1 00:00:10,350 --> 00:00:13,030 It's all going to zero against Bitcoin. 2 00:00:13,990 --> 00:00:23,790 It's going up for everyone. You're against Bitcoin. 3 00:00:23,870 --> 00:00:28,430 You're against freedom. Good morning everybody. 4 00:00:28,430 --> 00:00:31,350 We are back. It is Thursday, September 7th. 5 00:00:31,350 --> 00:00:34,110 It's your boy Opti. And what some crazy news 6 00:00:34,350 --> 00:00:37,840 happened yesterday, and if you've been paying attention to 7 00:00:37,840 --> 00:00:40,440 the show, we've covered this a while in the back in the past. 8 00:00:41,040 --> 00:00:43,520 One of the three things that sailors said that will get us to 9 00:00:43,520 --> 00:00:48,750 the road to $5,000,000 just happened yesterday and man this 10 00:00:48,750 --> 00:00:51,190 is a big one. Fazb, aka the Financial 11 00:00:51,190 --> 00:00:55,190 Accounting Standards Board set to introduce new fair value 12 00:00:55,190 --> 00:00:58,630 accounting rules for Bitcoin and and unfortunately other Kryptos 13 00:00:58,630 --> 00:01:00,350 as well. But you know they're learning. 14 00:01:00,350 --> 00:01:03,110 They're they stated that they're learning what's going on. 15 00:01:03,110 --> 00:01:06,870 I brought all the receipts for you guys, but the TLDR is 16 00:01:06,870 --> 00:01:10,550 basically a lot of the disincentives for corporations 17 00:01:10,550 --> 00:01:13,710 and businesses to hold Bitcoin on their company balance sheet 18 00:01:13,710 --> 00:01:17,790 will now be put to the wayside. And this will provide a more 19 00:01:17,910 --> 00:01:20,390 accurate reflection of the market value of Bitcoin on 20 00:01:20,390 --> 00:01:23,990 balance sheets and of course give greater transparency to 21 00:01:23,990 --> 00:01:26,230 financial reporting of companies, the whole Bitcoin. 22 00:01:26,230 --> 00:01:30,030 So this is a process that we've been talking about here on the 23 00:01:30,030 --> 00:01:32,030 show. Basically the great 24 00:01:32,030 --> 00:01:35,710 refinancialization of the Fiat world with Bitcoin is here to 25 00:01:35,710 --> 00:01:38,350 stay. It is happening in real time and 26 00:01:38,350 --> 00:01:41,550 I think I've said it in the past this this may be one of the most 27 00:01:41,550 --> 00:01:46,200 bullish bear markets in history. Yes, it's been a tough one in 28 00:01:46,200 --> 00:01:49,680 regards to the price, but the amount of stuff getting built on 29 00:01:49,680 --> 00:01:53,480 the back end, the amount of Bitcoin exposure, the amount of 30 00:01:53,480 --> 00:01:56,880 attention we've been getting on Bitcoin, I don't think any other 31 00:01:56,880 --> 00:02:01,430 bear market can compare to that. And now we are seeing at the 32 00:02:01,430 --> 00:02:04,110 financial world, the traditional financial world is starting to 33 00:02:04,110 --> 00:02:07,110 embrace Bitcoin because they understand what we understand. 34 00:02:07,110 --> 00:02:10,350 Honey Badger don't give a F and they cannot stop this. 35 00:02:10,350 --> 00:02:13,150 So they are incentivized to embrace it. 36 00:02:13,550 --> 00:02:15,790 And I call. Of course, I can already hear 37 00:02:16,270 --> 00:02:19,990 the the bitcoiners out there. It's like, you know who we don't 38 00:02:19,990 --> 00:02:23,350 need the financial world. But guys, this was inevitable. 39 00:02:23,350 --> 00:02:27,110 We knew this was gonna happen. So I got you all the receipts. 40 00:02:27,110 --> 00:02:29,990 We got some videos from Sailor telling us about the three 41 00:02:29,990 --> 00:02:32,830 things needed for Bitcoin to hit $5,000,000. 42 00:02:32,830 --> 00:02:35,580 We'll cover that on the news. And of course I got a video here 43 00:02:35,580 --> 00:02:38,100 you, you know how I like to do. I like to give you guys easy 44 00:02:38,100 --> 00:02:40,940 examples of what Bitcoin is. And then I'm not alone. 45 00:02:40,940 --> 00:02:44,260 I got my boy Mike Hobart, who you guys know, you guys are 46 00:02:44,260 --> 00:02:47,300 familiar with Mike Hobart. And we got a little culture 47 00:02:47,300 --> 00:02:51,180 segment here because last week we had the debate whether 48 00:02:51,300 --> 00:02:54,300 Hoddling is using Bitcoin, whether you should be spending 49 00:02:54,300 --> 00:02:57,580 your Bitcoin to further spread Bitcoin adoption. 50 00:02:57,820 --> 00:03:00,830 Well, everyone's a scammer. You guys know this. 51 00:03:00,830 --> 00:03:03,670 So Hoddling is using Bitcoin. We're gonna double down on this. 52 00:03:03,670 --> 00:03:05,670 And it's one of those things. You know, I saw some of the 53 00:03:05,670 --> 00:03:08,150 comments out there saying that we repeat ourselves a lot, but 54 00:03:08,150 --> 00:03:09,830 what gets repeated gets remembered. 55 00:03:09,830 --> 00:03:13,670 Guys, we are here trying to get the Bitcoin fundamentals to the 56 00:03:13,670 --> 00:03:18,700 normies out there, to the okay to the shit coiners out there on 57 00:03:18,700 --> 00:03:21,620 YouTube that are still lost in the sauce. 58 00:03:21,620 --> 00:03:24,580 So hey, forgive me if you've been here for a while, but we're 59 00:03:24,580 --> 00:03:26,660 going to double down on the idea. 60 00:03:26,660 --> 00:03:29,340 First and foremost, we're going to start with what is Bitcoin? 61 00:03:29,340 --> 00:03:31,780 Then we're going to start with the big news today of how this 62 00:03:31,780 --> 00:03:34,220 is going to change corporate adoption on Bitcoin. 63 00:03:34,460 --> 00:03:38,220 And then third, we're going to double down on the idea of why 64 00:03:38,220 --> 00:03:39,740 you should be hoddling some Bitcoin. 65 00:03:39,740 --> 00:03:41,950 Anyways, Mike, how you doing? I was telling everyone the 66 00:03:41,950 --> 00:03:43,950 spaces. We had a great conversation. 67 00:03:43,950 --> 00:03:47,070 It wasn't necessarily Bitcoin related, but it got my mind 68 00:03:47,070 --> 00:03:48,510 going. It got me ranching. 69 00:03:48,510 --> 00:03:51,030 So how you doing this morning? Good to have you, dude. 70 00:03:51,510 --> 00:03:55,590 Dude, it's I I have to disagree. I think the the conversation we 71 00:03:55,590 --> 00:03:58,390 were having actually does relate back to Bitcoin, specifically 72 00:03:58,390 --> 00:04:01,350 bitcoiners, and like the kind of cultural revolution that's 73 00:04:01,350 --> 00:04:05,950 happening alongside the energy and monetary revolution. 74 00:04:05,950 --> 00:04:07,880 So. Yeah, did you know You know, 75 00:04:07,880 --> 00:04:10,080 I'm. I'm good to get your your your 76 00:04:10,080 --> 00:04:13,080 mind juices flowing and everything exactly as I always 77 00:04:13,080 --> 00:04:14,640 said. You know you were giving me crap 78 00:04:14,640 --> 00:04:19,200 on I forget when it was was Tuesday maybe about Zach being 79 00:04:19,200 --> 00:04:21,760 my favorite writer. Well, you know, I love your 80 00:04:21,760 --> 00:04:28,140 writing as well because you have a way of getting my thoughts out 81 00:04:28,140 --> 00:04:31,300 on paper because I'm just like, intuitively regarded when it 82 00:04:31,300 --> 00:04:33,340 comes to that sense, I'm like, OK, here's the answer, here we 83 00:04:33,340 --> 00:04:34,620 go. And you're like, no, let me, let 84 00:04:34,620 --> 00:04:37,220 me expand on this unwritten form. 85 00:04:37,620 --> 00:04:41,820 And so you have a way of of saying what I can't write, I 86 00:04:41,820 --> 00:04:44,740 guess, or writing what I can only say I don't know anyway. 87 00:04:44,820 --> 00:04:46,060 Anyway, that's not the hero there. 88 00:04:46,700 --> 00:04:47,980 All right. All right, guys, let's get into 89 00:04:47,980 --> 00:04:51,460 the show because we do have a lot to talk about today. 90 00:04:54,220 --> 00:04:57,940 The Bitcoin numbers. Is your Bitcoin and cold storage 91 00:04:57,940 --> 00:05:00,940 really secure? Is your seed phrase really 92 00:05:00,940 --> 00:05:02,500 secure? Stamp seeds? 93 00:05:02,500 --> 00:05:05,180 Do it yourself. Kit has everything you need to 94 00:05:05,180 --> 00:05:09,580 hammer your seed words into commercial grade titanium plates 95 00:05:09,780 --> 00:05:11,780 instead of just writing them on paper. 96 00:05:12,060 --> 00:05:15,260 Don't store your generational wealth on paper. 97 00:05:15,700 --> 00:05:18,220 Papers prone to water damage. Fire damage. 98 00:05:18,420 --> 00:05:20,620 You want to put your generational wealth on one of 99 00:05:20,620 --> 00:05:23,740 the strongest metals on planet earth, Titanium. 100 00:05:23,740 --> 00:05:26,900 Your words are actually stamped into this metal plate with this 101 00:05:26,900 --> 00:05:30,340 hammer and these letter stamps. And once your words are in, they 102 00:05:30,340 --> 00:05:33,260 aren't going anywhere. No risk of the plate breaking 103 00:05:33,260 --> 00:05:35,660 apart and pieces falling everywhere. 104 00:05:35,860 --> 00:05:39,100 Titanium stamp seeds will survive nearly triple the heat 105 00:05:39,100 --> 00:05:41,580 produced by a house fire. They're also crushproof, 106 00:05:41,580 --> 00:05:44,260 waterproof, non corrosive, and time proof. 107 00:05:44,260 --> 00:05:46,940 All things that paper is. Not allowing you to huddle your 108 00:05:46,940 --> 00:05:49,940 Bitcoin with Peace of Mind for the long haul. 109 00:05:50,100 --> 00:05:55,460 Stamp your seed on stamp seed. Yeah, you guys are getting crazy 110 00:05:55,460 --> 00:05:59,300 in the chatter anyways. Anyways, scan the QR code at the 111 00:05:59,300 --> 00:06:02,340 bottom of the screen and get yourself a titanium storage kit. 112 00:06:02,340 --> 00:06:07,060 Guys, do not leave your seed phrase in your sock drawer on a 113 00:06:07,060 --> 00:06:09,420 piece of paper. Make sure it is able to 114 00:06:09,420 --> 00:06:14,050 withstand fires and disasters because this is the only way 115 00:06:14,050 --> 00:06:18,650 you're gonna make it through the great re sat of the world. 116 00:06:18,650 --> 00:06:20,330 Anyways, let's get into these numbers. 117 00:06:20,330 --> 00:06:22,930 As you guys know, my numbers are a little different than Nikko's 118 00:06:22,930 --> 00:06:25,170 and I always start with my favorite number which is the 119 00:06:25,170 --> 00:06:26,890 block height. Guys tick tock next block. 120 00:06:27,090 --> 00:06:28,930 It's the only date that matters now. 121 00:06:28,930 --> 00:06:33,770 We are currently at a block height of 806,619. 122 00:06:33,970 --> 00:06:37,530 The current Bitcoin price is 25,775. 123 00:06:37,990 --> 00:06:40,910 You know it I guess you know Side tangent. 124 00:06:41,110 --> 00:06:44,270 I was saying that maybe we are out of the the bear market crab 125 00:06:44,270 --> 00:06:46,550 market because we had some good news in the price pump. 126 00:06:46,550 --> 00:06:48,990 Well we had some good news and the price went down South. 127 00:06:48,990 --> 00:06:51,670 Maybe we're still in a crab market slash bear market. 128 00:06:51,670 --> 00:06:53,830 Anyways that's a totally other tangent. 129 00:06:53,990 --> 00:06:57,470 The Moscow time aka the sats per dollar AKA how much your Fiat 130 00:06:57,470 --> 00:07:00,350 dollars worth in Bitcoin AKA how much Bitcoin you can buy for a 131 00:07:00,350 --> 00:07:03,950 single dollar is currently at 3879. 132 00:07:03,950 --> 00:07:07,270 If I could, I would do a poll right now of are we gonna see 4K 133 00:07:07,270 --> 00:07:09,150 sats? But I can't do this all right 134 00:07:09,150 --> 00:07:11,190 now. Anyways, the total percentage of 135 00:07:11,190 --> 00:07:16,470 Bitcoin that will ever be issued is currently at 92.75 percent, 136 00:07:16,470 --> 00:07:19,790 92.75%. The market cap of Bitcoin in 137 00:07:19,790 --> 00:07:24,190 Fiat terms is at half a trillion dollars, $502.2 billion. 138 00:07:24,430 --> 00:07:27,750 The realized monetary inflation taking Fiat currencies to school 139 00:07:27,950 --> 00:07:33,110 is at 1.75% and going to be cut in half roughly around April, 140 00:07:33,480 --> 00:07:37,200 and the Bitcoin versus gold market cap is only at 3.93%. 141 00:07:37,200 --> 00:07:40,600 So much room to run in the hard money game and the total 142 00:07:40,600 --> 00:07:46,800 lightning capacity currently is around 4742 Bitcoin or publicly 143 00:07:47,560 --> 00:07:51,400 reachable lightning capacity. The hash rate the last 90 days 144 00:07:51,400 --> 00:07:54,160 is 380. Exit hashes slowly but surely 145 00:07:54,320 --> 00:07:56,440 creeping up guys. If you're if you're following 146 00:07:56,440 --> 00:07:59,420 along hash rate be booming boys and girls. 147 00:07:59,420 --> 00:08:01,700 And the pending fees. Wow look at the pending fees 148 00:08:01,700 --> 00:08:06,340 guys. 6.8 Bitcoin right now. Geez I think it's doubled. 149 00:08:06,340 --> 00:08:08,580 What's going on out there Why why is it so? 150 00:08:08,860 --> 00:08:12,060 What's going on in the in the in the men pools out there. 151 00:08:12,340 --> 00:08:13,100 I don't know. Is there? 152 00:08:13,260 --> 00:08:14,940 I don't know. I'll have to look into that. 153 00:08:14,940 --> 00:08:16,780 Interesting. I I was not expecting that. 154 00:08:16,780 --> 00:08:21,300 Sorry guys. Anyways, I saw this video from 155 00:08:21,300 --> 00:08:24,820 documenting Bitcoin shouts out to that account, AKA documenting 156 00:08:24,820 --> 00:08:27,690 BTC. And you know, you know what I 157 00:08:27,690 --> 00:08:32,049 like to do guys on the show. I I like to as much as possible 158 00:08:32,289 --> 00:08:36,169 break down Bitcoin in the simplest terms imaginable 159 00:08:36,169 --> 00:08:39,169 because I still see so many people that don't understand 160 00:08:39,169 --> 00:08:40,570 what Bitcoin is. They don't understand the 161 00:08:40,570 --> 00:08:43,370 importance of Bitcoin and they're still sitting on the 162 00:08:43,370 --> 00:08:46,050 sidelines. And so any chance I get to try 163 00:08:46,330 --> 00:08:50,730 to give you examples of what is Bitcoin in the simplest terms 164 00:08:50,730 --> 00:08:53,690 possible? I always do it and I think this 165 00:08:53,690 --> 00:08:56,250 is a good way to tee up all the news that we're going to be 166 00:08:56,250 --> 00:08:58,530 covering today. And even the culture today is 167 00:08:58,530 --> 00:09:03,450 just a very, very high level, easily explainable view of what 168 00:09:03,450 --> 00:09:05,490 Bitcoin is. And of course I have a video 169 00:09:05,490 --> 00:09:08,890 here from Jack Mahler's one of the Go entrepreneurs in the 170 00:09:08,890 --> 00:09:12,530 space and he's just got a way of explaining Bitcoin that I wish I 171 00:09:12,530 --> 00:09:15,250 could I I'm a I'm a lot more wordy when it comes to my 172 00:09:15,250 --> 00:09:17,450 Bitcoin. I usually get more emotional 173 00:09:17,450 --> 00:09:19,890 please. But this is very clear cut way 174 00:09:20,170 --> 00:09:22,370 of explaining Bitcoin. So let's get into this, and then 175 00:09:22,370 --> 00:09:23,650 we'll have a conversation about it. 176 00:09:25,640 --> 00:09:29,320 The other Jack and I grew them thinks of Bitcoin as the 177 00:09:29,320 --> 00:09:32,000 currency of the Internet because of the similar properties they 178 00:09:32,000 --> 00:09:35,680 retain. The Internet has actually in 179 00:09:35,680 --> 00:09:37,920 similar properties of maybe something like the United States 180 00:09:37,920 --> 00:09:40,520 of America. There's a freedom and a pining. 181 00:09:40,520 --> 00:09:42,080 There's a freedom in coming and going. 182 00:09:43,000 --> 00:09:45,440 Everyone is created equal. It's a system of users with no 183 00:09:45,480 --> 00:09:50,960 admins, and so it is a system that's designed to be 184 00:09:50,960 --> 00:09:54,120 peer-to-peer. And because of that, there is no 185 00:09:54,120 --> 00:09:57,160 natural relationship with the nation state or corporation. 