It's. All going to zero against
Bitcoin. It's going on forever.
You're against Bitcoin. You're against freedom.
Yeah. Welcome to another episode of
Simply Bitcoin Live or number one source for the peaceful
Bitcoin revolution. Recovering Use Culture Medic
Warfare will be your guide through the separation of money
in state. Ladies and gentlemen, welcome to
the most watched Bitcoin Daily live show on YouTube.
Rumble and X welcome to Simply Bitcoin.
Pretty crazy we broke all time highs.
That's right. That means it's so she, the
Bitcoin chicken gets to cluck like he clucks for any new
members of Simply Bitcoin. Back in the Simply Bitcoin OG
days, in the, you know, in the the last bull market where
simply Bitcoin was born, we would have this rubber chicken
and he would cluck every time the price of Bitcoin makes all
time highs. And that's exactly what
happened. We're sitting pretty at
$72,372.00. But I mean things are just
getting started. We had this viral clip of Larry
Fink, the man that said that Bitcoin is nothing more than,
you know, an index of money laundering, the CEO and Chairman
of the world's Lasset, largest asset manager.
And of course, I'm talking about BlackRock going on CNNBC and
talking the Bitcoin ethos. Talking, you know, the the
benefits of Bitcoin. You would have never have
thought of that. And all of this morning we've
been, we've been, by the way, you guys should follow simply
Bitcoin's Twitter account. We're posting all this breaking
news, CNNBC, the legacy financial media.
It's almost as if they turned into a Bitcoin channel because
you had, you know, the current Republican nominee for
president, Donald Trump, talking about Bitcoin.
You had Michael Saylor talking about Bitcoin.
You know, you had Larry Fink talking about Bitcoin earlier on
this week. So yeah, I mean, obviously
you're going to talk about it when this thing's sitting pretty
at $72,372. And more importantly, Michael
Saylor's strategy is working and it's not only the legacy, you
know, TV media that's kind of changing tune.
We had, I would say, a historic article coming out of the
Financial Times, Financial Times, you know, that's that's
legacy Fiat media basically admitting that, you know, the
Bitcoin bulls might not necessarily be the fools in the
room, right. So we're literally gonna read
you that article cause in a way it's a form of vindication,
right? Because we've been made fun of,
we've been called psychopaths, we've been called crazy.
You know, I'm sure not only by friends and family, but by the
legacy establishment, right? Legacy establishment, you know,
the the media and and the government and all these
establishment players, they've been calling us kooks, they've
been calling us crazy. And you know, when Bitcoin makes
an all time high, it once again proves that this thing isn't a
bubble, that this thing is truly going up forever.
We're in uncharted territory. Never in Bitcoins history has
Bitcoin made an all time high before the halving and never in
bitcoins history did Bitcoins all time low break bitcoins
previous all time high. So I No one knows where this is
going. Absolutely no one.
You're tuning into whatever content you're consuming.
No one has no clue where this is going.
The only thing that you guys should know and should be on the
top of mind, right, is that Michael Saylor keeps buying
Bitcoin. BlackRock keeps buying Bitcoin
at a record pace and around the corner, literally next month,
exactly like a month from now, the halving is coming and once
again, the amount of Bitcoin being sold.
The the the natural seller of Bitcoin on a daily basis is
going to get cut in half from 900 Bitcoin to 450 Bitcoin, but
the demand is going to stay exactly the same.
What do you think is going to happen to price, right?
So this is very, very exciting times.
And of course we are simply Bitcoin.
So we're going to lay out all the data for you guys and
everything. But before we jump into the
show, I want to bring up my legendary Co host.
Always optimistic, I caught him on a smile to smile today.
What shirt is that, Bro. Conservative, Progressive,
Libertarian, Bitcoiner. I love that.
Damn.
Shout out to Well really, This was Russell Okong shirt.
He made it like two years ago or something, but he his store went
down. So then the free market did its
thing and a few people printed it up after I put it on Twitter
last week. And so I got this at
orangelabel.co. Go get it for yourself guys.
And I think this is a lit shirt. This is exactly our sentiment
here at Simply Bitcoin. And man, what a what a crazy
morning. First of all, my energy is a
little low today. I guess there was like a time
change and I lost an hour and I wasn't.
Aware of Is that what it is? Is we lost that it?
Is I feel like. I feel like I've not hyped.
Bitcoin Does Bitcoin Fix This? Yeah, daylight savings times or
time changes are a Fiat scam. I don't know why we do this, but
yeah, I I apparently I lost an hour of sleep.
I'm still not fully jacked up. I I drank a lot of coffee and
everything this morning and I'm just like I was talking with the
Twitter team right now. I'm like, man, what's going on?
I'm feel tired today I thought it was just the Mondays, but now
apparently we lost an hour. Anyways.
Anyways, enough of my. Woes here.
They're stealing our money. They're stealing our time.
Just oh man. Yeah.
Anyways, anyways, also you know we woke up to 72 K this morning.
Let's go like hello, we're in price discovery mode.
This is awesome. I got a few family texts, you
know, everyone's excited and and and it really feels like FOMO or
the retail FOMO hasn't even kicked in yet and like we're at
all time highs and no one's even talking about it.
It's like, all right man. I guess, I guess this year.
Is going to be a crazy crazy year, you know, if we do the
math. Also like him back might be
right. You know, we might get 100K by
having. Dead.
Have you seen how hyped Vikingo is, bro?
He's posting 3D. Like, yeah, he's like, I've
never, he's not staying humble like AI, like I'm like dude
every time, which is absolutely hilarious.
Anyways. Anyways, we do have a
recommendation from the audience, which is simply
Bitcoin should just refuse to switch to daylight saving.
It's funny that you say that because when I scheduled the
show, I was like, wait, why is this thing set at like 1:15 PM?
Like what? What's going on?
So I think we tried to do it not on purpose.
But anyways, I did get a GET. I did get a bit confused because
I was like, dude, I set this at 12:15, but you know, they stole
an hour from us the racket. Anyways, we do have a guest.
We do have a guest, Eric. We just saw each other in
Portugal and Maida in the flesh, in person, and I was like, dude,
you should come on the show. He's like, bro, I'm scheduled to
come on the show. And I was like, oh crap, this is
going to be epic. This is going to be awesome.
So how you doing, Eric? Welcome to Simply Bitcoin.
Yeah, thanks for having me, guys.
I'm fucking pumped. Dude.
This is an honor to be on the show.
I've been watching you guys since the beginning, yeah.
And it's a all time highs, man. So I'm here at the farm in honor
of the all time highs and the potential for a having on 4/20.
So. Let's go.
Life is memes and memes is life. Let's do this.
By the way, if you know if YouTube, anyone that is a legal
that is a legal farm all you know license farm, you know all
the boxes being checked in case anyone is wondering.
But what are we gonna talk about during the culture 'cause you
you gave us a little bit of you know a little bit you you teased
this a little bit in the in the before we went on air.
So Opti, Eric, what do you guys have in mind?
Yeah, yeah, so of course guys, our guests, I know how you guys
love the Bitcoin origin stories. So we're gonna, we're gonna
obviously touch on Bitcoin origin stories and Eric's been
posting some great clips on on Twitter, so we're gonna talk
about Bitcoin, you know, enabling the deflationary world.
He also kind of hit us on regulations and whether and why
he's not concerned about Bitcoin regulations considering what
industry he works at, as you can tell from the background.
And maybe we'll jump into, UH, obviously don't trade any shit
coins. So I think we got a good, I
think we're gonna have a good rip today, guys.
And man, it's Monday. Here we go.
It's Monday. Here we go ladies and gentlemen.
We already have 600 live viewers between YouTube and X and
another 70 or 60 or change on rumble.
So if you guys are enjoying the show, really helps.
If you smash that like button takes literally a second of your
time. Just smash.
It really helps with the algos and comment if you guys are
enjoying the show so far. But before we jump into the
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your Bitcoin anyways. At the time of recording this is
going to feel really nice to say this.
This is the the highest it's ever been when we've recorded a
simply Bitcoin show. The current Bitcoin price is
72,400 and $70.00. That feels really good.
Okay sats per dollar want the opti.
How many days, How many years have we been crawling in the
bear market trenches, bro Holy. Cow man, man.
Too long, man. Man, Okay, Woof.
All right, Stats Per dollar 1381 Block height 834,239 blocks to
having 5761 Having estimate April 19, 2024.
Total lighting network capacity 4352.
Bitcoin capacity value 315 million, U.S. dollars, Realized
monetary inflation 1.74%. The market capitalization of
Bitcoin 1.42 trillion and Bitcoin verse gold market cap
10.31%. Anyways, when number go up does
its thing. It tends to humble people,
right? I I've seen, you know I've seen
this tweet. It is not.
I'm not going to take credit for it because I didn't come up with
it, but someone said that Bitcoin functions as not an IQ
test but as a humility test. And I think that is so on point.
Everyone gets Bitcoin at the price they deserve.
And if you are, you know, someone who benefits from the
Fiat system and you don't have those same benefits in the
Bitcoin system, you're gonna eat some, a little bit of humble
pie, right? And that's what I gotta say
about that. And the reason I'm bringing this
up is because, you know, not only was Sailor detractor of
Bitcoin, how crazy is that to say these days, Like, you know,
the guy who like, continues to, you know, leverage his company
in order to, you know, buy more Bitcoin, Right.
