Yo welcome to another episode of Simply Bitcoin live.
Your number one source for the peaceful Bitcoin Revolution
code. Breaking news culture medic
Warfare. We will be your guide through
the separation of money and state Michael sailor Vindicated
hee hee they just had their quarterly report to see if
they're profitable how they were doing and it blew everybody out
of the water in terms of expectations, right?
And a key point to that was the Bitcoin strategy microstrategy
has so much Bitcoin that at this point.
It's behaving like a Bitcoin ETF.
Now for the you know the during the the depths of the latest
bear Market where we hit you know 15 16 K right A lot of
people were questioning is strategy not only Michael sailor
but they are also questioning name bouquet Lee and I'm
buchelli strategy as well. Well now that I think we're
going toward we're getting out of the, you know, supposedly
maybe we're out of the worst part and we are if Bitcoin is
still following its historical Cycles we're beginning and this
is dr. Jeff Ross said this yesterday we
are in the very beginnings of the next bull market, right?
But the first year of the next of the first of the beginning of
the bull markets are always kind of slow, right?
So I think Over the next three years microstrategy's
microstrategy's Bitcoin strategy is going to continue to be
Vindicated and I think just because of Market forces that's
going to get other questions that that's going to get other
companies. Other public companies to start
looking into Bitcoin and perhaps say, maybe it's not a bad idea
to put this on our treasury. So very, very exciting stuff.
Also breaking news from the White House, we're not going to
In depth into it today. It's become very clear.
The B Administration does not like Bitcoin, okay?
In the presidential economic report which they release on a
yearly basis, it was released either a couple weeks ago or a
month ago. They dedicated an entire segment
like 20 pages of that report making the case as to why
Central Banking is necessary. Why Central Bank digital
currencies are the future and bashing Bitcoin at the same
time, right? That was really the first time
that they took a direct. Jab.
Well, now the second time happened in that was yesterday,
they made an announcement that they proposed, a 30 percent tax
on all Bitcoin proof-of-work. The majority of which is
Bitcoin, of course, 30 percent tax on proof-of-work mining in
the United States, which would basically kill the industry.
Would it make it profitable, right?
And I think that's what they want, right?
And then tie the tie that up with operation choke point 2.0
And there you go, right? So very interesting stuff, but
before we start the show, I want to bring up my legendary
co-host. Always optimistic how you doing
Opti? How you feeling this morning?
Well, I got some much-needed rest last night.
I think I was in bed by like 8:30, right.
As this whole news broke last night and I had to, I had to do
not disturb my phone, so I can get some sleep.
But man, as I was passing out last night Nika, you're going
ham on Twitter. I was I was pretty pissed off.
I was kind of livid about it. Is it really just makes you
wonder what what country we live in and but we'll save that for
tomorrow and you know, shouts out to sailor apparently.
He seems to be the only one making smart moves out here in
regards to holding Bitcoin on their balance sheet.
But anyways on today's culture we got a Heinrich from Ellen
Capital so we're going to talk about all things Island.
Capital talk about what he's building, what he's working on.
So let's just bring them in. What's up, Henry?
How you doing today? Hi-ho good.
Are you wonderful, bro? Wonderful happy to have.
You happy to have you on the show?
What are we going to talk about during the culture segment Opti?
I just said it, bro. We're talking about what Henry's
working on Ellen Capital 27? Well is Ellen Capital, think
service providers lightning service provider.
All right, we got to build on that second layer.
All right, everybody, let's let's start the show.
Let's get into the numbers. Let's do this.
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I want to tell you about the biggest Bitcoin conference on
the Face of the Earth, it's literally coming up in less than
a month. Miami Beach Florida May 18th
through the 20th Bitcoin 2023. It's how many days is that Opti?
Like 15 days you can use the promo code simply to get a 10%
discount on your tickets. You definitely don't want to
miss this. We call it.
The pill, the pilgrimage, this is the Bitcoin Super Bowl week.
Only happens once a year, you definitely don't want to miss
it. Let's go through some of the
speakers we have. Michael Lewis, he's the author
of The Big Short Moneyball. We have Michael say, Arthur Hays
Tulsi gabbard Alex gladstein, Eric Weinstein, Adam back, Jack
Mahler, Stacy Herbert, the Bitcoin, Senator Senator Cynthia
lummis. Patrick McHenry, he's a
congress, he's a congressman in the US House of Representatives,
we have a member of government from the country of Indonesia,
273 million people and he's doing a fireside chat with
Samson Mao, who is dedicating his life right now to nation
state. Adoptions.
I'm very curious to hear what that announcement is.
And of course you have linoleic. Alden and many, many more
speakers Opti and I are going to be holding it down on the
analyst desk as well. You definitely don't want to
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The Bitcoin. Price is 20 8320 SATs per dollar
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hundred and eight reachable. Bitcoin node seventeen thousand
ninety six blocks to having 50. 1892 having estimate April 22nd
2024 total lightning Capacity is 5413 Bitcoin.
We want that number to go up Hendrix here.
I want to, I want to ask him about that and the capacity
values, 153 million, u.s. dollars realized monetary
inflation Bitcoin continues to take Fiat currencies to Absolute
school. That number is going to keep
going down, 1.75 percent and the market capitalization of Bitcoin
548 billion dollars with Abby. Anyways, I want to talk about
the breaking news that happened yesterday.
But first, I want to give a little bit of Tax because this
this should not have caught anyone by surprise specially.
If you guys have been tuning in to Simply Bitcoin, this has been
a developing story for quite a while now.
Right. It started with the Rumblings
right? That we actually picked it up on
simply Bitcoin, but I think Nick Carter were two great pre a
great piece that really laid out the multiple moves that the B
Administration made in the hopes of isolating the industry, but
they escalated it right. Those Kind of I wouldn't call
them shadow moves but they were moves that they weren't also
acknowledging. They're saying no we're not
doing that. You're crazy.
