1 00:00:00,400 --> 00:00:04,000 Yo, in a recent interview that I had with Samson Mao, he 2 00:00:04,000 --> 00:00:09,480 predicted that we will see $1 million Bitcoin faster than most 3 00:00:09,480 --> 00:00:13,440 people are expecting. And some of Samson's reasoning 4 00:00:13,440 --> 00:00:17,640 for Y has to do with the recent interview of Anthony Scaramucci 5 00:00:17,680 --> 00:00:20,440 where he dropped some bombshell information. 6 00:00:20,760 --> 00:00:25,120 But before we get into what Scaramucci exactly said, let's 7 00:00:25,120 --> 00:00:28,080 play the clip from the Samsung interview. 8 00:00:28,080 --> 00:00:32,040 Let's check it out. You are saying $1 million 9 00:00:32,040 --> 00:00:34,800 Bitcoin. What, what's the logic behind 10 00:00:34,800 --> 00:00:35,600 that? Like what? 11 00:00:35,880 --> 00:00:38,560 And and not only $1 million Bitcoin, which we all know is 12 00:00:38,560 --> 00:00:41,920 going to come eventually, but $1 million Bitcoin in a very, very 13 00:00:41,920 --> 00:00:44,320 short amount of time. Right. 14 00:00:44,320 --> 00:00:47,800 So I think the key message I'm trying to get across is that the 15 00:00:47,800 --> 00:00:50,400 macro environment has fundamentally changed. 16 00:00:50,880 --> 00:00:54,320 And then I did some analysis and other people like Macronaut and 17 00:00:54,400 --> 00:00:56,720 Bit Pain and others have also done the math too. 18 00:00:57,200 --> 00:01:00,800 And Bitcoin going up 20X is not a difficult thing. 19 00:01:00,800 --> 00:01:02,480 It's done it sometimes in the past. 20 00:01:02,480 --> 00:01:06,200 So the key here is that everything is different now with 21 00:01:06,200 --> 00:01:09,480 the ETFs, with the amount of money able to flow into the 22 00:01:10,120 --> 00:01:14,480 Bitcoin ecosystem and we can very rapidly go up to 1,000,000. 23 00:01:14,640 --> 00:01:16,840 Whether we stay there or not, it's a different question, but 24 00:01:16,960 --> 00:01:21,240 just the lack of supply because we are constrained, there's 25 00:01:21,240 --> 00:01:26,680 about 1.4, maybe 1.6 million BTC on exchanges right now. 26 00:01:27,000 --> 00:01:30,120 That's not a lot, and at some point it's going to dry up, 27 00:01:30,120 --> 00:01:33,440 especially at the rate at which the ETS are hoovering up all the 28 00:01:33,440 --> 00:01:36,000 coins at the moment. I'm assuming you don't believe 29 00:01:36,000 --> 00:01:38,680 in the diminishing returns. Theory, not really. 30 00:01:38,680 --> 00:01:43,280 I mean, we talk often about hyper bitcoinization and if you 31 00:01:43,280 --> 00:01:47,320 believe in hyper bitcoinization, then it's impossible to believe 32 00:01:47,320 --> 00:01:52,040 in diminishing returns because there should be no cycles to 33 00:01:52,040 --> 00:01:54,240 Bitcoin. If you're going to reach the 34 00:01:54,240 --> 00:01:57,400 point of hyper bitcoinization whereby we replace all Fiat 35 00:01:57,400 --> 00:02:00,080 money, then there is nothing to go back to. 36 00:02:00,200 --> 00:02:03,160 So what are you measuring the returns in, right. 37 00:02:03,160 --> 00:02:06,680 If the US dollar no longer exists, then how can you have 38 00:02:06,680 --> 00:02:10,160 diminishing returns? So I guess there's two parts 39 00:02:10,160 --> 00:02:12,400 there. 1 is will there be another cycle? 40 00:02:13,120 --> 00:02:16,440 And I'm not really sure. Like just because we had three 41 00:02:16,440 --> 00:02:19,960 similar looking cycles in the past does not mean that we're 42 00:02:19,960 --> 00:02:21,400 always going to have this cycle, right? 43 00:02:21,400 --> 00:02:25,240 Because it's like flipping a coin, you get heads three times 44 00:02:25,400 --> 00:02:28,040 doesn't mean the next time it's more likely you're going to get 45 00:02:28,040 --> 00:02:31,080 tails. It's a different, it's a 46 00:02:31,080 --> 00:02:32,680 different equation every single time. 47 00:02:33,160 --> 00:02:39,080 And the other part is, well, if Bitcoin does replace Fiat, then 48 00:02:39,680 --> 00:02:42,560 there is no diminishing returns. You just Bitcoin now. 49 00:02:42,560 --> 00:02:45,720 So it's not really possible to measure returns. 50 00:02:49,400 --> 00:02:52,120 So I mean, there you have it from Samsung Mao himself. 51 00:02:52,120 --> 00:02:56,160 I'm here joined by Chris Alamo and of course, our special guest 52 00:02:56,160 --> 00:02:59,480 today, Jack from Thunder Games. Welcome, boys. 53 00:02:59,480 --> 00:03:01,800 Welcome. Happy to have you guys on the 54 00:03:01,800 --> 00:03:05,240 show. And look, I have more of more 55 00:03:05,240 --> 00:03:09,880 from Samsung recently from the Michael Saylor 100K party. 56 00:03:10,040 --> 00:03:11,800 I was there. It was absolutely awesome. 57 00:03:11,800 --> 00:03:14,560 We're going to talk a little bit more about it in the culture 58 00:03:14,560 --> 00:03:16,640 segment. You can drop questions in the 59 00:03:16,640 --> 00:03:18,800 chat. I'll, I'll try to answer them, 60 00:03:19,440 --> 00:03:22,880 but here is a more recent interview with Samson, now with 61 00:03:22,880 --> 00:03:27,240 Issa Los Santos from the 100K party at Michael Saylor's house 62 00:03:27,240 --> 00:03:28,680 for New Year's. Let's check it out. 63 00:03:30,640 --> 00:03:33,360 Speaking of, you know, politicians and everything, do 64 00:03:33,360 --> 00:03:39,400 you think Bitcoin, well, Trump would do his conquest and keep 65 00:03:39,400 --> 00:03:42,680 his promise of reaching, you know, and having a Bitcoin 66 00:03:42,720 --> 00:03:44,800 reserve? I think so. 67 00:03:44,800 --> 00:03:46,760 It's really that they have no choice. 68 00:03:46,760 --> 00:03:50,000 They have to create the Bitcoin reserve. 69 00:03:50,000 --> 00:03:53,200 They need to buy Bitcoin simply because they need to shore up 70 00:03:53,200 --> 00:03:56,560 the US dollar and strengthen it. And I think they view it more as 71 00:03:56,560 --> 00:04:00,640 a measure to boost the dollar. But ultimately I think it ends 72 00:04:00,640 --> 00:04:08,080 up killing the dollar and it. So again, a couple reasons here. 73 00:04:08,080 --> 00:04:10,960 Let's unpack them. First, the ETF, right? 74 00:04:11,480 --> 00:04:15,280 And then of course, the incoming Trump administration. 75 00:04:15,600 --> 00:04:19,079 And they made the announcement in Nashville about potentially 76 00:04:19,279 --> 00:04:21,800 introducing a Bitcoin strategic reserve. 77 00:04:22,040 --> 00:04:25,640 And this started a domino effect all over the world. 78 00:04:25,640 --> 00:04:28,080 We have politicians coming out of Brazil. 79 00:04:28,200 --> 00:04:30,400 We have politicians coming out of Russia. 80 00:04:30,560 --> 00:04:33,440 We have politicians coming out of the individual states like 81 00:04:33,440 --> 00:04:36,600 the state of Pennsylvania, the state of Ohio, the state of 82 00:04:36,600 --> 00:04:38,640 Texas. Of course, a lot of that works 83 00:04:38,640 --> 00:04:41,320 being done by the Satoshi Action Fund and Dennis Porter. 84 00:04:41,520 --> 00:04:45,720 So this talk of a strategic Bitcoin reserve is not just a 85 00:04:45,720 --> 00:04:48,880 phenomenon in the United States. It's a phenomenon happening 86 00:04:48,880 --> 00:04:52,240 worldwide. the United States could be the catalyst. 87 00:04:52,240 --> 00:04:54,720 However, and I just want to remind everybody, the United 88 00:04:54,720 --> 00:04:58,600 States is not first to do this. El Salvador already has a 89 00:04:58,600 --> 00:05:01,320 reserve. In fact, when they got that loan 90 00:05:01,320 --> 00:05:05,360 from the IMF, it seems like they use some of that loan money to 91 00:05:05,360 --> 00:05:09,080 buy even more Bitcoin, which is absolutely badass by Naimbu 92 00:05:09,080 --> 00:05:10,800 Kelly. But I know what a lot of you 93 00:05:10,800 --> 00:05:13,160 guys are thinking. You know, a lot of politicians, 94 00:05:13,280 --> 00:05:16,720 they talk a lot, you know, they say things, they pander to 95 00:05:16,720 --> 00:05:18,600 voters. And then with it, when they get 96 00:05:18,600 --> 00:05:21,800 into office, they don't really come true. 97 00:05:22,000 --> 00:05:25,960 Well, here's Anthony Scaramucci essentially talking about how 98 00:05:26,120 --> 00:05:29,960 Trump actually might have the votes in the legislative branch 99 00:05:29,960 --> 00:05:32,560 of the United States was as the House of Representatives, as the 100 00:05:32,560 --> 00:05:35,720 lower house and then the Senate, which is the upper house, he 101 00:05:35,720 --> 00:05:39,880 actually might have the votes to get this bill passed. 102 00:05:40,080 --> 00:05:43,520 And if you look at the Poly market ads and I like the 103 00:05:43,520 --> 00:05:47,240 betting odds markets, they're a lot more accurate at predicting 104 00:05:47,240 --> 00:05:50,640 events. It, it's, it's around 30-4. 105 00:05:50,760 --> 00:05:53,040 It was at an all time high like 48%. 106 00:05:53,040 --> 00:05:55,120 So I mean, that's pretty, pretty significant. 107 00:05:55,440 --> 00:06:00,040 And I agree with with Samson, I think that if a law gets passed 108 00:06:00,040 --> 00:06:03,320 and, or even if Trump does it by executive order, anything 109 00:06:03,320 --> 00:06:06,560 related to Bitcoin, I would not be surprised. 110 00:06:06,560 --> 00:06:09,520 And again, this is a big statement, but I would not be 111 00:06:09,520 --> 00:06:13,840 surprised if we saw a half $1,000,000 Bitcoin next year. 112 00:06:13,960 --> 00:06:17,480 I mean, this year it's already 2025 and the inauguration is 113 00:06:17,480 --> 00:06:20,280 literally 18 days from now. So anyways, I'm going to play 114 00:06:20,280 --> 00:06:22,920 you guys the clip by Anthony Scaramucci, and then we're going 115 00:06:22,920 --> 00:06:25,080 to open it up to the panel and have a discussion. 116 00:06:25,080 --> 00:06:28,160 Let's check it out. You think we'll get a strategic 117 00:06:28,160 --> 00:06:29,360 Bitcoin reserve? You think that's? 118 00:06:29,400 --> 00:06:31,520 What I do actually? What does that look like, TJ? 119 00:06:31,960 --> 00:06:35,760 They've got the votes. Haggerty wants it, McCormick 120 00:06:35,760 --> 00:06:36,880 wants it. They have the. 121 00:06:36,880 --> 00:06:38,480 Votes in the Senate, do you think? 122 00:06:38,520 --> 00:06:40,080 I think so, yeah. There's really. 123 00:06:40,840 --> 00:06:43,000 I do think so. Yes, for like to to her bill to 124 00:06:43,000 --> 00:06:46,040 get a million Bitcoin, right. That was her full bill, right. 125 00:06:46,120 --> 00:06:49,400 So keep it to 20,000 then. This stuff gets horse traded, so 126 00:06:49,440 --> 00:06:53,120 you'll you'll probably have 200 won't get sold. 127 00:06:53,520 --> 00:06:59,040 They'll probably buy another 4 or 500,000 Bitcoin over the 128 00:06:59,040 --> 00:07:00,720 next. Oh, you don't think this can 129 00:07:00,720 --> 00:07:01,800 happen? Senator Talk. 130 00:07:01,800 --> 00:07:03,680 Let me tell you why I think it will happen. 131 00:07:03,680 --> 00:07:09,560 OK, Trump wants it to happen and he's got the Senate Banking 132 00:07:09,560 --> 00:07:12,440 Committee. Tim Scott wants it to happen. 133 00:07:12,440 --> 00:07:14,520 He's going to be the chair of the Senate Banking Committee, 134 00:07:14,960 --> 00:07:19,960 but sent wants it to happen. If you're telling me there are 135 00:07:19,960 --> 00:07:23,120 no Democrats, and I don't believe this because a lot of 136 00:07:23,120 --> 00:07:25,800 Democrats voted for the Saab 121 bill. 137 00:07:25,800 --> 00:07:29,320 If you looked at the dispersion of vote, it was a bipartisan 138 00:07:29,800 --> 00:07:33,120 approval of that bill. And by the way, Ryan, it was if 139 00:07:33,120 --> 00:07:38,280 you were 40 or 50, let's say you were below the age of 60, you 140 00:07:38,280 --> 00:07:40,640 voted for the bill. If you were a Democrat, if you 141 00:07:40,640 --> 00:07:44,320 were a fossil like Elizabeth Warren, Oregon, Sherrod Brown, 142 00:07:44,640 --> 00:07:48,800 you voted against it. So if you're telling me there 143 00:07:48,800 --> 00:07:52,280 are no Democrats that are going to vote for that, then I'll say, 144 00:07:52,280 --> 00:07:53,760 OK, then we're not going to get it. 145 00:07:54,040 --> 00:07:56,160 But I don't see that. I think Roe, Connor would vote 146 00:07:56,160 --> 00:07:57,360 for it. I think there's a lot of 147 00:07:57,360 --> 00:08:02,200 Democrats that look at it and say if Bitcoin is digital gold 148 00:08:02,720 --> 00:08:10,160 and we have $600 billion of gold on reserve at our bank in the 149 00:08:10,160 --> 00:08:14,640 Federal Reserve Bank, you're telling me we couldn't put 75 to 150 00:08:15,040 --> 00:08:20,040 100? So let's summarize this is wee 151 00:08:20,040 --> 00:08:22,480 bit back in because there's a lot of components here, right? 152 00:08:22,480 --> 00:08:25,480 You have Samsung Mao basically saying Nico, you know what, I 153 00:08:25,480 --> 00:08:29,920 think diminishing returns is BS. You have Samsung now essentially 154 00:08:29,920 --> 00:08:32,000 saying, you know what? And he was saying it when 155 00:08:32,000 --> 00:08:36,440 Bitcoin was at 50K bitcoins at 100K it's only or roughly 100K, 156 00:08:36,440 --> 00:08:40,400 it's only at 10X to $1,000,000. Like that's not that crazy in 157 00:08:40,400 --> 00:08:44,960 Bitcoin terms. But if you take into account the 158 00:08:45,040 --> 00:08:49,520 approval of the spot Bitcoin ETF allowing massive institutional 159 00:08:49,520 --> 00:08:53,440 inflows and then you have of course micro sailors, 160 00:08:53,600 --> 00:08:59,040 MicroStrategy like a corporate, a corporate treasury strategy 161 00:08:59,280 --> 00:09:03,560 being vindicated in 2024. And then of course, the United 162 00:09:03,560 --> 00:09:07,040 States going in and other nation states that have the power of 163 00:09:07,040 --> 00:09:11,320 money printers going in there and not only buying Bitcoin, but 164 00:09:11,320 --> 00:09:15,000 also basically giving it a rubber stamp of approval saying, 165 00:09:15,000 --> 00:09:18,400 you know what, this thing is legit in the eyes of countries. 