It's all. Going to zero against Bitcoin.
It's going up forever. You're against Bitcoin.
You're against freedom yeah, welcome to simply Bitcoin live,
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cover. You can use culture dramatic
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the separation of money and state Ladies and gentlemen,
you're tuned in simply Bitcoin live, the most watched daily
Bitcoin only live show on YouTube Rumble X sit back,
relax, enjoy the ride. We have lots of content to cover
today. We're going to start off first
with, I think I've heard this multiple time from multiple
people and Wicked actually released a poll this morning,
which I found fascinating. Basically asked three separate
questions, five questions in total.
And it kind of gave a like a mainstream what, what, what the
expectations of what, what the expectations in terms of price
are going to be by 20-30. What is it?
What are most people expecting? And also of course we have the
Ark Invest, what Kathy Wood and Co expect as well.
And then we have Michael Saylor about a one minute clip of
Michael Saylor's speech at BTC Prague on the mainstage.
His whole presentation is about he did something called the 21
rules of Bitcoin which we're going to cover today and beauty
on actually wrote a kind of like a rebuttal on that, which I
found really interesting. So we're going to cover all of
that. Also, the EU going continuing to
go down the, you know, the totalitarian route.
And here's a headline from No BS Bitcoin E US encryption report
finds layer Two's private ownership of Bitcoin problematic
for law enforcement. We've been saying this for a
long time, how the current system works, a system where
politicians and the government could just turn off your money,
confiscate it at the flick of a switch.
Bitcoin in self custody is a game changer.
It changes the whole conversation, changes the power
dynamic, but only if individuals really take advantage of the
tools in order to achieve that level of sovereignty.
Now, if we're able to achieve this, and I think that's what a
lot of Bitcoiners are expecting, like a percentage of society is
taking self custody of their wealth out of the hands of
government. And I'm not just talking about
taxes. I'm not talking about like
wealth confiscation. I'm talking about it takes away
the government's ability to like if no one is using the currency,
they can debase all they want, but it's just, it's not going to
do anything right? Like if they don't have people
using the currency, then they like it doesn't make sense
debasing it. It doesn't do anything right.
And what you're going to see in the next 5 to 10 years is you're
going to see the state fight back.
We've been making that the case for that for a long time now.
And simply now in the United States, things took a turn,
right? We had, you know, the Biden
administration, we've been talking about it all throughout
the week. They've taken a very hostile
stance towards the industry. And then it was only recently
that there was a whole change in tune when it entered the
political discussion. And it is an election year,
right? So you have now candidates
basically saying I'll protect the right to self custody.
So, but the point remains is that if you are in favor of big
government, big states, huge control apparatus, self custody
is not your friend. You don't like that.
If you're a fan of smaller government, less control, more
decentralization, self custody is for you.
I would like to make the case, and maybe this is the
libertarian capitalist in me, that I think society as a whole
would be better with smaller government.
It would be more efficient. The markets would be more free.
They would be more open people would have more freedom.
And I think that would be better for everyone.
I think. I mean, history has shown that
the best way to organize the society is a just a free market,
just the, the freer the market, the better in my opinion.
That's where you lead. That's where you reach levels of
prosperity in, in human history. The more totalitarian top down
control society has, the less the society becomes poor, right?
They they need to coerce more, they need to control more just
to get people to go along with the, you know, with the scam,
essentially. So Bitcoin is an enemy of any
central totalitarian ideology. And anyone who's against Bitcoin
is fundamentally against freedom.
And one of the best things about Bitcoin is that it exposes
incentives, right? So we're going to talk about
that today because I feel like it's very important.
I think the fight is just getting started in my opinion.
But anyways, no more delay. I do want my legendary Co host
who's always optimistic optimist fields in the house with.
How you doing bro? I am doing great.
I was struggling on yesterday's show.
My elbow was hurting. I felt like I was getting sick
after the show. I ate a huge rib eye, got some
sleep. I'm feeling good today on
Friday. So Opti is back, you know,
hopefully I don't get sick this weekend.
But your boys back. Well, yesterday was a struggle,
yesterday was a struggle and everyone was trolling me in the
chat. So you know I'm back Nico, we
got no time to get sick over here at simply Bitcoin, but you
know, I, I got some raw honey in me.
You know, I ate a rib eye, took a nap.
I I feel wonderful today. I'm still, I still for some
reason can't get to bed early. I don't know what's going on
here so rolling around in bed for like 3 hours, it's not the
funnest time in in the world of Opti, but that doesn't matter.
You guys aren't here for my life updates but man, I feel great.
It's Friday. You all know what that.
Means let's get the energy going.
Bro, let's get. The Let's get the blood pumping,
man. Yeah, we'll see.
We made it another week. We'll see.
We made we wait. We did make another week.
Oh my goodness. Yeah, Yeah, man, we've.
Sheesh. The struggle is real, but hey,
this is our life. We we're, we're blessed to show
up every day. We're blessed that this is our
job. Life is good, man.
We live in paradise and we live on the Bitcoin standard.
We can't complain even when you are feeling sick.
Anyways, let's bring in our guests because this is our.
Guest today we got perfect. Go ahead from Mino.
Yeah, we got Taylor from Mino and I just want to team up
because this is exactly what you said in the intro, Nico.
If you use the tools, you can achieve sovereignty for
yourself. And Taylor wanted to come on and
we're going to talk about why you should run a node.
Guys, I'm I'm sick and tired of seeing you guys in the chat.
You hang out with us every day and you don't run a node yet.
So we're going to go into why you should run a node, the
levels of becoming a bitcoiner to a toxic Bitcoin maxi.
And then of course, we're going to talk about my node.
So Taylor, how you doing this morning?
Great, Yeah, thanks for having me on.
I'm so excited to be on. And I just wanted to say I love
that introduction. That was that was such a good
introduction just about, you know, kind of what's going on in
the political landscape and trying to shut down money and or
I guess free your money and and take control of it.
And so a quick back story. I I remember that was actually
probably what got me into Bitcoin back in the day.
I was reading the Bitcoin talk forums and I was like, this is
kind of interesting. And then somebody made the point
about, you know, there isn't sort of like a Federal Reserve
that can decide to just print more money.
And I was like, that's awesome. We didn't even have bad
inflation at the time. But that point was just so like,
I guess powerful in thinking that there's an algorithm that
controls the, the monetary supply.
And it's not people just deciding one day I want there to
be more money. I think we need more money.
I'm going to go start, you know, handing it out to whatever
'cause I think is good. And so that was, that was
absolutely one of the things that got me into Bitcoin.
So I, I really like that introduction.
And then that ties into, you know, you need this free money
alternative that that you can start using and so that that is
Bitcoin, but there's different ways to use Bitcoin.
I think a lot of people kind of start looking into it and then
they go think, Oh, number go up, like, let me go buy some
Bitcoin. They go buy it.
They put it on Coinbase or buy it on Coinbase or, you know,
some exchange and they just watch it.
They just let it sit there and they're like, cool, and you
know, it's going up, but that's still confiscatable.
That's still, you know, there's there's third party risk
Coinbase could go under or whatever exchange, you know,
could could go under, you could lose it, it could get hacked and
the exchanges are of course big targets.
And so, you know, then the next level down, I think that a lot
of people get stuck at a lot of people don't go down here, but
that's taking self custody of your Bitcoin.
And I'm sure all the, the people in chat here, you know,
understand a lot of this, but hopefully they have, you know,
if anybody hasn't taken, taken their, their Bitcoin off the
exchanges, please go do that. I don't, I'm not going to ask
you to call yourselves out, but if you haven't, please some of
these suggestions, but but get it off the exchange, you know,
take, take custody of it. And then preferably, you know,
don't, don't keep it on a Internet connected computer, put
it in cold storage. And then that way your, your
Bitcoin is about as safe as it can be.
But at that point, you still have other concerns.
