Yo welcome to another episode of Simply Bitcoin.
I'm coming to you live from the Dominican Republic.
Today is going to be a very special show.
We're going to cover more excuses for inflation by our
so-called betters political Elites and of course how to fix
Bitcoins mining pool centralization problem.
I'll get into more of the details of that and a little
bit. We also have more articles from
the Legacy mainstream media bashing sailor for what happened
yesterday. So we're going to cover that.
We also have BlackRock and coinbase allying a very evil
Alliance opt he's going to cover that as well.
It's going to be a very special show but first How you doing
Opti? How you doing, bro?
What's up guys? Hello world.
It's your boy Opti. I'm here with the camera.
Hopefully, it doesn't overheat on me.
We shall see what happened today, but I'm excited to be
here. Feel good this morning.
I think it's gonna be a good day Nico.
Let's just get into it. Yeah, it's going to be a good
day. Going to say hi to everybody.
We got BTC pins. Good morning, we got guy good.
Good afternoon. Directly from Brazil.
Shout out to Brazilian bitcoiners.
We got vital, we got Joseph put the Dominican flag, he knows and
we got loco. Diamond hands Bitcoin, shout out
to all you guys. Shout out to everyone listening
on Twitter spaces. Anyways Opti let's get on to the
show, brother for brought to you by not all they make some of the
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The price at the time of recording is twenty two thousand
nine hundred and forty dollars SATs.
Per dollar also known as Moscow. Time 4359 block height, 740
7950, to reachable bitcoin knows 15,000 215 percentage issued
look. It's moving up Opti ninety one
point zero one percent Blocks to the having that number can't
come any sooner. I want to continue going down,
faster, 90 2048 having estimate April 19th 2020.
For less than two years away. Total lightning network
capacity. 1341 Bitcoin capacity value at present time.
It's at 30 million dollars 30.8 to be specific hash rate, not in
the last over the last 90 days. 209 x, a hashes.
An annual mining Revenue. We're at fourteen point, three
billion dollars. You want that number to continue
growing up. Anyways, very interesting
numbers today. So today I want to cover another
excuse by the elites check this out.
This is absolutely crazy. I could not believe.
When I read this, marry Dolly, she is the San Francisco, Ed
president. Anyways, let's check out what
she had. To say during an interview with
Reuters, to quote, she says, you know, I have to say that that I
live. I don't feel the pain of
inflation anymore. I see prices rising have enough
that I can make some substitutions that I could do
things. So I'm not immune to gas, price
Rising food prices, rising. I sometimes balk at the price of
things, she said, but I don't find myself in a space where
have to make trade-offs, because I have enough and many many
Americans. Have enough.
There you go. So that's like let them eat
cake, right? The famous line, from marry
Antonette. There you have someone who not
only works for the Federal Reserve is the president of one
of the branches of the Federal Reserve.
And she's literally saying to your face.
Hey, I'm okay. And I know all of them, a lot of
other Americans. Okay.
So I guess I'm doing alright. Like, dude, the disconnect with
these people, is absolutely insane.
Like, if this is Despicable stuff, anyways, I also got a
video for you guys as well. Well, let's check it out.
It's funny comes from our friends down under Australia,
and they also are talking about the topic of inflation.
Let's check it out. Okay, let me explain.
Inflation is not a scary word right now.
It's been getting a little out of control here and around the
world, which isn't good, but in a normal World, whatever that is
inflation means we're spending more than our economy is
growing, and gross is good, but let's start with the basics.
You heard that right right inflation.
Our economy's growing. We are spending.
Yeah. When they mean, we, they really
mean the government and Central bank's, doesn't mean the people.
So, it's just crazy how indoctrinated Society has been,
has been with this. Look some inflation is good,
it's necessary and means that the economy is working,
everything's going fine, but at the end of the day, look, even
when inflation. In that two percent, you are
still your purchasing power is being stolen from on a year by
year basis. And that's just a fact and just
a friendly reminder and I tweeted this out the other day,
the sole cause of inflation. Wasn't the virus wasn't.
The supply chains, it was governments and central banks,
they made the decision to print a record amount of money and
that is what we're feeling right now.
And by the way, not only did they make that decision?
In which is hurting everybody hurting their purchasing power,
right? They have also not taken
responsibility for that decision.
They have gasless the entire way.
First, they said there is no inflation.
Then they said the inflation was by Supply chains.
They said inflation was by the virus.
They said inflation was by Putin, right?
And it took them a year to say, oh, I made a mistake.
And here's the thing, guys, this is how much they disrespect you
this, how much they don't value you, as a human being.
They're doing the exact same thing with the recession.
There is no recession. They're redefining the term of
what recession is in front of our eyes.
I'll be pulled up the receipts the other day on yesterday, on
couple days episode. And yeah, this is, this is
absolutely despicable stuff. I don't think that there is a
political solution to this. I don't think it's a matter of
voting. Someone out of office, both
political parties and look, I live in the United States.
So I And of the political system works here and in other
countries, it's the bet you it's the same right?
Whether it's the Republicans or the Democrats and power, they do
the same thing they print money, the Democrats might be for
social issues, more, you know, societal stuff.
And then the Republicans are, you know, for war and spending
and you know, making the military bigger and all that
stuff. But at the end of the day, who
loses you do? Think about it this way.
Not only do you get tax for your income, not only do you get
taxed for your Property, not only do get tax for your
purchases. Now you're playing the hidden
tax of inflation as well. I didn't sign up for that.
Did you now with Bitcoin, you have a opportunity to opt out of
that? Political money garbage, put
yourself, put your worth your energy, your time into something
that can't be debased. Can't be confiscated easily.
