:19,600 complete certainty that Bitcoin was going to go to the moon and 617 00:37:19,600 --> 00:37:23,560 beyond, and now reality is coming back. 618 00:37:24,520 --> 00:37:26,720 It's smacking everybody in the face. 619 00:37:26,840 --> 00:37:30,600 It's saying wake the fuck up, sunshine. 620 00:37:31,560 --> 00:37:34,760 And I think that's a good thing. And I think that's not a bad 621 00:37:34,760 --> 00:37:36,800 thing. I think it humbles the F out of 622 00:37:36,800 --> 00:37:40,240 you as a Bitcoiner. It makes you feel the pain, it 623 00:37:40,240 --> 00:37:44,240 makes you feel why you're here, and it reminds you why we're 624 00:37:44,240 --> 00:37:46,360 here. And I think a lot of people have 625 00:37:46,360 --> 00:37:51,040 forgotten, you know, the reason as to why we're in Bitcoin and 626 00:37:51,040 --> 00:37:55,760 the reason we are in Bitcoin is again to escape this, this rat 627 00:37:55,760 --> 00:37:59,200 race to escape the traditional financial system. 628 00:37:59,200 --> 00:38:03,320 It's to escape, you know, the, the, this Fiat nihilistic 629 00:38:03,320 --> 00:38:06,680 mindset. This is what Bitcoin is all 630 00:38:06,680 --> 00:38:08,240 about. It's about individuals 631 00:38:08,240 --> 00:38:12,120 reclaiming back their financial sovereignty by buy Bitcoin or 632 00:38:12,120 --> 00:38:14,960 any Bitcoin mining Bitcoin and and taking that Bitcoin into 633 00:38:14,960 --> 00:38:17,400 self custody. That's why we're here. 634 00:38:17,560 --> 00:38:20,480 This previous cycle. What concerned me Opti is the 635 00:38:20,480 --> 00:38:25,960 fact that people forgot the core reason, the core logic as to why 636 00:38:25,960 --> 00:38:28,560 we became bitcoiners in the 1st place. 637 00:38:28,800 --> 00:38:31,520 It was this over financialized cycle. 638 00:38:31,680 --> 00:38:36,240 It was the treasury companies. It was it was, you know, as as 639 00:38:36,240 --> 00:38:39,280 much of A of a fan as I am of sailor. 640 00:38:39,280 --> 00:38:43,600 It was strategy, this strategy, that treasury company, this 641 00:38:43,600 --> 00:38:47,880 treasury company that, that was the main thesis of this cycle. 642 00:38:47,880 --> 00:38:50,560 It wasn't all coins as it was in 2021. 643 00:38:50,800 --> 00:38:54,520 This cycle was the cycle of of treasury companies, right? 644 00:38:54,680 --> 00:38:57,960 And I think a lot of the the potential and Lynn Alden said it 645 00:38:57,960 --> 00:39:01,040 in her in her bit. I think a lot of the potential 646 00:39:01,760 --> 00:39:05,360 parabola that would have happened happened normally. 647 00:39:05,520 --> 00:39:09,080 I think a lot of that cash went into treasury companies and I 648 00:39:09,080 --> 00:39:12,360 think it was actually Mauricio, the Co founder of Leaden that 649 00:39:12,360 --> 00:39:16,480 pointed this out to us. We did have a parabola, it just 650 00:39:16,480 --> 00:39:20,400 didn't happen in spot Bitcoin. But if you look at strategy, 651 00:39:20,400 --> 00:39:23,560 strategy had a textbook parabola. 652 00:39:23,720 --> 00:39:29,440 It went from like what, 1015? No, I went from like $1520 a 653 00:39:29,440 --> 00:39:34,320 share to $500 a share. It, it, it went crazy. 654 00:39:34,320 --> 00:39:38,680 It went it went bananas. We had a parabola in strategy. 655 00:39:38,880 --> 00:39:42,640 We just didn't have a parabola in spot Bitcoin. 656 00:39:42,840 --> 00:39:46,440 And I think that is what has caught a lot of people by 657 00:39:46,440 --> 00:39:49,240 surprise. But this is what markets do. 658 00:39:49,240 --> 00:39:52,160 And I think a lot of people have forgotten that, right? 659 00:39:52,360 --> 00:39:55,000 So again, we're heading into the unknown. 660 00:39:55,000 --> 00:39:58,920 It's like Christopher Columbus again, you know, the whole point 661 00:39:58,920 --> 00:40:02,280 of him originally sailing, I saw some SNL skits on this is 662 00:40:02,280 --> 00:40:04,520 hilarious, like with Bad Bunny and stuff. 663 00:40:04,520 --> 00:40:07,960 But the whole reason of him like, you know, originally 664 00:40:07,960 --> 00:40:12,000 sailing was, you know, he wanted to get to China, Like Spain 665 00:40:12,000 --> 00:40:14,320 thought that they would be able to get to China in a more 666 00:40:14,320 --> 00:40:17,240 efficient manner. And they ran into the Americas 667 00:40:17,240 --> 00:40:20,040 in the in the process, right? But there was an age of 668 00:40:20,040 --> 00:40:22,600 discovery. There is an age of uncertainty. 669 00:40:23,000 --> 00:40:26,520 And this is where we are in Bitcoin right now is we are in 670 00:40:26,520 --> 00:40:30,280 uncertain territory. We're in kind of this discovery 671 00:40:30,280 --> 00:40:32,600 territory. And I think that's a positive 672 00:40:32,960 --> 00:40:35,440 for Bitcoin. I think it's gonna, it's going 673 00:40:35,440 --> 00:40:41,080 to create more conviction, it's going to shake your beliefs and 674 00:40:41,080 --> 00:40:43,160 it's going to ask you why you're here. 675 00:40:43,160 --> 00:40:45,280 You know, do do you still believe in Bitcoin? 676 00:40:45,280 --> 00:40:48,360 Do you still believe in the future appeal of Bitcoin? 677 00:40:48,360 --> 00:40:51,360 Do you, do you still believe in the future performance of 678 00:40:51,360 --> 00:40:54,080 Bitcoin? And when that gets exhausted, 679 00:40:54,160 --> 00:40:59,080 when the Taurus leave, when the Taurus, you know, say, listen, 680 00:40:59,080 --> 00:41:03,080 I've had enough of this. Bitcoin's time to shine is over. 681 00:41:03,200 --> 00:41:05,680 The Ponzi truly is over. It's done. 682 00:41:05,680 --> 00:41:07,640 It's, you know, pack it up, go home. 683 00:41:07,920 --> 00:41:11,360 I'm going to be able to find quote UN quote more alpha in 684 00:41:11,360 --> 00:41:15,040 different things. Only then is when we'll hit 685 00:41:15,040 --> 00:41:19,000 bottom and only then is when Bitcoin will start to pick up 686 00:41:19,000 --> 00:41:21,240 again. And only then is when we'll 687 00:41:21,240 --> 00:41:26,080 start making all time highs when most people have lost the faith 688 00:41:26,280 --> 00:41:29,880 because that's usually how the bear markets play out. 689 00:41:29,960 --> 00:41:33,640 We have just forgotten that because again, we've been riding 690 00:41:33,640 --> 00:41:38,440 a high for the last three years of Bitcoin's history. 691 00:41:38,640 --> 00:41:41,600 And we had a generational run. We had an epic run. 692 00:41:41,800 --> 00:41:48,800 We went from 16,000 to $126,000. That's an incredible return. 693 00:41:48,960 --> 00:41:54,320 That's an incredible run. It's just guys, it this things 694 00:41:54,320 --> 00:41:56,600 are changing, right? Things are changing. 