1 00:00:02,920 --> 00:00:05,880 It's all going to zero against Bitcoin. 2 00:00:06,520 --> 00:00:15,480 It's going up forever. You're. 3 00:00:15,480 --> 00:00:22,920 Against Bitcoin, you're against freedom yo. 4 00:00:22,920 --> 00:00:24,960 Welcome to Simba Bitcoin live, your number one source for the 5 00:00:24,960 --> 00:00:27,360 peaceful Bitcoin revolution. Recovery can use culture. 6 00:00:27,360 --> 00:00:29,760 Dramatic warfare will be your guide through the separation of 7 00:00:29,760 --> 00:00:31,760 money and state. Ladies and gentlemen, sit back, 8 00:00:31,760 --> 00:00:34,280 relax, enjoy the ride. Welcome to Simba Bitcoin live, 9 00:00:34,280 --> 00:00:38,480 the most watched daily Bitcoin only live show on YouTube Rumble 10 00:00:38,480 --> 00:00:41,000 and X. We have a ton to unpack today. 11 00:00:41,200 --> 00:00:44,640 Actually, this is a topic that you guys absolutely love so we 12 00:00:44,640 --> 00:00:47,720 like to cover it 'cause you guys love it when we cover it, which 13 00:00:47,720 --> 00:00:52,800 is the question what is bitcoins full potential valuation and 14 00:00:52,800 --> 00:00:56,440 it's really interesting because this is something that went it 15 00:00:56,440 --> 00:01:01,040 you can go back all the way to Bitcoin's early days. 16 00:01:01,040 --> 00:01:05,040 It is actually the legendary Hal Finney that brought this up in 17 00:01:05,040 --> 00:01:10,000 one of his, you know, one of his original post on the Bitcoin 18 00:01:10,000 --> 00:01:13,840 forums, that legendary website, bitcointalk.org. 19 00:01:14,240 --> 00:01:18,680 And it's just interesting to see kind of this being talked about 20 00:01:18,680 --> 00:01:20,680 again, today's article that we're going to cover 21 00:01:20,680 --> 00:01:23,560 specifically one written by Jesse Myers when he comes to 22 00:01:23,560 --> 00:01:27,920 that same conclusion, that same number as it relates to dollars, 23 00:01:27,960 --> 00:01:30,200 obviously Bitcoin's going to go up forever. 24 00:01:30,520 --> 00:01:36,640 But as it relates to the total addressable market, like there 25 00:01:36,640 --> 00:01:40,680 is, I wouldn't say a cap supply, but there's obviously going to 26 00:01:40,680 --> 00:01:43,840 be a percentage of which people are going to feel comfortable 27 00:01:44,080 --> 00:01:48,440 allocating to Bitcoin too. Now it, it, it now talk about, 28 00:01:48,440 --> 00:01:50,800 let's talk about all the assets for a second, right? 29 00:01:51,280 --> 00:01:54,080 Bitcoin, in my opinion, superior to gold, right? 30 00:01:54,080 --> 00:01:55,600 There's an inflation rate to gold. 31 00:01:55,600 --> 00:01:57,440 You don't know how much gold is in the ground. 32 00:01:57,440 --> 00:01:59,520 You don't know how much gold is floating in outer space. 33 00:01:59,800 --> 00:02:00,960 So there's an inflation rate to gold. 34 00:02:01,440 --> 00:02:04,560 Real estate, which is, you know, real estate has a premium all 35 00:02:04,560 --> 00:02:07,320 over, all over the United States, all over the world, as 36 00:02:07,320 --> 00:02:11,360 people try to maintain their purchasing power, they buy a 37 00:02:11,360 --> 00:02:14,960 piece of real estate. But fundamentally, you still 38 00:02:14,960 --> 00:02:17,440 have to pay rent to the government, right? 39 00:02:17,440 --> 00:02:21,360 Even if you own your house, you still have to pay property tax, 40 00:02:21,360 --> 00:02:24,080 right? Bitcoin is really the only asset 41 00:02:24,080 --> 00:02:26,520 that has absolute scarcity, right? 42 00:02:26,520 --> 00:02:28,440 There's there will only ever be 21 million. 43 00:02:28,760 --> 00:02:31,880 That inflation rate gets cut in half every four years. 44 00:02:32,360 --> 00:02:37,360 And as of now, you don't have to pay, you know, a property tax to 45 00:02:37,360 --> 00:02:40,200 the government for owning Bitcoin, which I mean, I think 46 00:02:40,200 --> 00:02:42,320 would be absurd. I think that's definitely 47 00:02:42,320 --> 00:02:45,760 something that, you know, they might talk about in the future, 48 00:02:46,000 --> 00:02:48,960 but as of now that's not the case. 49 00:02:49,160 --> 00:02:52,240 Also, in other news, I really believe this is something that 50 00:02:52,240 --> 00:02:55,680 we've been talking about the last three days or so. 51 00:02:56,080 --> 00:03:01,000 I really believed that this fight for self custody and the 52 00:03:01,000 --> 00:03:04,000 regulatory and fight in the United States was going to be a 53 00:03:04,000 --> 00:03:05,840 lot tougher. I'll be honest with you. 54 00:03:05,840 --> 00:03:09,920 Just all the things that the current administration was doing 55 00:03:09,920 --> 00:03:14,760 in the background, the proposed 30% tax for Bitcoin miners, the 56 00:03:14,760 --> 00:03:19,800 demonization of of self custody, right, the arrest of Bitcoin 57 00:03:19,800 --> 00:03:22,920 privacy developers and Bitcoin O GS right. 58 00:03:23,160 --> 00:03:25,480 But all of a sudden it seems like they did a 180. 59 00:03:25,480 --> 00:03:29,280 And the reason that I believe that happened was because of how 60 00:03:29,280 --> 00:03:33,040 unpopular that is for their political base. 61 00:03:33,040 --> 00:03:37,200 And we are in an election year. So, you know, if the key 62 00:03:37,200 --> 00:03:40,920 demographic doesn't really support you being quote UN quote 63 00:03:40,920 --> 00:03:45,640 anti Bitcoin, that's a problem. And now that you know, the 64 00:03:46,160 --> 00:03:48,920 'cause you know, in the United States the way it is, is a two 65 00:03:48,920 --> 00:03:51,920 party system, right? You have the opposing a 66 00:03:51,920 --> 00:03:54,600 political opponent saying, you know, actually, we're going to 67 00:03:54,600 --> 00:03:59,000 be pro Bitcoin, pro crypto. That kind of creates a 68 00:03:59,000 --> 00:04:01,600 situation, right? So it seems like they did a 180 69 00:04:01,960 --> 00:04:07,840 and the fit 21 bill passed in the House of Representatives. 70 00:04:08,080 --> 00:04:12,720 But I also have to give a shout out to the major Democratic 71 00:04:12,720 --> 00:04:16,079 support that came out because it wasn't just a Republican bill 72 00:04:16,079 --> 00:04:19,320 that passed. There was a a big percentage of 73 00:04:19,320 --> 00:04:23,840 Democrats that went across run across the aisle and also 74 00:04:23,840 --> 00:04:27,320 supported the bill as well. And after all, I really believe 75 00:04:27,320 --> 00:04:30,400 Bitcoin is bipartisan. Bitcoin supports everyone. 76 00:04:31,120 --> 00:04:34,800 You know, it gives people in in countries where normally they 77 00:04:34,800 --> 00:04:37,760 wouldn't be able to open a bank account just because of the of 78 00:04:37,760 --> 00:04:39,360 the place that they happen to be born in. 79 00:04:39,720 --> 00:04:42,040 Bitcoin gives them an opportunity, right? 80 00:04:42,040 --> 00:04:46,360 So, you know, in terms of equality, in terms of equity, I 81 00:04:46,360 --> 00:04:50,160 think Bitcoin is the the, you know, the best tool ever, right? 82 00:04:50,160 --> 00:04:52,400 So I don't think this should be a partisan issue. 83 00:04:52,400 --> 00:04:56,080 It became one a little bit, but it seems like that is slowly 84 00:04:56,080 --> 00:04:58,640 changing. And also you have Brad Sherman. 85 00:04:58,640 --> 00:05:01,600 Brad Sherman is infamous for saying, you know, we're the US 86 00:05:01,600 --> 00:05:03,680 government. We can print money, but everyone 87 00:05:03,680 --> 00:05:05,400 else can't because you're not the government. 88 00:05:05,920 --> 00:05:10,680 He had an absolute meltdown in Congress yesterday, kind of 89 00:05:10,680 --> 00:05:12,600 saying a lot of the quiet parts out loud. 90 00:05:12,880 --> 00:05:17,880 And but he was, it wasn't the own that he thinks it was, but 91 00:05:17,880 --> 00:05:21,360 basically saying like, look, like we're the dollar, we have 92 00:05:21,360 --> 00:05:24,720 the ability to do these things, you know, these, these, you 93 00:05:24,720 --> 00:05:27,600 know, these alternative currencies or our competition to 94 00:05:27,600 --> 00:05:32,120 the dollar. And like Larry Leopard commented 95 00:05:32,720 --> 00:05:36,520 absolute savage saying, Yep, Congressman, that's the entire 96 00:05:36,520 --> 00:05:40,280 point, like laughing. So it's, you know, it's 97 00:05:40,280 --> 00:05:43,040 absolutely hilarious. But you know, this is great. 98 00:05:43,040 --> 00:05:46,080 This is great news from a regulatory perspective in the 99 00:05:46,080 --> 00:05:51,000 United States, 100%. And also a little bit of news 100 00:05:51,000 --> 00:05:52,720 for you guys. We've we've been trying to cover 101 00:05:52,720 --> 00:05:55,640 for the last couple days. We've just ran out of time is 102 00:05:55,800 --> 00:05:59,000 the Julian Assange case, which of course, it's something that 103 00:05:59,000 --> 00:06:01,960 you know, whole, it's very dear to us. 104 00:06:02,160 --> 00:06:05,640 Because I do believe that the fight for freedom of speech is 105 00:06:05,640 --> 00:06:08,240 like the front line for the fight for Bitcoin. 106 00:06:08,240 --> 00:06:10,680 If, if you think that they're not, and if they're going to be 107 00:06:10,680 --> 00:06:14,880 OK with you transacting freely, if, if they're not OK with you 108 00:06:15,040 --> 00:06:18,880 speaking freely, then you know, I, I don't think your, I don't 109 00:06:18,880 --> 00:06:20,120 think your head's in the right place. 110 00:06:20,400 --> 00:06:23,320 So it's really important. And any type of news that comes, 111 00:06:23,440 --> 00:06:27,480 comes up in regards to Ross Aldridge or Julian Assange, you 112 00:06:27,480 --> 00:06:29,400 know, we cover it. We like to stay on top of it on 113 00:06:29,400 --> 00:06:30,800 this show. So it's going to be a great 114 00:06:30,800 --> 00:06:32,600 show. And also we have an incredibly 115 00:06:32,600 --> 00:06:35,120 special guest, a huge fan of her work. 116 00:06:35,360 --> 00:06:37,800 I've never had the honor to have her on the show before. 117 00:06:38,040 --> 00:06:40,000 And of course I'm talking Anita Posh. 118 00:06:40,080 --> 00:06:41,160 Posh. Did I say that? 119 00:06:41,160 --> 00:06:42,680 Is that did I say that correctly? 120 00:06:43,960 --> 00:06:46,400 Absolutely correctly. Hi, great to be here. 121 00:06:47,240 --> 00:06:49,400 Well, thank you so much for coming on the show. 122 00:06:49,760 --> 00:06:55,320 Anita is the founder of. I just had it pulled up and I 123 00:06:55,320 --> 00:06:58,800 completely pulled it down and I'm. 124 00:06:59,560 --> 00:07:03,360 It's an nonprofit initiative called Bitcoin for Fairness. 125 00:07:04,080 --> 00:07:07,000 And could you give a little bit about, could you give like a 126 00:07:07,000 --> 00:07:09,960 little elevator pitch on what that is? 127 00:07:10,800 --> 00:07:14,520 OK, sure. So I started Bitcoin for 128 00:07:14,520 --> 00:07:20,120 Fairness two or three years ago because in an attempt to bring 129 00:07:20,120 --> 00:07:25,840 Bitcoin grassroots education and support for local groups to 130 00:07:25,880 --> 00:07:31,280 African countries is because I believe that Bitcoin is actually 131 00:07:31,280 --> 00:07:37,280 the only money that can give bring equality and more fairness 132 00:07:37,280 --> 00:07:41,320 to the world through the fact that it's permission less and 133 00:07:41,320 --> 00:07:46,080 can't be censored. And since like 55% of the global 134 00:07:46,080 --> 00:07:50,280 population live in authoritarian ruled countries and most of 135 00:07:50,280 --> 00:07:54,280 those people are in African countries, I thought it's the 136 00:07:54,280 --> 00:07:59,400 best to begin there. And so I've been in Zimbabwe and 137 00:07:59,400 --> 00:08:04,960 in the in the sub-saharan area of Africa in the last couple of 138 00:08:04,960 --> 00:08:07,360 years, in total like 1 1/2 years. 139 00:08:07,960 --> 00:08:12,440 And yeah, we had quite some successes, but also very 140 00:08:12,440 --> 00:08:16,800 challenging situations there. And that's the the goal of 141 00:08:16,800 --> 00:08:20,760 Bitcoin for Fairness is to bring Bitcoin education and awareness 142 00:08:21,560 --> 00:08:25,800 to all places basically and mostly those in the global S 143 00:08:25,800 --> 00:08:29,400 one. 100% And I, I fundamentally agree with you. 144 00:08:29,400 --> 00:08:34,840 I think in the global, in the global S specifically Bitcoin, I 145 00:08:34,840 --> 00:08:38,559 would say is a necessity, right? I think a lot of us in the West, 146 00:08:39,240 --> 00:08:43,880 we have the financial privilege of having relatively stable Fiat 147 00:08:43,880 --> 00:08:47,800 currencies that allow us to transact, not to mention the 148 00:08:47,800 --> 00:08:50,160 fact that the political situations are a little bit more 149 00:08:50,160 --> 00:08:54,800 stable as well. But not that not not everyone 150 00:08:54,800 --> 00:08:56,800 has that privilege. You know, I'm, I'm originally 151 00:08:56,800 --> 00:09:00,440 from Venezuela myself, right? This is a country that endured, 152 00:09:00,680 --> 00:09:04,560 you know, hyperinflation. Argentina, of course, the, the 153 00:09:04,560 --> 00:09:07,480 nations of, you know, of many nations in Africa as well. 154 00:09:08,080 --> 00:09:11,080 So is, is this something that people have to understand, 155 00:09:11,080 --> 00:09:13,680 right. Bitcoin is for them, like 156 00:09:13,680 --> 00:09:17,600 Bitcoin for them, It completely changes the conversation. 157 00:09:17,880 --> 00:09:21,280 It allows them to save, it allows them to transact without 158 00:09:21,280 --> 00:09:24,720 fear of persecution, without fear of currency debasement. 