1 00:00:00,160 --> 00:00:01,640 Hey there, this is from Constana. 2 00:00:01,640 --> 00:00:03,240 You're listening to Bitcoin for Millennials. 3 00:00:03,240 --> 00:00:05,840 With my guests on this podcast, I go on a journey to discover 4 00:00:05,840 --> 00:00:08,640 how our current financial system works, why it's flawed, and why 5 00:00:08,640 --> 00:00:11,320 Bitcoin is the most relevant technological discovery that you 6 00:00:11,320 --> 00:00:15,040 should understand and adopt. In this episode episode, I'm 7 00:00:15,040 --> 00:00:18,520 joined again by Eric Fee Stacks. He's a cannabis farmer in 8 00:00:18,520 --> 00:00:20,920 Northern California and an incredible Bitcoin content 9 00:00:20,920 --> 00:00:23,000 creator. So I'm super excited to talk 10 00:00:23,000 --> 00:00:26,640 with him again and jam together about different Bitcoin topics. 11 00:00:26,640 --> 00:00:28,720 And we're doing it live. Welcome man. 12 00:00:29,920 --> 00:00:32,439 Hey man, thanks for having me. Awesome. 13 00:00:32,840 --> 00:00:36,920 See you again after our time together in Madeira. 14 00:00:37,640 --> 00:00:41,040 Yeah, man. How did you find that? 15 00:00:42,960 --> 00:00:46,560 So I went to Pacific Bitcoin in October. 16 00:00:46,560 --> 00:00:49,840 That was the first Bitcoin gathering that I had been to. 17 00:00:49,840 --> 00:00:52,840 It was actually the first time that I had been around any other 18 00:00:52,840 --> 00:00:55,800 bitcoiners in real life or in Meet Space. 19 00:00:57,480 --> 00:01:00,520 And at the time I hadn't posted anything on Twitter so nobody 20 00:01:00,520 --> 00:01:03,600 knew who I was or anything. And so it was kind of a very 21 00:01:03,600 --> 00:01:09,080 surreal experience being around so many like minded individuals 22 00:01:09,080 --> 00:01:11,760 and then getting feedback from people who have like watched 23 00:01:11,760 --> 00:01:14,880 some of my content and like making these connections in the 24 00:01:14,880 --> 00:01:18,160 real world with people that I've like been messaging back and 25 00:01:18,160 --> 00:01:19,920 forth with like you're one of them. 26 00:01:19,920 --> 00:01:25,680 It was a powerful experience. The energy is so incredible at 27 00:01:25,680 --> 00:01:28,680 these with with bitcoiners, especially when you put so many 28 00:01:28,680 --> 00:01:31,760 of them in one space. Everybody is happy and 29 00:01:31,760 --> 00:01:38,520 optimistic and healthy. It's really a a very energizing, 30 00:01:38,840 --> 00:01:42,600 empowering and like motivating social gathering. 31 00:01:42,880 --> 00:01:44,560 It really is. It's on another level. 32 00:01:45,000 --> 00:01:46,600 Yeah, yeah, man. I loved it too. 33 00:01:46,600 --> 00:01:48,760 I think. I think you have the same 34 00:01:48,760 --> 00:01:49,960 experience, right? Like this. 35 00:01:49,960 --> 00:01:54,360 You're like IRL circle is very small, like your real life 36 00:01:54,360 --> 00:01:57,440 circle is very small. Like people you actually talk 37 00:01:58,200 --> 00:02:01,400 talk with about about Bitcoin. And I have exactly the same. 38 00:02:01,400 --> 00:02:05,080 Actually my first conference was in Amsterdam like late last year 39 00:02:05,560 --> 00:02:08,240 and I had the exact same feeling, like I just went alone 40 00:02:08,320 --> 00:02:11,400 and I went to a talk of rational roots, I think. 41 00:02:11,760 --> 00:02:14,480 And I was just standing there and it was backed like I was 42 00:02:14,480 --> 00:02:17,840 standing in the back in the hallway and I was like, wow, 43 00:02:17,840 --> 00:02:20,880 this is like all these people are into the same thing, you 44 00:02:20,880 --> 00:02:24,280 know? And and I never realized that 45 00:02:24,320 --> 00:02:26,600 there were so many people, you know, even though maybe there's 46 00:02:26,600 --> 00:02:30,040 like 1000 or 2000 people walking around or something, it's just 47 00:02:30,040 --> 00:02:32,360 already way bigger than what I experienced before. 48 00:02:32,360 --> 00:02:36,000 And of course we have like online and audience and that's 49 00:02:36,000 --> 00:02:38,880 hundreds or sometimes thousands of people, you know, who listen. 50 00:02:38,880 --> 00:02:42,520 But that is it's different. It's it's it's really different 51 00:02:42,520 --> 00:02:46,120 when you feel like the real energy with real people. 52 00:02:46,120 --> 00:02:51,160 And especially for me, that first talk of Jack Mahler's in 53 00:02:51,160 --> 00:02:53,840 Madeira, it was like, I'm going to explain Bitcoin you said. 54 00:02:53,840 --> 00:02:55,240 And I thought, well, I know this. 55 00:02:55,360 --> 00:02:58,040 I know this stuff. But honestly that was maybe the 56 00:02:58,040 --> 00:03:01,440 best Bitcoin explainer I've I've seen in the past ten years. 57 00:03:01,440 --> 00:03:04,640 And you could feel the energy of the people like, wow, OK, look 58 00:03:04,640 --> 00:03:08,320 at this guy talk and and how he was transmitting his energy. 59 00:03:08,320 --> 00:03:10,440 You know, like, how did you feel that? 60 00:03:12,320 --> 00:03:18,080 I think it's there's something there where, like you with 61 00:03:18,080 --> 00:03:21,600 Bitcoin, you always have to maintain this era of humility. 62 00:03:21,600 --> 00:03:24,360 You got to, you got to expect that you're going to learn 63 00:03:24,360 --> 00:03:27,920 something new or you're going to learn the next layer. 64 00:03:28,120 --> 00:03:30,800 You're going to go deeper, deeper into the rabbit hole. 65 00:03:31,040 --> 00:03:34,480 And if you don't maintain that era of humility like you'll get 66 00:03:34,680 --> 00:03:38,120 wrecked even if it's in like hey I missed out on listening to 67 00:03:38,120 --> 00:03:41,240 Jack Mahler's say something that was really important and thought 68 00:03:41,240 --> 00:03:43,600 provoke provoking because I thought I knew he was going to 69 00:03:43,600 --> 00:03:46,440 say something that or I thought I knew what he was going to say. 70 00:03:46,800 --> 00:03:52,080 And so yeah, I always, you know, I I maintain that humility and I 71 00:03:52,080 --> 00:03:58,240 think it's also important in life at least for me to to to 72 00:03:58,240 --> 00:04:01,680 keep in mind that at any point, at any time everything that you 73 00:04:01,680 --> 00:04:05,360 ever thought was true or you believed could completely be 74 00:04:05,360 --> 00:04:08,680 shattered and disrupted. It's like the it's the it's like 75 00:04:08,680 --> 00:04:11,800 the anti cognitive dissonance, right. 76 00:04:11,800 --> 00:04:15,560 And like maintaining that is I think very important and it 77 00:04:15,560 --> 00:04:18,040 keeps you open, it keeps you malleable. 78 00:04:18,040 --> 00:04:20,760 It keeps it so that you can continue to learn. 79 00:04:21,120 --> 00:04:23,960 And I think, and it's actually like in normie land, I find that 80 00:04:23,960 --> 00:04:28,240 the people who are the hardest to talk to about Bitcoin are the 81 00:04:28,240 --> 00:04:32,160 most educated because they developed this hubris and this 82 00:04:32,160 --> 00:04:35,040 idea that, like, they've got it all figured out and they can 83 00:04:35,040 --> 00:04:39,240 explain the nebulous, ambiguous Keynesian bullshit lie. 84 00:04:39,240 --> 00:04:41,280 And it's all you could never understand. 85 00:04:41,280 --> 00:04:45,000 And like, so I just find that, like, I don't know, just being 86 00:04:45,000 --> 00:04:48,000 open to the notion that, like, you're about to learn something 87 00:04:48,000 --> 00:04:51,440 new at any point from anybody. I think it's a very important 88 00:04:51,440 --> 00:04:53,240 thing, you know? Otherwise, we end up, like, 89 00:04:53,240 --> 00:04:59,640 really stifling the flow of of knowledge and experience in life 90 00:04:59,640 --> 00:05:02,400 as soon as you, you know, kind of make the decision that you've 91 00:05:02,400 --> 00:05:05,000 got it all figured out. And so, you know, I think that 92 00:05:05,000 --> 00:05:07,440 was a great example with Jack Mahler's I'm going to explain 93 00:05:07,440 --> 00:05:09,040 Bitcoin. I'm sure half the people were 94 00:05:09,040 --> 00:05:11,360 like, oh, OK, I'm going to start tweeting or start, you know, I'm 95 00:05:11,360 --> 00:05:12,960 going to walk out and get breakfast. 96 00:05:12,960 --> 00:05:17,040 And then there he just drops the heat, dude, on a whole new 97 00:05:17,040 --> 00:05:20,320 level. So yeah, I love it. 98 00:05:20,440 --> 00:05:21,920 Hey there. Thanks so much for listening to 99 00:05:21,920 --> 00:05:23,720 this episode. I just really want to ask you 100 00:05:23,720 --> 00:05:26,720 for a quick favor. Over the last few months, I've 101 00:05:26,720 --> 00:05:30,440 seen that only 75% of people who listen to this podcast or watch 102 00:05:30,440 --> 00:05:32,440 it on YouTube are actually subscribed. 103 00:05:32,440 --> 00:05:35,120 The most important thing I'm currently focusing on, next to 104 00:05:35,120 --> 00:05:37,880 hopefully giving you interesting conversations is growing this 105 00:05:37,880 --> 00:05:40,960 podcast subscriber base so I can continue with it into the 106 00:05:40,960 --> 00:05:43,000 future. I want to thank everyone who's 107 00:05:43,000 --> 00:05:45,760 been viewing and listening to Bitcoin for millennials leaving 108 00:05:45,760 --> 00:05:47,520 comments here and sending me DMS. 109 00:05:47,520 --> 00:05:49,000 It's been super, super motivating. 110 00:05:49,000 --> 00:05:51,880 So thank you so much. So I really want to ask you to 111 00:05:51,880 --> 00:05:54,600 please hit the subscribe button on YouTube or follow me on your 112 00:05:54,600 --> 00:05:58,000 favorite podcasting app if you are enjoying this podcast. 113 00:05:58,240 --> 00:06:00,040 Thanks again for joining me on this journey. 114 00:06:00,280 --> 00:06:03,040 Now back to the conversation 100%. 115 00:06:03,160 --> 00:06:05,920 But I also, I think what you said, it is the cognitive 116 00:06:05,920 --> 00:06:11,880 dissonance and the comfort people find in not not leaning 117 00:06:11,880 --> 00:06:15,880 into that, right. Probably unconsciously as well, 118 00:06:15,960 --> 00:06:18,000 right? Like subconsciously in a sense 119 00:06:18,000 --> 00:06:20,920 that they they feel the resistance. 120 00:06:20,920 --> 00:06:24,480 Like in some way they they listen to you because they have 121 00:06:24,480 --> 00:06:27,000 a first impression of you. You know when you when you talk 122 00:06:27,000 --> 00:06:29,480 to people like, OK, this is maybe a smart guy or he's 123 00:06:29,480 --> 00:06:31,160 enthusiastic about Bitcoin or something. 124 00:06:31,160 --> 00:06:36,800 But then at one point along the conversation, something triggers 125 00:06:36,800 --> 00:06:40,160 them that closes them down instead of leaning into it. 126 00:06:40,160 --> 00:06:44,160 Like, OK, you know, I know that I don't know everything. 127 00:06:44,560 --> 00:06:49,040 And so it's actually interesting and fun to hear this other 128 00:06:49,040 --> 00:06:53,440 person out and see how that can help me maybe change my mind or 129 00:06:53,440 --> 00:06:55,440 think better or learn something like you said. 130 00:06:55,440 --> 00:07:00,720 And just, I don't know, like I also feel lucky a bit like I am 131 00:07:00,720 --> 00:07:03,080 like that, you know, I like to learn stuff. 132 00:07:03,120 --> 00:07:07,480 I like to dig into stuff. So I, I, I, I do understand that 133 00:07:07,480 --> 00:07:09,240 it is a certain personality trait. 134 00:07:09,240 --> 00:07:13,840 But like the total other side of that like actually today I was 135 00:07:13,840 --> 00:07:16,080 on LinkedIn. I got into this discussion like 136 00:07:16,080 --> 00:07:19,920 I shouldn't have done that. But you know there's people that 137 00:07:19,920 --> 00:07:25,480 are so aggressively wrong about Bitcoin that I am like I'm I'm. 138 00:07:25,520 --> 00:07:29,120 I feel empathetic. As in like I would love to save 139 00:07:29,120 --> 00:07:32,840 you, but I cannot save you and and save saving those people is 140 00:07:32,840 --> 00:07:36,440 not even about you have to buy Bitcoin, but more like please 141 00:07:36,440 --> 00:07:40,960 understand that you are wrong. Like your argument is just so 142 00:07:40,960 --> 00:07:45,280 flawed you're getting worked up over something you have no idea 143 00:07:45,280 --> 00:07:48,200 about. And once you recognize that it's 144 00:07:48,200 --> 00:07:52,640 probably cognitive dissonance. It could could help you, you 145 00:07:52,640 --> 00:07:56,040 know, whatever your actual understanding of Bitcoin will 146 00:07:56,040 --> 00:08:00,960 be, or your actual eventual you know judgement about it. 147 00:08:00,960 --> 00:08:05,800 But currently you know your critique is not informed. 148 00:08:05,800 --> 00:08:09,440 You know, it's just. And those people, actually, they 149 00:08:09,440 --> 00:08:14,240 don't bother me anymore. And I I don't, I don't get, I 150 00:08:14,240 --> 00:08:18,400 don't have that feeling of like, oh, I got to help these people. 151 00:08:18,400 --> 00:08:21,240 Bitcoin is helping them. They'll learn in time. 152 00:08:21,440 --> 00:08:24,760 And actually just the existence of Bitcoin and the fact that 153 00:08:24,760 --> 00:08:27,880 people are buying Bitcoin is making the no coiners lives 154 00:08:27,880 --> 00:08:30,440 better. The fact that I don't own any 155 00:08:30,440 --> 00:08:32,480 real estate, like Bitcoin didn't exist. 156 00:08:32,480 --> 00:08:34,960 Like I would be buying rental properties. 157 00:08:34,960 --> 00:08:38,039 I would be levering up that equity to go buy more rental 158 00:08:38,039 --> 00:08:41,880 properties because that's how you accelerated your position 159 00:08:41,880 --> 00:08:47,000 within the old paradigm, the old world, the A, a BB before 160 00:08:47,000 --> 00:08:49,840 Bitcoin and now we're AB after Bitcoin. 161 00:08:50,280 --> 00:08:53,200 And so you know when people are like, oh, you're gonna miss the 162 00:08:53,200 --> 00:08:56,120 boat and like, oh, I'm just trying to save people. 163 00:08:56,160 --> 00:08:58,840 Bitcoin is saving them. Bitcoin is making their lives 164 00:08:58,840 --> 00:09:00,960 better. And Bitcoin is like, in some 165 00:09:00,960 --> 00:09:02,920 sense the one of the greatest teachers. 166 00:09:02,920 --> 00:09:08,680 This protocol, this protocol is teaching us so much about how 167 00:09:08,680 --> 00:09:11,560 the world works through such a clear lens. 168 00:09:13,280 --> 00:09:16,120 Yeah, so I don't get too into it anymore. 169 00:09:16,120 --> 00:09:18,200 I used to really exert a lot of energy. 170 00:09:18,200 --> 00:09:21,720 Like, I've had several ongoing long debates with people about 171 00:09:22,560 --> 00:09:25,280 just all the things that we all kind of talk about when we're 172 00:09:25,280 --> 00:09:26,600 attempting to orange peel people. 173 00:09:27,680 --> 00:09:29,880 And the more and more I've thought about it and the more 174 00:09:29,880 --> 00:09:32,360 and more I've thought about like is the government going to try 175 00:09:32,360 --> 00:09:35,040 to seize the coins? We're going to have a 61O2. 176 00:09:35,040 --> 00:09:37,600 Is like Bitcoin a threat. And the more and more I think 177 00:09:37,600 --> 00:09:41,720 about it and not in some like delusional state. 178 00:09:42,040 --> 00:09:46,800 I've just further developed a thesis that I cannot dispute 179 00:09:47,080 --> 00:09:51,720 that Bitcoin makes everything better for everybody, including 180 00:09:51,720 --> 00:09:55,400 the nation state, including the banking bloodlines, including 181 00:09:55,400 --> 00:09:58,600 the No coiners. And I kind of am like letting go 182 00:09:58,600 --> 00:10:00,400 of this. Like I don't know. 183 00:10:00,400 --> 00:10:01,440 Like I don't. I'm not. 184 00:10:01,440 --> 00:10:03,800 I don't have any fear around it. Like I don't think they're going 185 00:10:03,800 --> 00:10:05,440 to come and try to steal our Bitcoin. 186 00:10:05,440 --> 00:10:07,240 It doesn't make any sense. Like and I have. 187 00:10:07,240 --> 00:10:10,240 I could go on and on and on about all the reasons why I I've 188 00:10:10,720 --> 00:10:15,240 evolved my perspective there. Well, let's do that, because 189 00:10:15,240 --> 00:10:17,680 this was one of the things I wanted to talk about. 190 00:10:18,440 --> 00:10:22,080 So a lot of the things I wrote down is will Bitcoin be banned 191 00:10:22,080 --> 00:10:25,800 or confiscated by government? So let's let's talk about that 192 00:10:26,320 --> 00:10:29,840 you know banning first, adopting it and and then the game T right 193 00:10:29,840 --> 00:10:32,120 there. So just, you know, as short or 194 00:10:32,120 --> 00:10:34,160 long as you want. All right. 195 00:10:34,160 --> 00:10:36,160 Well, First off, it is game theoretic, right. 196 00:10:36,160 --> 00:10:39,240 And on a Mac, I believe that on a macro level, there's actually 197 00:10:39,240 --> 00:10:42,120 more market competition. It's more tumultuous than 198 00:10:42,120 --> 00:10:44,200 tumultuous than it is on a micro level. 199 00:10:44,200 --> 00:10:47,120 On a micro level, if you and I are competing over a business 200 00:10:47,120 --> 00:10:50,160 deal, we're not going to start shooting bombs at each other if 201 00:10:50,160 --> 00:10:54,000 we get disagree. On a macro level, if you have 202 00:10:54,000 --> 00:10:57,000 trade wars, trade wars evolve into real wars. 203 00:10:57,160 --> 00:11:02,160 If if the if the trade war isn't solved right and so fair trade 204 00:11:02,160 --> 00:11:04,280 is something that we want. The rest of the world is 205 00:11:04,280 --> 00:11:06,600 obviously getting sick of the fact that the United States 206 00:11:06,600 --> 00:11:09,040 prints dollars out of thin air and then sends them overseas. 207 00:11:09,080 --> 00:11:11,600 And then these these other countries or marketplaces are 208 00:11:11,600 --> 00:11:14,880 sending us real world goods and services and one of the another 209 00:11:14,880 --> 00:11:17,440 thing that I really liked actually, Michael Saylor said in 210 00:11:17,440 --> 00:11:19,440 Madeira. He goes, he goes, the 211 00:11:19,440 --> 00:11:23,240 government's selling Bitcoin into the open market that was 212 00:11:23,240 --> 00:11:25,320 seized. So the United States government 213 00:11:25,320 --> 00:11:29,400 is very fragmented and they have all these different departments 214 00:11:29,400 --> 00:11:32,160 and they don't interface and and work very well. 215 00:11:32,160 --> 00:11:34,200 It's become this kind of inefficient. 