1 00:00:00,040 --> 00:00:03,640 What's better for Bitcoin, a pro Bitcoin politician or an anti 2 00:00:03,640 --> 00:00:06,600 Bitcoin politician? It's like choosing between, you 3 00:00:06,600 --> 00:00:08,760 know, cancer and the common cold I guess. 4 00:00:08,760 --> 00:00:14,040 And I'll take the common cold. We are the satoshis. 5 00:00:14,080 --> 00:00:17,360 Everything divided by 21 million is like the least amount of 6 00:00:17,360 --> 00:00:19,200 characters I can explain Bitcoin with. 7 00:00:19,320 --> 00:00:21,440 Ignorance is the only thing that can kill Bitcoin. 8 00:00:22,240 --> 00:00:26,160 All Fiat currencies die at some point, and they all die in 9 00:00:26,800 --> 00:00:28,800 hyperinflation. And how does this end? 10 00:00:29,160 --> 00:00:32,880 It ends in hyperbicronization. The orange pill is the the 11 00:00:32,880 --> 00:00:35,760 remedy to the black pill. You're 100% confident that it 12 00:00:35,760 --> 00:00:41,880 does? Yeah. 13 00:00:41,960 --> 00:00:44,600 Welcome to another episode of Simply Bitcoin IRL. 14 00:00:44,600 --> 00:00:47,800 We're here in the beautiful Lake Lugano in Switzerland and I'm 15 00:00:47,800 --> 00:00:52,280 here with a dear friends Canutes Vanholm and also uncle from 16 00:00:52,280 --> 00:00:54,280 another mother. Does that even make sense? 17 00:00:54,360 --> 00:00:56,840 I don't know. Anyways, Canute of course is 18 00:00:56,840 --> 00:00:59,000 well known for being an incredible authors, also has 19 00:00:59,000 --> 00:01:02,600 podcasts, but most importantly I think most of the community. 20 00:01:02,600 --> 00:01:05,319 Knows him by. Infinity divided by 21 million, 21 00:01:05,480 --> 00:01:07,480 Yeah. So could you explain that meme 22 00:01:07,480 --> 00:01:12,120 because it's the reason it's so effective is because it explains 23 00:01:12,120 --> 00:01:19,520 many, many things in a very condensed meme or number 24 00:01:19,760 --> 00:01:21,280 division equation. There we go. 25 00:01:21,280 --> 00:01:24,040 Yeah. So, so that's why I fell in love 26 00:01:24,040 --> 00:01:27,000 with Twitter in the 1st place. Like you had to condense your 27 00:01:27,000 --> 00:01:31,040 thoughts to 140 characters and that was really good for my 28 00:01:31,040 --> 00:01:33,840 writing because I had to compress everything to the like 29 00:01:34,000 --> 00:01:37,720 and everything divided by 21 million is like the least amount 30 00:01:37,720 --> 00:01:39,680 of characters I can explain Bitcoin with. 31 00:01:40,600 --> 00:01:43,840 It alludes to the fact that the the purchasing power of a 32 00:01:43,840 --> 00:01:48,000 Bitcoin or of a Satoshi can, can and will go up forever as long 33 00:01:48,000 --> 00:01:50,240 as Bitcoin works. Can you elaborate a little bit 34 00:01:50,240 --> 00:01:52,160 on that? Because that sounds crazy. 35 00:01:53,640 --> 00:01:56,960 Yeah, so the thing that intrigued me about Bitcoin in 36 00:01:56,960 --> 00:02:00,240 the 1st place was that here was this claim that we had something 37 00:02:00,240 --> 00:02:03,720 on the Internet now that couldn't be copied by anyone. 38 00:02:03,840 --> 00:02:07,920 And to me that was very a very strange statement. 39 00:02:07,920 --> 00:02:11,720 Like how can something in the realm of computer or the in the 40 00:02:11,720 --> 00:02:13,960 realm of information not be copied? 41 00:02:13,960 --> 00:02:18,080 Like if I say something to you, you hear it and then I still 42 00:02:18,080 --> 00:02:19,680 have the information of what I said. 43 00:02:19,680 --> 00:02:22,640 And you do too, like if I all information can be copied. 44 00:02:22,640 --> 00:02:26,000 It's in the very nature of information, which is why all 45 00:02:26,080 --> 00:02:29,160 intellectual property laws are bullshit and we should. 46 00:02:29,400 --> 00:02:31,000 You can't really own information. 47 00:02:31,560 --> 00:02:33,840 So. So I looked into it deeper and 48 00:02:33,840 --> 00:02:36,720 tried to like everyone else tried to debunk it and like this 49 00:02:36,720 --> 00:02:41,240 must be a scam and so on and so forth and took me like 10 years 50 00:02:41,240 --> 00:02:46,480 to figure out the the deeper reason why why the Satoshi's are 51 00:02:46,560 --> 00:02:49,960 sacred and special. The conclusion I came to is that 52 00:02:49,960 --> 00:02:54,600 the ability to move the satoshi is really just a secret that one 53 00:02:54,600 --> 00:02:58,760 person keeps from everyone else. So if if so they really live in 54 00:02:58,760 --> 00:03:01,080 your head rather than on the time chain. 55 00:03:02,000 --> 00:03:06,680 So the reason that I can act as if I own the satoshi, which is 56 00:03:06,680 --> 00:03:10,520 not ownable because it's just a number, is that I have a secret 57 00:03:10,520 --> 00:03:13,600 that being the private key, the seed phrase or the location of 58 00:03:13,600 --> 00:03:17,120 the private key doesn't matter. Like I have a secret that gives 59 00:03:17,120 --> 00:03:21,320 me access to move these things and I can thereby act as if I 60 00:03:21,320 --> 00:03:24,840 own them because I find it very on improbable that you have 61 00:03:24,840 --> 00:03:26,760 access to the same secret as I do. 62 00:03:26,960 --> 00:03:29,440 And I also find it very improbable that bikprints 63 00:03:29,440 --> 00:03:33,840 consensus rules will change to such an extent that my key will 64 00:03:33,840 --> 00:03:38,600 be worthless in the future. So we are the Satoshis in a very 65 00:03:38,600 --> 00:03:41,560 literal sense. We are, we are now some part of 66 00:03:41,560 --> 00:03:46,280 the same entity, which is also, by the way, that that that has 67 00:03:46,280 --> 00:03:49,120 so many implications. The the biggest one being that 68 00:03:49,440 --> 00:03:54,040 you and I are from a simple pumping our bags perspective, 69 00:03:54,240 --> 00:03:56,160 incentivized to be awesome to one another. 