1 00:00:03,560 --> 00:00:05,920 It's. All going to zero against 2 00:00:05,920 --> 00:00:08,680 Bitcoin. It's going on forever. 3 00:00:15,960 --> 00:00:18,160 You're against Bitcoin. You're against freedom. 4 00:00:23,240 --> 00:00:24,680 Yeah. Welcome to another episode of 5 00:00:24,680 --> 00:00:27,080 Simply Bitcoin Live or number one source for the peaceful 6 00:00:27,080 --> 00:00:29,040 Bitcoin revolution. Recovering Use Culture Medic 7 00:00:29,040 --> 00:00:31,640 Warfare will be your guide through the separation of money 8 00:00:31,640 --> 00:00:33,080 in state. Ladies and gentlemen, welcome to 9 00:00:33,080 --> 00:00:36,400 the most watched Bitcoin Daily live show on YouTube. 10 00:00:36,400 --> 00:00:38,520 Rumble and X welcome to Simply Bitcoin. 11 00:00:39,280 --> 00:00:41,440 Pretty crazy we broke all time highs. 12 00:00:41,440 --> 00:00:44,400 That's right. That means it's so she, the 13 00:00:44,400 --> 00:00:48,920 Bitcoin chicken gets to cluck like he clucks for any new 14 00:00:48,920 --> 00:00:52,560 members of Simply Bitcoin. Back in the Simply Bitcoin OG 15 00:00:52,560 --> 00:00:56,160 days, in the, you know, in the the last bull market where 16 00:00:56,160 --> 00:00:59,080 simply Bitcoin was born, we would have this rubber chicken 17 00:00:59,080 --> 00:01:01,800 and he would cluck every time the price of Bitcoin makes all 18 00:01:01,800 --> 00:01:03,400 time highs. And that's exactly what 19 00:01:03,400 --> 00:01:04,519 happened. We're sitting pretty at 20 00:01:04,519 --> 00:01:10,760 $72,372.00. But I mean things are just 21 00:01:11,000 --> 00:01:14,720 getting started. We had this viral clip of Larry 22 00:01:14,720 --> 00:01:20,040 Fink, the man that said that Bitcoin is nothing more than, 23 00:01:20,040 --> 00:01:23,240 you know, an index of money laundering, the CEO and Chairman 24 00:01:23,240 --> 00:01:26,280 of the world's Lasset, largest asset manager. 25 00:01:26,280 --> 00:01:30,800 And of course, I'm talking about BlackRock going on CNNBC and 26 00:01:30,800 --> 00:01:33,680 talking the Bitcoin ethos. Talking, you know, the the 27 00:01:33,680 --> 00:01:35,960 benefits of Bitcoin. You would have never have 28 00:01:35,960 --> 00:01:38,480 thought of that. And all of this morning we've 29 00:01:38,480 --> 00:01:40,680 been, we've been, by the way, you guys should follow simply 30 00:01:40,680 --> 00:01:42,880 Bitcoin's Twitter account. We're posting all this breaking 31 00:01:42,880 --> 00:01:46,200 news, CNNBC, the legacy financial media. 32 00:01:46,520 --> 00:01:49,840 It's almost as if they turned into a Bitcoin channel because 33 00:01:50,000 --> 00:01:53,680 you had, you know, the current Republican nominee for 34 00:01:53,680 --> 00:01:56,240 president, Donald Trump, talking about Bitcoin. 35 00:01:56,240 --> 00:01:58,640 You had Michael Saylor talking about Bitcoin. 36 00:01:58,920 --> 00:02:01,040 You know, you had Larry Fink talking about Bitcoin earlier on 37 00:02:01,040 --> 00:02:03,520 this week. So yeah, I mean, obviously 38 00:02:03,520 --> 00:02:06,680 you're going to talk about it when this thing's sitting pretty 39 00:02:06,680 --> 00:02:11,120 at $72,372. And more importantly, Michael 40 00:02:11,120 --> 00:02:17,760 Saylor's strategy is working and it's not only the legacy, you 41 00:02:17,760 --> 00:02:20,240 know, TV media that's kind of changing tune. 42 00:02:20,480 --> 00:02:24,760 We had, I would say, a historic article coming out of the 43 00:02:24,760 --> 00:02:28,080 Financial Times, Financial Times, you know, that's that's 44 00:02:28,080 --> 00:02:32,640 legacy Fiat media basically admitting that, you know, the 45 00:02:32,640 --> 00:02:36,640 Bitcoin bulls might not necessarily be the fools in the 46 00:02:36,640 --> 00:02:38,320 room, right. So we're literally gonna read 47 00:02:38,320 --> 00:02:41,560 you that article cause in a way it's a form of vindication, 48 00:02:41,560 --> 00:02:44,360 right? Because we've been made fun of, 49 00:02:44,360 --> 00:02:47,280 we've been called psychopaths, we've been called crazy. 50 00:02:47,480 --> 00:02:51,080 You know, I'm sure not only by friends and family, but by the 51 00:02:51,080 --> 00:02:54,960 legacy establishment, right? Legacy establishment, you know, 52 00:02:55,200 --> 00:02:57,640 the the media and and the government and all these 53 00:02:57,640 --> 00:02:59,760 establishment players, they've been calling us kooks, they've 54 00:02:59,760 --> 00:03:03,120 been calling us crazy. And you know, when Bitcoin makes 55 00:03:03,120 --> 00:03:06,960 an all time high, it once again proves that this thing isn't a 56 00:03:06,960 --> 00:03:09,520 bubble, that this thing is truly going up forever. 57 00:03:09,640 --> 00:03:14,560 We're in uncharted territory. Never in Bitcoins history has 58 00:03:14,640 --> 00:03:19,120 Bitcoin made an all time high before the halving and never in 59 00:03:19,120 --> 00:03:25,640 bitcoins history did Bitcoins all time low break bitcoins 60 00:03:25,640 --> 00:03:29,840 previous all time high. So I No one knows where this is 61 00:03:29,840 --> 00:03:31,280 going. Absolutely no one. 62 00:03:31,280 --> 00:03:34,160 You're tuning into whatever content you're consuming. 63 00:03:34,400 --> 00:03:37,560 No one has no clue where this is going. 64 00:03:37,560 --> 00:03:41,600 The only thing that you guys should know and should be on the 65 00:03:41,600 --> 00:03:45,680 top of mind, right, is that Michael Saylor keeps buying 66 00:03:45,680 --> 00:03:48,480 Bitcoin. BlackRock keeps buying Bitcoin 67 00:03:48,480 --> 00:03:52,880 at a record pace and around the corner, literally next month, 68 00:03:52,880 --> 00:03:57,480 exactly like a month from now, the halving is coming and once 69 00:03:57,480 --> 00:04:00,560 again, the amount of Bitcoin being sold. 70 00:04:01,200 --> 00:04:04,720 The the the natural seller of Bitcoin on a daily basis is 71 00:04:04,720 --> 00:04:09,560 going to get cut in half from 900 Bitcoin to 450 Bitcoin, but 72 00:04:09,560 --> 00:04:12,600 the demand is going to stay exactly the same. 73 00:04:12,680 --> 00:04:15,560 What do you think is going to happen to price, right? 74 00:04:16,079 --> 00:04:18,200 So this is very, very exciting times. 75 00:04:18,200 --> 00:04:19,680 And of course we are simply Bitcoin. 76 00:04:19,680 --> 00:04:22,120 So we're going to lay out all the data for you guys and 77 00:04:22,120 --> 00:04:24,400 everything. But before we jump into the 78 00:04:24,400 --> 00:04:26,720 show, I want to bring up my legendary Co host. 79 00:04:26,840 --> 00:04:30,120 Always optimistic, I caught him on a smile to smile today. 80 00:04:30,120 --> 00:04:33,320 What shirt is that, Bro. Conservative, Progressive, 81 00:04:33,320 --> 00:04:35,480 Libertarian, Bitcoiner. I love that. 82 00:04:35,480 --> 00:04:36,920 I love that. Damn. 83 00:04:36,920 --> 00:04:41,200 Shout out to Well really, This was Russell Okong shirt. 84 00:04:41,800 --> 00:04:45,680 He made it like two years ago or something, but he his store went 85 00:04:45,680 --> 00:04:47,720 down. So then the free market did its 86 00:04:47,720 --> 00:04:51,640 thing and a few people printed it up after I put it on Twitter 87 00:04:51,640 --> 00:04:53,600 last week. And so I got this at 88 00:04:53,760 --> 00:04:56,400 orangelabel.co. Go get it for yourself guys. 89 00:04:56,400 --> 00:04:59,520 And I think this is a lit shirt. This is exactly our sentiment 90 00:04:59,520 --> 00:05:03,360 here at Simply Bitcoin. And man, what a what a crazy 91 00:05:03,360 --> 00:05:05,760 morning. First of all, my energy is a 92 00:05:05,760 --> 00:05:07,800 little low today. I guess there was like a time 93 00:05:07,800 --> 00:05:09,800 change and I lost an hour and I wasn't. 94 00:05:09,800 --> 00:05:11,920 Aware of Is that what it is? Is we lost that it? 95 00:05:12,120 --> 00:05:15,320 Is I feel like. I feel like I've not hyped. 96 00:05:15,480 --> 00:05:20,160 Bitcoin Does Bitcoin Fix This? Yeah, daylight savings times or 97 00:05:20,160 --> 00:05:24,560 time changes are a Fiat scam. I don't know why we do this, but 98 00:05:24,560 --> 00:05:27,040 yeah, I I apparently I lost an hour of sleep. 99 00:05:27,040 --> 00:05:30,240 I'm still not fully jacked up. I I drank a lot of coffee and 100 00:05:30,240 --> 00:05:33,000 everything this morning and I'm just like I was talking with the 101 00:05:33,000 --> 00:05:34,960 Twitter team right now. I'm like, man, what's going on? 102 00:05:34,960 --> 00:05:37,760 I'm feel tired today I thought it was just the Mondays, but now 103 00:05:37,760 --> 00:05:40,040 apparently we lost an hour. Anyways. 104 00:05:40,040 --> 00:05:41,800 Anyways, enough of my. Woes here. 105 00:05:41,800 --> 00:05:44,280 They're stealing our money. They're stealing our time. 106 00:05:45,560 --> 00:05:47,600 Just oh man. Yeah. 107 00:05:47,600 --> 00:05:51,960 Anyways, anyways, also you know we woke up to 72 K this morning. 108 00:05:52,040 --> 00:05:56,200 Let's go like hello, we're in price discovery mode. 109 00:05:56,200 --> 00:05:59,000 This is awesome. I got a few family texts, you 110 00:05:59,000 --> 00:06:03,040 know, everyone's excited and and and it really feels like FOMO or 111 00:06:03,040 --> 00:06:06,880 the retail FOMO hasn't even kicked in yet and like we're at 112 00:06:06,880 --> 00:06:09,320 all time highs and no one's even talking about it. 113 00:06:09,320 --> 00:06:12,600 It's like, all right man. I guess, I guess this year. 114 00:06:12,600 --> 00:06:15,640 Is going to be a crazy crazy year, you know, if we do the 115 00:06:15,640 --> 00:06:17,600 math. Also like him back might be 116 00:06:17,600 --> 00:06:19,680 right. You know, we might get 100K by 117 00:06:19,720 --> 00:06:20,400 having. Dead. 118 00:06:20,400 --> 00:06:23,200 Have you seen how hyped Vikingo is, bro? 119 00:06:23,200 --> 00:06:25,960 He's posting 3D. Like, yeah, he's like, I've 120 00:06:25,960 --> 00:06:30,360 never, he's not staying humble like AI, like I'm like dude 121 00:06:30,720 --> 00:06:33,120 every time, which is absolutely hilarious. 122 00:06:33,200 --> 00:06:34,720 Anyways. Anyways, we do have a 123 00:06:34,720 --> 00:06:36,960 recommendation from the audience, which is simply 124 00:06:36,960 --> 00:06:39,440 Bitcoin should just refuse to switch to daylight saving. 125 00:06:39,440 --> 00:06:41,560 It's funny that you say that because when I scheduled the 126 00:06:41,560 --> 00:06:47,080 show, I was like, wait, why is this thing set at like 1:15 PM? 127 00:06:47,080 --> 00:06:48,600 Like what? What's going on? 128 00:06:48,600 --> 00:06:51,880 So I think we tried to do it not on purpose. 129 00:06:51,880 --> 00:06:55,320 But anyways, I did get a GET. I did get a bit confused because 130 00:06:55,320 --> 00:06:58,800 I was like, dude, I set this at 12:15, but you know, they stole 131 00:06:58,800 --> 00:07:02,600 an hour from us the racket. Anyways, we do have a guest. 132 00:07:02,600 --> 00:07:05,800 We do have a guest, Eric. We just saw each other in 133 00:07:05,800 --> 00:07:09,360 Portugal and Maida in the flesh, in person, and I was like, dude, 134 00:07:09,360 --> 00:07:11,320 you should come on the show. He's like, bro, I'm scheduled to 135 00:07:11,360 --> 00:07:13,920 come on the show. And I was like, oh crap, this is 136 00:07:13,920 --> 00:07:15,640 going to be epic. This is going to be awesome. 137 00:07:15,640 --> 00:07:17,800 So how you doing, Eric? Welcome to Simply Bitcoin. 138 00:07:18,440 --> 00:07:20,160 Yeah, thanks for having me, guys. 139 00:07:20,160 --> 00:07:21,560 I'm fucking pumped. Dude. 140 00:07:21,560 --> 00:07:23,280 This is an honor to be on the show. 141 00:07:23,280 --> 00:07:26,480 I've been watching you guys since the beginning, yeah. 142 00:07:26,480 --> 00:07:29,720 And it's a all time highs, man. So I'm here at the farm in honor 143 00:07:29,720 --> 00:07:33,280 of the all time highs and the potential for a having on 4/20. 144 00:07:34,240 --> 00:07:35,480 So. Let's go. 145 00:07:35,920 --> 00:07:38,760 Life is memes and memes is life. Let's do this. 146 00:07:39,280 --> 00:07:43,920 By the way, if you know if YouTube, anyone that is a legal 147 00:07:43,920 --> 00:07:49,280 that is a legal farm all you know license farm, you know all 148 00:07:49,280 --> 00:07:52,000 the boxes being checked in case anyone is wondering. 149 00:07:52,880 --> 00:07:55,360 But what are we gonna talk about during the culture 'cause you 150 00:07:55,400 --> 00:07:58,960 you gave us a little bit of you know a little bit you you teased 151 00:07:58,960 --> 00:08:01,680 this a little bit in the in the before we went on air. 152 00:08:01,680 --> 00:08:04,480 So Opti, Eric, what do you guys have in mind? 153 00:08:05,120 --> 00:08:08,840 Yeah, yeah, so of course guys, our guests, I know how you guys 154 00:08:08,840 --> 00:08:11,320 love the Bitcoin origin stories. So we're gonna, we're gonna 155 00:08:11,320 --> 00:08:14,520 obviously touch on Bitcoin origin stories and Eric's been 156 00:08:14,520 --> 00:08:18,600 posting some great clips on on Twitter, so we're gonna talk 157 00:08:18,600 --> 00:08:21,760 about Bitcoin, you know, enabling the deflationary world. 158 00:08:21,920 --> 00:08:26,200 He also kind of hit us on regulations and whether and why 159 00:08:26,200 --> 00:08:29,880 he's not concerned about Bitcoin regulations considering what 160 00:08:29,880 --> 00:08:32,640 industry he works at, as you can tell from the background. 161 00:08:32,640 --> 00:08:35,840 And maybe we'll jump into, UH, obviously don't trade any shit 162 00:08:35,840 --> 00:08:37,640 coins. So I think we got a good, I 163 00:08:37,640 --> 00:08:39,240 think we're gonna have a good rip today, guys. 164 00:08:39,240 --> 00:08:41,840 And man, it's Monday. Here we go. 165 00:08:42,559 --> 00:08:44,320 It's Monday. Here we go ladies and gentlemen. 166 00:08:44,320 --> 00:08:48,080 We already have 600 live viewers between YouTube and X and 167 00:08:48,080 --> 00:08:51,200 another 70 or 60 or change on rumble. 168 00:08:51,200 --> 00:08:53,560 So if you guys are enjoying the show, really helps. 169 00:08:53,560 --> 00:08:57,560 If you smash that like button takes literally a second of your 170 00:08:57,560 --> 00:08:58,320 time. Just smash. 171 00:08:58,320 --> 00:09:01,640 It really helps with the algos and comment if you guys are 172 00:09:01,640 --> 00:09:04,760 enjoying the show so far. But before we jump into the 173 00:09:04,760 --> 00:09:09,560 show, I do want to give a very, very special shout out to our 174 00:09:09,560 --> 00:09:12,920 flagship sponsor. And of course I'm talking about 175 00:09:12,920 --> 00:09:16,960 the best place to build your automatic self custody Bitcoin 176 00:09:16,960 --> 00:09:19,360 stack. And of course I'm talking about 177 00:09:19,560 --> 00:09:22,080 Bitcoin. Well, they are a publicly traded 178 00:09:22,080 --> 00:09:26,200 company in Canada. They just recently expanded to 179 00:09:26,200 --> 00:09:28,880 all the US states. And what's really, really 180 00:09:28,880 --> 00:09:33,720 interesting about Bitcoin well is that you can't buy Bitcoin on 181 00:09:33,720 --> 00:09:36,080 Bitcoin. Well, unless you're gonna take 182 00:09:36,080 --> 00:09:39,680 self custody. So it is self custody by 183 00:09:39,800 --> 00:09:44,040 default, and their mission is to enable independence. 184 00:09:44,080 --> 00:09:46,560 So help us make custody by default. 185 00:09:46,560 --> 00:09:50,680 Self custody is the revolution the standard in the US only 186 00:09:50,680 --> 00:09:53,960 brought to you by Bitcoin. Well, and by the way, currently 187 00:09:54,200 --> 00:09:57,120 there's a Bitcoin jackpot contest. 188 00:09:57,480 --> 00:10:02,480 The jackpot is currently 2.5 / a little bit more than 2.5 million 189 00:10:02,480 --> 00:10:05,200 sats. Each entry adds sats to the 190 00:10:05,200 --> 00:10:07,160 jackpot. If you're an existing user of 191 00:10:07,160 --> 00:10:10,120 Bitcoin, well go to the rewards section to enter the contest. 192 00:10:10,120 --> 00:10:14,360 If you're a new user, go to bitcoinwell.com/contest for more 193 00:10:14,360 --> 00:10:17,160 details. And by the way, starting this 194 00:10:17,160 --> 00:10:21,400 week we will be giving away or better said, Bitcoin well will 195 00:10:21,400 --> 00:10:25,240 be giving away 11 stamp seed per day. 196 00:10:25,240 --> 00:10:27,960 That's right. If you if you enter, you're into 197 00:10:27,960 --> 00:10:32,840 the contest right now. Go to bitcoinwell.com/contest. 198 00:10:32,960 --> 00:10:35,440 Or if you're an existing user, go to the reward section. 199 00:10:35,760 --> 00:10:39,240 You If you enter in right now, it's an opportunity to win a 200 00:10:39,360 --> 00:10:42,360 stamp seed. And we will be doing this five 201 00:10:42,360 --> 00:10:45,040 days this week. Today's the first day. 202 00:10:45,360 --> 00:10:50,000 So take action if you guys want a stamp seed to properly secure 203 00:10:50,040 --> 00:10:52,800 your generational wealth. All right, everybody, let's head 204 00:10:52,800 --> 00:10:54,040 to the numbers. No more delay. 205 00:10:54,040 --> 00:10:55,080 Let's do this. Here we go. 206 00:11:03,240 --> 00:11:11,040 The Bitcoin The Bitcoin numbers. Is your Bitcoin in cold storage 207 00:11:11,040 --> 00:11:14,000 really secure? Is your seed phrase really 208 00:11:14,000 --> 00:11:15,560 secure? Stamp seeds? 209 00:11:15,560 --> 00:11:18,280 Do it yourself. Kit has everything you need to 210 00:11:18,280 --> 00:11:22,680 hammer your seed words into commercial grade titanium plates 211 00:11:22,840 --> 00:11:24,840 instead of just writing them on paper. 212 00:11:25,120 --> 00:11:28,360 Don't store your generational wealth on paper. 213 00:11:28,720 --> 00:11:31,280 Papers prone to water damage, fire damage. 214 00:11:31,480 --> 00:11:33,680 You want to put your generational wealth on one of 215 00:11:33,680 --> 00:11:36,800 the strongest metals on planet earth, Titanium. 216 00:11:36,800 --> 00:11:40,000 Your words are actually stamped into this metal plate with this 217 00:11:40,000 --> 00:11:43,400 hammer and these letter stamps. And once your words are in, they 218 00:11:43,400 --> 00:11:46,320 aren't going anywhere. No risk of the plate breaking 219 00:11:46,320 --> 00:11:48,720 apart and pieces falling everywhere. 220 00:11:48,880 --> 00:11:52,160 Titanium stamp seeds will survive nearly triple the heat 221 00:11:52,160 --> 00:11:54,640 produced by a house fire. They're also crush proof, 222 00:11:54,640 --> 00:11:57,320 waterproof, non corrosive, and time proof. 223 00:11:57,320 --> 00:12:00,000 All things That paper is not allowing you to huddle your 224 00:12:00,000 --> 00:12:03,000 Bitcoin with Peace of Mind. For the long haul. 225 00:12:03,160 --> 00:12:07,160 Stamp your seed on stamp seed. Alright gentleman, I just said 226 00:12:07,160 --> 00:12:10,240 it right. If you guys want an opportunity 227 00:12:10,240 --> 00:12:16,960 to win a stamp seed for free, go to bitcoinwell.com/contest. 