Yo welcome to another episode of Simply Bitcoin live.
Your number one source for the peaceful Bitcoin Revolution.
Today we have a very special show.
This is simply Bitcoin, after all, we like to invite
bitcoiners for all, from all walks of life, sometimes they're
very well-known. Sometimes, you know, they're
just plebs on bitcoin Twitter, and those plebs usually have
some of the best takes because it's not that the well-known
people have bad takes. It's that you've heard them a
thousand times, right? So that's why we invite them
because sometimes you have no idea what they're going to say,
but the signal is so goddamn good.
Anyways, Alex, how you doing good?
How are you Nica? Thanks for having me, man.
Thank you so much for coming onto, simply Bitcoin.
It's going to be a great show. But first, I have to say, what's
up to my legendary co-host, the legendary Optimus Fields, Nico
Nico. It is humble It is humble Opti
the host but good morning Nico. What's up, Alex?
I just want to give you a shout out.
Nico. Y'all need to watch that
interview. He did yesterday because that
was so fire. We went way longer than we
thought and it was pure signal, guys.
Absolutely pure signal. It's literally a must-see I
know, I'm Schilling our products or whatever but it was fire
guys. Like everyone in the chat was
super bullish that's that's the content we're here for spreading
that sound money. Gospel man.
It was awesome. Yeah it was it was a lot of fun.
It definitely went ran a lot longer than I thought it would.
But anyways before we start the show today we're going to talk
about how to use Bitcoin without the internet.
Yes it is possible. We're also going to continue
covering the disaster of aetherium aetherium run by
Amazon. Regulated or what is it?
Run by Amazon regulated, by the US government, I forgot the
tweet. It was so good, but you guys get
the general gist of it. Anyways, Opti, what are we going
to talk to talk about today during the daily culture?
I think this is the third daily culture.
Well, we've been getting a lot of shit for some of our
sponsorship. So I am going to address some of
this stuff and then furthermore, if we got enough time, I have an
awesome Eric case on thread. So we'll see, we'll see if we
get there. I know the news.
Been running long because there's a lot of news out here
but yes, I am bullish on The Daily culture.
I love it, man. It makes me feel good that I can
talk about the stuff that I like.
So, here we go. And man, let's just get into
this Nico. Let's just get into his.
I'm looking for the Tweet because it's such a good sweet.
Anyways, I'll find it later. Let's start the show.
Number two brought to you by not all they make some of the best
Bitcoin. Nodes run your own version of
Bitcoin core. The lightning Network whirlpool
and Dojo all from the comfort of your own home.
Remember guys, if you don't run your own Bitcoin node, you're
trusting someone else's and if you're a digital Nomad you have
no excuse because now you could run a novel through a virtual
private server. Visit noddle Dottie you today.
That's right. And perfect episode.
Literally tell you the importance of running your own
Hardware, run your own version of Bitcoin core and you can only
do that. If you run your own node you
could build one or you could buy one obviously, we recommend the
novel, it's one of the best anyways.
So the actual tweet says aetherium run by Amazon
controlled by the US government. All right, just to just to
clarify that because I had a little brain fog.
Anyways, the Bitcoin price at the time of recording is that
23,000 $365 sad. It's per dollar also known as
Moscow, time to thout 4280, block height 740 9855 reachable,
Bitcoin nodes, 14,800 and three blocks of The Happening. 90145
having estimate April 21st, 2024, it's coming up total,
lightning network capacity, 4547 .33 Bitcoin, estimated value
around. Million dollars hash rate.
Last 90 days estimated hash rate, there's no way to actually
know the hash rate every website.
Calculates it a little bit differently, 206 X2 hashes
realize monetary inflation again taking the US dollar absolutely
to school one point seven, eight percent during The Happening
that number should be cut in half market cap also known as
market capitalization 440, six billion dollars with It's a be
kind of want to do a little bit of hold on.
Before we got into that can we, can we go back to that realize
monetary inflation? I just kind of realized that
Bitcoin even at one point seven. Eight percent is the lowest
inflation rate of any money. Any currency out there in the
world and this isn't even fully diluted Bitcoin hard cap, 21
million Bitcoins, man. I don't know if we ever all the
people out there saw but the UK has double digit inflation.
And that's them manipulating the CPI.
Bitcoin is the way anyways, go, Anika.
I'm bullish. Bullish numbers there, dude.
No, it's good. That you poured it out because
that will continue to get worse. So the Bitcoin is just gonna it
shines the light of Truth on everything and it's just going
to expose the scam that is Fiat currencies.
Think about it this way. We are forced by legal tender
laws to earn in a currency that literally, Steals from us.
That is how the system is designed and Bitcoin shines, a
light of Truth on that and it provides an alternative that
can't be easily co-opted by governments, right?
Which is really emphasizes the importance of decentralization.
So I think you brought up a great Point Opti.
Screw the Fiat currencies. Anyways, I want to kind of have
a throwback. This is the importance right?
Of hot curling. Your Bitcoin don't trade.
What Odell always says. Stay humble stack SATs.
Audio listeners. This is a screenshot of Reddit
and it says is someone who posted this 11 years ago and
they said, of course, they deleted.
Their account. Will Bitcoin be $20 each by the
end of August, if you're right, you could win 10 Bitcoin.
Whoa. This is an easy bet I take no
wow holy crap that's like twenty thousand dollars for two hundred
forty thousand USD today. The power of absolute scarcity
is something that we White don't understand yet.
Anyways, I have a video for us to watch today.
Hey, and react to. It is from the Robert Breedlove
podcast and he brought on Catlin long and Catelyn.
Long was talking about the importance of self custody.
Anyways, check out the clip and then we'll talk about it.
Should have hid somewhere around six figures in this in this
previous cycle and it didn't. So why didn't it?
Because there is a lot of paper Bitcoin out there.
That's supplying the real Demand with fake Supply and what I mean
by that paper Bitcoin is those are iou's if you added up all
the ious from the intermediaries and then added up the total
number of Bitcoin outstanding. What it's nineteen Point 1
million or so, I don't think we've hit nineteen point two
million yet. I'll bet you that we're well we
already know, right? Because we've seen some failures
counterparty failures. We already know that the total
number of Bitcoins promised to people through intermediaries is
far greater than 19 Point 1 million, right?
And and so what happened all those intermediaries that sold
their customers and I owe you on bitcoin to pay proverbial paper
Bitcoin that went to satisfy real demand And any time you
push the supply curve out. If you think about
supply-demand, I did a tweet storm about this a little while
ago, and someone just brought it up to me recently, so I can dig
it up and send it to you, so you can send it out.
Anytime. You push the supply curve out,
Leaving everything else. Constant leaving your demand
constant? What happens?
Your price goes down and that's what's happened here.
So dude, it sounds like what they're trying to do, right?
And this benefits, the government right?
Is to manipulate Bitcoin the way that they have successfully,
manipulated the gold market for so long.
Right. They have sold paper gold, right
and unfortunately, we're seeing the same thing happen.
Here. They're just paid.
You can I buy some Bitcoin from you?
Sure, but I'll custody for it, I'll custody for it for a for
you too. And how are you going to come?
Arm that that institution actually says the Bitcoin that
they sold you like, how do they, how do you know that they
actually have that Bitcoin? The only way to know is by
taking self custody and this is why self custody is so
important, right? Self custody basically tells the
exchange. Hey, you got to put up or shut
up and what we saw with the whole Celsius debacle, in a lot
of these platforms that collapse, what were they doing
with a lot of the Bitcoin that they were holding for people?
They were speculating with it. There are trying to get a return
on your Bitcoin and then when the price went down, they
realized that they didn't have enough Bitcoin to honor all the
deposits, all honor all the withdrawals and what do they do?
They had to file for bankruptcy and I suspect a lot of these
exchanges that are even the big ones.