What are you talking about? But really in the last two
months, they've gone out and made their position, very clear.
The first thing that they did was the, the the report that was
released, here's a coin. Des article that talks about it
for a little bit just to provide context before we play you guys
a video. It says the B Administration
took aim at Bitcoin and shit coins.
And a new report arguing that many aspects of the digital
asset ecosystem, are creating issues for consumers, the
financial system. And the environment, the quote
economic report of the president published on Monday.
And the, the date of this article is March 21st is an
annual publication by the Council of economic, advisers
aimed at explaining the president's economic priorities
and principles. The March 20 23 issue included
an entire chapter on Assets and quote economic principles and
what were those economic principles, those economic
principles in the in the eyes of the current Administration is
the necessity of Central Banking and the necessity of Central
Bank. Digital currencies.
Well, it escalated even more and this is what came out.
This is what came out yesterday. We're going to spend tomorrow's
episode completely on this B administered.
By an Administration proposes, a 30% climate change tax.
On cryptocurrency mining. Why is that tax not applied on
lithium mining or on gold mining?
Why is it specifically on Bitcoin?
Mining will connect the dots If people have an ability to choose
between Bitcoin and a central bank, digital currency, what do
you think they're going to choose?
Well, obviously they're gonna go and they're going to choose the,
the currency the unit of account that has better incentives.
Now, the good news though, is that, you know, the awesome part
about the u.s. Opti and I are not quite at,
okay, we're getting out of there.
Moving to El Salvador, still in the holding it down phase.
But the awesome part about the u.s. is the Individual
sovereignty of the states, right?
So, clearly, the federal government is taking a specific
sense, Pro Central Bank, digital currency.
Now, the good news is though that individual states are
taking an anti Central Bank, digital currency stands, and
they're actually taking a pro. I hate Pro crypto, but all we're
all roads lead to bitcoin, right?
The cryptos are inherently centralized.
Meaning that they will inevitably be co-opted by
government. You have to have something that
is truly. Centralized.
The only one, which is Bitcoin right now.
You had that Announcement by Biden and around the same time
you had Governor Ron DeSantis of Florida and he had some thoughts
on Central Bank, digital currencies.
Let's take a let's take a listen The danger of the digital
currency is that one. They want to make that the sole
currency. They want to get rid of crypto,
which my view is, is like if you want to invest in crypto, it's
up to you. You can do it.
I mean, like, you can make those decisions, but they don't like
crypto because they can't control crypto.
So, they want to put everything in a central bank, digital
currency. And I guarantee you, if they're
able to ever get away with that, they will impose ESG and social
credit scores on to that And that's going to be a huge
reduction in Freedom for people in this country.
And so what we've said we're going to say in Florida is
there. They haven't done it yet.
I don't think Congress would authorize it but if the fed or
the treasury tries to do, it unilaterally in Florida, will
have a Prohibition against that. And I think that that's ensuring
your financial Independence and making sure that we don't have a
financial surveillance state where they know every
transaction that that you're making.
I think that That's fundamentally wrong.
So we are recognizing the dangers with this agenda.
That wasn't a Bitcoin or saying that, that wasn't simply Bitcoin
saying that that was the governor of a very big state
saying the quiet part out loud. They want, they hate Bitcoin and
should coins because they can't control them.
And they want people using a money of which they can control.
And not to mention, he said the quiet part out loud, he just
went straight into the social credit system, which is a theory
that we've been saying this for years.
Now, at this point, but I'm glad that it's being brought up to
this level. So, I think even with Biden
taking this stance using every excuse possible.
The environment, right? Remember the New York Times
article, what did they use? They use the environment.
Excuse? Right.
We must we must ban this because the environment.
Another question that I have is like, okay.
So what about electric cars? They use electricity to our
Bitcoin toasters. So known as Asics they don't
emit CO2 directly. So, you know, so you have a
problem with how people use electricity in the first place.
Like that, is the real issue here and we're going to get to
in tomorrow's episode is where they taking this inspiration
from. And that is very, very
interesting. But anyways, I want to get your
thoughts Opti Opti. I think we called it at this
point. We nailed it, bro.
We said it. We said it and we can't be
labeled conspiracy conspiracy theorist at this point.
If you have the governor of a state saying, well, we've been
saying for the last basically year and a half, you know, but
the majority of the show's existence, really.
So, what are your thoughts on this brother?
Well, I mean, I have you over here and this is just a summit
against Bitcoin, you're against freedom, and the more, the more,
you know, I've said in the past, the more a government Is to
Outlaw Bitcoin, the more bullish that I get and it really is a
shame that the u.s. government is being so Aunty Bitcoin from
the top down level. But I mean like you said, you
know, if you're against Bitcoin you're against Freedom like why
are we being forced to use a money that steals from us?
Why is this the norm especially in the face of all the bank
failures? The very next day, we are seeing
them roll this out, like taxing on Bitcoin mining.
Like what the hell is going on? Like this is not by accident.
I've been saying it for a while. You know we definitely were
having the naive take of like oh maybe they're just uneducated,
they don't know what they're talking about, but I think in
the face of all of this I would just say it is pure evil.
This is this is a pure ploy to control human behavior.
And you know, why is the federal government picking winners and
losers? Why are they telling us what we
can and can't use our electricity for like I thought
this was the land of the Brave and home of the free.
Like, what is going on here? This is Lee insanity and this
climate change, coal is just an excuse, like, it has nothing to
do with saving Humanity, saving planet Earth.
It's just a pure ploy to control people's behaviors, and it
absolutely pissed me off yesterday.
When I, when I heard all this stuff and I think it's just you
know, foreshadowing where we are going.
And again I know we said it's not we can't be conspiratorial
at this point but I am going to put on my tinfoil hat right now.
Now because it feels like controlled demolition.
Like, it feels like everything is happening in a way to push us
to see bdcs and stop the Escape valve which is Bitcoin like
Bitcoin is as American as apple pie Bitcoin should be endorsed
in America because aren't we, a land of freedom of letting
humans act towards their best interests.
