1 00:00:06,840 --> 00:00:09,200 It's. All going to zero against 2 00:00:09,200 --> 00:00:11,680 Bitcoin. It's going up forever. 3 00:00:19,240 --> 00:00:23,960 You're against Bitcoin. You're against freedom, yo. 4 00:00:23,960 --> 00:00:26,320 Welcome to another episode of Simply Bitcoin Live, or your 5 00:00:26,320 --> 00:00:28,240 number one source for the peaceful Bitcoin revolution 6 00:00:28,240 --> 00:00:29,920 Cover breaking News. Culture Medic Warfare will be 7 00:00:29,920 --> 00:00:32,920 your guide through the separation of money and state. 8 00:00:32,920 --> 00:00:36,400 This is day #2 of Streaming Backstage from the 9 00:00:36,440 --> 00:00:39,960 Unconfiscatable conference which is going to start at 10:00 AM 10 00:00:39,960 --> 00:00:41,880 Pacific Time. So this is kind of like the 11 00:00:41,960 --> 00:00:45,480 prelude to that today's going to be a very special show at 12 00:00:45,720 --> 00:00:49,520 everyone is extremely excited about Bitcoin to the point that 13 00:00:49,520 --> 00:00:52,240 Bloomberg, you know this respectable financial 14 00:00:52,240 --> 00:00:56,720 publication is predicting essentially $500,000 Bitcoin. 15 00:00:57,040 --> 00:01:01,000 And this comes on the heels of Adam Back who's originally cited 16 00:01:01,000 --> 00:01:04,840 in the situation Bitcoin white paper predicting $700,000 17 00:01:04,840 --> 00:01:07,680 Bitcoin. Also, we're going to pull up a 18 00:01:07,680 --> 00:01:12,560 lot of data and a lot of facts that you could say support those 19 00:01:12,560 --> 00:01:14,880 arguments. There's this very, very famous 20 00:01:14,880 --> 00:01:18,000 Twitter spaces that Michael Saylor did, and he said that 21 00:01:18,000 --> 00:01:21,800 three things needed to happen in order for for Bitcoin to 10X 22 00:01:21,800 --> 00:01:24,280 from here, for Bitcoin to take it up to the next level. 23 00:01:24,520 --> 00:01:28,440 And those three things are #1. The FASB accounting rules 24 00:01:28,440 --> 00:01:29,800 change. Check that off. 25 00:01:29,800 --> 00:01:33,040 That already happened. A Black Rock or sorry, an an 26 00:01:33,040 --> 00:01:37,080 ETF, A Bitcoin ETF to be approved and the capability for 27 00:01:37,080 --> 00:01:41,400 big banks to custody Bitcoin for their institutional clients. 28 00:01:41,720 --> 00:01:44,520 There's been much news about that throughout the world. 29 00:01:44,520 --> 00:01:47,920 Many blank banks are applying for licenses to do that and 30 00:01:47,920 --> 00:01:51,120 building out the infrastructure. So it looks like all the planets 31 00:01:51,120 --> 00:01:54,440 are aligning and I think it's going to be a very, very 32 00:01:54,440 --> 00:01:57,720 exciting next couple of years. Also, we have a very, very 33 00:01:57,720 --> 00:02:00,640 special guest today. We have Romaine. 34 00:02:00,640 --> 00:02:04,560 Romaine is part of he is with Bai Sato. 35 00:02:05,160 --> 00:02:08,320 Romaine, thank you so much for joining us on Simply Bitcoin 36 00:02:08,320 --> 00:02:10,479 today. We're super, super happy to have 37 00:02:10,479 --> 00:02:12,960 you. Romaine does some very 38 00:02:12,960 --> 00:02:17,000 interesting things. Bitcoin mining, AI, this is so 39 00:02:17,000 --> 00:02:19,000 cool. I didn't even know that like was 40 00:02:19,000 --> 00:02:21,000 a thing. So Romaine, thank you so much 41 00:02:21,000 --> 00:02:24,680 for joining us today. Well, thank you very much for 42 00:02:24,680 --> 00:02:26,400 for having me. It's a pleasure to be in your 43 00:02:26,400 --> 00:02:27,600 show. It's a pleasure to be with you 44 00:02:27,600 --> 00:02:30,600 in Vegas even if I'm not there must be must be fun. 45 00:02:30,600 --> 00:02:33,840 And I've heard a great conference from from from your 46 00:02:33,840 --> 00:02:35,240 show from yesterday. Thank you. 47 00:02:36,760 --> 00:02:40,680 Yep. So Bitcoin miner super focusing 48 00:02:40,680 --> 00:02:42,360 on efficiency for mining Bitcoin. 49 00:02:42,440 --> 00:02:46,960 Frankly as you said adding AI into our our, our, our business 50 00:02:46,960 --> 00:02:50,840 because we think at the energy level we can transform energy 51 00:02:50,840 --> 00:02:53,960 for computing power for Bitcoin and for AI and HPC. 52 00:02:54,000 --> 00:02:57,920 So this is a kind of trend that you see not only with us in 53 00:02:57,920 --> 00:03:00,600 other Bitcoin manners. We have made announcements into 54 00:03:00,600 --> 00:03:05,360 moving AI or HPC. And again this is because our 55 00:03:05,360 --> 00:03:08,360 job at the end we transform energy into computing power. 56 00:03:08,640 --> 00:03:10,840 We can do what we can do for one, we can do for the other 57 00:03:10,840 --> 00:03:12,800 one. It's interesting for various 58 00:03:12,800 --> 00:03:14,840 reasons that I'm sure we will go over at some point. 59 00:03:15,480 --> 00:03:17,760 Yeah, absolutely. Well, it's an honor to have you 60 00:03:17,760 --> 00:03:21,000 on the show today remain and we're friends with anybody who 61 00:03:21,000 --> 00:03:24,320 is increasing the Bitcoin hash rate and further, you know, 62 00:03:24,320 --> 00:03:28,080 securing the network. I'm also joined today with my 63 00:03:28,080 --> 00:03:32,360 two Co host, my legendary Co host Optimus Fields, the Mr. of 64 00:03:32,360 --> 00:03:35,960 Flights and of course Ruston is with me today. 65 00:03:35,960 --> 00:03:38,760 He's the star of the Simply Bitcoin Originals. 66 00:03:38,960 --> 00:03:40,520 So it's going to be a great show. 67 00:03:40,520 --> 00:03:44,760 We're really looking forward to it and let's just jump straight 68 00:03:44,760 --> 00:03:46,320 into it. So let's start with numbers 69 00:03:46,320 --> 00:03:47,160 first. Let's go. 70 00:03:50,880 --> 00:03:54,640 The Bitcoin numbers. Is your Bitcoin in cold storage 71 00:03:54,640 --> 00:03:57,640 really secure? Is your seed phrase really 72 00:03:57,640 --> 00:03:59,160 secure? Stamp seeds? 73 00:03:59,160 --> 00:04:01,880 Do it yourself. Kit has everything you need to 74 00:04:01,880 --> 00:04:06,280 hammer your seed words into commercial grade titanium plates 75 00:04:06,480 --> 00:04:08,480 instead of just writing them on paper. 76 00:04:08,760 --> 00:04:11,960 Don't store your generational wealth on paper. 77 00:04:12,320 --> 00:04:14,880 Papers prone to water damage, fire damage. 78 00:04:15,040 --> 00:04:17,279 You want to put your generational wealth on one of 79 00:04:17,279 --> 00:04:20,399 the strongest metals on planet earth, Titanium. 80 00:04:20,399 --> 00:04:23,560 Your words are actually stamped into this metal plate with this 81 00:04:23,560 --> 00:04:27,000 hammer and these letter stamps. And once your words are in, they 82 00:04:27,000 --> 00:04:29,920 aren't going anywhere. No risk of the plate breaking 83 00:04:29,920 --> 00:04:32,320 apart and pieces falling everywhere. 84 00:04:32,480 --> 00:04:35,760 Titanium stamp seeds will survive nearly triple the heat 85 00:04:35,760 --> 00:04:38,240 produced by a house fire. They're also crush proof, 86 00:04:38,240 --> 00:04:40,920 waterproof, non corrosive, and time proof. 87 00:04:40,920 --> 00:04:43,600 All things that paper is not allowing you to huddle your 88 00:04:43,600 --> 00:04:46,600 Bitcoin with Peace of Mind for the long haul. 89 00:04:46,720 --> 00:04:51,120 Stamp your seed on stamp seed. All right guys, I made it super 90 00:04:51,120 --> 00:04:54,800 easy for you guys. You can use the the QR code on 91 00:04:54,800 --> 00:04:57,040 your screen right now. Take you directly to the stamp 92 00:04:57,040 --> 00:04:59,360 seed website and you can use promo code. 93 00:04:59,360 --> 00:05:03,400 Simply, we get 15% off. Don't put yourself in a position 94 00:05:03,400 --> 00:05:06,240 where you have to explain to your grandchildren why you lost 95 00:05:06,240 --> 00:05:09,920 your generational wealth. Put it on titanium anyways. 96 00:05:09,920 --> 00:05:14,600 At the time of recording, the Bitcoin price is 43,735 SATS per 97 00:05:14,600 --> 00:05:23,480 dollar. 2286 block height 820,284 blocks to having 19,716 98 00:05:23,600 --> 00:05:27,560 having estimate April 20th 2024 Total lighting Network capacity 99 00:05:27,760 --> 00:05:33,360 5038 Bitcoin capacity value 220 million U.S. dollars Realized 100 00:05:33,360 --> 00:05:37,280 Monetary inflation 1.75% The market capitalization of Bitcoin 101 00:05:37,280 --> 00:05:42,120 almost touching 1 trillion We're at 855 billion U.S. dollars. 102 00:05:42,320 --> 00:05:47,400 Bitcoin versus gold market cap 6.29% continues to crawl up ever 103 00:05:47,400 --> 00:05:50,040 so slowly. So Elizabeth Warren continues 104 00:05:50,040 --> 00:05:53,200 with her relentless attacks for anyone who is not based in the 105 00:05:53,280 --> 00:05:57,760 US Elizabeth Warren is AUS Senator from the state of 106 00:05:57,760 --> 00:06:00,920 Massachusetts. She also sits on the Senate 107 00:06:00,920 --> 00:06:03,600 Banking Committee. So she has a lot of influence 108 00:06:03,600 --> 00:06:06,320 when it comes to banking in the United States of America and 109 00:06:06,320 --> 00:06:09,120 she's took it upon herself. In fact, she's made it part of 110 00:06:09,120 --> 00:06:13,480 her campaign to take a quote UN quote anti crypto approach. 111 00:06:14,120 --> 00:06:18,320 You know, she was involved with the she took advantage of the 112 00:06:18,400 --> 00:06:20,880 bogus Wall Street Journal article that came out a couple 113 00:06:20,880 --> 00:06:25,280 weeks ago to write a letter to the White House. 114 00:06:25,440 --> 00:06:28,200 That prompted the White House to tap on the Treasury. 115 00:06:28,360 --> 00:06:32,480 And that prompted the Treasury to recommend the Fin CEN 116 00:06:32,480 --> 00:06:34,960 proposal, which took advantage of the Patriot Act, would 117 00:06:35,280 --> 00:06:39,920 basically surveil more Bitcoin of the more Bitcoin 118 00:06:39,920 --> 00:06:42,400 transactions, the industry, more regulation. 119 00:06:42,560 --> 00:06:45,640 And it was all based on a misrepresentation of data and 120 00:06:45,640 --> 00:06:48,200 facts, right? There was we played you the 121 00:06:48,200 --> 00:06:51,520 video yesterday on yesterday's episode where she was 122 00:06:51,520 --> 00:06:54,000 interviewing Jamie Dimon, Jamie Dimon saying we should, you 123 00:06:54,000 --> 00:06:57,000 know, ban this, all right. But she's really, really 124 00:06:57,000 --> 00:06:59,440 accelerating. You know, this is interview 125 00:06:59,440 --> 00:07:02,640 after interview after interview after interview just talking 126 00:07:02,640 --> 00:07:04,680 about, you know, Bitcoin is a threat. 127 00:07:04,760 --> 00:07:06,720 Bitcoin is a threat to national security. 128 00:07:06,720 --> 00:07:10,760 Bitcoin is a threat to America. And it's it's just crazy. 129 00:07:11,160 --> 00:07:13,000 But it's something that we've always said on the show on 130 00:07:13,000 --> 00:07:15,920 simply Bitcoin exposes incentives. 