Yo, did Jerome Powell just make a massive Bitcoin backflip?
Well, Jay Powell isn't the only G7 central banker who was
waiting on Bitcoin in the past 24 hours.
But before we explore the global central banker race to Bitcoin
and show you just how Jerome Powell's tone has taken a
massive shift since Trump was elected, let's play you this
brand new clip of Jerome Powell yesterday at the FOMC meeting.
And let's just hear how the tone has changed around Bitcoin.
You know, banks are perfectly able to serve crypto customers
as long as they understand and can manage the risks.
And it's safe, safe and sound as many of our a good number of our
banks, right that we regulate and supervise.
Do that, you know, the threshold has been a little higher for
banks engaging in crypto activities.
And that's because they're so new.
And, you know, we don't want to make the mistake you're if you
if you're making a choice to conduct that activity inside a
bank, which is inside the federal safety net with Deposit
Insurance, then you want to be pretty sure that that that it's
a safe and sound activity. So, you know, we're not against
innovation and we certainly don't want to to take actions
that would cause banks to, you know, to terminate customers who
are perfectly legal just because of excess risk aversion may be
related to regulation. And wow, guys, very interesting
to see Jerome Powell kind of flip flop.
He's backtracking. I don't know if you guys
remember last month we were playing Jerome Powell
essentially saying like, hey, we don't want to talk about
Bitcoin. It's illegal for the Fed to even
own Bitcoin. Now he's saying, hey, you know,
banks under our jurisdiction can custody Bitcoin if they want to.
And also the, I think the main signal here is this idea of we
don't want to stop innovation. Is it just because, you know,
the Fed and Jerome Powell is starting to see the light or is
there bigger things playing out? And I have a post here, guys,
from, sorry, Donald Trump's true social.
I'm not going to read the whole thing.
But you can see that he's feeling a lot of pressure from
President Donald Trump. Obviously, since Trump's been
elected, he's doing a lot of executive orders.
We saw the repeal of SAB 121, which makes it easier for banks
to custody Bitcoin. And it seems like, you know,
Trump is, is running a hard line here in regards to the adoption
of quote UN quote crypto. And now we see the central
bankers out there starting to bend the knee.
And another interesting development.
Remember what we talked about yesterday, which is the governor
for the Czech National Bank announcing that they're going to
look into having a 5% of their reserves going into Bitcoin.
Well, in response to that, we got Chrissy Lagarde from the ECB
yesterday or this morning rather talking about that.
Hey, maybe we talked to the head of the national, Czech National
Bank and we're confident they're not going to add it literally
sounds like a veiled threat. So let's play that real quick
before we get into some more central bank news.
On this matter that you referred to and whether reserves of
Central bank should or could include bitcoins, I think
there's a view around the table of the governing council and
most likely the General Council as well, that reserves have to
be liquid, that reserves have to be secure, that they have to be
safe, that they should not be plagued by the suspicion of
money laundering or other criminal activities.
And as a result, I'm confident that reserves will not enter,
sorry that bitcoins will not enter the reserves of any of the
central banks of the general counsel.
I had a good conversation with my colleague from the Czech
Republic and I leave it to him to make whatever announcement he
wants to make. But I'm confident that he's
convinced, as we all are, of the necessity to have liquid, secure
and safe. Yeah, not going to lie, it
sounds like some mafia taxes. You know, we had a little
conversation and I'm confident they're not going to add Bitcoin
to their reserves. Just absolutely crazy though.
Before I move on to the recent developments around the Czech
National Bank, it is sounding very similar from Christine
Lagarde and Jerome Powell that they, you know, they want a
Safeway for, you know, customers to put custody and reserves and
something that isn't going to be volatile and blow up like
Bitcoin or quote UN quote BLOB and be like Bitcoin.
So again this morning we got we got some more news coming from
yesterday's story, which is apparently the Czech National
Bank. They passed this proposal
yesterday. They were talking about whether,
you know, they're going to look into adding 5% of their reserves
in the Bitcoin. Well, it looks like they are
active actually moving forward on this.
They are assessing options for a quote, broadening investment to
include other asset classes and and this governor, you know,
he's getting some Flack here. We have a Bloomberg article of
Czech finance minister warns against adding Bitcoin to
reserve because it's quote, not a stable asset.
Absolutely incredible. And then just to round this up,
guys, these aren't the only it's not just the ECB, it's not just
Czech Republic, it's not just the US Fed.
We just learned this morning shouts out again to Bitcoin
magazine that Norway's central bank's fund reveals owning $500
million of MicroStrategy shares. So don't watch what they say,
watch what they do. And it looks like they central
bank FOMO around Bitcoin is starting to take place.
Now of course, here at Simply Bitcoin we have the idea of
separating money from state, but it is very interesting to see
how fast the conversation around Bitcoin is happening.
It does seem ever since Trump got elected, ever since Trump
has been proposing and pushing for a strategic Bitcoin reserve,
that now the central bankers around the world have to bend
the knee. It does sound like some micro
capitulation from Jay Powell couple months ago Jay Powell was
out here saying like, Oh no, we're not going to touch
Bitcoin. We don't want any of our clients
to touch Bitcoin. Now he's like, hey, actually,
you know we just want it to be done in a Safeway.
We got to make sure that the banks at custody Bitcoin are
holding something that isn't going to wreck themselves.
You know, I'm not against innovation, but he's also not
saying he is for innovation yet. And again, this has to be
pressure coming from the Trump administration.
Obviously the writing's on the wall now that, hey, if if you
don't adopt Bitcoin first, then you're going to be last.
And we've seen what happened with El Salvador.
Buchelli is killing it out there.
His country is adding Bitcoin to the reserves.
Now we're seeing, we've gotten to this point where central
banks are even talking about adding Bitcoin to the reserves.
Now, as a Bitcoiner, I fundamentally believe in the
idea that Bitcoin will defund these central banks.
But in the meantime, they have to do something to survive.
And if they're having these conversations, and I have a clip
for you from Jeff Booth and the numbers about why they're having
these conversations, you have to wonder what is going on on the
back end? How much trouble do the central
banks realize that they're in if they are talking about Bitcoin?
Now, we all know number go up in Bitcoin is great.
This is why they're looking for profits.
This is why they're looking to add Bitcoin to the reserves.
But it does enter us into a new paradigm like could you have
guessed? I will actually pass this to
Adam. Could you have guessed when you
got into Bitcoin that we would see the biggest central banks in
the world starting to embrace Bitcoin, at least tentatively?
At least they're no longer like it's just for criminals, though
They still are saying, hey, you know, we we don't want our
central bank partners to add an asset into their balance sheet
that is, you know, fundamentally pushing criminals and money
laundering and stuff. But it seems like they're being
forced to actually look at Bitcoin honestly.
So very interesting developments.
Obviously we want individuals holding Bitcoin.
I, I want to defund the central banks.
I, I don't want them to add Bitcoin to their balance sheet.
But this is where we are right now.
They're talking about adding Bitcoin to the balance sheet.
It's absolutely crazy. And this is all, you know, love
them and hate them, but this is all because Trump came out
really strong for a pro Bitcoin administration.
So crazy things happening right now.
We'll see what actually follows through.
We'll see who is the first one to actually adopt Bitcoin.
There's still a lot of conversations around that.
But what a what a crazy time. So Adam, you've been in the game
a little longer than I have. What's your thoughts hearing
central bankers talking about Bitcoin in a seemingly positive
light? Dude, I mean, in hindsight it
probably seemed inevitable. Bitcoin is perfect money all the
way around. And obviously the banks have to
or the central banks have to pretend to like perfect money so
they don't let their scam be exposed.