And now we have the federal government telling us like oh
you know profitable businesses we're going to tax you more oh
businesses that are helping rural communities.
Oh we Allow this to happen anymore because of the very
thing that Ron descent is always says now is the reason they
don't like big quantity because they can't control it.
And I mean I I'm not I'm not the biggest fan of politicians.
You guys know this and I'm a bit suspect of Ron DeSantis first
and foremost, but he's saying what we say all the time it is
angling towards pushing the u.s. population towards a CBC.
And I think it's upon us to continue to call this BS out to
continue to get people to hold bit.
Coin to get Bitcoin into their hands because this is the only
way we can really stop. This is having more people hold
Bitcoin and ensuring that they understand what is going on.
Because hey, the writing on the wall, they want to control
everything about us and this is absolutely sickening, especially
as someone that's been sold on the idea of America being the
land of the free, you know, I remember what our founding
fathers fought for and it was a lot less tax and 30%.
Like I think it was what like three percent on T itself and
now they're trying to tax everything about, it's like,
it's absolutely mind-blowing. But hey, we'll go into this
tomorrow. Let's let's get Hendrix view on
this stuff. Hit load of this is as politics
in the US on? Yeah, being from Norway.
We have a quite a different sort of political system in general.
And I mean, entire country is probably much more on the left
side than anything that's As far left in the US, the reason, I
think, I mean, it's just a completely different system.
And I mean, different economy around that.
So that the level of corruption, for example, is very, very low.
So, I mean, it's yeah. I see the problem where they
start adding these taxes and all these types of regulations
without even, like, really understanding the problem.
So me, Yeah, it is problematic the entire thing.
But at the same time, like it's hard for me to comment really
in-depth on on the u.s. politics and that's because I'm not like
I'm watching all this from the outside right now.
Of course, but Heinrich, what about in Norway or is there an
initiative by the government to push Central Bank, digital
currencies? Because this is a global
phenomenon. This isn't just something
isolated to the US. Yeah, definitely.
So they are working on it and we will probably see it, not sure.
When at least a few years, but yeah, there's been a lot of
different movements. We had like, a few years back.
We had a proposed ban on northbound, but they won't
remove the electricity incentive given to all sort of data
centers, etc for running, yeah, data center with the without the
industrial, without the tax, that we normal people get and
that actually just got completely The throw them out
once there was so little water in completely and Anonymous,
actually the entire yeah everybody would.
Yes. And when it got to be
implemented, actually followed fell apart because they realize
it was basically impossible to implement in a fair manner.
So it's for example, if the remaining using 3D cards graphic
processor, instead of a 6 would it would be hard to actually
detect so it goes thrown out so there's been a lot of silly
attempts at basically It goes back to the not understanding
how this works. Yeah, yeah, exactly.
So is it, is there any pushback was there any pushback when they
try to? Because it seems very similar to
the tactics that they use in the US right where they try to D.
Basically D, incentivize the the mining of Bitcoin.
Yeah. I mean there were some respects
but at the same time the industry at that point wasn't
that big. So it was limited what they
could do. But yeah it's I mean I guess
we're a bit too. Fortunate are Norway and we
don't have the same necessarily rising up and yeah standing up
for against that and Being a hunter, gotcha.
Alright everybody, let's get to the news.
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All right, everybody go before you go on.
Before you go on, shout out to everyone showing us love on
their. I responded to all you guys.
This morning. Really means a lot.
I'm glad you guys enjoy what we're doing.
It just felt felt good Nikka. One of my heart this morning, I
finally went through, all my, all my DM, love you guys.
Yeah, it's a same to same to me. I try to, I try to respond to
each one of you guys when I see it.
And we really, really appreciate The love and the support.
And I hope to see a lot of you guys in Miami really looking
forward to that as well. Anyways, everybody, let's talk
about Michael Sailors Vindication because that's
really what it is. It's a Vindication.
So I mean it's self-explanatory, says Michael sailor.
Since microstrategy adopted, a Bitcoin strategy for audio?
Listeners is as microstrategy out performed out performance
since adoption of Bitcoin strategy and it's a comparison,
right? So it's microstrategy's up a
hundred and sixty-six percent. And this is compared to than the
S&P 500, which is only up 24%. This is up to the NASDAQ, which
is only up 11% compared to gold, which is down two percent
compared to Silver, which is down 11% compared to bonds.
It's Dad's down, sixteen percent.
What about the Fang stocks? Right at?
What about the tech stocks? Well, microstrategy's up a
hundred and sixty-six percent compared to apple, which is only
up 51 percent compared to micro Microsoft, which is only up 48
percent. To Google, which is only up. 45%
metas down, 9%, Netflix is down. 32% Amazon is down 33 percent.
Also, Oracle oracle's killing it up 72 percent, but it's still
less than microstrategy's a hundred and sixty-six percent.
And this is the power, and this is, I think what, Michael
Sailors the point that he's trying to make is the power of
adding Bitcoin to your treasury, right?
And I think over time I'm what you're going to see because I'm
looking at these numbers, right? And it reminds me of a very of
one of my favorite websites which is priced in Bitcoin,
right? And it kind of tells the same
story, right? Price and Bitcoin over a six
over a three year period, the dollar is down 68 percent over a
five year, period, it's down 65 percent, right?
And The Story Goes On, The my SMP is down, 54 percent, medium
house and housing prices. At least in Florida have gone up
like Percent or like 100%. And the last 23 years alone
really since they started you know, printing money like crazy
Bitcoin, it's house is still 51 percent cheaper.
If you've been operating on a Bitcoin standard, right is very
similar, it's interesting how it's kind of similar I think
over time just like then, mama venmo just like PayPal, just
like not cash app but Robin Hood was forced to add the Capability
of people to withdraw from their platform.
