Yo today is November 16 20 22 welcome to Simply Bitcoin live.
We are a number one, source of this peaceful Bitcoin,
Revolution with her, breaking news culture and me Matic
Warfare. We will be your guide through
the separation of money and state ladies and gentlemen.
The shit coin exchanges are burning to the ground.
This is Victory. This is Vindication for all the
bitcoiners that have been telling you just stay humble
stack SATs, they're all going down in flames, its glorious to
see. But man, look, shout out to
Sailors. Shout out to core.
Eclipsed in. Shout out to, of course,
Francis, you know, all the, all the see, all the exchange CEOs
of Bitcoin only exchanges because they've been telling you
for a while that this was inevitable.
Will you deal with shit coins? You get shit results.
And that's exactly what is happening.
It looks like looks like f. It looks like FDX went down that
led to Genesis and then Genesis was involved with Gemini.
And it looks like Gemini's Loan program.
They halted withdrawals all together.
Now, it's really interesting to though is that currently Gemini
exchanges down. You cannot access them.
So, a lot of coincidences, that's what I got to say, but
Anyways, we're going to get ought to all that.
We're also going to talk about, ConocoPhillips shell Exxon
Mobil, the gas prom, they're all, they all announced in the
last six months that they're getting, they're getting their
there. They're dipping their toes in
the Bitcoin mining industry. Those are all Fortune. 500
companies, Bitcoin, Bitcoin mining isn't going anywhere and
at the end of the day with this FTX collapse is it is very, very
good news. For Bitcoin.
We're going to get to all that during the news.
But first, I want to introduce my legendary co-host, the one.
The only always optimistic. How you doing Opti?
Wow, I am doing I am doing well, you know, I'm I'm in safe, Cold
Storage right now, just watching all the fireworks.
So everything's fine on my end. But wow, what, uh, what amazing
things going on in the world right now and the Bitcoin space
right now, it's it's getting crazy.
A out there guys. I hope I hope you guys had
stayed humble and stacks at and put your Bitcoin into cold
storage because things are getting absolutely crazy out
there. And yeah, man, as long as you
have been heating, our words for a while you're good right now.
You know, you don't have the coin on exchanges.
You're just chilling. Yes.
The prices is, you know, taking a little hit.
That is a good thing. My French - I know.
Some of us, we are all Balto. Did and we just we want to see
go to the Moon, you go, this is true, it's true.
But anyways, on today's culture, we got a comment yesterday
telling us not to say shit coin. And we're obviously not going to
not say shit coin, so we're just going to cover some of the
comments, some from, from our friends, on what we should be,
what we should be doing on this and this occasion.
So it's going to be a light-hearted fun culture today,
considering so much crazy stuff going on.
But I'm very interested to hear the news segments today because
it is full of so much spicy material.
Are you pumped bro? I'm so freaking pumped for
today's show Vindication baby Vindication.
Alright guys, this is let's get to the let's get some numbers.
The Bitcoin numbers brought to you by not all at this point.
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Stop trusting other people's notes, if you don't run your own
Bitcoin note, your Testing someone else's, and all of this
is happening right now because people are trusting other
people. And in the case of all these rug
poles, and Bank runs people are trusting other people with the
custody of their money. Anyways, at the time of
recording, the Bitcoin price isn't 16,000 496.
SATs per dollar, where it's 6062 block height. 760 3451,
reachable Bitcoin nodes. Fourteen thousand, three hundred
forty seven blocks to The Happening. 49 having estimate.
April 22nd 2024 total lightning network capacity 5999 5999
Bitcoin, which is an estimated 84 million.
U.s. dollars. Want, we want that number to
continue going up, realize monetary inflation Bitcoin
continues to take Fiat currencies to Absolute school.
One point seventy seven percent and market capitalization that,
that might go a little bit lower.
Give you guys an opportunity to stack some cheap stats which you
guys Guys are going to be super, super happy.
You did a couple years from now. Anyways I have a clip from
Michael sailor. He went on Fox Business and
let's check out what he has to say.
Very interesting then we'll talk about it, Satoshi had had a just
a beautiful Vision, a beautiful dream and not was what if we
didn't have to trust, the banks weather took a conventional bank
or crypto bank and what if we didn't have to save our life
savings and a fiat currency Collapsing and value.
And so, I mean, Bitcoin is the world's most powerful Computing
Network, it's got 270x to Hash of computing power, and it's got
10, gigawatts of energy. Backing it, it means you don't
have to trust the Ft axes of the world.
So yeah, I am a big believer because I believe that, although
crypto in this case may have been, the problem Bitcoin is
still the solution and Sam may have made a million Bitcoin
maximalist with this crash. In the meantime, you are calling
for registered digital assets to be traded on regulated, digital
exchanges. I got only a minute to go.
Would that remove those some of the anonymity that people say is
an attractive part of this old thing?
I think for the industry to move forward, The Regulators in the
u.s. need to give people the ability to register their
digital currency, their digital token, their digital security,
and their digital commodity so that they trade on digital
exchanges. And right now the massive
confusion is nobody knows the difference between a security
and a commodity. And in America we can't trade on
digital exchanges with all these things.
So we're really waiting for The Regulators to give us a road map
that allows us to move forward. Michael.
You My favorites. And this whole thing because you
put your money where your mouth is you articulate.
Okay. Okay.
A lot to unpack there, but in
the very beginning that was the sauce.
Sam Bank been freed fried. I still don't know which, how to
pronounce that last part created 1 million Bitcoin maximalist and
that Latin that second part, right?
We don't have to trust Banks anymore.
We don't have to trust to use his words crypto Banks anymore.
So what I'm going to tell you guys is let them all burn.