186 00:09:58,280 --> 00:10:02,560 And so it is naturally global and is natively digital, which 187 00:10:02,560 --> 00:10:06,360 makes it incredibly accessible and it doesn't inherently 188 00:10:06,360 --> 00:10:13,680 require systems like trust. And so I think that is why it is 189 00:10:13,680 --> 00:10:16,320 the currency of the Internet and more specifically it's the first 190 00:10:16,320 --> 00:10:20,560 ever digital bear instrument, so bytes of data. 191 00:10:20,920 --> 00:10:25,280 Could represent physical value and so for something like a 192 00:10:25,280 --> 00:10:28,240 Stripe, you know Visa payments are promises of future 193 00:10:28,240 --> 00:10:33,120 settlement and so Stripe doesn't actually offer finality within 194 00:10:33,120 --> 00:10:36,520 itself. It forwards along messages of 195 00:10:36,520 --> 00:10:41,040 promises and so that for for those reasons but then to public 196 00:10:41,040 --> 00:10:42,800 blockchain. Sorry this is a loaded question, 197 00:10:42,800 --> 00:10:45,760 so I'm giving. My best is that Bitcoin doesn't 198 00:10:45,760 --> 00:10:51,270 have a natural issuer. No one Sotoshi Nakamoto even 199 00:10:51,430 --> 00:10:54,550 paid for his or her their Bitcoin with energy. 200 00:10:55,430 --> 00:10:59,790 And so it is a commodity like instrument and its truest in 201 00:10:59,790 --> 00:11:04,070 most natural form and that's a very, very important property 202 00:11:04,070 --> 00:11:07,270 that even someone like the SEC is beginning to recognize. 203 00:11:07,350 --> 00:11:11,550 So I think the combination of those make Bitcoin tremendously 204 00:11:11,550 --> 00:11:14,110 unique. It has a Big Bang type of effect 205 00:11:14,110 --> 00:11:16,910 where theoretically, in my opinion, it's impossible to 206 00:11:16,910 --> 00:11:19,480 replicate. And retain and achieve the 207 00:11:19,480 --> 00:11:24,160 properties that Satoshi did Jack. 208 00:11:25,400 --> 00:11:29,360 I wish I could be so eloquent in such a simple way explaining 209 00:11:29,360 --> 00:11:31,480 what Bitcoin is. And This is why I wanted to 210 00:11:31,480 --> 00:11:35,240 bring up that little video today, because it's going to 211 00:11:35,240 --> 00:11:37,680 touch in on the news story today. 212 00:11:38,230 --> 00:11:41,630 And it's basically the idea that everyone is waking up to the 213 00:11:41,630 --> 00:11:44,630 value proposition of Bitcoin. They can fight it, they can 214 00:11:44,630 --> 00:11:47,150 fight it, They can call it what do they call it? 215 00:11:47,150 --> 00:11:49,110 Digital pet rock, whatever they want. 216 00:11:49,110 --> 00:11:51,310 You know even the shit corners out there that are muddying the 217 00:11:51,310 --> 00:11:53,910 waters. It's becoming very obvious that 218 00:11:53,910 --> 00:11:56,870 there's Bitcoin and there's Shitcoin and nothing else comes 219 00:11:56,870 --> 00:12:00,750 even close to Bitcoin. Like Bitcoin is the digitally 220 00:12:00,750 --> 00:12:03,190 native money of the Internet. It's permissionless, 221 00:12:03,190 --> 00:12:06,550 peer-to-peer. This is the separation of money 222 00:12:06,750 --> 00:12:09,390 and state, and Bitcoin is accessible to everyone. 223 00:12:09,550 --> 00:12:12,960 It's trust, minimize, and all you have to do is just have a 224 00:12:12,960 --> 00:12:16,400 little curiosity, like you have to opt into the network. 225 00:12:16,640 --> 00:12:20,080 There is no hand that's going to force you to use Bitcoin. 226 00:12:20,160 --> 00:12:22,080 You know, there's no Bitcoin marketing team. 227 00:12:22,240 --> 00:12:24,840 It's just us out here. It's just other bitcoiners that 228 00:12:24,840 --> 00:12:29,560 are not only just in love and obsessed with Bitcoin, but we're 229 00:12:29,560 --> 00:12:33,320 here trying to help other people out there and we get mud thrown 230 00:12:33,320 --> 00:12:37,480 in our face and you know, it's just it's it's hey, it may not 231 00:12:37,480 --> 00:12:39,440 be much but it's honest work anyways. 232 00:12:39,440 --> 00:12:42,960 Slowly but surely the world is waking up to the value 233 00:12:42,960 --> 00:12:45,800 proposition of Bitcoin. You know, hard cap, censorship 234 00:12:45,800 --> 00:12:48,600 resistant, digitally native instant settlement in 10 235 00:12:48,600 --> 00:12:51,520 minutes. What else you know stores value 236 00:12:51,520 --> 00:12:55,600 through time and space can literally uncensorability 237 00:12:56,000 --> 00:13:00,360 exactly can send it around the world in freaking lightspeed 238 00:13:00,560 --> 00:13:03,120 like it it nothing compares to Bitcoin. 239 00:13:03,400 --> 00:13:07,470 The the traditional financial system doesn't even come close 240 00:13:07,470 --> 00:13:10,670 to Bitcoin. It Bitcoin is so simple and the 241 00:13:10,670 --> 00:13:15,270 settlement layer of Bitcoin is is the 10X improvement on the 242 00:13:15,270 --> 00:13:17,910 traditional digital payment system that we are using like 243 00:13:18,110 --> 00:13:21,950 and then add that to the monetary policy of Bitcoin which 244 00:13:21,950 --> 00:13:25,310 if you are a Fiat maxi out there you don't even know what they're 245 00:13:25,310 --> 00:13:27,510 going to do with your dollar coming up next month. 246 00:13:27,510 --> 00:13:30,870 Like, we know what's going on with our money for hundreds if 247 00:13:30,870 --> 00:13:35,440 not thousands of years. And it just, it really goes to 248 00:13:35,440 --> 00:13:37,840 show that the digital payments in their current forms cannot 249 00:13:37,840 --> 00:13:41,680 compete with Bitcoin and no amount of propaganda against 250 00:13:41,680 --> 00:13:44,360 Bitcoin will stop this. And as you can see in today's 251 00:13:44,360 --> 00:13:49,160 news, when we go through all the receipts, whether it's the SEC, 252 00:13:49,160 --> 00:13:52,280 whether it's FAZ V, whether it's the black rocks of the world, 253 00:13:52,280 --> 00:13:54,960 whether it's nation states like El Salvador of the world, or 254 00:13:54,960 --> 00:13:58,330 individuals like yourself, slowly but surely people are 255 00:13:58,330 --> 00:14:02,370 waking up to the idea that you might want to own some Bitcoin 256 00:14:02,370 --> 00:14:06,330 just in case it catches on. Because it's happening in real 257 00:14:06,330 --> 00:14:08,610 time, guys. And I know you that watch this 258 00:14:08,610 --> 00:14:11,050 show every single day I I'm preaching to the choir. 259 00:14:11,490 --> 00:14:15,770 But we say all this stuff constantly to try to plant and 260 00:14:15,770 --> 00:14:19,810 accept the ideas to just the the layman, just the casual watcher 261 00:14:19,970 --> 00:14:22,610 that may be on YouTube that may have just got caught by the 262 00:14:22,610 --> 00:14:24,600 title. And they're like, man, what is 263 00:14:24,600 --> 00:14:26,280 this Bitcoin stuff? Is it really important? 264 00:14:26,280 --> 00:14:29,640 Yes, it is important. And you want to hold some, I 265 00:14:29,640 --> 00:14:31,880 don't care how much you hold, but you need to hold some. 266 00:14:31,880 --> 00:14:34,720 I would say go almost all in if you're possible. 267 00:14:34,720 --> 00:14:37,560 But you know, we all on different time scales and we all 268 00:14:37,560 --> 00:14:41,920 have different behaviors and we all have to audit our finances 269 00:14:41,920 --> 00:14:45,490 differently. But man, Bitcoin is absolutely 270 00:14:45,490 --> 00:14:47,690 winning out there. And yeah, shouts out to Narwhal 271 00:14:47,690 --> 00:14:49,770 who put it in the chat. I do have the meme for you guys. 272 00:14:49,930 --> 00:14:52,690 Today is the second year anniversary of El Salvador 273 00:14:52,690 --> 00:14:56,570 adopting Bitcoin. Yes, it is like this is it goes 274 00:14:56,570 --> 00:14:59,610 back to like I know we had this conversation I think it was last 275 00:14:59,610 --> 00:15:03,650 week of are we early, are we not on a price scale, you know, who 276 00:15:03,650 --> 00:15:07,130 knows on an adoption scale. I think it's becoming or it's 277 00:15:07,290 --> 00:15:11,050 absolutely obvious to everyone that we are early and just 278 00:15:11,050 --> 00:15:13,970 there's so few people that we can call bitcoiners. 279 00:15:13,970 --> 00:15:16,730 I I'd ventured to say it's probably less than a million 280 00:15:16,730 --> 00:15:19,890 true bitcoiners out there in the world that are holding a 281 00:15:19,890 --> 00:15:23,770 significant amount of wealth in Bitcoin and and won't ever go 282 00:15:23,770 --> 00:15:26,330 back to the Fiat currency. So we have a lot of work to do 283 00:15:26,570 --> 00:15:29,530 but hey, Bitcoin stays winning the incentive stay winning. 284 00:15:29,530 --> 00:15:32,450 TikTok next block. This is the way it's it's so 285 00:15:32,450 --> 00:15:33,690 beautiful being on the front lines. 286 00:15:33,690 --> 00:15:35,290 Anyways, Mike, what's your thoughts on all this? 287 00:15:36,050 --> 00:15:41,170 Well, I I I got to be honest as far as like going off the the 288 00:15:41,170 --> 00:15:44,090 Jack Mahler's clip, I don't have a whole lot to say. 289 00:15:44,610 --> 00:15:46,850 I have a lot more to say as far as like the the rest of the 290 00:15:46,850 --> 00:15:48,690 topics we're going to be getting into today. 291 00:15:50,180 --> 00:15:54,740 But I what I can like what I can add to the conversation is that 292 00:15:55,460 --> 00:16:00,740 there's a significant level of safety and defense that Bitcoin 293 00:16:00,740 --> 00:16:02,980 can provide. We were talking about this 294 00:16:02,980 --> 00:16:05,220 specifically last night on Bitcoin veterans. 295 00:16:05,980 --> 00:16:11,140 There's a there's a portion of the the community population 296 00:16:11,740 --> 00:16:16,460 that we have our soldiers out there both currently enlisted 297 00:16:16,500 --> 00:16:18,960 and. You know, veterans that are no 298 00:16:18,960 --> 00:16:23,520 longer enlisted and we look to them to defend ourselves and 299 00:16:23,520 --> 00:16:25,040 defend our loved ones and our families. 300 00:16:25,040 --> 00:16:31,080 But then there's zero adherence or clarity or conversation 301 00:16:31,080 --> 00:16:35,200 around making sure that, like those that are protecting us are 302 00:16:35,200 --> 00:16:38,440 protected themselves. And I think that like this whole 303 00:16:38,440 --> 00:16:42,760 Bitcoin adoption and Bitcoin use case is going to really 304 00:16:42,760 --> 00:16:47,130 penetrate the kind of the. The veil or into the mainstream 305 00:16:47,130 --> 00:16:50,730 mindsphere. As far as if you don't have the 306 00:16:50,730 --> 00:16:54,570 capability of just using an asset that is freely spendable 307 00:16:54,570 --> 00:16:58,730 and freely savable like you, you basically don't have anything 308 00:16:59,170 --> 00:17:01,130 right. Because like if you're if you're 309 00:17:01,130 --> 00:17:06,450 not capable of saving your time, energy and wealth in something 310 00:17:06,450 --> 00:17:12,890 that cannot be removed from your own ownership, that that's a 311 00:17:12,890 --> 00:17:14,569 significant level of risk. Like. 312 00:17:15,270 --> 00:17:19,829 It was kind of not kind of. It was aggressively bought into 313 00:17:19,829 --> 00:17:22,750 that the US dollar was always going to save and retain its 314 00:17:22,750 --> 00:17:24,190 value. And like you could just put it 315 00:17:24,190 --> 00:17:26,710 underneath your mattress and you'd be good. 316 00:17:27,670 --> 00:17:29,270 Look what happened the last couple of years. 317 00:17:29,270 --> 00:17:31,950 Like how much can you actually buy with that money that you put 318 00:17:31,950 --> 00:17:35,710 in your mattress? Like it's just it's and I 319 00:17:35,710 --> 00:17:37,430 understand like you and I have talked about it. 320 00:17:37,430 --> 00:17:39,670 Like I understand the nihilism that comes from when you 321 00:17:39,670 --> 00:17:43,510 understand the monetary system and the situation for inflation 322 00:17:43,510 --> 00:17:46,340 and. Real estate prices going up and 323 00:17:46,340 --> 00:17:48,260 all this other, it's like where where's the hope? 324 00:17:48,260 --> 00:17:52,180 And it's like I I've been kind of meaming it a little bit 325 00:17:52,180 --> 00:17:54,420 lately. There's the conversation topic 326 00:17:54,420 --> 00:17:58,500 of Bitcoin is hope. Bitcoin is a store of value 327 00:17:58,500 --> 00:18:00,620 because it's hope. Where I disagree, I think 328 00:18:00,620 --> 00:18:06,580 Bitcoin is hope because it's a store of value, because without 329 00:18:06,580 --> 00:18:08,380 that. Like, we don't have a foundation 330 00:18:08,380 --> 00:18:10,540 to try and build our future upon, and then you don't have a 331 00:18:10,540 --> 00:18:12,860 foundation to pass on down to your children, which is kind of 332 00:18:12,860 --> 00:18:15,020 the whole point of this entire game we call life, right? 333 00:18:15,020 --> 00:18:21,060 Like learn how to do better and then build somebody that can do 334 00:18:21,060 --> 00:18:24,540 better on top of your better and continue pushing the advancement 335 00:18:24,540 --> 00:18:28,220 of society in the human race. So that's what I've got so far. 336 00:18:28,660 --> 00:18:30,900 We got a We got a lot more interesting stuff to talk about 337 00:18:30,900 --> 00:18:34,260 though, in my opinion, as far as I don't want to. 338 00:18:34,610 --> 00:18:37,290 Docks the conversation that we're about to have. 339 00:18:37,290 --> 00:18:41,050 So well wait wait say that meme again what you say the Bitcoin 340 00:18:41,050 --> 00:18:43,090 is hope because it is a store of value. 341 00:18:43,090 --> 00:18:45,370 I absolutely love that and and we're literally going to talk 342 00:18:45,370 --> 00:18:48,090 about that on the culture. So we'll put a pin on that one 343 00:18:48,290 --> 00:18:50,650 because it that's a that's a great look. 344 00:18:50,650 --> 00:18:52,810 You know something about the synchronicities on the show. 345 00:18:52,810 --> 00:18:57,160 It's like if you if you if you program the show correctly then 346 00:18:57,160 --> 00:19:00,960 it all goes into the main message that Bitcoin is the way. 347 00:19:00,960 --> 00:19:04,640 Anyway, before we move on guys, of course we are plugging our 348 00:19:04,640 --> 00:19:08,000 boys at the Bitcoin magazine Bitcoin 2024 in Nashville July 349 00:19:08,000 --> 00:19:12,640 25th through the 27th next year around I guess after the having. 350 00:19:12,640 --> 00:19:14,680 But we're going to be there. I hope you guys go there. 351 00:19:14,680 --> 00:19:18,190 We're telling you this now because the tickets will go up 352 00:19:18,230 --> 00:19:21,110 and you guys always complain about it, but get your ticket 353 00:19:21,110 --> 00:19:24,950 today before the prices go up. You know you're going to FOMO 354 00:19:24,950 --> 00:19:28,550 into going to the conference. Use promo code simply and you 355 00:19:28,550 --> 00:19:31,110 can get a discount today. So we hope to see you. 356 00:19:31,110 --> 00:19:32,470 I can't wait to get to Nashville. 357 00:19:32,470 --> 00:19:34,910 I haven't been to Nashville yet, but all my friends are out there 358 00:19:34,910 --> 00:19:38,070 and they're telling me it's super duper lit. 359 00:19:38,070 --> 00:19:40,710 Anyways, let's get into the news, guys. 360 00:19:44,590 --> 00:19:50,020 The Daily News. All right before. 361 00:19:50,620 --> 00:19:53,460 Before I go on guys though, I got a shout out Foundation. 362 00:19:53,460 --> 00:19:57,100 I don't have my foundation and it's in the mail, but I am so 363 00:19:57,260 --> 00:20:00,380 hyped about Foundation. This is one of the, I think, one 364 00:20:00,380 --> 00:20:02,420 of the prettiest hardware wallets out there. 365 00:20:02,950 --> 00:20:07,310 And it is fully open source, self custody done right build 366 00:20:07,310 --> 00:20:10,910 with premium grade hardware wallet, fully open source, made 367 00:20:10,910 --> 00:20:13,670 in the US, most intuitive Bitcoin hardware wallet out 368 00:20:13,670 --> 00:20:15,190 there. It looks like it looks like your 369 00:20:15,190 --> 00:20:19,950 old Nokia phone. This is definitely consumer 370 00:20:19,950 --> 00:20:23,390 grade hardware wallets out there giving people something that 371 00:20:23,390 --> 00:20:26,630 they are used to that they're familiar with so they don't get 372 00:20:26,630 --> 00:20:28,950 scared away guys. So get your Bitcoin off in 373 00:20:28,950 --> 00:20:32,390 exchange and into your own hands in a few minutes and they even 374 00:20:32,390 --> 00:20:35,710 have some concierge services services out there that that 375 00:20:35,710 --> 00:20:38,190 walk you through it. White glove service to get on 376 00:20:38,190 --> 00:20:41,710 boarded on passport by foundation. 