It's. All going to zero against
Bitcoin. It's going up.
Forever. You're against Bitcoin.
You're against freedom. Yeah.
Welcome to another episode of Simply Bitcoin Live.
We're the number one source for the peaceful Bitcoin revolution
called Breaking News, Culture, Dramatic Warfare.
We will be your guide through the separation of money and
state technical difficulties. This morning I couldn't get my
green screen to work. I was having trouble connecting
to restream. But the good news is that we're
pumping. We're pumping.
I think we went from like 38 K We touched Fit 42K last night.
Everyone's been losing their minds.
Opti and I were talking about this off air.
It's like 2 years in a bear market.
Finally seeing the light at the end of the tunnel.
Things feel good. People are optimistic.
Adam Back is dropping crazy, crazy price predictions.
He's calling for $700,000 Bitcoin.
Samsung now is calling for $1,000,000 Bitcoin.
We're going to break all of that down for you guys today.
We have all the receipts and we have a very, very special guest
as well. We have the Bitcoin Atlantis
that's being thrown in Maida, Portugal.
How you doing Andre? Welcome to the show.
I'm. Good.
Thanks for having me. Well, we're excited, excited to
have you and excited to talk about what's going on with the
event that you're throwing. You have a lot of high profile
speakers flying from all over the world going to this, this
little, this little islands off the coast of Portugal.
What's happening there? I know that the President of
Portugal, for example, spoke or or or the.
I don't, I don't know what the correct terminology is, but he
spoke at either Bitcoin 2022 or Bitcoin 2023 and that was a big
deal. Yes, but it's the president of
Madara, not the president. President of Maida.
See, that's why I'm asking you.
That's why I'm asking you. Well, it would be amazing to
have the president also there, the the, the big main one, but
that's not possible so. Hey, never say not possible yet.
Yet yet. We have elections next March, so
who knows? Just actually one week after the
conference, we have elections for the national government, so
who knows? Yeah, there you go.
So if you live in, you live in Portugal, you know what to do.
Anyone who's always optimistic Opti, what's going on with
restream, bro. I don't know bro, You're having
all kinds of well, actually guys, for once this is not my
fault. This is Nico's fault.
So shouts out to the chat, making fun of Nico and not Opti
this morning. But hey man, big fun of the
show. Pile in because.
I don't know what's here. We made it.
We made it.
As Nigel was saying, you guys need to lower your time for.
No, no, we're we're, we want to hit our normal time guys.
But hey, it's Monday. It's going to be a chaotic week.
And hey, we showed up, so we're doing the best we can with what
we got working today. Nico, Don't update your
computers, bro. Yeah, don't don't update if you
use restream on your Mac. Like, don't operate your
operating system because it just messes everything up anyways.
I do want. To talk to updating Ledger,
right? Ledger makes a backdoor.
Maybe. Maybe the new operating system
that made a backdoor? I don't know.
Who knows? Update Oh man, Don't update,
don't update. That's for sure.
So Opti was talking about it being a heptic week.
Yes, simply Bitcoin is going to be traveling to Unconfiscatable
in Las Vegas. We're going to be doing some
awesome interviews with high profile speakers and I think
we're gonna be also live streaming the conference as
well. So we will be traveling.
We might miss an episode or two. Just letting you guys know, but
it overall it should be an awesome, awesome week.
All right guys, no more delay. Let's jump straight into the
show. We have a lot to talk about
today. Let's check it out.
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Stamp your seed on stamp seed. But because restream is bugging
for me. Yeah, your audio is a little
weird. Too in the video description.
Yeah, I I have no idea what's going on Opti.
Let me know if you. Did this one keep it going?
At the time of recording the Bitcoin price is 41,710 SATS per
dollar 2398 block height 819,700 seven 167 blocks to having
20,233 having estimate April 19, 2024 Total Lightning Network
capacity 5041 Bitcoin capacity value roughly 210 million U.S.
dollars Realized Monetary inflation 1.75% The market
capitalization of Bitcoin $816 billion with the B almost at a
trillion dollars. We're almost there.
Bitcoin versus gold market cap 5.92% Definitely a definitely a
big big big leg up. Anyways, this was an ad that
dropped over the weekend or last week, and originally it was a
Coinbase ad, but of course some bitcoiners hijacked the ad and
made it a Bitcoin ad opti let me know if you can hear this
system, Emma yeah? We're born into it, A system
with numbers and papers and lines and waiting.
You work. Hard Get good grades, Go to
college. I want to go to college.
I got good grades. I overachieved.
That's right, she did. Debt is good.
Debt. Is so good.
So much debt. I can totally save up and.
Buy a house and start a family. I want a family.
Oh, Starting a family means you need two or three jobs.
You can't afford to buy. Oh, you can't afford to rent.
Used cars cost as much as the new ones.
Oh, it's weird. Good debt is good.
Ahead of my classes are too expensive, work hard, get good.
The system did not rent. Is freaking interesting.
Breaking news. Everything is terrible.
Does it have to be this way? What if it was different?