So that more Bitcoin Maxis get born and unfortunately,
sometimes people have to feel the pain in order for the
Phoenix to rise out of the ashes.
The Phoenix has to burn. The Phoenix has to die has to
burn down then out of the ashes comes a new Phoenix and
unfortunately some people have to get hurt in the process, but
that's the signal right there is that because of this hardship,
because of this collapse, because of this stuff burning
down, You have 1 million, new Bitcoin, Maxis being created
that they know that they can't trust shit coins.
They know that they can't trust their Bitcoin on a custodial
exchange and hopefully that pain is going to force some of them
to learn how to take Bitcoin into self custody.
All of this could have been avoided if people just took the
personal responsibility and learned how to take self custody
of their Bitcoin and it's not only Michael sale.
Taylor making the rounds on the Legacy mainstream media.
We had of course Natalie Brunell we had Dylan Leclair that were
saying the same message Bitcoin not crypto.
Crypto is Fiat times, 100 times 1000.
You and it's not it's not a coincidence that you're seeing
the same things that have happened in the Legacy Financial
system happen in crypto and it all stems from one very simple
and basic problem people are putting Tremendous amount of
Trust on someone else to hold their money and now they're
paying the consequence for that decision once again.
But hopefully enough people wake up to the fact that it's not
yours unless you're the one that owns the keys.
And hopefully if enough people wake up we break this cycle that
Humanity has been stuck in for the last 100 years.
Anyways, we're going to get into the details of FTX Gemini.
I and Genesis in during the News segment, but I thought you guys
would appreciate that clip from Sailor because I think he says
it best. This pain has created a hundred
newly minted, Bitcoin Maxis, baby Opti.
What are your thoughts broke? Well, I mean, we started today's
show with don't trust verify run your own nodes, you know, we
were sponsored by not also definitely, if you guys want a
standalone node, then by all means do that, but you could
also just download Bitcoin And the reason we're saying this
guy's is because it's what's Taylor saying, man?
Like I love this message that he's saying and not only the
message that he said on that, but the fact that Tan on
mainstream TV, you know, the, I don't know what, how many
viewers fox has or what have you?
But the fact it's on TV. The fact that that message is
getting out there to people outside of our Echo chamber,
that is Bitcoin Twitter or, you know, YouTube, Bitcoin, people
need to know that like this, this is Why we tell you guys
every single day to take Bitcoin in the self custody, I know
people will say that taking Bitcoin in the self custody is
hard or that there's, you know, a mental mental Gap that you
have to come through. But like, in my opinion, taking
self custody is very easy. It's no harder than, you know,
using an email. But as you guys can see, today,
we are seeing Bank runs on the exchanges right now and people
are spook and they're realizing that they need to hold their
own. A coin.
But to that point, I don't think we can be naive and say that,
you know, everyone will hold their own Keys.
Eventually there will always be people that want to keep Bitcoin
on trusted exchanges and so no. But no no, but hold on a second
but this is where family comes in.
I agree since we're gramley comes in agree.
I agree with you Nico but we gotta understand that some
people will want trusted third parties and we can only hope
that what what Sailors saying, you know, having more regulatory
Clarity will We'll be able to bring the infrastructure to
that. People can do that if they so
want to. But again I agree with you.
Mad like I am the Uncle Jim to my family.
I ensure that they hold their own keys because this is why we
this is why Bitcoin was created in the first place to minimize
the Trust on these trusted third parties so that we can opt out
of this madness so that we can eliminate the money printer from
continuing to debase our currency.
And the only way you can do that is by taking Bitcoin in Too cold
storage into keys that you own, you know, having those 12 to 24
words, in a Bitcoin wallet that you own, this is how we how we
further the revolution, guys. So, we are seeing this in real
time that people are taking their Bitcoin off exchanges.
And it's just it's just beautiful to see, you know, it's
a bear Market thing. This has been a pretty bloody
bear market so far and who knows where the bottom is going to be.
But at least there is a silver lining like you're saying, Nico
that more people are waking up to the idea that they can't.
Leave their Bitcoin on exchanges and they have to figure out
stuff custody. So you know, people are putting
a hand on the stove and the Silver Lining is more.
People are holding their Bitcoin in cold storage or at least self
custody. Amen.
Amen to that. So, and another thing also Opti,
is this idea of the Uncle. Jim guys, look my mom, my mom
has been houghtaling Bitcoin as long as I've got in the game,
2016. Okay, my girlfriend is well my
you know my not to get into more details.
Other family members as well and I'm Uncle Jimmy them.
And I created, you know, 24 word, seed phrase for them.
I put that stuff in metal. I put it in there, safe, I put
it in someplace safe and then they have, you know, it's in
their custody. But I know for a fact that if
one day, you're like Nico, how do we spend this?
How do you use this, right? You know, they're going to have
to come to me, they don't they don't know how to fully, they
don't know how to fully, you know, fully interact with that
stuff. It's and it's unfortunate
because they spent so much time. Time in the Fiat Matrix, you
know, and I write down this you know in case something happens
to me and can I get into an accident?
A tragic, accident accident or something?
You know, I write down a detailed explanation of what it
is. How you how you access your
Bitcoin. But unfortunately not not
everyone has the technical know-how to feel comfortable
taking self custody. So what they do is that they
Outsource that responsibility to other people, but this is where
family comes in, man. This is what Family is all
about, right? It's better doing that than
trusting a third-party exchange when it's just a bunch of
strangers and you have to take their fucking word for it.
And that's exactly what happened with ft x.
So if you are the one in your family that understands Bitcoin
takes Bitcoin into self custody, it's on to you as an individual
to take that responsibility and protect your family's members
Bitcoin because they're not going there.
