1 00:00:03,720 --> 00:00:06,720 It's all going to zero against Bitcoin. 2 00:00:07,320 --> 00:00:17,240 It's going up forever. You're against Bitcoin. 3 00:00:17,240 --> 00:00:22,160 You're against freedom. Yo, welcome to another. 4 00:00:22,160 --> 00:00:26,480 Episode of Simply Bitcoin Live. We are your number one source 5 00:00:26,480 --> 00:00:28,640 for the peaceful Bitcoin revolution of color, Breaking 6 00:00:28,640 --> 00:00:31,960 news, culture, Matic Warfare. We will be your guide through 7 00:00:32,240 --> 00:00:34,600 the separation of money and state. 8 00:00:35,040 --> 00:00:41,400 Today is a historic day. Bitcoin is officially trading on 9 00:00:41,400 --> 00:00:43,800 Wall Street. If you're a boomer, you can get 10 00:00:43,800 --> 00:00:45,680 exposure. We're going to get into the 11 00:00:45,680 --> 00:00:50,600 details in fact a lot of a lot of brokerages are are still even 12 00:00:50,600 --> 00:00:53,600 though it's trading now they're still not offering it to their 13 00:00:53,600 --> 00:00:55,800 clients. So we're we'll breakdown all the 14 00:00:55,800 --> 00:00:59,520 details of of all that but the thing that I really wanted to 15 00:00:59,520 --> 00:01:04,000 focus on today like the theme of the of today's episode is 16 00:01:04,000 --> 00:01:06,360 bitcoins irresistible incentives. 17 00:01:07,040 --> 00:01:09,920 The Trojan horse was just let in. 18 00:01:09,920 --> 00:01:13,920 I, I, I tweeted out as like as a meme earlier this morning and I 19 00:01:13,920 --> 00:01:16,160 put, you know, the the Trojan horse from the movie Troy. 20 00:01:16,360 --> 00:01:20,320 I put laser eyes and it's a testament to bitcoin's 21 00:01:20,320 --> 00:01:23,040 incentives and bitcoin's irresistible incentives. 22 00:01:23,040 --> 00:01:25,960 We've seen this many times. We we saw this with the China 23 00:01:25,960 --> 00:01:28,520 ban. I think that was like crazy. 24 00:01:28,520 --> 00:01:31,920 What happened, you know, nation state attack, the hash rate 25 00:01:31,920 --> 00:01:34,120 dropped by like 50%. I believe it's the reason that 26 00:01:34,120 --> 00:01:37,800 the last bull market was, you know, we didn't hit 100K and 27 00:01:37,880 --> 00:01:41,600 within nine months the hash rate distributed all around the world 28 00:01:41,600 --> 00:01:44,440 without a central authority dictating the miners to go 29 00:01:44,440 --> 00:01:46,520 everywhere. It was bitcoins incentives 30 00:01:46,520 --> 00:01:49,040 alone. And once again, what you're 31 00:01:49,040 --> 00:01:55,040 seeing is bitcoins, incentives, capture firms like BlackRock 32 00:01:55,040 --> 00:01:58,720 that you know, with their ESG movements and all that stuff and 33 00:01:58,720 --> 00:02:01,400 their association with the World Economic Forum, you think like 34 00:02:01,400 --> 00:02:04,400 this is an evil institution, but they can't resist. 35 00:02:04,400 --> 00:02:09,479 It's the greed and that greed was able to overcome the 36 00:02:09,840 --> 00:02:14,080 government bureaucracy that did not want this to get approved 37 00:02:14,080 --> 00:02:18,080 like the approval letter from Gary Gensler. 38 00:02:18,360 --> 00:02:23,040 He sounded he sounded so salty. And other members that were 39 00:02:23,040 --> 00:02:27,920 sitting on the on the SEC you know Commission, they were just 40 00:02:27,920 --> 00:02:31,320 like I can't believe this got accepted like like Elizabeth 41 00:02:31,320 --> 00:02:34,040 Warren like. And I again I made another meme. 42 00:02:34,880 --> 00:02:38,480 You know, I mean another meme yesterday of you guys all know 43 00:02:38,480 --> 00:02:40,800 this like the again guys we're apolitical. 44 00:02:40,800 --> 00:02:42,880 We'd only left or right Republican or Democrat. 45 00:02:42,880 --> 00:02:43,960 We stand for the party of orange. 46 00:02:43,960 --> 00:02:46,320 You guys know the deal. But there's that very famous 47 00:02:46,320 --> 00:02:50,800 video of you know, this this lady melting down at the Trump 48 00:02:50,840 --> 00:02:54,960 inauguration and I put, you know, breaking Elizabeth Warren 49 00:02:54,960 --> 00:02:57,680 and and the thing blew up. I can't, I can't even imagine 50 00:02:57,680 --> 00:02:59,520 what Elizabeth Warren is thinking right now. 51 00:03:00,720 --> 00:03:06,800 The Trojan horse just got in, just got let inside into Troy. 52 00:03:07,120 --> 00:03:08,840 They don't know. They have no idea. 53 00:03:09,120 --> 00:03:18,640 And Alex Gladstein really wrote this amazing article called for 54 00:03:18,640 --> 00:03:21,480 Bitcoin Magazine called Bitcoin is a Trojan Horse for Freedom. 55 00:03:22,240 --> 00:03:28,320 And in that article he talks about how you know, dictators, 56 00:03:28,600 --> 00:03:31,080 institutions, banks, central banks. 57 00:03:31,280 --> 00:03:33,720 They can't resist bitcoins, incentives. 58 00:03:33,920 --> 00:03:37,040 But what they what they don't know what What they fail to 59 00:03:37,040 --> 00:03:42,040 understand is that number go up. Technology and freedom enabling 60 00:03:42,040 --> 00:03:44,440 technology are inextricably linked. 61 00:03:44,440 --> 00:03:47,560 You cannot separate the two, right? 62 00:03:47,880 --> 00:03:53,400 So this is a crazy time to be alive, but at the same time guys 63 00:03:53,400 --> 00:03:56,960 have said this many times, this might be positive for the price, 64 00:03:56,960 --> 00:03:59,680 even though as of now it it could have. 65 00:04:00,560 --> 00:04:03,000 You could make the argument that it was a sell the news event, 66 00:04:04,080 --> 00:04:06,400 but it could be positive for the price. 67 00:04:06,400 --> 00:04:08,960 In fact, I do think it's going to be positive for the price 68 00:04:08,960 --> 00:04:12,160 over the long term. But it's important to remember 69 00:04:12,160 --> 00:04:16,519 that the revolution here is Bitcoin in self custody. 70 00:04:16,519 --> 00:04:19,959 It's individuals taking custody of their wealth. 71 00:04:20,640 --> 00:04:23,640 Therefore by doing that, taking back, there's financial 72 00:04:23,640 --> 00:04:26,920 sovereignty rather than outsourcing it to a bank. 73 00:04:26,920 --> 00:04:29,600 There's this really famous expression on Bitcoin Twitter 74 00:04:29,720 --> 00:04:32,160 which is when you have a bank account really it's a two of 75 00:04:32,160 --> 00:04:35,880 three multi sig of which you hold one key, the bank holds 76 00:04:35,880 --> 00:04:39,640 another key and then the state holds another key, you know, so 77 00:04:39,640 --> 00:04:44,280 it it's really about taking control back of your financial 78 00:04:44,280 --> 00:04:47,920 future. So as you know the ETF hype, I 79 00:04:47,920 --> 00:04:50,920 think it reached the pinnacle. This thing's approved, it's done 80 00:04:50,920 --> 00:04:53,640 and dusted. It's important to remember that. 81 00:04:53,880 --> 00:04:56,480 Another thing that I also wanted to talk talk about on today's 82 00:04:56,480 --> 00:04:59,000 episode is there is a very famous space. 83 00:04:59,000 --> 00:05:02,040 I think it was a couple years ago, it was like 2021 or 2020 84 00:05:02,520 --> 00:05:06,360 and Michael Saylor in that space said that there was three things 85 00:05:06,360 --> 00:05:10,880 that needed to happen in order for Bitcoin to reach $5,000,000 86 00:05:10,880 --> 00:05:15,120 per coin. And those three things were a 87 00:05:15,240 --> 00:05:21,120 spot Bitcoin ETF approval, the FASB accounting rules change. 88 00:05:21,600 --> 00:05:27,640 And also the third thing was for banks, large banks to have the 89 00:05:27,640 --> 00:05:31,440 ability and the regulatory approval to custody Bitcoin for 90 00:05:31,440 --> 00:05:34,000 clients. All of those three things that 91 00:05:34,000 --> 00:05:38,440 happened, so we are, you know, all the all the three things 92 00:05:38,440 --> 00:05:42,080 that Michael Saylor said needed to happen have happened for 93 00:05:42,080 --> 00:05:44,920 Bitcoin to hit $5,000,000 per coin. 94 00:05:45,120 --> 00:05:47,960 It sounds so unfeasible at this moment. 95 00:05:47,960 --> 00:05:51,400 You're like, Nico, that's impossible, you know that that's 96 00:05:51,400 --> 00:05:56,360 a ridiculously high number. But I ask you to look back in 97 00:05:56,360 --> 00:05:59,920 the past. Ten years ago, Bitcoin was 98 00:05:59,920 --> 00:06:03,160 trading at $100. We're at $40,000. 99 00:06:03,680 --> 00:06:06,520 So where is Bitcoin going to be 10 years from now? 100 00:06:07,240 --> 00:06:09,400 Something that has absolute scarcity. 101 00:06:09,400 --> 00:06:11,600 Nothing in the world has that right? 102 00:06:11,840 --> 00:06:15,280 If the price of gold goes up, gold production goes up with it, 103 00:06:15,640 --> 00:06:18,080 right? If the price of Bitcoin goes up, 104 00:06:18,680 --> 00:06:21,360 there's a having every four years, baby, that production 105 00:06:21,360 --> 00:06:23,360 stays the same. It is what it is. 106 00:06:23,800 --> 00:06:28,960 And never have we ever seen that in in mankind's history. 107 00:06:29,240 --> 00:06:33,280 So I'm beyond excited. It's an honor to ride this with 108 00:06:33,280 --> 00:06:35,760 you guys. Looking forward to today's 109 00:06:35,760 --> 00:06:37,680 episode. All right, enough with the 110 00:06:37,680 --> 00:06:39,200 monologue. I do want to bring up my 111 00:06:39,200 --> 00:06:42,200 legendary Co host. He's always optimistic. 112 00:06:42,240 --> 00:06:43,880 He has a giant smile on his face. 113 00:06:43,880 --> 00:06:48,040 His name is the Optimus Fields. How you doing buddy? 114 00:06:48,680 --> 00:06:49,840 I'm doing great. Great. 115 00:06:49,920 --> 00:06:54,280 It's a very historic day. And Nika, you asked a question 116 00:06:54,760 --> 00:06:58,040 of what you think Elizabeth Warren is thinking right now. 117 00:06:58,040 --> 00:07:03,200 Well this is better markets, an NGOI believe they call it that 118 00:07:03,200 --> 00:07:07,040 is yeah non profit promoting economic security that Elizabeth 119 00:07:07,040 --> 00:07:10,360 Warren rather is aligned with Elizabeth Warren and this tweet 120 00:07:10,360 --> 00:07:12,960 came out yesterday. So the SEC Gov's action today 121 00:07:12,960 --> 00:07:14,720 has changed. Nothing about this worthless 122 00:07:14,720 --> 00:07:18,280 financial product, AKA Bitcoin and crypto still have no 123 00:07:18,280 --> 00:07:21,440 legitimate use, remain the preferred product of 124 00:07:21,440 --> 00:07:24,560 speculators, gamblers, predators and criminals, and continue to 125 00:07:24,560 --> 00:07:27,680 be cesspools of fraud, manipulation and criminality. 126 00:07:27,680 --> 00:07:30,880 So just love to see that she is digging her heels in there. 127 00:07:30,880 --> 00:07:36,640 So yeah, are we surprised? Anyways, on a totally other 128 00:07:36,960 --> 00:07:42,000 topic, we're seeing that of course you know the banks and 129 00:07:42,000 --> 00:07:44,400 and the holdouts, the the no coin is out there. 130 00:07:44,400 --> 00:07:47,080 They still feel the same way, they still feel self-righteous 131 00:07:47,080 --> 00:07:50,880 about Bitcoin and it's only a matter of time until more and 132 00:07:50,880 --> 00:07:54,280 more people wake up to Bitcoin actually being the economic 133 00:07:54,400 --> 00:07:56,760 freedom tool that it is. I Did you see the Digit 134 00:07:56,760 --> 00:08:01,040 Economist tweet? Nico the the what's his name? 135 00:08:01,040 --> 00:08:02,960 Steven Deal. You got to pull these up, 136 00:08:02,960 --> 00:08:05,360 brother, because. Maybe maybe I can find something 137 00:08:05,360 --> 00:08:07,520 real correct. But Steven Deal if you guys 138 00:08:07,520 --> 00:08:12,080 don't know who he is he's he's been quoted a lot of times on 139 00:08:13,040 --> 00:08:19,920 legacy media about just he he's basically like the guy man. 140 00:08:19,920 --> 00:08:23,560 No this is the wrong one. He he's the guy that's always 141 00:08:23,560 --> 00:08:27,240 quoted for for all the negatives in Bitcoin. 142 00:08:27,800 --> 00:08:31,120 He he his research quote UN quote has been used and and he's 143 00:08:31,120 --> 00:08:33,880 basically saying the same thing. He said something on the lines 144 00:08:33,880 --> 00:08:37,480 that like Bitcoin is a tool of tyranny and Fiat money is is a 145 00:08:37,480 --> 00:08:41,039 real tool of progress and prosperity in the future. 146 00:08:41,039 --> 00:08:43,840 So I'll, I'll try to pull that up for you guys throughout the 147 00:08:44,000 --> 00:08:45,120 show. Yeah. 148 00:08:45,120 --> 00:08:47,720 So we'll, we'll get to that. Also Phil C has a really 149 00:08:47,720 --> 00:08:50,400 important point which is listen to this. 150 00:08:50,400 --> 00:08:52,960 Some asset managers, compliance departments like Merrill Lynch 151 00:08:52,960 --> 00:08:56,520 are not letting their clients buy the Bitcoin ETFs, the SEC 152 00:08:56,520 --> 00:08:58,440 approved products. So we'll get to that. 153 00:08:58,440 --> 00:09:02,360 There's a reason for that. Just hold your horses, we'll, 154 00:09:02,440 --> 00:09:04,200 we'll, we we did the research for you guys. 155 00:09:04,200 --> 00:09:05,720 That's why you guys tuned in to simply Bitcoin? 156 00:09:05,720 --> 00:09:07,440 Yeah, and then and then we told you, Nico. 157 00:09:08,640 --> 00:09:10,280 We'll get into. We'll get into. 158 00:09:12,240 --> 00:09:15,560 We're gonna get into, I guess, a lot of ETF stuff today. 159 00:09:15,600 --> 00:09:20,160 Niko is gonna cover all the ETF news for you, and then I'm going 160 00:09:20,160 --> 00:09:23,320 to kind of cover more of like the framing and what you guys 161 00:09:23,320 --> 00:09:27,680 can do as individuals out there. So it's an ETF pack show today. 162 00:09:28,080 --> 00:09:30,760 Try to give you guys as as much sauce on today's show as 163 00:09:30,760 --> 00:09:32,640 possible. So this is going to be a good 164 00:09:32,640 --> 00:09:34,520 1A. 100% It's going to be a great show. 165 00:09:34,760 --> 00:09:36,680 All right, guys, buckle up. Let's start the show. 166 00:09:36,680 --> 00:09:41,720 Let's hit the numbers. Let's do this the Bitcoin 167 00:09:41,720 --> 00:09:44,720 numbers. Is your Bitcoin and cold storage 168 00:09:44,720 --> 00:09:47,720 really secure? Is your seed phrase really 169 00:09:47,720 --> 00:09:49,280 secure? Stamp seeds? 170 00:09:49,280 --> 00:09:51,960 Do it yourself. Kit has everything you need to 171 00:09:51,960 --> 00:09:56,360 hammer your seed words into commercial grade titanium plates 172 00:09:56,560 --> 00:09:58,560 instead of just writing them on paper. 173 00:09:58,840 --> 00:10:02,040 Don't store your generational wealth on paper. 174 00:10:02,480 --> 00:10:05,000 Papers prone to water damage, fire damage. 175 00:10:05,160 --> 00:10:07,400 You want to put your generational wealth on one of 176 00:10:07,400 --> 00:10:10,520 the strongest metals on planet earth, Titanium. 177 00:10:10,520 --> 00:10:13,680 Your words are actually stamped into this metal plate with this 178 00:10:13,680 --> 00:10:17,120 hammer and these letter stamps. And once your words are in, they 179 00:10:17,120 --> 00:10:20,040 aren't going anywhere. No risk of the plate breaking 180 00:10:20,040 --> 00:10:22,440 apart and pieces falling everywhere. 