216 00:11:35,320 --> 00:11:37,440 I don't know. There's like this feedback loop 217 00:11:37,440 --> 00:11:39,720 of more regs, more regulators, more fees. 218 00:11:39,720 --> 00:11:42,520 And so it's very fragmented. And so you have some departments 219 00:11:42,520 --> 00:11:44,880 where, hey, you know, there was law enforcement issues and the 220 00:11:44,880 --> 00:11:46,840 government sees these coins and they're selling them into the 221 00:11:46,840 --> 00:11:48,320 open market. And then there's a lot of 222 00:11:48,320 --> 00:11:52,280 dialogue around the ETFs. The ETFs are going to bring in 223 00:11:52,280 --> 00:11:55,840 all these coins. Coinbase is the custodian for 224 00:11:55,840 --> 00:11:57,880 most of them. It's this huge honeypot. 225 00:11:58,400 --> 00:11:59,800 Well, OK, let's think this through. 226 00:12:00,000 --> 00:12:04,720 If the United States government says, hey, 6161 O 3, see, we've 227 00:12:04,720 --> 00:12:07,720 got a new executive bill. We're going to confiscate all 228 00:12:07,720 --> 00:12:10,440 these coins. Well, if they pulled them from 229 00:12:10,440 --> 00:12:14,120 the ETFs and then they say, hey, you're a felon if you don't, 230 00:12:14,120 --> 00:12:17,160 send us your coins. First off, like, I have friends 231 00:12:17,160 --> 00:12:20,080 that legitimately lost the keys to their Bitcoin. 232 00:12:20,520 --> 00:12:22,760 So what are you going to do? Go around and detain these 233 00:12:22,760 --> 00:12:25,760 people and send them to a key extraction camp and just water 234 00:12:25,760 --> 00:12:28,760 board them for perpetuity until they die because they can't even 235 00:12:28,760 --> 00:12:30,720 give you the keys because they legitimately don't have them. 236 00:12:30,720 --> 00:12:33,160 I know somebody who has a lot of Bitcoin that they bought really 237 00:12:33,160 --> 00:12:35,200 early on and they can't find the keys and it's going to bug them 238 00:12:35,200 --> 00:12:37,080 for the rest of their life unless they find the keys. 239 00:12:37,480 --> 00:12:39,000 Wow. So that doesn't make any sense. 240 00:12:39,000 --> 00:12:42,840 That's not energy efficient. But if they did seize the coins, 241 00:12:42,840 --> 00:12:46,080 they say, hey to the 11 ETF's like, look, we got all of these 242 00:12:46,080 --> 00:12:48,080 money issues, you need to give us all the Bitcoin. 243 00:12:48,480 --> 00:12:51,480 Well, unless the government was going to use the Bitcoin as a 244 00:12:51,480 --> 00:12:55,880 reserve to issue more dollars against, then it doesn't have 245 00:12:55,880 --> 00:12:58,320 any value, right? So if you're going to seize the 246 00:12:58,320 --> 00:13:00,560 Bitcoin and you can't spin the Bitcoin, then why are you going 247 00:13:00,560 --> 00:13:02,120 to seize the Bitcoin anyways, right? 248 00:13:02,120 --> 00:13:04,000 And so let's also layer on top of that. 249 00:13:04,000 --> 00:13:06,720 You're talking about the government or the central bank 250 00:13:06,760 --> 00:13:08,360 that? Have a use case you mean? 251 00:13:09,000 --> 00:13:10,480 Yeah. Well, what's the point of it? 252 00:13:10,480 --> 00:13:12,360 You're going to just take it all off the market. 253 00:13:12,600 --> 00:13:15,080 And here's another thing I think most people don't think enough 254 00:13:15,120 --> 00:13:18,440 about, and I think it'll be more of a commonly discussed idea or 255 00:13:18,440 --> 00:13:21,600 notion, is Bitcoin makes Fiat better? 256 00:13:21,600 --> 00:13:24,920 I believe that we're in for B locks. 257 00:13:25,240 --> 00:13:28,320 All of these monetary units are getting lent into existence as 258 00:13:28,320 --> 00:13:31,520 debt against assets, right? So they're printing money into 259 00:13:31,520 --> 00:13:33,000 thin air. If I go to the bank and I say 260 00:13:33,000 --> 00:13:36,960 here's 50,000 US shitty dollars, here's my down payment, I want 261 00:13:36,960 --> 00:13:42,440 to buy this $500,000 house. The 450 grand that that they 262 00:13:42,440 --> 00:13:47,000 lend me for the mortgage gets printed into thin air digitally. 263 00:13:47,000 --> 00:13:50,520 It gets created, it gets created out of thin air at that time. 264 00:13:50,520 --> 00:13:54,040 So, and it's also Jeff Booth's work like he's, you know, 265 00:13:54,040 --> 00:13:57,720 talking about, you know, the we live in a deflationary world, 266 00:13:57,720 --> 00:14:00,720 but the inflationary monetary system requires the dollar 267 00:14:00,720 --> 00:14:03,640 denominated value of everything within the marketplace to go up. 268 00:14:04,000 --> 00:14:08,040 Well, if they have this debt crisis that we all know they do, 269 00:14:08,040 --> 00:14:11,560 it's 11th grade math. Like Greg Foss says, 11th grade 270 00:14:11,560 --> 00:14:12,680 math. We know that they have to 271 00:14:12,680 --> 00:14:16,080 continue to expand the monetary units within the system. 272 00:14:16,080 --> 00:14:18,680 And it's happening at seemingly an exponential rate. 273 00:14:19,360 --> 00:14:23,120 Well, the inflation goes into the marketplace in different 274 00:14:23,120 --> 00:14:26,720 sectors within the marketplace at different rates, right. 275 00:14:27,080 --> 00:14:31,360 And so if they continue to debase and lend that money into 276 00:14:31,360 --> 00:14:35,080 existence as debt against equities in these large mega 277 00:14:35,080 --> 00:14:38,760 corps and then real estate, the large mega corps become more 278 00:14:38,760 --> 00:14:41,200 contilionary mega corps. It's more of a centralizing 279 00:14:41,200 --> 00:14:44,520 force. And then the real estate creates 280 00:14:44,520 --> 00:14:47,240 this feedback loop where the contillionaires continue to go 281 00:14:47,240 --> 00:14:50,320 buy more real estate and the price of housing and rent is 282 00:14:50,320 --> 00:14:52,680 going to go through the roof. Then the government has to step 283 00:14:52,680 --> 00:14:56,400 in and put in rent controls. But if the bond, if the 284 00:14:56,400 --> 00:15:00,160 inflation moves into Bitcoin, that's not hurting anybody. 285 00:15:00,440 --> 00:15:04,600 If Bitcoin goes from 100 grand a coin to 10 million a coin over a 286 00:15:04,600 --> 00:15:08,120 decade because they printed so much money, that doesn't hurt 287 00:15:08,120 --> 00:15:10,720 anybody. But if rent over a five year 288 00:15:10,720 --> 00:15:14,120 period goes up 5X people are going to be fucking homeless. 289 00:15:14,600 --> 00:15:17,200 Landlords are going to go bankrupt because they can't pay 290 00:15:17,200 --> 00:15:20,360 their mortgages because the the states or the the the federal 291 00:15:20,360 --> 00:15:22,080 government's going to put in rent controls. 292 00:15:22,080 --> 00:15:25,160 So the government, the landlord can't raise his rent, but his 293 00:15:25,320 --> 00:15:27,480 cost of operating and his business is going up. 294 00:15:28,280 --> 00:15:31,120 So I believe that what's going to take place is actually 295 00:15:31,120 --> 00:15:33,160 they're going to roll out the orange carpet for us. 296 00:15:33,160 --> 00:15:35,720 They are going to lend against Bitcoin. 297 00:15:35,720 --> 00:15:38,120 Here's another thing actually too why would they seize the 298 00:15:38,120 --> 00:15:41,760 Bitcoin if they can just print like if the government if the 299 00:15:41,760 --> 00:15:43,800 central space? That's the whole point, right? 300 00:15:43,800 --> 00:15:49,520 Then they if that's capitulation basically, right, they give in 301 00:15:49,520 --> 00:15:53,400 to the kicker, of course. If this central bank says, hey, 302 00:15:53,400 --> 00:15:56,760 you know what, we have AB lock available to everybody who has 303 00:15:56,760 --> 00:15:59,720 Bitcoin in the ETF or in self custody. 304 00:15:59,720 --> 00:16:03,240 You need to send the coins to us and we're going to loan you 10 305 00:16:03,240 --> 00:16:06,360 percent, 30% whatever the LTV is, right? 306 00:16:07,560 --> 00:16:13,440 The banks now get possession of the coins and then they mint new 307 00:16:13,440 --> 00:16:17,520 US dollar into existence. And then people who own Bitcoin 308 00:16:17,520 --> 00:16:20,040 can go be cotillionaires in the society. 309 00:16:20,200 --> 00:16:24,760 They can borrow against the ever increasing equity that they have 310 00:16:24,760 --> 00:16:27,960 in the Bitcoin and that fact that they're doing it isn't 311 00:16:27,960 --> 00:16:31,120 contributing to homelessness. The fact that they're spending 312 00:16:31,120 --> 00:16:35,960 more monetary units into the system is it's bolstering up 313 00:16:35,960 --> 00:16:38,880 Fiat, but it's allowing a transition to take place where 314 00:16:38,880 --> 00:16:41,680 the debt is now backed by Bitcoin and not assets, and 315 00:16:41,680 --> 00:16:43,840 that's not hurting anybody. And then Bitcoiners who 316 00:16:43,840 --> 00:16:47,240 typically are going to vote with their dollar for higher quality 317 00:16:47,240 --> 00:16:53,000 things are going to now fund the ethical high value things within 318 00:16:53,000 --> 00:16:56,280 the marketplace. And then the Bitcoin price rips 319 00:16:56,440 --> 00:16:59,600 because the they're debasing against the Bitcoin instead of 320 00:16:59,600 --> 00:17:02,920 housing and. So you say wait wait wait wait. 321 00:17:03,440 --> 00:17:07,960 That's a summary. So you say we basically inflate 322 00:17:07,960 --> 00:17:12,800 Bitcoin to prevent all the other stuff to be inflated. 323 00:17:13,680 --> 00:17:17,160 Yes, and that doesn't hurt anybody, including people who 324 00:17:17,160 --> 00:17:19,800 don't hold any Bitcoin. It doesn't hurt them. 325 00:17:19,800 --> 00:17:22,760 It actually helps them because their rent doesn't go up 5X. 326 00:17:22,800 --> 00:17:26,880 If Bitcoin shreds and rent doesn't and real estate doesn't, 327 00:17:28,319 --> 00:17:31,120 then what's the problem? So this this does align with the 328 00:17:31,160 --> 00:17:36,480 thesis of print more of your infinite money and buy Bitcoin 329 00:17:36,480 --> 00:17:41,800 like to a degree but you. Yeah, but but this is different 330 00:17:41,800 --> 00:17:44,360 version. This is different version right? 331 00:17:44,680 --> 00:17:46,480 So. You say we printing and then 332 00:17:46,480 --> 00:17:49,800 buying the Bitcoin and keeping the Bitcoin they're printing and 333 00:17:49,800 --> 00:17:53,080 they're giving those monetary units to bitcoiners within the 334 00:17:53,080 --> 00:17:56,840 free market who get to then use. For example, let's say you have 335 00:17:56,840 --> 00:18:01,120 a handful of coins and Bitcoin hits A1M, right? 336 00:18:01,120 --> 00:18:03,760 Like so. Samson Mao was right. 337 00:18:04,120 --> 00:18:07,520 That's. 1.00 M. Yeah, yeah. 338 00:18:07,760 --> 00:18:10,160 Well, no, let's just say it's it's one M per coin. 339 00:18:10,160 --> 00:18:12,640 It's 18 months from now and let's say you have 5 coins. 340 00:18:13,240 --> 00:18:16,800 So if you give one coin to JP Morgan Chase and Jamie Diamond. 341 00:18:16,800 --> 00:18:20,200 Diamond, I promise you knows how to pronounce Satoshi's name. 342 00:18:20,200 --> 00:18:22,920 And I promise you he's read the white paper a million fucking 343 00:18:22,920 --> 00:18:25,440 times. The CEO of JP Morgan Chase. 344 00:18:26,080 --> 00:18:29,720 So 18 months from now, you got $1,000,000 coin. 345 00:18:29,720 --> 00:18:32,280 Let's say you own a couple of them, one of them, even. 346 00:18:32,280 --> 00:18:36,400 Whatever you give that coin to JP Morgan Chase, you send them 347 00:18:36,400 --> 00:18:38,880 the coin. And then now you get to borrow 348 00:18:38,880 --> 00:18:42,280 20% LTV. You get to borrow $200,000 349 00:18:42,280 --> 00:18:44,960 against that coin. If that coin is appreciating 350 00:18:44,960 --> 00:18:50,560 that 20% a year annually, you accrue $200,000 in equity every 351 00:18:50,560 --> 00:18:53,440 year and you can borrow a percentage of that newfound 352 00:18:53,440 --> 00:18:56,240 $200,000 in equity. And you could go spend that 353 00:18:56,240 --> 00:19:00,000 money into the marketplace. Being a bitcoiner, typically we 354 00:19:00,000 --> 00:19:03,160 have a much longer time preference, a time horizon. 355 00:19:03,160 --> 00:19:06,000 We think more long term we want to buy things that are more 356 00:19:06,000 --> 00:19:07,880 quality. We're not typically buying the 357 00:19:07,880 --> 00:19:10,680 cheap shitty widget made in China. 358 00:19:10,680 --> 00:19:15,080 We're typically not buying beef that's grazed in what used to be 359 00:19:15,080 --> 00:19:19,720 old rainforest that's been cut down and by cows fed glyphosate 360 00:19:19,720 --> 00:19:24,480 laden roundup laden corn, right. We're buying local grass fed 361 00:19:24,480 --> 00:19:27,400 beef, we're buying all this nice stuff, so that's good for the 362 00:19:27,400 --> 00:19:29,400 marketplace. If we're voting for the dollars 363 00:19:29,400 --> 00:19:31,600 and we're borrowing against the Bitcoin, it creates a new 364 00:19:31,600 --> 00:19:33,840 contillionaire class. But here's the real kicker. 365 00:19:34,440 --> 00:19:38,040 JP Morgan Chase now has possession of your coin and 366 00:19:38,040 --> 00:19:41,320 unless you pay back that 200 grand that you borrowed against 367 00:19:41,320 --> 00:19:44,360 the $1 million Bitcoin, they hold the coin. 368 00:19:45,000 --> 00:19:48,560 And so in some sense like that gives you them the ability, I 369 00:19:48,560 --> 00:19:51,400 mean literally gives them the ability to get possession of 370 00:19:51,400 --> 00:19:54,400 coins. And it also gives freedom within 371 00:19:54,400 --> 00:19:58,600 the existing system to people who have coins and the fact that 372 00:19:58,600 --> 00:20:01,120 that the basement is taking place and the debt is getting 373 00:20:01,120 --> 00:20:03,720 lent against Bitcoin, which is. Invisible. 374 00:20:03,720 --> 00:20:05,560 I've referred to it as metaphysical. 375 00:20:05,560 --> 00:20:07,760 It's property, it's matter and cyberspace. 376 00:20:07,760 --> 00:20:10,240 It's like the merging of the physical and the metaphysical 377 00:20:10,240 --> 00:20:10,960 world. It's been. 378 00:20:11,040 --> 00:20:15,360 It's this invisible substance that is finite. 379 00:20:15,720 --> 00:20:19,440 And if you debase against that, the fact that people are 380 00:20:19,440 --> 00:20:24,360 hoarding it and you're debasing against it isn't hurting people 381 00:20:24,360 --> 00:20:27,320 within the physical world. And it's like, once again, I 382 00:20:27,320 --> 00:20:30,200 love so much of Jeff Booth's Booth's work, where you have 383 00:20:30,200 --> 00:20:32,640 abundance and money, you create scarcity and everything else. 384 00:20:32,840 --> 00:20:36,880 People short the money and they go long cars and houses and 385 00:20:36,920 --> 00:20:39,800 whatever, right? Look at Venezuela or Zimbabwe. 386 00:20:39,800 --> 00:20:42,240 I was watching a documentary last night, dude. 387 00:20:42,400 --> 00:20:46,520 People were literally, they're changing their wages by the end 388 00:20:46,520 --> 00:20:49,560 of the day. You don't even put prices on 389 00:20:49,560 --> 00:20:53,160 menus because by the end of the day the price has changed, 390 00:20:53,160 --> 00:20:55,040 right. And so it means that you got to, 391 00:20:55,200 --> 00:20:58,840 you got to have anything that holds the value better than the 392 00:20:58,840 --> 00:21:01,360 money or where you have scarcity and money, you create abundance 393 00:21:01,360 --> 00:21:04,000 and everything else. I'd rather have Bitcoin than 394 00:21:04,000 --> 00:21:05,920 anything else within the marketplace. 395 00:21:06,440 --> 00:21:10,280 And if I wanted to, I don't know. 396 00:21:10,560 --> 00:21:13,680 Let's also let's get real. Like most people are tired, the 397 00:21:13,680 --> 00:21:16,000 road to serfdom is working exponentially harder for a 398 00:21:16,000 --> 00:21:17,880 currency growing exponentially weaker. 399 00:21:17,880 --> 00:21:20,200 You know how many people would be like yo, I'll give up a 400 00:21:20,200 --> 00:21:23,680 fraction of my Bitcoin to borrow a little bit of shitty USD, so I 401 00:21:23,680 --> 00:21:27,320 can go into the marketplace and buy what I need and get to relax 402 00:21:27,320 --> 00:21:29,480 a little bit. And so then the central banks 403 00:21:29,480 --> 00:21:32,680 get the coins, and then they can lend against the coins. 404 00:21:32,680 --> 00:21:36,320 They can fractionally reserve, you know, against coins that 405 00:21:36,320 --> 00:21:39,560 it's bringing solvency back into an insolvent system. 406 00:21:40,200 --> 00:21:44,040 It changes the incentives, with the account changes, accounting 407 00:21:44,040 --> 00:21:46,160 practices changing at the end of the year. 408 00:21:46,400 --> 00:21:50,240 Nestle, as an example, is going to stack sacks instead of go 409 00:21:50,240 --> 00:21:53,680 drill a well in some area where people are starving and thirsty 410 00:21:53,680 --> 00:21:56,240 and broke and sell the water back to them. 411 00:21:56,560 --> 00:21:59,360 We live in a world of you want to exert the least amount of 412 00:21:59,360 --> 00:22:00,960 energy to get the most in return. 413 00:22:01,680 --> 00:22:05,200 And the reason that people behave, the corporations behave 414 00:22:05,200 --> 00:22:07,840 the way that they would do, the reason BlackRock has the 415 00:22:07,840 --> 00:22:11,120 financial strategy that it has is just because of the Fiat 416 00:22:11,120 --> 00:22:15,160 system, not because BlackRock is full of some sociopath. 417 00:22:15,160 --> 00:22:17,880 Maybe they are, I don't know. But it's not because these guys 418 00:22:17,880 --> 00:22:21,000 are scumbags per SE who get their jollies off on plunder. 419 00:22:21,120 --> 00:22:23,160 It's because it's just how you got the most. 420 00:22:23,480 --> 00:22:26,360 Like we all have a friend who's got an uncle who owns 30 421 00:22:26,360 --> 00:22:28,640 rentals. When you sit down with them at 422 00:22:28,640 --> 00:22:31,520 the BBQ, do you sit there and tell him he's a shit bag because 423 00:22:31,520 --> 00:22:33,200 he's contributing to homelessness? 424 00:22:33,560 --> 00:22:36,560 No, but we all shit on Larry Fink because they buying up all 425 00:22:36,560 --> 00:22:39,720 the single family homes. Oh I you know I get that it's 426 00:22:39,720 --> 00:22:41,680 unethical. Second and third order effects 427 00:22:41,680 --> 00:22:46,200 aren't that aren't good. But now to acquire the most, it 428 00:22:46,200 --> 00:22:49,040 also it's the least energy to exert as well. 429 00:22:49,040 --> 00:22:53,360 It's like you just stack the SAS and so yeah, it's better for 430 00:22:53,360 --> 00:22:55,840 BlackRock if you and I have coins in self custody. 431 00:22:55,840 --> 00:22:58,800 It's better for the United States government if I have 432 00:22:58,800 --> 00:23:01,240 coins and self. It's better for the EU if you 433 00:23:01,240 --> 00:23:05,000 have Bitcoin in self custody and I think that people are figuring 434 00:23:05,000 --> 00:23:07,520 this out at hyper rate. It's just the vortex of 435 00:23:07,520 --> 00:23:11,600 incentives that the banks, the central banking bloodlines, they 436 00:23:11,600 --> 00:23:15,480 can acquire coins because they currently control the financial 437 00:23:15,480 --> 00:23:19,320 system and why would they try to confiscate the coins when they 438 00:23:19,320 --> 00:23:23,360 could just lend Fiat against it and they would get a decent 439 00:23:23,360 --> 00:23:26,360 percentage of it. And I do also have experience 440 00:23:26,360 --> 00:23:29,200 with regulators trying to come in and regulate an existing 441 00:23:29,200 --> 00:23:32,760 multi billion dollar industry with cannabis. 