You become fully financially Sovereign and the psychological
effects of that is something that people don't.
Talk a lot about in the Bitcoin Community.
All of a sudden you have hope for a better future if you
don't. You just saw that video.
You just saw what the FED with with the head of the San
Francisco branch of the FED said, I'm okay.
I know other people are okay like this is just absolutely
despicable but I can't blame these people.
At the end of the day, the Fiat system is architected in a
manner that there are a few win and a whole lot of people lose.
And Bitcoin the incentives aligned with everybody.
That is the beauty of Bitcoin. So yeah.
Join the peaceful Revolution opt-out say enough is enough and
yeah, take your wealth, your time, your work out of that,
that parasitic system because that's really what it is.
Anyways, Opti. What are your thoughts?
Well, first off of this is just absolutely insane propaganda,
like the FED President telling us.
He doesn't fit our, she doesn't feel inflation, like It's
insane. I the average person out there,
can see the inflation for themselves, they realize they
can't buy what they used to buy. Everything is getting more
expensive. I mean, Nika, you and I were
just talking about housing prices and how they gone up a
T20, what 90 100 percent since they printed money, like, this
is absolutely insane. The elites are completely out of
touch with reality and they are just going to continue to try to
spin this in a in any PR way. They can so that they The
normies so that you the plebs out there.
Just get wrecked and eat this Hook Line & Sinker.
As we've been saying, guys, it's obviously very obvious.
That inflation is bad. Inflation is the hidden,
taxation. It steals from you very slowly
and as we've been saying for a while, the disinformation war
continues, this is just standard information Warfare.
They are going to try to push this message so that you get
Hoodwink guys and Nico. I really love that you brought
up the me. That we like to push a lot is
Bitcoins, then I think that this is this, we need to all talk
about this more. That Bitcoin does something to
your psychology that you just, you're more optimistic, your
more, you're more hopeful for the future and imagine not
having Bitcoin right now. I, I literally can't imagine it
because it seems like a totally different reality because I am
very hopeful. I am Optimus field for a reason.
I think that we are gonna make this if you understand what
we're doing here and understand Bitcoin up, first principles, 21
million, hard cap, censorship resistant, money after you
money, you can't touch my money. You can't steal from me, slowly.
This is the way, guys. This is why we do this.
This is why we show up every single day to spread the sound
money gospel. You muted.
Sound money, gospel. Amen to that.
Alright guys, let's move on. Let's move on to the meat of
today's episode. Let's check out.
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Alright, so today guys, we're going Talk about stratum V2,
shot him, V2 promises to further decentralised Bitcoin and
surprisingly this articles from Forbes does a really good job at
at summarizing it and we got some other articles to you know
further paint the picture. So let's check it out says
stratum V2 promises to further decentralised Bitcoin.
It goes on to say the centralization has many
different categories from technical to culture.
And different stakeholders from the developers of the Bitcoin
core team to the exchanges, the power Fiat on and off ramps.
Yet one area where there is a lot of focus are the miners that
secure the Bitcoin Network and it's proof of work chain.
Stratum V2 is an upgrade to the Bitcoin mining stock that aims
to help miners as, as small as hobbyist.
With a few bits of Asic. Mining equipment to have a more
flexible and censorship resistant route, to
communicating with mining pools for mining, pool concentration,
in China to how Miners can choose different mining pools.
The amount of decentralization present in miners is an
important consideration for the security of Bitcoin.
After all if minor to aggregate together.
In terms of mining pools, Embrace new policies such as
censoring certain blocks, the promise of having a trusses
censorship resistance technology solution, would give way to a
new regime before the fact of centralized mining pool leaders
who might be forced one way or another, whether they through
personal incentives. Agreed.
Or through pushes for country-by-country regulations
to make decisions that benefit them rather than the network in
aggregate. So what do Bitcoin miners do?
Right, you pull together. Your hashing power to have a
more stable reward. That's what that's what Bitcoin
miners want to do. That doesn't represent that that
mining pool owns. All of that hash rate.
It's just a concentrate concentration of Bitcoin mining
power in order to The reward more consistent, right?
And you want consistency because you are paying money to power
those Miners and those miners can be very expensive, right?
So that's why people use my, that's why people use mining
pools. Now, here's the problem, right?
Is that we will bitcoiners want with Bitcoin is doing is
separating money from State. And eventually the state is
going to want to try to co-op the Bitcoin Network to make it
an extension of the system we have today.
You already see that you've already saw that happening,
right? You see that with the articles
by Elizabeth Warren in the Wall Street, in the New York Times,
right? Does hey you know Bitcoin is
going to be used to circumvent Russian sanctions, right?
So again is when we covered this about a week ago an episode Us
sanctions is US sanctions policy and again this is just a thought
experiment. I'm not saying break any laws,
right? Color within the lines but it's
like our us saying is u.s. is current u.s. sanctioning policy.
Compatible with something like Bitcoin, that's an open network,
right? I don't know, but it's
definitely a good question. Now, let me pull up some
examples of already mining. Some mining pools.
Trying to censor. Right, let's check this out.
This is Marathon miners the famous Mara pool, right?
Marathon miners. Have started censoring Bitcoin
transactions. Here's what that means and Mara
Mara Marathon. Digital Holdings is public
company and guess who they were blocking the transactions for
the US Department of Treasury. Specially designated Nationals
and blocked persons list, and it was called ofac compliance
blocks, but it wasn't only Marathon, right?
It was also the block Seer mining pool will only process
specific transactions. You saw the same Singing, we are
actually very upset when this happened when the developers
from Wasabi decided that their coins joined protocol.