181 00:10:22,600 --> 00:10:25,840 Titanium stamp seeds will survive nearly triple the heat 182 00:10:25,840 --> 00:10:28,360 produced by a house fire. They're also crush proof, 183 00:10:28,360 --> 00:10:31,040 waterproof, non corrosive, and time proof. 184 00:10:31,040 --> 00:10:33,720 All things that paper is not allowing you to huddle your 185 00:10:33,720 --> 00:10:36,680 Bitcoin with Peace of Mind for the long haul. 186 00:10:36,840 --> 00:10:40,720 Stamp your seed on stamp, seed. All right guys, I made it 187 00:10:40,720 --> 00:10:45,480 incredibly easy for you guys in these moments right where we 188 00:10:45,480 --> 00:10:50,600 have Wall Street coming in offering these ETF products. 189 00:10:50,600 --> 00:10:55,440 It's never been so important to take self custody of your 190 00:10:55,440 --> 00:10:57,760 Bitcoin and you have to do it properly. 191 00:10:57,760 --> 00:11:00,400 Self custody takes personal responsibility. 192 00:11:00,400 --> 00:11:03,680 Not only does it take a badass hardware wallet, but you got to 193 00:11:03,680 --> 00:11:05,600 back up those seed words properly. 194 00:11:05,800 --> 00:11:10,280 So you don't want to use paper, you want to use titanium. 195 00:11:10,280 --> 00:11:12,880 You don't want to just use any metal, You want to use titanium. 196 00:11:13,040 --> 00:11:15,480 We obviously recommend our sponsor, Stamp Seed. 197 00:11:15,480 --> 00:11:19,320 By the way, you can use promo code simply to get 15 percent 198 00:11:19,320 --> 00:11:21,880 off anything on the stamp seed store. 199 00:11:22,040 --> 00:11:25,520 So scan the QR code, check the link in the video description. 200 00:11:25,520 --> 00:11:28,360 It will take you directly to the stamp seed website. 201 00:11:28,520 --> 00:11:34,880 At the time of recording, the Bitcoin price is 45,830 SATS per 202 00:11:34,880 --> 00:11:42,880 dollar. 2182 Market cap $898 billion Declined from all time 203 00:11:42,880 --> 00:11:50,440 high 33.5% days since all time high 791 days Bitcoin versus 204 00:11:50,440 --> 00:11:55,480 gold market cap 6.69%. Supply of Bitcoin held in 205 00:11:55,480 --> 00:12:00,000 corporate treasuries around 10% Total Lightning Network capacity 206 00:12:00,160 --> 00:12:06,960 4798 Bitcoin block height 825,343. 207 00:12:07,480 --> 00:12:10,400 The block height makes an all time high every single show 208 00:12:11,280 --> 00:12:13,840 anyways, so we're. Gonna Niko, Niko, before you go 209 00:12:13,840 --> 00:12:16,280 into this, can I found the tweet let's. 210 00:12:17,320 --> 00:12:18,640 This is. I'm gonna get to that. 211 00:12:18,640 --> 00:12:19,240 I'm gonna have. This. 212 00:12:19,680 --> 00:12:21,120 That's part. That's part of the numbers, 213 00:12:21,120 --> 00:12:21,880 brother. OK, cool. 214 00:12:22,000 --> 00:12:22,920 I got you. But good. 215 00:12:22,920 --> 00:12:24,440 Look, we're In Sync today, brother. 216 00:12:24,560 --> 00:12:25,880 We're In Sync. We're In Sync. 217 00:12:25,960 --> 00:12:28,160 So you saw the tweet, you. Saw the tweet, I just didn't 218 00:12:28,200 --> 00:12:30,440 know who you're referring to. But that's literally what I'm 219 00:12:30,440 --> 00:12:32,120 gonna make the numbers section about today. 220 00:12:32,160 --> 00:12:34,080 So awesome. OK, we're In Sync. 221 00:12:34,080 --> 00:12:36,040 Holy crap. Opti and I have been doing this 222 00:12:36,040 --> 00:12:38,560 so long, we're just, you know, all of a sudden he's going to be 223 00:12:38,560 --> 00:12:47,600 growing a blonde tip. OK, anyways, all right, so these 224 00:12:47,600 --> 00:12:51,440 Wall Street just keeps making commercials about Bitcoin, which 225 00:12:51,440 --> 00:12:55,680 is just crazy, you know? Guys I I just I just I just want 226 00:12:55,680 --> 00:12:59,600 to take I want to make Opti and I you know just scream before we 227 00:12:59,600 --> 00:13:01,440 get to the to the sauce. OK. 228 00:13:02,440 --> 00:13:04,720 Congratulations anybody everybody. 229 00:13:05,280 --> 00:13:10,760 If you have bought Bitcoin before January 11th of 2023, you 230 00:13:10,960 --> 00:13:13,800 frant ran Wall Street. Frant ran. 231 00:13:13,800 --> 00:13:17,000 Yes. Front run, Front run frant ran. 232 00:13:17,000 --> 00:13:19,280 Frant ran. I'm creating a word. 233 00:13:19,280 --> 00:13:22,080 I guess I traded it, but there you go. 234 00:13:22,080 --> 00:13:26,160 So congratulations, you did it today. 235 00:13:26,160 --> 00:13:29,160 I saw a lot of people talking about this on Twitter today was 236 00:13:29,160 --> 00:13:32,240 Bitcoin's IPO. But there are no insiders, 237 00:13:32,520 --> 00:13:34,200 right? There's no people that are just 238 00:13:34,200 --> 00:13:36,880 going to dump it. And the Bitcoin that there is to 239 00:13:36,880 --> 00:13:39,800 buy, I think it's like 2 million on exchanges, right? 240 00:13:40,200 --> 00:13:42,440 The Hodlers are not selling that. 241 00:13:42,520 --> 00:13:45,040 I don't know about you guys, bro, but when Bitcoin hits 242 00:13:45,040 --> 00:13:46,840 $1,000,000 a coin, people are going to be like, you're going 243 00:13:46,840 --> 00:13:48,200 to sell it. I'm like sell it to what? 244 00:13:48,200 --> 00:13:50,320 Like that's the question. It's like when people ask you, 245 00:13:50,320 --> 00:13:51,800 are you going to sell your Bitcoin? 246 00:13:52,120 --> 00:13:53,760 What? Alright, what are you going to 247 00:13:53,760 --> 00:13:57,000 sell it for like dollars? Like like is that is that what 248 00:13:57,000 --> 00:13:59,400 you mean? Like no man. 249 00:13:59,400 --> 00:14:02,960 OK anyways back to this. So Wall Street keeps releasing 250 00:14:02,960 --> 00:14:04,600 commercials. This is the latest one. 251 00:14:05,000 --> 00:14:09,520 This is from Grayscale diversifying into Bitcoin type 252 00:14:09,520 --> 00:14:11,920 GBTC into your investment account today. 253 00:14:12,160 --> 00:14:15,040 Or ask your financial advisor about the world's largest 254 00:14:15,040 --> 00:14:21,120 Bitcoin ETF ticker. GBTC Bitcoin Investing begins 255 00:14:21,120 --> 00:14:22,760 here. I think that's like the worst 256 00:14:22,760 --> 00:14:24,120 one. Yeah, did. 257 00:14:24,200 --> 00:14:28,000 You see the Vanek 1. Yeah, let's pull it up. 258 00:14:28,200 --> 00:14:29,200 I got it. I got it right here. 259 00:14:29,200 --> 00:14:31,280 I got it right here. Here. 260 00:14:31,280 --> 00:14:32,840 I got it. Let me let me pull it up. 261 00:14:33,120 --> 00:14:35,440 This one. This one's actually I I. 262 00:14:35,600 --> 00:14:38,720 This one seemed much better than me. 263 00:14:38,720 --> 00:14:45,240 All right, let's start this. The world holds on to old ways 264 00:14:45,400 --> 00:14:49,360 until it can't. When Bitcoin was born, it broke 265 00:14:49,360 --> 00:14:53,960 that endless cycle. It's not a defiance of finance. 266 00:14:54,720 --> 00:14:58,320 Bitcoin may help guard against the government devaluing your 267 00:14:58,320 --> 00:15:01,560 money. Finally, you can buy and hold 268 00:15:01,560 --> 00:15:05,720 Bitcoin in an ETF with the Vanek Bitcoin Trust, Hodel. 269 00:15:05,800 --> 00:15:09,440 Search the ticker HODL in your stock trading today. 270 00:15:10,440 --> 00:15:13,520 That one's way better. Dude, that one I like that like, 271 00:15:13,520 --> 00:15:15,600 'cause they they understood a lot of like. 272 00:15:16,240 --> 00:15:18,000 Yeah, they're they're bitcoiners. 273 00:15:18,280 --> 00:15:23,040 Like they understand a lot of the like kind of like Bitcoin 274 00:15:23,040 --> 00:15:26,640 culture and all that. But also, did you see, did you 275 00:15:26,640 --> 00:15:29,560 see the BlackRock 1? I did not see it. 276 00:15:29,560 --> 00:15:30,160 Pull it up. I got. 277 00:15:31,000 --> 00:15:32,080 I got. You pull it up. 278 00:15:32,160 --> 00:15:33,040 Pull it up. I was gonna. 279 00:15:33,040 --> 00:15:34,440 OK, let's do it. Let's do it. 280 00:15:34,680 --> 00:15:38,440 Yeah, you you do your bit after. Let's just play all of these. 281 00:15:38,440 --> 00:15:41,280 Let's see Wall Street pumping our bags. 282 00:15:42,120 --> 00:15:48,000 This one's a little longer, though, guys, but not as good as 283 00:15:48,000 --> 00:15:49,520 Divanic. Digital asset adoption has 284 00:15:49,520 --> 00:15:52,920 significantly accelerated over the past decade, with profound 285 00:15:52,920 --> 00:15:54,960 implications for the future of finance. 286 00:15:55,640 --> 00:15:58,480 Bitcoin is the original cryptocurrency to gain global 287 00:15:58,480 --> 00:16:01,800 adoption and has continued to maintain its dominance despite 288 00:16:01,800 --> 00:16:03,960 thousands of others coming into existence. 289 00:16:04,560 --> 00:16:07,160 You might have noticed Bitcoin makes into our everyday lives. 290 00:16:07,160 --> 00:16:10,320 From Bitcoin ATMs to various merchants accepting Bitcoin as 291 00:16:10,320 --> 00:16:13,320 payment, further driving interest in what the future 292 00:16:13,320 --> 00:16:17,560 holds for the cryptocurrency, investors have taken notice as 293 00:16:17,560 --> 00:16:20,480 an institution's individual investors alike have been 294 00:16:20,480 --> 00:16:24,240 adopting Bitcoin into their investment portfolios, with some 295 00:16:24,240 --> 00:16:27,320 viewing it as a potential store of value and others as a 296 00:16:27,320 --> 00:16:30,280 potential game changer in how money moves around the world. 297 00:16:31,600 --> 00:16:35,280 But for many investors, holding Bitcoin directly can be complex. 298 00:16:35,920 --> 00:16:40,520 That's why we launched Ibid, the iShares, Bitcoin Trust and ETF 299 00:16:40,520 --> 00:16:43,240 that provides investors convenient exposure to Bitcoin. 300 00:16:44,760 --> 00:16:48,680 Here are three things to know about Ibid access. 301 00:16:49,160 --> 00:16:52,160 Ibid enables investors to access Bitcoin within a traditional 302 00:16:52,160 --> 00:16:55,880 brokerage account, just like stocks, bonds, and other ETFs. 303 00:16:56,880 --> 00:17:00,680 Convenience IBIT can help remove operational burdens associated 304 00:17:00,680 --> 00:17:03,960 with trading and holding Bitcoin directly, as well as potentially 305 00:17:03,960 --> 00:17:06,760 high trading costs and tax reporting complexities. 306 00:17:08,119 --> 00:17:12,280 Quality IBIT is built by BlackRock, a leading ETF firm 307 00:17:12,280 --> 00:17:15,920 with expertise across ETFs and a history of innovation. 308 00:17:16,440 --> 00:17:20,040 I can't take this out of it. You had to wait for that. 309 00:17:20,040 --> 00:17:22,599 Like didn't. We like talking about it in the 310 00:17:22,599 --> 00:17:24,520 internal slack. Like, bro, we make better 311 00:17:24,520 --> 00:17:28,640 content than BlackRock. Oh, man. 312 00:17:28,640 --> 00:17:32,480 All right, OK, so back-to-back to what we were talking about 313 00:17:32,480 --> 00:17:35,360 during the numbers segment. So yeah, so Wall Street is just, 314 00:17:35,360 --> 00:17:38,560 like dropping like, like these crazy commercials. 315 00:17:38,560 --> 00:17:41,080 It's it's it's incredible. It's really awesome. 316 00:17:42,320 --> 00:17:46,360 But I in other news, I kind of want to shift it because there's 317 00:17:46,360 --> 00:17:50,720 other stuff that's happening, which is the haters are coming 318 00:17:50,720 --> 00:17:53,440 out of the woodwork. First of all, I do wanna start 319 00:17:53,440 --> 00:17:55,320 it off with the meme Elizabeth Warren. 320 00:17:55,320 --> 00:17:58,920 This is a live view of her. Yesterday when the ETF got 321 00:17:58,920 --> 00:18:04,320 approved, we know that she was colluding with Gary Genzer. 322 00:18:04,560 --> 00:18:09,080 Shout out to Fox News for doing amazing reporting and 323 00:18:09,080 --> 00:18:12,680 discovering that don't trust, verify, guys, Don't take my word 324 00:18:12,680 --> 00:18:16,000 for it literally. It came out that Elizabeth 325 00:18:16,000 --> 00:18:21,600 Warren was was sending Gary Gensler the questions before he 326 00:18:21,600 --> 00:18:25,400 would testify in Congress. But this is Stefan. 327 00:18:25,400 --> 00:18:27,880 He is Stefan and he says. Stefan deal. 328 00:18:27,880 --> 00:18:29,960 Stefan deal. I think he goes by like it's 329 00:18:29,960 --> 00:18:31,600 like Digi economist or something. 330 00:18:31,600 --> 00:18:35,240 He's quoted in pretty much all of the research that corporate 331 00:18:35,240 --> 00:18:38,560 press and mainstream propaganda used to fund Bitcoin. 332 00:18:38,560 --> 00:18:40,680 And you'll see something. You'll see once again, and the 333 00:18:40,680 --> 00:18:42,080 ratio. And this is the power of the 334 00:18:42,080 --> 00:18:44,680 Internet guys. You take agency, take action. 335 00:18:44,880 --> 00:18:47,720 If you have a Twitter account. If you have a YouTube channel, 336 00:18:47,720 --> 00:18:49,360 speak up. Say something. 337 00:18:49,360 --> 00:18:53,160 The Internet has empowered you to circumvent the gatekeepers of 338 00:18:53,160 --> 00:18:56,000 information. You now have a voice and you can 339 00:18:56,000 --> 00:18:59,560 make your thoughts known. And again, like if you're not 340 00:18:59,560 --> 00:19:01,960 speaking truth on the Internet, you know you're going to get 341 00:19:01,960 --> 00:19:03,960 eaten alive. And that's exactly what just 342 00:19:03,960 --> 00:19:06,880 happened here. So he says Bitcoin represents 343 00:19:06,880 --> 00:19:10,320 serfdom, stagnation, subjugation to the tyranny of the 344 00:19:10,320 --> 00:19:12,440 discredited ideas from the Middle Ages. 345 00:19:12,720 --> 00:19:16,200 Fiat money represents a future of growth, sovereignty and 346 00:19:16,200 --> 00:19:19,440 freedom and advanced information economy. 347 00:19:20,320 --> 00:19:23,000 He has that like completely effing backwards. 348 00:19:23,240 --> 00:19:27,800 I think this is a projection. I think that he truly believes 349 00:19:28,080 --> 00:19:31,800 that you know, centralized control of money will be better 350 00:19:31,800 --> 00:19:37,000 for humanity than you know than than Bitcoin. 351 00:19:37,000 --> 00:19:39,360 And he and he really reveals something when he says 352 00:19:39,360 --> 00:19:41,120 discredited ideas from the Middle Ages. 353 00:19:41,120 --> 00:19:46,880 It's it's like like if money can exist of which they can't debase 354 00:19:47,360 --> 00:19:50,760 of which the government just can't like print at their will 355 00:19:52,120 --> 00:19:54,920 that's a nightmare for the central planners like I'll be 356 00:19:54,920 --> 00:19:59,000 honest with you. So bit of projection here and 357 00:19:59,000 --> 00:20:01,000 this is the, this is the last thing that I wanted to cover 358 00:20:01,000 --> 00:20:05,600 during the numbers segment which is you know a lot of people said 359 00:20:05,600 --> 00:20:10,520 a bunch of stuff and the European Central Bank. 360 00:20:11,000 --> 00:20:16,240 Said the digital euro is public money issued directly by the 361 00:20:16,240 --> 00:20:19,320 European Central Bank. Bitcoin is different. 362 00:20:19,320 --> 00:20:22,440 It is a speculative asset that does not fulfill the 363 00:20:22,440 --> 00:20:25,880 characteristics of money. So you can kind of connect these 364 00:20:25,880 --> 00:20:29,400 two in terms of the logic on which they're thinking. 