Not there. They probably don't feel
comfortable enough with themselves to do that, and
there's so many tools to do that.
I know that the cold card has this feature, where you can
create and I can't, I'm going to butcher the the technical
details, but you can create basically a parent seed and out
of that parent seed, you create an account number and Via that
account number, you know, it creates other seed.
So, in case your family member loses their seeds, it becomes a
lot easier to recover, right? Be that Jim it with your family,
right? Be that person because maybe
they don't have the technical level on an individual level to
do it themselves. And are you really going to
allow them to leave all of that money?
On one of these exchanges? That's terrible.
Fuck that, take the personal
responsibility try to teach as many people as possible to take
self custody, but if they don't have the technical capability
perhaps like your parents or your grandparents, you know,
perhaps it's it. Falls onto you to do just that,
right? But you got to do it, right?
There's always trade-offs between this and this and that
between this and that. Anyways, anyways.
Alright guys, let's get to the news, let's get into the details
of all of these collapses. Let's do it.
The Daily News brought to you by bit box to bitcoin only
additional Hardware while it by shift crypto crypto like
cryptography. It's secure, it's open source
and it's so easy, your mom can set it up.
Self custody is the revolution in the bit box.
Makes it simple, do not leave your Bitcoin on an exchange
order a bit box today you hear that self custody is the
revolution anyway. Been we've been calling it for a
while, dude. Leave your brother.
G. We are so fucking Vindicated
man. We've been screaming off the
rooftop to remember that clip of Alex machine ski.
He's like the Bitcoin Maxis are telling people to take self
custody of their Bitcoin shame on you bro you wrecked and you
stole from people stopped trusting other people with your
money stop Outsourcing that responsibility.
Anyways, the contagion intensifies, cue the air horns.
Shit, coin exchange apocalypse. It's here, it's here.
It's here. Anyways, let's check out the
article, everybody. The crypto contagion
intensifies. Who else?
Is swimming naked. It's an article by Dylan Leclair
and Sam rule. Let's check it out.
We're currently in the middle of an industry, contagion and
Market on Market Panic, taking shape, although FTX Ahmed, I
have fallen, many more players across funds market makers.
Exchanges, Miners. And other businesses will follow
suit. This is similar.
This is a similar Playbook to what?
Seen before in the previous crash sparked by Luna except
that this one will be more impactful to the market.
This is the proper cleansing and wash out from misallocation of
capital speculation and excessive leverage that come
with the global economic liquidity tide going back out
and I completely agree. Nature is healing, flush out all
of this shit coin. Let these shit coin exchange has
burned to the ground. Dude, I would have had actually
heard this. It was mr.
Hodda who said it in the space. Aces.
We would have hit 100 200 K Bitcoin if the shit coin.
If the last cycle of these shit coins weren't distracting
everybody from what is the truth?
What is the only cryptocurrency that could separate money from
State? Because of its true
decentralization, which is Bitcoin and all these shit
coins. And all these exchanges that
have to justify their existence because they know they're
selling you shit has to burn to the ground.
I Want to see more of them fall that said, everyone is quick to
the jump on the on the next Domino to fall.
It's natural, most information surrounding balance, sheets and
hidden leverage in the systems is unknown.
While new information developers in real-time or flowing out
every half hour. It seeks changes are under the
spotlight right now than the market is watching their every
move and transaction. There's likely no exchange.
That is going to be as a Regis with client funds as ft x and
I'll matter were but we don't know which exchanges cancer can
and cannot survive. I've a bank run as shown by
markic reaction crypto dot-coms. Kronos token fell 55% in a week
before getting some relief over the last day.
There's been a parabolic trend. I would draws a bank run on the
exchange of the last two days with the CEO, doing the media
rounds to assure everyone, that wood drawers or processing find
and that they will survive, right?
Do you really truck? FTX was trusted member, mr.
Wonderful, going out, I could love to trust Sam.
His parents were his parents were, you know, we're Leaders.
Of course I'm going to trust them.
Well that fucked up didn't it what were some of the other
actors are sports stars Tom Brady we had Matt Damon it's
just a giant cluster fuck and it's a Vindication of what
bitcoiners have been saying and screaming from the rooftops mad.
Odell's famous line, stay humble, stock sites, and of
course not your keys. Not your Bitcoin.
Anyways, moving on to Genesis. This is the latest Thing to
Fall. Another One Bites, the Dust
Genesis. Crypto lending unit is halting
customer withdrawals. And wake of FTX collapse, The
Lending arm of crypto Investment Bank.
Janice global trading is temporarily suspending
redemptions and new loan, origination 's, in the wake of
FTS class, interim CEO. There are, Isla is Liam told
customers on. On a call Wednesday, the unit
known as Genesis Global Capital Services as an Institutional
client base and had 2.8 billion in total active loans.
As at the end of the third quarter of 2022 Genesis trading,
which acts as Genesis Global's capitals broker-dealer.
Is independently capitalized and operate separately.
From The Lending arm isn't said he added that Genesis trading
and custodial servant's remain fully operational.
It's interesting Genesis. Now, this is really funny.
Genesis owner, digital currency group is also the parent company
of coin desk. That's right.
The first, the people, the people that the the, you know,
the news site that I'm getting for getting this information
from coin desk, is also somehow involved.
In this clusterfuck, contagion of these shit coin exchange is
going down today. Genesis Global Capital Genesis
Lending business has made it the difficult decision to
temporarily suspend redemptions and new loan origination it's
funny. It's funny remember how I told
you guys that cryptocurrency crypto better said is 100 times
Fiat you know who also love is loves that word temporarily
government's. That's exactly the word that
Richard Nixon said when he took the u.s. off the gold standard,
He said, we are taking that something where were temporarily
halting the current convertibility of dollars to
gold and it's never temporary. It just never comes back.
