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Welcome back everyone, we're 
simply Bitcoin. 

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We break down the news. 
The daily fail meme review, 

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software releases, Hardware 
releases, and the plebiscites 

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joining us today sponsor of the 
show. 

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We've got Daniel from Cipher 
safe, Daniel. 

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Thank you very much for joining 
us. 

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I'm happy to be here. 
Cool. 

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All right. 
Look the the conversation. 

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Well, you know where we're going
first. 

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We are diving into the numbers. 
Goes. 

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Let's do it. 
Brought to you, by Donald any, 

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some of the best Bitcoin oats, 
like the not a one, the one I'm 

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holding in my hand, run your own
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The lightning Network, whirlpool
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And there's no excuse now, 

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So, if you're a digital Nomad a 
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It's really cool. 

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Check All this stuff out at 
noddle, Dottie you at the time 

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of this recording, the block 
height is 743 1886, the Bitcoin 

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price 20,000, 415 chain rewrite 
days 834 total public, lightning

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capacity, 4080 8.53, Moscow, 
time 48, 97 blocks to The 

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Happening, 96,000 114 and the 
samurai Whirlpool, unspent 

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capacity, Samurai Whirlpool is a
coin or collaborative spend. 

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It is not a mixing. 
Service the unspent capacity for

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that pool is 4810 dot 30 and 
just want to mention prices 2420

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didn't say it initially. 
But I thought somebody would you

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know, kind of chuckle before I 
chuckled but I guess I have to 

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mention it. 
What is the significance of 420 

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felt so significance? 
It's just a good number. 

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It was just a good number. 
It's just a good number and we 

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all have to appreciate it. 
I'm just a bit. 

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Anyways, I picked A very, very 
good topic that I know. 

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Daniel would appreciate I 
totally just brain for. 

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I remembered his dog's name. 
Faster than Daniels name, let's 

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good. 
Our marketing is working even 

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though I talked to Dan and all 
the time and Niko can't read 

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Nico, can't remember. 
Okay, anyways, I'm getting 

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sidetracked important. 
We covered many times on this 

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show, how the whole ESG stuff, 
the whole environmental stuff is

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a scam and more importantly, the
reason that we cover it on 

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simply Point is because it's a 
mechanism of which they attack 

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bitcoiners is one of the one 
attack Bitcoin mining to be 

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specific. 
It's an attack Vector. 

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Now, I just want to, I want to 
emphasize this because I know a 

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lot of people are going to take 
what I say out of context. 

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Does this mean that we are so 
cold climate change? 

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Deniers know? 
Does this mean that we don't 

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care about the environment? 
Absolutely not what we disagree 

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in is the mechanism the way in 
In which you deal with these 

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issues, we do not believe that 
making the bureaucracy bigger, 

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right? 
Is going to solve these 

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problems? 
We are in fact for the 

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free-market solving these 
problems because just look at 

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the track record. 
The free market has a much 

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better performance versus the 
bureaucracy. 

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And let me give you an example 
of how big this clown World? 

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Bureaucracy is getting. 
This is this is a joke. 

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This is a check out this Line by
Reuters, EU Parliament backs, 

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labeling, gas and nuclear 
Investments as green. 

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Yeah, that's right. 
You read that, right? 

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I'm not kidding. 
This is a real article. 

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The European Parliament on 
Wednesday. 

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Back to EU rules, labeling 
investments in gas, and nuclear 

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power plants as 
climate-friendly. 

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Throwing out an attempt to block
the law that has exposed deep 

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Rifts between countries over how
to fight climate change, the new

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rules will Gad gas and nuclear 
power. 

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Plants to the EU, taxonomy rule 
book from 2023. 

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Enabling investors to label and 
Market investments in them as 

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green. 
Remember this all part of the 

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ESG stuff, right? 
Why are they talking about 

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Investors? 
It's all part of the ESG stuff. 

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Remember the the if you if 
you're labeled as ESG friendly 

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you are more friendly company to
invest in. 

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Right? 
So the whole thing is a scam and

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guys look like we caught the 
other so-called ESG Proved fun. 

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Investing in oil, gas companies.
Write this whole thing is a 

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scam. 
Natural gas is now green. 

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Nuclear energy is now green. 
Why are they doing this? 

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Why are they pivoting? 
All of a sudden? 

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Well, because Germany, shut down
all their nuclear power plants 

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and then Russia invaded, 
Ukraine, right? 

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And for anybody that doesn't 
know. 

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Russia is a huge natural. 
Gas producer and Europe, still 

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relies. 
I think it's like 40% Sent on 

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Russian natural gas. 
So think about it right now, 

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these European countries that 
are hostile towards Russia 

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because of the invasion of 
Ukraine, all of a sudden they 

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need energy. 
So all of a sudden nuclear 

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nuclear energy and natural gas 
is green, this is this is why 

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I'm talking about this guy's, 
this is a joke, this is a clown 

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where you can't take these 
people seriously. 

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Listen, if they're really that 
principled, they would keep 

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Cheap natural gas and nuclear 
energy as non-green, but because

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they need the energy now because
reality is smacking them in the 

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face, all of a sudden, those 
things that are not so great in 

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the past have been labeled as 
green. 

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And therefore now they're good 
at ESG Investments. 

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This whole thing is just 
ridiculous. 

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So remember when these people 
inevitably attack Bitcoin mining

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Remind them of this and also a 
little question for you. 

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Phil does this mean now the 
Bitcoin miners that are powered 

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by nuclear energy and natural 
gas? 

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Does that make them green now to
just like I taught, ya know, 

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that's absolutely right Nico, 
that's what I was thinking. 

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As you were talking like, wait a
second. 

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I'm like, dude did we just win 
in directly? 

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And they didn't want that to 
happen, because think about, 

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it's right. 
There's there's people, you 

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know, there's people companies 
like Upstream data. 

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You know that are you know 
essentially going and fitting 

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all of these you know all of 
these gas producers all of the 

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you know will say the the fire 
the fire run off, right? 

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The flaring and they're fitting 
them all with these conversion 

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units. 
So did all of a sudden did we 

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just did everybody just 
completely ignore the the 

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flaring and there you go. 
It's green. 

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The other point is I just want 
to. 

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I just want to bring up, this is
all greenwashing right? 

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This has this has never had 
anything to do with the 

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environment. 
I think that this is what a lot 

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of people. 
Will misunderstand. 

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And I know that it's really 
empowering to get behind, you 

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know, some of these some of 
these movements, right? 

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Because it sounds great, it 
feels good, you know, it feels 

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like you're doing something 
right but you really gotta take 

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a look at where the money is 
coming from and what the 

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motivation really is and then it
becomes very difficult and then 

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you start to realize, well, you 
know what? 

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They may have a really positive 
message but unfortunately the 

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end that they are driving. 
Is not the end that you as an 

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individual necessarily want to 
have because this ESG narrative 

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is not going to end with, you 
know, everybody. 

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Happy running through the fields
and it's unicorns and rainbows, 

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okay? 
It's going to be every single 

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person in a tiny little pod with
like, a really garbage VR 

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headset. 
Living a life like a slave for 

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real, you know, I know it sounds
crazy, but we're driving towards

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that and you know, let's face 
it. 

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There's a nice portion of us 
that don't want to see that. 

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So anyways, bye. 
I just painted a dark picture, 

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Dan, Daniel. 
I agree. 

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It's attempt to go back to a 
feudal system where he serves 

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depending on your feudal Lord 
because he's got the power and 

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the energy available to run 
things and that's what's one of 

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the major things that have grown
Society is the abundance of 

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energy. 
And when you take that away, you

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take away, take away 
socialisation. 

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Or severely reduce it. 
Absolutely. 

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You hit that, you hit the nail 
on the head, you control energy,

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you control people, same with 
food, you control food, you 

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control people. 
I actually picked this topic 

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because I knew Daniel would like
it and yet as in butter, and 

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then, as well. 
So yeah, it's total clown world.

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Like this is just such an 
exposure, feel like, oh, it's 

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green when we need it. 
Well, that's it. 

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No, but that, that's Exactly it,
right? 

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It's green one need when we need
it, but the problem is at the 

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end of the day is that it never 
has anything. 

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As you've said to me, right? 
Like it's it never has anything 

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to do with providing any kind of
actual change anywhere. 

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It's always just to fit the 
current narrative. 

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Like, I always feel like we're 
just, it's always kicking the 

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can down the road and we're 
always moving the goalposts. 

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And those of us who are actually
calling this stuff out, we start

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to sound insane. 
Yeah, 100%. 

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And this is just another Example
of central planning meeting 

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reality. 
Okay? 

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They thought oh we're gonna you 
know just green all these in all

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these energy producer, da. 
Look at. 

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Now, look at how much look how 
much more at Germany is paying 

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for power electricity. 
Do you think those citizens 

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signed up for that? 
Do you think they signed up? 

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Do you think they knew this was 
coming? 

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They would have never have 
agreed to this. 

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So it was marketed again, I'm 
not questioning the intentions 

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and I'm not Questioning the 
nobility of fighting climate 

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change. 
What I'm questioning is dude, 

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we've tried this. 
Look at the outcome. 

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The outcome is showing you to 
something totally different than

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your intended. 
Your intended what you want? 

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What you were intending to do 
and look at the end of the day 

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just because you're not 
producing natural gas in your 

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country and your actually 
importing it from another 

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country. 
If you're still here, it's it's 

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what we're all sharing. 
Sharing the same atmosphere. 

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So I think it's just look, it 
highlights their hypocrisy and I

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just think this is going to 
continue ESG must be called out.

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Not only is an enemy of Bitcoin,
it's an enemy of humanity, it's 

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00:10:43,200 --> 00:10:48,000
anti-human but anyways, Phil 
it's time for the daily fail 

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00:10:48,000 --> 00:10:52,000
brought to you by Swan. 
Check them out, Swan Bitcoin 

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00:10:52,000 --> 00:10:56,100
automated savings, plans, 
instant purchases, they've got 

195
00:10:56,100 --> 00:11:00,100
an app that's coming out. 
It is a DC, a platform. 

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00:11:00,300 --> 00:11:02,700
By fellow plebs. 
The link is down below. 

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00:11:02,800 --> 00:11:05,300
All right, I figured I figured 
at this point we have so many 

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00:11:05,300 --> 00:11:08,300
gaslighting headlines that we 
could just probably pick 

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00:11:08,300 --> 00:11:09,900
one-a-day. 
So I'm going to attempt to do 

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this. 
So this is our quick gaslighting

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headline of the day, shoutout to
icoc, not for tagging me in 

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00:11:15,300 --> 00:11:16,700
this. 
Here we go. 

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00:11:16,700 --> 00:11:19,700
Shout out the clown world of 
course, for posting this from 

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Bloomberg UK, the surge in gas 
prices isn't as painful as it 

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00:11:24,500 --> 00:11:26,600
looks, that's right. 
Everything you're experiencing, 

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you're experiencing okay, 
they're just whatever it is. 

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00:11:29,400 --> 00:11:32,000
You think that You're actually 
experiencing that's none of its 

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real. 
So, yeah, have fun. 

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00:11:33,900 --> 00:11:37,700
Keep going on with your life. 
It's happening. 

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You didn't just say that we 
didn't just charge you that 

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everything's good anyways. 
It's insane. 

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00:11:45,600 --> 00:11:47,300
Okay, okay. 
Here we go. 

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00:11:48,200 --> 00:11:51,000
Of course, the Meltdown 
continues, the Meltdown 

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00:11:51,000 --> 00:11:52,700
continues, and we have this 
great video. 

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00:11:52,700 --> 00:11:54,400
This is a tweet from a Trier 
hottel. 

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00:11:54,400 --> 00:11:57,000
So here we go. 
Question is Bitcoin maximalism 

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00:11:57,000 --> 00:11:59,200
dead answer. 
This could be it. 

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I'm not going to be Presumptuous
to think I've killed it. 

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But man, this is God, this is 
gotta effing hurt. 

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Whoa, killer blow. 
What is he talking about? 

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00:12:08,400 --> 00:12:11,200
He's talking about a 
essentially, this was a podcast.

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I'm just looked I don't know 
what podcast from should coin 

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00:12:13,600 --> 00:12:17,800
her podcast, okay. 
And there's what's his name? 

