1 00:00:00,040 --> 00:00:03,600 While everyone is distracted with what the US is doing with 2 00:00:03,600 --> 00:00:07,560 Bitcoin, a massive Middle Eastern giant might have just 3 00:00:07,560 --> 00:00:11,920 went all in on Bitcoin. A government sponsored bank in 4 00:00:11,920 --> 00:00:16,239 the UAE just announced they are opening Bitcoin trading for all 5 00:00:16,239 --> 00:00:18,800 its clients. If you're not paying attention, 6 00:00:19,000 --> 00:00:23,640 you really need to be this Bitcoin bull run could be unlike 7 00:00:23,640 --> 00:00:28,000 anything we've ever seen before. Let's get into this guys. 8 00:00:28,000 --> 00:00:29,280 And of course I'm not alone here. 9 00:00:29,280 --> 00:00:33,440 I got what what do I always say your your neighbor neighbor 10 00:00:33,720 --> 00:00:36,320 favorite neighborly friendly bitcoiner. 11 00:00:36,320 --> 00:00:38,880 I, I butchered that one today. Anyways, we got Chris Alamo 12 00:00:38,880 --> 00:00:41,160 here, one of our good friends. What's up, dude? 13 00:00:41,280 --> 00:00:43,640 All right, guys, let's get into the headlines. 14 00:00:43,640 --> 00:00:47,720 So as you guys know, the game theater around Bitcoin is 15 00:00:47,720 --> 00:00:52,240 getting kicked into OverDrive. And now it's not just happening 16 00:00:52,240 --> 00:00:56,040 in the USI think since Trump came out and said they are going 17 00:00:56,040 --> 00:00:59,200 to make the US the Bitcoin superpower of the world, 18 00:00:59,520 --> 00:01:03,760 everyone one is scrambling to position themselves to also 19 00:01:03,760 --> 00:01:07,520 compete with Bitcoin and make sure they don't get left behind. 20 00:01:07,520 --> 00:01:11,720 So the big news for today, Rockbank becomes the first UAE 21 00:01:11,720 --> 00:01:14,480 bank to offer crypto trading for retail. 22 00:01:14,760 --> 00:01:18,000 And Rankbank becomes the first traditional bank in the United 23 00:01:18,000 --> 00:01:21,920 Arab Emirates to enable crypto trading for retail users through 24 00:01:21,920 --> 00:01:25,440 its mobile app powered by Bitpanda, which is a big 25 00:01:25,480 --> 00:01:28,720 European exchange. Now the real interesting part 26 00:01:28,720 --> 00:01:34,640 about this is RAC Bank is a state government owned bank. 27 00:01:34,640 --> 00:01:37,840 So this isn't just like in the US, you know, you see a bank 28 00:01:37,840 --> 00:01:40,520 they they kind of announce, hey, you know, Trump's going into 29 00:01:40,520 --> 00:01:42,680 Bitcoin. We got to also go into Bitcoin. 30 00:01:42,680 --> 00:01:44,360 No, this is backed by the government. 31 00:01:44,360 --> 00:01:48,360 So the National Bank of Ras Al Kamal, forgive me. 32 00:01:48,360 --> 00:01:51,000 RAC Bank, a government owned bank in the United Arab 33 00:01:51,000 --> 00:01:53,600 Emirates, is the first conventional bank in the country 34 00:01:53,600 --> 00:01:57,520 to offer retail crypto trading. In a Tuesday news release, the 35 00:01:57,520 --> 00:02:00,560 bank announced the launch of a crypto broker service through 36 00:02:00,560 --> 00:02:04,440 its mobile banking app, allowing customers to buy, sell and swap 37 00:02:04,440 --> 00:02:08,560 crypto currencies directly from their UAE Durham account. 38 00:02:08,800 --> 00:02:11,560 Quote, We recognize the opportunity this solution will 39 00:02:11,560 --> 00:02:14,960 provide the customers in the UAE as we believe they deserve a 40 00:02:14,960 --> 00:02:17,880 more efficient and seamless crypto buying selling and 41 00:02:17,880 --> 00:02:22,400 swapping journey that is fully regulated and entirely in AED, 42 00:02:22,400 --> 00:02:27,000 which is the local currency Durham's said the CEO Raheel 43 00:02:27,000 --> 00:02:29,760 Ahmed of rock bank. The new offering is powered by 44 00:02:29,760 --> 00:02:34,000 Austria bank based bit Panda with transactions facilitated by 45 00:02:34,000 --> 00:02:38,320 bit Panda broker MENA DMCC going further. 46 00:02:39,200 --> 00:02:43,120 Of course, this is probably super interesting as we've been 47 00:02:43,120 --> 00:02:45,880 covering on the show here for a while. 48 00:02:46,200 --> 00:02:49,600 We're starting to see the trickle, the domino effect of of 49 00:02:49,600 --> 00:02:53,360 countries embracing Bitcoin, of banks embracing Bitcoin, of 50 00:02:53,360 --> 00:02:56,840 sovereign wealth funds embracing Bitcoin and of course of 51 00:02:56,840 --> 00:03:00,440 companies, corporations embracing Bitcoin and, and we 52 00:03:00,440 --> 00:03:03,680 have been hearing some kind of rumors coming out of the Middle 53 00:03:03,680 --> 00:03:06,000 East of countries embracing Bitcoin. 54 00:03:06,200 --> 00:03:09,720 The biggest news was obviously a sovereign wealth fund buying 55 00:03:09,720 --> 00:03:11,480 Bitcoin. It was really through the ETS 56 00:03:11,480 --> 00:03:16,480 and MicroStrategy and now we have the first conventional bank 57 00:03:16,480 --> 00:03:19,960 to embrace Bitcoin. Now what is interesting, of 58 00:03:19,960 --> 00:03:23,720 course, if you're familiar with UAE, United Arab Emirates, it is 59 00:03:23,720 --> 00:03:28,880 made-up of seven Emirates. So Roz al Kamar or Kamai, sorry, 60 00:03:28,880 --> 00:03:33,920 is one of those Emirates here. And of course, they're not the 61 00:03:33,920 --> 00:03:35,560 guy that backs this is not the king. 62 00:03:35,560 --> 00:03:37,160 The king is usually from Abu Dhabi. 63 00:03:37,480 --> 00:03:41,520 But what is interesting is that it is backed by the government. 64 00:03:41,520 --> 00:03:44,680 Now, I know a lot of Bitcoiners out there probably saying, hey, 65 00:03:44,680 --> 00:03:46,760 I thought we were here to separate money from state. 66 00:03:47,000 --> 00:03:49,640 Yes, this is true. But what we're seeing is a 67 00:03:49,680 --> 00:03:53,000 watershed moment where everyone is embracing Bitcoin. 68 00:03:53,000 --> 00:03:57,520 And This is why personally, I think that we are entering into 69 00:03:57,520 --> 00:04:02,240 a new epoch in Bitcoin. Last cycle, 2017 cycle, we 70 00:04:02,240 --> 00:04:05,120 didn't have banks, nation states, literally the biggest 71 00:04:05,120 --> 00:04:07,320 institutions in the world embracing Bitcoin. 72 00:04:07,680 --> 00:04:10,520 And we're all still kind of thinking, or rather maybe we all 73 00:04:10,520 --> 00:04:14,240 still have PTSD based on the last cycle that hey man, we're 74 00:04:14,240 --> 00:04:16,480 going to double top. It's only going to go, you know, 75 00:04:16,480 --> 00:04:18,519 6X. It's going to be diminishing 76 00:04:18,519 --> 00:04:21,800 returns, bro. But the foundation that I'm 77 00:04:21,800 --> 00:04:25,560 seeing here and especially the announcement of the ETFI think 78 00:04:25,560 --> 00:04:30,080 it's fundamentally shifting how we should view the Bitcoin cycle 79 00:04:30,080 --> 00:04:33,040 is moving forward. The main take, most of the 80 00:04:33,040 --> 00:04:36,960 traditional Bitcoin take is a four year cycle, you know, 2025, 81 00:04:37,120 --> 00:04:39,520 which should likely be a parabolic run. 82 00:04:39,960 --> 00:04:42,520 And then we're going to see a 2026 bear market. 83 00:04:42,520 --> 00:04:45,080 And maybe they're adjusting and saying, hey, it's not going to 84 00:04:45,080 --> 00:04:48,600 be 80% bear market. It might only be like a 50% bear 85 00:04:48,600 --> 00:04:50,600 market. But there is interesting news 86 00:04:50,600 --> 00:04:53,480 coming out or rather some interesting data coming out 87 00:04:53,480 --> 00:04:59,840 since since the the ETF dropped, it looks like the structure of 88 00:04:59,880 --> 00:05:03,320 the Bitcoin cycle is fundamentally changing. 89 00:05:03,320 --> 00:05:06,000 And I'll pull that out for you guys in a little bit and we can 90 00:05:06,000 --> 00:05:10,200 chat about that as well. But what is interesting here is 91 00:05:10,200 --> 00:05:14,200 of course there is interest coming out of the Middle East. 92 00:05:14,200 --> 00:05:17,640 There is at least eight large regional banks participating in 93 00:05:17,640 --> 00:05:21,720 quote blockchain platforms used for payments, which indirectly 94 00:05:21,720 --> 00:05:24,400 of course support cryptocurrency infrastructure. 95 00:05:24,680 --> 00:05:28,080 But we haven't seen an official bank, a traditional bank 96 00:05:28,080 --> 00:05:31,280 official, you know, government sponsored state backed bank come 97 00:05:31,280 --> 00:05:34,160 out of the Middle East embracing Bitcoin. 98 00:05:34,440 --> 00:05:37,600 There is also, you know, we've we've heard some news coming out 99 00:05:37,600 --> 00:05:41,920 of Saudi Arabia, Qatar and Bahrain, but nothing really 100 00:05:41,920 --> 00:05:45,200 coming out of the United Arab Emirates yet, though this is 101 00:05:45,200 --> 00:05:49,160 changing in real time. And it just makes me think that 102 00:05:49,160 --> 00:05:51,680 we are kind of entering a different time here. 103 00:05:51,680 --> 00:05:55,840 It does seem like things are changing really quickly on the 104 00:05:55,840 --> 00:05:59,640 more cultural view of Bitcoin. Remember, for a long time it was 105 00:05:59,640 --> 00:06:04,080 basically, you know, a career detriment to embrace Bitcoin. 106 00:06:04,080 --> 00:06:06,640 And now it's the opposite. If you're not embracing Bitcoin, 107 00:06:06,840 --> 00:06:08,480 then you're going to be left in the dust. 108 00:06:08,480 --> 00:06:14,960 Now this bank here, roughly $24 billion in US currency, it's 109 00:06:14,960 --> 00:06:19,200 88.3 billion in the Durham. So it's a big bank. 110 00:06:19,200 --> 00:06:22,520 I think it's the fourth largest bank in United Arab Emirates. 111 00:06:22,520 --> 00:06:26,640 So I think this is one of those moments where maybe a smaller 112 00:06:26,640 --> 00:06:28,400 regional bank, still a huge bank. 113 00:06:28,400 --> 00:06:31,640 It's one of the top 50 banks in the world starts embracing 114 00:06:31,640 --> 00:06:33,400 Bitcoin. And I think this could be one of 115 00:06:33,400 --> 00:06:35,000 those ideas where it's a test bed. 116 00:06:35,400 --> 00:06:38,680 If this does well, if they get a lot of traction, a lot of 117 00:06:38,680 --> 00:06:41,840 liquidity going to them, then I think this will happen very 118 00:06:41,840 --> 00:06:45,040 quickly and we're going to see things start to snowball 119 00:06:45,040 --> 00:06:49,000 extremely fast here. Now, I'm going to pass this over 120 00:06:49,000 --> 00:06:53,640 to Chris real quick before I show you kind of this new view 121 00:06:53,640 --> 00:06:56,400 of maybe the ETFs have fundamentally shifted the 122 00:06:56,400 --> 00:06:59,120 Bitcoin cycle. So Chris, you've been along on 123 00:06:59,120 --> 00:07:01,360 the journey with, I think you've literally been on every show 124 00:07:01,360 --> 00:07:04,480 we've done about the Middle East embracing Bitcoin. 125 00:07:04,840 --> 00:07:06,400 So what's your thoughts on seeing this? 126 00:07:06,400 --> 00:07:10,560 And really on on top of that, also let's emphasize just how 127 00:07:10,560 --> 00:07:13,640 you, whether you love Trump or not, he's fundamentally shifted 128 00:07:13,640 --> 00:07:16,640 the game here and now everyone is taking Bitcoin seriously. 129 00:07:16,640 --> 00:07:18,720 So what's your thoughts upon hearing this news, Chris? 130 00:07:18,840 --> 00:07:20,840 Well, definitely the Overton window has shifted. 131 00:07:20,840 --> 00:07:25,520 I'm just imagining this like young 2324 year old intern being 132 00:07:25,520 --> 00:07:29,200 like, you know, working for this bank and now day trading inside 133 00:07:29,200 --> 00:07:31,320 the bank using bank funds. I'm just just kidding. 134 00:07:31,320 --> 00:07:33,400 Obviously that would probably be illegal, not allowed to do that. 135 00:07:33,400 --> 00:07:36,720 But no, I, I honestly think that the Overton window has greatly 136 00:07:36,720 --> 00:07:39,480 shifted. I think when Trump spoke at 137 00:07:39,480 --> 00:07:43,360 Bitcoin 2024, he basically put the world on notice. 138 00:07:43,360 --> 00:07:46,120 And then obviously winning the presidency, signing an executive 139 00:07:46,120 --> 00:07:49,080 order, a Bitcoin strategic reserve, trying to account for 140 00:07:49,080 --> 00:07:51,320 how much Bitcoin the US government has, which a lot of 141 00:07:51,320 --> 00:07:53,800 people are speculating is way less than we were expecting they 142 00:07:53,800 --> 00:07:56,280 had. But yeah, no, I think it's a 143 00:07:56,280 --> 00:07:58,000 huge deal. And as you were saying, like 144 00:07:58,000 --> 00:08:00,520 this bank, if you want to come back into frame, you're saying 145 00:08:00,520 --> 00:08:03,400 that this bank is one that is kind of in collaboration with 146 00:08:03,400 --> 00:08:06,080 the government. So obviously, so obviously the 147 00:08:06,080 --> 00:08:08,720 UAE and their government are basically, yeah, it may be a 148 00:08:08,720 --> 00:08:11,720 private bank, but basically them and their government officials 149 00:08:11,720 --> 00:08:13,160 are signalling we know about Bitcoin. 150 00:08:13,280 --> 00:08:15,920 We recognize Bitcoin. It's a serious asset and that's 151 00:08:15,920 --> 00:08:18,200 why we're opening it up. I know obviously you and I are 152 00:08:18,200 --> 00:08:20,720 in the boat that, hey, it should be a Bitcoin only bank or a 153 00:08:20,720 --> 00:08:23,040 Bitcoin only play. They're doing crypto play, I 154 00:08:23,040 --> 00:08:24,760 think. I think the way that I view 155 00:08:24,760 --> 00:08:26,920 this, this and Opti, I know that we've talked offline about this, 156 00:08:27,120 --> 00:08:29,680 that basically everyone needs to take their lumps Back in like 157 00:08:29,840 --> 00:08:34,480 the 2015 to 2017 era, there was a lot of people like, you know, 158 00:08:34,480 --> 00:08:36,320 Icos and people day trading other cryptos. 159 00:08:36,320 --> 00:08:38,159 They were kind of getting distracted by all the shiny 160 00:08:38,159 --> 00:08:40,039 objects. I know many legendary Bitcoiners 161 00:08:40,039 --> 00:08:41,960 were in the same way. And then basically right after 162 00:08:41,960 --> 00:08:45,480 the fork wars in 20/17/2018, it was basically like it's Bitcoin 163 00:08:45,480 --> 00:08:47,080 and everything else. And I think that kind of 164 00:08:47,080 --> 00:08:50,360 solidified it for a lot of the people that were in for 2018 and 165 00:08:50,480 --> 00:08:53,640 and before obviously 2020, there was a very strong class of 166 00:08:53,640 --> 00:08:55,600 Bitcoiners then. I consider myself, I'm part of 167 00:08:55,600 --> 00:08:58,360 that class, but a lot of people were learning from the mistakes 168 00:08:58,360 --> 00:09:00,800 of Bitcoiners and people that had come before us. 169 00:09:00,800 --> 00:09:02,240 Like it's Bitcoin and there's everything else. 170 00:09:02,360 --> 00:09:05,480 I think governments and everyone else in that is not familiar 171 00:09:05,480 --> 00:09:08,040 with this industry still says crypto, you know, Oh, we like 172 00:09:08,040 --> 00:09:10,240 the underlying block tame technology. 173 00:09:10,320 --> 00:09:12,520 We really like what Bitcoins offer, but it's not going to be 174 00:09:12,520 --> 00:09:15,160 the best currency in the world. Well, dude, it's called the 175 00:09:15,160 --> 00:09:17,520 leaderboard. And Bitcoin is the 5th largest 176 00:09:17,520 --> 00:09:19,480 asset in the world. It is by far the largest 177 00:09:19,480 --> 00:09:21,480 cryptocurrency. Not even, you know, not even 178 00:09:21,480 --> 00:09:23,160 close. So I just want to say look at 179 00:09:23,160 --> 00:09:25,400 the scoreboard when anyone's telling you otherwise so. 180 00:09:26,000 --> 00:09:28,440 Yeah, no, 100%. I mean, I forget who said, I 181 00:09:28,440 --> 00:09:32,680 think it was actually Mr. Hoddle who first said it is everyone. 182 00:09:32,680 --> 00:09:35,080 Basically there's like there's a journey when you get into 183 00:09:35,080 --> 00:09:39,400 Bitcoin and usually you do a pit stop with shit coins and then 184 00:09:39,400 --> 00:09:42,480 you finally end up at the what we always talk about being 185 00:09:42,480 --> 00:09:45,360 Bitcoin Maxis, Bitcoin only, like all roads lead to Bitcoin 186 00:09:45,360 --> 00:09:48,600 and one of the surest ways to become a Bitcoin maximalist or a 187 00:09:48,600 --> 00:09:52,160 Bitcoin only person is by burning your hand on shit coins. 188 00:09:52,400 --> 00:09:56,560 And could we expect, or rather should, should have we expected 189 00:09:56,760 --> 00:09:59,840 that when nation States and banks come into the space that 190 00:09:59,840 --> 00:10:02,480 they aren't going to kind of take that shit coin pivot right 191 00:10:02,480 --> 00:10:04,640 now. Now, of course they could. 192 00:10:04,640 --> 00:10:08,600 They could just not even be fully ideologically aligned with 193 00:10:08,600 --> 00:10:10,320 any of the shit coins. They're just like, hey, look, 194 00:10:10,320 --> 00:10:13,600 these are the biggest ones. You know, as, as Gary Gensler 195 00:10:13,600 --> 00:10:16,080 was saying for a while, we don't want to pick winners and losers 196 00:10:16,080 --> 00:10:17,960 here. We're just going to open it up 197 00:10:17,960 --> 00:10:19,320 to the top. What do they call them? 198 00:10:19,320 --> 00:10:22,360 Blue chip cryptos? It seems like that's kind of 199 00:10:22,360 --> 00:10:24,440 what they're doing. And of course, people want to 200 00:10:24,440 --> 00:10:25,720 trade this stuff. It's a bank. 201 00:10:25,720 --> 00:10:27,360 They want profits, they want feeds. 202 00:10:27,360 --> 00:10:28,880 They want to make money off of this stuff. 203 00:10:28,880 --> 00:10:33,400 Now I think, oh, oh, oh, OK. Hold on, Hold on, Chris. 204 00:10:33,520 --> 00:10:35,040 I I forgot. I forgot. 205 00:10:35,200 --> 00:10:37,280 To plug this in. I'll feel a Buster while you're 206 00:10:37,280 --> 00:10:38,600 there. Well, I know we all know that 207 00:10:38,600 --> 00:10:41,200 Opti is secretly a Gary Gensler lover. 