365 00:20:29,400 --> 00:20:33,960 And it's basically like like, we can do your money better than 366 00:20:33,960 --> 00:20:36,720 you could do it for. Like we can do money better. 367 00:20:36,720 --> 00:20:40,080 Like as long as you give us total control, we know what's 368 00:20:40,080 --> 00:20:43,080 best for you, you stupid peasant. 369 00:20:43,080 --> 00:20:47,480 Basically. So and it goes on to say Bitcoin 370 00:20:47,480 --> 00:20:50,280 is different, is a speculative asset that does not fulfill the 371 00:20:50,280 --> 00:20:54,720 characteristics of money. I go on to respond, which is the 372 00:20:54,720 --> 00:20:57,560 truth, right? And shout out Sophie for giving 373 00:20:57,560 --> 00:21:01,960 me a like and pushing me over, pushing that over 300 and it's a 374 00:21:02,000 --> 00:21:04,400 nice and I responded. I said Bitcoin is a public 375 00:21:04,400 --> 00:21:06,280 Ledger that can be audited by anyone. 376 00:21:06,560 --> 00:21:09,160 Anyone can get new Bitcoin by mining it. 377 00:21:09,560 --> 00:21:14,640 The public cannot audit the ECB, only the ECB can create new EUR. 378 00:21:14,920 --> 00:21:17,640 Bitcoin is public money for the people. 379 00:21:17,800 --> 00:21:21,800 The euro is government money for the government. 380 00:21:22,040 --> 00:21:27,560 So when you see comments like this and when you see comments 381 00:21:27,560 --> 00:21:34,160 like this from the European Central Bank, they're status and 382 00:21:34,160 --> 00:21:37,520 status believe that the state can do it better, right? 383 00:21:37,720 --> 00:21:42,920 Bitcoin is the public money, and that's one of their talking 384 00:21:42,920 --> 00:21:45,600 points. And remember, like if you are 385 00:21:45,600 --> 00:21:49,760 not educated on the matter, if you are not informed, you will 386 00:21:49,760 --> 00:21:53,120 fall for that. Don't allow them to capture that 387 00:21:53,120 --> 00:21:58,400 argument in that narrative that Bitcoin somehow is private 388 00:21:58,400 --> 00:22:01,000 money. I broke it down. 389 00:22:01,440 --> 00:22:04,080 You can't make more EUR without going to jail. 390 00:22:04,640 --> 00:22:07,640 You can't audit the European Central Bank. 391 00:22:07,640 --> 00:22:09,000 You can't audit any central bank. 392 00:22:09,000 --> 00:22:12,120 They'll laugh at you. You can run a node right now. 393 00:22:12,120 --> 00:22:15,440 We recommend by the way Start 9. They have a deal right now. 394 00:22:15,440 --> 00:22:20,400 You can check the details in the video description and you can 395 00:22:20,400 --> 00:22:22,280 run a node. You can buy one pre built. 396 00:22:22,400 --> 00:22:24,760 I have the Start 9 server pure. It's badass. 397 00:22:24,760 --> 00:22:27,560 Highly recommend it. It's a workhorse or you can 398 00:22:27,560 --> 00:22:29,920 build one yourself. You could download the Start 9 399 00:22:30,200 --> 00:22:36,120 software on an old computer or something and run a node and you 400 00:22:36,120 --> 00:22:38,480 can audit the Bitcoin. You know, the Bitcoin 401 00:22:38,480 --> 00:22:41,200 blockchain, the Bitcoin network, whenever you want. 402 00:22:41,200 --> 00:22:43,960 You can find out the total supply whenever you want. 403 00:22:43,960 --> 00:22:46,200 You're not trusting anyone else. It is. 404 00:22:46,200 --> 00:22:50,400 You're running your own version of the Bitcoin software, and so 405 00:22:50,400 --> 00:22:53,560 that's one component. The other component is like, OK, 406 00:22:53,640 --> 00:22:56,760 guess what they're saying it's public money. 407 00:22:57,040 --> 00:22:59,440 You can't create more EUR, You can't create Fiat money. 408 00:22:59,440 --> 00:23:02,000 Only the government has that privilege to do that. 409 00:23:02,360 --> 00:23:05,520 If you invest in mining infrastructure, you can 410 00:23:05,520 --> 00:23:11,280 literally start mining and making more brand new minted 411 00:23:11,280 --> 00:23:12,800 money and and then check this out. 412 00:23:13,360 --> 00:23:16,440 There's no special privileges. So if you are a government, a 413 00:23:16,440 --> 00:23:21,000 king, an emperor, you have to get in line like everybody else 414 00:23:21,280 --> 00:23:23,280 and invest in mining infrastructure. 415 00:23:23,280 --> 00:23:25,960 If you want to mine more Bitcoin, you don't have the 416 00:23:25,960 --> 00:23:29,160 privilege of being able to create money for free that 417 00:23:29,160 --> 00:23:34,520 everyone else has to work for. So like, no Fiat money is the 418 00:23:34,520 --> 00:23:38,920 private money. Fiat money is the special 419 00:23:38,920 --> 00:23:43,280 privileged money. Bitcoin is the money for the 420 00:23:43,280 --> 00:23:47,000 people, by the people. That is the reality, central 421 00:23:47,000 --> 00:23:50,400 bankers. So don't allow them to take this 422 00:23:50,400 --> 00:23:53,520 narrative and don't allow them to, you know, stand on their 423 00:23:53,520 --> 00:23:56,320 high horses and try to dictate you and tell you. 424 00:23:56,600 --> 00:23:59,920 Because whether it's Stefan or whether it's the European 425 00:23:59,920 --> 00:24:03,800 Central Bank, you have to understand why they're saying 426 00:24:03,800 --> 00:24:07,360 the things they're saying. And they fundamentally believe 427 00:24:07,920 --> 00:24:10,680 that they know what's best for you. 428 00:24:10,920 --> 00:24:15,160 That's what they're telling you. Not directly maybe, but if you 429 00:24:15,160 --> 00:24:17,840 read in between the lines and you really understand what it is 430 00:24:17,840 --> 00:24:19,920 they're saying, that's what they're saying. 431 00:24:20,360 --> 00:24:22,760 And I don't know about you guys, but I think millions upon 432 00:24:22,760 --> 00:24:27,200 millions of of of individuals making their own decisions about 433 00:24:27,200 --> 00:24:29,960 their lives, about what information they want to 434 00:24:29,960 --> 00:24:34,400 consume, about what money they want to use, rather than a group 435 00:24:34,400 --> 00:24:38,560 of elitist central planners. My money is upon millions of 436 00:24:38,560 --> 00:24:41,560 individuals making individual decisions, right? 437 00:24:41,720 --> 00:24:44,400 That's literally the basis of capitalism, right? 438 00:24:44,560 --> 00:24:46,800 So this is the death of central planning. 439 00:24:47,040 --> 00:24:48,960 And I think these central planners are absolutely 440 00:24:48,960 --> 00:24:50,480 terrified. And I think that's why they're 441 00:24:50,480 --> 00:24:53,040 saying shit like this. Opti, what are your thoughts 442 00:24:53,040 --> 00:24:57,680 brother? Yeah, I mean you know we say all 443 00:24:57,680 --> 00:25:01,600 the time, we know our bias. Of course we think Bitcoin is 444 00:25:01,600 --> 00:25:04,560 going up. We, we believe in the 21 million 445 00:25:04,560 --> 00:25:08,120 hard cap, not only believe, we run the nodes and we verify and 446 00:25:08,120 --> 00:25:10,960 confirm that there will never be more than 21 million Bitcoin. 447 00:25:11,520 --> 00:25:14,320 And if you don't understand the mechanisms of Fiat money, if you 448 00:25:14,320 --> 00:25:17,400 don't know how Fiat money is created, literally create 449 00:25:17,560 --> 00:25:19,760 printing money out of thin air based on debt. 450 00:25:20,200 --> 00:25:21,960 And you don't understand the Cantalon effect. 451 00:25:21,960 --> 00:25:25,000 Like you can see how easily someone can gaslight you into 452 00:25:25,000 --> 00:25:28,440 not understanding the mechanisms of our current Keynesian 453 00:25:28,440 --> 00:25:31,000 economy. And if you're like an average 454 00:25:31,000 --> 00:25:35,760 person that just looks at things on a very surface level, you 455 00:25:35,760 --> 00:25:38,880 probably would believe what like Stefan Deal's saying or 456 00:25:38,880 --> 00:25:42,680 Elizabeth Warren is saying, or we saw one of the one of the 457 00:25:42,680 --> 00:25:45,640 SECI forget what what her name was. 458 00:25:45,840 --> 00:25:47,920 It's like Caroline Crenshaw or what her position is. 459 00:25:48,400 --> 00:25:52,720 She came out super hard against Bitcoin and was saying that, you 460 00:25:52,720 --> 00:25:56,120 know, the complete opposite of what Gary Ginzer's trying to do. 461 00:25:56,120 --> 00:25:58,560 Like again, the same things. Like it's for criminals, money, 462 00:25:58,560 --> 00:25:59,840 we're. Going to get to that. 463 00:25:59,840 --> 00:26:01,680 We have all the receipts. We have all the receipts. 464 00:26:01,680 --> 00:26:04,400 In the new segment and and you could just see like and and you 465 00:26:04,400 --> 00:26:08,600 call them statist and it just it's it's so obvious once you 466 00:26:08,600 --> 00:26:13,000 understand what's going on like all these people and and the 467 00:26:13,000 --> 00:26:15,520 majority of people would probably fall into the trap of 468 00:26:15,520 --> 00:26:18,720 believing that the the sole person to create money should be 469 00:26:18,720 --> 00:26:21,600 the government. When if you study any basics 470 00:26:21,600 --> 00:26:25,680 amount of Austrian economics, you realize that hey, a money 471 00:26:25,680 --> 00:26:29,560 not controlled by a specific government would benefit the 472 00:26:29,560 --> 00:26:34,120 most people and it's just it's very hilarious in my opinion. 473 00:26:34,200 --> 00:26:37,000 It's above that, dude. Listen, OK, let's. 474 00:26:37,320 --> 00:26:40,240 Because we have to be fair, let's give them the benefit of 475 00:26:40,240 --> 00:26:41,240 the doubt. OK? 476 00:26:41,240 --> 00:26:42,760 Let's give them the benefit of the doubt. 477 00:26:43,960 --> 00:26:45,120 Government. You. 478 00:26:45,520 --> 00:26:48,040 It's it's true. You know, a government and 479 00:26:48,040 --> 00:26:50,560 democracy is a true representation of the people. 480 00:26:50,560 --> 00:26:54,040 Therefore, they have the sole right and the privilege to be 481 00:26:54,040 --> 00:26:57,080 able, the ones to control monetary policy, right? 482 00:26:57,080 --> 00:27:01,200 That's the theory, right? How has that worked out? 483 00:27:02,160 --> 00:27:04,400 It's a been of excuse my language. 484 00:27:04,400 --> 00:27:06,880 I'm sorry guys. It's been an absolute fucking 485 00:27:06,880 --> 00:27:10,000 disaster. Endless wars. 486 00:27:10,520 --> 00:27:13,680 If you are a millennial and I'll put, I'll, I'll say this if 487 00:27:13,680 --> 00:27:16,920 you're under the age of 35, you cannot afford anything. 488 00:27:17,760 --> 00:27:19,880 You're out priced out of the housing market. 489 00:27:20,000 --> 00:27:23,480 Thank God for Bitcoin. Like if it wasn't for Bitcoin, 490 00:27:23,480 --> 00:27:25,760 like, I I don't think I would have hope for the future. 491 00:27:27,080 --> 00:27:30,440 So it it it like, you have to understand like and and here's 492 00:27:30,440 --> 00:27:32,920 the thing, the Conciling Air conference is already releasing 493 00:27:32,920 --> 00:27:35,000 the propaganda to like, make you OK with that. 494 00:27:35,120 --> 00:27:37,320 They're literally telling you you'll own nothing and be happy. 495 00:27:37,440 --> 00:27:39,360 Fuck that. I want to own something and be 496 00:27:39,360 --> 00:27:43,480 happy. So yeah, like, I'm sorry they 497 00:27:43,480 --> 00:27:45,560 shot the bed. What was the what was the quote 498 00:27:45,560 --> 00:27:48,760 by Ron Paul? You know, it's not a coincidence 499 00:27:48,760 --> 00:27:52,360 that the century of central banking is also the bloodiest 500 00:27:52,680 --> 00:27:56,600 century in human history. I completely, fundamentally 501 00:27:56,600 --> 00:28:00,400 agree. So yeah, governments, you had 502 00:28:00,400 --> 00:28:03,080 it. You had an opportunity and you 503 00:28:03,080 --> 00:28:06,600 shat the bed multiple times, over and over and over again. 504 00:28:06,600 --> 00:28:10,000 What is? Javier Miley of Argentina says 505 00:28:10,080 --> 00:28:12,800 no, I Plata. There is no money, right? 506 00:28:13,920 --> 00:28:17,040 So yeah, no, it's time to try something new. 507 00:28:17,920 --> 00:28:20,400 Of course, you know, the people that benefit from that money 508 00:28:20,400 --> 00:28:23,880 printer, the status, the central planners, of course, you know, 509 00:28:24,280 --> 00:28:25,760 they're going to be upset with this. 510 00:28:26,040 --> 00:28:29,640 So anyways, I do want to give a. Shout out one more thing I want 511 00:28:29,640 --> 00:28:31,400 to say, because it's on this point. 512 00:28:31,440 --> 00:28:34,360 You know there is only one permissionless money in the 513 00:28:34,360 --> 00:28:36,960 world. There is there is only one money 514 00:28:36,960 --> 00:28:43,720 that you don't need the favor of the Emperor to to and be 515 00:28:43,720 --> 00:28:46,480 involved with it. Like you, you don't need to ask 516 00:28:46,480 --> 00:28:48,040 anyone. You don't need a middleman. 517 00:28:48,280 --> 00:28:50,240 You you you can't print more of it. 518 00:28:50,240 --> 00:28:55,280 Like there's only one money in the world that is immune to the 519 00:28:55,280 --> 00:28:59,320 debasement of the currency of the money by governments and 520 00:28:59,320 --> 00:29:01,960 that is Bitcoin. And I don't know about you, but 521 00:29:01,960 --> 00:29:05,280 I much prefer using a money that is not controlled by a 522 00:29:05,280 --> 00:29:07,520 government, that's not controlled by a specific 523 00:29:07,520 --> 00:29:10,920 organization. That's why Bitcoin is freedom 524 00:29:10,920 --> 00:29:13,800 Money is because there's no one that you have to go to and ask 525 00:29:13,800 --> 00:29:16,280 permission to use it. Or you know, you can't create 526 00:29:16,280 --> 00:29:18,560 more of it. Like there's only one freedom 527 00:29:18,560 --> 00:29:20,440 money in the world in this Bitcoin anyways. 528 00:29:20,440 --> 00:29:23,360 Go on, Nico. 100% No, I think you said it beautifully. 529 00:29:23,760 --> 00:29:27,520 Anyways guys, if you are watching the show, it really 530 00:29:27,520 --> 00:29:30,960 helps us if you smash the like button on YouTube, on Twitter, 531 00:29:30,960 --> 00:29:34,920 on rumble. We've been having great live 532 00:29:34,920 --> 00:29:37,800 streams these last couple days. If you're on the go and you 533 00:29:37,800 --> 00:29:41,360 can't make the video show, you can't watch it for some reason. 534 00:29:41,360 --> 00:29:43,720 Let's say you're, you know, you're driving or something like 535 00:29:43,720 --> 00:29:46,120 that. You could always find us on 536 00:29:46,120 --> 00:29:49,720 Anchor, Spotify, Apple, Fountain really appreciate us. 537 00:29:49,720 --> 00:29:52,560 I really appreciate if you leave us some good reviews, helps 538 00:29:52,560 --> 00:29:55,000 push, you know the the show forward. 539 00:29:55,320 --> 00:29:57,240 Of course, if you guys like the show, right. 540 00:29:57,760 --> 00:30:01,200 So we appreciate you guys and we wouldn't be here without you. 541 00:30:01,360 --> 00:30:04,720 So anyways, no more delay. Let's jump straight into the 542 00:30:04,720 --> 00:30:06,280 news. We have a lot to talk about 543 00:30:06,280 --> 00:30:10,920 today. Let's check it out the Daily 544 00:30:10,920 --> 00:30:14,320 News. I want to give a shout out to 545 00:30:14,320 --> 00:30:18,680 our sponsor, Foundation Devices. 