They were forced to do that because of Market forces, I
think the market forces are going to force, other companies
to really, take a serious look at Bitcoin as being, a something
great to have on their Treasury. And I think, you know, these are
public companies, so they adhere to their shareholders.
So whatever type of ideological beliefs that they have against
Bitcoin that goes out the window, right?
They have to perform and if microstrategy is Outperforming
this much because they took on a Bitcoin strategy is going to be
very difficult for other companies to ignore that, right?
And here is a, the Bloomberg article that was talking about
this as microstrategy post profit on benefit tied to
bitcoin stash. It goes on to say microstrategy
the enterprise software maker better known as the largest
public holder of Bitcoin. Posted its first profit and 9/4
ever registering a tax benefit related to its hoard of the of
the cryptocurrency, the Tysons Corner Virginia based.
Company controlled controlled by Bitcoin Advocate.
Michael sailor, had net income of 4461 million dollars compared
with the loss a year earlier. During the recent quarter, the
72 percent rise in the price of Bitcoin allowed microstrategy to
basically reduce a reserve related to earlier.
Large impairment charges for the cryptocurrency resulting in a
one-time tax benefit of 453 million dollars revenue from the
software business Rose. Two-point-two percent to 121.
In dollars beating the 119 million dollar estimate that
analysts surveyed by Bloomberg expected.
The company took an impairment charge on the digital asset of
18.9 million for the three months.
Ended in March 31st, sailor began buying Bitcoin in 2020 to
reduce the company's Holdings of cash.
Before the before of the eroding threat of inflation, by the end
of March microstrategy held a total cache of 140,000 Bitcoin.
According to his Initials the company spent around 179 million
dollars to add seven 7500, Bitcoin in the quarter.
And here is a video of Michael sailor being interviewed on, CNN
NBC. And they had some questions
about that. Let's check it out and then
we'll talk about it. So let's talk a little bit about
earnings because in your core software business software,
licenses Revenue climb 23% subscription Services Revenue,
46 percent, but really the focus from the market as per usual,
since microstrategy is the largest publicly traded holder
of Bitcoin. Is the fact that your impairment
loss for Bitcoin was so much smaller than it has been in
recent quarters, walk me through the results and the flywheel
between these two companies within the company.
Sure. We have progressively built up a
Bitcoin position up to 140,000 Bitcoin, over the past two and a
half years, when Bitcoin traded from six to six thousand, all
the way down to 16,000. We took an impairment loss and
in the course of the last 12 weeks that Bitcoin position has
traded up to billion dollars in fair market value.
So, of course, when it's trading down, there are tax consequences
and indefinite tangible write-offs.
But when it straight, Ting up, we get we reverse some of the
tax accounting. Indefinite an intangible
treatment hasn't changed any but I think the short of it is the
software business is very stable and it's a cash cow and we use
it to pay our interest on our debt and to acquire more
Bitcoin. And the Bitcoin itself is is our
belief that Bitcoin is the ultimate Digital scarcity
Network. And because Bitcoin has been
moving up about fifty percent a year on Average over the last
three years, the real key with Bitcoin is just to be able to
hold onto it and stomach the volatility and we have
conditioned our shareholders, and our bond holders to
understand that where long-term hot Oilers.
And because everybody is aligned in that interest, we're able to
weather that volatility and wind up doing very, very well as
Bitcoin recovers. Yeah.
And Bitcoin is recovering know, we're still well off the
all-time highs. We're up something like 70%
since it started here. What do you attribute that
recovery to I think right now there are two twin drivers right
there. There's the macroeconomic
concerned about inflation and as and as inflation takes place
lead people lose confidence, in Fiat currencies.
And that means they start to realize that everything valued
on cash flows is a currency derivative and Bitcoin is not
valued on cash flows, it's in a digital scarcity, the failure of
the bank's Silver Gate Bank, Signature Bank Silicon Valley
Bank. Not First Republic Bank causes
people in the Western World to start to lose a little bit of
faith in the banking system and they remember that Bitcoin is a
bank in cyberspace run by Incorruptible software.
So the phrase be your on bank has emerged as an investment
idea in the United States. But it's really a matter of
financial survival elsewhere. And so the combination of that
of that Concern about inflation and counterparty risk with banks
is driving Bitcoins adoption. It's also being driven by the
way, by the crypto Crackdown and as people lose faith in crypto
exchanges, crypto Securities and cryptocurrencies.
There's a natural migration of capital from those crypto
ecosystems and to bitcoin since it's viewed as the risk of
safe-haven asset of the cryptos. So let's talk about that, right?
This idea. That be your own bank is
penetrating into mainstream Consciousness on yesterday's
episode. We dedicated it to Tim pool,
right? And how temples said the quiet
part out loud, he's like I'm watching all these Banks fail
and F this. I'm going to get myself some
Bitcoin and I think Michael sailor, hit the nail on the
head. I think we're finally seeing,
you know, the the benefits of Bitcoin.
The idea that you could theoretically store millions
billions if not trillions of dollars just by Thing down and
12 to 24 words, seed phrase, you know, completely changes.
Dynamic, you don't have counterparty risk.
You don't have o. The this bank is going to rug.
Pull me, are you? No.
Are they liquid? Holy cows is, is Janet Yellen
going to bail out? This bank is my deposit.
Okay? You don't have to deal with any
of that, right? All you have to do is take a
little bit of personal responsibility and take self
custody. And this image is so powerful.
Yours First Republic Bank, it was Janet Yellen with the
famous. You know, you guys all remember
the Buy, Coin side, it says, be your own bank.
This is top-of-the-line, the medic Warfare.
And, you know, it's finally seeping into the paint
mainstream Consciousness for the average everyday individual, on
the Tim pool type of level in the mainstream, you know,
podcast type of circuit but also on the public company realm as
well. So I don't know, man.
This is a, this is very, very bullish and I can't wait for the
next cycle. When on a, on a on an individual
level on the mainstream Consciousness, people like Tim
pool saying Bitcoin more and more and more.