131 00:07:15,920 --> 00:07:18,440 That's really what it does. And I think that if you're 132 00:07:18,440 --> 00:07:23,720 someone like Elizabeth Warren who has, you know, $179,000 133 00:07:23,720 --> 00:07:26,840 salary but she's worth 10s of millions of dollars and makes 134 00:07:26,840 --> 00:07:29,560 you start to ask questions, I'm not making any assumptions. 135 00:07:29,560 --> 00:07:32,040 I'm not making any you know, any. 136 00:07:32,400 --> 00:07:33,720 I'm. I'm not accusing her of 137 00:07:33,720 --> 00:07:36,240 anything, but I'm just saying, you know that there is a money 138 00:07:36,240 --> 00:07:40,200 printer in Washington, DC anyways, so I do want to play 139 00:07:40,200 --> 00:07:43,440 you guys this video. It is, you know, TFTC did a 140 00:07:43,440 --> 00:07:46,080 great job reposting it originally. 141 00:07:46,080 --> 00:07:50,120 It is from Squawk Box, CNNBC. So the clip's about 3 minutes 142 00:07:50,120 --> 00:07:52,000 long. Let's check it out and then 143 00:07:52,120 --> 00:07:53,760 we'll all talk about it. We'll discuss it. 144 00:07:54,400 --> 00:07:56,920 I'm so curious what was going through your mind when you heard 145 00:07:56,920 --> 00:08:00,400 Jamie Dimon's response. Look, when Jamie Dimon and I are 146 00:08:00,400 --> 00:08:03,120 in exactly the same place, it's because we have a serious 147 00:08:03,120 --> 00:08:06,040 problem in this country, and that is a part of the financial 148 00:08:06,040 --> 00:08:09,800 system is being used by terrorists, by drug traffickers, 149 00:08:09,800 --> 00:08:12,880 by rogue nations in order to launder money, move money 150 00:08:12,880 --> 00:08:15,360 through the system and finance their illegal activities. 151 00:08:15,680 --> 00:08:18,440 But keep in mind on this one, it wasn't just Jamie Dimon. 152 00:08:18,880 --> 00:08:22,280 We had a long, long table with the CEOs of all of the largest 153 00:08:22,280 --> 00:08:24,960 banks in this country. And when I asked the question, 154 00:08:25,040 --> 00:08:28,400 should the rules that apply to their banks, and by the way, 155 00:08:28,480 --> 00:08:30,960 also apply to stock brokers and gold traders and credit card 156 00:08:30,960 --> 00:08:33,320 companies and credit unions and all the other financial 157 00:08:33,320 --> 00:08:37,520 transactors, Should those same rules to deal with drug 158 00:08:37,520 --> 00:08:40,480 trafficking and terrorism financing and rogue nation 159 00:08:40,480 --> 00:08:42,840 financing, Should the same rules be put in place? 160 00:08:43,280 --> 00:08:45,840 Every single one of them said absolutely. 161 00:08:46,160 --> 00:08:48,920 So what this tells me is it's time for Congress to act. 162 00:08:49,400 --> 00:08:51,480 Let me ask you, beyond Congress acting, there's a big question 163 00:08:51,480 --> 00:08:54,480 mark over whether the SEC is going to act on whether, for 164 00:08:54,480 --> 00:08:56,880 example, a Bitcoin ETF will ultimately get approved, which 165 00:08:56,880 --> 00:09:00,280 would expand access for for Americans all over the country 166 00:09:00,280 --> 00:09:02,120 potentially to invest in Bitcoin. 167 00:09:02,280 --> 00:09:04,320 You've probably watched the price of Bitcoin has risen quite 168 00:09:04,400 --> 00:09:06,520 materially even in the past several months in large part of 169 00:09:06,520 --> 00:09:09,320 the back of that expectation, You know Gary Gensler very well. 170 00:09:09,520 --> 00:09:11,840 Do you have any expectation that something like that would take 171 00:09:11,840 --> 00:09:14,360 place and would you support it? So I I don't want to speculate 172 00:09:14,360 --> 00:09:16,640 on what the SEC is doing here. I really want to draw an 173 00:09:16,640 --> 00:09:21,360 important distinction and that is the SEC principally is 174 00:09:21,360 --> 00:09:24,160 talking about regulation, the kind of monitoring the 175 00:09:24,160 --> 00:09:26,720 platforms, the markets, make sure that there's adequate 176 00:09:26,720 --> 00:09:30,080 consumer protection and issue that is built into the DNA of 177 00:09:30,080 --> 00:09:31,680 the SEC. It's an important thing to do. 178 00:09:31,680 --> 00:09:33,360 It's absolutely something they should do. 179 00:09:33,680 --> 00:09:36,320 What I'm talking about is the law enforcement aspect of this. 180 00:09:36,320 --> 00:09:38,240 It's not over at the regulatory agencies. 181 00:09:38,600 --> 00:09:41,920 What I'm talking about is the part of the system that make 182 00:09:41,920 --> 00:09:45,280 sure that banks are not being used for terrorist financing. 183 00:09:45,280 --> 00:09:47,520 For example, you know, we have something called the Bank 184 00:09:47,520 --> 00:09:51,760 Secrecy Act, which is how banks are required to monitor certain 185 00:09:51,760 --> 00:09:53,800 kinds of transactions that go through the system. 186 00:09:54,240 --> 00:09:58,120 It was written in the 1970s following 911. 187 00:09:58,480 --> 00:10:01,240 The law enforcement folks went back, looked at what had 188 00:10:01,240 --> 00:10:03,440 happened, figured out how the financing had made it through 189 00:10:03,440 --> 00:10:05,440 the system. And that's the last time that 190 00:10:05,440 --> 00:10:08,720 Congress updated the the Bank Secrecy Act. 191 00:10:08,720 --> 00:10:11,480 What we need to do is we need to update it again because there's 192 00:10:11,480 --> 00:10:13,720 a new threat out there. It's crypto, and it is being 193 00:10:13,720 --> 00:10:16,600 used for terrorist financing. It is being used for drug 194 00:10:16,600 --> 00:10:18,960 trafficking. North Korea is using it to pay 195 00:10:19,160 --> 00:10:21,920 for about half of its nuclear weapons program. 196 00:10:22,120 --> 00:10:27,040 We can't allow that to continue. So, OK, so a lot. 197 00:10:27,040 --> 00:10:29,160 You know, you're hearing this and you're like, wow, you know 198 00:10:29,160 --> 00:10:32,920 this, this this industry is, is is terrible. 199 00:10:32,920 --> 00:10:35,480 Like it's so many things. And she mentioned a couple 200 00:10:35,480 --> 00:10:37,600 things, so the terrorism. And then you have to connect 201 00:10:37,600 --> 00:10:39,840 that with the Wall Street Journal article which claimed 202 00:10:39,840 --> 00:10:44,120 initially at $130 million was raised using quote UN quote 203 00:10:44,120 --> 00:10:46,960 crypto. Sam Callahan did a great job and 204 00:10:46,960 --> 00:10:49,000 other bitcoiners. Preston Pitch wrote an amazing 205 00:10:49,000 --> 00:10:51,600 piece. The actual number was roughly 206 00:10:51,600 --> 00:10:57,840 $450,000, very, very, a lot smaller than that original, you 207 00:10:57,840 --> 00:11:01,280 know, $130 million claim. And then she mentioned North 208 00:11:01,280 --> 00:11:02,760 Korea. Now that's very interesting 209 00:11:02,760 --> 00:11:07,280 because North Korea was mentioned by the US Treasury 210 00:11:08,720 --> 00:11:11,640 when they sanctioned for the first time in American history, 211 00:11:11,760 --> 00:11:14,120 open source software. And I'm talking about tornado 212 00:11:14,120 --> 00:11:16,200 cash, right. So you can see the narrative 213 00:11:16,200 --> 00:11:19,960 that's being built here is the Bitcoin senator, Senator Cynthia 214 00:11:19,960 --> 00:11:24,640 Lummus, and she has the data. And the data points to a very, 215 00:11:24,640 --> 00:11:28,160 very different story because you hear that interview and 216 00:11:28,160 --> 00:11:31,200 essentially you're like, wow, the terrorism is being financed 217 00:11:31,200 --> 00:11:33,800 by crypto. Terrorism is being financed by 218 00:11:33,800 --> 00:11:36,400 Bitcoin. This is a major, major issue. 219 00:11:36,560 --> 00:11:39,800 But if you actually look at the data, you know, Senator Cynthia 220 00:11:39,800 --> 00:11:42,800 Lummus, you know, agrees with with the with the initial you 221 00:11:42,800 --> 00:11:44,640 know what we've been saying about the Wall Street Journal 222 00:11:44,640 --> 00:11:47,400 article, she says in an inaccurate report last week. 223 00:11:47,480 --> 00:11:51,640 Claimed Tomas raised nearly 100 million via crypto assets, in 224 00:11:51,640 --> 00:11:56,520 reality was less than 500,000. This in captain in encapsulated 225 00:11:56,520 --> 00:11:59,800 the misconception that crypto is a tool for illicit finance when 226 00:11:59,800 --> 00:12:05,560 it accounts for less than 1% of global illicit finance activity. 227 00:12:05,760 --> 00:12:08,360 And here's a graphic that we've been showing to you guys over 228 00:12:08,360 --> 00:12:11,760 the last couple days. Total illicit finance 2.9 229 00:12:11,760 --> 00:12:18,680 trillion crypto accounts for less than one percent .69% or 20 230 00:12:18,680 --> 00:12:23,400 billion of the total pie. Where does the the rest of that 231 00:12:23,400 --> 00:12:24,920 illicit finance happen? Where? 232 00:12:24,920 --> 00:12:27,200 Where? Where does it occur in the 233 00:12:27,200 --> 00:12:30,560 traditional financial system where the rules are already in 234 00:12:30,560 --> 00:12:33,920 place. So you know, it goes to question 235 00:12:34,080 --> 00:12:37,320 what are Elizabeth Warrens true motivations? 236 00:12:37,320 --> 00:12:40,240 What is she really, really, you know, what is, what is she 237 00:12:40,240 --> 00:12:43,400 really interested in here? So I'm going to pass that on to 238 00:12:43,520 --> 00:12:45,000 Romaine. And the way that I'm going to 239 00:12:45,000 --> 00:12:48,600 frame it to you, Romaine is, look, your business, you know, 240 00:12:48,600 --> 00:12:52,240 is based on Bitcoin and she's clearly she's taking it upon 241 00:12:52,240 --> 00:12:56,240 herself to attack the industry, you know, under the guise of 242 00:12:56,240 --> 00:12:59,000 money laundering, under the guise of terrorism, you know, 243 00:12:59,000 --> 00:13:02,200 any excuse, you know, under the sun essentially. 244 00:13:02,440 --> 00:13:05,680 So what is your take on this? Does this surprise you at all? 245 00:13:06,760 --> 00:13:10,040 Where's your stance? Well, it's not a surprise in the 246 00:13:10,040 --> 00:13:13,600 sense that it's not new but it hasn't started with Isabet 247 00:13:13,600 --> 00:13:15,440 Warren. It has started with every new 248 00:13:15,440 --> 00:13:18,480 inventions that was invented since the electricity. 249 00:13:19,080 --> 00:13:22,400 There is always someone who's against and try to reframe the 250 00:13:22,400 --> 00:13:26,520 use or having more people going into into that. 251 00:13:26,520 --> 00:13:29,240 Right now the cycle is about crypto and Bitcoin. 252 00:13:29,240 --> 00:13:33,920 And I think one one thing that she probably misunderstood is 253 00:13:33,920 --> 00:13:35,560 the difference between Bitcoin and crypto. 254 00:13:35,560 --> 00:13:37,560 She often talk about talks about crypto. 255 00:13:38,360 --> 00:13:42,520 We do Bitcoin, we are bitcoiner. Bitcoiner, as you know is a 256 00:13:42,520 --> 00:13:47,880 unbreakable blockchain makeable accounting method if you want on 257 00:13:47,880 --> 00:13:52,480 different kind of transactions. This is not used by terrorists. 