70 00:03:56,240 --> 00:03:57,560 Yeah. And keep on on click. 71 00:03:58,200 --> 00:04:03,120 So and I think that that doesn't end after hyperbicronization. 72 00:04:03,120 --> 00:04:05,080 There's no reason that that would ever end. 73 00:04:05,400 --> 00:04:08,160 Since the Bitcoiners are the bitcoins. 74 00:04:08,520 --> 00:04:11,480 We can, we can play this game forever and we're all of a 75 00:04:11,480 --> 00:04:15,360 sudden humanity is incentivized to be awesome to one another 76 00:04:15,360 --> 00:04:18,000 rather than to aggress against one another. 77 00:04:18,160 --> 00:04:20,160 And we, we can go deeper into that if you want to. 78 00:04:20,399 --> 00:04:23,120 Absolutely. I, I think the incentive aspect 79 00:04:23,120 --> 00:04:26,080 is fascinating, right. And the reason for that is I 80 00:04:26,080 --> 00:04:29,040 think Fiat causes a misalignment of incentives. 81 00:04:29,400 --> 00:04:33,360 And I think Bitcoin causes an alignment of incentive to such 82 00:04:33,360 --> 00:04:37,160 an extent that it is almost unbelievable, right? 83 00:04:37,600 --> 00:04:41,520 Because we're so used to this winner takes all, which is 84 00:04:41,520 --> 00:04:45,560 basically life under a Fiat standard versus life under a 85 00:04:45,560 --> 00:04:48,040 Bitcoin standard, which it's not to say that there aren't going 86 00:04:48,040 --> 00:04:51,320 to be winners, but specifically within the Bitcoin network, 87 00:04:51,480 --> 00:04:53,560 you're incentivized to talk about Bitcoin. 88 00:04:53,600 --> 00:04:56,480 I'm incentivized to talk about Bitcoin, why we hold Bitcoin. 89 00:04:56,640 --> 00:04:59,240 But let's say you're listening. And you don't. 90 00:04:59,240 --> 00:05:02,480 Own Bitcoin, you buy Bitcoin, you're going to benefit from me 91 00:05:02,480 --> 00:05:05,400 and you talking about Bitcoin. In fact, you're going to be 92 00:05:05,400 --> 00:05:08,200 benefiting from Larry Fink talking about Bitcoin and 93 00:05:08,200 --> 00:05:09,720 Michael Saylor talking about Bitcoin. 94 00:05:09,960 --> 00:05:12,920 And that's where Max Keiser's quote came from. 95 00:05:12,920 --> 00:05:15,880 I mean, his meme is this really a meme came from which is like 96 00:05:16,040 --> 00:05:19,000 Larry Fink is a Bitcoin employee of the of the month, right? 97 00:05:20,080 --> 00:05:23,280 So let's let's explore that topic a little bit more, right? 98 00:05:23,280 --> 00:05:26,760 Which is this radical thing that I think is very difficult to 99 00:05:26,760 --> 00:05:30,080 understand, which is the alignment of incentives that is 100 00:05:30,080 --> 00:05:31,440 possible under Bitcoin. Yeah. 101 00:05:31,440 --> 00:05:35,800 We we've been conditioned to think that economics is a 0 sum 102 00:05:35,800 --> 00:05:38,800 game or that there's always a loser where there's a winner. 103 00:05:38,880 --> 00:05:41,920 But in Bitcoin, if we denominate in Bitcoin, we can all be 104 00:05:41,920 --> 00:05:44,360 winners. Yeah, sure, winners at different 105 00:05:44,840 --> 00:05:48,640 paces, but but we're still all directionally winning. 106 00:05:49,480 --> 00:05:52,840 And I think what what the other aspect of this that is important 107 00:05:52,840 --> 00:05:56,720 is that it literally makes aggression less profitable 108 00:05:56,800 --> 00:06:00,120 because I can threaten you and try to take your bitcoins, but I 109 00:06:00,120 --> 00:06:03,280 have no way of knowing how many you actually had. 110 00:06:03,400 --> 00:06:06,920 So you can give me a, a tiny fraction of what you had and I 111 00:06:06,920 --> 00:06:12,440 have no way of verifying how how big of a fraction I actually got 112 00:06:12,440 --> 00:06:13,920 from you. And if I kill you? 113 00:06:14,840 --> 00:06:17,480 You know you get it all. I'm not, I'm not going to get 114 00:06:17,480 --> 00:06:19,760 any of it. In fact, the scarcity of the, 115 00:06:19,960 --> 00:06:23,720 the, the assets increases in that case and which benefits 116 00:06:23,720 --> 00:06:26,840 every other Bitcoin holder. So we get more like it's, it's 117 00:06:26,920 --> 00:06:30,880 truly unstoppable in that sense. So this leads me to my next 118 00:06:30,880 --> 00:06:33,360 question, perfect segue, which is you wrote a book called 119 00:06:33,360 --> 00:06:36,600 Bitcoin, the Philosophy of Everything, and you're just 120 00:06:36,600 --> 00:06:37,160 talking. About. 121 00:06:37,880 --> 00:06:39,080 I don't know. I think you did. 122 00:06:39,520 --> 00:06:42,440 Did you know I I wrote a book called Everything Bitcoin the 123 00:06:42,640 --> 00:06:47,560 everything divided by 21,000,000 and once called the Bitcoin the 124 00:06:47,560 --> 00:06:51,560 inverse of. We're not uncles anymore, so 125 00:06:51,560 --> 00:06:52,600 yeah. Could you talk a little bit 126 00:06:52,600 --> 00:06:53,600 about that? Yes. 127 00:06:54,000 --> 00:06:56,880 My first book is called Bitcoin Sovereignty through Mathematics. 