Was going to scan certain transactions and not allow
certain UT EXO's into the coin joint.
And what, all what, what is all this?
This is a slow Creep by nation states, trying to co-opt bitcoin
into the existing Network, the existing network of exclusion.
Right? The reason that Bitcoin is so
inclusion. Very right is because all the
red tape is removed, right? So, if I'm in Africa, and I have
no ability to open a bank account, all of a sudden, now I
can download a Bitcoin wallet takes literally 20 seconds.
And now I'm connected with a Global Financial system, right?
Which is Bitcoin, right? Look the example with El
Salvador, right? It literally took El Salvador,
two months for there to be more Bitcoin wallets than Legacy
Bank. That's right.
And that's because not everybody has an ID, not everybody has all
the paperwork to open the head. The heavily intensive kyc bank
account, right? Or is the Bitcoin, you literally
just need to download an app on your phone, right?
So moving on what it, what are we to do with these mining
pools? Because at the end of the day,
look kid, they fully stop this. No in my opinion they can't
because what you're going to start to see some judicial
Arbitrage or perhaps, you know. No, American mining pools aren't
going to accept, you know, transactions from, you know,
known Russians are known Iranians, but what you're all
we're going to see is then an Iranian mining pool, accepting
those transactions. As soon as those transactions
get added to the blockchain, there's nothing you could do
about their there. So the worst that they can
really do is slow down transactions.
But now that we have a very large majority of the Bitcoin,
hash rate located in the United States that starts to Worrying
because you're definitely going to see more pressure by the US
bureaucracy to start to censor more specifically if we are
right about Bitcoin and it does become the world Reserve
currency, it's inevitable that they're going to ask that.
So what are we to do about it? Well check out stratum stratum
be to stratum video allows individual mirrors with in a
mining pool to choose their own blocks to mind, rather than
having to mind the one, a pool proposes for them while still
Benefiting from a more stable aggregation of mining rewards so
they can defray volatility and set of the current Paradigm of
the pool, offering a incomplete block template that an
individual minor has to accept. Now, minors can optionally,
choose the blocks, they want to mine and send it back to the
pool stratum. V2.
Also provides a bunch of different technical upgrades
from switching to Json for communication to Binary to
making communication more seamless to reducing redundant
Communications between pools. Dividual minors to cryptographic
authentication, that allows you to prevent man-in-the-middle
attacks. Such as your is be stealing your
hash power which that would suck.
So why don't want to cover this Terry looks like there's an
update Foundry, digital donates one Bitcoin to develop working
on Bitcoin mining pools Foundry digital is an Institutional
service provider for Bitcoin miner and has donated one
Bitcoin to hiss developer in the Bitcoin ecosystem.
By the name of for ss0 was Working on stratum V2.
According to a press release. Stratum V2 is an open source
Communications. Protocol that allows minors
their proxies and Mining pools to better communicate with one
another enabling larger contributions Global hash rate
of the Bitcoin Network stratum. I read you guys that part the
last part is a quote that I thought is interesting.
The Bitcoin mining industry has evolved rapidly in the last past
two years while the underlying protocol that coordinates the
minor in the pool has stayed stagnant said, Jay bit better.
Picked VP of research at Foundry for review.
Stratum be to as a major Improvement of the current
stratum protocol and is aligned our mission of empowering to
centralized infrastructure. So yeah, I'm very bullish on
this project. I hope it continues and I'm very
glad that there is funding by the community to continue it.
I think that it's essential that more and more descent.
More decentralization is always a good thing, right?
And how it's currently structured, right?
It's the mining pool. That gets to decide what block,
if they find the block gets included into the blockchain and
that is a point of weakness, right?
Because they there could be political pressure.
There could be countless things. That that blocks that that that
mining pools, like, listen, I don't want to include certain
people that the u.s. government Blacklist because I do business
in the US. But if you take away the mining
pools ability, Get to decide what block they are.
Included in what block are not included then, at least, you
know, it's the, the example that I'm going to get, it's that that
letter, that that Canadian company sent the Canadian
government says, hey, I don't have access to that stuff even
if you wanted me to give it to you, right?
So at least there's, you know, deniability there where how it's
currently set up. There is no diet deniability,
because the mining pool is the one who gets to choose, which
Block is included in which block isn't included.
So I'm glad there's development with this.
I hope it keeps going. I know that there's some
problems with it as well. Hopefully we can get a more
technical person to discuss this in the coming weeks or months.
But I think this is a very promising development and I'm
very excited to see the future a stratum V2.
I think it's essential as Bitcoin continues to become more
and more popular, and because it's becoming more and more
popular, you're going to see more.
More pressure from nation states to try to remain in power and
control. Anyways, Opti, what are your
thoughts brother? Well, you know me, I'm not the
most technical Bitcoin earn or a minor but I am glad to see this
come out. I've been hearing a lot of talk
about this from a lot more technical people than me that
have higher lever concerns, that it's above my pay.
Grade is all I'll say, but I am very glad that you brought up
the marathon and the ofac because I was the first thing
that I thought when you brought up this news is like, oh, All
right, cool like now we can, you know, route around that like,
oh, he's but anyways, first off, you said something about people
in Africa and shouts out to, what's his, in vital, official
in the chat. From Rwanda, we worldwide right
now. Let's go.
But I did do a little research this morning.
I didn't do too much because I knew you cover that.
So I went on the brand website and I was, you know, very
bullish that This is going to increase the centralization and
like you covered. It's going to make it better for
minors to choose what blocks and what transactions they want in
the block. So absolutely bullish in my
opinion, increases censorship resistance and decentralization.
