Yeah, we finally know the reason why the world's largest bank has
been attacking strategy and Bitcoin this past week.
It's a lot more insidious than we thought it was.
I would say on the verge of Machiavellian, some 40 chess
type of stuff. JP Morgan has partnered up with
BlackRock, officially launching a new Bitcoin product that's
essentially competing with Michael Saylor's 2025 Bitcoin
Playbook. What's really interesting on the
is on the same day they also released a new Bitcoin price
predicting 240,000 Bitcoin. Did JP Morgan just cancel the
big the bear market to really pump their bags?
I think that's the question of today, but I kind of want to go
down memory lane a little bit. And of course I'm joined here
with my legendary Co host, good friends and business partner
Optimus Fields, Co founder of simply Bitcoin.
And I will say happy Thanksgiving, everybody.
We're here drinking some Bailey's equivalent, having a
good time. We're working for you guys on
Thanksgiving. You can't really blame us.
But what I'm really saying is like, holy effing cow.
Like we went from Monday thinking that, you know, wow,
you know, Jamie Dimon was like doing this with his fingers and
he was twirling his mustache. He doesn't even have a mustache,
but a figurative mustache. And he was like, OK, I'm going
to take down MicroStrategy. That's not at all what he was
doing. What he was actually doing was
he was fighting strategy while simultaneously coming up with a
strategy a, a strategy equivalent product, which tells
me a couple of things because you got to look at the buried
lead here. The buried lead here is that
he's confirming that Michael Saylor's thesis is correct.
That's the alpha. That's the effing signal right
there, ladies and gentlemen, because he wouldn't be doing
this if he didn't think that Strategies Pay Playbook had long
term viability #2 he sees strategy as a long term threat.
You don't have JP Morgan reacting the way they reacted.
And of course we have all the receipts for you guys.
You guys know the deal here by now.
He wouldn't be reacting this way if he didn't believe that in
10-15 years strategies, playbook and thesis was correct.
Because if Michael Saylor is correct, he will be the richest
man in the world or the second richest man in the world.
If if, if Elon's thesis about these autonomous AI powered
robots plays out, I'm very, very bullish on.
Tesla. Long term, and I know Opti's
going to be very, you know, very it it, it is called the optimist
robot, right. So I understand why Opti
wouldn't like it. But the the, the the point I'm
trying to make though is that with sailors current position as
market leader with 650,000 Bitcoin and I think the second
largest treasury company is like Mara and 21 and they have like
50,000 Bitcoin. For them to catch up to
strategy. It's just it's, it's, it's a
monumental effort, right? So strategy has this like first
mover advantage. Now, if you were one of the
traditional banks and you're looking at strategy, the way
that I would look at strategy is like strategy is basically a
non, even though the Federal Reserve is non is is non
government entity. But the way that I would look at
strategy is I would say, Oh my God, this is like a non
sovereign private Bitcoin central bank.
That's right. I said it, I said it Opti, I
said it. I said I have no shame right
now. My my filters are are not
filtered. So the point I'm trying to say
is like, this is crazy. What just happened this past
week. This is wild.
This is bananas because like, essentially they try to trip up
MicroStrategy, shorting the stock, getting all this FUD.
The Bitcoin price went down to 80 K, and then they're like,
hey, guys, actually, we actually have a better Bitcoin product.
Yeah, that's crazy. So what am I talking about?
Let's check out this Yahoo article.
JP Morgan's structured notes offer potentially massive
returns if Bitcoin surges by 2028.
Now that makes no effing sense. Think about that for a second.
Right on Monday, they were flooding the market.
They're trying to market. They're trying to make the
market go down because whether you like it or not,
MicroStrategy or strategy, it's not called MicroStrategy more
strategy acts as like a proxy for the Bitcoin price in the
traditional finance and the financial markets.
So if you're shorting the hell out of strategy, the Bitcoin
price is going to go along, is going to go down along with it.
That's just going to happen. And then simultaneously on
September on, on November 25th, they come out and saying, hey
guys, actually, if Bitcoin surges by 2028, which is a high
likelihood, if we're we're being honest and sincere here, you're
actually going to make a shitake ton of money, right?
Like that's what's going to happen, right?
So let's take a let's take a look at some of this article JP
Morgan Chase has filed with regulators for a leveraged
product that would allow investors to bet on the future
of future price of Bitcoin and potentially earned uncapped
returns if the price of BTC falls by late next year, but
then soars by 2028. Now think about that for an
effing second, all right, think about that for a second.
So it kind of makes sense, right?
Why they were MicroStrategy while they're fighting Bitcoin
It, it works so good that we went down to 80 F&K, right?
You know, me and Opti are divided on this.
I still think we're going to have a not a crazy bear market.
I don't think we're going down 80% Seventy Ki could be 70%.
I I could be wrong here. I just don't foresee that
happening with the amount of institutional interest.
But I still am on the fence of like I've, I've felt this
feeling before in terms of my last bear markets 2018 and 2022
and I'm feeling that feeling. Opti disagrees.
Opti still thinks we still have gas in the tank.
We shall see. This is not a a speculative
chart. Boy type of show.
This is more of like a culture type of vibe show slash
entertainment show. But this is nuts.
This is crazy. You know, it's so interesting to
me because I was talking to a buddy of mine and he's a good
buddy of mine, man. And he worked in the traditional
markets. And I'm like, dude, they're
manipulating the price of Bitcoin.
And he's like, bro, that's some weak sauce type of shiitake,
Nico. Like, what are you talking
about? They're manipulating the type of
dude, Wall Street. This is how Wall Street
operates, bro. This is not manipulation.
This is their normal course of business, right?
Like what? Get this manipulation stuff out
of they're trying to shake you out of their bags, shake you out
of your bags so they can buy your Bitcoin.
Like it comes down to that. Like, welcome to Wall Street
capitalism, if you even call it that.
Welcome to the adults. Table right?
Welcome to the adults table. Exactly.
So anyways, this is a a Monday filing with the SEC from the top
bank shows that the proposed leveraged product in the in the
form of a structured note would allow investors to bet big on
the on the leading cryptocurrency via the BlackRock
ETF. The financial instrument has
some quirks, however. According to prospects, if the
price of Bitcoin ETF is equal to or above the set price by
December 21st, 2026, then JP Morgan will JP Morgan Chase will
call the notes, providing a payment of at least $160 per
note. Excuse me, but if the price is
below that mark in a year's time, then the notes will keep
riding until 2028. In that case, if the product is
approved by the SEC, of course, investors would be able to earn
1.5 X returns on whatever gains the cryptocurrency marks makes
by the year 2028, potentially clearing the way for massive
rewards. JP Morgan called the potential
return uncapped, which means if Bitcoin soars to new highs by
2028, which means the ETF share price would follow suit, then
the amplified gains could be sizable indeed.
But if Bitcoin price crashes hard by 40% or more than
investors would lose a substantial portion of their
initial investment, according to the filing.
Big risk, big reward or loss quote.
Bitcoin has historically exhibited high price volatility
relative to more traditional asset classes and has
experienced extreme volatility in recent periods and may
continue to do so, which may increase the volatility of the
fund, the filing notes. That's some sketchy ass type of
wording. So again, if this product was
released in a vacuum in and of itself, I wouldn't be
suspicious. I would.
I would be. It's not suspicious as the
incorrect word because I think we all have to put our big boy
point, a big boy pants on now or big gal pants.
You know and understand that this is Wall Street's game now.
Bitcoin is Wall Street's game now.
Like this isn't what we're used to, which is this retail driven
type of market. This is not the situation
anymore. So now you have professionals,
now you have people the most the the wealthiest, smartest.
There's a reason it's called smart money, right?
Firms in the world that are behind these banks are behind
these products and when they release this type of product,
you got to ask yourself, OK, so it's big reward.
There's the carrot, but if the if it goes the other way,
they're like, you know what, you took the risk, man.
Like it's, it's you took the risk that's on you.
Like we told you so in the small letters and you guys decided not
to like that's not our fault. So this is what's happening.