228 00:12:17,280 --> 00:12:20,200 If you guys want us properly secure your generational wealth 229 00:12:20,200 --> 00:12:23,360 and let's say you don't win that contest, you guys can get 230 00:12:23,360 --> 00:12:26,480 yourself a stamp seed storage kit right now. 231 00:12:26,480 --> 00:12:31,480 Go to stampse-ed.com. Use promo code simply to get 15% 232 00:12:31,480 --> 00:12:33,640 off. Store your generational wealth 233 00:12:33,840 --> 00:12:35,520 properly. Don't put yourself in a position 234 00:12:35,520 --> 00:12:38,520 where you have to explain to your grandchildren why you lost 235 00:12:38,520 --> 00:12:41,840 your Bitcoin anyways. At the time of recording this is 236 00:12:41,840 --> 00:12:43,600 going to feel really nice to say this. 237 00:12:43,600 --> 00:12:47,000 This is the the highest it's ever been when we've recorded a 238 00:12:47,000 --> 00:12:50,480 simply Bitcoin show. The current Bitcoin price is 239 00:12:50,680 --> 00:12:56,520 72,400 and $70.00. That feels really good. 240 00:12:56,520 --> 00:12:59,120 Okay sats per dollar want the opti. 241 00:12:59,840 --> 00:13:04,080 How many days, How many years have we been crawling in the 242 00:13:04,080 --> 00:13:08,040 bear market trenches, bro Holy. Cow man, man. 243 00:13:08,080 --> 00:13:12,840 Too long, man. Man, Okay, Woof. 244 00:13:13,160 --> 00:13:20,440 All right, Stats Per dollar 1381 Block height 834,239 blocks to 245 00:13:20,440 --> 00:13:25,240 having 5761 Having estimate April 19, 2024. 246 00:13:25,240 --> 00:13:28,160 Total lighting network capacity 4352. 247 00:13:28,160 --> 00:13:32,240 Bitcoin capacity value 315 million, U.S. dollars, Realized 248 00:13:32,240 --> 00:13:36,200 monetary inflation 1.74%. The market capitalization of 249 00:13:36,200 --> 00:13:41,440 Bitcoin 1.42 trillion and Bitcoin verse gold market cap 250 00:13:41,640 --> 00:13:47,320 10.31%. Anyways, when number go up does 251 00:13:47,320 --> 00:13:50,240 its thing. It tends to humble people, 252 00:13:50,360 --> 00:13:53,520 right? I I've seen, you know I've seen 253 00:13:53,520 --> 00:13:54,880 this tweet. It is not. 254 00:13:54,880 --> 00:13:57,000 I'm not going to take credit for it because I didn't come up with 255 00:13:57,000 --> 00:14:02,160 it, but someone said that Bitcoin functions as not an IQ 256 00:14:02,160 --> 00:14:07,800 test but as a humility test. And I think that is so on point. 257 00:14:08,160 --> 00:14:12,200 Everyone gets Bitcoin at the price they deserve. 258 00:14:12,520 --> 00:14:17,520 And if you are, you know, someone who benefits from the 259 00:14:17,520 --> 00:14:21,120 Fiat system and you don't have those same benefits in the 260 00:14:21,120 --> 00:14:24,680 Bitcoin system, you're gonna eat some, a little bit of humble 261 00:14:24,680 --> 00:14:28,120 pie, right? And that's what I gotta say 262 00:14:28,120 --> 00:14:31,400 about that. And the reason I'm bringing this 263 00:14:31,400 --> 00:14:36,240 up is because, you know, not only was Sailor detractor of 264 00:14:36,240 --> 00:14:39,240 Bitcoin, how crazy is that to say these days, Like, you know, 265 00:14:39,240 --> 00:14:42,720 the guy who like, continues to, you know, leverage his company 266 00:14:42,720 --> 00:14:45,360 in order to, you know, buy more Bitcoin, Right. 267 00:14:45,680 --> 00:14:49,040 Sailor going absolutely bananas doing whatever it takes, you 268 00:14:49,040 --> 00:14:51,720 know, to get 1% of the Bitcoin supply. 269 00:14:52,400 --> 00:14:55,240 He had a very famous tweet, which is still up, by the way. 270 00:14:55,240 --> 00:14:58,440 He did not delete it or he basically said this Bitcoin 271 00:14:58,440 --> 00:14:59,840 thing, like, I don't think it's gonna work. 272 00:14:59,840 --> 00:15:02,680 And that was back in circa 2015, right? 273 00:15:03,000 --> 00:15:06,680 Well, 2017, right. And you know, Opti and I, this 274 00:15:06,680 --> 00:15:08,640 is our era. This is, we were around this 275 00:15:08,640 --> 00:15:11,880 time. Back in the day, BlackRock CEO 276 00:15:11,880 --> 00:15:15,000 Larry Fink called Bitcoin, quote, an index of money 277 00:15:15,000 --> 00:15:18,440 laundering. Right now BlackRock and Michael 278 00:15:18,440 --> 00:15:22,240 Saylor, which is the reason that I named the video the the title 279 00:15:22,240 --> 00:15:25,480 of this video, the title of this video, Michael Saylor's Micro 280 00:15:25,480 --> 00:15:27,960 Strategy and BlackRock are neck and neck. 281 00:15:28,160 --> 00:15:32,720 In fact BlackRock was about to overtake Micro Strategy's stack 282 00:15:33,040 --> 00:15:36,280 and then over the weekend or Monday better said, Michael 283 00:15:36,280 --> 00:15:40,440 Saylor announced that you know through their through their 284 00:15:40,440 --> 00:15:43,640 mechanism, which we're gonna go into detail today, you know 285 00:15:43,640 --> 00:15:45,840 they're still able to lead the pack. 286 00:15:45,840 --> 00:15:49,200 I don't know for how long, but you know, I found that really 287 00:15:49,200 --> 00:15:52,320 interesting. Anyways, so this was again a 288 00:15:52,480 --> 00:15:55,240 historic moment, October 13th, 2017. 289 00:15:55,240 --> 00:15:58,360 BlackRock CEO Larry Fink calls Bitcoin an index of money 290 00:15:58,360 --> 00:16:00,360 laundering. So if you've been around since 291 00:16:00,360 --> 00:16:05,360 2017, if you're of that class, let let this video that I'm 292 00:16:05,360 --> 00:16:08,080 about to play be vindication to you. 293 00:16:08,120 --> 00:16:13,720 Let the price at 72,569 be a vindication to you, right. 294 00:16:13,720 --> 00:16:17,240 All the BS that you probably put up with holding Bitcoin, 295 00:16:17,240 --> 00:16:22,280 believing in Bitcoin, you know, and because again, holding 296 00:16:22,280 --> 00:16:27,880 Bitcoin on paper sounds easy, holding Bitcoin in practice is 297 00:16:27,880 --> 00:16:32,240 extremely difficult. It is, it is psychological AF 298 00:16:33,120 --> 00:16:36,240 and Bitcoin, what it takes from you is time, right? 299 00:16:36,480 --> 00:16:39,360 That's really the price that you pay is, is time, right? 300 00:16:40,360 --> 00:16:42,800 So this is your vindication. This is what this is what you've 301 00:16:42,800 --> 00:16:45,040 been waiting for. And ladies and gentlemen, I'm 302 00:16:45,040 --> 00:16:47,960 telling you right now, we are just getting started. 303 00:16:47,960 --> 00:16:49,920 The halving is around the corner, right? 304 00:16:50,160 --> 00:16:55,280 You know, the the you. Bitcoin tends to moon about 8:50 305 00:16:55,280 --> 00:16:57,320 months after the halving. I know we're in an uncharted 306 00:16:57,320 --> 00:17:01,480 territory, but boy oh boy, if it follows that pattern, things are 307 00:17:01,480 --> 00:17:04,880 going to get crazy. And I think that the reason that 308 00:17:04,880 --> 00:17:09,119 we're uncharted territory is I think Bitcoin is making up for 309 00:17:09,119 --> 00:17:12,680 lost time of the uneventful last cycle, right? 310 00:17:12,680 --> 00:17:15,720 It was just, you know, it was a giant tease to be frank. 311 00:17:16,079 --> 00:17:19,319 And I think another thing, and I think this is what makes it so 312 00:17:19,319 --> 00:17:24,000 different, and you know, we had Fred Krueger on, on Wednesdays 313 00:17:24,000 --> 00:17:25,880 on last Wednesday, simply Bitcoin IRL. 314 00:17:26,079 --> 00:17:30,120 What makes this time different are the ETFs and the amount of 315 00:17:30,120 --> 00:17:34,040 institutional interest that is just going in. 316 00:17:34,040 --> 00:17:37,840 And remember guys, unlike gold, right, which is, you know, we 317 00:17:37,840 --> 00:17:40,200 would all say, OK, gold, you know, it's very scarce. 318 00:17:40,200 --> 00:17:42,720 It's a finite resource. Etcetera, etcetera, etcetera. 319 00:17:42,880 --> 00:17:44,520 But is it though? Is it though? 320 00:17:44,760 --> 00:17:48,760 Look, if the price of Bitcoin goes up, the gold production 321 00:17:48,760 --> 00:17:52,960 goes up along with it. If the price of Bitcoin goes up, 322 00:17:53,520 --> 00:17:56,160 the Bitcoin production stays the same. 323 00:17:56,160 --> 00:17:58,880 Not only does it stay the same, it actually gets cut in half 324 00:17:59,280 --> 00:18:02,680 every four years, right? That is absolute scarcity. 325 00:18:02,760 --> 00:18:05,160 The world has never seen that before. 326 00:18:05,360 --> 00:18:07,800 And if you want to know why Bitcoin was the best performing 327 00:18:07,800 --> 00:18:11,240 asset of the last 10-15 years, that is why. 328 00:18:11,240 --> 00:18:13,760 And what you're seeing right now, this epic clash. 329 00:18:13,760 --> 00:18:16,800 The reason that Bitcoin is an all time highs before the 330 00:18:16,800 --> 00:18:22,000 halving is because Wall Street is starting to get a taste of 331 00:18:22,000 --> 00:18:24,280 this, right. And again, don't take my word 332 00:18:24,280 --> 00:18:28,200 for it, take let's hear what Larry Fink has to say and again 333 00:18:28,200 --> 00:18:30,840 I preface this with you. Don't change Bitcoin. 334 00:18:30,840 --> 00:18:34,320 Bitcoin changes you. That there's a lot of merit to 335 00:18:34,320 --> 00:18:37,480 it. There's a lot of opportunity. 336 00:18:37,480 --> 00:18:40,680 It is a great store and this where you can debate is it a 337 00:18:40,680 --> 00:18:42,480 good store? Do you know how it's made a 338 00:18:42,480 --> 00:18:44,120 bunch of computers figure out but. 339 00:18:44,120 --> 00:18:47,280 There's only but the issue is if there if people believe that it 340 00:18:47,280 --> 00:18:51,200 can be a an asset that can be cross-border. 341 00:18:51,680 --> 00:18:54,200 And let's be clear. If you're in a country where 342 00:18:54,200 --> 00:18:57,360 you're fearful of your government, and maybe this is 343 00:18:57,360 --> 00:18:59,640 one of the reasons why China has banned it. 344 00:19:00,800 --> 00:19:04,200 If you're in a government where you're If you're in a country 345 00:19:04,200 --> 00:19:07,080 where you're fearful of your future, fearful of your 346 00:19:07,680 --> 00:19:10,400 government, or you're frightened that your government is 347 00:19:10,400 --> 00:19:13,880 devaluing its currency by too much deficits. 348 00:19:14,120 --> 00:19:15,920 Like us? I'm not going to go there. 349 00:19:17,120 --> 00:19:22,440 The little elephant. You could say this is a great 350 00:19:22,680 --> 00:19:27,280 potential long term store of value and it as I said it's like 351 00:19:27,280 --> 00:19:29,800 digital gold and I and I believe. 352 00:19:29,880 --> 00:19:31,960 But you still can't buy a slice of pizza with it. 353 00:19:32,720 --> 00:19:35,960 Isn't that kind of odd that? Work, but you can't buy a price 354 00:19:35,960 --> 00:19:39,440 of pizza with Palladium or or gold. 355 00:19:39,600 --> 00:19:42,080 No, but then you can do stuff with them. 356 00:19:42,080 --> 00:19:45,000 I can get stuff. I mean, people use gold for for 357 00:19:45,000 --> 00:19:45,920 stuff, right? But. 358 00:19:46,560 --> 00:19:48,560 People you could. Buy and sell your Bitcoin. 359 00:19:48,560 --> 00:19:50,960 No different than gold. So it is very. 360 00:19:51,120 --> 00:19:53,200 But gold is put in like. Jewelry. 361 00:19:53,200 --> 00:19:55,920 Jewelry and and and you know iPhones I think there's there's 362 00:19:55,920 --> 00:19:58,680 in some electronics there's. More More silver and silver. 363 00:19:58,680 --> 00:20:01,440 But you see what I'm saying It's there are practical uses. 364 00:20:02,000 --> 00:20:03,800 Bitcoin. It's literally a Ledger. 365 00:20:04,560 --> 00:20:07,840 It is a Ledger and but it's a international Ledger. 366 00:20:08,000 --> 00:20:13,920 It's cross-border it it's it's bigger than any government. 367 00:20:13,920 --> 00:20:14,680 I see. I agree with. 368 00:20:14,760 --> 00:20:19,320 You, so I mean like you know again that that's Bitcoin's 369 00:20:19,320 --> 00:20:22,320 incentives playing out in real time, right? 370 00:20:22,320 --> 00:20:26,480 Like, if you guys noticed the tickers in the back, right, it 371 00:20:26,480 --> 00:20:30,640 had MicroStrategy stock in there and it was at $454. 372 00:20:30,840 --> 00:20:32,920 You know what MicroStrategy stock is right now? 373 00:20:32,920 --> 00:20:35,160 I think it's like a $1400, right? 374 00:20:35,360 --> 00:20:36,680 Just to kind of give you an idea. 375 00:20:38,520 --> 00:20:42,040 But again, the fact that, you know, Larry Fink is literally 376 00:20:42,040 --> 00:20:44,440 talking about, yeah, you want to get Bitcoin if you live in a 377 00:20:44,440 --> 00:20:48,880 totalitarian country, you know, this is a store of value. 378 00:20:49,160 --> 00:20:54,120 Do you think that he would be saying that just for ideological 379 00:20:54,120 --> 00:20:55,600 reasons? Do you think he'd be saying 380 00:20:55,600 --> 00:20:59,040 that, you know, just because you know it makes them happy? 381 00:20:59,040 --> 00:21:02,160 No, he's saying that because he sees an opportunity. 382 00:21:02,320 --> 00:21:06,880 But the beautiful thing about Bitcoin, unlike Fiat, is that 383 00:21:06,880 --> 00:21:09,600 Bitcoin has aligned, has an aligned incentive. 384 00:21:09,600 --> 00:21:13,480 Structured meaning everyone benefits from Bitcoin equally, 385 00:21:13,720 --> 00:21:16,240 right? Versus in the Fiat system, you 386 00:21:16,240 --> 00:21:18,840 get the You get the Contillionaire class right? 387 00:21:18,840 --> 00:21:22,200 And the Contillionaire class play by a whole different set of 388 00:21:22,200 --> 00:21:26,040 rules than everyone else, right? Here's Safidine. 389 00:21:26,040 --> 00:21:27,640 This is a great tweet. I want to end up with this 390 00:21:27,640 --> 00:21:29,240 before I pass it on to our panel. 391 00:21:29,240 --> 00:21:33,040 Opti and our guest today. But here's safe. 392 00:21:33,040 --> 00:21:36,240 And he says life is not supposed to have such easy shortcuts. 393 00:21:36,240 --> 00:21:39,640 But this only seems spectacularly easy because we've 394 00:21:39,640 --> 00:21:42,760 spent a century using money that's optimized for government 395 00:21:42,760 --> 00:21:46,600 criminals to rob you, and getting gas lit into believing 396 00:21:46,600 --> 00:21:50,000 life just has to get more expensive and saving is futile. 397 00:21:50,440 --> 00:21:53,480 You must keep working harder forever and become a part time 398 00:21:53,480 --> 00:21:56,560 hedge fund manager just to keep your keep the wealth you've 399 00:21:56,560 --> 00:22:00,200 already earned from work. If it wasn't for Fiat larcenary, 400 00:22:00,440 --> 00:22:04,240 everything would be would be always getting cheaper and 401 00:22:04,240 --> 00:22:07,280 saving would be an efficient way to provide for your future. 402 00:22:07,640 --> 00:22:10,360 It isn't that Bitcoin is too good to be true. 403 00:22:10,560 --> 00:22:13,400 It's just that it kills Fiat parasitism. 404 00:22:13,680 --> 00:22:17,400 And that is the world's biggest problem, right? 405 00:22:18,200 --> 00:22:22,400 So you could have made the argument not too long ago that 406 00:22:22,400 --> 00:22:26,080 one of those, you know, quote UN quote, biggest benefactors from 407 00:22:26,080 --> 00:22:29,680 Fiat parentism was people like Larry Fink, right. 408 00:22:29,880 --> 00:22:33,360 And you have one of the biggest Fiat contillionaires, to be 409 00:22:33,360 --> 00:22:36,640 frank, one of the people that was speaking the most at the 410 00:22:36,880 --> 00:22:40,400 Contillionaire conference or the World Economic Forum, whatever 411 00:22:40,400 --> 00:22:43,440 you want to that forum that they throw in Davos every single 412 00:22:43,440 --> 00:22:45,480 year. You know, now you have him 413 00:22:45,600 --> 00:22:50,160 absolutely talking the Bitcoin talk, talking about savings, 414 00:22:50,160 --> 00:22:53,840 talking about this being an alternative, talking this about 415 00:22:53,840 --> 00:22:58,480 protecting you from, you know, completely irresponsible 416 00:22:58,480 --> 00:23:01,840 government spending. And he, he even insinuated that 417 00:23:01,840 --> 00:23:04,040 that was the US and the host was like, no. 418 00:23:04,040 --> 00:23:06,080 And he was like, ha ha, no, I'm not talking about the US But of 419 00:23:06,080 --> 00:23:07,560 course he was talking about the US itself. 420 00:23:07,800 --> 00:23:11,680 And of course, this goes back to my original point of the tweet. 421 00:23:11,960 --> 00:23:15,480 You don't change Bitcoin. Bitcoin changes you. 422 00:23:15,800 --> 00:23:19,280 That could be Michael Saylor, that could be Larry Fink, that 423 00:23:19,280 --> 00:23:20,720 could be the president of the country. 424 00:23:20,720 --> 00:23:23,280 That could be a very wealthy oil chic. 425 00:23:23,480 --> 00:23:27,360 But eventually, everyone bows down to bitcoins, incentives. 426 00:23:27,560 --> 00:23:32,040 The only question that you have to answer is at what price? 427 00:23:32,360 --> 00:23:34,720 You know, are you gonna have to pay, right? 428 00:23:34,880 --> 00:23:38,200 Are you gonna be able to humble yourself quicker or you're going 429 00:23:38,200 --> 00:23:40,360 to have to pay a higher price later? 430 00:23:40,360 --> 00:23:43,000 That's the only question that's really on the table. 431 00:23:43,160 --> 00:23:46,960 So how long, you know, could these wealth managers and how 432 00:23:47,120 --> 00:23:50,880 how long could these public, you know, these CEOs of these public 433 00:23:50,880 --> 00:23:53,760 Fortune 500 companies, how long could they be looking at Michael 434 00:23:53,760 --> 00:23:57,760 Saylor's strategy and just be like, Nah, you know what? 435 00:23:57,760 --> 00:23:59,880 This guy's a kook. This guy's crazy. 436 00:24:00,600 --> 00:24:03,920 I mean, look, I I just got to say and I'll play you guys the 437 00:24:03,920 --> 00:24:06,000 video. During the news segment, Michael 438 00:24:06,000 --> 00:24:08,680 Saylor wore a Bitcoin logo today, all right? 439 00:24:08,760 --> 00:24:11,880 And he hasn't done that before. You know, the next step is him 440 00:24:11,880 --> 00:24:13,920 growing a beard. I guess that's just going to 441 00:24:13,920 --> 00:24:16,880 happen naturally. Anyways, I do want to get Eric's 442 00:24:16,880 --> 00:24:18,840 thoughts on this and then we move on to Opti. 443 00:24:21,080 --> 00:24:23,200 Yeah, I mean, this is a a big deal. 444 00:24:23,520 --> 00:24:25,440 I think it's just the capitulation. 445 00:24:25,440 --> 00:24:28,920 These guys are getting sucked into the vortex of incentives. 446 00:24:29,200 --> 00:24:32,600 You know, black rockets. And it's a bad reputation just 447 00:24:32,600 --> 00:24:35,200 because of the simple fact, at least in my humble opinion, 448 00:24:35,200 --> 00:24:38,400 these individuals have done everything that they can do to 449 00:24:38,400 --> 00:24:41,480 get the most. And pre Bitcoin that was to buy 450 00:24:41,480 --> 00:24:44,920 real estate, it was to leverage your size, it was to to to 451 00:24:45,040 --> 00:24:47,960 participate in that contilion air feedback loop, right. 452 00:24:48,000 --> 00:24:52,400 And so obviously the Fiat forces are unethical and they're 453 00:24:52,400 --> 00:24:55,480 bifurcating our society. But I think the thing that's so 454 00:24:55,760 --> 00:24:58,720 beautiful about Bitcoin is, is it's good for everybody. 