Yo, did the world's largest country and BRICS nations just
officially ditched the US dollar to adopt A new currency?
Well, another bombshell against the dollar has been dropped at
the BRICS summit yesterday, and rumors are circulating that
maybe, just maybe, the BRICS are about to create a new currency.
We've been hearing these rumors. We even got a visual of this,
but dare we speculate and say that we might see the BRICS
nations formally adopt Bitcoin? We don't know yet, but before.
You call us. Crazy.
You're calling me crazy. And before you, we play this
video of Putin yesterday at the BRICS summits denouncing the
dollar. Let's not forget the BRICS
countries are all almost entirely interested in Bitcoin.
We have old BRICS countries like China, of course, the Hong Kong
ETS been approved. Hash powers coming back online
in China. Russia's legalizing Bitcoin
mining. India's pivoting on its Bitcoin
stance. Brazil's new bank is the largest
digital asset bank in the world right now.
And Sailor met with a central bank coming out of Brazil in
2023. And of course we have South
Africa home to Bitcoin and Kazi. So there is a lot of interest in
regards to Bitcoin in BRICS nations.
But does that mean they're going to adopt Bitcoin yet?
No, but we're going to break this down for you guys because
they're talking about a new international payment system.
Obviously there's been a lot of concerns about Russia and
getting kicked off SWIFT and all that good stuff.
And we have even more interesting stories, which I'll
play for you from BRICS countries after this video.
So let's play you this video that we got yesterday from the
BRICS Summit about Putin talking about the US dollar, which is
something we always talk about here, and the nefarious nature
of the US dollar payment system. Very much.
Madame Rousseff, you said that the dollar was used as a weapon.
It is true and we see that. I think it is a great mistake by
those who do it since the use of the dollar, which is still the
most important tool in global finance and it's use as a
political tool, undermines trust in this currency, thereby
reducing its capabilities. We are not the ones who do that,
it's others. We are not rejecting the dollar,
fighting against it, but if they don't let us work with it, what
else should we do? We should seek other
alternatives and this is exactly what we do.
We aspire to cooperation, but still we should understand that
the longer we'll live and work under someone else's rules and
on someone else's platforms, the longer the transition will take
to build a new fair economic financial system and the more
turbulence we will experience, including those that we now
witness in the Middle East. We'll talk to our colleagues
about this later. Thank you very much for your
work. So anyone that hasn't been
sleeping under a rock. Has.
Probably gotten to the point that we talked about here
constantly about what has happened with the US dollar and
it being weaponized against our enemies.
You can argue that's good or bad, it's just that's the facts
of the matter. And This is why as a Bitcoin
channel. We are always.
Talking about the importance of having a non sovereign money,
something that no one can control.
It's a equal playing field for everyone.
And again, like I was saying, you know, the new BRICS members
are taking some pretty good Bitcoin stances as well.
Ethiopia, their government's been mining Bitcoin.
Iran's been mining Bitcoin for years.
Turkey, Ergodon, forgive me, has been meeting with Buchelli in
2023. And of course, they have rampant
inflation. So as Russia has been slowly
kicked off, the dollar kicked off, Swiss assets have been
frozen. It looks like they don't care
anymore and are making calls for a new international payment
system. Again, I do have some pictures
here and I'm not alone. I got my boy Dante Cook, AKA the
host of Bitcoin simply one of our new content creators.
So Dante, good to have you here. Let me just break down a couple
more of these headlines and then we will get into this and you
and I'll go back and forth. So this article came out from
the Guardian obviously kind of painting this as a bad thing
Again, they they are an American media publication.
So there is some concerns here and even some concerns coming
from the BRICS nations themselves.
But the headline here Putin calls for an alternative
international payment system at BRICS summit, Russian presidents
go to dollarized world economy alarms member that do not want
bloc to turn against West and moving down a little bit.
Russia is working on creating a settlement and payment
infrastructure that would bypass the SWIFT payment system based
in Belgium. The De Dollarization initiative
is probably the most concrete proposal likely to emerge from
the summit. That has been a remarkable
forgiving Putin his biggest international platform since, of
course, February 2022. You guys know why and this last,
this last quote here before I show you this picture of, you
know, potential, you know, symbolic gesture of announcing a
new currency coming out from the BRICS nation we have.
Agatha Demarius, a sanctions specialist at the European
Council of Foreign Relations, said at this stage it is hard to
imagine a widespread development and adoption of BRICS financial
tools globally. the US dollar's domination of the global
currency landscape is entrenched both for trade transactions and
foreign exchange reserves. More than 80% of global trade
transactions are invoiced in U.S. dollars, which also
accounts for nearly 60% of central bank's reserve.
And so again, look, we, we got this picture here coming out and
there's some pictures of their currency.
It looks kind of like they're making a new euro.
But of course, this would be the BRICS dollar or whatever they're
going to name it. It's not official yet.
They haven't officially announced a new currency, but
they are talking about it. And there is a symbolic gesture
of holding a, a new BRICS currency, a new BRICS dollar
now, which is very interesting to see.
And so of course, as a Bitcoin channel, we know all the
problems that go along with the SWIFT system, with that go along
with the US dollar. We have been weaponizing the
dollar. But I think the biggest point
there is to further spread that the US is shooting themselves in
the foot. Look, I'm an American, I
obviously want to see America continue to prosper.
But we're seeing that the politicians in Washington have
used the US dollar and weaponized it against our
enemies. Because if you really break down
the economics of this, the dollar is our biggest export in
the US. And now countries are looking
for alternatives. You know, we're seeing bonds
being dropped. No one wants U.S. government
debt. And this is kind of one of those
tit for tat things that we've pushed the world to such an
extent that now everyone doesn't want to use our dollar.
They're at least questioning the use of the dollar.
And of course I would argue, and I think Dante would argue as
well, and everyone here at Simply Bitcoin would argue.
That. I fundamentally think it would
be a mistake for Russia to create its own currency.
You saw that last quote there that most countries aren't
really going to want to join the Bricks payment system.
But there is roughly about 50 or no, what's it 41 nations that
are looking to join the bricks, you know, coalition.
And that is a growing trend that we're seeing.
People don't want U.S. debt. People are looking at the
weaponization of the dollar and they're looking for
alternatives. And obviously here at Bitcoin,
we would argue that the best alternative, the best
international payment system, or rather the best international
money period is Bitcoin. So it's going to be interesting
to see these conversations evolve.
Of course, you know, you can say that oh, we're being like
Russian Shields here because we're just covering the news
news and showing that hey, Russia wants to drop the dollar.
BRICS nations want to drop the dollar because it's been
weaponized against them and Bitcoin is that neutral money
and so once. All those countries get into
Bitcoin, they realize that Bitcoin is the true neutral
international money. I think the game is really going
to change and that's when adoption, I mean, we might even
hit hyper bitcoinization at that point.
It's when one of these big nations fully embrace Bitcoin,
fully adopt Bitcoin, and if we get all the countries that are
in. Bricks interested in joining
BRICS. That's a total of 50 countries
dropping the dollar going into the Bitcoin system.
And that is really when the game theory gets super crazy.
Anyways, Dante, I know you've been covering this lately.
I know you got your eye on the ball right here.
So what's your thoughts on this clip coming out from Putin?
What's your thoughts about BRICS nations dropping the dollar?
Man, couple thoughts. Before we get into any of the
logistics of the macro backdrop, I want to get into some cultural
commentary because even the translators that are translating
for Putin don't know how to have fun.
Like it's crazy. Like, you know, at least our
dictators or our evil people like a Bill Clinton or, you
know, even like you can take Kamala for example, like she has
a little cackling laugh that'll make you like kind of question
whether she's a good person or not.
But Putin just faces just like stone faced.
The translator behind him stone faced.
You know why I really think they're serious about the bricks
this time? Because I have 4 kids and taking
family pictures with. Six of us as hard as hell.
So when they try to get 35 of them in one picture, like you
had to know the camera person was pissed off.
Like they got 13 different translators Speaking of 35
different people and the picture look crazy.