So let's go, I love this. I can't wait to see this get
implemented in all mining pools, because that would be absolutely
bullish. And it would make the Bitcoin
Network that much stronger and this is what we need to.
To increase the strength of the network guys.
We need to make sure that the nation states can't attack
Bitcoin even though they haven't been able to already.
So increase the strength of Bitcoin because Bitcoin is the
way and I'm happy to see this Nico.
Very happy to see this. Yeah, it's an arms race, right?
You constantly have to be ahead because they're the, you know,
the government's just and again, they're just they're not it's
not it's an evil thing. They're acting following their
own incentives. You know.
So yeah, we have to stay ahead of the curve, that's for sure.
Anyways, I want to check this out.
Check out this tweet from Corey clips and CEO of swan.
He's been absolutely murdering it on Twitter lately.
A regulatory turf war is being encouraged and funded by the big
money. Kryptos grammars like a 16z and
coinbase. They're trying to get anyone
other than the SCC to regulate them because otherwise the free
money scam machine stops. Check this out, Cory was
absolutely right. Check out the Bloomberg article
push to give derivatives regulator more sway over credit
rating. Gains steam a push in Washington
to transform the u.s. derivatives regulator into a top
crypto. Watchdog is gaining stream with
a Senate bill that would give the Commodities future trading
commission. Sweeping new powers to oversee
the asset class. The cftc, whose purview is now
mostly limited to crypto derivative.
We get the ability to police. In the largest digital assets
under the plant introduced Wednesday, by Democrat, Debbie
stabenow, and John Republican, John boozman, the legislation
backed by the to to Top members of the Senate agriculture
committee, which is weird. Why is the agricultural
Community Kang in vic? Well, now we know thanks to
Cory, it's because it looks like some of their donors, the
coinbase a 16c, perhaps might have had some pressure.
Anyways, Senators. Cory Booker and New Jersey
Democrat and John thune a South Dakota.
Republican are also original co-sponsors of the bill one in
five. This is to quote them, 15
Americans have used their traded digital assets, but these
markets lack the transparency and accountability that they
expect from our financial system, too often.
This puts Americans hard-earned money at risk stable.
Now said in a statement. That's why we were closing
rather Tori gaps, and requiring that these markets operate under
straightforward rules that protect customers and keep our
Some safe again. I don't believe when politicians
say that. I was at all.
Anyways, crypto Executives here is what Corey said.
Crypto Executives have been pressuring for the cftc to get
more power as they resist Securities and Exchange
Commission. Chair Gary genzler's assertions,
that many digital coins are securities under the sc's
purview industry, trade groups including the blockchain
association in the crypto Council for Innovation.
Put out statements in support of the Senators efforts, right?
The coinbase. Whatever member that member
guys, coinbase is currently under investigation by the SEC
because of why, because they're pushing Securities but they're
hoping that they get regulated under the cftc.
So that half a business model literally doesn't go away
overnight because coinbase May bet to sell shit coins, some of
which are definitely Securities I make the argument.
That all of them are securities. Anyways, the new proposal would
give the derivatives regulation Direct oversight of tokens that
qualify as digital Commodities, which occurred to, a summary of
the plan include here. It is guys Bitcoin.
And ether, the two largest digital assets.
We don't believe that aetherium is a security.
I mean, sorry. It is a security.
We believe that Bitcoin, you know, is treated as a commodity,
theorem definitely isn't a commodity.
If vitalik could snap his fingers and change the monetary
policy of ethereum or like Sailors said, if Tally could
snap his finger and literally Wipe Out the whole aetherium
mining history then, is it really a commodity know?
It sounds like a security to me, but apparently aetherium
definitely has enough lobbying power for for that, not to be.
So anyways, let me let me close this.
Look, I think this is just beginning, right?
But I think that there is a silver lining here.
Silver Lining is not only do you have the crypto bill being
pushed by Senator gillibrand and Senator Cynthia, lummis, you
also have bipartisan moves, you know, perhaps not working
towards something that we would like, but at least you see,
Republicans and Democrats working together and what was,
what was worrying me. The last couple of months is
that for some reason, left-wing parties all around the world
were the ones attacking Bitcoin and the excuse, they Using is
Bitcoins, energy usage. Now when I see Democrats and
Republicans working together towards passing, you know,
favorable Bitcoin and shit. Coin regulation that puts a
smile on my face because at least I know that that is
another tack. That's at least.
That's another attack. That's at least being you know
calm down a bit. Right?
I want this to be completely bipartisan because if we want to
separate money from State, we need to incentivize Politicians
from both sides of the aisle, not only to like Bitcoin, but to
hold Bitcoins well because then they it's just following their
own incentives. They're not going to regulate
something that's going to hurt them financially.
So this is a really good pattern.
This puts a giant smile on my face because I was seeing a
troubling pattern and that pattern was goddamn.
Dude, this is becoming a partisan thing and that's the
last thing that I want to happen.
At the end of the day, Bitcoin is Is for everybody, Bitcoin
helps the right-wing ideology of sovereignty Liberty and Bitcoin
helps the left-wing ideology of helping the underprivileged,
helping the unbanked helping the people that got hurt the most by
the financial system. It literally helps both sides,
Bitcoin is a political and I'm glad that you're starting to see
a bipartisan effort in Congress to help it.
So at least there's a silver lining.
It fucking sucks. But again, I'm a Libertarian at
heart. I don't think that the u.s.
government which Big Winners should be cheering, the US
government to kill aetherium by claiming it.
A security that is some weak sauce.
