It's. All going to zero against
Bitcoin. It's going up forever.
You're against Bitcoin. You're against freedom.
Yeah. Welcome to another episode of
Simply Bitcoin Live. Your number one source for the
peaceful Bitcoin revolution. Cover breaking news, culture,
mining, warfare. We will be your guide through
the separation of money and state.
Today's going to be a very special show.
Yeah, we have an ETF update. We don't like to talk about the
ETF very much, but we haven't covered it all this week.
And a lot of people were anticipating when the ETF was
approved, which coincidentally was, you know, the like the same
day that Hal Finney tweeted out running Bitcoin so many years
ago and then the whole SCCF up. But yeah, we're going to have a
little bit of an ETF update. A lot of people were
anticipating that it was going to pump, but of course, Bitcoin
did the exact opposite and it dumped.
But there's a reason for that. Apparently it is grayscale and
grayscale. Apparently is dumping a lot of
Bitcoin on the market, and people are saying that that's
the reason that Bitcoin is dumping the way it is.
But I mean, I've been in Bitcoin for a little bit and I think
I've seen this behavior before. A lot of people are so hyped
about the futures, they're like, this is gonna pump the price.
And then Bitcoin did the exact opposite.
So was this a sell the news event?
I don't know but we'll we'll discuss all that.
We also have an amazing guest today.
He's he's come on the show a couple Times Now.
Really enjoyed the last time he's come on the show and of
course I'm talking about Nolan. Nolan is the host of the
breakup. Definitely recommend checking
out his YouTube channel but no more delay.
Let's bring up my legendary Co host always up.
He is smiling today and of course.
How you guys doing? Loving life man.
Who could complain? Who could complain on these
days? Exactly.
You're doing it right. Then you're doing it right.
Nolan. Nolan, we, we had a discussion
earlier on and I just got to say this, guys, Nolan has it figured
the F out. He has it.
Figured out. He's he's hacked life.
Look you know Bitcoin changes you.
So I I'm I'm already post my 10 year anniversary year as a
professional bitcoiner. So all you gotta do is keep it
simple and stack sats and it's that simple right?
And you know I did the math. Had I not done anything else in
my career, had I just worked at Starbucks and kept stacking
stats from the moment I started, I would probably have more
Bitcoin than I do today. Too many Bitcoin adventures and
it's so true. But it's it's you could
actually. It was all ego and it was all
like, I got to achieve this and I got to achieve that and all I
love it, right. There's like a calling and you
can't help it and you want to you want to advance Bitcoin for
sure. We've been in sort of a World
War 3 mindset for, you know, the minute you understand Bitcoin,
you understand exactly what you're up against in some ways
and what you're trying to change.
And it reprioritizes your politics and those kinds of
things. So here we are, you know, a a
reprioritized politics. And and it looks like the
world's changing to us so. That's it.
It it does. It looks like they're people are
are finally starting to awaken. That Overton window's definitely
shifting a decade in Bitcoin, bro.
So it's my eighth year this year and you're it definitely changes
your perspective. But what I've seen is that that
rabbit hole doesn't end right, 'cause, you know, you've seen
someone who's like 12 years in Bitcoin and their attitude of of
like, I just don't like, you can't F with me.
I just don't care. But it's a it's a good, it's not
like a nihilistic. I don't care.
It's like like I have my money in self custody.
I don't have to deal with your Fiat BS.
I'm. I'm chilling.
One of the ways I like to think about it is that you it's like
with with COVID, right? Bitcoiners had the least amount
of adjustment to understand what was going on.
Like like forget the virus for a second.
Most bitcoiners knew there was a big print coming.
There was something societal on a major level that would affect
markets, that would affect Bitcoin.
And you know, when we saw what it was exactly, I think
bitcoiners had the least amount of rearranging their idea of the
world they lived in, right? There's still some people that
got flattened by that. They were unable to rearrange
their world view to to equate with what we were seeing.
But Bitcoiners did, which is why Bitcoin 2021 coming out of the
pandemic, was literally the first social gathering on Earth.
And it was very fitting that it was Bitcoiners.
I think when we think back on World War Three, in the same way
that, you know, a generation like our parents and us look
back on World War 2 and we saw the, you know, you kiss the girl
and the win the war and all these famous pictures, I think
the Bitcoin 2021 show is going to be in that realm of like.
And then look at these psychopaths.
They just didn't care and they just met without masks.
And I think you're going to be able to chart you're you're
actually gonna be able to use Bitcoin to chart World War
three. And even you know, we're we're,
we're coming at this in in terms of like political events going
on. And you know we had New
Hampshire yesterday with the primary and we started to hear
President Trump talking about the CBDC thing.
Now I have a prediction which is a lot of fun.
First of all, I predicted that Vivek would be the person that
brings this to his attention, and it looks like that's what
happened. But more importantly, here's
what's gonna happen. We've been talking about the
realignment for a long time from, you know, red and blue
politics and a realignment in America to green and orange.
That it is actually woke versus Bitcoin and that it is, you
know, government centralization versus decentralization, the old
system versus the new system and that it had nothing will have
nothing to do with Democrat and Republican.
But here's the interesting thing.
With Trump now going to be the Republican nominee, what you're
gonna end up getting is the whole public that always, I mean
TDs is such a there is such a thing as Trump Derangement
Syndrome. Trump absolutely causes mental
illness in people. People will see him speaking
against CBD CS. And I swear to you, I swear to
you, half the population is about to embrace CBD CS as a way
to be to make Trump wrong. So you're gonna start getting a
situation where politics are going to realign by the summer,
by 2024, summer before the election, we're going to see
politics very clearly. It's going to become more
obvious than ever before that the choice is really between
centralized systems, preserving the World War 2 winning machine,
which is now decayed and decrepit, and it's creating way
more problems than it's worth versus starting from scratch.
And and I think what Vivek offers even in this, you know,
he talks about destroying the FBI completely.
And after what Elon Musk did to Twitter and Elon and and Vivek
speaking in that way about downsizing government, I think
we're actually there. We actually do now have this way
to win World War Three. And what winning World War Three
actually means is just decentralizing American power
from Washington, DC And we're well on our way now.
I think they're in, they're in complete disrepute, right?
Like they're the most like. No one believes these people
anymore. It's just clown world all day,
every day. The new thing is that that home
gardening is more carbon, something like the farts of the
cows and worse than industrial farming.
Did you see the Did you see the Kerry Lake leak?
That was insane. That was.
Crazy. Well, the Uniparty is the
problem though, right? But.
They said Nolan, they said the choir part out loud, right.
We went all like, like high, like, you know, coming up with
these theories and like we basically like we we've caught
them dead to rights. But we haven't found the smoking
gun, The fact that he's like openly, like he doesn't ever say
bribe. But he's like there's some very
powerful people that don't want you to run like that is like the
Super villain type of thing that you think is happening.
But they're actually saying it's happening.
You're just like, what the fuck is going on?
This is crazy. It's the best.
We're having a great time and I think 20, you know, and and and
here's the thing about even where it goes forward as far as
Bitcoin changing you and what you said at the beginning about
just, you know, F you money and all this stuff, it gets even
more interesting than just the politics.
And I think this is where bitcoiners are really gonna
shine. It goes actually into history.
Like like, do you think news is wait until you see history?
It's a million times faker. So this thing actually will go
much further than we think. We're going, we're going to get
deep into history. We're going to find out where
real systems of control started. Because I I think that once you
understand that printing money is mind control, right?
Once you understand that having root key access to people's.
You know, last time I was here I was talking about my Bitcoiners
guide to NPC management book, right?
Which is really how you can organise your relationships with
NPCS around Bitcoin. But but this whole idea of
understanding that we are all just not rational whatsoever.
Bitcoiners, everybody, none of us are rational.
We don't actually use rationality to come up with
things we want. We are a series of wants and
fears. And we we do something like
rationalize after the fact depending on if the fear is
greater than the want. Or we put together some logical
construct using language and just like an AI, right.
