1 00:00:00,680 --> 00:00:04,760 Yo, did the world's largest country and BRICS nations just 2 00:00:04,760 --> 00:00:07,920 officially ditched the US dollar to adopt A new currency? 3 00:00:08,160 --> 00:00:11,680 Well, another bombshell against the dollar has been dropped at 4 00:00:11,680 --> 00:00:15,080 the BRICS summit yesterday, and rumors are circulating that 5 00:00:15,080 --> 00:00:19,200 maybe, just maybe, the BRICS are about to create a new currency. 6 00:00:19,200 --> 00:00:21,640 We've been hearing these rumors. We even got a visual of this, 7 00:00:21,640 --> 00:00:26,360 but dare we speculate and say that we might see the BRICS 8 00:00:26,360 --> 00:00:29,480 nations formally adopt Bitcoin? We don't know yet, but before. 9 00:00:29,480 --> 00:00:30,360 You call us. Crazy. 10 00:00:30,360 --> 00:00:32,759 You're calling me crazy. And before you, we play this 11 00:00:32,759 --> 00:00:36,360 video of Putin yesterday at the BRICS summits denouncing the 12 00:00:36,360 --> 00:00:38,040 dollar. Let's not forget the BRICS 13 00:00:38,040 --> 00:00:42,720 countries are all almost entirely interested in Bitcoin. 14 00:00:42,720 --> 00:00:45,400 We have old BRICS countries like China, of course, the Hong Kong 15 00:00:45,400 --> 00:00:48,240 ETS been approved. Hash powers coming back online 16 00:00:48,240 --> 00:00:50,560 in China. Russia's legalizing Bitcoin 17 00:00:50,560 --> 00:00:52,880 mining. India's pivoting on its Bitcoin 18 00:00:52,880 --> 00:00:55,920 stance. Brazil's new bank is the largest 19 00:00:55,920 --> 00:00:58,120 digital asset bank in the world right now. 20 00:00:58,120 --> 00:01:02,160 And Sailor met with a central bank coming out of Brazil in 21 00:01:02,160 --> 00:01:04,280 2023. And of course we have South 22 00:01:04,280 --> 00:01:08,800 Africa home to Bitcoin and Kazi. So there is a lot of interest in 23 00:01:08,800 --> 00:01:11,080 regards to Bitcoin in BRICS nations. 24 00:01:11,080 --> 00:01:13,240 But does that mean they're going to adopt Bitcoin yet? 25 00:01:13,520 --> 00:01:16,560 No, but we're going to break this down for you guys because 26 00:01:17,080 --> 00:01:19,400 they're talking about a new international payment system. 27 00:01:19,600 --> 00:01:22,680 Obviously there's been a lot of concerns about Russia and 28 00:01:22,680 --> 00:01:24,560 getting kicked off SWIFT and all that good stuff. 29 00:01:24,720 --> 00:01:26,400 And we have even more interesting stories, which I'll 30 00:01:26,400 --> 00:01:28,760 play for you from BRICS countries after this video. 31 00:01:28,920 --> 00:01:32,880 So let's play you this video that we got yesterday from the 32 00:01:32,880 --> 00:01:36,640 BRICS Summit about Putin talking about the US dollar, which is 33 00:01:36,640 --> 00:01:39,680 something we always talk about here, and the nefarious nature 34 00:01:39,680 --> 00:01:44,560 of the US dollar payment system. Very much. 35 00:01:44,800 --> 00:01:50,120 Madame Rousseff, you said that the dollar was used as a weapon. 36 00:01:50,280 --> 00:01:56,240 It is true and we see that. I think it is a great mistake by 37 00:01:56,240 --> 00:02:03,400 those who do it since the use of the dollar, which is still the 38 00:02:03,400 --> 00:02:08,039 most important tool in global finance and it's use as a 39 00:02:08,039 --> 00:02:13,880 political tool, undermines trust in this currency, thereby 40 00:02:13,880 --> 00:02:18,120 reducing its capabilities. We are not the ones who do that, 41 00:02:18,440 --> 00:02:21,480 it's others. We are not rejecting the dollar, 42 00:02:21,480 --> 00:02:24,640 fighting against it, but if they don't let us work with it, what 43 00:02:24,640 --> 00:02:26,920 else should we do? We should seek other 44 00:02:26,920 --> 00:02:29,720 alternatives and this is exactly what we do. 45 00:02:32,360 --> 00:02:36,280 We aspire to cooperation, but still we should understand that 46 00:02:36,280 --> 00:02:40,920 the longer we'll live and work under someone else's rules and 47 00:02:40,920 --> 00:02:45,800 on someone else's platforms, the longer the transition will take 48 00:02:46,160 --> 00:02:51,120 to build a new fair economic financial system and the more 49 00:02:51,120 --> 00:02:55,040 turbulence we will experience, including those that we now 50 00:02:55,040 --> 00:02:58,560 witness in the Middle East. We'll talk to our colleagues 51 00:02:58,560 --> 00:03:01,000 about this later. Thank you very much for your 52 00:03:01,000 --> 00:03:04,640 work. So anyone that hasn't been 53 00:03:04,640 --> 00:03:06,640 sleeping under a rock. Has. 54 00:03:06,640 --> 00:03:08,800 Probably gotten to the point that we talked about here 55 00:03:08,800 --> 00:03:12,360 constantly about what has happened with the US dollar and 56 00:03:12,360 --> 00:03:14,040 it being weaponized against our enemies. 57 00:03:14,240 --> 00:03:17,360 You can argue that's good or bad, it's just that's the facts 58 00:03:17,360 --> 00:03:19,840 of the matter. And This is why as a Bitcoin 59 00:03:19,840 --> 00:03:21,160 channel. We are always. 60 00:03:21,160 --> 00:03:24,760 Talking about the importance of having a non sovereign money, 61 00:03:24,760 --> 00:03:26,280 something that no one can control. 62 00:03:26,280 --> 00:03:28,440 It's a equal playing field for everyone. 63 00:03:28,600 --> 00:03:31,200 And again, like I was saying, you know, the new BRICS members 64 00:03:31,520 --> 00:03:34,360 are taking some pretty good Bitcoin stances as well. 65 00:03:34,360 --> 00:03:36,680 Ethiopia, their government's been mining Bitcoin. 66 00:03:36,800 --> 00:03:38,680 Iran's been mining Bitcoin for years. 67 00:03:38,680 --> 00:03:42,520 Turkey, Ergodon, forgive me, has been meeting with Buchelli in 68 00:03:42,520 --> 00:03:44,800 2023. And of course, they have rampant 69 00:03:44,800 --> 00:03:47,200 inflation. So as Russia has been slowly 70 00:03:47,200 --> 00:03:50,440 kicked off, the dollar kicked off, Swiss assets have been 71 00:03:50,440 --> 00:03:52,560 frozen. It looks like they don't care 72 00:03:52,560 --> 00:03:56,320 anymore and are making calls for a new international payment 73 00:03:56,320 --> 00:03:58,240 system. Again, I do have some pictures 74 00:03:58,240 --> 00:04:02,480 here and I'm not alone. I got my boy Dante Cook, AKA the 75 00:04:02,480 --> 00:04:05,920 host of Bitcoin simply one of our new content creators. 76 00:04:05,920 --> 00:04:09,280 So Dante, good to have you here. Let me just break down a couple 77 00:04:09,280 --> 00:04:13,280 more of these headlines and then we will get into this and you 78 00:04:13,280 --> 00:04:16,200 and I'll go back and forth. So this article came out from 79 00:04:16,200 --> 00:04:19,440 the Guardian obviously kind of painting this as a bad thing 80 00:04:19,440 --> 00:04:22,200 Again, they they are an American media publication. 81 00:04:22,200 --> 00:04:25,080 So there is some concerns here and even some concerns coming 82 00:04:25,080 --> 00:04:26,360 from the BRICS nations themselves. 83 00:04:26,360 --> 00:04:28,960 But the headline here Putin calls for an alternative 84 00:04:28,960 --> 00:04:32,160 international payment system at BRICS summit, Russian presidents 85 00:04:32,160 --> 00:04:35,640 go to dollarized world economy alarms member that do not want 86 00:04:35,640 --> 00:04:38,720 bloc to turn against West and moving down a little bit. 87 00:04:39,360 --> 00:04:42,120 Russia is working on creating a settlement and payment 88 00:04:42,120 --> 00:04:45,240 infrastructure that would bypass the SWIFT payment system based 89 00:04:45,240 --> 00:04:47,800 in Belgium. The De Dollarization initiative 90 00:04:47,800 --> 00:04:50,880 is probably the most concrete proposal likely to emerge from 91 00:04:50,880 --> 00:04:53,000 the summit. That has been a remarkable 92 00:04:53,000 --> 00:04:55,800 forgiving Putin his biggest international platform since, of 93 00:04:55,800 --> 00:05:00,200 course, February 2022. You guys know why and this last, 94 00:05:00,200 --> 00:05:03,360 this last quote here before I show you this picture of, you 95 00:05:03,360 --> 00:05:07,160 know, potential, you know, symbolic gesture of announcing a 96 00:05:07,240 --> 00:05:10,080 new currency coming out from the BRICS nation we have. 97 00:05:10,240 --> 00:05:14,000 Agatha Demarius, a sanctions specialist at the European 98 00:05:14,000 --> 00:05:17,000 Council of Foreign Relations, said at this stage it is hard to 99 00:05:17,000 --> 00:05:20,320 imagine a widespread development and adoption of BRICS financial 100 00:05:20,320 --> 00:05:23,440 tools globally. the US dollar's domination of the global 101 00:05:23,440 --> 00:05:26,920 currency landscape is entrenched both for trade transactions and 102 00:05:26,920 --> 00:05:29,920 foreign exchange reserves. More than 80% of global trade 103 00:05:29,920 --> 00:05:32,880 transactions are invoiced in U.S. dollars, which also 104 00:05:32,880 --> 00:05:35,760 accounts for nearly 60% of central bank's reserve. 105 00:05:36,080 --> 00:05:40,000 And so again, look, we, we got this picture here coming out and 106 00:05:40,000 --> 00:05:41,440 there's some pictures of their currency. 107 00:05:41,440 --> 00:05:43,440 It looks kind of like they're making a new euro. 108 00:05:43,640 --> 00:05:46,160 But of course, this would be the BRICS dollar or whatever they're 109 00:05:46,160 --> 00:05:48,160 going to name it. It's not official yet. 110 00:05:48,160 --> 00:05:51,400 They haven't officially announced a new currency, but 111 00:05:51,400 --> 00:05:54,760 they are talking about it. And there is a symbolic gesture 112 00:05:54,760 --> 00:05:59,120 of holding a, a new BRICS currency, a new BRICS dollar 113 00:05:59,120 --> 00:06:01,840 now, which is very interesting to see. 114 00:06:02,040 --> 00:06:05,280 And so of course, as a Bitcoin channel, we know all the 115 00:06:05,280 --> 00:06:09,400 problems that go along with the SWIFT system, with that go along 116 00:06:09,400 --> 00:06:12,600 with the US dollar. We have been weaponizing the 117 00:06:12,600 --> 00:06:14,120 dollar. But I think the biggest point 118 00:06:14,120 --> 00:06:17,480 there is to further spread that the US is shooting themselves in 119 00:06:17,480 --> 00:06:19,240 the foot. Look, I'm an American, I 120 00:06:19,240 --> 00:06:22,240 obviously want to see America continue to prosper. 121 00:06:22,520 --> 00:06:25,360 But we're seeing that the politicians in Washington have 122 00:06:25,360 --> 00:06:28,480 used the US dollar and weaponized it against our 123 00:06:28,480 --> 00:06:30,920 enemies. Because if you really break down 124 00:06:30,920 --> 00:06:34,080 the economics of this, the dollar is our biggest export in 125 00:06:34,080 --> 00:06:36,520 the US. And now countries are looking 126 00:06:36,520 --> 00:06:38,920 for alternatives. You know, we're seeing bonds 127 00:06:38,920 --> 00:06:40,880 being dropped. No one wants U.S. government 128 00:06:40,880 --> 00:06:42,840 debt. And this is kind of one of those 129 00:06:42,840 --> 00:06:45,720 tit for tat things that we've pushed the world to such an 130 00:06:45,720 --> 00:06:49,320 extent that now everyone doesn't want to use our dollar. 131 00:06:49,320 --> 00:06:51,560 They're at least questioning the use of the dollar. 132 00:06:51,880 --> 00:06:54,960 And of course I would argue, and I think Dante would argue as 133 00:06:54,960 --> 00:06:56,960 well, and everyone here at Simply Bitcoin would argue. 134 00:06:57,160 --> 00:06:58,800 That. I fundamentally think it would 135 00:06:58,800 --> 00:07:02,160 be a mistake for Russia to create its own currency. 136 00:07:02,160 --> 00:07:04,680 You saw that last quote there that most countries aren't 137 00:07:04,680 --> 00:07:08,600 really going to want to join the Bricks payment system. 138 00:07:08,840 --> 00:07:14,400 But there is roughly about 50 or no, what's it 41 nations that 139 00:07:14,400 --> 00:07:18,600 are looking to join the bricks, you know, coalition. 140 00:07:18,920 --> 00:07:22,600 And that is a growing trend that we're seeing. 141 00:07:22,600 --> 00:07:25,680 People don't want U.S. debt. People are looking at the 142 00:07:25,680 --> 00:07:28,080 weaponization of the dollar and they're looking for 143 00:07:28,080 --> 00:07:30,520 alternatives. And obviously here at Bitcoin, 144 00:07:30,520 --> 00:07:32,880 we would argue that the best alternative, the best 145 00:07:32,880 --> 00:07:36,280 international payment system, or rather the best international 146 00:07:36,280 --> 00:07:39,680 money period is Bitcoin. So it's going to be interesting 147 00:07:39,680 --> 00:07:41,680 to see these conversations evolve. 148 00:07:42,000 --> 00:07:44,680 Of course, you know, you can say that oh, we're being like 149 00:07:44,680 --> 00:07:47,000 Russian Shields here because we're just covering the news 150 00:07:47,080 --> 00:07:50,440 news and showing that hey, Russia wants to drop the dollar. 151 00:07:50,440 --> 00:07:52,840 BRICS nations want to drop the dollar because it's been 152 00:07:52,840 --> 00:07:56,120 weaponized against them and Bitcoin is that neutral money 153 00:07:56,120 --> 00:07:58,480 and so once. All those countries get into 154 00:07:58,480 --> 00:08:02,200 Bitcoin, they realize that Bitcoin is the true neutral 155 00:08:02,240 --> 00:08:05,440 international money. I think the game is really going 156 00:08:05,440 --> 00:08:08,360 to change and that's when adoption, I mean, we might even 157 00:08:08,360 --> 00:08:10,360 hit hyper bitcoinization at that point. 158 00:08:10,360 --> 00:08:13,640 It's when one of these big nations fully embrace Bitcoin, 159 00:08:13,640 --> 00:08:16,760 fully adopt Bitcoin, and if we get all the countries that are 160 00:08:16,760 --> 00:08:18,920 in. Bricks interested in joining 161 00:08:18,920 --> 00:08:21,200 BRICS. That's a total of 50 countries 162 00:08:21,200 --> 00:08:24,440 dropping the dollar going into the Bitcoin system. 163 00:08:24,760 --> 00:08:28,920 And that is really when the game theory gets super crazy. 164 00:08:28,920 --> 00:08:31,760 Anyways, Dante, I know you've been covering this lately. 165 00:08:31,760 --> 00:08:33,760 I know you got your eye on the ball right here. 166 00:08:33,760 --> 00:08:36,400 So what's your thoughts on this clip coming out from Putin? 167 00:08:36,559 --> 00:08:39,080 What's your thoughts about BRICS nations dropping the dollar? 168 00:08:39,600 --> 00:08:42,320 Man, couple thoughts. Before we get into any of the 169 00:08:42,320 --> 00:08:45,920 logistics of the macro backdrop, I want to get into some cultural 170 00:08:45,920 --> 00:08:49,680 commentary because even the translators that are translating 171 00:08:49,680 --> 00:08:50,960 for Putin don't know how to have fun. 172 00:08:51,160 --> 00:08:54,680 Like it's crazy. Like, you know, at least our 173 00:08:54,680 --> 00:08:57,480 dictators or our evil people like a Bill Clinton or, you 174 00:08:57,480 --> 00:08:59,880 know, even like you can take Kamala for example, like she has 175 00:08:59,880 --> 00:09:02,680 a little cackling laugh that'll make you like kind of question 176 00:09:02,680 --> 00:09:04,000 whether she's a good person or not. 177 00:09:04,000 --> 00:09:06,240 But Putin just faces just like stone faced. 178 00:09:06,680 --> 00:09:08,480 The translator behind him stone faced. 179 00:09:08,720 --> 00:09:10,680 You know why I really think they're serious about the bricks 180 00:09:10,680 --> 00:09:13,560 this time? Because I have 4 kids and taking 181 00:09:13,560 --> 00:09:16,600 family pictures with. Six of us as hard as hell. 182 00:09:16,880 --> 00:09:20,960 So when they try to get 35 of them in one picture, like you 183 00:09:20,960 --> 00:09:23,320 had to know the camera person was pissed off. 184 00:09:23,680 --> 00:09:27,200 Like they got 13 different translators Speaking of 35 185 00:09:27,200 --> 00:09:29,760 different people and the picture look crazy. 186 00:09:29,760 --> 00:09:31,880 I know that that was hard trying to get short people in the 187 00:09:31,880 --> 00:09:34,320 front. Putin's like 55, you know, 188 00:09:34,320 --> 00:09:36,960 trying to get Chi in there. You know, it's just a whole mix 189 00:09:36,960 --> 00:09:39,960 of stuff going on in there. That's the cultural commentary. 