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Welcome back everyone. 
We're simply Bitcoin. 

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This is the weekend edition. 
We break down the news. 

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The daily fail mean review, 
software releases Hardware, 

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releases and the pleb sites. 
Joining us today. 

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We've got the CEO and co-founder
of LOL e.com. 

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I'm talking about Alex Adelman, 
Alex, thank you very much for 

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joining us. 
Good to be here. 

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Thank you for having me. 
Awesome, yet. 

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Great way to Kick off the 
weekend. 

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Alright, we are diving into the 
numbers. 

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Let's do it. 
Nico number time, brought to you

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by not all they make some of the
best Bitcoin notes like the 

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novel won, the one. 
I'm holding in my hand run 

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Whirlpool, Bitcoin core and the 
lightning Network, all in the 

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comfort of your own home. 
Remember guys, if you don't run 

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your own Bitcoin node, you're 
using someone else's. 

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So get yourself a Bitcoin node 
today, like the nozzle, at the 

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time of this recording, the 
block height is 740, 1189 the 

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Bitcoin price 20,000 for 420 
anyways, chain rewrite day 746. 

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Total public lightning capacity,
3990 1.16 Moscow, time 48, 97 

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blocks to the having 90 8811 and
the samurai Whirlpool unspent 

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capacity, Samurai Whirlpool is a
coin joint or collaborative 

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spend, it is not a mixing 
service and the unspent capacity

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for that pool is 4675 Dot. 33, B
TC. 

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Still a stable coin, Nico. 
Even at this level, I'm still 

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gonna call it, I'm still gonna 
say it's a stable. 

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Quite I know people are gonna 
hate me for it, but it doesn't 

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matter. 
These were the uneventful 

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numbers my friend. 
It was a stable coin for quite a

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while when Bitcoin was at 30k. 
Anyways, some signal today. 

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Listen I think central Bankers 
are admitting defeat or at least

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they're not admitting defeat but
at least they are seeing the 

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inevitable let me make my case. 
Okay let me make my case 

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anyways, let's pull this. 
Bye. 

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This is an article by Watcher 
dot Guru. 

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It says Fabio Panetta, a member 
of the of the European Central 

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bank's. 
Executive board says that the 

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supply of digital Euro will be 
limited to a maximum of 1.5 

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trillion. 
Why would they cap something? 

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What is that? 
What is that sound familiar of? 

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It looks like to me, they're 
trying to incentivize people. 

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Hey look at Bitcoins 21 million 
off Central bankers. 

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Do the same. 
We know that's not true. 

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As soon as there's a little bit 
of political pressure, they will

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increase that Supply, but it 
sure he'll is a good marketing 

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tool. 
We also had this come out today.

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This was a video clip I 
disclosed on TV. 

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They do a great job by the way 
and this is Jerome Powell. 

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Let's see what he has to say. 
The Tweet says Powell rapid 

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changes are taking place in the 
global monetary system that may 

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affect the international role of
the dollar, a US Central Bank. 

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Digital And C is being examined 
to help the u.s. dollars 

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International standing. 
Looking forward. 

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Rapid changes are taking place 
in the global monetary system 

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that may affect the 
international role of the dollar

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in the future. 
Most major economies already 

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have or are in the process of 
developing instant 24/7 payments

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our own fed. 
Now service will be coming 

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online in 2023 and in light of 
the tremendous growth in crypto 

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assets and stable coins, we are 
examining whether a US Central 

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Bank Digital currency would 
improve upon what is an already 

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safe and efficient domestic 
payment system. 

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Our as our white paper on this 
topic notes, a USC. 

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BDC could also potentially help 
maintain the dollars 

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International standing look. 
These people have never had 

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competition and you can tell 
they've never had confidence 

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hit, but listen, if you connect 
that with what Powell was saying

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and you connect that with what 
the head or member of the ECB is

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saying, right? 
This Innovation that they're, 

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you know, the Central Bank, 
digital currencies to try to 

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remain the hopes that they try 
to remain relevant. 

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This would have never happened 
if it wasn't for Bitcoin. 

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So clearly they're feeling 
pressure here. 

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I don't think they're going to 
win, but that doesn't mean 

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they're gonna, they're not going
to try and of course because 

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their central banks, they're 
going to have the help of 

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government coercion. 
Anyways, Alex from your 

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perspective, are you seeing what
I'm seeing or I might just a 

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crazy pleb on the internet Both 
are true. 

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But I think that most important 
thing here is. 

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Yeah, I think I think for the 
first time ever Fiat has for the

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first time in a long time, Fiat 
money has a competitor, very 

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formidable, competitor, in 
Bitcoin and other 

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cryptocurrencies that are that 
are challenging it right now. 

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So I think one of the most 
interesting things right now is 

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that everyone is seeing that 
like in this time of chaos with 

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Bitcoin provides a source of 
truth that there are only 21 

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million dollar only ever be 21 
million and in a world of 

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uncertainty and Chaos, I think 
it's something that people are 

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going to be looking towards, 
especially the more that the FED

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prints trillions and trillions 
of dollars to try to correct. 

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You know, the things that are 
happening on the more than 

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macroeconomic lens. 
I think it'll just get, it's 

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going to get even more wild. 
And I think more and more people

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are going to have to learn about
Bitcoin and Retreat to bitcoin. 

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As a stable source of currency. 
Absolutely. 

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It it would have, it would have 
been impossible to manage. 

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Imagine these people, you know, 
II feel fear. 

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Like, that's what, that's what I
sense here with the, with the 

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wording, you know, with Powell 
kind of like, oh, you know, with

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our Central Bank, digital 
currency, you know, because 

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crypto payments have been so 
popular to quote him, right? 

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That's how we're going to remain
relevant. 

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But look, it's something that 
Bitcoins will always be able to 

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do and they cannot write is that
Coin won't censor and their 

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Bitcoins capped at 21 million 
and that's something that 

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government currencies will never
be able to offer anyways. 

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But what are your thoughts on on
that reaction, that video by 

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Powell and the ECB saying, 
there's going to be a one point 

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five trillion, dollar cap 
watching, but why do you believe

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them? 
No, and watching him Shake, 

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while he's reading that it's 
like holding that paper. 

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It's you know, you can tell even
he's not sure about this but 

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look You know, just to go back 
to the original point about the 

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hard cap, right? 
Hard cap, Fiat is like stopping 

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a leak with a strainer. 
I mean, really, but this is just

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Shenanigans its Illusions. 
It's still centrally controlled 

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unissued, we haven't removed the
human factor. 

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I mean, look, this is, it's 
nothing else than a gimmick. 

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Plain and simple, it is just a 
gimmick. 

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And essentially, what's really 
funny is because I'm pretty sure

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that We've had we've had people 
in the past explain how you 

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can't have a hard cap currency, 
you need to continue to print 

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more money. 
So all of a sudden because 

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remember their goal posts, just 
keep moving. 

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So now all of a sudden they're 
trying to, they're trying to 

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think like, you know what, maybe
maybe this is how we get people 

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to come back in and buy into our
system. 

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Guess what? 
This is the beauty of Bitcoin. 

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No Central entity. 
No central point of failure. 

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We don't need to trust your hard
cap. 

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We just don't need to trust it. 
That's the beauty of it. 

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They still don't get it. 
They're securing the remote. 

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They're more scared now than 
ever. 

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And to me, this is just 
entertaining and funny at this 

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point. 
Dude, it's it's absolutely 

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hilarious to watch this meltdown
but like an animal trapped into 

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a corner, that's when the most 
fish is. 

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So I suspect the social attacks 
and perhaps regulatory attacks, 

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even though that lummis bill 
makes me optimistic are 

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definitely going to increase as 
time progresses and Europe. 

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It's a little bit more hardcore 
than it is in the u.s. 

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So anyways, you protect yourself
from this by taking your Bitcoin

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into self custody which we 
advocate for every single day on

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00:08:24,300 --> 00:08:26,300
this channel. 
But anyway, Phil it's time for 

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Dot-com do you guys remember 
this? 

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Of course you guys remember 
this? 

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Because we've been covering it a
lot of made huge splashes on 

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bitcoin Twitter. 
This is the New York is New York

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Senate, New York state passed 
the bill cracking down on 

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Bitcoin mining. 
Now our perspective about this 

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is a little bit more malicious. 
The reason that we believe that 

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first of all, because we've been
covering it for over a year now.

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And in Norway some parties over 
there, some political parties 

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over there also Transit try. 
To ban Bitcoin mining but 

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interesting issue interestingly 
in Norway 100 percent of Bitcoin

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mining is powered by renewable 
energies. 

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So you know, begs the question 
are these people really 

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concerned about the renewable 
energy that Bitcoin uses or are 

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they saying? 
This is an unjustified use of 

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energy? 
Therefore, we have to ban it. 

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Now, this I would say this, this
groundbreaking report was just 

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released by Michael Kazakh. 
Name of the report is called 

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Bitcoin, crypto payments Energy,
Efficiency and does a whole 

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report. 
And he says, based on physics 

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information, science and 
economics. 

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We compute and compare the 
energy consumption. 

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And Define, what is the Energy 
Efficiency of both? 

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The current monetary payment 
system and Bitcoin crypto 

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payment system, we demonstrate 
that Bitcoin, consumes 56, Times

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less energy than the classical 
system and that even at the 

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single transaction level a 
proof-of-work. 

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Transaction provides to proves 
to be 125 times. 

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More energy. 
Efficient here is a coin 

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telegram, going Telegraph 
article and it covers more gets 

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more into the intricacies. 
The report compiles, almost a 

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four year, four years of 
research and suggest a new 

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calculation for estimating, 
Bitcoins, proof-of-work energy 

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consumption in an interview 
because akka told Cohen Cohen, 

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laughs Bitcoin lightning and 
Bitcoin in general are really 

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great and very efficient 
technological solutions, that 

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00:11:01,200 --> 00:11:03,300
deserve to be adopted on a large
scale. 

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00:11:03,600 --> 00:11:06,100
This invention. 
Invention is brilliant enough. 

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00:11:06,100 --> 00:11:09,700
Efficient enough and powerful 
enough to get Mass adoption a 

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00:11:09,700 --> 00:11:12,100
payment specialist who wrote his
dissertation is about 

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00:11:12,100 --> 00:11:16,200
cryptography in 2003 and 
discovered Bitcoin in 2011. 

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00:11:16,300 --> 00:11:19,900
Kazakh also puts the banking 
sector under the microscope to 

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00:11:19,900 --> 00:11:22,200
efficiently. 
Compare the two monetary systems

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00:11:22,300 --> 00:11:26,100
because socket old coin 
Telegraph, he really It's really

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00:11:26,100 --> 00:11:28,500
underestimates. 
Every aspect of the big of the 

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00:11:28,500 --> 00:11:32,500
banking sector and contrary to 
critics, his report is biased to

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00:11:32,500 --> 00:11:35,700
the banking system nonetheless, 
taking to account the creation 

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00:11:35,700 --> 00:11:38,100
of money, Transportation money, 
physical banking, 

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00:11:38,100 --> 00:11:39,700
infrastructure, energy 
consumption. 

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00:11:39,900 --> 00:11:44,800
He arrives at a figure of 4, 
1981 terawatt-hours. 

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00:11:44,800 --> 00:11:47,900
Rounded up to 5,000. 
Terawatt hours, is consumed by 

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the classical payment sector 
every year. 

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00:11:50,600 --> 00:11:55,700
Consequently banking uses 56 
times more energy than Bitcoin. 

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00:11:56,000 --> 00:11:57,800
And he goes on to talk about 
lightning. 

