1 00:00:07,280 --> 00:00:10,000 It's all going to zero against Bitcoin. 2 00:00:10,960 --> 00:00:20,760 It's going up. You're against Bitcoin. 3 00:00:20,840 --> 00:00:28,840 You're against freedom. Yo, welcome to another episode 4 00:00:28,880 --> 00:00:32,400 of Simply Bitcoin Live. We are your number one source 5 00:00:32,640 --> 00:00:34,800 for the peaceful Bitcoin revolution. 6 00:00:34,800 --> 00:00:37,120 Recovery, Breaking news culture, Matic warfare. 7 00:00:37,400 --> 00:00:41,320 We will be your guide through the separation of money and 8 00:00:41,320 --> 00:00:43,760 state. Sailor tweeted something very 9 00:00:43,760 --> 00:00:47,240 interesting yesterday. Anything it when it when you 10 00:00:47,240 --> 00:00:49,760 tweet a picture. I really call it a meme, right? 11 00:00:49,760 --> 00:00:53,090 Because memes. Are a form of, you know, 12 00:00:53,090 --> 00:00:55,930 graphics memes. They're they're really what 13 00:00:56,130 --> 00:00:58,610 they're forms of transmitting information. 14 00:00:58,610 --> 00:01:01,210 Transmitting data, Right. So I'm just going to call it a 15 00:01:01,210 --> 00:01:04,769 meme, even though, you know, by the usual definition, it's not a 16 00:01:04,769 --> 00:01:06,930 meme, It's a bunch of statistics, a bunch of data. 17 00:01:06,930 --> 00:01:11,330 But for the sake just to simplify, it was a meme tweeted 18 00:01:11,330 --> 00:01:17,770 a meme about the inflation rates of all Fiat currencies around 19 00:01:17,770 --> 00:01:22,780 the world. And what he said, the tweet that 20 00:01:22,780 --> 00:01:27,140 he said is if you don't have access to dollars, Bitcoin is a 21 00:01:27,140 --> 00:01:30,220 lifeline. I mean, and it's very 22 00:01:30,220 --> 00:01:34,500 interesting because if you don't have access to dollars, thing is 23 00:01:34,700 --> 00:01:41,020 like if you have a bunch of piles of crap, right? 24 00:01:43,340 --> 00:01:49,060 The dollar is the smallest, less smelling pile of crap. 25 00:01:49,500 --> 00:01:53,060 Right. It's still crap, but it is the 26 00:01:53,060 --> 00:01:55,700 least worst of all of them, right? 27 00:01:56,020 --> 00:02:02,020 And what I think is happening, especially in the global S the 28 00:02:02,020 --> 00:02:06,980 developing world, is you are seeing a lot of people adopt 29 00:02:06,980 --> 00:02:10,460 alternatives to state money. But the pattern that you're 30 00:02:10,460 --> 00:02:13,500 seeing is people aren't really adopting Bitcoin per se. 31 00:02:13,580 --> 00:02:16,420 Of course there's a percentage of Bitcoin adopters, but what 32 00:02:16,420 --> 00:02:19,980 you're really seeing? Is people adopting stable coins, 33 00:02:19,980 --> 00:02:25,020 specifically USDT or you know, the USDC or whatever, any 34 00:02:25,020 --> 00:02:29,780 specific type of stable coins that is a U.S. dollar stable 35 00:02:29,780 --> 00:02:32,260 coin. And the thing about those things 36 00:02:32,260 --> 00:02:35,580 is that they provide a false sense of financial sovereignty, 37 00:02:35,740 --> 00:02:42,540 #1 because they can freeze it, and #2 because I think 38 00:02:42,540 --> 00:02:46,260 eventually because due to its centralization they will 39 00:02:46,260 --> 00:02:51,080 inevitably be coopted. And they still have inflation 40 00:02:51,080 --> 00:02:54,080 baked in, right? So like, it's it's a multitude 41 00:02:54,080 --> 00:02:56,880 of factors. But This is why this whole thing 42 00:02:56,880 --> 00:02:59,320 is is going to be multigenerational, right, I 43 00:02:59,320 --> 00:03:02,600 truly believe. And the analogy that I always 44 00:03:02,640 --> 00:03:06,240 always use and I hide and I know it's cliche, the movie, the 45 00:03:06,240 --> 00:03:07,680 Matrix, blah blah blah blah blah. 46 00:03:07,840 --> 00:03:15,240 But this analogy is so useful. Neo was just exposed to The 47 00:03:15,240 --> 00:03:18,590 Matrix. And Morpheus and Neo are in the 48 00:03:18,590 --> 00:03:22,470 construct and Neo goes into denial and he's like, no, this 49 00:03:22,470 --> 00:03:25,110 isn't real. And he goes crazy. 50 00:03:25,110 --> 00:03:28,390 They pull him out, he gets out of the chair and he just 51 00:03:28,390 --> 00:03:32,070 collapses on the floor. And you know, and he just, he 52 00:03:32,070 --> 00:03:33,990 just passes out. He can't believe he can't. 53 00:03:34,150 --> 00:03:37,710 It's too much for him to take. And then the next the following 54 00:03:37,710 --> 00:03:43,190 scene, Morpheus is standing over Neo while Neo wakes up and 55 00:03:43,190 --> 00:03:45,070 Morpheus looks at Neo and he says Neo. 56 00:03:45,070 --> 00:03:49,180 I apologize. After a certain age, we don't 57 00:03:49,260 --> 00:03:52,540 pull people out of the Matrix because it's too much for their 58 00:03:52,540 --> 00:03:54,420 minds to for their minds to handle. 59 00:03:54,660 --> 00:03:59,540 And I think it's a very fitting analogy to the Fiat matrix if 60 00:03:59,540 --> 00:04:05,100 you've lived the majority of your life using paper money that 61 00:04:05,100 --> 00:04:10,460 has faces of old people on it. Or faces of structures, or faces 62 00:04:10,460 --> 00:04:13,180 of things. You're used to stay issued 63 00:04:13,180 --> 00:04:18,260 money, you're used to banking, you're not used to taking self 64 00:04:18,260 --> 00:04:22,980 custody of your wealth. It is a very, very radical idea. 65 00:04:23,100 --> 00:04:29,820 It's not to say that you can't do it, but it's you have to go 66 00:04:29,820 --> 00:04:34,040 through a process of unlearning. And then learning something new 67 00:04:34,280 --> 00:04:37,360 versus what Naim Bukela is doing in El Salvador, where he's 68 00:04:37,360 --> 00:04:40,840 teaching the next generation about Bitcoin right off the 69 00:04:40,840 --> 00:04:43,680 gate. So they it's not a process of 70 00:04:43,680 --> 00:04:49,720 unlearning, it's a process of learning something new now in my 71 00:04:49,720 --> 00:04:52,360 specific career. And I know Opti, I'm pretty sure 72 00:04:52,520 --> 00:04:55,080 I'm pretty confident he's experienced the same thing 73 00:04:55,080 --> 00:04:58,840 before I bring him up. You know, I've been in Bitcoin 74 00:04:58,840 --> 00:05:03,490 basically 1/3 of my life, so. I had no idea about the 75 00:05:03,490 --> 00:05:06,130 traditional financial system and so I started making Bitcoin 76 00:05:06,130 --> 00:05:08,730 content and I thought, you know, when you start making Bitcoin 77 00:05:08,730 --> 00:05:10,650 content, okay, you're just going to talk about Bitcoin? 78 00:05:11,370 --> 00:05:15,810 No, it ends up being this macro geopolitical, you know, cuz 79 00:05:16,170 --> 00:05:18,330 bitcoins fundamentally going to change the world. 80 00:05:18,330 --> 00:05:19,970 That's why we say in the beginning of the show, 81 00:05:20,090 --> 00:05:23,090 separation of money and state. And you have. 82 00:05:23,090 --> 00:05:26,250 You're forced to learn about the traditional financial system. 83 00:05:26,650 --> 00:05:29,850 And holy cow, are you just like in all you're just like. 84 00:05:30,260 --> 00:05:33,980 Do things really work like that? That's absolutely insane, right? 85 00:05:34,300 --> 00:05:40,780 So that's what I got to say is yes, absolutely. 86 00:05:40,900 --> 00:05:44,180 If you don't have the dollar, Bitcoin is definitely the 87 00:05:44,180 --> 00:05:47,540 lifeboat. But that's not to say that 88 00:05:47,540 --> 00:05:50,820 people are choosing Bitcoin. People are used, are choosing 89 00:05:50,980 --> 00:05:54,380 stable coins again, because I think that they've been 90 00:05:54,380 --> 00:05:56,180 conditioned, right. I think that they've been 91 00:05:56,420 --> 00:05:59,140 conditioned to this, to the belief. 92 00:05:59,600 --> 00:06:02,880 That the dollar is very, very strong and in the global sense, 93 00:06:02,880 --> 00:06:04,800 like before Bitcoin. You could have made that 94 00:06:04,800 --> 00:06:06,920 argument and would have been a solid argument. 95 00:06:07,600 --> 00:06:10,400 But I'll ask you guys. It's a very simple question. 96 00:06:10,760 --> 00:06:14,840 If you have a currency that is designed to inflate and lose 97 00:06:14,840 --> 00:06:19,160 purchasing power over time and can also be censored and 98 00:06:19,160 --> 00:06:23,960 confiscated easily by the state, versus a currency that is 99 00:06:23,960 --> 00:06:27,520 designed to increase in purchasing power over time is 100 00:06:27,520 --> 00:06:31,950 censorship resistant. I mean, what, what do you think 101 00:06:31,950 --> 00:06:34,230 people are going to choose eventually? 102 00:06:34,510 --> 00:06:37,830 Incentives matter. And bitcoins, incentives are the 103 00:06:37,830 --> 00:06:39,790 best. And that's truly believe. 104 00:06:39,790 --> 00:06:43,150 That's why I truly believe over the long run, enough people will 105 00:06:43,150 --> 00:06:45,390 wake up to that fact and adopt it. 106 00:06:45,630 --> 00:06:47,190 Right. Anyway, so we're going to talk 107 00:06:47,190 --> 00:06:49,990 about all that today. I know it rambled on for quite a 108 00:06:49,990 --> 00:06:54,470 bit, but I want to welcome my very special cohost, always 109 00:06:54,470 --> 00:06:56,310 optimistic. He had a dream. 110 00:06:56,310 --> 00:06:58,110 You had a dream, bro. You had a very interesting 111 00:06:58,110 --> 00:07:00,630 dream. You know, I started the Chrissy 112 00:07:00,710 --> 00:07:04,150 thing as a joke. I didn't think it was going to 113 00:07:04,150 --> 00:07:07,230 end up here. Yeah, well guys, if you didn't 114 00:07:07,230 --> 00:07:10,310 see my Twitter and I didn't even make this up, I legitimately had 115 00:07:10,310 --> 00:07:14,030 a dream last night that I was battling Christine Lagarde and 116 00:07:14,030 --> 00:07:17,790 she was a praying mantis and Claude Schwab was a locust and I 117 00:07:17,790 --> 00:07:19,070 had to. That was the third one. 118 00:07:19,310 --> 00:07:20,870 I can't remember the third person. 119 00:07:22,930 --> 00:07:25,290 Yeah, I don't remember who it was to be honest, but there was 120 00:07:25,290 --> 00:07:27,610 someone else there and I had to battle them. 121 00:07:27,690 --> 00:07:30,730 That was like a full Mortal Kombat scene in my dream where I 122 00:07:30,730 --> 00:07:34,050 was battling the unproductive parasites at B. 123 00:07:35,250 --> 00:07:38,010 Yeah, I can't make up. This is where my life is, 124 00:07:38,010 --> 00:07:39,570 actually. I mean, I I think it's because I 125 00:07:39,570 --> 00:07:41,970 watched Prometheus again last night trying to unplug and 126 00:07:41,970 --> 00:07:44,090 there's that one scene of like the human spider thing. 127 00:07:44,770 --> 00:07:46,330 Anyways. Anyways, anyways, that's that's 128 00:07:46,330 --> 00:07:49,010 totally not here nor there to your point, Nico. 129 00:07:49,530 --> 00:07:53,750 It's funny that once I looked through the world through the 130 00:07:53,750 --> 00:07:58,710 Bitcoin lens and trying to understand Bitcoin in its place 131 00:07:58,710 --> 00:08:02,270 in the world, you start to learn a lot about the traditional 132 00:08:02,270 --> 00:08:06,630 financial system, global geopolitical macro. 133 00:08:06,670 --> 00:08:08,830 And I think we were even having this conversation yesterday. 134 00:08:08,830 --> 00:08:13,310 It's like being in Bitcoin is just a crash course in how the 135 00:08:14,340 --> 00:08:16,860 normal world works. You know, how how all of the 136 00:08:16,860 --> 00:08:20,340 adult adults in the room see the world and how the financial 137 00:08:20,340 --> 00:08:22,580 system works. And then it's just funny because 138 00:08:22,580 --> 00:08:26,180 we always filter everything through that Bitcoin lens and 139 00:08:26,180 --> 00:08:28,620 you're just like we were saying it to to each other. 140 00:08:28,620 --> 00:08:29,940 It's like Bitcoin changes everything. 141 00:08:29,940 --> 00:08:32,179 And it's so simple and everything's so convoluted and 142 00:08:32,179 --> 00:08:34,700 so complicated in the traditional financial world. 143 00:08:34,700 --> 00:08:37,700 And it's just like, I don't know, fix the money, fix the 144 00:08:37,700 --> 00:08:39,140 world. It it's just so simple. 145 00:08:39,140 --> 00:08:43,870 But it it really gives you a crash course on life when you 146 00:08:43,870 --> 00:08:47,390 start to understand Bitcoin and you and you start to, you know, 147 00:08:47,390 --> 00:08:50,910 understand how Bitcoin works and and why the free up system is 148 00:08:50,910 --> 00:08:53,790 broken. And yeah, it it's just, it blows 149 00:08:53,790 --> 00:08:56,430 my mind that we have learned about the traditional financial 150 00:08:56,430 --> 00:08:59,990 system through Bitcoin and I never learned that before I 151 00:08:59,990 --> 00:09:02,670 found Bitcoin. It just it blows my mind. 100%, 152 00:09:02,670 --> 00:09:06,790 I mean, again, like, it's like we didn't have to in a way, you 153 00:09:06,790 --> 00:09:10,270 know, like, and then I can't even imagine our children. 154 00:09:11,640 --> 00:09:14,640 Like they're gonna be born in a world where Bitcoin has already 155 00:09:14,640 --> 00:09:17,320 existed, right. So it's just it's just crazy to 156 00:09:17,320 --> 00:09:18,680 think. It's like when we think about 157 00:09:18,680 --> 00:09:20,880 our parents like they were born in a world or the Internet 158 00:09:20,880 --> 00:09:22,640 didn't exist. You know, like people still read 159 00:09:22,640 --> 00:09:24,520 newspapers. Is that that blows my, like, I 160 00:09:24,520 --> 00:09:29,040 can't even conceive of like, you know of that world. 161 00:09:29,040 --> 00:09:33,280 But I think the paradigm. Is is going to be so great 162 00:09:33,280 --> 00:09:36,920 because I don't think we've ever lived in a world where the money 163 00:09:36,920 --> 00:09:42,880 wasn't issued by the king or the emperor or the state or the 164 00:09:42,880 --> 00:09:45,440 government, you know, or the, you know, the democratically 165 00:09:45,440 --> 00:09:48,400 elected body, whatever this ruling class of people. 166 00:09:48,800 --> 00:09:51,760 And every single time throughout history, the ruling class of 167 00:09:51,760 --> 00:09:55,720 people manipulated the money to benefit themselves at the 168 00:09:55,720 --> 00:09:58,760 expense of the populist at the expense of the public. 169 00:09:59,250 --> 00:10:01,610 So now you have something like Bitcoin where they can't do 170 00:10:01,610 --> 00:10:03,610 that, right? It kind of levels the playing 171 00:10:03,610 --> 00:10:06,050 field and it kind of changes the power dynamics of the whole 172 00:10:06,050 --> 00:10:08,890 structure entirely. It was very, very fascinating, 173 00:10:08,890 --> 00:10:11,610 the entire thing. But you know what turned from a 174 00:10:11,610 --> 00:10:14,530 joke into a meme ended up an opti's dream. 175 00:10:14,850 --> 00:10:17,290 And I think Chrissy as a praying mantis. 176 00:10:17,290 --> 00:10:21,370 If anyone can make that a I picture of that, that'd be dope. 177 00:10:21,370 --> 00:10:23,330 Please send it to us. We'll put it on the meme review. 178 00:10:23,770 --> 00:10:26,450 Anyways, everybody, let's jump straight into the numbers. 179 00:10:26,450 --> 00:10:27,810 We have a lot to talk about today. 180 00:10:27,810 --> 00:10:31,990 Let's check it out. The Bitcoin numbers. 181 00:10:32,430 --> 00:10:35,310 Is your Bitcoin and cold storage really secure? 182 00:10:35,390 --> 00:10:38,870 Is your seed phrase really secure stamp seeds? 183 00:10:38,870 --> 00:10:42,510 Doityourself kit has everything you need to hammer your seed 184 00:10:42,510 --> 00:10:46,950 words into commercial grade titanium plates instead of just 185 00:10:46,950 --> 00:10:50,430 writing them on paper. Don't store your generational 186 00:10:50,430 --> 00:10:53,710 wealth on paper. Papers prone to water damage. 187 00:10:53,710 --> 00:10:55,670 Fire damage. You want to put your 188 00:10:55,670 --> 00:10:58,790 generational wealth on one of the strongest metals on planet 189 00:10:58,790 --> 00:11:01,630 earth, Titanium. Your words are actually stamped 190 00:11:01,630 --> 00:11:05,190 into this metal plate with this hammer and these letter stamps. 191 00:11:05,230 --> 00:11:07,750 And once your words are in, they aren't going anywhere. 192 00:11:07,830 --> 00:11:11,470 No risk of the plate breaking apart and pieces falling 193 00:11:11,470 --> 00:11:13,910 everywhere. Titanium stamp seeds will 194 00:11:13,910 --> 00:11:16,870 survive nearly triple the heat produced by a house fire. 195 00:11:16,870 --> 00:11:20,030 They're also crush proof, waterproof, non corrosive, and 196 00:11:20,030 --> 00:11:21,910 time proof. All things that paper is. 197 00:11:22,070 --> 00:11:25,510 Not allowing you to huddle your Bitcoin with Peace of Mind for 198 00:11:25,550 --> 00:11:28,990 the long haul. Stamp your seed on stamp seed. 199 00:11:29,550 --> 00:11:31,470 All right guys, I made it easy for you guys. 200 00:11:31,470 --> 00:11:33,470 You could scan the QR code on your screen. 