695 00:41:56,720 --> 00:41:59,040 And again, these are a lot of the coping and a lot of the 696 00:41:59,040 --> 00:42:03,280 narratives that people are are using to justify as to why 697 00:42:03,280 --> 00:42:05,600 Bitcoin isn't performing the way that it has. 698 00:42:05,840 --> 00:42:11,120 So you know, 2026 is the year to learn fundamentals, to learn why 699 00:42:11,120 --> 00:42:13,960 you're here, to learn about Bitcoin, the characteristics of 700 00:42:13,960 --> 00:42:18,000 Bitcoin. And historically speaking, this 701 00:42:18,000 --> 00:42:22,560 happens to be one of the best, most opportune, opportune times 702 00:42:22,960 --> 00:42:25,960 to buy cheap Bitcoin. So take advantage of it. 703 00:42:26,240 --> 00:42:28,360 Anyways, guys, we're going to be right back in just a bit. 704 00:42:28,360 --> 00:42:31,360 We're going to have an incredible show, tons of stuff 705 00:42:31,360 --> 00:42:32,840 to cover. We're going to be right back in 706 00:42:32,840 --> 00:42:36,280 just a bit. Today's episode is brought to 707 00:42:36,280 --> 00:42:39,760 you by Bitcoin Well Infinite. If you're a serious Bitcoin 708 00:42:39,760 --> 00:42:41,720 buyer, you've probably hit the same wall. 709 00:42:41,760 --> 00:42:45,280 Most platforms make you give up custody just to play by the 710 00:42:45,280 --> 00:42:47,880 rules. Bitcoin Well Infinite fixes 711 00:42:47,880 --> 00:42:50,000 that. They're North America's only 712 00:42:50,000 --> 00:42:55,240 publicly traded, non custodial OTC desk listed on the TSX 713 00:42:55,320 --> 00:42:59,480 Venture Exchange, which means transparent operations and 0 714 00:42:59,640 --> 00:43:02,360 counterparty risk. You buy Bitcoin, you take 715 00:43:02,360 --> 00:43:04,280 immediate control. 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They're also crush proof, 738 00:44:14,840 --> 00:44:17,720 waterproof, non corrosive, and time proof. 739 00:44:17,960 --> 00:44:21,800 And now you can customize your titanium seed plates. 740 00:44:21,960 --> 00:44:26,480 You can upload your design or logo and they will laser engrave 741 00:44:26,480 --> 00:44:29,880 it on the back of your seed plate, the opposite side of 742 00:44:29,880 --> 00:44:33,520 where the words are. Stamp your seed on stamps and 743 00:44:33,520 --> 00:44:38,680 use promo code simply to get 15% off anything on the Stamp 744 00:44:38,680 --> 00:44:46,040 se-ed.com store. All right everybody, we are 745 00:44:46,040 --> 00:44:49,880 back. I do want to share the Clark 746 00:44:49,880 --> 00:44:52,720 Moody dashboard. The time of at the time of 747 00:44:52,720 --> 00:44:57,520 recording the Bitcoin price is $67,750. 748 00:44:57,800 --> 00:45:03,440 Again almost 50% Drawdown from all time high Sats per dollar 749 00:45:03,440 --> 00:45:11,960 1476 block height 937,115 Realized monetary inflation .83% 750 00:45:12,200 --> 00:45:18,960 Market cap 1.35 trillion Bitcoin versus gold market cap 4.53% 751 00:45:19,280 --> 00:45:24,840 Percentage issued 95.19%. In the grand scheme of things, 752 00:45:24,840 --> 00:45:28,160 we are just getting the party started. 753 00:45:28,800 --> 00:45:31,640 Alright everybody, let's move on to the next bit. 754 00:45:32,360 --> 00:45:36,880 I do want to share this video. Let's talk about the Clarity 755 00:45:36,880 --> 00:45:39,440 Act. So again, you guys know how I 756 00:45:39,440 --> 00:45:40,920 personally feel about the Clarity Act. 757 00:45:40,920 --> 00:45:45,800 I've been talking about it. It is a a big deal for the Trump 758 00:45:45,800 --> 00:45:48,280 administration. We played you guys a clip of 759 00:45:48,280 --> 00:45:51,920 Scott Besson on CNBC not too long ago talking about the 760 00:45:51,920 --> 00:45:54,040 importance of passing the Clarity Act. 761 00:45:54,040 --> 00:45:56,360 I think it was on the Friday show of last week. 762 00:45:56,720 --> 00:46:01,960 And I told you guys, I said, listen, like he, they, you know, 763 00:46:02,480 --> 00:46:06,600 Brian Armstrong and Coinbase don't want to pass it be a, 764 00:46:06,760 --> 00:46:10,240 they, they don't want to support it because the big banks don't 765 00:46:10,240 --> 00:46:12,680 want the Clarity Act. They, they're essentially 766 00:46:12,680 --> 00:46:15,760 putting it in the clarity Act that exchanges aren't allowed to 767 00:46:15,760 --> 00:46:19,720 give rewards for people leaving their deposits on the exchange, 768 00:46:19,720 --> 00:46:22,480 which again acts like a, as a form of income. 769 00:46:22,720 --> 00:46:25,400 I, I made the case that it's unfortunate that this is 770 00:46:25,400 --> 00:46:28,600 happening because it's like here you have the crypto industry 771 00:46:28,880 --> 00:46:31,560 kind of holding back the Bitcoin industry. 772 00:46:31,560 --> 00:46:34,240 And I, and I said like, listen, like for better or for worse, 773 00:46:34,240 --> 00:46:36,960 Coinbase is the largest player in the game. 774 00:46:37,160 --> 00:46:40,800 And you know, they are the biggest and loudest lobbying 775 00:46:40,800 --> 00:46:44,480 voice in DC, you know, for better or for worse. 776 00:46:44,480 --> 00:46:48,560 So, you know, and unfortunately how these laws get signed into, 777 00:46:48,600 --> 00:46:51,520 you know, how they get put into law is that a lot of these 778 00:46:51,520 --> 00:46:54,880 things are included in one big giant package. 779 00:46:55,360 --> 00:46:59,880 And, you know, things can stall because one thing in that giant 780 00:46:59,880 --> 00:47:04,000 package, you know, it, it gets disagreed upon. 781 00:47:04,000 --> 00:47:05,600 And that seems to be the case here. 782 00:47:06,840 --> 00:47:10,280 So, you know, according to Polymarket, again, kind of a lot 783 00:47:10,360 --> 00:47:14,760 of a lot of money on the line on Polymarket, the markets do 784 00:47:14,760 --> 00:47:18,640 believe that it will get passed. They're giving it a 63% chance 785 00:47:18,640 --> 00:47:21,400 at the moment. It's definitely gotten a lot 786 00:47:21,400 --> 00:47:26,520 higher than where it was in January of 2020, January 22nd, 787 00:47:26,800 --> 00:47:30,360 where the chance went all the way down to 39%. 788 00:47:30,640 --> 00:47:33,280 So it seems like it's heading in the right direction. 789 00:47:33,480 --> 00:47:39,600 Here is the CFTC chair and he's making the case that the market 790 00:47:39,600 --> 00:47:42,960 structure bill is on the cusp of getting signed into law. 791 00:47:43,960 --> 00:47:46,280 So I'm going to play you guys the clip and also he will be 792 00:47:46,280 --> 00:47:48,560 speaking at the Bitcoin conference in Vegas. 793 00:47:48,560 --> 00:47:51,720 You definitely want to get your your tickets today and again, if 794 00:47:51,720 --> 00:47:54,880 you use promo code simply you will get a discount to Bitcoin 795 00:47:54,880 --> 00:47:56,880 2026 in Vegas. So I'm going to anyways, I'm 796 00:47:56,880 --> 00:47:59,120 going to play you guys this clip, then Opti and I are going 797 00:47:59,120 --> 00:48:00,480 to talk about it. We're going to be right back in 798 00:48:00,480 --> 00:48:02,640 just a. Bit thanks to the president's 799 00:48:02,680 --> 00:48:06,320 leadership, we are on the cusp of getting clarity enacted into 800 00:48:06,320 --> 00:48:10,240 law, the regulation by enforcement over the Genius Act 801 00:48:10,240 --> 00:48:12,320 signed into law. And we've really turned a new 802 00:48:12,320 --> 00:48:14,760 page and, and I would say the United States today is the 803 00:48:14,760 --> 00:48:18,280 crypto capital of the world, but we need to make sure that it 804 00:48:18,280 --> 00:48:21,160 stays that way. And, and the this Clarity Act is 805 00:48:21,160 --> 00:48:24,160 really critical. The president has been clear 806 00:48:24,160 --> 00:48:26,880 that we need to get something enacted into law because we want 807 00:48:26,880 --> 00:48:29,720 to future proof our statutory framework for crypto. 