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It's all going to zero against 
Bitcoin. 

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It's going up forever. 
You're against Bitcoin. 

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You're. 
Against freedom. 

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Morning. 
Because I what I think is 

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happening is really what we want
to measure is your purchasing 

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power and energy terms. 
And so I like oil. 

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And so this is the, this is the 
SPXTR. 

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So the S&P total returns that's 
what this is. 

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So the S&P total returns, what 
I'm showing for those listening,

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since 2020, the SPXTRSPX total 
returns is 83.59%. 

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00:00:53,400 --> 00:00:58,800
So since 2020, you're up 83.59% 
in the SPX total returns. 

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Now if you measure SPXTR against
gold, so that's X PS:, XPXTR 

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over USD. 
So in dollar terms, it's up 

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83.59%. 
Is it up in gold? 

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What's SPXTR over gold? 
14.52%? 

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OK, so you're still up. 
So for all the gold bugs, you're

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better off owning the S&P than 
gold since 2020. 

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Now are you up in oil terms, 
which I think is energy terms? 

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Energy is the foundation of 
society. 

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It's how we do shit. 
No, the S&P total returns 

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against oil is down 71.97%. 
What is the only thing that's 

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S&P is down worse than oil 
Bitcoin, but not by much Bitcoin

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74%. 
That's So what I think we're 

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seeing is like the dollar and 
the treasury market in oil terms

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isn't keeping up. 
And so people are rotating out 

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of treasuries, out of bonds into
we, we talk about harder assets,

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fixed supply assets, but at the 
end of the day, it's assets that

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can protect your purchasing 
power in energy terms. 

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And so this to me, this is 
insane because there are people 

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like our friends are like, yeah,
my stock portfolio is booming. 

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I'm up 80% since 2020. 
Yeah, you're up 80% in dollar 

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terms. 
How much in gold terms are you 

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up? 
I'm up 14%. 

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Well, how much in Bitcoin terms 
are you up? 

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You're not up, you're down 75%. 
So you've lost 75% of the 

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ability to buy Bitcoin by 
sitting in the S&P 500? 

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Yeah, welcome to Simply Bitcoin 
Live, your number one source to 

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the peaceful Bitcoin revolution 
Cup. 

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Breaking news, culture, aromatic
warfare. 

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We will be your guide through 
the separation of money and 

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state. 
Ladies and gentlemen, coming at 

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you live from the beautiful 
Puerto Rico. 

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I'm going to be here for the 
next couple of weeks, starting 

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with the cold opening. 
Opti's telling me to angle the 

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mic up. 
I think I'm just going to put it

46
00:03:06,320 --> 00:03:08,800
right here, get it nice and 
close. 

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But yes, Jack started cold 
opening with Jack Muellers 

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basically saying the quiet part 
out loud, which is even with 

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SNP, even with like real estate 
gains, even like with these 

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00:03:20,760 --> 00:03:24,960
traditional investment assets in
regards to Bitcoin, you've 

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actually lost purchasing power. 
This is a message that we've 

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been trying to hammer in home 
for I don't know how long and 

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I'll just read out some of these
things. 

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In dollar terms, if you have 
been saving in Bitcoin, the 

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dollar is 80% cheaper oil. 
If you've been saving in 

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Bitcoin, it's 91% cheaper, gold,
90% cheaper, S&P, 563% cheaper. 

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the United States medium new 
house. 

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So with housing doubling, it's 
84.95 percent cheaper if you've 

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00:03:54,960 --> 00:03:59,040
been saving in Bitcoin. 
Bitcoin is the superior asset. 

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Like Max Keiser always says, 
everything is going to go to 0 

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as it relates to Bitcoin. 
It's just a matter of time 

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before the world wakes up to 
that reality. 

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Not to mention Bitcoins physical
characteristics with a piece of 

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real estate with, you know, 
let's say you own an index fund.

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00:04:18,279 --> 00:04:22,079
Let's say you have stocks. 
In all those cases, you're going

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to rely on custodians, right? 
You have to pay, you know, fees 

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00:04:26,160 --> 00:04:28,640
to those custodians. 
Those custodians are third 

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parties. 
You're trusting a third party 

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00:04:30,720 --> 00:04:33,120
with the custody of your wealth 
and your assets. 

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And then with real estate, you 
have to pay property tax. 

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Also, you have to pay 
maintenance. 

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What if there's a a natural 
disaster, a hurricane, a 

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tornado, you know, an 
earthquake? 

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You, you have to pay for those 
expenses. 

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00:04:46,240 --> 00:04:49,720
Bitcoin, you can literally put 
it in a self custody cold 

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00:04:49,720 --> 00:04:52,600
storage wallet. 
Leave it there. 

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No fees, No, maybe you have to 
upgrade your wallet every five 

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or six years, but it's like 
minimal, maybe a couple $100 

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00:05:00,960 --> 00:05:03,400
that it's gonna cost you, but 
that's it. 

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00:05:03,520 --> 00:05:05,560
It's just gonna stay there, 
right. 

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00:05:05,760 --> 00:05:10,280
So not only from a maintenance 
perspective is it considerably 

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cheaper, you can transfer, you 
can take it with you, you can 

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00:05:14,520 --> 00:05:15,960
send it anywhere around the 
world. 

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00:05:15,960 --> 00:05:18,480
You can't send like stocks 
anywhere around the world. 

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You can't send a house anywhere 
around the world. 

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It's kind of stuck where it's 
at. 

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00:05:23,160 --> 00:05:25,640
And Bitcoin is better performing
now. 

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I think the point where Mahler's
pointed out, which is 

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fascinating to me because this 
is something that actually Max 

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00:05:32,520 --> 00:05:36,960
Keiser was saying the other day 
when he went on the Alex Jones 

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Show, he predicted that within 
12 to 24 months, maybe it's a 

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little aggressive. 
Everything was going to be 

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00:05:44,080 --> 00:05:48,400
energy prices were going to be 
repriced in Bitcoin versus 

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dollars. 
And it kind of makes sense 

95
00:05:50,960 --> 00:05:55,320
because the argument that Jeff 
Booth makes is that the world 

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00:05:55,320 --> 00:05:59,080
should be naturally 
deflationary, But as long as 

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00:05:59,080 --> 00:06:02,320
you're living on a Fiat money 
standard, because of 

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00:06:02,320 --> 00:06:05,480
government's manipulation of 
money and because of their 

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00:06:05,480 --> 00:06:10,000
coercive means, it creates this 
artificial, artificial, 

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inflationary world. 
If you're on a Fiat standard, 

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Bitcoin is the only asset that 
will actually allow you to 

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experience the world as it 
should be. 

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Due to the productivity gains of
technology, things should 

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naturally be deflationary. 
And that's something that the 

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world has been psyopped into 
thinking, which is that somehow 

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money has to lose purchasing 
power in order to function. 

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And it is the job of us 
Bitcoiners to really wake people

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the F up to that reality because
they're sound asleep. 

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They're too busy fighting 
between red party and blue party

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and left and the right where 
they don't realize that the 

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issue is broken money. 
So we fix the money, we fix the 

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world. 
We've made a tremendous amount 

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of progress on that front in 
terms of moving the Overton 

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window. 
Trump speaking at the Bitcoin 

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00:07:02,160 --> 00:07:05,680
2024 conference was a historic 
event. 

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I can't emphasize that enough. 
You have mainstream broadcasters

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from Tim Poole, Russell Brand, 
Tucker Carlson all dropping 

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Bitcoin by name. 
It's just a matter of time 

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before they come to the 
realization that Bitcoin is the 

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00:07:19,360 --> 00:07:23,360
solution to at least half the 
world's problems, because you 

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00:07:23,360 --> 00:07:26,560
can make a very strong argument 
that half the world's problems 

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stem from rotten, corrupt, 
broken money. 

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And that's exactly what Bitcoin 
fixes. 

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And I think that's a great way 
that Mahler's pointed out the 

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way that he broke down that case
in regards to. 

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Yeah, like, look, it doesn't 
matter if you, you know, you've 

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00:07:43,480 --> 00:07:47,320
you've invested in the best 
index funds, Bitcoin has still 

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00:07:47,320 --> 00:07:50,840
outperformed everything. 
Essentially the only thing that 

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00:07:50,840 --> 00:07:54,640
Bitcoin, you know, according to 
that graph in the the analytics 

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00:07:54,640 --> 00:07:57,360
that he was looking at, the only
thing that Bitcoin, it still 

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outperformed it, it just didn't 
outperform it by a a huge margin

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00:08:01,360 --> 00:08:02,920
was energy. 
And he makes a really good 

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00:08:02,920 --> 00:08:04,400
point. 
The energy makes the world go 

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round. 
But you know, Bitcoin and energy

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00:08:06,600 --> 00:08:10,120
go hand in hand. 
Bitcoin monetizes stranded 

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00:08:10,120 --> 00:08:13,320
wasted energy. 
No other asset on the face of 

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00:08:13,320 --> 00:08:15,760
the planet does that. 
Bitcoin is truly unique. 

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00:08:15,760 --> 00:08:18,680
Anyway, I'm gonna bring up my 
coast, who filled in for me 

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00:08:18,680 --> 00:08:23,400
yesterday with our boy Adam 
O'Brien from Bitcoin. 

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Well, of course, we got Optimist
Fields in the house and we got 

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00:08:27,080 --> 00:08:29,760
Matt from Macro Minutes. 
Back in the day when Simply 

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Bitcoin used to do the Twitter 
Spaces. 

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00:08:32,400 --> 00:08:33,640
I think this was like a year 
ago. 

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Macro Minutes would come in 
there and drop the macro fire. 

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00:08:37,799 --> 00:08:40,880
So happy to have Matt back on 
the show today. 

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How you doing bro? 
Doing well. 

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Thank you guys for having me. 
I appreciate it. 

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I was actually telling Optia 
offline. 

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00:08:47,600 --> 00:08:51,400
I feel like I had a bit of 
imposter syndrome at that time 

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00:08:52,000 --> 00:08:54,440
because I was so interested in 
what was going on in the world, 

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but I didn't necessarily have 
the experience to always 

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00:09:01,360 --> 00:09:03,840
communicate what it was that I 
was trying to get across. 

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00:09:03,840 --> 00:09:07,800
And have definitely pivoted more
to just leveraging my 

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00:09:07,800 --> 00:09:10,320
engineering background now and, 
and talking about that stuff. 

155
00:09:10,320 --> 00:09:14,160
So hearing you talk about 
Bitcoin and its ties to energy 

156
00:09:14,480 --> 00:09:17,880
and not losing purchasing power 
and energy terms is like, man, 

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00:09:17,880 --> 00:09:20,440
you're speaking my exact 
language because I'm, I'm 

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00:09:20,440 --> 00:09:22,800
sitting here in the parking lot 
of a power plant right now, 

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00:09:22,800 --> 00:09:26,600
literally so. 
Bro you dude, you literally like

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00:09:26,680 --> 00:09:29,080
what do you mean? 
What do you mean that you're 

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00:09:29,080 --> 00:09:31,200
you're suffering from imposter 
syndrome? 

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00:09:31,680 --> 00:09:33,800
Eco, sorry, you need to turn 
down your gain a little bit. 

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00:09:33,800 --> 00:09:36,640
It's getting a little spiky. 
There we go. 

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00:09:36,640 --> 00:09:38,480
How's that Opti? 
Yeah, there we go. 

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00:09:38,480 --> 00:09:41,520
There we go. 
Makeshift studio in Puerto Rico.

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00:09:41,600 --> 00:09:45,360
Makeshift studio, Makeshift 
studio in Puerto Rico. 

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00:09:45,360 --> 00:09:48,560
And by the way, the power might 
be a little consistent here. 

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00:09:48,560 --> 00:09:51,880
So Opti might have to fill in 
for me, you know, 

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00:09:51,880 --> 00:09:56,440
instantaneously if I drop out. 
But I, I will say that, you 

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00:09:56,440 --> 00:09:59,760
know, Matt, I'm so glad that 
you, you came on today's show, 

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00:09:59,760 --> 00:10:03,800
because you can break down a 
little bit in regards to what 

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00:10:03,800 --> 00:10:05,640
Jack was saying. 
Like it. 

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00:10:05,680 --> 00:10:09,360
I don't think it's a coincidence
that, you know, the energy, like

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the the best performing things 
is energy and Bitcoin. 

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And I don't think they're, so I 
don't think it's a coincidence 

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00:10:14,800 --> 00:10:16,440
that they're so closely 
correlated. 

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00:10:17,760 --> 00:10:21,440
Yeah, no, I I completely agree. 
And I think, you know, this is a

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lot of people don't like this 
take that Sailor has. 

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I don't really understand why 
there is so much backlash 

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00:10:26,880 --> 00:10:29,160
against it. 
But when he says Bitcoin is 

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00:10:29,160 --> 00:10:32,000
energy, I really think this is 
what he's getting at, right, is 

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that Bitcoin is inexorably 
linked to energy. 

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00:10:35,640 --> 00:10:37,760
Without energy, you can't have 
Bitcoin. 

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00:10:38,080 --> 00:10:42,840
Bitcoin, you know, the proof of 
work consensus mechanism, it, it

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00:10:42,840 --> 00:10:45,800
literally ties it to energy and 
that's why it doesn't lose 

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00:10:45,800 --> 00:10:48,280
purchasing power in terms of 
energy, or it's part of it at 

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00:10:48,280 --> 00:10:50,560
least. 
Obviously scarcity. 

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00:10:50,560 --> 00:10:53,960
But yeah, I just think, you 
know, if you go all the way 

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00:10:53,960 --> 00:10:56,760
back, even till like Henry Ford 
talked about making an energy 

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00:10:56,760 --> 00:10:59,800
currency, right? 
Because anybody who really looks

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00:10:59,800 --> 00:11:04,080
into what makes modern society 
run, you cannot escape the fact 

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00:11:04,080 --> 00:11:07,840
that you have to expend energy 
to make modern society work. 

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00:11:07,840 --> 00:11:11,600
Our our modern society is built 
on the backbone of an energy 

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00:11:11,600 --> 00:11:15,320
grid and energy infrastructure 
that allows for each of us to 

195
00:11:15,360 --> 00:11:18,240
basically leverage more work 
day-to-day in our lives. 

196
00:11:18,240 --> 00:11:22,280
If you actually looked at in 
human labor terms, how much 

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00:11:22,280 --> 00:11:24,400
energy you're utilizing, it's 
ridiculous. 

198
00:11:24,400 --> 00:11:27,840
I mean, just a real quick like 
fun fact, right? 

199
00:11:27,840 --> 00:11:32,280
I, I row competitively and if 
you look at the wattage output 

200
00:11:32,280 --> 00:11:36,360
that I can do for about an hour,
I can make 200 watts on average,

201
00:11:36,440 --> 00:11:40,520
right? 
So I can make 1/5 of a kWh in an

202
00:11:40,520 --> 00:11:44,440
hour and I am dead, right. 
And then you look at, you know, 

203
00:11:44,760 --> 00:11:47,960
just toasting your bread is 
using more than that, right? 

204
00:11:48,280 --> 00:11:52,320
And if you think about that in 
human energy expenditure terms, 

205
00:11:52,320 --> 00:11:56,120
that all of a sudden it comes 
very clearly into view why it's 

206
00:11:56,120 --> 00:11:59,960
so important so. 
There's actually like a really 

207
00:11:59,960 --> 00:12:03,720
famous like graph that it that's
been making the rounds on 

208
00:12:03,720 --> 00:12:09,360
Twitter where it literally shows
you the prosperity of countries 

209
00:12:09,360 --> 00:12:11,880
and the amount of energy that 
they're using. 

210
00:12:12,200 --> 00:12:14,480
And it's like a direct 
correlation. 

211
00:12:14,480 --> 00:12:18,840
Like countries that use less 
energy are poorer, countries 

212
00:12:18,840 --> 00:12:21,280
that use more energy are 
wealthier. 

213
00:12:21,640 --> 00:12:24,240
And there's this whole like 
death cult movement. 

214
00:12:24,680 --> 00:12:27,000
Forgive me for like, I mean, 
isn't it true? 

215
00:12:27,280 --> 00:12:30,200
Like there's like a death cult 
movement happening all around 

216
00:12:30,200 --> 00:12:34,280
the world. 
Again, it's not everybody, but 

217
00:12:34,280 --> 00:12:37,560
it, it's definitely popped. 
You know, it's definitely gained

218
00:12:37,560 --> 00:12:40,880
popularity where they're like 
attacking energy usage. 

219
00:12:40,880 --> 00:12:43,600
They're they're it's like it 
like even if it's like green or 

220
00:12:43,600 --> 00:12:46,840
whatever, it's like like energy 
usage is bad. 

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00:12:46,840 --> 00:12:50,920
And I just see that as like 
isn't, is that not a a death 

222
00:12:50,920 --> 00:12:53,040
slash poverty cult? 
Like I can't. 

223
00:12:53,080 --> 00:12:54,240
I can't describe it in any 
other. 

224
00:12:54,320 --> 00:12:57,880
Well down on this anyone that 
wants you to use less energy 

225
00:12:57,880 --> 00:13:00,160
literally wants to take you back
to the stone ages. 

226
00:13:00,160 --> 00:13:03,080
Energy use is good and we're 
we're gonna definitely dive more

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00:13:03,080 --> 00:13:06,280
into that during the culture. 
But just kind of touching on 

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00:13:06,280 --> 00:13:08,960
what Jack Mueller, just saying, 
I forget where I first picked 

229
00:13:08,960 --> 00:13:13,000
this up, but once this thought 
really like sunk in it, it's 

230
00:13:13,000 --> 00:13:15,080
like it really changed my whole 
view on everything. 

231
00:13:15,080 --> 00:13:17,200
And it's exactly this like 
Bitcoin is energy. 

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00:13:17,200 --> 00:13:20,800
Once energy is priced in 
Bitcoin, that's when we know 

233
00:13:20,800 --> 00:13:23,600
Bitcoin is never going away. 
Like that's when the real, you 

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00:13:23,600 --> 00:13:26,680
know, hyper bitcoinization 
moment happened is when all 

235
00:13:26,680 --> 00:13:30,000
energy is priced in Bitcoin. 
You know, we control kind of in 

236
00:13:30,000 --> 00:13:32,400
in the naming of it. 
Once we move away from the Petro

237
00:13:32,400 --> 00:13:35,520
dollar to the petrosat, then 
things are really going to get 

238
00:13:35,520 --> 00:13:38,520
kicked into OverDrive. 
And and this, this Bitcoin thing

239
00:13:38,520 --> 00:13:42,080
is going to be like so obvious 
to everyone out there that this 

240
00:13:42,080 --> 00:13:43,640
is the way that the world should
be priced. 

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00:13:43,680 --> 00:13:46,720
Absolutely I'm bullish on the 
Petro SAT man, that sounds that 

242
00:13:46,720 --> 00:13:49,640
sounds funky. 
I like I like that name anyways,

243
00:13:49,640 --> 00:13:52,000
ladies and gentlemen, before we 
start the show, I do want to 

244
00:13:52,000 --> 00:13:53,600
give a shout out to our lead 
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245
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Bitcoin well is incredibly 
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on the exchange. 
Meaning when you buy Bitcoin on 

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clear, it goes straight to 

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yourself. 
Custody Bitcoin wallet address, 

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which perfectly aligns with the 
simply Bitcoin ethos of the 

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separation of money and state 
because after all, self custody 

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is the revolution. 
By the way, every time you buy 

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Bitcoin on Bitcoin Well, you 
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could redeem those points 
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contest for an opportunity to 
win U to 1,000,000 Satoshis, get

261
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your lightning wallets ready. 
We're going to do that right 

262
00:14:52,920 --> 00:14:54,680
now. 
Is it Opti? 