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Guys, it's never been as 567 00:31:24,200 --> 00:31:28,040 important as it is today to take self custody of your Bitcoin. 568 00:31:28,040 --> 00:31:32,400 That's how you empower yourself. You when you take self custody 569 00:31:32,400 --> 00:31:36,760 or Bitcoin, not only can you vote with your wallet, but also 570 00:31:36,760 --> 00:31:39,720 your feet, right? So take that sweet, sweet, sweet 571 00:31:40,040 --> 00:31:43,360 Bitcoin, put it into cold storage, get yourself a hardware 572 00:31:43,360 --> 00:31:47,040 wallet, and of course you recommend our sponsor Passport 573 00:31:47,040 --> 00:31:50,800 by Foundation Devices. It is literally it makes taking 574 00:31:50,800 --> 00:31:55,240 self custody incredibly easy. OK, so I do want to address the 575 00:31:55,240 --> 00:31:59,480 topic of today's video. So the ETF has been approved but 576 00:31:59,480 --> 00:32:02,280 you guys are not bullish enough. I'm I'm going to take that quote 577 00:32:02,480 --> 00:32:08,320 from from from CK here is a very famous Twitter spaces that 578 00:32:08,440 --> 00:32:11,800 Michael Saylor participated in. Mind you this was back. 579 00:32:11,840 --> 00:32:14,760 This was two years ago. This was in 2021 November 10th, 580 00:32:14,760 --> 00:32:18,680 2021. Holy cow long time ago and let's 581 00:32:18,680 --> 00:32:20,880 check out. He says there's three things 582 00:32:20,880 --> 00:32:24,400 that needed to happen in order for Bitcoin to hit $5,000,000 583 00:32:24,400 --> 00:32:25,320 per coin. Let's check it out. 584 00:32:25,320 --> 00:32:27,040 We. Want to do that? 585 00:32:27,200 --> 00:32:29,520 Then you can get in ahead of everybody else, and if you 586 00:32:29,520 --> 00:32:32,040 won't, you wait and you buy in when it's 10X more. 587 00:32:32,920 --> 00:32:36,600 And and you think the catalyst that 10X is, it really is the 588 00:32:36,600 --> 00:32:39,880 moment that JP Morgan Chase or or other big money center banks 589 00:32:39,880 --> 00:32:41,400 can custody these for large corporates. 590 00:32:41,400 --> 00:32:42,280 That's it. That's the sea change. 591 00:32:42,280 --> 00:32:43,960 Because there's really no reason why they shouldn't be 592 00:32:43,960 --> 00:32:45,320 diversifying the assets on the balance sheet. 593 00:32:45,320 --> 00:32:46,760 Is that is that your take? Because I know that like Tim 594 00:32:46,760 --> 00:32:47,720 Cook, I don't know where it came from. 595 00:32:47,720 --> 00:32:49,120 Earlier this week he said something like I own some 596 00:32:49,120 --> 00:32:51,160 Bitcoin, but we have no designs on anything or I don't know if 597 00:32:51,160 --> 00:32:52,280 he said Bitcoin or crypto in general. 598 00:32:52,360 --> 00:32:53,920 Is that the thing? And then and then and then 599 00:32:54,000 --> 00:32:55,760 there's three. Look first of all it's going up 600 00:32:55,760 --> 00:32:57,760 by a factor of 10 whether they fix any of the stuff right. 601 00:32:57,760 --> 00:33:00,480 It's going to go it's going to be a grind up by a factor of 10 602 00:33:00,480 --> 00:33:03,720 just because gold is broken and bitcoin's going to replace gold 603 00:33:03,720 --> 00:33:05,800 and now everybody in the universe knows they need a non 604 00:33:05,800 --> 00:33:08,000 solver and store of value in the form of a bearer instrument. 605 00:33:08,320 --> 00:33:11,440 So now they're looking the the amount of stories for last year 606 00:33:11,440 --> 00:33:13,040 people said inflation may be coming we're not sure. 607 00:33:13,280 --> 00:33:15,760 Now the mainstream narrative is flipped to inflation is here you 608 00:33:15,760 --> 00:33:18,440 need inflation edge so it's going to grind up to replace 609 00:33:18,440 --> 00:33:20,000 gold. It look at $500,000 a coin 610 00:33:20,000 --> 00:33:21,880 regardless of why they fix these things but there are three 611 00:33:21,880 --> 00:33:25,640 things that are massive catalyst that cause an acceleration and I 612 00:33:25,640 --> 00:33:28,160 don't think that those three things don't take us to 500,000 613 00:33:28,160 --> 00:33:29,800 they take us to 5 million a coin right. 614 00:33:29,880 --> 00:33:33,360 Those three things are a spot ETF where someone can go ahead 615 00:33:33,360 --> 00:33:35,680 and buy $100 million of Bitcoin via security. 616 00:33:35,680 --> 00:33:39,280 An ETF security I think that's 1/2 is your bank is going to 617 00:33:39,280 --> 00:33:40,840 custody it for you and lend against it. 618 00:33:41,640 --> 00:33:45,440 And three is I can mark it up, I'll mark it down on my balance 619 00:33:45,440 --> 00:33:48,520 sheet based on fair value para pursue, it'll be para pursue to 620 00:33:48,520 --> 00:33:51,960 the way I handle apple stock or at least that good if it's if 621 00:33:51,960 --> 00:33:54,960 you have property with fair value accounting by the way it 622 00:33:54,960 --> 00:33:58,160 becomes para pursue to the way you handle treasury bonds on a 623 00:33:58,160 --> 00:34:00,080 treasury balance sheet. Treasuries are better than 624 00:34:00,080 --> 00:34:02,520 stocks because treasury is property whereas a stock is a 625 00:34:02,520 --> 00:34:05,280 security and you're capped out at 40% of your balance sheet of 626 00:34:05,280 --> 00:34:05,800 security. So. 627 00:34:06,120 --> 00:34:09,840 So it would be a major, major breakthrough if if you saw any 628 00:34:09,840 --> 00:34:12,080 of those three things. And I'll end with this one 629 00:34:12,080 --> 00:34:13,400 observation. I tweeted this last week but I 630 00:34:13,440 --> 00:34:14,560 still I think it's very powerful. 631 00:34:14,800 --> 00:34:17,400 It's if the banks can hold this stuff on their balance sheet, 632 00:34:17,679 --> 00:34:20,320 then a whole new class of investors are going to buy it. 633 00:34:20,320 --> 00:34:22,120 People are going to put in billion in multi billion dollar 634 00:34:22,120 --> 00:34:23,719 orders to buy it as a treasury asset. 635 00:34:23,960 --> 00:34:25,719 Nobody's going to sell it because because there's no 636 00:34:25,719 --> 00:34:28,040 reason to sell it if you can borrow against it at Libor plus 637 00:34:28,040 --> 00:34:30,880 art silver plus 50 basis points, right. 638 00:34:31,199 --> 00:34:32,600 So you'll be you'll be barring as Bitcoin. 639 00:34:32,600 --> 00:34:35,400 So for plus 50 or so for plus 100 basis points no one's ever 640 00:34:35,400 --> 00:34:37,480 going to sell it. And then as I joked you won't be 641 00:34:37,480 --> 00:34:38,679 able to afford it. I mean you will be able to 642 00:34:38,679 --> 00:34:39,800 afford it. But you know, everybody gets 643 00:34:39,800 --> 00:34:42,040 Bitcoin at the price they deserve when the banks normalize 644 00:34:42,040 --> 00:34:45,159 it and you can draw $100 million credit line at 100 basis points 645 00:34:45,159 --> 00:34:48,679 from an FDIC insured bank at that point, right. 646 00:34:48,679 --> 00:34:50,760 We're going to blow through the market cap of gold by a factor 647 00:34:50,760 --> 00:34:52,920 of 10. So I, you know, I think the best 648 00:34:52,920 --> 00:34:55,159 thing is those three things are highly likely to happen. 649 00:34:55,159 --> 00:34:57,680 I don't know if they happen in 36 months or 24 months or 12 650 00:34:57,680 --> 00:35:00,360 months, but I would be shocked if it's more than 36 months. 651 00:35:00,400 --> 00:35:03,480 And I hope, guys, I hope it doesn't happen in 12 months, 652 00:35:03,480 --> 00:35:06,320 because my view is the longer it takes, the the more progressive 653 00:35:06,320 --> 00:35:08,280 the grind, the more time I have to buy more of it. 654 00:35:09,040 --> 00:35:14,480 And he was absolutely right, ladies and gentlemen, Michael 655 00:35:14,480 --> 00:35:19,440 Saylor being prophetic, November 10th, 2021. 656 00:35:19,760 --> 00:35:22,840 Those things have. Happened so less than 36 months. 657 00:35:22,840 --> 00:35:26,680 So you know a spot Bitcoin ETF was approved. 658 00:35:27,480 --> 00:35:31,840 The the FASB ruling was also approved. 659 00:35:32,360 --> 00:35:35,680 I saw a comment in the comment section talking about what is 660 00:35:35,680 --> 00:35:39,400 para pursue, para pursue mean. It's a Latin phrase and the 661 00:35:39,480 --> 00:35:42,320 English translation means on equal footing, right. 662 00:35:42,320 --> 00:35:46,520 So if stock and Bitcoin were treated on equal footing on any 663 00:35:46,520 --> 00:35:50,680 on an accounting level, it would, it would, it would be, it 664 00:35:50,920 --> 00:35:54,040 would be good for companies to hold it without the accounting 665 00:35:54,040 --> 00:35:56,360 nightmare. And this changed by the way it 666 00:35:56,360 --> 00:35:59,080 was announced, actually in December 13th, 2023. 667 00:35:59,080 --> 00:36:02,000 We we covered it on Simply Bitcoin Live when it happened. 668 00:36:02,960 --> 00:36:05,080 So this is crazy historic moment. 669 00:36:05,080 --> 00:36:07,920 Now, the third thing that Michael Saylor said that needed 670 00:36:07,920 --> 00:36:13,040 to happen was banks having the ability to custody Bitcoin for 671 00:36:13,040 --> 00:36:15,160 their clients. Opti, I'm letting you right now. 672 00:36:15,160 --> 00:36:17,160 The new segment is gonna run a little bit long today 'cause I 673 00:36:17,160 --> 00:36:17,920 have a lot to. Cover. 674 00:36:17,920 --> 00:36:18,480 That's cool. That's. 675 00:36:18,720 --> 00:36:22,560 Cool. So but this is crazy historic 676 00:36:22,560 --> 00:36:24,040 moment. Now let's go through it. 677 00:36:24,440 --> 00:36:28,800 Franklin Templeton. Literally their their thing on 678 00:36:28,800 --> 00:36:32,800 Twitter, it's Benjamin Franken with with laser eyes. 679 00:36:32,800 --> 00:36:35,280 Like, could you have ever have imagined this? 680 00:36:35,280 --> 00:36:37,720 This is absolutely nuts. Guys. 681 00:36:37,880 --> 00:36:40,360 I I mean, Opti, you've been here a minute, right? 682 00:36:40,360 --> 00:36:42,320 We've been here a minute. You know it's my eighth year. 683 00:36:42,320 --> 00:36:44,720 It's your 7th year. Like dude, could you ever have 684 00:36:44,720 --> 00:36:47,920 imagined that Bitcoin legal tender happening, public 685 00:36:47,920 --> 00:36:51,440 companies holding Bitcoin on their balance sheet, This now. 686 00:36:51,440 --> 00:36:53,960 It's literally the Bitcoin IPO today. 687 00:36:54,120 --> 00:36:56,040 Like this is crazy. This is nuts. 688 00:36:56,040 --> 00:36:58,600 I can't believe how far we've come here. 689 00:36:58,600 --> 00:37:02,160 Is Max Keiser really? And I I agree with this by the 690 00:37:02,160 --> 00:37:07,040 way, Lop, who's the CTO of Casa, said today is the end of the 691 00:37:07,040 --> 00:37:10,600 beginning for Bitcoin. The middle will mark the biggest 692 00:37:10,600 --> 00:37:13,360 explosion and mark cap with huge gains for Bitcoin. 693 00:37:13,360 --> 00:37:16,840 Again, and I completely agree, this is the beginning of the 694 00:37:16,840 --> 00:37:18,120 end. This is the end of the 695 00:37:18,120 --> 00:37:21,360 beginning. We're no longer in the innovator 696 00:37:21,480 --> 00:37:24,720 or the early adopter phase. Wall Street is here, right? 697 00:37:24,920 --> 00:37:27,440 They're not quite here. We'll get into the details of 698 00:37:27,440 --> 00:37:31,680 that in a second, but this is extremely, extremely exciting. 699 00:37:32,040 --> 00:37:36,080 Here's Adam Back's takes on what has been happening with the spot 700 00:37:36,080 --> 00:37:37,640 Bitcoin ETF. He goes on to say. 701 00:37:37,760 --> 00:37:42,520 So Tradfi let the Bitcoin Apex Predator into their China shop. 702 00:37:42,600 --> 00:37:47,160 Doors open in 24 hours. Supply squeeze volatility 24/7, 703 00:37:47,160 --> 00:37:50,360 High leverage with the ETF. Market makers and APS have 704 00:37:50,360 --> 00:37:53,400 enough liquidity or or will things get crazy. 705 00:37:53,400 --> 00:37:57,480 Everything hits spot in a supply squeeze and spot is thing. 706 00:37:58,040 --> 00:38:02,560 A spot is thin and he you know he goes on to GIF with the with 707 00:38:02,560 --> 00:38:06,400 the a Tyrannosaurus Rex and he Adam back says Bitcoin apex 708 00:38:06,400 --> 00:38:09,000 predator on the trading floor. Let's go. 709 00:38:09,000 --> 00:38:12,680 I completely agree this is a really, really useful graphic. 710 00:38:13,200 --> 00:38:18,560 This was when the Spot gold ETF was approved in November of 711 00:38:18,560 --> 00:38:21,320 2004. Take a look at what happened to 712 00:38:21,320 --> 00:38:24,640 the price shortly after. Right now, we'll get into the 713 00:38:24,640 --> 00:38:28,000 details and we'll compare because I think it's the best 714 00:38:28,000 --> 00:38:36,480 comparison how long it, how long it took for these institutions 715 00:38:36,480 --> 00:38:39,600 to start 'cause it was approved. But that doesn't mean that like 716 00:38:39,600 --> 00:38:44,480 for example, Merrill Lynch or Vanguard are are offering it to 717 00:38:44,480 --> 00:38:47,040 their clients yet. That takes a while. 718 00:38:47,040 --> 00:38:50,360 That takes some time, right. So we'll get into the details of 719 00:38:50,360 --> 00:38:52,400 that. The ramp up just isn't 720 00:38:52,400 --> 00:38:56,280 overnight. So here is here's another 721 00:38:56,280 --> 00:38:58,560 example. BlackRock actually tweeted this 722 00:38:58,560 --> 00:39:03,520 out out and it BlackRock is recommending this Bitcoin 723 00:39:03,520 --> 00:39:08,240 performance compared to major assets like come on now 724 00:39:08,400 --> 00:39:15,800 cumulative 300 and 315,000% analyzed 124%. 725 00:39:16,280 --> 00:39:20,440 So BlackRock is even telling you like look, Bitcoin is the thing. 726 00:39:20,440 --> 00:39:24,120 Like Bitcoin is where it's at. Absolutely crazy. 727 00:39:24,480 --> 00:39:30,480 Now before I get into the saltiness of the approval from 728 00:39:32,840 --> 00:39:36,640 Elizabeth, sorry, from Gary Gensler and some of the SEC 729 00:39:36,640 --> 00:39:39,720 commissioners as well as other SEC commissioners that were 730 00:39:39,720 --> 00:39:43,640 actually pretty hyped that I got approved, I do want to cover 731 00:39:43,640 --> 00:39:45,320 this because I believe it is important. 732 00:39:45,560 --> 00:39:48,880 So some news came out and I did a little bit of research and 733 00:39:48,880 --> 00:39:53,280 I'll read you guys something that I found out, which is it 734 00:39:53,280 --> 00:39:55,960 seems like other financial institutions are not yet 735 00:39:55,960 --> 00:39:58,320 offering this. So here's Neil Jacobs. 736 00:39:58,720 --> 00:40:00,800 He says I have a retirement account with Vanguard. 737 00:40:00,800 --> 00:40:04,080 I called them and they said they will not be offering any of the 738 00:40:04,080 --> 00:40:06,840 Bitcoin ETFs. I'm working on transferring 739 00:40:06,840 --> 00:40:09,760 assets out of there and then I will close my Vanguard account. 740 00:40:09,760 --> 00:40:11,720 Terrible business decision by Vanguard. 