808 00:48:29,720 --> 00:48:33,480 We can't allow for Gary Gensler 2.0 to come in and tear it all 809 00:48:33,480 --> 00:48:35,680 up. And so this legislation is, is 810 00:48:35,680 --> 00:48:37,960 critical. It's all hands on deck and we're 811 00:48:37,960 --> 00:48:41,160 making a push to get it done. There are some little wrinkles 812 00:48:41,160 --> 00:48:44,200 around the point you mentioned on the yield front, which we we 813 00:48:44,200 --> 00:48:46,880 thought some of this was settled with the Genius Act, but but 814 00:48:46,880 --> 00:48:49,400 it's coming back to, to to the bear. 815 00:48:49,600 --> 00:48:51,240 But we're going to get this thing across the line, and we're 816 00:48:51,240 --> 00:48:53,880 going to make sure the United States is and remains the crypto 817 00:48:53,880 --> 00:48:56,800 capital. All right, everybody. 818 00:48:56,800 --> 00:49:00,840 So again, kind of political grandstanding and, and 819 00:49:00,840 --> 00:49:04,120 positioning and, and obviously we know the Trump White House 820 00:49:04,120 --> 00:49:08,760 wants to get it passed, but ultimately what it comes down to 821 00:49:08,760 --> 00:49:11,960 is, is, is Coinbase going to be OK with the terms? 822 00:49:13,000 --> 00:49:16,000 I, I think it is very uncompetitive of the big banks 823 00:49:16,320 --> 00:49:22,120 to basically, you know, instead of competing, you know, with, 824 00:49:22,200 --> 00:49:26,520 with the new innovators, I think it is very uncompetitive that 825 00:49:26,520 --> 00:49:30,280 the big banks are, are trying to use the heavy hand of the state 826 00:49:30,600 --> 00:49:34,280 in order to stifle innovation and competition for the benefit 827 00:49:34,280 --> 00:49:37,840 of the consumer. So I do agree with Coinbase on 828 00:49:37,840 --> 00:49:41,120 that front. But as a Bitcoiner, you know, 829 00:49:41,120 --> 00:49:43,480 excuse my language, what the fuck do I care about any of 830 00:49:43,480 --> 00:49:45,720 that, right? Like I care about one thing and 831 00:49:45,720 --> 00:49:50,040 one thing only is if if the clarity Act includes and 832 00:49:50,200 --> 00:49:53,160 protections for self custody, that's really what I care of as 833 00:49:53,160 --> 00:49:55,880 a bitcoiner. And then Opti's dream is for 834 00:49:55,880 --> 00:49:59,520 essentially, you know, no cap gains on Bitcoin, right? 835 00:49:59,520 --> 00:50:01,160 And that's. That's not just my dream. 836 00:50:01,160 --> 00:50:02,840 That's all Bitcoiners. Come on, that's. 837 00:50:02,960 --> 00:50:05,480 Like really like what we fundamentally care about. 838 00:50:05,480 --> 00:50:08,960 Like we don't really care about staking or defy or, you know, 839 00:50:08,960 --> 00:50:12,080 interest on, you know, crypto deposits. 840 00:50:12,080 --> 00:50:14,800 Like sorry guys, you're tuned into the wrong show. 841 00:50:14,800 --> 00:50:17,840 If that's what you're trying to get, If that's to try to, if 842 00:50:17,840 --> 00:50:20,800 that's to try to, if that's the type of news you're trying to 843 00:50:20,800 --> 00:50:23,440 get out of today's show, you're tuned into the wrong show. 844 00:50:24,320 --> 00:50:26,160 This is simply Bitcoin after all. 845 00:50:26,360 --> 00:50:29,600 But I I care about the protections for self custody. 846 00:50:29,920 --> 00:50:33,720 And there is supposed to be an exemption of some sort. 847 00:50:33,720 --> 00:50:36,680 I don't think that's included in the current bill that 848 00:50:36,680 --> 00:50:40,120 essentially would exempt a certain amount of Bitcoin so 849 00:50:40,120 --> 00:50:44,080 that you could actually use Bitcoin as money without any tax 850 00:50:44,080 --> 00:50:47,280 implications, right? You know, I know Jack Dorsey was 851 00:50:47,280 --> 00:50:51,320 pushing hard for that. So eventually I would love no 852 00:50:51,320 --> 00:50:56,040 cap gains at all on Bitcoin. So, but I don't think that's 853 00:50:56,040 --> 00:50:58,400 included in the bill and I think we're far away from that. 854 00:50:59,240 --> 00:51:03,120 But anywho, I want to get your take opti 'cause you you. 855 00:51:03,120 --> 00:51:05,440 You did have some descriptions of the gentleman. 856 00:51:06,000 --> 00:51:10,800 I'm not saying that and I'll, I'll say a little effeminate. 857 00:51:10,800 --> 00:51:12,440 A guy's a little too effeminate for me. 858 00:51:13,800 --> 00:51:17,640 I think I think he's great and I think he's he's a he's a he's a 859 00:51:17,640 --> 00:51:23,400 vocal supporter of us, you know, within within, you know, within 860 00:51:23,400 --> 00:51:26,520 government. And I did want to his quote is 861 00:51:26,520 --> 00:51:28,480 interesting here. We want to future proof our 862 00:51:28,480 --> 00:51:32,560 strategy framework for crypto. We can't allow for Gary Gensler 863 00:51:32,560 --> 00:51:35,320 to come on, come in and tear it up. 864 00:51:35,560 --> 00:51:37,360 We're going to get this across the line. 865 00:51:37,640 --> 00:51:39,760 The thing is like what across the line? 866 00:51:39,760 --> 00:51:42,360 And and another thing too is like in this is kind of like 867 00:51:42,360 --> 00:51:47,360 what, sorry, Coinbase was talking about, Coinbase was 868 00:51:47,640 --> 00:51:52,560 making the case basically like look like as the bill currently 869 00:51:52,560 --> 00:51:55,920 stands, this is worse than the status quo, right? 870 00:51:56,040 --> 00:51:59,920 So it's like, why are we going to pass a bill to pass a bill if 871 00:51:59,920 --> 00:52:04,120 it's if the bill in itself and the law that gets that's in the 872 00:52:04,120 --> 00:52:08,560 bill is more, is more disadvantageous to Bitcoiners 873 00:52:08,800 --> 00:52:14,920 than no bill at all. So, yeah, I mean, we'll, we'll, 874 00:52:14,920 --> 00:52:16,480 we'll have more coverage on this. 875 00:52:16,480 --> 00:52:20,080 Ladies and gentlemen, as it, you know, as this develops again, 876 00:52:20,080 --> 00:52:28,600 Polymarket currently gives it a 62% chance that it passes, a 63% 877 00:52:28,600 --> 00:52:31,840 chance that it passes. So I would say that there is a 878 00:52:31,840 --> 00:52:35,160 high likelihood the Trump administration again continues 879 00:52:35,160 --> 00:52:37,120 to beat the battle drum on on this. 880 00:52:37,320 --> 00:52:42,240 But they are, they are, you know, playing against the clock 881 00:52:42,240 --> 00:52:47,040 because there's a lot, there's a extremely high likelihood that 882 00:52:47,040 --> 00:52:50,640 the Republicans lose the House during the midterms. 883 00:52:50,640 --> 00:52:54,520 And once they lose the House, the probability of any type of 884 00:52:54,520 --> 00:52:58,840 pro Bitcoin legislation being passed is extremely low. 885 00:52:58,840 --> 00:53:01,960 I think the first thing that they'll do when they win back 886 00:53:01,960 --> 00:53:04,640 the House is impeach Trump. That's like the first thing that 887 00:53:04,640 --> 00:53:07,240 they'll do when they when they get, when they get back power. 888 00:53:08,200 --> 00:53:11,640 So I don't think they have any interest in any type of laws or 889 00:53:11,640 --> 00:53:14,320 legislation that would make the Trump administration look good. 890 00:53:15,360 --> 00:53:17,520 So anywho, let's move on to the next. 891 00:53:17,520 --> 00:53:20,280 Wait, wait, I, I, I do want to add a little bit under this and 892 00:53:20,440 --> 00:53:23,600 I'll do it quickly. I again, I've said this multiple 893 00:53:23,600 --> 00:53:30,440 times, as much as I love the rhetoric, I'm not as bullish on 894 00:53:30,440 --> 00:53:32,560 anything positive really being passed. 