377 00:20:42,110 --> 00:20:45,230 Anyways guys, you can scan the QR code over there and we will 378 00:20:45,230 --> 00:20:48,350 take you directly to the website. 379 00:20:49,190 --> 00:20:53,950 Anyways before I go on as we've been talking about today, some 380 00:20:53,950 --> 00:20:58,430 huge news happened yesterday. It is not like the ink hasn't 381 00:20:58,430 --> 00:21:03,440 fully dried yet, but this is huge moving forward for Bitcoin 382 00:21:03,800 --> 00:21:09,400 in terms of corporate adoption because it's starting to remove 383 00:21:09,400 --> 00:21:12,520 the obstacles around people embracing Bitcoin. 384 00:21:12,520 --> 00:21:15,360 And I have a tweet here starting off by Corey Clifson and he goes 385 00:21:15,560 --> 00:21:19,280 Christmas came early for Sailor and Micro Strategy and other 386 00:21:19,280 --> 00:21:21,120 companies with Bitcoin on their balance sheets. 387 00:21:21,120 --> 00:21:25,520 Fazbe is moving Fair Valley reporting for Bitcoin Holdings. 388 00:21:25,520 --> 00:21:31,250 And before I move on guys as I put in the title Sailor in the 389 00:21:31,250 --> 00:21:33,570 past and we and we played this clip for you guys. 390 00:21:33,570 --> 00:21:36,090 I forget what episode it was but we played this for you guys on 391 00:21:36,090 --> 00:21:39,370 the show before. And Sailor went out and said a 392 00:21:39,370 --> 00:21:43,530 while back that there I think it was a / a year ago that there is 393 00:21:43,610 --> 00:21:48,610 3 things that are needed to take Bitcoin to a $5 million per 394 00:21:48,610 --> 00:21:49,890 coin. And I know you guys are like 395 00:21:49,890 --> 00:21:52,690 whoa, we're getting stupidly bullish today on this Thursday 396 00:21:52,690 --> 00:21:57,200 show. What he is talking about is the 397 00:21:57,200 --> 00:22:00,280 adoption of Bitcoin and eliminating the disincentives 398 00:22:00,280 --> 00:22:03,040 from the traditional financial world to embrace Bitcoin. 399 00:22:03,320 --> 00:22:06,920 Yes, for a while Bitcoin was very much looked at as like, you 400 00:22:06,920 --> 00:22:09,520 know, it's a Ponzi scheme. It's a fad, it's gonna go away. 401 00:22:09,880 --> 00:22:12,720 But after the news that we heard yesterday and I'll bring the 402 00:22:12,720 --> 00:22:14,680 receipts for you guys, I'll explain it completely. 403 00:22:14,680 --> 00:22:16,800 But first, I wanna play this video by Saylor. 404 00:22:17,150 --> 00:22:20,550 It goes to show that the institutions, you know, whether 405 00:22:20,550 --> 00:22:22,870 the BlackRock, whether it's on the nation state level or 406 00:22:22,870 --> 00:22:26,350 nonprofits like Fazbee, the what, what's that financial 407 00:22:26,350 --> 00:22:30,950 accounting standard board. And it goes to show that they're 408 00:22:30,950 --> 00:22:33,310 starting to embrace Bitcoin. And I know I can hear the 409 00:22:33,310 --> 00:22:36,590 bitcoiners out there talking about like, you know, we don't 410 00:22:36,590 --> 00:22:39,590 need the institutions. Well guys, I don't mean to be 411 00:22:39,590 --> 00:22:43,550 the full number go up guy here, but without the liquidity and 412 00:22:43,550 --> 00:22:47,250 capital from traditional financial worlds, the number 413 00:22:47,250 --> 00:22:48,730 isn't going to go up as high as you want. 414 00:22:48,730 --> 00:22:51,050 And of course I want individuals adopting Bitcoin. 415 00:22:51,490 --> 00:22:53,210 As I've been saying, this was inevitable. 416 00:22:53,210 --> 00:22:56,410 We knew that the institutions and corporations and nation 417 00:22:56,410 --> 00:23:00,530 states at a certain point will be adopting Bitcoin and it is 418 00:23:00,530 --> 00:23:03,050 happening probably sooner than most of us thought. 419 00:23:03,050 --> 00:23:05,970 Anyways, let's get into this clip here by Michael Saylor 420 00:23:05,970 --> 00:23:09,810 explaining the three things that will be needed for Bitcoin to 421 00:23:09,810 --> 00:23:14,130 hit $5 million per coin. And you think the catalyst that 422 00:23:14,130 --> 00:23:18,440 10X is it really is? The the moment that JP Morgan 423 00:23:18,440 --> 00:23:21,640 Chase or or or other big money center banks can custody these 424 00:23:21,640 --> 00:23:24,680 for large corporates, that's it. That's the sea change because 425 00:23:24,680 --> 00:23:27,640 there's really no reason why they shouldn't be diversifying 426 00:23:27,640 --> 00:23:28,880 the assets on their balance sheet. 427 00:23:28,880 --> 00:23:31,320 Is that is that your take? Because I know that like Tim 428 00:23:31,320 --> 00:23:32,560 Cook, I don't know where it came from. 429 00:23:32,560 --> 00:23:34,560 Earlier this week he said something like, ah, I own some 430 00:23:34,560 --> 00:23:37,800 Bitcoin but we have no designs on anything or I don't know if 431 00:23:37,800 --> 00:23:39,280 he said Bitcoin or crypto in general. 432 00:23:39,440 --> 00:23:41,480 Is that the thing? And then and then the I. 433 00:23:41,880 --> 00:23:42,240 Think. There's. 434 00:23:43,230 --> 00:23:45,630 Look, first of all, it's going up by a factor of 10 whether 435 00:23:45,630 --> 00:23:47,510 they fix any of the stuff, right? 436 00:23:47,510 --> 00:23:50,790 It's going to go a lot. It's going to be a grind up by a 437 00:23:50,790 --> 00:23:55,350 factor of 10 just because gold is broken and the coin's going 438 00:23:55,350 --> 00:23:57,990 to replace gold. And now everybody in the 439 00:23:57,990 --> 00:24:01,390 universe knows they need a non solver and store a value in the 440 00:24:01,390 --> 00:24:05,470 form of a bearer instrument. So now they're looking the the 441 00:24:05,470 --> 00:24:09,350 amount of stories for last year. People said inflation may be 442 00:24:09,350 --> 00:24:10,430 coming. We're not sure. 443 00:24:10,920 --> 00:24:14,360 Now the mainstream narrative is flipped to inflation is here. 444 00:24:14,360 --> 00:24:18,040 You need inflation hedge. So it's going to grind up to 445 00:24:18,040 --> 00:24:20,760 replace gold. It'll go to $500,000 a coin 446 00:24:20,760 --> 00:24:22,680 regardless of why they fix these things. 447 00:24:22,920 --> 00:24:26,200 But there are three things that are massive catalysts that cause 448 00:24:26,600 --> 00:24:30,880 an acceleration. And I I don't think that those 449 00:24:30,880 --> 00:24:33,760 three things don't take us to 500,000, they take us to 5 450 00:24:33,760 --> 00:24:37,040 million a coin, right, those three things are. 451 00:24:37,810 --> 00:24:42,490 A spot ETF where someone can go ahead and buy $100 million of 452 00:24:42,490 --> 00:24:48,210 Bitcoin by a security and ETF security I think that's 1/2 is 453 00:24:48,810 --> 00:24:52,170 your bank is going to custody it for you and lend against it. 454 00:24:53,410 --> 00:24:59,410 And three is I can mark it up or mark it down on my balance sheet 455 00:24:59,450 --> 00:25:02,490 based on fair value para pursue that. 456 00:25:02,490 --> 00:25:06,570 It'll be para pursued to the way I'd handle Apple stock, or at 457 00:25:06,570 --> 00:25:10,030 least that good. If it's if you have property 458 00:25:10,030 --> 00:25:15,590 with fair value accounting, by the way, it becomes parapasu to 459 00:25:15,590 --> 00:25:19,030 the way you'd handle treasury bonds on a treasury balance 460 00:25:19,030 --> 00:25:20,990 sheet. Treasuries are better than 461 00:25:20,990 --> 00:25:24,710 stocks because Treasury is property whereas a stock is a 462 00:25:24,710 --> 00:25:28,790 security and you're capped out at 40% of your balance sheet is 463 00:25:28,790 --> 00:25:29,630 security. So. 464 00:25:30,110 --> 00:25:35,710 So it would be a major, major breakthrough if if you saw any 465 00:25:35,710 --> 00:25:38,990 of those three things. And I'll end with this one 466 00:25:38,990 --> 00:25:41,030 observation. I tweeted this last week, but I 467 00:25:41,030 --> 00:25:42,750 still I think it's very powerful. 468 00:25:43,110 --> 00:25:46,990 It's if the banks can hold this stuff on their balance sheet, 469 00:25:47,430 --> 00:25:51,510 then a whole new class of investors are going to buy it. 470 00:25:51,510 --> 00:25:54,070 People are going to put in billion and multibillion dollar 471 00:25:54,070 --> 00:25:56,430 orders to buy it as a Treasury asset. 472 00:25:56,870 --> 00:25:59,430 Nobody's going to sell it because because there's no 473 00:25:59,430 --> 00:26:02,910 reason to sell it if you can borrow against it at Libor plus 474 00:26:02,950 --> 00:26:06,230 art, so for plus 50 basis points. 475 00:26:07,010 --> 00:26:09,130 Right. So you'll be you'll be borrowing 476 00:26:09,130 --> 00:26:11,770 against Bitcoin. So for plus 50 or so, for plus 477 00:26:11,770 --> 00:26:14,730 100 basis points, no one's ever gonna sell it. 478 00:26:15,810 --> 00:26:18,610 Oof. OK, guys, now, now, now I hear 479 00:26:18,610 --> 00:26:22,490 some people in the chat already saying, you know, like not not 480 00:26:22,690 --> 00:26:24,250 letting banks custody your Bitcoin. 481 00:26:24,250 --> 00:26:26,530 I know, I get it. I wouldn't do that as well. 482 00:26:26,530 --> 00:26:31,500 But the point of the matter is, two of these three things are in 483 00:26:31,500 --> 00:26:32,900 the process of happening right now. 484 00:26:32,900 --> 00:26:36,580 We all know about the BlackRock Bitcoin ETF, spot Bitcoin ETF's. 485 00:26:36,580 --> 00:26:39,260 Basically, you know, we don't know when it's going to get 486 00:26:39,740 --> 00:26:43,100 approved, but we know it will. It's not a matter of if, it's a 487 00:26:43,100 --> 00:26:46,260 matter of when. And now we have the fast beat 488 00:26:46,260 --> 00:26:49,460 change changing the accounting rules in regards to Bitcoin. 489 00:26:49,700 --> 00:26:52,740 And of course, inevitably the banks will want your Bitcoin, so 490 00:26:52,740 --> 00:26:55,180 don't give them your Bitcoin. Anyways, let's get into this 491 00:26:55,180 --> 00:26:57,700 news because we set the stage for this. 492 00:26:58,230 --> 00:27:02,070 This is how we Bitcoin will get to that $5 million per Bitcoin. 493 00:27:02,070 --> 00:27:05,910 Anyways, I got that before I get into the the actual article 494 00:27:05,910 --> 00:27:09,990 covering what happened, We have James Lavish responding to the 495 00:27:09,990 --> 00:27:12,590 news yesterday saying this is huge development for Bitcoin. 496 00:27:12,590 --> 00:27:15,390 For those interested in the details, he's got a thread here. 497 00:27:15,390 --> 00:27:17,910 So I'm going to break down the thread of when this was 498 00:27:17,910 --> 00:27:21,430 initially talked about and then we'll get into the coverage from 499 00:27:21,430 --> 00:27:24,190 Bitcoin Magazine. So the latest Fazbe ruling will 500 00:27:24,190 --> 00:27:26,910 be pretty big deal for Bitcoin. And of course, this was November 501 00:27:26,910 --> 00:27:30,230 14th, 2022. But what's FASBE and why should 502 00:27:30,230 --> 00:27:33,070 you care? Accounting is boring, but the 503 00:27:33,070 --> 00:27:36,310 latest FASBE vote opens the door for companies to buy and hold 504 00:27:36,310 --> 00:27:38,950 Bitcoin and corporate treasuries without balance sheet penalties. 505 00:27:38,950 --> 00:27:41,270 OK, so how? Let's walk through it nice and 506 00:27:41,270 --> 00:27:43,710 easy, shall we? First, the Financial Accounting 507 00:27:43,710 --> 00:27:47,470 Standards Board, known as FASBE, is an independent organization 508 00:27:47,630 --> 00:27:50,550 that establishes accounting and financial reporting standards 509 00:27:50,550 --> 00:27:54,510 for US based companies. These are known as the Generally 510 00:27:54,510 --> 00:27:56,510 Accepted Accounting Principles or GAP. 511 00:27:56,790 --> 00:28:00,950 As investors, why do care? Because the SEC recognizes FAS B 512 00:28:00,950 --> 00:28:03,910 as the official accounting rule maker for US public companies. 513 00:28:04,070 --> 00:28:06,830 And if companies do not follow gap principles, they're out of 514 00:28:06,830 --> 00:28:09,750 compliance and no respectable accounting firm will certify 515 00:28:09,750 --> 00:28:13,230 their financials as correct. At the heart of why the latest 516 00:28:13,230 --> 00:28:16,790 FAS B ruling matters for Bitcoin is the long lived intangible 517 00:28:16,790 --> 00:28:19,270 asset. See, FAS B originally determined 518 00:28:19,430 --> 00:28:21,870 that Bitcoin was to be considered a long lived 519 00:28:21,870 --> 00:28:25,670 intangible asset, much like a patent, copyright, or trademark. 520 00:28:25,670 --> 00:28:28,630 And this creates a problem when the asset is accounted before on 521 00:28:28,630 --> 00:28:32,790 a company's balance sheet. So we have the basics, the 522 00:28:32,790 --> 00:28:35,510 pretense of where we were and where we're going. 523 00:28:35,510 --> 00:28:38,470 And on the news yesterday, Saylor tweeted the original 524 00:28:38,470 --> 00:28:39,950 article. I'm not gonna use the original 525 00:28:39,950 --> 00:28:45,160 Bloomberg Tax article because it it's not as as succinct as the 526 00:28:45,160 --> 00:28:46,880 Bitcoin Magazine one, so I'll use that one. 527 00:28:46,880 --> 00:28:49,320 But he's quote tweeting the article from Bloomberg Tax where 528 00:28:49,320 --> 00:28:52,320 the news came from and say it goes fair value accounting is 529 00:28:52,320 --> 00:28:55,040 coming to Bitcoin. This up upgrade to Fazbe 530 00:28:55,040 --> 00:28:58,200 accounting rules eliminates a major impediment to corporate 531 00:28:58,200 --> 00:29:01,720 adoption of BTC as a Treasury asset. 532 00:29:01,720 --> 00:29:05,080 You heard the 1st. All right, so here we are on 533 00:29:05,080 --> 00:29:08,000 Bitcoin Magazine shouts out to my boy Nick Kaufman, who wrote 534 00:29:08,000 --> 00:29:11,320 the article and he goes Fazbe votes in favor of Fair value 535 00:29:11,320 --> 00:29:14,040 accounting for Bitcoin. In long and anticipated move, 536 00:29:14,160 --> 00:29:17,000 Bloomberg Tax reported that the Financial Accounting Standards 537 00:29:17,000 --> 00:29:20,680 Board, aka Fazbee, is set to introduce new fair value 538 00:29:20,680 --> 00:29:23,360 accounting rules for Bitcoin and other crypto currencies. 539 00:29:23,520 --> 00:29:26,680 These new rules aim to provide a more accurate reflection of the 540 00:29:26,680 --> 00:29:29,920 market value of digital assets and bring greater transparency 541 00:29:29,920 --> 00:29:32,280 to the financial reporting of companies that hold crypto 542 00:29:32,280 --> 00:29:34,720 currencies. The rules, expected to be 543 00:29:34,720 --> 00:29:38,030 published by the end of the year, are set to go into effect 544 00:29:38,190 --> 00:29:41,270 as soon as 2025, but companies will be able to apply them 545 00:29:41,270 --> 00:29:43,150 earlier than that, the report said. 546 00:29:43,390 --> 00:29:47,030 For years, the valuation of cryptocurrencies like Bitcoin 547 00:29:47,230 --> 00:29:50,070 has been a challenging aspect of financial reporting for 548 00:29:50,070 --> 00:29:52,110 companies. The volatile nature of these 549 00:29:52,110 --> 00:29:55,110 digital assets has made it difficult to accurately assess 550 00:29:55,110 --> 00:29:58,070 their fair market value Under the current accounting 551 00:29:58,070 --> 00:30:00,310 standards. Companies often struggle to 552 00:30:00,310 --> 00:30:02,310 present a true picture of their financial health. 553 00:30:02,690 --> 00:30:05,490 As the value of Bitcoin and cryptocurrencies fluctuated 554 00:30:05,490 --> 00:30:08,890 widely, the Fazbees move to introduce fair value Accounting 555 00:30:08,890 --> 00:30:12,370 rules will require companies to regularly assess the fair market 556 00:30:12,370 --> 00:30:16,210 value of the digital assets and report any fluctuations in value 557 00:30:16,210 --> 00:30:17,770 as part of their financial statements. 