208 00:10:41,320 --> 00:10:43,800 He thinks he is the ultimate Bitcoin bull. 209 00:10:44,000 --> 00:10:47,480 Obviously, you know, he was talking about how Gary Gensler 210 00:10:47,480 --> 00:10:49,040 was actually protecting everyone. 211 00:10:49,160 --> 00:10:51,080 And, you know, he is actually doing what he said, even though 212 00:10:51,080 --> 00:10:53,120 he's holding back the Bitcoin ETFs. 213 00:10:53,160 --> 00:10:56,720 And I think a lot of Democrats, or at least the liberals and 214 00:10:56,720 --> 00:11:00,280 Democrats from the DNC blame him for why they lost the election 215 00:11:00,280 --> 00:11:03,360 in 2024 to Donald Trump and JD Vance. 216 00:11:04,080 --> 00:11:06,960 You know, obviously. But Opie's like Gary Gensler, 217 00:11:07,160 --> 00:11:10,600 Dr. Daddy Gary was protecting retail investors. 218 00:11:10,760 --> 00:11:12,520 He was doing right by everyone else. 219 00:11:12,920 --> 00:11:14,360 I mean, obviously that's Opie's take. 220 00:11:14,360 --> 00:11:16,960 I don't think that's my take. But obviously with the Trump 221 00:11:16,960 --> 00:11:19,200 administration, when they're laxing regulation for Bitcoin, 222 00:11:19,320 --> 00:11:21,600 they were also doing it for the crypto folks as well. 223 00:11:21,600 --> 00:11:23,760 And I think that's kind of what a lot of people have the problem 224 00:11:23,760 --> 00:11:25,520 with. I know people are brought up. 225 00:11:25,520 --> 00:11:29,160 I mean, Trump launching the meme coin like 4 days or two days 226 00:11:29,160 --> 00:11:31,960 before he's about to take office before inauguration is pretty 227 00:11:31,960 --> 00:11:34,040 crazy. And kind of, you know, basically 228 00:11:34,040 --> 00:11:35,560 I'll call it what it is, a spade, a spade. 229 00:11:35,560 --> 00:11:38,040 Like basically people were buying favor by buying the Trump 230 00:11:38,040 --> 00:11:39,880 coin. You know, Justin's son had an 231 00:11:40,240 --> 00:11:43,000 opportunity to, to sit at the Trump's round table. 232 00:11:43,000 --> 00:11:45,080 I think there was like 25 seats that they were selling. 233 00:11:45,200 --> 00:11:47,360 And basically this is a way to buy direct access with him and 234 00:11:47,360 --> 00:11:49,640 his family. So want to call it money 235 00:11:49,640 --> 00:11:50,920 laundering? Want to call it a bribe? 236 00:11:50,920 --> 00:11:52,640 It is what it is. I'm just calling how I see it. 237 00:11:52,800 --> 00:11:55,280 But maybe Opti was on to something like Gary Gensler was 238 00:11:55,280 --> 00:11:58,400 actually a team Bitcoin and protecting Realtor investors and 239 00:11:58,400 --> 00:12:02,160 everyone else, but I don't know. Well, to be fair, I was actually 240 00:12:02,160 --> 00:12:05,040 kind of trolling when I was going the whole Gary Gensler was 241 00:12:05,040 --> 00:12:07,720 a Bitcoin maximalist. I was kind of using his own 242 00:12:07,720 --> 00:12:10,960 words against him in that in that sense that this is what he 243 00:12:10,960 --> 00:12:13,520 was saying. And then he came out and rather 244 00:12:13,520 --> 00:12:16,840 he got pretty much pushed out of the SEC position. 245 00:12:16,840 --> 00:12:18,560 And he's just like, yeah, it's Bitcoin only. 246 00:12:18,560 --> 00:12:20,560 And I'm like, look, he was a maxi all along. 247 00:12:20,560 --> 00:12:25,320 I was obviously trolling here, but at least that was his 248 00:12:25,320 --> 00:12:28,040 official position, right? It was 2, which protecting 249 00:12:28,040 --> 00:12:30,720 investors. And we don't want to pick 250 00:12:30,720 --> 00:12:34,280 winners and losers. And now in hindsight, you can 251 00:12:34,280 --> 00:12:36,240 make whatever argument you want about it. 252 00:12:36,240 --> 00:12:39,320 It's like, you know, you can pick whatever side of the coin 253 00:12:39,320 --> 00:12:41,960 you want. Was Gary Ginzer good for 254 00:12:41,960 --> 00:12:44,400 Bitcoin? He did allow the ETF even if it 255 00:12:44,400 --> 00:12:46,960 was delayed? Or was he actually fighting 256 00:12:46,960 --> 00:12:49,840 Bitcoin, which is like what all of his Bitcoiners were saying 257 00:12:49,840 --> 00:12:52,000 for a long time. Considering he taught a course 258 00:12:52,000 --> 00:12:55,160 on blockchain at MIT, Like you'd think he'd know better. 259 00:12:55,160 --> 00:12:56,960 And then he gets out of the SEC position. 260 00:12:56,960 --> 00:12:59,480 He's like, actually, you know, there's Bitcoin and there's 261 00:12:59,480 --> 00:13:03,240 everything else and you're like, OK, so maybe maybe he was on our 262 00:13:03,240 --> 00:13:06,360 side the whole time. My favorite conspiracy on this. 263 00:13:06,640 --> 00:13:07,960 I wouldn't even say it's a conspiracy. 264 00:13:07,960 --> 00:13:12,520 My favorite take on this is that the reason Gary kind of fought 265 00:13:13,200 --> 00:13:16,640 the Bitcoin ETF launched for so long is because he wasn't able 266 00:13:16,640 --> 00:13:19,960 to find a way to stop the floodgate of shit coin ETF's 267 00:13:19,960 --> 00:13:22,200 being launched. I kind of like that take. 268 00:13:22,200 --> 00:13:24,720 Whether that's real or not, I don't know that that might be a 269 00:13:24,720 --> 00:13:28,200 more positive, optimistic view of Gary Ginzer in hindsight. 270 00:13:28,400 --> 00:13:33,080 We can always we can always, you know, make whatever narrative we 271 00:13:33,080 --> 00:13:35,720 want around Gary Ginzer, paint him as a good guy or a bad guy. 272 00:13:35,720 --> 00:13:38,960 But that did make I was like, OK, that that seems a little bit 273 00:13:38,960 --> 00:13:42,480 favorable. Anyways, let's everyone's 274 00:13:42,480 --> 00:13:44,880 talking about my Eric right now. It wasn't a Peaky Blinders fade, 275 00:13:44,880 --> 00:13:48,280 guys, OK? It was a Miami fade, all right? 276 00:13:48,280 --> 00:13:50,840 Different. Anyways, as I said a minute ago, 277 00:13:51,800 --> 00:13:54,080 shouts out to our boy Mitchell Harto, literally one of my 278 00:13:54,080 --> 00:13:57,520 favorite zoomers out there, and he's making the case that ever 279 00:13:57,520 --> 00:14:02,120 since the ETF was launched, the fundamental cycle of Bitcoin, 280 00:14:02,120 --> 00:14:05,840 the fundamental market structure of the price has changed. 281 00:14:05,840 --> 00:14:10,120 Now we don't have enough data for this, but it is kind of 282 00:14:10,120 --> 00:14:12,160 making a good case, so here we go. 283 00:14:12,160 --> 00:14:16,280 His tweet BTCUS dollar looks to like 2 entirely different assets 284 00:14:16,280 --> 00:14:19,280 before and after the ETF launch. The days of parabolic bull 285 00:14:19,280 --> 00:14:21,200 markets and devastating bear markets are over. 286 00:14:21,200 --> 00:14:23,960 Bitcoin is going to $1,000,000 over the next 10 years through a 287 00:14:23,960 --> 00:14:28,040 consistent oscillation between quote pump and consolidation. 288 00:14:28,240 --> 00:14:30,880 It will bore everyone to death along the way and shake the 289 00:14:30,880 --> 00:14:32,800 tourists out of their position. Strap in. 290 00:14:33,160 --> 00:14:36,200 And I don't know if we have enough data to really show this, 291 00:14:36,560 --> 00:14:41,840 but this does, you know, on a intuitive level makes sense to 292 00:14:41,840 --> 00:14:44,680 me. One of the real basis for this 293 00:14:44,680 --> 00:14:47,760 is this idea that when the institutions kind of come into a 294 00:14:47,760 --> 00:14:50,320 market, especially a small market like Bitcoin, they 295 00:14:50,320 --> 00:14:54,000 obviously have enough capital and sophisticated financial 296 00:14:54,000 --> 00:14:57,000 engineering to kind of control the market for a little bit. 297 00:14:57,000 --> 00:14:58,960 Now, a lot of people have been saying this is market 298 00:14:58,960 --> 00:15:00,480 manipulation. They want to keep the price 299 00:15:00,480 --> 00:15:03,120 down, they're suppressing it. I don't know if that's 300 00:15:03,120 --> 00:15:04,960 necessarily the case. Obviously, I think there is some 301 00:15:04,960 --> 00:15:07,840 paper Bitcoin and there is some quote UN quote price suppression 302 00:15:07,840 --> 00:15:13,280 in the Bitcoin market, but the bigger idea I think is if you 303 00:15:13,280 --> 00:15:15,960 look at the S&P 500, and I've been making this case for a long 304 00:15:15,960 --> 00:15:17,440 time. If you look at the S&P here, 305 00:15:17,440 --> 00:15:20,360 actually maybe I'll pull it up for you so you guys can see see 306 00:15:20,360 --> 00:15:23,400 what I'm saying. If you look at the S&P 500 and 307 00:15:23,400 --> 00:15:25,680 I've been joking for a while that we're basically just 308 00:15:25,680 --> 00:15:28,680 trading the S&P 500 now because we're just getting bored to 309 00:15:28,680 --> 00:15:32,160 death. It does kind of have this very 310 00:15:32,160 --> 00:15:35,320 boring up and to the right look here. 311 00:15:36,120 --> 00:15:41,120 So here I'm on the month chart. So, so it's not not fully ideal, 312 00:15:41,320 --> 00:15:46,000 but look at the S&P 500 again, this is the monthly candles. 313 00:15:46,000 --> 00:15:47,520 And, and I'll zoom in a little bit. 314 00:15:47,920 --> 00:15:52,920 It is starting to kind of look what we're seeing in the Bitcoin 315 00:15:52,920 --> 00:15:55,040 market. It's just kind of has this 316 00:15:55,040 --> 00:15:57,400 gradual boring up and to the right. 317 00:15:57,400 --> 00:16:01,760 It's got like 2530% corrections and then it recovers and then it 318 00:16:01,760 --> 00:16:03,560 just keeps pumping up and to the right. 319 00:16:03,800 --> 00:16:07,200 Well, this is what these institutional investors are used 320 00:16:07,200 --> 00:16:11,960 to trading and and so I wouldn't be surprised if this is what 321 00:16:11,960 --> 00:16:13,760 we're seeing right here. And you could kind of make the 322 00:16:13,760 --> 00:16:15,440 case that that's what Mitchell Hartle was saying. 323 00:16:15,440 --> 00:16:17,160 It's like these big institutional investors are 324 00:16:17,160 --> 00:16:19,800 coming into the space and it looks like we're just going to 325 00:16:19,800 --> 00:16:22,600 be seeing these kind of boring, you know, dips. 326 00:16:22,600 --> 00:16:24,920 Like for us, a, a dip's like 80%. 327 00:16:24,920 --> 00:16:27,520 That's when we, we get ravaged out there and we're like, we 328 00:16:27,520 --> 00:16:29,160 need to buy the dip, buy the dip. 329 00:16:29,160 --> 00:16:32,680 It's on discount. We might not be seeing 80% dips 330 00:16:32,680 --> 00:16:35,440 now obviously we won't know until the end of the year. 331 00:16:35,440 --> 00:16:40,120 But if you do kind of zoom in here, you look at this, you 332 00:16:40,120 --> 00:16:42,320 know, let me let me cut off. Oh, it won't let me, let me cut 333 00:16:42,320 --> 00:16:45,480 off the end here. Look at this market structure 334 00:16:45,480 --> 00:16:48,080 and then I'm going to go back to the S&P 500. 335 00:16:48,480 --> 00:16:51,600 And I don't know, guys there there, you could make an 336 00:16:51,600 --> 00:16:54,480 argument that this is kind of what we're seeing play out in 337 00:16:54,480 --> 00:16:57,400 the market. Now, of course, with more huge 338 00:16:57,560 --> 00:17:02,240 capital, with more banks and more nation States and a more 339 00:17:02,240 --> 00:17:06,319 ETF capital coming in, you could make the case that we are now 340 00:17:06,319 --> 00:17:10,240 trading this to V500. Now, do I agree with Mitchell 341 00:17:10,240 --> 00:17:13,560 Hoddle on this idea that we're not going to see crazy pumps 342 00:17:13,560 --> 00:17:14,800 anymore? Not really. 343 00:17:14,800 --> 00:17:18,240 I did a tweet the other day. Now, as I told you yesterday, I 344 00:17:18,240 --> 00:17:20,760 was watching Mark Moss this weekend. 345 00:17:20,760 --> 00:17:23,560 I I went to a Mark Moss rabbit hole and he said something that 346 00:17:23,560 --> 00:17:26,440 was super interesting and actually like, since since I'm 347 00:17:26,480 --> 00:17:29,840 since I'm alone here with Chris, I will bring a meme for you 348 00:17:29,840 --> 00:17:33,120 guys. And I made this last night just 349 00:17:33,120 --> 00:17:35,320 on a whim. It actually it dude, it did some 350 00:17:35,320 --> 00:17:37,920 numbers, bro. I, I did some numbers yesterday. 351 00:17:37,920 --> 00:17:42,960 OK, it's got like 100 likes numbers. 352 00:17:42,960 --> 00:17:46,480 Dude, I'm doing numbers. I'm literally the meme, it's his 353 00:17:46,480 --> 00:17:48,240 idea. So what Mark Moss said that 354 00:17:48,240 --> 00:17:51,320 really kind of planted the idea. He's like, look what you're 355 00:17:51,320 --> 00:17:55,640 seeing in the Bitcoin price. The 1st 16 years, obviously, 356 00:17:55,640 --> 00:17:58,560 like it was incredible. It took Bitcoin, how long, you 357 00:17:58,560 --> 00:18:01,000 know, 10 years to get to a trillion dollar market cap. 358 00:18:01,200 --> 00:18:04,320 It went very quickly to two. And what I think we're going to 359 00:18:04,320 --> 00:18:08,280 see in the next 16 years of Bitcoin is what we like to call, 360 00:18:08,280 --> 00:18:11,040 you know, the S curve adoption. Like I think it's going to go 361 00:18:11,040 --> 00:18:13,400 even more parabolic the next 16 years. 362 00:18:13,400 --> 00:18:16,440 And my tweet was something on like the next 16 years, this is 363 00:18:16,440 --> 00:18:18,560 going to be more bullish in the 1st 16 years. 364 00:18:18,880 --> 00:18:21,960 And I'm fully convinced of that. Like I'm seeing what I'm seeing 365 00:18:21,960 --> 00:18:23,600 on the adoption level with like the news. 366 00:18:23,600 --> 00:18:26,120 We're seeing Middle East starting to embrace Bitcoin. 367 00:18:26,400 --> 00:18:29,080 We're seeing sovereign wealth funds literally being created 368 00:18:29,080 --> 00:18:32,680 just to buy Bitcoin. We're seeing the US superpower, 369 00:18:32,680 --> 00:18:37,640 economic superpower pivot and say they're going to literally 370 00:18:37,640 --> 00:18:40,360 open up the floodgates into Bitcoin And we don't even have 371 00:18:40,360 --> 00:18:43,680 to get into my whole stable coin thesis of they're going to 372 00:18:43,680 --> 00:18:48,000 expand the money supply to essentially pump assets up into 373 00:18:48,000 --> 00:18:51,280 the moon. This was my meme from yesterday. 374 00:18:51,560 --> 00:18:55,200 And this is, you know, for you visual learners is literally 375 00:18:55,200 --> 00:18:58,480 what I'm thinking is going to play out and it goes Bitcoin in 376 00:18:58,480 --> 00:19:00,320 the 1st 16 years. You know, the roots, the 377 00:19:00,320 --> 00:19:03,520 foundations are being built and then Bitcoin and just to be 378 00:19:03,520 --> 00:19:06,400 hyperbolic in the next 12 weeks, because I think my math is way 379 00:19:06,400 --> 00:19:08,600 wrong because it should have been 24 weeks. 380 00:19:08,600 --> 00:19:11,720 What, 6 months? That's 24 weeks basically, I did 381 00:19:11,720 --> 00:19:15,320 12 weeks, 3 months, whatever is when the plants, when the leaves 382 00:19:15,320 --> 00:19:18,280 start to sprout. And this is where you really 383 00:19:18,280 --> 00:19:20,200 start to see all the crazy stuff play out. 384 00:19:20,200 --> 00:19:22,880 And I think that's kind of what we're seeing right now with all 385 00:19:22,880 --> 00:19:25,000 the news we're seeing. You know, Nico keeps saying this 386 00:19:25,000 --> 00:19:27,880 is the most bullish cycle in terms of news, but it's the most 387 00:19:27,880 --> 00:19:30,000 boring in, in terms of price action. 388 00:19:30,840 --> 00:19:33,320 I think we're just getting, I think we're just getting heated 389 00:19:33,320 --> 00:19:34,880 up. I think it's going to still 390 00:19:34,880 --> 00:19:36,440 pump. I think it's still going to have 391 00:19:36,440 --> 00:19:39,680 an incredible price move. It's just hard to see with so 392 00:19:39,680 --> 00:19:42,040 much liquidity buying Bitcoin every day. 393 00:19:42,040 --> 00:19:43,920 There's a new Bitcoin treasury company announced. 394 00:19:43,920 --> 00:19:46,840 I don't know if you guys saw them, but Jack Mahler's 21 395 00:19:46,840 --> 00:19:49,400 Capital, of course, partner with Cantor Fitzgerald. 396 00:19:50,200 --> 00:19:52,960 They just announced that they have, I think their initial 397 00:19:52,960 --> 00:19:55,600 announcement is they wanted to get 50,000 coins. 398 00:19:56,320 --> 00:19:59,640 They literally in the in this week have jumped all the way up 399 00:19:59,640 --> 00:20:03,120 to the third largest Bitcoin treasury company. 400 00:20:03,120 --> 00:20:05,960 They have something around like 43,000 Bitcoin already. 401 00:20:06,160 --> 00:20:08,920 So it seems like they are being overcapitalized right now. 402 00:20:08,920 --> 00:20:11,480 They have way more Bitcoin than they even claimed they were 403 00:20:11,480 --> 00:20:14,120 going to get. And I think this is only going 404 00:20:14,120 --> 00:20:16,480 to increase. And I think as the meme goes, 405 00:20:16,480 --> 00:20:18,920 every company will be a Bitcoin treasury company. 406 00:20:19,080 --> 00:20:22,120 Will they be a strategy Bitcoin company in the sense of they're 407 00:20:22,120 --> 00:20:25,560 going to be taking free, you know, basically free money, free 408 00:20:25,560 --> 00:20:27,800 debt and. My Bitcoin I don't think so, but 409 00:20:27,800 --> 00:20:30,640 I think every company in the world will have Bitcoin on their 410 00:20:30,640 --> 00:20:33,040 balance sheet and essentially be a corporate quote UN quote 411 00:20:33,040 --> 00:20:34,760 corporate Bitcoin treasury company. 412 00:20:35,240 --> 00:20:41,520 Anyways, I'm I, I'm starting to make myself even more bullish. 413 00:20:42,200 --> 00:20:44,280 I'm I it's hard to make yourself more bullish. 414 00:20:44,280 --> 00:20:46,840 Yeah dude, everyone in the chat, S&P and chill. 