Sailor going absolutely bananas doing whatever it takes, you
know, to get 1% of the Bitcoin supply.
He had a very famous tweet, which is still up, by the way.
He did not delete it or he basically said this Bitcoin
thing, like, I don't think it's gonna work.
And that was back in circa 2015, right?
Well, 2017, right. And you know, Opti and I, this
is our era. This is, we were around this
time. Back in the day, BlackRock CEO
Larry Fink called Bitcoin, quote, an index of money
laundering. Right now BlackRock and Michael
Saylor, which is the reason that I named the video the the title
of this video, the title of this video, Michael Saylor's Micro
Strategy and BlackRock are neck and neck.
In fact BlackRock was about to overtake Micro Strategy's stack
and then over the weekend or Monday better said, Michael
Saylor announced that you know through their through their
mechanism, which we're gonna go into detail today, you know
they're still able to lead the pack.
I don't know for how long, but you know, I found that really
interesting. Anyways, so this was again a
historic moment, October 13th, 2017.
BlackRock CEO Larry Fink calls Bitcoin an index of money
laundering. So if you've been around since
2017, if you're of that class, let let this video that I'm
about to play be vindication to you.
Let the price at 72,569 be a vindication to you, right.
All the BS that you probably put up with holding Bitcoin,
believing in Bitcoin, you know, and because again, holding
Bitcoin on paper sounds easy, holding Bitcoin in practice is
extremely difficult. It is, it is psychological AF
and Bitcoin, what it takes from you is time, right?
That's really the price that you pay is, is time, right?
So this is your vindication. This is what this is what you've
been waiting for. And ladies and gentlemen, I'm
telling you right now, we are just getting started.
The halving is around the corner, right?
You know, the the you. Bitcoin tends to moon about 8:50
months after the halving. I know we're in an uncharted
territory, but boy oh boy, if it follows that pattern, things are
going to get crazy. And I think that the reason that
we're uncharted territory is I think Bitcoin is making up for
lost time of the uneventful last cycle, right?
It was just, you know, it was a giant tease to be frank.
And I think another thing, and I think this is what makes it so
different, and you know, we had Fred Krueger on, on Wednesdays
on last Wednesday, simply Bitcoin IRL.
What makes this time different are the ETFs and the amount of
institutional interest that is just going in.
And remember guys, unlike gold, right, which is, you know, we
would all say, OK, gold, you know, it's very scarce.
It's a finite resource. Etcetera, etcetera, etcetera.
But is it though? Is it though?
Look, if the price of Bitcoin goes up, the gold production
goes up along with it. If the price of Bitcoin goes up,
the Bitcoin production stays the same.
Not only does it stay the same, it actually gets cut in half
every four years, right? That is absolute scarcity.
The world has never seen that before.
And if you want to know why Bitcoin was the best performing
asset of the last 10-15 years, that is why.
And what you're seeing right now, this epic clash.
The reason that Bitcoin is an all time highs before the
halving is because Wall Street is starting to get a taste of
this, right. And again, don't take my word
for it, take let's hear what Larry Fink has to say and again
I preface this with you. Don't change Bitcoin.
Bitcoin changes you. That there's a lot of merit to
it. There's a lot of opportunity.
It is a great store and this where you can debate is it a
good store? Do you know how it's made a
bunch of computers figure out but.
There's only but the issue is if there if people believe that it
can be a an asset that can be cross-border.
And let's be clear. If you're in a country where
you're fearful of your government, and maybe this is
one of the reasons why China has banned it.
If you're in a government where you're If you're in a country
where you're fearful of your future, fearful of your
government, or you're frightened that your government is
devaluing its currency by too much deficits.
Like us? I'm not going to go there.
The little elephant. You could say this is a great
potential long term store of value and it as I said it's like
digital gold and I and I believe.
But you still can't buy a slice of pizza with it.
Isn't that kind of odd that? Work, but you can't buy a price
of pizza with Palladium or or gold.
No, but then you can do stuff with them.
I can get stuff. I mean, people use gold for for
stuff, right? But.
People you could. Buy and sell your Bitcoin.
No different than gold. So it is very.
But gold is put in like. Jewelry.
Jewelry and and and you know iPhones I think there's there's
in some electronics there's. More More silver and silver.
But you see what I'm saying It's there are practical uses.
Bitcoin. It's literally a Ledger.
It is a Ledger and but it's a international Ledger.
It's cross-border it it's it's bigger than any government.
I see. I agree with.
You, so I mean like you know again that that's Bitcoin's
incentives playing out in real time, right?
Like, if you guys noticed the tickers in the back, right, it
had MicroStrategy stock in there and it was at $454.
You know what MicroStrategy stock is right now?
I think it's like a $1400, right?
Just to kind of give you an idea.
But again, the fact that, you know, Larry Fink is literally
talking about, yeah, you want to get Bitcoin if you live in a
totalitarian country, you know, this is a store of value.
Do you think that he would be saying that just for ideological
reasons? Do you think he'd be saying
that, you know, just because you know it makes them happy?
No, he's saying that because he sees an opportunity.
But the beautiful thing about Bitcoin, unlike Fiat, is that
Bitcoin has aligned, has an aligned incentive.
Structured meaning everyone benefits from Bitcoin equally,
right? Versus in the Fiat system, you
get the You get the Contillionaire class right?
And the Contillionaire class play by a whole different set of
rules than everyone else, right? Here's Safidine.
This is a great tweet. I want to end up with this
before I pass it on to our panel.
Opti and our guest today. But here's safe.
And he says life is not supposed to have such easy shortcuts.
But this only seems spectacularly easy because we've
spent a century using money that's optimized for government
criminals to rob you, and getting gas lit into believing
life just has to get more expensive and saving is futile.
You must keep working harder forever and become a part time
hedge fund manager just to keep your keep the wealth you've
already earned from work. If it wasn't for Fiat larcenary,
everything would be would be always getting cheaper and
saving would be an efficient way to provide for your future.
It isn't that Bitcoin is too good to be true.
It's just that it kills Fiat parasitism.
And that is the world's biggest problem, right?
So you could have made the argument not too long ago that
one of those, you know, quote UN quote, biggest benefactors from
Fiat parentism was people like Larry Fink, right.
And you have one of the biggest Fiat contillionaires, to be
frank, one of the people that was speaking the most at the
Contillionaire conference or the World Economic Forum, whatever
you want to that forum that they throw in Davos every single
year. You know, now you have him
absolutely talking the Bitcoin talk, talking about savings,
talking about this being an alternative, talking this about
protecting you from, you know, completely irresponsible
government spending. And he, he even insinuated that
that was the US and the host was like, no.
And he was like, ha ha, no, I'm not talking about the US But of
course he was talking about the US itself.
And of course, this goes back to my original point of the tweet.
You don't change Bitcoin. Bitcoin changes you.
That could be Michael Saylor, that could be Larry Fink, that
could be the president of the country.
That could be a very wealthy oil chic.
But eventually, everyone bows down to bitcoins, incentives.
The only question that you have to answer is at what price?
You know, are you gonna have to pay, right?
Are you gonna be able to humble yourself quicker or you're going
to have to pay a higher price later?
That's the only question that's really on the table.
So how long, you know, could these wealth managers and how
how long could these public, you know, these CEOs of these public
Fortune 500 companies, how long could they be looking at Michael
Saylor's strategy and just be like, Nah, you know what?
This guy's a kook. This guy's crazy.
I mean, look, I I just got to say and I'll play you guys the
video. During the news segment, Michael
Saylor wore a Bitcoin logo today, all right?
And he hasn't done that before. You know, the next step is him
growing a beard. I guess that's just going to
happen naturally. Anyways, I do want to get Eric's
thoughts on this and then we move on to Opti.
Yeah, I mean, this is a a big deal.
I think it's just the capitulation.
These guys are getting sucked into the vortex of incentives.
You know, black rockets. And it's a bad reputation just
because of the simple fact, at least in my humble opinion,
these individuals have done everything that they can do to
get the most. And pre Bitcoin that was to buy
real estate, it was to leverage your size, it was to to to
participate in that contilion air feedback loop, right.
And so obviously the Fiat forces are unethical and they're
bifurcating our society. But I think the thing that's so
beautiful about Bitcoin is, is it's good for everybody.
The incentives are with for what's best for the individual
is now what's best for the collective as well.
And so the path of least resistance to get the most is to
stack SAT's. It's this invisible ethical
monetary instrument and the fact that people want to hoard it is
good for everybody. BlackRock was buying all these
single family homes in America and that's contributing to
homelessness. And so, I mean, I think it's a
super fantastic thing. You know, there's a lot of
people that are a bit bummed. There's a little bit of rhetoric
and dialogue in the world around how all black rocks going to
come in and corrupt Bitcoin. It's incorruptible.
You know, it's like Jeff Booth and George Gammon.
I listen to their debate the whole time.
Jeff Booth is like, hey George, how are they going to corrupt
it? He's like, oh, well, they're
going to debase the currency further.