442 00:23:33,160 --> 00:23:35,320 And so I kind of think it's laughable listening to some of 443 00:23:35,320 --> 00:23:38,320 the narrative with the United States government trying to come 444 00:23:38,320 --> 00:23:41,720 in with these ridiculous rules with Bitcoin. 445 00:23:41,720 --> 00:23:43,680 They're it's not going to work. They're going to go back to the 446 00:23:43,680 --> 00:23:45,600 drawing board and they're going to come back with favorable 447 00:23:45,600 --> 00:23:49,120 rules. Like, rationally I I agree. 448 00:23:52,280 --> 00:23:56,840 But I do wonder like this this problem is so big and the system 449 00:23:56,840 --> 00:23:59,880 is so fragile. Like, definitely not sound 450 00:23:59,960 --> 00:24:02,960 resilient. Oh, I love, I love those words. 451 00:24:04,120 --> 00:24:09,440 So I could also imagine that the narrative for the opposite of 452 00:24:09,440 --> 00:24:15,880 what you are saying, you know, this is obviously such a threat 453 00:24:15,920 --> 00:24:19,640 to this already fragile system, so we should outright ban it. 454 00:24:19,640 --> 00:24:22,400 Like, I don't think that's a good choice. 455 00:24:22,400 --> 00:24:29,840 But I like, at one point it's going to become clear for 456 00:24:29,840 --> 00:24:33,560 hopefully everyone who can do something about it, like inside 457 00:24:33,560 --> 00:24:37,880 of the government that did it, this this is really like a 458 00:24:37,880 --> 00:24:41,000 braking system, right? It's not I don't right. 459 00:24:41,160 --> 00:24:43,840 Bitcoin's a solution? I understand, I understand. 460 00:24:43,840 --> 00:24:47,440 But I mean more just to draft. Just to steal man thesis. 461 00:24:47,440 --> 00:24:50,480 Yeah, just to draft the resolution and say like, OK, 462 00:24:50,480 --> 00:24:55,480 like if everyone is going to, you know, switch their USD for 463 00:24:55,480 --> 00:24:59,560 Bitcoin, then we have a problem. And you already see that a bit, 464 00:24:59,560 --> 00:25:01,640 of course, right? Like they're closing the doors 465 00:25:01,640 --> 00:25:04,640 in different countries. Actually, you know certain banks 466 00:25:04,640 --> 00:25:10,040 don't allow you to buy stuff on Coinbase for example. 467 00:25:10,040 --> 00:25:13,280 You cannot even take money in most countries out of your 468 00:25:13,280 --> 00:25:17,400 retirement account just because it's not there, right? 469 00:25:18,800 --> 00:25:24,600 And so like, although I agree with you, I do wonder like if if 470 00:25:24,600 --> 00:25:28,000 someone like let's say Elizabeth Warren with her, well, I hope 471 00:25:28,000 --> 00:25:30,360 she gets replaced. But anyway, you know, with a 472 00:25:30,360 --> 00:25:36,160 shitty resolution, get some sponsors that that she can get 473 00:25:36,160 --> 00:25:38,640 that through. Like it it, it, it would be a 474 00:25:38,640 --> 00:25:40,840 dumb decision, but it wouldn't surprise me, right? 475 00:25:40,840 --> 00:25:44,480 Because not not everyone, even in a government actually 476 00:25:44,480 --> 00:25:48,640 understands, you know, that the field system, especially in 477 00:25:48,640 --> 00:25:50,400 America, I think we all look to America. 478 00:25:50,400 --> 00:25:53,840 So we take that as an example because it's the best currency. 479 00:25:53,840 --> 00:25:59,240 But this is the shape that it's in, you know, so if America, if 480 00:25:59,240 --> 00:26:02,520 America's field system falls, then the rest will follow 481 00:26:02,720 --> 00:26:05,560 anyway. So it's more like, OK, I love 482 00:26:05,560 --> 00:26:10,600 the rational thought, but I wonder, I wonder if relevant 483 00:26:10,600 --> 00:26:13,800 people realize that in time, you know, and then I do agree it 484 00:26:13,800 --> 00:26:19,880 could be a life boat basically to keep the Fiat system from 485 00:26:19,880 --> 00:26:23,080 actually breaking down. And then you kind of like buy 486 00:26:23,080 --> 00:26:29,080 time without hyper inflating actual things that actual people 487 00:26:29,080 --> 00:26:33,320 use, like the foods, you know, because obviously that will lead 488 00:26:33,320 --> 00:26:38,440 to civil unrest and you know, even worse outcomes, right. 489 00:26:38,440 --> 00:26:43,160 So yeah, and I love that Bitcoin is so ironical in a sense, 490 00:26:43,160 --> 00:26:46,400 right? That it it if this plays out 491 00:26:46,400 --> 00:26:49,320 like you say and it would be a lifeboat for a Fiat government 492 00:26:49,320 --> 00:26:52,640 and that is like pure poetry. That is just amazing. 493 00:26:52,640 --> 00:26:55,160 Yeah, I think there's going to be a lot of fun and distraction, 494 00:26:55,160 --> 00:26:57,080 though, and I do think that they're going to try to keep 495 00:26:57,080 --> 00:26:59,480 people out of it. And I, you know what comes to 496 00:26:59,480 --> 00:27:01,240 mind when you say, hey, you know, like, yeah, they're 497 00:27:01,240 --> 00:27:03,520 preventing people from moving all their money out of their 498 00:27:03,520 --> 00:27:06,480 retirement accounts and into Bitcoin, and some jurisdictions 499 00:27:06,480 --> 00:27:09,040 are preventing people, some banks are preventing you from 500 00:27:09,040 --> 00:27:13,800 buying on Coinbase and so on. That makes logical sense to me. 501 00:27:15,120 --> 00:27:19,560 But that means to me that these people who have that benefit and 502 00:27:19,560 --> 00:27:22,600 have control over the current system, if you will. 503 00:27:24,280 --> 00:27:26,400 Yeah, they want to slow that down and they want to get a 504 00:27:26,400 --> 00:27:28,280 position, but like, let's all get real. 505 00:27:28,280 --> 00:27:32,200 This is like a this is a game of musical chairs, or everybody's 506 00:27:32,200 --> 00:27:36,760 rushing into this new system and it is a survival of the fittest 507 00:27:36,760 --> 00:27:39,360 Darwinian type thing that is taking place. 508 00:27:39,720 --> 00:27:45,960 But it's still making things better for people who are in the 509 00:27:45,960 --> 00:27:48,280 Fiat world and stuck in the Fiat world. 510 00:27:48,560 --> 00:27:51,720 Is it not fair? And that that they can't just 511 00:27:51,720 --> 00:27:54,600 easily sell down their retirement account and put all 512 00:27:54,600 --> 00:27:55,920 their money into Bitcoin, of course. 513 00:27:55,920 --> 00:27:58,160 Sure. That's definitely, like, not 514 00:27:58,160 --> 00:28:01,000 fair. But Bitcoin is slowly bringing 515 00:28:01,000 --> 00:28:01,800 truth. It's slow. 516 00:28:01,840 --> 00:28:03,720 I actually, I would say it's happening quite fast. 517 00:28:03,720 --> 00:28:05,960 It's bringing truth, It's bringing fairness. 518 00:28:05,960 --> 00:28:10,800 It's bringing solvency into an insolvent unfair system full of 519 00:28:10,800 --> 00:28:14,680 lies and so it is making it better every day and for 520 00:28:14,680 --> 00:28:17,600 everybody. No coiners and coiners. 521 00:28:17,600 --> 00:28:24,600 And so I just think that over time the OR the end destination 522 00:28:24,600 --> 00:28:28,840 is not a 61O2. It's not camps eating bugs. 523 00:28:29,040 --> 00:28:33,160 But I also believe that we are being there is a mass IOP taking 524 00:28:33,160 --> 00:28:35,640 place. This is, this is my conspiracy 525 00:28:35,640 --> 00:28:37,360 belief. You could say if I was the 526 00:28:37,360 --> 00:28:41,800 United States government, or if I was a banking bloodline, or if 527 00:28:41,800 --> 00:28:45,680 I'm the Federal Reserve personified, what would I do? 528 00:28:45,760 --> 00:28:50,560 I'd tell Gary G to shut his fucking mouth and not tell the 529 00:28:50,560 --> 00:28:54,040 world that he's going to sue every unregistered security that 530 00:28:54,040 --> 00:28:56,680 exists. And I would let the plebs get 531 00:28:56,680 --> 00:29:00,920 wrecked buying dog coins in Solana and Ethereum and whatever 532 00:29:00,920 --> 00:29:05,760 other garbage, right? It's the only way to dilute 533 00:29:05,760 --> 00:29:07,840 Bitcoin. And then me. 534 00:29:07,840 --> 00:29:12,680 In the meantime, I let all my trust and all my institutions 535 00:29:12,680 --> 00:29:16,680 and the ETFs and then the big large corporations stack like a 536 00:29:16,680 --> 00:29:19,680 motherfucker. And then once again I this ties 537 00:29:19,680 --> 00:29:22,760 into, like, Samson Mao's Omega Candle thesis. 538 00:29:22,760 --> 00:29:24,800 I think he's right. Like, I don't talk about the 539 00:29:24,800 --> 00:29:26,800 price of my videos. Really, I don't. 540 00:29:26,800 --> 00:29:28,960 I think it's maybe the most, it's the most important but kind 541 00:29:28,960 --> 00:29:30,920 of the least fascinating thing about Bitcoin. 542 00:29:31,480 --> 00:29:35,640 It goes in line with the it's the the worst way the best thing 543 00:29:35,640 --> 00:29:38,440 could happen, right? And instead of Bitcoin 544 00:29:38,440 --> 00:29:44,800 liberating 5 billion people from poverty over a 20 year period, I 545 00:29:44,800 --> 00:29:47,120 think that the price is going to blast through the roof. 546 00:29:47,360 --> 00:29:50,360 A bunch of plebs got wrecked buying dog coins and then the 547 00:29:50,360 --> 00:29:52,720 mainstream media and the government's going to continue 548 00:29:52,720 --> 00:29:54,880 to lie and gaslight everybody and they're going to tell them 549 00:29:54,880 --> 00:29:58,600 when it crashes from 2.5 million to 1.8 million. 550 00:29:58,720 --> 00:30:01,920 It's too volatile for you plebs. You don't want to hear this 551 00:30:01,960 --> 00:30:04,440 anyways. In the meantime, all the Ballers 552 00:30:04,440 --> 00:30:08,280 are just stacking hard. And so I do think that we're in 553 00:30:08,280 --> 00:30:11,160 for some really interesting stuff taking place in the 554 00:30:11,160 --> 00:30:13,800 future. But also, and maybe I'm grading 555 00:30:13,800 --> 00:30:20,160 on a curve, maybe the old world, maybe the world BB before 556 00:30:20,160 --> 00:30:25,400 Bitcoin was so bad that I'm looking at how Bitcoin is making 557 00:30:25,400 --> 00:30:28,600 things better and I'm grading and I'm just grading on a curve. 558 00:30:28,600 --> 00:30:30,880 I'm like, you know what, it's still making it better for 559 00:30:30,880 --> 00:30:32,600 everybody. But actually, once again, it's 560 00:30:32,600 --> 00:30:34,000 just it's steps in the right direction. 561 00:30:34,000 --> 00:30:36,800 I think that humanity in our civilization is moving in the 562 00:30:36,800 --> 00:30:40,560 right direction in such an interesting and beautiful way 563 00:30:40,560 --> 00:30:43,360 because of this incentive vortex. 564 00:30:44,000 --> 00:30:46,240 And it's like, you know once again too. 565 00:30:46,240 --> 00:30:51,080 Like Matt Crowder with Bitcoin University. 566 00:30:51,080 --> 00:30:53,280 I love his videos. I watch all his videos, shout 567 00:30:53,280 --> 00:30:55,320 out to Matt Crowder. He did a video the other day 568 00:30:55,320 --> 00:30:57,840 about like is BlackRock and a fork Bitcoin. 569 00:30:58,760 --> 00:31:00,080 Oh funny. Wait, wait. 570 00:31:00,080 --> 00:31:02,840 Wait to add to add to that. This is also one of the things 571 00:31:03,280 --> 00:31:05,120 that I saw and wanted to talk about. 572 00:31:05,120 --> 00:31:09,240 You know, someone said, you know all these financial institutions 573 00:31:09,240 --> 00:31:12,840 that are buying Bitcoin. You know they're going to rogue 574 00:31:12,840 --> 00:31:16,120 us and sell it at a certain point where I think like you're 575 00:31:16,120 --> 00:31:19,640 obviously misinformed because it's the the people who buy the 576 00:31:19,720 --> 00:31:24,320 ETFs, right? Anyway, let's tie it into this 577 00:31:24,320 --> 00:31:25,320 like. Yes, yes. 578 00:31:25,320 --> 00:31:26,480 What are those? Big bad. 579 00:31:26,520 --> 00:31:30,280 Institutions are going to do. So we're talking about a global, 580 00:31:31,080 --> 00:31:36,560 a global protocol. OK, that is significant amount 581 00:31:36,560 --> 00:31:39,880 of the coins are distributed throughout the entire world. 582 00:31:40,200 --> 00:31:43,280 So you can't ban Bitcoin, you can only ban yourself from 583 00:31:43,280 --> 00:31:44,760 Bitcoin. Look at what China did. 584 00:31:44,760 --> 00:31:46,680 China tried to ban all the miners. 585 00:31:47,000 --> 00:31:49,000 Probably a fucking mistake for China. 586 00:31:49,000 --> 00:31:52,880 Honestly we all know that. And so if the government dumped 587 00:31:52,880 --> 00:31:56,000 all their or if the ETF, let's use BlackRock as an example. 588 00:31:56,000 --> 00:32:02,120 If the if BlackRock tries to fork it or dumps all the coins 589 00:32:02,120 --> 00:32:06,200 they got what what is BlackRock alone has 210,000 I believe 590 00:32:06,200 --> 00:32:09,520 someone I was chatting with Latin last night said 4 to 5%. 591 00:32:09,520 --> 00:32:12,480 I could be wrong, but let's just say hypothetically it is 5% of 592 00:32:12,480 --> 00:32:16,560 the coins are held by the 10 ETFs. 10 or 11 I think GBTC. 593 00:32:16,560 --> 00:32:20,640 I think it's now almost 900 K or something ish. 594 00:32:20,640 --> 00:32:22,520 I don't know. I cannot get that so. 595 00:32:22,880 --> 00:32:26,360 It's it's a it's a significance. Just call it 5% for if all of 596 00:32:26,360 --> 00:32:29,080 those bands together and dumped all those coins under the 597 00:32:29,080 --> 00:32:31,680 market. People all over the world, 598 00:32:31,880 --> 00:32:34,360 Michael. Sailors of the world, Flebs like 599 00:32:34,360 --> 00:32:37,400 you and I, we're just going to buy are you kidding me? 600 00:32:37,680 --> 00:32:40,680 And only hurts them. And so that's I believe. 601 00:32:41,160 --> 00:32:46,480 I believe that idea is a silly, silly thought process if you 602 00:32:46,480 --> 00:32:48,640 look at it through this lens. Black Rock. 603 00:32:48,640 --> 00:32:50,640 It's the cognitive dissonance again, right? 604 00:32:50,680 --> 00:32:52,480 Like. Well, let's look at Larry Fink. 605 00:32:53,160 --> 00:32:59,920 Larry Fink is literally the most successful asset manager on 606 00:32:59,920 --> 00:33:02,720 planet Earth. He's and I don't know anything 607 00:33:02,720 --> 00:33:05,720 about this guy other than he's got he's the head of BlackRock, 608 00:33:05,720 --> 00:33:08,280 right? He may be unethical in his ways. 609 00:33:08,280 --> 00:33:10,520 I fucking I don't know. He could hang out with Epstein 610 00:33:10,520 --> 00:33:11,680 in the past. I don't fucking know. 611 00:33:11,680 --> 00:33:14,080 Let's put all that aside. Let's just look at his business. 612 00:33:15,320 --> 00:33:19,040 He is a winner. He is the most successful. 613 00:33:19,040 --> 00:33:21,360 He manages the most successful fund. 614 00:33:22,040 --> 00:33:26,760 Not because he does dumb shit like dump all their Bitcoin to 615 00:33:26,760 --> 00:33:31,040 crash the price, because he does the right thing to make the most 616 00:33:31,040 --> 00:33:35,240 money and so selling all the coins for a bunch of shitty USD, 617 00:33:35,240 --> 00:33:36,760 what's he going to do? Just buy up the rest of the 618 00:33:36,760 --> 00:33:38,600 houses in the country like it doesn't? 619 00:33:38,600 --> 00:33:40,360 It just doesn't make any sense the way to. 620 00:33:40,360 --> 00:33:43,160 Get because they understand. They understand what this is 621 00:33:43,160 --> 00:33:47,000 100%, obviously. For sure, but also I I think 622 00:33:47,000 --> 00:33:48,680 someone asked like what? What are they? 623 00:33:48,720 --> 00:33:54,880 How do they convince their no coiner friends? 624 00:33:54,880 --> 00:33:57,200 Or like, how do they deal with the fact that they're trying? 625 00:33:57,200 --> 00:33:59,840 Someone asked when you you know a question for us in this 626 00:33:59,840 --> 00:34:04,360 conversation. How to reach people outside of 627 00:34:04,440 --> 00:34:07,160 their bubble? Yeah, So I think the reason 628 00:34:07,160 --> 00:34:11,480 people don't understand it is for all of known history, the 629 00:34:11,480 --> 00:34:16,400 path of least resistance. To get the most was plunder was 630 00:34:16,400 --> 00:34:18,920 to lie, cheat and steal and kill right. 631 00:34:18,920 --> 00:34:20,880 It's the game theory. The game theory and the 632 00:34:20,880 --> 00:34:23,120 incentive was tilted to violence. 633 00:34:24,880 --> 00:34:31,679 And so that that means that hard wired into our biology is for us 634 00:34:31,679 --> 00:34:37,280 to not believe and not trust that there's an incorruptible 635 00:34:37,679 --> 00:34:40,560 thing or protocol. And I love one of the things 636 00:34:40,560 --> 00:34:43,320 that Breedlove says, that he's the first person I've heard 637 00:34:43,320 --> 00:34:46,239 speak to this, and this was kind of back in a couple years ago. 638 00:34:46,239 --> 00:34:51,040 And Bitcoin is essentially the discovery of incorruptibility. 639 00:34:51,520 --> 00:34:53,280 It's it is it? It is. 640 00:34:53,440 --> 00:34:56,560 It is hacked human greed for something that's good for 641 00:34:56,560 --> 00:34:58,920 everybody. It aligns what's best for the 642 00:34:58,920 --> 00:35:01,680 individual, for what's best for the collective. 643 00:35:01,680 --> 00:35:04,200 And if you're a sociopath who doesn't give a fuck, who's 644 00:35:04,200 --> 00:35:09,040 willing to glide, cheat still, and kill, you're even more 645 00:35:09,040 --> 00:35:12,440 predisposed to do anything to to get the most. 646 00:35:12,760 --> 00:35:16,200 And now it's buy SATS or mine the coins. 647 00:35:16,800 --> 00:35:19,800 It's not try to attack the network or try to steal the 648 00:35:19,800 --> 00:35:22,320 coins. It's a trillion times easier, I 649 00:35:22,320 --> 00:35:24,680 think, Sailor says. It's total opposite to comply, 650 00:35:24,760 --> 00:35:27,120 yeah. It's a trillion times easier for 651 00:35:27,120 --> 00:35:33,400 my node to deny a false block than it is for a miner to mine a 652 00:35:33,400 --> 00:35:36,680 false block, yes? So to attack the network takes 653 00:35:36,680 --> 00:35:39,160 trillions of times more energy than it is to protect it. 654 00:35:39,160 --> 00:35:40,800 I think that those numbers apply. 