455 00:24:58,720 --> 00:25:02,520 The incentives are with for what's best for the individual 456 00:25:02,760 --> 00:25:05,120 is now what's best for the collective as well. 457 00:25:05,440 --> 00:25:08,760 And so the path of least resistance to get the most is to 458 00:25:08,760 --> 00:25:11,440 stack SAT's. It's this invisible ethical 459 00:25:11,440 --> 00:25:14,600 monetary instrument and the fact that people want to hoard it is 460 00:25:14,600 --> 00:25:17,240 good for everybody. BlackRock was buying all these 461 00:25:17,240 --> 00:25:19,560 single family homes in America and that's contributing to 462 00:25:19,560 --> 00:25:21,920 homelessness. And so, I mean, I think it's a 463 00:25:21,920 --> 00:25:23,960 super fantastic thing. You know, there's a lot of 464 00:25:23,960 --> 00:25:26,600 people that are a bit bummed. There's a little bit of rhetoric 465 00:25:26,600 --> 00:25:29,320 and dialogue in the world around how all black rocks going to 466 00:25:29,320 --> 00:25:32,520 come in and corrupt Bitcoin. It's incorruptible. 467 00:25:32,560 --> 00:25:34,760 You know, it's like Jeff Booth and George Gammon. 468 00:25:34,760 --> 00:25:36,320 I listen to their debate the whole time. 469 00:25:36,320 --> 00:25:38,920 Jeff Booth is like, hey George, how are they going to corrupt 470 00:25:38,920 --> 00:25:40,040 it? He's like, oh, well, they're 471 00:25:40,040 --> 00:25:41,680 going to debase the currency further. 472 00:25:41,680 --> 00:25:42,840 They can. Only you can. 473 00:25:43,320 --> 00:25:46,000 You can't corrupt Bitcoin. You can only further corrupt 474 00:25:46,000 --> 00:25:48,160 yourself for a later layer on top of it. 475 00:25:48,160 --> 00:25:50,800 And so I just think it's a fantastic thing. 476 00:25:50,880 --> 00:25:53,880 BlackRock is starting to do the ethical thing and what's so 477 00:25:53,880 --> 00:25:56,520 beautiful about it is they don't have to make some enormous 478 00:25:56,520 --> 00:26:01,680 sacrifice and and like you know avoid, you know, a hard come up 479 00:26:01,680 --> 00:26:03,680 these people get the stack sats and how that's that's how 480 00:26:03,680 --> 00:26:04,840 they're going to make the most money. 481 00:26:05,120 --> 00:26:08,720 So 100% and and and and I love you hit the nail on the head, 482 00:26:08,800 --> 00:26:10,960 right. It's not that BlackRock changed. 483 00:26:11,360 --> 00:26:14,800 It's at the end that the incent, the game that they're playing 484 00:26:15,280 --> 00:26:18,360 has changed. And one game, the incentive 485 00:26:18,360 --> 00:26:22,080 structure is set up where you benefit from fucking other 486 00:26:22,080 --> 00:26:27,200 people over right versus the bit so funny versus the Bitcoin 487 00:26:27,200 --> 00:26:29,280 incentive structure, it's aligned right. 488 00:26:29,440 --> 00:26:32,800 So these miners and people that are running nodes and you know, 489 00:26:32,800 --> 00:26:36,440 even content creators, right, like yes, we love Bitcoin. 490 00:26:36,440 --> 00:26:39,640 Yes, we're mining Bitcoin. Yes, you know, we're running a a 491 00:26:39,640 --> 00:26:42,880 copy, you know, our own copy of the Bitcoin software and you 492 00:26:42,880 --> 00:26:45,560 could say oh you know, they're doing it for altruistic reasons. 493 00:26:45,560 --> 00:26:49,160 And you could say, I bet you these these effing miners are 494 00:26:49,160 --> 00:26:52,120 not mining for altruistic reasons, they're doing it out of 495 00:26:52,120 --> 00:26:54,360 the pursuit of profit. But the beautiful thing about 496 00:26:54,360 --> 00:26:58,680 Bitcoin is them by pursuing that profit, they're actually making 497 00:26:58,680 --> 00:27:02,080 the network stronger, right. And everyone benefits. 498 00:27:02,280 --> 00:27:06,000 And this is what we mean by bitcoins aligned incentive 499 00:27:06,000 --> 00:27:08,320 structure system. So it's not that Larry Fink all 500 00:27:08,320 --> 00:27:11,400 of a sudden found Jesus or found Satoshi is like, I want to be a 501 00:27:11,400 --> 00:27:15,640 good person now it's that he's just finding a system that, oh 502 00:27:15,640 --> 00:27:18,000 wow, like, yeah, we're just going to pursue this. 503 00:27:18,160 --> 00:27:21,800 But unlike the Fiat system that fucks everyone out, right, a few 504 00:27:21,800 --> 00:27:25,440 win, everyone else gets fucked over, then Bitcoin, everyone 505 00:27:25,440 --> 00:27:27,040 wins, right? So that's what you're seeing 506 00:27:27,040 --> 00:27:29,680 here. And then it all goes back down 507 00:27:29,680 --> 00:27:31,240 to that very, very simple phrase. 508 00:27:31,280 --> 00:27:34,360 You don't change Bitcoin. Bitcoin changes you. 509 00:27:34,640 --> 00:27:39,520 Opti that date, October 31st, 2017, when Larry Fink said, you 510 00:27:39,520 --> 00:27:41,720 know, Bitcoin is nothing more than the index of money 511 00:27:41,720 --> 00:27:44,200 laundering. Boy oh boy, how far have we come 512 00:27:44,200 --> 00:27:46,920 my friend? That was that was your first 513 00:27:46,920 --> 00:27:48,520 year, wasn't it? That was 20. 514 00:27:48,520 --> 00:27:52,640 Seven, literally. I think I I that predates me by 515 00:27:52,640 --> 00:27:55,120 like about a month. I I'm pretty sure I got in 516 00:27:55,200 --> 00:27:59,400 roughly a month after that clip, but it's very incredible just 517 00:27:59,400 --> 00:28:03,560 seeing how far the Bitcoin narratives have changed in what, 518 00:28:03,560 --> 00:28:06,440 7 years maybe? Yeah, about seven years. 519 00:28:06,920 --> 00:28:10,040 And it it's also incredible that you know the, I don't know who 520 00:28:10,040 --> 00:28:12,040 the Co host was or the the host there. 521 00:28:12,040 --> 00:28:15,600 But it's funny how we're still dealing with the same narrative 522 00:28:15,640 --> 00:28:18,160 flood lines that we've been dealing with forever that big 523 00:28:18,160 --> 00:28:21,600 corners have thoroughly destroyed for a long, long time. 524 00:28:21,840 --> 00:28:24,960 Anyways, on the clip actually one thing before I go to that 525 00:28:24,960 --> 00:28:29,320 Niko, you said something about huddling is hard like it's it's 526 00:28:29,320 --> 00:28:32,640 it's hard to huddle. And while I totally agree, I 527 00:28:32,640 --> 00:28:35,760 think there's like a psychological point that like 528 00:28:35,760 --> 00:28:39,320 once you understand why, and this is my PIN tweet, I've had 529 00:28:39,320 --> 00:28:42,320 this on my Twitter for a while. It's like once you know why you 530 00:28:42,320 --> 00:28:44,280 huddle, the huddling becomes easier. 531 00:28:44,280 --> 00:28:47,320 And here's some things you need to learn to understand why 532 00:28:47,320 --> 00:28:50,720 you're holding Bitcoin. But after a certain point, it 533 00:28:50,720 --> 00:28:54,160 becomes so much easier because I just save in Bitcoin, I just 534 00:28:54,160 --> 00:28:57,240 hold my Bitcoin and and someone else said in the chat of like, I 535 00:28:57,240 --> 00:28:59,280 wasn't able to save money before Bitcoin. 536 00:28:59,280 --> 00:29:02,440 And I was the same way. I could barely hold like $300.00 537 00:29:02,640 --> 00:29:04,520 without it burning a hole in my pocket. 538 00:29:04,520 --> 00:29:08,200 And after becoming a Bitcoiner and literally the me, my Bitcoin 539 00:29:08,200 --> 00:29:09,880 changes you. You don't change Bitcoin. 540 00:29:10,120 --> 00:29:13,120 I was actually able to, you know, accumulate a savings. 541 00:29:13,120 --> 00:29:16,360 And it's because Bitcoin is just the greatest savings vehicle. 542 00:29:16,680 --> 00:29:20,600 So it's pretty interesting to see Fink, and I'm going to put 543 00:29:20,600 --> 00:29:22,800 it in quotation marks, you know, become a Bitcoiner. 544 00:29:23,880 --> 00:29:25,560 I'm not sure if I'm hyped on this or just. 545 00:29:25,560 --> 00:29:28,600 Absolutely terrified about it. You know, like, it's the money. 546 00:29:28,600 --> 00:29:31,160 It's the money of enemies. I know I was just about to say 547 00:29:31,200 --> 00:29:32,360 this. I was just about to say the same 548 00:29:32,360 --> 00:29:34,160 thing. So it's like it's one of these 549 00:29:34,160 --> 00:29:37,240 things where like, look, BlackRock is the biggest asset 550 00:29:37,240 --> 00:29:39,800 manager in the world. They see the value, or at least 551 00:29:40,080 --> 00:29:45,800 they understand that publicly or politically, it's safe to 552 00:29:45,840 --> 00:29:48,200 embrace Bitcoin. And of course he's talking his 553 00:29:48,200 --> 00:29:49,720 bags. Of course, we all know that. 554 00:29:49,720 --> 00:29:52,960 But it's becoming a new paradigm, and I've been saying 555 00:29:52,960 --> 00:29:56,240 this for a while, that Bitcoin has crossed the Rubicon into 556 00:29:56,240 --> 00:29:58,920 public consciousness and now you're not going to lose your 557 00:29:58,920 --> 00:30:01,560 job for being a Bitcoin. You're not going to, especially 558 00:30:01,560 --> 00:30:04,120 as an investment manager. You're not going to lose clout 559 00:30:04,120 --> 00:30:06,520 amongst your peers if you're embracing Bitcoin. 560 00:30:06,520 --> 00:30:10,880 When the ETFs has basically had the best launch of any ETF ever, 561 00:30:11,160 --> 00:30:14,920 and now bitcoins at in price discovery mode, we're in 70 K 562 00:30:15,200 --> 00:30:17,920 This next year is going to be absolutely crazy. 563 00:30:18,240 --> 00:30:20,840 And you know where where? Someone said in the chat, which 564 00:30:20,840 --> 00:30:23,240 is funny, like ESG, Fink says. Like we're going to force 565 00:30:23,240 --> 00:30:25,200 behaviors. Bitcoin Fink is like we can't 566 00:30:25,200 --> 00:30:29,360 force behaviors like. Again, like, no better than 567 00:30:29,360 --> 00:30:32,320 they're they're like American Point. 568 00:30:33,400 --> 00:30:35,600 Yeah. And then on that point, like I 569 00:30:35,600 --> 00:30:37,840 said this last week, Nico, and you're like, no, we didn't. 570 00:30:37,840 --> 00:30:41,480 You know, we're seeing that BlackRock the pendulum, I think 571 00:30:41,520 --> 00:30:44,240 Fink and BlackRock and all the asset managers in the world, 572 00:30:44,240 --> 00:30:45,680 they're seeing the pendulum swing. 573 00:30:45,880 --> 00:30:49,240 And I saw a tweet this morning or maybe it was yesterday about 574 00:30:49,520 --> 00:30:52,720 just like how bad all Blackrock's ESG investments are 575 00:30:52,720 --> 00:30:55,960 going and how they're defunding out of those ESG investments. 576 00:30:56,120 --> 00:30:58,480 And it's very interesting now that they're just going like 577 00:30:58,800 --> 00:31:03,320 full head dive into Bitcoin, because we know Bitcoin is not 578 00:31:03,400 --> 00:31:06,480 not only the most economic investment, but it is the 579 00:31:06,520 --> 00:31:08,560 environmental investment in the world. 580 00:31:08,560 --> 00:31:11,920 Like Bitcoin mining incentivizes the use of good energy. 581 00:31:12,120 --> 00:31:15,080 And we're seeing right now that like there's been a lot of bad 582 00:31:15,080 --> 00:31:17,800 investments in quote UN quote green energy. 583 00:31:18,040 --> 00:31:20,960 And the fact that we're seeing these big asset managers, the 584 00:31:20,960 --> 00:31:24,000 biggest asset managers in the world start to embrace Bitcoin, 585 00:31:24,000 --> 00:31:27,320 that's going to not only be good for like the price but also for 586 00:31:27,320 --> 00:31:29,960 the world at large. And you know Bitcoin is the best 587 00:31:29,960 --> 00:31:32,840 store value period. Even fee gets it. 588 00:31:33,120 --> 00:31:35,040 And and one more last actually two more things. 589 00:31:35,240 --> 00:31:41,160 I love how the the the host says like oh you can't buy anything 590 00:31:41,160 --> 00:31:43,600 with Bitcoin and Fink's like yeah it's a it's a store of 591 00:31:43,600 --> 00:31:44,760 value. You can't buy anything with 592 00:31:44,760 --> 00:31:48,080 Palladium, like you can't ship gold off and go buy pizzas with 593 00:31:48,080 --> 00:31:50,680 that And yet people still think gold is money. 594 00:31:50,920 --> 00:31:55,120 And then the last thing is I just love how the the host 595 00:31:55,600 --> 00:31:58,640 commented about the the dollar losing value and he's like I'm 596 00:31:58,640 --> 00:32:00,960 not going to touch that. You know, he's like touching 597 00:32:01,120 --> 00:32:03,160 that at all. And we all know that's what he 598 00:32:03,160 --> 00:32:05,120 was talking about. Like everyone knows, what's the 599 00:32:05,120 --> 00:32:06,560 conversation happening right now? 600 00:32:06,560 --> 00:32:08,680 But man. It feels so good being right. 601 00:32:08,680 --> 00:32:10,560 It feels so good being right. It's vindication. 602 00:32:10,560 --> 00:32:13,040 I mean, and again, we're going to get to the Financial Times 603 00:32:13,040 --> 00:32:15,440 article during the news segment and literally it literally 604 00:32:15,440 --> 00:32:18,000 starts it off with like this is a vindication for the hodler. 605 00:32:18,320 --> 00:32:20,800 Anyways guys, I do want to remind you guys, right now 606 00:32:20,800 --> 00:32:24,840 bitcoinwell.com is the best place to build Bitcoin stack 607 00:32:24,920 --> 00:32:28,280 automatic self custody by default. 608 00:32:28,280 --> 00:32:30,520 Self custody is a revolution and they currently have a 609 00:32:30,520 --> 00:32:32,760 competition today. If you sign up to 610 00:32:32,760 --> 00:32:36,440 bitcoinwell.com today, you enter into the competition of the 611 00:32:36,440 --> 00:32:39,760 Bitcoin jackpot contest. You have an opportunity to win a 612 00:32:39,840 --> 00:32:42,680 stamp seed storage kit absolutely free. 613 00:32:42,800 --> 00:32:44,960 We're going to be giving them. We're going to be giving them 614 00:32:44,960 --> 00:32:49,480 away five days a week this week, Monday through Friday. 615 00:32:49,880 --> 00:32:52,600 Today's the first giveaway so sign up right now. 616 00:32:52,600 --> 00:32:57,720 bitcoinwell.com/contest to enter into the contest so you can scan 617 00:32:57,720 --> 00:32:59,840 the code on your screen. I also do want to give a shout 618 00:32:59,840 --> 00:33:03,920 out to our limited merch drop. We turn, We teamed up with a 619 00:33:03,960 --> 00:33:05,760 Bitcoin artist. We have all this different 620 00:33:05,760 --> 00:33:07,560 merch. We have T-shirts, we have hats, 621 00:33:07,560 --> 00:33:11,240 we have snapbacks, dad hats, we have ladies merch right All 622 00:33:11,240 --> 00:33:14,360 anything you want right now. You could scan the QR code or go 623 00:33:14,360 --> 00:33:18,080 to simplybitcoin.com. Really, really helps if you guys 624 00:33:18,080 --> 00:33:19,760 want to support the channel. We really we. 625 00:33:19,880 --> 00:33:21,840 I highly appreciate it. Anyways, ladies and gentlemen, 626 00:33:21,840 --> 00:33:22,960 no more delay. Let's get to the news. 627 00:33:22,960 --> 00:33:24,280 We have a lot to talk about. Let's check it out. 628 00:33:27,120 --> 00:33:31,120 The Daily News. I want to give a shout out to 629 00:33:31,120 --> 00:33:35,480 our sponsor, Foundation Devices. It's self custody done right. 630 00:33:35,480 --> 00:33:39,080 They built a premium grade hardware wallet called Passport 631 00:33:39,240 --> 00:33:42,160 right here in the US. It's fully open source and 632 00:33:42,160 --> 00:33:44,800 verifiable. It's the most intuitive Bitcoin 633 00:33:44,800 --> 00:33:48,680 wallet designed with the UX, reminiscent of a simple feature 634 00:33:48,680 --> 00:33:51,560 phone so you will know how to navigate it and use it the 635 00:33:51,560 --> 00:33:54,840 moment you pick it up. Get your Bitcoin off exchanges 636 00:33:54,840 --> 00:33:57,560 and into your into your own hands in just a few minutes. 637 00:33:57,560 --> 00:34:00,600 Experience the Peace of Mind that comes with taking ownership 638 00:34:00,640 --> 00:34:03,600 of your own keys. After a massive sell out during 639 00:34:03,600 --> 00:34:07,600 Bitcoin Miami 2023, the passport is back in stock at 640 00:34:07,600 --> 00:34:11,360 foundationdevices.com. Bitcoin only, open source. 641 00:34:11,360 --> 00:34:15,280 Verifiable completely air gap security model, gorgeous design, 642 00:34:15,280 --> 00:34:18,639 craft premium grade materials. If you're thinking about getting 643 00:34:18,639 --> 00:34:21,239 your Bitcoin off exchange changes, this is the one for 644 00:34:21,239 --> 00:34:23,320 you. Check out the passport link in 645 00:34:23,320 --> 00:34:25,239 the show notes below to learn more. 646 00:34:25,679 --> 00:34:28,440 All right ladies and gentlemen, remember to get yourself a 647 00:34:28,880 --> 00:34:34,080 hardware wallet member guys. Not your keys, not your cheese. 648 00:34:34,080 --> 00:34:38,600 You want to store your Bitcoin properly, and the best way that 649 00:34:38,600 --> 00:34:41,040 you could do that is by getting yourself a hardware wallet. 650 00:34:41,040 --> 00:34:44,080 And of course, we recommend our sponsor, Passport by Foundation 651 00:34:44,080 --> 00:34:46,480 Devices. If you use the code simply or 652 00:34:46,480 --> 00:34:50,040 simply Bitcoin, you'll get three months of AVPN for free, which 653 00:34:50,040 --> 00:34:52,360 is pretty cool anyway. So check them out today. 654 00:34:52,360 --> 00:34:54,159 You could chat, you could check the link in the video 655 00:34:54,159 --> 00:34:56,480 description or the QR code that was just put up on screen. 656 00:34:56,639 --> 00:35:00,080 Anyways, quick ETF update. I'm telling you. 657 00:35:00,120 --> 00:35:03,320 Look, you could say. You could say Rico, that's an 658 00:35:03,320 --> 00:35:06,200 effing coincidence. But I love the quote. 659 00:35:06,560 --> 00:35:08,960 I forget who it's by. There are no conspiracies, but 660 00:35:08,960 --> 00:35:11,520 there are also no coincidences. Or there's no coincidences, but 661 00:35:11,520 --> 00:35:13,760 there's also no conspiracies. I love that quote. 662 00:35:14,000 --> 00:35:15,200 I think it's very applicable here. 663 00:35:15,520 --> 00:35:17,400 OK, So what am I talking about, right? 664 00:35:17,400 --> 00:35:19,480 You know, I feel like I'm the meme of the guy, like with the 665 00:35:19,560 --> 00:35:21,920 with the with the board and the crazy eyes like putting stuff 666 00:35:21,920 --> 00:35:23,560 together. OK, So what am I talking about? 667 00:35:23,560 --> 00:35:26,400 This is what I'm talking about South over the weekend. 668 00:35:26,400 --> 00:35:31,760 What was about to happen? Was that the Black Rock ETF was 669 00:35:31,760 --> 00:35:35,360 about to overtake a Michael Saylor's micro strategy's 670 00:35:35,360 --> 00:35:39,960 Bitcoin position. Before Monday's announcement, 671 00:35:40,160 --> 00:35:45,280 Michael Saylor's position was at 195,000 Bitcoin and BlackRock 672 00:35:45,280 --> 00:35:48,280 was on track to overtake it this Monday, right? 673 00:35:48,280 --> 00:35:51,920 But what happened was Saylor made a Monday morning 674 00:35:51,920 --> 00:35:56,120 announcement and all of a sudden micro strategies in the clear by 675 00:35:56,120 --> 00:35:58,760 another 10,000 Bitcoin. You could say Nico, that's pure 676 00:35:58,760 --> 00:35:59,840 coincidence. That's just. 677 00:36:00,320 --> 00:36:02,320 I don't know, man. Look like. 678 00:36:02,880 --> 00:36:04,240 I don't know. I don't know. 679 00:36:04,240 --> 00:36:06,240 I don't. I I I would like to believe that 680 00:36:06,240 --> 00:36:08,800 Michael Saylor's like, you know what I want to stay ahead of the 681 00:36:08,800 --> 00:36:10,840 pack. I know you can make you can make 682 00:36:10,840 --> 00:36:13,400 the argument one's an asset manager, one's a publicly traded 683 00:36:13,400 --> 00:36:15,400 company and each other two totally different things. 