128 00:06:56,880 --> 00:07:00,200 The second one is called In Bitcoin Independence Reimagined. 129 00:07:00,280 --> 00:07:03,360 And that is the one we're at at the in the Academy at the 130 00:07:03,360 --> 00:07:05,480 moment. And we're doing a YouTube show 131 00:07:05,600 --> 00:07:08,640 each and every chapter of each and every one of my books where 132 00:07:08,640 --> 00:07:12,200 Luke and I read a chapter and discuss the ideas in each 133 00:07:12,200 --> 00:07:14,480 paragraph. And then I wrote the everything 134 00:07:14,480 --> 00:07:18,080 divided by 21 million book. And after that a book about 135 00:07:18,080 --> 00:07:21,560 praxeology called Praxeology, the Invisible Hand That Feeds 136 00:07:21,560 --> 00:07:24,720 You, which is more about economics in general than than 137 00:07:24,720 --> 00:07:26,880 Bitcoin. And my latest one is called 138 00:07:26,880 --> 00:07:29,920 Bitcoin the Inverse of Clown World which I Co wrote with Luke 139 00:07:29,920 --> 00:07:33,720 the Wolf, my pod Co host and pod producer. 140 00:07:34,680 --> 00:07:36,840 I'll tell you about the best place to build your automatic 141 00:07:36,840 --> 00:07:40,920 self custody Bitcoin stack bitcoinwell.com. 142 00:07:41,160 --> 00:07:42,680 What makes Bitcoin well different? 143 00:07:42,680 --> 00:07:45,440 What makes it unique? It's an automatic self custody 144 00:07:45,440 --> 00:07:47,320 Bitcoin on ramp. What does that mean? 145 00:07:47,320 --> 00:07:51,000 That means that when you buy Bitcoin on Bitcoin well, as soon 146 00:07:51,000 --> 00:07:53,840 as the funds clear, it goes straight to yourself custody 147 00:07:53,840 --> 00:07:57,040 Bitcoin wallet address, which perfectly aligns with the simply 148 00:07:57,040 --> 00:08:01,840 Bitcoin ethos because after all, self custody is the revolution. 149 00:08:02,000 --> 00:08:06,040 By the way, if you go to bitcoinwell.com slash simply as 150 00:08:06,040 --> 00:08:08,640 soon as you make your first purchase, you get 3 151 00:08:08,640 --> 00:08:12,840 opportunities to win up to 1,000,000 Satoshis just for 152 00:08:12,840 --> 00:08:15,360 signing up and buying a little bit of Bitcoin. 153 00:08:15,440 --> 00:08:17,840 Seems like a win win. What are you waiting for? 154 00:08:17,880 --> 00:08:20,760 Go to bitcoinwell.com/simply today. 155 00:08:20,840 --> 00:08:23,560 So could you talk a little bit about your latest book, right, 156 00:08:23,560 --> 00:08:25,560 which is Bitcoin the inverse of Clown world? 157 00:08:25,560 --> 00:08:28,560 Do you think that Fiat is directly correlated with clown 158 00:08:28,560 --> 00:08:29,720 world? Absolutely. 159 00:08:29,840 --> 00:08:34,080 I think equality is the opposite of quality. 160 00:08:34,480 --> 00:08:38,240 So what we're, what we're living in now with and and also all of 161 00:08:38,240 --> 00:08:42,120 these other sayings like abundance in money, scarcity 162 00:08:42,120 --> 00:08:45,800 everywhere else and scarce money, abundance everywhere 163 00:08:45,800 --> 00:08:48,440 else. So we're if we have an elastic 164 00:08:48,440 --> 00:08:52,000 money supply and then that incentivizes people to spend 165 00:08:52,080 --> 00:08:54,160 their time and effort on frivolous things. 166 00:08:54,280 --> 00:08:57,760 What it also funnels well from the lower and the middle classes 167 00:08:57,760 --> 00:09:01,840 up into the so-called elite, which is basically just the most 168 00:09:01,840 --> 00:09:06,960 successful themes in society. While if we had something that's 169 00:09:07,160 --> 00:09:11,120 no single person can control but that controls itself rules for 170 00:09:11,240 --> 00:09:15,680 rulers, then every all prices will drop to the marginal cost 171 00:09:15,680 --> 00:09:17,760 of production and even further than that. 172 00:09:17,760 --> 00:09:20,760 I'd say the question I ask in the book is like when when a 173 00:09:20,760 --> 00:09:23,960 human being practices doing something, do they usually get 174 00:09:23,960 --> 00:09:26,800 better or worse at the thing they're practicing doing? 175 00:09:26,800 --> 00:09:30,160 So for instance, do you consider yourself a better podcaster now 176 00:09:30,160 --> 00:09:31,760 after you've done it for a couple of years? 177 00:09:31,760 --> 00:09:33,600 Like, do you get better at the thing you're? 178 00:09:33,600 --> 00:09:35,920 Doing well? Apparently not, because I asked 179 00:09:35,920 --> 00:09:37,560 you about a book you've never written. 180 00:09:37,560 --> 00:09:42,520 Don't worry about that, Uncle, but yes, yeah, through. 181 00:09:42,520 --> 00:09:44,640 Repetition is like my fourth interview. 182 00:09:44,640 --> 00:09:46,920 But yeah, in a repetition you obviously get better. 