They can. Only you can.
You can't corrupt Bitcoin. You can only further corrupt
yourself for a later layer on top of it.
And so I just think it's a fantastic thing.
BlackRock is starting to do the ethical thing and what's so
beautiful about it is they don't have to make some enormous
sacrifice and and like you know avoid, you know, a hard come up
these people get the stack sats and how that's that's how
they're going to make the most money.
So 100% and and and and I love you hit the nail on the head,
right. It's not that BlackRock changed.
It's at the end that the incent, the game that they're playing
has changed. And one game, the incentive
structure is set up where you benefit from fucking other
people over right versus the bit so funny versus the Bitcoin
incentive structure, it's aligned right.
So these miners and people that are running nodes and you know,
even content creators, right, like yes, we love Bitcoin.
Yes, we're mining Bitcoin. Yes, you know, we're running a a
copy, you know, our own copy of the Bitcoin software and you
could say oh you know, they're doing it for altruistic reasons.
And you could say, I bet you these these effing miners are
not mining for altruistic reasons, they're doing it out of
the pursuit of profit. But the beautiful thing about
Bitcoin is them by pursuing that profit, they're actually making
the network stronger, right. And everyone benefits.
And this is what we mean by bitcoins aligned incentive
structure system. So it's not that Larry Fink all
of a sudden found Jesus or found Satoshi is like, I want to be a
good person now it's that he's just finding a system that, oh
wow, like, yeah, we're just going to pursue this.
But unlike the Fiat system that fucks everyone out, right, a few
win, everyone else gets fucked over, then Bitcoin, everyone
wins, right? So that's what you're seeing
here. And then it all goes back down
to that very, very simple phrase.
You don't change Bitcoin. Bitcoin changes you.
Opti that date, October 31st, 2017, when Larry Fink said, you
know, Bitcoin is nothing more than the index of money
laundering. Boy oh boy, how far have we come
my friend? That was that was your first
year, wasn't it? That was 20.
Seven, literally. I think I I that predates me by
like about a month. I I'm pretty sure I got in
roughly a month after that clip, but it's very incredible just
seeing how far the Bitcoin narratives have changed in what,
7 years maybe? Yeah, about seven years.
And it it's also incredible that you know the, I don't know who
the Co host was or the the host there.
But it's funny how we're still dealing with the same narrative
flood lines that we've been dealing with forever that big
corners have thoroughly destroyed for a long, long time.
Anyways, on the clip actually one thing before I go to that
Niko, you said something about huddling is hard like it's it's
it's hard to huddle. And while I totally agree, I
think there's like a psychological point that like
once you understand why, and this is my PIN tweet, I've had
this on my Twitter for a while. It's like once you know why you
huddle, the huddling becomes easier.
And here's some things you need to learn to understand why
you're holding Bitcoin. But after a certain point, it
becomes so much easier because I just save in Bitcoin, I just
hold my Bitcoin and and someone else said in the chat of like, I
wasn't able to save money before Bitcoin.
And I was the same way. I could barely hold like $300.00
without it burning a hole in my pocket.
And after becoming a Bitcoiner and literally the me, my Bitcoin
changes you. You don't change Bitcoin.
I was actually able to, you know, accumulate a savings.
And it's because Bitcoin is just the greatest savings vehicle.
So it's pretty interesting to see Fink, and I'm going to put
it in quotation marks, you know, become a Bitcoiner.
I'm not sure if I'm hyped on this or just.
Absolutely terrified about it. You know, like, it's the money.
It's the money of enemies. I know I was just about to say
this. I was just about to say the same
thing. So it's like it's one of these
things where like, look, BlackRock is the biggest asset
manager in the world. They see the value, or at least
they understand that publicly or politically, it's safe to
embrace Bitcoin. And of course he's talking his
bags. Of course, we all know that.
But it's becoming a new paradigm, and I've been saying
this for a while, that Bitcoin has crossed the Rubicon into
public consciousness and now you're not going to lose your
job for being a Bitcoin. You're not going to, especially
as an investment manager. You're not going to lose clout
amongst your peers if you're embracing Bitcoin.
When the ETFs has basically had the best launch of any ETF ever,
and now bitcoins at in price discovery mode, we're in 70 K
This next year is going to be absolutely crazy.
And you know where where? Someone said in the chat, which
is funny, like ESG, Fink says. Like we're going to force
behaviors. Bitcoin Fink is like we can't
force behaviors like. Again, like, no better than
they're they're like American Point.
Yeah. And then on that point, like I
said this last week, Nico, and you're like, no, we didn't.
You know, we're seeing that BlackRock the pendulum, I think
Fink and BlackRock and all the asset managers in the world,
they're seeing the pendulum swing.
And I saw a tweet this morning or maybe it was yesterday about
just like how bad all Blackrock's ESG investments are
going and how they're defunding out of those ESG investments.
And it's very interesting now that they're just going like
full head dive into Bitcoin, because we know Bitcoin is not
not only the most economic investment, but it is the
environmental investment in the world.
Like Bitcoin mining incentivizes the use of good energy.
And we're seeing right now that like there's been a lot of bad
investments in quote UN quote green energy.
And the fact that we're seeing these big asset managers, the
biggest asset managers in the world start to embrace Bitcoin,
that's going to not only be good for like the price but also for
the world at large. And you know Bitcoin is the best
store value period. Even fee gets it.
And and one more last actually two more things.
I love how the the the host says like oh you can't buy anything
with Bitcoin and Fink's like yeah it's a it's a store of
value. You can't buy anything with
Palladium, like you can't ship gold off and go buy pizzas with
that And yet people still think gold is money.
And then the last thing is I just love how the the host
commented about the the dollar losing value and he's like I'm
not going to touch that. You know, he's like touching
that at all. And we all know that's what he
was talking about. Like everyone knows, what's the
conversation happening right now?
But man. It feels so good being right.
It's vindication.
I mean, and again, we're going to get to the Financial Times
article during the news segment and literally it literally
starts it off with like this is a vindication for the hodler.
Anyways guys, I do want to remind you guys, right now
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no more delay. Let's get to the news.
We have a lot to talk about. Let's check it out.
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description or the QR code that was just put up on screen.
Anyways, quick ETF update. I'm telling you.
Look, you could say. You could say Rico, that's an
effing coincidence. But I love the quote.
I forget who it's by. There are no conspiracies, but
there are also no coincidences. Or there's no coincidences, but
there's also no conspiracies. I love that quote.
I think it's very applicable here.
OK, So what am I talking about, right?
You know, I feel like I'm the meme of the guy, like with the
with the with the board and the crazy eyes like putting stuff
together. OK, So what am I talking about?
This is what I'm talking about South over the weekend.
What was about to happen? Was that the Black Rock ETF was
about to overtake a Michael Saylor's micro strategy's
Bitcoin position. Before Monday's announcement,
Michael Saylor's position was at 195,000 Bitcoin and BlackRock
was on track to overtake it this Monday, right?
But what happened was Saylor made a Monday morning
announcement and all of a sudden micro strategies in the clear by
another 10,000 Bitcoin. You could say Nico, that's pure
coincidence. That's just.
I don't know, man. Look like.
I don't know. I don't know.
I don't. I I I would like to believe that
Michael Saylor's like, you know what I want to stay ahead of the
pack. I know you can make you can make
the argument one's an asset manager, one's a publicly traded
company and each other two totally different things.
I would like to believe that there was some semblance of
like, you know, I'm still the big dog here.
But anyways, maybe I'm totally wrong, but that's.
I would like to believe that. Anyways, so what's the big deal?
Michael Saylor is came up with this very fascinating strategy
where he's leveraging his company to get more Fiat in
order to buy more Bitcoin, and the Fiat loans that he's getting
are at ridiculous rates, right? Meaning that the bet really is,
is Bitcoin going to outpace that interest rate?
And the interest rates he has is so ludicrously low that it's
like, it's so obvious, right? And then that leads me to the
other inevitable conclusion that you get to, which is like how
long until other companies see this And they're like, holy cow,
I think, I think this is a viable strategy, maybe not going
so intensely, maybe not going so aggressively, but at still at
least having some type of exposure.
So he goes on to say MicroStrategy has acquired an
additional 12,000 Bitcoin for $821 million using proceeds from
convertible notes and excess cash for $68,477 per coin.
As of March 10th, MicroStrategy holds 205,000 Bitcoin acquired
for 6.91 billion, an average price of 33,706 per coin.
Now here's the thing. He's 5000 coins away from owning
1% of every coin in existence or that that will ever exist in in
Bitcoin, right? And what's really interesting is
that, again, BlackRock is almost at that 1% number too.
And Fidelity's almost at that. You know, relatively almost at
that 1% number, right? It's a pretty interesting times,
pretty crazy time. But I don't know about you guys.
I ain't selling my Bitcoin to BlackRock, are you?
Anyways, So he seems to be doing this strategy over and over
again. We hear this announcement every
once in a while. We reported it on it yesterday.
Here's the Bitcoin therapist and I think he lays it out the best.
He said. Sailor found the infinite money
glitch, the infinite Bitcoin loop, Bitcoin MicroStrategy,
debt, Bitcoin wash and repeat. This thing goes much higher.