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00:12:17,900 --> 00:12:22,200
Ryan s atoms on the upper 
left-hand side, he shills eith 

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all day long. 
I don't know who this dude is 

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00:12:26,100 --> 00:12:28,400
and this is, this is Nick 
Carter. 

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00:12:28,700 --> 00:12:32,400
So let's just take a quick 
listen, 30 seconds and we're 

228
00:12:32,400 --> 00:12:36,000
just gonna I guess we're going 
to admire, we're going to admire

229
00:12:36,200 --> 00:12:39,300
What's happening here? 
Okay, just take a second here 

230
00:12:39,300 --> 00:12:43,300
and Bow Down. 
I don't need these people for 

231
00:12:43,300 --> 00:12:45,500
anything, right? 
They're not coming to me for 

232
00:12:45,500 --> 00:12:47,300
investment. 
These are not the founders that 

233
00:12:47,300 --> 00:12:49,700
I'm busting. 
He's a certainly not the people 

234
00:12:49,700 --> 00:12:54,500
that invest in my fund tell you 
that getting through, when Max 

235
00:12:54,500 --> 00:12:56,400
was going to die though, is it 
going? 

236
00:12:56,900 --> 00:12:59,600
Is this Korea it. 
I'm not going to security. 

237
00:12:59,600 --> 00:13:05,000
I'm not gonna you know be like 
so presumptuous as to think that

238
00:13:05,000 --> 00:13:07,700
I killed it but man this is got 
a fucking hurt. 

239
00:13:08,500 --> 00:13:13,500
You know, there's not that many 
defectors left, what? 

240
00:13:14,000 --> 00:13:17,400
Okay, anyways, so look 
obviously, obviously bitcoiners,

241
00:13:17,400 --> 00:13:20,000
you know, Bitcoin has started 
answering back, but I think my 

242
00:13:20,000 --> 00:13:23,800
favorite response before we talk
about this and we dive into the 

243
00:13:23,800 --> 00:13:25,800
the you know, the next part of 
the fail. 

244
00:13:27,000 --> 00:13:30,800
We got a response from fellow 
Bitcoin, ER and Bitcoin 

245
00:13:30,800 --> 00:13:35,900
maximalist John Carvalho Bitcoin
error log on Twitter. 

246
00:13:35,900 --> 00:13:39,500
And this was great right here. 
He tweeted it. 

247
00:13:39,500 --> 00:13:42,700
Nick want to do an interview so 
we can take bets as to whether 

248
00:13:42,700 --> 00:13:46,700
you cry or rage quit by the end.
But now that's a great reference

249
00:13:46,700 --> 00:13:50,600
for those of us who saw the the 
interview from I believe it was 

250
00:13:50,600 --> 00:13:53,700
2018 or 2017 with with Roger 
ver. 

251
00:13:53,700 --> 00:13:56,900
Roger ver rage quit on the the 
stream and here was a response 

252
00:13:56,900 --> 00:14:02,700
from Alexander the hostler and 
yes John did say be cash one too

253
00:14:02,700 --> 00:14:05,700
many times. 
And he made Roger quit. 

254
00:14:05,700 --> 00:14:08,400
So okay. 
I'm going to I'm going to move 

255
00:14:08,400 --> 00:14:12,300
this over to to Nico. 
I before it before I say 

256
00:14:12,300 --> 00:14:15,800
anything. 
What are your thoughts on what 

257
00:14:15,800 --> 00:14:19,400
is happening? 
I'm, I tweeted this today so I'm

258
00:14:19,408 --> 00:14:22,300
gonna do it because its original
thought and I'll pop it up for 

259
00:14:22,300 --> 00:14:24,900
you guys on screen and it's all 
capitalized. 

260
00:14:24,900 --> 00:14:29,500
So I have to scream it or if 
Bitcoin needed. 

261
00:14:29,500 --> 00:14:34,300
Any one person, it would defeat 
the purpose of Bitcoin. 

262
00:14:36,400 --> 00:14:41,100
Perfect. 
So yeah like he's talking as if 

263
00:14:41,100 --> 00:14:44,800
like he's all this all-important
God and I only invest in 

264
00:14:44,800 --> 00:14:50,100
Founders and Bitcoin maximalist 
need me it would defeat the 

265
00:14:50,100 --> 00:14:54,000
entire person purpose if Bitcoin
needed anyone. 

266
00:14:54,000 --> 00:14:56,000
So Bitcoin maximalist don't need
you. 

267
00:14:56,000 --> 00:14:58,800
They don't need anybody that's 
the whole purpose of Bitcoin. 

268
00:14:58,800 --> 00:15:01,100
Right? 
And I think that what's gets 

269
00:15:02,100 --> 00:15:05,100
below a lot of these peoples 
like fingernails, like what 

270
00:15:05,100 --> 00:15:08,100
really? 
Drives them crazy is the fact 

271
00:15:08,100 --> 00:15:10,700
that Bitcoin levels the playing 
field. 

272
00:15:10,700 --> 00:15:14,200
So if you have point zero, zero 
one Bitcoin. 

273
00:15:14,300 --> 00:15:18,300
And if you have 10 Bitcoin, the 
Bitcoin Network, sees you the 

274
00:15:18,300 --> 00:15:21,000
same, right? 
And then that also applies to 

275
00:15:21,008 --> 00:15:24,000
people's mindsets, right? 
And also applies to the internet

276
00:15:24,100 --> 00:15:27,800
any pleb, right? 
Could just go and call him out 

277
00:15:27,800 --> 00:15:33,500
on his bullshit and he had can 
make them go away, right? 

278
00:15:33,600 --> 00:15:41,800
So it's funny because I like 
Bitcoin but as soon as blog five

279
00:15:41,800 --> 00:15:44,700
went to shit and that's a 
company that Nick Carter 

280
00:15:44,700 --> 00:15:47,800
invested in. 
Fuck these plebs when 

281
00:15:47,800 --> 00:15:50,300
everything's going good during 
the bull which is why we bring 

282
00:15:50,300 --> 00:15:53,000
this up. 
So so often on the show yeah 

283
00:15:53,000 --> 00:15:59,100
we're all friends Kumbaya but 
when the bear Market hits the 

284
00:15:59,100 --> 00:16:02,500
reality is situation hits the 
reality that you invested in 

285
00:16:02,500 --> 00:16:06,300
shit coin companies and what 
you're doing is You're excusing 

286
00:16:06,300 --> 00:16:09,400
yourself and when you invest in 
shit, coin companies, you're in 

287
00:16:09,400 --> 00:16:14,100
directly attacking Bitcoin, your
incentives are not aligned with 

288
00:16:14,100 --> 00:16:17,200
Bitcoin. 
Your incentives are aligned with

289
00:16:17,200 --> 00:16:21,100
shit coins, shit, coins, need to
function, any to work. 

290
00:16:21,100 --> 00:16:24,400
They need to become successful 
in order for the shit coin 

291
00:16:24,400 --> 00:16:29,000
companies, you invested in to 
become successful also and this 

292
00:16:29,000 --> 00:16:34,600
whole thing where oh we I own. 
There's not enough Bitcoin 

293
00:16:34,600 --> 00:16:37,300
companies to invest Vest in, 
that's bullshit. 

294
00:16:37,300 --> 00:16:41,400
I know Matt and Marty have a 
fund Phil and I have invested in

295
00:16:41,400 --> 00:16:43,300
a couple Bitcoin companies as 
well. 

296
00:16:43,500 --> 00:16:49,400
So this whole concept that, oh 
yeah, you need a like there's 

297
00:16:49,400 --> 00:16:51,900
no, there's not enough Bitcoin 
could that that's bullshit. 

298
00:16:51,900 --> 00:16:55,000
That's an excuse. 
You're, you're trying to chase 

299
00:16:55,000 --> 00:16:58,300
the short-term deal, the 
short-term profits. 

300
00:16:58,400 --> 00:17:01,700
You're not thinking long-term so
shame on Nick Carter. 

301
00:17:01,700 --> 00:17:05,700
Shame on his fucking elitism. 
Thank God for Bitcoin because It

302
00:17:05,700 --> 00:17:07,900
doesn't fly here and it's 
driving him. 

303
00:17:07,900 --> 00:17:11,200
Absolutely crazy. 
Max Keiser said, something 

304
00:17:11,200 --> 00:17:15,400
really smart when he came on the
show about a year ago, he said 

305
00:17:15,400 --> 00:17:19,700
that Bitcoin exposes the 
egomaniacs and this is exactly 

306
00:17:19,700 --> 00:17:24,000
what Bitcoin is doing here. 
He really thinks his special no 

307
00:17:24,000 --> 00:17:26,700
one is special in Bitcoin. 
We're all the same, we're all 

308
00:17:26,700 --> 00:17:29,000
plebs. 
You either join the movement or 

309
00:17:29,000 --> 00:17:31,100
you don't it's really that 
simple. 

310
00:17:31,300 --> 00:17:35,400
And Nick Carter we appreciate 
what you've contributed. 

311
00:17:35,500 --> 00:17:39,000
Today, especially in fighting 
the Bitcoin climate flood. 

312
00:17:39,300 --> 00:17:44,500
But dude, that does not give you
a pass here and your reaction 

313
00:17:44,500 --> 00:17:48,000
towards people calling you out. 
Really shows your true 

314
00:17:48,000 --> 00:17:50,000
character. 
Anyways, Daniel, what are your 

315
00:17:50,000 --> 00:17:54,000
thoughts brother? 
Exactly what I tweeted earlier 

316
00:17:54,000 --> 00:17:58,000
today it's either die. 
The hero or you live long enough

317
00:17:58,000 --> 00:18:02,000
to see yourself become the 
villain and we've seen that in 

318
00:18:02,000 --> 00:18:09,200
Bitcoin over and over and over. 
And it's sad to watch very well 

319
00:18:09,200 --> 00:18:11,500
said and unfortunately it is 
true. 

320
00:18:11,900 --> 00:18:14,200
You know that that does the you 
know that that doesn't not 

321
00:18:14,200 --> 00:18:17,200
happening to a lot of people 
because eventually you get to a 

322
00:18:17,200 --> 00:18:21,400
tilt you know with power with 
maybe you get in a murdered with

323
00:18:21,400 --> 00:18:25,200
your own success you know 
whatever it is and you know all 

324
00:18:25,200 --> 00:18:29,300
of a sudden you know when you go
unchecked unfortunately usually 

325
00:18:29,300 --> 00:18:33,500
devolves into a form of 
megalomania which is you know 

326
00:18:33,500 --> 00:18:36,500
it's all about you and And 
unfortunately, like that's you 

327
00:18:36,508 --> 00:18:37,800
know, that that's what you can 
see here. 

328
00:18:37,800 --> 00:18:40,800
I mean, don't get me wrong, you 
know, I feel that, you know, he 

329
00:18:40,800 --> 00:18:42,700
could have just simply handled 
this gracefully. 

330
00:18:42,700 --> 00:18:46,000
I don't know, I don't know why, 
you know, he chose the route 

331
00:18:46,000 --> 00:18:49,300
that he chose I mean, obviously,
you're muted. 

332
00:18:51,200 --> 00:18:52,600
It's obvious. 
Phil, it's obvious. 

333
00:18:52,600 --> 00:18:56,500
Why he chose it, dude? 
He he was riding High. 

334
00:18:56,700 --> 00:18:59,600
Okay. 
Then his investment started to 

335
00:18:59,600 --> 00:19:04,100
blow up his vestments, start to 
blow up, it makes his VC font 

336
00:19:04,100 --> 00:19:06,800
look very bad. 
It makes him look bad. 

337
00:19:07,100 --> 00:19:10,100
And the, and the bitcoiners were
the first to call him out on 

338
00:19:10,100 --> 00:19:12,700
that shit. 
And he fucking snapped, that's 

339
00:19:12,700 --> 00:19:15,700
what happened, he snapped. 
And and then you said it, you 

340
00:19:15,700 --> 00:19:18,600
see it in the rhetoric that he 
was talking. 

341
00:19:18,900 --> 00:19:22,400
Oh, you guys don't get into. 
Private Equity, right? 

342
00:19:22,400 --> 00:19:24,100
So it's like a defense 
mechanism. 

343
00:19:24,100 --> 00:19:26,600
It's like he's he soothing 
himself right. 

