It's. All going to zero against
Bitcoin. It's going up forever.
You're against Bitcoin, You're against freedom November.
The speed at which Bitcoin will be adopted globally will
accelerate by a decade. And if we can get two nations,
two nations in the world to be competing over Bitcoin and over
Bitcoin dominance, it will induce every nation on the
planet to compete in the Bitcoin space race.
And so if you want to see the price of Bitcoin sent to the
literal moon, what are we talking about here?
You're teasing again, David, what are we talking about here?
When you say moon, I, I, I'm saying I'm saying if you want to
see Bitcoin since the moon, what we need to do is have nation
state 1/2 a million dollars, 100,200 thousand, $1,000,000
plus. OK, there we go $1,000,000 plus
Bitcoin prices. We need nation states competing
over Bitcoin. And you know, you can't have
competition if you only have one person doing it.
So if we can if we can accelerate what's happening
here, we can accelerate hyper Bitcoin ization dramatically and
I think everyone yeah, we're gonna assume the Bitcoin live
the number one source for the peaceful Bitcoin revolution
cover breaking news culture magic warfare will be your guide
through the separation of money. Say ladies and gentlemen, sit
back, relax, enjoy the ride. Welcome to the most watched
daily Bitcoin only live show on YouTube Rumble NX.
You just heard a clip in the cold opening from David Bailey.
David Bailey's the CEO of BTC Inc, the owners of the Bitcoin
conference and Bitcoin Magazine. He just came on Simply Bitcoin
IRL yesterday. Highly suggest you guys watch
that entire episode. It was incredibly bullish.
But David was essentially talking about something that Max
has been talking about. And we're going to play you guys
a clip of Kaiser. He went on this pretty popular
show this last week or so, but essentially it's the global hash
wars like Kaiser likes to talk about it.
We want nation states competing for Bitcoin.
We want nation states competing for Bitcoin miners.
We want nation states competing for Bitcoin businesses.
Because when nation states compete, when jurisdictions
compete, you as the individual win because you get to decide
where is more favorable for you to set up shop.
So it's incredibly bullish. I do agree with David in the
sense that this year, this election year is quite
interesting, right? You have RFK and Trump on one
side and then you have the Biden Harris administration on the
other side. And unfortunately, I think the
last, you know, year or so have shown that Operation choke point
O the proposed Bitcoin mining ban.
Of course, Ross, I mean, Trump and RFK offering that they're
going to free Ross. You know, it's become this
situation where, you know, the 2024 election is an election
that will have consequences for the Bitcoin industry in the
United States. And that's essentially what what
what David Bailey was saying and part of the reason that they
brought Trump and RFK to the Bitcoin conference.
Now a little known fact, which is why I recommend watching the
entire episode. Yesterday, David Bailey revealed
that the seek, the reason that the Trump speech was delayed was
because there was supposed to be a fireside chat after the Trump
speech between Elon and Trump at the Bitcoin conference.
That didn't happen. But you know what did happen?
It happened yesterday, absolutely broke the Internet.
Some of the figures are saying that we had essentially over a
billion views. I was having a trouble.
I was having trouble getting into the spaces.
Apparently there was a DDoS attack, right?
There was. They were just flooding the
system. They didn't want people to tune
in, but the spaces still happened.
It was three hours long. And again, we're not a political
show. We're not going to focus on the
rhetoric. That's not what you guys tune
into simply Bitcoin about. The part that we are going to
focus on though is they talked about inflation.
One of the things that I've always told you guys on the show
is we want people to ask a very simple question and we're
getting very close. And that simple question is, why
do I, why am I being forced to be illegal tender laws to use
the money that loses purchasing power?
Question number one. And question #2 is why should
money have to lose purchasing power in order to function,
right? Those are the two questions.
The reason those two questions are so important is that they're
somewhat simple questions. And once people like embrace
that, because inflation right now, the way that it's talked
about, it's talked about like as if it's like Mother Nature, it's
a fact of life. That's just the way things are.
But that's not the way things are.
And one of the things that Elon said and Trump were talking
about was to get government spending under control because
that's what's going to control inflation.
That's true, but Bitcoiners are a step ahead.
Why are we a step ahead? Because it's not just about
identifying the problem and a short term fix.
Because let's say Trump or RFK or whatever wins the election
and they cut down government spending.
There could be another election, there could be another
government. They could spend a lot more
money. The solution to this is saving
and earning in the money of which the government can't,
can't debase in order to pay for their own expenses.
That inevitably becomes a forcing function over time.
It's like a check on government spending, but not from a like
I'm going to vote type of thing. It's I'm going to vote with my
wallet and I'm going to save and earn in Bitcoin type of vote.
And that I believe is the most effective vote you can make.
And believe me when I tell you guys this, we are very close to
that even being mentioned. We are on the cusp of that being
mentioned. And once that's out of the bag,
you can't put that back in the bag.
And there really isn't a good excuse in regards to government
spending because the fact is that it hurts everybody
tremendously, specifically the lower and middle classes that
don't have the means to save in assets there.
Therefore they save and earn in Fiat and they get destroyed by
the ravages of inflation. Bitcoin is for you.
Bitcoin will save your purchasing power.
Bitcoin is the solution to inflation.
That's just my humble opinion. Maybe I'm totally wrong here,
but maybe I've just spent way too much time in Bitcoin, but I
think we're very, very close and you want to bring up my Co host
Miss Fields and our guests for today, Raj Raj is with the speed
wallet. Well, gentlemen, I'm sure maybe
you didn't TuneIn, perhaps you didn't tune into the interview
yesterday. But Raj, what was your take on
that man? It's specifically not all the
other political rhetoric and stuff, but as it as it relates
to inflation being brought up in the discussion, I think you're
muted, Raj. Yeah, I think it was an
interesting discussion throughout.
They spoke all about the fiscal deficit and everything and
didn't mention Bitcoin. That is not what I expected.
I think they should have. I mean, it's the most obvious
solution like, you know, to, to hold, you know, overspending and
everything because, you know, we may have another four years of
Trump and let's say we have efficiency Commission and, you
know, we cut down on the regulation, bring the spending
down, But you know, we'll have another government would come
and then, you know, we we'll have the same, you know,
overspending and everything. So if you want to really solve
this for long term, we just, you know, have the Bitcoin and, and
go from there. And you said inflation,
inflation is a curse, But I would say, you know, deflation
is awesome. Like, you know, we need to make
that as a narrative. You know, price dropping,
deflation is really good. Like it it's, it's good for
consumer, it's good for everyone.
Yeah, it may be tough for businesses, but I think they
will they will add up to that. 100% it, it, it's, it's good for
everyone and, and people believe in that like you, you, I've
heard, I've heard people talk about it's like deflation is so
dangerous. It's like you mean by purchasing
power going up is dangerous. Like that's crazy.