166 00:09:18,560 --> 00:09:22,520 You know, all the stars and planets are aligning for this 167 00:09:22,520 --> 00:09:24,640 year. 2025. I have to get used to in my 168 00:09:24,640 --> 00:09:28,400 head, we're already in 2025 to be a very, very explosive year 169 00:09:28,400 --> 00:09:31,240 for Bitcoin. And again, like I said, if this 170 00:09:31,240 --> 00:09:35,520 strategic Bitcoin reserve thing comes to fruition, I would not 171 00:09:35,520 --> 00:09:40,320 be surprised whatsoever if we hit half $1,000,000 per Bitcoin 172 00:09:40,560 --> 00:09:44,440 by the end of the year. We shall see. 18 days until the 173 00:09:44,440 --> 00:09:48,360 inaugural. We also have to hold Trump 174 00:09:48,360 --> 00:09:52,000 accountable for his promise to Bitcoiners for freeing Ross 175 00:09:52,000 --> 00:09:54,040 Ulbricht. But man, it's really, really 176 00:09:54,040 --> 00:09:56,280 exciting. One last thing I'll say is 177 00:09:56,440 --> 00:10:01,200 historically, Bitcoin tends to have the parabola year, the year 178 00:10:01,240 --> 00:10:03,840 after the halving. If you look at throughout all of 179 00:10:03,840 --> 00:10:07,280 Bitcoin's history, the halving year is pretty good, but it's 180 00:10:07,280 --> 00:10:10,600 the year after the halving that you get the vast majority of the 181 00:10:10,600 --> 00:10:15,440 returns, and that is 2025. That is this year, so very 182 00:10:15,440 --> 00:10:18,240 exciting stuff. Overall, I agree with Samsung. 183 00:10:18,240 --> 00:10:20,560 I think we're going to see $1,000,000 Bitcoin a lot sooner 184 00:10:20,560 --> 00:10:23,040 than people anticipated. Anyways, I want to pass it on to 185 00:10:23,040 --> 00:10:26,120 my Co host today, the legendary Chris Alamo in the house. 186 00:10:26,320 --> 00:10:28,040 Chris, what are your takes on Samsung? 187 00:10:28,040 --> 00:10:30,320 Is he being too bullish? What's your take? 188 00:10:32,280 --> 00:10:34,160 How's it going guys? How's it going, gentlemen? 189 00:10:34,160 --> 00:10:37,360 Happy new year, happy 2025. Excited to be here with you guys 190 00:10:37,360 --> 00:10:39,880 as always. Yeah, I think he's being a 191 00:10:39,880 --> 00:10:41,800 little too bullish. I maybe, I hate to say that I'm 192 00:10:41,800 --> 00:10:46,360 the bear, but I do think while we are ecstatic about the 193 00:10:46,360 --> 00:10:49,800 Bitcoin reserve, you know, the Bitcoin strategic reserve, I do 194 00:10:49,800 --> 00:10:51,320 think, you know, I trust Polymarket. 195 00:10:51,320 --> 00:10:53,640 They were a reliable source of heading into the elections. 196 00:10:53,800 --> 00:10:56,360 They kind of only give it a 30% chance of it happening. 197 00:10:56,720 --> 00:10:59,840 You know, I guess we're still pre Trump taking office, but 198 00:10:59,840 --> 00:11:02,280 right now they're still pricing a 30% chance that it actually 199 00:11:02,280 --> 00:11:04,720 occurs. That being aside, I know Eric 200 00:11:04,720 --> 00:11:07,840 Trump spoke at Bitcoin Mana and was talking about that they're 201 00:11:07,840 --> 00:11:10,440 really excited to make a Bitcoin strategic reserve. 202 00:11:10,640 --> 00:11:13,080 The one thing that I'll I'll caveat with Trump and his family 203 00:11:13,080 --> 00:11:15,280 is their real estate guys. And while we're excited that 204 00:11:15,280 --> 00:11:17,520 they're happy about Bitcoin, I wouldn't call them Bitcoin 205 00:11:17,520 --> 00:11:18,960 Maxis. I mean, you've kind of seen 206 00:11:18,960 --> 00:11:21,920 their, they, they've kind of dabbled in shit coins. 207 00:11:21,920 --> 00:11:23,520 They have shit coins on their balance sheet with their 208 00:11:23,520 --> 00:11:25,800 disclosures and stuff. And that's not anything to take 209 00:11:25,800 --> 00:11:28,120 anything against for them. But I do think that let's just 210 00:11:28,120 --> 00:11:30,400 play it out game theory wise, let's just say we start buying 211 00:11:30,400 --> 00:11:33,200 strategic reserve. The dollar strengthens. 212 00:11:33,400 --> 00:11:35,600 The dollar has already been strengthening over the last year 213 00:11:35,600 --> 00:11:39,240 and a half, two years basically since the the Russia, Ukraine 214 00:11:39,240 --> 00:11:40,600 conflict. It has a slight dip. 215 00:11:40,760 --> 00:11:44,120 But I follow answer Lidner, avid bitcoiner and great macro 216 00:11:44,360 --> 00:11:46,080 economist. He basically says that the 217 00:11:46,080 --> 00:11:47,600 dollar was going to keep strengthening and a lot of 218 00:11:47,600 --> 00:11:48,840 people didn't think it was going to weaken. 219 00:11:48,840 --> 00:11:51,080 We were going to a recession. I don't think that's the case. 220 00:11:51,080 --> 00:11:54,680 But if the dollar strengthens too much, that becomes a problem 221 00:11:54,680 --> 00:11:56,080 in terms of an international stage. 222 00:11:56,080 --> 00:11:59,880 What that means is basically the amount of dollars can buy more 223 00:11:59,880 --> 00:12:04,360 and more goods from external nations or externally. 224 00:12:04,480 --> 00:12:07,840 So that means that we can buy things and basically consume 225 00:12:07,840 --> 00:12:10,560 resources of other countries. I do think that if it 226 00:12:10,720 --> 00:12:13,960 strengthens too much, then the, you know, the H1B visa that's 227 00:12:13,960 --> 00:12:16,520 been kind of the talk of the town that's more incentivizes 228 00:12:16,520 --> 00:12:19,280 companies to look and paying people outside of the United 229 00:12:19,280 --> 00:12:21,320 States. So basically, in summary, I do 230 00:12:21,320 --> 00:12:23,560 think that there will have to be a relief valve and I do think 231 00:12:23,560 --> 00:12:25,760 Bitcoin will be that relief valve, meaning that whether 232 00:12:25,760 --> 00:12:28,960 Trump sells off or maybe even holds off buying even more than 233 00:12:28,960 --> 00:12:31,720 they were planning to buy in order to allow it to to fall 234 00:12:31,720 --> 00:12:33,360 down down slightly. Otherwise, if the dollar 235 00:12:33,360 --> 00:12:35,680 strengthens too much, you can see a recession in the sense 236 00:12:35,680 --> 00:12:37,240 that things are getting too expensive. 237 00:12:37,440 --> 00:12:40,280 You know, real estate, real estate starts taking a plunge, 238 00:12:40,400 --> 00:12:42,800 stock market starts taking a plunge, as we've seen in 239 00:12:42,800 --> 00:12:44,440 history's past. And only Bitcoin's the first 240 00:12:44,440 --> 00:12:46,040 thing to move down. It's also the first thing to 241 00:12:46,040 --> 00:12:48,720 recover and move up. So I do think it is a little too 242 00:12:48,720 --> 00:12:50,680 bullish right now, but I'd love to be proven. 243 00:12:50,680 --> 00:12:51,480 Wrong. Absolutely. 244 00:12:51,480 --> 00:12:54,120 I think it's incredible points, good points by the legendary 245 00:12:54,120 --> 00:12:55,960 Chris Alamo. Of course we have our special 246 00:12:55,960 --> 00:12:59,160 guest for today. We have Jack from Thunder Games 247 00:12:59,160 --> 00:13:00,840 in the house. Of course, you guys know we're 248 00:13:01,040 --> 00:13:03,960 big fans of Thunder games here at Simply Bitcoin. 249 00:13:03,960 --> 00:13:06,880 Jack, thank you so much for joining us on the show today. 250 00:13:08,520 --> 00:13:10,800 Cheers guys, happy to be here. Excited so. 251 00:13:11,760 --> 00:13:14,960 Do you have any thoughts on Samsung Mao's predictions $1 252 00:13:14,960 --> 00:13:16,800 million Bitcoin? Do you have any thoughts about 253 00:13:16,800 --> 00:13:20,120 the the talk of the Strategic Bitcoin Reserve? 254 00:13:20,640 --> 00:13:21,960 What are your takes on everything? 255 00:13:22,760 --> 00:13:27,840 Yeah, I think the talk's cheap. So that's my first. 256 00:13:27,840 --> 00:13:29,960 Like take away is like politicians can say whatever 257 00:13:29,960 --> 00:13:32,920 they want and they'll talk more and more about something that 258 00:13:32,920 --> 00:13:37,000 is, you know, like they don't have to do anything if they're 259 00:13:37,000 --> 00:13:39,720 just talking about it. So I believe it when I see it. 260 00:13:39,720 --> 00:13:42,440 I think you you hit the nail on the head with the first promise 261 00:13:42,440 --> 00:13:45,880 was to free Ross on day one. Like then I'll start getting 262 00:13:45,880 --> 00:13:49,040 excited. If some like he actually does 263 00:13:49,440 --> 00:13:52,440 what he says he's going to do, then we can talk about strategic 264 00:13:52,440 --> 00:13:55,080 preserve like a bit more bullishly. 265 00:13:55,080 --> 00:13:58,680 But I'm confident that, you know, the game theory is going 266 00:13:58,680 --> 00:14:01,000 to work out. And that's the direction that 267 00:14:01,080 --> 00:14:04,800 the government's going to have to go is start back in back, 268 00:14:04,800 --> 00:14:09,480 back in their governments with with Bitcoin as a savings 269 00:14:09,480 --> 00:14:12,200 vehicle, because I want my government to do it like in 270 00:14:12,200 --> 00:14:13,160 this. It's going to be the will of the 271 00:14:13,160 --> 00:14:15,640 people eventually. Yeah, absolutely. 272 00:14:15,640 --> 00:14:16,880 I think it's a good point, right? 273 00:14:16,880 --> 00:14:19,320 Talk is cheap, actions are expensive. 274 00:14:19,560 --> 00:14:22,680 We shall see 18 days until inauguration. 275 00:14:22,840 --> 00:14:28,000 The first bit pro Bitcoin administration is going to be 276 00:14:28,000 --> 00:14:31,120 sworn into office. It's going to be a historic year 277 00:14:31,280 --> 00:14:34,080 for Bitcoin like last year. Last year was absolutely 278 00:14:34,080 --> 00:14:36,760 historic. We we got the ETF approval. 279 00:14:36,880 --> 00:14:39,320 We have Michael Saylor's vindication on the public 280 00:14:39,400 --> 00:14:43,560 company front and of course the first pro Bitcoin administration 281 00:14:43,680 --> 00:14:47,640 sworn into office. Let's see if they keep their 282 00:14:47,840 --> 00:14:50,640 they keep their promise in freeing Ross. 283 00:14:50,640 --> 00:14:53,160 We shall see. Anyways, ladies and gentlemen, 284 00:14:53,160 --> 00:14:55,880 before we start the show, I do want to give a a very special 285 00:14:55,880 --> 00:14:58,800 shout out to simply Bitcoin's lead sponsor. 286 00:14:58,800 --> 00:15:00,200 Of course I'm talking about Bitcoin. 287 00:15:00,200 --> 00:15:02,960 Well, Bitcoin was the best place to build your automatic self 288 00:15:02,960 --> 00:15:06,880 custody Bitcoin stack. It's the best place to buy 289 00:15:06,880 --> 00:15:10,720 Bitcoin on chain or via the Lightning Network in Canada or 290 00:15:10,760 --> 00:15:14,640 the United States of America. It's a publicly traded company. 291 00:15:14,640 --> 00:15:17,440 You can also check out their ticker symbol and it is 292 00:15:17,440 --> 00:15:21,040 completely non custodial. So this is what makes Bitcoin 293 00:15:21,040 --> 00:15:23,200 well completely different because when you buy Bitcoin on 294 00:15:23,200 --> 00:15:26,920 Bitcoin well and as soon as the funds clear, it goes straight to 295 00:15:26,920 --> 00:15:29,200 yourself. Custody Bitcoin wallet address 296 00:15:29,360 --> 00:15:32,240 meaning you can't even leave your funds on the exchange, 297 00:15:32,400 --> 00:15:35,160 which perfectly aligns with the simply Bitcoin ethos of the 298 00:15:35,160 --> 00:15:39,120 separation of money and state because after all, self custody 299 00:15:39,200 --> 00:15:41,960 is the revolution for higher net worth individuals that are 300 00:15:42,040 --> 00:15:45,160 they're looking to buy $50,000 worth of Bitcoin or more and are 301 00:15:45,160 --> 00:15:49,560 looking for a white glove tailored Bitcoin experience. 302 00:15:49,840 --> 00:15:52,400 You're tired of dealing with that finicky Coinbase UI. 303 00:15:52,400 --> 00:15:54,080 You're tired of dealing with support. 304 00:15:54,240 --> 00:15:56,320 They don't answer you for weeks and weeks. 305 00:15:56,480 --> 00:16:00,240 You actually want to pick up the phone and speak to a human 306 00:16:00,240 --> 00:16:02,560 being. You got to check out Bitcoin. 307 00:16:02,560 --> 00:16:04,920 Well, infinite, you can buy Bitcoin with them. 308 00:16:04,920 --> 00:16:07,440 You can sell Bitcoin with them. You're going to have a personal 309 00:16:07,440 --> 00:16:11,040 representative assigned to you of which you can call, you can 310 00:16:11,040 --> 00:16:13,560 text, and you can communicate, indicate to whenever you want, 311 00:16:13,560 --> 00:16:15,920 when you want to buy, when you want to sell, or if you even 312 00:16:15,920 --> 00:16:18,960 have questions about Bitcoin in general. 313 00:16:19,040 --> 00:16:22,000 So check out Bitcoin Well Infinite today. 314 00:16:22,160 --> 00:16:25,600 Go to bitcoinwell.com/OTC to get started. 315 00:16:25,800 --> 00:16:27,880 Before we start the show, we're already at 100 likes. 316 00:16:28,000 --> 00:16:33,080 Help us break 150 likes within the 1st 30 minutes of the 30 317 00:16:33,080 --> 00:16:36,040 minutes of the show. So again, smash that like 318 00:16:36,040 --> 00:16:37,520 button. All right, everybody, let's jump 319 00:16:37,520 --> 00:16:38,800 into it. Let's get to the numbers. 320 00:16:38,800 --> 00:16:40,120 We have lots to talk about today. 