But I think it's hilarious to watch what these different
massive G7 central banks are. How they respond to Bitcoin goes
to show just how how much volatility there is in the world
in their responses to it. We have the American Central
Bank saying one thing, we have the European Central Bank saying
almost the opposite thing. I would also love to see the
chart of Bitcoin used for money laundering compared to the Euro
use for money laundering. I if I had to exactly probably
say for every $1.00 laundered in Bitcoin, there's probably like
10 to $15 laundered with the euro all around.
The Euro is just infinitely worse than Bitcoin and it's
laughable that these people have the audacity to lie to us to our
face. They either think we're dumb or
they themselves are dumb. And I think that it's just, it's
just getting reiterated over and over and over again how
irresponsible and selfish these buffoons in charge are.
And I think why Bitcoin is succeeding is because no ones in
charge. And I think it's great.
I think that you're right, ultimately the central banks
disappear. Bitcoin doesn't need a central
bank. Bitcoin is the central bank.
It is a protocol, not a platform.
It cannot be bought. It cannot be manipulated.
It is the absolute source of truth for our money, for the
value that we create with our time.
And that's a good thing. I think that watching these
quasi fake, you know, wannabe real banks, central banks come
in and try to disprove it just goes to show how scared they
are. I can't get Seifa Dean's voice
out of my head, which is that the adoption of Bitcoin is not
some cute little S curve like the Internet.
It is a straight vertical line up like gunpowder.
If you did not adopt gunpowder during the wars, you died.
We don't know about you because the history books forgot about
you because you didn't adopt the new obviously better technology.
If you were fighting with sticks and knives during, you know, and
your and your opponents are launching bullets at you with
fire and gunpowder powder, you just lost.
And right now we have the next innovation.
We have the gunpowder, we have the bullets and they're still
using like dull wooden sticks. And so I think it's inevitable.
Bitcoin puts everyone in competition with each other.
And again, this is positive. This is the net pro for
humanity. This is a net pro for society as
a whole. But I wouldn't want to be caught
on the wrong side of it. And it looks like they are kind
of realizing that they are on the wrong side of it.
You know, it's interesting. And and then I'm going to pass
it to Sophie. Sorry, sorry, Soph, but it's
very interesting to see so many people just doubled down on, you
know, their ignorance around Bitcoin.
And it's, it reminds me of what's the Sinclair quote?
You know, it's hard to convince someone of something when it's
their job to do the opposite. I'm, I'm butchering the quote
here, but this is where we are right now.
You know, the, the confirmation bias, the the Stockholm syndrome
that we're seeing play out in real time is absolutely insane
to watch. A lot of us Bitcoin has learned
about the traditional financial system after we learned about
Bitcoin. And it's just so clear.
Once you understand Bitcoin, you look at all the stuff coming out
from central banks and traditional finance and you're
like, this stuff is ass backwards.
Like who in their right mind can like do the mental gymnastics to
make this seem like it's a positive thing?
Obviously there's a lot of spin out there, but look, if they're
publicly saying this stuff, you can only imagine what they're
saying privately. And hey, if they're publicly
kind of tentatively embracing Bitcoin, I'm sure privately they
are freaking out and they're like, yo, Bitcoin is eating our
lunch. That I forget what the numbers
are now, but there's like what, 600 million people that are, you
know, on the Bitcoin or crypto networks And it seems like it's
starting to take over the world. And if Bitcoin does an
incredible price run this this year, it's going to be very
interesting to see how quickly these central banks capitulate.
Dude, could you imagine? I think I saw a tweet this
morning. I don't know who said it, but
imagine being the last governor to a topped Bitcoin or to buy
Bitcoin. Like you're just going to look
so stupid. It's just going to be dumb.
Insane, Insane. OK, self, we figured out Sofs
video and audio today. So Sophie, what's your thoughts
on seeing the central bankers come out kind of embracing
Bitcoin, but also kind of fighting around Bitcoin?
You can see that what we always talk about here, the global hash
war, the global race to adopt Bitcoin, like it's happening on
a central bank level level and they're like fighting each
other. You can see their rhetoric is
going past each other. So what's your thoughts hearing
not only just Fed Jerome Powell talking positively about
Bitcoin, but also, you know, ECB Chrissy Lagarde, My
ex-girlfriend Chrissy Lagarde? Yeah, let's talk about that.
Let's talk about that. Opti be honest, you for sure got
a late night text from your ex-girlfriend Chrissy Lagarde.
You know, number go up, girlfriends go up.
It's it's directly correlated. But my take on this is that part
of their value, part of the value of these institutions and
central banks is perception. And since they've lost control
of the media, they've forced themselves to align with the
truth. And when you align with the
truth and you see the cards on the table and you realize that
you can no longer manipulate the masses.
You can no longer just tell them, hey, buy our central bank
digital currency. It'll be good for you.
It's going to make your life easier.
You will own nothing and be happy when you realize that
people are just not going to buy that because they're no longer
listening to legacy media because you are the media now,
Then you, they, they, they have to, they have to actually come
to terms with the fact that they have to adapt or die and
adapting it or yeah, adapting is adopting Bitcoin.
Yeah, 100%. But as we can see, the dinosaurs
are going to try to hold on for as long as possible.
And if there is a quintessential dinosaur out there, it's
obviously the central bank and it's anyone can tell from the
stuff we see coming out of the EU, they are, you know, so hell
bent on control that it's, it's becoming so obvious to obviously
Bitcoiners, but they all they care about is control.
So it's very interesting to as a bitcoiners see this.
But I really wonder what the normies are thinking about, you
know, these ECB talks and the banning Bitcoin in EU.
And also we didn't cover it this week, but France proposing, I
think it was 25% unrealized capital gains on Bitcoin.
It's like good luck. Yeah, they're they're shooting
themselves in the foot. It's absolutely insane that the
type of rhetoric we're seeing come out from these people.
It's just it's nuts. You know, but on that same
token, I think that the normies from the perspective of these
people who are in power and in these central banks, I think
they see us plebs as the normies.
And I think that enough of us have adopted Bitcoin and kind of
like opted out of their system for us to have power over them
and for them to have to actually align with us.
And that's what we're seeing. We're seeing the outer layers of
the onion, starting with government and going into these
institutions. Next up is retail, and next
it'll be the individual. And they're all kind of like
coming to terms with the fact that Bitcoin is hard money.
It is going to win at the end of the day and it's the scarcest
asset in the world. So the chap's still freaking
out. Sophie.
Guys, this is Internet selfie. AKA Misses Nico.
This is his wife. She's a great bitcoiner.
She's also way more radical than Nico.
She's going to fill in every once in a while.
Nico's enough to. Be toned down.
Yeah, we got to tone her down a little bit.
So, you know, guys, you know, keep the simping to a minimum
here she is taken. All right, so anyways, let's get
into the rest of the show. We got a bunch of stuff for you.
Like I said, in the numbers. We have Jeff Booth basically
explaining why we're seeing Central Bank start to embrace
Bitcoin, why the biggest institutions in the world are
embracing Bitcoin and the news. We got interesting, interesting
stories coming out of Tesla and you know, a lot of must news
today and Twitter and then Adam's going to show us some
cool stuff that Bitcoin well has been working on.
Maybe get some sneak peeks here. I know Adam wants to do some
wishing well stuff. So you guys are get your
lightning wallets out. Anyways, let's plug our boys
over at Bitcoin Well, make sure you go to bitcoinwell.com.
They are enabling the independence you need to set up
a Bitcoin well account because I think they're one of the correct
me here Adam. Is it the the only company the
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So you need to have a Bitcoin wallet to sign up to Bitcoin.
Well, the Bitcoin goes directly to you.
You're never going to get rugged at Bitcoin Well.
This is why we love the boys over at Bitcoin Well.
Make sure you use the promo code simply BTC.
And of course, if you are in the market to buy a shit ton of
Bitcoin, get in touch with the Bitcoin Well Infinite and their
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And guys, I know you've been yelling at me.
I do have some wishing well points for you just to start off
the show. So get your Lightning wallets
out. First come, first serve.
