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Welcome back everyone. 
We're simply Bitcoin. 

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We break down the news. 
The daily fail mean review. 

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Software releases Hardware, 
releases, and the pleb sites. 

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Joining us today fellow Bitcoin 
or fellow pleb. 

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We know him from Bitcoin 
kindergarten, but he's since 

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left us and become a superstar. 
That's right. 

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I'm talking about Jess Taffer. 
He is the co-founder of am boss 

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dot space gesture. 
For what's up, you guys. 

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Great to see you guys again. 
Awesome, man. 

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Thank you so much for joining 
us. 

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We are diving into the numbers 
Nico. 

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Let's do it number time. 
Number time is brought to you 

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by. 
Not all they make some of the 

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best Bitcoin notes like the 
novel Dojo, it's in red. 

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That means it's faster. 
Run your own version of Bitcoin 

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core and the lightning Network, 
all in the comfort of your own 

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home. 
Remember guys, if you don't run 

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your own Bitcoin node, you're 
trusting someone else's. 

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That's a big no snow no for 
privacy. 

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So get yourself a novel today. 
Time of this recording. 

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The block height is 730. 5665 
the Bitcoin price 30 1010 chain 

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rewrite day 727, total, public 
lightning capacity, 3760 5.11, 

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BTC, Moscow time, 3223. 
Oh my gosh, that is a cool set 

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of numbers. 
Anyways, blocks to The Happening

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104,000 335 and the samurai 
whirlpool Spent capacity Samurai

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Whirlpool is a coin joint or 
collaborative spend. 

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That is not a mixing service and
the unspent capacity of that 

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pool is 4624 dot 68 Nico there 
is blood in the streets and 

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these are the numbers 
metaphorical blood in the 

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streets and these are the 
numbers metaphorical blood in 

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the streets and we got a lot of 
messages. 

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A lot of people freaking out a 
lot of pressure and people are 

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asking why is the price going 
down? 

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You guys know the drill we don't
we don't speculate on this 

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channel. 
We're not going to tell you. 

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But what I will tell you right 
is that the fundamentals of 

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Bitcoin have never been 
stronger? 

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Let me make my case and then 
we'll all talk about this, 

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right? 
Yeah, I need some help yumiko. 

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I mean this isn't really hooked 
me up like this is really do 

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anything that anything that 
anything that shows us why? 

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Why this is good. 
Okay, there's nothing wrong with

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her. 
Oh okay, alright so this is um 

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is good. 
This is this is fact-based 

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opium. 
This isn't any chain analysis 

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based opium. 
Okay. 

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Hey, this isn't some ta based 
opium. 

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This is actual hope you and that
you can confirm on your own. 

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This is just information data. 
So this is Bitcoin. 

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Archive plebs are stacking hard,
right? 

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This is the amount of distinct 
entities, right? 

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That have you know different 
Bitcoin at how much Bitcoin is 

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not address. 
So the amount of Bitcoin 

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addresses is basically going 
parabolic, right? 

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The plebs are stacking hard 
addresses with .001. 

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They've never been higher and it
continues to go higher and 

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higher. 
Right. 

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So that's a really, really good 
sign. 

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I think that's an indication of 
the growth of the network. 

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Let's take a look at the amount 
of Bitcoin notes. 

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Again, in my opinion, I don't 
think that the price is 

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important and fundamentals. 
What I look at is the hash rate,

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the hash rate represents the 
amount of computational power 

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that's actively mining Bitcoin. 
Therefore it's theoretically 

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harder to attack computationally
and the more Bitcoin nodes the 

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more decentralized it is right 
and again this is also at an 

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all-time high, right? 
Let me move on to the next one. 

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This is the Bitcoin hash rate. 
What I talked about earlier here

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is the, the famous China banned 
right at the peak of the China 

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band, that was an all-time high.
We were at 191 x, a hashes that 

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caused the crash in the hash 
rate, which in my opinion also 

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brought down the price. 
We crash down to 69, exit 

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hatches. 
And today we are at 220 EXA 

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hashes, estimated, there's no 
way to know the actual hash 

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rate. 
It's just an estimation, 

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everyone estimates a different 
But according to this website, 

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it's a 217 exit. 
Hatch has to be specific and 

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here is the log scale, right? 
And this website is awesome 

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because it puts a little, you 
know, a little rainbow color to 

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it and it's really funny how 
they put the stuff right and 

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different colors, right? 
At 34k, you should accumulate 

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the thing below that is that 26k
you should buy. 

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And at 20K is basically a fire 
cell also known as sell your 

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kidney, right? 
So very good again if you You 

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actually look at the 
fundamentals, the fundamentals 

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of Bitcoin have never been 
stronger. 

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I don't know where the bottom 
is, Phil and I were talking 

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about this off camera because 
we're bitcoiners and that's we 

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do. 
But again, if you, if you pay 

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attention to the signal, Bitcoin
is a lot stronger today than it 

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was a year ago. 
Remember, in the last year 

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really last year year-and-a-half
Bitcoin became legal tender and 

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two countries. 
Central African Republic El 

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Salvador. 
Also in my opinion, became 

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better than legal tender and the
country of Panama, right? 

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Also you have come public 
companies, openly saying that 

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it's a better alternative to 
cash, like Tesla like 

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microstrategy, right? 
So again if you look at the 

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actual signal and my opinion the
fundamentals of Bitcoin I've 

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never been stronger but like 
Phil was saying before the show 

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sometimes the price does. 
Don't reflect the fundamentals, 

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especially if you kind of get 
into this Mania phase and people

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are kind of freaking out because
the FED is raising rates. 

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Everyone's scared man, and I 
think that the The recent price 

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action right now. 
I think indicates that Phil. 

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What are your thoughts when fire
sale? 

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This is this is what I want to 
know. 

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I'm, I'm looking for the fire 
sale. 

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See that that's terrible, right?
That that some of us think like 

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that but certain bitcoiners will
appreciate that that line of 

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thought because guess what, we 
always want to stack and why not

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get Bitcoin a little bit cheaper
now to continue on what you were

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saying about some of the 
conversation that we were having

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before the show? 
This is exactly right. 

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Right now, we're getting a lot 
of Getting signaling from the 

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FED that they're going to raise 
interest rates. 

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We're seeing that, you know, 
essentially all of the money 

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printing from from the virus 
which shall not be named for the

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two years that we never had. 
All of these elements are coming

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to fruition right now and people
are starting to get really 

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worried, you're hearing some 
news that. 

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Yeah, there's a lot of 
employment out there, but then 

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if you speak to specific people,
it turns out that it's a whole 

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bunch of jobs that people don't 
really want. 

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So that's not really, you know 
what I mean? 

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The It will tout. 
Oh yeah. 

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You know, the Employments, you 
know that there's lots of jobs 

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out there but at the end of the 
day this is a lot of work that 

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people don't want to do. 
Now what does this all have to 

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do with Bitcoin? 
Actually it has absolutely 

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nothing to do with Bitcoin, 
okay? 

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Because Bitcoin network is going
to do whatever the Bitcoin 

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network does. 
But we are all humans, we're all

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emotional and not everybody is 
going to think the same way. 

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So when you start to see the 
markets turning red, I mean, 

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look, if you look at the Dow 
Jones, you can see that we've 

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had quite a few down days and, 
you know, once people start to 

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That they start to think 
recession. 

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Once you start to think 
recession you start to think I 

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need to hold my capital and then
people right away immediately 

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what they do is they quote 
unquote. 

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So start selling their assets 
and they start getting afraid. 

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But guess what people that are 
selling Bitcoin to hold cash, 

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the government's printing it. 
So yeah, it's like we're losing 

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on like to me. 
I'd rather just move Bitcoin. 

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Anyways, that's my logic behind 
it. 

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So even though it sucks, even 
though it's super painful, you 

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know what bear markets is where,
All the building gets done, 

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right as just a fur was saying 
before the show, this is where 

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the building gets done. 
And this is where the, you know,

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the hardened skin, right? 
The hardened layers of skin are 

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made and the hod lers are born. 
Absolutely. 

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This is where this is where it's
the best. 

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It's the, it's the scariest time
to stack, right? 

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But it's also the best 
opportunity. 

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It presents the best opportunity
especially when there's blood on

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the streets when people are 
fearful right. 

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Feel we've been doing this for 
six years now, roughly six 

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years. 
This is, if you look back every 

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single time you get this type of
energy, this type of fear is it 

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was the best opportunities every
single time. 

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The taught the last time. 
I remember it. 

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I don't think it's I don't think
it's this bad yet, was when 

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Bitcoin fell from 6000 had a 
flash crash to 3000 3500 3400. 

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People were calling for 1K 
Bitcoin. 

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Right? 
Of course that's not what 

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Bitcoin did Bitcoin just zoomed 
up, right? 

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So anyways, let's See what 
happens. 

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Gesture for, what are your 
thoughts? 

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Woman thinking back to 2018, 
when we had that flash crash 

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that you were talking about like
that was the scariest time. 

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But that was also the time that 
I had like actually put in the 

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work to understand Bitcoin and 
what it is that I was holding 

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and figure out. 
OK twice L do I sell and then 

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everything that I found out was 
telling me no like no don't sell

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because this is the most stable 
thing out there. 

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The protocol is is strong and 
the price. 

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Really He doesn't matter for any
of the effects of Bitcoin, so 

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it's a bear market, so keep 
building. 

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And then when it's time for bull
market will be ready to scale 

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and scale rapidly. 
Amen. 

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I could not have said it better 
myself. 

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Patil stack hard. 
If your class of twenty of 

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twenty Twenty-One of 2020, 
right? 

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00:09:25,700 --> 00:09:28,300
Like sailor Sailors, new to 
this, right? 

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Yeah that you're earning your 
stripes right? 

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Everyone pays a price. 
Ice specifically in the first 

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cycle but anyways, Phil it's 
time for the daily fail brought 

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to you by Swan.com, check them 
out Swan Bitcoin, it is the best

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00:09:44,400 --> 00:09:50,800
place to Stacks at DCA. 
You could d.c. a daily weekly 

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00:09:50,800 --> 00:09:53,900
monthly. 
It's a stacking app by fellow 

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00:09:53,900 --> 00:09:57,400
plebs and they're gonna have a 
nap soon which makes stacking 

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even easier. 
Anyways, the link is down below.

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We've got to fails the first 21 
is some some eat garbage that I 

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picked up today and the next one
has to do with. 

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I think a person that probably 
doesn't want to be a cheerleader

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for Bitcoin but just, you know, 
by virtue of not being able to 

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shut up about it in a bad way 
has exposed so many people to 

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bitcoin. 
I'm talking about, no real, 

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that's right. 
We're going to dive into what 

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he's been up to, right? 
He's been quiet. 

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It seems anyways. 
Alright, let's take a look at 

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this. 
Here's why the first story a 

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theory? 
IAM. 

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Here's why a theorem to staking 
is risky and increases 

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centralization. 
Since 2009 Bitcoin, validators 

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have relied on simple proof of 
work to verify that a minor 

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00:10:41,900 --> 00:10:45,200
deserves the coinbase reward 
payable, every 10 minutes to The

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Miner who properly, hash is a 
block of valid transactions, the

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coinbase is an enviable 6.25 
BTC. 

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These rewards are associated 
transaction fees, paid over, 

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fifteen billion dollars to 
bitcoin miners over the past 12 

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00:10:59,900 --> 00:11:02,100
months, talk about incentives to
mine Bitcoin, right? 