321 00:16:40,120 --> 00:16:41,160 Let's check it out. Here we go. 322 00:16:49,040 --> 00:16:52,120 I want to tell you guys about our sponsor Stamp Seed. 323 00:16:52,520 --> 00:16:55,600 Is your Bitcoin and cold storage really secure? 324 00:16:55,960 --> 00:16:58,600 Are your seed words really secure? 325 00:16:58,760 --> 00:17:02,840 Stamp Seeds Do it Yourself Kit has everything you'll need to 326 00:17:02,840 --> 00:17:07,599 hammer your seed words into commercial grade titanium plates 327 00:17:07,839 --> 00:17:10,800 instead of writing them down on paper. 328 00:17:10,880 --> 00:17:13,119 Don't do that. 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They are also crush proof, 336 00:17:38,120 --> 00:17:42,160 waterproof, non corrosive and most importantly because this is 337 00:17:42,160 --> 00:17:48,280 generational wealth time proof, all things that paper is not 338 00:17:48,600 --> 00:17:52,000 allowing you to huddle your Bitcoin for the long haul. 339 00:17:52,000 --> 00:17:56,640 I mean, here is the plate that they crushed, they put in water, 340 00:17:56,800 --> 00:18:00,640 they put a blowtorch to it and as you can see, the words have 341 00:18:00,640 --> 00:18:03,880 survived. Stamp your seed on stamp seed 342 00:18:04,400 --> 00:18:09,200 and you can use promo code simply to get 15% off anything 343 00:18:09,200 --> 00:18:14,600 on their store. All right everybody, you can use 344 00:18:14,600 --> 00:18:21,280 promo code simply to get 15% off anything on the Stamp se-ed.com 345 00:18:21,280 --> 00:18:23,320 store. Remember, don't write down your 346 00:18:23,320 --> 00:18:28,440 seed words, stamp them onto Titanium so they can survive the 347 00:18:28,440 --> 00:18:30,800 test of time. All right everybody. 348 00:18:30,800 --> 00:18:34,160 At the time of recording, the Bitcoin price is $96,400. 349 00:18:34,160 --> 00:18:41,800 Block height 877,524 SAT's per dollar 1037 market cap 1.91 350 00:18:41,800 --> 00:18:47,280 trillion Bitcoin versus gold market cap 10.35% Percentage 351 00:18:47,280 --> 00:18:53,960 issued 94.3% decline from all time high -10.9% Realized 352 00:18:53,960 --> 00:18:58,760 monetary inflation continues to go down 1.1%. 353 00:18:59,440 --> 00:19:02,280 Taking Fiat currencies to absolute schools. 354 00:19:02,280 --> 00:19:05,760 Speaking of Fiat currencies, we got Opti's ex-girlfriend in the 355 00:19:05,760 --> 00:19:10,160 house, Christine Lagarde. Wishing all of us a Happy New 356 00:19:10,160 --> 00:19:12,360 Year. Let's check it out. 357 00:19:12,360 --> 00:19:15,720 I think she does drop something about the digital euro, which I 358 00:19:15,720 --> 00:19:17,720 find interesting. Let's check it out and then 359 00:19:17,720 --> 00:19:21,040 we'll talk about it. You a happy New Year, happy 360 00:19:21,320 --> 00:19:29,120 healthy, prosperous 2025. So we have a big heavy agenda at 361 00:19:29,120 --> 00:19:31,800 the ECB. We have made significant 362 00:19:31,800 --> 00:19:38,200 progress in 24 in bringing down inflation and hopefully 25 is 363 00:19:38,200 --> 00:19:43,600 the year when we are on target as expected and as planned in 364 00:19:43,600 --> 00:19:47,400 our strategy. Of course, we will continue our 365 00:19:47,400 --> 00:19:51,840 efforts to ensure that that inflation stabilizes sustainably 366 00:19:52,400 --> 00:19:58,760 at that 2% medium term target. We will also be reviewing our 367 00:19:58,760 --> 00:20:01,920 monetary policy strategy. Why do we do that? 368 00:20:01,920 --> 00:20:05,800 We just did that in 21. Well, we're doing it to ensure 369 00:20:06,160 --> 00:20:11,280 that it still fits the changing world in which we live and that 370 00:20:11,680 --> 00:20:18,960 we are fit for 25 and following. Another significant development 371 00:20:18,960 --> 00:20:21,840 on the horizon is our digital euro. 372 00:20:23,120 --> 00:20:28,160 We are in the preparation phase and we are expecting, we are 373 00:20:28,160 --> 00:20:33,000 expecting European legislation. Once that is done, we will 374 00:20:33,000 --> 00:20:38,480 decide whether we move forward with developing a digital form 375 00:20:38,640 --> 00:20:45,320 of cash, your digital euro. And you know, we are also 376 00:20:45,320 --> 00:20:48,280 working on banknotes. We are in the process of 377 00:20:48,440 --> 00:20:52,480 redesigning our banknotes. It's a long standing exercise 378 00:20:52,480 --> 00:20:57,520 that will not be completed in 25, but significant moves will 379 00:20:57,520 --> 00:20:59,360 take place with the design phase. 380 00:21:00,600 --> 00:21:04,840 It reflects a commitment to innovation while also preserving 381 00:21:04,840 --> 00:21:09,560 the trust and security that our currency represents, both in 382 00:21:10,080 --> 00:21:12,400 banknote form and in digital form. 383 00:21:13,720 --> 00:21:16,720 So we have a lot on the agenda for the ECB. 384 00:21:17,160 --> 00:21:22,240 And as that work begins, let me once again wish all of you from 385 00:21:22,240 --> 00:21:24,880 within or of course, outside the ECBA. 386 00:21:25,440 --> 00:21:30,000 Very, very great start to 25 and a happy New Year. 387 00:21:31,120 --> 00:21:34,440 OK, so much to unpack. Really glad that we're covering 388 00:21:34,440 --> 00:21:37,320 this. I love. 389 00:21:38,000 --> 00:21:39,280 I love the live comment. Too. 390 00:21:39,320 --> 00:21:42,600 I love how, you know, she starts in the beginning and she's like, 391 00:21:42,600 --> 00:21:47,360 wishing you a prosperous 2025. And then we want to get back to 392 00:21:47,360 --> 00:21:51,240 that 2% number. You know, right now Bitcoin's 393 00:21:51,240 --> 00:21:55,840 inflation rate is 1.1%, and this is going to go down forever, 394 00:21:56,000 --> 00:21:57,760 right? I think when we started covering 395 00:21:57,760 --> 00:22:02,200 this, it was like 1.83. And then, of course, the halving 396 00:22:02,480 --> 00:22:05,280 and, you know, Bitcoin's absolute scarcity is going to 397 00:22:05,280 --> 00:22:06,720 ensure this eventually goes to 0. 398 00:22:07,960 --> 00:22:11,200 And, you know, like, what is this 2% number? 399 00:22:11,200 --> 00:22:13,000 They don't even have an answer for the 2% number. 400 00:22:13,280 --> 00:22:16,400 And then, you know, kind of dystopian sneak it in there 401 00:22:16,600 --> 00:22:19,920 because they had a marketing problem with the central bank 402 00:22:19,920 --> 00:22:22,000 digital currency. People weren't receptive to 403 00:22:22,000 --> 00:22:24,000 that. So they did a bait and switch 404 00:22:24,000 --> 00:22:26,480 and now they're calling it the digital euro. 405 00:22:26,760 --> 00:22:29,760 And, you know, we're so excited this legislation, it's going to 406 00:22:29,920 --> 00:22:32,320 fix things. And it's very insidious when she 407 00:22:32,320 --> 00:22:36,880 says your digital cash. Listen, anyone could make 408 00:22:36,880 --> 00:22:39,160 Bitcoin. You plug in a miner, you pay for 409 00:22:39,160 --> 00:22:40,520 electricity, you can make Bitcoin. 410 00:22:40,720 --> 00:22:44,280 You can run Bitcoin software and have a copy of the entire 411 00:22:44,280 --> 00:22:47,560 Bitcoin blockchain in your home, verify transactions. 412 00:22:48,080 --> 00:22:50,040 You can take self custody of your Bitcoin. 413 00:22:51,000 --> 00:22:53,360 Can you audit the ECB? No. 414 00:22:53,360 --> 00:22:55,560 Can you make more EUR? No. 415 00:22:55,560 --> 00:22:58,760 You go to jail for counterfeiting. 416 00:22:59,120 --> 00:23:02,520 So like again, this is narrative trench warfare in the 417 00:23:02,520 --> 00:23:05,680 battleground of the Internet. She's trying to mean something 418 00:23:05,680 --> 00:23:10,000 into existence she's trying to play on the fact that people are 419 00:23:10,000 --> 00:23:14,040 not informed on Fiat money and trying to convince you that she 420 00:23:14,040 --> 00:23:16,760 is working for you that she is there to help you. 421 00:23:17,160 --> 00:23:21,240 But if you look at the raw data you know and and this kind of 422 00:23:21,240 --> 00:23:24,680 explains why they hate Bitcoin so much I I would too if I was a 423 00:23:24,680 --> 00:23:26,920 central banker. It ends the racket. 424 00:23:27,480 --> 00:23:31,920 On A5 year time scale, if you've been saving in Bitcoin, EUR have 425 00:23:31,920 --> 00:23:34,880 lost 88% of their value. On a three-year time scale, 426 00:23:35,040 --> 00:23:38,520 they've lost 51% of their value. On a one year time scale, 427 00:23:38,720 --> 00:23:42,400 they've lost 72% of their value. Like on a monthly time scale, 428 00:23:42,400 --> 00:23:47,160 they've lost 35% of their value and let's say all goods and 429 00:23:47,160 --> 00:23:49,440 services because that's one of the things that central bankers 430 00:23:49,440 --> 00:23:51,760 are always talking about and politicians, they're always 431 00:23:52,000 --> 00:23:56,280 framing it as if, you know, like this is all for you. 432 00:23:56,280 --> 00:23:58,240 We're trying to help you. We're trying to save you. 433 00:23:58,240 --> 00:24:00,720 We're trying to bring everything under control. 434 00:24:00,920 --> 00:24:03,240 And what bitcoiners are basically saying like, look, 435 00:24:03,240 --> 00:24:07,600 dude, like, you know, you don't, we don't need you to to help us. 436 00:24:07,800 --> 00:24:13,480 If you start opting out of the system today and you start 437 00:24:13,480 --> 00:24:17,880 saving and earning in Bitcoin, you can start taking advantage 438 00:24:18,160 --> 00:24:21,960 of a unit of account of a currency that actually values 439 00:24:21,960 --> 00:24:26,040 your time and your energy and your work, right? 440 00:24:26,240 --> 00:24:30,440 So a house even with housing prices, prices in the United 441 00:24:30,440 --> 00:24:33,840 States doubling due to all the money printing that occurred 442 00:24:33,840 --> 00:24:36,720 during the pandemic. If you've been saving a Bitcoin 443 00:24:36,720 --> 00:24:42,240 on A5 year time scale, housing has gotten 90% cheaper, the 444 00:24:42,240 --> 00:24:48,200 stock market 77% cheaper, gold 94% cheaper, oil 94% cheaper, 445 00:24:48,200 --> 00:24:52,240 the dollar 87% cheaper and it just goes on like food. 446 00:24:52,240 --> 00:24:54,880 You know, this is one of the major reasons as to why Trump 447 00:24:54,880 --> 00:24:57,120 got elected. People were so frustrated with 448 00:24:57,120 --> 00:24:59,560 inflation, right? On A5 year time scale, 449 00:24:59,560 --> 00:25:03,360 everything has gotten cheaper compared to Bitcoin. 450 00:25:03,520 --> 00:25:06,120 This is what happens when you know, you know, something has 451 00:25:06,120 --> 00:25:09,320 absolute scarcity. It's Infinity divided by 21 452 00:25:09,320 --> 00:25:11,880 million. So like, you know, as much as 453 00:25:11,880 --> 00:25:16,480 she wants to meme this into existence that, you know, the 454 00:25:16,480 --> 00:25:19,800 European Central Bank is your friend and it's a public good 455 00:25:19,800 --> 00:25:23,360 and it's here to help you. I would say, you know, Bitcoin 456 00:25:23,360 --> 00:25:25,520 actually has the proof of work behind it. 457 00:25:25,520 --> 00:25:28,080 It actually has the results behind it. 458 00:25:28,880 --> 00:25:32,000 I think they just make things work and make things worse. 459 00:25:32,000 --> 00:25:35,800 And you have a choice as an individual to choose when you 460 00:25:35,800 --> 00:25:39,120 don't have to wait for an election to choose which unit of 461 00:25:39,120 --> 00:25:42,640 account you choose to live on. And I promise you, I promise 462 00:25:42,640 --> 00:25:44,640 you, I've seen this happen so many times. 463 00:25:44,640 --> 00:25:46,800 It's my ninth year in Bitcoin, OK? 464 00:25:47,080 --> 00:25:49,400 Have had seen this happen so many times. 465 00:25:49,920 --> 00:25:53,080 If you choose to, if you choose to move to a Bitcoin standard, 466 00:25:53,320 --> 00:25:56,200 your life will get progressively cheaper over time. 467 00:25:56,360 --> 00:25:58,760 The things around you, whether that's housing, whether that's 468 00:25:58,760 --> 00:26:01,560 food, whether that's anything, will get progressively cheaper, 469 00:26:01,720 --> 00:26:04,760 allowing you to save for the future, allowing you to plan for 470 00:26:04,760 --> 00:26:07,080 the future. And that gives you back hope, 471 00:26:07,080 --> 00:26:10,440 that gives you back optimism. People like Christine Lagarde, 472 00:26:10,440 --> 00:26:13,480 people like the institutions like the European Central Bank, 473 00:26:13,680 --> 00:26:18,320 they steal that from you through inflation, through monetary 474 00:26:18,320 --> 00:26:21,080 debasement. So she can have a nice curtain 475 00:26:21,080 --> 00:26:23,080 behind her. She can be dressed up very 476 00:26:23,080 --> 00:26:25,080 pretty. She could put the captions on 477 00:26:25,080 --> 00:26:27,600 there and basically try to connect with the younger 478 00:26:27,600 --> 00:26:29,960 generations. But at the end of the day, you 479 00:26:29,960 --> 00:26:35,400 know, that 2% number is 2% because it's not big enough for 480 00:26:35,400 --> 00:26:38,160 people to realize that they're getting stolen from because 481 00:26:38,160 --> 00:26:40,040 that's essentially what it what it is. 482 00:26:40,320 --> 00:26:44,560 Every single day that Bitcoin exists, it continues to prove 483 00:26:44,760 --> 00:26:48,800 that money can exist without inflation, not only can exist 484 00:26:48,800 --> 00:26:52,000 without inflation, people that use the money that doesn't have 485 00:26:52,000 --> 00:26:54,880 inflation actually live better lives. 