It's always been that way. We've got to build our way out
of it. Yeah.
Book control packed in the hands of the people.
Not the. Bureaucracy.
A system with less paperwork, no waiting, no lines permission
less Just because. You're born into a system.
Doesn't mean you have to live with it.
So of course Bitcoiners hijacked that that that that ad.
Originally it was a Coinbase ad. And then of course, Bitcoiners
took the ad, took out the Coinbase logo, and then replaced
it with a Bitcoin logo. So it was very, very fitting.
But what I got to say about that is that, look, the overall
messaging was on point. Like I think they correctly
identified the problem. Now where I think they do a
disservice is that they're just leading people into shit coins
and saying, OK, shit coins are going to fix the solution versus
what Bitcoiners know it's that you know it's Bitcoin or
slavery. Bitcoin is the solution.
And another thing that they said is like, we got to remove the
bureaucracy, we got to remove the red tape.
Look, if you opt out of Fiat currencies, you're replacing the
your central banker with the shit coin developer because they
have the ability to change the monetary policy at a moment's
notice to benefit themselves at the expense of everyone else,
right? So you know, again, I understand
Coinbase, it's a public company. They put they bet behind, you
know, they bet behind the shit coins.
They're going to die on that hill.
It is what it is. But This is why me, Maddox are
so important. We were able to hijack it and
put a Bitcoin logo at the end and you know, and get our
message out that way. Anyways, I want to get Andre's
take on this. Andre, what's your take?
Especially on the messaging. The messaging of the ad was very
powerful in my opinion. You know, I think the most
important part is there are hordes of people that now
understand the breaking news. Everything is terrible part and
it's it's what's lacking is just that final step on understanding
what the solution is. But they're coming and it was a
magnificent ad actually. It was really good.
And we're seeing the hordes just, you know, unpleased,
unsettling. And here on the first world, you
know, it takes longer because things are not so broken as as
many other countries. So they get it first, which is
actually an equalizer in itself. It's not a problem, but it will.
It will eventually come and it's coming fast.
And in in Europe, we feel it a lot.
You know, everything's breaking. You know, the confidence in in
in in the old hits in the government, it's it's never been
so low. So it's coming and it's coming
soon and we're here to help everyone on board the escape I.
Understand that's that's the job of bitcoiners is we we have to
show them the escape valve to use Christine Lagarde's own
words to use the head of the European Central Bank, right.
Anyways, Speaking of Christine. Because our best friend,
actually, you know, she's just making everything faster.
You know, did. You know that she dated Opti.
Rather I tried to date her I. Tried.
I bet. I bet you didn't see it coming.
You know at the. Top Opti was trying to get as
close as possible to the to the Contilionaire spigot and Opti.
What happened between you guys? I don't know.
I I think I'm too outside the Elverton window.
Maybe. Maybe I'm too young.
I don't know. You know, I tried.
Did she dump you or you dumped her?
Well, she belongs to the street, so I dumped her.
You know, I I she she wouldn't let me get close to the money
printer, so I had to escape and find my own exit route.
But that's deep. That's deep anyway.
What do you what do you what? Do you think?
What do you think about the? Video Honestly, I I didn't see
it until now. I saw everyone was talking about
it on Twitter. I didn't know that was a
Coinbase ad, but to be honest, that messaging is is very good
and I hopefully it was Ronan who like, changed.
I don't know what the end looked like.
Maybe it like popped up Coinbase or something.
You know, Coinbase has had some very bad ads for a while, but
this one is very on point. It's kind of what we've been
talking about here on the show for a long time, that the powers
that be the the Cantillion insiders, the central bankers,
the politicians, everyone that paints Bitcoin as being criminal
or something to avoid, are really doing the best
advertising for Bitcoin that we could even imagine.
Because everything's getting more expensive, You know,
they're getting more tyrannical. They're trying to stifle the
freedom of speech. They're trying to stifle
information. And look, you know, Bitcoin just
hit 41 K Bitcoin is pumping. And so it's something you said
to me a long time ago, Nico. It's like you can't hide the
shock of inflation and now everyone is feeling it's
becoming the defining conversation.
Right now people are wondering what is going on with the money?
What is going on with inflation? Why is everything getting more
expensive? Why are why is shrink inflation
a thing? Like, why are they printing more
money? What is going on here?
And so these are the questions that lead people to asking
themselves what is money? What is the best money?
What is Bitcoin? And now that Bitcoin is, I think
officially in a bull run, at least by all metrics, we've
probably been in a bull run all year.
I know you guys have been yelling at me.
It's like we've been in the bull run for the whole year.
I know that. I think we're at like, what,
150% price appreciation this year in Bitcoin alone.
It's becoming very clear to everyone out there.
It's like, wait, what is the problem and is there a solution?
And this is what we talk about constantly on the show.