190 00:09:40,600 --> 00:09:42,480 So I know that they're really going to try to make it work 191 00:09:42,480 --> 00:09:45,760 because doing a picture with 35 people and trying to get a good 192 00:09:45,760 --> 00:09:49,600 shot, we got to maximize. All right, The most important 193 00:09:49,600 --> 00:09:52,520 thing about bricks, like we in the United States, we have this 194 00:09:52,520 --> 00:09:55,280 slanted view that we are the most important people in the 195 00:09:55,280 --> 00:09:57,160 world. Top ten bricks countries 196 00:09:57,160 --> 00:10:01,120 represent 45% of the world's population, 36% of the world's 197 00:10:01,120 --> 00:10:08,160 GDP, $29 trillion and 4429% of the world's earth surface and 198 00:10:08,160 --> 00:10:10,120 44% of total. GDP. 199 00:10:10,480 --> 00:10:14,200 So look these people. Are are actually the the larger 200 00:10:14,200 --> 00:10:16,640 in terms of population and even growth. 201 00:10:16,880 --> 00:10:19,360 There's this great image that's coming out of the top G7 202 00:10:19,360 --> 00:10:21,160 nations. None of the G7 nations are 203 00:10:21,160 --> 00:10:25,120 growing above 3% in GDP. In the BRICS countries that are 204 00:10:25,120 --> 00:10:27,600 represented there are growing above 3% in. 205 00:10:27,600 --> 00:10:31,440 GDP, so some of these countries have favorable backdrops. 206 00:10:31,720 --> 00:10:34,400 And one of the things that made the dollar is the dollar. 207 00:10:34,400 --> 00:10:37,000 You go back to Bretton Woods, you go back to our pact with 208 00:10:37,000 --> 00:10:39,080 Saudi Arabia. Once they found these new 209 00:10:39,080 --> 00:10:41,760 reserves of oil, we said, hey, we will protect you. 210 00:10:41,760 --> 00:10:44,080 We'll protect your waterways. We'll protect your you 211 00:10:44,080 --> 00:10:48,200 militarily with our Navy. We just ensure that all of the 212 00:10:48,200 --> 00:10:51,560 dollar or all of the oil that is paid for is paid for in dollars. 213 00:10:51,560 --> 00:10:53,600 That's how the dollar. Became the global reserve 214 00:10:53,880 --> 00:10:56,040 currency of the world, even beyond gold. 215 00:10:56,240 --> 00:11:00,480 So you have to remember the dollar is really backed by the 216 00:11:00,480 --> 00:11:03,360 currency of the world, which Natty Brunel said two days ago 217 00:11:03,360 --> 00:11:06,480 on Charles Payne show energy. And these shows in these 218 00:11:06,480 --> 00:11:09,280 countries have energy in abundance, right? 219 00:11:09,280 --> 00:11:13,120 They are some of the leading exporters in terms of oil, in 220 00:11:13,120 --> 00:11:16,880 terms of vegetables, in terms of some of the raw materials and 221 00:11:16,880 --> 00:11:19,560 goods, lithium, Palladium. You saw the United States 222 00:11:19,560 --> 00:11:22,320 government talking about putting a tariff on the Palladium 223 00:11:22,600 --> 00:11:25,080 because Palladium is going to be really important for this AI 224 00:11:25,080 --> 00:11:27,720 future and boom and Russia actually sits on top of all of 225 00:11:27,720 --> 00:11:29,400 it. So it's going to be very 226 00:11:29,400 --> 00:11:31,560 interesting. One of the things that I think 227 00:11:31,560 --> 00:11:35,200 people have to realize is that the dollar is not going to be 228 00:11:35,200 --> 00:11:37,680 worthless, that Putin said that himself. 229 00:11:37,960 --> 00:11:39,320 We can't go away from the dollar. 230 00:11:39,320 --> 00:11:44,400 It is the most important asset in global monetary trade. 87% of 231 00:11:44,400 --> 00:11:47,560 transactions that happen globally are interchange or 232 00:11:47,560 --> 00:11:50,680 denominated in dollars through interchange banks, through banks 233 00:11:50,680 --> 00:11:53,640 themselves or through back office settlements that they do 234 00:11:53,880 --> 00:11:57,240 after the fact. But the most important thing to 235 00:11:57,240 --> 00:11:59,880 know is that the dollar will be worth less. 236 00:12:00,040 --> 00:12:03,120 So the dollar will not go to zero in nominal terms. 237 00:12:03,280 --> 00:12:06,560 The dollar will go to zero against everything that it's 238 00:12:06,560 --> 00:12:09,000 measured against. When people say the dollar is 239 00:12:09,000 --> 00:12:11,240 going to zero, I think everybody takes that the wrong way. 240 00:12:11,400 --> 00:12:13,040 We're not going to get a doughnut in the dollar. 241 00:12:13,040 --> 00:12:16,720 It's not a crypto asset in terms of it won't be worth anything 242 00:12:16,720 --> 00:12:19,520 like 99% of those things. And shout out to ETH because I 243 00:12:19,520 --> 00:12:21,920 get a an opportunity to bash them whenever I can. 244 00:12:22,280 --> 00:12:25,360 You're down a trillion, like ETH is worth a trillion less than 245 00:12:25,360 --> 00:12:27,400 Bitcoin right now for anybody who wants to make a stupid 246 00:12:27,400 --> 00:12:29,040 decision and go on and on earth right now. 247 00:12:29,600 --> 00:12:33,960 But the most important thing is that everything denominated in 248 00:12:33,960 --> 00:12:37,080 the dollar will be worth less over time. the United States is 249 00:12:37,080 --> 00:12:40,360 backed into a corner. They lost all trust from other 250 00:12:40,360 --> 00:12:44,920 global reserve currencies and treasury buyers when they seized 251 00:12:44,920 --> 00:12:48,600 $300 billion of Russia's assets going back two years and then 252 00:12:48,600 --> 00:12:51,600 even threatened to fund the Ukrainian war, which is just a 253 00:12:51,600 --> 00:12:55,720 shadow proxy war for the United States to fight against Russia 254 00:12:56,000 --> 00:12:59,240 via another country in Ukraine. That's neither here nor there. 255 00:12:59,400 --> 00:13:01,920 They broke the trust in the United States treasury system, 256 00:13:01,920 --> 00:13:06,240 which was the world's free market return, safest safe haven 257 00:13:06,240 --> 00:13:07,880 asset that you can put your money into. 258 00:13:07,880 --> 00:13:10,320 And now they have nowhere else to go. 259 00:13:10,600 --> 00:13:12,560 That's why BRICS is being created. 260 00:13:12,760 --> 00:13:15,280 That's why they're doing what they're doing, not because we're 261 00:13:15,280 --> 00:13:17,640 here to prop up these people or say that they're great people 262 00:13:17,640 --> 00:13:20,160 and they're doing great things. It's because we've done this to 263 00:13:20,160 --> 00:13:23,680 ourselves. And largely I believe that these 264 00:13:23,680 --> 00:13:26,800 countries, because they are abundant in the world's 265 00:13:27,360 --> 00:13:29,440 universal currency, which is energy. 266 00:13:29,720 --> 00:13:32,160 I do believe that they are great proponents for Bitcoin as well. 267 00:13:33,360 --> 00:13:35,360 Hold up, hold up. Dante coming in. 268 00:13:38,040 --> 00:13:40,560 Absolutely killing and there's a few things that I want to touch 269 00:13:40,560 --> 00:13:42,920 on before we go on. There was a great comment in 270 00:13:42,920 --> 00:13:46,760 here and I've noticed this happening in a lot of different 271 00:13:46,760 --> 00:13:48,560 scenarios as well. Hold on, I'm trying to find this 272 00:13:48,560 --> 00:13:52,360 comment. It was by Skip on down the road 273 00:13:52,360 --> 00:13:55,600 and he goes bricks members seem a lot like gold bugs that they 274 00:13:55,600 --> 00:13:58,680 recognize the problem but not the solution, AKA Bitcoin. 275 00:13:58,960 --> 00:14:01,080 And this is what we're seeing happening all the time. 276 00:14:01,080 --> 00:14:05,360 Like, you know, a lot of the people in the world right now, 277 00:14:05,360 --> 00:14:08,200 they, you can kind of liken them to like dinosaurs. 278 00:14:08,200 --> 00:14:10,400 They, they see there's a problem, but they're just 279 00:14:10,400 --> 00:14:13,960 redoing the same, the same steps that they've done before instead 280 00:14:13,960 --> 00:14:15,560 of trying to branch out to something new. 281 00:14:15,560 --> 00:14:18,080 And obviously we would argue that that new technology is 282 00:14:18,080 --> 00:14:20,520 Bitcoin. And this is where we are right 283 00:14:20,520 --> 00:14:22,600 now. The, the asymmetry of 284 00:14:22,600 --> 00:14:25,520 understanding Bitcoin hasn't fully distributed around the 285 00:14:25,520 --> 00:14:27,840 world. Yes, you guys are early here. 286 00:14:27,840 --> 00:14:30,480 We've understood Bitcoin, we understand the impact of what 287 00:14:30,480 --> 00:14:31,960 Bitcoin is. And there's still an uphill 288 00:14:31,960 --> 00:14:34,520 battle here because there's still a lot of education that 289 00:14:34,520 --> 00:14:37,880 has to be done to kind of get more people to adopt Bitcoin 290 00:14:37,880 --> 00:14:40,640 because that's the most important thing here period, is 291 00:14:40,640 --> 00:14:43,200 getting more people to hold Bitcoin, to get more people to 292 00:14:43,200 --> 00:14:46,280 see the light, get more people understanding what is actually 293 00:14:46,280 --> 00:14:50,880 at stake and how you know how, how we're cheatering, on the 294 00:14:50,880 --> 00:14:54,800 verge of maybe a total global Fiat collapse. 295 00:14:54,800 --> 00:14:58,520 The Fiat apocalypse might be upon us, but you're seeing that 296 00:14:58,600 --> 00:15:02,640 the problems are being talked about, but not enough talk has 297 00:15:02,640 --> 00:15:04,600 been happening in regards regards to the solution. 298 00:15:04,600 --> 00:15:06,640 And that's why we're here. And This is why all you 299 00:15:06,640 --> 00:15:09,320 Bitcoiners out there are actually doing the work of 300 00:15:09,320 --> 00:15:11,840 trying to spread people or spread the adoption of Bitcoin 301 00:15:11,840 --> 00:15:15,280 and get people on to the Bitcoin standard, or rather the personal 302 00:15:15,280 --> 00:15:17,880 Bitcoin standard. But it is absolutely amazing 303 00:15:17,880 --> 00:15:21,160 what you said, Dante, about like the trust has been eroded. 304 00:15:21,520 --> 00:15:25,280 I think trust and institutions are, I don't know, I don't have 305 00:15:25,280 --> 00:15:27,920 the data here, so I'm spitballing, but it seems at 306 00:15:27,920 --> 00:15:31,720 least just that the trust and institutions are at the lowest 307 00:15:31,720 --> 00:15:33,720 they've probably ever been. I don't know if much 308 00:15:33,720 --> 00:15:37,600 historically accurate, but it does feel like that minimizing 309 00:15:37,600 --> 00:15:40,240 trust in these institutions is crumbling. 310 00:15:40,280 --> 00:15:43,600 And that's, I think part of what we've been talking about. 311 00:15:43,600 --> 00:15:46,400 Just they've weaponized the dollar and people are looking 312 00:15:46,400 --> 00:15:48,880 for alternatives and more people are going to wake up to the 313 00:15:48,880 --> 00:15:51,600 Bitcoin standard anyways. Let's get into. 314 00:15:51,600 --> 00:15:54,000 The show because we do have a lot for you guys, but before. 315 00:15:54,000 --> 00:15:57,840 We move on guys like share, subscribe there's over 1000 of 316 00:15:57,840 --> 00:16:01,320 you guys watching on YouTube and Twitter right now make sure you 317 00:16:01,320 --> 00:16:04,080 smash the like comment the like button and comment on the on the 318 00:16:04,080 --> 00:16:05,760 show. Let's see what you guys think 319 00:16:05,760 --> 00:16:08,840 about this but of course we do got to pay the bills here at 320 00:16:08,840 --> 00:16:13,320 simply Bitcoin go to bitcoinwell.com, the best place 321 00:16:13,320 --> 00:16:16,800 to buy your Bitcoin. It has automatic self custody by 322 00:16:16,800 --> 00:16:19,880 default, which means you literally need to have a Bitcoin 323 00:16:19,880 --> 00:16:23,880 wallet to get your Bitcoin. Yes, it's not as convenient for 324 00:16:23,880 --> 00:16:26,560 some of you guys that are aren't, you know, fully Bitcoin 325 00:16:26,560 --> 00:16:29,760 Maxis, but this means they can never Rudd pull you on your 326 00:16:29,760 --> 00:16:33,320 Bitcoin, and that is a plus They're enabling independence. 327 00:16:33,480 --> 00:16:37,040 Make sure you use the promo code simply BTC and you can get three 328 00:16:37,040 --> 00:16:38,960 tosses into. The. 329 00:16:38,960 --> 00:16:41,960 Bitcoin wishing well, of course, What is the Bitcoin wishing 330 00:16:41,960 --> 00:16:43,520 well? You get some tosses, you throw a 331 00:16:43,520 --> 00:16:48,080 coin in and you are able to win up to 1,000,000 SAT. 332 00:16:48,080 --> 00:16:50,960 So get your Lightning wallets out and we're going to do 1 333 00:16:51,120 --> 00:16:54,640 right now for you guys. Of course, scan the QR code. 334 00:16:54,840 --> 00:16:56,360 This will be generational wealth. 335 00:16:56,880 --> 00:16:59,280 Let's go. Okay, 2100 sets. 336 00:16:59,320 --> 00:17:02,520 All right, so whoever gets that first get 2100 sets. 337 00:17:02,520 --> 00:17:04,440 What's that like? I don't even know. 338 00:17:04,440 --> 00:17:06,240 I can't do the conversions right now. 339 00:17:06,480 --> 00:17:10,640 But anyways, make sure you go sign up to bitcoinwell.com and I 340 00:17:10,839 --> 00:17:13,040 was talking with Adam yesterday. I might, I might, I might have 341 00:17:13,040 --> 00:17:16,440 some, some trickery up my sleeve to report on later in regards to 342 00:17:16,440 --> 00:17:17,119 Bitcoin. Wow. 343 00:17:17,359 --> 00:17:21,599 But on that note, guys, let's get in to the numbers. 344 00:17:30,480 --> 00:17:33,320 Of course, of course, of course. Also, once you get a Bitcoin 345 00:17:33,320 --> 00:17:36,000 wallet, you need to back up that seed phrase. 346 00:17:36,000 --> 00:17:38,440 Make sure you are securing your generational wealth. 347 00:17:38,440 --> 00:17:41,440 Do not leave it on a piece of paper because it might get 348 00:17:41,440 --> 00:17:43,400 destroyed. If you were in Florida, maybe 349 00:17:43,400 --> 00:17:45,480 the hurricane came and got your seed phrase wet. 350 00:17:45,480 --> 00:17:48,280 Now you're wrecked and your great, great grandchildren are 351 00:17:48,280 --> 00:17:51,320 going to ask, hey grandpapa, why are we broke? 352 00:17:51,320 --> 00:17:53,800 Even though you are a Bitcoiner and you don't want to tell them 353 00:17:54,000 --> 00:17:57,320 that you didn't secure your generational wealth, make sure 354 00:17:57,320 --> 00:18:00,600 you stamp it into titanium. They've been trialled, been 355 00:18:00,600 --> 00:18:04,320 tested, they've been through the ringer, it's been thrown in the 356 00:18:04,320 --> 00:18:07,400 water, it's been run over by bulldozers, it's been burnt by 357 00:18:07,400 --> 00:18:10,560 torches, and it still withstands and holds your seed phrase. 358 00:18:10,800 --> 00:18:14,440 You want to make sure that you are backing up your seed phrase 359 00:18:14,440 --> 00:18:17,440 in titanium. Stamp your seed in titanium and 360 00:18:17,440 --> 00:18:20,720 use the promo code for 15% off of simply. 361 00:18:20,960 --> 00:18:22,840 OK guys, let's get into the numbers. 362 00:18:22,920 --> 00:18:25,240 We'll go over the numbers real quick before we cover some more 363 00:18:25,240 --> 00:18:27,160 news. Of course, I'm over here on 364 00:18:27,160 --> 00:18:30,320 Clark Moody's Bitcoin dashboard and the current price is 60. 365 00:18:30,480 --> 00:18:36,400 7500 and. 60 so it looks like climbing back up we're we're 366 00:18:36,400 --> 00:18:39,880 we're consolidating a little bit hopefully soon we'll break up 367 00:18:40,080 --> 00:18:43,280 past the 70K mark. I think yesterday we said 77 was 368 00:18:43,720 --> 00:18:46,120 the new all time high adjusted via inflation. 369 00:18:46,120 --> 00:18:48,800 So we're almost there. Anyways, the stats per dollar, 370 00:18:48,800 --> 00:18:52,080 AKA how much the dollar is worth in Bitcoin, AKA how much Bitcoin 371 00:18:52,080 --> 00:18:56,040 you can buy for a single dollar is currently at 1480 stats per 372 00:18:56,040 --> 00:18:59,320 dollar or 148 bits for the bits maxi in the batch. 373 00:18:59,320 --> 00:19:01,160 I think that conversation is going to come back soon. 374 00:19:01,480 --> 00:19:03,720 And the current block height, which might be the most 375 00:19:03,720 --> 00:19:06,600 important number in Bitcoin. Yes, we all love the price, but 376 00:19:06,600 --> 00:19:09,840 TikTok next block, this number shows that Bitcoin is working 377 00:19:09,840 --> 00:19:14,720 exactly as designed we're at block height of 867,167. 378 00:19:14,960 --> 00:19:18,880 The current market cap and Fiat terms is $1.34 trillion. 