1 00:00:18,800 --> 00:00:22,600 Yo welcome to another episode of Simply Bitcoin live. 2 00:00:22,600 --> 00:00:27,300 Your number one source for the peaceful Bitcoin Revolution. 3 00:00:27,300 --> 00:00:29,000 Today we have a very special show. 4 00:00:29,000 --> 00:00:32,299 This is simply Bitcoin, after all, we like to invite 5 00:00:32,400 --> 00:00:36,500 bitcoiners for all, from all walks of life, sometimes they're 6 00:00:36,500 --> 00:00:38,600 very well-known. Sometimes, you know, they're 7 00:00:38,600 --> 00:00:43,500 just plebs on bitcoin Twitter, and those plebs usually have 8 00:00:43,500 --> 00:00:46,800 some of the best takes because it's not that the well-known 9 00:00:46,800 --> 00:00:49,600 people have bad takes. It's that you've heard them a 10 00:00:49,608 --> 00:00:53,200 thousand times, right? So that's why we invite them 11 00:00:53,400 --> 00:00:56,400 because sometimes you have no idea what they're going to say, 12 00:00:56,600 --> 00:00:58,800 but the signal is so goddamn good. 13 00:00:58,900 --> 00:01:02,500 Anyways, Alex, how you doing good? 14 00:01:02,600 --> 00:01:05,700 How are you Nica? Thanks for having me, man. 15 00:01:05,700 --> 00:01:08,800 Thank you so much for coming onto, simply Bitcoin. 16 00:01:08,800 --> 00:01:11,800 It's going to be a great show. But first, I have to say, what's 17 00:01:11,800 --> 00:01:16,600 up to my legendary co-host, the legendary Optimus Fields, Nico 18 00:01:16,600 --> 00:01:19,700 Nico. It is humble It is humble Opti 19 00:01:19,700 --> 00:01:23,000 the host but good morning Nico. What's up, Alex? 20 00:01:23,000 --> 00:01:25,000 I just want to give you a shout out. 21 00:01:25,000 --> 00:01:26,800 Nico. Y'all need to watch that 22 00:01:26,800 --> 00:01:29,700 interview. He did yesterday because that 23 00:01:29,700 --> 00:01:32,600 was so fire. We went way longer than we 24 00:01:32,600 --> 00:01:35,600 thought and it was pure signal, guys. 25 00:01:35,600 --> 00:01:38,900 Absolutely pure signal. It's literally a must-see I 26 00:01:38,908 --> 00:01:42,100 know, I'm Schilling our products or whatever but it was fire 27 00:01:42,100 --> 00:01:44,300 guys. Like everyone in the chat was 28 00:01:44,300 --> 00:01:47,500 super bullish that's that's the content we're here for spreading 29 00:01:47,500 --> 00:01:48,900 that sound money. Gospel man. 30 00:01:48,900 --> 00:01:52,300 It was awesome. Yeah it was it was a lot of fun. 31 00:01:52,500 --> 00:01:55,400 It definitely went ran a lot longer than I thought it would. 32 00:01:55,600 --> 00:01:59,300 But anyways before we start the show today we're going to talk 33 00:01:59,300 --> 00:02:02,700 about how to use Bitcoin without the internet. 34 00:02:02,700 --> 00:02:05,800 Yes it is possible. We're also going to continue 35 00:02:05,800 --> 00:02:10,100 covering the disaster of aetherium aetherium run by 36 00:02:10,100 --> 00:02:13,800 Amazon. Regulated or what is it? 37 00:02:13,800 --> 00:02:18,000 Run by Amazon regulated, by the US government, I forgot the 38 00:02:18,000 --> 00:02:20,100 tweet. It was so good, but you guys get 39 00:02:20,100 --> 00:02:22,200 the general gist of it. Anyways, Opti, what are we going 40 00:02:22,200 --> 00:02:24,600 to talk to talk about today during the daily culture? 41 00:02:24,600 --> 00:02:26,200 I think this is the third daily culture. 42 00:02:26,500 --> 00:02:29,500 Well, we've been getting a lot of shit for some of our 43 00:02:29,500 --> 00:02:32,600 sponsorship. So I am going to address some of 44 00:02:32,608 --> 00:02:35,800 this stuff and then furthermore, if we got enough time, I have an 45 00:02:35,900 --> 00:02:39,800 awesome Eric case on thread. So we'll see, we'll see if we 46 00:02:39,800 --> 00:02:41,100 get there. I know the news. 47 00:02:41,300 --> 00:02:43,500 Been running long because there's a lot of news out here 48 00:02:44,000 --> 00:02:46,700 but yes, I am bullish on The Daily culture. 49 00:02:47,100 --> 00:02:50,700 I love it, man. It makes me feel good that I can 50 00:02:50,700 --> 00:02:52,200 talk about the stuff that I like. 51 00:02:52,200 --> 00:02:55,400 So, here we go. And man, let's just get into 52 00:02:55,400 --> 00:02:57,100 this Nico. Let's just get into his. 53 00:02:57,100 --> 00:03:00,500 I'm looking for the Tweet because it's such a good sweet. 54 00:03:00,600 --> 00:03:04,200 Anyways, I'll find it later. Let's start the show. 55 00:03:07,900 --> 00:03:11,700 Number two brought to you by not all they make some of the best 56 00:03:11,700 --> 00:03:13,500 Bitcoin. Nodes run your own version of 57 00:03:13,500 --> 00:03:16,500 Bitcoin core. The lightning Network whirlpool 58 00:03:16,500 --> 00:03:18,900 and Dojo all from the comfort of your own home. 59 00:03:19,000 --> 00:03:22,200 Remember guys, if you don't run your own Bitcoin node, you're 60 00:03:22,200 --> 00:03:25,500 trusting someone else's and if you're a digital Nomad you have 61 00:03:25,500 --> 00:03:29,100 no excuse because now you could run a novel through a virtual 62 00:03:29,100 --> 00:03:31,800 private server. Visit noddle Dottie you today. 63 00:03:32,600 --> 00:03:35,700 That's right. And perfect episode. 64 00:03:35,900 --> 00:03:38,300 Literally tell you the importance of running your own 65 00:03:38,300 --> 00:03:41,700 Hardware, run your own version of Bitcoin core and you can only 66 00:03:41,700 --> 00:03:43,400 do that. If you run your own node you 67 00:03:43,400 --> 00:03:46,800 could build one or you could buy one obviously, we recommend the 68 00:03:46,800 --> 00:03:48,800 novel, it's one of the best anyways. 69 00:03:49,000 --> 00:03:52,800 So the actual tweet says aetherium run by Amazon 70 00:03:52,800 --> 00:03:55,800 controlled by the US government. All right, just to just to 71 00:03:55,808 --> 00:03:58,400 clarify that because I had a little brain fog. 72 00:03:58,400 --> 00:04:02,000 Anyways, the Bitcoin price at the time of recording is that 73 00:04:02,000 --> 00:04:07,000 23,000 $365 sad. It's per dollar also known as 74 00:04:07,000 --> 00:04:15,800 Moscow, time to thout 4280, block height 740 9855 reachable, 75 00:04:15,800 --> 00:04:21,700 Bitcoin nodes, 14,800 and three blocks of The Happening. 90145 76 00:04:23,200 --> 00:04:27,900 having estimate April 21st, 2024, it's coming up total, 77 00:04:27,900 --> 00:04:34,800 lightning network capacity, 4547 .33 Bitcoin, estimated value 78 00:04:34,800 --> 00:04:38,200 around. Million dollars hash rate. 79 00:04:38,300 --> 00:04:42,400 Last 90 days estimated hash rate, there's no way to actually 80 00:04:42,400 --> 00:04:44,200 know the hash rate every website. 81 00:04:44,200 --> 00:04:48,700 Calculates it a little bit differently, 206 X2 hashes 82 00:04:48,700 --> 00:04:52,800 realize monetary inflation again taking the US dollar absolutely 83 00:04:52,800 --> 00:04:56,700 to school one point seven, eight percent during The Happening 84 00:04:56,700 --> 00:05:00,100 that number should be cut in half market cap also known as 85 00:05:00,100 --> 00:05:06,600 market capitalization 440, six billion dollars with It's a be 86 00:05:07,200 --> 00:05:08,600 kind of want to do a little bit of hold on. 87 00:05:08,600 --> 00:05:12,600 Before we got into that can we, can we go back to that realize 88 00:05:12,600 --> 00:05:16,200 monetary inflation? I just kind of realized that 89 00:05:16,200 --> 00:05:21,300 Bitcoin even at one point seven. Eight percent is the lowest 90 00:05:21,400 --> 00:05:24,400 inflation rate of any money. Any currency out there in the 91 00:05:24,408 --> 00:05:29,000 world and this isn't even fully diluted Bitcoin hard cap, 21 92 00:05:29,000 --> 00:05:32,200 million Bitcoins, man. I don't know if we ever all the 93 00:05:32,200 --> 00:05:35,700 people out there saw but the UK has double digit inflation. 94 00:05:35,900 --> 00:05:38,700 And that's them manipulating the CPI. 95 00:05:39,400 --> 00:05:42,100 Bitcoin is the way anyways, go, Anika. 96 00:05:42,100 --> 00:05:44,100 I'm bullish. Bullish numbers there, dude. 97 00:05:45,100 --> 00:05:47,000 No, it's good. That you poured it out because 98 00:05:47,000 --> 00:05:52,200 that will continue to get worse. So the Bitcoin is just gonna it 99 00:05:52,200 --> 00:05:54,800 shines the light of Truth on everything and it's just going 100 00:05:54,800 --> 00:05:58,500 to expose the scam that is Fiat currencies. 101 00:05:58,500 --> 00:06:01,900 Think about it this way. We are forced by legal tender 102 00:06:01,900 --> 00:06:06,800 laws to earn in a currency that literally, Steals from us. 103 00:06:07,200 --> 00:06:10,800 That is how the system is designed and Bitcoin shines, a 104 00:06:10,800 --> 00:06:14,200 light of Truth on that and it provides an alternative that 105 00:06:14,200 --> 00:06:17,800 can't be easily co-opted by governments, right? 106 00:06:17,800 --> 00:06:20,800 Which is really emphasizes the importance of decentralization. 107 00:06:20,800 --> 00:06:22,800 So I think you brought up a great Point Opti. 108 00:06:23,700 --> 00:06:27,300 Screw the Fiat currencies. Anyways, I want to kind of have 109 00:06:27,300 --> 00:06:29,900 a throwback. This is the importance right? 110 00:06:30,100 --> 00:06:32,400 Of hot curling. Your Bitcoin don't trade. 111 00:06:32,400 --> 00:06:35,600 What Odell always says. Stay humble stack SATs. 112 00:06:35,800 --> 00:06:38,900 Audio listeners. This is a screenshot of Reddit 113 00:06:39,500 --> 00:06:43,000 and it says is someone who posted this 11 years ago and 114 00:06:43,000 --> 00:06:44,900 they said, of course, they deleted. 115 00:06:44,900 --> 00:06:48,200 Their account. Will Bitcoin be $20 each by the 116 00:06:48,200 --> 00:06:51,800 end of August, if you're right, you could win 10 Bitcoin. 117 00:06:51,900 --> 00:06:54,800 Whoa. This is an easy bet I take no 118 00:06:55,700 --> 00:07:00,000 wow holy crap that's like twenty thousand dollars for two hundred 119 00:07:00,000 --> 00:07:04,700 forty thousand USD today. The power of absolute scarcity 120 00:07:04,700 --> 00:07:07,600 is something that we White don't understand yet. 121 00:07:07,600 --> 00:07:09,900 Anyways, I have a video for us to watch today. 122 00:07:10,000 --> 00:07:13,400 Hey, and react to. It is from the Robert Breedlove 123 00:07:13,400 --> 00:07:17,800 podcast and he brought on Catlin long and Catelyn. 124 00:07:17,800 --> 00:07:22,300 Long was talking about the importance of self custody. 125 00:07:22,500 --> 00:07:25,600 Anyways, check out the clip and then we'll talk about it. 126 00:07:27,500 --> 00:07:30,800 Should have hid somewhere around six figures in this in this 127 00:07:30,900 --> 00:07:34,200 previous cycle and it didn't. So why didn't it? 128 00:07:34,300 --> 00:07:36,900 Because there is a lot of paper Bitcoin out there. 129 00:07:36,900 --> 00:07:42,900 That's supplying the real Demand with fake Supply and what I mean 130 00:07:42,900 --> 00:07:46,600 by that paper Bitcoin is those are iou's if you added up all 131 00:07:46,600 --> 00:07:51,200 the ious from the intermediaries and then added up the total 132 00:07:51,200 --> 00:07:53,600 number of Bitcoin outstanding. What it's nineteen Point 1 133 00:07:53,600 --> 00:07:55,300 million or so, I don't think we've hit nineteen point two 134 00:07:55,300 --> 00:07:58,900 million yet. I'll bet you that we're well we 135 00:07:58,900 --> 00:08:01,100 already know, right? Because we've seen some failures 136 00:08:01,100 --> 00:08:03,800 counterparty failures. We already know that the total 137 00:08:03,800 --> 00:08:08,700 number of Bitcoins promised to people through intermediaries is 138 00:08:08,700 --> 00:08:11,800 far greater than 19 Point 1 million, right? 139 00:08:12,400 --> 00:08:17,200 And and so what happened all those intermediaries that sold 140 00:08:17,700 --> 00:08:23,100 their customers and I owe you on bitcoin to pay proverbial paper 141 00:08:23,100 --> 00:08:27,700 Bitcoin that went to satisfy real demand And any time you 142 00:08:27,700 --> 00:08:30,000 push the supply curve out. If you think about 143 00:08:30,000 --> 00:08:32,900 supply-demand, I did a tweet storm about this a little while 144 00:08:32,900 --> 00:08:35,900 ago, and someone just brought it up to me recently, so I can dig 145 00:08:35,900 --> 00:08:38,299 it up and send it to you, so you can send it out. 146 00:08:38,299 --> 00:08:40,500 Anytime. You push the supply curve out, 147 00:08:42,000 --> 00:08:44,200 Leaving everything else. Constant leaving your demand 148 00:08:44,200 --> 00:08:45,700 constant? What happens? 149 00:08:46,000 --> 00:08:48,600 Your price goes down and that's what's happened here. 150 00:08:50,100 --> 00:08:54,700 So dude, it sounds like what they're trying to do, right? 151 00:08:54,700 --> 00:08:56,500 And this benefits, the government right? 152 00:08:56,500 --> 00:08:59,300 Is to manipulate Bitcoin the way that they have successfully, 153 00:08:59,300 --> 00:09:01,400 manipulated the gold market for so long. 154 00:09:01,400 --> 00:09:05,100 Right. They have sold paper gold, right 155 00:09:05,100 --> 00:09:08,300 and unfortunately, we're seeing the same thing happen. 156 00:09:08,300 --> 00:09:10,700 Here. They're just paid. 157 00:09:10,900 --> 00:09:12,600 You can I buy some Bitcoin from you? 158 00:09:12,600 --> 00:09:17,300 Sure, but I'll custody for it, I'll custody for it for a for 159 00:09:17,300 --> 00:09:19,300 you too. And how are you going to come? 160 00:09:19,500 --> 00:09:23,600 Arm that that institution actually says the Bitcoin that 161 00:09:23,600 --> 00:09:25,900 they sold you like, how do they, how do you know that they 162 00:09:25,900 --> 00:09:29,400 actually have that Bitcoin? The only way to know is by 163 00:09:29,400 --> 00:09:33,100 taking self custody and this is why self custody is so 164 00:09:33,100 --> 00:09:36,900 important, right? Self custody basically tells the 165 00:09:36,900 --> 00:09:39,800 exchange. Hey, you got to put up or shut 166 00:09:39,800 --> 00:09:43,500 up and what we saw with the whole Celsius debacle, in a lot 167 00:09:43,500 --> 00:09:46,400 of these platforms that collapse, what were they doing 168 00:09:46,400 --> 00:09:49,100 with a lot of the Bitcoin that they were holding for people? 169 00:09:49,400 --> 00:09:52,900 They were speculating with it. There are trying to get a return 170 00:09:52,900 --> 00:09:56,400 on your Bitcoin and then when the price went down, they 171 00:09:56,400 --> 00:10:00,100 realized that they didn't have enough Bitcoin to honor all the 172 00:10:00,100 --> 00:10:03,200 deposits, all honor all the withdrawals and what do they do? 173 00:10:03,200 --> 00:10:07,400 They had to file for bankruptcy and I suspect a lot of these 174 00:10:07,400 --> 00:10:09,800 exchanges that are even the big ones. 175 00:10:10,100 --> 00:10:15,100 They don't have the Bitcoin that they say they do if everybody 176 00:10:15,100 --> 00:10:18,800 withdrew at the same time, they would not have enough Bitcoin to 177 00:10:18,800 --> 00:10:20,500 honor all. Those withdraws. 178 00:10:20,700 --> 00:10:22,800 And this is the important of self custody. 