They don't have the Bitcoin that they say they do if everybody
withdrew at the same time, they would not have enough Bitcoin to
honor all. Those withdraws.
And this is the important of self custody.
It does two things. It protects you from the BS.
You know, partially reserved type of exchange bullshit behind
the scenes and it also kind of helps the price a little bit,
right? Because if you could it's what
Catlin long said, if you could extend the supply, if you can
make the supply longer and longer and longer that's just
that's just price. Depression is just going to
bring the price down. Now, what she said about, you
know, the expectation of Bitcoin sitting hitting six figures the
last cycle, the the previous cycle.
I don't know about that, but I can tell you this, I think that
a lot of people had really high expectations for the last cycle,
and they're expecting a bitcoin price between 100 and 200 K and
were let down. When that didn't happen, I think
that was a combination of two things.
I think that the Chinese Communist party Band Bitcoin
mining at Exact right time. You could make that argument
that that's an attack on the price of Bitcoin attacking the
price of Bitcoin is slowing down adoption, right?
The price of Bitcoin going up, is what attracts more people to
come? That was the genius of Satoshi
in the for the roughly four year having cycle, right?
So and the other component, right?
Is man, whether it's, you know, the infamous Plan B and is
bullshit ass, you know, stock to flow and all the chain of Isis
guys. And whatever everyone was
expecting, a minimum 100K Bitcoin and I'm pretty sure that
I got a lot of people got super wrecked.
When they did a leverage long and Bitcoin only hit 69k and
there were expecting 100K Bitcoin minimum, right?
I think that this problem with Catelyn long is talking about
the rehypothecation of Bitcoin is going to continue to get
worse. Not better, right?
And really the way that you protect yourself against that is
taking self custody Listen, we can't win this revolution.
Nothing will change. If people don't take back their
full control of their wealth and by doing that taking back full
Financial sovereignty, that's how you win the revolution.
That is actually how we make change.
If we don't do that, nothing will change, anyways, Alex?
What are your thoughts on this? What are my thoughts?
Yeah, well, I agree with you broadly and I think that oops,
the desk. I think that the interesting
parallel with with talking about price suppression and Bitcoin
via Bitcoin future shorts or whatever, you know,
rehypothecation or whatever. The suppression mechanism is,
the interesting parallel is over in the precious metals
Community, because, you know, you already mentioned it that
Price suppression. You know, we're sort of calling
foul in terms of, you know, those assets as well.
But the Curious thing about it is that it's really says more
about the US dollar being your unit of account than anything
else, right? Is that if the unit of account
in your head is still the US dollar like that's kind of
residual of the siop. And so you know we talked about
hyper Bitcoin is. Ation.
But we don't talk a lot about what it's going to feel like to
denominator everything in SATs. And I think that's, that's
really key because I believe that in a sound money, if your
unit of account is has shifted and into into that sound money.
Like if we even if there's some Shenanigans going on that
ultimately you're going to get better price, Discovery better
free market unregulated. Free market signal for different
asset classes if their denominated in a sound money.
And so, you know, you can look at the US dollar price history
of gold to which is relatively not, absolutely scarce.
And if you were to denominated everything in the whole universe
of Assets, in troy ounces of gold, there'd be something
useful there in that data, I believe to and I think even
more. So now that we have something
that's absolutely scarce. Yes.
And can then be transactive ol, you know, on lightning and
everything. So, you know, I think price
suppression is just a subsidy and it's sort of like a shadow
Peg currency peg in a way that's being done.
Sometimes in a really, you know, illicit way I guess by Wall
Street. So, you know, it's it's just a
question of, are they really doing it?
Are they, aren't they? And then if they're doing it,
how That break you know people speculate on the breaking of
currency pegs all the time and it's an asymmetric bet you could
make a lot of money if you're right at the moment, when say
the Swiss franc get son Peg from the Euro and that's a multiple
hundred standard deviation move or something that shouldn't
happen. So yeah, so speculators could
definitely play either side of that trade, if that is indeed
happening because it's artificial Yeah, absolutely.
And Opti, what is the plug perspective on this bro?
Well, first off, I'd loved Alex's point about Fiat, Maxis
and people not switching the unit of account to bitcoin, I
spot on completely spot-on. And then, furthermore, on the
rehypothecation, I love how Caitlyn long frame this.
I say it all the time. You know, that the paper Bitcoin
iou's are definitely a problem. I've been, I've been touting the
same thing. A while, like self custody is
the revolution. Make sure you hold your private
Keys. Make sure you're taking Bitcoin
off exchanges, if you are using exchanges.
And then furthermore, everyone has the memes of like
institutions are coming. You know, the institutions are
coming, the institutions are here, and it's like, yes, they
are here, and they will try to rehypothecation your Bitcoin.
If you do not take your keys into self custody, I would say
this is a feature, but it's definitely a bug, but we know
it's back to the whole idea, you know, people in the Fiat.
Game are going to play or try to continue to play the Fiat games
in Bitcoin until they get wrecked.
And, or furthermore until you guys do Bank runs on the
exchanges out there, like shouts out to.
Is it January 2nd or January 3rd on, you know, the date of of
Bitcoins creation? The take your keys day.
So, you know, as bitcoiners as part of the culture, we
definitely try to get people to understand that self custody is
the way that you can't use an exchange to hold Bitcoin.
But also this reminded me of that one, how many posts where
he talks about in the future. There will be fractional Reserve
Bitcoin Banks and they will be fuel Reserve, Bitcoin Banks and
people in the free market will have to choose what products
they want to use and what risk they're willing to take.
And maybe he was saying that eventually, this this risk and
trade-off will be a lot more up front.
But right now, we definitely know that the institutions are
suppressing the Bitcoin price. We know a lot of people are
rehypothecation their Bitcoin out there and it's up to you
guys to call their Bluff. Take your Bitcoin into self
custody and furthermore, they can only suppress the price of
Bitcoin for so long until the DCA Army and the having takes
over the supply and the demand just eats up all this money.
So guys, continue to DCA continue to stack SATs continue
to spread the sound money gospel because this is the revolution.
Take responsibility for your money and stop.
Outsourcing your trust, guys. Remember what it says in the
white paper, the financial system that we currently live in
is good enough but it just Outsource too much trust.
So we're calling their Bluff. We know these people aren't
trustworthy. We know that.
Hey look, I'd like to think that I'm a noble human, but, you
know, if you gave me the power to control people's money, I'm
pretty sure I would also print more money.
Me and, you know, it's like, you know, it, hey, I am not above my
incentives, I understand this, I am only human.
So, you know, that these people are out here trying to re
hypothecate your Bitcoin, which means take your Bitcoin into
self custody, the revolution is self custody.
We say this all the time, and we're going to continue to say
it forever, because that is the revolution guys.
Boom, exactly, Amen to that. Anyways, let's move on to the
news. Daily News brought to you by
crypto. Cloaks.com, they make some of
the best 3D printed Bitcoin merch.
From node cases to keyrings to the vents on the back of your
Asic for Air Management and of course the famous 3D printed
Bitcoin. Grenade toy which comes in any
custom color, your heart desires you want it in Gold, they make
it in gold and you can take advantage of the promo code down
below to get 5% off crypto cloaks Dot.
Mom. Alright, so today we are
literally going to dunk on eith. We're going to expose a thief
and then we're going to get into the details of how to send
Bitcoin without using the internet.
First of all, this is Brian. Not wrong.
He's the CEO of these shit coin exchange, these chick coin
casino coinbase. He says sanctioning kit
technology as opposed and I'll tell you where the signal is,
right. Right.
Sanctioning technology as opposed to an individual or
entity seems like a bad precedent to me and it should
probably be challenged could have many Downstream unintended
consequences and you're like, okay, you know, at first you're
like yeah, solidarity, Brian Armstrong is standing with us
but If you scroll down, it says hopefully obvious point.