159 00:09:24,920 --> 00:09:30,640 So it's an absolute game changer for for people of the global S 160 00:09:31,360 --> 00:09:35,360 100% agree with you and I'm very excited to hear more about it 161 00:09:35,360 --> 00:09:38,360 during the culture segment. What your initiatives have been, 162 00:09:38,360 --> 00:09:41,720 what your projects have been in the global SI do want to bring 163 00:09:41,720 --> 00:09:45,160 up my legendary Co host. Always optimistic giant smile on 164 00:09:45,160 --> 00:09:46,840 his face today. How you doing Opti? 165 00:09:47,040 --> 00:09:49,920 That was the that was the hat that we got in El Salvador 166 00:09:49,920 --> 00:09:53,960 right, The Viva Bitcoin yeah, I mean I gave you the black one 167 00:09:53,960 --> 00:09:56,280 and the white one. I I I don't really I don't 168 00:09:56,280 --> 00:09:59,760 really wear hats, but shout out to the Viva Bitcoin guys. 169 00:09:59,760 --> 00:10:02,880 They're absolutely awesome. The jerseys that you guys gave 170 00:10:02,880 --> 00:10:05,120 us were dope. I man, I don't have it with me, 171 00:10:05,120 --> 00:10:06,680 but we should show it off for you guys. 172 00:10:07,120 --> 00:10:08,840 But but yeah man, how you doing Opti? 173 00:10:09,480 --> 00:10:12,240 I'm doing wonderful man life on the Bitcoin standard. 174 00:10:12,240 --> 00:10:15,920 Life is a Bitcoiner is great. It it couldn't it couldn't get 175 00:10:15,920 --> 00:10:17,120 better. Well, it could probably get a 176 00:10:17,120 --> 00:10:19,600 little bit better. And I think we're seeing we're 177 00:10:19,600 --> 00:10:22,880 seeing that it's starting to change in our favor. 178 00:10:22,880 --> 00:10:26,000 But before we go on, I I have to give a huge shout out to my 179 00:10:26,000 --> 00:10:27,560 favorite politician, Brad Sherman. 180 00:10:27,560 --> 00:10:30,320 He's the only politician that actually gets what's going on 181 00:10:30,320 --> 00:10:33,640 and I absolutely love it when we get new sound bites from him. 182 00:10:33,640 --> 00:10:37,440 So this this is great. I I get giddy when we get Brad 183 00:10:37,440 --> 00:10:39,880 Sherman on the show because it's so amazing. 184 00:10:39,880 --> 00:10:41,640 We need, we need an IRL with Brad Sherman. 185 00:10:41,640 --> 00:10:43,680 Nico, you and Brad Sherman. That'd be amazing. 186 00:10:44,360 --> 00:10:46,400 Man, I don't know if you would agree to that, but yeah, that 187 00:10:46,400 --> 00:10:49,480 would be epic content, that absolute meltdown. 188 00:10:49,760 --> 00:10:53,120 Anyways, guys, if you guys are enjoying the show so far, smash 189 00:10:53,120 --> 00:10:55,320 the like button. Help us break 100 likes within 190 00:10:55,320 --> 00:10:59,240 the first hour of the show. Really, really helps with the 191 00:10:59,280 --> 00:11:00,840 algo. So if you're watching us on 192 00:11:00,840 --> 00:11:03,360 YouTube, smash the like button. If you're watching us on Rumble, 193 00:11:03,640 --> 00:11:05,440 smash the like button. If you're watching us on 194 00:11:05,440 --> 00:11:06,880 Twitter, smash the out. Like button. 195 00:11:06,880 --> 00:11:11,200 Tells the algos to push the orange signal forward anyways 196 00:11:11,200 --> 00:11:15,680 guys sit back relax. We got loads of info tons of 197 00:11:15,680 --> 00:11:18,440 Bitcoin signal for you guys before we jump to it. 198 00:11:18,600 --> 00:11:21,800 I do want to give a shout out to our lead sponsor and of course, 199 00:11:22,000 --> 00:11:25,240 I'm talking about the best place to build your Bitcoin stack 200 00:11:25,480 --> 00:11:29,440 bitcoinwell.com buy Bitcoin with Bitcoin. 201 00:11:29,440 --> 00:11:33,720 Well, it's a self custody by default Bitcoin platform. 202 00:11:33,920 --> 00:11:38,040 It's automatic self custody future proof your money with 203 00:11:38,120 --> 00:11:40,240 Bitcoin. Well, what is automatic self 204 00:11:40,240 --> 00:11:42,440 custody? What is self custody by default 205 00:11:42,440 --> 00:11:46,440 means it means that it's a non custodial platform when you buy 206 00:11:46,440 --> 00:11:51,400 Bitcoin on Bitcoin well, they literally they you have to put 207 00:11:51,600 --> 00:11:54,320 yourself custody Bitcoin wallet address. 208 00:11:54,480 --> 00:11:57,680 So as soon as you buy Bitcoin and the fund's clear it doesn't 209 00:11:57,680 --> 00:11:59,880 stay on the platform doesn't even allow you to do that. 210 00:12:00,040 --> 00:12:03,680 It goes straight to yourself custody Bitcoin wallet, which 211 00:12:03,680 --> 00:12:07,480 perfectly aligns with the simply Bitcoin ethos of the separation 212 00:12:07,640 --> 00:12:11,000 of money in state because after all self custody evolution. 213 00:12:11,280 --> 00:12:14,680 Go to bitcoinwell.com buy real Bitcoin, enable your 214 00:12:14,680 --> 00:12:18,440 independence with the fastest and safest way to buy Bitcoin 215 00:12:18,440 --> 00:12:21,360 and Canon the USA. To get started, you literally go 216 00:12:21,360 --> 00:12:23,840 to the website bitcoinwell.com/simply. 217 00:12:24,120 --> 00:12:27,120 You put in your e-mail address literally the verification 218 00:12:27,120 --> 00:12:29,440 process. The whole thing literally takes 219 00:12:29,440 --> 00:12:33,360 less than like 2 to 3 minutes. It's a clear 1% spread, which is 220 00:12:33,360 --> 00:12:35,360 basically the industry standard at this point. 221 00:12:35,880 --> 00:12:39,560 It's Bitcoin only, obviously, and it's non custodial, which is 222 00:12:39,560 --> 00:12:42,880 the most important part for me. And obviously that empowers 223 00:12:42,880 --> 00:12:46,520 sovereign ownership with free automatic self custody. 224 00:12:46,720 --> 00:12:50,880 So guys support self custody by default, Bitcoin on ramps 225 00:12:50,880 --> 00:12:53,320 because self custody is the revolution. 226 00:12:53,320 --> 00:12:58,920 To get started, go to bitcoinwell.com/simply and start 227 00:12:58,920 --> 00:13:01,600 your first step to becoming a sovereign individual, 228 00:13:01,600 --> 00:13:03,840 bitcoinwell.com. All right, everybody, let's hit 229 00:13:03,840 --> 00:13:07,960 the numbers. The Bitcoin numbers. 230 00:13:08,360 --> 00:13:11,240 Is your Bitcoin in cold storage really secure? 231 00:13:11,360 --> 00:13:13,920 Is your seed phrase really secure? 232 00:13:14,040 --> 00:13:17,560 Stamp seeds Do It Yourself Kit has everything you need to 233 00:13:17,560 --> 00:13:21,960 hammer your seed words into commercial grade titanium plates 234 00:13:22,120 --> 00:13:24,120 instead of just writing them on paper. 235 00:13:24,440 --> 00:13:27,640 Don't store your generational wealth on paper. 236 00:13:28,040 --> 00:13:30,600 Papers prone to water damage, fire damage. 237 00:13:30,760 --> 00:13:33,000 You want to put your generational wealth on one of 238 00:13:33,000 --> 00:13:35,040 the strongest metals on planet earth. 239 00:13:35,240 --> 00:13:37,600 Titanium. Your words are actually stamped 240 00:13:37,600 --> 00:13:41,160 into this metal plate with this hammer and these letter stamps. 241 00:13:41,200 --> 00:13:43,720 And once your words are in, they aren't going anywhere. 242 00:13:43,800 --> 00:13:47,440 No risk of the plate breaking apart and pieces falling 243 00:13:47,440 --> 00:13:49,880 everywhere. Titanium stamp seeds will 244 00:13:49,880 --> 00:13:52,840 survive nearly triple the heat produced by a house fire. 245 00:13:52,840 --> 00:13:56,000 They're also crush proof, waterproof, non corrosive, and 246 00:13:56,000 --> 00:13:58,240 time proof. All things that paper is not 247 00:13:58,240 --> 00:14:01,480 allowing you to huddle your Bitcoin with Peace of Mind for 248 00:14:01,560 --> 00:14:04,920 the long haul. Stamp your seed on stamp seed. 249 00:14:05,440 --> 00:14:08,280 All right, everybody, I made it incredibly easy for you guys. 250 00:14:08,840 --> 00:14:12,040 You can scan the QR code on your screen or check the link in the 251 00:14:12,040 --> 00:14:15,520 video description to take you to stampse-ed.com so you can get 252 00:14:15,520 --> 00:14:18,320 yourself a titanium seed phrase storage kit. 253 00:14:18,560 --> 00:14:20,680 So you don't have to put yourself in a position where you 254 00:14:20,680 --> 00:14:22,880 have to explain to your grandchildren why you lost their 255 00:14:22,880 --> 00:14:25,840 generational wealth because for whatever reason you decided to 256 00:14:25,840 --> 00:14:27,880 store your Bitcoin seed words on paper. 257 00:14:28,080 --> 00:14:29,920 Don't do that. Don't put yourself in that 258 00:14:29,920 --> 00:14:31,920 position. Stamp them on one of the 259 00:14:31,920 --> 00:14:34,280 strongest metals on planet Earth, titanium. 260 00:14:34,280 --> 00:14:37,760 You can use promo code simply to get 15% off anything on the 261 00:14:37,760 --> 00:14:40,760 Stamp Seed website. At the time of recording the 262 00:14:40,760 --> 00:14:47,840 Bitcoin price is 68,060 SAT's per dollar 1469 block height 263 00:14:48,040 --> 00:14:58,520 844,769 blocks to having 205,231 having estimate March 22nd 2028 264 00:14:58,720 --> 00:15:06,000 Total lightning network capacity 4674 Bitcoin capacity value $318 265 00:15:06,000 --> 00:15:10,880 million realized monetary inflation 1.65%. 266 00:15:11,080 --> 00:15:14,760 The market capitalization of Bitcoin is currently at 1.34 267 00:15:14,760 --> 00:15:18,000 trillion. Bitcoin verse gold market cap 268 00:15:18,240 --> 00:15:22,000 8.23%. In the grand scheme of things, 269 00:15:22,000 --> 00:15:26,200 we are just getting started. Anyways, this is what I want to 270 00:15:26,200 --> 00:15:27,640 talk about during the numbers today. 271 00:15:28,240 --> 00:15:32,200 Historic in terms of the regulatory environment here in 272 00:15:32,200 --> 00:15:36,360 the United States, companies getting more regulatory clarity, 273 00:15:36,560 --> 00:15:40,040 but it's a shame that it needed to get political in order for 274 00:15:40,040 --> 00:15:44,040 these things to happen. It's a shame that, you know, a 275 00:15:44,040 --> 00:15:46,960 certain political candidates started to like put their arms 276 00:15:46,960 --> 00:15:48,320 up in there and say, listen, you know what? 277 00:15:48,320 --> 00:15:53,040 I'm pro Bitcoin, Elizabeth Warren taking the I'm going to 278 00:15:53,040 --> 00:15:55,640 build an anti, you know, crypto army. 279 00:15:55,640 --> 00:15:57,160 Like what? Like why? 280 00:15:57,200 --> 00:16:00,720 Like, you know, and, and, and it's such a shame too, because I 281 00:16:00,720 --> 00:16:03,320 remember Elizabeth Warren was part of the whole Occupy Wall 282 00:16:03,320 --> 00:16:06,480 Street movement. And like, what happened? 283 00:16:06,480 --> 00:16:09,400 Like, did the, you know, did she become part of Wall Street? 284 00:16:09,400 --> 00:16:10,800 Did Wall Street start paying her off? 285 00:16:10,800 --> 00:16:13,760 I don't understand, because look, fundamentally we all have 286 00:16:13,760 --> 00:16:17,880 to understand that like, look, Bitcoin is, is apolitical. 287 00:16:18,560 --> 00:16:21,720 It supports everyone, but you know who it doesn't support? 288 00:16:21,920 --> 00:16:24,400 It doesn't support tyrants, right? 289 00:16:24,400 --> 00:16:28,280 So anyone who's against freedom, anyone who's against the 290 00:16:28,280 --> 00:16:31,840 individual being able to hold and earn in the money that they 291 00:16:31,840 --> 00:16:35,600 can't debase and confiscate easily is fundamentally against 292 00:16:35,600 --> 00:16:39,680 Bitcoin, full stop. Anyways, So for audio listeners, 293 00:16:39,680 --> 00:16:43,880 the name of the article is U.S. House Approves crypto fit 21 294 00:16:43,880 --> 00:16:46,320 bill with wave of Democratic support. 295 00:16:46,560 --> 00:16:49,880 It goes on to say the crypto industry recorded its biggest 296 00:16:49,880 --> 00:16:52,200 ever. U.S. policy went on Wednesday 297 00:16:52,320 --> 00:16:55,080 when the US House of Representatives approved a wide 298 00:16:55,080 --> 00:16:58,560 reaching bill to establish regulations for digital asset 299 00:16:58,560 --> 00:17:05,280 markets, recording a 279 to 136 vote that saw Democrats crossing 300 00:17:05,280 --> 00:17:08,319 party lines to support it. The Financial Innovation and 301 00:17:08,319 --> 00:17:12,480 Technology for the 21st Century Act marks the first time a major 302 00:17:12,480 --> 00:17:15,160 crypto bill has cleared one of the chambers of Congress. 303 00:17:15,480 --> 00:17:19,119 The issue now heads to the US Senate, where its future is much 304 00:17:19,119 --> 00:17:22,720 murkier because there's no counterpart bill, support for 305 00:17:22,720 --> 00:17:26,240 such an effort remains unclear and the necessary committee 306 00:17:26,240 --> 00:17:29,440 committees haven't done the same level of work on crypto. 307 00:17:29,720 --> 00:17:32,960 The US has fallen behind global jurisdictions in establishing 308 00:17:32,960 --> 00:17:36,840 crypto regulations and despite when on Wednesday, implementing 309 00:17:36,840 --> 00:17:39,360 such oversight is far from complete. 310 00:17:39,840 --> 00:17:44,080 We need rules of the road, said a representative one of the 311 00:17:44,080 --> 00:17:47,600 Democrats who buckled the opposition of the White House 312 00:17:47,600 --> 00:17:50,600 and the ranking Democrat on the House Financial Service 313 00:17:50,600 --> 00:17:53,240 Committee. Representative Maxine Waters, he 314 00:17:53,240 --> 00:17:55,840 called it well reasoned, thoughtful bipartisan 315 00:17:55,840 --> 00:18:00,160 legislation and argued before the vote that, quote, it's fit 316 00:18:00,160 --> 00:18:02,600 to become law if we work together. 