That's crazy that they even frame it that way, you know?
Yeah. I mean, I think, I think we need
to set the narrative where we say that deflation is awesome,
it's good. I mean, just make that as a
position. And, you know, I think there is
no need to kind of, you know, focus a lot on maybe like
inflation and changing that narrative.
We just set our own story. Yeah.
Deflation, yeah, I think 100%. I think you had Jeff Booth on
the show, right? I think we and yeah, I think
he's written pretty good book on deflation and everything.
It was eye opener for me. Yeah, he he now in the way that
he talks about it is just, you know, it's he he obviously has
nailed this down to a science, you know, so Jeff knows what
he's talking about. Anyways, guys, there's about 590
of you guys watching live between YouTube Rumble and Axe.
If you guys are enjoying the show so far, make sure to smash
that like button Opti. What are we going to talk about
during the culture? Well, we got Raj here from Speed
wallet. So we're going to talk about,
you know, Bitcoin scaling Lightning and of course the
project they're working on over there at Speed Wallet, which is
I, I, I don't want to call it a relatively new Lightning wallet,
but it really just kind of hit the scene on, on my radar in the
last couple of weeks. So we're going to talk about all
things Lightning today and and how Raj and the Speed Wallet
team is working to improve the Lightning experience for every
single one of us. 100% I'm I'm really excited about it yeah,
you guys kind of came out of out of nowhere and you guys hit the
ground running really, really fast so really excited.
I love Bitcoin entrepreneurs. I love Bitcoin businesses, so
I'm really looking forward to hearing what you guys are
talking about guys stay tuned. We have a hell of a show for you
guys today, but before we get to it, I do want to give a very
special shout out to our lead sponsor.
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Lots to talk about the Bitcoin numbers.
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right everybody at the time of recording, the Bitcoin price is
$60,520. That's per dollar 1652 block
height 850 to 856,621 blocks to having 193,379 having estimate
March 26th 20 28 total lightning network capacity 4852 BTC
capacity value 293 million U.S. dollars Realize monetary
inflation 1.45% market capitalization 1.2 trillion
Bitcoin verse gold market cap 7.05% In the gram scheme of
things. We are just getting started
anyways as it relates to yesterday's spaces between Elon
and Trump. I do want to preface this with a
small quote from the Bitcoin president himself Naimbu Kelly
and this article is always stuck with me.
And in in this regard. He's referencing the people that
were against the the the Bitcoin law in El Salvador.
So, and he makes a really good point and it explains a lot of
the reasons as to why a lot of people were against the spaces
that were happening yesterday. So I'm just gonna read a little
bit of this. He goes on to say the most vocal
detractors, the ones who are afraid and pressuring us to
reverse our decision are the world's most powerful elites and
the people who work for benefit from them.
And I'm going to go back to go to the bottom.
And they're willing to fight, lie, smear, destroy, censor,
confiscate, print and do whatever it takes to maintain
and increase their control over the truth and everything and
everyone. And again, this isn't simply
Bitcoin saying this. This is the president of El
Salvador, Naimbu Kelly, writing an article for Bitcoin magazine.
All right, that being said, what was really interesting also is
that the European Union actually sent a letter to Elon Musk
basically telling that he shouldn't do the spaces, which
is kind of, it's very interesting, right?
You like European bureaucrats are sending letters to the the
the owner of Twitter, but most importantly, a presidential
candidate saying that they can't have that conversation that
that's really interesting. Now take a look at the legacy
media's response to the interview.
I'm going to just read some of these headlines.
Start from the top left. USA TODAY says Trump rambles,
slurs his way through Elon Musk interview.
It was an unmitigated disaster. Fox News says Kamala Harris
campaign criticizes Trump for self-serving up self self
obsessed rich guys after interview with Elon Musk
Newsweek says Trump Donald Trump's lisp during Elon Musk
interview raises questions, The Guardian says.
So Donald chatted with Elon and here's the future as they see
it. Losers win.
Incompetence rules. The New York Times says Must
Trump talk on X After glitches start a 2 hour ramble.
The Guardian again says the must Trump X interview a surprisingly
dull meeting of two planet sized egos.
Wired says Donald Trump and Elon Musk's ex conversation took
forever to start, then never ended.
The Independent says Trump repeats same old talking points
in Musk interview but lisp steals the show.
The Verge says the Elon slash Trump interview on X started
with an immediate tech disaster. The Hollywood Reporter says Elon
Musk got EU disinformation warning before rambling Donald
Trump interview on X Reuters said rambling Trump Musk
interview marred by tech issues. CNN Fact Check Trump made at
least 20 false claims in his conversation with Elon Musk.
So you guys get the point. The media wasn't exactly a fan
of the conversation that happened yesterday.
And also check this out. Here is a legacy media reporter
actually asking the White House if they're going to censor the
conversation. Check it out.
Elon Musk is slated to interview Donald Trump tomorrow tonight on
on X. I don't know if the president's
going to do it. Feel free to say if he is or
not. But I, I think that
misinformation on Twitter is not just a campaign issue.
It's a, you know, it's a America issue.
What role does the White House or the president have in sort of
stopping that or stopping the spread of that or sort of inter
intervening in that? Some of that was about campaign
misinformation, but you know, it's a wider thing, right?
Yeah, no. And you've heard us talk about
this many times from here about the responsibilities that social
media platforms have when it comes to misinformation,
disinformation. Don't have anything to read out
from here about specific ways that we're working on it, but we
believe that that they have the responsibility.
These are private companies. So we're also mindful of that
too. But look, it is, I think it, it
is incredibly important to to call that out as you're, you're
doing. I just don't have any specifics
on on what we've been doing internally.
So let me just kind of break this down for a SEC, right?
I read you the bit by Naimbu Kelly, right?
The most important tool is their control over the truth.
I read you this letter by the EU, you know, sending it to Elon
basically saying you can't have this.
You have the legacy media going on a full on assault on this
interview. And then you have here a legacy
media journalist asking, you know, the White House press
secretary like, you know, or what are you going to do to
censor this? Now, here's the thing.
Trump is a divisive figure for a lot of people.
I could say that, you know that that can be true.
But what could also be true is why they so afraid of people
listening and making their own decisions.
Why do they get to be arbiters of the truth?
I mean, I think Bouquet laid it out.
We're perfectly right. That to me, regardless of your
political views, is a terrifying world to be in where a
bureaucratic elite, a journalistic elite get to decide
what you can and what you can't listen to.
That's very scary. That's a very scary world world.
And the reason that we talk about this is you guys know how
we stand on the show. It's not left versus right.
It's not liberal versus conservative.
It's the party of green, the party of Fiat, central bank,
digital currencies, nihilism, poverty versus the party of
orange, the party of Bitcoin, opportunity, peace and
prosperity. That's the way that we see this.
This is the party of Green. This is the party of basically
saying you like, don't even bother listening to it.