179 00:10:22,900 --> 00:10:28,300 It does two things. It protects you from the BS. 180 00:10:28,500 --> 00:10:34,200 You know, partially reserved type of exchange bullshit behind 181 00:10:34,200 --> 00:10:38,000 the scenes and it also kind of helps the price a little bit, 182 00:10:38,000 --> 00:10:39,800 right? Because if you could it's what 183 00:10:39,800 --> 00:10:42,900 Catlin long said, if you could extend the supply, if you can 184 00:10:42,900 --> 00:10:46,600 make the supply longer and longer and longer that's just 185 00:10:46,800 --> 00:10:48,300 that's just price. Depression is just going to 186 00:10:48,308 --> 00:10:51,500 bring the price down. Now, what she said about, you 187 00:10:51,500 --> 00:10:56,000 know, the expectation of Bitcoin sitting hitting six figures the 188 00:10:56,000 --> 00:10:58,200 last cycle, the the previous cycle. 189 00:10:59,000 --> 00:11:02,500 I don't know about that, but I can tell you this, I think that 190 00:11:02,500 --> 00:11:06,800 a lot of people had really high expectations for the last cycle, 191 00:11:06,900 --> 00:11:11,000 and they're expecting a bitcoin price between 100 and 200 K and 192 00:11:11,000 --> 00:11:14,100 were let down. When that didn't happen, I think 193 00:11:14,100 --> 00:11:15,900 that was a combination of two things. 194 00:11:16,100 --> 00:11:18,800 I think that the Chinese Communist party Band Bitcoin 195 00:11:18,800 --> 00:11:23,400 mining at Exact right time. You could make that argument 196 00:11:23,400 --> 00:11:26,000 that that's an attack on the price of Bitcoin attacking the 197 00:11:26,000 --> 00:11:28,900 price of Bitcoin is slowing down adoption, right? 198 00:11:28,900 --> 00:11:32,500 The price of Bitcoin going up, is what attracts more people to 199 00:11:32,500 --> 00:11:34,400 come? That was the genius of Satoshi 200 00:11:34,400 --> 00:11:37,900 in the for the roughly four year having cycle, right? 201 00:11:37,900 --> 00:11:40,300 So and the other component, right? 202 00:11:40,300 --> 00:11:45,200 Is man, whether it's, you know, the infamous Plan B and is 203 00:11:45,200 --> 00:11:49,700 bullshit ass, you know, stock to flow and all the chain of Isis 204 00:11:49,700 --> 00:11:51,800 guys. And whatever everyone was 205 00:11:51,800 --> 00:11:56,000 expecting, a minimum 100K Bitcoin and I'm pretty sure that 206 00:11:56,000 --> 00:11:58,200 I got a lot of people got super wrecked. 207 00:11:58,200 --> 00:12:02,700 When they did a leverage long and Bitcoin only hit 69k and 208 00:12:02,700 --> 00:12:06,100 there were expecting 100K Bitcoin minimum, right? 209 00:12:06,100 --> 00:12:09,200 I think that this problem with Catelyn long is talking about 210 00:12:09,200 --> 00:12:12,900 the rehypothecation of Bitcoin is going to continue to get 211 00:12:12,900 --> 00:12:14,800 worse. Not better, right? 212 00:12:14,900 --> 00:12:17,700 And really the way that you protect yourself against that is 213 00:12:17,700 --> 00:12:21,900 taking self custody Listen, we can't win this revolution. 214 00:12:22,000 --> 00:12:26,300 Nothing will change. If people don't take back their 215 00:12:26,300 --> 00:12:31,100 full control of their wealth and by doing that taking back full 216 00:12:31,100 --> 00:12:34,300 Financial sovereignty, that's how you win the revolution. 217 00:12:34,400 --> 00:12:36,800 That is actually how we make change. 218 00:12:36,900 --> 00:12:42,900 If we don't do that, nothing will change, anyways, Alex? 219 00:12:42,900 --> 00:12:45,700 What are your thoughts on this? What are my thoughts? 220 00:12:45,700 --> 00:12:50,000 Yeah, well, I agree with you broadly and I think that oops, 221 00:12:50,600 --> 00:12:55,000 the desk. I think that the interesting 222 00:12:55,000 --> 00:12:59,500 parallel with with talking about price suppression and Bitcoin 223 00:12:59,900 --> 00:13:03,300 via Bitcoin future shorts or whatever, you know, 224 00:13:03,800 --> 00:13:07,400 rehypothecation or whatever. The suppression mechanism is, 225 00:13:08,200 --> 00:13:11,400 the interesting parallel is over in the precious metals 226 00:13:11,400 --> 00:13:14,500 Community, because, you know, you already mentioned it that 227 00:13:14,700 --> 00:13:17,300 Price suppression. You know, we're sort of calling 228 00:13:17,300 --> 00:13:22,400 foul in terms of, you know, those assets as well. 229 00:13:23,000 --> 00:13:27,700 But the Curious thing about it is that it's really says more 230 00:13:27,700 --> 00:13:31,800 about the US dollar being your unit of account than anything 231 00:13:31,800 --> 00:13:34,900 else, right? Is that if the unit of account 232 00:13:34,900 --> 00:13:38,200 in your head is still the US dollar like that's kind of 233 00:13:39,100 --> 00:13:43,700 residual of the siop. And so you know we talked about 234 00:13:43,700 --> 00:13:44,800 hyper Bitcoin is. Ation. 235 00:13:44,800 --> 00:13:48,300 But we don't talk a lot about what it's going to feel like to 236 00:13:48,300 --> 00:13:54,300 denominator everything in SATs. And I think that's, that's 237 00:13:54,300 --> 00:14:00,100 really key because I believe that in a sound money, if your 238 00:14:00,100 --> 00:14:05,100 unit of account is has shifted and into into that sound money. 239 00:14:05,100 --> 00:14:09,600 Like if we even if there's some Shenanigans going on that 240 00:14:09,600 --> 00:14:13,000 ultimately you're going to get better price, Discovery better 241 00:14:13,000 --> 00:14:16,900 free market unregulated. Free market signal for different 242 00:14:16,900 --> 00:14:20,700 asset classes if their denominated in a sound money. 243 00:14:20,800 --> 00:14:25,400 And so, you know, you can look at the US dollar price history 244 00:14:25,400 --> 00:14:29,200 of gold to which is relatively not, absolutely scarce. 245 00:14:29,600 --> 00:14:32,700 And if you were to denominated everything in the whole universe 246 00:14:32,700 --> 00:14:36,500 of Assets, in troy ounces of gold, there'd be something 247 00:14:36,500 --> 00:14:41,400 useful there in that data, I believe to and I think even 248 00:14:41,400 --> 00:14:43,300 more. So now that we have something 249 00:14:43,300 --> 00:14:44,700 that's absolutely scarce. Yes. 250 00:14:45,100 --> 00:14:48,200 And can then be transactive ol, you know, on lightning and 251 00:14:48,200 --> 00:14:52,100 everything. So, you know, I think price 252 00:14:52,100 --> 00:14:55,400 suppression is just a subsidy and it's sort of like a shadow 253 00:14:55,400 --> 00:14:59,400 Peg currency peg in a way that's being done. 254 00:15:00,000 --> 00:15:04,600 Sometimes in a really, you know, illicit way I guess by Wall 255 00:15:04,600 --> 00:15:09,000 Street. So, you know, it's it's just a 256 00:15:09,008 --> 00:15:11,000 question of, are they really doing it? 257 00:15:11,000 --> 00:15:13,600 Are they, aren't they? And then if they're doing it, 258 00:15:14,200 --> 00:15:17,300 how That break you know people speculate on the breaking of 259 00:15:17,300 --> 00:15:20,800 currency pegs all the time and it's an asymmetric bet you could 260 00:15:20,800 --> 00:15:23,900 make a lot of money if you're right at the moment, when say 261 00:15:23,900 --> 00:15:27,700 the Swiss franc get son Peg from the Euro and that's a multiple 262 00:15:27,700 --> 00:15:30,400 hundred standard deviation move or something that shouldn't 263 00:15:30,400 --> 00:15:34,300 happen. So yeah, so speculators could 264 00:15:34,300 --> 00:15:37,900 definitely play either side of that trade, if that is indeed 265 00:15:37,900 --> 00:15:43,500 happening because it's artificial Yeah, absolutely. 266 00:15:43,500 --> 00:15:47,600 And Opti, what is the plug perspective on this bro? 267 00:15:47,600 --> 00:15:51,400 Well, first off, I'd loved Alex's point about Fiat, Maxis 268 00:15:51,400 --> 00:15:55,100 and people not switching the unit of account to bitcoin, I 269 00:15:55,500 --> 00:15:58,800 spot on completely spot-on. And then, furthermore, on the 270 00:15:58,800 --> 00:16:02,600 rehypothecation, I love how Caitlyn long frame this. 271 00:16:02,900 --> 00:16:06,600 I say it all the time. You know, that the paper Bitcoin 272 00:16:06,600 --> 00:16:11,000 iou's are definitely a problem. I've been, I've been touting the 273 00:16:11,000 --> 00:16:13,400 same thing. A while, like self custody is 274 00:16:13,400 --> 00:16:16,100 the revolution. Make sure you hold your private 275 00:16:16,100 --> 00:16:17,700 Keys. Make sure you're taking Bitcoin 276 00:16:17,700 --> 00:16:20,100 off exchanges, if you are using exchanges. 277 00:16:20,300 --> 00:16:23,000 And then furthermore, everyone has the memes of like 278 00:16:23,000 --> 00:16:25,400 institutions are coming. You know, the institutions are 279 00:16:25,400 --> 00:16:28,200 coming, the institutions are here, and it's like, yes, they 280 00:16:28,200 --> 00:16:31,100 are here, and they will try to rehypothecation your Bitcoin. 281 00:16:31,100 --> 00:16:35,100 If you do not take your keys into self custody, I would say 282 00:16:35,100 --> 00:16:38,400 this is a feature, but it's definitely a bug, but we know 283 00:16:38,600 --> 00:16:41,600 it's back to the whole idea, you know, people in the Fiat. 284 00:16:41,700 --> 00:16:45,300 Game are going to play or try to continue to play the Fiat games 285 00:16:45,300 --> 00:16:47,300 in Bitcoin until they get wrecked. 286 00:16:47,600 --> 00:16:51,100 And, or furthermore until you guys do Bank runs on the 287 00:16:51,100 --> 00:16:53,400 exchanges out there, like shouts out to. 288 00:16:53,900 --> 00:16:58,600 Is it January 2nd or January 3rd on, you know, the date of of 289 00:16:58,600 --> 00:17:00,900 Bitcoins creation? The take your keys day. 290 00:17:01,200 --> 00:17:05,099 So, you know, as bitcoiners as part of the culture, we 291 00:17:05,099 --> 00:17:08,800 definitely try to get people to understand that self custody is 292 00:17:08,800 --> 00:17:12,400 the way that you can't use an exchange to hold Bitcoin. 293 00:17:12,599 --> 00:17:17,700 But also this reminded me of that one, how many posts where 294 00:17:17,700 --> 00:17:20,700 he talks about in the future. There will be fractional Reserve 295 00:17:20,700 --> 00:17:23,800 Bitcoin Banks and they will be fuel Reserve, Bitcoin Banks and 296 00:17:23,800 --> 00:17:27,599 people in the free market will have to choose what products 297 00:17:27,599 --> 00:17:30,300 they want to use and what risk they're willing to take. 298 00:17:31,100 --> 00:17:35,600 And maybe he was saying that eventually, this this risk and 299 00:17:35,600 --> 00:17:37,600 trade-off will be a lot more up front. 300 00:17:37,700 --> 00:17:42,200 But right now, we definitely know that the institutions are 301 00:17:42,200 --> 00:17:44,500 suppressing the Bitcoin price. We know a lot of people are 302 00:17:44,500 --> 00:17:47,700 rehypothecation their Bitcoin out there and it's up to you 303 00:17:47,700 --> 00:17:50,900 guys to call their Bluff. Take your Bitcoin into self 304 00:17:50,900 --> 00:17:55,200 custody and furthermore, they can only suppress the price of 305 00:17:55,200 --> 00:17:59,800 Bitcoin for so long until the DCA Army and the having takes 306 00:17:59,800 --> 00:18:03,300 over the supply and the demand just eats up all this money. 307 00:18:03,900 --> 00:18:07,600 So guys, continue to DCA continue to stack SATs continue 308 00:18:07,600 --> 00:18:11,500 to spread the sound money gospel because this is the revolution. 309 00:18:11,800 --> 00:18:15,100 Take responsibility for your money and stop. 310 00:18:15,100 --> 00:18:18,100 Outsourcing your trust, guys. Remember what it says in the 311 00:18:18,100 --> 00:18:21,800 white paper, the financial system that we currently live in 312 00:18:21,900 --> 00:18:25,500 is good enough but it just Outsource too much trust. 313 00:18:25,900 --> 00:18:29,100 So we're calling their Bluff. We know these people aren't 314 00:18:29,100 --> 00:18:31,800 trustworthy. We know that. 315 00:18:31,900 --> 00:18:35,700 Hey look, I'd like to think that I'm a noble human, but, you 316 00:18:35,708 --> 00:18:39,000 know, if you gave me the power to control people's money, I'm 317 00:18:39,000 --> 00:18:41,500 pretty sure I would also print more money. 318 00:18:41,600 --> 00:18:45,400 Me and, you know, it's like, you know, it, hey, I am not above my 319 00:18:45,400 --> 00:18:48,500 incentives, I understand this, I am only human. 320 00:18:48,900 --> 00:18:51,000 So, you know, that these people are out here trying to re 321 00:18:51,000 --> 00:18:54,900 hypothecate your Bitcoin, which means take your Bitcoin into 322 00:18:54,900 --> 00:18:58,100 self custody, the revolution is self custody. 323 00:18:58,400 --> 00:19:01,300 We say this all the time, and we're going to continue to say 324 00:19:01,300 --> 00:19:05,500 it forever, because that is the revolution guys. 325 00:19:06,100 --> 00:19:11,000 Boom, exactly, Amen to that. Anyways, let's move on to the 326 00:19:11,000 --> 00:19:16,300 news. Daily News brought to you by 327 00:19:16,300 --> 00:19:18,300 crypto. Cloaks.com, they make some of 328 00:19:18,300 --> 00:19:20,700 the best 3D printed Bitcoin merch. 329 00:19:20,700 --> 00:19:24,400 From node cases to keyrings to the vents on the back of your 330 00:19:24,400 --> 00:19:29,100 Asic for Air Management and of course the famous 3D printed 331 00:19:29,100 --> 00:19:31,400 Bitcoin. Grenade toy which comes in any 332 00:19:31,400 --> 00:19:35,400 custom color, your heart desires you want it in Gold, they make 333 00:19:35,400 --> 00:19:38,300 it in gold and you can take advantage of the promo code down 334 00:19:38,300 --> 00:19:41,600 below to get 5% off crypto cloaks Dot. 335 00:19:41,800 --> 00:19:45,400 Mom. Alright, so today we are 336 00:19:45,400 --> 00:19:51,000 literally going to dunk on eith. We're going to expose a thief 337 00:19:51,000 --> 00:19:54,400 and then we're going to get into the details of how to send 338 00:19:54,700 --> 00:19:57,200 Bitcoin without using the internet. 339 00:19:57,200 --> 00:19:59,500 First of all, this is Brian. Not wrong. 340 00:19:59,500 --> 00:20:04,400 He's the CEO of these shit coin exchange, these chick coin 341 00:20:04,400 --> 00:20:08,100 casino coinbase. He says sanctioning kit 342 00:20:08,100 --> 00:20:11,100 technology as opposed and I'll tell you where the signal is, 343 00:20:11,100 --> 00:20:12,000 right. Right. 344 00:20:12,000 --> 00:20:14,900 Sanctioning technology as opposed to an individual or 345 00:20:14,900 --> 00:20:17,600 entity seems like a bad precedent to me and it should 346 00:20:17,600 --> 00:20:20,700 probably be challenged could have many Downstream unintended 347 00:20:20,700 --> 00:20:23,000 consequences and you're like, okay, you know, at first you're 348 00:20:23,000 --> 00:20:27,300 like yeah, solidarity, Brian Armstrong is standing with us 349 00:20:27,800 --> 00:20:34,600 but If you scroll down, it says hopefully obvious point. 350 00:20:34,900 --> 00:20:40,600 We will always follow the law. How does that apply? 351 00:20:40,700 --> 00:20:43,500 I'll get to it in a sec. This is e. 352 00:20:43,800 --> 00:20:46,800 Nodes, dot-org. This is what I use a lot because 353 00:20:47,300 --> 00:20:50,200 I was dropping some comments, a couple of these last couple 354 00:20:50,200 --> 00:20:53,300 days, right? Where it's really been exposed. 