Wait, wrong one, wrong one. Here we go.
Make sure you scan the QR code and first one to scan it gets
210 sets. Okay.
Do one more we'll. Do one more, we'll do one more.
We'll do more for you guys later as well.
Bitcoin going up too much. We got to.
We got to get more. Stock wait.
Bitcoin wishing well, doing the bankrupt Bitcoin well, there we
go. OK, 2100 sads.
Good call, Adam. All right guys, let's get into
the show. We have a lot to talk about.
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OK anyways, we're over here on Clark Moody's dashboard looking
at the Bitcoin numbers and the current Bitcoin price is 100 and
5160. I think we got all the way up to
106 this morning. So hey, I I think once we break
out of this, you know one O 8 range game is on let's go
anyways the SAT per dollar AKA how much Bitcoin you can buy for
a single dollar AKA how much a dollar is worth in Bitcoin is
currently at 951 SAT's per dollar.
The current block height is 881,522.
The market cap in Fiat terms is $2.08 trillion and the Bitcoin
versus gold market cap is currently at 10.82%.
Man we got a 90% still to run until we take out gold.
So numbers going up anyway, the total percentage of Bitcoin that
will ever be issued is currently at 94.36% with roughly 19.8
million coins circulating. And the realized monetary
inflation, literally taking all Fiat currencies to school is
currently at 1.04%. The hardest money period.
Nothing comes close to it. This is why you can't save in
Fiat currencies. Now doubling down kind of
connecting this, there was a lot of stuff I could have put in the
numbers I was thinking about it this morning.
But really to kind of explain why why central banks and why
institutional managers and why nation state leaders are looking
to Bitcoin is one simple, simple idea that Jeff Booth is going to
explain in this and chat that the TFTC because it sums it up
like this. The global economy is insolvent
and Bitcoin is the only escape. So let's play this real clip
real quick and then we will chat about it the.
Global balance sheets in our assets, the asset value, I'm
just, I'm not going to go through with them all between,
between your, your brand, your, your, your financial assets,
your, your tangible assets. Looks like that.
Everything you measure is in there.
This conference hall, your house, every business is in is,
is, is in that #900 trillion is backed by that 323 trillion of
debts today. By the way, the 65200 trillion
of liabilities against derivatives, 65 trillion of two
years ago, the Bank of International Settlements found
65 trillion that was missing in off balance sheets transactions.
So let's just clear the room here.
That is already insolvent. If you tried to pay back 400
trillion, it would take you $1.00 a second.
It would take you 12,873,000 years to pay that back.
It is already insolvent. But what does that mean if
you're measuring your assets on top of that?
What does it mean? That means all of your assets
are also insolvent. Because if that weren't
insolvent, the whole thing would fail.
The global system would crumble to the ground completely.
And So what do you do inside that system?
What do you likely do inside that system?
You likely complain about it and give it more energy.
You probably talk about all the politicians stealing your money
and then you buy a house and then you're because you have to
make more money in this. And then you're complaining
about all those people inside that system.
But you would not vote to let it collapse, nor would I.
We wouldn't do that. So it becomes hypocritical when
we're fighting inside that system because we're all a part
of it, right? I'm fond of saying there is no
they, it's only we. And we make that system stronger
from our actions within it. The problem is that system is
insolvent. And So what would your asset of
your host be if that system actually was allowed to fail?
So you won't let it. So now we have 2 kind of big
problems, big or big opportunities problems.
These two systems are incompatible, they're opposites,
right? So one system, free market that
we talked about that we know is true.
And the other system that we live in and measure from every
asset in there is contingent upon more money printing
contingent. In other words, there's
counterparty risk of everything in our life on that, and there's
no counterparty risk. Bitcoin it is the only thing on
the planet because it's an open, decentralized, secure protocol
bounded by energy without counterparty risk.
Amazing guys, This is why we need Bitcoin.
This is why everyone is moving towards talking about Bitcoin.
This is why anyone in the know realizes that there's a problem.
And again, let me just reiterate the quote.
You know, this is Sinclair. It is difficult to get a man to
understand something when his salary depends on his not
understanding it. Now, Jeff Booth, you know,
obviously very eloquent, very deep dive on all this stuff.
But that is the simple fundamental breakdown that we're
seeing right now, that everyone that is a part of the
traditional financial system is incentivized to keep the system
going or else they become broke. The system is insolvent.
It's been insolvent for years. And now the problem is just
rearing its head. And also because of social media
and the fact that we can all talk about this and people can,
you know, communicate peer-to-peer, more people are
waking up to the fact that all of this whole system, the whole
entire world is insolvent right now.
It's all based on paper debt. And we're getting to a point
where, you know, it's make or break.
We're getting to what who knows how long they can kick the can
down the road. I'm sure they got some more
tricks up their sleeve. I'm sure, you know, the masses
might be able to get gas lit into believing the system is
still actually functional. But the basis of it is the
entire world is insolvent right now.
No one wants to stop the music because that means that all of
their assets go to zero. It means all the wealthy people
become poor. No one wants to lose their
standard of living. And I, I personally, I don't
want to see that happen because that means the world's going to
go to shit. I want to see a slow, gradual
adoption of Bitcoin. Obviously, we want to see number
go up in Bitcoin. We want to see freedom go up in
Bitcoin. But if the music does finally
stop on the traditional financial system, it's going to
wreak havoc on the world. And this is where we are right
now that like, look, maybe the central bankers out there aren't
necessarily the bad guys here. Maybe they actually are trying
to protect consumers. They are trying to keep the
system going. Maybe they haven't looked into
an alternative system like Bitcoin.
But there is an alternative now. And of course, that is Bitcoin.
And we're seeing that people are waking up.
It's essentially, you know, you want to be the first one to exit
the door when when your house is on fire.
You don't want to be the last one.
And Adam was kind of joking about it.
It's like, I don't want to be the last central bank governor
president to adopt Bitcoin because you're going to lose.
But this is where we are. The world is insolvent, but no
one wants to actually kind of talk about it because then the
House of Cards might collapse. So slowly but surely we're just
going to get more people to adopt Bitcoin.
But we have to constantly come out here and explain to people
the actual problem going on. This is why Bitcoiners always
say fix the money, fix the world.
It's a very simple meme. But that is the fundamental
problem in the world right now is that the money is broken, the
financial system is insolvent, and we have to find an
alternative. And we think the alternative is
Bitcoin. And all you have to do is buy
some Bitcoin, take it into custody, go live your life,
repeat the process. It's a very simple process here.
But hey, we all know the people with the big bags, the people
with the monopoly on violence, they're going to continue to
perpetuate the financial system because they are incentivized to
profit off of this. And this is the whole scam of
the world right now. So guys, This is why we kind of
paired these two topics together.
The central bankers seemingly embracing Bitcoin, also fighting
around Bitcoin, and Jeff Booth explaining to us the global
economy is insolvent. So I don't know about you, but
this would make me want to stack more Bitcoin if I actually had
Fiat left. If I wasn't already all in on
Bitcoin, I would be capitulating my dollars as quickly as
possible. Anyways, I'm ranting enough, I'm
losing my breath over here. I'm OK I think.
That's what Sailor figured out. He's like, let me just keep
putting all my Fiat into Bitcoin and, and you know, pumping my
own bags. But one of the things I'm going
to disagree with you on Opti, is you said slow, sudden adoption
or slow and gradual adoption of Bitcoin.
I want to see a fast and sudden adoption of Bitcoin because
every day the passes we're growing poorer and poorer.
And despite popular belief, it's not fun.
It actually creates a lot of wars.
And I think that what President Trump is doing right now with
backing the strategic Bitcoin reserve that Senator Cynthia
Loomis is already passing through Congress is a direct
reversal of the system that we have where we depend on money
printing and debt to sustain Fiat.