183 00:09:46,920 --> 00:09:48,280 Absolutely. Yeah, yeah. 184 00:09:48,280 --> 00:09:51,480 So the natural follow up question to that, that no one 185 00:09:51,480 --> 00:09:54,680 asks themselves this. So why aren't all prices falling 186 00:09:54,680 --> 00:09:56,360 forever? And if you denominate in 187 00:09:56,360 --> 00:09:58,160 Bitcoin, you can see that they actually are. 188 00:09:58,160 --> 00:10:02,520 So the it's the first time in history that we had a a type of 189 00:10:02,520 --> 00:10:07,320 money that accurately reflects the deflationary nature of of 190 00:10:07,320 --> 00:10:08,360 the free market. Yeah. 191 00:10:08,360 --> 00:10:11,960 And and I think that that concept right, which is 192 00:10:12,040 --> 00:10:14,120 something that is. I don't know. 193 00:10:14,160 --> 00:10:17,640 It is very simple, but it's actually very difficult to 194 00:10:17,640 --> 00:10:22,280 understand, which is the concept that naturally because of 195 00:10:22,280 --> 00:10:25,760 productivity games, because of technological games, prices 196 00:10:25,760 --> 00:10:28,880 should be falling. The Bitcoin is the only currency 197 00:10:28,880 --> 00:10:32,080 that is actually able to truly reflect that, you know, because 198 00:10:32,080 --> 00:10:35,400 it can't be manipulated, because it has absolute scarcity and 199 00:10:35,400 --> 00:10:38,360 every other currency, because it is manipulated, because it 200 00:10:38,360 --> 00:10:41,120 doesn't have scarcity, it has the exact opposite of scarcity. 201 00:10:41,120 --> 00:10:44,320 It doesn't reflect that at all. And it creates, to borrow from 202 00:10:44,320 --> 00:10:47,840 your books, you know, title. It creates clown worlds. 203 00:10:48,080 --> 00:10:52,040 It really messes up society in ways that I don't think a lot of 204 00:10:52,040 --> 00:10:56,160 people truly understand. Now the reason the reason it 205 00:10:56,160 --> 00:10:59,280 creates clown world is that everything becomes political. 206 00:10:59,280 --> 00:11:03,480 Everything becomes politicized because the the fastest way to 207 00:11:03,480 --> 00:11:07,560 acquire wealth is no longer to provide something of value to 208 00:11:07,560 --> 00:11:11,520 your fellow man that they asked actually asked for, but you can 209 00:11:11,520 --> 00:11:17,560 instead for a kiss ass within the political sector and within 210 00:11:17,560 --> 00:11:20,960 the banking sector and get your ways through that. 211 00:11:20,960 --> 00:11:24,160 And that is also why I think the hardest pill to swallow here is 212 00:11:24,160 --> 00:11:29,000 that democracy itself is a slippery slope to towards 213 00:11:29,000 --> 00:11:32,640 totalitarianism. I think in if you play out 214 00:11:32,640 --> 00:11:36,680 democracy over a long enough time period, it will always be 215 00:11:36,680 --> 00:11:39,840 be more and more corrupt, especially if you have 216 00:11:40,280 --> 00:11:43,120 inflationary currency. Yeah, I mean that subject in 217 00:11:43,120 --> 00:11:45,400 particular, I just had Svetsky on the show, so you could 218 00:11:45,400 --> 00:11:51,000 imagine, and you know that that rabbit hole is is a deep 1. 219 00:11:51,000 --> 00:11:54,320 And I was actually talking to Prince Philip, yeah, about this 220 00:11:54,320 --> 00:11:59,000 specific subject as well, and the general consensus in the 221 00:11:59,000 --> 00:12:00,320 West. And actually this is such a 222 00:12:00,320 --> 00:12:04,520 taboo subject, right, as that democracy is the end all be all. 223 00:12:04,640 --> 00:12:09,400 But the outcome that it's led to is basically the majority leads 224 00:12:09,400 --> 00:12:13,440 to basically like vote to loot the treasury. 225 00:12:13,600 --> 00:12:16,240 Right to to. Benefit themselves right there. 226 00:12:16,440 --> 00:12:20,360 It's a popularity contest, and the winner basically controls 227 00:12:20,560 --> 00:12:24,120 the money printer to benefit their voters. 228 00:12:24,560 --> 00:12:28,120 And then if the other side wins, the exact opposite happens. 229 00:12:28,120 --> 00:12:30,640 And it's just kind of like this crazy pendulum that starts 230 00:12:30,640 --> 00:12:33,360 happening, right? And that's what you define as 231 00:12:33,360 --> 00:12:35,440 clown worlds. And I think that's what we're 232 00:12:35,440 --> 00:12:37,280 seeing. And do you think it's a 233 00:12:37,280 --> 00:12:41,960 coincidence that clown World has accelerated the way it has been 234 00:12:41,960 --> 00:12:46,640 accelerated in the last decade or so, as Fiat money continues 235 00:12:46,640 --> 00:12:50,240 to disconnect itself more and more from reality the more they 236 00:12:50,240 --> 00:12:51,680 print? No, absolutely not. 237 00:12:51,760 --> 00:12:54,680 I mean, I think, I think it's inevitable when you have 238 00:12:54,680 --> 00:12:58,640 inflationary money, all Fiat currencies die at some point and 239 00:12:58,640 --> 00:13:03,120 they all die in hyperinflation because they have to follow a 240 00:13:03,120 --> 00:13:06,200 hockey stick curve, because the way the system is set up is that 241 00:13:06,280 --> 00:13:10,520 every single dollar in your pocket is owed by someone to 242 00:13:10,520 --> 00:13:14,640 someone else. And so, so it's all based on 243 00:13:14,640 --> 00:13:19,000 debt and that debt has to be paid back with interest. 244 00:13:19,720 --> 00:13:22,480 And the only way to create enough money to pay back the 245 00:13:22,480 --> 00:13:26,200 debt is to print more of it. So, so and the the debt 246 00:13:26,200 --> 00:13:28,880 compounds. So all Fiat currencies are 247 00:13:28,880 --> 00:13:32,120 following a hockey stick curve to hell which is they why they 248 00:13:32,120 --> 00:13:35,760 sometimes have to reboot these systems and and do the same scam 249 00:13:35,760 --> 00:13:37,200 again. Which is what happened here in 250 00:13:37,200 --> 00:13:40,480 Europe with the Euro. Like they replaced fail other 251 00:13:40,480 --> 00:13:44,680 failing currencies with a new destined to fail currency and 252 00:13:44,720 --> 00:13:47,080 they will do it again when when shit hits the fan. 253 00:13:47,080 --> 00:13:49,640 But it's it's still a scam. And how does this end? 254 00:13:49,920 --> 00:13:53,440 It ends in hyperbicronization. That's why I'm so bullish. 