415 00:20:47,160 --> 00:20:52,520 Literally it's guys we're going to be bored to death to 416 00:20:52,520 --> 00:20:54,640 $1,000,000. I'd like this is this is 417 00:20:54,640 --> 00:20:57,480 probably the truest thing I've heard in a long time considering 418 00:20:57,480 --> 00:21:01,040 this year, I think we're going to be bored to death to 419 00:21:01,040 --> 00:21:03,160 $1,000,000, but it's going to be like bored to death to 420 00:21:03,160 --> 00:21:06,120 $1,000,000 in like 2027. So in like 2 years you're still 421 00:21:06,120 --> 00:21:08,400 going to get a 10X game, but it's just going to be a boring 422 00:21:08,400 --> 00:21:10,280 10X game. It's not going to be like a 12 423 00:21:10,280 --> 00:21:11,960 day pump. I don't know. 424 00:21:11,960 --> 00:21:13,880 That's kind of just what my intuition's telling me. 425 00:21:13,880 --> 00:21:15,320 That's, that's where I'm at right now. 426 00:21:15,320 --> 00:21:17,400 But Chris, what are you? What are you thinking? 427 00:21:17,680 --> 00:21:19,560 I I got I got a question for you, Avi. 428 00:21:19,560 --> 00:21:21,000 So I'm going to flip the script here. 429 00:21:21,000 --> 00:21:24,280 I'm going to ask you a question. So I know I forget who 430 00:21:24,280 --> 00:21:27,320 popularized this, but basically I was hearing like obviously a 431 00:21:27,320 --> 00:21:29,960 lot of people are very hesitant about these Bitcoin treasury 432 00:21:29,960 --> 00:21:32,520 companies or just even these companies in collaboration with 433 00:21:32,520 --> 00:21:35,920 governments as we can see the UAE bank or even just a lot of 434 00:21:35,920 --> 00:21:38,320 these banks and government officials that are like bullish 435 00:21:38,320 --> 00:21:40,160 on Bitcoin. But do you see it? 436 00:21:40,160 --> 00:21:42,080 I, I forgot who said it. Like I said, is this like 437 00:21:42,160 --> 00:21:44,760 bitcoins Trojan horse? Like I think people are worried 438 00:21:44,760 --> 00:21:48,560 about government officials, governments, dictators, 439 00:21:48,560 --> 00:21:51,200 whatever, coming in and trying to change Bitcoin or changing 440 00:21:51,200 --> 00:21:53,280 the culture. Or do you think Bitcoin goes in 441 00:21:53,280 --> 00:21:55,640 and changes them? So a lot of people have said 442 00:21:55,640 --> 00:21:57,760 it's a Trojan horse. Like everyone's like everyone 443 00:21:57,760 --> 00:21:58,920 needs Bitcoin at the end of the day. 444 00:21:59,000 --> 00:22:00,800 But I think they're worried about the consequences of the 445 00:22:00,800 --> 00:22:04,480 culture and trying to change or modify or, or I hate to say 446 00:22:04,480 --> 00:22:07,240 gamify, but like basically trying to potentially harm 447 00:22:07,240 --> 00:22:09,800 developers. As we saw with choke point 2.0, 448 00:22:09,800 --> 00:22:11,800 we're trying to stifle Bitcoins innovation. 449 00:22:11,800 --> 00:22:12,600 So what are your thoughts on that? 450 00:22:12,600 --> 00:22:17,360 Is Bitcoin the Trojan horse? Chris, I, I don't mean to side 451 00:22:17,360 --> 00:22:20,400 swipe or step around your question, but I literally wanted 452 00:22:20,400 --> 00:22:21,680 to talk about this on the culture. 453 00:22:22,400 --> 00:22:24,120 I got some stuff. We're going to talk about this 454 00:22:24,120 --> 00:22:28,240 later, So remember the question and we'll we'll rehash this at 455 00:22:28,240 --> 00:22:30,600 the end of the show. But my take is Trojan horse. 456 00:22:30,800 --> 00:22:33,600 So just just, you know, not to skip the question, but I 457 00:22:33,600 --> 00:22:36,280 literally had, I have the culture built around that same 458 00:22:36,280 --> 00:22:38,600 idea. So we're dude, we're telepathic 459 00:22:38,600 --> 00:22:39,960 here. We're on a wavelength here. 460 00:22:40,400 --> 00:22:42,200 But yeah, we'll, we'll talk about it towards the end of the 461 00:22:42,200 --> 00:22:46,080 show, 'cause I, I think that's one of the big conversations 462 00:22:46,080 --> 00:22:49,560 happening right now is Bitcoin Co opted, you know, can Bitcoin 463 00:22:49,560 --> 00:22:53,680 withstand the interest, the lobbying from the the great 464 00:22:53,680 --> 00:22:55,480 leviathan? You know, you know what is going 465 00:22:55,480 --> 00:22:57,160 on right now. I think that's what, especially 466 00:22:57,160 --> 00:23:00,160 with like shows today, we were talking about banks coming into 467 00:23:00,160 --> 00:23:01,440 Bitcoin. Everyone does the same. 468 00:23:01,440 --> 00:23:03,440 Like I thought we were, I thought we were, you know, 469 00:23:03,440 --> 00:23:05,600 separating money from state, bro, we literally see it in the 470 00:23:05,600 --> 00:23:07,280 chat. They're like you guys are 471 00:23:07,280 --> 00:23:09,520 advocating for the banks to come in a big and we're like, no, 472 00:23:09,520 --> 00:23:11,760 we're just covering the biggest news story of the day. 473 00:23:11,760 --> 00:23:14,560 Like our view is still separation of money in state. 474 00:23:14,560 --> 00:23:17,680 You need to save in Bitcoin, but you need to take that Bitcoin 475 00:23:17,680 --> 00:23:20,600 into custody. Don't give these banks your 476 00:23:20,600 --> 00:23:24,400 Bitcoin, you know, like guys don't give them your Bitcoin. 477 00:23:24,400 --> 00:23:27,440 That that's the real take. But yeah, no Chris, let's put a 478 00:23:27,440 --> 00:23:29,400 pin on it and we'll and we'll talk about it at the end of the. 479 00:23:29,400 --> 00:23:30,640 Show I learned the same wavelength. 480 00:23:30,760 --> 00:23:33,280 Yeah, I have the whole culture wrapped around this idea. 481 00:23:33,280 --> 00:23:35,440 So all right, we'll we'll talk about this later. 482 00:23:35,440 --> 00:23:39,560 Anyways, guys, before I move on, of course, I do want to remind 483 00:23:39,560 --> 00:23:42,640 you to smash the like button comment on this show. 484 00:23:42,920 --> 00:23:47,000 Are we becoming bank Maxis or are we just following the news 485 00:23:47,000 --> 00:23:49,200 here? And of course, hit the subscribe 486 00:23:49,280 --> 00:23:51,040 try button guys. We dropped the best content. 487 00:23:51,040 --> 00:23:55,240 We dropped the most content out of any Bitcoin media company or 488 00:23:55,240 --> 00:23:58,360 YouTube channel period. We are ahead of the game. 489 00:23:58,800 --> 00:24:01,720 And on that note, I do want to give a huge shout out to our 490 00:24:01,720 --> 00:24:04,720 partners over at Bitcoin. Well, this is the best place to 491 00:24:04,720 --> 00:24:07,880 buy your Bitcoin because they will never rug pull you. 492 00:24:08,120 --> 00:24:12,200 You heard me clearly. There is no possible way that 493 00:24:12,200 --> 00:24:15,000 they can steal your Bitcoin and This is why we love them. 494 00:24:15,160 --> 00:24:18,000 When you send them to your money, they send it directly to 495 00:24:18,000 --> 00:24:22,080 you in your cold storage. You have to give them a Bitcoin 496 00:24:22,080 --> 00:24:23,960 address for you to receive Bitcoin. 497 00:24:23,960 --> 00:24:27,200 And again, this is so they never lose a SAT. 498 00:24:27,200 --> 00:24:30,840 They have never lost a SAT and they will never lose a SAT ever 499 00:24:30,840 --> 00:24:32,520 because they never hold your Bitcoin. 500 00:24:32,520 --> 00:24:35,640 So go to bitcoinwell.com/believeit's 501 00:24:35,640 --> 00:24:40,080 simply yes or simply BTC. Use your promo code simply BTC 502 00:24:40,200 --> 00:24:43,160 and if you scan this QR code over right here, you get three 503 00:24:43,160 --> 00:24:48,520 chances to win 1,000,000 SAT if you do play the Bitcoin wishing 504 00:24:48,520 --> 00:24:50,320 well. And on that note, guys, if you 505 00:24:50,320 --> 00:24:53,080 are sitting on the sideline right now and we're making you 506 00:24:53,080 --> 00:24:57,080 bullish and you're like, I have 50K of Fiat sitting and I don't 507 00:24:57,080 --> 00:25:00,960 know what to do it or I've heard stories of people saving all 508 00:25:00,960 --> 00:25:03,160 their money in the banks. So like what should I do with it 509 00:25:03,160 --> 00:25:05,080 guys? You should be smashed buying all 510 00:25:05,080 --> 00:25:10,160 of it into Bitcoin and go to the Bitcoin OTC dash, the Bitcoin 511 00:25:10,160 --> 00:25:13,880 Bitcoin well infinite product. They will hold your hand through 512 00:25:13,880 --> 00:25:17,640 the process white glove service so that you ensure that you have 513 00:25:17,640 --> 00:25:20,960 your Bitcoin protected for the long term. 514 00:25:21,240 --> 00:25:23,640 All right guys, on that note, let's get into the show. 515 00:25:23,640 --> 00:25:25,560 We got some interesting stuff to talk about. 516 00:25:32,440 --> 00:25:35,360 I want to tell you guys about our sponsor stamp seed. 517 00:25:35,720 --> 00:25:38,880 Is your Bitcoin and cold storage really secure? 518 00:25:39,200 --> 00:25:41,880 Are your seed words really secure? 519 00:25:42,040 --> 00:25:58,280 Stamp Seeds Do it You want to literally stamp your 520 00:25:58,280 --> 00:26:01,400 seed into this plate of titanium. 521 00:26:01,640 --> 00:26:05,240 Your words are actually stamped into the metal plate with this 522 00:26:05,240 --> 00:26:08,040 hammer. So once your words are in, they 523 00:26:08,040 --> 00:26:11,400 aren't going anywhere. No risk of the plate breaking 524 00:26:11,400 --> 00:26:14,120 apart and your pieces falling everywhere. 525 00:26:14,400 --> 00:26:17,680 Titanium stamp seeds will survive nearly triple the heat 526 00:26:17,880 --> 00:26:21,200 produced by a house fire. They are also crush proof, 527 00:26:21,360 --> 00:26:25,280 waterproof, non corrosive and most importantly, because this 528 00:26:25,280 --> 00:26:30,720 is generational wealth time proof, all things that paper is 529 00:26:30,920 --> 00:26:35,280 not allowing you to huddle your Bitcoin for the long haul. 530 00:26:35,280 --> 00:26:39,920 I mean, here is the plate that they crushed, they put in water, 531 00:26:40,040 --> 00:26:43,480 they put a blowtorch to it. And as you can see, the words 532 00:26:43,560 --> 00:26:47,120 have survived. Stamp your seed on stamp seed 533 00:26:47,680 --> 00:26:52,440 and you can use promo code simply to get 15% off anything 534 00:26:52,440 --> 00:26:54,960 on their store. Head over to stampse-ed.com 535 00:26:54,960 --> 00:27:03,040 today. Yo the the rumble chat, you guys 536 00:27:03,040 --> 00:27:06,600 got a meme all right get get off my back for like a week, OK, at 537 00:27:06,600 --> 00:27:10,920 least sheesh all right I'll be here on Clark Moody's dashboard 538 00:27:11,480 --> 00:27:14,720 bitcoin.clarkmoody.com of course, going over the Bitcoin 539 00:27:14,720 --> 00:27:18,600 numbers, the time change stats and the current Bitcoin price is 540 00:27:18,920 --> 00:27:24,240 117,760. The stats per dollar is very 541 00:27:24,240 --> 00:27:26,680 strongly under 1000 sets. It's crazy. 542 00:27:26,680 --> 00:27:28,360 We're at 849. The current block height is 543 00:27:28,360 --> 00:27:34,240 907,705 and the market cap in Fiat terms is $2.34 trillion. 544 00:27:34,240 --> 00:27:37,480 And we have secured that 10% of the gold market cap. 545 00:27:37,800 --> 00:27:42,320 There's still 90% of the hard money game to achieve and 546 00:27:42,320 --> 00:27:46,080 everyone's freaking out and we're just at a, you know -4.4% 547 00:27:46,080 --> 00:27:48,600 decline from all time highs. It's over guys. 548 00:27:48,600 --> 00:27:53,080 It's it's never been more over. Now actually, I was going to say 549 00:27:53,080 --> 00:27:56,560 no, we've never been more back. But actually, guys, I think it's 550 00:27:56,560 --> 00:28:01,160 never been more over. OK, so we we got a clip coming 551 00:28:01,160 --> 00:28:06,160 out and Jim Cramer is starting to get bullish on Bitcoin. 552 00:28:06,160 --> 00:28:08,080 So I was trying to bring a little light heartedness. 553 00:28:08,080 --> 00:28:09,600 You guys always yell at me about the memes. 554 00:28:09,600 --> 00:28:11,680 Well, we have a living meme in real time. 555 00:28:11,680 --> 00:28:16,400 But let's hear what he says. Some, some by Bitcoin, well, 556 00:28:16,400 --> 00:28:20,040 Bitcoin, you can put it in the speculation basket, but at the 557 00:28:20,040 --> 00:28:22,720 same time, how many companies who are just going over these 558 00:28:22,720 --> 00:28:25,880 numbers have, are raising money to buy Bitcoin? 559 00:28:27,000 --> 00:28:31,560 It's it's enormous, far more than has been raised by 560 00:28:31,720 --> 00:28:34,160 companies going public. It's because it's almost, it's 561 00:28:34,160 --> 00:28:38,320 almost encouraged. I mean, the, the the SEC chief 562 00:28:38,320 --> 00:28:41,840 is like, yeah, yeah, this is a very crypto positive 563 00:28:41,840 --> 00:28:43,360 administration, no doubt about that. 564 00:28:43,440 --> 00:28:45,440 That's been a real positive for all of the different. 565 00:28:45,720 --> 00:28:48,800 It's also a great hedge against the, the budget deficit. 566 00:28:48,920 --> 00:28:50,880 Well, it may be, which is what it is. 567 00:28:51,080 --> 00:28:53,080 Michael Saylor would say that, right Store of value. 568 00:28:53,440 --> 00:28:56,440 I, I, I, I was with someone whose son took his paycheck and 569 00:28:56,440 --> 00:29:02,120 bought bought Bitcoin. I started a job good job five 570 00:29:02,120 --> 00:29:04,560 years ago and now it doesn't really have to work. 571 00:29:04,920 --> 00:29:08,680 And he's totally hedge the kids hedge father has to work. 572 00:29:09,200 --> 00:29:11,840 I'm I'm kidding, the kids hedge. Look, I mean, this is happening. 573 00:29:12,160 --> 00:29:14,960 We won't want to talk about it. Or maybe we think it's Vimark. 574 00:29:15,080 --> 00:29:18,360 Maybe it's Vimark 23? Well, I mean it's not often you 575 00:29:18,360 --> 00:29:21,880 create a new asset class and then write the regs around it in 576 00:29:21,880 --> 00:29:26,200 real time at the same time that's different and we we don't 577 00:29:26,200 --> 00:29:28,280 know what that's going to bring. Well, like the guys from Circle, 578 00:29:28,280 --> 00:29:32,600 I mean, I was, I said that maybe there's a possibility that JP 579 00:29:32,600 --> 00:29:36,320 Morgan or BlackRock could do a stable coin and you get to usual 580 00:29:36,320 --> 00:29:37,440 e-mail. She's like, you don't know what 581 00:29:37,440 --> 00:29:38,560 you're talking about. It's much bigger. 582 00:29:38,920 --> 00:29:40,640 I've gotten more I don't know what you're talking about in 583 00:29:40,640 --> 00:29:43,680 emails since like there's like so many of us like wait, because 584 00:29:43,680 --> 00:29:45,200 every time I know I don't know what I'm talking about. 585 00:29:45,200 --> 00:29:48,600 I know what I'm talking. All right, guys, it's never been 586 00:29:48,600 --> 00:29:50,840 more over. It's over dog cancel. 587 00:29:51,120 --> 00:29:54,480 The bull run, all of my bullish talk in the beginning, has 588 00:29:54,480 --> 00:29:57,160 completely been destroyed because of Jim Cramer. 589 00:29:57,360 --> 00:30:00,400 Maybe the economists were right off the We become Weimar Germany 590 00:30:00,480 --> 00:30:02,760 because of Bitcoin, because of Jim Cramer. 591 00:30:04,720 --> 00:30:09,200 Well, I mean talking of Weimar, it is interesting like he is 592 00:30:09,760 --> 00:30:12,480 directionally correct. You know what he said is crazy. 593 00:30:12,480 --> 00:30:16,920 Maybe this is Weimar 2025 like maybe we are in the beginning of 594 00:30:17,440 --> 00:30:22,200 the currency hyperinflate and I don't actually think that the US 595 00:30:22,200 --> 00:30:23,960 dollar is going to hyperinflate that quickly. 596 00:30:23,960 --> 00:30:27,320 I, I think they still have a lot of tools in their tool belt to 597 00:30:27,320 --> 00:30:32,920 continue to, you know, make the runway longer for the dollar and 598 00:30:33,040 --> 00:30:35,760 add, I think actually one of the hot takes that Mark Moss was 599 00:30:35,760 --> 00:30:38,440 saying is like Bitcoiners are not going to like this, but he 600 00:30:38,440 --> 00:30:42,800 believes that the Bitcoin will essentially give the dollar more 601 00:30:42,800 --> 00:30:44,280 life. And This is why we're seeing 602 00:30:44,280 --> 00:30:48,040 this push through stablecoins. And I think directionally he is 603 00:30:48,040 --> 00:30:50,520 correct. Like what I'm seeing is also, 604 00:30:50,880 --> 00:30:56,520 you know, this connection between the US and Bitcoin 605 00:30:56,520 --> 00:30:59,640 through stablecoins, it does seem like they're doing whatever 606 00:30:59,640 --> 00:31:02,680 they can and to elongate the dollar runway. 607 00:31:03,000 --> 00:31:07,800 And even if you are a, you know, Larry Leopard Fiat dumer type 608 00:31:07,800 --> 00:31:10,800 person, I think this can go on a lot longer. 609 00:31:10,800 --> 00:31:13,360 I think the dollar is going to be with us for any at least the 610 00:31:13,360 --> 00:31:17,720 next 1020 years. But during that time Bitcoin 611 00:31:17,720 --> 00:31:21,680 will, sorry, the dollar will fundamentally continue to lose 612 00:31:21,680 --> 00:31:24,640 value. It loses value by design and it 613 00:31:24,640 --> 00:31:28,080 is very interesting to see the corallows between the current 614 00:31:28,080 --> 00:31:32,000 dollar dominance and what we saw, you know in Weimar Germany 615 00:31:32,000 --> 00:31:34,960 when the currency is hyperinflated and as you know 616 00:31:34,960 --> 00:31:37,600 you need to protect yourself in hard assets. 617 00:31:37,600 --> 00:31:42,000 There is that historical example of someone in Weimar Germany 618 00:31:42,000 --> 00:31:45,320 that basically was hedging and trading in precious metals and 619 00:31:45,320 --> 00:31:46,880 they made a killing throughout the time. 620 00:31:46,880 --> 00:31:50,160 Now we just updated this to it doesn't need to be precious 621 00:31:50,160 --> 00:31:51,760 metals. You just need to buy Bitcoin. 622 00:31:51,760 --> 00:31:53,960 You could just need to continue to buy Bitcoin daily. 