I think that eventually, you know, when the people, the same
people that want money to create war, are realizing that they're
actually going to need Bitcoin to fund wars.
But in reality, once they have Bitcoin, they're going to
realize, damn, I don't want to spend this.
Maybe I should not go to war with this country.
Maybe there's a more diplomatic way of of solving these issues.
And so I, I just can't wait to see how that is going to turn
out. I think that this Bitcoin
strategic reserve, like I said, is a direct reversal of the
system that we've been living on.
And as soon as the country adopts Bitcoin, as soon as we
get on the same standard as El Salvador, we are going to be so
much happier for it. Our economy is just going to
flourish and people are going to adopt that system for
themselves. Yeah, I, I totally agree though
the reason I kind of would like to see a slower adoption of big.
Obviously I want to see, you know, number go up.
I like, look, I'm not ashamed to say I want to see number go up
anymore, but I think a slow adoption of Bitcoin would just
be a lot better for all the people that aren't in Bitcoin.
And that's kind of what I'm thinking.
And that's like. Kind of even if we put even if
we put the number go up aside, right, I think that the faster
we all get on board, the faster even people who like are
supposedly like going to stay behind are going to also get on
board. People who have a lot of Bitcoin
are going to want to spend it. Employee employment is going to
go up. People are going to start paying
their employees with Bitcoin, or so we, I hope.
And so I think that, you know, the faster we get this done, the
faster it will be cemented into the consciousness of society.
And we'll be able to, you know, maybe it, it'll be a little bit
of a rough start and there will be people who push back against
it. But I think the faster we get
through this, the faster we implement it, the faster we can
get to hyper bitcoinization. I'm radical, remember?
Yeah, you're radical. I mean, I mean radical.
The idea is, you know, it just reminds me of when you talk to
normies about Bitcoin today, most of them are still like,
what are you even talking about? You're like, this is crazy.
So I don't I don't see a path where we get there quickly
without just like forcing people to buy Bitcoin.
And you know, as a as a semi libertarian, I'm like, I don't
like the forceful behavior. I would rather be forced to buy
Bitcoin through these measures than to be forced force to buy
Bitcoin because the world has completely gone in the gutter.
Imagine if, if, imagine if you would have to buy Bitcoin to
survive to to survive like either a nuclear war or
something where like, you know, we, we absolutely need Bitcoin
because things have gotten so bad that now we need Bitcoin.
But imagine now it's like, oh, the country has adopted Bitcoin.
This is a positive thing. So I better get on board.
I think that that's a much better sit like way to force
people and to like or get or get people to adopt Bitcoin because
you're doing it on positivity versus death and destruction.
That's that's the key. I think for Bitcoiners, the best
thing that we have going for us is that every single bitcoiner
that I talk to has low time preference and prefers peace.
And I think that when you like you're saying Sophie, when you
adopt this Bitcoin standard, you, you ultimately want to see
people thrive and you understand that the thing holding them
under the water right now is this manipulated monetary force.
And I think that what we have to prepare for as Bitcoiners who
want peace with a low time preference is there going to be
a pile of people who get caught in this savage undercurrent that
Fiat is currently is currently enabling.
I think you're bang on. Every single day the Fiat system
is around is one more day where there's more people getting
sicker and poorer and digging a hole that's deeper from to get
out of what we need to prep for right now in the like starting
immediately. Every single one of these people
watching this show and and and in the Bitcoin landscape is we
need to start building the life vests for when people who have
their entire net worth stuck in a house or their entire net
worth stuck in a four O 1K or some other kind of, you know,
garbage investment scheme, like a, you know, some kind of life
insurance policy or any of the other scams that we've been sold
in the place of Fiat or as as a result of Fiat and in the place
of sound money. We need to prepare and kind of
understand how do we, you know, get those people onto the
Bitcoin standard once their net worth is gone and it's going to
transition towards this incredible value for value state
and the next generation is going to benefit greatly from that.
Only because though there's a group of pro peace and and you
know, ultimately low time preference individuals here that
want to enable and help the sovereignty of the future.
Yeah, totally. It is a it is very crazy how,
you know, Bitcoiners kind of get get spit in the face by everyone
out there and we're literally just trying to help them.
It's it's like we're just, we're trying to help you.
Like we've unplugged, you know, we're probably wealthier than
we've ever been. And everyone's like, quit trying
to show me this crap. And you're like, OK bro.
That's so something you just said though, welfare that we've
ever been, that is historically how it's always been because you
have more time to accumulate. Like you work hard when you're
young, you spend less than you earn, and then every single
decade that passes by, you should be wealthier than you've
ever been. This is the like for the last
2000 years, this is how it's worked.
Only, you know, since like, you know, 1913 and then 1971, only
then when did people start getting less wealthy as they
went on because cost of living started outpacing their ability
to, to save. And, and, and now I know that
like my peers, we don't even talk about saving anymore.
Savings is a, is, is long gone. It's either survival or
investing. And, and frankly, you guys have
heard me hear, they say it here before.
Investing is just another word for gambling.
And, and frankly, in Canada anyways, gambling is tax free.
So you're literally incentivized to go to the casino rather than
to invest your money. It is such a perverted system
that doesn't enable sovereignty, doesn't enable individuals to
thrive. It's just some like loopy,
gaslit, complete backwards monetary system that lots of
people have been brainwashed into.
And I think it's our job right now to, you know, we gotta ride
the line. You've heard me take issue
before with with like toxic maxism.
I liken it to a, you know, a street corner preacher.
But you know, you know, I'm trying to find the I'm trying to
find the line. Like, you know, we have to alert
these people and wake these people up.
But but how do we do that without sounding insane?
It's. A force.
Yeah. OK.
OK, Sophie. OK, Joe, Joe, Joe, we're on the
world. YouTube oh man, that's so good.
No, I actually just just to like put a bow on this.
I did see someone tweet the other day and I forget what the
Twitter name is and he's loosely a Bitcoin like he is a
bitcoiner, but he kind of kind of talks about more about the
macro landscape. And I think I might have
mentioned this at some point this week, but it's the idea of
like, it is our duty to continue to try to wake people up.
Like we have this certain understanding, this certain
knowledge of the world going on. And as much as us Bitcoiners,
you know, a lot. I, I kind of done it in my
personal life where I've kind of tuned out trying to show Bitcoin
a lot And, and my personal life, because I, you know, I do it
every single day on the, on the show.
It's like my job and I, I try not to like blow up
conversations with just like massive Bitcoin shows.
But I still do believe it's, it's our duty to continue to try
to educate people, try to spread this knowledge and show people
there is an alternative or else like, what's the alternative?
You know, you, you get richer and everyone around you is just
in destitute, like, and pain. It's like, that's not the world
I want to live in. But hey, you know, to each their
own. And that's kind of kind of the
way we're going. You know, we can't all be a
radical like Sophie and being like, we got to put them in cams
and then force them, No. Listen, I can't tell you how
many of my friends I have told download cash app right now, buy
some Bitcoin right now because that's just like the easiest way
to like get their feet in the water and like three months
later, I'm like, see, Bitcoin is up.
This happened like the last cycle and I was like, you see it
went up. They're like, yeah, I sold.
I'm like, what did you but I told you to hold.
They're like. Wrapped up in this investment,
you know, mindset, you know. Which is exactly like you said,
it's gambling. Get on the rat race on the
treadmill, move, move, move, move.
And really, you know, we got to show them that like, what are
you exiting for? What could you possibly be
selling Bitcoin to buy? And when you start pricing
literally everything in Bitcoin, it falls.
It falls so dramatically. It's, it's, it's brutal.
Actually. The only thing that you can
really invest in, I think that that would go up would be in
yourself, which again, perfectly aligns incentives for the entire
world, because then you get to provide more value to the world
and earn more value in return. It's like when this is where the
quote comes from, fix the money, fix the world.