344
00:19:26,600 --> 00:19:29,800
He's trying to make himself feel
better because of the decisions 

345
00:19:29,800 --> 00:19:33,700
that he took with VC. 
Now, here's the thing, dude, an 

346
00:19:33,700 --> 00:19:36,500
investment is never 100% unless 
it's Bitcoin, of course. 

347
00:19:36,800 --> 00:19:39,200
So like if you're investing into
a company that's there's no 

348
00:19:39,200 --> 00:19:42,800
guarantee that it's going to 
work out, right? 

349
00:19:42,900 --> 00:19:46,000
So I'm not criticizing that, 
okay? 

350
00:19:46,100 --> 00:19:49,800
But what I am criticizing 
though, is his reaction. 

351
00:19:51,000 --> 00:19:54,400
And the elitism. 
And of course, the do the 

352
00:19:54,400 --> 00:19:58,300
attacking Bitcoin maximalism 
Bitcoin maximalism and the 

353
00:19:58,300 --> 00:20:02,300
so-called toxicity that everyone
criticizes the reality of the 

354
00:20:02,500 --> 00:20:06,300
reality of the situation. 
Is that, that is a necessary in 

355
00:20:06,300 --> 00:20:10,200
my, in my opinion, that is a 
necessary feature, right? 

356
00:20:10,200 --> 00:20:12,900
Because that right, this 
decentralized, immune system, 

357
00:20:12,900 --> 00:20:16,900
that is Bitcoin Twitter. 
It always catches the scammers, 

358
00:20:17,200 --> 00:20:19,200
always and the people that hate 
it. 

359
00:20:19,200 --> 00:20:23,600
The most are the Murmurs right. 
But it's never mentioned how 

360
00:20:23,600 --> 00:20:28,000
many people that saved right 
look how much he Cory's getting 

361
00:20:28,000 --> 00:20:30,900
recently for calling out 
scammers. 

362
00:20:31,000 --> 00:20:34,400
Right? 
So anyways, Phil, yeah, no II. 

363
00:20:34,400 --> 00:20:38,200
You know, I what I was going to 
say was was that this just made 

364
00:20:38,200 --> 00:20:41,700
him look alike, you know a lot 
worse and perception is reality.

365
00:20:41,900 --> 00:20:44,900
So essentially all you know, 
like it's like, you know, he 

366
00:20:44,900 --> 00:20:46,700
made these comments about, you 
know, none of these people are 

367
00:20:46,700 --> 00:20:49,100
investing in my VCS. 
I don't, I don't think, you 

368
00:20:49,100 --> 00:20:51,800
know, you shouldn't just assume 
Zoom right? 

369
00:20:51,800 --> 00:20:54,100
You shouldn't just assume that 
because somebody is a troll on 

370
00:20:54,100 --> 00:20:55,600
Twitter. 
Like why would you make the 

371
00:20:55,600 --> 00:20:57,400
Assumption? 
As to what wealth they have? 

372
00:20:57,700 --> 00:21:00,100
I've known plenty of people in 
my life who don't look like they

373
00:21:00,100 --> 00:21:02,100
have two pennies to rub 
together, okay? 

374
00:21:02,100 --> 00:21:06,400
And they probably have more 
wealth than the majority of 

375
00:21:06,400 --> 00:21:09,900
people. 
So this is this is complete 

376
00:21:09,900 --> 00:21:14,100
nonsense and it's exactly what 
you said it is total elitism and

377
00:21:14,100 --> 00:21:17,500
it's really cringe to watch and 
that video. 

378
00:21:18,300 --> 00:21:20,900
I mean, look, you know, you're 
going to get support from like 

379
00:21:21,000 --> 00:21:24,200
Biggest scammers right now on 
the face of the earth, I mean, 

380
00:21:24,200 --> 00:21:29,000
literally etherium is the 
biggest Affinity scam Niko, was 

381
00:21:29,000 --> 00:21:30,900
it was, it's a 15 that that 
called it. 

382
00:21:30,900 --> 00:21:33,800
The the asshole from which all 
the shit coins come from 

383
00:21:34,200 --> 00:21:36,700
something like that. 
I don't know if it was him, I 

384
00:21:36,700 --> 00:21:39,100
could be misquoting. 
But somebody said that, you 

385
00:21:39,100 --> 00:21:41,600
know, and that was and I think 
it was him and it was absolutely

386
00:21:41,600 --> 00:21:42,600
correct. 
Well you know what? 

387
00:21:42,600 --> 00:21:44,400
And it's definitely a great 
quote. 

388
00:21:44,400 --> 00:21:47,500
So yeah. 
Okay so that it is that's that's

389
00:21:47,500 --> 00:21:50,800
an amazing quote. 
Anyways Phil what is it? 

390
00:21:51,700 --> 00:21:53,500
I was gonna say, do we have time
for the next fail? 

391
00:21:53,600 --> 00:21:56,000
Absolutely. 
Okay, excellent got like 10 

392
00:21:56,000 --> 00:21:57,900
minutes. 
Ah, excellent excellent. 

393
00:21:57,900 --> 00:21:59,300
Okay, good good. 
Here we go. 

394
00:21:59,300 --> 00:22:02,000
Let's dive into this. 
This is going to be confusing 

395
00:22:02,000 --> 00:22:02,900
AF. 
Here we go. 

396
00:22:02,900 --> 00:22:07,300
Alright, moving on to some 
weirdness but not really 

397
00:22:07,300 --> 00:22:08,500
weirdness. 
I guess it's nothing's 

398
00:22:08,500 --> 00:22:10,400
unexpected anymore in Bitcoin 
right. 

399
00:22:10,400 --> 00:22:13,700
Everything just kind of mutates 
and shifts and apparently it 

400
00:22:13,700 --> 00:22:18,500
looks like it looks like KY 
caml. 

401
00:22:18,600 --> 00:22:21,400
It's getting a bit of a facelift
or has gotten a bit of Facelift 

402
00:22:21,400 --> 00:22:23,300
Nico, you might appreciate this 
maybe dr. 

403
00:22:23,300 --> 00:22:24,700
Ron Paul. 
We might have to get him back on

404
00:22:24,700 --> 00:22:25,800
to talk about this at some 
point. 

405
00:22:25,800 --> 00:22:28,300
Here we go, guys regulatory 
scrutiny. 

406
00:22:28,300 --> 00:22:33,000
Increasing as crypto becomes 
Financial stability risks all my

407
00:22:33,000 --> 00:22:35,400
gosh. 
Nico who could have ever for 

408
00:22:35,400 --> 00:22:38,300
seen this coming, right? 
Let's be honest about talking 

409
00:22:38,300 --> 00:22:40,200
about talking about shit coins, 
right? 

410
00:22:40,200 --> 00:22:43,100
It's really Bitcoin and shit 
coins, okay? 

411
00:22:43,400 --> 00:22:45,900
And that's right, Financial 
stability, risks. 

412
00:22:45,900 --> 00:22:48,200
We knew that this was coming 
because you can't just keep 

413
00:22:48,200 --> 00:22:50,800
printing money Into Thin Air and
everybody losing faith on. 

414
00:22:50,900 --> 00:22:53,400
On their money. 
You can't just keep doing that 

415
00:22:53,800 --> 00:22:56,000
without finding a scapegoat. 
So here we go. 

416
00:22:56,200 --> 00:22:58,700
It's been a sharp increase in 
regulations targeting the 

417
00:22:58,700 --> 00:23:02,400
Bitcoin and shit coin space with
regulatory bodies mainly in 

418
00:23:02,400 --> 00:23:05,300
North America and Europe. 
Here we go. 

419
00:23:05,500 --> 00:23:14,700
Found a global reg, reg Tech 
regulatory technology firm Cube.

420
00:23:14,900 --> 00:23:20,100
I've never heard of cube before.
Hmm, interesting, let's just 

421
00:23:20,200 --> 00:23:21,300
take a pause. 
Over here. 

422
00:23:21,300 --> 00:23:26,500
What is regulatory technology or
reg Tech typically regulatory 

423
00:23:26,500 --> 00:23:30,600
technology or reg tech provides 
the tools needed to facilitate 

424
00:23:30,600 --> 00:23:33,800
governance? 
Mitigate risk, ensure compliance

425
00:23:33,900 --> 00:23:37,500
and deliver regulatory reporting
while Financial Services firms 

426
00:23:37,500 --> 00:23:40,300
have leverage technology for 
regulatory purposes for some 

427
00:23:40,300 --> 00:23:43,800
time. 
Reg Tech terminology first 

428
00:23:43,800 --> 00:23:46,900
emerge at the end of 2016. 
Sounds like some made-up 

429
00:23:46,900 --> 00:23:48,300
bullshit. 
For some software, you're going 

430
00:23:48,300 --> 00:23:55,600
to sell Anyways, Moving On, 
Moving, On, Here We Go. 

431
00:23:56,200 --> 00:24:02,700
Cube said that there has been a 
7436 percent, increase in 

432
00:24:02,900 --> 00:24:07,600
Bitcoin and shit, coin, related 
regulatory messaging in the 

433
00:24:07,600 --> 00:24:09,800
past. 
Four years, that's pretty spicy 

434
00:24:10,200 --> 00:24:14,800
compared to pre 2018, We've got 
to do something about this Nico.

435
00:24:16,100 --> 00:24:19,000
The government said more words 
about regulation. 

436
00:24:19,000 --> 00:24:22,100
That's Daniel, we need to fix 
this. 

437
00:24:22,100 --> 00:24:25,000
There needs to be software that 
fixes this and we need to make 

438
00:24:25,000 --> 00:24:28,300
sure that we ensure compliance. 
Here we go, don't worry, these 

439
00:24:28,300 --> 00:24:31,200
guys are going to help the 
report acknowledged that the 

440
00:24:31,200 --> 00:24:33,800
Bitcoin should coin Market has 
already grown to become a 

441
00:24:33,800 --> 00:24:37,800
critical piece of the Global 
Financial system and that risks 

442
00:24:37,800 --> 00:24:41,000
from Bitcoin and shit coins, 
could spill over into the 

443
00:24:41,000 --> 00:24:46,100
traditional markets, very risque
as the participation of 

444
00:24:46,200 --> 00:24:49,200
Investors increases for Bitcoin 
and shit coins. 

445
00:24:49,200 --> 00:24:52,400
Sore. 
So, to do the risks that market 

446
00:24:52,400 --> 00:24:55,900
volatility for Bitcoin and 
should coins, could have a 

447
00:24:55,900 --> 00:25:00,700
knock-on effect for the global 
economy, it is fast becoming a 

448
00:25:00,700 --> 00:25:04,600
financial stability risk. 
Okay. 

449
00:25:04,900 --> 00:25:08,000
Alright, so here we go. 
We're knocking on that door now.

450
00:25:08,500 --> 00:25:10,700
Here we go. 
Bitcoins going to cause the end 

451
00:25:10,700 --> 00:25:13,800
of money. 
Among the issues that Cube finds

452
00:25:13,800 --> 00:25:16,700
Regulators have missed, is the 
here we go. 

453
00:25:16,900 --> 00:25:20,700
Let's throw in some ESG 
sustainability aspect, the 

454
00:25:20,700 --> 00:25:22,200
Bitcoin is Jim quick. 
Okay. 

455
00:25:22,200 --> 00:25:24,200
So it's not just the financial 
instability. 

456
00:25:24,300 --> 00:25:26,300
Now we're going to sprinkle in 
some ESG into this. 

457
00:25:26,300 --> 00:25:29,800
Here we go. 
So, the argued that the failure 

458
00:25:29,800 --> 00:25:32,800
to address the environmental 
impact of Bitcoin should coins 

459
00:25:32,800 --> 00:25:37,000
will lead to an inevitable Clash
of two Titans That Could set the

460
00:25:37,000 --> 00:25:39,900
trajectory of the modern 
Financial world back 

461
00:25:39,900 --> 00:25:42,600
significantly. 
Guys, these are terrible things.

462
00:25:42,600 --> 00:25:47,300
The world is coming to an end 
unless we give this company, 

463
00:25:47,300 --> 00:25:51,900
absolute power and let their 
software fix everything time is 

464
00:25:51,900 --> 00:25:55,200
running out before the 
volatility of Bitcoin and should

465
00:25:55,200 --> 00:25:57,500
coin bleeds into the Global 
Financial stability. 