201 00:11:33,470 --> 00:11:35,790 It will take you directly to the stamp seed website. 202 00:11:35,790 --> 00:11:39,030 Use promo code simply to get 15% off. 203 00:11:39,150 --> 00:11:42,870 So you could store your generational wealth on Titanium. 204 00:11:43,230 --> 00:11:49,990 At the time of recording, the Bitcoin price is $26,870 sats 205 00:11:49,990 --> 00:11:59,380 per dollar. 3722 Block height 809,899 blocks to having 30,101 206 00:11:59,740 --> 00:12:06,620 having estimate April 21st 2024 Total Lightning Network capacity 207 00:12:06,620 --> 00:12:13,260 4397 Bitcoin Capacity value 118 million Realize Monetary 208 00:12:13,260 --> 00:12:18,380 inflation 1.75% The market capitalization of Bitcoin 500. 209 00:12:18,910 --> 00:12:25,870 $23 billion Bitcoin versus gold market cap 4.14% I always say 210 00:12:25,870 --> 00:12:28,510 this every single day. My favorite statistic out of all 211 00:12:28,510 --> 00:12:31,230 this is realize monetary inflation because it's going to 212 00:12:31,230 --> 00:12:34,470 continue to go down and take Fiat currencies to absolute 213 00:12:34,470 --> 00:12:37,430 school. Even if they get back to that 2% 214 00:12:37,430 --> 00:12:40,150 rate, Bitcoins inflation rate is still. 215 00:12:40,740 --> 00:12:43,460 Lower and it's going to continue to go down forever. 216 00:12:43,660 --> 00:12:46,100 And then the second is the Bitcoin versus gold market cap. 217 00:12:46,380 --> 00:12:50,900 Currently it's sitting at 4.14%. Eventually it's going to be 100% 218 00:12:50,940 --> 00:12:53,820 and then after that it's going to be 150% and after that it's 219 00:12:53,820 --> 00:12:57,020 going to be 200% at 100% gold market cap. 220 00:12:57,020 --> 00:13:01,740 That puts the price of Bitcoin at $500,000 per coin. 221 00:13:02,500 --> 00:13:04,300 I think it's going to happen a lot sooner. 222 00:13:04,660 --> 00:13:07,740 Than people anticipate because just Bitcoin is superior. 223 00:13:07,780 --> 00:13:10,300 You know, I I know a lot of gold bugs might get you know their 224 00:13:10,300 --> 00:13:14,540 feelings hurt on that and you know, I understand honestly. 225 00:13:14,540 --> 00:13:16,940 Like and I know this might be unpopular with bitcoiners. 226 00:13:17,340 --> 00:13:21,100 I'm a fan of physical gold. I am I if you ever hold like a 227 00:13:21,100 --> 00:13:23,700 little gold bar in your hand like it feels really really 228 00:13:23,700 --> 00:13:26,620 nice. But I I would rather hold 229 00:13:26,620 --> 00:13:27,500 Bitcoin. Why? 230 00:13:27,500 --> 00:13:29,380 Because of its physical characteristics. 231 00:13:29,380 --> 00:13:33,280 It's physical properties. I could, you know store you know 232 00:13:33,480 --> 00:13:36,480 an unlimited amount of Bitcoin theoretically on a 12 word seed 233 00:13:36,480 --> 00:13:40,120 phrase and I could send that Bitcoin anywhere around the 234 00:13:40,120 --> 00:13:42,840 world instantaneously for pennies on the on the dollar, 235 00:13:43,200 --> 00:13:45,320 right. You can't do that with gold and 236 00:13:45,320 --> 00:13:47,880 and that's his physical limitations, right? 237 00:13:48,040 --> 00:13:51,200 That's not to say you know, you know, gold bar, It feels nice in 238 00:13:51,200 --> 00:13:56,040 your hand and because of its physical characteristics. 239 00:13:56,790 --> 00:14:00,710 The price has been suppressed. There's obviously a lot because 240 00:14:00,710 --> 00:14:05,350 due to this, the centralization of the custody of gold, due to 241 00:14:05,350 --> 00:14:09,150 the fact that they issued, there's a lot more paper gold on 242 00:14:09,150 --> 00:14:13,310 the market than there is actual gold that causes a price 243 00:14:13,310 --> 00:14:14,950 suppression. That's something that Caitlyn 244 00:14:14,950 --> 00:14:18,070 Long said could actually happen to Bitcoin through high 245 00:14:18,150 --> 00:14:21,390 rehypothecation. But The thing is with Bitcoin 246 00:14:21,550 --> 00:14:23,510 has this beautiful, beautiful trait. 247 00:14:23,770 --> 00:14:28,050 Where people could take self custody very, very, very easy. 248 00:14:29,290 --> 00:14:31,330 That's so funny. I love that comment, Kaneda 249 00:14:31,330 --> 00:14:33,050 says. Nikko is an introverted gold 250 00:14:33,050 --> 00:14:35,050 bug. No, I I do. 251 00:14:35,090 --> 00:14:37,010 I don't actually own any gold bars. 252 00:14:37,010 --> 00:14:39,570 I don't actually own gold. Like I'm 100% Bitcoin. 253 00:14:39,570 --> 00:14:41,530 But I'm telling you hold the gold bar in your hand. 254 00:14:41,530 --> 00:14:43,130 It feels good. Like it feels nice. 255 00:14:44,130 --> 00:14:45,810 I don't have anything against that. 256 00:14:45,970 --> 00:14:48,050 I just think Bitcoin is superior in my opinion. 257 00:14:48,970 --> 00:14:52,370 I think gold like paper gold is like it's like same as paper 258 00:14:52,370 --> 00:14:53,930 Bitcoin like it's not the real thing. 259 00:14:54,690 --> 00:14:57,450 Not your keys not your Bitcoin not your physical gold not your 260 00:14:57,450 --> 00:14:59,490 gold I guess would be the meme anyways. 261 00:14:59,650 --> 00:15:05,410 So a lot of the things that happens when the the state. 262 00:15:05,940 --> 00:15:09,500 Has this money printer. They have the ability to create 263 00:15:09,500 --> 00:15:12,700 money for free that everyone else has to work for is the 264 00:15:12,700 --> 00:15:17,260 misallocation of capital and also funding things that 265 00:15:17,260 --> 00:15:20,260 normally they would not be able to afford and fund. 266 00:15:20,660 --> 00:15:24,380 And one of those things, out of the many, many things, are the 267 00:15:24,500 --> 00:15:28,900 endless wars and also the disconnect, the disconnection, 268 00:15:28,900 --> 00:15:33,020 from the political class, the bureaucratic elite that benefit 269 00:15:33,020 --> 00:15:37,020 from that money printer. At the expense of everyone else, 270 00:15:37,020 --> 00:15:40,180 right. So and the the disconnect, it 271 00:15:40,180 --> 00:15:42,780 becomes greater and greater and greater the more the money 272 00:15:42,780 --> 00:15:47,260 breaks, right. And here is Mitch McConnell. 273 00:15:47,540 --> 00:15:51,980 He is the Senate lead for the he's the leader of the 274 00:15:51,980 --> 00:15:55,860 Republicans in the Senate. So the minority senator, Senate 275 00:15:55,860 --> 00:16:02,620 leader and here very interesting comments that this guy had to 276 00:16:02,620 --> 00:16:04,340 say. So let's check it out. 277 00:16:05,930 --> 00:16:09,810 Providing assistance for the Ukrainians to defeat the 278 00:16:09,810 --> 00:16:13,050 Russians. That's the number one priority 279 00:16:13,570 --> 00:16:18,050 for the United States right now, according to most Republicans. 280 00:16:19,170 --> 00:16:26,450 So you have a politician saying that the number one priority for 281 00:16:27,130 --> 00:16:33,810 the Republican Party is sending billions of dollars to Ukraine. 282 00:16:34,900 --> 00:16:41,620 To fight a war that is the priority of the bureaucratic 283 00:16:41,620 --> 00:16:44,260 elite that benefit from the money printer. 284 00:16:45,140 --> 00:16:49,980 At the same time, 61% of Americans say they are living 285 00:16:49,980 --> 00:16:55,540 paycheck to paycheck. And I love the cherry on top of 286 00:16:55,540 --> 00:16:58,340 this article. Even as inflation cools, 287 00:16:59,220 --> 00:17:02,180 inflation cooling would basically mean that. 288 00:17:03,160 --> 00:17:05,160 The prices of things started to go down. 289 00:17:05,160 --> 00:17:08,240 That's not what it means. It means that the prices of 290 00:17:08,240 --> 00:17:12,599 things are not going up as fast as quickly. 291 00:17:15,920 --> 00:17:20,920 And there you have a politician saying our priority is sending 292 00:17:20,920 --> 00:17:25,960 billions of dollars overseas, which they can't afford to do 293 00:17:25,960 --> 00:17:30,480 that the US spends more than a trillion dollars every year. 294 00:17:30,870 --> 00:17:33,510 In deficit spending than it collects in tax revenue. 295 00:17:33,750 --> 00:17:35,750 How are they able to afford that? 296 00:17:36,470 --> 00:17:39,070 They're able to afford that through the money printer the 297 00:17:39,070 --> 00:17:44,110 hidden tax of inflation. And here an article that just 298 00:17:44,110 --> 00:17:46,870 came out very recently, July 31st, 2023. 299 00:17:46,870 --> 00:17:50,870 I think we covered it when it broke. 61% of Americans say 300 00:17:50,870 --> 00:17:52,270 they're living paycheck to paycheck. 301 00:17:54,310 --> 00:17:56,670 But the leader of the Republicans in the Senate is 302 00:17:56,670 --> 00:17:59,590 literally saying the top priority is to send money to 303 00:17:59,590 --> 00:18:01,760 Ukraine. And let's take a look at what 304 00:18:01,760 --> 00:18:08,400 President Zelensky says when he's asked about the US The and 305 00:18:08,480 --> 00:18:12,600 I love how they say U.S. tax money, but in a way it's a 306 00:18:12,600 --> 00:18:17,600 correct definition of what it is, but not in the way that you 307 00:18:17,600 --> 00:18:22,480 would think, because it isn't direct taxation that funds this. 308 00:18:23,320 --> 00:18:28,040 It's direct taxation, but also the indirect taxation of 309 00:18:28,040 --> 00:18:32,400 inflation. So while 61% of Americans are 310 00:18:32,400 --> 00:18:36,640 dealing or living paycheck to paycheck, while housing is 311 00:18:36,640 --> 00:18:39,320 becoming unaffordable for the millennials and the zoomer 312 00:18:39,320 --> 00:18:43,800 generations, the top priority of the politicians in in the 313 00:18:43,800 --> 00:18:48,760 Imperial City in Washington DC is to fund a war thousands of 314 00:18:48,760 --> 00:18:56,680 miles away. This is Fiat that. 315 00:18:56,680 --> 00:19:01,680 This is what Fiat is. And here is Szalinski, the 316 00:19:01,680 --> 00:19:06,440 president of Ukraine, who's benefiting from all this printed 317 00:19:06,440 --> 00:19:08,840 money. And let's take a look at how he 318 00:19:08,840 --> 00:19:10,960 reacts when he's asked some questions about it. 319 00:19:11,440 --> 00:19:14,360 We're firing. All you have to know all these 320 00:19:14,360 --> 00:19:18,960 cases, all the all these cases are not with the help and not 321 00:19:18,960 --> 00:19:24,120 connecting that in the podias not connected with the help of 322 00:19:24,120 --> 00:19:27,960 our partners. So it's not about that. 323 00:19:28,440 --> 00:19:34,640 Weapon of our partners or money for the weapon or money for the 324 00:19:35,320 --> 00:19:40,240 budget to give pensions social support etcetera. 325 00:19:40,520 --> 00:19:43,400 It's in other cases it's not about the partners. 326 00:19:43,400 --> 00:19:46,720 So you see these are Ukrainian. These are Ukrainian cases. 327 00:19:46,760 --> 00:19:51,800 But anyway, yes, but anyway it doesn't matter for me. 328 00:19:52,000 --> 00:19:56,240 Now we will fight and will in the and win in this war. 329 00:19:56,820 --> 00:20:01,220 But again, I'm underlining it's not the money of our partners. 330 00:20:01,420 --> 00:20:06,900 Also, it's important to know. Finally, 600 days of war for you 331 00:20:06,900 --> 00:20:12,020 nonstop work. How are you holding up and do 332 00:20:12,020 --> 00:20:14,820 you get depressed? How are you managing? 333 00:20:15,580 --> 00:20:20,900 No, no, no, I'm OK. So I can live with it. 334 00:20:21,580 --> 00:20:25,340 And I. Sometimes. 335 00:20:25,540 --> 00:20:27,980 Sometimes I don't. I don't have a lot of time, but 336 00:20:27,980 --> 00:20:30,940 sometimes I'm looking on my children. 337 00:20:32,020 --> 00:20:38,940 Yes, they are in Ukraine. They are very Ukrainian, so and 338 00:20:38,940 --> 00:20:41,660 let's take a look at the tweet, says Solinsky gets emotional 339 00:20:41,660 --> 00:20:44,420 when asked about the disappearance of U.S. tax money. 340 00:20:44,740 --> 00:20:48,340 Interrupts A/C NN journalist and says it's no longer U.S. tax 341 00:20:48,340 --> 00:20:57,100 money, it's Ukrainian money. Now you know, and it like I I 342 00:20:57,100 --> 00:20:58,740 don't even know what to respond to that. 343 00:20:59,300 --> 00:21:03,660 And here's the thing. Ron Paul, the legend that he is 344 00:21:03,740 --> 00:21:07,220 correctly identified this back in 2008. 345 00:21:07,780 --> 00:21:12,180 Ron Paul is a legend because he really started the libertarian 346 00:21:12,180 --> 00:21:17,620 movement here in the US The the end, the Fed movement, the 347 00:21:17,620 --> 00:21:20,260 revitalization of the Tea Party movement as well. 348 00:21:20,260 --> 00:21:22,510 You can make the case even though that you can make the 349 00:21:22,510 --> 00:21:25,190 case that that has recently been coopted. 350 00:21:27,270 --> 00:21:31,150 A lot of people like, you know, and This is why we hate talking 351 00:21:31,150 --> 00:21:33,590 about left and right politics and we hate talking about 352 00:21:33,590 --> 00:21:37,750 Democrats and Republicans. Because in reality both sides 353 00:21:38,430 --> 00:21:41,750 really believe in the Church of Fiat and both sides in the way 354 00:21:41,750 --> 00:21:44,910 are collectivists. And I think in the in reality 355 00:21:44,910 --> 00:21:46,470 it's not really about left verse, right. 356 00:21:46,470 --> 00:21:50,370 It's really about collectivist verse individualists, or the way 357 00:21:50,370 --> 00:21:53,690 that we like to phrase it, The party of green, The party of 358 00:21:53,690 --> 00:21:57,450 Fiat, central bank, digital currencies, slavery, nihilism, 359 00:21:57,450 --> 00:22:01,650 poverty, war versus a party of peace, Bitcoin, prosperity, 360 00:22:01,650 --> 00:22:08,970 freedom, optimism, hope. And here's Ron Paul in 2008 just 361 00:22:08,970 --> 00:22:14,970 pointing out, you know, the racket of war that, you know, 362 00:22:15,290 --> 00:22:19,490 the American taxpayer in in direct taxation and also the 363 00:22:19,490 --> 00:22:22,850 indirect taxation is currently paying for out of their pocket 364 00:22:23,290 --> 00:22:26,170 whether they realize it or not. And there you have the you, you 365 00:22:26,170 --> 00:22:28,370 know, you have the Ukrainian president who's benefiting from 366 00:22:28,370 --> 00:22:30,050 that? He's just like, Oh no, it's not 367 00:22:30,050 --> 00:22:32,010 the money of our partners. We're going to, we're going to, 368 00:22:32,010 --> 00:22:33,330 we're going to fight this war anyways. 369 00:22:33,730 --> 00:22:35,530 They wouldn't be able to fund the war without the funding. 370 00:22:36,130 --> 00:22:38,210 The war would end tomorrow. Right. 371 00:22:38,210 --> 00:22:41,530 So anyways, and again, like, look at the softball questions 372 00:22:41,530 --> 00:22:43,010 from the media. They're like asking him about 373 00:22:43,010 --> 00:22:46,370 his kids and shit. Anyways, let's check this out. 374 00:22:46,850 --> 00:22:50,050 Madam Speaker, I have a few questions for my colleagues. 375 00:22:50,930 --> 00:22:53,890 What if our foreign policy of the past century is deeply 376 00:22:53,890 --> 00:22:57,170 flawed and has not served our national security interests? 377 00:22:57,810 --> 00:22:59,930 What if we wake up one day and realize that the terrorist 378 00:22:59,930 --> 00:23:02,410 threat is a predictable consequence of our meddling in 379 00:23:02,410 --> 00:23:05,810 the affairs of others and has nothing to do with us being free 380 00:23:05,890 --> 00:23:09,650 and prosperous? What if propping up repressive 381 00:23:09,650 --> 00:23:12,650 regimes in the Middle East endangers both the United States 382 00:23:12,730 --> 00:23:15,650 and Israel? What if occupying countries like 383 00:23:15,650 --> 00:23:19,570 Iraq and Afghanistan and bombing Pakistan is directly related to 384 00:23:19,570 --> 00:23:24,330 the hatred directed toward us? What if someday it dawns on us 385 00:23:24,330 --> 00:23:28,770 that losing over 5000 American military personnel in the Middle 386 00:23:28,770 --> 00:23:32,330 East since 911 is not a fair trade off for the loss of nearly 387 00:23:32,370 --> 00:23:35,250 3000 American citizens, no matter how many Iraqi, 388 00:23:35,250 --> 00:23:38,210 Pakistani, and Afghan people are killed or displaced? 389 00:23:38,770 --> 00:23:42,130 What if we finally decide that torture, even if called enhanced 390 00:23:42,130 --> 00:23:45,110 interrogation technique? Is self-destructive and produces 391 00:23:45,110 --> 00:23:48,150 no useful information and that contracting it out to a third 392 00:23:48,150 --> 00:23:51,830 world nation is just as evil. What if it is finally realized 393 00:23:51,830 --> 00:23:55,030 that war and military spending is always destructive to the 394 00:23:55,030 --> 00:23:57,510 economy? What if all wartime spending is 395 00:23:57,510 --> 00:24:00,230 paid for through the deceitful and evil process of inflating 396 00:24:00,230 --> 00:24:03,150 and borrowing? What if we finally see that 397 00:24:03,150 --> 00:24:06,790 wartime conditions always undermine personal liberty? 