There's privacy concerns, there's, you know, who knows
about your Bitcoin, who has access to your, your public
keys. And so even if they can't
control it as spending, as in spending it, they can, they can
still look at it, they can still like track where it's going.
They know how much you have. And you know, people don't want
that. Do you?
Do you want like every investment account, every
checking account, every savings account, you have to be public
information? I, I don't think there's a
person out there that would say, yeah, like I want, I want that.
I want people to be able to track all my spending and
everything. Nobody wants that.
That's that would be insane. So, and, and I think that's when
you get into running a node and why that's important because
then your transactions go from your, you know, cold storage
device from whatever wallets you control.
Those transactions are going to your node directly to the
Bitcoin network. They're not going through a
third party, they're not going through some live service
that's, you know, seeing all of your X pubs and seeing every
time you spend your, your Bitcoin, they, they don't have
the ability to reject it. I'm not sure if that's happened
in the past, but you know, with the third party service that
you're relying on, which I think a lot of the, you know, hardware
wallet providers, that's their default set up.
It's to go through some service that they're offering.
So they can kind of see, Hey, we've got this many users, we've
got people kind of controlling these funds and they don't, I
don't know if they go into a lot of detail about what they track,
but they have the ability to. And so I, I think what, what you
would want to do ideally is run your own node, divert those
transactions from going to the third party, send it directly to
your node. And then it's, it's on the
Bitcoin network. And that can be done via Tor.
So even your ISP or whatever else can't be trying to take a
look at, at your, your transactions.
And you know you trust me bro, don't.
Verify it. Yeah, just laugh.
At it. I think that's that's kind of
what like a a lot of people don't realize they're doing
that, but that's what they're doing.
They're just saying like, let me go rely on this third party
service, like let me go rely on this other company to go, you
know, help me transact my Bitcoin, which you know, that
that's, that's not ideal. That's not what Bitcoin was
meant to be. Yeah.
And I think that's something that that a lot of people don't
understand, which is like, you can be interacting with Bitcoin,
but if you're not running your own node, you're trusting
someone else's fundamentally, right.
So I think it's like, you know, essentially I think step one is
self custody. Step 2 is running a node so that
you're using your own copy of the blockchain because if not,
you're trusting someone else, you're doxing your privacy,
potentially your location with the IP address, you know, like
you're definitely doxing your stack for sure, right?
You know, and that's not ideal, right?
So you should definitely be, you know, self hosting and you
should be definitely running your own thing because if not,
you have to trust someone else's.
And, and like, I think we're going to move into a future
where and you're already kind of seeing, seeing the inklings of
this, like just running it, just running a note itself is like,
like it is a form of protest, right?
Like you are, you know, you are, it's like not only you are your
own bank, you are the CEO of that bank.
Like you make the rules. You know, if you run it through
Tor, you broadcast everywhere worldwide.
No one knows where you at. No one knows where you are.
Like, it's incredibly empowering.
I can't recommend it enough anyways guys.
Before one last thing I want to say, Taylor won't shame you into
taking self custody, but Opti well do not leave your Bitcoin
on in exchange. Yeah, All right, everybody, I do
want to give a very special shout out to Simply Bitcoins
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All right, everybody, let's hit the numbers.
Lots to talk about. The Bitcoin numbers.
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What? All.
Right, Opti is taking over the show.
I'm going to make him full screen and we're renaming to
simply Fiat At the time recording the Bitcoin price SATS
per dollar is 1532 block height 847,920 blocks to having 200 and
2080 having estimate March 25th, 2028 total lighting network
capacity 4812 BTC capacity value 314 million U.S. dollars
realized monetary inflation 1 .59% market capitalization 1.29
trillion Bitcoin verse gold market cap 8.09% in the grand
scheme of things, we are just getting started.
All right, ladies and gentlemen, I do want to play you this clip.
It's pretty cool short form content that our friends over at
BTC Prague made and of course they're highlighting the Chad
Sailor. Seems like he had a keynote at
the conference. He absolutely crushed it.
Let's check it out. Everybody gets Bitcoin at the
price they deserve. In December of 2013 I looked at
it and I tweeted, you know bitcoins days are numbered.
It'll probably go the way of online gambling.
Big mistake. Bitcoin was $892.00.
OK, I got the price I deserved and when it gets to $950,000,
there'll be some whiny person, a talking head on television
saying it looks over overbought. Right now it looks a little bit
heated. I, you know, we think it's going
to trade down to 700,000 and they'll miss it.
It'll go to 8 million and they'll buy it at 8 million and
they will get Bitcoin at the price they deserve.
I mean bro $8 million Bitcoin that's how much how much X is
that? Like how like 100 more than 100
XI think? More than 100 X from here, yeah.
Dude that, that's absolutely insane.
I could feel Opti smiling from here.
Anyways. My kind of bowl sauce.
Mika, this is my kind of bowl sauce.
Yeah, I mean, OK, so now let's pull it down, back down to
Earth, right? By the way, I don't, I don't
disagree with anything that Sailor just said.
I fundamentally agree with all of it.
I think eventually it's inevitable that Bitcoin hits
eight million. I think most people just 'cause
you know, it's it's Infinity divided by 21 million, they're
going to they're going to just print a ridiculous amount of
money until Infinity. That's just the way that it
works. So I mean like it might just
like it will reach 8,000,001 day.
The question is what is the purchasing power of that set 8
million? I think that's the bigger
question anyways. So going back to this, what's
Bitcoin's price going to be at 20-30?
There's a lot of people that are keep saying this date, I keep
saying that, but seeing this pattern of this date, twenty $31
million Bitcoin and I want to talk about it.
So of course we have Arc Invest and what came out this morning
was this financial firm called Bernstein came out with just
this expectation. A broker assigned the software
company anyways. So there's that.
And then there's this poll by Wicked that I want to get to.
So first we're going to start off with this Coindesk article.
It says the price of Bitcoin is likely to hit 1,000,000 by 2033
and reached a cycle high of 200,000 by 2025.
Bernstein said it initiated coverage of software developer
MicroStrategy, the biggest corporate owner of the largest
cryptocurrency with an outperforming rating.
MicroStrategy now owns 1.1% of the global supply of the world's
largest cryptocurrency worth 14.5 billion, having transformed
itself from a small, small software company in the space of
four years, the broker said in a research report on Thursday.
Bernstein initiated coverage of the Tyson Corner, Virginia based
company with a $2890.00 price target.
The shares close at around 1484 on Thursday.
The NASDAQ listed firm currently holds 214,000 Bitcoin.
It began buying the cryptocurrency in 2020.
The company's founder and chairman Michael Saylor has
become synonymous with brand Bitcoin and has positioned
MicroStrategy as a leading Bitcoin company attracting
attracting at a scale capital for an attractive Bitcoin
acquisition strategy. MicroStrategy positions itself
as an act active leverage Bitcoin strategy versus passive
spot ETFs, and it goes on to say the brokers BTC price forecast
is driven by the unprecedented demand from spot exchange traded
funds and because supply of the cryptocurrency is constrained,
Bernstein now estimates that Bitcoin could reach 500,000 by
2029. The 2025 estimate was raised
from 150,000. I find that really interesting.
Now let's check out the Arkan vest.
It's personally one of my favorite just because of the way
that it's broken down and she kind of lays out or they better
said they lay out a bunch of things that Bitcoin basically
making an assumption that Bitcoin is going to penetrate a
percentage of these markets. So of course you have the
corporate treasuries, you have the remittance asset, you have
nation state treasury, you have emerging market currency, you
have economic settle network, you have seizure resistant
asset, you have institutional investment, you have digital
gold. So all those things Bitcoin
could potentially penetrate and even with like relatively small
percentages, that just makes up the base case.
Like the bottom one is digital gold.
Are you saying by 20-30 Bitcoin isn't going to make up the
entire market cap of gold? I think it will.
I think it's going to replace gold a lot faster than that.