I think it's going to be talked about and other mainstream shows
as well. We've had Jordan Pederson, bring
on bitcoiners. A reason I bring up Jordan
Pederson. I know a lot of people dislike
them because you know, whether you like them or not, he is
extremely popular on the internet, right?
And you're starting to hear those conversations brought up
more and more and more Bitcoin Bitcoin maybe and then that
Notably will lead to a very important question, why are we
being forced to use money that that steals from us?
Why are we being forced to use money?
That loses purchasing power over time?
When we now have an alternative where I'd actually increases in
purchasing power over time, Michael Sailors, proving that
clearly on the public company level 9 buchelli is proving that
on the nation state level. And I think, and during the next
cycle heading into the next, having it is going to become
Abel. And there's no amount of
propaganda, misrepresentation spin that they're going to be
able to throw at this thing. And people are just gonna be,
like, you've been lying to me for, like two or three years.
What are you talking about? No enough is enough.
I'm going to opt out. I'm gonna take my wealth, my
energy, my time. I'm gonna take it out of the
system. I'm gonna put it into my
custody, but but big, but if you guys are not properly, securing
your generational wealth and you're storing your Bitcoin seed
on paper. That's just very, very dangerous
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Anyways, I want to bring up our want to bring up my co-host and
our guests what do you I am I seeing things.
I'm gonna pass it on to to our guests first Heinrich.
Am I seeing things? What's your take on?
Michael sailor, I saw you smile a little bit when when we were
playing the video. Yeah, I mean, what are the
comments like that? Winning.
Mi. And I mean it was like the
difference between like the around Christmas and now it's
just like he's proven right in a way.
So yeah really great comment. I mean I mean, it's it's just as
I said, like it's becoming like an ETF for Bitcoin.
And I think as a sort of next Bull cycle approaches and start
taking off, I think there's a lot of people who's going to
need some education, really fast to figure out what's actually
happening and how this technology actually works and,
and going to learn like, why someone like Michael sailor,
bought that much going on his strategy.
Because right now, I think it's a lot of people just feels like,
it's completely insane. But yeah, yeah, I was going to
change it after you. What's your take on this?
Well, it is insane, man. He's got the biggest bag ever.
Like, what is going on here? But anyways, back to the point.
I mean, I thought sailor and micro strategies is going
bankrupt. Guys, like what's going on here?
You know, it's almost like the mainstream media is just
continuously lying and fighting Bitcoin.
But hey, what if we're wrong? On bro, like, get it so wrong.
Like, at this point, like, like at this point, like, how could
you take them seriously? At this point, like they get,
dude, the the never forget this El, Salvador Bitcoin, legal
tender, a threat to financial stability.
Argentina. Here's a bailout, but you must
be intensifies. The adoption of Bitcoin fast
forward a year later, 104 percent inflation, you can't
trip. You can't say and and be sincere
and be honest. And say at this point like these
people are are are are Interested in telling the truth.
Like you can't say that and you can't say that's a conspiracy
theory either like it's just become.
So apparent that, you know, the Legacy corporate media machine
are really, it's really a mechanism of controlling the
narrative. You heard Tucker say it as well,
it's not just me saying this, right?
So yeah, man, but you know, I think Freedom wins.
I think Bitcoins incentives are going to are going to rule the
day and I think that they don't have anything.
They don't have anything that can match Bitcoins incentives
and I think that's Why they will fundamentally lose at the end of
the day Opti. Yeah, man. 100%.
I mean, what do we always say here?
And you said it, you said it a minute ago and we say it
probably every single day. But sailor will be Vindicated on
the corporate level buchelli will be Vindicated on the nation
state level and all you guys out there will be Vindicated on the
individual level. This next Bull Run.
It's only a matter of time until the world wakes up to what we
are doing here as bitcoiners. Like Heinrich said, you know
it's type of absolutely amazing that people still think we're
The Crazy Ones. You have, you know, been calling
this for years now, we see the writing on the wall and I don't
know, most of my Bitcoin friends have been right and they
continue to live a prosperous life and it's just it's only a
matter of time until the biggest corporations and nation states
in the world realize, and wake up to the idea that they're
holding melting ice, cubes as sailor says on their balance
sheet and once they start adopting Bitcoin man gradually
then suddenly it's going to be a beautiful beautiful.
Beautiful day. But on another point, there was
a lot of Bitcoin signal in in that little, that little clip of
Sailor. And it's something we
continuously talk about here on the show is that the Bitcoin
signal, just continuously starts to seep out into the corporate
press and we like to just keep it as simple as possible, guys.
You need to be holding Bitcoin, just hot all them Bitcoins and
you'll be good do not get scammed out of your Bitcoin
ride. The volatility, the roller
coaster ride is fun. Take Bitcoin into Cold Storage.
This is the way and you will live a better life.
It's as simple as this. It's happened to me.
I've seen it happen to all my friends, we're seeing it play
out on corporate level nation state level.
This is the signal, guys. You just need to hold some
Bitcoin you. It doesn't matter how much you
hold. You just need to get off the
zero fee are the zero Bitcoin. Mark like you just need to have
some Bitcoin just in case just in case of catches on.
Absolutely. Amen to that.
All right everybody, let's get to the culture.
Let's do this. The daily culture brought to you
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questions, or concerns. Anyways Opti, what are we
talking about today? My friend, let's go.
Well, you know what I like to do, guys?
I like to highlight what our guests are doing, what they're
working on and we got henrique CEO of Ellen, Capital lightning
service providers. So I think first and foremost, I
am kind of trolling on this first question Henry, because I
do this to all my lightning friends.
I thought lightning would vaporware, what is going on?
Well, Lightning scale Bitcoin, definitely, definitely.
And also, to scale it, we need to scale lightning.
So companies needs to be able to use this and professional
industrial sense. That's what we're doing.
Perfect, love it. So what is torque?
What are you working on on? Ellen Capital, what is your your
company's Mission? Yeah.