558 00:30:17,970 --> 00:30:20,770 This means that if the price of Bitcoin surges or plummets, 559 00:30:20,770 --> 00:30:23,730 companies will have to reflect these changes in their financial 560 00:30:23,730 --> 00:30:27,050 reports, providing stakeholders with a more accurate picture of 561 00:30:27,050 --> 00:30:29,810 their financial position. The old treatment accounted for 562 00:30:29,810 --> 00:30:33,010 Bitcoin as an intangible asset, which meant if the the price 563 00:30:33,010 --> 00:30:35,890 went lower than what companies bought it for, they had to take 564 00:30:35,890 --> 00:30:38,690 an impairment charge on their books even if they didn't sell. 565 00:30:38,970 --> 00:30:41,490 But if the price went up, they couldn't receive any benefits on 566 00:30:41,490 --> 00:30:44,570 their books unless they sold. Now with fair value accounting, 567 00:30:44,570 --> 00:30:48,090 periodically i.e. every quarter, companies can report the 568 00:30:48,130 --> 00:30:51,050 unrealized gains and losses to get an actual benefit on their 569 00:30:51,050 --> 00:30:52,610 books. If the price of the asset 570 00:30:52,610 --> 00:30:55,890 increases without having to sell to capture, this could make 571 00:30:55,890 --> 00:30:58,330 companies more likely to add Bitcoin to the balance sheet and 572 00:30:58,330 --> 00:31:01,530 become longterm holders as they can report the appreciation 573 00:31:01,650 --> 00:31:04,890 without having to anything. Investors and regulators will 574 00:31:04,890 --> 00:31:07,930 now have access to more timely and accurate information about 575 00:31:07,930 --> 00:31:09,730 the financial health of companies involved in the 576 00:31:09,730 --> 00:31:12,210 Bitcoin space. This increased transparency is 577 00:31:12,210 --> 00:31:15,250 expected to foster greater trust and confidence in the industry, 578 00:31:15,410 --> 00:31:18,290 which has often been plagued by concerns over its lack of 579 00:31:18,330 --> 00:31:21,170 oversight and regulation. The move towards fair value 580 00:31:21,170 --> 00:31:24,250 accounting also aligned with the growing acceptance of Bitcoin 581 00:31:24,290 --> 00:31:27,090 and mainstream finance. As it becomes more integrated 582 00:31:27,090 --> 00:31:29,650 into the global financial system, it is essential that 583 00:31:29,650 --> 00:31:32,570 accounting standards evolved to accommodate digital assets. 584 00:31:32,770 --> 00:31:35,970 The FASBE decision to implement fair value accounting rule is a 585 00:31:36,010 --> 00:31:39,610 recognition of the maturing market and its importance in the 586 00:31:39,610 --> 00:31:44,500 broader economy. So TLDR guys, from what I take 587 00:31:44,500 --> 00:31:47,620 from this, again I am no accountant, I am no financial 588 00:31:47,620 --> 00:31:51,100 advisor. But the TLDR of this, from my 589 00:31:51,100 --> 00:31:54,700 opinion and from what I'm reading is that now one of the 590 00:31:54,700 --> 00:31:57,460 main obstacles for companies holding Bitcoin on their balance 591 00:31:57,460 --> 00:31:59,940 sheet has is going to get wiped away. 592 00:31:59,940 --> 00:32:03,900 And of course the news this these rule books won't be fully 593 00:32:04,460 --> 00:32:07,720 released until the end of the year, so a couple of months and 594 00:32:07,720 --> 00:32:10,920 they won't be implemented until 2025, which a little side 595 00:32:10,920 --> 00:32:13,960 tangent I feel like is going to be the perfect timing because 596 00:32:13,960 --> 00:32:16,640 it's going to be like at the very tip of the bull run guys. 597 00:32:16,640 --> 00:32:20,280 So some more hope I'm in there for you guys, but you can if 598 00:32:20,280 --> 00:32:22,960 your company and you want to get Bitcoin on your balance sheet, 599 00:32:22,960 --> 00:32:27,080 you can probably use these rulings in 2020. 4 But you can. 600 00:32:27,360 --> 00:32:29,000 They explicitly stated that you can. 601 00:32:29,040 --> 00:32:31,560 You can use it for. I think you can even use it 602 00:32:32,920 --> 00:32:34,940 relatively immediately. Yeah. 603 00:32:35,060 --> 00:32:36,740 Yeah. I might be wrong in the sense of 604 00:32:36,740 --> 00:32:40,020 like they can use it for like maybe even this year. 605 00:32:40,860 --> 00:32:44,900 Yeah, we'll see this year. I'm sure Micro Strategies will 606 00:32:44,900 --> 00:32:49,820 come out with some. I'm getting trouble with some 607 00:32:49,820 --> 00:32:53,260 news about him using this. But essentially guys, this opens 608 00:32:53,260 --> 00:32:57,340 up the whole landscape for corporations to add Bitcoin to 609 00:32:57,340 --> 00:32:59,540 their balance sheet. Because like we all know, 610 00:32:59,540 --> 00:33:03,500 especially on an individual level, the amount of obstacles 611 00:33:03,500 --> 00:33:07,420 and loopholes that you have to do to be, you know, legit in 612 00:33:07,420 --> 00:33:10,940 regards to holding and saving your Bitcoin, it's it's 613 00:33:10,940 --> 00:33:13,220 astronomical. It it's it's a huge headache. 614 00:33:13,500 --> 00:33:17,380 And now the fact that corporations can use this new 615 00:33:17,380 --> 00:33:20,900 fair market valuing for accounting just goes to show 616 00:33:20,900 --> 00:33:24,860 that not only is the traditional financial world picking up and 617 00:33:24,860 --> 00:33:28,900 and basically embracing Bitcoin, which is something that we all 618 00:33:28,900 --> 00:33:32,220 want to see, of course we we want to route around the system. 619 00:33:32,220 --> 00:33:35,740 But it's inevitable that they were going to start to look at 620 00:33:35,740 --> 00:33:38,580 Bitcoin a lot more fairly. And again for those guys out 621 00:33:38,580 --> 00:33:40,460 there, they're like what the hell was Saylor talking about 622 00:33:40,460 --> 00:33:42,500 Para Pasu? Like what does that even mean? 623 00:33:43,100 --> 00:33:45,300 I looked it up and it means equal footing guys. 624 00:33:45,300 --> 00:33:49,100 So now you can hold Bitcoin on your balance sheet like anything 625 00:33:49,100 --> 00:33:53,720 else that is like like it. So if you are a company and the 626 00:33:53,720 --> 00:33:57,520 way that I heard this shouts out to the swan stream, they did a 627 00:33:57,520 --> 00:33:59,480 stream yesterday with Nico and Terrence. 628 00:33:59,800 --> 00:34:04,320 And essentially if you had bought Bitcoin at 50K and it 629 00:34:04,320 --> 00:34:09,530 dropped to like 15 K and then it went back up to whatever 25K on 630 00:34:09,530 --> 00:34:12,850 your balance sheet, you would only be able to mark that 15K 631 00:34:12,850 --> 00:34:17,090 price and you you never get the gains of the price going up 632 00:34:17,090 --> 00:34:19,850 again. And now and I think that was on 633 00:34:19,850 --> 00:34:23,770 a yearly level and now you can readjust that your balance sheet 634 00:34:23,889 --> 00:34:26,810 on a quarterly level. So if the Bitcoin price is 635 00:34:26,810 --> 00:34:30,449 fluctuating, you don't have to mark it down, you don't have to 636 00:34:30,449 --> 00:34:31,929 get wrecked on your shareholders. 637 00:34:32,250 --> 00:34:37,159 And this is 1 huge thing to open up even more capital going into 638 00:34:37,159 --> 00:34:39,760 Bitcoin. And I know, I know everyone in 639 00:34:39,760 --> 00:34:43,800 that in the chat is kind of like, OK, why is this matter to 640 00:34:43,800 --> 00:34:45,880 me bro? Like I am just an individual 641 00:34:45,880 --> 00:34:47,800 holding Bitcoin. I'm not a corporation. 642 00:34:48,080 --> 00:34:51,400 Well, we known that this was inevitable that the corporations 643 00:34:51,400 --> 00:34:54,639 are going to get into Bitcoin and now those obstacles are 644 00:34:54,639 --> 00:34:57,880 getting removed and the amount of capital that's going to get 645 00:34:57,880 --> 00:35:01,260 injected into Bitcoin from like Sailor was saying, you know some 646 00:35:01,260 --> 00:35:04,700 with $100 million wanting to buy Bitcoin, now they can do that 647 00:35:04,700 --> 00:35:07,980 easily. And with the BlackRock ETF news, 648 00:35:07,980 --> 00:35:11,980 I think it is showing that this time might be different guys, 649 00:35:11,980 --> 00:35:14,620 this bear market might be the best bear market we've seen in a 650 00:35:14,620 --> 00:35:18,940 long time on a number go up level, but on a on a 651 00:35:19,180 --> 00:35:22,740 entrepreneur building out the network level it's even just as 652 00:35:22,740 --> 00:35:25,660 good. We've seen the hash rate respond 653 00:35:26,900 --> 00:35:30,820 massively since the China ban. It's it's incredible how how 654 00:35:30,820 --> 00:35:34,380 much hash power has came back online after the China ban and 655 00:35:34,380 --> 00:35:37,020 it just goes to show that Honey Badger don't care, you cannot 656 00:35:37,020 --> 00:35:39,700 stop the honey Badger. Bitcoin is taking over the world 657 00:35:40,100 --> 00:35:43,740 and it's starting of course on an individual grassroots level 658 00:35:43,980 --> 00:35:47,740 and now it is going on to the corporate and nation state level 659 00:35:47,820 --> 00:35:51,140 and moving forward guys, I think it's going to be very 660 00:35:51,140 --> 00:35:54,670 interesting and surprising to see how much capital gets 661 00:35:54,670 --> 00:35:58,670 injected into Bitcoin now that all the loopholes are are 662 00:35:58,670 --> 00:36:01,870 getting washed away and Bitcoin is getting embraced. 663 00:36:01,870 --> 00:36:06,270 So of course on a certain level I think it's a time where I have 664 00:36:06,270 --> 00:36:09,630 to do the the PS:. A of take your Bitcoin into self 665 00:36:09,630 --> 00:36:11,950 custody, do not give them your Bitcoin. 666 00:36:12,030 --> 00:36:16,030 You know, we we we don't we don't like paper Bitcoin and we 667 00:36:16,030 --> 00:36:19,470 want people to hold Bitcoin because it is a digital bearer 668 00:36:19,470 --> 00:36:22,030 instrument and you do not need to trust these middle men. 669 00:36:22,310 --> 00:36:26,450 But if you're in the traditional financial world, the amount of 670 00:36:26,450 --> 00:36:28,970 loopholes that you have to go to get your capital in the Bitcoin 671 00:36:28,970 --> 00:36:33,730 are starting to get washed away. And by 2025, you know if we do 672 00:36:33,730 --> 00:36:37,290 make it into another bull run guys, I think it's everything is 673 00:36:37,290 --> 00:36:39,610 going to line up perfectly and the and the stars are going to 674 00:36:39,610 --> 00:36:43,890 line, whether it's the the spot Bitcoin ETF in the US, whether 675 00:36:44,050 --> 00:36:48,730 when the fast B rules come out and the price starts to surge. 676 00:36:49,690 --> 00:36:51,850 Wow. You know, I don't want to say 677 00:36:51,850 --> 00:36:54,570 this is a super cycle, but we made it never come down again. 678 00:36:54,570 --> 00:36:55,810 Be smart guys. Stay humble. 679 00:36:55,810 --> 00:36:59,730 Stacks at stay solvent. Anyways, Matt, Mike, I know you 680 00:37:00,170 --> 00:37:01,730 you did a little digging in this. 681 00:37:01,730 --> 00:37:04,250 Is there anything that I missed that you want to add on top of 682 00:37:04,250 --> 00:37:07,810 this? Yeah, I think this this goes 683 00:37:07,810 --> 00:37:12,570 back to kind of like the talking point that I've been really 684 00:37:12,650 --> 00:37:16,330 trying to get out into the the Twittersphere and the Bitcoin 685 00:37:16,330 --> 00:37:19,410 community is that. We keep talking about Bitcoin 686 00:37:19,410 --> 00:37:22,850 strictly from like these kind of like these financial means like 687 00:37:22,850 --> 00:37:24,610 this fast. We move like everybody's talking 688 00:37:24,610 --> 00:37:27,850 about it from like a portfolio management or like a like a 689 00:37:27,890 --> 00:37:31,290 banking standpoint or like corporate balance sheet without 690 00:37:31,290 --> 00:37:32,770 which I would just roll into banking. 691 00:37:35,010 --> 00:37:40,610 This also plays a massive role in my opinion in the whole 692 00:37:40,610 --> 00:37:44,730 Bitcoin mining space, like Bitcoin miners that are taking 693 00:37:44,730 --> 00:37:48,500 the their produced. Bitcoin for their operations and 694 00:37:48,500 --> 00:37:50,420 keeping them on their balance sheet. 695 00:37:52,220 --> 00:37:55,060 Like you said, it doesn't just it, it takes away the the 696 00:37:55,060 --> 00:38:00,140 relationship of acquiring and accumulating Bitcoin on their 697 00:38:00,140 --> 00:38:03,260 balance sheet as just a strict negative which is how it was 698 00:38:03,580 --> 00:38:06,860 structured with the being an intangible asset like James 699 00:38:06,860 --> 00:38:11,100 Lavish discussed. Now they can take advantage of 700 00:38:12,140 --> 00:38:15,260 the fact that like when when we have our bull markets, when 701 00:38:15,260 --> 00:38:18,650 price appreciates. It like having Bitcoin doesn't 702 00:38:18,650 --> 00:38:24,370 have to be only reported by the bear market value which I think 703 00:38:24,370 --> 00:38:27,930 we would all agree seems a little unfair considering it is 704 00:38:28,130 --> 00:38:31,370 a it is treated as a commodity, but then we're going to treat it 705 00:38:31,370 --> 00:38:32,770 like a patent. At the same time. 706 00:38:32,770 --> 00:38:35,890 It's like that that there's there's an incongruence there, 707 00:38:35,890 --> 00:38:39,890 like there's a a misalignment with the the understanding and 708 00:38:39,890 --> 00:38:44,240 the the incentives. Now I want to go further too, 709 00:38:44,240 --> 00:38:46,720 because it's not just the Bitcoin miners that stand to 710 00:38:46,920 --> 00:38:53,160 really benefit. I would also speculate that the 711 00:38:54,280 --> 00:38:56,800 oil and gas majors and the energy producers that are 712 00:38:56,800 --> 00:39:00,920 utilizing Bitcoin mining, they now have an incentive, or at 713 00:39:00,920 --> 00:39:06,320 least an Ave. to not just liquidate their Bitcoin 714 00:39:06,320 --> 00:39:10,040 production for revenue, they can use it as a balance sheet 715 00:39:10,040 --> 00:39:13,160 booster. In a sense of you putting it, 716 00:39:13,320 --> 00:39:18,840 putting it down as an asset and that being reflected positively 717 00:39:18,840 --> 00:39:23,880 during bull market activity and events to their shareholders and 718 00:39:23,880 --> 00:39:27,720 their stakeholders. Because like, like, like think 719 00:39:27,720 --> 00:39:30,880 about it in the sense of if you're a shareholder or a 720 00:39:30,880 --> 00:39:33,120 stakeholder, one of these energy producers where it's oil and 721 00:39:33,120 --> 00:39:35,000 gas, nuclear, solar, wind, it doesn't matter. 722 00:39:36,000 --> 00:39:37,680 Say they're using Bitcoin mining. 723 00:39:38,030 --> 00:39:40,790 To improve their operational efficiencies, like I've talked 724 00:39:40,790 --> 00:39:43,830 with you guys ad nauseam many times about how Bitcoin mining 725 00:39:43,830 --> 00:39:46,190 does push the efficiencies up into the green. 726 00:39:47,990 --> 00:39:52,590 Imagine that they're putting Bitcoin on the balance sheet, 727 00:39:52,790 --> 00:39:57,070 like whatever excess they don't need to sell, but their 728 00:39:57,070 --> 00:40:00,510 financials are reflecting negatives because the price has 729 00:40:00,510 --> 00:40:03,910 gone down so much like say from like a a bull market peak. 730 00:40:04,820 --> 00:40:08,140 And it goes from like we'll just use the example of like the the 731 00:40:09,340 --> 00:40:12,860 the last bull run going up to 69 K and then down to 15. 732 00:40:15,140 --> 00:40:19,220 Imagine being a shareholder for one of these operations or one 733 00:40:19,220 --> 00:40:23,420 of these companies that's mining Bitcoin and their financials 734 00:40:23,420 --> 00:40:28,700 look abysmal because Bitcoin's value has gone down so far and 735 00:40:28,700 --> 00:40:30,980 they have to report it by the bear market bottom. 736 00:40:31,580 --> 00:40:34,140 It's just like why? Why are we doing this? 737 00:40:34,750 --> 00:40:37,190 You know, because that that's that's what the that's what the 738 00:40:37,190 --> 00:40:39,710 Normie shareholder that's not orange filled. 