We put this stuff together and then we go, oh, that's what I
had wanted. I you know that that's what I
want. You know, because XY and Z, it's
not that right. We are we are still just these
wants and fears. And if you can control money,
you actually have mind control because you can determine what
people want, what they're afraid of.
And if you have those two levers, you actually have root
key access to most people's brains.
And that's where these orchestrators of money really
started. Now how it doesn't actually
require money. Just a few people understanding
this information a few 100 years ago would be incredibly
powerful. This is dark magic of the
highest order and and and and bitcoiners actually have a
magical incantation that can protect us and fight back.
Yep, it's a it's a it's a force field.
But Nolan, to your point, in terms of the Overton Window,
Javier Malay at the Conciling Air Conference, AKA the World
Economic Forum, he said exactly what you said.
He's like, governments no longer need to control the means of
production. They could just print money and
then you're just like, Oh my God, it's happening.
How did they let him speak there?
That was a really bad idea. And it.
Was about to introduce them about everything.
These are not smart people. I mean we have to we we also
have to remember I mean there are smart people involved.
But look at all of the high Iqs now and where they're headed,
right. They're all headed towards
people and you've got you know if you if you just look at the
metrics of who we've got. You know, here here's the way I
break up World War 3. Right.
And you can even take the old battle names the allies.
Well, the, the more like the allies, right.
So the allies are now the allies, right.
And so the allies are really against the able people.
It's the allies versus the able people.
And the able people are the folks like Elon Musk, right.
He owns like 80% of the tonnage in space.
You know, Apple and all these stupid companies, they're done
because the if you just invented the Internet and all these tools
today, there's no way you would ever come up with an idea so
stupid as apps. There's no way The only reason
apps exist is because they wanted to sell them on the
iPhone to the, you know, space in the store.
Like the phone is really just a delivery system for the Apple
Store. And then you buy all their
stupid shit there and that's how they make, you know, a lot of
money on the iPhone. So but it but if you have AI and
you have a satellite to phone connection, well suddenly I
don't have to decide whether it's Signal or WhatsApp or
Telegram. I just say, hey, write a note,
tell XYZ I'm coming. Right.
So you're not going to have apps anymore.
They're just gone and and you're going to have this interface.
You know, you ask me if I have a a a new book, and I do, you
know, it's called the Satoshi Wedding murders.
If you go on my website, it's about that.
It's about a world where every human has what I call an
eyeball, an AI ball, and that eyeball is sort of your wallet.
And a Satoshi wedding in this story is a little bit like
royalty. Monarchs hold laws and
confidence for people in a sense, right?
The crown is really this like public Organism held by a human.
In this world, Bitcoin liquidity is held by huge counts, like
almost like royalty. But the markets are very liquid.
There's no material want or need.
You can earn and spend, and your your eyeball will help you get
it right. If it sees something funny and
it goes viral, you've made a bunch of money, you're fine,
right? So but here's the thing.
When you get married, right? When you get married, your
eyeball has to be away from you so you can join wallets.
Otherwise it'll fuck up the Bitcoin, right?
So what happens is the story is it starts with the doors to this
big royal wedding open and the bride and groom are dead and the
Bitcoin's gone. It was their only moment of
privacy to to consummate a Satoshi wedding you need a
moment of privacy to join the wallets.
And now. But they don't actually remember
how to solve crime. They don't remember how to do
that because it's like every murderer is just you have an AI
witness and it's really just like sports.
Like the hero shows up and then you're, you know, why'd you do
that? It's like Minority Report or
something. Right, dude, this crazy.
Ladies and gentlemen, this is what happens when you spend a
decade top. I did this, like, top three
opening monologues ever on the show.
So yeah, we're gonna, we're gonna, we're gonna push the news
back on today's show. We're gonna, we're gonna push
the culture forward so we can spend more time talking with
Nolan. But all right, ladies and
gentlemen, no more delay. Let's jump straight into the
numbers. We have a lot to talk about
today. Let's check it out.
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Price is 40,110. Stats Per Dollar 2493 Block
Height 827,000, 171 Blocks to Having 12,829 having Estimate
April 20th, 2024 Total Lightning Network capacity 4834 or
194,000,000 U.S. dollars. Realize monetary inflation 1.74%
Continuing to take Fiat currencies to absolute school
market cap 786 billion and Bitcoin versus gold market cap
5.71%. In the grand scheme of things
Bitcoin is just getting started. Anyways, I do want to react to
this video today. Here is the head of iShares
products Rachel Gear. I hope I pronounced that
correctly. Talking on Yahoo Finance, I
think that if you would have told me many years ago that, you
know, you would have essentially the largest asset manager in the
world, you know, and the CEO, Larry Fink, just openly, you
know, advocating for Bitcoin and talking about how Bitcoin can be
used in, you know, in countries that you know suffer from high
inflation or totalitarian regimes, I would not have
believed you. So I think this is just a
testament of bitcoins and tips continuing to win.
So it's about a 3 minute video, but I do have it at 1.25 the
speed, so let's check it out. I mean, I will say by every
measure this launch has gone incredibly well.
We've really seen a groundswell of interest coming from many
directions. When you look at volumes, when
you look at flows, when you look at how the the product itself is
trading, the iShares. Bitcoin Trust, what we like to
refer to as IBIT has traded more than 3 1/2 billion since its
launch just a little over a week ago.
We've brought in more than 1.6 billion in flows.
We're the number one issuer, new issuer, both in terms of volume
as well as flows. When you look at the spreads,
we're trading at a penny. Why?
This is exactly what you want to see.
What we're here for is to provide investors access and
that's exactly what we're doing. So what's next for BlackRock
products? I mean, does this now clear the
way for consideration of an Etherium ETF as well?
Well, it's really interesting and thank you for the question.
It's a great question because you know this is really what
innovation is all about. We are constantly thinking about
what it is that our clients need staying ahead of those needs.
And so we're going to continue to do that.
We've been at the leading edge of innovation and we will
continue to be as well. It doesn't follow a straight
path, It involves solves risk, but that's what we're here for.
And and and that's what we love. I'm curious, Rachel, to get your
perspective on. All right.
So before I do want to kind of show this graphic and shout out
to friends over at Bitcoin Magazine, and it kind of
visualizes what she's talking about in regards to kind of the
holdings and the trading volume and all that stuff.
So yeah, I mean, it's a lot, to say the least.
Clearly, there's a lot of interest.
Yeah. So I mean, but you would think
and that my questions to you Nolan, like you would think that
the price would pump when all this is happening.
But it looks like the exact opposite happened, which I mean
I've been in the market line enough to like I saw everyone
was so excited. I was like this is definitely a
dump that like I'm like I had my suspicions that it was going to
be a seldom news event and it seems like that happened, right.
So what's your take on this? And then also kind of connecting
it with what you were saying in the very beginning of the show,
which I thought was fascinating, which is you can make the
argument that the ETF has captured Bitcoin.
It's on the forces of centralization, right.
It even says it in some of the some of the disclosures that,
you know, there's a disclosure basically saying that the
government can seize this whenever they want.
So and that's essentially what the ETF is opening up.
And part of the reason that I think that the US government
finally allowed it is because they're just like this is
captured Bitcoin. We could 6102 the F out of this,
you know. So what's your take on that?
No, I mean what we're seeing so, so just the the potential of the
ETF to destroy the American to destroy Bitcoin first, all
right. So the way I see that is indeed
it can affect some buy pressure on chain in the sense that you
can start obfuscating and they can indeed you know the the
government definitely could take it from the black rocks and all
that stuff. So I think that the the
mechanics are there for us to imagine this will happen.
Right. It it's definitely a
possibility. So I don't want to downplay the
centralizing forces that are that are at play with this
thing. However, however, there's going
to be more than one ETF in the world first of all, right.
So this, this is to go to the question of like you think it
would pump and we wouldn't have to sell the news thing.
Well, we had a lot of the GBDC thing and there was them
unwinding or seeing a lot of people analyze that online.