Wall Street FOMO is about to be insane, and that's absolutely
right. He's leveraging his company.
The company's share price goes up.
He does it again. Rinse and repeat.
The share price goes up, Bitcoin goes up.
And he keeps repeating this. He literally found the infinite
money glitch in a video game, but he found that in real life,
all thanks to the Fiat system. This is what Sailor's doing
right now. Holy shit, right.
Which is fucking crazy. He's getting hundreds of
millions of dollars out of nowhere at these crazy rates.
The last time when we reported it to you guys last week, it was
at .625% interest rate. That's that's free money
essentially, right? Absolutely crazy.
So Sailor did go on squawk Bach this morning.
Of course, you know, like kind of I would say the the
vindication media circuit celebrating you know, as long
with I think Donald Trump was on this morning as well and they're
asking him some questions. I had the whole entire video is
about 12 minutes and 57 seconds. I don't know if we have time to
play the entire thing, but I'll play you guys at the beginning
because it's pretty interesting. Let's check it out.
Welcome back to Squat Box this morning, Bitcoin Crossing the
$70,000 mark for the first time on Friday this morning, it's now
above $72,000. Join us right now to talk
Bitcoin is Michael Saylor, Micro Strategy Executive Chairman and
AK out from the company this morning revealing it just bought
more than $800 million in Bitcoin.
As of the end of last month, this company held about 200,000
bitcoins. And Michael, I want to thank you
for joining us. You have been early and
courageous and you continue to double down.
I want to talk about where you think Bitcoin is, but also I
want to talk about how you think about micro strategy and your
company as a proxy for Bitcoin. Now that ETF's are available to
the public. Sure.
Well, I think I'd start just with Bitcoin.
It's Bitcoin is is certainly at least digital gold.
It's going to eat gold. It's got all of the great
attributes of gold, and it's got none of the defects of gold.
If you could teleport gold from New York to Tokyo in a in a few
minutes, people would like it. It's going to divert capital
from risk, risk assets and risk ETFs like SPY and you can see
that these, these ETFs are doing that.
It's going to be incorporated into a lot of funds like the
Black Rock Global Opportunities Fund or the Strategic Income
Opportunities Fund. And so as it it's an asset
class, as it goes into other funds, it's going to become
structural. The halving is going to cut the
organic supply of natural sellers in half around April
20th. That means there's only about
30, one, $32 million a day of natural sellers and the price of
Bitcoin is going to have to adjust up in order to meet that
investor demand. So I think that's what's going
to happen next to the asset class.
So absolute bold hearted going in hot.
The guy has his his shirt unbuttoned, he is wearing
Bitcoin merch. I think that's the first I've
seen on Sailor that giant effing smile.
Yeah, this is, this is what winning looks like.
You know in in the next cycle Michael Saylor is going to have
a lot beard. I'm telling you it's going to be
like it's going to be long, you know, and it's just it just
comes with, you know, holding Bitcoin and what it does to you.
It just kind of gives you this like, I just, I don't care.
You guys gave me so much shit for so long.
I was right kind of, ha, ha. You know, of course, you know,
he has to be responsible. He's the CEO and chairman of a
public company, all that good stuff.
But still, man, I mean, he is stepping out of his comfort
zone. He's smiling more and he's
wearing a Bitcoin shirt on legacy financial media, right.
But OK, And on a more serious note, let's pay attention to a
couple of things that he said about how BlackRock is including
this on in other funds. That is absolutely, 100% right.
So other than the ETFs, Bitcoin is being added to other funds.
So other funds are getting Bitcoin exposure.
What what happens when that Bitcoin allocation, that 1% or
3%, whatever, starts outperforming the rest of the
portfolio of that said fun, what happens there, right?
And it starts to become right this, you know, this self
fulfilling prophecy kind of feeds into each other and that's
exactly what's happening right now.
That's what's happening with Michael Sailor's stock.
That's what's happening with these ETFSI think that's what's
beginning, starting to beginning to happen with Wall Street
getting a taste of what absolute scarcity feels like.
And Sailor said it best. We have the having coming along,
right? So that cell pressure gets cut
in half, all the stars and moons and planets through all
aligning. Right now, it's all incredibly
obvious. Maybe we're in the euphoria
phase, Opti, but I don't know, man, the trends are still down.
You know, people aren't really searching this enough.
I'm not. I'm still not getting text
messages from people that I haven't talked to in seven
years, so I still feel like we have a long way to go, my
friend. Maybe I'm being, you know, way
too optimistic, but that's currently how I'm feeling.
Anyways, I want to get Eric Stotts and then we'll move on to
Opti. Yeah, Giga Chad, man, He it's
like he hacked the Matrix. He figured out how to flip the
system on its head and benefit himself in in just such an epic
way. He created this feedback loop.
They have to keep lending these shitty cuck bucks into
existence. He's like, yeah, I got a
business. I'm a fiscally responsible guy.
You can pass it over here. We got a cash flow.
I'll pay the bills. They keep loading the money.
He's like, you fucking dummies. He keeps just putting it into
Bitcoin, dude. It's one of the most epic
things. He's going to go down in the
history books as the greatest fucking traitor in all of human
history. Dude, he's he's leveraging the
Fiat system to speculatively attack the dollar.
That's what's happening right now.
Am I wrong all? Your models are destroyed.
Chat, dude. He's attack.
He's attacking the Fiat system. He can't Fiat system Nico.
He can't actually say that's what he's doing.
Need to say that when he wears that shirt on TV with that giant
smile, and when he eventually starts growing in a beard in
about a year or two, then it's going to be confirmed.
He might not say it publicly, but it will be confirmed at that
point. Going to be a big godly beard?
For sure it is. It might start more.
Lasers coming out real. Yeah.
All. Got 1,000,000 bucks, He's going
to wear all white. He's.
Going to be wearing all weight anyways, Opti.
What's your take on all this, brother?
Dude, I've been saying for a while, man, you know, I wish I
had this infinite money glitch that Sailor has.
He's just, he's absolutely putting on a master class.
And you know, I was, I was watching these numbers.
I think I mentioned it last week on Friday when we were covering
the spot ETF numbers. And it's like, man, it looks
like BlackRock might actually overtake Michael Chad Saylor and
Micro Strategy. And remember we we were covering
this news over the weekend. Nico, it's like what?
When that microphone last. Last what what's it what what's
the sale? I I I'm blanking on what he
calls it. But it was at 600 million and
then Friday came out, it was 700 million and then on Monday
morning it's 800 million. He's like, dude, I am not gonna
let you guys overtake me and like you said, you know 5000
Bitcoin away from getting 1% of the total Bitcoin supply.
Now the real question is, is, is he gonna be able to keep this
up? Because BlackRock seems to be
taking an incredible amount of Bitcoin.
I know, I know, he's going to get.
Passed, but he had the last say. He got it.
He. Got it.
But man it's just it's absolutely incredible and and
really like the signal here is of course not only that sailor
does seem more happy you know he's having a good time.
He's wearing Bitcoin merch on on the show and it's just win
another couple billionaires or one more billionaire comes out
and starts playing this game. Not only is that going to like
it's going to really blow the price up and the game theory is
really going to start to take hold.
But it's going to be incredibly hard for any other high net
worth individual to ever catch up to Michael Saylor or
BlackRock. And they won't be able to.
Yeah, they won't be able to. It's going to be absolutely
incredible. Like we Sailor might like like
Eric was saying, sailor's probably gonna go down as not
only the best trader, but probably the richest man in the
world coming up now. And it's like, man, what a what
a time to be alive. And that we all watch this
happen in real time. And remember, Nico, you were
talking to him in in Madera and he's all like, I have no idea
why no one else is doing this. Yeah, he's like it's the
simplest trade ever. What are you guys even doing?
Do you guys even care about money?
And storing your valley like this is the easiest thing ever?
Yeah, 'cause for anyone tuning in, right?
So you know I I was very, very lucky enough to cross paths with
Taylor and and Bitcoin Atlantis and and Malayeda and Portugal.
And I was like dude, like you're clearly outperforming you know
you you had, I didn't say dude but I was like you're
outperforming stuff. You know you you did your, your,
your your quarter one you know micro strategy presentation.
He's like flexing having him. He's doing the presentation with
the numbers next to him. Micro strategy is outperforming
everything. And I asked the point, but I'm
like why isn't someone copying you by now?
Like this is so obvious. He's like, I don't know, right.
So like, you know and that you can only that you can only do
that for so long until the pressure from markets start to
do what the pressure for markets do best, right.
I don't think it's a coincidence that the CEO of Vanguard stepped
down, you know, a couple weeks or a month or a month after he
said that Vanguard was not going to be allowing their customers
to buy Bitcoin, Right. So again, like, you can take an
ideological stance against this thing, but you know, this
thing's just going to eat your lunch, literally.
Bitcoin is the apex predator. Bitcoin is the black hole.
It's going to, it's going to eat everything in its path and you
either decide to jump on the train or you don't.
Caisson said it best this morning.
I'm going to pull up the tweet because it's extremely, He said.