741 00:40:12,320 --> 00:40:15,040 Here is Steven Lupka. Steven Lupka is the head of Swan 742 00:40:15,040 --> 00:40:18,240 Private also a great guy. Worked with him at when I worked 743 00:40:18,240 --> 00:40:20,600 with him a lot when while I was at Swan. 744 00:40:21,080 --> 00:40:26,000 He goes on to say Vanguard City, Merrill, Edward Jones, UBS are 745 00:40:26,000 --> 00:40:30,400 all being reported to not allow clients to trade the ETF. 746 00:40:30,400 --> 00:40:33,680 Now I did a little bit of research of why that is, why 747 00:40:33,680 --> 00:40:39,040 that is happening, and I'll read you guys what I discovered. 748 00:40:39,720 --> 00:40:45,520 So I believe that this is from. This is a report from Bitwise. 749 00:40:45,520 --> 00:40:50,520 Yes, it is a report from Bitwise and it goes on to say everyone, 750 00:40:50,520 --> 00:40:53,560 I everyone wants to know how much money will flow into 751 00:40:53,560 --> 00:40:55,800 Bitcoin ETF. That's hard to say. 752 00:40:56,000 --> 00:40:59,320 I've seen long term flow estimates of 30 billion to 200 753 00:40:59,320 --> 00:41:01,920 billion. But one thing we do know is that 754 00:41:01,920 --> 00:41:04,800 the flows won't won't come all at once. 755 00:41:04,800 --> 00:41:08,800 In fact, it's more likely that they will build over time. 756 00:41:10,200 --> 00:41:14,760 It goes on to say in here are so the inflows for gold. 757 00:41:14,760 --> 00:41:17,000 So it was approved. The Gold Spot Bitcoin ETF was 758 00:41:17,000 --> 00:41:21,880 approved in 2004, 2004. The first year was 1.5 billion. 759 00:41:22,080 --> 00:41:30,280 The second year in 2005 it was 3.3 billion. 2006 4.8 2007 5.6 760 00:41:30,280 --> 00:41:35,960 2008 11.2 billion 2009 19 billion You guys get the point 761 00:41:35,960 --> 00:41:38,040 right? So it wasn't this like all at 762 00:41:38,040 --> 00:41:40,440 once flood. It started to trickle in. 763 00:41:40,720 --> 00:41:43,160 Now he goes on to say, and I think here's the sauce, here's 764 00:41:43,160 --> 00:41:46,600 the signal and all this there's there's a reason for the slow 765 00:41:46,600 --> 00:41:49,400 build up. For instance, although ETFs make 766 00:41:49,400 --> 00:41:52,640 it easy for many people to invest in an asset, they aren't 767 00:41:52,680 --> 00:41:55,720 automatically approved on all platforms. 768 00:41:55,720 --> 00:42:00,240 It takes time for instances, for conservative wirehouse 769 00:42:00,240 --> 00:42:04,320 brokerages like Morgan Stanley and Merrill Lynch to approve new 770 00:42:04,600 --> 00:42:05,840 ETFs. Now, I know what a lot of you 771 00:42:05,840 --> 00:42:08,400 guys are thinking like, OK, but they're not going to improve it. 772 00:42:08,600 --> 00:42:12,680 Well, This is why the Neil Jacobs tweet is so important, my 773 00:42:12,720 --> 00:42:15,600 ladies and gentlemen. That is market forces doing what 774 00:42:15,600 --> 00:42:19,200 market forces do best, right? That is literally market forces 775 00:42:19,200 --> 00:42:21,240 saying, oh, you're not going to improve it. 776 00:42:21,520 --> 00:42:23,680 I'm going to take my business somewhere else. 777 00:42:23,680 --> 00:42:30,400 So they can only grandstand and do this for so long until they 778 00:42:30,400 --> 00:42:33,120 continue to lose customers, right. 779 00:42:33,360 --> 00:42:35,280 So that's something to keep in mind. 780 00:42:35,520 --> 00:42:37,240 And now the also the other thing. 781 00:42:37,240 --> 00:42:39,320 Opti, do you have any comments on this before I move on to the 782 00:42:39,320 --> 00:42:43,480 next section? No, I mean, I I think this is 783 00:42:43,480 --> 00:42:47,720 par for the courts. Like you'd have to be asleep or 784 00:42:47,720 --> 00:42:50,360 not thinking critically if you think that the banks aren't 785 00:42:50,360 --> 00:42:53,480 going to fully embrace Bitcoin. And it's just a matter of time 786 00:42:53,480 --> 00:42:56,960 until everyone out there realizes that they need some 787 00:42:56,960 --> 00:42:59,440 Bitcoin ETF exposure. It it wasn't gonna happen 788 00:42:59,440 --> 00:43:02,560 overnight. But continue, continue. 100% OK, 789 00:43:02,760 --> 00:43:07,080 so let's talk about how the SEC reacted to this. 790 00:43:07,080 --> 00:43:09,920 Now. What's absolutely crazy, guys, 791 00:43:09,920 --> 00:43:17,440 is that Larry beat Gary. Larry kicked Gary's metaphorical 792 00:43:17,440 --> 00:43:20,560 ass, right? Clearly the Biden 793 00:43:20,560 --> 00:43:26,520 administration, clearly the SEC did not want to approve this. 794 00:43:26,800 --> 00:43:32,240 But they were under so much pressure from these institutions 795 00:43:32,600 --> 00:43:35,920 that they literally, they they couldn't, they couldn't stop it. 796 00:43:36,000 --> 00:43:37,400 They literally could not stop it. 797 00:43:37,760 --> 00:43:42,600 They lost on the court level. They lot like the the 798 00:43:42,720 --> 00:43:46,760 administrative state, the government forces that were 799 00:43:46,760 --> 00:43:51,320 against the approval of the spot Bitcoin ETF, they could not stop 800 00:43:51,320 --> 00:43:52,600 it. That doesn't mean that they 801 00:43:52,600 --> 00:43:54,720 weren't salty approving this thing. 802 00:43:54,960 --> 00:43:57,880 And that tells me and that actually gives me a little bit 803 00:43:57,880 --> 00:44:01,800 of hope that yeah, governments are going to have a hard time. 804 00:44:01,800 --> 00:44:02,920 Like they're going to have a hard time. 805 00:44:03,040 --> 00:44:05,520 Like, unless you're in like communist China where it's like 806 00:44:05,520 --> 00:44:08,920 a total dictatorship. If you live in a country that 807 00:44:08,920 --> 00:44:13,040 has somewhat of a democracy, as much as the government does not 808 00:44:13,040 --> 00:44:15,680 want to approve it, they're gonna have a really hard time 809 00:44:16,000 --> 00:44:18,920 because the market forces are gonna want it so bad. 810 00:44:19,520 --> 00:44:25,080 So let's take a look at Gary Genzer wrote this entire 811 00:44:25,080 --> 00:44:29,880 response essentially you know what his comments were on the 812 00:44:29,880 --> 00:44:31,240 here it is. Sorry about that. 813 00:44:31,520 --> 00:44:35,320 He wrote entire response on what his comments were on you know 814 00:44:35,320 --> 00:44:39,000 the approval of this it they they they they handled it 815 00:44:39,040 --> 00:44:44,440 terribly like the day before they tweeted out it from the SEC 816 00:44:44,440 --> 00:44:47,560 account. The SEC account was hacked in 817 00:44:47,560 --> 00:44:49,480 the past. They were like, don't trust any 818 00:44:49,480 --> 00:44:51,720 information unless it comes from the SCC. 819 00:44:51,920 --> 00:44:54,400 Their account gets hacked. Then they blame Twitter. 820 00:44:54,920 --> 00:44:58,920 Then it was discovered that that it's because they didn't have 821 00:44:58,920 --> 00:45:01,600 their two FA on like. And then they were telling 822 00:45:01,600 --> 00:45:03,760 people to turn on their two FA. Like, they don't take 823 00:45:03,760 --> 00:45:06,760 responsibility. It's like rules for thee but not 824 00:45:06,760 --> 00:45:08,640 for me. Like, I don't know, it's just 825 00:45:08,640 --> 00:45:10,960 crazy. So he did write like his, you 826 00:45:10,960 --> 00:45:13,520 know, a statement. He was very, very critical. 827 00:45:13,680 --> 00:45:15,640 Salty. Here's Nick Carter. 828 00:45:16,160 --> 00:45:20,120 You know, I think this is like the best part of this, and I 829 00:45:20,160 --> 00:45:23,200 love Nick Carter's comments. I used to flip the board over 830 00:45:23,200 --> 00:45:26,400 when I lost risk or Monopoly, even if I wasn't this sore of a 831 00:45:26,400 --> 00:45:28,880 loser. And here's what Gary Lenzer had 832 00:45:28,880 --> 00:45:32,040 to say. Though we're merit neutral, I'd 833 00:45:32,040 --> 00:45:37,120 note that the underlying assets in the metal ET PS have consumer 834 00:45:37,120 --> 00:45:41,240 and industrial uses, while in contrast, Bitcoin is primarily 835 00:45:41,240 --> 00:45:45,520 primarily a speculative, volatile asset that's also used 836 00:45:45,520 --> 00:45:49,240 for illicit activity including ransomware, money laundering, 837 00:45:49,240 --> 00:45:51,360 sanction evasion, and terrorist financing. 838 00:45:51,600 --> 00:45:55,280 While we approve the listing and trading of certain spot Bitcoin 839 00:45:55,280 --> 00:45:59,520 Etps shares today, we did not approve or endorse Bitcoin. 840 00:45:59,520 --> 00:46:02,640 Investors should remain cautious about the myriad of risk 841 00:46:02,920 --> 00:46:06,840 associated with Bitcoin products whose values tied to crypto like 842 00:46:07,120 --> 00:46:11,080 like Bro like and again like ransomware, Money laundering, 843 00:46:11,080 --> 00:46:12,480 sanction evasion, terrorist financing. 844 00:46:12,680 --> 00:46:17,600 Ladies and gentlemen, 99% of illicit finance is is done 845 00:46:17,600 --> 00:46:19,720 through the traditional financial system. 846 00:46:20,320 --> 00:46:23,400 So like what is he doing? Like it is And this is like a 847 00:46:23,520 --> 00:46:27,520 totally Elizabeth Warren, just like, OK, we have to say 848 00:46:27,520 --> 00:46:31,120 something you know like it it. I have to go back to this OPTI, 849 00:46:31,320 --> 00:46:35,080 this is Elizabeth Warren, this is right now terrorist financing 850 00:46:35,080 --> 00:46:38,240 warrants and Warren, this is financial guidelines. 851 00:46:38,560 --> 00:46:41,480 It's approved like it's so ridiculous. 852 00:46:41,480 --> 00:46:45,280 Anyways, and here's the legendary beauty ion, founder of 853 00:46:45,280 --> 00:46:49,840 Azteco. Great, no KYC way of acquiring 854 00:46:49,840 --> 00:46:51,800 some stats. Before I read what he has to 855 00:46:51,800 --> 00:46:57,880 say, I do wanna read some comments from SEC Commissioner 856 00:46:57,880 --> 00:47:02,320 Crenshaw and it goes on to say I am deeply concerned. 857 00:47:02,320 --> 00:47:05,920 And of course this is commenting on, you know, on the ETF 858 00:47:05,920 --> 00:47:07,840 approval. I am deeply concerned about 859 00:47:07,840 --> 00:47:09,920 today's actions. I am concerned that these 860 00:47:09,920 --> 00:47:12,520 products will flood the markets and land squarely in the 861 00:47:12,520 --> 00:47:16,320 retirement accounts of US households who can at least 862 00:47:16,320 --> 00:47:19,760 afford to lose their savings to the fraud and manipulation that 863 00:47:19,760 --> 00:47:24,280 appears prevalent in the spot Bitcoin markets and will impact 864 00:47:24,280 --> 00:47:25,920 the ETFs. I'm concerned that today's 865 00:47:25,920 --> 00:47:31,240 actions will create the in aim premature of Commission approval 866 00:47:31,520 --> 00:47:35,400 and oversight of the underlying spot markets, when really no 867 00:47:35,400 --> 00:47:38,400 such oversight exists. I am concerned that they will be 868 00:47:38,400 --> 00:47:41,400 confusion about what exactly these products are. 869 00:47:41,800 --> 00:47:45,440 They are not ETFs registered under the Investment Company Act 870 00:47:45,440 --> 00:47:49,480 of 1940, the ubiquitous products that today are used by millions, 871 00:47:49,640 --> 00:47:53,880 savings for retirement, and that investors may infer protections 872 00:47:53,880 --> 00:47:57,360 that do not in fact exist. I'm concerned about what comes 873 00:47:57,360 --> 00:47:59,520 next. What new, potentially more 874 00:47:59,520 --> 00:48:02,600 speculative products bearing greater risk of investor harm 875 00:48:02,760 --> 00:48:06,040 seek to list. We will hear a chorus of well 876 00:48:06,040 --> 00:48:09,560 heeled voices saying that the SE CS hands are tied by the new 877 00:48:09,560 --> 00:48:12,680 standards that we have set. I fear that today we are setting 878 00:48:12,680 --> 00:48:15,520 ourselves up for tomorrow's failure and it will be the 879 00:48:15,520 --> 00:48:18,520 investors that we have a duty to protect who will ultimately pay 880 00:48:18,520 --> 00:48:19,240 the price. OK. 881 00:48:19,400 --> 00:48:20,720 I want to focus on the last part. 882 00:48:23,080 --> 00:48:25,760 I fear that today we are setting ourselves up for tomorrow's 883 00:48:25,760 --> 00:48:28,600 failure and it will be the investors that we have a duty to 884 00:48:28,600 --> 00:48:30,560 protect who will ultimately pay the price. 885 00:48:31,040 --> 00:48:38,400 The first spot Bitcoin ETF was introduced was introduced 10 886 00:48:38,600 --> 00:48:41,200 years ago. You know what the price of 887 00:48:41,200 --> 00:48:48,760 Bitcoin was 10 years ago, $100. Are you protecting the people 888 00:48:48,760 --> 00:48:51,200 that you say you're protecting? Are you protecting them from the 889 00:48:51,200 --> 00:48:54,800 ravages of inflation? Are you protecting them from 890 00:48:54,800 --> 00:48:58,320 that? I don't think it has anything to 891 00:48:58,320 --> 00:49:00,800 do with that. I think it has to do with the 892 00:49:00,800 --> 00:49:06,000 fact that once people get a whiff of the power of saving in 893 00:49:06,000 --> 00:49:09,880 Bitcoin, not trading Bitcoin, the power of using Bitcoin as a 894 00:49:09,880 --> 00:49:16,920 savings mechanism, it reveals the scam of Fiat money. 895 00:49:17,280 --> 00:49:18,960 And I think that's what this is about. 896 00:49:19,640 --> 00:49:22,240 I think that's why the the current administration fought so 897 00:49:22,240 --> 00:49:23,880 hard. I think that's why Elizabeth 898 00:49:23,880 --> 00:49:27,120 Warren fought so hard. I think that's why Gary Gensler, 899 00:49:27,120 --> 00:49:30,120 that we know was working with Elizabeth Warren colluded with 900 00:49:30,120 --> 00:49:32,880 Elizabeth Warren, fought so hard against that. 901 00:49:32,880 --> 00:49:37,800 That's what this is about. This whole message was literally 902 00:49:37,800 --> 00:49:42,640 about trying to protect the government's privilege of being 903 00:49:42,640 --> 00:49:45,480 able to create money for free that everyone else has to work 904 00:49:45,480 --> 00:49:47,800 for. And you can connect it with this 905 00:49:48,480 --> 00:49:50,480 and you can connect it with this. 906 00:49:50,800 --> 00:49:53,480 It's the same wording. That's what it's about. 907 00:49:54,440 --> 00:49:57,520 Because if you actually look at the numbers, what is actually 908 00:49:57,520 --> 00:50:03,640 happened over the last 10 years, this would have done wonders for 909 00:50:03,640 --> 00:50:06,440 investors. It would not have hurt 910 00:50:06,640 --> 00:50:10,120 investors. So again, bull. 911 00:50:10,120 --> 00:50:13,680 I'm calling bullshit here. OK, moving on. 912 00:50:14,480 --> 00:50:16,440 Nick Carter points out something really well. 913 00:50:16,440 --> 00:50:19,480 He says it was the judicial system that did this despite the 914 00:50:19,480 --> 00:50:21,920 best efforts of the executive branch. 915 00:50:22,280 --> 00:50:24,720 The courts are our friends, right? 916 00:50:25,160 --> 00:50:28,000 Because it makes sense. Like they they it didn't make 917 00:50:28,000 --> 00:50:29,920 sense why they weren't approving this. 918 00:50:30,320 --> 00:50:32,960 Here is Tom Emmer. Tom Emmer is the GOP Majority 919 00:50:32,960 --> 00:50:37,280 whip, and he says here to stay. This is a result of an emerging 920 00:50:37,280 --> 00:50:40,360 industry fighting for the future of this country, for for the 921 00:50:40,360 --> 00:50:44,120 future of this country, against tremendous odds and prevailing 922 00:50:44,120 --> 00:50:50,000 over the tyrannical bureaucratic roadblocks 100%. 