Wall Street is getting into the Bitcoin game.
The market is fundamentally changing.
I can say for, for a fact, I'm very confident you, you know
nothing for a fact, none of this is financial advice, but I'm
very confident from like a gut instinctual feeling that I think
the Bitcoin markets have fundamentally changed since the
introduction of the Bitcoin BlackRock ETF in January of
2024. I think the markets have
changed. I think that it's just a
different ball game now. And now you have the
professionals, because that's what they are the professionals
entering in and they're seeing all these wealthy ass retail
people that got filthy rich during the last pumps, right?
And I think they're like, I'm going to take this kids candy.
I'm going to take, you know, I'm going to take this.
This retail kid thinks he knows what he's doing.
OK, you bought Bitcoin 300K. Good for you.
I'm going to shake you out of your bags, bro.
I think that's what's happening. So anyways, moving on to this
next piece of source material. Here's Adrian part of Bitcoin
for corporations is the timeline of the MSTR hit job is complete
and it all makes sense now JP Morgan and Morgan JP Morgan and
Morgan Stanley are launching leverage black Bitcoin ETF
products. The the connection who is MSCI
Morgan Stanley Capital International the play the index
threatens to displace their competitors MicroStrategy and
Metaplanet, and the banks file products to capture displaced
capital into the Black Rock ETF. The updated timeline Jim Kanos
announced his long BTC short MSTR trade a bladed attempt to
sway market sentiment. July 7th, JP Morgan implements a
firm wide margin margin hike on trading MSTR 50% to 95%.
August 29th, JP Morgan releases a fact sheet and a preliminary
pricing supplement for leveraged products linked to the Black
Rock ETF. September 12th, Metaplanet
announces a capital raise. MSCI panics realizing more
companies are adopting the Sailor playbook at scale.
MSCI announces an extension of of its ongoing consultation with
the investment community exactly 16 minutes before President
Trump's tariff announcement that triggered the global flash
crack. This is bonkers.
Holy cow. October 14th, 4 days later,
Morgan Stanley, the creator and former parent of MSCI, files
with the SEC for a contingent income auto callable security
link to the BlackRock ETF. November 14th JP Morgan files
for its own BlackRock ETF structure.
No November 20th, the so-called kill shot on the exact same day.
Again, there's no conspiracies, but there's also no
coincidences. JP Morgan releases quote the
free writing prospects to sell its BlackRock ETF note JP Morgan
dredges up the 42 day old MSCI note to scream delisking risk.
Present day we still see reports of frozen strategy shares out of
JP Morgan and failure to deliver spikes in strategy.
They aren't protecting you from risk, they're trying to kill
strategy to engineer a creation to their products for Bitcoin
leverage exposure. Holy effing cow.
The Thanksgiving Day is the wildest 1 and I'm here with my
boy drinking Baileys. Happy.
Thanksgiving, everybody, but this is some crazy.
Remember on the Monday show, you guys are all commenting, you're
like yo, Nico's is, is passionate, feels good about
this. He's like, he understands it.
This is some movie level crazy financial type of warfare
shenanigans. And I'll tell you what, if I
were to pick between team Jamie Dimon and Team Sailor, I'm on
Team Sailor every day of the effing week.
Now is that a supplement to spot Bitcoin in self custody?
No, I think that's the revolution for individuals.
But whether you like it or not, as Jeff Booth says, the thing
about Bitcoin is that you're going to have to be OK with even
your worst enemy using Bitcoin. Now, that's not to say that JP
Morgan or Sailor are enemies, but that's to say that there is
an inevitability of Wall Street wanting to benefit from NGU
technology. Now, what's really crazy here is
that Wall Street right now, specifically the largest bank in
the world and one of the largest banks in the world is like, you
know what, I really like what sailors doing.
We actually want to benefit from that the most, which is, and
then they're willing to FUD and crash the Bitcoin price.
And according to this timeline, they're willing to use their
connections at the White House to get as many people into their
product versus the strategy product, which is just wild.
Here's Mark Moss and he says looks like JP Morgan likes
sailors model give investors A safer, less volatile return on
Bitcoin, capping the upside, even the downside while they
capture the bulk of the move. Here's Adam Livingston.
JP Morgan just admitted Bitcoin won.
JP Morgan just filed structured notes tied to Blackrock's
Bitcoin ETF with leverage, upside, conditional early call,
and multi year convexivity exposure.
To decode this, you need to understand what banks actually
use these notes for. This is JP Morgan selling
convexivity on Bitcoin into institutional demand while
hedging the other side internally?
This product shows JP Morgan believes Bitcoin is too big to
ignore and too profitable not to financialize, which I said in
the very beginning. Here's TFTC and they say JP
Morgan goes from attacking bitcoiners to declaring Bitcoin
a macro asset class in the span of a week, which is what we told
you guys on Monday. On Monday.
Nico, Nico, I think it's totally worth the read.
Read, read this paragraph 'cause I mean, I'm, I'm gonna take a
victory lap on this one, but read the paragraph and then
we'll talk about it. Excuse me?
Happy Thanksgiving everyone. Crypto's emerging as a tradable
macro asset class. Crypto is moving away from
resembling A venture capital style ecosystem to a typical
tradable macro asset class supported by institutional
liquidity rather than retail speculation.
In the early stages, crypto projects received large private
rounds of funding and fewer structure to trade in in a
liquid scalable way. With retail investors buying
late after valuations had already risen sharply, retail
investors participation has fallen and the space now depends
depends more on institutional investors to stabilize flows to
reduce volatility and anchor long term prices.
Cryptocurrency still present investing opportunities as they
are relatively liquid yet structurally inefficient and
liquidity remains uneven resulting in large price
fluctuations. Cryptocurrency prices are now
more influenced by broader economic trends rather than
cryptos. Predictable for your having
cycle, the process where the rate of new supply of Bitcoin is
cut in half and followed by a bull market rally.
One speaker noted that it could potentially reach $240,000 over
the long run, thus indicating it is a multi year growth play.
That's right. You have JP Morgan basically
admitting if you read between the lines that, hey, I think the
four year cycle is over. It's over, dude.
It's over. But this has been an incredible
week. Holy cow, all the things that
have happened on Monday, we thought, Oh my God, Jamie Dimon,
he's pulling out his knives. He's like he's threatened by the
price of Bitcoin. No, we underestimated him.
What were we thinking? What were we thinking?
This guy's a capitalist. He doesn't take, he doesn't take
any of this personally. He's not ideological for him.
He's thinking, how do I get rich with this thing?
And strategy could potentially be a roadblock for my bank or
the bank that I represent to get wealthy off of this.
So how do I make sure that I FUD the shiitake out of strategy to
get people to buy the JP Morgan product now to add Simon Dixon's
take on all this to like kind of wrap it up and put a nice bow on
top. I would say that fundamentally
the way that Simon Dixon says, I forget what his exact term was,
but it's essentially like these are financial, industrial.
It's a financial industrial complex.
No, no, financial industrial complex and.
Financial weapons of mass. Exactly so like.
Financial destruction. Simon Dixon calls it Weapons of
weapons of like. Financial destruction.
Is weapon. Basically this all represents.
The proof of weapons. Network, the proof of weapons
network and then this represents the financial industrial
complex, right, which is inherently anti Bitcoin by the
way. But The thing is we would not be
doing our jobs if we weren't covering this because if you are
to get anything from this and our audience is not
sophisticated institutional investors.
I'm I'm pretty sure that there's a percentage of you guys that
are that watch us, you know, for that, but our audience is
bitcoiners. And what I would take, what I
would want you guys to take from this episode is what Adam
Livingston said and the conclusion that I came up with
when I was reading this. This is JP Morgan.
This more importantly, this is Jamie Dimon admitting that
Bitcoin is here to stay. This is Jamie Dimon admitting
that number go up. Technology is too irresistible
to ignore. This is Jamie Dimon admitting
that Bitcoin has won. Now what I'll tell you guys is
you still have a job to do because fundamentally, this
isn't, this is a revolution of individuals.
