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Welcome back, everyone. 
We are simply Bitcoin. 

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We break down the news. 
The daily fail mean review. 

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Software releases Hardware 
releases and the plep sites, 

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joining us today. 
We've got fellow bitcoiners from

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the progressive Bitcoin, ER 
podcast. 

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That's right, we've got Mark and
Tom mark, thank you very much 

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for joining us. 
Tom you as well? 

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This is gonna be an awesome 
show. 

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Thank you so much for having us.
Yeah, great to be here. 

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Thank you. 
Awesome. 

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Awesome, let's do it. 
All right. 

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Nico. 
You know what's happening? 

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We're diving into the numbers. 
Let's go numb. 

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Brought to you by not all they 
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using someone else's. 
So get yourself a novel. 

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Bitcoin do today at the time of 
this recording, the block height

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is 740 2013. 
The Bitcoin price 20,000 265 

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chain rewrite day, 773 total 
public lightning capacity. 3960 

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55 Moscow, time 4932 blocks to 
The Have and a 97 thousand nine 

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hundred eighty seven and the 
samurai Whirlpool. 

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Unspent capacity, Samurai 
Whirlpool is a coin or 

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collaborative spend. 
It is not a mixing service and 

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the unspent capacity for that 
pool is 4750 9.73 Nico, the 

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uneventful numbers once again 
man. 

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But uh, Yeah, the uneventful 
numbers. 

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There was there was there was a 
lot of blood, not too long ago. 

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Anyways so today I want to talk 
about something that I was 

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supposed to bring up yesterday, 
but we ran out of time. 

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And it's this, this Market 
contagion, right? 

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We saw the Celsius collapse. 
We saw Luna, and we are going to

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see block Phi and block. 
Phi is a huge company, but it 

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looked like, and just, like, in 
the Fiat world, right? 

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It's so the the crypto world and
The Fiat world are so similar 

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just like in the Fiat World, 
somebody stepped in and they 

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bailed out block Phi and this 
case it was the CEO of FTX. 

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His name is Sam Bank fried. 
Or is it five minutes freed? 

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Thank been freed. 
Thank you fried, whatever fried 

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free Nico. 
Can't read. 

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You guys know the deal. 
So anyways, this check out this 

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article by MarketWatch and it 
gets into a little bit of the 

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details of it. 
My name is article is crypto 

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lender block by gets 250. 
In bailout from FTX crypto 

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lender block, fight announced 
Tuesday. 

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It had received a 250 million 
dollar revolving line of credit 

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from crypto exchange, FTX to 
help bolster its balance sheet 

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to quote. 
Today's Landmark announcement 

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reinforces with a commitment 
that block Phi has to serving 

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its clients and ensuring the, 
their funds are safeguarded in a

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series of tweets Prince added 
that their deal further 

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bolsters, our balance sheet and 
platform strength. 

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And that the Proceeds of the 
credit facility are intended to 

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be contractually. 
Subordinate, to all client 

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balances across all types 
account, all across all account 

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types. 
I apologize. 

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The credit facility comes after 
ft x. 

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CEO saying bank man, fried freed
told NPR over the weekend that 

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larger companies such as FTX 
should help struggling crypto 

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companies when they can. 
I do feel like we have a 

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responsibility to seriously 
consider stepping in even if To 

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add a loss to ourselves to stem 
contagion. 

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So is it really I lost yourself?
It looks like you want to 

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probably upon a prophet up even 
if we weren't the ones who 

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caused it or weren't involved in
it. 

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I think that's what healthy. 
That's what healthy for the 

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ecosystem. 
I disagree by the way and I want

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to do what can help it grow. 
And thrive in a statement 

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Tuesday, Bank bank been fried 
said, block phi's team has 

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always demonstrated a strong 
bias towards pertinent. 

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Risk management that's 
Manhattan. 

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And that's why they need 250 
million dollars. 

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Protecting customer assets is 
their top priority which allows 

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them to operate from a position 
of strength, look in every 

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hypothecated, the funds. 
Yeah. 

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Yeah it look and and what's 
terrible is that a lot. 

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I'm not going to name any names 
but a lot of predominant crypto 

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podcasters, I'll leave it at 
that. 

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I'm sure a lot. 
People are going to say 

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something in the comments, we're
advertising this and they were 

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pushing it very hard, block Phi.
And it was bitcoiners that were 

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saying, listen there, 
rehypothecation your funds right

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there that you, you send your 
Bitcoin there as collateral and 

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then they take that Bitcoin and 
they gamble with it, right? 

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And that's very different than 
what a Bitcoin company like 

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unchain does. 
For example, when you send their

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collateral to them, it doesn't 
leave the address that you send 

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it to. 
Right? 

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So you could clearly tell you 
could look at the blockchain and

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see, hey this, this Bitcoin is 
not going anywhere. 

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In the reason I say that is 
because there's different ways 

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to approach this and what's 
unfortunate of a block phi's 

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that they're not learning from 
the Hundred Years of this Fiat 

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system. 
They're doing exactly the same 

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thing in the tragedy of this. 
Am the CEO of FTX stepping in. 

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Is that I disagree? 
This is not healthy at all. 

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You should let the market do its
thing. 

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Cuz that's how you prop up 
zombie companies. 

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And that's exactly what was done
in the Fiat system specifically 

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in 2008, right? 
The government stepped in and 

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build all these companies the 
so-called too big to fail and 

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you didn't let the market 
cleanse out, the less efficient 

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market participants and from 
from that cleansing. 

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And from that destruction comes 
more and new efficient 

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companies, right? 
So it's like, we're not learning

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from the past, right? 
And it doesn't surprise prize me

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that this is coming from the 
crypto Camp, right? 

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Oh man, I don't know what to 
say, dude. 

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Like this is just I feel like 
this is just going to be a 

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continuation of the old system 
Phil and crypto. 

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It's the same freaking thing, 
right? 

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And we have a chance as a 
species to move on to build 

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something. 
On top of Bitcoins to build the 

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new Financial system on top of 
Bitcoin. 

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But no, the crypto guys, 
apparently they just want to 

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continue it. 
So what are your thoughts? 

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Fill the new system a lot like 
the old system. 

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Now, I just want to point out in
the article that you just read. 

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There was something very 
important and I think out of 

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all, All of that. 
And if everything you read the 

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most important piece to me, was 
the fact that FTX was letting 

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you know, letting us know that 
they did the right thing, okay? 

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Even if it was at a loss to 
them, okay? 

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That to me right there is the 
virtue signal and I mean don't 

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get me wrong, I'm not saying 
that's like FTX is all of a 

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sudden going to go belly-up in 
like 3 months or something like 

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that. 
But it's part of a very 

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interesting story that God 
forbid they need help in a few 

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months. 
Right. 

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And they could say well listen 
you know we took this position 

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helping out blocked by little 
you know little did we know that

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it was going to affect us this 
way and of course that's just my

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opinion. 
I have no evidence of this but I

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just find it very amusing that 
that's exactly, you know, that 

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was exactly the stance that they
took and I also want to point 

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out that I think it was a Jason 
Williams. 

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Yeah. 
Because he's one of the the 

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cofounders of block fi. 
He took a very interesting soft 

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position against else. 
It's a couple of days ago in a 

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tweet, you know, explaining that
you know, he really hopes that 

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you know, somebody can help out 
Celsius and make all the Celsius

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users whole again and I'm sorry 
I wrote back and I said no I go 

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Celsius should get wrecked now 
just to expand on that right? 

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Look, nobody really nobody hopes
that somebody else loses money 

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in financial product or you know
a scam or something like that. 

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That's not the way. 
Way it is. 

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But unfortunately, right, this 
goes back to what we were 

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saying, if these companies which
are not actually providing 

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proper value, okay? 
If these companies start to 

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screw up and they start to go 
under yes, unfortunately, for 

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them, unfortunately, for the 
people that were invested in it,

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those companies, their assets 
should then be sold off. 

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Go to Stronger players and 
what's left is a carcass I'm 

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sorry and and that's, and that's
what happens. 

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I mean, this is that those are 
free market dynamics. 

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And, of course, you know, people
will always say, well, you know,

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it's easy for you to say because
you're not the one little 

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missing out on your paycheck or 
something like that. 

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I actually have been in a 
company where something like 

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this happened. 
Okay. 

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And my position was made 
irrelevant and yeah, it really 

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hurts. 
But you know what happens? 

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Take some personal 
responsibility and you say hey I

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can still do something, I can 
still provide value. 

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I'm going to go and find 
something else to do because 

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there will be another place. 
Another company that is growing 

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that will most likely need these
people's talents or their 

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capabilities and they will 
simply go to the place that 

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serves them best. 
So look, I I just I don't see 

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how all of a sudden, free market
dynamics. 

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Just no longer work anymore. 
I don't get it. 

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They've worked up. 
Until well, they've worked up 

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until now in quotations. 
But what I'm saying is that we 

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need to stop this zombification 
of our economy. 

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We do need to let the free 
market dynamics, take place 

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because we will never achieve 
any type of Freedom. 

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If we don't do this and zombie 
companies, like this are just 

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going to stick around Forever. 
This is their whole their whole 

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purpose is preserving their 
moat. 

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Anyways, just just my thoughts. 
He did. 

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Phil hate it. 
So Mark, what are your thoughts 

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on? 
I'm very curious as a 

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progressive Bitcoin or what are 
your thoughts on that? 

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00:10:15,900 --> 00:10:19,900
Do you think the bailout was 
justified or do you were, you 

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are on our camp. 
Where it's like, let the free 

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market do its thing, let this 
thing fail and From the Ashes, 

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something born in you. 
I certainly don't think that FTX

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bailed out block 5 for any. 
Altruistic Reason by any means, 

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and then they garnered something
from it. 

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Whether it's been explicitly 
stated or not. 

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So, and so to that end, I 
there's got to be some benefit 

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to them to have having done 
this, but I don't know if 

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there's necessarily A additional
Progressive angle to that, which

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to look at it. 
I just think What is block Phi 

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in my opinion. 
It's a it's a credit card 

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company at this point and we all
recall, Jason Williams tweeting 

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the photos of him. 
Earning two hundred plus 

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00:11:14,800 --> 00:11:18,600
thousand dollars in interest on 
his Bitcoin, from his deposits 

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00:11:18,600 --> 00:11:22,000
because he was depositing 
however much and how many people

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do that draw in? 
You know, we all got pulled into

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that that enticement and but 
then as the interest have come 

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down Noun 1. 
Like there's no there's no 

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00:11:36,900 --> 00:11:40,400
reason to do that to put your 
money there, your Bitcoin at is 

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00:11:41,100 --> 00:11:46,900
into I think for many people as 
they go along their Bitcoin 

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00:11:46,900 --> 00:11:51,600
Journey again the no not your 
keys, not your coins gets even 

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00:11:51,600 --> 00:11:55,800
more solidified. 
And so it's the understanding 

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00:11:55,800 --> 00:11:58,700
that one. 
I'm putting in my Bitcoin at 

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risk having it on a centralized 
exchange to it's not it's for a 

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pittance and reward and not 
worth the risk in three with 

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rehypothecation, you know, 
arguably is a downward price 

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00:12:12,800 --> 00:12:16,700
pressure. 
And all those things combined, 

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you know, I think there's been a
lot of reflection in people who 

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00:12:19,700 --> 00:12:23,100
have used block by and I've used
it, I've used their credit card,

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00:12:25,600 --> 00:12:30,100
but over time, you realize this 
thing just isn't worth it and in

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the end there's not a lot of 
value there. 

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00:12:32,800 --> 00:12:34,500
Again. 
It's a credit card company, and 

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00:12:34,500 --> 00:12:38,100
if it's given me, you know, a 
nominal, payback and Bitcoin, 

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00:12:38,100 --> 00:12:42,300
like, what are you probably 
don't deserve to survive, you 

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00:12:42,300 --> 00:12:46,500
know, you need to provide 
Provide more value than a, some 

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00:12:46,900 --> 00:12:50,000
nominal percent, back on your 
purchases and Bitcoin. 

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00:12:50,000 --> 00:12:54,500
And so I think yes there will be
a greater contagion will block 

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00:12:54,500 --> 00:12:57,900
if I go down, I don't know. 
But certainly always will, and 

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they're going to go back to the 
drawing board, and come up with 

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00:13:00,400 --> 00:13:03,500
better products, better value to
provide customers. 

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00:13:03,500 --> 00:13:08,200
And I think you're seeing, we 
already see that in in Swan and 

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in a nun chain. 
And in companies that don't 

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rehypothecation, you know, they 
have a different business model.

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All in its, it feels so much 
better more comfortable being 

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involved in those companies 
where the value is different, 

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for the end user. 
Then what block fire is offering

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what I'm getting from unchanged 
or Swan or these other companies

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00:13:29,500 --> 00:13:35,100
that are between, only is much 
more of a trustworthy experience

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00:13:35,400 --> 00:13:39,700
in a commitment to protecting my
Bitcoin. 

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Then other companies. 
In the value, there is 

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magnitudes greater in my opinion
than what, our credit card 

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00:13:48,400 --> 00:13:50,900
company can offer you 
absolutely. 

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00:13:51,400 --> 00:13:55,700
I agree with that Tom Yeah, I 
think this just takes us right 

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back to the 2008 financial 
crisis, right? 

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00:13:58,300 --> 00:14:02,500
Where it's it's incentivizing 
and rewarding and bailing out, 

242
00:14:02,600 --> 00:14:05,300
unscrupulous and risky Behavior,
right? 

243
00:14:05,300 --> 00:14:07,400
Is they did really risky 
schemes. 

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Trying to make another Buck on 
top of, you know what they're 

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00:14:10,700 --> 00:14:15,100
trying to already do and they 
they were called out, right? 

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00:14:15,100 --> 00:14:18,500
The market called them out and 
then somebody came in and bailed

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them out and said it's okay. 
You can do risky stuff, it's 

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00:14:22,300 --> 00:14:23,300
fine. 
We're just going to be right 

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00:14:23,300 --> 00:14:25,100
here for you. 
Doesn't matter what you do, 

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00:14:25,100 --> 00:14:26,800
doesn't matter who you hurt, 
right? 

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And that to me, is kind of the 
real crime here is, is it's just

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recreating the old system, 
exactly. 

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The way it works, which is why 
Bitcoin exist in the first place

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00:14:36,500 --> 00:14:40,000
is because the old system is 
criminal in a lot of ways. 

255
00:14:40,000 --> 00:14:43,000
It's you know, it's it 
incentivizes risky Behavior. 

256
00:14:43,300 --> 00:14:47,300
It incentivizes you know, poor 
choices and it bills out big 

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00:14:47,300 --> 00:14:50,700
time players that, you know, 
have cornered parts of the 

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00:14:50,700 --> 00:14:53,600
market and and take advantage of
people and it's not really 

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00:14:53,600 --> 00:14:54,200
right. 
Right. 

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00:14:55,700 --> 00:15:00,000
Absolutely, I agree. 
I think that incense is exactly 

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00:15:00,000 --> 00:15:03,800
you were spot-on. 
It incentivizes, risky behavior,

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00:15:04,100 --> 00:15:06,800
and if you bail them out, 
they're incentivized to do it 

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00:15:06,800 --> 00:15:11,700
again because they know, hey, I 
always got Sam from have TX. 

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But anyways, Phil, I was just 
going to say. 

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I think it's even a little more 
nefarious than just risky, 

266
00:15:17,900 --> 00:15:19,900
right? 
Because it's perfectly fine, 

267
00:15:19,900 --> 00:15:21,700
right? 
Because in order to, in order to

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achieve Alpha, there must be 
some risk taken but I think to 

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00:15:25,600 --> 00:15:28,000
Tom's Point like, this is, this 
is beyond risk. 

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00:15:28,000 --> 00:15:33,400
Like this is actually even 
malicious because they know or 

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00:15:33,400 --> 00:15:37,200
at least in my eyes these groups
of individuals understand that 

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00:15:37,200 --> 00:15:39,400
this is unsustainable. 
Yep. 

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00:15:39,900 --> 00:15:40,900
No it. 
Anyways that. 

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00:15:40,900 --> 00:15:44,100
Yeah, just wanted to add that. 
Oh man, it is, it's interesting 

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00:15:44,100 --> 00:15:47,700
to say the least but anyways 
Phil it's time for the Daily 

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285
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All right, guys. 
So this is episode 3 of the 

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00:16:16,800 --> 00:16:21,600
progressive case for Bitcoin. 
We say many times on the show 

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00:16:21,800 --> 00:16:25,900
that we are a political, because
Bitcoin is a political And it's 

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00:16:25,900 --> 00:16:30,100
very important to include the 
entire Community. 

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00:16:30,300 --> 00:16:33,100
Bitcoin is the most inclusive 
monetary Network. 

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00:16:33,100 --> 00:16:36,400
The world has ever seen. 
Does in the left or right. 

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00:16:36,800 --> 00:16:41,200
That's just the reality of it. 
So and we want this thing to be 

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00:16:41,200 --> 00:16:45,200
a bipartisan movement right? 
And I think it's very important 

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00:16:45,300 --> 00:16:48,100
you guys know Phil and I are 
Libertarians, right? 

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00:16:48,100 --> 00:16:53,300
So it's it's it's important for 
us that we bring progressives on

295
00:16:53,300 --> 00:16:57,200
to the show get their Has pick 
their brains a little bit to 

296
00:16:57,200 --> 00:17:00,900
kind of get their, their view of
this because that's what 

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00:17:00,900 --> 00:17:05,400
Bitcoins all about. 
So that being said, first thing 

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00:17:05,400 --> 00:17:08,800
I want to address is something 
that we covered in yesterday's 

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00:17:08,800 --> 00:17:12,800
episode where we were, highly 
critical of the likes of 

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00:17:12,800 --> 00:17:16,200
Elizabeth Warren and we've 
started to notice a very 

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00:17:16,200 --> 00:17:20,800
troubling pattern and Phil and I
are in this unique position 

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00:17:21,000 --> 00:17:24,599
where we're at would even say 
privileged position but less 

303
00:17:24,599 --> 00:17:29,600
position. 
Where we literally get paid to 

304
00:17:29,600 --> 00:17:32,200
cover the pick coin, use every 
single day. 

305
00:17:32,900 --> 00:17:36,900
And because of that, you start 
to see patterns emerge, and what

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00:17:36,900 --> 00:17:40,800
Phil, and I have noticed over 
the last year or so is a very 

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00:17:40,800 --> 00:17:44,500
troubling pattern in the 
traditional Fiat parties. 

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00:17:44,500 --> 00:17:49,200
What we've noticed is that the 
the strongest vocal opponents of

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00:17:49,200 --> 00:17:53,200
Bitcoin, and it's not black and 
white have been left wing, 

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00:17:53,200 --> 00:17:56,000
Progressive parties, all around 
the The world and that's 

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00:17:56,000 --> 00:17:58,700
something that I wanted to ask 
you guys about. 