I know that that was hard trying to get short people in the
front. Putin's like 55, you know,
trying to get Chi in there. You know, it's just a whole mix
of stuff going on in there. That's the cultural commentary.
So I know that they're really going to try to make it work
because doing a picture with 35 people and trying to get a good
shot, we got to maximize. All right, The most important
thing about bricks, like we in the United States, we have this
slanted view that we are the most important people in the
world. Top ten bricks countries
represent 45% of the world's population, 36% of the world's
GDP, $29 trillion and 4429% of the world's earth surface and
44% of total. GDP.
So look these people. Are are actually the the larger
in terms of population and even growth.
There's this great image that's coming out of the top G7
nations. None of the G7 nations are
growing above 3% in GDP. In the BRICS countries that are
represented there are growing above 3% in.
GDP, so some of these countries have favorable backdrops.
And one of the things that made the dollar is the dollar.
You go back to Bretton Woods, you go back to our pact with
Saudi Arabia. Once they found these new
reserves of oil, we said, hey, we will protect you.
We'll protect your waterways. We'll protect your you
militarily with our Navy. We just ensure that all of the
dollar or all of the oil that is paid for is paid for in dollars.
That's how the dollar. Became the global reserve
currency of the world, even beyond gold.
So you have to remember the dollar is really backed by the
currency of the world, which Natty Brunel said two days ago
on Charles Payne show energy. And these shows in these
countries have energy in abundance, right?
They are some of the leading exporters in terms of oil, in
terms of vegetables, in terms of some of the raw materials and
goods, lithium, Palladium. You saw the United States
government talking about putting a tariff on the Palladium
because Palladium is going to be really important for this AI
future and boom and Russia actually sits on top of all of
it. So it's going to be very
interesting. One of the things that I think
people have to realize is that the dollar is not going to be
worthless, that Putin said that himself.
We can't go away from the dollar.
It is the most important asset in global monetary trade. 87% of
transactions that happen globally are interchange or
denominated in dollars through interchange banks, through banks
themselves or through back office settlements that they do
after the fact. But the most important thing to
know is that the dollar will be worth less.
So the dollar will not go to zero in nominal terms.
The dollar will go to zero against everything that it's
measured against. When people say the dollar is
going to zero, I think everybody takes that the wrong way.
We're not going to get a doughnut in the dollar.
It's not a crypto asset in terms of it won't be worth anything
like 99% of those things. And shout out to ETH because I
get a an opportunity to bash them whenever I can.
You're down a trillion, like ETH is worth a trillion less than
Bitcoin right now for anybody who wants to make a stupid
decision and go on and on earth right now.
But the most important thing is that everything denominated in
the dollar will be worth less over time. the United States is
backed into a corner. They lost all trust from other
global reserve currencies and treasury buyers when they seized
$300 billion of Russia's assets going back two years and then
even threatened to fund the Ukrainian war, which is just a
shadow proxy war for the United States to fight against Russia
via another country in Ukraine. That's neither here nor there.
They broke the trust in the United States treasury system,
which was the world's free market return, safest safe haven
asset that you can put your money into.
And now they have nowhere else to go.
That's why BRICS is being created.
That's why they're doing what they're doing, not because we're
here to prop up these people or say that they're great people
and they're doing great things. It's because we've done this to
ourselves. And largely I believe that these
countries, because they are abundant in the world's
universal currency, which is energy.
I do believe that they are great proponents for Bitcoin as well.
Hold up, hold up. Dante coming in.
Absolutely killing and there's a few things that I want to touch
on before we go on. There was a great comment in
here and I've noticed this happening in a lot of different
scenarios as well. Hold on, I'm trying to find this
comment. It was by Skip on down the road
and he goes bricks members seem a lot like gold bugs that they
recognize the problem but not the solution, AKA Bitcoin.
And this is what we're seeing happening all the time.
Like, you know, a lot of the people in the world right now,
they, you can kind of liken them to like dinosaurs.
They, they see there's a problem, but they're just
redoing the same, the same steps that they've done before instead
of trying to branch out to something new.
And obviously we would argue that that new technology is
Bitcoin. And this is where we are right
now. The, the asymmetry of
understanding Bitcoin hasn't fully distributed around the
world. Yes, you guys are early here.
We've understood Bitcoin, we understand the impact of what
Bitcoin is. And there's still an uphill
battle here because there's still a lot of education that
has to be done to kind of get more people to adopt Bitcoin
because that's the most important thing here period, is
getting more people to hold Bitcoin, to get more people to
see the light, get more people understanding what is actually
at stake and how you know how, how we're cheatering, on the
verge of maybe a total global Fiat collapse.
The Fiat apocalypse might be upon us, but you're seeing that
the problems are being talked about, but not enough talk has
been happening in regards regards to the solution.
And that's why we're here. And This is why all you
Bitcoiners out there are actually doing the work of
trying to spread people or spread the adoption of Bitcoin
and get people on to the Bitcoin standard, or rather the personal
Bitcoin standard. But it is absolutely amazing
what you said, Dante, about like the trust has been eroded.
I think trust and institutions are, I don't know, I don't have
the data here, so I'm spitballing, but it seems at
least just that the trust and institutions are at the lowest
they've probably ever been. I don't know if much
historically accurate, but it does feel like that minimizing
trust in these institutions is crumbling.
And that's, I think part of what we've been talking about.
Just they've weaponized the dollar and people are looking
for alternatives and more people are going to wake up to the
Bitcoin standard anyways. Let's get into.
The show because we do have a lot for you guys, but before.
We move on guys like share, subscribe there's over 1000 of
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show. Let's see what you guys think
about this but of course we do got to pay the bills here at
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But on that note, guys, let's get in to the numbers.
Of course, of course, of course. Also, once you get a Bitcoin
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OK guys, let's get into the numbers.
We'll go over the numbers real quick before we cover some more
news. Of course, I'm over here on
Clark Moody's Bitcoin dashboard and the current price is 60.
7500 and. 60 so it looks like climbing back up we're we're
we're consolidating a little bit hopefully soon we'll break up
past the 70K mark. I think yesterday we said 77 was
the new all time high adjusted via inflation.
So we're almost there. Anyways, the stats per dollar,
AKA how much the dollar is worth in Bitcoin, AKA how much Bitcoin
you can buy for a single dollar is currently at 1480 stats per
dollar or 148 bits for the bits maxi in the batch.
I think that conversation is going to come back soon.
And the current block height, which might be the most
important number in Bitcoin. Yes, we all love the price, but
TikTok next block, this number shows that Bitcoin is working
exactly as designed we're at block height of 867,167.
The current market cap and Fiat terms is $1.34 trillion.
And the Bitcoin versus gold market cap, so much room to run
in the hard money game. We are only at 6.96% of gold's
market cap. Soon we will get to 100.
Soon enough we'll get there. And the total money supply, the
total issuance of all Bitcoin that will ever be created is
currently at 94.15%, at 19,000,700 and to 2180.49 BTC.
All right. Well, Dante mentioned something.
Earlier. We will get a.
Chance to dunk on Ethereum again.
I'm glad you brought that up. We are going to be talking about
ETS for a little bit. I know the ETF conversation has
been kind of beaten to a pulp. I guess.
I guess I'll say at this point metaphorically, because Nikko's
not here, but I'm sure a lot of his Bitcoiners are tired.
Obviously here at Simply Bitcoin, we are spot Bitcoin
Maxis. We think you guys should be.
Buying Bitcoin directly, you don't need to buy the paper
Bitcoin. But I get it.
If you are in Tradfi, you got your money locked up in the
Tradfi instruments, then maybe you want to get some Bitcoin
exposure. So do with that information as
you will, but covering the ETFs again.
It is undoubtedly. The best ETF launch ever,
literally ever. And here we got some numbers.
So this was tweeted out by Nate Karachi, president at ETF store.
And of course you know he's covering the ETF.
So 575 ETFs have now launched in 2024 and 14 of the top 30 by
inflow inflows are either spot Bitcoin or a shit coin ETF that
will not be named except when we dunk on it includes 6 of the top
ten. And there are also 2 master
related ETFs in the top 30. So this is probably the point
that we constantly keep stressing that.
