Welcome back everyone, we're simply Bitcoin.
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We've got Daniel from Cipher safe, Daniel.
Thank you very much for joining us.
I'm happy to be here. Cool.
All right. Look the the conversation.
Well, you know where we're going first.
We are diving into the numbers. Goes.
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of this recording, the block height is 743 1886, the Bitcoin
price 20,000, 415 chain rewrite days 834 total public, lightning
capacity, 4080 8.53, Moscow, time 48, 97 blocks to The
Happening, 96,000 114 and the samurai Whirlpool, unspent
capacity, Samurai Whirlpool is a coin or collaborative spend.
It is not a mixing. Service the unspent capacity for
that pool is 4810 dot 30 and just want to mention prices 2420
didn't say it initially. But I thought somebody would you
know, kind of chuckle before I chuckled but I guess I have to
mention it. What is the significance of 420
felt so significance? It's just a good number.
It was just a good number. It's just a good number and we
all have to appreciate it. I'm just a bit.
Anyways, I picked A very, very good topic that I know.
Daniel would appreciate I totally just brain for.
I remembered his dog's name. Faster than Daniels name, let's
good. Our marketing is working even
though I talked to Dan and all the time and Niko can't read
Nico, can't remember. Okay, anyways, I'm getting
sidetracked important. We covered many times on this
show, how the whole ESG stuff, the whole environmental stuff is
a scam and more importantly, the reason that we cover it on
simply Point is because it's a mechanism of which they attack
bitcoiners is one of the one attack Bitcoin mining to be
specific. It's an attack Vector.
Now, I just want to, I want to emphasize this because I know a
lot of people are going to take what I say out of context.
Does this mean that we are so cold climate change?
Deniers know? Does this mean that we don't
care about the environment? Absolutely not what we disagree
in is the mechanism the way in In which you deal with these
issues, we do not believe that making the bureaucracy bigger,
right? Is going to solve these
problems? We are in fact for the
free-market solving these problems because just look at
the track record. The free market has a much
better performance versus the bureaucracy.
And let me give you an example of how big this clown World?
Bureaucracy is getting. This is this is a joke.
This is a check out this Line by Reuters, EU Parliament backs,
labeling, gas and nuclear Investments as green.
Yeah, that's right. You read that, right?
I'm not kidding. This is a real article.
The European Parliament on Wednesday.
Back to EU rules, labeling investments in gas, and nuclear
power plants as climate-friendly.
Throwing out an attempt to block the law that has exposed deep
Rifts between countries over how to fight climate change, the new
rules will Gad gas and nuclear power.
Plants to the EU, taxonomy rule book from 2023.
Enabling investors to label and Market investments in them as
green. Remember this all part of the
ESG stuff, right? Why are they talking about
Investors? It's all part of the ESG stuff.
Remember the the if you if you're labeled as ESG friendly
you are more friendly company to invest in.
Right? So the whole thing is a scam and
guys look like we caught the other so-called ESG Proved fun.
Investing in oil, gas companies. Write this whole thing is a
scam. Natural gas is now green.
Nuclear energy is now green. Why are they doing this?
Why are they pivoting? All of a sudden?
Well, because Germany, shut down all their nuclear power plants
and then Russia invaded, Ukraine, right?
And for anybody that doesn't know.
Russia is a huge natural. Gas producer and Europe, still
relies. I think it's like 40% Sent on
Russian natural gas. So think about it right now,
these European countries that are hostile towards Russia
because of the invasion of Ukraine, all of a sudden they
need energy. So all of a sudden nuclear
nuclear energy and natural gas is green, this is this is why
I'm talking about this guy's, this is a joke, this is a clown
where you can't take these people seriously.
Listen, if they're really that principled, they would keep
Cheap natural gas and nuclear energy as non-green, but because
they need the energy now because reality is smacking them in the
face, all of a sudden, those things that are not so great in
the past have been labeled as green.
And therefore now they're good at ESG Investments.
This whole thing is just ridiculous.
So remember when these people inevitably attack Bitcoin mining
Remind them of this and also a little question for you.
Phil does this mean now the Bitcoin miners that are powered
by nuclear energy and natural gas?
Does that make them green now to just like I taught, ya know,
that's absolutely right Nico, that's what I was thinking.
As you were talking like, wait a second.
I'm like, dude did we just win in directly?
And they didn't want that to happen, because think about,
it's right. There's there's people, you
know, there's people companies like Upstream data.
You know that are you know essentially going and fitting
all of these you know all of these gas producers all of the
you know will say the the fire the fire run off, right?
The flaring and they're fitting them all with these conversion
units. So did all of a sudden did we
just did everybody just completely ignore the the
flaring and there you go. It's green.
The other point is I just want to.
I just want to bring up, this is all greenwashing right?
This has this has never had anything to do with the
environment. I think that this is what a lot
of people. Will misunderstand.
And I know that it's really empowering to get behind, you
know, some of these some of these movements, right?
Because it sounds great, it feels good, you know, it feels
like you're doing something right but you really gotta take
a look at where the money is coming from and what the
motivation really is and then it becomes very difficult and then
you start to realize, well, you know what?
They may have a really positive message but unfortunately the
end that they are driving. Is not the end that you as an
individual necessarily want to have because this ESG narrative
is not going to end with, you know, everybody.
Happy running through the fields and it's unicorns and rainbows,
okay? It's going to be every single
person in a tiny little pod with like, a really garbage VR
headset. Living a life like a slave for
real, you know, I know it sounds crazy, but we're driving towards
that and you know, let's face it.
There's a nice portion of us that don't want to see that.
So anyways, bye. I just painted a dark picture,
Dan, Daniel. I agree.