This is a revolution of millions upon millions of people all
around the world, Everyone who's tuning in right now to the most
watched Bitcoin Daily Show on planet Earth.
This is a revolution of you guys.
This is a revolution of you guys taking sovereignty back, putting
Bitcoin into self custody. This is what it is fundamentally
about. And don't let any of these Wall
Street financial shenanigans distract you from the mission at
hand. And the mission at hand is to
end the tyranny of central banking.
And how do you do that? You cannot do that politically.
It's politically unfeasible to do it.
How do you do that? You opt out.
You opt out by putting Bitcoin into self custody.
That's how you do it. That's how you do it.
You voting, traditional voting matters.
It totally does. Not trying to take anything away
from that, but vote with your wallet and you vote with your
wallet by taking your energy, your time, your work, your
effort and opting out of the system and opting into self
custody. So this is fun to cover.
This is great. This is like, you know, this is
like the equivalent of like gossiping in terms of like, Oh
my God, look at what all these financial institutions are
doing. But the signal here is holy cow,
dude, They they like Bitcoin. They they, they not only like
Bitcoin, they want to benefit the F out of Bitcoin.
They want Bitcoin for themselves.
They want all the benefits from NGU for themselves.
That's what's happening right now.
Wall Street right now is in a civil war right now Wall Street
is battling it out to come up with the best financial product
to offer their institutional investors so that they can, you
know, sell them a reason as to why you know you should buy
their product instead of just buying spot Bitcoin.
Whatever people are going to do that.
You know, not everyone's comfortable buying a bit key
even though it makes self custody incredibly easy.
Go to bit key dot world today. Use promo code simply.
Not everyone's comfortable doing that for some reason, but you
know. This is crazy.
Dude this is wild. Remember on Monday?
We're like, dude, like he's attacking and he doesn't get it.
Dude, we underestimated Jamie Dimon.
Jamie Dimon. I don't know if I did.
I think you. Are maybe I did, but Jamie Dimon
is a is a 100% capitalist. He does not give a flying F
about ideology, about the system.
He cares about how do I make the most amount of money for my
bank? And if Bitcoin is the mechanism
of which I can do that with, so be it.
That's my bit. Happy Thanksgiving everybody.
Cheers to my brothers in arm, my brother in arms, Optimus Fields.
But this Irish cream and milk's giving me cottonmouth for sure.
But anyways, I want to hit on a few things.
One, I've been telling you guys this for a while.
I, I've been calling it the billionaire flood playbook.
You know, you can call it just how Wall Street acts, but it
always happens the same way. It's the classic Wall Street
playbook, especially when they get into a new asset.
It's very simple. Once you spot it, you can't not
see it. And I've been seeing this play
out all year long. Again, it's always goes into,
you know, don't listen to what they say, watch what they do.
And it's it goes like this very simple.
You know, you spread FUD, you crash the price of the asset,
you scare all the plebs away, you scare all of the retail
away. And then you scoop up the dip
with new products. And if we didn't have this JP
Morgan story of essentially, you know, attacking strategy or, you
know, pulling up a very old press release to kind of take
their price when they were being weak.
And then literally at the very bottom of that attack, they
launch a new product and and you weren't aware of how this was
going. Yeah, Sailor knew exactly what's
going on. It's it's very obvious once you
understand what's going on. Again, I've been calling it the
the Bitcoin billionaire FUD playbook.
You can call it just classic Wall Street, you know,
mechanisms, but it always plays out the same way.
They FUD it. They try to crash the price.
They try try to get people to basically sell their holdings
and then they launch a new product.
If we didn't have this new story come out as it did, then I would
just be speculating on it for a while.
And you guys would be like, yeah, Opti literally has a 42 IQ
because he he's just speculating, guys.
We have literally the proof that this is what they're doing.
Hence why I keep telling you, and hence why Nico and I are
arguing over what the price might be.
Nico's still like, it's a bear market, bro.
And I'm like, yeah, it looks like a bear market, but I think
what is going on is we are fundamentally underestimating
the new investor here. And it's the institutions and
they understand what this thing is.
Remember, this is the only year that Bitcoin has and
outperformed the S&P 500 on a quote UN quote bull market.
Bitcoin, you know, underperform S&P 500 underperformed gold.
Usually Bitcoin has outsized gains.
What Wall Street is used to is like 15, maybe 20% tops a year.
Like if you get 20%, if you get 25% gains a year, you're killing
it on Wall Street. Here's all of us 42 IQ
bitcoiners just stacking, huddling, don't care about
anything, just trying to accumulate and you know, making
561020 plus games. You think they're coming into
the space after it's their first year that they're able to get
into it and not trying to get a good position and also not
trying to get these outside outsize games.
Like it just made no sense to me.
Hence why I'm like, look, I I'm looking at the charts, you know,
you guys know me. I'm leaning into being a chart
boy. I'm like, all right, you know,
let me see if my friends have any, any signal in the charts
right now. And if you're looking at the
charts, it does look like we're entering a bear market.
It does look like we might drop. I know I was trolling Nico.
He said like 30 K Bitcoin. I'm like, bro, you lost the
plot. Like it's not going 80% down.
I've been thinking it's probably going to go sideways.
And this is before I had the data.
I'm like, it's probably like 80 ish is probably where, you know,
the bottom of this dip's going to be.
It's going to go sideways and then it's going to start its new
leg up. And then as this week progressed
more, we got more information, more data that, you know, the
whales are scooping up right now.
Institutions are buying this dip up.
And as much as I don't agree, or rather don't listen to what JP
Morgan says, there is a kind of portion of what JP Morgan says
where it's not just trying to misdirect the retail plebs.
They are actually trying to give signal to their wealthier
clients. So it's one of those things
where, like, they tell you what's going to happen and then
they fight it. And you kind of have to know
what's the signal and what the noise is.
And when I saw that screen grab, you know, who knows, 240K next
year, everyone's kind of thinking the four year cycle's
over. But the take away I got from
that screen, that screenshot about where they said 240K is,
institutions are driving this market now as we've been
covering all year long. Retail is dead.
Retail is nowhere to be fine. There's no retail interest.
The Google search trends are wrecked.
People probably have heard about Bitcoin.
They're just not coming back into Bitcoin yet.
Also, inflation's getting getting crazy.
The economy's feeling very weak. People are feeling very poor, so
they don't have extra funds to go into risk assets.
Therefore retail's been nowhere to be found.
The only people in Bitcoin all year long are Bitcoiners.
It's Bitcoiners and institutions.
So that's been my kind of theory, my my thesis all year
long, even though I've, you know, very clearly been wrong
about where I thought the price was going, at least in the first
half. Who knows?
Hey, we got we got December to still.
Prove me right. But I was just watching
everything I've been watching and I'm like, yo, OK, well,
there's a new investor, there's a new buyer.
They're fundamentally looking at this thing different than
everyone else is. They have longer term
perspectives. They have, you know, very, very
covert ways to get into the market, make sure they're not
moving the market and they want to acquire this thing.
How do they get this from you? Is they scare you out of your
bags? And I do have some data to
basically show retail has been getting cooked right now.
Retail is selling while institutions are buying.
This is why I keep telling you, like, don't listen to what the
institutions are saying. Do what they do.
JP Morgan has been fighting Bitcoin for years.
Then what did they do? They're the authorized
participant of the I Bit BlackRock ETF.
They fudge strategy, and then what do they do?
They basically drop a MicroStrategy copycat Bitcoin
note like the same week. If you're not buying and
accumulating right now, you are totally going to get left in the
dust if you are selling thinking that the four year cycle is
going to play out. I could be wrong that the four
year cycle is going to be still intact.
But from my perspective, I think the more Max Payne scenario is
you think the four year cycle is playing out and then we RIP in
2026 and you're trying to trade the tops and trade the bottoms.
To me, that's too big of a risk. I'd much rather hold my coin
down 5060%, be able to, you know, purchase more, DCA more.