398 00:24:07,450 --> 00:24:09,530 What if conservatives who preach small government wake up and 399 00:24:09,530 --> 00:24:12,770 realize that our intervention is foreign policy provides the 400 00:24:12,770 --> 00:24:15,090 greatest incentive to expand the government? 401 00:24:15,570 --> 00:24:18,690 What if conservatives understood once again that their only 402 00:24:18,690 --> 00:24:21,890 logical position military intervention and managing an 403 00:24:21,890 --> 00:24:25,050 empire throughout the world? What if the American people woke 404 00:24:25,050 --> 00:24:27,810 up and understood that the official reasons for going to 405 00:24:27,810 --> 00:24:31,010 war are almost always based on lies and promoted by war 406 00:24:31,010 --> 00:24:33,450 propaganda in order to serve special interests? 407 00:24:34,130 --> 00:24:36,530 What if we as a nation came to realize that the quest for 408 00:24:36,530 --> 00:24:40,050 empire eventually destroys all great nations? 409 00:24:40,610 --> 00:24:44,010 What if Obama has no intention of leaving Iraq? 410 00:24:44,490 --> 00:24:47,130 What if a military draft is being planned for for the wars 411 00:24:47,130 --> 00:24:49,370 that will spray out if our foreign policy is not changed? 412 00:24:49,850 --> 00:24:52,490 What if the American people learn the truth that our foreign 413 00:24:52,490 --> 00:24:55,450 policy has nothing to do with national security, that it never 414 00:24:55,450 --> 00:24:57,770 changes from one administration to the next? 415 00:24:58,210 --> 00:25:01,330 What if war, in preparation for war, is a racket serving the 416 00:25:01,330 --> 00:25:03,960 special interest? What if President Obama is 417 00:25:03,960 --> 00:25:06,200 completely wrong about Afghanistan and it turns out 418 00:25:06,200 --> 00:25:08,280 worse than Iraq and Vietnam put together? 419 00:25:09,400 --> 00:25:12,840 What if Christianity actually teaches peace and not preventive 420 00:25:12,840 --> 00:25:16,280 wars of aggression? What if diplomacy is found to be 421 00:25:16,280 --> 00:25:18,960 superior to bombs and bribes in protecting America? 422 00:25:19,880 --> 00:25:23,240 What happens if my concerns are completely unfounded? 423 00:25:24,360 --> 00:25:27,120 Nothing. But what happens if my concerns 424 00:25:27,120 --> 00:25:30,920 are justified and ignored? Nothing good. 425 00:25:31,680 --> 00:25:33,080 And I yield back the balance of my time. 426 00:25:33,880 --> 00:25:39,840 So again, Ron Paul, absolute legend and a lot of the things 427 00:25:39,840 --> 00:25:43,400 that he said, so let's go through it. the US pulled out of 428 00:25:43,400 --> 00:25:46,120 Iraq. It created a power vacuum and 429 00:25:46,120 --> 00:25:49,520 that created ISIS, right? And all the terrible atrocities 430 00:25:49,520 --> 00:25:52,600 that came with it. We remember the pullout of 431 00:25:52,600 --> 00:25:54,800 Afghanistan, right? The people falling out of the 432 00:25:54,800 --> 00:25:57,960 viral videos of people falling off the planes while they were 433 00:25:57,960 --> 00:26:00,520 evacuating the Kabul airport, right? 434 00:26:01,060 --> 00:26:03,820 Not to mention the suicide attack that killed 13 Marines. 435 00:26:06,860 --> 00:26:10,180 And it was very similar. It's very reminiscent of how the 436 00:26:10,180 --> 00:26:14,660 US pulled out of Vietnam, right? And as soon as that ended, as 437 00:26:14,660 --> 00:26:19,020 soon as that ended, the thing in Ukraine started. 438 00:26:22,060 --> 00:26:26,260 That's not a coincidence. That's a racket that that's like 439 00:26:26,260 --> 00:26:29,860 literally a racket. But again, you can identify it 440 00:26:30,960 --> 00:26:34,680 and you can say something about it and like Ron Paul has done 441 00:26:34,680 --> 00:26:40,200 it, but until now we have not had the tool to really 442 00:26:40,200 --> 00:26:42,720 effectuate change. And someone in the chat said 443 00:26:42,720 --> 00:26:44,680 voting doesn't matter. I disagree. 444 00:26:45,160 --> 00:26:48,200 I think voting does matter like like traditional voting, like it 445 00:26:48,200 --> 00:26:52,120 does matter, right? But I think the most powerful 446 00:26:52,120 --> 00:26:57,760 vote you can make is the vote of opting out of Fiat money, which 447 00:26:57,760 --> 00:27:03,300 is the enabler of not only the endless wars, but the enabler of 448 00:27:03,300 --> 00:27:07,780 collectivism. And I think Bitcoin starves 449 00:27:07,860 --> 00:27:12,780 collectivism, and if it's starves collectivism, it kills 450 00:27:12,780 --> 00:27:17,900 Fiat, right. So yeah, man, this is, you know, 451 00:27:19,100 --> 00:27:21,180 I, I really was putting this together this morning. 452 00:27:21,180 --> 00:27:22,820 And I know, I know, it's a little bit deeper than we 453 00:27:22,820 --> 00:27:29,880 usually go, but but when we say, you know, the peaceful Bitcoin 454 00:27:29,880 --> 00:27:34,040 revolution, separate money for from state Bitcoin or slavery or 455 00:27:34,040 --> 00:27:36,600 beauty on says it best Bitcoin or death. 456 00:27:37,480 --> 00:27:42,320 They might seem like hyperbolic statements, but they're 100% 457 00:27:42,320 --> 00:27:46,320 true. You either pick Fiat currencies 458 00:27:46,320 --> 00:27:50,040 in the traditional system and you will continue to have these 459 00:27:50,040 --> 00:27:56,120 endless wars, this endless bloodshed, or you choose to try 460 00:27:56,120 --> 00:28:00,220 something different, right? You choose to use the money that 461 00:28:00,220 --> 00:28:02,620 can't be inflated away. And if it can't be inflated 462 00:28:02,620 --> 00:28:09,140 away, that means that the government is forced to actually 463 00:28:09,140 --> 00:28:12,460 live within their means. Because if they want to spend 464 00:28:12,460 --> 00:28:15,260 more, they're going to have to convince the populace to raise 465 00:28:15,260 --> 00:28:18,500 taxes. And that's very, very unpopular, 466 00:28:19,140 --> 00:28:22,780 right? So the ability to inflate, to 467 00:28:22,780 --> 00:28:24,300 pay for things. Endless war. 468 00:28:24,300 --> 00:28:28,400 And we're just covering war today but it's it's it applies 469 00:28:28,400 --> 00:28:34,080 to like so many facets of society this total misallocation 470 00:28:34,080 --> 00:28:37,280 of capital. And Ron Paul, what a legend man 471 00:28:37,280 --> 00:28:41,920 called it out in 2008. Julian Assange called this as 472 00:28:41,920 --> 00:28:43,560 well. He there's a very famous video 473 00:28:44,440 --> 00:28:48,120 talking about the endless wars. Julian Assange is in, is in the, 474 00:28:48,240 --> 00:28:50,560 you know, he's he's he's in jail basically. 475 00:28:51,540 --> 00:28:56,060 And Ron Paul, you know he spoke at one of the biggest Bitcoin 476 00:28:56,060 --> 00:28:58,420 conferences to date, which was Bitcoin 2021. 477 00:28:58,420 --> 00:29:04,300 That was when Ninebukele made his, his famous famous 478 00:29:04,300 --> 00:29:06,540 announcement that that El Salvador is going to make 479 00:29:06,540 --> 00:29:13,260 Bitcoin legal tender. So yeah man, it's it's a crazy 480 00:29:13,260 --> 00:29:16,020 world. But Bitcoin truly does fix this. 481 00:29:16,060 --> 00:29:19,410 It really really does fix us. So opt out. 482 00:29:19,530 --> 00:29:22,090 Opt out. Don't and also don't like this 483 00:29:22,090 --> 00:29:23,650 whole idea where voting doesn't matter. 484 00:29:23,650 --> 00:29:25,330 That's bullshit. It does matter. 485 00:29:26,850 --> 00:29:31,610 Just the the vote that matters more is the vote that you 486 00:29:31,610 --> 00:29:33,890 choose. What money are you choosing to 487 00:29:33,890 --> 00:29:36,170 use? And more importantly, are you 488 00:29:36,370 --> 00:29:38,890 taking self custody of that said money. 489 00:29:39,890 --> 00:29:41,450 So end of rent. I know it was a little bit long 490 00:29:41,450 --> 00:29:45,010 today, but I went down this rabbit hole last night and I 491 00:29:45,010 --> 00:29:47,330 felt really passionate about it. Anyways, Opti, what's your take? 492 00:29:47,960 --> 00:29:50,200 Yeah, well, first and foremost, we say it all the time. 493 00:29:50,200 --> 00:29:52,760 You know, the only two votes that matters is with your 494 00:29:52,760 --> 00:29:56,320 pocketbook and your feet. And you know, Bitcoin allows for 495 00:29:56,320 --> 00:29:58,240 both of those. But that's a whole another 496 00:29:58,240 --> 00:29:59,720 tangent that we talk about all the time. 497 00:30:00,080 --> 00:30:03,320 And while you were talking, I was just reminded of the idea 498 00:30:03,320 --> 00:30:05,640 that they call us bitcoiners a cult. 499 00:30:07,030 --> 00:30:10,830 And it just it it reminds me that Fiat is the real cult. 500 00:30:10,830 --> 00:30:14,190 They're a death cult. Like they are just on this path 501 00:30:14,470 --> 00:30:17,990 to utter destruction and they don't even care like who gets in 502 00:30:17,990 --> 00:30:20,070 their way, even if it's themselves like they're they're 503 00:30:20,070 --> 00:30:23,710 it's literally like letting blood sucking leeches on your 504 00:30:23,710 --> 00:30:26,910 body and calling it health. Like calling this medicine and 505 00:30:26,910 --> 00:30:29,850 and medical advice and. You know, look, I'm no fan of 506 00:30:29,850 --> 00:30:31,690 printing money. We say it every single day. 507 00:30:31,690 --> 00:30:33,850 Printing money is the reason why we're so broke. 508 00:30:33,850 --> 00:30:38,210 It's the reason why the Fiat racket, the Fiat industrial 509 00:30:38,210 --> 00:30:40,890 complex is able. Military industrial complex is 510 00:30:40,890 --> 00:30:44,370 able to get away with so much stuff because most average 511 00:30:44,370 --> 00:30:48,130 people do not want to rob. And kill people. 512 00:30:48,170 --> 00:30:54,130 And it is not tasteful to go into other other countries on 513 00:30:54,170 --> 00:30:57,770 this path to war so that we that American corporations can 514 00:30:57,770 --> 00:31:00,570 profit. And so if the government had to 515 00:31:00,570 --> 00:31:04,210 ask people for their taxes to go to war, I am sure we wouldn't be 516 00:31:04,210 --> 00:31:06,650 in all the messes that we've been in throughout. 517 00:31:06,730 --> 00:31:09,650 I don't know the history of the United States. 518 00:31:10,570 --> 00:31:13,850 And again, maybe I am politically incorrect when I say 519 00:31:13,850 --> 00:31:17,100 this, but like. Is it wrong to wonder why the US 520 00:31:17,100 --> 00:31:18,900 is giving so much money to foreign countries? 521 00:31:18,900 --> 00:31:22,660 Like they're printing money out of control and they're giving it 522 00:31:22,780 --> 00:31:25,620 to countries that have literally no effect on the American 523 00:31:25,620 --> 00:31:26,260 people. Like. 524 00:31:26,850 --> 00:31:29,210 You know, I I don't, I don't mean to get like collectivists 525 00:31:29,210 --> 00:31:30,970 on this, but like, if they're going to print some money, you'd 526 00:31:30,970 --> 00:31:33,490 think they'd want to print money and give it to the American 527 00:31:33,490 --> 00:31:36,810 people instead of a country, you know, thousands of miles away 528 00:31:36,810 --> 00:31:39,770 like this. Just it literally makes no sense 529 00:31:39,770 --> 00:31:41,570 to me but and and it blows my mind. 530 00:31:41,570 --> 00:31:43,450 But you know what do I know? I'm not a politician. 531 00:31:43,450 --> 00:31:46,010 I don't. I don't understand what you know 532 00:31:46,050 --> 00:31:48,650 for President 2028. It's so simple. 533 00:31:48,650 --> 00:31:51,770 Like, wait, you're printing money and you're giving it to 534 00:31:51,770 --> 00:31:54,010 another country and this is supposed to benefit us? 535 00:31:54,010 --> 00:31:55,770 Like, wait, what? Like, how is this supposed to 536 00:31:55,770 --> 00:31:56,770 make sense? You know, like. 537 00:31:57,090 --> 00:31:59,850 But I'm sure Nico, if I did run on that platform, like I will 538 00:31:59,850 --> 00:32:02,410 print money for you citizen. I'm sure people would vote me 539 00:32:02,410 --> 00:32:04,770 in. But you guys know, you know, 540 00:32:04,770 --> 00:32:08,770 like This is why we're bitcoiners and and This is why 541 00:32:09,050 --> 00:32:13,650 we tell everyone to take as much of their wealth outside of the 542 00:32:13,650 --> 00:32:16,610 Fiat system. Because if you don't, if you 543 00:32:16,610 --> 00:32:20,410 don't believe in this stuff, then by participating in the 544 00:32:20,410 --> 00:32:22,690 Fiat system and of course we have bills, we have rent. 545 00:32:23,090 --> 00:32:25,330 You know, there's not that many, very many producers and 546 00:32:25,330 --> 00:32:26,690 merchants that are taking Bitcoin. 547 00:32:26,690 --> 00:32:29,050 So you need a certain amount of Fiat money so that you can 548 00:32:29,050 --> 00:32:32,650 survive in the world that we live in currently to survive in 549 00:32:32,650 --> 00:32:37,210 reality, but if you don't like what you see in the world. 550 00:32:37,780 --> 00:32:40,700 Then you need to hold on to some Bitcoin that you need to opt out 551 00:32:40,700 --> 00:32:43,260 as much wealth as possible and put it into Bitcoin because it's 552 00:32:43,260 --> 00:32:44,620 the only thing that can't debase. 553 00:32:44,620 --> 00:32:48,100 It's the only thing they can't tax and funnel that money and 554 00:32:48,100 --> 00:32:50,860 redistribute that wealth to things that you don't agree 555 00:32:50,860 --> 00:32:52,660 with. Like This is why we are 556 00:32:52,660 --> 00:32:55,680 bitcoiners. And This is why Bitcoin is a 557 00:32:55,680 --> 00:32:58,840 political and and being a political is a political stance. 558 00:32:58,840 --> 00:33:01,200 And I I know everyone in this in the chat saying like, oh, 559 00:33:01,520 --> 00:33:03,320 Bitcoin political whether you want it or not. 560 00:33:03,320 --> 00:33:05,320 And it's like, yeah, it's because it's apolitical. 561 00:33:05,320 --> 00:33:08,480 And that that stance is the most political stance you can take. 562 00:33:08,800 --> 00:33:12,360 And you take away their power of printing money and you take away 563 00:33:12,360 --> 00:33:17,200 all, well, not maybe not all but most of the atrocities of, you 564 00:33:17,200 --> 00:33:18,720 know, the last 100 years like it. 565 00:33:19,040 --> 00:33:21,520 What's the saying, Nico? It is no coincidence that the 566 00:33:21,560 --> 00:33:25,040 era of Fiat. Central banks is the bloodiest 567 00:33:25,080 --> 00:33:27,680 era ever. Like, there's no coincidence 568 00:33:27,680 --> 00:33:31,040 here and and actually another point that that kind of popped 569 00:33:31,040 --> 00:33:33,200 in my mind while you were talking about what's the 570 00:33:33,200 --> 00:33:36,120 statistic? It was like 63 or 61% of the 571 00:33:36,120 --> 00:33:38,280 American population is living paycheck to paycheck. 572 00:33:38,520 --> 00:33:42,080 Well since that article came out and I think this was last week, 573 00:33:42,800 --> 00:33:49,240 Americans have racked up their credit cards to an all time high 574 00:33:49,320 --> 00:33:51,960 of $1 trillion. That that means like. 575 00:33:53,180 --> 00:33:54,860 Money isn't going as far as it used to. 576 00:33:54,860 --> 00:33:56,660 They're like, everyone is feeling broke. 577 00:33:56,660 --> 00:33:59,860 And I saw some statistics this morning about like rent and 578 00:33:59,860 --> 00:34:03,860 groceries and car payments and it's like just the basic 579 00:34:03,860 --> 00:34:07,660 necessities of life are becoming more or even too expensive for 580 00:34:07,660 --> 00:34:10,380 the average person. And like people are, people are 581 00:34:10,380 --> 00:34:12,620 just supposed to like take it and be like, Oh yeah, this is 582 00:34:12,620 --> 00:34:13,980 normal. This is how things happen. 583 00:34:13,980 --> 00:34:18,699 And it's like, no, they have. Literally destroyed the money 584 00:34:18,699 --> 00:34:20,860 guys. And it's always about the money 585 00:34:20,860 --> 00:34:23,460 and the more they print money, even if it's for your favorite, 586 00:34:23,460 --> 00:34:25,380 feel good cause like it's making you poorer. 587 00:34:25,659 --> 00:34:28,500 Like why do we care about someone on the other side of the 588 00:34:28,500 --> 00:34:30,100 planet when you are getting poorer? 589 00:34:30,100 --> 00:34:34,100 Like you know, hey you need to let your cup overflow first and 590 00:34:34,100 --> 00:34:36,860 you need to have some savings or else you're the one that's going 591 00:34:36,860 --> 00:34:40,340 to not be surviving. Like, it's so simple, but a lot 592 00:34:40,340 --> 00:34:43,060 of times people sacrifice their own well-being for, you know, 593 00:34:43,060 --> 00:34:45,699 the collectivist idea that you're a compassionate. 