263
00:14:54,680 --> 00:14:56,600
Did you? 
Did we do this yesterday? 

264
00:14:56,800 --> 00:14:59,880
Yeah, so I was sitting here with
with Adam and I was trolling 

265
00:14:59,880 --> 00:15:02,240
him. 
Live and do it again. 

266
00:15:02,240 --> 00:15:03,920
Try it one more time. 
Apparently. 

267
00:15:03,920 --> 00:15:06,560
No, no, no, not earn points. 
You had to hit the 500 points. 

268
00:15:06,560 --> 00:15:08,160
You don't remember how? 
To do it, there you are but. 

269
00:15:08,160 --> 00:15:11,720
Apparently when it crashes it 
means someone is literally using

270
00:15:11,720 --> 00:15:14,560
that at the exact millisecond, 
so it just means a lot of. 

271
00:15:14,560 --> 00:15:17,560
People OK, boom. 
OK, first person to scan. 

272
00:15:17,560 --> 00:15:20,440
Thanks, Opti. 
First person to scan the QR code

273
00:15:20,880 --> 00:15:23,680
wins 500 SAS. 
I'll do it one more time for 

274
00:15:23,680 --> 00:15:26,560
good measure. 
Going to toss another coin into 

275
00:15:26,560 --> 00:15:31,480
the Bitcoin wishing well and 1st
person to scan the QR code wins 

276
00:15:31,480 --> 00:15:34,840
another 500 sats. 
By the way, this is a contest, 

277
00:15:34,840 --> 00:15:38,320
so you have an opportunity to 
win up to 1,000,000 to Toshi's 

278
00:15:38,680 --> 00:15:41,960
every time you toss a coin into 
the Bitcoin Wishing well only on

279
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bitcoinwell.com. 
And if you use promo code Simply

280
00:15:45,800 --> 00:15:51,440
BTC to sign up, you get 3 tosses
into the Bitcoin Wishing well 

281
00:15:51,600 --> 00:15:54,320
absolutely free. 
All right everybody, let's get 

282
00:15:54,320 --> 00:15:58,800
to the numbers. 
Lots to talk about the Bitcoin 

283
00:15:58,800 --> 00:16:03,520
numbers, right? 
Ladies and gentlemen, you want 

284
00:16:03,520 --> 00:16:07,240
to make it over the finish line 
with your generational wealth. 

285
00:16:07,240 --> 00:16:11,240
And the way that you do that is 
by properly storing your 

286
00:16:11,840 --> 00:16:14,120
Bitcoin. 
And the way that you do that is 

287
00:16:14,560 --> 00:16:16,960
when you get a hardware wallet, 
usually it comes with a little 

288
00:16:16,960 --> 00:16:19,840
piece of paper and the piece of 
paper is labeled. 

289
00:16:19,840 --> 00:16:22,600
It has one through 24 words, 
right? 

290
00:16:24,200 --> 00:16:26,720
You don't want to do that. 
You don't want to put down your 

291
00:16:26,720 --> 00:16:28,640
generational wealth on a piece 
of paper. 

292
00:16:28,640 --> 00:16:31,360
Paper is prone to fire damage, 
water damage. 

293
00:16:31,360 --> 00:16:35,240
Your dog could literally eat it.
So what you want to do is you 

294
00:16:35,240 --> 00:16:39,240
want to take a step above that. 
We've seen the steel kits. 

295
00:16:39,640 --> 00:16:42,440
This is titanium. 
You literally want a proof of 

296
00:16:42,440 --> 00:16:46,240
work. 
Stamp your seed into a titanium 

297
00:16:46,240 --> 00:16:49,960
seed for a storage kit. 
You literally hammer the 

298
00:16:50,000 --> 00:16:54,160
individual letters into a piece 
of titanium, one of the 

299
00:16:54,160 --> 00:16:56,560
strongest metals on planet 
Earth. 

300
00:16:56,760 --> 00:16:59,880
It is literally fireproof. 
It's waterproof. 

301
00:17:00,040 --> 00:17:03,000
Your dog's probably not going to
want to eat it, and if it does, 

302
00:17:03,000 --> 00:17:04,520
it's probably going to break its
teeth. 

303
00:17:04,760 --> 00:17:08,680
So this thing is made to last. 
This is how you should store 

304
00:17:08,680 --> 00:17:13,079
your generational wealth and if 
you use promo code simply you 

305
00:17:13,079 --> 00:17:18,240
get 15% off the Stamp Seed 
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306
00:17:18,440 --> 00:17:22,520
So head over to stampse-ed.com 
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307
00:17:22,640 --> 00:17:26,440
to get a 15% discount. 
Hey, Nico, Nico, you got to turn

308
00:17:26,440 --> 00:17:27,839
your game down a little bit, 
bro. 

309
00:17:27,920 --> 00:17:29,680
A little more, a little more, a 
little more it. 

310
00:17:29,680 --> 00:17:31,040
Gets a little. 
How about now? 

311
00:17:31,120 --> 00:17:33,000
Are we good? 
Maybe maybe a little more, maybe

312
00:17:33,000 --> 00:17:36,200
a little more. 
This is pretty low. 

313
00:17:36,480 --> 00:17:37,320
There you go. 
Whatever. 

314
00:17:37,320 --> 00:17:39,360
I'll turn you up over here. 
All right cool. 

315
00:17:39,960 --> 00:17:41,960
At the time of recording the 
it's probably because I'm 

316
00:17:42,000 --> 00:17:44,560
speaking straight into the mic. 
At the time of recording, the 

317
00:17:44,560 --> 00:17:55,080
Bitcoin price is 59,770 sats per
dollar 1673 block height 857,783

318
00:17:55,280 --> 00:18:01,960
blocks to having 192,217 having 
estimate March 28th, 2028 total 

319
00:18:01,960 --> 00:18:06,760
lightning network capacity for 4
million, you know 4801 BTC 

320
00:18:06,960 --> 00:18:11,760
capacity value 287,000,000 
realized monetary inflation 

321
00:18:11,760 --> 00:18:18,760
1.43% market capitalization 1.18
trillion Bitcoin versus gold 

322
00:18:18,760 --> 00:18:23,680
market cap 6.82%. 
And the grand scheme of things, 

323
00:18:23,680 --> 00:18:26,080
we are just getting started 
anyways. 

324
00:18:26,080 --> 00:18:29,400
One of the central themes of 
this show is not only the 

325
00:18:29,400 --> 00:18:32,840
disintermediation of of of 
money, but also the 

326
00:18:32,840 --> 00:18:38,000
disintermediation of information
and the general idea that you 

327
00:18:38,000 --> 00:18:39,560
guys have to get through your 
heads. 

328
00:18:39,560 --> 00:18:42,760
And if you've been tuning into 
the show or if you've just been 

329
00:18:43,200 --> 00:18:47,200
paying attention to what's been 
happening, is the government or 

330
00:18:47,200 --> 00:18:50,960
governments were not prepared 
for social media. 

331
00:18:51,200 --> 00:18:55,400
They weren't prepared for 
millions upon millions of people

332
00:18:55,560 --> 00:18:59,560
communicating directly amongst 
each other. 

333
00:18:59,840 --> 00:19:03,320
They weren't ready for 
individuals building up huge 

334
00:19:03,320 --> 00:19:08,560
platforms by themselves and 
being able to say things that 

335
00:19:08,560 --> 00:19:11,680
perhaps don't fit the official 
party line. 

336
00:19:12,320 --> 00:19:16,560
One of the things that you know 
is a highlight of this is the 

337
00:19:16,880 --> 00:19:20,360
latest Trump and Elon interview 
on X. 

338
00:19:20,640 --> 00:19:24,400
You literally see all the legacy
media outlets not even 

339
00:19:24,400 --> 00:19:28,960
commenting on the substance of 
the conversation, but just a 

340
00:19:29,240 --> 00:19:32,240
character attacking Elon and 
Trump, right? 

341
00:19:32,440 --> 00:19:36,480
It's like, what is the, it's 
like, I didn't, I didn't 

342
00:19:36,840 --> 00:19:39,560
subscribe to the New York Times 
to get your opinion on their 

343
00:19:39,560 --> 00:19:41,320
personalities. 
I subscribe to the New York 

344
00:19:41,320 --> 00:19:43,400
Times so you can tell me what 
the F they said. 

345
00:19:43,600 --> 00:19:45,640
That's the whole point of a news
organization. 

346
00:19:46,040 --> 00:19:49,440
And I think one of the things 
that like really highlighted 

347
00:19:49,440 --> 00:19:54,880
that was the the the rise of 
popularity of social media. 

348
00:19:55,600 --> 00:19:58,800
It's not a coincidence that X is
the most popular news app. 

349
00:19:58,800 --> 00:20:02,520
People are tuning out of the 
regular media sources. 

350
00:20:03,000 --> 00:20:07,600
And just like the financial 
system, governments always hoped

351
00:20:07,880 --> 00:20:11,320
that there was going to be a 
handful of intermediaries they 

352
00:20:11,320 --> 00:20:14,800
can Co opt in the case of media,
think about it. 

353
00:20:15,520 --> 00:20:18,720
There's like, really like 12 
notable newspapers in the United

354
00:20:18,720 --> 00:20:21,120
States. 
Before the Internet, maybe there

355
00:20:21,120 --> 00:20:24,560
was like 50 TV channels, of 
which maybe five are news 

356
00:20:24,560 --> 00:20:26,960
channels. 
That's only like a handful of 

357
00:20:26,960 --> 00:20:30,840
people that you can Co opt and 
you can like knock on the door 

358
00:20:30,840 --> 00:20:34,560
and say, hey, look, I'll give 
you special coverage if you 

359
00:20:34,560 --> 00:20:37,080
choose to cover the news a 
certain way. 

360
00:20:37,400 --> 00:20:39,480
And there's actually a 
historical precedent. 

361
00:20:39,920 --> 00:20:44,160
Back when the United States 
invaded Iraq, the New York Times

362
00:20:44,160 --> 00:20:47,640
came out with an article, and I 
believe that the author actually

363
00:20:47,640 --> 00:20:51,480
won like a prize for this and 
everything that Iraq had weapons

364
00:20:51,480 --> 00:20:54,680
of mass destruction. 
It came out after the fact, like

365
00:20:54,680 --> 00:21:00,480
five years later, that that was 
actually information being fed 

366
00:21:00,480 --> 00:21:02,880
to her by the intelligence 
agencies. 

367
00:21:03,480 --> 00:21:07,480
Moving forward, a couple years 
later, it's those same media 

368
00:21:07,480 --> 00:21:10,960
outlets, the New York Times, The
Wall Street Journal, that are 

369
00:21:10,960 --> 00:21:14,840
releasing hit pieces on Bitcoin.
The New York Times released that

370
00:21:14,840 --> 00:21:18,680
hit piece where they like, 
manipulated the color of the sky

371
00:21:18,880 --> 00:21:22,920
over a mining facility as if 
miners release like, gas or 

372
00:21:22,920 --> 00:21:24,360
something. 
It's just hot air. 

373
00:21:24,880 --> 00:21:27,640
But of course, they're trying to
sell the public on a narrative. 

374
00:21:27,880 --> 00:21:31,800
And then the Wall Street Journal
article where it was like 

375
00:21:31,800 --> 00:21:36,040
Elizabeth Warren and Co tried to
convince the American public 

376
00:21:36,040 --> 00:21:40,840
that Hamas was using Bitcoin in 
order to circumvent U.S. 

377
00:21:40,840 --> 00:21:44,800
sanctions and launder money. 
It was only after the reaction 

378
00:21:44,800 --> 00:21:50,160
from the online community, 
Twitter and Noster that we 

379
00:21:50,160 --> 00:21:52,840
called bullshit and we said no, 
that's not true. 

380
00:21:53,000 --> 00:21:55,760
Most terrorist financing is done
through the traditional 

381
00:21:55,760 --> 00:21:58,200
financial system. 
You're not being honest and 

382
00:21:58,200 --> 00:22:01,040
sincere in your arguments. 
What you really want is to 

383
00:22:01,040 --> 00:22:03,120
create a monopoly for a central 
bank. 

384
00:22:03,120 --> 00:22:06,360
Digital currency, and it always 
reminds me of this Buchele 

385
00:22:06,360 --> 00:22:08,200
article, and I reference it all 
the time. 

386
00:22:08,200 --> 00:22:11,240
I'm going to read the last line.
This is Buchele writing for 

387
00:22:11,240 --> 00:22:13,200
Bitcoin Magazine for the audio 
listeners. 

388
00:22:13,720 --> 00:22:17,040
They're willing to fight, lie, 
smear, destroy, censor, 

389
00:22:17,040 --> 00:22:19,920
confiscate, print and do 
whatever it takes to maintain 

390
00:22:19,920 --> 00:22:24,000
and increase their control over 
the truth and everything and 

391
00:22:24,000 --> 00:22:26,320
everyone. 
Which is why we always talk 

392
00:22:26,320 --> 00:22:30,640
about on Simply Bitcoin. 
This is narrative trench warfare

393
00:22:30,800 --> 00:22:32,880
on the battlegrounds of the 
Internet. 

394
00:22:32,880 --> 00:22:37,040
These are battles of narratives.
1 narrative of truth and one 

395
00:22:37,040 --> 00:22:39,840
narrative of lies. 
And here's the thing, because 

396
00:22:39,840 --> 00:22:43,720
our system is based on 
incentives, the Bitcoin system 

397
00:22:44,040 --> 00:22:46,520
and their system is based on 
coercion. 

398
00:22:46,760 --> 00:22:52,200
They have to control the, they 
have to control the narrative in

399
00:22:52,200 --> 00:22:55,560
order to sigh up people into 
thinking that money somehow has 

400
00:22:55,560 --> 00:22:58,200
to lose purchasing power in 
order to function. 

401
00:22:58,560 --> 00:23:01,400
Here is another kind of original
tweet that I had. 

402
00:23:01,560 --> 00:23:05,160
When you know, the, the, the 
Trump and Elon interview 

403
00:23:05,160 --> 00:23:06,680
happened. 
One of the things that you 

404
00:23:06,680 --> 00:23:10,000
noticed is it was authentic. 
It was off the cuff. 

405
00:23:10,080 --> 00:23:12,440
It was literally a conversation 
and it was organic. 

406
00:23:12,440 --> 00:23:14,760
It literally felt like a phone 
call. 

407
00:23:14,760 --> 00:23:18,840
Now, one of the things that 
we've been covering is this 

408
00:23:18,840 --> 00:23:22,600
gentleman by the name of Mike 
Benz, He did a great interview 

409
00:23:22,720 --> 00:23:27,160
on Tucker Carlson a while back, 
basically making the case that 

410
00:23:27,720 --> 00:23:31,040
the government was not prepared 
for social media and how social 

411
00:23:31,040 --> 00:23:35,040
media was actually being used as
a tool by the intelligence 

412
00:23:35,040 --> 00:23:39,120
agencies to change regimes all 
around the world. 

413
00:23:39,280 --> 00:23:43,080
They had no idea that it was 
going to backfire. 

414
00:23:43,320 --> 00:23:46,840
So they're trying to take back 
control of the narrative. 

415
00:23:46,960 --> 00:23:50,760
And here's a clip from Natalie 
Winters interviewing Mike Benz 

416
00:23:50,920 --> 00:23:53,120
talking about some of the things
that they're doing. 

417
00:23:53,120 --> 00:23:54,600
It's about a three to four 
minute clip. 

418
00:23:55,080 --> 00:23:58,200
Welcome back to the War Room, 
home of a misinformation, 

419
00:23:58,200 --> 00:24:02,000
disinformation and so much more.
I'm sure with the entity 

420
00:24:02,000 --> 00:24:04,040
organization. 
We're about to unpack with Mike 

421
00:24:04,360 --> 00:24:07,000
Benz shortly. 
We probably get a very low 

422
00:24:07,000 --> 00:24:10,280
rating from them, but I'm 
honored to be on the receiving 

423
00:24:10,280 --> 00:24:12,760
end of that. 
But Mike, you guys have a great 

424
00:24:12,760 --> 00:24:15,240
new report up at the Foundation 
for Freedom Online. 

425
00:24:15,240 --> 00:24:17,760
Walking through this, you know, 
media literacy, again, one of 

426
00:24:17,760 --> 00:24:19,040
these weird euphemists, classic 
terms. 

427
00:24:19,040 --> 00:24:21,840
They love to use groups. 
That's, per the headline, 

428
00:24:21,840 --> 00:24:25,200
operating in over 90% of 
American classrooms. 

429
00:24:25,200 --> 00:24:27,000
They're targeting the children. 
Imagine that. 

430
00:24:27,480 --> 00:24:29,320
Can you walk the audience 
through the new report? 

431
00:24:30,240 --> 00:24:33,440
Yes, Natalie, this is a very 
important topic called media 

432
00:24:33,440 --> 00:24:35,720
literacy. 
And if you haven't heard that 

433
00:24:35,720 --> 00:24:38,440
that term before, you're going 
to be hearing a lot more about 

434
00:24:38,440 --> 00:24:40,240
it in the months and years 
ahead. 

435
00:24:40,240 --> 00:24:44,240
It is a major initiative by 
effectively rogue elements of 

436
00:24:44,240 --> 00:24:48,760
the US government to institute a
North Korea style control over 

437
00:24:48,760 --> 00:24:53,440
the news programming that 
children and adults later in 

438
00:24:53,440 --> 00:24:56,120
life experience. 
Basically, after Trump won the 

439
00:24:56,120 --> 00:25:01,160
2016 election, the BLOB decided 
that they lost because there was

440
00:25:01,160 --> 00:25:04,840
too much alternative news. 
There were too many Bannon war 

441
00:25:04,840 --> 00:25:08,600
rooms around, too many 
Breitbart's or Oans or Gateway 

442
00:25:08,600 --> 00:25:12,040
pundits or you name it. 
And the the poor little New York

443
00:25:12,040 --> 00:25:14,960
Times Times in Washington Post, 
we're getting out flanked by all

444
00:25:14,960 --> 00:25:19,680
this mean, you know, nasty 
misinformation and alternative 

445
00:25:19,680 --> 00:25:22,560
opinions on the Internet. 
And so they came together and 

446
00:25:22,840 --> 00:25:26,200
came up with this branding 
device called media literacy in 

447
00:25:26,200 --> 00:25:28,600
order to launder their control 
back in. 

448
00:25:28,840 --> 00:25:31,760
Now, you know, when you hear the
phrase media literacy, you think

449
00:25:31,760 --> 00:25:36,200
that means underprivileged inner
city school kids being turned 

450
00:25:36,440 --> 00:25:39,040
taught how to, you know, become 
literate and reading the news. 

451
00:25:39,040 --> 00:25:42,480
That is not what it means. 
Media literacy means if you 

452
00:25:42,480 --> 00:25:46,800
don't read the right media 
sources, you are deemed to be 

453
00:25:46,800 --> 00:25:49,240
illiterate and you need to get 
your mind right. 

454
00:25:49,720 --> 00:25:53,840
And so there's now been over a 
dozen US state U.S. states since

455
00:25:53,840 --> 00:25:59,080
2016 that have passed mandatory 
media literacy laws requiring K 

456
00:25:59,080 --> 00:26:02,560
through 12 students in the in 
those states public schools to 

457
00:26:02,720 --> 00:26:06,800
take media literacy courses to 
be trained about what they can 

458
00:26:06,800 --> 00:26:09,440
and can't read and what they can
and can't cite. 