We'll tell you it's horrible. It's terrible.
Like you might agree with that. Like I listened to that
interview. There's a part that I do agree
that, you know, Trump. There's some parts where I'm
like, I don't agree. Or, you know, maybe he just he
was long winded many times you could say, but at least I heard
it. And now I'm making a decision
about what I heard by myself. Right.
And I would much rather live in that world where individuals are
making decisions over their lives.
It's not journalists and it's not the government, especially
the government getting to dictate what is true and what is
not true. That's a very scary world to
live in. And the last thing that I want
to focus on, and the reason that I'm bringing this up today is
because they brought up inflation.
And remember, inflation is a really kind of like hot button
issue to some government politicians and to some people,
the way that they see inflation is they blame everything and
anything on inflation but government spending.
So the fact that this was brought up was very important.
And you want to kind of know a reason as to why they're getting
so many attacks other than a lot of the other political talking
points that we're not going to bring up on.
Simply, I bet you that a lot of it has to relate with the fact
of saying this choir part out loud, right?
Which is I'm going to quote it here.
Actually, I think I have the actual audio clips about a
minute and 14 seconds. So I'll play it for you guys.
You know, as you're saying, you know, a lot of people are
concerned about the economy, a lot of people concerned about
inflation. Inflation is effectively a tax
on people that, that, that save money.
And, and, and for people that are working day-to-day, it's,
it's just, it's just a form of taxation.
And if we can solve the government spending problem,
we'll solve the inflation problem, which means people will
have a better standard of living.
And that's a really big, the people that got hurt worse are
the people that did it the way they were taught to do it all
through their younger life and their young life and their whole
life. The people that saved money and
then they got no interest on their money and inflation
destroyed them. And frankly, they were almost
better off if they didn't do anything like that.
I mean, those people have been absolutely decimated.
And we're going to bring those people back and help those
people. We've got to get the prices
down. You know, when I look at bacon
costing 5, four or five times more than it did a few years
ago, when when you look at some of the food products and, and
grocery stores people go, they can't believe it.
They used to be able to buy a whole cart.
And today, you know, a lot of people just don't have the
money. They go in and they can't buy
anything. So good kind of, you know, goes
into the political rhetoric and whatever.
And it's like Trump good, you know, other party bad.
But the point is, is that it's being talked about.
Inflation is a problem. Now, here's where I think
Bitcoiners are ahead and where we have a responsibility.
And here's some original thought I had from last night.
I said the problem is trusting that government won't overspend.
Bitcoin fixes this because it requires no trust.
Bitcoin is the solution to inflation.
This is something that Raj was saying in the beginning of the
show. Like let's say we get Trump into
the office, Whoop Dee Doo, right?
There could be another administration.
You know what they're going to do?
Overspend. The the the solution isn't
fixed. It's kind of like a Band-Aid,
right? But again, it moves the Overton
window and it brings that discourse into the mainstream.
Now there's a whole lot of people that are now opening
their eyes and they're asking questions about inflation.
They're asking questions about like, yeah, things are getting
more expensive. That road is A1 Ray Road.
And at the very end, it leads to Bitcoin, right?
So our job as Bitcoiners is to accelerate that.
Don't get lost in the sauce with the whole left and right
Democrat Republican debate because that's a hot pile of
garbage. But focus on providing the
solution and the solution is Bitcoin and it helps everyone,
right? It doesn't matter where you
stand on the political aisle, Bitcoin is for you and Bitcoin
will make your life better. I love the way that Rajput
posted it. Let's make deflation popular.
Let's bring back deflation. Let's make deflation the thing
that people talk about because I think people are brainwashed in
a way. Like even Elon, like Elon is in
so intelligent. The guy lands his rockets, you
know, build self driving cars. His products are great.
I mean, depends on who you ask. I personally love his products,
but you know, even Elon's talking about like, oh, this
inflation thing get get it under control.
It's like they can't get it under control.
That's the whole point. They don't have if the
government has the ability to press the P button right to fund
whatever they would like, they're going to press that
button. That's something that Satoshi
innately knew. He even wrote about it in the
forums, right? This the only way to fix this is
the separation money and say the only way to fix this is by
opting out and saving and earning in the money that can't
be debased regardless of who's in office and who's in power.
But in terms of moving the Overton window, it was moved
tremendously. I'm more pro free speech.
There should be more open discussion.
There shouldn't be less of it. And it, it does alarm me a
little bit that there was so much pushback for this
discussion. It kind of reminds me of the
time of of when Tucker wanted to talk to Putin and they did so
many things in order to stop that interview.
And I was just thinking about it like, OK, maybe Putin's a bad
guy. He's a president of Russia.
You could say that he's an authoritarian.
You could say all of those things.
But like, what? How's the conversation going to
hurt anybody, Right? Like, that's the question that I
have. Anyways.
Raj, what are your thoughts on this?
It sounds like you heard the interview yesterday, but I
really just want to focus on the inflation because that's really
what that's really what's going to fix things is moving to a
Bitcoin standard. Yeah, definitely.
So I think Elon says that government overspending will or
not overspending will solve for the inflation.
I don't think so. It's it's one of the
contributing factors. But if you look at the M2 money
supply, it's function of not only government deficits, but
also like central bank setting the cost of the money sometimes
too loose, sometimes too tight. We go from booms and busts and
we have stimulus stimulus, we have bailouts.
All this leads to excessive like money printing and it is kind of
a all combined is kind of a root cause of inflation.
So he didn't bring that up. I don't know why, but I think
this I mean central bank just setting kind of, you know, cost
of the money, like just old people getting together in the
room and just having a feel for economy, some collecting some
data, which is usually like stale and kind of disconnected,
skewed in several ways to set the cost of the money is is
what's the root cause here. And with the Bitcoin we get, we
have predictability, right? We have, we know what would be,
I mean, the market would decide the cost of the money with the
economic monetary policy is it is transparent.
And yeah, I think Bitcoin is a proper solution.
Like you know, it's as you said, Nico on your tweet, right, No
trust required. You know what?
Implement Bitcoin and that's about it, yeah. 100% Opti,
what's your take on this, brother?
I mean, we were talking about it when the when the space was
happening according to the latest figures, right?
A billion people apparently have gotten, have listened to it,
have viewed it. So this got a tremendous amount
of reach. And I think the legacy media
attacking it, if anything, it backfired.
And, and, and again, I can't double this.
Look, I get Trump's divisive, you might not like him, but I
don't think, I think we're heading to dangerous territory
where people just say you can't listen to someone what they have
to say in their perspective. I think that's I don't wanna
kind of live in that world. I kind of want the individuals
to get to decide what they wanna listen to, what they don't wanna
listen to. I don't think that should be in
the hands of government. Opti, what's your take?