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00:11:57,800 --> 00:12:00,800
Lightning will allow the Bitcoin
protocol to be more transactions

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without consuming more energy. 
The report concludes that the 

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00:12:04,000 --> 00:12:07,400
combination of Bitcoin and the 
lightning Network allows Bitcoin

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00:12:07,400 --> 00:12:12,500
to become 194 million times more
energy efficient than a 

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00:12:12,500 --> 00:12:17,800
classical payment system. 
So I actually tweeted this out 

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00:12:19,000 --> 00:12:22,700
about a month ago. 
I when the initial New York 

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00:12:22,700 --> 00:12:26,200
mining band happened and I was 
actually attacked on Twitter by 

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00:12:26,200 --> 00:12:29,800
someone send me a DM saying the 
Bitcoin needs to be moved out of

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00:12:29,800 --> 00:12:33,300
the country. 
Bitcoin mining, just crazy stuff

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00:12:33,300 --> 00:12:36,700
and I was, Hey listen. 
If you're gonna ban Bitcoin, 

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mining are, if you're going to 
hold Bitcoin, mining to a 

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certain environmental standard, 
you should be holding the 

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00:12:42,900 --> 00:12:46,100
banking sector to a Stern. 
An environmental standard. 

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00:12:46,100 --> 00:12:49,400
But as Nick Carter perfectly 
pointed out in his reports, 

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00:12:49,400 --> 00:12:52,300
right? 
This is a question of. 

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00:12:52,300 --> 00:12:54,900
Do you see as B? 
Do you see? 

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Join as a Justified reason to 
consume energy or not. 

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00:12:59,300 --> 00:13:03,800
If you if you see it if you 
don't see it as such it's not 

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they're not going to see it as 
such, right? 

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Why don't we hold the banking 
system to the same environmental

230
00:13:09,100 --> 00:13:11,200
standard? 
Why don't we hold hair dryers to

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00:13:11,200 --> 00:13:13,200
the same environmental standard,
right? 

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00:13:13,400 --> 00:13:19,100
So look I I doubt this will be 
used because it doesn't fit 

233
00:13:19,100 --> 00:13:22,100
their narrative, but it's really
interesting and it's definitely 

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00:13:22,100 --> 00:13:24,900
a good question, right? 
And if you're in the United, 

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00:13:25,100 --> 00:13:28,200
It's you have Financial 
privilege what Alex glycine 

236
00:13:28,200 --> 00:13:30,400
always says, right? 
But if you're in a country like 

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00:13:30,400 --> 00:13:34,100
Venezuela, like Afghanistan like
Cuba, and there's no other 

238
00:13:34,100 --> 00:13:37,000
option, there's not another 
alternative monetary system that

239
00:13:37,000 --> 00:13:39,500
you could use well, right 
Bitcoin. 

240
00:13:39,500 --> 00:13:41,800
Really works for you right and 
stable coins, right? 

241
00:13:41,800 --> 00:13:43,800
They really work for you, well, 
right? 

242
00:13:43,800 --> 00:13:46,700
But if you're in the u.s. right 
and you have financial problems,

243
00:13:46,700 --> 00:13:47,700
you might be looking at 
Bitcoins. 

244
00:13:47,700 --> 00:13:50,200
Like that's just a very 
inefficient use of energy, 

245
00:13:50,200 --> 00:13:52,100
right? 
And then of course, there's a, 

246
00:13:52,100 --> 00:13:54,600
you know, the what we believe 
but of course we're a little 

247
00:13:54,600 --> 00:13:54,900
bit. 
Bye. 

248
00:13:55,000 --> 00:13:58,300
Bias because we're plebs, right?
It the malicious attacks, right?

249
00:13:58,300 --> 00:14:00,200
That they don't really care 
about the environment. 

250
00:14:00,200 --> 00:14:02,600
There's more so concerned about 
control. 

251
00:14:02,600 --> 00:14:04,800
Anyways. 
Alex what are your thoughts on 

252
00:14:04,800 --> 00:14:06,800
this? 
I'm sure you're opinionated 

253
00:14:06,800 --> 00:14:09,600
about this because you you do 
run a Bitcoin company. 

254
00:14:09,600 --> 00:14:13,600
Of course I do. 
I've been very outspoken I live 

255
00:14:13,600 --> 00:14:16,500
in New York and incredibly 
frustrated. 

256
00:14:16,500 --> 00:14:20,100
I was incredibly and frustrated 
with bit license and and have 

257
00:14:20,100 --> 00:14:24,200
been frustrated that it stayed 
as long as it has and with no no

258
00:14:24,200 --> 00:14:27,900
changes. 
Has its really crippled the 

259
00:14:28,000 --> 00:14:32,200
financial Hub of the, of the 
world being being New York. 

260
00:14:32,400 --> 00:14:36,000
We, you know, we had this 
opportunity to continue the 

261
00:14:36,000 --> 00:14:40,200
financial Innovation and 
financial dominance that New 

262
00:14:40,200 --> 00:14:44,700
York has been known for and and 
due to the like Regulators 

263
00:14:45,100 --> 00:14:50,200
incompetence, we have continued 
to move people out of the, in my

264
00:14:50,200 --> 00:14:52,800
opinion, but I think one of the 
greatest cities the world's ever

265
00:14:52,800 --> 00:14:56,500
seen. 
And so the Where we kind of go 

266
00:14:56,500 --> 00:14:59,700
in, you know, from here. 
It's like I thought we were, you

267
00:14:59,700 --> 00:15:02,200
know, Adams was coming in and I 
think he was talking about 

268
00:15:02,200 --> 00:15:05,600
banning the bit license and and 
doing what, you know, some some 

269
00:15:06,300 --> 00:15:09,500
getting to a place where we 
were, you know, able to be more 

270
00:15:09,500 --> 00:15:13,600
crypto friendly place and then 
this comes out and hi. 

271
00:15:13,600 --> 00:15:20,300
I'm I was I was extremely 
extremely upset by by this it's 

272
00:15:20,300 --> 00:15:23,400
just you read it and you read 
who's behind it and it's just 

273
00:15:23,400 --> 00:15:24,500
gross. 
Incompetence. 

274
00:15:25,100 --> 00:15:30,300
Not only is it is it hurting the
people of New York, but it's 

275
00:15:30,300 --> 00:15:33,400
like it just it made no sense. 
There wasn't it? 

276
00:15:33,408 --> 00:15:37,000
Had no understanding of stuff. 
You could just literally Google 

277
00:15:37,400 --> 00:15:40,100
that's happening. 
It's not accounting for flag 

278
00:15:40,100 --> 00:15:41,800
theory. 
That is playing out before our 

279
00:15:41,800 --> 00:15:45,500
very eyes of people going to 
Miami going to Austin like 

280
00:15:45,500 --> 00:15:47,500
fleeing starting companies in 
Texas. 

281
00:15:47,500 --> 00:15:51,400
It's like it's like we want all 
the the smart entrepreneurs that

282
00:15:51,400 --> 00:15:54,800
are trying to build something 
real in New York. 

283
00:15:55,000 --> 00:15:56,100
Art. 
And we're just saying, hey, you 

284
00:15:56,100 --> 00:15:59,100
know, we don't want you here go,
go somewhere else to go build 

285
00:15:59,100 --> 00:16:01,900
this this technology that's 
connecting the entire world 

286
00:16:01,900 --> 00:16:04,500
through money and commerce. 
Like that to me is the most 

287
00:16:04,500 --> 00:16:08,200
important thing to be built in 
financial technology. 

288
00:16:08,400 --> 00:16:10,900
We all understand what it is, we
have some of the smartest people

289
00:16:10,900 --> 00:16:14,300
in the city and we're saying hey
go go build somewhere else. 

290
00:16:14,500 --> 00:16:18,900
So really really unfortunate 
doesn't doesn't grasp the beauty

291
00:16:18,900 --> 00:16:22,300
and power of Bitcoin and Mining 
in particular. 

292
00:16:22,500 --> 00:16:26,300
So, you know, one of the one of 
the biggest things is It says oh

293
00:16:26,300 --> 00:16:29,100
we're trying to find. 
We're trying to regulate and say

294
00:16:29,200 --> 00:16:32,600
the only way is which you should
start Bitcoin, mining companies 

295
00:16:32,600 --> 00:16:36,800
in New York is if you if you are
filing that that the only 

296
00:16:36,800 --> 00:16:40,500
sources of energy are Renewables
that are coming in but it 

297
00:16:40,500 --> 00:16:42,900
doesn't account for the fact 
that like, you know, how much 

298
00:16:42,900 --> 00:16:47,900
wasted energy and is happening 
on grid that we could be turning

299
00:16:47,900 --> 00:16:52,200
into money to help save the 
economy in New York, which was 

300
00:16:52,200 --> 00:16:55,400
crippled after covid. 
So it doesn't it Out for that, 

301
00:16:55,400 --> 00:16:58,200
which, you know, it would be an 
incredible Force for the average

302
00:16:58,200 --> 00:17:01,400
person for companies to be able 
to make money and turn waste of 

303
00:17:01,400 --> 00:17:03,700
energy into something 
beneficial. 

304
00:17:04,700 --> 00:17:08,300
So, yeah, a lot of bad, a lot of
incompetence and it's very 

305
00:17:08,300 --> 00:17:10,200
frustrating from being a, being 
a Founder. 

306
00:17:10,200 --> 00:17:11,599
Who's building? 
Trying to build something very 

307
00:17:11,599 --> 00:17:14,599
real in New York. 
I agree with you. 

308
00:17:14,599 --> 00:17:16,700
I think I lived in New York for 
a little bit. 

309
00:17:16,700 --> 00:17:19,599
I think New York is the best 
city in the world, right? 

310
00:17:19,900 --> 00:17:24,500
Manhattan is such a unique 
experience, such a Vibe and 

311
00:17:24,500 --> 00:17:26,900
yeah. 
It's a shame that certain 

312
00:17:26,900 --> 00:17:30,300
politicians not only in New 
York, but around the world are 

313
00:17:30,300 --> 00:17:34,000
attacking attacking this 
Innovation that is going to 

314
00:17:34,000 --> 00:17:37,700
provide Financial inclusion to 
50% of the planet, right? 

315
00:17:38,300 --> 00:17:40,300
It's unfortunate to say at least
anyways. 

316
00:17:40,300 --> 00:17:42,800
Phil, what are your thoughts 
before we move on to Lolly? 

317
00:17:44,000 --> 00:17:47,800
I think it's I think it's 
incredibly hypocritical and 

318
00:17:47,800 --> 00:17:50,500
maybe and and you know what Alex
said, you being in New York, 

319
00:17:51,300 --> 00:17:53,900
possibly correct me if I'm wrong
but I'm pretty sure that New 

320
00:17:53,900 --> 00:17:58,300
York has access. 
S2 a lot of hydroelectricity, I 

321
00:17:58,300 --> 00:18:01,300
know that up in Canada, 
specifically Quebec. 

322
00:18:01,700 --> 00:18:03,400
Well, let's just leave it at 
Canada. 

323
00:18:03,500 --> 00:18:07,000
Has I think the most natural 
water resources in the world? 

324
00:18:07,200 --> 00:18:11,800
And if I'm not mistaken, New 
York is bordering along there 

325
00:18:11,800 --> 00:18:14,100
and also has access to the 
similar Water Resources. 

326
00:18:14,100 --> 00:18:17,300
So the fact that 
hydroelectricity just seems to 

327
00:18:17,300 --> 00:18:23,400
get completely ignored, is I 
find strange and and just kind 

328
00:18:23,400 --> 00:18:26,100
of cringey. 
I mean, You think that's such a 

329
00:18:26,100 --> 00:18:31,700
powerful business Hub, would be 
all-in, on figuring out how to 

330
00:18:31,700 --> 00:18:35,500
get this to go, how to get this 
to grow, and how to essentially 

331
00:18:35,500 --> 00:18:42,300
be part of the next Revolution. 
And I just I'm, I'm confused. 

332
00:18:42,300 --> 00:18:46,500
I am really, I truly am confused
with what's going on in New 

333
00:18:46,500 --> 00:18:48,300
York, especially as a kid 
growing up. 