We need to beat it in the free and open market.
That's how we win. We don't win by hoping and
loving some government regulation to stomp out our
competition. That's some crony capitalism
bullshit. So, when I see bitcoiners saying
that on, Just kind of like, dude, do you hear yourself right
now? I get that.
You don't like, etherium. I get that at the room Central
II. Get that etherium.
Centrally planned. But dude, come on, man.
We gotta beat it fair and square.
Anyways, Opti, what are your thoughts brother?
Well, the cftc can say that youth is a commodity or hope
that youth is a commodity but we all know the truth that eateth
is a scam Point Blank period. It is the biggest Affinity scam
in the space but I Agree with what you said.
Nico. You know, I'm not big on the
government, you know, they go, fuck themselves.
I'm not big on Authority. So I would much rather just see
Bitcoin win on the free market, which I believe it is doing as
we speak. So, just continue to push
Bitcoin, but I think this is a greater point that we've been
saying for a while about the reef and the eith. being
intermingled and is there some kind of pressure on the
politicians from the global cabals, The Reef members to add
Bitcoin or sorry eat as a commodity so that they can you
know slide this through under the rug and and continue to scam
in peace but as I believe it was Congressman Warren Davidson said
there's Bitcoin and their shit coin guys this is what you need
to show people that there's A fundamental difference between
Bitcoins and shit coins and this is why we do what we do and I
really love that you added Bitcoin is for everyone because
I was going to say the exact same thing as we like to say on
Twitter a lot Bitcoin is for enemies as Anika likes to say
Bitcoin is a bipartisan issue and as everyone needs to know,
Bitcoin is for everyone. Everyone needs Bitcoin right now
because the Legacy Financial system is wrecked, guys.
Bitcoin is the escape, And they know it.
So they have to muddy the waters.
Hence, why they're doing what they're doing?
It's very simple propaganda, guys.
We are propagandas and we're proud of it.
So we know their techniques as Nico, he says know, your enemy
and know how they work. This is why we do this.
Yep, this is why we cover. This is why we get our news from
the Legacy Financial media. You gotta you gotta get inside
their brains if you would beat them.
Anyways, Simona same I had a really good comment.
I said Nick. He said he or she sorry.
I don't know. Said or they.
He she or they you got to be inclusive.
Nico, you're wrong. After the bill will be passed.
Eith needs big going to have in such a bill Bitcoin will be
bands because it's proof of work and not proof of stake.
So I so yeah, I don't agree. The intentions of politicians.
They could be pulling a fast. Last one, I absolutely agree.
But remember how the u.s. is structured, right?
The individual states have a tremendous amount of sovereignty
over the federal government and specifically with the ruling
West Virginia versus the EPA, right?
The Supreme Court struck down the epa's ability to, to get
control how states are producing power and how they're not
producing power, right? So, for example, if New York
state which is what they're doing bands, Of work, California
bands proof of work because it's so called energy usage.
What you're going to see, you're going to see that opportunity
flock to more friendly Bitcoin States and seeing that in real
time with a lot of Bitcoin. Miners, going to Texas, Texas is
a big going strong. Hold it is the Bitcoin Alamo,
it's not going anywhere but when is so entrenched there, you have
a very well known very well known Bitcoin politicians are
sorry a very well-known Titian Ted Cruz that run for president.
He's literally talking about and some of his political rallies
about how awesome Bitcoin is. Right?
So yeah, I don't see Texas, going anywhere.
You also have Wyoming right? Cynthia lummis.
She's working so much on on the, the Bitcoin bill because I oming
at the end of the day, it's a very poor State.
And what they're doing is they're trying to attract
business by getting the Bitcoin Banks whether that's Catlin
Long's. A bank or cracking Bank set up
there, right? So again, if it was any other
country with a strong central government, I would say, yeah,
perhaps maybe this isn't such good news but because it's the
United States because of how the United States is structured
government wise. I'm very bullish on the future
of Bitcoin in the u.s. so, but we did.
You definitely still have to be careful and you definitely can't
put your your guard down, anyways.
Let's move on to the fail Opti. You got to enable permissions in
the settings for you to screen. Okay, sir, let me figure this
out. It's time for the daily fail
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today. Nika.
I'm having technical difficulties that won't let me
share. I guess I messed up but I can
still try to cover it. Yeah, don't worry, I'll pull it
up. I'll pull up the screen.
Pull up to that ago. Apologies guys, I again I
updated my computer, it's messing up with me but we are
going to cover the BlackRock news.
I hope Nico could pull it up for you guys.
So let me just cover these headlines.
Just follow along with me. We are on Bloomberg and we got a
headline right here and it goes. Rock teams up with coinbase and
crypto Market expansion. So, I'm gonna, I'm gonna break
down this article on that. I'm going to tell you a little
story and then we're going to get some, some bitcoiners takes
and we will discuss this. So as you can see, black rock
teams up with coinbase and crypto Market expansion, the
partnership will help clients oversee their Bitcoin exposure.
Even in the face of coinbase facing an SEC probe.
So BlackRock is partnering with coinbase to make it easier for
institutional investors. Has to manage and trade Bitcoin.
And, of course, coin basis stock exploded. 32%, since this news,
so top BlackRock clients will be able to use it to Latin
investment management system to oversee their exposure, to
bitcoin, along with other portfolio assets such as stocks
and bonds and to facilitate financing and trading on coin
basis. Exchange the focus of the
partnership with coinbase Will initially, be on bitcoin.
I guess some silver lining at least they're not going straight
into shit coronary but We'll explain why this is a fail just
follow along with me. So the move underscores how wall
Street's traditional Financial players are expanding deeper
into crypto and related Technologies.