655 00:35:40,800 --> 00:35:44,400 It's a trillion times harder to try to steal someone's coins 656 00:35:44,400 --> 00:35:47,920 that are properly custodied. Then it would be to just try to 657 00:35:47,920 --> 00:35:52,520 make a deal with them. Yeah, but I I think this is one 658 00:35:52,520 --> 00:35:57,400 of the biggest things actually people should or could 659 00:35:57,560 --> 00:36:02,800 understand about Bitcoin is the fact that this solves our 660 00:36:02,800 --> 00:36:07,800 inherent corruptibility. That is part of what this 661 00:36:07,800 --> 00:36:12,440 innovation is, right? If we allow ourselves to accept 662 00:36:12,440 --> 00:36:16,600 that, even though when we look from afar to someone right, who 663 00:36:16,600 --> 00:36:20,880 is a corruptible or corrupted person or how, what's her name? 664 00:36:21,120 --> 00:36:26,280 Nancy Pelosi is a better traitor than you know, yeah, fucking 665 00:36:26,400 --> 00:36:31,800 Buffett, right, that everyone would say, like, well, if I 666 00:36:31,800 --> 00:36:35,040 would be in a position like this, I would never do that, 667 00:36:35,360 --> 00:36:37,000 right? I would never do that because I 668 00:36:37,000 --> 00:36:38,920 am a righteous person. Person right. 669 00:36:39,280 --> 00:36:42,760 But what I think we should all accept is that if we would be in 670 00:36:42,760 --> 00:36:47,000 that position and be part of a system that has that is 671 00:36:47,000 --> 00:36:50,880 corrupted and we get the opportunity to be part of 672 00:36:51,320 --> 00:36:55,920 corrupting it, most people would probably do it, even though now 673 00:36:55,920 --> 00:36:58,280 from a distance we would say we would never do it right for 674 00:36:58,320 --> 00:37:01,440 sure. Once you accept that, then you 675 00:37:01,520 --> 00:37:07,400 accept that if we want to create a system for money or exchanging 676 00:37:07,400 --> 00:37:13,320 value, right, it should be an incorruptible system, because if 677 00:37:13,320 --> 00:37:16,800 it has openings to be corrupted, there will be people that will 678 00:37:16,800 --> 00:37:18,880 corrupt it for you. I mean, we're living in it, 679 00:37:19,080 --> 00:37:20,120 right? Totally. 680 00:37:20,160 --> 00:37:25,800 And so, once you agree and actually integrate the fact that 681 00:37:25,800 --> 00:37:29,480 yes, you also are a corruptible person. 682 00:37:30,120 --> 00:37:32,600 Yep. And then when you understand 683 00:37:32,600 --> 00:37:36,960 that Bitcoin is incorruptible, that there is more value in 684 00:37:36,960 --> 00:37:40,120 following the rules than trying to play the rules as you just 685 00:37:40,120 --> 00:37:42,920 mentioned. Significantly, yes, orders of 686 00:37:43,040 --> 00:37:47,720 magnitude. But then your life gets easier 687 00:37:47,720 --> 00:37:51,320 because it frees your mind. But also it is a paradigm shift 688 00:37:51,320 --> 00:37:54,720 because in the system that we now live in, I think you just 689 00:37:54,720 --> 00:37:56,600 mentioned it a moment moments back. 690 00:37:56,600 --> 00:37:58,920 But it's so hard for people to understand because the system we 691 00:37:58,920 --> 00:38:04,360 live in is a 00 sum game system. Like when you when someone else 692 00:38:04,360 --> 00:38:07,840 wins you lose etc. And Bitcoin is not that. 693 00:38:07,840 --> 00:38:10,480 Like Bitcoin is a mutually beneficial system. 694 00:38:10,480 --> 00:38:15,720 If we I tweeted a few few weeks ago, I can remember, but it's 695 00:38:15,720 --> 00:38:21,280 like you. I think it's like you agree to. 696 00:38:21,520 --> 00:38:24,120 I have to look it up. But it's like you know that all 697 00:38:24,120 --> 00:38:27,880 the other users in the system also know that other users in 698 00:38:27,880 --> 00:38:30,040 the system will follow the rules basically right? 699 00:38:30,040 --> 00:38:33,520 Like you comply with the rules because everyone who uses it 700 00:38:33,520 --> 00:38:36,680 also complies with the rules. There is no way to not comply 701 00:38:36,680 --> 00:38:38,920 with the rules and get value out of it. 702 00:38:38,920 --> 00:38:41,160 You can only get value out of it out of it when you. 703 00:38:41,280 --> 00:38:43,320 Hard if you go against. Exactly, yes. 704 00:38:43,360 --> 00:38:46,880 Yeah. So if you would do like a 51% 705 00:38:46,880 --> 00:38:50,880 attack that basically costs like, I don't know, 10s of 706 00:38:50,880 --> 00:38:54,040 billions for 10 minutes, then what do you have? 707 00:38:54,280 --> 00:38:56,280 What? That's this is what Jason Lowry 708 00:38:56,280 --> 00:38:59,200 says, right Leah? Like, you can only get yourself 709 00:38:59,240 --> 00:39:03,160 out of it instead of if you spent, let's say, 10 billion on 710 00:39:03,160 --> 00:39:06,960 buying Bitcoin, you probably get more value than trying to attack 711 00:39:06,960 --> 00:39:08,480 it or break it. So. 712 00:39:09,480 --> 00:39:15,040 There's no there's no valid like business case basically for for 713 00:39:15,040 --> 00:39:19,080 attacking it. It's only and and and also and 714 00:39:19,080 --> 00:39:21,880 then let's move on to the next topic but it's also the action 715 00:39:21,880 --> 00:39:26,880 versus the words right. Use like that is like the part 716 00:39:26,880 --> 00:39:29,520 of the Bitcoin ethos as well like people can talk about it 717 00:39:29,520 --> 00:39:31,080 like oh Bitcoin sucks, blah blah. 718 00:39:31,080 --> 00:39:34,640 But we can now say, well if you are not short Bitcoin, you know 719 00:39:34,880 --> 00:39:38,720 shut up basically, right. And like all the people that as 720 00:39:38,720 --> 00:39:41,320 politicians who talk about banning it or blah blah blah, 721 00:39:41,400 --> 00:39:46,720 well OK, try it. Like like the you only talk 722 00:39:46,720 --> 00:39:49,560 about it without doing it because that is what works in 723 00:39:49,560 --> 00:39:52,120 the Fiat world, right? Yeah, well, it's also 724 00:39:52,120 --> 00:39:54,840 suppressing the prices, keeping a bunch of normies out because 725 00:39:54,840 --> 00:39:56,160 they're scared they don't understand. 726 00:39:56,160 --> 00:39:58,840 Also, yes, but, but that is a Fiat world tactic. 727 00:39:58,840 --> 00:40:01,800 It works in the Fiat world, but in a Bitcoin world, you know, 728 00:40:01,800 --> 00:40:05,600 it's like, OK, well, you cannot stop me from from acquiring it. 729 00:40:06,920 --> 00:40:10,080 Try it, You know, like actually try it. 730 00:40:10,120 --> 00:40:13,560 And then yeah. I think they will see that it 731 00:40:13,560 --> 00:40:18,080 will be way more valuable if they would just follow it and 732 00:40:18,080 --> 00:40:23,600 and that's also in a more global game theory type way tweeted 733 00:40:23,600 --> 00:40:25,720 about this. But I think the first follower 734 00:40:26,120 --> 00:40:30,720 of El Salvador will actually be a bigger winner than El Salvador 735 00:40:31,200 --> 00:40:33,760 right. Because once, let's say Qatar, 736 00:40:33,760 --> 00:40:37,960 Oman or UAE, whatever really comes out with, you know, we're 737 00:40:37,960 --> 00:40:43,160 going to ask for Bitcoin in return for oil, dude. 738 00:40:44,200 --> 00:40:46,560 Like everyone's going to buy and then they probably already have 739 00:40:46,560 --> 00:40:50,640 a stack, right? So yeah, you know, I want to see 740 00:40:50,680 --> 00:40:51,640 that. I want to see that. 741 00:40:52,640 --> 00:40:53,800 Me too. Well, it's coming. 742 00:40:53,840 --> 00:40:55,920 We all, we all know it's coming. It's just a matter of time. 743 00:40:56,680 --> 00:40:58,960 I want to add to that before we switch to the next subject. 744 00:40:58,960 --> 00:41:02,160 Well, two things actually. I popped up on my feed the other 745 00:41:02,160 --> 00:41:05,960 day on Amazon is Jason Lowry's book sophomore. 746 00:41:05,960 --> 00:41:08,640 So I think the software has hit the shelves again. 747 00:41:09,080 --> 00:41:12,720 And so that ties into something. Though Bitcoin is not a threat 748 00:41:12,720 --> 00:41:15,760 to the United States government, it's not a threat to Russia. 749 00:41:15,760 --> 00:41:20,040 It's not a threat to Great Britain or any European 750 00:41:20,040 --> 00:41:21,880 countries, the European Union or anything. 751 00:41:21,880 --> 00:41:25,480 It's a solution. Governments don't want to be 752 00:41:25,480 --> 00:41:29,560 bombed, killed and stolen from just like you and I don't want 753 00:41:29,560 --> 00:41:32,240 to be debased and stolen from. Black Rock doesn't want to be 754 00:41:32,240 --> 00:41:35,040 debased and stolen from. Nobody wants to be debased and 755 00:41:35,040 --> 00:41:37,840 stolen from. This is a monumental solution 756 00:41:37,840 --> 00:41:39,520 for everybody. I think that we have a lot of 757 00:41:39,520 --> 00:41:42,640 distraction there's you could say it's a mass psyop taking 758 00:41:42,640 --> 00:41:47,720 place because there's only one way to slow this down and that's 759 00:41:47,720 --> 00:41:50,440 to create some fun. So. 760 00:41:50,560 --> 00:41:55,480 Anyways, I agree. All right, so the price went 761 00:41:55,480 --> 00:41:56,680 down. What do we do? 762 00:41:58,400 --> 00:41:59,760 Celebrate. Be happy. 763 00:41:59,760 --> 00:42:03,640 Are you kidding me dude? Can you Craigslist an old shitty 764 00:42:03,640 --> 00:42:07,400 iPhone for 50 fucking shitty U.S. dollars and stack a few 765 00:42:07,400 --> 00:42:10,920 stats Like, Jesus yes dude, I love it when it's posted. 766 00:42:10,920 --> 00:42:13,240 It's flying around Twitter over the last like couple of days 767 00:42:13,240 --> 00:42:16,480 Like some of the some of the hard the hardcore maximalists 768 00:42:16,480 --> 00:42:19,760 that are talking shit are just like, hey, is everybody OK? 769 00:42:20,080 --> 00:42:22,120 Are you all right? And I can only imagine the 770 00:42:22,120 --> 00:42:26,440 mainstream narrative like, uh oh, Bitcoin crashed from 74 771 00:42:26,440 --> 00:42:29,560 grand to 66. You don't want any part of this. 772 00:42:29,560 --> 00:42:32,920 This is this is terrible. Everybody go ahead, get out of 773 00:42:32,920 --> 00:42:33,960 it. Bitcoin's dead. 774 00:42:34,320 --> 00:42:36,920 Bitcoin's dead. Dareth is shorting it again. 775 00:42:36,920 --> 00:42:39,520 He's like, yes, I was right. Yeah, I was right. 776 00:42:39,880 --> 00:42:42,160 And more shorts. Gosh, dude. 777 00:42:42,640 --> 00:42:45,000 Wrecked. Oh my goodness dude. 778 00:42:45,600 --> 00:42:50,160 Yeah, it's I I I added this to talk about because as I 779 00:42:50,160 --> 00:42:53,920 mentioned like on LinkedIn I saw this post of like financial 780 00:42:53,920 --> 00:42:56,800 planners. I help you to get to financial 781 00:42:56,800 --> 00:42:59,080 freedom in two hours, blah, blah. 782 00:43:00,120 --> 00:43:02,600 And they were like, yeah, look at this, It's not a store of 783 00:43:02,600 --> 00:43:04,120 value. It's like, how can this be a 784 00:43:04,120 --> 00:43:06,360 real thing? Actually, some guy replied to 785 00:43:06,360 --> 00:43:09,000 me, he said if it's so hard to understand, how can it be 786 00:43:09,000 --> 00:43:11,720 globally adopted? I'm like, bro, what? 787 00:43:12,160 --> 00:43:17,080 Sorry, but it's not. So it's like these people come 788 00:43:17,080 --> 00:43:20,800 out when the price goes down, you know, like when the price 789 00:43:20,800 --> 00:43:23,160 goes up, like all these traditional people say, like, oh 790 00:43:23,160 --> 00:43:25,240 look, it's a Ponzi, It's a pyramid scheme. 791 00:43:25,240 --> 00:43:27,600 It's a Tulip bubble. When it goes down, they're like, 792 00:43:27,800 --> 00:43:30,200 yeah, see told you so. And I think like, but it's yeah, 793 00:43:30,760 --> 00:43:32,960 this is, don't you? Think dictated in that moment. 794 00:43:33,920 --> 00:43:35,840 But don't you think this is such a boring life? 795 00:43:37,480 --> 00:43:38,400 Like what? A boring life? 796 00:43:39,560 --> 00:43:40,400 This. Complaining. 797 00:43:40,400 --> 00:43:40,880 This. This. 798 00:43:40,880 --> 00:43:44,240 This. It's like the CEO. 799 00:43:44,240 --> 00:43:47,200 Did you watch the interview of the CEO of Vanguard before he 800 00:43:47,200 --> 00:43:48,800 announced he's going to be stepping down? 801 00:43:49,320 --> 00:43:52,200 Yeah, I think that was old by the way people tweeted about it, 802 00:43:52,200 --> 00:43:53,720 but it was. Was it old? 803 00:43:54,600 --> 00:43:57,720 Anyway, but yes, how we talked about it, It's just like, dude, 804 00:43:58,080 --> 00:44:01,480 are you using the cash flow argument Seriously? 805 00:44:01,480 --> 00:44:05,440 Are you using stocks? Like Bitcoin is speculative 806 00:44:05,440 --> 00:44:08,200 asset, but stocks are not. Dude, you're speculating on the 807 00:44:08,200 --> 00:44:10,960 fact that Elon wakes up in the morning and it's not dead right? 808 00:44:11,000 --> 00:44:11,880 Tim Cook? Same. 809 00:44:11,880 --> 00:44:13,960 Smoke a blunt on Joe Rogan, dude. 810 00:44:14,200 --> 00:44:15,840 Oh yeah, he can. Well, now blunt you can. 811 00:44:15,840 --> 00:44:18,840 All of a suddenly wrecked. Apparently, yeah, yeah. 812 00:44:19,280 --> 00:44:23,080 Well apparently Elon is on some ketamine therapy or something, 813 00:44:23,600 --> 00:44:31,080 so I I read that today. But the the simplistic assets or 814 00:44:31,080 --> 00:44:36,560 simplistic arguments from someone who leads a 1.7 or 3 815 00:44:36,560 --> 00:44:44,640 trillion whatever asset manager like, I I my ego comes into play 816 00:44:44,640 --> 00:44:47,000 and I think like am I smarter than this dude? 817 00:44:47,000 --> 00:44:49,480 Like probably not. But like well hey, well like 818 00:44:49,480 --> 00:44:52,000 what is going on here? You know he's trying to protect 819 00:44:52,400 --> 00:44:59,160 which I understand, but the the like the the segment or the 820 00:44:59,160 --> 00:45:02,960 public that he's protecting this for by using these arguments. 821 00:45:03,200 --> 00:45:06,320 I wonder how big that is because the Internet is huge and all the 822 00:45:06,320 --> 00:45:10,280 information is free, right. So if someone says, oh, Bitcoin 823 00:45:10,280 --> 00:45:13,800 is bad and you're even remotely interested in what happens with 824 00:45:13,800 --> 00:45:17,960 your money at Vanguard, you will Google, how does Bitcoin work 825 00:45:17,960 --> 00:45:20,680 right. So it's just it's a weird, It's 826 00:45:20,680 --> 00:45:22,880 a weird. Bias, I think. 827 00:45:22,880 --> 00:45:26,080 I think that his success has been predicated upon a strategy 828 00:45:26,080 --> 00:45:30,680 that has worked BB before Bitcoin that works like that's 829 00:45:30,840 --> 00:45:32,840 that's the Warren Buffett playbook. 830 00:45:33,440 --> 00:45:35,760 Yeah, it's the Warren Buffett playbook. 831 00:45:35,760 --> 00:45:38,400 That's cool. Go back to 1960 and then start 832 00:45:38,400 --> 00:45:41,080 running your fund and you're cool until today. 833 00:45:41,080 --> 00:45:43,960 And now the strategy has changed, as in the famous words 834 00:45:43,960 --> 00:45:47,520 of Giga Chad himself, all your models are destroyed. 835 00:45:48,240 --> 00:45:50,800 There is no second best. Yeah. 836 00:45:51,400 --> 00:45:54,760 We're going to see when they also capitulate and start 837 00:45:54,760 --> 00:45:57,440 offering a Bitcoin stuff, all right? 838 00:45:57,560 --> 00:46:00,040 Or they're going to go out of business, dude, come on. 839 00:46:00,600 --> 00:46:02,440 That'll be wild. Yeah. 840 00:46:03,760 --> 00:46:08,560 All right, Why do people stay stuck in clown worlds? 841 00:46:08,560 --> 00:46:11,680 And can how can we help them, if any? 842 00:46:13,240 --> 00:46:15,240 Okay, I got. I got a thought on that one. 843 00:46:15,840 --> 00:46:21,160 So as opposed for me at least, this is just my humble opinion 844 00:46:21,160 --> 00:46:25,160 and my my experience in my life as opposed to spending the 845 00:46:25,160 --> 00:46:29,320 effort because honestly, we live in a world where you're 846 00:46:29,320 --> 00:46:32,480 channeling energy, right? It's energy in, energy out. 847 00:46:32,480 --> 00:46:35,920 And so let's be laser focus, let's be energy efficient, let's 848 00:46:35,920 --> 00:46:39,040 not squander our life force doing things that don't produce 849 00:46:39,040 --> 00:46:41,520 effective yield or change within the world, right. 850 00:46:41,520 --> 00:46:45,960 And so I have found that instead of exerting all the energy to 851 00:46:45,960 --> 00:46:49,000 try to come up with all the great zingers and ideas and 852 00:46:49,000 --> 00:46:53,120 things to explain to somebody why Bitcoin is so fantastic, I 853 00:46:53,120 --> 00:46:55,480 really distill that down to the most basics. 854 00:46:55,680 --> 00:46:59,000 Hey, this is the only thing on planet Earth that is the demand 855 00:46:59,000 --> 00:47:02,520 goes up, the supply doesn't change chat, and it's a money 856 00:47:02,520 --> 00:47:05,280 which has infinite demand because money is a call option 857 00:47:05,280 --> 00:47:07,960 on any other good or service that the marketplace produces. 858 00:47:07,960 --> 00:47:10,960 So everybody on planet Earth wants whatever the agreed upon 859 00:47:10,960 --> 00:47:15,240 money is within the marketplace. And so this thing is basically 860 00:47:15,520 --> 00:47:18,600 pairing infinite demand with true scarcity. 861 00:47:18,720 --> 00:47:21,200 That and it's metaphysical or it's invisible or it's in 862 00:47:21,200 --> 00:47:23,160 cyberspace. It solves the double spin 863 00:47:23,160 --> 00:47:26,240 problem so nobody can kill you and steal it and that's a big 864 00:47:26,240 --> 00:47:28,480 deal. And so you could think about 865 00:47:28,480 --> 00:47:32,080 that or not. But also then I just lead by 866 00:47:32,080 --> 00:47:35,440 example. Like this thing is making my 867 00:47:35,440 --> 00:47:40,080 life so much better if you if you and and it's just just by 868 00:47:40,080 --> 00:47:44,560 being optimistic and positive and like I don't ever tell 869 00:47:44,560 --> 00:47:47,960 someone have fun staying poor because that's a big royal turn 870 00:47:47,960 --> 00:47:50,200 off. I don't get into debates over 871 00:47:50,200 --> 00:47:53,840 the Democrats versus the Republicans and the fucking, the 872 00:47:54,280 --> 00:47:57,560 the transgenders versus the you know, heterosexual. 873 00:47:57,560 --> 00:47:58,880 I don't get into any of that stuff. 874 00:47:58,880 --> 00:48:01,440 It's just all crazy clown world. And once again let's look at 875 00:48:01,440 --> 00:48:04,480 what Jeff Booth does. This guy is pure motherfucking 876 00:48:04,480 --> 00:48:05,320 bliss. Dude. 877 00:48:05,320 --> 00:48:08,360 I love Jeff Booth. His energy is so inspiring and 878 00:48:08,920 --> 00:48:11,720 he just, he says anything that you do to yell at the old world 879 00:48:12,000 --> 00:48:18,240 just strengthens it. Energy goes where it energy 880 00:48:18,240 --> 00:48:20,640 flows, where attention goes, gosh, I can never, I don't know 881 00:48:20,640 --> 00:48:22,680 why I can't ever say that. I say it all the time too. 882 00:48:23,320 --> 00:48:27,080 So you're just channeling energy into the clown world if you yell 883 00:48:27,080 --> 00:48:28,600 at it. And like, if you're trying to 884 00:48:28,600 --> 00:48:32,320 inspire people, family members, friends, loved ones, whatever. 