It's. All going to zero against
Bitcoin. It's going up forever.
If. You're against Bitcoin.
You're against freedom. If I owed you, let me try and
think. If I owed you 20 Taylor Swift
tickets, so this is could clip this, send this to your family,
this will be understandable. If I owed you 20 Taylor Swift
tickets, in theory I have two options.
I can either pay those back in full by giving you the tickets
or I could say I can't afford to pay that back and we call that a
default. Two options when you're in debt,
pay it back or default. And I say I'm so sorry, I can't
actually pay that back. Now the government has a third
option. They can actually devalue and
debase the thing that they owe by printing money, right?
So if I could say, well, Taylor Swift tickets at one point were
like $20,000 a pop. If I can make them $2.00 a pop,
I can pay you back 20 Taylor Swift tickets no problem.
I'll just devalue what they're worth.
And so the US government has a third option, which is printing
currency, debasing the currency, and that's their only way out.
So they, the US government cannot default.
That is not an option, right? And they also can't pay it back.
Debt to GDP in the US is almost 130%.
Global debt to GDP is well over 300%.
So that is the amount of debt they have versus the amount of
growth they're producing to pay that back.
Paying it back is not an option. Defaulting is not an option.
So anyone listening, what's the only thing they can do to value
the thing they owe? Print money to base the
currency. What's the scarcest thing in
human history? What's the best performing asset
in the last 15 years? What is the best expression of
currency debasement? What's a put option on the
existing financial system? What is long volatility?
How do you monetize this chaos? You buy Bitcoin.
That's been my macro thesis from
day one, and that's my Taylor Swift analogy.
Bam, clip it. Good morning.
Welcome to Simply Bitcoin as our new phrase is tomorrow's Bitcoin
news. Today I'm your host Opti, and we
got a jam packed show for you. And I really enjoyed this cold
open today because one of our main things doing here on the
show is trying to explain to people, the average person out
there, the problems going on in the world.
But it's becoming very clear that most people either don't
care about inflation or don't understand inflation and shouts
out to Jack Mahler's again, always doing his best at
explaining Bitcoin, explaining the financial problems that we
find ourselves in, in very simple terms.
Of course, he's using this Taylor Swift example, which
probably catches on with a lot of normies out there, You know,
shouts out to the people out there that, you know, I, I don't
want to just talk too much smack about them, but they're asleep
at the wheel or really just don't care and caught up in all
of the crazy things going on. But it's becoming very clear
that the US government has a huge problem.
Everyone knows probably by now the US is in $35 trillion in
debt, literally adding a trillion dollars to the debt
every hundred days. Now, also with that, we have, I
think, exactly not the correct number, but over $218 trillion
of unfunded liabilities, which is why Jack Mahler's explained
to people in very simple terms that there's no possible way for
them to pay this back. This is why you're feeling pain.
This is why inflation has become one of the big topics right now.
There is no possibility of them getting out of this position
except for basically two or three things like Jack Mollo
just saying they either default on their debt, which they have
done, you know, arguably twice in the past, or they just
continue to print more money or basically just tell you to just
suck it up. And This is why we Bitcoin, This
is why all of us as Bitcoiners continue to talk about Bitcoin,
continue to explain to our friends and family that there's
only one way out of this. And this is to save in Bitcoin,
protect yourself in Bitcoin. And this is one of the
fundamental messages of our show that there is no political
solution to this. The only solution to this is
simply Bitcoin. You saving in Bitcoin, you
protecting your wealth in Bitcoin, taking it into cold
storage, taking it into custody. This is the only way you're
going to get out of this. You can't expect someone out
there to help you get out of this because as we've constantly
been shown, people in power will abuse your trust, and This is
why we're in the position we are in today.
Anyways, enough with the opening ramp.
As you can tell from the title, we did get a very good clip that
just dropped on Twitter about Michael Saylor.
This did happen in Nashville at Bitcoin 2024, but he explains
the three things that need to happen for Bitcoin to go and his
word 100 X from here. And the TLDR is we're pretty
much already there. Like we we've already set this
in motion. So so it really, in my opinion,
points to the idea that 2025 leg up in the next bull will
probably be a magnificent, glorious bull run.
I know we're all sitting here like man, 58K gang, bro, like
why, why did you curse us the 58 K?
We, you know, yesterday everyone's like, oh, we broke
out of 58 K. We're never going to be back at
58 K. And yet this morning we're back
at 58 K. So everyone go blame Dennis on
Twitter. But it still means one thing.
Bitcoin is at a, you know, stable price right now.
So cheap sats before we get this next leg up in the bull run.
But in the clip, Sailor does say something very, very telling.
And This is why I do want to cover the rumor mill that we've
been hearing going around Twitter that apparently the
Kamala Harris campaign or administration is rumored to tap
on Gary Gensler to be Secretary Treasury, which would be
absolutely detrimental to the Bitcoin industry.
As we've seen he wasn't very happy about releasing a Bitcoin
ETF. They basically slow rolled this
as much as possible. So more signals, of course, this
is rumor, but if it is signal of what's going to happen, it just
goes to show that the Harris administration will not be
friendly towards the Bitcoin space.
Of course, we've been trying to give them the benefit of the
doubt, but more signal, more, more receipts on.
This is just a lot of talk. And again, we try not to get
political. We're bitcoiners here.
We care about the adoption of Bitcoin.
We don't think there's a political solution here, but
it's becoming very telling that one side of this election is
anti Bitcoin and the other side is senior pro Bitcoin.
So it's becoming a very clear choice for most Bitcoiners out
there. And to everyone that's in
disbelief, the writing's been on the wall.
We've been covering this for a long time on the show.
Anyways, I am not alone today. Nico did have a flight that got
delayed, so I'm handling the duties today.
But we got a Opti and Obi takeover.
We got Adam O'Brien on the show, of course, CEO, founder of
Bitcoin Well, one of our sponsors, one of our partners
absolutely love when Adam comes on.
I mean, we've been joking for a while now that we need to do a
simply Bitcoin Well takeover. This is our show now, you know
Nico. Yeah, if Nico's watching this,
like, I mean, he's done. Like, thank you, Nico, for your
service. It's Opti and Adam day now, and
we're good to go. Off we go.
Let's go well, super exciting also also in the culture, of
course we're going to be talking about Bitcoin.
Well, but Adam, bro, I just we were talking about it yesterday,
dude, you are a can I say yes, you're a financial criminal in
Canada just because you're a. Bitcoiner financial terrorist.
Financial terrorist. Sorry, sorry, financial.
Terrorist, incredible, beautiful free country that I live in
yeah, man, it's wild. I we, I'm happy to dive into
some of that. It's like when people hear what
I like my banking situation and what's going on, they if they
are Bitcoiners, they're like, holy smokes, I understand why
you're a psychopath and I'm here with you.
And when they're not Bitcoiners, they're like, oh, obviously
you're lying and you've done something wrong and the
government is right and govern me harder, Daddy and Adam,
you're a bad guy. And it's like, well, you know,
I'm not and my stay at home wife is not.
And she's also debanked. So definitely yeah, man.
Happy to dive into it. Yeah, we're, we're definitely
going to cover that. And then of course, we're I'm
going to, I'm going to goad you a little bit and hopefully get
some leaks on Bitcoin. Well, because I know what's
happening behind the scenes and, you know, I want to expose the
audience to it, but I know, I know things are in motion and
you probably can't talk about some of them.
But on, on that note about your wife, yeah, can confirm she's a
sweetheart. Far from a financial terrorist.
But hey, you know, with your banking system up there in
Canada, it's a, it looks like everyone's a terrorist now.
Absolutely incredible. If you don't play by their
rules, you are terrorist and they have full opportunity and
will absolutely kick you out. In fact, yeah, it's getting
crazy. I won't dive into it yet.
