1 00:00:20,960 --> 00:00:23,960 It's all going to zero against Bitcoin. 2 00:00:24,600 --> 00:00:34,480 It's going up forever. You're against Bitcoin. 3 00:00:34,480 --> 00:00:39,440 You're against freedom. Good morning everybody. 4 00:00:39,440 --> 00:00:41,840 We are back. It is Wednesday, November 29th. 5 00:00:41,840 --> 00:00:45,960 We got another episode of Simply Bitcoin and I would say some 6 00:00:45,960 --> 00:00:48,760 crazy news is happening. Some huge news just dropped 7 00:00:48,760 --> 00:00:51,000 yesterday. You know, so many people think 8 00:00:51,280 --> 00:00:54,040 and seem to believe that there is nothing being built in 9 00:00:54,040 --> 00:00:56,400 Bitcoin, that there's no advancements to Bitcoin. 10 00:00:56,760 --> 00:01:00,120 But I would argue that this bear market has been an incredible 11 00:01:00,120 --> 00:01:03,560 time for bitcoiners. Building and Bitcoin mining is 12 00:01:03,560 --> 00:01:06,960 one of, I would say, maybe the more mundane topics to be 13 00:01:06,960 --> 00:01:08,920 talking about. Even even though I would say 14 00:01:08,920 --> 00:01:11,800 it's like the most important topic, one of the most important 15 00:01:11,800 --> 00:01:15,680 topics. And it's so few people like to 16 00:01:15,880 --> 00:01:18,880 devour content on mining because maybe it seems over their head, 17 00:01:19,240 --> 00:01:22,440 but we'll do our best to make sure you understand the 18 00:01:22,440 --> 00:01:25,360 importance of what's happening and what is going on. 19 00:01:25,360 --> 00:01:28,160 So just to get the news out of the way, you know Jack Dorsey 20 00:01:28,160 --> 00:01:32,320 invests $6.2 million into a company called Ocean. 21 00:01:32,320 --> 00:01:35,160 To further quote UN quote decentralized Bitcoin mining. 22 00:01:35,520 --> 00:01:39,920 Ocean is being led by a long time OG bitcoiner in my opinion. 23 00:01:39,920 --> 00:01:43,760 Luke Dash Junior who set out and of Bitcoin mechanic who set out 24 00:01:43,760 --> 00:01:46,760 to fix what's wrong with Bitcoin mining in the short term as well 25 00:01:46,760 --> 00:01:49,320 as laying out some long term goals. 26 00:01:49,320 --> 00:01:51,720 Plus we didn't cover it last week. 27 00:01:51,720 --> 00:01:53,720 I believe it was last week, maybe the beginning of this 28 00:01:53,720 --> 00:01:54,920 week. Who knows, in any more in 29 00:01:54,920 --> 00:02:01,200 Bitcoin Time Demands announced that they will be dropping a new 30 00:02:01,200 --> 00:02:04,920 pool that will be using Stratum V2, which allows for greater 31 00:02:04,920 --> 00:02:07,960 flexibility for individual miners to pick what gets into a 32 00:02:07,960 --> 00:02:10,919 block. So TLDR guys, this is good for 33 00:02:10,919 --> 00:02:14,200 Bitcoin mining and very exciting moving forward for Bitcoin 34 00:02:14,200 --> 00:02:19,000 decentralization at large. And there's always so much fudge 35 00:02:19,000 --> 00:02:22,480 surrounding Bitcoin mining that it's very good to sometimes 36 00:02:22,640 --> 00:02:27,600 destroy that FUD. Now we got two new pools helping 37 00:02:27,680 --> 00:02:30,880 to decentralize Bitcoin mining. You just love to see it, love, 38 00:02:30,880 --> 00:02:33,400 love to be a part of this. I really do believe this bear 39 00:02:33,400 --> 00:02:37,320 market has been one of the most bullish bear markets that I've 40 00:02:37,320 --> 00:02:39,920 been a part of. I haven't been to the first one, 41 00:02:39,920 --> 00:02:43,080 but it's looking like we are seeing a perfect storm. 42 00:02:43,080 --> 00:02:45,640 Also guys, in the numbers, I will be covering some updates 43 00:02:45,640 --> 00:02:48,680 about the Bitcoin ETFs. They haven't been approved, you 44 00:02:48,680 --> 00:02:51,960 know, just breaking the ice, but we're one step closer to them 45 00:02:51,960 --> 00:02:55,560 being approved. And again guys, the bull run is 46 00:02:55,560 --> 00:02:57,560 heating up. It's getting interesting out 47 00:02:57,560 --> 00:02:58,640 there. The price is getting a little 48 00:02:58,640 --> 00:03:02,240 frothy. Just love to see it, love to be 49 00:03:02,240 --> 00:03:04,800 a part of this. And of course, of course, of 50 00:03:04,800 --> 00:03:07,160 course I am not alone. We have Sophie in the building. 51 00:03:07,200 --> 00:03:11,960 As you guys can tell, Nico is still was or actually was at the 52 00:03:12,240 --> 00:03:15,080 Bitcoin mining future of Bitcoin mining conference at this news 53 00:03:15,080 --> 00:03:18,400 got dropped. He is still, I think either just 54 00:03:18,400 --> 00:03:20,920 getting home or just getting off the airplane. 55 00:03:21,200 --> 00:03:24,000 So we'll handle the show until tomorrow. 56 00:03:24,280 --> 00:03:25,800 But Soph, how you doing this morning? 57 00:03:26,600 --> 00:03:29,000 I'm doing well. Thank you guys for having me. 58 00:03:29,000 --> 00:03:32,400 This is 3 days in a row in Nico's life. 59 00:03:32,800 --> 00:03:36,080 Let's go. I love this, so I'm really happy 60 00:03:36,080 --> 00:03:37,480 to be here. I'm excited. 61 00:03:37,480 --> 00:03:41,600 Yeah, it's the the, the dog in the burning house. 62 00:03:41,600 --> 00:03:43,160 This is fine. This is fine. 63 00:03:43,160 --> 00:03:47,640 Meme. All right, guys, The the the 64 00:03:47,640 --> 00:03:49,120 chat. You You guys are the goats. 65 00:03:49,120 --> 00:03:50,040 Love you guys. All right. 66 00:03:50,240 --> 00:03:53,400 Anyways, we're not alone. We do have a very cool guest 67 00:03:53,400 --> 00:03:55,160 today. Shouts out to Daniel. 68 00:03:55,640 --> 00:03:57,240 He is. I don't. 69 00:03:57,240 --> 00:04:01,160 Maybe Sophie's better at explaining this considering that 70 00:04:01,160 --> 00:04:05,240 she is in Miami. But a bitcoiner, part of a 71 00:04:05,240 --> 00:04:09,640 Bitcoin Miami scene also goes to the Bitcoin dev Some actually. 72 00:04:09,640 --> 00:04:11,200 Maybe. Daniel, introduce yourself. 73 00:04:11,640 --> 00:04:15,600 Who are I'm Daniel. Yeah, I I work for Bitcoin, 74 00:04:16,279 --> 00:04:17,200 right? Don't we all? 75 00:04:19,160 --> 00:04:23,120 And yeah, I'm originally from New York, but I permanently 76 00:04:23,120 --> 00:04:27,160 moved to Miami three years ago. And this, you know, the Bitcoin 77 00:04:27,160 --> 00:04:29,080 Miami scene is just great and growing. 78 00:04:29,720 --> 00:04:34,080 Although I'm actually coming in from Buenos Aires right now You 79 00:04:34,080 --> 00:04:36,200 know I'm not going to endorse any political candidates but I 80 00:04:36,200 --> 00:04:43,120 am growing out my sideburns let's go yeah was was asking you 81 00:04:43,120 --> 00:04:46,160 why you're down there and and in true Bitcoin fashion you're like 82 00:04:46,160 --> 00:04:50,400 I did not want to trust I am verifying and you know also one 83 00:04:50,400 --> 00:04:54,480 of my friends wine he is also a nomadic bitcoiner and he always 84 00:04:54,480 --> 00:04:57,440 tells me he's like you guys got to get out of the US So Daniel 85 00:04:57,440 --> 00:05:01,920 is living proof of don't trust verify and maybe nomadic 86 00:05:01,920 --> 00:05:07,560 bitcoining is the way. Yeah, I mean there's. 87 00:05:08,800 --> 00:05:10,480 Different people want different things, right? 88 00:05:10,480 --> 00:05:13,320 So for some people, staying in one place and really building up 89 00:05:13,320 --> 00:05:15,560 the local community is is important to them. 90 00:05:16,840 --> 00:05:19,680 And you know, for other people they want to travel and see the 91 00:05:19,680 --> 00:05:21,480 world. And some people just really do 92 00:05:21,480 --> 00:05:24,680 like to wander. Sometimes, you know the most 93 00:05:24,680 --> 00:05:26,760 interesting place in the world moves. 94 00:05:27,800 --> 00:05:29,400 Love it, love it. All right, guys. 95 00:05:29,400 --> 00:05:33,840 Well, we got a packed show for you today, so let's just get 96 00:05:33,840 --> 00:05:41,080 right into it. The Bitcoin numbers. 97 00:05:41,440 --> 00:05:44,360 Is your Bitcoin in cold storage really secure? 98 00:05:44,480 --> 00:05:47,000 Is your seed phrase really secure? 99 00:05:47,120 --> 00:05:48,680 Stamp seeds? Do it yourself. 100 00:05:48,680 --> 00:05:52,440 Kit has everything you need to hammer your seed words into 101 00:05:52,440 --> 00:05:56,680 commercial grade titanium plates instead of just writing them on 102 00:05:56,680 --> 00:05:59,480 paper. Don't store your generational 103 00:05:59,480 --> 00:06:02,760 wealth on paper. Papers prone to water damage. 104 00:06:02,760 --> 00:06:04,720 Fire damage. You want to put your 105 00:06:04,720 --> 00:06:07,840 generational wealth on one of the strongest metals on planet 106 00:06:07,840 --> 00:06:10,680 earth, Titanium. Your words are actually stamped 107 00:06:10,680 --> 00:06:14,240 into this metal plate with this hammer and these letter stamps. 108 00:06:14,280 --> 00:06:16,800 And once your words are in, they aren't going anywhere. 109 00:06:16,880 --> 00:06:20,520 No risk of the plate breaking apart and pieces falling 110 00:06:20,520 --> 00:06:22,960 everywhere. Titanium stamp seeds will 111 00:06:22,960 --> 00:06:25,920 survive nearly triple the heat produced by a house fire. 112 00:06:25,920 --> 00:06:29,080 They're also crush proof, waterproof, non corrosive, and 113 00:06:29,080 --> 00:06:31,000 time proof. All things that paper is. 114 00:06:31,120 --> 00:06:34,560 Not allowing you to huddle your Bitcoin with Peace of Mind for 115 00:06:34,600 --> 00:06:38,040 the long haul. Stamp your seed on stamp seed. 116 00:06:38,800 --> 00:06:40,560 Of course, Guys, we made it easy for you. 117 00:06:40,560 --> 00:06:43,960 Scan the QR code. Don't leave your seed phrase on 118 00:06:43,960 --> 00:06:46,000 a piece of paper in your soft drawer like everyone else. 119 00:06:46,160 --> 00:06:50,400 Make sure it's indestructible. All right, guys, Of course we 120 00:06:50,400 --> 00:06:52,520 are here. Clark Moody's dashboard. 121 00:06:52,520 --> 00:06:56,160 Let's look at some numbers. In my opinion, probably the most 122 00:06:56,160 --> 00:06:59,600 important number is the block height and we are currently at a 123 00:06:59,640 --> 00:07:05,000 block height of 819,000 and 20, I repeat 819020. 124 00:07:05,160 --> 00:07:10,640 The current Bitcoin price is 37,705 and that means the Moscow 125 00:07:10,640 --> 00:07:15,720 time, AKA how much Bitcoin you can buy for a single dollar is 126 00:07:15,720 --> 00:07:19,040 currently at 2652 sets per dollar. 127 00:07:19,040 --> 00:07:21,600 The total percentage of Bitcoin that will ever be issued is 128 00:07:21,600 --> 00:07:25,280 93.12%. The market cap of Bitcoin and 129 00:07:25,280 --> 00:07:29,120 Fiat terms is 737.4 billion are getting closer to that $1 130 00:07:29,120 --> 00:07:32,200 trillion market cap. The realized monetary inflation 131 00:07:32,360 --> 00:07:35,200 taking Fiat currencies to school is 1.75%. 132 00:07:35,640 --> 00:07:39,000 The Bitcoin Brit's gold market cap is 5.39%. 133 00:07:39,000 --> 00:07:43,040 So much room to run in the hard money gang and you guys are 134 00:07:43,040 --> 00:07:44,760 still bearish out there. Couldn't be me, you guys are 135 00:07:44,760 --> 00:07:47,200 still waiting for 33 K like what's going on. 136 00:07:47,200 --> 00:07:52,320 Anyways, the total public lightning capacity is 5330.8 137 00:07:52,320 --> 00:07:56,320 BTC, the hash rate going absolutely nuclear the last 90 138 00:07:56,320 --> 00:08:00,160 days, 441.1 XA hashes and the pending fees. 139 00:08:00,160 --> 00:08:01,800 Guys, we've been covering this all week. 140 00:08:01,920 --> 00:08:05,400 It seems to have cleared out a little bit, currently at least 141 00:08:05,400 --> 00:08:07,040 two. The man pool that Clark Moody is 142 00:08:07,040 --> 00:08:13,560 connected to is 8.98 BTC. The blocks to halving is 20,980 143 00:08:13,560 --> 00:08:17,160 blocks until the halving and we are still estimate to not make 144 00:08:17,560 --> 00:08:22,640 the meme date allegedly right now April 19th, 2024. 145 00:08:22,800 --> 00:08:24,600 All right guys, so no video today. 146 00:08:24,840 --> 00:08:28,200 I kind of want to do a little recap and I know ETFs all the 147 00:08:28,200 --> 00:08:31,520 rage right now and everyone's like, oh macro, macro, macro. 148 00:08:31,800 --> 00:08:35,440 But this is where we are. And and I did bring up a really 149 00:08:35,440 --> 00:08:38,280 solid tweet by Dylan Leclair and it's something that I kind of 150 00:08:38,280 --> 00:08:41,799 point out all the time, you know, as a Bitcoiner, I always 151 00:08:41,799 --> 00:08:45,320 suggest that you should just buy Bitcoin directly, take Bitcoin 152 00:08:45,320 --> 00:08:48,920 into self custody. But we will emphasize the 153 00:08:48,920 --> 00:08:52,980 importance of the ETF or well, rather the legitimacy, quote UN 154 00:08:52,980 --> 00:08:55,760 quote legitimacy that this will bring to the Bitcoin market. 155 00:08:56,000 --> 00:08:59,520 But anyways, before we get into that, we got James Seifart here 156 00:08:59,520 --> 00:09:04,000 and he is a Bloomberg analyst. He's been covering the ETF news 157 00:09:04,000 --> 00:09:07,680 constantly. Seems like he is waiting for 158 00:09:07,680 --> 00:09:11,240 this to happen as well. Anyways, we got a tweet here and 159 00:09:11,240 --> 00:09:13,320 this one's by Phoenix Trades and it just goes. 160 00:09:13,320 --> 00:09:15,960 SEC delays Franklin spot Bitcoin ETF. 161 00:09:16,240 --> 00:09:21,160 And then to further add some signal to this update, Wow, SEC 162 00:09:21,160 --> 00:09:23,880 went super early on Franklin. They weren't due for another 163 00:09:23,880 --> 00:09:25,840 decision until January the first. 164 00:09:26,040 --> 00:09:29,120 Notably, Franklin is the only issuer who didn't submit an 165 00:09:29,120 --> 00:09:32,680 updated S1 yet. Wonder if that has any impact 166 00:09:32,680 --> 00:09:34,320 here. Any further goes down. 167 00:09:34,320 --> 00:09:37,560 He's going super early, early on Franklin today and potentially 168 00:09:37,720 --> 00:09:41,080 hashtags coming to would set things up for a full wave of 169 00:09:41,080 --> 00:09:44,240 approvals in early January might be the reasoning. 170 00:09:44,440 --> 00:09:46,520 And then he double s down on this and he goes okay. 171 00:09:46,720 --> 00:09:49,880 This delay on hashtag all but confirms for me that this was 172 00:09:49,880 --> 00:09:52,680 likely a move to line every applicant up for potential 173 00:09:52,680 --> 00:09:55,960 approval by January 10th, 2024 deadline. 174 00:09:56,200 --> 00:09:58,840 Again he updated it Couple hours later and he goes. 175 00:09:58,840 --> 00:10:02,160 Franklin has submitted an updated prospectus for the Spot 176 00:10:02,160 --> 00:10:04,560 Bitcoin ETF. Earlier today I said that 177 00:10:04,560 --> 00:10:07,840 Franklin was the only filer that had not yet submitted and 178 00:10:07,840 --> 00:10:10,560 amended S1. It just dropped a minute ago. 179 00:10:10,840 --> 00:10:15,120 And then continuing on this we got Eric Balkanis I believe 180 00:10:15,120 --> 00:10:18,560 another analysis for Bloomberg and he goes, people asking me if 181 00:10:18,560 --> 00:10:21,120 we changed odds. No, we are still holding line at 182 00:10:21,120 --> 00:10:25,040 90% odds of approval by January 10th, AKA this cycle. 183 00:10:25,240 --> 00:10:28,800 The same odds we've had for months before it was cool, safe 184 00:10:29,120 --> 00:10:32,640 what we are watching for now, more amended final filings to 185 00:10:32,640 --> 00:10:35,920 roll in and clarity on in kind versus cache create. 