Now, what's interesting is that Genesis was the company that
Gemini was using and Gemini seems to have also gone down.
I mean specifically better said it not their exchange but
they're lending program. So winklevosses Gemini delays
with drawers on Lending. Programs.
So if you're chasing that yield right, if you, if you're tasting
that yield absolutely wrecked. I don't think you're going to
get whatever money you had with the yield.
It's still to be seen. Whether Gemini The Exchange is
going to go down, but I'll tell you what, is it, a very good
sign if you go to the Gemini website right now after they
made that announcement, there's that word again, temporarily
grounded. I'm sorry guys.
This is just reality, is Stranger Than Fiction.
Sometimes. Let's see if they have it back
up yet. Oh, it looks like they're back
up but at the time it a couple hours ago they were down and
apparently, this had nothing to do with anything.
He says, we experience in Amazon, and Amazon web services,
EBS outrage outage with one of our primary databases, we have
restored, the databases aren't are bringing the exchange back
up, okay? So Maybe but I'll tell you what
guys? If you do have money on Gemini,
I suggest you take something. In fact, if you have money on
any custodian I suggest you take that shit back by now.
Anyways, so I keep saying that history has been repeating
itself over and over again over the last hundred years and
that's exactly what's happening. So this is a Great Depression.
This literally happened almost 100 years ago and this is going
to sound very, very familiar to you guys.
Check this out, the run on America's Banks.
This began immediately following the stock market crash of 1929
overnight. Hundreds of thousands of
customers began to withdraw their deposits.
With no money to lend and Loans going, sour as businesses and
Farmers went belly-up. The American banking crisis
deepened, after taking office in March 1933 FDR did his best to
shore up the flat. The flagging banking system when
a Third Banking panic, in less than four years threatened, he
announced a three-day bank holiday to stop the run on banks
by Seeing all Financial transactions.
It's the same story repeating itself and when you look at it,
from a fundamental level, it's very simple.
Stop trusting other people with your money because they're
incentivize if that if they have that big pile of cash, if they
have that big pile of Bitcoin, it's pure human incentive.
They're going to they're going to think and it's I don't I
don't think it's malicious. They're going to say, you know
what, I could use some of this. Oin to increase to make some
money to make some money for myself and my customer wins.
Also because I can give him some interest and that works fine,
during a bull market, but during a bear Market, it's a
catastrophe and this has happened recently, you don't
even have to go back to 1929 Lebanese Banks to shut
indefinitely after flurry of hold UPS. 100-year, almost 100
years later. History is repeating itself once
again. End.
And why is that look? And it was terrible.
Lebanese, banks are to remain closed indefinitely due to
ongoing risks to employees and customers the association of
Lebanese. Banks announced Wednesday.
The shutdown's follow a series of holdups across the country.
Over the past month with at least five separate Banks, held
up by depositors last Friday alone in an attempt to retrieve.
Saving saving Frozen in the bank.
He said savings Frozen in the banking system.
Millions of Lebanese citizens have been locked out of their
accounts after the country plunge into Financial.
Crisis, in October. Twenty twenty nineteen with
local currency, since losing 90 percent of its value.
More than three-quarters of the population have had pushed into
poverty and most are unable to pay for basic items.
History is repeating itself and I'm going to play the beginning
of the clip that I played you from Michael sailor to show you
guys that you no longer have to trust third parties with your
fucking money. All right.
Like Satoshi had had a, just a beautiful Vision.
A beautiful dream. And that was, what if we didn't
have to trust the banks, whether it's a conventional bank or a
crypto bank, and what if we didn't have to save our life
savings and a fiat currency, that's collapsing and value.
Duh, I've been telling you guys learn to take self custody, and
that requires just a little bit of personal responsibility, but
you have the opportunity to not only save yourself, save your
future, save your future plans, your hopes and dreams, but you
also have the opportunity to save your family as well.
If they don't have the technical know-how to take self custody.
Be the Savior, be your own savior.
Fuck this old world. You could have made an argument
that this that this system was necessary before Bitcoin.
Think about it, you store gold under your mattress.
That's fine. But try transacting and gold.
Are you gonna have a little tiny pickaxe every time you go to
CVS? Like, how much do I owe?
You know, that's not going to work, right?
So are and what if you're fleeing the country?
If you live in a totalitarian regime what are you gonna do?
You know, hide all that in your gold teeth.
I bet you if that country is really going through something
crazy, you better. Sure that those those border
guards are going to check your teeth in those other places
where the sun doesn't shine man, but everything changes.
When you can memorize 12 words in your head and you can store
millions billions trillions of dollars and you could send those
anywhere without having to ask anybody for permission.
But this is only possible if people use the tools of which
Bitcoin gives them and this is the lesson that is being learned
today. And unfortunately, Lee.
Unfortunately, millions of people had to get wrecked for
this lesson to be learned, but hopefully some a percentage of
those millions of people will learn Bitcoin, not crypto and
hopefully a percentage of those people will learn as well.
Not, you're not your keys, not your Bitcoin Opti.
Well, first off, you killed that, Nico.
And one of the things that I was reminded of what you were
talking is guys, it's literally in the Bitcoin white paper, the
Fiat system runs on trust and that trust has been abused.
This is what we're doing here and it's almost like everyone is
learning or re learning the lessons to not keep more Bitcoin
on exchanges in, you're willing to lose.
And as we watch all these, Fall and The Dominoes will continue
to follow this. This it's just amazing.