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00:11:02,200 --> 00:11:07,200
The largest security budget of 
any Block Chain in the world, 

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that is some good signal right 
there because yes, indeed, the 

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00:11:11,200 --> 00:11:13,400
Bitcoin. 
Blockchain is the most secure. 

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00:11:13,400 --> 00:11:15,700
That's why we're storing our 
value in it. 

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That's one of the reasons, 
besides the censorship, 

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resistant properties. 
Anyways, let's continue. 

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00:11:19,408 --> 00:11:24,000
This is also part of the signal,
any common laptop, PC or micro 

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00:11:24,000 --> 00:11:27,800
computer can run a full Bitcoin 
node and validate all 

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00:11:27,800 --> 00:11:29,300
transactions using 
proof-of-work. 

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00:11:29,300 --> 00:11:34,000
The cheap cost of operating a 
Fully validating node has 

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00:11:34,000 --> 00:11:36,600
decentralized. 
Hundreds of thousands of Bitcoin

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00:11:36,600 --> 00:11:40,600
nodes across the globe over 
15,000 of which are online at 

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any moment. 
Okay, I personally I can verify 

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that number but I'll take it. 
But the key to this was that any

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00:11:46,900 --> 00:11:51,100
common laptop or PC can validate
transactions. 

229
00:11:51,500 --> 00:11:54,800
Okay, now we're going to enter 
eith 2.0. 

230
00:11:54,800 --> 00:12:00,800
Those ideas e 2.0 will reduce 
Mining and transition to proof 

231
00:12:00,800 --> 00:12:03,600
of stake. 
Bright as we've been making fun 

232
00:12:03,600 --> 00:12:06,700
of for many months and that they
haven't been able to do in six 

233
00:12:06,700 --> 00:12:09,300
years. 
How much does it cost to 

234
00:12:09,300 --> 00:12:14,400
activate a set of validator keys
in aetherium to the answer is a 

235
00:12:14,408 --> 00:12:19,400
staggering 32 eith, 80,000 
dollar some that excludes 

236
00:12:19,400 --> 00:12:23,000
billions of people from any hope
of ever becoming a validator. 

237
00:12:23,000 --> 00:12:25,800
That's right. 
That on in their staking 

238
00:12:25,800 --> 00:12:30,200
protocol, which is inclusive and
ultrasound money for everyone. 

239
00:12:30,200 --> 00:12:32,000
Apparently not. 
Everyone is going to be able to 

240
00:12:32,200 --> 00:12:35,500
Validate their own transactions.
Because only the wealthy could 

241
00:12:35,500 --> 00:12:37,700
afford to participate in a 
theorem to as an independent, 

242
00:12:37,700 --> 00:12:41,300
validator everyday, users must 
pull their funds together and 

243
00:12:41,300 --> 00:12:46,100
delegate their votes there for 
introducing centralization. 

244
00:12:46,400 --> 00:12:47,500
Okay? 
So look. 

245
00:12:47,800 --> 00:12:51,800
So I put out a tweet about this 
today that one of our fellow 

246
00:12:51,800 --> 00:12:57,500
viewers responded on and you 
know, their point I'm not going 

247
00:12:57,500 --> 00:12:59,700
to bring up their tweet or 
anything like that because you 

248
00:12:59,708 --> 00:13:01,900
know, maybe they don't want to 
have their tweet up and they do 

249
00:13:01,900 --> 00:13:05,800
you No, they do watch the show. 
So but for me it was more about 

250
00:13:05,800 --> 00:13:08,700
the fact that like look that 
their point was, if you bought 

251
00:13:08,700 --> 00:13:13,000
Etha two dollars, it only costs 
you $64 to be a validating node,

252
00:13:13,100 --> 00:13:15,400
okay. 
I don't disagree with you about 

253
00:13:15,400 --> 00:13:18,700
that point. 
But the point is today, if you 

254
00:13:18,700 --> 00:13:21,600
decided that you wanted to 
partake in this shit coin 

255
00:13:21,600 --> 00:13:25,700
ecosystem, you'd have to spend 
80 grand to validate your own 

256
00:13:25,700 --> 00:13:28,700
transactions. 
Bitcoin back in 2010. 

257
00:13:29,200 --> 00:13:33,000
You were able to install the 
Bitcoin core software in He 22, 

258
00:13:33,300 --> 00:13:38,000
we can install the Bitcoin core 
software same price, same price 

259
00:13:38,000 --> 00:13:42,000
to validate exact same price, 
very low barrier to entry. 

260
00:13:42,300 --> 00:13:44,700
Anyways, soup. 
Beef, are you still need 

261
00:13:45,000 --> 00:13:48,100
specific Hardware in order to 
run the Bitcoin software 

262
00:13:48,100 --> 00:13:50,300
download the chain to roughly 
around? 

263
00:13:50,300 --> 00:13:52,500
$300? 
$300, if you want to do it, 

264
00:13:52,500 --> 00:13:58,100
cheaper to build a very cheap, 
you know, Bitcoin node and 

265
00:13:58,100 --> 00:14:00,400
compare that to the eighty 
thousand dollar barrier to 

266
00:14:00,400 --> 00:14:02,000
entry. 
It's a very big. 

267
00:14:02,100 --> 00:14:04,500
Big difference, right? 
And that was a, that was one of 

268
00:14:04,500 --> 00:14:07,900
the that was very contentious 
issue in the four cores, right? 

269
00:14:07,900 --> 00:14:10,800
Because if they would have 
increased, the block size, it 

270
00:14:10,800 --> 00:14:13,100
would have increased the 
hardware requirement. 

271
00:14:13,200 --> 00:14:15,600
Right? 
So, the reason, the block stayed

272
00:14:15,600 --> 00:14:17,400
the same or a big reason, the 
block stayed. 

273
00:14:17,400 --> 00:14:20,800
The same is so that the barrier 
of Entry could stay lower and 

274
00:14:20,800 --> 00:14:22,800
therefore decentralization, 
right? 

275
00:14:22,900 --> 00:14:25,500
Which is that these guys never 
tell you this because it's not 

276
00:14:25,500 --> 00:14:27,100
convenient to them and their 
narrative. 

277
00:14:27,100 --> 00:14:30,100
Anyways just to for what are 
your thoughts on this fail? 

278
00:14:33,000 --> 00:14:35,400
I think he's muted, he's 
processing. 

279
00:14:35,400 --> 00:14:36,500
He works in life, he's 
cross-eyed. 

280
00:14:36,500 --> 00:14:41,600
Okay. 
I like yeah we've made specific 

281
00:14:41,600 --> 00:14:45,800
decisions just to just to make 
it easy to participate in 

282
00:14:45,900 --> 00:14:51,700
Bitcoin, by setting a barrier to
entry, a barrier to a vote in 

283
00:14:51,700 --> 00:14:56,600
the East Network at eighty 
thousand dollars that's out of 

284
00:14:56,900 --> 00:14:59,600
out of most people's annual 
salary. 

285
00:14:59,600 --> 00:15:04,000
So like yeah, forget about 
actually participating or having

286
00:15:04,000 --> 00:15:07,900
a vote in an ecosystem that 
operates on proof of stake. 

287
00:15:07,900 --> 00:15:12,800
And And having such a high 
threshold where I mean Bitcoin 

288
00:15:12,800 --> 00:15:17,500
is not like that at all. 
It's open to anyone with a with 

289
00:15:17,500 --> 00:15:21,500
an internet connection. 
Absolutely. 

290
00:15:21,600 --> 00:15:25,200
No, it's 100% true. 
That is that is the beauty of 

291
00:15:25,200 --> 00:15:26,500
Bitcoin. 
Anyways. 

292
00:15:26,500 --> 00:15:29,800
Fill the next fail is a steaming
pile of shit. 

293
00:15:29,800 --> 00:15:31,500
Why don't you get to it? 
It is. 

294
00:15:31,500 --> 00:15:34,700
Okay. 
The hook the hypocrisy is just 

295
00:15:34,700 --> 00:15:37,700
it's fascinating, but but first 
we got we got to build it up, 

296
00:15:37,700 --> 00:15:39,100
right? 
We got it, we got a little. 

297
00:15:39,100 --> 00:15:41,200
Let this simmer because we need 
people to. 

298
00:15:41,200 --> 00:15:44,600
There's a lot of people who may 
not know who knew real is, and 

299
00:15:44,600 --> 00:15:47,200
how much of a fan he is of 
Bitcoin. 

300
00:15:47,600 --> 00:15:48,800
So we just need to remind 
people. 

301
00:15:48,800 --> 00:15:50,300
So let's take a look at some 
tweets. 

302
00:15:50,500 --> 00:15:53,300
Late 2017. 
The bear case for Bitcoin and 

303
00:15:53,300 --> 00:15:56,900
blockchain from an Insider in 
the industry who has invested in

304
00:15:56,900 --> 00:16:02,200
both right back in 2017 again, 
December 22nd today, Bitcoin 

305
00:16:02,200 --> 00:16:05,600
plunging 30% and turning into a 
shit coin. 

306
00:16:07,300 --> 00:16:12,900
All right, comparing Bitcoin 
Mania with tulip Mania. 

307
00:16:13,100 --> 00:16:18,400
The Bitcoin bubble is much 
bigger. 2017. 

308
00:16:18,400 --> 00:16:21,700
So you can see, right? 
He's he's he's hated Bitcoin for

309
00:16:21,700 --> 00:16:24,500
at least five years minimum five
years. 

310
00:16:24,900 --> 00:16:29,100
All right. 
So let's let's continue on more 

311
00:16:29,100 --> 00:16:33,500
of more of new reals hate 
towards Bit Coin and crypto 

312
00:16:33,900 --> 00:16:37,700
designed to avoid regulation the
real roots of Bitcoin. 

313
00:16:37,900 --> 00:16:42,400
No, it has to do with separating
money from State and having a 

314
00:16:42,400 --> 00:16:46,400
censorship resistant Ledger, 
that is public. 

315
00:16:46,800 --> 00:16:49,600
Okay? 
So well, technically, okay, 

316
00:16:49,600 --> 00:16:51,200
we'll play Devil's Advocate. 
Yeah. 

317
00:16:51,200 --> 00:16:55,800
Yeah we'll play Devil's Advocate
but in their perspective that 

318
00:16:55,800 --> 00:16:59,800
sounds like avoiding regulation 
but again it's the details in 

319
00:16:59,800 --> 00:17:02,600
the Nuance, right? 
Yes it's not that, it's it. 

320
00:17:02,900 --> 00:17:06,200
It's just it's it. 
You can't have a political money

321
00:17:06,500 --> 00:17:09,900
if you regulate if you regulate 
it, it turns it into the system 

322
00:17:09,900 --> 00:17:12,300
that we have today. 
And that's the argument that 

323
00:17:12,300 --> 00:17:14,700
bitcoiners make. 
And now here's another argument,

324
00:17:14,700 --> 00:17:16,700
right? 
What are the, what have what is 

325
00:17:16,700 --> 00:17:18,800
the? 
Both of these regulations, write

326
00:17:18,800 --> 00:17:22,400
the result of these regulations 
is that half the planet right? 

327
00:17:22,400 --> 00:17:25,700
Roughly half the plan, it is 
deemed on bankable because of 

328
00:17:25,700 --> 00:17:27,800
the place that they happen to be
born it. 

329
00:17:27,900 --> 00:17:30,900
So what are the what are the 
regulations? 