186 00:10:35,920 --> 00:10:39,480 So it looks like we probably won't be seeing, you know, an 187 00:10:39,480 --> 00:10:44,120 ETF in 2023, but if we see in the early weeks of 2024, we can 188 00:10:44,120 --> 00:10:46,760 pretty much say that it was filed, you know, in this cycle. 189 00:10:46,760 --> 00:10:50,080 And again getting some more, some more signal here from Joe 190 00:10:50,080 --> 00:10:52,920 Caller, sorry, he goes, I've gotten about 15 emails about why 191 00:10:52,920 --> 00:10:55,920 I think January is the earliest date for approval of the spot 192 00:10:55,920 --> 00:10:59,240 ETF and it's because some of the comment periods don't end until 193 00:10:59,240 --> 00:11:01,640 January 2nd. It simply wouldn't make sense 194 00:11:01,640 --> 00:11:04,920 for SEC to approve something while they're still soliciting 195 00:11:04,920 --> 00:11:07,320 public comment. And you guys can see up here 196 00:11:07,320 --> 00:11:09,040 some of the dates. We've been covering these dates 197 00:11:09,040 --> 00:11:11,440 for you guys, the next date was January 1st. 198 00:11:12,080 --> 00:11:14,640 It looks like they denied that spot ETF. 199 00:11:14,640 --> 00:11:17,680 So we'll see what happens in the first weeks of January. 200 00:11:17,680 --> 00:11:23,040 But it's looking like we may get an approval very early in 2024, 201 00:11:23,280 --> 00:11:27,680 which would most likely set up for a very, very great 2024 in 202 00:11:27,680 --> 00:11:30,120 regards to Bitcoin. But of course, everyone in the 203 00:11:30,120 --> 00:11:31,400 chat's probably trolling me right now. 204 00:11:31,400 --> 00:11:34,520 It's like, oh, he's talking about the ETF again and it's all 205 00:11:34,520 --> 00:11:37,840 macro, macro, macro. And I've been saying for a while 206 00:11:37,840 --> 00:11:42,480 on the show, look, I don't and I won't hold an ETF. 207 00:11:42,480 --> 00:11:45,200 I don't recommend an ETF. I think people should be holding 208 00:11:45,200 --> 00:11:48,600 spot Bitcoin directly. Of course, taking Bitcoin into 209 00:11:48,600 --> 00:11:50,560 custody. This is the revolution. 210 00:11:50,720 --> 00:11:54,080 But Dylan Leclair did a great write up and and he's a lot more 211 00:11:54,080 --> 00:11:57,640 eloquent than I am on the show. So I'm going to use his words 212 00:11:57,640 --> 00:12:00,960 and it really just goes to show why I think the ETF is so 213 00:12:00,960 --> 00:12:03,000 important going forward. So here we go. 214 00:12:03,000 --> 00:12:04,760 I'm not going to read the whole tweet but you guys can find it 215 00:12:04,760 --> 00:12:06,960 on his Twitter. He goes talk of ETF approval 216 00:12:06,960 --> 00:12:10,160 misses the forest for the trees. It's not just about immediate 217 00:12:10,160 --> 00:12:13,800 reactions or flows, It's about the recognition of BTC as an 218 00:12:13,800 --> 00:12:16,600 institutional asset. Pensions, endowments, insurance, 219 00:12:16,600 --> 00:12:20,160 investment portfolios etcetera will soon be entering the arena 220 00:12:20,160 --> 00:12:23,520 with passive buy side flows for the long term. 221 00:12:23,520 --> 00:12:26,680 Large institutional investors don't purchase something to flip 222 00:12:26,680 --> 00:12:29,520 it the next month. They are constructing portfolios 223 00:12:29,520 --> 00:12:32,880 for multiple decades. The endorsement by the likes of 224 00:12:32,880 --> 00:12:36,360 Larry Fink isn't a sign that Larry is suddenly a Bitcoin 225 00:12:36,360 --> 00:12:38,240 bull. It's a sign that clients are 226 00:12:38,240 --> 00:12:41,680 knocking on black rocks door asking for a vehicle to gain 227 00:12:41,880 --> 00:12:45,360 exposure and then just adding up and closing this out goes the 228 00:12:45,360 --> 00:12:48,360 landscape and profile of the asset has shifted. 229 00:12:48,360 --> 00:12:50,680 It's not about the ETF. It's about the reason why the 230 00:12:50,680 --> 00:12:53,360 ETF is coming. Institutional exposure has been 231 00:12:53,360 --> 00:12:55,840 given a green light. It won't happen all at once, but 232 00:12:55,840 --> 00:12:57,560 understand the shift that is underway. 233 00:12:57,800 --> 00:13:01,680 Bitcoin has been accumulated by individuals and retail for some 234 00:13:01,680 --> 00:13:05,000 time now, while institutions mostly watch the madness from 235 00:13:05,000 --> 00:13:06,640 the sidelines. This is changing. 236 00:13:06,880 --> 00:13:09,520 Welcome. And on that note, guys, shouts 237 00:13:09,520 --> 00:13:11,080 out to every single one of you guys out there. 238 00:13:11,080 --> 00:13:15,720 That front ran the institutions. Of course, as a bitcoiner, A 239 00:13:15,720 --> 00:13:18,120 layman, Bitcoin, an average everyday bitcoiner. 240 00:13:18,520 --> 00:13:21,920 I fundamentally think it's it's super important for just every 241 00:13:22,000 --> 00:13:24,640 everyday people to hold spot Bitcoin, to take Bitcoin into 242 00:13:24,640 --> 00:13:28,040 custody, to own something that cannot be the base, that cannot 243 00:13:28,040 --> 00:13:29,920 be taken. Finally having some property 244 00:13:30,200 --> 00:13:34,120 that cannot be stolen from you because it is what's what sailor 245 00:13:34,120 --> 00:13:38,640 always say, you know protected by a Hornets of cyber Hornets or 246 00:13:38,640 --> 00:13:42,680 whatever the meme is. But it just goes to show, look, 247 00:13:42,680 --> 00:13:46,720 I've been saying this on simply for a while, that the ETF 248 00:13:46,720 --> 00:13:50,400 approval on the one hand Gibbs retail, that sense of 249 00:13:50,400 --> 00:13:53,320 legitimacy, like, oh, the big guys want Bitcoin, maybe it's 250 00:13:53,320 --> 00:13:57,160 safe to invest in Bitcoin. And on the flip side, it just 251 00:13:57,160 --> 00:13:59,760 goes to show that the biggest asset managers in the world are 252 00:13:59,760 --> 00:14:03,920 now going to allocate some of their capital to Bitcoin. 253 00:14:03,920 --> 00:14:07,480 And so on all fronts, Bitcoin is, you know, for better or 254 00:14:07,480 --> 00:14:10,480 worse, being legitimized in the eyes of institutional investors, 255 00:14:10,480 --> 00:14:12,160 in the eyes of the Normies out there. 256 00:14:12,920 --> 00:14:15,400 And look, we knew this was going to happen. 257 00:14:15,400 --> 00:14:18,320 This is all part of the game. So I know there's a lot of 258 00:14:18,320 --> 00:14:21,200 crabby bitcoiners that are like, why do we keep talking about the 259 00:14:21,200 --> 00:14:23,800 ETF? Well, this is where Bitcoin is. 260 00:14:23,800 --> 00:14:25,440 This is where we are in the story. 261 00:14:25,760 --> 00:14:29,640 And Bitcoin is growing up. We're at what, 15 years maybe? 262 00:14:29,640 --> 00:14:32,200 Yeah, 15 years. And soon. 263 00:14:32,320 --> 00:14:34,880 I saw a tweet by VJ this morning, which which I thought 264 00:14:34,880 --> 00:14:38,360 was awesome And he goes, look, in about four or five years 265 00:14:39,000 --> 00:14:41,560 Bitcoin will be 20 years old and there will be people in this 266 00:14:41,560 --> 00:14:46,680 world that have lived their entire lives with Bitcoin being 267 00:14:46,720 --> 00:14:50,640 alive, being legitimized, and they won't know a world without 268 00:14:50,640 --> 00:14:52,240 Bitcoin. And here we're seeing the 269 00:14:52,240 --> 00:14:54,520 biggest asset managers in the world are starting to get 270 00:14:54,520 --> 00:14:57,200 bullish in Bitcoin. Yes, we know this will be an 271 00:14:57,200 --> 00:15:00,120 influx of capital in the Bitcoin and I'm sure the price will 272 00:15:00,120 --> 00:15:04,640 respond, but this just goes to show that Bitcoin is a viable 273 00:15:04,640 --> 00:15:08,000 long term investment for everyone out there. 274 00:15:08,000 --> 00:15:11,920 Whether they're trying to get exposure through institutions or 275 00:15:11,920 --> 00:15:15,200 just you like you and I just taking Bitcoin into custody. 276 00:15:15,960 --> 00:15:18,400 Bitcoin is growing up and you just love to see it anyways 277 00:15:18,400 --> 00:15:21,840 Daniel, and not to Doss you too much, but I know you've been in 278 00:15:21,840 --> 00:15:25,120 Bitcoin for a while, so what's your thoughts on the ETF news? 279 00:15:25,120 --> 00:15:27,880 You know, maybe just in general, what's your thoughts hearing 280 00:15:27,880 --> 00:15:30,480 this stuff? Yeah, So even before I was in 281 00:15:30,480 --> 00:15:38,120 Bitcoin, I worked in commodities trading and, you know, learned a 282 00:15:38,120 --> 00:15:40,080 lot about the traditional financial markets. 283 00:15:40,400 --> 00:15:47,080 And the gold ETF was just a major, major catalyst in pushing 284 00:15:47,080 --> 00:15:50,600 up the price of gold right when the gold ETF, the first real 285 00:15:50,600 --> 00:15:54,400 gold ETF, launched in 2005. So it wasn't that the gold price 286 00:15:54,400 --> 00:15:58,040 immediately went up, it was that it just kicked off this really 287 00:15:58,120 --> 00:16:01,160 long bull market. For the next five years the 288 00:16:01,160 --> 00:16:05,440 price of gold was going way up. And again, gold was just a much 289 00:16:05,480 --> 00:16:09,440 larger market than Bitcoin is right now. 290 00:16:09,720 --> 00:16:14,640 And again, you know, people already in general understood as 291 00:16:14,640 --> 00:16:16,640 gold, as being valuable. Right. 292 00:16:16,640 --> 00:16:20,320 And part of the opportunity in Bitcoin has come from the fact 293 00:16:20,320 --> 00:16:24,400 that still the, you know, very large number of people don't see 294 00:16:24,400 --> 00:16:27,720 it as valuable as we do. They don't really understand the 295 00:16:27,720 --> 00:16:31,200 properties of it. So the ETF is a big deal. 296 00:16:31,200 --> 00:16:36,360 I I like rappers. An ETF is essentially a rapper 297 00:16:36,360 --> 00:16:39,360 you're you're taking something and then you're making it behave 298 00:16:39,480 --> 00:16:43,200 as if it was a stock, even though it's not a an equity in a 299 00:16:43,200 --> 00:16:45,440 company. Exactly so. 300 00:16:46,520 --> 00:16:50,800 For for some people, right, they want the they want the exposure 301 00:16:50,800 --> 00:16:54,080 to the price of Bitcoin without the properties of Bitcoin, 302 00:16:54,080 --> 00:16:54,800 right? They don't. 303 00:16:54,840 --> 00:16:56,640 They don't want the self custody, they don't want to 304 00:16:56,640 --> 00:16:59,160 write down 12 words. They want to see it in their 305 00:16:59,160 --> 00:17:02,400 portfolio next to their stocks, next to their bonds, next to 306 00:17:02,400 --> 00:17:04,880 their other holdings. And that was one of the 307 00:17:04,960 --> 00:17:07,200 catalysts, right, for driving gold. 308 00:17:07,480 --> 00:17:10,560 Of course, right before the gold ETF, could somebody go out and 309 00:17:10,560 --> 00:17:13,160 buy a bar of gold or some gold coins and then just. 310 00:17:13,680 --> 00:17:16,640 Keep it around the house or keep it in a safety deposit box. 311 00:17:16,640 --> 00:17:18,440 Yeah, they could, but it wouldn't be part of their 312 00:17:18,440 --> 00:17:22,599 portfolio. So when when products like that 313 00:17:22,599 --> 00:17:25,400 launched, it just makes it so much easier for people to 314 00:17:25,400 --> 00:17:28,600 include that. And again, right, for regular 315 00:17:28,600 --> 00:17:31,160 bitcoiners, you know you, they're going to want to have 316 00:17:31,160 --> 00:17:33,680 actual Bitcoin because they want the properties of Bitcoin. 317 00:17:34,200 --> 00:17:38,920 But for people who just want to, you know, get some dollars and, 318 00:17:38,960 --> 00:17:40,560 you know, come along for the ride. 319 00:17:41,040 --> 00:17:43,840 They can do that and they end up increasing bitcoins purchasing 320 00:17:43,840 --> 00:17:46,320 power for the people who have self custody. 321 00:17:46,320 --> 00:17:49,400 They end up you know it's strengthening the network 322 00:17:49,400 --> 00:17:53,000 because more miners come on when the price is higher and it 323 00:17:53,000 --> 00:17:57,040 inspires more people to basically pay attention because 324 00:17:57,040 --> 00:18:00,960 as we know the waves of adoption have come from Bitcoin going 325 00:18:00,960 --> 00:18:03,680 well past its previous all time highs. 326 00:18:06,560 --> 00:18:09,280 So as. So the other interesting thing 327 00:18:09,280 --> 00:18:12,280 right is. We have, we're starting to see 328 00:18:12,280 --> 00:18:16,200 some products now with using discrete log contracts where 329 00:18:16,200 --> 00:18:19,520 people can have the properties of Bitcoin, the the self 330 00:18:19,520 --> 00:18:24,480 sovereignty self custody but can avoid having exposure to the 331 00:18:24,960 --> 00:18:27,840 volatility of Bitcoin with respect to the dollar. 332 00:18:28,680 --> 00:18:32,680 So I think it's it's ultimately good for people who want to be 333 00:18:32,680 --> 00:18:35,440 able to have exposure to the price to have exposure to the 334 00:18:35,440 --> 00:18:38,200 price and people who want to have exposure to the properties. 335 00:18:38,680 --> 00:18:40,960 Have that and then you know for those of us who are you know are 336 00:18:40,960 --> 00:18:44,480 fine with both you know we can we can have both. 337 00:18:44,520 --> 00:18:47,720 It's just a it's really a win win for everybody. 338 00:18:47,960 --> 00:18:49,960 I was just going to have before about Moscow time. 339 00:18:49,960 --> 00:18:52,680 What I really want to see is I want to see that, you know, 340 00:18:52,680 --> 00:18:56,320 sats, Sats per dollar go under 2400. 341 00:18:56,320 --> 00:18:58,600 Because the meme is it makes a lot more sense when it's when 342 00:18:58,600 --> 00:19:02,840 it's less than 2400. Wow. 343 00:19:02,840 --> 00:19:05,160 I never even thought about that. But yeah, great, great. 344 00:19:05,360 --> 00:19:07,800 Definitely. Man, they're really gonna have a 345 00:19:07,800 --> 00:19:09,440 heyday with that one. Yeah. 346 00:19:09,440 --> 00:19:11,920 And I like to say, right, It's not a clock. 347 00:19:11,920 --> 00:19:16,960 It's counting down to 0. So that, that's the, that's the 348 00:19:16,960 --> 00:19:19,720 number that I'm really excited about when it just shows 0. 349 00:19:20,280 --> 00:19:21,560 Let's go. Love it. 350 00:19:21,560 --> 00:19:23,560 All right, guys. Now you guys heard a new meme in 351 00:19:23,560 --> 00:19:25,920 the chat, guys, so meme it into reality. 352 00:19:25,920 --> 00:19:30,000 All right, Sophie, let's not talk necessarily about all the 353 00:19:30,000 --> 00:19:32,400 macro implications of ETFs and all that stuff. 354 00:19:32,400 --> 00:19:37,240 But you have been doing on the ground interviews with everyday 355 00:19:37,240 --> 00:19:40,000 people and you've been asking them this question. 356 00:19:40,000 --> 00:19:44,120 So you actually have some hands on experience talking to people 357 00:19:44,120 --> 00:19:46,280 outside of Bitcoin, which probably hopefully most people 358 00:19:46,280 --> 00:19:48,720 don't anymore because all of our friends are Bitcoiners. 359 00:19:48,720 --> 00:19:50,040 So what's your thoughts on this, Sophie? 