We'll. Talk about the culture We'll
talk about the culture. Let's let's talk about our our
leading sponsor here, which is of course Bitcoin Well, the best
place to buy Bitcoin it's literally self custody by
default, which means you need to have a Bitcoin wallet and
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This is what you have to do. You want to ensure that you hold
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pulled buy real Bitcoin go to bitcoinwell.com.
You can use a promo code simply BTC and Adam, I am going to put
you on the spot here, bro a little bit put you on the spot
on the Bitcoin well rewards because the last couple of days
it hasn't been working. So James and you guys need to
figure this out here's. Here's what we got to do.
First things first. I don't know how many normally
you guys do, but we should do more today.
And it's because there's so many freaking people that play this
game that it just like it crashes.
And when it crashes, I want you to think about this.
When it crashes, it's because more than one person is playing
it at the exact same millisecond.
In No. Part in my mind, I think there
would be two people playing this game in the same millisecond,
not the same second like you can't snap your fingers that
fast. You can't even snap your fingers
coordinated that fast. But here we are and so I think
that we should play until we get like at least more than 500 but.
OK. All right.
Well, guys, as you know the deal, get your Lightning wallets
ready first come, first serve. You get these sats, you got a
chance to win up to 1,000,000 sats.
I know, I know. No, I'm like, I was going to
try, but I know Adam's rigging this to only he wins a million,
but he's not he's not. I'm just trolling.
I've.
Won a million sats like 7 times. What are you guys?
OK, again, of course. Oh, wow.
There we go. All right, First come, first
serve, 21,000 sats. I think that's the highest we've
gotten on the show before and now you know.
I hope Aaron James in the chat gets it because this guy's got
like some serious he's he's pretty butt hurt and doesn't
seem to like me. So I hope Aaron James, I hope
that you I hope that you get some free stats today, buddy.
And you know, you should just like just, you know, touch grass
and and and be well, amigo, be well.
Everyone give Aaron James a nice shout out in the chat.
Give him some love. He's having a bad day.
He thinks my stay at home life that mother's my four beautiful
children is lazy. He thinks I'm fake.
Wow, really having. A hard day.
Wow, OK, OK, I can't I can't follow the chat, but sheesh.
All right, guys, you guys just won 21,000 Sats love to see it.
OK, let's get into the show because we do have a lot to talk
about today. Coin numbers.
Man, that intro so quickly. Anyways, go to stampse-ed.com.
Make sure you are stamping your seed into titanium.
Do not leave your seed phrase on a piece of paper.
How are you going to explain to your grandchildren they're going
to be Grandpa Paul Azniko? He says why did you lose our
generational wealth? And you're going to be like,
because my dog ate my seed phrase and I wrecked ourselves.
Make sure you are securing your seed phrase for the long term.
Put it in something that is indestructible like titanium of
course, if you go to the site use promo code simply and you
get 15% off all right guys let's get to the numbers I'm over here
on Clark Moody's dashboard, of course, the legendary dashboard
and you know Nico's doing all the numbers, but I'm I'm I'm
just stealing my numbers to basically the only numbers
anyone cares about for for better or worse.
These are the only numbers I think you guys care about or
rather the average you know Bitcoin enjoyer that isn't a
hardened maximalist is probably just like I I just don't really
care about all these numbers. They probably don't even know
what most of these numbers are anyways the Bitcoin price shouts
at the dentist and 58K gang is currently at $58,980 which means
the SAT's per dollar which means how much Bitcoin you can buy for
a single dollar or the price of a dollar in Bitcoin is 1695
SAT's or for the bits Maxis I have I haven't stirred the pump
Maxis 169 bits and the block high I I would argue the most
important number in Bitcoin TikTok next block Bitcoin works
exactly as designed. Yes the Bitcoin price fluctuates
but there is a new block roughly every 10 minutes and we are
currently at 857,647. The market cap in Fiat terms, in
dollar terms is $1.16 trillion and the Bitcoin risk gold market
cap is only at 6.71% of the gold market cap, which means there's
still a lot of room to run in the hard money gang.
All right, as I was telling you, there is rumor mills going
around right now. And the reason I wanted to cover
this in the numbers because it really Tees up what we're going
to talk about with Sailor in the news.
And so there's been long, long hinted rumors that a lot of the
things that Gary Gensler has been doing is to position
himself as becoming the next Treasury Secretary of the United
States. Obviously, you remember what
Trump said at Bitcoin Nashville, where he did the like, I'm going
to fire Gary Ginsler. And everyone's like, yeah.
And he's like, whoa, wait, you guys love that.
Like, OK, well, I'll say it again.
I'm going to fire Gary Ginsler. And I was like, yeah, So you're
seeing at least the rumors going around and we will kind of dive
into the rumors a little bit. But potentially, or at least
this was going around. This is from Washington
Reporter, which technically is like a center right platform.
So we will dive into what that might mean.
But apparently scoop Kamala Harris likely to nominate Gary
Gensler as Treasury Secretary if elected, says Senate sources.
So here, let's dive in a little bit.
And then I really want to read the Block article because I
think it adds a little more salt to our rather the texture to
what we're talking about. While publicly the SEC Chairman
Gary Gensler hasn't expressed desire to leave his current
role, multiple senior Senate staffers are telling the
Washington Reporter that if Vice President Kamala Harris wins in
November, she plans to nominate Gensler as her Treasury
Secretary. Those rumors corroborated what
top Republicans have also told The Republic.
The Reporter on the record and in a report with interview with
Reporter Representative Tom Emmer previously warned that
Harris may pick Gensler or Senate Elizabeth Warren, which
we all know Warren stance on Bitcoin.
She's leading the anti crypto army, which of course, if these
rumors are true, would be detrimental to the Bitcoin
industry in the United States to serve as a Treasury Secretary.
And like he says, you know, such a move would be a disaster for
the economy. Gensler, Emmer said, has been
bringing lawsuits all over the place and losing all over the
place that times past. Gigi needs to move on.
His career in government should be over.
Okay, let's go into the block article and their coverage of
this. So most of this is basically the
same the same coverage as the report, but there is, you know,
some speculation on whether this is just rumors or whether this
is coming from the Republican camp to basically garner more of
the pro crypto voter base. And so I think it's very, very
interesting. On the one hand, it does make
the Harris Walls administration not be very favorable for us
Bitcoiners and of course they're buying for roughly around 50
million voters in the USAAKA. The amount of people in the US
holding Bitcoin, whether that Bitcoin in crypto, it's a huge
voter block. So there is some skepticism on
whether this report is real. Of course there is Caitlin Long
who says that this I'm skeptical of this.
It could have this the rumor could have started and he was
considered for the cabinet position to mess with all of us.
But again, also Bloomberg Intelligence Eric Balkanis.
I think this one might be the most telling said that I could
totally see this is made-up rumor if you are Republican and
you wanted to help shore up the crypto vote.
Hard to think of anything more powerful than giving people the
visual of Gensler having even more power if even if it's not
true, it's potent. So do we know?
No, this is just a rumor mill, but I think it's very
interesting to cover considering what we're going to cover with
Saylor in the news that it's it's it's you know, I I hate to
do. There's no coincidence meme on
you guys, but it is very telling that this news comes out at this
time, considering that there is a very pro Bitcoin or pro crypto
stance coming from the Republican Party.
And as much as there's been a push for a what Crypto for
Harris campaign, excuse me, and a lot of Democrats talking about
like, look, we don't want to hamper the Bitcoin industry.
It has seemed like a lot of talk.
There's been a lot of things that we've covered on the show,
which makes us very skeptical of anything coming out of the
Democrat Party in regards to Bitcoin.
And if this is true, of course, this would be another, another
very, very bad take from the Democrat Party in regards to
their view on Bitcoin and crypto at large.
Obviously we're Bitcoiners, but the fact if this is true, that
would this would be horrible for us in the United States.