459
00:26:09,680 --> 00:26:11,920
So if you're familiar with 
Wikipedia for example, the 

460
00:26:11,920 --> 00:26:15,640
reason that it's such a 
dystopic, you know, Soviet style

461
00:26:15,640 --> 00:26:16,680
information all. 
Right. 

462
00:26:16,680 --> 00:26:19,560
I'm going to stop it right there
and just kind of pass it on to 

463
00:26:19,640 --> 00:26:21,800
the panel just to have a 
discussion about this. 

464
00:26:21,800 --> 00:26:25,680
Like this is nuts. 
Like public schools, like not in

465
00:26:25,680 --> 00:26:30,520
all states, just 12 states are 
literally force feeding children

466
00:26:30,520 --> 00:26:37,200
basically saying the New York 
Times, OK, CNN, OK, online media

467
00:26:37,280 --> 00:26:41,760
bad. 
Like I thought we lived in 

468
00:26:41,760 --> 00:26:44,640
America. 
Like what is this stuff? 

469
00:26:45,120 --> 00:26:48,840
This is bat shit crazy. 
This is insane. 

470
00:26:49,200 --> 00:26:52,680
And this is this is what I was 
talking about when I said that 

471
00:26:52,680 --> 00:26:56,800
the Internet was not that the 
government was not controlled 

472
00:26:56,920 --> 00:27:00,440
for mass scale peer-to-peer 
communications. 

473
00:27:00,880 --> 00:27:05,160
And this is what Buchele is was 
talking about in his article, 

474
00:27:05,160 --> 00:27:08,360
that their most important weapon
is their control on the truth. 

475
00:27:08,720 --> 00:27:12,800
And you see them scrambling and 
wiggling and it doesn't even 

476
00:27:12,800 --> 00:27:15,720
matter. 
Like if they've thrown out all 

477
00:27:15,720 --> 00:27:19,160
the norms of what, you know, 
freedom of speech should 

478
00:27:19,160 --> 00:27:22,480
represent in the United States. 
And now all of a sudden you have

479
00:27:22,480 --> 00:27:26,680
the government dictating in 
public schools in the US what 

480
00:27:26,680 --> 00:27:30,440
information students should 
consume and what information 

481
00:27:30,440 --> 00:27:33,680
students shouldn't consume. 
And I get what a lot of you guys

482
00:27:33,680 --> 00:27:36,480
may be thinking, like, Nico, 
this is a Bitcoin show. 

483
00:27:36,480 --> 00:27:38,880
Like, why are we talking about 
Freedom of Information? 

484
00:27:39,320 --> 00:27:44,040
It goes hand in hand because 
without freedom of speech, 

485
00:27:44,040 --> 00:27:47,280
without these, without the 
ability to have this type of 

486
00:27:47,280 --> 00:27:53,480
discourse, we cannot wake people
up to the scam of Fiat money. 

487
00:27:53,800 --> 00:27:57,560
People have been psyopped into 
thinking that money needs to 

488
00:27:57,560 --> 00:28:00,800
lose purchasing power in order 
to function. 

489
00:28:01,000 --> 00:28:04,720
And the way that you combat that
is on the battlegrounds of the 

490
00:28:04,720 --> 00:28:07,600
Internet narrative. 
Trench warfare, literally 

491
00:28:07,600 --> 00:28:10,000
winning over the hearts and 
minds of people. 

492
00:28:10,240 --> 00:28:14,440
But what happens when and they 
indoctrinate people very, very 

493
00:28:14,440 --> 00:28:19,400
early on to literally say like, 
look, CNN said inflation is a 

494
00:28:19,400 --> 00:28:22,760
good thing. 
CNN said inflation is necessary.

495
00:28:22,840 --> 00:28:26,280
Or I only could read Paul 
Krueger. 

496
00:28:26,280 --> 00:28:29,560
That's what they told me. 
Or I'm information illiterate 

497
00:28:29,600 --> 00:28:33,320
right to use their wording and 
then they'll tune out 

498
00:28:33,400 --> 00:28:36,920
alternative media sources. 
Why are they so scared of 

499
00:28:36,920 --> 00:28:41,760
alternative media sources? 
Because if you can't combat an 

500
00:28:41,760 --> 00:28:46,800
idea with argument, the next 
step is censorship. 

501
00:28:47,240 --> 00:28:49,080
And that's what they're relying 
on. 

502
00:28:49,200 --> 00:28:52,040
They don't have any more good 
arguments anymore. 

503
00:28:52,200 --> 00:28:54,840
So they're they're just like, 
OK, you know what? 

504
00:28:55,000 --> 00:28:57,200
We just can't have this 
discussion period. 

505
00:28:57,440 --> 00:29:00,200
Like we just got a censor their 
speech 100%. 

506
00:29:00,560 --> 00:29:03,360
That is very scary. 
And I think it's something to 

507
00:29:03,640 --> 00:29:06,400
definitely, definitely point 
out. 

508
00:29:06,920 --> 00:29:10,200
And This is why the rise of 
independent content creators is 

509
00:29:10,200 --> 00:29:13,120
so important, Like simply 
Bitcoin, like your favorite 

510
00:29:13,120 --> 00:29:16,840
independent content creators. 
We need more of that, not less 

511
00:29:16,840 --> 00:29:19,200
of that. 
Because what the last five years

512
00:29:19,200 --> 00:29:22,680
have shown is that the legacy 
media that are supposedly 

513
00:29:22,680 --> 00:29:25,720
professional journalists aren't 
journalists. 

514
00:29:25,920 --> 00:29:29,920
They've sure acted like more so 
like propagandists than 

515
00:29:29,920 --> 00:29:32,080
journalists. 
It seems like the dudes that 

516
00:29:32,080 --> 00:29:34,520
just buy a camera and a 
microphone on the Internet have 

517
00:29:34,520 --> 00:29:37,360
been doing a better job 
reporting on shit than the 

518
00:29:37,360 --> 00:29:40,160
legacy media. 
That's my opinion anyways. 

519
00:29:40,160 --> 00:29:41,760
Matt, do you think I'm wrong 
here? 

520
00:29:41,760 --> 00:29:44,600
You know, you're a macro guy. 
Maybe what we're saying is 

521
00:29:44,600 --> 00:29:48,120
extremist, but like, dude, like,
that's crazy. 

522
00:29:48,120 --> 00:29:51,280
Like media literacy. 
Like what does that even mean? 

523
00:29:53,360 --> 00:29:56,880
Yeah, I, you know, it's 
interesting you talked about 

524
00:29:56,880 --> 00:29:59,840
analogs to to history. 
The first thing that always 

525
00:29:59,840 --> 00:30:03,120
comes to mind whenever I hear 
about censorship and the 

526
00:30:03,120 --> 00:30:06,960
response that's come from 
governments or Central 

527
00:30:06,960 --> 00:30:11,320
Intelligence agencies across the
globe is it's a very similar 

528
00:30:11,320 --> 00:30:14,920
impulse to what happened when 
the printing press was invented 

529
00:30:14,960 --> 00:30:18,320
and unleashed on the world. 
And I know that's not a novel 

530
00:30:18,320 --> 00:30:21,520
idea to me, but it's just you 
can't escape it. 

531
00:30:21,520 --> 00:30:24,800
Once you see that parallel, it's
just so obvious, right? 

532
00:30:24,800 --> 00:30:28,080
Where the church used to be the 
source of truth, they had a 

533
00:30:28,080 --> 00:30:30,640
monopoly on it. 
Everybody had to come to them 

534
00:30:30,640 --> 00:30:32,640
and their priests for the source
of truth. 

535
00:30:33,000 --> 00:30:37,120
And if you didn't basically buy 
into it, then you were a heretic

536
00:30:37,120 --> 00:30:39,920
and you would be literally 
killed, right? 

537
00:30:40,080 --> 00:30:44,520
And while they can't exactly 
burn you at the stake now, they 

538
00:30:44,640 --> 00:30:47,320
they burn you at the digital 
stake, which is censor you, 

539
00:30:47,800 --> 00:30:51,800
deplatform you, remove you from 
discourse, which in the modern 

540
00:30:51,800 --> 00:30:54,360
world is effectively you've been
killed, right? 

541
00:30:55,800 --> 00:30:58,040
And so to me, that's exactly 
what this is, right? 

542
00:30:58,040 --> 00:31:01,120
Is only our priests can be the 
source of truth. 

543
00:31:01,520 --> 00:31:04,000
We we have the word of God, 
right? 

544
00:31:04,240 --> 00:31:08,000
And the word of God is whatever,
you know, your local bureaucrat 

545
00:31:08,000 --> 00:31:12,480
decides it is that day. 
And it's the exact same impulse 

546
00:31:12,480 --> 00:31:15,120
that was around, you know, 
thousands of years ago. 

547
00:31:15,120 --> 00:31:18,600
So I think it's human nature. 
And I think we're just in that 

548
00:31:18,600 --> 00:31:24,040
cycle of the redistribution and 
decentralization of the sources 

549
00:31:24,040 --> 00:31:26,120
of, of what's actually going on 
in the world. 

550
00:31:26,120 --> 00:31:28,600
And I view it as a really 
positive thing. 

551
00:31:28,680 --> 00:31:31,440
And I think obviously we're all 
living through a tumultuous 

552
00:31:31,720 --> 00:31:35,320
time, but for for me, it's, it's
an optimistic time because these

553
00:31:35,320 --> 00:31:37,840
tools actually exist for us to 
take advantage of. 

554
00:31:37,840 --> 00:31:41,600
So, you know, that's one of the 
main reasons that I'm out here 

555
00:31:41,600 --> 00:31:44,200
just trying to have 
conversations with with anybody 

556
00:31:44,200 --> 00:31:47,640
who's willing to engage, right? 
It's like we actually have 

557
00:31:47,640 --> 00:31:50,440
control over the narrative now. 
And I'm not going to go to my 

558
00:31:50,440 --> 00:31:55,560
local priest, AKACNN to decide 
what my opinions are. 

559
00:31:56,840 --> 00:32:01,320
I I love that how you made that 
connection because that, like 

560
00:32:01,320 --> 00:32:04,040
that's one of the cases that 
we've been making on, on the 

561
00:32:04,040 --> 00:32:07,680
show, one of the central themes,
which is the, this is the 

562
00:32:07,680 --> 00:32:10,920
separation of money and state. 
And you just brought up the 

563
00:32:10,920 --> 00:32:13,760
separation of church and state. 
Like that was one of the reasons

564
00:32:13,760 --> 00:32:17,240
that that happened was that 
people were like, wait, like it 

565
00:32:17,360 --> 00:32:19,840
like with Galileo, it's like, 
no, no, no, no, like you 

566
00:32:19,840 --> 00:32:23,440
understand the planets, it's 
like revolve around the sun. 

567
00:32:23,440 --> 00:32:26,280
That's kind of how it works. 
And they're like heretic, you 

568
00:32:26,280 --> 00:32:30,520
know, like that guy, you know, 
goes to jail and it and again, 

569
00:32:30,520 --> 00:32:33,600
it I, I don't even think it's a 
it's a religious thing or like, 

570
00:32:33,600 --> 00:32:35,640
you know, a God thing or any of 
that stuff. 

571
00:32:36,040 --> 00:32:40,360
It just has to do with, like, 
the free market of ideas and 

572
00:32:40,360 --> 00:32:44,320
discussion is a good thing. 
That's how truth is discovered. 

573
00:32:44,320 --> 00:32:47,640
Like, that's how it should work.
There shouldn't be a 

574
00:32:47,640 --> 00:32:52,600
bureaucratic elite or a papal 
elite or a priest elite that get

575
00:32:52,600 --> 00:32:56,760
to dictate what the truth is for
everybody else, because that 

576
00:32:56,760 --> 00:32:58,800
system fundamentally gets 
corrupted. 

577
00:32:58,800 --> 00:33:02,600
That's a lot of power in the 
hands of a few people and 

578
00:33:02,600 --> 00:33:06,160
history has shown that absolute 
power corrupts absolutely. 

579
00:33:06,600 --> 00:33:09,520
And the last five years have 
shown that. 

580
00:33:09,520 --> 00:33:11,880
You know, guys, I got it. 
Look, unless you've been 

581
00:33:11,880 --> 00:33:16,720
completely tuned in, tuned out 
of the media whatsoever, TuneIn 

582
00:33:16,880 --> 00:33:20,840
to legacy media and hear that 
there was like just not to get 

583
00:33:20,840 --> 00:33:24,520
into the the pandemic stuff, but
it's like there is no inflation.

584
00:33:25,080 --> 00:33:28,360
There's gonna be no inflation. 
It's the supply chains. 

585
00:33:28,800 --> 00:33:32,720
It's Putin. 
It's, you know, if you say that 

586
00:33:32,720 --> 00:33:36,680
there's inflation, it's 
disinformation like, you know, 

587
00:33:37,160 --> 00:33:40,000
and then all of a sudden, like 
when they couldn't deny it 

588
00:33:40,000 --> 00:33:43,920
anymore, Janet Yellen goes on TV
and she's like, I was wrong 

589
00:33:43,920 --> 00:33:48,200
about inflation. 
Meanwhile, the hivemind of 

590
00:33:48,200 --> 00:33:52,560
Bitcoin, Twitter was calling it 
for two years that there was 

591
00:33:52,560 --> 00:33:55,560
going to be inflation because 
it's common sense. 

592
00:33:55,560 --> 00:33:58,200
They're obviously debasing the 
currency. 

593
00:33:58,360 --> 00:34:00,920
They're printing records amount 
of money. 

594
00:34:01,520 --> 00:34:03,360
Obviously that's going to 
happen. 

595
00:34:03,520 --> 00:34:08,000
But if you were to listen to 
the, you know, the appropriate 

596
00:34:08,000 --> 00:34:13,400
sources, if you have media 
literacy to use their words, you

597
00:34:13,400 --> 00:34:14,760
would have gotten absolutely 
wrecked. 

598
00:34:14,760 --> 00:34:18,320
You would be like, Oh my God, no
one knew that how, how like God 

599
00:34:18,320 --> 00:34:20,080
forbid this. 
This could have never happened. 

600
00:34:20,080 --> 00:34:23,400
Anyways, Opti, what's your take 
on this brother Mike bends, bro,

601
00:34:23,400 --> 00:34:25,360
coming in with the fire. 
I love his takes. 

602
00:34:25,600 --> 00:34:29,239
Yeah, well, first of all, highly
recommend everyone go listen or 

603
00:34:29,239 --> 00:34:31,320
rather follow Mike Bend on 
Twitter. 

604
00:34:31,320 --> 00:34:33,760
He's becoming one of my favorite
Twitter accounts. 

605
00:34:34,320 --> 00:34:38,280
He's got a very like autistic 
tinge to everything he's capable

606
00:34:38,280 --> 00:34:41,360
of talking about, like naming 
names and connecting dots, which

607
00:34:41,360 --> 00:34:45,600
you just love to see. 
Obviously my I I can't connect 

608
00:34:45,600 --> 00:34:47,360
all the names off the top of my 
head. 

609
00:34:47,360 --> 00:34:50,040
I have to, you know, go in and 
do the research and kind of 

610
00:34:50,040 --> 00:34:52,080
literally like with lines 
connected, but Mike Bend is able

611
00:34:52,080 --> 00:34:54,440
to. 
But my thoughts on this is 

612
00:34:54,440 --> 00:34:56,600
pretty simple. 
Like, am I surprised? 

613
00:34:56,600 --> 00:35:00,680
No, I think everyone, at least 
everyone in our audience, but 

614
00:35:00,760 --> 00:35:02,680
two people that maybe are newer 
here. 

615
00:35:02,800 --> 00:35:05,680
This might be surprising that, 
you know, the the corporate 

616
00:35:05,680 --> 00:35:08,520
press is biased. 
I, I think if, if you are a 

617
00:35:08,520 --> 00:35:13,040
Bitcoiner, you've realized this 
for a while now, that of course 

618
00:35:13,160 --> 00:35:16,440
the media is biased. 
It's very obvious that they're 

619
00:35:16,440 --> 00:35:18,800
biased. 
I think that the next step for 

620
00:35:18,800 --> 00:35:21,960
most people is what Mike Pence 
is doing, which is opening 

621
00:35:21,960 --> 00:35:25,600
people's eyes to this, this 
extension of whatever you want 

622
00:35:25,600 --> 00:35:28,440
to call it, the deep state, the 
swamp, the administrative state,

623
00:35:28,680 --> 00:35:32,120
the federal government, that the
media is an extension of 

624
00:35:32,120 --> 00:35:34,720
whatever powers that be, however
you want to name it. 

625
00:35:34,920 --> 00:35:37,560
It's becoming very clear that 
they are just propaganda wings 

626
00:35:37,560 --> 00:35:40,080
for the government and they're 
not real journalists. 

627
00:35:40,200 --> 00:35:43,760
But this is where I think the 
mantra of bit corners of don't 

628
00:35:43,760 --> 00:35:47,040
trust verify is going to become 
one of the most important memes 

629
00:35:47,040 --> 00:35:49,080
for us. 
Not only the 21 million, also, 

630
00:35:49,080 --> 00:35:51,760
you know, Happy Infinity Day or 
everything divided by 21 

631
00:35:51,760 --> 00:35:53,520
million. 
It's 8/8/21. 

632
00:35:54,200 --> 00:35:57,560
Yeah, exactly. 
You know, that meme of 21 

633
00:35:57,560 --> 00:36:01,400
million, the hard cap of Bitcoin
and don't trust verify are 

634
00:36:01,400 --> 00:36:04,440
becoming the central memes. 
And of course, for people that 

635
00:36:04,440 --> 00:36:07,680
want to learn and, and how to 
behave the best in Bitcoin is 

636
00:36:07,680 --> 00:36:09,360
stay humble stacks at stay 
solvent. 

637
00:36:09,360 --> 00:36:12,400
Like these memes are becoming 
very powerful because you're 

638
00:36:12,400 --> 00:36:15,160
realizing that the legacy media 
is completely biased. 

639
00:36:15,160 --> 00:36:17,920
They're bought and sold. 
And if you're still trusting or 

640
00:36:18,000 --> 00:36:21,240
you know, trusting the official 
sources, then you're, you're 

641
00:36:21,240 --> 00:36:24,120
basically being lied to. 
And you're at this point 

642
00:36:24,120 --> 00:36:28,000
probably willingly being lied to
because you you have to dig your

643
00:36:28,000 --> 00:36:31,840
head in the sand to not realize 
that the legacy press is is 

644
00:36:31,840 --> 00:36:33,960
bought and sold. 
I'll put I'll push back there. 

645
00:36:33,960 --> 00:36:36,640
I'll push back there. 
I'll say like because it it's 

646
00:36:36,640 --> 00:36:39,880
like I I like that's such a it's
like Opti. 

647
00:36:39,880 --> 00:36:44,000
I agree with you, but it's kind 
of like what I would say is 

648
00:36:44,000 --> 00:36:48,320
instead of like, like defaulting
to the legacy media is lying to 

649
00:36:48,320 --> 00:36:51,320
you. 
Like don't trust us. 

650
00:36:51,320 --> 00:36:55,560
Like don't trust what me and us 
you have to say trust like go 

651
00:36:55,560 --> 00:36:59,480
and like, do your like, watch 
what the legacy media is saying.

652
00:36:59,560 --> 00:37:03,720
Do your own research, do your 
research on Twitter, do your own

653
00:37:03,720 --> 00:37:06,280
research. 
And I like, you're going to be 

654
00:37:06,280 --> 00:37:09,120
like, what the fuck is going on?
This is nuts. 