739 00:40:39,710 --> 00:40:42,710 It's like why are you putting this asset on the balance sheet 740 00:40:42,710 --> 00:40:45,670 that's dragging down the value of the company so much? 741 00:40:46,430 --> 00:40:49,510 That's and that and like this Fast B thing when it goes 742 00:40:49,510 --> 00:40:52,270 through at the end of the year, it's completely changes the 743 00:40:52,270 --> 00:40:55,220 relationship. Yeah, 100% and remember, 744 00:40:55,220 --> 00:40:59,580 remember, I don't remember if it was this year or the end of last 745 00:40:59,580 --> 00:41:04,780 year, but remember how much crap Sailor was getting from the the 746 00:41:04,780 --> 00:41:07,580 markdown on their Bitcoin and and. 747 00:41:08,000 --> 00:41:10,680 The amount of FUD that went around on corporate press like 748 00:41:10,680 --> 00:41:12,920 this is going to be completely eliminated. 749 00:41:13,200 --> 00:41:15,640 You know, maybe it's not this year, but when the rules 750 00:41:15,640 --> 00:41:19,680 officially go in at the very end of 2024, this is going to really 751 00:41:19,680 --> 00:41:22,920 open up the doors. And our boy BTC is truth is in 752 00:41:22,920 --> 00:41:25,800 the chat and he goes, I'm an accountant and this is a huge 753 00:41:25,800 --> 00:41:27,280 deal. And he's not the only one of my 754 00:41:27,280 --> 00:41:30,520 friends that told me this. Our boy, he was, he was on, what 755 00:41:30,520 --> 00:41:34,040 was it Tuesday, Zach. He came on and he was going wild 756 00:41:34,040 --> 00:41:36,800 in the Dm's with me and being like, dude, this is huge, like, 757 00:41:36,800 --> 00:41:40,360 you guys have to cover this. This because it really does open 758 00:41:40,360 --> 00:41:42,960 up so much capital for a corporate adoption level. 759 00:41:42,960 --> 00:41:45,480 And again, BTC true is jumping in because the accountant 760 00:41:45,480 --> 00:41:47,720 treatment was one of the biggest roadblocks to corporate 761 00:41:47,800 --> 00:41:50,000 adoption. And you know Mike has been 762 00:41:50,000 --> 00:41:53,960 talking about it for Bitcoin miners and and even companies 763 00:41:53,960 --> 00:41:57,320 that are in the Bitcoin space. But this is huge for every 764 00:41:57,560 --> 00:42:00,720 business out there from a private to a publicly owned 765 00:42:00,720 --> 00:42:04,440 company. This is going to open up so much 766 00:42:04,440 --> 00:42:06,320 capital coming into Bitcoin. But again. 767 00:42:06,710 --> 00:42:09,590 You know as a as the ardent bitcoiners here, you want to be 768 00:42:09,590 --> 00:42:11,750 taking Bitcoin into self custody. 769 00:42:11,750 --> 00:42:14,110 You don't need to spot Bitcoin ETF to get exposure. 770 00:42:14,110 --> 00:42:18,710 Just buy Bitcoin itself and take Bitcoin into self custody and 771 00:42:18,710 --> 00:42:21,110 you can benefit from all of the features we've been talking 772 00:42:21,110 --> 00:42:25,750 about to Bitcoin. Anyways, before I move on guys, 773 00:42:25,950 --> 00:42:30,990 I got to plug our boys. Brian de Mint book Bitcoin 774 00:42:30,990 --> 00:42:33,550 Evangelism if you are having trouble. 775 00:42:34,280 --> 00:42:37,080 Having these conversations about Bitcoin what's What's the one 776 00:42:37,080 --> 00:42:40,280 that everyone likes? Aunt Edna saying that Bitcoin is 777 00:42:40,280 --> 00:42:43,200 the currency of the Antichrist? You know, you're skeptical. 778 00:42:43,200 --> 00:42:46,760 No Coiners objections Your boomer neighbor out there, which 779 00:42:46,760 --> 00:42:50,600 now most of his concerns are probably washed away after 2025. 780 00:42:50,840 --> 00:42:53,440 Or, you know, the guy at work. That's like Bitcoin price is 781 00:42:53,440 --> 00:42:56,280 down, you got so wrecked. Get Bitcoin Evangelism on 782 00:42:56,280 --> 00:43:00,840 Amazon, scan the QR code below or get on Orange Pill app and 783 00:43:00,840 --> 00:43:03,840 you can pay it. Directly and stats to Brian de 784 00:43:03,840 --> 00:43:06,320 Mint. And the point is here guys is 785 00:43:06,920 --> 00:43:10,160 you know, I find it extremely hard to get normies to read all 786 00:43:10,160 --> 00:43:12,440 this stuff. So it's about you reading this 787 00:43:12,440 --> 00:43:15,200 stuff and you being prepared and you having the answers for your 788 00:43:15,200 --> 00:43:18,160 friends so you can incept these ideas out there to the normies 789 00:43:18,520 --> 00:43:21,330 because hey. You know they don't got the they 790 00:43:21,330 --> 00:43:25,930 don't, they don't have the mental bandwidth to care about 791 00:43:25,970 --> 00:43:28,650 any of this stuff. OK, anyways, let's get into the 792 00:43:28,650 --> 00:43:31,730 culture, cuz I do want to jump in on this topic about Bitcoin 793 00:43:31,730 --> 00:43:33,330 as a store of value medium exchange. 794 00:43:33,370 --> 00:43:35,850 You never count stuff going around Twitter again. 795 00:43:38,050 --> 00:43:41,530 The daily culture. Brought to you by Swan 796 00:43:41,570 --> 00:43:45,890 bitcoin.com Swan is the best way to build your Bitcoin stack with 797 00:43:45,930 --> 00:43:49,570 automated Bitcoin savings plans and instant purchases serving 798 00:43:49,570 --> 00:43:53,890 clients of any size from $10 to $10 million. 799 00:43:53,890 --> 00:43:57,290 We love Swan because they incentivize self custody and 800 00:43:57,290 --> 00:43:59,890 dollar cost averaging. What are you waiting for? 801 00:43:59,890 --> 00:44:04,390 Visit swanbitcoin.com today. Let's go. 802 00:44:04,390 --> 00:44:07,030 All right, guys. So jumping right into the 803 00:44:07,030 --> 00:44:09,470 culture today, and Mike brought it up earlier. 804 00:44:09,470 --> 00:44:11,030 Mike, what was what was the meme? 805 00:44:11,030 --> 00:44:13,710 You said Bitcoin is hope because of its because it's store of 806 00:44:13,710 --> 00:44:14,990 value properties. Yeah. 807 00:44:15,230 --> 00:44:17,590 All right, guys. So keep that in mind while we 808 00:44:17,590 --> 00:44:20,110 have this conversation today. And the reason I was gonna do 809 00:44:20,110 --> 00:44:22,710 this yesterday, but we had Alex come in last minute. 810 00:44:23,180 --> 00:44:27,980 And remember last week we had our boy kinetic finance come in 811 00:44:27,980 --> 00:44:30,220 and we were getting rushed in the chat about using your 812 00:44:30,220 --> 00:44:33,140 Bitcoin, spending your Bitcoin, you know, participating in the 813 00:44:33,140 --> 00:44:35,780 circular economy. And while I totally agree, you 814 00:44:35,780 --> 00:44:39,220 know, Bitcoin is my money, I have to use it for survival. 815 00:44:39,500 --> 00:44:41,900 You know, it is what it is. We still. 816 00:44:42,890 --> 00:44:45,970 Double down on the idea of stack stats and stay solving guys. 817 00:44:46,210 --> 00:44:48,730 Do not let the people out there confuse you. 818 00:44:49,090 --> 00:44:51,530 You know the classic article. Everyone is a scammer. 819 00:44:51,690 --> 00:44:53,890 Hoddling Bitcoin is using Bitcoin. 820 00:44:53,890 --> 00:44:57,170 Again, Hoddling Bitcoin is using Bitcoin. 821 00:44:57,330 --> 00:45:01,370 Storing value in Bitcoin is one of the biggest factors of 822 00:45:01,370 --> 00:45:03,490 Bitcoin. As I always say, you need to 823 00:45:03,490 --> 00:45:05,770 have some capital before you can spend it guys. 824 00:45:05,770 --> 00:45:08,690 So you need to save in Bitcoin first and foremost, you know? 825 00:45:08,740 --> 00:45:12,660 You know, it gets complicated with the jargon of the common 826 00:45:12,660 --> 00:45:15,700 nomenclature of hoddling your Bitcoin, but you're literally 827 00:45:15,700 --> 00:45:17,820 just saving. You're building up your capital 828 00:45:17,820 --> 00:45:21,460 reserves because you need to have some capital if you're ever 829 00:45:21,460 --> 00:45:24,820 going to spend it. Anyways, I saw this thread here 830 00:45:24,860 --> 00:45:26,900 and it goes. I actually have a few different 831 00:45:26,900 --> 00:45:31,380 tweets here, but Stefan Lovera. Tweeted this and he went back 832 00:45:31,380 --> 00:45:34,340 and forth with someone and it. The reason I want to bring this 833 00:45:34,340 --> 00:45:37,180 up is because there still seems to be a lot of confusion of 834 00:45:37,180 --> 00:45:40,060 people from people out there that just toddling Bitcoin. 835 00:45:40,060 --> 00:45:42,260 Isn't using Bitcoin. Oh, you know, you're just saving 836 00:45:42,260 --> 00:45:43,860 a Bitcoin. It's sitting there on the side. 837 00:45:43,860 --> 00:45:45,460 You're never you're not moving it. 838 00:45:45,660 --> 00:45:46,820 And it really, it really gets me. 839 00:45:46,820 --> 00:45:48,060 Think of the Keynesians out there. 840 00:45:48,060 --> 00:45:49,900 It's like, oh, the velocity of money. 841 00:45:49,900 --> 00:45:52,580 Like you need money to circular to go circular around the 842 00:45:52,580 --> 00:45:55,260 economy for it to be used. It's like, bro, you need 843 00:45:55,260 --> 00:45:57,340 savings. Like this whole thing is 844 00:45:57,340 --> 00:45:59,300 starting with a savings revolution. 845 00:45:59,710 --> 00:46:01,870 And that is the 21 million hard cap. 846 00:46:01,870 --> 00:46:05,790 Store value is one of the main benefits of Bitcoin anyways, as 847 00:46:05,790 --> 00:46:08,550 something I've been saying on the show constantly is don't be 848 00:46:08,550 --> 00:46:11,310 ashamed of being a bitcoiner. And Stefan Labera tweets 849 00:46:11,310 --> 00:46:13,310 basically the same thing. And then it goes into this 850 00:46:13,310 --> 00:46:16,150 conversation, so he goes. Don't be silent about being a 851 00:46:16,190 --> 00:46:18,910 bitcoiner. Normalizing Bitcoin use is the 852 00:46:18,910 --> 00:46:20,630 goal. Highly agree. 853 00:46:20,630 --> 00:46:22,790 Whether that's storing your value in it, whether that's 854 00:46:22,790 --> 00:46:25,390 paying it, whether you're a merchant accepting Bitcoin. 855 00:46:25,590 --> 00:46:27,790 Normalizing the use of Bitcoin is the goal. 856 00:46:28,070 --> 00:46:30,630 But we got a response here by Tony Takata and he goes 857 00:46:30,870 --> 00:46:35,470 normalize the use or the use as savings, same thing. 858 00:46:35,970 --> 00:46:38,250 Exactly, exactly. That's the that's the whole 859 00:46:38,250 --> 00:46:41,130 contention here, and Stefan La Vera double s out and goes let 860 00:46:41,130 --> 00:46:44,130 there be no doubt about it, Hoddling Bitcoin counts as using 861 00:46:44,130 --> 00:46:46,450 Bitcoin. It's so simple, guys, and then 862 00:46:46,450 --> 00:46:48,010 someone responds. No, it doesn't. 863 00:46:48,010 --> 00:46:50,650 It's a dead action. If every bitcoiner did nothing 864 00:46:50,650 --> 00:46:53,530 but hold, the network would collapse as inflation dried up 865 00:46:53,530 --> 00:46:57,250 and price would fade to nothing without buying and selling. 866 00:46:57,450 --> 00:46:59,840 And Stefan La Vera. Bubbles down and goes. 867 00:46:59,840 --> 00:47:02,760 Huddling is not a dead action. Everything is a dead action. 868 00:47:03,120 --> 00:47:06,600 What the hell exactly. Every day a huddler wakes up, he 869 00:47:06,600 --> 00:47:10,560 could spend or sell these coins and that he chooses to huddle is 870 00:47:10,560 --> 00:47:13,520 important. Guys like don't let people scam 871 00:47:13,520 --> 00:47:16,440 you out of your Bitcoin because they want you to use it because 872 00:47:16,560 --> 00:47:19,360 hey, everyone's a scammer. I want your Bitcoin. 873 00:47:19,400 --> 00:47:20,800 I'm. I'm open about it. 874 00:47:20,840 --> 00:47:22,680 I want as much Bitcoin as possible. 875 00:47:22,840 --> 00:47:26,160 But I also understand that saving in Bitcoin. 876 00:47:26,540 --> 00:47:29,220 You know, the 21 million hard cap, the store of value features 877 00:47:29,220 --> 00:47:32,220 of Bitcoin is might. It depends. 878 00:47:32,220 --> 00:47:33,580 Oh yeah. They might be one of the most 879 00:47:33,580 --> 00:47:37,900 important aspects of Bitcoin. And doubling down on this, I I 880 00:47:37,900 --> 00:47:39,500 hope you all know safety in almost. 881 00:47:39,500 --> 00:47:40,420 I'm not gonna read the whole thing. 882 00:47:40,420 --> 00:47:41,740 I'm not really. Yeah. 883 00:47:41,740 --> 00:47:42,620 We're not reading the whole thing. 884 00:47:42,780 --> 00:47:45,940 It's just the beginning because he kind of goes into like drive 885 00:47:45,940 --> 00:47:47,420 chains here. But that's that's a totally 886 00:47:47,420 --> 00:47:50,340 different conversation. I wanted to bring up this. 887 00:47:50,810 --> 00:47:54,250 First paragraph, because safety and of course the author of 888 00:47:54,250 --> 00:47:56,770 Bitcoin Standard, the Fiat standard and principles of 889 00:47:56,810 --> 00:48:00,130 Economics, Austrian bitcoiner advisor to El Salvador. 890 00:48:01,180 --> 00:48:05,020 He's got a very telling example here, and I mean I'm not from 891 00:48:05,260 --> 00:48:09,940 his home country, but as a person that has built a savings 892 00:48:09,940 --> 00:48:13,420 in Bitcoin and completely changed my life, I I fully agree 893 00:48:13,420 --> 00:48:14,740 and double down on this sentiment. 894 00:48:14,740 --> 00:48:18,100 So safety and goes here and he goes Bitcoin as it is saved my 895 00:48:18,100 --> 00:48:20,140 family from hyperinflation in Lebanon. 896 00:48:20,340 --> 00:48:22,220 It is entirely essential to my life. 897 00:48:22,420 --> 00:48:24,260 It works perfectly fine for me as it is. 898 00:48:24,260 --> 00:48:27,500 It is not some cool piece of software whose next iterations 899 00:48:27,500 --> 00:48:30,500 I'm excited about. It is my lifeline if it never 900 00:48:30,500 --> 00:48:31,940 adds a. Single capability. 901 00:48:31,940 --> 00:48:34,580 It will still be the most important technology innovation 902 00:48:34,580 --> 00:48:37,140 of my lifetime. If you want to introduce any 903 00:48:37,140 --> 00:48:40,340 changes to its software, I'm going to be extremely skeptical 904 00:48:40,340 --> 00:48:43,140 about adopting them. On my note, hashtag. 905 00:48:43,300 --> 00:48:46,660 Me too. Anyways, doubling down on this. 906 00:48:46,700 --> 00:48:48,740 I hope you guys know who Bitstein is. 907 00:48:49,500 --> 00:48:51,700 He's one of the persons that Orange killed me in the 908 00:48:51,700 --> 00:48:53,540 beginning. He had a great podcast in the 909 00:48:53,540 --> 00:48:57,980 past called Noted Bitcoin Podcast with Pierre Rashard. 910 00:48:58,410 --> 00:49:03,410 And he introduced me to the ideas of Austrian economics and 911 00:49:03,410 --> 00:49:07,530 Prax theology and explaining the use of money, how it works or 912 00:49:07,530 --> 00:49:09,410 value me to an exchange unit of account. 913 00:49:09,730 --> 00:49:14,090 And so when Bid Seen chimes in on this conversation, I listen 914 00:49:14,330 --> 00:49:17,050 anyways, just doubling down on this because there's been so 915 00:49:17,050 --> 00:49:19,810 much contention on Twitter lately of like, oh, store of 916 00:49:19,810 --> 00:49:22,930 value, is it a medium exchange? Is there for the unit account? 917 00:49:23,090 --> 00:49:25,490 Is it all happening at once or is it not happening at all? 918 00:49:25,490 --> 00:49:28,290 Do we need to change Bitcoin because we need shit? 919 00:49:28,410 --> 00:49:31,530 Going to adoption of Bitcoin, it's like, bro, Bitcoin is 920 00:49:31,530 --> 00:49:33,770 money. Use it how you want, but you 921 00:49:33,770 --> 00:49:37,050 ain't gonna change my code and my note on my software because 922 00:49:37,050 --> 00:49:41,130 it's doing what I ask it to do, which is store value, transact 923 00:49:41,130 --> 00:49:46,050 across the world in minutes, store value through time and 924 00:49:46,050 --> 00:49:48,200 space. This is what I love it for. 925 00:49:48,200 --> 00:49:50,280 Anyways, jumping into this tweet, I got a couple tweets 926 00:49:50,280 --> 00:49:52,440 from bits in here and he goes practi. 927 00:49:52,440 --> 00:49:56,360 Logically, medium of exchange is defined by the intention of 928 00:49:56,360 --> 00:49:59,720 acquiring a good for future exchange rather than when it is 929 00:49:59,720 --> 00:50:02,200 spent. As such, Bitcoin can already be 930 00:50:02,200 --> 00:50:05,400 understood as a widely demanded medium of exchange, and this 931 00:50:05,400 --> 00:50:08,200 demand can be expected to continue to grow for numerous 932 00:50:08,200 --> 00:50:08,960 reasons. As we. 933 00:50:09,480 --> 00:50:12,200 Constantly on this show. Anyways, got a quote tweet here 934 00:50:12,200 --> 00:50:14,840 and I'm sure it's probably for like Mises or something. 