885 00:48:32,320 --> 00:48:33,920 First off, let's just think about this. 886 00:48:34,680 --> 00:48:38,520 They're not missing out, they're just missing out to buy it at 887 00:48:38,520 --> 00:48:41,040 this price. They're missing out on 100 XA 888 00:48:41,080 --> 00:48:44,280 thousand X whatever. But as long as Bitcoin exists, 889 00:48:44,640 --> 00:48:47,200 it's going to appreciate at a faster rate on average than 890 00:48:47,200 --> 00:48:49,920 everything else, probabilistically speaking, 891 00:48:49,920 --> 00:48:54,720 within the marketplace. So it's always forever the 892 00:48:54,720 --> 00:48:57,400 monetary investment. There is no second best. 893 00:48:57,400 --> 00:48:58,840 You buy it forever. It doesn't matter. 894 00:48:58,840 --> 00:49:00,320 The price. You go to the marketplace, you 895 00:49:00,320 --> 00:49:02,040 earn a surplus, you sweep it into Bitcoin. 896 00:49:02,320 --> 00:49:04,760 The sooner people do that, the better off they are. 897 00:49:04,960 --> 00:49:08,800 However, and this is where it is kind of Darwinian, if you're 898 00:49:08,800 --> 00:49:11,720 hubris because you're a concilionaire who has a multi 899 00:49:11,720 --> 00:49:15,920 $1,000,000 stock portfolio and you have 13 properties and you 900 00:49:15,920 --> 00:49:18,880 got a net worth of $8 million and you think this is too good 901 00:49:18,880 --> 00:49:21,800 to be true, you get turned on. When you hear the CEO of 902 00:49:21,800 --> 00:49:25,560 Vanguard validate your broken thesis and you continue to move 903 00:49:25,560 --> 00:49:28,520 forward in your life, you're going to feel the economic pain. 904 00:49:28,840 --> 00:49:31,400 But that person is also not going to go live on the streets, 905 00:49:31,560 --> 00:49:32,880 right? Like they'll be OK. 906 00:49:33,040 --> 00:49:35,640 Their net worth is going to go down relative to the net worth 907 00:49:35,640 --> 00:49:38,760 of bitcoiners. But also the no coiners who are 908 00:49:38,760 --> 00:49:41,840 working 9:00 to 5:00 jobs that they're struggling with, and 909 00:49:41,840 --> 00:49:44,400 they're having their life is getting perpetually harder, 910 00:49:45,080 --> 00:49:48,400 denominated in dollars, measured through the lens of the old 911 00:49:48,400 --> 00:49:50,720 system, measured within the old system. 912 00:49:50,920 --> 00:49:54,680 Their lives are getting better in the old system as the result 913 00:49:54,680 --> 00:49:56,360 of the existence of the new system. 914 00:49:56,960 --> 00:50:00,800 Because as an example, I sold my house my 10. 915 00:50:00,840 --> 00:50:03,880 I had 10 acres with a house and I had 7 acres raw. 916 00:50:03,880 --> 00:50:06,240 Then it ended up having multiple greenhouses on it. 917 00:50:06,240 --> 00:50:09,440 It was a licensed cannabis farm when I sold my properties at the 918 00:50:09,440 --> 00:50:12,520 end of 2018. After owning these two parcels 919 00:50:12,520 --> 00:50:17,200 for two years, I have now put all of my money into Bitcoin. 920 00:50:17,440 --> 00:50:20,240 I don't own a rental property. I don't even own the house that 921 00:50:20,240 --> 00:50:23,440 I live in. I rent it that infinitesimally 922 00:50:23,440 --> 00:50:27,040 is downward price pressure on housing, making housing more 923 00:50:27,040 --> 00:50:30,680 affordable in a very almost borderline and measurable way. 924 00:50:30,680 --> 00:50:34,440 But it is downward price pressure on houses, so people's 925 00:50:34,440 --> 00:50:36,960 lives are getting better. So I lead by example. 926 00:50:37,120 --> 00:50:39,720 I try to be cheerful and constructive. 927 00:50:39,920 --> 00:50:42,120 Let's look at Sailors 10 rules for life. 928 00:50:42,400 --> 00:50:45,760 Be laser focused. Don't dilute your energy. 929 00:50:45,880 --> 00:50:49,080 Be cheerful and constructive and so I don't get all worked up and 930 00:50:49,080 --> 00:50:52,080 angry and tell people, hey you fucking moron, have fun staying 931 00:50:52,080 --> 00:50:53,960 poor. I don't yell at the clown world. 932 00:50:53,960 --> 00:50:58,520 I defund it with my focus, my energy and my monetary units. 933 00:50:58,640 --> 00:51:01,640 I put them into Bitcoin. And then what happens too is, is 934 00:51:01,640 --> 00:51:06,480 that your credibility increases overtime as bitcoins value goes 935 00:51:06,480 --> 00:51:08,200 up. So you'll find that when 936 00:51:08,200 --> 00:51:10,480 bitcoins 10 grand and you're telling people, hey, I'm buying 937 00:51:10,480 --> 00:51:11,840 Bitcoin, you should think about it. 938 00:51:11,840 --> 00:51:14,040 And they're like, Nah, it's OK. I'm not interested. 939 00:51:14,040 --> 00:51:16,200 It's a Ponzi scheme. Well, then when it's 100 grand, 940 00:51:16,200 --> 00:51:17,960 they're a little more open to what you're saying. 941 00:51:17,960 --> 00:51:19,600 And then it's going to be a fucking $1,000,000. 942 00:51:19,600 --> 00:51:22,040 They're going to be like, Dang, this guy was right, or they're 943 00:51:22,040 --> 00:51:24,880 just going to live their whole life in cognitive dissonance and 944 00:51:24,880 --> 00:51:27,440 disbelief. But there's but their lives are 945 00:51:27,440 --> 00:51:30,160 still getting better as a result of the fact that people who do 946 00:51:30,160 --> 00:51:34,760 understand are stacking sads. And so, yeah, I just, you know, 947 00:51:34,800 --> 00:51:38,480 cheerful and constructive, lead by example, figure out how to 948 00:51:38,480 --> 00:51:41,800 distill your sales pitch down to the most fundamental, most 949 00:51:41,800 --> 00:51:45,600 important first principles. Things describe the forces we 950 00:51:45,600 --> 00:51:49,160 live in a deflationary world. Supply is always meeting demand 951 00:51:49,280 --> 00:51:52,920 as we make things more abundant with the aid of technology. 952 00:51:53,120 --> 00:51:56,960 And in the inventant. Invention of a net is 953 00:51:56,960 --> 00:52:00,200 technological advancement over the guy who was fishing with a 954 00:52:00,200 --> 00:52:03,560 spear or a pole. So you'll never stifle people's 955 00:52:03,560 --> 00:52:07,600 desire to enhance technologic, technological advancement within 956 00:52:07,600 --> 00:52:10,560 our society. As we make things more abundant, 957 00:52:10,680 --> 00:52:14,280 we're driving prices down. The larger the margin, the 958 00:52:14,280 --> 00:52:16,920 larger the economic incentive. Typically the bigger the 959 00:52:16,920 --> 00:52:20,080 problem, the more entrepreneurs and capital flow into that 960 00:52:20,080 --> 00:52:22,680 sector. They up the supply relative to 961 00:52:22,680 --> 00:52:27,240 the demand associating that demand driving its price down. 962 00:52:27,440 --> 00:52:31,680 And you can't benefit from those deflationary forces unless you 963 00:52:31,680 --> 00:52:34,240 have a fixed unit. If you have an inflationary 964 00:52:34,240 --> 00:52:37,040 monetary system, you have a moving target. 965 00:52:37,040 --> 00:52:38,880 What you want is going further away. 966 00:52:39,000 --> 00:52:41,560 Another thing I tell people too is like, yo, this house that you 967 00:52:41,560 --> 00:52:44,080 used to want what you want, this house, it's a million. 968 00:52:44,080 --> 00:52:46,880 Two, it's a million one, it's 600 grand, 500 grand, whatever 969 00:52:46,880 --> 00:52:49,800 the price is. Yeah, you realize that like 3-4 970 00:52:49,800 --> 00:52:54,360 five years ago that that house was 100 Bitcoin, 120 Bitcoin, 65 971 00:52:54,360 --> 00:52:57,360 Bitcoin. Well, right now it's 15, it's 972 00:52:57,520 --> 00:53:00,920 20, it's whatever. So measure the value of the 973 00:53:00,920 --> 00:53:04,760 things that you want in Bitcoin and just lead by example. 974 00:53:05,440 --> 00:53:08,240 You know, nobody wants to be talk shit to, nobody wants to be 975 00:53:08,240 --> 00:53:11,120 berated, nobody wants to be told they're dumb, nobody wants to be 976 00:53:11,120 --> 00:53:14,320 told to have fun staying poor, that just puts up fucking 977 00:53:14,320 --> 00:53:18,760 cognitive walls and blinders and just it further strengthens the 978 00:53:18,920 --> 00:53:22,040 the divide, the divide and conquer strategy. 979 00:53:22,120 --> 00:53:24,920 That's what the sociopathic overlords that they want. 980 00:53:24,920 --> 00:53:26,520 They want us out of each other's necks. 981 00:53:26,640 --> 00:53:30,360 Another thing I heard sailors say, you know the way to win a 982 00:53:30,360 --> 00:53:33,840 war is is to make other people die for their 'cause. 983 00:53:34,120 --> 00:53:36,280 You know, you know. So if you have people fighting 984 00:53:36,280 --> 00:53:40,520 against each other all day long, it's a way to to perpetuate the 985 00:53:40,520 --> 00:53:43,800 FUD, keep the price down so that the people who get it can stack. 986 00:53:44,000 --> 00:53:47,000 Which is still though making it's the 2nd and 3rd order, 4th 987 00:53:47,000 --> 00:53:49,520 order effects of the existence of Bitcoin is still enhancing 988 00:53:49,520 --> 00:53:50,920 people's lives even if they don't own it. 989 00:53:51,960 --> 00:53:55,040 And so why is Bitcoin a solution for everyone then? 990 00:53:55,040 --> 00:53:56,960 I heard you say that and I loved it. 991 00:53:57,200 --> 00:54:01,000 But how? How is Bitcoin for everyone? 992 00:54:01,000 --> 00:54:04,840 Literally everyone. Literally everyone. 993 00:54:04,880 --> 00:54:09,400 Uh, well, I mean it kind of ties into what I was just saying as. 994 00:54:09,480 --> 00:54:13,400 So I think about like a good metaphor that I like is let's 995 00:54:13,400 --> 00:54:15,280 think, let's let's think. We're squirrels. 996 00:54:15,280 --> 00:54:18,400 We're squirrels going through the proverbial forests of life 997 00:54:18,400 --> 00:54:21,720 trying to gather nuts to survive the winter, trying to hedge 998 00:54:21,720 --> 00:54:24,840 ourselves against the future uncertainty or the future 999 00:54:24,840 --> 00:54:27,800 certainty of being able to not perform at the same level in 1000 00:54:27,800 --> 00:54:29,560 which you someday you're going to be able, you're going to get 1001 00:54:29,560 --> 00:54:31,680 old and you're not going to be able to climb around the trees 1002 00:54:31,680 --> 00:54:33,400 as effectively and gather your nuts, right. 1003 00:54:33,400 --> 00:54:34,880 You're not going to be able to work as much. 1004 00:54:34,880 --> 00:54:37,360 You're not going to go into the marketplace and be as productive 1005 00:54:37,880 --> 00:54:44,200 as you are today, for example. And so if within the physical 1006 00:54:44,200 --> 00:54:47,960 world, if you're the proverbial metaphorical squirrel and you're 1007 00:54:47,960 --> 00:54:50,160 gathering nuts, and you're really good at it, and you 1008 00:54:50,160 --> 00:54:53,720 gather all the nuts, there are other squirrels now that don't 1009 00:54:53,720 --> 00:54:56,280 have access to nuts and they're going to starve and not make it 1010 00:54:56,280 --> 00:54:57,680 through the winter. And you can say that that's 1011 00:54:57,680 --> 00:55:00,360 Darwinian and fair enough whatever, that you can say that 1012 00:55:00,360 --> 00:55:01,760 that's just the way the world works. 1013 00:55:01,760 --> 00:55:04,640 And BB, before Bitcoin, that was the way the world works. 1014 00:55:05,160 --> 00:55:08,720 But now that we have discovered matter within cyberspace or this 1015 00:55:08,720 --> 00:55:11,440 finite instrument, this metaphysical property, that's 1016 00:55:11,440 --> 00:55:15,320 invisible, but it's finite, and we could send this informational 1017 00:55:15,320 --> 00:55:18,480 piece of the hardest substance in the known universe, I send it 1018 00:55:18,480 --> 00:55:21,000 from me to you, I no longer have it. 1019 00:55:21,000 --> 00:55:23,080 And now you have it. And it's invisible. 1020 00:55:23,080 --> 00:55:27,120 It's in the land beyond. It's at this invisible thing. 1021 00:55:28,040 --> 00:55:33,440 If if we hoard this, it's strengthening everybody else's 1022 00:55:33,560 --> 00:55:38,520 Bitcoin and it's not unethical. And so you'll never be able to 1023 00:55:38,520 --> 00:55:44,240 tell the squirrel that's really good at gathering nuts ethically 1024 00:55:44,240 --> 00:55:46,640 or unethically. He just goes and pricks another 1025 00:55:46,640 --> 00:55:48,600 squirrel with a little squirrel sword. 1026 00:55:48,600 --> 00:55:50,480 Hey, you are taking all your nuts. 1027 00:55:50,480 --> 00:55:54,240 OK, well, that's pretty shitty. But you know, let's say that's 1028 00:55:54,240 --> 00:55:57,000 just how it is. You'll never stop somebody from 1029 00:55:57,000 --> 00:56:00,520 being like, OK, so I got 1 winter's worth of acorns. 1030 00:56:00,920 --> 00:56:03,640 I'm just going to stop now. No, because you want to 1031 00:56:03,640 --> 00:56:05,280 continue. If you're productive, continue 1032 00:56:05,280 --> 00:56:07,680 to stack and stack and stack. Maybe you would just want to 1033 00:56:07,680 --> 00:56:11,720 work for three seasons and save up enough acorns to live the 1034 00:56:11,720 --> 00:56:14,160 rest of your life. Well, if you do that in the 1035 00:56:14,160 --> 00:56:18,440 physical world, you're hoarding things other people need, 1036 00:56:18,440 --> 00:56:20,720 putting more scarcity on those things. 1037 00:56:21,320 --> 00:56:24,200 And so for example, housing is where people have stored most of 1038 00:56:24,200 --> 00:56:26,360 their value. Real estate, you know, 1039 00:56:26,400 --> 00:56:28,600 everybody's all, they're not making any more of it. 1040 00:56:28,600 --> 00:56:30,360 Well, they're continuing to subdivide. 1041 00:56:30,360 --> 00:56:32,720 And you look at how much available acreage there is on 1042 00:56:32,720 --> 00:56:34,800 planet Earth, it's pretty fucking abundant. 1043 00:56:34,800 --> 00:56:37,640 It's actually probably as abundant as oxygen is, right. 1044 00:56:37,640 --> 00:56:40,720 And so really the fact that we have monetized it at the level 1045 00:56:40,720 --> 00:56:43,240 we have as a result of a broken monetary paradigm. 1046 00:56:44,440 --> 00:56:47,880 And so hoarding the Bitcoin is not unethical. 1047 00:56:47,880 --> 00:56:50,600 It's not bad for anybody. It's actually good for 1048 00:56:50,600 --> 00:56:53,840 everybody, including people who don't own coins today. 1049 00:56:53,920 --> 00:56:56,440 And someday they will, you know, and if they don't, it's OK 1050 00:56:56,440 --> 00:56:59,560 because everything is still being demonetized as a result of 1051 00:56:59,560 --> 00:57:02,480 the existence of Bitcoin. And so I do believe Bitcoin is 1052 00:57:02,480 --> 00:57:04,200 good for everybody, including the no pointers. 1053 00:57:04,200 --> 00:57:05,600 It's good for the government. It's good for. 1054 00:57:05,840 --> 00:57:09,480 It's good for the pleb, the small business, the, you know, 1055 00:57:09,480 --> 00:57:12,600 the baller that's got a couple houses and lives in a $40 1056 00:57:12,600 --> 00:57:15,360 million flat in Miami. It's good for the small 1057 00:57:15,360 --> 00:57:18,160 corporations, the large corporations, the small nation 1058 00:57:18,160 --> 00:57:20,760 states, the large nation states. It's good for the banking 1059 00:57:20,760 --> 00:57:23,760 bloodlines. It's good for fucking everybody. 1060 00:57:23,760 --> 00:57:26,840 It's a solution for everybody because everybody has the same 1061 00:57:26,840 --> 00:57:29,680 game theoretic issue. We don't want to be debased. 1062 00:57:29,840 --> 00:57:32,520 We don't want to be stolen from. We don't want to be, you know, 1063 00:57:33,040 --> 00:57:35,400 Yeah. So I think bitcoins good for 1064 00:57:35,400 --> 00:57:36,840 everybody. I do. 1065 00:57:37,960 --> 00:57:40,880 All right. So Bitcoin regulations, you have 1066 00:57:40,880 --> 00:57:45,080 a lot of experience with, you know, within your cannabis 1067 00:57:45,080 --> 00:57:50,440 career, with regulations. How do you think, if any, the 1068 00:57:50,440 --> 00:57:55,320 government will try to come in and regulate or, you know, ask 1069 00:57:55,320 --> 00:57:58,320 for more? Like Elizabeth Warren's proposal 1070 00:57:59,240 --> 00:58:02,200 was actually pretty dumb, I might say. 1071 00:58:02,200 --> 00:58:06,720 I saw, I don't know her name, but on Twitter I saw a rebuttal 1072 00:58:07,360 --> 00:58:10,600 of this woman that's a video, don't know her name, but she 1073 00:58:10,600 --> 00:58:15,680 went to all the sponsors of Elizabeth Warren's bill or 1074 00:58:15,680 --> 00:58:19,400 proposal and explained to them that there are already 1075 00:58:19,400 --> 00:58:24,000 regulations for all the platforms, the crypto platforms 1076 00:58:24,000 --> 00:58:25,920 in America. And they were all shocked 1077 00:58:25,920 --> 00:58:29,800 because they didn't know. So Warren duped them into 1078 00:58:31,080 --> 00:58:35,040 sponsoring her basically. But yeah, what are your thoughts 1079 00:58:35,040 --> 00:58:36,160 there? Regulations. 1080 00:58:36,960 --> 00:58:39,680 So I'll give you a little back story. 1081 00:58:40,120 --> 00:58:46,440 In the state of California in 1996, Prop 215 was passed, which 1082 00:58:46,440 --> 00:58:50,200 was medical marijuana. And the rules essentially said 1083 00:58:50,200 --> 00:58:55,080 if you were a qualified patient member of a collective of other 1084 00:58:55,080 --> 00:58:58,960 qualified patient members, you could share cannabis within that 1085 00:58:58,960 --> 00:59:00,960 collective. Well that means that somebody 1086 00:59:00,960 --> 00:59:06,240 had to produce it, OK. As a result of Prop 215 what 1087 00:59:06,240 --> 00:59:11,200 ended up happening is, is this multi $1,000,000 mega industry 1088 00:59:11,480 --> 00:59:18,720 developed and in 2015 the Governor Jerry Brown at the time 1089 00:59:19,040 --> 00:59:24,600 signed into effect a new bill called MERSA Medical Marijuana 1090 00:59:24,600 --> 00:59:29,000 Safety Regulations Act. And what MERSA was, was the 1091 00:59:29,160 --> 00:59:33,680 regulatory, the most basic regulatory framework put into 1092 00:59:33,680 --> 00:59:39,600 effect preemptively knowing that the probability in 2016 when the 1093 00:59:39,600 --> 00:59:41,600 people voted, I think it was 2016. 1094 00:59:41,600 --> 00:59:45,080 It went into effect in 2018 that the people of California were 1095 00:59:45,080 --> 00:59:48,520 going to pass recreational, adult use cannabis. 1096 00:59:48,520 --> 00:59:51,360 They were going to quote UN quote, fully legalize it and the 1097 00:59:51,360 --> 00:59:56,640 state was going to fully permit and license it and MRSA. 1098 00:59:56,680 --> 01:00:01,360 What a MRSA essentially said was this is in your county, your 1099 01:00:01,360 --> 01:00:05,880 jurisdiction within the state of California, the county officials 1100 01:00:06,280 --> 01:00:11,640 could either permit or ban any cannabis activity. 