330
00:17:30,900 --> 00:17:35,300
So called regulations that 
roubini is advocating for the 

331
00:17:35,300 --> 00:17:37,700
Russian people. 
By the way, have nothing to do 

332
00:17:37,700 --> 00:17:40,600
with their government. 
They got punished by the West 

333
00:17:40,600 --> 00:17:43,000
because of the country, they 
happen to be born in the 

334
00:17:43,000 --> 00:17:45,000
Ukrainian. 
People also got cut off from the

335
00:17:45,000 --> 00:17:47,100
financial system. 
Venezuelan people. 

336
00:17:47,400 --> 00:17:50,600
Ben people Afghanistan, people, 
you get where I'm going with 

337
00:17:50,600 --> 00:17:52,700
this. 
So yeah, the question, the 

338
00:17:52,700 --> 00:17:56,100
question that I have for you 
guys is that current regulation 

339
00:17:56,200 --> 00:17:59,300
whereas in a group of elite 
bureaucrats also known as 

340
00:17:59,300 --> 00:18:04,200
politicians have the power to 
control who gets to use money or

341
00:18:04,200 --> 00:18:05,900
not. 
That's the question that I want 

342
00:18:05,900 --> 00:18:09,000
to leave to you guys. 
Someone like nearby roubini to 

343
00:18:09,000 --> 00:18:13,600
use, Alex gladstein Zone worlds,
he has Financial privilege. 

344
00:18:13,900 --> 00:18:16,200
But if you talk to a Cuban, 
right? 

345
00:18:16,300 --> 00:18:18,900
That's using Owing to survive, 
right? 

346
00:18:18,900 --> 00:18:20,700
They're going to tell you a 
whole different story. 

347
00:18:21,000 --> 00:18:24,800
I think that no one, no human 
being should have the power to 

348
00:18:24,800 --> 00:18:27,800
decide who gets to use money and
who doesn't? 

349
00:18:28,500 --> 00:18:30,100
Yep. 
Absolutely agreed. 

350
00:18:30,500 --> 00:18:35,800
Okay, so this is 20 21. 
Okay, does Bitcoin is designed 

351
00:18:35,800 --> 00:18:38,500
to avoid regulation. 
Let's move on, here we go. 

352
00:18:38,900 --> 00:18:42,200
This is 2018. 
Bitcoin is the biggest bubble 

353
00:18:42,200 --> 00:18:46,700
and bust in history. 
Biggest as up, 60 x, from three 

354
00:18:46,700 --> 00:18:49,200
years before The peak NASDAQ was
only for X. 

355
00:18:49,200 --> 00:18:51,600
So, tiny bubble versus BTC. 
Okay? 

356
00:18:51,600 --> 00:18:56,100
So you can see right here 
Bitcoin to him is just terrible,

357
00:18:56,400 --> 00:18:58,600
okay, it's just an awful awful 
thing. 

358
00:18:58,600 --> 00:19:02,000
Here we go. 
This is a article that he wrote 

359
00:19:02,000 --> 00:19:05,800
in 2019. 
The great crypto, Heist 

360
00:19:06,000 --> 00:19:09,400
cryptocurrencies have given rise
to an entire new Criminal 

361
00:19:09,400 --> 00:19:12,100
industry brand new. 
It's a whole new Criminal 

362
00:19:12,100 --> 00:19:14,100
industry, right? 
That's what it is. 

363
00:19:14,600 --> 00:19:17,200
They're not doing the same old 
crimes to do. 

364
00:19:17,300 --> 00:19:21,400
Doing brand new crimes, right? 
Drugs is this new thing? 

365
00:19:21,800 --> 00:19:24,600
Okay this is crazy new thing 
that nobody's ever done right 

366
00:19:24,600 --> 00:19:29,600
buying buying things. 
Illegally is new, it's just so 

367
00:19:29,600 --> 00:19:32,700
ridiculous. 
Anyways comprar comprising 

368
00:19:32,700 --> 00:19:35,700
unregulated offshore exchanges 
paid propagandist because we 

369
00:19:35,700 --> 00:19:38,200
don't have paid propagandists in
the Fiat system. 

370
00:19:38,300 --> 00:19:41,500
Never seen a paid product and 
this inner life anyways and an 

371
00:19:41,500 --> 00:19:44,200
army of scammers looking to 
fleece retail investors. 

372
00:19:44,200 --> 00:19:47,200
You mean like Wall Street 
fleecing investors? 

373
00:19:47,400 --> 00:19:50,700
During 42,000 age, mortgage 
crisis different, dude, because 

374
00:19:50,700 --> 00:19:54,400
it look if you're an elite, it's
not fleecing, right? 

375
00:19:54,400 --> 00:19:57,300
It's just you just you just a 
good Trader, you're just, you're

376
00:19:57,300 --> 00:20:00,300
just good at what you do, but if
you're a peasant, right, trying 

377
00:20:00,300 --> 00:20:03,100
to, by GameStop or whatever and 
the hedge funds kind of, you 

378
00:20:03,100 --> 00:20:06,400
know, screw you over, right? 
That's not allowed, right? 

379
00:20:06,500 --> 00:20:09,300
And this is why Bitcoin pisses 
them off so much is because it 

380
00:20:09,300 --> 00:20:11,500
puts everyone on a Level Playing
Field. 

381
00:20:11,600 --> 00:20:14,600
And that's what they mean by 
fleecing if they're not doing 

382
00:20:14,600 --> 00:20:18,000
the fleecing that's a problem. 
That's right. 

383
00:20:18,100 --> 00:20:22,300
So we can clearly see you. 
Worry, L, hates Bitcoin hates 

384
00:20:22,300 --> 00:20:23,900
crypto. 
It's a scam. 

385
00:20:24,200 --> 00:20:27,700
It's a scam. 
Crypto critics you real roubini 

386
00:20:27,700 --> 00:20:30,500
is working on a tokenized dollar
replacement. 

387
00:20:30,500 --> 00:20:33,600
Oh my gosh, no way. 
We're surprised were surprised 

388
00:20:33,900 --> 00:20:36,900
nouriel, roubini a blockchain 
Basher who famously called 

389
00:20:36,900 --> 00:20:38,700
Bitcoin. 
The mother of all bubbles is 

390
00:20:38,700 --> 00:20:41,500
working to develop a suite of 
financial products, including a 

391
00:20:41,500 --> 00:20:47,100
tokenized asset intended to act 
as a more resilient Dollar in 

392
00:20:47,100 --> 00:20:51,400
the Piece of higher inflation, 
climate change and civil unrest.

393
00:20:51,400 --> 00:20:55,900
That's right, again, his shit 
coin is going to fix climate 

394
00:20:55,900 --> 00:20:58,500
change. 
I gotta tell you, I gotta tell 

395
00:20:58,500 --> 00:21:00,800
you, I mean, don't get me wrong.
Like I threw a whole bunch of 

396
00:21:00,800 --> 00:21:03,700
dollars out the window, 
literally just out the window. 

397
00:21:04,200 --> 00:21:06,900
The climate did not change not 
even for a second. 

398
00:21:06,900 --> 00:21:08,100
I think I threw a whole bunch of
money. 

399
00:21:08,100 --> 00:21:10,100
It did not fix the climate. 
I you sure. 

400
00:21:10,100 --> 00:21:13,800
Dude, it's really sure I dropped
out dollars outside just to make

401
00:21:13,800 --> 00:21:15,100
sure it rains that day or 
something. 

402
00:21:15,100 --> 00:21:17,100
If I don't want it to rain I 
don't take a dollar out. 

403
00:21:17,300 --> 00:21:19,200
Everyone says when you throw 
money at it it fixes the 

404
00:21:19,200 --> 00:21:21,000
problem. 
I just I'm not seeing it 

405
00:21:21,100 --> 00:21:23,200
anyways. 
Okay, so here we go. 

406
00:21:23,400 --> 00:21:28,400
So he's working with dubai-based
Atlas Capital team which he 

407
00:21:28,400 --> 00:21:33,200
joined two years ago as 
co-founder and chief Economist 

408
00:21:33,200 --> 00:21:37,600
to create the new product. 
So I hate Bitcoin. 

409
00:21:38,000 --> 00:21:44,100
I hate shit coins but by my shit
coin this is anyone's with 

410
00:21:44,100 --> 00:21:46,700
prominent Financial voices, 
including Bridgewater 

411
00:21:46,700 --> 00:21:50,100
Associates, LPS Ray dalio and 
Credit Suisse AG strategist. 

412
00:21:50,100 --> 00:21:53,300
Zoltan pose are having argued 
the US currency. 

413
00:21:53,300 --> 00:21:56,100
Risks gradually losing its 
Reserve status. 

414
00:21:56,200 --> 00:21:59,700
We need to fix this roubini 
said, in an interview, we 

415
00:21:59,700 --> 00:22:03,400
recognize that America's dollar 
Reserve currency could be at 

416
00:22:03,400 --> 00:22:07,600
risk, and are working to create 
a new New instrument, that's 

417
00:22:07,600 --> 00:22:09,700
effectively more resilient than 
the dollar. 

418
00:22:10,200 --> 00:22:16,000
So so they're working to create 
another centralized shit coin to

419
00:22:16,000 --> 00:22:19,800
replace the dollar. 
This is, this is pretty much 

420
00:22:19,800 --> 00:22:21,800
what I'm understanding your 
unlike, unlike many 

421
00:22:21,800 --> 00:22:24,300
cryptocurrencies roubini 
stresses that the coin would be 

422
00:22:24,300 --> 00:22:27,900
backed by real assets. 
Ah, well that fixes the problem,

423
00:22:28,200 --> 00:22:32,600
a mix of short-term us 
treasuries, IE printing money 

424
00:22:32,600 --> 00:22:35,000
out of thin air, gold and u.s. 
property. 

425
00:22:35,700 --> 00:22:37,700
So pretty much the gold in the 
u.s. property of the only two 

426
00:22:37,700 --> 00:22:38,900
things that are actually worth 
anything. 

427
00:22:38,900 --> 00:22:41,700
But they don't need a shit coin,
representing them because you 

428
00:22:41,700 --> 00:22:45,500
can just go buy gold and you can
go invest in u.s. property. 

429
00:22:45,800 --> 00:22:50,900
Anyways our goal is to create a 
global store of value that coin 

430
00:22:50,900 --> 00:22:52,900
already exists Bud. 
You're a little late. 

431
00:22:53,600 --> 00:22:56,400
This is something akin to a 
substitute for treasuries or a 

432
00:22:56,400 --> 00:22:59,500
digital asset that has payment 
features in it. 

433
00:22:59,900 --> 00:23:03,700
Atlas Capital said it's working 
with mist and Labs the web three

434
00:23:03,700 --> 00:23:07,100
developer, founded by former. 
It applied for mink, Facebook 

435
00:23:07,100 --> 00:23:11,500
engineers and backed by another 
another piece of signal, 

436
00:23:11,600 --> 00:23:16,400
Andreessen Horowitz. 
Oh my gosh, no way a 16z in on, 

437
00:23:16,600 --> 00:23:23,400
in on trying to create a, a 
token to replace the US currency

438
00:23:23,400 --> 00:23:27,700
as as the world Reserve. 
I am so surprised right now I'm 

439
00:23:27,700 --> 00:23:30,500
totally surprised. 
Anyways, they're going to 

440
00:23:30,508 --> 00:23:34,700
develop the technology for the 
United Sovereign governance 

441
00:23:34,700 --> 00:23:40,600
gold. 
Optimized dollar or USG. 