360 00:19:50,960 --> 00:19:56,040 My thoughts on this are that an ETF is one of the best marketing 361 00:19:56,440 --> 00:19:59,040 like campaigns that we could have. 362 00:19:59,360 --> 00:20:05,400 As bitcoiners, who cares really? If other people aren't buying 363 00:20:05,400 --> 00:20:08,840 their own Bitcoin, they can have fun staying poor and getting 364 00:20:08,840 --> 00:20:11,840 screwed by the government. To be honest with you like that, 365 00:20:11,840 --> 00:20:15,360 that's none of my business. I'm just happy that I have my 366 00:20:15,360 --> 00:20:18,920 Bitcoin in self custody. And everybody here, everybody in 367 00:20:18,920 --> 00:20:21,400 this chat, everybody who actually knows. 368 00:20:21,920 --> 00:20:26,000 They're they're going to be okay and and and honestly I'm that's 369 00:20:26,000 --> 00:20:30,600 that's my number one concern. My second concern is number go 370 00:20:30,600 --> 00:20:35,800 up when this ETF gets approved. There is no telling how high the 371 00:20:35,800 --> 00:20:41,280 price of Bitcoin is going to go. And that is actually, I mean the 372 00:20:41,560 --> 00:20:44,680 I call the ETF the best marketing campaign for Bitcoin. 373 00:20:44,680 --> 00:20:48,160 But really what's the best marketing campaign is number go 374 00:20:48,160 --> 00:20:49,880 up. When people start seeing the 375 00:20:49,880 --> 00:20:52,720 price go up, how many of you have gotten that text from your 376 00:20:52,720 --> 00:20:55,680 friends and family saying, hey, so tell me about that Bitcoin 377 00:20:55,680 --> 00:20:59,360 thing because their greed is their incentive. 378 00:20:59,360 --> 00:21:01,600 They just want to make money off of this thing. 379 00:21:01,760 --> 00:21:05,360 And so if they feel like they're, you know, like not 380 00:21:05,360 --> 00:21:09,280 having FOMO and their stock broker, money manager, whatever 381 00:21:09,280 --> 00:21:12,360 is telling them, oh, like we can get this Bitcoin ETF. 382 00:21:12,360 --> 00:21:16,440 And they make it sound super legit and super comfortable for 383 00:21:16,440 --> 00:21:18,920 them. And they feel like, yes, I 384 00:21:18,920 --> 00:21:22,840 bought into Bitcoin. Like, you know what you do? 385 00:21:23,000 --> 00:21:26,320 You eventually when they start to see the other properties of 386 00:21:26,320 --> 00:21:29,400 Bitcoin, they'll be like, oh, I remember I bought some Bitcoin, 387 00:21:29,400 --> 00:21:32,640 I made some money off of it. So now I know that it's not, you 388 00:21:32,640 --> 00:21:35,200 know, this gamble that everybody made it out to be. 389 00:21:35,200 --> 00:21:38,920 It's not like every other shit coin that I've been screwed over 390 00:21:38,920 --> 00:21:41,400 by. It's actually something that I 391 00:21:41,400 --> 00:21:44,440 can store my value in. Let me look into how I can do 392 00:21:44,440 --> 00:21:48,840 this and not have to pay my stockbroker an X amount 393 00:21:49,240 --> 00:21:53,280 percentage of My Portfolio or a monthly fee so that I can 394 00:21:53,280 --> 00:21:55,640 actually do this myself. Wow, I could have done this 395 00:21:55,640 --> 00:22:00,680 myself the whole time. It it starts the process of 396 00:22:00,680 --> 00:22:04,480 falling into the rabbit hole and everybody starts at a different 397 00:22:04,480 --> 00:22:07,760 place. I started, you know, with with 398 00:22:07,760 --> 00:22:10,320 Coinbase, you know what I mean? And I didn't know what self 399 00:22:10,320 --> 00:22:14,720 custody was until I started to learn about it, until I started 400 00:22:14,720 --> 00:22:19,040 to to see what the other properties of Bitcoin were. 401 00:22:19,280 --> 00:22:21,760 And so everybody starts somewhere. 402 00:22:21,760 --> 00:22:25,360 If this is where somebody else's starting point is, I'm not going 403 00:22:25,360 --> 00:22:27,840 to judge them for that because at the end of the day, it's 404 00:22:27,840 --> 00:22:31,200 great for my bag and I already have my Bitcoin in self custody. 405 00:22:31,200 --> 00:22:34,280 So it really is a win win all around, like Daniel said. 406 00:22:34,560 --> 00:22:38,120 And I'm looking forward to this happening and me telling 407 00:22:38,400 --> 00:22:41,560 everybody that I know. I told you so. 408 00:22:41,640 --> 00:22:46,920 This stuff is legit. Yeah, years ago I I told some 409 00:22:47,120 --> 00:22:49,560 somebody when they were asking me what stock should I buy, I 410 00:22:49,560 --> 00:22:52,520 said you should buy Bitcoin. And they're like, oh, what's 411 00:22:52,520 --> 00:22:54,360 the, what's the, what's the symbol, what's the ticker? 412 00:22:54,600 --> 00:22:56,320 And I'm like it, it doesn't have one. 413 00:22:56,320 --> 00:22:59,120 You know, by the time there is, you know, something like that, 414 00:22:59,200 --> 00:23:00,720 the price is going to be a lot higher. 415 00:23:01,480 --> 00:23:03,240 Love it. That's all I get on the The 416 00:23:03,240 --> 00:23:06,680 advantage now is that it is It does take a little bit of effort 417 00:23:06,920 --> 00:23:08,520 to actually think about it, right? 418 00:23:08,840 --> 00:23:11,560 Bitcoin isn't harder than traditional investments. 419 00:23:11,560 --> 00:23:15,120 It's just unfamiliar. So there's there's people 420 00:23:15,120 --> 00:23:16,800 actually have to put in a little bit of effort. 421 00:23:17,200 --> 00:23:19,720 Love it, love it. Great, great tags Daniel. 422 00:23:19,720 --> 00:23:23,200 And and before I move on, Sophie, you're so much more 423 00:23:23,200 --> 00:23:26,680 toxic than Nico. What do you mean? 424 00:23:26,920 --> 00:23:33,440 How am I more toxic than Nico? I rarely hear Nico say have fun 425 00:23:33,440 --> 00:23:35,440 staying poor. And yet, I think you've said 426 00:23:35,440 --> 00:23:37,960 that like 12 times since you've been on the show this week. 427 00:23:38,120 --> 00:23:40,200 Dude, 'cause it's true. You know what? 428 00:23:40,400 --> 00:23:44,200 Bring bullying back. Bullying works when you bully 429 00:23:44,200 --> 00:23:45,960 people. Listen, this is because I'm 430 00:23:45,960 --> 00:23:49,160 Latina and I come from a Latin household where like, they tell 431 00:23:49,160 --> 00:23:53,120 you shit how it is. If you tell people some really 432 00:23:53,120 --> 00:23:57,440 hard truth, they're they're they're gonna be forced to think 433 00:23:57,440 --> 00:23:59,240 about it. It's like when somebody tells 434 00:23:59,240 --> 00:24:02,280 you something about your appearance and you never noticed 435 00:24:02,280 --> 00:24:03,960 it before and you're like, damn, whatever. 436 00:24:03,960 --> 00:24:06,600 And now you're like fixating on it and you're like, damn, it's 437 00:24:06,600 --> 00:24:09,400 true and it makes you do something about it. 438 00:24:09,680 --> 00:24:12,880 This is the same thing. Have fun staying poor. 439 00:24:12,880 --> 00:24:15,920 I'm gonna make you feel bad because I know that I'm right 440 00:24:16,200 --> 00:24:20,400 and you're not, and so and I'm and I'm actually doing you a 441 00:24:20,400 --> 00:24:23,080 favor. I'm causing you some short term 442 00:24:23,080 --> 00:24:27,160 pain for some long term gain and then you will thank me. 443 00:24:28,640 --> 00:24:29,560 Love it. Love it. 444 00:24:29,680 --> 00:24:33,200 As as our friend planet Earth who hangs out in the chat always 445 00:24:33,200 --> 00:24:35,520 says, Bitcoin is for smart people. 446 00:24:35,520 --> 00:24:40,080 You probably don't watch them. It's kind of, you know, who is 447 00:24:40,080 --> 00:24:41,680 it rubbing in the chest? Like it's going to be so hard 448 00:24:41,680 --> 00:24:44,360 not to be toxic moving forward? Yes, it will be. 449 00:24:44,360 --> 00:24:47,640 Anyways guys, before we get into today's breaking news. 450 00:24:48,480 --> 00:24:50,920 Make sure you guys get your tickets to the Bitcoin 451 00:24:50,920 --> 00:24:53,400 conference in Nashville. We're taking over Nashville July 452 00:24:53,400 --> 00:24:57,760 25th and 27th and you can get a discount code using simply. 453 00:24:57,960 --> 00:24:59,840 I know you guys complain about the prices. 454 00:24:59,840 --> 00:25:02,720 This is why we're telling you to get it Now you will FOMO into 455 00:25:02,720 --> 00:25:05,800 the conference that happens every single year and we can't 456 00:25:05,800 --> 00:25:08,840 wait to see you guys. So get yourself a ticket, guys, 457 00:25:08,840 --> 00:25:13,080 and we will be hanging out in Nashville next year. 458 00:25:13,080 --> 00:25:21,400 All right, guys, let's get to the news, the Daily News. 459 00:25:22,960 --> 00:25:26,560 I want to give a shout out to our sponsor, Foundation Devices. 460 00:25:26,720 --> 00:25:30,080 It's self custody done right. They built a premium grade 461 00:25:30,080 --> 00:25:33,520 hardware wallet called Passport right here in the US. 462 00:25:33,520 --> 00:25:35,880 It's fully open source and verifiable. 463 00:25:36,040 --> 00:25:39,560 It's the most intuitive Bitcoin wallet designed with the UX, 464 00:25:39,560 --> 00:25:42,120 reminiscent of a simple feature phone. 465 00:25:42,600 --> 00:25:44,920 So you will know how to navigate it and use it the moment you 466 00:25:44,920 --> 00:25:47,800 pick it up. Get your Bitcoin off exchanges 467 00:25:47,800 --> 00:25:50,520 and into your into your own hands in just a few minutes. 468 00:25:50,520 --> 00:25:53,560 Experience the Peace of Mind that comes with taking ownership 469 00:25:53,600 --> 00:25:56,560 of your own keys. After a massive sell out during 470 00:25:56,560 --> 00:26:00,560 Bitcoin Miami 2023, the passport is back in stock at 471 00:26:00,560 --> 00:26:04,280 foundationdevices.com. Bitcoin only, open source, 472 00:26:04,280 --> 00:26:08,240 verifiable completely air gap, security model, gorgeous design, 473 00:26:08,240 --> 00:26:11,600 craft, premium grade materials if you're thinking about getting 474 00:26:11,600 --> 00:26:14,200 your Bitcoin off exchange. Changes, this is the one for 475 00:26:14,200 --> 00:26:16,280 you. Check out the passport link in 476 00:26:16,280 --> 00:26:18,240 the show notes below to learn more. 477 00:26:19,160 --> 00:26:20,960 All right, guys, we're going to have to update that ad, because 478 00:26:20,960 --> 00:26:23,680 don't think about it. You need to get your Bitcoin off 479 00:26:23,680 --> 00:26:26,680 exchanges. Get yourself a passport by 480 00:26:26,680 --> 00:26:30,160 foundation, scan the QR code. Because you didn't. 481 00:26:30,160 --> 00:26:31,880 It's not your Bitcoin if you leave it on exchange. 482 00:26:32,080 --> 00:26:33,240 We definitely got to update that. 483 00:26:33,240 --> 00:26:35,920 All right. Anyways, guys, big news, big 484 00:26:35,920 --> 00:26:37,520 news. But before I get to the big news 485 00:26:37,520 --> 00:26:40,040 today, let's talk about the context here. 486 00:26:40,320 --> 00:26:42,040 So. You know I'm going to have to 487 00:26:42,120 --> 00:26:44,600 kind of this might get a little nitty gritty for you guys. 488 00:26:44,600 --> 00:26:47,720 We we try to keep it high level as much as possible for you 489 00:26:47,720 --> 00:26:50,200 guys. So you know don't don't think of 490 00:26:50,200 --> 00:26:51,640 this. It might get a little technical, 491 00:26:51,640 --> 00:26:55,520 but it won't be too technical. So there is a lot of fun and 492 00:26:55,520 --> 00:26:58,720 you've been seeing this reoccur on Twitter about mining 493 00:26:58,720 --> 00:27:01,600 centralization and it might just be that people don't fully 494 00:27:01,600 --> 00:27:04,520 understand what's going on. There is, as you can see. 495 00:27:04,520 --> 00:27:06,360 Here I do. I'm over here on Luxor. 496 00:27:07,040 --> 00:27:10,840 You can see that we have Bitcoin mining pools and actually before 497 00:27:10,840 --> 00:27:14,880 I go in, maybe I need to do a breakdown differentiating 498 00:27:14,880 --> 00:27:19,320 between solo mining, why you would want to use a pool and or 499 00:27:19,320 --> 00:27:21,440 why you might want to avoid using big pools. 500 00:27:21,440 --> 00:27:25,200 So of course, guys, you know, hey, you can plug in an ASIC. 501 00:27:25,600 --> 00:27:29,240 And be a solo miner and you may potentially land yourself a 502 00:27:29,240 --> 00:27:30,840 block. Land yourself a big block 503 00:27:30,840 --> 00:27:33,720 subsidy. Currently it's at 6.25, but 504 00:27:33,720 --> 00:27:39,040 usually if you are mining your you know your S 9, your single S 505 00:27:39,040 --> 00:27:43,360 19, your chances of getting a block are slim to none. 506 00:27:43,440 --> 00:27:48,320 There is huge, huge ASIC farms out there and. 507 00:27:48,640 --> 00:27:52,280 You don't have enough hatch power to necessarily beat them 508 00:27:52,280 --> 00:27:55,160 out or get lucky to get yourself a blocked subsidy. 509 00:27:55,160 --> 00:27:59,800 So most people link up to a mining pool, and you usually do 510 00:27:59,800 --> 00:28:04,080 this because it gives you a consistent payout and if you're 511 00:28:04,080 --> 00:28:07,440 spending money on electricity. You're going to want to get paid 512 00:28:07,440 --> 00:28:10,600 and so people link into mining pools so that they can get a 513 00:28:10,600 --> 00:28:13,760 consistent payout. And as you can see here on this 514 00:28:13,760 --> 00:28:16,880 chart, this over here on Hash Rate Indexes by Luxor, you can 515 00:28:16,880 --> 00:28:21,360 see the biggest Bitcoin mining pools, or rather the most 516 00:28:21,360 --> 00:28:23,800 popular mining pools, and there are a few other ones that aren't 517 00:28:23,800 --> 00:28:25,600 here. I know there's a few new solo 518 00:28:25,600 --> 00:28:28,840 mining pools that are part of this, but you can see that the 519 00:28:28,840 --> 00:28:31,880 two biggest mining pools right here, and Pool and Foundry 520 00:28:32,040 --> 00:28:36,240 collectively have more than 51% of the hash power. 521 00:28:36,640 --> 00:28:39,760 And if you know anything, if you know any rudimentary aspect of 522 00:28:39,760 --> 00:28:44,480 Bitcoin mining, there is a thing called a 51% attack on Bitcoin. 523 00:28:44,840 --> 00:28:49,840 And people have been saying on Twitter that, you know, maybe 524 00:28:49,840 --> 00:28:53,320 collectively, Foundry and Ant Pool, maybe they'll just get 525 00:28:53,320 --> 00:28:57,400 sent a court order. And then they will have to, you 526 00:28:57,400 --> 00:29:00,720 know, by law, by their regulations, you know, by by the 527 00:29:00,720 --> 00:29:05,880 powers that be. Sensor Bitcoin and start to 528 00:29:05,880 --> 00:29:08,480 avoid some transactions and we have seen there's been a lot of 529 00:29:08,480 --> 00:29:13,040 push push towards OFAT compliant Bitcoin mining blocks, Bitcoin 530 00:29:13,040 --> 00:29:17,880 mining transactions. And now we just saw that before 531 00:29:17,880 --> 00:29:21,440 I get into the big news of today of Jack Dorsey leading 532 00:29:22,000 --> 00:29:26,200 investment into oceans, let's talk about DEMAND. 533 00:29:26,200 --> 00:29:29,120 So Demand launched the world's first Stratum V2 Bitcoin mining 534 00:29:29,120 --> 00:29:30,560 pool. We did a whole episode on 535 00:29:30,560 --> 00:29:32,800 Stratum V2, I think it was like 2-3 months ago. 536 00:29:33,000 --> 00:29:36,160 So I'm not going to go fully deep into what Stratum V2 does, 537 00:29:36,160 --> 00:29:39,160 but it does cover this in this article before I get into 538 00:29:39,160 --> 00:29:41,640 today's news. So this pool, built on the open 539 00:29:41,640 --> 00:29:44,240 source Stratum reference implementation aims to. 540 00:29:44,600 --> 00:29:47,840 Usher in a new era for mining by introducing enhanced security, 541 00:29:47,840 --> 00:29:51,720 flexibility and performance. So Bitcoin mining company Demand 542 00:29:51,720 --> 00:29:54,760 has announced today, does this have the date November 27th? 543 00:29:54,760 --> 00:29:55,880 Oh, it was this week, it was Monday. 