486 00:26:55,000 --> 00:26:59,400 So don't let them gaslight you. Get informed so that you can 487 00:26:59,400 --> 00:27:01,920 spread Bitcoin. All right, I'm going to pass it 488 00:27:01,920 --> 00:27:04,160 on to Chris. Chris, what are your thoughts on 489 00:27:04,400 --> 00:27:06,080 Opti's ex-girlfriend, Christine Lagarde? 490 00:27:06,080 --> 00:27:07,960 She's trying to spread it out there. 491 00:27:07,960 --> 00:27:12,200 She's trying to get people to use this ECB, this, you know, 492 00:27:12,200 --> 00:27:15,040 this, this digital euro. It's not called a central bank 493 00:27:15,040 --> 00:27:17,000 digital currency anymore. You know it. 494 00:27:17,000 --> 00:27:19,960 They're changing the name they're making, hoping that 495 00:27:19,960 --> 00:27:21,680 people won't notice. What's your take? 496 00:27:24,080 --> 00:27:27,560 No, yeah, No, I I think there was a lot in that short clip. 497 00:27:27,560 --> 00:27:30,360 I mean, she says we're targeting 2% inflation. 498 00:27:30,640 --> 00:27:33,320 Nico, you know, that they obviously artificially 499 00:27:33,320 --> 00:27:35,320 manipulate CPI numbers to be lower. 500 00:27:35,400 --> 00:27:37,600 So it looks like things aren't getting more expensive, when in 501 00:27:37,600 --> 00:27:39,360 actuality, they're getting way more expensive. 502 00:27:39,360 --> 00:27:42,720 When you compare it to like the Chapwood index or shadow stats 503 00:27:42,720 --> 00:27:45,440 or any of the other metrics. When you like, keep their own 504 00:27:45,440 --> 00:27:48,400 inflation numbers from the 70s or 80s, things are way worse. 505 00:27:48,400 --> 00:27:51,760 And those were their own numbers back then, but they adjusted 506 00:27:51,880 --> 00:27:54,520 instead of getting, you know, the great replace it with 507 00:27:54,520 --> 00:27:56,880 chicken instead of chicken. You get like they're always 508 00:27:56,880 --> 00:27:58,600 adjusting it. So they're saying she's 509 00:27:58,600 --> 00:28:01,920 basically saying we're targeting 2% of theft of you and your 510 00:28:01,920 --> 00:28:04,360 family and your loved ones if you don't save in Bitcoin. 511 00:28:04,520 --> 00:28:05,800 And that's only we're targeting it. 512 00:28:05,800 --> 00:28:08,400 If it's higher, they don't care. They'll lie and gaslight you 513 00:28:08,400 --> 00:28:11,400 into saying, oh, we didn't steal as much or hey, inflation's 514 00:28:11,400 --> 00:28:14,480 actually gone down yet. Maybe the inflation change has 515 00:28:14,480 --> 00:28:16,880 gone down, but it's still compounds on itself. 516 00:28:16,880 --> 00:28:19,120 You know, if last year was 7% inflation and this year's only 517 00:28:19,120 --> 00:28:22,080 2% inflation, it's not just a nine percent increase, it's a 518 00:28:22,400 --> 00:28:26,560 not a 2% increase on the adjusted increase of of 7%. 519 00:28:26,560 --> 00:28:29,320 So it's even worse. It compounds with inflation, 520 00:28:29,320 --> 00:28:31,480 which is horrible. The digital euro there, there's 521 00:28:31,480 --> 00:28:33,720 nothing to add there. It's basically just the CBDC. 522 00:28:33,720 --> 00:28:36,200 They want to get rid of cash and they want to pigeonhole you into 523 00:28:36,200 --> 00:28:37,920 their own central bank digital currency. 524 00:28:38,080 --> 00:28:40,440 And then the irony at the very end, she's like, yeah, we're 525 00:28:40,440 --> 00:28:43,800 trying to make it even more like trust us even more and like 526 00:28:44,000 --> 00:28:45,720 guarantee you more trust than privacy. 527 00:28:45,720 --> 00:28:47,920 It's like we don't trust you. You're inflating our dollars 528 00:28:47,920 --> 00:28:50,960 away, our Fiat currencies away. You're lying to us. 529 00:28:50,960 --> 00:28:52,920 You're gaslighting us. You're not trying to make it 530 00:28:52,920 --> 00:28:55,880 more private with the CBD. And she was even like, oh, we're 531 00:28:55,880 --> 00:28:58,480 trying to insecure security for who? 532 00:28:58,480 --> 00:29:01,200 For us or for them. So it's all control game. 533 00:29:01,360 --> 00:29:04,480 They're trying to pitch, you know, their own products for 534 00:29:04,480 --> 00:29:07,520 their own benefit and their benefactors and friends. 100 535 00:29:07,520 --> 00:29:09,560 percent, 100%. I think you hit the nail on the 536 00:29:09,560 --> 00:29:11,920 head, guys. We're at 171 likes. 537 00:29:12,120 --> 00:29:18,080 Help us break 200 likes within the 1st 40 minutes of the show. 538 00:29:18,080 --> 00:29:22,440 We already have 2000 live viewers across YouTube and X. 539 00:29:22,440 --> 00:29:24,320 And of course, shout out to the Rumble audience. 540 00:29:24,320 --> 00:29:28,440 We're at 127 of you guys watching live on Rumble. 541 00:29:28,560 --> 00:29:30,680 So again, if you guys are enjoying the show, make sure to 542 00:29:30,680 --> 00:29:34,840 smash that like button and sit back, relax, enjoy the rest of 543 00:29:34,840 --> 00:29:38,040 the show because we got a ton of Bitcoin content for you guys. 544 00:29:38,320 --> 00:29:42,280 Jack, what's your take? You know, on Christine Lagarde, 545 00:29:42,480 --> 00:29:46,600 wishing everybody such a you know, she, she cares about you. 546 00:29:46,600 --> 00:29:50,240 She, she really wants to wish you a happy new year. 547 00:29:50,400 --> 00:29:54,440 She's there to serve you. The euro is there to serve you. 548 00:29:54,440 --> 00:29:56,880 It's there to make your life better. 549 00:29:57,120 --> 00:30:00,080 Jack, what's your take? OK. 550 00:30:00,080 --> 00:30:04,120 Yeah, My take is slightly different is that I never see 551 00:30:04,120 --> 00:30:07,960 those things as like competitive to Bitcoin because of the 552 00:30:07,960 --> 00:30:12,320 obvious reasons. But really there's like an arms 553 00:30:12,320 --> 00:30:15,640 race for who's going to who's digital currency, what 554 00:30:15,640 --> 00:30:17,400 countries. Digital currency will be the 555 00:30:17,400 --> 00:30:21,720 most like widely used, the most popular, because if your country 556 00:30:21,720 --> 00:30:24,720 can control the digital space with your own currency, you can 557 00:30:25,240 --> 00:30:27,880 export your inflation to other countries and other people 558 00:30:27,880 --> 00:30:31,960 around the world. So that's the game they're 559 00:30:31,960 --> 00:30:35,240 playing. And I think that America needs 560 00:30:35,240 --> 00:30:39,720 to it's almost like America have to do exactly the same. 561 00:30:39,720 --> 00:30:43,600 Otherwise they're tool of exporting inflation from the US 562 00:30:43,600 --> 00:30:46,080 dollar is going to be eroded away as well. 563 00:30:46,080 --> 00:30:49,960 So I think there's going to be a massive boom in in it. 564 00:30:49,960 --> 00:30:55,720 And the fact that the EU are so they're actually the one 565 00:30:56,360 --> 00:31:00,440 continent or group of countries that are actually ahead in 566 00:31:00,440 --> 00:31:05,360 trying to steal this kind of like space, I think. 567 00:31:05,360 --> 00:31:08,480 So I'm kind of worried I'm from, I'll be worried about it from an 568 00:31:08,480 --> 00:31:12,840 American perspective, if I was an American, but I'm not worried 569 00:31:12,840 --> 00:31:14,600 about it from I'm from Britain. So I'm not. 570 00:31:14,960 --> 00:31:18,480 We have no, our currency is not used to be the, the currency 571 00:31:18,480 --> 00:31:20,640 used around the world. And we were playing this game of 572 00:31:20,920 --> 00:31:23,600 exporting inflation around the world and then we lost that. 573 00:31:23,840 --> 00:31:28,520 America now has it. And perhaps Europe has finally 574 00:31:28,520 --> 00:31:33,240 found a way to make their currency useful to them. 575 00:31:34,560 --> 00:31:36,680 So you said that Americans should be worried. 576 00:31:36,760 --> 00:31:37,760 How so? How? 577 00:31:37,760 --> 00:31:40,720 Why should? 50 years like on a, on a big 578 00:31:40,720 --> 00:31:45,440 time frame because, you know, the whole world uses the US 579 00:31:45,440 --> 00:31:47,800 dollar as like the reserve currency. 580 00:31:48,280 --> 00:31:52,120 And if someone in some countries using their dollars to save them 581 00:31:52,160 --> 00:31:55,360 that money, then if the US government prints more money to 582 00:31:55,360 --> 00:31:57,680 give to their own citizens, they're basically taxing. 583 00:31:58,040 --> 00:32:00,120 They're taxing all these other people around the world. 584 00:32:00,720 --> 00:32:04,160 And that is what the UK did, I don't know, 2400 years ago. 585 00:32:04,240 --> 00:32:10,560 I'm not very good at history. And if whoever has the digital 586 00:32:10,560 --> 00:32:13,800 currency that the world uses, the most world uses, can like 587 00:32:13,800 --> 00:32:16,480 inflate their own currency, like you said. 588 00:32:16,520 --> 00:32:22,240 And America should want to keep that as the number one currency 589 00:32:22,240 --> 00:32:24,920 to export inflation from, in my opinion. 590 00:32:26,200 --> 00:32:28,240 Yeah, I mean, I, I agree. I, I agree. 591 00:32:28,240 --> 00:32:30,120 I, I think. But you know, what I, what I 592 00:32:30,120 --> 00:32:34,520 would say is like the Samsung, you know, point was really, 593 00:32:34,520 --> 00:32:40,640 really, excuse me, was really, really interesting because, you 594 00:32:40,640 --> 00:32:44,640 know, he's basically making the case that by the virtue of, of 595 00:32:46,040 --> 00:32:49,000 the United States adopting Bitcoin, it actually 596 00:32:49,000 --> 00:32:51,120 strengthens, it strengthens the dollar. 597 00:32:52,280 --> 00:32:57,120 And I don't see how a digital euro like, I, I feel like a 598 00:32:57,120 --> 00:33:00,400 digital euro is, is just a step in the right, like step in the 599 00:33:00,400 --> 00:33:02,840 wrong direction. And I think a lot of people are 600 00:33:02,840 --> 00:33:06,280 just not, if you, you see this like, for example, like in, in 601 00:33:06,280 --> 00:33:11,080 Nigeria, they rolled out the, a digital, the digital CBDC 602 00:33:11,080 --> 00:33:13,480 equivalent of their Fiat currency is called the Naira. 603 00:33:13,840 --> 00:33:18,240 And you know, adoption was, was like people did just didn't want 604 00:33:18,240 --> 00:33:21,360 it, right. I, I see CBD CS as like, you 605 00:33:21,360 --> 00:33:25,200 know, it's, it's, it's a, it's something that's trying to solve 606 00:33:25,200 --> 00:33:27,840 a problem that doesn't need to be fixed. 607 00:33:28,080 --> 00:33:31,080 It's kind of like a justification by central bankers 608 00:33:31,520 --> 00:33:36,200 to, you know, justification and an attempt by central bankers 609 00:33:36,960 --> 00:33:40,840 for them to maintain their control, monopoly over money. 610 00:33:41,160 --> 00:33:46,320 I don't see how it particularly would help the European Union 611 00:33:47,000 --> 00:33:50,160 going down this path. I would say that what would help 612 00:33:50,160 --> 00:33:53,800 the European Union, specifically their citizens would be adopting 613 00:33:53,800 --> 00:33:57,040 a Bitcoin standard and actually giving their citizens more 614 00:33:57,040 --> 00:34:01,560 freedom to choose the currency they want to use, rather than 615 00:34:01,760 --> 00:34:06,400 this bureaucracy in Brussels that's essentially dictating the 616 00:34:06,400 --> 00:34:10,199 lives of, you know, millions of millions of, of, of Europeans 617 00:34:10,199 --> 00:34:12,000 like that. That's my perspective. 618 00:34:12,000 --> 00:34:15,360 Maybe, you know, I'm I'm I'm too American. 619 00:34:17,960 --> 00:34:20,560 And you know, governments are the most evil corporation that 620 00:34:20,560 --> 00:34:22,000 exist. They must have killed millions 621 00:34:22,000 --> 00:34:23,400 and millions of people at this point. 622 00:34:23,400 --> 00:34:26,440 The the government as if you think of it as a business. 623 00:34:26,960 --> 00:34:29,400 And they're like just so evil. So just assume they're going to 624 00:34:29,400 --> 00:34:32,520 do the most evilest thing, which is try to get everyone to use 625 00:34:32,520 --> 00:34:34,920 their currency so they can inflate it. 626 00:34:34,960 --> 00:34:37,760 And you don't, you don't have to limit it to your own country. 627 00:34:37,760 --> 00:34:40,600 You've got to try and get it, export that product to everyone 628 00:34:40,600 --> 00:34:43,719 else. And I think the, the Bitcoin 629 00:34:43,719 --> 00:34:48,120 reserve is decoupled from that. So America are doing that with 630 00:34:48,120 --> 00:34:50,360 the dollar and they want to keep that and they want everything 631 00:34:50,360 --> 00:34:53,000 priced in the dollar. And then they use the use big 632 00:34:53,199 --> 00:34:56,000 use Bitcoin as a way to like, say, oh, you know, like the 633 00:34:56,000 --> 00:34:57,720 dollar is strong because we've got the military. 634 00:34:57,720 --> 00:34:59,880 The dollar is strong because we've got all of this Bitcoin. 635 00:35:00,440 --> 00:35:07,240 So maybe that's what Europe needs to do as well is back up 636 00:35:07,240 --> 00:35:11,640 their their economy with good assets like gold, Bitcoin, 637 00:35:11,640 --> 00:35:16,080 whatever to give military and then they'll have a chance. 638 00:35:16,200 --> 00:35:20,360 But if, if they whoever get like you can see the stable coins are 639 00:35:20,360 --> 00:35:25,040 like the number one use case in the moment and for better or 640 00:35:25,040 --> 00:35:28,440 worse, that like whoever could like tether, they're like 641 00:35:28,920 --> 00:35:31,960 absolutely insanely, like probably could buy America or at 642 00:35:31,960 --> 00:35:36,240 this point, like they're huge. And if my government was just 643 00:35:36,240 --> 00:35:38,280 had that business, then I don't. To be honest. 