And we're gonna say Bitcoin appetite, Bitcoin appetite from
Tradfi is real again. We've been joking all year long.
Don't sell your Bitcoin 'cause you're selling your Bitcoin to
Larry Fink or Michael Saylor. And and now you're starting to
see that it's catching on. We're seeing more big names come
out and say that they have only Bitcoin exposure, that you need
some Bitcoin exposure. I think we started the year at
like when the ETF came out like maybe you should have 1%.
Now the conversation is like, you probably should have like 5
to 10%. We'll soon enough get to the
point where we're like, you need to go all in.
You need to go all in on Bitcoin.
Anyways, going further on this, Eric Balkunis, of course, he
works at Bloomberg, right? Yep, analyst.
Senior ETF analyst at Bloomberg, he goes.
Great. Stats never.
He's just too amazed. I'll go one step further in the
last four years, 1800 ETS have launched and I bid of course the
Black Rock ETF is the most successful of all of them at $26
billion. And then this morning Eric comes
back on Twitter and he goes, we have this tweet here.
Actually, we'll go here 1st and goes Sean goes yet another big
day for BlackRock spot Bitcoin ETF now almost through 400,000
BTC under management liquidation heatmap showing strong potential
upside. Get some and get yours while you
still can. Of course, it's showing some of
the Bitcoin holders here and BlackRock is is it's coming.
You know, it's, it's going for the top spot.
Can they flipping Satoshi out there?
That's the real flipping that we're going.
Going to see and going further, you know, US spot Bitcoin ETF,
which is just covered. BlackRock is basically the
biggest one. It's dwarf grayscale, which had
the head the head start out there.
And it seems like all the money is rotating out of grayscale and
into BlackRock. So soon enough, once we start to
see that more people catch on to the Bitcoin Bitcoin ETF, it
won't just be the rotation of money from, you know, grayscale
into BlackRock. I think we're going to see a new
unlock of liquidity going into Bitcoin.
All right, now go on back to this tweet by Eric Balkunas and
he goes not yet 10 months old. And the ETFs are 97% of the way
to holding 1,000,000 Bitcoin and 87% of the way to passing
Satoshi as the biggest holder. I'll be presenting on this at
Logano. And if you're going to say going
to come, say hi. So it just goes to show that
Tradfly is loving Bitcoin. We've hit the mainstage.
Not only are we in the political discussion, not only are we
getting, you know, the nod from traditional financial asset
managers, we have entered the mainstage and the ETF now is
most likely, I think undoubtedly the best ETF ever.
And I think this is only going to increase, which just goes to
show that there is an and very obvious need and want for
Bitcoin. And of course, that's the first
step, get Bitcoin exposure. The next step is hopefully some
of these people start to actually hold Bitcoin directly.
But we know how the traditional financial world works.
It's very hard for them to get that trad by capital into
Bitcoin, of course. But it just goes to show that
you know, Wall Street has an appetite for Bitcoin.
So shouts out to every single one of you guys out there,
hashtag front Rand Wall Street. It's only matter of time until
Wall Street starts working for us and starts pumping our bags.
So, you know, there's a trade off here, yes.
There's an interest in Bitcoin Yes number is going to go up.
There is and should be a very real concern about how much
Bitcoin goes into these ETF considering that you know, I
know it's what what we get called yesterday.
Paranoid crypto anarchist are concerned about a six 102 order.
Personally think of all this ETF Bitcoin as the government's
Bitcoin, but hey, you know I'm, I'm just a paranoid crypto
anarchist over here but it's just it just goes to show that
the interest in Bitcoin is growing and man it it's been
pretty crazy to see how quickly Wall Street and the
institutional. Capitals of the world are
adopting Bitcoin Jump. In.
So, so here's so that I saw stat this morning, 47% of all
traditional hedge funds now hold Bitcoin.
And most of that's going to be through ETFs and it's 15 of the
top 25 hedge funds in the world now on Bitcoin.
And I think the thing that's most critical for people to
know, a lot of people don't know, Larry Fink started out at
this bank way back in the day, I think it was called First Bank
or First Boston Bank. And he was one of the original
creators of mortgage-backed securities.
This is like 1987 or 19861987. He blew up the fund.
They lost, you know, $100 million.
They were getting ready to fire him.
He was depressed, down on his luck.
Steve Schwarzman, a couple guys from Blackstone who actually
spun out Black Rock, said that, hey, you're one of the most
talented guys on Wall Street. You're 35 years old, we're going
to give you a shot. They gave him a $5,000,000 loan.
The dude only took out $150,000 on that $5,000,000 loan to start
Black Rock. They went from like a couple
$100 million in assets under management to like a billion in
less than a few years. And then they got up to a
trillion in 2000 when they went public.
So Larry Fink was the creator of mortgage-backed securities and
then in the early, late 90s, he was one of the first people to
adopt ETF. So this guy is a market maker
through and through. Everybody asks why he has so
much influence on the world. He's by most in all accounts in
the Wall Street world, doesn't mean a whole lot in the real
world, but one of the most talented people in that that
field and in that sphere. In 2020, so much so the United
States government called Larry Fink in order to help them think
about restructuring their bonds and their bond duration
portfolio. So literally, Larry Fink is the
king of finance. So when he came out and when he
flipped in 2022 to start to kind of change his tone on Bitcoin
from an absolute Ponzi scheme all the way into launching the
ETF, you knew that it was big. That was your time to buy.
And so like, honestly, it, it is what it is.
A lot of people get so caught up on whether you know, it's
Michael Saylor. Now that's a whole big debate.
Like everybody loves Michael Saylor when he's pumping their
bags and the micro strategy flywheel is pumping.
They issue more convertible bonds or more stock in order to
buy more Bitcoin, which pumps their price.
Everybody loves Michael Saylor. Then then he talks about
financial products or Bitcoin yield is how they're kind of
determining their cash on cash or the return that they get on
their Bitcoin. And then you know, like Al
Schlischmann and River comes out with a Bitcoin yield product and
everybody loves it. Like Long story short, like
Bitcoin is universal for everybody.
Now there are levels to this. There is no second best.
So in terms of Bitcoin versus other ETFs, there is no second
best. The Bitcoin ETF is the best
Bitcoin ETS versus real Bitcoin. There is no second best.
There is only the right thing, which is buying real Bitcoin.
And so I do believe, like everyone says, Blackrock's
buying this, Blackrock's buying it in a trust on behalf of their
shareholders. Now, is there a honeypot risk?
Is there concentration risk? Is there a risk that the United
States government will not be able to pay their unfunded
liabilities or all of their Medicare, their Social Security?
We all know that those things aren't true.
Is your pot of Bitcoin in an ETF through a government at risk?
In that scenario, absolutely. Seizure and confiscation is not
realistic. Lynn Alden actually had a
nostril post recently saying that seizure and.
Confiscation in a digital era like is not realistic at all.
But what is realistic is taxing or confiscating through products
and retirement portfolios because the only thing that
actually gives your financial or retirement portfolio the tax
free advantage is because the government says so, not because
the asset held in a 401K versus a Roth IRA versus you personally
is any different. It's no different.
It's just what the government tells you about that thing and
whether you're going to have to pay taxes on it.
So for me, like I always say, hold it personally, like there's
no question about that. But like.
It are. Is Wall Street going to get into
it? Yes.
Are mortgage-backed securities a thing?
Yes. Will there be bubbles that get
created on top of Bitcoin back products?
Absolutely. But what does that represent for
you? An opportunity to buy.
The richest people in America right now are the people who
bought real estate in 2009 and 2010.
The bubble is what created the opportunity for wealth in real
estate, not the other way around.
And so people say that this is a bad thing.
If you have a long term view and a long term perspective, keep
buying. Buy the real thing.
There is no second best. That's kind of my thoughts on
it. It's going to happen, Larry
thinks. A market creator.
He's the best in the world. No, no surprise that it's the
most successful product of all time.