Right. And then she has the
expectations based on the bear case, the base case and the bull
case. So the bear base bear case to
Arkan Vest is $258,000 Bitcoin. The base case is $682,000
Bitcoin. The bull case is $1.48 million
Bitcoin. Now this is the one that I find
the most fascinating because it kind of reminds me of that show
like who wants to be like a millionaire?
No pun intended, by the way. And one of the things is like
ask the audience. This is exactly what Wicked did.
He asked the Bitcoin Twitter audience, the Bitcoin
Twitterverse, what they thought. And there's five questions.
And it kind of like leads you at like a like a like an
assumption. So I'm going to make this
interactive opti. Will Bitcoin have an all time
high above 100K by 20-30? Yes.
Yes, OK, 95.2% of people on Bitcoin Twitter agree with you
Taylor. Will Bitcoin have an all time
high above 250K by 20-30? Oh yeah, yeah, absolutely.
So 95.3%, which is interesting because more people.
Voted on Nico. There's less votes too, so.
That's true. That's true.
There's less of a poll. OK, back to you, Opti.
Will Bitcoin have an all time high above 500 K by 20-30?
Yes. OK, 81% agree.
Taylor, Will Bitcoin have an all time high above 750K by 20-30?
Oh, this one starts getting hard Just talking about peaking, I
think there's a chance, but on average I would say probably
not. So an all time high so.
Peaking, peaking, right? So I, I don't know, I still I, I
think it's possible, but I, I don't know, my 2030 prediction I
think would be closer to, I don't know, low few 100,000
probably I don't know, I think it might peak at about 500 K.
Okay, so no. So no for this one I don't think
so. Vast majority, 61% of Bitcoin
Twitter disagrees. They think it's gonna go above
750K And then the last one. Will Bitcoin have an all time
high above 1,000,000 by 2030? I did.
I gotta for for the culture. We gotta say yes, yes, OK.
Well, whoa, that. Bears in the six.
Percent of Bitcoin Twitter believes that no by 20-30 we
will not hit $1,000,000. But it seems like Bitcoin
Twitter does believe that it will be between 7:50.
So most people believe it's gonna be between 7:50 and 1:00
million over the next. Too many bears ago really like.
5 1/2 years so and that's still an incredible return.
I don't think anything else will give you that type of thing like
sure thing. So just to kind of give like a a
quick recap Bitcoin Twitter believes it's going to be
between 750 and 1,000,000 by 2030 Arc invest.
They lay out three cases. The base case is 682,000.
You know, these numbers like they, they seem kind of similar.
And Bernstein does predict, well, to be fair, it does say
within 10 years. So we're about 5 1/2 years by
from 2030, so. What was the price 5 1/2 years
ago? I can't let me.
I'd like to do this in the background.
It was about like 20 K 'cause it was like what, the 2017 eighteen
cycle that. And the low was 3K right?
Like 3.5. Yeah.
So what's 3.5 to 70 K? Yeah, 3.5.
Well, it just got low. It's more than.
A 10X? It's more than a 10X.
OK. Yeah, yeah.
It's more than a 10X. So I I think Taylor's right with
the 700K prediction is maybe where we're gonna be at.
I mean it's possible, but yeah anyways my guess would be closer
to maybe 500 K peaking I can the next cycle.
So like, you know, around 2030. I do find it, I do find it
interesting though that like now you have like this isn't just a
bunch of plebs or essentially a bunch of random and on
bitcoiners that are just. Like we got institutions being
stupidly bullish. And like, that's the reason that
we're gonna cover it cuz we never do.
We simply Bitcoin never does price predictions ourselves, but
we do cover it when, you know, notable people are talking about
this. And I just found that
fascinating because it's Bernstein.
You have Kathy Wood from Arc Invest and then of course, like
kind of ask the crowd of Bitcoin Twitter.
And it's, it's interesting because the general consensus is
about the same. It's like roughly $1,000,000
between 750 and a million roughly.
People think that and the vast majority of people truly believe
it's going to be way north of half $1,000,000.
I mean, that is absolutely insane.
I, I remember it's like, it's like I was, if it was yesterday.
I remember when Bitcoin was at like $3500 like and everyone
thought the, the sky was falling.
I, I remember that. So we we had a what was that
guy's comment on this day today? On this day five years ago, 5/8
thousand, 8000. 690 yeah I mean there you go right?
So anyways, my Chinese fortune cookie says 637,000 by end of
year. Could you imagine like things
would break? Yeah, but anyways, sat wise Jank
says I'll be happy with 150K this run.
We've been sideways for so long, we won't ever fall below that
high of 60s as a new low. So yeah, I mean, very, very
interesting. But anyways, I thought you guys
would find it. I thought you guys would find
that valuable and interesting, all these different takes.
Anyways, before we move on to the next section, I do want to
give an incredibly special shout out to our sponsor.
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the culture. Lots to talk about now.
Let's hit the culture. Let's hit the news.
Let's try that one more time. The Daily News.
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not your cheese. Self custody is the revolution.
You want to get yourself a passport by Foundation devices.
All right, everybody check this out.
This is Sailor's presentation from BTC Prague 21 Rules of
Bitcoin by Sailor One. Everyone who understands Bitcoin
buys Bitcoin Two. Everyone is against Bitcoin
before they are for it Three. You will never be done learning
about Bitcoin 4. Bitcoin is powered by chaos 5.
Bitcoin is the only game in the casino that we can all win
Bitcoin 6. Bitcoin won't protect you if
you're not wearing the armor 7. Bitcoin is the one thing in the
universe that you can truly own 8 Everyone gets Bitcoin at the
price they deserve. Nine Only buy Bitcoin with the
money you can't afford to lose. That's a really good point,
right? You know, because you always
hear it. It's like only buy Bitcoin with
the money you can't afford to lose kind of flips that on his
head. Only buy Bitcoin with the money
you can't afford to lose. 10 Tickets to escape the matrix are
priced in Bitcoin that's deep. 11 It's Michael Saylor based
maybe anyways. 11 Bitcoin insight is restricted to those
with the need to know. 12 All your models will be destroyed
talking about this episode. 13 The cure to the economic ill is
the orange pill. 14B for Bitcoin, not against Fiat. 15
Bitcoin is for everyone. 16 Learn to think in Bitcoin. 17
You don't change Bitcoin, it changes you. 18 Laser eyes
protect you from endless lies. 19 Respect Bitcoin or will make
a clown out of you. 20 You do not sell your Bitcoin. 21 Spread
Bitcoin with love. So what do you think Opti?
What's your take on this before I move on?
I mean, I like it. He's obviously talking in my
language, but the one that I have the most contention with is
Bitcoin is powered by chaos. Like, well, I, I agree and I see
the sentiment and like, I kind of want to say the opposite.
Like Bitcoin to me is the stable coin.
Like Bitcoin is that piece in the garden.
And yeah, maybe powered by chaos, but like, I don't know,
it brings peace to you and it's, it's the only stable thing in
the world. So yeah, it's a pretty good
list. I, I kind of like it though.
I, I know you are gonna bring on Beauty On's one and I, and I
didn't even get this one in the morning.
I saw Beauty On's one. I'm like, what is he even
talking about? So.
He went hard in the pain. But let's ask Taylor what's his
thoughts on this? And let's do the beauty on one.
Yeah, so on #4I I I think maybe maybe he was referring to like
the only reason Bitcoin has value is because Fiat is so
chaotic, because there are no rules.
People can just invent more people can do control it.
Maybe, maybe that was what he was meaning.
The one, the one I kind of disagreed with was #2A little
bit like everyone is against Bitcoin before they are for it.
I don't, I don't necessarily know if that's true.
It might be more true now, but back in the day, like there,
there wasn't as much anti Bitcoin sentiment.
People would just like find it and realize this is better.
And it's not that they necessarily started out against
it, but now that the price is higher and I, I think people do
have a tendency to say, Oh, I, I missed the, you know, the like
early waves. So you know, they're they're
going to more likely be against it.