258 00:13:52,520 --> 00:13:54,160 This is not used to do lender money. 259 00:13:54,200 --> 00:13:59,160 It's a fact. So I think that really at the 260 00:13:59,160 --> 00:14:02,520 end you will either fight the technology or you embrace it and 261 00:14:02,520 --> 00:14:05,920 you make sure that it's done correctly and not against rules. 262 00:14:05,920 --> 00:14:09,200 I think we need to have some rules at some point, at least 263 00:14:09,200 --> 00:14:10,920 little rules. But when you look in the US 264 00:14:10,920 --> 00:14:13,480 anyway, if you're in crypto, in this case not only in Bitcoin 265 00:14:13,480 --> 00:14:17,920 but in crypto, you're probably using what a Gemini, a base to 266 00:14:18,480 --> 00:14:22,920 do access and buy crypto, which is one is listed on the NASDAQ, 267 00:14:22,960 --> 00:14:26,640 the other one different kind of regulation in place, KYC, 268 00:14:26,640 --> 00:14:29,320 etcetera. So there are rules and we are so 269 00:14:29,320 --> 00:14:31,120 small today. I mean we were you are looking 270 00:14:31,120 --> 00:14:33,720 at your numbers, it's great. We are approaching the 1 271 00:14:33,720 --> 00:14:38,000 trillion valuation for Bitcoin. The gold valuation market cap is 272 00:14:38,000 --> 00:14:40,400 around 10 trillion. So we still have hope to go and 273 00:14:40,400 --> 00:14:44,280 hope to go we are not at the stage where we should or the the 274 00:14:44,280 --> 00:14:47,680 the government should refriend the use but more embrace it and 275 00:14:47,680 --> 00:14:49,000 make sure that it's done correctly. 276 00:14:49,200 --> 00:14:52,080 And honestly I think we are doing this way and when you look 277 00:14:52,080 --> 00:14:56,280 at Bitcoin miners like us who are publicly listed, we are more 278 00:14:56,280 --> 00:14:59,040 and more professional. It's it's over the time where 279 00:14:59,040 --> 00:15:03,920 some Bitcoin miners were edgy or bitcoiners were edgy, we we 280 00:15:03,920 --> 00:15:08,400 should have in 2910 eleven, 12. It's possible that Bitcoin was 281 00:15:08,400 --> 00:15:11,720 used for different kind of like operations that was borderline 282 00:15:11,720 --> 00:15:14,440 legal or illegal. It's not the case anymore. 283 00:15:14,480 --> 00:15:17,080 We are are. We are professionalizing 284 00:15:17,080 --> 00:15:22,400 ourselves and we are going showing the way and let's let's 285 00:15:22,440 --> 00:15:26,600 let's go for it. Yeah, 100%. 286 00:15:26,920 --> 00:15:31,400 And I think that you know it it's it's it's it's not 287 00:15:31,400 --> 00:15:33,720 surprising it's it's not surprising what you said and I 288 00:15:33,720 --> 00:15:36,840 and you you said something about any any new technology any new 289 00:15:36,840 --> 00:15:39,360 innovation. You know it's been attacked and 290 00:15:39,360 --> 00:15:43,080 it just kind of reminds me of this like caricature and I'm 291 00:15:43,080 --> 00:15:46,440 sure you're familiar with it romaine of the electricity in 292 00:15:46,440 --> 00:15:49,680 like the 1900s and essentially like you know this woman being 293 00:15:49,680 --> 00:15:53,120 like shocked to death just like don't electrify society is 294 00:15:53,120 --> 00:15:56,120 extremely dangerous and it just and it kind of reminds of what 295 00:15:56,120 --> 00:15:58,360 when you were saying that it just reminded me of that image 296 00:15:58,360 --> 00:16:01,200 for some reason. Anyways I'm going to pass it on 297 00:16:01,200 --> 00:16:01,760 to you. Rustin. 298 00:16:01,760 --> 00:16:03,600 Rustin, do you have a? Do you have any takes on this? 299 00:16:04,080 --> 00:16:08,200 All right, I got to be. I'm going to try it here because 300 00:16:08,200 --> 00:16:13,280 it's Liz and she just gets under my skin that that face her tone 301 00:16:13,280 --> 00:16:15,360 of voice. But let's get started here. 302 00:16:16,720 --> 00:16:20,440 Terrorism by crypto. You said it 400,000. 303 00:16:20,680 --> 00:16:24,880 What about 600 billion? Are are we going to talk about 304 00:16:24,880 --> 00:16:29,120 that and and Hamas or why aren't they pointing that out, See, 305 00:16:29,120 --> 00:16:32,280 this is the paint or the pot calling the kettle black. 306 00:16:32,560 --> 00:16:37,120 They are going to point out their own felonious activities 307 00:16:37,400 --> 00:16:39,480 and push that on to the other person. 308 00:16:40,280 --> 00:16:43,520 And when she was giving this spew in Congress, it was 309 00:16:43,520 --> 00:16:47,480 incredible because on live TV she was getting debunked by 310 00:16:47,480 --> 00:16:51,640 senators and also financial surveillance experts that broke 311 00:16:51,640 --> 00:16:55,640 down how these people are using sovereign funds and the Fiat 312 00:16:55,640 --> 00:16:58,400 system to to fund their activities. 313 00:16:58,720 --> 00:17:02,640 So we have that. And at the, she had just these 314 00:17:02,640 --> 00:17:06,599 people by the day are losing credibility on a massive scale 315 00:17:06,920 --> 00:17:10,520 and she was when she speaks to Jerome Powell and they're 316 00:17:10,520 --> 00:17:13,240 talking about the Fed and things, what she tries to say 317 00:17:13,240 --> 00:17:16,920 these people are price gouging. She has no understanding of 318 00:17:16,920 --> 00:17:20,800 basic economics. So that is very, I mean how do 319 00:17:20,800 --> 00:17:22,280 you get on the Banking Committee? 320 00:17:22,480 --> 00:17:25,920 I guess she's easy to manipulate and get them to support their 321 00:17:25,920 --> 00:17:31,000 narratives 'cause she's kind of incapable of thinking or but the 322 00:17:31,000 --> 00:17:34,520 government printing and stealing from people, that's going to go 323 00:17:34,520 --> 00:17:36,520 the way of the dinosaur just like Liz. 324 00:17:36,840 --> 00:17:40,400 And of course they want to keep that ability to to live rent 325 00:17:40,400 --> 00:17:43,040 free and provide no value. If you didn't have to do 326 00:17:43,040 --> 00:17:46,880 anything and you could live off free printed counterfeit money, 327 00:17:46,880 --> 00:17:49,000 I guess that's a good deal for some people. 328 00:17:49,280 --> 00:17:53,040 But again, the status or going to become extinct and that's 329 00:17:53,040 --> 00:17:54,880 going to coincide as they as they go. 330 00:17:55,040 --> 00:17:57,400 It's probably going to be a decade and that'll be bitcoins 331 00:17:57,400 --> 00:17:59,440 rise. Coinciding with that, the rise 332 00:17:59,440 --> 00:18:02,560 of freedom and prosperity, freeing ourselves from the 333 00:18:02,560 --> 00:18:05,000 shackles of the state and their ilk. 334 00:18:05,000 --> 00:18:08,600 Like Elizabeth Warren, their actions go against everything 335 00:18:08,600 --> 00:18:12,000 they try to preach or promote. So go ahead and look at that. 336 00:18:12,000 --> 00:18:14,240 Look at their actions, not their words. 337 00:18:14,240 --> 00:18:17,960 In North Korea. What kind of straw man, weak ass 338 00:18:17,960 --> 00:18:21,840 argument is this? They just they just spew. 339 00:18:22,960 --> 00:18:25,800 Out of the. Out of their mouth, OK. 340 00:18:26,080 --> 00:18:29,200 And they, it's just completely bonkers. 341 00:18:29,440 --> 00:18:32,560 And so I just can't wait until the tales of history come back 342 00:18:32,560 --> 00:18:37,840 and say maybe we should have had IQ tests or something along 343 00:18:37,840 --> 00:18:40,000 those lines when people came into the Senate. 344 00:18:40,280 --> 00:18:42,440 I don't know. It's I'm just brainstorming 345 00:18:42,440 --> 00:18:45,720 guys. But hey, I, I'm, I'm with Jack 346 00:18:45,720 --> 00:18:47,280 Ballers. Game over. 347 00:18:47,280 --> 00:18:49,240 We're going to the moon. See you, Liz. 348 00:18:50,960 --> 00:18:52,400 Wait, wait, wait before before I'm. 349 00:18:52,440 --> 00:18:54,800 Happy we have our in house Libertarian here. 350 00:18:54,800 --> 00:18:57,720 It's simply Bitcoin. OPTI, what the other side of the 351 00:18:57,720 --> 00:18:58,760 spectrum. What's your take? 352 00:18:58,840 --> 00:19:02,480 Well, I don't know if you guys noticed, but did you see when 353 00:19:02,480 --> 00:19:06,360 Elizabeth Warren or whatever you guys want to call her comes on? 354 00:19:06,600 --> 00:19:10,240 She literally couldn't not laugh when she started to talk about 355 00:19:10,240 --> 00:19:11,960 this. I I think this might have been 356 00:19:11,960 --> 00:19:14,280 one of those Freudian moments. She kind of like, giggled. 357 00:19:14,280 --> 00:19:16,840 And you're like sitting here like this is supposed to be 358 00:19:16,840 --> 00:19:20,400 serious and the first thing she does is start laugh and you're 359 00:19:20,400 --> 00:19:21,960 just like, what is going on here? 360 00:19:22,240 --> 00:19:23,720 It just it. It just. 361 00:19:23,760 --> 00:19:25,560 She. Knows her statement is so. 362 00:19:25,560 --> 00:19:30,000 Yeah, it's it's laughable. She's laughing on air and here 363 00:19:30,000 --> 00:19:31,840 we are. Everyone's taking her serious, 364 00:19:31,840 --> 00:19:33,400 like it. It's really incredible that this 365 00:19:33,400 --> 00:19:35,200 is where we are. You know everyone's favorite 366 00:19:35,200 --> 00:19:38,120 Karen out there is is is basically here to protect the 367 00:19:38,120 --> 00:19:41,560 world and and what she said, the last thing she said on that clip 368 00:19:41,560 --> 00:19:43,800 was we can't allow this to happen. 369 00:19:43,800 --> 00:19:45,720 Like, who is we that we're talking about? 370 00:19:45,720 --> 00:19:47,440 Who is this we? Because we? 371 00:19:47,560 --> 00:19:51,000 Can't allow this to happen. We should be looking at the 372 00:19:51,000 --> 00:19:56,760 banks and JP Morgan's well, well cited JP Morgan as like some St. 373 00:19:56,960 --> 00:20:01,040 like he has the moral like superiority to come out and talk 374 00:20:01,040 --> 00:20:04,160 about. Illegal activity what you know, 375 00:20:04,360 --> 00:20:07,000 what about the the old island financing in that? 376 00:20:07,320 --> 00:20:09,160 And it gets a little. Slap on the wrist. 377 00:20:09,160 --> 00:20:09,960 All right, all. Right. 378 00:20:10,200 --> 00:20:12,440 All right, let's reel it in. Let's reel it in. 379 00:20:12,720 --> 00:20:16,200 All right, I do want to give a shout out to our sponsor. 380 00:20:16,440 --> 00:20:18,080 They are a big supporter of the show. 381 00:20:18,080 --> 00:20:21,480 And of course I am talking about Bitcoin 2024. 382 00:20:21,600 --> 00:20:24,440 It's gonna be the largest Bitcoin conference on the in the 383 00:20:24,560 --> 00:20:29,000 on the planet July 25th through the 27th in Nashville, TN. 384 00:20:29,360 --> 00:20:31,120 You definitely don't want to miss it. 385 00:20:31,120 --> 00:20:32,600 You want to get your tickets quickly. 