644 00:35:38,280 --> 00:35:40,800 I don't know what your opinion is, but why hasn't it happened 645 00:35:40,800 --> 00:35:42,640 soon though? It seems like such an obvious 646 00:35:43,400 --> 00:35:45,680 what's taking them so long to build it? 647 00:35:46,200 --> 00:35:48,640 Yeah, yeah, yeah. No, I agree with you. 648 00:35:48,640 --> 00:35:50,680 I think you make some really, really good points. 649 00:35:50,680 --> 00:35:53,160 Guys. We're going to hit the news. 650 00:35:53,520 --> 00:35:56,080 We're going to, we're going to talk about the, we were talking 651 00:35:56,080 --> 00:36:01,520 about this last, last week, essentially how the IRS wanted 652 00:36:01,520 --> 00:36:06,640 to introduce these reporting requirements for Bitcoin and the 653 00:36:06,640 --> 00:36:11,400 deadline was December 31st. Well, some news broke today on 654 00:36:11,400 --> 00:36:16,480 January 2nd that they actually postponed, you know, those new 655 00:36:16,480 --> 00:36:21,360 reporting requirements. Again, total coincidence, two 656 00:36:21,360 --> 00:36:26,320 days after the supposed December 31st deadline. 657 00:36:26,560 --> 00:36:28,560 So, you know, I find that interesting. 658 00:36:28,560 --> 00:36:31,960 And again, I don't think that all of this is happening 659 00:36:32,520 --> 00:36:34,560 coincidentally. I think that this is happening 660 00:36:34,560 --> 00:36:37,720 because elections have consequences and we know how the 661 00:36:37,760 --> 00:36:41,560 incoming Trump administration supposedly feels about the 662 00:36:41,560 --> 00:36:44,480 industry. Again, Inauguration Day is 663 00:36:44,480 --> 00:36:48,240 coming up, January 18th, historic moment in Bitcoin's 664 00:36:48,240 --> 00:36:51,280 history. The first pro Bitcoin 665 00:36:51,280 --> 00:36:54,880 administration is going to be sworn into office. 666 00:36:54,880 --> 00:36:58,360 We also, we also might have special content for you guys in 667 00:36:58,360 --> 00:37:01,240 regards to some special interviews with some people in 668 00:37:01,240 --> 00:37:05,520 Washington DC and I think I will be in DC for the inauguration. 669 00:37:05,520 --> 00:37:06,880 So looking forward to that as well. 670 00:37:06,920 --> 00:37:10,120 Hopefully we can get you guys some on the ground footage of 671 00:37:10,120 --> 00:37:12,680 that historic day. All right, everybody, we're 672 00:37:12,680 --> 00:37:14,840 going to get to the news. We have tons to talk about. 673 00:37:14,840 --> 00:37:16,800 Stay tuned. And then during the culture 674 00:37:16,800 --> 00:37:19,360 segment, we're going to talk about Thunder games and we're 675 00:37:19,360 --> 00:37:23,000 also going to do a little bit of a recap of the Michael Saylor 676 00:37:23,000 --> 00:37:24,800 100K party. I was there. 677 00:37:25,000 --> 00:37:27,360 You guys just drop any questions in the live chat. 678 00:37:27,360 --> 00:37:30,160 I'll make sure to answer some of them if you guys have any 679 00:37:30,160 --> 00:37:32,280 curiosities about what was happening about. 680 00:37:32,360 --> 00:37:35,760 What was it like on the floor? But stay tuned guys, we'll be 681 00:37:35,760 --> 00:37:37,120 right back. We're going to hit the news. 682 00:37:37,640 --> 00:37:40,720 I want to give a very special shout out to our sponsor, 683 00:37:40,920 --> 00:37:43,640 Compass Mining. They make Bitcoin mining 684 00:37:43,680 --> 00:37:47,520 accessible to everyone from beginners to experienced 685 00:37:47,520 --> 00:37:50,440 investors. Their turnkey miners gets you 686 00:37:50,480 --> 00:37:54,840 online and hashing within 48 hours, making it easier than 687 00:37:54,840 --> 00:37:57,120 ever to start your mining journey. 688 00:37:57,720 --> 00:38:00,960 Plus, with their active marketplace, you can resell your 689 00:38:00,960 --> 00:38:04,920 miner at any time, adding flexibility and value to your 690 00:38:04,920 --> 00:38:07,720 investment. Visit their website to access a 691 00:38:07,880 --> 00:38:11,000 wealth of resources, learning everything you need to know 692 00:38:11,000 --> 00:38:14,480 about Bitcoin mining. Take your first step into the 693 00:38:14,480 --> 00:38:17,040 world of Bitcoin mining with confidence. 694 00:38:17,200 --> 00:38:20,120 Discover more at Compass Mining dot IO. 695 00:38:20,200 --> 00:38:25,320 Again, Compass Mining dot IO and see how Compass Mining can power 696 00:38:25,440 --> 00:38:35,000 your success. I want to give. 697 00:38:35,000 --> 00:38:37,160 A shout out to our sponsor foundation. 698 00:38:37,240 --> 00:38:41,000 It's self cussy done right. They built a premium grade. 699 00:38:41,000 --> 00:38:44,640 Hardware wallet called Passport. Right here in the US and it 700 00:38:44,640 --> 00:38:48,200 integrates seamlessly with their free app called Envoy. 701 00:38:48,800 --> 00:38:51,600 Passport is fully open source and verifiable. 702 00:38:51,760 --> 00:38:55,000 It's the most intuitive Bitcoin wallet design with a UX 703 00:38:55,000 --> 00:38:58,480 reminiscent of a classic feature phone, so you'll know how to 704 00:38:58,480 --> 00:39:01,040 navigate it and use it the moment you pick it up. 705 00:39:01,200 --> 00:39:05,120 It's also air gaps, meaning Bitcoin stays offline, never 706 00:39:05,120 --> 00:39:08,720 touching an Internet connection. It's Bitcoin only open source, 707 00:39:08,720 --> 00:39:12,640 verifiable air gap security model, gorgeous design craft 708 00:39:12,640 --> 00:39:16,360 premium grade materials. Get your Bitcoin off exchanges 709 00:39:16,520 --> 00:39:18,640 and into your own hands in just a few minutes. 710 00:39:18,800 --> 00:39:23,360 With passport at foundation dot XYZ slash simply get Peace of 711 00:39:23,360 --> 00:39:27,560 Mind. All right, everybody, guys, 712 00:39:27,560 --> 00:39:31,240 remember, not your keys, not your cheese. 713 00:39:31,240 --> 00:39:33,280 You want to take self custody of your Bitcoin. 714 00:39:33,280 --> 00:39:37,680 If it's not in self custody, then it's really not your 715 00:39:37,680 --> 00:39:40,560 Bitcoin. Anyways, let's get to today's 716 00:39:40,560 --> 00:39:42,440 news. We have lots to talk about. 717 00:39:42,640 --> 00:39:47,600 So last week we covered the IRS reporting requirements. 718 00:39:47,600 --> 00:39:52,480 So essentially what that was was was they were changing some of 719 00:39:52,480 --> 00:39:56,400 the ways that you were reporting and what they were recommending 720 00:39:56,560 --> 00:40:01,320 was taking screenshots of your wallets, taking screenshots of 721 00:40:01,320 --> 00:40:04,760 your balances, taking screenshots of your exchange 722 00:40:05,000 --> 00:40:10,160 balances and all this, you know. Paperwork that I think that the 723 00:40:10,160 --> 00:40:14,880 vast majority of people did not have the expertise and it was 724 00:40:14,880 --> 00:40:18,680 really, really scary. Also the FinCEN was requiring 725 00:40:18,680 --> 00:40:23,240 small businesses to register with them, right? 726 00:40:23,840 --> 00:40:28,840 Luckily, both those things, the FinCEN ruling right now is in 727 00:40:28,840 --> 00:40:31,280 limbo. It's still in the apparently a 728 00:40:31,280 --> 00:40:35,440 lower court put a stop to that. Yeah. 729 00:40:35,440 --> 00:40:38,400 The the the 5th Circuit of appeals it's currently in right 730 00:40:38,400 --> 00:40:41,000 now for the reporting requirement for small businesses 731 00:40:41,000 --> 00:40:42,720 and LLCS. Appreciate it. 732 00:40:42,720 --> 00:40:45,360 And again, you know, I, I'm going to you, I'm going to 733 00:40:45,360 --> 00:40:50,840 borrow Elon's, you know what he's been saying these last 734 00:40:51,000 --> 00:40:55,400 couple weeks on X. Do we live in a democracy or do 735 00:40:55,400 --> 00:40:58,720 we live in a bureaucracy? You know, is, is this really 736 00:40:58,720 --> 00:41:03,040 helping everyday Americans if people, perhaps people don't 737 00:41:03,040 --> 00:41:07,040 know this about the economy, but the economy is run by small 738 00:41:07,040 --> 00:41:09,480 businesses. Yes, the big businesses, you 739 00:41:09,480 --> 00:41:13,320 know, they contribute a lot, but the, the bulk of the economy are 740 00:41:13,320 --> 00:41:16,720 small businesses. And if you overburden them with 741 00:41:17,000 --> 00:41:21,520 requirements, with bureaucracy, with paperwork, it takes time 742 00:41:21,520 --> 00:41:26,200 away from them to focus on their business, to focus on 743 00:41:26,200 --> 00:41:29,720 bureaucratic paperwork, right? And it makes the economy less 744 00:41:29,880 --> 00:41:32,680 efficient. I I believe part of the victory 745 00:41:32,680 --> 00:41:34,800 of Donald Trump comes down to this. 746 00:41:34,800 --> 00:41:38,800 I think we have an overburdening bureaucracy in the United 747 00:41:38,800 --> 00:41:40,320 States. Some people call it the deep 748 00:41:40,320 --> 00:41:42,280 state. I call it the administrative 749 00:41:42,280 --> 00:41:43,760 state. I don't think it's this grand 750 00:41:43,760 --> 00:41:46,440 conspiracy. It just, it just boils down to 751 00:41:46,440 --> 00:41:49,280 this. The money printer inevitably 752 00:41:49,280 --> 00:41:52,440 makes government bigger. It makes bureaucracy bigger. 753 00:41:52,760 --> 00:41:57,720 And because government is nonproductive by nature, the 754 00:41:57,760 --> 00:42:01,320 only way the a government can raise revenue is through 755 00:42:01,320 --> 00:42:03,480 taxation. And they tax through a very 756 00:42:03,480 --> 00:42:05,560 different two different two different ways. 757 00:42:05,560 --> 00:42:09,160 Primarily number one is income tax, direct taxation. 758 00:42:09,240 --> 00:42:13,040 That's not enough. the US government spend $1.7 trillion 759 00:42:13,040 --> 00:42:16,000 more than it collected in tax revenue in 2023. 760 00:42:16,320 --> 00:42:21,520 And #2 is taxation via monetary debasement, taxation via 761 00:42:21,600 --> 00:42:24,680 debasement. So again, you know, the question 762 00:42:24,680 --> 00:42:29,000 I believe isn't what is money, the question is what is 763 00:42:29,000 --> 00:42:31,760 government. So, but now I'm going to weave 764 00:42:31,760 --> 00:42:35,920 it back into this specifically, you know, the fin cen bit small 765 00:42:35,920 --> 00:42:38,280 business registration requirement. 766 00:42:38,520 --> 00:42:40,280 Chris gave you a little bit of an update on this. 767 00:42:40,520 --> 00:42:44,520 And then as it relates to Bitcoin, this was crazy. 768 00:42:44,520 --> 00:42:47,800 This was nuts. Essentially, you had a deadline 769 00:42:47,840 --> 00:42:53,240 until December 31st to, you know, to get all your paperwork 770 00:42:53,240 --> 00:42:56,440 in order. They were requesting people take 771 00:42:56,440 --> 00:43:00,080 screenshots of their wallet balances, of their addresses, of 772 00:43:00,080 --> 00:43:03,800 their exchange balances. Like, let's, let's throw privacy 773 00:43:03,800 --> 00:43:07,400 completely out the window. You know, you had to do all of 774 00:43:07,400 --> 00:43:09,280 that to make sure that you were compliant. 775 00:43:09,440 --> 00:43:16,200 And then coincidentally, they delay the ruling two days after 776 00:43:16,280 --> 00:43:19,000 the reporting requirement. That's a total coincidence, I 777 00:43:19,000 --> 00:43:20,760 might add. And again, I don't think they 778 00:43:20,760 --> 00:43:24,000 would have delayed anything if it wasn't for the incoming 779 00:43:24,000 --> 00:43:28,440 administration that is going to be sworn in January 20th of 780 00:43:28,440 --> 00:43:30,960 2025. We hit, we hear Trump talking 781 00:43:30,960 --> 00:43:33,840 about how he doesn't believe it's fair. 782 00:43:33,840 --> 00:43:36,920 There's a truth post on truth Truth Social post on this. 783 00:43:37,400 --> 00:43:40,800 He doesn't make it doesn't make sense to him that you have to 784 00:43:40,800 --> 00:43:44,800 pay capital gains tax on Bitcoin because Bitcoin is money, right? 785 00:43:44,920 --> 00:43:47,360 But again, he's not in office yet. 786 00:43:47,360 --> 00:43:50,080 They're not in power. Trump is not in control of the 787 00:43:50,080 --> 00:43:53,680 executive branch until January 20th. 788 00:43:53,680 --> 00:43:58,000 So these shenanigans that they're doing right up until the 789 00:43:58,000 --> 00:44:01,720 day that he gets inaugurated is absolutely hilarious. 790 00:44:01,720 --> 00:44:04,840 I mean, this is this is Lawfare, this is political games. 791 00:44:05,080 --> 00:44:07,720 And another thing too, before I pass it on to Chris and we'll 792 00:44:07,720 --> 00:44:11,160 read some of the article, is Gary Gensler isn't resigning 793 00:44:11,440 --> 00:44:13,560 until the day of the inauguration, which I think is 794 00:44:13,560 --> 00:44:15,600 very symbolic. Anyways, Chris, do you want to 795 00:44:15,600 --> 00:44:18,200 add to any of this before we check out the article? 796 00:44:18,960 --> 00:44:23,400 Yeah, Yeah, definitely. I mean, obviously I, I think 797 00:44:23,400 --> 00:44:25,880 this ruling actually passed back in August, but it was very 798 00:44:25,880 --> 00:44:27,480 quiet. It was end of August, You know, 799 00:44:27,480 --> 00:44:29,480 it was kind of the summertime was coming to a close. 800 00:44:29,640 --> 00:44:34,360 I think it was prior to the September like Congress getting 801 00:44:34,360 --> 00:44:36,360 together, but it kind of slipped under the radar. 802 00:44:36,360 --> 00:44:38,280 And then within the last two to three weeks, everyone was like, 803 00:44:38,280 --> 00:44:41,000 holy shit, we have until December 31st to do this whole 804 00:44:41,000 --> 00:44:42,680 time stamping thing for our wallets. 