379 00:19:19,080 --> 00:19:21,640 And the Bitcoin versus gold market cap, so much room to run 380 00:19:21,640 --> 00:19:25,880 in the hard money game. We are only at 6.96% of gold's 381 00:19:25,880 --> 00:19:28,120 market cap. Soon we will get to 100. 382 00:19:28,120 --> 00:19:31,160 Soon enough we'll get there. And the total money supply, the 383 00:19:31,160 --> 00:19:34,040 total issuance of all Bitcoin that will ever be created is 384 00:19:34,040 --> 00:19:42,200 currently at 94.15%, at 19,000,700 and to 2180.49 BTC. 385 00:19:43,000 --> 00:19:45,560 All right. Well, Dante mentioned something. 386 00:19:45,600 --> 00:19:47,280 Earlier. We will get a. 387 00:19:47,280 --> 00:19:48,960 Chance to dunk on Ethereum again. 388 00:19:48,960 --> 00:19:52,560 I'm glad you brought that up. We are going to be talking about 389 00:19:52,560 --> 00:19:56,040 ETS for a little bit. I know the ETF conversation has 390 00:19:56,040 --> 00:19:58,480 been kind of beaten to a pulp. I guess. 391 00:19:58,480 --> 00:20:00,880 I guess I'll say at this point metaphorically, because Nikko's 392 00:20:00,880 --> 00:20:03,840 not here, but I'm sure a lot of his Bitcoiners are tired. 393 00:20:03,840 --> 00:20:06,520 Obviously here at Simply Bitcoin, we are spot Bitcoin 394 00:20:06,520 --> 00:20:08,160 Maxis. We think you guys should be. 395 00:20:08,240 --> 00:20:11,400 Buying Bitcoin directly, you don't need to buy the paper 396 00:20:11,400 --> 00:20:12,640 Bitcoin. But I get it. 397 00:20:12,640 --> 00:20:15,960 If you are in Tradfi, you got your money locked up in the 398 00:20:15,960 --> 00:20:19,120 Tradfi instruments, then maybe you want to get some Bitcoin 399 00:20:19,120 --> 00:20:21,280 exposure. So do with that information as 400 00:20:21,280 --> 00:20:23,640 you will, but covering the ETFs again. 401 00:20:24,320 --> 00:20:29,600 It is undoubtedly. The best ETF launch ever, 402 00:20:29,840 --> 00:20:32,280 literally ever. And here we got some numbers. 403 00:20:32,280 --> 00:20:37,160 So this was tweeted out by Nate Karachi, president at ETF store. 404 00:20:37,600 --> 00:20:39,880 And of course you know he's covering the ETF. 405 00:20:39,880 --> 00:20:46,640 So 575 ETFs have now launched in 2024 and 14 of the top 30 by 406 00:20:46,640 --> 00:20:51,400 inflow inflows are either spot Bitcoin or a shit coin ETF that 407 00:20:51,400 --> 00:20:55,200 will not be named except when we dunk on it includes 6 of the top 408 00:20:55,200 --> 00:20:57,040 ten. And there are also 2 master 409 00:20:57,040 --> 00:21:00,720 related ETFs in the top 30. So this is probably the point 410 00:21:00,720 --> 00:21:02,840 that we constantly keep stressing that. 411 00:21:02,840 --> 00:21:05,880 And we're gonna say Bitcoin appetite, Bitcoin appetite from 412 00:21:05,880 --> 00:21:09,560 Tradfi is real again. We've been joking all year long. 413 00:21:09,560 --> 00:21:11,680 Don't sell your Bitcoin 'cause you're selling your Bitcoin to 414 00:21:11,680 --> 00:21:16,280 Larry Fink or Michael Saylor. And and now you're starting to 415 00:21:16,280 --> 00:21:18,720 see that it's catching on. We're seeing more big names come 416 00:21:18,720 --> 00:21:21,920 out and say that they have only Bitcoin exposure, that you need 417 00:21:21,920 --> 00:21:24,160 some Bitcoin exposure. I think we started the year at 418 00:21:24,160 --> 00:21:26,760 like when the ETF came out like maybe you should have 1%. 419 00:21:27,080 --> 00:21:29,520 Now the conversation is like, you probably should have like 5 420 00:21:29,520 --> 00:21:31,520 to 10%. We'll soon enough get to the 421 00:21:31,520 --> 00:21:33,640 point where we're like, you need to go all in. 422 00:21:33,800 --> 00:21:36,000 You need to go all in on Bitcoin. 423 00:21:36,240 --> 00:21:39,520 Anyways, going further on this, Eric Balkunis, of course, he 424 00:21:39,520 --> 00:21:42,080 works at Bloomberg, right? Yep, analyst. 425 00:21:42,080 --> 00:21:44,120 Senior ETF analyst at Bloomberg, he goes. 426 00:21:44,120 --> 00:21:45,200 Great. Stats never. 427 00:21:45,320 --> 00:21:48,040 He's just too amazed. I'll go one step further in the 428 00:21:48,040 --> 00:21:52,080 last four years, 1800 ETS have launched and I bid of course the 429 00:21:52,080 --> 00:21:56,760 Black Rock ETF is the most successful of all of them at $26 430 00:21:56,760 --> 00:22:00,440 billion. And then this morning Eric comes 431 00:22:00,440 --> 00:22:03,840 back on Twitter and he goes, we have this tweet here. 432 00:22:03,840 --> 00:22:07,440 Actually, we'll go here 1st and goes Sean goes yet another big 433 00:22:07,440 --> 00:22:11,920 day for BlackRock spot Bitcoin ETF now almost through 400,000 434 00:22:11,920 --> 00:22:16,440 BTC under management liquidation heatmap showing strong potential 435 00:22:16,440 --> 00:22:18,760 upside. Get some and get yours while you 436 00:22:18,760 --> 00:22:20,800 still can. Of course, it's showing some of 437 00:22:20,800 --> 00:22:25,080 the Bitcoin holders here and BlackRock is is it's coming. 438 00:22:25,160 --> 00:22:27,160 You know, it's, it's going for the top spot. 439 00:22:27,160 --> 00:22:30,360 Can they flipping Satoshi out there? 440 00:22:30,360 --> 00:22:32,480 That's the real flipping that we're going. 441 00:22:32,560 --> 00:22:35,920 Going to see and going further, you know, US spot Bitcoin ETF, 442 00:22:35,920 --> 00:22:37,920 which is just covered. BlackRock is basically the 443 00:22:37,920 --> 00:22:40,800 biggest one. It's dwarf grayscale, which had 444 00:22:40,800 --> 00:22:42,400 the head the head start out there. 445 00:22:42,400 --> 00:22:45,600 And it seems like all the money is rotating out of grayscale and 446 00:22:45,600 --> 00:22:48,720 into BlackRock. So soon enough, once we start to 447 00:22:48,720 --> 00:22:53,200 see that more people catch on to the Bitcoin Bitcoin ETF, it 448 00:22:53,200 --> 00:22:56,320 won't just be the rotation of money from, you know, grayscale 449 00:22:56,320 --> 00:22:59,160 into BlackRock. I think we're going to see a new 450 00:22:59,160 --> 00:23:01,880 unlock of liquidity going into Bitcoin. 451 00:23:01,880 --> 00:23:04,160 All right, now go on back to this tweet by Eric Balkunas and 452 00:23:04,160 --> 00:23:09,000 he goes not yet 10 months old. And the ETFs are 97% of the way 453 00:23:09,000 --> 00:23:13,240 to holding 1,000,000 Bitcoin and 87% of the way to passing 454 00:23:13,240 --> 00:23:16,640 Satoshi as the biggest holder. I'll be presenting on this at 455 00:23:16,640 --> 00:23:19,920 Logano. And if you're going to say going 456 00:23:19,920 --> 00:23:23,000 to come, say hi. So it just goes to show that 457 00:23:23,000 --> 00:23:27,520 Tradfly is loving Bitcoin. We've hit the mainstage. 458 00:23:27,520 --> 00:23:30,760 Not only are we in the political discussion, not only are we 459 00:23:30,760 --> 00:23:35,200 getting, you know, the nod from traditional financial asset 460 00:23:35,200 --> 00:23:39,480 managers, we have entered the mainstage and the ETF now is 461 00:23:39,480 --> 00:23:43,080 most likely, I think undoubtedly the best ETF ever. 462 00:23:43,440 --> 00:23:46,600 And I think this is only going to increase, which just goes to 463 00:23:46,600 --> 00:23:51,880 show that there is an and very obvious need and want for 464 00:23:51,880 --> 00:23:54,480 Bitcoin. And of course, that's the first 465 00:23:54,480 --> 00:23:57,120 step, get Bitcoin exposure. The next step is hopefully some 466 00:23:57,120 --> 00:24:00,720 of these people start to actually hold Bitcoin directly. 467 00:24:00,920 --> 00:24:03,400 But we know how the traditional financial world works. 468 00:24:04,080 --> 00:24:07,040 It's very hard for them to get that trad by capital into 469 00:24:07,040 --> 00:24:11,560 Bitcoin, of course. But it just goes to show that 470 00:24:11,760 --> 00:24:14,560 you know, Wall Street has an appetite for Bitcoin. 471 00:24:14,560 --> 00:24:17,080 So shouts out to every single one of you guys out there, 472 00:24:17,160 --> 00:24:21,080 hashtag front Rand Wall Street. It's only matter of time until 473 00:24:21,080 --> 00:24:24,120 Wall Street starts working for us and starts pumping our bags. 474 00:24:24,120 --> 00:24:26,520 So, you know, there's a trade off here, yes. 475 00:24:26,520 --> 00:24:29,080 There's an interest in Bitcoin Yes number is going to go up. 476 00:24:29,640 --> 00:24:33,840 There is and should be a very real concern about how much 477 00:24:33,840 --> 00:24:37,080 Bitcoin goes into these ETF considering that you know, I 478 00:24:37,080 --> 00:24:39,120 know it's what what we get called yesterday. 479 00:24:39,120 --> 00:24:43,200 Paranoid crypto anarchist are concerned about a six 102 order. 480 00:24:44,000 --> 00:24:46,560 Personally think of all this ETF Bitcoin as the government's 481 00:24:46,560 --> 00:24:49,520 Bitcoin, but hey, you know I'm, I'm just a paranoid crypto 482 00:24:49,560 --> 00:24:53,800 anarchist over here but it's just it just goes to show that 483 00:24:53,800 --> 00:24:57,640 the interest in Bitcoin is growing and man it it's been 484 00:24:57,640 --> 00:25:01,400 pretty crazy to see how quickly Wall Street and the 485 00:25:01,440 --> 00:25:03,000 institutional. Capitals of the world are 486 00:25:03,000 --> 00:25:04,520 adopting Bitcoin Jump. In. 487 00:25:04,840 --> 00:25:09,960 So, so here's so that I saw stat this morning, 47% of all 488 00:25:09,960 --> 00:25:12,680 traditional hedge funds now hold Bitcoin. 489 00:25:12,680 --> 00:25:16,120 And most of that's going to be through ETFs and it's 15 of the 490 00:25:16,120 --> 00:25:19,880 top 25 hedge funds in the world now on Bitcoin. 491 00:25:20,080 --> 00:25:22,520 And I think the thing that's most critical for people to 492 00:25:22,520 --> 00:25:25,680 know, a lot of people don't know, Larry Fink started out at 493 00:25:25,680 --> 00:25:28,040 this bank way back in the day, I think it was called First Bank 494 00:25:28,040 --> 00:25:30,680 or First Boston Bank. And he was one of the original 495 00:25:30,680 --> 00:25:32,400 creators of mortgage-backed securities. 496 00:25:32,400 --> 00:25:37,520 This is like 1987 or 19861987. He blew up the fund. 497 00:25:38,200 --> 00:25:40,120 They lost, you know, $100 million. 498 00:25:40,480 --> 00:25:41,560 They were getting ready to fire him. 499 00:25:41,560 --> 00:25:43,040 He was depressed, down on his luck. 500 00:25:43,040 --> 00:25:46,280 Steve Schwarzman, a couple guys from Blackstone who actually 501 00:25:46,280 --> 00:25:48,760 spun out Black Rock, said that, hey, you're one of the most 502 00:25:48,760 --> 00:25:51,520 talented guys on Wall Street. You're 35 years old, we're going 503 00:25:51,520 --> 00:25:54,000 to give you a shot. They gave him a $5,000,000 loan. 504 00:25:54,200 --> 00:25:58,320 The dude only took out $150,000 on that $5,000,000 loan to start 505 00:25:58,320 --> 00:26:00,640 Black Rock. They went from like a couple 506 00:26:00,640 --> 00:26:03,560 $100 million in assets under management to like a billion in 507 00:26:03,560 --> 00:26:06,040 less than a few years. And then they got up to a 508 00:26:06,040 --> 00:26:08,520 trillion in 2000 when they went public. 509 00:26:08,840 --> 00:26:12,720 So Larry Fink was the creator of mortgage-backed securities and 510 00:26:12,720 --> 00:26:16,560 then in the early, late 90s, he was one of the first people to 511 00:26:16,560 --> 00:26:19,000 adopt ETF. So this guy is a market maker 512 00:26:19,000 --> 00:26:21,520 through and through. Everybody asks why he has so 513 00:26:21,520 --> 00:26:25,880 much influence on the world. He's by most in all accounts in 514 00:26:25,880 --> 00:26:28,320 the Wall Street world, doesn't mean a whole lot in the real 515 00:26:28,320 --> 00:26:30,520 world, but one of the most talented people in that that 516 00:26:30,520 --> 00:26:33,880 field and in that sphere. In 2020, so much so the United 517 00:26:33,880 --> 00:26:36,560 States government called Larry Fink in order to help them think 518 00:26:36,560 --> 00:26:39,400 about restructuring their bonds and their bond duration 519 00:26:39,400 --> 00:26:42,480 portfolio. So literally, Larry Fink is the 520 00:26:42,480 --> 00:26:44,560 king of finance. So when he came out and when he 521 00:26:44,560 --> 00:26:48,960 flipped in 2022 to start to kind of change his tone on Bitcoin 522 00:26:48,960 --> 00:26:51,640 from an absolute Ponzi scheme all the way into launching the 523 00:26:51,640 --> 00:26:54,680 ETF, you knew that it was big. That was your time to buy. 524 00:26:55,680 --> 00:26:58,880 And so like, honestly, it, it is what it is. 525 00:26:59,120 --> 00:27:03,160 A lot of people get so caught up on whether you know, it's 526 00:27:03,160 --> 00:27:05,160 Michael Saylor. Now that's a whole big debate. 527 00:27:05,160 --> 00:27:07,120 Like everybody loves Michael Saylor when he's pumping their 528 00:27:07,120 --> 00:27:09,440 bags and the micro strategy flywheel is pumping. 529 00:27:09,960 --> 00:27:12,560 They issue more convertible bonds or more stock in order to 530 00:27:12,560 --> 00:27:14,200 buy more Bitcoin, which pumps their price. 531 00:27:14,400 --> 00:27:17,040 Everybody loves Michael Saylor. Then then he talks about 532 00:27:17,040 --> 00:27:21,120 financial products or Bitcoin yield is how they're kind of 533 00:27:21,120 --> 00:27:23,800 determining their cash on cash or the return that they get on 534 00:27:23,800 --> 00:27:26,880 their Bitcoin. And then you know, like Al 535 00:27:26,880 --> 00:27:29,160 Schlischmann and River comes out with a Bitcoin yield product and 536 00:27:29,160 --> 00:27:32,800 everybody loves it. Like Long story short, like 537 00:27:33,000 --> 00:27:35,000 Bitcoin is universal for everybody. 538 00:27:35,000 --> 00:27:37,880 Now there are levels to this. There is no second best. 539 00:27:37,880 --> 00:27:40,960 So in terms of Bitcoin versus other ETFs, there is no second 540 00:27:40,960 --> 00:27:42,560 best. The Bitcoin ETF is the best 541 00:27:43,080 --> 00:27:46,480 Bitcoin ETS versus real Bitcoin. There is no second best. 542 00:27:46,640 --> 00:27:49,120 There is only the right thing, which is buying real Bitcoin. 543 00:27:49,400 --> 00:27:51,400 And so I do believe, like everyone says, Blackrock's 544 00:27:51,400 --> 00:27:54,000 buying this, Blackrock's buying it in a trust on behalf of their 545 00:27:54,000 --> 00:27:56,280 shareholders. Now, is there a honeypot risk? 546 00:27:57,040 --> 00:28:00,120 Is there concentration risk? Is there a risk that the United 547 00:28:00,120 --> 00:28:03,200 States government will not be able to pay their unfunded 548 00:28:03,200 --> 00:28:06,400 liabilities or all of their Medicare, their Social Security? 549 00:28:06,400 --> 00:28:07,800 We all know that those things aren't true. 550 00:28:08,160 --> 00:28:12,080 Is your pot of Bitcoin in an ETF through a government at risk? 551 00:28:12,080 --> 00:28:15,800 In that scenario, absolutely. Seizure and confiscation is not 552 00:28:15,800 --> 00:28:17,280 realistic. Lynn Alden actually had a 553 00:28:17,280 --> 00:28:20,520 nostril post recently saying that seizure and. 554 00:28:20,520 --> 00:28:24,280 Confiscation in a digital era like is not realistic at all. 555 00:28:24,480 --> 00:28:28,600 But what is realistic is taxing or confiscating through products 556 00:28:28,600 --> 00:28:31,600 and retirement portfolios because the only thing that 557 00:28:31,600 --> 00:28:36,120 actually gives your financial or retirement portfolio the tax 558 00:28:36,120 --> 00:28:39,520 free advantage is because the government says so, not because 559 00:28:39,520 --> 00:28:43,560 the asset held in a 401K versus a Roth IRA versus you personally 560 00:28:43,760 --> 00:28:46,040 is any different. It's no different. 561 00:28:46,360 --> 00:28:48,640 It's just what the government tells you about that thing and 562 00:28:48,640 --> 00:28:50,160 whether you're going to have to pay taxes on it. 563 00:28:50,520 --> 00:28:53,640 So for me, like I always say, hold it personally, like there's 564 00:28:53,640 --> 00:28:55,400 no question about that. But like. 565 00:28:55,520 --> 00:28:57,200 It are. Is Wall Street going to get into 566 00:28:57,200 --> 00:28:57,920 it? Yes. 567 00:28:58,080 --> 00:29:00,000 Are mortgage-backed securities a thing? 