We will always follow the law. How does that apply?
I'll get to it in a sec. This is e.
Nodes, dot-org. This is what I use a lot because
I was dropping some comments, a couple of these last couple
days, right? Where it's really been exposed.
That etherium is really already been captured by the US
government and a lot of the eith people were having such
cognitive dissidence. I had to bring up the receipts,
right? And this is a really good source
for that, right? And you ever Underneath person
we go to network types, right? And this is the type of ethereum
nodes. Remember aetherium is extremely
resource-intensive, right? That's how they have all the
smart contract, capability, etc, etc.
Because of that, you need. It requires High Hardware
requirements or specific Hardware requirements.
Most of which most people don't have at home, right?
So what happens, they Outsource A lot of that, a lot of those
harder requirements to server Farms.
The problem is that there's only a handful of companies that
could afford to run those those server Farms, right?
And here is the companies that are running that and you'll
recognize a lot of them from Amazon.
Amazon right now is running 48% of ethereum nodes.
That's right. Ladies and gentlemen, 48% of
etherium is run on Amazon, web servers servers Oracle.
You've heard of them, Ali, Google Microsoft, oft more
Amazon digitalocean, right? I'm sure you recognize a lot of
these companies. So, what does that mean?
That means that they're very vulnerable to capture by
government. How long until the US government
says, Hey Amazon, Google Oracle. You can't run an etherium node
that's not sanctioned compliant. How long until that happens?
And as you could see with the coinbase CEO, At the end of the
day, they're CEOs, they want to remain business, they're not
revolutionaries. The people are the
revolutionaries and I'll get to the difference in the design
between the two networks, right? Because hopefully, we will
always follow the law. He's the CEO of a public
company. I'm going to fight the
government right now. If you compare that with
Bitcoin, this is why the four cores in 2017.
We're so important because it was the people that rose up to
the most powerful mining. Conglomerate at the time.
Which was bit me and said, hey, we don't want bigger blocks.
Why did we not want bigger blocks?
Bigger blocks require more resources.
Meaning it would require people to invest more and nodes.
Meaning some people would inevitably run those nodes on
servers because it's a lot easier if you just rent, someone
else's computer rather than running it at home.
If you look at how Bitcoin is done, the resource requirements
are low. It's about, it's between two to
three hundred dollars. If you want to build it
yourself. If you want to buy euro note it
goes up to 1,900 bucks. Try doing that with aetherium,
it will require thousands and thousands and thousands of
dollars which is why you get this situation where the
majority of nodes are run on giant server companies, whether
that's a Amazon Google Microsoft and that makes them prone to
capture by government. But it's not only that.
Let's talk about proof of steak or a lot of shit coiners, talk
about oh a proof of stake is going to change things.
No it's not. You know, who the biggest acres
are? Coinbase Kraken.
Bitrex American exchanges that are prone to government
regulation and capture and we saw huge arguments happening on
Twitter and basically where they were talking about is hey the
etherium community needs to stand up.
The etherium community is not in the position that the Bitcoin
Community was in. When they did the user activated
soft work the user activated software, could only happen
because the people run the Bitcoin software by running
their own nodes. Which is why we always advocate
for that on the show. If you want voting power, run
your own note you when you run your own node, you get to decide
as an individual, what Bitcoin software you want to run.
And what Bitcoin software you don't want to run.
But when you Outsource that responsibility to a server Farm
run by a large corporation, that's beholden to the US
government. You don't have that choice, you
Outsource that choice. This is why etherium inevitably
will be captured. this is the future of ethereum and which is
why you have Me theorizing this you have Corey clips and also
theorizing this as well. If you just use common sense,
what is the next logical move? The next logical move is for
aetherium to get in bed with the state to make sure the state
protects it with the regulatory moat and at the same time,
attack Bitcoin, because they want to pump their own bags.
Aetherium is not built to separate money from State.
It's a scam, it's always been a scam now because I'm saying that
that doesn't mean that in the short-term etherium can't
outperform Bitcoin. Does it mean that?
But what it, what are you here for?
What gets you up in the morning? I came here to get rich.
I'm not going to lie as well. I got into Bitcoin.
But I stayed here for the revolution.
I stayed here because I want to free Mankind, from the tyranny
of Central Banking. That's what this is about.
That's what gets me up in the morning.
Absolutely. And only Bitcoin through its
decentralization is capable of doing that.
Aetherium and it's already doing that, they're already advocating
for Central Bank, digital currencies being built on
ethereum. They're already using their
marketing money to attack, Bitcoins proof of work, which is
what makes Bitcoin uncorruptable.
Anyways, what are your thoughts on this city?
Then we'll go ahead and hit it first.
It was a good ramp. No, I agree.
I do I have an echo. It's all good.
The the whole point of a central bank, right?
Is to run a currency Zone but then to kind of obfuscate that
fact and so the fact that You know, now we're talking about
CBD seize. The people that should be really
confused or worried about that, right?
Are the bankers themselves that are in the FED system or in each
of these currencies on Management Systems because
they're the ones who've been lending that currency into
existence. I mean, everyone should be
worried about it because of the surveillance aspect but it's
it's clearly a move to cashless Society worldwide and that's
really bad. Delivery.
I think that's just categorically that for Liberty
and and it's a little ironic with bitcoiners to kind of
attack on the Cashflow subject because obviously we want
Bitcoin to be cashless but we also want it to enhance Liberty
everywhere it touches everywhere in the world.
The way to do that is to make sure there are crossovers to
completely Anonymous cash, equivalents and cash.
I mean, the idea of having your seed phrase, on a metal plate,
is physical, right? And so that's feels like cash
and opened. I'm as a little physical a bit
of Bitcoin so that feels sort of like cash.
I think that there's a lot of good ethos in the community
toward resisting cashless Society nonsense.
Absolutely. And, and that's the key, right?
Is that fine? They want to move it a cashless
Society. At the end of the day they're
the Ones that control that money right with Bitcoin is it's like
listen we're just going to opt out completely of your system.
You want to take it to this dystopian?
You know, vision of the future where these Central planners
control every single move you do.
And now they're going down the bid of now you can eat certain
foods because you know, Carbon and all that BS.
Yeah. Bitcoin is the way out.
And which is why we always say on the show, we're going to keep
saying it till the end of time until they take us off the air
Bitcoin or slavery. Anyways Opti, what's up, yeah?
Mika, Jones and full of fact. Let's go first off Shout out to
Jeff Bezos the true owner of ethereum 48% of he's nodes
running on AWS servers amazing amazing.
Imagine being a part of the the pseudo decentralization theater
art, that is aetherium and shit coins.
And then this this reminded me of thought it was a joke, right?
I first read about ether. Yeah.
All right, exactly. So this this reminds me of the
tweet that I put up yesterday by Bitcoin is saving and it was the
eye. Yeah, yeah.
Oh my God. Shout out Jeff Bezos.
Yeah, he's laughing all the way to the bank.
Anyways, this reminds me of Bitcoin is savings tweet that I
mentioned yesterday about bitcoiners bullying and ofak
compliant company and he's heads meth heads just crumbling to the
ofac compliance to all you Eve guys out there when ofac
compliant nodes because we know that's coming soon.
And then furthermore you said something on the lines of when
we'll eat Aligned with the state and I will just double down and
say that eath is already aligned with the state.
Look at who is backing you look at who they're partnered with.
It's pretty clear follow the money and you will see what is
happening. And then furthermore Nico I'm
not the biggest fan of the meme of voting power with your node
but I do understand what you're saying that choose your rules
and that is what is going on here, guys.
Vote with your pocketbook. Use a node, Don't just run a
node. Use a node verify your
transactions with that note because then, you know, you're
actually using Bitcoin and you are on the Bitcoin Network.
And then furthermore, I will also double down on the meme.
Guys, came for the money, but stayed the fix the money.