1101 01:00:11,960 --> 01:00:15,480 So that's going to be cultivation, manufacturing, 1102 01:00:15,480 --> 01:00:20,960 distribution and retail. And so some county said we don't 1103 01:00:20,960 --> 01:00:24,120 want any of that and they actually kind of suffered 1104 01:00:24,120 --> 01:00:26,080 economically as a result of that. 1105 01:00:26,080 --> 01:00:29,760 That's beside the point. But most counties put into 1106 01:00:29,880 --> 01:00:35,040 effect a land use ordinance. So this farm for example here 1107 01:00:35,040 --> 01:00:39,280 that I'm in now is permitted by the county and it received the 1108 01:00:39,280 --> 01:00:44,280 permit by from Humboldt County before it received a license 1109 01:00:44,280 --> 01:00:47,920 from the State of California. And the permit issued by the 1110 01:00:47,920 --> 01:00:53,280 county was via their land use ordinance and it has to do with 1111 01:00:53,280 --> 01:00:58,360 Setbacks, Endangered Species. There can't be any spotted owl 1112 01:00:58,360 --> 01:01:01,080 on the property inhabited in any of the trees. 1113 01:01:01,080 --> 01:01:06,000 There can't be any endangered grasslands or wetlands or any 1114 01:01:06,000 --> 01:01:08,520 sensitive that you can't be too close to a Creek. 1115 01:01:08,520 --> 01:01:10,720 I can't have a school too close, no bus. 1116 01:01:10,960 --> 01:01:13,000 It's kind of like a a liquor license. 1117 01:01:13,160 --> 01:01:16,560 You can't just throw a bar up right next door to an elementary 1118 01:01:16,560 --> 01:01:19,000 school or right next to a high school, right? 1119 01:01:19,760 --> 01:01:24,120 And so the county permits the facility and then the entity 1120 01:01:24,120 --> 01:01:27,920 that has owns the land and owns the permit that's attached to 1121 01:01:27,920 --> 01:01:31,120 the land gets to apply to the state for a license from the 1122 01:01:31,120 --> 01:01:32,960 state of California. And then they can lawfully 1123 01:01:32,960 --> 01:01:34,800 operate within the new legal framework. 1124 01:01:34,800 --> 01:01:40,040 So when MRSA was signed into effect, Humboldt County hit the 1125 01:01:40,040 --> 01:01:42,640 ground hard with a land use ordinance. 1126 01:01:42,880 --> 01:01:48,200 So did a lot of other counties. Humboldt County was the 1st at 1127 01:01:48,200 --> 01:01:51,440 the time. In Humboldt County there was 1128 01:01:51,440 --> 01:01:58,880 12,600 and some odd farms. Farms that were visible via 1129 01:01:58,880 --> 01:02:04,280 Google Maps. Not special satellites, not DEA 1130 01:02:04,280 --> 01:02:09,080 drones, not helicopters with men hanging from them, counting the 1131 01:02:09,080 --> 01:02:11,760 facilities. These are farms that are 1132 01:02:11,760 --> 01:02:17,120 determined to be of commercial scale via Google imagery. 1133 01:02:17,320 --> 01:02:22,240 OK, 12,600 farms, Humboldt County says. 1134 01:02:22,400 --> 01:02:25,840 Here's our land use ordinance and the state of California. 1135 01:02:25,840 --> 01:02:30,520 Also, their regulations were essentially incentivizing 1136 01:02:30,880 --> 01:02:32,800 through the carrot and the stick. 1137 01:02:33,480 --> 01:02:37,840 If you come come into compliance and regular and register your 1138 01:02:37,840 --> 01:02:41,000 cannabis business and you could prove you're within good 1139 01:02:41,000 --> 01:02:44,600 standing under the 215 framework in our current existing 1140 01:02:44,600 --> 01:02:47,800 nonprofit laws, then you're going to get priority for 1141 01:02:47,800 --> 01:02:49,440 licensure. You will have. 1142 01:02:49,480 --> 01:02:52,000 You will be in the fast lane to get a license from the state of 1143 01:02:52,000 --> 01:02:56,240 California, and we're also going to stop large corporations from 1144 01:02:56,240 --> 01:02:58,880 coming in for a period of time. We're going to give you this, 1145 01:02:59,200 --> 01:03:02,160 this grace period in this land of opportunity. 1146 01:03:03,840 --> 01:03:06,600 They put into effect the deadline to register your farm. 1147 01:03:07,000 --> 01:03:15,640 Out of 12,600 some odd farms, 123 farms registered under the 1148 01:03:15,840 --> 01:03:20,480 first initial, I don't know, regulatory framework that was 1149 01:03:20,680 --> 01:03:24,400 offered to the marketplace. The cannabis community at large 1150 01:03:24,400 --> 01:03:27,360 gave the proverbial middle finger to the regulators. 1151 01:03:27,480 --> 01:03:30,040 And these are people who want to run their farms. 1152 01:03:30,040 --> 01:03:32,120 They didn't want to. Oh yeah, we just want to live 1153 01:03:32,120 --> 01:03:35,200 this rebel, outlaw life. You could get fucked work. 1154 01:03:35,520 --> 01:03:36,840 No, like, these are people who are. 1155 01:03:36,880 --> 01:03:39,360 These are families. These are everyday hard working 1156 01:03:39,360 --> 01:03:43,080 individuals who are associated in the market demand doing 1157 01:03:43,080 --> 01:03:48,880 something that they believe 123 out of 12,600 people farms 1158 01:03:49,000 --> 01:03:51,800 registered within the state of California or within the county. 1159 01:03:52,640 --> 01:03:55,720 That's just Humboldt County. You know what the regulators 1160 01:03:55,720 --> 01:03:58,240 did? Instead of sending law 1161 01:03:58,240 --> 01:04:03,000 enforcement around to farms that you and I could take a tour of 1162 01:04:03,000 --> 01:04:05,360 right now on Google Maps, I can show you these places. 1163 01:04:05,360 --> 01:04:08,160 Like, here's the land, here's the parcels, instead of sending 1164 01:04:08,200 --> 01:04:11,560 law enforcement around to punish all these people because it's 1165 01:04:11,560 --> 01:04:14,920 not very energy efficient. But this is also not a huge land 1166 01:04:14,920 --> 01:04:16,520 mass. This isn't the whole country. 1167 01:04:16,520 --> 01:04:18,240 This isn't the whole state's humble county. 1168 01:04:18,640 --> 01:04:22,160 Instead of sending SU VS and sheriffs and helicopters around, 1169 01:04:22,400 --> 01:04:24,960 they went back to the drawing board and they came back with 1170 01:04:24,960 --> 01:04:29,600 much more favorable terms. And so when I look at the lens 1171 01:04:29,600 --> 01:04:33,800 and I look at the proposed regulations in an attempt to 1172 01:04:33,800 --> 01:04:36,600 regulate Bitcoin and Bitcoin mining and self custody by 1173 01:04:36,600 --> 01:04:40,280 people like Elizabeth Warren, I think they're absolute fools who 1174 01:04:40,280 --> 01:04:44,240 have no idea what they're doing. They you're talking about 1175 01:04:44,240 --> 01:04:48,160 something that is trillions of times hard, easier to protect 1176 01:04:48,160 --> 01:04:52,480 than it is to attack, right? So you can't even prove if 1177 01:04:52,480 --> 01:04:55,840 someone actually has the Bitcoin that they've been sending in 1178 01:04:55,840 --> 01:04:59,440 cold storage with a different address every time, let alone 1179 01:04:59,440 --> 01:05:03,720 find their Bitcoin via Google Maps and drive an SUV right up 1180 01:05:03,720 --> 01:05:08,080 to the private keys. So yeah, I understand why there 1181 01:05:08,080 --> 01:05:10,040 are regulators who are asking for everything. 1182 01:05:10,040 --> 01:05:12,000 They did it in the state of California, actually. 1183 01:05:12,000 --> 01:05:14,760 Then they came in and they overtaxed it and they had to 1184 01:05:14,760 --> 01:05:18,040 drop the taxes. Land use or like Humble County 1185 01:05:18,040 --> 01:05:21,480 used to charge a square foot tax for every square foot You know 1186 01:05:21,480 --> 01:05:25,040 you had to pay a one dollar, $2.00 or $3 defend depending on 1187 01:05:25,040 --> 01:05:27,760 what you're cultivating. Outdoor mix, lighter indoor. 1188 01:05:28,360 --> 01:05:32,000 They dropped the taxes. Farms are going out of business. 1189 01:05:32,000 --> 01:05:34,200 The regulators aren't collecting any money. 1190 01:05:34,440 --> 01:05:38,000 They keep coming back with more favorable terms because what 1191 01:05:38,000 --> 01:05:41,480 they wanted was motherfucking preposterous, dude. 1192 01:05:41,840 --> 01:05:44,640 And it's even more preposterous to think that they're going to 1193 01:05:44,640 --> 01:05:46,680 ban self cost. How do you even do that? 1194 01:05:46,880 --> 01:05:51,600 How charge 30% electrical tax to the miners dude you know the 1195 01:05:51,600 --> 01:05:54,000 United Texas is going to be up in arms. 1196 01:05:54,000 --> 01:05:56,640 You know how much money Texas is making right now from Bitcoin 1197 01:05:56,640 --> 01:05:58,480 mine. It's just crazy. 1198 01:05:58,480 --> 01:06:01,320 I understand it's you could say it's a legitimate concern 1199 01:06:01,320 --> 01:06:03,760 because these regulators are proposing things that are bad 1200 01:06:03,760 --> 01:06:06,600 for the industry. I don't get too worried about it 1201 01:06:06,600 --> 01:06:10,280 because I watched the the government come in and try to 1202 01:06:10,280 --> 01:06:13,840 regulate an existing multi billion dollar industry with 1203 01:06:14,280 --> 01:06:17,720 with very prohibitive excessive rules and regulations. 1204 01:06:17,720 --> 01:06:20,080 And they went back to the drawing board with the tail 1205 01:06:20,080 --> 01:06:22,560 between their legs and they came back and they were much more 1206 01:06:22,560 --> 01:06:26,960 reasonable. And we had way like orders of 1207 01:06:26,960 --> 01:06:32,240 magnitude less leverage than bitcoiners do so. 1208 01:06:32,400 --> 01:06:33,760 I think that's a really good point. 1209 01:06:33,760 --> 01:06:37,000 Yeah. So I'm not saying, you know, 1210 01:06:37,000 --> 01:06:40,280 like I think it's a valid strategy for them. 1211 01:06:40,280 --> 01:06:44,600 I'm just saying, like, I wouldn't be surprised if they 1212 01:06:45,760 --> 01:06:48,800 would be able to sneak something in That's more the point, right? 1213 01:06:48,800 --> 01:06:54,120 Because it's so opaque, you know, it's less clear than, you 1214 01:06:54,200 --> 01:06:58,360 know, a cannabis farm that produces this, this amount and 1215 01:06:58,480 --> 01:07:00,280 distributes and blah, blah, blah, blah. 1216 01:07:00,360 --> 01:07:04,800 You know, like because no one understands Bitcoin in the 1217 01:07:04,800 --> 01:07:09,600 government, most people don't. You know, it would be easy to 1218 01:07:09,600 --> 01:07:14,000 create some sort of opaque text that could get sneaked in. 1219 01:07:14,000 --> 01:07:16,000 That's more the point. But I agree with you. 1220 01:07:16,000 --> 01:07:19,600 I think the. But it would get lost out fast 1221 01:07:20,360 --> 01:07:22,880 exactly. Because you see the replies 1222 01:07:22,880 --> 01:07:26,160 already. The United States government 1223 01:07:26,160 --> 01:07:29,120 would experience some serious pain and once again it puts us 1224 01:07:29,120 --> 01:07:31,800 at a game theoretic A disadvantage against other 1225 01:07:31,800 --> 01:07:35,840 competing marketplaces. And so I just don't even know if 1226 01:07:35,840 --> 01:07:39,640 it if something would get slipped in, and if it did, I 1227 01:07:39,640 --> 01:07:43,840 think the rate in which it would get changed is very quick. 1228 01:07:43,920 --> 01:07:46,520 That and if you understand Bitcoin then you could almost be 1229 01:07:46,520 --> 01:07:49,680 grateful all Elizabeth Warren came up with some stupid bill, 1230 01:07:49,840 --> 01:07:53,240 the price plummeted, and then I got to trade my old shitty pick 1231 01:07:53,240 --> 01:07:57,120 up to a savage who's got some coins and I got cheaper fucking 1232 01:07:57,120 --> 01:07:58,760 coins, right. It's so. 1233 01:07:59,120 --> 01:08:01,720 You can't ban Bitcoin. You can only ban yourself from 1234 01:08:01,720 --> 01:08:05,440 it and it would just the economic pain that would take 1235 01:08:05,440 --> 01:08:07,120 place. It's like BlackRock though. 1236 01:08:07,280 --> 01:08:11,920 BlackRock is getting paid to manage people's Bitcoin in their 1237 01:08:11,920 --> 01:08:16,040 ETF account. So the economic incentive is to 1238 01:08:16,040 --> 01:08:19,920 support and go along with the the network, not to go against 1239 01:08:19,920 --> 01:08:23,240 it. And I just think that I used to 1240 01:08:23,240 --> 01:08:25,560 be more concerned about this. And I've just literally, I 1241 01:08:25,560 --> 01:08:30,120 almost think about how what kind of am I in jeopardy as a result 1242 01:08:30,120 --> 01:08:33,279 of being a Bitcoin maximalist and have it all, literally all 1243 01:08:33,279 --> 01:08:36,680 of my money is in Bitcoin. So I have a huge incentive to 1244 01:08:36,680 --> 01:08:39,000 think about this a lot. And I could be wrong. 1245 01:08:39,000 --> 01:08:40,760 I'm just a dude. It's just my thesis. 1246 01:08:40,760 --> 01:08:43,960 What the fuck do I know? But the more and more and more I 1247 01:08:43,960 --> 01:08:46,800 think about it and the more and more I play out, every 1248 01:08:46,800 --> 01:08:48,640 potential. You know, there's like a chess 1249 01:08:48,640 --> 01:08:49,840 tour. You're just thinking about every 1250 01:08:49,840 --> 01:08:53,720 potential move ever. All roads lead to Bitcoin. 1251 01:08:53,720 --> 01:08:59,960 I can't think of a of a timeline in which Bitcoin doesn't make 1252 01:08:59,960 --> 01:09:02,720 everything better for everybody. Yeah, yeah. 1253 01:09:03,399 --> 01:09:07,439 And to end this part, we generously invite anyone who 1254 01:09:07,439 --> 01:09:13,080 wants to discuss us on that right to to talk with us, Right. 1255 01:09:13,080 --> 01:09:16,319 I think I would love to hear. You know, I think it's what 1256 01:09:16,319 --> 01:09:18,760 Saylor says. There are no informed critiques, 1257 01:09:18,760 --> 01:09:28,160 and it sounds so arrogant, but I haven't seen any critiques that 1258 01:09:28,279 --> 01:09:30,439 actually hold up under scrutiny, right? 1259 01:09:30,439 --> 01:09:31,399 So I. Yeah. 1260 01:09:32,040 --> 01:09:34,880 I would love, I would love to see it and I agree with you like 1261 01:09:34,880 --> 01:09:37,040 because you are literally invested. 1262 01:09:37,479 --> 01:09:39,359 I mean I'm in a similar situation. 1263 01:09:39,479 --> 01:09:42,640 Yeah. This is what we study just for 1264 01:09:42,640 --> 01:09:45,240 self preservation first. Totally. 1265 01:09:45,680 --> 01:09:50,279 And and we share it I think enthusiastically with others to 1266 01:09:50,359 --> 01:09:52,760 hopefully get them on the same understanding. 1267 01:09:52,760 --> 01:09:55,560 But but that's the whole point again, I think in Bitcoin 1268 01:09:55,560 --> 01:09:57,880 anyway. Like you don't have to trust us. 1269 01:09:58,680 --> 01:10:02,760 You should trust that we did the work and that's should could be 1270 01:10:02,760 --> 01:10:07,440 the invitation for anyone seeing or listening to this like to do 1271 01:10:07,440 --> 01:10:10,000 the same right. If you think you you you have 1272 01:10:10,000 --> 01:10:11,960 critiques of this. OK. 1273 01:10:11,960 --> 01:10:16,080 Well, that's a nice leeway, I think, to the next nice segue to 1274 01:10:16,080 --> 01:10:18,120 the next part. More thing in on that one now 1275 01:10:18,120 --> 01:10:20,480 I'm a little, you could say I'm a little extreme, but I'm 1276 01:10:20,480 --> 01:10:23,840 actually quite conservative. I'm quite conservative and I'm 1277 01:10:23,840 --> 01:10:28,600 not a huge risk taker. And I also look at my my Bitcoin 1278 01:10:28,840 --> 01:10:35,480 position, or allocation is predicated upon the idea that no 1279 01:10:35,480 --> 01:10:38,040 matter how I slice it and dice it, I don't think Bitcoin goes 1280 01:10:38,040 --> 01:10:40,320 away. It either goes to Infinity or to 1281 01:10:40,320 --> 01:10:43,320 0. If it goes to 0 or it gets 1282 01:10:43,320 --> 01:10:45,680 destroyed, we're in trouble anyways. 1283 01:10:45,800 --> 01:10:48,080 And I'm a motherfucking revolutionary. 1284 01:10:48,080 --> 01:10:51,000 I'm going to ride this bitch to the fucking end, dude. 1285 01:10:51,000 --> 01:10:54,320 And I'll take it to 0 or I'll take it to Infinity because if 1286 01:10:54,320 --> 01:10:56,680 it goes to zero, we're all toast anyways. 1287 01:10:56,840 --> 01:11:00,960 And the most effective way to combat the atrocities that are 1288 01:11:00,960 --> 01:11:03,840 taking place in the world, Like, I see homeless people in the 1289 01:11:03,840 --> 01:11:06,520 local area. When I go, dude, it just wrecks 1290 01:11:06,520 --> 01:11:08,640 me. Seeing dogs and animals on 1291 01:11:08,640 --> 01:11:11,800 social media, getting abused, seeing people get blown up and 1292 01:11:11,800 --> 01:11:16,600 destroyed tears me up inside. It's such a deep soul level I 1293 01:11:16,600 --> 01:11:19,640 can barely handle it. I'm such a softy. 1294 01:11:19,640 --> 01:11:22,720 Like once a week, I literally burst out in fucking tears 1295 01:11:23,000 --> 01:11:27,200 because I know how effective Bitcoin is at combating all of 1296 01:11:27,200 --> 01:11:29,520 this. And so I have an extreme 1297 01:11:29,520 --> 01:11:31,240 position you could say, based upon. 1298 01:11:31,240 --> 01:11:34,040 I'm so passionate about effecting change. 1299 01:11:34,280 --> 01:11:36,520 But I also think this is what's so beautiful. 1300 01:11:36,520 --> 01:11:39,560 This is where what's best for the individual is what's best 1301 01:11:39,560 --> 01:11:44,400 for the collective, and you get paid to do the most moral, 1302 01:11:44,400 --> 01:11:47,480 righteous thing ever. And that's the stack Sats. 1303 01:11:48,240 --> 01:11:52,840 So anyways. Again, this is something I think 1304 01:11:52,840 --> 01:11:57,000 for lots of people that are not that into Bitcoin yet or not, 1305 01:11:58,280 --> 01:12:02,000 it's just so hard to understand because they grow up. 1306 01:12:02,080 --> 01:12:08,800 And we also grew up in this system where that stuff actually 1307 01:12:08,800 --> 01:12:11,280 exists, right? And everyone says, oh, it 1308 01:12:11,280 --> 01:12:13,160 should, it should not exist, right. 1309 01:12:13,160 --> 01:12:17,000 Everyone and you know, protests against certain violence or 1310 01:12:17,360 --> 01:12:21,200 whatever, but it is about the money. 1311 01:12:21,200 --> 01:12:23,680 All the things are downstream from the broken money, right? 1312 01:12:23,680 --> 01:12:27,200 So we can still feel that we want to change something, but 1313 01:12:28,040 --> 01:12:32,480 yeah, we have to do this. We have to move from this old 1314 01:12:32,480 --> 01:12:38,680 system basically, right. And yeah, so I love it when you 1315 01:12:38,680 --> 01:12:42,800 say this like I I agree so much. I am the same risk averse 1316 01:12:42,800 --> 01:12:44,240 control freak. Person. 