317 00:18:02,800 --> 00:18:07,560 Overall, 71 Democrats and 208 Republicans voted in favor of 318 00:18:07,560 --> 00:18:12,360 the bill versus 3 Republicans and 133 Democrats who voted 319 00:18:12,360 --> 00:18:14,840 against it. President Joe Biden opposed the 320 00:18:14,840 --> 00:18:18,760 bill with a policy statement, though he didn't say he'd veto 321 00:18:18,760 --> 00:18:22,800 the bill as he had recently when the Congress sought to overturn 322 00:18:22,800 --> 00:18:26,160 a Securities and Exchange Commission effort to set crypto 323 00:18:26,160 --> 00:18:29,520 accounting policy. SEC Chairman Gary Genzer also 324 00:18:29,520 --> 00:18:33,000 came out strongly against the legislation in a lengthy public 325 00:18:33,000 --> 00:18:36,120 statement, arguing the bill wasn't needed and endangered 326 00:18:36,120 --> 00:18:40,240 existing securities regulations. So it's just interesting the 327 00:18:40,240 --> 00:18:47,000 change in change in tune and how it became a a a bipartisan issue 328 00:18:47,280 --> 00:18:50,920 as as soon as everyone started to see that this wasn't 329 00:18:50,920 --> 00:18:55,400 necessarily a winning issue from the political side of things, 330 00:18:55,480 --> 00:18:59,400 especially when a major part of your demographic is extremely 331 00:18:59,400 --> 00:19:02,360 pro Bitcoin. Here's Brad Sherman, the anti 332 00:19:02,440 --> 00:19:08,160 Bitcoin House member, and he went absolutely off yesterday 333 00:19:08,440 --> 00:19:10,680 and you know what a lot of the things that he's saying are 334 00:19:10,680 --> 00:19:14,440 right, But I don't think this is the own that he thinks it is 335 00:19:14,600 --> 00:19:17,360 because I don't think a lot of people, I think a lot of people 336 00:19:17,360 --> 00:19:20,960 have lost faith in the institution of government. 337 00:19:20,960 --> 00:19:24,520 I think a lot of people have lost faith in this idea that for 338 00:19:24,520 --> 00:19:27,960 some reason the government should be the only one that has 339 00:19:27,960 --> 00:19:30,080 the privilege to create money for free. 340 00:19:30,960 --> 00:19:34,120 You know, and, and, and, and I think a lot of people have lost 341 00:19:34,120 --> 00:19:38,080 face faith in the existing system, specifically if if 342 00:19:38,080 --> 00:19:40,520 you're from the younger generations, I mean, you can't 343 00:19:40,520 --> 00:19:43,240 own a house, you've been out priced of everything. 344 00:19:43,480 --> 00:19:46,560 They're even telling you, you know, you'll own nothing and be 345 00:19:46,560 --> 00:19:48,680 happy. So, you know, a lot of the 346 00:19:48,680 --> 00:19:52,400 things that I think he thinks are and own, I think, you know, 347 00:19:52,400 --> 00:19:57,000 if it's specifically if, you know, if you haven't benefited 348 00:19:57,320 --> 00:20:00,120 from this system, you're kind of like, you know, I think it's 349 00:20:00,120 --> 00:20:03,560 time for a change to be honest. Anyways, let's hear what he has 350 00:20:03,560 --> 00:20:06,120 to say. It poses, it creates a 351 00:20:06,120 --> 00:20:09,720 competitor to the US dollar, which has one advantage. 352 00:20:09,720 --> 00:20:11,920 It's right in the name hidden money. 353 00:20:12,200 --> 00:20:18,400 Hide your money from the IRS, from our sanctions and borders, 354 00:20:18,480 --> 00:20:21,720 from every everyone involved in the US government. 355 00:20:22,120 --> 00:20:25,720 And then finally, crypto declares that it wants to 356 00:20:25,720 --> 00:20:29,800 partially displace the US dollar as a reserve currency if it's 357 00:20:30,000 --> 00:20:32,360 successful in that. 30 a different seconds. 358 00:20:32,520 --> 00:20:34,560 Third additional seconds. The gentleman's recognized. 359 00:20:34,560 --> 00:20:36,680 You have to understand how important it is. 360 00:20:37,240 --> 00:20:40,760 We frankly are not fiscally responsible in this House. 361 00:20:41,000 --> 00:20:44,080 We don't collect near as much taxes as we spend in benefits. 362 00:20:44,360 --> 00:20:48,400 We're able to do that without too much harm because of the 363 00:20:48,400 --> 00:20:52,680 role of the US dollar as a as a reserve currency. 364 00:20:53,160 --> 00:20:57,280 We have fiscal policies that would make Argentina blush, but 365 00:20:57,280 --> 00:21:00,040 we're able to do it. The crypto Bros see the 366 00:21:00,040 --> 00:21:04,480 incredible amount of money and power the US government has by 367 00:21:04,480 --> 00:21:07,960 being the world's reserve currency and they say no, they 368 00:21:07,960 --> 00:21:10,000 want to appropriate that from themselves. 369 00:21:11,120 --> 00:21:17,440 I yield back. So I mean, here's here's Larry 370 00:21:17,440 --> 00:21:20,720 Leopard responding. Yep, Congressman, that's the 371 00:21:20,720 --> 00:21:21,920 entire point. Muhaha. 372 00:21:22,960 --> 00:21:26,160 Here's Parman saying ha ha ha. He's comparing themselves to 373 00:21:26,160 --> 00:21:28,760 Argentina. Wait to set the bar low. 374 00:21:29,040 --> 00:21:32,960 But I mean, it's interesting because he did say the quiet 375 00:21:32,960 --> 00:21:35,720 part out loud. He's like look like because 376 00:21:35,720 --> 00:21:38,080 we're able to print this money. I also want to give a shout out 377 00:21:38,080 --> 00:21:41,520 to the Super chat by Hamasito. Thank you bro for the for the 378 00:21:41,520 --> 00:21:42,720 $2.00. Appreciate it. 379 00:21:43,840 --> 00:21:46,120 But like, I mean, he's saying the quiet part out loud. 380 00:21:46,120 --> 00:21:48,480 Like what else can I say? Like he's literally saying 381 00:21:48,760 --> 00:21:52,040 because we have this ability to create money out of nothing, 382 00:21:52,200 --> 00:21:55,360 because we're the world's reserve currency, we're able to 383 00:21:55,360 --> 00:21:58,520 spend and pay for things even though we don't have enough 384 00:21:58,520 --> 00:22:02,240 money in terms of collecting revenue through tax. 385 00:22:02,560 --> 00:22:06,120 We, that's not enough to, to pay for the bill, but because we're 386 00:22:06,120 --> 00:22:09,400 the world's reserve currency, we're able to, you know, have 387 00:22:09,400 --> 00:22:14,280 these, these, we're able to just spend money the way that we were 388 00:22:14,280 --> 00:22:16,720 doing it. We're able to have these fiscal 389 00:22:16,720 --> 00:22:19,520 policies, even though we might not necessarily be able to 390 00:22:19,520 --> 00:22:21,760 afford them. Like he's literally saying the 391 00:22:21,760 --> 00:22:24,160 quiet part out loud and then he's saying like, you know, the 392 00:22:24,160 --> 00:22:28,080 quote UN quote, crypto Bros, you know, they, they, they want that 393 00:22:28,080 --> 00:22:31,000 power for themselves. That's not true, right? 394 00:22:31,160 --> 00:22:35,440 What Bitcoiners are advocating for is an ecosystem where no one 395 00:22:35,440 --> 00:22:39,280 has the privilege of being able to create money for free that 396 00:22:39,280 --> 00:22:41,960 another fellow human being has to work for, right? 397 00:22:41,960 --> 00:22:43,880 If you want to make more Bitcoin, you have to get in 398 00:22:43,880 --> 00:22:45,000 line. You have to mine it like 399 00:22:45,000 --> 00:22:47,040 everybody else. You have to, you have to earn 400 00:22:47,040 --> 00:22:50,000 it, you have to mine it or you have to buy it, right? 401 00:22:50,120 --> 00:22:54,160 There is no special privilege of a bureaucratic elite in 402 00:22:54,160 --> 00:22:57,480 Washington, DC that has the ability to create money out of 403 00:22:57,480 --> 00:23:01,200 thin air. And what he fails also to 404 00:23:01,200 --> 00:23:04,000 acknowledge is why was Bitcoin invented? 405 00:23:04,000 --> 00:23:06,160 I mean, it's literally or discovered depending on the way 406 00:23:06,160 --> 00:23:08,840 that you're looking at it. It's in the genesis block. 407 00:23:08,840 --> 00:23:11,720 It says Chancellor on the brink of the 2nd bailout for banks, 408 00:23:11,880 --> 00:23:13,640 right? Satoshi knew that they were just 409 00:23:13,640 --> 00:23:16,360 going to keep on printing money. And there are unintended 410 00:23:16,360 --> 00:23:20,000 consequences of that. I'm sure that most people in DC, 411 00:23:20,000 --> 00:23:23,480 they come from a place of, you know, they're good, they're 412 00:23:23,480 --> 00:23:25,280 good-natured. Like they, they want what's 413 00:23:25,280 --> 00:23:27,360 best. But they're unintended 414 00:23:27,360 --> 00:23:29,440 consequences to the money printing. 415 00:23:29,440 --> 00:23:31,200 And what are those unintended consequences? 416 00:23:31,400 --> 00:23:34,280 The prices of assets go through the roof. 417 00:23:34,520 --> 00:23:37,680 So if you're in the lower and middle classes and you're living 418 00:23:37,680 --> 00:23:41,800 paycheck to paycheck or you don't have the means to buy 419 00:23:41,800 --> 00:23:47,280 assets or save an asset, you're getting absolutely wrecked every 420 00:23:47,280 --> 00:23:51,360 time they print money. And this is more, this is more 421 00:23:51,360 --> 00:23:55,600 apparent, like Anita was saying earlier on in the global S, 422 00:23:55,840 --> 00:23:57,120 right? This is more apparent in 423 00:23:57,120 --> 00:23:59,680 countries like Argentina. This is more apparent in 424 00:23:59,680 --> 00:24:03,160 countries like Venezuela. You get absolutely destroyed. 425 00:24:03,400 --> 00:24:05,720 Bitcoin protects your purchasing power. 426 00:24:05,840 --> 00:24:09,680 Bitcoin protects your energy in this unconfiscatable, 427 00:24:09,680 --> 00:24:12,960 undebaseable wealth. That's what we want, right? 428 00:24:13,480 --> 00:24:14,920 And I don't think that's a bad thing. 429 00:24:14,920 --> 00:24:19,680 So, you know, I don't think that was the own that Brad Sherman 430 00:24:19,680 --> 00:24:23,080 thought that was. I think that was a self own if 431 00:24:23,080 --> 00:24:26,080 anything, because Larry Leopard said it best. 432 00:24:26,080 --> 00:24:29,240 Like, yeah, absolutely. That's exactly what we want. 433 00:24:29,840 --> 00:24:33,760 And it's not our fault that they have abused that privilege. 434 00:24:33,920 --> 00:24:37,320 We the people believed in governments, right? 435 00:24:37,600 --> 00:24:41,400 And they're the ones that, you know, started politicizing 436 00:24:41,400 --> 00:24:46,320 money, weaponizing money, and debasing money at the expense of 437 00:24:46,320 --> 00:24:48,520 the people. And it's really the lower middle 438 00:24:48,520 --> 00:24:52,240 classes that get affected the most by this irresponsible 439 00:24:52,240 --> 00:24:55,840 fiscal spending. It's not so much, you know, the 440 00:24:55,840 --> 00:24:58,840 very wealthy, the very wealthy do have the means to save an 441 00:24:58,840 --> 00:25:01,840 assets. So asset prices go up for them. 442 00:25:01,960 --> 00:25:04,440 They, they benefit from that. You can even make an argument 443 00:25:04,440 --> 00:25:06,560 for that. But it's really the lower and 444 00:25:06,560 --> 00:25:08,840 middle classes that really get hammered. 445 00:25:09,400 --> 00:25:12,600 And that's what Bitcoin is for. Bitcoin is for everyone, right? 446 00:25:12,600 --> 00:25:15,160 Bitcoin is for the people. I would say Bitcoin is the 447 00:25:15,160 --> 00:25:17,760 people's money. I would say the dollar is the 448 00:25:17,760 --> 00:25:20,360 politician's money. Anyways, I'm going to pass it on 449 00:25:20,360 --> 00:25:26,080 to Anita and then Opti. Yeah, I mean, I totally agree 450 00:25:26,080 --> 00:25:30,800 with what you just said. I mean, the system is built on 451 00:25:30,840 --> 00:25:35,400 Fiat money and it's built on the organizations that were 452 00:25:35,400 --> 00:25:38,080 basically set up after the Second World War. 453 00:25:38,400 --> 00:25:43,280 So when we had the conference in Bretton Woods, when the US was 454 00:25:43,280 --> 00:25:50,240 the winner of the Second World War, they basically invited old 455 00:25:50,240 --> 00:25:54,280 white men, have nothing against old white men, OK, But it was 456 00:25:54,280 --> 00:25:59,640 like 60 white men who from Europe and the US who basically 457 00:25:59,640 --> 00:26:06,760 decided the fate of the world for the coming 506070 or maybe 458 00:26:06,760 --> 00:26:08,800 100 years. We don't know how long the 459 00:26:09,920 --> 00:26:13,520 hegemony of the Petro dollar, Petro dollar is going to last, 460 00:26:13,840 --> 00:26:19,160 but basically those people started international 461 00:26:19,160 --> 00:26:23,520 organizations and the financial system of regulations that 462 00:26:23,520 --> 00:26:29,080 basically is now excluding 2 billion people worldwide because 463 00:26:29,320 --> 00:26:33,680 they can't have IDs, so they don't have papers, they can't 464 00:26:33,680 --> 00:26:38,640 KYC themselves or they are too poor to to be have a bank 465 00:26:38,640 --> 00:26:43,880 account. Or they the banks are not there 466 00:26:43,880 --> 00:26:48,000 where they live because it's too costly to have a bank somewhere 467 00:26:48,000 --> 00:26:51,880 out there in the rural region. So basically there are no banks. 468 00:26:51,880 --> 00:26:55,960 And even more like most people in African countries don't want 469 00:26:55,960 --> 00:26:58,760 to be in a bank. They don't want to have a bank 470 00:26:58,760 --> 00:27:02,560 account because they are totally unreliable, very bureaucratic, 471 00:27:02,760 --> 00:27:07,120 very expensive. And it's basically something 472 00:27:07,120 --> 00:27:12,520 that happens to everyone and anyone here and there that they 473 00:27:12,520 --> 00:27:13,920 close your bank account. Yeah. 474 00:27:13,920 --> 00:27:19,400 And even more if you are in a basically an activists working 475 00:27:19,680 --> 00:27:24,560 for freedom and against these authoritarian rulers that are 476 00:27:25,280 --> 00:27:29,480 sitting or having power, holding on to power in many of these 477 00:27:29,480 --> 00:27:34,240 countries for decades actually. And so that's where Bitcoin 478 00:27:34,240 --> 00:27:38,920 comes in and where I see, or many of us Bitcoin, I see a 479 00:27:38,920 --> 00:27:45,040 great potential, but it's also difficult because there have 480 00:27:45,040 --> 00:27:48,200 been so many scams around Bitcoin. 