Like, yo, if you're an average person of average means you
can't save in dollars, life is getting more expensive, you're
barely able to make ends meet, people are working two to three
jobs and still living paycheck to paycheck, well, you might
want to look for an alternative. And of course that alternative
is Bitcoin. There is Bitcoin, and then there
are shit coins and everything else is a shit coin in
comparison to Bitcoin. And so, again, I've been saying
this for a while, and I'm glad that Nico's finally getting
stupidly bullish, you know, saying that we might not be
seeing diminishing returns anymore.
We're asking, we're asking the chat right now.
About 86 of you have already voted.
Does diminishing returns break this cycle?
56% of you said yes, it does. I'm going to pass it on to
Andre. Andre, do you believe in the
diminishing returns theory? I don't know.
I believe that this one always surprises you.
So I wouldn't bet on any any of any of the outcomes.
I'm you know, I just believe in the low long term perspective on
the thing and there it will break everything.
As a seller put it, all models are destroyed and it will
eventually break everything but on a good way.
So, and it's not the first time that cheap corners do good ads.
I still remember FTX on the golden bowl or whatever it was.
It was kind of funny and it was on point at the time as well.
Yeah. We all know why it ended up but.
Oh man, I I do remember that. Yeah, dude, the shit corner,
man. We we got to step up our game as
bitcoiners and get. On this good parking department,
man, they're good at it. So it's.
They're really good. They're really good at it.
I mean, I was literally joking with Nico the other day.
I was watching a a football game by chance and it was like
blockchain.com all around the arena.
I'm like, yo, like these shit corners are everywhere, man.
Like we need to get some of that shit coin money.
If only we didn't have principles, man.
They're everywhere. You know, in Europe we are, you
know, big, big football fans. There's shit corners on almost
every shirt. Even my, my, my favorite team in
Portugal, they have been ants here.
I don't know if people know this as well, but Cristiano Ronaldo,
for example, is from the data. And you know, actually there was
a couple of news today or yesterday that is being sued.
So you lay your own bed, man. You'll eventually learn.
So it's good. Oh man.
All right, Opti, let's jump straight into the culture.
We could talk about Bitcoin Atlantis, and then we'll hit the
news. We'll talk about Adam Back's
crazy price prediction in the news in the segment after that.
But first, I do want to give a shout out After Bitcoin 2024,
it's going to be the largest Bitcoin conference of the year.
It's going to be hosted in Nashville, TN, July 25th through
the 24th. Opti and I are going to be
there. You can get your tickets now.
Aga ticket is 349, an Industry pass.
The prices did go up. I've been warning you guys, the
Industry Pass did go up to 1099. The Industry Pass gives you
access to three days of the conference and the VIP Pass.
The Whale Pass gives you access to three days of the conference
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You can get yourself AVIP ticket for 4999.
You can use the promo code simply to get a major discount
to Bitcoin 2024. Get your tickets quickly before
the prices increase again. All right, everybody, let's hit
the news. The Daily Culture.
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Let's go. So I got this, Nika.
I got this. You're you're you're you're
getting lost in the matrix right now.
All right, so, Andre, you've been talking about Madera
Portugal, and we will get to the Bitcoin Atlantis at the end of
this. But let's start with your first
project. What is freemadera.com?
What are you working on? Well, you cannot disconnect the
project the free meter from the conference because free meter
organizes the conference and it's part of the objectives as
well. But yeah, free meter is in the
basis of it all. It's a, it's a non profit.
So basically it was set up to for the high, you know, level of
adoption and and education of all Bitcoin touches in our
region in our archipelago. And we have a lot of plans.
You know, Bitcoin touches everything.
So it goes from education to remittances.
We have a big diaspora outside of Madar as well, a big
connection to Venezuela and other places energy.
We're working with the public power company on educating them
to integrate mining and other, you know, other parts of the
technology in their services. We're creating a Bitcoin
business hub where we'll have the free Madar headquarters, the
meet ups, the podcast, the you know sovereign engineering
projects, so educational projects inside and and
especially a place where Bitcoin companies can incorporate work
from there with a Co working space, you know private offices
and so on. So many, many good long term
projects that we're trying to establish.
Some of them are already, you know, full on, some are still on
the planning. But there's many, many good
goals for for the for the overall organization And my dad,
of course. Awesome.
Love it. Love it.
OK, so let's just jump straight into Bitcoin Atlantis for those
listening in audio. How is Bitcoin Atlantis shaping
up? When is it?
What can people expect? All that good stuff.
No, I was shaping up, shaping up to be a great week in Madara.
You know since we decided to do it, it grew.
It became this monster conference that we're doing in a
stadium in downtown for Shaw. We're hoping to get 5000 people.
Things are going very well on ticket sales.
So we're, we're probably almost there.
And yeah, we because of our Advisory Board that we have at 3
Madara, you know, with people like Jeff Booth and Tracross and
Samson and Obi and you know, so many good people helping us, we
were able to reach out to this long list of of speakers that
are already on board. We have many, actually many more
news to give on the following months.
There's a lot more that you can see on the page right now.
But of course we have all the big names.
Jack Dorsey, Michael Seller, Jack Mahler, Jeff Boots.