935 00:50:15,040 --> 00:50:17,640 And he goes. A medium of exchange is a good 936 00:50:17,640 --> 00:50:21,040 which people acquire neither for their own consumption nor for 937 00:50:21,040 --> 00:50:23,960 employment in their own production activities, but with 938 00:50:23,960 --> 00:50:27,520 the intention of exchanging it at a later date against those 939 00:50:27,520 --> 00:50:30,680 goods which they want to use either for consumption or for 940 00:50:30,680 --> 00:50:35,080 production anyways. TLDR Hoddling is using spending 941 00:50:35,080 --> 00:50:37,800 is disusing. Actors spend Bitcoin when they 942 00:50:37,800 --> 00:50:39,400 no longer have it used for it because. 943 00:50:39,480 --> 00:50:42,800 As they value a consumer or capital good more, or because 944 00:50:42,800 --> 00:50:45,560 they believe a different currency will be more useful in 945 00:50:45,640 --> 00:50:48,320 future exchange and again doubling down bitch. 946 00:50:48,320 --> 00:50:51,600 Seeing one of my favorite favorite Bitcoin is again, quote 947 00:50:51,600 --> 00:50:55,200 tweeting safety. And it's this idea of as a 948 00:50:55,200 --> 00:50:59,080 Bitcoin price goes up, people are going to use it less because 949 00:50:59,120 --> 00:51:02,320 of its price appreciation. And if the Bitcoin price just 950 00:51:02,320 --> 00:51:05,400 goes up forever and everyone's just hoddling like there will be 951 00:51:05,400 --> 00:51:09,040 no transactions and Bitcoin will fail and they really. 952 00:51:09,560 --> 00:51:12,280 Yeah, they really just don't understand how purchasing power 953 00:51:12,280 --> 00:51:13,880 work. As your purchasing power goes 954 00:51:13,880 --> 00:51:16,800 up, you use it so you can live the life you want. 955 00:51:16,800 --> 00:51:18,440 Anyways, Bitstein double s down and goes. 956 00:51:18,600 --> 00:51:20,680 The higher the price of Bitcoin, the more people are willing to 957 00:51:20,680 --> 00:51:22,800 spend it. If you understand this, it is so 958 00:51:23,080 --> 00:51:24,920 simple. And look, we even got Corey 959 00:51:24,920 --> 00:51:25,400 down. Here goes. 960 00:51:25,400 --> 00:51:27,720 Most people don't spend Bitcoin till they have nothing else to 961 00:51:27,720 --> 00:51:29,360 spend. That's why the medium of 962 00:51:29,360 --> 00:51:32,400 exchange adoption curve lags the store of value adoption curve 963 00:51:32,760 --> 00:51:37,640 guys as you save capital in Bitcoin. 964 00:51:39,060 --> 00:51:42,900 And the number goes up. You start to use your capital, 965 00:51:42,900 --> 00:51:45,820 and you want to use it towards things you want. 966 00:51:46,100 --> 00:51:50,180 As your purchasing power increases, you use your money. 967 00:51:50,490 --> 00:51:53,930 However you see fit, whether that's you being you know, lambo 968 00:51:53,930 --> 00:51:57,370 shit coin around there or it's whether you need to eat or pay 969 00:51:57,370 --> 00:51:59,610 rent as your purchasing power goes up. 970 00:51:59,610 --> 00:52:02,730 As Bitcoin becomes more valuable, the more it will get 971 00:52:02,730 --> 00:52:04,730 used. So do not let people scam you 972 00:52:04,730 --> 00:52:07,690 out of your Bitcoin and tell you that oh hoddling isn't using you 973 00:52:07,690 --> 00:52:10,290 need to spend your Bitcoin today or else there would be no 974 00:52:10,290 --> 00:52:12,290 transactions and no one's going to use Bitcoin. 975 00:52:12,770 --> 00:52:16,250 Bro. Saving is a use case of Bitcoin, 976 00:52:16,250 --> 00:52:20,370 as Bit seen said Hoddling is using, spending is disusing. 977 00:52:21,010 --> 00:52:23,930 Anyways, I just wanted to, you know, add this a little cherry 978 00:52:23,930 --> 00:52:25,490 on top. We got fab the fox here and he 979 00:52:25,490 --> 00:52:28,530 goes, you asked why bitcoins are so toxic because they realize 980 00:52:28,530 --> 00:52:31,010 that Bitcoin is a once in a century chance to break the 981 00:52:31,010 --> 00:52:34,570 chains of an oppressive and slave like monetary system while 982 00:52:34,570 --> 00:52:37,130 you think yield farming sushi rolls is the revolutionary 983 00:52:37,130 --> 00:52:39,930 technology. That's why Anon, we're not the 984 00:52:39,930 --> 00:52:41,730 same. That's why we huddled. 985 00:52:41,730 --> 00:52:44,850 That's why we're bitcoiners because we understand that 986 00:52:44,850 --> 00:52:48,490 Bitcoin is the life raft out there and you need to save, you 987 00:52:48,490 --> 00:52:50,410 need to huddle. You need to have. 988 00:52:50,490 --> 00:52:53,970 Capital so that you can put it to use however you see fit. 989 00:52:54,530 --> 00:52:59,690 So store value is maybe the base, fundamental case of 990 00:52:59,690 --> 00:53:01,290 Bitcoin. You need to store value through 991 00:53:01,290 --> 00:53:03,650 time and space or else no one's gonna wanna use it. 992 00:53:04,090 --> 00:53:06,890 But we already know that hey, you can send big I can send 993 00:53:06,890 --> 00:53:10,170 Bitcoin to Mike right now and we're using it. 994 00:53:10,290 --> 00:53:14,770 I can send it to a stranger across the globe and I'm using 995 00:53:14,770 --> 00:53:15,410 it. But. 996 00:53:15,800 --> 00:53:19,600 You have to store value. So I I hope that this clears up 997 00:53:19,600 --> 00:53:22,920 some of the contention of whether Bitcoin is a store of 998 00:53:22,920 --> 00:53:26,120 value, a medium exchange. It is both guys. 999 00:53:26,120 --> 00:53:29,040 It it is all of it in once. Like it's so simple. 1000 00:53:29,280 --> 00:53:32,880 Yeah need to huddle Bitcoin. It is the best money in the 1001 00:53:32,880 --> 00:53:36,160 world currently that will ever be ever be made. 1002 00:53:36,520 --> 00:53:39,040 And there's no going back to the Fiat currency. 1003 00:53:39,040 --> 00:53:41,840 So get, get, get the Keynesians out of your mind. 1004 00:53:42,180 --> 00:53:44,940 That tell you, you need to, you know, make you the velocity of 1005 00:53:44,940 --> 00:53:46,660 money, go quicker through the economy. 1006 00:53:47,420 --> 00:53:50,620 You need to save something. This is how you can save 1007 00:53:50,620 --> 00:53:53,820 yourself from the madness. You need capital. 1008 00:53:53,820 --> 00:53:55,980 You need to have a savings. Anyways, I've rented enough. 1009 00:53:55,980 --> 00:53:57,140 Mike, what's your thoughts on this? 1010 00:53:57,140 --> 00:53:58,500 I don't know. I don't know if you've ran it 1011 00:53:58,500 --> 00:53:59,820 enough, man. I kind of want to hear it, keep 1012 00:53:59,820 --> 00:54:04,500 going. But like, it's like, you know, 1013 00:54:04,500 --> 00:54:06,860 you know, you guys know my position on like these, like 1014 00:54:06,860 --> 00:54:09,340 these discussions within the community of like, no, it's a 1015 00:54:09,340 --> 00:54:11,760 medium exchange. No, it's a store, like Opie 1016 00:54:11,760 --> 00:54:14,000 said. Like it's stop it. 1017 00:54:14,080 --> 00:54:16,080 It's nonsense. It's both at the same time. 1018 00:54:16,080 --> 00:54:19,400 It's Bitcoin is like multiple different things at the same 1019 00:54:19,400 --> 00:54:21,680 time. That's why that's one of the 1020 00:54:21,680 --> 00:54:24,760 reasons why so many people have such a hard time and grasping 1021 00:54:24,760 --> 00:54:27,600 Bitcoin. Because like the normies and the 1022 00:54:27,600 --> 00:54:30,880 NPC's out there are used to compartmentalizing all these 1023 00:54:30,880 --> 00:54:33,560 different technologies and these avenues and these strategies 1024 00:54:33,560 --> 00:54:36,080 into one specific thing like that. 1025 00:54:36,640 --> 00:54:40,400 The more you get to understand how the world operates, nothing 1026 00:54:40,400 --> 00:54:45,030 is ever, ever just one thing. Everything is interrelated. 1027 00:54:45,030 --> 00:54:48,150 Everything is connected. All space, all points in space 1028 00:54:48,150 --> 00:54:51,030 and time are connected. Yet it's it's never just one 1029 00:54:51,030 --> 00:54:54,630 thing at one time, at one place. It's everything. 1030 00:54:55,190 --> 00:54:57,750 Bitcoin is a store of value. Bitcoin is a medium exchange. 1031 00:54:57,750 --> 00:55:01,310 Bitcoin is a Ave. for monetizing energy. 1032 00:55:01,870 --> 00:55:05,240 Like it's it's just it's just silly to engage in these 1033 00:55:05,240 --> 00:55:09,240 conversations in All in all honesty and then like real quick 1034 00:55:09,240 --> 00:55:11,320 shout out to all you guys. You guys have been fluffing my 1035 00:55:11,320 --> 00:55:16,120 ego in the chat. British Matt Mclovin Like, love 1036 00:55:16,120 --> 00:55:18,160 you guys, but chill a little bit. 1037 00:55:21,740 --> 00:55:25,020 Oh man, yeah. Hey, we that's that's why we 1038 00:55:25,060 --> 00:55:27,980 bring on Mike on the show, man. We we love his takes. 1039 00:55:28,300 --> 00:55:32,140 And I think as as I always say like I'm going to fluff your ego 1040 00:55:32,140 --> 00:55:34,620 a little more as well, I I say it all the time on Twitter 1041 00:55:34,620 --> 00:55:36,020 spaces. I don't know if I say it enough 1042 00:55:36,020 --> 00:55:41,260 on the show, but Mike has a real skill of of having a a sober 1043 00:55:41,260 --> 00:55:44,500 mentality about what's going on, not getting too emotional, not 1044 00:55:44,500 --> 00:55:46,420 getting too caught up in all the noise. 1045 00:55:46,780 --> 00:55:49,380 And it's something that you and I talk about all the time on the 1046 00:55:49,380 --> 00:55:52,350 show. Is or in spaces as well is like 1047 00:55:52,350 --> 00:55:56,230 once you have the Bitcoin fundamentals instilled in your 1048 00:55:56,230 --> 00:56:00,030 brain and you look to the world through the Bitcoin funnel and 1049 00:56:00,030 --> 00:56:03,510 you start to see all the madness and the craziness of the 1050 00:56:03,510 --> 00:56:05,590 traditional financial world, field world, common world, 1051 00:56:05,590 --> 00:56:08,590 whatever you wanna call it. You start to realize like it's 1052 00:56:08,590 --> 00:56:15,110 so simple and it's over complicated on purpose and. 1053 00:56:15,460 --> 00:56:17,140 That's Keynesian economics in a nutshell. 1054 00:56:17,140 --> 00:56:19,060 Guys like, it's so simple. Keep it simple. 1055 00:56:19,060 --> 00:56:22,620 Guys huddle Bitcoin. He operates exactly like. 1056 00:56:23,020 --> 00:56:26,620 It's so simple and and I try to explain this to everyone as much 1057 00:56:26,620 --> 00:56:30,040 as possible as well like. Simplify your life and I I say 1058 00:56:30,040 --> 00:56:31,600 it all the time. You know go outside, touch some 1059 00:56:31,600 --> 00:56:35,640 grass, walk more, move your body more, eat good, hang out with 1060 00:56:35,720 --> 00:56:38,000 good people. You know uplifting people. 1061 00:56:38,200 --> 00:56:41,240 Maintain your relationships. Saving Bitcoin? 1062 00:56:41,240 --> 00:56:43,440 Take that Bitcoin into self custody. 1063 00:56:43,720 --> 00:56:47,160 These outside of Bitcoin like learn other things about the 1064 00:56:47,160 --> 00:56:50,200 nature of reality so that you can tie it back into Bitcoin, 1065 00:56:50,200 --> 00:56:52,400 but then also improve your own personal standing. 1066 00:56:53,520 --> 00:56:56,320 All right, look, we, we, we said this wasn't going to be a 1067 00:56:56,320 --> 00:56:58,240 Bitcoin conversation, Mike, but we kind of. 1068 00:56:58,320 --> 00:57:00,640 Talked about this earlier and I think we've talked about this in 1069 00:57:00,640 --> 00:57:04,680 the past, but the idea of when you look through the world 1070 00:57:04,680 --> 00:57:09,000 through a Bitcoin lens and then you study other topics, you're 1071 00:57:09,000 --> 00:57:11,760 able to connect the dot on the true nature of reality. 1072 00:57:12,000 --> 00:57:15,480 And this is one of the most important things going on with 1073 00:57:15,480 --> 00:57:17,160 all of you guys here. We say it all the time. 1074 00:57:17,280 --> 00:57:20,080 Bitcoin changes you. You don't change Bitcoin once 1075 00:57:20,080 --> 00:57:22,520 you have the Bitcoin the orange lenses on. 1076 00:57:22,850 --> 00:57:25,850 You start to view the world differently and you realize just 1077 00:57:25,850 --> 00:57:28,010 how overly complicated everything is. 1078 00:57:28,010 --> 00:57:31,450 And if you simplify things back to basically like what your 1079 00:57:31,450 --> 00:57:34,850 grandmother used to tell you, like, things become way easier. 1080 00:57:34,850 --> 00:57:38,610 Guys like there is a lot of wisdom in your ancestors and 1081 00:57:38,610 --> 00:57:41,530 it's all going back to the same thing you need to save. 1082 00:57:42,890 --> 00:57:45,850 You need to, you know, not get over your skis. 1083 00:57:45,850 --> 00:57:48,090 As Foss says, you need to audit your behavior. 1084 00:57:48,090 --> 00:57:51,010 Don't spend more than you make, you know, exercise. 1085 00:57:51,010 --> 00:57:53,770 Make sure your mind's clear. Make sure your body's moving. 1086 00:57:54,010 --> 00:57:56,090 Because what? What else are we doing here, 1087 00:57:56,090 --> 00:57:57,370 guys? Yes, money is awesome. 1088 00:57:57,370 --> 00:58:01,300 Yes, Bitcoin is awesome. But uh, you know, as the saying 1089 00:58:01,300 --> 00:58:04,340 goes, and I might have a pun on this one, you know, money 1090 00:58:04,700 --> 00:58:07,580 doesn't buy you happiness. But on that note, I have never 1091 00:58:07,580 --> 00:58:09,660 seen an unhappy person on a jet ski. 1092 00:58:09,820 --> 00:58:12,700 So you need to have some capital guys. 1093 00:58:13,090 --> 00:58:16,170 And don't feel bad about wanting to acquire wealth. 1094 00:58:16,170 --> 00:58:20,490 Don't feel bad about working harder to stack more sets like 1095 00:58:20,490 --> 00:58:23,730 this is what you need to do to get yourself out of the Fiat 1096 00:58:23,730 --> 00:58:26,490 funk that you are in right now, and it's gonna take time. 1097 00:58:26,490 --> 00:58:29,610 Trust the process. You need to huddle Bitcoin and 1098 00:58:29,610 --> 00:58:32,770 and don't let people confuse you. 1099 00:58:33,710 --> 00:58:37,590 Hoddling is using Bitcoin. OK, Hoddling is using Bitcoin. 1100 00:58:37,590 --> 00:58:38,830 What did you say, Mike? Again? 1101 00:58:39,150 --> 00:58:41,550 Bitcoin is hope because of its store value. 1102 00:58:41,590 --> 00:58:45,030 You need to get out of the shithole that you're in right 1103 00:58:45,030 --> 00:58:47,670 now because you have no capital. It's so simple. 1104 00:58:48,070 --> 00:58:50,710 Well, and there's a kind of touching back to the 1105 00:58:50,710 --> 00:58:53,270 conversation we had off Mike before we went live. 1106 00:58:55,430 --> 00:58:57,110 Understanding the nature of reality. 1107 00:58:57,110 --> 00:59:02,800 Like you have to have, you have to have a foundation or a a 1108 00:59:02,840 --> 00:59:06,720 linchpin to base gaining or improving your understanding of 1109 00:59:06,720 --> 00:59:08,520 everything else. It's like one of the most 1110 00:59:08,520 --> 00:59:11,000 basics. One basic ones is just like I am 1111 00:59:11,160 --> 00:59:14,680 right, like I am something. Like I know that I am something 1112 00:59:14,680 --> 00:59:16,240 because I'm conscious and I'm aware. 1113 00:59:17,120 --> 00:59:20,480 And then using the stimuli of the external world to just 1114 00:59:20,560 --> 00:59:25,720 further kind of like improve your owner because like like 1115 00:59:26,040 --> 00:59:28,120 we're going to get really fucking esoteric here real 1116 00:59:28,120 --> 00:59:30,990 quick. But one of the things I like 1117 00:59:30,990 --> 00:59:34,870 talking about with individuals that I'm training or leadership 1118 00:59:34,870 --> 00:59:37,270 or these philosophical, esoteric, religious, like kind 1119 00:59:37,270 --> 00:59:41,630 of conversations is that your body is literally just a 1120 00:59:41,630 --> 00:59:45,270 mechanism for gathering data around your reality. 