481 00:27:48,200 --> 00:27:51,800 Like all shit coiners copy Bitcoin in a way. 482 00:27:52,080 --> 00:27:58,120 And in the African regions where I have been, the first question 483 00:27:58,120 --> 00:28:00,920 people asking me is mostly Bitcoin. 484 00:28:00,920 --> 00:28:04,280 Is it not a scam? Because everyone has been 485 00:28:04,280 --> 00:28:08,480 scammed in one or the other way. And so there's a lot of 486 00:28:08,480 --> 00:28:11,480 distrust. And sometimes I, I have the 487 00:28:11,480 --> 00:28:15,360 feeling that people don't want to use Bitcoin because they 488 00:28:15,360 --> 00:28:20,360 can't believe it's true and they rather go with what they know. 489 00:28:20,520 --> 00:28:24,040 So with the problems that Fiat money is bringing them, because 490 00:28:24,040 --> 00:28:27,440 they are aware of it, they already manage, you know, they, 491 00:28:27,440 --> 00:28:30,200 they know their ways around and what to do. 492 00:28:30,640 --> 00:28:34,040 So sometimes I'm, I'm, I'm really, to be honest, a little 493 00:28:34,040 --> 00:28:39,480 bit disappointed that people don't see the advantages that 494 00:28:39,480 --> 00:28:45,840 Bitcoin could bring them. And also I have to be quite 495 00:28:45,880 --> 00:28:49,560 honest about that. I think because we, we think, or 496 00:28:49,680 --> 00:28:53,080 when before I went to African countries, I really thought, 497 00:28:53,240 --> 00:28:56,840 yeah, people are using Bitcoin. No, most of them are using USDT. 498 00:28:56,880 --> 00:29:02,160 Yeah, they want stable coins. For instance, in Zimbabwe, 80% 499 00:29:02,160 --> 00:29:06,600 of the people who use cryptocurrency use USDT and 20% 500 00:29:06,600 --> 00:29:11,760 Bitcoin. And so that's also interesting 501 00:29:12,640 --> 00:29:19,240 because people don't understand it seems that the inflation they 502 00:29:19,240 --> 00:29:23,560 have on their own money is basically losing them more. 503 00:29:23,720 --> 00:29:27,600 So they lose more value with the inflation than if they were to 504 00:29:27,600 --> 00:29:29,680 sit out the volatility of Bitcoin. 505 00:29:30,000 --> 00:29:33,200 But of course the problem is people can't save like we can. 506 00:29:33,480 --> 00:29:37,600 So they need to spend immediately or they can't risk 507 00:29:37,720 --> 00:29:42,240 losing any value because they don't have a lot. 508 00:29:43,120 --> 00:29:49,320 So there are many, many opportunities and but still the 509 00:29:49,840 --> 00:29:56,160 system that the US and European countries have built basically 510 00:29:56,280 --> 00:30:03,680 built on rules that favour them. And also like exactly what Alex 511 00:30:03,680 --> 00:30:07,280 Gladstein is also always saying, it's a hidden repression with 512 00:30:07,400 --> 00:30:12,760 all these credit and and loans that the internationally 513 00:30:12,760 --> 00:30:18,400 Monetary Fund, etcetera, that they are giving to Zambia or 514 00:30:18,400 --> 00:30:23,040 Zimbabwe or all these countries, they're basically indebting 515 00:30:23,040 --> 00:30:26,600 those countries. And that's a circular, a deadly 516 00:30:26,600 --> 00:30:31,360 spiral in a way I would say. And, and on the other hand, I, I 517 00:30:31,360 --> 00:30:34,640 always say, yeah, but with Bitcoin, those countries, they 518 00:30:34,640 --> 00:30:42,400 can use their vast natural resources to mine Bitcoin and 519 00:30:42,400 --> 00:30:46,240 and build their self sovereign monetary bases. 520 00:30:46,640 --> 00:30:51,160 But I don't think that these governments like in Zimbabwe for 521 00:30:51,160 --> 00:30:57,560 instance, that they want that because then they would, they 522 00:30:57,600 --> 00:31:01,280 wouldn't have their own system anymore, the Fiat system with 523 00:31:01,280 --> 00:31:05,880 which they make their money. So I believe a lot of people 524 00:31:05,880 --> 00:31:11,080 also in these areas of authoritarian leaderships, they 525 00:31:11,080 --> 00:31:15,160 use Bitcoin, I'm quite sure about that, but they don't want 526 00:31:15,160 --> 00:31:16,920 their people to use it, of course. 527 00:31:17,480 --> 00:31:19,720 Yeah, of course. They actually, Alex Gladstein 528 00:31:19,720 --> 00:31:23,640 wrote an incredible piece, which is Bitcoin is the Trojan horse 529 00:31:23,640 --> 00:31:27,120 for freedom. And he was making that that the 530 00:31:27,120 --> 00:31:29,880 case that, you know, a lot of these authoritarians, they want 531 00:31:29,880 --> 00:31:33,560 to benefit from number go up technology, but they don't want 532 00:31:33,560 --> 00:31:36,280 the freedom enabling technology that comes with it. 533 00:31:36,560 --> 00:31:39,200 But they don't realize that it's inextricably linked. 534 00:31:39,200 --> 00:31:43,920 You cannot disconnect the two. So yeah, I 100% agree. 535 00:31:44,440 --> 00:31:48,320 But anyways, let's let's move on to the news Opti. 536 00:31:48,320 --> 00:31:50,480 We're we're already at the 30 way we can. 537 00:31:50,520 --> 00:31:53,280 I can I just say that I just absolutely love Brad Sherman. 538 00:31:53,280 --> 00:31:56,000 He's my favorite politician. He's the only politician, 539 00:31:56,200 --> 00:31:59,800 whether he knows it or not, that actually, you know, exposes the 540 00:31:59,800 --> 00:32:02,080 game at hand. And I, even though he's trying 541 00:32:02,080 --> 00:32:04,560 to own us, I, I love when he's cell phones. 542 00:32:04,560 --> 00:32:05,920 He's my favorite. He's my favorite. 543 00:32:06,040 --> 00:32:11,440 Yeah, no, me too, but hold on by by Mr. Brad Sherman. 544 00:32:11,760 --> 00:32:15,840 But anyways, guys, before we move on to the news segment, I 545 00:32:15,840 --> 00:32:19,000 do want to give an extremely shout out to our sponsor. 546 00:32:19,000 --> 00:32:22,160 And of course I'm talking about the pleb party that is going to 547 00:32:22,160 --> 00:32:26,480 be hosted in Nashville. This pleb party is the day 548 00:32:26,480 --> 00:32:30,200 before the largest Bitcoin conference in the US, Bitcoin 549 00:32:30,200 --> 00:32:32,240 2024. So if you're already going to 550 00:32:32,320 --> 00:32:36,160 the Bitcoin 2024 conference in Nashville, you definitely don't 551 00:32:36,160 --> 00:32:38,760 want to miss the Pleb Party, which is a day before the 552 00:32:38,760 --> 00:32:42,760 Bitcoin Conference. It's Thursday, July 25th, It's a 553 00:32:42,760 --> 00:32:47,480 12 hour open bar from noon to midnight in Nashville. 554 00:32:47,560 --> 00:32:50,320 It's going to be hosted at an amazing venue, a rustic 555 00:32:50,320 --> 00:32:54,040 automobile factory from 1910 with brick walls and tons of 556 00:32:54,040 --> 00:32:57,840 proof of work atmosphere. Over 1000 Bitcoin plebs are 557 00:32:57,840 --> 00:33:01,520 expected to attend So far, confirmed attendees include 558 00:33:01,520 --> 00:33:04,880 Larry Leopard, Preston Pish, the entire Simply Bitcoin crew, 559 00:33:05,120 --> 00:33:09,280 James Lavish, Robert Breedlove, Mark Moss, Pubby Tatum Turnip, 560 00:33:09,400 --> 00:33:12,120 and many, many more. You won't be able to buy tickets 561 00:33:12,120 --> 00:33:14,600 at the door. Last Pleb party was completely 562 00:33:14,600 --> 00:33:17,280 sold out nine days before the event. 563 00:33:17,440 --> 00:33:22,480 There's roughly 40 tickets left at the $200.00 price point, so 564 00:33:22,680 --> 00:33:26,720 you know prices will increase the closer and closer we get to 565 00:33:26,960 --> 00:33:29,240 the Bitcoin conference. You definitely don't want to 566 00:33:29,240 --> 00:33:34,880 miss the biggest Bitcoin part pleb party of the year, the pleb 567 00:33:34,880 --> 00:33:39,880 party in Nashville, TN 2024. You can scan the QR code or 568 00:33:39,880 --> 00:33:41,680 check the link in the video description. 569 00:33:41,840 --> 00:33:44,920 Get your tickets now before they run out. 570 00:33:44,920 --> 00:33:46,800 All right everybody, let's hit the news. 571 00:33:46,800 --> 00:33:52,160 Lots to talk about the Daily News. 572 00:33:53,720 --> 00:33:57,280 I want to give a shout out to our sponsor Foundation Devices. 573 00:33:57,560 --> 00:34:00,800 It's self custody done right. They built a premium grade 574 00:34:00,800 --> 00:34:04,240 hardware wallet called Passport right here in the US. 575 00:34:04,240 --> 00:34:06,600 It's fully open source and verifiable. 576 00:34:06,800 --> 00:34:10,280 It's the most intuitive Bitcoin wallet designed with the UX 577 00:34:10,280 --> 00:34:14,040 reminiscent of a simple feature phone, so you will know how to 578 00:34:14,040 --> 00:34:16,239 navigate it and use it the moment you pick it up. 579 00:34:16,600 --> 00:34:19,840 Get your Bitcoin off exchanges and into your into your own 580 00:34:19,840 --> 00:34:22,800 hands in just a few minutes. Experience a Peace of Mind that 581 00:34:22,800 --> 00:34:25,320 comes with taking ownership of your own keys. 582 00:34:25,480 --> 00:34:30,080 After a massive sell out during Bitcoin Miami 2023, the passport 583 00:34:30,080 --> 00:34:32,960 is back in stock at foundationdevices.com. 584 00:34:33,280 --> 00:34:36,960 Bitcoin only open source verifiable completely air gap 585 00:34:37,080 --> 00:34:40,920 security model, gorgeous design craft premium grade materials. 586 00:34:41,120 --> 00:34:43,280 If you're thinking about getting your Bitcoin off exchange 587 00:34:43,360 --> 00:34:45,199 changes, this is the one for you. 588 00:34:45,400 --> 00:34:48,600 Check out the passport link in the show notes below to learn 589 00:34:48,600 --> 00:34:50,520 more. All right, everybody made it 590 00:34:50,520 --> 00:34:53,199 incredibly easy for you guys. You can scan the QR code or 591 00:34:53,199 --> 00:34:54,719 check the link in the video description. 592 00:34:55,040 --> 00:34:58,000 It'll take you directly to the Passport by Foundation Devices 593 00:34:58,000 --> 00:35:01,400 website where you guys can get yourself a Passport hardware 594 00:35:01,400 --> 00:35:03,920 wallet. Completely open source, easy to 595 00:35:03,920 --> 00:35:05,840 use. You can pair it with the Envoy 596 00:35:05,840 --> 00:35:10,160 app and it makes spending cold storage Bitcoin incredibly easy. 597 00:35:10,160 --> 00:35:13,000 Remember guys, not your keys, not your cheese. 598 00:35:13,000 --> 00:35:16,040 You can scan the QR code or check the link in the video 599 00:35:16,040 --> 00:35:18,680 description and get yourself a Passport hardware wallet. 600 00:35:18,680 --> 00:35:23,320 All right, today's topic for the news is what is Bitcoin's full 601 00:35:23,320 --> 00:35:26,160 potential valuation? Now, it's really interesting 602 00:35:26,160 --> 00:35:29,560 because how Finney originally wrote about this many, many 603 00:35:29,560 --> 00:35:32,800 years ago. This was dated January 11th, 604 00:35:32,800 --> 00:35:35,400 2009. I think the Bitcoin price was 605 00:35:35,400 --> 00:35:38,680 like a dollar back then. But this was the original post, 606 00:35:38,680 --> 00:35:42,440 which we'll get to in a second. But first, let's read Jesse 607 00:35:42,440 --> 00:35:46,080 Meyer's updated version of it, I guess you could say. 608 00:35:46,320 --> 00:35:48,720 And the question is, how high can it go? 609 00:35:48,720 --> 00:35:52,840 Where is the ceiling of Bitcoin? And he kind of breaks down the 610 00:35:52,840 --> 00:35:56,480 thought process and like where how he got to these conclusions. 611 00:35:56,600 --> 00:35:59,120 But first, it's important to give a little bit of context. 612 00:35:59,480 --> 00:36:01,640 So what market is Bitcoin competing in? 613 00:36:01,640 --> 00:36:03,880 Most people think Bitcoin has a currency. 614 00:36:03,960 --> 00:36:07,040 While this is true, it causes confusion because Bitcoin is 615 00:36:07,040 --> 00:36:10,480 more than a currency that is a store of value asset like gold. 616 00:36:10,480 --> 00:36:14,320 In truth, Bitcoin is digital gold designed to improve on gold 617 00:36:14,320 --> 00:36:16,440 strengths and solve for gold's weaknesses. 618 00:36:16,760 --> 00:36:19,600 This means that Bitcoin is competing against gold and other 619 00:36:19,600 --> 00:36:24,040 store value assets that its market value itself goes on to 620 00:36:24,040 --> 00:36:26,520 say Bitcoin is competing with store value assets. 621 00:36:26,520 --> 00:36:29,760 That means gold, but also bonds, real estate, and equities. 622 00:36:30,040 --> 00:36:33,520 In truth, it means that Bitcoin is competing with all assets 623 00:36:33,520 --> 00:36:36,680 because all assets serve as store value assets. 624 00:36:37,040 --> 00:36:39,680 Different assets have different ceilings, meaning the percentage 625 00:36:39,680 --> 00:36:42,920 of the global asset pie they could ever be, they could ever 626 00:36:42,920 --> 00:36:45,600 realistically be. This is because the valuation of 627 00:36:45,600 --> 00:36:48,600 each asset category is constrained by key variables in 628 00:36:48,600 --> 00:36:50,880 their respective valuation equations. 629 00:36:51,280 --> 00:36:54,240 The value of a company is determined by two major inputs. 630 00:36:54,440 --> 00:36:58,000 It's expected future cash flows and the discount rate for those 631 00:36:58,000 --> 00:37:00,000 cash. Cash flows. 632 00:37:00,200 --> 00:37:02,040 For real estate, it's a similar story. 633 00:37:02,040 --> 00:37:05,040 Global real estate value is constrained by expected future 634 00:37:05,040 --> 00:37:09,480 cash flows, mortgage rates, and the amount of new supply being 635 00:37:09,480 --> 00:37:12,360 created. Commodities are different in the 636 00:37:12,360 --> 00:37:15,760 sense that interest rates are not a primary input that helps 637 00:37:15,760 --> 00:37:17,840 to establish a ceiling for valuations. 