255 00:13:53,600 --> 00:13:57,200 I mean the orange pill is the the remedy to the black pill. 256 00:13:57,320 --> 00:13:59,200 You're 100% confident that it does? 257 00:14:01,960 --> 00:14:04,560 I wouldn't say 100%. Why not 100? 258 00:14:04,880 --> 00:14:07,800 Because like, I don't want to predict the future and there 259 00:14:07,800 --> 00:14:10,600 might be unforeseen events that I can't predict. 260 00:14:11,040 --> 00:14:15,080 However, in my praxeology book that I just rewrote and made a 261 00:14:15,080 --> 00:14:18,000 second edition of, I added three chapters and the very last 262 00:14:18,000 --> 00:14:20,960 chapter or the last but one chapter, the the last one of the 263 00:14:20,960 --> 00:14:23,240 added chapters is called What About the Roads? 264 00:14:23,400 --> 00:14:25,680 And in that chapter, I talk about the movie The Shawshank 265 00:14:25,680 --> 00:14:27,640 Redemption. Are you familiar with the movie? 266 00:14:27,640 --> 00:14:30,040 I love that movie. Yeah, it's actually a movie 267 00:14:30,040 --> 00:14:35,560 about about libertarianism, I'd say, or above freedom because 268 00:14:35,760 --> 00:14:40,120 there's there's 90 year old inmates that gets released and 269 00:14:40,120 --> 00:14:42,560 two weeks later he hangs himself because he's become so 270 00:14:42,560 --> 00:14:46,880 institutionalized and used to they like the prison routines, 271 00:14:47,240 --> 00:14:49,960 previews, free meals per day and all of that. 272 00:14:50,240 --> 00:14:53,280 He knows the but he doesn't know the outside world. 273 00:14:53,280 --> 00:14:59,280 So everything he finds when he's released is fear and the the 274 00:14:59,280 --> 00:15:02,680 protagonist, Andy Dufresne. He has his friend Read, played 275 00:15:02,680 --> 00:15:06,600 by Morgan Freeman, who warns him about the dangers of hope. 276 00:15:06,840 --> 00:15:09,200 Like, if you have hope, you will, you will only be 277 00:15:09,200 --> 00:15:11,480 destroyed. But Andy refuses to listen to 278 00:15:11,480 --> 00:15:13,200 that. And whilst everything else is 279 00:15:13,200 --> 00:15:15,400 going on in the movie, he's slowly but surely. 280 00:15:15,400 --> 00:15:17,520 Yeah, he. Figures out a way. 281 00:15:17,520 --> 00:15:20,240 Minds literally minds his way out to the prison. 282 00:15:20,800 --> 00:15:26,040 So the sense morale of the the movie is that hope is a rational 283 00:15:26,040 --> 00:15:28,200 choice. If we're not hopeful, then we 284 00:15:28,400 --> 00:15:34,760 the Shawshank walls become real. There's that's what enables. 285 00:15:35,240 --> 00:15:39,960 That's why the Soviet Union was a a giant continent sized prison 286 00:15:39,960 --> 00:15:43,160 for 70 years. And hope is what ended it. 287 00:15:43,320 --> 00:15:46,360 People actually seeing that there's a way out of these 288 00:15:46,360 --> 00:15:49,160 things. So you can't do it collectively. 289 00:15:49,160 --> 00:15:50,640 You have to. You have to come to these 290 00:15:50,640 --> 00:15:54,040 realizations yourself and start living as a Freeman. 291 00:15:54,440 --> 00:15:59,600 Canoe that is extremely powerful and I connected it with when I 292 00:15:59,600 --> 00:16:01,400 asked you, I said, are you 100% certain? 293 00:16:01,960 --> 00:16:04,960 And essentially what you're reminding me of is that very 294 00:16:04,960 --> 00:16:10,120 famous, that very famous viral video of the the guru. 295 00:16:10,360 --> 00:16:11,840 I am, but the people are. Retarded. 296 00:16:11,840 --> 00:16:15,760 And he's like, the problem with democracy is that, you know, 297 00:16:15,920 --> 00:16:18,240 it's by the people. For the people. 298 00:16:18,920 --> 00:16:22,880 But the people are, this is going on YouTube, not very 299 00:16:22,880 --> 00:16:25,800 smart, yeah. And the people are the R. 300 00:16:25,800 --> 00:16:29,720 Word and I'm connecting that with with what you're saying, 301 00:16:29,720 --> 00:16:33,720 which is people have so been accustomed to living in the Fiat 302 00:16:33,720 --> 00:16:38,240 matrix that even though they're presented with clearly a better 303 00:16:38,240 --> 00:16:42,480 alternative actual freedom. What the hidden variable that 304 00:16:42,480 --> 00:16:46,040 you're thinking about is that potentially there's a percentage 305 00:16:46,040 --> 00:16:49,480 of the population that might not even want that because they're 306 00:16:49,480 --> 00:16:54,520 so accustomed to being in prison to use the Shawshank Redemption. 307 00:16:54,720 --> 00:16:56,360 Yeah. Reference. 308 00:16:56,440 --> 00:16:59,680 Yeah, I'd say. I'm 100% certain that hope is a 309 00:16:59,680 --> 00:17:03,360 rational choice. It's like the warning that Andy 310 00:17:03,360 --> 00:17:06,200 gets from Red is that you're going to die in here. 311 00:17:06,200 --> 00:17:07,599 You better get used to the thoughts. 312 00:17:07,599 --> 00:17:10,800 But but the the counter to that is that you're going to die 313 00:17:10,800 --> 00:17:13,319 anyway, so you might as well be hopeful. 314 00:17:13,440 --> 00:17:15,640 Yeah. 'Cause it's a, it's a single, 315 00:17:16,400 --> 00:17:18,119 you're going to end up in the same place, right? 