1121 00:59:45,830 --> 00:59:50,510 Like pain, anxiety, depression, sadness, elation, ecstasy. 1122 00:59:50,510 --> 00:59:54,350 Like, it's all just information relating to where you stand 1123 00:59:54,870 --> 00:59:59,100 today, right now. And that's in in Bitcoin 1124 00:59:59,100 --> 01:00:02,900 provides that in a very interesting relation because it 1125 01:00:02,900 --> 01:00:06,100 is free of human manipulation, right? 1126 01:00:06,100 --> 01:00:10,660 So you can basically use Bitcoin and pull it into yourself to 1127 01:00:10,660 --> 01:00:14,460 improve your understanding of, like the societal, financial and 1128 01:00:14,460 --> 01:00:18,380 economic machinations of the rest of the world externally to 1129 01:00:18,380 --> 01:00:22,740 you, right. So because like I wrote a, I 1130 01:00:22,780 --> 01:00:25,140 wrote an article a while back called. 1131 01:00:26,380 --> 01:00:29,340 I think I titled it. A wild economic constant 1132 01:00:29,340 --> 01:00:33,220 appeared and I used a picture of from those of you that are 1133 01:00:33,220 --> 01:00:37,580 millennials, the old Game Boy Color Pokémon game where you 1134 01:00:37,580 --> 01:00:39,180 know, a random Pokémon just pops up. 1135 01:00:39,180 --> 01:00:40,580 It's like a wild whatever appears. 1136 01:00:41,860 --> 01:00:45,980 The one of these really valuable aspects of Bitcoin is that it 1137 01:00:45,980 --> 01:00:50,100 is, it is an economic constant because it's not a Fiat currency 1138 01:00:50,340 --> 01:00:53,220 and it's not gold which we can manipulate like just like 1139 01:00:53,220 --> 01:00:55,150 diamonds. It is something that's 1140 01:00:55,150 --> 01:01:01,190 completely free of these human fallacies and fallibilities to 1141 01:01:01,190 --> 01:01:05,190 the point of where you can judge everything against it because it 1142 01:01:05,190 --> 01:01:09,390 is effectively the economic measuring stick or the economic 1143 01:01:09,750 --> 01:01:13,270 for everything else. And then you can improve like 1144 01:01:13,390 --> 01:01:16,470 through that you improve your understanding of where you stand 1145 01:01:16,470 --> 01:01:19,870 as far as like building your wealth, what you can purchase, 1146 01:01:20,190 --> 01:01:22,270 what is possible into the future. 1147 01:01:22,270 --> 01:01:25,440 Because like I don't know how many of you started out being 1148 01:01:25,800 --> 01:01:29,080 poor. But when you're poor and you, 1149 01:01:29,920 --> 01:01:34,680 you, yeah, right. Like when you're poor and you 1150 01:01:35,000 --> 01:01:40,080 are trying to get ahead but you can't store your value in the 1151 01:01:40,080 --> 01:01:45,000 currency with which your economy or your nation transaction, like 1152 01:01:45,000 --> 01:01:47,280 then you have to try and find something else that you can put 1153 01:01:47,280 --> 01:01:49,580 it there, right. That's what Central America, 1154 01:01:49,580 --> 01:01:53,100 South America, Lebanon, Turkey, like all these different part 1155 01:01:53,100 --> 01:01:55,820 like Nigeria, all these different participants that are 1156 01:01:55,820 --> 01:01:59,420 downstream of the Fiat printer, that's what that's why they're 1157 01:01:59,420 --> 01:02:01,500 turning to Bitcoin is because it's something that you can 1158 01:02:01,500 --> 01:02:07,660 actually judge the economic activity of your life against 1159 01:02:08,260 --> 01:02:12,660 and it just continues to go up and to the right like it while 1160 01:02:12,660 --> 01:02:14,740 they're printing to add nauseam around you. 1161 01:02:15,060 --> 01:02:18,230 That's the value and that's, and that's not even talking about 1162 01:02:18,230 --> 01:02:20,310 the whole Bitcoin mining and energy relationship, which is 1163 01:02:20,710 --> 01:02:22,830 I've got a ramp for spaces after this. 1164 01:02:24,110 --> 01:02:26,790 Let's go and and just to like put a bow tie on this. 1165 01:02:28,030 --> 01:02:32,140 I've had this. I don't know it's a meme or it's 1166 01:02:32,140 --> 01:02:35,700 it's an idea that I that I basically base my life off of. 1167 01:02:35,700 --> 01:02:39,660 I've told you guys before I I did do philosophy in college and 1168 01:02:39,940 --> 01:02:41,460 I was joking with Mike before that. 1169 01:02:41,460 --> 01:02:44,500 Like I I went to philosophy thinking it would answer the 1170 01:02:44,500 --> 01:02:48,300 true nature of reality only to have more questions afterwards. 1171 01:02:48,580 --> 01:02:51,100 But one of the things about Bitcoin that I find the most 1172 01:02:51,100 --> 01:02:55,180 interesting is that, you know, Keynesian economics, traditional 1173 01:02:55,180 --> 01:02:58,380 financial world is literally the, you know, Coyote running 1174 01:02:58,380 --> 01:03:00,740 off the Cliff with the Road Runner and. 1175 01:03:00,940 --> 01:03:04,060 Them, like the Bitcoin moment is us looking down at our feet and 1176 01:03:04,060 --> 01:03:09,620 realizing we are off the Cliff. And one of my fundamental like 1177 01:03:09,620 --> 01:03:14,500 axioms of life is is if if you align yourself with nature then 1178 01:03:14,500 --> 01:03:17,380 you will start to be prosperous and successful. 1179 01:03:17,660 --> 01:03:20,620 And one of the biggest things that I see around, and I used to 1180 01:03:20,620 --> 01:03:25,100 do it as well, is playing the ego games of, you know, like. 1181 01:03:26,450 --> 01:03:30,170 Not basing though your your life off your results and being like 1182 01:03:30,210 --> 01:03:32,850 Oh no, like you're wrong. This is wrong. 1183 01:03:32,850 --> 01:03:35,890 You know, I know exactly how this is working and you're not 1184 01:03:35,890 --> 01:03:38,010 getting the results you want, and then I. 1185 01:03:38,100 --> 01:03:41,020 I found Bitcoin, I found the Bitcoin fundamentals, and I 1186 01:03:41,020 --> 01:03:43,100 started to view the world through the Bitcoin lens and 1187 01:03:43,100 --> 01:03:46,700 it's like, oh wow, my life has gotten better on all metrics. 1188 01:03:46,700 --> 01:03:49,660 I am happier. I'm fitter, I have my finances 1189 01:03:49,660 --> 01:03:53,380 in order, and it's all because I have aligned myself with a 1190 01:03:53,380 --> 01:03:57,020 philosophy that translates to reality. 1191 01:03:57,260 --> 01:04:00,580 And I I feel like more people need to have. 1192 01:04:01,010 --> 01:04:04,010 I don't know if coming to God moment is the right, the right, 1193 01:04:04,490 --> 01:04:08,610 you know, metaphor here, but you need to audit your thinking and 1194 01:04:08,610 --> 01:04:11,850 your world views. And again, it's doing a classic 1195 01:04:11,850 --> 01:04:14,010 Bitcoiner moment. You know the Big Short, what's 1196 01:04:14,010 --> 01:04:15,810 the first quote? First scene? 1197 01:04:15,810 --> 01:04:19,410 It's the Mark Twain. What hurts you isn't what you 1198 01:04:19,410 --> 01:04:21,810 think you know. It isn't what you know. 1199 01:04:21,810 --> 01:04:23,810 It's what you think you know but really isn't. 1200 01:04:24,050 --> 01:04:27,010 And I see this happening with so many people. 1201 01:04:27,250 --> 01:04:29,510 They think. You know, it's you that's wrong 1202 01:04:29,510 --> 01:04:31,830 versus, you know, being honest with yourself and being like, 1203 01:04:31,830 --> 01:04:34,910 oh, maybe I don't understand how the world works. 1204 01:04:35,190 --> 01:04:38,990 And once you get on the Bitcoin standard and and you unlearn 1205 01:04:38,990 --> 01:04:44,190 everything, you realize like, oh, OK, it was my thinking that 1206 01:04:44,190 --> 01:04:46,390 was messed up and that's why I wasn't getting the results. 1207 01:04:46,390 --> 01:04:48,990 And now that I have clear thinking I'm getting the results 1208 01:04:48,990 --> 01:04:50,670 I want. It doesn't happen overnight, but 1209 01:04:50,670 --> 01:04:53,590 it does happen. Guys just like press the process 1210 01:04:53,950 --> 01:04:58,850 on that on that note like it's understanding why you think what 1211 01:04:58,850 --> 01:05:01,770 you think or understanding why you believe what you believe. 1212 01:05:01,770 --> 01:05:03,410 Because you like. You go back and talk to some of 1213 01:05:03,410 --> 01:05:08,250 these quote UN quote economists and accountants that are like 1214 01:05:08,250 --> 01:05:10,850 all about like, you know the US dollar and the Fiat currency 1215 01:05:10,850 --> 01:05:15,170 system. You go back and ask them why 1216 01:05:15,170 --> 01:05:17,970 they they believe in the system and why they think like the 1217 01:05:17,970 --> 01:05:19,610 petrodollar works and all this other stuff. 1218 01:05:19,650 --> 01:05:22,690 Like they don't know. They they don't they don't even 1219 01:05:22,690 --> 01:05:28,000 understand the theology that they believe in like that that 1220 01:05:28,000 --> 01:05:34,240 should scare everybody because like because like then once once 1221 01:05:34,240 --> 01:05:37,680 these because like a lot of you guys that are watching now, like 1222 01:05:38,000 --> 01:05:40,160 like we all came from the Fiat system. 1223 01:05:40,720 --> 01:05:44,320 Like we were all born into it and then you come around and 1224 01:05:44,320 --> 01:05:48,160 like when more because like it's going to wash across the rest of 1225 01:05:48,160 --> 01:05:49,360 the world. It already is. 1226 01:05:49,440 --> 01:05:51,080 It's going to wash across the rest of the world, but 1227 01:05:51,080 --> 01:05:55,010 particularly the the developed world of like has more people 1228 01:05:55,010 --> 01:05:57,090 because like, I don't know if you guys saw it, I tweeted it 1229 01:05:57,090 --> 01:06:00,450 out, but Bill Burr is now going down the rabbit hole of Fiat 1230 01:06:00,450 --> 01:06:02,090 currencies. I saw that. 1231 01:06:02,210 --> 01:06:03,890 I didn't see the video, but I saw the tweets. 1232 01:06:04,130 --> 01:06:06,810 Like the more that, like these personalities and like these 1233 01:06:06,810 --> 01:06:09,810 really public figures start to look into it, They're like, 1234 01:06:10,090 --> 01:06:15,370 dude, this money's bullshit. Like it doesn't actually hold 1235 01:06:15,370 --> 01:06:19,730 any value or anything. It's going to, it's going to 1236 01:06:19,730 --> 01:06:23,820 start rocking some worlds. And that's where, like, I think 1237 01:06:24,180 --> 01:06:26,220 when it comes to the conversation around whether 1238 01:06:26,220 --> 01:06:29,660 we're early in Bitcoin, that's that's not even a question. 1239 01:06:30,020 --> 01:06:33,220 But it's gonna be, it's gonna be weird, guys. 1240 01:06:33,220 --> 01:06:37,980 It's gonna be really weird. We're so early, so don't stop 1241 01:06:38,180 --> 01:06:42,140 believing. All right, guys, let's get to 1242 01:06:42,140 --> 01:06:47,260 the memes. The Daily Meme Review. 1243 01:06:48,480 --> 01:06:50,880 Brought to you by Kaboom Racks. I get this question all the 1244 01:06:50,880 --> 01:06:53,120 time. Nico, where should I buy Bitcoin 1245 01:06:53,120 --> 01:06:55,000 miners? The answer is Kaboom racks. 1246 01:06:55,000 --> 01:06:57,520 It's the best place to buy Bitcoin miners. 1247 01:06:57,680 --> 01:07:00,000 That's where you're gonna find the best deals and the best 1248 01:07:00,000 --> 01:07:03,160 prices. Start your mining utopia today. 1249 01:07:03,160 --> 01:07:06,520 To check out their racks, you got to go to T dot me slash 1250 01:07:06,520 --> 01:07:09,160 kaboom racks. Join their Telegram group and 1251 01:07:09,160 --> 01:07:11,840 start your mining journey today. Kaboom racks. 1252 01:07:12,520 --> 01:07:18,000 Kaboom racks. Wow, Mike, you know, I I told 1253 01:07:18,000 --> 01:07:21,120 you earlier that we probably wouldn't get philosophical. 1254 01:07:21,120 --> 01:07:23,640 It's only fitting that we did get a little philosophical for a 1255 01:07:23,640 --> 01:07:25,800 little unavoidable for the unavoidable for us. 1256 01:07:25,800 --> 01:07:28,320 Anyways, Guys, you already know this is the main review where 1257 01:07:28,320 --> 01:07:32,480 you guys send us memes on Twitter, our Twitter account, 1258 01:07:32,480 --> 01:07:35,360 Simply Bitcoin TV. I usually tell you just to tag 1259 01:07:35,360 --> 01:07:37,480 that one, but it's been getting pretty busy. 1260 01:07:37,480 --> 01:07:40,000 So if you have a meme that you really want to make on the show, 1261 01:07:40,000 --> 01:07:42,080 maybe tag my personal account optimist fields. 1262 01:07:42,470 --> 01:07:45,470 Because that I I looked at our notifications yesterday. 1263 01:07:45,470 --> 01:07:48,150 It was it was like I probably lost some stuff in there. 1264 01:07:48,150 --> 01:07:52,070 Anyways, you can also drop memes in our telegram group T dot me 1265 01:07:52,070 --> 01:07:55,480 slash simply Bitcoin. And I I pretty much look in 1266 01:07:55,480 --> 01:07:57,840 there every morning as well, try to get some memes, but you guys 1267 01:07:57,840 --> 01:07:59,640 just be stealing memes and dropping them in there. 1268 01:07:59,640 --> 01:08:02,280 I want the tweets guys. I need to give people credit. 1269 01:08:02,480 --> 01:08:05,520 OK? Anyways, 1st meme is by our boy 1270 01:08:05,520 --> 01:08:10,000 Rd. under score BTC and he goes when you read every Bitcoin book 1271 01:08:10,000 --> 01:08:13,360 that's ever been written and we have Neil, de Grasse, Tyson and 1272 01:08:13,400 --> 01:08:16,040 uh I don't know what, I don't know what you call this what's 1273 01:08:16,040 --> 01:08:17,200 the what's? That's it. 1274 01:08:17,200 --> 01:08:20,720 When you go and hyperdrive, he's in hyperdrive and he goes, we 1275 01:08:20,720 --> 01:08:24,040 are hitting intelligence levels that shouldn't even be possible. 1276 01:08:24,200 --> 01:08:26,600 This what happens when you read like the Bitcoin standard 1277 01:08:26,600 --> 01:08:28,800 principles, economics. You know, all the stuff on 1278 01:08:29,160 --> 01:08:31,720 Nakamoto Institute, everything you've ever read on Bitcoin. 1279 01:08:32,000 --> 01:08:35,279 You just go full Galaxy brain and your mind explodes and then 1280 01:08:35,279 --> 01:08:37,720 you come back to reality at a certain point and you're like, 1281 01:08:37,720 --> 01:08:40,960 oh shit, where was that? You're in the Bitcoin standard. 1282 01:08:40,960 --> 01:08:43,160 Anyways, this next meme is by Sonny Ray. 1283 01:08:43,160 --> 01:08:47,600 Com. And it's a play on the Matrix 1284 01:08:47,600 --> 01:08:52,200 meme where Neo and Morpheus do their face off and they're 1285 01:08:52,200 --> 01:08:55,680 fighting for the first time doing the karate in the Dojo. 1286 01:08:55,960 --> 01:08:59,120 And we got a Bitcoin logo here and we have a bucale with the El 1287 01:08:59,120 --> 01:09:01,720 Salvador flag on one side, and we have melee with the Argentina 1288 01:09:01,720 --> 01:09:04,399 flag on the other side and the Bitcoin logo in the middle and 1289 01:09:04,399 --> 01:09:07,680 it goes, Bitcoin is just getting started. 1290 01:09:07,760 --> 01:09:11,500 Yes, guys, it is just. All the fun, the fireworks are 1291 01:09:11,500 --> 01:09:14,220 about to happen. I'm convinced this next what 1292 01:09:14,740 --> 01:09:16,300 next? Having it's gonna be lit. 1293 01:09:16,500 --> 01:09:17,660 After the having is gonna be lit. 1294 01:09:17,859 --> 01:09:20,899 Anyways, the next meme is by Satoshi Hoddle and he just goes 1295 01:09:20,899 --> 01:09:23,460 Hashtag Bitcoin and of course you know me. 1296 01:09:24,210 --> 01:09:26,930 Has the reigning left side of the bell curve bitcoiner on the 1297 01:09:26,930 --> 01:09:28,770 show. I love bringing on the bell 1298 01:09:28,770 --> 01:09:32,050 curve memes on the show and we got a left side of the bell 1299 01:09:32,050 --> 01:09:35,529 curve memer which is basically me and he goes I have no idea 1300 01:09:35,529 --> 01:09:38,850 what the Bitcoin price is. And then we have the right side 1301 01:09:38,850 --> 01:09:41,729 of the bell curve which is probably more on Mike's side and 1302 01:09:41,970 --> 01:09:44,810 he's in the robe with the laser eyes and he goes, I have no idea 1303 01:09:44,810 --> 01:09:47,770 what the Bitcoin price is. And then all the midwits and the 1304 01:09:47,770 --> 01:09:50,050 new bitcoiners, the pre coiners and the. 1305 01:09:50,529 --> 01:09:52,130 The baby coiners out there Go bro. 1306 01:09:52,130 --> 01:09:53,770 You haven't even checked the price today. 