638 00:37:18,040 --> 00:37:21,880 Instead, commodity valuations are primarily constrained by new 639 00:37:21,880 --> 00:37:24,440 supply. For instance, with gold, global 640 00:37:24,440 --> 00:37:28,440 mining efforts collectively add 2% per year to above ground 641 00:37:28,440 --> 00:37:31,200 supply. The steady 2% annual supply 642 00:37:31,200 --> 00:37:34,680 growth has been true for the last century as the low hanging 643 00:37:34,680 --> 00:37:36,760 fruits of gold deposits have been plucked. 644 00:37:37,000 --> 00:37:40,680 Technology has unlocked has unlocked access to previously 645 00:37:40,680 --> 00:37:44,680 unreachable deposits. At 12 trillion in total above 646 00:37:44,680 --> 00:37:48,400 ground gold, that means the global market cap must absorb 647 00:37:48,400 --> 00:37:52,080 240 billion and new supply every year. 648 00:37:52,320 --> 00:37:55,520 This downward pressure on gold's price acts like the force of 649 00:37:55,520 --> 00:37:58,760 gravity, keeping gold's value constraint by the realities of 650 00:37:58,760 --> 00:38:02,040 supply and demand. What makes Bitcoin so different 651 00:38:02,320 --> 00:38:05,840 is that the market has to absorb half as much new supply from 652 00:38:05,840 --> 00:38:10,800 mining every four years. In 2016, that was 3.6% annual 653 00:38:10,800 --> 00:38:15,440 supply growth, Today 1.8%. In 2024, we're currently here 654 00:38:15,640 --> 00:38:21,240 .9%, in 2028.45%. And nobody on earth can alter 655 00:38:21,240 --> 00:38:24,920 that relentless March either. Metaphorically speaking, gravity 656 00:38:24,920 --> 00:38:27,520 gets cut in half every four years for Bitcoin. 657 00:38:27,800 --> 00:38:30,040 Therefore, the variable that typically constraints the 658 00:38:30,040 --> 00:38:35,000 valuation of commodities shrinks to zero over time, goes on to 659 00:38:35,000 --> 00:38:38,560 say, to put it simply, there's a fixed supply of them and they're 660 00:38:38,560 --> 00:38:42,320 getting more and more scarce. So you guys have seen this for 661 00:38:42,320 --> 00:38:44,520 audio listeners, here's a graph, right? 662 00:38:44,520 --> 00:38:48,640 It shows the Bitcoin subsidy and then over time that subsidy 663 00:38:48,640 --> 00:38:52,200 keeps getting cut in half. That is absolute scarcity. 664 00:38:52,320 --> 00:38:56,360 Not only absolute scarcity, but also increasing scarcity. 665 00:38:56,520 --> 00:38:58,360 Here's a quote from Satoshi Nakamoto. 666 00:38:58,360 --> 00:39:02,080 He goes on to say as the number of users grow, the value per 667 00:39:02,080 --> 00:39:04,440 coin increases. It has the potential for a 668 00:39:04,440 --> 00:39:08,040 positive feedback loop. As users increase, the value 669 00:39:08,040 --> 00:39:11,560 goes up, which could attract more users to take advantage of 670 00:39:11,560 --> 00:39:15,120 the increasing value. Satoshi Nakamoto February 18th 671 00:39:15,280 --> 00:39:18,920 2009 goes on to say there's a lot of wealth out there. 672 00:39:19,000 --> 00:39:22,480 All of it is sitting in assets of one kind or another. 673 00:39:22,720 --> 00:39:25,880 But what does the full picture of the global asset landscape 674 00:39:25,880 --> 00:39:28,360 look like? Incredibly, there doesn't seem 675 00:39:28,360 --> 00:39:31,240 to be a simple high level view of this anywhere. 676 00:39:31,400 --> 00:39:35,160 So I spent the day researching and gathering data in 2021 and 677 00:39:35,160 --> 00:39:37,680 have updated that analysis for 20/23. 678 00:39:38,040 --> 00:39:41,840 Here's the result. Obviously the Bitcoin market cap 679 00:39:41,840 --> 00:39:46,160 is currently sitting at 1.341 point 3-4 trillion. 680 00:39:46,440 --> 00:39:50,520 Gold is currently sitting at 15 trillion, but it's roughly the 681 00:39:50,520 --> 00:39:53,440 same. Art is 18 trillion, collectibles 682 00:39:53,440 --> 00:39:58,360 16 trillion, equities 115 trillion, real estate 330 683 00:39:58,360 --> 00:40:02,880 trillion, bonds 300 trillion, money 120 trillion. 684 00:40:02,880 --> 00:40:05,720 Now, very common sense observation here. 685 00:40:05,800 --> 00:40:07,680 I think Bitcoin is better than gold. 686 00:40:07,800 --> 00:40:09,520 I think Bitcoin is better than real estate. 687 00:40:09,520 --> 00:40:11,520 Obviously everyone needs a roof over their head. 688 00:40:11,800 --> 00:40:14,880 But in terms of using real estate as a store of value, I 689 00:40:14,880 --> 00:40:18,360 think Bitcoin is superior. Bitcoin, I think is obviously 690 00:40:18,360 --> 00:40:20,480 superior to bonds in every which way. 691 00:40:20,720 --> 00:40:22,160 That doesn't need an explanation. 692 00:40:22,360 --> 00:40:24,880 And obviously Bitcoin is the best money the world has ever 693 00:40:24,880 --> 00:40:26,680 seen. So do a little bit of simple 694 00:40:26,680 --> 00:40:29,760 math, everyone, right? And so if the Bitcoin market cap 695 00:40:29,760 --> 00:40:33,520 is sitting roughly at 1.34 trillion and there's 900 696 00:40:33,520 --> 00:40:39,440 trillion in total total global assets, I mean, you can just 697 00:40:39,840 --> 00:40:42,960 make do some quick math in your head and see where this is 698 00:40:42,960 --> 00:40:44,920 going. Anyways, Bitcoin's total 699 00:40:44,920 --> 00:40:47,520 addressable market is the world's balance sheet. 700 00:40:47,520 --> 00:40:50,840 All 900 trillion of it. Any of the store, any of the 701 00:40:50,840 --> 00:40:54,600 value stored in some particular asset could theoretically be 702 00:40:54,600 --> 00:40:57,680 reallocated to Bitcoin. Instead, all it takes is for 703 00:40:57,680 --> 00:41:00,360 individuals to decide that Bitcoin is a better asset to 704 00:41:00,360 --> 00:41:02,600 hold than what they are currently holding. 705 00:41:03,000 --> 00:41:05,400 With that in mind, we have to ask ourselves an important 706 00:41:05,400 --> 00:41:07,560 question. When Bitcoin's mechanics 707 00:41:07,560 --> 00:41:13,800 continue to play out, will more than .05% of the of the world's 708 00:41:13,800 --> 00:41:17,680 capital eventually realize it it wants to be in an asset like 709 00:41:17,680 --> 00:41:19,480 that? I think the only logical 710 00:41:19,480 --> 00:41:22,640 conclusion is yes. What is Bitcoin's full price 711 00:41:22,640 --> 00:41:25,160 potential? Bitcoin enthusiasts often make 712 00:41:25,160 --> 00:41:28,200 the mistake of concluding that Bitcoin's potential valuation is 713 00:41:28,200 --> 00:41:30,560 infinite. This is true in dollar terms, 714 00:41:30,560 --> 00:41:33,960 since there is no limit to the amount of dollar debasement that 715 00:41:33,960 --> 00:41:38,040 could occur into the future, but it is unrealistic in real terms 716 00:41:38,040 --> 00:41:41,560 relative to other assets. The truth is that Bitcoin stands 717 00:41:41,560 --> 00:41:45,360 in relative competition with other store value assets, all of 718 00:41:45,360 --> 00:41:47,440 which have unique value propositions. 719 00:41:47,680 --> 00:41:51,160 A wealthy individual is not very likely to sell their mansion or 720 00:41:51,160 --> 00:41:54,720 their prize Rembrandt to buy Bitcoin, but is instead more 721 00:41:54,720 --> 00:41:57,680 likely to sell some of their bond portfolio because they 722 00:41:57,680 --> 00:42:01,120 believe Bitcoin better fulfils the intended purpose of holding 723 00:42:01,120 --> 00:42:03,520 bonds. By addressing each store of 724 00:42:03,520 --> 00:42:06,840 value asset bucket, it's possible to estimate what 725 00:42:06,840 --> 00:42:10,080 percentage of the value stored in each will be reallocated to 726 00:42:10,080 --> 00:42:12,280 Bitcoin. Once the world collectively 727 00:42:12,280 --> 00:42:15,840 understands Bitcoin's unparalleled properties, the 728 00:42:15,840 --> 00:42:19,760 exercise ultimately yields a full potential valuation of for 729 00:42:19,760 --> 00:42:23,000 Bitcoin in today's dollars. Here's what I think is a 730 00:42:23,000 --> 00:42:26,640 reasonable, even conservative estimate of Bitcoin's full 731 00:42:26,640 --> 00:42:30,560 potential, Right. So out of the 900 trillion here 732 00:42:30,560 --> 00:42:33,640 Jesse Myers is making the argument that he believes that 733 00:42:33,640 --> 00:42:38,680 Bitcoin could potentially capture 200 trillion of that 900 734 00:42:38,840 --> 00:42:42,600 trillion, and that would put the price of Bitcoin at roughly $10 735 00:42:42,600 --> 00:42:47,080 million per coin. So he goes on to say my 736 00:42:47,080 --> 00:42:50,440 conservative estimate suggested an outrageous full potential for 737 00:42:50,440 --> 00:42:54,720 bitcoins price, $10 million per Bitcoin in today's dollars. 738 00:42:54,960 --> 00:42:58,680 To put this in another way, I believe Bitcoin's full potential 739 00:42:58,680 --> 00:43:02,560 is to eat 25% of the world's value. 740 00:43:02,760 --> 00:43:06,760 Now what's really interesting also is that how Finney was 741 00:43:06,760 --> 00:43:10,240 talking about this many, many, many years ago, and he goes on 742 00:43:10,240 --> 00:43:13,560 to say, as an amusing thought experiment, imagine that Bitcoin 743 00:43:13,560 --> 00:43:16,880 is successful and becomes the dominant payment system in use 744 00:43:16,880 --> 00:43:19,240 throughout the world. Then the total value of the 745 00:43:19,240 --> 00:43:22,400 currency should be equal to the total value of all the wealth in 746 00:43:22,400 --> 00:43:24,680 the world. Current estimates of total 747 00:43:24,880 --> 00:43:28,000 worldwide household wealth that I have found range from 100 748 00:43:28,000 --> 00:43:31,880 trillion to 300 trillion. With 20 million coins, that 749 00:43:31,880 --> 00:43:35,960 gives each coin a value of about 10 million. 750 00:43:36,200 --> 00:43:39,920 Now here's like a simple thing that I did very, very quickly, 751 00:43:40,080 --> 00:43:42,880 right? And let's let's say it doesn't 752 00:43:43,080 --> 00:43:46,520 reach those hundreds of trillions of dollars, Mark, 753 00:43:46,520 --> 00:43:50,760 let's say just reaches the market cap of gold roughly 754 00:43:50,760 --> 00:43:52,840 Bitcoin market cap right now is 100. 755 00:43:52,880 --> 00:43:56,920 I kind of messed this around. Let's just say to round it up, 756 00:43:56,920 --> 00:43:58,960 even though the math might be wrong 'cause I had to change the 757 00:43:59,160 --> 00:44:02,240 the Bitcoin market cap 'cause it fluctuated anyways. 758 00:44:02,400 --> 00:44:06,760 So Bitcoin's market cap is 1.34 trillion, Gold's market cap is 759 00:44:06,760 --> 00:44:09,960 15 trillion. Just if Bitcoin reaches the gold 760 00:44:09,960 --> 00:44:13,320 market cap, that would put the price of Bitcoin at roughly 761 00:44:13,480 --> 00:44:18,560 $750,000 per Bitcoin. So I mean, what is that more 762 00:44:18,560 --> 00:44:20,720 than a 10X from here? I think that's still an 763 00:44:20,720 --> 00:44:24,000 incredible opportunity. And I think that's literally why 764 00:44:24,000 --> 00:44:26,440 it makes it one of the best savings technology the world has 765 00:44:26,440 --> 00:44:28,400 ever seen. But anyways, it's kind of like 766 00:44:28,400 --> 00:44:30,960 an interesting conversation, especially from house 767 00:44:30,960 --> 00:44:35,560 perspective. Man, back in 2000, 2009, when he 768 00:44:35,560 --> 00:44:39,920 was saying that a 2011, the price of Bitcoin wasn't even at 769 00:44:39,920 --> 00:44:42,040 a dollar. It was like barely at a dollar. 770 00:44:42,280 --> 00:44:46,880 And you know, he was saying these astronomical type of 771 00:44:47,040 --> 00:44:50,560 predictions and types of things that where he believed it was 772 00:44:50,560 --> 00:44:53,200 going definitely before his time. 773 00:44:53,440 --> 00:44:56,360 But I love how Jesse kind of broke down what the thought 774 00:44:56,360 --> 00:45:00,080 process was behind this, broke down all the different assets, 775 00:45:00,240 --> 00:45:02,760 broke down, you know, all the different kind of stores of 776 00:45:02,760 --> 00:45:05,640 value that a lot of wealthy people are using just to 777 00:45:05,640 --> 00:45:09,200 maintain their purchasing power. But what's really interesting to 778 00:45:09,200 --> 00:45:17,440 me is once again, the once again is I think Bitcoin's superior to 779 00:45:17,440 --> 00:45:20,560 real estate. I think Bitcoin's superior to to 780 00:45:20,560 --> 00:45:23,880 any of the world's currencies. I think Bitcoin is superior to 781 00:45:23,880 --> 00:45:27,840 gold, you know, like I think it's just a better store of 782 00:45:27,840 --> 00:45:29,960 value. So I think it's just a matter of 783 00:45:29,960 --> 00:45:32,080 time before the rest of the world realizes that. 784 00:45:32,240 --> 00:45:35,120 And I think the this process is already playing out. 785 00:45:35,880 --> 00:45:38,680 Why do I say that? You have Wells Fargo, you have 786 00:45:38,680 --> 00:45:42,440 JP Morgan, all, you know, getting exposure to the Bitcoin 787 00:45:42,440 --> 00:45:44,920 spot, Bitcoin ETF. Of course, you have the 788 00:45:44,920 --> 00:45:48,000 Wisconsin pension fund, you know, purchasing. 789 00:45:48,000 --> 00:45:51,800 There we go XX. Thank you, $783,000 per coin. 790 00:45:52,000 --> 00:45:55,320 Thank you XX. And you have the Wisconsin 791 00:45:55,320 --> 00:45:57,360 pension fund getting exposure to Bitcoin. 