334
00:18:48,400 --> 00:18:51,100
Like, you know what people don't
realize is that. 

335
00:18:52,600 --> 00:18:56,100
You know, a lot of cities will 
Market themselves right as 

336
00:18:56,800 --> 00:19:00,000
Financial hubs as Innovation 
hubs and stuff like that. 

337
00:19:00,000 --> 00:19:02,400
And being, you know, being 
originally from Montreal, you'd 

338
00:19:02,400 --> 00:19:04,600
always hear about New York City,
right? 

339
00:19:04,600 --> 00:19:06,700
Like if you want to go 
somewhere, you want to be 

340
00:19:06,700 --> 00:19:08,500
somebody, right? 
You're gonna go to New York, 

341
00:19:08,500 --> 00:19:10,000
right? 
It's the city that never sleeps,

342
00:19:10,000 --> 00:19:13,100
there's all this opportunity and
then I you know, we enter 

343
00:19:13,100 --> 00:19:18,200
Bitcoin and it just seems like 
it's a whole bunch of of moats 

344
00:19:18,200 --> 00:19:21,300
and walls and like no, no, no, 
no, we're keeping that out of 

345
00:19:21,308 --> 00:19:24,900
here, and it Just seems like 
this has really nothing to do 

346
00:19:24,900 --> 00:19:27,100
with business. 
And this has to do with 

347
00:19:27,100 --> 00:19:30,000
political incentives. 
But again, I digress. 

348
00:19:30,000 --> 00:19:32,800
I'm not a politician. 
It just doesn't seem like. 

349
00:19:32,800 --> 00:19:35,400
This isn't really a business 
idea. 

350
00:19:36,100 --> 00:19:40,000
And this is much more a social 
control idea. 

351
00:19:41,300 --> 00:19:43,600
Totally agree and you're 
totally, right. 

352
00:19:43,600 --> 00:19:48,100
I was just, I knew that New York
was a have a lot of hydropower. 

353
00:19:48,100 --> 00:19:50,800
I didn't realize how much it's 
even more than I that I thought 

354
00:19:51,500 --> 00:19:53,500
it. 
This this status pretty fun. 

355
00:19:53,500 --> 00:19:58,800
It's the the highest producer of
hydropower east of the Rocky 

356
00:19:58,800 --> 00:20:04,900
Mountains, so pretty. 
Pretty wild, it's typically 

357
00:20:04,900 --> 00:20:08,500
Seventeen, Seventeen percent of 
the total electricity is from 

358
00:20:08,500 --> 00:20:10,200
hydropower. 
So that's that's pretty 

359
00:20:10,200 --> 00:20:12,400
incredible. 
And we know a lot of that is 

360
00:20:12,400 --> 00:20:16,500
just wasted because there's 
nowhere for or a lot of it to go

361
00:20:17,100 --> 00:20:20,900
and and also keep in mind that 
the taxpayers paid for that to 

362
00:20:20,900 --> 00:20:23,400
be built which cost billions and
billions and billions of dollars

363
00:20:23,700 --> 00:20:28,100
to create that hydropower. 
And now now the taxpayers can't 

364
00:20:28,100 --> 00:20:31,500
put that into arguably one of 
the best businesses of all time,

365
00:20:31,500 --> 00:20:34,100
which is, you know, being a 
Bitcoin mining company in a 

366
00:20:34,100 --> 00:20:38,500
place that, you know, we paid 
for so really unfortunate, 

367
00:20:38,500 --> 00:20:42,300
really just gross. 
Incompetence and And yeah, we're

368
00:20:42,300 --> 00:20:46,000
just turning away smart people. 
I completely agree, it's 

369
00:20:46,000 --> 00:20:48,600
unfortunate. 
But the better is what you said,

370
00:20:48,600 --> 00:20:51,800
the better flag theory is 
playing out before our eyes and 

371
00:20:52,300 --> 00:20:54,900
unfortunately cities and 
countries that don't adopt 

372
00:20:54,900 --> 00:20:56,800
Bitcoin. 
Or you know what we say the 

373
00:20:56,800 --> 00:20:57,900
Pledge. 
Say are going to have fun. 

374
00:20:57,900 --> 00:21:01,000
Staying poor, hopefully Jack, 
hopefully New York, wakes up to 

375
00:21:01,008 --> 00:21:03,500
that. 
Anyways, let's talk about Alex's

376
00:21:03,500 --> 00:21:08,100
company Lolly, you guys know the
deal any company or any Bitcoin 

377
00:21:08,100 --> 00:21:10,000
service that we bring on the 
show. 

378
00:21:10,700 --> 00:21:14,400
We've We use ourselves. 
I used Lolly sometimes to do a 

379
00:21:14,400 --> 00:21:17,700
little bit of online shopping. 
Give some SATs back, which is 

380
00:21:17,700 --> 00:21:20,900
always a good thing. 
So Alex why don't you explain 

381
00:21:21,000 --> 00:21:24,900
what Lolly is? 
Yes so we've created the leading

382
00:21:24,900 --> 00:21:27,900
Bitcoin towards company. 
We give people free Bitcoin when

383
00:21:27,900 --> 00:21:30,500
they shop online at over 1,000 
different. 

384
00:21:30,500 --> 00:21:33,300
Merchants we make it, we're 
trying to make it incredibly 

385
00:21:33,300 --> 00:21:36,500
easy to get into Bitcoin and 
trying to change it up a little 

386
00:21:36,500 --> 00:21:38,200
bit. 
I think when I got into Bitcoin,

387
00:21:38,200 --> 00:21:40,900
there were the only real ways to
do it with remaining. 

388
00:21:41,100 --> 00:21:44,400
And investing and most of the 
world doesn't invest, you know, 

389
00:21:44,400 --> 00:21:47,900
we can sit here all day and say,
go buy Bitcoin, go buy Bitcoin, 

390
00:21:47,900 --> 00:21:51,400
go learn about it but in the day
you're taking hard-earned money 

391
00:21:51,400 --> 00:21:55,400
and putting it into into Bitcoin
and it is it is a big leap and, 

392
00:21:55,600 --> 00:21:59,100
you know, we're 13 years into 
Bitcoin and it's still bizarre 

393
00:21:59,100 --> 00:22:01,100
to me that every person doesn't 
have it because it's like of 

394
00:22:01,100 --> 00:22:04,400
what we what we know about it. 
So it's it was a hard task. 

395
00:22:04,400 --> 00:22:08,400
I think to teach my friends, my 
family about Bitcoin, the thing 

396
00:22:08,400 --> 00:22:12,300
that I was building previously 
Was a company called Cosmic. 

397
00:22:12,600 --> 00:22:15,200
We built one of the leading 
shopping and payments 

398
00:22:15,500 --> 00:22:17,700
Technologies in the world. 
We were the creators of the 

399
00:22:18,600 --> 00:22:21,300
dynamic by button. 
So what we were sitting there, 

400
00:22:21,300 --> 00:22:24,600
we're learning the reward space 
and I was like, wow, this would 

401
00:22:24,600 --> 00:22:28,400
be an incredible way of giving 
people Bitcoin through a proven 

402
00:22:28,400 --> 00:22:32,300
business model that actually 
attaches Bitcoin to Everyday 

403
00:22:32,300 --> 00:22:34,900
Life which was, you know, 
satoshi's original vision of 

404
00:22:34,900 --> 00:22:37,200
making it, you know, P2P 
payments. 

405
00:22:37,400 --> 00:22:40,100
And so, I was like, well, let's 
let me reframe it. 

406
00:22:40,100 --> 00:22:42,400
Like, Rewards are part of 
payments. 

407
00:22:42,400 --> 00:22:45,100
Every time you pay you get 
something back and we know that 

408
00:22:45,100 --> 00:22:47,500
people don't want to pay with 
Bitcoin because you know, the 

409
00:22:47,500 --> 00:22:49,900
volatility and a lot of people 
don't have it then have ubiquity

410
00:22:49,900 --> 00:22:52,700
yet. 
And so how do we attach Bitcoin 

411
00:22:52,700 --> 00:22:55,800
to every payment? 
We make it on the rewards layer.

412
00:22:56,000 --> 00:22:59,900
So, so far, we've brought over 
550,000 people into Bitcoin, 

413
00:23:00,300 --> 00:23:04,100
through rewards. 
We are us only, we are expanding

414
00:23:04,400 --> 00:23:08,700
internationally over the next 
year, but yeah, we are working 

415
00:23:08,700 --> 00:23:11,900
really hard to bring on as many 
individuals as Well and as many 

416
00:23:11,900 --> 00:23:15,200
Merchants as possible into the 
Bitcoin space, the obvious thing

417
00:23:15,200 --> 00:23:16,700
is we're bringing consumers to 
rewards. 

418
00:23:16,700 --> 00:23:19,800
The non-obvious thing is, we're 
bringing incredible amount of 

419
00:23:19,900 --> 00:23:23,600
top merchants on board into 
Bitcoin to kind of give you a 

420
00:23:23,600 --> 00:23:28,700
sense of scale and just Trends. 
We have 1100 merchants on our 

421
00:23:28,700 --> 00:23:31,900
platform today of those 
merchants and you can see it you

422
00:23:31,900 --> 00:23:34,600
know the Nikes and Adidas of the
world Sam's Club. 

423
00:23:34,900 --> 00:23:37,200
You name the brand. 
We probably have worked with 

424
00:23:37,200 --> 00:23:42,100
them of those Merchants less 
than 10 of them not Not 10% ten 

425
00:23:42,100 --> 00:23:47,100
of them, accept Bitcoin. 
So the, the, the the rate of 

426
00:23:47,100 --> 00:23:50,300
adoption of rewards is has been 
incredible. 

427
00:23:50,300 --> 00:23:53,400
And now we're bridging these 
conversations of, okay? 

428
00:23:53,600 --> 00:23:55,900
They're coming to me. 
Say when Bitcoin payments when 

429
00:23:55,900 --> 00:23:57,800
are we, you know, what are we 
talking about with Bitcoin 

430
00:23:57,800 --> 00:24:00,900
remittance and Bitcoin Treasury 
and all of these conversations 

431
00:24:00,900 --> 00:24:02,800
that that were now bridging, 
that Gap into? 

432
00:24:02,800 --> 00:24:06,500
So yeah, I think it's what we're
building is incredibly important

433
00:24:06,500 --> 00:24:08,300
mission for the entire Bitcoin 
space. 

434
00:24:08,500 --> 00:24:09,900
Bringing more people into 
Bitcoin. 

435
00:24:11,800 --> 00:24:15,300
Educating the world on why 
Bitcoin is so important and 

436
00:24:15,300 --> 00:24:17,700
attaching it to Everyday Life. 
Awesome. 

437
00:24:17,700 --> 00:24:20,900
Yeah. 
So very, very cool. 

438
00:24:20,900 --> 00:24:24,600
I love what you guys do but just
you know the plums are going to 

439
00:24:24,608 --> 00:24:26,200
beat me up. 
If I don't ask you question a 

440
00:24:26,208 --> 00:24:28,400
little bit of a so what's the 
catch? 

441
00:24:28,400 --> 00:24:31,800
The catch is. 
So you go and you download the 

442
00:24:31,800 --> 00:24:34,600
the thing let's talk a little 
bit about incentives. 

443
00:24:34,600 --> 00:24:37,300
What's in it for you? 
Obviously no one works for free.

444
00:24:37,500 --> 00:24:39,300
So why don't you talk a little 
bit about that? 

445
00:24:40,400 --> 00:24:43,500
Yeah, well it's a funny thing is
I think a lot of people assume 

446
00:24:43,500 --> 00:24:46,100
that we're doing something like 
we're it's like how am I getting

447
00:24:46,100 --> 00:24:49,100
all this free money but we're 
taking existing business model 

448
00:24:49,100 --> 00:24:52,800
with a cashback business model 
so it's the way that the 

449
00:24:52,808 --> 00:24:56,200
cashback business model works, 
is we partner with Merchants. 