386 00:20:33,200 --> 00:20:36,640 If you can get yourself a GA ticket for 3:49 and Industry 387 00:20:36,640 --> 00:20:39,880 pass that gives you access to three days of the conference for 388 00:20:39,880 --> 00:20:44,320 1099 and a VIP access that gives you VIP pass and that gives you 389 00:20:44,320 --> 00:20:50,240 access to the Deep Backstage VIP Lounge for 4999 that I got to 390 00:20:50,240 --> 00:20:52,280 meet Tulsi Gabbard backstage last year. 391 00:20:52,600 --> 00:20:54,480 It was it was pretty cool. It was pretty cool. 392 00:20:54,480 --> 00:20:57,600 So I definitely don't want to definitely recommend going to 393 00:20:57,600 --> 00:20:59,560 this Bitcoin conference. It's the largest Bitcoin 394 00:20:59,560 --> 00:21:02,280 conference in the world and we have a promo code for you guys. 395 00:21:02,280 --> 00:21:06,200 You can use promo code simply to get a 10% discount to this 396 00:21:06,200 --> 00:21:10,040 Bitcoin conference, alright. This is the conference likely 397 00:21:10,040 --> 00:21:14,160 following a flood of ETF approvals and the halving going 398 00:21:14,160 --> 00:21:16,120 to be dope. Yep, it's it's the Bitcoin 399 00:21:16,120 --> 00:21:18,160 conference, the year of the halving, so it's definitely 400 00:21:18,160 --> 00:21:20,480 extremely exciting. All right, everybody, no more 401 00:21:20,480 --> 00:21:23,280 delay. Let's get into the culture so we 402 00:21:23,280 --> 00:21:25,520 can talk about Bisato. Let's check it out. 403 00:21:25,520 --> 00:21:30,840 Here we go. The Daily Culture. 404 00:21:31,760 --> 00:21:35,760 Brought to you by Swan bitcoin.com Swan is the best way 405 00:21:35,760 --> 00:21:39,080 to build your Bitcoin stack with automated Bitcoin savings plans 406 00:21:39,080 --> 00:21:43,840 and instant purchases serving clients of any size from $10 to 407 00:21:43,840 --> 00:21:46,520 $10 million. We love Swan because they 408 00:21:46,520 --> 00:21:50,080 incentivize self custody and dollar cost averaging. 409 00:21:50,200 --> 00:21:54,240 What are you waiting for? Visit swanbitcoin.com today. 410 00:21:55,600 --> 00:21:58,680 All right, everybody. We are going to talk about 411 00:21:58,880 --> 00:22:01,520 Bisato today. Opti, let's share the screen. 412 00:22:01,520 --> 00:22:04,040 Here we go. We're putting it up on the 413 00:22:04,040 --> 00:22:06,640 screen right now. Russian, you have some questions 414 00:22:06,640 --> 00:22:08,160 prepared. Why don't you jump into it? 415 00:22:08,640 --> 00:22:12,280 Man, I'm so excited to get this going, 'cause the pairing of 416 00:22:12,280 --> 00:22:16,760 mining with AI just got my mind going in so many directions. 417 00:22:16,760 --> 00:22:21,280 But just to get started, what are, you know, kind of the ethos 418 00:22:21,280 --> 00:22:24,560 and mission behind by Sato and what are you guys seeking to 419 00:22:24,560 --> 00:22:27,360 accomplish? And you know, what are kind of 420 00:22:27,360 --> 00:22:30,920 the implications of AI in Bitcoin mining and where are you 421 00:22:30,920 --> 00:22:35,320 looking to take all that? Well, thank you for giving me 422 00:22:35,320 --> 00:22:38,960 the opportunity to do it. Simply put, long term we're 423 00:22:39,040 --> 00:22:42,960 building ultra efficient infrastructure for managing 424 00:22:42,960 --> 00:22:45,800 computing power. Originally we started with 425 00:22:45,800 --> 00:22:48,760 Bitcoin mining in 2017. I started the company myself. 426 00:22:48,760 --> 00:22:50,680 I'm an entrepreneur for the past 25 years. 427 00:22:50,720 --> 00:22:53,480 I started with the Internet back in 1995. 428 00:22:53,480 --> 00:22:55,840 I've seen also the people fighting Internet the same way 429 00:22:55,840 --> 00:22:57,160 that they are fighting Bitcoin right now. 430 00:22:57,200 --> 00:22:58,680 So I've seen it. I know where it is. 431 00:22:58,960 --> 00:23:02,440 I'm not the only one of course, but this is a kind of like a 432 00:23:02,560 --> 00:23:03,840 story I'm bringing to the company. 433 00:23:04,480 --> 00:23:06,520 When we started originally it was so fun. 434 00:23:06,520 --> 00:23:09,040 We were like, hey, big in technology. 435 00:23:09,040 --> 00:23:11,760 Bitcoin is great, Bitcoin mining sounds simple and easy. 436 00:23:11,760 --> 00:23:16,320 We were living in New York and we decided to find a mining site 437 00:23:16,320 --> 00:23:19,440 and we found Q1 of the best place in the world for mining 438 00:23:19,440 --> 00:23:23,240 Bitcoin because not only the energy is renewable but it's 439 00:23:23,240 --> 00:23:25,600 stable and it's also super well priced. 440 00:23:25,600 --> 00:23:31,080 We pay on 44.3 cents a kWh, so it means an electricity price 441 00:23:31,520 --> 00:23:36,800 for the full year of 2023 until today, the cost of producing one 442 00:23:36,800 --> 00:23:40,440 Bitcoin electricity is on $14,000 one four in US. 443 00:23:41,080 --> 00:23:42,400 So it's an extremely great price. 444 00:23:42,400 --> 00:23:47,240 It's an extremely great buying price of the Bitcoin and even 445 00:23:47,240 --> 00:23:51,360 better when the Bitcoin goes to the 4344 and we hope way higher 446 00:23:51,360 --> 00:23:54,480 depending on the prediction that you you said earlier. 447 00:23:55,720 --> 00:23:57,360 So that's that's that's who we are. 448 00:23:57,360 --> 00:24:02,280 We're publicly listed in 2021 a little bit at the late stage of 449 00:24:02,280 --> 00:24:06,680 the last bull market. We listed on the Canadian market 450 00:24:07,080 --> 00:24:12,360 for Satoshi Nakamoto obviously and we are also available in the 451 00:24:12,680 --> 00:24:18,040 US under the ticker OTCQBCCPU dot F So it's very easy to to to 452 00:24:18,040 --> 00:24:21,120 find us and of course people can go on our website. 453 00:24:22,200 --> 00:24:26,040 We wanted to get listed one first to to bring some some kind 454 00:24:26,040 --> 00:24:30,280 of transparency into the industry and being listed this 455 00:24:30,280 --> 00:24:33,440 is what it is you need to show. We did, we had to show the four 456 00:24:33,440 --> 00:24:36,040 years or five years of of full account edited account. 457 00:24:36,640 --> 00:24:39,320 We are publishing our financial every quarter. 458 00:24:39,320 --> 00:24:43,200 We are publishing monthly our numbers about our production. 459 00:24:43,520 --> 00:24:45,720 Today we run 20 megawatts of energy. 460 00:24:45,720 --> 00:24:50,840 We are present a little bit less than 0.1, 25% of the total high 461 00:24:50,840 --> 00:24:55,160 shape network. We run start computers and we 462 00:24:55,160 --> 00:24:56,800 make our own serve Bitcoin per month. 463 00:24:57,600 --> 00:24:59,680 We're not the bigger, we are bigger than us. 464 00:25:00,520 --> 00:25:04,160 But in the industry the the the one wins are the most performant 465 00:25:04,160 --> 00:25:06,360 and the more efficient. And that's what we have built 466 00:25:07,040 --> 00:25:11,800 because we are transforming our energy ourselves into computing 467 00:25:11,800 --> 00:25:13,840 power. And this is where the link 468 00:25:13,840 --> 00:25:17,560 happens with AI, because what we've learned, what we've done, 469 00:25:17,560 --> 00:25:20,560 the way we manage our infrastructure, yes, it will be 470 00:25:20,560 --> 00:25:23,720 different for AI and HPC. You don't run the same type of 471 00:25:23,720 --> 00:25:26,200 data centres or AI and HPC. You have one need to have 472 00:25:26,200 --> 00:25:30,560 redundancy in electricity or higher cooling system, Internet 473 00:25:30,560 --> 00:25:33,520 access that the generators exist and this kind of stuff. 474 00:25:35,320 --> 00:25:39,120 However, the magical thing we have in Bitcoin mining, as you 475 00:25:39,120 --> 00:25:42,600 know is the curtailment or the demand response that we can. 476 00:25:42,600 --> 00:25:45,840 We are the only industry technologies technologically 477 00:25:45,840 --> 00:25:49,800 speaking, who can turn the turn the computer off and on in 478 00:25:49,800 --> 00:25:53,880 milliseconds or seconds and that way we can balance an an 479 00:25:53,880 --> 00:25:56,800 electrical grid and by mixing AI. 480 00:25:57,240 --> 00:26:00,360 Our vision is that we will be able to manage a grid with BECO 481 00:26:00,400 --> 00:26:06,440 mining and keep a A a stable energy for AI and HPC and that 482 00:26:06,440 --> 00:26:10,960 way we can continue using the energy at the local level where 483 00:26:10,960 --> 00:26:12,760 we operate. For example, in Quebec, we're in 484 00:26:12,760 --> 00:26:15,520 a city called Joliet. Somehow we're north of mental 485 00:26:15,520 --> 00:26:17,480 health. It's a very lovely city. 486 00:26:18,800 --> 00:26:22,200 But with us they have been able to monetize the energy that was 487 00:26:22,200 --> 00:26:24,720 wasted before. They've been able to make more 488 00:26:24,720 --> 00:26:27,960 revenues from it, more margin from it that they can distribute 489 00:26:27,960 --> 00:26:31,680 to the constituent. We have employees, not a lot. 490 00:26:31,680 --> 00:26:33,960 It's true in become mining, we don't have lots of employees, 491 00:26:33,960 --> 00:26:37,960 but also in Quebec there are they have no unemployment 492 00:26:37,960 --> 00:26:40,200 issues. We have also made work with a 493 00:26:40,200 --> 00:26:43,680 lot of contractors around the city where we are probably like 494 00:26:43,680 --> 00:26:47,240 3 or $4 million electrician, constructors, construction 495 00:26:47,240 --> 00:26:51,080 etcetera. So it's bringing about revenues 496 00:26:51,080 --> 00:26:54,520 and it's been getting wealth to the to the local level. 497 00:26:54,520 --> 00:26:57,880 We are and what we are trying to anyone having like this local 498 00:26:57,920 --> 00:27:00,160 approach, but what we are trying to do is to show the benefit we 499 00:27:00,160 --> 00:27:04,160 can make at the at this local, at this local approach and then 500 00:27:04,160 --> 00:27:07,360 show how it could be made at the state or even at the country 501 00:27:07,360 --> 00:27:11,720 level managing the grid for the next 15 to 20 years for 502 00:27:11,720 --> 00:27:13,760 computing power. It's not only Bitcoin mining, 503 00:27:13,760 --> 00:27:16,280 it's certainly also competing for for AI and HPC. 504 00:27:17,400 --> 00:27:24,480 My my guess is that the demand for AI has been undervalued by 505 00:27:24,480 --> 00:27:27,040 the market. We're going to need way more and 506 00:27:27,040 --> 00:27:29,160 in order to have computing power originally need to have 507 00:27:29,160 --> 00:27:31,920 electricity and you need to have people who know how to transfer 508 00:27:31,920 --> 00:27:34,800 this electricity to computing power and that's what that's 509 00:27:34,800 --> 00:27:36,200 what we do. I'm going to stop here. 510 00:27:37,040 --> 00:27:38,640 I don't. I don't want to continue for for 511 00:27:39,040 --> 00:27:42,760 too long. No, man, thank you so much. 512 00:27:43,560 --> 00:27:47,400 That kind of flows in perfect. So Sato, you guys are really 513 00:27:47,400 --> 00:27:51,680 into sustainability and So what do you aim to do with that and 514 00:27:51,680 --> 00:27:56,640 you have that cheap access and how do you particularly aim at 515 00:27:56,640 --> 00:28:00,720 hydroelectric powered operations like that in Quebec and that 516 00:28:00,720 --> 00:28:03,280 load shedding agreements? How does that work for you guys 517 00:28:03,280 --> 00:28:07,000 in the economics there and especially in like Canada where 518 00:28:07,000 --> 00:28:10,520 you have these just Wicked Winters and how does that work 519 00:28:10,520 --> 00:28:14,360 and benefit, benefit just the people in that community where 520 00:28:14,360 --> 00:28:17,480 the miners are? Yeah, very great question. 