But other than that, I thought the list was was really great
and I kind of liked the only buy Bitcoin with mine.
You can't afford to lose. That was that was kind of
interesting because it did flip it on its head.
But yeah, yeah, it's it's a good list.
And I think learning to think in Bitcoin is really important.
Like I think a lot of people buy Bitcoin and they just see it for
like U.S. dollar go like number go up kind of thing.
Like they they want Bitcoin to make more dollars, not that they
want Bitcoin. So I think learning to think in
Bitcoin is is really important to think, you know, this is this
is my currency. Like what was that like really
early meme? Like it it was was it from the
matrix? And it was basically like.
Oh yeah, the $1,000,000 Neo One. Yeah, you'll you'll sell when it
hits, whatever. And he's like when you I forget
it. I, I don't know, I wish.
You won't. Basically you won't.
I butchered this this meme reference the other day as well,
but basically the general gist of it is like you won't have to.
You won't have to sell your Bitcoin now.
It's like Bitcoin is gonna be worth the $1,000,000 one day and
it's like, no, like you won't have to sell your Bitcoin for
$1,000,000, you just buy. Things, yeah.
So, but no, I get that dude, that meme is so powerful.
Opti. Can you pull it up while I show
the find it anyway, so not all bitcoiners we're happy about
this. We have beauty on Beauty on is
the the founder of a stecco, this awesome kind of like self
custody Bitcoin app. You like buy these vouchers and
you don't even have to do KYC legally like it's it's really,
really interesting. Go check out a Steco if you
have. Here's the meme.
But here's the meme.
It says, what are you? What are you trying to tell me
that I can seriously trade my Bitcoin for millions someday?
No, no, Neo, I'm trying to tell you that when you're ready, you
won't have to like. Yeah, bro.
Like, it's such a powerful meme. Anyways, here is Beautyon, and
he says Beautyon's 21 rules for Bitcoin as a total remedy for
sailors. 21 rules for Bitcoin. Oh, you got to love Bitcoiners.
One, you don't need to understand Bitcoin to be able to
use it. I agree.
Two nobody cares what you are for or against in maths 3 Nobody
needs to grasp Bitcoin to do what Bitcoin was designed to do
4 Bitcoin is not powered by chaos.
Bitcoin is extremely orderly. It is Fiat and evil KYC status
who are for chaos. Go off king.
Oh my God beauty on dunking hard. 5 Bitcoin has nothing to
do with gambling. Bad analogies are anti Bitcoin.
Six Bitcoin can't protect you 7 No one owns Bitcoin, it is not
an asset or a coin 8 The price of Bitcoin doesn't matter 9
Bitcoin is not about winning and losing. 10.
The Matrix is a science fiction movie, not reality. 11 Computer
illiterates think knowledge is required to use Bitcoin. 12
Bitcoin does not destroy models, it enforces them. 13 Orange
pills are toxic, don't eat them. 14 Status who pretend to be
Bitcoiners think there is no problem with Fiat.
They're gravely mistaken. Don't follow them. 15 Bitcoin is
for everyone on Bitcoin's term, not the status terms. 16 Learn
how to think. 17 Bitcoin can't change people.
It is not LSD. 18 Laser eyes on avatars can't make Bitcoin
change the world. 19 Bitcoin is, excuse me, not a person or
pronoun it does not need or cannot understand respect. 20
Sell your Bitcoin when you need to.
Don't be stupid always. 21 Stretch out with your hate.
Hate the state. Oh man, gotta love bitcoiners.
Also, in other news, MicroStrategy boosts its stock
sale to $700 million to buy Bitcoin.
So we reported the news, I think it was yesterday or the day
before, basically that they are using the infinite money glitch,
leveraging the increased valuation of their stock in
order to borrow money to buy more Bitcoin.
They initially made an announcement that they were
going to do $500 million. Apparently they moved this up to
700 million. I wish I had an infinite money
glitch. That would be absolutely
awesome. And the last news that I want to
cover today for the week is E US Encryption report finds layer
Two's private ownership of Bitcoin problematic for law
enforcement. It goes on to say.
The report provides a overview prevailing and upcoming
encryption technologies, including quantum computing,
Bitcoin and other cryptocurrencies, DNS protocol,
5G networks, machine learning and artificial intelligence, and
explores quote, how to uphold citizen privacy while enabling
criminal investigation and prosecution.
It is quote, it is vital that relevant stakeholders in the
justice and Home Affairs domain are aware of these developments
and are provided with the means to stay on top of these
technological advancements. Last one member of EU Patrick
Brayer of the Pirate Party warns that the following push against
secure encryption comes as a part of renewed push for
European mass surveillance. Last one brayer also warns that
European Council has already agreed to green green light
quote chat control version two point O proposal next week goes
on to say several sanctions of the encryption report focused
specifically on Bitcoin and other crypto currencies.
These include the following experts.
There are mainly two types of wallets, custodial and non
custodial. Custodial wallets refer to
wallets where the user does not hold their own private key, but
the service does so on behalf of the user.
This is very common As for example funds stored at
centralized cryptocurrency exchanges are custodial.
The phrase not your keys, not your crypto refers to such
storage. Goes on to say while easy to
use, there can be risks using custodians.
As the company holds the private keys, the users have no
cryptographical control over the funds.
For law enforcement agencies, this can be beneficial is that
they can request exchanges and custodian wallets, provide
providers to freeze and seize cryptocurrency assets.
It's kind of like what I was referencing in the beginning.
The reason that governments love banks, the reason that they were
able to get away with the six one O 2 order is because the
gold and the money in people's banks are with a custodian.
There's only a handful of custodians that the government
has to knock on the door of and say, hey, you know that money
that you're holding for another guy?
Well, you can't use that anymore.
And the custodian, of course they're going to go along with
it. In fact, you can't even make the
bet. You can even make the case that
the custodian is in bed with the government.
Remember the 2008 financial crisis and all the bailouts,
right? Those bailouts were for the 12
larger, I don't know how many banks, but it was like the, the,
the large mainstream banks. So like, of course they're like
going to do what the government wants them to do.
Now, this discussion changes when the custodian becomes
millions upon millions of individuals thinking freely,
doing their own research and saying, yeah, like history has
shown, like the Canadian truckers protest that you guys
can't even control. Like you guys can't help
yourselves but to censor speech as the Twitter Files revealed,
right, that the US government was working with social media
companies to censor the political discourse of certain
Americans, right? They can't even help themselves
but to censor speech. And at the same time they're
saying, but trust me, bro, we won't do the same with money.
I'm sorry if we don't trust you like and with, and the trust has
been broken on a different on, on, on multiple levels, like
level #1 is we trusted you not to debase the currency.
You've broken that trust. Number two, we trusted banks to
hold our money. And they've broken that trust
multiple times throughout history, right?
So like the infamous bank runs of the, of the late of the early
1930s, man, it'd be great to pray like, like you're supposed
to trust these institutions holding your money, But then
the, the, the, the incentive structure gets misaligned
because all of a sudden they're really not incentivized to just,
you know, die to custody your money.
And you know, like, no matter what, no one's going to get me.
They're kind of really incentivized to hold on to their
job, right? Like who's going to take better
care of your money but yourself? And that's what they don't want
you to know. They don't want.
They planned and they designed this system always to have this
intermediary, always to have this custodian.
Why is it my problem that Bitcoin comes along and says,
you know what? There is no necessity for
custodians. You can not only can you take
self custody, you can run the software yourself.
We're going to talk about nodes are in the culture, right?
So like, oh, Boo Hoo, like. And again, it's not that it
stops law enforcement. You can still arrest someone in
meet space and put them in a box.
What they're arguing for is they still want those levers of
control where they can just flick switches and just turn
people's money off. The era of political money is
slowly coming to an end. And don't let them psyop you
into thinking that that's somehow dangerous for society.
I would say it's more dangerous for society, government to
retain their power and control over money because that's just
going to lead to more endless wars, more debasement and more
human suffering. Full stop.