792 00:45:57,520 --> 00:46:01,720 You have Michael Saylor proving that his Bitcoin strategy is 793 00:46:01,720 --> 00:46:05,960 beating the S&P 500. It's beating, you know, the all 794 00:46:05,960 --> 00:46:09,160 the tech stocks. So clearly the Bitcoin strategy 795 00:46:09,160 --> 00:46:12,440 is the best strategy. And you know, these numbers 796 00:46:12,440 --> 00:46:16,240 sound absolutely crazy, but at the same time, if I told you 797 00:46:16,240 --> 00:46:20,280 that Bitcoin was going to be sitting at 67,000 dollars back 798 00:46:20,280 --> 00:46:23,680 when Hal Finney was writing this piece, when Bitcoin was like 100 799 00:46:23,680 --> 00:46:26,680 a dollar, $100, you would have laughed me out of the room. 800 00:46:26,680 --> 00:46:28,720 You would have thought I was absolutely crazy. 801 00:46:28,920 --> 00:46:31,440 So yeah, that's my take on all this. 802 00:46:31,520 --> 00:46:34,080 I know this is a topic that you guys really enjoy 'cause you 803 00:46:34,080 --> 00:46:36,960 guys really enjoy every time we do an episode on this. 804 00:46:36,960 --> 00:46:39,640 So I want to get Anita. Anita, what are your thoughts on 805 00:46:39,640 --> 00:46:41,200 this? Does it even matter? 806 00:46:41,320 --> 00:46:45,200 What are your thoughts? Yeah, we all live on opium, 807 00:46:45,240 --> 00:46:50,280 don't we? I mean, of course, that's a 808 00:46:50,280 --> 00:46:53,080 great thing to have. You know, I mean, the hope that 809 00:46:53,080 --> 00:46:57,880 Bitcoin will go to those valuations. 810 00:46:58,120 --> 00:47:02,760 But for me, it's also very, very, very important that it's a 811 00:47:03,120 --> 00:47:08,000 perfect medium of exchange. And this brings into play all 812 00:47:08,000 --> 00:47:11,240 these billions of people who are disadvantaged at the moment 813 00:47:11,680 --> 00:47:16,240 because their countries don't allow them, for instance, to 814 00:47:16,240 --> 00:47:18,640 send money freely in and out of the country. 815 00:47:18,920 --> 00:47:21,640 And that's not only in authoritarian settings, that's 816 00:47:21,640 --> 00:47:25,120 also in our countries. It's not so easy to move your 817 00:47:25,120 --> 00:47:30,320 wealth to another country. If you want to exit your own 818 00:47:30,320 --> 00:47:33,440 home country or something, go to a brighter place if you found 819 00:47:33,440 --> 00:47:39,360 one and especially like as an example, in Zimbabwe and all 820 00:47:39,360 --> 00:47:44,760 other countries like Nigeria or Ghana, you have weekly and 821 00:47:44,760 --> 00:47:49,840 monthly limits how much you are allowed to pay from your bank 822 00:47:49,840 --> 00:47:54,600 account via digital money or mobile money or your banking 823 00:47:55,160 --> 00:47:59,760 online banking account. You have limits on how much you 824 00:47:59,800 --> 00:48:03,720 are allowed to withdraw in cash. In Zimbabwe. 825 00:48:03,720 --> 00:48:07,000 You very often have ATMs that are empty. 826 00:48:07,400 --> 00:48:12,960 And so if you send money on a regular basis out of the 827 00:48:12,960 --> 00:48:16,200 country, out of Zimbabwe to maybe you have a freelancer in 828 00:48:16,200 --> 00:48:20,360 Kenya or in Nigeria and you want to send them money, it's very 829 00:48:20,360 --> 00:48:23,840 difficult because no one wants the local currency. 830 00:48:23,920 --> 00:48:26,440 The now it's called the Zimbabwe gold. 831 00:48:26,880 --> 00:48:29,560 Before it was the Zimbabwean dollar because of the high 832 00:48:29,560 --> 00:48:35,000 inflation, but then also you mostly don't have ULS dollar 833 00:48:35,000 --> 00:48:38,080 bank accounts. And because Zimbabwe is 834 00:48:38,080 --> 00:48:44,760 sanctioned, as soon as you want to have a bank account or a 835 00:48:44,760 --> 00:48:47,880 crypto exchange account somewhere and they see you're 836 00:48:47,880 --> 00:48:50,160 from Zimbabwe, you're kicked out of the system. 837 00:48:50,800 --> 00:48:54,800 So you try to send your money in a way I don't know how. 838 00:48:54,800 --> 00:48:59,160 Yeah, definitely not with PayPal to Ghana or Kenya. 839 00:48:59,160 --> 00:49:04,200 And when you do that more often, the police Bureau, so basically 840 00:49:04,200 --> 00:49:09,280 the the Stasi of Zimbabwe comes to you and says, why are you 841 00:49:09,280 --> 00:49:12,440 sending money out of the country that often? 842 00:49:12,720 --> 00:49:15,680 That's very unpatriotic. You shouldn't do that. 843 00:49:15,960 --> 00:49:21,600 So you don't have any freedom of, of exchange, our freedom of 844 00:49:21,600 --> 00:49:25,280 transaction there. And that's the reason why 845 00:49:25,280 --> 00:49:28,880 Bitcoin is such a great tool, because no one can stop it. 846 00:49:28,880 --> 00:49:33,040 No, no government, no dictator can stop you from using it. 847 00:49:33,560 --> 00:49:38,320 And that's also the reason why I fear, I mean, we have a lot of 848 00:49:38,320 --> 00:49:43,360 attacks on Bitcoin onto cryptocurrencies in the US, you 849 00:49:43,360 --> 00:49:46,840 know, better than I do, but also in the European Union at the 850 00:49:46,840 --> 00:49:51,120 moment. And also regarding the price of 851 00:49:51,120 --> 00:49:54,960 Bitcoin, if more people use Bitcoin as a medium of exchange 852 00:49:55,280 --> 00:49:59,560 to spend it so that others can earn it, we will all also have 853 00:49:59,560 --> 00:50:02,800 more adoption from that side, which will also make the price 854 00:50:02,800 --> 00:50:06,640 go up. And that's why I think it's very 855 00:50:06,640 --> 00:50:10,360 important to spend also, I mean spend and replace, you know, 856 00:50:10,360 --> 00:50:16,160 your stack. And so Speaking of African 857 00:50:16,160 --> 00:50:20,400 adoption, I think it's very interesting that in Nigeria, for 858 00:50:20,400 --> 00:50:25,600 instance, Nigeria has the highest share of Bitcoin 859 00:50:25,600 --> 00:50:29,640 transactions from the total cryptocurrency volume. 860 00:50:29,960 --> 00:50:31,880 It's higher than in North America. 861 00:50:31,880 --> 00:50:35,040 That's very interesting. And so a lot of people in 862 00:50:35,040 --> 00:50:42,560 Nigeria looking to to hedge against inflation and, and to be 863 00:50:42,560 --> 00:50:45,080 able to freely transact with Bitcoin. 864 00:50:46,040 --> 00:50:51,760 And so now the government in Nigeria has basically again 865 00:50:51,840 --> 00:50:55,960 banned Bitcoin peer-to-peer usage. 866 00:50:56,440 --> 00:50:58,560 I don't know how they really want to ban it. 867 00:50:59,080 --> 00:51:06,720 And they said the ban is because cryptocurrency is a national 868 00:51:06,720 --> 00:51:09,560 security threat exactly because of that. 869 00:51:09,560 --> 00:51:15,360 What your senator also said, they say it's because the 870 00:51:16,360 --> 00:51:22,560 peer-to-peer market influences the price of the local currency, 871 00:51:22,560 --> 00:51:25,960 the naira downwards. So they blame it on 872 00:51:25,960 --> 00:51:27,920 cryptocurrencies, which is a joke. 873 00:51:27,920 --> 00:51:31,280 They just don't want it because they know that people exit their 874 00:51:31,280 --> 00:51:35,960 corrupted system via Bitcoin and other cryptocurrencies and they 875 00:51:35,960 --> 00:51:40,320 go to that, that they, I don't know, I guess you know that in 876 00:51:40,320 --> 00:51:45,760 March they asked to finance managers to come to Nigeria to 877 00:51:45,760 --> 00:51:50,360 discuss because Nigeria doesn't want finance in the country 878 00:51:50,360 --> 00:51:54,640 anymore. And so those two managers came 879 00:51:54,720 --> 00:51:59,880 to Nigeria and to discuss with authorities and they were 880 00:51:59,880 --> 00:52:04,520 immediately detained. So one of those managers was 881 00:52:04,520 --> 00:52:08,520 able to flee, but the other one is still hailed in Nigeria. 882 00:52:09,000 --> 00:52:15,160 And so they really wanna, they basically kidnapped him to to 883 00:52:15,680 --> 00:52:18,000 bring finance to do what they want. 884 00:52:18,080 --> 00:52:23,400 Yeah. And so countries and, and not 885 00:52:23,400 --> 00:52:28,280 only those countries, but also in Europe, I see a lot of 886 00:52:28,840 --> 00:52:34,120 appointment against Bitcoin and especially privacy. 887 00:52:34,200 --> 00:52:36,240 Yeah, which is actually a human right. 888 00:52:37,000 --> 00:52:40,160 But we don't have that anymore it seems. 889 00:52:40,440 --> 00:52:47,520 And that varies me a lot. So I really do hope that like 890 00:52:47,520 --> 00:52:55,160 regulators or or we, we the people protest against those 891 00:52:55,160 --> 00:52:58,720 developments. But sometimes I'm a little 892 00:52:58,720 --> 00:53:00,760 pessimistic, to be honest. Yeah. 893 00:53:00,880 --> 00:53:03,360 And and that's a really good point and especially the the 894 00:53:03,360 --> 00:53:05,680 Nigeria one because it's something that we've been 895 00:53:05,680 --> 00:53:10,240 covering on simply which is like the they rolled out a central 896 00:53:10,240 --> 00:53:14,560 bank digital currency, it was not popular and then they 897 00:53:14,560 --> 00:53:18,440 started, you know, increasing the capital controls and they 898 00:53:18,440 --> 00:53:21,480 blamed finance basically is finance. 899 00:53:21,480 --> 00:53:26,080 You guys are the reason why, you know, you know why the, the, the 900 00:53:26,080 --> 00:53:30,120 naira is, you know, inflating. It's something actually very 901 00:53:30,120 --> 00:53:34,280 similar to what you see all over the world where governments 902 00:53:34,280 --> 00:53:39,320 blame everyone and anything but themselves for inflation, even 903 00:53:39,320 --> 00:53:42,480 though they're the sole cause because they're the ones that 904 00:53:42,480 --> 00:53:45,080 are printing, that are debasing the currency. 905 00:53:45,320 --> 00:53:48,600 I really see Nigeria as kind of like this foreshadowing of what 906 00:53:48,600 --> 00:53:52,880 could potentially happen for the rest of the world, you know, as 907 00:53:52,880 --> 00:53:57,000 governments get more trapped into a corner and, and like the, 908 00:53:57,040 --> 00:54:00,320 the hubris of, of, of Brad Sherman when he was talking 909 00:54:00,320 --> 00:54:03,360 about that, you know, and then there's very famous videos of 910 00:54:03,360 --> 00:54:07,280 him earlier on basically saying like, you know what, like they 911 00:54:07,280 --> 00:54:10,200 think they can print money. We can print money because we're 912 00:54:10,200 --> 00:54:12,640 the US government. He's just so sure of himself. 913 00:54:12,640 --> 00:54:16,880 He's just so confident himself. But again, you know, in the US, 914 00:54:17,120 --> 00:54:21,320 OK, when, you know, things got bad, we hit 9% inflation, 8% 915 00:54:21,320 --> 00:54:23,920 inflation. But in these countries, you're 916 00:54:23,920 --> 00:54:26,960 talking about double digit inflation on a monthly basis. 917 00:54:27,560 --> 00:54:33,400 People cannot live with that level of, of currency 918 00:54:33,400 --> 00:54:35,680 debasement. People start saving and 919 00:54:35,680 --> 00:54:37,840 alternative things. Like I know in Venezuela, one of 920 00:54:37,840 --> 00:54:40,720 the things that they, that people do is that they would buy 921 00:54:41,440 --> 00:54:44,960 dishwashers and, and washing machines and they would store 922 00:54:44,960 --> 00:54:49,760 them or cars because the car, which is a depreciating asset 923 00:54:50,000 --> 00:54:54,440 would hold more value than, you know, the inflating local 924 00:54:54,440 --> 00:54:58,000 currency. So 100% agree with you, Anita 925 00:54:58,000 --> 00:55:00,440 and and I, and I want to hear more about it specifically 926 00:55:00,440 --> 00:55:03,880 during the culture segment. But before we get to that Opti, 927 00:55:04,000 --> 00:55:07,320 you have some quick thoughts. Then we'll go on to to to the 928 00:55:07,320 --> 00:55:09,800 ads, the transition and then back to Anita. 929 00:55:10,360 --> 00:55:13,520 Yeah, well, my, my favorite part about the how Finney post, 930 00:55:13,520 --> 00:55:16,960 especially the first one in 2009, is just how bullish how 931 00:55:16,960 --> 00:55:18,680 Finney was. You know, like Bitcoin didn't 932 00:55:18,680 --> 00:55:20,520 even have a price set. And he's like, yeah, we're going 933 00:55:20,520 --> 00:55:22,360 to $10 million. Like this is my price 934 00:55:22,360 --> 00:55:24,520 prediction. Here's my math behind it. 935 00:55:24,760 --> 00:55:27,200 And it really reminds me of what CK always says, like we're not 936 00:55:27,200 --> 00:55:29,560 bullish enough. Be like how guys, stay bullish, 937 00:55:29,560 --> 00:55:32,640 stay stupidly bullish. This is the way, but kind of 938 00:55:32,640 --> 00:55:34,920 going back to what Jesse was saying, I'm I'm kind of getting 939 00:55:34,920 --> 00:55:37,000 turned off by the digital gold meme. 940 00:55:38,240 --> 00:55:40,960 You know, I think it's a good way to kind of wrap your head 941 00:55:40,960 --> 00:55:43,640 around what Bitcoin is. But as Anita was saying, it's 942 00:55:43,640 --> 00:55:45,200 like Bitcoin is the best money, period. 943 00:55:45,480 --> 00:55:49,120 And the function of money is of course, three-part, like one is 944 00:55:49,120 --> 00:55:52,480 the store value, another is to be used as a medium exchange, 945 00:55:52,800 --> 00:55:55,320 and the third one is as a unit of account. 946 00:55:55,320 --> 00:55:56,920 And Bitcoin is all of these things. 947 00:55:56,920 --> 00:56:01,280 And so I think using these mechanisms to try to wrap your 948 00:56:01,280 --> 00:56:03,560 head around what Bitcoin is, it's, it's kind of a good 949 00:56:03,560 --> 00:56:05,680 stepping stone. But after a certain point, you 950 00:56:05,680 --> 00:56:07,760 realize, like Bitcoin is the best money period. 951 00:56:07,960 --> 00:56:11,440 And yes, of course, you know, I think the numbers now that that 952 00:56:11,520 --> 00:56:13,640 Jesse was using, and we've been using for a while, it's like 953 00:56:13,640 --> 00:56:16,240 $900 trillion of total assets in the world. 