684 00:36:15,920 --> 00:36:19,160 I would like to believe that there was some semblance of 685 00:36:19,160 --> 00:36:21,680 like, you know, I'm still the big dog here. 686 00:36:22,000 --> 00:36:25,040 But anyways, maybe I'm totally wrong, but that's. 687 00:36:25,080 --> 00:36:28,280 I would like to believe that. Anyways, so what's the big deal? 688 00:36:28,440 --> 00:36:33,560 Michael Saylor is came up with this very fascinating strategy 689 00:36:33,800 --> 00:36:38,600 where he's leveraging his company to get more Fiat in 690 00:36:38,600 --> 00:36:43,000 order to buy more Bitcoin, and the Fiat loans that he's getting 691 00:36:43,320 --> 00:36:48,760 are at ridiculous rates, right? Meaning that the bet really is, 692 00:36:48,760 --> 00:36:52,800 is Bitcoin going to outpace that interest rate? 693 00:36:53,280 --> 00:36:56,880 And the interest rates he has is so ludicrously low that it's 694 00:36:56,880 --> 00:37:01,040 like, it's so obvious, right? And then that leads me to the 695 00:37:01,040 --> 00:37:04,760 other inevitable conclusion that you get to, which is like how 696 00:37:04,760 --> 00:37:09,040 long until other companies see this And they're like, holy cow, 697 00:37:09,040 --> 00:37:12,520 I think, I think this is a viable strategy, maybe not going 698 00:37:12,520 --> 00:37:17,360 so intensely, maybe not going so aggressively, but at still at 699 00:37:17,360 --> 00:37:19,600 least having some type of exposure. 700 00:37:20,240 --> 00:37:22,520 So he goes on to say MicroStrategy has acquired an 701 00:37:22,520 --> 00:37:29,000 additional 12,000 Bitcoin for $821 million using proceeds from 702 00:37:29,000 --> 00:37:35,320 convertible notes and excess cash for $68,477 per coin. 703 00:37:36,240 --> 00:37:41,920 As of March 10th, MicroStrategy holds 205,000 Bitcoin acquired 704 00:37:41,920 --> 00:37:47,800 for 6.91 billion, an average price of 33,706 per coin. 705 00:37:48,000 --> 00:37:52,560 Now here's the thing. He's 5000 coins away from owning 706 00:37:52,560 --> 00:37:58,440 1% of every coin in existence or that that will ever exist in in 707 00:37:58,440 --> 00:38:01,080 Bitcoin, right? And what's really interesting is 708 00:38:01,080 --> 00:38:05,600 that, again, BlackRock is almost at that 1% number too. 709 00:38:05,840 --> 00:38:09,800 And Fidelity's almost at that. You know, relatively almost at 710 00:38:09,800 --> 00:38:14,120 that 1% number, right? It's a pretty interesting times, 711 00:38:14,120 --> 00:38:16,760 pretty crazy time. But I don't know about you guys. 712 00:38:16,760 --> 00:38:19,040 I ain't selling my Bitcoin to BlackRock, are you? 713 00:38:19,520 --> 00:38:23,160 Anyways, So he seems to be doing this strategy over and over 714 00:38:23,160 --> 00:38:24,880 again. We hear this announcement every 715 00:38:24,880 --> 00:38:27,240 once in a while. We reported it on it yesterday. 716 00:38:27,360 --> 00:38:30,360 Here's the Bitcoin therapist and I think he lays it out the best. 717 00:38:30,680 --> 00:38:32,640 He said. Sailor found the infinite money 718 00:38:32,640 --> 00:38:36,240 glitch, the infinite Bitcoin loop, Bitcoin MicroStrategy, 719 00:38:36,240 --> 00:38:39,920 debt, Bitcoin wash and repeat. This thing goes much higher. 720 00:38:40,040 --> 00:38:43,840 Wall Street FOMO is about to be insane, and that's absolutely 721 00:38:43,840 --> 00:38:46,400 right. He's leveraging his company. 722 00:38:47,400 --> 00:38:49,720 The company's share price goes up. 723 00:38:50,000 --> 00:38:52,160 He does it again. Rinse and repeat. 724 00:38:52,520 --> 00:38:55,080 The share price goes up, Bitcoin goes up. 725 00:38:55,200 --> 00:38:58,360 And he keeps repeating this. He literally found the infinite 726 00:38:58,360 --> 00:39:01,680 money glitch in a video game, but he found that in real life, 727 00:39:01,880 --> 00:39:05,160 all thanks to the Fiat system. This is what Sailor's doing 728 00:39:05,160 --> 00:39:07,160 right now. Holy shit, right. 729 00:39:07,200 --> 00:39:09,680 Which is fucking crazy. He's getting hundreds of 730 00:39:09,680 --> 00:39:14,000 millions of dollars out of nowhere at these crazy rates. 731 00:39:14,120 --> 00:39:17,200 The last time when we reported it to you guys last week, it was 732 00:39:17,200 --> 00:39:21,320 at .625% interest rate. That's that's free money 733 00:39:21,320 --> 00:39:24,000 essentially, right? Absolutely crazy. 734 00:39:24,160 --> 00:39:27,000 So Sailor did go on squawk Bach this morning. 735 00:39:27,000 --> 00:39:29,560 Of course, you know, like kind of I would say the the 736 00:39:29,560 --> 00:39:35,240 vindication media circuit celebrating you know, as long 737 00:39:35,240 --> 00:39:38,160 with I think Donald Trump was on this morning as well and they're 738 00:39:38,160 --> 00:39:40,840 asking him some questions. I had the whole entire video is 739 00:39:40,840 --> 00:39:44,200 about 12 minutes and 57 seconds. I don't know if we have time to 740 00:39:44,200 --> 00:39:47,440 play the entire thing, but I'll play you guys at the beginning 741 00:39:47,440 --> 00:39:49,640 because it's pretty interesting. Let's check it out. 742 00:39:50,320 --> 00:39:52,120 Welcome back to Squat Box this morning, Bitcoin Crossing the 743 00:39:52,120 --> 00:39:54,480 $70,000 mark for the first time on Friday this morning, it's now 744 00:39:54,480 --> 00:39:57,000 above $72,000. Join us right now to talk 745 00:39:57,000 --> 00:39:59,760 Bitcoin is Michael Saylor, Micro Strategy Executive Chairman and 746 00:39:59,760 --> 00:40:02,840 AK out from the company this morning revealing it just bought 747 00:40:02,920 --> 00:40:04,840 more than $800 million in Bitcoin. 748 00:40:05,200 --> 00:40:08,560 As of the end of last month, this company held about 200,000 749 00:40:08,560 --> 00:40:10,000 bitcoins. And Michael, I want to thank you 750 00:40:10,000 --> 00:40:12,480 for joining us. You have been early and 751 00:40:12,480 --> 00:40:14,720 courageous and you continue to double down. 752 00:40:16,200 --> 00:40:18,640 I want to talk about where you think Bitcoin is, but also I 753 00:40:18,640 --> 00:40:21,560 want to talk about how you think about micro strategy and your 754 00:40:21,560 --> 00:40:24,840 company as a proxy for Bitcoin. Now that ETF's are available to 755 00:40:24,840 --> 00:40:27,000 the public. Sure. 756 00:40:27,240 --> 00:40:29,040 Well, I think I'd start just with Bitcoin. 757 00:40:29,040 --> 00:40:31,680 It's Bitcoin is is certainly at least digital gold. 758 00:40:31,920 --> 00:40:33,640 It's going to eat gold. It's got all of the great 759 00:40:33,640 --> 00:40:36,360 attributes of gold, and it's got none of the defects of gold. 760 00:40:36,640 --> 00:40:39,680 If you could teleport gold from New York to Tokyo in a in a few 761 00:40:39,680 --> 00:40:43,200 minutes, people would like it. It's going to divert capital 762 00:40:43,200 --> 00:40:47,560 from risk, risk assets and risk ETFs like SPY and you can see 763 00:40:47,560 --> 00:40:50,040 that these, these ETFs are doing that. 764 00:40:50,280 --> 00:40:52,520 It's going to be incorporated into a lot of funds like the 765 00:40:52,520 --> 00:40:55,120 Black Rock Global Opportunities Fund or the Strategic Income 766 00:40:55,120 --> 00:40:57,600 Opportunities Fund. And so as it it's an asset 767 00:40:57,600 --> 00:40:59,600 class, as it goes into other funds, it's going to become 768 00:40:59,600 --> 00:41:01,680 structural. The halving is going to cut the 769 00:41:01,680 --> 00:41:04,560 organic supply of natural sellers in half around April 770 00:41:04,560 --> 00:41:06,200 20th. That means there's only about 771 00:41:06,200 --> 00:41:10,280 30, one, $32 million a day of natural sellers and the price of 772 00:41:10,280 --> 00:41:12,600 Bitcoin is going to have to adjust up in order to meet that 773 00:41:12,600 --> 00:41:14,200 investor demand. So I think that's what's going 774 00:41:14,200 --> 00:41:15,480 to happen next to the asset class. 775 00:41:15,840 --> 00:41:19,760 So absolute bold hearted going in hot. 776 00:41:20,000 --> 00:41:24,360 The guy has his his shirt unbuttoned, he is wearing 777 00:41:24,360 --> 00:41:27,120 Bitcoin merch. I think that's the first I've 778 00:41:27,120 --> 00:41:30,600 seen on Sailor that giant effing smile. 779 00:41:31,120 --> 00:41:33,520 Yeah, this is, this is what winning looks like. 780 00:41:33,520 --> 00:41:36,680 You know in in the next cycle Michael Saylor is going to have 781 00:41:36,680 --> 00:41:38,720 a lot beard. I'm telling you it's going to be 782 00:41:38,720 --> 00:41:41,640 like it's going to be long, you know, and it's just it just 783 00:41:41,640 --> 00:41:44,560 comes with, you know, holding Bitcoin and what it does to you. 784 00:41:44,560 --> 00:41:47,880 It just kind of gives you this like, I just, I don't care. 785 00:41:47,880 --> 00:41:50,240 You guys gave me so much shit for so long. 786 00:41:50,240 --> 00:41:53,360 I was right kind of, ha, ha. You know, of course, you know, 787 00:41:53,360 --> 00:41:56,080 he has to be responsible. He's the CEO and chairman of a 788 00:41:56,080 --> 00:41:58,240 public company, all that good stuff. 789 00:41:58,440 --> 00:42:01,280 But still, man, I mean, he is stepping out of his comfort 790 00:42:01,280 --> 00:42:03,080 zone. He's smiling more and he's 791 00:42:03,080 --> 00:42:06,760 wearing a Bitcoin shirt on legacy financial media, right. 792 00:42:06,920 --> 00:42:10,320 But OK, And on a more serious note, let's pay attention to a 793 00:42:10,320 --> 00:42:13,600 couple of things that he said about how BlackRock is including 794 00:42:13,600 --> 00:42:18,440 this on in other funds. That is absolutely, 100% right. 795 00:42:18,440 --> 00:42:23,520 So other than the ETFs, Bitcoin is being added to other funds. 796 00:42:23,520 --> 00:42:26,080 So other funds are getting Bitcoin exposure. 797 00:42:26,160 --> 00:42:31,280 What what happens when that Bitcoin allocation, that 1% or 798 00:42:31,280 --> 00:42:36,240 3%, whatever, starts outperforming the rest of the 799 00:42:36,240 --> 00:42:39,640 portfolio of that said fun, what happens there, right? 800 00:42:39,720 --> 00:42:43,320 And it starts to become right this, you know, this self 801 00:42:43,320 --> 00:42:47,560 fulfilling prophecy kind of feeds into each other and that's 802 00:42:47,560 --> 00:42:49,080 exactly what's happening right now. 803 00:42:49,080 --> 00:42:51,200 That's what's happening with Michael Sailor's stock. 804 00:42:51,400 --> 00:42:54,040 That's what's happening with these ETFSI think that's what's 805 00:42:54,200 --> 00:42:57,680 beginning, starting to beginning to happen with Wall Street 806 00:42:57,680 --> 00:43:00,560 getting a taste of what absolute scarcity feels like. 807 00:43:00,880 --> 00:43:04,840 And Sailor said it best. We have the having coming along, 808 00:43:04,840 --> 00:43:06,960 right? So that cell pressure gets cut 809 00:43:06,960 --> 00:43:11,120 in half, all the stars and moons and planets through all 810 00:43:11,120 --> 00:43:13,400 aligning. Right now, it's all incredibly 811 00:43:13,400 --> 00:43:15,480 obvious. Maybe we're in the euphoria 812 00:43:15,480 --> 00:43:19,080 phase, Opti, but I don't know, man, the trends are still down. 813 00:43:19,680 --> 00:43:21,960 You know, people aren't really searching this enough. 814 00:43:22,000 --> 00:43:23,640 I'm not. I'm still not getting text 815 00:43:23,640 --> 00:43:26,040 messages from people that I haven't talked to in seven 816 00:43:26,040 --> 00:43:30,000 years, so I still feel like we have a long way to go, my 817 00:43:30,000 --> 00:43:34,360 friend. Maybe I'm being, you know, way 818 00:43:34,360 --> 00:43:37,000 too optimistic, but that's currently how I'm feeling. 819 00:43:37,160 --> 00:43:39,120 Anyways, I want to get Eric Stotts and then we'll move on to 820 00:43:39,120 --> 00:43:43,160 Opti. Yeah, Giga Chad, man, He it's 821 00:43:43,160 --> 00:43:46,080 like he hacked the Matrix. He figured out how to flip the 822 00:43:46,080 --> 00:43:50,040 system on its head and benefit himself in in just such an epic 823 00:43:50,040 --> 00:43:51,920 way. He created this feedback loop. 824 00:43:52,560 --> 00:43:55,360 They have to keep lending these shitty cuck bucks into 825 00:43:55,360 --> 00:43:56,920 existence. He's like, yeah, I got a 826 00:43:56,960 --> 00:43:59,160 business. I'm a fiscally responsible guy. 827 00:43:59,160 --> 00:44:01,320 You can pass it over here. We got a cash flow. 828 00:44:01,320 --> 00:44:03,920 I'll pay the bills. They keep loading the money. 829 00:44:03,920 --> 00:44:06,280 He's like, you fucking dummies. He keeps just putting it into 830 00:44:06,280 --> 00:44:08,240 Bitcoin, dude. It's one of the most epic 831 00:44:08,240 --> 00:44:09,480 things. He's going to go down in the 832 00:44:09,480 --> 00:44:12,360 history books as the greatest fucking traitor in all of human 833 00:44:12,360 --> 00:44:14,920 history. Dude, he's he's leveraging the 834 00:44:14,920 --> 00:44:18,400 Fiat system to speculatively attack the dollar. 835 00:44:18,400 --> 00:44:19,680 That's what's happening right now. 836 00:44:19,680 --> 00:44:22,080 Am I wrong all? Your models are destroyed. 837 00:44:22,880 --> 00:44:24,400 Chat, dude. He's attack. 838 00:44:24,400 --> 00:44:28,640 He's attacking the Fiat system. He can't Fiat system Nico. 839 00:44:28,640 --> 00:44:31,360 He can't actually say that's what he's doing. 840 00:44:31,360 --> 00:44:35,440 Need to say that when he wears that shirt on TV with that giant 841 00:44:35,440 --> 00:44:38,920 smile, and when he eventually starts growing in a beard in 842 00:44:38,920 --> 00:44:41,520 about a year or two, then it's going to be confirmed. 843 00:44:41,520 --> 00:44:44,520 He might not say it publicly, but it will be confirmed at that 844 00:44:44,520 --> 00:44:47,440 point. Going to be a big godly beard? 845 00:44:49,560 --> 00:44:50,880 For sure it is. It might start more. 846 00:44:50,880 --> 00:44:52,720 Lasers coming out real. Yeah. 847 00:44:52,960 --> 00:44:54,440 All. Got 1,000,000 bucks, He's going 848 00:44:54,440 --> 00:44:55,240 to wear all white. He's. 849 00:44:55,240 --> 00:44:58,800 Going to be wearing all weight anyways, Opti. 850 00:44:58,800 --> 00:45:00,040 What's your take on all this, brother? 851 00:45:00,600 --> 00:45:04,320 Dude, I've been saying for a while, man, you know, I wish I 852 00:45:04,320 --> 00:45:06,520 had this infinite money glitch that Sailor has. 853 00:45:06,520 --> 00:45:09,880 He's just, he's absolutely putting on a master class. 854 00:45:10,200 --> 00:45:13,240 And you know, I was, I was watching these numbers. 855 00:45:13,240 --> 00:45:17,120 I think I mentioned it last week on Friday when we were covering 856 00:45:17,120 --> 00:45:20,520 the spot ETF numbers. And it's like, man, it looks 857 00:45:20,520 --> 00:45:24,640 like BlackRock might actually overtake Michael Chad Saylor and 858 00:45:24,640 --> 00:45:27,600 Micro Strategy. And remember we we were covering 859 00:45:27,600 --> 00:45:29,840 this news over the weekend. Nico, it's like what? 860 00:45:30,040 --> 00:45:34,960 When that microphone last. Last what what's it what what's 861 00:45:34,960 --> 00:45:36,880 the sale? I I I'm blanking on what he 862 00:45:36,880 --> 00:45:39,280 calls it. But it was at 600 million and 863 00:45:39,280 --> 00:45:42,720 then Friday came out, it was 700 million and then on Monday 864 00:45:42,720 --> 00:45:45,760 morning it's 800 million. He's like, dude, I am not gonna 865 00:45:45,760 --> 00:45:49,960 let you guys overtake me and like you said, you know 5000 866 00:45:49,960 --> 00:45:53,640 Bitcoin away from getting 1% of the total Bitcoin supply. 867 00:45:54,040 --> 00:45:57,600 Now the real question is, is, is he gonna be able to keep this 868 00:45:57,600 --> 00:45:59,400 up? Because BlackRock seems to be 869 00:45:59,400 --> 00:46:02,720 taking an incredible amount of Bitcoin. 870 00:46:02,920 --> 00:46:04,920 I know, I know, he's going to get. 871 00:46:06,360 --> 00:46:08,080 Passed, but he had the last say. He got it. 872 00:46:08,560 --> 00:46:09,280 He. Got it. 873 00:46:09,280 --> 00:46:12,160 But man it's just it's absolutely incredible and and 874 00:46:12,160 --> 00:46:15,960 really like the signal here is of course not only that sailor 875 00:46:15,960 --> 00:46:18,880 does seem more happy you know he's having a good time. 876 00:46:18,880 --> 00:46:24,440 He's wearing Bitcoin merch on on the show and it's just win 877 00:46:24,600 --> 00:46:28,600 another couple billionaires or one more billionaire comes out 878 00:46:28,600 --> 00:46:31,600 and starts playing this game. Not only is that going to like 879 00:46:31,600 --> 00:46:34,760 it's going to really blow the price up and the game theory is 880 00:46:34,760 --> 00:46:36,160 really going to start to take hold. 881 00:46:36,640 --> 00:46:39,960 But it's going to be incredibly hard for any other high net 882 00:46:39,960 --> 00:46:43,080 worth individual to ever catch up to Michael Saylor or 883 00:46:43,080 --> 00:46:45,320 BlackRock. And they won't be able to. 884 00:46:45,320 --> 00:46:47,240 Yeah, they won't be able to. It's going to be absolutely 885 00:46:47,240 --> 00:46:50,280 incredible. Like we Sailor might like like 886 00:46:50,280 --> 00:46:52,840 Eric was saying, sailor's probably gonna go down as not 887 00:46:52,840 --> 00:46:55,240 only the best trader, but probably the richest man in the 888 00:46:55,240 --> 00:46:58,680 world coming up now. And it's like, man, what a what 889 00:46:58,680 --> 00:47:00,800 a time to be alive. And that we all watch this 890 00:47:00,800 --> 00:47:03,160 happen in real time. And remember, Nico, you were 891 00:47:03,160 --> 00:47:06,520 talking to him in in Madera and he's all like, I have no idea 892 00:47:06,520 --> 00:47:09,160 why no one else is doing this. Yeah, he's like it's the 893 00:47:09,160 --> 00:47:11,920 simplest trade ever. What are you guys even doing? 894 00:47:11,920 --> 00:47:13,360 Do you guys even care about money? 895 00:47:13,360 --> 00:47:15,960 And storing your valley like this is the easiest thing ever? 896 00:47:16,080 --> 00:47:17,680 Yeah, 'cause for anyone tuning in, right? 897 00:47:17,680 --> 00:47:21,560 So you know I I was very, very lucky enough to cross paths with 898 00:47:21,560 --> 00:47:24,440 Taylor and and Bitcoin Atlantis and and Malayeda and Portugal. 899 00:47:25,000 --> 00:47:28,480 And I was like dude, like you're clearly outperforming you know 900 00:47:28,480 --> 00:47:30,360 you you had, I didn't say dude but I was like you're 901 00:47:30,360 --> 00:47:34,000 outperforming stuff. You know you you did your, your, 902 00:47:34,400 --> 00:47:38,600 your your quarter one you know micro strategy presentation. 