466
00:25:57,600 --> 00:26:00,000
Already. 
They may use stable coins as a 

467
00:26:00,000 --> 00:26:03,200
blueprint for new regulation to 
come undoubtedly International 

468
00:26:03,200 --> 00:26:07,600
bodies will work tirelessly to 
tie centralized regulation 

469
00:26:07,600 --> 00:26:10,700
together with a decentralized 
currency. 

470
00:26:11,000 --> 00:26:14,300
That might makes no sense that 
because last part makes 

471
00:26:14,300 --> 00:26:18,000
absolutely no sense whatsoever. 
None, none. 

472
00:26:18,300 --> 00:26:22,100
Okay, these literally, I just I 
read you an ad for a company 

473
00:26:22,200 --> 00:26:26,400
that is going to save. 
Save the world, save the world. 

474
00:26:27,500 --> 00:26:31,000
With ESG, and they're going to 
stop the Global Financial 

475
00:26:31,000 --> 00:26:35,300
stability by putting together. 
These reports that there's been 

476
00:26:35,400 --> 00:26:38,700
seven thousand percent increase 
about the words. 

477
00:26:39,300 --> 00:26:43,100
I I don't understand anything 
that these guys are doing, okay?

478
00:26:43,400 --> 00:26:45,900
I don't understand anything. 
I don't understand how they fix 

479
00:26:45,900 --> 00:26:50,000
Financial stability, I don't 
understand how anybody is even 

480
00:26:50,000 --> 00:26:55,400
bringing these people in to 
listen to them just in white 

481
00:26:55,400 --> 00:27:00,200
paper. 
It sounds like one I check their

482
00:27:00,200 --> 00:27:02,200
website, there's no shit going 
yet. 

483
00:27:02,800 --> 00:27:04,500
Yeah, that's the key word, 
right? 

484
00:27:04,500 --> 00:27:08,000
Regulatory token, Christine 
lagarde's all about that. 

485
00:27:08,000 --> 00:27:11,700
She's a, she's an advisor. 
Yeah, go ahead. 

486
00:27:12,000 --> 00:27:14,400
I just wanted to say so there's 
three things right? 

487
00:27:14,500 --> 00:27:17,200
They're bringing in financial 
regulation. 

488
00:27:17,500 --> 00:27:21,500
Okay. 
They also they are also making 

489
00:27:21,500 --> 00:27:25,000
sure that they're fixing ESG. 
Okay. 

490
00:27:27,700 --> 00:27:32,300
And they're also making sure 
that they're stopping. 

491
00:27:32,800 --> 00:27:35,200
I don't understand that they're 
making sure that the messages 

492
00:27:35,200 --> 00:27:37,700
are in check for financials, I 
don't get it. 

493
00:27:37,700 --> 00:27:41,700
I'm sorry dude, I went through 
it multiple times. 

494
00:27:41,700 --> 00:27:43,700
I couldn't figure out what they 
do, I just know that they're 

495
00:27:43,700 --> 00:27:47,400
helping the crypto World somehow
II noticed. 

496
00:27:47,400 --> 00:27:50,600
They use that word you know, 
Financial stability. 

497
00:27:51,200 --> 00:27:53,400
That's a great. 
That's a buzz word that you 

498
00:27:53,400 --> 00:27:55,800
know, all these Central Bankers 
are using to. 

499
00:27:56,000 --> 00:28:02,000
But what Really mean, by 
Financial stability is financial

500
00:28:02,000 --> 00:28:04,600
stability for their jobs. 
That's what they mean that 

501
00:28:04,600 --> 00:28:07,100
they're not really talking about
the world, they're talking about

502
00:28:07,100 --> 00:28:11,600
themselves and it's all 
projection, man, I would even 

503
00:28:11,600 --> 00:28:16,300
make the argument that, because 
the, the feds original stated 

504
00:28:16,300 --> 00:28:22,200
goal, was to calm down the 
volatility, right to control, 

505
00:28:22,200 --> 00:28:26,100
inflation to control 
unemployment, right? 

506
00:28:26,300 --> 00:28:29,600
I would make the argument At 
that, if the FED didn't exist, 

507
00:28:29,800 --> 00:28:33,400
the free market would have done 
a whole lot better than the fat.

508
00:28:33,500 --> 00:28:39,000
Keep in mind guys that the Great
Depression, the recession of 

509
00:28:39,000 --> 00:28:41,400
2008 and all the other ones, 
right? 

510
00:28:41,400 --> 00:28:44,900
But those are the ones that I'm 
most familiar with that all 

511
00:28:44,900 --> 00:28:48,200
happened under the fat, all of 
it, all of it. 

512
00:28:48,200 --> 00:28:52,100
The Fed was found in 1913 the 
Great Depression, right? 

513
00:28:52,100 --> 00:28:55,100
The the whole black Fred. 
The whole thinks what happened 

514
00:28:55,100 --> 00:28:58,100
like 1929, right? 
2008. 

515
00:28:58,100 --> 00:29:00,300
What about that? 
What about this? 

516
00:29:00,600 --> 00:29:03,400
Lunacy that has just happened. 
Just now we're like the 

517
00:29:03,400 --> 00:29:05,800
beginning of it. 
I think will be, I think will 

518
00:29:05,800 --> 00:29:10,200
officially be in a recession. 
Not too long from now, right? 

519
00:29:10,200 --> 00:29:11,900
But we know that we've already 
been in one. 

520
00:29:11,900 --> 00:29:15,000
So what is they failed in their 
original mandate? 

521
00:29:15,000 --> 00:29:19,300
I would go, I would say that 
it's Central Banking that is a 

522
00:29:19,300 --> 00:29:22,900
danger to financial stability, 
Bitcoin is the cure. 

523
00:29:22,900 --> 00:29:26,400
So it goes to what I've always 
been saying when the central 

524
00:29:26,400 --> 00:29:29,100
banks Accused Bitcoin of 
something. 

525
00:29:29,300 --> 00:29:33,300
They're projecting what it is. 
They do themselves. 

526
00:29:33,300 --> 00:29:35,300
Anyways. 
Daniel, what are your thoughts 

527
00:29:35,300 --> 00:29:38,000
brother? 
Well, they're the government. 

528
00:29:38,000 --> 00:29:41,500
So if they have a failure they 
got to do it bigger and harder. 

529
00:29:43,200 --> 00:29:46,400
Yep. 
It's really the strangest thing 

530
00:29:46,400 --> 00:29:50,900
II, my as I dove into this, this
regulatory Tech, okay. 

531
00:29:51,100 --> 00:29:55,100
Essentially what they're doing 
is, is that they're, they're 

532
00:29:55,100 --> 00:29:58,000
adding another layer on top of 
kyc Am L. 

533
00:29:58,000 --> 00:30:01,300
And for some reason, this 
company is being given some type

534
00:30:01,300 --> 00:30:04,600
of a green light by the 
authorities to provide this 

535
00:30:04,600 --> 00:30:08,200
ridiculous nonsense service, 
which is already being provided 

536
00:30:08,200 --> 00:30:12,100
and failing to nicko's point. 
The glass-steagall ACT, which I 

537
00:30:12,100 --> 00:30:14,500
know some people are going to 
argue but the glass-steagall Act

538
00:30:14,500 --> 00:30:18,000
was removed and the mortgage 
crisis in sued. 

539
00:30:18,100 --> 00:30:20,700
So whether or not it was the 
cause I'm not saying it was the 

540
00:30:20,700 --> 00:30:23,200
cause, but it was definitely 
like a game of Jenga. 

541
00:30:23,200 --> 00:30:27,300
You know, they took away a piece
and everything could topple just

542
00:30:27,400 --> 00:30:31,000
say it just saying, just saying 
it's true, the go-ahead. 

543
00:30:31,000 --> 00:30:34,700
Daniel was gonna say a feel like
since we've gotten into this 

544
00:30:34,700 --> 00:30:38,900
fourth, turning type of world, 
we're living in now the Griff 

545
00:30:38,900 --> 00:30:43,400
that just Griff's, get bigger 
and broader it about everything.

546
00:30:43,500 --> 00:30:44,400
Yep. 
There. 

547
00:30:44,600 --> 00:30:47,200
It's like they're trying to get 
their last piece of stuff before

548
00:30:47,200 --> 00:30:50,300
it all falls apart. 
It's so obvious, do it. 

549
00:30:50,300 --> 00:30:52,700
And with the headline that you 
covered in the beginning, feel 

550
00:30:52,700 --> 00:30:56,000
like the gas, why? 
It's not that bad. 

551
00:30:56,100 --> 00:30:59,300
Remember that sweet from the 
House the infamous one year, 

552
00:30:59,300 --> 00:31:02,500
saving 16 cents on your 
barbecue, this year. 

553
00:31:02,600 --> 00:31:05,700
Why don't you guys tweet that 
again with the updated numbers 

554
00:31:05,700 --> 00:31:07,200
like? 
Yeah, it is. 

555
00:31:07,200 --> 00:31:09,600
It is total. 
Total clown world. 

556
00:31:09,600 --> 00:31:11,200
Where was this year's? 
Tweet Nico? 

557
00:31:11,200 --> 00:31:15,000
Oh, that's not gonna have it. 
So total clown world's opt out 

558
00:31:15,000 --> 00:31:18,300
by yourself some Bitcoin opt out
of the clown world's? 

559
00:31:18,300 --> 00:31:21,300
Yeah. 
Anyways Phil it's time for the 

560
00:31:21,300 --> 00:31:25,100
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561
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562
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564
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565
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What if you want Peter Schiff? 

566
00:31:39,400 --> 00:31:42,100
That's right. 
They make that to check out the 

567
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569
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Alright guys, so I've been 

570
00:31:51,800 --> 00:31:58,100
telling you guys, I've been 
making the argument that we Are 

571
00:31:58,100 --> 00:32:00,700
entering the then they fight you
stage right? 

572
00:32:00,900 --> 00:32:03,000
In fact, Phil and I have been 
making that argument for a 

573
00:32:03,000 --> 00:32:05,000
while. 
Now for about the last year, 

574
00:32:05,900 --> 00:32:11,500
Bitcoin has reached a size that 
it it no longer flies under the 

575
00:32:11,500 --> 00:32:16,800
radar, right? 
It's captured the attention of 

576
00:32:16,800 --> 00:32:19,700
these giant bureaucracies that 
you know. 

577
00:32:20,000 --> 00:32:23,800
I think they're I think they'll 
finally be revealed for what 

578
00:32:23,800 --> 00:32:26,700
they are. 
I think that governments that 

579
00:32:26,700 --> 00:32:30,300
are supposedly For the People by
the people, I think Bitcoin 

580
00:32:30,300 --> 00:32:33,600
exposes all incentives and I 
think it's going to expose that 

581
00:32:33,600 --> 00:32:36,700
really a lot of these 
governments instead of being by 

582
00:32:36,700 --> 00:32:39,600
the people for the people there 
by the government for the 

583
00:32:39,600 --> 00:32:43,600
government, but you still need 
to fight. 

584
00:32:44,100 --> 00:32:46,700
And this is part of the fight, 
our friend David Zale, he's been

585
00:32:46,700 --> 00:32:49,500
on the show part of the Bitcoin 
policy Institute. 

586
00:32:50,200 --> 00:32:53,000
We've been on top of this, a 
Bitcoin policy Institute is the 

587
00:32:53,000 --> 00:32:55,500
lobbying arm of the Bitcoin 
industry. 

588
00:32:55,500 --> 00:32:59,700
It's had major backers. 
And this is different than coin 

589
00:32:59,700 --> 00:33:02,900
Center even though I love Jerry 
Brito, I love his work. 

590
00:33:03,700 --> 00:33:06,500
Unfortunately, all incentives 
are not aligned because coin 

591
00:33:06,500 --> 00:33:10,700
Center represents the Bitcoin 
and should coin industry versus 

592
00:33:10,700 --> 00:33:15,100
the Bitcoin policy Institute 
that just represents the Bitcoin

593
00:33:15,100 --> 00:33:17,500
industry. 
So this is a letter that came 

594
00:33:17,500 --> 00:33:21,100
out today or maybe it was 
yesterday a couple days ago. 