This is, this is just the normal one of the normal Bitcoin
feedback loops number goes up, people get caught up in in the
fomo and then they start to double down an Tation.
They go farther down the rabbit hole and then they realize there
is no going back to the Fiat system.
I don't understand how anyone could become a Bitcoin or how
anyone could get fully orange peeled.
And then they go back to the Fiat system.
It's literally that scene from The Matrix where the guy, you
know, unplugs and, and he's eating the steak and he's like,
man. I know it's fake, but it tastes
so good. Like, I just, I can't, I can't
in my right mind. See a big Corner.
Really go back to the field. Is the mic.
There is no alternative guys, we say this all the time.
Bitcoin fixes us. Bitcoin is Bitcoin is Hope and
that's why we do what we do. But furthermore, I'm gonna
Double Down, guys, a push to a cashless Society in my opinion,
just means a hyper Bitcoin eyes world.
I have faith in humanity as these totalitarian and these
authoritarians double down on, making sure that you are tet
tracked, bagged and compliant. People will find the Escape door
and that escape door is Bitcoin. So, as much as I am concerned
and worried about these totalitarian in these
authoritarians trying to push Society to a cashless CBC type
system, we have Bitcoin and people will escape into Bitcoin
because no one in their right mind wants to be chattel.
You like we said it, we say it all the time it's Bitcoin or
it's slavery. And this isn't even hype like
hi. Bali.
It's literally in their rhetoric.
They want to control you completely, they want to make
sure that they can shut you off Society.
If you have wrong, think they want to make sure that you can't
even save money. This is absolutely disgusting.
Anti Human Behavior. They're stealing your life force
and they know it. These parasites at the top.
Shouts out to praveena. I'm stealing that Meme.
Want you in total control? It's absolutely disgusting.
This is Why we Bitcoin? This is why we spread the sound
money gospel. This is why we show up every
single day to make sure that people understand that.
Yes, this is actually happening. This isn't a conspiracy.
This is in the rhetoric in the writings, but you have a
solution and the solution is Bitcoin.
Remember what? We were talking about with 1971
and how people didn't even know there was a problem, you know,
people still don't even know what Fiat means out there.
But we have Bitcoin guys, so you guys need to be louder.
You guys need to be proud to be a Bitcoin.
ER, you need to spread the sound money gospel, because there is
no alternative and who knows how long they can kick the can down
the road, but if you need Bitcoin, it's already too late.
You want to be prepared and Save in Bitcoin, because you never
know what the hell is going to happen, man.
It's getting crazy out. There it is, getting crazy out
there. That's right.
Anyways, moving on, moving on,
we have a little bit of time left to cover this.
How do you? Bitcoin without the internet.
That is it questions? So, it says, imagine waking up
one morning to find that the internet is down.
Not because the Wi-Fi has been disconnected.
Instead, your government has pulled the plug, you have, no,
you have no idea when he'll be back online and in the meantime,
you're cut off from life as, you know, it ranging from contact
from loved ones abroad to paying for anything by card.
Since Society isn't big on keeping cash.
These days and ATM stock up. Only so much paper money, at a
time. Chances are, you'll have to step
aside or engage in a few of his fist fights.
If you're to put a meal on the table, Since Bitcoin is itself,
a form of digital currency would amount of pre-planning to set up
a transaction. But in theory it could still
operate even when conventional options are forced fortunately
removed from the equation. Depending on the political
stability of your geographic location.
Learning how to send Bitcoin without the internet.
Could be nothing more than a fun Sunday afternoon science
project. Then again it could provide the
way out of a tight spot one day. Now what are those methods?
This is the first one come 2018. There is a new experiment, Town
ingredients book, brooklyn-based, go Tena, great
company, a mobile mobile long-range off-grid consumer
mesh Network and a privacy will privacy wallet, Samurai wallet.
New Zealand developer transported Bitcoin or shit
going from a distance of twelve point six kilometers away
entirely offline using only a network.
Disconnected. Android phone and for portable
antennas. This is what we're talking
about. The mesh Network, this is an
example of the mesh Network being used.
The downside of that, of course, is, that's a lot of relay
stations, right? That's a lot of Hardware.
Now, let's move on to the next one.
This is the famous one. This is the one that nvk.
He has pinned to his Twitter and he sent Bitcoin through ham
radio. So, with Novak and Patterson's
latest feature crypto, Twitter went wild Zabo showing that he's
still a firm. Proponent of taking Bitcoin
Skyward. Chimed in to congratulate
congratulate the duo for a successful send-off that not
even a snowstorm could stop. So what are they talking about?
Yeah it's really really absolutely badass.
So bam, Bitcoin sent over seven point zero, seven seven MHz via
js8 call to Samuel Pat right. So and I don't know if you guys
know a lot about ham radio it but it bounces off the
ionosphere. So a ham radio signal from India
which is halfway across the planet of where I am today,
which is on the east coast of the States ham, radio signal
from India, could get here. And if I have a radio, if I have
a ham radio, I could hear their Transmissions right.
So it's very long distance and what Novak would nvk proved
here? Was that?
Yes, you can send signal through radio but what about the other
alternative? The other alternative, which
honestly is my favorite right now?
It's the block stream satellite. Yes, block stream has a
satellite or multiple satellites.
Literally in space that you can connect to the Bitcoin Network,
through the block stream satellite network broadcast, the
Bitcoin blockchain around the world 24/7 for free protecting
against Network interruptions and providing areas without
reliable internet connections with the opportunity to use
Bitcoin. But it's not only that this new
company which is why I wanted to cover this today, Bitcoin,
without internet. Now, you can send Bitcoin
through SMS. Now, the unfortunate about a part about
this Right? Is that it's a centralized
service but it actually makes a lot of sense, right?
And Kenya goat on he's home home, which I'm assuming he's
the founder of this company. He explains that topping up a
phone with airtime is as commas as credit card payments in the
west, a report by Caribou backs to the statement. 94% Financial
transactions in. Africa are through ussd, the
protocol used to send text messages, whereas just 6% of
these transactions are made Via mobile apps, Soooo in some while
there are millions of phones in Africa, they're mostly used for
texting kg has stumbled onto something.
That could be huge for Bitcoin adoption in Africa and that's
badass. Here is an example, some
screenshots of that happening. Right has gifted you ten ten
thousand SATs, right. And all you have to do is
through text messages and also another thing is that Bitcoin at
the end of the day Bitcoin is tax, Bitcoin is speech so you
can sign a transaction. Forest comes to worse.
I don't suggest this but technically you can do it by
hand. Technically you could hide a
Bitcoin transaction in a ton of emojis, right?
And you could write up a software that could interpret
those emojis as certain characters and boom, that is
assigned Bitcoin transaction. Now, why am I telling you all of
this? I'm telling you all of this to
make the point that you can't stop the signal.
You can't stop the honey badger. Censorship and tyranny and the
Quest for a better life to improve your living situation
is, the mother of innovation people will find the way like
water going around a walk, a rock and then over time, that
water will chip off at the rock over a long time, period, right.
Can't stop Bitcoin. Eventually the signal goes
through. So why is this so consequential?
It doesn't matter. If you're living in the most
totalitarian country, let's give the example of North Korea.
Now, with Bitcoin, you for the first hint, time in your life,
have the chance to own private property, even in that
totalitarian state without fear of censorship or government
seizure, they would need to find out that you have that Bitcoin
wallet and they would still need to find out your sea.
Of course, you know, they could torture you, they could put you
in a box that can tell you that in there you they could tell you
that you're not. Not going anywhere, fine.
A government or a nation-state could definitely do that on an
individual by individual basis, but try doing that to a whole
country's population how you going to convince a whole bunch
of people? Hey hand over your Bitcoin seed,
for your safety and this, ladies and gentlemen, because it's so
hard to stop the signal. It's so hard for governments to
confiscate and redistribute wealth.