442
00:23:42,400 --> 00:23:47,700
Yeah, and here he is the guy who
hates crypto himself nouriel, 

443
00:23:47,700 --> 00:23:52,400
roubini Schilling, a shit coin. 
Say It Ain't So. 

444
00:23:52,400 --> 00:23:54,700
No. 
It's so May 9th 2022. 

445
00:23:55,300 --> 00:23:57,000
This is our timeline USG will 
be. 

446
00:23:57,000 --> 00:24:00,500
The will be first, an index then
an ETF. 

447
00:24:00,600 --> 00:24:05,400
And last, a security token 
backed by real thin assets with 

448
00:24:05,900 --> 00:24:11,600
AML kyc features hedge against 
inflation, Paul, and Geo poll 

449
00:24:11,600 --> 00:24:14,400
risks. 
And with ESG features, guys, 

450
00:24:14,600 --> 00:24:17,800
this thing is the Swiss army 
knife of money. 

451
00:24:18,300 --> 00:24:22,100
It's going to do everything. 
Everything. 

452
00:24:22,700 --> 00:24:24,800
But wait there's a kicker to all
this. 

453
00:24:24,800 --> 00:24:29,100
Phil what platform is this shit 
coin being built on? 

454
00:24:30,800 --> 00:24:32,600
So we went to go take a look at 
the Atlas Group. 

455
00:24:32,700 --> 00:24:35,400
Ha ha ha. 
I don't think I really need to 

456
00:24:35,400 --> 00:24:39,300
say anything else. 
The proof is right here on the 

457
00:24:39,300 --> 00:24:46,900
screen so so look, I am just 
completely speechless that this 

458
00:24:46,900 --> 00:24:51,200
guy for the last five years has 
ripped into Bitcoin ripped into 

459
00:24:51,200 --> 00:24:53,500
this industry as a whole. 
I mean, obviously, I can't 

460
00:24:53,500 --> 00:24:57,400
disagree with him about the shit
coins, but then turns around and

461
00:24:57,400 --> 00:25:02,600
is using the scammy, as platform
of All the scams number one, and

462
00:25:02,600 --> 00:25:07,200
number two is literally 
recreating the same crap that 

463
00:25:07,200 --> 00:25:09,700
all the shit coin, scammers that
he called out. 

464
00:25:10,100 --> 00:25:15,300
We're already creating But he 
seems to think it's different 

465
00:25:17,100 --> 00:25:19,300
pure clown, World Nico, pure 
clown world. 

466
00:25:21,300 --> 00:25:23,200
Bro, I mean first of all you did
great. 

467
00:25:23,200 --> 00:25:27,100
That was an awesome segment. 
I was highly entertained fucking

468
00:25:27,100 --> 00:25:29,400
roubini man. 
This, it's so funny because 

469
00:25:29,400 --> 00:25:32,900
like, I hate Bitcoin but I'm 
here to fix it and I could make 

470
00:25:32,900 --> 00:25:38,000
a better Bitcoin on aetherium 
but it's backed by dollars. 

471
00:25:38,000 --> 00:25:40,900
Like this guy is such a joke. 
He's an academic. 

472
00:25:40,900 --> 00:25:43,900
He's been if he just shut up and
bought Bitcoin when he started 

473
00:25:43,900 --> 00:25:47,700
talking shit about it you'd be 
significantly wealthier today so

474
00:25:48,100 --> 00:25:50,600
it's like Peter Schiff. 
I think it gets to a point. 

475
00:25:50,800 --> 00:25:56,100
We're so much time passes that 
you've been criticizing Bitcoin 

476
00:25:56,200 --> 00:25:59,900
that the price has has done its 
thing that these people just 

477
00:25:59,900 --> 00:26:04,300
look like total dumb asses if 
they fold, if they capitulate 

478
00:26:04,300 --> 00:26:05,500
they get on bitcoin. 
So what do they do? 

479
00:26:05,500 --> 00:26:09,900
They double down but Bitcoin, 
just destroys egos, man. 

480
00:26:09,900 --> 00:26:11,800
That's what it does. 
You got to humble yourself. 

481
00:26:11,800 --> 00:26:13,400
That's that's, that's what it 
is, man. 

482
00:26:13,400 --> 00:26:17,000
Even sailor back in the day, was
criticizing Bitcoin but he 

483
00:26:17,000 --> 00:26:20,100
realized like, hey, I got a lot 
to lose if I don't jump on this 

484
00:26:20,100 --> 00:26:23,400
bandwagon. 
And so it's just man, you know, 

485
00:26:23,400 --> 00:26:26,900
it's a shame but so be it just 
let him create a shit coin. 

486
00:26:26,900 --> 00:26:29,600
Let him get wrecked. 
It doesn't solve any issues. 

487
00:26:29,600 --> 00:26:32,700
It doesn't separate the monetary
policy away from from human 

488
00:26:32,700 --> 00:26:35,800
beings. 
We've as a species, we've done 

489
00:26:35,800 --> 00:26:39,800
that many times, we've so-called
backed our Fiat are backed our 

490
00:26:39,800 --> 00:26:43,700
money with hard assets. 
Well, what tends to happen is 

491
00:26:43,800 --> 00:26:45,900
people start taking shortcuts, 
right? 

492
00:26:45,900 --> 00:26:48,300
Because your incentivized to 
because it's easy to do that 

493
00:26:48,300 --> 00:26:51,100
with Bitcoin you'd literally 
cannot Right. 

494
00:26:51,100 --> 00:26:54,900
That's what makes it unique. 
But you know, these these Fiat 

495
00:26:54,900 --> 00:26:57,300
parasites, that that are 
financially privilege, they 

496
00:26:57,300 --> 00:26:59,900
benefit from the Legacy system, 
they're incentivized not to 

497
00:26:59,908 --> 00:27:01,900
understand this dude. 
I think she's a professor of 

498
00:27:01,900 --> 00:27:04,200
Economics at some school NYU or 
something. 

499
00:27:04,400 --> 00:27:06,800
Right. 
Like he's a professor and Fiat 

500
00:27:06,800 --> 00:27:09,800
economics, right? 
Anyways, Jessa fur, what are 

501
00:27:09,800 --> 00:27:13,300
your thoughts on mr. 
Roubini Professor rubinho. 

502
00:27:13,300 --> 00:27:15,500
That's right. 
Professor, professor little bit.

503
00:27:15,500 --> 00:27:21,100
It's very rivini, man. 
It he's kind of like Resizing 

504
00:27:21,100 --> 00:27:26,500
the lack of Regulation yet like 
when I think of Bitcoin, I'm 

505
00:27:26,500 --> 00:27:29,600
looking at it, it's it's hugely 
regulated already. 

506
00:27:29,600 --> 00:27:32,900
I mean we've got and the 
regulations that we can point to

507
00:27:33,300 --> 00:27:38,400
have to do with capital gains 
tax and an L KY C which are like

508
00:27:38,600 --> 00:27:41,700
some of the worst features. 
I mean when I'm introducing 

509
00:27:41,700 --> 00:27:45,800
Bitcoin to to new people I have 
to tell them that they have to 

510
00:27:45,800 --> 00:27:49,400
scan their drivers license now 
like forget about that. 

511
00:27:49,500 --> 00:27:53,800
I mean they Introduced the the 
product of the regulation is 

512
00:27:53,900 --> 00:27:56,500
like, these are the worst 
features of Bitcoin. 

513
00:27:57,300 --> 00:28:02,300
And now new, real roubini is 
embracing these things putting 

514
00:28:02,300 --> 00:28:08,600
it on the the scam chain and and
on the build back better plan 

515
00:28:09,300 --> 00:28:14,800
just to just to bring his her 
his surveillance token to the 

516
00:28:14,800 --> 00:28:17,600
world. 
So awesome work Muriel. 

517
00:28:17,900 --> 00:28:20,500
Yeah, absolutely right. 
It's so crazy. 

518
00:28:20,600 --> 00:28:22,800
Yeah, it was actually Kaiser 
that said that when he came on 

519
00:28:22,800 --> 00:28:24,800
the show, these are just 
egomaniacs. 

520
00:28:25,000 --> 00:28:27,800
They can't stand that. 
They relate to bitcoin. 

521
00:28:28,000 --> 00:28:30,500
All these plebs got in first and
they're like, you know what? 

522
00:28:30,500 --> 00:28:33,200
I'm just going to build my own. 
Okay bro do it, you know have 

523
00:28:33,200 --> 00:28:35,300
fun. 
Staying poor will enjoy the 

524
00:28:35,300 --> 00:28:37,000
freedom. 
You do your own thing. 

525
00:28:37,800 --> 00:28:41,600
So yeah, I just I can't help 
thinking that like you know, how

526
00:28:41,600 --> 00:28:44,900
I always joke around that. 
They they spawn these creatures 

527
00:28:44,900 --> 00:28:46,800
out of nowhere and then all of a
sudden have them go out. 

528
00:28:46,800 --> 00:28:47,700
Yeah. 
Exactly. 

529
00:28:47,700 --> 00:28:48,900
Right. 
Like Steve hanky-panky. 

530
00:28:50,200 --> 00:28:53,300
I am I swear, I swear they 
animated no real and they're 

531
00:28:53,300 --> 00:28:55,400
like, all right. 
You're gonna be our guy that 

532
00:28:55,400 --> 00:28:58,600
like looks really smart and 
dumps on the shit coins. 

533
00:28:58,600 --> 00:29:01,100
We need you to make a token and 
everyone's going to follow 

534
00:29:01,100 --> 00:29:02,500
because thinking. 
Yeah. 

535
00:29:02,900 --> 00:29:04,400
Right. 
And what did they do? 

536
00:29:04,400 --> 00:29:08,100
They credential eyes look, we've
got Ray dalio. 

537
00:29:08,200 --> 00:29:10,600
You've got Credit, Suisse 
Credit, Suisse has never been 

538
00:29:10,600 --> 00:29:13,100
busted for being scammers, it 
doesn't matter. 

539
00:29:13,500 --> 00:29:15,800
It doesn't matter. 
It's that when the peasants do 

540
00:29:15,800 --> 00:29:19,100
the scamming, that's a problem. 
When the elites do the scamming,

541
00:29:19,600 --> 00:29:21,000
that's fine. 
They're just Special. 

542
00:29:21,000 --> 00:29:22,500
They're just so good at what 
they do. 

543
00:29:23,100 --> 00:29:26,600
You saw that with the whole game
stops debacle, you saw them, 

544
00:29:26,800 --> 00:29:30,300
it's like when they lose it's 
like ah it's like what they when

545
00:29:30,300 --> 00:29:31,900
they win. 
It's like oh we're just we're 

546
00:29:31,900 --> 00:29:33,300
just amazing. 
You know it dude. 

547
00:29:33,300 --> 00:29:35,300
The whole thing's a scam it even
applies. 

548
00:29:35,300 --> 00:29:38,500
So, when these big Banks fuck 
up, they it's like the public 

549
00:29:38,500 --> 00:29:41,100
has to bail them out. 
When the public fucks up all? 

550
00:29:41,100 --> 00:29:43,900
No, no, it's weird. 
We live in a capitalist Society.

551
00:29:43,900 --> 00:29:46,600
What are you talking about? 
Anyways, feel it's time for the 

552
00:29:46,600 --> 00:29:50,000
daily meme review brought to you
by Citadel 21. 

553
00:29:50,000 --> 00:29:54,000
It's the Bitcoin cultures, Enid 
stories articles Comics by 

554
00:29:54,000 --> 00:29:57,000
actual bitcoiners. 
This is the artwork for volume 

555
00:29:57,000 --> 00:29:59,000
10 and this is the artwork for 
volume 11. 