450
00:24:56,400 --> 00:25:00,600
Those Merchants are willing to 
pay for customers to come to 

451
00:25:00,600 --> 00:25:03,000
their sites. 
They would normally be paying 

452
00:25:03,000 --> 00:25:06,400
Facebook and Google the Behemoth
tech companies to go bring you 

453
00:25:06,400 --> 00:25:08,500
into the site. 
And what they're simply saying 

454
00:25:08,500 --> 00:25:12,400
is hey if Lolly Is users that 
want to earn Bitcoin. 

455
00:25:12,500 --> 00:25:15,400
Let's go, pay Lolly instead of 
go pay Facebook or Google and 

456
00:25:15,400 --> 00:25:18,000
unlike Facebook or Google that 
are like selling your data, 

457
00:25:18,200 --> 00:25:20,200
we're not selling your data, 
we're just saying. 

458
00:25:20,400 --> 00:25:23,300
All you have to do is use Lolly 
come in through Lolly and Shop 

459
00:25:23,300 --> 00:25:24,900
there, and we are the Loyalty 
layer. 

460
00:25:24,900 --> 00:25:28,300
So instead of paying, you know, 
the like the people's margins of

461
00:25:28,300 --> 00:25:31,300
40 to 50% to the Googles and the
Facebook's, you know, they'll 

462
00:25:31,300 --> 00:25:35,400
pay us ten to fifteen percent. 
We share that the Lion's Share 

463
00:25:35,400 --> 00:25:38,400
of it with our users, sending 
Bitcoin to your Lolly wallet. 

464
00:25:38,400 --> 00:25:41,500
So everybody wins the the 
Merchants get to skirt, 

465
00:25:41,500 --> 00:25:44,400
Facebook, and Google. 
By working directly with us, 

466
00:25:44,400 --> 00:25:47,300
they get to save money on 
acquiring customers, our users 

467
00:25:47,300 --> 00:25:51,200
get to be loyal and to our 
Merchants. 

468
00:25:51,300 --> 00:25:53,900
So a lot of times, you know, it 
means not shopping at Amazon and

469
00:25:53,900 --> 00:25:56,200
shopping at a different 
Merchants. 

470
00:25:56,400 --> 00:25:59,900
One of our 11:00 Merchants to 
order to in order to have that 

471
00:25:59,900 --> 00:26:03,600
like long-term savings with 
Bitcoin. 

472
00:26:03,800 --> 00:26:05,800
And and so yeah, when you shop 
in the merchants, you know and 

473
00:26:05,800 --> 00:26:09,800
love you earned that coin back, 
you're not selling your data is 

474
00:26:09,800 --> 00:26:11,400
the I think we will never sell 
your data. 

475
00:26:11,400 --> 00:26:12,900
We don't make money off of 
selling data. 

476
00:26:13,100 --> 00:26:17,200
We simply make money when people
shop these different sites and 

477
00:26:17,300 --> 00:26:21,200
apps and stores and it's 
completely free to the user when

478
00:26:21,200 --> 00:26:23,700
they sign up they don't have to 
put in their credit card or 

479
00:26:23,700 --> 00:26:26,500
nothing. 
They're just receiving SATs. 

480
00:26:26,900 --> 00:26:30,200
If they if one of your stores 
are included in the checkout and

481
00:26:30,200 --> 00:26:34,100
then you have that awesome 
little you know the Chrome 

482
00:26:34,100 --> 00:26:36,300
plugin. 
It lights up turns from purple 

483
00:26:36,300 --> 00:26:40,000
to Green, right? 
And let me one last question. 

484
00:26:40,100 --> 00:26:45,300
Before I pass it on to fill, do 
you need to do kyc to withdraw 

485
00:26:45,600 --> 00:26:48,700
the SATs? 
Yes, so we because we're 

486
00:26:48,700 --> 00:26:53,000
rewards, we are not a money 
transmitter, we found a nice 

487
00:26:53,000 --> 00:26:56,800
loophole and in the legal 
system, where we, you know, if 

488
00:26:56,808 --> 00:26:59,900
you're buying and selling 
crypto, you are Whoever has to 

489
00:26:59,908 --> 00:27:02,600
be a money. 
Transmitter Lolly is not a 

490
00:27:02,608 --> 00:27:04,100
money. 
Transmitter, we are a rewards 

491
00:27:04,100 --> 00:27:07,700
company that happens to give you
Bitcoin, there is some kyc 

492
00:27:07,700 --> 00:27:11,900
required, to be rewards, coming 
in to move, or to, to like, you 

493
00:27:11,900 --> 00:27:15,400
know, be a Bitcoin company. 
But it's the absolute minimum 

494
00:27:15,400 --> 00:27:18,200
that we are legally required. 
Word to take. 

495
00:27:18,600 --> 00:27:23,300
So you know name and email as 
what you do in come in and say 

496
00:27:23,300 --> 00:27:26,400
you know who you are and tell us
who you are and that's how you 

497
00:27:26,400 --> 00:27:28,400
get your Bitcoin awesome. 
Very cool. 

498
00:27:28,400 --> 00:27:30,600
Fill want to tie it up. 
Yeah. 

499
00:27:31,200 --> 00:27:33,400
I think what the I think what 
the theme is? 

500
00:27:33,500 --> 00:27:35,900
Because I do remember 
interviewing you a few years ago

501
00:27:36,500 --> 00:27:40,800
for fun with Bitcoin and the 
theme which is still true and 

502
00:27:40,800 --> 00:27:45,500
absolutely beautiful is this it 
is the reduction of friction. 

503
00:27:45,800 --> 00:27:48,000
Okay? 
What We're doing okay, which I 

504
00:27:48,000 --> 00:27:50,400
think is, which I think is 
really great and this is kind of

505
00:27:50,400 --> 00:27:53,200
one of those things in Bitcoin 
that does get controversial, 

506
00:27:53,200 --> 00:27:54,400
right? 
Because we have all different 

507
00:27:54,400 --> 00:27:58,300
factions of bitcoiners, right? 
We've got the Privacy Advocates,

508
00:27:58,600 --> 00:28:01,400
you know, we've got the, we've 
got other people that just don't

509
00:28:01,400 --> 00:28:02,900
care. 
So much about privacy and it's 

510
00:28:02,900 --> 00:28:04,900
all about kyc. 
We've got other people that 

511
00:28:04,900 --> 00:28:07,500
think that, if, you know, if 
you're buying your Bitcoin 

512
00:28:07,500 --> 00:28:10,600
through cash app, then you know 
what you're doing is universally

513
00:28:10,600 --> 00:28:15,000
horrendous, you know, so what I 
like about the rewards method is

514
00:28:15,000 --> 00:28:20,300
this It doesn't require a person
necessarily to get a wallet 

515
00:28:20,300 --> 00:28:23,300
immediately. 
It allows them to take this 

516
00:28:23,300 --> 00:28:27,800
Middle Ground step into Bitcoin 
with a familiar type of platform

517
00:28:27,800 --> 00:28:31,100
that they already understand. 
People are very familiar with 

518
00:28:31,100 --> 00:28:32,700
rewards. 
People are very familiar with 

519
00:28:32,700 --> 00:28:36,900
gift cards. 
This Bridges a gap and I think I

520
00:28:36,900 --> 00:28:39,100
actually you know what, I'd be 
very curious. 

521
00:28:39,100 --> 00:28:41,000
I don't know if you can share 
these numbers and it's okay if 

522
00:28:41,000 --> 00:28:44,700
you can't. 
But what what is the I guess 

523
00:28:44,700 --> 00:28:48,100
your your average Of user. 
Do you even? 

524
00:28:48,100 --> 00:28:52,500
Are you even able to gather that
data have have you even tried to

525
00:28:52,500 --> 00:28:54,500
gather that data? 
Because I'd be very curious to 

526
00:28:54,500 --> 00:28:58,900
see I've I feel like you'd be 
maybe in the like the 30 to 55 

527
00:28:58,900 --> 00:29:02,100
range because there's you know, 
I think that those people are 

528
00:29:02,100 --> 00:29:06,700
much more averse to the the gift
cards and maybe a little bit 

529
00:29:06,700 --> 00:29:09,700
more skittish to go and get a 
hardware wallet and whatnot. 

530
00:29:09,700 --> 00:29:12,400
But anyways, let me know what 
are your thoughts on that? 

531
00:29:13,100 --> 00:29:16,900
So a lot of our users are brand 
new to bitcoin and that was One 

532
00:29:16,900 --> 00:29:19,900
of the things we know we saw 
very early on, we definitely 

533
00:29:19,900 --> 00:29:25,500
have a lot of Hardcore 
bitcoiners that that love love 

534
00:29:25,500 --> 00:29:28,800
Ali. 
I mean one minimal kyc to 

535
00:29:30,200 --> 00:29:33,500
dedication of privacy and 
security might meet on my team 

536
00:29:33,500 --> 00:29:35,300
and I we built a payments 
company before. 

537
00:29:35,300 --> 00:29:39,000
If you think being Bitcoin 
privacy and security stuff, like

538
00:29:39,100 --> 00:29:42,300
try tried being a PCI level 1 
compliant company and the amount

539
00:29:42,300 --> 00:29:46,700
of Regulation you have to go 
through to ensure security. 

540
00:29:46,800 --> 00:29:49,200
Privacy of your users data and 
payments. 

541
00:29:49,400 --> 00:29:53,300
So yeah, we've taken those 
principles and protocols and 

542
00:29:53,300 --> 00:29:59,300
apply them to to Lolly are real 
customers like 18 to 34. 

543
00:29:59,300 --> 00:30:02,100
Actually, so much younger 
demographic. 

544
00:30:02,200 --> 00:30:06,500
So when rakitin so rockets and 
bought my last company records, 

545
00:30:06,500 --> 00:30:07,800
the biggest cash back company 
us. 

546
00:30:07,800 --> 00:30:10,100
Many parts of the world. 
When I was there. 

547
00:30:10,100 --> 00:30:14,900
I think we had over 12 million 
customers and then honey has 20 

548
00:30:14,900 --> 00:30:16,800
million customers. 
So you know, whether you You 

549
00:30:16,800 --> 00:30:21,400
like, you know, Bitcoin Rewards 
or not or whatever your deal is 

550
00:30:21,800 --> 00:30:24,300
fact, is it's incredible way to 
onboard people. 

551
00:30:24,300 --> 00:30:25,500
People are going to do cash 
back. 

552
00:30:25,500 --> 00:30:29,400
Anyway, whether you like it or 
not, and if you can give them a 

553
00:30:29,408 --> 00:30:32,100
better money and teach them 
about better money and he's on 

554
00:30:32,100 --> 00:30:34,000
bitcoin. 
Like, you know, we don't care 

555
00:30:34,000 --> 00:30:36,700
what you think. 
It's like, I'm giving I know I'm

556
00:30:36,700 --> 00:30:39,400
giving people better money and 
I'm educating them on on 

557
00:30:39,400 --> 00:30:41,600
bitcoin. 
And that's incredibly important.

558
00:30:41,700 --> 00:30:44,100
We're taking something that 
people do already and we're 

559
00:30:44,100 --> 00:30:46,600
making it way easier. 
You can sign up in. 

560
00:30:46,800 --> 00:30:48,400
Less than a minute and start 
earning Bitcoin. 

561
00:30:48,400 --> 00:30:51,000
There's not another platform out
there that gives you that sort 

562
00:30:51,000 --> 00:30:55,100
of ease that you can send it to 
your mom, your dad, your 

563
00:30:55,100 --> 00:30:57,900
friends, your family. 
And just say, hey, I know you're

564
00:30:57,900 --> 00:31:00,800
not going to go buy Bitcoin, go 
try, earning it for a few months

565
00:31:00,900 --> 00:31:03,400
and see what happens getting off
0. 