895 00:53:32,840 --> 00:53:34,560 I do. I do love the sentiment. 896 00:53:34,560 --> 00:53:37,160 I think making America the Bitcoin superpower of the world 897 00:53:37,160 --> 00:53:39,960 is a great idea. Like I'm on board with the ideas 898 00:53:39,960 --> 00:53:42,480 aspect. It's the execution that is 899 00:53:42,480 --> 00:53:45,600 really lacking. And when I saw this clip, 900 00:53:46,040 --> 00:53:47,600 personally, I'm like, this is cope. 901 00:53:47,960 --> 00:53:52,280 I know I know they they're talking a good game and we have 902 00:53:52,280 --> 00:53:55,920 seen some back and forth you know, we covered the initial 903 00:53:55,920 --> 00:53:59,920 kind of debacle over the stable coin yields and then a couple of 904 00:53:59,920 --> 00:54:02,760 days later Brian Armstrong came out and said, hey, you know, 905 00:54:02,760 --> 00:54:05,360 we're actually having some meaningful conversation, some 906 00:54:05,360 --> 00:54:08,440 compromise. Personally, it, it all just 907 00:54:08,440 --> 00:54:10,520 feels like political rhetoric now. 908 00:54:10,920 --> 00:54:13,760 One of the kind of interesting things that like Nico pointed 909 00:54:13,760 --> 00:54:17,360 out, you know, if if as Bitcoiners we're waiting on the 910 00:54:17,360 --> 00:54:20,560 clarity Act to pass to have some clear rules of the road or 911 00:54:20,560 --> 00:54:22,960 regulations that are going to be beneficial for the Bitcoin 912 00:54:22,960 --> 00:54:26,360 industry. It is a bit ironic that it is 913 00:54:26,360 --> 00:54:30,320 all being stalled on 3% yield over stable coins when we all 914 00:54:30,320 --> 00:54:33,280 know that the purchasing power of the dollar is going down 10% 915 00:54:33,280 --> 00:54:35,600 a year. So like, but what, what are what 916 00:54:35,600 --> 00:54:37,200 are we really talking about here? 917 00:54:37,200 --> 00:54:42,360 It's like, OK, the supposed good regulation that's going to help 918 00:54:42,360 --> 00:54:46,120 the industry is being stalled over 3% yield, but in reality, 919 00:54:46,840 --> 00:54:49,280 we're all losing 10% of purchasing power anyway. 920 00:54:49,280 --> 00:54:52,320 So even if you get the 3% yield, it's like you're still in the 921 00:54:52,320 --> 00:54:53,200 hole. Like why? 922 00:54:53,200 --> 00:54:56,000 Why is this the crux of the conversation? 923 00:54:56,000 --> 00:54:58,320 And why is it stopping it? Obviously we know it's the big 924 00:54:58,320 --> 00:55:02,240 banks, they're scared of losing money, but it's still like the 925 00:55:02,280 --> 00:55:06,840 IT really it's like, come on, come on that and that's probably 926 00:55:06,840 --> 00:55:10,080 me just being black pilled on the whole Bitcoin and politics 927 00:55:10,080 --> 00:55:13,360 thing going on. Again, I do think it's a great 928 00:55:13,360 --> 00:55:16,680 idea. I just it, it's the execution 929 00:55:16,720 --> 00:55:19,120 that I'm not really excited about. 930 00:55:19,120 --> 00:55:21,480 I'm not really bullish on anything positive coming out of 931 00:55:21,480 --> 00:55:24,080 this. But again, I I am one of those 932 00:55:24,080 --> 00:55:29,240 persons that thinks that most government laws that be that are 933 00:55:29,240 --> 00:55:32,760 passed are usually less beneficial than than the 934 00:55:32,760 --> 00:55:35,080 official rhetoric. So that's just like my given. 935 00:55:35,080 --> 00:55:38,160 That's my starting point. Hence why I'm usually less 936 00:55:38,520 --> 00:55:42,480 bullish on on stuff than Nico is when it comes out of politics. 937 00:55:42,480 --> 00:55:47,040 But that that's my bit. All right, everybody, Well, we 938 00:55:47,040 --> 00:55:50,040 still got a hell of a show lined up for you guys. 939 00:55:50,040 --> 00:55:53,200 I want, I want Opti as my, as my political quant. 940 00:55:53,440 --> 00:55:56,080 I I, I want to, I want to have my I don't know if you want 941 00:55:56,080 --> 00:55:57,360 that. I want to I want to get signed 942 00:55:57,360 --> 00:56:01,320 up to that group. That group is here. 943 00:56:01,440 --> 00:56:05,400 The group is in the. Chat All right, everybody, well, 944 00:56:05,400 --> 00:56:09,440 we're going to be right back in just a little bit and let's 945 00:56:09,440 --> 00:56:11,160 check out the news. We got a bullish video. 946 00:56:11,160 --> 00:56:13,840 We're going to end it up with some with some bull sauce. 947 00:56:13,840 --> 00:56:17,560 Cause has been a little bit a little bit bleak, a little bit 948 00:56:17,560 --> 00:56:20,320 bleak yeah, this show's bleak, a little bit bleak. 949 00:56:20,320 --> 00:56:22,760 So we're going to end it up with some some bull sauce. 950 00:56:22,760 --> 00:56:26,920 We're going to be right back in just a little a little bit. 951 00:56:28,800 --> 00:56:31,520 I want to give a shout out to our partner Hive Digital 952 00:56:31,520 --> 00:56:34,800 Technologies. Fueled by clean energy, Hive has 953 00:56:34,800 --> 00:56:38,920 quadrupled its global Bitcoin mining footprint and channels 954 00:56:39,040 --> 00:56:42,520 that same scale into high performance compute, where their 955 00:56:42,720 --> 00:56:47,040 AI cloud is now ranked number one in the world for network 956 00:56:47,040 --> 00:56:49,600 performance. At Hive, you've got dual 957 00:56:49,600 --> 00:56:54,160 engines, Bitcoin and AI humming, roaring, accelerating and 958 00:56:54,160 --> 00:56:55,640 unison. They're lean and mean. 959 00:56:55,760 --> 00:56:58,720 They're green and clean, and they're rewriting the playbook 960 00:56:58,920 --> 00:57:01,320 on sustainable digital infrastructure. 961 00:57:01,400 --> 00:57:05,360 You can catch the latest buzz at Hive Digital Tech or at Hive 962 00:57:05,360 --> 00:57:12,360 digitaltech.com. I want to give a shout out to 963 00:57:12,360 --> 00:57:16,920 our partner Leaden, the leader in Bitcoin Back Loans unlock the 964 00:57:16,920 --> 00:57:19,800 liquidity in your Bitcoin without having to sell your 965 00:57:19,800 --> 00:57:22,400 Bitcoin. They've issued $9 billion in 966 00:57:22,400 --> 00:57:26,120 loans to over 10,000 customers since 2018. 967 00:57:26,320 --> 00:57:29,240 I absolutely love these guys. Not only do I have an account 968 00:57:29,240 --> 00:57:31,160 with them, but I also have a loan. 969 00:57:31,320 --> 00:57:33,800 And what I love about them is that there are no monthly 970 00:57:33,800 --> 00:57:36,760 payments and you could pay back the loan at any time. 971 00:57:37,120 --> 00:57:40,120 As soon as you send your Bitcoin as collateral, you'll have cash 972 00:57:40,120 --> 00:57:45,240 in your account within 24 hours. Over 1005 star customer reviews 973 00:57:45,480 --> 00:57:49,320 and they've never lost a single dollar or sat of customer money. 974 00:57:49,560 --> 00:57:54,160 Go to learn dot leaden dot IO slash simply today and you'll 975 00:57:54,160 --> 00:57:58,760 get .25% off your first loan. I want to give a shout out to 976 00:57:58,760 --> 00:58:02,840 our partnersat123.com. Sovereignty isn't just about 977 00:58:02,840 --> 00:58:05,120 your money, it's about your communications too. 978 00:58:05,240 --> 00:58:07,880 When the grid goes down, most people go dark. 979 00:58:08,040 --> 00:58:11,440 Cell towers fail and hurricanes, cyber attacks and blackouts. 