544 00:29:55,880 --> 00:29:57,640 All right. Bitcoin mining company Demand 545 00:29:57,640 --> 00:30:00,320 has announced today the world's inaugural stratum V2 mining 546 00:30:00,320 --> 00:30:02,160 pool. According to press release sent 547 00:30:02,160 --> 00:30:05,160 to Bitcoin Mag, this pool built on the open source Stratum 548 00:30:05,160 --> 00:30:08,200 reference implementation, aims to usher in a new era for 549 00:30:08,200 --> 00:30:10,280 mining. Introducing enhanced security, 550 00:30:10,280 --> 00:30:12,960 flexibility and performance, the Stratum V2 protocol marks a 551 00:30:12,960 --> 00:30:16,160 significant leap forward from its predecessor, according to 552 00:30:16,160 --> 00:30:18,920 the release, offering a suite of improvements that not only 553 00:30:18,920 --> 00:30:21,960 elevate mining capabilities but also champion a more 554 00:30:21,960 --> 00:30:25,240 decentralized mining landscape, Alejandro de la Torre Demands, 555 00:30:25,240 --> 00:30:29,040 Co founder and CEO, stated. With Stratum V2 and our new solo 556 00:30:29,040 --> 00:30:32,760 mining pool, we aim to make home mining more attractive, which 557 00:30:32,760 --> 00:30:35,120 should in effect help decentralize the Bitcoin mining 558 00:30:35,160 --> 00:30:38,640 ecosystem and improve the health of the Bitcoin network overall. 559 00:30:39,040 --> 00:30:41,920 The key feature of Stratum V2 is its empowerment of individual 560 00:30:41,920 --> 00:30:44,040 miners to construct their own block templates. 561 00:30:44,240 --> 00:30:47,240 Traditionally, mining pool operators related control over 562 00:30:47,240 --> 00:30:51,240 transaction selection, posing centralized risk vulnerable to 563 00:30:51,400 --> 00:30:54,080 potential regulatory pressures for transaction censorship, 564 00:30:54,320 --> 00:30:57,840 which I just briefly covered. Stratum V2 now grants mining 565 00:30:57,840 --> 00:31:00,520 pool users the autonomy to select transaction for block 566 00:31:00,520 --> 00:31:04,200 inclusion, fostering a more decentralized network resistance 567 00:31:04,400 --> 00:31:07,600 to censorship because Bitcoin mining is overwhelming 568 00:31:07,600 --> 00:31:08,960 overwhelmingly done through mining. 569 00:31:09,080 --> 00:31:12,720 Pools transaction selection has become relatively centralized. 570 00:31:12,720 --> 00:31:15,880 Only a few mining pool operators can essentially decide to 571 00:31:15,880 --> 00:31:18,800 collude and prevent that certain transactions ever confirmed 572 00:31:19,000 --> 00:31:23,120 Demand Co founder and Sri project lead Felipo Murli 573 00:31:23,120 --> 00:31:25,640 Apologize Bro said. Strategy two gives the power of 574 00:31:25,640 --> 00:31:28,960 transaction selection back to the individual miners to make 575 00:31:28,960 --> 00:31:32,320 the mining ecosystem more decentralized and Bitcoin more 576 00:31:32,440 --> 00:31:35,400 censorship resistance. Well, this isn't the only news 577 00:31:35,400 --> 00:31:38,320 that dropped this week in regards to decentralizing 578 00:31:38,320 --> 00:31:41,280 Bitcoin mining. We got this news yesterday. 579 00:31:41,440 --> 00:31:44,080 It came out at the Future of Bitcoin Mining conference that 580 00:31:44,080 --> 00:31:47,760 Nico was actually AT and we got this tweet this morning from 581 00:31:47,760 --> 00:31:51,120 Luke Dash Junior and he goes as announced at the Future of 582 00:31:51,120 --> 00:31:54,440 Bitcoin Mining conference. I have relaunched my Allegis 583 00:31:54,440 --> 00:31:57,200 mining pool to help bring more decentralization in Bitcoin 584 00:31:57,200 --> 00:31:59,240 mining. I am calling it Ocean. 585 00:31:59,760 --> 00:32:01,920 And here's the press release. I will cover the press release, 586 00:32:01,920 --> 00:32:05,400 but the old code has already been updated and tested with 587 00:32:05,400 --> 00:32:08,200 support for the latest Bitcoin addresses and mining machines. 588 00:32:08,400 --> 00:32:11,400 As was the case with the legious, Ocean is a non 589 00:32:11,400 --> 00:32:15,160 custodial pool paying miners directly with generated coins, 590 00:32:15,160 --> 00:32:17,880 and it provides the highest level of transparency both in 591 00:32:17,880 --> 00:32:21,720 proof of work contribution and block template construction. 592 00:32:21,960 --> 00:32:24,160 Absolutely love to see. All right, so let's get into 593 00:32:24,160 --> 00:32:26,400 this press release. As you can see, we are over here 594 00:32:26,400 --> 00:32:30,200 on PR Newswire. The I don't know the the the 595 00:32:30,200 --> 00:32:32,560 industry standard for press releases and it goes. 596 00:32:32,560 --> 00:32:35,800 Jack Dorsey leads Seed Round in support of Ocean's mission to 597 00:32:35,800 --> 00:32:39,440 decentralize Bitcoin mining globally, Announces launch at 598 00:32:39,440 --> 00:32:41,920 Future of Bitcoin Mining conference. 599 00:32:41,920 --> 00:32:45,280 So the seed funding will support the launch of Ocean, the first 600 00:32:45,280 --> 00:32:49,080 of many mining decentralization projects for Bitcoin long term. 601 00:32:49,080 --> 00:32:52,960 Bitcoin Core developer and Mamolin Co founder Luke Dash 602 00:32:52,960 --> 00:32:56,120 Junior said the role of mining pools must change for Bitcoin to 603 00:32:56,120 --> 00:32:58,440 exist. As a truly decentralized 604 00:32:58,440 --> 00:33:00,920 currency. Put differently, Ocean is a new 605 00:33:00,920 --> 00:33:04,480 type of pool that enables miners to be truly miners again. 606 00:33:04,480 --> 00:33:07,560 We are launching as the most transparent pool and also the 607 00:33:07,560 --> 00:33:11,360 only non custodial pool where miners are the recipients of new 608 00:33:11,360 --> 00:33:13,480 block rewards directly from Bitcoin. 609 00:33:13,680 --> 00:33:16,760 Traditional Bitcoin mining pools take exclusive custody of block 610 00:33:16,760 --> 00:33:20,040 rewards and transaction fees before splitting them up amongst 611 00:33:20,040 --> 00:33:22,280 miners. This gives them the ability to 612 00:33:22,280 --> 00:33:25,360 withhold payment from individual miners, whether by their own 613 00:33:25,360 --> 00:33:28,800 choice or by legal requirement. Oceans non custodial payouts 614 00:33:28,800 --> 00:33:31,920 directly to miners from the block reward removed this risk 615 00:33:31,920 --> 00:33:34,680 and the pools undue influence over miners. 616 00:33:35,040 --> 00:33:38,040 Oceans Global head of Sales, the synonymous Bitcoin mechanic, 617 00:33:38,040 --> 00:33:40,680 said this. The intention is to 618 00:33:40,760 --> 00:33:43,760 disintermediate to the greatest extent possible. 619 00:33:43,760 --> 00:33:47,440 Pools have become trusted third parties whose permission we have 620 00:33:47,680 --> 00:33:50,600 required for activating soft forks and deciding what gets 621 00:33:50,600 --> 00:33:54,080 into the blockchain, in addition to taking custody of all newly 622 00:33:54,080 --> 00:33:56,960 generated coins. By offering transparency and a 623 00:33:56,960 --> 00:34:00,320 mechanism for minors to be paid directly by Bitcoin itself, we 624 00:34:00,320 --> 00:34:02,560 make the network radically more robust. 625 00:34:02,680 --> 00:34:05,680 The name Ocean intentionally contrasts with the restrictive 626 00:34:05,680 --> 00:34:07,920 permission nature of legacy pools. 627 00:34:08,159 --> 00:34:09,199 Essentially, you know you got to. 628 00:34:10,000 --> 00:34:12,280 You got to play by the rules when you're in a pool, but when 629 00:34:12,280 --> 00:34:14,239 you're in the ocean you can do whatever you want. 630 00:34:14,400 --> 00:34:17,440 So our contribution to ocean comes out of a deep respect for 631 00:34:17,440 --> 00:34:20,600 their mission, says Jack Dorsey. I think it's a phenomenal team. 632 00:34:20,600 --> 00:34:23,440 I know Luke, I've interacted with him for some time and I was 633 00:34:23,440 --> 00:34:26,880 inspired by the vision and most importantly, the execution, Mr. 634 00:34:26,880 --> 00:34:29,560 Dorsey noted. Ocean is solving a problem for 635 00:34:29,560 --> 00:34:32,760 bit corners that I think all of us feel further centralization 636 00:34:32,760 --> 00:34:35,800 of pools and mining pools that can plague Bitcoin and how that 637 00:34:35,800 --> 00:34:39,040 risk a bunch of Bitcoin attributes that we hold dear as 638 00:34:39,040 --> 00:34:40,600 part of the. Launch, Mr. Dorsey noted. 639 00:34:40,600 --> 00:34:43,400 When I see a project that is good for Bitcoin broadly and 640 00:34:43,400 --> 00:34:46,400 that's also good for me and my companies personally, it becomes 641 00:34:46,400 --> 00:34:48,960 a simple decision for me and I'm happy to be a part of it, 642 00:34:49,159 --> 00:34:52,280 Ocean's first customer, Barefoot Mining, said the following via 643 00:34:52,280 --> 00:34:54,920 its Co founder and CEO, Bob Burnett. 644 00:34:54,920 --> 00:34:58,280 In my opinion, this is the most significant new Company 645 00:34:58,640 --> 00:35:01,720 Announcement in the Bitcoin world over the past few years. 646 00:35:01,720 --> 00:35:04,680 A new pool will bring new features and some badly needed 647 00:35:04,680 --> 00:35:08,320 diversity to the mining world. And of course, they made their 648 00:35:08,320 --> 00:35:11,440 announcement at the future. Bitcoin Mining Conference and 649 00:35:11,440 --> 00:35:14,640 here you guys can go check out all of the you know the nitty 650 00:35:14,640 --> 00:35:18,440 gritty on ocean dot XYZ. But as you can see Bitcoin 651 00:35:18,440 --> 00:35:21,440 mining as it was meant to be. Ocean is a new type of mining 652 00:35:21,440 --> 00:35:24,960 pool on a mission to radically decentralized Bitcoin mining. 653 00:35:24,960 --> 00:35:27,960 And a quote from Luke. Bitcoin is no longer censorship 654 00:35:27,960 --> 00:35:30,560 resistant and mining centralization endangers its 655 00:35:30,560 --> 00:35:33,360 security too. It's time to fix that. 656 00:35:33,600 --> 00:35:36,800 You can see it is a rebrand of an old mining pool called 657 00:35:36,800 --> 00:35:39,440 Allegius. I believe it is non custodial. 658 00:35:39,520 --> 00:35:41,440 It is transparent. It is permissionless. 659 00:35:42,200 --> 00:35:44,320 And I do have some notes here for you guys. 660 00:35:44,320 --> 00:35:48,360 So you know, I think this is one of those moments there. 661 00:35:48,520 --> 00:35:50,920 There is some contention on Twitter right now. 662 00:35:50,920 --> 00:35:52,720 You know, people are saying maybe this is just some 663 00:35:52,720 --> 00:35:55,840 marketing like, oh, decentralized mining pool or 664 00:35:55,840 --> 00:35:58,600 isn't mining pools decentralized in general? 665 00:35:58,760 --> 00:36:01,440 Well, as you can see, no longer do you have to trust. 666 00:36:01,440 --> 00:36:04,040 And here let me pull this back up for you guys. 667 00:36:04,280 --> 00:36:06,760 No longer do you have to trust just these. 668 00:36:07,440 --> 00:36:12,800 Minings operators of these pools here you can now basically 669 00:36:12,800 --> 00:36:15,480 construct blocks by yourself and you can see essentially what is 670 00:36:15,480 --> 00:36:19,600 123-4678 about what 12 to 16 pool. 671 00:36:20,200 --> 00:36:25,160 Centralized operators are kind of in in in many ways like the 672 00:36:25,160 --> 00:36:29,640 cantion you know controllers of what gets put into a block. 673 00:36:29,640 --> 00:36:32,560 Well, now with oceans and also demands in general. 674 00:36:34,040 --> 00:36:38,240 Now as a as a home miner, as a as a pleb miner, you have a lot 675 00:36:38,240 --> 00:36:40,720 more flexibility and more control of what transactions get 676 00:36:40,720 --> 00:36:44,560 put to into a block. And also you know you're you're 677 00:36:44,560 --> 00:36:48,880 going to get rewarded for every single hash you you put in to 678 00:36:48,880 --> 00:36:51,440 the network from whatever ASICS you have. 679 00:36:51,600 --> 00:36:55,880 You will be paid out directly from a Coinbase transaction and 680 00:36:55,880 --> 00:36:59,080 there's zero fees for now, which is obviously incentive for you 681 00:36:59,080 --> 00:37:02,000 guys at home. No KYC, you just need to add an 682 00:37:02,000 --> 00:37:03,960 address and point your ASIC to the ocean. 683 00:37:04,080 --> 00:37:06,120 Pool. It's pretty much completely 684 00:37:06,120 --> 00:37:08,080 permissionless. It's literally all you need is 685 00:37:08,080 --> 00:37:12,200 an address, and you don't have to rely on pool operators being 686 00:37:12,200 --> 00:37:14,360 honest. Now you can construct a box for 687 00:37:14,360 --> 00:37:18,480 yourself and also. There will be opportunities for 688 00:37:18,480 --> 00:37:21,960 small miners to be paid out via Lightning, which I would say is 689 00:37:21,960 --> 00:37:24,560 also super bullish. So I think this changes the 690 00:37:24,560 --> 00:37:27,720 landscape for not only smaller miners but larger miners. 691 00:37:27,720 --> 00:37:32,120 And I think this is huge for just further decentralizing the 692 00:37:32,120 --> 00:37:34,560 Bitcoin network. There is so much contention out 693 00:37:34,560 --> 00:37:38,040 there, so much mining flood that like oh, with people that don't 694 00:37:38,040 --> 00:37:40,840 understand what's going on that oh, Bitcoin mining hash rate has 695 00:37:40,840 --> 00:37:43,640 been centralized. There's only 12 miners out there 696 00:37:43,800 --> 00:37:45,920 when they're pointing at these pool operators. 697 00:37:46,360 --> 00:37:49,440 Which you know, like maybe they're kind of right. 698 00:37:49,440 --> 00:37:52,520 There is 12 operators that do control these mining pools. 699 00:37:52,520 --> 00:37:58,120 But hash rate, you know if you have hash rate, it doesn't mean 700 00:37:58,200 --> 00:38:01,840 that you are controlling the network like first people don't 701 00:38:01,840 --> 00:38:04,560 control the hash rate if you are the pool operators. 702 00:38:05,120 --> 00:38:08,120 And now you can pick up and go. That's the beauty of Bitcoin 703 00:38:08,120 --> 00:38:11,040 miners in general that hey, if you don't like what the pool 704 00:38:11,040 --> 00:38:15,200 operators are doing, either you just take it or you move to a 705 00:38:15,200 --> 00:38:18,200 different pool. Well now with oceans you have 706 00:38:18,200 --> 00:38:21,160 direct access, you have a lot more flexibility on what gets 707 00:38:21,160 --> 00:38:24,920 put into transactions. And of course I I would just say 708 00:38:24,920 --> 00:38:28,320 that this is further. Just decentralizing the Bitcoin 709 00:38:28,320 --> 00:38:31,880 network, making sure that hash rate is decentralized and making 710 00:38:31,880 --> 00:38:34,960 sure that there isn't just a small group of people that 711 00:38:34,960 --> 00:38:37,800 control what gets into the Bitcoin network. 712 00:38:38,040 --> 00:38:40,560 Now of course guys, I'm giving you the high level overview of 713 00:38:40,560 --> 00:38:42,560 this because there is a lot of nitty gritty. 714 00:38:42,560 --> 00:38:45,640 I would definitely recommend you go check out Stephan Libero with 715 00:38:45,640 --> 00:38:47,600 Bitcoin Mechanic. He does a great breakdown of 716 00:38:47,600 --> 00:38:50,520 this. Go check out Ocean dot XYZ or 717 00:38:50,520 --> 00:38:53,520 even watch the announcement at the Future of Bitcoin Mining 718 00:38:53,520 --> 00:38:56,720 conference of Luke Dash and. Jack Dorsey. 