It's attempt to go back to a feudal system where he serves
depending on your feudal Lord because he's got the power and
the energy available to run things and that's what's one of
the major things that have grown Society is the abundance of
energy. And when you take that away, you
take away, take away socialisation.
Or severely reduce it. Absolutely.
You hit that, you hit the nail on the head, you control energy,
you control people, same with food, you control food, you
control people. I actually picked this topic
because I knew Daniel would like it and yet as in butter, and
then, as well. So yeah, it's total clown world.
Like this is just such an exposure, feel like, oh, it's
green when we need it. Well, that's it.
No, but that, that's Exactly it, right?
It's green one need when we need it, but the problem is at the
end of the day is that it never has anything.
As you've said to me, right? Like it's it never has anything
to do with providing any kind of actual change anywhere.
It's always just to fit the current narrative.
Like, I always feel like we're just, it's always kicking the
can down the road and we're always moving the goalposts.
And those of us who are actually calling this stuff out, we start
to sound insane. Yeah, 100%.
And this is just another Example of central planning meeting
reality. Okay?
They thought oh we're gonna you know just green all these in all
these energy producer, da. Look at.
Now, look at how much look how much more at Germany is paying
for power electricity. Do you think those citizens
signed up for that? Do you think they signed up?
Do you think they knew this was coming?
They would have never have agreed to this.
So it was marketed again, I'm not questioning the intentions
and I'm not Questioning the nobility of fighting climate
change. What I'm questioning is dude,
we've tried this. Look at the outcome.
The outcome is showing you to something totally different than
your intended. Your intended what you want?
What you were intending to do and look at the end of the day
just because you're not producing natural gas in your
country and your actually importing it from another
country. If you're still here, it's it's
what we're all sharing. Sharing the same atmosphere.
So I think it's just look, it highlights their hypocrisy and I
just think this is going to continue ESG must be called out.
Not only is an enemy of Bitcoin, it's an enemy of humanity, it's
anti-human but anyways, Phil it's time for the daily fail
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All right, I figured I figured at this point we have so many
gaslighting headlines that we could just probably pick
one-a-day. So I'm going to attempt to do
this. So this is our quick gaslighting
headline of the day, shoutout to icoc, not for tagging me in
this. Here we go.
Shout out the clown world of course, for posting this from
Bloomberg UK, the surge in gas prices isn't as painful as it
looks, that's right. Everything you're experiencing,
you're experiencing okay, they're just whatever it is.
You think that You're actually experiencing that's none of its
real. So, yeah, have fun.
Keep going on with your life. It's happening.
You didn't just say that we didn't just charge you that
everything's good anyways. It's insane.
Okay, okay. Here we go.
Of course, the Meltdown continues, the Meltdown
continues, and we have this great video.
This is a tweet from a Trier hottel.
So here we go. Question is Bitcoin maximalism
dead answer. This could be it.
I'm not going to be Presumptuous to think I've killed it.
But man, this is God, this is gotta effing hurt.
Whoa, killer blow. What is he talking about?
He's talking about a essentially, this was a podcast.
I'm just looked I don't know what podcast from should coin
her podcast, okay. And there's what's his name?
Ryan s atoms on the upper left-hand side, he shills eith
all day long. I don't know who this dude is
and this is, this is Nick Carter.
So let's just take a quick listen, 30 seconds and we're
just gonna I guess we're going to admire, we're going to admire
What's happening here? Okay, just take a second here
and Bow Down. I don't need these people for
anything, right? They're not coming to me for
investment. These are not the founders that
I'm busting. He's a certainly not the people
that invest in my fund tell you that getting through, when Max
was going to die though, is it going?
Is this Korea it. I'm not going to security.
I'm not gonna you know be like so presumptuous as to think that
I killed it but man this is got a fucking hurt.
You know, there's not that many defectors left, what?
Okay, anyways, so look obviously, obviously bitcoiners,
you know, Bitcoin has started answering back, but I think my
favorite response before we talk about this and we dive into the
the you know, the next part of the fail.
We got a response from fellow Bitcoin, ER and Bitcoin
maximalist John Carvalho Bitcoin error log on Twitter.
And this was great right here. He tweeted it.
Nick want to do an interview so we can take bets as to whether
you cry or rage quit by the end. But now that's a great reference
for those of us who saw the the interview from I believe it was
2018 or 2017 with with Roger ver.
Roger ver rage quit on the the stream and here was a response
from Alexander the hostler and yes John did say be cash one too
many times. And he made Roger quit.
So okay. I'm going to I'm going to move
this over to to Nico. I before it before I say
anything. What are your thoughts on what
is happening? I'm, I tweeted this today so I'm
gonna do it because its original thought and I'll pop it up for
you guys on screen and it's all capitalized.
So I have to scream it or if Bitcoin needed.
Any one person, it would defeat the purpose of Bitcoin.
Perfect. So yeah like he's talking as if
like he's all this all-important God and I only invest in
Founders and Bitcoin maximalist need me it would defeat the
entire person purpose if Bitcoin needed anyone.
So Bitcoin maximalist don't need you.
They don't need anybody that's the whole purpose of Bitcoin.
Right? And I think that what's gets
below a lot of these peoples like fingernails, like what
really? Drives them crazy is the fact
that Bitcoin levels the playing field.
So if you have point zero, zero one Bitcoin.
And if you have 10 Bitcoin, the Bitcoin Network, sees you the
same, right? And then that also applies to
people's mindsets, right? And also applies to the internet
any pleb, right? Could just go and call him out
on his bullshit and he had can make them go away, right?