568 00:29:00,320 --> 00:29:02,560 Yes. Will there be bubbles that get 569 00:29:02,560 --> 00:29:05,000 created on top of Bitcoin back products? 570 00:29:05,280 --> 00:29:07,680 Absolutely. But what does that represent for 571 00:29:07,680 --> 00:29:09,800 you? An opportunity to buy. 572 00:29:10,480 --> 00:29:12,920 The richest people in America right now are the people who 573 00:29:12,920 --> 00:29:15,680 bought real estate in 2009 and 2010. 574 00:29:16,560 --> 00:29:19,680 The bubble is what created the opportunity for wealth in real 575 00:29:19,680 --> 00:29:21,960 estate, not the other way around. 576 00:29:22,080 --> 00:29:23,680 And so people say that this is a bad thing. 577 00:29:23,680 --> 00:29:27,040 If you have a long term view and a long term perspective, keep 578 00:29:27,040 --> 00:29:28,280 buying. Buy the real thing. 579 00:29:28,280 --> 00:29:30,160 There is no second best. That's kind of my thoughts on 580 00:29:30,160 --> 00:29:31,200 it. It's going to happen, Larry 581 00:29:31,200 --> 00:29:32,280 thinks. A market creator. 582 00:29:32,720 --> 00:29:35,600 He's the best in the world. No, no surprise that it's the 583 00:29:35,600 --> 00:29:37,440 most successful product of all time. 584 00:29:37,680 --> 00:29:39,280 You even hear it in their earnings reports. 585 00:29:39,280 --> 00:29:43,120 It's driving the majority of Black Rocks profits in their 586 00:29:43,120 --> 00:29:46,720 assets under management and so not a surprise. 587 00:29:46,760 --> 00:29:50,040 Will will keep happening and yeah, glad that we have guys 588 00:29:50,040 --> 00:29:54,360 like Michael Michael Saylor, Michael Michael Strategy Micro 589 00:29:54,360 --> 00:29:56,920 Sailor, however you want to say it on. 590 00:29:56,920 --> 00:30:00,800 Board, because if we didn't. We'd have guys like Jamie Dimon, 591 00:30:00,920 --> 00:30:04,000 so pick your poison. Let's go. 592 00:30:04,000 --> 00:30:05,880 Hold on. Everyone in the chat says Don, 593 00:30:05,960 --> 00:30:09,800 let's go. Anyways, we are going to be 594 00:30:09,800 --> 00:30:11,760 talking about taxes in in the news. 595 00:30:11,760 --> 00:30:14,040 We do have a a recent development on taxes. 596 00:30:14,040 --> 00:30:16,280 So I'm glad you brought that up because that is going to be the 597 00:30:16,280 --> 00:30:18,800 news story today. But before we do that, Dante, 598 00:30:18,800 --> 00:30:21,560 before I forget, I'm going to give you the floor so we can 599 00:30:21,560 --> 00:30:24,560 cook Ethereum a little bit. So I saw this tweet here 600 00:30:24,560 --> 00:30:28,440 yesterday from Thomas Throwlight and he goes, Bitcoin is worth a 601 00:30:28,440 --> 00:30:30,520 trillion dollars more than Ethereum. 602 00:30:30,520 --> 00:30:32,280 And you can check a coin market cap here. 603 00:30:32,280 --> 00:30:35,280 Because of course in that ETF news that they were kind of 604 00:30:35,280 --> 00:30:38,200 bundling the ETF with the Bitcoin ETF. 605 00:30:38,200 --> 00:30:39,720 Of course, there's no second best. 606 00:30:39,720 --> 00:30:42,000 It's it's Bitcoin and everything else is a shit coin. 607 00:30:42,280 --> 00:30:45,760 But it is actually kind of crazy that Bitcoin now is worth a 608 00:30:45,840 --> 00:30:49,120 trillion dollars more than ETH. Whatever happened to the the 609 00:30:49,120 --> 00:30:51,240 flipping here? It's not eats what's going to 610 00:30:51,240 --> 00:30:53,560 take over the world. So Dante, I'm going to give you 611 00:30:53,560 --> 00:30:55,200 this moment. You want to cook eats a little 612 00:30:55,200 --> 00:30:58,280 bit. Maybe this dissuade someone from 613 00:30:58,280 --> 00:31:01,280 buying this trash coin known as Etherium. 614 00:31:04,720 --> 00:31:07,680 That's my sailor side. So. 615 00:31:07,720 --> 00:31:12,080 So look, the last time we've heard from Vitalik was him 616 00:31:12,080 --> 00:31:16,880 getting commented through these articles 2 days ago about him, 617 00:31:16,880 --> 00:31:19,960 him making a comment about Michael Saylor saying that you 618 00:31:19,960 --> 00:31:21,880 know, Bitcoin held in institutions a terrible 619 00:31:21,880 --> 00:31:24,560 strategy. That's been your entire strategy 620 00:31:24,560 --> 00:31:30,240 from the beginning was literally to Co opt Ethereum with the guys 621 00:31:30,320 --> 00:31:34,960 at JP Morgan and Web 3 and Metamask in order for 622 00:31:34,960 --> 00:31:37,120 governments to create their own privatized block chains. 623 00:31:37,120 --> 00:31:39,200 That's literally been your path from the very beginning. 624 00:31:39,840 --> 00:31:42,400 So proof of stake, proof of trash there. 625 00:31:42,480 --> 00:31:46,200 There's no no value in here that it's inherently not valuable. 626 00:31:46,480 --> 00:31:49,080 All of the people that were riding on the backs of crypto 627 00:31:49,080 --> 00:31:50,760 ETFs have been absolutely killed. 628 00:31:50,760 --> 00:31:54,760 You haven't heard anything in the media about the ETFs 629 00:31:54,760 --> 00:31:57,120 because? They're they're not existed. 630 00:31:57,120 --> 00:31:59,360 They're not worthy to even be talked about. 631 00:32:00,320 --> 00:32:03,400 Like there's no second best in all asset classes. 632 00:32:03,520 --> 00:32:07,600 ETH is no, no, no. I guess no different than 633 00:32:07,600 --> 00:32:10,480 anything else. The world Computer the the 634 00:32:10,480 --> 00:32:13,720 Worldwide Compute Network that would allow you to earn a yield 635 00:32:13,720 --> 00:32:17,480 via staking your assets. The dumbest thing that I've ever 636 00:32:17,480 --> 00:32:19,920 heard. And so now it's just kind of 637 00:32:19,920 --> 00:32:22,240 coming back out like it's coming full circle. 638 00:32:22,560 --> 00:32:25,320 We only hear about Vitalik when he's talking about Bitcoin these 639 00:32:25,320 --> 00:32:27,520 days because no one's talking about Ethereum. 640 00:32:27,880 --> 00:32:30,320 Nobody cares. I hope it continues to get 641 00:32:30,320 --> 00:32:33,720 buried. The the ratio is like .3, I 642 00:32:33,720 --> 00:32:37,800 don't know, 3-6 or three, three. I think we'll see below a .3 643 00:32:37,800 --> 00:32:41,640 ratio of Bitcoin to ETH in this next bull cycle and it's not 644 00:32:41,640 --> 00:32:44,920 coming back. Let's go well, you know we we 645 00:32:44,920 --> 00:32:49,800 don't do it enough here and shit on Ethereum because we are just 646 00:32:49,800 --> 00:32:52,200 Bitcoin focused but absolutely love it. 647 00:32:53,320 --> 00:32:57,800 I also can't help but throw an opportunity to to spread the 648 00:32:57,800 --> 00:33:00,040 signal that it's Bitcoin only This is why we're simply 649 00:33:00,040 --> 00:33:02,320 Bitcoin. This is why everything we tell 650 00:33:02,320 --> 00:33:06,240 you is to just buy some Bitcoin, hold it long term, take it in 651 00:33:06,240 --> 00:33:09,360 the cold storage, run a node. This is how you win guys keep it 652 00:33:09,360 --> 00:33:11,440 simple. Do not gamble in the shit coin 653 00:33:11,440 --> 00:33:14,160 casino and I think. I think, you know, the market 654 00:33:14,160 --> 00:33:17,480 speaking for itself, people do not want to hold Ethereum. 655 00:33:17,680 --> 00:33:20,880 Yes, they got their ETF, like you said, because of maybe their 656 00:33:20,880 --> 00:33:23,280 connections with Wall Street. And that's probably why they got 657 00:33:23,280 --> 00:33:26,080 that approved, even though Gary Ginza for a long time was 658 00:33:26,080 --> 00:33:28,040 saying, hey, wait. Isn't this a security? 659 00:33:28,680 --> 00:33:31,200 But hey, you know, they're going to play some trickery out there 660 00:33:31,200 --> 00:33:33,640 and do some favoritism. But that's that's a whole other 661 00:33:33,640 --> 00:33:35,840 story. Let's get into the news story 662 00:33:35,840 --> 00:33:39,000 because we do have a very interesting news story today 663 00:33:39,000 --> 00:33:42,320 coming out of Denmark. And it is a threat, you know, a 664 00:33:42,320 --> 00:33:44,920 theme. We've been talking about here on 665 00:33:44,920 --> 00:33:49,440 the show for a long time about as Bitcoin starts to completely 666 00:33:49,440 --> 00:33:52,520 win and get out of the race, countries are going to start to 667 00:33:52,520 --> 00:33:54,720 try to clamp down and do capital controls. 668 00:33:54,720 --> 00:33:58,440 And we did talk about that Lynn Alden post the other day and 669 00:33:58,440 --> 00:34:00,760 maybe maybe I should find it real quick and we can talk about 670 00:34:00,760 --> 00:34:02,840 it while I cover the news. All right, let's. 671 00:34:02,880 --> 00:34:03,760 Let's get into it guys. 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Make sure you scan the QR code. 708 00:36:14,920 --> 00:36:18,600 This is the way guys use the promo code simply and protect 709 00:36:18,760 --> 00:36:22,920 your Bitcoin the right way. All right guys, as I was telling 710 00:36:22,920 --> 00:36:26,280 you actually maybe let me full screen this or no no, I'll cover 711 00:36:26,280 --> 00:36:27,960 it in there's a there's a note here. 712 00:36:27,960 --> 00:36:30,400 So we've been covering this theme on the show for a long 713 00:36:30,400 --> 00:36:32,280 time. Remember last week we had the 714 00:36:32,280 --> 00:36:35,560 talk from Italy proposing capital gains tax, raising the 715 00:36:35,560 --> 00:36:37,480 capital gains tax from, I believe 26. 716 00:36:37,480 --> 00:36:41,160 To 42. Percent, we also saw Kamala this 717 00:36:41,160 --> 00:36:43,880 year or the Biden administration come out and say that they're 718 00:36:43,880 --> 00:36:48,960 proposing a 25% capital gains tax on just Bitcoin itself and 719 00:36:49,040 --> 00:36:52,880 and now we're seeing that in Denmark, they are proposing a 720 00:36:52,880 --> 00:36:58,000 bill to tax unrealized cryptocurrency capital gains tax 721 00:36:58,000 --> 00:37:00,400 next year. So I am over here on no BS 722 00:37:00,400 --> 00:37:01,080 Bitcoin. I will. 723 00:37:01,080 --> 00:37:04,600 Jump to the source for a little bit, but just kind of doing the 724 00:37:04,600 --> 00:37:07,080 TLDR here. This new bill is expected to 725 00:37:07,080 --> 00:37:10,440 present it to the Danish parliament in early 2025, with 726 00:37:10,440 --> 00:37:13,320 the country's Tax Law Council recommending that the rules 727 00:37:13,320 --> 00:37:17,000 should not be implemented before January 1st 2026. 728 00:37:17,000 --> 00:37:20,200 At the earliest, so the Danish. History of taxation recommends 729 00:37:20,200 --> 00:37:23,880 taxing unrealized gains and losses on cryptocurrency assets 730 00:37:24,080 --> 00:37:26,160 in the same way it taxes stocks and bonds. 731 00:37:26,360 --> 00:37:29,160 You know recommend they drop the 93 page report talking about 732 00:37:29,160 --> 00:37:31,720 this. So let me let me go to the 733 00:37:31,720 --> 00:37:34,840 source here. I'm on Atlas 21 kind of jumping 734 00:37:34,880 --> 00:37:36,720 jumping in giving it a little more context. 735 00:37:36,720 --> 00:37:39,760 So again, headline Denmark proposal for taxation on 736 00:37:39,760 --> 00:37:43,120 unrealized cryptocurrency gains. The Danish tax proposal on 737 00:37:43,120 --> 00:37:45,880 unrealized crypto gains. The goal is to implement new 738 00:37:45,880 --> 00:37:49,720 regulations by 2026. The Danish Tax Council has 739 00:37:49,720 --> 00:37:53,080 recently suggested the introduction of a bill to tax 740 00:37:53,080 --> 00:37:56,680 unrealized gains and losses related to quote digital assets 741 00:37:56,680 --> 00:37:58,560 and the details of the council reports. 742 00:37:58,680 --> 00:38:02,040 In a 93 page report on the tax regime applicable to crypto 743 00:38:02,040 --> 00:38:05,760 currencies, the council examined 3 potential methodologies for 744 00:38:05,760 --> 00:38:09,600 taxing digital assets, a capital gain taxation, a warehouse 745 00:38:09,600 --> 00:38:12,680 taxation and an inventory taxation, and the report 746 00:38:12,680 --> 00:38:15,920 proposes a uniform approach to the taxation of digital assets 747 00:38:16,120 --> 00:38:19,520 valid in all contexts. Danish Tax Minister Ross miss 748 00:38:19,520 --> 00:38:23,720 Stockland Stockland emphasized the need for a clearer rules to 749 00:38:23,720 --> 00:38:26,400 avoid unfair taxation under the current regime. 750 00:38:26,600 --> 00:38:30,480 Sounds like an oxymoron unfair taxation, but clearer rules and 751 00:38:30,480 --> 00:38:34,080 you're going to tax unrealized, you know, gains cap gains on 752 00:38:34,080 --> 00:38:37,080 just Bitcoin or digital assets. Interesting all right so the 753 00:38:37,080 --> 00:38:39,280 preference is for this inventory model. 754 00:38:39,560 --> 00:38:41,680 Among the alternatives discussed, the report leans 755 00:38:41,680 --> 00:38:45,200 towards the quote inventory inventory taxation model. 756 00:38:45,520 --> 00:38:48,560 This model stipulates that the entire cryptocurrency wallet is 757 00:38:48,560 --> 00:38:52,480 considered a single inventory tax on an annual basis at a 758 00:38:52,480 --> 00:38:55,640 specific date, regardless of the sale of the assets. 759 00:38:56,000 --> 00:38:58,720 In a similar scenario, digital assets would be treated like 760 00:38:58,720 --> 00:39:02,240 other financial instruments such as stocks and bonds, taxing both 761 00:39:02,280 --> 00:39:05,640 unrealized gains and losses. And detail regarding the 762 00:39:05,640 --> 00:39:08,480 retroactive application of the tax rules for current wallets 763 00:39:08,480 --> 00:39:11,440 remains unspecified. Some additional proposals 764 00:39:11,440 --> 00:39:13,880 suggest that service providers for digital assets. 765 00:39:14,400 --> 00:39:17,960 Excuse me, such as exchanges or cryptocurrency payment companies 766 00:39:18,120 --> 00:39:21,320 should collect and share data on customer transactions. 767 00:39:21,560 --> 00:39:24,880 This information could support collaboration amongst European 768 00:39:24,880 --> 00:39:28,760 Union countries on tax matters. Of course, the timeline is no 769 00:39:28,760 --> 00:39:32,360 earlier than 2025, may be implemented by January 1st of 770 00:39:32,360 --> 00:39:35,920 2026. And I think this is the context 771 00:39:35,920 --> 00:39:37,840 that we've been talking about. We've been covering it on the 772 00:39:37,840 --> 00:39:40,640 show, the international contacts. 773 00:39:40,640 --> 00:39:44,720 So the Danish proposal fits into a growing international mosaic 774 00:39:44,720 --> 00:39:47,040 of tax regulations for crypto currencies. 775 00:39:47,240 --> 00:39:50,800 In the United States, for example, a 25% tax on unsold 776 00:39:50,800 --> 00:39:54,240 assets has been proposed by presidential candidate Kamala 777 00:39:54,240 --> 00:39:56,440 Harris. At the same time, Italy is 778 00:39:56,440 --> 00:39:59,440 considering an increase in taxes on capital gains for holders of 779 00:39:59,440 --> 00:40:04,200 Bitcoin and digital assets, raising it from 26 to 42% by 780 00:40:04,360 --> 00:40:08,720 2025. Which is, I think, just more 781 00:40:08,720 --> 00:40:10,640 signal to what we've been saying. 782 00:40:10,640 --> 00:40:13,520 Remember, of course, Chrissy Lagarde's been going out there 783 00:40:13,520 --> 00:40:18,040 for years basically saying that. If there is an escape patch, if 784 00:40:18,040 --> 00:40:20,960 there is an escape boat that we have to stop it. 785 00:40:21,320 --> 00:40:25,000 Of course, they want you to stay having fun being poor. 786 00:40:25,160 --> 00:40:27,160 They want you to keep you into the system. 787 00:40:27,440 --> 00:40:30,560 And they are doing whatever they can to incentivize you with, you 788 00:40:30,560 --> 00:40:36,640 know, fear of violence and fines to ensure that you cannot start 789 00:40:36,640 --> 00:40:39,040 to prosper, that you can't increase your purchasing power 790 00:40:39,040 --> 00:40:42,000 by holding Bitcoin. So I think this is, I wouldn't 791 00:40:42,000 --> 00:40:45,360 say the last gasp of a dying Fiat system, but you can tell 792 00:40:45,480 --> 00:40:47,880 that they're they're afraid, especially when you kind of link 793 00:40:47,880 --> 00:40:52,200 that with the ECB report about, you know, how they can control 794 00:40:52,200 --> 00:40:54,760 Bitcoin. We saw the Fed do another report 795 00:40:54,760 --> 00:40:57,640 about maybe the best way. If Bitcoin wins, you know, we 796 00:40:57,640 --> 00:41:00,320 should tax it. So now I think we've gotten to 797 00:41:00,520 --> 00:41:02,720 obviously that then they fight you stage. 