There is been rumors for a long time that Gary Gensler has been
vying for that position. Nothing publicly has came out,
but I think it's very interesting to see this rumors
and and like Eric Volcano said, you know, Bloomberg
Intelligence, if this is a play of just stirring up stuff, it is
it is a pretty potent move here because all of us bitcoiners are
like, yo, Gary has not been good to the Bitcoin industry.
He begrudgingly released the ETF.
He slow walked this whole movement.
And we also know he you know, he he applied to work at Coindesk.
He did an MIT class on Bitcoin and blockchain.
Like he should know better than this.
And it's very telling, at least for us bitcoiners is like, OK,
who who are you playing cover for Gigi?
Like who is really pulling the strings right now?
Because if he understand Bitcoin, like his class, you
know, would seemingly represent, he's not doing what's best for
Bitcoin or even the people he's supposed to be protecting.
Like he's not protecting investors.
He's he's actively, I would argue hurting investors.
But hey, you know, I'm biased. I'm a bitcoiner.
Anyways, Adam, what is your thoughts on this rumor mill?
Dude, we're seeing in real time this duopoly government
democracy system in the US play out horribly.
We're seeing Gary take a massive bet throughout his career and
then now into like what is probably the late stages of his
career. We're seeing him gamble and bet
this legacy on the fact that more control, fewer people
controlling more people will be better for him politically.
And we've seen this throughout his time in with in the SEC.
We're seeing him on this crypto brigade.
And making it very, very hard for for Bitcoiners to do
Bitcoiner things. And I think it's just political
posturing. And this is the result of the
duopoly that we have. Even the rumor mill, even if
this is made-up, which I think it's quite likely that it is, it
sucks that we as the citizens are in the dark about a country
that we are supposedly voting and supposed to be like,
informed upon. It's crazy to me that we have
this guise of freedom, this guise of power in our
democratic, constitutional society.
That just isn't true because there are rumors like this that
no one's confirming or denying and we have two sides of the
aisle only imagine, like, think about what happens in the world
when there are only two choices for anything.
If there were only two car manufacturers, cars would be
like 50 times more expensive and like 80% worse if there were
only two phone manufacturers. Same thing for phones.
You know, we see what happens in Big Pharma.
We see what happens in Big Food when we have duopolies.
Things get worse for the people. Garry's playing the duopoly to
his favour, obviously. It's like immoral.
Opti and I were chatting before the show about like the the
recent scamming a scammer video that came out and talking about
how the world is like just moral less and how it is right now in
this Fiat world. It is more high time preference
fruitful to be scamming people and Gary's embodying that and I
think that at the end of the day ultimately will be the citizens
that suffer. I like what you said though.
Bitcoin is a political it actually doesn't really matter
which side of the aisle gets voted in, which color, what the
color of the tie is in November. At the end of the day, all that
it means is you will have to pick up your stack and go
somewhere else. That's going to happen
eventually, either to you or your grandkids or your great
grandkids. Somewhere down your bloodline,
your country will become inhabitable.
All you can do is work hard, stack stacks and stay humble.
And I think that if we keep that in mind, we can take a breath,
You know, the few months leading up to November are going to be
more like entertainment news then like, holy smokes, my world
is going to hell. And I don't know what to do.
And I think that that's an in lifting, you know optimistic
type of type of look to habit it.
Well, it is an election year here in the US and I, I did
wait, did you say the. US or the whole world?
Because it's kind of the same thing.
Yeah. What other countries are there?
I'm glad, I'm glad that you, as a Canadian, finally agree with
me that only the US matters. But you know, I'm trolling here.
I'm trolling here. But no, I I did watch the DNC
platform last night and as you can tell it is an election year
and there is a lot of fear mongering.
And so I think it's very important to kind of double down
on what you just said, which is like, once you understand
Bitcoin, once you find that Bitcoin Zen, like you don't have
to worry about the fear mongering.
You're like, look, I'm protecting myself.
All I need to do is work hard saving Bitcoin and, and things
will work out. Obviously life is volatile.
We don't know what's going to happen in the future.
We can't predict what's going to happen.
But what you can do is take action today, which is obviously
saving Bitcoin, take it into custody, make sure you're
secure, make sure you're fit mentally, you know, unplug here
and there. They're like, these are the most
important things to be doing exactly touch grass.
These are the most important things to be doing.
Anyway, before we get into the news, guys, there's about 1000
of you guys watching like subscribe, share this video.
It really helps us in the algos. We got a whole packed show for
you guys. So let's get into the news for
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foundation use a promo code simply all right guys, So as I
was telling you, we got this clip coming out from sailor.
It looks like a fireside chat. This wasn't on the mainstage.
This looks like it might have been some kind of off.
That was this one. This was backstage, yeah.
It was a backstage 1. Yeah, yeah, him and and RFK went
backstage too, which was super sick.
Yeah, so we finally got this on Twitter, which was, you know, a
backstage fireside chat with Sailor.
It finally hit the the Twitterverse and we've been
covering this for a while about what needs to happen for Bitcoin
to really be unleashed for, for Bitcoin to really mature and be
looked at as a, you know, quote, UN quote legitimate asset in the
eyes of everyone on planet Earth.
And so first of all, guys, I did clip this because it's a six,
you know, almost 7 minute clip. So I, I shortened it, I
truncated it. But if you want the whole clip,
go to our Twitter account. Of course, simply Bitcoin TV.
It I did, you know, I, I had to clip it and I had to speed it up
to 1.25. So, you know it, it's not too
fast, but you'll get the, you'll get the, you'll get most of the
message. But there is some stuff and some
signal in this that that I did have to drop out just in, in,
you know, got. That that Gen.
Z brain that can't handle the. No, no, it, it, it's, it's
really more for the show and I think it's for like copyright
things on YouTube. You know, there's, there's
there's parameters we're working in here.
So I got the bulk of this, but let's just touch on this and
then we'll kind of cover some other news that's happening.
I take that coin out by 100 X from where it is today.
The first thing is to legitimize and accept and endorse it as an
institutional grade asset. So, so fair regulation of the
asset itself in the securities industry.
And in January we got the first installment of that with the
approval of the Spot Bitcoin ETF.
But it was an incomplete, an incomplete regulation because
the SEC still denies in kind creation of ETF shares and the
the SEC still denies the ability to trade options on top of spot
Bitcoin ETF shares. And the acceptance was given
grudgingly, you know, out, you know, it was basically, I did it
because I had to do it, but I didn't like it.
OK, so, so what's the significance of that?
The negative opinion expressed when it when the approval came
that sits as a shadow over a lot of mainstream investors.
We need to flip from a negative opinion to at least a neutral
opinion. Like why?
Why is it that a federal regulator isn't expressing an
opinion that this asset is good or bad versus that asset?
So, so I think that that's got to change.
Still, the 2nd plank is fair accounting.
If I wanted to keep you from buying anything, I would
establish an accounting rule that said you can only lose
money on the trade, but you can never make money.
And, and that's a one way ratchet.
If I actually set up an accounting system where you, you
always lose, you never win. And if you win, you have to act
like you lost. And then if you lose again, you
can win 99 times, but the 100th time you lose, you report one
loss, no wins. OK, That's just prejudicial and
hostile. OK.
So indefinite intangible accounting allows you to lose
but not win. And it's the kind of accounting
you give to things you don't want people to buy.
And so fair accounting was critical.
And this January, it became optional.
And next January, it will be mandatory.
And so that's the that's a big step forward.
And then the third, the third is we if, if individuals aren't
allowed to self custody, that's hostile to Bitcoin.
If I passed the law saying you can't custody, that's that's an
attack on Bitcoin. If companies can't self custody,
that's an attack on Bitcoin. If if I had a company whose job
was to provide to sell custody services to institutions, if I
provided custody to Yale Endowment or to a big hedge
fund, and then if the government had a law that made it illegal
for the custodian to provide custody for your asset, that's
hostile. So right now, Saab 121 is a rule
that basically makes it impossible for a bank to custody
Bitcoin. And the right way to look at it
is, well, that's basically a regulation preventing companies
that went to custody from custody.