Effectively is why I believe this.
Is going to completely change, the relationship between
individuals and their governments.
And this is going to change the dynamic.
And eventually in, this is the theory in the sovereign
individual. You're going to start to see a
customer type relationship with governments rather than the one
that they have today, which is more like Russian surf, pay your
taxes, shut up. Inflation is high.
We're going to hire 87,000 agents.
Just to make sure that you don't complain too much with Bitcoin.
It gives you the power to vote. With your wallet and vote with
your feet. And now I suspect you're going
to see more and more Sovereign individuals going to
jurisdictions in which they are treated best.
And we already started to see that a little bit with Bitcoin
Miners and how they on a completely decentralized basis,
following their own incentives migrated from China to the
United States looking for financial opportunity, looking
for profit. And that profit I think is one
of the best incentives ever created.
And it is definitely a lot stronger than the only thing
they have left, which is coercion.
Anyways, Opti, what are your thoughts brother?
Well, Nico, I'm really glad that you covered this.
This article Chef's out to that company.
My chinkara, I believe it means money or something of the like
in. And I don't know what language.
But anyways, I was going to cover this for the culture, but
I was going to cover in a different light and it's
essentially the signal is, spreading guys to the places
that need it first. First.
And, you know, like a lot of people can say what they want
about Bitcoin in the first world, or what have you.
But as we've seen countries in the third world and individuals
are adopting Bitcoin, and this is absolutely bullish because
imagine just just having really bad, bad currencies, and that
being your only option and then further more than you have to go
to the ultimate shit coin, which is the dollar.
But, you know, the signal spreading.
And the people that Bitcoin will get Bitcoin first and those that
we don't paint in good light will get Bitcoin last.
And this is a feature, not a bug.
So shout-out to imagine Cora. I think this is a really
awesome. I listened to a space over the
weekend and super bullish on this idea and also shouts out to
us TECO. They partnered with my chinkara,
one of my favorite Bitcoin companies and I just love what
they're doing, this is just absolutely bullish in my
opinion. I can't wait to see this this
This type of Bitcoin product spread out across the world
because people need Bitcoin and the signal can't be stopped.
So like this is this is I think also just a testament to what
Niko we says, you know people cannot fathom the idea of
innovation and how humans can innovate and continue to Route
Around The Legacy system. And this is just another example
of that man, you know like first we have El Salvador.
Now we have what Like Bitcoin Lake in Guatemala.
We have a few more Latin American countries that are
doing their own initiatives, to spread the sound money gospel.
And now we're continuing to do this on the African continent,
it just absolutely bullish. I'm really excited to see how
far this product goes and and this company goes and how many
users they can get. And then furthermore, just to
see more people and more Domino's follow along with with
this kind of product or these kind of ideas.
So, in my opinion, absolutely Bulletproof.
Josh, I'm really glad that we covered this one.
You're muted, Nico, your thoughts Alex, and then we'll
move on to the culture. Sure.
Yeah, I think that the The whole idea of Distributing it out,
it's sort of an echo you know, in an easy format.
So text message or whatever or having these other ways to get
it over ham radio you know into third world countries.
It's sort of an echo of El. Salvador are dropping which as a
Libertarian and me didn't like a whole lot because it's kind of
like a you VI in a way to just tear drop money free money on
people or free Bitcoin on people.
So the interesting thing that happens when you imagine a whole
lot more suddenly a whole lot more medium of exchange
occurring in a given Zone like El Salvador or even with all
these little text message, transactional, things happening
say in Africa. Is that the velocity goes up,
right? The monetary value, Velocity
goes up by a lot for the sets that are actually being used to
trade goods and services on the ground in the real economy.
And it's not clear to me just the economics of that.
Oh whether or not that you know what that would do for the
dollar price, right? But the certainly the local
currency that it's replacing like the naira Nigeria or
something is going to be competing, then against directly
against that. And so the response of
governments is Is huge because then at that point, they're
going to see that as a direct threat to their currency like
erdowan did in turkey and they're going to respond with a
feedback loop of tyranny or you know, forcing people to do
certain things. And before I came on Nico I was
reading up about the Venezuelan hyperinflation a little bit and
you know Maduro even made it illegal to post the real
numbers. I guess of what was going on
with the inflation and things like that.
That. So it's it's so much of this
currency war on the hyper, local level.
And a lot of these innovations that are going to push it to be
medium of exchange. At that local level are going to
trigger governments, to do more and more stupid stuff.
Yep, absolutely Opti. Let's move on to the Daily
Culture by Akasha. Daily culture brought to you by
Swan Bitcoin.com. Swan is the best way to build
your Bitcoin stack with automated Bitcoin savings plans
and instant purchases serving clients of any size from ten
dollars to ten million dollars Swan, incentivizes self custody
and they also incentivize dollar cost.
Averaging spread out that risk, visit Swan Bitcoin.com today.
All right, before the daily culture, I want to give a
special shout-out to Pacific Bitcoins and be the largest
Bitcoin conference on the west coast.
In sunny sunny Los Angeles. California November, 10th 10th
through the 11-speaker list includes core Eclipse than Jeff
Booth Dylan, the Claire Pierre. Richard Mark Moss, Alex
gladstein, doc, Jeff, Ross. And many, many more.
You definitely want to get your tickets, and you can take
advantage of the promo, code down below to get 10% off your
tickets to Pacific Bitcoin. All right, guys.
Well, as I told you at the beginning of this show we get a
lot of shit for our sponsors and what we do and Shout out the
swan. This is the swan segment.
So this is a tweet that we were going to comment at the
beginning of the week but we have so much good signal that we
just didn't get to it and I figured that it would be better
than for us to cover in the culture section.
So I got this tweet. I'm going to read it.
And then I got a couple tweet threads, that I think will make
my point for me, and then we can talk about this.
So we got Dennis Parker. He is quoting our, our clip that
we did of US Government shuts, down deeper actually, this is a
whole video and then we got a response by basil--oh Nico
simply Bitcoin TV. Great podcast, enjoying it, it's
a bit odd by promoting Swan. Basically, you guys are
suggesting to buy kyc coins, but at the same time, you want
privacy, anonymity and fun. Ability using Bitcoin in terms
of fungibility kyc is the enemy a bit controversial in general.
And while yes I can see what people are saying.
But if you guys ever heard me in the space and I'll speak for
myself and he Co you can add on your two sets afterwards.
I tell people very straight up. Look, buy Bitcoin, however you
want. I am not here to tell you guys
what to do with your money and with your decisions.
But if you are going to use an exchange, We love Swan.
They are friends, they are bitcoiners, there are Bitcoin
only company. And yes, I know, we can get into
the weeds and the Nuance later, but I fundamentally believe that
you just need to buy Bitcoin. Whatever is is, you know the
most accommodating to your life. I can't tell you what's the best
way to buy your Bitcoin? But I am definitely a fan of non
kyc Bitcoin. If you can do that with your
money, then by all means, by non kyc.
But furthermore, in my opinion and this idea was sparked
yesterday and I'm glad that I had someone with a lot more
experience in in things than myself yesterday.
And I'm referencing the interview that Nico did with
Lawrence. And Stephen Lawrence made a
point yesterday and I'm glad that he made it because I've
been thinking this and I just thought, like, oh, I'm just
naive Opti, you know, I'm always thinking for the best and I'm
hopeful for the future, and he made a point.
And I've been, I've been going back and forth in this, and I
kind of just felt like, oh, this is just a dumb take by Opti, but
he said, what I've been thinking for a while is that the Legacy
system as is doesn't even have the resources to, to track and
bag everyone in the system that control, let alone one that is
completely outside of their provision in their control,
which is Bitcoin. And furthermore, even if I
double down on that, which we all know, That the IRS just
bought 80s are just hired 87,000 agents to essentially track and
bag you and make sure that you're paying your taxes.