So it's funny because I like Bitcoin but as soon as blog five
went to shit and that's a company that Nick Carter
invested in. Fuck these plebs when
everything's going good during the bull which is why we bring
this up. So so often on the show yeah
we're all friends Kumbaya but when the bear Market hits the
reality is situation hits the reality that you invested in
shit coin companies and what you're doing is You're excusing
yourself and when you invest in shit, coin companies, you're in
directly attacking Bitcoin, your incentives are not aligned with
Bitcoin. Your incentives are aligned with
shit coins, shit, coins, need to function, any to work.
They need to become successful in order for the shit coin
companies, you invested in to become successful also and this
whole thing where oh we I own. There's not enough Bitcoin
companies to invest Vest in, that's bullshit.
I know Matt and Marty have a fund Phil and I have invested in
a couple Bitcoin companies as well.
So this whole concept that, oh yeah, you need a like there's
no, there's not enough Bitcoin could that that's bullshit.
That's an excuse. You're, you're trying to chase
the short-term deal, the short-term profits.
You're not thinking long-term so shame on Nick Carter.
Shame on his fucking elitism. Thank God for Bitcoin because It
doesn't fly here and it's driving him.
Absolutely crazy. Max Keiser said, something
really smart when he came on the show about a year ago, he said
that Bitcoin exposes the egomaniacs and this is exactly
what Bitcoin is doing here. He really thinks his special no
one is special in Bitcoin. We're all the same, we're all
plebs. You either join the movement or
you don't it's really that simple.
And Nick Carter we appreciate what you've contributed.
Today, especially in fighting the Bitcoin climate flood.
But dude, that does not give you a pass here and your reaction
towards people calling you out. Really shows your true
character. Anyways, Daniel, what are your
thoughts brother? Exactly what I tweeted earlier
today it's either die. The hero or you live long enough
to see yourself become the villain and we've seen that in
Bitcoin over and over and over. And it's sad to watch very well
said and unfortunately it is true.
You know that that does the you know that that doesn't not
happening to a lot of people because eventually you get to a
tilt you know with power with maybe you get in a murdered with
your own success you know whatever it is and you know all
of a sudden you know when you go unchecked unfortunately usually
devolves into a form of megalomania which is you know
it's all about you and And unfortunately, like that's you
know, that that's what you can see here.
I mean, don't get me wrong, you know, I feel that, you know, he
could have just simply handled this gracefully.
I don't know, I don't know why, you know, he chose the route
that he chose I mean, obviously, you're muted.
It's obvious. Phil, it's obvious.
Why he chose it, dude? He he was riding High.
Okay. Then his investment started to
blow up his vestments, start to blow up, it makes his VC font
look very bad. It makes him look bad.
And the, and the bitcoiners were the first to call him out on
that shit. And he fucking snapped, that's
what happened, he snapped. And and then you said it, you
see it in the rhetoric that he was talking.
Oh, you guys don't get into. Private Equity, right?
So it's like a defense mechanism.
It's like he's he soothing himself right.
He's trying to make himself feel better because of the decisions
that he took with VC. Now, here's the thing, dude, an
investment is never 100% unless it's Bitcoin, of course.
So like if you're investing into a company that's there's no
guarantee that it's going to work out, right?
So I'm not criticizing that, okay?
But what I am criticizing though, is his reaction.
And the elitism. And of course, the do the
attacking Bitcoin maximalism Bitcoin maximalism and the
so-called toxicity that everyone criticizes the reality of the
reality of the situation. Is that, that is a necessary in
my, in my opinion, that is a necessary feature, right?
Because that right, this decentralized, immune system,
that is Bitcoin Twitter. It always catches the scammers,
always and the people that hate it.
The most are the Murmurs right. But it's never mentioned how
many people that saved right look how much he Cory's getting
recently for calling out scammers.
Right? So anyways, Phil, yeah, no II.
You know, I what I was going to say was was that this just made
him look alike, you know a lot worse and perception is reality.
So essentially all you know, like it's like, you know, he
made these comments about, you know, none of these people are
investing in my VCS. I don't, I don't think, you
know, you shouldn't just assume Zoom right?
You shouldn't just assume that because somebody is a troll on
Twitter. Like why would you make the
Assumption? As to what wealth they have?
I've known plenty of people in my life who don't look like they
have two pennies to rub together, okay?
And they probably have more wealth than the majority of
people. So this is this is complete
nonsense and it's exactly what you said it is total elitism and
it's really cringe to watch and that video.
I mean, look, you know, you're going to get support from like
Biggest scammers right now on the face of the earth, I mean,
literally etherium is the biggest Affinity scam Niko, was
it was, it's a 15 that that called it.
The the asshole from which all the shit coins come from
something like that. I don't know if it was him, I
could be misquoting. But somebody said that, you
know, and that was and I think it was him and it was absolutely
correct. Well you know what?
And it's definitely a great quote.
So yeah. Okay so that it is that's that's
an amazing quote. Anyways Phil what is it?
I was gonna say, do we have time for the next fail?
Absolutely. Okay, excellent got like 10
minutes. Ah, excellent excellent.
Okay, good good. Here we go.
Let's dive into this. This is going to be confusing
AF. Here we go.
Alright, moving on to some weirdness but not really
weirdness. I guess it's nothing's
unexpected anymore in Bitcoin right.
Everything just kind of mutates and shifts and apparently it
looks like it looks like KY caml.
It's getting a bit of a facelift or has gotten a bit of Facelift
Nico, you might appreciate this maybe dr.
Ron Paul. We might have to get him back on
to talk about this at some point.
Here we go, guys regulatory scrutiny.
Increasing as crypto becomes Financial stability risks all my
gosh. Nico who could have ever for
seen this coming, right? Let's be honest about talking
about talking about shit coins, right?
It's really Bitcoin and shit coins, okay?
And that's right, Financial stability, risks.
We knew that this was coming because you can't just keep
printing money Into Thin Air and everybody losing faith on.