595
00:33:21,500 --> 00:33:25,400
Many ways the letter is as part 
as part of the president's 

596
00:33:25,400 --> 00:33:28,800
executive order that 
International A ministration 

597
00:33:28,800 --> 00:33:33,000
requested comments from the 
public on digital assets and 

598
00:33:33,000 --> 00:33:36,300
u.s. competitiveness. 
We were pleased to submit this 

599
00:33:36,300 --> 00:33:38,300
report. 
I'm not going to read you all of

600
00:33:38,300 --> 00:33:40,500
it because it's very long, but 
I'm going to read you. 

601
00:33:40,500 --> 00:33:43,400
The part that I think matters 
and then we'll have a discussion

602
00:33:43,400 --> 00:33:46,300
on it. 
So this part of the thing is 

603
00:33:46,300 --> 00:33:49,300
called policy. 
Considerations right throughout 

604
00:33:49,300 --> 00:33:51,100
its history. 
The United States has proven its

605
00:33:51,100 --> 00:33:54,500
ability to adapt and rise. 
Rise to meet new challenges on 

606
00:33:54,500 --> 00:33:57,600
the world stage, Guided, by our 
constitutional principles of Of 

607
00:33:57,600 --> 00:34:02,000
individual, liberty, and 
justice, and buoyed, by our 

608
00:34:02,000 --> 00:34:05,300
strong economy, and the natural 
resources and human capital, at 

609
00:34:05,300 --> 00:34:10,699
our disposable, our disposal. 
As a result in times of 

610
00:34:10,699 --> 00:34:14,500
technical technological, change 
other nations around the world. 

611
00:34:14,500 --> 00:34:18,000
Look to the US for leadership 
and guidance on how to navigate 

612
00:34:18,000 --> 00:34:22,000
the novel and complex Global 
issues that inevitably arise as 

613
00:34:22,000 --> 00:34:25,699
a result of the proliferation of
new technologies, Bitcoin and 

614
00:34:25,699 --> 00:34:29,100
the rise of borderless digital 
This is merely the latest 

615
00:34:29,100 --> 00:34:33,000
technological paradigm shift and
Oculus to the widespread. 

616
00:34:33,000 --> 00:34:36,400
Adoption of the internet that 
possesses important policy 

617
00:34:36,400 --> 00:34:39,400
questions that will need to be 
answered by every state on the 

618
00:34:39,400 --> 00:34:41,800
planet. 
It is therefore imperative that 

619
00:34:41,800 --> 00:34:44,900
the United States approach. 
Any policy framework for Bitcoin

620
00:34:44,900 --> 00:34:49,199
and digital assets with care and
with an eye towards fostering, 

621
00:34:49,199 --> 00:34:53,500
the principles of freedom. 
And self-determination that we 

622
00:34:53,500 --> 00:34:56,600
seek to uphold. 
I think the last part is really 

623
00:34:56,600 --> 00:34:59,400
important. 
Fostering the principles of 

624
00:34:59,400 --> 00:35:03,400
freedom and self-determination 
that we seek to a pole. 

625
00:35:03,500 --> 00:35:06,500
Now here's the thing guys, 
here's the reality, right? 

626
00:35:08,200 --> 00:35:11,900
Bitcoin is a threat to the 
administrative States. 

627
00:35:11,900 --> 00:35:14,900
The the administrative State 
Bitcoin is a threat to the 

628
00:35:14,900 --> 00:35:20,200
bureaucracy, like, like Phil 
always points out Bitcoin 

629
00:35:20,200 --> 00:35:26,400
forces, governments to instead 
of extracting wealth, right? 

630
00:35:27,600 --> 00:35:31,100
At the point of a gun, what we 
believe and we talked a lot 

631
00:35:31,100 --> 00:35:33,900
about this on yesterday's 
episode with Mark moss and svet 

632
00:35:33,900 --> 00:35:38,100
ski is he's going to force 
governments to provide value. 

633
00:35:38,100 --> 00:35:41,500
Why do I say that? 
Because Bitcoin gives the power 

634
00:35:41,500 --> 00:35:45,300
to the individual. 
Not only to vote with their 

635
00:35:45,300 --> 00:35:48,900
wallet, but also their feet is 
very easy to take your wealth 

636
00:35:48,900 --> 00:35:51,500
with you when it comes to 
bitcoin, right? 

637
00:35:51,800 --> 00:35:58,700
So I'll of The attempt right by 
the Bitcoin policy Institute, 

638
00:35:58,700 --> 00:36:01,900
but what I believe. 
And perhaps this is a little 

639
00:36:01,900 --> 00:36:04,100
paranoid, but I think all 
bitcoiners are slightly 

640
00:36:04,100 --> 00:36:07,200
paranoid. 
I believe that this is really 

641
00:36:07,200 --> 00:36:16,400
going to expose a lot of people 
in the federal government, In 

642
00:36:16,400 --> 00:36:20,300
their belief, in what should the
role of government be in an 

643
00:36:20,300 --> 00:36:23,900
individual's life? 
I don't think they're going to 

644
00:36:23,900 --> 00:36:27,700
give over the power of 
controlling people through the 

645
00:36:27,700 --> 00:36:31,100
issuance of money and monetary 
policy lightly. 

646
00:36:31,500 --> 00:36:37,000
So I admire this type of letter 
but I'm also and I think it 

647
00:36:37,000 --> 00:36:40,600
serves the purpose of at least 
presenting our case. 

648
00:36:41,200 --> 00:36:46,300
But I am skeptical of what the 
actual result. 

649
00:36:46,300 --> 00:36:50,100
What the, what the benefits are,
what the results of I think it's

650
00:36:50,100 --> 00:36:55,000
necessary, but I also think that
you're telling this to deaf 

651
00:36:55,000 --> 00:36:58,700
ears, you're telling it to 
people that are not incentivised

652
00:36:59,000 --> 00:37:03,000
to Believe this letter to give 
up that power. 

653
00:37:03,000 --> 00:37:05,500
So to speak. 
We play. 

654
00:37:05,500 --> 00:37:08,800
We There is a, there's an image 
we showed you yesterday about 

655
00:37:08,800 --> 00:37:11,700
how the modern capitalist 
existen works. 

656
00:37:11,700 --> 00:37:14,900
It's really not a capitalist 
system, it's really crony 

657
00:37:14,900 --> 00:37:18,500
capitalism where the people at 
the top of the heart hierarchy, 

658
00:37:18,500 --> 00:37:22,500
and it doesn't move our 
politicians and bankers, right? 

659
00:37:22,500 --> 00:37:25,400
Politicians and bankers are 
threatened under bit. 

660
00:37:25,400 --> 00:37:29,000
Look at how they've reacted look
at how the IMF has reacted. 

661
00:37:29,000 --> 00:37:33,100
Look at how all the Show Bankers
around the world have reacted to

662
00:37:33,100 --> 00:37:36,500
bitcoin. 
Look at how some politicians 

663
00:37:36,500 --> 00:37:42,100
have reacted to bitcoin. 
Like and this letter is directed

664
00:37:42,100 --> 00:37:46,700
to him to them. 
They're not really incentivized 

665
00:37:46,700 --> 00:37:52,000
to understand it, so I guess 
it's useful in the sense that at

666
00:37:52,000 --> 00:37:54,000
least we're putting it on the 
record. 

667
00:37:54,000 --> 00:37:57,200
We're at least attempting to 
start a dialogue. 

668
00:37:57,800 --> 00:38:00,600
But dude, Phil perhaps, I'm 
crazy. 

669
00:38:00,600 --> 00:38:05,600
Perhaps I'm a little paranoid, 
but I just don't believe these 

670
00:38:05,600 --> 00:38:07,500
people are willing to give up 
our man. 

671
00:38:07,500 --> 00:38:10,400
I just do not believe it. 
And at what I've after what I've

672
00:38:10,400 --> 00:38:15,200
seen the last year, I'm more 
confident in that belief more 

673
00:38:15,200 --> 00:38:18,400
than ever, right? 
So yeah, Phil what are your 

674
00:38:18,400 --> 00:38:19,900
thought? 
First of all, though, that mean,

675
00:38:20,000 --> 00:38:22,500
first of all, shout out to 
David's L, Bitcoin policy 

676
00:38:22,500 --> 00:38:25,500
Institute, you guys are freaking
killing it. 

677
00:38:25,500 --> 00:38:28,200
Donate to them. 
Help us in the swamp of 

678
00:38:28,200 --> 00:38:30,900
Washington, d.c. 
David has a hell of a job in 

679
00:38:30,900 --> 00:38:35,500
front of him, but dude. 
I just, I do not believe these. 

680
00:38:35,500 --> 00:38:39,200
People are just willing to have 
dialogue in the first place. 

681
00:38:39,700 --> 00:38:42,200
That's my thoughts. 
Now beautiful. 

682
00:38:42,200 --> 00:38:45,000
You know what beautifully said 
and the the reality is, is that 

683
00:38:45,000 --> 00:38:48,600
their money printer hasn't 
broken like they like, why would

684
00:38:48,600 --> 00:38:51,000
they, you know what I mean, why 
would they give this up? 

685
00:38:51,100 --> 00:38:53,400
What is the incentive? 
They they just continue to print

686
00:38:53,400 --> 00:38:55,500
and people still value the 
money, right? 

687
00:38:55,500 --> 00:38:58,100
Like, you have a whole bunch of,
like, you have a whole bunch of 

688
00:38:58,100 --> 00:39:00,500
people, right? 
That create all types of 

689
00:39:00,500 --> 00:39:05,600
material that glorify, and that 
Essentially create this 

690
00:39:05,800 --> 00:39:09,400
mysterious Allure about having 
as much of it as you can, even 

691
00:39:09,400 --> 00:39:12,400
if it's absolute garbage, and 
it's actually robbing us of our 

692
00:39:12,400 --> 00:39:14,700
wealth. 
So, while robbing us of our 

693
00:39:14,700 --> 00:39:16,200
time, which really is our 
wealth. 

694
00:39:16,200 --> 00:39:18,800
But anyways, going back to this 
whole thing. 

695
00:39:19,900 --> 00:39:25,300
Look, the government, they can't
confiscate Bitcoin as we know, 

696
00:39:25,500 --> 00:39:28,500
they can't print it. 
So the only way to take it from 

697
00:39:28,500 --> 00:39:33,200
us is, is that through, you 
know, five dollar wrench attack 

698
00:39:33,300 --> 00:39:36,000
Some type of violence or which 
the government is not gonna be 

699
00:39:36,000 --> 00:39:37,300
able to do on an individual 
basis. 

700
00:39:37,300 --> 00:39:41,600
The other way is what, like we 
said, they have to provide some 

701
00:39:41,600 --> 00:39:43,400
type of value. 
The only way that we're willing 

702
00:39:43,400 --> 00:39:47,500
to separate ourselves from our 
Bitcoin is, if we believe that 

703
00:39:47,500 --> 00:39:50,700
we are getting value in that 
trade. 

704
00:39:50,700 --> 00:39:55,200
So if we don't get that, then we
don't separate ourselves from 

705
00:39:55,200 --> 00:39:56,700
our Bitcoin. 
And and somebody may also argue 

706
00:39:56,700 --> 00:39:59,600
and say well you know we could 
get scammed right? 

707
00:39:59,600 --> 00:40:03,800
We could end up giving our 
Bitcoin for a service or A duct 

708
00:40:03,900 --> 00:40:08,400
from an entity that is acting as
a government and and we may get 

709
00:40:08,400 --> 00:40:10,600
fooled. 
Certainly but guess what? 

710
00:40:10,600 --> 00:40:13,300
Unlike the money printer, where 
they can just continue to print 

711
00:40:13,300 --> 00:40:16,400
wealth, they would only have 
that happen once and then 

712
00:40:16,400 --> 00:40:18,100
they're not going to be able to 
do it again. 

713
00:40:18,300 --> 00:40:23,400
Not so I think that look the key
to bitcoin is that it minimizes 

714
00:40:23,400 --> 00:40:27,800
this Behavior. 
I think that the more people I 

715
00:40:27,800 --> 00:40:31,300
think that this way of thinking,
with the money printer is very, 

716
00:40:31,600 --> 00:40:35,100
it's old and I I think that 
what's going to happen is that 

717
00:40:35,100 --> 00:40:39,200
the more people grow up and 
realize the virtue of Bitcoin? 