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00:17:58,700 --> 00:18:01,700
Let me pull up some of the 
receipts so you guys know what 

313
00:18:01,700 --> 00:18:04,300
I'm talking about. 
Let me pull this up. 

314
00:18:04,600 --> 00:18:10,000
This is a letter from Elizabeth 
Warren, Tina, Smith job, Jeff 

315
00:18:10,000 --> 00:18:15,100
Merkley, Ed Markley, criticizing
Bitcoins, proof-of-work. 

316
00:18:15,600 --> 00:18:20,000
This is the infamous Huffman 
letter that our friends at the 

317
00:18:20,008 --> 00:18:24,600
Bitcoin policy Institute, wrote 
a beautiful rebuttal to and the 

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00:18:24,600 --> 00:18:29,300
Huffman Here, it's all left-wing
politicians in there, 

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00:18:29,400 --> 00:18:34,000
unfortunately. 
And the infamous Norway, the 

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00:18:34,000 --> 00:18:38,100
Norwegian case, because with 
those cases, you could have made

321
00:18:38,100 --> 00:18:41,000
the argument that listen, they 
were concerned about the 

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00:18:41,000 --> 00:18:43,400
environment, right? 
And you could make that argument

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00:18:43,400 --> 00:18:45,500
and I'm still on the fence about
that. 

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00:18:45,600 --> 00:18:49,100
But the reason that I bring up 
the new region case is because 

325
00:18:49,100 --> 00:18:53,000
here in Norway specifically, I'm
not going to read this because I

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00:18:53,000 --> 00:18:56,600
read it yesterday in Norway. 
For audio listeners. 

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00:18:57,200 --> 00:19:00,400
Electricity 98 percent of 
electricity is generated by 

328
00:19:00,400 --> 00:19:05,500
renewable energies and a hundred
percent of the energy used for 

329
00:19:05,500 --> 00:19:10,100
Bitcoin mining. 
Comes from renewable energies. 

330
00:19:10,100 --> 00:19:14,200
But Norway's left-leaning 
parties, including the Socialist

331
00:19:14,200 --> 00:19:19,100
left party, the red party, and 
the green party still wanted to 

332
00:19:19,100 --> 00:19:22,300
ban Bitcoin mining. 
But if it's about the 

333
00:19:22,300 --> 00:19:26,200
environment, why is why did they
still want to buy an it if it 

334
00:19:26,200 --> 00:19:31,100
came from 100% renewable energy.
So again, it's not black and 

335
00:19:31,100 --> 00:19:33,900
white, there are right-leaning 
candidates that are against 

336
00:19:33,900 --> 00:19:36,500
Bitcoin and there are left 
leading candidates that are for 

337
00:19:36,500 --> 00:19:39,300
Bitcoin senator. 
Brand signed up to the 

338
00:19:39,300 --> 00:19:42,100
bipartisan crypto bill with 
Senator Cynthia, lummis. 

339
00:19:42,100 --> 00:19:44,600
So I don't want you guys to 
think it's black and white but 

340
00:19:44,600 --> 00:19:47,200
clearly there's a pattern here 
and this is something what we 

341
00:19:47,200 --> 00:19:53,800
talked in yesterday's episode. 
So guys, why why are progressive

342
00:19:53,800 --> 00:19:57,000
politicians fighting so hard 
against Bitcoin? 

343
00:19:57,200 --> 00:19:59,700
And could you guys explain the 
Norway thing? 

344
00:19:59,700 --> 00:20:01,800
Because for me, for us, it's 
puzzling. 

345
00:20:01,900 --> 00:20:04,400
What's going on there? 
Mark, you want to go see want to

346
00:20:04,408 --> 00:20:06,200
start first? 
Sure. 

347
00:20:06,300 --> 00:20:09,700
So your question, Is why our 
Progressive politics? 

348
00:20:09,700 --> 00:20:14,300
Why are left-leaning politicians
against Bitcoin in general? 

349
00:20:14,400 --> 00:20:20,100
Why are, why does it seem why 
does it seem like there's more, 

350
00:20:20,800 --> 00:20:24,100
you know, Progressive or 
left-leaning politicians that 

351
00:20:24,400 --> 00:20:26,700
are against Bitcoin? 
Like why does it seem this way? 

352
00:20:27,500 --> 00:20:29,300
I don't think it seemed. 
I think they are. 

353
00:20:29,300 --> 00:20:31,000
I think that's fair to, I was 
just trying to be. 

354
00:20:31,000 --> 00:20:34,500
I've got to be, you know, a 
little objective and nice about 

355
00:20:34,500 --> 00:20:37,800
it, but I appreciate that. 
In. 

356
00:20:37,800 --> 00:20:39,400
I think the answer is pretty 
straightforward. 

357
00:20:39,400 --> 00:20:44,900
I don't think there's any Grand 
answer there. 

358
00:20:45,000 --> 00:20:50,000
It's probably twofold one. 
We know there's no secret that 

359
00:20:50,800 --> 00:20:53,900
the left as much as the right 
are involved with incumbent 

360
00:20:53,900 --> 00:20:58,800
Industries and you know they're 
funded by the left is funded by 

361
00:20:58,800 --> 00:21:02,600
Bank in as much as the right and
they protect a Wall Street as 

362
00:21:02,600 --> 00:21:05,800
much as the ride and all that. 
So that is is what it is. 

363
00:21:05,800 --> 00:21:10,800
And so They're protecting 
incumbent Industries to the 

364
00:21:10,800 --> 00:21:16,100
constituents are behind it yet. 
And and so, I think it's in a 

365
00:21:16,100 --> 00:21:22,000
way, a lose-lose situation for 
most democratic politicians to 

366
00:21:22,008 --> 00:21:30,000
come out in favor of Bitcoin 
crypto a large because because 

367
00:21:30,000 --> 00:21:35,200
of those two reasons Don't push 
back on the first answer, right?

368
00:21:35,800 --> 00:21:39,500
Why is the right? 
If it's funded by Wall Street, 

369
00:21:39,500 --> 00:21:41,900
it's funded by incumbent 
Industries. 

370
00:21:41,900 --> 00:21:45,900
Like you said, why are they 
embracing it more than the left?

371
00:21:45,900 --> 00:21:51,500
What is going on? 
Because that's the right again. 

372
00:21:51,500 --> 00:21:56,000
Generally speaking is more 
associated with citing if you 

373
00:21:56,000 --> 00:22:01,500
will with banking industry and 
with Wall Street and so that 

374
00:22:01,500 --> 00:22:09,300
perspective is less maligned by 
conservatives again generally 

375
00:22:09,300 --> 00:22:13,100
speaking. 
And so it's assumed to be a part

376
00:22:13,100 --> 00:22:15,700
of the narrative. 
In addition, I think you also 

377
00:22:15,700 --> 00:22:20,000
have a broader support from 
constituents That makes sense. 

378
00:22:20,900 --> 00:22:26,300
Gotcha, okay. 
So let's now that we've 

379
00:22:26,300 --> 00:22:29,400
addressed that because I wanted 
I wanted to wanted you guys say,

380
00:22:29,400 --> 00:22:30,600
tell him. 
Do you want to answer that 

381
00:22:30,600 --> 00:22:32,700
question before we move on? 
Sure. 

382
00:22:32,700 --> 00:22:37,800
I guess, you know I think there 
is a certain amount of number 

383
00:22:37,800 --> 00:22:42,700
one the Democratic party is not 
really a left party, right? 

384
00:22:42,700 --> 00:22:45,400
It's really a center sort of 
right party. 

385
00:22:46,000 --> 00:22:48,200
They're very tight in, like Mark
said, well, you know, with bank,

386
00:22:48,400 --> 00:22:52,200
Making and with corporations and
so they're not really a left 

387
00:22:52,200 --> 00:22:54,700
party. 
And I really think first off the

388
00:22:54,800 --> 00:22:57,100
progressives who are out there 
on the ground, right? 

389
00:22:57,100 --> 00:23:01,100
For example, there's a candidate
who just lost her regard, her 

390
00:23:01,400 --> 00:23:05,200
runoff election in Texas, 
Jessica Cisneros, and she's a 

391
00:23:05,200 --> 00:23:09,800
Grassroots funded, really like 
actual left-leaning candidate. 

392
00:23:09,800 --> 00:23:13,000
And she was crushed by the 
Democratic party because they 

393
00:23:13,000 --> 00:23:18,700
wanted to keep their 
pro-abortion Pro, you know, Kind

394
00:23:18,700 --> 00:23:22,700
of Second Amendment person in 
that seat and they went, and 

395
00:23:22,700 --> 00:23:24,800
they put a bunch of money 
towards him and he won. 

396
00:23:25,300 --> 00:23:28,600
And so, in most cases, they're 
the Democratic party actually 

397
00:23:28,600 --> 00:23:30,500
crushes. 
The left, they crushed 

398
00:23:30,500 --> 00:23:33,200
progressives and they prevent 
them from getting in and only in

399
00:23:33,200 --> 00:23:36,000
rare circumstances to real 
progressives actually get into 

400
00:23:36,300 --> 00:23:38,000
positions of power in the 
Democratic party. 

401
00:23:38,600 --> 00:23:42,500
But I think there's also a 
certain amount of, you know. 

402
00:23:42,900 --> 00:23:46,300
Wow, I hear Democrats hate this,
it must be good. 

403
00:23:46,600 --> 00:23:49,400
And, or it must be, I want to 
Embrace this because it's the 

404
00:23:49,400 --> 00:23:52,800
other side of the issue, right? 
And I think you see that with, 

405
00:23:52,900 --> 00:23:55,700
you know, Senator Obama's is a 
good example of that, right 

406
00:23:55,700 --> 00:23:58,500
where she isn't just I'm a 
full-on Bitcoin or because I 

407
00:23:58,508 --> 00:24:02,400
believe in the system she's kind
of more Pro crypto broadly 

408
00:24:02,500 --> 00:24:04,400
right. 
She's definitely kind of trying 

409
00:24:04,400 --> 00:24:07,000
to embrace that side of it. 
Ted Cruz I think is kind of 

410
00:24:07,000 --> 00:24:09,400
similar type who seems to kind 
of understand what's going on 

411
00:24:09,400 --> 00:24:12,000
for the most part. 
But he absolutely is against the

412
00:24:12,000 --> 00:24:16,000
Democrats, I think, more than 
he's four things overall in many

413
00:24:16,000 --> 00:24:19,800
situations that make sense. 
So Okay, so let's back up. 

414
00:24:19,800 --> 00:24:21,200
Phil we're going to do a round 
table. 

415
00:24:21,300 --> 00:24:23,200
I'm not going to read any 
articles, we're going to have a 

416
00:24:23,208 --> 00:24:24,600
discussion. 
Okay? 

417
00:24:24,600 --> 00:24:27,800
So the reason that we started 
this series, the progressive 

418
00:24:27,800 --> 00:24:31,900
case for Bitcoin is because from
my perspective right? 

419
00:24:32,900 --> 00:24:37,600
A lot of the progressive causes 
specifically medicare-for-all 

420
00:24:38,200 --> 00:24:41,800
wealth, redistribution, they all
require coercion, right? 

421
00:24:41,800 --> 00:24:46,200
They all require some type of 
because at the end of the day, 

422
00:24:46,200 --> 00:24:48,600
right? 
It's a lot easier to well. 03 

423
00:24:48,600 --> 00:24:51,900
distribute, especially in the 
traditional system, right? 

424
00:24:51,900 --> 00:24:54,700
But if everyone is holding their
own keys, right? 

425
00:24:54,700 --> 00:24:57,000
That kind of changes the 
Dynamics of it, right? 

426
00:24:57,000 --> 00:25:00,600
And not to mention the current 
taxing system, the way it 

427
00:25:00,600 --> 00:25:03,100
functions. 
So what would you say to that? 

428
00:25:03,100 --> 00:25:05,400
That how would you have a 
system? 

429
00:25:06,200 --> 00:25:10,100
How would you support a lot of 
these Progressive causes without

430
00:25:10,100 --> 00:25:13,200
using coercion? 
Because if it's up to, you know,

431
00:25:13,200 --> 00:25:16,900
voluntary measures, you're going
to have half of people saying, I

432
00:25:16,900 --> 00:25:18,200
just don't want to partake in 
that. 

433
00:25:18,600 --> 00:25:20,100
How does that work? 
I'll go ahead and jump in if 

434
00:25:20,100 --> 00:25:24,100
that's okay. 
I think number one as far as 

435
00:25:24,100 --> 00:25:27,900
wealth to be just abusin goes. 
I watched the episode y'all did 

436
00:25:27,900 --> 00:25:31,900
a few weeks ago with gin and 
fumble and I'm going to repeat 

437
00:25:31,900 --> 00:25:34,200
probably some of the things that
Jin said because I think they're

438
00:25:34,200 --> 00:25:38,600
really, you know, spot on for 
this particular thing right now,

439
00:25:38,600 --> 00:25:40,800
there's wealth redistribution 
up, right? 

440
00:25:40,800 --> 00:25:43,800
It's all going up, that's what 
happened during the pandemic, 

441
00:25:43,900 --> 00:25:45,800
right? 
You saw, you know, basically a 

442
00:25:45,800 --> 00:25:48,600
four trillion dollar increase in
the wealth of the wealthiest And

443
00:25:48,600 --> 00:25:51,100
you see a four trillion dollar 
decrease in the wealth of the 

444
00:25:51,100 --> 00:25:53,200
poorest. 
That is wealth redistribution 

445
00:25:53,200 --> 00:25:55,200
up. 
So just eliminating some of 

446
00:25:55,200 --> 00:25:58,500
those mechanisms that create 
that with the Fiat money, the 

447
00:25:58,500 --> 00:26:01,600
way that it's basically handed 
out for free to really wealthy 

448
00:26:01,600 --> 00:26:03,500
people. 
Then they raise prices on things

449
00:26:03,500 --> 00:26:06,100
they buy assets, right? 
This is wealth redistribution 

450
00:26:06,100 --> 00:26:08,900
up, just a limiting that 
mechanism is wealth 

451
00:26:08,900 --> 00:26:12,500
redistribution in and of itself.
And so that is a redistribution 

452
00:26:12,500 --> 00:26:14,900
down, that's non-coercive, 
right? 

453
00:26:14,900 --> 00:26:17,600
In fact, you're you're getting 
rid of the coercion so that 

454
00:26:17,600 --> 00:26:21,900
people have the The actual 
ability to earn in a respectable

455
00:26:21,900 --> 00:26:25,600
way, they can, you know, prices 
can be set more reasonably as 

456
00:26:25,600 --> 00:26:28,600
opposed to being mandated by you
know a few people at the top 

457
00:26:28,600 --> 00:26:32,400
right now. 
And as far as Medicare for all 

458
00:26:32,400 --> 00:26:36,100
the kind of my approach to the 
progressive case, for Bitcoin is

459
00:26:36,100 --> 00:26:41,400
that The goal is for everybody 
to have health care. 

460
00:26:41,800 --> 00:26:45,800
The goal is for people to have a
living wage and not be 

461
00:26:45,800 --> 00:26:49,600
struggling. 
The goal is for people to be 

462
00:26:49,600 --> 00:26:53,000
judged equally by the law in 
every situation. 

463
00:26:53,400 --> 00:26:57,900
And so the mechanism is that 
people put forth like Medicare 

464
00:26:57,900 --> 00:27:02,300
for all or the green New Deal 
to, you know, to try to enhance 

465
00:27:02,300 --> 00:27:05,700
renewable energy infrastructure.
This is the mechanism that they 

466
00:27:05,700 --> 00:27:07,700
think is the right thing. 
I don't know. 

467
00:27:07,700 --> 00:27:09,500
I really think it's the right 
thing at this point. 

468
00:27:09,500 --> 00:27:12,400
I think, if you get rid of some 
of these, you know, wealth 

469
00:27:12,400 --> 00:27:16,800
redistribution up and kind of 
top-down ways of doing things, 

470
00:27:17,000 --> 00:27:19,300
you would actually have these 
things occur, right? 

471
00:27:19,500 --> 00:27:22,300
If people could take care of 
each other and not have to just 

472
00:27:22,300 --> 00:27:24,400
work all the time, just to take 
care of themselves and that's 

473
00:27:24,400 --> 00:27:27,900
it, they wouldn't need a 
national system of healthcare 

474
00:27:27,900 --> 00:27:30,700
for that to happen, but you 
could organize communities to 

475
00:27:30,700 --> 00:27:33,600
take care of each other and 
you'd have the ability to do 

476
00:27:33,600 --> 00:27:35,400
that. 
If you weren't always being kind

477
00:27:35,400 --> 00:27:38,900
of Zapped of all your money to 
the top, that's kind of my 

478
00:27:38,900 --> 00:27:41,400
thing. 
I just want to, I'm sorry, I 

479
00:27:41,400 --> 00:27:45,000
just want to add to what Tom is 
saying, because my wife is a 

480
00:27:45,000 --> 00:27:48,300
social worker, we were 
originally, she was a social 

481
00:27:48,300 --> 00:27:50,100
worker in Massachusetts or tax 
statutes. 

482
00:27:50,100 --> 00:27:53,700
'It's however you want to call 
it, but I just want to make a 

483
00:27:53,700 --> 00:27:56,600
point about the the rail, the 
wealth distribution to the 

484
00:27:56,600 --> 00:27:59,900
upside because I don't disagree 
with you in terms of that quote,

485
00:27:59,900 --> 00:28:03,300
unquote, in terms of that market
effect. 

486
00:28:03,400 --> 00:28:09,400
But I think what's maybe not 
necessarily But what's not paid 

487
00:28:09,400 --> 00:28:13,100
attention to is that. 
So because my wife was a social 

488
00:28:13,100 --> 00:28:19,300
worker, I had some access to not
necessarily information, but the

489
00:28:19,300 --> 00:28:22,100
types of situations and 
struggles, that the people who 

490
00:28:22,100 --> 00:28:25,800
don't have anything go through, 
and I can tell you this, okay, 

491
00:28:25,800 --> 00:28:29,100
the wealth distribution, the 
wealth redistribution, indeed, 

492
00:28:29,100 --> 00:28:32,600
the rich get richer, but I can 
tell you for a fact that the 

493
00:28:32,600 --> 00:28:36,000
people who have nothing get 
increasingly more services and 

494
00:28:36,000 --> 00:28:39,300
unfortunately not saying that At
every this happens to everybody 

495
00:28:39,300 --> 00:28:42,000
but there is a large portion of 
those people that become 

496
00:28:42,000 --> 00:28:46,400
entitled and simply become 
unfortunately mooches on 

497
00:28:46,400 --> 00:28:48,700
society. 
And if you take a look at who's 

498
00:28:48,700 --> 00:28:53,000
actually being squeezed in this 
whole situation, it's the most 

499
00:28:53,000 --> 00:28:57,000
productive class that is being 
wiped out, which is the middle 

500
00:28:57,000 --> 00:29:02,700
class because the middle class 
gets limited benefits from what 

501
00:29:02,700 --> 00:29:07,100
is offered to the poor and does 
not get the entire benefits 

502
00:29:07,300 --> 00:29:09,700
offered. 
The, you know that the rich end 

503
00:29:09,700 --> 00:29:12,400
up gaining. 
So I think for me what this 

504
00:29:12,400 --> 00:29:15,600
becomes because I hate I and I 
know I'm not going to change the

505
00:29:15,600 --> 00:29:19,000
reality for everyone but all of 
this left, right? 