When you align incentives completely from from from A-Z,
then you actually have the ability to have a world that's
getting value. Zed wow, you know you sound like
an American, but really you're still a Canadian bro cheese.
Guys, I gotta work on my yank speech.
Yeah, yeah, yeah. Don't, don't say derogatory
terms on this show. This is a very inclusive show
here, OK? What are you talking about,
Otti? The Yankees are an American
institution. Yeah, yeah, yeah.
Anyways, anyways, we got, we got some much saga in the news
today. So let's get into that and break
everything down for you guys. Here we go.
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guys, so as I was telling you guys we have a few sagas I'm
going I'm going to kind of connect a few different stories.
Actually I'm going to do the main story and then if I have
enough time I'll get to another my story.
So the main story here guys is surrounding Tesla.
So let me pull this up I'm here in Tesla's earning update
quarterly update deck for 2024 Q 4 and you know we're not going
to talk about Tesla. This is not a Tesla show, but
even though Tesla in, in the normie news, if you were reading
some headlines around this Tesla quarterly report, it may have
looked like Tesla's, you know, automotive output is down.
There's a, there's a kind of a lot of fun around the, the Tesla
quarterly report. But for us bit corners, there
was a very, very big nugget in this.
And So what am I talking about? You can see here profitability.
We're not going to go over everything, but you can see 7.1
billion GAAP net income in 2024 and 2.3 billion in Q4, including
a point 6 billion mark to market gain on digital asset.
Now for you guys, you know they don't know what the hell that
means. Essentially that means that
Tesla has implemented the fasby accounting rules surrounding the
Bitcoin that they are hardly. So as you remember fasby
accounting rules just went into effect in December.
It looks like Tesla has implemented this and, and they
essentially have increased their earnings this quarter from
unrealized Bitcoin gains by 26%. So now that this stuff is
happening now we're getting more receipts out there, more points
showing us that, hey, you know, adding Bitcoin to your balance
sheet isn't going to just be a detriment to your earnings
report. You can actually claim the
unrealized gains on your Bitcoin.
And actually, Adam, you, you, you were given a good TLDR for
Sophie before the show. Can you explain in the simple
terms that you did for Sophie for the the audience, what the
fasby accounting rule change actually means for a company?
Yo don't lie up to you that was for you bro.
That was me explaining it simply for you.
Now listen, before fasby or with the fasby rules, you could buy
Bitcoin at 50K and if Bitcoin went to 100K you couldn't show
that on your balance sheet. So basically your balance sheet
is all of your assets. If you have a house, or let's
say you have an office building, you have cash and you have
Bitcoin, you weren't allowed to show the increased value of your
Bitcoin, which meant your assets continued to look like garbage,
even though in real terms, in actual value held by the
company. That was the opposite case
because you had Bitcoin that was appreciating in value, but what
you could do is mark it down in value.
So basically it was a weird accounting rule that only
allowed you to mark your assets down, which frankly does
investors a disservice. I don't know who thought that
was a good idea, ever. I can't figure out the first
basic principle other than, oh hey, we're measuring garbage
fake money anyways, may as well put some garbage fake rules
around it. But now that that's gone, we see
Tesla who bought Bitcoin what four years ago at like 20 K
something crazy. They now get to massively
increase the value of those Bitcoin on their balance sheet,
which basically shows a high level investor who looks at
three things. How much money do they make?
How much money do they have? And what is the future of this
business look like Now? The how much money do they have
changes completely because they actually have Bitcoin that is
valued properly on their balance sheet.
This was a massive barrier to other companies holding Bitcoin
before because it's like, why would I buy something if I can't
show my shareholders the value that it actually is?
Imagine like imagine a company measured on 1/4 by quarter
basis. Not being able to show the real
value of something on 1/4 by quarter basis doesn't make
sense. So now people seeing Tesla and
micro strategies showing their real value of Bitcoin on the
balance sheet, padding their balance sheets, it's going to be
a great thing. Yeah, this is huge.
This is why we've been telling you guys constantly, you know,
we've done a couple videos on this.
Sailors been predicting that the three things needed to happen
for $5,000,000 Bitcoin is 1, the Bitcoin ETFs, the FAZBE
accounting rules, which is this is what this story is about.
And then of course, banks custing Bitcoin.
And we actually kind of connected all of those today.
We no one wants to talk about the ETS anymore, but repealing
Saab 121 was huge. Now we got another report here
coming out of Tesla's quarterly earnings.
They're using the fasby accounting rules, they're
implementing it. You know, they claimed $600
million on their earnings or literally 26% of their earnings
were their unrealized capital gains tax or sorry unrealized
capital gains on their Bitcoin. And and this made their stock
pump up by 5% in after hours trading, which I know for us
Bitcoin is like 5% is like, yeah, whatever.
Like who cared? 5% on NASDAQ is like that's a
big, big, big deal. And they added $60 billion of
shareholder value, you know, 100 X multiple on their BTC.
Like this is crazy stuff. Now moving forward a little bit,
you know, Parker Lewis did some back of the napkin math and he
goes up by my math, the Tesla sold roughly 75% of its Bitcoin.
So if they have kept that, if they didn't sell that Bitcoin,
this would have been a $2.4 billion increase had they just
hold that Bitcoin. So absolutely insane numbers
going on, right? Like it's this is going to blow
the game open around Bitcoin and corporations adding Bitcoin to
their balance sheet. So this is this is a big news
story. Now, Adam, I do have another
story here. Do you want to chime in here
real quick? You want to add to this or you
want to move on to the next Musk related story and we can kind of
roll them all in together. Let's roll it, man.
Let's let's see what you got. All right, so this is Musk with
Tesla. And we all know, you know, Musk
is kind of he's he's been skirting around Bitcoin for a
long time. And you know, he's got the doge
meme around the, you know, Department of Government
efficiency. He kind of tweeted about Bitcoin
the other week, seemingly a little more pro favor around
Bitcoin. He was tweeting about Ross.
He's been tweeting about Roger Burr.
So obviously he's having these conversations around Bitcoin.
Well, a recent news came out around, you know, the quote UN
quote X everything app. And this is I'm gonna butcher
her last name Linda Yakarino. I think it is.
It's been. Yeah, that's great.
All right, awesome. You know, I can speak today.
So she rolled out this week that they are moving forward on their
quote UN quote X money app or X money payments X everything app.
But there's a glaring, you know, glaring omission here.
But they are trying to use the narrative and rhetoric around
Bitcoin. So here we go.
Her tweet another milestone for the everything app.
A Visa is our first partner for the X money account, which will
debut later this year. It allows for secure plus
instant funding to your X wallet via visa direct.
It connects you to your debit card, allowing P to P payments.
Interesting, interesting use of verbiage there options to
instantly transfer funds to your bank account.
First many a big announcement about X money this year and then
you know, here's the Visa post here.
We're excited to partner with X money on the launch of X Money
account Visa direct. We'll make it possible for USX
money account users to fund and transfer money in real time with
their debit cards. Now of course they they
mentioned P2P. Now there is glaring omissions
and I would look for this there there is no talks about it being
with Bitcoin. Obviously, we've been talking
about this for a while. I think if Twitter did actually
implement their X money everything out with Bitcoin,
that would be a total game changer.
But it looks like they're going down the traditional financial
route. So it's very interesting when
you compare the two different companies.
We have Tesla, you know, using FAZBE accounting rules to mark
up their earnings and their their reserves with Bitcoin.
We have X money coming out, seemingly omitting Bitcoin,
doing some form of peer-to-peer. I think I saw some, some some
more intricacies on this and it seems like they might be
implementing some form of stablecoin to back this X money
payments everything app they're going to be using visa.
Visa obviously for a long time has been kind of working with
stablecoins and you know, quote UN quote block chains.
They're they're they're treating Bitcoin kind of like it's, you
know, hazardous material over here.