521 00:28:17,480 --> 00:28:20,440 The benefit because they can get energy when it's cold, that's 522 00:28:20,440 --> 00:28:22,760 what happened with us in Quebec in winter. 523 00:28:24,040 --> 00:28:27,040 Sometimes the electricity providers, they need to manage a 524 00:28:27,080 --> 00:28:30,480 peak of activity coming from the the hectares in the in the 525 00:28:30,520 --> 00:28:36,160 houses and by turning off our energy they can then use the 526 00:28:36,160 --> 00:28:39,280 energy to their Max because the municipality we're in. 527 00:28:39,280 --> 00:28:41,400 In some way it's similar to APPA. 528 00:28:41,400 --> 00:28:44,360 You have a maximum of energy they can use. 529 00:28:44,400 --> 00:28:46,560 So I'm going to give you an example. 530 00:28:46,560 --> 00:28:50,960 Let's say they have 100 megawatts of energy they can 531 00:28:50,960 --> 00:28:53,000 use. They want to to run their 532 00:28:53,000 --> 00:28:55,280 operation at 80 MW because you don't want to run your 533 00:28:55,280 --> 00:28:59,280 electricity and then your system at 100% you want to distance and 534 00:28:59,280 --> 00:29:03,480 there are CT used 60 megawatts and they have this 20 MW that 535 00:29:03,520 --> 00:29:06,960 wasn't used before. But they need this 80 MW of this 536 00:29:06,960 --> 00:29:11,160 extra 10 to 20 MW because in winter, during the day or during 537 00:29:11,160 --> 00:29:14,280 the night they have a peak of demand and then they need to 538 00:29:14,320 --> 00:29:17,360 produce more energy and send more energy to to the resident. 539 00:29:18,120 --> 00:29:21,800 Before us because of this peak they were not able to sell this 540 00:29:21,800 --> 00:29:23,840 energy with us. They can sell this energy. 541 00:29:23,920 --> 00:29:29,960 This is why it's major and This is why at the local level we are 542 00:29:29,960 --> 00:29:32,280 already bringing some art for for the population. 543 00:29:32,400 --> 00:29:35,000 We are not using energy could be used for something else. 544 00:29:35,000 --> 00:29:38,680 We are just using an an wasted energy that we can use for big 545 00:29:38,680 --> 00:29:42,640 cut mining. I I want to focus on that last 546 00:29:42,640 --> 00:29:45,080 part because I thought could you wide shot it. 547 00:29:45,080 --> 00:29:48,440 Thank you Murphy. So I want to focus on that last 548 00:29:48,440 --> 00:29:53,000 part, which is this idea that Bitcoin mining, you said it was 549 00:29:53,000 --> 00:29:55,400 wasted energy, and that's a misconception. 550 00:29:55,400 --> 00:29:58,080 That's something that's one of the like a talking points. 551 00:29:58,080 --> 00:30:01,760 Essentially, Bitcoin mining uses too much energy. 552 00:30:01,760 --> 00:30:05,400 Well, no, Bitcoin mining uses energy that was already going to 553 00:30:05,400 --> 00:30:09,720 waste because if it was being used, it wouldn't be economical 554 00:30:09,720 --> 00:30:12,400 for Bitcoin miners to use that set energy, right. 555 00:30:12,400 --> 00:30:15,600 And they paint this misconception in the media of, 556 00:30:15,600 --> 00:30:17,640 you know, Bitcoin miners just setting up shop in the middle of 557 00:30:17,640 --> 00:30:20,280 the city and just bringing up the prices up for everybody. 558 00:30:20,560 --> 00:30:21,880 That doesn't make any sense, right? 559 00:30:21,880 --> 00:30:24,360 Bitcoin miners are like water. They're going to flow to the 560 00:30:24,360 --> 00:30:27,960 cheapest electricity sources because that makes it the most 561 00:30:27,960 --> 00:30:31,280 economical for them, and that creates and and remain. 562 00:30:31,280 --> 00:30:34,800 And then this topic itself is fascinating to me because for 563 00:30:34,800 --> 00:30:39,640 the first time in human history we have something that monetizes 564 00:30:40,280 --> 00:30:44,280 wasted energy or stranded energy, nothing else before 565 00:30:44,280 --> 00:30:48,800 that. Maybe I'm, I'm incorrect here 566 00:30:48,800 --> 00:30:51,800 but you know my memory I I can't think of anything else that 567 00:30:52,200 --> 00:30:55,320 gives the stranded energy this wasted energy value and you're 568 00:30:55,320 --> 00:30:58,000 seeing that along many, many fields, right. 569 00:30:58,000 --> 00:31:02,760 So you have hydro you have that otherwise could potentially be 570 00:31:02,760 --> 00:31:04,840 very stranded because it was in a remote area. 571 00:31:05,120 --> 00:31:08,320 You have flared gas. You have methane, you have all 572 00:31:08,320 --> 00:31:12,280 these, you know, different types of, you know, wasted energy, 573 00:31:12,280 --> 00:31:14,840 stranded energy that's somehow being monetized. 574 00:31:14,840 --> 00:31:18,040 So can you talk a little bit about that, about how Bitcoin is 575 00:31:18,040 --> 00:31:20,560 changing the energy industry itself? 576 00:31:21,440 --> 00:31:24,080 Yeah, commonly I go with you. I mean, it's unique. 577 00:31:24,920 --> 00:31:27,960 Only Bitcoin can provide this kind of flexibility with the 578 00:31:27,960 --> 00:31:31,160 computing power that they're providing. 579 00:31:31,560 --> 00:31:34,600 So we can really deploy. We decided to be incorrect. 580 00:31:34,960 --> 00:31:39,560 It's a it's a one provider of energy, 97% is hydro 581 00:31:39,560 --> 00:31:43,360 electricity. In the rest it's biomass, wind 582 00:31:43,360 --> 00:31:46,280 and solar, but almost producing no carbon emission. 583 00:31:47,120 --> 00:31:50,760 But in in more than us and and and for the whole industry and 584 00:31:50,760 --> 00:31:54,640 the Bitcoin industry, we can go where energy is wasted, usually 585 00:31:54,640 --> 00:31:59,880 at low cost and we can sometimes even lower the carbon footprint, 586 00:32:00,400 --> 00:32:02,320 mainly with slag as as you were mentioning. 587 00:32:02,840 --> 00:32:06,360 And there are studies probably that from this that you've known 588 00:32:06,360 --> 00:32:11,160 called Daniel are showing how the renews of the metal from the 589 00:32:11,160 --> 00:32:14,280 flag gas and the CO2 could be reduced into energy and then 590 00:32:14,560 --> 00:32:18,200 even lower the temperature of the Earth in the coming in the 591 00:32:18,200 --> 00:32:20,760 coming years for the Paris Climate Accord. 592 00:32:20,760 --> 00:32:24,280 I think that is for 26 or maybe a little bit more. 593 00:32:24,680 --> 00:32:28,880 So it's really the only energy. The only technology companies 594 00:32:28,880 --> 00:32:32,720 that can do that Marathon have started to do are are converting 595 00:32:32,720 --> 00:32:35,920 energy from waste. So the waste, the trash and 596 00:32:35,920 --> 00:32:39,160 really from from from our life. Instead of putting them in a 597 00:32:39,160 --> 00:32:43,000 field you can use the metal it creates or you can burn them. 598 00:32:43,000 --> 00:32:47,560 Some miners are using burning, burning tyres and reusing the 599 00:32:47,560 --> 00:32:52,000 heat to produce energy. The beauty of Bitcoin is that we 600 00:32:52,000 --> 00:32:56,040 are focusing on efficiency and if we want to survive we need to 601 00:32:56,040 --> 00:32:58,080 be efficient. And to be efficient we will need 602 00:32:58,080 --> 00:33:00,080 to find this kind of phrase And this is what I love this 603 00:33:00,080 --> 00:33:02,400 industry that's why I'm passionated with with with what 604 00:33:02,400 --> 00:33:04,680 we do. Because it's not only us we I 605 00:33:04,760 --> 00:33:08,200 mean we have the electricity we are reusing our heat for example 606 00:33:08,200 --> 00:33:13,160 and more and more become miners. Also using your your there if we 607 00:33:13,160 --> 00:33:18,480 can do it for heating augments and all of a sudden not only you 608 00:33:18,480 --> 00:33:20,920 heat apart your apartment but you make it cut at the same 609 00:33:20,920 --> 00:33:23,400 time. Innovation is everywhere. 610 00:33:23,400 --> 00:33:26,120 It's only the beginning. But the bottom line is that we 611 00:33:26,120 --> 00:33:29,840 are focusing on efficiency and this efficiency it was it is 612 00:33:29,840 --> 00:33:32,240 what is needed in the next again five years. 613 00:33:32,320 --> 00:33:35,080 I don't want to send to long term vision and etcetera. 614 00:33:35,080 --> 00:33:40,800 But we are at the verge I think where the environment debate is 615 00:33:40,800 --> 00:33:42,600 behind us. Maybe I'm a little bit 616 00:33:42,600 --> 00:33:45,040 optimistic maybe it's going to take more and when I see Senate 617 00:33:45,040 --> 00:33:48,920 of that well and I understand that we still have some some 618 00:33:49,160 --> 00:33:53,200 some some work to do. But I really believe that in in 619 00:33:53,200 --> 00:33:57,120 today's world efficiency and using the energy the right way 620 00:33:57,520 --> 00:34:00,320 for computing power is something that is needed everywhere. 621 00:34:00,680 --> 00:34:03,400 If you are government and if you don't have that ready in your 622 00:34:03,400 --> 00:34:07,000 country, you will lose your efficiency not only as a as a 623 00:34:07,000 --> 00:34:11,440 country but for your citizen, your companies and at some point 624 00:34:11,440 --> 00:34:14,159 they will need to contact and use. 625 00:34:14,360 --> 00:34:17,679 This is also the beauty of being in Northern America, Canada, US. 626 00:34:17,679 --> 00:34:21,320 It's a kind of a free market. It's a private companies even if 627 00:34:21,320 --> 00:34:23,520 we're public, but the the private projects that can 628 00:34:23,719 --> 00:34:26,920 finance themselves use the network of companies like US 629 00:34:27,159 --> 00:34:29,400 Ultra professional. We are not the owner and we have 630 00:34:29,400 --> 00:34:32,560 huge companies who are listed on the NASDAQ doing what we do. 631 00:34:33,040 --> 00:34:35,600 We are listed in in Canada under Inter GSXV. 632 00:34:36,760 --> 00:34:40,080 We want to follow these steps. We've seen the success from Iris 633 00:34:40,199 --> 00:34:44,360 Clean, Spark, Big Farm. We've seen, we've seen how they 634 00:34:44,360 --> 00:34:47,040 were able to deploy capital and to grow intelligently. 635 00:34:47,360 --> 00:34:50,360 We want to follow that step and grow and and and add more 636 00:34:50,360 --> 00:34:53,320 computing power for Bitcoin where Bitcoin deliver. 