623 00:31:54,240 --> 00:31:56,360 And this is how you protect yourself against whatever 624 00:31:56,360 --> 00:31:59,680 craziness is coming. And actually in the news, we 625 00:31:59,680 --> 00:32:01,760 have one of the, again, one of the biggest billionaires 626 00:32:01,760 --> 00:32:04,320 essentially saying the same thing, continuing to double down 627 00:32:04,320 --> 00:32:07,400 on the debt loop spiral or the doom debt spiral. 628 00:32:07,400 --> 00:32:09,600 What's it debt doom? I forgot what they call it now. 629 00:32:09,840 --> 00:32:12,400 Debt doom loop spiral. Doom loop, spiral, that's the 630 00:32:12,400 --> 00:32:15,120 one. And so a lot of the signs are 631 00:32:15,120 --> 00:32:17,520 there. Now, do you have to go full 632 00:32:17,520 --> 00:32:19,600 doomer? I don't think you have to go 633 00:32:19,600 --> 00:32:22,000 full doomer. I don't think Bitcoin's success 634 00:32:22,120 --> 00:32:25,200 depends on the collapse of the dollar here. 635 00:32:25,720 --> 00:32:27,680 Bitcoin's going to succeed either way. 636 00:32:27,680 --> 00:32:29,560 As far as I'm concerned, it's just superior money. 637 00:32:29,560 --> 00:32:33,560 But with a catastrophic collapse of the dollar, of course, you'll 638 00:32:33,560 --> 00:32:35,520 see the Bitcoin price go absolutely nuclear. 639 00:32:35,520 --> 00:32:38,680 Now the funny part about this though, of this clip from from 640 00:32:38,800 --> 00:32:42,480 Jim Cramer is at the end where he's like, dude, I one of my one 641 00:32:42,480 --> 00:32:45,840 of my friend's kids has hedged himself in Bitcoin and he just 642 00:32:45,840 --> 00:32:48,640 kicked back by the pool. It's probably like American 643 00:32:48,640 --> 00:32:51,680 Hoddle or something like that, chilling by the pool drinking 644 00:32:51,680 --> 00:32:53,960 margaritas. Like, hey, you have to go to 645 00:32:53,960 --> 00:32:55,880 work, dad. Like, are you winning, Dad? 646 00:32:56,120 --> 00:32:58,560 No, I have to clock in do my 9:00 to 5:00. 647 00:32:58,560 --> 00:33:00,280 Are you winning, son? Yeah, I'm chilling. 648 00:33:00,280 --> 00:33:02,120 I'm shit posting on Twitter all day. 649 00:33:02,720 --> 00:33:05,680 This is this is what's going on. We are in a new era. 650 00:33:05,680 --> 00:33:07,280 We're in a in a totally new time. 651 00:33:07,280 --> 00:33:10,720 And literally all you have to do is Bitcoin and chill saving 652 00:33:10,720 --> 00:33:14,360 Bitcoin, taking into custody, you know, laugh on Twitter, 653 00:33:14,360 --> 00:33:17,920 watch all the madness, and you are going to succeed. 654 00:33:17,920 --> 00:33:20,240 It's literally the easiest playbook period. 655 00:33:20,600 --> 00:33:23,240 And yet with all the good news we're hearing, people are still 656 00:33:23,240 --> 00:33:25,080 laughing at Bitcoin and Bitcoiners. 657 00:33:25,080 --> 00:33:28,560 It makes no sense to me. But with all that being said, we 658 00:33:28,560 --> 00:33:30,280 have just been cursed by Jim Cramer. 659 00:33:30,360 --> 00:33:32,960 So it's over, guys. It's completely over. 660 00:33:34,000 --> 00:33:37,360 We've never been more over because Jim Cramer is starting 661 00:33:37,360 --> 00:33:40,360 to say he likes Bitcoin. It's horrible. 662 00:33:40,600 --> 00:33:43,040 It's horrible. Anyways, Chris, how over is it 663 00:33:43,040 --> 00:33:45,520 does? This break the curse is he is. 664 00:33:45,840 --> 00:33:51,280 He does this break the curse? Say Jim Cramer goes all in on 665 00:33:51,280 --> 00:33:52,640 Bitcoin and that breaks the curse. 666 00:33:52,920 --> 00:33:55,440 I don't think that actually happens, but maybe the local top 667 00:33:55,440 --> 00:33:58,240 is in for the time being now that Jim Cramer is is Bitcoin 668 00:33:58,240 --> 00:34:00,480 bull, Bitcoin maxi. Or maybe it's over to the 669 00:34:00,480 --> 00:34:02,560 Bitcoin treasury companies. He was talking about the Bitcoin 670 00:34:02,560 --> 00:34:04,000 treasury companies. Maybe it's over for them. 671 00:34:04,200 --> 00:34:05,800 I don't know. It needs to be seen. 672 00:34:06,680 --> 00:34:10,120 I guess I'll I'll add my my 2 sats to kind of your argument 673 00:34:10,120 --> 00:34:12,520 with Mark Moss and always our good friend Mark Goodwin. 674 00:34:12,520 --> 00:34:16,639 Shout out to Mark love the kid to death, but I I definitely 675 00:34:16,639 --> 00:34:19,159 think, and we've even heard this from Ansel Lindner as well. 676 00:34:19,360 --> 00:34:22,280 Like I definitely think the US dollar is going to strengthen 677 00:34:22,320 --> 00:34:25,199 relative to it. And the, I think it's kind of 678 00:34:25,199 --> 00:34:29,480 the scary or I guess the George Orwell 1984 kind of it all is 679 00:34:29,480 --> 00:34:34,080 like as the US dollar strengthens in Fiat currency 680 00:34:34,080 --> 00:34:38,440 purchasing power, it's, it gets more Orwellian in the sense that 681 00:34:38,440 --> 00:34:40,840 like, you know, obviously there's bank limit caps of 682 00:34:41,000 --> 00:34:43,400 $10,000. I know those were set in the 70s 683 00:34:43,560 --> 00:34:45,040 right when we're coming off the gold standard. 684 00:34:45,159 --> 00:34:48,239 And that back then was like 75,000 dollars, 80,000 dollars, 685 00:34:48,239 --> 00:34:50,520 $85,000, whatever the purchasing power of that was. 686 00:34:50,679 --> 00:34:53,159 So when you did more than $10,000, whether it was in 687 00:34:53,159 --> 00:34:56,480 credit card or a loan or even cash, they had to report those. 688 00:34:57,080 --> 00:35:00,480 Obviously, as the dollar has lost purchasing power relative 689 00:35:00,480 --> 00:35:03,240 to assets, so it is strengthened relative to other Fiat 690 00:35:03,240 --> 00:35:05,440 currencies. It has weakened relative to 691 00:35:05,440 --> 00:35:07,200 anything you want to buy goods and services. 692 00:35:07,480 --> 00:35:10,240 So with that being said, like we creep up to those limits, that 693 00:35:10,240 --> 00:35:12,280 means that more and more people are being surveilled. 694 00:35:12,440 --> 00:35:14,720 And obviously, it looks like Tether's going to get welcomed 695 00:35:14,720 --> 00:35:16,520 into open arms in this administration. 696 00:35:16,680 --> 00:35:19,520 But at the same time, back in 2022 and 2023, they're like, 697 00:35:19,640 --> 00:35:23,280 we've onboarded the IRS and the FBI and the NSA. 698 00:35:23,280 --> 00:35:25,920 It's like, all right, so it's like, you know, I know Mark 699 00:35:25,920 --> 00:35:27,200 Goodwin hammers the drum on this. 700 00:35:27,200 --> 00:35:30,840 Like while stable coins aren't CBDC's, they're almost a better 701 00:35:30,840 --> 00:35:32,680 CBDC. Like yeah, they're not a central 702 00:35:32,680 --> 00:35:35,080 bank digital currency. They're a private company 703 00:35:35,080 --> 00:35:37,120 digital currency. But at the same time, they could 704 00:35:37,120 --> 00:35:40,000 be Co opted just as the same and that your transactions can be 705 00:35:40,000 --> 00:35:42,120 reversed when you're using Tether and things like that. 706 00:35:42,120 --> 00:35:44,960 And like obviously many people have vouched for the Tether 707 00:35:44,960 --> 00:35:45,920 guys. You know, they said they're 708 00:35:45,920 --> 00:35:47,920 hardcore bitcoiners and I believe they have a great 709 00:35:47,920 --> 00:35:50,840 business. They have a great business model 710 00:35:50,840 --> 00:35:52,280 for what they do. They're giving dollars to the 711 00:35:52,280 --> 00:35:54,280 rest of the world that can't that doesn't, doesn't have a 712 00:35:54,280 --> 00:35:58,120 Venmo account or a PayPal or Robin Hood or a sofa or a way to 713 00:35:58,120 --> 00:36:00,760 interact with U.S. stocks and equities and bonds. 714 00:36:01,000 --> 00:36:03,360 But at the same time, like I worry that they're going to be 715 00:36:03,360 --> 00:36:06,040 under the thumb and the regulation of the US government. 716 00:36:06,040 --> 00:36:08,400 So my long winded response is like that. 717 00:36:08,400 --> 00:36:09,880 We're building 2 parallel societies. 718 00:36:09,880 --> 00:36:12,640 There's one that's Bitcoin and a Bitcoin freedom and oriented 719 00:36:12,640 --> 00:36:15,120 society. And then there's stablecoin, 720 00:36:15,120 --> 00:36:18,160 CBDC's and the US dollar strengthening and getting way 721 00:36:18,160 --> 00:36:20,640 stronger and, and harming people that stay in that system. 722 00:36:20,840 --> 00:36:23,040 But the weirdest thing is it's almost like the carrot in the 723 00:36:23,040 --> 00:36:25,360 stick that people, the Internet like, oh, I have the US dollar. 724 00:36:25,360 --> 00:36:28,280 It is the global reserve currency, not the global reserve 725 00:36:28,280 --> 00:36:31,760 asset is still treasury bonds. But at the end of the day, I 726 00:36:31,760 --> 00:36:33,640 believe that people are going to go into that system being like, 727 00:36:33,640 --> 00:36:37,960 oh, like I was in Honduras or I was in XY and Z country that had 728 00:36:37,960 --> 00:36:40,160 their country, their currency hyperinflate. 729 00:36:40,160 --> 00:36:42,480 Well, and now I'm in the US dollar, which is superior, which 730 00:36:42,480 --> 00:36:44,560 is the king. Cash is king, the old saying. 731 00:36:44,680 --> 00:36:47,040 But I definitely think that you're going to harm yourself in 732 00:36:47,040 --> 00:36:50,840 that society or that economy because of your losing 733 00:36:50,840 --> 00:36:53,000 purchasing power just more slowly than the rest of the 734 00:36:53,000 --> 00:36:54,920 world. And to Opti's point, I think a 735 00:36:54,920 --> 00:36:57,960 lot of other currencies in the world outside of like maybe the 736 00:36:57,960 --> 00:37:03,360 Japanese yen, the Chinese yuan, maybe the euro, maybe the 737 00:37:03,360 --> 00:37:05,880 British pound are like the top five currencies that I see being 738 00:37:05,880 --> 00:37:07,760 around long term. I think every other currency 739 00:37:07,760 --> 00:37:10,120 hyperinflates relative that. And then once those hyper 740 00:37:10,440 --> 00:37:12,960 currencies hyperinflate and they either dollarize or they go to 741 00:37:12,960 --> 00:37:16,400 the Wan or the yen or whatever, eventually those start to feel 742 00:37:16,400 --> 00:37:19,240 pressure globally. So while they are devaluing 743 00:37:19,320 --> 00:37:21,600 slower, they're the best horse in the glue factory as it's 744 00:37:21,600 --> 00:37:24,280 called. I do think long run that is not 745 00:37:24,280 --> 00:37:26,480 the society or the world that we want to be in. 746 00:37:26,600 --> 00:37:29,560 We want to slowly inch people over to Bitcoin, people using 747 00:37:29,560 --> 00:37:31,800 Bitcoin as freedom money, sending Bitcoin over the 748 00:37:31,800 --> 00:37:33,360 Lightning network where it's less traceable. 749 00:37:33,360 --> 00:37:36,400 Obviously for the receiver it is a different story, but for the 750 00:37:36,400 --> 00:37:38,400 sender it is very almost perfectly private. 751 00:37:38,760 --> 00:37:40,760 So that's my long winded rent. Buy Bitcoin. 752 00:37:40,960 --> 00:37:43,520 We're trying to orange peel you and you know, we're trying to 753 00:37:43,520 --> 00:37:46,560 force you, bore you into financial freedom and financial 754 00:37:46,560 --> 00:37:48,720 sovereignty. They humble stack. 755 00:37:48,800 --> 00:37:52,320 That totally. I would make one caveat to what 756 00:37:52,320 --> 00:37:55,440 you saying about the currencies. I think the EUR cooked 757 00:37:55,840 --> 00:37:58,360 personally, I think the. EUR, I say it as a 5, but I 758 00:37:58,360 --> 00:38:01,120 definitely think the Euros. No, I think the EUR cooked. 759 00:38:01,680 --> 00:38:04,880 I think the Japanese yen though historically has been one of the 760 00:38:04,880 --> 00:38:07,920 stronger currencies and and kind of one of the measuring sticks. 761 00:38:07,920 --> 00:38:09,800 I think the Japanese yen's pretty cooked. 762 00:38:11,320 --> 00:38:14,840 I think the main British pound's been cooked. 763 00:38:15,360 --> 00:38:17,760 I think, you know, they, they have that legacy. 764 00:38:18,120 --> 00:38:20,160 So like what? That's three of the top five. 765 00:38:20,160 --> 00:38:22,960 The only one that you missed that I think will be one of the 766 00:38:22,960 --> 00:38:24,640 stronger currencies is the Swiss franc. 767 00:38:24,880 --> 00:38:26,600 I I I was just thinking the Swiss franc. 768 00:38:26,600 --> 00:38:30,800 Yeah, I think the Swiss franc, the US dollar and probably the 769 00:38:30,800 --> 00:38:36,000 Chinese yuan are like the main three, you know, Fiat currencies 770 00:38:36,000 --> 00:38:40,280 that are going to probably last for the foreseeable future. 771 00:38:40,280 --> 00:38:44,320 I think, I think the European EUR done, I think the Japanese 772 00:38:44,320 --> 00:38:47,280 yens like live literally on life support right now. 773 00:38:47,640 --> 00:38:51,320 And the British pound just been freaking absolutely nuked as 774 00:38:51,320 --> 00:38:54,920 well. So if you are, you know, if you 775 00:38:54,920 --> 00:38:56,920 happen to be on the show and you're a forex trader or 776 00:38:56,920 --> 00:38:59,320 something and you trade traditional Fiat currencies and 777 00:38:59,320 --> 00:39:01,600 those are the three currencies you're probably looking at. 778 00:39:02,160 --> 00:39:05,320 I mean, I measure literally the dollar every morning against the 779 00:39:05,320 --> 00:39:10,040 Swiss franc and the Japanese yen just because just historically 780 00:39:10,040 --> 00:39:13,680 like the, the, the difference or rather the significance of those 781 00:39:13,680 --> 00:39:17,080 currency exchange rates can tell you a lot about what's going on 782 00:39:17,080 --> 00:39:20,720 in the global geopolitical macro environment right now. 783 00:39:20,920 --> 00:39:23,880 It's like Japanese yen, of course, literally my favorite, 784 00:39:23,880 --> 00:39:26,760 my favorite kind of take on the reason why Satoshi called 785 00:39:26,760 --> 00:39:29,920 himself Satoshi Nakamoto is to essentially say, hey, U.S. 786 00:39:29,920 --> 00:39:31,640 dollar, you're going to become the Japanese yen. 787 00:39:31,640 --> 00:39:34,320 We've all been seeing what's going on in the bond markets in 788 00:39:34,360 --> 00:39:37,320 Japan. They're not doing so hot right 789 00:39:37,320 --> 00:39:41,400 now and they are literally like the first QE advocates. 790 00:39:41,400 --> 00:39:43,560 They're the ones, hey, you can inflate your money out of note, 791 00:39:43,560 --> 00:39:46,400 like up into Infinity. And then Swiss franc has 792 00:39:46,600 --> 00:39:49,400 historically one of the strongest, most stable, not only 793 00:39:49,400 --> 00:39:51,160 central banks, but currencies around the world. 794 00:39:51,160 --> 00:39:54,960 So if you, if you want to start to kind of dive into macro 795 00:39:54,960 --> 00:39:58,600 stuff, highly recommend you look at the US dollar versus Japanese 796 00:39:58,600 --> 00:40:01,400 yen exchange rates and the US dollar versus Swiss franc 797 00:40:01,680 --> 00:40:03,560 exchange rates. And it does tell you a lot of 798 00:40:03,560 --> 00:40:05,960 what's going on in the world. Of course, you can also look at. 799 00:40:06,600 --> 00:40:10,520 Treasury yields for the pound and yen, etcetera. 800 00:40:10,960 --> 00:40:14,120 But there's a lot of information to be found in what Chris was 801 00:40:14,120 --> 00:40:18,200 saying, that the relative strength of currencies between 802 00:40:18,200 --> 00:40:21,040 each other do tell you a lot of what's going on in the world. 803 00:40:21,040 --> 00:40:23,240 But of course, for us, you can simplify it. 804 00:40:23,240 --> 00:40:26,800 Just look at what the Bitcoin to U.S. dollar exchange rate is, 805 00:40:26,800 --> 00:40:28,360 and that tells you everything you need to know. 806 00:40:28,360 --> 00:40:30,480 Are we pumping or are we dumping? 807 00:40:30,480 --> 00:40:33,880 That's all we want to know here. The the easiest Fiat currency 808 00:40:33,880 --> 00:40:36,040 short is to not actually short them because you can get 809 00:40:36,040 --> 00:40:38,080 yourself blown up. It's to buy Bitcoin with the 810 00:40:38,120 --> 00:40:40,840 Fiat currency. And I you know, that's another 811 00:40:40,840 --> 00:40:43,320 spicy take. How long can you trade paper 812 00:40:43,320 --> 00:40:45,880 money that's printed for free for a freedom money that is 813 00:40:45,880 --> 00:40:47,800 Bitcoin? That that remains to be seen 814 00:40:47,800 --> 00:40:51,480 when that ends. Yeah, dude, you can just short 815 00:40:51,480 --> 00:40:53,920 all Fiat currencies by buying Bitcoin, you know, keep. 816 00:40:54,640 --> 00:40:56,800 Taking in self custody? Yeah, buy taking in self 817 00:40:56,800 --> 00:40:58,800 custody. Taking the self custody, this is 818 00:40:58,800 --> 00:40:59,920 how you went. All right, guys. 819 00:40:59,920 --> 00:41:02,880 And on that note of what's it called? 820 00:41:02,880 --> 00:41:05,640 Death. Doom loop cycles, Spirals. 821 00:41:06,200 --> 00:41:07,960 Death. Doom loop spiral. 822 00:41:08,120 --> 00:41:10,680 Yeah, death, doom loop spiral we have. 823 00:41:10,680 --> 00:41:14,400 We have an interesting update from Ray Dalio going around. 824 00:41:14,400 --> 00:41:18,680 He is starting to get either rather more bullish on hard 825 00:41:18,680 --> 00:41:23,200 assets or maybe just more extremely bearish on Fiat debt 826 00:41:23,200 --> 00:41:24,920 cycle. So let's get into that. 827 00:41:26,160 --> 00:41:29,280 I want to give a shout out to our partner Let In, the leader 828 00:41:29,280 --> 00:41:32,920 in Bitcoin Back Loans unlock the liquidity in your Bitcoin 829 00:41:32,960 --> 00:41:35,040 without having to sell your Bitcoin. 