You know, list goes on. Add them back Giacomo Obi, I
don't know. There's over 120 speakers
confirmed and that will be on the 2 main stages, the Mainstage
and the open source stage. But for in our view it's also a
a mainstage because a lot of good conversation is going to
happen there and and a bunch I mean a serious bunch of
satellite events that we can speak in more detail.
But it's going to be a full week of activities in in in the
island and in the venue and in many other smaller venues around
and even some nature ones not related to you know to to
Bitcoin itself, parties and music festival.
The list goes on because we we decided from start, you know,
but but that is a is already a very, oh can I say a very known
touristic destination and an amazing place to to spend the
vacation. So we decided to make it a full
week and if people are coming to Madera, why not spend some
vacations. So we invite people to come a
few days before, go a few days after and get to know the
island. There will be a lot of
activities of nature like boat trips and hiking and many other
things to do. So just, you know, treat it as a
vacation with the family and, you know, with an amazing
conference in the middle of it. Love it.
OK.
For the audio listeners go Mika, I can hear you give.
Me an update? Am I coming in clear?
OK, Yeah. Yeah.
I don't.
Know guys, don't update your computer.
So yeah, you can use promo code simply right now and it will
give you AI. Think it's a 10% discount if you
guys want to get your tickets to Bitcoin Atlantis?
And Maleida, Opti, yeah, yeah, I just want for the audio
listeners, Andre, when exactly is this conference?
So do the conference. The main days are 1-2 and three
of March. That's Friday, Saturday, Sunday.
But the events start three days before.
I think the first main event is a golf championship.
We're calling it the whole corner.
So for every golf aficionado, it could come three days before
this amazing golf course that we have in the mountains, beautiful
views. It's going to be a fun day with
finishing with the launch and some SAT surprises and so on.
And then there's many, many others like we on the 28th, we
already and we have some partner satellite events.
So excuse me if I forget some, but we'll have me premier
Bitcoin with a with an event previous to the conference.
We're going to have the Raspy Blitz guy with the with the guys
with another event. We're going to have a women's
branch. We're going to have the mega
pleb dinner that I'm just you're just scrolling by On Sunday
we're going to have the Atlas Music Festival on a very cool
park near the main venue. It's going to be headlined by
Theo Katzman. We're going to have a special
meet up on mini design Center, a very cool place in the port of
Rochelle. We're going to have the pitch
day, the so a start up slash VC day for presentation of new
Bitcoin companies. We're going to have the Welcome
to Bitcoin So a noob day before the conference starts.
One day before the conference starts on the 29th, just for for
newbies, 100% in Portuguese. Well, what?
More boat trips? Pleb walks?
You were going to have the half in the seaside run for running
aficionados. So many things that I'm probably
skipping a few. That's going to be awesome.
Yeah man, I'm, I'm just guys, definitely get your tickets to
Bitcoin Atlantis. Do the prices go up as time
progresses, Andre? Yes, next increase and final
increase is we didn't, we didn't do a do a lot just you know
quarterly. So the next one is on the 1st of
January by by, so buy your tickets this year still.
Yep, buy your tickets this year guys.
You could check out the link in the video description and use
promo code simply and that will get you a 10%.
By the way, Nico, be before we move.
On Atlanta simulated, Yeah. Andre, what?
What exactly is the response to Bitcoin in Madera?
Like? Is it known?
How? How do people look at Bitcoin
over there? Well, it's still like most
places. I would say the majority is
still very far away either they a lot of people still think it's
a scam of course, and a lot of people are involved involved in
shit coiner as well. You know the spirit, Cristiano
Ronaldo endorses shit coins. So it's it's hard.
We're starting from the bottom but we are, we are very, very
surprised not only for the community that already
established here in Mulatt, it's becoming quite big actually a
lot of businesses and families, some of them already here, some
on our way some already you know very interested.
We we've been getting messages every days and and I was very
surprised since we started the open the the merchants trying to
get merchants on board. When we confirmed the conference
and really wanted to push it. I was very surprised by how many
people just on board and Bitcoin without even blinking of an eye.
You know I was very surprised and we're growing the we're
growing numbers every day. We're being almost like Bitcoin
we're we're a full round of merchant adoption here in Madaha
now. So I think the perspectives are
very, very good. Love it, love it.
And I I think it just kind of goes what what your goal is with
the conference to onboard NOOBS and of course bring bitcoiners
to your lovely, lovely island. It's a it's a very it's a golden
opportunity to increase the education by 5 by tenfold.
You know people get a lot more curious.
We have big names it's going to put a lot of movement like but
that is not that big and the main city for shell is a medium
sized city so you can imagine 5000 bitcoiners in a week and
Don Don for shell is going to be completely crazy.
So of course it pushes the awareness and and one of our
goals, we have a Layer 1 ticket just for residents quite cheap,
So very cheap for locals to to for the curious locals to to
come to learn. And I think a lot of them will
be surprised because they're going to be very surprised that
they go to the conference and almost nobody's going to pick
speak about price. So it's going to be very
technical, very, you know, we're going to speak about energy,
about macroeconomics, about a lot of stuff.