655
00:37:09,120 --> 00:37:12,120
This is crazy. 
So like, that's what we're 

656
00:37:12,120 --> 00:37:14,400
advocating for. 
It's not necessarily to like, 

657
00:37:14,600 --> 00:37:16,800
oh, legacy media is terrible. 
They're just lying to you. 

658
00:37:16,800 --> 00:37:21,080
Like, no, no, no, go, go. 
Like do your own research. 

659
00:37:21,080 --> 00:37:23,960
Don't rely on a single source of
information. 

660
00:37:24,000 --> 00:37:27,360
That's all we're saying. 
Like do your own research, rely 

661
00:37:27,360 --> 00:37:30,240
on multiple sources. 
You'll, you'll start getting 

662
00:37:30,240 --> 00:37:33,560
good at it over time. 
Don't just rely on CNN. 

663
00:37:33,880 --> 00:37:37,440
Don't just rely on some random 
person on Twitter. 

664
00:37:37,560 --> 00:37:41,400
Connect the dots yourself and 
you'll have a more accurate 

665
00:37:41,400 --> 00:37:44,600
representation of what the truth
is in that, in that way. 

666
00:37:44,840 --> 00:37:47,880
Anyways, just to kind of give 
you guys a little bit of a taste

667
00:37:48,120 --> 00:37:54,200
of how things are shifting, at 
what pace and the way that media

668
00:37:54,200 --> 00:37:58,200
is changing. 
We have this notion of media of,

669
00:37:58,400 --> 00:38:02,520
you know, the guys are wearing 
suits and they're talking in a 

670
00:38:02,520 --> 00:38:04,800
certain way. 
And you know, it's like a 

671
00:38:04,800 --> 00:38:08,960
professional studio and 
everything is produced and it's 

672
00:38:08,960 --> 00:38:13,160
very scripted and it's and it's,
I would say non authentic 

673
00:38:13,160 --> 00:38:16,160
conversation. 
I think what we've seen over the

674
00:38:16,160 --> 00:38:18,680
last couple of weeks, 
specifically with with, you 

675
00:38:18,680 --> 00:38:20,760
know, the presidential 
presidential candidate Trump, 

676
00:38:21,120 --> 00:38:25,840
we've seen a a variety of 
different conversations. 

677
00:38:25,840 --> 00:38:31,000
So the Elon spaces and the the 
Aiden Ross stream, which was 

678
00:38:31,000 --> 00:38:33,040
hilarious. 
Like they step out and there's 

679
00:38:33,040 --> 00:38:38,480
like a Tesla cyber truck and 
it's like all wrapped in Trump's

680
00:38:38,520 --> 00:38:41,920
like assassination picture. 
Like it's absolutely hilarious. 

681
00:38:42,200 --> 00:38:46,120
And again, it's it's unscripted,
it's authentic. 

682
00:38:46,440 --> 00:38:50,240
And he just had another 
interview with a very popular 

683
00:38:50,240 --> 00:38:54,240
comedian yesterday. 
And the stuff that they said was

684
00:38:54,240 --> 00:38:57,120
absolutely hilarious. 
Now, the reason I want to play 

685
00:38:57,120 --> 00:38:58,920
you this clip is for two 
reasons. 

686
00:38:59,120 --> 00:39:05,120
Number one, it's funny as F #2. 
It's a representation of the 

687
00:39:05,120 --> 00:39:09,000
times changing and where the 
future of media is heading. 

688
00:39:09,000 --> 00:39:12,280
Let's check it out. 
That was really. 

689
00:39:12,680 --> 00:39:14,120
Yeah. 
So not just. 

690
00:39:14,120 --> 00:39:17,240
Yeah, that's. 
And it was that's down and 

691
00:39:17,240 --> 00:39:18,120
dirty, right? 
Yeah. 

692
00:39:18,160 --> 00:39:19,000
And this is. 
Yeah, this. 

693
00:39:19,000 --> 00:39:19,840
I mean, it was. 
Yeah. 

694
00:39:19,960 --> 00:39:22,320
But you don't anymore. 
No, I don't do it anymore, man. 

695
00:39:22,320 --> 00:39:23,840
And I'm not doing it. 
Is it too much? 

696
00:39:23,840 --> 00:39:26,080
Too much to handle? 
Some of the stuff started to get

697
00:39:26,080 --> 00:39:28,480
a real rattle in it too. 
I don't know where it we were 

698
00:39:28,720 --> 00:39:31,640
even getting it from in this 
country, but yeah, it started to

699
00:39:31,640 --> 00:39:33,200
make me feel like I was a 
mechanic or. 

700
00:39:33,200 --> 00:39:34,080
Something. 
So the thing you go. 

701
00:39:34,080 --> 00:39:37,280
Back to then is alcohol for the 
most part right yeah, but well 

702
00:39:37,280 --> 00:39:40,000
what I want probably is cocaine 
but I know that if I have a 

703
00:39:40,000 --> 00:39:42,920
drink then it'll give me it'll 
like be like OK well I had a 

704
00:39:42,920 --> 00:39:47,880
drink then I can do this is 
cocaine a stronger Oh yeah up 

705
00:39:48,560 --> 00:39:49,920
yeah yeah, yeah. 
Cocaine. 

706
00:39:49,920 --> 00:39:52,880
So you so you're way up with 
cocaine more than anything else 

707
00:39:52,880 --> 00:39:54,320
you can think of. 
Cocaine will turn you into a 

708
00:39:54,320 --> 00:39:56,080
damn owl, homie, you know what 
I'm saying? 

709
00:39:56,080 --> 00:39:58,760
It'll you'll be you'll be out on
your own porch. 

710
00:39:58,800 --> 00:40:01,520
You know you'll you'll be your 
own St. lamp. 

711
00:40:01,520 --> 00:40:03,680
You're freaking. 
And is that a good feeling? 

712
00:40:03,680 --> 00:40:10,840
While it's a miserable feeling. 
Ladies and gentlemen, for audio 

713
00:40:10,840 --> 00:40:14,560
listeners who's just like, what 
the fuck just did we just listen

714
00:40:14,560 --> 00:40:16,760
to? 
That was the pres. 

715
00:40:16,760 --> 00:40:21,880
That was the that was Donald 
Trump talking to an everyday 

716
00:40:21,880 --> 00:40:25,920
podcaster about cocaine. 
And of course, the reason that 

717
00:40:25,920 --> 00:40:29,640
they're bringing this up is 
because substance abuse is a 

718
00:40:29,640 --> 00:40:33,040
very big problem in the United 
States, right? 

719
00:40:33,120 --> 00:40:36,040
There's the opioid epidemic. 
It's horrible. 

720
00:40:36,200 --> 00:40:39,400
You know, substance abuse 
destroys so many people's lives.

721
00:40:39,600 --> 00:40:42,920
So it's a very serious issue. 
So the fact that that was 

722
00:40:42,920 --> 00:40:46,840
brought up in conversation, you 
know, the the way it was like, 

723
00:40:47,080 --> 00:40:51,000
could you have ever have 
imagined Opti that type of 

724
00:40:51,000 --> 00:40:54,720
conversation on legacy media? 
By the way, this interview has 

725
00:40:54,720 --> 00:40:58,920
gone in millions and millions 
and millions and millions of 

726
00:40:58,920 --> 00:41:01,200
views. 
And what that tells me is that 

727
00:41:01,200 --> 00:41:06,160
the market is telling you that 
it likes this type of content. 

728
00:41:06,200 --> 00:41:08,960
It likes this type of authentic 
conversation. 

729
00:41:09,240 --> 00:41:12,200
Before, it was like these things
were unacceptable. 

730
00:41:12,200 --> 00:41:15,000
Like, this is insane. 
This was an insane conversation,

731
00:41:15,000 --> 00:41:17,760
but it's like it adds a human 
element to it. 

732
00:41:18,040 --> 00:41:20,720
Not only that, it was absolutely
fucking hilarious. 

733
00:41:20,720 --> 00:41:23,120
It was hysterical, bro. 
That shit was so funny. 

734
00:41:23,480 --> 00:41:27,040
Optia, what's your take? 
Well, first of all, Theo Von is 

735
00:41:27,120 --> 00:41:30,840
hilarious. 
But, yeah, just like seeing, you

736
00:41:30,840 --> 00:41:34,000
know, a presidential candidate 
just sitting there with just one

737
00:41:34,000 --> 00:41:37,440
of the funniest comedians. 
And that, like, Theo Von is just

738
00:41:37,440 --> 00:41:39,680
completely unhinged. 
And you just love to see it. 

739
00:41:39,680 --> 00:41:42,800
But the fact that it's gotten 
this much attention just goes to

740
00:41:42,800 --> 00:41:45,240
show what we've learned here at 
Simply Bitcoin as well. 

741
00:41:45,240 --> 00:41:48,960
Just like authentic 
conversation, it resonates with 

742
00:41:48,960 --> 00:41:53,480
people because we're so tired of
the gatekeepers and the polished

743
00:41:54,560 --> 00:41:57,480
media production where it's 
like, OK, these are the official

744
00:41:57,480 --> 00:41:59,560
narratives and this is what you 
need to think about. 

745
00:41:59,880 --> 00:42:02,600
And it just really goes to show 
that I think we are entering a 

746
00:42:02,680 --> 00:42:07,040
new era in social media where 
just pure, authentic 

747
00:42:07,040 --> 00:42:10,120
conversations about what's 
actually happening is what 

748
00:42:10,120 --> 00:42:12,120
people want. 
Like we're thirsting for truth, 

749
00:42:12,160 --> 00:42:15,440
even if it is unhinged. 
Like the Theo Bond conversation.

750
00:42:15,840 --> 00:42:19,640
That was so crazy. 
Anyways, Matt, you have some 

751
00:42:19,640 --> 00:42:21,320
thoughts before we move on to 
the next section. 

752
00:42:21,800 --> 00:42:25,720
Yeah, just actually it's a bit 
of a response to a comment that 

753
00:42:25,720 --> 00:42:28,960
I saw pop up a little bit ago 
after I spoke previously, which 

754
00:42:28,960 --> 00:42:32,120
is someone was saying it, it's 
not optimistic, it's it's 

755
00:42:32,120 --> 00:42:34,720
dystopian. 
And I just want to quickly 

756
00:42:34,720 --> 00:42:37,880
reject that and say, no, I I 
completely disagree. 

757
00:42:38,520 --> 00:42:41,320
Is the attempt to control media 
dystopian? 

758
00:42:41,320 --> 00:42:45,120
Yeah, sure, absolutely. 
But the optimism is what you 

759
00:42:45,120 --> 00:42:48,200
guys just showed, right? 
Which is that that's what's 

760
00:42:48,200 --> 00:42:50,600
winning right now. 
That's what's getting views. 

761
00:42:50,600 --> 00:42:54,000
It's authentic, real 
conversations. 

762
00:42:54,000 --> 00:42:58,240
And to your exact point just 
now, that wouldn't have happened

763
00:42:58,240 --> 00:43:02,160
even 5-10 years ago, right? 
Because there was this walled 

764
00:43:02,160 --> 00:43:04,840
garden of media. 
And I think that's been 

765
00:43:04,840 --> 00:43:07,440
shattered. 
And the world is figuring out 

766
00:43:07,440 --> 00:43:10,920
how to deal with it right now. 
And a lot of the bureaucracies 

767
00:43:10,920 --> 00:43:13,440
are trying to figure out how to 
deal with it, their natural 

768
00:43:13,440 --> 00:43:17,120
responses to clamp down. 
And I don't see how you can't be

769
00:43:17,120 --> 00:43:19,840
optimistic there. 
And this is not the time to go, 

770
00:43:19,840 --> 00:43:21,760
oh, no, they're trying to 
control us. 

771
00:43:21,760 --> 00:43:24,080
So we just roll over and let 
them. 

772
00:43:24,080 --> 00:43:27,360
It's like, no, now we lean in, 
we create content, we have 

773
00:43:27,360 --> 00:43:30,440
conversations like this. 
Any time you're given the 

774
00:43:30,440 --> 00:43:34,840
opportunity, hop on, have a 
conversation, put your thoughts 

775
00:43:34,840 --> 00:43:39,240
out there and like try to move 
the world in a slight, like 

776
00:43:39,240 --> 00:43:41,800
little nudge in the direction 
you want it to go in every 

777
00:43:41,800 --> 00:43:44,200
opportunity given. 
And I don't know, it just it 

778
00:43:44,200 --> 00:43:46,800
makes me optimistic. 
That's the only way that I can 

779
00:43:46,840 --> 00:43:49,680
think about it. 
Yeah, I, I want to add a little 

780
00:43:49,680 --> 00:43:51,960
bit to this Max, I've said it 
before as well. 

781
00:43:51,960 --> 00:43:56,440
You know, I'm a huge freedom of 
speech activist or, or advocate.

782
00:43:57,040 --> 00:44:01,720
Like I think we should be having
these conversations and not only

783
00:44:01,720 --> 00:44:04,320
so we could get to truth, but it
really just goes to show and 

784
00:44:04,320 --> 00:44:07,080
exposing people's dumb ideas. 
And this is how we get to the 

785
00:44:07,080 --> 00:44:08,720
truth. 
And this is how we get a better 

786
00:44:08,720 --> 00:44:12,840
world is by us having extremely 
silly conversation sometimes and

787
00:44:12,840 --> 00:44:16,440
being like, oh, wait, OK, I 
thought this was smart, but 

788
00:44:16,440 --> 00:44:19,560
really, I guess I was misguided.
And you're never going to be 

789
00:44:19,560 --> 00:44:22,600
corrected if you are. 
Just like I'm the smart person 

790
00:44:22,600 --> 00:44:25,480
and you can't comment on my 
stuff and you never get feedback

791
00:44:25,480 --> 00:44:27,880
or pushback on your ideas. 
And we're seeing in real time 

792
00:44:27,880 --> 00:44:31,080
that these ideas are happening 
and people are thirsting for the

793
00:44:31,080 --> 00:44:33,360
truth. 
Yeah, You know, I will say it is

794
00:44:33,360 --> 00:44:37,080
one of the reasons why I really 
do love X Spaces or Twitter 

795
00:44:37,080 --> 00:44:39,480
Spaces, whatever you want to 
call it is because if you get on

796
00:44:39,480 --> 00:44:42,360
stage and you speak and you do 
say something stupid, you're 

797
00:44:42,360 --> 00:44:44,920
going to be told that's really 
stupid quickly. 

798
00:44:45,200 --> 00:44:46,920
And I actually, I love that 
feedback. 

799
00:44:46,920 --> 00:44:49,520
I think it sharpens your sword. 
It makes you more intelligent 

800
00:44:49,520 --> 00:44:52,040
and improves your recall. 
I've become a much better 

801
00:44:52,040 --> 00:44:55,880
speaker just getting out there 
and putting my ideas out and 

802
00:44:55,880 --> 00:44:57,640
being willing to be told I'm 
wrong. 

803
00:44:57,640 --> 00:45:00,000
And here's why. 
And I love that feedback. 

804
00:45:00,000 --> 00:45:03,560
I think it's it's a great thing 
and technology's awesome. 

805
00:45:03,760 --> 00:45:07,280
We just have to utilize it once 
again to move the needle in the 

806
00:45:07,280 --> 00:45:11,040
direction we want to move it in.
Or otherwise, sure, just roll 

807
00:45:11,040 --> 00:45:13,520
over and I guess let the 
bureaucrats decide what you 

808
00:45:13,520 --> 00:45:15,680
think. 
But I reject that fully. 

809
00:45:15,680 --> 00:45:17,480
And I love seeing stuff like 
this. 

810
00:45:17,480 --> 00:45:20,560
I think it's awesome. 100% And 
there's no way you could put the

811
00:45:20,560 --> 00:45:22,480
cat back in the bag. 
Like you can't. 

812
00:45:22,480 --> 00:45:24,800
You can't. 
Like once this is opened, like 

813
00:45:25,400 --> 00:45:29,480
it's like that dream world where
they're just like, yeah, we're 

814
00:45:29,480 --> 00:45:32,200
just going to like the future 
generations are just going to 

815
00:45:32,200 --> 00:45:35,560
consume CNN and New York Times. 
Like we're going to educate them

816
00:45:35,560 --> 00:45:37,640
to do that. 
Like that is such naive 

817
00:45:37,640 --> 00:45:39,600
thinking. 
But I think it's a it's an 

818
00:45:39,600 --> 00:45:43,200
indication of what Boo Kelly was
referring to, of how desperate 

819
00:45:43,200 --> 00:45:46,280
they are to maintain their 
control on the truth. 

820
00:45:46,280 --> 00:45:49,200
And I think the good news is 
that they're definitely losing. 

821
00:45:49,200 --> 00:45:51,000
Anyways, everybody, let's hit 
the news. 

822
00:45:51,000 --> 00:45:56,200
Lots to talk about. 
The Daily News. 

823
00:45:57,800 --> 00:46:01,360
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824
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828
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838
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839
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the show notes below to learn 
more all right everybody, one of

840
00:46:55,440 --> 00:46:59,320
the ways that you take back your
financial sovereignty is taking 

841
00:46:59,320 --> 00:47:03,360
cold storage of your Bitcoin and
the way that you do that is by 

842
00:47:03,360 --> 00:47:05,000
getting yourself a hardware 
wallet right. 

843
00:47:05,000 --> 00:47:09,280
So obviously, we recommend the 
open source Bitcoin only 

844
00:47:09,280 --> 00:47:12,240
hardware wallet, the passport by
foundation devices. 

845
00:47:12,240 --> 00:47:14,720
It's incredibly easy to use. 
You can pair it up with the 

846
00:47:14,720 --> 00:47:18,240
envoy app and if you use promo 
code simply you will get a 

847
00:47:18,240 --> 00:47:20,680
discount when you buy yourself a
hardware wallet. 

848
00:47:20,680 --> 00:47:25,280
So guys, you want to get the 
passport it not your keys, not 

849
00:47:25,280 --> 00:47:28,040
your keys. 
Don't leave your Bitcoin on 

850
00:47:28,040 --> 00:47:30,440
exchanges. 
You want to take self custody. 

851
00:47:30,440 --> 00:47:32,480
That's how you take your back 
your financial sovereignty 

852
00:47:32,840 --> 00:47:37,560
anyways. 
Speaking of the acceleration of,

853
00:47:37,640 --> 00:47:40,800
you know, the death of the 
nation state, that which is 

854
00:47:40,800 --> 00:47:45,000
interconnected with the 
separation of money and state. 

855
00:47:45,800 --> 00:47:48,520
We had some crazy news 
yesterday. 

856
00:47:48,520 --> 00:47:52,120
And what I'm referring to, and I
love how this article kind of 

857
00:47:52,120 --> 00:47:57,120
downplays it, by the way, and it
says it's from thestreet.com. 

858
00:47:57,120 --> 00:48:00,960
Although not new, social media 
was abuzz with talk of Kamala 

859
00:48:00,960 --> 00:48:06,920
Harris backing Biden's 44 
percent, 44.6% capital gains 

860
00:48:06,920 --> 00:48:08,880
tax, which is already crazy in 
the United States. 

861
00:48:08,880 --> 00:48:12,320
The capital gains tax, the Max 
bracket is about 20%. 

862
00:48:12,320 --> 00:48:17,760
So there'd be doubling the 
capital gains tax 44%. 