And so the result of that is you have basically the government
saying, I guess you can buy the ETF, but the ETF is not allowed
to use their bank to custody the Bitcoin and they can only use a
crypto exchange to custody the Bitcoin and we're going to sue
the crypto exchange. And so when you have the
government hostile to the crypto custodian, hostile to the banks,
hostile to the institutional custodian, you're kind of you're
undermining the ETF industry and you're undermining the asset.
So the Third Point is we just need for the SEC, the OCC, the
FDIC to allow banks like JP Morgan and Citigroup and
Goldman. But by the way, you might like
not like JP Morgan because of what the CEO has said.
But let me guarantee you that within a year or two years of
when it's possible to custody Bitcoin, JP Morgan will start a
process to do that. And within four years, they'll
be custodying Bitcoin because it's money and that's what they
do. Love it, love it.
All right, so just kind of recapping some of this stuff,
guys, as we know, you know, the Bitcoin ETF approval was a big
deal for Bitcoin, even though it seems like the price has just
been going sideways and everyone that's watching the Bitcoin
price is like, why are we crabbing?
You know, shouldn't we be at 100K or a million Bitcoin right
now? Well, again, as I've been saying
for a while on the show, once you understand even some just
basic mechanisms of how the traditional financial world
works, they don't, they don't move as quickly and
legitimization comes slowly in regards to what everyone's
talking about at these institutional asset manager
offices. But we're getting to that point
now as we've been covering, there's been pension funds,
there's central banks around the world, there's corporations that
are taking Bitcoin into custody or rather adding Bitcoin to the
balance sheet or rather just the ETF.
There's retail. I would not argue we're at
retail FOMO yet, but there's more interest in retail.
The corporate press is talking about Bitcoin.
You're seeing that there is a perfect storm building up right
now in regards to quote UN quote legitimizing Bitcoin.
So as the first point was, you know, we're probably, as Sailor
said, if you watch the whole clip, like at 75% of the
legitimization of Bitcoin as an institutional asset.
The second point is he's talking about the Fazbee ruling, which
change at the very end of last year and was optional as Sailor
was saying in the January of this year.
It's going to be the de facto rules going into January of next
year, which basically means there's going to be floodgates
opening up into Bitcoin. And then once, as Taylor was
saying, once we get basically these corporations of claiming
mega $1,000,000 bullish positive results on their balance sheet,
that signal is going to permeate and more people are going to
wake up to this. And of course, as we've been
covering on the show all of last year, or rather the end of last
year and the beginning of this year, basically all of this
year, we've been covering these constant attacks from the Biden
administration on Bitcoin. We've been covering Elizabeth
Warren's anti crypto army rhetoric.
Basically, remember what they were talking about taking your
Bitcoin into custody, you know, self hosted wallets and how
they're trying to demonize the whole industry and how they're
saying, oh, this is so bad and we can't allow this because of
my financial terrorism and you know, my money laundering and
all this stuff. Well, that has stopped these
corporations from adding Bitcoin to the balance sheet.
If you understand any of the mechanisms that Sailor had to do
for micro strategy to add Bitcoin on its balance sheet.
They had to go through so many obstacles, so many hoops to just
make it happen that most companies don't have the time to
do that unless they are, you know, a full blown Bitcoin maxi
like Sailor. Well, now we're having
basically, except for the last one, all of these things are
playing out into a perfect storm, hence why I really wanted
to cover that rumor of Gary Gensler potentially at least
being rumored to be the Treasury Secretary in the Harris
administration. If this plays out, then that
last Third Point is going to be an even more uphill battle.
If Trump gets in the office and actually follows through on what
he says and fires Gary Gensler, hopefully he's not going to, you
know, add him for Treasury Secretary, which means that we
potentially should have very, very favorable industry for
Bitcoin in the US, which is a very bullish thing.
Either way, you can take the the Harris administration is more of
an acceleration. If you hear like either way, the
politicians doesn't matter. Bitcoin will succeed, but we
might have an acceleration camp of four more years with Harris
or we might get some favorable cover with Trump as or the
Republican Party getting power in the US.
But all of these things are playing out in real time.
And these three things, as Taylor was saying, are going to
take us to 100K Bitcoin, or rather sorry, 100 X jump from
here to what's that, 5.8 million Bitcoin or something.
I don't .8 million, yeah. Exactly.
We we, we don't have a time frame on this.
But as we know, as the memes go, it's going up forever.
Laura, 21 million Bitcoin hard cap money with, you know,
everything divided by 21 million.
There's only one way that Bitcoin can go.
As we all say all the time. It's either going to 0 or it's
going into the millions. Do we know when that's going to
happen? Is it going to be 4 years from
now? Most likely not.
But like, if you're young like us, you got enough time to just
stack as much Bitcoin as possible.
It's going up for a long, long time.
Anyways, Adam, jump in here. What?
What's your thoughts on this? Matters not to Bitcoin, only
matters to the USAI. Don't think that I can emphasize
enough that the reason Bitcoin is not 100 X yet is just because
it's not like the stock to flow hasn't hasn't said it.
To be, well, maxi. I'm not stuck to flow Maxi, but
I do think that Bitcoin will do what Bitcoin does regardless of
political policy or inflows or whatever.
It's all about the base supply and demand economics of Bitcoin.
The demand has increased whilst the supply is decreasing.
When we're talking about like, what is Bitcoin?
The, the, what is it the eighth most valuable asset in the world
at this point when we're talking about an asset of that size,
like frankly, and this is going to be shocking for Opti and all
the Americans in the chat, your country doing ETFs doesn't
matter that much. Facts.
We've got, you know, Metaplanet adding a bunch of stuff in
Japan. Like no one's wondering in
Japan. Like, whoa, what's going on?
We have one public company pumping their bags full of
Bitcoin. Why isn't Bitcoin mooning?
It's like, yeah, because your company doesn't matter that
much, because your government doesn't matter that much.
Because, you know, a couple of like we got what what is it?
Bitcoin treasuries.net or whatever that website is.
There's like a couple 100 companies that own Bitcoin.
That doesn't matter. Think about the big scheme.
Think about how big and giant the world is, how massive the
world economy is, how massive world assets are and world
markets are. And you realize just how small
these like micro decisions, while they're massive inside of
our Bitcoin echo chamber and inside of the Bitcoin bubble
that exists like on this little tiny continent here.
Let's like zoom out a bit guys and understand that Bitcoin is
going to do whatever Bitcoin does because it's Bitcoin and
it's rules, but no rulers. And when we try to install
rulers, you know, whether it be Sailor or whether it be Gary or
whether it be Kamala or Trump or RFK or politicians or, you know,
any other person, rulers don't matter.
Bitcoin doesn't care about your ruler and it only cares about
the rules. And the rules dictate that
Bitcoin is going to increase at a gradual basis from here until
the end of time. As long as human beings produce
value and as long as that value needs to be stored and locked in
a protocol, Bitcoin will increase in purchasing power.
And I hope, I hope we get to a point where Bitcoin doesn't
increase in purchasing power because it'll mean the guise of
inflation will mean the lies and the theft of inflation have
disappeared and the world is just acting in a symbiotic
healthy relationship with its people.
And I think that that's like the most beautiful outlook we can we
can search for hundreds of years from now.
In the meantime, Bitcoin going up means pain and suffering to
all of the normies, all of the people that don't have any
stacks yet. Let's put our efforts instead of
whining about 58 K, put our efforts towards, you know,
getting people off 0 getting them stats in self custody,
because I agree with Saylor, You know, attacking self custody is
an attack on Bitcoin. It's an attack on freedom, but
it's an attack on the people. I think I saw in the chat
someone said it's a it's a declaration of war on the
people. Like in what world does it make
sense to say you can own an asset but you can't hold the
asset? Like this is like this is
slavery type of mantra. And we have to work hard to make
sure that people understand how to self custody.