This FTX contagion is Rippling through the Bitcoin and shit
coin space. And the bank runs that are
following on the exchanges is even crazier and we're still
we're still like in the middle of this the more the more
information we get from this FTX collapse coming out the more
insane this story is going to get and someone said in the chat
like the the movie that's the movie that is going to be made
to, you know. No capture this moment is going
to be longer than the Lord of the Rings saga because it just
it's getting crazier and crazier and crazier.
It's going to be an absolute Epic movie but this is why we
tell you guys to not give up your Bitcoin.
Don't chase the yield you know, stay humble Stacks at stake,
your Bitcoin in the self. Custody read, you know, memorize
those 12 to 24 words, add a password on it, get getting the
multisig. Like, I know, I know Bitcoin
memes a lot of times they get lost because people just think
that Frivolous that they're, they're just people having fun
but there's truth behind this stuff.
And, and people have felt this pain before and of course, we're
hoping that everyone will learn their lessons but as more people
come into the fold more, people will have to put their hand on
the stoves and more people will get rekt.
So let's just hope that we can stay, you know, quote unquote,
toxic out there and be principled and tell people what
we all know to be true. Which is Bitcoin is the only
thing that can withstand this and the only Any way that you
can actually opt out of the system is by holding your own
keys, so just absolutely amazing.
And then one little funny on this nigga like the Gemini
stoppage. I know they said it was the
Amazon web services but it really does feel or at least
reminds me of the infamous. Coinbase always going down me
more it's like when things start getting crazy coin basis down so
you know Gemini is is a well regulated and well respected
exchange. So obviously I Can Only Imagine
In that they are doing everything in their power to
ensure that their exchange sticks around.
You know, the wink of I seem to know what they're doing over
there. At least as far as the public
opinion looks like. But again, this doesn't negate
the facts of what Nika and I are telling you, take your Bitcoin
off, exchanges do not leave more Bitcoin on an exchange in you're
willing to lose your Bitcoin should be in Cold Storage where
it's nice and safe and none of this can affect you.
In fact, in fact, the the Bitcoin The big peaceful Bitcoin
Revolution is not possible. Unless enough individuals take
back their financial sovereignty.
If enough people take self custody, we win this peaceful
Revolution, and there's absolutely nothing they could do
about it, but it's just a matter of action, man.
You have to take action here whether it's for yourself,
whether it's whether it's for your close ones, stop trusting
other people with your money because when hit when shit hits
the fan, it's the human incentive for them to take care
of themselves. Save themselves and this e.
This includes governments by the way, remember the passage that I
read with FDR right there and Lebanon to write the let the,
the government's and the banks and the the founders of these
shit coin exchanges, they're going to take care of themselves
before they take care of you. What situation would you rather
be in you? Rather be in a situation where
you are, the one taking care of himself or herself and of ran?
Wow, I got me fired up, bro. This is just the beginning it's
gonna get crazy. This is the shit coin exchange
apocalypse. Baby.
The apocalypse, it's here. Alright.
Culture time, the daily culture brought to you by swan.
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for this whole week that we're going to have to reiterate some
of the Six, a lot of the Bitcoin fundamentals because not only is
the new people into the fold into the Bitcoin fold and, and
new people learning our Bitcoin mantras.
But apparently, people are forgetting the lessons of old.
So we got this comment on our show yesterday as we stated on
our Twitter comment on our show today, not going to make it,
what should we tell them? So we got a fan, her listener or
viewer. And he goes, can you guys stop
using the term shit coins? You are actually hurting
Bitcoin, with broad underserved undeserved terms like that,
ethereum really hold on, hold on, we got, we got a comment, we
got a comment, is he got addresses lone voices low until
now you're advertising Swan. Yeah, yes, Juan is dope.
First of all, their Bitcoin, only Exchange number one, number
two, they incentivize you to take self custody.
They push it. Oh man.
Yeah.
No. And, and alone loan void.
Absolutely, you should not. You should not trust any
exchange including Swan with your Bitcoin.
That's why you should take self custody, right?
Use these exchanges, use these exchanges to stack SATs, you
could also mine Bitcoin, you could also earn Bitcoin.
Anyways, I just want to clarify that Opti, beautiful beautiful.
So, as I was saying, we got this comment, can you guys stop using
the term shit coins. You're actually hurting Bitcoin
with Broad undeserved. Terms like that you theorem
isn't the enemy. Traditional Finance is the
enemy. So we asked, we asked all you
guys out there, what should we respond to him?
And so I just brought up some of the good comments and then,
well, you know, we'll get into some of the, some of the
receipts that literally got dropped yesterday as well on.
Why you should not be trusting you to him and why we will you
shit coin. But before I get into it, there
is one point that that I understand here.
To the extent that most people don't like to use cuss words,
you know, to use curse words. So on that point I met I met,
you know, bend the knee a little bit yes maybe we can find a
better word for shit coins but shit coins, it Paints the
perfect picture, there's Bitcoin and there's shit coin.
So first and foremost we got Bitcoin ization, he goes low, he
thinks that traditional Finance is the problem without even
knowing what the problem really is.
He is amazing. Ethan been the car man.
He goes aetherium is a re-creation of the traditional
finance and I say it all the time.
You know shit coins are our Legacy Finance on the blockchain
much Innovation much wow they're recreating the worst of the
worst of the Legacy Financial system on the blockchain as you
can see with FTX. It's getting an atrocious out
there and I know, I know she coining.
It might hurt your feelings, it might hurt your feelings that
were calling cash it coin, I should coin, but Etm is the
ultimate shit coin. And I like BDC Padre, of course,
I am the meme. The meme Lord, the resident
mean, Lord. So we got BTC proud.