Yeah, obviously, I mean, we've talked about this constantly on
the show, but I think the biggest signal from yesterday
was the fact that there was a DDoS attack on this, this
conversation happening in the 1st place.
Like if you listen to the speech, I don't really think
that there was anything that was really too crazy upon the
speech. It was it.
And you could say it was rambling and, you know, maybe a
little stale because it was just like the same talking point
we've heard from Trump. If you've listened to anything
you said in the last year or so. So it wasn't anything new that
we heard in here. But the fact that they didn't
want to have this conversation, it is, I think the most telling
aspect of this is like, you know, I was trolling yesterday
on Twitter. It's like me sitting listening
to two billionaires have a casual conversation.
It's like a meme of me, you know, listening.
It would like it, my friends. And it's an ad.
And so it's just very interesting that they would try
to stop this conversation from happening.
And I think it really goes to show that they obviously, one,
do not want people to get that like humanized feeling coming
out of Trump. They want those sound bites
coming out of it. And again, like the, I think the
fact that Elon Musk was able to identify the the, the problem of
inflation and he was sounding like a Bitcoin.
And I think that's things that we said on the show all the
time, which is very interesting that he won't come out and be
like, OK, Bitcoin's a solution. Obviously that's not really his
Ave. or his lane here, but it is one of the defining
conversations right now. Everyone is getting poorer and
we're all looking for solutions. And most people think it's going
to be a political solution. Like most people think that if
they vote the right guy in office, then we're not going to
have inflation. And as Bitcoins, they're like,
no, like they're all Fiat. They're they're all, you know, a
uniparty at this point. And whoever gets in power is
probably going to print more money.
And none of this is going to help you.
All you need to do is literally start saving in Bitcoin And at
at this point find your own sources of information.
Because if they don't want to have this conversation happen in
the 1st place, I think that's the most telling aspect of this
whole thing where it's like that conversation wasn't nefarious.
It would like, nothing crazy was really said throughout that
conversation. It was just, it's like, OK, this
is where we are. Me and Nico were texting during
the the spaces and we were both just like, man, it's really a
historic moment when you can sit here and just have an
unprompted, unscripted conversation between a
presidential candidate and, you know, one of what, what people
would argue one of the most impressive entrepreneurs in the
world right now. So like, I think this is the new
age of the media that we're at. And This is why you're seeing
that media response where they're like trying to downplay
the historic moment that happened yesterday.
And I saw it was like 60 million yesterday.
That has saw the views around it was live.
There's a million plus live viewers watching and listening
throughout the whole, what was it, 2 hour speech or two hour
conversation? So like, it really goes to show
the power of social media, the power of peer-to-peer
communication in the 1st place. But yeah, it's, it's really
interesting the the backlash and the DDoS attack on, I would say
a very, you know, very elementary conversation.
The fact that they don't want this conversation to happen, I
think speaks volumes. Absolutely 100% by the way,
there's 1070 of you guys watching live between YouTube
Rumble and X. If you guys are enjoying the
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everybody let's get to the news lots to talk about today.
Let's check it out. Here we go.
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So let's talk about Kaiser Kaiser again, once again
breaking the Overton window. He went on Infowars and he's
been saying like very something very similar that what David
Bailey was saying in in the beginning.
Not to mention that everything is going to zero against
Bitcoin, which is incredibly obvious.
I mean, you guys know that we absolutely love this website
priced in Bitcoin because it just shows that what Kaiser is
saying is absolutely right. Everything price in Bitcoin just
keeps going down and life gets cheaper in let's make deflation
popular again, right? What Raj was saying, everything
gets cheaper if you price your life in Bitcoin, including
housing. Even with housing prices
doubling or whatever, they've only doubled if you've been
saving in Fiat, if you've been saving in Bitcoin.
No, no, no, no, they haven't been doubling.
They've gone down 84% in the last five years.
Can you imagine that? An 84% discount on real estate,
that's what. That's what Kaiser means about
everything going to zero against Bitcoin.
Anyways, let's play the clip of him on Infowars.
Let's check it out. Bitcoin, the economy?
What are you betting on? What Any other key points you
wish you would have added after you leave?
Well, every, everything goes to zero against Bitcoin.
And you know what do I mean by that?
I mean that in, in terms of purchasing power.
So your purchasing power of your dollar obviously is going to go
down versus Bitcoin, but your purchasing power in terms of
gold, property, fine art, your business, stocks, bonds,
everything, the purchasing power of everything relative to
Bitcoin is going to go down because it's only a $1.2
trillion asset in the world of $400 trillion worth of financial
assets, financialized assets. So and just like software ate
the world during the 70s and 80s and every company in the world
became essentially a software company.
You know, car companies are a software company, airlines are a
software company. All value will become priced in
Bitcoin. Everything will be priced in
Bitcoin, particularly energy. I would say the next big
prediction, I'll make a prediction here is that within
24 months, all the major global energy contracts will be priced
in Bitcoin, not dollars. And that will be the end of the
Fiat money world as we know it officially and the beginning of
the Bitcoin epoch. What comes after Bitcoin
standard? Well, it it what comes after it
is the demonetization of violence and the monetization of
love. Not to get too freaking over the
top crazy Alex, but I do really do liken it to like a Christ two
point O it's, it's a story about love where if you cannot steal
somebody's wealth through violence because Bitcoin is
unconfiscatable, you can only approach people within the
intention of Fair trade. And that demonetizes violence.
And the profound quality of this is what happened in El Salvador.
They made Bitcoin legal tender and within three months the
president put 70,000 gangsters in jail because Bitcoin makes
you think differently. You know, you don't change
Bitcoin. Bitcoin changes you.
And this is what the world has on the other side of this Fiat
money collapse. If we get there, if we survive
the next 24 months and the Fiat money collapse, we will wake up
as a global Bitcoin standard and a moment of Christ like
universal love. If we can get there, we got to
get through the next 24 months. We got to get Trump in office.
We have to defeat the global bankers.
I mean, holy shit, it's like Max Keiser dropping hot fire.
And yeah, 100% agree. Bitcoin changes your operating
system. It changes your whole
perspective on the world. When you're on a deflationary
mindset and things just get progressively cheaper.
Your perspective changes. When all of a sudden you feel
the power of taking self custody and you, you know for a fact
that your wealth is unconfiscatable, undebaseable.
Yeah, that gives you a lot of Peace of Mind.
You sleep better at night and all of a sudden your life gets
progressively better. You have more optimism.
You have more hope about the future.
And the vast majority of the world is still on this Fiat
nihilistic mindset. That is because they're living
on a Fiat standard. So I don't know if I'm on the
whole doom thing of the next 24 months.
That sounded a little crazy to me.
But, you know, Max has had a tendency to, you know, predict
things in the past very accurately.
So, you know, it's probably a good idea to get some Bitcoin
just in case it catches on. I mean, this guy has been
telling everybody about Bitcoin since it was like a dollar.