556
00:29:59,000 --> 00:30:02,000
This is the latest drop. 
Every, every volume has 

557
00:30:02,000 --> 00:30:04,100
different artwork. 
In their scarce is only 1,000, 

558
00:30:04,100 --> 00:30:08,000
physical copies made per volume.
So get your prints of Citadel 21

559
00:30:08,000 --> 00:30:10,700
today before they run out. 
All right, everybody, Welcome to

560
00:30:10,700 --> 00:30:13,600
the meme review. 
I we fill put some memes. 

561
00:30:13,600 --> 00:30:15,700
I put some memes. 
We have a lot of memes, because 

562
00:30:15,700 --> 00:30:17,100
I know a lot of you guys are 
hurting. 

563
00:30:17,100 --> 00:30:18,900
I got a couple of messages 
already. 

564
00:30:19,000 --> 00:30:20,500
We're going to do a little bit 
extra. 

565
00:30:20,600 --> 00:30:22,400
Memes today. 
Hopefully make you guys feel a 

566
00:30:22,408 --> 00:30:24,600
little bit better. 
Here's now, here's the first one

567
00:30:24,600 --> 00:30:29,400
by basic hottel happening. 
Soon print trillions taper, Dow 

568
00:30:29,400 --> 00:30:34,600
Jones index 30% qe5 print money 
again I absolutely believe it's 

569
00:30:34,600 --> 00:30:37,100
a mean but I believe it's going 
to be true next one. 

570
00:30:37,100 --> 00:30:39,000
Buy Bitcoin. 
Lolz fact, this is true bear 

571
00:30:39,000 --> 00:30:41,200
markets, create strong meme, 
strong means create bull, 

572
00:30:41,200 --> 00:30:43,400
markets, bull markets, great bad
memes, bad memes. 

573
00:30:43,400 --> 00:30:46,800
Create bear markets, that is 
great, very well done. 

574
00:30:46,900 --> 00:30:50,000
Shout out, she she Bitcoin 
Sovereign stack, who's Bitcoin? 

575
00:30:51,200 --> 00:30:53,700
Seed signers, simply Bitcoin 
Bitcoin, core Bitcoin, 

576
00:30:53,700 --> 00:30:57,000
kindergarten seed, signer. 
Sheshe Specter Kaboom racks. 

577
00:30:57,000 --> 00:30:58,800
Very cool. 
She's yell like the artwork. 

578
00:30:59,000 --> 00:31:00,400
Alright, next one, bye. 
Wanna kiss. 

579
00:31:00,400 --> 00:31:05,400
He's replying to four SS pouliot
how it felt for the past three 

580
00:31:05,400 --> 00:31:07,400
years. 
All the NPC's in the Bitcoin. 

581
00:31:07,400 --> 00:31:09,300
ER right. 
Yes, you're all wrong. 

582
00:31:09,300 --> 00:31:11,800
Me is feels like that. 
Sometimes it's very good 

583
00:31:11,800 --> 00:31:13,800
representation. 
Anyways, moving on to know 

584
00:31:13,800 --> 00:31:16,600
lizard people base. 
Babe, please, stop. 

585
00:31:16,700 --> 00:31:19,300
You can't just keep stacking 
SATs into a recession. 

586
00:31:19,300 --> 00:31:22,300
Yes, dear. 
And then he has a thought 

587
00:31:22,300 --> 00:31:25,000
bubble, please baby. 
Please keep stacking SATs. 

588
00:31:26,300 --> 00:31:29,700
Alright, next 1 by Rd, their 
Satoshi make the bear Market be 

589
00:31:29,700 --> 00:31:31,700
short. 
Very nice. 

590
00:31:31,800 --> 00:31:32,900
Our next one. 
Bye. 

591
00:31:32,900 --> 00:31:38,900
Jose hottel me and Bitcoins 
cycle lows then now so good. 

592
00:31:38,900 --> 00:31:40,800
So good. 
Alright, moving on to the next 

593
00:31:40,800 --> 00:31:44,400
one. 
Bitcoin is saving unbothered 

594
00:31:44,400 --> 00:31:47,800
moisturize happy in my Lane 
focused flourishing. 

595
00:31:50,600 --> 00:31:53,200
If you take your Bitcoins to 
Cold Storage, that's how you 

596
00:31:53,200 --> 00:31:55,500
feel all the time. 
Now the best meme of the day 

597
00:31:55,700 --> 00:32:00,300
guys Swan bitcoiners class of 
2020 one right now, bitcoiners 

598
00:32:00,300 --> 00:32:05,000
class of 2017 and a fellow 
plebe, bit quarters class of 

599
00:32:05,000 --> 00:32:11,500
2013, falling asleep, awesome, 
awesome memes by the plebs, 

600
00:32:11,500 --> 00:32:14,400
shout out to you all. 
And for that Phil, I'm going to 

601
00:32:14,400 --> 00:32:17,800
give it a very special score of 
a Bitcoin pin. 

602
00:32:19,600 --> 00:32:21,500
You gotta focus camera. 
Murrah, there we go. 

603
00:32:23,000 --> 00:32:25,100
Anyways, Phil would you give 
those memes? 

604
00:32:25,600 --> 00:32:29,200
All right. 
Going on the same line as the 

605
00:32:29,200 --> 00:32:33,700
stickers, right? 
We got a new one, privacy is a 

606
00:32:33,700 --> 00:32:36,500
human fight. 
Mighty, nice. 

607
00:32:36,900 --> 00:32:38,900
All right, this is this a good 
score. 

608
00:32:38,900 --> 00:32:41,900
Anyways, Jessa fur. 
What would you give those? 

609
00:32:41,900 --> 00:32:43,300
Awesome. 
Awesome memes. 

610
00:32:44,500 --> 00:32:47,600
Let me tell you, I'm feeling 
extra bullish, ready to plug in 

611
00:32:47,600 --> 00:32:50,900
some miners. 
So right here, I have the cap 

612
00:32:50,900 --> 00:32:56,000
from an outlet. 
Yeah, unplug plug in your 

613
00:32:56,000 --> 00:32:59,800
minors. 
Let's get bullish, plug. 

614
00:32:59,800 --> 00:33:03,400
It's a cap to it's the AC cap, 
right? 

615
00:33:03,500 --> 00:33:05,300
The you see cap? 
Yeah. 

616
00:33:05,500 --> 00:33:06,500
Mmm. 
Okay. 

617
00:33:06,600 --> 00:33:09,100
Very night, we're never clip the
ground bad idea. 

618
00:33:09,500 --> 00:33:11,000
Some people do that though. 
I go. 

619
00:33:11,000 --> 00:33:13,100
No, you know, my plug doesn't 
have that make clip it off. 

620
00:33:13,100 --> 00:33:15,300
Like that's a terrible idea. 
Ha ha ha. 

621
00:33:16,500 --> 00:33:18,600
There's some life lessons from 
Phil. 

622
00:33:18,600 --> 00:33:21,700
Anyways guys, we want to know. 
If you agree with our stores, 

623
00:33:21,700 --> 00:33:23,600
you disagree. 
Let us know down in the comment 

624
00:33:23,600 --> 00:33:25,200
section. 
Kamek, kamek kamek helps with 

625
00:33:25,200 --> 00:33:27,500
the mysterious YouTube 
algorithm, make sure to 

626
00:33:27,700 --> 00:33:31,100
Subscribe to us an alternative 
video platforms like Rumble.com 

627
00:33:31,100 --> 00:33:33,000
and Bitcoin tv.com. 
They don't censor their because 

628
00:33:33,000 --> 00:33:36,000
Bitcoin TV and join our awesome 
telegram group. 

629
00:33:36,000 --> 00:33:38,200
It's a party in there. 
You could link some means 

630
00:33:38,200 --> 00:33:40,000
there's plebs. 
It's a lot of fun. 

631
00:33:40,200 --> 00:33:41,700
The links down below. 
Tyler Graham. 

632
00:33:41,700 --> 00:33:43,700
Yeah. 
Anyways Phil it's time for the 

633
00:33:43,700 --> 00:33:46,400
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634
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637
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638
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Pisses me off because of that or

639
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All right, everybody, check this

644
00:34:13,100 --> 00:34:16,199
out. 
We told you we were actually 

645
00:34:16,199 --> 00:34:19,600
calling this. 
We said that was a either a 

646
00:34:19,600 --> 00:34:24,300
month ago or two months ago that
the average purchase price of 

647
00:34:24,300 --> 00:34:29,199
big of micro strategies Bitcoin 
was at 30,000 100, we told you 

648
00:34:29,400 --> 00:34:32,900
that if Bitcoin went below that 
and it dipped a little bit below

649
00:34:32,900 --> 00:34:36,300
that today. 
Michael sailor is going to start

650
00:34:36,300 --> 00:34:40,500
at like he's gonna start earning
his Badges and I think that that

651
00:34:40,500 --> 00:34:43,199
time has come definitely a lot 
of pressure. 

652
00:34:43,300 --> 00:34:47,400
His stock must be doing not so 
good right now, you know and 

653
00:34:47,400 --> 00:34:49,500
remember this is a guy that went
on Tucker Carlson. 

654
00:34:49,500 --> 00:34:52,800
He was basically saying the 
stock did so amazing doesn't 

655
00:34:52,800 --> 00:34:56,699
look so good, right now, a lot 
of the naysayers are jumping up 

656
00:34:56,699 --> 00:34:59,700
and down, jump A up and down. 
Enjoy, but remember, what was 

657
00:34:59,700 --> 00:35:04,000
your first year in Bitcoin? 
Like, right, it usually unless 

658
00:35:04,000 --> 00:35:07,400
you got very lucky and you got 
you nailed your entry, right? 

659
00:35:07,500 --> 00:35:09,900
A lot of us got wrecked our 
first year, it's only after a 

660
00:35:09,908 --> 00:35:12,100
couple years in Bitcoin. 
My opinion takes about three or 

661
00:35:12,100 --> 00:35:15,900
four years of full cycle for you
to start feeling comfortable 

662
00:35:15,900 --> 00:35:19,300
with your stack, right? 
So Michael sailor, definitely 

663
00:35:19,300 --> 00:35:21,500
earning a strikes right now. 
Stripes. 

664
00:35:21,900 --> 00:35:26,000
Moving on the absolute 
degenerate of nine buchelli, 

665
00:35:26,000 --> 00:35:27,500
there's a lot of degenerates in 
Bitcoin. 

666
00:35:27,800 --> 00:35:31,100
The president of El Salvador, El
Salvador, just bought the dip 

667
00:35:31,100 --> 00:35:36,500
500 coins at an average USD 
price of thirty thousand, seven,

668
00:35:36,500 --> 00:35:39,100
hundred, forty four. 
And when I say degenerate, I'm 

669
00:35:39,100 --> 00:35:41,500
speaking of myself. 
That's what pubs are we 

670
00:35:41,500 --> 00:35:43,800
regenerates? 
And it's only in Bitcoin. 

671
00:35:43,900 --> 00:35:49,100
When something goes down, 50, 80
percent that people still buy 

672
00:35:49,100 --> 00:35:53,000
it. 
So, yeah, because we know, we 

673
00:35:53,000 --> 00:35:55,500
know that we're not just 
investing in something. 