805 00:44:42,880 --> 00:44:46,120 They were basically changing from a universal cost basis to a 806 00:44:46,120 --> 00:44:48,680 per wallet method. So then even a lot of people 807 00:44:48,680 --> 00:44:50,240 that were looking into this, it's like, yo, you should 808 00:44:50,240 --> 00:44:52,320 probably consolidate even wallets and stuff. 809 00:44:52,520 --> 00:44:55,200 And you know that like it's, it's kind of one of those things 810 00:44:55,200 --> 00:44:58,160 that's like, you know, take a breath and don't do things very 811 00:44:58,160 --> 00:44:59,440 quickly. But a lot of people are kind of 812 00:44:59,440 --> 00:45:01,360 panicked and like you were saying, they're like using 813 00:45:01,360 --> 00:45:04,000 timestamps and taking screenshots and all these 814 00:45:04,000 --> 00:45:05,960 different things. And then they were recommending, 815 00:45:06,120 --> 00:45:08,440 like a lot of influencers were recommending consolidating your 816 00:45:08,440 --> 00:45:09,960 wallets. But that's a as people in the 817 00:45:09,960 --> 00:45:13,040 Bitcoin space know, that's like a huge doxing of your privacy. 818 00:45:13,040 --> 00:45:16,120 If you're consolidating UTXOSA, lot of times you're showing how 819 00:45:16,120 --> 00:45:18,320 much Bitcoin you have to previous people that were 820 00:45:18,320 --> 00:45:20,240 sending you money. So I think this is a whole 821 00:45:21,000 --> 00:45:24,440 clusterfuck, to say the least. And, you know, I'm glad that 822 00:45:24,440 --> 00:45:26,360 it's being pushed back. I hope that Trump's 823 00:45:26,360 --> 00:45:28,720 administration comes in and just kind of like gets rid of this 824 00:45:28,720 --> 00:45:30,520 all together. I don't think that's going to 825 00:45:30,520 --> 00:45:32,120 happen. But you know, I'll, I'll be 826 00:45:32,120 --> 00:45:33,600 hopeful for it. Yeah, absolutely. 827 00:45:33,600 --> 00:45:36,040 I think that's a very, very, very good summary. 828 00:45:36,040 --> 00:45:38,520 And and again, like it, it was insane. 829 00:45:38,520 --> 00:45:41,200 Like it was borderline, I called it last week, I said this is 830 00:45:41,200 --> 00:45:44,440 borderline tyrannical, like the a bit small business 831 00:45:44,440 --> 00:45:48,480 registration FinCEN and then the you know, this, this reporting 832 00:45:48,480 --> 00:45:50,120 requirement. Mind you, this is coming from a 833 00:45:50,120 --> 00:45:53,880 government. The Pentagon has failed 7 audits 834 00:45:53,880 --> 00:45:59,920 in a row and they have 60% of their total assets or budget 835 00:45:59,920 --> 00:46:03,000 completely unaccounted for. If you did that as a private 836 00:46:03,000 --> 00:46:05,080 citizen, you'd go to jail, right? 837 00:46:05,280 --> 00:46:07,400 And they just say no, we're going to do better next time. 838 00:46:07,800 --> 00:46:11,080 Like again, the problem isn't the rules, the problem is the 839 00:46:11,080 --> 00:46:14,720 double standard Problem is that the politicians that expect us 840 00:46:14,720 --> 00:46:18,520 peasants I guess, to follow these rules, they don't follow 841 00:46:18,520 --> 00:46:19,600 it. They don't follow them 842 00:46:19,600 --> 00:46:21,920 themselves. And again, that's not a 843 00:46:21,920 --> 00:46:23,840 government by the people for the people. 844 00:46:24,040 --> 00:46:27,040 That's a government by the government for the government. 845 00:46:27,040 --> 00:46:30,640 And my theory of the cases is as as much as I like Elon with the 846 00:46:30,640 --> 00:46:34,160 whole doge thing and Vivac with the, you know, government 847 00:46:34,160 --> 00:46:37,560 efficiency and like whatever, it doesn't solve the root problem. 848 00:46:37,560 --> 00:46:40,800 And the root problem is the fact that the government has the 849 00:46:40,800 --> 00:46:45,280 ability to create money out of thin air, which they use to fund 850 00:46:45,280 --> 00:46:48,080 themselves. Then politicians use to fund 851 00:46:48,240 --> 00:46:50,600 crazy ideas. I would even make, I would even 852 00:46:50,920 --> 00:46:54,720 make the case that this is what politicians use to fund war too, 853 00:46:54,840 --> 00:46:56,240 right? This is a very, very deep rabbit 854 00:46:56,240 --> 00:46:58,400 hole. But anyway, so let's get to some 855 00:46:58,400 --> 00:47:01,880 of the details. IRS delays Bitcoin cost basis 856 00:47:01,880 --> 00:47:07,000 reporting rules until 2026 The IRS The IRS announced that it 857 00:47:07,000 --> 00:47:09,960 has delayed new Bitcoin tax reporting rules until early 858 00:47:09,960 --> 00:47:12,840 2026. The extension provides brokers 859 00:47:12,840 --> 00:47:16,360 with additional time to adjust the cost basis regulations for 860 00:47:16,360 --> 00:47:20,360 centralized platforms. The IRS has provided a temporary 861 00:47:20,360 --> 00:47:23,200 break for Bitcoin and other cryptocurrency investors by 862 00:47:23,200 --> 00:47:26,520 delaying new reporting rules that would have required a 863 00:47:26,520 --> 00:47:30,600 default accounting method for trades on centralized exchanges. 864 00:47:30,880 --> 00:47:34,200 The Treasury Department and the IRS understand that some digital 865 00:47:34,200 --> 00:47:38,480 asset brokers may not have in place by January 1st, 2025 the 866 00:47:38,480 --> 00:47:41,880 technology needed to accept specific instructions or 867 00:47:41,880 --> 00:47:45,080 standing orders communicated by taxpayers. 868 00:47:45,280 --> 00:47:49,880 These technology limitations may leave some taxpayers unable to 869 00:47:49,880 --> 00:47:55,120 make adequate identifications in conformity with like just a 870 00:47:55,120 --> 00:47:56,880 bunch of number regulation. Whatever. 871 00:47:57,200 --> 00:48:01,040 In July, the IRS and Treasury Department introduced rules to 872 00:48:01,040 --> 00:48:04,120 determine which cryptocurrency units are sold in brokerage 873 00:48:04,120 --> 00:48:06,800 accounts using wallet by wallet accounting. 874 00:48:07,040 --> 00:48:10,960 If no accounting method is chosen, the first in first out 875 00:48:10,960 --> 00:48:15,280 method will apply, selling the earliest acquired assets first, 876 00:48:15,400 --> 00:48:19,720 which may lead to higher taxable gains during market upswings. 877 00:48:20,160 --> 00:48:25,320 The extension will be in effect until December 31st, 2025, 878 00:48:25,320 --> 00:48:28,880 giving brokers more time to adapt to different accounting 879 00:48:28,880 --> 00:48:31,240 methods. During the relief period, 880 00:48:31,240 --> 00:48:35,480 taxpayers can use methods like highest in, first out or 881 00:48:35,480 --> 00:48:39,160 specific identification to choose assets to sell and 882 00:48:39,160 --> 00:48:43,480 enhancing flexibility and potentially reducing tax impact. 883 00:48:44,200 --> 00:48:48,760 So again, listen, I'm calling BS here. 884 00:48:49,080 --> 00:48:53,800 I scrambled to like again, the, the I scramble to get compliant. 885 00:48:53,800 --> 00:48:56,760 I make sure to get like my, my accountant, like dude, what's 886 00:48:56,760 --> 00:48:58,560 going on here? You know, because at the end of 887 00:48:58,560 --> 00:49:03,840 the day, like, like guys like if you don't do your taxes, like 888 00:49:03,840 --> 00:49:06,360 bad things happen, you know, like bad things happen from a 889 00:49:06,360 --> 00:49:08,640 legal perspective. Like, you know, you could see 890 00:49:08,640 --> 00:49:11,600 this with the case of Roger Ver. You could see this with the case 891 00:49:11,600 --> 00:49:14,080 of John McAfee. Like, you know, and they will 892 00:49:14,080 --> 00:49:16,520 make an example out of you specifically too, if you work in 893 00:49:16,520 --> 00:49:19,240 the Bitcoin industry, right? So it's like you obviously you 894 00:49:19,240 --> 00:49:21,960 want to stay, you want to do it. Do I agree with it? 895 00:49:21,960 --> 00:49:24,160 No. I think the American public was 896 00:49:24,160 --> 00:49:28,320 psyopped into central banking in 1913, which coincidentally 897 00:49:28,320 --> 00:49:31,160 another coincidence was the first year that they introduced 898 00:49:31,400 --> 00:49:34,000 the income tax. I think eventually 899 00:49:34,440 --> 00:49:37,760 democratically and through the legislative process, a lot of 900 00:49:37,760 --> 00:49:40,920 this stuff will get repealed or taxation will get to a point 901 00:49:41,120 --> 00:49:45,640 where it kind of makes sense. I think the current like method 902 00:49:45,640 --> 00:49:48,840 of taxation, I think is completely unreasonable. 903 00:49:49,880 --> 00:49:54,200 And again, it's not like they are fiscally responsible 904 00:49:54,240 --> 00:49:56,840 themselves, right? It's like they're sending 905 00:49:56,840 --> 00:50:00,360 billions of dollars to fund wars that you might not necessarily 906 00:50:00,360 --> 00:50:02,680 agree with. Not only that, they're spending 907 00:50:02,680 --> 00:50:04,960 money they don't have by debasing the currency. 908 00:50:05,120 --> 00:50:07,800 So it's like you have to pay taxes on everything. 909 00:50:07,800 --> 00:50:10,840 It's absolutely insane. And they're not even using that 910 00:50:10,840 --> 00:50:13,880 money to better the country. They're using, they're you're 911 00:50:13,880 --> 00:50:15,880 using that money and they're squandering it, right. 912 00:50:16,200 --> 00:50:20,200 So, but again, you know, I find it hilarious that you know, 913 00:50:20,200 --> 00:50:23,840 they, they, they scared the living bejeebas out of everybody 914 00:50:24,320 --> 00:50:26,840 two or three weeks before the end of the year, basically 915 00:50:26,840 --> 00:50:29,160 saying you got to kick compliant, you got to make sure 916 00:50:29,160 --> 00:50:31,960 you're organized. And then two days after the 917 00:50:31,960 --> 00:50:35,200 so-called deadline, they're like, oh, no, you know what? 918 00:50:35,200 --> 00:50:36,680 Actually, we're going to delay it another year. 919 00:50:36,680 --> 00:50:40,360 They did that on purpose. That was 100% on purpose, I have 920 00:50:40,360 --> 00:50:43,440 no doubt in my mind. And I also think they're taking 921 00:50:43,440 --> 00:50:46,440 advantage of the fact that they're still technically in 922 00:50:46,440 --> 00:50:49,640 power for 18 days. The current administration, and 923 00:50:49,640 --> 00:50:53,160 we know how the current administration feels about the 924 00:50:53,160 --> 00:50:55,960 Bitcoin industry. So yeah, those are my thoughts 925 00:50:55,960 --> 00:50:58,280 on that. Chris, what are your thoughts? 926 00:50:58,480 --> 00:51:03,280 Like it's just like, dude, it, it, it, this is crazy, man. 927 00:51:03,280 --> 00:51:06,720 This is, this is, this is nuts. It, it feels like a mafia, like, 928 00:51:06,720 --> 00:51:09,640 I don't know how to say. Like I feel like I'm like, you 929 00:51:09,640 --> 00:51:13,160 know, like it's like, like if you don't do this, like they're 930 00:51:13,160 --> 00:51:15,120 going to lock you in a box. Like that's what it feels like, 931 00:51:15,120 --> 00:51:16,640 you know? And then they make examples out 932 00:51:16,640 --> 00:51:19,600 of people that, you know, work on our industry. 933 00:51:19,600 --> 00:51:22,360 Like, dude, it's, it's, it's kind of scary bro, not not going 934 00:51:22,360 --> 00:51:25,080 to lie. Yeah, definitely. 935 00:51:25,760 --> 00:51:29,520 You know, I'll speak for myself like I thought this is a load of 936 00:51:29,520 --> 00:51:31,600 crap. I didn't waste my time doing all 937 00:51:31,600 --> 00:51:33,920 this stuff because I was like, I, I think it's 938 00:51:33,920 --> 00:51:35,680 unconstitutional. And if it comes to it, I'd 939 00:51:35,680 --> 00:51:37,720 rather fight it in the courts than comply with the stupid 940 00:51:37,720 --> 00:51:39,480 crap. Not saying I don't pay my taxes. 941 00:51:39,480 --> 00:51:41,160 I do. I'm a law abiding citizen in all 942 00:51:41,160 --> 00:51:44,560 regards, But it also just shows their complete disregard and 943 00:51:44,560 --> 00:51:46,680 complete lack of understanding how Bitcoin works. 944 00:51:46,880 --> 00:51:49,080 They're like they're saying, I mean, Nico, you said in the, 945 00:51:49,160 --> 00:51:51,520 the, the broadcast, the beginning, this is your 9th year 946 00:51:51,520 --> 00:51:54,040 in Bitcoin and they're saying, oh, you have to pay based on the 947 00:51:54,320 --> 00:51:57,200 taxes of the very first Bitcoin you bought 9 years ago. 948 00:51:57,200 --> 00:51:58,600 And you know, we can look at the charts. 949 00:51:58,600 --> 00:52:00,520 That's a crazy astronomical difference. 950 00:52:00,520 --> 00:52:04,160 But Bitcoin's on a UTXO based accounting model, meaning that, 951 00:52:04,280 --> 00:52:06,720 you know, when you buy a UTXO right now, if I buy Bitcoin, I'm 952 00:52:06,720 --> 00:52:09,920 buying it at, you know, the price is, let's just say $95,000 953 00:52:09,920 --> 00:52:11,360 right now. But then they're saying, oh, if 954 00:52:11,360 --> 00:52:14,320 I were to sell that same lot or that UTXO that I'd have to do 955 00:52:14,320 --> 00:52:16,640 the cost basis of whenever you got into Bitcoin, that's a load 956 00:52:16,640 --> 00:52:17,920 of crap. That's not how that works. 957 00:52:18,080 --> 00:52:21,240 Imagine I'm telling you, Nico, and every, the thing that drives 958 00:52:21,240 --> 00:52:24,520 me insane is the IRS wants to call it, you know, property. 959 00:52:24,640 --> 00:52:27,240 You know, the CFTC wants to call it a commodity. 