954 00:56:16,680 --> 00:56:19,680 And if Bitcoin takes a small portion of that and, and as a 955 00:56:19,680 --> 00:56:22,480 Bitcoiner, of course, we think that it'll take a large portion 956 00:56:22,480 --> 00:56:25,680 of that, then of course the price is going to go up forever, 957 00:56:25,680 --> 00:56:28,280 as the meme goes. But I think, you know, 958 00:56:28,280 --> 00:56:32,640 simplifying this is and of course ADIQ Bitcoiner, Bitcoin 959 00:56:32,640 --> 00:56:34,480 has no ceiling because Fiat has no floor. 960 00:56:34,480 --> 00:56:36,840 Like it's Infinity divided by 21 million. 961 00:56:37,080 --> 00:56:40,120 Always remember that, that they will continue to print money as 962 00:56:40,120 --> 00:56:43,680 long as they're capable of. And once people wake up, they'll 963 00:56:43,680 --> 00:56:46,000 go into Bitcoin. And like Anita was saying, once 964 00:56:46,000 --> 00:56:49,160 more people adopt Bitcoin, then the price will continue to go 965 00:56:49,160 --> 00:56:51,680 up. And I think one of my favorite 966 00:56:51,680 --> 00:56:54,560 things when we talk about this is the idea, and I think a lot 967 00:56:54,560 --> 00:56:57,960 of people miss this, is that yes, the global wealth pie right 968 00:56:57,960 --> 00:57:02,360 now might be 900 trillion, but it that's, that pie is not going 969 00:57:02,360 --> 00:57:05,120 to stay stagnant. As we create new technology, as 970 00:57:05,120 --> 00:57:07,320 more value is created, the pie will get bigger. 971 00:57:07,320 --> 00:57:10,840 So that's even more bullish for Bitcoin because Bitcoin will 972 00:57:10,840 --> 00:57:14,320 take a portion of the global pie as it's expanding and the 973 00:57:14,320 --> 00:57:16,120 Bitcoin price in the Bitcoin market cap. 974 00:57:16,480 --> 00:57:19,360 Well, of course, increase with that as well. 975 00:57:19,360 --> 00:57:23,080 So I think it's very important for everyone and I know you you 976 00:57:23,080 --> 00:57:25,120 might get you might get some Flack from people like you're 977 00:57:25,120 --> 00:57:28,920 too bullish, but I think you need to maintain being extremely 978 00:57:28,920 --> 00:57:31,720 bullish on Bitcoin, not just for the price, but just for a more 979 00:57:31,720 --> 00:57:34,720 hopeful future. Bitcoin will improve society. 980 00:57:34,720 --> 00:57:36,880 It will improve every aspect of society. 981 00:57:36,880 --> 00:57:39,040 As we always say, fix the money, fix the world. 982 00:57:39,280 --> 00:57:44,760 So as we move into the future, Bitcoin price of course will go 983 00:57:44,760 --> 00:57:47,720 up, but things will get better. And if that doesn't make you 984 00:57:47,800 --> 00:57:50,000 bullish on Bitcoin, if that doesn't make you bullish on what 985 00:57:50,000 --> 00:57:53,320 we're doing here, then you got to go back to your fundamentals 986 00:57:53,320 --> 00:57:56,920 and and you know, study a little bit of what actually is going to 987 00:57:56,920 --> 00:58:00,280 happen with Bitcoin. So of course, as the chat always 988 00:58:00,280 --> 00:58:03,880 says to us and always trolls us is the true value of Bitcoin is 989 00:58:03,880 --> 00:58:06,640 Infinity dollars per SAT because it's going up forever, because 990 00:58:06,640 --> 00:58:08,120 they'll continue to print more money. 991 00:58:08,760 --> 00:58:12,080 But kind of going down the thread that Jesse was was going 992 00:58:12,080 --> 00:58:13,840 down. I think it's very important to 993 00:58:13,840 --> 00:58:17,320 remind people if that is the framework that they want to use, 994 00:58:17,320 --> 00:58:19,960 that Bitcoin is the best performing asset of the last 15 995 00:58:19,960 --> 00:58:21,480 years. And I think it will continue to 996 00:58:21,480 --> 00:58:23,880 be the best performing asset moving forward. 997 00:58:23,880 --> 00:58:27,840 So it's very important for people to get off 0 to, to save 998 00:58:27,840 --> 00:58:31,280 in Bitcoin because if you are an average person, you're trying to 999 00:58:31,280 --> 00:58:34,160 save in in dollars like you're getting absolutely decimated. 1000 00:58:34,560 --> 00:58:36,760 And this is what it's all about. It's protecting yourself. 1001 00:58:36,760 --> 00:58:40,320 They cannot debase Bitcoin. They're constantly debasing your 1002 00:58:40,320 --> 00:58:43,040 favorite way to store value as an average person. 1003 00:58:43,360 --> 00:58:46,480 And this is about self preservation at the very end of 1004 00:58:46,480 --> 00:58:49,560 the day, Yes, it's about censorship resistant money, 1005 00:58:50,160 --> 00:58:54,520 permissionless money, but it's also about saving your wealth so 1006 00:58:54,520 --> 00:58:57,360 that it doesn't get the base, so you're not holding melting ice 1007 00:58:57,360 --> 00:58:59,360 cubes. And I think we're seeing this 1008 00:58:59,360 --> 00:59:02,280 start to catch on. So the frameworks, what what's 1009 00:59:02,280 --> 00:59:04,320 that meme? All your models are destroyed. 1010 00:59:04,600 --> 00:59:07,880 So like the frameworks get you through the door so that you can 1011 00:59:07,880 --> 00:59:10,080 start to wrap your head around what's going on. 1012 00:59:10,240 --> 00:59:13,160 But once you really understand Bitcoin, it's, I think it's 1013 00:59:13,160 --> 00:59:16,920 extremely difficult to not stay bullish about where we're going 1014 00:59:16,920 --> 00:59:20,320 as Bitcoiners and where the world's going on a big Bitcoin 1015 00:59:20,320 --> 00:59:23,240 standard or as Bitcoin being a store of value. 1016 00:59:23,600 --> 00:59:27,720 And that I think that is the best way to spread this message 1017 00:59:27,720 --> 00:59:31,120 to people is just like, I am optimistic about the future 1018 00:59:31,120 --> 00:59:33,560 while everyone else is pessimistic about the future. 1019 00:59:33,560 --> 00:59:35,920 This is how you spread the signal as being like, look, in 1020 00:59:35,920 --> 00:59:39,200 the face of all this crazy stuff, the world will get 1021 00:59:39,200 --> 00:59:41,120 better. And it starts with fixing the 1022 00:59:41,120 --> 00:59:42,840 money because that's how we fix the world. 1023 00:59:43,200 --> 00:59:44,960 Absolutely. All right everybody, before we 1024 00:59:44,960 --> 00:59:47,800 get on to the culture segment, I do want a very special shout out 1025 00:59:47,800 --> 00:59:50,920 to our sponsor, the orange Palaps stack friends who stack 1026 00:59:50,920 --> 00:59:53,880 sats. The orange Palap is the Bitcoin 1027 00:59:53,880 --> 00:59:56,280 social layer. Find local bit corners, events 1028 00:59:56,280 --> 01:00:01,000 and merchants near you. 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Let's go. 1066 01:01:59,080 --> 01:02:02,440 OK. So Anita, super glad to have you 1067 01:02:02,440 --> 01:02:05,000 and and I want to kind of circle back to the conversation we were 1068 01:02:05,000 --> 01:02:08,080 just having and you did kind of mention a few things that I 1069 01:02:08,080 --> 01:02:12,840 wanted to talk about. And one is the attack on privacy 1070 01:02:12,840 --> 01:02:15,560 at large and of course on Bitcoin privacy in general. 1071 01:02:15,840 --> 01:02:20,360 But you did do a really great documentary last year about how 1072 01:02:20,360 --> 01:02:23,800 Bitcoin enforces human rights. So can we kind of mash these two 1073 01:02:23,800 --> 01:02:26,840 ideas together and talk about the attacks on privacy and how 1074 01:02:26,840 --> 01:02:29,760 Bitcoin is really a human rights issue? 1075 01:02:29,760 --> 01:02:31,600 And I know you, this is going to be right up your alley. 1076 01:02:32,840 --> 01:02:34,160 Absolutely. Thanks for that. 1077 01:02:34,160 --> 01:02:38,640 So I just made a new talk because I'm in Anheim at the 1078 01:02:38,640 --> 01:02:41,400 moment at adopting Bitcoin Anheim. 1079 01:02:42,160 --> 01:02:45,720 Next week I'm at the Oslo Freedom Forum and then at PTC 1080 01:02:45,720 --> 01:02:51,320 Prague talking about how Bitcoin enforces human rights and also 1081 01:02:51,600 --> 01:02:54,720 doing workshops with human rights activists from all over 1082 01:02:54,720 --> 01:02:59,160 the world to show them how Bitcoin can help them to receive 1083 01:02:59,160 --> 01:03:03,640 money to fund their nonprofit organizations, to fight against 1084 01:03:03,640 --> 01:03:09,760 authoritarianism and other fight for for their rights. 1085 01:03:09,920 --> 01:03:11,600 Yeah. And to party maybe. 1086 01:03:12,480 --> 01:03:19,600 So there, there are like 30 articles in the United Nations 1087 01:03:19,760 --> 01:03:25,360 Human Rights List, and I identified that for 11 of those, 1088 01:03:25,560 --> 01:03:31,480 Bitcoin can be a tool that enforces it or supports that 1089 01:03:31,480 --> 01:03:34,200 human right. And we were just speaking about 1090 01:03:34,360 --> 01:03:38,000 the right to privacy, which is an article in the Human Rights 1091 01:03:38,280 --> 01:03:41,000 Convention list. And also there is the 1092 01:03:41,000 --> 01:03:44,240 presumption of innocence. And I want to talk about the 1093 01:03:44,240 --> 01:03:47,880 presumption of innocence as a human right and how we don't 1094 01:03:47,880 --> 01:03:50,280 have that anymore in today's world. 1095 01:03:51,160 --> 01:03:57,000 Together with that we don't have any privacy anymore because and 1096 01:03:57,000 --> 01:04:02,400 also the goal of it seems every government in the world is to 1097 01:04:02,400 --> 01:04:07,080 basically have a complete picture of all what we do. 1098 01:04:07,280 --> 01:04:13,440 Like with all the KYC regulation and the anti money laundering 1099 01:04:13,840 --> 01:04:18,320 rules and regulations. It's now the time that we as 1100 01:04:18,320 --> 01:04:22,920 people who want to use some form of money or some form of 1101 01:04:22,920 --> 01:04:28,280 financial account and even Bitcoin, we need to identify 1102 01:04:28,280 --> 01:04:33,840 ourselves upfront. So basically we're not innocent 1103 01:04:33,840 --> 01:04:39,800 anymore. We have to show that we we have 1104 01:04:39,800 --> 01:04:44,080 to give them our identity so that we can prove our innocence 1105 01:04:44,120 --> 01:04:48,000 all the time. So it's not anymore that they go 1106 01:04:48,000 --> 01:04:52,600 for criminals who might do some illegal stuff before they use 1107 01:04:52,600 --> 01:04:58,520 money or after they used it and have to prove that they made 1108 01:04:58,520 --> 01:05:02,720 something which is illegal. No, now it's us who have to 1109 01:05:02,720 --> 01:05:07,840 prove ourselves upfront. And also recently there was this 1110 01:05:09,240 --> 01:05:14,280 court case in the Netherlands last week where the software 1111 01:05:14,280 --> 01:05:20,120 developer of Tornado Cash has been convicted to more than five 1112 01:05:20,120 --> 01:05:25,360 years of imprisonment. And one of the explainers of the 1113 01:05:25,360 --> 01:05:32,600 judge why that happened was that they said that the developer 1114 01:05:32,600 --> 01:05:40,080 basically made some decisions to work on that code and in the 1115 01:05:40,080 --> 01:05:46,480 knowledge that maybe also people who are doing illegal things can 1116 01:05:46,480 --> 01:05:53,040 use or will use his software. So basically it's like a knife 1117 01:05:53,040 --> 01:05:58,160 manufacturer, for instance, is selling a knife and someone is 1118 01:05:58,160 --> 01:06:02,280 killing someone with that knife. I never heard that a knife 1119 01:06:02,280 --> 01:06:06,680 manufacturer or a gun manufacturer was imprisoned for 1120 01:06:06,680 --> 01:06:09,800 because they also know that someone can kill someone with 1121 01:06:09,840 --> 01:06:10,440 it. Yeah. 1122 01:06:10,920 --> 01:06:16,720 So this is very, very varying to me, as I said before, because it 1123 01:06:16,720 --> 01:06:23,080 also takes the freedom of speech from us, which then takes 1124 01:06:23,080 --> 01:06:27,560 freedom of association. Because if I can't express my, 1125 01:06:29,080 --> 01:06:33,440 my will or my opinions through money, because if I donate to a 1126 01:06:33,440 --> 01:06:39,560 'cause I express my opinion. And if I can't express my 1127 01:06:39,560 --> 01:06:44,640 opinion with money, I can also not associate and get together 1128 01:06:44,640 --> 01:06:50,080 with others to demonstrate or protest against untrust, 1129 01:06:50,200 --> 01:06:54,120 something that's untrust or against police brutality. 1130 01:06:54,120 --> 01:06:58,680 Like it happened in Nigeria where Bitcoin was then really 1131 01:06:58,680 --> 01:07:02,600 used like with PTC pay server, the feminist Coalition was able 1132 01:07:02,600 --> 01:07:07,760 to receive donations from abroad again to support the protests 1133 01:07:07,760 --> 01:07:12,040 against police brutality. After that, the fact that the 1134 01:07:12,480 --> 01:07:16,680 when they first started to using the banking system, the central 1135 01:07:16,680 --> 01:07:20,040 bank immediately shut their banking account. 1136 01:07:20,440 --> 01:07:24,560 So they remembered there's something like Bitcoin and set 1137 01:07:24,560 --> 01:07:29,600 up their own PTC pay server. So Bitcoin enforces a lot of 1138 01:07:29,600 --> 01:07:33,040 human rights also, like freedom of movement. 1139 01:07:33,040 --> 01:07:38,000 Yeah, that's also you said Bitcoin is superior to real 1140 01:07:38,000 --> 01:07:41,840 estate. I agree for me, because with 1141 01:07:41,840 --> 01:07:44,560 Bitcoin, I'm very mobile. You can take your Bitcoin 1142 01:07:44,600 --> 01:07:48,600 anywhere and you only need to remember 12 words if, if it's 1143 01:07:49,280 --> 01:07:54,240 hard on hard and you need to move fast because maybe there's 1144 01:07:54,280 --> 01:07:57,440 a war or some sort of catastrophe in your country and, 1145 01:07:57,560 --> 01:08:04,920 and you need to leave. So Bitcoin is really, how should 1146 01:08:04,960 --> 01:08:09,600 I say it's the backbone of of or the embodiment of human rights. 