637 00:34:53,320 --> 00:34:57,400 We love Bitcoin for a long time. We are even developing 638 00:34:57,400 --> 00:35:01,200 applications for the lighting network and ordinals because we 639 00:35:01,200 --> 00:35:04,720 want to provide infrastructure also for the software part. 640 00:35:04,720 --> 00:35:06,200 This is also where I'm coming from. 641 00:35:06,200 --> 00:35:12,560 I was more coming from the the software part earlier and yeah 642 00:35:12,560 --> 00:35:17,000 the the, the innovation in our industry is so key that I think 643 00:35:17,000 --> 00:35:20,400 it's only going to go and be developed and and and asked to 644 00:35:20,400 --> 00:35:23,360 run other become manners. I think it's clean, clean spark. 645 00:35:23,360 --> 00:35:26,120 They are developing themselves in Georgia, in the state of 646 00:35:26,120 --> 00:35:29,560 Georgia they have this local approach showing that we can win 647 00:35:30,400 --> 00:35:33,440 at the local approach will make us even more at the global 648 00:35:33,440 --> 00:35:35,640 approach. It's going to take time. 649 00:35:35,640 --> 00:35:38,040 It's true that governments around the world can change 650 00:35:38,240 --> 00:35:42,280 etcetera, but more and more placing in the wall start to 651 00:35:42,280 --> 00:35:46,240 realize the beauty of Bitcoin as a store value international 652 00:35:46,240 --> 00:35:50,000 transaction and maybe one day the the the guy dream of the 653 00:35:50,000 --> 00:35:52,160 peer-to-peer network marathon solution. 654 00:35:53,000 --> 00:35:54,480 In the meantime, it's it's, it's. 655 00:35:54,480 --> 00:35:58,760 Happening today, Yeah. And and and I I wanted to double 656 00:35:58,760 --> 00:36:02,600 back on something that you said in the beginning romaine about 657 00:36:02,600 --> 00:36:06,960 you being you've been an entrepreneur since the, you 658 00:36:06,960 --> 00:36:09,440 know, since the 90s, you saw the rise of the Internet. 659 00:36:10,280 --> 00:36:11,960 Is there something unique about Bitcoin? 660 00:36:11,960 --> 00:36:15,680 Is there something about Bitcoin that you've never seen before? 661 00:36:15,680 --> 00:36:18,120 Because I've I've, I've had this conversation with multiple 662 00:36:18,120 --> 00:36:20,760 entrepreneurs and they're like this thing is special. 663 00:36:20,760 --> 00:36:23,640 So is that something that you've experienced too? 664 00:36:23,640 --> 00:36:26,760 Because you've seen the rise and falls of of many things you've 665 00:36:26,760 --> 00:36:29,400 experiencedthe.com, bustthe.com boom. 666 00:36:30,280 --> 00:36:33,280 So is there something about Bitcoin that makes it different? 667 00:36:33,720 --> 00:36:36,640 And if it it is different, why is it different? 668 00:36:36,640 --> 00:36:38,520 Why is it unique? Is there something? 669 00:36:38,680 --> 00:36:41,480 So, and I'll describe it from, from my point of view, right, 670 00:36:41,840 --> 00:36:45,120 It's like, yes, it's not only the it's not only a technology, 671 00:36:45,120 --> 00:36:48,080 but there's something revolutionary about this. 672 00:36:48,080 --> 00:36:49,640 There's something that hits the soul. 673 00:36:49,640 --> 00:36:53,360 Maybe it's money itself. Maybe it's because money, as 674 00:36:53,360 --> 00:36:56,520 much as people don't like to admit it, money plays a critical 675 00:36:56,520 --> 00:36:59,680 role in society. It's half of every transaction. 676 00:36:59,920 --> 00:37:03,600 And if that money is broken, if that money is corrupted, you 677 00:37:03,600 --> 00:37:05,680 know that has downstream effects. 678 00:37:05,920 --> 00:37:08,200 So I want to get your take on that remain. 679 00:37:08,520 --> 00:37:11,400 Clearly you're a veteran, you've been here, you've done this for 680 00:37:11,400 --> 00:37:13,400 a while. What's your take on that? 681 00:37:14,920 --> 00:37:17,520 Well, last question. Yes, Bitcoin is special. 682 00:37:17,840 --> 00:37:21,080 Bitcoin is magical. It's something that has never 683 00:37:21,080 --> 00:37:23,400 been done before, invented before. 684 00:37:23,560 --> 00:37:26,440 It's touching a lot of things as you said from technology to 685 00:37:26,520 --> 00:37:35,840 finance to freedom to worldwide payment system and solution of 686 00:37:35,840 --> 00:37:39,480 exchange and communication. It's it's opening everything and 687 00:37:39,480 --> 00:37:44,000 in that way I think Bitcoin is is really unique in in what they 688 00:37:44,000 --> 00:37:46,440 have done and and working on it today I think there is nothing 689 00:37:46,440 --> 00:37:49,000 better. There is also it's interesting 690 00:37:49,000 --> 00:37:52,560 to to note the vision where Bitcoin and Satoshi could become 691 00:37:52,560 --> 00:37:56,760 the the, the the currency of AI in some ways because they are 692 00:37:57,360 --> 00:37:59,640 you need to create some kind of request back and forth. 693 00:37:59,640 --> 00:38:03,400 You can monetize this with SAT. You can also use the SATS as the 694 00:38:03,440 --> 00:38:07,280 and the transaction Ledger and lots of things could could 695 00:38:07,280 --> 00:38:09,360 happen. So it's really interesting to to 696 00:38:09,360 --> 00:38:12,440 to to see the range of Bitcoin and and also one thing that is 697 00:38:12,440 --> 00:38:15,000 interesting right now is is what's happening with ordinals. 698 00:38:15,400 --> 00:38:18,160 I know it's a big debate. You have some Maxis who are 699 00:38:18,160 --> 00:38:20,600 against ordinals. You have pools who are not 700 00:38:21,840 --> 00:38:23,600 mining ordinals or inscribing ordinals. 701 00:38:26,200 --> 00:38:31,280 But the inventivity that has brought to Bitcoin is really 702 00:38:31,280 --> 00:38:33,840 magical. It's it's a time of of you know 703 00:38:33,840 --> 00:38:37,200 when Internet started then all of a sudden you have things pop 704 00:38:37,400 --> 00:38:41,000 popping up everywhere new invention and we are in that in 705 00:38:41,000 --> 00:38:42,560 that period. So it's it's the best. 706 00:38:42,560 --> 00:38:46,160 It's not only our Dinos, you have a Federation of course 707 00:38:46,360 --> 00:38:51,120 Lightning Network type of multi stick signature and etcetera. 708 00:38:52,640 --> 00:38:55,880 DLCS are also very interesting and in development and it's only 709 00:38:55,880 --> 00:38:58,240 the beginning. So it's it's it's that's where 710 00:38:58,600 --> 00:39:01,080 it, it differs from everything that I've seen before. 711 00:39:01,680 --> 00:39:05,240 And what we are building today I think is going to be something 712 00:39:06,200 --> 00:39:10,200 huge in the coming 5-10 years and it's going to be behind us. 713 00:39:10,200 --> 00:39:12,680 We're going to see the fleet, the same fleet with we've seen 714 00:39:12,720 --> 00:39:17,720 with the Internet in 99 people stop complaining about the 715 00:39:17,720 --> 00:39:20,560 Internet at the end it became normal. 716 00:39:20,560 --> 00:39:22,240 We're going to have this flip at some time. 717 00:39:22,920 --> 00:39:26,640 We'll take more time in different kind of countries and 718 00:39:26,640 --> 00:39:30,200 different kind of legislation, but eventually it will really be 719 00:39:30,320 --> 00:39:34,120 mainstream and and everywhere. Absolutely 100%. 720 00:39:34,560 --> 00:39:36,800 Oh man, I I really, really enjoyed this. 721 00:39:37,160 --> 00:39:40,160 Nico, before we go though, I I'd just like to highlight, if you 722 00:39:40,160 --> 00:39:44,120 contrast the numbers, you know we saw Elizabeth Warren talking. 723 00:39:44,320 --> 00:39:47,880 We have Romain talking and and it just goes to show that like 724 00:39:47,880 --> 00:39:52,200 it, it's completely fabricated lies that we're hearing that you 725 00:39:52,200 --> 00:39:55,360 know we're we're all criminals. And I think you're Romaine, 726 00:39:55,360 --> 00:39:59,120 you're just a perfect example of being an entrepreneur and why we 727 00:39:59,120 --> 00:40:02,080 are all into Bitcoin and the improvements that it does give 728 00:40:02,080 --> 00:40:04,320 us. And and I think just like if you 729 00:40:04,320 --> 00:40:07,080 in your mind, you contrast the difference between her 730 00:40:07,080 --> 00:40:09,720 messaging. And our messaging, as I think 731 00:40:09,720 --> 00:40:12,440 it's very clear to anyone who's actually paying attention to the 732 00:40:12,440 --> 00:40:15,080 numbers that if they still have some critical thinking and logic 733 00:40:15,080 --> 00:40:17,960 left in their brains, they will understand that Bitcoin is 734 00:40:17,960 --> 00:40:20,480 really winning. 100 percent, 100%. 735 00:40:20,480 --> 00:40:22,160 Wow, I really, really enjoyed that segment. 736 00:40:22,520 --> 00:40:24,280 All right, everybody, let's get to the news. 737 00:40:24,280 --> 00:40:26,280 We have a lot to talk about. Let's check it out. 738 00:40:26,280 --> 00:40:30,560 The. Daily. 739 00:40:30,880 --> 00:40:34,040 News. I want to give a shout out to 740 00:40:34,040 --> 00:40:38,400 our sponsor, Foundation Devices. It's self custody done right. 741 00:40:38,400 --> 00:40:42,000 They built a premium grade hardware wallet called Passport 742 00:40:42,200 --> 00:40:45,040 right here in the US. It's fully open source and 743 00:40:45,040 --> 00:40:47,720 verifiable. It's the most intuitive Bitcoin 744 00:40:47,720 --> 00:40:51,600 wallet designed with the UX, reminiscent of a simple feature 745 00:40:51,600 --> 00:40:54,440 phone so you will know how to navigate it and use it the 746 00:40:54,440 --> 00:40:57,760 moment you pick it up. Get your Bitcoin off exchanges 747 00:40:57,760 --> 00:41:00,480 and into your into your own hands in just a few minutes. 748 00:41:00,480 --> 00:41:03,520 Experience the Peace of Mind that comes with taking ownership 749 00:41:03,560 --> 00:41:06,520 of your own keys. After a massive sell out during 750 00:41:06,520 --> 00:41:10,520 Bitcoin Miami 2023, the passport is back in stock at 751 00:41:10,520 --> 00:41:13,560 foundationdevices.com. Bitcoin only. 752 00:41:13,640 --> 00:41:16,200 Open source. Verifiable completely Air gap 753 00:41:16,240 --> 00:41:20,120 security model, gorgeous design, craft premium grade materials. 754 00:41:20,280 --> 00:41:22,480 If you're thinking about getting your Bitcoin off exchange 755 00:41:22,560 --> 00:41:24,400 changes, this is the one for you. 756 00:41:24,600 --> 00:41:27,800 Check out the passport link in the show notes below to learn 757 00:41:27,800 --> 00:41:30,280 more. All right everybody, I made it 758 00:41:30,280 --> 00:41:32,440 super easy for you guys. Remember, not your keys, not 759 00:41:32,440 --> 00:41:34,520 your Bitcoin. To take self custody of your 760 00:41:34,520 --> 00:41:37,080 Bitcoin, you can scan the QR code on your screen right now. 761 00:41:37,080 --> 00:41:39,600 Take you directly to the Foundation devices website where 762 00:41:39,600 --> 00:41:42,680 you can get yourself an open source hardware wallet. 763 00:41:42,680 --> 00:41:43,800 The passport. That's one. 764 00:41:43,920 --> 00:41:46,360 That's the one that we recommend at Simply Bitcoin. 765 00:41:46,360 --> 00:41:48,360 Not your keys, not your Bitcoin. Anyways. 