355 00:20:53,300 --> 00:20:57,400 That etherium is really already been captured by the US 356 00:20:57,400 --> 00:21:00,800 government and a lot of the eith people were having such 357 00:21:00,800 --> 00:21:04,400 cognitive dissidence. I had to bring up the receipts, 358 00:21:04,500 --> 00:21:07,600 right? And this is a really good source 359 00:21:07,600 --> 00:21:10,600 for that, right? And you ever Underneath person 360 00:21:10,900 --> 00:21:15,800 we go to network types, right? And this is the type of ethereum 361 00:21:15,800 --> 00:21:19,600 nodes. Remember aetherium is extremely 362 00:21:19,600 --> 00:21:22,800 resource-intensive, right? That's how they have all the 363 00:21:22,800 --> 00:21:25,500 smart contract, capability, etc, etc. 364 00:21:26,200 --> 00:21:31,200 Because of that, you need. It requires High Hardware 365 00:21:31,200 --> 00:21:33,500 requirements or specific Hardware requirements. 366 00:21:33,700 --> 00:21:37,600 Most of which most people don't have at home, right? 367 00:21:37,700 --> 00:21:41,000 So what happens, they Outsource A lot of that, a lot of those 368 00:21:41,000 --> 00:21:42,900 harder requirements to server Farms. 369 00:21:43,500 --> 00:21:46,400 The problem is that there's only a handful of companies that 370 00:21:46,400 --> 00:21:50,400 could afford to run those those server Farms, right? 371 00:21:50,900 --> 00:21:55,000 And here is the companies that are running that and you'll 372 00:21:55,000 --> 00:21:57,100 recognize a lot of them from Amazon. 373 00:21:57,100 --> 00:22:01,300 Amazon right now is running 48% of ethereum nodes. 374 00:22:01,300 --> 00:22:05,000 That's right. Ladies and gentlemen, 48% of 375 00:22:05,000 --> 00:22:09,400 etherium is run on Amazon, web servers servers Oracle. 376 00:22:09,600 --> 00:22:14,900 You've heard of them, Ali, Google Microsoft, oft more 377 00:22:14,900 --> 00:22:18,300 Amazon digitalocean, right? I'm sure you recognize a lot of 378 00:22:18,308 --> 00:22:20,900 these companies. So, what does that mean? 379 00:22:22,000 --> 00:22:25,900 That means that they're very vulnerable to capture by 380 00:22:25,900 --> 00:22:29,200 government. How long until the US government 381 00:22:29,200 --> 00:22:35,600 says, Hey Amazon, Google Oracle. You can't run an etherium node 382 00:22:35,600 --> 00:22:40,400 that's not sanctioned compliant. How long until that happens? 383 00:22:40,800 --> 00:22:45,800 And as you could see with the coinbase CEO, At the end of the 384 00:22:45,800 --> 00:22:48,000 day, they're CEOs, they want to remain business, they're not 385 00:22:48,000 --> 00:22:50,600 revolutionaries. The people are the 386 00:22:50,600 --> 00:22:54,900 revolutionaries and I'll get to the difference in the design 387 00:22:54,900 --> 00:22:58,300 between the two networks, right? Because hopefully, we will 388 00:22:58,300 --> 00:23:00,000 always follow the law. He's the CEO of a public 389 00:23:00,000 --> 00:23:01,500 company. I'm going to fight the 390 00:23:01,500 --> 00:23:04,300 government right now. If you compare that with 391 00:23:04,300 --> 00:23:06,700 Bitcoin, this is why the four cores in 2017. 392 00:23:06,700 --> 00:23:10,600 We're so important because it was the people that rose up to 393 00:23:11,900 --> 00:23:15,000 the most powerful mining. Conglomerate at the time. 394 00:23:15,000 --> 00:23:18,800 Which was bit me and said, hey, we don't want bigger blocks. 395 00:23:18,800 --> 00:23:21,300 Why did we not want bigger blocks? 396 00:23:21,600 --> 00:23:25,400 Bigger blocks require more resources. 397 00:23:25,700 --> 00:23:30,200 Meaning it would require people to invest more and nodes. 398 00:23:30,700 --> 00:23:36,400 Meaning some people would inevitably run those nodes on 399 00:23:36,400 --> 00:23:39,500 servers because it's a lot easier if you just rent, someone 400 00:23:39,500 --> 00:23:42,000 else's computer rather than running it at home. 401 00:23:43,200 --> 00:23:47,600 If you look at how Bitcoin is done, the resource requirements 402 00:23:47,600 --> 00:23:49,100 are low. It's about, it's between two to 403 00:23:49,100 --> 00:23:50,800 three hundred dollars. If you want to build it 404 00:23:50,800 --> 00:23:52,500 yourself. If you want to buy euro note it 405 00:23:52,500 --> 00:23:58,900 goes up to 1,900 bucks. Try doing that with aetherium, 406 00:23:59,000 --> 00:24:02,100 it will require thousands and thousands and thousands of 407 00:24:02,100 --> 00:24:05,600 dollars which is why you get this situation where the 408 00:24:05,600 --> 00:24:11,400 majority of nodes are run on giant server companies, whether 409 00:24:11,400 --> 00:24:17,500 that's a Amazon Google Microsoft and that makes them prone to 410 00:24:17,700 --> 00:24:20,000 capture by government. But it's not only that. 411 00:24:20,100 --> 00:24:23,100 Let's talk about proof of steak or a lot of shit coiners, talk 412 00:24:23,100 --> 00:24:25,500 about oh a proof of stake is going to change things. 413 00:24:25,500 --> 00:24:28,500 No it's not. You know, who the biggest acres 414 00:24:28,500 --> 00:24:33,700 are? Coinbase Kraken. 415 00:24:36,500 --> 00:24:42,300 Bitrex American exchanges that are prone to government 416 00:24:42,300 --> 00:24:46,400 regulation and capture and we saw huge arguments happening on 417 00:24:46,400 --> 00:24:50,400 Twitter and basically where they were talking about is hey the 418 00:24:50,400 --> 00:24:53,000 etherium community needs to stand up. 419 00:24:54,300 --> 00:24:57,800 The etherium community is not in the position that the Bitcoin 420 00:24:57,800 --> 00:25:00,000 Community was in. When they did the user activated 421 00:25:00,000 --> 00:25:04,600 soft work the user activated software, could only happen 422 00:25:05,300 --> 00:25:10,000 because the people run the Bitcoin software by running 423 00:25:10,100 --> 00:25:12,500 their own nodes. Which is why we always advocate 424 00:25:12,500 --> 00:25:16,000 for that on the show. If you want voting power, run 425 00:25:16,000 --> 00:25:19,900 your own note you when you run your own node, you get to decide 426 00:25:19,900 --> 00:25:23,500 as an individual, what Bitcoin software you want to run. 427 00:25:23,800 --> 00:25:26,700 And what Bitcoin software you don't want to run. 428 00:25:26,700 --> 00:25:30,000 But when you Outsource that responsibility to a server Farm 429 00:25:30,000 --> 00:25:32,900 run by a large corporation, that's beholden to the US 430 00:25:32,900 --> 00:25:36,600 government. You don't have that choice, you 431 00:25:36,600 --> 00:25:44,100 Outsource that choice. This is why etherium inevitably 432 00:25:44,300 --> 00:25:48,900 will be captured. this is the future of ethereum and which is 433 00:25:48,900 --> 00:25:54,000 why you have Me theorizing this you have Corey clips and also 434 00:25:54,000 --> 00:25:59,700 theorizing this as well. If you just use common sense, 435 00:25:59,700 --> 00:26:03,800 what is the next logical move? The next logical move is for 436 00:26:03,800 --> 00:26:09,100 aetherium to get in bed with the state to make sure the state 437 00:26:09,100 --> 00:26:13,800 protects it with the regulatory moat and at the same time, 438 00:26:13,800 --> 00:26:16,800 attack Bitcoin, because they want to pump their own bags. 439 00:26:17,500 --> 00:26:21,600 Aetherium is not built to separate money from State. 440 00:26:21,600 --> 00:26:26,100 It's a scam, it's always been a scam now because I'm saying that 441 00:26:26,100 --> 00:26:29,800 that doesn't mean that in the short-term etherium can't 442 00:26:29,800 --> 00:26:34,300 outperform Bitcoin. Does it mean that? 443 00:26:35,800 --> 00:26:37,700 But what it, what are you here for? 444 00:26:38,300 --> 00:26:43,400 What gets you up in the morning? I came here to get rich. 445 00:26:43,500 --> 00:26:45,600 I'm not going to lie as well. I got into Bitcoin. 446 00:26:47,400 --> 00:26:49,400 But I stayed here for the revolution. 447 00:26:49,900 --> 00:26:53,500 I stayed here because I want to free Mankind, from the tyranny 448 00:26:53,500 --> 00:26:55,500 of Central Banking. That's what this is about. 449 00:26:55,500 --> 00:26:57,200 That's what gets me up in the morning. 450 00:26:57,400 --> 00:27:00,500 Absolutely. And only Bitcoin through its 451 00:27:00,500 --> 00:27:03,900 decentralization is capable of doing that. 452 00:27:05,000 --> 00:27:09,600 Aetherium and it's already doing that, they're already advocating 453 00:27:09,600 --> 00:27:11,700 for Central Bank, digital currencies being built on 454 00:27:11,700 --> 00:27:14,400 ethereum. They're already using their 455 00:27:14,400 --> 00:27:17,900 marketing money to attack, Bitcoins proof of work, which is 456 00:27:17,900 --> 00:27:19,800 what makes Bitcoin uncorruptable. 457 00:27:23,000 --> 00:27:25,900 Anyways, what are your thoughts on this city? 458 00:27:25,900 --> 00:27:30,500 Then we'll go ahead and hit it first. 459 00:27:30,800 --> 00:27:38,300 It was a good ramp. No, I agree. 460 00:27:38,300 --> 00:27:42,700 I do I have an echo. It's all good. 461 00:27:44,300 --> 00:27:49,300 The the whole point of a central bank, right? 462 00:27:49,300 --> 00:27:53,400 Is to run a currency Zone but then to kind of obfuscate that 463 00:27:53,400 --> 00:27:58,600 fact and so the fact that You know, now we're talking about 464 00:27:58,600 --> 00:28:02,300 CBD seize. The people that should be really 465 00:28:02,700 --> 00:28:04,400 confused or worried about that, right? 466 00:28:04,400 --> 00:28:07,700 Are the bankers themselves that are in the FED system or in each 467 00:28:07,700 --> 00:28:10,700 of these currencies on Management Systems because 468 00:28:10,700 --> 00:28:13,400 they're the ones who've been lending that currency into 469 00:28:13,400 --> 00:28:15,700 existence. I mean, everyone should be 470 00:28:15,700 --> 00:28:19,600 worried about it because of the surveillance aspect but it's 471 00:28:20,600 --> 00:28:26,300 it's clearly a move to cashless Society worldwide and that's 472 00:28:26,300 --> 00:28:27,400 really bad. Delivery. 473 00:28:28,100 --> 00:28:31,100 I think that's just categorically that for Liberty 474 00:28:31,100 --> 00:28:34,900 and and it's a little ironic with bitcoiners to kind of 475 00:28:34,900 --> 00:28:38,000 attack on the Cashflow subject because obviously we want 476 00:28:38,000 --> 00:28:43,900 Bitcoin to be cashless but we also want it to enhance Liberty 477 00:28:43,900 --> 00:28:46,300 everywhere it touches everywhere in the world. 478 00:28:46,400 --> 00:28:52,500 The way to do that is to make sure there are crossovers to 479 00:28:52,600 --> 00:28:56,300 completely Anonymous cash, equivalents and cash. 480 00:28:56,800 --> 00:29:01,100 I mean, the idea of having your seed phrase, on a metal plate, 481 00:29:01,100 --> 00:29:03,900 is physical, right? And so that's feels like cash 482 00:29:03,900 --> 00:29:05,900 and opened. I'm as a little physical a bit 483 00:29:05,900 --> 00:29:08,800 of Bitcoin so that feels sort of like cash. 484 00:29:10,000 --> 00:29:12,700 I think that there's a lot of good ethos in the community 485 00:29:12,700 --> 00:29:15,900 toward resisting cashless Society nonsense. 486 00:29:17,000 --> 00:29:20,400 Absolutely. And, and that's the key, right? 487 00:29:20,400 --> 00:29:24,700 Is that fine? They want to move it a cashless 488 00:29:24,700 --> 00:29:26,600 Society. At the end of the day they're 489 00:29:26,600 --> 00:29:30,000 the Ones that control that money right with Bitcoin is it's like 490 00:29:30,000 --> 00:29:34,100 listen we're just going to opt out completely of your system. 491 00:29:34,100 --> 00:29:36,200 You want to take it to this dystopian? 492 00:29:37,400 --> 00:29:41,100 You know, vision of the future where these Central planners 493 00:29:41,100 --> 00:29:43,200 control every single move you do. 494 00:29:43,200 --> 00:29:46,400 And now they're going down the bid of now you can eat certain 495 00:29:46,400 --> 00:29:49,300 foods because you know, Carbon and all that BS. 496 00:29:49,700 --> 00:29:51,300 Yeah. Bitcoin is the way out. 497 00:29:51,300 --> 00:29:54,100 And which is why we always say on the show, we're going to keep 498 00:29:54,100 --> 00:29:57,700 saying it till the end of time until they take us off the air 499 00:29:57,900 --> 00:30:01,800 Bitcoin or slavery. Anyways Opti, what's up, yeah? 500 00:30:01,800 --> 00:30:08,500 Mika, Jones and full of fact. Let's go first off Shout out to 501 00:30:08,500 --> 00:30:13,000 Jeff Bezos the true owner of ethereum 48% of he's nodes 502 00:30:13,000 --> 00:30:16,300 running on AWS servers amazing amazing. 503 00:30:16,300 --> 00:30:20,400 Imagine being a part of the the pseudo decentralization theater 504 00:30:20,400 --> 00:30:22,900 art, that is aetherium and shit coins. 505 00:30:23,500 --> 00:30:28,000 And then this this reminded me of thought it was a joke, right? 506 00:30:28,000 --> 00:30:29,500 I first read about ether. Yeah. 507 00:30:29,700 --> 00:30:33,000 All right, exactly. So this this reminds me of the 508 00:30:33,000 --> 00:30:37,400 tweet that I put up yesterday by Bitcoin is saving and it was the 509 00:30:37,400 --> 00:30:38,200 eye. Yeah, yeah. 510 00:30:38,200 --> 00:30:40,200 Oh my God. Shout out Jeff Bezos. 511 00:30:41,200 --> 00:30:43,100 Yeah, he's laughing all the way to the bank. 512 00:30:43,100 --> 00:30:45,600 Anyways, this reminds me of Bitcoin is savings tweet that I 513 00:30:45,608 --> 00:30:49,800 mentioned yesterday about bitcoiners bullying and ofak 514 00:30:49,800 --> 00:30:54,800 compliant company and he's heads meth heads just crumbling to the 515 00:30:54,800 --> 00:30:58,600 ofac compliance to all you Eve guys out there when ofac 516 00:30:58,600 --> 00:31:01,600 compliant nodes because we know that's coming soon. 517 00:31:01,900 --> 00:31:06,800 And then furthermore you said something on the lines of when 518 00:31:06,800 --> 00:31:10,700 we'll eat Aligned with the state and I will just double down and 519 00:31:10,700 --> 00:31:13,200 say that eath is already aligned with the state. 520 00:31:13,300 --> 00:31:16,700 Look at who is backing you look at who they're partnered with. 521 00:31:17,500 --> 00:31:20,600 It's pretty clear follow the money and you will see what is 522 00:31:20,600 --> 00:31:24,000 happening. And then furthermore Nico I'm 523 00:31:24,000 --> 00:31:29,200 not the biggest fan of the meme of voting power with your node 524 00:31:29,200 --> 00:31:33,200 but I do understand what you're saying that choose your rules 525 00:31:33,800 --> 00:31:36,200 and that is what is going on here, guys. 526 00:31:36,200 --> 00:31:39,100 Vote with your pocketbook. Use a node, Don't just run a 527 00:31:39,108 --> 00:31:41,000 node. Use a node verify your 528 00:31:41,000 --> 00:31:43,900 transactions with that note because then, you know, you're 529 00:31:43,900 --> 00:31:48,400 actually using Bitcoin and you are on the Bitcoin Network. 530 00:31:48,800 --> 00:31:52,400 And then furthermore, I will also double down on the meme. 531 00:31:52,400 --> 00:31:55,600 Guys, came for the money, but stayed the fix the money. 532 00:31:56,000 --> 00:32:00,400 This is, this is just the normal one of the normal Bitcoin 533 00:32:00,400 --> 00:32:04,200 feedback loops number goes up, people get caught up in in the 534 00:32:04,200 --> 00:32:07,800 fomo and then they start to double down an Tation. 535 00:32:07,800 --> 00:32:10,900 They go farther down the rabbit hole and then they realize there 536 00:32:10,900 --> 00:32:13,200 is no going back to the Fiat system. 