863
00:48:17,760 --> 00:48:20,080
So can you and Matt, like just 
think about this for a second, 

864
00:48:20,280 --> 00:48:21,760
right? 
Like specifically as it relates 

865
00:48:21,760 --> 00:48:27,440
to capital gains, you earn money
which you have to pay income tax

866
00:48:27,440 --> 00:48:30,880
on, right? 
And then you decide to use some 

867
00:48:30,880 --> 00:48:36,000
of that money to invest. 
Investing is not a sure bet, 

868
00:48:36,440 --> 00:48:38,720
right? 
Do you take on risk? 

869
00:48:39,080 --> 00:48:43,200
But you know, if you handle the 
risk properly, you could 

870
00:48:43,200 --> 00:48:47,520
potentially make a return. 
Not only do you have to pay 

871
00:48:47,520 --> 00:48:53,800
taxes on the income that you 
make now, you have to pay taxes 

872
00:48:53,880 --> 00:48:57,480
on the way that it's structured 
now is you pay taxes on the 

873
00:48:58,120 --> 00:49:02,480
investment returns that you make
while you're also simultaneously

874
00:49:02,480 --> 00:49:07,160
paying taxes on the money that 
you're using because they're 

875
00:49:07,160 --> 00:49:10,320
debasing the currency. 
Absolutely insane. 

876
00:49:10,920 --> 00:49:13,960
It goes on to say Harris 
potential backing should not be 

877
00:49:13,960 --> 00:49:17,920
a shock given that she has been 
vice president under Biden for 

878
00:49:17,920 --> 00:49:24,000
the past 1300 days. 
The kicker is the 25% tax on 

879
00:49:24,000 --> 00:49:26,320
unrealized gains for the ultra 
wealthy. 

880
00:49:26,600 --> 00:49:31,040
So this is a this is a step 
above everything that I just 

881
00:49:31,040 --> 00:49:35,520
said. 
This is basically saying that if

882
00:49:35,520 --> 00:49:42,880
you are past a certain amount of
wealth, you have to pay 25% of 

883
00:49:42,880 --> 00:49:48,040
that wealth to the government. 
So it's not only capital gain. 

884
00:49:48,280 --> 00:49:53,840
So it's not only income tax, 
it's not only tax on your 

885
00:49:53,840 --> 00:49:59,120
investments, it's not only tax 
on your money, but after you 

886
00:49:59,120 --> 00:50:03,960
reach a certain amount of 
wealth, they want to take 25% of

887
00:50:03,960 --> 00:50:06,480
it. 
So you've paid all of that tax 

888
00:50:06,480 --> 00:50:10,000
and you still manage to make a 
good amount of money for 

889
00:50:10,000 --> 00:50:12,840
yourself. 
And now the government is saying

890
00:50:13,160 --> 00:50:19,600
we feel entitled to 25% of that.
This is the same government that

891
00:50:19,600 --> 00:50:24,640
continues to spend trillions of 
dollars every single year, more 

892
00:50:24,640 --> 00:50:28,240
than it collects in tax revenue.
This is the same government that

893
00:50:28,240 --> 00:50:31,640
is sending billions of dollars 
funding foreign wars. 

894
00:50:32,160 --> 00:50:37,880
This is the same government that
left $80 billion in Afghanistan 

895
00:50:38,240 --> 00:50:43,280
just for a couple months later 
to send billions more to 

896
00:50:43,280 --> 00:50:46,200
Ukraine. 
That's the same government and 

897
00:50:46,200 --> 00:50:52,280
they have the audacity to 
basically tell you, hey, you 

898
00:50:52,280 --> 00:50:56,400
know what, we're going to 
confiscate your wealth as well 

899
00:50:56,400 --> 00:50:59,680
because this is what this is. 
This isn't tax. 

900
00:51:00,040 --> 00:51:05,160
This is confiscation on wealth. 
Now, what a lot of the comments 

901
00:51:05,160 --> 00:51:11,920
have said is, oh, Nico, this 
only applies to people that are,

902
00:51:11,920 --> 00:51:14,680
that are, are worth more than 
$100 million. 

903
00:51:15,040 --> 00:51:18,400
And this is like, OK. 
And my response to that is, 

904
00:51:19,040 --> 00:51:24,440
dude, like, do you not like, do 
you not know history? 

905
00:51:25,080 --> 00:51:28,880
You know how they convince 
people about the Federal Reserve

906
00:51:29,000 --> 00:51:31,840
and the first iteration of the 
income tax? 

907
00:51:32,160 --> 00:51:35,000
You know what the first 
iteration of the income tax was?

908
00:51:35,400 --> 00:51:41,120
They promised everybody that 
they would only tax the top 10% 

909
00:51:41,640 --> 00:51:47,600
and that tax would only be 3%. 
Look at where we are now. 

910
00:51:47,880 --> 00:51:50,200
And these are the same piece of 
same entity. 

911
00:51:50,200 --> 00:51:52,880
It's the state. 
And you're taking their word for

912
00:51:52,880 --> 00:51:54,680
it. 
You think they're going to stop?

913
00:51:55,160 --> 00:51:58,320
Like, no, that's insane. 
Like this is insane. 

914
00:51:58,320 --> 00:52:01,160
This is this is a crazy, crazy 
world. 

915
00:52:01,160 --> 00:52:03,680
Here's Bob Burnett. 
Bob Burnett is the CEO of 

916
00:52:03,680 --> 00:52:07,560
Barefoot Mining and he says as 
horrible as this looks on the 

917
00:52:07,560 --> 00:52:11,200
surface, it is even worse when 
you think of think it through. 

918
00:52:11,480 --> 00:52:14,280
Currently, nobody must report 
their net worth to the 

919
00:52:14,280 --> 00:52:18,320
government. 
A 25% tax on unrealized gains 

920
00:52:18,640 --> 00:52:22,040
also means we will all be 
required to report our net 

921
00:52:22,040 --> 00:52:24,440
worth. 
This type of information has 

922
00:52:24,440 --> 00:52:26,120
never been the purview of the 
government. 

923
00:52:26,360 --> 00:52:30,400
This is a blatant attack on our 
privacy and a set of information

924
00:52:30,400 --> 00:52:32,040
no one should trust the 
government with. 

925
00:52:32,320 --> 00:52:36,520
So like, you know, it, it like 
we've seen this play out in 

926
00:52:36,520 --> 00:52:39,920
Soviet Russia before. 
It's like, please report how 

927
00:52:39,920 --> 00:52:43,360
much cattle you have. 
And then before you know it, the

928
00:52:43,360 --> 00:52:46,240
men with guns show up and it 
says, hey, you know, we got to 

929
00:52:46,240 --> 00:52:52,080
redistribute this to the people.
Like, like, that's insane to me.

930
00:52:52,600 --> 00:52:55,200
Here's James Lavish. 
He says good afternoon. 

931
00:52:55,200 --> 00:52:58,560
A 25% on unrealized gains is 
nothing more than a cheap 

932
00:52:58,560 --> 00:53:01,720
political talking point that is 
monumentally stupid. 

933
00:53:01,880 --> 00:53:05,200
That will never happen. 
I mean, until it does happen. 

934
00:53:05,600 --> 00:53:08,520
This is what I said. 
Unrealized gains equals your 

935
00:53:08,520 --> 00:53:10,280
wealth. 
They want to tax your wealth 

936
00:53:10,280 --> 00:53:13,280
after they tax your income. 
After they tax your money via 

937
00:53:13,560 --> 00:53:16,960
debasement. 
And then I put it another way, 

938
00:53:16,960 --> 00:53:18,960
yes. 
And then of course, I'm talking 

939
00:53:18,960 --> 00:53:21,720
as if I was the US government. 
Yes, we printed a fuck ton of 

940
00:53:21,720 --> 00:53:24,840
money debasing your savings and 
now we're going to tax the shit 

941
00:53:24,840 --> 00:53:26,280
out of you for nothing in 
return. 

942
00:53:27,040 --> 00:53:28,640
What are these new tax 
proposals? 

943
00:53:28,640 --> 00:53:30,520
But not straight up extortion 
and theft? 

944
00:53:30,760 --> 00:53:33,960
And you'd say, OK Nico, like 
these are radical ideas. 

945
00:53:33,960 --> 00:53:36,160
What are you talking about? 
What are you saying? 

946
00:53:36,760 --> 00:53:40,680
My question is very simple and 
it interconnects with the book 

947
00:53:40,680 --> 00:53:42,760
The Sovereign Individual. 
Highly recommend you guys 

948
00:53:42,760 --> 00:53:45,840
reading that book. 
And this is where I am in my 

949
00:53:45,840 --> 00:53:49,000
rabbit hole journey. 
The question that I initially 

950
00:53:49,000 --> 00:53:53,440
asked is what is money? 
But where I'm at right now is 

951
00:53:53,440 --> 00:53:56,560
I'm asking the question, what is
government? 

952
00:53:57,240 --> 00:54:03,600
Do we really get in return the 
value of the taxes that we're 

953
00:54:03,600 --> 00:54:07,760
paying for? 
What am I going to get in return

954
00:54:07,760 --> 00:54:13,240
for paying 25% of my wealth to a
government, to a federal 

955
00:54:13,240 --> 00:54:15,760
government that can't control 
themselves? 

956
00:54:16,240 --> 00:54:19,920
That essentially was colluding 
with social media platforms in 

957
00:54:19,920 --> 00:54:23,360
order to silence speech. 
To bring up the Michael Ben, the

958
00:54:23,360 --> 00:54:28,200
Mike Benz thing that is 
literally paying for, you know, 

959
00:54:28,360 --> 00:54:32,280
media literally courses in 
schools so that people only 

960
00:54:32,280 --> 00:54:35,640
consume certain types of 
information for a government 

961
00:54:35,640 --> 00:54:38,680
that can't take responsibility 
for the debasement of the 

962
00:54:38,680 --> 00:54:42,400
currency. 
Like is, is that the world that 

963
00:54:42,400 --> 00:54:45,240
we want to live in? 
Like that's my question to you 

964
00:54:45,320 --> 00:54:48,600
everybody like is that the world
that we want to live in? 

965
00:54:49,000 --> 00:54:52,400
This is nuts. 
It's like the government is a 

966
00:54:52,400 --> 00:54:55,760
bunch of shit coiners that can 
just print the shit coin at 

967
00:54:55,760 --> 00:55:00,280
will, AKA Fiat, and they 
essentially hold everyone 

968
00:55:00,280 --> 00:55:02,960
hostage and they control the 
men's with guns. 

969
00:55:03,400 --> 00:55:08,720
Like like I, I like maybe that's
a very radical of me to say that

970
00:55:08,720 --> 00:55:12,360
as a Bitcoiner, but I, I can't 
help but to like not see it that

971
00:55:12,360 --> 00:55:15,080
way. 
Like when they seriously come 

972
00:55:15,080 --> 00:55:19,200
out and make these types of 
proposals, when I hear 

973
00:55:19,280 --> 00:55:23,800
politicians talking about price 
controls and then then and then 

974
00:55:23,800 --> 00:55:29,160
a couple days later talking 
about a 25% wealth tax, like, 

975
00:55:30,160 --> 00:55:33,400
you know, what is this? 
But not extortion. 

976
00:55:33,400 --> 00:55:36,840
Like it, it, this is, this is 
like mafia like behavior. 

977
00:55:37,040 --> 00:55:40,600
And the argument is like, look, 
like we need more equality. 

978
00:55:40,600 --> 00:55:42,480
We need more wealth 
redistribution. 

979
00:55:42,720 --> 00:55:44,680
You know, we need a more equal 
society. 

980
00:55:44,960 --> 00:55:49,360
And my response to that is look,
take a look at history and let 

981
00:55:49,360 --> 00:55:52,760
me know how that has worked out.
Every single time it's been an 

982
00:55:52,760 --> 00:55:57,040
absolute catastrophe that has 
resulted in 150 million people 

983
00:55:57,040 --> 00:56:01,480
dying last century. 
So yeah, I think the best, like 

984
00:56:01,480 --> 00:56:07,200
the best allocator of resources 
is the free market. 

985
00:56:07,520 --> 00:56:09,800
It does it without coercive 
means. 

986
00:56:10,000 --> 00:56:13,440
It does it with voluntary 
entrepreneurialism. 

987
00:56:13,680 --> 00:56:15,960
It does it with people taking 
risks. 

988
00:56:16,320 --> 00:56:20,120
And if they succeed in the risk 
that they take, they get 

989
00:56:20,120 --> 00:56:23,560
rewarded for it. 
What the government does is they

990
00:56:23,560 --> 00:56:28,240
have an unlimited money printer.
They have absolutely no 

991
00:56:28,680 --> 00:56:31,040
consequences to any of their 
actions. 

992
00:56:31,640 --> 00:56:34,960
And we're all just supposed to 
be and just stay and like, OK, 

993
00:56:34,960 --> 00:56:37,280
this is great. 
This is this is phenomenal. 

994
00:56:37,280 --> 00:56:40,360
Like they're censoring us. 
You know, they're arresting 

995
00:56:40,360 --> 00:56:44,560
certain people for speech and 
Canada, they're locking people 

996
00:56:44,560 --> 00:56:48,200
up if they protest. 
Like what is government? 

997
00:56:48,200 --> 00:56:50,080
What is government? 
That's the question I have for 

998
00:56:50,080 --> 00:56:52,280
you guys. 
Like what should be the role of 

999
00:56:52,280 --> 00:56:55,720
government in life because the 
way that we've been sold as 

1000
00:56:55,720 --> 00:56:58,200
Americans of what the role of 
government should be. 

1001
00:56:58,480 --> 00:57:02,120
It should be a minimal 
government to ensure and protect

1002
00:57:02,520 --> 00:57:06,160
the property rights, the 
property rights of everyone, 

1003
00:57:06,400 --> 00:57:07,720
right? 
That's that should be the role 

1004
00:57:07,720 --> 00:57:11,320
of government. 
It's taken this Frankenstein 

1005
00:57:11,320 --> 00:57:15,560
role of being the world police, 
the end all be all of 

1006
00:57:15,560 --> 00:57:18,400
information. 
Now all of a sudden we're going 

1007
00:57:18,400 --> 00:57:22,960
to control markets too. 
Like I'm sorry, they, they don't

1008
00:57:23,120 --> 00:57:26,600
look if they had a great track 
record of like, oh, they did 

1009
00:57:26,600 --> 00:57:28,560
such a great job with the war in
Iraq. 

1010
00:57:28,560 --> 00:57:32,200
Like I, I love these guys. 
They did such a great job with 

1011
00:57:32,200 --> 00:57:34,960
the pandemic. 
These guys are to be trusted. 

1012
00:57:35,160 --> 00:57:38,640
They did such a great job with 
healthcare and all this stuff. 

1013
00:57:38,960 --> 00:57:41,680
I love the government. 
They deserve more power. 

1014
00:57:41,800 --> 00:57:45,600
It's not like that. 
They shot the bed in like 5 or 

1015
00:57:45,600 --> 00:57:49,880
10 different ways and they're 
still saying trust us, bro. 

1016
00:57:50,080 --> 00:57:53,600
If you say I don't trust you, 
bro, they call you an extremist 

1017
00:57:53,840 --> 00:57:55,760
and then they lock you up in 
Guantanamo. 

1018
00:57:55,920 --> 00:57:59,840
Like that is absolutely insane. 
Like this is insanity. 

1019
00:57:59,840 --> 00:58:02,920
This is this is crazy world. 
This is nuts. 

1020
00:58:03,200 --> 00:58:06,560
So anyways, that's my take. 
That's where I'm at at my rabbit

1021
00:58:06,560 --> 00:58:09,040
hole journey. 
I think we need less government.

1022
00:58:09,160 --> 00:58:11,000
I think we need accountable 
government. 

1023
00:58:11,040 --> 00:58:14,560
And I don't think we will ever 
have accountable government 

1024
00:58:14,800 --> 00:58:17,120
without the separation of money 
and state. 

1025
00:58:17,320 --> 00:58:21,240
As long as there's a 
bureaucratic recreate money for 

1026
00:58:21,240 --> 00:58:24,880
free that everyone else has to 
work for, there will always be a

1027
00:58:24,880 --> 00:58:29,520
huge misallocation of resources 
and there will always be an 

1028
00:58:29,640 --> 00:58:32,080
abuse of power of the money 
printer. 

1029
00:58:32,120 --> 00:58:34,240
That's my take. 
What are your takes? 

1030
00:58:34,240 --> 00:58:38,440
What are your takes, Matt? 
Man, there's so many directions 

1031
00:58:38,440 --> 00:58:42,240
I could go there. 
I'd say, first of all, I know 

1032
00:58:42,240 --> 00:58:45,880
you guys like memes, so I, I 
sometimes I just think in memes,

1033
00:58:45,880 --> 00:58:49,560
that's all you can do when you 
go on something like this. 

1034
00:58:49,560 --> 00:58:55,040
And the first thing that came to
mind is there's that meme of 

1035
00:58:55,040 --> 00:59:00,160
Bugs Bunny with the, the Soviet 
Union flag, like kind of 

1036
00:59:00,160 --> 00:59:04,680
transparently put across it and 
it just says your loss, our 

1037
00:59:04,680 --> 00:59:07,000
profit. 
That's the first one that comes 

1038
00:59:07,000 --> 00:59:10,120
to mind for me. 
But I think, you know, you 

1039
00:59:10,120 --> 00:59:14,480
mentioned a little bit earlier 
the Overton window shifting. 

1040
00:59:14,720 --> 00:59:18,080
And I think more than anything I
view this as them trying to just

1041
00:59:18,080 --> 00:59:22,040
really shift that Overton window
towards we get to have more of 

1042
00:59:22,040 --> 00:59:25,880
your stuff and you should own 
nothing and be happy about it. 

1043
00:59:26,760 --> 00:59:31,760
I do think at least based on 
just how gridlocked a lot of the

1044
00:59:31,760 --> 00:59:34,800
stuff in the US is, I do think 
it actually pretty hard to get 

1045
00:59:34,800 --> 00:59:37,240
that through. 
If hypothetically it did get 

1046
00:59:37,240 --> 00:59:41,400
through, then I think, you know,
you probably end up seeing a lot

1047
00:59:41,400 --> 00:59:44,440
of capital flight from the US 
just on fears of it being 

1048
00:59:45,920 --> 00:59:49,080
expanded because you brought up 
the income tax portion earlier. 

1049
00:59:49,080 --> 00:59:50,960
That's exactly the same thing 
that happened there. 

1050
00:59:50,960 --> 00:59:54,320
And I'm also definitely not the 
first person to say this, but 

1051
00:59:54,320 --> 00:59:56,280
capital moves where it's treated
best, right? 

1052
00:59:56,280 --> 00:59:58,520
And so if you don't treat it 
well here, it's going to leave. 

1053
01:00:00,080 --> 01:00:04,160
And so I don't know, I the white
pill take, I guess on it, since 

1054
01:00:04,160 --> 01:00:09,680
I'm on that stick today, is that
it just accelerates the eventual

1055
01:00:09,680 --> 01:00:13,400
demise of the current global 
central banking cabal, which is 

1056
01:00:13,920 --> 01:00:17,880
that, you know, the more they 
try to steal, the faster the 

1057
01:00:17,880 --> 01:00:20,520
acceleration towards its 
eventual demises. 

1058
01:00:20,560 --> 01:00:24,080
And I would like to think that 
that would make Bitcoin adoption

1059
01:00:24,080 --> 01:00:27,000
grow. 
But it's also the last little 

1060
01:00:27,000 --> 01:00:31,640
bit here would be it raises an 
important piece, which is self 

1061
01:00:31,640 --> 01:00:35,640
custody, right? 
Like if you want to be civilly 

1062
01:00:35,640 --> 01:00:40,760
disobedient to a hypothetical 
tax that does not exist yet, the

1063
01:00:40,800 --> 01:00:44,160
only way you could actually do 
that would be cold storage. 