Anyways, it goes on to say non custodial wallets refer to
hardware and software wallets where the users have
responsibility for their own private key storage.
This comes with quote great responsibility as a loss of
private keys means the funds are not accessible anymore.
Furthermore, sharing or theft of the private key and this is
where they're trying to scare you.
It's like lots of responsibility theft can happen, you know,
don't do that. You want to leave them with
custodians. Well, you know, one of the
biggest thefts in human history, one of the biggest thieves is
the state themselves, right? Anyways, goes on to say a nodic
phrase is and then it kind of explains all that.
But anyways, you guys get the general gist of it and you're
going to continue to see this pattern all over the world as
Bitcoin continues to be adopted. You're just going to see the the
elements of of, you know, of the bureaucracy that benefited from
controlling money, benefited from currency debasement, fight
this as if their life depended on it.
And you can make the case it's because it does, right?
But they're not really acting out of your best interest.
They're really acting out of the interest of like, we have to
retain the power of the money printer so that we can continue
what we've been doing, you know, over the last century.
And it's been terrible. Like Bitcoin was was born as a
response to how much they dropped the ball, right?
Why are we going to go back? I think it's time to try
something new. So far, the results have been
incredible, not only for my life, not only for the lives of
Bitcoiners that have adopted Bitcoin, they've migrated to a
Bitcoin standard, but you could also like to the life of of
these public companies that have adopted a Bitcoin standard.
Look at how, look at how well they've performed to the life
of, of, of the, you know, shining country on a hill, El
Salvador. Look at how, how look, look at
how hard El Salvador is killing it right.
So like so far and and you you know, what tells me we're over
the target is how much the legacy media is responding to
all these institutions killing it like El Salvador is killing
it. Media was like El Salvador is
going to burn and then they go to Argentina.
The IMF goes to Argentina, says Argentina will give you another
bailout, but you have to de incentivize the adoption of
Bitcoin. Argentina suffers hyperinflation
like it all, like, you know, it's like there is a pattern of
every time you listen to the IMF, things don't go well.
There's a pattern of not every time, but perhaps a lot of the
time you listen to the state and they just don't have your bitch
best interests at heart. I just can't help but to think
the pandemic over a lot, you know, pandemic and all these
things, like a lot of the things that they weren't saying, were
saying weren't true. And then I can't help but to
think of my lived experience over these eight years that I've
been in Bitcoin. And I could tell you for a fact
it's been a very good idea not only to buy Bitcoin, earn
Bitcoin, but also put that into self custody.
And I've seen it unproved, not only my life, but the peep the
lives of the people around me. I don't think I've ever met
someone that has told me Nico adopted Bitcoin.
My life is shittier. I don't think I've had that
conversation before, right? Don't trust me.
Verify yourself. Check out, check out priced in
Bitcoin, check out. We've done episodes where we've
made the case that the American dream isn't dead.
If you've migrated to a Bitcoin standard, life gets
progressively cheaper. They want you to live in a world
where life gets progressively more expensive to benefit them,
right, To benefit the state, because that's who the benefits
when they, when they debates the currency.
And you can save very, very wealthy people as well because
they own assets. But I would say mostly it's the
state that benefits. That's how they get away with
the $1.7 trillion in deficit spending.
Anyways, I've gone rambling and been on a tangent, but I get
very passionate when I hear these politicians like, oh,
it's, it's too complicated. You have to, it would require
responsibility. It, it stops us from doing our
job. Like, no, dude, I don't believe
you. I'm sorry if I don't believe
you, but that's where I'm at. ANYWAYS, Taylor, what's your
take on this? You don't start, you know, a a a
company that makes nodes if you didn't feel very passionate
about this specific subject. Yeah, absolutely.
And that was a great rant. I, I, I think it was, you hit on
a lot of good points there because I, I think it's just
incredibly wrong for, you know, governments to come in and say
basically you can't just keep this little tiny electronic
device in your house. It's not doing anything except
like holding some savings, right?
Like I know with the six one O 2 order back in EU s s history,
they did try and go take gold from people.
But I, I think looking back at that example, it's easy to say
that you know, that was wrong, like they shouldn't have done
that. It it's not right to just go
decide one day. We don't, we don't think you
should be able to save money. We're going to go start
confiscating assets, not because you haven't committed any like
terrible, awful crimes or anything, or you're about to go
to prison, but because we just don't want you to have those
things. And so I, I think a lot of the
regulations are concerning to a lot of Bitcoin companies.
Like you said in the intro, there's, I think it was the
intro that, you know, the US regulatory environment is
getting a little bit worse. And it has been over the past
couple of years for a lot of Bitcoin companies.
A lot of exchanges are, are starting to leave.
A lot of exchanges are not offering like derivative
products and other things that, you know, people might want in,
in terms of, you know, accessing their Bitcoin or doing whatever
they want with it. I think they're all just sort of
assaults on freedom. People should be able to do what
they want, especially with their money.
And, and I think the government is getting scared that there's
like valid alternatives out there.
They're still like tiny compared to what the US dollar is, but
they've seen the growth over the past 10-15 years.
And, you know, it's, it's scaring them and they don't like
it. They don't like people being in
control of their their own finances and they don't like
people being sovereign. And so they, you know, are going
to attack that. And I think it's probably going
to get worse, very likely. And so, and I think a lot of the
regulations, even with like a company that builds nodes and
hardware wallet companies, I think are going to be the ones
that potentially get targeted next.
And regulations make it very difficult for them to offer
their products. Or they get regulated in such a
way that hardware wallets like are forced to go through some
sort of like third party exchange.
Like they could be regulated into saying, you know, you can't
run your own node. Like if you have a hardware
wallet, you're forced to transact through a third party.
So that way there's like sort of a choke point on the spending
that money or, or transacting, and then it gives them more
power to regulate even further. And so I, I think there's risk
to a lot of Bitcoin companies going forward.
You know, there's, there's going to be challenges and people will
just have to pay attention and, you know, make very good
argument to make sure that it's, it's what they're trying to do
is well publicized so that they don't get away with sneaking
regulations. And I forget the details, but a
couple years ago it seemed like that was happening.
They were trying to sneak a lot of self custody kind of stuff
into to certain laws that were getting passed.
And it's and, and a lot of the laws at the time were written
very, very vaguely. So that's another concern as
well. Politicians who don't really
understand the laws they're writing.
They hear from lobbyists or other people, they go past laws
and then it's, it's worded in such a terrible way that like
all self custody might be outlawed, even if they'll say,
well, you know, we weren't trying to do that, but look what
happened because of some laws we passed.
And so I can see, I can see them trying to do stuff like that
too. So it's concerning.
We'll have to pay attention and make sure that, you know, those
kind of things don't don't get passed and that we argue for the
ability for people to, you know, have access to their own money
and the money that they choose. Yeah, absolutely.
Now it's really, really good perspective.
Opti, what's your take on all this, brother?
Also shout out to the 1173 of you guys watching live between
YouTube and X. And shout out to the 50 or so of
you guys watching live on Rumble.
If you guys are enjoying the show.
It really helps with the algos if you smash that like button,
really tells the algos to push the orange signal forward.
Opti, what's your take on all this, brother?
Well, I, I just really want to touch on the last part, even
though I, I, I could probably rant for like an hour about what
Beautyon was saying, but I'm, I'm, I'm going to avoid that one
because I, I love Beautyon ANYWAYS, kind of echoing what
Taylor was saying and actually you kind of asked like a
rhetorical question, Nico. And every time I see a
government or, you know, a banker or politician basically
fight Bitcoin or say, like, you know, we need, we need
custodians to hold the Bitcoin and you guys shouldn't be able
to take your private keys into custody.