316 00:17:18,280 --> 00:17:19,640 Yeah. So might as well fight I. 317 00:17:19,640 --> 00:17:24,560 Guess might as well, yeah. And at least be proud of the 318 00:17:24,560 --> 00:17:26,880 life you LED. Yes, 100%. 319 00:17:27,119 --> 00:17:30,480 Do you need liquidity without having to sell your Bitcoin for 320 00:17:30,480 --> 00:17:32,800 more than six years now? Leaden has been the. 321 00:17:32,800 --> 00:17:37,160 Trusted source for Bitcoin back lending with transparency, 322 00:17:37,160 --> 00:17:39,720 security and trust at their core. 323 00:17:39,720 --> 00:17:46,600 Backed by $9 billion of Bitcoin loans funded and over 1005 star 324 00:17:46,600 --> 00:17:49,280 reviews. I absolutely love these guys 325 00:17:49,360 --> 00:17:53,080 because of their flexibility. You can pay back your loan 326 00:17:53,200 --> 00:17:58,080 whenever you want and there are no monthly payments so you pay 327 00:17:58,080 --> 00:18:01,880 at the end of the term. You get lightning fast access to 328 00:18:01,880 --> 00:18:05,320 capital as soon as you send your Bitcoin as collateral. 329 00:18:05,320 --> 00:18:09,400 You get the cash into your account within 18 hours. 330 00:18:09,560 --> 00:18:13,440 Unlock the liquidity of your Bitcoin without having to sell 331 00:18:13,440 --> 00:18:17,640 your Bitcoin. Simply Bitcoin viewers get .25% 332 00:18:17,640 --> 00:18:21,560 off their first loan by using the link in the video slash 333 00:18:21,560 --> 00:18:24,080 podcast description. What are you waiting for? 334 00:18:24,160 --> 00:18:28,680 Check out Leaden today. So Canoe, Bitcoin has changed. 335 00:18:28,880 --> 00:18:33,160 Bitcoin is a little bit different than early days, you 336 00:18:33,160 --> 00:18:37,040 know, 5678 years ago, 10 years ago. 337 00:18:37,680 --> 00:18:40,440 It's matured a little bit since the approval of the ETF two 338 00:18:40,440 --> 00:18:44,440 years ago, January of 2024. I wouldn't classify that as 339 00:18:44,440 --> 00:18:46,440 maturing. But no, the reason I'm saying 340 00:18:46,440 --> 00:18:48,720 that is, you know, it's become a little bit more. 341 00:18:49,200 --> 00:18:51,200 The suit coiner is my friend. Oh, yeah, yeah. 342 00:18:51,360 --> 00:18:54,360 You know, before. Before it was all hitties and 343 00:18:54,360 --> 00:18:55,520 all memes. Yeah. 344 00:18:55,720 --> 00:18:58,240 And now a lot of suits. And ties. 345 00:18:58,320 --> 00:19:00,160 Yeah. What's your take on that, man? 346 00:19:00,160 --> 00:19:04,160 Because like what worries me specifically with that is people 347 00:19:04,160 --> 00:19:08,440 are forgetting what makes Bitcoin so powerful and that is 348 00:19:08,440 --> 00:19:11,960 the self custodial aspect of it. That's the sovereignty aspect of 349 00:19:11,960 --> 00:19:13,280 that. And I think people are 350 00:19:13,280 --> 00:19:16,280 forgetting that with this kind of institutional adoption of 351 00:19:16,280 --> 00:19:18,680 Bitcoin. Yeah, a phrase I miss hearing at 352 00:19:18,680 --> 00:19:21,840 Bitcoin conferences is not your keys, not your coins. 353 00:19:21,840 --> 00:19:24,400 Because it's still true. It will always be true. 354 00:19:24,600 --> 00:19:26,880 None of these reserve companies have any Bitcoin. 355 00:19:27,240 --> 00:19:30,840 Like some guy at Coinbase has those bitcoins or a group of 356 00:19:30,840 --> 00:19:32,960 guys if it's a multi sync thing I actually heard. 357 00:19:32,960 --> 00:19:35,000 It's Brian Armstrong. He's a Ledger and his night 358 00:19:35,000 --> 00:19:35,680 stand. Yeah, yeah. 359 00:19:35,880 --> 00:19:40,960 Anyway, whoever it is, this some guy can go off and buy an island 360 00:19:41,360 --> 00:19:43,800 somewhere. You can bleep that out if you 361 00:19:43,800 --> 00:19:45,800 want. So. 362 00:19:45,800 --> 00:19:50,480 So I'd like to like stress that. And Bitcoin is more resilient to 363 00:19:50,480 --> 00:19:54,000 attacks the more it belongs to individuals rather than 364 00:19:54,000 --> 00:19:56,440 institutions. So I don't, I don't necessarily 365 00:19:56,440 --> 00:19:59,520 like these honeypots. I think people should acquire 366 00:19:59,520 --> 00:20:03,880 their bitcoins KYC free and absolutely not sell them to the 367 00:20:03,880 --> 00:20:07,280 exchanges to the KYC, the exchange, because you don't want 368 00:20:07,600 --> 00:20:09,760 you don't want them to be in this honeypots in the. 369 00:20:10,080 --> 00:20:14,160 In the 1st place, and I see that the saying is now you either die 370 00:20:14,160 --> 00:20:17,680 a big coiner or you live long enough to to see yourself become 371 00:20:17,680 --> 00:20:21,400 a suit coiner. I I I I choose to be Batman. 372 00:20:21,400 --> 00:20:24,800 Like just be yourself is always good advice. 373 00:20:24,800 --> 00:20:27,440 But if unless you can be Batman, then be Batman. 374 00:20:27,560 --> 00:20:28,920 Canoe. Technically, you're wearing a 375 00:20:28,920 --> 00:20:31,640 suit. Damn. 376 00:20:38,520 --> 00:20:40,880 So man. Let's talk about this cycle, 377 00:20:41,000 --> 00:20:45,200 right, which is definitely been quite interesting to to say the 378 00:20:45,200 --> 00:20:46,960 least. You know, I think Bitcoin has a 379 00:20:46,960 --> 00:20:51,520 way with expectations, right, of just grinding them down, 380 00:20:51,720 --> 00:20:54,280 pulverizing them, making them disappear. 