We have a good business. It's coming in.
I have cash flow coming in. Yeah, it's going to be brutal.
The last bear market, you know, almost absolutely just mentally
killed me. But I think the Max Payne
scenario right now is everyone thinking the old models are
still working and then it absolutely rips in 2026 and it's
the institutions, it's Wall Street that get rich and all of
the true believers are waiting for a pullback.
To me, that is Max Payne. As I've been telling you guys, I
think the biggest attack going on in Bitcoin right now is Wall
Street wants your coin. Wall Street wants to get into
this. They want to insert themselves
as middle man. The real war is Wall Street
versus your Bitcoin in self custody.
This is what this story is telling us right now.
They don't like Saylor. I mean, you could argue that
they're still on the same team. They're both Wall Street, but
they're still competition within this.
Even though JP Morgan and Morgan Stanley are both huge banks, I
know for a fact that Jamie Dimon wants to be the number one bank.
It's like the same thing. Like, yeah, you're billionaire.
It's human nature. Exactly.
So they're looking at Sailor's stack right now and they're
like, OK, how can we get that big of a stack?
I don't think they can, cause Sailor just absolutely went
bananas the last couple of years, four years or whatever it
was five years. So they're trying to figure out
ways that they can acquire a huge stack.
They want to essentially take Sailor out, even though they're
all basically playing the same game.
So play the same game, just keep accumulating.
Yes, maybe we go down, maybe we don't.
The only safe move is to acquire more Bitcoin and take it in self
custody because as we're all watching right now, they are
trying to position themselves as a as Bitcoin intermediaries.
This is what's happening. This is the game plan right now.
They want to acquire Bitcoin. The only way they can really get
Bitcoin is to force you to sell your Bitcoin.
So as we always say, stay humble, stack sacked, but most
importantly, stay solvent. That's the most important
aspect. Of this, I think, is the most
important. Cheers my friend.
Happy Thanksgiving everybody. I didn't think that this type of
story would break on Thanksgiving, but this is crazy.
This is like some Wall Street type warfare.
We have insights into it. I think Opti's commentary was on
effing point, but I would say is like guys, this is confirmation.
On Monday, we thought that the system that the biggest bank or
one of the biggest private or one of the biggest banks in the
world was still fighting Bitcoin.
We just got confirmation that not only are they not fighting
Bitcoin, they're actually trying to benefit from number go up
technology. Right.
Bitcoin's for enemies, right? So that's effing crazy.
Close up, close up on the on the drink.
That's effing. Crazy.
So anyway, bro, it's Thanksgiving.
We got to, we got to take it easy a little bit.
Yeah, guys, this is this is all Nico's fault.
I was sitting here like getting ready for the show.
He's like Thanksgiving, let's pull out the Irish cream and get
this show a little lit. I'm like, bro, I got to eat
breakfast. We got.
The family coming in like 2 hours bro like.
You know, and we're still here for you guys.
Giving you guys the signal, giving you guys the sauce, so.
And then so at dinner tonight, guys, I think the big.
Bazooka for you guys is like. OK, you know, uncle, grandma,
mother, brother, you've been telling me to not buy Bitcoin to
sell my stack. Well, what do you think about JP
Morgan, the biggest bank in the world, doing whatever they can
to acquire this Bitcoin from me? I think that's when you do, you
know, flip a couple of. Birds and be like I'm buying
more Bitcoin. Smash, buy, smash that Bitcoin.
Anyways, I do want to give a shout out, of course, to our
lead sponsor. We will be giving away some sats
by the way, towards the end of the show.
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So anyways guys, go to bitcoinwell.com/simply today and
stay tuned till the end of the show because we will be giving
away some sats via Bitcoin well through the Bitcoin Wishing Well
contest. Anyways guys, this is going to
be a fantastic show. We have tons to cover today.
Happy Thanksgiving. We're going to be right back.
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Recording the Bitcoin price is $91,470.
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If you're buying Bitcoin right now, you're getting it at a 27%
discount. Why are you laughing?
The chat Nico's feeling, the Baileys, and then you're doing
like ASMR. I am feeling the Baileys.
I'm feeling good. I'm, I'm, I'm grateful for you
guys. Cheers.
Yeah, someone kind of mob. So this is a fantastic show.
I don't know what you're talking about.
I I'm just worried it's gonna, it's gonna spiral very quickly.
This is not spiral dude, we're professionals.
I don't. Know what you're talking about?
So OK, I do want to give you guys the I do want to talk about
this. We talked about this yesterday.
This is actually a very serious topic, so I do want to focus on
this. The EU says chat control is
voluntary. We were talking about chat
control yesterday, so the breaking news is that chat
control's back, but slightly changed, apparently.
From my understanding, it was quietly passed in the EU, needs
to be in the EU Council, needs to be discussed in the EU
Parliament, slightly changed. No back door for encryption, I
think that's good. No for scanning, but I think
where they're getting everyone is the age verification.
So I again, I think that this is like setting a very dangerous
precedent. They're saying that EU says chat
control is voluntary. If you don't scan your user
messages, your app will be labeled as high risk.
So that's not voluntary. Ladies and gentlemen, that the,
the, the exact political term for that is soft power.
So what is the definition of soft power?
Soft power is like how the sold the, the mechanism of how the
social credit system works. So in China, it's not like
they're coercing you into certain behaviors, but they're
incentivizing you into certain behaviors.
So if you speak I'll of the government, you get punished,
right? In terms of the for the social
credit system, if you create an app that doesn't have chat
control or better said, if you create an app that doesn't
allow. The EU bureaucracy to look.
At everything it's considered high risk.
That is a form of soft power, right?
Because on the App Store or in the Google App Store the the
equivalent. Of that, imagine you see an app.
That says high risk, like and if you're not in the know, if
you're not watching simply Bitcoin or if you're just ignore
me and you just, you know, like to get about your life and you
know, you're not in the know. You just you just not in the
know. You just wanna get about your
day. And you see an app that says
high risk, What are you gonna do?
You're probably gonna look at that app and you're like, that's
a high risk app. I don't know about that, right.
So of course, like this is, this is called soft power, and that's
exactly what they're trying to implement here.
Last thing I'll say. Is, you know, and again, this is
all interconnected. It's not a coincidence that the
digital ID, the central bank, digital currency and chat
control are all being implemented in the European
Union at around the same time. That's not a coincidence.
What you're seeing is an attempt to coerce people into a closed
system, a system of which they can control.
I think it put the fear of God in them that you saw the rise of
independent media, you saw the rise of non sovereign
alternative money like Bitcoin. And I think you what you're
seeing is you're seeing the unelected bureaucracy, what we
call here in the United States, the administrative state react
to that like white blood cells. This is the reaction.
The reaction isn't let's pivot and like, actually let's look
within ourselves and say, you know what?
We actually need. To improve.
No, no, no, no. They're doubling down.
They're basically saying we don't need to justify why you're
paying these taxes. We don't need to justify why we
have this unaccountable power. We don't need to justify why
politicians don't have to go through quote, UN quote.
Chat control. But the populace has to go
through chat control. We don't need to justify any of
that. What we're going to do instead
is we're going to Co reverse everyone into using these
systems so that we can control you.
I'll tell you guys something. This would be something that the
Soviet Union would foam at the mouth on.
They would they would they would be the the fact that they can
even think that they can get away with this.
This would be any tyrant's like dream of doing like the fact
that this is even discussed or even like seen as feasible in
these so-called liberal democracies.
We played you guys a clip of the head of the EUI forget the exact
of of Ursula yesterday, right? And she was talking about to
protect democracy, we need a democracy shield.
And what that democracy shield means, ladies and gentlemen, is
we actually need censorship and chat control, right?
Which is effing crazy, right? Because the whole point of
democracy is you get people to disagree and discuss and have
discussions with these types of systems.
That's incentivizing the exact opposite, because who is to
stop? The party in power?