903 00:47:38,600 --> 00:47:41,400 He's like flexing having him. He's doing the presentation with 904 00:47:41,400 --> 00:47:44,440 the numbers next to him. Micro strategy is outperforming 905 00:47:44,440 --> 00:47:46,200 everything. And I asked the point, but I'm 906 00:47:46,200 --> 00:47:48,720 like why isn't someone copying you by now? 907 00:47:48,720 --> 00:47:51,360 Like this is so obvious. He's like, I don't know, right. 908 00:47:51,600 --> 00:47:54,680 So like, you know and that you can only that you can only do 909 00:47:54,680 --> 00:48:00,040 that for so long until the pressure from markets start to 910 00:48:00,040 --> 00:48:03,160 do what the pressure for markets do best, right. 911 00:48:03,680 --> 00:48:06,720 I don't think it's a coincidence that the CEO of Vanguard stepped 912 00:48:06,720 --> 00:48:10,560 down, you know, a couple weeks or a month or a month after he 913 00:48:10,560 --> 00:48:14,360 said that Vanguard was not going to be allowing their customers 914 00:48:14,360 --> 00:48:18,520 to buy Bitcoin, Right. So again, like, you can take an 915 00:48:18,560 --> 00:48:22,280 ideological stance against this thing, but you know, this 916 00:48:22,280 --> 00:48:24,120 thing's just going to eat your lunch, literally. 917 00:48:24,120 --> 00:48:27,720 Bitcoin is the apex predator. Bitcoin is the black hole. 918 00:48:27,720 --> 00:48:30,880 It's going to, it's going to eat everything in its path and you 919 00:48:30,880 --> 00:48:33,560 either decide to jump on the train or you don't. 920 00:48:33,640 --> 00:48:36,400 Caisson said it best this morning. 921 00:48:36,400 --> 00:48:39,720 I'm going to pull up the tweet because it's extremely, He said. 922 00:48:40,000 --> 00:48:43,880 Bitcoin has won. Those who choose to lay down 923 00:48:43,880 --> 00:48:46,600 their financial arm and capitulate now still have the 924 00:48:46,600 --> 00:48:49,760 opportunity to not get wrecked and keep of some of their wealth 925 00:48:49,760 --> 00:48:52,080 intact. Everyone and everything else 926 00:48:52,080 --> 00:48:55,440 will be devastated. You have been warned 100%, 927 00:48:55,440 --> 00:48:57,520 right? And whether that's the legacy 928 00:48:57,520 --> 00:49:00,640 financial media, whether that's these institutions, I don't care 929 00:49:00,640 --> 00:49:04,320 how long they've been around. If you don't have exposure to 930 00:49:04,320 --> 00:49:08,760 Bitcoin, you're not only doing a disservice to your company, but 931 00:49:08,760 --> 00:49:12,280 if you have clients that are, you know, supposedly looking to 932 00:49:12,280 --> 00:49:16,320 you for financial advice, you're doing a disservice to them as 933 00:49:16,320 --> 00:49:19,240 well, right? And that's, I believe that is 934 00:49:19,240 --> 00:49:22,040 what's gonna be, that's what's gonna become really apparent 935 00:49:22,040 --> 00:49:26,000 this cycle, right. And another indication of that 936 00:49:26,240 --> 00:49:29,080 is not only are we having the legacy financial media 937 00:49:29,080 --> 00:49:34,240 capitulating, this is an opinion piece by the Financial Times. 938 00:49:34,240 --> 00:49:38,920 The Financial Times is again one of the staples of, you know, the 939 00:49:39,120 --> 00:49:41,040 legacy financial. World we don't call them the 940 00:49:41,040 --> 00:49:43,080 Fiat times for nothing. Like, we're literally, like, I 941 00:49:43,080 --> 00:49:45,400 remember when Opti joined, he's like, why the F are we 942 00:49:45,400 --> 00:49:49,400 subscribed to FT and Bloomberg? I'm like, bro, if you want to 943 00:49:49,400 --> 00:49:52,080 know what your enemy's thinking, we have to read what our enemy 944 00:49:52,080 --> 00:49:55,400 is reading, right? And again, so we're very plugged 945 00:49:55,400 --> 00:49:58,320 into what the legacy, the legacy financial media thinks of 946 00:49:58,320 --> 00:50:00,000 Bitcoin because it's really, really important. 947 00:50:00,280 --> 00:50:04,640 And again, this is a capitulation piece, this entire 948 00:50:04,640 --> 00:50:09,200 thing, It's a very, very good, positive step in, in the right 949 00:50:09,200 --> 00:50:11,200 direction. Again, this is once again the 950 00:50:11,200 --> 00:50:14,880 legitimization of Bitcoin in the traditional financial world, 951 00:50:15,000 --> 00:50:16,960 which I know for a lot of bitcoiners, you're like, I don't 952 00:50:16,960 --> 00:50:21,640 give a flying fuck about that, OK, you don't care, but and I 953 00:50:21,640 --> 00:50:23,240 don't think you don't need to care, right? 954 00:50:23,240 --> 00:50:25,320 You know, Eric, Eric Caisson said it best, right? 955 00:50:25,600 --> 00:50:27,920 Bitcoin already won. It's your choice whether you 956 00:50:27,920 --> 00:50:31,040 want to get left behind or not. But still, this vindication 957 00:50:31,040 --> 00:50:33,480 feels good. And this vindication also tells 958 00:50:33,480 --> 00:50:37,280 me that there's a lot more institutional interest coming 959 00:50:37,280 --> 00:50:38,920 in, which means number go up of course. 960 00:50:39,040 --> 00:50:42,360 So anyways, this opinion piece is called Bitcoin Bulls Are not 961 00:50:42,360 --> 00:50:45,160 The Bigger Fools. It's on the Financial Times 962 00:50:45,160 --> 00:50:47,840 website. It goes on to say once dismissed 963 00:50:47,840 --> 00:50:51,000 as fanatics, the Bitcoin bulls must be feeling vindicated. 964 00:50:51,400 --> 00:50:54,360 God damn right we are. They made an accurate call in 965 00:50:54,360 --> 00:50:57,400 the cryptocurrency's potential for gains, witnessed the 966 00:50:57,400 --> 00:51:01,000 staggering rally underway, and we're right, at least in part, 967 00:51:01,200 --> 00:51:04,520 for the right reasons. When Bitcoin was all the rage at 968 00:51:04,520 --> 00:51:07,040 the start of this decade, many serious investors and 969 00:51:07,040 --> 00:51:10,480 traditional economists spurred it as a useless fad, even a 970 00:51:10,480 --> 00:51:13,240 fraud. Their scorn, seemingly confirmed 971 00:51:13,240 --> 00:51:17,240 by its crash in 2022, persists today while the currency 972 00:51:17,240 --> 00:51:21,520 separates itself from the pack. Back in 2021, Bitcoin was often 973 00:51:21,520 --> 00:51:25,200 groped alongside other favorites of the day trading crowds, such 974 00:51:25,200 --> 00:51:27,520 as unprofitable tech and meme stocks. 975 00:51:27,760 --> 00:51:31,040 Today, those other bubblets are traded on average at half their 976 00:51:31,040 --> 00:51:33,360 peaks. While Bitcoin recently hit an 977 00:51:33,360 --> 00:51:37,360 all time high, it is extremely unusual for a bubble to burst 978 00:51:37,360 --> 00:51:41,080 and recover to reach new heights so quickly and suggest that 979 00:51:41,080 --> 00:51:44,400 something real and sustainable is going on. 980 00:51:44,440 --> 00:51:46,640 Again. Guys, you have to understand who 981 00:51:46,640 --> 00:51:49,680 is saying this. This isn't just bitcoiners on 982 00:51:49,680 --> 00:51:53,920 Bitcoin Twitter or bitcoiners on NOSTOR or bitcoiners in general. 983 00:51:54,040 --> 00:51:57,080 This is the legacy financial media telling you this right? 984 00:51:57,360 --> 00:52:01,480 Bitcoins come back as remarkable as well for defying the general 985 00:52:01,480 --> 00:52:04,040 shape of the current bull market, which is heavily 986 00:52:04,040 --> 00:52:06,120 concentrated in the big tech stocks. 987 00:52:06,400 --> 00:52:09,400 Investors have taken the tech heavyweight seriously 988 00:52:09,400 --> 00:52:12,960 throughout, perhaps even more so now that they are seen as the 989 00:52:12,960 --> 00:52:15,840 giants most likely to dominate the future of artificial 990 00:52:15,840 --> 00:52:19,040 intelligence. Bitcoin gets no boost from AI 991 00:52:19,040 --> 00:52:21,400 mania. The Bitcoin bulls have been 992 00:52:21,400 --> 00:52:24,920 proven mostly right about its prospects as a long term 993 00:52:24,920 --> 00:52:28,160 investment and in this regard as the king of crypto. 994 00:52:28,160 --> 00:52:33,440 Since the low point in the late 2022, its prices up around 300%, 995 00:52:33,600 --> 00:52:37,840 more than all but one of the top 10 cryptos, more of what is the 996 00:52:37,840 --> 00:52:41,520 fastest growing from a much larger base, with a market cap 997 00:52:41,520 --> 00:52:46,080 of more than 1.3 trillion. Skeptics doubted that Bitcoin 998 00:52:46,080 --> 00:52:49,440 could ever be taken seriously while its price was swinging so 999 00:52:49,440 --> 00:52:51,720 wildly. But its volatility has been 1000 00:52:51,720 --> 00:52:55,120 dropping sharply, according to Bloomberg and at its historic 1001 00:52:55,120 --> 00:52:58,520 loads nearly five times less volatile than at the dizzying 1002 00:52:58,520 --> 00:53:02,320 highs of the past decade. It is, though, still less safe 1003 00:53:02,320 --> 00:53:05,680 as a currency than the dollar. I disagree with that. 1004 00:53:05,800 --> 00:53:09,040 Or as an investment than gold. I disagree with that also. 1005 00:53:09,200 --> 00:53:12,400 The fundamental story has not confirmed the bull's case for 1006 00:53:12,400 --> 00:53:15,720 Bitcoin in every way. They expected that, lifted by 1007 00:53:15,720 --> 00:53:19,040 its popularity among the youth, it would become the new digital 1008 00:53:19,040 --> 00:53:20,920 gold. That's still a dream. 1009 00:53:21,080 --> 00:53:24,440 Gold has been more than holding its own trading at all time 1010 00:53:24,440 --> 00:53:28,280 highs and far above its fair value base on inflation 1011 00:53:28,280 --> 00:53:30,840 expectations. To diversify away from the 1012 00:53:30,840 --> 00:53:35,440 dollar, central banks worldwide are buying gold, not Bitcoin, at 1013 00:53:35,440 --> 00:53:36,600 record pace. What? 1014 00:53:36,600 --> 00:53:39,080 I mean, what I gotta say about, you know, the central banks 1015 00:53:39,080 --> 00:53:42,120 doing that is have fun staying poor. 1016 00:53:42,960 --> 00:53:47,320 And here's Dylan Leclair right, accurately pointing out, you 1017 00:53:47,320 --> 00:53:49,160 know, the micro strategy playbook. 1018 00:53:49,360 --> 00:53:52,160 Micro strategy issues debt to buy Bitcoin, Bitcoin against 1019 00:53:52,160 --> 00:53:56,080 debt, micro strategy market cap, micro market cap goes up, weight 1020 00:53:56,120 --> 00:53:59,400 in indices goes up, Micro strategy issues, equity to buy 1021 00:53:59,400 --> 00:54:02,080 Bitcoin, Bitcoin. And they just rinse and repeat, 1022 00:54:02,400 --> 00:54:03,920 right? How long until people figure 1023 00:54:03,920 --> 00:54:06,200 this out? How long into a central bank 1024 00:54:06,400 --> 00:54:09,840 figures this out, right? How long until that happens? 1025 00:54:10,000 --> 00:54:13,600 It's not a question of if, it's a question of when, right. 1026 00:54:13,800 --> 00:54:17,440 So expect more of these vindication articles coming out 1027 00:54:17,440 --> 00:54:20,800 from legacy financial media. Expect the legacy financial 1028 00:54:20,800 --> 00:54:24,320 video media to talk more and more and more bit about Bitcoin 1029 00:54:24,480 --> 00:54:27,360 over the next couple weeks. Man, I I agree with Eric. 1030 00:54:27,360 --> 00:54:29,600 I think we won. This is what winning feels like. 1031 00:54:29,800 --> 00:54:32,440 You know, maybe it's the first innings of it, maybe we're in 1032 00:54:32,440 --> 00:54:35,440 the process of jumping that chasm, you know, between the 1033 00:54:35,440 --> 00:54:37,520 early innovators and early majority. 1034 00:54:37,680 --> 00:54:41,240 But yeah, I mean, you know why I say we're winning guys? 1035 00:54:41,240 --> 00:54:44,720 Because never in Bitcoin's history has. 1036 00:54:44,720 --> 00:54:47,440 And shout out to Sailor for putting his neck on the line. 1037 00:54:47,840 --> 00:54:52,600 He put his public company on the line and his neck on the line 1038 00:54:52,600 --> 00:54:56,360 and said listen Bitcoin. A Bitcoin strategy is a 1039 00:54:56,360 --> 00:54:58,480 necessity. It's it's not an option. 1040 00:54:59,000 --> 00:55:02,120 And he was proven right. And on the nation state level, 1041 00:55:02,200 --> 00:55:06,200 you have El Salvador also being proven tremendously right. 1042 00:55:06,560 --> 00:55:08,320 Right. And again, do you think it's a 1043 00:55:08,320 --> 00:55:11,320 coincidence that the, the country with the most popular 1044 00:55:11,320 --> 00:55:16,160 president on the face in in in the Americas has also made 1045 00:55:16,160 --> 00:55:18,600 Bitcoin legal tender? Do you think it's a coincidence 1046 00:55:18,600 --> 00:55:21,800 that they have somehow figured out the security situation on 1047 00:55:21,800 --> 00:55:24,760 the ground of their country and no other country has You know, 1048 00:55:24,760 --> 00:55:25,920 do you think that's a coincidence? 1049 00:55:25,920 --> 00:55:27,960 Is sure a lot of coincidence these days. 1050 00:55:28,320 --> 00:55:30,520 Anyways, that's what I got to say about that, man. 1051 00:55:30,520 --> 00:55:33,560 But this is, this feels good, Opti, this feels good. 1052 00:55:33,560 --> 00:55:36,760 This is vindication for, you know, bit corners that have been 1053 00:55:36,760 --> 00:55:38,080 here for a couple of years, you know. 1054 00:55:38,520 --> 00:55:41,760 Yeah, well, I just want to quickly touch on the the Fiat 1055 00:55:41,760 --> 00:55:47,360 Times article. You know, I find it very telling 1056 00:55:47,360 --> 00:55:50,240 that this is just an opinion piece, not necessarily like a 1057 00:55:50,240 --> 00:55:52,680 news story. And if since we've been 1058 00:55:52,680 --> 00:55:55,640 following, you know, like I had to catch up and I like at first 1059 00:55:55,640 --> 00:55:57,640 like I was even like Nico mentioned, you know, I'm like 1060 00:55:57,640 --> 00:56:00,200 why are we following these? Like this is all trash. 1061 00:56:00,480 --> 00:56:03,760 But you realize that a lot of signal gets leaked out in quote, 1062 00:56:03,760 --> 00:56:07,280 UN quote opinion pieces. And that's how you start to kind 1063 00:56:07,280 --> 00:56:10,400 of spread that signal so that it's palatable for most people 1064 00:56:10,800 --> 00:56:13,280 and men. Again, this is vindication. 1065 00:56:13,280 --> 00:56:16,160 We're seeing all kinds of articles come out from and the 1066 00:56:16,160 --> 00:56:19,720 corporate press like this about being maybe the Bitcoiners were 1067 00:56:19,720 --> 00:56:21,360 right about this. I think there was one. 1068 00:56:21,360 --> 00:56:23,760 I forget where it was. It was like Yahoo or something 1069 00:56:24,320 --> 00:56:26,920 on Friday where they're basically saying the same thing. 1070 00:56:26,920 --> 00:56:28,560 Like, oh, the Bitcoin bulls are correct. 1071 00:56:28,720 --> 00:56:30,280 And I absolutely love that headline. 1072 00:56:30,280 --> 00:56:33,280 You know, Bitcoin bulls. We're not the biggest bulls in 1073 00:56:33,280 --> 00:56:35,000 the room. We might actually be the smarter 1074 00:56:35,000 --> 00:56:37,600 ones in the room. And finally, you know, we're 1075 00:56:37,600 --> 00:56:41,120 we're in the cycle where it's, you know, I always joke about 1076 00:56:41,880 --> 00:56:44,400 the Bitcoin cycles. There's like three years where 1077 00:56:44,400 --> 00:56:47,840 you are considered an idiot and then one year of you being 1078 00:56:47,840 --> 00:56:51,400 considered a genius. And how we're getting into maybe 1079 00:56:51,400 --> 00:56:54,160 we're going to be geniuses for more than just one year. 1080 00:56:54,320 --> 00:56:58,360 So hey, it feels good seeing the Fiat time slowly trickle that 1081 00:56:58,360 --> 00:57:02,160 signal out there and you start to see that the tide is 1082 00:57:02,160 --> 00:57:05,400 shifting, that people are starting to wake up to Bitcoin 1083 00:57:05,400 --> 00:57:08,880 as a viable alternative to everything else. 1084 00:57:08,880 --> 00:57:12,000 And now it's palatable. And now everyone's like, wait, I 1085 00:57:12,000 --> 00:57:15,080 need a Bitcoin strategy or else I'm getting left in the dust. 1086 00:57:15,080 --> 00:57:18,520 So I don't even think we've seen the start of the FOMO yet. 1087 00:57:18,520 --> 00:57:21,680 I I again, I'm not getting tech. Like my friends still think 1088 00:57:21,680 --> 00:57:24,480 they're they're like, well, my friend this morning was texting 1089 00:57:24,480 --> 00:57:27,080 me about like, oh I'm buying Reddit stock, it's going to be 1090 00:57:27,080 --> 00:57:29,600 the next GameStop. And I'm like, bro, I've been 1091 00:57:29,600 --> 00:57:32,720 telling you about Bitcoin for years now and you still don't 1092 00:57:32,720 --> 00:57:35,000 listen to me. So I don't even think we've 1093 00:57:35,000 --> 00:57:39,480 gotten into the retail FOMO yet. But hey, Wall Street is starting 1094 00:57:39,480 --> 00:57:42,840 to really catch that FOMO bug, and I'm mad I'm here for it. 1095 00:57:43,400 --> 00:57:44,880 Oh man. Eric, what's your take on all 1096 00:57:44,880 --> 00:57:46,800 this, bro? Are we winning or are we 1097 00:57:46,800 --> 00:57:48,600 winning? Oh, we're winning. 1098 00:57:48,640 --> 00:57:50,800 And it's game theoretic. You know, the thing that's so 1099 00:57:51,680 --> 00:57:55,240 awesome with what Sailor's done is as if other corporations 1100 00:57:55,240 --> 00:57:57,600 don't do it. He's going to own the world. 1101 00:57:57,600 --> 00:58:01,440 He's going to have corporation. He's going to start diluting his 1102 00:58:01,440 --> 00:58:04,040 shares to just buy up all the other companies, you know, and 1103 00:58:04,320 --> 00:58:07,720 and unethical companies that have a history of just perpetual 1104 00:58:07,720 --> 00:58:10,480 scumbaggery like Nestle, for example. 1105 00:58:10,920 --> 00:58:13,600 Come the end of the year, when the accounting rules change, 1106 00:58:14,240 --> 00:58:17,280 they're going to be incentivized to buy Bitcoin instead of go to 1107 00:58:17,280 --> 00:58:20,080 some impoverished village somewhere, drill a well and then 1108 00:58:20,080 --> 00:58:23,200 sell water to people who are starving and thirsty and have no 1109 00:58:23,200 --> 00:58:25,840 money, right. And so it's the game theory 1110 00:58:25,840 --> 00:58:29,680 that, like, you either join Bitcoin or you get wrecked, you 1111 00:58:29,680 --> 00:58:31,600 know? And it's like, yeah, it's a big 1112 00:58:31,600 --> 00:58:34,040 deal. I think that what he's done is 1113 00:58:34,040 --> 00:58:36,440 just epic. And it's my understanding too 1114 00:58:36,440 --> 00:58:41,640 that he single handedly like pushed the accounting board over 1115 00:58:41,640 --> 00:58:43,480 the edge and orange peeled these people. 1116 00:58:43,920 --> 00:58:46,320 And I do also think that the reason that these other 1117 00:58:46,320 --> 00:58:49,440 companies aren't doing it is because of the accounting 1118 00:58:49,440 --> 00:58:53,600 practices and the fact that it's it's bad for their P&L and there 1119 00:58:53,600 --> 00:58:56,000 are a bunch of normies. These companies are ran by 1120 00:58:56,000 --> 00:58:58,920 people, board of directors. They have a board of directors 1121 00:58:58,920 --> 00:59:01,800 who don't understand this. They especially if you're a 1122 00:59:01,800 --> 00:59:04,720 board member of a mega corporation, you've been a 1123 00:59:04,720 --> 00:59:06,440 contillionaire, you've been winning. 