1064
01:00:44,920 --> 01:00:48,080
Because if it's on an exchange, 
the likelihood is that it's just

1065
01:00:48,080 --> 01:00:52,080
going to be like income taxes 
just withheld. 

1066
01:00:52,080 --> 01:00:54,240
You don't even get the option to
not pay it, right? 

1067
01:00:54,920 --> 01:00:56,880
They just withhold it on your 
behalf. 

1068
01:00:57,200 --> 01:01:00,520
So I think it would be something
similar there with with capital 

1069
01:01:00,520 --> 01:01:01,920
gains. 
If you've got a brokerage 

1070
01:01:01,920 --> 01:01:04,320
account or something, 
hypothetically they're just 

1071
01:01:04,320 --> 01:01:09,600
going to basically auto pay that
25% on your behalf because it 

1072
01:01:09,600 --> 01:01:13,960
makes it easier for you. 
So yeah, I'll end it there. 

1073
01:01:14,200 --> 01:01:17,320
And, and, and then also like, 
because they know that you like,

1074
01:01:17,360 --> 01:01:21,160
they know that that's impossible
to enforce on a mass scale, 

1075
01:01:21,520 --> 01:01:24,200
right? 
Like the way it's super 

1076
01:01:24,200 --> 01:01:26,280
interesting, like you guys 
should take a look at this. 

1077
01:01:26,280 --> 01:01:27,960
I I was like going down this 
rabbit hole. 

1078
01:01:27,960 --> 01:01:30,800
I've been going down this rabbit
hole of what is government for 

1079
01:01:30,800 --> 01:01:35,800
the last and I was so curious. 
I was like, how did they 

1080
01:01:35,800 --> 01:01:41,720
convince people to agree to 
essentially the withholding tax?

1081
01:01:41,720 --> 01:01:45,240
So if you're AW2 employee in the
United States, you know what I'm

1082
01:01:45,240 --> 01:01:47,560
talking about. 
So essentially you get paid 

1083
01:01:47,560 --> 01:01:51,640
every month, but they ought, 
your employer ought acts on the 

1084
01:01:51,640 --> 01:01:55,640
behalf of the government and 
automatically deducts the tax 

1085
01:01:55,640 --> 01:01:58,120
that you owe. 
And the reason that they did 

1086
01:01:58,120 --> 01:02:02,160
that is, again, it's a lot 
easier to Co opt a handful of 

1087
01:02:02,280 --> 01:02:06,840
employers right then millions 
upon millions of people all over

1088
01:02:06,840 --> 01:02:09,320
the country and say, Hey, you 
owe his taxes at the end of the 

1089
01:02:09,320 --> 01:02:12,040
year, right? 
So the way that they, they, they

1090
01:02:12,040 --> 01:02:14,360
instituted that system was 
really clever. 

1091
01:02:14,640 --> 01:02:18,680
And that system was actually 
instituted again back during 

1092
01:02:18,680 --> 01:02:22,120
World War Two. 
So it was instituted under the 

1093
01:02:22,120 --> 01:02:26,200
guise that, oh, we have to pay 
for the GIS coming back. 

1094
01:02:26,400 --> 01:02:28,880
We have to, we have to pay for 
the war. 

1095
01:02:29,120 --> 01:02:31,280
So we're going to institute this
system. 

1096
01:02:31,600 --> 01:02:35,760
It's going to be temporary, just
like the Nixon shock, just like,

1097
01:02:35,760 --> 01:02:40,480
you know, temporarily suspending
the, the convertibility to gold.

1098
01:02:41,120 --> 01:02:42,840
None of this shit was ever 
temporary. 

1099
01:02:42,840 --> 01:02:46,520
None of it was ever temporary. 
It just get it just got worse 

1100
01:02:46,520 --> 01:02:48,720
over time. 
And then I don't know if I've 

1101
01:02:48,720 --> 01:02:51,600
mentioned this yet. 
The Bank Secrecy Act, right when

1102
01:02:51,600 --> 01:02:55,520
they passed that essentially 
that law made it so that every 

1103
01:02:55,520 --> 01:02:59,960
$10,000 transaction had to be 
reported to the government. 

1104
01:03:01,240 --> 01:03:03,760
So, and the reason for that is 
they they, you know, the guys 

1105
01:03:03,760 --> 01:03:06,400
for that is like money 
laundering, you know, terrorism.

1106
01:03:06,400 --> 01:03:11,280
AM LKYC what they don't tell you
is that back then if you adjust 

1107
01:03:11,280 --> 01:03:16,840
$10,000 for inflation, it's the 
equivalent of $80,000 worth of 

1108
01:03:16,840 --> 01:03:21,200
purchasing power today, but they
kept the number right. 

1109
01:03:21,320 --> 01:03:25,600
So I, there's a historical 
there, there's, there's 

1110
01:03:25,600 --> 01:03:29,320
historical examples for me to 
feel this way, like I don't 

1111
01:03:29,320 --> 01:03:31,640
trust you. 
I, I, you, you've, you've 

1112
01:03:31,640 --> 01:03:35,720
betrayed that trust in 50 
different ways. 

1113
01:03:36,040 --> 01:03:37,920
I don't trust what you have to 
say. 

1114
01:03:38,080 --> 01:03:40,920
I don't believe that you're 
going to be able to get prices 

1115
01:03:40,920 --> 01:03:44,200
under control. 
You've been in power for 3 1/2 

1116
01:03:44,200 --> 01:03:47,240
years. 
You I don't think you're going 

1117
01:03:47,240 --> 01:03:49,560
to be great towards the Bitcoin 
industry. 

1118
01:03:49,560 --> 01:03:51,600
Your actions have shown 
something. 

1119
01:03:52,040 --> 01:03:54,400
You know, your, your words say 
something, your actions. 

1120
01:03:54,400 --> 01:03:57,720
So show another thing. 
Like I'm telling you, like I'm 

1121
01:03:57,720 --> 01:03:59,560
just jaded. 
Like I'm just like, dude, like I

1122
01:03:59,560 --> 01:04:02,560
don't believe you anymore. 
So Opti, I, I know that you've 

1123
01:04:02,560 --> 01:04:05,280
been falling down this rabbit 
hole with me too, bro. 

1124
01:04:05,520 --> 01:04:09,240
We were, we were like Gold Star 
perfect citizens. 

1125
01:04:09,240 --> 01:04:12,680
I think when we started this 
channel, bro, we gave them so 

1126
01:04:12,680 --> 01:04:15,520
much. 
We gave them so much benefit of 

1127
01:04:15,520 --> 01:04:18,280
the doubt and so much like, you 
know what? 

1128
01:04:18,280 --> 01:04:22,200
Maybe they're just ill informed.
Maybe they just know don't know 

1129
01:04:22,200 --> 01:04:24,720
any better. 
Like now it just feels like it's

1130
01:04:24,720 --> 01:04:27,360
on purpose at this point. 
Yeah. 

1131
01:04:27,360 --> 01:04:30,560
Well, first and foremost, my 
thoughts are this is absolutely 

1132
01:04:30,560 --> 01:04:33,440
stupid. 
This would never, never work in 

1133
01:04:33,440 --> 01:04:35,440
America. 
Well, I won't say never, but 

1134
01:04:35,600 --> 01:04:39,040
anyone that understands what's 
going on here should obviously 

1135
01:04:39,440 --> 01:04:41,800
not agree with this. 
But I think the most telling 

1136
01:04:41,800 --> 01:04:44,280
part about this whole thing is 
that there's people out there 

1137
01:04:44,280 --> 01:04:47,400
that are so economically 
illiterate that they think this 

1138
01:04:47,400 --> 01:04:51,280
is a good idea. 
There is been a very, you know, 

1139
01:04:52,200 --> 01:04:56,480
whirring trend of, of people 
basically being like, you know, 

1140
01:04:56,480 --> 01:04:59,200
tax the rich, like the rich 
don't pay their fair share even 

1141
01:04:59,200 --> 01:05:00,640
though they pay most of the 
taxes. 

1142
01:05:00,960 --> 01:05:03,680
Dude, why do you think, why do 
you think they want to pass 

1143
01:05:03,680 --> 01:05:07,840
those those school courses about
the media literacy bro? 

1144
01:05:07,880 --> 01:05:10,920
This is what I'm saying. 
And and you know, I'm doubling 

1145
01:05:10,920 --> 01:05:13,480
down on this like Nico, you 
know, I think you're being a 

1146
01:05:13,480 --> 01:05:16,200
little nice on this. 
The way I look at this is this 

1147
01:05:16,200 --> 01:05:19,760
is just them trying to make 
theft the property palatable for

1148
01:05:19,760 --> 01:05:21,680
people. 
And we know where this goes 

1149
01:05:21,680 --> 01:05:25,320
historically, when you allow the
government to steal your 

1150
01:05:25,320 --> 01:05:28,840
property, it doesn't end good. 
You know, again, as Matt was 

1151
01:05:28,840 --> 01:05:32,840
saying, the the Bugs Bunny meme,
like, you know, you took the 

1152
01:05:32,840 --> 01:05:36,000
risk, but this is our wins now. 
And it's like, this is this is 

1153
01:05:36,000 --> 01:05:38,480
stupid. 
This is very dumb economic 

1154
01:05:38,480 --> 01:05:41,000
policies. 
And I mean, am I surprised? 

1155
01:05:41,000 --> 01:05:44,560
No, I'm, I, I've said it before,
you know, this is this is all 

1156
01:05:44,560 --> 01:05:46,760
sounding very Marxist to me at 
this point. 

1157
01:05:47,000 --> 01:05:49,360
And I've given them the benefit 
of the doubt for a while, but 

1158
01:05:49,360 --> 01:05:52,880
now I'm like, yo, this is, it's 
very clear what they want to do.

1159
01:05:52,880 --> 01:05:55,840
They want to steal as much 
property from you as possible. 

1160
01:05:56,040 --> 01:05:58,240
I know there's like people 
saying they're like, oh, this is

1161
01:05:58,240 --> 01:06:01,000
only going to be for the ultra 
rich, but we know how government

1162
01:06:01,000 --> 01:06:03,080
mandates go. 
They're going to use this to 

1163
01:06:03,080 --> 01:06:06,640
basically ensure that there is 
no more social mobility. 

1164
01:06:06,840 --> 01:06:09,520
So that like, if you're a poor 
peasant now, you will always be 

1165
01:06:09,520 --> 01:06:12,160
a poor peasant. 
And there's like, what's the 

1166
01:06:12,160 --> 01:06:16,280
point of working hard if your 
wins, you have to give away 

1167
01:06:16,280 --> 01:06:19,160
2540% of what of the risks that 
you're taking? 

1168
01:06:19,160 --> 01:06:21,720
Like, if all my wins are going 
to the government, what's to the

1169
01:06:21,720 --> 01:06:23,880
point of even working? 
And we've seen this play out in 

1170
01:06:23,880 --> 01:06:26,360
real time. 
Like this is this is stupid 

1171
01:06:26,360 --> 01:06:28,560
economic policies. 
And the fact that people think 

1172
01:06:28,560 --> 01:06:32,720
this is a good idea just goes to
show like how I'll educated most

1173
01:06:32,720 --> 01:06:34,720
people are. 
And man, it's just it's 

1174
01:06:34,720 --> 01:06:38,200
absolutely disgusting what we're
seeing that people believe this 

1175
01:06:38,200 --> 01:06:40,240
is a good idea. 
And like, I could rant about 

1176
01:06:40,240 --> 01:06:42,120
this forever, but I do want to 
get into the culture. 

1177
01:06:42,120 --> 01:06:47,200
So yeah, hold back. 100% like 
guys like the The solution to 

1178
01:06:47,200 --> 01:06:51,720
this is the separation of money 
and state like you want to and 

1179
01:06:51,720 --> 01:06:54,520
the insanity and the 
divisiveness and the whole 

1180
01:06:54,520 --> 01:06:59,200
political fugazi and the thing 
separate money from state that 

1181
01:06:59,200 --> 01:07:03,040
fixes the base layer of society.
Politicians are incentivized to 

1182
01:07:03,040 --> 01:07:05,160
actually do good by their 
constituents. 

1183
01:07:05,400 --> 01:07:09,440
Like it truly fixes things. 
As long as DC has the ability to

1184
01:07:09,440 --> 01:07:13,840
print money. 
These continued crazy effing 

1185
01:07:13,840 --> 01:07:18,840
ideas will just continue. 
It will just continue until the 

1186
01:07:18,840 --> 01:07:21,680
system just collapses inevitably
one day. 

1187
01:07:21,960 --> 01:07:25,200
But the good news is that you 
can opt out right now and the 

1188
01:07:25,200 --> 01:07:27,160
way that you don't have to wait 
for the election. 

1189
01:07:27,160 --> 01:07:29,720
You don't have to whatever. 
You can vote with your energy, 

1190
01:07:29,720 --> 01:07:32,680
your time and your work. 
Buy Bitcoin, earn Bitcoin, mine 

1191
01:07:32,680 --> 01:07:34,720
Bitcoin, and put that Bitcoin 
into self custody. 

1192
01:07:34,880 --> 01:07:37,200
Let's get to the culture and 
talk to Macro Minutes. 

1193
01:07:40,240 --> 01:07:49,080
The daily culture. 
All right everybody, I do want 

1194
01:07:49,080 --> 01:07:51,200
to give a shout out to the 
Orange Pull app. 

1195
01:07:51,200 --> 01:07:54,800
It's the Bitcoin social layer 
Stack friends who stack sats. 

1196
01:07:54,800 --> 01:07:58,800
To get started, scan the QR code
on your screen or check the link

1197
01:07:58,800 --> 01:08:03,920
in the video description. 
Join the 11,822 Bitcoiners that 

1198
01:08:03,920 --> 01:08:06,120
are currently on the app. 
Right now. 

1199
01:08:06,360 --> 01:08:09,240
It is the Bitcoin social layer. 
So if you're traveling, you go 

1200
01:08:09,240 --> 01:08:12,640
to a new city, you go to a 
Bitcoin conference and you don't

1201
01:08:12,640 --> 01:08:15,680
know any Bitcoiners around you. 
You pull up the orange pull up 

1202
01:08:15,680 --> 01:08:17,439
and it'll give you, it'll 
literally tell you the 

1203
01:08:17,439 --> 01:08:20,160
Bitcoiners around you and it'll 
literally give you the ability 

1204
01:08:20,279 --> 01:08:23,840
to send them a message directly.
It's also the number one 

1205
01:08:23,840 --> 01:08:25,760
resource for Bitcoin only 
events. 

1206
01:08:25,760 --> 01:08:28,920
Like I said, if you're going to 
a conference and perhaps you're 

1207
01:08:28,920 --> 01:08:31,319
there for a week and the 
conference is only two days and 

1208
01:08:31,319 --> 01:08:34,200
you want to know what to do at 
night, the orange pull up is for

1209
01:08:34,200 --> 01:08:35,439
you. 
It'll literally show you the 

1210
01:08:35,439 --> 01:08:38,720
Bitcoin events near you. 
It's also one of the best ways 

1211
01:08:38,720 --> 01:08:41,080
to reach me directly. 
I appreciate all the messages 

1212
01:08:41,080 --> 01:08:43,800
that you guys have been sending.
If you want to reach me directly

1213
01:08:43,800 --> 01:08:46,200
if you have a question for me, 
perhaps you want to come on the 

1214
01:08:46,200 --> 01:08:49,399
show, send me a message on the 
orange pull up. 

1215
01:08:49,520 --> 01:08:52,560
I don't really answer Twitter 
DMS or emails these days. 

1216
01:08:52,720 --> 01:08:56,680
So scan the QR code or check the
link in the video to get started

1217
01:08:56,760 --> 01:08:58,680
in the video description to get 
started. 

1218
01:08:58,840 --> 01:09:04,520
So back throwback to the macro 
minute days man when he used to 

1219
01:09:04,520 --> 01:09:09,040
come on our spaces when Opti was
slaving away after an hour long 

1220
01:09:09,040 --> 01:09:10,359
show. 
Hey, I'm still. 

1221
01:09:10,359 --> 01:09:13,760
Slaving away, bro. 
After an aren't aren't we all 

1222
01:09:13,760 --> 01:09:16,080
the whole simply Bitcoin crew 
bro Jesus. 

1223
01:09:16,080 --> 01:09:18,439
Actually, after this news 
segment, I think we're all 

1224
01:09:18,439 --> 01:09:20,399
slaving now. 
At least that's what they want. 

1225
01:09:20,399 --> 01:09:24,800
From us is straight up bro but 
but yeah it's a macro. 

1226
01:09:24,800 --> 01:09:28,840
Minutes used to join us on the 
simply Bitcoin spaces and you 

1227
01:09:28,840 --> 01:09:30,760
know the the it's it's in the 
name. 

1228
01:09:30,760 --> 01:09:33,880
Matt would give his macro takes,
right. 

1229
01:09:34,160 --> 01:09:35,640
So that's what he's gonna do 
today. 

1230
01:09:35,760 --> 01:09:37,080
No, no. 
No, no, we're switching. 

1231
01:09:37,080 --> 01:09:38,560
We're. 
Switching he's not macro 

1232
01:09:38,560 --> 01:09:39,800
minutes. 
No, we can. 

1233
01:09:39,800 --> 01:09:43,200
Tell the macro minutes story. 
But we're gonna we're gonna talk

1234
01:09:43,200 --> 01:09:45,160
about energy, Bitcoin and 
energy. 

1235
01:09:45,160 --> 01:09:46,240
Life. 
So it's energy. 

1236
01:09:46,240 --> 01:09:48,040
It's Matt. 
Energy minutes today. 

1237
01:09:48,040 --> 01:09:50,880
Yeah, I'm excited. 
I mean, Matt, maybe he kind of 

1238
01:09:50,880 --> 01:09:52,359
touched on it earlier. 
So Matt, I don't know if you 

1239
01:09:52,359 --> 01:09:55,560
want to rehash the macro minute 
to me, but I really want to get 

1240
01:09:55,560 --> 01:09:57,520
into the Bitcoin and energy 
conversation. 

1241
01:09:57,520 --> 01:09:59,640
So I, I think let's just start 
there. 

1242
01:09:59,640 --> 01:10:02,960
First of all, like you said in 
the beginning, you are literally

1243
01:10:02,960 --> 01:10:06,720
outside of you said a plant, you
know, an energy plant right now,

1244
01:10:06,720 --> 01:10:11,240
you've been an engineer and you 
do host a spaces on Twitter on 

1245
01:10:11,240 --> 01:10:13,120
your Twitter account macro 
minutes about Bitcoin and 

1246
01:10:13,120 --> 01:10:15,440
energy. 
And considering we started this 

1247
01:10:15,760 --> 01:10:18,360
show today with Jack Mahler's 
talking about Bitcoin and 

1248
01:10:18,360 --> 01:10:21,880
energy, I think let's touch on 
just like the importance of 

1249
01:10:21,880 --> 01:10:26,200
energy, why energy use is good. 
And basically, like Jack Mahler 

1250
01:10:26,200 --> 01:10:29,040
said in the beginning, energy 
use makes the world go round. 

1251
01:10:29,600 --> 01:10:32,400
Yeah, you know, I, I so let me 
give a quick background because 

1252
01:10:32,400 --> 01:10:34,600
I got I got to fill Nico in 
because I that we haven't 

1253
01:10:34,600 --> 01:10:37,320
actually chatted since like 
those spaces used to happen back

1254
01:10:37,320 --> 01:10:40,280
in the day. 
So I was telling Anati starting 

1255
01:10:40,280 --> 01:10:45,480
out, I, I made my ex account at 
what I would consider to be the 

1256
01:10:45,480 --> 01:10:49,160
peak of, of, of mount Stupid is 
what I told him earlier. 