This is why the First Amendment is structured how it is in the
United States. It's structured the way that it
is in the United States because the founding Fathers had the
wisdom to understand that if the government had the power to
censor speech in order for them to maintain power, they will
inevitably pass a law in order to do that.
Which is why the First Amendment is the the First Amendment and
not the second or the 3rd or the 4th or the 5th.
The Constitution in the United States is structured not to
protect the government from the people.
It's structured to protect the people from the government,
which is why the First Amendment is freedom of speech and the
Second Amendment is the right to effing bear arms, right?
It's literally saying like, yo, like we know what happens when
there's too much centralization of power, right?
Unfortunately, our friends across the pond don't have those
type of constitutional rights and protections and it's going
down this dystopian path. I don't know how else to say it.
Like it's very sad. I love Europe, I was in Europe
all summer. Madrid is fantastic, great food.
I got. I got.
Kind of tired of the Harmon
Serrano after a while, like after two or three weeks.
But Despite that, it was great. I saw Madrid game, went to
Latvia, went to Finland, spent some time in Italy, got lost in
Italy. That was pretty cool, but it was
nice. So I love Europe.
It's dope. But like when you see this type
of stuff, you're asking yourself like, how is this improving the
lives of everyday people? Because I don't see how it's
improving the lives of everyday people.
I see how it's like solidifying control.
It's solidifying power in the, in the, in the hands of
politicians, I and, and at the end of the day, you know, and
perhaps this is the way that you look at economics and such and
you can have a discussion about. This but like.
Government isn't productive. It doesn't make anything right
like that little like water water bottle thing that they
have in Europe. There's a little tab where you
can't completely take off the cap.
And then like, meanwhile, on the other side of the pond, Elon is
literally landing effing rockets and catching them with giant
effing arms. Like you're it's, it's such a
good meme because it compares and contrasts.
Like it's like you have entrepreneurs building and then
you have regulations, right? Like it, it's like, what do you
want? You want one or do you want the
other? Like, you know, and I get
there's pros and cons to two right to the both of them, but
like, I would rather live in a society where entrepreneurs are
allowed to build things. They aren't drowned in
regulations because entrepreneurs are fundamentally
the ones that are driving to make society better.
They're the ones taking the risk.
They're the ones actually innovating.
They're the ones actually building.
Governments don't build anything.
And better said, governments don't build anything
efficiently. They do not do that.
They're very, by definition, they're very inefficient because
there's no price signals to government.
If a government makes a mistake, no one gets fired.
They don't go out of business. There is no price signals
whatsoever. If an entrepreneur, if we make a
mistake here at Simply Bitcoin, if we make a mistake, we've made
catastrophic mistakes. But if we've make mistakes
before, we will go out of business.
If a government makes a mistake, they don't go out of business.
Not only do they not go out of business, they stay in power and
they have a money printer behind them.
There is no price signal that's telling them you are doing
something wrong because the price signals are the incentives
for people to make adjustments. So that's my criticism of this,
of this chat control stuff. And last thing I'll leave it on
is this, this post by Simon Dixon, which says, tell me
another way to own your money without a bank, spend it
globally without government permission and have a fixed
supply that can't be changed by a central bank.
You won't find one. I've spent 25 years searching,
building and investing and I only found Bitcoin.
And he's replying to someone posting his posting his tweet.
It says go further. Bitcoin is all bad everywhere.
Even if someone wants a trustless protocol, some form of
automated banking, we can do much better.
And I think Simon Dixon's response to that is very
powerful. And again, we believe that
fundamentally here at Simply Bitcoin.
Before I pass it on to Opti, you guys, if you want to support the
show, we are funded by our partners.
I strongly suggest go checking them out there.
They're fantastically awesome. But you could also go to
simplybitcoin.com and you can go check out our merch.
It's flying off the shelves. We got like 10 orders yesterday.
We only buy this merch in limited supply, right?
So you want to get yours wall? Supplies last and we do not drop
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beforehand. We buy from a very trusted
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They're Bitcoiner love them and we pay attention to details.
So the tags will say simply Bitcoin, it will say Bitcoin or
slavery on the back of them. And these are the types of
hoodies. You know what I'm talking about
when I say this, that you wear them and you don't want to wash
them because of how comfortable they are.
So this is very high quality merchandise, very high quality
material. And this is something that you
can wear at home. This is perfect something that
you can wear on Thanksgiving. If you want to flex on that
uncle, that is, is, you know, talking, you know.
Well, maybe Christmas at this point.
Mad smack on you and saying hey got hey I just beat you with my
S&P 5. 100 in gold bro. And you can, you know, proudly
wear your Bitcoin merch. But anyways, I'm going to pass
it on to Opti. I've been I've been on a
soapbox. Yeah, yeah.
You have feeling good. I'm going to add the sweet,
sweet in the pot guys. We are doing a Black Friday
sale, so I believe it's 21% off if I remember correctly.
Our boy wine's been yelling us about that.
So it's on sale right now. It'll definitely be on sale for
tomorrow. We might, we might let it run
till the weekend, so go get it anyways.
Going back to the, what is it? Chat control, EU chat control,
That's what they call. It OK so first of all I will
caveat this where I am very proud of my European ancestry,
my mother is very proud of my European ancestry, but I'm very
happy to be an American cause Europe is absolutely cooked.
It's insane to me that the politicians out there can even
get out publicly and say this stuff without people, you know,
So just going absolutely bananas, like it to me is
insane. But I did so I did randomly off
topic. I watched this like Reel last
night on Instagram and it was like some European and she's
like, Americans are such strange creatures.
Like they, they are a breed of the of their own.
And I'm like, yeah, that's literally what we are.
When you look at what's happening in Europe, you're
like, how does anyone with two brain cells actually maybe 3 be
nice. I I'm trying, I'm trying.
How does anyone with the same amount of brain cells that I
have critical thinking, critical critical thinking?
Well, the, the question is, it seems like they've lost critical
thinking. It seems like they're just hook,
line and sinker. But but.
I, I I would. Push back against that and I
would say Opti like it is it like I gotta get the Baileys out
of this? Hold on.
Get it out of the shop by Gregory.
I would push against that and I would say like, you know, if you
look at take a look at this news, bro, they they apparently
passed this according to the source.
Yeah, yeah, and the dead of night.
Behind closed doors. Which really reminds me of, you
know, the creature of Jekyll Island.
It's literally the same place like.
Again, like you can't really criticize their critical
thinking. Skills when they don't have.
Yeah, OK, true, true. Yeah, I agree.
OK, I agree with that. Now the second point.
Is really probably the most nefarious one, especially for us
in America, for anyone in the first world, obviously any, I
would say globally, but Europe is historically kind of a test
bed for all of these really bad globalist kind of policies,
projects. And so you got to think of the
2nd order effects. If they're trying to push this
through in Europe, then you better expect that they will
most likely push this in a country near you or rather in
your own country very soon. If this does succeed, if they
are able to essentially backdoor this policy, then you're going
to see the propaganda get turned into OverDrive and they're going
to be like, look, look what Europe's done.
The US needs it, every other country in the world needs it
'cause they're so progressive and they're so ahead of the
curve. And I think that's what bitcoins
are fighting like let's, you know, Jack Dorsey, for instance,
with the new bit chat app, you know, using I, I forget what it
is like FM, you know, signals so that you can.
Was it FMI? Think it's Wi-Fi and Bluetooth.
Wi-Fi and Bluetooth, OK. And basically or Noster, you
know, just like protocols that they can't shut down, Bitcoiners
are actively not only worried about this type of stuff, but
they're building products, building tools so that even if
you are in these countries, you still will be able to
communicate. So, you know, it is always
darkest before the light, I guess.
But it is a very scary trajectory that we find
ourselves globally right now. And This is why I'm a Bitcoiner.
This is why I believe in Bitcoin.
This is why, oh This is why I believe that.
Dude, are we drinking? This whole bottle this.
Is why I believe that Bitcoin will win.
This is why I believe incentives will win.