In my opinion, the whole idea of self custody makes this all in a
relevant Point. Once we have everyone on
bitcoin, Iran, lay or twos or whatever.
What have you in the future? I don't think that this even
will matter. This is just part of the
transition as we always say, yes.
Bitcoin is inevitable. Bitcoin will win but The
transition is the part that we are worried about and while you
may think that I'm not being consistent in my messaging guys
just get Bitcoin as much as you can.
However you can and then spread that signal to everyone you
know, so that they can do the same thing.
And of course you need to take this Bitcoin into self custody
because self custody is the revolution.
Once you have the Bitcoin in your private Keys as far as I'm
concerned. It really doesn't matter what is
going on in the state tracking of it.
It's like guys if you are a bit corner I am almost positive.
You are on some list somewhere for the your radical thoughts.
Like I am not concerned about being on a list.
You guys see my face. Now like I'm probably been on a
list since I was 13 years old, it doesn't concern me.
Like, I've been on rabbit holes Forever on the wrong websites.
I am a proud wrong thinker. Her.
So I know the concern, tisk tisk.
Yeah. Exactly.
I know that in this urn of it's a lot better to buy your Bitcoin
on kyc so that you aren't on these lists.
Yes, I agree with this. But furthermore, not everyone is
as Savage and as you know, as much of a Bitcoin or as you
enter, I know, I know this camera, I'm sorry Nica, my
camera isn't on on fleek today, but anyways, I am full.
Convinced and and yesterday, Lawrence kind of echoed.
What I what I was saying, and I'm glad he did, because he's
way older than me. He has a lot more experience in
this and furthermore he he seemed to be a proud truther
which I am shouts out the producer Jacob.
I will get a tinfoil hat in here for you guys because I think
that's hilarious. But guys, I fundamentally
believe that it is certain a certain Tipping Point all this
is moot because they can't control the system that we have
now. Now, they do not have the
resources to, to come to everyone's house and and bring
us all to jail. It's just physically and
financially impossible. So, yes, if you can get your
Bitcoin on kyc, I encourage it. But if you're like most people
and you're trading your security for convenient guys, we love
Swan. We think they're, they're cool
people. They're awesome chefs out to
Cory. He's been slaying people on
Twitter but furthermore, I saw this strange Yesterday, and I
thought it fit in perfectly with what we are talking about and
this is by I only Apple Berg and he goes most people hot okay?
Y c coins, clearly a possible future attack.
Vector, for the state, 100% agree.
But this is where we are guys. I'm not in some fantasy land of,
you know, theoretical as I meet people, where they are and a lot
of people initially down their Journey aren't as Savage aren't
as orange pill, darn aware of all these concerns And while
yes, we'd love to get them down to two, you know, using Azteca
or ATMs or whatever. We like Swan, they're our
friends, and we think they're doing a great job.
They are on the mission of spreading the sound money
gospel, but how do we get out of this pickle?
And I, of course, I'm going to show this message because he
sums it up in a tweet. And this is by a tell.
I'm not gonna goes how will the state funds its attack if their
Fiat has become completely worthless who will work for
them, guys? You need to understand that the
state is paid with fake, funny money paper, iou's And at a
certain extent, the person, the individual, the guy that just
needs to work a job to get by will not take Fiat funny money
for these services and this whole house of cards will
crumble. When will this happen?
I have no clue. But I know that this is going to
happen. This is inevitable and like look
you guys can call this a fail on my part.
What have you? I'm okay with that.
But I've been saying forever. We are Sapphire Sapphire, excuse
me, sacrificial lamb. Alms.
We are the Pioneers, we are the ones taking on the risk.
And I fundamentally believe that in the future Humanity will look
back at us and be like those crazy motherfuckers.
I am so thankful for the risks that they took on because we are
just trying to get Bitcoin in the hands of anyone.
Any way possible because we understand that the Fiat system
is robbing you. It is stealing your life force
and has been doing it for hundreds of years and will
continue to do this unless you take back your money.
The self the revolution is self custody.
But furthermore, I really like this comment by Wicked smart
Bitcoin. And he goes, how are we going to
get out of this pickle? And his response is circular
economy's mixing by default, the use of lightning and fed immense
to office. Kate, transactions, even further
surveillance will get more and more difficult, option
continues, increasing and more privacy focused, tools are built
out. And I agree with this guy's.
As these privacy, tools get built out.
I think this is going to be a non concern.
I always say it all the time. Time sometimes we get really
focused on the trees and we need to zoom out for the forest and
while, yes, I understand that the state hates you and they are
the real enemy. And at times you know my cold
storage may not be fully set up for a nation state level attack.
But what is one of the protocols of privacy hide in a big crowd.
So we are here to spread the sound money gospel to as many
people possible so that we have an even bigger crowd of
bitcoiners out. And even, I know Nico is gonna
gonna, I know Nico is do the caveat of don't break the laws,
but I got to put in some toxic Bitcoin takes in here and we got
Giacomo in here and he goes how you going to get out of this
pickle and Giacomo, goes, mix and lie.
Agreed and then GG goes mix and shut the fuck up and he does
this post of, I forget what it's called is like shut the fuck up
Friday and it's these lawyers talking about the marijuana and
if you should get caught in the Marijuana industry.
I put the link in the description.
So if you haven't seen this video, I highly recommend you
watch this video and you will get where we're coming from
anyways, to add to this. How are we going to get out of
this? Pickle is creating your own
circular economies and Estefan. Lovera put in a tweet normalized
paying back your family and friends using Bitcoin are
lightning. That way they can pay a fee up
but you pay them with SATs into easy while it's like Moon
Phoenix or Breeze and this is also what I like To Advocate is
guys. Use Bitcoin peer-to-peer spread
Bitcoin to your friends and families any way possible.
I know you guys don't like to spend your Bitcoin but you guys
need to make sure that people are getting Bitcoin that want to
use Bitcoin that want to save Bitcoin.
And I say it all the time. The best way to orange pill,
people is for them to use it, to hold it to understand that there
is no middleman that that they are free that they have personal
responsibility in their money. And again guys you can call me
naive but I also have other people.
Echoing these ideas that look at Dave should duel.
Oh excuse me he goes they don't have the manpower to go door
knocking. It's a non-issue, I completely
agree and furthermore Magoo ha don't we go self?
Custody is so much more value than you could ever imagine.
And this is the message that we tell you guys self custody is
the Revolution and my boy, based money profit.
The money tank quoted. Instead the revolution is self
custody guys I fundamentally believe that at a certain point
of certain Tipping Point, this all is going to be moot.
Anyways, buy Bitcoin, however you want spread the sound money
gospel, any way possible, do your best to give people the the
best upfront advice, but you got to meet people where they are.
And a lot of people aren't ready to take these steps up front and
that's okay we just need Bitcoin in the hands of people.
We need people taking self custody and guys hit me in the
comment, hit me on Twitter. If you think I'm being naive if
you think this should be mopped he's fail portion.
But anyways I see that we already running an hour in so
Nico. What's your comments?
And then we'll get into the meme scores, dude.
I don't know what it was. It was timing or something, but
I'm Rico. The power goes out.
I literally the power dropped out on me.
And luckily I came back and Opti with still, you know, still
doing his bit so and it was like a second after opt.
He's camera failed once again. Yeah.
So the fun of doing this live anyways.
Are you coming to us via ham radio now or yeah?
Right. Do you imagine the the signal?
Okay, so yeah, so let's talk a little bit about this is a great
topic by the way Opti, right? Look the reality is that the kyc
exchanges have the most amount of liquidity.
They also have the best prices, the price.
You pay is that you yourself, and you probably put yourself on
a list that they're definitely making now that they hired
87,000 agents. Now, what about kyc free?
That's how most of the world works.
Most of the world does that because they don't have the
rails that we have in the western world.