But if Twitter really wanted to change the game, they should be
adding Bitcoin to this. So a lot of news coming out of
Musk or rather Musk related companies around Bitcoin or some
omissions of Bitcoin. But you know, the big tale for
me is as much as I would like to believe that Twitter or X is is
on the fight for free speech, there is kind of some growing
concerns around what is going on with Musk.
And I'm, I'm not here to, you know, shit on Musk here, but he
has been a little bit maniacal on Twitter.
He's so tragically human. Yeah, he's so tragically human.
You know, if you don't agree with Musk, it seems like he
might be losing your blue check Marks and you know your
monetization now send that down and go to the logical conclusion
here. If he's doing that on the
Twitter platform, I'm sure that's going to happen with the
X money platforms as well. Obviously, we would love to see
just Bitcoin natively implemented into Twitter.
That would be the real game changer here.
But it looks like they're going to be using just traditional
financial tools to implement this X money app.
But it is interesting that they are using, you know, some
Bitcoin means here peer-to-peer payments, you know, and.
What are the? Peer-to-peer payments.
It's like Zelle Venmo. What's?
What's the difference between Elon Musk and a central bank?
Bars. Like seriously, I love Elon, I
love Tesla, I love SpaceX. He's done some really great
things. Nobody can deny that.
But when it comes to Bitcoin, everybody knows that Elon has,
you know, he he he doesn't like it.
And I think it's partially because maybe he never got a big
enough stack. Maybe he just didn't stack
enough Bitcoin and now he's like salty that he didn't get in
early enough like Sailor did. Maybe that's why he pivoted to
Doge. That's why he's trying to make
his own shit coin on XI. Don't know but what I don't know
what the difference is. I think that he like this is, I
think exposing in real time platforms over protocols.
At the end of the day, Twitter's a business and Twitter has to
make money and you just don't get to clip fees when you have
Bitcoin. The lowest common denominator on
Bitcoin is no fees actually peer-to-peer.
And when you introduce that protocol into something, you're
losing massive streams of revenue.
Visa's probably going to pay XA billion dollars in whether it be
an interchange fees or exchange fees or just in referral fees or
whatever it may be. And and the only way they can do
that is through their centralized censorship garbage.
I think that just like communication got way better
when we decentralized, you know, went to more of a protocol
driven communication away from a platform driven communication.
Our money is also getting way better on a protocol driven
money versus a platform driven money.
X money is going to fail. They are too late.
The time for centralized payments was 10-15 years ago.
PayPal. You know he should have kept
with PayPal if he wanted to do the everything app in a platform
centric fashion. But at this point, it's done
centralized payments are over. If you are not integrating
directly with the peer-to-peer blockchain, the peer-to-peer
money protocol in Bitcoin, you're just going to lose.
I think that, you know, frankly, noster with zaps is infinitely
better than some X money, you know, changing blockchains.
I got WBTC, I'm using Visa Visa's banning me because I said
the wrong thing on Twitter. Social credit score.
There's just aligned incentives the whole way down this track
and again, moving towards protocol driven communication
and protocol driven money is the win at the end of the day.
Yeah, it really, you know, not being not not to be the, the
full tinfoil hat bitcoiner on the show, which I am.
It really does seem like X money is just kind of laying the
groundwork for the, the Western social credit scores going on,
especially connecting your social media to your money that
like, guys, if, if this is the case, I'm literally going to be
completely unbanked. I, I think I'm, I'm, I know my
social credit score right now is when the club very low, very low
over there. If this gets implemented
worldwide or at least on, you know, the nation state level
here in the US and it kind of takes over like Twitter's kind
of doing as a social media app, I think a lot of this Bitcoin is
going to be so wrecked. We're going to be forced to use
Bitcoin no matter what. It's not just going to be our
option. It's going to be our necessity
to survive. But yeah, it is very crazy when
you kind of look at the the dichotomies we're seeing from
Tesla and Twitter, both must companies kind of doing two
different things in in the same regards.
We have Tesla doubling down on the fasby accounting rules.
You know, they're they're benefiting from Bitcoin gains.
And then on the flip side, it looks like they're omitting
Bitcoin from these payments apps.
So hey, we'll. Yeah, but again, both things,
both things pointing towards the same, which is just Elon wanting
to prop up the business. Yeah.
And I think that, you know, and, and to be fair and, and play the
other side. I saw comments earlier that was
like, or the, the tweet we showed was like, oh, if they
would have just held Bitcoin, they would have been up more and
fair enough. But I think that they probably
had to spend the Bitcoin to build the Gigafactory.
You know, when you build a Gigafactory and then, you know,
it makes it launched into product.
That's what Bitcoin is there for.
The point of Bitcoin is not just to hold Bitcoin and live in your
cardboard box. The point is to be able to
innovate and bring new things to the world and add more value to
the world. Invest in yourself and and all
that good stuff. Yeah, he said.
He said that he was selling because Tesla couldn't be
aligned with Bitcoin due to environmental concerns, which
was a lie. And he's lying again and he's
lying again when he says that this is going to be a
peer-to-peer money. There's only one peer-to-peer
money. Actually, there's two.
There's cash and there's Bitcoin and then.
Even cash is reliant on. Exactly.
A third party because you have
to authenticate it and you have to have a government that's
backing it. So yeah, no, I totally.
There you go, I stand corrected. So, so when if he would have
said I'm selling my Bitcoin because I want to build a giga
factory, my respects love that because I love Teslas.
I think they're the coolest cars out there in the market.
But he literally sold it. Tesla cannot be associated
because there are environmental concerns and so.
Yeah, you know. That's not cool.
Like and and he and he I remember like the FUD that he
spread like was kind of correlated there with the price
going down and everything. So, you know, I, I, I, I don't
think that's cool and then pumping doge by saying that
that's like a, a superior crypto or whatever, Like I'm, I'm, I'm
not for that. And I, I, and if he again, like,
if he had done it to sell, like to make like something better
for the world, that's really, that's great.
But he doesn't and he's, and it really offends me actually that
he's lying when he says that X is going to have a peer-to-peer.
It's like you're insulting people's intelligence.
You're insulting all of Bitcoin Twitter, who knows what real
peer-to-peer technology is. And it's not this when Visa is
involved in the middle. When there is a central bank
that is controlling the currency, you are not inventing
or providing a peer-to-peer service on your platform.
You're actually just a shit coiner.
Get up the chat saying get up all right, cooking.
Well, it is interesting here before I move on and we're going
to talk about Bitcoin. Well, it's funny seeing, you
know, I would say Niko's better half just like going in on Elon
and Niko loves Elon. So it's just funny.
It's just, it's really. Funny too, but you know, like
somebody's got to put him in his place.
Sophie's the real Bitcoiner, though, because like, it's like.
But here's the thing, listen up, listen up.
When we as Bitcoiners, we have to to stop idolizing people we
like, you know, the quote never meet your heroes is because all
of your heroes fail you because they're only in it for
themselves. Elon is no exception.
I also love Elon. I think he's done, you know, for
for humanity is amazing. And I also love his cars and I
think his products are incredible.
However, I don't put him on some pedestal like he can do no
wrong. We have to be OK disagreeing
with our heroes. We have to be OK, you know,
having someone idolizing or, or looking at someone in a positive
light and having them change, having our values change and
being OK with moving that. And, and again, you know,
talking about aligned incentives, Bitcoin enables you
to do that. So I think, you know, the moral
of the story is adopt Bitcoin and don't idolize people.
Yeah, turn yourself into your own hero.
I love that. I love that.
All right, all right, all right,
let's let's pivot here and let's talk about what Adam's been
working on. It's been a minute, man.
So we're going to go into the culture and talk about Bitcoin.
Well, there's a lot of a lot of surprises, and I got a little
sneak peek of some stuff, but we can't, we can't, we can't fully
sneak peek some stuff. So we're going to just talk
about things that have happened. All right, let's get into it.