It's gonna take a while because as we see, there's still a, a
huge lack of education. There's still a lot of people
that don't under that bit don't even understand the problem,
that don't understand what's happening in real time around
them. And it, it's just absolutely
terrifying. And of course, I, I would argue
most of this is by design. I didn't learn any of this in
school. This is all stuff I've learned
outside of school. And you do have to push back
against people calling you all kinds of names and saying you're
wrong like it. It's not that easy to get here,
and I understand why some people kind of shy away from it, but
this is, again, like, I think this is the most important thing
going on in the world, Not only the freedom of money and
transacting, but the Freedom of Information.
And they do go hand in hand. I think we could all kind of
agree that the Internet probably hasn't really lived up to its
initial kind of thought of what it wanted to be.
I think the idea of the Internet has definitely lived up to it.
I just think that you know it, it's centralized AF.
Like you guys see like Twitter going down or YouTube going down
or you know, any of these platforms going down and you,
you just it, it's like a, a friendly reminder to basically
say like, hey, dude, like I am running on Jeff Bezos server in
the middle of North Carolina. Like, you know, like that's
literally what it's telling you. And Bitcoin doesn't go down.
Like Nostr doesn't go down. You know, as much as we complain
about Nostr in in terms of like like live streaming to it and
stuff, the reality is it's a protocol.
Like look like ever since we've been consistently streaming on
Nostr and shout out to our friends over at Primal for
hooking this up and and building this on top of Primal.
We literally have not had an issue one time with Primal,
right? And because again, Nostr
fundamentally is a protocol at the end of the day, right?
You know, a lot of these entities are are centralized and
you know, at the end of the day, you could say, OK, but Nico,
like what if the primal server goes down?
It's like a but but. You can still.
Use another service to stream right?
You can't say that with any of the centralized platforms and
and and Bitcoin operates in a in a very similar way where if you
see PayPal go down for whatever reason.
I've had this happen where my bank is down like I try to sign
into my bank. And I personally.
Guys, I'm going to get a lot of heat for this, but I'm going to
tell you guys anyways. Like I like my bank.
I like I like some of the banks that I use in the.
US. My bank doesn't like me, I'll
tell you that much. Like they, they, they do their
job and like, I'm a, I'm a fan of the product, but I, I, I log
in one day and you know, they're like, oh, sorry, the server is
down. And like, that's not a big deal
if it's like for a couple hours, right?
It's not a big deal if, if Netflix is down for a couple
hours. But like, imagine if like your
bank is down for like a week like that.
Would be a problem like you can't make payroll, you can't
make payments, you can't access your money.
At 3 days like things would get crazy.
At 3 days that things would get crazy, right?
So this is what we're talking about, right?
Bitcoin, you fundamentally don't have to ask for permission.
I think that's what makes it awesome.
All right, guys. So we're going to hit the new
segment. We're going to be right back in
just a bit. I want to give a shout out to
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All right, everybody. We are back.
Happy Thanksgiving. You're listening to Simply
Bitcoin Live, the most watched and popular Bitcoin daily live
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So anyways, guys, let's get into today's news again.
I think we have a clash of the old world and the new.
World. The big news for today is the
S&P cuts Tether stable coin rating too weak on disclosure
gaps The S&P Global downgraded its Tether rating, the world's
largest stable coin, on Wednesday, citing an increase in
higher risk assets in its reserves and quote persistent
gaps in disclosure. Tether said it quote strongly
disagrees with the characterization presented in
the reports by SNP, which said that it is now rated the
company's token, known as USDT. As quote as 5.
Parentheses week, which is the lowest possible score down
grading it from 4. Constraint.
Look, I'll be honest with you guys.
I think that's utter bullshit. And I'll tell you why I think
that's utter garbage. Here's this Yahoo article.
Tether bought 26 tons of gold in Q3 just to kind of give you guys
a perspective that rivals at the end of September, the USDT
issuer held around 116 tons of gold in total.
If it were a central bank, Tethers gold reserves would rank
among the top 30 in the world ahead of Greece, Qatar and
Australia. So when I hear this type of
characterization and narrative from the SNP basically.
Saying Oh my God like. You know what to use their own
words against them. Persist in higher risk assets in
in its reserves. If it literally has more gold
reserves than most central banks on planet Earth, like, I'm
sorry, that's BS. And I think that there's a
hidden agenda here. And I think that there is a, a
hidden incentive here. And it, it, it, it, it's just,
you know, again, this is the old system clashing with the new
system. This is why JP Morgan attack
strategy. This is a reaction or this is a
reactionary, A reactionary type of article.
And of course, they're using the legacy media a, a complex to, in
order to get you to, to convince you to, to believe into this
narrative, to buy into this narrative.
But I don't, I don't believe into this narrative.
I think the reason that they're trying to sell this narrative is
the fact that this is a company that's run by Bitcoiners and
they control and they founded the largest digital dollar on
the face of the planet, which happens to be, by the way, one
of the largest treasury buyers on planet Earth.
So when I see the S&P downgrade into their lowest possible
rating, I'm sorry, but I called BSI, called BS.
This is politically motivated. I just don't believe you guys.
And by the way, this is the same S&P rating and the same people
that were telling you that Bear Stearns was fine and it was
working and it was fantastic. I really recommend you guys
watching The Big Short if you guys don't understand the
reference. This is the same rating.
This is the same people that are telling you.
You know tethers a problem. Well, they're telling you Bear
Stearns is fine and the thing the, the literally the stock
collapsed to 0 right. I, I just, I'm sorry you're
politically compromised. You have an agenda and you just
don't like bitcoiners Like that's what I think my, my
humble opinion. Here's Jeff Park.
He says tether is the largest independent holder of gold
bullions outside of central banks and doesn't have an ever
expanding budget deficit. Call me, call me old school, but
sounds like a AAA credit to me. Here is Chris Poblowski, the CEO
of Tether of of Rumble, and he says the S&P only attacks Tether
because Tether is challenging and beating the old financial
guard at their own game. These old corporate entities
cannot handle companies like Tether and Rumble taking their
market share. Their only recourse is to attack
us because they're losing. I completely fundamentally
agree. Here's Teller, the Tether CEO
Paulo Arduino, which I interviewed guys really
recommend checking out the interview, one of my favorites
and he says to S&P regarding your tether rating rating, we we
wear your loathing with pride. The classical ratings model
built for legacy financial institutions historically LED
private and institutional investors to invest their wealth
into companies that, despite being attributed investment
grade ratings, collapsed, pushing worldwide regulators to
challenge such models. The independence and objective
assessment of all major Reddit rating agencies.
The traditional financial propaganda machine.
I didn't say it. Is growing worried when any
company ties to defy the force of gravity of the broken
financial system, no company should dare to decouple itself
from it. I didn't say it.
Tether itself built the first over capital, over capitalized
company in the financial industry with no toxic reserves
and yet is and remains extremely profitable.
Tether is living proof that the traditional financial system is
so broken that it's become being feared by the Emperor's with no
clothes. And kind of connect that with
the theme of today's show. We started with this very kind
of insidious attack by JP Morgan fighting Bitcoin on Monday, then
launching a Bitcoin related product two days later.
And then you have the legacy financial media saying, hey,
Tether is a terrible company. But if you look at the data,
Tether is literally the most profitable company by employee
on planet earth. It has more gold reserves than
most central banks. I'm sorry, I don't believe the
BSI don't believe the narrative. I don't believe the same people
that told me that Bear Stearns was great and fine and dandy and
had a grid rating and while simultaneously a couple days
later its stock literally went to zero.
I'm sorry. I'm one of the I'm one, one of
the people that were part of the millennial generation and the
Gen. Z generation that got screwed
over by you guys in 2008. I don't believe you anymore
more, which is why I'm in Bitcoin in the 1st place.
So go F yourselves. Happy Thanksgiving.
I'm going to pass it on to Opti. What do you think?
Because I think this is politically motivated garbage.
That's what I think, man. And there's a lot of things that
Paulo said in his post that I, I, I, I don't feel like I have
the liberty to say myself, but he's saying that part quiet part
out loud. He's calling it propaganda.