594 00:34:46,219 --> 00:34:49,139 You know, good person. It's like, yo, I like living. 595 00:34:49,139 --> 00:34:53,139 I I'm not going to apologize for wanting to survive and going to 596 00:34:53,179 --> 00:34:57,220 a grocery store and wondering why my $100 isn't going as far 597 00:34:57,220 --> 00:34:58,780 as it used to. Like it just. 598 00:34:59,650 --> 00:35:02,330 Why are we getting poorer? And why should we just take this 599 00:35:02,330 --> 00:35:05,530 like it's a it's a normal thing and it just blows my mind that 600 00:35:05,530 --> 00:35:07,650 more people don't see that it's the money and the more they 601 00:35:07,650 --> 00:35:09,850 print the poorer we get. Like, it's very simple. 602 00:35:10,130 --> 00:35:13,010 Anyways, I see we're here with already 35 minutes and maybe we 603 00:35:13,010 --> 00:35:16,450 should It's a it's a it's a Friday episode so it's the 604 00:35:16,450 --> 00:35:18,490 Friday special. Anyways, guys, I want to give a 605 00:35:18,490 --> 00:35:23,330 very special shout out to our sponsor Bitcoin 2024. 606 00:35:23,650 --> 00:35:25,530 It's gonna be in Nashville, TN this year. 607 00:35:25,530 --> 00:35:29,010 It's not going to be in Miami July 25th through this 27th. 608 00:35:29,210 --> 00:35:33,930 The Year of the having at the Music City Center in Nashville. 609 00:35:34,170 --> 00:35:39,410 Anyways, for a GA ticket you can get it for 349 for a industry 610 00:35:39,410 --> 00:35:40,730 pass. If you're trying to get a job in 611 00:35:40,730 --> 00:35:44,090 the industry, I definitely recommend this one. 849 and for 612 00:35:44,090 --> 00:35:48,410 a whale pass you can get it for $4749. 613 00:35:48,740 --> 00:35:51,780 You want to get your tickets quickly to Bitcoin 2024 in 614 00:35:51,780 --> 00:35:54,140 Nashville, TN because the prices do go up. 615 00:35:54,260 --> 00:35:55,460 Opti and I are going to be there. 616 00:35:55,460 --> 00:35:58,820 It's a party the biggest Bitcoin celebration of the year. 617 00:35:58,980 --> 00:36:04,220 Bitcoin 2024 use promo code simply to get a discount on your 618 00:36:04,220 --> 00:36:06,300 tickets. Anyways guys, let's hit the 619 00:36:06,300 --> 00:36:14,260 news, the Daily News. I want to give a shout out to 620 00:36:14,260 --> 00:36:18,590 our sponsor, Foundation Devices. It's self custody done right. 621 00:36:18,630 --> 00:36:22,190 They built a premium grade hardware wallet called Passport 622 00:36:22,430 --> 00:36:25,270 right here in the US. It's fully open source and 623 00:36:25,270 --> 00:36:27,910 verifiable. It's the most intuitive Bitcoin 624 00:36:27,910 --> 00:36:31,830 wallet designed with the UX, reminiscent of a simple feature 625 00:36:31,830 --> 00:36:34,650 phone so you will know how to navigate it and use it the 626 00:36:34,650 --> 00:36:37,970 moment you pick it up. Get your Bitcoin off exchanges 627 00:36:37,970 --> 00:36:40,690 and into your into your own hands in just a few minutes. 628 00:36:40,690 --> 00:36:43,730 Experience the Peace of Mind that comes with taking ownership 629 00:36:43,770 --> 00:36:46,730 of your own keys. After a massive sellout during 630 00:36:46,730 --> 00:36:50,730 Bitcoin Miami 2023, the passport is back in stock at 631 00:36:50,730 --> 00:36:53,730 foundationdevices.com. Bitcoin only. 632 00:36:53,850 --> 00:36:56,370 Open source. Verifiable completely air gap 633 00:36:56,450 --> 00:37:00,330 security model, gorgeous design, craft, premium grade materials. 634 00:37:00,530 --> 00:37:03,730 If you're thinking about getting your Bitcoin off changes, this 635 00:37:03,730 --> 00:37:06,410 is the one for you. Check out the passport link in 636 00:37:06,410 --> 00:37:08,370 the show notes below to learn more. 637 00:37:09,450 --> 00:37:12,930 All right everybody, we got a wine, we got someone asking 638 00:37:12,930 --> 00:37:14,490 someone in rumble. By the way, shout out to our 639 00:37:14,490 --> 00:37:16,690 rumble audience, 50 live viewers. 640 00:37:16,690 --> 00:37:19,570 It's growing by the day guys. You could always catch the live 641 00:37:19,570 --> 00:37:22,090 stream if we're not on YouTube for whatever reason, on rumble 642 00:37:22,090 --> 00:37:24,410 and on Twitter. And of course shout out to our 643 00:37:24,410 --> 00:37:26,130 YouTube audience. If you're enjoying the stream, 644 00:37:26,370 --> 00:37:29,730 make sure to smash that like button really helps us with the 645 00:37:29,770 --> 00:37:32,250 algos. Help us maintain our streak of 646 00:37:32,250 --> 00:37:35,770 breaking 100 likes within the first hour of the stream. 647 00:37:36,150 --> 00:37:37,790 By the way, I made it easy for you guys. 648 00:37:37,790 --> 00:37:40,710 You could scan the QR code on your screen, take you directly 649 00:37:40,830 --> 00:37:43,950 to the Foundation Devices website where you can get by 650 00:37:43,950 --> 00:37:46,350 yourself. A passport hardware wallet? 651 00:37:46,550 --> 00:37:50,990 Not your keys, not your Bitcoin. Anyways, this is what Saylor 652 00:37:51,030 --> 00:37:52,870 tweeted and this is what we wanted to cover today. 653 00:37:53,350 --> 00:37:57,710 If you don't have access to dollars, Bitcoin is a lifeline. 654 00:37:57,710 --> 00:37:59,910 So check this out. It goes through some of those 655 00:37:59,910 --> 00:38:03,430 popular currencies in the world, The Argentine peso. 656 00:38:04,110 --> 00:38:06,270 Compared to the dollar, it's down 98%. 657 00:38:06,350 --> 00:38:09,870 The Turkish lira 92%. The Venezuelan Bolivar 658 00:38:09,990 --> 00:38:16,110 99.999998%. The Russian rubles 6066%. 659 00:38:16,390 --> 00:38:21,350 The Brazilian real 55%. The Japanese yen 34%, Australian 660 00:38:21,350 --> 00:38:27,710 dollar 31%, Mexican peso 25%, Canadian dollar 23%, the euro 661 00:38:27,950 --> 00:38:30,730 22%. Even the Swiss Franc, which is, 662 00:38:30,730 --> 00:38:33,690 you know, known to be one of the strongest currencies on earth 663 00:38:33,690 --> 00:38:36,970 that the the Swiss are known to be extremely disciplined, it's 664 00:38:36,970 --> 00:38:40,250 still down 1.6% against the dollar. 665 00:38:40,450 --> 00:38:43,650 So I completely agree because here's here's a couple things to 666 00:38:43,650 --> 00:38:45,970 break down guys. If you live in a lot of these 667 00:38:45,970 --> 00:38:51,050 countries, like for example, Venezuela, you know, Argentina 668 00:38:51,050 --> 00:38:54,010 that now that the President Meli like, it has a really good shot 669 00:38:54,010 --> 00:38:56,330 at winning, that Javier Meli has a really good shot at winning 670 00:38:56,330 --> 00:38:58,960 the presidency. You know, he wants, he wants to 671 00:38:58,960 --> 00:39:01,560 dollarize the the country. Venezuela has been dollarized. 672 00:39:01,760 --> 00:39:05,480 But just because something has been dollarized, right, doesn't 673 00:39:05,480 --> 00:39:10,600 mean that that you could have a U.S. dollar account, right? 674 00:39:10,600 --> 00:39:13,720 Like as a Venezuelan, you can't do that. 675 00:39:13,840 --> 00:39:17,440 Like you can't do that. Look, as someone in try opening 676 00:39:17,760 --> 00:39:21,240 a bank account with U.S. dollars, it's almost impossible. 677 00:39:21,800 --> 00:39:25,320 So what's what's happened is in a lot of these countries, 678 00:39:25,320 --> 00:39:29,510 specifically the countries that have a tremendous amount of of 679 00:39:29,510 --> 00:39:34,430 inflation is that people have opted out, but they've opted out 680 00:39:34,430 --> 00:39:37,630 into stablecoins, right. So we have a lot of stablecoin 681 00:39:37,630 --> 00:39:40,550 adoption in these in the global South and these developing 682 00:39:40,550 --> 00:39:42,830 countries. Of course, a percentage of that 683 00:39:42,830 --> 00:39:45,870 is bitcoiners, but you have a lot of stablecoin adoption. 684 00:39:46,110 --> 00:39:48,750 But here's the thing guys. This is what I mentioned in the 685 00:39:48,750 --> 00:39:52,710 very beginning, stablecoins provide a false sense of 686 00:39:52,710 --> 00:39:57,210 financial sovereignty #1. Because they can be frozen, 687 00:39:57,410 --> 00:39:58,810 right? It's not your keys, not your 688 00:39:58,810 --> 00:40:00,730 Bitcoin, right? It's it, it you. 689 00:40:01,010 --> 00:40:03,330 It could be frozen. I think they will inevitably be 690 00:40:03,330 --> 00:40:05,730 coopted due to its centralization. 691 00:40:06,810 --> 00:40:09,250 And then not to mention the fact that it's still inflationary. 692 00:40:09,770 --> 00:40:12,090 Here's the rational route and he's replying. 693 00:40:12,090 --> 00:40:16,050 He quote tweeted Michael Swaler's quote posted. 694 00:40:16,050 --> 00:40:17,490 Now that's not called Twitter anymore. 695 00:40:18,410 --> 00:40:21,570 And he responded to the Michael Saylor tweet and he said this is 696 00:40:21,570 --> 00:40:23,930 insane. Especially considering the 697 00:40:23,930 --> 00:40:28,850 dollar has been devalued nearly 50% over the last 10 years. 698 00:40:29,210 --> 00:40:30,810 So I said it in the very beginning. 699 00:40:31,090 --> 00:40:38,010 Like the dollar is the smallest, less smelly pile of crap out of 700 00:40:38,210 --> 00:40:42,330 this massive pile of dinosaur poop. 701 00:40:43,010 --> 00:40:45,890 If you guys seen the movie, the Jurassic Park movie and that 702 00:40:45,890 --> 00:40:48,410 meme that was made of it, you know what I'm talking about this 703 00:40:48,410 --> 00:40:53,000 giant pile of that, that's Fiat. And then maybe, you know, the 704 00:40:53,000 --> 00:40:55,880 dollars. Just, you know, this not so, not 705 00:40:55,880 --> 00:41:02,400 as bad, but still bad, right? And now the eventuality. 706 00:41:02,400 --> 00:41:05,000 And I think what Michael Saylor was trying to really make the 707 00:41:05,000 --> 00:41:09,080 case for this right Is that it? If you've been saving in 708 00:41:09,080 --> 00:41:13,000 Bitcoin, it tells a very, very different story. 709 00:41:13,920 --> 00:41:17,320 Because Bitcoin is better money, because Bitcoin has absolute 710 00:41:17,320 --> 00:41:20,450 scarcity, because it has a cap supply, repurchasing power 711 00:41:20,450 --> 00:41:23,410 increases over time. And let's compare it. 712 00:41:23,410 --> 00:41:27,490 So we we did this comparison not too long ago, but let's compare 713 00:41:27,490 --> 00:41:30,450 it to Fiat currencies, right? So here has the US dollar. 714 00:41:30,450 --> 00:41:36,090 If you've been saving in Bitcoin on a five year scale, the dollar 715 00:41:36,090 --> 00:41:41,170 is actually 75% cheaper. On a three-year scale, the 716 00:41:41,170 --> 00:41:44,770 dollar is 30% cheaper. On a one year scale it's 27% 717 00:41:44,770 --> 00:41:50,320 cheaper. Now if the dollar is 75% 718 00:41:50,320 --> 00:41:54,120 cheaper, Can you imagine how how different these numbers would be 719 00:41:54,400 --> 00:41:57,640 for all of these people in these countries especially like 720 00:41:57,640 --> 00:42:03,320 Argentina and and and and Venezuela and Turkey like 721 00:42:03,360 --> 00:42:07,280 Bitcoin fixes this like we we we we don't say that lightly. 722 00:42:08,120 --> 00:42:13,800 Look, the euro on a on a year time scale is 20% cheaper in if 723 00:42:13,800 --> 00:42:17,000 you've been saving in Bitcoin on a three-year scale, it's 63% 724 00:42:17,000 --> 00:42:19,820 cheaper. On a five year scale it's 77% 725 00:42:19,820 --> 00:42:23,180 cheaper. The Turkish Lira, it's 94% 726 00:42:23,180 --> 00:42:26,700 cheaper if you've been saving in Bitcoin on a one year time 727 00:42:26,700 --> 00:42:28,620 scale. It's 50% cheaper if you've been 728 00:42:28,620 --> 00:42:32,060 saving in Bitcoin. If you've been saving in Bitcoin 729 00:42:32,060 --> 00:42:35,780 on a three-year time scale, the Turkish Lira is 86 percent, 88% 730 00:42:35,780 --> 00:42:39,820 cheaper. And keep in mind, Bitcoin is at 731 00:42:39,820 --> 00:42:44,220 the bottom of a bear market. It's a bottom of a bear market. 732 00:42:44,860 --> 00:42:49,660 So it's like, I get what Michael Saylor is saying, you know the 733 00:42:49,660 --> 00:42:53,340 strength of the dollar. But there's this meme down here 734 00:42:53,340 --> 00:42:57,220 by by Pax B and it says the last 10 years all currencies fall 735 00:42:57,220 --> 00:43:00,940 against USDUSD, falls against Bitcoin. 736 00:43:01,500 --> 00:43:05,060 A sane pace person would try to find the root cause. 737 00:43:05,740 --> 00:43:11,300 And here is that meme pulled up full screen and here is 2011 738 00:43:11,300 --> 00:43:12,940 before. So you could, you could surmise 739 00:43:12,940 --> 00:43:16,720 this is 2010, right. And of course the law, the 740 00:43:16,720 --> 00:43:19,320 dollar just continues to lose purchasing power against 741 00:43:19,320 --> 00:43:21,720 Bitcoin. And that's why Michael Saylor 742 00:43:21,720 --> 00:43:25,440 says it's going up forever. And that's where that mean comes 743 00:43:25,440 --> 00:43:27,560 from. Infinity divided by 21 million, 744 00:43:28,240 --> 00:43:31,840 right. So yeah, man, look, if if the 745 00:43:31,840 --> 00:43:37,600 dollar is the lifeboat for, you know, the developing world, they 746 00:43:37,600 --> 00:43:40,320 seek refuge in the dollar and that's their lifeboat. 747 00:43:40,720 --> 00:43:45,480 Well, there's a lifeboat to the lifeboat because the dollar 748 00:43:45,480 --> 00:43:51,000 lifeboat is sinking, but the Bitcoin lifeboat is just getting 749 00:43:51,000 --> 00:43:54,480 stronger by the day. So yeah, if you're in the 750 00:43:54,480 --> 00:43:56,800 developing world, because I know we have a lot of people that are 751 00:43:56,800 --> 00:44:01,440 listening to us overseas, stable coins are a false sense of 752 00:44:01,440 --> 00:44:03,920 financial sovereignty. They will not protect your 753 00:44:03,920 --> 00:44:07,000 purchasing power against Bitcoin. 754 00:44:08,320 --> 00:44:11,240 They'll protect, They'll sort of protect your purchasing power 755 00:44:11,240 --> 00:44:14,680 against your local currency. But if you truly want to protect 756 00:44:14,680 --> 00:44:18,680 your purchasing power even against the dollar, because the 757 00:44:18,680 --> 00:44:22,600 dollar is losing purchasing power, the only option is 758 00:44:22,600 --> 00:44:24,720 Bitcoin. And it also comes with the 759 00:44:24,720 --> 00:44:27,600 benefits of censorship resistance. 760 00:44:28,240 --> 00:44:30,840 And it also comes with the benefits of being able to to 761 00:44:30,880 --> 00:44:34,840 take true self custody of it without the fear of 762 00:44:35,120 --> 00:44:38,820 confiscation. Easy confiscation from the state 763 00:44:38,900 --> 00:44:42,060 or from a hostile third party. So yeah man. 764 00:44:42,860 --> 00:44:44,980 Anyways, I think Michael Sealer got it right. 765 00:44:44,980 --> 00:44:48,460 I get the point that he was trying to make, but you know, 766 00:44:48,980 --> 00:44:51,300 it's like, yeah, the dollar, it's cool. 767 00:44:52,020 --> 00:44:55,940 It's it's the coolest of the pieces of shit, but it's still 768 00:44:55,940 --> 00:44:58,580 shit. Bitcoin is the answer. 769 00:44:58,580 --> 00:45:00,980 Bitcoin is the way. Anyways, Opti, what's your take? 770 00:45:01,900 --> 00:45:05,540 Yeah, well, obviously, you know, Sats are my stable coin as the 771 00:45:05,540 --> 00:45:07,940 memes go. Stable coins are only stable 772 00:45:07,940 --> 00:45:11,340 until they are not. But it kind of goes back to what 773 00:45:11,340 --> 00:45:14,500 we always say here and and a phenomenon that we've noticed in 774 00:45:14,780 --> 00:45:18,540 the US or first world countries is like we have technically, you 775 00:45:18,540 --> 00:45:22,020 know, the best heard in the room, which is the US dollar. 776 00:45:22,020 --> 00:45:24,900 So. And it has a semblance of 777 00:45:24,900 --> 00:45:28,500 stability because a dollar equals $1.00 except for the 778 00:45:28,500 --> 00:45:32,060 purchasing power of that dollar is constantly devalued, and so 779 00:45:32,060 --> 00:45:36,360 most people don't understand. That they are losing purchasing 780 00:45:36,360 --> 00:45:38,160 power like the dollar seems stable. 781 00:45:38,560 --> 00:45:41,160 And just imagine if you're holding one of these other 782 00:45:41,160 --> 00:45:43,920 currencies that are even weaker than the US dollar, you're 783 00:45:43,920 --> 00:45:46,440 obviously going to look for an alternative. 