923 00:50:50,240 --> 00:50:54,320 Now here is really, you know, the cherry on top and I think 924 00:50:54,360 --> 00:50:59,600 the best saying, and this is from an SEC commissioner. 925 00:51:00,520 --> 00:51:02,880 Now, what's really interesting, guys, and I'm going to point 926 00:51:02,880 --> 00:51:05,960 this out, OK, And once again, guys, you guys know that we are 927 00:51:05,960 --> 00:51:08,760 apolitical on simply Bitcoin. I want to emphasize this enough. 928 00:51:09,240 --> 00:51:15,800 I can't emphasize that enough. But those comments from Gary 929 00:51:15,840 --> 00:51:19,760 Genser and from the other commissioner, they're both 930 00:51:19,760 --> 00:51:24,200 Democrats. The comment from Hester Pierce, 931 00:51:24,680 --> 00:51:31,280 she's a Republican and Senator Warren's bill that's in Congress 932 00:51:31,280 --> 00:51:35,000 right now, that would be a de facto ban on self custody and 933 00:51:35,000 --> 00:51:38,240 the mining industry. Even though it's a bipartisan 934 00:51:38,240 --> 00:51:42,840 bill, the vast majority of those 20 senators, I think it's like 935 00:51:42,840 --> 00:51:45,520 two or three Republicans. The vast majority of them are 936 00:51:45,520 --> 00:51:50,120 Democrats. So it's not black and white 937 00:51:50,120 --> 00:51:52,800 clearly. And you guys know that we don't 938 00:51:52,800 --> 00:51:55,640 believe in the traditional, you know, party system. 939 00:51:55,640 --> 00:51:59,000 We don't lean red or blue. We lean orange verse green. 940 00:51:59,720 --> 00:52:03,000 But it is troubling concern. It is a troubling concern. 941 00:52:03,280 --> 00:52:07,080 So if you live in a state, right, I suggest that you look 942 00:52:07,080 --> 00:52:10,480 up who your senator is and who's, who's your 943 00:52:10,480 --> 00:52:15,480 representative. And if they are against Bitcoin, 944 00:52:16,800 --> 00:52:20,920 they're against you holding a money that cannot be debased. 945 00:52:21,920 --> 00:52:26,680 Plain and simple. So anyways, I think this is the 946 00:52:26,760 --> 00:52:32,160 best saying and shout out. Zach Herbert, CEO of CEO and 947 00:52:32,160 --> 00:52:35,840 founder of Foundation make awesome hardware wallets, of 948 00:52:35,880 --> 00:52:41,680 which we recommend the passport. And he posted the screenshot of 949 00:52:41,880 --> 00:52:46,840 Hester Pierce's comments. So first, our arbitrary and 950 00:52:46,840 --> 00:52:49,840 capricious treatment of applications in this area will 951 00:52:49,840 --> 00:52:52,680 continue to harm our reputation far beyond crypto. 952 00:52:53,800 --> 00:52:56,880 Diminished trust from the public will inhibit our ability to 953 00:52:56,880 --> 00:52:58,440 regulate the markets effectively. 954 00:52:59,040 --> 00:53:03,120 Let me ask you guys something. After the debacle yesterday by 955 00:53:03,120 --> 00:53:08,480 the SEC telling you oh you should multi sig your your your 956 00:53:08,480 --> 00:53:14,480 devices, the other thing that they said you should, you know 957 00:53:15,080 --> 00:53:17,880 you should only trust what the SEC has to say. 958 00:53:18,560 --> 00:53:20,800 And then their tweet is literally a tweet that 959 00:53:20,800 --> 00:53:25,120 manipulates the market. What is that but not diminishing 960 00:53:25,120 --> 00:53:29,320 the trust from the public right. This saga will taint future 961 00:53:29,320 --> 00:53:31,960 interactions between the industry and our staff and will 962 00:53:31,960 --> 00:53:35,560 dampen the rich, informative dialogue that best protects 963 00:53:35,560 --> 00:53:39,000 investors. Second, our disproportionate 964 00:53:39,000 --> 00:53:43,560 action on these filings has diverted limited staff resources 965 00:53:43,560 --> 00:53:46,400 away from our critical, our mission critical work. 966 00:53:46,960 --> 00:53:51,720 Over 10 years, likely millions of dollars of staff time has 967 00:53:51,800 --> 00:53:54,640 gone towards blocking these applications. 968 00:53:55,480 --> 00:53:58,440 We've been making the case on Simply Bitcoin for a very long 969 00:53:58,440 --> 00:54:01,440 time that we believed that the reason that they're blocking 970 00:54:01,440 --> 00:54:07,520 this was for political reasons. If that is not a smoking gun, I 971 00:54:07,520 --> 00:54:10,120 don't know what is goes on to say. 972 00:54:10,320 --> 00:54:14,000 Third, our actions have muddied people's understanding of what 973 00:54:14,000 --> 00:54:18,520 the SC CS role is. Congress did not authorize us to 974 00:54:18,520 --> 00:54:21,720 tell people whether a particular investment is right for them. 975 00:54:22,640 --> 00:54:25,440 But we have abused administrative procedures to 976 00:54:25,440 --> 00:54:28,520 withhold investments that we do not like from the public. 977 00:54:30,800 --> 00:54:34,120 That's executive action. That's not democracy. 978 00:54:34,120 --> 00:54:35,920 And you know, you always say that's it's democracy. 979 00:54:35,920 --> 00:54:37,560 It's democracy. First of all, America's not a 980 00:54:37,560 --> 00:54:39,000 Republic. Democracy is a Republic. 981 00:54:39,120 --> 00:54:42,120 It's a represent. It's a representative Republic. 982 00:54:42,360 --> 00:54:46,480 But put that aside, Fine, that ain't democratic. 983 00:54:46,840 --> 00:54:48,560 That's like a dictatorship, right? 984 00:54:48,640 --> 00:54:51,440 Like the said, it's like we agree with this, We don't agree 985 00:54:51,440 --> 00:54:53,760 with this. Like that's the problem 4th. 986 00:54:54,480 --> 00:54:57,880 By failing to follow our normal standards and processes and 987 00:54:57,880 --> 00:55:01,960 considering spot Bitcoin ET PS, we have created an artificial 988 00:55:01,960 --> 00:55:04,280 frenzy among around them. Absolutely true. 989 00:55:04,640 --> 00:55:06,960 Had these products come to market in the way other 990 00:55:06,960 --> 00:55:10,280 comparable products typically have, we would have avoided the 991 00:55:10,280 --> 00:55:14,800 circus atmosphere in which we now find ourselves 100% true 5th 992 00:55:15,240 --> 00:55:18,760 We have alienated a generation of product and innovators within 993 00:55:18,760 --> 00:55:21,360 our space. Our unreasonable approach to 994 00:55:21,360 --> 00:55:24,120 these applications have signaled that regulatory prejudice 995 00:55:24,120 --> 00:55:28,280 against these new products and services can can lead us to 996 00:55:28,280 --> 00:55:31,160 sidestep the law and unreasonably delay product 997 00:55:31,160 --> 00:55:33,720 launches. The industry has logged hundreds 998 00:55:33,720 --> 00:55:36,040 of meetings, has filed submissions, withdrawals and 999 00:55:36,040 --> 00:55:40,440 amendments, and ultimately had to resort to a costly legal 1000 00:55:40,440 --> 00:55:48,480 battle to get us to today. So I I got to say this, is this 1001 00:55:48,480 --> 00:55:51,320 truly a government by the people, for the people. 1002 00:55:51,320 --> 00:55:54,280 I do not believe that's possible as long as Fiat money is a 1003 00:55:54,280 --> 00:55:58,920 thing. What this signifies to me is 1004 00:55:58,920 --> 00:56:03,200 that this is a government that is more interested in protecting 1005 00:56:03,240 --> 00:56:06,480 their privilege. That's what I am, That's what 1006 00:56:06,480 --> 00:56:09,400 I'm seeing here. At least some people are aware 1007 00:56:09,400 --> 00:56:10,800 to that. At least at least some people in 1008 00:56:10,800 --> 00:56:13,400 government, some representatives in government are aware to that. 1009 00:56:14,000 --> 00:56:17,520 Now lastly, before I pass it on to Opti, I think beauty on said 1010 00:56:17,520 --> 00:56:21,040 this perfectly, Beauty on said this beautifully. 1011 00:56:22,200 --> 00:56:29,080 That's very fitting. So Crenshaw started with the 1012 00:56:29,080 --> 00:56:33,360 phrase I am deeply concerned, So beauty on did the same thing. 1013 00:56:34,360 --> 00:56:36,800 I'm deeply concerned. I am concerned. 1014 00:56:36,920 --> 00:56:41,480 I am concerned. I am concerned investors may 1015 00:56:41,480 --> 00:56:43,320 infer. I am concerned. 1016 00:56:43,440 --> 00:56:46,400 I fear we are setting ourselves up for failure. 1017 00:56:46,880 --> 00:56:50,800 No American talks like this. America could not have been 1018 00:56:50,800 --> 00:56:54,160 founded if the people who took risks to sail to her shores 1019 00:56:54,160 --> 00:56:58,480 thought like this. Even after 100 years, Crenshaw 1020 00:56:58,480 --> 00:57:02,280 would still be terrified of Bitcoin and of any change to 1021 00:57:02,280 --> 00:57:04,560 what he already barely understands. 1022 00:57:05,200 --> 00:57:08,520 If Crenshaw were in charge of anything, you would still be 1023 00:57:08,520 --> 00:57:12,800 sending telegrams sent by Morse. America is not Europe. 1024 00:57:13,280 --> 00:57:15,920 It is a country of explorers and risk takers. 1025 00:57:16,200 --> 00:57:20,240 That's why she is so great. Does Grenshaw really think that 1026 00:57:20,240 --> 00:57:24,280 a Bitcoin ETF crash could be bigger than the biggest crashes 1027 00:57:24,520 --> 00:57:27,480 that have come and gone and that everyone survive? 1028 00:57:28,080 --> 00:57:30,480 Survived. What sort of America does 1029 00:57:30,480 --> 00:57:33,880 Crenshaw really want? One that has no risk, no 1030 00:57:33,880 --> 00:57:38,000 innovation, no experimentation. How does Crenshaw think America 1031 00:57:38,000 --> 00:57:40,480 got to the moon and back from drawings on paper? 1032 00:57:41,280 --> 00:57:45,000 If Crenshaw is terrified of Bitcoin, he should use his fear 1033 00:57:45,200 --> 00:57:49,000 of it as a market signal and offer services to investors 1034 00:57:49,000 --> 00:57:52,000 where they're guaranteed of insulation from exposure to it. 1035 00:57:52,760 --> 00:57:55,800 Anyone who is fearful like him can profit from fear, while 1036 00:57:55,800 --> 00:57:58,520 everyone else who wants the risk can take it. 1037 00:57:58,840 --> 00:58:02,320 Why does Crenshaw think his fearful, ignorant and cowardly 1038 00:58:02,320 --> 00:58:05,040 opinion should override the thinking of every other American 1039 00:58:05,040 --> 00:58:08,920 in the US who made him the boss of all these markets? 1040 00:58:09,440 --> 00:58:13,040 Why is his personal fear the gold standard by which everyone 1041 00:58:13,040 --> 00:58:14,960 else must live? It isn't. 1042 00:58:15,520 --> 00:58:18,720 Crenshaw is a template personality for anti Bitcoin or 1043 00:58:18,720 --> 00:58:22,360 anti Americanism. If the American system works, he 1044 00:58:22,360 --> 00:58:25,320 can have his opinion, but it can't prevent anyone from 1045 00:58:25,320 --> 00:58:29,320 experimenting in the market. If Crenshaw wants to live in the 1046 00:58:29,320 --> 00:58:33,640 E in an EU style undemocratic society, he should move to the 1047 00:58:33,640 --> 00:58:37,160 EU, where innovation is dampened and squashed and he can feel 1048 00:58:37,160 --> 00:58:39,960 safe leaving America to Americans. 1049 00:58:40,560 --> 00:58:44,160 And he can watch Americans go to the moon with Bitcoin and then 1050 00:58:44,160 --> 00:58:49,720 go to Mars with Elon Musk's on laptops invented in America. 1051 00:58:51,040 --> 00:58:55,800 As a first generation immigrant, I was sold on that idea of 1052 00:58:55,800 --> 00:59:02,680 America as America being the vanguard of innovation, the 1053 00:59:02,680 --> 00:59:05,800 place that you come for opportunity. 1054 00:59:06,880 --> 00:59:12,880 I was not sold on this Frankenstein Fiat, motherfucking 1055 00:59:12,880 --> 00:59:15,000 version of America. I'm over it. 1056 00:59:15,000 --> 00:59:18,680 It's done. So I'm glad this happened. 1057 00:59:19,040 --> 00:59:22,320 Historic day for Bitcoin and it happened. 1058 00:59:23,320 --> 00:59:28,640 The ETF was approved the day that Hal Finney said he was 1059 00:59:28,640 --> 00:59:34,520 running Bitcoin in 2009 and the day after Bitcoin publicly IPO D 1060 00:59:35,320 --> 00:59:37,960 Absolutely incredible. This is insane. 1061 00:59:37,960 --> 00:59:39,920 This is amazing. I can't believe this. 1062 00:59:41,080 --> 00:59:43,280 Buckle up guys. It just keeps getting better 1063 00:59:43,280 --> 00:59:45,560 from here Anyways, Opti, what's your take on this? 1064 00:59:45,560 --> 00:59:48,360 I almost teared up man. That was that was that beauty 1065 00:59:48,360 --> 00:59:51,600 on, bro. That's some that's some fire 1066 00:59:51,600 --> 00:59:52,760 shit. Some fire shit. 1067 00:59:52,800 --> 00:59:54,960 I. I love the Twitter anyways, 1068 00:59:55,080 --> 00:59:57,920 maybe I'm going to have a little contrarian take to what you're 1069 00:59:57,920 --> 01:00:01,080 saying Nico, because I'm kind of OK with the spot Bitcoin ETF 1070 01:00:01,080 --> 01:00:04,680 taking this long because it gave us all an opportunity to stack 1071 01:00:04,680 --> 01:00:07,600 cheap sats and Wall Street wasn't coming into Bitcoin and 1072 01:00:07,600 --> 01:00:10,560 and able to Co-op Bitcoin when it was still a baby. 1073 01:00:10,920 --> 01:00:13,960 So. I, I, I don't want to ever agree 1074 01:00:13,960 --> 01:00:16,000 with the SEC basically. And I don't want to say they 1075 01:00:16,000 --> 01:00:20,680 actually maybe did do some sense of protecting consumers in in 1076 01:00:20,680 --> 01:00:22,440 like not the way that they think. 1077 01:00:22,600 --> 01:00:25,640 Just so that the Larry Finks of the world didn't come in and 1078 01:00:25,640 --> 01:00:29,120 scoop up all the Bitcoin when it was still a baby and not really 1079 01:00:29,480 --> 01:00:32,840 spreading throughout society. So I'm kind of OK with them 1080 01:00:32,840 --> 01:00:35,440 taking this long to be completely honest, but this does 1081 01:00:35,440 --> 01:00:39,880 mark the beginning. Opti is no longer with simply 1082 01:00:39,880 --> 01:00:42,440 Bitcoin anymore. Opti is a statist. 1083 01:00:42,960 --> 01:00:45,200 No, I'm saying the Well, I don't know. 1084 01:00:45,200 --> 01:00:48,040 Yeah, maybe the. I'm just kidding, bro. 1085 01:00:48,040 --> 01:00:49,840 No, no, no, no. They did something good. 1086 01:00:50,000 --> 01:00:51,320 It's good to have a contrary in it. 1087 01:00:51,760 --> 01:00:53,160 But what's? No, no. 1088 01:00:53,160 --> 01:00:54,640 But what makes you say that? What? 1089 01:00:54,640 --> 01:00:58,040 Makes you well. It's because Bitcoin what the 1090 01:00:58,120 --> 01:01:00,560 man I'm blanking on, the twins, what's their name again? 1091 01:01:00,560 --> 01:01:03,600 The Winklevite. The Winklevite wanted to get an 1092 01:01:03,600 --> 01:01:05,880 ETF approved in like 2015, right? 1093 01:01:06,040 --> 01:01:09,280 Bitcoin was still a baby. Like, we didn't even go through 1094 01:01:09,280 --> 01:01:12,240 the fork wars. We couldn't even, we fully 1095 01:01:12,240 --> 01:01:17,440 didn't have a public war or a public example of who actually 1096 01:01:17,440 --> 01:01:21,120 controls Bitcoin. You know in 20/16/2017, the 1097 01:01:21,120 --> 01:01:24,280 thought was that businesses you know, businesses controlled 1098 01:01:24,280 --> 01:01:26,840 Bitcoin and miners controlled Bitcoin. 