1307 01:09:53,770 --> 01:09:55,610 How's that possible bro? What? 1308 01:09:55,970 --> 01:09:58,650 Find bitcoins. And I I I know you guys troll me 1309 01:09:58,650 --> 01:10:00,650 every day. Like Opti says he never looks at 1310 01:10:00,650 --> 01:10:02,810 the Bitcoin price, but he gives us the Bitcoin price every 1311 01:10:02,810 --> 01:10:05,170 single day. Yes, this is for you guys. 1312 01:10:05,170 --> 01:10:06,890 I don't look at the Bitcoin price. 1313 01:10:07,130 --> 01:10:10,130 You know, I only realize the Bitcoin price is either going up 1314 01:10:10,130 --> 01:10:13,490 or down by all you guys freaking out on Twitter and me giving you 1315 01:10:13,490 --> 01:10:16,450 the Bitcoin price as a historical timestamp for the 1316 01:10:16,450 --> 01:10:17,690 show. Anyways. 1317 01:10:18,410 --> 01:10:21,770 Next meme is by Bitcoin under score Aider and he goes, what is 1318 01:10:21,810 --> 01:10:26,170 hashtag Bitcoin? And yeah, this one's uh, I don't 1319 01:10:26,170 --> 01:10:30,010 really know how to explain it. It's like a Bitcoin, a Trifecta 1320 01:10:30,010 --> 01:10:33,450 Infinity sign here. And on the left side we have 1321 01:10:33,450 --> 01:10:35,970 time, in the middle we have money, which is the Bitcoin 1322 01:10:35,970 --> 01:10:38,370 logo, and on the right side we have energy. 1323 01:10:38,610 --> 01:10:43,010 And then it's it's this Trifecta Infinity where it's all looped 1324 01:10:43,530 --> 01:10:46,810 and connected like a triangular Mobius strip. 1325 01:10:47,810 --> 01:10:49,730 Exactly. I don't even know what a Mobius 1326 01:10:49,730 --> 01:10:52,610 strip is, but Bitcoin is time, money and energy. 1327 01:10:52,610 --> 01:10:57,730 It is all interconnected and right up Mike's Ave. 1328 01:10:57,770 --> 01:10:59,450 Anyways, next one is by Walker America. 1329 01:10:59,880 --> 01:11:02,120 And I I just really like the picture here. 1330 01:11:02,120 --> 01:11:04,880 You know, it's got Marilyn Monroe black and white on an 1331 01:11:04,880 --> 01:11:07,200 orange backdrop and says, what are you waiting for? 1332 01:11:07,200 --> 01:11:10,360 Study Bitcoin. But the tweet is pretty solid as 1333 01:11:10,360 --> 01:11:12,360 well. And he goes 2013 you didn't know 1334 01:11:12,360 --> 01:11:16,040 about Bitcoin at $25 2015 You didn't care about Bitcoin at 1335 01:11:16,040 --> 01:11:22,440 $250, 2017 You didn't understand Bitcoin at $2500, 2020, 30. 1336 01:11:22,860 --> 01:11:27,180 You didn't believe in Bitcoin at $25,000 2020 Seven You almost 1337 01:11:27,180 --> 01:11:32,220 bought Bitcoin at $250,000 Twenty 31 you bought Bitcoin at 1338 01:11:32,220 --> 01:11:34,940 2.5 million. Take Toth next block. 1339 01:11:34,940 --> 01:11:36,700 What are you waiting for? Study Bitcoin. 1340 01:11:36,700 --> 01:11:38,940 Get some exposure today. This is the way time in the 1341 01:11:38,940 --> 01:11:40,260 market. Beats timing the market. 1342 01:11:41,340 --> 01:11:43,060 Just you. You might want to get some just 1343 01:11:43,060 --> 01:11:45,060 in case it's catching on. Because it is catching on. 1344 01:11:45,060 --> 01:11:47,820 OK. This next one is by I Win 1345 01:11:47,860 --> 01:11:49,940 Ribenstein. Chassat to Ribenstein. 1346 01:11:50,700 --> 01:11:53,820 And it's the classic, I don't even know what movie it is but 1347 01:11:53,820 --> 01:11:55,580 this is what's your name is Emma Roberts. 1348 01:11:55,580 --> 01:11:58,020 You know she does the O face and the girls like whispering in her 1349 01:11:58,020 --> 01:12:01,100 ear and he just goes hashtag 80 IQ. 1350 01:12:01,340 --> 01:12:04,180 And so the girls whispering in Emma Roberts ear and he goes, he 1351 01:12:04,180 --> 01:12:07,740 huddled 6.15 million sats and got 80 IQ. 1352 01:12:08,780 --> 01:12:11,900 This is the way. It's not even 6.15 Bitcoin just 1353 01:12:11,900 --> 01:12:15,380 6.15 million sats. Let's go, this is the way. 1354 01:12:15,580 --> 01:12:19,060 And then of course today, guys, two years ago today. 1355 01:12:19,610 --> 01:12:22,890 Bitcoin became official legal tender in El Salvador, almost 1356 01:12:23,010 --> 01:12:25,410 like a Bitcoin holiday. But I really like this meme here 1357 01:12:25,410 --> 01:12:27,690 from Lena Sisha and she goes forever, a big day, happy 1358 01:12:27,690 --> 01:12:31,970 Bitcoin day with a heart emoji. And we have the Bitcoin logo 1359 01:12:31,970 --> 01:12:34,930 celebrating. It's dancing under all. 1360 01:12:35,130 --> 01:12:38,890 And it has, you know, an El Salvador colored birthday hat. 1361 01:12:39,250 --> 01:12:41,730 And then we have all the Bitcoin hoddlers over here and they go 1362 01:12:41,730 --> 01:12:43,130 like, what? What is he celebrating? 1363 01:12:43,130 --> 01:12:45,730 Like why is the Bitcoin logo so happy? 1364 01:12:45,930 --> 01:12:47,970 He's dancing, you know, and doing this thing. 1365 01:12:47,970 --> 01:12:49,530 And the other one goes it's legal tender. 1366 01:12:49,650 --> 01:12:51,330 Day and then you can see the date. 1367 01:12:51,330 --> 01:12:54,050 Here it goes, 2040. It's like, but he's legal tender 1368 01:12:54,050 --> 01:12:55,930 everywhere. When will he stop making such a 1369 01:12:55,930 --> 01:12:57,730 big deal out of being legal tender? 1370 01:12:57,730 --> 01:13:00,290 The first time And the Bitcoin Lego goes? 1371 01:13:00,570 --> 01:13:04,130 Never. Because ever beyond the map that 1372 01:13:04,130 --> 01:13:06,850 El Salvador was the first country to make Bitcoin legal 1373 01:13:06,850 --> 01:13:10,530 tender. Happy Bitcoin Day, as they say. 1374 01:13:12,370 --> 01:13:14,090 The world would never be the same, apparently. 1375 01:13:14,130 --> 01:13:16,410 Anyways, drop your meme review score in the chat over here on 1376 01:13:16,410 --> 01:13:21,010 the other side of me. And we will cover them live and 1377 01:13:21,010 --> 01:13:25,130 I will cover mine again. I am doubling down on my boy no 1378 01:13:25,130 --> 01:13:30,170 BTC waist signs on Twitter. And I have the the BTC pins, 1379 01:13:30,810 --> 01:13:34,370 Bitcoin bead logo, orange pill right here. 1380 01:13:34,370 --> 01:13:36,250 It's made. I'm pretty sure it's acrylic. 1381 01:13:37,970 --> 01:13:40,810 Go hit them up If you need some Bitcoin signs he will make them 1382 01:13:40,810 --> 01:13:43,090 for you. OK, what is your meme review 1383 01:13:43,090 --> 01:13:47,150 score, Mike? Since I'm wearing a meme score 1384 01:13:47,150 --> 01:13:49,990 that I gave a couple I think last week I think it was. 1385 01:13:50,470 --> 01:13:53,550 So I chimed in and said that the Simply Bitcoin shirt that I got 1386 01:13:53,550 --> 01:13:59,950 at BBB was my mean score. I'm going to use my TLR One 1387 01:13:59,950 --> 01:14:05,110 Streamlight Tack Light. With no battery in it. 1388 01:14:05,590 --> 01:14:08,430 With no working battery. Hey you didn't need to tell them 1389 01:14:09,790 --> 01:14:11,870 it's in the mail guys. It's in the mail. 1390 01:14:11,870 --> 01:14:16,780 Just for just for background, I found out that my bag that I was 1391 01:14:16,780 --> 01:14:19,620 keeping it in it had flicked the light and so the light was on 1392 01:14:19,620 --> 01:14:22,220 for too long and now I had to order batteries. 1393 01:14:22,220 --> 01:14:25,180 So if you don't want to fall to the Fiat machine, manage your 1394 01:14:25,180 --> 01:14:28,220 equipment properly. Not like I did because the 1395 01:14:28,220 --> 01:14:31,740 Streamlight batteries are like $20 per pack and that was 1396 01:14:31,740 --> 01:14:33,380 painful. Switch it off. 1397 01:14:33,500 --> 01:14:37,140 TLDR switch it off. Anyways, I see some meme review 1398 01:14:37,140 --> 01:14:40,100 scores in the chat, but before I go, he mentioned the simply 1399 01:14:40,100 --> 01:14:42,660 Bitcoin merch hit the QR code. Right. 1400 01:14:42,900 --> 01:14:44,460 Wait, right. Wait. 1401 01:14:45,130 --> 01:14:48,610 Right there, right there. And get yourself some simply 1402 01:14:48,610 --> 01:14:50,850 Bitcoin theme merch. Right now we have some T-shirts, 1403 01:14:50,930 --> 01:14:53,330 we have them orange hoodies, which is becoming my favorite 1404 01:14:53,330 --> 01:14:55,690 hoodie and you know, support the boys. 1405 01:14:55,690 --> 01:14:59,050 We will be getting you guys some new merch soon. 1406 01:14:59,210 --> 01:15:01,410 We've been telling you, I know you guys have been hitting me up 1407 01:15:01,410 --> 01:15:03,250 about hats. I will get the hats printed 1408 01:15:03,250 --> 01:15:06,890 again for you guys and we are in the process of talking. 1409 01:15:07,310 --> 01:15:11,270 With some Bitcoin artists to get some limited edition simply 1410 01:15:11,270 --> 01:15:14,550 Bitcoin collapse. We don't know what they're gonna 1411 01:15:14,550 --> 01:15:17,030 be yet, but we will figure some cool stuff out for you guys. 1412 01:15:17,510 --> 01:15:19,270 Matt, you chill, chill in the chat. 1413 01:15:19,270 --> 01:15:22,190 I'm working on getting some Bitcoin veterans merch set up. 1414 01:15:22,190 --> 01:15:24,310 So. Those of you there, those of you 1415 01:15:24,310 --> 01:15:27,800 that are also listening, will like that'll be happening. 1416 01:15:27,800 --> 01:15:31,080 I haven't got my own yet because I want to get this figured out 1417 01:15:31,080 --> 01:15:32,880 first. Welcome to Getting badgered 1418 01:15:32,880 --> 01:15:37,440 about the merch, bro. This is part of the fun OK 1st 1419 01:15:37,480 --> 01:15:42,960 Meme Score Meme Review score is by Narwhal Tacos and he goes 1420 01:15:43,240 --> 01:15:46,280 Meme Score None. I consider all those memes to be 1421 01:15:46,280 --> 01:15:52,640 Perry Pursue. OK, let's see UTXO. 1422 01:15:52,640 --> 01:15:55,880 My meme review score is a cross cap. 1423 01:15:56,420 --> 01:15:57,100 I don't know. What. 1424 01:15:57,180 --> 01:16:00,700 I don't know what that is. Opties Mile High Club. 1425 01:16:00,700 --> 01:16:02,060 I'm not going to read your score, bro. 1426 01:16:02,100 --> 01:16:04,300 Sorry. Do another one before I finish. 1427 01:16:04,540 --> 01:16:08,780 OK, next meme review score is by Canada. 1428 01:16:09,260 --> 01:16:10,740 Canada. Yeah, Canada. 1429 01:16:11,090 --> 01:16:14,770 I believe meme score a Mexican billionaire crying. 1430 01:16:14,770 --> 01:16:18,690 Yes, this is the way. OK, next meme review scores by 1431 01:16:18,730 --> 01:16:22,410 Eagle and he goes, I give those memes all the use cases and a 1432 01:16:23,090 --> 01:16:27,730 .001 of a jet ski. Yes, jet skis are fungible and 1433 01:16:27,770 --> 01:16:30,010 and visible. Oh wait no Kim. 1434 01:16:30,010 --> 01:16:33,170 Sorry dude, no, I can't put this on the show. 1435 01:16:33,610 --> 01:16:36,930 I can't put this on the show. OK, BTC is true. 1436 01:16:36,970 --> 01:16:39,410 Meme score in action is in action. 1437 01:16:39,770 --> 01:16:45,770 Let's go. OK, let's see if I it wasn't 1438 01:16:45,770 --> 01:16:48,170 that you ran out of scores. It's at the buzzer game. 1439 01:16:48,530 --> 01:16:52,690 OK guys. Anyways, Mike, thanks for coming 1440 01:16:52,690 --> 01:16:56,110 on today. We, I think we did some some 1441 01:16:56,230 --> 01:16:58,350 very good rants on today's show. But what are you working on? 1442 01:16:58,350 --> 01:17:00,070 Where you at? What's what's your latest 1443 01:17:00,070 --> 01:17:03,150 project? Oh wait, actually, I gotta do 1444 01:17:03,150 --> 01:17:05,790 this. Score Mean Score 4 Logos The the 1445 01:17:05,790 --> 01:17:10,630 original formula for four logos. Oh man, you did gents. 1446 01:17:10,670 --> 01:17:15,710 Blackout in a tall boy for $5. Oh, man. 1447 01:17:15,710 --> 01:17:17,550 All right, Mike, what are you working on? 1448 01:17:17,550 --> 01:17:19,830 What do you want to direct the people towards? 1449 01:17:20,630 --> 01:17:22,590 We'll bring you back on soon. Appreciate it. 1450 01:17:22,790 --> 01:17:26,310 As you guys know, I have a DD out the ass, so I've been 1451 01:17:26,310 --> 01:17:29,990 working on actually putting together one or two books. 1452 01:17:30,990 --> 01:17:35,150 I've been working with a couple Bitcoin groups, working on 1453 01:17:35,150 --> 01:17:38,230 pushing the signal into some federal agencies. 1454 01:17:40,070 --> 01:17:43,690 I'm helping a friend. Well, I'm not even helping a 1455 01:17:43,690 --> 01:17:47,330 friend, but I know a friend is writing an article that I think 1456 01:17:47,330 --> 01:17:49,370 a lot of you guys will be very interested in. 1457 01:17:51,490 --> 01:17:54,450 I don't know how that will be published, but when it gets out 1458 01:17:54,450 --> 01:17:57,690 I will definitely circulate it to all of you because you guys 1459 01:17:57,690 --> 01:17:59,970 will definitely like what's going to be said there. 1460 01:18:02,370 --> 01:18:05,130 Obviously writing for my own stuff, but like as you guys have 1461 01:18:05,130 --> 01:18:08,570 maybe have noticed if you're subscribed to simply which you 1462 01:18:08,570 --> 01:18:10,690 should be and if you're subscribed to my sub stack. 1463 01:18:10,730 --> 01:18:14,590 I have not had a presence in these avenues lately because I 1464 01:18:14,590 --> 01:18:18,070 am doing so much on the external and behind the scenes. 1465 01:18:19,030 --> 01:18:21,510 And then obviously like I mentioned like you probably guys 1466 01:18:21,510 --> 01:18:24,990 probably mentioned are picked up when I mentioned it to Matt. 1467 01:18:25,590 --> 01:18:28,230 We're working on getting merch set up for Bitcoin veterans 1468 01:18:28,870 --> 01:18:31,870 which will take a little bit because you have to have a bank 1469 01:18:31,870 --> 01:18:33,950 account believe it or not in order to have a business. 1470 01:18:35,790 --> 01:18:39,910 And then also working on potentially providing some 1471 01:18:40,230 --> 01:18:43,510 security help and services for Bitcoin conferences going 1472 01:18:43,510 --> 01:18:45,790 forward through the Bitcoin Veterans group. 1473 01:18:46,670 --> 01:18:48,790 So if you're a bit, if you are a veteran and you're in the 1474 01:18:48,790 --> 01:18:50,910 Bitcoin space and you're listening and you're not part of 1475 01:18:50,910 --> 01:18:54,870 our group chat, reach out to either me or the Bitcoin 1476 01:18:54,870 --> 01:18:57,990 veterans handle like send us a DM that you want to be a part of 1477 01:18:57,990 --> 01:19:00,590 it and we'll we'll get you into the to the group chat for sure. 1478 01:19:01,840 --> 01:19:03,960 Let's go. Well, awesome, bro. 1479 01:19:04,440 --> 01:19:06,800 Thanks for coming on. Pop in the spaces and we'll 1480 01:19:06,800 --> 01:19:10,840 continue this conversation and get your unfiltered rants over 1481 01:19:10,840 --> 01:19:13,360 there. Anyways, guys, appreciate you. 1482 01:19:14,040 --> 01:19:16,520 We will be back with our normal program tomorrow. 1483 01:19:16,640 --> 01:19:20,150 It is Friday. But on that note, rest of the 1484 01:19:20,150 --> 01:19:22,390 day guys, you know like share, subscribe. 1485 01:19:22,390 --> 01:19:25,110 We appreciate all the support, but spread all the Bitcoin 1486 01:19:25,110 --> 01:19:27,590 signal. Our duty is to try to wake up as 1487 01:19:27,590 --> 01:19:30,670 many people as possible, get as many Sats as possible in 1488 01:19:30,670 --> 01:19:33,350 people's hands, getting people downloading wallets, That's all 1489 01:19:33,350 --> 01:19:36,590 that really matters. And on that note guys, we will 1490 01:19:36,590 --> 01:19:39,750 see you in Twitter spaces. Peace out guys. 1491 01:19:52,180 --> 01:19:53,780 What's up? OK, all right. 1492 01:19:53,780 --> 01:19:57,140 It's a little clunkier when I'm doing all the production, but 1493 01:19:57,140 --> 01:19:59,980 here we are, guys, we are back in Twitter Spaces. 1494 01:19:59,980 --> 01:20:03,580 So one second, let me make sure these streams are caught up and 1495 01:20:03,580 --> 01:20:08,220 they're done, and then we will continue this combo. 1496 01:20:08,220 --> 01:20:09,620 OK, sweet.