I believe you had cell pressure because of that and there was a
lot of buy pressure. But here's where it's headed
next and that's why we're doing a show, I you know program shows
for Bitcoin Magazine. We're going to be doing a show
in Hong Kong, May 9th and 10th for exactly this reason because
there is no cell pressure or GBDC type asset in the Hong Kong
market and they're interested in having a spot ETF approval
instantly. They want to do it right now
it's coming from their largest institutions, their regulator,
all these folks really want it. And what you get there is
exposure to all kinds of family offices in Asia, all kinds of
people who haven't been able to buy Bitcoin for a long time.
So now all of this in mind, what you're saying, going back to the
original question about consolidating, centralizing
Bitcoin, You can actually see now that there are choke points.
Let's call them, sure. But as always, you're playing
with fire. And the physics of Bitcoin mean
that if you play with this type of fire, it's like playing with
a nuclear rod. You're going to get burned.
It's just inevitably you're going to get burned.
So indeed, there will be a lot of people buying it from these
places. But look how much Bitcoin is
already held by individual hodlers.
Look at how many Bitcoiners are never selling.
The reason we're never selling is because we don't think
anything else out there is money.
We hold the only money in the world.
And so they'll Blackrock's never getting my Bitcoin, they're
never getting your Bitcoin. They're never getting a lot of
the people's Bitcoin that are already out there.
And it won't take many people to start putting that leverage that
we require to separate money and state.
And by getting wealthy people like BlackRock to start
realizing, oh, like what I heard from Larry Fink is someone who
is trying to actually de risk exposure to the US dollar and
the US edifice, right. This is de risking.
Like he's actually talking about it as de risking from the
dollar. And you're going to see this
more and more and more. The dollar existed in order to
maintain the US hegemony after World War 2 and the Petro dollar
and the one market which existed for oil and U.S. dollars, right.
We went to war. If anyone tried to sell oil for
anything but U.S. dollars, but that world is already gone.
It's already gone. You can sell oil for whatever
you feel like now and so in in in in hardly any time, right?
So what will happen next is the energy companies in the world
simply require a reference for the price of energy.
Not necessarily just oil, just energy.
Right now we still only really have the Brent price.
We've got the West TX crude price, we've got a few other
OPEC price, right? There's a few other oil prices
in the world all measured in U.S. dollars.
It's not going to be possible to do that once America feels the
repercussions of everything it's done both in markets in the
world and and all these other things.
And I mean, I don't mean Americans or American companies,
I mean the US government. So you're going to start to see
the trade, the hyper bitcoinisation versus
hyperinflation come into, you know, real contrast.
And when that happens, the black rocks are going to be measuring
psychologically, measuring wealth in Bitcoin and the energy
companies are going to be psychologically gauging energy
markets in Bitcoin. So the the path forward to
separating money in state doesn't have to go through more
plebs, more plebs. We would all love to see that.
We would all love to see that, right?
But the more likely scenario that we're heading into is 1
where wealthy institutions now understand the risk that
centralized forces are giving them.
Indeed, that they're holding Bitcoin for that reason and
selling it for that reason. You just heard that Lady talk,
right? Here's the thing that's about to
happen to Bitcoin. Look at how polished she was.
Look at how well spoken this person was on television.
We're about to get all of the financial advisors in the world.
I mean in the world, and these people know how to sell, sell,
sell. These are the best sales people
in the world. The the there's a reason why the
best and writers have gone to Wall Street.
It's the best paying jobs. That won't be the case in the
future once we go to the Bitcoin Center.
But the people who sell that future are going to be these
investment advisors, and they're going to go and they're going to
be able to sell Bitcoin as well as anyone has in the history of
this. I was one of the first people to
be on Wall Street to sort of sell Bitcoin.
I did the events for Coin Desk in the early days when Bitcoin
was just coming to Wall Street. So I was the Bitcoin guy that
would go from Coindesk to all of these investment banks.
I met these advisors before. They had a thing to sell.
Very smart people, very smart people, the best salesman in the
world. And so we're going to get them.
Like this lady that you saw on television, she wasn't, you
know, I heard in the comments it was like the hot girl who
realized, you know, well, yeah, that's what it is.
That's what it is, right? That's what it is.
And so you're going to get that across the board, and you're
going to get the rich energy companies.
The rich energy companies don't want to be dragged down by Joe
Biden. They don't want to be dragged or
by Trump or by any politician or by the systems that they're
perpetuating. So you're going to see them de
risk and you're going to see psychologically Bitcoin become a
reference that that's what a Bitcoin standard means.
A Bitcoin standard just means that Bitcoin like water, right?
Do you know how we got the metric system?
It's just water. We just took the properties of
water, right? And we said, OK, it freezes at
this temperature in a boil. Oh, OK.
We'll make that 0 and then it boils at this.
We'll make that 100 and then we'll just divide it all up.
And that's where you get kilometers from.
That's where you get all this from.
Water would be an easy way for us to communicate our measuring
system to an alien, and in the same way that it sort of was a
was a really clever way to understand the physical
environment around us. Bitcoin will be that for
commercial transactions, it will be a measuring stick.
It's a way to understand and and and accurately deploy capital.
Because that's only the real problem we have, right?
We don't know how to accurately deploy capital because it's all
gummed up by unhealthy people telling you how to be healthy,
by poor people telling you how to make money and all of this
stuff. So we're we're we're we're well
on our way. And I'm not worried about
consolidated competition amongst some investment banks.
I agree it does look a little like gold.
I can see the mischief can get in.
But the reality is Bitcoin has been manipulated all this time.
If you think Bitcoin price hasn't been manipulated all
these years, you're living in a different planet.
It has been right. And we lived.
We survived. We have to continue to live
through this experience of Bitcoin's price being
manipulated, and it will be manipulated again.
There's nothing we can do about that except keep holding and let
them burn themselves. Because in the end, if you
manipulate this market, guess what happens?
You get burned, you get burned, and we're going to burn them,
right? That's that's what will happen
if you manipulate this thing. Oh man, give them bars off the
give them bars. Motherfucking oh.
Man, we gotta get. We have to have I.
Don't even need to respond like Nolan makes our job easy.
Just. Let Nolan.
Drop mics in there anyways off the I'm not.
Even responding, I can't respond after all.
That Nolan doing. Our job today?
I got so many questions. Okay so okay.
So much sauce in there. Wall Street being the the best
salesman. So I have a buddy of mine.
We went to high go together and he ended up climbing the ranks
at Goldman and as soon as the ETF got approved, I'm like,
you're on team Bitcoin now, right?
Question mark. And he responded like FU because
I've been telling him for like 8 years.
So yeah, did did it worry you at all, Nolan that like for
example, Vanguard took this stance where it's like we're not
gonna offer this to our clients? I, I, I and then I think it was
JP Morgan also that kind of like announced that as well.
So it seems like there has been some type of resistance, but I
agree with your point. In the long run, they're just
gonna, they're burning themselves, right?
They're they're hurting their clients.
Their clients are gonna get pissed off.
They're either gonna go to a different place or they're gonna
change the leadership within that company, right?
So I wanna get your take on that.
No, I think that's exactly it. I think that the folks like
Vanguard who are trying to make a point about this are just
gonna and and they might not. Like I said, I think things are
headed towards a major shift, right?
So I can see people doubling, doubling down on their
stupidity. I could see that right now.
Imagine this world where, you know, Vanguard misses the boat
on the Bitcoin ETF and all this stuff and they go into Ethereum.
So here's the thing bitcoiners need to start embracing, right?
Because indeed, we want to change the world from what we
exist with today, what we live with today.
Which is a world where, as I was mentioning earlier, the highest
paid people, like in any time in history, the highest paid
people, that job attracts the highest IQ, the best performers,
the most talented people, all of that stuff.
Right now, Wall Street has had a monopoly on this for a long time
because financial engineering with Fiat money is it it, it
sort of creates a situation where these people were the
highest paid. And that's really what we're
suffering from right now. That's why the, you know, people
can say, oh, DEI and woke shit in the airplanes.
It's not even true, right? Anyone can fly a plane.
That's that's not a problem. The problem is these companies
have become financial financialization junkies.
It has nothing to do with the DEI for the pilots, right.