On their money. You can't just keep doing that
without finding a scapegoat. So here we go.
It's been a sharp increase in regulations targeting the
Bitcoin and shit coin space with regulatory bodies mainly in
North America and Europe. Here we go.
Found a global reg, reg Tech regulatory technology firm Cube.
I've never heard of cube before. Hmm, interesting, let's just
take a pause. Over here.
What is regulatory technology or reg Tech typically regulatory
technology or reg tech provides the tools needed to facilitate
governance? Mitigate risk, ensure compliance
and deliver regulatory reporting while Financial Services firms
have leverage technology for regulatory purposes for some
time. Reg Tech terminology first
emerge at the end of 2016. Sounds like some made-up
bullshit. For some software, you're going
to sell Anyways, Moving On, Moving, On, Here We Go.
Cube said that there has been a 7436 percent, increase in
Bitcoin and shit, coin, related regulatory messaging in the
past. Four years, that's pretty spicy
compared to pre 2018, We've got to do something about this Nico.
The government said more words about regulation.
That's Daniel, we need to fix this.
There needs to be software that fixes this and we need to make
sure that we ensure compliance. Here we go, don't worry, these
guys are going to help the report acknowledged that the
Bitcoin should coin Market has already grown to become a
critical piece of the Global Financial system and that risks
from Bitcoin and shit coins, could spill over into the
traditional markets, very risque as the participation of
Investors increases for Bitcoin and shit coins.
Sore. So, to do the risks that market
volatility for Bitcoin and should coins, could have a
knock-on effect for the global economy, it is fast becoming a
financial stability risk. Okay.
Alright, so here we go. We're knocking on that door now.
Here we go. Bitcoins going to cause the end
of money. Among the issues that Cube finds
Regulators have missed, is the here we go.
Let's throw in some ESG sustainability aspect, the
Bitcoin is Jim quick. Okay.
So it's not just the financial instability.
Now we're going to sprinkle in some ESG into this.
Here we go. So, the argued that the failure
to address the environmental impact of Bitcoin should coins
will lead to an inevitable Clash of two Titans That Could set the
trajectory of the modern Financial world back
significantly. Guys, these are terrible things.
The world is coming to an end unless we give this company,
absolute power and let their software fix everything time is
running out before the volatility of Bitcoin and should
coin bleeds into the Global Financial stability.
Already. They may use stable coins as a
blueprint for new regulation to come undoubtedly International
bodies will work tirelessly to tie centralized regulation
together with a decentralized currency.
That might makes no sense that because last part makes
absolutely no sense whatsoever. None, none.
Okay, these literally, I just I read you an ad for a company
that is going to save. Save the world, save the world.
With ESG, and they're going to stop the Global Financial
stability by putting together. These reports that there's been
seven thousand percent increase about the words.
I I don't understand anything that these guys are doing, okay?
I don't understand anything. I don't understand how they fix
Financial stability, I don't understand how anybody is even
bringing these people in to listen to them just in white
paper. It sounds like one I check their
website, there's no shit going yet.
Yeah, that's the key word, right?
Regulatory token, Christine lagarde's all about that.
She's a, she's an advisor. Yeah, go ahead.
I just wanted to say so there's three things right?
They're bringing in financial regulation.
Okay. They also they are also making
sure that they're fixing ESG. Okay.
And they're also making sure that they're stopping.
I don't understand that they're making sure that the messages
are in check for financials, I don't get it.
I'm sorry dude, I went through it multiple times.
I couldn't figure out what they do, I just know that they're
helping the crypto World somehow II noticed.
They use that word you know, Financial stability.
That's a great. That's a buzz word that you
know, all these Central Bankers are using to.
But what Really mean, by Financial stability is financial
stability for their jobs. That's what they mean that
they're not really talking about the world, they're talking about
themselves and it's all projection, man, I would even
make the argument that, because the, the feds original stated
goal, was to calm down the volatility, right to control,
inflation to control unemployment, right?
I would make the argument At that, if the FED didn't exist,
the free market would have done a whole lot better than the fat.
Keep in mind guys that the Great Depression, the recession of
2008 and all the other ones, right?
But those are the ones that I'm most familiar with that all
happened under the fat, all of it, all of it.
The Fed was found in 1913 the Great Depression, right?
The the whole black Fred. The whole thinks what happened
like 1929, right? 2008.
What about that? What about this?
Lunacy that has just happened. Just now we're like the
beginning of it. I think will be, I think will
officially be in a recession. Not too long from now, right?
But we know that we've already been in one.
So what is they failed in their original mandate?
I would go, I would say that it's Central Banking that is a
danger to financial stability, Bitcoin is the cure.
So it goes to what I've always been saying when the central
banks Accused Bitcoin of something.
They're projecting what it is. They do themselves.
Anyways. Daniel, what are your thoughts
brother? Well, they're the government.
So if they have a failure they got to do it bigger and harder.
Yep. It's really the strangest thing
II, my as I dove into this, this regulatory Tech, okay.
Essentially what they're doing is, is that they're, they're
adding another layer on top of kyc Am L.
And for some reason, this company is being given some type
of a green light by the authorities to provide this
ridiculous nonsense service, which is already being provided
and failing to nicko's point. The glass-steagall ACT, which I
know some people are going to argue but the glass-steagall Act
was removed and the mortgage crisis in sued.
So whether or not it was the cause I'm not saying it was the
cause, but it was definitely like a game of Jenga.
You know, they took away a piece and everything could topple just
say it just saying, just saying it's true, the go-ahead.
Daniel was gonna say a feel like since we've gotten into this
fourth, turning type of world, we're living in now the Griff
that just Griff's, get bigger and broader it about everything.