719 00:38:57,360 --> 00:39:01,400 But I would just say that this bear market has been absolutely 720 00:39:01,400 --> 00:39:04,560 bullish for Bitcoin in general. Bitcoiners are building and you 721 00:39:04,560 --> 00:39:06,840 just love to see it and it's really setting up for a perfect 722 00:39:06,840 --> 00:39:12,720 storm moving into 2024 and 2025. All right, there's my ADIQ high 723 00:39:12,720 --> 00:39:16,200 level view of this. So Daniel, let's get your take 724 00:39:16,200 --> 00:39:18,280 on this. What was your first thoughts 725 00:39:18,280 --> 00:39:22,320 when you heard this, and did you get time to get into the nitty 726 00:39:22,320 --> 00:39:26,240 gritties? Well, yeah, just, yeah, it's all 727 00:39:26,240 --> 00:39:28,520 good news and I'm happy to hear it again. 728 00:39:28,520 --> 00:39:33,320 I don't, I don't like to see, you know, two pools over 51%, 729 00:39:34,200 --> 00:39:37,640 you know, even though, again, if there's there's only so much 730 00:39:37,640 --> 00:39:40,440 that can be done with a 51% attack, right, They can't, they 731 00:39:40,440 --> 00:39:43,800 can't steal your bitcoins, but they can cause problems for the 732 00:39:43,800 --> 00:39:46,280 network overall. And I don't want to, you know, 733 00:39:46,280 --> 00:39:49,520 think that, you know, one phone call could potentially, you 734 00:39:49,560 --> 00:39:52,160 know, lead to coordination between pools and cause trouble 735 00:39:52,160 --> 00:39:54,400 for Bitcoin. So it's always great to see 736 00:39:54,640 --> 00:39:57,080 anything that means more decentralization, new mining 737 00:39:57,080 --> 00:40:01,560 pools, stratum V2, giving individual miners more control 738 00:40:01,560 --> 00:40:05,720 within the pool, but also just hash rate can and can and does 739 00:40:05,720 --> 00:40:09,800 move very quickly between pools. So even though they're right, a 740 00:40:09,800 --> 00:40:12,800 pool shows, hey, you know that it's got 2530%. 741 00:40:13,080 --> 00:40:15,880 The question is right, how much of that hash rate is under their 742 00:40:15,880 --> 00:40:20,320 own control, and how much of it is external and can move pretty 743 00:40:20,320 --> 00:40:23,040 much immediately? There was a mining pool that I 744 00:40:23,040 --> 00:40:27,320 believe ran into some financial issues last year and you could 745 00:40:27,320 --> 00:40:30,280 see as soon as that was, as soon as that was clear, that the the 746 00:40:30,280 --> 00:40:34,560 payouts were interrupted to minors, 40% of the hash rate 747 00:40:34,560 --> 00:40:36,320 evaporated pretty much immediately. 748 00:40:37,320 --> 00:40:41,000 And actually, yeah, if you see the statistics on ocean dot XYZ, 749 00:40:41,160 --> 00:40:44,840 you can see that their hash rate since the announcement is just, 750 00:40:45,200 --> 00:40:50,120 you know, skyrocketing, right. So it's great that miners can 751 00:40:50,120 --> 00:40:53,920 redirect at hash rate as necessary if they disagree with 752 00:40:53,920 --> 00:40:57,600 saying a pool is doing or you know, a pool isn't in some way 753 00:40:57,960 --> 00:41:02,200 you know, malicious or so that that really helps act as a check 754 00:41:02,200 --> 00:41:05,120 on that. So yeah, I've been excited about 755 00:41:05,120 --> 00:41:08,280 Stratum V2 for a while. Obviously it's been, it's been 756 00:41:08,280 --> 00:41:11,960 years of work to build this and not only, right. 757 00:41:11,960 --> 00:41:16,320 Yeah, there you go. Not only does that help in terms 758 00:41:16,320 --> 00:41:20,960 of reducing the power of the mining pools but it also means 759 00:41:20,960 --> 00:41:23,600 more bandwidth efficient. It prevents like man in the 760 00:41:23,600 --> 00:41:27,160 middle attacks against minors if someone's trying to steal their 761 00:41:27,160 --> 00:41:29,720 hash rate for example. So there's a whole host of 762 00:41:30,360 --> 00:41:32,720 benefits in there. So I think that will help you 763 00:41:32,720 --> 00:41:35,400 know provide incentive for the pools to adopt it And also the 764 00:41:35,400 --> 00:41:38,480 pools have to compete with each other for external hash rate. 765 00:41:38,840 --> 00:41:42,640 So staying there in stratum B2, it is, you know, means they're 766 00:41:42,640 --> 00:41:45,160 on the latest standard and it also is a is a nice 767 00:41:45,160 --> 00:41:49,200 differentiator and shows that they're I think good actors for 768 00:41:49,200 --> 00:41:52,680 the network. I also just want to appreciate, 769 00:41:52,880 --> 00:41:56,200 you know, say say how much I appreciate Luke's contributions. 770 00:41:56,840 --> 00:42:00,240 You know, there's only a handful of people that that are 771 00:42:00,240 --> 00:42:02,720 technical that have been contributing a lot since like 772 00:42:02,720 --> 00:42:07,200 that that time period, you know, that he started like 2010 and a 773 00:42:07,280 --> 00:42:10,320 lot of other people have you know, burned out or or left or 774 00:42:10,600 --> 00:42:13,800 rage quit and so on. So to to see someone 775 00:42:13,920 --> 00:42:18,040 contributing you know for now well over a decade from the 776 00:42:18,040 --> 00:42:20,240 early days to the present is is quite impressive. 777 00:42:21,280 --> 00:42:26,160 Also fun fact St. Eligius is the patron St. of 778 00:42:26,160 --> 00:42:30,720 coins, so it's not a not a random name for the for the 779 00:42:30,720 --> 00:42:34,400 original name of the pool and the Mummolin however you 780 00:42:34,400 --> 00:42:38,240 pronounce that is actually a St. that was the successor to 781 00:42:38,400 --> 00:42:40,840 Eligius in in his role as Bishop. 782 00:42:41,880 --> 00:42:45,480 So just little Easter egg there. Interesting. 783 00:42:45,680 --> 00:42:48,800 Luke Dash Junior doesn't disappoint with the naming of 784 00:42:48,800 --> 00:42:51,000 his company. Very, very true to form. 785 00:42:51,000 --> 00:42:54,880 And yeah, just to comment on Luke, I I would say he's one of 786 00:42:54,880 --> 00:42:58,960 the true O GS of Bitcoin and you know he's not one of these guys 787 00:42:59,400 --> 00:43:01,880 that's more like me that is just always bullet hearted. 788 00:43:01,880 --> 00:43:05,160 He is very critical of a lot of stuff going on in Bitcoin. 789 00:43:05,160 --> 00:43:08,760 So to see him be at the helm of this, I think it's absolutely 790 00:43:08,760 --> 00:43:12,640 not only just bullish, but just like a a beautiful 791 00:43:12,640 --> 00:43:15,120 synchronicity. Moving forward and and truly 792 00:43:15,120 --> 00:43:19,080 will be a bulwark for the Bitcoin mining space in general. 793 00:43:19,080 --> 00:43:21,640 And let me answer one of these questions right quick, Roman, 794 00:43:21,640 --> 00:43:24,040 yes, the pool is already operational. 795 00:43:24,040 --> 00:43:30,240 So you can, you can put your hash rate to oceans today if you 796 00:43:30,240 --> 00:43:33,120 want to, if you have a six out there, All right. 797 00:43:33,120 --> 00:43:36,120 So I know we're getting technical here today, but Nico 798 00:43:36,120 --> 00:43:40,560 was a miner, so maybe you do have some, some views on this. 799 00:43:40,560 --> 00:43:45,720 What's your thoughts on this? So this is definitely more his 800 00:43:45,720 --> 00:43:50,320 lane than it is mine. I don't know much about hash, 801 00:43:50,360 --> 00:43:52,920 hashing, hashing, Oh my God, mining. 802 00:43:53,160 --> 00:43:57,120 But I do know. Obviously the decentralization 803 00:43:57,120 --> 00:43:59,320 is good. As you were explaining it, I 804 00:43:59,320 --> 00:44:00,880 understood. I did. 805 00:44:00,880 --> 00:44:04,280 First of all, I was today, years old when I learned about what a 806 00:44:04,280 --> 00:44:07,880 mining pool was. I had no idea that different 807 00:44:07,880 --> 00:44:12,160 miners could band together to censor people's payments. 808 00:44:12,160 --> 00:44:14,120 I had. Literally no idea that that 809 00:44:14,120 --> 00:44:20,240 could even happen. So it's it's really good that, 810 00:44:20,240 --> 00:44:25,320 you know, the base foundation of Bitcoin is decentralization. 811 00:44:25,320 --> 00:44:28,880 Because if it weren't for that, then solutions like this 812 00:44:28,880 --> 00:44:32,520 wouldn't be possible. If this was a shit coin where it 813 00:44:32,520 --> 00:44:36,880 was controlled by a company or an individual or you know, a a a 814 00:44:36,880 --> 00:44:40,440 couple of people, then you're already starting off wrong. 815 00:44:40,440 --> 00:44:43,720 But. Bitcoin is established in such a 816 00:44:43,720 --> 00:44:47,120 way that you can create solutions like this. 817 00:44:47,120 --> 00:44:53,840 And it seems that no matter which way Bitcoin gets attacked, 818 00:44:54,280 --> 00:44:57,560 they're they always find a way. And I think it's interesting 819 00:44:57,800 --> 00:45:01,800 that they named it ocean, because the ocean is very fluid, 820 00:45:01,960 --> 00:45:06,000 but it also always finds a way to get through rock, so. 821 00:45:06,720 --> 00:45:09,040 Yeah, I mean, I I don't have many thoughts on it. 822 00:45:09,040 --> 00:45:11,600 I think decentralization is always good. 823 00:45:11,920 --> 00:45:17,400 And I and I also, I want to give a a shout out to Bob Burnett, 824 00:45:17,400 --> 00:45:20,960 'cause I love that man. So anything that he's involved 825 00:45:20,960 --> 00:45:25,320 in, I love. Let's go love it, love it. 826 00:45:25,320 --> 00:45:27,640 OK. Guys, before we get into the 827 00:45:27,640 --> 00:45:29,680 culture, I think we're going to have a good conversation in the 828 00:45:29,680 --> 00:45:31,640 culture. Shouts out to the boys over at 829 00:45:31,640 --> 00:45:32,920 Kaboom Racks. Look, we're talking about 830 00:45:32,920 --> 00:45:35,360 mining. So if you have been thinking 831 00:45:35,360 --> 00:45:37,240 about getting yourself some a six, go to over to 832 00:45:37,240 --> 00:45:42,000 kaboomracks.com, get yourself in touch with my boy Alex over 833 00:45:42,000 --> 00:45:44,480 there. He will probably convince you 834 00:45:44,480 --> 00:45:47,960 not to buy a six, but if you do want to go to Kaboom Racks, buy 835 00:45:47,960 --> 00:45:53,120 a six there, sell your A6 to them, and they're also have a a 836 00:45:53,120 --> 00:45:56,320 hosting program that they have just released a couple of. 837 00:45:56,400 --> 00:46:00,200 Months ago, So fully endorsed the boys over at Kaboom Racks. 838 00:46:00,200 --> 00:46:02,240 I think they are one of the best in the business. 839 00:46:02,240 --> 00:46:05,800 So let's get into the news because I'm super excited for 840 00:46:05,800 --> 00:46:08,640 this conversation with Daniel. Or rather culture. 841 00:46:08,640 --> 00:46:15,900 Sorry the. Daily Culture. 842 00:46:16,840 --> 00:46:20,840 Brought to you by Swan bitcoin.com Swan is the best way 843 00:46:20,840 --> 00:46:24,160 to build your Bitcoin stack with automated Bitcoin savings plans 844 00:46:24,160 --> 00:46:28,920 and instant purchases serving clients of any size from $10 to 845 00:46:28,920 --> 00:46:31,600 $10 million. We love Swan because they 846 00:46:31,600 --> 00:46:35,160 incentivize self custody and dollar cost averaging. 847 00:46:35,280 --> 00:46:39,320 What are you waiting for? Visit swanbitcoin.com today. 848 00:46:40,200 --> 00:46:42,440 All right, well, you guys know the culture. 849 00:46:42,600 --> 00:46:45,160 You know what we like to do with the culture And Daniel. 850 00:46:45,960 --> 00:46:48,600 Not to put you on the spot and you told me in the IT would be 851 00:46:48,600 --> 00:46:52,640 the pre show that we don't want to get too into the details of 852 00:46:52,640 --> 00:46:54,880 your rabbit hole story. But people love. 853 00:46:55,080 --> 00:46:55,880 So happy to. Yeah. 854 00:46:55,880 --> 00:46:56,360 Yeah. I know. 855 00:46:56,360 --> 00:46:57,240 I know. Everyone wants to. 856 00:46:57,240 --> 00:46:58,360 Everyone wants to ask. Right. 857 00:46:59,800 --> 00:47:01,400 So. So. 858 00:47:01,400 --> 00:47:03,440 So I know. You know I go to you know 859 00:47:03,440 --> 00:47:07,040 Bitcoin conferences Bitcoin meet ups bit devs and people ask oh 860 00:47:07,040 --> 00:47:10,120 you know how many years ago did you did you first hear about 861 00:47:10,120 --> 00:47:16,680 Bitcoin And you know, which is a good question but what I started 862 00:47:16,680 --> 00:47:19,080 asking me was, you know how many years were you waiting for 863 00:47:19,080 --> 00:47:20,920 Bitcoin before you heard about it. 864 00:47:21,440 --> 00:47:23,040 Right. So for for me this was something 865 00:47:23,040 --> 00:47:26,200 that I, you know, I was waiting for somebody to build it for a 866 00:47:26,200 --> 00:47:29,280 long time and I wasn't entirely sure it was possible. 867 00:47:29,280 --> 00:47:31,440 And then when I first heard about Bitcoin I was like OK 868 00:47:31,480 --> 00:47:34,080 that's that's pretty neat you know. 869 00:47:34,080 --> 00:47:36,600 But who knows, right. It's just it's just a wild 870 00:47:36,600 --> 00:47:40,280 experiment and you know have to have to see where it goes. 871 00:47:40,280 --> 00:47:43,440 But I, you know, I immediately liked the idea, especially the 872 00:47:43,440 --> 00:47:49,200 idea of mining because if you if you've seen the the 19, the 873 00:47:49,200 --> 00:47:53,800 movie from the 90s, the James Bond movie, Goldeneye, the the 874 00:47:53,800 --> 00:47:57,200 bad guy has this this lair in the jungle that's just this 875 00:47:57,200 --> 00:47:59,720 giant like satellite dish basically. 876 00:47:59,960 --> 00:48:03,560 And that is a that is a real place in Arecibo, Puerto Rico. 877 00:48:03,560 --> 00:48:07,640 And a number of years ago, I went to to go see it, and they 878 00:48:07,640 --> 00:48:12,240 built that to try to be able to, you know, get signals from outer 879 00:48:12,240 --> 00:48:13,960 space. And they were getting all this 880 00:48:13,960 --> 00:48:17,320 data and they just simply couldn't process it, right? 881 00:48:17,320 --> 00:48:20,800 They they were getting so much data from outer space, all these 882 00:48:20,920 --> 00:48:25,240 these radio signals, and they didn't have the supercomputers 883 00:48:25,240 --> 00:48:27,840 that could actually look to see if they're repeating patterns 884 00:48:27,840 --> 00:48:30,160 that could suggest aliens trying to communicate with us. 885 00:48:30,640 --> 00:48:33,640 So in the 1990s, they came up with this idea. 886 00:48:33,640 --> 00:48:36,960 SETI at home Search for extraterrestrial intelligence at 887 00:48:36,960 --> 00:48:40,480 home, where they would basically break that these data into 888 00:48:40,480 --> 00:48:43,520 chunks. And then enthusiasts where their 889 00:48:43,520 --> 00:48:46,480 computers at home could download each of these chunks and have 890 00:48:46,480 --> 00:48:49,360 their computer use its processing power to try to find 891 00:48:49,360 --> 00:48:51,960 aliens. So, you know, I I, when I heard 892 00:48:51,960 --> 00:48:53,040 about that, I was like, OK, cool. 893 00:48:53,040 --> 00:48:55,040 You know, I and the computer's not doing anything while I'm 894 00:48:55,040 --> 00:48:56,800 sleeping. And I can try to. 895 00:48:57,000 --> 00:48:59,760 I can try to find aliens. And, you know, unfortunately, I 896 00:48:59,760 --> 00:49:01,280 never found any aliens. Right. 897 00:49:01,280 --> 00:49:02,760 It would have been exciting, but whatever. 