Even after this year's meltdown in such assets.
Of course they got to mention the price but Black Rock chose
coinbase as a partner because of its scale in the market and its
role in providing trading custody Services, Prime
brokerage and Reporting capabilities.
The services will be available for clients of both companies.
Our institutional clients are increasingly interested in
gaining exposure to digital asset markets, and our focus on
how to efficiently manage the operational life cycle of these
assets, says, black rocks, Global head of strategic eco,
eco system partnership. And here's some, maybe some
bullish signal in here for you guys.
Institutional investors accounted for about
three-quarters of the three hundred and nine billion dollars
in trading volume on coinbase in the first quarter.
Remember everyone saying institutions comment?
Well, there he Guys, the coinbase partnership between
BlackRock and Aladdin is an exciting milestone.
For our firm, we are committed to pushing the industry forward
and creating new action access point.
As institutional crypto adoption continues to rapidly accelerate
says head of coinbase institutional.
So, here we go. A little bit at the end, and
this is where we'll start to go into the fails for BlackRock.
The partnership is the next step in a wider strategy to expand
its digital assets CEO, Larry Fink Said in March at the firm
was studying the growing importance of digital assets and
stable coins and how they can be used to help clients and one
last Ted bit the following month, the company joined a
group of investors in circle, internet Financial, the issuer
of USD coin, a stable coin, so apologies for not having the
links and because you could just maybe put my face on here, I
went and did a little research. We want to tell you why this is
a fail. Well, if you followed simply
Bitcoin for a while, you know. That black rock is one of the
biggest, not only, as I say, the largest asset manager in the
world, but they are very, very strong handed and pushing the
ESG narrative. And what is the ESG integration?
You already know what it is, but for those that are new to this,
it's the environmental social and government integration or as
I like to call it sustainable investing and I think here is
here's the meat of it ESG metrics.
I'd insight into these intangibles such as brand value
and reputation by measuring decisions taken by company
management, that affects operational efficiency and
future strategic directions. And I'm just going to read you a
headline from Black Rock on their new site.
Managing The Net Zero transition.
We have investing in the transition to NetZero block
rate, Block rock to establish Perpetual infrastructure
strategy, amazing. I'm Using.
And so I wanted to, you know, dive a little deeper in the
Blackhawk. Let's let's see what's going on.
And I found this article by Business Insider and it says
nine, fascinating facts to know a black about Black Rock, the
world's largest asset manager. And I'm just going to give you
the headlines of it because I want to get into the fail.
Aspect Block rock overseas 10 trillion dollars making it the
largest money manager in the world.
It runs a massive technology platform that oversees at least
twenty one point six trillion dollars in assets.
At Black Rock has hired. Many former government officials
into senior roles then we have. The firm played a significant
role in aiding the Federal Reserve in early 2020.
The Federal Reserve tap BlackRock during the last
financial crisis as well. Six think has been vocal on
matters of climate change urging other companies leaders to
consider the associated risk. And the last one, black, how
Black Rock has made? Lots of Acquisitions, think of
BlackRock as a firm that has gobbled up lots of competitors
in its path over the years. The firm has purchased Legacy
businesses and fintech startups. Looking to keep an edge as
traditional money management isn't as profitable and unique.
As it once was. Well, I really wish I had this
for Nico. Maybe I can get it to you guys
really quick in the, in the know, my camera is off to well
really wrecked. Oh my God, amazing.
All right, Nika, I think I need a new camera up in here, Jesus.
Okay. One second guys.
Here we go. Let me get this, this headline
to Nico. Maybe he can get it to you guys.
And the headline goes, this was dated October, 13 2017,
BlackRock CL Larry Fink calls Bitcoin in index of money
laundering. Well, Here we go.
Again, just the narrative switch is is amazing.
It only takes 45 years for people to come around or rather
as I like to say they got to PR spin this in one way or another.
So what do they do? They fud Bitcoin so that they
can buy their position and then once they have a position They
will announce that they are entering the space.
This is standard standard Fudd and propaganda from no corners
and shit Corners. So I put this out on Twitter,
this morning, just in coinbase partners with BlackRock to
provide institutional clients of Aladdin access to bitcoin.
And, of course, my commentary Lowell match, made in hell.
And then we got a comment here by our friend uploading logic,
and he goes government, Bitcoin capture strategy, engage agreed,
and we got another one by at bronze father and he goes,
rehypothecation is the state attack and continued I really
wish here Nico. I'm going to send you another
one because As we need to see this, we need to see this one up
on here because it is a meme. And, you know, me memes, paint a
picture. And this one's by, at Pedro and
vpg, and he goes shit, coin. Casino partnering with Fiat
platform to capture more Bitcoin.
Under management is not good news.
GTFO of the Bitcoin custodian and we have Sovereign, Bitcoin,
or kyc, exchange and investment platform.
I really hope this is up for you guys to see and one more comment
before I go into more of the bull, Lish Silver Lining
sentiment of here. We got at ghost band 7 and he
just has the Bitcoin white paper and he's underlining one very
important sentence. A purely peer-to-peer version of
electronic cash would allow online payments to be sent
directly from one party to another without going through a
financial institution, guys, this is why we do this.
But Just for some silver lining stuff because we like to put
some positive spin while I believe this is a fail coinbase
partnering with BlackRock, BlackRock is trying to, you
know, by every asset in the world.