798 00:41:02,840 --> 00:41:05,480 Where at first? They're like, let's ignore them. 799 00:41:05,720 --> 00:41:08,720 Remember Neel Kashkari just came out and said, oh, Bitcoin is 800 00:41:08,720 --> 00:41:10,760 worthless. And then literally in the same 801 00:41:10,760 --> 00:41:14,360 week, he's like, well, maybe if it's worthless, we should still 802 00:41:14,360 --> 00:41:16,720 tax them. This is how we can control it. 803 00:41:16,720 --> 00:41:18,720 So which one is it? Is it worthless or do you want 804 00:41:18,720 --> 00:41:21,040 to tax us? But I think the theme remains 805 00:41:21,040 --> 00:41:24,280 the same that there is. And if you connect this with 806 00:41:24,280 --> 00:41:28,000 what's going on in the BRICS Summit, there is an active 807 00:41:28,000 --> 00:41:32,280 narrative or an active appreciation, an active move 808 00:41:32,280 --> 00:41:35,080 towards people escaping Fiat currencies. 809 00:41:35,360 --> 00:41:38,920 If you are not as well entrenched in economics and 810 00:41:38,920 --> 00:41:41,960 traditional financial world and macroeconomics at large, you 811 00:41:41,960 --> 00:41:44,400 know, you may not understand what's going on, but it's all 812 00:41:44,400 --> 00:41:45,400 remaining the same. People. 813 00:41:45,480 --> 00:41:47,640 People are realizing there's a problem with Fiat currencies. 814 00:41:47,880 --> 00:41:50,600 People are realizing that maybe I don't want to hold paper debt 815 00:41:50,600 --> 00:41:53,760 as my money right now. Maybe there's an alternative. 816 00:41:54,000 --> 00:41:57,640 What is that alternative? Obviously we think it's Bitcoin 817 00:41:57,880 --> 00:42:00,480 and especially when you connect this with what we saw. 818 00:42:00,840 --> 00:42:03,600 All. Of this year 2024 with Operation 819 00:42:03,600 --> 00:42:07,400 Choke .2 point O you're seeing that the powers that be the the 820 00:42:07,400 --> 00:42:10,800 elites, if you will I, I don't like using that word, but you're 821 00:42:10,800 --> 00:42:13,600 seeing that they are panicking out there and they want to 822 00:42:13,600 --> 00:42:18,160 ensure that the sheep cattle stay in their system where they 823 00:42:18,160 --> 00:42:22,000 can tax you, where you know they can shut you off from the system 824 00:42:22,000 --> 00:42:25,680 where they can debank you, where they can stop transactions and 825 00:42:25,680 --> 00:42:29,920 hopefully moving you you toward a dystopian CBDC digital 826 00:42:29,920 --> 00:42:32,680 currency system. We all know that's the play. 827 00:42:32,840 --> 00:42:36,360 We've been covering it all year long, but it is very interesting 828 00:42:36,400 --> 00:42:40,320 that countries around the world are ramping up their control 829 00:42:40,320 --> 00:42:43,560 mechanisms from capital flight. And this is what we're. 830 00:42:43,560 --> 00:42:45,960 Seeing, I think we're going to see more of this plan out not 831 00:42:45,960 --> 00:42:49,880 only the end of this year, but moving into the future that as 832 00:42:49,880 --> 00:42:53,080 people find the need to wake up and start to save in Bitcoin, 833 00:42:53,440 --> 00:42:56,520 the powers that be, those in control, obviously trying to 834 00:42:56,520 --> 00:42:59,640 maintain their power are going to do whatever they can to stop 835 00:42:59,640 --> 00:43:03,000 people from moving into Bitcoin. And obviously taxing us out of 836 00:43:03,000 --> 00:43:07,560 existence on our unrealized gains is absolutely ludicrous 837 00:43:07,560 --> 00:43:11,080 and definitely a way to ensure that you can't maintain your 838 00:43:11,080 --> 00:43:13,960 purchasing power. And Dante, you jump in on this 839 00:43:13,960 --> 00:43:16,840 and then I'm going to pull up the the Lynn Alden tweet. 840 00:43:16,840 --> 00:43:18,640 So maybe if you want to reference that as well. 841 00:43:18,880 --> 00:43:20,840 But what's your thoughts? First of all, what's your 842 00:43:20,840 --> 00:43:25,320 initial knee jerk reaction to this Denmark proposal of taxing 843 00:43:25,320 --> 00:43:29,400 unrealized gains on just digital assets or, you know, Bitcoin and 844 00:43:29,400 --> 00:43:33,520 crypto? Well, I'm going to go ahead and 845 00:43:33,520 --> 00:43:36,920 caveat my whole thinking on Denmark is what I call the 846 00:43:36,960 --> 00:43:39,200 Denmark discount. Like I'm a discount anything 847 00:43:39,200 --> 00:43:41,800 that's coming out of Denmark because the whole, the whole 848 00:43:41,800 --> 00:43:44,080 economy is propped up on fraud and stuff that doesn't actually 849 00:43:44,080 --> 00:43:47,120 work. So fraud number one, I think 850 00:43:47,120 --> 00:43:50,160 they're the largest exporter in the world of wind and turbine 851 00:43:50,160 --> 00:43:53,040 energy. Which we all know is just so 852 00:43:53,040 --> 00:43:55,560 much of a fraud, right? We talk about ESG and how it's 853 00:43:55,560 --> 00:43:57,200 going to be sustainable for the environment. 854 00:43:57,400 --> 00:44:00,080 And then you drive by like any field on your way up to Chicago, 855 00:44:00,080 --> 00:44:02,400 and you see about a billion dead birds in the middle of the 856 00:44:02,400 --> 00:44:04,360 field. And all the concrete that's 857 00:44:04,360 --> 00:44:08,080 there, right, is a sustainable and ESG positive for you. 858 00:44:08,600 --> 00:44:10,560 You can't use it right in the grid directly. 859 00:44:10,560 --> 00:44:11,800 Battery storage isn't good enough. 860 00:44:11,800 --> 00:44:14,880 But like a lot of their economies built up on wind and 861 00:44:14,880 --> 00:44:19,880 turbine energy fraud #1 fraud #2 Novo Nordisk, it's like their 862 00:44:19,880 --> 00:44:23,000 poster child, right? Which we know has been coming 863 00:44:23,000 --> 00:44:25,080 out with fraudulent drugs, right? 864 00:44:25,080 --> 00:44:28,080 We we don't need to go down that whole, that whole rabbit hole 865 00:44:28,080 --> 00:44:31,200 there. But yeah, that's that's Denmark. 866 00:44:31,200 --> 00:44:33,480 And you know, the last time they were relevant in a sports 867 00:44:33,480 --> 00:44:35,960 perspective, I think they had two guys in the Tour de France. 868 00:44:35,960 --> 00:44:38,440 I will give them this. That they did that did win, but 869 00:44:38,440 --> 00:44:39,920 we don't know. The Tour de France is full of 870 00:44:39,920 --> 00:44:42,240 cheaters. So if you ain't cheating, you 871 00:44:42,240 --> 00:44:43,640 ain't trying in the Tour de France. 872 00:44:44,880 --> 00:44:47,960 And then I think they had a guy win the world championship in 873 00:44:47,960 --> 00:44:51,920 badminton in like 2020. So overall, I'm applying the 874 00:44:51,920 --> 00:44:55,920 Denmark discount to this. But what you saw with Norway is 875 00:44:55,920 --> 00:44:59,960 they wanted to impose a wealth tax on the wealthiest people in 876 00:44:59,960 --> 00:45:02,520 their country. And what ended up happening, 877 00:45:02,520 --> 00:45:05,200 they thought that they would generate like another like 140, 878 00:45:05,200 --> 00:45:09,440 you know, million in revenue. But literally five $54 billion 879 00:45:09,440 --> 00:45:12,920 worth of net worth and revenue left the country. 880 00:45:13,720 --> 00:45:17,360 And so they end up getting tax losses of like $500 million when 881 00:45:17,360 --> 00:45:19,160 they thought that they. Were going to generate revenue. 882 00:45:19,360 --> 00:45:24,040 So literally this never works. It's one of the dumbest policies 883 00:45:24,040 --> 00:45:26,800 that you can enact. I do it to my kids though all 884 00:45:26,800 --> 00:45:27,880 the time. I'm not going to lie. 885 00:45:27,880 --> 00:45:30,600 I'm like Denmark, Daddy, if you, if you want me to put, put it 886 00:45:30,600 --> 00:45:33,480 out there, I'll be imposing taxes on stuff that they 887 00:45:33,480 --> 00:45:37,120 thinking about doing. Like that's what this is like. 888 00:45:37,120 --> 00:45:40,640 I'm going to tax this thing that hasn't even happened yet. 889 00:45:41,160 --> 00:45:43,680 Like go outside if you want to without shoes on. 890 00:45:44,280 --> 00:45:47,520 I'm already going to put some marbles in the floor just so 891 00:45:47,520 --> 00:45:50,160 your feet feel the fire of going outside. 892 00:45:50,160 --> 00:45:52,480 And you might think about going outside without putting shoes on 893 00:45:52,600 --> 00:45:54,160 instead of dragging this dirt through the house. 894 00:45:54,320 --> 00:45:56,680 So I call it the Denmark discount. 895 00:45:56,880 --> 00:46:00,920 It's a nothing burger to me. It's a stupid policy. 896 00:46:00,920 --> 00:46:02,920 More wealth is going to leave the country then it's going to 897 00:46:02,920 --> 00:46:05,880 come into the country. And all of these wealthy 898 00:46:05,880 --> 00:46:09,400 pharmaceutical holders in Novo Nordisk and in all of these 899 00:46:09,400 --> 00:46:12,560 different industries are just going to put their assets in 900 00:46:12,560 --> 00:46:13,960 other countries. They're going to put them in 901 00:46:13,960 --> 00:46:14,920 Swiss banks. They're going to. 902 00:46:14,920 --> 00:46:18,480 Put them in in Bitcoin or more Bitcoin friendly jurisdictions 903 00:46:18,480 --> 00:46:22,280 because it's an asset class whether you like it or not that 904 00:46:22,280 --> 00:46:25,880 people want to invest into and so either you can get with it. 905 00:46:26,520 --> 00:46:29,480 Or you can exclude yourself from the gains that are going to come 906 00:46:29,480 --> 00:46:32,160 from it. But either way you lose. 907 00:46:32,160 --> 00:46:35,000 If you try to ban it, you just ban yourself from the 908 00:46:35,000 --> 00:46:39,480 opportunities that come from it. So Denmark is another, you know, 909 00:46:39,480 --> 00:46:41,360 example. In this case, more wealth is 910 00:46:41,360 --> 00:46:43,160 going to leave Denmark then it's going to stay there. 911 00:46:43,560 --> 00:46:47,280 And I don't really take them seriously to be honest. 912 00:46:48,080 --> 00:46:50,880 Yeah, it really does sound like, you know, it's a proposal. 913 00:46:50,880 --> 00:46:53,840 And even if they do try to implement it, like not even 914 00:46:53,840 --> 00:46:56,760 getting into all the details and the technicalities of of this 915 00:46:56,760 --> 00:47:00,240 playing out like it, it feels like they're going to abandon 916 00:47:00,240 --> 00:47:01,520 this. Hopefully there's enough 917 00:47:01,520 --> 00:47:04,680 backlash where if people in Denmark are, you know, not just 918 00:47:04,680 --> 00:47:07,680 sleepwalking into their own gilded cage and they're like, 919 00:47:07,960 --> 00:47:11,200 no, this is not a good idea. Like, what are you saying? 920 00:47:11,440 --> 00:47:15,280 And especially when you kind of think about like these 921 00:47:15,280 --> 00:47:18,520 unrealized capital gains tax are being caused because they are 922 00:47:18,520 --> 00:47:21,720 debasing the Fiat currency. And then there's even like, you 923 00:47:21,720 --> 00:47:25,800 know, if, if this does spread like unrealized capital gains 924 00:47:25,800 --> 00:47:28,840 tax, say on your house or something, they're going to be 925 00:47:28,840 --> 00:47:32,920 so incentivized to just start confiscating people's assets 926 00:47:32,920 --> 00:47:36,680 because the dollar or any Fiat local currency is just getting 927 00:47:36,680 --> 00:47:39,840 destroyed right now. So basically everyone is going 928 00:47:39,840 --> 00:47:43,600 to have unrealized capital gains taxes on everything they own. 929 00:47:44,120 --> 00:47:47,760 You know, I hate using the term slippery slope, but this is this 930 00:47:47,760 --> 00:47:50,760 is one of those things where if you don't understand how the 931 00:47:50,760 --> 00:47:54,440 Fiat system works, it's like it makes no sense when you view it 932 00:47:54,440 --> 00:47:58,040 from a Bitcoin perspective. But Dante, I am going to bring 933 00:47:58,040 --> 00:48:00,600 up Lynn Alden's note here because we did cover it 934 00:48:00,600 --> 00:48:03,960 yesterday, but I think it is fitting that we cover it today. 935 00:48:03,960 --> 00:48:07,800 So yesterday we covered this in regards to Sailor talking about 936 00:48:07,800 --> 00:48:10,280 self custody, which we cleared up during the show. 937 00:48:10,520 --> 00:48:13,400 Of course, this is talking about the six one O 2 order and gold 938 00:48:13,400 --> 00:48:17,400 confiscation. And I think the point here is at 939 00:48:17,400 --> 00:48:21,080 the very end that the government's now can track or 940 00:48:21,080 --> 00:48:24,080 can governments today track Bitcoin in the twenty 20s better 941 00:48:24,080 --> 00:48:28,120 or worse than gold in 1930s for enforcement purposes? 942 00:48:28,440 --> 00:48:31,320 That's the right question. And don't just think of this in 943 00:48:31,320 --> 00:48:35,040 confiscation terms. Think of 70% selective taxes and 944 00:48:35,040 --> 00:48:37,640 things like that. Far more within the current rule 945 00:48:37,640 --> 00:48:39,560 of law that sophisticated approach. 946 00:48:39,560 --> 00:48:42,320 Don't take it selectively, tax it by a lot. 947 00:48:42,640 --> 00:48:45,000 This is probably. Where we're going and these are 948 00:48:45,000 --> 00:48:48,280 the politics that we're seeing even being, you know, talked 949 00:48:48,280 --> 00:48:51,920 about is now, you know, there it has been a lot of talk in 950 00:48:51,920 --> 00:48:54,600 Bitcoin circles. We are all paranoid here and 951 00:48:54,600 --> 00:48:57,880 we're wondering like, OK, when is the 61O2 coming down from the 952 00:48:57,880 --> 00:48:59,560 pipeline? Because we know that they want 953 00:48:59,560 --> 00:49:01,720 to ban Bitcoin, we know they don't like Bitcoin. 954 00:49:02,120 --> 00:49:05,840 But I think kind of what Dante was saying and what Lid Alden is 955 00:49:05,840 --> 00:49:08,800 saying and what we're even seeing from Denmark, from Italy, 956 00:49:08,800 --> 00:49:10,720 we've seen this rolled out from the Harrison Biden 957 00:49:10,720 --> 00:49:15,160 administration that they aren't actively or outright attacking 958 00:49:15,160 --> 00:49:17,720 Bitcoin at this point. They're trying to choke the on 959 00:49:17,720 --> 00:49:19,800 and off ramps. Of course, choke point 2.0. 960 00:49:20,080 --> 00:49:22,680 Now they're kind of just floating these ideas of just, 961 00:49:22,680 --> 00:49:25,480 hey, you know, we don't hate Bitcoin, but you need to pay 962 00:49:25,480 --> 00:49:28,560 your fair share and we're going to tax you on just your Bitcoin 963 00:49:28,560 --> 00:49:31,880 at whatever X rate. And hey, maybe we tax you on 964 00:49:31,880 --> 00:49:36,320 your unrealized gains here and maybe this is how we control 965 00:49:36,320 --> 00:49:39,160 Bitcoin and you're seeing all of this being flowed out. 966 00:49:39,160 --> 00:49:42,520 And obviously as Bitcoiners, you can argue about the 967 00:49:42,520 --> 00:49:45,400 technicalities of how they're even going to do that and how, 968 00:49:45,400 --> 00:49:48,280 you know, do they even have the manpower and the money to go to 969 00:49:48,280 --> 00:49:51,520 door to door and, you know, figure out where all. 970 00:49:51,520 --> 00:49:54,960 These boating accidents were and etcetera, etcetera, etcetera. 971 00:49:55,240 --> 00:49:57,920 But it is interesting that they are talking about this. 972 00:49:57,920 --> 00:50:00,520 So I think very prescient from Lynn Alden being like this is 973 00:50:00,520 --> 00:50:03,560 where the real ball is going and that's where we should keep our 974 00:50:03,560 --> 00:50:04,960 eye on. Not so much that they're just 975 00:50:04,960 --> 00:50:07,680 going to outright, you know, ban Bitcoin, try to confiscate our 976 00:50:07,680 --> 00:50:09,320 Bitcoin. They're probably going to try to 977 00:50:09,320 --> 00:50:12,160 tax us out of existence. And you, you know, we can talk 978 00:50:12,160 --> 00:50:15,480 about that all day long here. But yeah, jump in, Dante. 