So we're actually building the tools that large note.
Operators need, so LSPs exchanges.
Yeah. All kinds of large shops for
example as well. So it is a tool that's meant for
professionals. It is nothing like it's not
something you install on your own Braille just to run your own
node. If you're running a routing
node, that's a different story that's actually where we started
as well. But we're transferring now or
shifting out more into the post PLS P sort of services.
So as you can see here as well we're supporting multiple node.
For example, which is also something that's really been.
Official to these companies because they're for Dunn's is
purposes. They're of course running
multiple nodes. Love it.
So maybe for the, the people out there.
What exactly is a lightning service provider?
Yeah, so the definition is, well, the first definition of it
is. Somebody who provides liquidity
on the bond. Mostly it's non-custodial.
So if you have a lightning node and your shop, for example, you
need to receive Bitcoin. They can essentially open a
channel on the mound when you need it.
And Receive that payment directly to yourself.
You can also use that for example, in will look like
breeze as well or a different roles using this love it.
So you said it's for professional lightning node
operators and I do have your little trailer right here as
well. So what do you mean by
professionals? This people like running stores.
Exchanges wallets. Who is this?
Angled towards who is your ideal customer?
Yeah, so yeah. Changes LP.
So companies and people working in companies maintaining the
nodes. So typically if they have like a
million dollars is something on the Node and they have maybe a
thousand channels then it becomes like it changes a bit.
It's not like you're looking through individual channels and
Madam, you need to look at groups of channels.
Types of channels. You need automation system that
can handle certain events happening to travels at rapid
speed. So we're building this This tool
to so give to save these companies from building a lot of
these sort of makeshift tools themselves.
Yeah. It's for the people working in
these organizations. Love it and a little Easter egg
in this video. I saw one of the one of the
lightning note. Operators was named cracking its
cracking using torque or just just good marketing actually, we
don't know. So that the video shows the
different channels that actually my no doubt, okay, okay, okay, I
awesome. Okay, next thing that I kind of
want to talk about is we're very big on trying to educate all of
our friends out there. You know, we do our best but I
think you guys are doing a great job on your Twitter account.
I really enjoyed these threads that you guys pulled out and I
did pull about a couple of them. So I think just adding in to
what we're talking about, this one right here, lightning will
eventually scaled, a billions of users but not without the help
of lightning service providers. And this is the mission.
So again, back to the original question.
Well, lightning scale Bitcoin. Definitely, definitely.
And I mean this red as well as about the fact that like, most
people won't necessarily want to deal with all the complexity of
lightning and there's more and more tools old time making that
simpler. So else peace great, sort of
service that I think, will grow massively in the next few years.
So we want to make people a bit more aware of this and Explain a
bit on what it is and yeah, and the reason of course is that we
build. Also the tools that I was P
needs for this but yeah, if you're interested in, what's
happening, like the industry and and how different concepts work
or you want to work in Industry than what we try to do with
these threads, is to take one Topic at a time and dive into it
and explaining in a way that is easy to Stand.
Without going too deep into the technical stuff, but at the same
time, not being too shallow. Absolutely love it.
So, you know how about just like
a tldr? What is the current state of
lightning and what are you most bullish on in the lightning
space right now? I mean the the space is just
absolutely exploding with new new technology, new protocol
additions and like third-party protocols as well.
I think Lisa said it on the conference recently would like
it. There is a Cambrian explosion in
companies and like, taking lightning popping up.
It's hard to say, what some of the coolest new thing is, I
mean, from our perspectives, by using his very cool new
possibilities that Taproot is bringing to the table and
lightning. I just think that just like was
year ago that the difference a year ago and now in terms of
Tooling, in terms of new technology, Etc is just massive
shift. And I think a year in the, into
the future, it's again, it's just going to be insane to us
how how much has happened, and how simple it is now versus your
into the future. Love it, okay?
I always, I always do my best To push our viewers into my
favorite wallets. What is your favorite lightning
while it currently? I mean actually I just used
torque because I'm okay. Yeah.
Well to Satoshi actually for the whole games of my home, my
phone. Okay.
So no distinction between custodial lightning wallets and
non-custodial, do you? I kind of I hey I know there's a
lot of contention out there on Twitter but for, you know,
pocket change. I think, I think a custodial
wallet. Lightning wallet is is all good
by my, by my regards. What's your thoughts on this?
I mean, there's pros and cons, like, I think we'll see.
With the increase in, I was beast on the semi custodial or
non-custodial Alternatives become easier and easier to use,
as I think it is, sort of a convenience trade-off and some
countries. Some people don't need sort of
fully non-custodial. What we truly need is still turn
to need that, very easy, step to jump into alternative when you
really need to or if you want to.
So yeah, both is fine. But of course, better with the
non-custodial. Love it.
Agreed. Okay, I like this that I found
this thread here and hopefully you can tldr this thread for the
people out there. We've heard very, very recently
Taproot Taproot has been getting a lot of contention, just not in
the way that you guys laid out in this thread.
In regards to you know what it opened up in the possibilities.
That maybe the unintended possibilities and consequences
of the Taproot upgrade that we've seen recently, but I
really like to stir that you put I hear what Taproot unlock for
Bitcoin privacy. So maybe we can get back to
some, some benefits of Taproot and and scared away from the
whole contention going on on Twitter.
Yeah, it's it's actually Jack on our team is riding these, so he
should be here next, day's more it.
But yeah, it's again, back to the two different tools on the,
the Privacy are tools that are becoming better and what are the
important things are One of the things I think is really
important is that we need to build privacy into the protocol
and the supporting protocols around there.
Because we have the opportunity Now, to create all these
protocols, I think it becomes harder and harder as the
industry growth grows and there isn't really like once people
are starting to use company, specific tools that aren't
private or we start to build in non-private features into into
lightning, it's harder and harder to read.