Yep. There.
It's like they're trying to get their last piece of stuff before
it all falls apart. It's so obvious, do it.
And with the headline that you covered in the beginning, feel
like the gas, why? It's not that bad.
Remember that sweet from the House the infamous one year,
saving 16 cents on your barbecue, this year.
Why don't you guys tweet that again with the updated numbers
like? Yeah, it is.
It is total. Total clown world.
Where was this year's? Tweet Nico?
Oh, that's not gonna have it. So total clown world's opt out
by yourself some Bitcoin opt out of the clown world's?
Yeah. Anyways Phil it's time for the
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get 5% off crypto, cloaks.com. Alright guys, so I've been
telling you guys, I've been making the argument that we Are
entering the then they fight you stage right?
In fact, Phil and I have been making that argument for a
while. Now for about the last year,
Bitcoin has reached a size that it it no longer flies under the
radar, right? It's captured the attention of
these giant bureaucracies that you know.
I think they're I think they'll finally be revealed for what
they are. I think that governments that
are supposedly For the People by the people, I think Bitcoin
exposes all incentives and I think it's going to expose that
really a lot of these governments instead of being by
the people for the people there by the government for the
government, but you still need to fight.
And this is part of the fight, our friend David Zale, he's been
on the show part of the Bitcoin policy Institute.
We've been on top of this, a Bitcoin policy Institute is the
lobbying arm of the Bitcoin industry.
It's had major backers. And this is different than coin
Center even though I love Jerry Brito, I love his work.
Unfortunately, all incentives are not aligned because coin
Center represents the Bitcoin and should coin industry versus
the Bitcoin policy Institute that just represents the Bitcoin
industry. So this is a letter that came
out today or maybe it was yesterday a couple days ago.
Many ways the letter is as part as part of the president's
executive order that International A ministration
requested comments from the public on digital assets and
u.s. competitiveness. We were pleased to submit this
report. I'm not going to read you all of
it because it's very long, but I'm going to read you.
The part that I think matters and then we'll have a discussion
on it. So this part of the thing is
called policy. Considerations right throughout
its history. The United States has proven its
ability to adapt and rise. Rise to meet new challenges on
the world stage, Guided, by our constitutional principles of Of
individual, liberty, and justice, and buoyed, by our
strong economy, and the natural resources and human capital, at
our disposable, our disposal. As a result in times of
technical technological, change other nations around the world.
Look to the US for leadership and guidance on how to navigate
the novel and complex Global issues that inevitably arise as
a result of the proliferation of new technologies, Bitcoin and
the rise of borderless digital This is merely the latest
technological paradigm shift and Oculus to the widespread.
Adoption of the internet that possesses important policy
questions that will need to be answered by every state on the
planet. It is therefore imperative that
the United States approach. Any policy framework for Bitcoin
and digital assets with care and with an eye towards fostering,
the principles of freedom. And self-determination that we
seek to uphold. I think the last part is really
important. Fostering the principles of
freedom and self-determination that we seek to a pole.
Now here's the thing guys, here's the reality, right?
Bitcoin is a threat to the administrative States.
The the administrative State Bitcoin is a threat to the
bureaucracy, like, like Phil always points out Bitcoin
forces, governments to instead of extracting wealth, right?
At the point of a gun, what we believe and we talked a lot
about this on yesterday's episode with Mark moss and svet
ski is he's going to force governments to provide value.
Why do I say that? Because Bitcoin gives the power
to the individual. Not only to vote with their
wallet, but also their feet is very easy to take your wealth
with you when it comes to bitcoin, right?
So I'll of The attempt right by the Bitcoin policy Institute,
but what I believe. And perhaps this is a little
paranoid, but I think all bitcoiners are slightly
paranoid. I believe that this is really
going to expose a lot of people in the federal government, In
their belief, in what should the role of government be in an
individual's life? I don't think they're going to
give over the power of controlling people through the
issuance of money and monetary policy lightly.
So I admire this type of letter but I'm also and I think it
serves the purpose of at least presenting our case.
But I am skeptical of what the actual result.
What the, what the benefits are, what the results of I think it's
necessary, but I also think that you're telling this to deaf
ears, you're telling it to people that are not incentivised
to Believe this letter to give up that power.
So to speak. We play.
We There is a, there's an image we showed you yesterday about
how the modern capitalist existen works.
It's really not a capitalist system, it's really crony
capitalism where the people at the top of the heart hierarchy,
and it doesn't move our politicians and bankers, right?
Politicians and bankers are threatened under bit.
Look at how they've reacted look at how the IMF has reacted.
Look at how all the Show Bankers around the world have reacted to
bitcoin. Look at how some politicians
have reacted to bitcoin. Like and this letter is directed
to him to them. They're not really incentivized
to understand it, so I guess it's useful in the sense that at
least we're putting it on the record.
We're at least attempting to start a dialogue.
But dude, Phil perhaps, I'm crazy.
Perhaps I'm a little paranoid, but I just don't believe these
people are willing to give up our man.
I just do not believe it. And at what I've after what I've
seen the last year, I'm more confident in that belief more
than ever, right? So yeah, Phil what are your
thought? First of all, though, that mean,
first of all, shout out to David's L, Bitcoin policy
Institute, you guys are freaking killing it.
Donate to them. Help us in the swamp of
Washington, d.c. David has a hell of a job in
front of him, but dude. I just, I do not believe these.
People are just willing to have dialogue in the first place.
That's my thoughts. Now beautiful.
You know what beautifully said and the the reality is, is that
their money printer hasn't broken like they like, why would
they, you know what I mean, why would they give this up?
What is the incentive? They they just continue to print
and people still value the money, right?