So maybe he sees something that we don't.
One last bit before I pass it on to Raj.
What he said about El Salvador was so true because something
that we've identified on simply, which is this idea that it's not
a coincidence that the first country that made Bitcoin legal
tender has the most popular present in the Americas.
I don't think that's a coincidence.
The reason I don't say that's a coincidence is because I know
what Bitcoin has done to me since I've transitioned to a
Bitcoin standard. It's my eighth year now.
Holy shit, it's been a long time and it's just like life just
gets like it just compounds. It just gets better and cheaper
and you're able to just live the life that you want to live.
If you don't spend your Bitcoin these days, what is it?
What is the stay humble stack stats?
Stay solvent and life gets progressively cheaper over time.
And I think Kaiser, what he did there, it wasn't as impactful as
Trump and Elon because they had a lot more reach.
But think about the audience, them hearing that for the first
time, right? Like the first reaction is this
guy's batshit crazy or holy cow, this guy's been telling the same
thing since Bitcoin was at a dollar.
Like I bet you there was some bitcoiners minted watching that
Alex, that Max Kaiser, Alex Jones special man, because just
in those two minutes like Opti that made that gave me chills,
bro. Like Max is operating in a
different dimension, I think. Anyways, Raj, what's your
perspective on all this? Yeah.
So I think, OK, I'm I'm here. OK.
So yeah, 24 months is pretty optimistic, but I if you
remember the Vijay Boyapati's big blog post about the growth,
like what will be the arc of growth for Bitcoin, right?
We start with the store of value, then we go to medium of
payments, then we go to unit of economics, right?
So everything kind of priced in Bitcoin.
So personally, I believe that, you know, we are, we have
already proven that it's a great store of value.
I think we last cycle we had Tesla and micro strategies, you
know using it as a treasury. Now we have the EDSI think
hundreds. I think the Wall Street is in
most of the funds have Bitcoin on their balance sheets now and
there'll be a lot. There are like lot more
corporations. I think just yesterday Marathon
announced a $50 million of Bitcoin.
So I think store of value is mostly proven at speed.
We want to focus on the medium of payment.
Like we want to solve for the medium of payment, get millions
of users who are actually using Bitcoin directly or indirectly.
And that's where we focus. And probably like once we have
medium of payment going, you know, obviously the next step
would be people will start denominating everything into as
in Bitcoin. Like, you know, people would
start selling and their services and products into Bitcoin and
then probably will have the have the contracts or energy
contracts probably, you know, written in Bitcoin.
I think that's how it should probably go.
One more thing that I'd like to add is, you know what, after
Bitcoin, So yeah, Bitcoin is low, but I think post Bitcoin
will have stability and peace. Like, you know, the things will
stabilize. We will have much better
economic calculations of how the future will be.
I think as SEF said, you know, when once the economic
calculations simplify, we will be able to undertake long term,
you know, projects which are almost impossible to do as of
today. You know, because the cost of
money can go from zero to all the way like 6% and maybe down
to 2% again within the span of five years.
That's completely impossible for any business to kind of plan
around, especially small medium businesses.
So, yeah, I mean, I think we will be out of this boom bust
cycle. We have stability and that would
that would bring the air of peace and I think a growth or
it'll be like a new renaissance. Yeah, new Renaissance.
I mean, who's coined that term? It's Renaissance 2.0.
I I feel like if yeah, it's Renaissance two point.
Oh yeah, Booth maybe. I don't know. 100% agree.
I think the world is going to see freedom the likes of which
it's never seen before. And I think a lot of the
problems that people just cannot see right now, like I think the
Elon and Trump thing yesterday is an example of that.
Like, they're like, they're they're like 10 years back.
Like, yeah, let's get government spending under control.
It's like, no, no, no, let's fix that problem completely forever,
right? And of course, Bitcoiners have
that solution anyways. Opti, what's your take before we
move on to the culture and talk about the speed wallet?
Yeah. So first and foremost, guys, I
highly recommend everyone go watch that whole clip because
Kaiser just keeps dropping the bombs about where we are right
now in the current financial landscape.
And of course, how Bitcoin fixes this.
It, it was a great speech. And you know, Kaiser does have a
way of maybe for lack of better terms, getting a little
hyperbolic. So maybe he did get a little
cosmic and super bullish. But we all know that this is
what's gonna happen eventually. What Kaiser said is going to
happen. And what we've been seeing in
the last couple of weeks is that this global hash war is playing
out in real time. As we played in the beginning
with the David Bailey clip, everyone is seeing something
very similar where now Bitcoin is becoming the defining
conversation. And as we played with Elon Musk
and Trump earlier, inflation is becoming pretty much most
Americans concerned right now is because it's getting extremely
hard for everyone to just survive on a normal paycheck.
And so we're seeing in real time that Bitcoin, at least in a very
maybe lesser degree, it's becoming like everyone's savior
right now. And like we say, you know, it's
no coincidence that Buchele from El Salvador literally
translating to the savior is doing so well is because they
obviously got on the Bitcoin standard and of course
everything else that Buchele has been doing.
But I think it does go to show that people are waking up to
Bitcoin as a solution. We're constantly saying, and we
do get a lot of Flack for it because you know, we came out
and say RFK Junior and Trump is who we are endorsing because
they're being pro Bitcoin. But there is no political
solution out of this. So as long as we get people
talking about these conversations is how we spread
this out to the mainstream audience and more people
realizing that Bitcoin isn't just this, you know, Internet
nerd money that you speculate on and get rich on.
But to one of the points that Kaiser said, and I've been
saying this for a while as well, and Kaiser's, I think his time
frame was like 18 to 24 months, which I don't know if that's
necessarily the time frame, but once everyone starts pricing
energy in SAT or in Bitcoin, that's really when Bitcoin is
going to take over the world because it's the the truest
measurement of value that we have in the world without all
the financial manipulation of the world.
And we're seeing right now that most people that understand
what's going on realize the fundamental problem that it's
the financial manipulators that are wrecking the world.
And the more games are able to get away with, the poorer we all
get. And that's the solution that
we're solving here. Like, you know, Raj was saying
like Bitcoin as a store of value.
I, I think it's proven itself. And if we continue to allow the
financial manipulators to manipulate the Fiat currency in
the traditional financial world, then there's literally no escape
from this unless you're opting into Bitcoin.
And that's what we constantly harp on this show is you need to
save in Bitcoin, take it into self custody.
That's the only way to get out of this and protect yourself.
100 percent, 100%, yeah, man. And it's really, it falls down
to us like to really get that message out there.
Like it's not just about electing a certain person, it's
literally about changing the system root and branch, like
everything from the top to the bottom.