It's totally propaganda, 100% propaganda.
I, I I'll say that. All right, let let's just Fact
Check here. What what have we seen this
year? Tether again, you guys may not
like stable coins, but Tether is a Bitcoin company.
They're all bitcoiners. They are, you know.
Currently the biggest buyers of gold, they're one of the biggest
treasury buyers and they have one of the biggest Bitcoin
reserves out of in the whole world.
So they're top three essentially.
Yeah, I wouldn't say top three per SE, but they're in the top
of the quote UN quote hardest soundest money in the world by
any metric. Whether you're traditional
finance, you think it's treasuries, whether you're more
of a gold bug, you think it's gold.
If you're a bitcoiner, you know, it's Bitcoin.
And what's S&P? Do they downgrade them?
Well, we've seen this play out before.
S&P 500 also downgraded micro strategy.
You know, whether you like Sailor or not, strategy holds
the most Bitcoin, period. That's their whole company.
Strategy is holding Bitcoin, buying Bitcoin, figuring out
ways to get more Bitcoin. So we've seen these attacks
happen all throughout the year. And then in a very similar
grade, we've seen Moody's downgrade El Salvador.
So if you don't think this is like a political attack, if you
don't think this is a narrative propaganda trench warfare, as we
used to say against Bitcoin, then you're really not paying
attention because anyone that comes close to Bitcoin, the Fiat
system does whatever narrative they can to keep people away
from noticing what they're doing.
And you know, one, one time, would you, you could say, oh,
this is a coincidence 2 times. You're like, all right, You
know, it's starting to kind of seem like there, there's a, a
certain bias here by the third time, you know, fool me once,
shame on you, fool me twice, can't fool me again or whatever
that quote is. So like it's becoming very
obvious. And again, as Nico was saying,
when you connect this to the very beginning of the story of
the show with the JP Morgan stuff, it's all becoming very
obvious what's going on. One, they don't want you to hold
Bitcoin, but 2, they want to hold the Bitcoin.
They want to be the middle man. So again, it all goes back to
the very simple, don't listen to what they say, watch what they
do. And if you are here, if you're a
bitcoiner, obviously this is just like, of course, this is
what I've been doing for years now.
But if you're newer to the space and you're not that hip to how
these narratives work or how these different attack vectors
happen, this is the episode hopefully that starts to open
your eyes to what is actually happening.
They do not want to see people hold Bitcoin.
So what are they going to do? They're going to do the only
thing they have left, which is sick.
The propaganda media wings on Bitcoin, Bitcoin companies,
Bitcoiners so that people get scared.
It's called a chilling effect. If they can scare people away
from Bitcoin, then they can try to maintain the power that they
currently have. If that doesn't work, then the
last final battle is when they fully capitulate.
But I would argue that the JP Morgan story we covered earlier
in the day is a full capitulation by any other name.
We're already seeing this happen in real time.
Wall Street wants Bitcoin, government want Bitcoin.
The very things that Bitcoin was kind of created to fight against
are now starting to embrace Bitcoin.
So it's upon you again, Stacks at stay humble, stay solvent.
This is how you win. Make sure you're continuously
buying more Bitcoin, taking into the self custody because all of
the narratives are doing one thing.
They're either trying to scare you away from Bitcoin and then
they buy the dip and create products on the back end or
maybe they're just like creating narratives to be like, oh, now
that you're doing this, maybe I need to stay away.
And we've seen that happen too. That's.
Exactly what's happening? Dude, like they're they're
literally I I I like Paolo said it from like it's from his
words, not mine. Like this is grade A propaganda
Like this is like, I I don't believe these people.
I I personally do I like? What happened in 2008 was a
crime like this is what This is why Bitcoin was invented like
what happened in 2008 was, was, was it?
It was so damaging for the younger generations that the
same institutions that are riding on the coattails of
legitimacy and these emblems that have been around for so
long, they're they're basically saying like, look like it.
It, it kind of reminds me of like legacy media and it kind of
reminds me. I'll give you guys the best
example. If you go, if you guys are in
the United States or in Canada, whatever.
If you go on Fandango, right? If you go on Fandango and you
look at the difference between the reviewer scores and audience
scores, like I don't even know why reviewer scores are even a
thing. Anymore these days.
Like in my opinion, like it should be only audience scores.
Like it should be the people that are voting whether a movie
is good or not. Like, the reviewers were
necessary in an era where the Internet didn't exist because
that was the only way for someone to come up and say, OK,
this is a movie worth your time. So you needed that, like that
person to review the movie. It's very similar with legacy
media. Like legacy media was extremely
useful when the Internet was not around because it was the only
way to convey information on a mass scale.
And you needed an element of trust.
You need an element of legitimacy.
You need an element of like, you know, truth.
Like you needed all of those things.
But in the era of social media, in the era of the Internet, like
the person who tells the truth is going to get the most views.
Like it doesn't matter whether you have the emblem, a a very
official emblem and a very notable name on the back.
Like look at what's happened to CNN.
The CNN is a great example. Like CNN 10/15/20 years ago.
If you tune into CNN, you're like all right dude, I'm getting
the news. If I tune into CNN today, I'm
like. What's the propaganda wing
saying to me? Like what do they want me to
believe, you know? And and then like Opti and I
went through this when the pandemic was happening.
Like it was like so crazy because like, and this was like
when simply was just beginning. Like we were like, wait a
second. Like, how the hell are we
breaking these stories before these people are like they have
like hundreds of millions of dollars in budgets, professional
journalists and somehow like we're breaking the news.
Stories 1st and then we're getting it and we're also
getting it more accurate in terms of the, the, the
journalism and the and the, the, the reporting like.
We're not professional journalists.
Like what the Hell's going on there, right.
So it obviously lets you to lead to starting conclusions.
So I think that's the. Best analogy to kind of like,
you know, compare and contrast like I think this S&P rating is
just an attack on Tether because Tether is crushing it most
profitable company on the face of the planet by employee and
also, you know, hold some of the largest gold reserves and it's
run by Bitcoiners. And treasuries.
And Bitcoin. And it's run by bitcoiners like,
yeah, I, I, I, I guess I wouldn't like them either if I
was part of the legacy financial system.
But that's just an opinion. Anyways, guys, let's get to the
culture. It is Thanksgiving.
We're going to try to wrap it up.
We'll be right back in just a SEC.
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All right, all right, Nico, I was going to do a normal culture
today, but it's not it's Thanksgiving.
I'll push that for tomorrow. So I'll save what I have for for
for you guys tomorrow. It's not a thanks, it's not a
normal. Culture, it's not a normal
culture. It's Thanksgiving, I think at
this time. I think we did it last year.
We're we're just going to shoot this shit with you guys for a
little bit and then and then we got to get out of here.
I guess we literally. We literally have our our
families at the house. But my, my sister always does
this corny thing and I always call it corny.
I think I did it last year is where Thanksgiving, we sit
around the table and you always say at least one thing that
you're thankful for throughout the year and you guys can drop
in the chat. Whatever it is, you can be
serious, you control, but I I think it'd be a good way to just
wrap up today's show. So what are we thankful for this
year? I'll go first.
I'm thankful for you bro. Aw, how cute.
Come on dude, go I'm I'm not above flattery here.
I'm thankful for you, dude. I mean, like I, I, you know, I,
I, I run this company, I wear like all the hats I have to kind
of be in the trenches of the whole thing and, you know,
producing the most amount of content.
No, I'm not going to say that, but.
Producing as much content. As we do is very difficult.
Yeah, facts. And making a business out of it
is very difficult as well. So, you know, I, I wear a lot of
hats and when I initially got into simply Bitcoin and, and
making content, I initially just wanted to be a content creator
in my heart. I still think I, I do want to do
that, but you, you get bestowed all these responsibilities and
at the end of the day, the live show is like my baby.
You know, that's like literally what's gotten us, you know, on
the radar of the Bitcoin world and Bitcoin industry.