And guess what? If I told you this captured
through ofac with its capture, so is every shit coin, it
produces. And if you think we are just
making things up, we're bringing on the receipts again.
And we got this tweet by Jason Lowry which continues to show.
That post-merge eith is. This one's not even the updated
one? There's one that's like 70
percent of Youth blocks, you know, censoring for ofac.
So as I said it before on the show, I am very happy that
you've moved to proof of stake because it's no longer
theoretical. That proof of stake is going to
get captured. We are seeing it in real time
and now Bitcoin is the only proof of where coin out there.
That is decentralized, guys. And as you guys can see
everything and shit. Coin, land is getting rekt.
And as my friend kiwi, ha, do I get a New Zealand Hado says, if
you don't get it by now, I don't have time to explain it to you,
and it's the Spider-Man meme where two theorems blurry.
But it's really the world economic Forum coin.
And again, we're just going to keep doubling down on the memes,
guys. So, as you guys remember this,
one goes around all the time on Twitter.
It's the Star Trek meme. Are you two friends?
Bit Coin and crypto and Bitcoin goes.
No, and crypto and chicoine. Say, yes, we are not all in this
together, but I will continue to go on and we got info info
apocalypse. One, he goes e.
Theorem is Trad 5. Same old schemes and tricks
depositing with no ability to withdrawal is the most Trad
fighting ever did L rolling back.
The blockchain and constantly changing its monetary policy.
Not immutable, not decentralized.
No, absolute scarcity back by the world economic forum and
CBD. See These and if you don't know
what he's talking about yesterday, we heard that the
ethereum foundation eliminates. The estimated withdrawal time
frame for staked Eve. They are, literally not even
letting you withdraw, your stay Keith.
Any theorem holders will have to wait for clarified information
on when they can withdraw their steak teeth after eliminating
the dates from the ethereum foundations, official website.
So it's even worse than the traditional Financial system.
And this is why we call it a shit.
Because as we're showing here with the office meme, there's
traditional finance and then there's the etherium logo and
corporate needs you to find the difference between this picture
and this picture, but they're the same picture guys eat.
Theorem is as safe. And Dean said the mother asshole
that all shit coins come from amazing.
And again, we're just doubling down on the memes and and just,
you know, we're making light of the whole situation because as
you guys can see out there, this whole FTX debacle this whole
show, Defy shit. Coin debacle.
Wait, wait. Hold on.
Opti. We got we got some crazy live
chat. Actually, I got some crazy live
chat action loan void. I'm sorry, I'm so mad.
Now, what is happening? I can't even make me my wood
drawers in Gemini. Yeah, bro.
You should use Swan it could. This is, this doesn't happen
with Bitcoin exchanges. My friend, there's only happens
when shit coin exchanges, dude. Oof oh man, and dude just listen
you buy Bitcoin, you earn Bitcoin, you mine Bitcoin and
you take that Bitcoin you immediately put Into self
custody. Dude, that's what you got to do.
And then you got it. You know, you got a lot, you got
to hide the key somewhere. Forget about it and use.
Bitcoin is savings, dude. Don't trade, don't leave.
Your don't leave your Bitcoin on exchanges.
A terrible terrible move. It goes back to what I was
saying during the news, you're trusting.
Someone else with your wealth. You no longer have to do that
especially now that Bitcoin exist.
Sorry optic. Sorry, I'm sorry.
No, no worries. I mean we We've covered that so
many times and then even today, you know, like we've thoroughly
demolished ethereum on the show in the past and it's still
amazing that people get their feelings hurt.
When we talk about shit coins when we talk about shit, coin
exchanges because our points get proven all the time and mr.
Robot said in the chat earlier you know the Bitcoin Maxi jar is
full always because it's a very simple mantras that we have out
here is bitcoiners and it's just a humble Stacks at to provide
the value. Put your Going into cold storage
and do something of value or rather, you know, go enjoy life
and Bitcoin will be here for you when you need it.
But again, let me finish some of these memes here and some of the
comments here, we got Mattias ghost of Natalia's to and I
really love this meeting because it's pretty fitting today, and
we got the the horn down mpca because stop giving me your
toughest battles and we got Jesus and you guys, bro, just
sell your shit coins and by bit client.
It's really this simple guys do not get caught up in the greed
of of chasing shit coin game because this is the risk that
shit Corners do not tell you. This is the risk that crypto
influencers do not show you. This is what we tell you all the
all the time you are the yield guys and you're better off just
staying humble and taking your Bitcoin in a cold storage
because when all these Black Swan events happen and they will
happen. Your Bitcoin in Cold Storage is
safe and sound and sleeping. Lightly waiting for you storing
Valley for you when you need it. But she outside the DJ booth
007. Egos Bitcoin is a breath of
fresh air while everything else stinks.
So the term should going entirely deserved amazing and
you know they're going to dunk a little bit.
Tell him, we're not in this together and go get rekt, guys.
So to sum it up as Warren Davidson said that is Bitcoin,
and there is shit coin, and the longer that we stay in this bear
Market, Right now the longer that etherium halts withdrawals,
the longer that all the shit coins built on top of e, theorem
start to blow up one by one. You will know that there is
Bitcoin in their shit coin. So yes, There is a problem in a
real enemy in traditional Finance.