I always hear one thing and it's just the hubris coming out of
their mouths basically saying like, you're too dumb to control
your own money. Trust us, bro, Like we know how
to control your money better. And it's always feels like a
slap in the face every time I, I, I see stuff and narratives
and, and rhetoric on that, that vein, because it's really not
that difficult. Like it, if you can remember a
phone number, if you can send an e-mail, like you can take your
Bitcoin into custody. Yes, there's risks that come
along with it, but you know, when you seek freedom, there is
always going to be risk. And This is why we're in the
position we're in right now is because everyone has to come to
the idea of the nanny state that, Oh, there's always someone
to protect you versus taking personal sovereignty.
So anytime I see any legislation, any kind of
whatever bills or, or even just, you know, propaganda in this
vein, I'm always just like mad. They literally think they're
better than us. Like they literally think you're
stupid and that you can't control your own wealth.
And this is the stuff that gets me riled up.
It's like, no, if an 80 IQ Bitcoiner like myself can hold
Bitcoin and take the keys into cold storage, like anyone can do
it. And the more they tell us that
it's hard and it's unsafe, it's the, the more I want it.
Like I don't want the the bumper.
What's the thing the bumper lanes from bowling in regards to
my money. Because that's why we're in the
position we are right now where they can shut you off the
banking system, they can cast you off into the wilderness is
because they have so much control over the money and so
much control over the society and of course, so much control
over people's mind share where they're like, you can't do this.
Trust us, bro, we got this. And really what I want to say to
the EU is just a simple have fun staying poor.
Like they just continue to shoot themselves in the foot.
It's almost most incredible how bad all the legislation coming
out of the EU is regarding Bitcoin.
And they, they just, again, whenever I see stuff like this,
I'm always just thinking like, man, these politicians and these
bankers really just want to destroy Europe.
Like I know you're here to protect us, but they, they're
just constantly working against their citizens.
And it's, it's almost mind blowing.
And it really goes back to the last point of beauty on 21 rules
for Bitcoin. And it's the idea that the state
makes everything worse. Guys, I don't know.
I don't know what example we can bring.
There's plenty of them. But anytime the state gets
involved, did they make things worse?
Because they're not out here to protect you.
All they're doing is trying to stuff their own pockets.
So as Beauty on said, you know, neuter the state, let the hate
flow. Make sure you understand what is
going on and the state hates you.
It is what's that? What's that mean?
It's not rest red versus blue. It is orange and it's the state
and it hates you. No, it's you.
You guys know it's it's you versus the state and the state
hates you. All that good stuff.
But this is what we want to do here.
You want to take back personal sovereignty.
And the more they try to bubble wrap the world, the more they
try to bubble wrap Bitcoin, the more I know I'm in the right
place and I'm like, I, I don't need your protection.
I, I'm OK. I'm an adult.
Yes. I might not be the brightest,
but I can control my own wealth. Thank you very much.
You guys got us in this position in the first place.
Yeah, I mean, I think the state doesn't want to lose control.
They've gotten a lot more over the past 40 years with digital,
like U.S. dollar transfers, right?
Like people used to sort of hold like physical stock certificates
or physical bonds or physical gold.
And I think as things have gotten digitized, the
government, just, the state ended up with a lot more control
because everything was digital. And so now they're they're
finally seeing alternatives. And, you know, they're not super
happy about losing control. They've had it and they don't
want to lose it. It boils down to that.
And I, I just, I, I, I hate how they hate the strong word, but I
just, I strongly dislike how they try to gasp and just be
like, Oh, it's for your protection versus like we tried
that for many years. Like you guys have totally
abused that trust. And now like they're, they're
coping and they're basically, oh, it's going to require
responsibility and you might lose your stuff.
And like, you know, they're telling you all these things,
but I, I'm sorry, I just, I don't trust them.
Or anyways, I do want to give a shout out to.
And by the way, guys, and, and I know the reaction of a lot of
our viewers would be like, Nico, what are you talking about?
Like the banking system has been relatively stable.
OK, So what I, what I would respond to that is like you, OK,
Congrats. You have a country that has a
relatively stable financial system.
The vast majority of the world doesn't have that privilege,
right? So of course we live closest to
the money printer. Like if you live in the US or
you live in the Western world, you have a relatively stable
Fiat currency. And because it's relatively
stable, you know, they're able to kind of do the shenanigans in
the background. And you know, things are they
give the appearance that it's stable until it's not, right?
With Bitcoin, it doesn't matter where you are.
You can now earn in a, in a, in a currency that's not only
stable, but it's going to go up. And you know, it goes up in
value. It's Infinity divided by 21
million anyways, I don't wanna give a shout out to the orange
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application. All right, everybody, let's hit
the culture and talk to Taylor. The daily culture.
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my Bitcoin mining A6 Opti. Yeah, okay, perfect.
All right, So Taylor, we, we teed this up before the show and
I knew we were gonna get the question in the chat.
So teeing you up perfectly from the chat, we got Mateo and he
goes. Can you guys go deeper into
nodes? Many people still don't know
everything you can do with a node and how sovereign you
actually become. So I guess let's just start,
we'll start with the basics. Why do people need to run a
node? Or rather, why do you think they
should run a node? Yeah, absolutely.
I think the best way for me to describe it is a node is a
direct connection to the Bitcoin network.
And starting from there, you can build on top of it and build so
much further, but it's your direct connection to Bitcoin.
Early on, everyone that ran Bitcoin Core as their wallet had
that. But as the blockchain has gotten
larger, it's not as feasible for everyone to run a full node just
on their PC. You can't just download Bitcoin
Core and in 10 minutes be up and running with a Bitcoin wallet.
So it's a little more challenging now that that and it
it, there's a little bit more responsibility, I guess, with
running a full node and being able to transact without the use
of a third party. So starting with that, like
direct connection to the Bitcoin network, that used to be easy.
It's a little more challenging. So you have to kind of run a
node and most people choose to run it on a separate small, like
tiny PC or a Raspberry Pi or something like that.
They can start with that and then connect all the other
Bitcoin wallets they have to that.
So it could be, you know, a Lightning wallet that's on your
phone. It could be a Lightning wallet
or a Electrum on your PC. They all connect back to your
node and that way that node can power all of the Bitcoin wallets
that you might want to be using. And so now all of those
transactions, all of those funds are not going through a third
party that can, you know, either shut it down or just just
monitor the transaction. You don't want people monitoring
all those transactions. Like I said earlier, you don't
really want to provide visibility and like no sane
person wants everyone in the world to be able to like just
look at their checking account, savings account, whatever they
have every day. People would feel like that's an
invasion of privacy, which it would be.
And so to be able to get those advantages with Bitcoin, you
have to do a little bit of work. You need to not keep your
Bitcoin on an exchange, first of all, and second, run a node and
then have all of your transactions and wallets be
connected to that for for transacting.
And so I think a lot of people have gotten better about this
over time. But even back in the day, a lot
of people would be like, well, I'll just run Electrum and I'll
connect to some public Electrum servers out there, but you're
losing a little bit of privacy when you do that.
And two, there have been issues in the past.
It was maybe six years ago now, but I mean, there was a an issue
where you could actually get tricked into losing funds by
relying on these public Electron servers.
And people thought that was safe because hey, it's, it's a
Bitcoin connection. You're not, you're not really
going through a third party sort of they, they didn't see it that
way. And so they realized that
malicious Electron servers could actually respond back with an
error code that said, hey, you're out of date.
Click here and go download a new version of Electron.
And people would click that link, but it was a bad link to a
malicious server. And so I think that, and that
was because of trusting public nodes, Electrum servers that
were out there, because you had been trusting them, they were
able to respond to you with bad, bad information and it tricked
people into downloading the, the infected wallet and people lost
funds because of it. So I think that just highlight,
it's been a long time since that issue, but it highlights the
importance of you want to know what you're running, you want to
understand the code you're running by going with, you know.
Your own node and you can look at what versions of code are on
there. You can audit it, you can go
look at what's running and really understand it and then
you know you're you're in control at that point, you're
not sort of just placing your trust in the hands of someone
else and you know you can be in a little bit more control beyond
that, other advantages are you can start running all kinds of
other really cool applications and I think that was a big
reason people started liking my node originally.