You even hear it in their earnings reports.
It's driving the majority of Black Rocks profits in their
assets under management and so not a surprise.
Will will keep happening and yeah, glad that we have guys
like Michael Michael Saylor, Michael Michael Strategy Micro
Sailor, however you want to say it on.
Board, because if we didn't. We'd have guys like Jamie Dimon,
so pick your poison. Let's go.
Hold on. Everyone in the chat says Don,
let's go. Anyways, we are going to be
talking about taxes in in the news.
We do have a a recent development on taxes.
So I'm glad you brought that up because that is going to be the
news story today. But before we do that, Dante,
before I forget, I'm going to give you the floor so we can
cook Ethereum a little bit. So I saw this tweet here
yesterday from Thomas Throwlight and he goes, Bitcoin is worth a
trillion dollars more than Ethereum.
And you can check a coin market cap here.
Because of course in that ETF news that they were kind of
bundling the ETF with the Bitcoin ETF.
Of course, there's no second best.
It's it's Bitcoin and everything else is a shit coin.
But it is actually kind of crazy that Bitcoin now is worth a
trillion dollars more than ETH. Whatever happened to the the
flipping here? It's not eats what's going to
take over the world. So Dante, I'm going to give you
this moment. You want to cook eats a little
bit. Maybe this dissuade someone from
buying this trash coin known as Etherium.
That's my sailor side. So.
So look, the last time we've heard from Vitalik was him
getting commented through these articles 2 days ago about him,
him making a comment about Michael Saylor saying that you
know, Bitcoin held in institutions a terrible
strategy. That's been your entire strategy
from the beginning was literally to Co opt Ethereum with the guys
at JP Morgan and Web 3 and Metamask in order for
governments to create their own privatized block chains.
That's literally been your path from the very beginning.
So proof of stake, proof of trash there.
There's no no value in here that it's inherently not valuable.
All of the people that were riding on the backs of crypto
ETFs have been absolutely killed.
You haven't heard anything in the media about the ETFs
because? They're they're not existed.
They're not worthy to even be talked about.
Like there's no second best in all asset classes.
ETH is no, no, no. I guess no different than
anything else. The world Computer the the
Worldwide Compute Network that would allow you to earn a yield
via staking your assets. The dumbest thing that I've ever
heard. And so now it's just kind of
coming back out like it's coming full circle.
We only hear about Vitalik when he's talking about Bitcoin these
days because no one's talking about Ethereum.
Nobody cares. I hope it continues to get
buried. The the ratio is like .3, I
don't know, 3-6 or three, three. I think we'll see below a .3
ratio of Bitcoin to ETH in this next bull cycle and it's not
coming back. Let's go well, you know we we
don't do it enough here and shit on Ethereum because we are just
Bitcoin focused but absolutely love it.
I also can't help but throw an opportunity to to spread the
signal that it's Bitcoin only This is why we're simply
Bitcoin. This is why everything we tell
you is to just buy some Bitcoin, hold it long term, take it in
the cold storage, run a node. This is how you win guys keep it
simple. Do not gamble in the shit coin
casino and I think. I think, you know, the market
speaking for itself, people do not want to hold Ethereum.
Yes, they got their ETF, like you said, because of maybe their
connections with Wall Street. And that's probably why they got
that approved, even though Gary Ginza for a long time was
saying, hey, wait. Isn't this a security?
But hey, you know, they're going to play some trickery out there
and do some favoritism. But that's that's a whole other
story. Let's get into the news story
because we do have a very interesting news story today
coming out of Denmark. And it is a threat, you know, a
theme. We've been talking about here on
the show for a long time about as Bitcoin starts to completely
win and get out of the race, countries are going to start to
try to clamp down and do capital controls.
And we did talk about that Lynn Alden post the other day and
maybe maybe I should find it real quick and we can talk about
it while I cover the news. All right, let's.
Let's get into it guys. So.
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your Bitcoin the right way. All right guys, as I was telling
you actually maybe let me full screen this or no no, I'll cover
it in there's a there's a note here.
So we've been covering this theme on the show for a long
time. Remember last week we had the
talk from Italy proposing capital gains tax, raising the
capital gains tax from, I believe 26.
To 42. Percent, we also saw Kamala this
year or the Biden administration come out and say that they're
proposing a 25% capital gains tax on just Bitcoin itself and
and now we're seeing that in Denmark, they are proposing a
bill to tax unrealized cryptocurrency capital gains tax
next year. So I am over here on no BS
Bitcoin. I will.
Jump to the source for a little bit, but just kind of doing the
TLDR here. This new bill is expected to
present it to the Danish parliament in early 2025, with
the country's Tax Law Council recommending that the rules
should not be implemented before January 1st 2026.
At the earliest, so the Danish. History of taxation recommends
taxing unrealized gains and losses on cryptocurrency assets
in the same way it taxes stocks and bonds.
You know recommend they drop the 93 page report talking about
this. So let me let me go to the
source here. I'm on Atlas 21 kind of jumping
jumping in giving it a little more context.
So again, headline Denmark proposal for taxation on
unrealized cryptocurrency gains. The Danish tax proposal on
unrealized crypto gains. The goal is to implement new
regulations by 2026. The Danish Tax Council has
recently suggested the introduction of a bill to tax
unrealized gains and losses related to quote digital assets
and the details of the council reports.
In a 93 page report on the tax regime applicable to crypto
currencies, the council examined 3 potential methodologies for
taxing digital assets, a capital gain taxation, a warehouse
taxation and an inventory taxation, and the report
proposes a uniform approach to the taxation of digital assets
valid in all contexts. Danish Tax Minister Ross miss
Stockland Stockland emphasized the need for a clearer rules to
avoid unfair taxation under the current regime.
Sounds like an oxymoron unfair taxation, but clearer rules and
you're going to tax unrealized, you know, gains cap gains on
just Bitcoin or digital assets. Interesting all right so the
preference is for this inventory model.
Among the alternatives discussed, the report leans
towards the quote inventory inventory taxation model.
This model stipulates that the entire cryptocurrency wallet is
considered a single inventory tax on an annual basis at a
specific date, regardless of the sale of the assets.
In a similar scenario, digital assets would be treated like
other financial instruments such as stocks and bonds, taxing both
unrealized gains and losses. And detail regarding the
retroactive application of the tax rules for current wallets
remains unspecified. Some additional proposals
suggest that service providers for digital assets.
Excuse me, such as exchanges or cryptocurrency payment companies
should collect and share data on customer transactions.
This information could support collaboration amongst European
Union countries on tax matters. Of course, the timeline is no
earlier than 2025, may be implemented by January 1st of
2026. And I think this is the context
that we've been talking about. We've been covering it on the
show, the international contacts.
So the Danish proposal fits into a growing international mosaic
of tax regulations for crypto currencies.
In the United States, for example, a 25% tax on unsold
assets has been proposed by presidential candidate Kamala
Harris. At the same time, Italy is
considering an increase in taxes on capital gains for holders of
Bitcoin and digital assets, raising it from 26 to 42% by
2025. Which is, I think, just more
signal to what we've been saying.
Remember, of course, Chrissy Lagarde's been going out there
for years basically saying that. If there is an escape patch, if
there is an escape boat that we have to stop it.
Of course, they want you to stay having fun being poor.
They want you to keep you into the system.
And they are doing whatever they can to incentivize you with, you
know, fear of violence and fines to ensure that you cannot start
to prosper, that you can't increase your purchasing power
by holding Bitcoin. So I think this is, I wouldn't
say the last gasp of a dying Fiat system, but you can tell
that they're they're afraid, especially when you kind of link
that with the ECB report about, you know, how they can control
Bitcoin. We saw the Fed do another report
about maybe the best way. If Bitcoin wins, you know, we
should tax it. So now I think we've gotten to
obviously that then they fight you stage.
Where at first? They're like, let's ignore them.
Remember Neel Kashkari just came out and said, oh, Bitcoin is
worthless. And then literally in the same
week, he's like, well, maybe if it's worthless, we should still
tax them. This is how we can control it.