718
00:40:39,700 --> 00:40:43,900
I think that, you know what, 
David's L right now has a, you 

719
00:40:43,900 --> 00:40:48,600
know, a big task ahead of him. 
But I think that over time it 

720
00:40:48,600 --> 00:40:50,900
gets easier, right? 
It's their Ice Cube that's 

721
00:40:50,900 --> 00:40:53,100
melting not ours. 
Absolutely. 

722
00:40:53,100 --> 00:40:55,500
I think Spence key has an 
amazing line, right? 

723
00:40:55,500 --> 00:40:58,900
Which is time is on our side? 
Yes. 

724
00:40:58,900 --> 00:41:01,100
Not on. 
There's Daniel. 

725
00:41:01,400 --> 00:41:03,100
What are your thoughts on? 
This is a surprise. 

726
00:41:03,300 --> 00:41:07,700
You. 
No don't, but I will say, I 

727
00:41:07,700 --> 00:41:11,400
think, overall, you're right. 
It, it will change any mind 

728
00:41:11,800 --> 00:41:14,900
change, the majority their 
minds, but it does plant a 

729
00:41:14,900 --> 00:41:17,500
little seed. 
So that maybe there's one or two

730
00:41:17,500 --> 00:41:22,200
individuals in that position 
that at least gets them thinking

731
00:41:23,100 --> 00:41:26,400
and maybe nothing Dramatical 
happened for a long time, but 

732
00:41:26,400 --> 00:41:29,300
it's might be the beginning of 
the process. 

733
00:41:30,300 --> 00:41:35,700
It's just just like everything 
that bitcoiners believe in being

734
00:41:35,700 --> 00:41:38,500
10 years ago. 
There was a much smaller group 

735
00:41:38,500 --> 00:41:41,000
of people that believe those 
types of thoughts. 

736
00:41:41,600 --> 00:41:44,200
And it's grown a lot just in the
last 10 years. 

737
00:41:44,200 --> 00:41:49,000
So it's a slow process. 
It just like you said, time is 

738
00:41:49,000 --> 00:41:50,800
on our side. 
Absolutely. 

739
00:41:50,800 --> 00:41:52,800
I agree with that. 
That's a really good point. 

740
00:41:53,400 --> 00:41:56,700
Yeah, it's a slow crawl. 
I think it's because we get 

741
00:41:56,700 --> 00:41:59,200
caught up because we covered 
every day, right? 

742
00:42:00,000 --> 00:42:02,500
You, you kind of, you know, you 
kind of lose sense of that. 

743
00:42:02,500 --> 00:42:06,400
But anyways, real quick, another
piece of news. 

744
00:42:07,100 --> 00:42:09,500
It's signal guys, it's really 
not noise. 

745
00:42:09,500 --> 00:42:12,500
Usually I don't cover this type 
of stuff, but I started 

746
00:42:12,500 --> 00:42:18,800
connecting the dots because 
right now is one of the biggest 

747
00:42:18,800 --> 00:42:22,400
greatest opportunities to start 
mining Bitcoin based on what I 

748
00:42:22,408 --> 00:42:26,000
experienced in 2018. 
So I started making calls. 

749
00:42:26,500 --> 00:42:29,700
I stopped, I talked to the 
awesome Folks at Luxor pool. 

750
00:42:29,900 --> 00:42:32,200
Cool. 
We had you know we've had a 

751
00:42:32,208 --> 00:42:37,400
couple of them on the show Ethan
and Gooseman and let's talk 

752
00:42:37,400 --> 00:42:42,400
about what the current state of 
Bitcoin mining is based on a 

753
00:42:42,400 --> 00:42:46,000
little bit of my research and 
based on, you know, a little bit

754
00:42:46,000 --> 00:42:50,800
of the press releases as well. 
So this is a press release bike 

755
00:42:50,800 --> 00:42:56,300
or scientific or scientific. 
Is this huge data center Mining 

756
00:42:56,300 --> 00:42:59,400
Company? 
Absolutely massive. 

757
00:43:00,400 --> 00:43:02,900
Check out how many data centers,
they own data, centers, owned 

758
00:43:02,900 --> 00:43:05,300
and operated, by the company. 
In Georgia, Kentucky, North 

759
00:43:05,300 --> 00:43:07,700
Carolina and North Dakota, and 
North Dakota. 

760
00:43:08,100 --> 00:43:10,500
The company. 
Now has multiple facilities 

761
00:43:10,500 --> 00:43:14,000
operating in Texas. 
Significant future development 

762
00:43:14,000 --> 00:43:18,500
is planned for Texas and 
Oklahoma, that's a lot and 

763
00:43:18,500 --> 00:43:20,700
Bitcoin mining is very 
expensive, especially when you 

764
00:43:20,700 --> 00:43:24,100
start doing it on a large scale,
but here's the signal, guys, 

765
00:43:24,100 --> 00:43:25,600
this is the part. 
I want to pay attention to, I'm 

766
00:43:25,600 --> 00:43:29,100
going to connect this with my 
own research as well during the 

767
00:43:29,108 --> 00:43:35,400
month of June. 
The company, sold, 7,000, 202 

768
00:43:35,400 --> 00:43:38,700
Bitcoins, an average price of 
twenty, three thousand per 

769
00:43:38,700 --> 00:43:41,500
Bitcoin. 
The total proceeds are 

770
00:43:41,500 --> 00:43:47,900
approximately 167 million 
dollars as of June 30th 2022. 

771
00:43:48,100 --> 00:43:55,800
The company held 1959 Bitcoins 
and approximately 132 million in

772
00:43:55,800 --> 00:43:59,200
cash on its balance sheet. 
Proceeds from Bitcoin sales and 

773
00:43:59,200 --> 00:44:02,500
June were primarily Use for 
payments for Asic servers 

774
00:44:02,500 --> 00:44:06,100
Capital investments in 
additional Center capacity and 

775
00:44:06,100 --> 00:44:07,800
here. 
Check this out guys this is the 

776
00:44:07,800 --> 00:44:11,700
signal scheduled repayment of 
debt. 

777
00:44:12,300 --> 00:44:16,600
The company will continue to 
sell self mined Bitcoins to Pate

778
00:44:16,600 --> 00:44:19,800
operating expenses. 
Fund growth retired debt and 

779
00:44:19,800 --> 00:44:22,100
maintain liquidity. 
Now, I know what a lot of you 

780
00:44:22,108 --> 00:44:25,300
guys are thinking, is it normal 
for them to sell all that 

781
00:44:25,300 --> 00:44:26,600
Bitcoin? 
No, it is. 

782
00:44:26,600 --> 00:44:29,700
Absolutely. 
This is, this came kind of a 

783
00:44:29,700 --> 00:44:33,300
little bit of As a shock now 
they're still. 

784
00:44:33,300 --> 00:44:36,800
Okay, they're still in the 
green, the the the latest gen 

785
00:44:36,800 --> 00:44:39,200
Bitcoin miners. 
Let me pull it up so you guys 

786
00:44:39,200 --> 00:44:42,200
could have a visualization. 
Is that s19? 

787
00:44:42,200 --> 00:44:46,300
Well it means the XP but 
whatever works for this it's 

788
00:44:46,300 --> 00:44:49,100
still if you're getting a 
competitive electricity cost I 

789
00:44:49,100 --> 00:44:52,400
put here, just for example, 
steak five cents per kilowatt 

790
00:44:52,400 --> 00:44:55,100
hour. 
It's still making about nine 

791
00:44:55,100 --> 00:44:59,800
bucks a day, but it's not and I 
think this is a really good 

792
00:44:59,800 --> 00:45:01,900
chart. 
It's not as profitable as an 

793
00:45:01,900 --> 00:45:03,300
April. 
Where's making twenty six 

794
00:45:03,300 --> 00:45:07,300
dollars a day so they're still 
in the green these companies. 

795
00:45:07,300 --> 00:45:09,200
However, right. 
They're still operating with a 

796
00:45:09,208 --> 00:45:14,400
thirty to forty percent margin. 
However, they've seen what we've

797
00:45:14,400 --> 00:45:16,200
noticed right? 
Is that a lot of these 

798
00:45:16,200 --> 00:45:17,900
companies? 
A lot of these big mining 

799
00:45:17,900 --> 00:45:24,600
operations have started to sell 
a six in mass to to beef up 

800
00:45:24,600 --> 00:45:28,700
their balance is so to speak. 
So it's not a problem right now 

801
00:45:29,100 --> 00:45:34,200
but Example, if the macro 
environment gets worse which I 

802
00:45:34,200 --> 00:45:36,600
suspect there's a big 
possibility of that. 

803
00:45:38,200 --> 00:45:43,100
I think a lot of these companies
might be in problems so not only

804
00:45:43,100 --> 00:45:46,600
do I think that right now we're 
currently witnessing is a fire 

805
00:45:46,600 --> 00:45:51,200
sale of a 6 there. 70% off, from
all-time Highs. 

806
00:45:51,200 --> 00:45:56,800
But what I suspect we might see 
right in the next six months. 

807
00:45:56,800 --> 00:46:02,500
Specifically, If the Fed remains
hawkish Is that not only are we 

808
00:46:02,500 --> 00:46:05,100
going to see a fire sale in a 
six? 

809
00:46:05,200 --> 00:46:09,600
But we might see a fire cell and
distressed mining operations as 

810
00:46:09,600 --> 00:46:14,700
well as remember a lot of these 
operations they took on debt to 

811
00:46:14,700 --> 00:46:18,100
fund themselves, right? 
So not only do they have to pay 

812
00:46:18,100 --> 00:46:21,700
for the operating cost right? 
Like electricity expenses 

813
00:46:21,700 --> 00:46:25,200
maintenance, all that good stuff
but also they have to pay 

814
00:46:25,200 --> 00:46:27,800
interest on their debts as well,
right? 

815
00:46:27,800 --> 00:46:31,900
So very interesting. 
Feel very interesting, but to be

816
00:46:31,900 --> 00:46:35,600
to be frank though. 
I thought it was a lot worse 

817
00:46:36,000 --> 00:46:40,600
than I originally imagined, and 
then I talked to the awesome 

818
00:46:40,600 --> 00:46:44,800
people at luxure and they told 
me it was a different situation,

819
00:46:44,800 --> 00:46:47,600
it wasn't there, so profitable, 
a lot of these operations, 

820
00:46:47,600 --> 00:46:49,600
right? 
And then I connected the dots 

821
00:46:49,600 --> 00:46:53,600
with, you know, the the, you 
know, the mining. 

822
00:46:53,900 --> 00:46:57,900
The mining data based on that 
website, and then you started to

823
00:46:57,900 --> 00:47:00,100
see the picture yourself, but 
yeah. 

824
00:47:00,300 --> 00:47:04,000
And that has a lot of Bitcoin 
that they had to sell my brother

825
00:47:04,100 --> 00:47:08,600
as a lot of Bitcoin. 
You know question, oh yeah, go 

826
00:47:08,600 --> 00:47:13,600
ahead. 
We know the Bitcoin reward is on

827
00:47:13,600 --> 00:47:19,800
a four-year cycle. 
And you know that price crashes 

828
00:47:19,800 --> 00:47:23,800
about two years in after the 
previous having, I would think 

829
00:47:23,800 --> 00:47:27,500
that be part of their business 
model and planning. 

830
00:47:27,600 --> 00:47:30,900
So it's funny. 
You say that because so I 

831
00:47:30,900 --> 00:47:34,900
actually prepared this time and 
I was actually telling Phil back

832
00:47:34,900 --> 00:47:36,900
in November and December, you 
guys can go back to those 

833
00:47:36,900 --> 00:47:41,300
episodes and say, hey man, this 
insanity is a reminding me a 

834
00:47:41,300 --> 00:47:44,300
whole lot of 2018. 
Why do I say that? 

835
00:47:44,300 --> 00:47:47,500
Because you had all these 
pictures On Twitter of these 

836
00:47:47,500 --> 00:47:50,800
people, home by any, right? 
This is exactly what have people

837
00:47:50,800 --> 00:47:53,400
forget this exactly what 
happened in 2018. 

838
00:47:53,700 --> 00:47:56,800
So I think I told you feels like
Phil. 