381 00:20:54,400 --> 00:20:56,600 I think that this cycle is is played out a little bit 382 00:20:56,600 --> 00:21:00,360 differently and it's precisely because of of the institutional 383 00:21:00,360 --> 00:21:02,800 adoption of Bitcoin. Retail doesn't even know Bitcoin 384 00:21:02,800 --> 00:21:05,080 exists at this point. If you look up the Google 385 00:21:05,080 --> 00:21:09,960 trends, it's like hasn't even surpassed the 2021 all time 386 00:21:09,960 --> 00:21:12,880 high, right? So my question to you is, you 387 00:21:12,880 --> 00:21:15,800 know, are the is the era of the parabolas over? 388 00:21:16,000 --> 00:21:19,440 I mean, I don't know and honestly I don't care that much. 389 00:21:19,440 --> 00:21:23,440 Like 1 one Bitcoin equals one Bitcoin and as long as that is 390 00:21:23,440 --> 00:21:26,160 true, they will inflate the Fiat money supply. 391 00:21:26,160 --> 00:21:29,960 So in measured in Fiat your the value of your bitcoins will 392 00:21:29,960 --> 00:21:33,560 eventually go up whether that happens tomorrow or like a 393 00:21:33,560 --> 00:21:36,760 couple of generations from now. It's not really important if you 394 00:21:36,760 --> 00:21:40,600 lower your time preference as long as you can like and sure, 395 00:21:40,920 --> 00:21:44,120 skim off the top of your stack if you have to. 396 00:21:44,320 --> 00:21:48,400 But still the the best thing you can do is acquire some Bitcoin, 397 00:21:48,600 --> 00:21:52,800 wait a decade or two before you use any of it, and stack in in 398 00:21:52,800 --> 00:21:55,480 the meantime. That's that will always work. 399 00:21:55,800 --> 00:21:59,160 Or make sure you have more Bitcoin than the day before. 400 00:21:59,560 --> 00:22:02,760 Yeah, if if you're one set up per year, you're an absolute 401 00:22:02,760 --> 00:22:06,080 winner because at the end game of this there there will be no 402 00:22:06,080 --> 00:22:09,160 more sets and everyone's under estimating the upcoming SAT 403 00:22:09,160 --> 00:22:13,280 squeeze like 96 point something percent of the coins have 404 00:22:13,280 --> 00:22:16,440 already been mined. So in the the 1st 15 years. 405 00:22:16,440 --> 00:22:22,640 So we have like over the next hundred, 120 or so years of the 406 00:22:22,880 --> 00:22:26,280 the, the the remaining 3 and 3 1/2 percent will be mined. 407 00:22:26,480 --> 00:22:29,960 I want to give a shout out to our partnersat123.com 408 00:22:30,120 --> 00:22:32,680 Sovereignty isn't just about your money, it's about your 409 00:22:32,680 --> 00:22:35,720 communications, too. When the grid goes down, most 410 00:22:35,720 --> 00:22:38,120 people go dark. Cell towers fail, and 411 00:22:38,120 --> 00:22:41,280 hurricanes, cyber attacks and blackouts the satellite phones. 412 00:22:41,320 --> 00:22:43,040 They don't rely on local infrastructure. 413 00:22:43,160 --> 00:22:47,200 Iridium has 77 satellites lights in orbit giving you a Direct 414 00:22:47,200 --> 00:22:49,640 Line anywhere in the US, even offshore. 415 00:22:49,720 --> 00:22:52,720 If you hold your own Bitcoin keys, you should hold your own. 416 00:22:52,720 --> 00:22:57,280 commstoosat123.com also has everything you need to start 417 00:22:57,280 --> 00:23:00,160 building your Bitcoin. Citadel, Starlink, battery 418 00:23:00,160 --> 00:23:04,000 backups, Faraday bags to protect your hardware wallets, and much 419 00:23:04,000 --> 00:23:06,800 much more. It's a one stop shop for anyone 420 00:23:06,800 --> 00:23:09,720 serious about resilience and off grid independence. 421 00:23:09,760 --> 00:23:12,680 Stay connected, stay independent, stay sovereign. 422 00:23:12,800 --> 00:23:17,760 Go to sat123.com slash simply today and use promo code simply 423 00:23:17,960 --> 00:23:20,520 to get 15% off anything on the store. 424 00:23:20,520 --> 00:23:24,600 Does the paper Bitcoin aspect where you at all as you were 425 00:23:24,600 --> 00:23:28,520 mentioning earlier, right this centralization of of this giant 426 00:23:28,520 --> 00:23:31,560 honeypot that is Brian Armstrong's night stand the. 427 00:23:31,560 --> 00:23:37,240 Future I'm looking forward to is not like a Fiat Fiat economy is 428 00:23:37,240 --> 00:23:40,280 integrating with Bitcoin. I'm here for the last scene of 429 00:23:40,280 --> 00:23:43,920 Fight Club where I've just shot myself through the face and work 430 00:23:43,960 --> 00:23:45,720 metaphor. Yeah, yeah, the credit card 431 00:23:45,720 --> 00:23:49,560 companies are crumbling down like the the irony is that 432 00:23:49,560 --> 00:23:53,120 Bitcoin needs to be that to survive in the long run at all. 433 00:23:53,400 --> 00:23:57,040 And sure there are scenarios where where this experiment has 434 00:23:57,040 --> 00:24:00,480 failed. We, as in the users and the node 435 00:24:00,480 --> 00:24:04,960 runners, if we don't remain vigilant and if we if we become 436 00:24:04,960 --> 00:24:10,080 too passive in defending this thing, then then we're on thin 437 00:24:10,080 --> 00:24:12,240 ice, I think. Yeah, yeah. 438 00:24:12,280 --> 00:24:13,880 No, I agree. I agree. 439 00:24:13,880 --> 00:24:16,040 Ignorance is the only thing that can kill Bitcoin. 440 00:24:16,240 --> 00:24:18,840 Yeah. And you know, what gives me a 441 00:24:18,840 --> 00:24:22,160 little bit of hope too is also if you see the breakdown between 442 00:24:22,160 --> 00:24:25,640 who holds Bitcoin, even though you hear all this news about the 443 00:24:25,640 --> 00:24:30,480 institutions and BlackRock and strategy and they're just 444 00:24:30,480 --> 00:24:33,280 acquiring all this Bitcoin, this still the vast majority of 445 00:24:33,280 --> 00:24:35,840 Bitcoin is held by individuals basically. 