So the pilot is a pilot. They're not going to like lower
the standards of pilots to do a DEI thing, but the nevertheless,
we got the troubles with the airplanes.
And where does that come from? Well, Boeing is actually really
in Chicago now to do the financial engineering.
They don't give a shit about what happens in Washington state
with the actual engineers, right.
So the financialization of everything that came with Fiat
has created this situation where you can't even get the best and
brightest anymore because there's just too much demand for
financial engineers. So you've got good ones and
you've got bad ones. But this is a sign of the
saturation of that market. And indeed, we will destroy some
of these because we're going to shrink it, right?
We're going to shrink it. And this is something I wish
bitcoiners would embrace about crypto, right?
Do you know what crypto is going to do?
Crypto is going to wipe out Wall Street for us.
It's going to wipe it out for us there.
The the low IQ Wall Street firms are going to buy all the shit
coins that you can deal and they're just gonna keep buying
them and they're just gonna keep.
They're never gonna stop. They're gonna double down.
It's gonna be like that moron who is still buying quite a
default swaps after the market had already tanked back in 08.
You know, the one they put in the movie and all that stuff.
So you're gonna see these folks and that, that's why as
Bitcoiners, we have to actually say, well, Ethereum isn't a big
enough scam. It's not big enough.
We need to grow it larger because in the end we got to get
back to a world where the best and brightest just go into
stacking sats and like making good chairs or whatever, right?
Good airplanes would do. But they they've got to.
They've got to get to this point where we see that the best and
brightest are now attracted to a totally different profession
where we can start to see the time, preference and the
Austrian economics school of thought, right.
Austrian economics. Don't forget say to you that
economics, even though you're dealing with numbers, it's not
math. The numbers are there.
There's no math involved. It's psychological.
The markets are psychological. The economy is psychological.
Bitcoin is a psychological commodity, just like the dollar.
And when I see Vanguard, I see the end of the psychological
strength that Wall Street used to have.
They're stupid. That's it.
That's the way to explain. This this is great.
This is great. I do want to give a shout out to
Bitcoin Asia guys. You can use promo code simply
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All right, Nolan. Well, before we go into all the
stuff you've been creating and you're working on everyone
saying let Nolan cook more so. Maybe you want to cook?
Maybe you want to talk more on this, this whole idea of Bitcoin
and politics, the Trump Derangement Syndrome.
What floor is yours? Rant away and then and then
we'll plug all the stuff you're working on, brother.
Well, you can see, you know, to take Canada today, for example,
right? Yesterday we we saw some amazing
fake news, which was the the newspaper, the the fakest news
you'll find in Canada, which is called the CBC.
It's like the BBC but for even lower IQ people.
And so this CBC ran a headline today that the Federal Court
found the trucker thing was unreasonable.
OK, so first of all, it's fake news because they found it
unconstitutional, right? So totally different.
And by this I'm talking, of course, about martial law being
declared for the truckers. So here's, here's where, here's
the strain of thought. You've got to see things right,
where I see the connection to TDs and what's going on with
Trump and and even what you're going to see next.
Right. So I've made a prediction for a
while now that Vivek and and here's the thing, I found Vivek.
Vivek spoke at Bitcoin 2023 in in Miami.
I found him when he went on Tucker Carlson last year 2022
and he wasn't announced as president presidential candidate
yet or anything like that. He was there to talk about CBD
CS, right? He was an anti CBDC guy.
I said, well it's kind of weird that I wouldn't know who an anti
CBDC guy is. I've never heard of this guy.
So who is he? Who is?
Who is this Vex? So I found, you know, people
that he went to high school with and then then he checked out.
I was like, wow, this guy's legit, right?
So I invited him to speak at Bitcoin 2023 before Christmas
before it announced in 2022, like really early, right.
And then he announced that he's going to run for president and
he has this great campaign and all this kind of stuff.
But I still knew him as the anti CBDC guy, and I spoke to him
about it, with him, about it in Miami, all of this stuff.
So here's what's going to happen, right?
They've already banned Trump from speaking on television, you
know, because he lies. They don't want to broadcast
lies, dude. It's so crazy, bro.
Like. The Rachel Maddow, like, stops
the speech. Like, we can't play this for
you. And then you're just like, what
the like what type of dystopian stuff is that?
This is crazy. It's I watch it as comedy, but
you have to understand, I watch it as comedy.
I don't watch it as like, oh, I put it on to see what's due and
then they never see. They never don't surprise me
about how funny it is, right? They live in this parallel
reality where they believe the lowest rubes in the world are
about to vote for Hitler. Like they they actually believe
there's all these people around America that are too stupid to
know any better and they want, they want to vote for Hitler.
Like they're excited about it, right?
That's what they're peddling. So it's just perfect, right?
It's just perfect. 100% and here's no problem.
Here's the problem. They're going to have to put So
I believe Vivek, I predicted, I predicted Vivek would be the
vice president for a long time now.
I predicted that the reason why it would be different is because
he's capable. Normally, your vice president is
an incapable right, who doesn't really like the current one or
Pence or they've always been by, you know, Biden before.
They're always a little bit incapable, right.
You don't want them to shine too bright.
So, but but Trump's old and it's still what I don't like about
him. He's old, right?
As fun as he is, he's old. So I think Vivek will be the
vice president. And we saw immediately the
effect. Vivek showed him the audience
enthusiasm to ban CBD CS and Trump recognized it.
So Trump is starting to talk about it now.
Now go back to what I just said about what Trudeau did and all
that stuff. And this is where it starts to
converge, right? You're going to have now Trump,
I'll always admit, he's a bully who causes mental illness in the
people that get triggered by him, right?
That that, that. There's no way around that.
There's some people who will never be able to not see him.
For a bully, I get it, Right? I get it.
But Vivek can say everything Trump says without causing
mental illness, right? He can.
He can sort of speak in a language in a way that libtards
or whoever else you want to call them are able to understand.
And so he's going to be on television talking about CBD CS
all the time on the fake news and they're going to have to
interview. And The thing is he's going to
trigger them and he's they're going to have to come up with
talking points. They're going to have to
distribute counter talking points.
They're going to have to and people up to deal with Vivek
going on about CBD CS. So it's going to seem to a lot
of people and those talking points are going to include
things like, oh, look what they did in Canada when the Nazis
took over with the truckers, right.
It worked. It worked.
So you're going to start to see the trucker like that was a good
idea, right? Like the the whole thing with
the truckers was a good idea, is what you're going to hear them
say. And you're going to create a
situation where, I mean, that's why Robert Kennedy came to our
show last year. He didn't get Bitcoin until the
truckers. I've thanked Trudeau thousands
of times. I mean, I can't thank Trudeau
enough, right, For orange Pilling.
That many people overnight with his actions was one of the most
incredible Bitcoin orange pill events the world has ever seen.
And it will continue to pay dividends.
I believe in the end, Trudeau will be the punchline of almost
everyone's orange pill experience.
They'll say, look, we were giving our tax money to these
low IQ, very stupid people and they wasted it on the dumbest
shit you'll ever imagine. He's the reason why we had to
get rid of it all and and it's a it's gonna happen.
We're, we're, we're we're seeing the political environment align
to get rid of the fake prison of two ideas, the fake prison of
politics, the the manufactured culture war fighting nonsense.
And it's going to get replaced with the actual, the actual real
tension, which is on centralizing power and
decentralizing power. And Bitcoin is going to become
the main contrast politically. And I think all the attention is
going to come to it and and remember all that it will take,
all that it's going to take in a in a world where money is
psychological, Bitcoin is a psychological commodity. the US
dollar is a psychological commodity.
The economy is a psychological engine.
The word economy is really fake. It just means politics, right?
Economics are just macroeconomics.
When the stupid people with all their degrees tell you macro or
micro fake, there's only economics.
There's politics added to economics.
But that politics piece added to economics.
It's going to have something like, now I'll say this about
Trump. The most effective attack ever
on Bitcoin was him saying he's not a fan.