1124 00:59:06,440 --> 00:59:09,440 So you don't have that economic pain and that like large 1125 00:59:09,440 --> 00:59:12,440 incentive for you to figure out how to escape the problems 1126 00:59:12,440 --> 00:59:14,200 because your life has actually been quite good. 1127 00:59:14,680 --> 00:59:18,200 And so that's all changing now because if these people don't do 1128 00:59:18,200 --> 00:59:21,120 it, if these corporations don't adopt the treasury reserve 1129 00:59:21,120 --> 00:59:23,320 standard like Sailor did, they're toasts. 1130 00:59:23,680 --> 00:59:25,840 And so that's just super exciting. 1131 00:59:25,840 --> 00:59:29,760 Same thing with nation states. El Salvador, I look, so dude, 20 1132 00:59:29,760 --> 00:59:30,920 years. It's going to be epic to see 1133 00:59:30,920 --> 00:59:32,600 what El Salvador looks like, dude. 1134 00:59:32,920 --> 00:59:35,640 It's like, dude, it's so exciting. 1135 00:59:35,640 --> 00:59:38,760 And it's not like nobody has to make some, like, painful, 1136 00:59:38,760 --> 00:59:41,040 terrible sacrifice to do the right thing. 1137 00:59:41,040 --> 00:59:43,440 Like, you do the right thing and you get paid the most. 1138 00:59:43,440 --> 00:59:47,200 You come up the hardest. And so yeah, it's awesome, man. 1139 00:59:47,440 --> 00:59:48,760 Absolutely. Awesome, man. 1140 00:59:48,760 --> 00:59:51,000 It feels it feels good. It feels good to win. 1141 00:59:51,000 --> 00:59:52,320 Ladies and gentlemen, take it in. 1142 00:59:52,680 --> 00:59:56,560 If you guys got in before January of 2024, you frant ran 1143 00:59:56,560 --> 01:00:00,000 Wall Street and feel good, feel good. 1144 01:00:00,000 --> 01:00:02,160 This is all vindication, ladies and gentlemen. 1145 01:00:02,160 --> 01:00:03,560 They're. Telling. 1146 01:00:03,680 --> 01:00:05,000 Us. They're telling us. 1147 01:00:05,400 --> 01:00:07,680 They're saying it. They're saying it on video. 1148 01:00:07,680 --> 01:00:09,680 They're saying it, you know, in the papers. 1149 01:00:09,680 --> 01:00:11,040 It feels, feels really, really good. 1150 01:00:11,320 --> 01:00:14,480 Anyways, guys, I do want to give a very special shout out to our 1151 01:00:14,480 --> 01:00:16,000 sponsor. Of course I'm talking about 1152 01:00:16,000 --> 01:00:19,600 Bitcoin evangelism, and it's a book by Brian de Mint. 1153 01:00:19,600 --> 01:00:22,000 It's called Bitcoin Evangelism, Planting Seeds for the 1154 01:00:22,000 --> 01:00:24,640 Centralized Revolution. We Have 10 Million People to 1155 01:00:24,640 --> 01:00:26,760 Orange Pill. Bitcoin Evangelism by Brian De 1156 01:00:26,760 --> 01:00:30,720 Mint is an absolute beast of a resource for orange billing, no 1157 01:00:30,720 --> 01:00:33,600 coiners and all corners alike. This is a book for Bitcoiners 1158 01:00:33,600 --> 01:00:35,920 who know Bitcoin but have a hard time explaining it to their 1159 01:00:35,920 --> 01:00:37,800 friends. It's a book for bitcoiners who 1160 01:00:37,800 --> 01:00:40,800 are trying to explain Bitcoin only to all coiners. 1161 01:00:40,800 --> 01:00:43,040 It's available on Amazon right now. 1162 01:00:43,160 --> 01:00:47,320 Scan the QR code on your screen or check the link in the video 1163 01:00:47,320 --> 01:00:48,880 description. All right, everybody, let's hit 1164 01:00:48,880 --> 01:00:53,360 the culture. The Daily Culture. 1165 01:00:59,760 --> 01:01:01,800 Right, ladies and gentlemen, before we get to the culture, I 1166 01:01:01,800 --> 01:01:04,840 do want to give a shout out to our sponsor copy racks. 1167 01:01:04,840 --> 01:01:07,880 They're the most trusted place to buy sell host mining 1168 01:01:07,880 --> 01:01:09,520 equipment. You can check out their racks 1169 01:01:09,520 --> 01:01:13,640 today by scanning the QR code on your screen or check the link in 1170 01:01:13,640 --> 01:01:15,920 the video description. It will take you directly to the 1171 01:01:15,920 --> 01:01:18,600 Telegram market marketplace where you can connect with the 1172 01:01:18,600 --> 01:01:20,880 member of their sales team. They make purchasing their 1173 01:01:20,880 --> 01:01:23,960 products easy and transparent. You can also sell your mining 1174 01:01:23,960 --> 01:01:27,640 equipment with them access their vast network of domestic and 1175 01:01:27,640 --> 01:01:30,040 international customers. When you sell your mining 1176 01:01:30,040 --> 01:01:32,080 equipment with kaboom racks, what are you waiting for? 1177 01:01:32,080 --> 01:01:35,200 This is where I personally buy my Bitcoin mining ASICS. 1178 01:01:35,360 --> 01:01:38,920 Check out kaboom racks today. All right, OPTI, what are we 1179 01:01:38,920 --> 01:01:40,120 talking about? During the culture, man? 1180 01:01:40,120 --> 01:01:42,040 We got Eric here. We got to we got to take 1181 01:01:42,040 --> 01:01:44,960 advantage of him joining us. We got the news out of the way. 1182 01:01:45,600 --> 01:01:48,960 Yeah, yeah. So just like everyone on our 1183 01:01:48,960 --> 01:01:51,760 show, in our chat, they they love Bitcoin origin stories. 1184 01:01:51,760 --> 01:01:54,280 So I know we're gonna tee you up for some rants, but let's just 1185 01:01:54,280 --> 01:01:55,960 start with the Bitcoin origin story. 1186 01:01:55,960 --> 01:01:58,720 So, Eric, why'd you become a bitcoiner? 1187 01:01:58,720 --> 01:02:00,160 What? What's What's the deal here, 1188 01:02:00,160 --> 01:02:03,360 bro? So I'll give you the most 1189 01:02:03,760 --> 01:02:06,800 comprehensive version of that story and keep it as short as I 1190 01:02:06,800 --> 01:02:09,520 can. My parents divorced when I was 1191 01:02:09,520 --> 01:02:12,000 five years old. My mother remarried a 1192 01:02:12,000 --> 01:02:14,480 psychiatrist. He worked in the prison systems 1193 01:02:14,480 --> 01:02:17,040 and he fucking gave all these inmates a bunch of pills. 1194 01:02:17,360 --> 01:02:20,720 And as a result, multiple family members of mine got into anti 1195 01:02:20,720 --> 01:02:24,840 anxiety and antidepressants. You know, societally accepted. 1196 01:02:24,840 --> 01:02:26,760 And they thought that they were doing the right thing because 1197 01:02:26,760 --> 01:02:30,240 here's this individual with a doctorate degree who's credible 1198 01:02:30,240 --> 01:02:32,960 and whatever. And so by the time I hit my 1199 01:02:32,960 --> 01:02:36,920 teenage years, I developed an affinity for cannabis and an 1200 01:02:36,920 --> 01:02:41,320 aversion to pharmaceuticals. And what now I look back at is 1201 01:02:41,320 --> 01:02:47,400 just the Fiat world. And that led me into ended up in 1202 01:02:47,400 --> 01:02:50,440 Humboldt County. In 2009 I got invited to 1203 01:02:50,440 --> 01:02:54,520 Humboldt County to trim a on a trim scene, an outdoor harvest 1204 01:02:54,520 --> 01:02:57,680 with, I don't know, a bunch of ganja and it was a medical 1205 01:02:57,680 --> 01:03:00,600 marijuana farm. And for me that was kind of a 1206 01:03:00,600 --> 01:03:02,360 dream come true. I never left. 1207 01:03:02,360 --> 01:03:06,200 I've been here since and I started to professionally 1208 01:03:06,200 --> 01:03:11,120 cultivate cannabis and I had all of my ducks in a row when Prop 1209 01:03:11,200 --> 01:03:14,760 64 was passed. And so I purchased a property in 1210 01:03:14,760 --> 01:03:17,200 consultation with Humboldt County and the state of 1211 01:03:17,200 --> 01:03:20,160 California to become a licensed cannabis farmer. 1212 01:03:20,400 --> 01:03:24,360 And that was in 2016. It was a two year process of me 1213 01:03:24,640 --> 01:03:27,600 owning this farm, becoming licensed and then in turn 1214 01:03:27,600 --> 01:03:30,760 selling the the property. It was the 1st house in the 1215 01:03:30,760 --> 01:03:32,640 first acreage that I had purchased. 1216 01:03:33,000 --> 01:03:36,160 So I spent, I don't know a year going down the rabbit hole 1217 01:03:36,160 --> 01:03:39,680 learning about our economy and our money system and the boom 1218 01:03:39,680 --> 01:03:42,480 bust cycles. You know, I was 33 years old at 1219 01:03:42,480 --> 01:03:45,400 the time and obviously I own this land, so I had a huge 1220 01:03:45,400 --> 01:03:48,960 economic incentive to understand what forces I was contending 1221 01:03:48,960 --> 01:03:52,480 with and that sent me to understanding hard money and 1222 01:03:52,480 --> 01:03:56,400 then Bitcoin. It was like 2017 in November 1223 01:03:56,400 --> 01:03:59,720 when I discovered Bitcoin and my mind exploded. 1224 01:03:59,920 --> 01:04:04,480 I couldn't believe it because I had seen demand meet supply and 1225 01:04:04,480 --> 01:04:07,520 as demand meet supply with anything and in my case it was 1226 01:04:07,520 --> 01:04:12,400 cannabis, the the value of that product was going down and my 1227 01:04:12,400 --> 01:04:17,160 basic understanding at the time of Bitcoin and having this hard 1228 01:04:17,160 --> 01:04:21,400 capped money which essentially money has infinite demand on it. 1229 01:04:21,400 --> 01:04:23,920 It's a call option on any good or service that the marketplace 1230 01:04:23,920 --> 01:04:25,640 produces. So everybody on planet earth 1231 01:04:25,640 --> 01:04:28,360 wants money. So you got infinite demand with 1232 01:04:28,440 --> 01:04:31,000 true scarcity. So as the demand goes up for 1233 01:04:31,000 --> 01:04:34,640 Bitcoin, the supply doesn't doesn't change as the demand was 1234 01:04:34,640 --> 01:04:38,040 going up for cannabis, their prices bid up. 1235 01:04:38,040 --> 01:04:40,880 It's more of an economic incentive for entrepreneurs and 1236 01:04:40,880 --> 01:04:44,240 capital to move into the cannabis business and meet that 1237 01:04:44,240 --> 01:04:47,000 demand, with supply driving the price down. 1238 01:04:47,440 --> 01:04:52,480 And so my stumbling down the rabbit hole, if you will, really 1239 01:04:52,480 --> 01:04:55,920 helped me to understand that I had an existential crisis and my 1240 01:04:55,920 --> 01:04:59,040 dream come true. I ended up getting licensed in 1241 01:04:59,040 --> 01:05:03,800 the first week of January 2018, which was the beginning of 1242 01:05:04,080 --> 01:05:05,960 licensure from the state of California. 1243 01:05:05,960 --> 01:05:07,480 It was like a dream come true for me. 1244 01:05:07,480 --> 01:05:10,400 Since I was 15 years old. I had been, I don't know, kind 1245 01:05:10,400 --> 01:05:14,040 of like an outcast for liking cannabis and no other drugs. 1246 01:05:14,040 --> 01:05:16,520 My I had an affinity for cannabis because it's a fucking 1247 01:05:16,520 --> 01:05:19,760 plant and it's anti cancerous and it's, you know, I don't 1248 01:05:19,800 --> 01:05:21,080 know. I think that people should at 1249 01:05:21,080 --> 01:05:24,200 the very least have the option to consume cannabis and not go 1250 01:05:24,200 --> 01:05:27,560 to jail if they want to, right? And so this was an epic 1251 01:05:27,560 --> 01:05:32,080 monumental achievement for me in my life turn absolute nightmare. 1252 01:05:32,520 --> 01:05:36,360 You know, as an example, 10 years ago a bulk wholesale 1253 01:05:36,360 --> 01:05:42,400 premier pound of cannabis was $3000, and today a better pound 1254 01:05:42,400 --> 01:05:45,640 is like 800 bucks. But my cost of living is 1255 01:05:45,640 --> 01:05:48,160 doubled, if not tripled. So I make anywhere between like 1256 01:05:48,160 --> 01:05:53,840 1/6 to 118th per unit produced. And so that's the deflationary 1257 01:05:53,840 --> 01:05:55,800 forces that we're experiencing in the world. 1258 01:05:56,120 --> 01:05:59,320 And at the time when I own this property, I intuitively knew 1259 01:05:59,360 --> 01:06:04,080 that I had a problem and my, I don't know, come to Bitcoin 1260 01:06:04,080 --> 01:06:07,720 moment, if you will, was what? What incentivized me to sell the 1261 01:06:07,720 --> 01:06:11,640 property and pivot my business strategy to consulting. 1262 01:06:12,120 --> 01:06:16,760 And when the Sailor series hit, that's when I was all in. 1263 01:06:16,760 --> 01:06:19,640 I panic sold essentially sweating bullets, just like 1264 01:06:19,640 --> 01:06:22,840 everything that I possibly could and piled all into Bitcoin. 1265 01:06:23,160 --> 01:06:26,240 And actually I I haven't purchased a house since I sold 1266 01:06:26,240 --> 01:06:28,240 that property. And I live in a rental. 1267 01:06:28,240 --> 01:06:30,680 I own two vehicles. I got a wife, I got one kid, and 1268 01:06:30,680 --> 01:06:32,400 I live in a rental and I own Bitcoin. 1269 01:06:32,800 --> 01:06:34,800 And it's quite liberating, honestly. 1270 01:06:34,800 --> 01:06:40,000 It's a it's a powerful feeling. And it's also, you know, for me, 1271 01:06:40,000 --> 01:06:43,920 every time I bag a pound, it's a fuck you to big Pharma. 1272 01:06:43,920 --> 01:06:46,880 You don't have multiple family members who died as a result of 1273 01:06:46,880 --> 01:06:49,440 getting into pharmaceuticals. My mother committed suicide when 1274 01:06:49,440 --> 01:06:52,320 I was 20 years old because she had been taking antidepressants 1275 01:06:52,320 --> 01:06:55,680 for, you know, 10 years, 15 years, and they didn't solve any 1276 01:06:55,680 --> 01:06:59,520 of her problems. So now, like, I stack Sats and 1277 01:06:59,520 --> 01:07:01,880 it's a fuck you to the big Fiat world, right. 1278 01:07:01,880 --> 01:07:05,520 And so there's a lot of things that are aligned there that are 1279 01:07:05,520 --> 01:07:07,640 kind of powerful and mean a lot to me. 1280 01:07:08,840 --> 01:07:10,280 Yeah. So I'm. 1281 01:07:10,480 --> 01:07:12,320 I'm a hardcore bitcoiner. No shit. 1282 01:07:12,320 --> 01:07:13,160 Coins. Nothing. 1283 01:07:13,160 --> 01:07:14,280 No gold. None of it. 1284 01:07:14,280 --> 01:07:16,480 All Bitcoin. All Bitcoin forever. 1285 01:07:16,480 --> 01:07:18,680 I'll ride this thing to Infinity or to zero. 1286 01:07:18,680 --> 01:07:25,440 I don't give a fuck, dude. Let's go, Let's go. 1287 01:07:25,440 --> 01:07:27,840 Oh man. He literally sold his chairs for 1288 01:07:27,840 --> 01:07:30,000 Bitcoin. Let's, let's talk about what? 1289 01:07:30,040 --> 01:07:31,880 You are shit coins, ladies and gentlemen. 1290 01:07:32,440 --> 01:07:35,480 We're not in chairs right now. Let's talk about what you were 1291 01:07:35,480 --> 01:07:39,400 telling us before we even went live on how you have no concern 1292 01:07:39,400 --> 01:07:42,800 over Bitcoin regulations and how regulations are going to have to 1293 01:07:42,800 --> 01:07:45,120 bend the knee to Bitcoin, especially considering what you 1294 01:07:45,120 --> 01:07:46,560 just told us. I think that's great. 1295 01:07:46,560 --> 01:07:52,360 Great segue. Yeah, so in 1996, Prop 215 was 1296 01:07:52,360 --> 01:07:54,600 passed in the state of California, which was the 1297 01:07:54,600 --> 01:07:58,680 regulation that put into effect lawful production and 1298 01:07:58,680 --> 01:08:02,680 distribution of cannabis or medical marijuana at the time 1299 01:08:02,920 --> 01:08:05,760 for qualified patient members. You could go to a doctor. 1300 01:08:05,760 --> 01:08:09,000 If the doctor and it turned into a pay to play, you know what 1301 01:08:09,000 --> 01:08:10,440 kind of situation. You go to the doctor, you say 1302 01:08:10,440 --> 01:08:12,840 hey I have aches or pains or I have terminal cancer and 1303 01:08:12,840 --> 01:08:15,000 everything in between and they'll write you a prescription 1304 01:08:15,240 --> 01:08:17,880 for cannabis which allows you to go to a dispensary. 1305 01:08:18,240 --> 01:08:21,760 They purchased cannabis. Well the result of that over 22 1306 01:08:21,760 --> 01:08:27,479 years until Prop 64 passed an adult use recreational cannabis 1307 01:08:27,479 --> 01:08:32,600 was voted into effect was a multi billion dollar industry. 1308 01:08:32,760 --> 01:08:35,800 So you have this existing multi billion dollar industry and in 1309 01:08:36,040 --> 01:08:41,080 2016 the people of the state of California voted to pass adult 1310 01:08:41,080 --> 01:08:44,720 use recreational cannabis. It became like really legal. 1311 01:08:44,720 --> 01:08:47,319 It wasn't this quote UN quote Gray market that had it. 1312 01:08:47,479 --> 01:08:49,359 It had been for the prior 20 years. 1313 01:08:50,040 --> 01:08:54,120 And what ended up happening is, is that when the the the new 1314 01:08:54,120 --> 01:08:57,640 regs or the new rule passed then the regulators in the state of 1315 01:08:57,640 --> 01:09:01,720 California had to come in and bring in Rule sets regulations 1316 01:09:01,720 --> 01:09:04,279 for an existing multi billion dollar industry. 1317 01:09:04,479 --> 01:09:06,319 And they do what regulators do best. 1318 01:09:06,319 --> 01:09:09,000 The sailor would say a bunch of well-intentioned politicians 1319 01:09:09,000 --> 01:09:12,359 with too many rules and too many fees, and so they came at the 1320 01:09:12,359 --> 01:09:17,880 industry with like, way overbearing burdensome extensive 1321 01:09:17,880 --> 01:09:20,240 red tape. It was just crazy regulations. 1322 01:09:20,640 --> 01:09:24,080 And what it ended up happening is, is that the business owners 1323 01:09:24,080 --> 01:09:28,279 or the cannabis industry at large essentially said no, we're 1324 01:09:28,279 --> 01:09:29,840 not participating in any of that. 1325 01:09:29,840 --> 01:09:32,100 Like, you get fucked. We're not going to quote UN 1326 01:09:32,100 --> 01:09:35,439 quote, as the state said, come into compliance and participate 1327 01:09:35,439 --> 01:09:38,720 in your rules and your regulatory overreach because 1328 01:09:38,720 --> 01:09:42,000 it's craziness when you're talking about farms that are 1329 01:09:42,000 --> 01:09:44,439 visible from satellite. You can go on Google Maps and 1330 01:09:44,439 --> 01:09:47,160 you can see these farms, they're they're giant greenhouses like 1331 01:09:47,160 --> 01:09:50,600 the one that I'm in here. You can see it on Google Maps. 1332 01:09:50,920 --> 01:09:54,960 And so as opposed to the state of California sending people all 1333 01:09:54,960 --> 01:09:58,280 around to the state to go punish these individuals who basically 1334 01:09:58,280 --> 01:10:00,680 said your rules are crazy and we're not going to participate, 1335 01:10:00,960 --> 01:10:03,480 they went back to the drawing board and they came back with 1336 01:10:03,480 --> 01:10:06,680 much more favorable rules. A good example of those 1337 01:10:06,680 --> 01:10:10,920 statistics in the state of California, the governor, Jerry 1338 01:10:10,920 --> 01:10:14,280 Brown at this the time wrote into effect MRSA Medical 1339 01:10:14,280 --> 01:10:17,560 Marijuana Safety Regulations Act, which put into effect the 1340 01:10:17,560 --> 01:10:20,440 basic infrastructure and regulatory framework 1341 01:10:20,800 --> 01:10:24,120 preemptively for the passing of Prop 64. 1342 01:10:24,800 --> 01:10:29,040 And that put in put pressure or it made this, the counties come 1343 01:10:29,040 --> 01:10:30,640 up with their own land use ordinance. 