1147 01:08:10,360 --> 01:08:14,240 You can't do that with any other cryptocurrency because all those 1148 01:08:14,240 --> 01:08:18,520 other cryptocurrencies in a way centralized, they can be shut 1149 01:08:18,520 --> 01:08:23,640 down and and only Bitcoin can't be. 1150 01:08:23,680 --> 01:08:27,600 And so it's our only defense tool actually. 1151 01:08:28,040 --> 01:08:32,560 And regarding privacy, yes, we need more privacy on chain. 1152 01:08:32,800 --> 01:08:37,200 We need more possibilities to to hide our traces. 1153 01:08:37,200 --> 01:08:42,120 And this is not because we want to hide something from our 1154 01:08:43,040 --> 01:08:46,560 society and from from the government in that sense, you 1155 01:08:46,560 --> 01:08:50,439 know, I mean, I see the government and authorities in my 1156 01:08:50,439 --> 01:08:55,720 country as these are, they are here to the service of the 1157 01:08:55,720 --> 01:08:57,840 people, not the other way around. 1158 01:08:58,240 --> 01:09:01,880 And if they do a good service to my country and to my living 1159 01:09:01,880 --> 01:09:06,760 standards, then I pay taxes. I can also pay them in Bitcoin, 1160 01:09:07,720 --> 01:09:14,479 but I don't see why I need to pay a capital gains tax and a 1161 01:09:14,479 --> 01:09:18,279 tax on my income with the same currency, which you have to do 1162 01:09:18,279 --> 01:09:20,399 now in in in Austria, for instance. 1163 01:09:20,399 --> 01:09:23,600 Yeah. So, yeah, there's a lot of 1164 01:09:23,800 --> 01:09:28,319 things to be said about that. And it's right that, like you 1165 01:09:28,319 --> 01:09:35,520 Will Harare, the author, recently said that Bitcoin shows 1166 01:09:35,520 --> 01:09:38,760 basically, in my words, I would say it shows that people have 1167 01:09:38,760 --> 01:09:42,399 lost trust in their governments, which is actually true. 1168 01:09:42,880 --> 01:09:49,240 And but it gives us hope. And we don't need to trust the 1169 01:09:49,240 --> 01:09:55,040 Bitcoin system because it has its own rules and no human 1170 01:09:55,040 --> 01:09:58,680 interaction can change them to their own good. 1171 01:09:58,920 --> 01:10:01,120 And that's the great thing about Bitcoin. 1172 01:10:01,360 --> 01:10:05,320 And I think it's something that so many people still can't 1173 01:10:05,320 --> 01:10:08,680 grasp. And I know that a lot of people 1174 01:10:08,680 --> 01:10:14,200 are also very scared. So interestingly enough, if I 1175 01:10:14,200 --> 01:10:19,040 talk to people about Bitcoin in Europe, most people, the first 1176 01:10:19,040 --> 01:10:24,360 thing they say is it scares me. I I don't know how it works. 1177 01:10:24,360 --> 01:10:26,840 That's the first thing. And the next thing is what 1178 01:10:26,840 --> 01:10:34,600 happens to our to our society, to our society, society, 1179 01:10:35,040 --> 01:10:36,600 societal contract. Yeah. 1180 01:10:37,440 --> 01:10:44,760 So people are afraid of the new. They justify the system that 1181 01:10:44,760 --> 01:10:48,600 they have at the moment because actually they arrange themselves 1182 01:10:48,600 --> 01:10:53,800 with it. And so I think people who are 1183 01:10:53,800 --> 01:10:58,480 already in Bitcoin, in self custody Bitcoin are those who 1184 01:10:58,520 --> 01:11:02,480 who like Andreas Antonopoulos once said Bitcoin is park. 1185 01:11:02,480 --> 01:11:04,480 Yeah. So we are still the parks. 1186 01:11:04,480 --> 01:11:08,840 It's still very early and I hope that people more and more 1187 01:11:08,840 --> 01:11:14,840 realize that Bitcoin is for anyone and it doesn't favor the 1188 01:11:14,840 --> 01:11:17,760 crypto pros. The crypto pros are in shit 1189 01:11:17,760 --> 01:11:21,440 coins in shit queen land, and that's something different than 1190 01:11:21,440 --> 01:11:24,240 Bitcoin from my perspective. Amen to that. 1191 01:11:24,240 --> 01:11:27,320 I do want to before I pass it back up to Opti, I do want to 1192 01:11:27,320 --> 01:11:30,280 give a shout out to John. Thank you so much for the Super 1193 01:11:30,280 --> 01:11:33,760 shot the $20 Appreciate it bro. He says fix the money fix the 1194 01:11:33,760 --> 01:11:35,840 world. Thanks to all you hard working 1195 01:11:35,840 --> 01:11:38,120 folks keep up streaming and stay strong. 1196 01:11:38,120 --> 01:11:40,520 Thank you John. Appreciate John. 1197 01:11:40,520 --> 01:11:42,000 I hope I pronounced it correctly. 1198 01:11:42,520 --> 01:11:44,760 Appreciate the the the Super chat. 1199 01:11:45,080 --> 01:11:47,280 Anyways, back to you Opti. Yeah, I love it. 1200 01:11:47,280 --> 01:11:48,920 Well, Anita, couldn't agree more. 1201 01:11:48,920 --> 01:11:52,240 I I totally agree. And let's let's talk about 1202 01:11:52,240 --> 01:11:54,360 Bitcoin for fairness. I'm I'm gonna pull up the, the 1203 01:11:54,360 --> 01:11:57,200 website and I really enjoyed the stories you were telling us 1204 01:11:57,200 --> 01:11:59,240 early. So maybe for people that are 1205 01:11:59,240 --> 01:12:04,000 joining late, can you talk about the, the on ground response to 1206 01:12:04,040 --> 01:12:06,800 Bitcoin with your work at Bitcoin for fairness? 1207 01:12:11,840 --> 01:12:13,680 Did we lose her? Do we lose me? 1208 01:12:14,560 --> 01:12:20,000 No, I'm still here. It looks like Anita's frozen. 1209 01:12:20,240 --> 01:12:22,640 Yeah, it looks like we've lost Anita for a second. 1210 01:12:24,760 --> 01:12:27,080 No. All right, All right. 1211 01:12:27,080 --> 01:12:32,040 Oh, she dropped out. All right, So let's let's keep 1212 01:12:32,120 --> 01:12:35,520 let's keep talking for a second. We'll give Anita some time to 1213 01:12:35,520 --> 01:12:37,920 see if she can she can join back. 1214 01:12:38,240 --> 01:12:41,240 But it seems like we are doing this live, ladies and gentlemen, 1215 01:12:42,040 --> 01:12:44,640 anyways. Well, we got most of the culture 1216 01:12:44,640 --> 01:12:46,280 in. Yeah, we got most of the culture 1217 01:12:46,280 --> 01:12:49,200 in. I do want to give a shout out to 1218 01:12:49,200 --> 01:12:52,680 Anita for joining us. Check out her her website 1219 01:12:52,920 --> 01:12:57,880 Bitcoin for. Fairness BFF BTC org. 1220 01:12:57,960 --> 01:12:59,920 Yeah, absolutely. Go check it out. 1221 01:12:59,920 --> 01:13:01,960 I want to give a very special thanks for Anita. 1222 01:13:01,960 --> 01:13:04,200 Join us on Simply Bitcoin Live Today. 1223 01:13:04,440 --> 01:13:06,360 Dude, today's show was packed with news. 1224 01:13:06,360 --> 01:13:09,240 Oh, we got an issue back. There we go. 1225 01:13:09,320 --> 01:13:10,840 OK, we were. We were about to. 1226 01:13:10,840 --> 01:13:14,440 Sorry. Could you hear Chris? 1227 01:13:14,440 --> 01:13:17,840 Anita or am I not back? Your audio's back. 1228 01:13:18,520 --> 01:13:20,880 Your audio is back. Your audio's back. 1229 01:13:21,280 --> 01:13:22,760 OK, so. Before we go. 1230 01:13:22,760 --> 01:13:25,240 Off connection. It's all right, Beef. 1231 01:13:25,240 --> 01:13:28,240 It happened before. Before we roll this out, can you 1232 01:13:28,240 --> 01:13:31,280 talk about Bitcoin for fairness and then and then we'll wrap 1233 01:13:31,280 --> 01:13:34,640 today's show up apparently. Yeah, thank you. 1234 01:13:34,640 --> 01:13:38,200 So yeah, Bitcoin for fairness, our project at the moment is 1235 01:13:38,480 --> 01:13:44,440 correct the Orange where we have a online course program with a 1236 01:13:45,560 --> 01:13:52,400 12 months membership for new Bitcoin educators and community 1237 01:13:52,400 --> 01:13:59,360 builders in African countries. So our goal is to educate 100 1238 01:13:59,920 --> 01:14:04,760 Bitcoin educators a year so that they can share Bitcoin education 1239 01:14:04,760 --> 01:14:12,200 in their own areas, local groups and countries that we started 1240 01:14:12,200 --> 01:14:16,760 that because from my travels, I did a lot of workshops and talks 1241 01:14:16,760 --> 01:14:20,840 and it was great to be there on the ground to build trust and 1242 01:14:20,840 --> 01:14:24,840 and to talk about Bitcoin. But then, you know, people need 1243 01:14:24,840 --> 01:14:28,360 a local meet up, they need Bitcoin us there where they can 1244 01:14:28,360 --> 01:14:32,280 connect with and ask questions. And that's why we want to build 1245 01:14:32,280 --> 01:14:36,680 this Bitcoin educators and community builders and help with 1246 01:14:36,720 --> 01:14:38,240 education. Correct. 1247 01:14:38,240 --> 01:14:43,600 The orange on the other hand is also a program for everyone, 1248 01:14:43,720 --> 01:14:47,280 anyone all around the world who is new to Bitcoin. 1249 01:14:47,520 --> 01:14:51,880 It explains the how and also the why of Bitcoin. 1250 01:14:51,880 --> 01:14:54,640 Why self custody important, How does it work? 1251 01:14:54,920 --> 01:15:00,600 How do you store your C trays the best way most safely? 1252 01:15:01,280 --> 01:15:04,760 What is the lightning network, which wallets to use with wallet 1253 01:15:04,760 --> 01:15:10,480 tutorials and things like that. So it's a holistic program and 1254 01:15:11,200 --> 01:15:15,880 at the end of the year, I'm will I go back to to African 1255 01:15:15,880 --> 01:15:20,480 countries, to Zimbabwe and also I think to Kenya to the third 1256 01:15:20,480 --> 01:15:24,760 Afro Bitcoin conference, which is a great place to be because 1257 01:15:24,760 --> 01:15:27,880 African countries, especially South Africa, for instance, are 1258 01:15:28,240 --> 01:15:32,920 very innovative in Cape Town and in South Africa, you can pave 1259 01:15:32,920 --> 01:15:37,440 with lightning in over 2000 supermarket stores all over the 1260 01:15:37,440 --> 01:15:40,680 country. And that's a great thing to to 1261 01:15:40,680 --> 01:15:44,960 have. And yeah, that's that's what we 1262 01:15:44,960 --> 01:15:48,320 do basically like Bitcoin for fairness is a nonprofit 1263 01:15:48,320 --> 01:15:54,080 initiative based in Uganda. And yeah, if if you know any 1264 01:15:55,360 --> 01:15:59,200 aspiring Bitcoin educators in African countries or in the 1265 01:15:59,200 --> 01:16:03,880 global S, tell them about the scholarship opportunity for 1266 01:16:03,880 --> 01:16:06,560 Crack the orange. If you want to bring your mom or 1267 01:16:06,560 --> 01:16:10,440 your dad to Bitcoin, then you can send them to my course. 1268 01:16:11,720 --> 01:16:15,320 And yeah, that's what we do. And if you just like to support 1269 01:16:15,320 --> 01:16:18,400 the work that Bitcoin for Fairness has been doing, we now 1270 01:16:18,400 --> 01:16:21,880 have a Bitcoin for Fairness group in Zambia, for instance. 1271 01:16:22,280 --> 01:16:25,200 They are doing their own meetups. 1272 01:16:27,160 --> 01:16:30,840 We have someone in Zimbabwe mining Bitcoin with solar. 1273 01:16:31,880 --> 01:16:37,320 I connected critless with Bondo in Malawi a, a, a water power 1274 01:16:37,320 --> 01:16:40,280 station where they now mine Bitcoin and things like that. 1275 01:16:40,280 --> 01:16:46,480 So we are also doing a lot of work to connect Bitcoiners in in 1276 01:16:46,480 --> 01:16:49,600 on the continent. So if you want to support our 1277 01:16:49,600 --> 01:16:52,800 work, please do so. We don't have any sponsors or 1278 01:16:52,800 --> 01:16:55,880 something. You can support it by donating 1279 01:16:55,880 --> 01:17:01,080 Bitcoin or Lightning, and that would be great if you did that. 1280 01:17:01,520 --> 01:17:05,000 Awesome, love it Absolutely, guys, guys, check out Anita 1281 01:17:05,000 --> 01:17:07,400 Push's work. You can go follow her on Twitter 1282 01:17:07,680 --> 01:17:12,000 at Anita Push and guys go check out her initiatives, check out 1283 01:17:12,000 --> 01:17:14,960 what she's doing. Definitely doing Satoshi's worth 1284 01:17:15,360 --> 01:17:19,520 Satoshi's work and the continent of Africa really pushing, you 1285 01:17:19,520 --> 01:17:22,640 know, the the, the benefits of the benefits of Bitcoin, the, 1286 01:17:23,120 --> 01:17:26,280 the, the, the, the, the empowerment that Bitcoin can 1287 01:17:26,280 --> 01:17:29,520 give you to communities that need it the most, right. 1288 01:17:29,520 --> 01:17:34,240 So definitely support Anita, what she's doing, donate and 1289 01:17:34,240 --> 01:17:37,440 help the cause. And I also want to thank her so 1290 01:17:37,440 --> 01:17:39,080 much for coming on the show today. 1291 01:17:39,080 --> 01:17:42,440 Huge fan of her work, like I said, and guys, you know the 1292 01:17:42,440 --> 01:17:43,720 deal. If you guys enjoyed the show, 1293 01:17:43,720 --> 01:17:45,400 you know what to do smash the like button. 1294 01:17:45,400 --> 01:17:48,640 Consider subscribing if you feel like we provided you value, but 1295 01:17:48,640 --> 01:17:51,000 the number one thing you can do to help push the peaceful 1296 01:17:51,000 --> 01:17:54,080 Bitcoin revolution. Share Bitcoin content, share 1297 01:17:54,080 --> 01:17:56,200 Bitcoin. You know, share stuff like what 1298 01:17:56,200 --> 01:18:00,200 Anita is working on and that's really how we really move the 1299 01:18:00,280 --> 01:18:01,840 envelope. We went over the hearts and 1300 01:18:01,840 --> 01:18:03,840 minds of individuals all over the world. 1301 01:18:03,840 --> 01:18:06,640 Anyways, love you all and we'll see you guys tomorrow for a 1302 01:18:06,640 --> 01:18:09,000 brand new episode of Simply Bitcoin Live. 1303 01:18:11,360 --> 01:18:15,160 Episode was brought to you by bitcoinwell.com on a mission to 1304 01:18:15,160 --> 01:18:16,440 enable independence.