830 00:41:35,200 --> 00:41:39,560 They've issued $9 billion in loans to over 10,000 customers 831 00:41:39,720 --> 00:41:42,640 since 2018. I absolutely love these guys. 832 00:41:42,760 --> 00:41:45,440 Not only do I have an account with them, but I also have a 833 00:41:45,440 --> 00:41:47,240 loan. And what I love about them is 834 00:41:47,240 --> 00:41:50,080 that there are no monthly payments and you could pay back 835 00:41:50,080 --> 00:41:53,120 the loan at any time. As soon as you send your Bitcoin 836 00:41:53,120 --> 00:41:56,520 as collateral, you'll have cash in your account within 20 24 837 00:41:56,520 --> 00:41:59,960 hours. Over 1005 star customer reviews 838 00:42:00,200 --> 00:42:04,040 and they've never lost a single dollar or SAT of customer money. 839 00:42:04,280 --> 00:42:10,360 Go to learn dot leaden dot IO simply today and you'll get .25% 840 00:42:10,360 --> 00:42:13,480 off your first loan. I want to give a shout out to 841 00:42:13,480 --> 00:42:17,560 our partnersat123.com. Sovereignty isn't just about 842 00:42:17,560 --> 00:42:19,840 your money, it's about your communications too. 843 00:42:19,960 --> 00:42:22,600 When the grid goes down, most people go dark. 844 00:42:22,760 --> 00:42:26,240 Cell towers fail and hurricanes, cyber attacks and blackouts. 845 00:42:26,320 --> 00:42:29,080 But satellite phones, they don't rely on local infrastructure. 846 00:42:29,200 --> 00:42:33,600 Iridium has 77 satellites in orbit, giving you a Direct Line 847 00:42:33,640 --> 00:42:35,680 anywhere in the US, even offshore. 848 00:42:35,760 --> 00:42:38,800 If you hold your own Bitcoin keys, you should hold your own 849 00:42:38,800 --> 00:42:43,040 comstoosat123.com also has everything you need need to 850 00:42:43,040 --> 00:42:46,240 start building your Bitcoin Citadel, Starling, battery 851 00:42:46,240 --> 00:42:50,040 backups, Faraday bags to protect your hardware wallets, and much 852 00:42:50,040 --> 00:42:52,880 much more. It's a one stop shop for anyone 853 00:42:52,880 --> 00:42:55,640 serious about resilience and off grid independence. 854 00:42:55,640 --> 00:42:58,720 Stay connected, stay independent, stay sovereign. 855 00:42:58,840 --> 00:43:04,280 Go to sat123.com/simply today and use promo code simply to get 856 00:43:04,280 --> 00:43:13,240 15% off anything on the store. I want to give a shout out to 857 00:43:13,240 --> 00:43:16,280 our partner Cold Card. If you're serious about self 858 00:43:16,280 --> 00:43:19,280 custody, Cold Card is the best Bitcoin Harbor wallet. 859 00:43:19,320 --> 00:43:22,400 There is no second best. The Cold Card queue is the 860 00:43:22,480 --> 00:43:26,040 ultimate air gap Bitcoin signing device, complete with a full 861 00:43:26,040 --> 00:43:30,600 keyboard, large screen camera, NFC support and much more. 862 00:43:30,800 --> 00:43:35,120 Do you prefer something sleeker? The MK4 is trusted by hardcore 863 00:43:35,120 --> 00:43:39,440 bitcoiners around the world. Both are built by Bitcoiners or 864 00:43:39,440 --> 00:43:42,120 Bitcoiners secure and open source. 865 00:43:42,440 --> 00:43:46,840 Simply Bitcoin viewers get 5% off with promo code Simply take 866 00:43:46,840 --> 00:43:50,320 self custody of your Bitcoin today with Kohl's Card. 867 00:43:54,600 --> 00:43:57,600 You know, I was looking around right now on the ad break and I 868 00:43:57,600 --> 00:44:00,080 was like, I don't have my cold card. 869 00:44:00,520 --> 00:44:02,640 I do. It's in a Faraday bag on our 870 00:44:02,640 --> 00:44:05,600 desk now. Get yourself one of these. 871 00:44:06,120 --> 00:44:07,480 This is. So sexy. 872 00:44:07,600 --> 00:44:14,200 A nice sax 1O2123. 123 Faraday bag Oh, oh, oh, where? 873 00:44:14,480 --> 00:44:17,920 OK, this is the old one, all right, you know, protecting. 874 00:44:18,080 --> 00:44:22,040 Look, I, I did just move from Dallas. 875 00:44:22,040 --> 00:44:23,800 Chris, I haven't told you. I'm going to tell this on air 876 00:44:24,600 --> 00:44:30,240 and I'm, I'm so paranoid, but so like I travelled through to 877 00:44:30,240 --> 00:44:33,080 where were we just was the last conference we were at. 878 00:44:33,080 --> 00:44:37,880 I forget anyways, Oh yeah, yeah. So traveled, so left Dallas, 879 00:44:37,880 --> 00:44:41,480 traveled to Vegas and I didn't want to ship all my stuff, or 880 00:44:42,000 --> 00:44:47,160 rather, I didn't want to ship my my hardware wallets to Miami 881 00:44:47,160 --> 00:44:49,120 like in the case. So I carried them with me. 882 00:44:49,360 --> 00:44:52,320 In your bag. In in my in my carry on bag and 883 00:44:52,320 --> 00:44:55,680 I'm like, dude, I'm going to get so wrecked right now. 884 00:44:55,680 --> 00:44:57,680 This like what am I doing? This sucks. 885 00:44:57,680 --> 00:45:02,320 And then as I'm going, I'm like, wait, is the X-ray machine going 886 00:45:02,320 --> 00:45:03,920 to ruin my hardware? Wallet. 887 00:45:03,920 --> 00:45:05,000 It could. It could. 888 00:45:05,040 --> 00:45:06,320 Right, that's what I was thinking. 889 00:45:06,360 --> 00:45:10,400 So I literally I did this at just put, you know, put my my 890 00:45:10,400 --> 00:45:14,680 hardware wallet in a Faraday bag, shipped it through the 891 00:45:14,680 --> 00:45:18,320 X-ray, you know carried on and it still works. 892 00:45:18,320 --> 00:45:21,240 So you know I did that. I I literally did that guys. 893 00:45:21,240 --> 00:45:23,240 So I'm not just shilling just to shill. 894 00:45:23,400 --> 00:45:27,040 It actually works. OK, anyways, as we were talking 895 00:45:27,040 --> 00:45:30,600 about the death, what's it dude? How am I? 896 00:45:30,600 --> 00:45:33,240 Debt doom Lube. OK, debt doom Lube. 897 00:45:33,240 --> 00:45:35,040 Why? Why am I messing that up today? 898 00:45:35,480 --> 00:45:39,120 Guess just not enough coffee. We've been covering Ray Dalio on 899 00:45:39,120 --> 00:45:43,120 this show for like the last couple of months and it seemed 900 00:45:43,120 --> 00:45:47,200 like slowly but surely he keeps coming closer and closer to 901 00:45:47,200 --> 00:45:50,680 becoming a bitcoiner. He was originally very skeptical 902 00:45:50,680 --> 00:45:53,320 of Bitcoin. Then he kind of dipped into his 903 00:45:53,320 --> 00:45:56,280 toes and was like, you know, I'm not the biggest fan of Bitcoin, 904 00:45:56,480 --> 00:45:59,200 but you should probably just at least hedge your portfolio with 905 00:45:59,200 --> 00:46:02,160 1%. Now he's coming out and saying 906 00:46:02,160 --> 00:46:06,880 you should probably have 15% in hard assets and that is either 907 00:46:06,880 --> 00:46:09,680 Bitcoin or gold. And he's kind of recommending 908 00:46:09,680 --> 00:46:12,480 like, look, I don't care what like how you split that up, but 909 00:46:12,480 --> 00:46:14,440 that should be the recommendation. 910 00:46:14,440 --> 00:46:18,400 So breaking news, Ray Dalio is saying you should buy 15% of 911 00:46:18,400 --> 00:46:23,520 Bitcoin in your portfolios, but let's really breakdown what he's 912 00:46:23,520 --> 00:46:26,480 saying and why he thinks you should be holding Bitcoin. 913 00:46:26,480 --> 00:46:30,520 So on Coin Telegraph, Ray Dalio suggests putting 15% in Bitcoin 914 00:46:30,520 --> 00:46:35,040 gold amid U.S. debt doom Loop Hedge fund manager Ray Dalio 915 00:46:35,040 --> 00:46:39,640 suggests investors put 15% of your portfolio into quote store 916 00:46:39,640 --> 00:46:43,160 value assets amid America's debt crisis. 917 00:46:43,400 --> 00:46:46,840 Now, I think Ray Dalio is kind of historically been more of 918 00:46:46,840 --> 00:46:49,680 like a a chicken little, you know, sky is falling type 919 00:46:49,680 --> 00:46:52,840 person, but he did just drop a new book. 920 00:46:52,840 --> 00:46:55,840 So maybe he's just, you know, shilling his bags here. 921 00:46:55,840 --> 00:46:58,040 Like maybe he's just shilling his product here and he wants 922 00:46:58,040 --> 00:47:01,960 people to read the book. But anyways, whether he's 923 00:47:01,960 --> 00:47:04,600 scamming us into financial freedom or not, the point 924 00:47:04,600 --> 00:47:06,280 remains the same. Ray Dali is saying you should 925 00:47:06,280 --> 00:47:12,240 buy 15% of your portfolio and Bitcoin and going in here, Ray 926 00:47:12,240 --> 00:47:15,160 Dalio has recommended a 15% portfolio allocation into 927 00:47:15,160 --> 00:47:19,280 Bitcoin or gold to optimize for the quote best return to risk 928 00:47:19,280 --> 00:47:23,120 ratio in light of America's crippling debt problem and 929 00:47:23,120 --> 00:47:26,240 currency devaluation quote. If you are optimizing your 930 00:47:26,240 --> 00:47:29,600 portfolio for the best return to risk ratio, you would have about 931 00:47:29,600 --> 00:47:31,960 15% of your money in gold or Bitcoin. 932 00:47:32,360 --> 00:47:35,800 And then he said, of course, you know some Bitcoin, but not too 933 00:47:35,800 --> 00:47:38,000 much. And he still strongly prefers 934 00:47:38,000 --> 00:47:41,520 gold to Bitcoin. I mean he's a boomer, can we 935 00:47:41,520 --> 00:47:43,120 really blame him? Not all boomers are bad. 936 00:47:43,120 --> 00:47:46,200 Again, before you guys start saying that bitcoins are Opti's 937 00:47:46,200 --> 00:47:47,840 in aegis here and he doesn't like boomers. 938 00:47:47,840 --> 00:47:50,720 I love the Bitcoin boomers. I'm just saying it's a lot 939 00:47:50,720 --> 00:47:53,600 easier for him to be like, yeah, I want to hold physical gold 940 00:47:53,600 --> 00:47:57,320 versus like, let me figure out this new tech money thing going 941 00:47:57,320 --> 00:48:00,160 on. Anyways, he says the exact split 942 00:48:00,160 --> 00:48:02,720 between Bitcoin and gold is quote up to you. 943 00:48:02,960 --> 00:48:07,120 His 15% suggestion marked a sharp increase from 1 to 2% 944 00:48:07,120 --> 00:48:11,960 Bitcoin allocation, which he recommended in January 2022. 945 00:48:11,960 --> 00:48:14,840 The issue is the devaluation of money. 946 00:48:15,520 --> 00:48:19,480 Hold on, Dalia said, while pointing out that the US 947 00:48:19,480 --> 00:48:23,080 government will likely need to issue another $12 trillion worth 948 00:48:23,080 --> 00:48:26,960 of Treasury over the next year to service its mounting debt. 949 00:48:26,960 --> 00:48:31,040 Again, guys, the interest payment on our debt is bigger 950 00:48:31,040 --> 00:48:33,400 than the money we spend on our military. 951 00:48:33,400 --> 00:48:36,960 I repeat, the interest payments, just the payments on our 952 00:48:36,960 --> 00:48:41,720 national debt is more than we spend on the US military 953 00:48:41,720 --> 00:48:43,920 industrial complex. It's absolutely nuts. 954 00:48:44,080 --> 00:48:46,400 And that doesn't even account for the unfunded liabilities, 955 00:48:46,400 --> 00:48:48,400 which are in the hundreds of trillions of dollars. 956 00:48:48,400 --> 00:48:52,040 It's absolutely nuts. Anyways, the reason I also 957 00:48:52,040 --> 00:48:54,880 wanted to bring this up, not only because Ray Dalio is a 958 00:48:54,880 --> 00:48:57,440 formidable name. You know, he's, he's a, a 959 00:48:57,440 --> 00:49:01,400 maverick in his space. He is a well known person, but 960 00:49:01,680 --> 00:49:05,280 he is kind of confirming what I and Mark Moss has been saying 961 00:49:05,280 --> 00:49:06,760 about U.S. Treasuries. 962 00:49:06,760 --> 00:49:09,240 And in reality, what what we've been kind of saying about 963 00:49:09,240 --> 00:49:14,040 stablecoins, expanding the money supply stealthily, silently, so 964 00:49:14,040 --> 00:49:16,840 that people on Main Street that traditional investors don't 965 00:49:16,840 --> 00:49:20,640 realize that their currencies, their purchasing power is being 966 00:49:20,640 --> 00:49:23,320 destroyed. They have to inflate their way 967 00:49:23,320 --> 00:49:26,000 out of this. So AUS Treasury report released 968 00:49:26,000 --> 00:49:29,800 on Monday projected another $1 trillion in new borrowing in the 969 00:49:29,800 --> 00:49:33,040 third quarter due to weaker cash flows and lower reserves. 970 00:49:33,160 --> 00:49:35,640 Again, it took the USI forget what the number is, someone can 971 00:49:35,640 --> 00:49:37,960 Fact Check me. But it took the USI believe like 972 00:49:37,960 --> 00:49:42,200 100 plus years to get to a trillion dollars in debt and now 973 00:49:42,200 --> 00:49:45,200 we are about to issue that in just the third quarter alone. 974 00:49:45,560 --> 00:49:49,600 It really is why I'm our vibes. I don't know man, it really is 975 00:49:50,040 --> 00:49:53,000 when government kills money in real time. 976 00:49:53,240 --> 00:49:57,120 The Treasury also expects to borrow $590 billion in Q4, added 977 00:49:57,120 --> 00:50:00,000 to the US government's growing reliance on debt to fund budget 978 00:50:00,000 --> 00:50:03,000 expenses and worsening concerns about its future physical path. 979 00:50:03,320 --> 00:50:06,640 So what we're telling you guys, this is this is literally the 980 00:50:06,640 --> 00:50:10,360 main signal that most people, I think on mainstream, your 981 00:50:10,360 --> 00:50:12,720 friends and your family do not understand. 982 00:50:12,720 --> 00:50:16,680 They have to continue to issue more debt just to keep the 983 00:50:16,680 --> 00:50:18,280 freaking machine going. Guys. 984 00:50:18,280 --> 00:50:20,360 This is the only way it's working right now. 985 00:50:20,960 --> 00:50:23,720 It cannot be stopped. They have to continue to issue 986 00:50:23,720 --> 00:50:25,640 debt. Dalia noted that other Western 987 00:50:25,640 --> 00:50:29,320 countries, including the UK, face the same debt doom loop 988 00:50:29,320 --> 00:50:31,600 issue. Hence why me and Chris were just 989 00:50:31,600 --> 00:50:34,840 debating that the British pound is over guys, and that their 990 00:50:34,840 --> 00:50:37,800 currencies will continue to underperform relative to hard 991 00:50:37,800 --> 00:50:40,680 currencies like Bitcoin and gold, which he described as an 992 00:50:40,680 --> 00:50:44,360 effective, diversified dude. We've gone so long, so far in 993 00:50:44,360 --> 00:50:46,560 the last, I would say six months. 994 00:50:47,360 --> 00:50:50,240 Bitcoin is now, you know, an effective diversifier. 995 00:50:50,360 --> 00:50:52,760 It's a hard currency. It's going to protect yourself 996 00:50:52,760 --> 00:50:55,680 from debt, doom loops. It's the best money out there. 997 00:50:55,680 --> 00:50:57,320 You do not want to be holding currencies. 998 00:50:57,960 --> 00:51:01,040 It is, it is. It's like common knowledge at 999 00:51:01,040 --> 00:51:03,400 this point. Well, it's not too common cause 1000 00:51:03,400 --> 00:51:05,720 still a lot of people don't understand what's going on. 1001 00:51:05,840 --> 00:51:08,560 He does say he's skeptical about Bitcoin becoming a reserve 1002 00:51:08,560 --> 00:51:10,240 currency. He's talking about recent highs, 1003 00:51:10,240 --> 00:51:13,680 etcetera, but the point remains the same. 1004 00:51:13,920 --> 00:51:18,000 We are seeing a coming crisis. It might not happen this year. 1005 00:51:18,160 --> 00:51:21,080 It might take 10 years. It might take 20 years for this 1006 00:51:21,080 --> 00:51:23,200 to play out. But point remains the same. 1007 00:51:23,200 --> 00:51:26,320 If you are holding Fiat currencies at this point, your 1008 00:51:26,320 --> 00:51:27,800 purchasing power is going to get destroyed. 1009 00:51:28,600 --> 00:51:30,400 And I really like Matt Hogan's take right here. 1010 00:51:30,400 --> 00:51:33,840 So what's this? Rick Edelman last week, 2 weeks 1011 00:51:33,840 --> 00:51:37,000 ago says you should probably hold about 10 to 40% of your 1012 00:51:37,000 --> 00:51:40,960 portfolio in Bitcoin. And this week Ray Dalio says 15% 1013 00:51:40,960 --> 00:51:46,160 of your portfolio in Bitcoin and you, the viewer are still at 0. 1014 00:51:46,160 --> 00:51:51,120 What is going on Guys like you you we're on YouTube, so I got 1015 00:51:51,120 --> 00:51:57,000 to be nice, but get all your stuff together get it out of the 1016 00:51:57,000 --> 00:52:01,160 dark place in your behind and start saving in Bitcoin. 1017 00:52:01,160 --> 00:52:03,200 You need to understand what's going on in Bitcoin. 1018 00:52:03,200 --> 00:52:07,320 It's it's literally a necessity now you you don't have the 1019 00:52:07,320 --> 00:52:10,920 luxury of ignoring Bitcoin at this point, especially when 1020 00:52:10,920 --> 00:52:13,920 nation states biggest institution sovereign wealth 1021 00:52:13,920 --> 00:52:18,680 funds, basically every corporate institution is looking into it. 1022 00:52:19,000 --> 00:52:23,200 If you are still on the sidelines, you're literally that 1023 00:52:23,200 --> 00:52:24,800 you're not, you're not going to make it. 1024 00:52:24,800 --> 00:52:26,880 I'm sorry. It's just NGMI not going to make 1025 00:52:26,880 --> 00:52:29,600 it. Was it Jay yesterday? 1026 00:52:29,760 --> 00:52:32,480 He said some crazy, crazy meme that I really like. 1027 00:52:32,480 --> 00:52:35,360 He's like, if you're not buying Bitcoin today, you're going to 1028 00:52:35,360 --> 00:52:37,320 be working for someone that has bought Bitcoin. 1029 00:52:37,400 --> 00:52:38,880 I'm going to double down on that. 1030 00:52:39,440 --> 00:52:41,920 That's bars. I think that's absolute bars and 1031 00:52:41,920 --> 00:52:43,520 I think that's the future we're going towards. 1032 00:52:43,520 --> 00:52:48,440 Anyways. I ramble long enough, Chris, I 1033 00:52:48,440 --> 00:52:51,200 know you were kind of like a before you got into Bitcoin, you 1034 00:52:51,200 --> 00:52:54,000 watch macro stuff. So what's the significance to 1035 00:52:54,000 --> 00:52:58,960 you about Ray Dalio upping his portfolio allotment to Bitcoin 1036 00:52:58,960 --> 00:53:03,200 from 1 to 2% to 15%? Dude, we're making, we're inch 1037 00:53:03,200 --> 00:53:05,280 by inch. We are taking over the world. 1038 00:53:05,880 --> 00:53:08,440 I'd say it's huge to put it into perspective. 