506
00:29:19,000 --> 00:29:21,100
And all of this stuff, this is 
this is all bullshit. 

507
00:29:21,300 --> 00:29:24,400
All it is at the end of the day 
is that there are people who are

508
00:29:24,400 --> 00:29:27,800
for wealth redistribution 
regardless of where it goes and 

509
00:29:27,800 --> 00:29:30,300
they're all about the money 
printer because they can quote 

510
00:29:30,300 --> 00:29:32,600
unquote, fix all the issues that
they want. 

511
00:29:32,600 --> 00:29:35,200
And then there's other people 
who are proponents of a free 

512
00:29:35,200 --> 00:29:38,700
market who understand that. 
Health care for everyone is 

513
00:29:38,700 --> 00:29:44,300
going to be incredibly difficult
to do in terms of if you're not 

514
00:29:45,000 --> 00:29:48,000
taking away, everybody's money 
in order to fund it. 

515
00:29:48,000 --> 00:29:50,100
So, it becomes a very difficult 
task. 

516
00:29:50,100 --> 00:29:52,000
It doesn't mean it can't be 
done. 

517
00:29:52,400 --> 00:29:56,200
It just means that we are going 
to have to work really hard to 

518
00:29:56,200 --> 00:29:59,800
actually have a valuable 
solution that a works for its 

519
00:29:59,800 --> 00:30:02,900
constituents and be works for 
the corporations that are 

520
00:30:02,900 --> 00:30:05,800
offering these services. 
But the problem is, we've never 

521
00:30:05,800 --> 00:30:10,100
had a proper free market. 
Dynamic in order to actually 

522
00:30:10,100 --> 00:30:12,600
play this out anyway. 
Sorry amigo, but that's the kind

523
00:30:12,600 --> 00:30:15,400
I think that's the case that Tom
was making right here. 

524
00:30:15,400 --> 00:30:19,600
Is that if we get rid of the to 
use your words which I think you

525
00:30:19,600 --> 00:30:23,500
beautifully, put it, by the way,
the wealth redistribution that 

526
00:30:23,500 --> 00:30:26,600
occurs in the Fiat system which 
is in my opinion. 

527
00:30:26,600 --> 00:30:30,800
It's like the most, the worst 
tax ever exist that he ever 

528
00:30:30,800 --> 00:30:34,000
existed in the history of 
mankind, it's a tragedy. 

529
00:30:34,000 --> 00:30:36,700
Every time they print money 
steals from the poor, and the 

530
00:30:36,700 --> 00:30:40,800
middle class that Have the means
to save in real estate and 

531
00:30:40,800 --> 00:30:44,400
equities that benefit from asset
inflation every time they pin 

532
00:30:44,400 --> 00:30:46,900
they print and it's a wealth 
redistribution from the poor 

533
00:30:46,900 --> 00:30:50,200
middle to the upper and the 
government which is absolutely 

534
00:30:50,200 --> 00:30:52,300
terrible. 
But the case that you're making 

535
00:30:52,300 --> 00:30:54,800
which is fascinating to me it 
sounds like you want the free 

536
00:30:54,800 --> 00:30:57,200
market to do its thing. 
That's that's that's that's the 

537
00:30:57,200 --> 00:31:02,200
that's the that's the vibe that 
I got from you where it's like 

538
00:31:02,200 --> 00:31:05,600
you're making the argument that 
if everybody if you pulled out 

539
00:31:05,600 --> 00:31:09,600
that mechanism and I had more 
money right. 

540
00:31:09,600 --> 00:31:12,100
There would be more in. 
There would be more nut money 

541
00:31:12,100 --> 00:31:15,500
enough to go around to 
voluntarily have health care. 

542
00:31:15,500 --> 00:31:16,900
Is that the argument that you're
making? 

543
00:31:17,300 --> 00:31:19,300
Yeah, basically, that's kind of 
how I would put it. 

544
00:31:19,300 --> 00:31:22,300
I mean, this is not health care,
but as an example, okay, that's 

545
00:31:22,300 --> 00:31:22,700
it. 
Exactly. 

546
00:31:22,800 --> 00:31:24,900
I'm just using that as an 
example because that's the, 

547
00:31:24,900 --> 00:31:27,100
that's the one everyone talks 
about, you know, persons like 

548
00:31:27,100 --> 00:31:29,500
healthcare for all. 
No free market, you know, that's

549
00:31:29,500 --> 00:31:31,800
why I'm bringing it up. 
Look, what just happened in 

550
00:31:31,800 --> 00:31:34,200
Texas with the school shooting, 
okay. 

551
00:31:34,700 --> 00:31:37,500
People were trying to go in 
there and protect those people. 

552
00:31:37,700 --> 00:31:41,200
Oil, but they, the state stop 
them from doing that. 

553
00:31:41,600 --> 00:31:43,900
And they caused this thing to 
occur. 

554
00:31:43,900 --> 00:31:47,200
What I've made my point in that 
is that they have a monopoly on 

555
00:31:47,200 --> 00:31:50,800
this way of doing things. 
They have all the resources, the

556
00:31:50,800 --> 00:31:55,100
police take up tons and tons of 
resources just like, kind of big

557
00:31:55,100 --> 00:31:57,900
bureaucratic programs take up 
tons and tons of resources, 

558
00:31:58,200 --> 00:31:59,800
right? 
And if you were able to 

559
00:32:00,100 --> 00:32:03,500
basically eliminate those 
programs and eliminate that 

560
00:32:03,500 --> 00:32:07,200
funding in a very narrow way to 
a much more broad set of 

561
00:32:07,200 --> 00:32:09,400
resources. 
Is that people could actually 

562
00:32:09,400 --> 00:32:12,300
Implement in their own lives, 
then they would be able to take 

563
00:32:12,300 --> 00:32:16,200
care of each other and not have 
to be taken care of in every 

564
00:32:16,200 --> 00:32:18,200
situation. 
Yeah, I agree. 

565
00:32:18,200 --> 00:32:20,000
Mark. 
Love to get your thoughts my 

566
00:32:20,000 --> 00:32:23,600
friend. 
Yeah, so many we touched on very

567
00:32:24,000 --> 00:32:29,800
complex, topics there, which 
ultimately is a big part of the 

568
00:32:29,800 --> 00:32:31,100
discussion. 
That's complexity. 

569
00:32:31,600 --> 00:32:35,100
And what we are failing to see 
what we are seeing is the 

570
00:32:35,100 --> 00:32:39,700
failure of centralized. 
Seems to be able to handle 

571
00:32:39,800 --> 00:32:45,700
complex systems and so my whole 
the whole point of the podcast 

572
00:32:45,700 --> 00:32:50,500
is not to push some ideological 
political agenda whatsoever. 

573
00:32:50,500 --> 00:32:54,900
But rather is my opinion, it's 
the Tom's opinion and others 

574
00:32:54,900 --> 00:33:00,400
that Bitcoin can help the most 
for those people who need it. 

575
00:33:00,400 --> 00:33:04,700
The most meaning, the people who
are most disenfranchised, the 

576
00:33:04,700 --> 00:33:10,700
people whose savings and wealth.
An eroded over the past Century.

577
00:33:11,000 --> 00:33:13,000
And so it's certainly my 
opinion. 

578
00:33:13,000 --> 00:33:16,700
That that's where Bitcoin can 
help the, most are those 

579
00:33:16,700 --> 00:33:20,500
individuals. 
We actually that we dedicate a 

580
00:33:20,508 --> 00:33:27,700
large good amount of episodes to
covering Venezuelans Cubans 

581
00:33:27,700 --> 00:33:29,800
Afghan. 
He's right that have been 

582
00:33:29,800 --> 00:33:33,200
completely disenfranchised 
because the US has weaponized 

583
00:33:33,200 --> 00:33:36,600
the dollar as taken them out of 
the Global Financial system. 

584
00:33:36,900 --> 00:33:38,900
And it's Awful. 
Well it's not beautiful their 

585
00:33:38,900 --> 00:33:42,000
situation but it's beautiful to 
the fact that when everything 

586
00:33:42,000 --> 00:33:44,800
else fails Bitcoin still there 
and stable coins so give them 

587
00:33:44,800 --> 00:33:47,700
credit even though they pulse 
they they provide a false 

588
00:33:47,700 --> 00:33:51,100
illusion of sovereignty. 
But yeah. 

589
00:33:51,100 --> 00:33:54,800
It sounds like honestly Tom and 
Mark. 

590
00:33:54,800 --> 00:33:56,500
We have a lot of things 
incompetent. 

591
00:33:58,400 --> 00:34:03,100
Amico, that's a Bitcoin though. 
Bingo no it exactly. 

592
00:34:03,200 --> 00:34:08,800
I mean that's my Lofty dream. 
Is that, for the first time 

593
00:34:08,900 --> 00:34:13,500
arguably in history, you've got 
this one thing. 

594
00:34:14,699 --> 00:34:18,400
That we all for the most part, 
unless you're a chart a list or 

595
00:34:18,400 --> 00:34:24,400
enough authoritarian you can 
find benefit in, you can find 

596
00:34:24,400 --> 00:34:30,500
something good in which is more 
than you could say about any 

597
00:34:30,500 --> 00:34:35,300
political system or any sports 
team or any religion, Bitcoin 

598
00:34:35,300 --> 00:34:42,800
can cross all boundaries 
worldwide in that to me is the 

599
00:34:42,800 --> 00:34:47,199
most beautiful. 
And that's my, you know, hope 

600
00:34:47,199 --> 00:34:50,800
for the the distant future is 
that it can be a uniting force 

601
00:34:50,800 --> 00:34:57,400
in that manner where we can, we 
can see that in each other, 

602
00:34:57,400 --> 00:35:01,000
right? 
You you find Value in Bitcoin in

603
00:35:01,000 --> 00:35:04,300
there for? 
You have that coming out, you 

604
00:35:04,300 --> 00:35:06,500
have that bridge. 
You have that touch point with 

605
00:35:06,500 --> 00:35:08,700
other individuals who may not, 
otherwise agree with. 

606
00:35:08,700 --> 00:35:11,800
Yeah, yeah, I think that's 
beautifully. 

607
00:35:11,800 --> 00:35:17,200
Put and it was something that 
That I said at the end of the, 

608
00:35:17,500 --> 00:35:22,600
when Jim came on the show, I 
think that fixing the money just

609
00:35:22,600 --> 00:35:29,400
fixing the money is we're going 
to agree on 95.9 99.99% of 

610
00:35:29,400 --> 00:35:32,100
issues but I think that we're so
divided. 

611
00:35:32,100 --> 00:35:35,000
I mean I think it's honestly for
the benefit of the political 

612
00:35:35,000 --> 00:35:37,800
parties because it's a lot 
easier that's a responsibility. 

613
00:35:37,900 --> 00:35:40,600
It's like it's the other it's 
the Republicans know, it's the 

614
00:35:40,600 --> 00:35:42,700
Democrats, you know? 
It's like it's the other guys, 

615
00:35:42,700 --> 00:35:45,700
it's not us. 
So yeah, it's a lot easier to 

616
00:35:45,700 --> 00:35:47,800
blame other people than to take 
responsibility. 

617
00:35:47,800 --> 00:35:52,000
And I think that a lot of the 
suffering poverty, I would even 

618
00:35:52,000 --> 00:35:56,100
make the case that a lot of the 
social issues that, you know, 

619
00:35:56,100 --> 00:35:59,600
the country is experiencing, I 
think that the root cause of a 

620
00:35:59,600 --> 00:36:02,500
lot of these problems is the 
fact that the money is broken. 

621
00:36:02,500 --> 00:36:07,500
Like, I think it's causing so 
many of these problems and the 

622
00:36:07,500 --> 00:36:11,600
government specifically 
nation-states their go-to move 

623
00:36:11,600 --> 00:36:13,500
is just divide and conquer, 
right? 

624
00:36:13,500 --> 00:36:15,100
It. 
Oh, it's the Other guys it's the

625
00:36:15,100 --> 00:36:17,100
other guys and then you have 
this hatred. 

626
00:36:17,400 --> 00:36:20,600
But when as soon as you turn off
the Legacy mainstream media 

627
00:36:20,600 --> 00:36:24,500
sources he find that you have a 
lot more in common with these 

628
00:36:24,500 --> 00:36:26,700
people than you thought that you
did it. 

629
00:36:26,800 --> 00:36:31,000
So Phil, yeah, there's just a 
lot of gas lighting and 

630
00:36:31,000 --> 00:36:33,100
end-to-end to Mark's point, 
right? 

631
00:36:33,100 --> 00:36:35,800
The it's all about, it's all 
about the shelling point. 

632
00:36:35,800 --> 00:36:38,800
And this is something that I 
learned about Bitcoin very early

633
00:36:38,800 --> 00:36:41,700
on there was a really 
interesting podcast. 

634
00:36:42,100 --> 00:36:44,300
Once Upon a Time with Pierre, 
Richard, he's been on so many. 

635
00:36:44,400 --> 00:36:46,800
So good luck to somebody trying 
to figure out which one it was, 

636
00:36:46,800 --> 00:36:52,700
but he made an amazing argument 
for the shelling point of 

637
00:36:52,700 --> 00:36:55,500
Bitcoin. 
And I believe that that's really

638
00:36:55,500 --> 00:36:58,100
what we need because you see the
money. 

639
00:36:58,100 --> 00:37:00,900
The money is our language. 
The money is the way that we 

640
00:37:00,900 --> 00:37:03,600
convey value. 
So with every single or if a 

641
00:37:03,600 --> 00:37:07,700
large majority of us can agree 
on the quality of the money that

642
00:37:07,700 --> 00:37:11,600
we need to have and that we need
to use to your point. 

643
00:37:11,600 --> 00:37:15,700
We I think that we're going to 
be able to to come to the table 

644
00:37:15,700 --> 00:37:20,500
and actually come up with proper
Solutions rather than these 

645
00:37:20,500 --> 00:37:25,300
really easy solutions that are 
easy on the short-term but very 

646
00:37:25,300 --> 00:37:28,200
painful as we can see on the 
long term, okay? 

647
00:37:28,200 --> 00:37:31,700
Because think about it, all of 
these easy solutions is why 

648
00:37:31,700 --> 00:37:34,900
we're sitting here having these 
conversations today. 

649
00:37:35,100 --> 00:37:37,300
These easy solutions is what 
made it. 

650
00:37:37,300 --> 00:37:41,300
So the Gen xers were the first 
ones to earn less and have less 

651
00:37:41,300 --> 00:37:43,000
purchasing power than their 
parents. 

652
00:37:43,600 --> 00:37:46,400
And, and them Daniel's are hit 
even worse than the Zoomers are 

653
00:37:46,400 --> 00:37:51,000
hit even worse than them. 
So I mean look this is what we 

654
00:37:51,000 --> 00:37:56,500
are having is the the 
trickle-down waterfall effect of

655
00:37:56,500 --> 00:38:01,000
poor financial decisions. 
Yep and look, now we have to 

656
00:38:01,000 --> 00:38:04,000
have this discussion now. 
Bitcoin had to exist, right? 

657
00:38:04,000 --> 00:38:05,700
If there wasn't like the other 
piece that people don't 

658
00:38:05,700 --> 00:38:09,000
understand, is if we didn't have
garbage money, we wouldn't 

659
00:38:09,000 --> 00:38:12,900
actually need Bitcoin. 
That's the, you know, Bitcoin 

660
00:38:12,900 --> 00:38:16,800
was the answer to A problem. 
And now we all have to kind of 

661
00:38:16,800 --> 00:38:20,100
look past our walls, right? 
We have to look past our, you 

662
00:38:20,100 --> 00:38:22,600
know, red and blue and all these
different walls that we've 

663
00:38:22,600 --> 00:38:26,300
created and we kind of have to 
all come together and say 

664
00:38:26,300 --> 00:38:28,400
alright we accept this shelling 
point. 

665
00:38:28,500 --> 00:38:31,800
Where do we go from here? 
So something that you said 

666
00:38:32,100 --> 00:38:37,200
earlier, mark, it sounds like 
your podcast is more interested 

667
00:38:37,700 --> 00:38:41,500
in the inclusivity aspect, 
right? 

668
00:38:42,000 --> 00:38:46,800
You know, forgetting do Forget 
the underdog in society and 

669
00:38:46,800 --> 00:38:49,200
that's something that we cover 
tremendously on this show 

670
00:38:49,200 --> 00:38:51,800
because I think that's one of 
the best features of Bitcoin, 

671
00:38:51,800 --> 00:38:54,800
right? 
Let me ask you something. 

672
00:38:54,800 --> 00:38:56,400
Do you believe in the free 
market? 

673
00:38:56,400 --> 00:38:59,100
Do you believe in capitalism so 
to speak? 

674
00:38:59,100 --> 00:39:01,100
Or what are your thoughts on 
that? 

675
00:39:01,900 --> 00:39:03,800
Of course I do. 
I believe in whatever the best 

676
00:39:03,800 --> 00:39:10,500
solution is to a problem and The
problem with that perspective is

677
00:39:12,900 --> 00:39:18,300
we don't often get the ability 
to know whether or not a 

678
00:39:18,300 --> 00:39:23,600
centralized solution is in fact 
the most efficacious, that's one

679
00:39:23,600 --> 00:39:29,200
of as I've gotten older here 
and, you know, initially, of 

680
00:39:29,200 --> 00:39:31,300
course, being more left-leaning,
I believe that a lot of these 

681
00:39:31,300 --> 00:39:34,300
problems could be solved from a 
more centralized Authority. 

682
00:39:35,000 --> 00:39:38,100
But over time, I've recognized 
that that is not It is less 

683
00:39:38,100 --> 00:39:41,800
likely to happen again for 
again, not only the complexity 

684
00:39:41,800 --> 00:39:48,300
issue, but also because there's 
no, there's no testing of 

685
00:39:48,300 --> 00:39:51,600
hypotheses. 
I'm a physician, I believe in 

686
00:39:51,600 --> 00:39:57,100
the ability to test change, 
your, your, your perspective 

687
00:39:57,100 --> 00:40:01,100
based upon that data. 
And as the data changes, your 

688
00:40:01,100 --> 00:40:03,400
intervention should change, 
right? 