So which one is it? Is it worthless or do you want
to tax us? But I think the theme remains
the same that there is. And if you connect this with
what's going on in the BRICS Summit, there is an active
narrative or an active appreciation, an active move
towards people escaping Fiat currencies.
If you are not as well entrenched in economics and
traditional financial world and macroeconomics at large, you
know, you may not understand what's going on, but it's all
remaining the same. People.
People are realizing there's a problem with Fiat currencies.
People are realizing that maybe I don't want to hold paper debt
as my money right now. Maybe there's an alternative.
What is that alternative? Obviously we think it's Bitcoin
and especially when you connect this with what we saw.
All. Of this year 2024 with Operation
Choke .2 point O you're seeing that the powers that be the the
elites, if you will I, I don't like using that word, but you're
seeing that they are panicking out there and they want to
ensure that the sheep cattle stay in their system where they
can tax you, where you know they can shut you off from the system
where they can debank you, where they can stop transactions and
hopefully moving you you toward a dystopian CBDC digital
currency system. We all know that's the play.
We've been covering it all year long, but it is very interesting
that countries around the world are ramping up their control
mechanisms from capital flight. And this is what we're.
Seeing, I think we're going to see more of this plan out not
only the end of this year, but moving into the future that as
people find the need to wake up and start to save in Bitcoin,
the powers that be, those in control, obviously trying to
maintain their power are going to do whatever they can to stop
people from moving into Bitcoin. And obviously taxing us out of
existence on our unrealized gains is absolutely ludicrous
and definitely a way to ensure that you can't maintain your
purchasing power. And Dante, you jump in on this
and then I'm going to pull up the the Lynn Alden tweet.
So maybe if you want to reference that as well.
But what's your thoughts? First of all, what's your
initial knee jerk reaction to this Denmark proposal of taxing
unrealized gains on just digital assets or, you know, Bitcoin and
crypto? Well, I'm going to go ahead and
caveat my whole thinking on Denmark is what I call the
Denmark discount. Like I'm a discount anything
that's coming out of Denmark because the whole, the whole
economy is propped up on fraud and stuff that doesn't actually
work. So fraud number one, I think
they're the largest exporter in the world of wind and turbine
energy. Which we all know is just so
much of a fraud, right? We talk about ESG and how it's
going to be sustainable for the environment.
And then you drive by like any field on your way up to Chicago,
and you see about a billion dead birds in the middle of the
field. And all the concrete that's
there, right, is a sustainable and ESG positive for you.
You can't use it right in the grid directly.
Battery storage isn't good enough.
But like a lot of their economies built up on wind and
turbine energy fraud #1 fraud #2 Novo Nordisk, it's like their
poster child, right? Which we know has been coming
out with fraudulent drugs, right?
We we don't need to go down that whole, that whole rabbit hole
there. But yeah, that's that's Denmark.
And you know, the last time they were relevant in a sports
perspective, I think they had two guys in the Tour de France.
I will give them this. That they did that did win, but
we don't know. The Tour de France is full of
cheaters. So if you ain't cheating, you
ain't trying in the Tour de France.
And then I think they had a guy win the world championship in
badminton in like 2020. So overall, I'm applying the
Denmark discount to this. But what you saw with Norway is
they wanted to impose a wealth tax on the wealthiest people in
their country. And what ended up happening,
they thought that they would generate like another like 140,
you know, million in revenue. But literally five $54 billion
worth of net worth and revenue left the country.
And so they end up getting tax losses of like $500 million when
they thought that they. Were going to generate revenue.
So literally this never works. It's one of the dumbest policies
that you can enact. I do it to my kids though all
the time. I'm not going to lie.
I'm like Denmark, Daddy, if you, if you want me to put, put it
out there, I'll be imposing taxes on stuff that they
thinking about doing. Like that's what this is like.
I'm going to tax this thing that hasn't even happened yet.
Like go outside if you want to without shoes on.
I'm already going to put some marbles in the floor just so
your feet feel the fire of going outside.
And you might think about going outside without putting shoes on
instead of dragging this dirt through the house.
So I call it the Denmark discount.
It's a nothing burger to me. It's a stupid policy.
More wealth is going to leave the country then it's going to
come into the country. And all of these wealthy
pharmaceutical holders in Novo Nordisk and in all of these
different industries are just going to put their assets in
other countries. They're going to put them in
Swiss banks. They're going to.
Put them in in Bitcoin or more Bitcoin friendly jurisdictions
because it's an asset class whether you like it or not that
people want to invest into and so either you can get with it.
Or you can exclude yourself from the gains that are going to come
from it. But either way you lose.
If you try to ban it, you just ban yourself from the
opportunities that come from it. So Denmark is another, you know,
example. In this case, more wealth is
going to leave Denmark then it's going to stay there.
And I don't really take them seriously to be honest.
Yeah, it really does sound like, you know, it's a proposal.
And even if they do try to implement it, like not even
getting into all the details and the technicalities of of this
playing out like it, it feels like they're going to abandon
this. Hopefully there's enough
backlash where if people in Denmark are, you know, not just
sleepwalking into their own gilded cage and they're like,
no, this is not a good idea. Like, what are you saying?
And especially when you kind of think about like these
unrealized capital gains tax are being caused because they are
debasing the Fiat currency. And then there's even like, you
know, if, if this does spread like unrealized capital gains
tax, say on your house or something, they're going to be
so incentivized to just start confiscating people's assets
because the dollar or any Fiat local currency is just getting
destroyed right now. So basically everyone is going
to have unrealized capital gains taxes on everything they own.
You know, I hate using the term slippery slope, but this is this
is one of those things where if you don't understand how the
Fiat system works, it's like it makes no sense when you view it
from a Bitcoin perspective. But Dante, I am going to bring
up Lynn Alden's note here because we did cover it
yesterday, but I think it is fitting that we cover it today.
So yesterday we covered this in regards to Sailor talking about
self custody, which we cleared up during the show.
Of course, this is talking about the six one O 2 order and gold
confiscation. And I think the point here is at
the very end that the government's now can track or
can governments today track Bitcoin in the twenty 20s better
or worse than gold in 1930s for enforcement purposes?
That's the right question. And don't just think of this in
confiscation terms. Think of 70% selective taxes and
things like that. Far more within the current rule
of law that sophisticated approach.
Don't take it selectively, tax it by a lot.
This is probably. Where we're going and these are
the politics that we're seeing even being, you know, talked
about is now, you know, there it has been a lot of talk in
Bitcoin circles. We are all paranoid here and
we're wondering like, OK, when is the 61O2 coming down from the
pipeline? Because we know that they want
to ban Bitcoin, we know they don't like Bitcoin.
But I think kind of what Dante was saying and what Lid Alden is
saying and what we're even seeing from Denmark, from Italy,
we've seen this rolled out from the Harrison Biden
administration that they aren't actively or outright attacking
Bitcoin at this point. They're trying to choke the on
and off ramps. Of course, choke point 2.0.
Now they're kind of just floating these ideas of just,
hey, you know, we don't hate Bitcoin, but you need to pay
your fair share and we're going to tax you on just your Bitcoin
at whatever X rate. And hey, maybe we tax you on
your unrealized gains here and maybe this is how we control
Bitcoin and you're seeing all of this being flowed out.
And obviously as Bitcoiners, you can argue about the
technicalities of how they're even going to do that and how,
you know, do they even have the manpower and the money to go to
door to door and, you know, figure out where all.
These boating accidents were and etcetera, etcetera, etcetera.
But it is interesting that they are talking about this.
So I think very prescient from Lynn Alden being like this is
where the real ball is going and that's where we should keep our
eye on. Not so much that they're just
going to outright, you know, ban Bitcoin, try to confiscate our
Bitcoin. They're probably going to try to
tax us out of existence. And you, you know, we can talk
about that all day long here. But yeah, jump in, Dante.
Well, like like Christian Lagarbage or Lagarde ETB
president, you know, said this thing about well, you know, we
need to, we need to tax Bitcoin holders because you know, the
more that those people that were in at the beginning, you know,
the more revenue that they more, the more gains that they have.