1099 01:01:27,160 --> 01:01:30,120 And if we had gotten an ETF approved by then, I'm sure that 1100 01:01:30,120 --> 01:01:32,920 Wall Street would have put their the might of the money printer 1101 01:01:32,920 --> 01:01:35,160 behind whatever fork coin they wanted. 1102 01:01:35,160 --> 01:01:38,320 And we, we made it end up in a place where Bitcoin becomes at 1103 01:01:38,320 --> 01:01:42,400 dystopian tracking tool that we all want to avoid that we see 1104 01:01:42,400 --> 01:01:44,200 coming down the pipeline with CBD, CS. 1105 01:01:44,200 --> 01:01:48,800 And so I think in in in like kind of a backwards roundabout 1106 01:01:48,800 --> 01:01:50,880 way. The fact that it took this long 1107 01:01:50,880 --> 01:01:54,680 and maybe it was political. Maybe it was Elizabeth Warren 1108 01:01:54,680 --> 01:01:59,000 and Co you know talking to Gary and making sure that this ETF 1109 01:01:59,000 --> 01:02:00,960 wasn't approved on his watch or what have you. 1110 01:02:00,960 --> 01:02:04,320 You guys can speculate on all of the reasons why it took this 1111 01:02:04,320 --> 01:02:06,520 long. I I think it's kind of a good 1112 01:02:06,520 --> 01:02:09,640 thing that it took this long because now Wall Street has to 1113 01:02:09,640 --> 01:02:15,120 scramble for what the last 1.5 million coins and then most of 1114 01:02:15,120 --> 01:02:18,600 Bitcoin is in cold storage. So I'm kind of OK with it taking 1115 01:02:18,600 --> 01:02:20,920 this long. Of course now this kind of gives 1116 01:02:20,920 --> 01:02:24,200 us legitimacy. Like I I was thinking when this 1117 01:02:24,200 --> 01:02:26,440 got approved, like what What would my dad say right now? 1118 01:02:26,440 --> 01:02:27,840 You know he's a boomer. I love him. 1119 01:02:28,040 --> 01:02:30,640 He loves gold. He even tries to shill silver on 1120 01:02:30,640 --> 01:02:33,120 me sometimes. With my dad it it is Bitcoin. 1121 01:02:33,120 --> 01:02:35,680 Come on, man. Anyways, I I like, I haven't had 1122 01:02:35,680 --> 01:02:38,520 an actual conversation with him, but I did kind of text him and 1123 01:02:38,520 --> 01:02:41,560 for people like him and not not the cool boomers that hang out 1124 01:02:41,560 --> 01:02:43,560 with us, that know why Bitcoin is important. 1125 01:02:43,920 --> 01:02:47,600 Everyone else like this gives us some legitimacy and they're like 1126 01:02:47,720 --> 01:02:50,280 the adults are here. That's why I was trolling and 1127 01:02:50,280 --> 01:02:54,280 wearing a pseudo suit because that's the game being played 1128 01:02:54,280 --> 01:02:56,080 like we have some sense of legitimacy. 1129 01:02:56,080 --> 01:03:00,200 We wear suits now, take us seriously, and Bitcoin doesn't 1130 01:03:00,200 --> 01:03:03,560 need that. But this is where we are and for 1131 01:03:03,560 --> 01:03:06,400 better or worse, people do look at authority figures for 1132 01:03:06,400 --> 01:03:09,360 legitimacy. And now for for better or worse 1133 01:03:09,360 --> 01:03:12,280 guys, we have that legitimacy now that Wall Street is getting 1134 01:03:12,280 --> 01:03:16,520 exposure to Bitcoin. So with all that being said, I 1135 01:03:16,520 --> 01:03:22,760 am also very tired of the nanny state and that, like in my 1136 01:03:22,760 --> 01:03:26,080 opinion, it's really insulting that that they, without saying 1137 01:03:26,080 --> 01:03:28,400 it, they're like, yeah, you're too stupid to know what you can 1138 01:03:28,400 --> 01:03:30,840 invest in. Like you need our protection so 1139 01:03:30,840 --> 01:03:33,280 that you know you don't wreck yourself like you stupid 1140 01:03:33,280 --> 01:03:35,200 peasant. Like to me, that's what I hear 1141 01:03:35,200 --> 01:03:36,560 every time I hear stuff like this. 1142 01:03:36,560 --> 01:03:38,480 And of course it's always about control. 1143 01:03:38,680 --> 01:03:42,560 They can say whatever they want about, oh, we're here to protect 1144 01:03:42,560 --> 01:03:44,560 the consumer. And Nico, that tweet you put up 1145 01:03:44,560 --> 01:03:48,360 yesterday about protecting the consumer with their hacked SEC 1146 01:03:48,360 --> 01:03:51,800 account and the market dumped, like they can't even protect 1147 01:03:51,800 --> 01:03:53,440 their Twitter account and they're here to protect the 1148 01:03:53,440 --> 01:03:55,320 markets. Like, it's it's just Keynesian 1149 01:03:55,320 --> 01:03:58,400 hubris, in my opinion. But hey, this is where we are. 1150 01:03:58,400 --> 01:04:01,360 The nanny state's going to nanny state and it's always about 1151 01:04:01,360 --> 01:04:04,920 control. But now we have the price 1152 01:04:04,920 --> 01:04:07,040 exposure from Wall Street and everyone and their mothers 1153 01:04:07,040 --> 01:04:10,520 scrambling to be the top dog in these ETFs. 1154 01:04:10,520 --> 01:04:12,480 And like, this is where we are in the story. 1155 01:04:12,480 --> 01:04:17,080 So hopefully we don't have to talk about an ETF. 1156 01:04:17,960 --> 01:04:20,200 Anymore. No, it's over now. 1157 01:04:20,200 --> 01:04:21,680 It's time. It's it's over dude. 1158 01:04:21,680 --> 01:04:23,600 Like, I mean like what is? What else is there to? 1159 01:04:23,600 --> 01:04:26,400 Say like we've been covering it for so long, you know, macro, 1160 01:04:26,400 --> 01:04:31,000 macro, macro, but macro, macro, yeah, man, like here we are. 1161 01:04:31,280 --> 01:04:33,840 It's going to be interesting to recap maybe in a couple of 1162 01:04:33,840 --> 01:04:37,960 months and see who the top three ETFs are and and the flows going 1163 01:04:37,960 --> 01:04:39,920 in. And anyways, we are running 1164 01:04:39,920 --> 01:04:42,400 long, Mika, so if we're gonna do the culture, maybe we should do 1165 01:04:42,400 --> 01:04:44,080 that real. Quick let's absolutely do the 1166 01:04:44,080 --> 01:04:46,600 culture. But first, I do want to give a 1167 01:04:46,600 --> 01:04:52,120 shout out to Max. They are the most trusted place 1168 01:04:52,120 --> 01:04:55,360 to buy, sell, host mining equipment. 1169 01:04:55,600 --> 01:04:59,920 If you're interested in getting into Bitcoin mining, you guys 1170 01:04:59,920 --> 01:05:03,080 got to check out kaboom racks. I made it super easy for you 1171 01:05:03,080 --> 01:05:04,480 guys. You have no excuse. 1172 01:05:04,480 --> 01:05:08,120 You could scan the QR code on your screen right now. 1173 01:05:08,120 --> 01:05:11,640 Will take you directly to the Kaboom racks marketplace where 1174 01:05:11,640 --> 01:05:15,680 you could connect with a with a member of their awesome sales 1175 01:05:15,680 --> 01:05:17,240 team. They make purchasing their 1176 01:05:17,240 --> 01:05:21,440 products easy and transparent. You could also sell your Bitcoin 1177 01:05:21,440 --> 01:05:22,600 mining A6. With them. 1178 01:05:22,600 --> 01:05:26,320 You could access their vast network of domestic and 1179 01:05:26,320 --> 01:05:30,240 international customers when you sell your mining equipment with 1180 01:05:30,240 --> 01:05:31,920 them. What are you waiting for? 1181 01:05:31,920 --> 01:05:37,160 Start your Bitcoin mining utopia today with Cabin Rex. 1182 01:05:37,360 --> 01:05:39,320 All right everybody, let's get to the culture. 1183 01:05:39,400 --> 01:05:40,680 We have a lot to talk about today. 1184 01:05:40,680 --> 01:05:47,040 Let's check it out. 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All right guys, so I'm going to 1191 01:06:10,880 --> 01:06:13,200 do this quick since the news was very long. 1192 01:06:13,720 --> 01:06:16,680 But anyways, I said I wanted to kind of talk about the framing 1193 01:06:16,680 --> 01:06:20,080 here and what does bitcoiners think and this is the culture. 1194 01:06:20,080 --> 01:06:22,200 Anyways, so we're going to tell you what we think. 1195 01:06:22,200 --> 01:06:24,600 This is the point of this what what I think the best things to 1196 01:06:24,600 --> 01:06:26,320 be doing. So shouts out to my boy Don Bay. 1197 01:06:26,880 --> 01:06:29,280 He tweeted this this morning. Bitcoin is front and center 1198 01:06:29,280 --> 01:06:32,560 homepage for BlackRock, bitwise Vanex and Templeton and you guys 1199 01:06:32,560 --> 01:06:35,520 can see the screen share here. You know BlackRock, their 1200 01:06:35,520 --> 01:06:37,840 iShares. Everyone's pumping their ETS. 1201 01:06:37,920 --> 01:06:41,800 They're you know, they're all on the first page. 1202 01:06:41,800 --> 01:06:44,160 It's front and center. We're getting Wall Street 1203 01:06:44,160 --> 01:06:47,040 marketing Bitcoin on one hand, you love to see it. 1204 01:06:47,040 --> 01:06:50,200 On the other hand, you shouldn't be buying the spot Bitcoin ETF. 1205 01:06:50,840 --> 01:06:53,080 Take Bitcoin into custody. This is basically what the 1206 01:06:53,080 --> 01:06:55,200 rant's going to be today. But anyways, last week we saw 1207 01:06:55,200 --> 01:06:57,920 this come out from the Financial Times and opinion piece. 1208 01:06:57,920 --> 01:07:00,960 This guy said my new New Year's resolution is Bitcoin. 1209 01:07:01,120 --> 01:07:05,220 So we're seeing already that people just with the quote, UN 1210 01:07:05,220 --> 01:07:09,400 quote legitimacy of the black rocks the institutions, Wall 1211 01:07:09,400 --> 01:07:13,720 Street's getting into Bitcoin and wanting exposure of Bitcoin 1212 01:07:13,720 --> 01:07:17,240 and and of course, you know the the the regulatory attempt to 1213 01:07:17,240 --> 01:07:22,000 capture Bitcoin, good thing most Bitcoin is in custody and they 1214 01:07:22,000 --> 01:07:24,200 can't stop Bitcoin. Yes they can try to put a 1215 01:07:24,200 --> 01:07:27,680 wrapper on it and try to funnel as much Bitcoin as possible but 1216 01:07:27,880 --> 01:07:30,960 they're going to try to you know pump up the price and and sell 1217 01:07:31,800 --> 01:07:34,000 force you to sell your Bitcoin via incentives. 1218 01:07:34,000 --> 01:07:36,920 Anyways we were all kind of talking about what was going on 1219 01:07:36,920 --> 01:07:41,160 with the Bitcoin price. Of course I don't like to show 1220 01:07:41,160 --> 01:07:43,840 the charts too much here but it seemed like it was a sell the 1221 01:07:43,840 --> 01:07:46,560 news story or did pump to like 49 K this morning. 1222 01:07:46,880 --> 01:07:50,520 I think what most of us didn't realize or rather most people 1223 01:07:50,520 --> 01:07:53,600 out there didn't realize. It's like all the flows of of 1224 01:07:53,600 --> 01:07:56,680 capital aren't going to overnight go into Bitcoin like 1225 01:07:56,680 --> 01:07:58,400 your parent. Like I I'm seeing people in the 1226 01:07:58,400 --> 01:08:00,600 chat say like now my dad wants to buy some Bitcoin. 1227 01:08:00,600 --> 01:08:03,720 So this process is going to take a little bit where people now 1228 01:08:03,720 --> 01:08:06,480 are going on. I don't know BlackRock, Vanek, 1229 01:08:06,760 --> 01:08:09,200 all the websites now of Wall Street and they're like oh wow 1230 01:08:09,200 --> 01:08:11,040 OK Bitcoin ETF just got released. 1231 01:08:11,040 --> 01:08:12,680 Cool. Maybe I need to look into this. 1232 01:08:12,680 --> 01:08:16,080 This is that market signal showing that hey, Bitcoin has 1233 01:08:16,080 --> 01:08:18,359 some legitimacy. It's maybe not just for 1234 01:08:18,359 --> 01:08:21,880 criminals and money launderers and shadowy super coders and 1235 01:08:21,880 --> 01:08:26,439 whatever they call us, but I think what we're missing is 1236 01:08:26,439 --> 01:08:28,960 summed up great in this tweet shots of the Charles Edwards 1237 01:08:28,960 --> 01:08:32,080 because the ETF news is massive, but no one is even talking about 1238 01:08:32,080 --> 01:08:36,600 Bitcoins, biggest having ever on April roughly April 19th, 2024. 1239 01:08:36,920 --> 01:08:39,279 It's just three months away and it will be the first time that 1240 01:08:39,279 --> 01:08:42,720 Bitcoin becomes harder than gold, which historically has 1241 01:08:42,720 --> 01:08:45,800 been the best store value. So as we know we're going into 1242 01:08:45,800 --> 01:08:48,840 the having it's a couple months away, the ETF is cool. 1243 01:08:48,840 --> 01:08:52,040 It's obviously been a lot of speculation and if you're 1244 01:08:52,040 --> 01:08:54,560 looking at the price, it's kind of a nothing burger right now. 1245 01:08:54,960 --> 01:08:58,399 I I think it'll just be a slow delay of people getting their 1246 01:08:58,399 --> 01:09:00,840 capital in the Bitcoin. We're seeing a dump right now 1247 01:09:00,840 --> 01:09:04,800 because I think people are dropping from GBTC into other 1248 01:09:05,080 --> 01:09:08,200 ETFs and we got CPI numbers today and it seems like the 1249 01:09:08,200 --> 01:09:10,760 whole market's in negative. Anyways, shouts out the Marty 1250 01:09:10,760 --> 01:09:13,160 bank because he summed it up great and he goes trad 5 Bitcoin 1251 01:09:13,160 --> 01:09:15,680 ETF Influencers really don't understand Bitcoin. 1252 01:09:15,680 --> 01:09:18,279 The dollar's complete, the basement is inevitable and 1253 01:09:18,279 --> 01:09:21,640 people are going to need direct access to the next reserve 1254 01:09:21,640 --> 01:09:25,680 currency AKA Bitcoin to operate through the economy and and ETS 1255 01:09:25,680 --> 01:09:28,640 don't enable that. And as we tell you guys all the 1256 01:09:28,640 --> 01:09:31,680 time, This is why it is self custody or slavery. 1257 01:09:31,680 --> 01:09:34,359 As Nico tweeted, This is why you run the nodes. 1258 01:09:34,520 --> 01:09:38,160 This is why we constantly tell you and try to inform you the 1259 01:09:38,160 --> 01:09:41,840 best ways to take Bitcoin off exchanges, to transact 1260 01:09:41,840 --> 01:09:44,399 peer-to-peer. Because what really matters is 1261 01:09:44,399 --> 01:09:47,600 people holding self custody and before XX starts yelling me 1262 01:09:47,600 --> 01:09:50,520 yelling at me in the chat about billionaires and boomers not 1263 01:09:50,520 --> 01:09:53,640 wanting to take their assets into self custody, we totally 1264 01:09:53,640 --> 01:09:55,960 understand this. We totally understand that if 1265 01:09:55,960 --> 01:10:00,200 you have money in a 401K or whatever, you can't at least as 1266 01:10:00,200 --> 01:10:03,840 of now get exposure to Bitcoin. So of course some exposure to 1267 01:10:03,840 --> 01:10:06,120 Bitcoin is better than no exposure to Bitcoin as far as 1268 01:10:06,120 --> 01:10:09,240 I'm concerned. And so I think that spot Bitcoin 1269 01:10:09,240 --> 01:10:11,400 ETF, even though it's been hyped up and we've been talking about 1270 01:10:11,400 --> 01:10:16,840 it for forever now and we do have the three steps to taking 1271 01:10:16,840 --> 01:10:20,720 Bitcoin 25 million that Sailor was saying, which was what an 1272 01:10:20,720 --> 01:10:25,160 ETF, the FASB rule change banks custody and Bitcoin. 1273 01:10:25,160 --> 01:10:26,840 Which I personally don't like the banks custody. 1274 01:10:27,000 --> 01:10:28,280 But that's a totally other story. 1275 01:10:28,280 --> 01:10:31,200 Even how Finney was talking about the fact in the earliest 1276 01:10:31,200 --> 01:10:33,800 days of Bitcoin that there will be full reserve bitcoins and 1277 01:10:33,800 --> 01:10:36,560 there will be fractional reserve bitcoins and the market will 1278 01:10:36,560 --> 01:10:38,520 learn their lessons the hard way. 1279 01:10:38,520 --> 01:10:43,400 So hey, if it's a matter of Wall Street pumping our bags to teach 1280 01:10:43,400 --> 01:10:46,760 Wall Street a lesson about custody, I am all for this, I'm 1281 01:10:46,760 --> 01:10:49,240 here for this. But you as the individual out 1282 01:10:49,240 --> 01:10:52,760 there take custody of your Bitcoin. 