689
00:40:03,500 --> 00:40:07,500
But there's some adage and in 
politics, I want, you know. 

690
00:40:07,600 --> 00:40:09,500
A law is implemented. 
It's never going away. 

691
00:40:09,500 --> 00:40:14,400
So, even terrible laws that are 
still, there's regulations, they

692
00:40:14,400 --> 00:40:16,500
don't get pulled back. 
Right. 

693
00:40:16,900 --> 00:40:20,500
And so again, I'm most 
interested in what is going to 

694
00:40:20,508 --> 00:40:25,400
be the most efficacious solution
to Any Given problem whether 

695
00:40:25,400 --> 00:40:31,000
that whether or not that is from
a government or the free market.

696
00:40:31,800 --> 00:40:37,300
So, the the way that I see it is
that the government is 

697
00:40:37,300 --> 00:40:40,000
inefficient and the what you 
said about the laws is because 

698
00:40:40,000 --> 00:40:42,900
there's no incentive to change, 
right? 

699
00:40:43,300 --> 00:40:46,000
Whereas in, for example, from a 
small business, right? 

700
00:40:46,400 --> 00:40:49,000
If I don't change that go out of
business, if I'm a government, 

701
00:40:49,600 --> 00:40:52,800
I'm still receiving taxes or 
they go to jail, right? 

702
00:40:52,800 --> 00:40:57,200
So there's like, the incentives 
are are not aligned for this 

703
00:40:57,200 --> 00:40:59,500
top-down approach, right? 
Because there's, you're not 

704
00:40:59,500 --> 00:41:01,600
getting all this. 
You're not Millions upon 

705
00:41:01,600 --> 00:41:03,000
Millions. 
Millions of people making their 

706
00:41:03,000 --> 00:41:07,200
own decisions about what to buy,
what not to buy is a much better

707
00:41:07,600 --> 00:41:10,700
allocator. 
It's much better, allocating 

708
00:41:10,700 --> 00:41:14,600
resources in this top-down 
approach and I think history has

709
00:41:14,600 --> 00:41:17,300
proved that. 
So I really I'm glad that you 

710
00:41:17,300 --> 00:41:19,300
say that you believe in the free
market. 

711
00:41:20,300 --> 00:41:23,400
Tom, what are your thoughts? 
My friend, I see you smiling and

712
00:41:23,400 --> 00:41:26,700
smart. 
I am sparking a little bit and 

713
00:41:26,700 --> 00:41:30,500
when I would play first is that,
I am not a capitalist, really, 

714
00:41:30,500 --> 00:41:32,100
an anti-capitalist. 
Okay. 

715
00:41:32,300 --> 00:41:36,400
And one of the reasons I say 
that is because I think that 

716
00:41:37,100 --> 00:41:42,700
capitalism cannot exist without 
the state and being also having 

717
00:41:42,700 --> 00:41:45,100
really become anti-state in a 
lot of ways because of all these

718
00:41:45,100 --> 00:41:46,900
issues. 
I just you know we talked about 

719
00:41:46,900 --> 00:41:49,500
earlier with the centralization 
of things and how large 

720
00:41:49,500 --> 00:41:53,300
bureaucracies ultimately kind of
degrade services and they don't 

721
00:41:53,300 --> 00:41:59,400
they can't deliver properly for 
people capitalism is centralized

722
00:42:00,100 --> 00:42:03,400
by Design. 
Well, I think you're describing 

723
00:42:03,400 --> 00:42:05,600
choir. 
I think you're describing crony 

724
00:42:05,600 --> 00:42:09,700
capitalism, which is what we've 
had for a very long time, right?

725
00:42:09,700 --> 00:42:14,200
Which is like this, this 
mechanism where like the the 

726
00:42:14,200 --> 00:42:20,400
bankers, and the bureaucrats 
have this crazy power and they 

727
00:42:20,400 --> 00:42:23,900
could corrupt the system to 
their advantage, right? 

728
00:42:23,900 --> 00:42:28,000
Whereas in capitalism the way 
that it should be right? 

729
00:42:28,000 --> 00:42:30,500
Which in my opinion, hasn't been
tried before. 

730
00:42:30,800 --> 00:42:33,000
Right? 
And I It's funny because the the

731
00:42:33,000 --> 00:42:34,400
Socialist, they say, the same 
thing. 

732
00:42:34,400 --> 00:42:39,500
So real socialism hasn't been 
tried before, but the reason 

733
00:42:39,500 --> 00:42:42,800
hasn't been tried before is 
because the system's bro, its if

734
00:42:42,800 --> 00:42:45,400
the government controls the 
money, right? 

735
00:42:45,400 --> 00:42:47,900
But you can't really have free 
capitalism, right? 

736
00:42:47,900 --> 00:42:50,500
Capitalism is the the free 
exchange of goods, right? 

737
00:42:50,500 --> 00:42:54,200
So, if, for example, I hire you 
for your graphic design, you're 

738
00:42:54,200 --> 00:42:55,500
going to want to get paid for 
that. 

739
00:42:55,500 --> 00:42:57,800
I'm paying you in Bitcoin, 
that's capitalism. 

740
00:42:58,300 --> 00:43:00,500
Right? 
The, the other Augustine, the 

741
00:43:00,500 --> 00:43:03,700
other, the other Other option 
would be this kind of communal 

742
00:43:03,700 --> 00:43:06,900
thing where it's like you live 
in a which by the way, works on 

743
00:43:06,900 --> 00:43:11,700
a smaller scale where you have 
like a society. 

744
00:43:11,700 --> 00:43:14,800
Right? 
The in Israel, I forget what the

745
00:43:14,800 --> 00:43:19,100
actual communal. 
The his he wasn't there called 

746
00:43:19,100 --> 00:43:20,400
the keyboards. 
Yeah, it's right. 

747
00:43:20,400 --> 00:43:23,600
So, it's a community and they, 
there's no money in the 

748
00:43:23,600 --> 00:43:25,800
community. 
They all work together. 

749
00:43:26,000 --> 00:43:28,800
And but it's still capitalism 
because they're still working to

750
00:43:28,800 --> 00:43:31,700
make things. 
And from working for me, from 

751
00:43:31,700 --> 00:43:35,200
working from The Profit that 
they learn making things, right?

752
00:43:35,300 --> 00:43:36,900
That's how they pay the whole 
Community. 

753
00:43:36,900 --> 00:43:39,900
But on the smaller scale, 
everything's free because you 

754
00:43:39,900 --> 00:43:43,900
know, you go there, you have 
free, you know, daycare and all 

755
00:43:43,900 --> 00:43:48,600
that stuff, but it's not really 
free because Once still working 

756
00:43:48,600 --> 00:43:51,800
to make things so that they 
could sell those things so that 

757
00:43:51,800 --> 00:43:54,900
they could pay for things. 
Sure, of course, I agree. 

758
00:43:54,900 --> 00:43:57,900
That's absolutely right. 
And so what I would say is that 

759
00:43:58,000 --> 00:44:01,100
my take is that capitalism 
actually prevents free markets 

760
00:44:01,200 --> 00:44:04,700
from occurring because what it 
does is it centralizes 

761
00:44:04,800 --> 00:44:07,200
resources, right? 
People are able to private 

762
00:44:07,200 --> 00:44:09,100
ownership of the means of 
production are able to 

763
00:44:09,200 --> 00:44:12,000
accumulate resources in a 
centralized Manner. 

764
00:44:12,200 --> 00:44:15,300
And then what they do with that 
is over and over as we've seen 

765
00:44:15,300 --> 00:44:17,300
throughout history, is they 
recreate? 

766
00:44:17,500 --> 00:44:22,300
The state to control and protect
those resources and then they 

767
00:44:22,500 --> 00:44:26,500
just govern over people, right? 
And they actually prevent 

768
00:44:26,500 --> 00:44:30,500
markets from being free and so 
if you want a free market then 

769
00:44:30,500 --> 00:44:32,800
you can't have the 
monopolization of resources in 

770
00:44:32,800 --> 00:44:35,900
that way right there has to be a
better kind of more natural 

771
00:44:35,900 --> 00:44:38,600
distribution of resources that 
aren't protected, through 

772
00:44:38,600 --> 00:44:43,200
coercion and violence. 
But that, that kind of sounds 

773
00:44:43,200 --> 00:44:45,100
like it's leads that that's 
weird though, because that 

774
00:44:45,100 --> 00:44:47,500
totally sounds like socialism 
and then it sounds like 

775
00:44:47,508 --> 00:44:49,600
coercion. 
Why is it? 

776
00:44:49,600 --> 00:44:51,900
Why is that coercion? 
It just because? 

777
00:44:51,900 --> 00:44:55,500
Like, because you were talking 
about the, the, the piece of 

778
00:44:55,500 --> 00:44:58,300
centralization, right? 
So, people are acting on their, 

779
00:44:58,300 --> 00:45:01,500
on their own benefits. 
Let's say in a in a free market,

780
00:45:01,500 --> 00:45:05,800
but in this case, in this case, 
it sounds like they wouldn't be,

781
00:45:05,800 --> 00:45:13,500
because they would then have to 
be forced to Not, how could I 

782
00:45:13,508 --> 00:45:15,400
say this? 
They'd be forced to not go with 

783
00:45:15,400 --> 00:45:20,400
their own incentives and I guess
you'd say monopolize, like right

784
00:45:20,400 --> 00:45:24,600
now, like let's it's for 
example, you have a company, 

785
00:45:24,600 --> 00:45:26,800
right? 
You have a company, like a good 

786
00:45:26,800 --> 00:45:29,200
example would be like Procter & 
Gamble, okay? 

787
00:45:29,800 --> 00:45:32,100
It's Procter & Gamble. 
Once Upon a Time, you know, they

788
00:45:32,100 --> 00:45:34,800
made only a few products. 
And then what happened was was 

789
00:45:34,800 --> 00:45:37,600
that they started to be, they 
started to be able to buy over 

790
00:45:37,600 --> 00:45:40,700
companies. 
So there's the example of the 

791
00:45:40,900 --> 00:45:43,700
The increased centralization I 
believe that you're talking 

792
00:45:43,700 --> 00:45:46,100
about on a smaller scale, right 
on the company scale. 

793
00:45:46,100 --> 00:45:50,800
So there's an increase of 
centralization and barring the 

794
00:45:50,800 --> 00:45:53,300
government money. 
Let's say a business can do 

795
00:45:53,300 --> 00:45:56,200
this. 
That is a free market mechanism,

796
00:45:56,400 --> 00:45:58,600
that allows them to do that 
because they've offered a 

797
00:45:58,608 --> 00:46:03,400
superior product. 
They've, they've provided value,

798
00:46:03,400 --> 00:46:07,000
which is subjective and they're 
being compensated for it. 

799
00:46:07,100 --> 00:46:11,400
So, in a free market system, 
another player could come Lon 

800
00:46:11,600 --> 00:46:15,100
possibly offering a higher 
quality product or set of 

801
00:46:15,100 --> 00:46:19,900
products, more value, and ipso 
facto maybe buying Procter & 

802
00:46:19,900 --> 00:46:23,300
Gamble over. 
So to me, those are free market 

803
00:46:23,300 --> 00:46:26,100
dynamics. 
Whereas if we have somebody or a

804
00:46:26,100 --> 00:46:29,300
group of people deciding to make
a decision where we say, you 

805
00:46:29,300 --> 00:46:32,800
know what Procter & Gamble, 
you're way too big. 

806
00:46:32,900 --> 00:46:36,200
We need to split you up because 
you're monopolizing resources 

807
00:46:37,100 --> 00:46:40,700
that to me just that that to 
Media evolves into into. 

808
00:46:40,800 --> 00:46:44,800
Socialism at that point and that
becomes this kind of top-down. 

809
00:46:44,800 --> 00:46:47,600
I it's like a made-up term. 
I'm going to make but this is 

810
00:46:47,600 --> 00:46:50,100
like almost like socio 
capitalism. 

811
00:46:50,700 --> 00:46:51,300
Right. 
Where? 

812
00:46:51,300 --> 00:46:53,900
Where it's this, you know this 
this government that is now 

813
00:46:53,900 --> 00:46:56,200
deciding. 
Hey wait a second, your business

814
00:46:56,200 --> 00:46:59,500
has become too powerful. 
But but if, if my business is 

815
00:46:59,500 --> 00:47:03,200
the best one and I am offering 
Superior value to the customers,

816
00:47:03,600 --> 00:47:07,400
do I not deserve to have that 
like I'm building that. 

817
00:47:07,500 --> 00:47:10,700
So usually so you pumps you 
believe in Monopoly. 

818
00:47:10,900 --> 00:47:13,100
Phil, you don't believe it's not
that I'd be even. 

819
00:47:13,500 --> 00:47:15,300
So that's kind of putting words 
in my mouth. 

820
00:47:15,300 --> 00:47:18,200
It's not that I believe in 
monopolies I believe that 

821
00:47:18,200 --> 00:47:22,900
unfortunately right part of the 
free market mechanism, is that a

822
00:47:23,000 --> 00:47:27,400
large company or a large group 
will if they're offering 

823
00:47:27,400 --> 00:47:31,600
Superior value to the 
constituents will continue to 

824
00:47:31,600 --> 00:47:34,100
grow. 
Why would they split up? 

825
00:47:35,900 --> 00:47:38,700
Sure, I think I don't know it 
just and again it's not I'm not 

826
00:47:38,700 --> 00:47:40,500
necessarily saying I'm for or 
against it. 

827
00:47:40,500 --> 00:47:43,600
I'm just saying objectively this
is what it looks like to me. 

828
00:47:43,900 --> 00:47:46,100
You know that. 
And that's just the way at least

829
00:47:46,100 --> 00:47:49,900
it seemingly going to work until
we can find something else. 

830
00:47:51,100 --> 00:47:53,600
Sure. 
I think what kind of rebuttal to

831
00:47:53,608 --> 00:47:58,400
that would be that the reason 
why I say that capitalism 

832
00:47:58,400 --> 00:48:01,100
inherently recreate 
centralization in the state is 

833
00:48:01,100 --> 00:48:05,700
because what happens is, as you 
accumulate more resources, So 

834
00:48:05,700 --> 00:48:07,800
you have a big company and so 
you're going to open up. 

835
00:48:07,800 --> 00:48:10,400
Now, you're going to open up a 
new headquarters across the 

836
00:48:10,400 --> 00:48:13,800
country and you need to have 
resources over there and then 

837
00:48:13,800 --> 00:48:18,400
you're going to open up more, 
you know, you know, offices all 

838
00:48:18,400 --> 00:48:20,300
over the world. 
You need to be able to defend 

839
00:48:20,300 --> 00:48:23,100
those resources in some way from
people who want to take them 

840
00:48:23,100 --> 00:48:26,700
from you. 
And so, what you do is you then,

841
00:48:26,800 --> 00:48:30,900
basically, your Lobby or become 
part of the, you know, you 

842
00:48:31,200 --> 00:48:33,100
that's crony capitalism. 
My friend, what you're 

843
00:48:33,100 --> 00:48:36,200
describing is crony capitalism, 
which is A system we have today,

844
00:48:36,200 --> 00:48:38,300
right? 
I understand like corporations. 

845
00:48:38,300 --> 00:48:41,700
They just buy the politicians to
change the laws for their favor 

846
00:48:41,700 --> 00:48:43,500
like that's understood. 
Yeah. 

847
00:48:43,700 --> 00:48:46,000
And so but who put that in 
place? 

848
00:48:46,300 --> 00:48:49,300
The capitalist it right. 
The capitalist put in place the 

849
00:48:49,300 --> 00:48:52,400
capitalist have been in charge 
for a long time and so they 

850
00:48:52,400 --> 00:48:55,200
built it up this way, right? 
It isn't somebody didn't just 

851
00:48:55,200 --> 00:48:58,000
come in from over here and make 
it different, right? 

852
00:48:58,000 --> 00:49:01,400
What happened in the USSR as an 
example, right? 

853
00:49:01,400 --> 00:49:03,700
Is when you're talking about 
extreme centralization of the 

854
00:49:03,708 --> 00:49:06,400
state and controlling all 
corporations, Shins that is 

855
00:49:06,400 --> 00:49:09,000
State capitalism, right? 
They're still doing capitalism. 

856
00:49:09,100 --> 00:49:11,600
It's just that one person is in 
charge instead of many different

857
00:49:11,600 --> 00:49:13,900
people are in charge that's 
worse, right? 

858
00:49:13,900 --> 00:49:15,500
That's way. 
It's worse than what we have 

859
00:49:15,500 --> 00:49:17,700
now. 
So that's the wrong direction. 

860
00:49:18,100 --> 00:49:21,800
What I'm saying is that 
capitalism has created this 

861
00:49:21,800 --> 00:49:25,600
system that we have now, because
of the inherent centralization 

862
00:49:25,600 --> 00:49:28,700
of it and the need to protect 
their resources with a monopoly 

863
00:49:28,700 --> 00:49:32,200
on violence, using the police, 
using the National Guard with a 

864
00:49:32,208 --> 00:49:35,300
breakup strikes. 
They break up protests all As of

865
00:49:35,300 --> 00:49:41,300
things, they have you no money 
to buy influence and then they 

866
00:49:41,300 --> 00:49:44,600
influence the state and then 
they retain their power or grow 

867
00:49:44,600 --> 00:49:47,000
their power, right? 
Let's so, what's the alternative

868
00:49:47,000 --> 00:49:49,800
that you're suggesting? 
Like, what is the alternative to

869
00:49:49,800 --> 00:49:52,400
capitalism? 
You made the argument that 

870
00:49:52,600 --> 00:49:54,800
China? 
The USSR that was State 

871
00:49:54,800 --> 00:49:58,300
capitalism, what is the 
alternative to that system? 

872
00:49:59,400 --> 00:50:00,800
I guess the alternative to that 
system. 

873
00:50:00,800 --> 00:50:04,100
For me is kind of Brittany. 
There is a certain amount of 

874
00:50:04,100 --> 00:50:08,500
having to break up. 
Power, but it's you have to 

875
00:50:08,500 --> 00:50:11,500
break up the way that the state 
can control everything, right? 

876
00:50:11,500 --> 00:50:16,700
The state picks winners and 
losers and they ultimately, you 

877
00:50:16,700 --> 00:50:20,200
know, set the direction in which
we're going to be going and that

878
00:50:20,200 --> 00:50:24,800
is inherently anti-freedom, and 
it needs to be stopped at the 

879
00:50:24,800 --> 00:50:28,000
core. 
And so, and to me the, this is 

880
00:50:28,000 --> 00:50:31,200
actually why I'm such a bit 
Corners because Fiat, money is 

881
00:50:31,200 --> 00:50:34,900
the tool of state of states of 
capitalism, right? 