1317 01:12:45,480 --> 01:12:49,280 And I moved all the way into Bitcoin, like it is the best 1318 01:12:49,280 --> 01:12:51,920 thing to do for yourself but also for other people. 1319 01:12:51,920 --> 01:12:54,920 And got like every time I say that, I think like, oh, that 1320 01:12:54,920 --> 01:13:00,800 sounds so pretentious and you know, but yeah, I don't know. 1321 01:13:00,800 --> 01:13:04,040 I'm not going to apologize that my mind ended up there, you 1322 01:13:04,040 --> 01:13:09,320 know, But it's it's I I think also a challenge for us to think 1323 01:13:09,320 --> 01:13:14,560 about how how do we communicate that and how do we invite people 1324 01:13:14,560 --> 01:13:21,000 to not necessarily again right to join us but to study and see 1325 01:13:21,000 --> 01:13:23,840 what this could be. And that what you said, you know 1326 01:13:24,040 --> 01:13:26,840 and what we talked about before. You can only get value out of it 1327 01:13:26,840 --> 01:13:32,000 when when you add value to it. And that is just a 180 from what 1328 01:13:32,000 --> 01:13:34,680 we currently live in and that we want. 1329 01:13:34,680 --> 01:13:37,000 To be winners. We don't want to be martyrs, we 1330 01:13:37,000 --> 01:13:39,400 want to be winners. And if you have an issue with 1331 01:13:39,400 --> 01:13:42,240 the atrocity taking place in the world, you don't need to get 1332 01:13:42,240 --> 01:13:46,320 behind William Wallace with a sword and go and slice up your 1333 01:13:46,320 --> 01:13:48,840 opponents. You just move your shitty 1334 01:13:48,840 --> 01:13:52,680 fucking cockbucks your your energy out of an old dollar 1335 01:13:52,680 --> 01:13:57,480 dollar derivatives, all of your old BB before Bitcoin monetary 1336 01:13:57,480 --> 01:13:59,240 instruments. Just move them all into Bitcoin. 1337 01:13:59,880 --> 01:14:03,280 Sit back, enjoy the oh. You just start ignoring it, 1338 01:14:03,320 --> 01:14:05,760 right? You start start ignoring the 1339 01:14:05,760 --> 01:14:09,560 system that affects you in in multiple ways. 1340 01:14:09,640 --> 01:14:12,280 And by the way, I also agree with what you said. 1341 01:14:12,840 --> 01:14:16,560 It is either zero or everything. That's always been my thesis 1342 01:14:16,560 --> 01:14:21,440 actually from the start and it is not, it's definitely not 1343 01:14:21,440 --> 01:14:23,560 going to 0. So it has to be the other thing, 1344 01:14:25,000 --> 01:14:27,240 you know. So yeah, I agree. 1345 01:14:27,240 --> 01:14:32,560 And that maybe again is also something that when you look at 1346 01:14:32,560 --> 01:14:36,640 history, right with the fall of Fiat money, a few different Fiat 1347 01:14:36,640 --> 01:14:42,280 monies from different empires that rule the world, it's just 1348 01:14:42,280 --> 01:14:45,520 also really hard to actually realize that we are in this same 1349 01:14:45,520 --> 01:14:48,680 moment, right. Like the fact that something 1350 01:14:48,680 --> 01:14:52,520 that is, that has repeated in history is actually happening 1351 01:14:52,880 --> 01:14:57,120 now at the time that we are alive and that we can actually 1352 01:14:58,000 --> 01:15:01,240 participate in it in a certain way that we can actually protect 1353 01:15:01,240 --> 01:15:04,600 ourselves and help other people. Like that is so big. 1354 01:15:04,720 --> 01:15:07,600 You know it's so it's it's just really big. 1355 01:15:07,600 --> 01:15:10,640 And so that is one of the things I've thought about a lot, that 1356 01:15:10,880 --> 01:15:14,840 that once you realize what Bitcoin is and but then you put 1357 01:15:14,840 --> 01:15:17,840 it in this historical perspective, you instantly start 1358 01:15:17,840 --> 01:15:20,120 doubting yourself, like, could this really be, am I living in 1359 01:15:20,120 --> 01:15:22,960 this moment in history? Like, yeah, duh, like every day 1360 01:15:22,960 --> 01:15:26,280 is history, right? But but it's just, again, one of 1361 01:15:26,280 --> 01:15:30,000 those points I think is nice also to share with other people 1362 01:15:30,000 --> 01:15:33,720 that even for people like us who were totally into this, like 1363 01:15:33,720 --> 01:15:37,160 these thoughts exists, You know, you're like, you can be 1364 01:15:37,400 --> 01:15:40,120 convinced of what this is, but there are moments that you 1365 01:15:40,120 --> 01:15:45,240 actually doubt yourself or you know what this could be. 1366 01:15:45,480 --> 01:15:50,480 It's but it feels like my life has become this like dreams of 1367 01:15:50,480 --> 01:15:53,800 living in some like dream state almost where it's just like, I 1368 01:15:53,840 --> 01:15:55,480 don't know. It's almost like the discovery 1369 01:15:55,480 --> 01:15:58,280 of Bitcoin is like hacking the matrix where you're just like Oh 1370 01:15:58,400 --> 01:16:01,000 my goodness like this is almost too good to be true. 1371 01:16:01,000 --> 01:16:02,480 Like, am I going to wake up in some? 1372 01:16:02,480 --> 01:16:16,200 Like we're all so broken inside because we know if we're not 1373 01:16:16,200 --> 01:16:19,360 sociopathic and willing to lie, cheat, steal and kill, we're out 1374 01:16:19,360 --> 01:16:22,160 of game theoretic disadvantage within the marketplace. 1375 01:16:22,160 --> 01:16:23,800 And it's like, depressing, you know? 1376 01:16:23,800 --> 01:16:27,240 And so, you know, as far as I'm concerned, and I genuinely 1377 01:16:27,240 --> 01:16:31,760 believe this, like this is the most exciting thing to be a part 1378 01:16:31,760 --> 01:16:34,600 of as far as I can tell in all of known history. 1379 01:16:35,280 --> 01:16:39,320 Like, and if you understand that, like, holy motherfucking 1380 01:16:39,400 --> 01:16:41,400 bully dude. Like, how lucky are we? 1381 01:16:41,480 --> 01:16:44,120 Is that like, are you kidding me? 1382 01:16:44,120 --> 01:16:48,080 We are riding this wave. This is the most beautiful, epic 1383 01:16:48,080 --> 01:16:54,880 thing that has ever happened. And that is just so, so special, 1384 01:16:54,880 --> 01:16:57,160 man. It's just so fucking special. 1385 01:16:58,080 --> 01:17:02,400 Let's also, I think, address that we should allow ourselves 1386 01:17:02,400 --> 01:17:04,480 to actually experience it, right? 1387 01:17:04,480 --> 01:17:08,360 Like, yes, we are here, you know, and this is happening in 1388 01:17:08,360 --> 01:17:11,000 some way or another. Yeah, I agree. 1389 01:17:11,440 --> 01:17:16,440 So then on to the segue to the to the next thing we want to 1390 01:17:16,440 --> 01:17:19,240 talk about this trading shit, coins versus huddling your 1391 01:17:19,240 --> 01:17:21,120 Bitcoin, I think we talked about. 1392 01:17:21,640 --> 01:17:23,640 You. Know when the price goes down, 1393 01:17:23,640 --> 01:17:26,480 we buy more Bitcoin. I think we talked about the 1394 01:17:26,480 --> 01:17:29,920 nihilistic world versus the optimistic world. 1395 01:17:30,840 --> 01:17:33,760 I talked about that a lot, actually, with Eric Cason in one 1396 01:17:33,760 --> 01:17:36,240 of the previous episodes, I lost that interview. 1397 01:17:36,960 --> 01:17:41,000 Nihilism versus optimism, but trading shit coins versus 1398 01:17:41,000 --> 01:17:42,960 huddling. Like for me it is. 1399 01:17:43,520 --> 01:17:46,440 I mean, I I tried out crypto stuff. 1400 01:17:46,440 --> 01:17:51,120 I tried out NFTS like I I did that because wanted to 1401 01:17:51,120 --> 01:17:52,880 experience it. Like how does this work, You 1402 01:17:52,880 --> 01:17:56,000 know figure all that stuff out. Made some money all into 1403 01:17:56,000 --> 01:17:59,120 Bitcoin. But like huddling Bitcoin, I my 1404 01:17:59,120 --> 01:18:02,520 life is so much easier actually. Like I don't have to do 1405 01:18:02,520 --> 01:18:05,160 anything. We're trading coins is like you 1406 01:18:05,160 --> 01:18:08,560 have to look for the next gem and the next team that's gonna 1407 01:18:08,560 --> 01:18:11,320 promise like blah blah blah. And then I'm going to invest and 1408 01:18:11,320 --> 01:18:14,880 just, you know, I'm going to try to sell after the first pump. 1409 01:18:14,880 --> 01:18:18,800 Like, now that I look back on that, like it gives you so much 1410 01:18:19,400 --> 01:18:21,960 unnecessary mindspace, But like, what are your thoughts on 1411 01:18:21,960 --> 01:18:23,960 trading shit coins versus puddling? 1412 01:18:24,480 --> 01:18:27,800 I think it's a BB, it's a before Bitcoin strategy. 1413 01:18:27,800 --> 01:18:32,080 It's an old world strategy. And you know, I I feel like a. 1414 01:18:32,520 --> 01:18:37,360 So yeah, some people are capable of advancing their position, but 1415 01:18:37,360 --> 01:18:41,520 it is unethical and in the sense that like it's like cutting 1416 01:18:41,520 --> 01:18:44,480 people off within traffic. Like you're exerting a lot of 1417 01:18:44,480 --> 01:18:47,440 energy, you're reducing your fuel consumption or whatever. 1418 01:18:47,520 --> 01:18:50,080 If you're capable of like zooming through and changing 1419 01:18:50,080 --> 01:18:52,720 lanes and get further down the road, like I don't know, some 1420 01:18:52,720 --> 01:18:54,080 people are capable of doing that. 1421 01:18:54,520 --> 01:18:56,280 I don't have the bandwidth. I don't have the time. 1422 01:18:56,280 --> 01:18:59,800 I don't have the energy. Dude, I got wrecked in the 2018. 1423 01:18:59,960 --> 01:19:02,600 You know, ICOI was the. Exit. 1424 01:19:03,240 --> 01:19:06,720 I was the exit liquidity for a bunch of these scumbags just 1425 01:19:06,720 --> 01:19:10,840 dumping on people. But I do think this, I think 1426 01:19:10,840 --> 01:19:15,680 that the whole ship coin and the famous words of Crowder, the 1427 01:19:15,680 --> 01:19:18,520 whole ship coin movement is essentially A flawed. 1428 01:19:18,560 --> 01:19:23,440 The value proposition is a flawed premise because it's if 1429 01:19:23,440 --> 01:19:26,760 the price pumps on any of these then you're going to have a 1430 01:19:26,760 --> 01:19:28,600 bunch of dummies going by Lambos. 1431 01:19:28,600 --> 01:19:32,280 They're going to sell down their position to go and get catch 1432 01:19:32,400 --> 01:19:36,080 their thousand X to go buy some dollar denominated dollar 1433 01:19:36,080 --> 01:19:37,840 derivative, have some fun or whatever, right. 1434 01:19:37,840 --> 01:19:39,440 And so that means that it's a trade. 1435 01:19:39,720 --> 01:19:43,480 That means that you're you have to exit your position and 1436 01:19:43,480 --> 01:19:46,840 realize your gains or take profit, right. 1437 01:19:46,840 --> 01:19:49,680 As like big boy Crypto would say, oh, hey, we're taking 1438 01:19:49,680 --> 01:19:53,400 profit, right. And so I think that that's the 1439 01:19:53,400 --> 01:19:56,920 one of the issues I I like a simple strategy. 1440 01:19:56,920 --> 01:19:59,600 I think the simple strategy also offers you the highest 1441 01:19:59,600 --> 01:20:02,640 probability of success. And in the famous words of 1442 01:20:02,640 --> 01:20:07,600 sailor and Bitcoin, Prague 2023, trading Bitcoin is AI wonder if 1443 01:20:07,600 --> 01:20:09,840 he even meant to say this. I wonder if it just like whoops 1444 01:20:09,840 --> 01:20:12,720 slipped out of his mouth or if it was premeditated for his 1445 01:20:12,720 --> 01:20:15,120 keynote. But trading Bitcoin is a sign of 1446 01:20:15,120 --> 01:20:18,880 lesser intellect if you understand how important Bitcoin 1447 01:20:18,880 --> 01:20:22,160 is. It's too much risk, 1% of the 1448 01:20:22,160 --> 01:20:24,760 days. So it's like 9-9 and a half, ten 1449 01:20:24,760 --> 01:20:27,040 days out of the year, responsible for, I think it's 1450 01:20:27,040 --> 01:20:32,000 90% of the price moves. And so, you know, and so I think 1451 01:20:32,000 --> 01:20:35,920 too, like, if I were to sell some Bitcoin, I'm only selling 1452 01:20:35,920 --> 01:20:38,720 Bitcoin for something that I absolutely, immediately need. 1453 01:20:38,720 --> 01:20:41,040 A couple years ago, I was chatting with my dad during 1454 01:20:41,040 --> 01:20:44,440 2021's bull run and I was like, hey, look, Bitcoin's 50 grand. 1455 01:20:44,440 --> 01:20:46,400 Like, I'd sell it. You should sell it. 1456 01:20:46,560 --> 01:20:48,840 I'm like, but for what? For what sell it for? 1457 01:20:48,880 --> 01:20:50,800 What? Like, I don't, I don't. 1458 01:20:51,000 --> 01:20:52,480 You know what I mean? Like, what am I going to sell it 1459 01:20:52,480 --> 01:20:53,840 for? Because then if I sold it and I 1460 01:20:53,840 --> 01:20:56,040 had dollars, now I got to buy the Bitcoin back, right? 1461 01:20:56,040 --> 01:20:57,360 Like, and it doesn't make any sense. 1462 01:20:57,360 --> 01:20:58,840 You could wake up tomorrow to make this. 1463 01:20:58,840 --> 01:21:01,080 To me. Yeah. 1464 01:21:01,520 --> 01:21:03,640 I want to make this you don't know, like sell for what? 1465 01:21:03,640 --> 01:21:05,520 Sell for what? Like what are you going to do 1466 01:21:05,520 --> 01:21:08,080 and 100% agree with you? Like it should be for something 1467 01:21:08,080 --> 01:21:12,200 that you actually want or want to experience but not for 1468 01:21:12,480 --> 01:21:15,960 dollars in your bank. Like you are this far. 1469 01:21:16,000 --> 01:21:18,680 Like then you are going back. Totally. 1470 01:21:19,280 --> 01:21:25,360 And so I think another issue with altcoins, so Bitcoin is the 1471 01:21:25,360 --> 01:21:28,160 discovery of scarcity. It is the proof. 1472 01:21:28,160 --> 01:21:32,840 It's the dominant proof of work protocol by a longshot like 1473 01:21:32,840 --> 01:21:36,680 there is no second best, right. And so any of the other altcoin. 1474 01:21:36,680 --> 01:21:39,480 So if you have an altcoin, let's say you're looking at like 1475 01:21:39,480 --> 01:21:43,320 Ethereum or Solana or XRP, right, Like the whole idea that 1476 01:21:43,320 --> 01:21:46,280 XRP is going to become the world reserve currency is because 1477 01:21:46,280 --> 01:21:50,000 these dummies are paying for Google ads and they're they got 1478 01:21:50,000 --> 01:21:52,480 some false narrative. That's a false premise because 1479 01:21:52,480 --> 01:21:54,840 do you think that the governments are going to buy 1480 01:21:54,840 --> 01:21:58,800 coins XRP from people when they could just pay their own team to 1481 01:21:58,800 --> 01:22:01,440 write the new protocol? They would just write the new 1482 01:22:01,440 --> 01:22:05,680 protocol that and then if you're going to build a proof of work 1483 01:22:05,920 --> 01:22:10,920 network or a smart chain on nothing, why wouldn't you just 1484 01:22:10,920 --> 01:22:13,640 build that as a layer two or layer 3 on the harder substance 1485 01:22:13,640 --> 01:22:17,400 in the known universe? So it's an old world strategy of 1486 01:22:17,400 --> 01:22:22,480 looking at cryptos as like this, these, this tech boom and you're 1487 01:22:22,480 --> 01:22:25,400 going to be able to catch 1000 X on this tech stock. 1488 01:22:25,400 --> 01:22:27,880 But then once again like you're going to have to sell your 1489 01:22:27,880 --> 01:22:30,280 position. And I also think about it. 1490 01:22:30,280 --> 01:22:34,520 And lastly, I think about it in as similar to what happened with 1491 01:22:34,520 --> 01:22:39,800 the.com bubble, having a digital storefront, a website is so 1492 01:22:39,800 --> 01:22:44,720 revolutionary that created all of the speculative mania and 1493 01:22:44,720 --> 01:22:49,200 companies like pets.com. Some group of people start 1494 01:22:49,200 --> 01:22:54,800 incorporated, they they bought the domain pets.com and then 1495 01:22:54,800 --> 01:22:57,960 they went through the SEC filings and started selling 1496 01:22:58,160 --> 01:23:03,720 equity on Wall Street in their company that had no business, no 1497 01:23:03,720 --> 01:23:07,320 earnings, no cash flow, they didn't have a functional 1498 01:23:07,320 --> 01:23:10,240 business. And so that's just like having 1499 01:23:10,720 --> 01:23:15,800 having a honest incorruptible distributed Ledger is so 1500 01:23:15,800 --> 01:23:19,160 revolutionary. Having a incorruptible protocol 1501 01:23:19,160 --> 01:23:23,640 is so revolutionary that it's creating this mania where people 1502 01:23:23,640 --> 01:23:27,240 are buying all of these, these spin off versions of it that 1503 01:23:27,240 --> 01:23:30,840 really have no world use case. No, the market doesn't want 1504 01:23:30,840 --> 01:23:33,560 them. People are trading these coins 1505 01:23:34,480 --> 01:23:37,520 speculatively, you know, I love it when somebody tells me about 1506 01:23:37,520 --> 01:23:40,600 their fucking shit coin and they're like, Oh yeah, we got 1507 01:23:40,600 --> 01:23:44,120 this cool protocol and all this. I'm like this, where's where's 1508 01:23:44,120 --> 01:23:47,280 the use case? Like are people using it and how 1509 01:23:47,280 --> 01:23:50,000 are you getting funded? Oh, oh, you have a coin. 1510 01:23:50,200 --> 01:23:54,040 Oh, so you're dumping a bunch of pre mined coins to fund 1511 01:23:54,040 --> 01:23:56,600 something that the market is not paying for. 1512 01:23:56,600 --> 01:23:58,680 If the market wants it, they'll fund it. 1513 01:23:58,680 --> 01:24:01,840 If there is not something in the marketplace, in the market wants 1514 01:24:01,840 --> 01:24:04,680 it, they will bid the price up. There will be an economic 1515 01:24:04,680 --> 01:24:07,360 incentive for entrepreneurs and capital to produce that and 1516 01:24:07,360 --> 01:24:10,560 associate the demand. All of this stuff is just 1517 01:24:10,560 --> 01:24:12,680 insiders just dumping their bags on you. 1518 01:24:12,680 --> 01:24:14,800 It's like the whole thing. It's. 1519 01:24:14,800 --> 01:24:17,960 Just it's a game for most. It's a game for most people, 1520 01:24:17,960 --> 01:24:21,120 right? But I dude, yeah. 1521 01:24:21,280 --> 01:24:25,240 And I agree, like, it's not. What is the incentive for a 1522 01:24:25,240 --> 01:24:28,920 government to adopt XRP as some sort of currency where there's 1523 01:24:28,920 --> 01:24:32,640 like nothing defensible about XRP or something? 1524 01:24:32,640 --> 01:24:40,280 Like there's nothing proprietary there that cannot be created by 1525 01:24:40,280 --> 01:24:41,480 a government. It's weird. 1526 01:24:41,840 --> 01:24:45,080 I I don't understand that people are still in this. 1527 01:24:45,080 --> 01:24:46,600 It's kind of like this, hope you know. 1528 01:24:46,600 --> 01:24:48,960 But I mean like from my background I've been in the 1529 01:24:49,120 --> 01:24:51,560 startups and digital businesses for like 10 years. 1530 01:24:51,560 --> 01:24:54,600 Like most most of them fail right? 