You, you got Bitcoin Core and you got Lightning, but beyond
that, there's so much stuff out there that people can do with
Bitcoin. There's, you know, 40-50
hundreds of apps at this point probably that you can run that
tie in really closely with your node.
They could be lightning wallets, they could be block explorers,
they could be all these other things that, you know, you can
run and I think people were interested in.
But early on, a lot of people in Bitcoin were, you know, computer
science engineers and they could go run it themselves.
But as Bitcoin started expanding to more and more people, the
advantages of all those apps were apparent to people who
weren't engineers. And so I think a big reason
people started getting into my note early on was because they
saw this value that they didn't want to go spend hours and days
and tons and tons of time tweaking all the settings and
installing and manually running every little app that they
wanted to run. And so you can just kind of get
it all in a package. And from there, you can kind of
find what your interests are. You can, you know, get into, I
don't know, like looking at block explorers or doing more
advanced things with lightning that that you might want to get
into. And so I think my, my node
provides just a fantastic platform for sort of being that
starting point and getting you into Bitcoin and getting you
into Bitcoin quickly so that you don't have to go spend, you
know, a couple years of learning about engineering before you can
really start getting into Bitcoin because your goal is to
get into Bitcoin. And so we wanted to make sure
that it was really easy for people to do Bitcoin stuff
without having to also be an engineer and understand computer
science and programming and how to set all this up.
And and so we wanted to provide that value to large groups of
people and make it as easy as possible.
Love it, love it. OK.
Taylor, can we talk on the idea that we were chatting about
before the show that you are kind of framing it like there's
levels to becoming a Bitcoiner and like taking those baby
steps. And maybe if you're just getting
in the Bitcoin, you probably don't want to run out and buy a
node right now. Maybe there's some baby steps to
go to that process. But the final stage is run your
own node, take Bitcoin into custody and all that good stuff.
So will you elaborate a little more?
Yeah, absolutely, absolutely. And so I think that a lot of
people get into Bitcoin and they just hear about it and they
might start doing a little bit of research.
And that's sort of what I consider the first level.
The the next level is when people sort of realize they want
to buy, they run off to an exchange and they go just click
buy and they have a little bit of Bitcoin and they're primarily
into it because they see, you know, the US dollar number and
it, you know, it's going up and it's increasing.
And that's sort of the second level.
People have Bitcoin, but it's on an exchange.
The third level is they realize, hey, like there are some real
advantages to Bitcoin behind the scenes that isn't just about
making more money. It's about sort of taking
control. It was what we were talking
about sort of in the last segment.
It's about taking control of your money and sort of it being
something that is really truly yours.
You're not relying on third parties.
It is your savings. And it can't be inflated away.
It can't be, you know, someone can't just go click a button and
print 10 million more Bitcoin one day.
And I think that's the situation most people live in with their
Fiat currency. They can be in a situation
where, you know, they're in a or in a country where they're
experiencing hyperinflation and it's just awful for the people
in that country. And so Bitcoin provides a really
good alternative for them to be able to save money.
And so people can can get that Bitcoin on an exchange.
But then I think the next level beyond that is really where you
start seeing the value and you can provide advantages in like I
think in Kathy Woods example, the what was it like?
They're sort of like other emerging market sort of
currencies. I think that was, that was kind
of the one I was talking about where it can really start
helping people in these like emerging markets.
But in a lot of those cases, they need to be able to have
control of their Bitcoin themselves.
Because in, in some of those countries, Bitcoin might not be
legal right now. And I've heard stories, you
know, of people, they'll start running a small minor and even
if it's making, you know, $0.50 a day or a dollar a day or
whatever it was five or six years ago, that's a lot more
money and a lot more purchasing power than they could be getting
with their Fiat currency while they're experiencing
hyperinflation. So, you know, Bitcoin is
providing alternatives, like real alternatives to people in a
lot of these emerging markets. And I think that's fantastic to
see. It's amazing to see what, what
Bitcoin is able to do in, in helping people that are
experiencing like financial problems.
And then right beyond that, though, once you have cold
storage or control of your Bitcoin, that's when you should
be interested in running a node because that's when it's going
to provide you advantages. If Bitcoin is on an exchange,
running a node isn't going to provide you any advantage.
But once you've taken control of it and you've started learning
about the fundamentals of Bitcoin and why there are these
underlying advantages, at that point, run a node, keep going
further, you know, down the rabbit hole and you know,
there's, there's a lot more to learn there.
There's a lot of apps and stuff that you can run and you know
you can continue learning. Love it, love it.
OK, Taylor, let's let's talk about my node in general.
So we did get a few questions in the chat.
One was, how long does it take to sync an Electrum Rust node on
this? And maybe you can talk about the
actual hardware that's on the Model 2.
And then someone asked, is my node fully Foss yet?
So there's a lot of stuff to unpack there, but take it where
you want. Yeah, sure.
So I'll start, I'll start with the products.
So we have two products right now.
We have the physical model 2. That's everything you need.
You'll get it shipped to you, you know, buy that and you'll be
up and running. Then we have a premium which
would be software only. And so you can buy minor premium
for $99. Right now we have a sale going
on, I think it's $15 off and it that goes through the rest of
the weekend. If you you'd have to click on
buy now and then you'll probably see the sale price.
But with the premium software you can buy, you can build your
own device. You can build it on whatever you
want. It can be a Raspberry Pi four or
Raspberry Pi five. You know an old laptop, you can
run it on a server, you can run it on APC.
There's a lot of flexibility in how you run it and you can get
started for free. You don't you don't have to
purchase the software if you want to try it out, download the
software, install it, get up and running, decide you like it and
then upgrade to premium to get access to support and get access
to a few extra additional apps that are, you know, within the
the software. But if if you're looking to just
get up and running as fast as you can, then, you know, buy the
model 2 and that you can plug it in and use your web browser on
your PC to access the interface and you'll be up and running
without having to go assemble everything yourself.
So those are kind of the two options there on fully Foss.
Not yet. Right now there's basically
still a restriction that you can't resell it, but other than
that, do what you want, but you can't take it and resell it as
effectively what the license is currently.
We've looked at changing that. We might change it.
We probably will at some point in the future, but as of right
now it's basically a do what you want except resell.
And then I think there was a question on how long it takes.
To yeah, yeah. So you can add that with, like
we were talking with Nico before the show, that it's no longer
running on a Raspberry Pi. You got a new Intel chip.
So what's that do for the specs of running the node?
And then how long does it take to sync a node?
Because someone in the chat's like man I'm I'm losing my hair
right now syncing another node. Yeah, So absolutely, that's a
that's a really good question. So I think there's a few
different sync stages. They're syncing just the
Electrum server part, which is a little faster than they're
syncing the whole Bitcoin blockchain, The Raspberry Pi 4,
which is still probably the most popular, but only because that
was around the longest. The most users are running
Raspberry Pi Four, I think is probably the way I should say
it. That probably takes like a week
now in an optimal network environment to sync.
It's not, it's not quick anymore.
So our hardware has shifted away from the Raspberry Pi.
We no longer sell Raspberry Pi 4 based device.
That was what we called the Model one.
Now we only sell the Model 2, which is an Intel based
platform. It's a lot faster.
I think it was about five times faster when we had measured it
and we're first releasing it and it can sync in about a day.
That does depend on your network, though, and sort of
the, the peers that you end up getting when you when you start
syncing. So if you sync over Tor, that
might go a little slower. If you have a really good
Internet connection and you sync over, you know, clear net, just
your normal like IP network, that will that can take about
like 24 to 36 hours. But again, it can depend on like
your, your network and how it's set up, but it's much, much
faster. And then in terms of syncing
Electron server, that sync happens after Bitcoin sync has
completed and it, it starts once you enable electron server.