1039 00:53:08,440 --> 00:53:11,840 Like there's the big hedge fund managers of the world or the 1040 00:53:11,840 --> 00:53:14,680 big, you know, big money guys in the world, and there's Warren 1041 00:53:14,680 --> 00:53:17,480 Buffett probably as one. And then there's Ray Dalio at #2 1042 00:53:17,480 --> 00:53:19,880 and I really mean that maybe Carl Icahn, the guy that 1043 00:53:20,160 --> 00:53:24,840 popularized investing in S&P 500 index with Vanguard funds. 1044 00:53:24,840 --> 00:53:27,520 So like maybe those are like the big three, the Mount Rushmore. 1045 00:53:27,680 --> 00:53:29,040 Maybe you could add a fourth one on there. 1046 00:53:29,040 --> 00:53:32,000 But like when you think of like the guys when it comes to money, 1047 00:53:32,000 --> 00:53:33,800 Ray Dalio is probably one of the largest ever. 1048 00:53:34,160 --> 00:53:38,000 Obviously, he has famous books on or he has the famous YouTube 1049 00:53:38,000 --> 00:53:40,680 video on how the economic machine works. 1050 00:53:40,880 --> 00:53:43,120 It's and like millions of people have watched at this point. 1051 00:53:43,120 --> 00:53:45,960 It's actually a really great way of talking about how money gets 1052 00:53:45,960 --> 00:53:48,560 into the system, obviously with debt and treasury bonds and 1053 00:53:48,560 --> 00:53:51,480 central bank, like obviously for a for a bitcoiner, many 1054 00:53:51,480 --> 00:53:53,720 bitcoiners know this because we've been taught it or we've 1055 00:53:53,720 --> 00:53:56,200 learned it in our studies. But it's a great thing for 1056 00:53:56,200 --> 00:53:59,240 normies to kind of just slowly orange peel them into the world 1057 00:53:59,240 --> 00:54:01,440 of macroeconomics. And then now you've got Ray 1058 00:54:01,440 --> 00:54:04,240 Dalio backing it up with talk of instead of one to two percent, 1059 00:54:04,240 --> 00:54:06,200 15% saying that you should get into Bitcoin. 1060 00:54:06,320 --> 00:54:08,400 So I really respect Ray Dalio a lot. 1061 00:54:08,480 --> 00:54:10,920 I know many people have gripes with him because he's very pro 1062 00:54:10,920 --> 00:54:13,440 China. What was his last book Opti? 1063 00:54:13,440 --> 00:54:15,640 It was basically talking about the ever changing world order 1064 00:54:15,720 --> 00:54:18,480 and he talked about the US is a falling power where China's the 1065 00:54:18,480 --> 00:54:21,640 rising power and historically when those two meet and cross, 1066 00:54:21,800 --> 00:54:26,040 the rising power normally always wins and it runs in 250 year 1067 00:54:26,040 --> 00:54:28,080 cycles. Obviously the US is coming up on 1068 00:54:28,360 --> 00:54:33,760 250 years next year. So basically he was saying the 1069 00:54:33,760 --> 00:54:35,720 US has a falling power, China has a rising power, and that 1070 00:54:35,720 --> 00:54:39,360 China will usurp the US eventually and become the global 1071 00:54:39,520 --> 00:54:42,880 dominant world power at #1 obviously, you know, the British 1072 00:54:42,880 --> 00:54:45,920 empires before us and Spain and, you know, all the different 1073 00:54:45,920 --> 00:54:47,800 empires before that. And that's kind of the thesis of 1074 00:54:47,800 --> 00:54:49,320 his book. But maybe he's changing. 1075 00:54:49,320 --> 00:54:51,360 Maybe he's pivoting and seeing, you know, the sovereign 1076 00:54:51,360 --> 00:54:54,600 individual or Bitcoin being the rising power or the digital 1077 00:54:54,600 --> 00:54:57,440 nomad or the freedom oriented person. 1078 00:54:57,440 --> 00:55:00,600 But yeah, when Ray Dalio talks, many people, maybe not 1079 00:55:00,640 --> 00:55:03,160 Bitcoiners, listen to him. But Wall Street takes notice 1080 00:55:03,160 --> 00:55:05,240 when Ray Dalio speaks. Yeah, totally. 1081 00:55:05,240 --> 00:55:08,080 And that like I know a lot of Bitcoiners do the like slay your 1082 00:55:08,080 --> 00:55:12,160 heroes meme and they're very we're like in a wide sell 1083 00:55:12,160 --> 00:55:14,240 immunity. We we literally tear down 1084 00:55:14,240 --> 00:55:19,000 everyone but Main St. normies. They're completely different. 1085 00:55:19,000 --> 00:55:22,480 It's like they wait for these signals until they start to 1086 00:55:22,480 --> 00:55:24,480 embrace something. You know, it, it is a kind of 1087 00:55:24,480 --> 00:55:28,680 herd mentality over there. And Chris, to to your point, 1088 00:55:28,680 --> 00:55:32,040 let's let's read Ray Dalio's book titles because they are 1089 00:55:32,040 --> 00:55:36,000 like, they are progressively getting crazier in like in like 1090 00:55:36,000 --> 00:55:38,320 a a good way, guys, not like he's losing his mind. 1091 00:55:38,320 --> 00:55:41,440 So first one in O7, how the economic machine works at 1092 00:55:41,440 --> 00:55:43,320 template for understanding what is happening now. 1093 00:55:43,680 --> 00:55:46,960 Great title. Principles life of work 2017 is 1094 00:55:46,960 --> 00:55:49,040 most famous. It's kind of OK, whatever. 1095 00:55:49,600 --> 00:55:54,000 Next book 2018, principles for navigating big, big debt crises 1096 00:55:54,600 --> 00:55:57,760 in 2021, principles for dealing with the changing world order, 1097 00:55:57,760 --> 00:56:02,080 why nations succeed and fail. And then the one this year, how 1098 00:56:02,080 --> 00:56:06,120 countries go broke. The big cycle bro. 1099 00:56:07,240 --> 00:56:09,800 I don't know if he's just caught up in the doom loop, but. 1100 00:56:09,880 --> 00:56:11,600 So what's his next book? Buy Bitcoin. 1101 00:56:11,720 --> 00:56:15,440 Don't get fucked. What's that? 1102 00:56:15,440 --> 00:56:20,840 No, he does the All right, so principles for how governments 1103 00:56:20,920 --> 00:56:23,680 broke money, you should buy Bitcoin. 1104 00:56:24,360 --> 00:56:26,600 Yeah, I'll take a royalty on that one, Ray Dalio. 1105 00:56:27,080 --> 00:56:30,400 All right, anyways, let's get into the culture because Chris 1106 00:56:30,400 --> 00:56:33,520 and I, Chris actually started the show with this question. 1107 00:56:33,840 --> 00:56:36,400 And I think it's a very interesting question because 1108 00:56:36,400 --> 00:56:38,320 I've been wondering the same thing and I and I got some 1109 00:56:38,320 --> 00:56:41,760 tweets that kind of lay lay the context here. 1110 00:56:43,520 --> 00:56:46,440 I want to give a shout out to our partner Hive Digital 1111 00:56:46,440 --> 00:56:50,440 Technology. Why Hive in 2025, unstoppable 1112 00:56:50,440 --> 00:56:54,760 growth as the first ever public miner, Hive's position to 1113 00:56:54,760 --> 00:56:57,840 quadruple their global footprint, making them one of 1114 00:56:57,840 --> 00:57:00,800 the world's fastest growing miners in 2025. 1115 00:57:01,080 --> 00:57:04,800 And with elite operations that consistently topped the industry 1116 00:57:04,960 --> 00:57:08,640 in Bitcoin mine, per Exahash. Hive's now headquartered in the 1117 00:57:08,640 --> 00:57:10,560 USA. They're lean and mean. 1118 00:57:10,720 --> 00:57:14,120 They're green and clean, and they're rewriting the playbook 1119 00:57:14,200 --> 00:57:18,600 on sustainable Bitcoin mining. You can catch the latest buzz at 1120 00:57:18,600 --> 00:57:22,680 Hive Digital Tech or at Hive digitaltech.com. 1121 00:57:28,080 --> 00:57:31,440 I want to give a shout out to our partner Bitcoin Ben dot IO. 1122 00:57:31,880 --> 00:57:35,400 If you're into freedom Bitcoin and building a real community, 1123 00:57:35,440 --> 00:57:38,920 this is for you. Gain exclusive access to real 1124 00:57:38,920 --> 00:57:43,880 world members only private clubs across the globe featuring poker 1125 00:57:43,880 --> 00:57:48,320 nights, expert LED classes, Co working spaces, educational meet 1126 00:57:48,320 --> 00:57:52,080 ups, live events and more. Current locations include 1127 00:57:52,200 --> 00:57:56,600 Sarasota, Nashville, Boston, Dallas, Las Vegas and Saint 1128 00:57:56,600 --> 00:58:00,560 Louis, with new clubs launching soon in West Palm Beach, 1129 00:58:00,720 --> 00:58:05,560 Scottsdale, Alabama and beyond, not to mention Bitcoin Bends 1130 00:58:05,680 --> 00:58:08,800 Resorts and El Salvador. There's three of them and 1131 00:58:08,800 --> 00:58:11,960 they're absolutely beautiful. You'll also get access to the 1132 00:58:11,960 --> 00:58:17,560 first fully backed Bitcoin bank with Fiat ramps and savings 1133 00:58:17,560 --> 00:58:20,840 account. It's called private KeyBank and 1134 00:58:20,840 --> 00:58:23,360 you guessed it, it's based out of El Salvador. 1135 00:58:23,520 --> 00:58:28,000 Go peer-to-peer with Bitcoin bulk buys, tap into home equity 1136 00:58:28,000 --> 00:58:31,440 for long term Bitcoin growth and join their exclusive mining 1137 00:58:31,440 --> 00:58:33,040 pools. If you're interested in mining, 1138 00:58:33,160 --> 00:58:36,720 what are you waiting for? Head over to Bitcoin bend dot IO 1139 00:58:36,960 --> 00:58:39,800 Join today where Bitcoin needs freedom. 1140 00:58:44,760 --> 00:58:48,280 All right guys, before I lay this down, shout out to Chris 1141 00:58:48,600 --> 00:58:53,240 for the 10 lbs for the 10 Great Britain pounds and he says we 1142 00:58:53,240 --> 00:58:57,240 got this Ron Opti get some sexy sats appreciate it and shout out 1143 00:58:57,240 --> 00:59:00,440 to Ron for peer pressuring you guys into sending us a super 1144 00:59:00,440 --> 00:59:02,160 chat. Oh man, love you guys. 1145 00:59:02,160 --> 00:59:04,800 This, this is so much fun. The the chat's fun today. 1146 00:59:04,800 --> 00:59:06,280 You guys are being nice. I like it. 1147 00:59:06,800 --> 00:59:09,480 You don't you guys don't have me crashing out over the chat 1148 00:59:09,800 --> 00:59:14,240 anyways anyways, before Chris asked the question this morning, 1149 00:59:14,240 --> 00:59:17,800 I actually wanted to talk about this yesterday on the show, but 1150 00:59:17,800 --> 00:59:21,560 we had a guest and so I wasn't able to bring it up, but this 1151 00:59:21,560 --> 00:59:24,400 tweet was making the round and it actually sparked a huge 1152 00:59:24,400 --> 00:59:27,560 debate on Twitter. It it pretty much went viral 1153 00:59:27,560 --> 00:59:31,120 within our circle and it's this idea of whether Bitcoin has been 1154 00:59:31,120 --> 00:59:34,600 Co opted and what is going on with a lot of these old Bitcoin 1155 00:59:34,600 --> 00:59:37,720 wallets from 2011, 2014 selling their Bitcoin. 1156 00:59:38,000 --> 00:59:42,720 Well, Scott Melker, the wolf of all all streets, kind of an 40 a 1157 00:59:42,720 --> 00:59:45,040 shit corner to to be completely honest here. 1158 00:59:45,040 --> 00:59:47,800 But you know, he he claims to be a Bitcoiner. 1159 00:59:47,800 --> 00:59:50,040 So we'll we'll give him the benefit of the doubt here. 1160 00:59:50,040 --> 00:59:54,400 Anyways, he tweeted this and it really sparked the debate on 1161 00:59:54,400 --> 00:59:55,520 Twitter. So it goes. 1162 00:59:55,840 --> 00:59:59,240 I continue to ask my guest quote who's selling Bitcoin? 1163 00:59:59,680 --> 01:00:02,160 And he goes. The answer from those who have 1164 01:00:02,160 --> 01:00:05,360 been here since the beginning, like Eden Yago and Bruce Fenton 1165 01:00:05,360 --> 01:00:08,080 is always the same. Early whales who are here for 1166 01:00:08,080 --> 01:00:10,600 the freedom and libertarian ideals who have thrown in the 1167 01:00:10,600 --> 01:00:12,880 towel because they see their community cheering the 1168 01:00:12,880 --> 01:00:16,320 government and Wall Street. It's an entirely new ball game 1169 01:00:16,320 --> 01:00:19,840 now and then going further. Bruce Fenton tweeted have a 1170 01:00:19,840 --> 01:00:21,600 listen. The world isn't supposed to be 1171 01:00:21,600 --> 01:00:24,160 like this. Bitcoin and this tech has power 1172 01:00:24,160 --> 01:00:27,200 to increase freedom instead or become more suburbian to 1173 01:00:27,280 --> 01:00:31,240 tyrants, AM LKYC accredited investors rules, etcetera 1174 01:00:31,240 --> 01:00:34,160 etcetera. It's all immoral tyranny and 1175 01:00:34,160 --> 01:00:37,840 unethical. Bring back the cipher punks and 1176 01:00:37,840 --> 01:00:41,840 then Scott follows this up a little later and he goes Bitcoin 1177 01:00:41,840 --> 01:00:45,320 is amazing, but it's obviously been Co opted to some degree by 1178 01:00:45,320 --> 01:00:48,760 the very people that it was created as a hedge against many 1179 01:00:48,760 --> 01:00:52,640 of the most ardent early whales have seen their faith shaken and 1180 01:00:52,640 --> 01:00:57,640 have been selling at this price and then the Bitcoin kind of 1181 01:00:57,640 --> 01:01:00,440 response to this. You can see Matt Hogan down 1182 01:01:00,440 --> 01:01:01,640 here. He's I get I get this, but 1183 01:01:01,640 --> 01:01:03,160 bitcoin's still pretty revolutionary. 1184 01:01:03,160 --> 01:01:05,720 It's the first global money back, not by the state and the 1185 01:01:05,720 --> 01:01:08,760 threat of violence, but by by logic and community respect to 1186 01:01:08,760 --> 01:01:11,520 the early whales and let's keep building the world needs more 1187 01:01:11,520 --> 01:01:14,320 Bitcoin or the world needs Bitcoin more than ever. 1188 01:01:14,600 --> 01:01:18,680 We have Alex Gladstein go no technical aspect of Bitcoin has 1189 01:01:18,680 --> 01:01:22,000 been quote Co opted. The network remains cyberpunk 1190 01:01:22,000 --> 01:01:23,760 and the tools get more so by the day. 1191 01:01:23,760 --> 01:01:27,400 Despite or even I would argue because of mainstream mainstream 1192 01:01:27,400 --> 01:01:29,640 adoption. Major challenges around 1193 01:01:29,640 --> 01:01:32,480 education, mining, decentralization, privacy 1194 01:01:32,480 --> 01:01:36,720 remain, but Co opted no. And then we have Pierre Roche 1195 01:01:36,800 --> 01:01:40,040 Shard quote tweeting that and he goes, you still have the freedom 1196 01:01:40,040 --> 01:01:44,120 to generate private keys, derive public addresses, contribute 1197 01:01:44,120 --> 01:01:47,440 hash rate, operate in mining pool and verify with a full 1198 01:01:47,480 --> 01:01:50,880 Bitcoin node. Early adopters got psyopped into 1199 01:01:50,880 --> 01:01:53,480 selling. Be grateful they gave buyers a 1200 01:01:53,480 --> 01:01:57,600 better entry point. Now I am kind of on the lines of 1201 01:01:57,600 --> 01:02:01,280 what Piero Shard is saying and we actually got a very good 1202 01:02:01,280 --> 01:02:03,960 comment in the chat. Let me see if I can find it real 1203 01:02:03,960 --> 01:02:05,640 quick. While while you're looking for. 1204 01:02:05,760 --> 01:02:06,600 It. Yeah, go for it. 1205 01:02:06,800 --> 01:02:08,440 I'll I'll kind of comment on this. 1206 01:02:08,640 --> 01:02:10,480 So it's very funny. It's like, OK, so they're 1207 01:02:10,480 --> 01:02:12,040 selling, but they're selling for what? 1208 01:02:12,200 --> 01:02:14,240 U.S. dollars? I give up the towel. 1209 01:02:14,240 --> 01:02:16,600 I throw in. So this great Internet money, as 1210 01:02:16,600 --> 01:02:18,640 Pierre Richard says, you can generate an address, you can 1211 01:02:18,640 --> 01:02:20,400 send it peer-to-peer without being stopped. 1212 01:02:20,640 --> 01:02:23,920 I'm selling it for U.S. dollars. You know, that's, you know, I'm 1213 01:02:23,920 --> 01:02:26,520 throwing in the towel because this this has been Co opted. 1214 01:02:26,520 --> 01:02:28,840 So I'm going to use something that's not Co opted, like the US 1215 01:02:28,840 --> 01:02:30,840 dollar or let's just even give them the benefit of the doubt. 1216 01:02:30,840 --> 01:02:33,120 Let's say they're using another cryptocurrency. 1217 01:02:33,160 --> 01:02:35,680 So they're losing purchasing power relative to holding just 1218 01:02:35,680 --> 01:02:37,320 Bitcoin. That doesn't make any sense. 1219 01:02:37,320 --> 01:02:39,280 So yeah, maybe they're disheartened. 1220 01:02:39,480 --> 01:02:43,080 Maybe they're selling, but also can we just say like, point this 1221 01:02:43,080 --> 01:02:44,920 out loud? Maybe they're just living life. 1222 01:02:44,960 --> 01:02:47,880 It's like, hey, I'm a billionaire or worth multiple 1223 01:02:47,880 --> 01:02:49,960 millions. Maybe I'm just selling it to 1224 01:02:49,960 --> 01:02:52,680 live my life. I'm selling Bitcoin or using 1225 01:02:52,680 --> 01:02:55,960 Bitcoin as a currency to buy goods and services to make my 1226 01:02:55,960 --> 01:02:58,800 life better. Buying a house, buying a car, 1227 01:02:58,920 --> 01:03:01,040 going on vacation. They're spending it, you know, 1228 01:03:01,040 --> 01:03:04,080 so maybe they're quote UN quote selling it, but I don't think 1229 01:03:04,080 --> 01:03:06,720 they're like just like they're selling it in a fit of rage. 1230 01:03:06,840 --> 01:03:08,920 They're like, I'm growing in the towel. 1231 01:03:08,920 --> 01:03:11,800 I'm I'm I'm cashing in my millions or billions or whatever 1232 01:03:11,800 --> 01:03:14,640 it is, and then I'm just going to hold the US dollar from here 1233 01:03:14,640 --> 01:03:16,520 until the end of time. I mean, they can do that, but 1234 01:03:16,520 --> 01:03:20,920 that just seems so counter. So Oh, I was so full libertarian 1235 01:03:21,040 --> 01:03:23,440 or early cypherpunk, and now I've just thrown in the towel. 1236 01:03:23,440 --> 01:03:25,000 It's like you can just do things. 1237 01:03:25,120 --> 01:03:26,520 You don't need to wait for permission. 1238 01:03:26,520 --> 01:03:30,600 It's like if you're so hell bent on KYC, AM L create a non KYC 1239 01:03:30,600 --> 01:03:32,520 way of selling and trading Bitcoin. 1240 01:03:32,520 --> 01:03:33,880 It's like, oh, but there's risk to that. 1241 01:03:33,960 --> 01:03:35,160 Obviously there's risk to anything. 1242 01:03:35,160 --> 01:03:37,080 There's risk to walking outside your house. 