566
00:31:03,400 --> 00:31:06,100
I remember used to be a huge 
piece of the narrative that I 

567
00:31:06,108 --> 00:31:08,900
think is, you know, kind of lost
now because everyone all these 

568
00:31:08,900 --> 00:31:10,500
hardcore bitcoiners are, like 
everyone has. 

569
00:31:10,500 --> 00:31:13,200
It's like, no go. 
Like we talked to Brenda users 

570
00:31:13,200 --> 00:31:15,600
every single day, like, no one 
has it. 

571
00:31:15,600 --> 00:31:19,200
It's we're still On day one, and
we need to distribute it to more

572
00:31:19,200 --> 00:31:23,400
people and teach people about 
Bitcoin and the Bitcoin is 

573
00:31:23,400 --> 00:31:24,500
already going to have more 
Bitcoin. 

574
00:31:24,500 --> 00:31:26,100
They're already going to keep 
accumulating. 

575
00:31:26,300 --> 00:31:29,500
Like we need to get to the 
masses and we need to really 

576
00:31:29,500 --> 00:31:34,800
penetrate the like as many of 
the of the the masses as 

577
00:31:34,800 --> 00:31:36,900
possible and make it a part of 
their life. 

578
00:31:36,900 --> 00:31:40,500
Like the biggest thing and you 
know the price gets talked about

579
00:31:40,500 --> 00:31:43,500
a lot of like, you know, the the
joke that you're forever of like

580
00:31:43,500 --> 00:31:45,500
one Bitcoin. 
He goes one Bitcoin is when 

581
00:31:45,500 --> 00:31:48,300
you're talking to someone who is
Ever talk to touch Bitcoin 

582
00:31:48,300 --> 00:31:50,200
before. 
They are hyper fixated on the 

583
00:31:50,200 --> 00:31:55,300
price when we first launched 
Bitcoin is was at 4K 5K and that

584
00:31:55,300 --> 00:31:57,900
range. 
We launched and and it continues

585
00:31:57,900 --> 00:32:02,200
to go up and it skyrockets those
were our biggest growth ever and

586
00:32:02,200 --> 00:32:04,500
our users still to this day. 
That, you know, joined us in the

587
00:32:04,500 --> 00:32:07,700
early days even though the 
Bitcoins at 20K, they're still 

588
00:32:07,700 --> 00:32:10,200
at 4 x 5 x. 
What they were earning and 

589
00:32:10,200 --> 00:32:14,200
Bitcoin because price taught 
them price gave them the best 

590
00:32:14,200 --> 00:32:16,200
rewards platform that they had 
ever seen. 

591
00:32:16,300 --> 00:32:18,800
Because Cuz when you earn five 
dollars in cash back from 

592
00:32:18,800 --> 00:32:22,300
rakitin you know your you get 
your coupons or whatever like 

593
00:32:23,100 --> 00:32:26,200
121 your five dollars is now 
what four dollars and fifty 

594
00:32:26,200 --> 00:32:28,900
cents with inflation over those 
last two years whereas your 

595
00:32:28,900 --> 00:32:32,700
Bitcoin is now 45 x what it was.
So you aren't you aren't you 

596
00:32:32,700 --> 00:32:37,400
know 10% or like $10 back on 
your purchase you know how 40 40

597
00:32:37,400 --> 00:32:41,100
to $50 back you got you got half
off your purchase because you 

598
00:32:41,100 --> 00:32:44,500
chose Bitcoin so we are 
basically like forcing the 

599
00:32:44,500 --> 00:32:49,100
orange pill down people's In 
like the nicest way possible and

600
00:32:49,100 --> 00:32:51,200
just saying, look, this is 
better money and we're going to 

601
00:32:51,208 --> 00:32:53,800
show you just an all you have to
do is shop as you normally 

602
00:32:53,800 --> 00:32:56,200
would. 
Yeah it really the gift that 

603
00:32:56,200 --> 00:32:58,300
keeps on giving. 
Yes, exactly. 

604
00:32:58,800 --> 00:33:01,500
I like that. 
The incentive is very strong and

605
00:33:01,500 --> 00:33:04,700
and the thing about that is 
that, you know, one day, if 

606
00:33:04,700 --> 00:33:07,000
that, that purchase that you 
made it might be a hundred 

607
00:33:07,000 --> 00:33:11,300
percent cash back, right? 
So that's the power of a 

608
00:33:11,300 --> 00:33:13,300
deflationary currency like 
Bitcoin. 

609
00:33:13,308 --> 00:33:15,600
It's the best savings 
technology. 

610
00:33:15,600 --> 00:33:16,900
The world has ever seen. 
Seen. 

611
00:33:16,900 --> 00:33:20,300
But anyways, so it's time for 
the daily meme review brought to

612
00:33:20,300 --> 00:33:23,000
you by Citadel 21. 
It's the best Bitcoin cultural 

613
00:33:23,000 --> 00:33:27,800
Zine stories articles Comics by 
actual bitcoiners toxic plebs. 

614
00:33:27,800 --> 00:33:29,500
It's great. 
This is artwork for volume 10. 

615
00:33:29,500 --> 00:33:32,700
This is artwork for volume to 
his artwork for volume 11. 

616
00:33:32,700 --> 00:33:35,800
Their scarce is only 1000 
physical copies made per volume,

617
00:33:35,800 --> 00:33:37,700
so get your print of Citadel 21 
today. 

618
00:33:38,000 --> 00:33:41,600
All right, everybody first meme 
is by fellow play Bach. 

619
00:33:41,600 --> 00:33:43,300
Metallica hot. 
Oh my God. 

620
00:33:43,500 --> 00:33:46,300
All right swear. 
I swear this has never happened 

621
00:33:46,300 --> 00:33:47,400
before. 
For Laura. 

622
00:33:49,400 --> 00:33:51,300
All right. 
Moving on my Lena. 

623
00:33:51,300 --> 00:33:56,800
She's, we don't pick the memes. 
The plebs, join our telegram 

624
00:33:56,800 --> 00:33:58,800
group, they link us in there, 
and we included. 

625
00:33:58,800 --> 00:34:03,300
Anyways, by the legendary Lena. 
She she makes the memes herself,

626
00:34:03,300 --> 00:34:06,900
so she is a legend. 
Anyways, no Corner. 

627
00:34:06,900 --> 00:34:10,000
Please go down you Corner. 
Please go up Bitcoin. 

628
00:34:10,000 --> 00:34:12,500
ER, please stay low until I get 
my next paycheck. 

629
00:34:12,500 --> 00:34:16,500
Ha ha ha. 
All right, by Allenby Watson. 

630
00:34:16,699 --> 00:34:20,000
Another fellow pleb yield 
Farmers, it ain't honest or much

631
00:34:22,900 --> 00:34:25,699
for anyone that doesn't 
understand or our European 

632
00:34:25,699 --> 00:34:27,600
users. 
There's, you know, there's the 

633
00:34:27,699 --> 00:34:30,800
the farmer line, right? 
It's on it, it ain't much, but 

634
00:34:30,800 --> 00:34:33,800
it's honest work, right? 
It's a little play on words 

635
00:34:34,500 --> 00:34:37,300
another. 
Another pleb Auto row, block 

636
00:34:37,300 --> 00:34:40,400
Phi, will undergo a liquidity 
crisis by the end of 2020 to I 

637
00:34:40,408 --> 00:34:43,800
don't know about that block. 
Phi has already lost sir 

638
00:34:43,800 --> 00:34:46,100
substantial amounts of money in 
2022. 

639
00:34:46,699 --> 00:34:52,500
Here's a meme, Luna USC Celsius,
three arrows Capital block, fi 

640
00:34:52,500 --> 00:34:55,199
it look the bear Market. 
This happens every time. 

641
00:34:55,199 --> 00:34:58,500
This is why we advocate so 
strongly on the show takes have 

642
00:34:58,500 --> 00:35:02,200
custody of your Bitcoin. 
Anyways, next mean, by Rasmus, 

643
00:35:02,200 --> 00:35:05,900
I'm sure things will go back to 
normal by July July. 

644
00:35:10,200 --> 00:35:14,800
Well, Street Silver summary of 
our situation, seventy five 

645
00:35:14,800 --> 00:35:18,400
pieces, why it's hit Play 
either. 

646
00:35:18,400 --> 00:35:23,600
Great means jack, dude. 
Jax behind web five. 

647
00:35:23,600 --> 00:35:27,500
He's been absolutely killing it.
Nah, and it's web 3. 

648
00:35:27,500 --> 00:35:30,200
And this is the famous meme, the
knee. 

649
00:35:30,200 --> 00:35:34,100
It's, you know, the like saying 
like it's like a Russian Soviet 

650
00:35:34,100 --> 00:35:37,500
Union propaganda, right? 
Anyways. 

651
00:35:37,700 --> 00:35:40,100
Really good stuff last but not 
least by coin. 

652
00:35:40,100 --> 00:35:46,500
B, be patient and DCA smashed by
every single price dip at least.

653
00:35:46,600 --> 00:35:49,700
I thought I thought about it 
very good. 

654
00:35:49,700 --> 00:35:52,300
Awesome, awesome memes by the 
fellow plebs. 

655
00:35:52,300 --> 00:35:54,100
Thank you guys, really 
appreciate it. 

656
00:35:54,100 --> 00:35:57,100
Anyways, Phil for those awesome 
means I'm going to give it an 

657
00:35:57,100 --> 00:35:59,700
empty bag of plantain chips. 
What about you brother? 

658
00:36:01,300 --> 00:36:03,600
Big fan of the big fan of the 
plantain chips? 

659
00:36:03,600 --> 00:36:06,000
Very crunchy. 
Very crunchy plantain. 

660
00:36:06,000 --> 00:36:08,000
It's it's like a banana but it's
not. 

661
00:36:08,100 --> 00:36:09,800
It's better. 
It's better better. 

662
00:36:09,900 --> 00:36:13,000
It's a plantain but you never 
hear anybody cheering about the 

663
00:36:13,000 --> 00:36:15,200
plantains, right guys, I'm 
Justin and they don't live in 

664
00:36:15,200 --> 00:36:18,100
Miami, bro. 
We're all plantains here. 

665
00:36:18,500 --> 00:36:22,600
Real fun things. 
Okay, so look so for this, I am 

666
00:36:22,600 --> 00:36:29,700
giving it this awesome Cipher 
wheel box but there's more than 

667
00:36:29,700 --> 00:36:33,100
just a Cipher wheel in here and 
I'm not going to tell you what's

668
00:36:33,100 --> 00:36:34,500
in there. 
Hmm. 

669
00:36:34,800 --> 00:36:40,300
Is it a note? 
Unfortunately, unfortunately, 

670
00:36:40,300 --> 00:36:42,700
it's not in me and everything 
that's in there is not meant 

671
00:36:43,200 --> 00:36:45,700
Alex. 
What would you give those memes?

672
00:36:46,400 --> 00:36:51,100
I am going to give it a gently 
used Tabasco. 

673
00:36:51,700 --> 00:36:56,800
Yeah, very spicy memes today. 
Very spicy but very, very spicy.

674
00:36:56,800 --> 00:36:58,700
Anyways guys, we want to know if
you're grew their scores, you 

675
00:36:58,708 --> 00:37:00,600
disagree. 
Let us know down in the comment 

676
00:37:00,600 --> 00:37:02,900
section. 
Join our awesome telegram group.

677
00:37:02,900 --> 00:37:05,200
It's a party in there and make 
sure to subscribe to us on 

678
00:37:05,200 --> 00:37:08,100
alternative video platforms. 
Like Rumble.com and a personal 

679
00:37:08,100 --> 00:37:11,900
favorite Bitcoin tv.com. 
Anyways Phil it's time for the 

680
00:37:11,900 --> 00:37:15,500
daily fail brought to you by 
Swan. 