But aetherium may even be a bigger enemy because it's office
skating. What we're doing here in
Bitcoin, it is recreating the worst of the worst on the trail
of the traditional Finance system on my block chain and its
marketing himself as better than Bitcoin and it's getting people
wrecked and they will continue to get people react and it's
only a matter of time until etherium blows up in everyone's
face. But hey, you know, they got the
world economic Foreign backing it so who knows how long they
can keep that charade going. But for you, the average Bitcoin
are out there. The Listener simply Bitcoin
continue to use the word shit. Coin continue to separate
Bitcoin from crypto Bitcoin from shit coined because they are not
the same. There's one true decentralized
coin, there's one truly distributed coin out there and
it is Bitcoin and Bitcoin is Unstoppable and it's got the
longest track history and you're just better off.
To save him Bitcoin guys, you can avoid all this madness that
we're seeing right now. If more people just take Bitcoin
into self, custody of more people, spread the message that
there's Bitcoin and there's shit coin.
Anyways, Nico rant over, let's did you leak.
Could you leave the original comment on?
So okay, just Riff on it. I got you one second, one
second. Hold on, let me play.
Why you pull it up? Okay, it's up.
Its up. Okay, here we go.
Shit going on regarding yeah? Dude.
Look, we've been getting these comments so much man at the end
of the day. Look, aetherium is highly
centralized. We know for a fact that the
majority of aetherium validators right now are actively censoring
for the United States government, dude.
Like, you're holding, like you're holding a, you know, a
Fed coin that I don't even know. Know what?
I don't even know what to call it.
Like, it's not me saying that, like, we always bring the
receipts on simply Bitcoin. These are the majority of
etherium validators right now, 73% are enforcing ofac sanctions
ofac stands for the office of foreign assets control is a part
of the US Treasury, right? So, yeah, this is what you're
getting with the etherium. You also don't know what the
supply is. You can't validate that
yourself, man. You know, this thing is
completely. He controlled by metallic.
They've they've had rollbacks before.
So yeah, if your money's in aetherium, you're really in the
hands of vitalik. You know, you're trusting.
Someone else. Like I keep saying that in
Bitcoin, you're not trusting anybody.
There's no, it's trust minimize. You could say right?
Stop trusting other people with your money bad things happen
when that happens, man. So yeah, dude, you go go suit
yourself, you know? Take your money and shit.
Part, Parker wealth, and shit. And then when these keeps, when
these things keep on happening, I promise you you're going to
remember what the Maxis I've been saying and most likely.
He will become a Bitcoin Maxi yourself.
Just right let me go. These people just got asked
himself one, simple question if it's not decentralized if it's
not censorship resistant. What is the point of this all?
And as Nico just explain again, they're censoring 40 fact and
you gotta trust, the italic in the theater and Foundation or Or
you know that Corporation and all these other shit coin guys.
It's very simple. There's Bitcoin and the shit
coins and it's just abide by the natural laws of what's going on
over here. Amen to that.
All right let's get to the meme review.
Let's do it. The daily meme review brought to
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It's completely free. Anyway.
No Opti. Why don't you use my own design?
Isn't that break the rules because you don't make memes and
it's a good meme. But anyways, guys, you know, you
know, the score here this is 2. Min review tweet are the bullets
and memes are the artillery and we are in an information worn as
well. You can tell out there and pick
on land we still have to get the message out there.
We have to continue to reiterate the basics because people still
don't understand what we understand which is there is
Bitcoin. Hold on actually have it right
here. What's the second best?
There is no second best. There's Bitcoin in their shit
coins, take your Bitcoin in the South custody but of course,
this is a mean review score. So by the end of this mean
review, score, Drop Your Meme review score in the chat and we
will cover it. Anyways, as I told you guys Nika
showed me this actually I was I was kind of, I was kind of
teasing them earlier, I was like, oh wow, Nika look you made
a meme today. I'm going to add it to the
medium used cars. So we got a clip that Nico
clipped out and it's From There Will Be Blood and I forget what
this guy's name is but Daniel Plainview.
Daniel Plan. Do you see?
This is why I had to get it. Nico.
Daniel Plainview sitting there on his chair, as a Bitcoin.
ER relish, you don't take if you don't take self custody, don't
drink your milkshake. Don't drink it all up, it's all
God. Exactly, and it shit corn
exchange is going up in Flames. This is where we're at right
now, guys. Absolutely amazing.
Again, I don't know how many times I can have to.
Iterate this, but take your Bitcoin in the cold storage.
There's a bunch of good wallets out there.
I maybe I'll have to do that one culture where I just named down
every wall at that we like again but we're in the mean review
score. So this next one is by at the
freethought project and he goes a century later and most still
don't know. So the meme is a picture of SBF
and he goes, if you think the FTX Ponzi scheme was bad, wait
until you hear about Jekyll Island in 1913?
Oh, that one. Hit that one hit right there.
This next one is by our friend at 21, JC LP and he goes, good
morning, Bitcoin breaks, the chains of slavery.
And we got this picture this very artistic picture of Bitcoin
with a fist, Breaking the Chain of slavery and Nico.
We had we had we had another Nico on the show last night and
he said something very interesting that that I think we
say all the time and he said and I of course I'm I'm gonna
butcher the same but he said something on the lines of, if
the Marxist really believed, what they believe of giving
power to the people, then they would be Bitcoin into because
Bitcoin is the only currency that gives power to the people.
So, I really like this play play kind of on on that.
That message. Anyways.
This next one is by Maxis Club because to 15 Pairs and I know
this is going to be all of us on Thanksgiving, but just just on
that point. We got a we got a girl, a pink I
don't know what pink Pepe, frog girl.
She's holding some SATs coin. He goes.
I'm sorry for talking to you about Bitcoin properties 24/7,
but I have a gift for you and the girl goes up a pair.
He goes pair, two pair, really bad, dad jokes, like that.
Anyways. All right.
This next one, shouts out to my friend on this AKA stands of
SATs and this this morning on Nica's post where he's you know,
shows that Genesis crypto lending unit halts.