Like we, we we need to tax in their fair share.
If you look at this chart of gold, like be before 1971,
right, we were at like, I don't know, $29.00 an ounce around,
you know, Franklin Delano Roosevelt and then obviously
$35.00 an ounce after 1945. And then we kind of stayed at
that level a little bit more to that level up until Bretton
Woods in 1971. And then the chart just goes
parabolic, like hundred $200.00 an ounce, $300.00 an ounce.
You know, in the 80s, you know, you got the $700.00 an ounce
went to $1400.00 an ounce. Anyways, lo and behold, they
didn't impose a tax on people who got into gold early, right?
There were no special taxes on the people who invested into
Amazon early or Microsoft early. If you look at any asset class,
there are people who disproportionately gain from
getting in earlier. That is one of the fundamental
concepts of capitalism. And for the United States that
is inconsistent because if they were to do that right, the value
of their own treasury holdings that they still have valued at
$35.00 an ounce, They would have to also discount the fact that
they got in early by confiscating people's gold and
being the number one holder of gold reserves in the world,
which we can't confirm because it's opaque market.
We don't know if Fort Knox is actually real.
All of this data anyways. That's like a whole different,
you know, topic. We don't need to go down that
rabbit hole, but the point is that this is true of every asset
class. So that's going to be wildly
inconsistent. I don't see how this sort of
legislation passes in the United States context.
I can absolutely see this going in Europe and other places,
which jurisdictionally is going to drive more value to the
United States dollar and this is what happens with that dollar.
Doom Loop. If you've ever heard of the
dollar milkshake theory from Brent Johnson, what happens is.
The value of the United States market increases relative to the
other emerging markets faster, which causes them to pull assets
out of their own economy to put them into the United States
economy, which then creates more of a distortion and more of a
location and more dollars flow. And so that's what happens is
the dollar continues to strengthen, not because the
dollar is strong, it strengthens relative to their weaker
currencies. And so this is a a story that I
will see play out. If they impose these sorts of
regulations in the European Union or in other places where
they're going to selectively tax Bitcoin, this would never fly in
United States context, like any rational judge or.
You know, just straight thinking person would say, well then
we're going to have to go back and tax every early shareholder
in every other asset class that you have out there, including
gold as a commodity. So what that's going to cause is
more flight and more capital to go to the United States markets,
which is what China is facing right now.
We're on a little bit of a tangent, but I'm on one.
So I just want to keep going. What's happening in China right
now? They're trying to bolster their
stock market because their economy.
Is absolutely crumbling. The property values, their real
estate values continue to go down, right?
The the consumers in China have low trust in their own economy.
And what you're seeing is they're flooding the market with
a bazooka of liquidity in order to prop up foreign investment
into their stock market. But ultimately, at the end of
the day, people don't trust the Chinese stock market.
And so Chinese investors, they. Put all of their money into
United States markets, they put it into Canadian real estate,
they put it into United States real estate in the Pacific
Northwest. They continue to send their kids
to College in the United States because they want to park their
assets in the United States. And that drives up the dominance
of the dollar. And so this is will continue to
happen if other jurisdictions continue to do things like this.
If they want to tax Bitcoin selectively by imposing a 70%
tax, good luck. More money's going to flow into
the United States. That's going to create a
stronger dollar and then it's going to create more pressure to
pay back those US denominated debts, which is the euro market
altogether. Tangent, but hopefully it's
valuable for people. Dante spitting today yeah and
and speaking even of China, they're they did I I think it
was just maybe floated but the you know the CCP, the Chinese
government out there is basically now at least talking
about taxing their citizens on foreign investments.
And so like is that going to also hurt the US real estate?
Obviously they are worried about capital flight and they're doing
and clamping down on capital controls.
And so this is the growing trend and This is why we talk about
this on the show all the time as a theme that the powers that be,
the international bankers, you know, the bankers, the
politicians, they aren't as stupid as you might think they
are. They understand the game as
well. And they understand that they
have to clamp down on capital because if capital isn't treated
correctly, it's going to flow to where it's treated well.
And we're seeing multiple examples of this play out.
And of course, Bitcoin is the superior money here.
It's, you know, it's a, it's the best money here and it's very
easy to just pick up all your wealth in Bitcoin, go where
you're treated well. And we're going to start to see
this nomadic Bitcoin meme really start to play out if more
countries and more governments start to act very unfavorably
towards Bitcoin. And we're seeing this happen in
in traditional finances. So it's only going to put, you
know, gasoline on the fire when they really come after Bitcoin
and men. We all know that it's coming
down the timeline and, and we see this happening in real time
here. It's a, it's like the train
wreck in slow motion here on simply Bitcoin because we
constantly cover it and people are like, what?
That's not gonna happen. It's never gonna happen.
And now it's like 2-3 months down the line, we're like, no,
see here, here's another example of capital control.
Whether they're trying to tax it, whether they're trying to
ban it, it, we know what the game is.
Once you understand how Bitcoin works and you look at the world
through a Bitcoin lens, you understand where the next move
on the chess board's going to come from.
And we all know it's going to be capital controls.
They're obviously trying to do that with Operation Choke .2
Point O. They're doing it in traditional
financial worlds. They're floating out all these
tax propositions. It's like it's coming soon
enough unless Bitcoin just blows through and we, you know, we get
this watershed moment where everyone becomes a Bitcoiner.
But that that's probably the most helping we had on the show
today. Yeah, No, I don't.
I don't. I don't see that happening.
But I mean, for those of us that do get in, I mean, you can
either, you can either deny it or or you can get with it.
I always keep this book with me, man.
I I like, I talk about this book more than I probably should.
This is the everything store with Jeff Bezos by Brad Stone.
Literally at the beginning of this book, he worked at a
company called DE Shaw, which basically created one of the
first, you know, like Gmail equivalents and you know, ad
based browsers and all these sorts of things.
He was the best employee at DE Shaw.
And he goes to his boss one day. You know, they're one of the
biggest and highest performing hedge funds out there.
He goes to his boss one day. He goes, yo, I'm about to leave
to to sell some books. And boss is like, what are you
talking about? What the hell do you mean you're
going to sell books? He's like, yeah, there's this
thing called the Internet and it's growing the last three
years, a compounded annual growth rate of about 1500% a
year. And I think it's going to be a
thing. And so, yeah, I'm just going to
start out selling books. We'll see what what happens from
there. Literally two months later,
dipped out, went to Amazon famously, you know, turn that
door into his desk and, you know, start it from there.
The whole point of that is he saw a world based upon the
compounded annual growth rate of the Internet, that this thing is
going to be sustainable. And so I'm going to start at the
very bottom, building a system that looks completely different
than every other commerce and every other store out there.
And lo and behold, we get more Amazon packages at our door than
anything else these days. And this is in a span of 20 to
25 years relative to when they went public in 1997.
So you have to understand the compounded annual growth rate
from when they went public is like 32% a year.
You have to understand when these trends happen, there's no
stopping them. There's a great chart this week
going out there about Netflix and how their subscriber chart
and growth is like taking off because Netflix was the first,
the first people in this whole streaming wars to have this
Moat. And when you get these first
advantage movers in this digital age, these digital monopolies
and digital networks are so devastating when you get that
first mover advantage and you get that first.
And Bitcoin has that Moat in the crypto world versus ETF and the
ETF world versus other financial products and the self
sovereignty market versus other things like gold, like what
you're starting to see in this digital world.
This is the digital hard asset of the next Millennium.
And so when you think about that, the, the, the trend is
obvious. Don't, don't fight the trade,
don't make it too hard. You can't see it.
But if you squint out far enough, you'll see that this is
following the same the same curves, the same loss, the same
things that we've seen in the past.
Totally, man, absolutely killing it today, Dante, Everyone, we
got one last segment. We're going to be talking about
all the stuff that Dante is working on.
But of course, there's over 1700 of you guys watching live.
Let's get the likes up on YouTube.
It helps us get pushed in the algos.