Bitcoin has won. Those who choose to lay down
their financial arm and capitulate now still have the
opportunity to not get wrecked and keep of some of their wealth
intact. Everyone and everything else
will be devastated. You have been warned 100%,
right? And whether that's the legacy
financial media, whether that's these institutions, I don't care
how long they've been around. If you don't have exposure to
Bitcoin, you're not only doing a disservice to your company, but
if you have clients that are, you know, supposedly looking to
you for financial advice, you're doing a disservice to them as
well, right? And that's, I believe that is
what's gonna be, that's what's gonna become really apparent
this cycle, right. And another indication of that
is not only are we having the legacy financial media
capitulating, this is an opinion piece by the Financial Times.
The Financial Times is again one of the staples of, you know, the
legacy financial. World we don't call them the
Fiat times for nothing. Like, we're literally, like, I
remember when Opti joined, he's like, why the F are we
subscribed to FT and Bloomberg? I'm like, bro, if you want to
know what your enemy's thinking, we have to read what our enemy
is reading, right? And again, so we're very plugged
into what the legacy, the legacy financial media thinks of
Bitcoin because it's really, really important.
And again, this is a capitulation piece, this entire
thing, It's a very, very good, positive step in, in the right
direction. Again, this is once again the
legitimization of Bitcoin in the traditional financial world,
which I know for a lot of bitcoiners, you're like, I don't
give a flying fuck about that, OK, you don't care, but and I
don't think you don't need to care, right?
You know, Eric, Eric Caisson said it best, right?
Bitcoin already won. It's your choice whether you
want to get left behind or not. But still, this vindication
feels good. And this vindication also tells
me that there's a lot more institutional interest coming
in, which means number go up of course.
So anyways, this opinion piece is called Bitcoin Bulls Are not
The Bigger Fools. It's on the Financial Times
website. It goes on to say once dismissed
as fanatics, the Bitcoin bulls must be feeling vindicated.
God damn right we are. They made an accurate call in
the cryptocurrency's potential for gains, witnessed the
staggering rally underway, and we're right, at least in part,
for the right reasons. When Bitcoin was all the rage at
the start of this decade, many serious investors and
traditional economists spurred it as a useless fad, even a
fraud. Their scorn, seemingly confirmed
by its crash in 2022, persists today while the currency
separates itself from the pack. Back in 2021, Bitcoin was often
groped alongside other favorites of the day trading crowds, such
as unprofitable tech and meme stocks.
Today, those other bubblets are traded on average at half their
peaks. While Bitcoin recently hit an
all time high, it is extremely unusual for a bubble to burst
and recover to reach new heights so quickly and suggest that
something real and sustainable is going on.
Again. Guys, you have to understand who
is saying this. This isn't just bitcoiners on
Bitcoin Twitter or bitcoiners on NOSTOR or bitcoiners in general.
This is the legacy financial media telling you this right?
Bitcoins come back as remarkable as well for defying the general
shape of the current bull market, which is heavily
concentrated in the big tech stocks.
Investors have taken the tech heavyweight seriously
throughout, perhaps even more so now that they are seen as the
giants most likely to dominate the future of artificial
intelligence. Bitcoin gets no boost from AI
mania. The Bitcoin bulls have been
proven mostly right about its prospects as a long term
investment and in this regard as the king of crypto.
Since the low point in the late 2022, its prices up around 300%,
more than all but one of the top 10 cryptos, more of what is the
fastest growing from a much larger base, with a market cap
of more than 1.3 trillion. Skeptics doubted that Bitcoin
could ever be taken seriously while its price was swinging so
wildly. But its volatility has been
dropping sharply, according to Bloomberg and at its historic
loads nearly five times less volatile than at the dizzying
highs of the past decade. It is, though, still less safe
as a currency than the dollar. I disagree with that.
Or as an investment than gold. I disagree with that also.
The fundamental story has not confirmed the bull's case for
Bitcoin in every way. They expected that, lifted by
its popularity among the youth, it would become the new digital
gold. That's still a dream.
Gold has been more than holding its own trading at all time
highs and far above its fair value base on inflation
expectations. To diversify away from the
dollar, central banks worldwide are buying gold, not Bitcoin, at
record pace. What?
I mean, what I gotta say about, you know, the central banks
doing that is have fun staying poor.
And here's Dylan Leclair right, accurately pointing out, you
know, the micro strategy playbook.
Micro strategy issues debt to buy Bitcoin, Bitcoin against
debt, micro strategy market cap, micro market cap goes up, weight
in indices goes up, Micro strategy issues, equity to buy
Bitcoin, Bitcoin. And they just rinse and repeat,
right? How long until people figure
this out? How long into a central bank
figures this out, right? How long until that happens?
It's not a question of if, it's a question of when, right.
So expect more of these vindication articles coming out
from legacy financial media. Expect the legacy financial
video media to talk more and more and more bit about Bitcoin
over the next couple weeks. Man, I I agree with Eric.
I think we won. This is what winning feels like.
You know, maybe it's the first innings of it, maybe we're in
the process of jumping that chasm, you know, between the
early innovators and early majority.
But yeah, I mean, you know why I say we're winning guys?
Because never in Bitcoin's history has.
And shout out to Sailor for putting his neck on the line.
He put his public company on the line and his neck on the line
and said listen Bitcoin. A Bitcoin strategy is a
necessity. It's it's not an option.
And he was proven right. And on the nation state level,
you have El Salvador also being proven tremendously right.
Right. And again, do you think it's a
coincidence that the, the country with the most popular
president on the face in in in the Americas has also made
Bitcoin legal tender? Do you think it's a coincidence
that they have somehow figured out the security situation on
the ground of their country and no other country has You know,
do you think that's a coincidence?
Is sure a lot of coincidence these days.
Anyways, that's what I got to say about that, man.
But this is, this feels good, Opti, this feels good.
This is vindication for, you know, bit corners that have been
here for a couple of years, you know.
Yeah, well, I just want to quickly touch on the the Fiat
Times article. You know, I find it very telling
that this is just an opinion piece, not necessarily like a
news story. And if since we've been
following, you know, like I had to catch up and I like at first
like I was even like Nico mentioned, you know, I'm like
why are we following these? Like this is all trash.
But you realize that a lot of signal gets leaked out in quote,
UN quote opinion pieces. And that's how you start to kind
of spread that signal so that it's palatable for most people
and men. Again, this is vindication.
We're seeing all kinds of articles come out from and the
corporate press like this about being maybe the Bitcoiners were
right about this. I think there was one.
I forget where it was. It was like Yahoo or something
on Friday where they're basically saying the same thing.
Like, oh, the Bitcoin bulls are correct.
And I absolutely love that headline.
You know, Bitcoin bulls. We're not the biggest bulls in
the room. We might actually be the smarter
ones in the room. And finally, you know, we're
we're in the cycle where it's, you know, I always joke about
the Bitcoin cycles. There's like three years where
you are considered an idiot and then one year of you being
considered a genius. And how we're getting into maybe
we're going to be geniuses for more than just one year.
So hey, it feels good seeing the Fiat time slowly trickle that
signal out there and you start to see that the tide is
shifting, that people are starting to wake up to Bitcoin
as a viable alternative to everything else.
And now it's palatable. And now everyone's like, wait, I
need a Bitcoin strategy or else I'm getting left in the dust.
So I don't even think we've seen the start of the FOMO yet.
I I again, I'm not getting tech. Like my friends still think
they're they're like, well, my friend this morning was texting
me about like, oh I'm buying Reddit stock, it's going to be
the next GameStop. And I'm like, bro, I've been
telling you about Bitcoin for years now and you still don't
listen to me. So I don't even think we've
gotten into the retail FOMO yet. But hey, Wall Street is starting
to really catch that FOMO bug, and I'm mad I'm here for it.
Oh man. Eric, what's your take on all
this, bro? Are we winning or are we
winning? Oh, we're winning.
And it's game theoretic. You know, the thing that's so
awesome with what Sailor's done is as if other corporations
don't do it. He's going to own the world.
He's going to have corporation. He's going to start diluting his
shares to just buy up all the other companies, you know, and
and unethical companies that have a history of just perpetual
scumbaggery like Nestle, for example.
Come the end of the year, when the accounting rules change,
they're going to be incentivized to buy Bitcoin instead of go to
some impoverished village somewhere, drill a well and then
sell water to people who are starving and thirsty and have no
money, right. And so it's the game theory
that, like, you either join Bitcoin or you get wrecked, you
know? And it's like, yeah, it's a big
deal. I think that what he's done is
just epic. And it's my understanding too
that he single handedly like pushed the accounting board over
the edge and orange peeled these people.
And I do also think that the reason that these other
companies aren't doing it is because of the accounting
practices and the fact that it's it's bad for their P&L and there
are a bunch of normies. These companies are ran by
people, board of directors. They have a board of directors
who don't understand this. They especially if you're a
board member of a mega corporation, you've been a
contillionaire, you've been winning.
So you don't have that economic pain and that like large
incentive for you to figure out how to escape the problems
because your life has actually been quite good.
And so that's all changing now because if these people don't do
it, if these corporations don't adopt the treasury reserve
standard like Sailor did, they're toasts.
And so that's just super exciting.
Same thing with nation states. El Salvador, I look, so dude, 20
years. It's going to be epic to see
what El Salvador looks like, dude.