Verse that process and to get pricey back so that combined
with sort of the company's interest to make something
convenient which often than is a trade-off to privacy again it's
just we need that those protocol developers and the interest in
Industry to make this private by default.
Absolutely love it. I couldn't agree more.
Well what else is Ellen Capital working on, or what else would
you like to end this segment with maybe leave believe the
people. With some wisdom.
Yeah, I mean in terms of wisdom I mean if you're interested in
Bitcoin as or lightning, especially want to work in the
industry just start a small note perhaps a note on drug test or
something like that and just play around with it because you
learn a Tom by doing that. There's a lot of Simple
Solutions to get started with that.
So I mean, I think again the complexity in the tools are
growing every day so So if you grow with that technology it's
much easier to get into it and if you start three years down
the line, I want to jump into the industry out of time.
We're just there's so many terms and sort of syntax and like how
people speak about this is just speeding up and getting more and
more complex. So, jump in essentially, I
couldn't agree more. What Cylon Capital?
What do you guys got in the work?
Are you guys just fully focused on torque or you guys going to
roll out some new products as well soon?
Right now we just fully focused on tort so it's Yeah, it's just
new features. Absolutely love it.
Alright.
Well, hey, man, I can't wait to see what you guys do more in the
future. I can't wait to, you know, make
sure that lightning is as easy as possible because I remember I
tried to get on Lightning and, like, 2018, I wasn't smart
enough to, to like the command was rough.
It was rough and the Improvement that I've seen in the amount of
building that I've seen on lightning in the past couple of
years, it really does. Is make me bullish on lightning
on scaling Bitcoin, but it's actually hilarious.
How many shit Corners still end up in rdms and and comment on
our show. It's like lightning is
vaporware, bro. Like it's not going to scale
Bitcoin. And you're like, have you even
used it because if you did, you would know that your shit coin
is Dead on Arrival. But hey we're just, you know,
toxic Bitcoin Maxis and we got her, we got our blinders on but
hey lightning simpler. Yeah I know it was actually the
First time I set up a node and so using in read about it and I
was like, yeah January 2019. I was like my mind just like
like there was no competition anymore it's like this actually
truly works even at that point for me was like still so
rudimentary. And now today's just yeah, it's
insane. Absolutely, couldn't agree more.
It, blows my mind still to this day using lightning and just
seeing how far it comes. But like the thing that gets me
the most worked up. Is the fact that all the shit
Corners out there? Still think they have some kind
of relevancy when we're just like guys Bitcoin fixes this.
So I can't lightning fixes are so we don't need your shit coin
narrative to do what we're doing on bitcoin.
But, you know, kudos to you for building this.
And shout out to the team. I hope to see you guys succeed
and also to, you know, blow up lightning even more than it
already has. So, I mean, excited for the
future and it's 100% necessary. We need the second layer being
built. That's 100% 100% sure about that
and I'm glad that you guys are contributing to that and pushing
forward, you know, this this Bitcoin future that I think we
all dream of. Anyways, everybody, let's get to
the mean review, got a lot of memes to review.
Let's do it. The daily meme review brought to
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All right, guys, this is the meme review.
This is your favorite portion of the show.
I know, I know you sit through the first 45 minutes and usually
just tuned in for the memes because we feature here, meme.
So tag me on Twitter, drop, the memes in our telegram group, and
I will find the best one to again, I can't get to all of
them, but I do put them in our show notes and I'll get to them
as soon as possible. But tweet to the bullets memes
are the artillery. We are in an information War
guys. It's never become clear and it
becomes clearer and clearer every single day that you guys
are on the right side and you need to wake up your friends and
family out there and the best way to do this and I'm stealing
the quote from George Carlin. The best way to wake people up
and tell them the truth is make them laugh or else.
They will kill you. So get the means out there, get
the calls of actions out there. Make sure people understand why
you do what you do. You ridicule the corporate
press. These are all tools in our tool
bag. Anyways, anyways, the first me
maybe I should have waited for this one for tomorrow, but hey,
I have it up here and this is by our friend, our DB T C.
And we got the, the Tweet here by the Council of economic,
advisers AKA @whitehouse CA and it is them dropping the news
that everyone was freaking out about that Nico covered in the
beginning about, you know, them taxing, Bitcoin mining, and we
got this fun. Bob Meme here and we got the
tweet and SpongeBob looking at the tweet and he's all
distraught. Like what in the hell is this?
And then he throws the tweet in the fire and it burns and he's
got laser eyes because it's absolute trash.
Absolute trash. Okay.
This next one is by toxic at 27 chest out the toxic at.
He's all over the telegram group and we got the classic.
I don't know, dude, grabbing nor me grabbing a balloon.
So we got a normie, grabbing the balloon and the balloon is
currency in the bank. And then we got the guy behind
him, going more Banks failing than 2008 and then Army looking
back, scared, as he grabs his currency quote, unquote, in the
bank, probably not there. Anyways, its next meme is by a
beauty on and when Beauty on puts his hat in the meme game,
you know, I put it up on the show because he always kind of,
you know, it's critical on our mean game but hey, he's putting
his hat in the ring. So you should too.
And you guys Bitcoin to the regulation, East has Has.
And we got a big hand here. That is my constitutional rights
flicking. A person off the cliff, and the
person is your feelings. My constitutional rights
supersede, your feelings sorry. Not sorry.
Anyways, its next name is bai at to local to and he just goes
hashtag Bitcoin and we got the classic Wolverine laying in bed
and he's she's super sad and he looks at the screen, and the
screen is the mempool fees. Shouts.
Ow trip to one set. Once that perfect little bite
fees. Are we ever going to clear the
mempool again? I don't know, but every time
Odell says that we clear the mempool.
So hopefully we see one set fees again man.
Honestly neither did you see then yesterday?
They were like 120. It was absolute Madness.
Yesterday. Absolutely crazy.
I did get a dip transaction. Go through yesterday.
Look, I'm willing, I'm perfectly willing to pay $100.