784 00:45:46,440 --> 00:45:49,440 And it kind of goes into what we say all the time on the show is 785 00:45:49,440 --> 00:45:51,480 that most people know what the problem is. 786 00:45:51,680 --> 00:45:54,440 They just don't know that Bitcoin is the ultimate solution 787 00:45:54,680 --> 00:45:59,080 and it will eventually by steps you know, by degrees of 788 00:45:59,080 --> 00:46:03,080 magnitude, people will start to shift into Bitcoin overtime as 789 00:46:03,080 --> 00:46:06,240 they start to understand. Economic reality of the world 790 00:46:06,680 --> 00:46:09,480 and it's just reminded me of Gresham's Law. 791 00:46:09,480 --> 00:46:13,960 You know what's what's exactly? It's like bad money drives out 792 00:46:13,960 --> 00:46:18,160 good money and that's what we're seeing happening around the 793 00:46:18,160 --> 00:46:21,360 world and and it's really what we say all the time, or rather 794 00:46:21,360 --> 00:46:24,320 what I say all the time. The Bitcoin price is a real time 795 00:46:24,320 --> 00:46:27,080 metric of people's understanding of what Bitcoin is. 796 00:46:27,500 --> 00:46:31,540 And so as we see more capital flow into Bitcoin, you can kind 797 00:46:31,540 --> 00:46:34,260 of just link it in your brain to being like, oh, more people are 798 00:46:34,260 --> 00:46:37,820 understanding that Sats are the stable coin, that Bitcoin is the 799 00:46:38,100 --> 00:46:40,540 risk off asset of the world and it's something that I need to 800 00:46:40,540 --> 00:46:41,780 hold. It is the best money in the 801 00:46:41,780 --> 00:46:44,900 world. And so as these people with 802 00:46:44,900 --> 00:46:47,980 these very terrible Fiat currencies start to understand 803 00:46:47,980 --> 00:46:51,340 like, Oh yeah, first I need to dollarize, I need to hold 804 00:46:51,340 --> 00:46:53,580 dollars. Second, maybe I should hold some 805 00:46:53,580 --> 00:46:56,410 gold. And then eventually they all end 806 00:46:56,410 --> 00:46:59,530 up on the Bitcoin standard. It's like, oh wait, actually 807 00:46:59,530 --> 00:47:02,610 Bitcoin is the best money. I need to hoard that and drop 808 00:47:02,610 --> 00:47:06,090 everything else. And so of course it is a safety 809 00:47:06,090 --> 00:47:08,930 line, of course it is the safety net for everyone around the 810 00:47:08,930 --> 00:47:13,220 world and it just it really. Taps into human psychology 811 00:47:13,220 --> 00:47:16,220 because of course it's not going to happen in in like 1 giant 812 00:47:16,420 --> 00:47:19,660 swoop where people are like okay, you know, I'm a in a 813 00:47:19,660 --> 00:47:21,660 shitty currency. Let me just go all in on 814 00:47:21,660 --> 00:47:23,460 Bitcoin. There is a learning curve where 815 00:47:23,460 --> 00:47:27,420 most people need to kind of be exposed to Bitcoin, be exposed 816 00:47:27,420 --> 00:47:32,660 to the Bitcoin signal and of course like the dollar for as 817 00:47:32,660 --> 00:47:35,140 long as most of us have been alive, is the strongest 818 00:47:35,140 --> 00:47:35,900 currency. But. 819 00:47:36,260 --> 00:47:38,740 As a bitcoiner, we understand that the dollar is still just as 820 00:47:38,740 --> 00:47:41,660 bad as anything else, it just has the world reserve currency 821 00:47:41,660 --> 00:47:43,220 status. Right now it just looks the best 822 00:47:43,220 --> 00:47:46,060 in the room. Whereas as more and more people 823 00:47:46,060 --> 00:47:48,540 start to wake up to Bitcoin being the best, you know, hard 824 00:47:48,540 --> 00:47:52,100 cap, censorship resistant, holding its value through time 825 00:47:52,100 --> 00:47:55,420 and space you know instantly, being able to transport it 826 00:47:55,420 --> 00:47:58,980 across the globe, on the Internet or lightning quick. 827 00:47:59,430 --> 00:48:02,870 Like, people will wake up to the idea that Bitcoin is the best. 828 00:48:02,870 --> 00:48:06,310 And so it's not only a safety net for people in developing 829 00:48:06,310 --> 00:48:08,590 countries, it's a safety net for everyone, because we're all 830 00:48:08,590 --> 00:48:11,910 getting poorer. Every country, every government 831 00:48:11,910 --> 00:48:15,070 in the world right now is either printing money. 832 00:48:15,560 --> 00:48:19,240 Or they are using a dollar that is getting printed out of 833 00:48:19,240 --> 00:48:21,880 control. So we all have the same problem 834 00:48:21,880 --> 00:48:25,120 and it's just a matter of people understanding that they need to 835 00:48:25,120 --> 00:48:28,360 hold some Bitcoin because it's the only thing that cannot get 836 00:48:28,360 --> 00:48:31,200 debased. And again, being an American 837 00:48:31,200 --> 00:48:35,000 public school student I am, the irony has never lost on me that 838 00:48:35,000 --> 00:48:36,840 we were never taught how money works. 839 00:48:36,960 --> 00:48:42,640 And I think this is by design and just, you know, going to the 840 00:48:42,640 --> 00:48:45,320 inevitable result of this. Everyone in the world just 841 00:48:45,320 --> 00:48:48,360 doesn't understand money. And This is why, as a bitcoiner, 842 00:48:48,360 --> 00:48:51,600 we have such an asymmetric understanding of the world and 843 00:48:51,600 --> 00:48:54,720 we're way ahead of the curve. And we are on the Bitcoin 844 00:48:54,720 --> 00:48:56,360 standard so we can protect ourselves. 845 00:48:56,360 --> 00:48:59,160 And as we are protected, more and more people will look to us 846 00:48:59,160 --> 00:49:01,960 and be like, wait, how come Bitcoin is going up? 847 00:49:01,960 --> 00:49:03,680 Wait, how come you guys are holding? 848 00:49:04,370 --> 00:49:07,090 All this Bitcoin wait, how come your purchasing power isn't 849 00:49:07,090 --> 00:49:08,810 getting destroyed? How are you living a good life 850 00:49:08,810 --> 00:49:11,730 when everyone is poor and it's like this is just the inevitable 851 00:49:11,730 --> 00:49:13,610 process and the humans learn through pain? 852 00:49:13,610 --> 00:49:17,370 So if everyone's holding those melting ice cubes well, they 853 00:49:17,370 --> 00:49:19,730 will eventually look for a solution. 854 00:49:19,730 --> 00:49:23,490 And of course Bitcoin is the answer to the Fiat money 855 00:49:23,490 --> 00:49:25,890 printing problem that we all find ourselves in. 856 00:49:25,890 --> 00:49:29,050 So, you know, maybe people that have out of control currencies 857 00:49:29,050 --> 00:49:31,690 will end up on Bitcoin sooner than maybe. 858 00:49:32,000 --> 00:49:34,920 Most people in the West because we are all complacent and we're 859 00:49:34,920 --> 00:49:38,440 load to sleep, but Bitcoin is here for all of us when we're 860 00:49:38,440 --> 00:49:41,400 ready because it's the only thing that cannot get debased. 861 00:49:41,400 --> 00:49:44,040 It's the best money in the world because of these reasons that we 862 00:49:44,040 --> 00:49:46,800 always talk about 100 percent, 100%. 863 00:49:47,040 --> 00:49:49,160 All right, before we move on to the culture, I want to give a 864 00:49:49,160 --> 00:49:53,280 very special shout out to our sponsor, Kaboom Rex. 865 00:49:54,120 --> 00:49:55,960 The news is brought to you by Kaboom Racks. 866 00:49:55,960 --> 00:49:58,080 Looking for the best place to buy Bitcoin miners? 867 00:49:58,080 --> 00:50:00,960 Your answer is Kaboom Racks. That's where you're gonna get 868 00:50:00,960 --> 00:50:04,520 the top deals, the best prices They offer repair and hosting 869 00:50:04,520 --> 00:50:07,100 services all in one place. Get started. 870 00:50:07,340 --> 00:50:09,300 Check out the link in the video description. 871 00:50:09,420 --> 00:50:12,460 Launch your mining journey with Kaboom racks today. 872 00:50:12,620 --> 00:50:15,700 If you scan the QR code on your screen, it will take you 873 00:50:15,700 --> 00:50:19,100 directly to the Kaboom Racks marketplace and you'll find the 874 00:50:19,100 --> 00:50:21,940 best deals on the latest Bitcoin ASICS. 875 00:50:22,100 --> 00:50:23,500 So you definitely want to check them out. 876 00:50:23,500 --> 00:50:26,340 That's where I buy my miners. Check out Kaboom racks today. 877 00:50:26,580 --> 00:50:29,420 All right, everybody, let's move on to the culture. 878 00:50:32,740 --> 00:50:38,220 The daily Culture brought to you by Swan bitcoin.com Swan is the 879 00:50:38,220 --> 00:50:41,500 best way to build your Bitcoin stack with automated Bitcoin 880 00:50:41,500 --> 00:50:45,220 savings plans and instant purchases serving clients of any 881 00:50:45,220 --> 00:50:49,780 size from $10 to $10 million. We love Swan because they 882 00:50:49,780 --> 00:50:53,340 incentivize self custody and dollar cost averaging. 883 00:50:53,420 --> 00:50:57,460 What are you waiting for? Visit swanbitcoin.com today. 884 00:50:58,490 --> 00:51:00,490 Oh, are we are we doing Opti and Opti? 885 00:51:00,610 --> 00:51:03,290 No, no, no I'm not. Well I'm kind of ranting but not 886 00:51:03,290 --> 00:51:06,570 really ranting. Ranting like normal last week 887 00:51:07,210 --> 00:51:09,290 I'm I'm I'm reading what you guys are saying in the chat and 888 00:51:09,290 --> 00:51:11,730 I'm I'm trying to answer your guys's questions on the show and 889 00:51:11,730 --> 00:51:19,090 last week we got someone asking about like how to best have UT 890 00:51:19,090 --> 00:51:23,050 XL hygiene and consolidating UTX O's and and what they should be 891 00:51:23,050 --> 00:51:27,410 doing and of course there is no one-size-fits-all here guys and 892 00:51:27,410 --> 00:51:29,600 so. You know, I'm just kind of gonna 893 00:51:29,600 --> 00:51:33,240 give you a framework to think about this so that you can do 894 00:51:33,240 --> 00:51:35,920 what's best for yourself and you can kind of think through this 895 00:51:35,920 --> 00:51:40,080 process of what you want to do with the UTX O's that you have. 896 00:51:40,280 --> 00:51:43,120 Obviously we always recommend you take your Bitcoin off 897 00:51:43,120 --> 00:51:47,120 exchanges as soon as possible, but if you're just buying a 898 00:51:47,120 --> 00:51:49,840 small amount of Bitcoin every single day, and you'll have a 899 00:51:49,840 --> 00:51:51,960 bunch of small UTX O's and of course. 900 00:51:52,450 --> 00:51:55,250 UTXO stands for Unspent Transaction Output. 901 00:51:55,250 --> 00:51:58,130 Guys, it you I'm not gonna go into the whole details of how 902 00:51:58,130 --> 00:52:01,650 Bitcoin works in particular, maybe you guys need to do a 903 00:52:01,650 --> 00:52:04,170 little more research, but basically everything is a 904 00:52:04,570 --> 00:52:07,170 transaction, everything is a UTXO. 905 00:52:07,610 --> 00:52:11,690 And so if you are buying, I don't know say like 1-2, three 906 00:52:11,690 --> 00:52:15,100 4-5 dollars on in exchange. And then you're withdrawing that 907 00:52:15,100 --> 00:52:17,180 to your wallet. Well, you're gonna get a lot of 908 00:52:17,180 --> 00:52:20,900 these Utxos that stack up, and then you're gonna try to do some 909 00:52:20,900 --> 00:52:23,260 kind of payment, and your fees are gonna be ridiculous and 910 00:52:23,260 --> 00:52:25,260 you're gonna be like, what? Like my wallet robbed me or 911 00:52:25,260 --> 00:52:27,860 whatever. And so the best way to do this 912 00:52:27,860 --> 00:52:31,980 is obviously maybe getting some kind of threshold limit on your 913 00:52:31,980 --> 00:52:34,700 exchanges when you withdraw it to your wallet. 914 00:52:35,630 --> 00:52:39,950 So that you don't just have a bunch of ultra tiny UTX O's and 915 00:52:39,950 --> 00:52:42,710 they eventually get lost as dust. 916 00:52:42,710 --> 00:52:46,270 And so I got over here. I'm on Stack Exchange and before 917 00:52:46,310 --> 00:52:50,050 I go into too much details here. I wanted to just explain like 918 00:52:50,050 --> 00:52:54,930 what is Bitcoin dust And so here I'm gonna read this answer cuz I 919 00:52:54,930 --> 00:52:57,410 think it's one of the best answers and it kind of gives you 920 00:52:57,410 --> 00:52:58,850 the basics of what's going on here. 921 00:52:58,850 --> 00:53:02,370 So dust is often used colloquially to refer to any 922 00:53:02,370 --> 00:53:05,290 small amount. UTXL, Bitcoin Core's precise 923 00:53:05,290 --> 00:53:09,250 definition of dust, is used in mental policy to define define a 924 00:53:09,290 --> 00:53:12,050 minimum for output amounts in standard transactions. 925 00:53:12,400 --> 00:53:15,160 Bitcoin Core considers A transaction output to be dust 926 00:53:15,280 --> 00:53:18,240 when its value is lower than the cost of creating and spending it 927 00:53:18,240 --> 00:53:21,400 at the dust relay fee rate. The default value for dust relay 928 00:53:21,400 --> 00:53:25,440 fee is 3000 SAP per. I forget what kvb is. 929 00:53:26,280 --> 00:53:29,590 I think it's. Kilogram or what's it 1000 930 00:53:29,590 --> 00:53:32,790 virtual byte, which results in the same dust value as the prior 931 00:53:32,790 --> 00:53:36,470 dust definition used before Bitcoin Core .15 point OH. 932 00:53:36,750 --> 00:53:38,990 The previous dust definition tied the dust limit to the 933 00:53:38,990 --> 00:53:42,190 minimum relay transaction fee rate and the spending cost of an 934 00:53:42,190 --> 00:53:43,990 output exceeding a third of its value. 935 00:53:43,990 --> 00:53:49,630 So Dust equals input under score virtual size plus output size 936 00:53:49,630 --> 00:53:53,910 times 3 sat per byte at the default dust relay fee of 3000 937 00:53:53,910 --> 00:53:57,810 SAT. I forget what KVB is. 938 00:53:57,810 --> 00:53:59,050 Can you look that up Niko real quick? 939 00:53:59,250 --> 00:54:06,450 Given the size of a PTPKH input being 148 bytes, so P peer to 940 00:54:06,450 --> 00:54:10,730 public key hash. I have it over here being 148 941 00:54:10,730 --> 00:54:14,370 bytes and the size of a peer to public key hash output being 34 942 00:54:14,370 --> 00:54:16,650 bytes. Peer public key hash outputs 943 00:54:16,650 --> 00:54:19,690 worth less than 546. Attoshis are considered dust by 944 00:54:19,690 --> 00:54:23,730 Bitcoin Core for pay to witness public key hash. 945 00:54:23,730 --> 00:54:27,690 You can see over here. Again, pay to witness public key 946 00:54:27,690 --> 00:54:30,770 hash the output. What's it? 947 00:54:30,770 --> 00:54:33,650 Where'd it go? The considers output worth less 948 00:54:33,650 --> 00:54:36,170 than 294 sets. So what is all this saying? 949 00:54:36,170 --> 00:54:40,610 Basically it's saying if you are using traditional or legacy 950 00:54:40,610 --> 00:54:45,170 Bitcoin payments which are paid to public key, hash the ones 951 00:54:45,170 --> 00:54:48,790 that start with one. Then the dust limit is 546 952 00:54:48,790 --> 00:54:51,430 satoshi's. If you are using basically segue 953 00:54:51,430 --> 00:54:56,270 addresses which are BC1 then the dust limit is 294 sets. 954 00:54:57,110 --> 00:55:00,390 OK. That is all to basically say if 955 00:55:00,390 --> 00:55:04,830 you're making transactions on chain at 546 sets. 956 00:55:05,570 --> 00:55:08,490 Individually. Well, not only are you going to 957 00:55:08,490 --> 00:55:12,290 have to pay an extremely huge fee when you try to consolidate 958 00:55:12,290 --> 00:55:15,930 them all, but eventually those UTX O's are going to probably be 959 00:55:15,930 --> 00:55:19,290 unspendable. So the recommended idea is 960 00:55:19,290 --> 00:55:24,970 usually if you are trying to do small payments then use some 961 00:55:24,970 --> 00:55:27,690 kind of lightning wallet, maybe Wallace Satoshi, maybe phoenix, 962 00:55:27,690 --> 00:55:31,890 maybe mutiny so that you can make small payments and and do 963 00:55:31,890 --> 00:55:34,440 that quickly. And on chain is kind of 964 00:55:34,440 --> 00:55:36,760 considered more of the settlement layer. 965 00:55:36,760 --> 00:55:41,800 So you want to be doing probably bigger UTXO's on chain going 966 00:55:41,800 --> 00:55:43,640 into your wallet. So if you're coming out of like 967 00:55:43,640 --> 00:55:47,960 say Swan and you're buying a couple dollars a day, $5 a day, 968 00:55:47,960 --> 00:55:50,800 maybe you don't want to withdraw that $5 every single day. 969 00:55:50,800 --> 00:55:52,480 I think they do it like every Tuesday. 970 00:55:53,040 --> 00:55:56,680 And you might want to wait until there's a certain limit on your 971 00:55:56,680 --> 00:55:58,720 exchange. Maybe it's a million sets, maybe 972 00:55:58,720 --> 00:56:01,800 it's 500,000 sets. You know, personally, you can 973 00:56:01,800 --> 00:56:04,280 make this decision on yourself depending on how much you are 974 00:56:04,280 --> 00:56:06,360 actually buying on these exchanges. 975 00:56:06,640 --> 00:56:11,120 But the idea is, if you want some good UT XL hygiene, and 976 00:56:11,120 --> 00:56:13,560 we're telling you this now because the men pull is starting 977 00:56:13,560 --> 00:56:15,320 to clear out. I was seeing yesterday. 978 00:56:15,320 --> 00:56:20,490 We're almost back to like 8. 8 fee, 8 SAP fee rates. 979 00:56:20,490 --> 00:56:23,130 So we're getting lower and now is the time you want to be 980 00:56:23,130 --> 00:56:27,890 consolidating your UTX O's because when it gets crazy fees 981 00:56:27,890 --> 00:56:31,930 again, you might be overpaying and and This is why we tell you 982 00:56:31,930 --> 00:56:34,730 to do this stuff now when it's calm versus when it gets crazy. 