It's like, dude, it's so exciting.
And it's not like nobody has to make some, like, painful,
terrible sacrifice to do the right thing.
Like, you do the right thing and you get paid the most.
You come up the hardest. And so yeah, it's awesome, man.
Absolutely. Awesome, man.
It feels it feels good. It feels good to win.
Ladies and gentlemen, take it in.
If you guys got in before January of 2024, you frant ran
Wall Street and feel good, feel good.
This is all vindication, ladies and gentlemen.
They're. Telling.
Us. They're telling us.
They're saying it. They're saying it on video.
They're saying it, you know, in the papers.
It feels, feels really, really good.
Anyways, guys, I do want to give a very special shout out to our
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description. All right, everybody, let's hit
the culture. The Daily Culture.
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Check out kaboom racks today. All right, OPTI, what are we
talking about? During the culture, man?
We got Eric here. We got to we got to take
advantage of him joining us. We got the news out of the way.
Yeah, yeah. So just like everyone on our
show, in our chat, they they love Bitcoin origin stories.
So I know we're gonna tee you up for some rants, but let's just
start with the Bitcoin origin story.
So, Eric, why'd you become a bitcoiner?
What? What's What's the deal here,
bro? So I'll give you the most
comprehensive version of that story and keep it as short as I
can. My parents divorced when I was
five years old. My mother remarried a
psychiatrist. He worked in the prison systems
and he fucking gave all these inmates a bunch of pills.
And as a result, multiple family members of mine got into anti
anxiety and antidepressants. You know, societally accepted.
And they thought that they were doing the right thing because
here's this individual with a doctorate degree who's credible
and whatever. And so by the time I hit my
teenage years, I developed an affinity for cannabis and an
aversion to pharmaceuticals. And what now I look back at is
just the Fiat world. And that led me into ended up in
Humboldt County. In 2009 I got invited to
Humboldt County to trim a on a trim scene, an outdoor harvest
with, I don't know, a bunch of ganja and it was a medical
marijuana farm. And for me that was kind of a
dream come true. I never left.
I've been here since and I started to professionally
cultivate cannabis and I had all of my ducks in a row when Prop
64 was passed. And so I purchased a property in
consultation with Humboldt County and the state of
California to become a licensed cannabis farmer.
And that was in 2016. It was a two year process of me
owning this farm, becoming licensed and then in turn
selling the the property. It was the 1st house in the
first acreage that I had purchased.
So I spent, I don't know a year going down the rabbit hole
learning about our economy and our money system and the boom
bust cycles. You know, I was 33 years old at
the time and obviously I own this land, so I had a huge
economic incentive to understand what forces I was contending
with and that sent me to understanding hard money and
then Bitcoin. It was like 2017 in November
when I discovered Bitcoin and my mind exploded.
I couldn't believe it because I had seen demand meet supply and
as demand meet supply with anything and in my case it was
cannabis, the the value of that product was going down and my
basic understanding at the time of Bitcoin and having this hard
capped money which essentially money has infinite demand on it.
It's a call option on any good or service that the marketplace
produces. So everybody on planet earth
wants money. So you got infinite demand with
true scarcity. So as the demand goes up for
Bitcoin, the supply doesn't doesn't change as the demand was
going up for cannabis, their prices bid up.
It's more of an economic incentive for entrepreneurs and
capital to move into the cannabis business and meet that
demand, with supply driving the price down.
And so my stumbling down the rabbit hole, if you will, really
helped me to understand that I had an existential crisis and my
dream come true. I ended up getting licensed in
the first week of January 2018, which was the beginning of
licensure from the state of California.
It was like a dream come true for me.
Since I was 15 years old. I had been, I don't know, kind
of like an outcast for liking cannabis and no other drugs.
My I had an affinity for cannabis because it's a fucking
plant and it's anti cancerous and it's, you know, I don't
know. I think that people should at
the very least have the option to consume cannabis and not go
to jail if they want to, right? And so this was an epic
monumental achievement for me in my life turn absolute nightmare.
You know, as an example, 10 years ago a bulk wholesale
premier pound of cannabis was $3000, and today a better pound
is like 800 bucks. But my cost of living is
doubled, if not tripled. So I make anywhere between like
1/6 to 118th per unit produced. And so that's the deflationary
forces that we're experiencing in the world.
And at the time when I own this property, I intuitively knew
that I had a problem and my, I don't know, come to Bitcoin
moment, if you will, was what? What incentivized me to sell the
property and pivot my business strategy to consulting.
And when the Sailor series hit, that's when I was all in.
I panic sold essentially sweating bullets, just like
everything that I possibly could and piled all into Bitcoin.
And actually I I haven't purchased a house since I sold
that property. And I live in a rental.
I own two vehicles. I got a wife, I got one kid, and
I live in a rental and I own Bitcoin.
And it's quite liberating, honestly.
It's a it's a powerful feeling. And it's also, you know, for me,
every time I bag a pound, it's a fuck you to big Pharma.
You don't have multiple family members who died as a result of
getting into pharmaceuticals. My mother committed suicide when
I was 20 years old because she had been taking antidepressants
for, you know, 10 years, 15 years, and they didn't solve any
of her problems. So now, like, I stack Sats and
it's a fuck you to the big Fiat world, right.
And so there's a lot of things that are aligned there that are
kind of powerful and mean a lot to me.
Yeah. So I'm.
I'm a hardcore bitcoiner. No shit.
Coins. Nothing.
No gold. None of it.
All Bitcoin. All Bitcoin forever.
I'll ride this thing to Infinity or to zero.
I don't give a fuck, dude. Let's go, Let's go.
Oh man. He literally sold his chairs for
Bitcoin. Let's, let's talk about what?
You are shit coins, ladies and gentlemen.
We're not in chairs right now. Let's talk about what you were
telling us before we even went live on how you have no concern
over Bitcoin regulations and how regulations are going to have to
bend the knee to Bitcoin, especially considering what you
just told us. I think that's great.
Great segue. Yeah, so in 1996, Prop 215 was
passed in the state of California, which was the
regulation that put into effect lawful production and
distribution of cannabis or medical marijuana at the time
for qualified patient members. You could go to a doctor.
If the doctor and it turned into a pay to play, you know what
kind of situation. You go to the doctor, you say
hey I have aches or pains or I have terminal cancer and
everything in between and they'll write you a prescription
for cannabis which allows you to go to a dispensary.
They purchased cannabis. Well the result of that over 22
years until Prop 64 passed an adult use recreational cannabis
was voted into effect was a multi billion dollar industry.
So you have this existing multi billion dollar industry and in
2016 the people of the state of California voted to pass adult
use recreational cannabis. It became like really legal.
It wasn't this quote UN quote Gray market that had it.
It had been for the prior 20 years.
And what ended up happening is, is that when the the the new
regs or the new rule passed then the regulators in the state of
California had to come in and bring in Rule sets regulations
for an existing multi billion dollar industry.
And they do what regulators do best.
The sailor would say a bunch of well-intentioned politicians
with too many rules and too many fees, and so they came at the
industry with like, way overbearing burdensome extensive
red tape. It was just crazy regulations.
And what it ended up happening is, is that the business owners
or the cannabis industry at large essentially said no, we're
not participating in any of that.
Like, you get fucked. We're not going to quote UN
quote, as the state said, come into compliance and participate
in your rules and your regulatory overreach because
it's craziness when you're talking about farms that are
visible from satellite. You can go on Google Maps and
you can see these farms, they're they're giant greenhouses like
the one that I'm in here. You can see it on Google Maps.
And so as opposed to the state of California sending people all
around to the state to go punish these individuals who basically
said your rules are crazy and we're not going to participate,
they went back to the drawing board and they came back with
much more favorable rules. A good example of those
statistics in the state of California, the governor, Jerry
Brown at this the time wrote into effect MRSA Medical
Marijuana Safety Regulations Act, which put into effect the
basic infrastructure and regulatory framework
preemptively for the passing of Prop 64.
And that put in put pressure or it made this, the counties come
up with their own land use ordinance.
You could either approve or deny cannabis activity of any sort in
your county, but if you're going to approve it, you have to
permit it. It's kind of like if you're
going to put in a bar somewhere, you have to get a liquor
license. So the county or the
municipality which you operate in has to approve the setbacks.
This can't be too close to a, you know, a school.
Or. A bus stop or whatever.
And so Humboldt County put in their land use ordinance because
Humboldt County has been the Mecca of cannabis production
within the country indefinitely. State of California since I
don't know for quite some time, their rule set said essentially
you have a deadline. This is the end of 2015.
It was six months from MRSA being signed into effect, six
months to register your farm. At the time, the planning
department in Humboldt County counted 12,600 and some odd
farms that they determined to be of commercial scale that you
could see via satellite. Out of those 12,600 and some odd
farms, 123 people registered their farms.
The entire cannabis production community basically gave the
middle finger to the state and the regulators and said what
you're asking for is absolutely preposterous, It's too much,
it's not going to happen. And instead of the county
sending people around to go punish these individuals, they
went back to the drawing board. They extended the deadline an
entire year and came back with way more favorable rules.