Like, you have a whole bunch of, like, you have a whole bunch of
people, right? That create all types of
material that glorify, and that Essentially create this
mysterious Allure about having as much of it as you can, even
if it's absolute garbage, and it's actually robbing us of our
wealth. So, while robbing us of our
time, which really is our wealth.
But anyways, going back to this whole thing.
Look, the government, they can't confiscate Bitcoin as we know,
they can't print it. So the only way to take it from
us is, is that through, you know, five dollar wrench attack
Some type of violence or which the government is not gonna be
able to do on an individual basis.
The other way is what, like we said, they have to provide some
type of value. The only way that we're willing
to separate ourselves from our Bitcoin is, if we believe that
we are getting value in that trade.
So if we don't get that, then we don't separate ourselves from
our Bitcoin. And and somebody may also argue
and say well you know we could get scammed right?
We could end up giving our Bitcoin for a service or A duct
from an entity that is acting as a government and and we may get
fooled. Certainly but guess what?
Unlike the money printer, where they can just continue to print
wealth, they would only have that happen once and then
they're not going to be able to do it again.
Not so I think that look the key to bitcoin is that it minimizes
this Behavior. I think that the more people I
think that this way of thinking, with the money printer is very,
it's old and I I think that what's going to happen is that
the more people grow up and realize the virtue of Bitcoin?
I think that, you know what, David's L right now has a, you
know, a big task ahead of him. But I think that over time it
gets easier, right? It's their Ice Cube that's
melting not ours. Absolutely.
I think Spence key has an amazing line, right?
Which is time is on our side? Yes.
Not on. There's Daniel.
What are your thoughts on? This is a surprise.
You. No don't, but I will say, I
think, overall, you're right. It, it will change any mind
change, the majority their minds, but it does plant a
little seed. So that maybe there's one or two
individuals in that position that at least gets them thinking
and maybe nothing Dramatical happened for a long time, but
it's might be the beginning of the process.
It's just just like everything that bitcoiners believe in being
10 years ago. There was a much smaller group
of people that believe those types of thoughts.
And it's grown a lot just in the last 10 years.
So it's a slow process. It just like you said, time is
on our side. Absolutely.
I agree with that. That's a really good point.
Yeah, it's a slow crawl. I think it's because we get
caught up because we covered every day, right?
You, you kind of, you know, you kind of lose sense of that.
But anyways, real quick, another piece of news.
It's signal guys, it's really not noise.
Usually I don't cover this type of stuff, but I started
connecting the dots because right now is one of the biggest
greatest opportunities to start mining Bitcoin based on what I
experienced in 2018. So I started making calls.
I stopped, I talked to the awesome Folks at Luxor pool.
Cool. We had you know we've had a
couple of them on the show Ethan and Gooseman and let's talk
about what the current state of Bitcoin mining is based on a
little bit of my research and based on, you know, a little bit
of the press releases as well. So this is a press release bike
or scientific or scientific. Is this huge data center Mining
Company? Absolutely massive.
Check out how many data centers, they own data, centers, owned
and operated, by the company. In Georgia, Kentucky, North
Carolina and North Dakota, and North Dakota.
The company. Now has multiple facilities
operating in Texas. Significant future development
is planned for Texas and Oklahoma, that's a lot and
Bitcoin mining is very expensive, especially when you
start doing it on a large scale, but here's the signal, guys,
this is the part. I want to pay attention to, I'm
going to connect this with my own research as well during the
month of June. The company, sold, 7,000, 202
Bitcoins, an average price of twenty, three thousand per
Bitcoin. The total proceeds are
approximately 167 million dollars as of June 30th 2022.
The company held 1959 Bitcoins and approximately 132 million in
cash on its balance sheet. Proceeds from Bitcoin sales and
June were primarily Use for payments for Asic servers
Capital investments in additional Center capacity and
here. Check this out guys this is the
signal scheduled repayment of debt.
The company will continue to sell self mined Bitcoins to Pate
operating expenses. Fund growth retired debt and
maintain liquidity. Now, I know what a lot of you
guys are thinking, is it normal for them to sell all that
Bitcoin? No, it is.
Absolutely. This is, this came kind of a
little bit of As a shock now they're still.
Okay, they're still in the green, the the the latest gen
Bitcoin miners. Let me pull it up so you guys
could have a visualization. Is that s19?
Well it means the XP but whatever works for this it's
still if you're getting a competitive electricity cost I
put here, just for example, steak five cents per kilowatt
hour. It's still making about nine
bucks a day, but it's not and I think this is a really good
chart. It's not as profitable as an
April. Where's making twenty six
dollars a day so they're still in the green these companies.
However, right. They're still operating with a
thirty to forty percent margin. However, they've seen what we've
noticed right? Is that a lot of these
companies? A lot of these big mining
operations have started to sell a six in mass to to beef up
their balance is so to speak. So it's not a problem right now
but Example, if the macro environment gets worse which I
suspect there's a big possibility of that.
I think a lot of these companies might be in problems so not only
do I think that right now we're currently witnessing is a fire
sale of a 6 there. 70% off, from all-time Highs.
But what I suspect we might see right in the next six months.
Specifically, If the Fed remains hawkish Is that not only are we
going to see a fire sale in a six?
But we might see a fire cell and distressed mining operations as
well as remember a lot of these operations they took on debt to
fund themselves, right? So not only do they have to pay
for the operating cost right? Like electricity expenses
maintenance, all that good stuff but also they have to pay
interest on their debts as well, right?
So very interesting. Feel very interesting, but to be
to be frank though. I thought it was a lot worse
than I originally imagined, and then I talked to the awesome
people at luxure and they told me it was a different situation,
it wasn't there, so profitable, a lot of these operations,
right? And then I connected the dots
with, you know, the the, you know, the mining.