537 00:32:13,200 --> 00:32:16,100 I don't understand how anyone could become a Bitcoin or how 538 00:32:16,100 --> 00:32:18,000 anyone could get fully orange peeled. 539 00:32:18,300 --> 00:32:21,300 And then they go back to the Fiat system. 540 00:32:21,900 --> 00:32:24,700 It's literally that scene from The Matrix where the guy, you 541 00:32:24,700 --> 00:32:27,800 know, unplugs and, and he's eating the steak and he's like, 542 00:32:27,800 --> 00:32:29,600 man. I know it's fake, but it tastes 543 00:32:29,600 --> 00:32:32,800 so good. Like, I just, I can't, I can't 544 00:32:32,800 --> 00:32:36,200 in my right mind. See a big Corner. 545 00:32:36,200 --> 00:32:38,200 Really go back to the field. Is the mic. 546 00:32:38,300 --> 00:32:40,800 There is no alternative guys, we say this all the time. 547 00:32:40,800 --> 00:32:44,300 Bitcoin fixes us. Bitcoin is Bitcoin is Hope and 548 00:32:44,300 --> 00:32:47,500 that's why we do what we do. But furthermore, I'm gonna 549 00:32:47,500 --> 00:32:51,700 Double Down, guys, a push to a cashless Society in my opinion, 550 00:32:51,700 --> 00:32:54,300 just means a hyper Bitcoin eyes world. 551 00:32:54,400 --> 00:32:58,200 I have faith in humanity as these totalitarian and these 552 00:32:58,200 --> 00:33:01,700 authoritarians double down on, making sure that you are tet 553 00:33:01,700 --> 00:33:06,300 tracked, bagged and compliant. People will find the Escape door 554 00:33:06,300 --> 00:33:11,800 and that escape door is Bitcoin. So, as much as I am concerned 555 00:33:11,800 --> 00:33:14,700 and worried about these totalitarian in these 556 00:33:14,700 --> 00:33:19,300 authoritarians trying to push Society to a cashless CBC type 557 00:33:19,300 --> 00:33:25,500 system, we have Bitcoin and people will escape into Bitcoin 558 00:33:25,700 --> 00:33:31,100 because no one in their right mind wants to be chattel. 559 00:33:31,800 --> 00:33:34,900 You like we said it, we say it all the time it's Bitcoin or 560 00:33:34,900 --> 00:33:37,300 it's slavery. And this isn't even hype like 561 00:33:37,300 --> 00:33:38,100 hi. Bali. 562 00:33:38,500 --> 00:33:40,800 It's literally in their rhetoric. 563 00:33:40,800 --> 00:33:43,300 They want to control you completely, they want to make 564 00:33:43,300 --> 00:33:45,200 sure that they can shut you off Society. 565 00:33:45,200 --> 00:33:48,300 If you have wrong, think they want to make sure that you can't 566 00:33:48,300 --> 00:33:51,900 even save money. This is absolutely disgusting. 567 00:33:51,900 --> 00:33:56,400 Anti Human Behavior. They're stealing your life force 568 00:33:56,800 --> 00:33:59,300 and they know it. These parasites at the top. 569 00:33:59,300 --> 00:34:01,600 Shouts out to praveena. I'm stealing that Meme. 570 00:34:02,200 --> 00:34:07,000 Want you in total control? It's absolutely disgusting. 571 00:34:07,100 --> 00:34:09,300 This is Why we Bitcoin? This is why we spread the sound 572 00:34:09,300 --> 00:34:11,500 money gospel. This is why we show up every 573 00:34:11,500 --> 00:34:15,699 single day to make sure that people understand that. 574 00:34:15,699 --> 00:34:19,300 Yes, this is actually happening. This isn't a conspiracy. 575 00:34:19,800 --> 00:34:23,000 This is in the rhetoric in the writings, but you have a 576 00:34:23,007 --> 00:34:25,600 solution and the solution is Bitcoin. 577 00:34:25,600 --> 00:34:28,000 Remember what? We were talking about with 1971 578 00:34:28,000 --> 00:34:31,000 and how people didn't even know there was a problem, you know, 579 00:34:31,000 --> 00:34:33,600 people still don't even know what Fiat means out there. 580 00:34:34,600 --> 00:34:38,000 But we have Bitcoin guys, so you guys need to be louder. 581 00:34:38,000 --> 00:34:39,800 You guys need to be proud to be a Bitcoin. 582 00:34:39,800 --> 00:34:42,699 ER, you need to spread the sound money gospel, because there is 583 00:34:42,699 --> 00:34:45,600 no alternative and who knows how long they can kick the can down 584 00:34:45,600 --> 00:34:49,300 the road, but if you need Bitcoin, it's already too late. 585 00:34:49,300 --> 00:34:53,000 You want to be prepared and Save in Bitcoin, because you never 586 00:34:53,000 --> 00:34:54,400 know what the hell is going to happen, man. 587 00:34:54,400 --> 00:34:57,500 It's getting crazy out. There it is, getting crazy out 588 00:34:57,500 --> 00:34:58,900 there. That's right. 589 00:34:58,900 --> 00:35:01,700 That's right. Anyways, moving on, moving on, 590 00:35:01,700 --> 00:35:03,500 we have a little bit of time left to cover this. 591 00:35:03,900 --> 00:35:07,500 How do you? Bitcoin without the internet. 592 00:35:07,600 --> 00:35:12,600 That is it questions? So, it says, imagine waking up 593 00:35:12,600 --> 00:35:14,400 one morning to find that the internet is down. 594 00:35:14,400 --> 00:35:16,400 Not because the Wi-Fi has been disconnected. 595 00:35:16,400 --> 00:35:19,000 Instead, your government has pulled the plug, you have, no, 596 00:35:19,000 --> 00:35:22,000 you have no idea when he'll be back online and in the meantime, 597 00:35:22,000 --> 00:35:24,900 you're cut off from life as, you know, it ranging from contact 598 00:35:24,900 --> 00:35:27,300 from loved ones abroad to paying for anything by card. 599 00:35:27,300 --> 00:35:29,900 Since Society isn't big on keeping cash. 600 00:35:29,900 --> 00:35:33,700 These days and ATM stock up. Only so much paper money, at a 601 00:35:33,700 --> 00:35:35,900 time. Chances are, you'll have to step 602 00:35:35,900 --> 00:35:39,100 aside or engage in a few of his fist fights. 603 00:35:39,400 --> 00:35:43,400 If you're to put a meal on the table, Since Bitcoin is itself, 604 00:35:43,400 --> 00:35:46,500 a form of digital currency would amount of pre-planning to set up 605 00:35:46,500 --> 00:35:49,000 a transaction. But in theory it could still 606 00:35:49,000 --> 00:35:53,200 operate even when conventional options are forced fortunately 607 00:35:53,200 --> 00:35:57,800 removed from the equation. Depending on the political 608 00:35:57,800 --> 00:36:00,000 stability of your geographic location. 609 00:36:00,000 --> 00:36:02,300 Learning how to send Bitcoin without the internet. 610 00:36:02,300 --> 00:36:05,100 Could be nothing more than a fun Sunday afternoon science 611 00:36:05,100 --> 00:36:07,000 project. Then again it could provide the 612 00:36:07,000 --> 00:36:10,800 way out of a tight spot one day. Now what are those methods? 613 00:36:10,900 --> 00:36:14,800 This is the first one come 2018. There is a new experiment, Town 614 00:36:14,800 --> 00:36:18,500 ingredients book, brooklyn-based, go Tena, great 615 00:36:18,500 --> 00:36:22,600 company, a mobile mobile long-range off-grid consumer 616 00:36:22,600 --> 00:36:26,300 mesh Network and a privacy will privacy wallet, Samurai wallet. 617 00:36:26,600 --> 00:36:29,300 New Zealand developer transported Bitcoin or shit 618 00:36:29,300 --> 00:36:33,000 going from a distance of twelve point six kilometers away 619 00:36:33,200 --> 00:36:36,700 entirely offline using only a network. 620 00:36:36,700 --> 00:36:39,700 Disconnected. Android phone and for portable 621 00:36:39,700 --> 00:36:41,400 antennas. This is what we're talking 622 00:36:41,400 --> 00:36:44,000 about. The mesh Network, this is an 623 00:36:44,000 --> 00:36:46,500 example of the mesh Network being used. 624 00:36:46,500 --> 00:36:49,400 The downside of that, of course, is, that's a lot of relay 625 00:36:49,400 --> 00:36:51,400 stations, right? That's a lot of Hardware. 626 00:36:51,500 --> 00:36:54,000 Now, let's move on to the next one. 627 00:36:54,200 --> 00:36:56,400 This is the famous one. This is the one that nvk. 628 00:36:56,500 --> 00:37:02,700 He has pinned to his Twitter and he sent Bitcoin through ham 629 00:37:02,700 --> 00:37:05,200 radio. So, with Novak and Patterson's 630 00:37:05,500 --> 00:37:09,900 latest feature crypto, Twitter went wild Zabo showing that he's 631 00:37:09,900 --> 00:37:12,200 still a firm. Proponent of taking Bitcoin 632 00:37:12,200 --> 00:37:14,300 Skyward. Chimed in to congratulate 633 00:37:14,400 --> 00:37:18,500 congratulate the duo for a successful send-off that not 634 00:37:18,500 --> 00:37:23,900 even a snowstorm could stop. So what are they talking about? 635 00:37:24,200 --> 00:37:26,900 Yeah it's really really absolutely badass. 636 00:37:27,300 --> 00:37:32,700 So bam, Bitcoin sent over seven point zero, seven seven MHz via 637 00:37:32,800 --> 00:37:37,900 js8 call to Samuel Pat right. So and I don't know if you guys 638 00:37:37,900 --> 00:37:42,500 know a lot about ham radio it but it bounces off the 639 00:37:42,500 --> 00:37:46,100 ionosphere. So a ham radio signal from India 640 00:37:46,100 --> 00:37:48,900 which is halfway across the planet of where I am today, 641 00:37:49,000 --> 00:37:53,800 which is on the east coast of the States ham, radio signal 642 00:37:53,800 --> 00:37:56,700 from India, could get here. And if I have a radio, if I have 643 00:37:56,700 --> 00:38:00,400 a ham radio, I could hear their Transmissions right. 644 00:38:00,400 --> 00:38:04,400 So it's very long distance and what Novak would nvk proved 645 00:38:04,400 --> 00:38:05,300 here? Was that? 646 00:38:05,300 --> 00:38:09,800 Yes, you can send signal through radio but what about the other 647 00:38:09,800 --> 00:38:12,100 alternative? The other alternative, which 648 00:38:12,100 --> 00:38:14,500 honestly is my favorite right now? 649 00:38:14,700 --> 00:38:19,200 It's the block stream satellite. Yes, block stream has a 650 00:38:19,200 --> 00:38:20,900 satellite or multiple satellites. 651 00:38:21,000 --> 00:38:25,100 Literally in space that you can connect to the Bitcoin Network, 652 00:38:25,100 --> 00:38:27,800 through the block stream satellite network broadcast, the 653 00:38:27,800 --> 00:38:31,500 Bitcoin blockchain around the world 24/7 for free protecting 654 00:38:31,500 --> 00:38:34,700 against Network interruptions and providing areas without 655 00:38:34,700 --> 00:38:38,400 reliable internet connections with the opportunity to use 656 00:38:38,500 --> 00:38:41,300 Bitcoin. But it's not only that this new 657 00:38:41,300 --> 00:38:44,400 company which is why I wanted to cover this today, Bitcoin, 658 00:38:44,400 --> 00:38:47,100 without internet. Now, you can send Bitcoin 659 00:38:47,100 --> 00:38:50,700 through SMS. Now, the unfortunate about a part about 660 00:38:50,700 --> 00:38:53,500 this Right? Is that it's a centralized 661 00:38:53,500 --> 00:38:56,700 service but it actually makes a lot of sense, right? 662 00:38:56,700 --> 00:39:00,200 And Kenya goat on he's home home, which I'm assuming he's 663 00:39:00,200 --> 00:39:03,000 the founder of this company. He explains that topping up a 664 00:39:03,000 --> 00:39:06,100 phone with airtime is as commas as credit card payments in the 665 00:39:06,100 --> 00:39:10,400 west, a report by Caribou backs to the statement. 94% Financial 666 00:39:10,400 --> 00:39:13,900 transactions in. Africa are through ussd, the 667 00:39:13,900 --> 00:39:17,900 protocol used to send text messages, whereas just 6% of 668 00:39:17,900 --> 00:39:22,100 these transactions are made Via mobile apps, Soooo in some while 669 00:39:22,100 --> 00:39:25,100 there are millions of phones in Africa, they're mostly used for 670 00:39:25,100 --> 00:39:27,800 texting kg has stumbled onto something. 671 00:39:27,800 --> 00:39:32,400 That could be huge for Bitcoin adoption in Africa and that's 672 00:39:32,400 --> 00:39:34,000 badass. Here is an example, some 673 00:39:34,000 --> 00:39:37,600 screenshots of that happening. Right has gifted you ten ten 674 00:39:37,600 --> 00:39:40,000 thousand SATs, right. And all you have to do is 675 00:39:40,000 --> 00:39:43,700 through text messages and also another thing is that Bitcoin at 676 00:39:43,700 --> 00:39:47,800 the end of the day Bitcoin is tax, Bitcoin is speech so you 677 00:39:47,800 --> 00:39:52,600 can sign a transaction. Forest comes to worse. 678 00:39:52,600 --> 00:39:55,900 I don't suggest this but technically you can do it by 679 00:39:55,900 --> 00:39:58,700 hand. Technically you could hide a 680 00:39:58,700 --> 00:40:02,100 Bitcoin transaction in a ton of emojis, right? 681 00:40:02,100 --> 00:40:05,000 And you could write up a software that could interpret 682 00:40:05,000 --> 00:40:08,900 those emojis as certain characters and boom, that is 683 00:40:08,900 --> 00:40:12,000 assigned Bitcoin transaction. Now, why am I telling you all of 684 00:40:12,000 --> 00:40:14,500 this? I'm telling you all of this to 685 00:40:14,500 --> 00:40:18,500 make the point that you can't stop the signal. 686 00:40:18,600 --> 00:40:27,000 You can't stop the honey badger. Censorship and tyranny and the 687 00:40:27,400 --> 00:40:31,000 Quest for a better life to improve your living situation 688 00:40:31,200 --> 00:40:35,300 is, the mother of innovation people will find the way like 689 00:40:35,300 --> 00:40:39,400 water going around a walk, a rock and then over time, that 690 00:40:39,400 --> 00:40:43,800 water will chip off at the rock over a long time, period, right. 691 00:40:43,800 --> 00:40:46,800 Can't stop Bitcoin. Eventually the signal goes 692 00:40:46,800 --> 00:40:50,200 through. So why is this so consequential? 693 00:40:50,300 --> 00:40:53,200 It doesn't matter. If you're living in the most 694 00:40:53,200 --> 00:40:56,600 totalitarian country, let's give the example of North Korea. 695 00:40:56,800 --> 00:41:01,100 Now, with Bitcoin, you for the first hint, time in your life, 696 00:41:01,100 --> 00:41:04,900 have the chance to own private property, even in that 697 00:41:04,900 --> 00:41:10,300 totalitarian state without fear of censorship or government 698 00:41:10,300 --> 00:41:13,400 seizure, they would need to find out that you have that Bitcoin 699 00:41:13,400 --> 00:41:15,900 wallet and they would still need to find out your sea. 700 00:41:15,900 --> 00:41:18,300 Of course, you know, they could torture you, they could put you 701 00:41:18,300 --> 00:41:21,300 in a box that can tell you that in there you they could tell you 702 00:41:21,300 --> 00:41:23,400 that you're not. Not going anywhere, fine. 703 00:41:23,500 --> 00:41:26,200 A government or a nation-state could definitely do that on an 704 00:41:26,200 --> 00:41:30,700 individual by individual basis, but try doing that to a whole 705 00:41:30,700 --> 00:41:34,400 country's population how you going to convince a whole bunch 706 00:41:34,400 --> 00:41:38,100 of people? Hey hand over your Bitcoin seed, 707 00:41:38,100 --> 00:41:43,300 for your safety and this, ladies and gentlemen, because it's so 708 00:41:43,300 --> 00:41:46,600 hard to stop the signal. It's so hard for governments to 709 00:41:46,600 --> 00:41:48,900 confiscate and redistribute wealth. 710 00:41:48,900 --> 00:41:51,600 Effectively is why I believe this. 711 00:41:51,800 --> 00:41:55,100 Is going to completely change, the relationship between 712 00:41:55,100 --> 00:41:57,200 individuals and their governments. 713 00:41:57,400 --> 00:41:59,400 And this is going to change the dynamic. 