Hashtag for the algos. Let's make sure more people are
hearing this message. This is how we win is waking up
everyone out there to the real problems in the world.
But before we do that, let's get into the culture.
I think if you like Dante's spitting on today's show, he's
going to drop some more. Sauce for you guys.
All right, guys, of course, of course, of course we pay the
bills here. Make sure you go to
orangecoapp.com. If you are hearing what we're
saying today. The silver lining here is that
one day big corners will have all the wealth.
And so you want to stack some friends who stack sad.
So you need to ensure that you take these relationships from
the Internet and you bring them into meat space because hey, I
don't know if you guys noticed what happened the last four
years, but things have gone pretty crazy, like really crazy
the last four years. And it would have been better if
we had a small community of like minded individuals, or rather a
huge community of like minded individuals so that you can rely
on people that you know in meat space to fight back against the
great leviathan that we find ourselves in.
What a crazy world. Anyways, go to orangecoapp.com
stack friends who stacks that? This is the way.
All right, well, first and forest foremost, I'm just going
to show the YouTube a little bit here Dante, because if you like
what Dante is doing, if you aren't aware, Dante is one of
our newest content creators doing the Bitcoin Simply Show.
So Dante, you've been killing it.
Let's just give the people a little TLDR. You know, what do
you cover? What do you want to do?
What's the mission with the Bitcoin Simply Show?
Man, it's in the name. Like I, we don't want to
overcomplicate it. I want to make Bitcoin simple
for people. I mean, honestly, I want to make
it fun. I want to make it entertaining.
I want to make it relevant. So I'm always trying to mix in a
sports reference, a funny joke, a funny clip here that allows
everybody to kind of get on the same page with what we're
talking about. And so that's my whole goal with
the show in creating content again.
And in with that, you know, one of the biggest observations I
had when I was doing the Bitcoin Daily Show at Swan, I put out
this thing where I said, Hey, send me an e-mail with your
questions at daily@swanbitcoin.com and
literally surprised me. Like I would get like 30 to 40
emails a day if people asking these questions of how do I
navigate this? What is what is will quantum
computing destroy Bitcoin? What is a multi sig versus a
single sig? How do I know that the
government's not going to ban it?
And what you understand is that there's so many people like
Twitter is probably not the best medium to get like Lynn Alden or
or one of these, you know, experts to reply back to your
tweet with the serious question that you have.
LinkedIn is clearly not the other right community where it's
like literally like the algos ban anything and everything
about Bitcoin. But then it's like your
professional context. It's kind of weird.
Like none of your other peers are like really like engaging
with Bitcoin there. So I just thought like, hey,
what if there was this third space where people can literally
learn, engage in community with others about Bitcoin and like
get real questions answered? How do they navigate this new
frontier? And that's why I came up with
this idea of like Columbus. Like that's what I'm doing with
joincolumbus.com. And as we've been in beta for
like the last two months, we've got, you know, hundreds of
members now. And it's pretty cool to see
people really want community. They really want answers.
They want to go in depth. They want it to be easy and
understandable. And so that's what I want to do
with my show. That's the kind of content I'm
trying to create. I'm literally like in the
process, like somebody tell me not to do this, but like writing
a book to help make Bitcoin simple for people.
But it's literally all in the vein of helping people to try to
understand this new revolutionary technology that I
believe will change the world. It's just hard to see that it's
not going to do what everyone said that it will.
And I want to make that accessible to everybody.
Like those adoption curves, like the early adopters, that first
1% and you know we're in that kind of second phase of this S
curve. You're going to get like
everybody else jumping in here. I think it's my phone.
You're going to get everybody else coming in here that's, you
know, your grandfather, your uncle, your cousin and them,
they want to learn about Bitcoin.
But when you start talking about Merkel trees, you start talking
about lightning nodes, you start talking about datum and ocean
and all these protocols using all this language like, whoa,
that makes no sense to me. Well, you've got to break it
down in a way that helps them understand because everybody's
on a journey, crawl, walk, run. We're moving from, Hey, maybe I
might consider some in my in, in an ETF in a retirement
portfolio. Hey, let me, let me, let me
think about how do I buy some on one of these exchanges?
And the first ad that they see is Coinbase Terrible, I know.
But then one of your buddies convinces them to listen to a
podcast. They don't get off of they they
they move from Coinbase to a Bitcoin only exchange like the
Bitcoin well like river, like swan, one of these these Bitcoin
only companies that has their best interest in mind and then
they move from leaving it on an exchange to withdrawing it to an
online wallet. Maybe that's a blue wallet,
maybe that's phoenix wallet. Maybe that's one of these other
kinds of wallets where they kind of get interested in this sort
of thing and they send their first transaction and then they
realize that the transaction that they sent was too small and
it's going to create a small UTXO where the price of the fee
in the future is going to cost more than the stats that it's
worth in the UTXO. And so then and they go, oh man,
maybe I could just buy this Bitcoin, but withdraw it in
larger UTXO set so that I it's going to be valuable in the
future. And then they move from oh crap,
how do I do that? Well, I've got to download
Sparrow wallet or I've got to run my own start 9 lab node or
I've got to, you know, download one of these softwares to help
me or desktop software to help me understand these transactions
and to do these sorts of things. And then they go from single
transactions to multi sig right. Oh, well, I had to assign twice,
like multiple signatures in order to release these funds.
And then you go completely off the grid, right?
Everybody's on this continuum and on this journey.
Like, I'm really focused. Like, I love all the people on
the side, like all the hardcore folks.
I'm just not that hardcore. Like I'm watching Thursday Night
Football. I'm trying to see what, like,
you know, Matt Stafford, you know, does to the Vikings
tonight. Like former NFC North guy.
He's got to hate those guys. Weird.
They might trade them to the Vikings, sort of a weird turn of
events if he was in a Vikings jersey.
But like, I'm watching the game just like everybody else like
and people are looking at these different lines on FanDuel.
I don't bet I just buy Bitcoin. But it's interesting for me to
look at that stuff. And then so if I make a funny
joke related to the game that allows them to get into Bitcoin,
that's a win for me. So that's what I do three days a
week, hopefully more moving towards four days a week on
Bitcoin, simply on the Simply Bitcoin channel, and then
through Columbus throughout the week by trying to help people go
deeper in their journey. And then hopefully through a
book and other content that should be coming out soon.
But that's what I'm up to, man. Love it, Dante.
I mean, I, I do agree with one thing you said, you know, I
don't really watch much sports ball anymore.
I have been catching some college football games on the
weekend. But one thing that I find very
interesting and, and, and you kind of just touched on that is
like, yes, once you kind of get obsessed with Bitcoin, it's like
all you think about, But after you kind of get through that
initial like technical hurdle and you know, you understand
enough, you go back to, I just want to live a good life, man.
And, and Bitcoin is going to help me live that good life.
And hey, you know, I know a lot of Bitcoiners hate on people
that like football or watch sports and all that stuff, but
it's like there's other things outside of Bitcoin.
And this is how we get people into Bitcoin as not just a money
revolution, but like a cultural revolution.
Understand like, yo, there's a lot more to life than just
Bitcoin. But once you get on the Bitcoin
standard, once you fix the money, you will fix the world.
And so kudos to you and the journey over that, Columbus.
But I see you do want to jump in before we'll plug Columbus and
wrap up today's show. I mean, the the last thing that
yeah, I mean, my whole journey with getting people into Bitcoin
is so that we can we can we can get the things that we truly
want in life. Like so the thing that I I
always want to say is like nobody that's watching my you
know, Bitcoin simply shows are going to be a like my funeral,
like Bitcoin is an Ave. for me to connect with the people that
I love to spend the most time with.
I have 4 kids. I live in community.
If you walk around on the east side of Indianapolis, like
people know who I am. People know who I am in this
city. And so it's like I want to be
famous, like in my own city, in my own little pocket in my own
city, right? Like I want to be known by the
people that that know me best. And so that's kind of my end
goal. And so Bitcoin is an Ave. for me
to express that through financial financially through
through becoming financially sovereign and financially free.