882
00:50:35,100 --> 00:50:37,900
White people are, who are the 
capitalist class. 

883
00:50:37,900 --> 00:50:41,200
They receive the free money and 
they're able to maintain and 

884
00:50:41,200 --> 00:50:44,000
grow their power. 
But if they didn't have a system

885
00:50:44,000 --> 00:50:47,300
like that, it would start to 
erode underneath them because 

886
00:50:47,300 --> 00:50:50,400
they wouldn't be able to make 
the same kind of poor choices 

887
00:50:50,400 --> 00:50:52,700
that we talked about at the 
beginning right with block by, 

888
00:50:52,700 --> 00:50:54,900
right? 
Like you do you use risky 

889
00:50:54,900 --> 00:50:59,000
Behavior, you make bad products,
you get bailed out you and then 

890
00:50:59,000 --> 00:51:01,800
you just keep doing it. 
And that inherently is what's 

891
00:51:01,800 --> 00:51:06,200
causing all kinds of problems. 
Also, with the Growth of Fiat 

892
00:51:06,200 --> 00:51:09,300
money, right? 
It's destroying the planet and 

893
00:51:09,300 --> 00:51:11,600
so that whole system needs to 
go. 

894
00:51:12,100 --> 00:51:14,600
Yeah, that's right. 
Look, I and I fundamentally 

895
00:51:14,600 --> 00:51:18,000
believe it, but I agree with you
Phil and I say this all the 

896
00:51:18,000 --> 00:51:21,700
time, we must separate money 
from state for exactly the same 

897
00:51:21,700 --> 00:51:26,600
reasons that you're that, you're
arguing, but when it all falls, 

898
00:51:26,800 --> 00:51:29,100
right? 
And we hope that it does what 

899
00:51:29,100 --> 00:51:35,000
what system do you propose like 
let's say the the powerful DC. 

900
00:51:35,100 --> 00:51:37,700
Cyril government. 
Its powers diminished because 

901
00:51:37,700 --> 00:51:40,600
everyone's using Bitcoin. 
It's the state governments that 

902
00:51:40,600 --> 00:51:43,200
have a little bit more power, 
but it doesn't even come close 

903
00:51:43,600 --> 00:51:46,100
to the DC power. 
They don't control the money. 

904
00:51:46,100 --> 00:51:49,500
These politicians don't have the
ability to print therefore pay 

905
00:51:49,500 --> 00:51:54,800
for Wars and all that stuff. 
What what system do you propose 

906
00:51:54,800 --> 00:51:56,900
people? 
Organize themselves around. 

907
00:51:57,500 --> 00:52:00,100
First off, I think that like I 
said, the Beginning, free 

908
00:52:00,100 --> 00:52:02,000
markets and capitalism are not 
synonymous, right? 

909
00:52:02,000 --> 00:52:04,400
Markets have existed for a long,
long time. 

910
00:52:05,100 --> 00:52:07,400
Tourism has only existed for 
about 300 years. 

911
00:52:07,600 --> 00:52:11,800
Maybe 400 and so markets predate
capitalism meaning that they can

912
00:52:11,800 --> 00:52:14,900
live after capitalism markets. 
Are just places where people can

913
00:52:14,900 --> 00:52:16,900
trade things amongst each other 
in a free manner. 

914
00:52:16,900 --> 00:52:19,600
Hopefully, right. 
That's what a free market is. 

915
00:52:19,700 --> 00:52:22,700
And so what I the way I see it 
is that there'd be more 

916
00:52:22,800 --> 00:52:26,500
community control of resources. 
There'd be more Community. 

917
00:52:26,700 --> 00:52:30,400
You know, policing of 
themselves, there would be trade

918
00:52:30,400 --> 00:52:32,700
amongst communities and there 
wouldn't be so much of a 

919
00:52:32,700 --> 00:52:37,900
centralization and coercion. 
That comes with the state 

920
00:52:37,900 --> 00:52:40,200
dictating how the economy 
functions, okay? 

921
00:52:40,200 --> 00:52:42,300
So let me give you an example, 
right? 

922
00:52:42,300 --> 00:52:44,300
So I've started to companies, 
right? 

923
00:52:44,400 --> 00:52:47,300
I've invested my money. 
I've risked, my money, my 

924
00:52:47,300 --> 00:52:49,800
Capital right into those 
companies. 

925
00:52:50,100 --> 00:52:54,000
I've took the risk. 
I've had six failed companies. 

926
00:52:54,000 --> 00:52:55,600
Right? 
Where I didn't get my money 

927
00:52:55,600 --> 00:52:57,400
back. 
Now that I started these 

928
00:52:57,400 --> 00:53:02,100
companies, Why would I give up 
control of my company? 

929
00:53:02,100 --> 00:53:05,000
If I'm the one that took the 
risk, do you get what I'm 

930
00:53:05,000 --> 00:53:06,400
saying? 
Why would I give? 

931
00:53:06,400 --> 00:53:09,000
Why would I have communal 
control of my company? 

932
00:53:09,300 --> 00:53:14,400
If I took to the risk, why 
should I give a say to someone 

933
00:53:14,400 --> 00:53:17,700
that I hire? 
If it's my company like that you

934
00:53:17,700 --> 00:53:18,700
get what? 
I'm trying to tell you? 

935
00:53:18,800 --> 00:53:19,800
Yes. 
Absolutely. 

936
00:53:19,800 --> 00:53:24,100
And I think what I'm kind of 
referring to Millions the scale 

937
00:53:24,300 --> 00:53:26,200
right? 
Where like if you built your 

938
00:53:26,200 --> 00:53:29,500
company up to the size of 
Amazon, then there's would be a 

939
00:53:29,700 --> 00:53:33,900
Different conversation perhaps. 
But it is in a different 

940
00:53:33,900 --> 00:53:35,900
conversation. 
It's just a bigger scale, right?

941
00:53:35,900 --> 00:53:39,200
So let me get, so sure. 
I built a company, right? 

942
00:53:39,200 --> 00:53:43,700
I have, I employ right now in 
total, between two, like seven 

943
00:53:43,700 --> 00:53:48,000
workers, right? 
So they could, they could pay 

944
00:53:48,000 --> 00:53:50,800
their, they could pay their 
families, they can pay their 

945
00:53:50,800 --> 00:53:55,100
health care. 
I-i'm in Tain them right in 

946
00:53:55,100 --> 00:53:57,800
essence, right? 
And then they give me their time

947
00:53:57,800 --> 00:54:01,100
and their effort and their labor
In return, right? 

948
00:54:01,200 --> 00:54:05,100
So it Amazon right? 
Yeah, Jeff Bezos. 

949
00:54:05,100 --> 00:54:10,400
Got crazy Rich, right. 
But at the same time, I'm able 

950
00:54:10,400 --> 00:54:14,700
to order something online that 
comes to my doorstep because of 

951
00:54:14,700 --> 00:54:18,900
Jeff Bezos idea, because he took
that risk, he quit a hydrant 

952
00:54:18,900 --> 00:54:21,300
high paying job in New York City
to go. 

953
00:54:21,300 --> 00:54:24,400
Start a business in the garage. 
You always hear about the 

954
00:54:24,408 --> 00:54:27,300
success stories, but you never 
hear about the failures, right? 

955
00:54:27,300 --> 00:54:31,900
The millions of people that are 
failed, that tried to He did not

956
00:54:31,900 --> 00:54:34,700
to mention the fact that he took
his public cut his company 

957
00:54:34,700 --> 00:54:38,200
public. 
Therefore any person could buy 

958
00:54:38,200 --> 00:54:41,600
into the Amazon success. 
Do you even trying to tell you 

959
00:54:41,600 --> 00:54:45,800
like, when you build a company 
your it's a kites in the name, 

960
00:54:45,800 --> 00:54:48,900
it's a company. 
So it's all these people that 

961
00:54:48,900 --> 00:54:51,900
are benefiting from that company
as well as you are. 

962
00:54:52,000 --> 00:54:55,500
You just happened to be the one 
that took the most risk because 

963
00:54:55,500 --> 00:54:58,300
you put your money into it. 
Those people didn't put money 

964
00:54:58,300 --> 00:55:03,300
into Amazon Amazon is giving the
op giving them the opportunity 

965
00:55:04,200 --> 00:55:06,600
to earn money. 
You get one chance value. 

966
00:55:07,000 --> 00:55:08,800
Absolutely. 
And I think the reason why I 

967
00:55:08,808 --> 00:55:11,400
bring up the scale is because 
the only way that something like

968
00:55:11,400 --> 00:55:13,700
Amazon can grow to that size and
the way that your company would 

969
00:55:13,700 --> 00:55:17,500
grow to a size like that is 
because you exploited people by 

970
00:55:17,500 --> 00:55:22,400
basically taking a lot of your 
use that you're taking more of 

971
00:55:22,400 --> 00:55:26,800
the value than they're getting 
back by a significant margin. 

972
00:55:27,000 --> 00:55:30,200
Well, it's voluntary, right? 
Like, they don't have Do it for 

973
00:55:30,200 --> 00:55:31,900
me. 
They don't have to work for me, 

974
00:55:31,900 --> 00:55:34,000
they could wait for somebody 
else, right? 

975
00:55:34,000 --> 00:55:35,800
And so right. 
They're not but they're not 

976
00:55:35,800 --> 00:55:38,900
going to do that because I 
provide a very good incentive 

977
00:55:39,000 --> 00:55:41,300
right? 
Like for them, right? 

978
00:55:41,300 --> 00:55:44,800
So they could, for example, they
could earn money with me. 

979
00:55:45,100 --> 00:55:48,100
I'm not keeping them. 
If they want to take the risk 

980
00:55:48,100 --> 00:55:50,600
with the money that they earned 
with me and start their own 

981
00:55:50,600 --> 00:55:54,300
company, they're totally free to
do that. 

982
00:55:54,500 --> 00:55:56,700
But again, the key word is risk 
here, right? 

983
00:55:56,700 --> 00:55:58,000
Are they willing to take that 
risk? 

984
00:55:58,000 --> 00:55:59,500
Are they willing? 
Not to take that risk? 

985
00:55:59,600 --> 00:56:02,900
Uuuuuugh sure, I hear that, 
absolutely? 

986
00:56:03,300 --> 00:56:06,600
I think there is, you know, the 
whole way the whole system works

987
00:56:06,600 --> 00:56:11,700
from the top down is that I, you
know, everything has become. 

988
00:56:11,700 --> 00:56:13,400
Come on, come become 
commoditized. 

989
00:56:13,400 --> 00:56:17,100
So like housing, food prices, go
up. 

990
00:56:17,600 --> 00:56:20,200
You know, it's become really 
difficult to live and you have 

991
00:56:20,200 --> 00:56:24,400
to provide your labor, to a 
really wealthy person or to a 

992
00:56:24,400 --> 00:56:27,300
business owner in order to to 
survive, right? 

993
00:56:27,300 --> 00:56:30,600
There's no really other way to 
do that, and So, I think 

994
00:56:30,600 --> 00:56:34,500
eliminating some of the coercive
kind of top-down things will 

995
00:56:34,500 --> 00:56:37,500
make it less difficult to just 
survive, right? 

996
00:56:37,500 --> 00:56:40,000
This is my main thing is that. 
It's so difficult to survive. 

997
00:56:40,000 --> 00:56:43,600
It's really an unfair system, 
and it's very difficult for 

998
00:56:43,600 --> 00:56:45,700
people at the bottom, to rise up
to the top. 

999
00:56:45,700 --> 00:56:47,800
There's a, there's an illusion 
that you can do it. 

1000
00:56:47,800 --> 00:56:50,200
But what you saw out, of course,
more just wouldn't you say 

1001
00:56:50,200 --> 00:56:53,400
that's because of Fiat money and
not necessarily because of the 

1002
00:56:53,400 --> 00:56:58,500
work, I would say that, as 
definitely, I think the work 

1003
00:56:58,500 --> 00:57:00,900
isn't the problem. 
It's It's the it's the way that 

1004
00:57:00,900 --> 00:57:03,200
the whole system is run, right? 
And so you're right. 

1005
00:57:03,200 --> 00:57:08,600
It is a Fiat money because what 
happens is people who do the 

1006
00:57:08,600 --> 00:57:12,100
most exploitative behaviors, who
use them? 

1007
00:57:12,300 --> 00:57:14,900
Use the most exploitation to 
rise to the top that get 

1008
00:57:14,900 --> 00:57:18,100
rewarded for that by then having
the most money, having the 

1009
00:57:18,100 --> 00:57:22,000
biggest proof of stake right in 
the way that the system works 

1010
00:57:22,300 --> 00:57:25,400
and then they get free money 
from the government for 

1011
00:57:25,400 --> 00:57:27,600
basically already being wealthy 
because they're going to 

1012
00:57:27,600 --> 00:57:30,900
continue to do this because it 
also Brings both to the state, 

1013
00:57:31,000 --> 00:57:33,000
but it has an agenda. 
Hold on a second. 

1014
00:57:33,000 --> 00:57:35,600
So I was living on a couch six 
years ago. 

1015
00:57:35,600 --> 00:57:37,600
Okay, we're broke as hell. 
Okay. 

1016
00:57:37,600 --> 00:57:42,400
I, I worked my ass off and I 
made, and I took risks and those

1017
00:57:42,400 --> 00:57:46,300
risk paid off, right? 
I'm not exploiting anybody, 

1018
00:57:46,400 --> 00:57:48,700
right? 
It's a voluntary transaction, 

1019
00:57:48,700 --> 00:57:49,900
right? 
It's like, do they want to work 

1020
00:57:49,900 --> 00:57:51,700
for me? 
Do they need to do they want the

1021
00:57:51,700 --> 00:57:54,100
income, right? 
Or do they not want the income? 

1022
00:57:54,200 --> 00:57:57,200
I worked for. 
I worked for somebody and I used

1023
00:57:57,200 --> 00:57:59,500
that money in order to prop 
myself up. 

1024
00:57:59,600 --> 00:58:01,400
Up and give myself my own 
opportunity. 

1025
00:58:01,700 --> 00:58:04,800
Sure right. 
So I agree with you on the on 

1026
00:58:04,800 --> 00:58:08,500
the top level, I fundamentally 
agree with you that big 

1027
00:58:08,500 --> 00:58:13,500
companies are paying politicians
in order to benefit them while 

1028
00:58:13,500 --> 00:58:16,600
the little guy gets ft /. 
I agree with you and that's 

1029
00:58:16,600 --> 00:58:19,400
crony capitalism. 
That's something that I think we

1030
00:58:19,400 --> 00:58:23,000
all want to fall as bitcoiners 
because it hurts it. 

1031
00:58:23,000 --> 00:58:26,800
You're completely spot on. 
When you say, it hurts the lower

1032
00:58:26,800 --> 00:58:29,500
end, the lower end of the 
economic spectrum. 

1033
00:58:29,600 --> 00:58:33,300
From the most, they get hurt the
most but I think that's Fiat 

1034
00:58:33,300 --> 00:58:35,200
money. 
Anyways, Mark, you're a little 

1035
00:58:35,200 --> 00:58:36,700
silent. 
You want to try and chime in, on

1036
00:58:36,700 --> 00:58:38,500
this, my friend. 
This is a great conversation by 

1037
00:58:38,500 --> 00:58:41,600
the way. 
Yeah, I think Nico. 

1038
00:58:41,600 --> 00:58:43,200
Are you getting at like they 
have the cheat. 

1039
00:58:43,200 --> 00:58:46,100
They have the choice to work for
you or not. 

1040
00:58:47,500 --> 00:58:50,900
They could work for it. 
What I'm trying to say Mark and 

1041
00:58:50,900 --> 00:58:54,400
Tom is that they have a choice, 
they don't have to work for me, 

1042
00:58:54,900 --> 00:58:57,400
right? 
They can go to someplace else, 

1043
00:58:57,500 --> 00:59:00,900
right? 
And this whole like aspect of 

1044
00:59:00,900 --> 00:59:04,800
you know like the the 19th 
century version of treating your

1045
00:59:04,800 --> 00:59:08,200
worker where it's like they go, 
they work 12-hour shifts, they 

1046
00:59:08,200 --> 00:59:11,700
have no shoes and it's like a 
coal Factory and they have like 

1047
00:59:11,700 --> 00:59:13,700
dirt on their face. 
It's like no you treat your 

1048
00:59:13,700 --> 00:59:16,700
workers, nice, right? 
You, you know, you give them 

1049
00:59:16,700 --> 00:59:18,200
Healthcare. 
They're in a problem. 

1050
00:59:18,300 --> 00:59:21,300
You lend them money, right? 
You have to be a good person, 

1051
00:59:21,300 --> 00:59:22,800
right? 
And I don't think I'm not 

1052
00:59:22,800 --> 00:59:25,300
arguing against that. 
You have to be a good person but

1053
00:59:25,300 --> 00:59:28,100
that's more so of a moral 
ethical issue. 

1054
00:59:28,100 --> 00:59:30,400
Right. 
I've had my guy come over for 

1055
00:59:30,400 --> 00:59:33,100
Thanksgiving like that but 
that's about being a good 

1056
00:59:33,100 --> 00:59:35,700
person, right? 
But at the same time, it is a 

1057
00:59:35,708 --> 00:59:37,400
voluntary transaction. 
Right? 

1058
00:59:37,400 --> 00:59:38,900
Why is it a voluntary 
transaction? 

1059
00:59:39,100 --> 00:59:40,500
He doesn't have to come work for
me. 

1060
00:59:40,600 --> 00:59:43,000
He's choosing to work for me. 
He can go work for somebody 

1061
00:59:43,000 --> 00:59:45,000
else, right? 
But I know he's not going to 

1062
00:59:45,000 --> 00:59:46,900
work for somebody else because I
treat him really well. 

1063
00:59:47,200 --> 00:59:49,100
Right. 
So it has to, you know, it has 

1064
00:59:49,100 --> 00:59:50,300
to do. 
I think with being a good 

1065
00:59:50,300 --> 00:59:52,100
person, are you an ethical 
person? 

1066
00:59:52,200 --> 00:59:56,900
And I think that Fiat money 
because it's so fucking broken 

1067
00:59:57,100 --> 01:00:01,100
brings out the worst in people, 
right and specifically with 

1068
01:00:01,100 --> 01:00:04,300
these giant corporations because
here's the thing they're not 

1069
01:00:04,300 --> 01:00:07,300
incentivised to treat people. 
Well why? 

1070
01:00:07,300 --> 01:00:09,600
Because they have protection 
from the politicians. 

1071
01:00:09,800 --> 01:00:11,700
They don't need to do jack shit 
right? 

1072
01:00:11,700 --> 01:00:14,400
But I'm a small business owner, 
I don't have that protection. 