So bisque is a good solution, localbitcoins was kyc, free at
one point, but of course they were big enough they eventually
got captured. So again unless it's fully
decentralized, it will get captured.
Its inevitability. The people that use the
loopholes to circumvent it. If it's a company, it will get
captured, there will be pressure, that US government is
Relentless Swiss banking in the 80s.
It was so secure that. All they would just give you a
number. There is No.
Name associated to that account, right?
It was a private number over time, the regulatory Onslaught
that eventually broke and now Switzerland.
It's getting to the point that they don't even want American
citizens, opening bank accounts there because they don't even
feel like dealing with the regulations.
It's got in like that. So yeah, don't underestimate the
government. They will get it eventually, but
kyc, free Solutions are still an honor.
If you're just doing peer to peer, Here, if you're doing
peer-to-peer, you know, someone that has Bitcoin you want to
give them Fiat for. I don't know what reason, right?
You could do it that way. Now, of course follow the laws
and regulations color within the lines, but you get what I'm
saying? Just really feels like a if you
can't beat them. Join them situation.
Another acid. Yeah.
Sorry another another aspect of this, the internet's going crazy
here. Another aspect of this, right?
Is, you could always mine Bitcoin, you mine Bitcoin.
Or they're going to try to do this, but they're not going to
be able to KY C. KY C freesat now is kyc freesat,
important. Absolutely, I think it's vital
that you have a kyc, free sat stack.
No one knows about that is completely separated from your
KY, C. KY C SATs, right?
But you have to understand. Just because they have that
Bitcoin doesn't mean they can get to that Bitcoin and that is
why we always emphasize self. Custody is how you win fine.
Let's say the state knows that you bought just throwing it out
there one Bitcoin, right? They know you have it.
What if you sent that to it to a multisig and which the C's are
geographically, separated multiple jurisdictions, they
might know you have it. How they going to do that?
How they're going to get to that Bitcoin, it's going to be very
hard for them to do. So they might be able to put
someone in a box, which is what the book, The sovereign
individual predicts that as the welfare states start it.
They start having problems collecting more.
System lose me again, I might come in and out your back, your
best. So like the sovereign individual
predicts, right? Is that you might see abductions
and people being held to Ransom. So they pay, you know, the
government, they're there their tax revenue right.
But at the end of the day, what you what is really important
privacy is important without a doubt.
What is really important is taking your Bitcoin into self
custody and then curing that That that Bitcoin properly,
through proper seed management. I really recommend multisig, I
really recommend geographically separating your seeds, ideally
in different countries, because if they do that, then it becomes
very difficult for them to get your Bitcoin.
And at the end of the day, what Bitcoin does is it shifts?
The balance of power from the government, from the state, back
to the individual. It gives the individual the
power to go. Go where they're treated best
but only if you have that self custody only if you have that
Bitcoin under self custody, so yes, I agree.
I think the whole kyc system is incompatible with Bitcoin.
I don't think, I think that the Clash is going to be so hard.
I think that it's inevitable that they say, oh, you can only
run and ofac compliant us sanctioned node because if you
don't do that, you're against us sanctions, I think that this is
where that's going. but if you have Bitcoin in self custody,
You move the balance of power to your favor and there's a mean
that we always talk about which is I lost it in a boating
accident just because they see that your Bitcoin is in a
certain address. What if you send it to a coin
join what if you send it to another address and they're
like, yo give me that. I'm like I don't have the keys
to that. The point is that they might be
able to do it to a handful of people, but if you have millions
upon millions of people holding their Bitcoin itself, D, we win
this, no matter what they try to do.
Because their laws of the old system are only enforceable in
the old system in Bitcoin, they start to become unenforceable
and I'm going to give an example and then we'll pass it on to
Alex then we'll get to the meme review.
Look, do you know the existing money transmitting laws right?
When you go to a foreign airport, right?
You pass through security, they tell you the first thing they
tell you, you have 10,000 dollars in cash.
Do you have the equivalent of ten thousand dollars in a gold
bar and diamonds? Do you have it on you, right?
That's the one of the first things that they ask you.
You could memorize 12 words in your head how they going to get
that effectively? How or let's say fine, they take
your Hardware wallet. Okay?
What are they going to do with it?
If it's a multisig. What are they going to do with
it? It's a useless piece of
hardware. And then not to mention all the
muscles again, thought experiment, actually, all the
money that they have to spend trying to enforce these laws
that aren't effective at stopping the thing that they're
trying to stop. That's where this is going,
right? So yes I get it.
Kyc sucks. I understand your point.
It's incompatible with Bitcoin. It's going to be such a hardcore
Clash. I'm all for it, but do you want
to Stack? Try stacking more than five
thousand dollars USD your the equivalent of 5000 USD on
bisque. Try doing that day after day,
you're going to pay a premium five to nine percent and pay
five to nine percent premium. And then not to mention is the
liquidity there and not to mention, you actually have to do
a physical transaction because the way that business works
right now is you're depositing money into a bank account and
how long until that loop hole gets closed with the, with the
You 85,000 87,000 IRS agents. The point that I'm trying to
make right? Is that the best protection that
you have is taking self custody of your Bitcoin?
That is number one privacy, very important not trying to take
away from it, run your own no time for that earn Bitcoin
earning Bitcoin is the best thing that you could do because
that throws them off even more. It's like, oh, that Bitcoin was
supposed to be meant for that person.
But now it's there. It's like, this is Unenforceable
as what I'm trying to say. So yes kyc am L.
It's an enemy of Bitcoin that Clash is going to happen or
pushing for it. The right people are on it, very
smart. People are doing the research.
We've had entire episodes dedicated to revealing the scam
that is kyc and am L. We got a kyc and am L expert on
the episode to debunk how useless that system is.
But you have to fight the battle with the tools at hand and this
is where we are this moment in time.
And of course I know a lot of people are going to disagree
with me but I think I'm entitled to my own opinion.
Anyways. Alex.
What are your thoughts brother? You sure.
Well, I've wrapped up a few thoughts while I'm listening to
you this is why on Twitter, I say pretty often like a broken
record that no matter how passionate we are about Bitcoin
there. There is never an opt-out to
Politics as defined by any more than two people in a room.
You've got politics, right? So, You know, that's why I'm
wearing my little porcupine, my little libertarian pin on my
pal. It's because, you know, the
whole point of standing up and trying to fight for liberty and
for something that's more authentic Liberty.
Right? Is to put forth, really good
ideas about how to manage the kind of, you know, necessary
evil of whatever state is left over after, after we, you know,
Mantle, a lot of the BS, a lot of the bureaucracy, the whole
rant that you were just on made me think, you know, it's a, you
can't beat them. Join them situation where the
government needs to really be thinking about.
Now, wait a second, what are some like they did Del Salvador
Central African Republic. Like what are some of the ways
we could actually benefit from maybe not?
Being idiotic and totalitarian and, you know, sacrificing our
core values. We just America's founding is
all about really, the sovereign individual.
Like you said, I mean, we are rediscovering Our Roots by, you
know, discovering Bitcoin, we're rediscovering our core values as
Americans really. And and realizing that there was
a big mistake that was made with fiat currency that a lot of our
Founders warned against a Jefferson warned.
You know? So that's where.
Now we can ask the question. Okay.
Well, what is the US dollar then?
Does it reflect our values? Could it again, someday reflect
our values? Could we Peg the US dollar Fiat
as it is to bitcoin? And to make to make the u.s.
dollars semi sound again. I know I think that's got some
possibility to it but ultimately, you know, There's no
reason for them to spin their wheels and fight this thing and
the thought experiment that I had when you talk about Crossing
Borders and I live right on the Canadian border.
So declaring, yeah, if you've got something of high value on
you and your Crossing Borders, that's definitely a thing.