960 00:52:27,520 --> 00:52:30,520 The SEC wants to call these things securities or like 961 00:52:30,520 --> 00:52:32,920 whatever they want to all have their own definition so they can 962 00:52:32,920 --> 00:52:36,200 tax you or fine you or track you in whatever way they won't want. 963 00:52:36,400 --> 00:52:39,200 Well, so OK, let's go with the FBI or not the FBI. 964 00:52:39,280 --> 00:52:44,480 The IRS is a definition of Bitcoin being a real estate like 965 00:52:44,480 --> 00:52:45,960 that. That's the way they define it. 966 00:52:46,080 --> 00:52:48,360 So does that mean that if you're a real estate investor, that if 967 00:52:48,360 --> 00:52:51,000 you sell a property that you got last, you have 50 properties? 968 00:52:51,000 --> 00:52:52,680 We're making up this fictitious example. 969 00:52:52,800 --> 00:52:55,120 That means that if I sell my 50th property, that I have to 970 00:52:55,120 --> 00:52:57,480 get taxed on the basis of the first property I bought? 971 00:52:57,480 --> 00:52:59,640 No, that's asinine. It doesn't make any sense. 972 00:52:59,640 --> 00:53:02,040 It's stupid, and they're just trying to put their claws and 973 00:53:02,040 --> 00:53:03,760 teeth into the industry and hamper it. 974 00:53:04,120 --> 00:53:06,840 That doesn't even that's completely disregarding the 975 00:53:06,840 --> 00:53:08,880 compliance requirement. I mean, let's look at those 976 00:53:08,880 --> 00:53:10,880 realistically. OK, so you have to hire someone 977 00:53:11,000 --> 00:53:13,640 that's a a lawyer that's went to law school to like read through 978 00:53:13,640 --> 00:53:15,880 these regulations. Let's just assume on a safe side 979 00:53:15,880 --> 00:53:19,240 that's 150 to $200,000. That doesn't even include any of 980 00:53:19,240 --> 00:53:22,400 the mechanisms, the brokerages, the exchanges, Bitcoin, Wells, 981 00:53:22,400 --> 00:53:25,680 Swan River Cash app strike any of these. 982 00:53:25,800 --> 00:53:27,960 You know, it basically makes it that only the coin bases can 983 00:53:27,960 --> 00:53:29,840 afford to do compliance regulatory like that. 984 00:53:30,000 --> 00:53:32,080 So then you're further consolidating it. 985 00:53:32,240 --> 00:53:34,360 I mean, the the ETFs are an issue by themselves because 986 00:53:34,360 --> 00:53:37,400 basically Coinbase is the broker dealer or, or the authorized 987 00:53:37,400 --> 00:53:39,320 participant for the majority of the ETFs. 988 00:53:39,320 --> 00:53:41,520 I know there are a few that have broken away, but I guess I'll 989 00:53:41,520 --> 00:53:43,120 end my rent there. That like, they're just trying 990 00:53:43,120 --> 00:53:44,240 to put their claws in the industry. 991 00:53:44,320 --> 00:53:45,640 They're trying to pick winners and losers. 992 00:53:45,800 --> 00:53:48,440 They're trying to dox your privacy, and they're trying to 993 00:53:48,440 --> 00:53:50,800 make it harder for people to use Bitcoin in a peer-to-peer 994 00:53:50,800 --> 00:53:54,000 manner, like. 100% I think I think that the the last point 995 00:53:54,000 --> 00:53:57,760 you're you're 100% spot on it. I think this comes down to their 996 00:53:57,760 --> 00:53:59,400 heart. They're making it harder for 997 00:53:59,760 --> 00:54:02,280 they want to make it harder for people to use peer-to-peer 998 00:54:02,520 --> 00:54:05,760 because they know that their existing system, it's going to 999 00:54:05,800 --> 00:54:08,240 be very difficult, man. It's going to be very difficult. 1000 00:54:08,440 --> 00:54:11,320 And like, and I'm seeing this and, and I'm just like 1001 00:54:11,320 --> 00:54:13,880 incentivize, like, dude, I'm just going to hold. 1002 00:54:13,880 --> 00:54:17,080 Like, I'm just going to hold. Like, why am I like, this is a 1003 00:54:17,080 --> 00:54:19,040 nightmare. This is crazy. 1004 00:54:19,280 --> 00:54:22,200 So it's like, not only do you work and you know, you have to 1005 00:54:22,200 --> 00:54:24,240 get up every morning, you have to provide for your family, but 1006 00:54:24,560 --> 00:54:27,840 you know, you have to dedicate a big percentage, especially if 1007 00:54:27,840 --> 00:54:31,400 you have a business, if you, you know, if you employ people, you 1008 00:54:31,400 --> 00:54:34,800 know, if you have investments, like you have to like 1009 00:54:34,840 --> 00:54:39,400 essentially invest time and money into just paying your 1010 00:54:39,400 --> 00:54:41,400 taxes. And they still might be wrong, 1011 00:54:41,960 --> 00:54:44,080 right? Like it's, it's, it's, it's a, 1012 00:54:44,120 --> 00:54:46,440 it's, it's crazy. It's, it's, it's really, really 1013 00:54:46,440 --> 00:54:48,160 insane. And specifically, now that 1014 00:54:48,160 --> 00:54:51,640 there's jurisdictions like Dubai, you know, there's there's 1015 00:54:51,640 --> 00:54:54,400 a specific one in the United States where there's 1016 00:54:54,400 --> 00:54:58,400 jurisdictions where you can go there and you can live there a 1017 00:54:58,400 --> 00:55:01,520 percentage of the year there and you don't pay any taxes at all, 1018 00:55:01,880 --> 00:55:03,280 right? And I'm hearing from friends, 1019 00:55:03,280 --> 00:55:05,440 I'm not going to name any specific ones, but they're 1020 00:55:05,440 --> 00:55:10,440 friends of mine that have given up their citizenship altogether 1021 00:55:10,760 --> 00:55:13,040 and have chosen just to leave, right? 1022 00:55:13,120 --> 00:55:15,520 So this is insane, man. This is crazy. 1023 00:55:15,520 --> 00:55:18,280 This wasn't what the United States would like. 1024 00:55:18,400 --> 00:55:23,080 I saw a meme the other day which was like like the founding 1025 00:55:23,080 --> 00:55:28,680 fathers revolt revolted over a 3% like tax T tax and like here 1026 00:55:28,680 --> 00:55:32,200 we are like the highest tax brackets like 40% if you live in 1027 00:55:32,200 --> 00:55:34,640 California it's like 55. It's insane. 1028 00:55:35,440 --> 00:55:37,920 Anyways, Jack what? What's your take on all this, 1029 00:55:37,920 --> 00:55:44,440 brother? Yeah, so we, yeah, I, I, I have 1030 00:55:44,440 --> 00:55:47,000 to do like the accounting for Thunder games and it's almost 1031 00:55:47,000 --> 00:55:51,840 like a massive, you know, we did like 4 million transactions one 1032 00:55:51,840 --> 00:55:53,800 year. So I was like, couldn't even fit 1033 00:55:53,800 --> 00:55:55,960 it on a spreadsheet. You know, it's a field special 1034 00:55:55,960 --> 00:55:59,600 software just to calculate all this stuff because it's not just 1035 00:55:59,600 --> 00:56:02,120 the price you bought it at, it's the price you dispose of it. 1036 00:56:02,120 --> 00:56:04,240 So we had like 4 million disposal. 1037 00:56:04,240 --> 00:56:08,200 So it was a nightmare. But yeah, I think in the UK we 1038 00:56:08,200 --> 00:56:10,480 have different, slightly different rules, which kind of 1039 00:56:10,480 --> 00:56:16,400 makes it a little bit easier. We have shared pool accounting 1040 00:56:16,400 --> 00:56:21,200 where you don't have to go back to like the UTXO of whatever, 1041 00:56:21,280 --> 00:56:23,480 dispose of that one. It's like whatever, it's just 1042 00:56:23,480 --> 00:56:28,120 all in one pole and it just has an average price and we have our 1043 00:56:28,480 --> 00:56:32,880 capital gains tax works that you get like 3000 is tax free. 1044 00:56:33,320 --> 00:56:36,960 So for day-to-day like Bitcoin usage, you don't really have to 1045 00:56:36,960 --> 00:56:41,160 keep track of it because it's just not going to be made that 1046 00:56:41,160 --> 00:56:44,040 33000. So we have slightly different 1047 00:56:44,040 --> 00:56:47,520 rules and maybe so like I don't even like our ones. 1048 00:56:47,520 --> 00:56:50,920 They sound slightly simpler, but it's just a nightmare. 1049 00:56:50,920 --> 00:56:55,720 It should just have no tax, just for simplicity's sake and so we 1050 00:56:55,720 --> 00:56:57,520 don't have to pay tax. But that's my take. 1051 00:56:59,120 --> 00:57:02,000 Yeah, I'll add one thing to that you said Jack, though. 1052 00:57:02,000 --> 00:57:04,320 That's insane that you had 4 million transactions just to 1053 00:57:04,320 --> 00:57:07,040 give people a concept like Microsoft Excel might be one of 1054 00:57:07,040 --> 00:57:09,920 the greatest programs ever made. You know, whatever you say about 1055 00:57:09,920 --> 00:57:12,080 Microsoft, they're a shitty company overall, but their 1056 00:57:12,080 --> 00:57:14,320 product of Excel is probably one of the best that's ever made. 1057 00:57:14,400 --> 00:57:17,320 It just has over about 1,000,000 rows that you can have in a 1058 00:57:17,320 --> 00:57:19,960 single document without like, you know, doing something 1059 00:57:19,960 --> 00:57:21,280 special or creating special software. 1060 00:57:21,280 --> 00:57:24,240 I think Google Sheets is 1000, maybe 100,000. 1061 00:57:24,240 --> 00:57:27,240 So props to you guys for basically doing 4X what a normal 1062 00:57:27,240 --> 00:57:28,880 Excel sheet can fit for transactions. 1063 00:57:29,680 --> 00:57:32,680 Yeah, it's a bit of a yeah, it's, you know, people don't 1064 00:57:32,680 --> 00:57:34,600 really see that like they're right. 1065 00:57:34,600 --> 00:57:40,280 And that that that article that the technology doesn't exist to 1066 00:57:40,280 --> 00:57:43,960 even do some, some of these like things because we had to build 1067 00:57:43,960 --> 00:57:46,240 our own stuff. Like imagine if you know you 1068 00:57:46,240 --> 00:57:49,760 didn't have a developer team to to build special tools to do 1069 00:57:49,760 --> 00:57:51,520 your own accounting as a nightmare. 1070 00:57:52,520 --> 00:57:55,360 Yeah, absolutely, absolutely. All right, ladies and gentlemen, 1071 00:57:55,360 --> 00:57:56,640 stay tuned. We're going to talk about a lot 1072 00:57:56,640 --> 00:57:57,600 of things. We're going to talk about 1073 00:57:57,600 --> 00:57:59,520 Thunder games. We're going to talk about the 1074 00:57:59,520 --> 00:58:02,720 Sailor 100K party. If you guys, you guys have any 1075 00:58:02,720 --> 00:58:05,840 questions about the party, drop it in the chat. 1076 00:58:05,840 --> 00:58:07,840 I'll make sure to answer some of them. 1077 00:58:08,080 --> 00:58:11,080 So stay tuned. We are about to hit the culture 1078 00:58:11,080 --> 00:58:12,600 segment. We will be right back. 1079 00:58:13,560 --> 00:58:16,560 I want to give a shout out to our sponsor Hive Digital 1080 00:58:16,560 --> 00:58:19,760 Technologies. As the first ever public miner, 1081 00:58:19,880 --> 00:58:23,440 Hive's been battle tested through every possible market 1082 00:58:23,680 --> 00:58:28,360 and as the first with an AI strategy, Hive continues to 1083 00:58:28,360 --> 00:58:31,360 redefine the future of sustainable energy. 1084 00:58:31,520 --> 00:58:33,800 Also got to casually drop this in here. 1085 00:58:33,960 --> 00:58:38,720 Hive consistently tops the industry in Bitcoin mine per 1086 00:58:38,880 --> 00:58:41,240 Exahash. They're lean and mean, they're 1087 00:58:41,240 --> 00:58:44,200 green and clean, and they're changing the the game. 1088 00:58:44,360 --> 00:58:48,160 Learn more by following them at Hive Digital Tech or check out 1089 00:58:48,160 --> 00:58:51,440 their website, hivedigitaltech.com. 1090 00:59:03,600 --> 00:59:07,560 All right, everybody, guys, I want to tell you guys about our 1091 00:59:07,560 --> 00:59:10,520 sponsor bit Block Boom. Guys, this is going to be one of 1092 00:59:10,520 --> 00:59:13,320 the best Bitcoin conferences of the year. 1093 00:59:13,560 --> 00:59:18,800 April 3rd through the 6th 2025. Network and learn with fellow 1094 00:59:18,800 --> 00:59:22,000 Bitcoiners in Dallas, TX. It's going to be one of the the 1095 00:59:22,000 --> 00:59:24,360 best Bitcoin conferences of the year. 1096 00:59:24,560 --> 00:59:27,680 It's a true Bitcoin conference. This is the first Bitcoin 1097 00:59:27,680 --> 00:59:30,240 conference for me and Opti actually met each other in 1098 00:59:30,240 --> 00:59:32,120 person. If you're trying to get a job in 1099 00:59:32,120 --> 00:59:34,280 the industry or network with some of your favorite fellow 1100 00:59:34,280 --> 00:59:36,560 Bitcoiners, potentially get interviews with them. 1101 00:59:36,560 --> 00:59:39,760 You know, if you're trying to grow your podcast in person, 1102 00:59:39,760 --> 00:59:42,160 Meetspace events are the place to do it. 1103 00:59:42,400 --> 00:59:45,880 And the Bit Block Bit Block Boom conference is one of the best 1104 00:59:45,880 --> 00:59:50,280 and most well respected Bitcoin conferences of the year. 1105 00:59:50,840 --> 00:59:53,520 Get your tickets quickly before the prices increase and they 1106 00:59:53,520 --> 00:59:56,160 will. In 16 hours, you will have a 1107 00:59:56,160 --> 01:00:04,800 price increase if you use promo code BBB 21 again, BBB 21, you 1108 01:00:04,800 --> 01:00:10,080 get $100 off of your tickets. So get your tickets now scan the 1109 01:00:10,080 --> 01:00:16,200 QR code or check the link in the video slash podcast description. 1110 01:00:16,680 --> 01:00:20,120 All right, everybody, I do want to open up the conversation to, 1111 01:00:20,120 --> 01:00:24,040 you know, some let's do a little bit of a recap of. 1112 01:00:24,080 --> 01:00:28,000 Of the sailor 100K party have some footage of it. 1113 01:00:28,760 --> 01:00:33,240 Our friends over at Bitcoin magazine and my sister of Zemo 1114 01:00:33,240 --> 01:00:37,200 media put together an amazing production covering the event, 1115 01:00:37,200 --> 01:00:39,600 doing drone shots and everything. 