898 00:49:03,240 --> 00:49:05,640 But then I heard about Bitcoin. It's like, OK, yeah, I can 899 00:49:05,640 --> 00:49:09,240 actually just try to, you know, turn this, you know, electrical 900 00:49:09,240 --> 00:49:13,680 power into some kind of, you know, Internet currency and and 901 00:49:13,680 --> 00:49:16,640 see where this goes. And, you know, one point I had a 902 00:49:16,640 --> 00:49:20,640 few ASICS, you know, my apartment and I I had them going 903 00:49:20,640 --> 00:49:22,080 in the kitchen while I was sleeping. 904 00:49:22,080 --> 00:49:24,640 And then as soon as I woke up, I would unplug them all, move them 905 00:49:24,640 --> 00:49:27,760 over to the bedroom and plug them back in and close the door. 906 00:49:28,160 --> 00:49:31,760 And, you know, sounded like a couple hair dryers going. 907 00:49:31,760 --> 00:49:34,800 And you know I'm lucky there was nobody in the apartment with me 908 00:49:34,800 --> 00:49:38,320 at the time or they would have been very, very angry and they 909 00:49:38,320 --> 00:49:41,280 would be like what is this sound You know this is unbearable 910 00:49:41,600 --> 00:49:43,080 droning. And then they're like that's the 911 00:49:43,080 --> 00:49:47,360 sound of money being made. You know, so can't complain 912 00:49:47,360 --> 00:49:53,480 about it And you know, then then over time, you know I, I slowly, 913 00:49:53,720 --> 00:49:56,680 I slowly learn more And again, you know some of the, you know, 914 00:49:56,720 --> 00:50:00,200 we don't have Learning about Bitcoin back in the day was was 915 00:50:00,240 --> 00:50:02,240 definitely harder. There were less people there. 916 00:50:02,240 --> 00:50:04,480 We didn't have the kind of podcast and educational 917 00:50:04,480 --> 00:50:08,320 resources we have now and and it was just very, very easy to to 918 00:50:08,320 --> 00:50:11,600 lose Bitcoin as well. And you know, the the price goes 919 00:50:11,600 --> 00:50:13,920 down on a bear market and you think, well, that's it, It's 920 00:50:13,920 --> 00:50:17,640 over, you know. And in this, in this bear market 921 00:50:18,040 --> 00:50:20,160 it didn't feel like it's over, right. 922 00:50:20,480 --> 00:50:23,880 You can see some of these exchanges going under, some of 923 00:50:23,880 --> 00:50:27,120 these other lenders that overextend themselves, some 924 00:50:27,120 --> 00:50:28,720 miners that overextended themselves. 925 00:50:28,720 --> 00:50:31,000 And it's like, yeah, they they made a mistake. 926 00:50:31,880 --> 00:50:35,880 But Bitcoin is is definitely, definitely here to stay at this 927 00:50:35,880 --> 00:50:39,200 point and really on a pretty amazing trajectory. 928 00:50:40,040 --> 00:50:43,360 So it's been, it's been a really cool experience, you know, 929 00:50:43,360 --> 00:50:47,000 meeting all these interesting smart people in Bitcoin as well 930 00:50:47,000 --> 00:50:51,640 as trying to help regular people just get into Bitcoin, learn 931 00:50:51,640 --> 00:50:54,360 about it right. Because there's no one place to 932 00:50:54,360 --> 00:50:57,040 go, there's no company, there's no official website. 933 00:50:57,400 --> 00:51:01,280 So you kind of have to hope you find somebody to onboard you who 934 00:51:01,280 --> 00:51:05,280 is a, who is a real bitcoiner and will point you in the right 935 00:51:05,280 --> 00:51:09,360 direction. So people say to me, do you mind 936 00:51:09,360 --> 00:51:11,920 repeating yourself and I'm like, no, not to different people, 937 00:51:12,200 --> 00:51:13,600 only only to the same people, right. 938 00:51:13,600 --> 00:51:16,600 So it's always really exciting when they get someone new who 939 00:51:16,600 --> 00:51:19,280 actually wants to learn and and then they just see a click for 940 00:51:19,280 --> 00:51:20,720 them. Although sometimes we end up 941 00:51:20,880 --> 00:51:23,880 going down the mining rabbit hole for a long time because it 942 00:51:23,880 --> 00:51:26,800 is interesting. But you know, right now it is 943 00:51:26,800 --> 00:51:30,400 not really the best way for the average person to to try to get 944 00:51:30,400 --> 00:51:33,640 into Bitcoin, simply because it's it's become very, very 945 00:51:33,640 --> 00:51:37,240 competitive at this point. So unless you have that edge, 946 00:51:37,240 --> 00:51:39,560 right, unless you're getting free electricity or super cheap 947 00:51:39,560 --> 00:51:43,880 electricity, unless you actually need that heat already anyway to 948 00:51:43,880 --> 00:51:47,800 heat your pool or you know, hot tub or something, you know, your 949 00:51:47,800 --> 00:51:50,520 house or something. I mean, I like projects like Spa 950 00:51:50,520 --> 00:51:54,520 256, someone's heating their hot tub with a six and think it's 951 00:51:54,520 --> 00:51:58,280 extra satisfying to to know that that's how it's being warm. 952 00:51:59,320 --> 00:52:01,360 But generally, for most people, yeah, they're better off, as 953 00:52:01,360 --> 00:52:04,200 they say, Fiat mining, doing whatever it is they're actually 954 00:52:04,200 --> 00:52:06,520 good at, and then buying Bitcoin with it. 955 00:52:07,600 --> 00:52:10,880 Love it, love it. And we did kind of talk about 956 00:52:10,880 --> 00:52:13,600 earlier before the show you mentioned it kind of here. 957 00:52:14,920 --> 00:52:18,480 It's very. I I'd hate to say it's very easy 958 00:52:18,480 --> 00:52:22,000 to lose your Bitcoin, but if you don't do it properly, there is a 959 00:52:22,120 --> 00:52:24,960 real risk of losing your Bitcoin and someone that's been around 960 00:52:24,960 --> 00:52:27,560 for a long time. What would you recommend to 961 00:52:27,560 --> 00:52:29,080 someone new? What do you think is the best 962 00:52:29,080 --> 00:52:30,560 way for people to store their Bitcoin? 963 00:52:32,160 --> 00:52:34,480 It does depend on the person. It depends on the amount of 964 00:52:34,480 --> 00:52:37,600 Bitcoin, It depends on their level of technical proficiency 965 00:52:37,600 --> 00:52:38,800 and their and their budget, right? 966 00:52:38,800 --> 00:52:44,560 But, but certainly one good hardware wallet and a steel 967 00:52:44,560 --> 00:52:48,640 backup is a is a really good option for for a lot of people, 968 00:52:48,920 --> 00:52:52,400 right. There's it's becoming easier and 969 00:52:52,400 --> 00:52:56,600 more practical to do multi sig where you can actually have 970 00:52:56,600 --> 00:52:59,920 these essentially partial keys and then some of those keys 971 00:52:59,920 --> 00:53:02,480 could be held by you in different locations, could be 972 00:53:03,160 --> 00:53:06,160 held by friends or family, could be held by companies that are 973 00:53:06,160 --> 00:53:09,600 specializing in this, right. And as as that becomes more 974 00:53:09,600 --> 00:53:12,280 practical I think that will eventually become the default 975 00:53:12,800 --> 00:53:16,280 way to do it as it's both more secure and more forgiving when 976 00:53:16,280 --> 00:53:17,560 done properly. Right. 977 00:53:17,560 --> 00:53:21,520 But that's that's the key there And I've I've helped people who 978 00:53:21,520 --> 00:53:25,400 are new go through this process of just you know, creating their 979 00:53:25,960 --> 00:53:30,760 twelve seed words, write it down on a piece of paper, write you 980 00:53:30,760 --> 00:53:34,240 know use set up the hardware wallet And you would think that 981 00:53:34,240 --> 00:53:35,840 this is people think oh this is very easy. 982 00:53:36,040 --> 00:53:38,960 Yeah well people write down the words wrong. 983 00:53:39,040 --> 00:53:40,520 They just write down a different word. 984 00:53:40,520 --> 00:53:43,320 They misspell it. Their their handwriting's, you 985 00:53:43,360 --> 00:53:46,760 know, unreadable. Or they they write them out of 986 00:53:46,760 --> 00:53:49,520 order. Or they write them on a piece of 987 00:53:49,520 --> 00:53:52,240 paper, then take a picture and then put it on the cloud. 988 00:53:53,280 --> 00:53:56,760 And without necessarily realizing, you know, instead of 989 00:53:56,760 --> 00:53:59,080 them, OK, no, you you that you weren't supposed to do that. 990 00:53:59,080 --> 00:54:01,280 And they said, OK, I deleted it. Like, no, no, it's not enough to 991 00:54:01,280 --> 00:54:02,400 delete it. You're going to have to do the 992 00:54:02,400 --> 00:54:05,440 whole thing from the beginning again, right? 993 00:54:05,440 --> 00:54:08,560 These, these can never be on a general purpose Internet 994 00:54:08,560 --> 00:54:15,360 connected device. And yeah, so so we're we're 995 00:54:15,360 --> 00:54:17,760 getting there and the custody is getting better, right? 996 00:54:18,120 --> 00:54:21,240 Because again years ago there weren't, there wasn't 12 seed 997 00:54:21,240 --> 00:54:25,520 words you had to back up individual private keys to 998 00:54:25,520 --> 00:54:28,080 addresses. It was, it was definitely a mess 999 00:54:28,080 --> 00:54:29,720 and your backup would need to be updated. 1000 00:54:29,720 --> 00:54:31,600 Now it doesn't need to be updated. 1001 00:54:32,640 --> 00:54:36,760 I actually have a video made from a PowerPoint presentation 1002 00:54:36,760 --> 00:54:38,360 I've given called Losing Bitcoin. 1003 00:54:38,720 --> 00:54:42,560 And while I was making this, I kind of scared myself because I 1004 00:54:42,560 --> 00:54:46,480 ended up coming up with over 200 ways people can and have lost 1005 00:54:46,480 --> 00:54:48,720 Bitcoin. And you know, hate to say it, 1006 00:54:48,720 --> 00:54:53,000 but I've done at least five of them and that includes, you 1007 00:54:53,000 --> 00:54:56,920 know, swapping your Bitcoin for the next Bitcoin and then it 1008 00:54:56,920 --> 00:55:01,160 ceases to exist. You know that that includes, you 1009 00:55:01,160 --> 00:55:03,200 know, failing to do the backup properly. 1010 00:55:04,360 --> 00:55:09,960 And you know or or simply you know, you know, the computer, 1011 00:55:10,040 --> 00:55:13,800 computer or phone failing or just using one of the bad 1012 00:55:13,800 --> 00:55:16,760 wallets. Because often the the people who 1013 00:55:16,760 --> 00:55:19,760 are deep into Bitcoin or in culture or Bitcoin development, 1014 00:55:20,040 --> 00:55:24,040 they're not necessarily talking to regular people that much, 1015 00:55:24,040 --> 00:55:25,720 right? And it's it's great if they can, 1016 00:55:25,720 --> 00:55:28,840 because if you look at the wallets that regular people 1017 00:55:28,840 --> 00:55:32,320 actually use, those are the ones that series bitcoiners would 1018 00:55:32,520 --> 00:55:35,320 never recommend to you. So there's there's a big gap 1019 00:55:35,320 --> 00:55:40,200 here, right? And it's great to be able to 1020 00:55:40,200 --> 00:55:42,520 build a great tool, but then you actually have to get people to 1021 00:55:42,520 --> 00:55:46,720 use it to, or it doesn't have the real benefit that it 1022 00:55:46,720 --> 00:55:49,920 potentially could. Yeah, I love it 100%. 1023 00:55:49,920 --> 00:55:51,880 And. And the part where you said most 1024 00:55:51,880 --> 00:55:54,440 bitcoiners don't talk to normal people is that I think that 1025 00:55:54,440 --> 00:55:56,880 might be like the truest statement about the whole thing 1026 00:55:56,880 --> 00:55:58,760 that you just said, but great insight. 1027 00:55:58,760 --> 00:56:03,640 And actually on that point, what is your, you know, standard, I 1028 00:56:03,640 --> 00:56:07,320 don't know, I guess, pitch for Bitcoin to an average everyday 1029 00:56:07,320 --> 00:56:08,520 person. If you just meet someone and 1030 00:56:08,520 --> 00:56:10,160 they're like, what is this Bitcoin thing? 1031 00:56:10,160 --> 00:56:13,720 What do you usually tell them? Yeah, people I've, I've had 1032 00:56:13,720 --> 00:56:15,680 that. I've gone to parties where 1033 00:56:15,680 --> 00:56:19,040 everybody was a normal person and they'll say to me, hey, oh 1034 00:56:19,040 --> 00:56:20,680 you're into Bitcoin. Can you explain that to me in 5 1035 00:56:20,680 --> 00:56:24,120 minutes? And I'm like, no, like I can 1036 00:56:24,120 --> 00:56:27,120 explain to you in 5 minutes why I can't explain it in 5 minutes, 1037 00:56:27,120 --> 00:56:29,640 right? I I have a, you know, 3 hour, 1038 00:56:29,640 --> 00:56:31,680 you know, Bitcoin 101 presentation, right? 1039 00:56:31,680 --> 00:56:37,920 Not only scratches the surface, there's basically Bitcoin is at 1040 00:56:37,920 --> 00:56:41,440 the intersection of a lot of topics that you could major in, 1041 00:56:41,720 --> 00:56:43,760 right? So you you can spend as much 1042 00:56:43,760 --> 00:56:45,120 time as you want learning about it. 1043 00:56:46,120 --> 00:56:49,200 But the most important point I try to get across to people is 1044 00:56:49,200 --> 00:56:52,840 that Bitcoin is worth taking the time to learn about and to 1045 00:56:52,840 --> 00:56:55,400 recognize that there is more to it than that, that they're not 1046 00:56:55,400 --> 00:56:59,640 going to, you know, have all the pieces figured out in 5 minutes 1047 00:56:59,640 --> 00:57:05,880 or in 30 minutes. So, but what I do try to do is I 1048 00:57:05,880 --> 00:57:07,920 don't give a generic pitch for Bitcoin. 1049 00:57:09,320 --> 00:57:12,080 I try to figure out, well, how is this person? 1050 00:57:12,240 --> 00:57:14,240 How do they connect with Bitcoin, right? 1051 00:57:14,320 --> 00:57:17,680 Do they have family in another country that they send money 1052 00:57:17,680 --> 00:57:20,840 back to? Do they travel all over the 1053 00:57:20,840 --> 00:57:22,000 world? Right. 1054 00:57:23,600 --> 00:57:27,720 Do they, you know, trust the Federal Reserve's monetary 1055 00:57:27,720 --> 00:57:29,880 policy? Have they noticed things getting 1056 00:57:29,880 --> 00:57:33,920 more expensive and did why do they think that might be right? 1057 00:57:33,920 --> 00:57:36,480 So for different people, it appeals to them in a different 1058 00:57:36,480 --> 00:57:38,240 way, right? There's people who, you know, 1059 00:57:38,240 --> 00:57:42,200 love open source software. So I explained to them how 1060 00:57:42,200 --> 00:57:44,960 Bitcoin is open source software, right? 1061 00:57:44,960 --> 00:57:47,720 And for other people, they know Bitcoin is like a community. 1062 00:57:47,720 --> 00:57:50,000 It's a fun club. They get to meet other 1063 00:57:50,000 --> 00:57:53,360 Bitcoiners, right? Or again, if somebody you know 1064 00:57:53,600 --> 00:57:57,080 met people, where they, they had a warehouse where they're, you 1065 00:57:57,080 --> 00:57:59,480 know, storing clothing and they realize that they're, they're 1066 00:57:59,480 --> 00:58:02,200 paying a lot of money for the warehouse and that includes all 1067 00:58:02,200 --> 00:58:03,840 this electricity that they aren't using. 