674
00:35:55,500 --> 00:35:59,400
We know that we're opting out 
and we are buying some Freedom 

675
00:35:59,400 --> 00:36:01,500
money, right? 
So that's the benefits of 

676
00:36:01,508 --> 00:36:03,300
Bitcoin. 
That's why in Bitcoin people 

677
00:36:03,300 --> 00:36:06,100
celebrate, when it dips, right? 
Because they know they're going 

678
00:36:06,100 --> 00:36:09,600
to be able to stack more corn. 
Anyways Phil what are your 

679
00:36:09,600 --> 00:36:13,500
thoughts on Michael Sailors are 
better said microstrategy's 

680
00:36:13,500 --> 00:36:16,900
average buying price and I'm 
bouquet lays stack the dip. 

681
00:36:17,300 --> 00:36:20,000
Yeah I was I was waiting. 
I was waiting for one of these 

682
00:36:20,000 --> 00:36:22,700
Michael sailor announcements 
that come out and be like hey 

683
00:36:22,700 --> 00:36:25,500
we're finally below his price. 
Don't get me wrong. 

684
00:36:25,500 --> 00:36:28,600
The last time that we dipped, we
So we're like looking more like 

685
00:36:28,600 --> 00:36:32,200
what price was he in at because 
because look it's a true. 

686
00:36:32,200 --> 00:36:35,100
It's a true test, right? 
It's a true test for the hollers

687
00:36:35,600 --> 00:36:38,500
you know that like when it hits 
your your prize and then it goes

688
00:36:38,500 --> 00:36:41,400
below you know like for those of
us who know exactly what it's 

689
00:36:41,400 --> 00:36:46,400
like to be sitting on - 80 % you
know like it's extremely painful

690
00:36:46,400 --> 00:36:48,700
it's extremely painful to sit 
there and see that and have to 

691
00:36:48,700 --> 00:36:52,800
retrain your brain. 
On the other hand, on the other 

692
00:36:52,800 --> 00:36:54,900
hand, I don't I don't see 
Michael sailor, having such a 

693
00:36:54,900 --> 00:36:57,200
hard time he just he is so 
overly bullish. 

694
00:36:57,500 --> 00:37:01,400
I mean his bullishness just 
makes just makes it all better, 

695
00:37:02,300 --> 00:37:03,700
but either way, that's that's 
for him. 

696
00:37:03,900 --> 00:37:06,800
I have no Heroes. 
We have no Heroes, we're okay 

697
00:37:06,800 --> 00:37:09,200
with that. 
That's his business, but 

698
00:37:09,200 --> 00:37:11,100
hopefully, he's not sweating it 
out. 

699
00:37:11,100 --> 00:37:13,900
The other piece to this is for 
for a night. 

700
00:37:13,900 --> 00:37:18,900
But Kelly, He's he's got some 
balls man. 

701
00:37:19,800 --> 00:37:25,800
He's the president of a country 
and he's just like he's like, 

702
00:37:25,800 --> 00:37:33,300
no, I can't believe that. 
This is what we're living 

703
00:37:33,300 --> 00:37:35,200
through now. 
It is never, you've never seen 

704
00:37:35,200 --> 00:37:37,000
this stuff in like in the stock 
market. 

705
00:37:37,000 --> 00:37:40,300
Look i-i've been watching stock 
since I was like 17 years old. 

706
00:37:40,400 --> 00:37:43,800
Like I never saw anything like 
nobody ever nobody ever cared 

707
00:37:44,000 --> 00:37:45,500
you know what I mean? 
Like you'd see. 

708
00:37:45,500 --> 00:37:48,500
Like this is a The thing about 
Bitcoin that's very different 

709
00:37:48,500 --> 00:37:50,300
and like I understand there's no
community and all that shit 

710
00:37:50,300 --> 00:37:52,900
that's perfectly fine. 
But the culture of Bitcoin, the 

711
00:37:52,900 --> 00:37:57,100
way that it is you just don't 
see this in traditional Finance,

712
00:37:57,500 --> 00:37:59,300
okay? 
Like traditional Finance doesn't

713
00:37:59,300 --> 00:38:01,800
have the hearts and minds of 
people for some reason. 

714
00:38:01,800 --> 00:38:05,000
This money does. 
Anyways, no, you're absolutely 

715
00:38:05,000 --> 00:38:06,400
right. 
Jess Taffer. 

716
00:38:06,700 --> 00:38:11,500
What are your thoughts on this? 
My friend I really love the the 

717
00:38:11,500 --> 00:38:15,500
bitcoiners because the bear 
markets kind of just like expose

718
00:38:15,500 --> 00:38:20,200
who they are. 
And for these two, what I've 

719
00:38:20,200 --> 00:38:23,100
seen so far is unshakable 
conviction. 

720
00:38:24,000 --> 00:38:27,000
Like even with when 
microstrategy is like below 

721
00:38:27,000 --> 00:38:30,900
their average by price, I'm 
betting that they're going to 

722
00:38:30,900 --> 00:38:35,700
double down on this and already.
Like I'm bullish on 

723
00:38:35,700 --> 00:38:38,900
microstrategy just because they 
do have Bitcoin on the balance 

724
00:38:38,900 --> 00:38:42,100
sheet like that. 
It is a tremendous asset for 

725
00:38:42,100 --> 00:38:45,500
their company that's going to 
help them out in the in the 

726
00:38:45,500 --> 00:38:50,800
years to come very excited about
El Salvador and naive Kelly 

727
00:38:50,900 --> 00:38:53,800
making this huge bet on bitcoin.
Heck yeah. 

728
00:38:53,800 --> 00:38:57,400
Stack that dip stack that dip? 
You heard it from jaystepher 

729
00:38:57,400 --> 00:39:00,000
himself. 
Anyways check this out guys. 

730
00:39:00,000 --> 00:39:03,800
Today we have we have a very 
special guest. 

731
00:39:03,800 --> 00:39:07,500
He let me give you guys a little
bit story, background of Jesper.

732
00:39:07,700 --> 00:39:09,700
We actually became friends 
during the bear Market. 

733
00:39:09,700 --> 00:39:12,400
This is I usually became friends
with bitcoiners, you don't make 

734
00:39:12,400 --> 00:39:14,300
friends in the bull market, 
that's when all the grifters 

735
00:39:14,300 --> 00:39:17,600
come in, you make the closest 
friends during the bear Market. 

736
00:39:17,600 --> 00:39:20,900
That's when the true bitcoiners 
stick around and you would 

737
00:39:20,900 --> 00:39:24,000
during that pain, right? 
Especially the first cycle is, 

738
00:39:24,000 --> 00:39:26,300
when you build these tight 
friendships, right? 

739
00:39:26,300 --> 00:39:28,000
That's how Phil. 
And I met, you know, that's how 

740
00:39:28,000 --> 00:39:31,200
jessa4 met just for actually 
started a Bitcoin kindergarten. 

741
00:39:31,200 --> 00:39:34,000
If you guys remember Optimus 
yesterday, he's the host of that

742
00:39:34,000 --> 00:39:37,000
show and he actually left to 
fight. 

743
00:39:37,100 --> 00:39:41,600
Found find found is I don't know
what, Do you found a lightning 

744
00:39:41,600 --> 00:39:43,700
company? 
Very cool. 

745
00:39:43,700 --> 00:39:46,700
So you know the name of this 
episode is going to be an update

746
00:39:46,700 --> 00:39:49,700
on the lightning Network. 
So before we get into that just 

747
00:39:49,700 --> 00:39:54,000
for in you in an eloquent way, 
why don't you explain what the 

748
00:39:54,000 --> 00:40:00,100
lightning network is and what's 
it for The lightning network is 

749
00:40:00,100 --> 00:40:05,500
payment rails for Bitcoin. 
I think in the past we've heard 

750
00:40:05,500 --> 00:40:08,700
that Bitcoin transactions are 
slow and that's not the case 

751
00:40:08,700 --> 00:40:12,900
anymore because the lightning 
Network exists and it has 

752
00:40:12,900 --> 00:40:16,100
Partnerships between nodes on 
the Bitcoin Network. 

753
00:40:16,100 --> 00:40:20,300
That can update a little Ledger 
entry, and can make a payment 

754
00:40:20,300 --> 00:40:24,600
just as simple as that. 
Just talking to another peer on 

755
00:40:24,600 --> 00:40:32,700
the Bitcoin lightning Network 
just by That we can create a map

756
00:40:32,700 --> 00:40:36,200
of all of the, the lighting 
Network nodes and be able to 

757
00:40:36,200 --> 00:40:39,000
report statistics on those very,
very cool. 

758
00:40:39,000 --> 00:40:41,000
So, let's take a look at some of
those stats. 

759
00:40:41,000 --> 00:40:42,800
I'm going to pull up ambos. 
I'm going to pull up some 

760
00:40:42,800 --> 00:40:45,200
lightning stats. 
So this is first Bitcoin 

761
00:40:45,200 --> 00:40:47,200
visuals, right? 
This is the lightning network 

762
00:40:47,200 --> 00:40:49,400
capacity. 
This is the nodes the channels. 

763
00:40:49,700 --> 00:40:53,800
It's all going parabolic, right?
And this goes back to what I was

764
00:40:53,800 --> 00:40:56,400
talking about earlier on, in the
show, right? 

765
00:40:56,400 --> 00:40:59,800
What are the fundamentals of 
Coin, write the node network is 

766
00:40:59,800 --> 00:41:02,700
going, is is increasing the 
lightning network capacity is 

767
00:41:02,708 --> 00:41:04,200
increasing. 
The number of channels is 

768
00:41:04,200 --> 00:41:06,800
increasing. 
The hash rate is increasing. 

769
00:41:06,800 --> 00:41:09,500
The only thing that isn't 
increasing is the price, right? 

770
00:41:09,600 --> 00:41:12,000
So again, it goes back to what 
Phil was saying. 

771
00:41:12,000 --> 00:41:14,900
There's a lot of emotions right 
now, I think a lot of people are

772
00:41:14,900 --> 00:41:18,100
freaked out with the hawkish Fed
so to speak. 

773
00:41:18,700 --> 00:41:21,900
Anyways, this is ambos. 
This is the website and the 

774
00:41:21,900 --> 00:41:25,700
company that that that gesture 
for founded. 

775
00:41:25,700 --> 00:41:29,900
This is the lightning Channel. 
Is very cool. 

776
00:41:30,100 --> 00:41:32,200
Jaystepher. 
We got a lot of requests. 

777
00:41:32,200 --> 00:41:34,000
What is this? 
What is this place? 

778
00:41:34,000 --> 00:41:37,400
Why would people want to use it?
So am boss. 

779
00:41:37,400 --> 00:41:39,700
That space is the lightning 
Network Explorer. 

780
00:41:39,700 --> 00:41:42,200
So you can look up any of the 
nodes on the network. 

781
00:41:42,200 --> 00:41:44,400
They each have their own profile
page. 

782
00:41:45,000 --> 00:41:48,500
What you're looking at right now
is our latest product magma, 

783
00:41:48,600 --> 00:41:52,000
which allows you to buy and sell
channels on the lighting at 

784
00:41:52,000 --> 00:41:54,600
work. 
So if you want to provide 

785
00:41:54,600 --> 00:41:56,600
liquidity to the lightning 
Network. 

786
00:41:57,100 --> 00:42:00,600
Why why just open a channel 
randomly when you can actually 

787
00:42:00,600 --> 00:42:04,800
go and sell that liquidity? 
What we're seeing early numbers 

788
00:42:04,800 --> 00:42:11,300
so far since We launched it just
last week is that people are you

789
00:42:11,300 --> 00:42:15,500
can buy a channel for 2.25 
percent APR. 