1073
01:00:14,400 --> 01:00:17,000
I don't get those benefits. 
I don't get a lobbying. 

1074
01:00:17,200 --> 01:00:19,900
Our right? 
I have to pay my God damn taxes.

1075
01:00:19,900 --> 01:00:24,700
Like everybody else, right? 
So II agree with you, Tom, in 

1076
01:00:24,700 --> 01:00:29,900
the sense that yeah, you have to
the, the whole crony stuff has 

1077
01:00:29,900 --> 01:00:31,700
to go away. 
Whether you want to Define that 

1078
01:00:31,700 --> 01:00:34,400
as capitalism or not, that's up 
to you, right? 

1079
01:00:34,400 --> 01:00:37,700
But I disagree with you, in the 
sense that I still think that 

1080
01:00:37,700 --> 01:00:41,500
capitalism the voluntary 
exchange between labor and a 

1081
01:00:41,500 --> 01:00:43,700
good. 
I think that's the best system 

1082
01:00:43,800 --> 01:00:47,400
and I think that it's taken 
Millions upon millions of A lot 

1083
01:00:47,400 --> 01:00:50,700
of poverty and no other system 
has been able to achieve that, 

1084
01:00:50,900 --> 01:00:53,500
right? 
And you could look that I don't,

1085
01:00:53,500 --> 01:00:55,800
you don't have to believe me, 
you can look it up, right? 

1086
01:00:55,800 --> 01:00:59,500
And then the alternative, right 
is the Socialist model, which by

1087
01:00:59,500 --> 01:01:03,600
the way, works on a smaller 
scale, and there's this amazing 

1088
01:01:03,600 --> 01:01:05,900
line that I tell fill all the 
time, right? 

1089
01:01:06,000 --> 01:01:09,500
I'm a communist with my family. 
I'm a socialist with my neighbor

1090
01:01:09,700 --> 01:01:13,000
and I'm a capitalist with 
strangers, and I remember a big 

1091
01:01:13,000 --> 01:01:17,000
believer in that, right, I give 
my sister thousands of dollars. 

1092
01:01:17,200 --> 01:01:19,500
Gave her thousands of dollars to
make fill a knife. 

1093
01:01:19,500 --> 01:01:24,100
The freaking thumbnails for, you
know, the first month or two of 

1094
01:01:24,100 --> 01:01:26,900
the show. 
I was completely over paying but

1095
01:01:26,900 --> 01:01:29,600
it's my sister and I want her to
have a good opportunity in 

1096
01:01:29,600 --> 01:01:34,400
Bitcoin. 
So I again like I'm Mark, what 

1097
01:01:34,400 --> 01:01:36,200
are your thoughts? 
Well I was going to say that. 

1098
01:01:36,200 --> 01:01:40,100
I think maybe the point is that 
that choice is becoming 

1099
01:01:40,100 --> 01:01:44,900
increasingly hard because of the
system that were in. 

1100
01:01:45,200 --> 01:01:48,700
So a person can don't leave 
their job. 

1101
01:01:49,500 --> 01:01:55,300
The patients that I see don't 
want to choose between food and 

1102
01:01:55,300 --> 01:02:01,300
their medications but they have 
to and and that's that's that's 

1103
01:02:01,400 --> 01:02:08,400
a complication of again the 
system that were that were in in

1104
01:02:08,400 --> 01:02:11,900
ultimately I almost refrain from
getting in the conversations 

1105
01:02:11,900 --> 01:02:17,100
about the isms as I call it 
because I think What the Common 

1106
01:02:17,100 --> 01:02:22,700
Thread is and into your point 
earlier, Nico, the Socialists a 

1107
01:02:22,700 --> 01:02:25,700
well, socialism is that has 
never been implemented as it 

1108
01:02:25,708 --> 01:02:27,400
should be. 
And we don't have perfect 

1109
01:02:27,400 --> 01:02:29,500
capitalism. 
We've got crony capitalism, in 

1110
01:02:29,500 --> 01:02:32,300
my opinion, the Common Thread 
amongst all those things is 

1111
01:02:32,300 --> 01:02:38,000
human fallibility and we're 
never going to have this Utopia 

1112
01:02:38,000 --> 01:02:43,400
that we desire because of that. 
I am interested in how Bitcoin 

1113
01:02:43,400 --> 01:02:48,700
can mitigate that fallibilities 
Through its transparency in 

1114
01:02:48,700 --> 01:02:54,900
through ability to provide 
savings for individuals who 

1115
01:02:54,900 --> 01:02:57,700
otherwise don't have it now. 
And how does that change your 

1116
01:02:57,700 --> 01:03:03,100
behavior over time because If 
you are struggling, if you're 

1117
01:03:03,200 --> 01:03:07,800
working two or three jobs and 
you can't afford your bills, how

1118
01:03:07,800 --> 01:03:10,200
does that affect your behavior? 
How does that affect your 

1119
01:03:10,200 --> 01:03:14,200
interaction between your family 
and your neighbors? 

1120
01:03:14,200 --> 01:03:16,400
And of course, of course you can
start pointing fingers and of 

1121
01:03:16,400 --> 01:03:18,900
course you're going to start 
being an asshole any of us 

1122
01:03:18,900 --> 01:03:22,100
would. 
And so, what I'm fascinated with

1123
01:03:22,100 --> 01:03:28,500
is the Possibility that Bitcoin 
could help mitigate some of 

1124
01:03:28,508 --> 01:03:34,100
that, not only are fallibilities
but also from a behavioral 

1125
01:03:34,100 --> 01:03:39,000
perspective as well. 
And in you know I agree with you

1126
01:03:39,000 --> 01:03:43,900
that you know, capitalism free 
markets are have brought many 

1127
01:03:43,900 --> 01:03:46,800
people out of poverty and we've 
seen that but now we're also 

1128
01:03:46,800 --> 01:03:48,900
seeing some of the downsides, 
right? 

1129
01:03:49,500 --> 01:03:52,900
And so there's a constant inner 
eight iterations over centuries 

1130
01:03:52,900 --> 01:03:55,300
and millennia. 
Of better and better systems. 

1131
01:03:55,600 --> 01:03:58,000
And I don't think we have any 
idea what that new system will 

1132
01:03:58,000 --> 01:04:02,800
be but the point is that there 
will be a new system and 

1133
01:04:02,800 --> 01:04:06,600
hopefully more people are under 
the umbrella than there were 

1134
01:04:06,700 --> 01:04:11,300
before. 
I definitely think Bitcoin gives

1135
01:04:11,300 --> 01:04:13,100
us Mark. 
I think you said that very well 

1136
01:04:13,100 --> 01:04:16,100
and I definitely think that 
Bitcoin gives us the best chance

1137
01:04:16,100 --> 01:04:19,100
at this. 
And I just want to you know kind

1138
01:04:19,100 --> 01:04:22,300
of add to essentially what Tom 
and you were saying. 

1139
01:04:22,300 --> 01:04:25,400
But from what I might My 
takeaway, my takeaway is this, 

1140
01:04:25,400 --> 01:04:27,300
right? 
Definitely, I like to stay away 

1141
01:04:27,300 --> 01:04:30,400
from all the isms and all of 
that stuff because it inherently

1142
01:04:30,400 --> 01:04:35,200
what it does is it forces people
into a corner and it forces us 

1143
01:04:35,200 --> 01:04:39,300
into these US versus them type 
of conversations, which usually 

1144
01:04:39,300 --> 01:04:43,500
don't lead anybody anywhere. 
It just keeps everybody divided,

1145
01:04:43,500 --> 01:04:44,600
right? 
And this is the beauty of the 

1146
01:04:44,600 --> 01:04:47,400
money printer, because the money
printer can keep us perpetually 

1147
01:04:47,400 --> 01:04:50,400
divided forever fighting. 
All these tiny little issues. 

1148
01:04:50,400 --> 01:04:53,000
When really all that's 
happening, is that all of us are

1149
01:04:53,000 --> 01:04:54,800
being devalued, The exact same 
way. 

1150
01:04:55,600 --> 01:05:00,300
But the, the point that I wanted
to make was, was that it's 

1151
01:05:00,300 --> 01:05:03,500
interesting. 
How with quote, unquote 

1152
01:05:03,500 --> 01:05:06,200
capitalism, right? 
You can start off doing 

1153
01:05:06,200 --> 01:05:11,400
something that really comes from
the free market and as soon as a

1154
01:05:11,400 --> 01:05:13,500
person because again, this goes 
back to what you said about 

1155
01:05:13,500 --> 01:05:15,600
people, right? 
Then people can't be trusted. 

1156
01:05:15,700 --> 01:05:20,600
As soon as that threshold of 
power is crossed, I can't lose 

1157
01:05:20,600 --> 01:05:21,800
this. 
Hmm. 

1158
01:05:21,800 --> 01:05:24,700
How do I keep this? 
How do I maintain This moat. 

1159
01:05:24,900 --> 01:05:28,300
But you see if it was really, if
we took the ability of the 

1160
01:05:28,300 --> 01:05:32,900
money, printers out of the 
equation, then these people, the

1161
01:05:32,900 --> 01:05:37,200
only thought they could have is 
how do I continue to provide 

1162
01:05:37,200 --> 01:05:38,300
value? 
Mmm. 

1163
01:05:38,300 --> 01:05:40,500
It's not about maintaining my 
moat anymore. 

1164
01:05:40,700 --> 01:05:43,100
It's really about. 
Hey, how do I continue to 

1165
01:05:43,100 --> 01:05:47,400
provide value and how do people 
continue to perceive me as a 

1166
01:05:47,500 --> 01:05:52,700
person or as a corporation of 
value which betters their lives?

1167
01:05:52,800 --> 01:05:57,900
So it changes Conversation. 
But again, I see what you're 

1168
01:05:57,900 --> 01:06:02,100
saying, Phil, but if the, that's
the utopian Vision, right? 

1169
01:06:02,100 --> 01:06:06,100
That's like the libertarian 
utopian Vision, because even if 

1170
01:06:06,100 --> 01:06:10,100
you got rid of the big federal 
government, you would still pay 

1171
01:06:10,100 --> 01:06:14,600
those goddamn local fish shoes, 
to give you to give you a to 

1172
01:06:14,600 --> 01:06:17,100
give you an advantage. 
So what this is, why we need 

1173
01:06:17,100 --> 01:06:19,700
Bitcoin, that's why we need to 
separate the money from state, 

1174
01:06:19,700 --> 01:06:22,400
to be fair, okay? 
I think all of us have a lot of 

1175
01:06:22,400 --> 01:06:24,900
and let me wrap it. 
Tup I have, well, I think a lot 

1176
01:06:24,900 --> 01:06:27,100
of us have a tremendous amount 
in common. 

1177
01:06:27,100 --> 01:06:30,000
I think we want to separate 
money from State, all of us do. 

1178
01:06:31,000 --> 01:06:32,900
And this is a great conversation
by the way. 

1179
01:06:32,900 --> 01:06:35,200
This is one of the best episodes
for the progressive case for 

1180
01:06:35,200 --> 01:06:38,600
Bitcoin. 
And I see your guys, this point,

1181
01:06:39,400 --> 01:06:43,300
I think that we have a lot more 
in common that we disagree in. 

1182
01:06:43,600 --> 01:06:47,200
And I think that again a lot of 
these problems that our people 

1183
01:06:47,200 --> 01:06:50,600
are suffering that they can't 
afford health care, they have to

1184
01:06:50,600 --> 01:06:52,400
pick, which is absolutely 
tragic. 

1185
01:06:52,400 --> 01:06:56,100
By the way, they have to pick 
Between food and being health 

1186
01:06:56,100 --> 01:06:59,100
is, it's disgusting. 
I think a lot of those problems 

1187
01:06:59,100 --> 01:07:01,500
would go away if you fix the 
money. 

1188
01:07:02,200 --> 01:07:06,600
So that's something that we 
continue to fight for, and we're

1189
01:07:06,600 --> 01:07:09,700
happy to be in the trenches with
you guys, so to speak. 

1190
01:07:10,600 --> 01:07:15,000
But anyways, Phil it's time for 
the daily fail brought to you by

1191
01:07:15,000 --> 01:07:18,800
Swan and check them out Swan 
Bitcoin.com. 

1192
01:07:18,900 --> 01:07:21,200
That's right. 
They've got automated Bitcoin 

1193
01:07:21,200 --> 01:07:23,600
savings plans, instant 
purchases. 

1194
01:07:23,700 --> 01:07:25,900
Has an app that's coming out 
there. 

1195
01:07:25,900 --> 01:07:29,600
Serving clients of any size, ten
dollars, ten million dollars, 

1196
01:07:29,600 --> 01:07:34,900
doesn't make a difference. 
It is a stacking site and app by

1197
01:07:34,900 --> 01:07:37,500
fellow plebs. 
The link is down below. 

1198
01:07:37,500 --> 01:07:41,000
All right, got got a couple of 
light, little funny fails before

1199
01:07:41,000 --> 01:07:43,100
we dive into the main part of 
the story. 

1200
01:07:43,400 --> 01:07:45,300
So we're I'm just going to take 
you through these really 

1201
01:07:45,300 --> 01:07:48,700
quickly, you know, as we were 
talking about block Phi and all 

1202
01:07:48,700 --> 01:07:52,300
that stuff in the numbers, I 
just wanted to remind everyone 

1203
01:07:52,300 --> 01:07:55,800
that crypto lender I said 
manager, Beau Bell Finance is 

1204
01:07:55,800 --> 01:07:58,500
renegotiating, its massive, 
three billion dollar loan by a 

1205
01:07:58,500 --> 01:08:01,400
balance June 17th. 
The company suspended all 

1206
01:08:01,400 --> 01:08:05,600
redemptions and withdrawals. 
Citing severe Market, volatility

1207
01:08:05,600 --> 01:08:09,500
alarmingly, it's conducting an 
emergency assessment of 

1208
01:08:09,500 --> 01:08:15,000
creditors, cash demands, and of 
course, they are prohibiting 

1209
01:08:15,400 --> 01:08:19,100
withdrawals. 
So again, not your keys, not 

1210
01:08:19,100 --> 01:08:21,300
your coin, this is what's 
happening. 

1211
01:08:21,300 --> 01:08:24,300
When the market gets weak, all 
of these services, Has, which 

1212
01:08:24,300 --> 01:08:26,600
looked so promising. 
I know the feeling, I know the 

1213
01:08:26,600 --> 01:08:29,000
feeling in the bull market, 
you're sitting there thinking if

1214
01:08:29,000 --> 01:08:31,600
I just put a little more into 
this, this could become a 

1215
01:08:31,608 --> 01:08:34,000
paycheck and then I don't have 
to go to work anymore. 

1216
01:08:34,500 --> 01:08:37,000
Everyone else was thinking the 
same thing to everyone else was 

1217
01:08:37,000 --> 01:08:38,700
pouring their money in thinking 
the exact same thing. 

1218
01:08:38,700 --> 01:08:41,600
But the reality is that this 
type of shit is completely 

1219
01:08:41,600 --> 01:08:45,100
unsustainable and you only find 
out when the wheel start to fall

1220
01:08:45,100 --> 01:08:47,399
off, okay? 
That's what happens. 

1221
01:08:47,800 --> 01:08:50,200
You will start to fall off. 
You're like wait a second, this 

1222
01:08:50,200 --> 01:08:51,700
isn't the safest I thought it 
was. 

1223
01:08:51,899 --> 01:08:54,200
Then you start to really realize
that all your Sitting on this 

1224
01:08:54,200 --> 01:08:56,600
platform and you can't do 
anything about it. 

1225
01:08:57,200 --> 01:09:01,800
Anyways, Moving On, Moving On. 
Here we go, let's take a look. 

1226
01:09:01,800 --> 01:09:04,100
This is a this was we were 
tagged by psy. 

1227
01:09:04,100 --> 01:09:06,600
Psy tags Us in everything. 
Thank you so much psi. 

1228
01:09:07,100 --> 01:09:12,700
Here we go nft NYC in seven 
seconds, you're not missing 

1229
01:09:12,700 --> 01:09:14,300
anything. 
This is a tweet from autism 

1230
01:09:14,300 --> 01:09:16,800
capital and I got to tell you 
Miko. 

1231
01:09:16,800 --> 01:09:22,100
This is very reminiscent of a 
video that I saw of a theory and

1232
01:09:22,100 --> 01:09:27,500
putting on a dance spectacle 
back in 2018 or 2019, something 

1233
01:09:27,500 --> 01:09:30,200
some coordinated weird aetherium
dance anyways. 

1234
01:09:30,700 --> 01:09:32,700
So let's take a look at this, 
right? 

1235
01:09:32,899 --> 01:09:35,200
Keep in mind, you don't sell the
steak. 

1236
01:09:35,200 --> 01:09:39,300
You sell the sizzle, we wonder 
to be huh. 

1237
01:09:40,000 --> 01:09:46,100
I'm not like them. 
Man, but when he comes, there 

1238
01:09:46,100 --> 01:09:48,899
you go. 
So you got the guys rolling out 

1239
01:09:48,899 --> 01:09:53,100
on the one-wheel, he's doing 
fantastic, you know, and and hey

1240
01:09:53,399 --> 01:09:56,300
Buzz, word decentralized. 
We all want it to be 

1241
01:09:56,300 --> 01:09:59,000
decentralized, right? 
Like your decentralized and FTS 

1242
01:09:59,000 --> 01:10:02,100
all sitting on the centralized 
Open Sea platform. 

1243
01:10:02,600 --> 01:10:05,100
You know, it's fantastic. 
Okay? 

1244
01:10:05,100 --> 01:10:07,800
Anyways, just wanted everyone to
get a little laugh out of this. 

1245
01:10:07,800 --> 01:10:10,500
No comments needed. 
I think the video says it all. 

1246
01:10:11,800 --> 01:10:14,500
Well, if you're buying this 
crap, I'm really sorry. 

1247
01:10:14,500 --> 01:10:17,100
This is not going to be money. 
This is not an investment. 

1248
01:10:17,100 --> 01:10:20,100
We've said this before, you are 
buying the digital Beanie 

1249
01:10:20,100 --> 01:10:21,200
Babies. 
Okay. 

1250
01:10:21,200 --> 01:10:25,100
You are buying them. 
I just a side note because that 

1251
01:10:25,100 --> 01:10:27,100
kind of reminds me of the 
Segway. 

1252
01:10:27,500 --> 01:10:30,100
It's completely unrelated, but 
it's a fun fact. 

1253
01:10:30,200 --> 01:10:32,400
Okay, he's got a light up one 
wheel. 

1254
01:10:32,400 --> 01:10:34,800
Nico, what isn't there? 
Not to like about this. 