980 00:58:11,600 --> 00:58:14,360 But satellite phones, they don't rely on local infrastructure. 981 00:58:14,480 --> 00:58:18,880 Iridium has 77 satellites in orbit, giving you a Direct Line 982 00:58:18,920 --> 00:58:20,960 anywhere in the US, even offshore. 983 00:58:21,040 --> 00:58:24,040 If you hold your own Bitcoin keys, you should hold your own. 984 00:58:24,040 --> 00:58:28,320 comstoosat123.com also has everything you need need to 985 00:58:28,320 --> 00:58:31,480 start building your Bitcoin Citadel, Starling battery 986 00:58:31,480 --> 00:58:35,280 backups, Faraday bags to protect your hardware wallets, and much 987 00:58:35,280 --> 00:58:38,120 much more. It's a one stop shop for anyone 988 00:58:38,120 --> 00:58:40,880 serious about resilience and off grid independence. 989 00:58:40,880 --> 00:58:43,920 Stay connected, stay independent, stay software. 990 00:58:44,120 --> 00:58:49,560 Go to sat123.com/simply today and use promo code simply to get 991 00:58:49,560 --> 00:58:53,160 15% off anything on the store. I want to give a shout out to 992 00:58:53,160 --> 00:58:56,280 our partner Bitkey. If you already self custody your 993 00:58:56,280 --> 00:58:58,480 Bitcoin, you know the. Deal with hardware wallets by 994 00:58:58,480 --> 00:59:00,520 now. Complex setups, clumsy 995 00:59:00,520 --> 00:59:04,520 interfaces and a seed phrase that can be lost, stolen or 996 00:59:04,520 --> 00:59:06,720 forgotten. Bit Key fixes that. 997 00:59:06,880 --> 00:59:10,600 Bit Key is a multi sig hardware wallet built by the team behind 998 00:59:10,600 --> 00:59:13,920 Square and Cash Out. It packs a cryptographic 999 00:59:13,920 --> 00:59:17,360 recovery system and built in inheritance feature into an 1000 00:59:17,360 --> 00:59:21,000 intuitive, easy to use wallet with no seed phrase to sweat 1001 00:59:21,000 --> 00:59:24,000 over. It's simple, secure self custody 1002 00:59:24,080 --> 00:59:27,320 without the stress time names. Bit Key one of the best. 1003 00:59:27,320 --> 00:59:31,960 Inventions of 2024 get 20. Percent off at bitkey dot world. 1004 00:59:32,040 --> 00:59:37,320 That's BITKEY dot world with the code simply. 1005 00:59:43,560 --> 00:59:47,160 Wait, wait, wait. Can I pop in here real quick 1006 00:59:47,160 --> 00:59:49,720 guys? Another bit key giveaway this 1007 00:59:49,720 --> 00:59:52,040 week. So, you know, go to our Twitter. 1008 00:59:52,120 --> 00:59:53,560 All right, go. Yeah. 1009 00:59:53,560 --> 00:59:56,280 So we are giving away a bit key three weeks in a row. 1010 00:59:56,280 --> 00:59:58,640 Look at that. So we are giving away a bit key 1011 00:59:59,080 --> 01:00:00,960 again. This is the best Bitcoin 1012 01:00:00,960 --> 01:00:02,720 hardware wallet on the market right now. 1013 01:00:03,520 --> 01:00:06,440 Incredibly easy to use, has multi sig built in, has 1014 01:00:06,440 --> 01:00:10,280 inheritance built in. Whoa, what happened there? 1015 01:00:10,640 --> 01:00:12,200 All you got to use, all you got to do. 1016 01:00:12,200 --> 01:00:15,640 Very sturdy too. Very sturdy, and I'm apparently 1017 01:00:15,640 --> 01:00:18,480 my laptop too 'cause I literally dropped it on the glass. 1018 01:00:19,600 --> 01:00:24,040 But all you got to do to use it is you tap it and then you tap 1019 01:00:24,040 --> 01:00:27,080 it on your phone and bom, Bing bom, boom, you're ready to spend 1020 01:00:27,400 --> 01:00:29,200 your Bitcoin. And there's the Bitkey app, 1021 01:00:29,200 --> 01:00:33,400 which is awesome and fantastic. And if you use promo code simply 1022 01:00:33,400 --> 01:00:40,400 99 simply 99 simply 99, you can get a bit key for $99 instead of 1023 01:00:40,480 --> 01:00:46,280 150, which is pretty cool. So head over to bit key dot 1024 01:00:46,280 --> 01:00:51,400 world today and get yourself a bit key bit key dot world, bit 1025 01:00:51,400 --> 01:00:53,360 key dot world. All right, everybody. 1026 01:00:53,400 --> 01:00:57,320 So I told you guys that we were going to end it with some some 1027 01:00:57,320 --> 01:01:01,520 some bullish sauce before we drop out today's show. 1028 01:01:04,520 --> 01:01:09,080 What are you laughing about? Familia Diaz of the Checkers, 1029 01:01:09,080 --> 01:01:10,840 Nico. Has such let his hands yeah 1030 01:01:10,840 --> 01:01:14,760 listen, you're. Against. 1031 01:01:17,920 --> 01:01:19,200 You're against. Free. 1032 01:01:19,200 --> 01:01:20,560 Wait, wait. Remember that, Nico? 1033 01:01:20,560 --> 01:01:22,520 Remember that, Nico? That Nico was cool against 1034 01:01:22,800 --> 01:01:24,440 Bitcoin? You're against Dude, we lost 1035 01:01:24,440 --> 01:01:32,560 them. So today's bullish news, ladies 1036 01:01:32,560 --> 01:01:37,760 and gentlemen, is 270 billion two, $170 billion. 1037 01:01:37,760 --> 01:01:41,840 Financial advisor Rick Edelman just explain why Bitcoin is 1038 01:01:41,840 --> 01:01:44,200 going to half, $1,000,000 per coin. 1039 01:01:44,200 --> 01:01:47,000 The average investor doesn't own BTC. 1040 01:01:47,000 --> 01:01:50,800 There's $7.5 trillion waiting to buy. 1041 01:01:50,800 --> 01:01:53,680 Be prepared. So let's check out the clip. 1042 01:01:53,680 --> 01:01:54,880 I believe it's from Altcoin Daily. 1043 01:01:54,880 --> 01:01:56,640 Let's check it out. Here we go. 1044 01:01:58,560 --> 01:02:02,560 As a caveat, I want to remind everybody that this is not a 1045 01:02:02,560 --> 01:02:04,440 straight line. We're not going to go from 1046 01:02:04,440 --> 01:02:07,480 70,000 to 500. It's going to be very bumpy 1047 01:02:07,480 --> 01:02:09,520 along the way, as the past couple of months have 1048 01:02:09,520 --> 01:02:12,280 demonstrated. Nevertheless, I am optimistic 1049 01:02:12,280 --> 01:02:14,200 we'll get to 500,000 and here's why. 1050 01:02:15,880 --> 01:02:21,360 It's simple arithmetic. The the average investor in the 1051 01:02:21,360 --> 01:02:27,200 world does not yet own Bitcoin. I believe that as Bitcoin 1052 01:02:27,200 --> 01:02:30,720 continues to mature, as the crypto marketplace continues to 1053 01:02:30,720 --> 01:02:34,120 expand, both through government holdings, through sovereign 1054 01:02:34,120 --> 01:02:38,640 wealth funds and institutional holdings, endowments, pension 1055 01:02:38,640 --> 01:02:42,400 funds, hedge funds, insurance companies, banks, brokerages, 1056 01:02:42,400 --> 01:02:47,040 etcetera, we will continue to see greater adoption, greater 1057 01:02:47,040 --> 01:02:51,800 inflows into this asset class. If you look at the total value 1058 01:02:51,800 --> 01:02:55,560 of all the world's assets, the total value of stocks on a 1059 01:02:55,560 --> 01:02:59,720 global basis, all the bonds in the world, all the real estate 1060 01:02:59,720 --> 01:03:02,760 in the world, real estate is 3 times bigger than the stock 1061 01:03:02,760 --> 01:03:04,320 market. If you look at the value of 1062 01:03:04,320 --> 01:03:07,520 gold, look at the value of all the cash in the world, There's 1063 01:03:07,520 --> 01:03:11,720 $56 trillion of cash in all the different currencies all around 1064 01:03:11,720 --> 01:03:14,120 the world. Yeah, they're all up and it's 1065 01:03:14,120 --> 01:03:24,240 about 750 or about, yeah, about $750 trillion in total value of 1066 01:03:24,240 --> 01:03:27,480 all of this stuff. If you take the attitude, 1067 01:03:27,720 --> 01:03:32,920 Austin, that everybody who owns a diversified portfolio ends up 1068 01:03:32,920 --> 01:03:38,280 owning just 1% of their portfolio in Bitcoin, that's 1069 01:03:38,320 --> 01:03:41,080 inflows of seven and a half trillion dollars. 