And so the way that I look at what's happening with the United
States government or any of the governments around the world,
and the attempted ban on self custody or the idea that they
want to KYC who the miners sell the coins to is preposterous.
You can't see the Bitcoin. You don't even know if someone
has it. Like I send my coins off of
coin, I buy AK, I bought a bunch of it KYC, but did I send it to
the right address? Like I know individuals who
literally have lost coins. You can't even prove that they
have the keys. And so if the regulators in the
state of California couldn't force regulations down the
throat of brick and mortar businesses, large cannabis
facilities that you can see from space, how are they going to
force rules down the Bitcoin community?
They're going to bend the knee so hard, they're going to get
hospitalized if they're not careful, and they're going to
come back with much more favorable rules.
And just like all the Bitcoin maximalists know, at some point,
you know, like in the famous words of breedlove, Bitcoin is
going to make governments become beholden to the preferences of
its citizens. We have the power, you know, And
another thing Sailor said in What's the IT was a podcast with
him, Kayson Valles and American Holdel and Breedlove.
He says that the regulators or the governments or the the
ruling class, they have contempt for people who are weak, but
they respect people who are powerful.
And now we're powerful. We have F you money, we have
unconfiscatable, inviolable property, and they're going to
come correct, as they say, on the streets.
They are going to come with much more favorable terms.
They're going to try a bunch of preposterous crazy shit like
they did with cannabis. They're going to ask for it all,
and they're going to get none of it until they come with things
that the people agree to. And so we have leverage Now.
For the first time in human history, we have all the
leverage and it's good Bitcoin. Here's another thing.
Bitcoin is no threat as far as I can tell to anybody.
I used to think that, oh Dang, this is a threat to the central
banks. No, it's a solution for
everybody. You know, they hard forked
reality when they started lying and debasing the certificates
that they had representing the gold on on reserve.
And that created this feedback loop and it's like distorting,
bifurcating. It's destroying our culture, our
society, wrecking time preference.
And this Bitcoin, it pays you to do the opposite of that.
And yeah, as far as I, I, I can tell, I look at the world, it's
a fundamentally new world. 2009 Satoshi changed our reality.
We live in a fundamentally different world.
It's different paradigm. The incentives are different.
The incentive is to peace. And like it's not hard now to do
the right thing. You get paid to do it.
And so corporations, nation state plebs, Ballers, central
banking, bloodlines, all of everybody's coming in for
Bitcoin because it's the way to get the most.
We live in a world where it's energy in, energy out.
You want to exert the at least energy to get the most in
return. That's been the way the world
has worked since the beginning of time.
And now the way that you do that is to hoard this metaphysical,
invisible, finite property. As Saylor says, it's the hardest
substance in the known universe and it fundamentally changes
everything. And it's the most inspiring
thing ever I could do in my used to be a little bummed on the
world. I think everybody can can attest
to that now. I fundamentally think, and I
truly believe this to the core of my being, this is the most
exciting time to live in all of human history.
This is a big deal, and I'm absolutely enthralled and I'm
just really grateful to be a part of it all.
So yeah. Hold on, hold on, everyone's
requesting the sound boards. Yeah man, I really like the hard
forking reality meme. Like, that's a great meme.
And someone in the chest, like, wow, I never thought of that.
Fucking hijacked the shit. It's incredible.
Yeah, dude. OK, hold on.
I have so. Yeah, I know.
I can see Nico's actually enthralled.
He's like so. Many.
I have so many questions there. OK.
First of all man, that was effing inspirational.
I don't say that lightly. That was, that was some that was
some good stuff. And I just gotta say man, look
yes, not only did they hard fork reality the the nihilism that
you're describing, right, I I think a lot of the world is
feeling that right now this this lack of opportunity, lack of
hope and I think that they continue to seek a political
solution to it. But the reality is it's just a
the the solution's right, it's right, it's right in their face,
right. It's just to opt out, switch
your money, switch your, you know, your unit of account, and
then all of a sudden you have hope.
All of a sudden you're like, wow, it's like not only will I
be able to afford my hopes and dreams, my family's family's
family will be able to afford their hopes and dreams.
And really what's happening right now is the world is
getting unfucked from this SIOP that for some effing God damn
reason money has to lose purchasing power in order for it
to exist. And all of a sudden comes the
freight train of Bitcoin. And it's basically saying like,
yo like not only does it not have to lose purchasing power,
it actually could dramatically increase in purchasing power
over time. Meaning all you got to do is
save buddy, work on what you love, put some of the money to
the side, save, and all of a sudden you're going to have a
future. You're going to have hope for a
future. Doesn't matter where you are in
this pyramid, right? You're the lower, you know, the
the lower class is poverty, whatever.
You know, if you put a little bit to save in Bitcoin, talk to
me in 4-8 years, 10 years, 12 years, I bet you you're going to
be way better off, you know, than where where you started.
So yeah, I think the world is changing that operating system,
They're going from this nihilistic, fucking hard forked,
hijacked, whatever you want to call it, to Bitcoin, and all of
a sudden Bitcoin's giving them their time back.
It's giving them hope back. It's giving their opportunity
back, man. So you hit the nail on the head
and yeah man, especially with kind of like the industry that
you're working in kind of coming up And you know, if you if you
learn the the the history of of of cannabis in the US and the
legality of it, you know, it's a very, very interesting rabbit
hole to say the least. But that example that you
brought up. But basically, let look, the
government tried to step in, basically get everyone to
register and KYC their farms and you know, the vast majority of
the farmers said like, Nah dog, I'm OK, I'm good.
And like I don't want to deal with that.
Now could you imagine like on a nation, nation level instead of,
you know what the thing you said 1200 farms.
It's millions of individuals basically saying wait a second,
you want me to like send you my pub files and my balances and my
addresses? Why do I have to do that?
Right. And then that's gonna be a a a
really kind of like, not only for the politicians is that
gonna be a very tough pill to swallow, but also for people,
they're gonna feel empowered the likes of which they've never
felt empowered before. Right.
And this applies to everyone on the economic spectrum, right?
Which is the beautiful thing about Bitcoin, right?
You might not have as much Bitcoin as Sailor.
You might have .25, but you're going to benefit from number go
up just as much as he is. And if you take self custody,
because that's one of the things that Eric didn't say, right,
you're going to benefit from all this, but only if you're taking
Bitcoin in self custody, right? That's the that's the big
caveat. If you're taking Bitcoin to self
custody, you're going to benefit from all this tremendously.
But that's the beauty of Bitcoin, right?
Is that everyone benefits equally, right?
Doesn't matter whether you're Larry Fink, Michael Saylor, you
know, the pleb that has .1 or .25 Bitcoin built up, you're
going to benefit from that number go up.
So yeah, man, I appreciate you telling us, you know, your story
and that example with the cannabis farmers.
And I think the same thing's going to happen with self
custody. I think the same thing's going
to happen, man. Yeah, it was 123 out of 12,000
farmers. 12,000 to farm. They want a farm.
That's why they're doing it. And so they basically, they said
you get your your rules are preposterous.
You know, other thing I want to add, if I could, is this.
I think Bitcoin is making things better for people who don't even
own Bitcoin. The no coiners are benefiting
from the fact that I don't own, that I don't own a home, that
all my economic energy is stored in Bitcoin as opposed to a
fourplex or multiple single family homes.
The fact that BlackRock is stacking SAT's now instead of
buying more single family homes is downward price pressure on
housing and upward price pressure on Bitcoin.
And the fact that Bitcoin is this invisible property, it
means that as the economic energy or the the the money goes
into it, it's price going up. The hoarding of it doesn't hurt
anybody. It's like, I love what Booth
says, where you have abundance and money, you create scarcity
and goods and resources. Where you have scarcity and
money, you create abundance in goods and resources.
Yeah, I think I said that, right?
And that's a big deal. And I also think that the the
Fiat paradigm, because every time there's a liquidity crisis
or an insolvency within the system, they have to bail out,
they have to print more money. And the fact that the money is
getting lent into existence as debt against assets means that
everything in the marketplace has to go up.
So when there's a a crisis, you have exponentially more
liabilities within the system requiring exponentially more
money printing. And as that money gets injected
into the system, prices are going up on things.
And like Saylor says, it's a vector.
You can't measure the inflation because money moves into
different sectors in the marketplace at different rates.
And so I believe, and I've been thinking a lot about this over
the last, I don't know, year and six months and three months has
really become, I think it's become a thesis that I can't
dispute. Bitcoin is supreme collateral.
If I'm a financial institution, let's say I'm going to personify
a bank or all the banks where they have to keep with with
fractional reserve lending. Where you got to keep printing
money into existence is debt against assets.
I'd rather lend against Bitcoin because it's premier collateral.
So if I'm lending it against houses and let's say some guy
loses his job and he's in the middle of a remodel in his
kitchen for example, he has to foreclose on that.
The bank has to foreclose on that individual or that family.
And then they have to sell this house into the marketplace only
where there's people want to buy that house in that actual
location. So I live in a small town.
For example, let's say someone goes belly up and they can't pay
their mortgage. The bank forecloses.
Then they got to sell that 20 people. 50 people want to buy
that house. But if you start lending Fiat
dollars against Bitcoin, let's say you it's like AB lock a
Bitcoin equity line of credit. Then if someone goes belly up or
they can't pay the bills, then the banks can sell that Bitcoin
24/7 365 to get their money back.