Like I run a self custody business.
It's hard. Lots of people do not understand
the benefits of self custody yet we got a lot of work to do.
This is why I don't like the acceleration is camp because
it's like we have so much work to do.
Walk outside, go to your barista and ask her, Hey, have you
secured your seed phrase properly?
And she'll look at you like what I own some ETH in in a coin base
account. It's like we got a long way to
go before we got a globe and A and a lot of people across the
entire world buying Bitcoin. Only when that happens will
Bitcoin like functionally and and properly moon.
So I think that yeah, as far as I'm concerned, I love 58K gang,
the chap stack, cheap sats AT58K gang and knowing that hopefully
my grandchildren benefit from 58,000,000 gang or 5.8 million
gang or whatever it is. But like guys, I also remember
$58 gang and I remember like 580 gang.
I'm like dude, Bitcoin sat at 273 Canadian dollars for months.
273, not 272 and not 274. It was $273 for months.
And I had this same thought. It was like the meme, right?
Like poke it, do something like what are you doing?
Be volatile, be fun, be exciting.
Like dopamine, please. I need some dopamine from green
charts. It's like when you remove that
from your Bitcoin strategy and it's just like, stack what you
can spend less than you stack. The charts don't matter so much,
you know, and you get to breathe a little bit easier. 100% I
mean, boring in Bitcoin is good like as much as we do talk about
like, oh man, why isn't the price dude?
You know, we all want the dopamine, but as we say all the
time, you know, Bitcoin is the stable coin and it's at once it
goes sideways. You know, one day it will
probably get to this point. Obviously it won't be at 58 K as
far as we're concerned, but at a certain point, there will be a
time where Bitcoin only really increases by what total world
GDP of our output of the world and it'll pretty much be stable
at that point. And This is why we are super
early. And then I really want to circle
back a little bit because there, there is something that I wanted
to say and I'm, I might have, I'm blanking if I said it or
not. I'm going to say it now.
Anyways, in the, in the very beginning when I played that
Jack Mahler's clip and he was kind of talking about inflation
for, you know, in terms of Taylor Swift tickets, like it's,
it's becoming very clear. I, I definitely did say, but I'm
going to reiterate, it's becoming very clear, at least to
the average population, that they either don't care about
inflation or they don't understand, understand that
inflation is happening. And it really goes to what you
were saying as well in regards to Bitcoin that like most people
still have no idea what Bitcoin is.
They don't know the best practices of Bitcoin.
And so as much as we can kind of Joe control about like, you
know, everything's good for Bitcoin.
It's like accelerate, accelerate, accelerate.
The network isn't really there. We aren't there to scale to 8
billion people yet. We do need a slow, slow adoption
rate here or else things could get very ugly for a lot of
people and we're trying to avoid that by as much.
You know, casualties as possible.
I think that it's like a good nod to how successful Bitcoin is
and how it will continue to be. The fact that a very small
minority of people actually know how to use Bitcoin and it's got
a $1.16 trillion market cap is insane to me.
You think about like all people in the world know how to hold
gold and they know how to like have gold in the hand.
Probably like I'd say 50% of those people could authenticate
gold. And then like, you know, it's
got its market cap. Think about how far Bitcoin will
continue to go once more and more and more people are
educated understand what Bitcoin is.
I'm so bullish on future generations, but like this
generation that we are currently in the meet space of 2024.
We got to understand this is not our party.
We're like we're the party planners right now and we got to
plan properly. We got to make good Bitcoin
based businesses. We got to help the Bitcoin
protocol. We got to contribute to Bitcoin
meetups and education. This is a call on society to do
more for the future generation, lower that time preference,
future generation style. Become the party planning.
What is what is the office mean? The the party planning committee
or the OR the committee to plan parties.
Just pick a camp and do it, understanding that like you
know, the Lambos aren't for you. You're going to get citadels for
your grandkids. Let's go.
Hold on. Thank you.
Well, on that note, because this is what we, we, you know, there,
there is something to Bitcoin that it does.
I don't know if it really just like rewires your brain, but you
start to think more like an entrepreneur and you run your
life more like an entrepreneur. And one of our favorite things
to do is of course, bring on dope Bitcoin entrepreneurs like
Adam. Of course, we only partner with
dope Bitcoin entrepreneurs to make sure that we push the
Bitcoin ethos as much as possible.
So we're going to talk about Bitcoin well with Adam, but
really we're going to get into some some very interesting
stories of Adam and being a financial terrorist in Canada.
Look at this guy. Look at this sweet smile and and
he's a criminal over here, rather terrorist, a terrorist at
this point. But let's get in the culture.
We got a a really good story for you guys, the daily culture.
All right, boys and girls, girls and boys, but mainly boys.
Make sure you stack friends who stack sets guys, as as Adam just
so eloquently explained to us, you know, it's very important
for you to take your relationships into meat space.
The most rewarding thing I have done in my life personally is
make sure that I am building a local community of Bitcoiners
that I'm basically almost only interacting with Bitcoiners
because if Bitcoin becomes or rather when Bitcoin becomes what
we think it will be, those who own the Bitcoin will have most
of the power. We have the best money in the
world. Therefore, you want to ensure
that you are building these relationships and and building
solid communities so that we can never get ourselves back into
this position again. Make sure each one teach one.
We are all nodes in the network. So go to orangecoapp.com stack
friends who stack SAT's and start connecting with people.
This is like one of the most important things to be doing.
OK, I'm going to tee you up on this, Adam, because you did just
share this. So I'm going to read your tweet
and then you can unpack this a little bit.
So here's Adam O'Brien on Twitter and he goes, Being
considered a financial terrorist in Canada is low key annoying.
The constant debaking has made it hard for me to live in this
country. That said, it also inspires lots
of the products and services at the Bitcoin.
Well, full cobra effect. So Adam, maybe get some contacts
here. I, I've heard this story before.
This is a new story about you guys getting the bank like
literally last week. But when we were hanging out in
Nashville, you were, you were telling me about, you know, the
fact that you've been debanked from almost all Bitcoin banks,
Oregon, rather all banks because of Bitcoin.
Your wife's been debanked just because she has your last name.
Like, maybe let's start from the beginning and then we can talk
about, like, you know, why you're a financial terrorist,
apparently. Yeah, dude, it's crazy.
It's like in in Canada we we have basically five kind of six
banks. That 6th one is like a blanket
group that people have different names under, but it all flows
through one. And then all those five kind of
all processing is done through one of two main like processors.
And so since 2015, I've been getting just like blanket
statement, you know, no, you can't bank here anymore, go to a
different bank. But obviously eventually I like
one of the banks to go to. And so from a personal level,
this has made it difficult to do things like pay my power bill
and like, you know, buy groceries and even the war on
cash. Like I'm obviously a pretty
heavy cash user. And I tell the story sometimes.
I think I've told you on the show before, I was like walking
down the street, the White Ave. in Edmonton where our office is
trying to buy a sandwich. The sandwich was like 13 bucks
or something. I had a $50.00 bill and they
wouldn't take it. They're like, Nah, we don't take
50s. Like it's too fraught or too
much fraud. I was like, what, like, how does
the guy live around here? Like, you know, it's, it's mind
blowing to see how we we're being funneled towards, you
know, we're being funneled toward in any state.
We're being funneled towards something that they can control.
However, I want to again point out, like the last bit of that
tweet, full cobra effect, yeah. Explain that to people.
OK, so the cobra effect is this notion.
So it comes from what happened when the British Empire took
over India in like, the 1600s, I think.
And at the time, the Indian citizens, the India citizens
were getting eaten by cobras, which was like, obviously not
that great. And so the British, the British
Empire came in and was like, OK, we're gonna put a bounty on
cobra heads. So, you know, you can go kill a
cobra, bring it to us, and we're gonna pay you just like, you
know, seems at the surface, like, pretty good.