And I've had to kind of delegate it a little bit just because of
the amount of responsibilities that I have these days.
And I've delegated it to Opti. I'll be honest, it, you know,
many times it's been rough. Many times I feel like he would
have potentially got in the channel bands.
But I think after a while, I think you got the, you know,
the, the you, you, you kind of found your groove and you've
lived up to the, to the, to the, to the role and to what's what,
what's been expected of you. And, you know, I think you've, I
think you've done a great job. So the days that I'm travelling,
podcasting, you know, talking to certain people, you know, and
you, you guys don't see me on the show and you see Opti Opti's
pushing the buttons literally and figuratively.
So I am thankful for you for doing that bro.
I appreciate. It Well, thank you.
I appreciate that. I do appreciate that.
Yeah, guys, I'm the one to blame for most of the stuff.
OK, you guys yell at me about the thumbnails, the titles.
Dude, it's all me, guys. I I've been, I've been letting
Nikka take the heat for that. It's all it's all me.
No, Nikka, thank you, man. I I appreciate that.
This year's definitely been one of those.
Building years for us. I haven't taken a break all
year. It's been super hectic.
Of course, the price has been wrecked, the news sometimes have
been slow. But what I'm most thankful for,
obviously on the one hand, it's Nico as well for initially
taking kind of the chance with me and then throwing me into
this position. On the other side, it's really
every single one of you guys. You guys like the fact that
we've built this company, the show.
The. The as I like to joke with you
guys, the cult following out there, like I said it what last
week when I came back from the mining disrupt and I'm most
thankful for all of you guys that are out there that are
literally helping us, you know, build this dream job.
But also kind of the feedback loop, the positive feedback loop
within you guys that you guys when you come up to us and
you're like, dude, you guys are killing it.
I love I love Ruston when he goes bananas.
I love Dante. I love when Nico gets crazy
eyed. I love Opti joking like you're
macro takes and that's the stuff that keeps us going because we
forget that there's real people out there.
To us, it's just kind of numbers, you know, we, we're
literally sitting here looking into cameras, just talking and
so. We, we see thousands of people
like that are like tuning in, but like, we don't know what
that means, right? So like the only time we ever
experienced that, like in meat space is like when we go to
conferences and like, we have like people come up to us and
like, Hey, can I take a picture with you?
And it's like, oh, wow. Like, you know, like what we
like. This is crazy, but you know.
Yeah, they're saying drunk bro love is the best love.
It's Thanksgiving, guys. The Roman I.
Don't know about. Drunk bro, I don't know about
that, but like, you know, the Romans have us and I'm not going
to go down that rabbit hole, but the, the, the point I'm trying
to make is that like, we don't know, like we don't see, we
don't see the reality of, of what our audience is because
it's all digital, right? So, you know, like it, it could,
you, could you guys imagine like what 50 people in a room is
like, it's a lot of people, right?
So like, in my mind, I'm like, Can you imagine what like, and
some of our video just get hundreds of thousands of views.
So it's like, Can you imagine what like 1000 people in a room
would be like, like a later literally 1000 people in a room.
It's a lot of effing people. It's a lot of people and these
days that's what our live streams get.
So like, but we don't see that. We don't know what that means.
Like we don't like, we don't have like a like a human
indication of that. Like what we see is numbers on a
screen. So, you know, obviously it means
a lot. You know, again, our, our, our,
you know, we're really thankful for, I'm very thankful for our
partners. That's another one.
Very thankful for our partners 'cause they're the ones that
keep the lights on. I do like the lights.
So, you know, I want to give a shout out to, you know, Bitcoin
way let in Bitcoin. Well, you know Bitkey.
Stamp. Seed Stamp. 1-2 Stamp. 123.
Bitcoin bad. Bitcoin band, but bit love, bit
love all of Bitcoin bands. SAS, you know, we would not be
on air without our partners, so I think we're missing a couple.
So hive, of course. I.
I you know, we would not be on air without you guys.
So we're very very, you know, very, very thankful for all you
guys and mining disrupts again, big Bitcoin Ben yeah, a very,
very, very thankful for all you guys would not be on air without
you guys. We're not we would not be on air
without our audience. So thankful for you guys really
appreciate you guys tuning in every single day.
Maybe our dreams come true making this live show keep
going. It's been five years since this
show launched, which is pretty crazy to say when when Opti
joined, you know, we we decided to take it live.
It was an experiment at the time.
It turned out to be a very good idea, but.
You could say I was right. You could say I was.
Right. Yeah, I think you're absolutely
right. And, you know, here we are many
years later, you know, five years since Simply's founding
and. Yeah, here's to at least one
more year, yeah, and hopefully another 10.
I my, my mind is I kind of take it day by day and you know,
like, let's see what happens. But yeah guys, we really
appreciate you guys tuning into the show.
We love you guys. We.
Appreciate you. Maybe we should be thankful for
Bitcoin as well. I'm thankful for Bitcoin.
I'm a thankful. For, I mean, not for this year.
This year's been kind of mid, but hey, there's still time left
in the year. I think you just have your
expectations too high. You know, I think we're in a
bear market, I think. We're still ripping.
Maybe, maybe. Anyways guys, go enjoy your
Thanksgiving. Go enjoy it with your family.
I hope this was entertaining. For you, I hope you.
Provided a little bit of value, some sauce, some signal crazy
stuff happening with JP Morgan and MicroStrategy like kind of
this this war on Wall Street. Again, if you live in the EU,
hit up your representative, tell him you don't you're not OK with
chat control like that. That sounds crazy.
And again, it's you know, the Flack is heaviest over the
target. When I see tether being attacked
by legacy financial kind of institutions and media that
tells me the right over the target.
Like the the very idea that to make an even to make even an
argument that, you know, it's the most profitable company on
the face of the planet. They have gold reserves that
like compete with central banks and to tell me.
That they have a solvent. Like it's so crazy.
But again, the signal there is it tells me that Bitcoin is
winning. That's what it tells me, right?
And that's what I want you guys to internalize.
So whether we're heading into a bear market next year or
whether. We're not.
No one really knows. Anyone who tells you otherwise
is straight up lying. Enjoy the day with your family,
enjoy the day with your friends. Get fat, eat some Turkey, eat
some stuffing and for people. That don't celebrate
Thanksgiving. Enjoy the day regardless.
Yeah, drink some Baileys. And we'll try to make.
It here tomorrow we'll have a show.
We'll try, I'll go for her, not we'll be here.
We'll we'll be here tomorrow and and hopefully we'll celebrate it
for you guys. But anyways, guys, we love you
all. We appreciate it.
Watch out Opti, please, for me and Opti, all the love in the
world. Thank you guys so much.
Again, we wouldn't be here without you and we'll see you
guys tomorrow for a brand new episode of SB live.
Take care, everybody. Today's episode was brought to
you by bitcoinwell.com, a Bitcoin only platform on a
mission to enable financial independence.
We're still live. We forgot the giveaway.
Let. Me turn the lights.
Back Obti's going to turn on the lights, but yeah, we forgot the
SAT giveaway from Bitcoin. Well, which has happened to us a
couple times, but let me sign in.
Here, But anyways, if you stuck around Freesat, Freesat Freesat
alert free SAT's alert. So anyways.
You guys what? I'm just laughing.
Shout out to Psycho Psycho 05 he called it.
He called us out on it. And he goes like, let's go back.
Yeah, let me see if I can even. There we go.
No. Maybe.
Maybe we did this for nothing. I just keep spelling it wrong.
Wow, you have a very tough name to spell.
There we go. All right, so for anyone who
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So anyways guys, happy Thanksgiving this time we're
signing off. Love you all.
We we'll be back tomorrow, I think maybe potentially.
Yeah, we'll be back tomorrow. We'll be back tomorrow.
We'll be. Back tomorrow.
Take it, take it easy everybody. Love you all.
Peace. Today's episode was brought to
you by bitcoinwell.com, a Bitcoin only platform on a
mission to enable financial independence.