1257
01:10:49,160 --> 01:10:52,360
And so that's where you, you're 
really interested in a new 

1258
01:10:52,360 --> 01:10:55,440
topic, right? 
And you go and you just consume 

1259
01:10:55,440 --> 01:10:57,480
all of the information you can 
out there. 

1260
01:10:57,480 --> 01:10:59,000
You try to learn as much as you 
can. 

1261
01:10:59,320 --> 01:11:02,040
And for me, I I've always been 
interested in what's going on in

1262
01:11:02,040 --> 01:11:07,080
the world, especially when it 
comes to just like I said, macro

1263
01:11:07,080 --> 01:11:10,560
minutes, right, macroeconomics, 
just anything like what is going

1264
01:11:10,560 --> 01:11:13,200
on outside of my small little 
day-to-day world. 

1265
01:11:13,640 --> 01:11:16,520
And so I made the account 
thinking, yeah, I want to really

1266
01:11:16,520 --> 01:11:18,760
lean into that. 
I want to contribute to that. 

1267
01:11:18,920 --> 01:11:20,680
Like that's what I want to do, 
right? 

1268
01:11:21,040 --> 01:11:24,960
And then you get to the stage 
where you start to learn all of 

1269
01:11:24,960 --> 01:11:27,640
the things you know, you don't 
even know what you don't know 

1270
01:11:27,640 --> 01:11:29,160
yet, right? 
And that's the peak of Mount 

1271
01:11:29,160 --> 01:11:30,640
Stupid. 
And then you get to the through 

1272
01:11:30,640 --> 01:11:35,160
of like despair, which is, Oh my
God, this is so complicated. 

1273
01:11:35,360 --> 01:11:38,720
How could I ever even begin to 
understand what's actually going

1274
01:11:38,720 --> 01:11:40,760
on and contribute in any 
meaningful way? 

1275
01:11:41,080 --> 01:11:45,840
And I went a little bit silent 
on X for a while and then kind 

1276
01:11:45,840 --> 01:11:49,160
of came to the full circle 
realization of, no, the area 

1277
01:11:49,160 --> 01:11:52,560
that I actually should be 
contributing in is the area of 

1278
01:11:52,560 --> 01:11:55,080
true expertise for me. 
So I'm, I'm a facilities 

1279
01:11:55,080 --> 01:11:57,200
engineer. 
I've been going into power 

1280
01:11:57,200 --> 01:12:01,280
plants for nearly a decade now. 
And I help them to basically 

1281
01:12:01,280 --> 01:12:04,440
make those last couple 
megawatts, right? 

1282
01:12:04,440 --> 01:12:07,600
They're trying to put as much 
power on the grid as possible. 

1283
01:12:07,800 --> 01:12:10,480
And the projects that I work on 
help them to do so. 

1284
01:12:10,880 --> 01:12:15,800
And there's this interesting 
cross section of Bitcoin mining 

1285
01:12:16,000 --> 01:12:19,480
and power generation. 
And that's really just been the 

1286
01:12:19,480 --> 01:12:22,640
true niche area where I can 
bring some of my own personal 

1287
01:12:22,640 --> 01:12:26,360
expertise to, but then also 
learn from the actual folks who 

1288
01:12:26,360 --> 01:12:29,760
are doing the mining. 
And so I started the show the 

1289
01:12:29,760 --> 01:12:33,360
first week of January this year.
And I've done a show every week 

1290
01:12:33,360 --> 01:12:35,920
except for when the rowing 
national championships happened,

1291
01:12:35,920 --> 01:12:38,240
I missed that week. 
But aside from that, I haven't 

1292
01:12:38,240 --> 01:12:40,960
missed a week this whole year. 
I've done a show every single 

1293
01:12:40,960 --> 01:12:45,160
Thursday just focused on Bitcoin
and energy and the the 

1294
01:12:45,160 --> 01:12:48,400
intersection between the two. 
And so I think the start of this

1295
01:12:48,400 --> 01:12:50,880
show, as you mentioned, Opti 
was, was perfect for me. 

1296
01:12:50,880 --> 01:12:54,040
It's like, wow, that's right in 
my wheelhouse because that's 

1297
01:12:54,040 --> 01:12:59,080
literally what I'm doing. 
And so, yeah, I I would say in 

1298
01:12:59,080 --> 01:13:02,720
summary, what we were talking 
about earlier is, is energy is 

1299
01:13:02,720 --> 01:13:05,640
life. 
And Bitcoin is immediately tied 

1300
01:13:05,640 --> 01:13:07,560
to energy. 
You cannot separate it. 

1301
01:13:08,000 --> 01:13:11,440
And so based on that, when you 
see once again, Michael Saylor 

1302
01:13:11,440 --> 01:13:15,800
tweet something like Bitcoin is 
life and you see people respond 

1303
01:13:15,800 --> 01:13:18,960
to that negatively, to me it 
just shows that they don't 

1304
01:13:18,960 --> 01:13:23,200
exactly get what he's getting 
at, which is there's pro human 

1305
01:13:23,200 --> 01:13:27,480
currency, which is Bitcoin, and 
then there's anti human 

1306
01:13:27,480 --> 01:13:29,920
dystopian currency, which is 
Fiat. 

1307
01:13:30,200 --> 01:13:33,000
And one steals your purchasing 
power. 

1308
01:13:33,000 --> 01:13:36,040
It literally steals your energy,
your life force, everything you 

1309
01:13:36,040 --> 01:13:40,720
put out into the world. 
That 25% unrealized capital 

1310
01:13:40,720 --> 01:13:45,120
gains tax is nothing compared to
the insidious nature of money 

1311
01:13:45,120 --> 01:13:47,480
printing, right? 
Which is stealing whether you 

1312
01:13:47,480 --> 01:13:51,640
like it or not, 7 to 14% per 
year in perpetuity and has been 

1313
01:13:51,640 --> 01:13:53,960
doing so for hundreds of years 
at this point. 

1314
01:13:54,960 --> 01:13:57,600
And I just love that Bitcoin is 
tied to energy. 

1315
01:13:57,880 --> 01:14:00,560
The tied to energy is what makes
it scarce. 

1316
01:14:00,880 --> 01:14:06,160
And yes, I just love getting 
into the actual details on the I

1317
01:14:06,160 --> 01:14:08,560
nerd out on the engineering side
too, which I'd be more than 

1318
01:14:08,560 --> 01:14:10,520
happy to do, but I don't know if
you guys want me to go on that 

1319
01:14:10,520 --> 01:14:12,960
tangent right now. 
So anyways, that's that's the 

1320
01:14:12,960 --> 01:14:15,880
world that I'm in and I'm happy 
to go whatever direction you. 

1321
01:14:15,880 --> 01:14:18,880
Guys, Yeah, yeah, I think I 
really want to touch on energy 

1322
01:14:18,880 --> 01:14:21,520
in particular because they're 
like, again, you know, I 

1323
01:14:21,520 --> 01:14:25,240
mentioned the news, there's a 
growing trend of saying tax the 

1324
01:14:25,240 --> 01:14:27,400
rich. 
There's also a growing trend 

1325
01:14:27,400 --> 01:14:31,480
about like energy uses bad and 
you know, everything going to 

1326
01:14:31,480 --> 01:14:35,200
electric vehicles and you know, 
like, what's your what, what is 

1327
01:14:35,200 --> 01:14:37,720
it like? 
What's your carbon footprint? 

1328
01:14:37,720 --> 01:14:40,920
And so we're seeing a lot of 
these trends are making the 

1329
01:14:40,920 --> 01:14:44,920
whole world go carbon neutral, 
like, you know, get to 0 carbon 

1330
01:14:44,920 --> 01:14:49,280
in whatever 20-30. 
And as someone that really 

1331
01:14:49,280 --> 01:14:52,240
fundamentally believes that 
humanity should be using more 

1332
01:14:52,240 --> 01:14:56,280
energy, that's how we prosper. 
I really want to just dive in 

1333
01:14:56,280 --> 01:15:00,040
that that idea is like the 
answer to our problems is not 

1334
01:15:00,040 --> 01:15:02,280
less energy use. 
That's literally going to push 

1335
01:15:02,280 --> 01:15:06,400
us backwards in time that the 
the solution is using energy 

1336
01:15:06,400 --> 01:15:09,880
more efficiently, which Bitcoin 
will allow, Bitcoin mining will 

1337
01:15:09,880 --> 01:15:12,400
allow. 
And you as someone that's energy

1338
01:15:12,400 --> 01:15:15,160
expert, for lack of better 
terms, like, let's just touch on

1339
01:15:15,160 --> 01:15:17,360
that idea. 
What would you say to skeptics 

1340
01:15:17,360 --> 01:15:21,720
about energy use or you know, 
going green, you know, 100% 

1341
01:15:21,720 --> 01:15:25,400
energy by whatever X year. 
Like what's your thinking on 

1342
01:15:25,400 --> 01:15:27,480
this? 
Are they fundamentally misguided

1343
01:15:27,480 --> 01:15:29,640
or are we biased? 
Or am I bi? 

1344
01:15:29,640 --> 01:15:31,120
I'll do. 
Am I biased? 

1345
01:15:31,880 --> 01:15:38,040
Yeah, no, I So when it comes to 
the green thing, I don't think 

1346
01:15:38,040 --> 01:15:43,840
anybody wants to just dump toxic
waste in the environment, right?

1347
01:15:43,840 --> 01:15:47,560
Like, I think pretty much 
anybody who, you know, loves 

1348
01:15:47,560 --> 01:15:50,440
nature, loves humanity, loves 
prosperity. 

1349
01:15:50,600 --> 01:15:54,000
Nobody says, yeah, let's just go
dump toxic waste so we can all 

1350
01:15:54,000 --> 01:15:55,400
get rich. 
I mean, maybe there's a very 

1351
01:15:55,400 --> 01:15:58,640
small percentage of people that 
would say that, but most, your 

1352
01:15:58,640 --> 01:16:02,480
average person, you know, 
they're not going to just dump 

1353
01:16:02,480 --> 01:16:04,360
their motor oil in the ditch, 
right? 

1354
01:16:04,560 --> 01:16:08,400
So I, I think most people would 
be aligned that, yeah, we don't 

1355
01:16:08,400 --> 01:16:12,160
want to be just destroying the 
environment, but that also 

1356
01:16:12,160 --> 01:16:15,400
doesn't mean that our daily 
activities have zero impact and 

1357
01:16:15,400 --> 01:16:17,720
that we could ever get to a 
state where there's zero impact.

1358
01:16:17,720 --> 01:16:21,960
And I think a lot of the people 
who have been misguided by the 

1359
01:16:21,960 --> 01:16:26,040
degrowth cult, for lack of a 
better term, is they've 

1360
01:16:26,040 --> 01:16:28,640
literally been misguided into 
thinking that any human impact 

1361
01:16:28,640 --> 01:16:30,880
is bad. 
And if you take that to its, 

1362
01:16:32,520 --> 01:16:35,080
what would it be like Reductio 
ad absurdum, right? 

1363
01:16:35,080 --> 01:16:37,400
You take it to its most extreme 
conclusion. 

1364
01:16:37,720 --> 01:16:40,200
It is literally that humans 
shouldn't exist. 

1365
01:16:40,600 --> 01:16:42,800
And I'd fundamentally reject 
that, right? 

1366
01:16:42,840 --> 01:16:45,000
I think humans are good. 
I think there should be more 

1367
01:16:45,000 --> 01:16:46,680
humans and we should have more 
impact. 

1368
01:16:47,080 --> 01:16:50,120
But I think there's a way that 
we can impact our local 

1369
01:16:50,120 --> 01:16:54,080
environment positively. 
And I'm extremely biased towards

1370
01:16:54,080 --> 01:16:57,000
nuclear, pro nuclear. 
I'm in nuclear plants multiple 

1371
01:16:57,000 --> 01:16:58,680
days a week. 
I'm sitting in the parking lot 

1372
01:16:58,680 --> 01:17:02,600
of one right. 
So like I, I think that they are

1373
01:17:02,760 --> 01:17:06,840
basically peak humanity, us 
functioning at our highest 

1374
01:17:06,840 --> 01:17:09,000
level. 
You know, we're taking spicy 

1375
01:17:09,000 --> 01:17:12,200
rocks and we're boiling water 
with it and we're using that to 

1376
01:17:12,200 --> 01:17:16,360
do all kinds of great things in 
the local community and it 

1377
01:17:16,680 --> 01:17:20,720
produces effectively no waste. 
I mean, the way is stored on 

1378
01:17:20,720 --> 01:17:24,720
site in concrete cast and it 
fits in a parking lot and you 

1379
01:17:24,720 --> 01:17:29,080
can power basically a million, 
two million homes for decades 

1380
01:17:29,520 --> 01:17:32,680
and all you do is basically make
some concrete boxes in a parking

1381
01:17:32,680 --> 01:17:34,400
lot. 
That's a pretty good trade off 

1382
01:17:34,400 --> 01:17:40,120
if you ask me, right? 
And so versus for example, let's

1383
01:17:40,120 --> 01:17:44,000
say you are pro solar, I'm not 
anti solar, anti grid scale 

1384
01:17:44,000 --> 01:17:46,080
solar maybe. 
I think if you want solar panels

1385
01:17:46,080 --> 01:17:49,840
on your house, by all means go 
for it, But I also don't think 

1386
01:17:49,840 --> 01:17:52,840
we should be clear clear cutting
thousands of acres of forest to 

1387
01:17:52,840 --> 01:17:56,480
put up solar panels when once 
again, it's a bit of a meme, but

1388
01:17:56,480 --> 01:17:59,440
we can just take spicy rocks and
and boil some water with it 

1389
01:17:59,480 --> 01:18:02,040
right? 
Like it wait, it takes so much 

1390
01:18:02,040 --> 01:18:05,040
less space. 
Energy density is super 

1391
01:18:05,040 --> 01:18:07,040
important. 
Lynn Alden has some great takes 

1392
01:18:07,040 --> 01:18:09,520
on that. 
So I encourage anybody to check 

1393
01:18:09,520 --> 01:18:14,760
out her works on her work and 
her take on energy density I 

1394
01:18:14,760 --> 01:18:19,280
think is spot on. 
And I think one of the like, one

1395
01:18:19,280 --> 01:18:22,280
of the one of the kind of like, 
I don't want to say 

1396
01:18:22,280 --> 01:18:26,120
misconceptions because it is a, 
is a, because I love the way 

1397
01:18:26,120 --> 01:18:28,560
that you simplify it, right? 
Which is, you know, it's spicy 

1398
01:18:28,560 --> 01:18:32,200
rocks, right, radioactive rocks,
right? 

1399
01:18:32,920 --> 01:18:36,720
And then, you know, they, they 
heat up water and then that 

1400
01:18:36,720 --> 01:18:39,240
powers the turbine and then Bing
bam, boom. 

1401
01:18:39,240 --> 01:18:42,600
That's the way it should work. 
But I think that there has been,

1402
01:18:42,920 --> 01:18:48,240
you know, some issues, whether 
that's Three Mile, Fukushima, 

1403
01:18:48,240 --> 01:18:54,400
Chernobyl, that I think have, 
you know, given the industry a 

1404
01:18:54,400 --> 01:18:57,880
bad name. 
I think a lot of people don't 

1405
01:18:57,880 --> 01:19:03,840
realize how far nuclear reactor 
technology has come and how much

1406
01:19:03,840 --> 01:19:08,760
safer they are today compared to
kind of like the first 

1407
01:19:08,760 --> 01:19:14,200
iterations of nuclear reactors, 
which have led to some like 

1408
01:19:14,200 --> 01:19:16,680
catastrophic disasters in the 
past. 

1409
01:19:17,080 --> 01:19:21,720
Well, I would say catastrophic 
depending on how you measure it,

1410
01:19:21,720 --> 01:19:23,400
right? 
Let's take Three Mile Island in 

1411
01:19:23,400 --> 01:19:26,560
Fukushima, for example. 
There were no radio radiation 

1412
01:19:26,560 --> 01:19:29,360
deaths associated with either of
those accidents. 

1413
01:19:29,880 --> 01:19:32,920
And so for me, it's like, how is
that a catastrophe? 

1414
01:19:33,560 --> 01:19:36,880
3 Mile Island still is. 
Well, I mean, they mothballed it

1415
01:19:36,880 --> 01:19:40,760
for economic reasons, but the 
the reactors still function 

1416
01:19:40,760 --> 01:19:42,480
fine. 
People were still working on 

1417
01:19:42,480 --> 01:19:45,280
that facility. 
Chernobyl is a little bit of a 

1418
01:19:45,280 --> 01:19:49,440
different a little bit of a 
different scenario, right? 

1419
01:19:49,440 --> 01:19:52,760
But it's also, to your point, a 
much older design, A Soviet 

1420
01:19:52,760 --> 01:19:54,960
design. 
No containment around it. 

1421
01:19:55,160 --> 01:19:58,720
You have a steam explosion. 
The actual core material gets 

1422
01:19:59,480 --> 01:20:02,120
you know, atomized into the 
local environment. 

1423
01:20:02,480 --> 01:20:05,320
Were there radiation releases? 
Yes. 

1424
01:20:05,320 --> 01:20:09,840
But I actually would encourage 
anybody who's more curious on 

1425
01:20:09,840 --> 01:20:14,280
this specific topic to look up 
the YouTube Kyle Hill. 

1426
01:20:14,600 --> 01:20:20,840
He has some really good concise 
videos. 2030 minutes on on Three

1427
01:20:20,840 --> 01:20:24,200
Mile Island on Fukushima on a 
bunch of other lesser known 

1428
01:20:24,200 --> 01:20:28,440
nuclear incidents with. 
Orphan sources of radioactive 

1429
01:20:28,440 --> 01:20:33,240
material and if you really want 
to understand the science and 

1430
01:20:33,480 --> 01:20:36,400
the implications of some of 
those accidents, I'd I'd 

1431
01:20:36,400 --> 01:20:39,760
encourage you guys to check out 
that that YouTube channel 

1432
01:20:39,760 --> 01:20:43,560
because he does a way better job
than than I could right now live

1433
01:20:44,280 --> 01:20:46,760
in digging into the details of 
each of those individual 

1434
01:20:46,760 --> 01:20:49,120
incidents. 
But I'll just say, broadly 

1435
01:20:49,120 --> 01:20:54,000
speaking, radiation is just to 
be respected, but definitely not

1436
01:20:54,000 --> 01:20:55,800
feared, right? 
Just like electricity. 

1437
01:20:56,240 --> 01:21:00,120
Don't go licking wires, right? 
And you won't get shocked, you 

1438
01:21:00,160 --> 01:21:01,720
know? 
What, what would you say? 

1439
01:21:01,720 --> 01:21:04,920
Again, I'm, I'm playing devil's 
advocate here to just address 

1440
01:21:04,920 --> 01:21:08,360
all, because address all the, 
the attacking points from the 

1441
01:21:08,360 --> 01:21:13,920
media and from the, how do I say
this, from the, from the death 

1442
01:21:13,920 --> 01:21:19,360
cult of humanity, which is the 
people that believe that somehow

1443
01:21:19,360 --> 01:21:22,880
losing, using less energy is 
going to make the world a better

1444
01:21:22,880 --> 01:21:24,600
place. 
But I would argue the exact 

1445
01:21:24,600 --> 01:21:27,400
opposite. 
One of the arguments that they 

1446
01:21:27,400 --> 01:21:32,240
would say is the storage of, of 
used rods. 