But we then created cobra farmers and then created a bunch
of these, like, you know, kind of malicious entrepreneurs.
Entrepreneurs decided to just farm cobras, kill their farms
and then take them in for bounties.
It reminded me a lot of the of the Canadian gun gun
prohibition, which we'll talk about in a second.
And So what did the government do?
They were like all butt hurt that, you know, the the militias
entrepreneurs are taking advantage of them.
And so they said no more bounty and all the farmers released the
cobras into the wild, making the cobra problem worse.
And I think like the analogy and what we can pull from that is
just the fact that governments like you, you cannot interfere
and, and, and create artificial like regulation or, or, or rules
inside of a free market, the free market of nature, which is
like cobras eat people. You know, you can't like you
can't insert this, this third party regulation into it.
Otherwise the problem gets worse.
And the problem of open banking, which is a government problem,
they're shooting themselves in the foot because they're
inspiring me. And by the way, there's like,
it's not just me. I think I, like, I wear this
pretty proudly. I probably am the most debanked
human in the country like I am. I am out of banks.
I do have a wait. Wait, wait, can you literally
not? No, I, I do have a, a credit
union in Alberta has given me personally a bank.
When the company went public, we negotiated a banking contract as
a company with this crew and we wrote into our negotiations that
the CEO will be able to have a checking account.
That was like something that I was very strong, felt very
strongly about that I wanted. And so, you know, but like all
the big ones and like like TD, Scotia Bank, BMOCIBCRBC, those
like the big 5, we have like 5 big banks in Canada.
All of them have, have debanked me.
And I think it's what it's done is it's inspired me to make a
platform where you can live because like it's very annoying
to not have modern banking, right?
The tap your phone to pay for things is super convenient.
The like E transfer network here in Canada is really good.
And, and ultimately, you know, I've kind of taken that to
heart. Something we ask ourselves here
is like, how do I interact with money and how can I apply a
Bitcoin standard to that? A Bitcoin standard, of course,
is Bitcoin in self custody, right, number one.
And then #2 being able to use it with the same convenience.
And so from my perspective, like my kids, if I do my job
properly, we will never, my kids will never have a bank account.
I remember like with my dad walking in when I was like 10
years old, going to like the bank, get my little bank book
and like whatever it was, my kids are never going to have to
do that. My kids already have Bitcoin
wallets. You know, we're going to be able
to. That's what I'm building for.
I'm building for the next generation to be able to
function without a bank account to the point where like right
now, even with a light account at Bitcoin, well, like you can
pay your bills, you can you can send an E transfer to, you know,
to like to people like it's really important to me that
people have the opportunity to use the money that they control,
which is like, I don't know why that's a foreign or weird
concept. We should be able to use the
money that we control or that we've earned or that we have,
and that's why we exist. Ultimately that's just
independence. That's just being free.
It's like it's crazy. And I mean, in Canada we saw
like the trucker protests which really kicked this off.
People getting D banked, their accounts frozen because they
donated to a peaceful protest is mind blowing.
And it went to show how many, how much control and how little
freedom you can have at the drop of a hat.
And you know, we see fake crisis all the time.
We see, you know, propaganda come out through the state LED
machine. Even here in Canada.
We were talking yesterday, my son's in a in like a little
hockey camp. And so the dads, you know, sit
in the stands and solve the world's problems.
And one of them is like talking about how he doesn't see much
news on Facebook anymore. And I was like, well, yeah,
because of the Canadian government banned Facebook from
sharing news. And now the only news that we
get on like these like news aggregators like Facebook are
the state funded news. And he's like, whoa, I heard
about that, but I didn't really put two and two together.
And it's just like, yeah, this is how it works.
We've got propaganda that comes through.
We then have money that can be controlled.
This is why Noster is important. This is why Bitcoin's important.
This is why Bitcoin, well, is important.
This is why we need rules and not rulers.
And so, yeah, man, that's kind of a bit of like a long, a long
story, but it's crazy. And then last week.
So as a result of that our like DCA product are recurring by
here in Canada, recurring by in US coming soon because you're
not the biggest country in the world, you are but.
He's lying. The world revolves around
America. You Canadians are Larping.
We are a big LARP, let's be honest, but our recurring buy is
not a connect your bank recurring buy.
We've used like the like the bill payment network to do it.
And so how it works is we enlisted a payment processor.
You then send a bill payment to the payment processor on your
predetermined schedule. And then when that bill payment
comes in, those dollars are automatically converted to
Bitcoin and sent directly to your cold storage, which is like
a good way to do it. You don't have to give us your
bank info. It's all user distributed and
when it started like all the banks participated, it was all
good. Since then, one bank or sorry,
two banks have since like just cut our payment processor.
Like they're like, Nope, you can't send bill payments here
anymore. No warning, no notice, nothing.
Just like customers are like, hey, it's not working.
And I was like, what do you mean it's not working?
Like everything looks fine on our side.
And then, and I don't have a bank, so I can't like, search it
up. So we got to get other people to
like, go investigate. And sure enough, like the
payment process was gone. And then last week, a third one
just like waxed it. And so it's it's like this is
something that Trump said in his speech.
Yeah, it was Trump or RFK One, one of the two politicians said
it in their speech, which resonated so hard with me.
And it was the promise to end Operation Choke Point.
And I don't think that many people understand what Operation
Choke Point is. But Choke Point is like a little
bit of what we went through in COVID where it's like, oh, you
don't have to get the vaccine, but you can't go anywhere or do
anything if you don't have it. Like, whoa, whoa, whoa.
It's totally legal to do Bitcoin stuff.
You just can't use your money if you do.
And it's like, well, how how is that?
How is that good? How is that a free society?
You know, they get to hide behind the like headline of like
Bitcoin is legal, but then at the end of the day, you can't do
anything with that Bitcoin. That's a problem.
And so again, this is like this is cobra effect in motion.
This is, you know, I'm like, I'm a psychopath and I'm taking on
the like banking system. People ask me like, cuz we're
publicly traded. So I have like the investor
meetings and stuff and people are like, what's the end game?
Like, you know, what's your hopes and dreams of the company,
blah, blah, blah. And straight up I'm always like,
I want to buy Scotiabank. I'm like Scotiabank's like AI
don't know what they're worth. Like, you know.
Let's see. I'll, I'll see what the
Scotiabank market cap is. It's, it's like, yeah, $73
billion. Let's go.
Yeah, yeah. I want to like bankrupt and then
buy Scotiabank and like, you know, I want to completely flip
how people look at and think about money.
And, you know, Canada's talking seriously about a CBDC.
They've transitioned out of CBDC because that name is tainted and
they're calling it a digital loony.
If you look at the propaganda, you can just see it shift, man.
It's like. Just that name Digital loony.
Like, are you kidding me? It's so bad, man.
And then it's crazy. So I've been like, I've been
asked to give some like radio interviews here about like, you
know, the pros and cons of digital looney.
And I tell them like con is that someone can control it.
Someone can turn off your money and like, well, that wouldn't
happen. It's like based on what like
I've had it happen to me personally, my wife's had it
happen to her. She's like, you know, like
harmless, completely harmless, doesn't do anything weird.
Like I'm the I'm the psychopath. She's like normal and buys like
her, her, you know, her card transactions are like the
grocery store and like clothing for the kids, like as normal as
you can get for like, you know, a young suburbia mom of four
kids is like pretty normal. And so when they, when that
starts happening, and I think now more and more people are
seeing it because operation choke point because like, you
know, the controls, the people with the talons are getting
scared. They we have a tool for freedom.
And so we get to like, yeah, we get to, we get to move off of
out of the control and their talons are gripping and that's
just cobra effect in motion. So I'm super stoked to be I was
on, I was talking at a meet up a few weeks ago and I was like,
we're the cobra farmers. Like let's just make this
painful. Let's take their rules and use
it against them. When the guns in Canada, they
like banned handguns and they were paying people like they
give a bounty for this and some icon printed, 3D printed like
boxes and boxes and boxes of guns and took them in and the
government bought them like it's so funny, like $4.