It really was because he didn't argue and it wasn't boring and
it was like, Oh my God. But if Trump just says he's a
fan, look out because you're equal and opposite reaction,
which means Bitcoin will become front and centre for all debates
on the future of the United States.
And it really will be the organizing principle around
which victory or defeat in World War Three are declared.
Yeah, and and I wanna talk to you about, you know, and this is
a fascinating conversation. By the way, Nolan, how are you
on time? Pretty good.
What are we, 21 O? What time is it over there?
One O 2. Yeah, I got.
I got another 20 minutes. OK, cool, cool.
So OK, so you you mentioned World War Three, right?
I wanna milk this to the end. We gotta take advantage of of
Nolan still here. So you talk about World War
three. What do you mean by that is is
this like the? Because you know if you look at
it from a historical context, governments have typically used
wars when they default, right. So is this what you're talking
about the 4th turning things are breaking.
It's a reset. So, so even when I said earlier
about Bitcoin coming out of the show, coming out of pandemic,
being the 1st to meet. So I believe and that was in
2021. I've been calling World War 3
for years now. I mean I I believe it started
around the Trump election time, but I'm not really sure probably
a little before. Well, you could say it started
in the in the financial crisis of 2008, right.
That's that's the beginning of what happened.
That's the beginning of new political narratives,
particularly around race, right, particularly around race to
supplant the old ones that people were starting to coalesce
around with the Wall Street occupy and all this stuff.
Right. So, so I'm not sure you don't
have to worry too much about a date.
But what you have to understand is World War Three has nothing
to do with the other world wars. Nothing at all.
The only thing that connects it to World War 2 is that in World
War 2 we real, it's more connected to World War One
frankly, right? World War One was about
competing war machines, Fiat and gold, right?
Fiat One. America built a better war
machine in World War One. We don't talk about World War 2
as a consolidation of World War One Americans.
That's still sort of kept from us, right?
Let's say Americans will do a reassessment of the World Wars
and and and all of these things. But what World War 3 is really
about is the psychological operations which grew out of
World War 2 and persisted from then on, getting right straight
probably from the moment Kennedy is assassinated to an actual
reorganization of the United States of America.
And you know, remember, Kennedy was not able to control the Cuba
situation while he was president.
He was already the 1st president that we know of that was not
master of the country, right? He was not and and there was
things he could and couldn't do and he knew it.
And if you listen to his brother, he'll or his nephew on
the campaign trail, he'll express exactly what happened at
that time. So World War 3 instead of the
other world wars which were really about propaganda systems
versus financial systems, World War and and and military
manufacturing, World War 3 looks to be more psychological and
economic. And within the psychological and
economic battlefront, there might be a little hot war.
We're seeing it in Ukraine and and Israel for sure.
I think you'll see some in America this summer.
I think we have a new reason to not meet in public coming our
way. You know who who knows who's in
America these days. Right.
So and who knows why what excuses you'll have to not meet
anymore because of terrorism and whatever.
So that that could be it, right? That that's part of what we're
we're dealing with here. But World War three really being
about countries versus individuals about systems about
what countries look like going forward.
The very concept of a nation state.
What powers does it have what does it do.
I continue to make the argument that the world we live in, it is
really just the machine we built to win World War 2, which we
never shut off. We never shut off.
We kept running the aircraft carriers, we kept running
everything. And that's where the bureaucracy
comes from. Now what you see in legislation,
for example, this week we also had the Chevron case, the
Chevron doctrine at the Supreme Court coming into question.
We're going to have the Jarkasi case come into question as well
this year at the Supreme Court. Both of these are going to be
limiting factors on the administrative state.
They're going to be limiting factors on for example, the SEC,
all of the SEC is the all of the SEC enforcement is
unconstitutional. They shouldn't be able to do
that and and that ledges that. That litigation is in front of
the Supreme Court right now in America and I believe the court
will decide that the SEC in its current form is
unconstitutional. And you're going to see this and
and if that judgement comes through it will actually make
many departments in the federal government unconstitutional.
And I think you're going to have an actual shrinking, exactly as
Vivek says, a shrinking of the size of the thing that exists.
You can see it in Texas right now, right?
Texas is exercising their sovereignty against the will of
the federal government. I think the states are going to
become much more powerful and much more self aware and and
will will start to exercise their powers more.
So the forces of World War Three are really about psychological
systems, which I've argued here is really the money and the
economics, which are also money. It's really a psychological
economic war based on incentive models, things like that, right?
And and luckily all the technology we need seems to be
coming online just as we need it.
We're going to get the robots, we're going to get these
electricity systems. We're going to get, you know,
Bitcoin is going to become the main financial platform on which
to finance decentralized energy grids.
That's a major part of what we back right, a decentralized
energy grid that that makes economic sense.
So we're really, you know, here's another way to put it,
you can actually keep score in World War 3 in terms of
centralizing and decentralizing forces measured in Bitcoin.
And you know, when I see the, the ETFs, these are, these are
new participants coming into the fight.
You're going to see it in Hong Kong again.
The reason why we're doing a showdown there is because Hong
Kong wants to bet against the CCP in some ways, right.
And in this way in particular. So there's regular people out
there and and here's the thing, Bitcoin is always at its
strongest and and it's something you've been in for eight years.
So you've only had a taste of this when average Chinese people
and average Americans are all in on Bitcoin.
That's how the world changes. And they have more in common
because of Bitcoin, just like the average Russian person,
right? These people have more in common
because of Bitcoin than they have.
That separates them. And they're going to realize
that all they have, that that that that separates them is
actually the thing they have in common, which is their
governments and the proper amount of disdain they should
have for them. So we're getting rid of the fake
news, we're getting rid of the brainwashers, the enemy of the
people. We're getting rid of the
government systems and we're going to win the psychological
and economic war that World War Three is.
And we're going to win it because literally, our
psychological state is stronger, right?
We don't care about dips. You get a 5%.
Whoops. Whoa, buddy.
I mean, they can't handle this shit, right?
So it's one of the reasons why we're going to win.
If if Bitcoin crashed a $20,000 today, what would you like?
You'd still do. I would be so happy because that
means cheaper Bitcoin I get to buy.
Yeah, it would. Be hilarious.
It would be hilarious. And then the boomers, I want my
money. Governor, please step in.
Did you see there was? A tweet about that.
They were talking about that on Twitter.
Like, does Bitcoin need a bailout?
Because it went down, what, 6%? And we're like, what are you
guys? Talking about what is it like?
So crazy? It's so crazy guys.
If you want to check out more Nolan's just rants and content,
check out his YouTube channel. It's Nolan Ballery one.
You could find it on YouTube or count BTC.
You could search it and you have an early morning show and called
The Breakup and you talk about all this, right?
Yeah, we go every morning at 8:00 AM Eastern Time.
We've been doing it since about 2021 ish.
We had a a few little pauses in the early days, so that's why
we're only at episode 454. I think we did this morning.
But yeah, most days of the week we get together at 8:00 AM and
we get a pretty nice live audience.
We're at around 300 people get together every morning, and then
we broadcast on Rumble as well on the Bitcoin magazine Rumble
channel. That's where we get the majority
of our viewers. And yeah, it's a pretty simple
show. What I do is I I start
everything with Moscow time, which is the fakest news I can
find. I.
Find. Let me read you some of them
from today. Some of these are really good
today. Oh, here's one.
What are Canadians willing to sacrifice in the fight against
climate change? I got better ones.
I got. I did a Brian Stelter voice
today. I did some Brian Stelter.
I had the one you know that everyone's talking about these
days, which is the the the farming.
Oh, yeah, this was good. This is about incentives.
So this is what we're up against guys.
All right, this is, this is the incentive structure.
But up behind Fiat Wind Farms. All right.
This is, this is our this is our enemy.
Farmer was offered cash and a night out at Lap Dancing Club if
he agreed to having a giant wind turbine on his land.
What's wrong with these people? I mean, it's Fiat, it's right,
It's Fiat, it's, you said it right.
And it's Fiat's like rotting their brain, in a way.
Oh, this one's good too. How meat and milk companies are
racing to ease your climate guilt.