1070 01:03:42,320 --> 01:03:46,440 That plus the current value of Bitcoin translates to about 1071 01:03:46,440 --> 01:03:49,320 $500,000 per coin. It's really that simple. 1072 01:03:52,120 --> 01:03:56,240 So I mean, I like simple. Simple's good. 1073 01:03:56,920 --> 01:04:00,440 I like Big's number. What do you think about what he 1074 01:04:00,440 --> 01:04:04,280 said? Well, I, I, I mean, I tend to 1075 01:04:04,280 --> 01:04:08,800 agree. I've been saying for a while, 1076 01:04:09,160 --> 01:04:12,600 like, you know, I This is why I don't really believe in the 1077 01:04:12,600 --> 01:04:17,720 diminishing returns meme is because look, guys, we all know 1078 01:04:17,720 --> 01:04:21,480 this and yes, it's a heuristic. But when you go out and talk to 1079 01:04:21,480 --> 01:04:24,640 normal people, or if you do still talk to normal people, 1080 01:04:24,960 --> 01:04:27,960 even if you talk to your friends and family, the majority of the 1081 01:04:27,960 --> 01:04:31,000 people that we know, again, it's heuristic, it's not perfect, but 1082 01:04:31,000 --> 01:04:33,680 the majority of people that we know don't actually hold 1083 01:04:33,680 --> 01:04:36,520 Bitcoin. It almost seems rare still for 1084 01:04:36,520 --> 01:04:38,600 us to meet people that hold Bitcoin. 1085 01:04:38,600 --> 01:04:41,520 Yes, you start to see more people occasionally if you're 1086 01:04:41,520 --> 01:04:43,800 wearing like some Bitcoin merge, people will come up to you and 1087 01:04:43,800 --> 01:04:46,520 you're like, oh, look, there's more people holding Bitcoin. 1088 01:04:46,760 --> 01:04:49,760 We are going mainstream. Yes, the conversation around 1089 01:04:49,760 --> 01:04:52,800 Bitcoin has increased. We are in all of the headlines. 1090 01:04:53,040 --> 01:04:56,720 But in reality, most people have definitely heard about Bitcoin. 1091 01:04:56,720 --> 01:04:59,960 We're starting to see the media, you know, some of the on on the 1092 01:04:59,960 --> 01:05:02,560 street conversation. So like everyone is familiar 1093 01:05:02,560 --> 01:05:07,880 with the idea of what Bitcoin is now, but it's still very few 1094 01:05:07,880 --> 01:05:11,120 people hold Bitcoin. And when you look at total, 1095 01:05:11,320 --> 01:05:13,920 total wealth, you know, going a little bigger than what Rick 1096 01:05:13,920 --> 01:05:17,760 Edelman said, when you look at total wealth, total capital, 1097 01:05:17,760 --> 01:05:21,600 Bitcoin is still at like point, you know, it was .02 and we were 1098 01:05:21,600 --> 01:05:24,360 at 2 trillion. Now it's what, .013 or something 1099 01:05:24,360 --> 01:05:26,400 like that. It's like there's really not 1100 01:05:26,400 --> 01:05:29,680 that much capital in Bitcoin, which is always interesting when 1101 01:05:29,680 --> 01:05:32,680 you realize how much attention Bitcoin actually gets. 1102 01:05:33,120 --> 01:05:36,480 Bitcoin gets all of the attention for, you know, from 1103 01:05:36,520 --> 01:05:39,680 our perspective, for the right reasons and from the people that 1104 01:05:39,680 --> 01:05:42,800 don't like Bitcoin for what I would argue the wrong reason is, 1105 01:05:42,880 --> 01:05:45,120 is what we always say they're they're totally afraid of 1106 01:05:45,120 --> 01:05:49,400 Bitcoin because if most people use Bitcoin, then the financial 1107 01:05:49,400 --> 01:05:52,080 world, the traditional financial system that we're familiar with 1108 01:05:52,080 --> 01:05:53,680 it, it's going to fundamentally change. 1109 01:05:53,680 --> 01:05:56,720 And then of course, those people in power obviously going to lose 1110 01:05:56,720 --> 01:06:01,160 power because money is power. And so I totally agree with 1111 01:06:01,160 --> 01:06:04,160 this. Like we are seeing the start of 1112 01:06:04,160 --> 01:06:07,680 Wall Street, of the institutions of the world start to dip their 1113 01:06:07,680 --> 01:06:10,440 toe in Bitcoin. And yes, it hasn't been as good 1114 01:06:10,440 --> 01:06:11,840 as we thought it was going to be. 1115 01:06:12,000 --> 01:06:14,160 It hasn't even really been that much capital. 1116 01:06:15,320 --> 01:06:19,040 And we've seen when they when they actually buy Bitcoin in 1117 01:06:19,040 --> 01:06:21,200 bulk, we've seen what it does for the market. 1118 01:06:21,440 --> 01:06:24,720 You know, Bitcoin has basically gone sideways, but when there 1119 01:06:24,720 --> 01:06:28,760 was a a huge amount of of buying in what was basically a 1120 01:06:28,760 --> 01:06:33,240 contraction year, Bitcoin still hit all time high and it really 1121 01:06:33,240 --> 01:06:35,360 didn't have that much inflow. It really didn't have that much 1122 01:06:35,360 --> 01:06:37,280 liquidity pushing it up to where it is. 1123 01:06:37,280 --> 01:06:39,760 Like it really didn't have that much interest. 1124 01:06:39,760 --> 01:06:42,160 Like we didn't have the shoeshine boy metaphorically 1125 01:06:42,160 --> 01:06:44,360 talking about Bitcoin. You weren't getting the Ubers 1126 01:06:44,360 --> 01:06:46,600 and they're, you know, talking about Bitcoin. 1127 01:06:46,600 --> 01:06:49,840 I think most people got wrecked in shit coins in 2021 and 1128 01:06:49,840 --> 01:06:53,640 they're not back in the Bitcoin markets at all. 1129 01:06:53,960 --> 01:06:58,840 And so I, I totally agree that once we see a, you know, even if 1130 01:06:58,840 --> 01:07:03,000 it's 1%, like he was doing the math for, if we see 1% of total 1131 01:07:03,000 --> 01:07:08,000 capital going to Bitcoin, like we, we really don't realize how 1132 01:07:08,000 --> 01:07:11,000 much capital is in the world and how little capital it actually 1133 01:07:11,000 --> 01:07:14,680 takes to pump Bitcoin. And yes, we're starting to see 1134 01:07:14,680 --> 01:07:19,280 that probably the whole idea of the regulatory clarity is, is 1135 01:07:19,280 --> 01:07:22,000 definitely holding back a lot of these big institutional 1136 01:07:22,000 --> 01:07:23,760 investors or, or investors with capital. 1137 01:07:24,120 --> 01:07:28,000 And maybe they bought and you know, to them it, it's not that 1138 01:07:28,000 --> 01:07:30,480 much, but to us, you know, they're buying 10s of millions 1139 01:07:30,480 --> 01:07:33,240 of dollars of Bitcoin. But compared to some of these 1140 01:07:33,240 --> 01:07:37,080 asset managers total capital, it's like literally a rounding 1141 01:07:37,080 --> 01:07:38,680 error. It, it's just like that's just 1142 01:07:38,680 --> 01:07:40,920 throw a little bit in there just in case, you know, basically 1143 01:07:40,920 --> 01:07:43,480 throw our pennies in there just in case this thing catches on. 1144 01:07:44,120 --> 01:07:48,560 But once we start to get a fervor, once we do see the FOMO 1145 01:07:48,560 --> 01:07:52,120 come back, once we do see the price of Bitcoin go up again and 1146 01:07:52,120 --> 01:07:55,640 people are, you know, caught up in the greed and they want to 1147 01:07:55,640 --> 01:07:58,400 buy Bitcoin again, 'cause look, I've said it before, I'll say it 1148 01:07:58,400 --> 01:08:00,200 all the time. You guys hate it because, you 1149 01:08:00,200 --> 01:08:03,600 know, one Bitcoin equals one Bitcoin, but people chase the 1150 01:08:03,600 --> 01:08:06,200 price of Bitcoin. When the price goes up, that's 1151 01:08:06,200 --> 01:08:08,520 when people get excited. That's when people get greedy, 1152 01:08:08,520 --> 01:08:10,440 that's when people come back into Bitcoin. 