714 00:41:59,400 --> 00:42:01,500 And eventually in, this is the theory in the sovereign 715 00:42:01,500 --> 00:42:04,300 individual. You're going to start to see a 716 00:42:04,300 --> 00:42:08,200 customer type relationship with governments rather than the one 717 00:42:08,200 --> 00:42:11,400 that they have today, which is more like Russian surf, pay your 718 00:42:11,400 --> 00:42:13,800 taxes, shut up. Inflation is high. 719 00:42:13,800 --> 00:42:15,900 We're going to hire 87,000 agents. 720 00:42:16,000 --> 00:42:20,000 Just to make sure that you don't complain too much with Bitcoin. 721 00:42:20,000 --> 00:42:22,900 It gives you the power to vote. With your wallet and vote with 722 00:42:22,900 --> 00:42:25,300 your feet. And now I suspect you're going 723 00:42:25,300 --> 00:42:28,800 to see more and more Sovereign individuals going to 724 00:42:28,800 --> 00:42:31,700 jurisdictions in which they are treated best. 725 00:42:31,700 --> 00:42:34,300 And we already started to see that a little bit with Bitcoin 726 00:42:34,300 --> 00:42:38,300 Miners and how they on a completely decentralized basis, 727 00:42:38,300 --> 00:42:43,200 following their own incentives migrated from China to the 728 00:42:43,200 --> 00:42:47,700 United States looking for financial opportunity, looking 729 00:42:47,700 --> 00:42:49,800 for profit. And that profit I think is one 730 00:42:49,800 --> 00:42:51,600 of the best incentives ever created. 731 00:42:51,800 --> 00:42:54,700 And it is definitely a lot stronger than the only thing 732 00:42:54,700 --> 00:42:56,800 they have left, which is coercion. 733 00:42:56,900 --> 00:42:58,500 Anyways, Opti, what are your thoughts brother? 734 00:42:59,500 --> 00:43:02,300 Well, Nico, I'm really glad that you covered this. 735 00:43:02,300 --> 00:43:04,700 This article Chef's out to that company. 736 00:43:04,700 --> 00:43:08,900 My chinkara, I believe it means money or something of the like 737 00:43:08,900 --> 00:43:11,200 in. And I don't know what language. 738 00:43:11,200 --> 00:43:14,800 But anyways, I was going to cover this for the culture, but 739 00:43:14,800 --> 00:43:17,200 I was going to cover in a different light and it's 740 00:43:17,200 --> 00:43:20,500 essentially the signal is, spreading guys to the places 741 00:43:20,500 --> 00:43:21,900 that need it first. First. 742 00:43:22,200 --> 00:43:25,200 And, you know, like a lot of people can say what they want 743 00:43:25,200 --> 00:43:27,500 about Bitcoin in the first world, or what have you. 744 00:43:27,500 --> 00:43:31,700 But as we've seen countries in the third world and individuals 745 00:43:31,700 --> 00:43:35,500 are adopting Bitcoin, and this is absolutely bullish because 746 00:43:36,400 --> 00:43:41,200 imagine just just having really bad, bad currencies, and that 747 00:43:41,200 --> 00:43:44,400 being your only option and then further more than you have to go 748 00:43:44,400 --> 00:43:46,800 to the ultimate shit coin, which is the dollar. 749 00:43:47,600 --> 00:43:49,600 But, you know, the signal spreading. 750 00:43:49,800 --> 00:43:57,300 And the people that Bitcoin will get Bitcoin first and those that 751 00:43:58,200 --> 00:44:01,000 we don't paint in good light will get Bitcoin last. 752 00:44:01,000 --> 00:44:02,600 And this is a feature, not a bug. 753 00:44:02,600 --> 00:44:05,300 So shout-out to imagine Cora. I think this is a really 754 00:44:05,300 --> 00:44:07,400 awesome. I listened to a space over the 755 00:44:07,400 --> 00:44:11,500 weekend and super bullish on this idea and also shouts out to 756 00:44:11,500 --> 00:44:13,600 us TECO. They partnered with my chinkara, 757 00:44:13,800 --> 00:44:17,000 one of my favorite Bitcoin companies and I just love what 758 00:44:17,000 --> 00:44:19,400 they're doing, this is just absolutely bullish in my 759 00:44:19,400 --> 00:44:21,500 opinion. I can't wait to see this this 760 00:44:21,600 --> 00:44:26,300 This type of Bitcoin product spread out across the world 761 00:44:26,300 --> 00:44:31,500 because people need Bitcoin and the signal can't be stopped. 762 00:44:31,500 --> 00:44:36,000 So like this is this is I think also just a testament to what 763 00:44:36,000 --> 00:44:39,600 Niko we says, you know people cannot fathom the idea of 764 00:44:39,600 --> 00:44:43,800 innovation and how humans can innovate and continue to Route 765 00:44:43,800 --> 00:44:48,200 Around The Legacy system. And this is just another example 766 00:44:48,200 --> 00:44:50,800 of that man, you know like first we have El Salvador. 767 00:44:50,800 --> 00:44:53,600 Now we have what Like Bitcoin Lake in Guatemala. 768 00:44:53,600 --> 00:44:56,300 We have a few more Latin American countries that are 769 00:44:56,300 --> 00:44:59,900 doing their own initiatives, to spread the sound money gospel. 770 00:45:00,300 --> 00:45:04,200 And now we're continuing to do this on the African continent, 771 00:45:04,300 --> 00:45:07,800 it just absolutely bullish. I'm really excited to see how 772 00:45:07,800 --> 00:45:11,200 far this product goes and and this company goes and how many 773 00:45:11,200 --> 00:45:14,000 users they can get. And then furthermore, just to 774 00:45:14,000 --> 00:45:17,400 see more people and more Domino's follow along with with 775 00:45:17,400 --> 00:45:19,400 this kind of product or these kind of ideas. 776 00:45:19,400 --> 00:45:21,500 So, in my opinion, absolutely Bulletproof. 777 00:45:21,600 --> 00:45:23,300 Josh, I'm really glad that we covered this one. 778 00:45:27,000 --> 00:45:29,700 You're muted, Nico, your thoughts Alex, and then we'll 779 00:45:29,700 --> 00:45:33,300 move on to the culture. Sure. 780 00:45:33,400 --> 00:45:41,900 Yeah, I think that the The whole idea of Distributing it out, 781 00:45:42,400 --> 00:45:46,000 it's sort of an echo you know, in an easy format. 782 00:45:46,000 --> 00:45:51,700 So text message or whatever or having these other ways to get 783 00:45:51,700 --> 00:45:56,100 it over ham radio you know into third world countries. 784 00:45:56,500 --> 00:46:02,400 It's sort of an echo of El. Salvador are dropping which as a 785 00:46:02,400 --> 00:46:06,200 Libertarian and me didn't like a whole lot because it's kind of 786 00:46:06,200 --> 00:46:10,800 like a you VI in a way to just tear drop money free money on 787 00:46:10,800 --> 00:46:12,500 people or free Bitcoin on people. 788 00:46:12,800 --> 00:46:20,200 So the interesting thing that happens when you imagine a whole 789 00:46:20,200 --> 00:46:23,900 lot more suddenly a whole lot more medium of exchange 790 00:46:23,900 --> 00:46:28,500 occurring in a given Zone like El Salvador or even with all 791 00:46:28,500 --> 00:46:32,200 these little text message, transactional, things happening 792 00:46:32,200 --> 00:46:35,600 say in Africa. Is that the velocity goes up, 793 00:46:35,600 --> 00:46:37,200 right? The monetary value, Velocity 794 00:46:37,200 --> 00:46:40,600 goes up by a lot for the sets that are actually being used to 795 00:46:40,600 --> 00:46:43,300 trade goods and services on the ground in the real economy. 796 00:46:43,800 --> 00:46:48,200 And it's not clear to me just the economics of that. 797 00:46:48,200 --> 00:46:52,200 Oh whether or not that you know what that would do for the 798 00:46:52,200 --> 00:46:55,700 dollar price, right? But the certainly the local 799 00:46:55,700 --> 00:46:59,400 currency that it's replacing like the naira Nigeria or 800 00:46:59,400 --> 00:47:03,200 something is going to be competing, then against directly 801 00:47:03,200 --> 00:47:05,400 against that. And so the response of 802 00:47:05,400 --> 00:47:10,400 governments is Is huge because then at that point, they're 803 00:47:10,400 --> 00:47:12,900 going to see that as a direct threat to their currency like 804 00:47:12,900 --> 00:47:17,100 erdowan did in turkey and they're going to respond with a 805 00:47:17,100 --> 00:47:21,600 feedback loop of tyranny or you know, forcing people to do 806 00:47:21,600 --> 00:47:25,300 certain things. And before I came on Nico I was 807 00:47:25,300 --> 00:47:29,100 reading up about the Venezuelan hyperinflation a little bit and 808 00:47:29,100 --> 00:47:32,100 you know Maduro even made it illegal to post the real 809 00:47:32,100 --> 00:47:34,100 numbers. I guess of what was going on 810 00:47:34,100 --> 00:47:36,600 with the inflation and things like that. 811 00:47:36,600 --> 00:47:39,900 That. So it's it's so much of this 812 00:47:40,400 --> 00:47:43,200 currency war on the hyper, local level. 813 00:47:43,300 --> 00:47:47,500 And a lot of these innovations that are going to push it to be 814 00:47:47,500 --> 00:47:50,200 medium of exchange. At that local level are going to 815 00:47:50,208 --> 00:47:53,300 trigger governments, to do more and more stupid stuff. 816 00:47:54,900 --> 00:48:01,600 Yep, absolutely Opti. Let's move on to the Daily 817 00:48:01,600 --> 00:48:07,500 Culture by Akasha. Daily culture brought to you by 818 00:48:07,500 --> 00:48:11,000 Swan Bitcoin.com. Swan is the best way to build 819 00:48:11,000 --> 00:48:13,900 your Bitcoin stack with automated Bitcoin savings plans 820 00:48:13,900 --> 00:48:17,400 and instant purchases serving clients of any size from ten 821 00:48:17,400 --> 00:48:22,700 dollars to ten million dollars Swan, incentivizes self custody 822 00:48:22,800 --> 00:48:25,500 and they also incentivize dollar cost. 823 00:48:25,500 --> 00:48:30,200 Averaging spread out that risk, visit Swan Bitcoin.com today. 824 00:48:30,700 --> 00:48:32,300 All right, before the daily culture, I want to give a 825 00:48:32,308 --> 00:48:35,200 special shout-out to Pacific Bitcoins and be the largest 826 00:48:35,400 --> 00:48:37,600 Bitcoin conference on the west coast. 827 00:48:37,700 --> 00:48:41,600 In sunny sunny Los Angeles. California November, 10th 10th 828 00:48:41,600 --> 00:48:44,500 through the 11-speaker list includes core Eclipse than Jeff 829 00:48:44,500 --> 00:48:47,900 Booth Dylan, the Claire Pierre. Richard Mark Moss, Alex 830 00:48:47,900 --> 00:48:51,400 gladstein, doc, Jeff, Ross. And many, many more. 831 00:48:51,400 --> 00:48:53,200 You definitely want to get your tickets, and you can take 832 00:48:53,200 --> 00:48:56,300 advantage of the promo, code down below to get 10% off your 833 00:48:56,300 --> 00:49:00,500 tickets to Pacific Bitcoin. All right, guys. 834 00:49:00,500 --> 00:49:05,100 Well, as I told you at the beginning of this show we get a 835 00:49:05,108 --> 00:49:09,700 lot of shit for our sponsors and what we do and Shout out the 836 00:49:09,700 --> 00:49:11,600 swan. This is the swan segment. 837 00:49:11,600 --> 00:49:15,700 So this is a tweet that we were going to comment at the 838 00:49:15,700 --> 00:49:18,500 beginning of the week but we have so much good signal that we 839 00:49:18,500 --> 00:49:21,700 just didn't get to it and I figured that it would be better 840 00:49:21,700 --> 00:49:23,500 than for us to cover in the culture section. 841 00:49:23,500 --> 00:49:26,800 So I got this tweet. I'm going to read it. 842 00:49:26,800 --> 00:49:29,900 And then I got a couple tweet threads, that I think will make 843 00:49:29,900 --> 00:49:32,300 my point for me, and then we can talk about this. 844 00:49:32,300 --> 00:49:37,200 So we got Dennis Parker. He is quoting our, our clip that 845 00:49:37,200 --> 00:49:39,700 we did of US Government shuts, down deeper actually, this is a 846 00:49:39,708 --> 00:49:43,400 whole video and then we got a response by basil--oh Nico 847 00:49:43,400 --> 00:49:46,600 simply Bitcoin TV. Great podcast, enjoying it, it's 848 00:49:46,600 --> 00:49:49,100 a bit odd by promoting Swan. Basically, you guys are 849 00:49:49,100 --> 00:49:52,400 suggesting to buy kyc coins, but at the same time, you want 850 00:49:52,400 --> 00:49:56,400 privacy, anonymity and fun. Ability using Bitcoin in terms 851 00:49:56,400 --> 00:50:01,500 of fungibility kyc is the enemy a bit controversial in general. 852 00:50:01,700 --> 00:50:05,600 And while yes I can see what people are saying. 853 00:50:05,900 --> 00:50:09,200 But if you guys ever heard me in the space and I'll speak for 854 00:50:09,200 --> 00:50:12,300 myself and he Co you can add on your two sets afterwards. 855 00:50:12,600 --> 00:50:16,400 I tell people very straight up. Look, buy Bitcoin, however you 856 00:50:16,400 --> 00:50:18,400 want. I am not here to tell you guys 857 00:50:18,400 --> 00:50:21,000 what to do with your money and with your decisions. 858 00:50:21,100 --> 00:50:26,000 But if you are going to use an exchange, We love Swan. 859 00:50:26,000 --> 00:50:28,600 They are friends, they are bitcoiners, there are Bitcoin 860 00:50:28,600 --> 00:50:32,100 only company. And yes, I know, we can get into 861 00:50:32,100 --> 00:50:37,500 the weeds and the Nuance later, but I fundamentally believe that 862 00:50:37,500 --> 00:50:41,600 you just need to buy Bitcoin. Whatever is is, you know the 863 00:50:41,600 --> 00:50:45,200 most accommodating to your life. I can't tell you what's the best 864 00:50:45,200 --> 00:50:48,400 way to buy your Bitcoin? But I am definitely a fan of non 865 00:50:48,400 --> 00:50:51,000 kyc Bitcoin. If you can do that with your 866 00:50:51,000 --> 00:50:54,700 money, then by all means, by non kyc. 867 00:50:55,200 --> 00:50:59,500 But furthermore, in my opinion and this idea was sparked 868 00:50:59,500 --> 00:51:04,000 yesterday and I'm glad that I had someone with a lot more 869 00:51:04,000 --> 00:51:08,400 experience in in things than myself yesterday. 870 00:51:08,700 --> 00:51:11,900 And I'm referencing the interview that Nico did with 871 00:51:11,900 --> 00:51:14,600 Lawrence. And Stephen Lawrence made a 872 00:51:14,608 --> 00:51:17,800 point yesterday and I'm glad that he made it because I've 873 00:51:17,800 --> 00:51:20,500 been thinking this and I just thought, like, oh, I'm just 874 00:51:20,500 --> 00:51:24,100 naive Opti, you know, I'm always thinking for the best and I'm 875 00:51:24,100 --> 00:51:26,900 hopeful for the future, and he made a point. 876 00:51:26,900 --> 00:51:29,400 And I've been, I've been going back and forth in this, and I 877 00:51:29,400 --> 00:51:32,300 kind of just felt like, oh, this is just a dumb take by Opti, but 878 00:51:32,300 --> 00:51:35,600 he said, what I've been thinking for a while is that the Legacy 879 00:51:35,600 --> 00:51:40,500 system as is doesn't even have the resources to, to track and 880 00:51:40,500 --> 00:51:46,000 bag everyone in the system that control, let alone one that is 881 00:51:46,000 --> 00:51:48,700 completely outside of their provision in their control, 882 00:51:48,700 --> 00:51:52,000 which is Bitcoin. And furthermore, even if I 883 00:51:52,000 --> 00:51:56,100 double down on that, which we all know, That the IRS just 884 00:51:56,100 --> 00:52:00,700 bought 80s are just hired 87,000 agents to essentially track and 885 00:52:00,700 --> 00:52:03,100 bag you and make sure that you're paying your taxes. 886 00:52:04,400 --> 00:52:11,000 In my opinion, the whole idea of self custody makes this all in a 887 00:52:11,000 --> 00:52:14,500 relevant Point. Once we have everyone on 888 00:52:14,500 --> 00:52:16,900 bitcoin, Iran, lay or twos or whatever. 