And they'll be surprised and hopefully learn why become is so
different from everything else that they're being, you know,
slapped in the face every day. Yeah, I love it.
Love it. All right.
Well Nico, I think your audio is doing well, so.
Am I back? All right guys, before we get to
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All right, everybody, let's get to the news.
We got a lot to talk about today.
Let's check it out. The Daily News.
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Nika Updating my back? Yeah, opt in.
My back. My God, I don't know.
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All right everybody. So a crazy prediction by Adam
Back basically saying calling for $100,000 Bitcoin by the
having he made that famous bet with the Kingo.
But I think he was feeling extremely bullish because he
made another he made another prediction last night, basically
saying that by this having and and Samson Mao and him were
going back and forth, by this having, there's a possibility
that we might see $700,000 Bitcoin.
Why $700,000 Bitcoin? He is saying that Bitcoin might
flip the price of gold. Now something crazy is
happening. Look we're really not that far
off from the previous all time high about 50%.
It's according to this this trading view statistic.
This is going absolutely parabolic.
This is not at all what happened last cycle.
So things are just things are heating up and especially it's
it's not even the Bitcoin having yet And I think the reason for
all this and of course we're speculating there's no way to
know this for sure is for two reasons primarily.
Primarily the reason number one is the Bitcoin ETF.
A lot of people are getting excited because of the Bitcoin
ETF and because of the potential inflows coming into Bitcoin with
all this institutional money coming in.
That's reason #1 and reason #2, and I think the the the more
important reason in my opinion is that Michael Saylor is in the
green. His average price per bitcoins
around 30,000. And Naimbu Kelly this morning,
which is what we're going to talk about on tomorrow's
episode, tweeted out that El Salvador is now in the green as
well as the price of Bitcoin is at $40,000 per coin.
That's two massive deals on the public company level.
Michael Saylor has proven that Bitcoin is not only in a viable
alternative to holding Fiat, but is a better alternative.
And then on the country, on the nation state level, Naeem Bukele
is proving that Bitcoin again is not only a viable alternative to
Fiat currencies, but it it is a better alternative.
Clearly El Salvador's Bitcoin strategy is winning and that's
in complete contradiction to what the IMF predicted because
the IMF was hit El Salvador with all this legacy media propaganda
attacks using the corporate media saying this is going to be
terrible for your economy, your economy is going to collapse.
And then with Argentina, when the IMF gave Argentina another
bailout, one of the conditions was that the Argentine
government had to de incentivize the adoption of Bitcoin and
crypto, right? So the IMF, the predictions that
they made, they got it absolutely wrong.
Now it's undeniable that Nayeem Bukele with the Bitcoin law made
the right decision. And I think because they fix the
base layer of society, I think you see, you're seeing El
Salvador flourish. You're seeing El Salvador
improve. Maybe it's too early to tell,
but as a bitcoiner who has adopted a Bitcoin standard for
about 6-7 years now, I could tell you that it's completely
changed my life. It's improved.
My life could say the same thing about Opti.
I could say the same thing about everyone who's really adopted a
Bitcoin standard. Anyways, this is Adam Back.
This is his prediction. I think he was feeling bullish
last night with the price of Bitcoin flying.
He said digital gold. Bitcoin will surely flip
physical gold sooner or later, and probably this having cycle.
So within a year or two currently I would take 700,000,
seven, 700K Bitcoin. But it may be partially a
substitute. Some people start selling gold
to buy Bitcoin crossing the market cap below that, right.
And of course we always read you this on Clark Moody's dashboard
and we do it on purpose Bitcoin versus the gold market cap and
it's at 5.91%. So I think when we started
covering this, it was in the 3%. So it still has a while to
climb. But I mean, look, someone who
was, who was cited in the Satoshi in the Bitcoin white
paper making these types of bullish predictions, I mean,
something might be happening there and I'll get to why.
I think it starts to make a little bit more sense.
So here's Vijay Boyapati. He wrote the very, very, very
famous piece that went absolutely viral, that it was
eventually turned into a book. I think he might be speaking at
Bitcoin Atlantis, I think, which is the bullish case for Bitcoin.
And he says Bitcoin all time high before the halving.
For the first time ever, Adam Back responded with that's what
I've been saying. My bet is 100K Bitcoin before
the halving. So Adam Back is feeling bullish
to say the least. On the other side of things,
here is Opti's ex-girlfriend, Christine Lagarde, and here is a
tweet by the European Central Bank just to contrast both
things. International cooperation has
brought indisputable benefits, but mistrust has grown among
citizens, says optis ex-girlfriend Christine Lagarde.
To respond, policymakers need to focus on citizens, priorities
and lead with courage while being held accountable.
What about being held accountable for all of that
money printing? Why do they keep gaslighting us?
Why do they keep trying to shove CBD CS down our throats?
Right. So again, I think this is the
another definition of gaslighting.
Just gaslighting right up in your grill.