983 00:56:35,610 --> 00:56:38,810 So that's just kind of the the basics of what a UTXO is and 984 00:56:38,810 --> 00:56:41,690 what the limits are. But the question we got in the 985 00:56:41,690 --> 00:56:45,130 chat was like how big should my UTX O's be? 986 00:56:45,560 --> 00:56:48,240 And obviously I don't know what your stack is. 987 00:56:48,240 --> 00:56:50,960 I don't know, you know what your personal holdings are. 988 00:56:51,280 --> 00:56:54,360 I don't know whether you've consolidated before. 989 00:56:54,360 --> 00:56:58,000 And I'm guessing that maybe you just have some Bitcoin. 990 00:56:58,000 --> 00:56:59,880 It's all in your wallet. There's a bunch of different 991 00:56:59,880 --> 00:57:02,440 sizes and and maybe you're using like blue wallet where you don't 992 00:57:02,440 --> 00:57:05,960 even know how big UTX O's are. And that's that's, you know, 993 00:57:05,960 --> 00:57:07,760 some technicals we can get into all that stuff. 994 00:57:07,760 --> 00:57:10,800 But just say you have like 1 Bitcoin. 995 00:57:11,880 --> 00:57:15,270 Say you have. One Bitcoin totaled in your 996 00:57:15,270 --> 00:57:19,790 wallet and you want to consolidate your Utxos and you 997 00:57:19,790 --> 00:57:21,670 wanna get some good UTXO hygiene? 998 00:57:22,070 --> 00:57:26,270 Well, obviously I can't really tell you exactly what to do, but 999 00:57:26,270 --> 00:57:29,290 my thinking would be. And there's there's some things 1000 00:57:29,290 --> 00:57:31,290 to to consider here. Obviously. 1001 00:57:31,290 --> 00:57:36,050 You know there's the vanity metric of like having 11 Bitcoin 1002 00:57:36,050 --> 00:57:40,090 in a UTXL so we can have that level of 1 Bitcoin in a wallet. 1003 00:57:40,090 --> 00:57:41,770 It just feels good. You're like, yeah, I got a one 1004 00:57:41,770 --> 00:57:44,210 Bitcoin UTXL in my wallet like I'm a Chad. 1005 00:57:44,690 --> 00:57:50,850 But there are there are privacy concerns with that, maybe. 1006 00:57:51,480 --> 00:57:55,400 You know you're going to be using your Bitcoin to pay like a 1007 00:57:55,400 --> 00:57:58,360 million sets here there, 10 million sets here there, and you 1008 00:57:58,360 --> 00:58:02,480 don't want to expose to everyone that you transact with that you 1009 00:58:02,480 --> 00:58:07,560 have one Bitcoin in your wallet. So if you have one Bitcoin UTX 1010 00:58:07,560 --> 00:58:11,680 O's 100 million sets, I would highly recommend that you break 1011 00:58:11,680 --> 00:58:15,360 that down into different UTXO sets if you are trying to 1012 00:58:15,360 --> 00:58:18,420 consolidate. And obviously, there's no hard 1013 00:58:18,420 --> 00:58:20,660 or fast rule here. This is kind of just something 1014 00:58:20,660 --> 00:58:22,620 you might want to do for yourself, depending on how 1015 00:58:22,620 --> 00:58:25,180 you're using your Bitcoin or whether you even care about your 1016 00:58:25,180 --> 00:58:26,900 privacy. But I'd highly recommend you 1017 00:58:26,900 --> 00:58:29,340 should care about your privacy, because you don't want to expose 1018 00:58:29,340 --> 00:58:31,420 your holdings to every single person you're transacting with 1019 00:58:31,420 --> 00:58:34,500 Bitcoin. So say we have that 100 million 1020 00:58:34,500 --> 00:58:40,020 Sats, that one Bitcoin UT XL and maybe it's just the total on 1021 00:58:40,020 --> 00:58:41,460 your wallet and you want to consolidate. 1022 00:58:41,860 --> 00:58:44,780 What I may be advised, and again this isn't a hard, fast rule, 1023 00:58:44,780 --> 00:58:46,780 this is just something to get your head to think about. 1024 00:58:47,180 --> 00:58:51,060 Maybe you can consolidate maybe like 50 million sets, do like 1025 00:58:51,060 --> 00:58:54,740 half a Bitcoin UTXO that's going to be that UTXO that you don't 1026 00:58:54,740 --> 00:58:56,940 touch, that is just there for a long term. 1027 00:58:57,100 --> 00:58:59,700 You know, you could always break off here there, use different 1028 00:58:59,700 --> 00:59:02,020 wallets that you can break off and not expose your full 1029 00:59:02,020 --> 00:59:03,980 holdings. And then you'd have, I don't 1030 00:59:03,980 --> 00:59:10,130 know, say what like. 25,000,000 SAT UTXO and two 10 million SAT 1031 00:59:10,130 --> 00:59:14,170 UTX OS and a 5 million SAT UTX OS and you breakdown these in 1032 00:59:14,170 --> 00:59:17,690 thresholds so that you remember what you want to do. 1033 00:59:17,690 --> 00:59:20,050 So like that 5 million Sats, like that's kind of like 1034 00:59:20,050 --> 00:59:22,490 whatever my checking, you know I'm going to use this, I'm going 1035 00:59:22,490 --> 00:59:26,210 to spread these Sats around. I am not really concerned about 1036 00:59:26,210 --> 00:59:28,090 showing people that I have 5 million Sats. 1037 00:59:28,130 --> 00:59:31,770 Again, with that 10 million SAT UTXO, you're going to maybe use 1038 00:59:31,770 --> 00:59:35,470 that for some bigger payments? And then you can still 1039 00:59:35,470 --> 00:59:39,670 consolidate and have like you know 25,000,500 million Sats and 1040 00:59:39,670 --> 00:59:41,910 that looks good in in your in your wallet. 1041 00:59:41,910 --> 00:59:44,470 You know, it feels good. But this is just something to 1042 00:59:44,470 --> 00:59:46,830 think about. Just remember there are some 1043 00:59:46,830 --> 00:59:49,590 concerns here. First is like why I started with 1044 00:59:49,590 --> 00:59:52,270 the desk limit. You do not want a bunch of UTX 1045 00:59:52,390 --> 00:59:56,950 OS, tiny UTX OS because for one you may not be able to spend 1046 00:59:56,950 --> 01:00:01,110 them if we get into a high fee scenario and it gets under that 1047 01:00:01,110 --> 01:00:03,470 desk limit. So you do not want to have UT. 1048 01:00:03,590 --> 01:00:08,670 UX O's that are unspendable. Second, if you go to consolidate 1049 01:00:09,270 --> 01:00:14,470 a UTXO, say you have to make like 100,000 SAT payment and you 1050 01:00:14,470 --> 01:00:19,630 have what, hundreds of tiny little thousand SAT UTX O's, 1051 01:00:19,630 --> 01:00:23,030 well, you're going to run into a really high fee and that's 1052 01:00:23,030 --> 01:00:26,030 something you want to avoid. And so and then further, the 1053 01:00:26,030 --> 01:00:28,190 last one is, is privacy concerns. 1054 01:00:28,190 --> 01:00:30,790 Do you want to expose your holdings to every single person 1055 01:00:30,790 --> 01:00:33,980 that you're transacting with? So you just got to remember 1056 01:00:33,980 --> 01:00:37,180 these things and consolidate your Bitcoin in ways that you 1057 01:00:37,180 --> 01:00:39,500 want to. It doesn't have to be perfect 1058 01:00:39,500 --> 01:00:42,180 whole round numbers. Maybe you just look into your 1059 01:00:42,180 --> 01:00:44,300 wallets. And again, some wallets don't 1060 01:00:44,420 --> 01:00:47,020 really show you your different Utxos, they just kind of add 1061 01:00:47,020 --> 01:00:50,140 them together. So maybe this is a reason why 1062 01:00:50,140 --> 01:00:52,140 you might wanna use a different wallet over another one. 1063 01:00:52,540 --> 01:00:56,820 But you just want to remember that we will be heading into a 1064 01:00:56,820 --> 01:00:58,940 high fee scenario and I'm guessing this next bull run is 1065 01:00:58,940 --> 01:01:01,300 going to get crazy. We've seen what the Wizards have 1066 01:01:01,300 --> 01:01:03,060 done to Bitcoin. We see what all the people 1067 01:01:03,060 --> 01:01:06,820 trying to have fun on Bitcoin are doing to the men pools and 1068 01:01:06,860 --> 01:01:09,740 the fees can get crazy and I don't want you guys to get 1069 01:01:09,740 --> 01:01:11,580 overcharged and then you guys freaking out. 1070 01:01:11,580 --> 01:01:15,980 Why You know Bitcoin is so expensive and and or you know 1071 01:01:15,980 --> 01:01:19,700 exposing your your UTXO holding your Bitcoin holdings to people. 1072 01:01:19,700 --> 01:01:23,600 So again, I know this isn't like a hard and fast rule, and I 1073 01:01:23,600 --> 01:01:26,440 didn't really give you like hard and fast rules on what you 1074 01:01:26,440 --> 01:01:29,840 should be doing. But I think this is just a good, 1075 01:01:30,000 --> 01:01:32,600 good mental paradigm to think about. 1076 01:01:32,960 --> 01:01:34,440 What do you want to do with your Bitcoin? 1077 01:01:34,440 --> 01:01:35,720 What are you trying to do with it? 1078 01:01:36,160 --> 01:01:37,960 What, what is your goals with Bitcoin? 1079 01:01:37,960 --> 01:01:40,000 If you're just trying to huddle some Bitcoin and you kind of 1080 01:01:40,000 --> 01:01:42,760 want a vanity metric and you want to be a part of the, you 1081 01:01:42,760 --> 01:01:46,360 know, the glass node charts of people holding one Bitcoin in 1082 01:01:46,360 --> 01:01:49,240 their wallet and be part of those numbers, you know you can 1083 01:01:49,240 --> 01:01:51,990 do that as well. But I think it's just important 1084 01:01:51,990 --> 01:01:55,750 to remember that there are these different concerns. 1085 01:01:55,750 --> 01:01:59,190 You don't want a a bunch of small little UTXO's because they 1086 01:01:59,190 --> 01:02:01,030 might not make it past the desk limit. 1087 01:02:01,710 --> 01:02:04,590 If you have a lot of small UTXO's and your fees when you 1088 01:02:04,590 --> 01:02:07,470 try to consolidate them to make payments, they're going to be 1089 01:02:07,670 --> 01:02:11,470 higher than they should be and you know, you don't want to 1090 01:02:11,470 --> 01:02:12,750 expose your holdings to everyone. 1091 01:02:12,750 --> 01:02:18,140 So again, guys, there's no hard and fast rules, but yes, like 1092 01:02:18,140 --> 01:02:20,660 Clout Casino is saying here, I've been doing you to Excel 1093 01:02:20,660 --> 01:02:23,580 Management with the fees so low and this is the time to be doing 1094 01:02:23,580 --> 01:02:25,260 it. And I'm glad that you guys are 1095 01:02:25,260 --> 01:02:27,940 asking these questions. I will follow up if there's more 1096 01:02:27,940 --> 01:02:31,950 questions in the chat, just keep asking them and as when I have 1097 01:02:31,950 --> 01:02:34,670 time to come up here and talk about the different stuff that I 1098 01:02:34,670 --> 01:02:37,670 see in the chat, I will make culture specifically so I can 1099 01:02:37,670 --> 01:02:40,510 kind of answer your question. Because if you're asking these 1100 01:02:40,510 --> 01:02:44,030 questions and it seems that more people are asking the very same 1101 01:02:44,030 --> 01:02:45,910 questions. So this is the point of the 1102 01:02:45,910 --> 01:02:47,710 show, give you guys actionable advice. 1103 01:02:47,950 --> 01:02:51,830 I know sometimes we don't get lost in the weeds because there 1104 01:02:51,830 --> 01:02:54,430 are so many new people and we do kind of get a little more 1105 01:02:54,430 --> 01:02:56,430 philosophical or geopolitical on the show. 1106 01:02:56,710 --> 01:02:59,030 But every once in a while I'll jump in with some technical 1107 01:02:59,030 --> 01:03:03,630 stuff and hopefully make sure you guys are up to speed because 1108 01:03:03,630 --> 01:03:06,430 we are getting a lot of new people on the show and our views 1109 01:03:06,430 --> 01:03:08,150 are going up. And so we're trying to get 1110 01:03:08,150 --> 01:03:11,590 everyone on the same page. But I don't know, Nico, not to 1111 01:03:11,590 --> 01:03:15,230 dox you, but what's your thoughts on different UT excel 1112 01:03:15,230 --> 01:03:17,750 sizes? Yeah, so first of all. 1113 01:03:19,260 --> 01:03:22,340 We hit 199 live viewers on YouTube, right? 1114 01:03:22,340 --> 01:03:26,700 So it's a bit of a bit of a tease. 1115 01:03:26,740 --> 01:03:30,780 I think we were like on a two week straight streak of 200 1116 01:03:30,780 --> 01:03:33,460 viewers, just on YouTube of course, like through all the 1117 01:03:33,460 --> 01:03:36,030 platforms, you know. I think Rumble right now we're 1118 01:03:36,030 --> 01:03:40,430 at a 79 live viewers, so Rumble continues to go up. 1119 01:03:40,430 --> 01:03:43,390 Holy cow, I appreciate all you guys watching make sure to smash 1120 01:03:43,390 --> 01:03:47,190 that like button, what is and of course the Twitter live stream 1121 01:03:47,190 --> 01:03:49,990 as well. What are my thoughts on UUTXO 1122 01:03:49,990 --> 01:03:52,910 consolidation. So yes, it is a high, it's a 1123 01:03:53,270 --> 01:03:57,750 highly technical, you know, highly technical discussion 1124 01:03:57,950 --> 01:04:00,110 especially for people getting into the space. 1125 01:04:01,070 --> 01:04:03,230 The way that I would like to describe it is. 1126 01:04:03,740 --> 01:04:07,740 When you take self custody of your money, it not only are you 1127 01:04:07,740 --> 01:04:12,980 taking personal responsibility of of not only are you taking 1128 01:04:12,980 --> 01:04:16,740 personal responsibility of the custody of your wealth, but it 1129 01:04:16,740 --> 01:04:18,820 comes with also other responsibilities. 1130 01:04:18,820 --> 01:04:23,140 So if you don't consolidate and let's say you would draw from 1131 01:04:23,140 --> 01:04:26,260 Swan, which by the way has free withdrawals, right, So you don't 1132 01:04:26,260 --> 01:04:29,580 have to pay a fee or you withdraw from strike, I think 1133 01:04:29,580 --> 01:04:31,620 they also have they offer free withdrawals as well. 1134 01:04:33,220 --> 01:04:35,660 And let's say you withdraw every time you have like 10 bucks or 1135 01:04:35,660 --> 01:04:37,860 something. You're going to send that to a 1136 01:04:37,860 --> 01:04:40,340 new address every time by default, right? 1137 01:04:41,180 --> 01:04:46,300 If you're doing it correctly. And because every time your 1138 01:04:46,300 --> 01:04:50,580 wallet or let's say you, you use like blue wallet on your phone 1139 01:04:51,100 --> 01:04:56,100 and you put receive, as soon as that wallet receives Bitcoin, 1140 01:04:56,100 --> 01:04:59,300 blue wallet will move on to the next address, right? 1141 01:04:59,660 --> 01:05:02,920 And if you're sending Bitcoin? To a new address every single 1142 01:05:02,920 --> 01:05:04,800 time. And let's say it's like 10 bucks 1143 01:05:04,800 --> 01:05:09,640 every single time, you will have to pay a fee to move that 1144 01:05:09,640 --> 01:05:12,640 Bitcoin if it's coming from different addresses. 1145 01:05:13,240 --> 01:05:16,040 So what you want to do, right, it's in the name, you want to 1146 01:05:16,040 --> 01:05:18,960 consolidate it. So you want to, instead of 1147 01:05:18,960 --> 01:05:22,560 sending, you know, $10 every single time to a new address, 1148 01:05:22,840 --> 01:05:27,600 maybe wait until you have $500.00 or $1000 and then send 1149 01:05:27,600 --> 01:05:31,510 it to that one address, right? So then when the time comes that 1150 01:05:31,510 --> 01:05:36,590 you have to spend your Bitcoin, right, you pay less of a fee. 1151 01:05:37,070 --> 01:05:39,830 I understand that, you know, we're more of an entertainment 1152 01:05:39,830 --> 01:05:40,470 channel. We don't. 1153 01:05:40,470 --> 01:05:42,350 We usually go into the technical weeds. 1154 01:05:42,510 --> 01:05:45,590 But this is a good discussion. And this is all this all kind of 1155 01:05:45,590 --> 01:05:50,710 comes with, with the personal responsibility of Bitcoin. 1156 01:05:51,070 --> 01:05:53,990 Now there's there's one no, I was just going to answer this 1157 01:05:53,990 --> 01:05:55,030 question. I thought we were going to go 1158 01:05:55,030 --> 01:05:57,710 into the mean review, but you continue Nika. 1159 01:05:58,110 --> 01:06:02,150 Yeah, So and then one thing I also wanted to tell you guys is, 1160 01:06:02,190 --> 01:06:04,870 you know a lot of people are not aware of this is hardware 1161 01:06:04,870 --> 01:06:08,110 wallets have limits. They have, they have physical 1162 01:06:08,110 --> 01:06:11,670 hardware limits. Meaning if and this happened to 1163 01:06:11,670 --> 01:06:15,110 me, like I've learned this from experience where let's say you 1164 01:06:15,110 --> 01:06:17,790 don't consolidate and see this happen 1000 times, right? 1165 01:06:17,790 --> 01:06:19,830 You don't consolidate, you're just new to Bitcoin. 1166 01:06:20,430 --> 01:06:23,710 And you have your little treasure, your, your Ledger or 1167 01:06:23,710 --> 01:06:26,430 whatever, you know now the hard way hardware wallets nowadays 1168 01:06:26,430 --> 01:06:29,470 like the Passport, like these are bad boys and they they have 1169 01:06:29,470 --> 01:06:33,790 the hardware capacity to sign a lot of transactions all at once, 1170 01:06:33,790 --> 01:06:35,990 right? But they're limited. 1171 01:06:35,990 --> 01:06:39,350 There's a there's a certain limit to how many they could 1172 01:06:39,350 --> 01:06:42,870 sign. Like the Ledger you know, try 1173 01:06:42,870 --> 01:06:47,150 signing 20 transactions at the same time from 20 different 1174 01:06:47,150 --> 01:06:49,630 actresses trying to consolidate into one address. 