790
00:42:15,800 --> 00:42:19,500
So hey, like that's a that's a 
strong offering. 

791
00:42:19,500 --> 00:42:23,600
And if you're on the sell side 
of that channel, that's a 

792
00:42:23,700 --> 00:42:26,600
potential yield that you can 
experience on your Bitcoin 

793
00:42:26,600 --> 00:42:30,600
without giving up custody, you 
don't have to trust the platform

794
00:42:30,800 --> 00:42:35,300
in order to get exposure to some
of the yield on your Bitcoin. 

795
00:42:35,700 --> 00:42:39,100
So that's what makes magma 
really special and you don't 

796
00:42:39,100 --> 00:42:42,100
need to be a complete wizard. 
You just need to be able to make

797
00:42:42,100 --> 00:42:45,900
one lightning payment and you 
can get a channel open to your 

798
00:42:45,900 --> 00:42:49,600
non-custodial, Bitcoin, 
lightning node, what type of 

799
00:42:49,600 --> 00:42:52,100
yields could people expect? 
And I actually want to give a 

800
00:42:52,100 --> 00:42:55,000
shout-out to this one, it's 
called got polio which means 

801
00:42:55,000 --> 00:42:58,700
shit chicken in Spanish. 
Leave it up to the bitcoiners to

802
00:42:58,700 --> 00:43:01,300
come up with funny ass names. 
What type of yield? 

803
00:43:01,300 --> 00:43:03,700
Because I know a lot of people 
are curious, what type of yield 

804
00:43:03,700 --> 00:43:07,700
could you get from your Bitcoin,
a You do offer liquidity in 

805
00:43:07,700 --> 00:43:10,900
terms of percentage terms? 
Yeah, I have to be really 

806
00:43:10,900 --> 00:43:16,000
careful on this front from the 
marketing piece because I can't 

807
00:43:16,300 --> 00:43:18,900
offer security. 
So I'm not going to give any 

808
00:43:18,900 --> 00:43:23,900
estimates on the yield of people
can get, but basically you can 

809
00:43:23,900 --> 00:43:27,600
post an offer and if it gets 
accepted, you'll have an idea of

810
00:43:27,600 --> 00:43:29,600
how much you would make you set 
the prices. 

811
00:43:29,600 --> 00:43:33,800
It'll just be like Craigslist. 
So yeah, you're selling your 

812
00:43:33,800 --> 00:43:35,800
chairs and whatnot. 
You're asking. 

813
00:43:36,200 --> 00:43:39,700
Dollars and if someone picks it 
up, then boom, that money is in 

814
00:43:39,700 --> 00:43:43,400
your pocket and and we can make 
that happen with Magma. 

815
00:43:44,400 --> 00:43:48,600
Awesome. 
So where do you see, what would 

816
00:43:48,600 --> 00:43:52,300
you say the current state of 
lightning is today compared to 

817
00:43:52,300 --> 00:43:55,100
where it was two years ago 
compared to when you really 

818
00:43:55,100 --> 00:43:56,700
started? 
Because I know you were always 

819
00:43:56,700 --> 00:43:58,300
curious. 
That was always your know I 

820
00:43:58,308 --> 00:44:00,200
would be into mining. 
I would talk about that. 

821
00:44:00,200 --> 00:44:02,900
You would be into into 
lightning. 

822
00:44:02,900 --> 00:44:05,600
So what it what would you say is
the current state of the 

823
00:44:05,600 --> 00:44:09,700
lighting up Yeah, it's good to 
keep in mind that like you never

824
00:44:09,700 --> 00:44:16,800
work is 4 years old so that was 
back in 2018 when it started I 

825
00:44:16,800 --> 00:44:23,200
was playing around with it in 
late, 2018, early 2019 we've 

826
00:44:23,200 --> 00:44:28,000
watched it transition from 
really only developers in there 

827
00:44:28,000 --> 00:44:30,700
too. 
Now we've got this you can call 

828
00:44:30,700 --> 00:44:35,500
it the umbrella effect, we're 
just regular people plebs are 

829
00:44:35,500 --> 00:44:38,200
getting connected. 
Hooked up to the lightning 

830
00:44:38,200 --> 00:44:41,700
Network and we're watching the 
cost of nodes drop down. 

831
00:44:41,800 --> 00:44:46,800
So we're watching not Leto, come
out, not all one of the sponsors

832
00:44:47,700 --> 00:44:52,500
have a Bitcoin lightning node 
for under two hundred dollar 

833
00:44:52,600 --> 00:44:57,300
price point, which is a really, 
really accelerating Factor. 

834
00:44:57,900 --> 00:45:01,700
If you wanted, you could also 
spin up a note on voltage and 

835
00:45:01,700 --> 00:45:05,300
then and that's that's for a 
small monthly fee. 

836
00:45:05,500 --> 00:45:08,200
So that's not your Hardware, but
it's still Still not custodial. 

837
00:45:08,200 --> 00:45:12,500
So like we're watching a whole 
bunch of the barriers to entry 

838
00:45:12,500 --> 00:45:18,500
disappear and the and the 
transactions are just a fraction

839
00:45:18,500 --> 00:45:22,300
of the cost of what you would 
pay with a domestic Visa card 

840
00:45:22,300 --> 00:45:25,800
transaction. 
So it's going to be, it's wicked

841
00:45:25,800 --> 00:45:29,500
cheap, it's super fast and it's 
not custodial and no one's 

842
00:45:29,500 --> 00:45:32,500
spying on your transactions. 
So let's talk a little bit about

843
00:45:32,500 --> 00:45:34,800
the downsides, right? 
Because this it sounds very 

844
00:45:34,800 --> 00:45:38,000
awesome but one of the things 
that it Like you said, 

845
00:45:38,000 --> 00:45:40,100
Lightnings very young. 
I think that this is going to 

846
00:45:40,100 --> 00:45:43,100
all get fixed as time. 
Goes by the analogy that I 

847
00:45:43,108 --> 00:45:45,700
always want to put in. 
People's minds is remember how 

848
00:45:45,700 --> 00:45:49,500
the internet was and, you know, 
the early 2000s late 90s is 

849
00:45:49,500 --> 00:45:50,800
clunky. 
It's ugly. 

850
00:45:50,800 --> 00:45:52,100
You're like, what the hell is 
this? 

851
00:45:52,600 --> 00:45:54,500
You know, people were like, this
isn't going to go anywhere 

852
00:45:54,500 --> 00:45:57,400
lightning, in my opinion is kind
of there, right? 

853
00:45:57,400 --> 00:46:01,100
So one of the bars to entry and 
what I see, a lot of people 

854
00:46:01,100 --> 00:46:03,500
complain about and I know that 
mun wallet has done this. 

855
00:46:03,700 --> 00:46:07,900
Incredible job, they have this 
kind of self semi I custodian 

856
00:46:07,900 --> 00:46:10,600
solution where they don't have. 
It's like, they hold one key. 

857
00:46:10,600 --> 00:46:12,200
You hold one key. 
They use something called a 

858
00:46:12,208 --> 00:46:14,200
submarine swap, its really 
awesome. 

859
00:46:14,200 --> 00:46:17,400
They kind of solved it, but it 
is semi custodial. 

860
00:46:17,400 --> 00:46:20,800
One of the things that one of 
the issues I have with lightning

861
00:46:21,000 --> 00:46:23,000
is that it's hard to set up, 
right? 

862
00:46:23,100 --> 00:46:25,300
It's not as easy as just 
downloading a Bitcoin wallet. 

863
00:46:25,300 --> 00:46:27,800
You know, some wallets give that
functionality as you just make a

864
00:46:27,800 --> 00:46:30,100
password, you don't have to 
write down a seat, but with that

865
00:46:30,100 --> 00:46:33,600
enables is it Nate, is it? 
It makes a very easy user 

866
00:46:33,600 --> 00:46:36,900
experience especially for 
someone who's transitioning. 

867
00:46:37,200 --> 00:46:40,100
From the Fiat world to the 
Bitcoin world right? 

868
00:46:40,100 --> 00:46:43,100
In my opinion, I think the Fiat 
system is much harder to 

869
00:46:43,100 --> 00:46:46,600
understand but because people 
grew up with it right there, 

870
00:46:46,600 --> 00:46:49,900
just accustomed to it, right? 
And now you're teaching them a 

871
00:46:49,900 --> 00:46:53,000
whole other alternative system 
that the foundation of that 

872
00:46:53,000 --> 00:46:55,800
alternative system is based on 
something called self custody. 

873
00:46:56,000 --> 00:46:57,800
That might seem very aliens of 
people. 

874
00:46:57,800 --> 00:46:59,600
So that's one of the concerns I 
have. 

875
00:46:59,600 --> 00:47:01,900
That's one of the issues that I 
had to because it's like, yeah, 

876
00:47:01,900 --> 00:47:04,900
I could run my own, whatever, 
but it's like, I'll just use the

877
00:47:04,900 --> 00:47:07,000
main chain, because it's just so
much easier, right? 

878
00:47:07,100 --> 00:47:08,300
Right? 
And then mom came out, I was 

879
00:47:08,300 --> 00:47:10,800
like, oh great, I could keep a 
couple hundred dollars on here, 

880
00:47:10,900 --> 00:47:14,700
I don't have to worry about it. 
What is the status of that who's

881
00:47:14,700 --> 00:47:16,900
working on it? 
How long until that? 

882
00:47:17,000 --> 00:47:21,200
I want to say gets fixed, but 
where someone creates this very 

883
00:47:21,200 --> 00:47:25,600
intuitive in like makes it very 
easy, what the user experience, 

884
00:47:25,600 --> 00:47:30,800
what is the status of that? 
I think that user experience is 

885
00:47:30,900 --> 00:47:34,800
like, as you said, starting with
very clunky, it's still pretty 

886
00:47:34,800 --> 00:47:39,000
clunky, but it's getting there. 
It's getting to the point where,

887
00:47:39,100 --> 00:47:42,300
you know, no one needs to know 
needs to code in order to be 

888
00:47:42,300 --> 00:47:48,000
able to run a lightning node if 
you can spin up a Bitcoin node 

889
00:47:48,100 --> 00:47:51,700
like you're in business. 
Like this is, this is really all

890
00:47:51,700 --> 00:47:57,400
that's required and I think the 
technology is getting is rapidly

891
00:47:57,400 --> 00:47:59,800
improving. 
Things that I'm watching, 

892
00:48:00,000 --> 00:48:03,900
include green light, which 
allows you to not even have to 

893
00:48:03,900 --> 00:48:07,200
manage the channels manage the 
node at all. 

894
00:48:07,500 --> 00:48:11,600
But yet still be able to sign 
individual transactions. 

895
00:48:11,600 --> 00:48:17,600
So you control your money. 
But I mean, all of this comes 

896
00:48:17,600 --> 00:48:20,800
with trade-offs, of course. 
So it won't be your Hardware. 

897
00:48:21,100 --> 00:48:24,900
You won't be able to control the
uptime, of course block stream 

898
00:48:24,900 --> 00:48:29,200
as a pillar of the Bitcoin. 
Community. 

899
00:48:29,700 --> 00:48:33,700
I'm sure they've got some really
awesome Solutions in their back 

900
00:48:33,700 --> 00:48:36,900
pocket. 
But yeah, it's continuously 

901
00:48:36,900 --> 00:48:42,000
developing you can you can 
compare it to like buying a 

902
00:48:43,100 --> 00:48:46,100
clover setup for your business 
to accept credit card 

903
00:48:46,100 --> 00:48:48,000
transactions. 
Yeah. 