1447
01:21:32,680 --> 01:21:36,480
I think that's the correct term.
So, you know, they kind of 

1448
01:21:36,480 --> 01:21:38,360
haven't really figured out like 
that. 

1449
01:21:38,360 --> 01:21:41,280
Like right now I think they just
they, they put them in like a 

1450
01:21:41,280 --> 01:21:45,720
concrete coffin and they kind of
leave them on sight and, you 

1451
01:21:45,720 --> 01:21:48,360
know, they stay radioactive for 
I think it's a couple thousand 

1452
01:21:48,360 --> 01:21:51,960
years or so. 
Is that overblown as well? 

1453
01:21:53,520 --> 01:21:59,920
Once again, I would say it 
depends on what your it's kind 

1454
01:21:59,920 --> 01:22:02,080
of like when you assess risk of 
any kind, right? 

1455
01:22:02,240 --> 01:22:05,600
Certain people say that some 
risk is acceptable, others would

1456
01:22:05,600 --> 01:22:09,400
say no risk is acceptable. 
There's a spectrum there and 

1457
01:22:09,400 --> 01:22:11,720
certain people are going to fall
in certain places. 

1458
01:22:11,920 --> 01:22:16,760
For me personally, if you've got
a really thick concrete casket 

1459
01:22:16,760 --> 01:22:21,440
that's storing your fission 
byproducts, you know, you can, 

1460
01:22:21,840 --> 01:22:24,960
you can stand right next to one.
You know, I'm, I'm not right 

1461
01:22:24,960 --> 01:22:27,560
next to it, but I'm in the 
vicinity of one now having this 

1462
01:22:27,840 --> 01:22:31,040
conversation with you guys and 
I'm not, you know, glowing green

1463
01:22:31,040 --> 01:22:33,480
with three eyes. 
Your eyes are technically 

1464
01:22:33,480 --> 01:22:40,520
glowing green right now. 
But you know it, if you look at 

1465
01:22:40,520 --> 01:22:44,320
storage on site locally, for 
example, we used to actually 

1466
01:22:44,320 --> 01:22:47,320
truck all of the waste to a 
storage facility. 

1467
01:22:47,680 --> 01:22:51,600
And then there was some 
controversy around that and some

1468
01:22:51,600 --> 01:22:54,680
laws were passed where it was 
basically like, hey, we're going

1469
01:22:54,680 --> 01:22:56,880
to store it on site at each 
facility now. 

1470
01:22:57,280 --> 01:23:01,400
And there are many ways that you
can handle the storage of 

1471
01:23:01,400 --> 01:23:03,640
nuclear waste. 
In fact, there are next Gen. 

1472
01:23:03,680 --> 01:23:06,200
reactors that can take that 
waste and then use it to 

1473
01:23:06,200 --> 01:23:10,160
generate more energy. 
Some of the molten salt reactors

1474
01:23:10,160 --> 01:23:12,920
which are pretty interesting 
technology as well. 

1475
01:23:13,240 --> 01:23:15,600
Probably once again, not a 
tangent we would want to go on 

1476
01:23:15,600 --> 01:23:18,800
right now, but the point is 
there are solutions, whether 

1477
01:23:18,800 --> 01:23:22,320
it's storing it in the butt 
underneath the ground in a 

1478
01:23:22,320 --> 01:23:27,040
mountain somewhere and or 
actually just recycling that 

1479
01:23:27,040 --> 01:23:29,400
waste, using it to generate 
more, more energy. 

1480
01:23:29,600 --> 01:23:34,080
A lot of the isotopes are 
actually valuable for medical 

1481
01:23:34,080 --> 01:23:37,400
devices and or various forms of 
medicine. 

1482
01:23:37,400 --> 01:23:40,320
So there's a lot of uses for it.
It doesn't necessarily have to 

1483
01:23:40,320 --> 01:23:43,360
just be put in a concrete cask 
and sat on site. 

1484
01:23:43,600 --> 01:23:47,040
But even if that is what you do,
we'll still, once again, you 

1485
01:23:47,040 --> 01:23:49,440
line it with lead, you surround 
it with concrete. 

1486
01:23:49,720 --> 01:23:54,440
And you know, aside from 
somebody really nefariously 

1487
01:23:54,440 --> 01:23:57,680
trying to, to do something to 
damage it, which if they did, 

1488
01:23:57,680 --> 01:24:00,760
they would need a lot of 
firepower, to me, it's a non 

1489
01:24:00,760 --> 01:24:03,600
issue. 
But once again, I recognize that

1490
01:24:03,600 --> 01:24:06,400
I'm very biased because it's the
field that I work in. 

1491
01:24:06,400 --> 01:24:09,960
And I do think that being said, 
because I'm rad worker 

1492
01:24:09,960 --> 01:24:13,400
certified, I understand 
radiation like to a degree that 

1493
01:24:13,400 --> 01:24:16,800
the average person doesn't. 
I, I think that gives me a 

1494
01:24:16,800 --> 01:24:20,720
certain level of comfort that if
somebody that just hasn't been 

1495
01:24:20,720 --> 01:24:23,800
exposed to it doesn't have the 
knowledge, you know, it. 

1496
01:24:23,960 --> 01:24:27,200
Once again, people are used to 
be scared of electricity when it

1497
01:24:27,200 --> 01:24:30,600
wasn't a common thing that we 
were all experiencing in our 

1498
01:24:30,600 --> 01:24:33,320
day-to-day lives. 
And now nobody thinks twice 

1499
01:24:33,320 --> 01:24:35,200
about flipping a switch and the 
lights come on. 

1500
01:24:35,200 --> 01:24:38,200
It's just a part of life. 
And so I think there's 

1501
01:24:38,200 --> 01:24:41,640
absolutely a place where nuclear
could get to there. 

1502
01:24:41,640 --> 01:24:45,200
And I think we were on that 
trajectory until unfortunately, 

1503
01:24:45,200 --> 01:24:48,880
you had some pretty strong 
propaganda against technology. 

1504
01:24:48,880 --> 01:24:53,280
So that's my general take on it.
Technically it's not propaganda,

1505
01:24:53,280 --> 01:24:59,000
it's media literacy, but but no 
in in regards. 

1506
01:24:59,000 --> 01:25:01,680
And again, the reason I played 
devil's advocate is because I 

1507
01:25:01,680 --> 01:25:04,480
kind of want to just lay out all
of the counter arguments against

1508
01:25:04,480 --> 01:25:07,400
nuclear energy. 
Now, what would your argument be

1509
01:25:07,680 --> 01:25:10,480
for? 
For example, why shouldn't we 

1510
01:25:10,480 --> 01:25:12,120
build that? 
Like for me, it's just so 

1511
01:25:12,120 --> 01:25:14,760
incredibly obvious. 
But like, why shouldn't we build

1512
01:25:14,760 --> 01:25:19,960
out these giant solar farms and 
these giant wind farms, like 

1513
01:25:20,040 --> 01:25:23,640
they don't have the dangers of 
radiation And you know, the 

1514
01:25:23,640 --> 01:25:27,320
renewable man, like, you know, 
we can just use all these 

1515
01:25:27,320 --> 01:25:30,960
renewable sources. 
Like what, why should we focus 

1516
01:25:30,960 --> 01:25:35,480
on nuclear energy versus, you 
know, these giant, you know, 

1517
01:25:35,520 --> 01:25:38,440
they, they always say renewable,
but you know, those rare earth 

1518
01:25:38,440 --> 01:25:40,800
metals required for those solar 
panels, bro. 

1519
01:25:40,800 --> 01:25:44,440
And the amount of birds those 
wind turbines are killing man. 

1520
01:25:44,440 --> 01:25:47,880
No one likes to talk about that.
But what's your take? 

1521
01:25:47,880 --> 01:25:49,760
What's your take on all that? 
Yeah. 

1522
01:25:49,760 --> 01:25:54,160
So that's why I'm primarily 
against grid scale solar, right?

1523
01:25:54,160 --> 01:25:59,920
Like I said, I think if you want
redundancy at your house and you

1524
01:25:59,920 --> 01:26:02,960
know, in the event of a storm or
something, you lose connection 

1525
01:26:02,960 --> 01:26:05,760
to the grid temporarily, you've 
got some solar panels and a 

1526
01:26:05,760 --> 01:26:08,120
battery backup. 
I think from an individual 

1527
01:26:08,120 --> 01:26:11,040
sovereignty standpoint, it's 
actually not a bad move to have 

1528
01:26:11,040 --> 01:26:14,280
something like that. 
But if we're talking about 

1529
01:26:14,280 --> 01:26:17,560
trying to power the grid, which 
is a whole different, you know, 

1530
01:26:17,560 --> 01:26:20,120
thing, right? 
It's an interconnected massive 

1531
01:26:20,120 --> 01:26:23,520
machine. 
And adding instability to a 

1532
01:26:23,520 --> 01:26:26,200
machine is just generally 
speaking, never a good thing, 

1533
01:26:26,200 --> 01:26:28,280
right? 
If if I told you, hey man, I 

1534
01:26:28,280 --> 01:26:32,680
really want to make one of your 
tires on your car square, you'd 

1535
01:26:32,680 --> 01:26:34,480
look at me like I was crazy, 
right? 

1536
01:26:34,720 --> 01:26:37,320
And it's like, no, that's 
incompatible with my car's 

1537
01:26:37,320 --> 01:26:38,920
functionality. 
Like that doesn't make any 

1538
01:26:38,920 --> 01:26:41,320
sense. 
And that's kind of like what 

1539
01:26:41,320 --> 01:26:44,160
wind and solar do to the grid. 
They destabilize it, right? 

1540
01:26:44,200 --> 01:26:46,520
You're adding intermittent 
sources of energy. 

1541
01:26:46,920 --> 01:26:51,000
And I would say even beyond some
of the points that you brought 

1542
01:26:51,000 --> 01:26:56,200
up where renewable, not really, 
right, because the, the fine 

1543
01:26:56,200 --> 01:26:58,760
print there, if you read it is, 
well, you got to replace the 

1544
01:26:58,760 --> 01:27:01,680
wind turbines every six to 10 
years. 

1545
01:27:02,000 --> 01:27:06,160
And the solar panels, you have a
hailstorm and they're all FUBAR.

1546
01:27:06,160 --> 01:27:10,920
So, you know, you got to replace
the entire 5000 acres solar farm

1547
01:27:10,920 --> 01:27:12,800
just because you have one 
thunderstorm. 

1548
01:27:12,800 --> 01:27:15,840
And oh, by the way, all the 
places that have a lot of sun 

1549
01:27:15,840 --> 01:27:18,920
tend to also have thunderstorms.
So that's the thing, right? 

1550
01:27:19,040 --> 01:27:21,440
You know any They're sensitive 
to weather events. 

1551
01:27:22,440 --> 01:27:25,280
Yeah, it's, it's almost like as 
if there's like night time and 

1552
01:27:25,280 --> 01:27:28,080
then like there's times where 
there's no wind, you know, like,

1553
01:27:28,080 --> 01:27:33,120
yeah, it isn't that interesting.
So the reason and, and we are 

1554
01:27:33,120 --> 01:27:34,600
getting close to the top of the 
show. 

1555
01:27:34,600 --> 01:27:38,440
And I do want to make it full 
circle guys, cuz we again, we 

1556
01:27:38,440 --> 01:27:41,120
guys know the theme of the show.
We will be your guide through 

1557
01:27:41,120 --> 01:27:44,120
the separation of money and 
state and all the topics that we

1558
01:27:44,120 --> 01:27:48,680
talked about today, whether 
highlighting the insanity of the

1559
01:27:48,680 --> 01:27:52,040
proposed income tax, you know, 
highlighting the 

1560
01:27:52,040 --> 01:27:56,160
disintermediation of information
and now highlighting the 

1561
01:27:56,160 --> 01:28:01,840
importance of Bitcoin and energy
macro macro minutes, Matt, like 

1562
01:28:02,040 --> 01:28:05,200
what is like, why is it a match 
made in heaven? 

1563
01:28:05,440 --> 01:28:09,800
And my final question to you is,
how is Bitcoin going to 

1564
01:28:09,800 --> 01:28:13,240
fundamentally change the end of 
energy industry for the better? 

1565
01:28:15,680 --> 01:28:18,120
Easy question, super simple 
answers, right? 

1566
01:28:18,160 --> 01:28:28,240
No, it's such a, it's such a, a 
novel thing to have a flexible 

1567
01:28:28,240 --> 01:28:31,960
demand for a grid. 
And that is the really important

1568
01:28:31,960 --> 01:28:35,560
thing to understand, right, is 
the grid is designed, it's built

1569
01:28:35,560 --> 01:28:39,760
with an excess of capacity so 
that it can respond to any new 

1570
01:28:39,760 --> 01:28:43,160
demands coming in. 
So you're always producing more 

1571
01:28:43,160 --> 01:28:46,120
than the grid is demanding 
because at any moment the grid 

1572
01:28:46,120 --> 01:28:49,040
may demand more and there's a 
response time. 

1573
01:28:49,800 --> 01:28:56,480
Well, Bitcoin mining shifts that
to where the energy generation 

1574
01:28:56,480 --> 01:29:01,240
facilities can just generate at 
a steady rate and the grid 

1575
01:29:01,240 --> 01:29:05,000
operators can basically just 
tell the miners to shut off if 

1576
01:29:05,000 --> 01:29:08,160
they need more capacity to go to
other places. 

1577
01:29:08,160 --> 01:29:11,720
And in fact, the miners want to 
do that anyways because when 

1578
01:29:11,720 --> 01:29:14,720
everybody else is demanding more
energy, I tell people this all 

1579
01:29:14,720 --> 01:29:17,400
the time on my spaces. 
I'm like, you're actually 

1580
01:29:17,400 --> 01:29:20,960
willing to pay more for your 
electricity to make toast in the

1581
01:29:20,960 --> 01:29:24,080
morning than a Bitcoin miner is 
to make Bitcoin. 

1582
01:29:24,440 --> 01:29:26,480
That's how cheap bitcoiners are,
right? 

1583
01:29:27,240 --> 01:29:32,960
They will not out compete you on
on price per kWh, but what they 

1584
01:29:32,960 --> 01:29:37,240
do in stabilizing the overall 
system is lower that cost for 

1585
01:29:37,240 --> 01:29:40,200
everybody else around. 
And that's just such a novel 

1586
01:29:40,200 --> 01:29:42,360
thing. 
It's so important for human 

1587
01:29:42,360 --> 01:29:44,480
flourishing. 
Like if you tell people, hey, 

1588
01:29:44,480 --> 01:29:47,880
having Bitcoin miners in your 
area will lower your electricity

1589
01:29:47,880 --> 01:29:50,880
prices, They may look at you a 
little cross eyed because 

1590
01:29:50,880 --> 01:29:52,440
they've probably been told the 
opposite. 

1591
01:29:52,440 --> 01:29:54,160
But that is literally what 
happens. 

1592
01:29:54,160 --> 01:29:56,800
And to me that's that's just so 
powerful. 

1593
01:29:56,800 --> 01:29:59,200
It's like, who doesn't want to 
have a cheaper electricity bill,

1594
01:29:59,240 --> 01:30:02,240
right? 
A million percent, 1,000,000%. 

1595
01:30:02,240 --> 01:30:05,320
And, and I, and this is by the 
way, like this isn't fury 

1596
01:30:05,320 --> 01:30:07,080
anymore. 
This is actually happening in 

1597
01:30:07,080 --> 01:30:09,720
Texas. 
Like Texas is providing 

1598
01:30:09,720 --> 01:30:13,680
stability for the Texas grid. 
It's actually allowing the 

1599
01:30:13,680 --> 01:30:17,320
rollout of renewable energy 
sources without the necessity of

1600
01:30:17,320 --> 01:30:21,200
government subsidy because all 
of a sudden, because they are, 

1601
01:30:21,440 --> 01:30:25,160
you know, there isn't sun all 
the time, there isn't wind all 

1602
01:30:25,160 --> 01:30:30,200
the time, and you want a stable 
grid, Bitcoiners are always that

1603
01:30:30,200 --> 01:30:33,240
buyer of last resort. 
So it allows the grid operators 

1604
01:30:33,240 --> 01:30:36,520
to kind of plan ahead because 
they know that the bitcoiners, 

1605
01:30:36,520 --> 01:30:38,240
the Bitcoin miners are always 
going to be like, hey, give it 

1606
01:30:38,240 --> 01:30:39,800
to me if you no one's going to 
take it. 

1607
01:30:40,120 --> 01:30:46,160
So yeah, man, it's. 
You know, really quick 11 like 

1608
01:30:46,160 --> 01:30:49,240
slightly different way to to say
that right is because you just 

1609
01:30:49,240 --> 01:30:53,120
mentioned the subsidies piece. 
Bitcoin mining is so powerful 

1610
01:30:53,120 --> 01:30:56,360
for the grid that it takes 
technologies that makes no sense

1611
01:30:56,360 --> 01:30:59,560
otherwise, and it actually makes
them make sense, right? 

1612
01:31:00,040 --> 01:31:02,920
Because wind and solar made no 
sense for the grid without 

1613
01:31:02,920 --> 01:31:06,440
massive battery backup before. 
But Bitcoin mining actually 

1614
01:31:06,440 --> 01:31:09,240
makes a technology that makes no
sense for the grid start to 

1615
01:31:09,240 --> 01:31:12,360
actually make sense. 
And that just tells you by 

1616
01:31:12,360 --> 01:31:15,600
itself how powerful it is. 
And I would just say one last 

1617
01:31:15,600 --> 01:31:18,360
point of clarity, because I've 
gotten this feedback before, is 

1618
01:31:18,360 --> 01:31:21,920
that I, I come across as like 
kind of a nuclear only guy who's

1619
01:31:21,920 --> 01:31:24,560
anti wind, anti solar. 
And, and I'm definitely not, I'm

1620
01:31:24,560 --> 01:31:28,280
a pro free market person. 
If you want to contribute to the

1621
01:31:28,280 --> 01:31:32,600
grid, whether it's burning coal,
burning oil, natural gas, 

1622
01:31:32,600 --> 01:31:35,000
nuclear, wind, solar, I really 
don't care. 

1623
01:31:35,000 --> 01:31:37,840
I just think it should have to 
compete in an open free market 

1624
01:31:37,840 --> 01:31:40,560
on its own merits. 
And as long as you're able to 

1625
01:31:40,560 --> 01:31:43,080
produce electricity at a 
reasonable cost, I think you 

1626
01:31:43,080 --> 01:31:44,760
should be allowed to 
participate. 

1627
01:31:45,600 --> 01:31:47,080
Amen to that. 
Amen to that. 

1628
01:31:47,360 --> 01:31:50,160
All right, everybody, this was 
Simply Bitcoin Live for August 

1629
01:31:50,160 --> 01:31:52,560
21st, 2024. 
I'm your host Nico. 

1630
01:31:52,560 --> 01:31:55,560
This is my Co host, Optimus 
Fields, and this is our guest 

1631
01:31:55,560 --> 01:31:58,000
for today, Matt from Macro 
Minutes. 

1632
01:31:58,000 --> 01:31:59,640
Take care everybody. 
We'll see you tomorrow for a 

1633
01:31:59,640 --> 01:32:01,840
brand new episode of Simply 
Bitcoin Live. 

1634
01:32:04,640 --> 01:32:08,120
It was brought to you by 
bitcoinwell.com on a mission to 

1635
01:32:08,160 --> 01:32:09,440
enable independence.