1255
01:10:34,800 --> 01:10:40,500
You guys know that the guy that 
invented the Segway Do you know 

1256
01:10:40,500 --> 01:10:44,800
how he died? 
No, he fell off a cliff riding a

1257
01:10:44,800 --> 01:10:46,200
Segway. 
What? 

1258
01:10:46,800 --> 01:10:52,400
Yes, I did not know that. 
Did he did he lean forward and 

1259
01:10:52,400 --> 01:10:54,300
step back? 
I don't know laughing. 

1260
01:10:54,300 --> 01:10:58,300
I shouldn't be laughing because 
he died my Clash very sad, but 

1261
01:10:58,300 --> 01:11:01,600
like many ways, it just reminded
me of that because the guy was 

1262
01:11:01,600 --> 01:11:04,300
riding a one wheel and I was 
expecting him to fall off the 

1263
01:11:04,300 --> 01:11:08,500
stage but he didn't, well don't 
get me wrong, that kind of would

1264
01:11:08,500 --> 01:11:10,800
have been par for the course 
with NF tease, you know? 

1265
01:11:15,100 --> 01:11:18,200
Okay, okay. 
Oh, all joking. 

1266
01:11:18,200 --> 01:11:21,200
Aside, let's get into the 
serious part of the fail. 

1267
01:11:21,200 --> 01:11:22,700
The serious fail. 
Okay. 

1268
01:11:22,700 --> 01:11:24,200
Exactly. 
Okay, good. 

1269
01:11:24,300 --> 01:11:26,300
You know what? 
You know that we had to do this,

1270
01:11:26,300 --> 01:11:27,500
you know, that we had to do 
this. 

1271
01:11:27,500 --> 01:11:31,500
Okay, so look that's right. 
It's been a while since we don't

1272
01:11:31,500 --> 01:11:35,100
always pick on bsv but when we 
do, it's always comical. 

1273
01:11:35,300 --> 01:11:39,000
So here we go. 
This is an article featured on 

1274
01:11:39,000 --> 01:11:42,500
coin geek which by the way is 
owned by Calvin Eyre. 

1275
01:11:42,800 --> 01:11:49,400
Who is We'll use right-hand man.
And in my opinion the person who

1276
01:11:49,400 --> 01:11:51,900
funds all of the bsv 
shenanigans. 

1277
01:11:51,900 --> 01:11:53,600
I know the people like to think 
that Craig is Rich. 

1278
01:11:53,600 --> 01:11:56,100
I think it's just a load of crap
and I think it's all Calvin 

1279
01:11:56,100 --> 01:11:58,700
Eyre. 
That is my opinion, I digress. 

1280
01:11:58,800 --> 01:12:05,400
Okay so this article sir Toshi 
with women of bsv Education 

1281
01:12:05,800 --> 01:12:10,500
quintessential for Bitcoin and 
you'll notice with with the bsv 

1282
01:12:10,500 --> 01:12:13,300
years, they never talk about 
Bitcoin SV. 

1283
01:12:13,500 --> 01:12:17,300
They only talk about Out BTC 
Bitcoin, but they're really 

1284
01:12:17,300 --> 01:12:20,700
selling you bsv because they've 
created this. 

1285
01:12:20,700 --> 01:12:27,000
Insane. 
Drug-induced illusion that bsv 

1286
01:12:27,600 --> 01:12:31,400
is actual Bitcoin, even though 
it's a fork of a fork. 

1287
01:12:31,800 --> 01:12:34,900
But again, I digress and we 
continue on into this article. 

1288
01:12:35,000 --> 01:12:37,300
And, again, says nothing to do 
with the whole thing about 

1289
01:12:37,300 --> 01:12:41,000
women, my and what they're 
trying to convince people of 

1290
01:12:41,000 --> 01:12:42,900
what this has to do with is the 
messaging. 

1291
01:12:42,900 --> 01:12:47,000
So let's dive into the Messaging
that's being given from Sir 

1292
01:12:47,000 --> 01:12:48,400
Toshi. 
Here we go. 

1293
01:12:49,300 --> 01:12:52,900
Mentioned in his interview that 
he did extensive research about 

1294
01:12:52,900 --> 01:12:58,400
who Satoshi Nakamoto was and 
discovered that it was obviously

1295
01:12:58,900 --> 01:13:00,900
dr. 
Craig s. 

1296
01:13:01,000 --> 01:13:04,000
Right? 
Interesting interesting, 

1297
01:13:04,000 --> 01:13:07,500
understand the context, hold on.
So dude, it's just a 

1298
01:13:07,600 --> 01:13:10,400
essentially, it's an interview, 
it's an interview with the women

1299
01:13:10,400 --> 01:13:15,000
of BS, V the women of BS, VBS 
Satoshi AKA Amos. 

1300
01:13:15,200 --> 01:13:18,000
So where do we making fun of 
Soto Sheamus defender of of 

1301
01:13:18,000 --> 01:13:20,300
Bitcoin, right? 
Okay, yeah, yeah. 

1302
01:13:20,300 --> 01:13:22,900
He's look it's just that look, 
dude, it's a shit coiner and 

1303
01:13:22,900 --> 01:13:26,200
they're having an interview and 
he's explaining why bsv. 

1304
01:13:26,500 --> 01:13:29,600
Okay that that's all it is. 
It's okay, the context is 

1305
01:13:29,600 --> 01:13:32,300
nonsense because this shit coins
nonsense, they're all nonsense, 

1306
01:13:32,600 --> 01:13:34,300
does it matter? 
We're just making fun of it. 

1307
01:13:34,600 --> 01:13:36,300
That's all. 
So here we go. 

1308
01:13:36,400 --> 01:13:39,300
The fundamental, the fundamental
value is how neutral it is 

1309
01:13:39,300 --> 01:13:42,700
because the money has to be 
neutral, so people can trust the

1310
01:13:42,700 --> 01:13:48,200
network where know, One has any 
control over their money. 

1311
01:13:48,600 --> 01:13:50,100
Okay. 
So keep in mind, the two points 

1312
01:13:50,100 --> 01:13:52,400
that have been made. 
Craig Wright is definitely 

1313
01:13:52,400 --> 01:13:56,900
Satoshi and the fundamental 
value is how neutral the money 

1314
01:13:56,900 --> 01:14:00,400
is. 
And that people can trust the 

1315
01:14:00,400 --> 01:14:02,600
network. 
Keep in mind, actual Bitcoin is 

1316
01:14:02,600 --> 01:14:08,100
trust minimized, keep in mind 
satoshi's multiple quotes about 

1317
01:14:08,700 --> 01:14:12,500
minimizing trust in money. 
So it's interesting that Craig 

1318
01:14:12,500 --> 01:14:16,500
Wright, who is Satoshi? 
Is talking about trusting the 

1319
01:14:16,500 --> 01:14:19,400
network and not only that but 
the point of bsv is that we 

1320
01:14:19,400 --> 01:14:21,600
should be able to trust the 
network. 

1321
01:14:21,700 --> 01:14:24,400
Anyways, according to the 
Bitcoin, white paper, there is 

1322
01:14:24,400 --> 01:14:27,800
no central point of Authority or
control, which means it could be

1323
01:14:27,800 --> 01:14:30,700
manipulated, which means it 
could be manipulated to be 

1324
01:14:30,700 --> 01:14:33,400
controlled. 
But if you do that, you 

1325
01:14:33,400 --> 01:14:36,200
manipulate its value. 
I don't even understand what I 

1326
01:14:36,208 --> 01:14:38,700
just read to you. 
That doesn't make any sense to 

1327
01:14:38,708 --> 01:14:43,100
me whatsoever. 
I this is mind-blowing so 

1328
01:14:43,100 --> 01:14:46,400
somehow if it's deep Centralized
and has no central point of 

1329
01:14:46,400 --> 01:14:48,900
authority. 
It could be manipulated and 

1330
01:14:48,900 --> 01:14:52,200
controlled because it doesn't 
have a central point of 

1331
01:14:52,200 --> 01:14:55,500
authority, but the authority 
would manipulate and control, it

1332
01:14:55,500 --> 01:14:56,900
doesn't matter. 
Everyone's confused, I'm 

1333
01:14:56,900 --> 01:15:00,400
confused as well. 
So all these BTC people have 

1334
01:15:00,400 --> 01:15:03,500
done talking about us, by the 
way, the, the Bitcoin maximalist

1335
01:15:03,500 --> 01:15:06,000
that the people that are 
sticking to the original chain. 

1336
01:15:06,300 --> 01:15:09,900
Anyways, all these BTC people 
have done, is they segregated 

1337
01:15:09,900 --> 01:15:14,200
the signatures which means they 
centrally control the network. 

1338
01:15:14,200 --> 01:15:16,400
I'm You these people are 
smoking. 

1339
01:15:16,400 --> 01:15:19,800
Crack projection bro. 
These projections mean, it's 

1340
01:15:19,800 --> 01:15:23,900
projection, okay, they've turned
BTC into a security. 

1341
01:15:24,200 --> 01:15:26,800
That's a matter of opinion. 
Bitcoin is not a security. 

1342
01:15:26,800 --> 01:15:30,100
There was no initial public 
offering there was no initial 

1343
01:15:30,200 --> 01:15:35,300
coin offering. 
Anyways this means they are now 

1344
01:15:35,300 --> 01:15:39,700
not accountable to anybody. 
But he just said that it was 

1345
01:15:39,800 --> 01:15:43,700
centrally could be centrally 
controlled has no fundamental 

1346
01:15:43,700 --> 01:15:47,100
value. 
As And that means all it has got

1347
01:15:47,100 --> 01:15:50,800
is the speculative price. 
Certo she pointed out. 

1348
01:15:50,800 --> 01:15:54,000
So this is the education that is
being given to the quote-unquote

1349
01:15:54,100 --> 01:15:57,300
women of bsv. 
People do not realize this right

1350
01:15:57,300 --> 01:16:00,500
now but when education catches 
up with speculation it's 

1351
01:16:00,500 --> 01:16:02,000
speculative price will soon 
match. 

1352
01:16:02,000 --> 01:16:07,000
It's fun value at 0 and it won't
be able to economically sustain 

1353
01:16:07,100 --> 01:16:11,600
the network that it's support. 
That is a very interesting point

1354
01:16:12,200 --> 01:16:16,100
sustaining the work that it 
supports. 

1355
01:16:18,000 --> 01:16:22,200
But Anonymous Network and crypto
have no value as money because 

1356
01:16:22,200 --> 01:16:27,000
nobody knows who are their 
creators, and who has control 

1357
01:16:27,000 --> 01:16:31,100
over their money. 
So one of the great points about

1358
01:16:31,100 --> 01:16:34,500
Bitcoin is that there is no 
Central Authority and that we 

1359
01:16:34,500 --> 01:16:36,500
don't know who Satoshi is, it's 
fantastic. 

1360
01:16:36,500 --> 01:16:41,400
We've taken the human factor out
of the money which leaves us 

1361
01:16:41,400 --> 01:16:46,200
with simply the network. 
Now, let's dive into some 

1362
01:16:46,200 --> 01:16:48,900
interesting stuff, right? 
Because if Craig is indeed 

1363
01:16:48,900 --> 01:16:52,000
Satoshi, then back in 2020, this
couldn't have happened. 

1364
01:16:53,200 --> 01:16:57,400
Craig Wright called a fraud in a
message signed with a Bitcoin 

1365
01:16:57,400 --> 01:17:00,400
address. 
He claims to own. 

1366
01:17:00,800 --> 01:17:03,100
Oh my gosh. 
No way the credibility of Craig 

1367
01:17:03,100 --> 01:17:05,200
Wright, the Australian Tech 
entrepreneur. 

1368
01:17:05,200 --> 01:17:08,000
Who controversially claims to be
Bitcoin pseudonymous inventor, 

1369
01:17:08,100 --> 01:17:11,200
Satoshi Nakamoto has taken 
another blow in that was two 

1370
01:17:11,200 --> 01:17:13,300
years ago. 
Two years before this garbage 

1371
01:17:13,300 --> 01:17:17,200
interview was had okay two years
before this terrible article was

1372
01:17:17,200 --> 01:17:20,100
published after a list of 
Bitcoin addresses, right? 

1373
01:17:20,100 --> 01:17:22,800
At provided as being his 
Holdings in an ongoing Court. 

1374
01:17:23,000 --> 01:17:26,000
These were briefly and 
inadvertently made public by 

1375
01:17:26,000 --> 01:17:30,600
plaintiffs on, May 21st, 145 of 
those addresses were used to 

1376
01:17:30,600 --> 01:17:35,500
sign a public message. 
Both calling write a fraud and 

1377
01:17:35,500 --> 01:17:37,800
making it plain that he does 
not. 

1378
01:17:37,800 --> 01:17:42,500
In fact, own or control them 
shots fired. 

1379
01:17:43,000 --> 01:17:45,700
Okay, well, let's continue on, 
right? 

1380
01:17:45,800 --> 01:17:48,600
So there was another piece about
the network sustaining its 

1381
01:17:48,600 --> 01:17:51,000
value, right? 
We're talking about the network 

1382
01:17:51,000 --> 01:17:54,300
sustaining, its value, okay? 
Well let's let's let's take a 

1383
01:17:54,300 --> 01:17:59,000
quick look over here. 
Alright, let's go over here and 

1384
01:17:59,000 --> 01:18:01,900
we're going to take a look at 
the hash rate history. 

1385
01:18:03,300 --> 01:18:07,700
So does it pulls up? 
This is Bitcoins hash rate. 

1386
01:18:07,800 --> 01:18:10,000
Okay I'm just going to scroll up
so everybody could see that. 

1387
01:18:10,000 --> 01:18:13,800
Yeah I'm not making this up. 
This is Bitcoin trust pool. 

1388
01:18:13,900 --> 01:18:16,200
Cool little site and take a look
at this. 

1389
01:18:16,700 --> 01:18:18,700
This is the hash rate of 
Bitcoin. 

1390
01:18:18,900 --> 01:18:26,000
So clearly the security and the 
energy and the and the funding 

1391
01:18:26,000 --> 01:18:29,400
that's going into Bitcoin is 
ever increasing. 

1392
01:18:30,000 --> 01:18:34,600
Ipso facto making the network 
more Here and allowing the 

1393
01:18:34,600 --> 01:18:37,800
network to grow by contrast. 
Let's go. 

1394
01:18:37,800 --> 01:18:41,000
Take a look at bsv for a second.
All right. 

1395
01:18:41,300 --> 01:18:42,500
Take a look at bsv. 
Let's go. 

1396
01:18:42,500 --> 01:18:45,400
Take a look at bsp's hash rate. 
History here for a second. 

1397
01:18:48,000 --> 01:18:49,700
Or not. 
Maybe it doesn't even pull up 

1398
01:18:49,800 --> 01:18:53,200
who knows? 
Maybe I have to hit refresh and 

1399
01:18:53,200 --> 01:18:55,300
go to the next one. 
Phil go. 

1400
01:18:55,300 --> 01:18:57,600
You could you see the oh they're
weak. 

1401
01:18:57,600 --> 01:19:00,000
No, no no, I was trying to get, 
I don't know. 

1402
01:19:00,000 --> 01:19:01,800
Maybe I'll here we go. 
Okay, now it's actually going to

1403
01:19:01,808 --> 01:19:03,900
pull up. 
Okay sorry about that. 

1404
01:19:04,600 --> 01:19:07,300
There we go. 
And here is BS. 

1405
01:19:07,300 --> 01:19:12,500
V's hash rate That doesn't look 
like the network is being 

1406
01:19:12,500 --> 01:19:14,500
secured. 
Now, this is just a small 

1407
01:19:14,500 --> 01:19:17,400
Snapshot from 2019. 
Why Don't We compare the two 

1408
01:19:17,400 --> 01:19:21,100
which we've done in the past. 
Okay, we've done this in the 

1409
01:19:21,100 --> 01:19:24,000
past and we've shown you. 
So take a look in blue. 

1410
01:19:24,100 --> 01:19:30,400
Is the Bitcoin hash rate in red 
is the bsv hash rate and you'll 

1411
01:19:30,400 --> 01:19:34,900
notice it is completely a 
flatline. 

1412
01:19:35,100 --> 01:19:40,700
No one is securing this network.
Now, the other piece To this, I 

1413
01:19:40,708 --> 01:19:43,100
just want to draw attention back
to this. 

1414
01:19:43,600 --> 01:19:46,100
Let's take a look at some of the
centralization of these mining 

1415
01:19:46,100 --> 01:19:48,600
pools, right? 
So you've got SPI crypto that 

1416
01:19:48,600 --> 01:19:53,500
owns 27.4%. 
Of the hash power for bsv. 

1417
01:19:53,600 --> 01:19:57,700
Sorry, they control or 27.4% of 
bsp's. 

1418
01:19:57,700 --> 01:20:00,100
Hash Power is coming through 
that pool and now you've got 

1419
01:20:00,100 --> 01:20:06,000
this other one towel.com 24.4%. 
So just these two pools alone. 

1420
01:20:07,500 --> 01:20:12,200
Alone can go and dominate, the 
bsv, hash power, that's actually

1421
01:20:12,200 --> 01:20:14,900
pretty scary. 
If you contrast that back to 

1422
01:20:14,900 --> 01:20:17,800
bitcoin It's a very different 
story. 

1423
01:20:17,900 --> 01:20:21,800
Certainly you have one player 
Foundry digital at 23%, but none

1424
01:20:21,800 --> 01:20:24,900
of the others you've got. 
You don't have another player 

1425
01:20:24,900 --> 01:20:27,500
that you can combine that can go
in cause any kind of problems. 

1426
01:20:27,700 --> 01:20:31,700
And the other piece to this is, 
is that on the Bitcoin Network, 

1427
01:20:31,700 --> 01:20:34,200
you have the validating notes, 
okay? 

1428
01:20:34,300 --> 01:20:38,300
So at the end of the day, you've
got the mining Network and you 

1429
01:20:38,300 --> 01:20:42,800
have the validation Network. 
So if the Bitcoin core, if the 

1430
01:20:42,800 --> 01:20:47,700
Bitcoin core software, if you 
don't choose to Great it to 

1431
01:20:47,700 --> 01:20:49,500
something else to a fork or 
whatever. 

1432
01:20:49,500 --> 01:20:53,400
It is then, guess what? 
Nobody can do anything. 

1433
01:20:53,500 --> 01:20:55,600
It's all up to you. 
And this is one of the reasons 

1434
01:20:55,600 --> 01:21:00,000
that we tell you that you need 
to run your own node and just 

1435
01:21:00,000 --> 01:21:02,900
the the last piece to this K. 
The last piece to this bsv 

1436
01:21:02,900 --> 01:21:05,900
nonsense which I thought was 
absolutely hilarious to tweet 

1437
01:21:05,900 --> 01:21:10,500
from Peter, Scott Morgan. 
So it looks like another company

1438
01:21:10,500 --> 01:21:15,200
has taken bsv off of their 
exchange. 