1243 01:03:37,080 --> 01:03:40,120 So I I don't buy this whole like throwing in the towel, giving 1244 01:03:40,120 --> 01:03:42,440 up. Yeah, one of the greatest quotes 1245 01:03:42,520 --> 01:03:47,480 that was said by Jeff Booth is the worst thing about Bitcoin is 1246 01:03:47,480 --> 01:03:50,680 it is going to be used by the person you hate this most in 1247 01:03:50,680 --> 01:03:52,520 this world. What that basically means is 1248 01:03:52,600 --> 01:03:55,160 Bitcoin is for anyone. Anyone can use it. 1249 01:03:55,160 --> 01:03:57,360 And there's nothing you can freaking do to stop it. 1250 01:03:57,480 --> 01:03:59,400 You can be the most powerful dictator in the world. 1251 01:03:59,400 --> 01:04:01,320 You can be the most powerful government in the world, and 1252 01:04:01,320 --> 01:04:04,200 there's nothing you can do to stop it, barring just killing 1253 01:04:04,200 --> 01:04:05,840 them. And like that's, that's a world 1254 01:04:05,840 --> 01:04:08,600 that gets very scary. I think it's very civil unrest. 1255 01:04:08,600 --> 01:04:10,240 Normally politicians don't like that. 1256 01:04:10,320 --> 01:04:13,200 So while governments or dictators do that, normally 1257 01:04:13,200 --> 01:04:15,480 there's huge revolutions. And normally it is not a good 1258 01:04:15,480 --> 01:04:17,800 time to be a politician or government official in that. 1259 01:04:17,920 --> 01:04:20,360 I'm not advocating for violence. I hope that does not happen. 1260 01:04:20,520 --> 01:04:22,920 But Bitcoin is a peaceful way to opt out to prevent that from 1261 01:04:22,920 --> 01:04:24,600 happening. I'll end my rant right there. 1262 01:04:24,680 --> 01:04:26,400 Sorry, Opie. No, it was great. 1263 01:04:26,400 --> 01:04:28,960 It was great because it just it took me this long to find that 1264 01:04:28,960 --> 01:04:31,200 comment. So it was a perfect rat and we 1265 01:04:31,200 --> 01:04:34,120 all will continue to chat on this for a little bit, but I 1266 01:04:34,120 --> 01:04:36,440 can't pull up the comment because it was too far lost. 1267 01:04:36,440 --> 01:04:38,720 It's too far up and it got lost on our on our streaming 1268 01:04:38,720 --> 01:04:41,160 platform. But skip on down the road says 1269 01:04:41,160 --> 01:04:44,000 separation of money and state is about the creation of money and 1270 01:04:44,000 --> 01:04:46,160 not who buys slash holds the money. 1271 01:04:46,360 --> 01:04:49,320 And I I think that's like the best way to sum this up right 1272 01:04:49,320 --> 01:04:52,880 now. Now my take is, is obviously on 1273 01:04:52,880 --> 01:04:56,360 the same lines as what Chris has been saying and what like Pierre 1274 01:04:56,360 --> 01:05:00,440 Rochard's been saying. Like, yes, there is a part of me 1275 01:05:00,880 --> 01:05:04,520 that feels kind of icky. Like feel like it feels like 1276 01:05:04,520 --> 01:05:06,880 there's a cognitive dissonance going on, at least in the 1277 01:05:06,880 --> 01:05:09,760 beginning of when we saw BlackRock kind of coming into 1278 01:05:09,760 --> 01:05:12,160 Bitcoin. It's like it feels weird 1279 01:05:12,160 --> 01:05:15,520 cheering on the BlackRock ETF And then you realize like the 1280 01:05:15,520 --> 01:05:18,360 best performing asset or even kind of watching what Sailor is 1281 01:05:18,360 --> 01:05:21,800 doing with all these different product offerings like strike 1282 01:05:21,800 --> 01:05:26,880 stride, stretch, all this stuff. Even my initial take on like 1283 01:05:26,880 --> 01:05:30,680 what stablecoins were doing and like, I think even Mark Goodwin 1284 01:05:30,680 --> 01:05:32,440 would kind of say the same thing. 1285 01:05:32,440 --> 01:05:34,520 Now he's like, look, I never said it was a bad thing. 1286 01:05:34,520 --> 01:05:36,600 I I just said this is what's going to happen. 1287 01:05:36,920 --> 01:05:40,640 And I think what skip down on the road is saying is I think 1288 01:05:40,640 --> 01:05:46,120 that like the the biggest signal here is like we we can't really 1289 01:05:46,120 --> 01:05:49,000 control who buys Bitcoin, but they aren't Co opting the 1290 01:05:49,000 --> 01:05:51,360 network. Yes, we saw the Black Rock kind 1291 01:05:51,360 --> 01:05:56,240 of what was that, that disclaimer that, you know, we 1292 01:05:56,240 --> 01:06:00,160 can choose which chain we are on and we all freaked out. 1293 01:06:02,080 --> 01:06:05,400 I don't think that what Scott is saying. 1294 01:06:05,400 --> 01:06:07,160 I think that could be a a general take. 1295 01:06:07,160 --> 01:06:09,600 Like I do think some people probably are selling their 1296 01:06:09,600 --> 01:06:11,600 Bitcoin and I see it in the chat all the time too. 1297 01:06:11,840 --> 01:06:14,360 You know, they they'll yell at us as like, how are Nico and 1298 01:06:14,360 --> 01:06:17,560 Opti cheering on banks and and nation states buying Bitcoin? 1299 01:06:17,560 --> 01:06:19,960 It's like, well, first of all, we're not cheering them on. 1300 01:06:19,960 --> 01:06:23,120 This is a news show and this is what the recent news is around 1301 01:06:23,120 --> 01:06:24,560 Bitcoin. So we have to cover it every 1302 01:06:24,560 --> 01:06:28,680 single day. But I don't think that the 1303 01:06:29,520 --> 01:06:31,760 network itself has been Co opted. 1304 01:06:31,760 --> 01:06:34,720 And to answer your question in the beginning of the show, 1305 01:06:34,720 --> 01:06:38,120 Chris, it was something on the lines of is Bitcoin a Trojan 1306 01:06:38,120 --> 01:06:41,600 horse here? And I I totally believe it. 1307 01:06:41,600 --> 01:06:44,680 And actually someone's kind of like low key trolling me in in 1308 01:06:44,680 --> 01:06:46,200 the chat. But like in, in the in the good 1309 01:06:46,200 --> 01:06:47,720 ways, like Bitcoin makes you smarter. 1310 01:06:47,720 --> 01:06:50,120 You guys are talking about money in a way that you used to not 1311 01:06:50,120 --> 01:06:51,840 even understand. It's like, yeah, we've been 1312 01:06:51,840 --> 01:06:56,200 learning on the job with a lot of the new product announcements 1313 01:06:56,200 --> 01:07:01,560 by like Saylor himself and with what's going on around the US 1314 01:07:01,600 --> 01:07:05,400 embracing Bitcoin, the the political sphere around Bitcoin 1315 01:07:05,640 --> 01:07:09,000 and them also kind of embracing stable coins, having to go down 1316 01:07:09,000 --> 01:07:11,760 the Mark Goodwin Bitcoin dollar rabbit hole. 1317 01:07:12,040 --> 01:07:14,560 All this stuff has. And you know, the doom loop 1318 01:07:14,560 --> 01:07:18,200 stuff, the Larry Leopard's of the world, the Lynn Alden's of 1319 01:07:18,200 --> 01:07:21,280 the world. It does start to kind of open 1320 01:07:21,280 --> 01:07:23,320 your eyes on what is actually going on. 1321 01:07:23,320 --> 01:07:26,280 And I think I saw Jimmy, Jimmy Song tweet this morning. 1322 01:07:26,280 --> 01:07:29,400 He's like, look, when I got into Bitcoin 1015 years ago, I didn't 1323 01:07:29,400 --> 01:07:31,640 think it would go this way. But I don't necessarily think 1324 01:07:31,640 --> 01:07:34,480 it's a bad thing. Like this is where we are. 1325 01:07:34,720 --> 01:07:37,600 And there's still a long time to, you know, quote UN quote, 1326 01:07:37,600 --> 01:07:41,160 like course correct here. But even with that, I think even 1327 01:07:41,160 --> 01:07:43,920 originally, if you look at what, what was the, how Finney tweet, 1328 01:07:43,920 --> 01:07:46,160 it was literally like 2 weeks after Bitcoin was created. 1329 01:07:46,160 --> 01:07:49,640 He's like, there will be Bitcoin banks that are fully reserved, 1330 01:07:49,680 --> 01:07:52,360 some that aren't like Wall Street's going to get in here 1331 01:07:52,360 --> 01:07:54,400 and they're going to take this thing to $10 million. 1332 01:07:54,640 --> 01:08:00,400 I think even some of the more insightful and far like open 1333 01:08:00,400 --> 01:08:02,200 minded. I, I don't know if open minded 1334 01:08:02,200 --> 01:08:07,040 is the right word, but more far seeing early crypto cipherfunks 1335 01:08:07,040 --> 01:08:10,240 here could see that this was where it was going to go. 1336 01:08:10,240 --> 01:08:12,240 Inevitably. Like if we are really going to 1337 01:08:12,240 --> 01:08:15,760 take over the world in, in the terms of like all capital is 1338 01:08:15,760 --> 01:08:19,080 going to flow into Bitcoin, then there will be kind of these 1339 01:08:19,080 --> 01:08:21,279 bridges from the Fiat system into Bitcoin. 1340 01:08:21,279 --> 01:08:24,720 And I don't necessarily think that that is, you know, quote UN 1341 01:08:24,720 --> 01:08:28,359 quote Co opting Bitcoin. I think that that's how you get 1342 01:08:28,359 --> 01:08:31,840 capital into Bitcoin. I think we we and I'm I don't 1343 01:08:31,840 --> 01:08:34,319 want to use we because I wasn't here in the early days. 1344 01:08:34,319 --> 01:08:37,720 You know, I'm not Satoshi, but from the earliest stuff that I 1345 01:08:37,720 --> 01:08:41,720 can read, it feels like the path that we are on right now is 1346 01:08:41,720 --> 01:08:44,319 inevitable. And I think Wall Street kind of 1347 01:08:44,319 --> 01:08:47,080 embracing Bitcoin, even banks kind of embracing Bitcoin, 1348 01:08:47,080 --> 01:08:50,240 nation states embracing Bitcoin. Like I think this was all going 1349 01:08:50,240 --> 01:08:53,319 to happen anyways. Maybe it's happening quicker 1350 01:08:53,319 --> 01:08:55,720 than we thought. Maybe this is kind of like the 1351 01:08:55,720 --> 01:08:58,840 WikiLeaks moment here where if you are familiar with the 1352 01:08:58,840 --> 01:09:01,040 WikiLeaks moment, it's like in the early days. 1353 01:09:01,040 --> 01:09:04,439 I believe I'm, I'm blanking on the the day, but I think it was 1354 01:09:04,439 --> 01:09:07,120 like early 2010 or maybe it was like 24. 1355 01:09:07,120 --> 01:09:09,200 Do you remember when the WikiLeaks was going to announce 1356 01:09:09,200 --> 01:09:12,279 Bitcoin trading and it was 2010? Cuz Satoshi was around. 1357 01:09:12,399 --> 01:09:14,560 Yeah. He's like, don't kick the 1358 01:09:14,560 --> 01:09:16,720 Hornets Nets. Like we're not big enough to 1359 01:09:16,720 --> 01:09:20,920 withstand basically the nation. Shit's coming down on us. 1360 01:09:20,920 --> 01:09:23,800 And I think this WikiLeaks thing is a bad thing. 1361 01:09:24,439 --> 01:09:28,840 Maybe this is kind of a same type of scenario where as a 1362 01:09:28,840 --> 01:09:31,800 community member, I hate using the word community member, but 1363 01:09:31,800 --> 01:09:35,000 as a Bitcoiner, someone that runs a node, someone that 1364 01:09:35,000 --> 01:09:37,720 advocates for self custody, someone that talks about Bitcoin 1365 01:09:37,720 --> 01:09:42,000 constantly, this might be kind of our next big test is what 1366 01:09:42,000 --> 01:09:44,160 we're talking about here. Is Bitcoin getting Co opted by 1367 01:09:44,160 --> 01:09:46,720 Wall Street? Is it big enough to withstand 1368 01:09:46,720 --> 01:09:50,240 the capital injection from all these big institutions? 1369 01:09:50,479 --> 01:09:54,520 I think it is, but also we won't really know until it happens in 1370 01:09:54,520 --> 01:09:55,880 real time and we're living through this. 1371 01:09:55,880 --> 01:09:59,160 So this is going to be one of those defining moments moving 1372 01:09:59,160 --> 01:10:03,000 into the future is like, can Bitcoin withstand this, this new 1373 01:10:03,000 --> 01:10:06,480 Wall Street injection because it's happening in real time, as 1374 01:10:06,480 --> 01:10:11,120 we've seen actually, maybe I can find that the tweet of sailors, 1375 01:10:11,120 --> 01:10:13,880 different products and how they tap into different capital 1376 01:10:13,880 --> 01:10:16,920 markets. Like it's say what you want 1377 01:10:16,920 --> 01:10:19,800 about sailor, but it's damn near genius what he's doing. 1378 01:10:19,800 --> 01:10:23,240 And this is how you get capital from the Fiat system into 1379 01:10:23,240 --> 01:10:25,000 Bitcoin. One of the things that I kind of 1380 01:10:25,000 --> 01:10:30,120 was again, I'm, I'm, I'm on this Mark Moss, the rabbit hole right 1381 01:10:30,120 --> 01:10:32,120 now. I'm like, I think he, I think 1382 01:10:32,120 --> 01:10:35,040 there's a lot of insight into what Mark Moss is saying. 1383 01:10:35,360 --> 01:10:37,960 And one of the things I took away from him, he's like a lot 1384 01:10:37,960 --> 01:10:42,560 of Bitcoiners need to understand that essentially 97% of the 1385 01:10:42,560 --> 01:10:46,960 world's capital is trapped in these illiquid zombie kind of, 1386 01:10:47,320 --> 01:10:50,520 you know, capital allocations that are Fiat back and the 1387 01:10:50,520 --> 01:10:54,080 products of like what sailors do and what ETFs are doing, banks 1388 01:10:54,080 --> 01:10:57,560 kind of embracing Bitcoin. It is unlocking the majority of 1389 01:10:57,560 --> 01:10:59,480 the world's capital. And if you think the majority of 1390 01:10:59,480 --> 01:11:03,440 the world's capital is going to go into Bitcoin, then they need 1391 01:11:03,440 --> 01:11:05,160 to find ways to come into Bitcoin. 1392 01:11:05,160 --> 01:11:08,520 There is so many staunch regulations around capital, 1393 01:11:08,920 --> 01:11:11,520 these capital markets that they can't find their way into 1394 01:11:11,520 --> 01:11:13,560 Bitcoin. Yes, for US Main Street 1395 01:11:13,560 --> 01:11:16,160 individual investors like it, we can just smash buy Bitcoin. 1396 01:11:16,160 --> 01:11:19,240 We could just buy spot Bitcoin. But for a lot of people and a 1397 01:11:19,240 --> 01:11:21,480 lot of capital around the world, the majority of the world's 1398 01:11:21,480 --> 01:11:25,240 capital, it can't find an easy way into Bitcoin without these 1399 01:11:25,320 --> 01:11:28,680 various different products. And maybe, you know, the if 1400 01:11:28,680 --> 01:11:33,400 there are being kind of, I guess a little more lenient on what 1401 01:11:33,400 --> 01:11:35,880 Scott Meckler saying, maybe people do believe that Bitcoin 1402 01:11:35,880 --> 01:11:37,760 has been Co opted. Maybe there are some early 1403 01:11:37,760 --> 01:11:40,760 libertarians that thought, you know, this was going to happen 1404 01:11:40,760 --> 01:11:43,600 on a grassroots level and every individual is just going to buy 1405 01:11:43,600 --> 01:11:45,080 Bitcoin. And that's how we take over the 1406 01:11:45,080 --> 01:11:48,400 world by, you know, person by person, individual, node by 1407 01:11:48,400 --> 01:11:50,400 node. This is how the world's going to 1408 01:11:50,400 --> 01:11:53,880 get here. I don't know, I maybe it was a 1409 01:11:53,880 --> 01:11:56,800 bit of utopian thinking. Maybe this is how it's going to 1410 01:11:56,800 --> 01:11:59,360 happen. And in turn, this will 1411 01:11:59,360 --> 01:12:02,560 fundamentally give us more freedom, more power, more 1412 01:12:02,560 --> 01:12:05,120 purchasing power. And this is just how it was 1413 01:12:05,120 --> 01:12:07,920 going to play out. So I don't, I, I think it's a 1414 01:12:07,920 --> 01:12:09,880 Trojan horse. I'm, I'm on the Trojan horse 1415 01:12:09,880 --> 01:12:11,400 side. And I don't think we're selling 1416 01:12:11,400 --> 01:12:14,560 out because Wall Street's here. Bitcoiners are, you know, 1417 01:12:14,560 --> 01:12:17,680 Bitcoin companies are entering Wall Street and they're getting 1418 01:12:17,680 --> 01:12:20,840 capital injections and we're seeing politicians land on our 1419 01:12:20,840 --> 01:12:22,920 doorsteps. I just think this is how it was 1420 01:12:22,920 --> 01:12:25,520 going to play out. Like we are maturing and for 1421 01:12:25,520 --> 01:12:27,680 better or worse, a lot of Bitcoiners do have this like 1422 01:12:27,680 --> 01:12:32,000 under underdog victim mentality. That's like now that we're going 1423 01:12:32,000 --> 01:12:34,320 mainstream, they're like, I don't like Bitcoins are like 1424 01:12:34,320 --> 01:12:36,680 hipsters. We're like, you know, I like 1425 01:12:36,680 --> 01:12:39,960 this band before people liked it and now that the world likes it, 1426 01:12:39,960 --> 01:12:41,920 I, I don't want anything to do with this Bitcoin. 1427 01:12:41,920 --> 01:12:43,760 But like Chris was saying, it makes no sense. 1428 01:12:43,760 --> 01:12:45,680 What are you going to do go back into the dollar? 1429 01:12:45,680 --> 01:12:47,360 It just. Go back into another 1430 01:12:47,360 --> 01:12:50,680 cryptocurrency that's getting devalued by the insiders. 1431 01:12:50,680 --> 01:12:51,960 Like, yeah, like what are you doing it? 1432 01:12:52,520 --> 01:12:55,320 Makes no sense to me. Yeah, I'll add to that, Opti and 1433 01:12:55,320 --> 01:12:58,400 I do think I think the thing that people think is that 1434 01:12:58,400 --> 01:13:00,400 Bitcoin's going to get Co opted and they're going to start 1435 01:13:00,400 --> 01:13:02,560 changing the rules and we're going to be forced to just sit 1436 01:13:02,560 --> 01:13:05,200 there and go along with it. But I guess people's memories 1437 01:13:05,200 --> 01:13:07,520 are short or some people haven't even been around since then. 1438 01:13:07,720 --> 01:13:10,880 Opti, you can talk about this with being in the in the block 1439 01:13:10,880 --> 01:13:12,440 size wars. Great book by the way. 1440 01:13:12,440 --> 01:13:15,080 There's like 4 Bitcoin books I recommend, Bitcoin standard by 1441 01:13:15,080 --> 01:13:20,280 safety, DNM Moose, the genesis book by Aaron Van Weardem, The 1442 01:13:20,280 --> 01:13:24,360 block wars by Jonathan Beer. And the last one was Oh the 1443 01:13:24,360 --> 01:13:26,320 price of tomorrow by Jeff Booth. Those are the four Bitcoin 1444 01:13:26,320 --> 01:13:28,040 books. You should read those, those are 1445 01:13:28,040 --> 01:13:29,920 excellent. But in the block size war, 1446 01:13:30,120 --> 01:13:33,240 basically there was a schism in the in the community that 1447 01:13:33,320 --> 01:13:36,040 there's people that believe that the block size limit should be 1448 01:13:36,040 --> 01:13:38,080 increased. And those were the big blockers. 