681
00:37:15,500 --> 00:37:19,200
Check them out Swan Bitcoin.com.
That's right. 

682
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It is the best way to build your
Bitcoin stack with an automated 

683
00:37:23,200 --> 00:37:26,000
Savings Plan. 
They're serving clients of any 

684
00:37:26,000 --> 00:37:28,500
size from ten bucks to ten 
million dollars. 

685
00:37:28,600 --> 00:37:33,100
They've got an app coming out. 
It is a Bitcoin stacking site 

686
00:37:33,100 --> 00:37:37,700
and soon app by fellow plebs 
check out the Link down below, 

687
00:37:37,700 --> 00:37:41,600
you know, how I like to bring in
different versions of fail 

688
00:37:41,600 --> 00:37:43,800
story. 
So this is just a light kind of,

689
00:37:44,200 --> 00:37:47,200
you know, something for us to 
think about right documenting 

690
00:37:47,200 --> 00:37:48,800
Bitcoin. 
Shout out to this account. 

691
00:37:48,800 --> 00:37:51,500
Great account after such oh 
laughter Satoshi. 

692
00:37:51,500 --> 00:37:56,300
Nakamoto posted this 12 years 
ago today 35 thousand seven 

693
00:37:56,300 --> 00:38:00,500
hundred tons of gold have been 
found thirteen trillion dollars 

694
00:38:00,500 --> 00:38:05,200
have been printed and yet there 
is still only 21 million 

695
00:38:05,200 --> 00:38:08,700
Bitcoins. 
Very true, very true. 

696
00:38:09,000 --> 00:38:11,500
And this kind of goes back to 
nicko's. 

697
00:38:11,900 --> 00:38:18,500
Number segment, right about the 
hard cap of the of the new 

698
00:38:18,500 --> 00:38:21,300
digital Euro. 
It doesn't matter. 

699
00:38:21,300 --> 00:38:23,000
They can tell you all, they want
that. 

700
00:38:23,000 --> 00:38:26,000
There's a hard cap. 
Look, the dollar was pegged to 

701
00:38:26,000 --> 00:38:28,900
Gold until it wasn't. 
Why? 

702
00:38:29,000 --> 00:38:32,700
Because humans this is why we 
need to be removed from this, we

703
00:38:32,700 --> 00:38:36,500
clearly suck. 
Anyways, before I dive into the 

704
00:38:36,700 --> 00:38:41,600
Actual story of the fail. 
Alex, do you have any comments 

705
00:38:41,600 --> 00:38:45,600
on on this right now? 
It's just, it just fax. 

706
00:38:45,600 --> 00:38:47,900
It said, I mean there's there's 
nuts. 

707
00:38:47,900 --> 00:38:52,600
Plain, and simple, love, love to
mockumentary, bitcoin always, 

708
00:38:52,600 --> 00:38:56,100
always good to see the memes. 
Yeah, I am. 

709
00:38:56,300 --> 00:39:00,800
I've nothing to say other than 
it speaks for itself, you know, 

710
00:39:00,800 --> 00:39:03,000
you kind of mentioned it before.
But like, we're we have this 

711
00:39:03,000 --> 00:39:06,100
time of economic crisis of 
Chaos. 

712
00:39:06,700 --> 00:39:11,300
We have no idea how much more 
that you know our, our Central 

713
00:39:11,300 --> 00:39:13,000
banking system is going to 
print. 

714
00:39:13,700 --> 00:39:18,200
We have no control of it. 
There's no democracy in in what 

715
00:39:18,200 --> 00:39:21,700
we print and yet we're 
incredibly Reliant and are 

716
00:39:21,700 --> 00:39:24,500
getting hurt by it. 
So you know, I think I think if 

717
00:39:24,500 --> 00:39:28,600
you're if you're looking at 
Bitcoin, we every 10 minutes, 

718
00:39:28,700 --> 00:39:31,900
the exact same thing has 
happened for the last 13 years 

719
00:39:32,700 --> 00:39:36,400
and so it's only safe to say 
that over the next 13 years, 

720
00:39:36,700 --> 00:39:39,000
Same will be true and it gives 
me Comfort. 

721
00:39:39,000 --> 00:39:42,000
And I think there's a lot of 
people comfort knowing that the 

722
00:39:42,000 --> 00:39:44,100
rules are the same for 
everybody, for four and a half 

723
00:39:44,100 --> 00:39:46,600
billion people with internet 
connection, and eight billion 

724
00:39:46,600 --> 00:39:49,600
people all around the world, 
everybody has the same exact 

725
00:39:49,600 --> 00:39:53,700
rules and knows exactly how much
Bitcoin is in existence and will

726
00:39:53,700 --> 00:39:56,400
be in existence. 
And yeah, I think people are 

727
00:39:56,400 --> 00:39:59,300
looking for truth. 
Totally agreed. 

728
00:39:59,400 --> 00:40:01,500
Absolutely. 
All right, Phil what is the 

729
00:40:01,500 --> 00:40:03,200
fair? 
What is the big deal? 

730
00:40:03,200 --> 00:40:05,600
Is a big story? 
What is the big story, bro? 

731
00:40:05,600 --> 00:40:07,500
All right, let's take a look. 
At this, this was actually I 

732
00:40:07,500 --> 00:40:10,500
think dropped in the telegram by
optimist. 

733
00:40:10,500 --> 00:40:12,000
So that's right. 
Optimist, I'm just going to 

734
00:40:12,000 --> 00:40:15,500
randomly blame you for this one.
Okay this this one's your fault.

735
00:40:15,800 --> 00:40:19,100
Here we go. 
Very interesting and kind of 

736
00:40:19,100 --> 00:40:23,600
anyways kind of weird Jay-Z's 
Bitcoin School met with 

737
00:40:23,600 --> 00:40:28,500
skepticism in his former housing
project I don't have money to be

738
00:40:28,500 --> 00:40:30,500
losing. 
Now we're going to read through 

739
00:40:30,500 --> 00:40:34,200
this and then I'm going to give 
the the framing that I think is 

740
00:40:34,200 --> 00:40:36,500
really important what the signal
is, okay. 

741
00:40:38,500 --> 00:40:39,700
Not going to go through the 
whole article. 

742
00:40:39,700 --> 00:40:42,200
We're just obviously going to 
choose out some specific pieces.

743
00:40:42,200 --> 00:40:44,500
So, here we go. 
Okay, they interviewed some 

744
00:40:44,500 --> 00:40:48,200
people from the Marcy project, 
where Jay-Z, originally grew up,

745
00:40:48,300 --> 00:40:50,400
and let's dive into this 
article. 

746
00:40:51,200 --> 00:40:55,100
It's kind of late to be doing 
that when people are trying to 

747
00:40:55,100 --> 00:40:58,700
hold on to their dollars, and 
everything is so expensive. 

748
00:40:58,700 --> 00:41:01,400
People don't want to be 
investing money knowing that 

749
00:41:01,400 --> 00:41:03,400
they might have a chance of 
losing it. 

750
00:41:03,900 --> 00:41:05,300
That's right. 
Because essentially what's 

751
00:41:05,300 --> 00:41:09,400
happening is that It's not free.
No, it's not free. 

752
00:41:09,400 --> 00:41:11,600
It's the oh wait, wait, we're 
going to talk about free in a 

753
00:41:11,608 --> 00:41:13,600
second. 
But essentially, right there is 

754
00:41:13,600 --> 00:41:16,500
a he's doing a Bitcoin course, 
okay? 

755
00:41:16,600 --> 00:41:18,700
That he partnered up with Jack. 
Dorsey, were talking about 

756
00:41:18,700 --> 00:41:22,500
Jay-Z, the rapper partnered up 
with Jack Dorsey to make a 

757
00:41:22,500 --> 00:41:27,400
Bitcoin course and there's to 
quote unquote, Bitcoin Educators

758
00:41:27,400 --> 00:41:30,900
that are involved in it, one of 
them being Lamarr Wilson bigmar.

759
00:41:31,000 --> 00:41:33,900
But anyways, this has nothing to
do with him specifically this 

760
00:41:33,900 --> 00:41:37,200
has to do with the framing, 
okay? 

761
00:41:37,300 --> 00:41:40,400
Okay, and we are going to dive 
into this a little further. 

762
00:41:40,500 --> 00:41:44,400
So they interviewed people from 
the project, from the projects 

763
00:41:44,400 --> 00:41:47,300
where he grew up and wanted to 
get their take on quote, 

764
00:41:47,300 --> 00:41:50,400
unquote, Bitcoin education. 
So, here we go. 

765
00:41:50,700 --> 00:41:54,500
Every dime I get. 
Gotta go to rent, phone TV and 

766
00:41:54,500 --> 00:41:56,500
internet. 
I don't have money like that to 

767
00:41:56,500 --> 00:41:58,800
be losing. 
If I did, I would try to invest 

768
00:41:58,800 --> 00:42:01,800
in something that's more 
reliable, like the basketball 

769
00:42:01,800 --> 00:42:05,700
game last night, you know, I'm 
gonna win something from that. 

770
00:42:06,600 --> 00:42:10,400
So just just think about the way
that these people are viewing 

771
00:42:10,400 --> 00:42:13,300
Bitcoin. 
So here we go, the 12-week 

772
00:42:13,300 --> 00:42:16,100
Bitcoin Academy course will be 
taught by Lamarr Wilson, who 

773
00:42:16,100 --> 00:42:19,500
runs the website black Bitcoin, 
billionaire and Naja, Jay 

774
00:42:19,500 --> 00:42:23,900
Roberts, founder, and CEO of a 
brick-and-mortar crypto School 

775
00:42:23,900 --> 00:42:28,100
in California called crypto 
blockchain plug. 

776
00:42:28,700 --> 00:42:31,200
The simple goal is to provide 
people tools to build 

777
00:42:31,200 --> 00:42:34,400
Independence for themselves and 
then the communities around 

778
00:42:34,400 --> 00:42:37,200
them. 
The academy also plans to Grant 

779
00:42:37,200 --> 00:42:40,500
students a small amount of 
Bitcoin worth around 20 to 25 

780
00:42:40,500 --> 00:42:44,100
dollars, after they learn to set
up their own digital wallets. 

781
00:42:44,400 --> 00:42:48,200
The spokesperson said an open 
house event that Marcy over the 

782
00:42:48,200 --> 00:42:53,000
weekend, drew a large and eager 
crowd of mostly seniors and 

783
00:42:53,000 --> 00:42:55,500
young people but younger Marcy 
house. 

784
00:42:55,500 --> 00:42:58,100
Tenants who spoke to the 
guardian were unenthused. 

785
00:42:58,800 --> 00:43:03,800
Yasha Figaro, a 24-year old 
resident who plans to work as a 

786
00:43:03,800 --> 00:43:06,700
caretaker for mentally. 
Challenged people said the 

787
00:43:06,700 --> 00:43:10,700
Bitcoin Academy seems unhelpful 
to residents. 

788
00:43:12,300 --> 00:43:15,400
Half the people that's going to 
go to that class, probably just 

789
00:43:15,400 --> 00:43:18,800
gonna go to the class for the 
$25 that you get the other half 

790
00:43:18,800 --> 00:43:20,700
of the people. 
They'll probably take what they 

791
00:43:20,700 --> 00:43:22,900
learn and forget it down the 
line. 

792
00:43:23,300 --> 00:43:27,500
Figura said that Bitcoin class 
signified. 

793
00:43:27,600 --> 00:43:32,200
How out of touch the rapper was 
with his former home. 

794
00:43:32,700 --> 00:43:35,200
If you want to do something, fix
this place up. 

795
00:43:35,200 --> 00:43:38,400
She said, we have a basketball 
court with no Hoops are. 