889 00:52:16,900 --> 00:52:20,300 What have you in the future? I don't think that this even 890 00:52:20,300 --> 00:52:22,500 will matter. This is just part of the 891 00:52:22,500 --> 00:52:24,400 transition as we always say, yes. 892 00:52:24,700 --> 00:52:29,300 Bitcoin is inevitable. Bitcoin will win but The 893 00:52:29,300 --> 00:52:32,800 transition is the part that we are worried about and while you 894 00:52:32,800 --> 00:52:37,900 may think that I'm not being consistent in my messaging guys 895 00:52:37,900 --> 00:52:40,900 just get Bitcoin as much as you can. 896 00:52:41,100 --> 00:52:44,800 However you can and then spread that signal to everyone you 897 00:52:44,800 --> 00:52:46,900 know, so that they can do the same thing. 898 00:52:47,500 --> 00:52:52,000 And of course you need to take this Bitcoin into self custody 899 00:52:52,000 --> 00:52:54,500 because self custody is the revolution. 900 00:52:55,200 --> 00:52:59,100 Once you have the Bitcoin in your private Keys as far as I'm 901 00:52:59,100 --> 00:53:01,600 concerned. It really doesn't matter what is 902 00:53:01,600 --> 00:53:05,100 going on in the state tracking of it. 903 00:53:05,100 --> 00:53:09,500 It's like guys if you are a bit corner I am almost positive. 904 00:53:09,500 --> 00:53:12,800 You are on some list somewhere for the your radical thoughts. 905 00:53:12,800 --> 00:53:15,500 Like I am not concerned about being on a list. 906 00:53:15,500 --> 00:53:18,800 You guys see my face. Now like I'm probably been on a 907 00:53:18,800 --> 00:53:22,200 list since I was 13 years old, it doesn't concern me. 908 00:53:22,400 --> 00:53:26,100 Like, I've been on rabbit holes Forever on the wrong websites. 909 00:53:26,100 --> 00:53:29,100 I am a proud wrong thinker. Her. 910 00:53:29,200 --> 00:53:32,400 So I know the concern, tisk tisk. 911 00:53:32,400 --> 00:53:33,000 Yeah. Exactly. 912 00:53:33,000 --> 00:53:36,400 I know that in this urn of it's a lot better to buy your Bitcoin 913 00:53:36,400 --> 00:53:39,000 on kyc so that you aren't on these lists. 914 00:53:39,000 --> 00:53:43,700 Yes, I agree with this. But furthermore, not everyone is 915 00:53:43,700 --> 00:53:50,100 as Savage and as you know, as much of a Bitcoin or as you 916 00:53:50,100 --> 00:53:53,300 enter, I know, I know this camera, I'm sorry Nica, my 917 00:53:53,300 --> 00:53:58,800 camera isn't on on fleek today, but anyways, I am full. 918 00:53:59,000 --> 00:54:03,400 Convinced and and yesterday, Lawrence kind of echoed. 919 00:54:03,400 --> 00:54:06,700 What I what I was saying, and I'm glad he did, because he's 920 00:54:06,700 --> 00:54:08,900 way older than me. He has a lot more experience in 921 00:54:08,900 --> 00:54:12,500 this and furthermore he he seemed to be a proud truther 922 00:54:13,100 --> 00:54:15,600 which I am shouts out the producer Jacob. 923 00:54:15,600 --> 00:54:18,500 I will get a tinfoil hat in here for you guys because I think 924 00:54:18,500 --> 00:54:21,100 that's hilarious. But guys, I fundamentally 925 00:54:21,100 --> 00:54:25,300 believe that it is certain a certain Tipping Point all this 926 00:54:25,300 --> 00:54:28,600 is moot because they can't control the system that we have 927 00:54:28,600 --> 00:54:30,000 now. Now, they do not have the 928 00:54:30,000 --> 00:54:34,600 resources to, to come to everyone's house and and bring 929 00:54:34,600 --> 00:54:38,100 us all to jail. It's just physically and 930 00:54:38,100 --> 00:54:42,000 financially impossible. So, yes, if you can get your 931 00:54:42,000 --> 00:54:46,700 Bitcoin on kyc, I encourage it. But if you're like most people 932 00:54:46,700 --> 00:54:50,700 and you're trading your security for convenient guys, we love 933 00:54:50,700 --> 00:54:52,600 Swan. We think they're, they're cool 934 00:54:52,600 --> 00:54:54,200 people. They're awesome chefs out to 935 00:54:54,200 --> 00:54:55,700 Cory. He's been slaying people on 936 00:54:55,700 --> 00:55:00,200 Twitter but furthermore, I saw this strange Yesterday, and I 937 00:55:00,200 --> 00:55:04,200 thought it fit in perfectly with what we are talking about and 938 00:55:04,200 --> 00:55:07,500 this is by I only Apple Berg and he goes most people hot okay? 939 00:55:07,500 --> 00:55:10,200 Y c coins, clearly a possible future attack. 940 00:55:10,200 --> 00:55:12,500 Vector, for the state, 100% agree. 941 00:55:12,700 --> 00:55:16,700 But this is where we are guys. I'm not in some fantasy land of, 942 00:55:16,700 --> 00:55:21,900 you know, theoretical as I meet people, where they are and a lot 943 00:55:21,900 --> 00:55:26,400 of people initially down their Journey aren't as Savage aren't 944 00:55:26,400 --> 00:55:29,200 as orange pill, darn aware of all these concerns And while 945 00:55:29,200 --> 00:55:33,200 yes, we'd love to get them down to two, you know, using Azteca 946 00:55:33,200 --> 00:55:37,900 or ATMs or whatever. We like Swan, they're our 947 00:55:37,900 --> 00:55:40,800 friends, and we think they're doing a great job. 948 00:55:40,800 --> 00:55:42,700 They are on the mission of spreading the sound money 949 00:55:42,700 --> 00:55:45,400 gospel, but how do we get out of this pickle? 950 00:55:46,100 --> 00:55:49,000 And I, of course, I'm going to show this message because he 951 00:55:49,000 --> 00:55:51,900 sums it up in a tweet. And this is by a tell. 952 00:55:51,900 --> 00:55:54,900 I'm not gonna goes how will the state funds its attack if their 953 00:55:54,900 --> 00:55:58,300 Fiat has become completely worthless who will work for 954 00:55:58,300 --> 00:56:02,100 them, guys? You need to understand that the 955 00:56:02,100 --> 00:56:06,400 state is paid with fake, funny money paper, iou's And at a 956 00:56:06,408 --> 00:56:10,800 certain extent, the person, the individual, the guy that just 957 00:56:10,800 --> 00:56:16,000 needs to work a job to get by will not take Fiat funny money 958 00:56:16,000 --> 00:56:19,000 for these services and this whole house of cards will 959 00:56:19,008 --> 00:56:21,000 crumble. When will this happen? 960 00:56:21,100 --> 00:56:23,600 I have no clue. But I know that this is going to 961 00:56:23,608 --> 00:56:26,100 happen. This is inevitable and like look 962 00:56:26,100 --> 00:56:28,900 you guys can call this a fail on my part. 963 00:56:29,000 --> 00:56:30,800 What have you? I'm okay with that. 964 00:56:30,800 --> 00:56:34,900 But I've been saying forever. We are Sapphire Sapphire, excuse 965 00:56:34,900 --> 00:56:36,500 me, sacrificial lamb. Alms. 966 00:56:36,600 --> 00:56:39,400 We are the Pioneers, we are the ones taking on the risk. 967 00:56:39,500 --> 00:56:42,600 And I fundamentally believe that in the future Humanity will look 968 00:56:42,600 --> 00:56:45,700 back at us and be like those crazy motherfuckers. 969 00:56:45,900 --> 00:56:49,800 I am so thankful for the risks that they took on because we are 970 00:56:49,800 --> 00:56:52,400 just trying to get Bitcoin in the hands of anyone. 971 00:56:52,400 --> 00:56:56,800 Any way possible because we understand that the Fiat system 972 00:56:56,800 --> 00:56:59,100 is robbing you. It is stealing your life force 973 00:56:59,100 --> 00:57:01,200 and has been doing it for hundreds of years and will 974 00:57:01,200 --> 00:57:03,600 continue to do this unless you take back your money. 975 00:57:03,800 --> 00:57:06,000 The self the revolution is self custody. 976 00:57:06,200 --> 00:57:09,100 But furthermore, I really like this comment by Wicked smart 977 00:57:09,100 --> 00:57:11,300 Bitcoin. And he goes, how are we going to 978 00:57:11,300 --> 00:57:14,100 get out of this pickle? And his response is circular 979 00:57:14,100 --> 00:57:17,600 economy's mixing by default, the use of lightning and fed immense 980 00:57:17,600 --> 00:57:19,900 to office. Kate, transactions, even further 981 00:57:20,100 --> 00:57:22,300 surveillance will get more and more difficult, option 982 00:57:22,300 --> 00:57:27,100 continues, increasing and more privacy focused, tools are built 983 00:57:27,100 --> 00:57:29,300 out. And I agree with this guy's. 984 00:57:29,500 --> 00:57:32,300 As these privacy, tools get built out. 985 00:57:32,700 --> 00:57:34,900 I think this is going to be a non concern. 986 00:57:34,900 --> 00:57:37,500 I always say it all the time. Time sometimes we get really 987 00:57:37,500 --> 00:57:40,400 focused on the trees and we need to zoom out for the forest and 988 00:57:40,400 --> 00:57:43,800 while, yes, I understand that the state hates you and they are 989 00:57:43,800 --> 00:57:48,300 the real enemy. And at times you know my cold 990 00:57:48,300 --> 00:57:53,100 storage may not be fully set up for a nation state level attack. 991 00:57:53,100 --> 00:57:59,000 But what is one of the protocols of privacy hide in a big crowd. 992 00:57:59,000 --> 00:58:02,000 So we are here to spread the sound money gospel to as many 993 00:58:02,000 --> 00:58:05,200 people possible so that we have an even bigger crowd of 994 00:58:05,200 --> 00:58:09,200 bitcoiners out. And even, I know Nico is gonna 995 00:58:09,200 --> 00:58:12,500 gonna, I know Nico is do the caveat of don't break the laws, 996 00:58:12,500 --> 00:58:16,300 but I got to put in some toxic Bitcoin takes in here and we got 997 00:58:16,300 --> 00:58:18,600 Giacomo in here and he goes how you going to get out of this 998 00:58:18,600 --> 00:58:21,600 pickle and Giacomo, goes, mix and lie. 999 00:58:21,800 --> 00:58:26,900 Agreed and then GG goes mix and shut the fuck up and he does 1000 00:58:27,100 --> 00:58:30,800 this post of, I forget what it's called is like shut the fuck up 1001 00:58:30,800 --> 00:58:34,900 Friday and it's these lawyers talking about the marijuana and 1002 00:58:34,900 --> 00:58:37,200 if you should get caught in the Marijuana industry. 1003 00:58:37,200 --> 00:58:39,500 I put the link in the description. 1004 00:58:39,500 --> 00:58:43,000 So if you haven't seen this video, I highly recommend you 1005 00:58:43,000 --> 00:58:46,100 watch this video and you will get where we're coming from 1006 00:58:46,600 --> 00:58:50,200 anyways, to add to this. How are we going to get out of 1007 00:58:50,200 --> 00:58:52,700 this? Pickle is creating your own 1008 00:58:52,700 --> 00:58:56,000 circular economies and Estefan. Lovera put in a tweet normalized 1009 00:58:56,000 --> 00:58:58,100 paying back your family and friends using Bitcoin are 1010 00:58:58,100 --> 00:59:00,100 lightning. That way they can pay a fee up 1011 00:59:00,100 --> 00:59:03,000 but you pay them with SATs into easy while it's like Moon 1012 00:59:03,000 --> 00:59:07,500 Phoenix or Breeze and this is also what I like To Advocate is 1013 00:59:07,500 --> 00:59:11,600 guys. Use Bitcoin peer-to-peer spread 1014 00:59:11,600 --> 00:59:14,100 Bitcoin to your friends and families any way possible. 1015 00:59:14,100 --> 00:59:18,100 I know you guys don't like to spend your Bitcoin but you guys 1016 00:59:18,100 --> 00:59:21,600 need to make sure that people are getting Bitcoin that want to 1017 00:59:21,600 --> 00:59:23,500 use Bitcoin that want to save Bitcoin. 1018 00:59:23,500 --> 00:59:26,000 And I say it all the time. The best way to orange pill, 1019 00:59:26,000 --> 00:59:29,800 people is for them to use it, to hold it to understand that there 1020 00:59:29,800 --> 00:59:34,100 is no middleman that that they are free that they have personal 1021 00:59:34,100 --> 00:59:37,400 responsibility in their money. And again guys you can call me 1022 00:59:37,400 --> 00:59:41,000 naive but I also have other people. 1023 00:59:41,000 --> 00:59:44,700 Echoing these ideas that look at Dave should duel. 1024 00:59:44,700 --> 00:59:48,200 Oh excuse me he goes they don't have the manpower to go door 1025 00:59:48,200 --> 00:59:51,000 knocking. It's a non-issue, I completely 1026 00:59:51,000 --> 00:59:54,300 agree and furthermore Magoo ha don't we go self? 1027 00:59:54,300 --> 00:59:57,300 Custody is so much more value than you could ever imagine. 1028 00:59:57,500 --> 01:00:01,300 And this is the message that we tell you guys self custody is 1029 01:00:01,300 --> 01:00:04,400 the Revolution and my boy, based money profit. 1030 01:00:04,400 --> 01:00:07,600 The money tank quoted. Instead the revolution is self 1031 01:00:07,600 --> 01:00:12,100 custody guys I fundamentally believe that at a certain point 1032 01:00:12,100 --> 01:00:15,500 of certain Tipping Point, this all is going to be moot. 1033 01:00:15,500 --> 01:00:20,000 Anyways, buy Bitcoin, however you want spread the sound money 1034 01:00:20,000 --> 01:00:25,300 gospel, any way possible, do your best to give people the the 1035 01:00:25,300 --> 01:00:29,000 best upfront advice, but you got to meet people where they are. 1036 01:00:30,500 --> 01:00:34,800 And a lot of people aren't ready to take these steps up front and 1037 01:00:34,800 --> 01:00:38,000 that's okay we just need Bitcoin in the hands of people. 1038 01:00:38,000 --> 01:00:42,000 We need people taking self custody and guys hit me in the 1039 01:00:42,008 --> 01:00:44,900 comment, hit me on Twitter. If you think I'm being naive if 1040 01:00:44,900 --> 01:00:47,900 you think this should be mopped he's fail portion. 1041 01:00:48,800 --> 01:00:52,300 But anyways I see that we already running an hour in so 1042 01:00:52,300 --> 01:00:54,200 Nico. What's your comments? 1043 01:00:54,200 --> 01:00:56,900 And then we'll get into the meme scores, dude. 1044 01:00:56,900 --> 01:00:59,800 I don't know what it was. It was timing or something, but 1045 01:00:59,800 --> 01:01:01,700 I'm Rico. The power goes out. 1046 01:01:01,700 --> 01:01:04,000 I literally the power dropped out on me. 1047 01:01:04,400 --> 01:01:08,200 And luckily I came back and Opti with still, you know, still 1048 01:01:08,200 --> 01:01:11,800 doing his bit so and it was like a second after opt. 1049 01:01:11,800 --> 01:01:14,300 He's camera failed once again. Yeah. 1050 01:01:14,400 --> 01:01:17,900 So the fun of doing this live anyways. 1051 01:01:18,400 --> 01:01:21,300 Are you coming to us via ham radio now or yeah? 1052 01:01:21,300 --> 01:01:24,000 Right. Do you imagine the the signal? 1053 01:01:24,000 --> 01:01:27,600 Okay, so yeah, so let's talk a little bit about this is a great 1054 01:01:27,600 --> 01:01:34,400 topic by the way Opti, right? Look the reality is that the kyc 1055 01:01:34,400 --> 01:01:36,400 exchanges have the most amount of liquidity. 1056 01:01:36,600 --> 01:01:38,800 They also have the best prices, the price. 1057 01:01:38,800 --> 01:01:42,000 You pay is that you yourself, and you probably put yourself on 1058 01:01:42,000 --> 01:01:44,700 a list that they're definitely making now that they hired 1059 01:01:44,700 --> 01:01:50,100 87,000 agents. Now, what about kyc free? 1060 01:01:50,100 --> 01:01:51,600 That's how most of the world works. 1061 01:01:51,600 --> 01:01:54,400 Most of the world does that because they don't have the 1062 01:01:54,400 --> 01:01:57,300 rails that we have in the western world. 1063 01:01:58,300 --> 01:02:04,600 So bisque is a good solution, localbitcoins was kyc, free at 1064 01:02:04,600 --> 01:02:07,100 one point, but of course they were big enough they eventually 1065 01:02:07,100 --> 01:02:09,600 got captured. So again unless it's fully 1066 01:02:09,600 --> 01:02:11,500 decentralized, it will get captured. 