904
00:48:48,000 --> 00:48:51,500
You're probably going to blow 
$400 on one of those Terminals 

905
00:48:51,800 --> 00:48:56,600
and instead, you could have a 
completely self, Sovereign, 

906
00:48:56,900 --> 00:49:00,300
Bitcoin lightning node set. 
And be able to receive 

907
00:49:01,300 --> 00:49:03,800
dollar-denominated payments. 
If your pavement, if your 

908
00:49:03,800 --> 00:49:08,100
customers want to pay with 
strike, this is this is 

909
00:49:08,100 --> 00:49:12,000
something that yeah, we're just 
moving things one. 

910
00:49:12,000 --> 00:49:15,500
Step forward at a time. 
What happened? 

911
00:49:15,700 --> 00:49:17,100
What has you the last question? 
What? 

912
00:49:17,100 --> 00:49:19,000
How and then I'll pass it on to 
fill? 

913
00:49:19,000 --> 00:49:22,400
What has you the most exciting 
excited right now about the 

914
00:49:22,400 --> 00:49:26,000
future of lightning? 
Sorry. 

915
00:49:26,000 --> 00:49:28,900
I missed that bit wise. 
You what has you the most 

916
00:49:28,900 --> 00:49:30,700
exciting about the future of 
lightning? 

917
00:49:33,700 --> 00:49:37,900
I think tarot, so this is going 
to be other assets. 

918
00:49:37,900 --> 00:49:41,500
That would be issued on the 
lightning Network and what's 

919
00:49:41,500 --> 00:49:45,900
special about tarot compared to 
all the other proposals for 

920
00:49:45,900 --> 00:49:51,700
stable coins on lightning is 
that the any changes happen at 

921
00:49:51,700 --> 00:49:55,800
the edges. 
So in order to add another asset

922
00:49:55,800 --> 00:49:59,100
on to the lightning Network 
everybody that is already 

923
00:49:59,100 --> 00:50:02,200
participating in a lighting 
network, doesn't need to Inch 

924
00:50:02,200 --> 00:50:04,800
yet. 
They only participate when it 

925
00:50:04,800 --> 00:50:09,300
comes to transferring value. 
So one person can transfer 

926
00:50:09,300 --> 00:50:12,100
dollars at one end. 
It switches to the next note 

927
00:50:12,100 --> 00:50:15,700
it's at it gets routed through 
the lightning Network to someone

928
00:50:15,700 --> 00:50:18,400
else in another country that 
wants to receive pesos. 

929
00:50:18,400 --> 00:50:23,700
So this is, you know, there's 
there's no mental change needed 

930
00:50:23,700 --> 00:50:29,600
to happen to understand deeply 
Bitcoin, like, like we do all 

931
00:50:29,600 --> 00:50:32,600
they need to understand is you 
know, the Stable coin that 

932
00:50:32,600 --> 00:50:35,700
they've become familiar with 
which is the shit coin of their 

933
00:50:35,700 --> 00:50:41,400
Nation instead, they'll be using
the lightning and work just 

934
00:50:41,400 --> 00:50:45,800
because it's fast, it's cheap. 
And it has final settlement, 

935
00:50:46,700 --> 00:50:49,700
that's very, very, very fucking 
awesome. 

936
00:50:50,000 --> 00:50:53,400
Phil, would you have any final 
questions before we wrap it up? 

937
00:50:54,000 --> 00:50:57,800
No questions. 
But there's some let's move on. 

938
00:50:57,800 --> 00:50:59,000
No question. 
I'm just kidding. 

939
00:51:00,300 --> 00:51:04,700
Thank you for playing. 
No, but that just just some some

940
00:51:04,700 --> 00:51:06,500
final comments to add on to what
just aforesaid. 

941
00:51:06,500 --> 00:51:08,000
Right? 
Because I think I started 

942
00:51:08,000 --> 00:51:10,500
messing around with lightning 
around the same time as him and 

943
00:51:10,500 --> 00:51:13,700
just to give people you know, 
some further perspective to his 

944
00:51:13,700 --> 00:51:16,700
point three years ago you 
couldn't set up a node without a

945
00:51:16,700 --> 00:51:19,800
command prompt. 
The only node that you could was

946
00:51:19,800 --> 00:51:22,800
the chasm note and that note was
I had one. 

947
00:51:23,000 --> 00:51:27,300
It was very limited, very 
limited in its functionality. 

948
00:51:27,400 --> 00:51:29,900
You couldn't really see anything
that was going on. 

949
00:51:29,900 --> 00:51:31,700
You couldn't do any types of 
configurations. 

950
00:51:31,800 --> 00:51:34,100
Nations, it was very cut and 
dry. 

951
00:51:34,400 --> 00:51:40,300
Okay, so we have come Leaps and 
Bounds from that point to see 

952
00:51:40,300 --> 00:51:43,800
the development that we have an 
especially this is all not one 

953
00:51:43,800 --> 00:51:46,000
giant Corporation. 
These are all individual 

954
00:51:46,000 --> 00:51:50,200
entities, all working on the 
same protocol, okay? 

955
00:51:50,200 --> 00:51:52,700
This is really cool stuff. 
Well, three different protocols,

956
00:51:52,700 --> 00:51:55,400
but still like, if we look at 
everybody that is building on 

957
00:51:55,400 --> 00:51:57,900
lnd, they're all building 
separately in their building 

958
00:51:57,900 --> 00:52:00,500
amazing stuff. 
You know, between start9 between

959
00:52:00,500 --> 00:52:03,800
lightning labs and Anyways, the 
other piece that I was the other

960
00:52:03,800 --> 00:52:07,900
piece that I wanted to mention 
had to do with the user 

961
00:52:07,900 --> 00:52:12,200
experience, right. 
People don't like to feel change

962
00:52:12,200 --> 00:52:14,300
and what just a was just talking
about with tarot. 

963
00:52:14,500 --> 00:52:18,800
Okay, this is huge because one 
of the main issues that a lot of

964
00:52:18,800 --> 00:52:21,000
people, a lot of older people 
will tell you with Bitcoin is 

965
00:52:21,000 --> 00:52:24,400
that like all of a sudden they 
feel that they have to switch 

966
00:52:24,400 --> 00:52:28,200
their mind to something else to 
start thinking differently. 

967
00:52:28,200 --> 00:52:32,400
But when we can actually do this
kind of magic, Right in the 

968
00:52:32,400 --> 00:52:35,200
background and they can just see
something that is familiar to 

969
00:52:35,200 --> 00:52:38,400
them, but they can take 
advantage of the benefits of the

970
00:52:38,400 --> 00:52:41,800
Bitcoin Network. 
That's beautiful. 

971
00:52:42,500 --> 00:52:45,200
Anyways, awesome stuff man, I 
love what you're doing at am 

972
00:52:45,200 --> 00:52:47,000
boss. 
This is huge. 

973
00:52:47,100 --> 00:52:49,500
This is necessary. 
So thank you. 

974
00:52:49,600 --> 00:52:54,600
Okay, absolutely bullish. 
So remember guys, after after 

975
00:52:54,600 --> 00:52:58,100
this crazy day with the price in
the volatility, all that shit. 

976
00:52:58,100 --> 00:53:00,200
Look at all the bullishness, 
right. 

977
00:53:00,200 --> 00:53:03,100
If you ignore the noise and you 
pay attention to the signal, 

978
00:53:03,700 --> 00:53:05,700
could it be more bullish. 
But anyways, feel there was an 

979
00:53:05,700 --> 00:53:07,900
open source software released 
today, wanting to everybody 

980
00:53:07,900 --> 00:53:12,000
about it software releases 
brought to By Cipher safe, check

981
00:53:12,000 --> 00:53:14,400
them out. 
Cipher safe, dot IO. 

982
00:53:14,400 --> 00:53:19,200
The best place to store your 
Bitcoins seed, papers done, it 

983
00:53:19,200 --> 00:53:22,000
burns. 
It gets wet turns into mush 

984
00:53:22,000 --> 00:53:25,300
store your seat in the Cipher 
wheel or the all new Cipher 

985
00:53:25,300 --> 00:53:26,600
grid. 
They both come with a 

986
00:53:26,600 --> 00:53:30,200
tamper-resistant wire but the 
grid comes with a punch tool. 

987
00:53:30,400 --> 00:53:32,700
All right? 
We've got join Market version. 

988
00:53:32,700 --> 00:53:37,500
0.9 0.6 that was released its 
Down Below in the show notes. 

989
00:53:37,800 --> 00:53:40,400
Don't forget to check us out on 
our audio. 

990
00:53:40,400 --> 00:53:44,800
Oh, Only platforms Apple 
podcast, Spotify and anchor. 

991
00:53:45,000 --> 00:53:47,800
If you want to stream assets, 
you can do it through Fountain. 

992
00:53:47,800 --> 00:53:50,200
FM using Breeze. 
Awesome! 

993
00:53:50,200 --> 00:53:52,300
Thank you for all right, guys. 
Before we going to give a very 

994
00:53:52,300 --> 00:53:54,700
special shout-out to our awesome
clothing. 

995
00:53:54,700 --> 00:53:58,900
Sponsor. 
Represent LTD.com Phil and I 

996
00:53:58,900 --> 00:54:02,500
wear the hoodies every single 
day, Phil has the new Bitcoin, 

997
00:54:02,500 --> 00:54:04,600
Merce. 
He's going to come out with more

998
00:54:04,600 --> 00:54:07,200
Bitcoin merch as well and simply
Bitcoin marriage. 

999
00:54:07,200 --> 00:54:08,900
It's coming. 
You could take advantage of the 

1000
00:54:08,900 --> 00:54:12,300
link down below to get 10% off. 
Anything off the represent 

1001
00:54:12,300 --> 00:54:14,400
LTD.com store. 
I also want to give a very 

1002
00:54:14,400 --> 00:54:16,100
special shout-out to her. 
Awesome. 

1003
00:54:16,500 --> 00:54:18,800
Awesome. 
Dear friend of the show, we 

1004
00:54:18,800 --> 00:54:22,600
survived the bear Market 
together, the legendary Jessa 

1005
00:54:22,600 --> 00:54:25,600
fur. 
He co-founded ambos dot space. 

1006
00:54:25,600 --> 00:54:27,200
It's a lightning. 
Explore. 

1007
00:54:27,200 --> 00:54:29,100
Go check it out. 
Awesome. 

1008
00:54:29,100 --> 00:54:30,800
Dude. 
Cool stuff. 

1009
00:54:30,800 --> 00:54:32,400
He's working on guys. 
That was show. 

1010
00:54:32,400 --> 00:54:33,800
If you enjoyed the show you what
to do. 

1011
00:54:33,800 --> 00:54:37,600
Smash smash it, of course you 
want to continue here in the 

1012
00:54:37,600 --> 00:54:39,300
Bitcoin, used from the Polly 
Platt perspective in the 

1013
00:54:39,308 --> 00:54:41,600
catastrophic failure. 
I'll definitely consider 

1014
00:54:41,600 --> 00:54:44,200
subscribing to Simply Bitcoin. 
No see you tomorrow guys. 

1015
00:54:44,200 --> 00:54:47,900
For a brand new episode, the 
Bitcoin, Builders are building, 

1016
00:54:48,400 --> 00:54:49,300
that's all that matters.