796
00:43:38,400 --> 00:43:42,900
Park is broken up in here. 
Should be doing more for his 

797
00:43:42,900 --> 00:43:46,000
community, not know Bitcoin 
Academy. 

798
00:43:46,400 --> 00:43:51,700
The only thing I could say he 
really did for us was the 

799
00:43:51,700 --> 00:43:55,900
Christmas stuff, every Christmas
he would come around and he 

800
00:43:55,900 --> 00:43:59,300
would give out free toys to the 
kids or like pocketbooks 

801
00:43:59,300 --> 00:44:02,000
perfumes and little MP3 players.
That was good. 

802
00:44:02,600 --> 00:44:07,300
The Bitcoin ain't One, Marcy 
resident. 

803
00:44:07,300 --> 00:44:11,500
Luis Rivas did Express 
enthusiasm for the class saying,

804
00:44:11,800 --> 00:44:15,600
I would like to learn how they 
became a millionaire and learn 

805
00:44:15,600 --> 00:44:18,600
what to trade and what not to 
trade Revis. 

806
00:44:18,600 --> 00:44:21,900
Who is unemployed said, he had 
been acquainted with Jay-Z when 

807
00:44:21,900 --> 00:44:25,400
they were both teenagers. 
Now, he's a billionaire and I'm 

808
00:44:25,400 --> 00:44:29,200
still living in the F and ghetto
since it was announced last 

809
00:44:29,200 --> 00:44:31,700
week, the Bitcoin Academy has 
faced criticism from Tech 

810
00:44:31,700 --> 00:44:34,600
commentators who have accused 
the project of preying on. 

811
00:44:34,800 --> 00:44:38,500
Eventually vulnerable people, 
some have compared to marketing 

812
00:44:38,500 --> 00:44:41,500
of crypto. 
To how predatory lenders, 

813
00:44:41,600 --> 00:44:46,200
targeted, people of color with 
subprime loans in the run-up to 

814
00:44:46,200 --> 00:44:50,700
the 2008. 
Housing crisis 2021 research 

815
00:44:50,700 --> 00:44:51,800
paper. 
Commissioned by the New York 

816
00:44:51,800 --> 00:44:54,700
city-based crypto currency 
exchange, Gemini argued that 

817
00:44:54,700 --> 00:44:58,200
cryptocurrency could benefit 
unbanked populations in Mexico. 

818
00:44:58,200 --> 00:45:02,400
India and Indonesia. 
Citing centuries-old informal. 

819
00:45:02,400 --> 00:45:04,000
Latin American financial 
institutions. 

820
00:45:04,000 --> 00:45:06,400
The paper are Gue the 
cryptocurrency companies can 

821
00:45:06,400 --> 00:45:09,500
build upon and digitize 
practices that assist in the 

822
00:45:09,500 --> 00:45:12,600
creation of wealth for poor 
communities and allow them to 

823
00:45:12,600 --> 00:45:15,900
thrive in locations deemed 
unprofitable by traditional 

824
00:45:16,200 --> 00:45:19,500
banking standards, Gerald a 
Brooklyn resident with friends 

825
00:45:19,500 --> 00:45:21,700
and family. 
Living at Marcy, runs a small 

826
00:45:21,700 --> 00:45:24,700
charity that gives people 
Bitcoin but even he said that 

827
00:45:24,700 --> 00:45:28,500
financial literacy wouldn't 
solve Marcy's. 

828
00:45:28,500 --> 00:45:33,000
Biggest issue which is a lack of
capital, a lack of resources and

829
00:45:33,000 --> 00:45:36,400
a lack of funding for our 
Communities teaching someone 

830
00:45:36,400 --> 00:45:40,200
about Bitcoin that doesn't even 
have $100 in their savings 

831
00:45:40,200 --> 00:45:44,200
account, is not helpful on the 
surface. 

832
00:45:44,200 --> 00:45:48,000
It looks like folks want to help
but once you start peeling back 

833
00:45:48,000 --> 00:45:51,800
the layers, you realize nobody 
really cares. 

834
00:45:52,100 --> 00:45:57,000
Okay, so look, there is a lot, a
lot to unpack here. 

835
00:45:57,200 --> 00:46:00,900
Okay, so I'm going to, I'm going
to start off before it before I 

836
00:46:00,900 --> 00:46:04,800
kick it over to Alex because 
this is not cut and dry this Is 

837
00:46:04,800 --> 00:46:09,800
not black and white, okay? 
The fact that people we're 

838
00:46:09,800 --> 00:46:13,000
seeing a disparity here. 
Number one, we're seeing what I 

839
00:46:13,000 --> 00:46:15,300
believe this. 
What I believe this article 

840
00:46:15,300 --> 00:46:21,100
illustrates the most is the lack
of financial education and don't

841
00:46:21,100 --> 00:46:23,300
get me wrong. 
I do believe that these people 

842
00:46:23,300 --> 00:46:27,100
are correct that many of these 
areas do not have the resources.

843
00:46:27,100 --> 00:46:31,700
Do not have the proper 
communities in order to try to 

844
00:46:31,700 --> 00:46:36,300
build security and to try to 
Let's say, quote unquote, bring 

845
00:46:36,300 --> 00:46:39,700
back vibrancy and wealth to 
those communities. 

846
00:46:39,800 --> 00:46:43,900
It's very difficult. 
Once something falls into quote 

847
00:46:43,900 --> 00:46:46,000
unquote poverty. 
Okay. 

848
00:46:46,200 --> 00:46:50,300
So I do believe that the 
education is missing but 

849
00:46:50,300 --> 00:46:52,500
something that really scares me,
okay? 

850
00:46:52,500 --> 00:46:56,300
And this has nothing to do in 
any way shape, or form with 

851
00:46:56,300 --> 00:46:58,400
color. 
My wife is a social worker. 

852
00:46:58,500 --> 00:47:03,100
Okay, I myself, when I was back 
in Montreal, I used to do, PC 

853
00:47:03,100 --> 00:47:06,900
repair for people. 
So that were on welfare and that

854
00:47:06,900 --> 00:47:10,200
we're getting social assistance.
This has nothing to do with it. 

855
00:47:10,400 --> 00:47:16,600
The point is, is that handouts 
do not help and I understand 

856
00:47:16,600 --> 00:47:21,000
their point about wanting 
certain things, but at the end 

857
00:47:21,000 --> 00:47:26,200
of the day, an MP3 player is not
going to help somebody get back 

858
00:47:26,200 --> 00:47:31,100
on their feet, and figure out 
how they can produce a better 

859
00:47:31,100 --> 00:47:35,300
life for themselves and their 
family and all those Financial 

860
00:47:35,300 --> 00:47:38,400
literacy will not help on the 
moment. 

861
00:47:39,400 --> 00:47:44,000
Bitcoin is a long low time, 
preference tool. 

862
00:47:44,200 --> 00:47:48,500
And I believe, I'd like to 
believe that Jay-Z and Jack 

863
00:47:48,500 --> 00:47:52,800
Dorsey are attempting to 
introduce some low time. 

864
00:47:52,800 --> 00:47:58,000
Preference thought into these 
communities to help raise 

865
00:47:58,000 --> 00:48:00,800
themselves. 
Now, the other piece that I was,

866
00:48:00,800 --> 00:48:05,000
you're criticizing the, how, 
the, how the Legacy Media framed

867
00:48:05,000 --> 00:48:06,500
that article? 
Yes. 

868
00:48:06,600 --> 00:48:07,900
Okay. 
Because I was a bit confused. 

869
00:48:07,900 --> 00:48:10,900
I was like, okay, are you at 
Jay-Z Jack dorso. 

870
00:48:10,900 --> 00:48:12,600
No. 
Are you criticizing the thing? 

871
00:48:12,600 --> 00:48:14,900
Because I agree with you. 
I think that, I think that 

872
00:48:14,900 --> 00:48:17,800
that's a noble goal. 
I think that a lot of the 

873
00:48:17,800 --> 00:48:21,300
poverty comes from the fact that
the money is broken, right? 

874
00:48:21,300 --> 00:48:24,400
So look, I was sleeping on a 
couch six years ago, okay? 

875
00:48:24,400 --> 00:48:27,800
So like Bitcoin completely 
changed my life, right? 

876
00:48:27,800 --> 00:48:32,200
So I really believe like even if
you're you know, very poor. 

877
00:48:32,500 --> 00:48:35,600
I think that if you start 
earning in Bitcoin, right? 

878
00:48:36,200 --> 00:48:38,600
I think it's going to help you. 
I think the benefits of the D of

879
00:48:38,600 --> 00:48:40,400
deflation. 
Missionary currency are 

880
00:48:40,400 --> 00:48:44,200
undeniable not only from a 
financial standpoint but also 

881
00:48:44,200 --> 00:48:46,900
from a psychological standpoint 
as well, right. 

882
00:48:46,900 --> 00:48:52,400
I think that Bitcoin makes you 
hopeful about the future whereas

883
00:48:52,400 --> 00:48:56,300
in a fiat currency man, 
inflation is terrible, right? 

884
00:48:56,300 --> 00:48:59,800
You're constantly like working 
harder and harder for less 

885
00:48:59,800 --> 00:49:01,400
money. 
That's my take. 

886
00:49:02,000 --> 00:49:06,000
Yeah, and I man, I definitely, I
definitely agree in the one 

887
00:49:06,000 --> 00:49:08,800
piece that I just wanted to add 
before we before we pass it 

888
00:49:08,800 --> 00:49:12,800
over. 
Alex is this I think that 

889
00:49:12,800 --> 00:49:17,700
unfortunately, it needs to it 
needs to be very clear that 

890
00:49:17,700 --> 00:49:21,900
there is a very big difference 
between Bitcoin and should coins

891
00:49:22,200 --> 00:49:25,400
okay. 
And without going into, you 

892
00:49:25,400 --> 00:49:27,600
know, attacking people 
personally for the things that 

893
00:49:27,600 --> 00:49:31,700
they shill okay, or don't chill,
I think that what's very 

894
00:49:31,700 --> 00:49:34,300
important because I saw that 
comment about, hey, you know, 

895
00:49:34,300 --> 00:49:37,000
like the way that the, you know,
that certain people were taken 

896
00:49:37,000 --> 00:49:40,600
advantage of in the mortgage 
crisis This is why people need 

897
00:49:40,600 --> 00:49:44,600
to understand the true 
difference between Bitcoin and 

898
00:49:44,600 --> 00:49:46,200
shit coins. 
Because if these people really 

899
00:49:46,200 --> 00:49:49,900
do, if all people really want to
empower themselves, they really 

900
00:49:49,900 --> 00:49:52,400
do need to be looking at 
Bitcoin. 

901
00:49:52,400 --> 00:49:56,700
Only everything else in the 
space is an affinity scam. 

902
00:49:56,800 --> 00:50:02,200
Has a head to chop off is not 
Bitcoin was created with the 

903
00:50:02,200 --> 00:50:05,900
intention of profit. 
They are all trying to imitate 

904
00:50:05,900 --> 00:50:09,000
Bitcoin anyways. 
Alex, any thoughts on this? 

905
00:50:09,200 --> 00:50:12,100
My friend. 
Yeah, I think you guys hit the 

906
00:50:12,108 --> 00:50:14,900
nail on the head. 
I think the one of the biggest 

907
00:50:15,100 --> 00:50:18,300
problems with the world right 
now is the lack of financial 

908
00:50:18,300 --> 00:50:23,000
education, you know II felt like
I was even had a particularly 

909
00:50:23,000 --> 00:50:28,900
good education studied economics
in college and I left college. 

910
00:50:28,900 --> 00:50:32,200
And and you know, when I started
to learn about Bitcoin I was 

911
00:50:32,200 --> 00:50:33,700
like, oh my God, what was I 
doing? 