1067 01:02:11,500 --> 01:02:14,200 Its inevitability. The people that use the 1068 01:02:14,200 --> 01:02:18,000 loopholes to circumvent it. If it's a company, it will get 1069 01:02:18,000 --> 01:02:20,900 captured, there will be pressure, that US government is 1070 01:02:20,900 --> 01:02:24,000 Relentless Swiss banking in the 80s. 1071 01:02:24,100 --> 01:02:27,100 It was so secure that. All they would just give you a 1072 01:02:27,108 --> 01:02:28,100 number. There is No. 1073 01:02:28,100 --> 01:02:30,600 Name associated to that account, right? 1074 01:02:30,600 --> 01:02:35,100 It was a private number over time, the regulatory Onslaught 1075 01:02:35,100 --> 01:02:38,100 that eventually broke and now Switzerland. 1076 01:02:38,400 --> 01:02:41,400 It's getting to the point that they don't even want American 1077 01:02:41,400 --> 01:02:44,200 citizens, opening bank accounts there because they don't even 1078 01:02:44,200 --> 01:02:46,100 feel like dealing with the regulations. 1079 01:02:46,100 --> 01:02:49,800 It's got in like that. So yeah, don't underestimate the 1080 01:02:49,800 --> 01:02:53,800 government. They will get it eventually, but 1081 01:02:53,800 --> 01:02:56,200 kyc, free Solutions are still an honor. 1082 01:02:56,600 --> 01:02:58,700 If you're just doing peer to peer, Here, if you're doing 1083 01:02:58,700 --> 01:03:00,700 peer-to-peer, you know, someone that has Bitcoin you want to 1084 01:03:00,708 --> 01:03:03,300 give them Fiat for. I don't know what reason, right? 1085 01:03:03,400 --> 01:03:06,600 You could do it that way. Now, of course follow the laws 1086 01:03:06,600 --> 01:03:10,000 and regulations color within the lines, but you get what I'm 1087 01:03:10,000 --> 01:03:16,100 saying? Just really feels like a if you 1088 01:03:16,100 --> 01:03:18,200 can't beat them. Join them situation. 1089 01:03:18,700 --> 01:03:20,000 Another acid. Yeah. 1090 01:03:20,000 --> 01:03:23,500 Sorry another another aspect of this, the internet's going crazy 1091 01:03:23,500 --> 01:03:25,900 here. Another aspect of this, right? 1092 01:03:25,900 --> 01:03:28,900 Is, you could always mine Bitcoin, you mine Bitcoin. 1093 01:03:28,900 --> 01:03:30,700 Or they're going to try to do this, but they're not going to 1094 01:03:30,700 --> 01:03:37,700 be able to KY C. KY C freesat now is kyc freesat, 1095 01:03:37,700 --> 01:03:40,600 important. Absolutely, I think it's vital 1096 01:03:40,600 --> 01:03:43,700 that you have a kyc, free sat stack. 1097 01:03:44,200 --> 01:03:48,100 No one knows about that is completely separated from your 1098 01:03:48,100 --> 01:03:52,300 KY, C. KY C SATs, right? 1099 01:03:53,000 --> 01:03:58,700 But you have to understand. Just because they have that 1100 01:03:58,700 --> 01:04:02,800 Bitcoin doesn't mean they can get to that Bitcoin and that is 1101 01:04:02,800 --> 01:04:08,100 why we always emphasize self. Custody is how you win fine. 1102 01:04:08,100 --> 01:04:12,900 Let's say the state knows that you bought just throwing it out 1103 01:04:12,900 --> 01:04:16,900 there one Bitcoin, right? They know you have it. 1104 01:04:17,800 --> 01:04:22,100 What if you sent that to it to a multisig and which the C's are 1105 01:04:22,100 --> 01:04:25,400 geographically, separated multiple jurisdictions, they 1106 01:04:25,400 --> 01:04:30,500 might know you have it. How they going to do that? 1107 01:04:30,500 --> 01:04:33,100 How they're going to get to that Bitcoin, it's going to be very 1108 01:04:33,100 --> 01:04:35,600 hard for them to do. So they might be able to put 1109 01:04:35,600 --> 01:04:38,700 someone in a box, which is what the book, The sovereign 1110 01:04:38,700 --> 01:04:42,400 individual predicts that as the welfare states start it. 1111 01:04:42,400 --> 01:04:45,100 They start having problems collecting more. 1112 01:04:48,100 --> 01:04:54,600 System lose me again, I might come in and out your back, your 1113 01:04:54,600 --> 01:04:57,100 best. So like the sovereign individual 1114 01:04:57,100 --> 01:05:00,100 predicts, right? Is that you might see abductions 1115 01:05:00,100 --> 01:05:03,500 and people being held to Ransom. So they pay, you know, the 1116 01:05:03,500 --> 01:05:06,400 government, they're there their tax revenue right. 1117 01:05:06,500 --> 01:05:09,300 But at the end of the day, what you what is really important 1118 01:05:09,300 --> 01:05:11,100 privacy is important without a doubt. 1119 01:05:11,100 --> 01:05:14,700 What is really important is taking your Bitcoin into self 1120 01:05:14,700 --> 01:05:19,300 custody and then curing that That that Bitcoin properly, 1121 01:05:19,400 --> 01:05:24,200 through proper seed management. I really recommend multisig, I 1122 01:05:24,200 --> 01:05:28,600 really recommend geographically separating your seeds, ideally 1123 01:05:28,600 --> 01:05:32,700 in different countries, because if they do that, then it becomes 1124 01:05:32,700 --> 01:05:36,500 very difficult for them to get your Bitcoin. 1125 01:05:36,600 --> 01:05:39,700 And at the end of the day, what Bitcoin does is it shifts? 1126 01:05:39,700 --> 01:05:43,500 The balance of power from the government, from the state, back 1127 01:05:43,500 --> 01:05:46,100 to the individual. It gives the individual the 1128 01:05:46,100 --> 01:05:48,600 power to go. Go where they're treated best 1129 01:05:48,600 --> 01:05:51,300 but only if you have that self custody only if you have that 1130 01:05:51,300 --> 01:05:54,900 Bitcoin under self custody, so yes, I agree. 1131 01:05:54,900 --> 01:05:59,700 I think the whole kyc system is incompatible with Bitcoin. 1132 01:06:00,000 --> 01:06:03,600 I don't think, I think that the Clash is going to be so hard. 1133 01:06:03,700 --> 01:06:07,100 I think that it's inevitable that they say, oh, you can only 1134 01:06:07,100 --> 01:06:11,900 run and ofac compliant us sanctioned node because if you 1135 01:06:11,900 --> 01:06:15,500 don't do that, you're against us sanctions, I think that this is 1136 01:06:15,500 --> 01:06:21,000 where that's going. but if you have Bitcoin in self custody, 1137 01:06:22,300 --> 01:06:25,500 You move the balance of power to your favor and there's a mean 1138 01:06:25,500 --> 01:06:29,400 that we always talk about which is I lost it in a boating 1139 01:06:29,400 --> 01:06:33,300 accident just because they see that your Bitcoin is in a 1140 01:06:33,300 --> 01:06:36,400 certain address. What if you send it to a coin 1141 01:06:36,400 --> 01:06:39,700 join what if you send it to another address and they're 1142 01:06:39,700 --> 01:06:41,700 like, yo give me that. I'm like I don't have the keys 1143 01:06:41,700 --> 01:06:44,100 to that. The point is that they might be 1144 01:06:44,100 --> 01:06:48,400 able to do it to a handful of people, but if you have millions 1145 01:06:48,400 --> 01:06:54,000 upon millions of people holding their Bitcoin itself, D, we win 1146 01:06:54,000 --> 01:06:56,400 this, no matter what they try to do. 1147 01:06:56,400 --> 01:07:01,000 Because their laws of the old system are only enforceable in 1148 01:07:01,000 --> 01:07:05,600 the old system in Bitcoin, they start to become unenforceable 1149 01:07:05,600 --> 01:07:07,900 and I'm going to give an example and then we'll pass it on to 1150 01:07:07,900 --> 01:07:09,500 Alex then we'll get to the meme review. 1151 01:07:09,700 --> 01:07:14,900 Look, do you know the existing money transmitting laws right? 1152 01:07:14,900 --> 01:07:18,000 When you go to a foreign airport, right? 1153 01:07:18,000 --> 01:07:20,800 You pass through security, they tell you the first thing they 1154 01:07:20,800 --> 01:07:23,000 tell you, you have 10,000 dollars in cash. 1155 01:07:23,700 --> 01:07:25,800 Do you have the equivalent of ten thousand dollars in a gold 1156 01:07:25,800 --> 01:07:28,700 bar and diamonds? Do you have it on you, right? 1157 01:07:28,700 --> 01:07:30,800 That's the one of the first things that they ask you. 1158 01:07:32,500 --> 01:07:36,500 You could memorize 12 words in your head how they going to get 1159 01:07:36,500 --> 01:07:41,600 that effectively? How or let's say fine, they take 1160 01:07:41,600 --> 01:07:44,100 your Hardware wallet. Okay? 1161 01:07:46,700 --> 01:07:47,700 What are they going to do with it? 1162 01:07:47,700 --> 01:07:49,500 If it's a multisig. What are they going to do with 1163 01:07:49,500 --> 01:07:51,000 it? It's a useless piece of 1164 01:07:51,000 --> 01:07:54,500 hardware. And then not to mention all the 1165 01:07:54,500 --> 01:07:56,700 muscles again, thought experiment, actually, all the 1166 01:07:56,700 --> 01:08:00,700 money that they have to spend trying to enforce these laws 1167 01:08:00,700 --> 01:08:03,700 that aren't effective at stopping the thing that they're 1168 01:08:03,700 --> 01:08:07,600 trying to stop. That's where this is going, 1169 01:08:07,800 --> 01:08:09,800 right? So yes I get it. 1170 01:08:09,900 --> 01:08:13,100 Kyc sucks. I understand your point. 1171 01:08:13,100 --> 01:08:16,899 It's incompatible with Bitcoin. It's going to be such a hardcore 1172 01:08:16,899 --> 01:08:20,100 Clash. I'm all for it, but do you want 1173 01:08:20,100 --> 01:08:23,899 to Stack? Try stacking more than five 1174 01:08:23,899 --> 01:08:29,100 thousand dollars USD your the equivalent of 5000 USD on 1175 01:08:29,100 --> 01:08:31,399 bisque. Try doing that day after day, 1176 01:08:31,399 --> 01:08:35,300 you're going to pay a premium five to nine percent and pay 1177 01:08:35,300 --> 01:08:38,800 five to nine percent premium. And then not to mention is the 1178 01:08:38,800 --> 01:08:42,600 liquidity there and not to mention, you actually have to do 1179 01:08:42,600 --> 01:08:45,200 a physical transaction because the way that business works 1180 01:08:45,200 --> 01:08:48,899 right now is you're depositing money into a bank account and 1181 01:08:48,899 --> 01:08:51,700 how long until that loop hole gets closed with the, with the 1182 01:08:51,899 --> 01:08:56,899 You 85,000 87,000 IRS agents. The point that I'm trying to 1183 01:08:56,899 --> 01:08:59,600 make right? Is that the best protection that 1184 01:08:59,600 --> 01:09:02,300 you have is taking self custody of your Bitcoin? 1185 01:09:02,300 --> 01:09:06,899 That is number one privacy, very important not trying to take 1186 01:09:06,899 --> 01:09:10,500 away from it, run your own no time for that earn Bitcoin 1187 01:09:10,500 --> 01:09:13,899 earning Bitcoin is the best thing that you could do because 1188 01:09:13,899 --> 01:09:16,800 that throws them off even more. It's like, oh, that Bitcoin was 1189 01:09:16,800 --> 01:09:18,300 supposed to be meant for that person. 1190 01:09:18,300 --> 01:09:22,600 But now it's there. It's like, this is Unenforceable 1191 01:09:22,600 --> 01:09:26,899 as what I'm trying to say. So yes kyc am L. 1192 01:09:27,000 --> 01:09:30,200 It's an enemy of Bitcoin that Clash is going to happen or 1193 01:09:30,200 --> 01:09:32,800 pushing for it. The right people are on it, very 1194 01:09:32,800 --> 01:09:34,399 smart. People are doing the research. 1195 01:09:34,399 --> 01:09:40,399 We've had entire episodes dedicated to revealing the scam 1196 01:09:40,500 --> 01:09:44,500 that is kyc and am L. We got a kyc and am L expert on 1197 01:09:44,500 --> 01:09:48,100 the episode to debunk how useless that system is. 1198 01:09:49,800 --> 01:09:54,500 But you have to fight the battle with the tools at hand and this 1199 01:09:54,500 --> 01:09:56,400 is where we are this moment in time. 1200 01:09:56,700 --> 01:09:58,800 And of course I know a lot of people are going to disagree 1201 01:09:58,800 --> 01:10:01,600 with me but I think I'm entitled to my own opinion. 1202 01:10:01,600 --> 01:10:02,600 Anyways. Alex. 1203 01:10:02,600 --> 01:10:05,000 What are your thoughts brother? You sure. 1204 01:10:05,000 --> 01:10:08,400 Well, I've wrapped up a few thoughts while I'm listening to 1205 01:10:08,400 --> 01:10:13,000 you this is why on Twitter, I say pretty often like a broken 1206 01:10:13,000 --> 01:10:16,900 record that no matter how passionate we are about Bitcoin 1207 01:10:16,900 --> 01:10:19,200 there. There is never an opt-out to 1208 01:10:19,200 --> 01:10:25,200 Politics as defined by any more than two people in a room. 1209 01:10:25,200 --> 01:10:29,100 You've got politics, right? So, You know, that's why I'm 1210 01:10:29,100 --> 01:10:33,100 wearing my little porcupine, my little libertarian pin on my 1211 01:10:33,500 --> 01:10:36,000 pal. It's because, you know, the 1212 01:10:36,000 --> 01:10:42,200 whole point of standing up and trying to fight for liberty and 1213 01:10:42,200 --> 01:10:44,600 for something that's more authentic Liberty. 1214 01:10:45,000 --> 01:10:47,100 Right? Is to put forth, really good 1215 01:10:47,100 --> 01:10:53,100 ideas about how to manage the kind of, you know, necessary 1216 01:10:53,100 --> 01:10:58,000 evil of whatever state is left over after, after we, you know, 1217 01:10:58,200 --> 01:11:06,700 Mantle, a lot of the BS, a lot of the bureaucracy, the whole 1218 01:11:06,900 --> 01:11:10,200 rant that you were just on made me think, you know, it's a, you 1219 01:11:10,200 --> 01:11:12,300 can't beat them. Join them situation where the 1220 01:11:12,300 --> 01:11:14,500 government needs to really be thinking about. 1221 01:11:15,800 --> 01:11:19,100 Now, wait a second, what are some like they did Del Salvador 1222 01:11:19,200 --> 01:11:21,900 Central African Republic. Like what are some of the ways 1223 01:11:21,900 --> 01:11:25,500 we could actually benefit from maybe not? 1224 01:11:26,300 --> 01:11:30,400 Being idiotic and totalitarian and, you know, sacrificing our 1225 01:11:30,400 --> 01:11:33,700 core values. We just America's founding is 1226 01:11:33,700 --> 01:11:36,400 all about really, the sovereign individual. 1227 01:11:36,400 --> 01:11:41,100 Like you said, I mean, we are rediscovering Our Roots by, you 1228 01:11:41,100 --> 01:11:44,900 know, discovering Bitcoin, we're rediscovering our core values as 1229 01:11:44,900 --> 01:11:48,700 Americans really. And and realizing that there was 1230 01:11:48,700 --> 01:11:53,600 a big mistake that was made with fiat currency that a lot of our 1231 01:11:53,600 --> 01:11:56,000 Founders warned against a Jefferson warned. 1232 01:11:56,200 --> 01:11:58,400 You know? So that's where. 1233 01:11:58,400 --> 01:11:59,900 Now we can ask the question. Okay. 1234 01:11:59,900 --> 01:12:03,300 Well, what is the US dollar then? 1235 01:12:04,000 --> 01:12:08,000 Does it reflect our values? Could it again, someday reflect 1236 01:12:08,000 --> 01:12:12,400 our values? Could we Peg the US dollar Fiat 1237 01:12:12,400 --> 01:12:16,700 as it is to bitcoin? And to make to make the u.s. 1238 01:12:16,700 --> 01:12:21,500 dollars semi sound again. I know I think that's got some 1239 01:12:21,800 --> 01:12:26,900 possibility to it but ultimately, you know, There's no 1240 01:12:26,900 --> 01:12:30,600 reason for them to spin their wheels and fight this thing and 1241 01:12:30,600 --> 01:12:32,900 the thought experiment that I had when you talk about Crossing 1242 01:12:32,900 --> 01:12:35,200 Borders and I live right on the Canadian border. 1243 01:12:35,700 --> 01:12:39,700 So declaring, yeah, if you've got something of high value on 1244 01:12:39,700 --> 01:12:42,100 you and your Crossing Borders, that's definitely a thing. 