And so my like, my whole thing with Bitcoin is like Bitcoin is
not the end, all right? It's not it's not the
destination. It's the journey towards the
place where you ultimately want to go.
So use it as a tool, use it as a resource to help you achieve the
goals and the things that you want in life.
And so that's my end goal. Like I'm out in the real world.
Like I'm out at like games, I'm coaching, I'm on sidelines, I'm
doing different stuff. Like we got to get off the
computers, we got to get off the screen, we got to get away from,
you know, the algos and all the things that people want to suck
us into so that we can start to get out into the real world.
So if you start to think in these epochs, these 4 four year
cycles, right like? You.
You really begin to desensitize yourself, to desensitize
yourself to the sways in the pools of all of this media, all
of these hype cycles, all of these election cycles.
And you start to think longer term.
And that's what Bitcoin ultimately allows you to do, is
you get into Bitcoin real deep and that allows you to exit into
the things that you care about more deeply. 10 agree more, 10
agree more. All right, let's let's play
Columbus one more. But there was a good question
here. And, and I'm also wondering
this, I know you, I know Chris is a part of this.
You have a couple big corners that I know that are part of
Columbus. But someone asks, can I join
Columbus to teach? People about nodes.
Like how does this community work?
And then let's plug how people can join Columbus.
Yeah, so Columbus, it's going to it's like a literal a digital
online community. And so I've been like behind the
scenes trying to build all this sort stuff out, but there's
literally going to be like forms and places where you can talk
about and ask questions about multi sig about lending options
on my Bitcoin. What's the difference between,
you know, debify or atomic finance or which again, all
these things that I don't like recommend to people or or these
sorts of things, but people have questions about them and they
want real answers. They want real deep dive.
So this is going to be a community, community where you
can ask those questions that are hard to ask in public.
So it's kind of a form sort of like Slack or Telegram or these
other things where you have these different channels that we
talk about these different topics.
Then we bring in different speakers.
So the last two speakers that I've had are Larry Lapard, I've
had Gio Santo Stasi, all right, to talk about the Bitcoin power
law. We're bringing in a multi cig
expert. We're actually going to go
through live. What is multi cig?
How do you invite different people into contracts?
How do you sign these transactions through your
signing device, not your hardware wallet, Bad term, but
teaching people all of these different differences with that.
And so there's a couple of different tiers.
There's the adventurer tier, which is anyone can join, they
can come and they can learn for free.
And we're going to have courses, we're going to have all of these
things in there. Then there's the explorer tier.
So these are people that are going to go a little bit deeper
in their journey. We get to have one-on-one calls,
like it's like 10 bucks a month. Like people get to actually
engage with like me and other Bitcoin experts like Elaine Mao,
someone you've seen on the show, other people that are working
behind the scenes that are going to answer your actual questions
and not just be out there in the in the Internet.
And then you have the adventure tier.
This is a place for like high net worth individuals and other
people to connect and like round tables with other people that
share their problems. These are people that own
businesses. These are people that have
significant networks. They have trust.
They don't know which lawyers to use, which trust advisors to
use, which accountants to use, like their existing network is
counter position to their desires, which is to go deeper
into Bitcoin. And so it's a small community
for this group of people to do this as well.
But like, that's the practical of it.
Like we're coming up on like 2 1/2 months.
We're really about to come out with all of these different
products and things. But like, it's a digital online
community to navigate your Bitcoin journey.
Love it bro. Killing it, killing it.
Oops, wrong comment, wrong comment.
Everyone's yelling at me because I'm not hanging out in the chat.
Hey guys, I'm I'm producing the show in real time as well.
But Dante, you killed it today. I do want to give you actually
two questions. First off, tell the people, tell
the people when you drop the Bitcoin simply show so they know
when to check out for you on the Simply Bitcoin channel.
And then I want I want to do one last question.
So do that quick plug, when do people find you on the Bitcoin
or Simply Bitcoin channel? The the only Simply Bitcoin
channel, the show that I produce is called Bitcoin Simply and
that comes out on Tuesdays, Fridays and Saturdays.
So I definitely want to plug that the shows typically come
out between 3:30 and 5:00 every single day or, or on those
certain days. Rustin is on the other days of
the show and we're thinking about even producing a Sunday
show. So we're coming out on Tuesdays,
Fridays and Saturdays on Bitcoin Simply.
Love it bro. OK, last question.
I know you're technically in the Co host seat today, but since
they're also kind of being the guest for today, I always leave
with the same question. What is the last message you
want to leave with the audience? It could be about life, it could
be about Bitcoin, it could be one last plug for Columbus.
Whatever it is, What's the last two sets you want to leave with
the audience today? Wow, I'm going to be back.
So I don't need to hit y'all with anything that's like morbid
or like, you know, go kiss your loved ones and that sort of
stuff. Like I'm going to leave with
this whole comment from like bricks and Putin and everything
that happened today. Like he said today that the
dollar is the most important financial asset in the world.
The majority of financial trade is facilitated through the
dollar. So he said, he didn't say that
the dollar is going to be worth less.
It's going to be worth less overtime when compared to harder
assets. So it isn't going to 0
nominally, it's going to 0 in the real terms when compared to
harder assets. The dollar will go to zero
against things like what Paul Tudor Jones and Stanley
Druckenmiller and even Larry Fink said, hey, I'm long hard
commodities, I'm long Bitcoin, I'm long gold, I'm short
treasuries, I'm short the United States government, right?
All of these people have said the same thing, and these are
some of the best investors of all time.
Don't make the trade too hard, right?
The dollar is not going to 0. It's becoming worth 0 in
relation to harder assets. Yeah, listen, that's cool.
What the fucking ball? One, I wanted to give some a
whoos. Here we go.
All right, all right, all right, right.
Well, Dante, thanks for coming on.
Actually, let's let's do one more plug your plug your Twitter
and then of course, guys go to joincolumbus.com if you're
interested in what Dante is doing.
But Dante, plug your Twitter real quick and then let's wrap
up today's show. All right, my Twitter is Dante
under score cook one trying to get to 10K.
I'm kind of a hermit on there. I don't post as much as I
should. I don't really like hanging out
on Twitter. It's hard for me to get out.
Like I got like literally 4 kids.
It's hard, but still Dante under score cook one and if you want
to learn more about Columbus, go to join Columbus com.
We're going to start ramping up that like really soon come out
of beta like really get out in the public.
People like what is this whole Columbus thing like you're going
to start to see really soon. We're pretty excited about it.
Love it bro, Love it. Well, you know, me too.
I'm trying to get to 10 K2, but I never plugged my Twitter.
I haven't even been active on Twitter.
But yeah, you know, since you're plugging, go to on Twitter and
follow me at Optimist Field. Let's get the self show in here.
Anyways, Dante, really appreciate you coming on the
show absolutely killed it today. Did an incredible job.
But so you know, we're going to have to bring you more on the on
the live show because the chat is loving it.
Maybe it maybe it'll be a a trifecta with you, myself and
Nico on the on the live show one day.
Thank you for coming in. And on that note, bro, let me
pull you behind the scenes and wrap up today's show.
All right? Boys and girls, mainly boys and
some girls. Of course, of course, of course.
Like the show. Subscribe to our YouTube comment
below. What you think of the stuff
we're saying, you know? Yeah.
But hey, let's be a little constructive here.
I know, I know we're, I know we're late a little bit.
So don't just be saying you guys should start earlier.
Be like, all right, maybe I agree or disagree.
We are. Open to constructive criticism.
Here, we love you guys. Have a good day and you know,
piggyback off our piggybacking off something, Dante.
OK said. Go outside, touch some grass.
Eat some good food. Call your loved ones, hang out
with your friends and family. The person you are yelling with
on Twitter will be there when you get back.
Get off the black mirrors boys and girls.
On that note, I'll be back tomorrow same time as always of
course. Monday through Friday, 12:15 PM
Eastern Time. This has been your boy Opti and
this is a simply Bitcoin. Live peace out bybitcoinwell.com
a Bitcoin only platform on a mission to enable financial
independence.