That's fine, you know, eventually maybe when fees are
get there, but that's exactly why we have, you know, we have
entrepreneurs, like, Heinrich, right.
Building on the second layer is why the second layer is so
important, right? Because you're gonna pay $100
for a coffee, you know, is it going?
Is it be more than the coffee itself?
Wait, wait. Here, Roger ver screaming in the
background right now. So no, this is a no seriously.
Like, this is why what Heinrich is doing is so vital.
We have to build out the second layer, can't emphasize that
enough Sailors. Focusing a focusing on this as
well, right? Anyways, anyways, I waited till
this morning and got a 20s at fee through.
So shout out to you Nica, you the real MVP.
Anyways, its next move is by Lynn Alden, AKA at Lynn Alden
Act on Twitter and we got the, the classic old man, you know,
smiling in pain Meme and he looks at his computer goes banks
are risky. So I stuffed everything into
treasuries and then it looks at you and smile, which then
defaulted, this is why you need to hold Bitcoin.
This is why corporations around the world will start holding
Bitcoin. This is why even government will
hold Bitcoin. It is what it is.
Just make sure you stack ahead of them guys.
You guys have the asymmetric knowledge today and the
understanding to know why you should be stacking.
So get your friends and family stacking as well.
Anyway, it says, next meme is by the BTC therapist and he goes
the cycle That Never Ends hashtag BTC.
And we got the first first point here it goes government
overreach and then it leads into number 2, which is questioning
money. Which leaves in the number
three, you study Bitcoin which leads to number four, which
means you adopt a superior money, AKA Bitcoin and then
leads to number five, which is you educate others.
So that they also go down the rabbit hole and get Into this
cycle. And then this last name is bai
at Francis. Pull it shuts.
Out the Francis and you know, you know, anytime I see a
Bitcoin miner post a meme or a gif about someone in Bitcoins, n
meditating on their stack, on the proper way to make it
through the separation of money is State.
I put it on the show. Anyways, we got this GIF over
here. Have a guy sitting by the
waterfall meditating and it goes improve.
Self, custody, promote Bitcoin, only keep Bitcoin didn't steal.
July's. This is the way boys and girls
boys and girls. Boys and guys, boys and boys.
All right guys, drop your knees. Just got chat as we cover hours
live, okay. My meme review score today is do
this. It might be an invisible lighter
and invisible, lighter and invisible barbecue style
starter. Okay, it's heads, actually,
fluorescent green, but it's invisible.
Isabel. I'm gonna give it a.
Not just a lot over Crowder mug, but a ladder with Crowder mug,
with a bunch of things things inside.
Yeah, that's my score. Anyways.
Henrik, what would you give those memes?
I mean the remote, the heater fan which absolutely killed my
electricity electricity bills this winter so.
Yeah, still not, haven't fully financially recovered from that.
One needs a space heater. Was that was is that a 3D
printer in the back? Oh yeah, definitely.
I'm just gonna get another one as well.
Let's go 3. Now it's is a Bruiser.
Oh, I want one of those are so bad.
I-i'm gonna buy one, I'm buying one very good that they have.
The new will now that the for Workforce go very, very cool.
Alright, everybody, before we start reading the meme review
scores opting, I want to give a very special shout-out to our
clothing sponsor Opti night, where the merge every single
day. The simply Bitcoin marriage
chopped. He's wearing the classic black
and white represent. Hoodie also new simply Bitcoin
merge dropping soon. There's Is more hats available.
So check out the represent LTD.com website, get it while
supplies last you can use promo code simply Dash Bitcoin get
yourself a 10% discount alright Opti let's get to some of the
meme scores but first cue the epic music.
All right, the p man. Band Score, 1, Roger ver, middle
finger Rage Quit. We should have that video like
just like as part of our b-roll like how you have the Alex
Jones? Yeah we just have to have that
one casein. Gives it my meme review is the
Bitcoin fees when it was at 164 SATs wolf.
Yeah that was crushed. This is why lightning exists
Elaine Lowell says a meme that fills the screen with Sailors
smile. Now words necessary.
But okay. Okay, let's wait, I don't know.
Yeah, you can you can say this one.
All right, I gotta I gotta screen off these Big Macs coin
while it's me and review scores. Oh man, opt he's Big Mac coin
wallet score. Penetrating normies with Bitcoin
propaganda their minds. I mean, I wouldn't call it
propaganda. Oh, just say the truth that
McLovin I give the memes allergy medicine for Opti to You almost
filtered one and then the one you almost filtered one and then
sorry I didn't mind Mike Hobart. I give the memes a fresh cup of
coffee with a dose of locally, sourced, honey, to cure all
these allergies. All right?
Are we okay guys? Thank you.
Oh, one more, it's basic biology.
I give the memes. 100 gross. Self-sealing stem bolts.
Okay, okay. Very I like that.
Very creative. All right guys, thank you so
much for joining us on another episode of Simply Bitcoin live.
We really appreciate it, but before we going to give up very
special shout-out to Our Guest. Thank you so much for joining us
today Heinrich really appreciate it.
Why don't you tell everybody where they could find you on the
interwebs? Yeah, thanks for having me.
Yeah so Ellen capital l n underscore Capital, which is on
screen now and my handle is Oah scope.
Strum hard to pronounce if you're not in region.
So yeah, you can search a bit but I really appreciate you
coming on the show, man, and keep on the good fight because
we do need. We need that that second layer
needs to be built out and entrepreneurs, like, you are
instrumental to that process. Anyways, guys, thank you so much
for tuning in to another episode of Simply Bitcoin live.
We really appreciate if you enjoyed the show, make sure to
smash that like button. If you feel like we provided you
value consider subscribing. But the number one thing you you
could do to help push the peaceful Bitcoin Revolution is
share all Bitcoin content. Of course, we'd love if you'd
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Anyways we love you all will see you tomorrow for another episode
of Simply Bitcoin live at 12:15 p.m.
Eastern Standard Time. See you guys later.