And that's, you know, separation of money and state individuals
taking back their their financial sovereignty via self
custodying their Bitcoin. Anyways, guys, we're going to
talk about the speed wallet and what Raj is working on and
Bitcoin entrepreneurs building on Bitcoin, building on those
second and third layer solutions, helping it scale.
So really excited, stay tuned. Let's get to the culture.
The daily culture. Right everybody before we talk
to Raj, I do want to give a shout out to our sponsor.
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Scan the QR code or check the link in the video description.
Well, I'm really excited about today's show before I pass it on
to Opti Raj, you are with speed wallet.
So for anyone in the audience that doesn't know what speed
wallet is, could you give a quick one to two-minute elevator
pitch on what speed wallet is? Yeah, I don't think I'll need
more than a minute. So speed wallet is easiest to
use a Lightning wallet. It's not self custodial.
It's we, we custody the Bitcoin, but it's we it's it's our our
goal at speed wallet is to just make it super easy.
You just register it with your e-mail and go from there.
We want to make this into a spending wallet.
This is not your saving wallet. You should not save your
bitcoins on this. If you're going to spend the
Bitcoin, maybe let's say 100 dollars, $500 worth of Bitcoin,
you bring that over. And we just wanted to make it
super, super easy for anybody to quickly register load the
bitcoins. You, you stand on chain Bitcoin,
you, you have immediately immediate availability of those
bitcoins on the Lightning network.
You can just, you don't really have to do anything.
You can just start, start spending on Lightning.
So and let's say you have a Lightning bitcoins, you can just
take them out on chain or on the Lightning wallet, super easy.
You don't have to do anything. So a complete seamless
transition between on chain and Lightning from lightning to on
chain and like the most easy to use UI.
And that's what the speed wallet is.
We just wanted to make it super easy.
Yeah, I mean, that's what the speed wallet is.
It's very simple, straightforward implementation.
What's the difference between for example like wallet of
satoshi was very popular so like what would be the difference
between speed wallet and like wallet of satoshi?
Yeah. So wallet of Satoshi, I would
say the biggest difference would be the seamless transaction
transition between the on chain and lightning.
With wallet of Satoshi you will have to bring the light.
I mean, either you buy the Bitcoin and load it up in their
Lightning channel or you bring the Lightning BTC and use them
with the wallet of Satoshi. So you have to be on the
Lightning to kind of directly start using it with the speed
app. You know you have a Bitcoin on
chain and you want to quickly like transition to the
Lightning. You know you use your wallet,
just put your light, put your own chain bitcoins on the in the
speed wallet, scan it immediately.
They are available for you to spend on Lightning.
Gotcha. And questions from the audience
like what would be like, for example, you guys decided to add
USDT by the way, for anyone in the audience, if you live in the
developing world, Bitcoiners like it's like we want Bitcoin
to be this like, you know, used in everyday transactions, but
that's not what the market is saying it is.
Bitcoiners, we should be free market Maxis.
What the market is saying specifically in developing
countries is that stablecoins seem to be very, very popular
and that's something that can be potentially life saving for
someone who lives in Venezuela or Argentina, right?
So I, you know, and there's other wallets that have
integrated, you know, specifically Tether and other
stablecoins as well. So could you talk a little bit
about that? I just want to preface that
because I know we. Have some more core I, I, it
took me long time to kind of get over this I, I really didn't
want to touch any shit coins neither the stable coin.
But then you know, I come from the product management
background where we are told to listen to the users and like
everyone that I spoke to who were non bitcoiners, right?
They were like, OK, I mean, I will love Bitcoin, but it's too
volatile. We want if you, if you have a
significant amount, it will be great to have that in USVD.
It'll be awesome if we can have bitcoins immediately converted
into the USVD and then be able to spend that USVD into on on
like any of the crypto networks or any of the crip sites which
offer like, you know, for example, bit refill will will
allow them to buy the gift cards, right, be able to stand
over there. So I mean spoke with more than
about more than I would say 500 users and probably like 12
months back and like 99% of them were like, OK, you know, we, we
would if if given option for the USBD, we would like to saving
USDT. I mean, I think about other than
like non like Bitcoiners, you know, there, there is this huge
section of users who still do not appreciate like the
Bitcoiners. I mean as as a money as I would
say, I think most people do appreciate it as a store of
value. But when we want them to spend
and kind of retain they, they are like, OK, you know, it'd be
great if we could convert it into the USVD and just, you
know, may be able to spend and with the Taproot assets, right,
that just becomes very easy viable native to the Lightning
Network. So with the Taproot assets, it's
it's by Lightning Labs, we can we can actually, you know, just
use a regular lightning invoices.
They can be paid with a taproot asset like a stable coin or with
the Bitcoin and the receiver can decide whether they want to get
that in sets or they want to get that as a taproot assets, right.
So it gives a complete inter operate operatability like, you
know, you can pick and choose how you want to retain the
value. And we for last year, you know,
we were we were kind of focused on that.
We were working with Lightning Labs and trying to see if we can
if we can just have that available in our wallet.
So yeah, I mean, I think they just launched like a month back.
They launched, they completed the implementation.
It's like, it's still like the first cut And we decided to
launch USDT on Lightning Network.
It's available both in speed wallet as well as speed merchant
platform for businesses. So yeah, just give it a try.
It's pretty straightforward. You are actually inherently
still using Bitcoin. So the rails are still Bitcoin.
If USDT on Lightning Network becomes popular, the Lightning
Network capacity for BTC like BTC Lightning Network capacity
will just skyrocket. So it is kind of complementary.
I mean it will help adoption of Lightning Network.
It will then after you know be like a entry like drug to
getting into the Bitcoin, we'll be able to get millions of users
onto the Lightning Network. And I think that'll open for
like create, it's kind of a gate to creating more Bitcoiners
eventually and also it will increase the network capacity in
terms of Bitcoin. Absolutely Opti.
Yeah. I was just to say, Raj, again,
knowing who our audience is, I'd like to kind of elaborate.
We did kind of compare wallet or Satoshi to speed wallet.
But I'd like for you to talk about the the design choice in
the UX experience of going custodial and needing an e-mail.
Like why? Why did you choose that route
versus what your competitors are doing?
So can can you please repeat that once more?
Sorry, yeah. So for for I know you want to
make the easiest wallet possible and, and knowing our audience,
which is, you know, hardcore Max is out here.
What's the design choice of going fully custodial?
Yeah. So we had, so we were initially
trying to make a self custody wallet and there are two big
challenges with the self custody on the lighting network.
I mean it's pretty well known. Number one is channel
management, liquidity management and #2 is offline receive.
So with the channel management, any self custody wallet would
have to have a have user kind of become sophisticated enough to
do the channel liquidity management, which I don't think
you know, will allow us to bring millions of user onto the
Lightning Network and offline receive to.
I mean, those were the those are the two challenges.
We really do not have a good solution as of today.