766 00:41:48,360 --> 00:41:52,200 So let's talk about this and it is, I'll be honest with you 767 00:41:52,200 --> 00:41:54,600 guys, we usually don't talk about price on the show. 768 00:41:54,600 --> 00:41:56,360 We don't like to speculate and whatever. 769 00:41:56,360 --> 00:42:00,000 But The thing is when Adam back is saying 700K Bitcoin, when 770 00:42:00,000 --> 00:42:04,800 Bloomberg is saying 500 K Bitcoin, like, I mean, you're 771 00:42:05,040 --> 00:42:07,240 going to have to cover it. And then we're going to break 772 00:42:07,240 --> 00:42:10,480 down like we're actually going to, let's look at some data, 773 00:42:10,520 --> 00:42:14,280 like let's look at some facts because you can just throw out a 774 00:42:14,280 --> 00:42:16,440 number there and you can say this is the number, this is how 775 00:42:16,440 --> 00:42:18,520 it's going to happen. But let's kind of connect the 776 00:42:18,520 --> 00:42:20,760 dots because this is what we do here at simply Bitcoin. 777 00:42:21,160 --> 00:42:22,360 So this is the Bloomberg article. 778 00:42:22,360 --> 00:42:24,960 Bitcoin hype machine kicks into OverDrive. 779 00:42:24,960 --> 00:42:29,720 While cryptocurrency surges past 42,000, Bitcoin topping 42,000 780 00:42:29,720 --> 00:42:32,800 is just the start of a fresh crypto super cycle. 781 00:42:32,960 --> 00:42:36,080 Again, I love how the media still says crypto, but it's 782 00:42:36,120 --> 00:42:37,440 really big. They're talking about Bitcoin, 783 00:42:37,440 --> 00:42:38,840 but they somehow put crypto in there. 784 00:42:40,240 --> 00:42:43,000 Bitcoin super cycle that will push the world's biggest token 785 00:42:43,000 --> 00:42:47,400 above $500,000. And what I heard say is the new 786 00:42:47,400 --> 00:42:49,920 monetary order taking Wall Street by storm. 787 00:42:50,960 --> 00:42:53,800 Holy cow. Anyways goes on to say such is 788 00:42:53,800 --> 00:42:56,720 the is the palpable sense of euphoria within the digital 789 00:42:56,720 --> 00:42:59,280 assets community right now, where the largest token is 790 00:42:59,280 --> 00:43:02,920 coming off its third months of gains, adding another 11% so far 791 00:43:02,920 --> 00:43:05,840 in December to trade at its highest since the market began 792 00:43:05,840 --> 00:43:09,400 to implode in April 2022. All the excitement about about 793 00:43:09,400 --> 00:43:12,440 the surge is bringing out hype up predictions about further 794 00:43:12,440 --> 00:43:16,200 gains, most of them based on little else that intuition or 795 00:43:16,200 --> 00:43:19,360 obscure technical analysis. The cryptocurrency is in the 796 00:43:19,360 --> 00:43:22,760 midst of a revised arrival few saw coming this year. 797 00:43:22,960 --> 00:43:25,960 It's added more than 150% so far in 2023. 798 00:43:26,080 --> 00:43:28,800 As many market watchers anticipate, an exchange traded 799 00:43:28,800 --> 00:43:32,520 fund that directly holds a token could soon be approved to trade 800 00:43:32,520 --> 00:43:35,480 in the US. The jubilation prompted Coinbase 801 00:43:35,520 --> 00:43:38,640 CEO Brian Armstrong, for instance, to post a post that 802 00:43:38,640 --> 00:43:42,200 quote Bitcoin may be the key to extending Western civilization. 803 00:43:42,280 --> 00:43:46,800 Something to note he'd He is the CEO of one of the largest crypto 804 00:43:46,800 --> 00:43:49,040 casinos. But he didn't say crypto, he 805 00:43:49,040 --> 00:43:50,760 said Bitcoin. I just want to point that out. 806 00:43:51,080 --> 00:43:53,640 Anyways, it goes on to say Meanwhile, the prophecies for 807 00:43:53,640 --> 00:43:58,000 high how high the coin could go spanned anywhere from 50,000 in 808 00:43:58,000 --> 00:44:04,520 the media term to above 530,000. Quote It's getting crazy again, 809 00:44:04,520 --> 00:44:07,920 said Matt Mellie, the chief market strategist at Miller 810 00:44:07,920 --> 00:44:10,720 Tabik Co. Those kind of comments show just 811 00:44:10,720 --> 00:44:13,880 how quickly sentiment can change for this asset class. 812 00:44:14,600 --> 00:44:16,920 It goes on to say, quote. I would argue that one of the 813 00:44:16,920 --> 00:44:20,720 most important reasons Bitcoin rallied so strongly in 2020 and 814 00:44:20,720 --> 00:44:24,480 2021 was because of the massive influx of liquidity into the 815 00:44:24,480 --> 00:44:26,720 system due to the pandemic quote. 816 00:44:26,720 --> 00:44:29,720 Without another huge liquidity program, some of those 817 00:44:29,720 --> 00:44:32,880 predictions are a pipe dream. Anyways, moving on to Adam 818 00:44:32,880 --> 00:44:34,920 Back's prediction, says digital gold. 819 00:44:34,920 --> 00:44:37,880 Bitcoin will surely flip physical gold sooner or later 820 00:44:38,000 --> 00:44:40,800 and probably this having cycle. So within a year or two 821 00:44:40,960 --> 00:44:44,640 currently I would take 700K Bitcoin, but it may be partially 822 00:44:44,640 --> 00:44:47,000 a substitute. Some people start selling gold 823 00:44:47,000 --> 00:44:50,520 to Bitcoin to buy Bitcoin crossing the market cap below 824 00:44:50,520 --> 00:44:52,760 that, right. So it's very, very interesting 825 00:44:52,760 --> 00:44:55,760 and I know Romaine mentioned the the gold market cap earlier. 826 00:44:56,320 --> 00:45:01,360 Now let's kind of tone down the opium a little bit and let's 827 00:45:01,360 --> 00:45:04,280 talk about why, you know these things could happen. 828 00:45:04,280 --> 00:45:09,840 First, the Bitcoin supply the whole time high has been most of 829 00:45:09,840 --> 00:45:13,440 it has been inactive, 70% to be specific. 830 00:45:13,960 --> 00:45:16,360 This has never happened in Bitcoin's history, right. 831 00:45:16,760 --> 00:45:19,480 We have the having coming up. So this about half the cell 832 00:45:19,480 --> 00:45:23,160 pressure is going to be cut in half about in April of next 833 00:45:23,160 --> 00:45:25,160 year. So you have the having, you have 834 00:45:25,160 --> 00:45:27,880 the fact that there is not enough Bitcoin to go around. 835 00:45:28,120 --> 00:45:33,840 You have the fact that Naimbu Kelly's buying Bitcoin strategy 836 00:45:33,840 --> 00:45:37,640 has been vindicated. The moment Bitcoin passed 40K 837 00:45:37,640 --> 00:45:39,040 name Buchelli is now in the green. 838 00:45:39,320 --> 00:45:43,440 And Michael Saylor's strategy as holding Bitcoin as an 839 00:45:43,440 --> 00:45:46,800 alternative to holding Fiat in the company's balance sheet has 840 00:45:46,800 --> 00:45:49,360 also been vindicated. He's been in the green since. 841 00:45:49,360 --> 00:45:53,840 I think his average buy in price is about $30,292 per coin, 842 00:45:54,240 --> 00:45:57,120 right? And here is because we connect 843 00:45:57,120 --> 00:46:01,160 the dots for you guys. Here is a Twitter Spaces 844 00:46:01,160 --> 00:46:05,520 recording that Michael Saylor joined where he basically made 845 00:46:06,440 --> 00:46:09,880 he made the case, What are the three things that need to happen 846 00:46:09,880 --> 00:46:12,200 in order for? This is way too bullish. 847 00:46:12,200 --> 00:46:14,840 So I'm not going to read the number exactly, but if you guys 848 00:46:14,840 --> 00:46:16,760 are watching the video, which you totally should, you could, 849 00:46:16,800 --> 00:46:20,360 you guys could read that number. But he said these three things 850 00:46:20,360 --> 00:46:25,000 needed to happen in order for Bitcoin to 3X from here. 851 00:46:25,240 --> 00:46:28,000 So I'll play you guys the recording and then we'll talk 852 00:46:28,000 --> 00:46:30,320 about it. Think the catalyst that 10X, it 853 00:46:30,320 --> 00:46:33,720 really is the moment that JP Morgan Chase or other big money 854 00:46:33,720 --> 00:46:35,600 center banks can custody these for large corporates. 855 00:46:35,600 --> 00:46:36,720 That's it. That's the sea change because 856 00:46:36,720 --> 00:46:38,720 there's really no reason why they shouldn't be diversifying 857 00:46:38,720 --> 00:46:40,320 the assets on the balance sheet. Is that, is that your take? 858 00:46:40,320 --> 00:46:41,480 Because I know that. Like Tim Cook, I don't know 859 00:46:41,480 --> 00:46:42,720 where it came from. Earlier this week he said 860 00:46:42,720 --> 00:46:44,560 something like, I owns a Bitcoin, but we have no designs 861 00:46:44,560 --> 00:46:45,560 on anything. Or I don't know if he said 862 00:46:45,560 --> 00:46:47,160 Bitcoin or crypto in general. Is that the thing? 863 00:46:47,160 --> 00:46:50,040 And then? Look first of all it's going up 864 00:46:50,040 --> 00:46:51,960 by a factor of 10 whether they fix any of this stuff, right. 865 00:46:51,960 --> 00:46:54,160 It's going to go a lot. It's going to be a grind up by a 866 00:46:54,160 --> 00:46:57,240 factor of 10 just because gold is broken and the coins going to 867 00:46:57,240 --> 00:46:59,760 replace gold and now everybody in the universe knows they need 868 00:46:59,760 --> 00:47:01,800 a non sovereign store of value in the form of a bearer 869 00:47:01,800 --> 00:47:03,960 instrument. So now they're looking the 870 00:47:03,960 --> 00:47:06,520 amount of stories for last year people said inflation may be 871 00:47:06,520 --> 00:47:08,920 coming we're not sure. Now the mainstream narrative is 872 00:47:08,920 --> 00:47:10,680 flipped to inflation is here you need inflation hedge. 873 00:47:11,000 --> 00:47:12,560 So it's going to grind up to replace gold. 874 00:47:12,560 --> 00:47:15,200 It will go to $500,000 a coin regardless of why they fix these 875 00:47:15,200 --> 00:47:16,480 things. But there are three things that 876 00:47:16,480 --> 00:47:20,040 are massive catalyst that cause and acceleration and I don't 877 00:47:20,040 --> 00:47:22,480 think that those three things don't take us to 500,000, they 878 00:47:22,480 --> 00:47:24,040 take us to 5 million a coin, right. 879 00:47:24,120 --> 00:47:27,600 Those three things are a spot ETF where someone can go ahead 880 00:47:27,600 --> 00:47:29,920 and buy $100 million of Bitcoin via security. 881 00:47:29,920 --> 00:47:33,600 An ETF security I think that's 1/2 is your bank is going to 882 00:47:33,600 --> 00:47:35,080 custody it for you and lend against it. 883 00:47:35,880 --> 00:47:39,680 And three is I can mark it up, I'll mark it down on my balance 884 00:47:39,680 --> 00:47:42,400 sheet based on fair value pair of pursue, it'll be pair of 885 00:47:42,400 --> 00:47:45,800 pursue to the way I handle apple stock or at least that good if 886 00:47:45,960 --> 00:47:48,440 it's if you have property with fair value accounting by the way 887 00:47:49,080 --> 00:47:52,080 it becomes para pursue to the way you'd handle treasury bonds 888 00:47:52,200 --> 00:47:54,320 on a treasury balance sheet. Treasuries are better than 889 00:47:54,320 --> 00:47:56,760 stocks because treasury is property whereas a stock is a 890 00:47:56,760 --> 00:47:59,520 security and you're capped out at 40% of your balance sheet of 891 00:47:59,520 --> 00:48:00,040 security. So. 892 00:48:00,360 --> 00:48:04,160 So it would be a major, major breakthrough if you saw any of 893 00:48:04,160 --> 00:48:06,320 those three things. And I'll end with this one 894 00:48:06,320 --> 00:48:07,640 observation. I waited this last week, but I 895 00:48:07,640 --> 00:48:08,800 still I think it's very powerful. 