Investment per gun for what? Was it like 4 or $500 or
something? Payback?
Dude, yeah. It was like the dollar in
plastic. It was, it was amazing.
And so I think it's just like, you know, everyone listening
right now in 2024, we're Cobra farmers.
Be a Cobra farmer and let's make it very, very difficult for the
government to succeed in capturing our value and we do
that by guess what, just sticking around, staying in our
little, you know, staying in our Bitcoiner environment and just
build it. Let's just make it easy.
Let's just grow that Bitcoin environment right start a meet
up like Orangeville. Some people stocks at stay
humble. It's like it's not, you know,
it's it's like our financial system right now is so complex
that we assume Bitcoin because it's better has to be more
complex, but it's actually, you know, it's better because it's
more simple. It's like who gets rewarded?
The person that works hard, who stays rewarded, the person that
spends less than they earn. We're like in the traditional
financial system. It's actually the opposite.
It's like, you know, you and I were saying for the show up
deeds like the guy who was it like the drug dealer and the
only fans pulling up in their. The scammers are the richest
people in our society. Let's just tell you about
society anyways. Wait Adam before you go on
though, there is a question here.
Wait, DAP says why is this guy to bank?
Would make this combo make more sense to have some background.
So very clearly, Adam, why are you a financial terrorist in
Canada? Yeah, I don't know.
I actually. It's because he's a bitcoiner.
I, I think it's because I'm a bit Oh, I, I just have a ticket
at home. I save all the letters.
I should like upload the letters because there's no context The
the letter that comes in just basically I post one on my
Twitter. You can go see it on my Twitter.
That's actually my wife's account that got to you banked.
But it's like the, the main letter says, we, you know, risk
profile, we're not going to move forward, blah, blah, blah.
You know, nothing you've done is illegal, but it's outside of our
risk profile for your account. And therefore you, you don't get
to like, you don't get to use our bank, which actually, I, I
don't disagree with that sentiment.
Like I believe that private businesses should have the
ability to pick and choose who they do business with.
That's totally fine. The problem I have is, yeah,
here it is. The the problem that I actually
have is that the the government has made it impossible to live
without a bank, both from the war on cash perspective, but
also like I tried. So like, you know, I'm debanked.
I'm a heavy cash user. We were buying a new family SUV
and I went to go like buy, buy a car with cash.
And so I walk in. It was like, you know, like a
like a whatever expensive car or SUV and I'm like, I can pay in
cash, right? They're like, Yep, no problem.
And I'm like, OK, great. Like when should I pick up the
car? Like come on Wednesday.
So it's like, great, get my cash, like bring it into the
dealership in like my backpack, my duffel bag, and they're like,
whoa, whoa, whoa, what's going on?
I'm like, well, I told you I was paying in cash.
Like we thought you meant check. It's like, well, if I meant
check, I, I would have just said check.
I, I meant cash. And so I said cash.
And then they were like, oh, well, we can take the cash.
We have to give it to the police for 10 days.
The police are going to keep it. And then if it's good, they'll
give it back to us. And I was like, whoa, like, I
don't necessarily trust the fact that someone else just gets to
hold my cash, especially when like previously, the police had
seized a bunch of of cash and I ended up getting it back.
I had to sue and go to court and then ended up getting it back.
But like, we live in a system where financially speaking, you
are guilty unless proven innocent.
I've got zero, like absolutely zero financial claims against
me. I'm squeaky clean.
I'm like the CEO of a publicly traded company.
Like, you know, you don't get to necessarily do that without
going through at least one background check.
I volunteer at a church. I'm like, you know, involved in
my son's hockey. Like I've done the background
checks, I've done the criminal checks.
Like I'm pretty clean guy. And but at the same time, I'm
like, you know, unbankable and too risky.
And it's only because of Operation Choke Point, it's only
because our money is not free. And it's only because, you know,
at the end of the day, he who controls the money controls the
individual. Because I promise you, and we're
seeing this in custodial Bitcoin exchanges right now, I can make
you jump through hoops if I'm standing between you and your
value, especially when you need that value.
And there's going to come a time, hopefully not in my
lifetime, but it seems more and more likely that it will be.
There's going to come a time when your life savings are in a
bank held and locked by some arbitrary, ridiculous rule in
the name of safety. And you're going to have to
choose between that money that you've worked hard and and
sacrificed to save and like the safety of you and your family.
And I think that's that's garbage.
Yeah, 100% and and it. Like I like Sense Quest here.
That's a good, that's a good call.
It's like, don't discriminate against me.
I'm in the minority. Yeah, yeah, let's not say that
on YouTube, but yeah, check out the comments.
But for especially for like Americans here, our audience is
mainly American and of course we've seen what's happened in
Canada. But I think a lot of like one
signal that most people forget is a lot of things that happen
in Canada are it's like a it's like a test bed experiment place
for things to get exported into the United States or, you know,
in any other part of the world. So it's like people might be
thinking here like, oh, this will never happen in the US.
Like, yeah, you know, Canada is, is messed up and we know where
they're going. And this is potentially can't
happen in the US. And it's like, well, one, this
stuff does happen already, but considering where we might be
going in the future, it could get infinitely worse for for us
in America. And This is why it's very
important for us to continue to double down on the Bitcoin ethos
and, and advocate for freedom of transaction, because if, if what
they've done for freedom of speech, they're not going to let
you, you know, transact freely if you can barely talk freely.
So it's it's coming. Throughout at least modern
history, like recorded history, the last 100 or so years, we've
never gotten more free. Like, like, like, you know, it
hasn't been like, oh, here's the temporary law that we're just
gonna keep temporarily for safety.
Like wasn't income tax at one point, like, you know, just to
fund the war, like three, 3%. Don't worry, once the war is
funded as good here in Canada, now we've got a 66% capital
gains tax. It's like they never go away.
Once the talons get sunk in, it's it's they they don't come
out and Bitcoin is the only way to like rip those talons out bit
by bit. Yeah, man, it's just we are
cobra farmers. That's maybe I'm going to start.
That's that's a. Cobra for Halloween here.
That's the new Bitcoin well Lego trademark on on the show yeah TM
Speaking of Bitcoin well, of course you know you're our
leading sponsor. We love partnering with you
guys. I do want to put you on the spot
here, Adam, because I know some of the stuff you're working on.
So what can you expose to the people?
What can you say? Can we get a leak here on what
you're working on with Bitcoin? Well, before we roll out today's
show. Yeah, dude.
So in that mantra of like being able to use Bitcoin like again,
I want it to be very, very easy to be able to buy Bitcoin and
receive it into self custody. One of the problems that we've
had with that is the you know, the UTXO issue and so in Canada,
we've just like sneaky launched very, very quietly lightning
payments with interact E transfer.
So you can go right now buy buy Bitcoin with Interac E transfer
and have it sent directly to your lightning wallet whatever
payment address you want. It's honestly it took me one
second. I sent one the other day.
It was one second from the E transfer being received by
Bitcoin. Well and SAT's being delivered.
I use my my primal, just adamant primal.net add that as a Bitcoin
address, sent an E transfer. Boom one second later I had
SAT's in primal. It was like out of hand amazing.
It works so good in Canada, it's incredible.
Dude, well, it's because we're so centralized and like, but
here's another thing. We actually had to change the E
transfer address that we send things to because our E transfer
piece is getting like flagged by the banks.
So we're just in like this constant state of iteration.
But again, what did that do? It forced us to innovate.
We've got a better solution coming down the pipe where it
will be basically untrackable and untraceable.
So I'm, I'm like quite excited about that anyways.
So that's super exciting. Coming soon though, and this is
going to be not only in Canada but also in the US and we're
going to be pushing for this to be around the globe.