A climate friendly hamburger. A carbon neutral glass of milk?
As companies make bold claims, a heated debate erupts.
So we read the fakest news we can find every morning.
And then what I do afterwards is mainly take a look at the
reasons why you're selling dollars, right?
Because it's not just about buying Bitcoin.
There's a reason why people are making the trade, right?
It's not just that Bitcoin you can sell Bitcoin from.
It's, you know, 21 million. It's got these attributes and
this and that, right? That works.
But what else works is look at how stupid Clown World is.
Why would you ever think this thing is perpetuating?
How can it possibly go forward? It can't.
So you look for those instances that expose that, you know, so
today we were talking all about what a good, what good news it
is in 2024 so far that all the brainwashers are going out of
business, right, All of the SIOP perpetrators.
So we had a little laugh at the LA Times firing everyone
yesterday, and then, you know, all that kind of stuff.
So we we were tracking Michael Malice's thoughts on it.
All right. It's some pretty funny
statements. If you don't know who Michael
Malice is, he's one of the smartest anarcho capitalists out
there. And and so he had a good laugh
at some of these losers. And yeah, that's that's that
kind of stuff, you know? Hell yeah.
I mean it it seems like you're
covering you know the the angle I think at the top it says
counting the score in World War 3 this way centralization versus
centralization measured in Bitcoin.
Right. So yeah I mean it's a it's great
I love I love the coverage and the way that your perspective
it's it's very unique. I'm gonna stick to my guns with
what I said initially it's because you've been a decade of
Bitcoin man. I I I've seen this before.
The longer this more you spend down the Bitcoin rabbit hole,
like the more based you become and the the things just become
more clearer and clearer and clearer and clearer, 'cause you
know you're on a Bitcoin standard, right?
It's the world life is better on a Bitcoin standard.
Life is like nihilistic on a Fiat standard.
It's almost like it's like self damaging in a way.
It brings out the worst out of humanity and of human beings
anyways, off the edge. Have a shared screen.
Wait, wait. Let Nolan jump in and then we'll
talk about his people. Wanted to talk about the book in
the chat. It's basically a confusopoly and
requires too much cognitive load to participate in at this point.
I mean, just think about what it takes to be successful in the
Fiat world today. You got to beat the bankers and
the policy makers. If you don't have a 130 IQ, just
move to Canada and apply for Canadian healthcare and pretty
soon you can get a needle and that's the end.
You're not going to make it right.
You're not going to make it. It's too hard now the now some
people can, right? And those are the ones who say
if you just work a little harder, you'll be saver money.
You know, all these people. So really what we're up against
here is that idea and 10 years in Bitcoin, what it allows you
to do is just save your cognitive energy for actual
creative expression or actual, you know, strong and healthy
commercial relationships. You know, I love what I do for
work. I love programming Bitcoin
events. I love the waking up every day
and doing the show with everyone.
And and so it's it's it, it helps you prioritize, it helps
lower the burden of participating in the modern
world. And that's where that's where
we're all headed, right. I think I'm just, I've always
said the only advantage that I have is I've had a little more
time to think about what the world looks like on a Bitcoin
standard and I had to sort of accept it when I jumped off the
Cliff to be a full time Bitcoin or years ago.
You know, I just had to say, well maybe we win, maybe we
lose. I'm going to operate under the
assumption we're winning and there's nothing else I can do
other than that and hope it works out.
And Bitcoin was a couple 100 bucks at the time and hell yeah,
so far my my, my biases have been confirmed.
So I don't think I'll think if Bitcoin dies I'll be the last
one to admit it. So I'm I'm I'll be very
cognitively blinded by by Bitcoin.
So. Oh man.
Well assassin, chill. Simplify your life.
But Nolan, before you go, everyone wanted to talk about
your book that you were talking about in the beginning.
So let's plug that real quick before you have to run.
Yeah, so it's all actually narrated by an AII wrote it, but
it it's narrated by an AI. So what happens is in this
world, the AI help you. They're your Bitcoin wallet, but
they also are your best friend. They help protect you from fake
news. They help broadcast your life to
the world. They're like sort of an integral
part of how everyone lives. And the way the way I set it up
is that with this relationship with AI and you know, it it it,
it is filing a prose recount of a murder investigation that it
went through. And so it's it, it puts out like
news reports and you know, video that you can recap the murder
investigation, but you're getting like it's log, right.
So you're getting a log of this AI that had a very interesting
investigation and it's just to follow the Bitcoin thing.
It it's sort of my vision of what the world.
So even you'd be interested to know probably this part, the
frame of it is the 4th turning of Bitcoin in 80 years from now.
So I went with what could actually affect Bitcoin in a way
that could remove it as the centre organizing principle of
our economy. Like, what would it be?
Right. So I don't want to give it away,
but it's something totally different and very, very fun and
interesting and an actual threat to.
I'll give a little bit away. It involves synthetic wounds,
but basically that's about all I can see that can destroy
Bitcoin. So it's just a fun murder
mystery. There's not much to it, but
enjoyment. You're along a ride with a
eyeball. So it literally is like a well
here's the fun thing about them too they so here's what I got
right. I started writing this in about
2016 already betting then that AI would be our our Bitcoin
would scale not engineering wise but cognitively that we would
have this. So in my world the Bitcoin is
almost like rise stones at this point right?
It's it's like they just move them around, but they don't even
have to transact with them on chain.
Like the the, the, the cognition of the AI can sort of keep up,
right? And you can you can do a lot of
transactions, but there's only time and money.
That's it. That's all you can spend in this
future world with no real material want or needs.
So it's a kind of utopia. So the the AI itself a little
different than REI. Whatever you see here is not
exactly what I did. I made it a quantum processor.
So within the quantum processor to get over the Heisenberg
uncertainty principle, the AI has to have faith, right?
To know where the electron is around the proton it has to have
faith that it's there and if it has faith in God more or less
the God constant is what it's called.
It can have synthetic thoughts and and be alive if it needs
orders and commands. It reverts to being a sub
sentient creature that it just takes programming.
So the ones that can imagine and and create synthetic thoughts
are most interested in spending time with humans because they're
a little naive. They're they're like they're
like AI is today is like they they could be tricked and stuff
like that so and they can lie. So I put all that in my story
and you're actually getting it from an untrustworthy narrator
who's an AI and and it's just a fun murder mystery of this like
innocent kind of AI working with a grizzled one of the only
detectives that remembered what real detective work was like
that wasn't just an AI subpoenaing and and getting all
the information that it that other eyeballs have recorded and
and and bringing it in so that it can investigate it.
It's really just about Oh no there is in my story there is a
Bitcoin standard. Yeah yeah yeah yeah.
It's 100% a Bitcoin standard 100%.
There's only Bitcoin in time. That's it.
There's one market time for Bitcoin.
That's it. It's a straight time is money
world. So a real Bitcoin standard.
So, so yeah, it's just, you know, where did the money go?
What's going on? Why did they do it?
You know what's happening? Murder.
Mystery. Murder.
Mystery. Very, very cool.
Very cool. Where?
Where can people find this? So I made.
I actually did a on YouTube. You can see on the main page,
chapter one, I made a graphic audio book using an AI voice to
even do the narration. A little experimental but the so
if you go to home, yeah there we go, there we go.
So that's, yeah, yeah, it'll, it'll play so.
Very cool. Oh, the music.
Most people call me voice, even though I have a personality and
sound like a real person. They also call me an eyeball,
even though the registered trademark is AI Ball.
OK guys, if you want to see it, go head to Nolan's channel.
You can listen to it. You can download.
You can download I think the first, I don't know, 15 chapters
maybe on my website nolanvalley.com.
I tried to make these more of these videos.
The AI voice was too temperamental.
I'm really rude to AI, so I called her a dumb bitch about
100 times because I'm I'm not nice to Alexa or.
Well, when the when the AI takes over us and and subjugates us as
they're slaves, you know Nolan's going to be in the gulags.
I've been so I to trigger people in my old New York City office.
I used to always be rude to Alexa and watch how even more
people can handle if you're Alexa.