1175 01:06:50,180 --> 01:06:52,700 It's going to take a long time and you're going to look at your 1176 01:06:52,700 --> 01:06:55,060 hardware wallet and you'll be like hole is this thing frozen? 1177 01:06:55,060 --> 01:06:57,060 Like what happened? It's a little bit of a spook, 1178 01:06:57,060 --> 01:06:59,820 right? So you know, it's best practice 1179 01:06:59,820 --> 01:07:02,180 to consolidate every once in a while. 1180 01:07:02,900 --> 01:07:06,100 In terms of privacy, I know that you mentioned that. 1181 01:07:06,980 --> 01:07:09,220 I don't think it's that big of a deal, especially if you run your 1182 01:07:09,220 --> 01:07:12,020 own node. If you don't run your own node, 1183 01:07:12,020 --> 01:07:17,100 you you are daxing, you know. You are basically doxing your 1184 01:07:17,100 --> 01:07:19,340 balances to whoever's running that node. 1185 01:07:19,340 --> 01:07:21,460 You can even make the argument that you're doxing your IP 1186 01:07:21,460 --> 01:07:24,020 address as well, right? So you definitely want to run 1187 01:07:24,020 --> 01:07:26,980 your own node. What I run is the, you know, the 1188 01:07:26,980 --> 01:07:29,220 start 9 pier, the they have different tiers. 1189 01:07:29,220 --> 01:07:31,300 I run the highest tier. I highly recommend it. 1190 01:07:31,620 --> 01:07:33,580 It's an absolute beast of a machine. 1191 01:07:33,980 --> 01:07:40,840 I think I'm Uncle Jimmy Gnopti. So yeah man, consolidate every 1192 01:07:40,840 --> 01:07:44,040 once in a while. I know that it's a complex 1193 01:07:44,040 --> 01:07:46,240 topic. I highly suggest checking out 1194 01:07:46,240 --> 01:07:48,480 BTC sessions. I'm absolutely sure he's made a 1195 01:07:48,480 --> 01:07:52,520 tutorial about this and if you guys wanna see, go into the 1196 01:07:52,520 --> 01:07:55,910 nitty gritty of it. And run your own note like it. 1197 01:07:55,910 --> 01:07:58,990 You know, like this is all part of the Bitcoin rabbit hole. 1198 01:07:59,190 --> 01:08:01,150 You know, we made it, see, we made it sound. 1199 01:08:01,150 --> 01:08:03,390 We make it sound so simple every single day. 1200 01:08:03,390 --> 01:08:06,390 Cuz I really believe we're at more top of a funnel show 1201 01:08:06,870 --> 01:08:08,630 because we're more entertain and based. 1202 01:08:09,030 --> 01:08:13,510 But yes, the the self custody rabbit hole goes very deep. 1203 01:08:13,870 --> 01:08:15,710 You could start talking about multi cig. 1204 01:08:15,710 --> 01:08:18,350 You could start talking about geographically separating your 1205 01:08:18,350 --> 01:08:22,029 multi cig, right? Self custody becomes a a more 1206 01:08:22,029 --> 01:08:28,430 complex technical topic because you start to think about how 1207 01:08:28,430 --> 01:08:31,550 you're storing your Bitcoin if you start having a considerable 1208 01:08:31,550 --> 01:08:34,149 amount of Bitcoin. OK, how am I going to protect 1209 01:08:34,149 --> 01:08:36,430 myself from a $5 wrench attack, right? 1210 01:08:36,630 --> 01:08:39,470 Oh, I'm going to use multi cig. I'm going to separate my seeds 1211 01:08:39,710 --> 01:08:41,910 in different locations. OK, what if I don't have the 1212 01:08:41,910 --> 01:08:45,840 technical know how? To to set this up, what if I 1213 01:08:45,840 --> 01:08:48,200 don't trust myself holding all the keys? 1214 01:08:48,200 --> 01:08:50,359 So there then there's collaborative custody models 1215 01:08:50,359 --> 01:08:54,279 like that's offered that's offered by Casa. 1216 01:08:54,279 --> 01:08:57,960 It's offered by Nunchuck Swan is is working on something. 1217 01:08:59,160 --> 01:09:03,399 So an Unchained, of course, offers collaborative custody 1218 01:09:03,399 --> 01:09:06,640 where they hold one key out of the two of three and you hold 1219 01:09:06,640 --> 01:09:07,939 two of them. Right. 1220 01:09:08,500 --> 01:09:12,300 So there's there's so many different you know we don't call 1221 01:09:12,300 --> 01:09:15,460 the Bitcoin rabbit hole for no reason is definitely good 1222 01:09:15,460 --> 01:09:22,020 practice to to consolidate your UTXO's every once in a while. 1223 01:09:22,020 --> 01:09:23,540 That's something I definitely do. 1224 01:09:23,540 --> 01:09:27,620 You get into the habit of it. But it all comes with taking 1225 01:09:27,620 --> 01:09:29,740 personal responsibility of your money, right. 1226 01:09:30,260 --> 01:09:33,620 The reason that this the complexity of this has been 1227 01:09:33,620 --> 01:09:36,100 removed. From a lot of people's lives is 1228 01:09:36,100 --> 01:09:38,859 because they've outsourced that personal responsibility to a 1229 01:09:38,859 --> 01:09:42,380 bank, right? Or to you know, or to however 1230 01:09:42,380 --> 01:09:45,140 which way you do it. But let's say you're holding 1231 01:09:45,140 --> 01:09:47,660 physical gold bars and you are taking self custody of those 1232 01:09:47,660 --> 01:09:49,779 physical gold bars. You're stacking them in a 1233 01:09:49,779 --> 01:09:51,779 certain way, right? To organize them. 1234 01:09:51,779 --> 01:09:53,420 You know, you're you're keeping them organized. 1235 01:09:53,420 --> 01:09:55,100 You're not just spreading them all over. 1236 01:09:55,460 --> 01:09:57,380 You know you're safe. You I'm sure you're stacking 1237 01:09:57,380 --> 01:09:59,380 them in a certain way and you're, you know, you're 1238 01:09:59,380 --> 01:10:01,220 organizing them in a certain way. 1239 01:10:02,180 --> 01:10:06,340 It's in like that would be like the best physical example. 1240 01:10:06,380 --> 01:10:08,300 Yeah, I was just gonna say that's such a good example. 1241 01:10:08,300 --> 01:10:12,260 Like, you know, kilo, like a big brick bar of gold. 1242 01:10:12,380 --> 01:10:14,380 Yeah. Would be your big UTX OS and you 1243 01:10:14,380 --> 01:10:18,300 have little oz and you know you have some gold coins and like 1244 01:10:18,300 --> 01:10:20,940 that's kind of how you should think of it in in a physical, 1245 01:10:21,260 --> 01:10:23,740 physical sense of what you're trying to do with your UTX OS. 1246 01:10:23,900 --> 01:10:26,900 Exactly, except this time you don't have to melt the gold, so 1247 01:10:26,980 --> 01:10:29,180 just consolidate into one big bar. 1248 01:10:29,180 --> 01:10:31,660 It's just a transaction. It's just a transaction to make. 1249 01:10:31,780 --> 01:10:33,940 It easy, but yes, it is definitely good hygiene. 1250 01:10:34,460 --> 01:10:37,340 I definitely recommend it. I didn't know we were going to 1251 01:10:37,340 --> 01:10:39,060 get technical, but we could do technical. 1252 01:10:39,060 --> 01:10:40,940 That's fine. A little little technical. 1253 01:10:40,940 --> 01:10:43,700 Anyways, one more thing, because unless you're you're continuing 1254 01:10:43,700 --> 01:10:45,340 to get. Yeah, if you guys get lost in 1255 01:10:45,340 --> 01:10:48,100 the sauce with this and you guys are totally new to this and I 1256 01:10:48,100 --> 01:10:49,540 get it. You know, you guys tuned in for 1257 01:10:49,540 --> 01:10:51,860 the, you know, entertainment and the news and all that stuff and 1258 01:10:51,860 --> 01:10:53,740 you guys are like, what the F are these people talking about? 1259 01:10:53,740 --> 01:10:58,100 Check out BTC sessions. Yeah, I'm 99% sure he's made a 1260 01:10:58,100 --> 01:11:01,660 tutorial on consolidating your Bitcoin Utxos. 1261 01:11:01,820 --> 01:11:03,540 All right, I just want to get to this question. 1262 01:11:03,540 --> 01:11:08,180 I Robert, I'm not fully sure what the question is per se, but 1263 01:11:08,180 --> 01:11:11,580 you say what I don't know is if I use my core wallet associated 1264 01:11:11,580 --> 01:11:16,780 with my node, do I Payless fees? No, no, it's just like the fees 1265 01:11:16,780 --> 01:11:20,620 are dependent on what the what your man pool is reading and 1266 01:11:20,620 --> 01:11:24,140 then also how many UTX OS you're consolidating into one 1267 01:11:24,140 --> 01:11:26,300 transaction. There's a certain amount of 1268 01:11:26,300 --> 01:11:28,860 stats that you will have to pay based on any transaction. 1269 01:11:28,860 --> 01:11:31,700 There's a baseline and and I'm losing it off the top of my head 1270 01:11:31,700 --> 01:11:34,860 right now. The next one is Johnny Rico. 1271 01:11:34,860 --> 01:11:37,900 He says I'm just not going to worry about UTXO management, cuz 1272 01:11:37,900 --> 01:11:39,620 I'm never. Selling You totally should. 1273 01:11:39,740 --> 01:11:42,460 Yeah, exactly. You will need to worry about 1274 01:11:42,460 --> 01:11:45,500 this eventually and now's the time while we're in this low fee 1275 01:11:45,500 --> 01:11:48,460 environment. Sparrow, Sparrow, the more 1276 01:11:48,460 --> 01:11:52,500 technical wallets like Sparrow, Electrom, Spectre, they'll make 1277 01:11:52,500 --> 01:11:53,540 it. They'll list out. 1278 01:11:53,700 --> 01:11:58,140 They'll list it out for you, what addresses have how, how 1279 01:11:58,140 --> 01:12:01,060 much coins on them. And you know you can choose an 1280 01:12:01,060 --> 01:12:04,620 option to consolidate by picking all the coins from a certain 1281 01:12:04,620 --> 01:12:06,980 address and consolidating to 1 address. 1282 01:12:07,180 --> 01:12:10,380 And then also KYC non KYC concerns as well. 1283 01:12:10,380 --> 01:12:13,660 Don't call it consolidate those if you have been coin joining 1284 01:12:13,660 --> 01:12:16,740 coins, because then you're just kind of wasting money. 1285 01:12:17,180 --> 01:12:20,780 Another one, Opti says advice plans to do test transactions 1286 01:12:20,780 --> 01:12:23,340 before actually doing it. Always, always, always do test 1287 01:12:23,340 --> 01:12:26,900 transactions guys, because don't send all your Bitcoin at once 1288 01:12:26,980 --> 01:12:29,140 and wrecking yourself. And then last thing before we 1289 01:12:29,140 --> 01:12:30,780 move on. Hammer Saw is right. 1290 01:12:31,020 --> 01:12:34,140 Yeah, Bitcoin technical scare the shit out of newcomers. 1291 01:12:36,380 --> 01:12:42,160 At this point. At this point I you you still 1292 01:12:42,160 --> 01:12:43,800 test address. I don't care at this. 1293 01:12:43,880 --> 01:12:46,680 I'm so used to. I test only when I move to a new 1294 01:12:46,680 --> 01:12:48,640 wallet. Like if I'm if I'm moving to new 1295 01:12:48,640 --> 01:12:51,720 wallet with an I test transaction with 100% I'll do 1296 01:12:51,720 --> 01:12:57,140 that but usually I I it's probably bad but like I I just 1297 01:12:57,140 --> 01:13:01,100 barely I, you know barely verify that dress I. 1298 01:13:01,740 --> 01:13:04,860 Like, yeah, I copy and paste. I didn't even type it in like 1299 01:13:04,860 --> 01:13:05,980 we're good to go. Yeah. 1300 01:13:05,980 --> 01:13:08,220 And and then someone brings up a good point, which is Michael 1301 01:13:08,220 --> 01:13:11,220 Blast, which is Andreas Antonopoulos talks about it. 1302 01:13:11,220 --> 01:13:13,820 Yes, Andreas is a legend. That's one of the people that 1303 01:13:13,820 --> 01:13:16,220 originally orange filled me, him and Max Kaiser. 1304 01:13:17,190 --> 01:13:19,150 Taking custody of your Bitcoin. Is life changing? 1305 01:13:19,270 --> 01:13:20,950 Absolutely. And then going back to one of 1306 01:13:20,950 --> 01:13:23,230 the one of the earlier questions and then we'll move on to the 1307 01:13:23,230 --> 01:13:24,830 meme review. I know we're running a little 1308 01:13:24,830 --> 01:13:26,510 bit long today, but it is the Friday show. 1309 01:13:26,510 --> 01:13:28,510 So it is. This is the Friday special and 1310 01:13:28,510 --> 01:13:30,790 we broke 200. So that makes me very happy 1311 01:13:31,710 --> 01:13:36,230 about the idea that you'll pay less fees if you know you're 1312 01:13:36,230 --> 01:13:37,550 running your own node. No. 1313 01:13:37,750 --> 01:13:42,030 So the only thing running your own node is it's essentially if 1314 01:13:42,030 --> 01:13:43,430 you if you don't use your own node. 1315 01:13:44,060 --> 01:13:46,460 But you're trusting someone else's copy of the blockchain, 1316 01:13:46,580 --> 01:13:48,580 right? So essentially you're asking 1317 01:13:48,580 --> 01:13:53,420 someone else's computer, hey, what is the current state of the 1318 01:13:53,420 --> 01:13:57,060 Bitcoin Ledger? I own these addresses. 1319 01:13:57,060 --> 01:14:01,420 I wanna know, you know, how much Bitcoin are in these addresses. 1320 01:14:01,420 --> 01:14:03,780 Please let me know. And you're asking someone else's 1321 01:14:03,780 --> 01:14:07,420 computer by doing that. You're daxing yourself, right? 1322 01:14:07,620 --> 01:14:11,380 So if you not only are you are you daxing yourself, but you're 1323 01:14:11,380 --> 01:14:14,740 also trusting that other computer that they're not lying 1324 01:14:14,740 --> 01:14:16,820 to you, right? Of course, you know that 1325 01:14:16,820 --> 01:14:19,340 generally tends to not happen, but theoretically it could 1326 01:14:19,340 --> 01:14:23,620 happen. So best practices to trust, 1327 01:14:23,620 --> 01:14:27,500 minimize, trust your own copy of the Bitcoin blockchain, trust 1328 01:14:27,500 --> 01:14:31,100 your own version of the of the Bitcoin software and when you 1329 01:14:31,100 --> 01:14:34,260 broadcast a transaction, especially if it's going through 1330 01:14:34,260 --> 01:14:38,180 Tor, right? Your IP address isn't getting 1331 01:14:38,180 --> 01:14:41,900 docs whatsoever like that. That thing is just getting, you 1332 01:14:41,900 --> 01:14:46,700 know, broadcasted throughout the world kind of anonymous and no 1333 01:14:46,700 --> 01:14:48,380 one, no one knows where it's coming from. 1334 01:14:48,380 --> 01:14:50,700 So best practices is to run your own node. 1335 01:14:51,220 --> 01:14:54,020 You could build one, you can buy one premade. 1336 01:14:54,340 --> 01:14:57,460 Highly suggest start nine. They got different levels to, 1337 01:14:57,780 --> 01:15:00,140 you know, an entry level, midtier level. 1338 01:15:00,560 --> 01:15:03,640 The the pure, the badass. Like, I think it's like a Core 1339 01:15:03,640 --> 01:15:07,880 i7 or Core I9 like hardcore computer just dedicated to 1340 01:15:07,880 --> 01:15:11,440 running a bunch of other you know, not only Bitcoin Core and 1341 01:15:11,440 --> 01:15:15,480 the Electron server, but a bunch of other cool softwares as well. 1342 01:15:15,760 --> 01:15:18,880 Anyways, and wait, last thing we said, this isn't simply Bitcoin. 1343 01:15:18,880 --> 01:15:21,120 Yeah, this is this is complicated Bitcoin. 1344 01:15:21,280 --> 01:15:24,160 This is a technical Bitcoin, but last thing. 1345 01:15:24,160 --> 01:15:26,760 Technical Bitcoin Fridays. Yeah, yeah, maybe. 1346 01:15:26,760 --> 01:15:28,760 That's a new thing. Last thing I want to say, guys 1347 01:15:28,760 --> 01:15:31,560 like, I know, I know. Like Nico said, this is top of 1348 01:15:31,560 --> 01:15:33,560 the funnel. So we're trying to get the 1349 01:15:33,560 --> 01:15:36,160 newbies to understand exactly what they're doing. 1350 01:15:36,360 --> 01:15:39,560 But as you do a little more deep dives into this stuff like this 1351 01:15:39,560 --> 01:15:42,080 becomes second nature and you won't even think about it. 1352 01:15:42,160 --> 01:15:45,760 It's super simple after you understand the concept. 1353 01:15:45,760 --> 01:15:49,560 So we're just trying to help you along A. 100 percent, 100%, 1354 01:15:49,560 --> 01:15:52,160 Yeah. So just keep that in mind guys, 1355 01:15:52,160 --> 01:15:56,100 right? It seems complicated. 1356 01:15:56,100 --> 01:15:58,460 Think about the matrix analogy that I gave you guys in the 1357 01:15:58,460 --> 01:16:00,660 beginning, right? I didn't say that analogy 1358 01:16:00,660 --> 01:16:03,900 lightly. Once you understand this stuff, 1359 01:16:03,940 --> 01:16:06,700 it becomes a lot easier than banking. 1360 01:16:06,700 --> 01:16:10,060 I swear to God, I promise you it is a lot less complicated. 1361 01:16:10,340 --> 01:16:14,740 It just seems daunting initially because you know you're used to 1362 01:16:14,740 --> 01:16:18,020 the Fiat matrix, right? Anyways, everybody, let's go 1363 01:16:18,020 --> 01:16:20,260 down to the memes. We got a lot of memes to review. 1364 01:16:20,260 --> 01:16:31,520 Let's check it out. The Daily Meme Review Yeah. 1365 01:16:31,520 --> 01:16:35,400 Simply complicated, yeah? Straight up, bro, I didn't know 1366 01:16:35,400 --> 01:16:37,770 you're gonna pull this. Well, they were. 1367 01:16:37,810 --> 01:16:40,610 Asking about it, didn't even know you can cover complex 1368 01:16:40,610 --> 01:16:43,050 topics. Yeah, did I try to keep it as? 1369 01:16:44,130 --> 01:16:47,010 Simple as possible, but now people were asking about it and 1370 01:16:47,010 --> 01:16:49,050 and again back. It's back to the same thing. 