It's the ability to buy gift cards with Bitcoin or lighting
network, which can be very good. Very, very simple.
Tap your card to pay for things. But then what this is all moving
towards is the ability to replace your bank account.
I believe in a world where you can have your paycheck deposited
into something of a Bitcoin well account, have a percentage of
that converted into Bitcoin sent directly to cold storage or your
lightning wallet, and then the rest sent to your like, you
know, your trad bank or just kept in Bitcoin well, and you'll
be able to pay your mortgage with that, pay your, your, your
bills with that, whatever it may be.
And that's where we're working towards, I want Bitcoin to be
the bank account for people who want to live on a Bitcoin
standard. And like our mission is to
enable independence. The only way to enable
independence is to make it easy to use Bitcoin in self custody.
And that's why we're here. And so I'm pretty stoked on
that, man. I think it's, I think it's good.
I'm really really, you know, humbled and and honored like the
fact that you guys crash the wishing well all the time.
It like, you know, it's like I'm like.
We gotta fix this. But also I'm like, holy crap, I
can't believe how many people use this.
I can't believe how many people. You know, we're a very low trust
platform, but we're not a no trust platform.
There's no such thing as a centralized no trust platform.
And, and although, you know, I think I'm quite trustworthy,
but, but it, it means a lot that people send us money and receive
their Bitcoin. It means a lot that they that
they tell their friends and then that they play the Bitcoin
wishing well to win free sats makes me very, very happy.
So I think it's yeah, it's it's really been exciting.
It's been an awesome year. I'm super stoked to get these,
these products and services that help you live on a Bitcoin
standard. And again, it's like I'm just
building a platform that I need like it's, it's something that I
and, and over time, more and more bitcoiners are going to
need. I needed a place to pay my
bills. So we built the ability to pay
your credit cards through the lighting network and, and, and
with Bitcoin, I needed or no, I actively need a way, like I
think I'm on thin ice here with the majority of banks.
I need a way to like deposit a paycheck and then get Bitcoin
into self custody. And as a result, you know, we're
going to build that. And so I think it's super
exciting. Opti is like, because I don't
have a bank in the US, obviously.
So I'm like messaging up like, hey, how does your bank work
with this? He like tells me like, OK, back
to the drawing board, like figure it out.
So I think it's yeah, man, I think I'm super bullish on on
the future of I'm bullish on the future of self custody.
I'm bullish on the future of people understanding why self
custody is so important. And I'm bullish on on the COBRA
effect. I'm bullish on governments not
understanding Bitcoin thinking they can win without realizing
they don't control the money anymore.
And if you don't control the money, you can't control the
human. And I think that's like, that's
a, that's a great thing. 100 percent, 100%.
And that's that's the message we try to get across on this show
all the time. It's like transacting freely is
like one of the most important things to be doing, just as
freedom of speech is. And if we've seen the trend and
again, you know, leaning into the latest meme of our show, you
know, Bitcoin. Wait, tomorrow's Bitcoin news
today. Nice we're.
Seeing we're, you know, as Bitcoiners, it's very, I
wouldn't say it's very easy, but it's you have a better
predictive ability than the average person because you see
the world a lot clearer. And, you know, we don't try to
get 2 tinfoil hat here on the show.
We try to, you know, keep things uplifting, but there is some
worrying things on the horizon. And as a Bitcoiner, it's very
important for us to continue to maintain the freedom to transact
because if they can shut you off in the banks, you know, they can
shut you off in me. They can literally make you
homeless. Like for everything.
You literally can't move. You can't do anything if you
can't transact freely, let alone can't speak freely.
And we can never get to the truth, which we're already see
them trying to do this in real time.
So there is. Things to stay vigilant about
like This is why it's important. I mean, we take for granted like
we run a Bitcoin node and like I, I run my nostril notes
through my Bitcoin node, primal.net/adam if you want to
follow me on master. And I think that that's like
that's super empowering that I have all of my financial and
then all of my speech transactions or notes going
through a piece of hardware and software that I control is
something that we've never really experienced.
Like we've never had the ability to mass communicate inside of a
platform that that we own and control and have access to.
And I, and I think that that's something that we cannot
understate. And we should all be learning
like we should all be learning if for no other reason than to
teach the next generation. We should all be learning how
that works. Because I truly believe if I
don't think my kids will have the same freedom of speech when
they're my age, if they do not figure out how to distribute
that through a network that is owned and controlled by them or
that is governed by rules and not rulers.
Protocol driven, not platform driven.
And This is why I'm bullish on protocols.
And we've got a lot of cool stuff lined up to integrate
nostril and Bitcoin. Well, I'm like, I'm so jazzed
up. I don't want to turn this into a
Bitcoin well ad you guys, you guys show us enough, but it is
it is very, very exciting. And then but just one last shell
sense quest asking how does Adam transact with no bank?
bitcoinwell.com is how I transact with no bank.
I literally have like I have an Amex card that I spend on every
single month. And then I just send the
transaction to like to pay that Amex card through
bitcoinwell.com and it pays my bills.
Like that's literally how I live, which is, which is like,
again, it's COBRA effect. It's like I've built the
platform that I need. And I'm banking on the fact that
governments are not going to get less controlling.
I'm banking on the fact that more people are going to need an
alternative to this centralized tyrannical banking environment.
And I'm banking on the fact that Bitcoin is the obvious answer.
I think I'm like pretty logically sound and protected in
those three assumptions. I would agree, 100% agree.
Well, Adam, this has been a great rip.
I'm glad I did just let you rip it because not only do people
get more familiar with you and what you're dealing with,
they're familiar with Bitcoin. Well, and it really goes into
one of the main themes that I try to push across in the
culture segment every single day is once you get on a Bitcoin
standard, once you're able to free yourself from, you know,
the Fiat rat race, then you start to think like an
entrepreneur. And most Bitcoiners are just
building products that they want for themselves.
And This is why the free market will out compete any government
out there or any centralized control, because we're just
building products that we want to see and we can move very
quickly and be very nimble. And This is why the Bitcoin
network will win. This is why Bitcoiners will
continue to win. It's all good being a Bitcoin.
I mean, it's so awesome being. A It's like, imagine somebody
betting against oxygen, like in the early days.
That's how dumb it is to bet against Bitcoin.
Or electricity. Or the car.
Or the wheel. It's like, no, no, no, gravity.
Gravity won't stick around forever.
That's just a fad. This crazy guy is having apples
fall on his head. That's where gravity comes from.
It's like Bitcoin is a protocol. It is something that cannot be
erased and it's the best possible place to store our our
value. So let's go Bitcoin and self
custody. Let's keep winning.
Let's go. Well guys, Adam, let me put you
behind the scenes as I wrap this one up.
But really appreciate you coming on.
You know, the Opti OB takeover was pretty lit high energy.
We were both geeked on coffee the whole show.
So, you know, high energy. Yo, but I energy today I had
that Maple syrup coffee, which we do here in Canada.
So it's like it's that next level geek.
So sugar crash incoming. Got it right now.
All right, hang out behind the scenes.
Adam, really appreciate you. Let me wrap this show up guys.
This was I'm blanking on the what number episode episode 1057
today is Tuesday, August 20, and this is your simply Bitcoin.
Do you appreciate the show you think we provide value like
share, subscribe, share this to your normies, share this to
anyone that will listen. I know we're very Bitcoin
centric. We speak in a lot of Bitcoin
words, but once you get down the rabbit hole and you end up at
simply Bitcoin, you realize there's so much more to the
world than you've been told. And that is the goal here.
So come back tomorrow. We will be back to our normally
scheduled programming with the one and only Miko Jones.
Until that, have a good rest of your day, get outside, touch
some grass, eat some good food, call the people you love.
This is the way. Get a workout in.
You know, all these things is what makes you a better
Bitcoiner. On that note, guys, it's been
your boy Opti salute. Peace out.
It was brought to you by bitcoinwell.com on a mission to
enable independence.