The mining data based on that website, and then you started to
see the picture yourself, but yeah.
And that has a lot of Bitcoin that they had to sell my brother
as a lot of Bitcoin. You know question, oh yeah, go
ahead. We know the Bitcoin reward is on
a four-year cycle. And you know that price crashes
about two years in after the previous having, I would think
that be part of their business model and planning.
So it's funny. You say that because so I
actually prepared this time and I was actually telling Phil back
in November and December, you guys can go back to those
episodes and say, hey man, this insanity is a reminding me a
whole lot of 2018. Why do I say that?
Because you had all these pictures On Twitter of these
people, home by any, right? This is exactly what have people
forget this exactly what happened in 2018.
So I think I told you feels like Phil.
There's gonna be a crash. I didn't know it was about the
price though, unfortunately, but I had a suspicion time, an idiot
right? I had a suspicion that a lot of
these, a six in the prices that they were going for, we're
completely overvalued. We had a six selling for the s19
was selling for like a eleven thousand dollars.
There is absolutely no doubt right now, it's worth 3,500 at
3900, right? So dude, that's like a 60%
haircut, right? Still sounds expensive.
But yeah, 67% haircut. So yeah, but it's I don't know
why they didn't notice but I could have Daniel, you know,
what why did it to Celsius, guys?
Noticed, why didn't block by notice, right?
And those company, he had pump showing off saying block phi's
making $50 50 million dollars a month.
Just got acquired right? Like for significantly less
their valuation got cut in half, right?
I think only a 5 billion valuation.
Went down to 250 million. There was a rumor that it was
for 25 million at what point. Like dude, I think that it
caught a lot of people by surprise like it always does
which is surprising, which is really surprising Phil.
Yeah, no. It's really, I mean, look, it's
too bad. It definitely is.
But at the same time, these types of situations, Ian's
create opportunities. Look at the end of the day when
it comes to when it comes to the mining.
I really, I really don't know that much.
So this is actually the first cycle I've gone through having
much more knowledge about mining thanks to you Niko.
So I didn't, I never even really thought of this aspect and to
see that, you know, to see that that much Bitcoin was sold at
23k. I know that, I know that the
people that you spoke with may have said, like yeah, you know,
these operations. Still profitable.
But the thing is this, right? The macro picture and this is
you know we call them Black Swan events and stuff like that to be
yes the mice, the machines are still profitable so what their
remaining, they're still very profit.
Oh okay, okay, so I'll check the operation right and then the
debtor the the creditors or whatever the people that they
owe the debt to they're looking all those miners are still
profitable, right? Which means that you could still
pay me, right? So that's what I'm gonna gotcha,
right? Okay, gotcha.
And then again like I didn't just get the single data point
from the Luxor, guys. I also kind of connected the
dots based on my own research and it, it was basically telling
me the same message as well. Okay.
So anyways, that's a whole lot of Bitcoin.
Like you said, crap, David's L just message me.
I asked him what his thoughts were on the, on the previous
thing and here's his quote. Shout out David, he says the US
government needs to And that, while the majority of cryptos
are pump-and-dump, ponzi's and pipe dreams.
Profound Innovation, is taking place namely with Bitcoin and
it's lightning Network. And this relates to the first
piece of news. Thank you.
David for getting back to me, that's his quote.
But, anyways, Phil, it's time for the daily meme review
brought to you, by Citadel 21. It's the best Bitcoin cultural
Xena stories articles Comics by actual bitcoiners.
Every volume has different artwork.
Does the artwork for volume tennis the one that show up
first because his Lincoln is gorgeous.
This is artwork for volume. 11 volumes.
Sweat of just dropped is being shipped to my house will be able
to show that off and then start work for volume 2.
Volume 2 is almost sold out. Why is it almost sold out
because there's only a thousand physical copies made per volume.
So get your prints of sedale 21 today before they run out.
All right, everybody, Welcome to the Daily Bitcoin meme review.
We're review Bitcoin, memes, memes, play an essential role.
Not only in Bitcoin culture, but in this narrative trench warfare
that were fighting every day. A hand two hands on the
Battlegrounds of the internet against governments and central
banks. Anyways, first meme by j4 y 3
held. The government will defeat
bitcoiners fill this makes absolutely no sense.
What is what is that mean? Free sense.
I don't understand. So if you hop in the van, right,
they kidnap you. Yeah, that's how they get you
with three sad. I get it.
All right, next one.
Bye Ross. Mus at this is like a quote.
Oh this is quoting someone, I guess someone important he's
wearing like the old, you know back in the day clothing.
So anyone wants to live at the expense of the state.
They forget know everyone wants to live at the expense of the
state. They forget that the state lives
at the expense of everyone else. Federic bastia!
Oh that's what you were referring to referencing.
Yes, yes! There you go.
Okay, bastia, okay, I need a I need a read some of the stuff.
Anyways, next one, bye. Greg zag.
This is his secondary account. He wanted to know, let everyone
know Dan. These morons might actually have
a point. Hey John, why do we pay taxes if
they can't? If it could just print as much
money as they want? Anyway, and it's an FBI agent,
an FBI agent. Would absolutely not think that
whatsoever. They've bought into that.
They drinking that Kool-Aid so hard.
Anyways moving on to the real sha-256 Bitcoin tweets or meme
who did this, and it's feeder shift as A dinosaur, to be
honest, the latest news about Peter shift and his bank, in
Puerto Rico, man. I feel bad for the guy.
I hope he has a happy ending there when the government is
going after anybody. It's I'm just not a fan of that,
right? Anyways, next one by Rasmus, 125
years ago, you didn't have to ask permission from side note,
Dude, if that is not a good advertisement for Bitcoin, Peter
Schiff, I don't know what to tell you, but I do hope things
work out for you with your legacy system.