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All right guys, before we hit Bitcoin, well, we got a plug.
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All right, yo. Hang on, hang on, listen to
Ofti. Just subtle mention of the Texas
barbecue and I got to the Tennessee BBQ.
Holy love, hometown boy, I'm. Biased here.
I you know, I thought I used to know what good BBQ was.
Now I realize it's Texas BBQ above all.
Yeah, for just for everyone watching.
I got to hang ofti and I were hanging out in Nashville at the
at the Bitcoin conference and we went for BBQ multiple times and
this man was salty every single time being like, Nah, this ain't
real. This is this is way worse.
What are these people can't even call this BBQ.
So I. Don't know this, this BBQ's mid
and I'm like, is this good BBQ? I'm like, Nah, this is mid.
Like it's delicious obviously, but it's just not.
It just doesn't. I don't know what they do here.
They just know how to make barbecue in Texas.
So hey, it is what it is all right, All right anyways,
anyways, let's let's talk about Bitcoin.
Well, so Adam, man, how you been good to have you back on the
show super hyped about, you know, working with you guys,
partnering with you guys. I think 2025 is going to be a
huge year, not just for us here, you know Bitcoin well and simply
Bitcoin, but for Bitcoin in general.
But man you guys have been working really hard behind the
scenes. So I know you do have some maybe
you can do a live demo for people, but man, just teeing you
up, bro. How is everything going on over
there? Bitcoin?
Well, and then you can rant and then I know actually actually
before you do that guys get your lightning wallets out because
Adam wants to give you guys some sats.
So before before he's all ranted.
Want to pull up your? No, no, no, no, no, you, you
rant so they can get ready, so they'll have the wallets and
then we'll and then we'll pull it up.
Yeah, listen. So, OK, I saw comments earlier
which actually teed it up perfectly.
Bitcoin is your bank. And we were like, yeah, we also
believe this, you know, as you know, I am D banked.
I don't, I don't get a bank account here in Canada, but you
know, I'm also lucky that I get paid in Bitcoin immediately.
And so one of the things that we're trying to balance is how
do you allow Bitcoin in self custody to be your bank?
And there's two ways. 1 you got to handle the outflows.
How do you live your life and how do you spend, spend Bitcoin
to actually be able to, to pay for your life.
But the first thing you need is to be able to receive Bitcoin
from your employer. I don't know about you guys, but
half of our of our province here in, in Alberta is is working for
like oil and gas companies and they are decades away it seems
like from from paying their people in bitcoins.
So we wanted to give our customers a way to send their
paychecks to Bitcoin well, and then have Bitcoin automatically
sent to their self custody instantly right away the second
we get paid, which effectively allows you to get paid in
Bitcoin. This is on our mission towards
replacing your bank with Bitcoin.
Well, I do not want you exposed to the confines of Bank of
America or to, you know, whatever garbage policies you
know the Bank of the day is going to have.
And so the way to do that is to circumvent the banks completely.
We want you to be able to send your paychecks to Bitcoin well
and then receive Bitcoin in self custody.
And so we've launched direct deposit.
And direct deposit looks like this.
It's this little tab on the left hand side here.
When you click that, you set how much Bitcoin you want on each
and every paycheck that you get. You can have 60% Bitcoin, you
can go 5 or 0% Bitcoin, but I strongly recommend going 100%
Bitcoin, obviously, because we're not Fiat Maxis, we're
Bitcoin Bitcoin Maxis, and Bitcoin maxi means 100%.
But of course you do. Whatever is is kind of like
going to be the right thing for you and your family stacking off
of your paycheck. Next, you set which Bitcoin
wallet you want to send to and when you send it to a Bitcoin
wallet, you then click your direct deposit info and your
direct deposit info is going to be able.
This is kind of like a fake account.
So I'm just, you know, mocking this up here, but it looks like
this. So you get your, you get your,
your direct deposit info and you send this to your your employer,
your whoever sends you your paychecks, whoever sends you
money. Really, you can even send, I
mean, frankly, you could send this from one of your other
banks as well, but they send your paychecks to these account
numbers and then boom, Bitcoin gets sent instantly to self
custody. The second we get that money,
it's gone. It's out and sent to self
custody. So you effectively get to live
on Bitcoin. You get to adopt A Bitcoin
standard. We started having this problem,
especially here in Canada where it's like the banks are telling
our customers what they can and cannot spend their money on.
Some of our banks were saying you cannot send money to
Bitcoin. Well, because we don't want you
buying Bitcoin. And I'm like, OK, let's just get
rid of the banks entirely. Let's go direct from employer
straight to Bitcoin and then you know, we'll send the rest to
your bank because we don't decide who gets your money or
not. It's your money and you can
spend it however you want. So that's what we're, that's
what we're stoked on right now. And yeah, highly recommend you
go get direct deposit set up. Just set a recurring stack, 10
percent, 15%, twenty percent 100%.
Buy Bitcoin. Be rich, I guess.
Let's go choose Rich. Choose rich as the meme goes.
Hey, so there's a there's a couple comments in the chat and
and as I always like to tell you and and joke with you.
So this is available in the only country that matters, correct?
So. Hold on, Hold on, Adam.
The actual question is, is this available in New York State?
Yes, it is available in New York State.
All 50 states can benefit from this.
The limits are going to look a little bit different in New York
State. I think they're 5 grand rather
than 15, but I have to check on that.
But yeah, all 50 states, we, we are, you know, obviously working
hard to make sure that, you know, I, I think it's really
dumb and I cannot believe what New York State.
There's there's three problem states in the US and, and it,
it's shocking to me how how brutal and, and all the stuff
you have to go through to be there.
But yes, available in New York State and yeah, basically anyone
in the USA can have their paychecks immediately converted
to Bitcoin and sent straight to self custody.
That's like, that's set it and forget it, man.
You go to work, you, you grind in the Fiat mines and you come
home with Bitcoin and self custody.
This is, this is the future that I want my kids to see.
And as you guys know, this is what I build for people are
always like, you know, how do you, how do you get the like,
where does the inspiration come from for Bitcoin?
Well, or you know, this like this mantra of being able to
actually replace your bank with Bitcoin.
Well, and I'm like, I'm just building what I need.
I'm building what I want my kids to have access to.
And that's work hard, get paid in Bitcoin, spend as little as
possible. This is the This is the Bitcoin
standard, baby. Let's go, let's go.
All right. Well, I'm gonna pull up the
wishing well right now, but I don't know.
Yeah, yeah, go. On go on the wishing well note,
just while you guys are getting your Lightning wallets ready
also, you can now add your end pub to your Bitcoin Well
account. Let's go straight up.
It does nothing right now, but we are actively investigating
ways to integrate the nostril protocol.
It's kind of funny. We were talking about the the
Elon. There's 210.
We got to keep going till we got a good one though, yeah.
Yeah, I'll keep it. Going keep it going.
The so like obviously, you know, we were talking about Elon and
the everything app and X money and all that stuff.
It's kind of funny that Bitcoin well actually has a chance to
accidentally turn into this way because we're so focused on
independence and so focused on Bitcoin in self custody with the
nostril protocol. Like we could just integrate
your feed into your money app. You know, you could really have
there we go 2100. It's it's it's happening.
Feels like the well is primed. We could we could have and, and
integrate ways that your noster account is actually able to even
buy Bitcoin. You could, you know, there's a
world where you could just send Adm and buy Bitcoin straight
from your bank account or, you know, pay your rent with Bitcoin
straight that way. So I think that we're pretty
pumped on ways to to integrate the noster protocol, but you
know, we're going to need help from the community.
How do you want to use Noster in your Bitcoin well account?
So please go add your NPUB. Follow us on Noster,
primal.isitprimal.net, primal.net/winwell.
You can go primal.net/adam if you want to follow me.
And yeah, not social credit explicitly.