And on a, a Raspberry Pi four, that would take like a, a a day
or two. Now I think would probably be
about the time I haven't tested recently, but on a faster like
the Intel based Model 2 we have, that should happen like probably
in a few hours. It's drastically faster on some
of the newer, more powerful hardware like the Model 2 that
we sell. Love it, absolutely love it.
Someone in the chat was saying they asked about the team and
and I told him in the chat, it's basically just you and they're
like, he deserves a Bitcoin for this.
So kudos to you bro. And then for for the audience, I
always are rather sorry for our guest.
I always ask you, what's the last two sets you want to leave
for the audience? What's the last message?
You could be about running a node, It could be a life.
Bitcoin in general. What's the last message you want
to leave? Well, I would say, you know, buy
Bitcoin, move it to cold storage and run a node.
Bars, Bars. Couldn't agree more.
Yeah, man.
Anyways. Already got Friday we got to.
Get to the meme review we're going to.
Do it in 6 minutes we'll do it in 6 minutes.
Let's we're going to do 5 minute meme review bro it's click it's.
Click What do we OK, All right. Relate to the meeting that is
Opti's fault. That is not my fault.
All right, everybody, this is Opti's Friday meme review.
Let's check it out here. We.
Go Opti's Friday meme review. They can wait on us at the
meeting. All right, guys, you already
know that. Oh, Nico, left, left to go to
the meeting. OK.
All right. I'm here.
I'm here, OK. All right, guys, you already
know the deal. This is the Friday meme review.
You guys ask about it every Friday.
You yell at me when I don't get it on the show because we're
running along and we got other things going on besides the live
show, but you already know the deal.
Tweet to the bullets. Memes are the artillery.
You guys are frontline soldiers in the trillion dollar psyop
campaign against the truth. So continue to propagate the
memes, continue to spread the truth, continue to get the cause
of action out there. And then, of course, continue to
ridicule the corporate press, the politicians, the central
bankers and their ilk. And of course, if you're new
here, guys, we're going to review the memes.
And then once we review them, drop your meme review score in
the chat. We'll read a couple of them as
we wrap up the show. OK, so first one is by Bitstack
P and it goes, it is on hashtag Bitcoin.
And you can see we got a boxing match here.
And we got a Bitcoiner on the left with the Bitcoin gloves and
we got The Dirty Fiat system on the right with the green
stroller logo on the gloves, orange versus green guys.
And someone in the chat corrected me on on the meme.
It's it's not red versus blue. It's the state and it hates you.
That's the real meme. OK, this next one is by
excelion, AKA Sampson Mount. He goes available capital verse
available capital. And I absolutely love this
because I'm going to follow it up with another meme that's
really great. So you can see, you know,
available Bitcoin here is a little small black triangle
here. And we have the Bitcoin market
and then we have the available capital in all of the markets
needing to funnel into Bitcoin in the available Bitcoin on the
exchanges and soon to be mine Bitcoin, as we say here all the
time, there may not be enough Bitcoin at this price because
we're not going to sell, but hey, the price goes up.
People are going to be incentivized to sell anyways.
Next meme is by James Lavish. And I think this is a good
visual of what's going on right now.
We have, you know, this is the sun with what's this like a is
this a planet or a little, little sunspot here?
And it goes institutions, which is the institutional demand and
then Bitcoin shorts. And as you can tell, it is no
match for the institutional demand.
OK, next one. We've been talking about this
one on today's show, which, you know, sometimes I'm like a
wizard when it comes to these memes.
I just picked the right ones. We got AKA at BBC breakdown on
Twitter. And he goes, there are two kinds
of people, someone that is drowning in the Fiat system and
then us bit corners that are just floating on top, living a
good life, enjoying life, you know, meaning eating good,
getting fit, all that good stuff.
So next one is by Sly Goomba on Twitter.
And I I love this one. I'm sure you guys are seeing
variations of this this one on Twitter recently.
I don't even know where the meme originally comes from, but I'm
seeing a lot of them recently and Bitcoin.
I just go silent fiatist. A bitcoiner is talking.
I'm sure this is how we feel every weekend when they're like,
hey, did you guys? Did you guys catch the game last
night? Hey, that's cool bro, but like,
did you did you see the news about ex celebrity?
Anyways, next meme is by at huddle XX hold.
And this is for all the newbies out there.
Do not get sideswiped by the shit coin influencer.
So we got a fresh and army another girl.
She's smiling while while the guy is on a playing the guitar.
He's he's serenading her and this guy's a shit coin
influencer and zooming in. He's not doesn't even know how
to play the guitar. OK, this is exactly what's
happening. If you're listening to the shit
coin influencers. And this next one shows the best
knock. He's in the chat.
He he's he's like, yo, I need to get my meme on the show.
So anyways, he goes meme for my mestizo at Hottamish field and
he's got some screenshots of my tweets here and it goes fake
money goddess here. You cannot reason with the
ideologically insane. And then we have Niko here.
Looking back, what you're seeing is information narrative trench
warfare and me right here with the opti hat.
Let's go, let's go and this last one is by M in our telegram
group. And I don't know where this came
from, but you know, anytime I get a chance to roast Niko on
the show, you know, I take it. So we got before Bitcoin and
this guy kind of looks like Niko.
I I don't know who this guy is to be honest, but it shoves out
the UM and then after Bitcoin it is Nico long hair with a beard
looking all disheveled. Okay, all right, all right
anyways, guys, drop your meme review score in the chat as we
cover ours live and we will review them on that note, Nico
is back. All right, all right, I'm going
to give it my one of one anti Fiat money club, which I think
shirt which I think I'm going to re redesign and I want to change
it to anti Fiat money gang, but I'm these these are just for me.
So sorry guys, I'm going to. Give it a big point.
Well, hat that's my score. OK, OK.
Taylor, give those memes. I think I'm running down on the
score. The score is a meme in itself.
Or you can do a throwback one through 10 what whatever you
want to do. On all of them overall or?
You know, oh, you can pick one, it doesn't matter.
Oh man, I don't know. They were good.
I don't know, eight. I I love the available Capital
One. I I don't know, it just yeah,
like a really cool perspective. That one was like, yeah, nice.
Like I, I want. To scored solid score OG score.
I like OG score. All right, everybody drop your
meme score in the live chat and if we if we have time, we'll
get. Through it, we'll get to it.
So I do want to pull up the first one by Rich BC the amount
of Friday meetings Opti cancelled without Nico knowing.
That's a great score Opti Bustardo poor son of dad.
Opti fields one Bitcoin for Taylor 69 knacks for Opti very
good Soshi Satoshi. My meme score is a Russian
submarine off the coast of Florida and the American US the
US Air Force parading around our tax dollars in response.
Shooting at the submarine. This no memes score petition to
make Nico embark on a on a on a lock journey.
Matthew Ji give the memes one simply Bitcoin hat that lowered
my time preference for finally having one SpongeBob
SquarePants. I give the memes 10 Bitonomics
next one. Phil CI give the memes one
Bitcoin stable coin and we got Planet Earth.
I give the memes Orange Man for the orange coin.
Lightning Goats. I give the meme a review of a
handful of goat pellets. Very good score Elaine.
When Nico stops memes, Opti comes apart at the seams.
Opti is our meme protector for all Who would be a Bitcoin
protector. Memes live on.
Simply OK. Let me see.
Let's let's do. Hunter gun.
Yeah, yeah, that. That's why.
All right, we're going to rumble here and we got Narwhal tacos.
And he goes. I give those memes my samurai
node, which is a lifeless break right now.
Bullish, bullish. All right everybody, that was
simply Bitcoin live for June 14th, 2024.
Hope everyone has an amazing weekend.
Make sure to smash the like button consider subscribing.
I'm your host, Nico, as my legendary Co host Optimus Fields
and our guest for today, Taylor, and we'll be back on Monday for
another episode of Simply Bitcoin Live.
Peace out, everybody. This episode was brought to you
by bitcoinwell.com on a mission to enable independence.