1068 00:58:05,240 --> 00:58:08,360 So for some people, it's it's just, it's just simply a tool. 1069 00:58:08,360 --> 00:58:09,880 And for other people, it's a lot more than that. 1070 00:58:10,440 --> 00:58:14,160 I've been working on a a book for quite some time now, which 1071 00:58:14,160 --> 00:58:17,400 is actually getting into that how different people see Bitcoin 1072 00:58:17,800 --> 00:58:21,800 as different things, the the different metaphors for Bitcoin, 1073 00:58:22,160 --> 00:58:25,280 but ultimately the metaphors are, you know what Bitcoin 1074 00:58:25,280 --> 00:58:27,240 really is. Love it. 1075 00:58:27,240 --> 00:58:30,880 I constantly tell people the same thing and I stole it from 1076 00:58:31,560 --> 00:58:36,320 Dale Carnegies book How to Win Friends and or How to What's It 1077 00:58:36,320 --> 00:58:38,200 How? To How to How to make friends 1078 00:58:38,200 --> 00:58:39,840 and influence people. Yeah, yeah. 1079 00:58:39,840 --> 00:58:42,440 And it's a simple meme that I say it all the time, you know, 1080 00:58:42,440 --> 00:58:44,720 it's like bait, the hook for the fish you're trying to catch and 1081 00:58:44,760 --> 00:58:46,720 and people always. Kind of push back. 1082 00:58:46,720 --> 00:58:49,480 They're like oh so you're, you know you're you're doing some 1083 00:58:49,480 --> 00:58:51,040 shit coin marketing. I'm like, no guys. 1084 00:58:51,040 --> 00:58:54,280 It's about you know, asking people certain questions so you 1085 00:58:54,280 --> 00:58:57,840 know where they're coming from. And then obviously Bitcoin fixes 1086 00:58:57,840 --> 00:59:00,200 it all. So you can always angle it into 1087 00:59:00,200 --> 00:59:02,160 a way that people are interested in. 1088 00:59:02,160 --> 00:59:03,920 And and I think few people do that. 1089 00:59:03,920 --> 00:59:07,320 They always have like this, you know, I don't know, verbal 1090 00:59:07,320 --> 00:59:10,480 diarrhea, shill about Bitcoin. And they just bombard people 1091 00:59:10,480 --> 00:59:12,280 with so much stuff that they're just like. 1092 00:59:12,720 --> 00:59:14,800 The person they're talking to, their eyes glazed over, and 1093 00:59:14,800 --> 00:59:16,320 they're like, yeah, that sounds cool, bro. 1094 00:59:16,720 --> 00:59:18,520 Did you hear about the game last night? 1095 00:59:18,520 --> 00:59:21,760 And it's just like guys just work on the pitch a little bit, 1096 00:59:21,800 --> 00:59:24,000 tailor it a little bit to the people you're talking to, and 1097 00:59:24,000 --> 00:59:27,600 it'd be much more effective. Well, that's why the CTF thing 1098 00:59:27,600 --> 00:59:30,120 is so good. It's such a positive move 1099 00:59:30,120 --> 00:59:34,200 because it's doing that heavy lifting for a lot of us, a lot 1100 00:59:34,200 --> 00:59:37,240 of people that are like, oh, Mer stocks, Mer bonds, Mer, 1101 00:59:37,240 --> 00:59:38,120 whatever. Like. 1102 00:59:38,520 --> 00:59:41,960 They're gonna, they're gonna feel like, oh, like Bitcoin, oh, 1103 00:59:42,200 --> 00:59:44,360 somebody else can buy it for me. Somebody can make it 1104 00:59:44,360 --> 00:59:48,080 comfortable. I'm gonna buy this now and and 1105 00:59:48,080 --> 00:59:52,360 that's also why I wanna bring more women into Bitcoin more. 1106 00:59:53,000 --> 00:59:55,600 Like the fun, sexy cool that we're trying to bring into 1107 00:59:55,600 --> 00:59:58,120 Bitcoin. Because it's like Opti said, you 1108 00:59:58,120 --> 01:00:01,520 have to bait the the hook for the fish that you're going to 1109 01:00:01,520 --> 01:00:03,520 catch. And if you bring more women, 1110 01:00:03,520 --> 01:00:07,000 more men will come. If you make it fun, sexy, cool, 1111 01:00:07,000 --> 01:00:10,040 then like all the people who are into the sports ball games and 1112 01:00:10,040 --> 01:00:14,680 like going out on weekends and just, you know, doing stuff that 1113 01:00:14,680 --> 01:00:17,520 you know, bitcoiners are like, we're not thinking about because 1114 01:00:17,520 --> 01:00:19,480 we're thinking like on this level. 1115 01:00:20,760 --> 01:00:22,960 They'll they'll come and and do it too. 1116 01:00:23,720 --> 01:00:27,440 And yes, don't buy the ETF. Buy actual Bitcoin. 1117 01:00:27,440 --> 01:00:33,080 I repeat, buy actual Bitcoin. The ETF is marketing for the 1118 01:00:33,080 --> 01:00:35,720 normies. Let the normies do that stuff. 1119 01:00:35,720 --> 01:00:38,000 At the end of the day, it's going to benefit your bag too. 1120 01:00:38,040 --> 01:00:40,240 But don't do it. Don't do it. 1121 01:00:40,240 --> 01:00:43,560 If you're listening to this, buy it and take it into self 1122 01:00:43,560 --> 01:00:45,640 custody. Sophie, I think you just bake 1123 01:00:45,640 --> 01:00:48,280 the hook for the audience out there and you basically said, 1124 01:00:48,280 --> 01:00:50,720 guys, you're going to get girlfriends soon, so you'll be 1125 01:00:50,720 --> 01:00:53,040 good to go. All right. 1126 01:00:53,320 --> 01:00:56,320 I was interviewing these girls the other day while I was on the 1127 01:00:56,320 --> 01:00:57,800 interview. And I was like, how could we 1128 01:00:57,800 --> 01:01:01,640 make bitcoiners less annoying? And they're like, just give away 1129 01:01:01,640 --> 01:01:03,920 all your Bitcoin. Just give it to sugar Mamas. 1130 01:01:03,920 --> 01:01:07,720 Like, literally, like, like you should just give it to ma to to 1131 01:01:07,800 --> 01:01:09,560 to women. And because women deserve 1132 01:01:09,560 --> 01:01:12,120 everything. And I was like, OK, but will 1133 01:01:12,120 --> 01:01:15,080 that make you look into Bitcoin? Yeah, maybe. 1134 01:01:15,080 --> 01:01:17,200 Because then how am I going to spend the Bitcoin? 1135 01:01:17,520 --> 01:01:21,040 So like, there you know, there you go, everyone. 1136 01:01:21,160 --> 01:01:24,720 Everyone has their. You're definitely in Miami, so 1137 01:01:24,800 --> 01:01:29,480 let on that point, Daniel, you did mention that you are a part 1138 01:01:29,480 --> 01:01:33,360 of the Bitcoin Miami scene. You know Sophie and Nico, have 1139 01:01:33,360 --> 01:01:36,640 we, we talked about actually stream live from Bitcoin Grove. 1140 01:01:36,880 --> 01:01:39,880 You were mentioning that Miami has a bit devs as well. 1141 01:01:40,120 --> 01:01:42,640 So maybe what's your thoughts on the overall scene? 1142 01:01:42,640 --> 01:01:45,400 And I know you talk at them and you're a speaker sometime. 1143 01:01:45,400 --> 01:01:50,680 So how's it going down there? Oh, I think you're muted. 1144 01:01:52,320 --> 01:01:55,600 Yeah, it's incredible to see the the progress that's happened in 1145 01:01:55,600 --> 01:01:59,600 the last year and a half because Miami again had had this 1146 01:01:59,600 --> 01:02:03,800 reputation of just, well, you know, scammers of people who who 1147 01:02:03,800 --> 01:02:06,760 don't really work or, you know, post on Instagram or whatever. 1148 01:02:07,080 --> 01:02:11,120 And and then naturally there's a whole, you know, crypto scene 1149 01:02:11,120 --> 01:02:14,480 caught on there and it was harder for Bitcoin to really 1150 01:02:14,480 --> 01:02:16,840 differentiate itself. And I, I think in the last year 1151 01:02:16,840 --> 01:02:19,520 and a half. We've seen that the the Bitcoin 1152 01:02:19,560 --> 01:02:26,200 specific community has emerged now and for example, you know, 1153 01:02:26,200 --> 01:02:32,040 Pram has been doing a Bitcoin brunch every Sunday for for 1154 01:02:32,040 --> 01:02:36,280 basically I want to say maybe two years now, which has been a 1155 01:02:36,280 --> 01:02:39,600 great way for people to just come by and just casually chat 1156 01:02:39,600 --> 01:02:41,880 with other people about Bitcoin and related topics. 1157 01:02:42,920 --> 01:02:46,400 And again, Ross and Liron and others have been. 1158 01:02:47,560 --> 01:02:52,080 Building the Bitcoin Grove with like a Co working space as well 1159 01:02:52,080 --> 01:02:56,840 as a place to host other Bitcoin events and maybe incubate 1160 01:02:56,840 --> 01:03:03,440 Bitcoin businesses and and also Ross started the Miami chapter 1161 01:03:03,440 --> 01:03:07,160 of bit devs and I've been helping Co host that that's once 1162 01:03:07,160 --> 01:03:09,600 a month where it's it's following the format of the 1163 01:03:09,600 --> 01:03:13,360 original the the New York bit devs where. 1164 01:03:13,720 --> 01:03:18,200 You know spend like 2 hours going over the technical details 1165 01:03:18,200 --> 01:03:21,120 and updates in in the Bitcoin space with sometimes the people 1166 01:03:21,120 --> 01:03:23,680 giving presentations on something cool that they're 1167 01:03:23,680 --> 01:03:28,520 building or working on. And the unfortunately for that 1168 01:03:28,520 --> 01:03:31,760 you know it's hard to promote it because the following the New 1169 01:03:31,760 --> 01:03:35,440 York bit desk convention, you're not supposed to take pictures or 1170 01:03:35,440 --> 01:03:39,400 record it. So you know, but it has its own 1171 01:03:39,400 --> 01:03:42,040 way of attracting the right people to it, right, Because 1172 01:03:42,040 --> 01:03:45,520 it's more technical. And you know certainly you know 1173 01:03:45,520 --> 01:03:47,640 some people want to come to it and some people don't. 1174 01:03:48,760 --> 01:03:51,200 It's been it's been pretty amazing to see how how big devs 1175 01:03:51,200 --> 01:03:54,880 is now basically spread all over the world even in some places 1176 01:03:54,880 --> 01:03:58,520 that don't have as as big a tech scene there's there's still, 1177 01:03:59,080 --> 01:04:01,560 there's still something happening there every month and 1178 01:04:01,560 --> 01:04:05,120 there's really really smart people coming together to learn 1179 01:04:05,120 --> 01:04:08,440 about that. I think for a for a lot of 1180 01:04:08,560 --> 01:04:10,040 people in general, they don't realize. 1181 01:04:11,080 --> 01:04:14,200 How much work is happening in Bitcoin how much innovation 1182 01:04:14,520 --> 01:04:18,560 there is unless you actually try to keep up with it then it's 1183 01:04:18,720 --> 01:04:22,120 it's overwhelming now you know certainly in the last year I've 1184 01:04:22,120 --> 01:04:28,240 been trying to edit down the topics to fit into two hours so 1185 01:04:28,240 --> 01:04:33,920 that's so so that's that and also yeah the the the city and 1186 01:04:33,920 --> 01:04:37,840 and the state has has been really I think supportive of 1187 01:04:38,040 --> 01:04:41,120 innovation. In tech in general and support 1188 01:04:41,120 --> 01:04:45,080 of a Bitcoin, the Bitcoin white paper is on the city of Miami's 1189 01:04:45,080 --> 01:04:48,080 website, so, so things like that. 1190 01:04:48,560 --> 01:04:51,080 I think it's on a it's on a really good trajectory. 1191 01:04:51,080 --> 01:04:54,080 And again, it's important for people who are new, especially 1192 01:04:54,080 --> 01:04:57,440 to have a physical place to go to, to talk to real bitcoiners 1193 01:04:57,440 --> 01:05:00,000 and learn that way. Love it. 1194 01:05:00,000 --> 01:05:02,760 Couldn't agree more and and shout out to Lauren, a good 1195 01:05:02,760 --> 01:05:05,160 friend of not only the show but us personally. 1196 01:05:05,160 --> 01:05:08,280 Love Lauren. All right, before we move on to 1197 01:05:08,280 --> 01:05:10,320 what everyone's waiting for, the meme review. 1198 01:05:10,320 --> 01:05:13,040 Daniel, is there any last two sets you would like to get 1199 01:05:13,040 --> 01:05:22,080 across to the audience? Well, yeah, yeah. 1200 01:05:22,080 --> 01:05:26,480 I I try to follow the the style of Satoshi that Satoshi had a 1201 01:05:26,480 --> 01:05:29,960 way of. Writing that was clear concise 1202 01:05:29,960 --> 01:05:34,520 and correct right He he wasn't wasting time with with people 1203 01:05:34,520 --> 01:05:37,400 but he also wasn't being rude to them either. 1204 01:05:37,400 --> 01:05:45,000 So I I do I do try to be to the point and and not not mean and 1205 01:05:46,120 --> 01:05:49,800 and that's all you know and and you know my DMS are open really 1206 01:05:49,800 --> 01:05:54,000 so happy to happy to talk to anyone whether they're trying to 1207 01:05:54,000 --> 01:05:56,960 learn or you know have a comment or or something else to say. 1208 01:05:58,080 --> 01:06:01,560 Love it, love it. Well, it's because of, I would 1209 01:06:01,560 --> 01:06:05,800 say, O GS like yourself that any of us even got a Bitcoin message 1210 01:06:05,800 --> 01:06:10,920 in the 1st place, so doing Satoshi's work for real. 1211 01:06:11,480 --> 01:06:13,880 All right, guys, let's get into the meme review, because that's 1212 01:06:13,880 --> 01:06:22,840 the only reason why all you guys are sitting here, The daily meme 1213 01:06:22,840 --> 01:06:28,720 review. All right guys, you know the 1214 01:06:28,720 --> 01:06:30,000 deal. This is the main review where 1215 01:06:30,000 --> 01:06:34,640 you guys tag me on Twitter at simply Bitcoin TV or drop them 1216 01:06:34,640 --> 01:06:40,080 in our Telegram group. T dot me slash simply owners 1217 01:06:40,080 --> 01:06:43,520 that hang out on Telegram. Make sure you at the very least 1218 01:06:43,520 --> 01:06:46,160 give me a noster link. I'll bring those on the show. 1219 01:06:47,200 --> 01:06:50,000 Specifically, give me a Twitter so I can give them their credit 1220 01:06:50,000 --> 01:06:52,520 for their memes so we're not just, you know, stealing memes. 1221 01:06:52,520 --> 01:06:55,000 Even though memes are supposed to be stolen and propagated, you 1222 01:06:55,000 --> 01:06:56,520 already know the deal. Tweets are the bullets. 1223 01:06:56,520 --> 01:06:59,360 Memes are the artillery. We are in an information war. 1224 01:06:59,600 --> 01:07:05,080 It's upon all of us individuals to continue to get the cause of 1225 01:07:05,080 --> 01:07:07,560 actions to people. Make sure they understand why we 1226 01:07:07,560 --> 01:07:09,200 Bitcoin. Make sure you ridicule the 1227 01:07:09,200 --> 01:07:11,400 corporate press. And of course, make some funnies 1228 01:07:11,400 --> 01:07:13,680 so your friends. Head stay in the game. 1229 01:07:13,680 --> 01:07:16,680 All right this first one I did get tagged on a different plan 1230 01:07:16,680 --> 01:07:19,320 Marcus mean but I wanted to put this one on because it just 1231 01:07:19,320 --> 01:07:22,440 seems so fitting and and actually after the conversation 1232 01:07:22,440 --> 01:07:23,880 with Daniel it's even more fitting. 1233 01:07:23,880 --> 01:07:27,280 I I think I'm like the little the little the little cub here 1234 01:07:27,280 --> 01:07:29,960 and Daniel is the actual full blown lion here. 1235 01:07:29,960 --> 01:07:32,920 But we got plan, Marcus, he goes hashtag Bitcoin makes you 1236 01:07:32,920 --> 01:07:35,760 stronger and we got a baby cub. We got Simba over here and it 1237 01:07:35,760 --> 01:07:37,640 goes 1 bear market and he's grown up. 1238 01:07:37,640 --> 01:07:40,080 He still looks tough. And then three bear markets in a 1239 01:07:40,080 --> 01:07:44,200 full blown Lion King over here. It it really does this, you 1240 01:07:44,200 --> 01:07:47,120 know, Bitcoin changes you. You don't change Bitcoin and the 1241 01:07:47,120 --> 01:07:50,000 more cycles you go on, the more hardened you are. 1242 01:07:50,360 --> 01:07:53,360 Can we peep the 2 bear markets? What that one? 1243 01:07:53,360 --> 01:07:57,600 That's like the awkward stage. Maybe that's me. 1244 01:07:57,600 --> 01:07:59,840 That one is. So good. 1245 01:07:59,840 --> 01:08:01,960 Oh, it's literally me. All right. 1246 01:08:01,960 --> 01:08:04,840 Next one is by Ben Jeshman. The bands are taking over 1247 01:08:04,840 --> 01:08:07,720 Bitcoin. Let's not let it happen. 1248 01:08:07,720 --> 01:08:09,160 And he has a totally other conversation. 1249 01:08:09,360 --> 01:08:11,760 Ben Jasmine goes and and you know go supporting him. 1250 01:08:11,760 --> 01:08:14,160 Penny Lane wine guys. If you want some wine made by 1251 01:08:14,160 --> 01:08:17,680 big corners Benz your man. He goes all caps, but who will 1252 01:08:17,680 --> 01:08:19,399 build the roads? I. 1253 01:08:19,880 --> 01:08:23,359 This one is like the funniest meme to me because I constantly 1254 01:08:23,359 --> 01:08:27,080 get the same same response but my roads. 