Fiat thing, okay, it's in Bitcoin.
That can't happen just saying, all right, moving on, 125 years
ago, you didn't have to ask permission from the government.
Collect rainwater, go fishing, own property.
Start a business, renovate. Your home.
Build a home. Use the transportation vehicle.
Get married hunt own a weapon. Here, sell a product, protests
grow food on your property, set up a lemonade stand, sell food.
You can do virtually nothing without being extorted by the
government. Obtaining their permission
first. If you still think you're free,
you're deluding yourself. You live in a tax form as free
range humans, okay, we've been talking a lot about tax stuff.
Alright, pay your taxes everybody.
Okay, color within the lines. So but yeah, look, let's
actually have a discussion about all these things though.
It's absolutely true. And the you're right and it's of
self-fulfilling bureaucracy. It's not like the government
actually cares about licensing, all these things, right?
Maybe you can make the argument that, you know, using a car with
a good idea, license, right? But collecting rainwater, like
they license that they regulate that because regulation creates
more bureaucratic jobs, right? So it kind of becomes a
self-fulfilling prophecy. Now, there's this other aspect
where if they license These things that's an Outsourcing of
responsibility to the bureaucracy.
Once you Outsource responsibility, become weaker as
a human being, right? So it begs the question, right?
If the government gets bigger, and bigger, wouldn't that create
weaker human beings? Because they don't even have to
think for themselves. They just really just rely on
the bureaucracy to take care of all their problems, right?
So it's twofold. Right.
Should be really allow a country a government to regulate
collecting Rainwater. And the other aspect of it is,
if there's just this giant bureaucracy, controlling
everything you do, you don't really have to think you just
become a cog in a wheel. Anyways, just some thoughts but
color within the lines guys. All right.
Next one by she Ona, it's a criminal and he's pointing
someone at gunpoint. Give me your cash.
I just reported you using my new Solana mobile phone, but and
then the criminal feels that he said he had some big boys.
You need this more than me, hahaha.
Oh man, awesome, awesome, awesome scores.
And for that, I'm going to give it the new cold card and K4.
It's pretty. And it feels for it feels as
pretty as it looks. All right.
It feels as pretty as it looks. And of course, I score my seed
and metal on a Cipher wheel. Anyways, Phil course, very nice,
very nice. Nice.
Okay. I am giving those awesome memes
this. Awesome 1.21 gigawatts.
It's a velcro patch. It Sadako brush very nice.
Right? That's very nice.
But it's in mint and you'll never use it.
No, no, it's in the, I use this one that's not meant.
Oh, it's not, yeah, this is what I've used.
Yeah, had it for 20 years, though.
Interesting, okay. Daniel, what will you do?
I give it a metal train pencil sharp.
Wow. Nice.
Wow, that's very, very deep into the train.
Car stores, the shavings. That's right.
That is we just we just aged ourselves, Right?
Alright guys, we want to know if you agree or disagree.
Let us know down in the comment section.
Make sure to subscribe to us on alternative video platforms,
like Rumble.com. Personal favorite Bitcoin
tv.com. Join our telegram group.
It's a party, and they're joined right now, or telegram group.
The link is down below. You could link us some memes and
we could review them on the mean review.
There's a lot of plebs in there talking crap.
It's a good time. Join our telegram group and Of
course if you're listening to the Twitter spaces audio version
of this episode, make sure to stay until after the show.
So because we're going to do a live hangout.
Q&A is fatzke Mark Moss? Came to the one today it was it
was really cool but anyways pill it's time for it.
No it's not time for anything. There was an open source
software released today wanting to everybody about it software
releases, brought to you by Cipher safe.
Check them out. Cipher safe dot IO, I can
confidently. Say nobody Storing their seed
here in paper, everybody is storing their seed in steel,
using the Cipher wheel, or the all new Cipher grid, they both
come with a tamper-resistant wire.
Oh and the grid comes with a punch tool.
And you know what actually Daniel since we have Daniel here
Daniel here there's some new stuff coming out from Cipher
safe. What do you got for us?
Yeah, we're moving into physical Bitcoin art specifically metal
and working on our first product right now.
It's I'm going to be a reuleaux triangle with a Bitcoin logo and
other artwork attached to it, so we're pretty excited about it.
All very exciting exciting to see this out.
Okay. Very cool.
All right, we've got Samurai wallet version, 0.99, dot 980.
That was released its Down Below in the show notes, guys, don't
forget to check us out on our Audio Only platforms.
We are on Apple, podcasts, Spotify and anchor.
Don't forget to check us out on Fountain dot f m--.
You could stream assets through Breeze.
Awesome. Thank you Phil.
All right guys, that was our show before we go.
I want to give a very special shout-out to the Legendary
Pirate. Beach Bum.
Check out Simply Bitcoin, unfiltered
www.simpleandsensational.com cure pleb signal.
If it's your first time in a bear Market, definitely want to
check it out. Simply Bitcoin will help you
through the process. Also want to give a very special
shout-out to our clothing. And sponsor represent LTD.com
Phil and I wear the hoodies every single day.
Not only are they stylish? They're also very comfortable.
He's coming out with more Bitcoin merge and simply Bitcoin
merch dropping soon. Definitely not going to want to
miss it. Also want to give a very special
shout out to a friend of the show and Legend you can go get
my follow at Cipher safe shoutout to Daniel.
Shout out to make Archie who is the genius behind the Cipher
wheel? Definitely want to check.
Out Cipher safe dot IO, guys. That was our show.
You enjoyed the show you what's this man?
First, you want to continue here in the Bitcoin.
Use from the Polly Platt perspective in the catastrophic
fails and the memes. Definitely