1449 01:13:38,080 --> 01:13:40,760 And then there's the people that are the small blockers today, 1450 01:13:40,760 --> 01:13:43,600 the everyday bitcoiners, the bitcoiners of today that believe 1451 01:13:43,600 --> 01:13:45,520 that the Bitcoin limit should stay the same or even some 1452 01:13:45,520 --> 01:13:47,560 people advocated shrinking the block size limit. 1453 01:13:47,680 --> 01:13:52,400 So right now there is 4 megabytes per block per block 1454 01:13:52,400 --> 01:13:53,880 that is allowed of data in there. 1455 01:13:54,280 --> 01:13:59,000 There was a small upgrade of of SegWit that it actually 4X the 1456 01:13:59,000 --> 01:14:02,440 amount of ability to hold in the block size limit. 1457 01:14:02,440 --> 01:14:04,160 So it went from one MB to 4 megabytes. 1458 01:14:04,320 --> 01:14:06,760 But there was a compromises of compression of data, so they 1459 01:14:06,760 --> 01:14:08,280 were able to include more transactions. 1460 01:14:08,320 --> 01:14:11,560 Long story short, big blockers, small blockers, the big blockers 1461 01:14:11,560 --> 01:14:13,640 are known as people that were supporting B cash and then that 1462 01:14:13,640 --> 01:14:16,000 became BSV. There's a whole story there, but 1463 01:14:16,120 --> 01:14:19,120 basically they were supporting forking Bitcoin and making 1464 01:14:19,120 --> 01:14:21,360 Bitcoin cash. And then there was Bitcoin or 1465 01:14:21,360 --> 01:14:24,320 BTC traditional that wanted to remain Bitcoin in the way that 1466 01:14:24,320 --> 01:14:26,400 it is today. And back then there was this 1467 01:14:26,640 --> 01:14:28,680 there was a split in the community and I forget what 1468 01:14:28,680 --> 01:14:30,720 block number it was. You can probably look this up 1469 01:14:30,720 --> 01:14:34,200 right now, but there was one block when basically the chain 1470 01:14:34,200 --> 01:14:38,040 split, meaning that you had that they were using the same hashing 1471 01:14:38,040 --> 01:14:40,760 algorithm and or a different hashing algorithm, but they had 1472 01:14:40,760 --> 01:14:44,040 the same cryptographic way of of holding your Bitcoin. 1473 01:14:44,160 --> 01:14:47,480 So, you know, using private keys or bit 39 of your 12 or 20 1474 01:14:47,600 --> 01:14:50,240 forward C phrases, at that point, if you were to put those 1475 01:14:50,240 --> 01:14:54,040 C words into a Bitcoin Cash wallet or their fork, you would 1476 01:14:54,040 --> 01:14:56,880 have the equivalent of Bitcoin Cash and the equivalent of 1477 01:14:56,880 --> 01:14:58,400 Bitcoin. So you had your traditional 1478 01:14:58,400 --> 01:15:00,320 Bitcoin wallet. It had, you know, let's just say 1479 01:15:00,320 --> 01:15:04,520 one Bitcoin for easy sake, you had one Bitcoin cash at that 1480 01:15:04,520 --> 01:15:06,000 equivalent. And there was a, there was an 1481 01:15:06,000 --> 01:15:09,240 alternate market of trading where would Bitcoin cash price 1482 01:15:09,240 --> 01:15:12,120 be when it happened? And at one point they got to 1483 01:15:12,120 --> 01:15:15,920 like 40% of Bitcoin BT CS value was going to be Bitcoin Cash. 1484 01:15:16,080 --> 01:15:18,240 So it still was a lower evaluation, but people were 1485 01:15:18,240 --> 01:15:20,440 worried as that was creeping up from zero. 1486 01:15:20,560 --> 01:15:24,520 And it said at one point it was 42% equivalent to bit one 1487 01:15:24,520 --> 01:15:26,080 Bitcoin cash being of one Bitcoin. 1488 01:15:26,320 --> 01:15:28,760 So this is given everyone the context of the story. 1489 01:15:28,880 --> 01:15:31,760 So at one point you basically had the equivalent of 1 Bitcoin 1490 01:15:31,760 --> 01:15:34,360 Cash and one Bitcoin and you can do anything you want. 1491 01:15:34,360 --> 01:15:37,680 You could have held on to both. You could have sold Bitcoin Cash 1492 01:15:37,680 --> 01:15:40,720 to get more Bitcoin or or even just sold the Bitcoin cash for 1493 01:15:40,720 --> 01:15:43,280 the whole Fiat currency. Or you could have sold your BTC 1494 01:15:43,280 --> 01:15:46,000 to buy Bitcoin cash or you could have done nothing and basically 1495 01:15:46,000 --> 01:15:48,480 you had one Bitcoin cash and one Bitcoin and that would be the 1496 01:15:48,480 --> 01:15:50,880 same today. Obviously there was a lot of 1497 01:15:50,880 --> 01:15:53,240 scammers were trying to scam people like oh, use my Bitcoin 1498 01:15:53,240 --> 01:15:55,640 cash wallet that I just created. And when you enter your seed 1499 01:15:55,640 --> 01:15:58,640 words, they would steal your Bitcoin and your Bitcoin cash. 1500 01:15:58,640 --> 01:16:00,040 So it was called relay protection. 1501 01:16:00,160 --> 01:16:02,040 I know this is getting through weeds everyone, so I apologize, 1502 01:16:02,160 --> 01:16:03,720 but basically I'm just giving you the context. 1503 01:16:03,880 --> 01:16:07,400 There was the top 50 Bitcoin or crypto companies were trying to 1504 01:16:07,400 --> 01:16:11,040 push for Bitcoin cash. Coinbase bit main, the largest 1505 01:16:11,880 --> 01:16:16,160 producer of the bit main ASICS or the the Ant miner ASICS. 1506 01:16:16,360 --> 01:16:19,000 And so a lot of people were pushing or or supporting there 1507 01:16:19,000 --> 01:16:22,760 was Roger Burr or Bitcoin Jesus, as he his moniker was called. 1508 01:16:23,160 --> 01:16:26,080 Basically all these people were pushing or the money, the the 1509 01:16:26,120 --> 01:16:29,320 the institutional capital was pushing for Bitcoin cash, while 1510 01:16:29,320 --> 01:16:34,320 the small plebs were pushing for BTC or the small blockers. 1511 01:16:34,320 --> 01:16:37,040 And ultimately the small blockers want I do think like 1512 01:16:37,280 --> 01:16:39,760 BlackRock had that commercial where it said, oh, like, you 1513 01:16:39,760 --> 01:16:42,720 know, depending on the longest chain that we determine, like I 1514 01:16:42,720 --> 01:16:45,080 do think we meant we will have another block size work. 1515 01:16:45,080 --> 01:16:47,360 Maybe it's not going to be over the block size, but I do think 1516 01:16:47,360 --> 01:16:50,640 at one point there will be a debate of institutional capital 1517 01:16:50,640 --> 01:16:53,040 being like, well, what if we change it so we can whitelist 1518 01:16:53,040 --> 01:16:54,400 addresses? Or what if we could do that? 1519 01:16:54,520 --> 01:16:56,960 When that happens, the best thing to do, in my opinion, 1520 01:16:56,960 --> 01:16:58,760 that's not financial advice is not vice. 1521 01:16:58,920 --> 01:17:00,600 Just do nothing, do absolutely nothing. 1522 01:17:00,600 --> 01:17:02,840 Keep running the same Bitcoin that you're running and don't 1523 01:17:02,840 --> 01:17:04,720 upgrade to the newest software that they're promoting. 1524 01:17:05,200 --> 01:17:07,960 At the end of the day, I know and I'm not a lawyer, often are 1525 01:17:07,960 --> 01:17:09,240 not lawyers here, but I remember. 1526 01:17:09,240 --> 01:17:11,640 This is not financial advice. Not financial advice, but when 1527 01:17:11,840 --> 01:17:15,200 the Bitcoin ETFs came out in 2024, there was a stipulation in 1528 01:17:15,200 --> 01:17:18,200 there that said in the event of a fork, they are not allowed to 1529 01:17:18,200 --> 01:17:21,560 have the Bitcoin ETF and Bitcoin 2.0 ETF. 1530 01:17:21,680 --> 01:17:24,320 So they will have to make a decision which fork they go 1531 01:17:24,320 --> 01:17:25,760 with. And I think that was in the fine 1532 01:17:25,760 --> 01:17:27,720 print. Obviously that was when the ETF 1533 01:17:27,720 --> 01:17:29,680 was launching. If a fork occurred at that 1534 01:17:29,680 --> 01:17:31,400 moment, they'd probably have to pick one. 1535 01:17:31,560 --> 01:17:34,480 I don't think in the future they might just spin off and create 1536 01:17:34,480 --> 01:17:37,280 like we've now launched a new ticker with the new ETF symbol. 1537 01:17:37,440 --> 01:17:40,960 But I with that being said, if they had to pick and they picked 1538 01:17:41,120 --> 01:17:44,040 against BTC, I'm assuming Bitcoin's price would go down, 1539 01:17:44,040 --> 01:17:47,560 there'd be chaos and panic. But the worst thing to do when 1540 01:17:47,560 --> 01:17:51,720 that is going on is to panic yourself is to stay calm, to not 1541 01:17:51,720 --> 01:17:54,600 do anything brash, to not enter your seed words into anything 1542 01:17:55,120 --> 01:17:58,040 that you're unsure of that is not offline or not in your own 1543 01:17:58,040 --> 01:18:00,000 possession because that could be catastrophic. 1544 01:18:00,120 --> 01:18:01,880 You basically. Obviously people have used that 1545 01:18:01,880 --> 01:18:05,080 for social engineering attacks. But I do think that we will have 1546 01:18:05,080 --> 01:18:09,000 in the future another soft fork war or you know, a fork war 1547 01:18:09,160 --> 01:18:11,480 where we're debating on a different issue, whatever it may 1548 01:18:11,480 --> 01:18:12,960 be. And at that time, you're going 1549 01:18:12,960 --> 01:18:14,960 to have to decide. You can always do nothing. 1550 01:18:14,960 --> 01:18:17,480 And you have equivalent of both if there is a soft work that 1551 01:18:17,480 --> 01:18:19,800 occurs. So sorry for the long, I hope 1552 01:18:19,800 --> 01:18:21,960 that gives context for everyone that didn't live through it or 1553 01:18:21,960 --> 01:18:24,080 haven't learned about the fork wars, the block size war. 1554 01:18:24,320 --> 01:18:25,800 No, that was great. That was great. 1555 01:18:27,440 --> 01:18:29,680 I actually sorry this is a good comment. 1556 01:18:29,680 --> 01:18:31,880 This is financial advice by as much Bitcoin. 1557 01:18:33,520 --> 01:18:37,120 I actually came into Bitcoin after the fork wars. 1558 01:18:37,160 --> 01:18:38,880 I, I was, I didn't live through the fork wars. 1559 01:18:38,880 --> 01:18:42,840 I literally came like right when it ended and it was still very 1560 01:18:42,840 --> 01:18:45,080 contentious what was going on in the space. 1561 01:18:45,080 --> 01:18:49,400 So like I had to very quickly kind of catch myself up on what 1562 01:18:49,400 --> 01:18:52,320 just happened. I, I'm pretty sure like what the 1563 01:18:52,320 --> 01:18:56,000 fork wars happened in, I think it was like August of 2017. 1564 01:18:56,000 --> 01:18:58,320 I, I could be kind of pushing that back a little bit. 1565 01:18:58,680 --> 01:19:03,040 And I got in shortly after that. And I remember when I got in, it 1566 01:19:03,040 --> 01:19:06,080 was like we didn't have the big Bitcoin only accounts that we do 1567 01:19:06,080 --> 01:19:09,000 now. And you got in and there was so 1568 01:19:09,000 --> 01:19:13,800 much arguments going on, so much like people are slinging shit at 1569 01:19:13,800 --> 01:19:15,480 each other like, no, this is the real Bitcoin. 1570 01:19:15,480 --> 01:19:17,240 That's the, this is the real Bitcoin. 1571 01:19:17,600 --> 01:19:21,280 And you had to like very quickly catch yourself up 'cause 1572 01:19:21,280 --> 01:19:24,840 everyone basically you come into Bitcoin, you, you buy BTC. 1573 01:19:25,080 --> 01:19:27,960 And then when I got in, it was like Coinbase. 1574 01:19:27,960 --> 01:19:30,440 Now we have like Bitcoin only exchanges that make it easier. 1575 01:19:30,880 --> 01:19:35,360 And you had to very quickly catch up on wait, is BTC the 1576 01:19:35,360 --> 01:19:38,240 real Bitcoin or is it B Cash, BCH and? 1577 01:19:38,240 --> 01:19:41,600 Then Bitcoin SV. And then it was SV and you're 1578 01:19:41,600 --> 01:19:44,760 like, what is going on here? So yeah, it's I, I think I agree 1579 01:19:44,760 --> 01:19:47,960 with you that that will happen. And we're, we're kind of seeing 1580 01:19:47,960 --> 01:19:50,120 that with like the knots and core stuff, though it's not 1581 01:19:50,120 --> 01:19:53,840 necessarily like a new fork. We're starting to see this node 1582 01:19:53,840 --> 01:19:57,040 implementation battle going on, which can potentially lead to 1583 01:19:57,040 --> 01:19:59,440 another fork. So yeah, just stay vigilant. 1584 01:19:59,440 --> 01:20:00,720 That's why you guys should run a node. 1585 01:20:00,720 --> 01:20:04,960 And like Chris said, I will also echo, don't update your node 1586 01:20:04,960 --> 01:20:06,560 right away just because there's an update. 1587 01:20:06,560 --> 01:20:10,040 I literally I have the. Keep it simple, stupid kind of 1588 01:20:10,040 --> 01:20:12,960 mean where it's like I wait like a year or two before I even 1589 01:20:12,960 --> 01:20:16,040 think about updating my notes. Like yeah, cool, new notes 1590 01:20:16,040 --> 01:20:17,960 updated. I still run core. 1591 01:20:17,960 --> 01:20:20,240 I think it's like 17 or something like that. 1592 01:20:20,240 --> 01:20:22,080 I, I again, I don't have. You don't. 1593 01:20:22,080 --> 01:20:23,760 Even have you don't even have taproot. 1594 01:20:23,760 --> 01:20:26,240 I think taproot is like 20 or 21, so you don't even have that. 1595 01:20:26,240 --> 01:20:26,720 Ability. No. 1596 01:20:26,720 --> 01:20:29,120 Maybe it's 20. What are we on now? 1597 01:20:29,120 --> 01:20:32,200 It's like the. 2728's about to come out in. 1598 01:20:32,400 --> 01:20:36,120 The OK then, yeah, I think I'm on like 25. 1599 01:20:36,160 --> 01:20:41,880 I guess for some reason I I, I thought 27 was 17, but yeah, no, 1600 01:20:41,880 --> 01:20:46,840 I, I'm, I'm, I'm a few, a few node updates behind and and this 1601 01:20:46,840 --> 01:20:50,040 is by design. So I totally agree, Chris. 1602 01:20:50,080 --> 01:20:53,920 Anyways, guys, we are going to wrap up the show, but there is a 1603 01:20:53,920 --> 01:20:57,520 great comment here. Let me let me read this because 1604 01:20:57,520 --> 01:21:02,720 we do have some pretty big news coming out tomorrow and if you 1605 01:21:02,720 --> 01:21:05,360 are waiting to smash buy some Bitcoin. 1606 01:21:05,360 --> 01:21:08,880 I again, not financial advice here, but I would probably buy 1607 01:21:08,880 --> 01:21:12,200 today though maybe this is going to be a, you know, sell. 1608 01:21:12,200 --> 01:21:13,640 Buy the rumor, sell the news type. 1609 01:21:13,640 --> 01:21:16,200 I'll be telling you to buy, but Jim Cramer is telling you also 1610 01:21:16,200 --> 01:21:18,000 buy. So you should probably not buy. 1611 01:21:18,200 --> 01:21:19,880 Yeah, you should. Probably not buy I think. 1612 01:21:19,880 --> 01:21:23,160 I think Jim Cramer has way more aura than I do and he could move 1613 01:21:23,160 --> 01:21:25,120 the markets a lot better than I can. 1614 01:21:25,120 --> 01:21:28,040 So. Wait for tomorrow a better entry 1615 01:21:28,040 --> 01:21:31,600 place in and yeah, we all in and then you're kind of. 1616 01:21:31,600 --> 01:21:34,960 Exactly. But Ron P says, trust me when I 1617 01:21:34,960 --> 01:21:39,000 tell you, Bo Hines know this is going to go ballistic tomorrow. 1618 01:21:39,320 --> 01:21:43,120 And for everyone that doesn't know, the strategic Bitcoin 1619 01:21:43,120 --> 01:21:46,040 Reserve report will be released tomorrow. 1620 01:21:46,320 --> 01:21:50,720 I don't know if it's going to have come out before the show or 1621 01:21:50,720 --> 01:21:54,240 after, but if it does come out before the show and and we have 1622 01:21:54,240 --> 01:21:56,440 enough time to kind of read it or maybe we just get a clip, 1623 01:21:56,440 --> 01:21:58,440 that's probably what we will cover tomorrow. 1624 01:21:58,440 --> 01:22:01,520 That's a that's a huge, huge story coming out. 1625 01:22:01,520 --> 01:22:03,760 It's it's big news. We're going to see officially 1626 01:22:03,760 --> 01:22:06,800 what the US government is saying about the strategic Bitcoin 1627 01:22:06,800 --> 01:22:10,160 Reserve, whether we get some news on how they're going to 1628 01:22:10,160 --> 01:22:13,920 stack Bitcoin budget friendly, whether they have increased 1629 01:22:13,920 --> 01:22:17,600 their reserve count via, you know, government forfeitures, 1630 01:22:17,840 --> 01:22:20,120 whether there's some new regulations coming in. 1631 01:22:20,200 --> 01:22:22,720 We should find all that out tomorrow. 1632 01:22:22,720 --> 01:22:28,480 So we will, I think very clearly know what is going on with the 1633 01:22:28,600 --> 01:22:33,160 US Bitcoin that they hold and the strategic Bitcoin Reserve. 1634 01:22:33,160 --> 01:22:36,400 So that comes out tomorrow. Again, I don't know if that's 1635 01:22:36,400 --> 01:22:39,600 going to be released before the show, but if it is, we will 1636 01:22:39,600 --> 01:22:43,160 probably cover that tomorrow. On that note, guys, love you, 1637 01:22:43,720 --> 01:22:47,040 appreciate you, smash the like button, comment on the show, and 1638 01:22:47,040 --> 01:22:50,200 of course, hit the subscriber subscribe button. 1639 01:22:50,640 --> 01:22:52,720 We drop the best content. We drop all kinds of content. 1640 01:22:53,040 --> 01:22:56,000 And you guys don't want to miss Reston, the funniest dude in 1641 01:22:56,000 --> 01:22:57,400 Bitcoin. You don't want to miss Dante, 1642 01:22:57,680 --> 01:22:59,280 one of the smartest dudes in Bitcoin. 1643 01:22:59,480 --> 01:23:02,240 And we have we and Ocean's dropping literally the most 1644 01:23:02,240 --> 01:23:05,480 creative shows in Bitcoin. And on that note, we do have 1645 01:23:05,480 --> 01:23:07,920 some interesting stuff we're going to be dropping for you 1646 01:23:07,920 --> 01:23:10,880 guys on the YouTube channel. We love you guys. 1647 01:23:10,880 --> 01:23:12,760 We will see you tomorrow. Chris, thank you so much for 1648 01:23:12,760 --> 01:23:14,960 coming on today. Really appreciate you. 1649 01:23:15,320 --> 01:23:18,760 On that note, guys, Peace out. Get some sun today. 1650 01:23:18,840 --> 01:23:20,040 It's good for you. Peace. 1651 01:23:21,080 --> 01:23:24,480 Today's episode was brought to you by bitcoinwell.com, a 1652 01:23:24,480 --> 01:23:27,600 Bitcoin only platform on a mission to enable financial 1653 01:23:27,600 --> 01:23:28,400 independence.