979 00:50:15,720 --> 00:50:21,040 Well, like like Christian Lagarbage or Lagarde ETB 980 00:50:21,880 --> 00:50:25,880 president, you know, said this thing about well, you know, we 981 00:50:25,880 --> 00:50:28,560 need to, we need to tax Bitcoin holders because you know, the 982 00:50:28,560 --> 00:50:31,280 more that those people that were in at the beginning, you know, 983 00:50:31,280 --> 00:50:33,880 the more revenue that they more, the more gains that they have. 984 00:50:33,880 --> 00:50:35,920 Like we, we we need to tax in their fair share. 985 00:50:36,080 --> 00:50:41,120 If you look at this chart of gold, like be before 1971, 986 00:50:41,200 --> 00:50:44,120 right, we were at like, I don't know, $29.00 an ounce around, 987 00:50:44,120 --> 00:50:46,360 you know, Franklin Delano Roosevelt and then obviously 988 00:50:46,360 --> 00:50:50,240 $35.00 an ounce after 1945. And then we kind of stayed at 989 00:50:50,240 --> 00:50:52,720 that level a little bit more to that level up until Bretton 990 00:50:52,720 --> 00:50:55,480 Woods in 1971. And then the chart just goes 991 00:50:55,480 --> 00:50:59,800 parabolic, like hundred $200.00 an ounce, $300.00 an ounce. 992 00:51:00,120 --> 00:51:02,720 You know, in the 80s, you know, you got the $700.00 an ounce 993 00:51:02,720 --> 00:51:06,840 went to $1400.00 an ounce. Anyways, lo and behold, they 994 00:51:06,840 --> 00:51:11,840 didn't impose a tax on people who got into gold early, right? 995 00:51:11,840 --> 00:51:15,080 There were no special taxes on the people who invested into 996 00:51:15,280 --> 00:51:19,800 Amazon early or Microsoft early. If you look at any asset class, 997 00:51:20,160 --> 00:51:22,800 there are people who disproportionately gain from 998 00:51:22,800 --> 00:51:25,440 getting in earlier. That is one of the fundamental 999 00:51:25,440 --> 00:51:29,520 concepts of capitalism. And for the United States that 1000 00:51:29,520 --> 00:51:33,800 is inconsistent because if they were to do that right, the value 1001 00:51:33,800 --> 00:51:36,360 of their own treasury holdings that they still have valued at 1002 00:51:36,360 --> 00:51:40,920 $35.00 an ounce, They would have to also discount the fact that 1003 00:51:40,920 --> 00:51:44,840 they got in early by confiscating people's gold and 1004 00:51:44,840 --> 00:51:47,320 being the number one holder of gold reserves in the world, 1005 00:51:47,320 --> 00:51:49,560 which we can't confirm because it's opaque market. 1006 00:51:49,720 --> 00:51:51,360 We don't know if Fort Knox is actually real. 1007 00:51:51,360 --> 00:51:54,040 All of this data anyways. That's like a whole different, 1008 00:51:54,120 --> 00:51:55,640 you know, topic. We don't need to go down that 1009 00:51:55,640 --> 00:52:00,400 rabbit hole, but the point is that this is true of every asset 1010 00:52:00,400 --> 00:52:02,680 class. So that's going to be wildly 1011 00:52:02,680 --> 00:52:05,360 inconsistent. I don't see how this sort of 1012 00:52:05,360 --> 00:52:08,200 legislation passes in the United States context. 1013 00:52:08,600 --> 00:52:12,000 I can absolutely see this going in Europe and other places, 1014 00:52:12,240 --> 00:52:15,240 which jurisdictionally is going to drive more value to the 1015 00:52:15,240 --> 00:52:18,200 United States dollar and this is what happens with that dollar. 1016 00:52:18,200 --> 00:52:19,600 Doom Loop. If you've ever heard of the 1017 00:52:19,800 --> 00:52:23,480 dollar milkshake theory from Brent Johnson, what happens is. 1018 00:52:24,000 --> 00:52:28,120 The value of the United States market increases relative to the 1019 00:52:28,160 --> 00:52:32,680 other emerging markets faster, which causes them to pull assets 1020 00:52:32,680 --> 00:52:36,160 out of their own economy to put them into the United States 1021 00:52:36,160 --> 00:52:39,360 economy, which then creates more of a distortion and more of a 1022 00:52:39,360 --> 00:52:43,360 location and more dollars flow. And so that's what happens is 1023 00:52:43,600 --> 00:52:46,200 the dollar continues to strengthen, not because the 1024 00:52:46,200 --> 00:52:49,160 dollar is strong, it strengthens relative to their weaker 1025 00:52:49,160 --> 00:52:52,320 currencies. And so this is a a story that I 1026 00:52:52,320 --> 00:52:55,600 will see play out. If they impose these sorts of 1027 00:52:55,600 --> 00:53:00,040 regulations in the European Union or in other places where 1028 00:53:00,040 --> 00:53:03,080 they're going to selectively tax Bitcoin, this would never fly in 1029 00:53:03,080 --> 00:53:06,440 United States context, like any rational judge or. 1030 00:53:06,680 --> 00:53:08,600 You know, just straight thinking person would say, well then 1031 00:53:08,600 --> 00:53:11,040 we're going to have to go back and tax every early shareholder 1032 00:53:11,040 --> 00:53:13,720 in every other asset class that you have out there, including 1033 00:53:13,720 --> 00:53:17,080 gold as a commodity. So what that's going to cause is 1034 00:53:17,120 --> 00:53:20,040 more flight and more capital to go to the United States markets, 1035 00:53:20,200 --> 00:53:22,400 which is what China is facing right now. 1036 00:53:22,400 --> 00:53:24,400 We're on a little bit of a tangent, but I'm on one. 1037 00:53:24,560 --> 00:53:27,280 So I just want to keep going. What's happening in China right 1038 00:53:27,280 --> 00:53:29,720 now? They're trying to bolster their 1039 00:53:29,720 --> 00:53:31,600 stock market because their economy. 1040 00:53:31,600 --> 00:53:34,880 Is absolutely crumbling. The property values, their real 1041 00:53:34,880 --> 00:53:37,360 estate values continue to go down, right? 1042 00:53:37,360 --> 00:53:41,560 The the consumers in China have low trust in their own economy. 1043 00:53:41,880 --> 00:53:44,040 And what you're seeing is they're flooding the market with 1044 00:53:44,080 --> 00:53:48,640 a bazooka of liquidity in order to prop up foreign investment 1045 00:53:48,640 --> 00:53:51,480 into their stock market. But ultimately, at the end of 1046 00:53:51,480 --> 00:53:53,920 the day, people don't trust the Chinese stock market. 1047 00:53:54,200 --> 00:53:59,400 And so Chinese investors, they. Put all of their money into 1048 00:53:59,400 --> 00:54:02,640 United States markets, they put it into Canadian real estate, 1049 00:54:02,640 --> 00:54:04,960 they put it into United States real estate in the Pacific 1050 00:54:04,960 --> 00:54:07,680 Northwest. They continue to send their kids 1051 00:54:07,680 --> 00:54:10,440 to College in the United States because they want to park their 1052 00:54:10,440 --> 00:54:14,040 assets in the United States. And that drives up the dominance 1053 00:54:14,040 --> 00:54:16,320 of the dollar. And so this is will continue to 1054 00:54:16,320 --> 00:54:20,080 happen if other jurisdictions continue to do things like this. 1055 00:54:20,080 --> 00:54:24,560 If they want to tax Bitcoin selectively by imposing a 70% 1056 00:54:24,560 --> 00:54:27,000 tax, good luck. More money's going to flow into 1057 00:54:27,000 --> 00:54:28,320 the United States. That's going to create a 1058 00:54:28,320 --> 00:54:31,720 stronger dollar and then it's going to create more pressure to 1059 00:54:31,720 --> 00:54:35,320 pay back those US denominated debts, which is the euro market 1060 00:54:35,320 --> 00:54:39,320 altogether. Tangent, but hopefully it's 1061 00:54:39,320 --> 00:54:42,480 valuable for people. Dante spitting today yeah and 1062 00:54:42,480 --> 00:54:45,960 and speaking even of China, they're they did I I think it 1063 00:54:45,960 --> 00:54:50,680 was just maybe floated but the you know the CCP, the Chinese 1064 00:54:50,680 --> 00:54:54,640 government out there is basically now at least talking 1065 00:54:54,640 --> 00:54:59,320 about taxing their citizens on foreign investments. 1066 00:54:59,320 --> 00:55:04,120 And so like is that going to also hurt the US real estate? 1067 00:55:04,120 --> 00:55:07,760 Obviously they are worried about capital flight and they're doing 1068 00:55:07,760 --> 00:55:09,680 and clamping down on capital controls. 1069 00:55:09,920 --> 00:55:12,800 And so this is the growing trend and This is why we talk about 1070 00:55:12,800 --> 00:55:16,360 this on the show all the time as a theme that the powers that be, 1071 00:55:16,360 --> 00:55:18,360 the international bankers, you know, the bankers, the 1072 00:55:18,360 --> 00:55:21,720 politicians, they aren't as stupid as you might think they 1073 00:55:21,720 --> 00:55:23,080 are. They understand the game as 1074 00:55:23,080 --> 00:55:24,280 well. And they understand that they 1075 00:55:24,280 --> 00:55:27,560 have to clamp down on capital because if capital isn't treated 1076 00:55:27,560 --> 00:55:30,800 correctly, it's going to flow to where it's treated well. 1077 00:55:30,800 --> 00:55:33,280 And we're seeing multiple examples of this play out. 1078 00:55:33,560 --> 00:55:36,000 And of course, Bitcoin is the superior money here. 1079 00:55:36,160 --> 00:55:40,320 It's, you know, it's a, it's the best money here and it's very 1080 00:55:40,320 --> 00:55:42,600 easy to just pick up all your wealth in Bitcoin, go where 1081 00:55:42,600 --> 00:55:45,320 you're treated well. And we're going to start to see 1082 00:55:45,320 --> 00:55:49,080 this nomadic Bitcoin meme really start to play out if more 1083 00:55:49,080 --> 00:55:53,600 countries and more governments start to act very unfavorably 1084 00:55:53,600 --> 00:55:55,440 towards Bitcoin. And we're seeing this happen in 1085 00:55:55,440 --> 00:55:59,080 in traditional finances. So it's only going to put, you 1086 00:55:59,080 --> 00:56:02,000 know, gasoline on the fire when they really come after Bitcoin 1087 00:56:02,000 --> 00:56:04,280 and men. We all know that it's coming 1088 00:56:04,280 --> 00:56:07,520 down the timeline and, and we see this happening in real time 1089 00:56:07,520 --> 00:56:09,320 here. It's a, it's like the train 1090 00:56:09,320 --> 00:56:12,440 wreck in slow motion here on simply Bitcoin because we 1091 00:56:12,440 --> 00:56:14,880 constantly cover it and people are like, what? 1092 00:56:15,280 --> 00:56:17,240 That's not gonna happen. It's never gonna happen. 1093 00:56:17,240 --> 00:56:19,760 And now it's like 2-3 months down the line, we're like, no, 1094 00:56:19,760 --> 00:56:22,560 see here, here's another example of capital control. 1095 00:56:22,640 --> 00:56:24,800 Whether they're trying to tax it, whether they're trying to 1096 00:56:24,800 --> 00:56:27,680 ban it, it, we know what the game is. 1097 00:56:27,680 --> 00:56:31,240 Once you understand how Bitcoin works and you look at the world 1098 00:56:31,240 --> 00:56:34,640 through a Bitcoin lens, you understand where the next move 1099 00:56:34,640 --> 00:56:36,240 on the chess board's going to come from. 1100 00:56:36,480 --> 00:56:39,320 And we all know it's going to be capital controls. 1101 00:56:39,360 --> 00:56:41,840 They're obviously trying to do that with Operation Choke .2 1102 00:56:41,840 --> 00:56:43,680 Point O. They're doing it in traditional 1103 00:56:43,680 --> 00:56:45,360 financial worlds. They're floating out all these 1104 00:56:45,360 --> 00:56:47,960 tax propositions. It's like it's coming soon 1105 00:56:47,960 --> 00:56:51,440 enough unless Bitcoin just blows through and we, you know, we get 1106 00:56:51,600 --> 00:56:54,560 this watershed moment where everyone becomes a Bitcoiner. 1107 00:56:54,800 --> 00:56:57,920 But that that's probably the most helping we had on the show 1108 00:56:57,920 --> 00:56:59,960 today. Yeah, No, I don't. 1109 00:57:00,000 --> 00:57:01,400 I don't. I don't see that happening. 1110 00:57:01,400 --> 00:57:05,920 But I mean, for those of us that do get in, I mean, you can 1111 00:57:05,920 --> 00:57:08,880 either, you can either deny it or or you can get with it. 1112 00:57:08,880 --> 00:57:10,720 I always keep this book with me, man. 1113 00:57:10,720 --> 00:57:13,440 I I like, I talk about this book more than I probably should. 1114 00:57:13,840 --> 00:57:18,560 This is the everything store with Jeff Bezos by Brad Stone. 1115 00:57:18,720 --> 00:57:21,080 Literally at the beginning of this book, he worked at a 1116 00:57:21,080 --> 00:57:23,680 company called DE Shaw, which basically created one of the 1117 00:57:23,680 --> 00:57:27,000 first, you know, like Gmail equivalents and you know, ad 1118 00:57:27,000 --> 00:57:28,840 based browsers and all these sorts of things. 1119 00:57:28,960 --> 00:57:30,960 He was the best employee at DE Shaw. 1120 00:57:31,240 --> 00:57:33,440 And he goes to his boss one day. You know, they're one of the 1121 00:57:33,440 --> 00:57:35,480 biggest and highest performing hedge funds out there. 1122 00:57:35,720 --> 00:57:38,120 He goes to his boss one day. He goes, yo, I'm about to leave 1123 00:57:38,160 --> 00:57:42,800 to to sell some books. And boss is like, what are you 1124 00:57:42,800 --> 00:57:45,160 talking about? What the hell do you mean you're 1125 00:57:45,160 --> 00:57:47,120 going to sell books? He's like, yeah, there's this 1126 00:57:47,160 --> 00:57:51,520 thing called the Internet and it's growing the last three 1127 00:57:51,520 --> 00:57:55,600 years, a compounded annual growth rate of about 1500% a 1128 00:57:55,600 --> 00:57:57,640 year. And I think it's going to be a 1129 00:57:57,640 --> 00:58:00,280 thing. And so, yeah, I'm just going to 1130 00:58:00,280 --> 00:58:02,360 start out selling books. We'll see what what happens from 1131 00:58:02,360 --> 00:58:04,080 there. Literally two months later, 1132 00:58:04,080 --> 00:58:07,600 dipped out, went to Amazon famously, you know, turn that 1133 00:58:07,600 --> 00:58:11,000 door into his desk and, you know, start it from there. 1134 00:58:11,240 --> 00:58:15,600 The whole point of that is he saw a world based upon the 1135 00:58:15,600 --> 00:58:18,600 compounded annual growth rate of the Internet, that this thing is 1136 00:58:18,600 --> 00:58:21,160 going to be sustainable. And so I'm going to start at the 1137 00:58:21,160 --> 00:58:24,440 very bottom, building a system that looks completely different 1138 00:58:24,440 --> 00:58:27,400 than every other commerce and every other store out there. 1139 00:58:27,840 --> 00:58:32,640 And lo and behold, we get more Amazon packages at our door than 1140 00:58:32,680 --> 00:58:36,120 anything else these days. And this is in a span of 20 to 1141 00:58:36,120 --> 00:58:39,800 25 years relative to when they went public in 1997. 1142 00:58:40,200 --> 00:58:42,800 So you have to understand the compounded annual growth rate 1143 00:58:42,800 --> 00:58:44,920 from when they went public is like 32% a year. 1144 00:58:45,320 --> 00:58:49,520 You have to understand when these trends happen, there's no 1145 00:58:49,520 --> 00:58:51,800 stopping them. There's a great chart this week 1146 00:58:51,800 --> 00:58:55,160 going out there about Netflix and how their subscriber chart 1147 00:58:55,160 --> 00:58:58,360 and growth is like taking off because Netflix was the first, 1148 00:58:58,800 --> 00:59:01,080 the first people in this whole streaming wars to have this 1149 00:59:01,080 --> 00:59:02,960 Moat. And when you get these first 1150 00:59:02,960 --> 00:59:07,800 advantage movers in this digital age, these digital monopolies 1151 00:59:07,800 --> 00:59:11,280 and digital networks are so devastating when you get that 1152 00:59:11,280 --> 00:59:13,520 first mover advantage and you get that first. 1153 00:59:13,680 --> 00:59:18,040 And Bitcoin has that Moat in the crypto world versus ETF and the 1154 00:59:18,040 --> 00:59:21,360 ETF world versus other financial products and the self 1155 00:59:21,360 --> 00:59:24,600 sovereignty market versus other things like gold, like what 1156 00:59:24,600 --> 00:59:26,600 you're starting to see in this digital world. 1157 00:59:26,600 --> 00:59:29,680 This is the digital hard asset of the next Millennium. 1158 00:59:30,120 --> 00:59:34,280 And so when you think about that, the, the, the trend is 1159 00:59:34,280 --> 00:59:37,400 obvious. Don't, don't fight the trade, 1160 00:59:37,640 --> 00:59:39,560 don't make it too hard. You can't see it. 1161 00:59:39,720 --> 00:59:42,720 But if you squint out far enough, you'll see that this is 1162 00:59:42,720 --> 00:59:46,040 following the same the same curves, the same loss, the same 1163 00:59:46,040 --> 00:59:47,360 things that we've seen in the past. 1164 00:59:48,400 --> 00:59:51,680 Totally, man, absolutely killing it today, Dante, Everyone, we 1165 00:59:51,680 --> 00:59:53,600 got one last segment. We're going to be talking about 1166 00:59:53,600 --> 00:59:55,160 all the stuff that Dante is working on. 1167 00:59:55,160 --> 00:59:58,800 But of course, there's over 1700 of you guys watching live. 1168 00:59:58,960 --> 01:00:00,680 Let's get the likes up on YouTube. 