It definitely feels like regulatory or not regulatory
capture. But, but a corporate capture
because they are big companies, they are working together and
now, they are working in lockstep to push the BlackRock
narrative, which we know to be G narrative, hence, all the shit
coins on coinbase. Anyways, here is maybe more of
an off-the-wall take but I think this is this is actually a legit
take to say what you want. You guys could rip me in the
chat, but this is by Alexander leishman.
And he goes, coinbase deserves its fair share of criticism.
But trust me, you do not want them to lose to FTX.
Coinbase has a core ethos of economic Liberty.
FTX is a pure player of the game where morals only hold you back,
be careful. What you wish for and what
couple more and we got one by Foss Craig Foss and goes people
are missing the significance of the Black Rock / coinbase
announcement in my opinion it will be said in hindsight it was
obvious completely agree and then this last one I gotta throw
in some joke. Memes in here guys.
We got mad. Oh, down he goes.
Coinbase drugging Blackrock in their clients would be the best
time line. So Mica, what are your thoughts?
Obviously, I consider this Fail. I'm we've been covering
BlackRock on here for a long time.
We know what narrative they're trying to push and for claim
base to be in the news for SEC fails and now they are in the
news for teaming up with black rock and many people's opinion,
the enemy of humanity. But hey, I am just app lab.
I am a, you know, I don't have an authority figure.
I am not a political pundit. I am just a guy.
Guy on the internet that put in the time to study Bitcoin and
starts to see things as we like to say, we are just plebs with
Bloomberg account. So, Nico Jones, what is your
view on this? Yeah, look black rock is is they
own a slice of every major corporation.
If you go to Apple, Microsoft, Facebook, Google, you'll see
that. One of the biggest shareholder
is Blackrock when you invest in an index fund, right?
You are investing in Black Rock, right?
And because of that, they own basically every single
Corporation. They have a they have a In it.
And because of that Larry Fink which is the CEO of black rocks,
gets the voting power of holding all those shares.
Therefore, he's extremely influential and Larry is a big
fan of the whole ESG movement as well.
So to see him allying with a company like coins coin based
definitely did it out of Corporation.
I mean, desperation there, their stock at Absolute hammered and
in the last couple of months. Yeah.
Don't don't and I think Alex lishman which is the CEO of
river Financial. I'm I'm sad that he doesn't know
better because I think he's wrong there.
Coinbase has always acted like it was an enemy of Bitcoin their
incentives. Don't align their incentivize
for shit coin surviving. Meaning they have to Ally with
the state in order to ensure that happens and Bitcoin
inherently is anti-state. I just don't think it's
compatible. So it's like, yeah, coinbase
definitely sell Bitcoin, but coinbase, also sells should
coins. And this really started to show.
Like, I'll give you guys. An example was when coin Center
was basically the lobbying effort for the Bitcoin and shit,
coin dustry. But then, we got absolutely
ambushed during the infrastructure Bill, the
treasury snuck in some Provisions that were inherently
anti. Do Bitcoins Bitcoins and that's
when the Bitcoin Community realized we can't have coin
Center fighting for us. It we need to have our own
lobbying efforts, right? So it's like just because
they're in the shit coin industry and the crypto industry
does not mean that it's incentives aligned with Bitcoin
right? The end of the day all shit
coins are attack on bitcoin shit coins, don't need to exist.
If Bitcoin does what it's supposed to do, does it?
Really need to be token, doesn't need to be a token but if it's
not a token then the founders can't enrich themselves, right?
So yeah, virtual reality me, had a really good point, right?
BlackRock owns microstrategy, I mean I would not be surprised,
right? They they own a basically a
steak and every major corporation staying BlackRock,
and Vanguard. So I sent you a tweet by Craig
Foss Opti. I don't know if you've read it.
It. So I'm gonna I did wanna pull it
up. Pull it up.
I'm gonna, I don't know. I'll grab it for you.
I have it right here. One second, apologies, guys.
New computer. I am trying to figure it out.
I thought I had it all worked out for you guys because here
obviously it's not putting the private chat.
You got it. Let me pull it up.
Here we go. Greg Faust says people are
missing the significance of the Black Rose Ash coinbase
announcement. It will be said in hindsight, it
was obvious. I agree.
Look at the end of the day, you know, we're taking the more
cautious pleb Bitcoin perspective, we're just like
okay, but I don't really trust those guys.
At the end of the day, they do have access to a significant
amount of the world's wealth. And if a see, if a portion of
the world's wealth has been Bitcoin.
That's bullish, but I bet you none of that wealth would be
taking of custody, so it would literally wouldn't be solving
anything. Because now it's black.
Rock, that is owning and holding a lot of the world's Bitcoin.
Definitely don't want to hear that.
Anyways, alright. Alright, let's move on to the
meme review, I'm for the daily meme review.
Brought to you by Citadel 21. It's the best.
Bitcoin cultural scene is stories articles, comments by
actual bitcoiners is artwork for volume 10th.
This is artwork for volume 11 and is the artwork for volume to
volunteer is almost sold out because there's only 1000
physical copies made per volume. Get your prints of Citadel 21
today before they run out. All right guys, this one's gonna
be a little different than usual.
This is a little longer meme than usual but I really feel
that we need to play this whole video completely and since I
don't have all my Other stuff. Maybe it all, it all out.
It'll be a wash. Okay.
So let me play this for you guys because this is absolutely
hilarious. Shout out to D Whitman BTC, I
tagged the wrong D. Whitman on today's Twitter post
but go follow at D. Whitman BTC, he's been putting
out, fire fire signal on Twitter and he got this from apparently
a shit corner. But sometimes shit Corners can
give you guys true. So check this out, dude.