1245 01:12:42,600 --> 01:12:45,600 You can just bring, you know, big suitcases of cash or 1246 01:12:45,600 --> 01:12:48,900 something across borders and have that be cool or big gold 1247 01:12:48,900 --> 01:12:52,000 bars, but let's take something very tiny. 1248 01:12:52,000 --> 01:12:55,900 Which essentially, you know, a seed phrases weightless and tell 1249 01:12:55,900 --> 01:12:59,100 me I'm going to long but, you know, let's say that there's 1250 01:12:59,100 --> 01:13:03,100 some sort of Rarity or some kind of collectible premium or value 1251 01:13:03,100 --> 01:13:07,200 onto some very, very tiny diamond or, you know, piece of 1252 01:13:07,500 --> 01:13:11,100 precious metal or something. And it's so small, like it's, 1253 01:13:11,500 --> 01:13:15,500 you know, basically weightless like a, you know, steel plate 1254 01:13:15,500 --> 01:13:16,800 with your seed phrase or whatever. 1255 01:13:16,800 --> 01:13:20,200 It's very, very small, but the value is through the roof, 1256 01:13:21,000 --> 01:13:23,200 right? And so, if you're crossing a 1257 01:13:23,200 --> 01:13:25,500 border with something, just because it's got a huge value, 1258 01:13:25,500 --> 01:13:33,800 but it's Basically weightless, you know the the the whole 1259 01:13:34,100 --> 01:13:38,000 threat that that represents is completely imaginary, right? 1260 01:13:38,000 --> 01:13:40,600 You'd have to liquidate the thing for the currency. 1261 01:13:40,600 --> 01:13:43,000 It would be the local currency if you were liquidating it. 1262 01:13:43,000 --> 01:13:46,500 Anyway, so it's a completely imaginary threat to that 1263 01:13:46,500 --> 01:13:48,700 economy. It's not like you're Crossing 1264 01:13:48,700 --> 01:13:52,000 with, I don't know, Apple, maggots and infecting their 1265 01:13:52,000 --> 01:13:54,500 local Orchards or something. You know, there's just nothing 1266 01:13:54,500 --> 01:13:56,000 there that's going to be problematic. 1267 01:13:56,000 --> 01:13:58,600 If you're a dual Citizen and you're moving into that country, 1268 01:13:58,600 --> 01:14:01,000 you liquidate it for their local Fiat. 1269 01:14:01,000 --> 01:14:05,600 This thing of high value you're going to pay tax in theory on 1270 01:14:05,600 --> 01:14:07,700 the liquidation into their local Fiat. 1271 01:14:07,700 --> 01:14:13,600 So I mean it's just obviously they want to prevent I guess 1272 01:14:13,600 --> 01:14:17,700 terrorist financing or the all this money laundering and all 1273 01:14:17,700 --> 01:14:20,900 all this stuff they want to come somehow I have on an 1274 01:14:20,900 --> 01:14:23,600 international scale. This ability to track flows of 1275 01:14:23,600 --> 01:14:29,300 assets across Borders or Something but it gets into a 1276 01:14:29,300 --> 01:14:34,800 zone of just Ridiculousness. So yeah they they can't fight at 1277 01:14:34,800 --> 01:14:38,000 all and then there's a right way to do it in a wrong way to do 1278 01:14:38,000 --> 01:14:39,000 it. Absolutely. 1279 01:14:39,000 --> 01:14:43,400 It just the existing regulations become unenforceable on, you 1280 01:14:43,400 --> 01:14:46,000 know and then just kind of add into the mix Opti. 1281 01:14:46,000 --> 01:14:48,400 Let's skip the mean review today because it's a good conversation 1282 01:14:48,400 --> 01:14:54,400 will go straight to the software release but The, the the laws of 1283 01:14:54,400 --> 01:14:58,400 old just become unenforceable under a Bitcoin standard, right? 1284 01:14:58,500 --> 01:15:01,800 The, I think that when more and more people wake up to the fact 1285 01:15:01,800 --> 01:15:03,900 that, why am I earning and dollars? 1286 01:15:05,300 --> 01:15:08,300 Doesn't make sense. Why am I, why am I turning in a 1287 01:15:08,300 --> 01:15:10,200 money that's constantly being devalue? 1288 01:15:10,900 --> 01:15:13,900 Why is that the only thing they really have on us? 1289 01:15:14,100 --> 01:15:18,200 And that's until Bitcoin starts to get into the very, very high 1290 01:15:18,200 --> 01:15:19,600 numbers. And then you'll start to see 1291 01:15:19,600 --> 01:15:24,100 less and less volatility is that they could make the case at this 1292 01:15:24,100 --> 01:15:27,600 moment in time, is that in the short term Fiat provides better 1293 01:15:27,600 --> 01:15:31,200 stability than Bitcoin and stability it. 1294 01:15:31,200 --> 01:15:34,400 When it comes to pricing things is pretty important, right? 1295 01:15:34,400 --> 01:15:37,300 Because if not Have to change the things all the time, Bitcoin 1296 01:15:37,300 --> 01:15:40,800 is pretty volatile but the thing is if you start zooming out on a 1297 01:15:40,808 --> 01:15:45,200 23 year, timescale Fiat goes down Bitcoin goes up like that, 1298 01:15:45,400 --> 01:15:48,400 right? So I mean that's really the only 1299 01:15:48,400 --> 01:15:50,200 thing they have left. That's the only thing they're 1300 01:15:50,200 --> 01:15:53,300 clinging onto and there is actually a Fed tweet. 1301 01:15:53,300 --> 01:15:57,800 That was literally talking about how Bitcoin was too volatile, 1302 01:15:57,800 --> 01:16:01,200 but if you even use their own metric and you zoom out, you 1303 01:16:01,200 --> 01:16:04,300 know, it even with their metrics, you can call bullshit 1304 01:16:04,300 --> 01:16:05,500 with their tools. Tools, right? 1305 01:16:05,500 --> 01:16:08,100 That the one where they were pricing eggs and SATs, yeah, 1306 01:16:08,100 --> 01:16:11,800 exit SATs and then, dude, and then they got absolutely 1307 01:16:11,800 --> 01:16:15,400 wrecked, right? So, but ya gotta respect that 1308 01:16:15,400 --> 01:16:17,000 they didn't turn off the replies. 1309 01:16:17,000 --> 01:16:19,500 I mean, at least they, there's a there. 1310 01:16:19,500 --> 01:16:22,900 So disconnected and like, look, let me literally let me pull it 1311 01:16:22,900 --> 01:16:25,600 up, check this out. This is priced in Bitcoin, one 1312 01:16:25,600 --> 01:16:28,800 of my favorite, I love sets, I love that, right here's eggs. 1313 01:16:28,800 --> 01:16:31,400 And this is what I was talking about, right on a year basis. 1314 01:16:31,400 --> 01:16:34,400 Yeah, maybe you're right, it's too volatile, right? 1315 01:16:34,700 --> 01:16:38,600 But I Your bases eggs are 27 percent cheaper on a five-year 1316 01:16:39,000 --> 01:16:41,500 basis. Eggs are 74 percent cheaper. 1317 01:16:41,600 --> 01:16:44,400 This is with all the inflation. This is with all the money 1318 01:16:44,400 --> 01:16:49,800 Printing and this is still with Bitcoin, 70% down and eggs are 1319 01:16:49,800 --> 01:16:52,400 still 75 percent cheaper. And that's why Bitcoin is the 1320 01:16:52,400 --> 01:16:54,600 best savings technology. The world has ever seen. 1321 01:16:54,900 --> 01:16:58,500 And the real irony of that is there are hardly any Bitcoin 1322 01:16:58,500 --> 01:17:02,600 denominated zones in the world. So by their own definition of 1323 01:17:02,600 --> 01:17:06,800 price level inflation, deflation So they cause the price of 1324 01:17:06,800 --> 01:17:09,100 Bitcoin to go down. Well, there are hardly any 1325 01:17:09,100 --> 01:17:12,100 Geographic zones that did nominate goods and services in 1326 01:17:12,108 --> 01:17:15,900 the real economy and SATs. So so they could say, oh well 1327 01:17:15,900 --> 01:17:20,900 those areas now have inflation. Which area is there are hardly 1328 01:17:20,900 --> 01:17:24,700 any right and this and even El Salvador is not really dumb and 1329 01:17:24,700 --> 01:17:26,500 it's not really sad Stu nominated. 1330 01:17:26,700 --> 01:17:29,500 El Salvador is, is a dual currency country. 1331 01:17:29,500 --> 01:17:32,700 It's mostly dollar-denominated. Still, that's why they did it. 1332 01:17:32,700 --> 01:17:35,600 They did it because it was because their dollars got 1333 01:17:35,600 --> 01:17:38,200 stronger, you know, they didn't have their own, they didn't 1334 01:17:38,200 --> 01:17:42,000 control their monetary policy. So that's exactly why they chose 1335 01:17:42,000 --> 01:17:47,000 something like Bitcoin. But anyways, Opti let's move on 1336 01:17:47,000 --> 01:17:53,900 to the South Ever news. Bitcoin software release, 1337 01:17:53,900 --> 01:17:56,100 brought to you by Cipher safe, don't be that person. 1338 01:17:56,100 --> 01:18:00,300 That stores their Bitcoin seed on paper paper is prone to water 1339 01:18:00,300 --> 01:18:04,800 damage, fire damage, dog attacks everything your seat could be 1340 01:18:04,800 --> 01:18:07,700 eaten by dogs or cats or animals. 1341 01:18:07,700 --> 01:18:10,500 If you store it on paper, you definitely want to store your 1342 01:18:10,500 --> 01:18:13,400 seed on steel and there's no better place to do it. 1343 01:18:13,500 --> 01:18:17,400 Then the cipher safe, get yourself a Cipher wheel or 1344 01:18:17,400 --> 01:18:20,400 Cipher grid today. Visit Cipher safe, dot IO. 1345 01:18:21,800 --> 01:18:25,300 All right guys. Well I'm just as disappointed as 1346 01:18:25,300 --> 01:18:28,600 you are that we didn't get to the mean review but I will add 1347 01:18:28,600 --> 01:18:33,000 extra memes tomorrow. Anyways, we got start9 Labs, 1348 01:18:33,100 --> 01:18:37,300 Embassy, OS version, zero point three point, one point one. 1349 01:18:37,500 --> 01:18:39,700 Let's see, what are some of these changes is Docker? 1350 01:18:39,700 --> 01:18:43,400 Stats fix updated back, independent, fix receipts, 1351 01:18:43,400 --> 01:18:45,100 hell's return. Correct are. 1352 01:18:45,500 --> 01:18:47,600 I'm not going to read all this because you can see it. 1353 01:18:47,800 --> 01:18:54,400 This is a big big update if you are using Nine Labs update your 1354 01:18:55,300 --> 01:18:58,100 node guys. I've heard really good things 1355 01:18:58,100 --> 01:19:00,900 about starting on Labs. I'd like to, you know, to play 1356 01:19:00,900 --> 01:19:07,000 with one anyways. Go listen to us on the Apple 1357 01:19:07,000 --> 01:19:12,000 podcast on Spotify on anchor and we are on anchor app. 1358 01:19:12,000 --> 01:19:14,400 If you are in the valley for Value economy and you think 1359 01:19:14,400 --> 01:19:17,800 we're providing you value day in and day out, stream of some set, 1360 01:19:17,800 --> 01:19:20,400 we appreciate it. Anyways, Nico. 1361 01:19:20,400 --> 01:19:23,600 We're an Extra long today so that's for all this one out. 1362 01:19:23,900 --> 01:19:27,800 Yeah the guys make sure to join no, it's not your fault joint. 1363 01:19:27,800 --> 01:19:30,700 Make sure you join our. It's just good conversation. 1364 01:19:30,700 --> 01:19:32,500 Make sure to join our telegram group. 1365 01:19:32,500 --> 01:19:34,800 The link is down below. We always put it down below. 1366 01:19:34,800 --> 01:19:38,400 Also want to give a very special shout-out to our awesome 1367 01:19:38,400 --> 01:19:41,100 sponsor. Represent LTD.com they make some 1368 01:19:41,100 --> 01:19:44,800 of the most comfortable Bitcoin merch like this, awesome hoodie. 1369 01:19:44,800 --> 01:19:47,200 Like the shirt that opt he's wearing. 1370 01:19:47,200 --> 01:19:49,600 He makes Bitcoin merch. He's making simply Bitcoin. 1371 01:19:49,600 --> 01:19:51,100 Merge definitely want to go check out. 1372 01:19:51,100 --> 01:19:53,500 Representing tv.com. And you can take advantage of 1373 01:19:53,500 --> 01:19:59,300 the promo, code down below to get 10% off, represent LTD.com. 1374 01:19:59,300 --> 01:20:01,900 I also want to give a very special shout-out to our awesome 1375 01:20:01,900 --> 01:20:04,200 guest. Alex, thank you so much for 1376 01:20:04,200 --> 01:20:06,000 joining us today. You had some, thank you for. 1377 01:20:06,800 --> 01:20:08,800 This is why I said in the very beginning. 1378 01:20:08,800 --> 01:20:12,900 I love inviting plebs that are unknown because they are always 1379 01:20:12,900 --> 01:20:15,600 going to say different things that you've never heard before, 1380 01:20:15,700 --> 01:20:16,900 right? And that's what this is all 1381 01:20:16,900 --> 01:20:20,900 about is Revolution, everybody. So Alex, where are my newest? 1382 01:20:21,000 --> 01:20:23,600 Chunky Avenues. Where can people find you? 1383 01:20:24,800 --> 01:20:28,700 So a, take a Kaufman. It's my middle initial is K on 1384 01:20:28,700 --> 01:20:31,700 Twitter. I basically during the pandemic 1385 01:20:31,700 --> 01:20:35,500 took my account and followed a fixed number of accounts, 1386 01:20:35,500 --> 01:20:38,500 although I rotate them. But if I'm following you, I had 1387 01:20:38,500 --> 01:20:43,500 some putting you on rotation, basically 4444 follows and then 1388 01:20:43,500 --> 01:20:47,500 I basically retweet kind of obsessively just a lot of 1389 01:20:47,500 --> 01:20:53,900 different content and and pin. Things that are related to kind 1390 01:20:53,900 --> 01:20:57,700 of my belief that you have to nominate and SATs watch certain 1391 01:20:57,700 --> 01:21:00,400 markets to nominate and SATs like the silver market. 1392 01:21:00,800 --> 01:21:05,100 I think is interesting signal so I pinned that picture from the 1393 01:21:05,100 --> 01:21:09,600 XE currency app a lot of times as my pin tweet. 1394 01:21:10,000 --> 01:21:14,800 I'm also working with satoshi's Journal right now and a few 1395 01:21:14,800 --> 01:21:19,800 other countries and companies in a sales and marketing capacity. 1396 01:21:20,700 --> 01:21:24,700 My My wife's employer, Martian, craft is a great iPhone app 1397 01:21:24,700 --> 01:21:27,100 development company. And my dad's company is a 1398 01:21:27,100 --> 01:21:30,700 parallax Financial research, which does amazing forecasting 1399 01:21:30,700 --> 01:21:35,300 work in traditional markets Trad, Phi and has its tools on 1400 01:21:35,300 --> 01:21:38,000 Bloomberg. So, basically, I just consume a 1401 01:21:38,008 --> 01:21:44,100 lot of news, retweet, a lot of news and really excited about 1402 01:21:44,100 --> 01:21:46,500 Bitcoin and excited about libertarian politics. 1403 01:21:46,500 --> 01:21:48,300 So hell yeah. Awesome. 1404 01:21:48,700 --> 01:21:50,600 Good stuff. Alex, thank you so much for 1405 01:21:50,600 --> 01:21:51,300 coming. Show. 1406 01:21:51,300 --> 01:21:53,600 I'm going to put you back stage. Give me a thanks for having me. 1407 01:21:53,700 --> 01:21:57,700 Let me wrap it up guys. That was another episode of 1408 01:21:57,700 --> 01:22:01,200 Simply bitcoind live. It ran a little bit long today. 1409 01:22:01,200 --> 01:22:03,700 I know just the conversation was so good. 1410 01:22:03,700 --> 01:22:07,600 The sauce was so good. Things are going flying all over 1411 01:22:07,600 --> 01:22:10,000 the place off. These camera turned off. 1412 01:22:10,500 --> 01:22:14,600 My power went out cause I'm in Puerto Rico, but we still kept 1413 01:22:14,600 --> 01:22:17,400 the show going. We tried to bring you the 1414 01:22:17,400 --> 01:22:20,900 signal, not the noise guys. It really helps us tremendously. 1415 01:22:21,000 --> 01:22:24,800 Only if you enjoyed this show, if you feel it, gave you value. 1416 01:22:24,900 --> 01:22:26,700 Definitely hit that subscribe button. 1417 01:22:26,800 --> 01:22:29,800 Don't forget to hit that like button and we will see you 1418 01:22:29,800 --> 01:22:34,500 tomorrow guys for a brand-new episode of Simply Bitcoin. 1419 01:22:51,100 --> 01:22:53,500 Which one's the best crypto asset will Bitcoins the best 1420 01:22:53,500 --> 01:22:54,200 crypto a stroke.