1169 01:00:00,680 --> 01:00:02,600 It helps us get pushed in the algos. 1170 01:00:02,600 --> 01:00:05,640 Hashtag for the algos. Let's make sure more people are 1171 01:00:05,640 --> 01:00:08,960 hearing this message. This is how we win is waking up 1172 01:00:09,200 --> 01:00:12,360 everyone out there to the real problems in the world. 1173 01:00:12,360 --> 01:00:14,400 But before we do that, let's get into the culture. 1174 01:00:14,400 --> 01:00:17,240 I think if you like Dante's spitting on today's show, he's 1175 01:00:17,520 --> 01:00:19,320 going to drop some more. Sauce for you guys. 1176 01:00:31,910 --> 01:00:34,270 All right, guys, of course, of course, of course we pay the 1177 01:00:34,270 --> 01:00:35,630 bills here. Make sure you go to 1178 01:00:35,630 --> 01:00:39,550 orangecoapp.com. If you are hearing what we're 1179 01:00:39,550 --> 01:00:44,190 saying today. The silver lining here is that 1180 01:00:44,190 --> 01:00:45,910 one day big corners will have all the wealth. 1181 01:00:45,990 --> 01:00:48,630 And so you want to stack some friends who stack sad. 1182 01:00:48,630 --> 01:00:52,150 So you need to ensure that you take these relationships from 1183 01:00:52,150 --> 01:00:55,920 the Internet and you bring them into meat space because hey, I 1184 01:00:55,920 --> 01:00:58,240 don't know if you guys noticed what happened the last four 1185 01:00:58,240 --> 01:01:01,680 years, but things have gone pretty crazy, like really crazy 1186 01:01:01,680 --> 01:01:04,120 the last four years. And it would have been better if 1187 01:01:04,120 --> 01:01:07,880 we had a small community of like minded individuals, or rather a 1188 01:01:07,880 --> 01:01:11,600 huge community of like minded individuals so that you can rely 1189 01:01:11,600 --> 01:01:15,960 on people that you know in meat space to fight back against the 1190 01:01:15,960 --> 01:01:18,320 great leviathan that we find ourselves in. 1191 01:01:18,480 --> 01:01:21,120 What a crazy world. Anyways, go to orangecoapp.com 1192 01:01:21,120 --> 01:01:23,760 stack friends who stacks that? This is the way. 1193 01:01:24,000 --> 01:01:27,000 All right, well, first and forest foremost, I'm just going 1194 01:01:27,000 --> 01:01:29,800 to show the YouTube a little bit here Dante, because if you like 1195 01:01:29,800 --> 01:01:34,120 what Dante is doing, if you aren't aware, Dante is one of 1196 01:01:34,120 --> 01:01:37,680 our newest content creators doing the Bitcoin Simply Show. 1197 01:01:38,000 --> 01:01:39,680 So Dante, you've been killing it. 1198 01:01:39,880 --> 01:01:42,720 Let's just give the people a little TLDR. You know, what do 1199 01:01:42,720 --> 01:01:44,160 you cover? What do you want to do? 1200 01:01:44,160 --> 01:01:46,880 What's the mission with the Bitcoin Simply Show? 1201 01:01:48,760 --> 01:01:51,800 Man, it's in the name. Like I, we don't want to 1202 01:01:51,800 --> 01:01:53,720 overcomplicate it. I want to make Bitcoin simple 1203 01:01:53,720 --> 01:01:55,600 for people. I mean, honestly, I want to make 1204 01:01:55,600 --> 01:01:57,200 it fun. I want to make it entertaining. 1205 01:01:57,520 --> 01:01:59,720 I want to make it relevant. So I'm always trying to mix in a 1206 01:01:59,720 --> 01:02:02,520 sports reference, a funny joke, a funny clip here that allows 1207 01:02:02,560 --> 01:02:04,880 everybody to kind of get on the same page with what we're 1208 01:02:04,880 --> 01:02:07,680 talking about. And so that's my whole goal with 1209 01:02:07,680 --> 01:02:09,240 the show in creating content again. 1210 01:02:09,520 --> 01:02:12,600 And in with that, you know, one of the biggest observations I 1211 01:02:12,600 --> 01:02:15,520 had when I was doing the Bitcoin Daily Show at Swan, I put out 1212 01:02:15,520 --> 01:02:17,800 this thing where I said, Hey, send me an e-mail with your 1213 01:02:17,800 --> 01:02:20,880 questions at daily@swanbitcoin.com and 1214 01:02:21,120 --> 01:02:23,920 literally surprised me. Like I would get like 30 to 40 1215 01:02:23,920 --> 01:02:27,000 emails a day if people asking these questions of how do I 1216 01:02:27,000 --> 01:02:29,160 navigate this? What is what is will quantum 1217 01:02:29,160 --> 01:02:31,800 computing destroy Bitcoin? What is a multi sig versus a 1218 01:02:31,800 --> 01:02:33,440 single sig? How do I know that the 1219 01:02:33,440 --> 01:02:34,600 government's not going to ban it? 1220 01:02:34,600 --> 01:02:38,240 And what you understand is that there's so many people like 1221 01:02:38,520 --> 01:02:42,320 Twitter is probably not the best medium to get like Lynn Alden or 1222 01:02:42,320 --> 01:02:45,360 or one of these, you know, experts to reply back to your 1223 01:02:45,360 --> 01:02:47,160 tweet with the serious question that you have. 1224 01:02:47,600 --> 01:02:50,240 LinkedIn is clearly not the other right community where it's 1225 01:02:50,240 --> 01:02:53,360 like literally like the algos ban anything and everything 1226 01:02:53,360 --> 01:02:55,160 about Bitcoin. But then it's like your 1227 01:02:55,160 --> 01:02:57,040 professional context. It's kind of weird. 1228 01:02:57,040 --> 01:02:59,600 Like none of your other peers are like really like engaging 1229 01:02:59,600 --> 01:03:02,120 with Bitcoin there. So I just thought like, hey, 1230 01:03:02,120 --> 01:03:04,800 what if there was this third space where people can literally 1231 01:03:05,120 --> 01:03:09,200 learn, engage in community with others about Bitcoin and like 1232 01:03:09,200 --> 01:03:12,240 get real questions answered? How do they navigate this new 1233 01:03:12,240 --> 01:03:13,760 frontier? And that's why I came up with 1234 01:03:13,760 --> 01:03:16,560 this idea of like Columbus. Like that's what I'm doing with 1235 01:03:16,680 --> 01:03:20,400 joincolumbus.com. And as we've been in beta for 1236 01:03:20,400 --> 01:03:24,000 like the last two months, we've got, you know, hundreds of 1237 01:03:24,000 --> 01:03:26,680 members now. And it's pretty cool to see 1238 01:03:27,320 --> 01:03:29,520 people really want community. They really want answers. 1239 01:03:29,520 --> 01:03:32,000 They want to go in depth. They want it to be easy and 1240 01:03:32,000 --> 01:03:34,120 understandable. And so that's what I want to do 1241 01:03:34,120 --> 01:03:36,480 with my show. That's the kind of content I'm 1242 01:03:36,480 --> 01:03:39,120 trying to create. I'm literally like in the 1243 01:03:39,120 --> 01:03:42,320 process, like somebody tell me not to do this, but like writing 1244 01:03:42,320 --> 01:03:45,240 a book to help make Bitcoin simple for people. 1245 01:03:45,960 --> 01:03:49,000 But it's literally all in the vein of helping people to try to 1246 01:03:49,000 --> 01:03:53,080 understand this new revolutionary technology that I 1247 01:03:53,080 --> 01:03:56,920 believe will change the world. It's just hard to see that it's 1248 01:03:56,920 --> 01:03:59,560 not going to do what everyone said that it will. 1249 01:04:00,800 --> 01:04:02,440 And I want to make that accessible to everybody. 1250 01:04:02,440 --> 01:04:06,240 Like those adoption curves, like the early adopters, that first 1251 01:04:06,240 --> 01:04:09,480 1% and you know we're in that kind of second phase of this S 1252 01:04:09,480 --> 01:04:10,880 curve. You're going to get like 1253 01:04:10,880 --> 01:04:13,600 everybody else jumping in here. I think it's my phone. 1254 01:04:13,600 --> 01:04:17,800 You're going to get everybody else coming in here that's, you 1255 01:04:17,800 --> 01:04:20,400 know, your grandfather, your uncle, your cousin and them, 1256 01:04:20,560 --> 01:04:21,920 they want to learn about Bitcoin. 1257 01:04:21,920 --> 01:04:24,840 But when you start talking about Merkel trees, you start talking 1258 01:04:24,840 --> 01:04:28,720 about lightning nodes, you start talking about datum and ocean 1259 01:04:28,720 --> 01:04:31,000 and all these protocols using all this language like, whoa, 1260 01:04:31,240 --> 01:04:34,040 that makes no sense to me. Well, you've got to break it 1261 01:04:34,040 --> 01:04:36,680 down in a way that helps them understand because everybody's 1262 01:04:36,680 --> 01:04:41,760 on a journey, crawl, walk, run. We're moving from, Hey, maybe I 1263 01:04:41,760 --> 01:04:45,720 might consider some in my in, in an ETF in a retirement 1264 01:04:45,720 --> 01:04:48,080 portfolio. Hey, let me, let me, let me 1265 01:04:48,080 --> 01:04:50,560 think about how do I buy some on one of these exchanges? 1266 01:04:50,560 --> 01:04:53,280 And the first ad that they see is Coinbase Terrible, I know. 1267 01:04:53,600 --> 01:04:55,680 But then one of your buddies convinces them to listen to a 1268 01:04:55,680 --> 01:04:57,280 podcast. They don't get off of they they 1269 01:04:57,360 --> 01:05:00,400 they move from Coinbase to a Bitcoin only exchange like the 1270 01:05:00,400 --> 01:05:03,760 Bitcoin well like river, like swan, one of these these Bitcoin 1271 01:05:03,760 --> 01:05:06,920 only companies that has their best interest in mind and then 1272 01:05:06,920 --> 01:05:10,160 they move from leaving it on an exchange to withdrawing it to an 1273 01:05:10,160 --> 01:05:12,280 online wallet. Maybe that's a blue wallet, 1274 01:05:12,280 --> 01:05:15,320 maybe that's phoenix wallet. Maybe that's one of these other 1275 01:05:15,320 --> 01:05:17,760 kinds of wallets where they kind of get interested in this sort 1276 01:05:17,760 --> 01:05:20,200 of thing and they send their first transaction and then they 1277 01:05:20,200 --> 01:05:23,480 realize that the transaction that they sent was too small and 1278 01:05:23,480 --> 01:05:27,920 it's going to create a small UTXO where the price of the fee 1279 01:05:27,920 --> 01:05:30,800 in the future is going to cost more than the stats that it's 1280 01:05:30,800 --> 01:05:34,120 worth in the UTXO. And so then and they go, oh man, 1281 01:05:34,120 --> 01:05:36,680 maybe I could just buy this Bitcoin, but withdraw it in 1282 01:05:36,680 --> 01:05:39,760 larger UTXO set so that I it's going to be valuable in the 1283 01:05:39,760 --> 01:05:42,360 future. And then they move from oh crap, 1284 01:05:42,560 --> 01:05:44,680 how do I do that? Well, I've got to download 1285 01:05:44,680 --> 01:05:48,000 Sparrow wallet or I've got to run my own start 9 lab node or 1286 01:05:48,000 --> 01:05:51,160 I've got to, you know, download one of these softwares to help 1287 01:05:51,160 --> 01:05:55,000 me or desktop software to help me understand these transactions 1288 01:05:55,000 --> 01:05:57,560 and to do these sorts of things. And then they go from single 1289 01:05:57,560 --> 01:06:02,480 transactions to multi sig right. Oh, well, I had to assign twice, 1290 01:06:02,480 --> 01:06:04,920 like multiple signatures in order to release these funds. 1291 01:06:05,320 --> 01:06:07,840 And then you go completely off the grid, right? 1292 01:06:08,040 --> 01:06:10,680 Everybody's on this continuum and on this journey. 1293 01:06:10,840 --> 01:06:13,200 Like, I'm really focused. Like, I love all the people on 1294 01:06:13,200 --> 01:06:15,360 the side, like all the hardcore folks. 1295 01:06:15,800 --> 01:06:19,960 I'm just not that hardcore. Like I'm watching Thursday Night 1296 01:06:19,960 --> 01:06:21,880 Football. I'm trying to see what, like, 1297 01:06:22,360 --> 01:06:24,760 you know, Matt Stafford, you know, does to the Vikings 1298 01:06:24,760 --> 01:06:26,800 tonight. Like former NFC North guy. 1299 01:06:26,800 --> 01:06:28,640 He's got to hate those guys. Weird. 1300 01:06:28,640 --> 01:06:31,480 They might trade them to the Vikings, sort of a weird turn of 1301 01:06:31,480 --> 01:06:33,280 events if he was in a Vikings jersey. 1302 01:06:33,600 --> 01:06:36,600 But like, I'm watching the game just like everybody else like 1303 01:06:36,920 --> 01:06:39,080 and people are looking at these different lines on FanDuel. 1304 01:06:39,080 --> 01:06:41,800 I don't bet I just buy Bitcoin. But it's interesting for me to 1305 01:06:41,800 --> 01:06:43,960 look at that stuff. And then so if I make a funny 1306 01:06:43,960 --> 01:06:48,000 joke related to the game that allows them to get into Bitcoin, 1307 01:06:48,320 --> 01:06:51,160 that's a win for me. So that's what I do three days a 1308 01:06:51,160 --> 01:06:54,200 week, hopefully more moving towards four days a week on 1309 01:06:54,200 --> 01:06:57,480 Bitcoin, simply on the Simply Bitcoin channel, and then 1310 01:06:57,480 --> 01:06:59,800 through Columbus throughout the week by trying to help people go 1311 01:06:59,800 --> 01:07:01,840 deeper in their journey. And then hopefully through a 1312 01:07:01,840 --> 01:07:03,840 book and other content that should be coming out soon. 1313 01:07:03,840 --> 01:07:06,720 But that's what I'm up to, man. Love it, Dante. 1314 01:07:06,720 --> 01:07:10,320 I mean, I, I do agree with one thing you said, you know, I 1315 01:07:10,320 --> 01:07:12,600 don't really watch much sports ball anymore. 1316 01:07:12,600 --> 01:07:15,120 I have been catching some college football games on the 1317 01:07:15,120 --> 01:07:18,800 weekend. But one thing that I find very 1318 01:07:18,800 --> 01:07:20,920 interesting and, and, and you kind of just touched on that is 1319 01:07:20,920 --> 01:07:24,120 like, yes, once you kind of get obsessed with Bitcoin, it's like 1320 01:07:24,120 --> 01:07:27,200 all you think about, But after you kind of get through that 1321 01:07:27,200 --> 01:07:31,000 initial like technical hurdle and you know, you understand 1322 01:07:31,000 --> 01:07:34,360 enough, you go back to, I just want to live a good life, man. 1323 01:07:34,440 --> 01:07:37,080 And, and Bitcoin is going to help me live that good life. 1324 01:07:37,080 --> 01:07:39,680 And hey, you know, I know a lot of Bitcoiners hate on people 1325 01:07:39,680 --> 01:07:42,280 that like football or watch sports and all that stuff, but 1326 01:07:42,280 --> 01:07:44,720 it's like there's other things outside of Bitcoin. 1327 01:07:44,720 --> 01:07:48,760 And this is how we get people into Bitcoin as not just a money 1328 01:07:48,760 --> 01:07:50,880 revolution, but like a cultural revolution. 1329 01:07:50,880 --> 01:07:54,000 Understand like, yo, there's a lot more to life than just 1330 01:07:54,000 --> 01:07:55,800 Bitcoin. But once you get on the Bitcoin 1331 01:07:55,800 --> 01:07:58,720 standard, once you fix the money, you will fix the world. 1332 01:07:58,720 --> 01:08:01,760 And so kudos to you and the journey over that, Columbus. 1333 01:08:01,760 --> 01:08:04,600 But I see you do want to jump in before we'll plug Columbus and 1334 01:08:04,600 --> 01:08:08,120 wrap up today's show. I mean, the the last thing that 1335 01:08:08,120 --> 01:08:11,000 yeah, I mean, my whole journey with getting people into Bitcoin 1336 01:08:11,000 --> 01:08:14,960 is so that we can we can we can get the things that we truly 1337 01:08:14,960 --> 01:08:17,680 want in life. Like so the thing that I I 1338 01:08:17,680 --> 01:08:20,920 always want to say is like nobody that's watching my you 1339 01:08:20,920 --> 01:08:24,359 know, Bitcoin simply shows are going to be a like my funeral, 1340 01:08:24,760 --> 01:08:27,920 like Bitcoin is an Ave. for me to connect with the people that 1341 01:08:27,920 --> 01:08:29,680 I love to spend the most time with. 1342 01:08:29,680 --> 01:08:31,800 I have 4 kids. I live in community. 