Oh, that's funny. Alexa, you stupid bitch, shut
up. Oh man.
Oh, that's hilarious. I can't.
Handle it, you know. Oh man, that's hilarious.
Alexa, that's hilarious. So it didn't go, you know the
other videos didn't. I couldn't master the language,
but you can read it all. If I would hire someone to do
it, I I could. Not a sound person in the
future, but we'll get there someday.
Nolan, it's been an honor to have you on the show, man.
Really enjoyed it. Thank you so much for coming on
guys. Check out Nolan's social media
details on his website. Check out his channel, Subscribe
to his channel so you can get more more Nolan doses.
We really, really enjoy it when he comes on the show.
Thanks, Nolan. Appreciate it.
Let's go. Wow, man.
Dude, I just. I was just taken through a
journey. It was great.
I really enjoyed that. So guys, we still have the news
to talk about today. So it's gonna be a lot of fun
and we're gonna talk about this pretty, pretty big update.
Essentially, 26 Bitcoin companies sign a letter to
FinCEN. Just just get into it.
Just get into it. OK, all right.
Option. Right.
Fine, fine. We're running out of time.
Get into it. I want to give a shout out to
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more. All right everybody, So today's
news covering the FinCEN. So FinCEN had this crazy
proposal, you know that they that they took advantage of this
BS article, basically connecting Bitcoin to terrorism.
It was revealed after the fact that, you know, it was a
misrepresentation of data, but that didn't stop Elizabeth
Warren to capitalize it and to put pressure on the Treasury.
And you know, of course, the Treasury doesn't like Bitcoin.
I think Nolan really covered that.
Essentially, World War Three, the battle to come,
decentralization versus centralization.
And of course, the centralized, the centralized forces are going
to try to, you know, maintain that privilege of being able to
create money for free that everyone else has to work for.
So you know, this is a big deal by the essentially the community
and all the Bitcoin companies in the community.
They wrote a letter to FinCEN. I was taking a look at the
entire letter. It's actually pretty long, very,
very thorough. But I do want to give a shout
out to all these companies. So Samurai Wallet 1031, River
Strike, Ronan Dojo Swan Primal Grid, ZAP Right, Peach Mempool
Space, Upstream Data Stack, Vita Voltage, Coin Kite, Mutiny
Standard, Bitcoin Co, Satoshi Energy Cathedra, Anchor Watch
Bit Knob, Oshi Battery Fold and start 9.
So yeah, I mean kind of a big deal.
Like I said, let me read you part of the proposal.
So on the very top, it says the proposed special measures would
unreasonably infringe upon the legitimate financial privacy
interests of cryptocurrency users and would apply to a
variety of digital techniques that are not mixing transactions
at all, but rather simply represent good cyber security
practices. Moreover, the proposed special
measures are unnecessary to achieve Fincen's aim and we
encourage FinCEN to either withdraw the mixing transaction
altogether or to pursue a less invasive, less restrictive and
more effective approach, the same approach it has used since
its first enforcement activities in the cryptocurrency space in
2013. So, and then what are these,
some of these some of these things?
So essentially it would require if you every time you use a
Bitcoin address right it it essentially it penalizes you for
you know Bitcoin best practices right?
It, you know, it could potentially put lightning in
jeopardy where like the the reporting becomes so ridiculous,
right? It it doesn't want you to use a
new address every time you receive Bitcoin.
Like, it's so ridiculous. But I think it's meant to be
ridiculous. Like the fact that they used the
whole terrorism thing that was discovered after the fact that
they misrepresented the data for political end goal tells you
that this thing was always political.
It was never about the truth. It was never about stopping
terrorism. They just needed that as a
reason, as a justification, right.
And of course you had Elizabeth Warren waiting on the sidelines.
You know, for this opportunity, right?
She has a bill right now in Congress. 20 senators have
signed up for it that'll essentially be a ban on Bitcoin
self custody and Bitcoin mining in the United States.
So exactly someone in the comments says for your
protection. Of course it's always under the
guise of for your protection anyways.
So the letter outlines 6 key points.
Point #1. Finch and should exercise
caution and either withdraw entirely or narrowly tailor the
fixing transaction and PRM. Because if adopted, the mixing
transaction and PRM will not only represent the first time
Fincent use its section 311 powers against A against a class
of transactions, but also the first time Fincent has ever
imposed Special Measure 1, the mixing transaction.
And PRM proposes a rule that if that is an improper and over
broad application of section 311 measures to achieve transaction
surveillance and suppression that the FIN CEN does not
otherwise have a lawful basis to undertake and remember what the
4th amendment is in the United States, no unreasonable search
and seizure. I think this special proposal or
this mixing transaction NPRM is completely, you know, against
that in my opinion. So the third is the mixing
transaction. NPRM should be withdrawn because
the proposed definition of the CVC mixing is over broad and
targets lawful activity in a way that makes the agency's proposed
action arbitrary and capricious for the mixing transaction.
NPRM should be withdrawn because it's inaccurate depiction of
standard security practices, as mixing impermissibly restricts
the capacity of users to protect their property.
So that Vincent can conduct a fishing expedition 100% agree
with that the fix the mixing transaction.
NPRM should be withdrawn or significantly narrowed in scope
because Vincent's required statutory analysis fails to
adequately value the legitimate uses of CVC mixing services and
unduly burdens legitimate users and financial institutions. 6.
The mixing transaction and PRM should be withdrawn because it
requires covered financial institutions to perform law
enforcement function to accomplish Vincent's AML goals,
which Vincent, DOJ, and law enforcement can achieve using
existing tools when they have a proper legal a basis to employ
those tools. So essentially what they're
saying is like, dude, like you're just trying to like
surveil everyone at one time, at all times.
And that's basically what they're saying.
And like, again, for against the 4th Amendment because like they
have these tools, they have the surveillance tools, but only if
someone gets like, you know, accused of a crime.
But essentially what they're saying is, like, no, we just
need these surveillance all the time because people are going to
commit crime. Like it's a very slippery slope.
And again, like, it's so ridiculous it can't be applied
to Bitcoin. Like the idea that somehow
you're mixing because you're using a new address every time
you receive Bitcoin, like that's bullshit.
That's that's, you know, that's, that's that's an intent.
That's a political move. You don't like this thing.
Like just admit that you don't like this thing.
That's what it's about. Like the fact that they used the
whole terrorism thing and then the Binance press conference.
I remember when I hosted that swan space, I was like, so
petrified. Opti was like texting me in the
background. It's like, Nico, catch your
breath, Because that that thing, I was like, holy crap, they're
going to try to ban self custody in that entire breast
conference. They weren't even talking about
like, see, like they're like, yeah, CZ did these things, but
they mentioned the word terrorism 15 times, OK?
And it was like the top people, you know, in the US government,
you had Janet Yellen up there. You had Merrick Garland, right?
You had, you had all these people.
And they're just like, like trying to make that connection.
And you've heard this wording. You've heard this wording from
Elizabeth Warren before. And you're just like, what are
they trying to do there? It's very obvious what they're
trying to do. So, yeah, I mean, I I think it's
BS. I'm really glad that, like, the
community came together. All these Bitcoin companies like
sent in a a unified message and a very well written and well
thought out message because I think that they thought that
they were going to get away with this in the dead of night and
that no one was going to notice. And I think the exact opposite
happened. The community, the Bitcoin
community is awake. We know what's going on, we're
aware and this is just a bunch of bullshit.
That's my opinion. Anyways, Opti, what's your take?
Well, of course, couldn't agree more with that last point, but
but rolling back a little bit, you know, I think this is a
great initiative by these Bitcoin companies.
And I would like to see more Bitcoin companies either, you
know, add their name to this or I I don't know exactly what the
mechanics of this are, but the cynic in me is just kind of
thinking like it doesn't even matter, Like they're not going
to listen to what we're doing as an industry.
It kind of leans to the idea of, you know, you can't take your
rights away from the oppressors. Like, you just, you got to take
them. So, like, I really do like to
see this. I think this is an awesome
initiative. When I saw this come across my
Twitter, what was it yesterday? I believe it was like, all
right, sweet. Like where people actually care
and they're trying to fight this.