1439
01:21:15,200 --> 01:21:16,300
So here we go. 
Block chair. 

1440
01:21:16,500 --> 01:21:18,400
We are not supporting bsv 
anymore. 

1441
01:21:18,500 --> 01:21:24,300
B SV Y, block chair. 
It's just 99% unprofitable junk 

1442
01:21:24,800 --> 01:21:28,400
and let's just take a quick look
at the screenshots, okay, so 

1443
01:21:28,400 --> 01:21:31,700
here we go, this is from block 
chair, please note, we're going 

1444
01:21:31,700 --> 01:21:36,000
to be dropping full support with
guaranteed data consistency for 

1445
01:21:36,000 --> 01:21:40,000
Bitcoin, SV in the coming weeks.
Please use another Bitcoin SV 

1446
01:21:40,000 --> 01:21:43,000
data provider. 
If it's crucial to your 

1447
01:21:43,000 --> 01:21:46,300
business, the announcement will 
be made through our API. 

1448
01:21:46,500 --> 01:21:51,300
Versioning system. 
And a follow-up to that. 

1449
01:21:51,400 --> 01:21:58,500
The reality is is that 99.99% of
Bitcoin SV, transactions are 

1450
01:21:58,500 --> 01:22:06,000
junk Bitcoin SV constitutes only
0.3% of our visitor numbers. 

1451
01:22:06,300 --> 01:22:09,400
If you have to buy 10 racks of 
servers to validate the 

1452
01:22:09,400 --> 01:22:14,700
blockchain, but you only have 
ten clients paying trading fees,

1453
01:22:15,000 --> 01:22:19,900
you will go bankrupt. 
So It's a very dangerous 

1454
01:22:19,900 --> 01:22:22,900
narrative, okay? 
That these shit coiners like to 

1455
01:22:22,900 --> 01:22:27,400
spread and especially the bsv 
crowd, it's incredibly 

1456
01:22:27,400 --> 01:22:29,800
disingenuous, it's very 
dangerous. 

1457
01:22:29,800 --> 01:22:33,500
We just showed you how 
everything that Certo, she said 

1458
01:22:33,500 --> 01:22:39,400
in this article to the women of 
bsv is completely false and 

1459
01:22:39,400 --> 01:22:44,400
these people have absolutely no,
shame, no, shame whatsoever. 

1460
01:22:44,600 --> 01:22:47,300
It just never stops. 
There's even one person that 

1461
01:22:47,300 --> 01:22:49,900
claims to be a Bitcoin 
historian. 

1462
01:22:51,000 --> 01:22:52,300
Just not even credentials for 
that. 

1463
01:22:52,300 --> 01:22:54,900
There's nothing. 
None of that is real. 

1464
01:22:55,300 --> 01:22:59,800
And yet, these people in their 
illusion, just completely ignore

1465
01:22:59,800 --> 01:23:04,400
reality, ignore facts, and just 
keep going on and on pretending.

1466
01:23:04,600 --> 01:23:07,900
And by doing this, they're 
hurting individual that they're 

1467
01:23:07,900 --> 01:23:09,600
hurting individuals. 
Okay. 

1468
01:23:09,800 --> 01:23:12,600
And believe it or not, they're 
not only shooting themselves in 

1469
01:23:12,600 --> 01:23:15,200
the foot. 
They're also, they're also 

1470
01:23:15,200 --> 01:23:20,100
actually causing problems for 
Bitcoin because this creates 

1471
01:23:20,100 --> 01:23:24,400
confusion And this confusion 
turns people off. 

1472
01:23:25,600 --> 01:23:29,200
Anyways, I just had to go 
through that, I'm sorry, it's 

1473
01:23:29,200 --> 01:23:32,400
just, I saw that article and it 
just had me spinning, man. 

1474
01:23:32,500 --> 01:23:37,800
It had me spin. 
So another thing right that the 

1475
01:23:38,500 --> 01:23:43,600
Bitcoin cash, sorry, yeah it 
could be because maybe bsv 

1476
01:23:43,600 --> 01:23:45,900
whatever. 
It's all the same strategy we 

1477
01:23:45,900 --> 01:23:49,600
got 51 percent attacked because 
that's how.com it was funny 

1478
01:23:49,600 --> 01:23:52,900
because we called this A day 
before it happened, it was like,

1479
01:23:52,900 --> 01:23:55,400
it was like 50 percent, they 
controlled 50% of the hash rate 

1480
01:23:55,400 --> 01:23:57,200
at one point. 
And I called that they perform, 

1481
01:23:57,200 --> 01:23:59,500
like they're gonna get 51%. 
And that literally happened the 

1482
01:23:59,508 --> 01:24:05,200
next day it's garbage and he's 
just projecting and that that 

1483
01:24:05,200 --> 01:24:08,800
inner in that interview, it's 
just, it's man, it's despicable,

1484
01:24:09,200 --> 01:24:11,600
he's attacking hob, not, it's 
disgusting. 

1485
01:24:12,200 --> 01:24:14,000
Yeah, this guy's an enemy of 
Bitcoin. 

1486
01:24:14,000 --> 01:24:16,200
Therefore he's an enemy of 
freedom and Humanity. 

1487
01:24:16,500 --> 01:24:18,300
Anyways Mark, what are your 
thoughts? 

1488
01:24:20,400 --> 01:24:26,100
Give me a, give me an L, so many
of the projects outside of 

1489
01:24:26,100 --> 01:24:29,100
Bitcoin. 
Start adopting Bitcoin 

1490
01:24:29,100 --> 01:24:30,700
narratives. 
We've seen that over the years 

1491
01:24:30,700 --> 01:24:34,200
like even after we launched a 
podcast you started seeing Emma 

1492
01:24:34,300 --> 01:24:40,300
and of tease you know for social
justice and cryptos for social 

1493
01:24:40,300 --> 01:24:41,800
justice etc. 
Etc. 

1494
01:24:43,300 --> 01:24:49,000
And etherium you know, again 
with with their desire to be 

1495
01:24:49,400 --> 01:24:54,700
claiming What they always end up
doing is trying to say that 

1496
01:24:54,700 --> 01:24:57,100
they're better at the property. 
Is that Bitcoin is? 

1497
01:24:57,100 --> 01:25:00,100
And so it's the same same 
storyline with all these other 

1498
01:25:00,100 --> 01:25:05,000
things is they try to become 
better, they don't they don't 

1499
01:25:05,000 --> 01:25:07,700
try to say that they're better 
in some unique manner. 

1500
01:25:07,700 --> 01:25:11,600
But rather the things that 
Bitcoin is they say that they're

1501
01:25:11,600 --> 01:25:13,300
doing better when obviously 
that's not the case. 

1502
01:25:13,300 --> 01:25:17,500
But to your point. 
Yeah, it's deeply destructive 

1503
01:25:17,500 --> 01:25:23,900
for Bitcoin and And which means 
its destructive for the people 

1504
01:25:23,900 --> 01:25:27,000
who are not in Bitcoin because 
they get scammed out of 

1505
01:25:29,400 --> 01:25:32,800
everything. 
Absolutely Tom, what are your 

1506
01:25:32,808 --> 01:25:35,700
thoughts? 
My friend, it's morally bankrupt

1507
01:25:35,700 --> 01:25:41,900
people trying to make people 
regular bankrupt very well said,

1508
01:25:42,000 --> 01:25:44,600
that's what I got. 
That's like signal right there. 

1509
01:25:44,600 --> 01:25:47,100
My crop. 
But anyways, Phil it's time for 

1510
01:25:47,100 --> 01:25:50,000
the daily meme review brought to
you by sea. 

1511
01:25:50,200 --> 01:25:54,600
L21, it's the best Bitcoin 
cultural Zine it's stories 

1512
01:25:54,600 --> 01:25:57,900
articles Comics by actual 
bitcoiners is artwork for 

1513
01:25:57,900 --> 01:26:00,400
volume. 
Attend is artwork for volume 2 

1514
01:26:00,800 --> 01:26:02,400
and this is artwork for volume 
11. 

1515
01:26:02,400 --> 01:26:05,500
Volume 2 is almost sold out 
because there's only 1000 

1516
01:26:05,500 --> 01:26:09,800
physical copies made per volume.
So get your prints of Citadel 21

1517
01:26:09,800 --> 01:26:13,000
today before they run out. 
All right, everybody Welcome to 

1518
01:26:13,000 --> 01:26:15,500
the Bitcoin review review 
Bitcoin, memes. 

1519
01:26:15,500 --> 01:26:19,100
Memes on a plate, in a central 
role in, not only Bitcoin 

1520
01:26:19,100 --> 01:26:22,300
culture, but in this Narrative 
trench warfare that we fight 

1521
01:26:22,300 --> 01:26:25,000
every day on the Battlegrounds 
of the internet. 

1522
01:26:25,000 --> 01:26:27,700
Anyways here's the first mean by
Rasmus. 

1523
01:26:27,900 --> 01:26:30,300
It's the Lord of the Rings 
template for any for audio 

1524
01:26:30,300 --> 01:26:31,700
listeners. 
Inflation. 

1525
01:26:31,900 --> 01:26:34,200
Stop Printing spending money, 
destroy it. 

1526
01:26:34,900 --> 01:26:39,400
Republicans and Democrats know, 
I chose this one on purpose. 

1527
01:26:40,800 --> 01:26:42,400
All right. 
Next one by the Beats 

1528
01:26:42,400 --> 01:26:46,100
coordinator, you will lose 
everything, Infinity divided by 

1529
01:26:46,100 --> 01:26:47,300
21 million. 
That's right. 

1530
01:26:47,300 --> 01:26:53,700
Bitcoin is the Lifeboat. 
Next one, bye Nico bit because 

1531
01:26:53,700 --> 01:26:57,600
son anyways, simply Bitcoin 
corn, Acres disguising himself, 

1532
01:26:57,800 --> 01:27:01,000
driving into the garbage coins, 
narrative, hiding observing, 

1533
01:27:01,000 --> 01:27:05,300
preparing to strike and exposing
them with one swift blow made 

1534
01:27:05,300 --> 01:27:08,900
myself a ghillie suit for when 
Woolworths restarts and I have 

1535
01:27:08,900 --> 01:27:12,300
to be near Seattle. 
Know, why did you pick this one?

1536
01:27:12,300 --> 01:27:14,600
Right fuckers. 
Because because I thought it was

1537
01:27:14,600 --> 01:27:17,100
hilarious. 
Manny dressing up and shit 

1538
01:27:17,100 --> 01:27:19,800
coins, but he's okay. 
Next one. 

1539
01:27:19,800 --> 01:27:20,300
Bye. 
Bye. 

1540
01:27:20,300 --> 01:27:23,300
Giggles were plebs waiting for 
the supercycle. 

1541
01:27:24,200 --> 01:27:29,200
I did sell I thought this dip. 
Oh man Samuel bringing out the 

1542
01:27:29,200 --> 01:27:31,200
guns. 
All right, next one up. 

1543
01:27:31,200 --> 01:27:33,700
Documenting be quit. 
Unfortunately deleted the Tweet 

1544
01:27:33,700 --> 01:27:37,300
but the meme is still there as 
he watched the price fall from 

1545
01:27:37,300 --> 01:27:41,300
69,000 to 18K, Joseph was 
cathartic. 

1546
01:27:41,400 --> 01:27:45,000
Thanks to his above-average IQ. 
He was successfully avoided the 

1547
01:27:45,000 --> 01:27:49,500
Bitcoin scam, since it was only 
three dollars hahaha. 

1548
01:27:50,600 --> 01:27:53,400
Alright next one. 
Bye then delay. 

1549
01:27:53,400 --> 01:27:56,800
I don't understand why I'm poor.
Did you invest in shit coins? 

1550
01:27:56,800 --> 01:28:00,000
Trying to prove bitcoiners wrong
the hug and he's holding a 

1551
01:28:00,000 --> 01:28:03,500
theory of absolutely. 
Awesome means for those awesome 

1552
01:28:03,500 --> 01:28:05,000
memes. 
I'm going to give it this 

1553
01:28:05,000 --> 01:28:09,400
awesome score of descriptive. 
Cloaks graffiti sticker. 

1554
01:28:09,800 --> 01:28:11,700
That came with the painting that
I bought. 

1555
01:28:11,700 --> 01:28:13,900
What about you feel? 
Very nice. 

1556
01:28:13,900 --> 01:28:17,400
Very nice crypto, graffiti does 
amazing work and I also love his

1557
01:28:17,400 --> 01:28:19,400
t-shirts. 
Good shirts there anyways. 

1558
01:28:20,300 --> 01:28:23,500
Or the score. 
I am going to give it this new 

1559
01:28:24,000 --> 01:28:27,200
ripping dips, Tipper sticker 
pack, ripping dipsticks, not the

1560
01:28:27,200 --> 01:28:28,800
same one as the last sticker 
pack. 

1561
01:28:29,100 --> 01:28:30,800
Tom, what would you give those 
memes? 

1562
01:28:31,800 --> 01:28:34,100
I'm gonna give those memes my 
fountain pen right here. 

1563
01:28:35,000 --> 01:28:37,200
Good one down is mightier than 
the sword. 

1564
01:28:37,200 --> 01:28:39,900
This is true. 
Mark, what would you give those 

1565
01:28:39,900 --> 01:28:41,000
memes? 
You made it. 

1566
01:28:41,000 --> 01:28:43,300
There we go. 
Memes are only fit fitting for 

1567
01:28:43,700 --> 01:28:46,500
PAW Patrol. 
PAW Patrol bag. 

1568
01:28:46,700 --> 01:28:50,000
All right, I feel feels jealous 
because he likes all that. 

1569
01:28:50,200 --> 01:28:52,000
Stuff. 
Anyways, guys, we want to know 

1570
01:28:52,000 --> 01:28:55,100
if you agree with their scores, 
you disagree, let us know down 

1571
01:28:55,100 --> 01:28:58,900
in the comment section. 
Make sure to subscribe to us on 

1572
01:28:58,908 --> 01:29:01,000
alternative video platforms like
Rumble.com. 

1573
01:29:01,000 --> 01:29:05,900
My personal favorite Bitcoin, 
tv.com and join our telegram 

1574
01:29:05,900 --> 01:29:07,400
group. 
It's a party in there. 

1575
01:29:07,400 --> 01:29:09,200
Yeah. 
And if you're listening to the 

1576
01:29:09,200 --> 01:29:13,500
audio version of this show, make
sure to stay after the show for 

1577
01:29:13,500 --> 01:29:16,300
a live Q&A. 
Anyways Phil it's time for. 

1578
01:29:16,300 --> 01:29:18,000
No, it's not time for anything. 
There was an open source 

1579
01:29:18,000 --> 01:29:20,100
software released today. 
What is everybody about it? 

1580
01:29:20,200 --> 01:29:25,000
Software releases brought to you
by Cipher safe, check them out. 

1581
01:29:25,100 --> 01:29:29,500
Seifer safe dot IO papers dead. 
It's not the right way to store 

1582
01:29:29,500 --> 01:29:34,500
your seed store, your seed, in 
the all new Cipher Grid or the 

1583
01:29:34,500 --> 01:29:37,000
Cipher wheel. 
They both come with a 

1584
01:29:37,008 --> 01:29:40,500
tamper-resistant wire and the 
grid also comes with a punch 

1585
01:29:40,500 --> 01:29:43,500
tool. 
All right, we've got Fountain 

1586
01:29:43,500 --> 01:29:47,600
podcast version 0.40. 
That's right. 

1587
01:29:47,600 --> 01:29:51,100
If you're streaming SATs you are
most likely E using Fountain. 

1588
01:29:51,100 --> 01:29:54,500
They've got a new version. 
The link is down below and guys,

1589
01:29:54,600 --> 01:29:56,400
don't forget to check us out on 
our Audio. 

1590
01:29:56,400 --> 01:30:00,600
Only platforms Apple podcasts 
Spotify and anchor. 

1591
01:30:00,600 --> 01:30:02,900
If you want to stream assets, 
Fountain dot f m--. 

1592
01:30:02,900 --> 01:30:04,600
You could stream assets to 
Breeze. 

1593
01:30:04,700 --> 01:30:07,100
Awesome, thank you for all right
guys, that was our show before 

1594
01:30:07,100 --> 01:30:09,500
we going to give a very special 
shout-out to our clothing. 

1595
01:30:09,500 --> 01:30:13,700
Sponsor, represent LTD.com Phil 
and I wear the hoodies every 

1596
01:30:13,700 --> 01:30:16,300
single day he makes Bitcoin 
merch. 

1597
01:30:16,400 --> 01:30:19,600
He's making simply Bitcoin 
marriage, it's comfortable its 

1598
01:30:19,600 --> 01:30:23,000
Style. 
Check out represent LTD.com and 

1599
01:30:23,000 --> 01:30:25,900
take advantage of the promo code
down below to get 10% off. 

1600
01:30:25,900 --> 01:30:28,900
Also, check out fellow plebs. 
Awesome blog. 

1601
01:30:28,900 --> 01:30:32,200
It's called The Bear Market 
Diaries where he interviews 

1602
01:30:32,200 --> 01:30:35,500
plebs about their bear market 
experience especially if this is

1603
01:30:35,508 --> 01:30:37,400
your first bear Market. 
You definitely want to check 

1604
01:30:37,400 --> 01:30:40,000
that out. 
Also want to give a very special

1605
01:30:40,000 --> 01:30:45,100
shout-out to our awesome guest 
Mark and Tom, definitely go 

1606
01:30:45,100 --> 01:30:47,400
check out their podcast and 
their Twitter account. 

1607
01:30:47,400 --> 01:30:49,900
The Twitter account is the 
progressive Bitcoin ter. 

1608
01:30:50,100 --> 01:30:53,100
Check out their pod CAD podcast 
the fountain, I'll put the 

1609
01:30:53,100 --> 01:30:56,000
fountain link below. 
Anyways guys, that was our show 

1610
01:30:56,100 --> 01:31:00,100
if you enjoyed the show, you 
know, it's due course if you can

1611
01:31:00,100 --> 01:31:02,200
see me during the Bitcoin use 
from the Polly Platt 

1612
01:31:02,200 --> 01:31:05,700
perspective, catastrophic fails 
and the memes definitely 

1613
01:31:05,700 --> 01:31:08,900
consider subscribing. 
So you simply Bitcoin and we'll 

1614
01:31:08,900 --> 01:31:12,100
see you tomorrow guys for a 
brand new episode and a shorter 

1615
01:31:12,100 --> 01:31:15,800
one to quote, our awesome, one 
of our awesome guest morally 

1616
01:31:15,800 --> 01:31:18,700
bankrupt. 
People making regular people 

1617
01:31:18,700 --> 01:31:19,500
bankrupt.