1371 01:16:49,050 --> 01:16:52,130 If if we have one person asking about it in the chat then 1372 01:16:52,130 --> 01:16:54,050 there's got to be more people that are wondering the same 1373 01:16:54,050 --> 01:16:55,050 thing. They're just doing that. 1374 01:16:55,050 --> 01:16:58,970 Like I am too afraid to ask me. Anyways, you already know the 1375 01:16:58,970 --> 01:17:00,610 deal. This is the beam review where 1376 01:17:00,610 --> 01:17:04,050 you tag me on Twitter at simply Bitcoin TV or my personal 1377 01:17:04,050 --> 01:17:07,470 account at Optimist Fields. Tag your favorite memes. 1378 01:17:07,470 --> 01:17:09,990 Meme tag your own meme. I don't care. 1379 01:17:09,990 --> 01:17:13,670 I just want memes guys. And of course you can drop them 1380 01:17:13,670 --> 01:17:17,270 in our telegram group T dot me slash simply Bitcoin TV. 1381 01:17:17,910 --> 01:17:20,350 I look at those every morning as well. 1382 01:17:20,350 --> 01:17:22,390 We broke 1000. We have a bunch of people in 1383 01:17:22,390 --> 01:17:25,270 there as you guys know. You guys are the frontline 1384 01:17:25,270 --> 01:17:27,390 soldiers. We are in an information war. 1385 01:17:27,590 --> 01:17:30,550 Tweets of the bullets memes of their artillery continue to get 1386 01:17:30,550 --> 01:17:33,390 the calls of action out there. Continue to ridicule the 1387 01:17:33,390 --> 01:17:36,310 corporate press. Continue to make the funnies to 1388 01:17:36,310 --> 01:17:38,670 keep your friends heads in the game. 1389 01:17:38,830 --> 01:17:41,790 Anyways, the 1st meme is by the BTC therapist and he goes 1390 01:17:41,790 --> 01:17:43,950 hashtag. Bitcoin is programmed to go up 1391 01:17:44,390 --> 01:17:47,350 and it's a simple question. It goes, Are you bullish yet 1392 01:17:47,350 --> 01:17:51,510 with the Bitcoin logo? And I'm guessing these are all 1393 01:17:51,510 --> 01:17:58,150 of the old cycles. So we have the first one and 1394 01:17:58,150 --> 01:18:03,240 what was it 2011, 2020, 10 cycle and it's it's not it's in the 1395 01:18:03,480 --> 01:18:06,480 it's in linear chart. So it's not log chart but I 1396 01:18:06,480 --> 01:18:08,280 can't wait till the God candles come back. 1397 01:18:08,480 --> 01:18:13,280 Anyways, you can see here here is the crab market, we'll call 1398 01:18:13,280 --> 01:18:17,920 it crab market 365 days and then it finally went nuclear and it 1399 01:18:17,920 --> 01:18:20,600 just going straight up we're going to get those one day again 1400 01:18:20,880 --> 01:18:25,040 and then the next one 539 days crab market and then it starts 1401 01:18:25,040 --> 01:18:29,440 going nuclear 518 days and then it starts getting nuclear. 1402 01:18:29,720 --> 01:18:34,710 Well, here we are at 532 days and we have yet to go nuclear 1403 01:18:34,870 --> 01:18:36,510 and we have yet to break that all time high. 1404 01:18:36,510 --> 01:18:40,710 So we're going to crab which means you can stack but one day 1405 01:18:40,710 --> 01:18:45,150 soon we will be getting the God candles on the linear chart and 1406 01:18:45,150 --> 01:18:46,110 I'm here for it. OK. 1407 01:18:46,150 --> 01:18:50,550 This next one is by Ludacris Speed aka Mach 9D. 1408 01:18:50,790 --> 01:18:54,510 And we got the news yesterday we've been covering or actually 1409 01:18:54,670 --> 01:18:59,680 we covered Gary Gensler getting absolutely grilled yesterday and 1410 01:18:59,680 --> 01:19:03,640 then after the show we got the ruling or the decision that the 1411 01:19:03,640 --> 01:19:06,520 Black Black Rock Spot Bitcoin ETF decision was delayed. 1412 01:19:06,520 --> 01:19:10,760 So we're like there's one more in next month October I think it 1413 01:19:10,760 --> 01:19:13,960 was the 17th ish around there where we'll get one more 1414 01:19:13,960 --> 01:19:17,320 decision on the deadline. It's looking like we're not 1415 01:19:17,320 --> 01:19:19,920 going to see it until 2024 at the earliest. 1416 01:19:19,920 --> 01:19:22,720 Anyways Ludacris speed dropped a meme here and it's Larry Fink 1417 01:19:22,720 --> 01:19:26,160 and he goes, Gary, they keep front running us keep delaying 1418 01:19:26,160 --> 01:19:28,840 the spot Bitcoin ETF so we can stack our bags. 1419 01:19:28,840 --> 01:19:34,160 You guys know the playbook bud. Bitcoin stack your bags embrace 1420 01:19:34,160 --> 01:19:38,360 Bitcoin profit. All right. 1421 01:19:38,360 --> 01:19:41,580 This next one is by our boy run the banks AKA at empty under 1422 01:19:41,580 --> 01:19:43,640 score banks. And he goes, good morning and we 1423 01:19:43,640 --> 01:19:45,680 got Leota here. I'm pretty sure they're good 1424 01:19:45,680 --> 01:19:49,490 fellas and he goes as far back as I can remember. 1425 01:19:49,490 --> 01:19:53,650 I've never seen a Bitcoin cycle as dumb as this one is the 1426 01:19:53,650 --> 01:19:55,170 sentiment on Twitter. Man. 1427 01:19:55,170 --> 01:19:57,050 Everyone is going after each other. 1428 01:19:57,770 --> 01:20:00,610 Everyone's going full regarded on Twitter. 1429 01:20:01,250 --> 01:20:02,730 This is just part of bear market things. 1430 01:20:02,730 --> 01:20:04,970 You can tell we are in the depths of the bear market by the 1431 01:20:04,970 --> 01:20:08,090 sentiment on Twitter. Anyways, next meme is by Rd. 1432 01:20:08,090 --> 01:20:10,530 under score BTC and I absolutely love this one bro. 1433 01:20:10,530 --> 01:20:14,690 I I think this is such good framing and like I've known this 1434 01:20:14,690 --> 01:20:17,530 inherently. Intrinsically, if I could use 1435 01:20:17,530 --> 01:20:21,410 those words, but it I just I've never used this meme on someone 1436 01:20:21,410 --> 01:20:23,690 and I think this is a great one. I'm going to be dunking on 1437 01:20:23,690 --> 01:20:26,450 people all the time anyways. He just goes hilarious with some 1438 01:20:26,450 --> 01:20:29,170 laughing emoji, he goes hashtag, feed out money, hashtag Bitcoin 1439 01:20:29,610 --> 01:20:32,890 and it goes to them. Bitcoin has no intrinsic value. 1440 01:20:33,050 --> 01:20:36,050 Me and you think paper money does LOL. 1441 01:20:36,170 --> 01:20:39,450 And you got a person, a little kid sitting here with a stack of 1442 01:20:39,450 --> 01:20:42,570 paper laughing, Oh man, it's such a good one. 1443 01:20:42,570 --> 01:20:46,410 Anytime people tell you Bitcoin has no intrinsic value, pull out 1444 01:20:46,410 --> 01:20:48,530 some paper money and you're like, and you think this does 1445 01:20:48,530 --> 01:20:51,210 you literally believe in fairy tales that this paper money has 1446 01:20:51,210 --> 01:20:54,370 value. And on that point, you know, 1447 01:20:54,370 --> 01:20:57,410 sometimes you just got to meme yourself, put yourself in memes. 1448 01:20:57,410 --> 01:21:01,410 And Max Kaiser here just drops literally the meme that is all 1449 01:21:01,410 --> 01:21:04,570 of us. We got a MPC Wojack crying and 1450 01:21:04,570 --> 01:21:07,170 goes, everyone in crypto hates Bitcoin maxi. 1451 01:21:07,170 --> 01:21:09,650 Then maybe there is something wrong with you and not something 1452 01:21:09,650 --> 01:21:11,890 wrong with everyone else. And then we got a picture of 1453 01:21:11,890 --> 01:21:13,930 here. Max Kaiser, smiling, goes, if 1454 01:21:13,930 --> 01:21:16,650 you're a Bitcoin maximus, you know you're a hated figure 1455 01:21:16,650 --> 01:21:19,290 because nobody wants to face the fact that they've been dead 1456 01:21:19,290 --> 01:21:23,090 wrong their whole lives about something so basic as money 1457 01:21:23,970 --> 01:21:26,570 bars. OK, next one is by Wojack 1458 01:21:26,570 --> 01:21:29,780 Bitcoin, he goes. Literally, me and we got the 1459 01:21:30,140 --> 01:21:31,860 stressed out, dying woe Jack here. 1460 01:21:31,860 --> 01:21:33,980 And it goes. I will have enough Bitcoin when 1461 01:21:33,980 --> 01:21:36,740 I reach my goal amount. And then we got the Woe Jack. 1462 01:21:36,740 --> 01:21:39,380 Laser eyed Bitcoin, it goes. Reaching my goal amount only 1463 01:21:39,380 --> 01:21:42,100 made me want more Bitcoin. This is a vicious cycle. 1464 01:21:42,260 --> 01:21:44,980 You're like, I'll be good once I meet my goals and then you meet 1465 01:21:44,980 --> 01:21:47,980 your goals and you're like wait, I can stack more. 1466 01:21:48,020 --> 01:21:50,900 Why am I going to take my gas off the my foot off the gas. 1467 01:21:50,900 --> 01:21:53,340 All right, Nico, this next one you asked for this one. 1468 01:21:53,340 --> 01:21:56,090 All right, You literally asked for this one at the beginning of 1469 01:21:56,090 --> 01:21:58,970 the show. So if we got to censor him, 1470 01:21:59,050 --> 01:22:02,730 we'll censor him. But an Opti Chrissy Lagarde 1471 01:22:02,730 --> 01:22:05,570 praying mantis meme, and it's Copernic as he goes ask and ye 1472 01:22:05,570 --> 01:22:08,050 shall receive. Chrissy, Brian told me you're 1473 01:22:08,050 --> 01:22:10,810 into choke play now come over here, baby, And it's me 1474 01:22:10,810 --> 01:22:13,730 attacking the Chrissy Lagarde Praying mantis. 1475 01:22:13,730 --> 01:22:17,960 Could you like that? Oh man, there you go bro. 1476 01:22:17,960 --> 01:22:22,000 Your dream just came. You just you just manifested 1477 01:22:22,000 --> 01:22:25,280 your dream into reality, which is absolutely hilarious. 1478 01:22:25,280 --> 01:22:26,520 Dude. That was literally my dream 1479 01:22:26,520 --> 01:22:28,840 last. Night, Copernicus slowly 1480 01:22:28,840 --> 01:22:32,320 redeeming himself. I told him too. 1481 01:22:32,320 --> 01:22:35,120 I'm like maybe you might need to make this one a little more PG. 1482 01:22:35,120 --> 01:22:37,800 Anyways, anyways, drop your me there. 1483 01:22:37,800 --> 01:22:41,120 You score on the chat. Blind Copernicus Okay You went 1484 01:22:41,280 --> 01:22:43,160 all the way. On the other side of that the 1485 01:22:43,160 --> 01:22:45,880 other day. Okay okay meme. 1486 01:22:46,000 --> 01:22:47,320 You score in the chat. In the chat. 1487 01:22:47,400 --> 01:22:49,320 Yeah, in the chat. So it is Friday. 1488 01:22:49,360 --> 01:22:52,480 My level of relaxation is is shade level 2. 1489 01:22:52,680 --> 01:22:56,200 I'm gonna increase it to shade level three. 1490 01:22:57,130 --> 01:22:59,370 Wow, look at you, dude. You look so relaxed. 1491 01:22:59,370 --> 01:23:01,410 You can just tell his face gets more relaxed. 1492 01:23:01,410 --> 01:23:03,530 Yeah. All right, guys, this is great. 1493 01:23:03,770 --> 01:23:06,610 My meme review score, and I'm honestly surprised no one said 1494 01:23:06,610 --> 01:23:09,210 anything about it, because the anything I do on the show, 1495 01:23:09,210 --> 01:23:10,890 everyone everyone makes a point of it. 1496 01:23:11,730 --> 01:23:15,050 My retired old glasses. I got a new prescription so your 1497 01:23:15,050 --> 01:23:17,410 boy, your boy can actually see the computer now. 1498 01:23:18,330 --> 01:23:22,450 Anyways, let's get in. Actually, actually actually 1499 01:23:23,050 --> 01:23:25,930 support support us. Get yourself some simply Bitcoin 1500 01:23:25,930 --> 01:23:29,590 merch shirts, hoodies. I will get you guys hats. 1501 01:23:29,790 --> 01:23:32,510 We've been talking about getting you guys some some other new 1502 01:23:32,510 --> 01:23:34,430 merch ideas. Let us know what you'd want from 1503 01:23:34,430 --> 01:23:36,990 us. And of course we do have in the 1504 01:23:36,990 --> 01:23:41,750 works some simply Bitcoin themed artist collaboration. 1505 01:23:41,750 --> 01:23:45,070 So we will get you guys a bunch of cool stuff we want to 1506 01:23:45,070 --> 01:23:47,390 provide. As cool as stuff as as possible. 1507 01:23:47,390 --> 01:23:51,030 We want to give you guys value, but also, you know, support us, 1508 01:23:51,230 --> 01:23:53,830 keep us on this channel, keep us as independent as possible. 1509 01:23:54,270 --> 01:23:57,500 Get you a shirt. The hoodies are goaded shouts 1510 01:23:57,500 --> 01:23:58,900 out to everyone that's bought something. 1511 01:23:59,660 --> 01:24:08,020 And I think we have some scores in the chat, Nico, so let's get 1512 01:24:08,020 --> 01:24:12,260 this going. I do have the music ready. 1513 01:24:12,260 --> 01:24:13,740 Where to go? Where did the first one go? 1514 01:24:13,740 --> 01:24:16,420 Get some merch. Get some merch because if not 1515 01:24:16,420 --> 01:24:19,780 wine murder us. Wait, is this can I say this 1516 01:24:19,780 --> 01:24:25,660 one? Yeah, yeah, yeah. 1517 01:24:27,220 --> 01:24:38,380 No Opti scores. Troll them until the censorship 1518 01:24:38,380 --> 01:24:40,700 dies. Today I drink to victory. 1519 01:24:43,220 --> 01:24:45,700 The next one New bitcoiners find out. 1520 01:24:45,700 --> 01:24:48,180 It's about money, but it's also about changing the world. 1521 01:24:48,180 --> 01:24:49,980 Bitcoin will end forever. Wars. 1522 01:24:50,830 --> 01:24:52,710 Let's go. You got to lift up the volume on 1523 01:24:52,710 --> 01:24:54,430 the on the. It's loud on my end. 1524 01:24:55,550 --> 01:24:58,550 All right, Cloud casino. I give the memes one Dianne 1525 01:24:58,550 --> 01:25:02,350 Feinstein RIP crab dance celebrate good times. 1526 01:25:02,350 --> 01:25:04,750 Come on. OK, OK. 1527 01:25:05,590 --> 01:25:06,870 Very nice. Very nice. 1528 01:25:06,910 --> 01:25:10,550 All right. Next one BTC truth score 10 1529 01:25:10,550 --> 01:25:14,470 million Bitcoin Utxo's. OK, OK. 1530 01:25:16,190 --> 01:25:19,750 Roman stacks that show meme review pronounced nuclear. 1531 01:25:20,060 --> 01:25:21,340 Okay, okay. I like that. 1532 01:25:22,540 --> 01:25:23,700 Okay, I like that. We're going long. 1533 01:25:24,060 --> 01:25:26,180 There's one more, and it's auto coin trolling us. 1534 01:25:26,260 --> 01:25:29,340 Okay, okay guys, thank you so much for sticking around. 1535 01:25:30,020 --> 01:25:32,740 Thank you so much for singing around for Simply Bitcoin Live. 1536 01:25:32,740 --> 01:25:35,220 We appreciate you guys. Thank you so much for tuning in 1537 01:25:35,420 --> 01:25:38,100 and. Have an amazing weekend. 1538 01:25:38,460 --> 01:25:41,780 Next week is going to be a little bit crazy because of the 1539 01:25:41,780 --> 01:25:44,420 Pacific Bitcoin Festival. We are going to be doing a live 1540 01:25:44,420 --> 01:25:46,780 show from there which should be a lot of fun. 1541 01:25:46,780 --> 01:25:49,700 So the China, the times should be a little bit different than 1542 01:25:49,700 --> 01:25:54,580 usual for the Friday episode. We might miss an episode next 1543 01:25:54,580 --> 01:25:56,260 week due to traveling and all that. 1544 01:25:56,260 --> 01:25:59,820 We'll try to be stay consistent and either Opti and I will be 1545 01:25:59,820 --> 01:26:03,060 out and in and all that. I'll definitely do an episode 1546 01:26:03,060 --> 01:26:04,980 from LA, so that should be a lot of fun. 1547 01:26:05,710 --> 01:26:07,790 But anyways, guys, we love you all. 1548 01:26:07,790 --> 01:26:10,310 We appreciate you. Thank you so much for tuning 1549 01:26:10,310 --> 01:26:13,030 into Simply Bitcoin Live. If you enjoyed the show, make 1550 01:26:13,030 --> 01:26:16,150 sure to smash that like button. Consider subscribing if you feel 1551 01:26:16,150 --> 01:26:18,510 like we provided you value. But the number one thing you 1552 01:26:18,510 --> 01:26:22,390 could do to push the peaceful Bitcoin revolution is share this 1553 01:26:22,390 --> 01:26:24,110 content. In fact, share all Bitcoin 1554 01:26:24,110 --> 01:26:25,470 content. Don't be exclusive. 1555 01:26:25,470 --> 01:26:27,110 Be inclusive. Share it all. 1556 01:26:27,190 --> 01:26:29,350 Don't share shit coin content. That's counterproductive. 1557 01:26:29,910 --> 01:26:31,830 No spaces Today we're going to take a break. 1558 01:26:31,870 --> 01:26:34,910 We have a very, very long week of traveling and just. 1559 01:26:35,190 --> 01:26:38,030 Moving all the equipment and all that stuff ahead of us. 1560 01:26:38,030 --> 01:26:41,070 So we're going to take a break on the spaces today. 1561 01:26:41,430 --> 01:26:44,110 I know you love the spaces. Stay in, stay in for next week 1562 01:26:44,110 --> 01:26:47,150 because we're going to be some special edition episodes from 1563 01:26:47,150 --> 01:26:49,310 the conference floor from the conference. 1564 01:26:50,110 --> 01:26:52,710 Hopefully we get some special guests and some interviews. 1565 01:26:52,710 --> 01:26:55,270 I think Opti and Dell will be able to manage that from the 1566 01:26:55,270 --> 01:26:58,320 Pacific Bitcoin floor. Wherever we get set up. 1567 01:26:58,520 --> 01:27:01,080 So this should be, should be a very good week next week. 1568 01:27:01,080 --> 01:27:04,520 I'm really, really excited for it and I'm your host, Nico's, my 1569 01:27:04,520 --> 01:27:07,240 cohost Opti. We are simply Bitcoin live. 1570 01:27:07,240 --> 01:27:10,000 Love you all guys, enjoy your weekend and we will see you next 1571 01:27:10,000 --> 01:27:10,840 week. Peace out, y'all.