1283 01:10:52,920 --> 01:10:57,040 Yes, I do think this year is going to be an important year in 1284 01:10:57,040 --> 01:11:00,160 because in regards to bitcoins price action, now that we do 1285 01:11:00,160 --> 01:11:03,080 have Wall Street money, being able to get exposure to Bitcoin, 1286 01:11:03,280 --> 01:11:06,360 I think we're going to see a slow grind up again. 1287 01:11:06,680 --> 01:11:10,200 You know, maybe the response in the price was lackluster, but I 1288 01:11:10,200 --> 01:11:14,440 I think everyone was was smoking the hopium and thinking that the 1289 01:11:14,440 --> 01:11:17,600 Bitcoin price was just going to go absolutely parabolic on the 1290 01:11:17,680 --> 01:11:21,240 release of an ETF. But hey, we saw what happened 1291 01:11:21,240 --> 01:11:27,280 after the SEC hack tweet and all the short all the longs got 1292 01:11:27,280 --> 01:11:29,400 liquidated. So here we are, this is where we 1293 01:11:29,400 --> 01:11:32,760 are in the story guys. So again, I did this as quickly 1294 01:11:32,760 --> 01:11:34,200 as possible because we are running late. 1295 01:11:34,200 --> 01:11:38,360 But TLDR guys, yes spot Bitcoin ETF gives us legitimacy. 1296 01:11:38,400 --> 01:11:42,560 Like that tweet? Oh yeah, Like, yeah, simply, We 1297 01:11:42,800 --> 01:11:43,880 didn't retweet. We'll retweet. 1298 01:11:43,880 --> 01:11:48,720 We'll retweet What I said. Yes, it gives us legitimacy, but 1299 01:11:48,720 --> 01:11:52,880 you guys out there should be buying spot Bitcoin, not the 1300 01:11:52,880 --> 01:11:54,320 ETF. Just a real. 1301 01:11:54,320 --> 01:11:55,840 Bitcoin. Just buy a real Bitcoin. 1302 01:11:56,320 --> 01:11:58,960 Be a pure coiner. Use real bitcoiner. 1303 01:12:00,280 --> 01:12:04,120 And like all this noise, this is all noise, This is Wall Street 1304 01:12:04,120 --> 01:12:06,160 trying to pump their bags and get into the game. 1305 01:12:06,160 --> 01:12:10,880 And like we're seeing, we're seeing that Wall Street and 1306 01:12:10,880 --> 01:12:13,160 government officials are trying to capture Bitcoin. 1307 01:12:13,160 --> 01:12:14,520 They're trying to regulate Bitcoin. 1308 01:12:14,720 --> 01:12:16,800 And the best way to protect yourself is running the nodes 1309 01:12:16,800 --> 01:12:20,400 taking Bitcoin into custody. Yes, maybe your dad never going 1310 01:12:20,400 --> 01:12:23,600 to hold Bitcoin directly and he just wants exposure to it. 1311 01:12:23,920 --> 01:12:25,880 This is, this is all good for Bitcoin. 1312 01:12:26,040 --> 01:12:32,200 And on that note, Nico, we have been getting some some comments 1313 01:12:32,200 --> 01:12:37,000 on our YouTube about you guys watching the channel. 1314 01:12:37,000 --> 01:12:40,400 I don't know if you guys are trolling us, but you guys, you 1315 01:12:40,400 --> 01:12:45,000 guys say you love the channel and you are asking us to help 1316 01:12:45,000 --> 01:12:46,760 you to walk you through one-on-one. 1317 01:12:46,760 --> 01:12:50,080 We have multiple of these. So this is just something we're 1318 01:12:50,080 --> 01:12:52,680 floating around. Guys like you we give you guys 1319 01:12:52,680 --> 01:12:54,520 the sauce every single day on the show. 1320 01:12:54,520 --> 01:12:57,800 You guys can learn how to do Bitcoin like for free on the 1321 01:12:57,800 --> 01:12:59,880 show. I do my best on the culture to 1322 01:12:59,880 --> 01:13:04,240 give you guys actionable advice. You know our boy BTC sessions is 1323 01:13:04,240 --> 01:13:08,120 doing the tutorials on how to do this correctly but we understand 1324 01:13:08,120 --> 01:13:10,400 that people are afraid. So I don't know. 1325 01:13:10,400 --> 01:13:13,400 Let us know in the chat or in the comments of YouTube if you 1326 01:13:13,400 --> 01:13:15,640 guys would want us to give you one-on-one. 1327 01:13:16,240 --> 01:13:19,040 You know hand holding here and showing you guys how to take 1328 01:13:19,040 --> 01:13:22,200 Bitcoin into custody. But like I I do my best to show 1329 01:13:22,200 --> 01:13:26,480 you guys for free on the channel and it this is what you need to 1330 01:13:26,480 --> 01:13:28,560 do. Guys, yes, Bitcoin ETF is cool. 1331 01:13:28,560 --> 01:13:32,320 Yes, we're going to have the Wall Street marketing team 1332 01:13:32,320 --> 01:13:36,200 market Bitcoin, and now everyone and their mother will know 1333 01:13:36,200 --> 01:13:37,920 Bitcoin. They'll they'll at least be 1334 01:13:37,920 --> 01:13:41,200 exposed to the signal. But you didn't take Bitcoin into 1335 01:13:41,200 --> 01:13:43,840 custody. Most Bitcoin is already in 1336 01:13:43,840 --> 01:13:45,800 custody, and I've been saying for a while, you're going to 1337 01:13:45,800 --> 01:13:46,880 have to make it through the huddle. 1338 01:13:46,880 --> 01:13:49,600 Buyout zone. BlackRock will have to. 1339 01:13:49,600 --> 01:13:51,320 Or Wall Street. Whatever you want to use, 1340 01:13:51,320 --> 01:13:53,000 whatever nomenclature you want to use, we'll have to 1341 01:13:53,000 --> 01:13:55,400 incentivize you to sell your Bitcoin. 1342 01:13:55,600 --> 01:14:00,080 But if you've been watching this show for a while, then you 1343 01:14:00,080 --> 01:14:02,320 should know why you hold Bitcoin. 1344 01:14:02,440 --> 01:14:07,240 And again, I I referenced the white paper like every single 1345 01:14:07,240 --> 01:14:10,480 time I bring this up, it was literally the first paragraph or 1346 01:14:10,480 --> 01:14:12,480 the second paragraph in the white paper. 1347 01:14:12,960 --> 01:14:16,400 The reason for the creation of Bitcoin is so you don't have to 1348 01:14:16,400 --> 01:14:20,560 trust middle men, You don't need trusted third parties to 1349 01:14:20,560 --> 01:14:25,520 interact with your money. So on that note, I would not 1350 01:14:25,520 --> 01:14:29,960 trust these institutions to custody your Bitcoin. 1351 01:14:29,960 --> 01:14:33,040 Yes, if if for whatever reason you have your 401K and you can't 1352 01:14:33,040 --> 01:14:36,560 get spot Bitcoin directly, you know exposure to bitcoins better 1353 01:14:36,560 --> 01:14:39,600 than no exposure to Bitcoin, and I would want that too. 1354 01:14:40,000 --> 01:14:43,000 But you don't need to trust the trusted third parties. 1355 01:14:43,320 --> 01:14:47,320 If you can, and most of you can, you just buy Bitcoin directly. 1356 01:14:47,760 --> 01:14:51,520 You either transact peer-to-peer or you use an exchange. 1357 01:14:51,800 --> 01:14:55,280 Or you know you just sell your goods and services for Bitcoin 1358 01:14:55,560 --> 01:14:59,200 but you want to set up a wallet that you own the keys because 1359 01:14:59,200 --> 01:15:01,560 then you can avoid the rug pools. 1360 01:15:01,560 --> 01:15:05,600 And the rug pools will continue until self custody improves. 1361 01:15:06,680 --> 01:15:11,840 So guys, we have the marketing team of Wall Street now chugging 1362 01:15:11,840 --> 01:15:15,120 along pumping Bitcoin. And I think this year we will 1363 01:15:15,120 --> 01:15:18,080 see a increase in price movement, an increase in 1364 01:15:18,080 --> 01:15:20,480 liquidity and volume going into Bitcoin. 1365 01:15:20,840 --> 01:15:24,800 And yeah, maybe, maybe the release of today of the ETFs was 1366 01:15:24,800 --> 01:15:27,360 lacklustre because everyone thought it was just going to go 1367 01:15:27,360 --> 01:15:30,960 absolutely nuclear. It's just part par for the 1368 01:15:30,960 --> 01:15:33,080 course, guys. Make sure you're taking custody 1369 01:15:33,360 --> 01:15:37,120 of your Bitcoin control. The keys transact peer-to-peer. 1370 01:15:37,880 --> 01:15:41,680 Hold that Bitcoin long term, it is the best store of value in 1371 01:15:41,680 --> 01:15:44,240 the world. Anyways, Nico, we are going long 1372 01:15:44,240 --> 01:15:46,080 so. We are, we are, we are going 1373 01:15:46,080 --> 01:15:50,160 long. We have a chat about 3038%. 1374 01:15:50,160 --> 01:15:53,520 It is like it is like kind of live about 35. 1375 01:15:53,560 --> 01:15:58,760 Thirty 40% of you guys 36 votes said that you do want us to 1376 01:15:58,760 --> 01:16:02,720 offer one on ones to help you take self custody. 1377 01:16:02,720 --> 01:16:05,320 About 60% of you guys, I'm assuming you are you guys are 1378 01:16:05,320 --> 01:16:07,360 already hardcore bitcoiners and you already know how to take 1379 01:16:07,360 --> 01:16:10,440 self custody. 60% of you guys said no. 1380 01:16:11,080 --> 01:16:14,720 So it looks like there is a portion of you guys that you 1381 01:16:14,720 --> 01:16:16,560 know could potentially want that. 1382 01:16:17,000 --> 01:16:18,600 We're going to discuss it internally. 1383 01:16:18,800 --> 01:16:21,520 It's just we've been seeing these comments and then we're 1384 01:16:21,520 --> 01:16:23,440 just kind of like that's interesting. 1385 01:16:23,560 --> 01:16:27,840 I also do want to mention BTC sessions is incredible tutorials 1386 01:16:27,840 --> 01:16:29,440 guys. If like if you're new to this 1387 01:16:30,600 --> 01:16:33,960 and you know you could check out like literally he will literally 1388 01:16:33,960 --> 01:16:37,160 walk you through in a video how to take self custody. 1389 01:16:37,320 --> 01:16:42,520 He also offers one on ones. So anyways it's something for us 1390 01:16:42,520 --> 01:16:47,440 to discuss internally and talk about but but yeah guys if it's 1391 01:16:47,440 --> 01:16:50,160 you know ETF Bitcoin is captured Bitcoin. 1392 01:16:50,160 --> 01:16:55,360 It's not real Bitcoin. Real Bitcoin is Bitcoin in self 1393 01:16:55,440 --> 01:16:56,880 custody. So learn how to do it. 1394 01:16:57,080 --> 01:17:01,960 Literally guys, I'm going to the sponsors and partners that we 1395 01:17:01,960 --> 01:17:04,120 partner with. Like literally. 1396 01:17:04,200 --> 01:17:08,240 Like, we literally show you the products to do this with. 1397 01:17:08,320 --> 01:17:10,560 Get yourself a passport hardware wallet. 1398 01:17:10,600 --> 01:17:11,920 I got both of. Them too, Nika. 1399 01:17:11,920 --> 01:17:17,040 All right, so you get a hardware wallet, a passport by 1400 01:17:17,040 --> 01:17:21,600 foundation, you set it up, and then you put your seed phrase on 1401 01:17:21,600 --> 01:17:24,480 titanium. So if your house burns down or 1402 01:17:24,480 --> 01:17:27,720 whatever your seed phrase is in with. 1403 01:17:27,760 --> 01:17:29,520 This hammer. Like literally like this. 1404 01:17:29,680 --> 01:17:31,280 Is pretty much all you need to do. 1405 01:17:31,280 --> 01:17:35,440 But I honestly, in in fairness Nico, I do remember the first 1406 01:17:35,440 --> 01:17:38,000 time I did my first Bitcoin transaction. 1407 01:17:38,440 --> 01:17:41,240 Throw tomatoes all you want. You know, I was on Coinbase back 1408 01:17:41,240 --> 01:17:44,920 in the day and I I think I bought like my first $100 and 1409 01:17:44,920 --> 01:17:47,160 then finally on Twitter, they're like take custody of your 1410 01:17:47,160 --> 01:17:49,400 Bitcoin and you know, you know, I'm a millennial. 1411 01:17:49,400 --> 01:17:52,400 I'm pretty computer savvy. I wouldn't say I'm a computer 1412 01:17:52,400 --> 01:17:54,160 illiterate. I I, you know, I use, I use a 1413 01:17:54,160 --> 01:17:57,040 phone, I use an Apple phone. So I'm, I'm kind of computer 1414 01:17:57,040 --> 01:17:58,080 illiterate, you know what I'm saying? 1415 01:17:58,280 --> 01:18:00,840 But anyways, I remember sitting there and it was late at night. 1416 01:18:00,840 --> 01:18:02,160 It was dark. I had no lights on. 1417 01:18:02,160 --> 01:18:05,600 I was watching Andres Ontonopoulos and I sent myself a 1418 01:18:05,680 --> 01:18:08,680 transaction. And before I really knew how it 1419 01:18:08,680 --> 01:18:11,720 worked, there was like a moment where I thought, wow, maybe 1420 01:18:12,440 --> 01:18:16,160 maybe I just lost that $100. So I really do know that there 1421 01:18:16,160 --> 01:18:19,840 is a mental leap. And look, hey, we all know how 1422 01:18:19,880 --> 01:18:23,520 easy it is to use an iPhone, but there's still like the Apple IT 1423 01:18:23,520 --> 01:18:26,160 team, you know, like that's that's still a thing. 1424 01:18:26,160 --> 01:18:29,720 People don't understand how technology works and this is 1425 01:18:29,720 --> 01:18:32,040 what we're all doing here guys. This is why you're the Uncle Jim 1426 01:18:32,040 --> 01:18:35,440 for your family and stuff is because there is a certain 1427 01:18:35,440 --> 01:18:40,760 learning curve to being sovereign and we want to help 1428 01:18:40,760 --> 01:18:43,040 everyone as much as possible. We're going to constantly give 1429 01:18:43,040 --> 01:18:49,760 you guys the free show, so but you know if if tutorials scare 1430 01:18:49,760 --> 01:18:52,160 you we'll we'll be talking about this. 1431 01:18:52,160 --> 01:18:54,960 But guys, you need to take custody of your Bitcoin. 1432 01:18:54,960 --> 01:18:58,080 It is the most important thing as far as I'm concerned. 100 1433 01:18:58,080 --> 01:19:00,280 percent, 100% All right, everybody. 1434 01:19:00,560 --> 01:19:02,560 That was our episode for Thursday. 1435 01:19:02,560 --> 01:19:06,480 I hope you enjoyed it. The new segment was long and you 1436 01:19:06,480 --> 01:19:08,720 know, we appreciate you guys for sticking it out. 1437 01:19:08,920 --> 01:19:11,080 If you guys enjoyed the show, you know what to do. 1438 01:19:11,280 --> 01:19:14,000 Smash that like button. Consider subscribing if you feel 1439 01:19:14,000 --> 01:19:16,240 like we provided you value. But the number one thing you 1440 01:19:16,240 --> 01:19:20,080 could do to spread the peaceful Bitcoin revolution is share 1441 01:19:20,080 --> 01:19:22,960 Bitcoin called share Bitcoin culture. 1442 01:19:22,960 --> 01:19:26,200 Share Bitcoin content, share Bitcoin podcast, share Bitcoin 1443 01:19:26,200 --> 01:19:30,200 music, the memes, everything. Breitbart said it best, right? 1444 01:19:30,640 --> 01:19:32,880 Politics is downstream from culture. 1445 01:19:32,880 --> 01:19:35,200 We take over the culture, that's how we win this. 1446 01:19:35,640 --> 01:19:40,040 But I think this spot Bitcoin ETF, despite all the pushback 1447 01:19:40,040 --> 01:19:43,640 from the executive branch, is a major, major, major win. 1448 01:19:43,840 --> 01:19:46,800 The Trojan Horse is inside the gates. 1449 01:19:46,800 --> 01:19:48,040 And anyway, look at before we go. 1450 01:19:48,080 --> 01:19:50,960 Before we go, Congratulations, we fret right last week. 1451 01:19:51,480 --> 01:19:56,120 Let's. Go give, give you guys. 1452 01:19:56,480 --> 01:20:00,200 Get, get, give you guys a pat. Give yourselves a pat on the 1453 01:20:00,200 --> 01:20:02,040 back. Anyways, guys, we love you. 1454 01:20:02,040 --> 01:20:04,120 We appreciate you. We'll be back tomorrow for 1455 01:20:04,520 --> 01:20:06,640 another episode of Simply Bitcoin Live. 1456 01:20:06,640 --> 01:20:07,320 Peace out, everybody.