OK, so Adam Back is predicting these crazy things, right?
That's what I've been saying, 100K.
Boy, the halving and he's predicting 700K Bitcoin.
This having cycle. You guys know the deal and
simply Bitcoin. We don't really speculate but we
can make the case. So first we kind of have to go
back in time and see what happened last cycle.
And I think that this played a major role in why the last cycle
was played short. So if anyone who's looking on
the screen right now, here is the US dollar. the US dollar
price in April of 2021, and it was at it peaked at roughly 60
or or 58,000 U.S. dollars. And then it crashed last cycle.
At the same time of that crash, the Bitcoin hash rate crashed as
well. The Bitcoin hash rate crashed
because the majority of Bitcoin miners were located in mainland
China and the CCP made it illegal for you to mine Bitcoin
and mainland China. I believe this was a major
reason as to why Bitcoin did not hit 100K last cycle.
I think it was attacked on a nation state level and there's a
direct correlation between the price of Bitcoin and the crash
of the hash rate. As the hash rate recovered, you
know Bitcoin broke all time highs again.
But more importantly, it survived a nation state attack.
It decentralized the hash ray in the process and the hash ray is
literally going parabolic. It shows no signs of slowing
down. So all those people that are
bullish on the future of Bitcoin continue to invest a large sum
of money into the infrastructure that is required to mine
Bitcoin. So, I mean, that's a really,
really good sign. Also on another side, and I
think this plays into the narrative by Naimbu Kele and by
Michael Saylor, is that Bitcoin is just a superior asset.
It's not even at all time highs. But if you've been saving in
Bitcoin, the US dollar is actually 90% cheaper than it was
five years ago. The oil is 85% cheaper.
If you've been holding Bitcoin for five years, gold is 80 gold.
That's that's to you. Peter Schiff is 84% cheaper.
The S&P 500 is 84% cheaper. If you've been holding, if
you've been saving a Bitcoin for the last five years.
Even housing prices in the US, they've doubled since they
printed that record amount of money.
Still, housing prices, if you've been saving in Bitcoin, are
actually 77% cheaper than they were a couple of years ago.
OK, now here's the other component, which is Bitcoin
supply. This is the first time this has
really happened in Bitcoin's history.
Bitcoin supply in active for a year, So what happens right?
So 70% of Bitcoin supply doesn't move and at the same time you
have these massive institutions coming in announcing ETFs, you
have Naimbu Kale strategy being proven right on the nation state
level and you have Michael Saylor strategy being proven
right on the public company level.
You have the perfect storm of events and I think that is what
is causing this crazy crazy price to run up the way it's run
up. So.
So before the having right here is the rational route who has
done a great job covering this right.
And he has these, he has these graphics that point out right.
So usually what happens during the run UPS is a lot of people
sell their Bitcoin. You could see that, right.
So percent of supply last active for the last year, right.
And of course it kind of dumps on the run UPS.
You saw that last happen in 2017.
All this Bitcoin is being dumped but for the first time the
percent of supply 70%, it's reaching an all time high.
We've never been in this type of situation in Bitcoin's history,
70% of Bitcoin addresses of the Bitcoin has not moved in over a
year. People are huddling crazy
psychopaths, care about the propaganda, don't care about
whatever Christine Lagarde is saying, and they're holding
their Bitcoin and they don't wanna sell their Bitcoin, right?
So this perfect storm of events is converging to create this
very, very bullish environment. That I think, again, we don't
speculate on simply Bitcoin. We don't, we don't make price
predictions. We don't, we don't, we don't
like to say where the price is going or anything like that.
But you have Adam back who is literally calling for $700,000
Bitcoin. You have Samsung Mao who's
calling for $1,000,000 Bitcoin. I don't know if it's going to
get there, but those are crazy, crazy price predictions, bro.
Those are crazy, crazy numbers. And if you actually look at the
data, if you look at the information behind the scenes, I
mean is it really that crazy, right?
If if the if the total amount of Bitcoin that's being sold, the
cell pressure gets cut in half during the halving, 70% of
holders are not selling, the hash rate continues to go
parabolic. I mean is it not creating a
perfect storm? I think we're so jaded from the
last bull market US, you know, US class of 2016, class of 2017
bitcoiners that I think we we're a little bit nihilistic.
I think we have a little bit of PTSD.
So anyways, is the diminishing returns theory going to be
broken this cycle? My vote is that yes it will, it
will be broken this cycle. If it doesn't get broken this
cycle, you're looking at a $70,000 Bitcoin.
I don't know. Anyways, Andre, what are your
thoughts on this? Is Adam back being too bullish?
Well, you made a mistake by it's.
It's going to be 700 K Buy Bitcoin Atlantis, not the whole
thing. So no, just joking, man.
I don't know. Bitcoin is unpredictable.
It feels like it's it's it's going to break to the upside.
So if I had to vote, I would vote.
It's not going to be diminishing returns this time.
But you know, I've all bets are off.