You can just bring, you know, big suitcases of cash or
something across borders and have that be cool or big gold
bars, but let's take something very tiny.
Which essentially, you know, a seed phrases weightless and tell
me I'm going to long but, you know, let's say that there's
some sort of Rarity or some kind of collectible premium or value
onto some very, very tiny diamond or, you know, piece of
precious metal or something. And it's so small, like it's,
you know, basically weightless like a, you know, steel plate
with your seed phrase or whatever.
It's very, very small, but the value is through the roof,
right? And so, if you're crossing a
border with something, just because it's got a huge value,
but it's Basically weightless, you know the the the whole
threat that that represents is completely imaginary, right?
You'd have to liquidate the thing for the currency.
It would be the local currency if you were liquidating it.
Anyway, so it's a completely imaginary threat to that
economy. It's not like you're Crossing
with, I don't know, Apple, maggots and infecting their
local Orchards or something. You know, there's just nothing
there that's going to be problematic.
If you're a dual Citizen and you're moving into that country,
you liquidate it for their local Fiat.
This thing of high value you're going to pay tax in theory on
the liquidation into their local Fiat.
So I mean it's just obviously they want to prevent I guess
terrorist financing or the all this money laundering and all
all this stuff they want to come somehow I have on an
international scale. This ability to track flows of
assets across Borders or Something but it gets into a
zone of just Ridiculousness. So yeah they they can't fight at
all and then there's a right way to do it in a wrong way to do
it. Absolutely.
It just the existing regulations become unenforceable on, you
know and then just kind of add into the mix Opti.
Let's skip the mean review today because it's a good conversation
will go straight to the software release but The, the the laws of
old just become unenforceable under a Bitcoin standard, right?
The, I think that when more and more people wake up to the fact
that, why am I earning and dollars?
Doesn't make sense. Why am I, why am I turning in a
money that's constantly being devalue?
Why is that the only thing they really have on us?
And that's until Bitcoin starts to get into the very, very high
numbers. And then you'll start to see
less and less volatility is that they could make the case at this
moment in time, is that in the short term Fiat provides better
stability than Bitcoin and stability it.
When it comes to pricing things is pretty important, right?
Because if not Have to change the things all the time, Bitcoin
is pretty volatile but the thing is if you start zooming out on a
23 year, timescale Fiat goes down Bitcoin goes up like that,
right? So I mean that's really the only
thing they have left. That's the only thing they're
clinging onto and there is actually a Fed tweet.
That was literally talking about how Bitcoin was too volatile,
but if you even use their own metric and you zoom out, you
know, it even with their metrics, you can call bullshit
with their tools. Tools, right?
That the one where they were pricing eggs and SATs, yeah,
exit SATs and then, dude, and then they got absolutely
wrecked, right? So, but ya gotta respect that
they didn't turn off the replies.
I mean, at least they, there's a there.
So disconnected and like, look, let me literally let me pull it
up, check this out. This is priced in Bitcoin, one
of my favorite, I love sets, I love that, right here's eggs.
And this is what I was talking about, right on a year basis.
Yeah, maybe you're right, it's too volatile, right?
But I Your bases eggs are 27 percent cheaper on a five-year
basis. Eggs are 74 percent cheaper.
This is with all the inflation. This is with all the money
Printing and this is still with Bitcoin, 70% down and eggs are
still 75 percent cheaper. And that's why Bitcoin is the
best savings technology. The world has ever seen.
And the real irony of that is there are hardly any Bitcoin
denominated zones in the world. So by their own definition of
price level inflation, deflation So they cause the price of
Bitcoin to go down. Well, there are hardly any
Geographic zones that did nominate goods and services in
the real economy and SATs. So so they could say, oh well
those areas now have inflation. Which area is there are hardly
any right and this and even El Salvador is not really dumb and
it's not really sad Stu nominated.
El Salvador is, is a dual currency country.
It's mostly dollar-denominated. Still, that's why they did it.
They did it because it was because their dollars got
stronger, you know, they didn't have their own, they didn't
control their monetary policy. So that's exactly why they chose
something like Bitcoin. But anyways, Opti let's move on
to the South Ever news. Bitcoin software release,
brought to you by Cipher safe, don't be that person.
That stores their Bitcoin seed on paper paper is prone to water
damage, fire damage, dog attacks everything your seat could be
eaten by dogs or cats or animals.
If you store it on paper, you definitely want to store your
seed on steel and there's no better place to do it.
Then the cipher safe, get yourself a Cipher wheel or
Cipher grid today. Visit Cipher safe, dot IO.
All right guys. Well I'm just as disappointed as
you are that we didn't get to the mean review but I will add
extra memes tomorrow. Anyways, we got start9 Labs,
Embassy, OS version, zero point three point, one point one.
Let's see, what are some of these changes is Docker?
Stats fix updated back, independent, fix receipts,
hell's return. Correct are.
I'm not going to read all this because you can see it.
This is a big big update if you are using Nine Labs update your
node guys. I've heard really good things
about starting on Labs. I'd like to, you know, to play
with one anyways. Go listen to us on the Apple
podcast on Spotify on anchor and we are on anchor app.
If you are in the valley for Value economy and you think
we're providing you value day in and day out, stream of some set,
we appreciate it. Anyways, Nico.
We're an Extra long today so that's for all this one out.
Yeah the guys make sure to join no, it's not your fault joint.
Make sure you join our. It's just good conversation.
Make sure to join our telegram group.
The link is down below. We always put it down below.
Also want to give a very special shout-out to our awesome
sponsor. Represent LTD.com they make some
of the most comfortable Bitcoin merch like this, awesome hoodie.
Like the shirt that opt he's wearing.
He makes Bitcoin merch. He's making simply Bitcoin.
Merge definitely want to go check out.
Representing tv.com. And you can take advantage of
the promo, code down below to get 10% off, represent LTD.com.
I also want to give a very special shout-out to our awesome
guest. Alex, thank you so much for
joining us today. You had some, thank you for.
This is why I said in the very beginning.
I love inviting plebs that are unknown because they are always
going to say different things that you've never heard before,
right? And that's what this is all
about is Revolution, everybody. So Alex, where are my newest?
Chunky Avenues. Where can people find you?
So a, take a Kaufman. It's my middle initial is K on
Twitter. I basically during the pandemic
took my account and followed a fixed number of accounts,
although I rotate them. But if I'm following you, I had
some putting you on rotation, basically 4444 follows and then
I basically retweet kind of obsessively just a lot of
different content and and pin. Things that are related to kind
of my belief that you have to nominate and SATs watch certain
markets to nominate and SATs like the silver market.
I think is interesting signal so I pinned that picture from the
XE currency app a lot of times as my pin tweet.
I'm also working with satoshi's Journal right now and a few
other countries and companies in a sales and marketing capacity.
My My wife's employer, Martian, craft is a great iPhone app
development company. And my dad's company is a
parallax Financial research, which does amazing forecasting
work in traditional markets Trad, Phi and has its tools on
Bloomberg. So, basically, I just consume a
lot of news, retweet, a lot of news and really excited about
Bitcoin and excited about libertarian politics.
So hell yeah. Awesome.
Good stuff. Alex, thank you so much for
coming. Show.
I'm going to put you back stage. Give me a thanks for having me.
Let me wrap it up guys. That was another episode of
Simply bitcoind live. It ran a little bit long today.
I know just the conversation was so good.
The sauce was so good. Things are going flying all over
the place off. These camera turned off.
My power went out cause I'm in Puerto Rico, but we still kept
the show going. We tried to bring you the
signal, not the noise guys. It really helps us tremendously.
Only if you enjoyed this show, if you feel it, gave you value.
Definitely hit that subscribe button.
Don't forget to hit that like button and we will see you
tomorrow guys for a brand-new episode of Simply Bitcoin.
Which one's the best crypto asset will Bitcoins the best
crypto a stroke.