1344 01:10:30,640 --> 01:10:34,520 You could either approve or deny cannabis activity of any sort in 1345 01:10:34,520 --> 01:10:37,440 your county, but if you're going to approve it, you have to 1346 01:10:38,200 --> 01:10:40,840 permit it. It's kind of like if you're 1347 01:10:40,840 --> 01:10:43,120 going to put in a bar somewhere, you have to get a liquor 1348 01:10:43,120 --> 01:10:44,720 license. So the county or the 1349 01:10:44,720 --> 01:10:48,960 municipality which you operate in has to approve the setbacks. 1350 01:10:48,960 --> 01:10:51,560 This can't be too close to a, you know, a school. 1351 01:10:51,560 --> 01:10:54,760 Or. A bus stop or whatever. 1352 01:10:55,400 --> 01:10:58,800 And so Humboldt County put in their land use ordinance because 1353 01:10:58,800 --> 01:11:01,320 Humboldt County has been the Mecca of cannabis production 1354 01:11:01,320 --> 01:11:04,560 within the country indefinitely. State of California since I 1355 01:11:04,760 --> 01:11:08,440 don't know for quite some time, their rule set said essentially 1356 01:11:08,440 --> 01:11:11,360 you have a deadline. This is the end of 2015. 1357 01:11:11,360 --> 01:11:15,720 It was six months from MRSA being signed into effect, six 1358 01:11:15,720 --> 01:11:20,200 months to register your farm. At the time, the planning 1359 01:11:20,200 --> 01:11:24,920 department in Humboldt County counted 12,600 and some odd 1360 01:11:24,920 --> 01:11:28,440 farms that they determined to be of commercial scale that you 1361 01:11:28,440 --> 01:11:33,720 could see via satellite. Out of those 12,600 and some odd 1362 01:11:33,720 --> 01:11:38,440 farms, 123 people registered their farms. 1363 01:11:38,800 --> 01:11:42,720 The entire cannabis production community basically gave the 1364 01:11:42,720 --> 01:11:45,080 middle finger to the state and the regulators and said what 1365 01:11:45,080 --> 01:11:48,720 you're asking for is absolutely preposterous, It's too much, 1366 01:11:49,000 --> 01:11:51,040 it's not going to happen. And instead of the county 1367 01:11:51,040 --> 01:11:53,840 sending people around to go punish these individuals, they 1368 01:11:53,840 --> 01:11:56,400 went back to the drawing board. They extended the deadline an 1369 01:11:56,400 --> 01:11:59,840 entire year and came back with way more favorable rules. 1370 01:12:00,240 --> 01:12:03,200 And so the way that I look at what's happening with the United 1371 01:12:03,200 --> 01:12:05,800 States government or any of the governments around the world, 1372 01:12:05,800 --> 01:12:09,480 and the attempted ban on self custody or the idea that they 1373 01:12:09,480 --> 01:12:14,400 want to KYC who the miners sell the coins to is preposterous. 1374 01:12:14,800 --> 01:12:17,520 You can't see the Bitcoin. You don't even know if someone 1375 01:12:17,520 --> 01:12:19,880 has it. Like I send my coins off of 1376 01:12:19,880 --> 01:12:24,040 coin, I buy AK, I bought a bunch of it KYC, but did I send it to 1377 01:12:24,040 --> 01:12:26,800 the right address? Like I know individuals who 1378 01:12:26,800 --> 01:12:30,160 literally have lost coins. You can't even prove that they 1379 01:12:30,160 --> 01:12:33,240 have the keys. And so if the regulators in the 1380 01:12:33,240 --> 01:12:36,720 state of California couldn't force regulations down the 1381 01:12:36,720 --> 01:12:40,760 throat of brick and mortar businesses, large cannabis 1382 01:12:40,760 --> 01:12:44,000 facilities that you can see from space, how are they going to 1383 01:12:44,000 --> 01:12:46,200 force rules down the Bitcoin community? 1384 01:12:46,320 --> 01:12:48,760 They're going to bend the knee so hard, they're going to get 1385 01:12:48,840 --> 01:12:51,360 hospitalized if they're not careful, and they're going to 1386 01:12:51,360 --> 01:12:53,240 come back with much more favorable rules. 1387 01:12:53,440 --> 01:12:56,440 And just like all the Bitcoin maximalists know, at some point, 1388 01:12:56,440 --> 01:12:59,320 you know, like in the famous words of breedlove, Bitcoin is 1389 01:12:59,320 --> 01:13:03,000 going to make governments become beholden to the preferences of 1390 01:13:03,000 --> 01:13:05,800 its citizens. We have the power, you know, And 1391 01:13:05,800 --> 01:13:13,120 another thing Sailor said in What's the IT was a podcast with 1392 01:13:13,120 --> 01:13:18,720 him, Kayson Valles and American Holdel and Breedlove. 1393 01:13:18,960 --> 01:13:22,320 He says that the regulators or the governments or the the 1394 01:13:22,320 --> 01:13:25,840 ruling class, they have contempt for people who are weak, but 1395 01:13:25,840 --> 01:13:27,680 they respect people who are powerful. 1396 01:13:27,920 --> 01:13:30,880 And now we're powerful. We have F you money, we have 1397 01:13:30,880 --> 01:13:34,040 unconfiscatable, inviolable property, and they're going to 1398 01:13:34,040 --> 01:13:36,080 come correct, as they say, on the streets. 1399 01:13:36,080 --> 01:13:38,880 They are going to come with much more favorable terms. 1400 01:13:38,880 --> 01:13:41,480 They're going to try a bunch of preposterous crazy shit like 1401 01:13:41,480 --> 01:13:43,960 they did with cannabis. They're going to ask for it all, 1402 01:13:43,960 --> 01:13:46,120 and they're going to get none of it until they come with things 1403 01:13:46,120 --> 01:13:49,400 that the people agree to. And so we have leverage Now. 1404 01:13:49,400 --> 01:13:52,280 For the first time in human history, we have all the 1405 01:13:52,280 --> 01:13:54,520 leverage and it's good Bitcoin. Here's another thing. 1406 01:13:54,520 --> 01:13:57,440 Bitcoin is no threat as far as I can tell to anybody. 1407 01:13:57,440 --> 01:14:00,040 I used to think that, oh Dang, this is a threat to the central 1408 01:14:00,040 --> 01:14:02,280 banks. No, it's a solution for 1409 01:14:02,320 --> 01:14:04,720 everybody. You know, they hard forked 1410 01:14:04,720 --> 01:14:08,360 reality when they started lying and debasing the certificates 1411 01:14:08,360 --> 01:14:11,520 that they had representing the gold on on reserve. 1412 01:14:12,080 --> 01:14:15,240 And that created this feedback loop and it's like distorting, 1413 01:14:15,240 --> 01:14:17,800 bifurcating. It's destroying our culture, our 1414 01:14:17,800 --> 01:14:19,600 society, wrecking time preference. 1415 01:14:20,000 --> 01:14:23,960 And this Bitcoin, it pays you to do the opposite of that. 1416 01:14:24,360 --> 01:14:28,200 And yeah, as far as I, I, I can tell, I look at the world, it's 1417 01:14:28,200 --> 01:14:32,040 a fundamentally new world. 2009 Satoshi changed our reality. 1418 01:14:32,040 --> 01:14:33,720 We live in a fundamentally different world. 1419 01:14:33,720 --> 01:14:35,800 It's different paradigm. The incentives are different. 1420 01:14:35,800 --> 01:14:39,640 The incentive is to peace. And like it's not hard now to do 1421 01:14:39,640 --> 01:14:41,480 the right thing. You get paid to do it. 1422 01:14:41,840 --> 01:14:45,280 And so corporations, nation state plebs, Ballers, central 1423 01:14:45,280 --> 01:14:48,400 banking, bloodlines, all of everybody's coming in for 1424 01:14:48,400 --> 01:14:50,520 Bitcoin because it's the way to get the most. 1425 01:14:50,520 --> 01:14:53,680 We live in a world where it's energy in, energy out. 1426 01:14:53,680 --> 01:14:56,520 You want to exert the at least energy to get the most in 1427 01:14:56,520 --> 01:14:58,280 return. That's been the way the world 1428 01:14:58,280 --> 01:15:00,280 has worked since the beginning of time. 1429 01:15:00,600 --> 01:15:03,360 And now the way that you do that is to hoard this metaphysical, 1430 01:15:03,360 --> 01:15:06,920 invisible, finite property. As Saylor says, it's the hardest 1431 01:15:06,920 --> 01:15:09,800 substance in the known universe and it fundamentally changes 1432 01:15:09,800 --> 01:15:13,040 everything. And it's the most inspiring 1433 01:15:13,040 --> 01:15:16,280 thing ever I could do in my used to be a little bummed on the 1434 01:15:16,280 --> 01:15:18,360 world. I think everybody can can attest 1435 01:15:18,360 --> 01:15:20,560 to that now. I fundamentally think, and I 1436 01:15:20,560 --> 01:15:24,440 truly believe this to the core of my being, this is the most 1437 01:15:24,440 --> 01:15:26,960 exciting time to live in all of human history. 1438 01:15:27,240 --> 01:15:29,920 This is a big deal, and I'm absolutely enthralled and I'm 1439 01:15:29,920 --> 01:15:31,640 just really grateful to be a part of it all. 1440 01:15:32,360 --> 01:15:35,400 So yeah. Hold on, hold on, everyone's 1441 01:15:35,400 --> 01:15:42,680 requesting the sound boards. Yeah man, I really like the hard 1442 01:15:42,680 --> 01:15:44,880 forking reality meme. Like, that's a great meme. 1443 01:15:44,880 --> 01:15:46,920 And someone in the chest, like, wow, I never thought of that. 1444 01:15:46,960 --> 01:15:49,080 Fucking hijacked the shit. It's incredible. 1445 01:15:49,080 --> 01:15:50,480 Yeah, dude. OK, hold on. 1446 01:15:50,480 --> 01:15:51,840 I have so. Yeah, I know. 1447 01:15:52,240 --> 01:15:54,040 I can see Nico's actually enthralled. 1448 01:15:54,040 --> 01:15:54,800 He's like so. Many. 1449 01:15:54,800 --> 01:15:56,600 I have so many questions there. OK. 1450 01:15:56,640 --> 01:15:59,800 First of all man, that was effing inspirational. 1451 01:15:59,800 --> 01:16:02,000 I don't say that lightly. That was, that was some that was 1452 01:16:02,000 --> 01:16:05,520 some good stuff. And I just gotta say man, look 1453 01:16:05,560 --> 01:16:09,760 yes, not only did they hard fork reality the the nihilism that 1454 01:16:09,760 --> 01:16:13,040 you're describing, right, I I think a lot of the world is 1455 01:16:13,040 --> 01:16:17,040 feeling that right now this this lack of opportunity, lack of 1456 01:16:17,040 --> 01:16:21,240 hope and I think that they continue to seek a political 1457 01:16:21,240 --> 01:16:24,760 solution to it. But the reality is it's just a 1458 01:16:24,920 --> 01:16:27,640 the the solution's right, it's right, it's right in their face, 1459 01:16:27,920 --> 01:16:29,920 right. It's just to opt out, switch 1460 01:16:29,920 --> 01:16:33,240 your money, switch your, you know, your unit of account, and 1461 01:16:33,240 --> 01:16:34,760 then all of a sudden you have hope. 1462 01:16:34,760 --> 01:16:38,600 All of a sudden you're like, wow, it's like not only will I 1463 01:16:38,600 --> 01:16:42,760 be able to afford my hopes and dreams, my family's family's 1464 01:16:42,760 --> 01:16:45,800 family will be able to afford their hopes and dreams. 1465 01:16:46,040 --> 01:16:49,040 And really what's happening right now is the world is 1466 01:16:49,040 --> 01:16:54,600 getting unfucked from this SIOP that for some effing God damn 1467 01:16:54,600 --> 01:16:58,760 reason money has to lose purchasing power in order for it 1468 01:16:58,760 --> 01:17:01,080 to exist. And all of a sudden comes the 1469 01:17:01,080 --> 01:17:04,320 freight train of Bitcoin. And it's basically saying like, 1470 01:17:04,640 --> 01:17:07,680 yo like not only does it not have to lose purchasing power, 1471 01:17:07,960 --> 01:17:10,760 it actually could dramatically increase in purchasing power 1472 01:17:10,760 --> 01:17:12,720 over time. Meaning all you got to do is 1473 01:17:12,720 --> 01:17:16,120 save buddy, work on what you love, put some of the money to 1474 01:17:16,120 --> 01:17:19,240 the side, save, and all of a sudden you're going to have a 1475 01:17:19,240 --> 01:17:20,640 future. You're going to have hope for a 1476 01:17:20,640 --> 01:17:22,480 future. Doesn't matter where you are in 1477 01:17:22,480 --> 01:17:24,800 this pyramid, right? You're the lower, you know, the 1478 01:17:25,000 --> 01:17:26,800 the lower class is poverty, whatever. 1479 01:17:26,960 --> 01:17:29,960 You know, if you put a little bit to save in Bitcoin, talk to 1480 01:17:30,040 --> 01:17:34,120 me in 4-8 years, 10 years, 12 years, I bet you you're going to 1481 01:17:34,120 --> 01:17:37,360 be way better off, you know, than where where you started. 1482 01:17:37,360 --> 01:17:41,640 So yeah, I think the world is changing that operating system, 1483 01:17:41,640 --> 01:17:45,400 They're going from this nihilistic, fucking hard forked, 1484 01:17:45,400 --> 01:17:49,120 hijacked, whatever you want to call it, to Bitcoin, and all of 1485 01:17:49,120 --> 01:17:51,080 a sudden Bitcoin's giving them their time back. 1486 01:17:51,080 --> 01:17:53,520 It's giving them hope back. It's giving their opportunity 1487 01:17:53,520 --> 01:17:55,800 back, man. So you hit the nail on the head 1488 01:17:56,720 --> 01:18:00,400 and yeah man, especially with kind of like the industry that 1489 01:18:00,400 --> 01:18:03,360 you're working in kind of coming up And you know, if you if you 1490 01:18:03,360 --> 01:18:07,720 learn the the the history of of of cannabis in the US and the 1491 01:18:07,720 --> 01:18:10,720 legality of it, you know, it's a very, very interesting rabbit 1492 01:18:10,720 --> 01:18:13,760 hole to say the least. But that example that you 1493 01:18:13,760 --> 01:18:15,960 brought up. But basically, let look, the 1494 01:18:15,960 --> 01:18:19,120 government tried to step in, basically get everyone to 1495 01:18:19,200 --> 01:18:24,200 register and KYC their farms and you know, the vast majority of 1496 01:18:24,200 --> 01:18:27,520 the farmers said like, Nah dog, I'm OK, I'm good. 1497 01:18:27,520 --> 01:18:28,880 And like I don't want to deal with that. 1498 01:18:29,240 --> 01:18:35,040 Now could you imagine like on a nation, nation level instead of, 1499 01:18:35,040 --> 01:18:37,440 you know what the thing you said 1200 farms. 1500 01:18:37,680 --> 01:18:41,320 It's millions of individuals basically saying wait a second, 1501 01:18:41,720 --> 01:18:46,920 you want me to like send you my pub files and my balances and my 1502 01:18:46,920 --> 01:18:50,400 addresses? Why do I have to do that? 1503 01:18:50,720 --> 01:18:53,880 Right. And then that's gonna be a a a 1504 01:18:54,000 --> 01:18:58,360 really kind of like, not only for the politicians is that 1505 01:18:58,360 --> 01:19:01,680 gonna be a very tough pill to swallow, but also for people, 1506 01:19:01,920 --> 01:19:04,880 they're gonna feel empowered the likes of which they've never 1507 01:19:04,880 --> 01:19:07,040 felt empowered before. Right. 1508 01:19:07,160 --> 01:19:10,280 And this applies to everyone on the economic spectrum, right? 1509 01:19:10,280 --> 01:19:12,400 Which is the beautiful thing about Bitcoin, right? 1510 01:19:12,560 --> 01:19:15,240 You might not have as much Bitcoin as Sailor. 1511 01:19:15,320 --> 01:19:19,200 You might have .25, but you're going to benefit from number go 1512 01:19:19,200 --> 01:19:22,480 up just as much as he is. And if you take self custody, 1513 01:19:22,480 --> 01:19:24,400 because that's one of the things that Eric didn't say, right, 1514 01:19:24,560 --> 01:19:27,160 you're going to benefit from all this, but only if you're taking 1515 01:19:27,160 --> 01:19:29,640 Bitcoin in self custody, right? That's the that's the big 1516 01:19:29,640 --> 01:19:31,240 caveat. If you're taking Bitcoin to self 1517 01:19:31,240 --> 01:19:33,280 custody, you're going to benefit from all this tremendously. 1518 01:19:34,160 --> 01:19:35,720 But that's the beauty of Bitcoin, right? 1519 01:19:35,720 --> 01:19:37,840 Is that everyone benefits equally, right? 1520 01:19:37,840 --> 01:19:40,360 Doesn't matter whether you're Larry Fink, Michael Saylor, you 1521 01:19:40,360 --> 01:19:44,040 know, the pleb that has .1 or .25 Bitcoin built up, you're 1522 01:19:44,040 --> 01:19:45,800 going to benefit from that number go up. 1523 01:19:45,960 --> 01:19:48,960 So yeah, man, I appreciate you telling us, you know, your story 1524 01:19:49,240 --> 01:19:51,840 and that example with the cannabis farmers. 1525 01:19:51,840 --> 01:19:53,840 And I think the same thing's going to happen with self 1526 01:19:53,840 --> 01:19:55,440 custody. I think the same thing's going 1527 01:19:55,440 --> 01:19:59,560 to happen, man. Yeah, it was 123 out of 12,000 1528 01:19:59,600 --> 01:20:03,640 farmers. 12,000 to farm. They want a farm. 1529 01:20:03,640 --> 01:20:05,960 That's why they're doing it. And so they basically, they said 1530 01:20:05,960 --> 01:20:08,440 you get your your rules are preposterous. 1531 01:20:08,840 --> 01:20:12,320 You know, other thing I want to add, if I could, is this. 1532 01:20:12,320 --> 01:20:16,000 I think Bitcoin is making things better for people who don't even 1533 01:20:16,000 --> 01:20:18,360 own Bitcoin. The no coiners are benefiting 1534 01:20:18,360 --> 01:20:22,120 from the fact that I don't own, that I don't own a home, that 1535 01:20:22,120 --> 01:20:25,560 all my economic energy is stored in Bitcoin as opposed to a 1536 01:20:25,560 --> 01:20:28,480 fourplex or multiple single family homes. 1537 01:20:28,680 --> 01:20:31,240 The fact that BlackRock is stacking SAT's now instead of 1538 01:20:31,240 --> 01:20:34,440 buying more single family homes is downward price pressure on 1539 01:20:34,440 --> 01:20:36,800 housing and upward price pressure on Bitcoin. 1540 01:20:37,080 --> 01:20:40,960 And the fact that Bitcoin is this invisible property, it 1541 01:20:40,960 --> 01:20:44,560 means that as the economic energy or the the the money goes 1542 01:20:44,560 --> 01:20:49,000 into it, it's price going up. The hoarding of it doesn't hurt 1543 01:20:49,000 --> 01:20:50,760 anybody. It's like, I love what Booth 1544 01:20:50,760 --> 01:20:53,160 says, where you have abundance and money, you create scarcity 1545 01:20:53,160 --> 01:20:56,040 and goods and resources. Where you have scarcity and 1546 01:20:56,040 --> 01:20:58,280 money, you create abundance in goods and resources. 1547 01:20:58,600 --> 01:20:59,720 Yeah, I think I said that, right? 1548 01:21:01,360 --> 01:21:04,360 And that's a big deal. And I also think that the the 1549 01:21:04,360 --> 01:21:08,560 Fiat paradigm, because every time there's a liquidity crisis 1550 01:21:08,560 --> 01:21:12,240 or an insolvency within the system, they have to bail out, 1551 01:21:12,240 --> 01:21:15,280 they have to print more money. And the fact that the money is 1552 01:21:15,280 --> 01:21:18,320 getting lent into existence as debt against assets means that 1553 01:21:18,320 --> 01:21:20,560 everything in the marketplace has to go up. 1554 01:21:20,560 --> 01:21:23,560 So when there's a a crisis, you have exponentially more 1555 01:21:23,560 --> 01:21:26,680 liabilities within the system requiring exponentially more 1556 01:21:26,680 --> 01:21:29,520 money printing. And as that money gets injected 1557 01:21:29,520 --> 01:21:32,120 into the system, prices are going up on things. 1558 01:21:32,120 --> 01:21:34,520 And like Saylor says, it's a vector. 1559 01:21:34,560 --> 01:21:37,280 You can't measure the inflation because money moves into 1560 01:21:37,280 --> 01:21:39,920 different sectors in the marketplace at different rates. 1561 01:21:40,200 --> 01:21:43,000 And so I believe, and I've been thinking a lot about this over 1562 01:21:43,000 --> 01:21:46,040 the last, I don't know, year and six months and three months has 1563 01:21:46,040 --> 01:21:49,760 really become, I think it's become a thesis that I can't 1564 01:21:49,760 --> 01:21:53,080 dispute. Bitcoin is supreme collateral. 