1255 01:08:27,279 --> 01:08:31,200 Anyways, we got some founding fathers here and it goes give me 1256 01:08:31,200 --> 01:08:35,120 liberty or give me roads. It really feels like this is the 1257 01:08:35,120 --> 01:08:37,359 conversation you hear with everyone out there. 1258 01:08:37,359 --> 01:08:40,520 It's like wait, do you want freedom or do you want your 1259 01:08:40,520 --> 01:08:42,760 roads made? And it's always like guys, 1260 01:08:42,760 --> 01:08:46,359 someone will make the roads. Why is it always the roads? 1261 01:08:46,560 --> 01:08:47,800 Anyways? Ben, you should have put some 1262 01:08:47,800 --> 01:08:49,640 laser eyes on him. That would have made it perfect. 1263 01:08:49,880 --> 01:08:53,920 OK, the Bitcoin therapist. He goes, there's no second best. 1264 01:08:53,920 --> 01:08:57,279 And he goes hashtag BTC. And this one's hilarious. 1265 01:08:57,479 --> 01:08:58,960 This is literally going to be all you guys. 1266 01:08:58,960 --> 01:09:00,880 Someone said it's going to be hard not to be toxic. 1267 01:09:01,120 --> 01:09:03,760 Yeah, this is probably like the most toxic part about it when 1268 01:09:03,760 --> 01:09:06,560 you just start shilling it to everyone and your grandma. 1269 01:09:06,840 --> 01:09:09,279 Anyways, we got Leonardo DiCaprio here from Wall Street, 1270 01:09:09,399 --> 01:09:11,479 Wolf Wall Street. He goes when the bull market is 1271 01:09:11,479 --> 01:09:14,680 near and this is the scene when he's on the phone, you know, 1272 01:09:15,000 --> 01:09:16,960 flipping, flipping his penny stocks. 1273 01:09:16,960 --> 01:09:19,800 He goes, Listen, Grandma, this has huge upside potential. 1274 01:09:19,880 --> 01:09:21,920 You with very little downside risk. 1275 01:09:22,319 --> 01:09:25,680 Oh man. I man flashback to me shilling 1276 01:09:25,680 --> 01:09:29,479 Bitcoin extremely hard last bull run to my friends and I'm I'm 1277 01:09:29,479 --> 01:09:33,359 going to do my best not to come across like Leonardo DiCaprio 1278 01:09:33,359 --> 01:09:37,080 flipping penny stocks. OK next one is by Maxi Club 1279 01:09:37,080 --> 01:09:42,880 Nicos 591 Pro and we have a a turd in a suit here and it goes 1280 01:09:42,880 --> 01:09:45,160 shit corners and you can see here it goes short. 1281 01:09:45,160 --> 01:09:51,680 Expert this one all. All coiners are telling me. 1282 01:09:53,080 --> 01:10:00,440 Anyways guys, next meme is by sorry I got a text by Nico. 1283 01:10:01,080 --> 01:10:05,320 We have RDBTC and it goes Bitcoin having cycles don't 1284 01:10:05,320 --> 01:10:09,040 repeat themselves but they often rhyme and you can see the old 1285 01:10:09,040 --> 01:10:15,600 cycles 2012, 20/16/2020 and now and it's almost like we are 1286 01:10:15,600 --> 01:10:19,240 going. To repeat a cycle here. 1287 01:10:19,600 --> 01:10:22,360 So love to see it. Let's go. 1288 01:10:23,080 --> 01:10:26,920 All right, guys, that is the meme review. 1289 01:10:27,520 --> 01:10:29,920 Hold on. I guess Niko's telling me my mic 1290 01:10:29,920 --> 01:10:31,720 isn't using. Let me see. 1291 01:10:31,960 --> 01:10:33,360 Sophie, what's your meme review score? 1292 01:10:34,200 --> 01:10:38,360 So my meme review score is all of these clips that I have on 1293 01:10:38,360 --> 01:10:42,120 Niko's desk. They're little hair clips to 1294 01:10:42,120 --> 01:10:44,760 pull your hair back for, you know, and it doesn't create a 1295 01:10:44,760 --> 01:10:49,520 crease like these specific ones. So I'm going to give it a score 1296 01:10:49,520 --> 01:10:52,360 of all the little clips that I have around the house. 1297 01:10:53,720 --> 01:10:58,840 All right, guys, my meme review score is Bitcoin is Venice. 1298 01:10:59,680 --> 01:11:02,800 I got all the Bitcoin books here now, so you already know. 1299 01:11:03,240 --> 01:11:05,080 All right, Daniel, what's your meme review score? 1300 01:11:05,160 --> 01:11:09,840 Yeah, I I got here 500 Argentine pesos, 1000 Argentine pesos and 1301 01:11:10,040 --> 01:11:14,080 100 trillion Zimbabwe dollars. Wow. 1302 01:11:14,920 --> 01:11:18,720 Love to see it. How much is the Do you know what 1303 01:11:18,720 --> 01:11:22,520 What is the What is the exchange rate right now in Argentina? 1304 01:11:23,640 --> 01:11:25,960 So so currently this is about $1.00. 1305 01:11:26,640 --> 01:11:29,840 And what is it, 1000? Yeah, that's yeah, that's 1000. 1306 01:11:30,360 --> 01:11:36,160 But again it it changes, right. So, so you know if you you know, 1307 01:11:36,160 --> 01:11:38,720 wait a few days and you may have to may have to check it again. 1308 01:11:40,000 --> 01:11:41,640 Incredible. Incredible. 1309 01:11:41,680 --> 01:11:44,560 Well guys, drop your mean review store in the chat. 1310 01:11:46,240 --> 01:11:50,720 Can I just say shout out to Toxic Sophie for being the the 1311 01:11:50,720 --> 01:11:53,120 worst version of me on this chat. 1312 01:11:54,320 --> 01:11:56,400 This is amazing. All right guys, you already know 1313 01:11:56,400 --> 01:11:58,480 the deal. Stack Sats first. 1314 01:11:58,680 --> 01:12:00,160 But we appreciate all your support. 1315 01:12:00,160 --> 01:12:01,920 We do have some merch. We have some T-shirts. 1316 01:12:01,920 --> 01:12:03,280 We have some hoodies. I'm going to get you guys the 1317 01:12:03,280 --> 01:12:04,760 hats. We'll get you the mugs. 1318 01:12:04,920 --> 01:12:08,480 We have a special shirt coming out with a Bitcoin artist. 1319 01:12:08,640 --> 01:12:11,600 Sophie, we'll get you guys, the women cuts, scan the QR code. 1320 01:12:11,600 --> 01:12:13,040 We really appreciate all the support. 1321 01:12:13,400 --> 01:12:18,720 And on that note, let's get to the meme review guys, because. 1322 01:12:19,680 --> 01:12:24,320 There is some that got through. Hold on, let me see, let me see. 1323 01:12:24,320 --> 01:12:26,400 Let me get to the top one. Okay. 1324 01:12:26,400 --> 01:12:30,920 First we got Nigel Lowry and he goes meme review Miami Diggers 1325 01:12:30,920 --> 01:12:33,960 for everyone until they find your decoy wallet. 1326 01:12:34,160 --> 01:12:35,120 Oof. Oof. 1327 01:12:35,720 --> 01:12:40,760 Okay, let's never tell him. Is Elaine Lowe when it goes 1328 01:12:40,760 --> 01:12:43,320 score? Time to tell your UN corner 1329 01:12:43,320 --> 01:12:44,800 Friends. The time is now. 1330 01:12:44,800 --> 01:12:47,480 The bull is snorting and scratching the dirt by Bitcoin 1331 01:12:47,480 --> 01:12:49,960 today, friends. Let's go, OK? 1332 01:12:49,960 --> 01:12:51,720 I call them pre coiners. Pre coin? 1333 01:12:51,800 --> 01:12:54,520 Exactly. Toxic selfie score. 1334 01:12:54,520 --> 01:12:57,720 Bullying my unborn child by making her listen to safety and 1335 01:12:57,720 --> 01:13:01,120 humiliate shit corners just so they know the kind of family 1336 01:13:01,120 --> 01:13:03,920 they're joining? Yes, yes. 1337 01:13:04,560 --> 01:13:09,040 OK, Tora Paddle Meme Score FOMO. Fuel explosion. 1338 01:13:09,440 --> 01:13:11,000 Yes. OK, next one. 1339 01:13:11,000 --> 01:13:13,520 Everyday Walking with Christ Meme review score. 1340 01:13:13,520 --> 01:13:18,240 All my cipher mining stock. Caitlyn Long is on their board. 1341 01:13:18,240 --> 01:13:21,680 Let's go. OK, next one is rape elevator 1342 01:13:21,680 --> 01:13:26,440 score for the memes seeing a Bitcoin ATM in front of a mall 1343 01:13:26,440 --> 01:13:30,120 Santa Charlotte, NC OK, actually, let's go. 1344 01:13:30,400 --> 01:13:31,520 All right. Next one, Phil. 1345 01:13:31,520 --> 01:13:34,520 See, I give these memes a little dent on the monger grade. 1346 01:13:34,520 --> 01:13:37,000 No, that's don't dance on people's grades. 1347 01:13:37,480 --> 01:13:38,600 Don't do it. Don't do it. 1348 01:13:38,600 --> 01:13:42,440 OK, over here on Rumble, John Pleb. 1349 01:13:42,440 --> 01:13:46,080 My score. A dead fuck a day before 100. 1350 01:13:46,080 --> 01:13:48,240 Still waiting on zero. I don't know what that means. 1351 01:13:48,360 --> 01:13:52,440 OK, Narwhal tacos mean score equal 5 because those memes were 1352 01:13:52,440 --> 01:13:55,080 mid. OK, now I'll do better. 1353 01:13:55,080 --> 01:13:57,200 Send me memes and tag me and memes. 1354 01:13:57,440 --> 01:14:00,800 OK, more ran score. Congrats to Nico and Sophie's 1355 01:14:00,800 --> 01:14:04,120 new expected decentralization. OK. 1356 01:14:04,120 --> 01:14:10,200 And last one. Is by UTXO score purple glasses 1357 01:14:10,200 --> 01:14:15,360 inspired by Max Keiser. OK, love it. 1358 01:14:15,360 --> 01:14:16,640 Love it. All right. 1359 01:14:16,640 --> 01:14:19,160 Well Soph, thanks for filling in all week. 1360 01:14:19,960 --> 01:14:22,240 Nico should be back tomorrow. Hopefully. 1361 01:14:22,240 --> 01:14:23,120 We. I don't know. 1362 01:14:23,120 --> 01:14:25,240 I I'm. I'm the last one to know as well 1363 01:14:25,240 --> 01:14:27,040 so I think he'd be back tomorrow. 1364 01:14:27,200 --> 01:14:31,040 But if not, go check out Sophie on the YouTube and Twitter 1365 01:14:31,040 --> 01:14:32,960 timeline. Hell yeah. 1366 01:14:32,960 --> 01:14:35,080 Thank you guys for having me. It's been a great. 1367 01:14:35,080 --> 01:14:36,280 Week. Let's go. 1368 01:14:36,280 --> 01:14:39,040 All right, Daniel, before you go, thank you. 1369 01:14:39,040 --> 01:14:41,160 First and foremost, thank you very much for showing up on the 1370 01:14:41,160 --> 01:14:44,320 show, spreading that wisdom. I I think it's very insightful 1371 01:14:44,320 --> 01:14:48,560 for for newer bitcoiners to get that signal from the OG. 1372 01:14:48,560 --> 01:14:51,000 Older bitcoiners that have been around for a while, maybe a 1373 01:14:51,000 --> 01:14:53,840 little more wise in the ways they talk about Bitcoin. 1374 01:14:54,160 --> 01:14:56,360 But is there anything you want to plug? 1375 01:14:56,360 --> 01:14:57,720 Where? Where can people find you? 1376 01:14:59,000 --> 01:15:01,520 Yeah, the you can reach me on Twitter, right? 1377 01:15:01,520 --> 01:15:03,320 It's right there. DKA 218. 1378 01:15:03,520 --> 01:15:05,840 It's the best way. As I said, my DMS are open and 1379 01:15:06,520 --> 01:15:09,880 you know I can always point people on the direction of 1380 01:15:09,880 --> 01:15:13,080 others other things that I that I may have done or or will do 1381 01:15:13,080 --> 01:15:17,440 from that point. And yeah, I I just like to say 1382 01:15:17,440 --> 01:15:19,560 right, you can either learn from your own mistakes or from 1383 01:15:19,560 --> 01:15:21,440 someone else's. So you know, please, please 1384 01:15:21,440 --> 01:15:24,800 learn from my mistakes. And I just want to say again, 1385 01:15:24,800 --> 01:15:27,000 you know, recipes to Charlie Munger, right. 1386 01:15:27,000 --> 01:15:29,160 There's some bit corners. I think he's he's the enemy 1387 01:15:29,160 --> 01:15:32,080 because he was anti Bitcoin, but he he's not right. 1388 01:15:32,080 --> 01:15:35,040 And if you actually look at some of the things he said, he said, 1389 01:15:35,040 --> 01:15:37,600 you know you're you're looking for a mispriced gamble. 1390 01:15:37,600 --> 01:15:40,360 That's what investing is. And he said, you know, the idea 1391 01:15:40,360 --> 01:15:44,360 of excessive diversification is madness and the big money is not 1392 01:15:44,360 --> 01:15:46,040 in the buying and selling but in the waiting. 1393 01:15:46,560 --> 01:15:48,880 So if he was born later, he would have been a bit corner, 1394 01:15:48,880 --> 01:15:50,000 right. You have to understand when 1395 01:15:50,000 --> 01:15:52,080 people in their 90s, they're not necessarily. 1396 01:15:52,520 --> 01:15:55,640 Interested in learning a totally new thing when what they already 1397 01:15:55,640 --> 01:15:58,560 know has been working very well for them that that's all. 1398 01:15:58,560 --> 01:16:01,800 So I'm sure you know and when we're all in our 90s we'll we'll 1399 01:16:01,800 --> 01:16:04,920 be a little perplexed as to what's happening at the time. 1400 01:16:05,760 --> 01:16:07,640 That that's it. And you can learn a lot from 1401 01:16:07,640 --> 01:16:10,400 people who might, you know, vigorously disagree with you as 1402 01:16:10,400 --> 01:16:12,040 well. So so that's it. 1403 01:16:12,040 --> 01:16:16,480 Yeah, you can connect me on Twitter and that and I really 1404 01:16:16,480 --> 01:16:18,280 appreciate being on the show. This was a lot of fun. 1405 01:16:18,920 --> 01:16:22,240 Now I appreciate it, Daniel. Wise words from a bit corner 1406 01:16:22,240 --> 01:16:27,400 that's been around, you can tell there is a no longer the, you 1407 01:16:27,400 --> 01:16:30,240 know, the the ecstasy of being a new bit corner. 1408 01:16:30,240 --> 01:16:32,760 You're like a sober bit corner. It's like I've been around guys 1409 01:16:32,760 --> 01:16:35,200 like don't be assholes. It's it's pretty simple, man. 1410 01:16:35,200 --> 01:16:36,640 It's way easier. What's the saying? 1411 01:16:36,640 --> 01:16:39,000 It's way easier. Catching flies with honey than 1412 01:16:39,000 --> 01:16:41,040 shit or something. I don't know, bees with honey. 1413 01:16:41,040 --> 01:16:45,040 I forget what the meme is. Yeah, yeah, yeah, exactly. 1414 01:16:45,040 --> 01:16:46,960 Catch. Catch with, you know, honey, 1415 01:16:47,000 --> 01:16:48,440 then vinegar or something like that. 1416 01:16:48,520 --> 01:16:49,920 Yeah, something like that Anyway. 1417 01:16:50,000 --> 01:16:51,640 Anyways, thank you for coming on, Daniel. 1418 01:16:51,640 --> 01:16:53,800 Really appreciate it. We'll bring you on again, let me 1419 01:16:53,800 --> 01:16:56,840 know, let us know, we'll we'll schedule you another time and we 1420 01:16:56,840 --> 01:16:58,640 can talk about whatever you want to talk about. 1421 01:16:59,200 --> 01:17:00,280 Absolutely. We'll be great all. 1422 01:17:00,480 --> 01:17:01,280 Right. Awesome. 1423 01:17:01,440 --> 01:17:03,560 All right, guys. Well, you're another deal. 1424 01:17:04,000 --> 01:17:07,640 Like subscribe, share, all that good stuff, share all Bitcoin 1425 01:17:07,640 --> 01:17:10,000 content. It's about spreading the signal. 1426 01:17:10,480 --> 01:17:13,480 It's about making sure more people understand why they 1427 01:17:13,480 --> 01:17:15,360 should Bitcoin, why they need Bitcoin. 1428 01:17:15,360 --> 01:17:17,960 It's about incepting the ideas of freedom into people. 1429 01:17:18,360 --> 01:17:22,400 And at times kind of like what Daniel said, you know, you bait 1430 01:17:22,400 --> 01:17:24,360 the hook for the fish you're trying to catch and then don't 1431 01:17:24,360 --> 01:17:27,120 just bombard people with everything you know about 1432 01:17:27,120 --> 01:17:29,120 Bitcoin. I know we get excited, but 1433 01:17:29,120 --> 01:17:32,200 sometimes asking them some pointed questions is the best 1434 01:17:32,200 --> 01:17:35,000 way to Orange Pell. Anyways guys, we will be back 1435 01:17:35,040 --> 01:17:37,960 tomorrow of course for our Daily Show. 1436 01:17:38,840 --> 01:17:40,360 Make sure you're checking out our YouTube. 1437 01:17:40,440 --> 01:17:44,520 We we're dropping content constantly and you know signing 1438 01:17:44,520 --> 01:17:48,160 off guys, Get outside, cut some grass, eat some good food, hang 1439 01:17:48,160 --> 01:17:51,080 out with people you love. This is the way it's all about 1440 01:17:51,080 --> 01:17:53,920 becoming a better person. On that note guys, peace out, 1441 01:17:53,920 --> 01:17:56,000 it's your boy Opti. I will see you tomorrow.