1116 01:00:39,600 --> 01:00:43,240 So I have a have some video of you guys for I have some video 1117 01:00:43,240 --> 01:00:45,240 of it for you guys. I'll, I'll Fast forward it. 1118 01:00:45,800 --> 01:00:49,160 We can have that in the background playing while we talk 1119 01:00:49,160 --> 01:00:51,440 about it. But yeah, it was absolutely 1120 01:00:51,440 --> 01:00:54,000 awesome. Sailor had his entire Miami 1121 01:00:54,000 --> 01:00:58,280 estate decked out. He had, you know, he had a dance 1122 01:00:58,280 --> 01:01:02,200 floor, he had the pools open, he had food, he had his yacht open 1123 01:01:02,200 --> 01:01:04,240 at the end. It was a it was a great party. 1124 01:01:04,240 --> 01:01:08,320 He had dancers, acrobatic dancers, he had a red carpet. 1125 01:01:09,160 --> 01:01:11,560 You know, it was an absolutely phenomenal event. 1126 01:01:11,560 --> 01:01:16,960 Also, you know, he had the podcasting station open, he had 1127 01:01:17,360 --> 01:01:20,880 some of the biggest Bitcoin Youtubers and and content 1128 01:01:20,880 --> 01:01:22,760 creators. I was there on the desk as well 1129 01:01:22,760 --> 01:01:26,720 with Russo and Alan of BT of Bitcoin Magazine. 1130 01:01:27,120 --> 01:01:28,400 So it was a, it was a wonderful there. 1131 01:01:28,400 --> 01:01:31,400 It was a great event. And yeah, it was, it was a great 1132 01:01:31,400 --> 01:01:33,440 time. So that's why I was not 1133 01:01:33,440 --> 01:01:37,880 available for the last two days. Opti was holding it down. 1134 01:01:38,280 --> 01:01:42,520 But no, we didn't hit 100K. You know, we didn't hit 100K 1135 01:01:42,520 --> 01:01:46,400 during the party. Anyways, I heard we are close to 1136 01:01:46,960 --> 01:01:51,480 we are close to 300 K 300 likes on YouTube. 1137 01:01:51,480 --> 01:01:56,440 So if you guys are enjoying the show so far, make sure to smash 1138 01:01:56,520 --> 01:01:58,880 that like button. But yes, this is where I've been 1139 01:01:59,120 --> 01:02:02,920 the last two days. I've been recovering and and 1140 01:02:02,920 --> 01:02:05,920 going to the sailor party. I want to talk about what our 1141 01:02:05,920 --> 01:02:10,680 guests why our guest is here today Thunder games Thunder 1142 01:02:10,680 --> 01:02:14,280 games is when Bitcoin by playing games. 1143 01:02:14,280 --> 01:02:17,080 You could download a lot of these on the App Store like 1144 01:02:17,080 --> 01:02:22,680 clinch like tetro tiles club Bitcoin solitaire bounce along 1145 01:02:22,720 --> 01:02:25,800 with blockchain. The blockchain classic snake. 1146 01:02:26,000 --> 01:02:31,120 Can you reach 100 miles an hour and Bitcoin bubble shooter so 1147 01:02:31,160 --> 01:02:34,360 Jack can you give a little bit of a like of a of a low down. 1148 01:02:34,360 --> 01:02:38,640 What is Thunder games? That sounds way too good to be 1149 01:02:38,640 --> 01:02:41,400 true. You know what do you mean? 1150 01:02:41,400 --> 01:02:45,960 Like you can What do you mean you can earn Bitcoin playing 1151 01:02:45,960 --> 01:02:48,480 games that That sounds way too good to be true? 1152 01:02:48,480 --> 01:02:50,840 What's going on there? Yeah. 1153 01:02:50,840 --> 01:02:55,280 So we've got a couple of as you, you point out few categories of 1154 01:02:55,280 --> 01:02:58,000 games there. The the main way that you can 1155 01:02:58,000 --> 01:03:02,240 earn Bitcoin in our games is we have competitions that free to 1156 01:03:02,280 --> 01:03:06,240 enter and prize draws and different tournaments. 1157 01:03:06,240 --> 01:03:09,440 So we have a lot of different games like classic solitaire 1158 01:03:09,440 --> 01:03:13,600 games or arcade games like racing games. 1159 01:03:14,040 --> 01:03:16,760 And basically just by playing the game, you get automatically 1160 01:03:16,760 --> 01:03:20,320 entered into a tournament and then depending on how good you 1161 01:03:20,320 --> 01:03:22,520 are at the game is how many sats you win. 1162 01:03:23,040 --> 01:03:26,720 So everyone always wins at least one SAT entering the tournament. 1163 01:03:26,720 --> 01:03:30,640 So everyone wins and yeah, you can just pick a game that you 1164 01:03:30,640 --> 01:03:32,920 enjoy and play and earn some Sats. 1165 01:03:33,360 --> 01:03:37,320 And then we have different versions of our games which are 1166 01:03:37,360 --> 01:03:40,400 skill based wagering games. So after you've earned a few 1167 01:03:40,400 --> 01:03:44,880 sacks inside the solitaire game, you can take those and use them 1168 01:03:44,880 --> 01:03:47,400 to compete against other people. So you can put your own sacks on 1169 01:03:47,400 --> 01:03:50,160 the line and try and win even more sacks if you're brave 1170 01:03:50,160 --> 01:03:52,320 enough. So yeah, that's kind of the long 1171 01:03:52,320 --> 01:03:55,560 and short bit. That's awesome and and that's 1172 01:03:55,560 --> 01:03:57,920 really cool. And and again, like what, how 1173 01:03:57,920 --> 01:04:00,360 does it work for you guys? Like it feels like you guys are 1174 01:04:00,360 --> 01:04:04,080 just giving up Bitcoin for people to play games. 1175 01:04:04,080 --> 01:04:06,520 Like how does that make sense? Yeah. 1176 01:04:06,520 --> 01:04:12,200 So that is what we're doing. So we have some partners and we 1177 01:04:12,200 --> 01:04:15,000 have advertisers. And So what we do is we share 1178 01:04:15,000 --> 01:04:18,040 some of those advertising revenues with the users. 1179 01:04:18,560 --> 01:04:22,520 So during the gameplay, you will see, you know, banner ads, just 1180 01:04:22,520 --> 01:04:26,440 the normal advertisements you would see in any normal mobile 1181 01:04:26,440 --> 01:04:28,680 game. So we share those back with the 1182 01:04:28,680 --> 01:04:33,320 users and we also have partners who are like Bitcoin wallets. 1183 01:04:33,320 --> 01:04:39,560 So we've worked with Cash App, Speed, Zebedee, Wallace, Toshi 1184 01:04:39,560 --> 01:04:44,480 in the past pouch and we try to on board people and teach them 1185 01:04:44,480 --> 01:04:46,280 how to use their get their first Bitcoin wallet. 1186 01:04:46,280 --> 01:04:49,120 So you can imagine someone who's new to Bitcoin, they come to the 1187 01:04:49,120 --> 01:04:52,360 game, they win some Bitcoin and then they need to learn how to 1188 01:04:52,360 --> 01:04:55,800 cash it out from our game. So then we onboard them to their 1189 01:04:55,800 --> 01:04:59,080 first Bitcoin wallet, which is nearly always a Lightning 1190 01:04:59,080 --> 01:05:02,560 wallet. And when we onboard those users, 1191 01:05:02,560 --> 01:05:05,240 we that is like an advertising placement. 1192 01:05:05,640 --> 01:05:10,360 So we get Commission for that and we obviously give that back 1193 01:05:10,360 --> 01:05:12,360 to the users in the tournaments as well. 1194 01:05:13,320 --> 01:05:15,480 That's awesome, dude. That's that's pretty cool. 1195 01:05:15,480 --> 01:05:18,280 And again, it's, it sounds like aligned incentives, right? 1196 01:05:18,520 --> 01:05:22,560 Like you guys benefit from it, but also your users a lot a 1197 01:05:22,560 --> 01:05:24,840 benefit from it too. I'm assuming the payouts are 1198 01:05:24,840 --> 01:05:27,600 enlightening. Could you talk a little bit 1199 01:05:27,600 --> 01:05:29,600 about that? Yeah. 1200 01:05:29,600 --> 01:05:31,360 So the payouts are all in Lightning. 1201 01:05:31,360 --> 01:05:33,080 That's why I alluded to earlier in the show. 1202 01:05:33,080 --> 01:05:35,440 We had like 4 million transactions a year or 1203 01:05:35,440 --> 01:05:37,280 something. It might be more of, to be 1204 01:05:37,280 --> 01:05:38,880 honest, once you got to the first million, I stopped 1205 01:05:38,880 --> 01:05:40,960 counting. But yeah, it's millions. 1206 01:05:41,000 --> 01:05:44,760 And yeah, but essentially you can cash out as little as Van 1207 01:05:44,760 --> 01:05:50,320 Satoshi, which wasn't possible before with any other types of 1208 01:05:50,320 --> 01:05:53,840 Fiat payment in rewarded games. You know, used to have like a 1209 01:05:54,040 --> 01:05:57,840 PayPal cash apps in some games and that you'd have to get to 1210 01:05:57,840 --> 01:06:01,320 like $5 before you could even withdraw, which would take like 1211 01:06:01,320 --> 01:06:03,640 six months of playing, which no one would do. 1212 01:06:03,800 --> 01:06:06,200 So it was not a very good solution. 1213 01:06:06,520 --> 01:06:09,720 So Bitcoin's great because, well, specifically over the 1214 01:06:09,720 --> 01:06:13,520 learning Network, we can cash out once Toshi at a time, so 1215 01:06:13,520 --> 01:06:16,600 people can literally download the game and within like 15 1216 01:06:16,600 --> 01:06:19,040 minutes win some Bitcoin and then just withdraw it. 1217 01:06:20,360 --> 01:06:24,120 Absolutely I mean dude, that that is awesome get playing 1218 01:06:24,120 --> 01:06:28,120 games. I mean literally getting paid to 1219 01:06:28,120 --> 01:06:31,800 play games like that is incredible. 1220 01:06:31,800 --> 01:06:33,600 That is that is that is really cool. 1221 01:06:33,600 --> 01:06:35,520 Chris, do you have any questions for Jack? 1222 01:06:35,520 --> 01:06:37,360 Well, let's take advantage of him while he's here. 1223 01:06:37,520 --> 01:06:40,080 While he's. Yeah, Jack, I was going to ask. 1224 01:06:40,080 --> 01:06:42,560 So I mean, obviously many Bitcoiners or you know, I'll 1225 01:06:42,560 --> 01:06:44,920 lump myself in with that, have probably heard of Thunder games 1226 01:06:44,920 --> 01:06:47,400 or they're like, oh, that's so cool playing games for earning 1227 01:06:47,400 --> 01:06:49,400 sats. But I'm assuming like the vast 1228 01:06:49,400 --> 01:06:51,240 majority of the people that download your games are just 1229 01:06:51,240 --> 01:06:53,400 casual gamers and they've not really heard about Bitcoin or 1230 01:06:53,400 --> 01:06:55,320 maybe you've heard about Bitcoin but don't know how it works. 1231 01:06:55,480 --> 01:06:58,040 So how's the onboarding or how do you get what's the feedback 1232 01:06:58,040 --> 01:07:00,920 back from people that are may not be quintessential Bitcoiners 1233 01:07:00,920 --> 01:07:04,960 or Bitcoin? Maxis, yeah, I think they love 1234 01:07:04,960 --> 01:07:06,800 it. Is the like we'll start with the 1235 01:07:06,800 --> 01:07:09,760 bottom line up front. They love it it's so easy, 1236 01:07:09,760 --> 01:07:12,040 especially with like the lightning address that does make 1237 01:07:12,040 --> 01:07:16,280 it a lot easier. They just like being able to 1238 01:07:16,280 --> 01:07:21,140 cash out immediately. We have about Desiree my Co 1239 01:07:21,140 --> 01:07:23,920 founder who knows the numbers at the top of her head, but I think 1240 01:07:23,920 --> 01:07:29,960 it's about 80% of users who download our games need don't 1241 01:07:29,960 --> 01:07:32,200 have Bitcoin wallet so they have to download 1. 1242 01:07:32,680 --> 01:07:37,960 So we are on boarding quite a lot of people and it's about 40% 1243 01:07:37,960 --> 01:07:40,800 of those people who download then go on to actually win some 1244 01:07:40,800 --> 01:07:45,400 Satoshi's and cash out. So everyday we're, we have like 1245 01:07:45,400 --> 01:07:48,040 a North Star metric, which is like how many new Bitcoiners 1246 01:07:48,040 --> 01:07:51,040 we've minted. So that was kind of like a 1247 01:07:51,520 --> 01:07:54,520 internal goal is like just give as many people Bitcoin as 1248 01:07:54,520 --> 01:07:56,600 possible. And I did see someone on your 1249 01:07:56,600 --> 01:08:00,880 chat say that thanked me for giving him his first Bitcoin. 1250 01:08:01,320 --> 01:08:09,120 I'm pleased that I saw that. What do you mean someone earned 1251 01:08:09,120 --> 01:08:14,120 a whole Bitcoin? I was like, damn, what game is 1252 01:08:14,120 --> 01:08:16,760 he playing? I'm in the wrong career, bro, 1253 01:08:16,760 --> 01:08:20,399 God damn. But but yeah, no, that's that's 1254 01:08:20,399 --> 01:08:22,080 incredible. That's really awesome guys. 1255 01:08:22,080 --> 01:08:25,560 You can go to Thunder dot GG for audio listeners. 1256 01:08:25,560 --> 01:08:32,240 It's spelled THNDR dot GG to visit Thunder games today. 1257 01:08:32,240 --> 01:08:34,800 You'll see all the different games and the different 1258 01:08:36,760 --> 01:08:39,600 platforms it's for. So some games are for iOS, some 1259 01:08:39,600 --> 01:08:41,840 games are for Android, some games are for both. 1260 01:08:42,399 --> 01:08:46,279 You can check out all the games there and literally get played 1261 01:08:46,279 --> 01:08:49,680 in Bitcoin to play games. It's an actual thing. 1262 01:08:49,680 --> 01:08:51,359 It's real. It's really, really cool. 1263 01:08:51,680 --> 01:08:55,359 So go check out Thunder games today and I want to thank I want 1264 01:08:55,359 --> 01:08:57,319 to thank everyone for tuning in today. 1265 01:08:57,479 --> 01:09:00,640 Almost 3000 live viewers across all platforms. 1266 01:09:00,640 --> 01:09:04,040 You reach 320 likes on YouTube alone. 1267 01:09:04,160 --> 01:09:06,640 We appreciate you all. Thank you guys so much for 1268 01:09:06,640 --> 01:09:09,800 tuning in. This is January 22nd, 2024. 1269 01:09:09,800 --> 01:09:13,160 I'm your host Nico Moran. It's my legendary Co host Chris 1270 01:09:13,160 --> 01:09:18,600 Alamo and our special guest for today, Jack from Thunder games. 1271 01:09:18,680 --> 01:09:25,120 Again, go visit Thunder games at THNDR dot DG Thunder dot GG. 1272 01:09:25,200 --> 01:09:26,720 Alright everybody smash the like button. 1273 01:09:26,720 --> 01:09:29,399 If you guys enjoyed the show, we will see you tomorrow for a 1274 01:09:29,399 --> 01:09:32,720 brand new episode of Simply Bitcoin Live. 1275 01:09:33,279 --> 01:09:36,640 Today's episode was brought to you by bitcoinwell.com, a 1276 01:09:36,640 --> 01:09:39,800 Bitcoin only platform on a mission to enable financial 1277 01:09:39,800 --> 01:09:40,600 independence.