1565 01:21:53,080 --> 01:21:55,760 If I'm a financial institution, let's say I'm going to personify 1566 01:21:55,760 --> 01:21:59,640 a bank or all the banks where they have to keep with with 1567 01:21:59,640 --> 01:22:02,440 fractional reserve lending. Where you got to keep printing 1568 01:22:02,440 --> 01:22:04,640 money into existence is debt against assets. 1569 01:22:04,680 --> 01:22:09,360 I'd rather lend against Bitcoin because it's premier collateral. 1570 01:22:09,560 --> 01:22:11,800 So if I'm lending it against houses and let's say some guy 1571 01:22:11,800 --> 01:22:14,880 loses his job and he's in the middle of a remodel in his 1572 01:22:14,880 --> 01:22:17,520 kitchen for example, he has to foreclose on that. 1573 01:22:17,520 --> 01:22:20,200 The bank has to foreclose on that individual or that family. 1574 01:22:20,400 --> 01:22:24,000 And then they have to sell this house into the marketplace only 1575 01:22:24,000 --> 01:22:26,240 where there's people want to buy that house in that actual 1576 01:22:26,240 --> 01:22:28,360 location. So I live in a small town. 1577 01:22:28,360 --> 01:22:31,360 For example, let's say someone goes belly up and they can't pay 1578 01:22:31,360 --> 01:22:33,200 their mortgage. The bank forecloses. 1579 01:22:33,640 --> 01:22:36,680 Then they got to sell that 20 people. 50 people want to buy 1580 01:22:36,680 --> 01:22:39,320 that house. But if you start lending Fiat 1581 01:22:39,320 --> 01:22:42,360 dollars against Bitcoin, let's say you it's like AB lock a 1582 01:22:42,360 --> 01:22:46,680 Bitcoin equity line of credit. Then if someone goes belly up or 1583 01:22:46,680 --> 01:22:50,320 they can't pay the bills, then the banks can sell that Bitcoin 1584 01:22:50,320 --> 01:22:52,720 24/7 365 to get their money back. 1585 01:22:52,960 --> 01:22:55,760 And if the inflation, the debasement of the currency 1586 01:22:55,760 --> 01:22:59,000 starts going into the Bitcoin price and Bitcoin starts going 1587 01:22:59,000 --> 01:23:02,200 up forever, Laura, like it's going to, that doesn't hurt 1588 01:23:02,200 --> 01:23:04,200 anybody. If they keep debasing the 1589 01:23:04,200 --> 01:23:08,160 currency and housing goes up 5X in a three, five year period or 1590 01:23:08,160 --> 01:23:10,080 something like that, people are going to be fucking homeless. 1591 01:23:10,360 --> 01:23:12,480 But if they're debasing the currency and the money's going 1592 01:23:12,480 --> 01:23:14,520 into Bitcoin, that doesn't hurt anybody. 1593 01:23:14,520 --> 01:23:16,920 It actually helps everybody including the Noah corners. 1594 01:23:17,320 --> 01:23:21,440 And then and another thing that I will add to that, that I think 1595 01:23:21,440 --> 01:23:25,000 about a lot actually, and then maybe the most, I don't know, 1596 01:23:25,000 --> 01:23:28,840 like liberating concepts for me is, is there's a lot of 1597 01:23:28,840 --> 01:23:31,280 narrative within the Bitcoin community about a potential 1598 01:23:31,280 --> 01:23:34,440 61020. The, you know, the honeypot 1599 01:23:34,440 --> 01:23:37,680 black rocks got all these coins, the ET FS got all these coins. 1600 01:23:37,680 --> 01:23:39,800 They're going to fucking confiscate all the coins and 1601 01:23:39,800 --> 01:23:42,400 they're going to send everybody into a CBD and enslave a 1602 01:23:42,400 --> 01:23:44,920 humanity and we're going to reduce the population and feed 1603 01:23:44,920 --> 01:23:47,440 everybody bugs, right? Well, I get the thesis and I 1604 01:23:47,440 --> 01:23:49,960 used to have that fear when Bitcoin hit the scene. 1605 01:23:49,960 --> 01:23:53,040 I'm like, oh Dang, this is, this is a, this is a problem for like 1606 01:23:53,040 --> 01:23:55,200 the people who have been benefiting from our broken 1607 01:23:55,200 --> 01:23:57,680 paradigm. Well, so if I'm a central banker 1608 01:23:57,680 --> 01:24:00,240 or central banking bloodline or just the government or some sort 1609 01:24:00,240 --> 01:24:03,160 of financial institution, you're going to continue doing what has 1610 01:24:03,160 --> 01:24:04,960 to happen, right? Like, you got to print money, 1611 01:24:04,960 --> 01:24:06,480 You got to keep the dollar system going. 1612 01:24:06,480 --> 01:24:09,240 You can't just turn the Fiat world off and start a Bitcoin 1613 01:24:09,240 --> 01:24:10,600 standard. There has to be some sort of a 1614 01:24:10,600 --> 01:24:13,360 transition. And also, let's not forget the 1615 01:24:13,360 --> 01:24:16,240 incentive is to stack SAT's. We want to get the coins. 1616 01:24:16,880 --> 01:24:19,640 They can print money. They can print money. 1617 01:24:19,640 --> 01:24:22,560 I'll tell you right now, I'm a hardcore die hard fucking 1618 01:24:22,560 --> 01:24:25,720 maximalist and the last thing that I would really be into is 1619 01:24:25,720 --> 01:24:28,360 giving some of my Bitcoin to a bank. 1620 01:24:29,080 --> 01:24:30,840 But I'll tell you what, like I'm tired. 1621 01:24:30,840 --> 01:24:33,240 I'm 39 years old, I've been working my ass off. 1622 01:24:33,480 --> 01:24:35,920 Like I would consider. I'd have a tough time not 1623 01:24:35,920 --> 01:24:39,360 considering giving up a fraction of a coin to be able to borrow 1624 01:24:39,360 --> 01:24:41,600 some Fiat dollars. So I could go up town, take a 1625 01:24:41,600 --> 01:24:44,960 break, relax for a minute, and so if they can lend money and 1626 01:24:45,160 --> 01:24:47,760 against Bitcoin, it's an incentive for people to give 1627 01:24:47,760 --> 01:24:50,640 Bitcoin to the banks. It benefits the people. 1628 01:24:50,840 --> 01:24:53,240 The banks now are going to get to get some Bitcoin. 1629 01:24:53,640 --> 01:24:56,280 You could pay the bank back and get your coins back. 1630 01:24:56,480 --> 01:24:59,720 You can now create like this feedback loop that the 1631 01:24:59,720 --> 01:25:02,640 Contilionary effect has when you own like a real estate 1632 01:25:02,640 --> 01:25:05,240 portfolio. But it's not hurting anybody if 1633 01:25:05,240 --> 01:25:07,880 that happens. And so also I think that it's 1634 01:25:07,880 --> 01:25:10,440 going to transition us into the Bitcoin standard. 1635 01:25:10,640 --> 01:25:12,920 The governments are going to continue to go broke. 1636 01:25:12,920 --> 01:25:15,240 The more that they debase, the more that their cost of 1637 01:25:15,240 --> 01:25:17,800 operating goes up, the more that they have to debase. 1638 01:25:18,280 --> 01:25:22,120 But as they adopt A Bitcoin standard, their balance sheet, 1639 01:25:22,120 --> 01:25:25,280 their treasury reserve, starts to appreciate at such a fast 1640 01:25:25,280 --> 01:25:29,360 rate. It's it's an upward price move 1641 01:25:29,440 --> 01:25:33,800 in your balance sheet, faster on average than the deflationary 1642 01:25:33,800 --> 01:25:35,360 forces you're experiencing in the market. 1643 01:25:35,360 --> 01:25:39,360 Your loss of income is happening at a slower rate than your 1644 01:25:39,360 --> 01:25:41,160 appreciation on your balance sheet. 1645 01:25:41,640 --> 01:25:45,280 So it like fixes everything, including Fiat. 1646 01:25:45,280 --> 01:25:47,880 It makes Fiat better. And so it's going to slowly 1647 01:25:47,880 --> 01:25:50,360 bring solvency back into an insolvent world. 1648 01:25:50,360 --> 01:25:52,640 It's going to slowly bring, I mean actually I can say I think 1649 01:25:52,640 --> 01:25:55,120 it's happening at hyper rate. It's going to bring honesty back 1650 01:25:55,120 --> 01:25:57,680 into a dishonest world. It's going to bring culture into 1651 01:25:57,680 --> 01:26:01,080 a societally debased world like it. 1652 01:26:01,080 --> 01:26:03,520 As far as I can tell, the more and more I think about this, 1653 01:26:03,720 --> 01:26:07,680 it's all roads lead to Bitcoin. It's it's epically exciting. 1654 01:26:07,800 --> 01:26:10,520 I can barely believe it. Sometimes I'm like, Dang, can 1655 01:26:10,520 --> 01:26:12,720 someone pinch me? Like I feel like I might wake up 1656 01:26:12,720 --> 01:26:15,640 tomorrow back in my old nightmare of a life like this. 1657 01:26:15,680 --> 01:26:17,800 This is borderline too good to be true. 1658 01:26:18,520 --> 01:26:20,960 So yeah, that's that's a lot there. 1659 01:26:20,960 --> 01:26:22,080 I'll. I'll type. 1660 01:26:23,280 --> 01:26:25,360 They want horns in the chat, some multiple. 1661 01:26:25,360 --> 01:26:29,200 Horns. Damn bro killed it. 1662 01:26:29,240 --> 01:26:31,960 Ari killed it. Drop my, drop my that was. 1663 01:26:32,120 --> 01:26:33,800 Great. That was great, man. 1664 01:26:34,360 --> 01:26:36,480 I don't think we, I think we could wrap the show up on that. 1665 01:26:36,480 --> 01:26:37,120 That's just. Piercing. 1666 01:26:37,120 --> 01:26:40,200 They're gonna wrap it up or no, I'm gonna pull it up. 1667 01:26:40,200 --> 01:26:43,760 T Eric, if you had some last words, there we go for our 1668 01:26:43,760 --> 01:26:45,000 audience. What would they be? 1669 01:26:47,960 --> 01:26:50,400 Relax, fucking calm down, everybody. 1670 01:26:50,440 --> 01:26:54,520 Let's let's take a play out of Jeff Booth's playbook. 1671 01:26:54,760 --> 01:26:59,920 If you yell and if you focus, energy goes where energy flows, 1672 01:26:59,920 --> 01:27:02,600 where attention goes. So if you're focused at the on 1673 01:27:02,600 --> 01:27:05,320 the clown world and you're yelling at the clown world and 1674 01:27:05,320 --> 01:27:07,920 you're tweeting about how fucked it is and we all know it's 1675 01:27:07,920 --> 01:27:09,240 fucked. Like I don't live in some 1676 01:27:09,240 --> 01:27:12,120 delusional state where I'm unaware of the atrocities that 1677 01:27:12,120 --> 01:27:14,560 are taking place on planet Earth, but I don't want to 1678 01:27:14,560 --> 01:27:16,840 continue to fuel it. I'm not putting attention into 1679 01:27:16,840 --> 01:27:19,000 that. So I I would say that I'm 1680 01:27:19,000 --> 01:27:21,480 enthralled like I'm not. I'm super grateful. 1681 01:27:21,480 --> 01:27:25,160 I'm bursting at the seams with gratitude and joy and bliss As a 1682 01:27:25,160 --> 01:27:29,320 result of this discovery. Satoshi changed everything and 1683 01:27:29,320 --> 01:27:32,640 so I like the focus of the new world, the new system. 1684 01:27:32,640 --> 01:27:35,760 It's a new protocol. Jeff Booth, he's transitioned 1685 01:27:35,760 --> 01:27:39,720 his entire life, all of his energy, into the new world. 1686 01:27:39,720 --> 01:27:42,760 And if you look at a guy like Jeff Booth, this guy is pure 1687 01:27:42,760 --> 01:27:43,760 bliss. Dude. 1688 01:27:44,000 --> 01:27:47,000 He's not strengthening the old system, he's putting all his 1689 01:27:47,000 --> 01:27:50,160 energy into the new system. And so there's a divide and 1690 01:27:50,160 --> 01:27:53,200 conquer strategy by the sociopaths participating in 1691 01:27:53,200 --> 01:27:56,520 their perpetual scumbaggery. They want us all fucked up 1692 01:27:56,520 --> 01:27:58,720 against and and like at each other's throats. 1693 01:27:59,000 --> 01:28:01,600 Men versus women, this versus that. 1694 01:28:01,600 --> 01:28:03,640 Up, down, left, right, blue, red. 1695 01:28:03,800 --> 01:28:06,080 It's craziness. We don't need to worry about 1696 01:28:06,080 --> 01:28:08,840 that anymore. There is a new incentive 1697 01:28:08,840 --> 01:28:12,120 structure that's changing the fabric of our reality and it's 1698 01:28:12,280 --> 01:28:13,800 fixing. So let's focus on that. 1699 01:28:13,800 --> 01:28:15,720 Let's move into that. So if you have a problem with 1700 01:28:15,720 --> 01:28:17,760 clown world, I would suggest you stack some Sats. 1701 01:28:17,920 --> 01:28:20,800 If you're bummed about the fact that your grandparents got to 1702 01:28:20,800 --> 01:28:24,680 buy a house for three or four years or 2 1/2 years worth of 1703 01:28:24,680 --> 01:28:27,400 their annual salary, you know you make 30 grand a year. 1704 01:28:27,400 --> 01:28:30,240 The house is 90 GS. Well, now you make 50GS a year 1705 01:28:30,240 --> 01:28:31,880 in the house that you want 500 grand. 1706 01:28:32,080 --> 01:28:33,680 We'll start thinking about Bitcoin. 1707 01:28:33,680 --> 01:28:35,960 Focus on Bitcoin. Measure the things that you want 1708 01:28:35,960 --> 01:28:38,000 in Bitcoin. Your house is going. 1709 01:28:38,160 --> 01:28:40,120 The house that you want in the future is going down if you 1710 01:28:40,120 --> 01:28:43,680 denominate its value in Bitcoin. Everything is getting less 1711 01:28:43,680 --> 01:28:46,640 expensive if you denominate its value in Bitcoin. 1712 01:28:47,000 --> 01:28:49,600 Houses aren't going up in value, they're going down in value, 1713 01:28:49,600 --> 01:28:52,000 like cars. Like why is it a 50 year old 1714 01:28:52,000 --> 01:28:54,560 house that's like shitty and needs new floors, that's got 1715 01:28:54,560 --> 01:28:58,160 asbestos ceilings and the roof is leaking cost 10X what it did 1716 01:28:58,160 --> 01:29:00,200 50 years ago? Because we're measuring the 1717 01:29:00,200 --> 01:29:02,840 value of the house and A and A and a moving unit. 1718 01:29:03,080 --> 01:29:05,480 You can't solve for that. Bitcoin solves for that. 1719 01:29:05,480 --> 01:29:09,320 It's a fixed unit in a in a world that is full of nothing 1720 01:29:09,320 --> 01:29:13,640 but variables. Everything is in flux except for 1721 01:29:13,640 --> 01:29:15,280 Bitcoin. Measure what you want in 1722 01:29:15,280 --> 01:29:16,600 Bitcoin. Focus on Bitcoin. 1723 01:29:16,640 --> 01:29:19,120 Pay attention to Bitcoin. Put on your orange glasses. 1724 01:29:19,120 --> 01:29:20,920 It's a bright motherfucking orange future. 1725 01:29:21,080 --> 01:29:22,680 We have so much to be excited for. 1726 01:29:22,680 --> 01:29:24,720 Let's stop strengthening the old world. 1727 01:29:24,880 --> 01:29:26,880 Let's be excited about the new It's here. 1728 01:29:27,000 --> 01:29:29,280 It's not even like, yo, oh, it's going to make things better. 1729 01:29:29,400 --> 01:29:31,800 It's making it better. It is better. 1730 01:29:31,800 --> 01:29:35,200 It's happening in front of our faces and it's something to be 1731 01:29:35,200 --> 01:29:39,840 super grateful for. Yeah, it's it's done. 1732 01:29:40,000 --> 01:29:41,360 We won. It's here. 1733 01:29:41,440 --> 01:29:45,440 It's not going away. Bars. 1734 01:29:45,440 --> 01:29:48,920 Absolute bars. It's ultimate field for a 1735 01:29:48,920 --> 01:29:51,360 reason. And Eric just killed the red. 1736 01:29:51,400 --> 01:29:54,520 He bro, your nihilist feels compared to what air is stopping 1737 01:29:54,720 --> 01:29:57,400 though. Jeez, Eric's got to come back on 1738 01:29:57,400 --> 01:29:59,280 the shelf. Man, I really, really enjoyed 1739 01:29:59,280 --> 01:30:01,200 it. Dropping the fire, dropping the 1740 01:30:01,200 --> 01:30:03,840 life experience and kind of tying back in. 1741 01:30:04,120 --> 01:30:07,800 And yes, if we are heading into, we are in a bright orange 1742 01:30:07,800 --> 01:30:09,520 future. We are in the Bitcoin future, 1743 01:30:09,520 --> 01:30:13,640 but only if you're denominating your wealth in Bitcoin, only if 1744 01:30:13,640 --> 01:30:16,000 you're on a Bitcoin standard, and most importantly only if 1745 01:30:16,000 --> 01:30:19,840 you're taking self custody of that sweet, sweet Bitcoin that 1746 01:30:19,840 --> 01:30:21,320 you have earned through your proof of work. 1747 01:30:21,760 --> 01:30:24,040 You know that's how you start to benefit from this thing and you 1748 01:30:24,040 --> 01:30:26,640 feel it. You feel that optimism, that 1749 01:30:26,640 --> 01:30:29,280 optimism of living on a Bitcoin standard? 1750 01:30:29,600 --> 01:30:33,160 Anyways guys, that was Monday, March 11th episode. 1751 01:30:33,320 --> 01:30:35,840 Wait, Niko, Let Bitcoin live? Let Eric plug? 1752 01:30:35,840 --> 01:30:38,280 Where can people find you all that good stuff? 1753 01:30:38,840 --> 01:30:41,320 Yeah. So if you resonate with anything 1754 01:30:41,360 --> 01:30:45,840 that I have had to say or my sheer optimism, which is 1755 01:30:45,840 --> 01:30:48,640 genuine, this isn't a lie, like this is real as fuck. 1756 01:30:49,400 --> 01:30:51,880 I make rants on Twitter. I start the camera. 1757 01:30:51,880 --> 01:30:55,720 I go for 5 to 25 minutes just shredding on what I believe to 1758 01:30:55,720 --> 01:30:59,320 be taking place in the world. My Twitter's Eric V stacks. 1759 01:30:59,920 --> 01:31:03,200 I don't know, I probably got like 50 to 70 videos there. 1760 01:31:03,200 --> 01:31:06,440 And yeah, I'm going to El Salvador for the having party. 1761 01:31:06,440 --> 01:31:08,520 Shout out to the having party guys. 1762 01:31:08,520 --> 01:31:09,920 They've. I can't even believe what they 1763 01:31:09,920 --> 01:31:13,360 have put together. I'll be in Bitcoin or in 1764 01:31:13,360 --> 01:31:17,080 Tennessee. Nashville looks like I might be 1765 01:31:17,080 --> 01:31:20,320 in Prague and Oslo Freedom Forum. 1766 01:31:20,320 --> 01:31:24,000 I'm going to do some travelling. I mean, I'm all in on Bitcoin. 1767 01:31:24,000 --> 01:31:25,600 I want to focus on the Bitcoin world. 1768 01:31:25,600 --> 01:31:28,400 I want to participate in the peaceful Bitcoin revolution. 1769 01:31:29,120 --> 01:31:32,480 And so follow me on Twitter. Eric V Stacks. 1770 01:31:33,080 --> 01:31:33,840 Amen. Amen. 1771 01:31:34,280 --> 01:31:36,360 Let's go. You guys want some more of 1772 01:31:36,360 --> 01:31:39,120 Eric's epic, epic rants? Go check him out on Twitter. 1773 01:31:39,120 --> 01:31:41,760 Eric V stacks. And he'll and he'll be at a lot 1774 01:31:41,760 --> 01:31:44,440 of Bitcoin conferences that simply will be at too as well. 1775 01:31:44,680 --> 01:31:46,680 So I'm sure we'll cross paths again. 1776 01:31:47,000 --> 01:31:48,880 Anyways, guys, if you enjoyed the episode, you know what to 1777 01:31:48,880 --> 01:31:49,960 do. Smash that like but and consider 1778 01:31:49,960 --> 01:31:53,040 subscribing if you feel like we provided you value, but then one 1779 01:31:53,040 --> 01:31:55,480 thing you could do to help push the peaceful Bitcoin revolution 1780 01:31:55,720 --> 01:31:58,000 is share Bitcoin content. That includes simply Bitcoin. 1781 01:31:58,000 --> 01:32:01,400 That includes Eric's content. That's how we have to take over 1782 01:32:01,400 --> 01:32:03,280 the culture. The way that we do it is, is 1783 01:32:03,560 --> 01:32:06,840 sharing Bitcoin art, Sharing Bitcoin music, Sharing Bitcoin. 1784 01:32:06,840 --> 01:32:10,240 Just just share the message. Spread the peace and love man, 1785 01:32:10,360 --> 01:32:13,320 we've already won. Calm down, calm down. 1786 01:32:13,560 --> 01:32:15,920 Like Eric was just saying. Anyways guys, we'll be back 1787 01:32:15,920 --> 01:32:20,440 tomorrow for a brand new episode of Simply Bitcoin Live. 1788 01:32:20,440 --> 01:32:22,560 Until then, love you all. Peace out, everybody. 1789 01:32:25,320 --> 01:32:29,000 Episode was brought to you by bitcoinwell.com, a Bitcoin only 1790 01:32:29,000 --> 01:32:32,200 platform on a mission to enable financial independence.