1153 01:08:10,680 --> 01:08:14,760 The price of Bitcoin is the best thing for the adoption of 1154 01:08:14,760 --> 01:08:17,439 Bitcoin. Look, don't shoot the messenger. 1155 01:08:17,439 --> 01:08:20,520 That's just how it works. When the price goes up, more 1156 01:08:20,520 --> 01:08:23,479 people want to invest in it. A lot of bitcoiners have called 1157 01:08:23,479 --> 01:08:26,560 it a beblin good that the more expensive it gets, it doesn't 1158 01:08:26,560 --> 01:08:28,040 actually push people away from it. 1159 01:08:28,040 --> 01:08:29,560 It actually attracts people to it. 1160 01:08:30,080 --> 01:08:32,720 And so I, I totally agree with the math of this. 1161 01:08:32,720 --> 01:08:36,000 It's like if 1% of total capital. 1162 01:08:36,000 --> 01:08:39,640 Well, he used, he didn't use total capital, he used equities 1163 01:08:39,960 --> 01:08:46,040 around 750 million, you know, $7 trillion or sorry, 750 trillion, 1164 01:08:46,439 --> 01:08:48,960 1% of that $7 trillion gets in the Bitcoin. 1165 01:08:48,960 --> 01:08:52,479 It's like that's going to take Bitcoin to the stratosphere and 1166 01:08:52,479 --> 01:08:58,279 it's not going to necessarily pull back if people are with 1167 01:08:58,279 --> 01:09:02,240 conviction holding Bitcoin. So like I, I think the math, the 1168 01:09:02,240 --> 01:09:04,000 math is very simple. It is simple math. 1169 01:09:04,000 --> 01:09:06,800 It's just really what we are seeing. 1170 01:09:06,800 --> 01:09:09,600 And it really reminds me of what Lynn Alden said in the beginning 1171 01:09:09,600 --> 01:09:14,160 of the show, that what we've seen so far is that either one, 1172 01:09:14,160 --> 01:09:18,640 people don't care about a sovereign store of wealth or 1173 01:09:18,640 --> 01:09:21,479 two, they just don't understand what this idea is. 1174 01:09:21,479 --> 01:09:24,399 And This is why this is such a good opportunity for us. 1175 01:09:24,439 --> 01:09:26,720 And me and Nico have been talking about this for a while 1176 01:09:27,439 --> 01:09:30,760 is like with the institutions coming in a lot of this inflow 1177 01:09:30,760 --> 01:09:35,160 into the ETS, it does seem like self custody did kind of get put 1178 01:09:35,160 --> 01:09:37,960 into the corner and people, or rather maybe the the more 1179 01:09:37,960 --> 01:09:41,640 extreme scarier idea. Yeah, Yeah, exactly. 1180 01:09:41,640 --> 01:09:44,160 But the more scarier idea. Colombian Hitman. 1181 01:09:45,600 --> 01:09:49,760 Bro the the worst idea here is maybe just most people don't 1182 01:09:49,760 --> 01:09:53,399 care about it and that's where it really is. 1183 01:09:53,399 --> 01:09:57,360 Like OK, maybe if you take this to the logical conclusion 1184 01:09:57,440 --> 01:10:01,320 conclusion, it's not that Bitcoin fails per SE because 1185 01:10:01,320 --> 01:10:04,480 it's a bad idea. It fails on apathy that people 1186 01:10:04,480 --> 01:10:08,480 are either just so doomed like you so black pilled just don't 1187 01:10:08,480 --> 01:10:11,360 care about self sovereignty, don't care about freedom and 1188 01:10:11,360 --> 01:10:14,080 sovereignty in general. They're just like, whatever 1189 01:10:14,080 --> 01:10:17,200 dude, there's no escaping this, why should I even try? 1190 01:10:17,480 --> 01:10:19,640 It's the apathy. It seems like people just don't 1191 01:10:19,640 --> 01:10:22,040 care about this thing. They don't care about self 1192 01:10:22,040 --> 01:10:23,920 custody. They don't care about hard 1193 01:10:23,920 --> 01:10:27,840 capped and scarcity. And maybe it is an education 1194 01:10:27,840 --> 01:10:32,040 thing, maybe this is a human nature thing, who knows. 1195 01:10:32,040 --> 01:10:35,240 But I would argue that that's what we're seeing right now is 1196 01:10:35,240 --> 01:10:38,680 most people just don't care. And that's why we're seeing the 1197 01:10:38,680 --> 01:10:41,440 price of Bitcoin go where it is, which is in the dumps. 1198 01:10:41,760 --> 01:10:44,840 But I think once the price does come back, I mean, Nikka, what? 1199 01:10:44,840 --> 01:10:49,400 It's been four years, five years now since we've seen some price 1200 01:10:49,400 --> 01:10:51,440 action. So I don't really blame most 1201 01:10:51,440 --> 01:10:53,120 people for not getting into Bitcoin. 1202 01:10:53,120 --> 01:10:55,960 I know when I got in the Bitcoin, Bitcoin was rallying. 1203 01:10:55,960 --> 01:10:58,400 And then after the fact, as the meme goes, you know, you come 1204 01:10:58,400 --> 01:11:00,840 for Bitcoin for the money, but you stay for the revolution. 1205 01:11:01,640 --> 01:11:03,120 I didn't know anything about Bitcoin. 1206 01:11:03,120 --> 01:11:06,360 I didn't know anything about the sovereignty scarcity aspects of 1207 01:11:06,360 --> 01:11:08,760 Bitcoin until after I got into the market. 1208 01:11:09,160 --> 01:11:12,480 And I had to really try to understand what this Bitcoin 1209 01:11:12,480 --> 01:11:14,720 thing is because it did seem like a phenomenon. 1210 01:11:14,720 --> 01:11:18,960 It did seem like this world paradigm changing movement. 1211 01:11:19,560 --> 01:11:23,000 And then you're like, oh, now you know, I, I can pivot. 1212 01:11:23,000 --> 01:11:25,600 And it's like the, you know, the classic meme of with the gold 1213 01:11:25,600 --> 01:11:28,440 chains, like I'm in it for the I'm in it for the tech bro, but 1214 01:11:28,440 --> 01:11:30,280 in reality, you're here for the games. 1215 01:11:30,760 --> 01:11:35,400 And so until we see the price start running again and we see 1216 01:11:35,400 --> 01:11:39,720 people start following into Bitcoin again, you know, we can 1217 01:11:39,720 --> 01:11:43,160 cope all we want about, oh, this is the real reason for Bitcoin, 1218 01:11:43,160 --> 01:11:47,040 you know, sovereignty, privacy, censorship, resistance, all that 1219 01:11:47,040 --> 01:11:52,040 stuff that we love. But as we've seen, the masses 1220 01:11:52,040 --> 01:11:55,200 don't care about that. Or maybe they're just not 1221 01:11:55,200 --> 01:11:56,920 educated. Now, maybe we've all turned our 1222 01:11:56,920 --> 01:11:58,600 brains off. Maybe not Bitcoiners, but the 1223 01:11:58,600 --> 01:12:00,160 majority of people have turned their brains off. 1224 01:12:00,640 --> 01:12:05,400 And so, like, I, I, I agree with the sentiment that, yeah, once a 1225 01:12:05,400 --> 01:12:09,320 small portion of global capital comes into Bitcoin, the math is 1226 01:12:09,320 --> 01:12:10,960 simple. And Bitcoins going up. 1227 01:12:11,600 --> 01:12:14,080 The flip side of that coin is like, do people care? 1228 01:12:15,000 --> 01:12:19,400 Is it human nature for us to not really care about this stuff? 