You know what matters again is the long term and that I know
it's I I bet everything I have that's going to be way, way more
than it is today. So, you know, just calmly living
my life and working on it until it comes.
Yeah, yeah, I agree. I think long term, extremely
bullish. No one knows.
I think that's a really good point by Andre and I want to
emphasize that enough. No one knows what the price of
Bitcoin is going to do tomorrow. A year from now, everyone could
just kind of guess. I know that Mandrick, for
example, he made a very famous bet.
He made the bet that Bitcoin was going to break 40K by the end of
the year. Who's going to eat vegetables
for the rest of the year? And then Mandrick hit the nail
on the head. But as Mandrick pointed out, he
was like, I was totally guessing.
I made, you know, that was a total guess.
And I think that's essentially anyone who is drawing lines and
making price predictions. What you're really doing, maybe
you can make, maybe you can make the statement that you're We're
making educated guesses, but at the end of the day, no one knows
whether this is going to go up or down tomorrow.
But I do know. American Hotel also lost the bet
with the Peter McCormick, right? They said it would be 300 K but
there was the last bull cycle was very manipulated as well.
We all know now that FTX and others were playing around and
doing bullshit in the background selling Bitcoin that they didn't
have. And actually that's also in part
why I don't make any educated guess on on the Bitcoin price,
because I think those that stuff is not good.
It's not still going away for for sure and on on every there's
still a lot of bad stuff happening in the in the
background, a lot of manipulation that can also
happen with the FTFS and ETFs and all of that.
So there's a lot of bullshit to clear before the price really
runs up and and goes holistic in my.
View 100% Opti. What's your take on all this,
brother? Yeah, well first and foremost,
I'm glad you said that is all price speculation and no one
knows where the price is actually going.
All we really know is 21 million hard caps.
Censorship resistant money. We know that the Fiat world has
to continue to print money. As the meme goes, you know,
infinite Fiat dollars divided by 21 million.
It means number is going up. It's going up forever.
So this all just kind of culminates into what we've been
saying for a while. And you know, this year has been
one of those years where we've been following naive bukelly.
We've been following Michael Saylor.
And you know, maybe they aren't fully vindicated on a corporate
and a nation state level, but at least to us Bitcoiners, we know
that they're right and they will continue to be right.
And the more the price goes up, up, the more more people will
wake up to this being a viable solution.
And I tweeted this morning like Bitcoin being smaller than
corporations or countries, balance sheet right now just
shows how early we are in this game because Bitcoin is bigger
than any one company, any one country.
It's bigger than every one of us individuals out here.
But what we do know is that you cannot make more Bitcoin and
we're seeing that the world is is actively starting to drop
U.S. Treasuries which is currently
though you know the safest risk off asset in the world.
So we're seeing that everyone is looking for a solution, or
rather something to store their value.
Flight to quality. Up.
It's a flight to quality and we're seeing it happen in real
time. And you know, I know in 2020 we
didn't really see a blow off top.
And we also kind of had at the same time like that whole
GameStop thing happened and all those people were speculating in
Stonks. Well, you know, I just can't
wait till they all wake up to the realization that Bitcoin is
that real. Bet you know Bitcoin is that
real GameStop and it is the Occupy Wall Street.
It's the real Occupy Wall Street.
And so we're going to see that. I think this cycle, I've been
saying it all year, we're seeing a perfect storm for Bitcoin.
We're seeing that the flight to quality is happening.
We're seeing U.S. Treasuries, you know they're,
we're seeing people drop them. We're seeing BRIC nations start
to move away from the dollar. We're seeing inflation go higher
than ever. And I just remember when I got
in 2017, like everyone and their mother was talking about
Bitcoin, it was, it was really a drive by retail.
And now we're seeing that the biggest institution, asset
manager of the world are going to not only get bullish on
Bitcoin, but they're going to be educating everyone out there
about Bitcoin. Like, in my opinion, and I've
been saying this for a while and hence why I'm kind of trolling
Nico right now. It's like we got him.
I I don't know if this is the cycle that we see diminishing
returns end, but I do know there will be a point where Bitcoin
becomes the monetary asset. And once corporate treasuries go
fully into Bitcoin, once nation states go fully into Bitcoin,
once quote UN quote, the smart money drops treasuries U.S.
Treasuries and they start going into Bitcoin once Bitcoin starts
milking some of the real state, you know, store a value.
And then once we get that feedback loop of everyone
talking about Bitcoin and we see retail start to FOMO into
Bitcoin as the price goes up, like I think we are all totally
underestimating how high the price will go.
And it really all boils down to just Bitcoin fundamentals.
A hard capped currency, hard capped monetary asset that is
censorship resistant, that you truly control, that is private
property that no one can take from you.
Like I don't think we are bullish enough and I and I say
it all the time, like my fatal flaw is that I'm too bullish.
I get, I get overly bullish all the time and once the price
starts to pump, I I get even more stupidly bullish.
And you know, I remember 2017 or rather maybe it was 2020 when my
favorite bitcoiners, the O GS out there where you all get
caught up in the same thing like this is hyper bitcoinization.