I'm very optimistic. I think, you know, we will very,
very soon be able to solve it. And maybe at that time we could
kind of, you know, have another wallet within the speed itself
where, you know, you could immediately take the self
custody your hand and have your own mobile lightning node
working. But with those issues unsolved,
you know, the experience of self cost free wallet is not a well
and not good for like unsophisticated users.
We just wanted to, our goal is to bring like millions of people
on to the lighting network and so decided to take the list path
of resistance, which is just, you know, have a custodial node.
We do the complete channel management, liquidity
management, make sure that we have healthy channels available
across the Lightning network. 100% transaction success rate
was our goal. So we achieved that at speed.
Like we have like 99.999% transaction success rate.
So the experience is super smooth.
Like, you know, any transaction you make will just go through.
So that was the goal, you know, just make it make make a wallet
available for non surface. I think we have a lot of self
custodial wallets. We had a lot of them available.
I think new TV just pulled out. But I think back in 2022 when we
were evaluating there were about 5 to 6 pretty good like self
custodial like wallets in the market.
And I think a wallet of Satoshi was, and I think strike we're
the only ones kind of catered into the to the unsophisticated
users. And one of the challenges that
we found was, you know, this transition between the on chain
to lightning, lightning to on chain, which was, which was also
an issue we wanted to solve that we solved for that and we put
the wallet out. I mean, honestly, like we did
not really expect so much adoption to be.
I mean, we, we were like, OK, you know, we'll just put it out,
see and you know, anyone wants to use it, just one more option
available. Right now we're getting about
like 100,000 to 1500 downloads every day and we crossed like
100,000 wallet users in like last 4-5 months since it's
available on the app stores. Congratulations.
It's huge. And and I, I look like
personally, I'm and again, I know this is unpopular with some
part of our crowd. I, I was a huge fan of all of
Satoshi just because if I, if I ever wanted to introduce someone
to Bitcoin and the more amount of steps that they take and the
less interested they are. Like if it's just as simple as
you literally download an application and you're basically
extremely, in a very short amount of time, you're ready to
receive Bitcoin. It's a very, very powerful tool.
And then you just send someone, you know, like $1.10 dollars or
$100 worth of lightning and they just receive it instantaneously
And they just say that's it. And you're like, that's it.
That's, you know, like that is a good thing.
Ideally, of course, like you don't want to leave, you know, a
considerable amount of money in a lightning wallet.
It's, it's for the coffee, it's for the day-to-day spend.
So I personally am a convenience maxi.
I, I, I have the capability to, to set up a lightning whatever,
but I just haven't done it because it's just like, that's
not where I'm, I'm, you know, a couple $100 in the lightning
wallet, like, you know, it's not going to like, OK, it's like
losing a wallet with $100 in it, like, OK.
And if they rug pulled and they ruin the reputation that they
can only do that one time, right?
So, yeah, I personally, I'm a big fan of convenience for the
smaller payments and it just helps on board a lot of people.
Now my question to you, Raj, is, are you concerned at all about
the regulatory environment in the US because some of the
reasons that Phoenix and Wallet of Satoshi pulled out was
because of the regular regulatory uncertainty.
How are you guys approaching that?
Yes. So right now the direction from,
I mean, we, when the Samurai wallet, you know, issue kind of
came up, it's kind of, it kind of started all the, you know,
regulatory interference with the Lightning network Earlier.
We were probably all flying under the, you know, nobody
really bothered about what's going on the what was going on
the Lightning network. But with the, with the Bitcoin
wallets kind of, you know, coming under the, the view and I
think with that investigation, some of the language that came
out was very obscure. I mean, it's very difficult to
really ascertain if you need the money transmission license or
not. And usually like, you know, if
some, if it's not clear, you'll need the money transmission
license. So we are, we are actually
working on that. And for now, you know, we had to
put the know your customer requirements for North American.
Otherwise we would probably have to make the wallet unavailable
for North America. And we it is it's a trade off.
I mean, you either make the services available and comply
or, you know, just stop doing it and not comply.
So, I mean, we choose that, you know, we'll, it's a spending
wallet. You know, it's not we, we don't
want like people to save millions of dollar on that.
I mean, and honestly, like internally, we are actually
considering very, very soon you're going to put like the
hard limit on how much you can custody on our wallet.
Like maybe you will not be able to have more than $1000 worth of
Bitcoin. We are, we are actually
considering that. We'll definitely put the hard
limit on it. And we, we, I mean, we chose the
KYC route and maybe just, you know, do the compliance make,
but have the service available, make the Lightning available,
keep it available within, have the option available to the
users. But for the rest of the world,
you know, it's just available without any kind of KYC
requirements and anybody anywhere in the world can just
download the wallet, start using it.
We also have the web version available.
We have the Chrome plug in available.
We have lot of different versions available and we'll
make it available in all possible languages.
So, you know, like we'll not just remain limited to that
stores. We'll try to go as like, you
know, horizontal as possible and make this available in as many,
on as many platforms and as many different languages as possible.
But yeah, on North America, you know, I think the things are
very hazy. It's not very clear.
So yeah, to keep the lights on Will will have to comply.
Yeah, yeah. Oh, wait, wait, hold on.
Sorry. I was just going to add, you
know, very quickly. I know there, there's still
might be some people in the chat that are going to flood
lightning. So rapid fire response will
lightning scale Bitcoin? Yeah, yeah, 100%, yeah.
I mean it. It works.
It just works and it works really, really well.
We have small problems with self custody.
I think we should be able to solve it.
It's the engineering problem. But yeah, it like with this self
custody, it just works. You have used Lightning on the
cash app. It works really, really well.
Stripe what's really, really well wallet of shuttle See, I
mean and there are I mean, I look at the transaction volume
right now, it's just estimation like it's just mind blowing like
you know, every day we are like processing about 40-50 BTC worth
of payments right now, even though we are so new and so
small. I mean should be like
significant number for wallet of Satoshi and strike.
I mean, those guys must be there's there is a lot of
velocity and lightning network incredible and lot of like
literally hundreds and thousands of users are actually
downloading the wallet everyday and joining this network.
This is just going to get bigger and snowball into like much,
much bigger, like, you know, payment network.
So I'm extremely optimistic. You know, this is we can
definitely, I mean there will be challenges, there will be
engineering, you know, challenges, there might be
regulatory challenges, but once we kind of acquire a certain
level of, you know, size, it will become unstoppable.
Yeah, I agree. It's it's like you have to make
Bitcoin human friendly. Like that's the reality that
Bitcoiners don't understand. But it's something that like the
reason that the iPhone took off, right?
Like the whole general consensus was there's going to be a
computing revolution. That was right.
But what wasn't right was the whole keyboard and screen and
whatever the computer was human friendly.
And now everyone has a computer which is their smartphone,
right? So you just apply that same
logic to Bitcoin. How do you make Bitcoin human
friendly? The reality is that self custody
is not a human friendly exercise for the vast majority of people.