912
00:50:33,700 --> 00:50:36,500
What did I learn? 
The the amount of like 

913
00:50:36,500 --> 00:50:39,600
brainwashing that we have in the
US and probably Many parts of 

914
00:50:39,600 --> 00:50:42,400
the world about money, it's just
not real. 

915
00:50:42,900 --> 00:50:46,700
You know, you don't you don't 
you don't learn about what's 

916
00:50:46,700 --> 00:50:51,000
actually happening. 
And so I even I feel like, you 

917
00:50:51,000 --> 00:50:54,700
know, people that were that are 
growing up in Marcy project. 

918
00:50:55,800 --> 00:50:59,200
The frustration is that it, you 
know, in seeing those remarks 

919
00:50:59,700 --> 00:51:03,500
I'll be at anecdotal and 
probably like, you know, picked 

920
00:51:03,500 --> 00:51:06,300
out and a little bit out of 
context of pain, Bitcoin in a 

921
00:51:06,308 --> 00:51:07,700
negative light and a little bit 
of food. 

922
00:51:07,700 --> 00:51:12,600
There is I would say that like 
the rebuttal there is like look 

923
00:51:13,200 --> 00:51:15,400
you don't have to be a part of 
this. 

924
00:51:15,400 --> 00:51:20,100
Like there's there's a there's 
Outreach to try to educate this 

925
00:51:20,100 --> 00:51:25,100
this group of people on bitcoin.
And like I think that the 

926
00:51:25,100 --> 00:51:28,400
principle is that Bitcoin and 
stills are net positive, whether

927
00:51:28,400 --> 00:51:31,700
you you agree with them or not. 
I think it's incredibly 

928
00:51:31,700 --> 00:51:34,900
important to learn about how 
money works, and then make your 

929
00:51:34,900 --> 00:51:37,400
own decisions. 
And you know, when you talk 

930
00:51:37,400 --> 00:51:40,400
about like, you know, shit 
coins, I don't think people give

931
00:51:40,600 --> 00:51:44,400
are able to without learning 
about Bitcoin first. 

932
00:51:44,400 --> 00:51:46,200
The principles that Bitcoin and 
Sills. 

933
00:51:46,700 --> 00:51:50,100
I always like, you know why 
we're Bitcoin first company is 

934
00:51:50,100 --> 00:51:53,000
Bitcoin. 
Only is I think it's incredibly 

935
00:51:53,000 --> 00:51:55,300
important that people's on-ramp 
be Bitcoin. 

936
00:51:55,300 --> 00:51:58,300
We can't control, you know, the 
free market and and you know, 

937
00:51:58,300 --> 00:52:00,900
people are going to want to earn
and do whatever they want to do.

938
00:52:01,200 --> 00:52:04,600
And you know, they're there will
most likely be a time where we 

939
00:52:04,600 --> 00:52:08,000
have to expand into other 
currencies and and that will be 

940
00:52:08,000 --> 00:52:12,000
just you know, the the Necessary
part of it based on the the 

941
00:52:12,000 --> 00:52:16,300
demand, the piece that I will 
always hold true and that I 

942
00:52:16,300 --> 00:52:20,200
strongly believe in is that you 
need to educate people about the

943
00:52:20,200 --> 00:52:23,300
importance of Bitcoin and the 
end of the day, everything will 

944
00:52:23,300 --> 00:52:25,800
flow into Bitcoin. 
Bitcoin will suck up every 

945
00:52:25,800 --> 00:52:27,900
currency in the world because it
is that powerful. 

946
00:52:27,900 --> 00:52:33,400
And the sooner that you realize 
why it's going to take over the 

947
00:52:33,400 --> 00:52:35,500
better. 
And if you're started, learning 

948
00:52:35,500 --> 00:52:39,400
of like these like false 
principles on other, these are 

949
00:52:39,400 --> 00:52:41,800
trying to make a quick dollar. 
Those are the things to be 

950
00:52:41,800 --> 00:52:43,400
scared of. 
Those are the things that are 

951
00:52:43,400 --> 00:52:47,200
like chasing chasing a dollar 
like the next nft scam. 

952
00:52:47,200 --> 00:52:51,600
The next pump of some shit coin 
to get rich or Ponzi scheme or 

953
00:52:51,600 --> 00:52:53,000
whatever. 
It's like, that's not what 

954
00:52:53,000 --> 00:52:56,100
Bitcoin was built on bitcoin was
built out of the financial 

955
00:52:56,100 --> 00:53:01,900
crisis to, to solve the 
inequalities that are that are 

956
00:53:01,900 --> 00:53:04,500
existing broken Financial 
system. 

957
00:53:05,200 --> 00:53:07,600
You know, brought about that was
hurting those people in the, the

958
00:53:07,600 --> 00:53:10,100
Marcy Projects and still is 
hurting Today. 

959
00:53:10,300 --> 00:53:13,200
So how do we break, break them, 
free of that? 

960
00:53:13,200 --> 00:53:16,000
The only way to do it is to see 
the truth and to see like the 

961
00:53:16,000 --> 00:53:19,000
holistic picture of money and 
then let them decide. 

962
00:53:20,100 --> 00:53:25,200
Absolutely useless. 
I agree, and real quick, Phil, I

963
00:53:25,300 --> 00:53:29,900
hope that this is free. 
I hope that, you know, Jay Z and

964
00:53:29,900 --> 00:53:33,900
Josh decided to be if it's free 
then I applaud them. 

965
00:53:33,900 --> 00:53:36,000
I think it's a good thing I 
agree with Alex. 

966
00:53:36,000 --> 00:53:39,700
I think the world needs more 
financial education and 

967
00:53:39,700 --> 00:53:43,600
hopefully some of those people, 
you know, they start earning it 

968
00:53:43,600 --> 00:53:46,200
Bitcoin, right? 
And to get out of the, to get 

969
00:53:46,200 --> 00:53:48,800
out of the Rat Race, so to speak
and to get out of poverty, 

970
00:53:48,800 --> 00:53:52,200
because It's terrible. 
And look, I think that by fixing

971
00:53:52,200 --> 00:53:56,000
the money, I really do believe. 
We'll fix the world and I think 

972
00:53:56,000 --> 00:54:00,200
a lot of the poverty in today's 
world is caused by Broken money.

973
00:54:00,400 --> 00:54:02,300
Right? 
Because that's what Fiat has its

974
00:54:02,300 --> 00:54:05,400
wealth redistribution from the 
poor and middle class that don't

975
00:54:05,400 --> 00:54:08,200
have the means to save and 
equities and real estate and its

976
00:54:08,200 --> 00:54:10,800
wealth redistribution to the 
wealthy that benefit from a 

977
00:54:10,800 --> 00:54:14,200
sand, flea asset inflation and 
the government. 

978
00:54:14,200 --> 00:54:16,100
Right? 
But anyways, feel there was a 

979
00:54:16,100 --> 00:54:17,200
website by please. 
Why don't you? 

980
00:54:17,400 --> 00:54:19,700
Why don't you show everybody 
websites brought. 

981
00:54:19,800 --> 00:54:22,100
To you by Cipher safe. 
Check them out. 

982
00:54:22,100 --> 00:54:27,300
Cipher safe dot, IO papers dead.
Don't store your seed on paper 

983
00:54:27,500 --> 00:54:30,300
store, your seed in the Cipher 
wheel or the all new Cipher 

984
00:54:30,300 --> 00:54:32,000
grid. 
They both come with a 

985
00:54:32,008 --> 00:54:35,000
tamper-resistant wire and the 
grid comes with a cool blue 

986
00:54:35,000 --> 00:54:38,200
punch tool. 
All right guys, we've got a site

987
00:54:38,200 --> 00:54:44,300
from fellow bitcoiners mr. 
Crown and Max by bit or Max bit 

988
00:54:44,300 --> 00:54:46,500
by bit. 
Definitely check them out. 

989
00:54:46,508 --> 00:54:48,300
These guys are great content 
creators. 

990
00:54:48,300 --> 00:54:54,200
They've got an awesome Website 
called ungovernable Misfits.com.

991
00:54:54,300 --> 00:54:57,400
Yes, it's not just selling, it's
not just selling clothes, 

992
00:54:57,400 --> 00:54:59,800
they've got their podcast listed
here. 

993
00:55:00,100 --> 00:55:03,500
They've got articles, they've 
got documentaries, so it's not 

994
00:55:03,500 --> 00:55:06,100
just clothes. 
It's also an education portal 

995
00:55:06,100 --> 00:55:10,500
and these guys put out some of 
the best Bitcoin signal. 

996
00:55:10,700 --> 00:55:14,900
So definitely check them out. 
Ungovernable Misfits.com, the 

997
00:55:14,900 --> 00:55:19,500
link will be in the show notes 
and guys, don't forget to check 

998
00:55:19,500 --> 00:55:21,600
us out. 
Out, on our Audio, Only 

999
00:55:22,000 --> 00:55:26,600
platforms Apple podcasts Spotify
and anchor. 

1000
00:55:26,800 --> 00:55:29,500
If you want to stream a SATs. 
Check us out on Fountain. 

1001
00:55:29,600 --> 00:55:31,400
Dot f m--. 
You could stream assets through 

1002
00:55:31,400 --> 00:55:32,600
Breeze. 
Awesome. 

1003
00:55:32,600 --> 00:55:35,400
Thank you for your guys before 
we going to give a very special 

1004
00:55:35,400 --> 00:55:39,000
shout-out to Pirate. 
Beach Bums, new writing stuff. 

1005
00:55:39,000 --> 00:55:41,100
I think we're going to do 
something together, check it 

1006
00:55:41,100 --> 00:55:43,000
out. 
The bear Market Diaries is in 

1007
00:55:43,000 --> 00:55:45,000
the link description. 
Also want to give a shout-out to

1008
00:55:45,000 --> 00:55:48,100
our clothing. 
Sponsor represent LTD.com Phil 

1009
00:55:48,100 --> 00:55:50,200
and I wear the hoodies, every 
Gold. 

1010
00:55:50,200 --> 00:55:54,500
A heat David is making Bitcoin 
merge and simply Bitcoin merch 

1011
00:55:54,500 --> 00:55:56,800
very soon. 
Stay tuned. 

1012
00:55:56,800 --> 00:56:00,200
Also want to give a very, very, 
very special shout-out to our 

1013
00:56:00,200 --> 00:56:02,400
awesome. 
Guess you can give them a follow

1014
00:56:02,600 --> 00:56:05,600
on Twitter. 
Alex app, Alderman, Alderman. 

1015
00:56:05,600 --> 00:56:07,000
I totally butcher the 
pronunciation. 

1016
00:56:07,000 --> 00:56:08,000
I'm sorry. 
Alex. 

1017
00:56:08,200 --> 00:56:12,600
Anyways, go check out LOL. 
E.com, earn free rewards at. 

1018
00:56:12,600 --> 00:56:18,900
1000 top stores. 2,000-plus top 
stores, earn up to 30%, back in 

1019
00:56:18,900 --> 00:56:21,900
Bitcoin or Or cash. 
Anyways guys, that was our show.

1020
00:56:21,900 --> 00:56:23,500
If you enjoyed the show, you 
know what to do? 

1021
00:56:23,500 --> 00:56:26,600
Smash of course, you want to 
continue hearing the Bitcoin. 

1022
00:56:26,600 --> 00:56:29,100
Use from the Polly Platt 
perspective in the catastrophic 

1023
00:56:29,100 --> 00:56:32,200
fails from the same perspective,
in the awesome memes. 

1024
00:56:32,200 --> 00:56:34,500
From the plebs. 
Definitely consider subscribing 

1025
00:56:34,500 --> 00:56:37,400
to Simply Bitcoin and we'll see 
you on Monday guys for my brand.

1026
00:56:37,400 --> 00:56:41,300
New episode lower your time. 
Preference zoom out. 

1027
00:56:41,300 --> 00:56:42,700
It's time for Bitcoin.