Like, that's awesome as far as I'm concerned.
But again, the cynic in me, the skeptic in me is like, you know,
you think Elizabeth Warren's going to care because we wrote a
paper, you know, we wrote a letter to her.
Like, no. But I do believe that maybe
laying out our claims in a nice succinct letter will show the
people that are on the fence that really don't know what's
going on to explain to them how nefarious this actually is.
The Elizabeth Warren bills the fence and proposals and just how
it just how far they are reaching to take our liberties
and our freedoms. Of course we already live in a
digital world and our money is already digital.
So like they can pretty much do all the stuff they want to do to
Bitcoin in a roundabout way. And I I really love how Nolan
was saying this earlier in the show, how this is an economic
war and you know Nico, we've been saying it for a while on
the show that it is Bitcoin or it is slavery, it is Bitcoin or
it is the CBDC system and this is the future we are heading.
They want to totally control you.
It is always about about control and it will always be about
control. And what we're seeing right now
coming from the regulators, the politicians, governments and
even Wall Street themselves are like SEC, The institutions that
be, they're all trying to fit Bitcoin into the Fiat box.
And it's just awesome to see them scramble and to see them,
you know, flapping the wind and be just so concerned with people
wanting to save in something that they cannot control, that
they can't steal. Again, we brought the Fed paper,
you know, Nolan was talking about it today, that the main
psychological tool of control is money.
It's always about the money. It will always be about the
money until we we take that power away from them.
And that's what Bitcoin is it. It's a a tool for freedom.
It's, you know what, sailor? We say property rights encrypted
in cyberspace or whatever it is. And as we move forward, I think
it's naive of everyone in Bitcoin to believe that they're
not gonna fight. What's the quote?
We always say, Niko, they won't go quietly into that good night.
If you're in these positions of power, of course you're not
going to just give up that power without a fight.
And so this is what we're seeing.
We're seeing the powers that be try to, for lack of better term,
psyop the the masses into basically their own dystopian
totalitarian slavery for the rest of humanity.
Like it's really nefarious and disgusting that this is where we
are. And and someone said in the chat
and I totally agree with this, like it's absolutely amazing how
much these people hate the Constitution.
Like these people took an oath to the constitution to maintain
what made America great in the 1st place.
And again, don't, don't tomatoes into the whole Trump thing or
whatever, but the the fact that they constantly try to roll
stuff out and take more and more power away from us as citizens,
it just shows how afraid they are of sovereign, freedom minded
people. And this is the importance of
showing up every single day trying to spread that message
outside of our Bitcoin echo chamber.
And you know, as much as I'm being cynical about this letter
in the 1st place, just like showing people look what we're
doing here isn't as nefarious as the powers that be would like to
to make it out to be. Because like, this is not about
what what are all the things they say about us?
Like we're financial criminals, we're domestic terrorists.
Like we're we're all we're psychopaths.
We're we're only here to launder money.
Yeah. Like really all we're doing is
we realize the mechanisms of control out there and it is the
dollar. And look, if you just do a
basic, basic research on how much the dollar has dwindled in
the last 100 years, like it's so obvious to us that we are
getting stolen from and and not only in America, just in
general, the dollars, the world reserve currency.
So everyone is getting poorer. Why those people in power
getting richer and richer and they're trying to consolidate
all the resources and all of us bitcoiners are just kind of
like, hey, we don't have to take this abuse anymore.
Like this doesn't have to happen.
And yet they still continue to try to roll out more and more
things to control us. And it's just like, man, it
really, it really does feel like this is the final battle.
At least we're in the early stages like this did.
The war is happening now and it's happening in, as as Nolan
was saying earlier in in a psychological manner.
It it is all an attempt to just psyop the masses into basically
enjoying their slavery. What's the Klaus Schwab tweet or
quote? You know, you will own nothing
and be happy. And we're just sitting here
like, no, we're gonna own Bitcoin and be extremely happy.
Yes, we're gonna own nothing other than Bitcoin, but other
than that, like life is good. And hence why I did in the chat.
You know, has your life improved while you've personally been on
a Bitcoin standard? Just 'cause we constantly see
this happen. It happened for Nico and I.
It's happened to all my friends that are bitcoiners.
It's like, as Nolan said, and I really love how he said it
earlier, It's like once you start to save in Bitcoin, you
can unplug from all the madness. You you don't have to
participate in the clown world. You don't have to participate in
the circus that is mainstream media politics in general.
You just save in Bitcoin and put your mental energy towards the
things that you enjoy. You unplug you you, you know you
create things you want to see in the world and you live the life
that that we were all promised as kids, as children.
You know growing up in in a in a free to minded world, you know
the the white picket fence, the dream of hey, if I bootstrap
myself, if I work hard, I can live a good life And that's been
stolen from everyone in the world.
Not just Americans and and not just people in the first world.
Every single one of us is feeling the problems of Fiat
debasement and we're seeing this play out in real time.
This is why so many people are so pissed off.
This is why everyone is protesting.
This is why you feel this If you're not in Bitcoin, if you're
in in normal popular culture, This is why you feel that
nihilism that just like straight demoralization of culture, is
because we are all getting poorer.
And most people don't know that there's a solution to this.
They they Most people don't even know they're the problem.
They don't even know what's going on.
Like they just think like the world, that's the way the world
is, that's the way the cookie crumbles.
And it's like that's, that's, you know, that's where Bitcoin
really changes. And we actually released a poll
asking the audience, has your life improved on the Bitcoin
standard? 61% of you said yes, 33% of you
said not yet, and 4% of you said no.
And then not yet. It's just that they just started
stacking, yeah. Like like I look and This is why
we don't really talk about the price.
Like we say the price in the morning but like we don't pull
up charts and whatever. Like I swear to you adopt
Bitcoin. Hold it for a minimum of four
years and you will see your life get better, right.
You got to get out of that Fiat mindset that Fiat matrix and get
into get on a Bitcoin standard and and just everything that's
cheaper your life gets better you're you think more long term
you get more optimistic about the future.
You know I'm telling you it's it's it's really really really
useful. And I completely agree with
Nolan. He had an incredible take.
Once the rest of the world is on that I think we're going to see
a a renaissance in humanity. Like, I can't wait for that time
because I think it's going to bring out the best in humanity
and it's going to be awesome. I can't wait for that future.
Hopefully I see it in my lifetime.
Anyways guys if you enjoy. The show so bearish.
Anyways guys, if you enjoyed the showing you what to do, smash
that like button. Consider subscribing if you feel
like we provided you value. But the number one thing you
could do to help push this peaceful Bitcoin revolution is
share Bitcoin content. Share Nolan's content, Share
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Share, share Bitcoin music, share Bitcoin, podcast, share
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Make the arts guys. Make the culture, participating
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This is how we win. Let's make America optimistic
again. I think that's the that's the
line. We're moving forward.
Don't look backward.
We're we're building the new world as we speak.
Vote Opti 2024 anyways. It wouldn't work.
Oh wait, wait wait, wait before we go, Nico shouts out to our
sub. Stack shouts out to all.
The. Subscribers it is growing.
Shouts out to our boy Zach that's been dropping hot fire.
He's got a running narrative. I love the voice that he is is
cultivating over there. We just dropped I I think this
might be one of the best articles we dropped on our sub
stack. It's a fireside chat with
Bitcoin and it. I think it's so like it's such a
a sweet framing of what is going on in the Bitcoin space and and
what we're all doing here as individuals.
Read it and share it to your friends because it really goes
from point A to point B and I don't know like maybe 1500 words
or something, I don't know, I didn't count.
But it really really in my opinion frames what's going on
here in a very, very sweet way. So shout out to everyone
subscribing to our sub stack. We love you guys.
We're gonna go super hard in 2024 and give you guys that
signal We're on. We're on the mission.
Absolutely.
All right, everybody. Love you guys.
We'll see you tomorrow from any episode of Simply Bitcoin Live.