Hey. Well, I gotta say I'm incredibly
excited to be part of Dow. I mean the community built his
absolute. Fuck the community.
And this, it's a great Suite. We can't, you can't play more of
it, okay. All right.
Nika Nika, censoring me guys. No, I'm playing.
I'm playing. All right.
Let me, let's see if I can get this other one, a couple of more
of these up on here. So you can see them.
We got the next one by ghosts, of Becca, she's been killing it
with the Bitcoin, Twitter gossip weekly and this one, of course,
I had to put it out, not just because we are in it, but
because we Want to give Hot or Not some support and everyone
out there. You guys should know that hot or
not is the next one on the plate to battle csw.
So, we are all hot or not and he is going to be in court in
September to fight fake Toshi. So go give him some support
because he's definitely going to need it.
He's in for a battle and man Just just stand strong, hot or
not. We know you're we know you're
strong guy. We know you're going to make it.
So let's go. Next one is by Rd B TC and it
since its inflation. Again Central bank's inflation
that Simpsons. He's kicking out.
What is it Moe? And it goes raise the interest
rate by one bip Central bank's inflation right behind them.
Of course. Okay.
Let's see what this next one is Nika.
Tell me what's up with the Because I am not looking at the
time right now, but we have one last one.
Yes, we will do one last one because I think we're getting to
the time. This is, by at shower hot oil
and we talked about the Solana fail yesterday.
So of course, I got to put a meme on here today and it's a
variation of the Drake. Meme, Drake is Solana and it
goes TPS equals transactions per second.
Nah, TPS equals theft per second.
So let's go. Okay.
All right. Guys.
Well, I apologize for my very clunky clunky meme review today,
but I have an epic epic meme score that I picked out
specifically for you guys because I do this for the
culture. So, hold on, hold on.
We got a basketball, because everything is basketball, boys
and girls. I got some flour or wheat in a
vase. Yeah, it's a good score.
Anyways, guys, let us know put your score down in the chat make
Opti and I feel very uncomfortable while we read it,
do it quickly, we got some BTC pins, you're going to play the
yellow video, right? It's Locke says Nico looks like
that lady on the European beer. I'll give them a used, golf tee.
Oh, man. All right, all right, guys, good
scores. Good scores for some awesome
memes. We are all hot a lot.
Yes. Shout-out to his, his glorious
fights against fake Toshi also known as Craig.
Right. We got btz pins.
I give those azuz hat. That's a very good score.
Love your hands brother. Love your pins.
Wear them all the time. On the show.
Oh, Loco. Very clever.
A black rock. Oh, Marius is going to because
we don't comfortable. He's going to give it a Its
core. He's going to give it one
Solana. Nft.
This is simply Bitcoin brother. You got the wrong show and
Alexander gave it an orange heart.
Anyways. Awesome scores for some awesome
memes. Guys.
Join our telegram group the link is down below.
It's absolutely free. It's a hangout in their Bunch
bitcoiners just posting memes. We could review the means that
you post on the meme score, it's gonna be awesome.
Definitely want to join. But anyways, today we have a
software release. Let's check it out.
All right, the software release is brought to you by Cipher
safe. I first safe is the best way to
store your Bitcoin seed. You don't want to store it on
paper. Paper is water own.
It's fire-prone. Its water.
Prohm definitely don't want to do it.
You want to store your seed on. Metal metal is a lot better it
lasts a lot longer and its water.
Roof dog-proof, it's fireproof store your seed on the ciphers
Cipher wheel or the cipher grid which you can get at at Cipher
safe dot IO anyways. Today guys we have a software
release. Let me check it out.
Let me pull up what we have today.
We have the Razzo Opti is sharing the screen.
I'll let Opti take it. Let's go, guys, I'm stealing me.
Good job. I'm over here.
Today's release is raspy Blitz version one point. 8.0, it adds
web UI and additional features back in apis.
Eram. Core lightning Albie.
Let's go. Home dashboard itchy, sad, seek
a bunk. Dang.
This is a, hey, you know, this is a, this is a, this is a good
release. All right, guys, I I didn't read
this Nico, put this on here. Let's go.
I'm gonna have to definitely update my r as P Blitz.
Anyways guys, go check us out. Apple Google podcast a Spotify
anchor. And, of course, we are on found
nap. So, if you are part of the value
for Value economy, stream of some sets, if you think we are
providing value to you guys and we will be back next tomorrow.
Yes, we will. We will be back tomorrow, guys.
We want to apologize for any technical difficulties opt-in
are transitioning the show to a live show.
So you're going to see all the mistakes, all the catastrophes,
We did this with the original shows.
Well, you can go back to the old videos and you'll see we had no
idea what we were doing bear with us while we transition to a
live show. So I want to give a shout out to
of our researchers. Hans he does an incredible job
hanging out in the simply Bitcoin, stripped telegram chat,
helping us with the research, to shout out to him.
And of course, Very Special. Shout out to our awesome
clothing. Sponsor represent LTD.com Opti
and I wear the merch. Single day.
He's wearing the T-shirt, trust. No one.
I'm wearing the represent camo. Hoodie.
Feel. Like I'm a militant bitcoiners.
I'm always wearing the camo stuff.
I like, I like the tip may come first comfy stuff, stylish.
He makes Bitcoin merch obviously, because that's what
opt he's wearing. He makes simply he's going to
make simply Bitcoin merch. It's awesome.
It's stylish. You definitely want to check out
represent LTD.com guys. That was our show.
Hope you enjoyed it. Like, Like I said, it's live.
So you get the authenticity, but you also get the mistakes.
We are your number one source for the peaceful Bitcoin
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One's you later, guys.