It's happening. But we are in hyper
bitcoinization right now and it's a slow process.
You know, like this year I was thinking about it over the
weekend. You know, I I kind of have a
cold, I don't know if you guys can hear it.
I was kind of dying, you know, and and just like I, I unplugged
from Twitter and I wasn't feeling that good And then you
know Bitcoin, I I think it was either it's like my brother or
something. He texts me, he's like yo,
bitcoins over 40K. And I just kind of sat there and
was like wow, you know, Bitcoin. I think today it's like Bitcoin
has something like 150% returns this year.
But throughout the year it's been a slow grind.
Like you know, there was days when it was up, there was days
when it's down and we didn't really realize how good of
returns we got this year because it was just like in the
day-to-day grind. We're like Oh my God, here we
are, we're still in a bear market and I think we're going
to see this continue moving into the next year.
I don't know if we will see a huge price rise going into the
halving, you know, 100K by the halving.
I'm I'm kind of leaning I'm kind of betting against Adam back on
that point but but what do I know backs an OG and he's been
here for a while but my only thing and and it's kind of the
gradually then suddenly meme like we're going to gradually
start to see Bitcoin climb. It's going to do these little
climbs up and down. You know it's going to go up.
It's going to go down and then before we know it it's going to
be above all time high. It's going to finally get some
escape velocity and it's going to go absolutely nuclear.
And I'm just, I just keep thinking that once we finally
get that like blow off top scenario that it could be
sometimes when like it goes absolutely nuts again.
All we really need is some very convicted deep pockets that
never want to sell their Bitcoin.
And this is never going down like I think we are, you know,
we are human and we like to look at the past and we like to look
at patterns and there will be a point.
Maybe it's not this cycle, maybe it's next cycle where Bitcoin,
what's this? What's the meme?
You know, Bitcoin breaks all your models and it's just like
there's escape velocity. It goes up and it doesn't
necessarily follow the same like, OK, every four year cycle
it's going to go up and then it's going to come back and
correct. Maybe there's a time when it
just keeps going up and then eventually there's a correction.
But is it this time? Is it next time?
I don't know. All I know is that 21 million
hard cap censorship resistant money is where we're going.
We're not going to go to gold, digital money for Digital World.
And when you show the numbers of how many people are huddling
their Bitcoin and how many people understand what they're
holding, again, it's just a perfect storm.
Because what are you going to do?
You're going to sell your Bitcoin to get more Fiat?
Like that's absolutely stupid once you understand what you're
holding. It's not necessarily about the
Fiat games. Yes, the increase in purchasing
power is absolutely incredible. It feels great to know that your
life is getting cheaper, but but you're not going to go back to
dollars once you understand what is going on here.
And I really do think that this bear market, the groundwork for
Bitcoin. Only the education levels, the
the amount of interest we're going to get.
I think we are getting set up for something that is just it's
going to break the old patterns and people are going to
understand, wow, I need to hold on to this Bitcoin.
It's not about getting more dollars.
And I just saw that dumb money again.
I hate to reference GameStop twice in this, but I just saw
the movie Dumb Dumb Money, and it goes back to what US
bitcoiners say all the time. You know, what do we say?
Fix the money, fix the world. It's not about the gangs.
It's about the revolution. And I think there's more people
out there that understand that, yo, this system is completely
rigged. It is broken.
Or rather, it is working exactly as intended for the big guys and
US average everyday people, the little people.
The Coinbase ad did it perfectly.
Exactly. And the fact that they use that
just shows that the sentiment or the zeitgeist of the world right
now is people understand, yo, there is something fatally
broken here. There's something wrong with the
system and it's really it's kind of the joker meme, you know,
it's not it's not about the money.
It's about making a point. And I think more people have
that same feeling. They just don't understand that
Bitcoin is the solution. That Bitcoin is that asset that
literally will change the future of humanity.
And here we are on the front lines that we get an opportunity
to stack Bitcoin under all time high like it's hold on, wait
wait wait. I need to do this for you Nico.
It's fucking. Awesome.
Boom, boom. Oh, man.
All right, guys, this is, it's been great show.
We got 437 people watching live on YouTube.
We got 53 people watching live on Rumble, and we got our
Twitter family as well. Guys, thank you so much for
tuning in to another episode of Simply Bitcoin Live.
I will be getting on a plane tonight going to Las Vegas.
Opti's gonna be on a plane tomorrow, so I think it's gonna
be me and Sophie doing the show tomorrow morning from Vegas.
Should be a lot of fun from the Vegas hotel room.
We're gonna see how we figure that out.
I think we're gonna do it like we did in LA.
I wanna thank Andre for joining us.
Thank you Andre for joining us on the show, guys.
You can check the link in the video description.
It'll take you directly to the Bitcoin Atlantis website and you
can use promo code simply to get a discount on your tickets to
the Bitcoin Atlantis conference. All right everybody, we will see
you tomorrow for another episode of Simply Bitcoin Live.
Peace out, everybody.