839
00:47:57,300 --> 00:48:00,300
There's gonna be a crash. 
I didn't know it was about the 

840
00:48:00,300 --> 00:48:04,200
price though, unfortunately, but
I had a suspicion time, an idiot

841
00:48:04,200 --> 00:48:07,300
right? 
I had a suspicion that a lot of 

842
00:48:07,300 --> 00:48:10,300
these, a six in the prices that 
they were going for, we're 

843
00:48:10,300 --> 00:48:13,500
completely overvalued. 
We had a six selling for the s19

844
00:48:13,500 --> 00:48:15,600
was selling for like a eleven 
thousand dollars. 

845
00:48:15,700 --> 00:48:19,300
There is absolutely no doubt 
right now, it's worth 3,500 at 

846
00:48:19,300 --> 00:48:23,300
3900, right? 
So dude, that's like a 60% 

847
00:48:23,300 --> 00:48:25,700
haircut, right? 
Still sounds expensive. 

848
00:48:25,700 --> 00:48:32,200
But yeah, 67% haircut. 
So yeah, but it's I don't know 

849
00:48:32,200 --> 00:48:34,700
why they didn't notice but I 
could have Daniel, you know, 

850
00:48:34,700 --> 00:48:37,000
what why did it to Celsius, 
guys? 

851
00:48:37,000 --> 00:48:39,500
Noticed, why didn't block by 
notice, right? 

852
00:48:39,500 --> 00:48:43,300
And those company, he had pump 
showing off saying block phi's 

853
00:48:43,300 --> 00:48:45,600
making $50 50 million dollars a 
month. 

854
00:48:45,800 --> 00:48:48,700
Just got acquired right? 
Like for significantly less 

855
00:48:48,700 --> 00:48:51,300
their valuation got cut in half,
right? 

856
00:48:51,300 --> 00:48:53,500
I think only a 5 billion 
valuation. 

857
00:48:53,600 --> 00:48:57,100
Went down to 250 million. 
There was a rumor that it was 

858
00:48:57,100 --> 00:49:00,900
for 25 million at what point. 
Like dude, I think that it 

859
00:49:00,900 --> 00:49:04,600
caught a lot of people by 
surprise like it always does 

860
00:49:05,800 --> 00:49:08,500
which is surprising, which is 
really surprising Phil. 

861
00:49:09,300 --> 00:49:11,400
Yeah, no. 
It's really, I mean, look, it's 

862
00:49:11,400 --> 00:49:13,600
too bad. 
It definitely is. 

863
00:49:13,600 --> 00:49:15,900
But at the same time, these 
types of situations, Ian's 

864
00:49:15,900 --> 00:49:21,400
create opportunities. 
Look at the end of the day when 

865
00:49:21,400 --> 00:49:23,000
it comes to when it comes to the
mining. 

866
00:49:23,000 --> 00:49:25,000
I really, I really don't know 
that much. 

867
00:49:25,000 --> 00:49:28,100
So this is actually the first 
cycle I've gone through having 

868
00:49:28,100 --> 00:49:30,700
much more knowledge about mining
thanks to you Niko. 

869
00:49:30,700 --> 00:49:35,300
So I didn't, I never even really
thought of this aspect and to 

870
00:49:35,300 --> 00:49:38,900
see that, you know, to see that 
that much Bitcoin was sold at 

871
00:49:38,900 --> 00:49:42,900
23k. 
I know that, I know that the 

872
00:49:42,900 --> 00:49:45,000
people that you spoke with may 
have said, like yeah, you know, 

873
00:49:45,000 --> 00:49:46,800
these operations. 
Still profitable. 

874
00:49:47,100 --> 00:49:50,300
But the thing is this, right? 
The macro picture and this is 

875
00:49:50,500 --> 00:49:53,200
you know we call them Black Swan
events and stuff like that to be

876
00:49:53,200 --> 00:49:57,700
yes the mice, the machines are 
still profitable so what their 

877
00:49:57,700 --> 00:49:59,700
remaining, they're still very 
profit. 

878
00:49:59,800 --> 00:50:03,000
Oh okay, okay, so I'll check the
operation right and then the 

879
00:50:03,008 --> 00:50:06,700
debtor the the creditors or 
whatever the people that they 

880
00:50:06,700 --> 00:50:10,300
owe the debt to they're looking 
all those miners are still 

881
00:50:10,300 --> 00:50:12,300
profitable, right? 
Which means that you could still

882
00:50:12,300 --> 00:50:15,300
pay me, right? 
So that's what I'm gonna gotcha,

883
00:50:15,300 --> 00:50:16,700
right? 
Okay, gotcha. 

884
00:50:16,700 --> 00:50:19,800
And then again like I didn't 
just get the single data point 

885
00:50:19,800 --> 00:50:21,900
from the Luxor, guys. 
I also kind of connected the 

886
00:50:21,900 --> 00:50:25,700
dots based on my own research 
and it, it was basically telling

887
00:50:25,700 --> 00:50:27,800
me the same message as well. 
Okay. 

888
00:50:27,800 --> 00:50:30,000
So anyways, that's a whole lot 
of Bitcoin. 

889
00:50:30,000 --> 00:50:34,700
Like you said, crap, David's L 
just message me. 

890
00:50:34,700 --> 00:50:38,400
I asked him what his thoughts 
were on the, on the previous 

891
00:50:38,400 --> 00:50:44,000
thing and here's his quote. 
Shout out David, he says the US 

892
00:50:44,000 --> 00:50:48,200
government needs to And that, 
while the majority of cryptos 

893
00:50:48,200 --> 00:50:50,800
are pump-and-dump, ponzi's and 
pipe dreams. 

894
00:50:51,000 --> 00:50:55,400
Profound Innovation, is taking 
place namely with Bitcoin and 

895
00:50:55,400 --> 00:50:57,900
it's lightning Network. 
And this relates to the first 

896
00:50:57,900 --> 00:50:58,900
piece of news. 
Thank you. 

897
00:50:58,900 --> 00:51:01,200
David for getting back to me, 
that's his quote. 

898
00:51:01,200 --> 00:51:05,000
But, anyways, Phil, it's time 
for the daily meme review 

899
00:51:05,000 --> 00:51:07,800
brought to you, by Citadel 21. 
It's the best Bitcoin cultural 

900
00:51:07,800 --> 00:51:10,800
Xena stories articles Comics by 
actual bitcoiners. 

901
00:51:10,800 --> 00:51:12,700
Every volume has different 
artwork. 

902
00:51:12,700 --> 00:51:15,000
Does the artwork for volume 
tennis the one that show up 

903
00:51:15,000 --> 00:51:16,400
first because his Lincoln is 
gorgeous. 

904
00:51:16,500 --> 00:51:18,800
This is artwork for volume. 11 
volumes. 

905
00:51:18,800 --> 00:51:21,600
Sweat of just dropped is being 
shipped to my house will be able

906
00:51:21,600 --> 00:51:23,900
to show that off and then start 
work for volume 2. 

907
00:51:23,900 --> 00:51:27,200
Volume 2 is almost sold out. 
Why is it almost sold out 

908
00:51:27,200 --> 00:51:29,800
because there's only a thousand 
physical copies made per volume.

909
00:51:29,800 --> 00:51:33,700
So get your prints of sedale 21 
today before they run out. 

910
00:51:33,900 --> 00:51:37,300
All right, everybody, Welcome to
the Daily Bitcoin meme review. 

911
00:51:37,300 --> 00:51:40,300
We're review Bitcoin, memes, 
memes, play an essential role. 

912
00:51:40,300 --> 00:51:44,500
Not only in Bitcoin culture, but
in this narrative trench warfare

913
00:51:44,500 --> 00:51:47,200
that were fighting every day. 
A hand two hands on the 

914
00:51:47,200 --> 00:51:50,100
Battlegrounds of the internet 
against governments and central 

915
00:51:50,100 --> 00:51:54,000
banks. 
Anyways, first meme by j4 y 3 

916
00:51:54,200 --> 00:51:55,600
held. 
The government will defeat 

917
00:51:55,600 --> 00:51:58,300
bitcoiners fill this makes 
absolutely no sense. 

918
00:51:59,500 --> 00:52:02,500
What is what is that mean? 
Free sense. 

919
00:52:02,700 --> 00:52:05,100
I don't understand. 
So if you hop in the van, right,

920
00:52:05,100 --> 00:52:08,900
they kidnap you. 
Yeah, that's how they get you 

921
00:52:08,900 --> 00:52:10,600
with three sad. 
I get it. 

922
00:52:10,600 --> 00:52:12,100
I get it. 
All right, next one. 

923
00:52:12,100 --> 00:52:15,500
Bye Ross. 
Mus at this is like a quote. 

924
00:52:15,600 --> 00:52:18,300
Oh this is quoting someone, I 
guess someone important he's 

925
00:52:18,300 --> 00:52:21,200
wearing like the old, you know 
back in the day clothing. 

926
00:52:21,200 --> 00:52:24,400
So anyone wants to live at the 
expense of the state. 

927
00:52:25,000 --> 00:52:28,000
They forget know everyone wants 
to live at the expense of the 

928
00:52:28,000 --> 00:52:30,300
state. 
They forget that the state lives

929
00:52:30,300 --> 00:52:33,300
at the expense of everyone else.
Federic bastia! 

930
00:52:33,300 --> 00:52:36,100
Oh that's what you were 
referring to referencing. 

931
00:52:36,100 --> 00:52:38,100
Yes, yes! 
There you go. 

932
00:52:38,300 --> 00:52:41,900
Okay, bastia, okay, I need a I 
need a read some of the stuff. 

933
00:52:41,900 --> 00:52:44,000
Anyways, next one, bye. 
Greg zag. 

934
00:52:44,000 --> 00:52:47,300
This is his secondary account. 
He wanted to know, let everyone 

935
00:52:47,300 --> 00:52:49,900
know Dan. 
These morons might actually have

936
00:52:49,900 --> 00:52:52,800
a point. 
Hey John, why do we pay taxes if

937
00:52:52,800 --> 00:52:54,500
they can't? 
If it could just print as much 

938
00:52:54,500 --> 00:52:57,800
money as they want? 
Anyway, and it's an FBI agent, 

939
00:52:57,800 --> 00:53:01,800
an FBI agent. 
Would absolutely not think that 

940
00:53:01,800 --> 00:53:03,700
whatsoever. 
They've bought into that. 

941
00:53:03,700 --> 00:53:06,000
They drinking that Kool-Aid so 
hard. 

942
00:53:06,000 --> 00:53:12,000
Anyways moving on to the real 
sha-256 Bitcoin tweets or meme 

943
00:53:12,500 --> 00:53:16,700
who did this, and it's feeder 
shift as A dinosaur, to be 

944
00:53:16,700 --> 00:53:20,200
honest, the latest news about 
Peter shift and his bank, in 

945
00:53:20,200 --> 00:53:23,200
Puerto Rico, man. 
I feel bad for the guy. 

946
00:53:23,200 --> 00:53:26,500
I hope he has a happy ending 
there when the government is 

947
00:53:26,500 --> 00:53:29,600
going after anybody. 
It's I'm just not a fan of that,

948
00:53:29,900 --> 00:53:34,300
right? 
Anyways, next one by Rasmus, 125

949
00:53:34,300 --> 00:53:38,400
years ago, you didn't have to 
ask permission from side note, 

950
00:53:39,900 --> 00:53:44,700
Dude, if that is not a good 
advertisement for Bitcoin, Peter

951
00:53:44,700 --> 00:53:48,500
Schiff, I don't know what to 
tell you, but I do hope things 

952
00:53:48,500 --> 00:53:50,900
work out for you with your 
legacy system. 

953
00:53:51,100 --> 00:53:54,600
Fiat thing, okay, it's in 
Bitcoin. 

954
00:53:54,800 --> 00:53:59,400
That can't happen just saying, 
all right, moving on, 125 years 

955
00:53:59,400 --> 00:54:02,000
ago, you didn't have to ask 
permission from the government. 

956
00:54:02,000 --> 00:54:04,400
Collect rainwater, go fishing, 
own property. 

957
00:54:04,400 --> 00:54:05,900
Start a business, renovate. 
Your home. 

958
00:54:05,900 --> 00:54:08,100
Build a home. 
Use the transportation vehicle. 

959
00:54:08,100 --> 00:54:11,300
Get married hunt own a weapon. 
Here, sell a product, protests 

960
00:54:11,300 --> 00:54:15,200
grow food on your property, set 
up a lemonade stand, sell food. 