896 00:48:09,040 --> 00:48:11,640 It's if the banks can hold this stuff on their balance sheet 897 00:48:11,920 --> 00:48:14,560 then a whole new class of investors are going to buy it. 898 00:48:14,560 --> 00:48:16,360 People are going to put in billion and multi billion dollar 899 00:48:16,360 --> 00:48:17,480 orders to buy it as a. Treasure. 900 00:48:17,480 --> 00:48:18,640 I'm going to stop it right there. 901 00:48:18,680 --> 00:48:25,680 So that recording was two years ago, and two out of those three 902 00:48:25,680 --> 00:48:29,480 things have happened. So first thing is the FASB votes 903 00:48:29,480 --> 00:48:32,320 in favor of Fair value accounting for Bitcoin. 904 00:48:32,600 --> 00:48:36,560 Those rules are set to go into effect as soon as 2025. 905 00:48:38,000 --> 00:48:41,040 So that was one of the one of the major catalysts that Sailor 906 00:48:41,040 --> 00:48:44,360 described needed to happen. The other one was major banks 907 00:48:45,440 --> 00:48:49,000 gearing or or preparing themselves for them to custody 908 00:48:49,200 --> 00:48:54,080 Bitcoin for their clients. Here's HSBC to launch storage 909 00:48:54,080 --> 00:48:57,720 services for Torken Eyes Token Eyes Securities as more big 910 00:48:57,720 --> 00:49:03,680 banks warm to blockchain. Soak effing crazy how they do 911 00:49:03,680 --> 00:49:06,560 that. And then Deutsche Bank or the to 912 00:49:06,560 --> 00:49:10,960 hold crypto for institutional clients also not to mention the 913 00:49:10,960 --> 00:49:16,000 fact that Swan announced institutional swan institutional 914 00:49:16,000 --> 00:49:18,520 as well. So yeah, this is all coming 915 00:49:18,520 --> 00:49:20,360 together. This is an article that dropped 916 00:49:20,360 --> 00:49:23,240 a couple days ago. US Bitcoin ETF issuers talks 917 00:49:23,240 --> 00:49:26,760 with SEC have advanced to key details. 918 00:49:26,760 --> 00:49:29,680 So it looks like it that's that's making progress as well. 919 00:49:29,880 --> 00:49:32,200 So those are the three things that Michael Sealer said needed 920 00:49:32,200 --> 00:49:34,280 to happen in order for Bitcoin to 10X from here. 921 00:49:35,240 --> 00:49:38,040 Mind you, two of those three things have happened and the ETF 922 00:49:38,040 --> 00:49:41,840 is on the verge of being approved, hopefully in January. 923 00:49:42,080 --> 00:49:46,400 So this is absolutely crazy. Now remain, please pull down the 924 00:49:46,400 --> 00:49:49,480 bullishness. Please bring us down from the 925 00:49:49,480 --> 00:49:51,560 moon. Or are you seeing what we're 926 00:49:51,560 --> 00:49:55,240 seeing? Well, I mean First off it's it's 927 00:49:55,280 --> 00:49:58,360 difficult to be better than Michael Seller. 928 00:49:58,480 --> 00:50:02,000 I really love him. He's he's always a spot on and 929 00:50:02,040 --> 00:50:05,120 he's he has a clear vision some risk he took some risk he's he's 930 00:50:05,120 --> 00:50:10,240 very amazing and he made a miners he was the instigator 931 00:50:10,240 --> 00:50:14,080 originally of the BMC, the Bitcoin mining council which is 932 00:50:14,080 --> 00:50:18,960 a gathering of many North American and now need a bit more 933 00:50:20,240 --> 00:50:22,520 international Bitcoin miners that are on ourselves. 934 00:50:22,520 --> 00:50:28,240 So it's great to hear him and and and and even if it's two 935 00:50:28,240 --> 00:50:33,040 years on I'm sure today we are getting there and then and the 936 00:50:33,040 --> 00:50:35,200 missing part ETFI think will happen. 937 00:50:35,200 --> 00:50:42,480 We can still be have a deception we never, we never I mean there 938 00:50:42,480 --> 00:50:44,360 is a possibility that something bad will happen. 939 00:50:44,360 --> 00:50:47,000 I don't believe it. I really believe that we are 940 00:50:47,000 --> 00:50:51,120 going to go into a beaconization of the world more and more it 941 00:50:51,120 --> 00:50:54,800 and and the beauty of the ETF if it happens and when it happens 942 00:50:54,800 --> 00:50:57,520 not only it will be bring cash to become but it will bring 943 00:50:57,520 --> 00:51:00,640 respectability. All of a sudden it will be OK 944 00:51:00,640 --> 00:51:05,000 for people to buy to access it whether the other banks or 945 00:51:05,520 --> 00:51:08,640 otherwise they will invest into into the the check. 946 00:51:08,640 --> 00:51:11,760 So I think it's it's more than just the value of it, but in 947 00:51:11,760 --> 00:51:15,480 terms of value we look at it and myself, I mean as a bitter 948 00:51:15,480 --> 00:51:16,640 miner, I don't look at the price. 949 00:51:17,400 --> 00:51:20,480 So I I'll look at the price but most of the time look at the 950 00:51:20,480 --> 00:51:24,440 cycles. I tried, I know, I tried to look 951 00:51:24,440 --> 00:51:27,600 at the cycles, you know and to see how can I deploy more mining 952 00:51:27,600 --> 00:51:30,960 power and competing power in the different kind of cycles. 953 00:51:30,960 --> 00:51:35,000 Because in the Bitcoin mining industry, the difficulty is to 954 00:51:35,000 --> 00:51:40,840 align time with I mean timing your energy, financing your 955 00:51:40,840 --> 00:51:46,040 miners and getting access to the data centres running. 956 00:51:46,400 --> 00:51:50,160 So every time aligning everything is always the most 957 00:51:50,160 --> 00:51:52,520 difficult, the most difficult things and being able to to 958 00:51:52,520 --> 00:51:56,680 navigate during a bull that we've seen before we started in 959 00:51:56,680 --> 00:52:00,640 27/20/17 and in the bear is also key. 960 00:52:00,640 --> 00:52:03,560 But obviously when the Bitcoin is doing nuts, the market is 961 00:52:03,560 --> 00:52:06,000 doing nuts. I believe that Bitcoin is going 962 00:52:06,000 --> 00:52:09,800 to grow up by, by effect, publicly determiners are going 963 00:52:09,800 --> 00:52:11,880 to also grow like crazy. Not only us. 964 00:52:12,920 --> 00:52:17,600 My theory, my guess is that it might of course have no magic 965 00:52:17,600 --> 00:52:21,760 ball, but it might be the the the first bigger brands, first 966 00:52:21,760 --> 00:52:24,480 the one and then we'll come to junior like us. 967 00:52:24,480 --> 00:52:26,840 We are junior. We are trying to, if I could 968 00:52:26,840 --> 00:52:28,480 become the senior of the next ball. 969 00:52:29,560 --> 00:52:33,560 It's a business that needs lots of CapEx to to deploy not only 970 00:52:33,560 --> 00:52:37,040 for buildings infrastructure but also for buying the the mining 971 00:52:37,040 --> 00:52:40,600 rigs and the computing power. But it's right there. 972 00:52:40,600 --> 00:52:44,400 This is the excitement, this is what is great to be in right now 973 00:52:44,400 --> 00:52:47,800 because we think we are the beginning of of of this cycle 974 00:52:48,320 --> 00:52:51,960 and it's a cycle where we can really go to a a huge level. 975 00:52:52,840 --> 00:52:56,600 Absolutely, 100%. I I I feel as bullish as you 976 00:52:56,600 --> 00:52:58,880 remain. I think that this next cycle is 977 00:52:58,880 --> 00:53:01,240 going to be absolutely crazy guys. 978 00:53:01,240 --> 00:53:05,320 We are going to have to wrap it up because the unconfiscatable 979 00:53:05,560 --> 00:53:09,120 stream is starting right now. So I do. 980 00:53:09,880 --> 00:53:12,680 So I do want to thank our guests. 981 00:53:12,680 --> 00:53:16,520 Romaine, thank you so much for joining us on the show today. 982 00:53:17,160 --> 00:53:19,920 Check out Sato. Like I said, it's like Romaine 983 00:53:19,920 --> 00:53:22,280 said, it's publicly listed in Canada and the US as well, 984 00:53:22,280 --> 00:53:23,800 correct? Correct. 985 00:53:25,280 --> 00:53:26,160 Awesome. Awesome. 986 00:53:26,160 --> 00:53:28,280 OK, we. Got to get Romaine back to talk 987 00:53:28,280 --> 00:53:31,480 like the implications of AI and Stratum V2 and building 988 00:53:31,480 --> 00:53:33,480 templates and and what that's going to be. 989 00:53:34,320 --> 00:53:36,840 OK. I would love to see and and and 990 00:53:36,840 --> 00:53:39,080 on this subject I would add one thing that we didn't mention 991 00:53:39,080 --> 00:53:40,800 today. It's really interesting fees, 992 00:53:41,640 --> 00:53:45,600 the increase of fees are reducing the impact of cash rate 993 00:53:45,600 --> 00:53:50,320 on our revenues and it's a great event today and I think it's a 994 00:53:50,320 --> 00:53:54,760 great event in the future for us because minors post adding, but 995 00:53:54,760 --> 00:53:56,920 anyway that's probably for another conversation. 996 00:53:58,320 --> 00:53:59,240 Yeah. Thank you so much. 997 00:53:59,240 --> 00:54:01,760 Remain really, really enjoyed you coming on the show. 998 00:54:01,760 --> 00:54:04,080 We really appreciate it. Thank you. 999 00:54:04,080 --> 00:54:06,160 Thank you so much. All right, everybody. 1000 00:54:06,160 --> 00:54:09,520 So the unconfiscatable live stream is up right now. 1001 00:54:09,520 --> 00:54:12,400 So you got all you guys got to do is you guys got to tune into 1002 00:54:12,600 --> 00:54:16,560 Tone Vase's YouTube channel and you'll be able to see it. 1003 00:54:16,560 --> 00:54:19,360 I I I was just looking at the stream a second ago and it seems 1004 00:54:19,360 --> 00:54:21,280 like Jack Mahler's is saying some words. 1005 00:54:21,680 --> 00:54:24,400 So we're going to wrap it up here, tune into the Tone Vase 1006 00:54:24,400 --> 00:54:27,600 channel for day two of Unconfiscatable. 1007 00:54:27,600 --> 00:54:31,160 We also have the Simply Bitcoin news desk during lunch, also on 1008 00:54:31,160 --> 00:54:34,800 the Tone Vase channel as well. So TuneIn there and guys, we'll 1009 00:54:34,800 --> 00:54:37,320 be back around 1:30 Pacific Time. 1010 00:54:37,320 --> 00:54:39,640 Peace out, everybody. In your panel later. 1011 00:54:40,400 --> 00:54:42,200 Yeah, yeah, yeah. I'm going to be on a mining 1012 00:54:42,200 --> 00:54:43,720 panel later. It's going to be interesting 1013 00:54:44,040 --> 00:54:45,840 debate. Public miners versus private 1014 00:54:45,840 --> 00:54:49,480 miners going to be interesting. Bob Burnett's going to be there. 1015 00:54:49,880 --> 00:54:52,840 We have Ben Gagnon from Bit Farm. 1016 00:54:52,840 --> 00:54:54,880 So it's going to be Huddle Tarantulas. 1017 00:54:54,880 --> 00:54:56,560 It's going to be a very, very exciting panel. 1018 00:54:56,560 --> 00:54:58,520 Anyways, we'll see you guys in a little bit. 1019 00:54:58,520 --> 00:55:01,520 Tune into Unconfiscatable Tone Bay's Channel, Peace Out, 1020 00:55:01,520 --> 00:55:12,000 everybody. Into For everyone in Twitter 1021 00:55:12,000 --> 00:55:15,760 Spaces, we are going to switch over to.