Drawers, Nica goes another one bites, the dust.
And on just makes this meme where this is really bad.
This is obviously not OSHA approved, but we got a guy
standing on a ladder, over the edge and the guy over the edges.
You, and he's fixing his air conditioning in the air.
Conditioning is your coins. And his friends are leveraging
the ladder, so he doesn't fall off the edge and it's his
centralized exchanges. This is what we're telling you
guys all the time. Do not keep Bitcoin.
On an exchange because it's not your Bitcoin and you might get
wrecked when the exchanges take their foot off the ladder.
Anyways, as we've been saying and we kind of covered this on
the, on the culture. And this is why I wanted to
bring this one up in the memes, we got vandelay and he goes, eat
dinner. His next doubted, all you want,
it's coming and we got Jon Steph 81 with the infamous Reaper,
Meme, and we got, you know, the first is Daquan the bloody door.
The next is SPF. The bloody door and the
soon-to-be bloody door of vitalik.
Don't get wrecked and shit coin, Lana, it's bound to happen.
The shoe will drop anything will get rekt eventually and then
this morning, we got tagged by our friend.
Mr. Robot. And I really like this picture
and he says simply Bitcoin TV. Bitcoin are mid-journey the full
version for and as you can see someone Studio, I'm guessing
this mr. Robot studio and he's got an eye
on the On the map and it's got simply Bitcoin on the screen.
And this is the podcast Studio, the futuristic podcast studio.
So absolutely love that. Thank you for that mr.
Robot we appreciate all the love guys this is simply this is
simply Bitcoin live, put your score in the live chat and Opti
and I will read as much as possible before the buzzer beeps
Opti I'm gonna beat you to it. Bag of Chipotle chip by those
seed oil free? I don't know.
That's a good question. I don't know.
I don't know what Chipotle does. Anyways, leave not seed oil,
free definitely not seed oil, okay?
Okay, mommy. All right, I'll see.
What would you give those memes? Alright, guys.
So we did just come back from Pacific Bitcoin conference and I
got these real cool Pacific Bitcoin trading cards.
And you can see this one is, oh, you can't read it.
It's Taxation is theft. Let me see if I can get this to
mirror for you guys so you guys can see it.
Really cool, really cool trading card.
I got a few over here so you guys might know where my review
scores will come from for a while.
Anyways, we got the first one from Bitcoin Becca.
I gave those memes the latest edition of BT weekly hot off the
fresh hot off the printing. Press nice.
Alright Shilling or own stuff in our chat, you a shame to Salazar
irate. Those memes, my block fi credit
card what? Victor, you're in the wrong
show, buddy, you're in the wrong show.
No, no, no, no, no. That was it, that was the worst
score I've ever. Heard rope rating, those memes.
Opt he's 21 inch before yesterday for balding, and now I
get roasted for my 21 inch forehead.
Hey, this is the robot. It's a robot, right?
Those memes. One peer-to-peer Robo SAS
transaction. Very nice, very clever Bitcoin.
Canadians. I rate a score, the memes, the
final Bowling Alley scene from There Will Be Blood.
I would drink your milkshake. Okay, I really recommend that
movies fucking awesome, right? You deserve your money says
irate. Those means one sausage egg fry
up. Okay, next one, we got Brandon,
I give those memes a fresh 40 pound box of security envelope.
So, my your ass when and where will be the next Bitcoin brought
the Bitcoin. The next Pacific Bitcoin will be
in September, guys, don't want to miss it, best Bitcoin, one of
the best Bitcoin conference I've ever been to.
And think the question though, is when where will be the next
Bitcoin conference? I think that, I think I'm right,
or is it Bingo is Bitcoin. It's Bill, Bitcoin mag Bitcoin
conference. I think it's in April or May in
Miami. Well, let you guys know, Brandon
says I give those memes, you did that one.
Okay. Opt he's neglected, special
co-host. Mama Opti mom.
Opti reviewing her experience with backpack.
Fox I can't find Brandon. Where do you go?
Okay, Diaw genus Bitcoin. Oh no, no no more score.
Oh, one more score irate. Those memes.
The liquid Network. Water bottle.
I got a ta. Be conference.
Awesome. Last one before the buzzer irate
those mean boost on Fountain. Alright, awesome scores for some
awesome memes. Guys, I also want to give a
shout-out to Simply Bitcoins telegram group.
You got to go to www.ah.mil /, the simply Bitcoin Channel.
Also, join our sub stack. You got to go to
www.simpleandsensational.com, ittan version of Simply Bitcoin
shout-out to our awesome Riders. Paul's sack wine and kiss
Ruston, don't want to miss that sauce.
But anyways, Opti we have a pub site today.
Let's check it out. Websites brought to you by
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only on Cipher safe dot IO. Alright guys, so Today we have a
side by Bitcoin. ER, this is really cool it's
called wallet build so I know you guys know that Jack Dorsey
is making a Bitcoin wallet out there but go check out this
website. There's and there's all kinds of
sources and and articles about, you know what they're doing?
Why they chose it? What you need to know about
Bitcoin wallets? I think this is a really great
resource. And, and you can see, you can
see a, their updates It's yeah, all their updates to yeah and
you can see an insight into everything they're doing on with
wallet and I think there was some cool maybe I can't find it
right now but there was some visuals over here or maybe it
was another part of Twitter. But anyways go check out wallet
doll build and see and get a little foam alone.
What's going on with Jack dorsey's, Bitcoin wallet out
there very very dope. Also want to give a shout-out to
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all. Thank you for tuning in to
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Bitcoin. Let's go.
All right guys. Well, well well well well well
as you guys can see