Not my social credit, not good. Explicitly not social credit
actually, there's a there's a Canadian here, VMAT, he says.
When will this be available in Canada I'm guessing?
You should be. Available there.
Yeah. No, not yet in Canada.
We're working on that, Adam. 'S listening to me.
Adam's listening to me. Do it in.
America First. Now I felt like our US product
was falling behind and so we had to spend some time and, and, and
you know, get off the off my back basically.
But now listen, we are actively working on this in Canada as
well. We want everyone in North
America to be able to work hard, stack Bitcoin in self custody
and then spend as little as they can.
And I think that yeah, one step towards just replace your bank
with Bitcoin. Well, this is something that we
are constantly talking about here in the in the office is how
do you replace your bank with Bitcoin?
Well, and it looks like office on a office on a bad streak.
So go sign up. I think if you use if you use
your ref code Opti I think you get 55 free.
Are we showing? We're all right, Let me I'm
gonna show our Bitcoin well, right now in the chat.
Let's let's do this. Or you could use
bitcoinwell.com/adam. No, no, no, don't do that.
That will also be fine, but. No, do not do that.
Do not do that. Sign up to this one.
It's in the chat. It's in the chat.
And then also actually, Kay, while you're here, Opti, so
check this out. So when you go here in your
account, you can add a lightning address and you you legitimately
get paid. Let let me show you.
So I'm just using like a a custodial lightning wallet for
my ref payments and my payments going out are literally ref
payments. I.
Wonder if you can? See this and then and then also
look up here you can see Lightning cats because my kids
and I have been feeding these cats on the Lightning network
which has been. Oh my God, that's awesome.
That is so cool. Shout out lightning cats dot IO
'cause you can go and feed. Spend 500 stats in this like my
my four kids. You know, it's becoming a weekly
ritual where we just basically sit down.
Have you seen lightning goats? Yes, yeah, same, same concept.
We do both of them. We do both of them.
It's it's it's unbelievable. So yeah, that's what I used lots
of my ref payments for is for feeding the cats and the goats.
But straight up like every time your referral uses their
account, you get 10% of whatever we make on the transaction sent
straight to your lightning address.
And that can obviously be custodial.
You know, you could use your, you could use your noster zaps
address, but I recommend go to your own note, you know, get a
payment address, hook it up to your note and then and then
send, send your referred stats right there.
It's it's just like it's the number one way in my opinion to
just have passive. You get the orange pill people,
you get to refer them to the safest Bitcoin platform on the
planet and then you get to earn sats to self custody.
I mean, let's go. Wow, safest Bitcoin platform on
the planet. I love that that's almost steal
that one with my, with my ads. Anyways, Adam, I know you have
to run right now, but and I, I know, I, I know I can't actually
do this and we can't really talk about it, but you did sneak peek
some stuff to me Monday that I know our audience is super
excited about. They've been yelling at us about
it for months now. So should we just drop it?
We should reward him and someone's been listening to us
yap for an hour. I mean, this is your company.
Do you know, do we have to cut through red tape here or are you
going to just sneak peek it? I know it's coming.
You told me it's coming soon, so hey.
I don't, I don't have the visuals ready yet.
I can maybe pull them up here. Let's see.
But we've been hearing a lot. I mean, part of this direct
deposit was a response to lots of the comments we've been
getting. People wanna stack and they
wanna stack frequently. And so let me see if I can get
it here. Basically, we've been working
pretty hard over the last, well, it feels like for the last 10
years, but really the last probably 10 weeks we've been
putting together the right steps so that you can have and here
we'll look at this, OK. Well, he's gonna do it.
He's gonna tease it. He's gonna.
We're gonna do. It we're gonna do it so that you
can get recurring buy on the Bitcoin well platform basically
gonna add. So first of all, we're jazzing
it up. It's gonna look absolutely
beautiful adding in a little bit of purple.
Purple is royalty and you know Bitcoin is royalty here, but
then adding the ability to set up, you know, you click that one
time button, you're going to set a weekly, bi weekly or monthly
buys, you know, straight from your bank, going straight to
yourself custody and then and then off we go.
And so I'm showing this to Opti on Monday and Opti's like, yo,
why no daily? You know, we're if you look at
this, it's like one time weekly, bi weekly, monthly.
Why no daily? And that's cuz we're also gonna
be adding this lightning protocol here so that once we
get lightning integrated, you're gonna be able to buy daily
Bitcoin straight from your Bitcoin.
Well, balance and you're gonna be able to yeah, have that sense
straight to your Lightning wallet immediately and that's
the way so recurring buy and Lightning coming soon to
Bitcoin. Well, you can go to
bitcoinwell.com. What's your what's your ref code
slash? Simply BTC or something like
that? Whatever it.
Is I think slash Adam is what it was.
Actually you can go. Use that one.
It's simply BTC. Simply BTC.
But definitely, you know, sign up.
We love seeing you guys push us. And I love personally when we've
got simply Bitcoin viewers, you know that like DM me and and
push me harder and say, yo, the apps, you know, doing something
weird. We got to get this fixed.
We're building for you guys. We want to enable independence.
That's our number one goal. And having the support from all
from all you plebs is is number 1.
So thank you all very much. And yeah, let's go team Bitcoin.
Let's go, let's go. Absolutely awesome.
Well, Adam, I know you have to pop off, so we'll just wrap up
today's show. Adam, thank you for coming on
for the audience. Adam.
Yeah, for the audio listeners, let's plug your Twitter and then
we'll wrap it up and we'll see you next time, man.
Yo yeah, Adam O'Brien under score on Twitter or
primal.net/adam on on Noster. Let's go.
All right, Adam. Well, thanks for coming on.
Super excited for everything you guys are doing and about to do.
And now maybe they'll stop complaining so much in the chat
over. Here, no more chat complaining.
Yeah, no, they'll stop yelling at me.
Keep. Keep complaining, just just give
us new things to complain about so we can always be improving.
This is the way. Let's go.
All right, Adam.
Well, thank you, bro. Peace out.
We'll see you next time. OK.
Well, choking on my celeb over here.
Opti, is this the after show? Yeah, So hey, look, we're gonna
wrap up right now, but Sophie has been saying that we should
do like an after show, after the show where we just sit here and
talk. But you got because.
That's literally what we do Opti.
Like we we cut, we do the and then Opti and I just sit here
and chat for like 30 minutes. Now, yeah, but I think you guys
would tune out so on that now, Sophie, thank you for coming on
two days in a row. It looks like the chat loves you
more than Nikko. So maybe we got a fire, Nikko.
I don't think so. I don't think so, but I think I
think they're just awestruck by a woman in Bitcoin.
Maybe, maybe there's. Many things out there.
Maybe they get girlfriends this year and they they won't simp so
hard for Sophie over here but. Maybe the number go up,
girlfriends go up, Yes, simping go down.
All right, well, maybe we got to bring you back with Nico on the
show again. We should.
We should do that.
OK, well, so thank you so much for filling in last minute.
We were actually supposed to have Dante on today, but, you
know, shit happens, guys. So we got Sophie, the
illustrious Internet Sophie on today anyway, so thank you so
much. Hang out while I wrap this up.
All right, y'all have a good weekend.
See you Monday. Peace out.
Let's go. All right guys, you already know
the deal. We stream live Monday through
Friday at 12:25. The show goes live at 12:16, but
we used to go live, but you know, a couple minutes late.
You guys can yell at me all you want, whatever, whatever.
Anyways, we love you. Have a good rest of your day.
We'll see you tomorrow. Last stream of the week with
just me and Nikka will be back on Monday.
He is currently in El Salvador at the Plan B forum.
So we're going to get some good content coming out of the
conference, but until then, we'll see you tomorrow and have
a good rest of your day. We love you guys, Peace out.
Today's episode was brought to you by bitcoinwell.com, a
Bitcoin only platform on a mission to enable financial
independence.