1343 01:08:31,920 --> 01:08:34,200 If you walk around on the east side of Indianapolis, like 1344 01:08:34,200 --> 01:08:36,319 people know who I am. People know who I am in this 1345 01:08:36,319 --> 01:08:38,399 city. And so it's like I want to be 1346 01:08:38,399 --> 01:08:41,080 famous, like in my own city, in my own little pocket in my own 1347 01:08:41,080 --> 01:08:42,880 city, right? Like I want to be known by the 1348 01:08:42,880 --> 01:08:46,240 people that that know me best. And so that's kind of my end 1349 01:08:46,240 --> 01:08:48,240 goal. And so Bitcoin is an Ave. for me 1350 01:08:48,240 --> 01:08:51,200 to express that through financial financially through 1351 01:08:51,279 --> 01:08:54,080 through becoming financially sovereign and financially free. 1352 01:08:54,399 --> 01:08:57,160 And so my like, my whole thing with Bitcoin is like Bitcoin is 1353 01:08:57,160 --> 01:08:59,680 not the end, all right? It's not it's not the 1354 01:08:59,680 --> 01:09:01,560 destination. It's the journey towards the 1355 01:09:01,560 --> 01:09:03,120 place where you ultimately want to go. 1356 01:09:03,319 --> 01:09:06,880 So use it as a tool, use it as a resource to help you achieve the 1357 01:09:06,880 --> 01:09:08,600 goals and the things that you want in life. 1358 01:09:08,600 --> 01:09:11,760 And so that's my end goal. Like I'm out in the real world. 1359 01:09:11,760 --> 01:09:14,760 Like I'm out at like games, I'm coaching, I'm on sidelines, I'm 1360 01:09:14,760 --> 01:09:16,760 doing different stuff. Like we got to get off the 1361 01:09:16,760 --> 01:09:19,880 computers, we got to get off the screen, we got to get away from, 1362 01:09:19,880 --> 01:09:22,279 you know, the algos and all the things that people want to suck 1363 01:09:22,279 --> 01:09:25,240 us into so that we can start to get out into the real world. 1364 01:09:25,240 --> 01:09:28,000 So if you start to think in these epochs, these 4 four year 1365 01:09:28,000 --> 01:09:29,880 cycles, right like? You. 1366 01:09:29,880 --> 01:09:33,160 You really begin to desensitize yourself, to desensitize 1367 01:09:33,160 --> 01:09:37,319 yourself to the sways in the pools of all of this media, all 1368 01:09:37,319 --> 01:09:39,760 of these hype cycles, all of these election cycles. 1369 01:09:39,960 --> 01:09:41,279 And you start to think longer term. 1370 01:09:41,960 --> 01:09:44,880 And that's what Bitcoin ultimately allows you to do, is 1371 01:09:44,880 --> 01:09:47,840 you get into Bitcoin real deep and that allows you to exit into 1372 01:09:47,840 --> 01:09:54,000 the things that you care about more deeply. 10 agree more, 10 1373 01:09:54,000 --> 01:09:56,040 agree more. All right, let's let's play 1374 01:09:56,040 --> 01:09:58,120 Columbus one more. But there was a good question 1375 01:09:58,120 --> 01:10:00,760 here. And, and I'm also wondering 1376 01:10:00,760 --> 01:10:03,920 this, I know you, I know Chris is a part of this. 1377 01:10:03,920 --> 01:10:06,160 You have a couple big corners that I know that are part of 1378 01:10:06,160 --> 01:10:08,800 Columbus. But someone asks, can I join 1379 01:10:08,800 --> 01:10:10,800 Columbus to teach? People about nodes. 1380 01:10:11,040 --> 01:10:12,640 Like how does this community work? 1381 01:10:12,640 --> 01:10:14,880 And then let's plug how people can join Columbus. 1382 01:10:15,360 --> 01:10:19,320 Yeah, so Columbus, it's going to it's like a literal a digital 1383 01:10:19,320 --> 01:10:22,160 online community. And so I've been like behind the 1384 01:10:22,160 --> 01:10:24,880 scenes trying to build all this sort stuff out, but there's 1385 01:10:24,880 --> 01:10:27,800 literally going to be like forms and places where you can talk 1386 01:10:27,800 --> 01:10:31,640 about and ask questions about multi sig about lending options 1387 01:10:31,640 --> 01:10:33,440 on my Bitcoin. What's the difference between, 1388 01:10:33,440 --> 01:10:37,080 you know, debify or atomic finance or which again, all 1389 01:10:37,080 --> 01:10:39,800 these things that I don't like recommend to people or or these 1390 01:10:39,800 --> 01:10:42,040 sorts of things, but people have questions about them and they 1391 01:10:42,040 --> 01:10:43,920 want real answers. They want real deep dive. 1392 01:10:43,920 --> 01:10:45,960 So this is going to be a community, community where you 1393 01:10:45,960 --> 01:10:48,720 can ask those questions that are hard to ask in public. 1394 01:10:49,040 --> 01:10:52,160 So it's kind of a form sort of like Slack or Telegram or these 1395 01:10:52,160 --> 01:10:54,560 other things where you have these different channels that we 1396 01:10:54,560 --> 01:10:56,280 talk about these different topics. 1397 01:10:56,640 --> 01:10:58,840 Then we bring in different speakers. 1398 01:10:58,840 --> 01:11:01,440 So the last two speakers that I've had are Larry Lapard, I've 1399 01:11:01,440 --> 01:11:04,400 had Gio Santo Stasi, all right, to talk about the Bitcoin power 1400 01:11:04,400 --> 01:11:05,960 law. We're bringing in a multi cig 1401 01:11:05,960 --> 01:11:07,240 expert. We're actually going to go 1402 01:11:07,240 --> 01:11:09,320 through live. What is multi cig? 1403 01:11:09,520 --> 01:11:11,600 How do you invite different people into contracts? 1404 01:11:11,600 --> 01:11:14,520 How do you sign these transactions through your 1405 01:11:14,520 --> 01:11:17,600 signing device, not your hardware wallet, Bad term, but 1406 01:11:17,600 --> 01:11:20,280 teaching people all of these different differences with that. 1407 01:11:20,280 --> 01:11:22,280 And so there's a couple of different tiers. 1408 01:11:22,520 --> 01:11:24,920 There's the adventurer tier, which is anyone can join, they 1409 01:11:24,920 --> 01:11:26,200 can come and they can learn for free. 1410 01:11:26,200 --> 01:11:28,360 And we're going to have courses, we're going to have all of these 1411 01:11:28,360 --> 01:11:31,200 things in there. Then there's the explorer tier. 1412 01:11:31,200 --> 01:11:33,280 So these are people that are going to go a little bit deeper 1413 01:11:33,280 --> 01:11:35,320 in their journey. We get to have one-on-one calls, 1414 01:11:35,320 --> 01:11:38,120 like it's like 10 bucks a month. Like people get to actually 1415 01:11:38,120 --> 01:11:42,120 engage with like me and other Bitcoin experts like Elaine Mao, 1416 01:11:42,120 --> 01:11:45,640 someone you've seen on the show, other people that are working 1417 01:11:45,640 --> 01:11:48,760 behind the scenes that are going to answer your actual questions 1418 01:11:49,240 --> 01:11:51,640 and not just be out there in the in the Internet. 1419 01:11:51,880 --> 01:11:53,320 And then you have the adventure tier. 1420 01:11:53,600 --> 01:11:56,200 This is a place for like high net worth individuals and other 1421 01:11:56,200 --> 01:11:58,800 people to connect and like round tables with other people that 1422 01:11:58,800 --> 01:12:00,480 share their problems. These are people that own 1423 01:12:00,480 --> 01:12:02,400 businesses. These are people that have 1424 01:12:02,560 --> 01:12:04,320 significant networks. They have trust. 1425 01:12:04,320 --> 01:12:08,400 They don't know which lawyers to use, which trust advisors to 1426 01:12:08,400 --> 01:12:12,440 use, which accountants to use, like their existing network is 1427 01:12:12,440 --> 01:12:15,160 counter position to their desires, which is to go deeper 1428 01:12:15,160 --> 01:12:17,320 into Bitcoin. And so it's a small community 1429 01:12:17,320 --> 01:12:19,120 for this group of people to do this as well. 1430 01:12:19,520 --> 01:12:21,440 But like, that's the practical of it. 1431 01:12:21,640 --> 01:12:23,480 Like we're coming up on like 2 1/2 months. 1432 01:12:23,480 --> 01:12:25,480 We're really about to come out with all of these different 1433 01:12:25,480 --> 01:12:28,520 products and things. But like, it's a digital online 1434 01:12:28,520 --> 01:12:30,520 community to navigate your Bitcoin journey. 1435 01:12:31,520 --> 01:12:33,480 Love it bro. Killing it, killing it. 1436 01:12:33,480 --> 01:12:35,240 Oops, wrong comment, wrong comment. 1437 01:12:37,480 --> 01:12:39,880 Everyone's yelling at me because I'm not hanging out in the chat. 1438 01:12:39,880 --> 01:12:42,400 Hey guys, I'm I'm producing the show in real time as well. 1439 01:12:42,640 --> 01:12:47,480 But Dante, you killed it today. I do want to give you actually 1440 01:12:47,480 --> 01:12:51,640 two questions. First off, tell the people, tell 1441 01:12:51,640 --> 01:12:56,680 the people when you drop the Bitcoin simply show so they know 1442 01:12:56,680 --> 01:13:00,360 when to check out for you on the Simply Bitcoin channel. 1443 01:13:00,560 --> 01:13:02,680 And then I want I want to do one last question. 1444 01:13:02,680 --> 01:13:05,720 So do that quick plug, when do people find you on the Bitcoin 1445 01:13:05,880 --> 01:13:09,440 or Simply Bitcoin channel? The the only Simply Bitcoin 1446 01:13:09,440 --> 01:13:12,400 channel, the show that I produce is called Bitcoin Simply and 1447 01:13:12,400 --> 01:13:15,440 that comes out on Tuesdays, Fridays and Saturdays. 1448 01:13:15,680 --> 01:13:18,200 So I definitely want to plug that the shows typically come 1449 01:13:18,200 --> 01:13:22,840 out between 3:30 and 5:00 every single day or, or on those 1450 01:13:22,840 --> 01:13:25,360 certain days. Rustin is on the other days of 1451 01:13:25,360 --> 01:13:27,840 the show and we're thinking about even producing a Sunday 1452 01:13:27,840 --> 01:13:30,240 show. So we're coming out on Tuesdays, 1453 01:13:30,320 --> 01:13:33,840 Fridays and Saturdays on Bitcoin Simply. 1454 01:13:34,600 --> 01:13:36,640 Love it bro. OK, last question. 1455 01:13:36,840 --> 01:13:40,400 I know you're technically in the Co host seat today, but since 1456 01:13:40,400 --> 01:13:43,880 they're also kind of being the guest for today, I always leave 1457 01:13:43,960 --> 01:13:47,160 with the same question. What is the last message you 1458 01:13:47,160 --> 01:13:49,520 want to leave with the audience? It could be about life, it could 1459 01:13:49,520 --> 01:13:52,560 be about Bitcoin, it could be one last plug for Columbus. 1460 01:13:52,800 --> 01:13:55,640 Whatever it is, What's the last two sets you want to leave with 1461 01:13:55,640 --> 01:13:58,280 the audience today? Wow, I'm going to be back. 1462 01:13:58,280 --> 01:14:00,800 So I don't need to hit y'all with anything that's like morbid 1463 01:14:00,800 --> 01:14:03,040 or like, you know, go kiss your loved ones and that sort of 1464 01:14:03,040 --> 01:14:04,960 stuff. Like I'm going to leave with 1465 01:14:04,960 --> 01:14:07,600 this whole comment from like bricks and Putin and everything 1466 01:14:07,600 --> 01:14:11,320 that happened today. Like he said today that the 1467 01:14:11,320 --> 01:14:15,080 dollar is the most important financial asset in the world. 1468 01:14:15,320 --> 01:14:19,960 The majority of financial trade is facilitated through the 1469 01:14:19,960 --> 01:14:22,440 dollar. So he said, he didn't say that 1470 01:14:22,440 --> 01:14:24,280 the dollar is going to be worth less. 1471 01:14:24,840 --> 01:14:30,120 It's going to be worth less overtime when compared to harder 1472 01:14:30,120 --> 01:14:32,760 assets. So it isn't going to 0 1473 01:14:32,760 --> 01:14:37,120 nominally, it's going to 0 in the real terms when compared to 1474 01:14:37,240 --> 01:14:40,160 harder assets. The dollar will go to zero 1475 01:14:40,160 --> 01:14:42,680 against things like what Paul Tudor Jones and Stanley 1476 01:14:42,680 --> 01:14:45,960 Druckenmiller and even Larry Fink said, hey, I'm long hard 1477 01:14:45,960 --> 01:14:49,520 commodities, I'm long Bitcoin, I'm long gold, I'm short 1478 01:14:49,520 --> 01:14:52,800 treasuries, I'm short the United States government, right? 1479 01:14:53,000 --> 01:14:55,760 All of these people have said the same thing, and these are 1480 01:14:55,760 --> 01:14:57,720 some of the best investors of all time. 1481 01:14:57,920 --> 01:14:59,880 Don't make the trade too hard, right? 1482 01:15:00,040 --> 01:15:05,280 The dollar is not going to 0. It's becoming worth 0 in 1483 01:15:05,280 --> 01:15:12,120 relation to harder assets. Yeah, listen, that's cool. 1484 01:15:12,120 --> 01:15:14,400 What the fucking ball? One, I wanted to give some a 1485 01:15:14,440 --> 01:15:15,080 whoos. Here we go. 1486 01:15:16,000 --> 01:15:17,440 All right, all right, all right, right. 1487 01:15:17,440 --> 01:15:19,120 Well, Dante, thanks for coming on. 1488 01:15:19,120 --> 01:15:23,160 Actually, let's let's do one more plug your plug your Twitter 1489 01:15:23,160 --> 01:15:26,160 and then of course, guys go to joincolumbus.com if you're 1490 01:15:26,160 --> 01:15:27,720 interested in what Dante is doing. 1491 01:15:27,720 --> 01:15:29,880 But Dante, plug your Twitter real quick and then let's wrap 1492 01:15:29,880 --> 01:15:32,600 up today's show. All right, my Twitter is Dante 1493 01:15:32,600 --> 01:15:35,600 under score cook one trying to get to 10K. 1494 01:15:35,600 --> 01:15:37,800 I'm kind of a hermit on there. I don't post as much as I 1495 01:15:37,800 --> 01:15:39,480 should. I don't really like hanging out 1496 01:15:39,480 --> 01:15:41,040 on Twitter. It's hard for me to get out. 1497 01:15:41,040 --> 01:15:42,760 Like I got like literally 4 kids. 1498 01:15:42,760 --> 01:15:47,160 It's hard, but still Dante under score cook one and if you want 1499 01:15:47,160 --> 01:15:49,600 to learn more about Columbus, go to join Columbus com. 1500 01:15:49,600 --> 01:15:52,480 We're going to start ramping up that like really soon come out 1501 01:15:52,480 --> 01:15:54,120 of beta like really get out in the public. 1502 01:15:54,120 --> 01:15:56,440 People like what is this whole Columbus thing like you're going 1503 01:15:56,440 --> 01:15:58,360 to start to see really soon. We're pretty excited about it. 1504 01:15:59,400 --> 01:16:02,480 Love it bro, Love it. Well, you know, me too. 1505 01:16:02,480 --> 01:16:04,920 I'm trying to get to 10 K2, but I never plugged my Twitter. 1506 01:16:04,920 --> 01:16:06,600 I haven't even been active on Twitter. 1507 01:16:06,600 --> 01:16:08,960 But yeah, you know, since you're plugging, go to on Twitter and 1508 01:16:08,960 --> 01:16:13,880 follow me at Optimist Field. Let's get the self show in here. 1509 01:16:13,880 --> 01:16:16,800 Anyways, Dante, really appreciate you coming on the 1510 01:16:16,800 --> 01:16:20,240 show absolutely killed it today. Did an incredible job. 1511 01:16:20,240 --> 01:16:23,000 But so you know, we're going to have to bring you more on the on 1512 01:16:23,000 --> 01:16:25,160 the live show because the chat is loving it. 1513 01:16:25,160 --> 01:16:29,040 Maybe it maybe it'll be a a trifecta with you, myself and 1514 01:16:29,040 --> 01:16:31,280 Nico on the on the live show one day. 1515 01:16:31,560 --> 01:16:34,600 Thank you for coming in. And on that note, bro, let me 1516 01:16:34,600 --> 01:16:36,560 pull you behind the scenes and wrap up today's show. 1517 01:16:38,880 --> 01:16:41,600 All right? Boys and girls, mainly boys and 1518 01:16:41,600 --> 01:16:43,360 some girls. Of course, of course, of course. 1519 01:16:43,800 --> 01:16:47,600 Like the show. Subscribe to our YouTube comment 1520 01:16:47,600 --> 01:16:49,880 below. What you think of the stuff 1521 01:16:49,880 --> 01:16:51,600 we're saying, you know? Yeah. 1522 01:16:51,600 --> 01:16:53,240 But hey, let's be a little constructive here. 1523 01:16:53,240 --> 01:16:55,160 I know, I know we're, I know we're late a little bit. 1524 01:16:55,160 --> 01:16:57,120 So don't just be saying you guys should start earlier. 1525 01:16:57,440 --> 01:17:00,040 Be like, all right, maybe I agree or disagree. 1526 01:17:00,200 --> 01:17:02,520 We are. Open to constructive criticism. 1527 01:17:02,520 --> 01:17:05,480 Here, we love you guys. Have a good day and you know, 1528 01:17:05,480 --> 01:17:08,760 piggyback off our piggybacking off something, Dante. 1529 01:17:08,840 --> 01:17:12,400 OK said. Go outside, touch some grass. 1530 01:17:12,400 --> 01:17:14,920 Eat some good food. Call your loved ones, hang out 1531 01:17:14,920 --> 01:17:18,040 with your friends and family. The person you are yelling with 1532 01:17:18,040 --> 01:17:20,400 on Twitter will be there when you get back. 1533 01:17:20,600 --> 01:17:22,880 Get off the black mirrors boys and girls. 1534 01:17:23,120 --> 01:17:25,560 On that note, I'll be back tomorrow same time as always of 1535 01:17:25,560 --> 01:17:27,760 course. Monday through Friday, 12:15 PM 1536 01:17:27,760 --> 01:17:30,560 Eastern Time. This has been your boy Opti and 1537 01:17:30,560 --> 01:17:38,240 this is a simply Bitcoin. Live peace out bybitcoinwell.com 1538 01:17:38,240 --> 01:17:41,440 a Bitcoin only platform on a mission to enable financial 1539 01:17:41,440 --> 01:17:42,280 independence.