961
00:54:15,400 --> 00:54:18,100
You can do virtually nothing 
without being extorted by the 

962
00:54:18,100 --> 00:54:19,500
government. 
Obtaining their permission 

963
00:54:19,500 --> 00:54:21,300
first. 
If you still think you're free, 

964
00:54:21,300 --> 00:54:24,300
you're deluding yourself. 
You live in a tax form as free 

965
00:54:24,300 --> 00:54:28,900
range humans, okay, we've been 
talking a lot about tax stuff. 

966
00:54:28,900 --> 00:54:30,500
Alright, pay your taxes 
everybody. 

967
00:54:30,500 --> 00:54:35,300
Okay, color within the lines. 
So but yeah, look, let's 

968
00:54:35,300 --> 00:54:38,000
actually have a discussion about
all these things though. 

969
00:54:39,600 --> 00:54:43,100
It's absolutely true. 
And the you're right and it's of

970
00:54:43,100 --> 00:54:45,600
self-fulfilling bureaucracy. 
It's not like the government 

971
00:54:45,600 --> 00:54:49,400
actually cares about licensing, 
all these things, right? 

972
00:54:49,500 --> 00:54:53,100
Maybe you can make the argument 
that, you know, using a car with

973
00:54:53,100 --> 00:54:57,800
a good idea, license, right? 
But collecting rainwater, like 

974
00:54:57,800 --> 00:55:01,400
they license that they regulate 
that because regulation creates 

975
00:55:01,400 --> 00:55:04,500
more bureaucratic jobs, right? 
So it kind of becomes a 

976
00:55:04,500 --> 00:55:07,400
self-fulfilling prophecy. 
Now, there's this other aspect 

977
00:55:07,400 --> 00:55:12,100
where if they license These 
things that's an Outsourcing of 

978
00:55:12,100 --> 00:55:14,900
responsibility to the 
bureaucracy. 

979
00:55:14,900 --> 00:55:17,800
Once you Outsource 
responsibility, become weaker as

980
00:55:17,800 --> 00:55:21,500
a human being, right? 
So it begs the question, right? 

981
00:55:21,800 --> 00:55:24,500
If the government gets bigger, 
and bigger, wouldn't that create

982
00:55:24,500 --> 00:55:26,400
weaker human beings? 
Because they don't even have to 

983
00:55:26,400 --> 00:55:29,000
think for themselves. 
They just really just rely on 

984
00:55:29,000 --> 00:55:31,500
the bureaucracy to take care of 
all their problems, right? 

985
00:55:31,600 --> 00:55:33,100
So it's twofold. 
Right. 

986
00:55:33,200 --> 00:55:37,100
Should be really allow a country
a government to regulate 

987
00:55:37,100 --> 00:55:41,900
collecting Rainwater. 
And the other aspect of it is, 

988
00:55:42,400 --> 00:55:44,900
if there's just this giant 
bureaucracy, controlling 

989
00:55:44,900 --> 00:55:47,300
everything you do, you don't 
really have to think you just 

990
00:55:47,300 --> 00:55:51,000
become a cog in a wheel. 
Anyways, just some thoughts but 

991
00:55:51,000 --> 00:55:52,700
color within the lines guys. 
All right. 

992
00:55:52,800 --> 00:55:58,100
Next one by she Ona, it's a 
criminal and he's pointing 

993
00:55:58,100 --> 00:56:00,500
someone at gunpoint. 
Give me your cash. 

994
00:56:00,700 --> 00:56:05,800
I just reported you using my new
Solana mobile phone, but and 

995
00:56:05,800 --> 00:56:08,900
then the criminal feels that he 
said he had some big boys. 

996
00:56:09,100 --> 00:56:12,200
You need this more than me, 
hahaha. 

997
00:56:13,100 --> 00:56:15,900
Oh man, awesome, awesome, 
awesome scores. 

998
00:56:15,900 --> 00:56:21,100
And for that, I'm going to give 
it the new cold card and K4. 

999
00:56:22,500 --> 00:56:26,200
It's pretty. 
And it feels for it feels as 

1000
00:56:26,200 --> 00:56:28,100
pretty as it looks. 
All right. 

1001
00:56:28,100 --> 00:56:32,600
It feels as pretty as it looks. 
And of course, I score my seed 

1002
00:56:32,800 --> 00:56:38,500
and metal on a Cipher wheel. 
Anyways, Phil course, very nice,

1003
00:56:38,500 --> 00:56:39,200
very nice. 
Nice. 

1004
00:56:39,200 --> 00:56:43,000
Okay. 
I am giving those awesome memes 

1005
00:56:43,400 --> 00:56:48,900
this. 
Awesome 1.21 gigawatts. 

1006
00:56:50,200 --> 00:56:53,200
It's a velcro patch. 
It Sadako brush very nice. 

1007
00:56:53,200 --> 00:56:54,300
Right? 
That's very nice. 

1008
00:56:54,400 --> 00:56:56,700
But it's in mint and you'll 
never use it. 

1009
00:56:56,700 --> 00:56:59,000
No, no, it's in the, I use this 
one that's not meant. 

1010
00:56:59,100 --> 00:57:01,000
Oh, it's not, yeah, this is what
I've used. 

1011
00:57:01,000 --> 00:57:02,300
Yeah, had it for 20 years, 
though. 

1012
00:57:03,400 --> 00:57:05,900
Interesting, okay. 
Daniel, what will you do? 

1013
00:57:07,000 --> 00:57:10,400
I give it a metal train pencil 
sharp. 

1014
00:57:11,600 --> 00:57:13,900
Wow. 
Nice. 

1015
00:57:14,000 --> 00:57:16,700
Wow, that's very, very deep into
the train. 

1016
00:57:16,700 --> 00:57:19,400
Car stores, the shavings. 
That's right. 

1017
00:57:20,000 --> 00:57:22,800
That is we just we just aged 
ourselves, Right? 

1018
00:57:24,900 --> 00:57:27,200
Alright guys, we want to know if
you agree or disagree. 

1019
00:57:27,200 --> 00:57:29,800
Let us know down in the comment 
section. 

1020
00:57:29,800 --> 00:57:33,100
Make sure to subscribe to us on 
alternative video platforms, 

1021
00:57:33,100 --> 00:57:35,300
like Rumble.com. 
Personal favorite Bitcoin 

1022
00:57:35,300 --> 00:57:37,600
tv.com. 
Join our telegram group. 

1023
00:57:37,600 --> 00:57:40,500
It's a party, and they're joined
right now, or telegram group. 

1024
00:57:40,500 --> 00:57:43,500
The link is down below. 
You could link us some memes and

1025
00:57:43,500 --> 00:57:45,000
we could review them on the mean
review. 

1026
00:57:45,200 --> 00:57:46,900
There's a lot of plebs in there 
talking crap. 

1027
00:57:46,900 --> 00:57:50,000
It's a good time. 
Join our telegram group and Of 

1028
00:57:50,008 --> 00:57:53,900
course if you're listening to 
the Twitter spaces audio version

1029
00:57:53,900 --> 00:57:57,700
of this episode, make sure to 
stay until after the show. 

1030
00:57:58,000 --> 00:57:59,900
So because we're going to do a 
live hangout. 

1031
00:57:59,900 --> 00:58:03,800
Q&A is fatzke Mark Moss? 
Came to the one today it was it 

1032
00:58:03,808 --> 00:58:07,200
was really cool but anyways pill
it's time for it. 

1033
00:58:07,200 --> 00:58:08,700
No it's not time for anything. 
There was an open source 

1034
00:58:08,700 --> 00:58:11,900
software released today wanting 
to everybody about it software 

1035
00:58:11,900 --> 00:58:15,300
releases, brought to you by 
Cipher safe. 

1036
00:58:15,300 --> 00:58:18,400
Check them out. 
Cipher safe dot IO, I can 

1037
00:58:18,400 --> 00:58:21,000
confidently. 
Say nobody Storing their seed 

1038
00:58:21,000 --> 00:58:25,000
here in paper, everybody is 
storing their seed in steel, 

1039
00:58:25,200 --> 00:58:29,300
using the Cipher wheel, or the 
all new Cipher grid, they both 

1040
00:58:29,300 --> 00:58:31,000
come with a tamper-resistant 
wire. 

1041
00:58:31,600 --> 00:58:33,800
Oh and the grid comes with a 
punch tool. 

1042
00:58:34,900 --> 00:58:38,700
And you know what actually 
Daniel since we have Daniel here

1043
00:58:38,900 --> 00:58:41,300
Daniel here there's some new 
stuff coming out from Cipher 

1044
00:58:41,300 --> 00:58:42,400
safe. 
What do you got for us? 

1045
00:58:42,800 --> 00:58:46,600
Yeah, we're moving into physical
Bitcoin art specifically metal 

1046
00:58:47,300 --> 00:58:49,400
and working on our first product
right now. 

1047
00:58:49,400 --> 00:58:53,000
It's I'm going to be a reuleaux 
triangle with a Bitcoin logo and

1048
00:58:53,600 --> 00:58:57,000
other artwork attached to it, so
we're pretty excited about it. 

1049
00:58:57,000 --> 00:59:00,600
All very exciting exciting to 
see this out. 

1050
00:59:00,600 --> 00:59:01,700
Okay. 
Very cool. 

1051
00:59:02,000 --> 00:59:07,600
All right, we've got Samurai 
wallet version, 0.99, dot 980. 

1052
00:59:07,600 --> 00:59:11,700
That was released its Down Below
in the show notes, guys, don't 

1053
00:59:11,700 --> 00:59:15,300
forget to check us out on our 
Audio Only platforms. 

1054
00:59:15,600 --> 00:59:19,700
We are on Apple, podcasts, 
Spotify and anchor. 

1055
00:59:20,000 --> 00:59:22,300
Don't forget to check us out on 
Fountain dot f m--. 

1056
00:59:22,300 --> 00:59:24,100
You could stream assets through 
Breeze. 

1057
00:59:24,900 --> 00:59:25,900
Awesome. 
Thank you Phil. 

1058
00:59:25,900 --> 00:59:29,300
All right guys, that was our 
show before we go. 

1059
00:59:29,800 --> 00:59:33,300
I want to give a very special 
shout-out to the Legendary 

1060
00:59:33,300 --> 00:59:34,200
Pirate. 
Beach Bum. 

1061
00:59:34,400 --> 00:59:37,100
Check out Simply Bitcoin, 
unfiltered 

1062
00:59:37,200 --> 00:59:42,000
www.simpleandsensational.com 
cure pleb signal. 

1063
00:59:42,000 --> 00:59:44,700
If it's your first time in a 
bear Market, definitely want to 

1064
00:59:44,708 --> 00:59:46,800
check it out. 
Simply Bitcoin will help you 

1065
00:59:46,808 --> 00:59:49,100
through the process. 
Also want to give a very special

1066
00:59:49,100 --> 00:59:52,000
shout-out to our clothing. 
And sponsor represent LTD.com 

1067
00:59:52,000 --> 00:59:54,600
Phil and I wear the hoodies 
every single day. 

1068
00:59:54,600 --> 00:59:57,500
Not only are they stylish? 
They're also very comfortable. 

1069
00:59:57,600 --> 01:00:01,400
He's coming out with more 
Bitcoin merge and simply Bitcoin

1070
01:00:01,400 --> 01:00:04,100
merch dropping soon. 
Definitely not going to want to 

1071
01:00:04,100 --> 01:00:07,000
miss it. 
Also want to give a very special

1072
01:00:07,000 --> 01:00:10,900
shout out to a friend of the 
show and Legend you can go get 

1073
01:00:10,900 --> 01:00:14,800
my follow at Cipher safe 
shoutout to Daniel. 

1074
01:00:14,800 --> 01:00:19,000
Shout out to make Archie who is 
the genius behind the Cipher 

1075
01:00:19,000 --> 01:00:19,800
wheel? 
Definitely want to check. 

1076
01:00:20,000 --> 01:00:22,700
Out Cipher safe dot IO, guys. 
That was our show. 

1077
01:00:22,700 --> 01:00:24,000
You enjoyed the show you what's 
this man? 

1078
01:00:25,000 --> 01:00:26,300
First, you want to continue here
in the Bitcoin. 

1079
01:00:26,300 --> 01:00:28,900
Use from the Polly Platt 
perspective in the catastrophic 

1080
01:00:28,900 --> 01:00:31,000
fails and the memes. 
Definitely