446 00:24:36,080 --> 00:24:37,520 We don't know. No, no. 447 00:24:38,240 --> 00:24:41,480 And you, as I said, you can't prove ownership of a Bitcoin 448 00:24:41,520 --> 00:24:44,520 because you at that score, you cannot really own them. 449 00:24:44,520 --> 00:24:49,440 You can just act as if you did. So it's impossible to know who 450 00:24:49,440 --> 00:24:50,440 owns what. So. 451 00:24:50,880 --> 00:24:53,880 And that's a good thing. Yeah, So man, as we. 452 00:24:53,880 --> 00:24:57,680 Head into this next decade, right and hyper bitcoinization 453 00:24:57,680 --> 00:24:59,800 is starting. I think it's accelerating in my 454 00:24:59,800 --> 00:25:01,600 opinion. You know, in the United States 455 00:25:01,600 --> 00:25:04,160 you had the the victory of the first pro Bitcoin 456 00:25:04,160 --> 00:25:06,160 administration. Even though he's had a little 457 00:25:06,160 --> 00:25:09,720 bit of a, you know, was, it wasn't perfect, but it was 458 00:25:09,720 --> 00:25:12,960 definitely better than Operation 2.2 point. 459 00:25:12,960 --> 00:25:16,040 Oh, I'm going to like push back on that a bit because like 460 00:25:16,040 --> 00:25:19,880 what's better for Bitcoin, a pro Bitcoin politician or an anti 461 00:25:19,880 --> 00:25:22,240 Bitcoin politician? And I don't think this is a 462 00:25:22,560 --> 00:25:26,360 there's a straight answer to that because if if the 463 00:25:26,360 --> 00:25:29,360 government can dictate what a notice and what you can do with 464 00:25:29,360 --> 00:25:32,440 it, then it's it's not permission less anymore. 465 00:25:32,440 --> 00:25:35,400 Yeah, so, so, so I'm conflicted about this. 466 00:25:35,440 --> 00:25:38,360 And yeah, we got the crony scammer instead of the 467 00:25:38,360 --> 00:25:40,240 communist. And the crony scammer is better 468 00:25:40,240 --> 00:25:44,080 than the communist. But it's the it's like choosing 469 00:25:44,080 --> 00:25:47,120 between, you know, cancer and the common cold, I guess. 470 00:25:47,120 --> 00:25:52,000 And I'll take the common cold. I think it's a great way of 471 00:25:52,000 --> 00:25:54,640 explaining it. Anyways, Canoe, we are getting 472 00:25:54,640 --> 00:25:57,560 to the top of the hour and I want to ask you this, 100 years 473 00:25:57,560 --> 00:26:00,520 from now, 500 years from now, 1000 years from now, how do you 474 00:26:00,520 --> 00:26:02,240 want to be remembered? What do you want your legacy to 475 00:26:02,240 --> 00:26:04,080 be? I I don't care too much about 476 00:26:04,080 --> 00:26:06,640 that. I I try to live in the now and 477 00:26:06,960 --> 00:26:09,960 whilst having a low pro time preference which are not 478 00:26:10,360 --> 00:26:13,400 mutually exclusive I think, but it can be hard to square 479 00:26:13,400 --> 00:26:15,960 sometimes. But I try to enjoy the moment 480 00:26:15,960 --> 00:26:19,280 and go with the flow and say yes to like this. 481 00:26:19,400 --> 00:26:23,000 You can just do things. It's very just do things, right. 482 00:26:23,000 --> 00:26:25,680 You could just do things, you know, record a podcast. 483 00:26:25,680 --> 00:26:26,400 Yeah. Like and I. 484 00:26:26,400 --> 00:26:30,080 Have to I remind myself everyone once in a while that you can 485 00:26:30,080 --> 00:26:33,400 also just not do things because I'm not very good at that. 486 00:26:34,480 --> 00:26:36,400 So man, where can people find your books? 487 00:26:36,520 --> 00:26:39,680 Bitcoininfinity.com, That's where we accept sets for the 488 00:26:39,680 --> 00:26:42,760 books if you want to use shitty Fiat to get rid of it. 489 00:26:42,760 --> 00:26:45,600 They're also available on Amazon and Audible and all of that. 490 00:26:45,600 --> 00:26:48,800 And yeah, look up the Bitcoin Infinity Show and the Bitcoin 491 00:26:48,800 --> 00:26:51,440 Infinity Academy. And to make sure I don't fuck it 492 00:26:51,440 --> 00:26:54,280 up again, could you actually name them? 493 00:26:54,280 --> 00:26:56,720 One is called the Sovereign. Sovereignty through Mathematics 494 00:26:56,720 --> 00:27:00,240 is the first one, and I wrote that in my bedroom and I went 495 00:27:00,280 --> 00:27:05,360 with a with 50 books in a suitcase to a conference in Riga 496 00:27:05,360 --> 00:27:09,120 in 2019. And nowadays that book is 497 00:27:09,120 --> 00:27:12,960 recommended on hope.com. Strategies Bitcoin website is 498 00:27:12,960 --> 00:27:16,200 one of the first five books that would have ever put up there. 499 00:27:16,240 --> 00:27:18,760 The second one is called Bitcoin Independence Reimagined. 500 00:27:18,760 --> 00:27:21,360 It's my least the famous one, I guess. 501 00:27:21,480 --> 00:27:23,840 The third one is Bitcoin everything divided by 21 502 00:27:23,840 --> 00:27:27,160 million. The 1st 4th one about Bitcoin is 503 00:27:27,280 --> 00:27:30,200 a Bitcoin inverse of Clown World Co written by Luke Dwolf. 504 00:27:30,360 --> 00:27:34,320 And then there's the praxeology, The invisible hand that feeds 505 00:27:34,320 --> 00:27:38,200 you, which is my attempt at condensing Mises into 200 pages. 506 00:27:38,480 --> 00:27:40,600 Absolutely. Knuts Fanholm, thank you so much 507 00:27:40,600 --> 00:27:41,800 for joining me. Thank you, Uncle I. 508 00:27:41,880 --> 00:27:43,480 Appreciate it. Thank you, Uncle Knut.