And if the inflation, the debasement of the currency
starts going into the Bitcoin price and Bitcoin starts going
up forever, Laura, like it's going to, that doesn't hurt
anybody. If they keep debasing the
currency and housing goes up 5X in a three, five year period or
something like that, people are going to be fucking homeless.
But if they're debasing the currency and the money's going
into Bitcoin, that doesn't hurt anybody.
It actually helps everybody including the Noah corners.
And then and another thing that I will add to that, that I think
about a lot actually, and then maybe the most, I don't know,
like liberating concepts for me is, is there's a lot of
narrative within the Bitcoin community about a potential
61020. The, you know, the honeypot
black rocks got all these coins, the ET FS got all these coins.
They're going to fucking confiscate all the coins and
they're going to send everybody into a CBD and enslave a
humanity and we're going to reduce the population and feed
everybody bugs, right? Well, I get the thesis and I
used to have that fear when Bitcoin hit the scene.
I'm like, oh Dang, this is, this is a, this is a problem for like
the people who have been benefiting from our broken
paradigm. Well, so if I'm a central banker
or central banking bloodline or just the government or some sort
of financial institution, you're going to continue doing what has
to happen, right? Like, you got to print money,
You got to keep the dollar system going.
You can't just turn the Fiat world off and start a Bitcoin
standard. There has to be some sort of a
transition. And also, let's not forget the
incentive is to stack SAT's. We want to get the coins.
They can print money. They can print money.
I'll tell you right now, I'm a hardcore die hard fucking
maximalist and the last thing that I would really be into is
giving some of my Bitcoin to a bank.
But I'll tell you what, like I'm tired.
I'm 39 years old, I've been working my ass off.
Like I would consider. I'd have a tough time not
considering giving up a fraction of a coin to be able to borrow
some Fiat dollars. So I could go up town, take a
break, relax for a minute, and so if they can lend money and
against Bitcoin, it's an incentive for people to give
Bitcoin to the banks. It benefits the people.
The banks now are going to get to get some Bitcoin.
You could pay the bank back and get your coins back.
You can now create like this feedback loop that the
Contilionary effect has when you own like a real estate
portfolio. But it's not hurting anybody if
that happens. And so also I think that it's
going to transition us into the Bitcoin standard.
The governments are going to continue to go broke.
The more that they debase, the more that their cost of
operating goes up, the more that they have to debase.
But as they adopt A Bitcoin standard, their balance sheet,
their treasury reserve, starts to appreciate at such a fast
rate. It's it's an upward price move
in your balance sheet, faster on average than the deflationary
forces you're experiencing in the market.
Your loss of income is happening at a slower rate than your
appreciation on your balance sheet.
So it like fixes everything, including Fiat.
It makes Fiat better. And so it's going to slowly
bring solvency back into an insolvent world.
It's going to slowly bring, I mean actually I can say I think
it's happening at hyper rate. It's going to bring honesty back
into a dishonest world. It's going to bring culture into
a societally debased world like it.
As far as I can tell, the more and more I think about this,
it's all roads lead to Bitcoin. It's it's epically exciting.
I can barely believe it. Sometimes I'm like, Dang, can
someone pinch me? Like I feel like I might wake up
tomorrow back in my old nightmare of a life like this.
This is borderline too good to be true.
So yeah, that's that's a lot there.
I'll. I'll type.
They want horns in the chat, some multiple.
Horns. Damn bro killed it.
Ari killed it. Drop my, drop my that was.
Great. That was great, man.
I don't think we, I think we could wrap the show up on that.
That's just. Piercing.
They're gonna wrap it up or no, I'm gonna pull it up.
T Eric, if you had some last words, there we go for our
audience. What would they be?
Relax, fucking calm down, everybody.
Let's let's take a play out of Jeff Booth's playbook.
If you yell and if you focus, energy goes where energy flows,
where attention goes. So if you're focused at the on
the clown world and you're yelling at the clown world and
you're tweeting about how fucked it is and we all know it's
fucked. Like I don't live in some
delusional state where I'm unaware of the atrocities that
are taking place on planet Earth, but I don't want to
continue to fuel it. I'm not putting attention into
that. So I I would say that I'm
enthralled like I'm not. I'm super grateful.
I'm bursting at the seams with gratitude and joy and bliss As a
result of this discovery. Satoshi changed everything and
so I like the focus of the new world, the new system.
It's a new protocol. Jeff Booth, he's transitioned
his entire life, all of his energy, into the new world.
And if you look at a guy like Jeff Booth, this guy is pure
bliss. Dude.
He's not strengthening the old system, he's putting all his
energy into the new system. And so there's a divide and
conquer strategy by the sociopaths participating in
their perpetual scumbaggery. They want us all fucked up
against and and like at each other's throats.
Men versus women, this versus that.
Up, down, left, right, blue, red.
It's craziness. We don't need to worry about
that anymore. There is a new incentive
structure that's changing the fabric of our reality and it's
fixing. So let's focus on that.
Let's move into that. So if you have a problem with
clown world, I would suggest you stack some Sats.
If you're bummed about the fact that your grandparents got to
buy a house for three or four years or 2 1/2 years worth of
their annual salary, you know you make 30 grand a year.
The house is 90 GS. Well, now you make 50GS a year
in the house that you want 500 grand.
We'll start thinking about Bitcoin.
Focus on Bitcoin. Measure the things that you want
in Bitcoin. Your house is going.
The house that you want in the future is going down if you
denominate its value in Bitcoin. Everything is getting less
expensive if you denominate its value in Bitcoin.
Houses aren't going up in value, they're going down in value,
like cars. Like why is it a 50 year old
house that's like shitty and needs new floors, that's got
asbestos ceilings and the roof is leaking cost 10X what it did
50 years ago? Because we're measuring the
value of the house and A and A and a moving unit.
You can't solve for that. Bitcoin solves for that.
It's a fixed unit in a in a world that is full of nothing
but variables. Everything is in flux except for
Bitcoin. Measure what you want in
Bitcoin. Focus on Bitcoin.
Pay attention to Bitcoin. Put on your orange glasses.
It's a bright motherfucking orange future.
We have so much to be excited for.
Let's stop strengthening the old world.
Let's be excited about the new It's here.
It's not even like, yo, oh, it's going to make things better.
It's making it better. It is better.
It's happening in front of our faces and it's something to be
super grateful for. Yeah, it's it's done.
We won. It's here.
It's not going away. Bars.
Absolute bars. It's ultimate field for a
reason. And Eric just killed the red.
He bro, your nihilist feels compared to what air is stopping
though. Jeez, Eric's got to come back on
the shelf. Man, I really, really enjoyed
it. Dropping the fire, dropping the
life experience and kind of tying back in.
And yes, if we are heading into, we are in a bright orange
future. We are in the Bitcoin future,
but only if you're denominating your wealth in Bitcoin, only if
you're on a Bitcoin standard, and most importantly only if
you're taking self custody of that sweet, sweet Bitcoin that
you have earned through your proof of work.
You know that's how you start to benefit from this thing and you
feel it. You feel that optimism, that
optimism of living on a Bitcoin standard?
Anyways guys, that was Monday, March 11th episode.
Wait, Niko, Let Bitcoin live? Let Eric plug?
Where can people find you all that good stuff?
Yeah. So if you resonate with anything
that I have had to say or my sheer optimism, which is
genuine, this isn't a lie, like this is real as fuck.
I make rants on Twitter. I start the camera.
I go for 5 to 25 minutes just shredding on what I believe to
be taking place in the world. My Twitter's Eric V stacks.
I don't know, I probably got like 50 to 70 videos there.
And yeah, I'm going to El Salvador for the having party.
Shout out to the having party guys.
They've. I can't even believe what they
have put together. I'll be in Bitcoin or in
Tennessee. Nashville looks like I might be
in Prague and Oslo Freedom Forum.
I'm going to do some travelling. I mean, I'm all in on Bitcoin.
I want to focus on the Bitcoin world.
I want to participate in the peaceful Bitcoin revolution.
And so follow me on Twitter. Eric V Stacks.
Amen. Amen.
Let's go. You guys want some more of
Eric's epic, epic rants? Go check him out on Twitter.
Eric V stacks. And he'll and he'll be at a lot
of Bitcoin conferences that simply will be at too as well.
So I'm sure we'll cross paths again.
Anyways, guys, if you enjoyed the episode, you know what to
do. Smash that like but and consider
subscribing if you feel like we provided you value, but then one
thing you could do to help push the peaceful Bitcoin revolution
is share Bitcoin content. That includes simply Bitcoin.
That includes Eric's content. That's how we have to take over
the culture. The way that we do it is, is
sharing Bitcoin art, Sharing Bitcoin music, Sharing Bitcoin.
Just just share the message. Spread the peace and love man,
we've already won. Calm down, calm down.
Like Eric was just saying. Anyways guys, we'll be back
tomorrow for a brand new episode of Simply Bitcoin Live.
Until then, love you all. Peace out, everybody.
Episode was brought to you by bitcoinwell.com, a Bitcoin only
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