That's not to say that people shouldn't take self custody and
they should definitely learn and you should keep pushing that
message forward. But like you guys know the deal.
Like at least in my family, I'm the uncle Jim bro.
You know, I'm the tech support guy, right?
Any when it comes to Bitcoin stuff.
And I'm sure you guys have had very similar experiences, right?
When you have like convenience, like these types of convenience
onboarding apps into lightning, it creates a really pleasant
kind of user experience. And then of course, you know,
like it's like having, you know, if you have more than 600 or
$700 in your wallet, you know, you're going to look at that
wallet a little bit differently, right?
If you have $10,000 in your wallet, like you're going to
feel uncomfortable and be like, I don't need this much money in
my wallet. I'm going to leave some of this
whatever at home or something. So the point is, is that someone
said to come Nico, will the vast majority of people still win if
they don't take self gussy nihilistic field.
So I would say that I think that most people are just not, it's
going to be a very unpopular comment, but I'm going to say it
anyways. Most people are just not going
to transact on chain. I think on chain is going to
become prohibitively expensive in the next 10 years or so.
And most people are going to be interacting with Bitcoin on
second and third layer solutions.
And I think it's going to be a certain group of people that are
going to have the means and the technical know how in order to
operate Bitcoin on chain. Yeah, that's what I think is
going to happen. And it's just a matter of the
fees. Like the fees are just going to
look, Bitcoins going to go to a million.
Like the fees are going to go up, right.
If Bitcoin becomes a world reserve currency, that block
space is going to become very, very sought after, right?
To say the least. So, yeah, I, I, I don't think
scaling on the main chain is that was not a serious question.
Well, I answered it anyways, bro, I don't think scaling on on
chain is the way. I think, you know, second layer
solutions and third layer solutions are the way forward.
And we haven't quite cracked the code because it there has to be
a balance, right? There has to be a balance.
Unfortunately, we still have the, the Fiat, the party of Fiat
on our side and they have all the whole KYC in compliance and
they have the men's with they have the men with guns, right?
That's just the reality of the situation.
It's sucked to me. It blows my mind that North
Korea, China and USA are all on the same list as it regards to
certain Lightning wallets. Like that is not a good
situation for the United States. That's an embarrassment in my
opinion. And that is a complete drop ball
because all you're doing is you're forcing these companies
to go overseas and innovate over there.
That's all you're doing. You're not shutting it down.
So, yeah, I mean, it's, it's not so much, you know, like when I,
when I see a lot of these exchanges and, you know, these
applications, you know, implement KYC and then users get
upset. It's a you're getting upset at
the wrong people, bro. You should be getting upset at
the government officials and the regulators because they're the
ones that are forcing these companies and exchanges and
brokers to implement these things in their products.
Because if they don't implement it, they will literally be
locked in a box or they would be ran out of business.
So that's something to keep in mind with everybody.
It's just kind of like the reality of the regulatory
situation, which is why on our show we talk a lot about the
political environment here in the US.
You have the current administration that has been
pretty hostile towards the industry as a whole, the
Operation Choke .2 Point O denying Caitlin Long's federal
banking charter, the proposed 30% tax on Bitcoin miners.
And then you have two opposing candidates, RFK Junior and
Donald Trump, that have promised that they'll be pro industry if
they get into office. Like these are the types of
things where you don't like KYC, you don't like AML and you don't
like this, the regulatory environment in the United
States. Then elections matter to you.
Like they really do. Like there's, there's a
consequence to it. And that's something that I've
seen Bitcoiners clash with. Like they don't fully comprehend
that because we've been used to operating in the shadows since
really the beginning of Bitcoin's history.
They, they haven't really paid attention to us.
Now it's that we've grown in popularity and there's more
adoption, you start to get into the limelight and that's where
these types of things happen. So anyways, I'm a huge fan of
the Speed Wallet. I definitely think it's gonna do
great for Lightning adoption and just more the onboarding of
Bitcoin. And I do want to give a shout
out to Raj for joining us on the show today.
To check out the app, you go to Speed dot app and you can
download it. It's available in the App Store
on the Google Store and, you know, the smartphone of your
choice. And Raj, if you have any final
parting thoughts for our audience, what would it be?
Yeah, I will say that Bitcoin layer one take the self custody,
not your Bitcoin like not your keys, not your Bitcoin.
We have lots of good options available in terms of hardware
wallets. We have multi sig wallets now
you know I think self custody of layer one is super easy and it
is completely possible to do that even for unsophisticated
users. I think BT Sessions has done
like really great job making the tutorials for all the different
hardware wallets and different kind of the wallets available.
I think you know, we are at a point where the hardware wallets
are super easy to use, multi sig wallets are easy to use.
Self custody of the bitcoins for saving should be the norm.
And whether you are sophisticated or not, not so
sophisticated users don't leave bitcoins on the exchange, just
take it on your hardware wallets.
And so there will not be, you know, lending of your Bitcoin to
the and I think that does affect the price of the Bitcoin.
Like when they land out, they keep circulating the same
Bitcoin to several different buyers between several different
buyers and traders. It doesn't help.
So take the self custody when it comes to the Lightning.
You know, it is for spending. It's a medium of payment.
Don't bring in big amount, don't save it on the lightning metal
wallets. You know, it's for spending and
we'll we'll be kind of focused on that just making it super
easy to spend or use Bitcoin if you don't want.
I mean, I would still say that do not like spend your Bitcoin
in which case we have like a stable coin available which
which is what users want and you know, you can use that for the
spending. There are a lot of, I mean, we
grow the medium of payment network that's going to
complement the Bitcoin price and Bitcoin overall.
Once it becomes a norm to kind of, you know, use the Lightning
network, the next step would be unit of economics.
People will start denominating their products and services into
Bitcoin and then we'll have a proper Bitcoin bitcoinization.
Like, you know, we will have like hundreds and thousands of
business just selling the things for Bitcoin.
I think we really need that mindset where everything is
priced in Bitcoin and doesn't matter whatever the bit, you
know, U.S. dollar in it or any other shit coin prices against
like Fiat token price against it is people just like care only
about Bitcoin price of it. And at that point of time,
probably we will not even need the stable coin and we'll be the
first one to drop it off A. 100% Well, dude, thank you so much
for coming on on the show, Raj. It's great what you guys are
doing, spreading Bitcoin adoption, making it convenient
and easy for people to onboard and stuff.
So I really appreciate it guys. You can go to Speed dot app to
download the application today. This was your show for August
13th, 2024. I'm your host, Nico.
It's my host, my Co host Optimist Fields and our special
guest today, Raj from Speed Wallet.
All right everybody, love you all.
We'll see you tomorrow for brand new episode of Simply Bitcoin
Live. So it was brought to you by
bitcoinwell.com on a mission to enable independence.