1229 01:12:19,400 --> 01:12:21,240 Maybe it is too complicated for most people. 1230 01:12:21,240 --> 01:12:24,560 Maybe we are overestimating people's intelligences here. 1231 01:12:24,680 --> 01:12:27,040 Maybe we are the smart ones in the room, which is really 1232 01:12:27,040 --> 01:12:29,760 probably the biggest black pill out of everything. 1233 01:12:29,760 --> 01:12:33,520 If we're the smart ones here, dude, we're cooked like it's 1234 01:12:33,560 --> 01:12:38,560 over for, for humanity forever. So I, I still have some hope 1235 01:12:38,560 --> 01:12:42,640 that I think people will wake up to this because we, you know, 1236 01:12:42,640 --> 01:12:45,600 maybe this is our incentive. Maybe this is my coat because 1237 01:12:45,600 --> 01:12:48,520 this is our business that we, we're here to try to get more 1238 01:12:48,520 --> 01:12:52,200 people into Bitcoin. But it, it is one of those 1239 01:12:52,200 --> 01:12:54,200 things where like, yeah, the math is simple. 1240 01:12:54,200 --> 01:12:56,680 A little bit of capital from global markets getting into 1241 01:12:56,680 --> 01:12:59,240 Bitcoin, at least in a percentage term, will drive 1242 01:12:59,240 --> 01:13:01,520 Bitcoin to crazy astronomical numbers. 1243 01:13:02,120 --> 01:13:04,920 But we've been doing this for so long and it hasn't happened yet. 1244 01:13:04,920 --> 01:13:07,640 And that makes you feel like, well, it ever happened. 1245 01:13:07,640 --> 01:13:09,920 So maybe it is just bear market things. 1246 01:13:10,440 --> 01:13:14,960 Anyway, it's bullish. Bullish in general. 100% bear 1247 01:13:14,960 --> 01:13:18,440 market things and but enjoy it guys. 1248 01:13:18,440 --> 01:13:22,040 Enjoy these moments because this is when the tourists leave. 1249 01:13:22,200 --> 01:13:25,320 These are the most opportune moments for you to buy. 1250 01:13:25,440 --> 01:13:27,240 Like look, I'll put it to you this way. 1251 01:13:28,840 --> 01:13:30,680 Have we reached full capitulation yet? 1252 01:13:30,680 --> 01:13:36,440 I don't think so, but these moments is the equipment of like 1253 01:13:36,440 --> 01:13:43,120 buying Bitcoin at 2022 K AT30K in the previous cycle. 1254 01:13:43,120 --> 01:13:45,960 It's the same vibe, same feeling. 1255 01:13:45,960 --> 01:13:48,600 People are exhausted, people are tired. 1256 01:13:49,080 --> 01:13:52,560 Last cycle was like, Oh my God, Bitcoin didn't hit 100,000, it 1257 01:13:52,560 --> 01:13:58,720 only hit 69,000. And that same feeling comes up 1258 01:13:59,200 --> 01:14:01,880 and it's when people aren't paying attention. 1259 01:14:01,880 --> 01:14:04,680 It's when people are doubting Bitcoin. 1260 01:14:04,680 --> 01:14:07,640 It's when people are saying, Oh my God, it's the FUD. 1261 01:14:07,640 --> 01:14:10,400 Oh my God, it hasn't outperformed like gold has. 1262 01:14:10,640 --> 01:14:13,560 It hasn't performed like, you know, all these other assets. 1263 01:14:13,560 --> 01:14:16,000 It hasn't performed like my expectations. 1264 01:14:16,280 --> 01:14:21,800 It's these precise moments where people leave, the tourists 1265 01:14:21,800 --> 01:14:25,040 leave, people don't see opportunity in Bitcoin again. 1266 01:14:25,240 --> 01:14:28,560 I mean, you, you heard it from from Willie Wu in the in the 1267 01:14:28,560 --> 01:14:33,000 very beginning of of the show. I can find alpha somewhere else, 1268 01:14:33,000 --> 01:14:35,560 right? These are the moments when 1269 01:14:35,560 --> 01:14:39,720 everyone thinks Bitcoin is out for the count, when everyone 1270 01:14:39,720 --> 01:14:43,280 thinks that it's it's over for Bitcoin, the best gains are 1271 01:14:43,280 --> 01:14:46,440 behind it. Those are the times historically 1272 01:14:46,520 --> 01:14:49,400 when it's the best time to dollar cost average. 1273 01:14:49,560 --> 01:14:53,640 Because when it rips, it rips from this, from this base. 1274 01:14:53,800 --> 01:14:57,400 You don't want to, you don't want to pile into Bitcoin again 1275 01:14:57,400 --> 01:15:00,560 2-3 years from now when the when the when the price is at two 1276 01:15:00,560 --> 01:15:04,120 $300,000 per coin, right? Because then when it corrects 1277 01:15:04,120 --> 01:15:05,640 again, it's going to go back to 100 1000. 1278 01:15:05,640 --> 01:15:08,800 You'd be like, Oh my God, about the top you have to buy in these 1279 01:15:09,080 --> 01:15:12,200 in, in these exact moments. These are the most opportune 1280 01:15:12,200 --> 01:15:14,360 moments to get into Bitcoin in my opinion. 1281 01:15:14,360 --> 01:15:16,400 And, and what do I know? I've just, you know, I've been 1282 01:15:16,440 --> 01:15:18,680 doing this for, you know, just a little bit. 1283 01:15:19,000 --> 01:15:22,840 Anyways, I do want to give a shout out to, of course, one of 1284 01:15:22,840 --> 01:15:26,560 the sponsors of the show Bitcoin 2026. 1285 01:15:27,440 --> 01:15:29,120 It's going to be in Las Vegas, NV. 1286 01:15:30,240 --> 01:15:32,840 Some part of the simply Bitcoin crew is going to be there. 1287 01:15:32,840 --> 01:15:34,440 You definitely don't want to miss it. 1288 01:15:34,680 --> 01:15:39,520 It's April 27th through the 29th at the Venetian Hotel in Las 1289 01:15:39,600 --> 01:15:42,960 Vegas. 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I call it the Bitcoin Super Bowl 1292 01:15:52,640 --> 01:15:56,280 weekend is the biggest Bitcoin celebration of the year. 1293 01:15:56,440 --> 01:15:59,600 You definitely do not want to miss it. 1294 01:15:59,920 --> 01:16:05,360 Go to Bitcoin 2026 in Las Vegas, NV at the Venetian Hotel. 1295 01:16:05,480 --> 01:16:09,760 Use promo code simply to get 10% off your tickets and of course, 1296 01:16:09,920 --> 01:16:12,200 the simply Bitcoin crew will be there. 1297 01:16:12,480 --> 01:16:17,200 Again, go to Bitcoin 2026, scan the QR code on your screen or 1298 01:16:17,200 --> 01:16:19,920 check the link in the video description and we'll see you 1299 01:16:19,920 --> 01:16:22,840 guys at the Las Vegas conference. 1300 01:16:23,080 --> 01:16:25,480 All right, everybody, I do want to thank everybody for tuning 1301 01:16:25,480 --> 01:16:27,200 in. If you guys enjoyed the show, 1302 01:16:27,200 --> 01:16:30,080 you know what to do Smash the like button consider subscribing 1303 01:16:30,080 --> 01:16:33,360 to simply Bitcoin live help us get through the bear market. 1304 01:16:33,360 --> 01:16:36,640 It is going to be, it is, it is going to be a little bit brutal. 1305 01:16:36,640 --> 01:16:38,480 Yeah, someone said. We we're probably going to get, 1306 01:16:38,480 --> 01:16:40,240 we're probably going to need new jobs soon. 1307 01:16:41,760 --> 01:16:43,360 Let's see. Honestly, it might be true. 1308 01:16:43,360 --> 01:16:47,480 Let's see help us get through the bear market and again, if 1309 01:16:47,480 --> 01:16:49,080 you guys enjoyed the show, you know to do smash the like 1310 01:16:49,080 --> 01:16:52,200 button, consider subscribing and again, we'll be back tomorrow 1311 01:16:52,200 --> 01:16:55,280 for a brand new episode of simply Bitcoin live. 1312 01:16:55,280 --> 01:16:59,040 Until then, take care everybody. Today's episode was brought to 1313 01:16:59,040 --> 01:17:02,600 you by bitcoinwell.com, a Bitcoin only platform on a 1314 01:17:02,600 --> 01:17:04,920 mission to enable financial independence.