1531 01:24:54,680 --> 01:24:58,040 And I see the exact same. I say I am in this WhatsApp 1532 01:24:58,400 --> 01:25:01,040 group where people talk about Bitcoin but crypto as well and 1533 01:25:01,040 --> 01:25:04,640 they're like oh, I found I found this little gem it's only like 1534 01:25:04,880 --> 01:25:07,480 1,000,000 market cap and it's a great team. 1535 01:25:07,480 --> 01:25:11,760 Look at this like white paper or fucking website and everything. 1536 01:25:11,760 --> 01:25:15,720 Like dude like this is. This is. 1537 01:25:15,880 --> 01:25:23,000 This is that speculative diversified portfolio strategy 1538 01:25:23,000 --> 01:25:25,840 could make some sense. Let's say you have 10 grand and 1539 01:25:25,840 --> 01:25:27,600 you put a you're. Betting on some sort of 1540 01:25:27,600 --> 01:25:29,720 innovation in a certain industry. 1541 01:25:29,720 --> 01:25:34,040 But you know, I think the difference between Bitcoin and 1542 01:25:34,040 --> 01:25:38,720 crypto is, you know, Bitcoin is a decentralized protocol and 1543 01:25:38,720 --> 01:25:42,800 that represents like the discovery of digital scarcity, 1544 01:25:43,360 --> 01:25:47,360 digital property. And crypto is just an attempt by 1545 01:25:47,360 --> 01:25:53,040 startups to to build some sort of technology where their token 1546 01:25:53,040 --> 01:25:56,160 fuels the use of their system, right? 1547 01:25:56,160 --> 01:26:00,080 They say like, oh, we built this system and there's a token that, 1548 01:26:00,760 --> 01:26:04,120 you know, you can exchange to make things work in this system 1549 01:26:04,960 --> 01:26:06,880 and that is what you can buy that token. 1550 01:26:06,880 --> 01:26:11,680 But, but the adoption of the token doesn't represent the 1551 01:26:11,680 --> 01:26:14,840 usage of that system or that product, right? 1552 01:26:14,840 --> 01:26:19,880 Because it's pure speculation on the value of it, and people 1553 01:26:19,880 --> 01:26:23,120 conflate that also. Yeah well and I believe that the 1554 01:26:23,440 --> 01:26:27,360 venture capitalists and the developers within the greater 1555 01:26:27,360 --> 01:26:33,960 crypto market, the non Bitcoin market, they have a there's a 1556 01:26:33,960 --> 01:26:38,600 distortion, There's like a broken feedback where they 1557 01:26:38,600 --> 01:26:42,560 believe that the market wants what they're doing. 1558 01:26:42,560 --> 01:26:45,480 They're being supported through the speculation. 1559 01:26:45,680 --> 01:26:48,640 We're also because of the rate in which the currency is 1560 01:26:48,640 --> 01:26:53,080 debasing and the the extreme fuckness that's taking place 1561 01:26:53,120 --> 01:26:55,680 amongst the populace and it's time preference. 1562 01:26:55,880 --> 01:26:59,080 People are yoloing into this crap like in the famous words of 1563 01:26:59,080 --> 01:27:02,720 American Hodel, like you think 1000 X on her shit coins going 1564 01:27:02,720 --> 01:27:04,320 to change it. You only do that because you're 1565 01:27:04,320 --> 01:27:07,800 so fucking nihilistic. And the world so fucked, dude. 1566 01:27:08,280 --> 01:27:12,200 And so these developers in these venture capitalists are getting 1567 01:27:12,200 --> 01:27:15,480 paid and they're making money and they think that the world is 1568 01:27:15,480 --> 01:27:19,920 supporting them, but it's because of the brokenness within 1569 01:27:19,920 --> 01:27:22,280 the world. And so it's just this entire. 1570 01:27:22,280 --> 01:27:26,280 Value of their products, No. Yeah, it's not the value of the. 1571 01:27:26,520 --> 01:27:29,920 Product navigate around the SEC rules and I'm I'm a free market 1572 01:27:29,920 --> 01:27:32,160 maximalist. I'm not going to be a promoter. 1573 01:27:32,160 --> 01:27:35,120 It's like when Sailor was talking, talking to Lex Friedman 1574 01:27:35,120 --> 01:27:37,800 and Lex is steel manning the shit out of him And he's like, 1575 01:27:38,200 --> 01:27:41,160 Oh well, I don't want to think about attorneys and rules and 1576 01:27:41,160 --> 01:27:43,400 whatever and say there's like, hey, hey, how about let's look 1577 01:27:43,400 --> 01:27:45,680 at the SEC laws from a different perspective. 1578 01:27:46,000 --> 01:27:48,880 How about let's look at through the biblical perspective of thou 1579 01:27:48,880 --> 01:27:52,680 shall not lie, cheat or steal. Like that's what it is. 1580 01:27:52,680 --> 01:27:56,320 That's what SEC filings are for. Disclosing where your money came 1581 01:27:56,320 --> 01:28:01,240 from, disclosing what who owns, what percentage of what shares 1582 01:28:01,240 --> 01:28:03,680 you have there. And so I think that the whole 1583 01:28:03,680 --> 01:28:06,600 greater crypto market is a way to navigate around that. 1584 01:28:06,800 --> 01:28:09,120 Let's look at lastly, I'll say let's look at Ethereum. 1585 01:28:09,520 --> 01:28:14,080 Famously, Cat Purse Boy sold off billions of dollars of Ethereum 1586 01:28:14,080 --> 01:28:16,600 and it tells the world, well, hey, it's great financial 1587 01:28:16,680 --> 01:28:19,320 planning. Well hold on, if your protocol 1588 01:28:19,320 --> 01:28:23,120 is so great, why are you selling down your your Ethereum? 1589 01:28:23,120 --> 01:28:24,520 Like wouldn't you want to hold it? 1590 01:28:24,800 --> 01:28:28,440 Like, if you just think about it for any longer than two seconds, 1591 01:28:29,240 --> 01:28:32,480 at least that's for me, You realize that all of the other 1592 01:28:32,480 --> 01:28:34,880 stuff is garbage. Dude, there's no second. 1593 01:28:35,040 --> 01:28:36,440 Best. It's so great. 1594 01:28:36,440 --> 01:28:38,320 I'm selling it. Yeah. 1595 01:28:39,120 --> 01:28:44,200 What are you talking about? OK, so lastly let's talk about 1596 01:28:44,200 --> 01:28:47,480 the subject that is dear to your heart. 1597 01:28:47,480 --> 01:28:54,080 I think the broken incentives of our food and and like how that 1598 01:28:54,080 --> 01:28:57,640 how the how broken incentives wrecked our food and medicine. 1599 01:28:59,680 --> 01:29:05,360 Yes. So I'll give you the most 1600 01:29:05,360 --> 01:29:09,440 comprehensive but condensed version of my perspective. 1601 01:29:09,440 --> 01:29:12,240 There are my life story and why I have my perspective. 1602 01:29:12,240 --> 01:29:14,400 So I'll build the foundation and I'll share what my perspective 1603 01:29:14,400 --> 01:29:17,560 is now that I'm 39 years old and through the lens of Bitcoin, 1604 01:29:17,560 --> 01:29:21,760 developed trader understanding. So my parents divorced when I 1605 01:29:21,760 --> 01:29:23,600 was at a young age. I was five years old. 1606 01:29:23,600 --> 01:29:26,240 The reason that my parents divorced, I think partially was 1607 01:29:26,240 --> 01:29:31,520 due to societal struggles relative to the boom, bust 1608 01:29:31,520 --> 01:29:36,560 cycles within the economy as a result of the modern monetary 1609 01:29:36,560 --> 01:29:42,040 system that we have, the Keynesian economy and my mother 1610 01:29:42,040 --> 01:29:45,440 remarried to a psychiatrist, this guy's a doctorate degree, 1611 01:29:45,600 --> 01:29:49,480 no alcohol, no tobacco, upstanding individual. 1612 01:29:49,480 --> 01:29:53,040 My family's of, you know, was a classy, upstanding, productive 1613 01:29:53,040 --> 01:29:56,760 members of society. No physical abuse, no 1614 01:29:56,760 --> 01:29:58,960 molestation, no craziness, right? 1615 01:30:01,120 --> 01:30:03,760 My mother remarries a few years after, or actually quite quickly 1616 01:30:03,760 --> 01:30:07,240 after my parents divorce, she remarries a psychiatrist. 1617 01:30:07,240 --> 01:30:10,520 The psychiatrist works within the prison system in Southern 1618 01:30:10,520 --> 01:30:13,240 California and he prescribes pharmaceuticals to inmates 1619 01:30:13,240 --> 01:30:15,560 within the prison system. So he's prescribing all these 1620 01:30:15,560 --> 01:30:19,640 antipsychotics and anti anxiety and antidepressants and he's a 1621 01:30:19,640 --> 01:30:22,000 credible figure within our society. 1622 01:30:22,000 --> 01:30:24,280 Here's a doctor. And my mother ends up getting 1623 01:30:24,280 --> 01:30:27,880 into antidepressants. For 15 years of her life she 1624 01:30:27,880 --> 01:30:31,720 took antidepressants while she went back to school and received 1625 01:30:31,720 --> 01:30:35,680 a doctorate degree in sociology and became a professor of 1626 01:30:35,680 --> 01:30:39,000 sociology. And so my father, my biological 1627 01:30:39,000 --> 01:30:42,880 father, is a, is a structural engineer, licensed architect, 1628 01:30:42,880 --> 01:30:46,640 general contractor. So he draws, builds and does 1629 01:30:46,640 --> 01:30:49,200 nice houses, subdivides restaurants, commercial 1630 01:30:49,200 --> 01:30:52,120 buildings. Stepfather's a psychiatrist. 1631 01:30:52,120 --> 01:30:54,320 My mother's a doctorate degree in sociology. 1632 01:30:54,320 --> 01:30:57,040 So at a very young age, we had a lot of deep philosophical 1633 01:30:57,040 --> 01:31:00,200 conversations on our, like, family ski and snowboard trips. 1634 01:31:00,200 --> 01:31:02,680 And my dad, he's not a dummy. This guy's a successful 1635 01:31:02,680 --> 01:31:05,760 individual. And so my mother for 15 years 1636 01:31:05,760 --> 01:31:08,280 though, starts taking pharmaceutical pharmaceuticals. 1637 01:31:08,760 --> 01:31:14,080 Not like she's not into Oxycontin and snorting Klonopins 1638 01:31:14,120 --> 01:31:16,480 or doing crazy like things. She's just popping 1639 01:31:16,480 --> 01:31:18,680 antidepressants and anti anxiety. 1640 01:31:18,680 --> 01:31:21,520 And she goes to the she has her own psychiatrist She goes to and 1641 01:31:21,520 --> 01:31:23,600 hey, I don't feel good. Well let me give you this, blah 1642 01:31:23,640 --> 01:31:26,960 blah, blah. So in my early teens, I 1643 01:31:26,960 --> 01:31:29,760 discovered cannabis. Some of my friends were smoking 1644 01:31:29,760 --> 01:31:31,400 cannabis. I smoked some cannabis. 1645 01:31:31,400 --> 01:31:34,440 I'm like, wait a second, like, you know, this isn't some dirty, 1646 01:31:34,880 --> 01:31:36,960 this dingy drug. This is just a plant. 1647 01:31:36,960 --> 01:31:39,080 Like, why is this illegal? But all these crazy 1648 01:31:39,080 --> 01:31:42,360 pharmaceuticals are legal. Why is it you can go buy alcohol 1649 01:31:42,360 --> 01:31:44,280 and tobacco, but you can't buy cannabis? 1650 01:31:44,280 --> 01:31:48,640 And because of the deep philosophical conversations that 1651 01:31:48,640 --> 01:31:53,480 I was a part of as a result of my mother getting her doctorate 1652 01:31:53,480 --> 01:31:57,000 degree in sociology, I was, you know, I'm a 1012 year old while 1653 01:31:57,000 --> 01:31:58,880 she's writing her doctorate thesis. 1654 01:31:58,880 --> 01:32:00,520 And so we have these fun conversations. 1655 01:32:00,520 --> 01:32:04,520 As a family, I was primed to think outside the box and deeper 1656 01:32:04,520 --> 01:32:06,960 abstract, philosophical long term thoughts. 1657 01:32:07,440 --> 01:32:11,880 And I developed a big mistrust of for the system because it 1658 01:32:11,880 --> 01:32:14,480 just kind of there was just things didn't make sense and it 1659 01:32:14,480 --> 01:32:16,160 just, you know, started to question the system. 1660 01:32:16,160 --> 01:32:19,760 And then I started to get shunned and disliked you could 1661 01:32:19,760 --> 01:32:23,520 say by my teachers and parents, friends who said oh Eric, you're 1662 01:32:23,520 --> 01:32:25,400 so smart and you have all this potential. 1663 01:32:25,400 --> 01:32:28,440 Why are you into weed, you little dirty drug addict? 1664 01:32:28,440 --> 01:32:31,400 And like you know, I had an issue with the the school 1665 01:32:31,400 --> 01:32:33,040 system. Now I call them government 1666 01:32:33,040 --> 01:32:35,520 indoctrination camps. Like why am I going to have to 1667 01:32:35,760 --> 01:32:39,160 to go home and do a bunch of busy work when I can pass your 1668 01:32:39,160 --> 01:32:42,080 test? Give me the information, I'll I 1669 01:32:42,080 --> 01:32:44,280 will learn what I need to learn and then I'll come back and I'll 1670 01:32:44,280 --> 01:32:46,160 take the test. But you want me to go home and 1671 01:32:46,160 --> 01:32:49,920 spend all night long just doing busy work, like you can get 1672 01:32:49,920 --> 01:32:52,080 fucked. And so I essentially dropped out 1673 01:32:52,080 --> 01:32:54,840 of high school by the time I was a senior in high school, 1674 01:32:55,160 --> 01:32:58,600 developed an affinity for cannabis, no other drugs, you 1675 01:32:58,600 --> 01:33:01,120 know, And I just, you know, kind of started doing my own thing. 1676 01:33:01,680 --> 01:33:05,360 My mother ended up committing suicide at the age when I was 20 1677 01:33:05,360 --> 01:33:08,000 years old. The pharmaceuticals that she had 1678 01:33:08,000 --> 01:33:11,160 been taking for 15 years of her life didn't solve any of her 1679 01:33:11,160 --> 01:33:13,280 problems. And I used to tell people, like, 1680 01:33:13,280 --> 01:33:14,760 why? You know, I used to ask her, 1681 01:33:14,760 --> 01:33:16,120 like, why are you taking those pills? 1682 01:33:16,120 --> 01:33:21,480 You know, your ancestors 100,000 years ago that, like, lived in a 1683 01:33:21,480 --> 01:33:25,200 cave who went out to the forest and couldn't find food? 1684 01:33:25,480 --> 01:33:28,160 They didn't go back to The Cave and say, hey, I'm really 1685 01:33:28,160 --> 01:33:29,800 depressed because I didn't get any food today. 1686 01:33:29,800 --> 01:33:31,560 Let me just pop these fucking pills. 1687 01:33:31,920 --> 01:33:34,960 No, they did something to change their circumstances. 1688 01:33:35,240 --> 01:33:41,560 And so I developed an enormous inversion to this patented funny 1689 01:33:41,560 --> 01:33:44,400 like over prescribed pharmaceutical industrial 1690 01:33:44,400 --> 01:33:48,000 complex and as a result of losing my mother at a young age 1691 01:33:48,000 --> 01:33:51,040 and other family members died as a result of taking these 1692 01:33:51,040 --> 01:33:54,680 pharmaceuticals And it wasn't fentanyl, it wasn't Oxycontin. 1693 01:33:54,680 --> 01:33:58,280 Overdoses like these are people who who struggled at because 1694 01:33:58,280 --> 01:34:00,160 that the pills weren't solving their problems. 1695 01:34:00,440 --> 01:34:03,280 Now, I do think that technological advancement within 1696 01:34:03,280 --> 01:34:06,880 the medical industry has fixed things in our society, 1697 01:34:07,000 --> 01:34:10,640 antibiotics, so on and so forth, forth, But I developed a huge 1698 01:34:10,640 --> 01:34:12,960 mistrust and it drove me actually into the cannabis 1699 01:34:12,960 --> 01:34:14,880 industry at the age of 25 years old. 1700 01:34:14,880 --> 01:34:18,120 I'd been selling cars for the Toyota store for a couple years 1701 01:34:18,120 --> 01:34:20,440 in my early 20s I and it was a fun job. 1702 01:34:20,440 --> 01:34:23,160 I learned a lot about people and negotiating and whatever. 1703 01:34:23,160 --> 01:34:25,680 And it was an easy to sell Toyotas, because Toyotas sell 1704 01:34:25,680 --> 01:34:27,840 themselves and whatever. And someone invited me from 1705 01:34:27,840 --> 01:34:29,840 Southern California to Northern California. 1706 01:34:30,160 --> 01:34:33,520 A friend I went to high school with invited me to come up and 1707 01:34:33,520 --> 01:34:36,080 trim some cannabis because they knew I had an affinity for 1708 01:34:36,080 --> 01:34:38,320 cannabis and I took that opportunity. 1709 01:34:38,320 --> 01:34:39,680 I came up and I started trimming. 1710 01:34:39,720 --> 01:34:42,680 I trimmed for a season and I started working for the grower 1711 01:34:42,680 --> 01:34:45,760 the following year. I lived out in the woods in the 1712 01:34:45,760 --> 01:34:50,160 middle of nowhere by myself for two years with no cell phone and 1713 01:34:50,160 --> 01:34:53,720 no Internet service. It was at 262526 years old. 1714 01:34:53,720 --> 01:34:57,440 It was quite an interesting time of my life and so for me, I 1715 01:34:57,440 --> 01:35:00,120 wanted to see cannabis prohibition ended. 1716 01:35:00,480 --> 01:35:03,280 I wanted to put an end to that. I wanted to contribute in my 1717 01:35:03,280 --> 01:35:07,880 revolutionary way as the you to the big pharmaceutical 1718 01:35:07,880 --> 01:35:11,600 industrial complex that as far as I'm concerned had a hand in 1719 01:35:11,600 --> 01:35:13,200 killing some of my family members. 1720 01:35:13,440 --> 01:35:16,280 Every time I bag a pound and sell it into the marketplace. 1721 01:35:16,280 --> 01:35:19,880 It's a middle finger to what now I understand it is the Fiat 1722 01:35:19,880 --> 01:35:23,240 world. And thank you to Jeff Booth and 1723 01:35:23,240 --> 01:35:25,680 to Michael Saylor. I would give them the most 1724 01:35:25,680 --> 01:35:28,200 credit and then breed love and case in and all. 1725 01:35:28,200 --> 01:35:30,800 I can go down the list of just all of these, just epic 1726 01:35:30,920 --> 01:35:33,640 contributors to the Bitcoin knowledge base that I have been 1727 01:35:33,640 --> 01:35:37,160 Privy to. I understand now that as the 1728 01:35:38,000 --> 01:35:42,640 deflationary forces take place within the market, in order to 1729 01:35:42,640 --> 01:35:46,760 hedge yourself against prices falling to the marginal cost of 1730 01:35:46,760 --> 01:35:50,200 production, you either have to, you have to essentially build a 1731 01:35:50,200 --> 01:35:54,000 regulatory Moat around a sector within the marketplace. 1732 01:35:54,280 --> 01:35:57,240 You have to get a patent and be the only one who can produce 1733 01:35:57,240 --> 01:35:59,480 this thing. You have to keep your patients 1734 01:35:59,480 --> 01:36:02,240 sick and dependent upon the pharmaceuticals that you're 1735 01:36:02,240 --> 01:36:03,200 selling them. You can't. 1736 01:36:03,360 --> 01:36:07,040 It's like a a, a patient cured as a customer lost. 1737 01:36:07,240 --> 01:36:11,400 Well, that incentive is only because the expansion of the 1738 01:36:11,400 --> 01:36:15,560 monetary units, the Keynesian lie, the modern monetary trash 1739 01:36:15,560 --> 01:36:19,640 that we're being forced to use, means that the deflationary 1740 01:36:19,640 --> 01:36:23,320 forces, we push things prices down on things as we create 1741 01:36:23,520 --> 01:36:26,440 things more abundantly that the marketplace wants. 1742 01:36:26,680 --> 01:36:29,680 Paired with the inflationary forces in our monetary system 1743 01:36:29,680 --> 01:36:33,080 requiring prices to go up on everything, it means that some 1744 01:36:33,080 --> 01:36:36,160 margins are perpetually harder to make. 1745 01:36:36,920 --> 01:36:39,880 And in order to make those margins, you have to put the 1746 01:36:39,880 --> 01:36:44,160 proverbial knee on the neck of the marketplace and exploit 1747 01:36:44,160 --> 01:36:46,600 them. And so the exploitative nature 1748 01:36:46,600 --> 01:36:50,520 of the broken incentives within our monetary system killed part 1749 01:36:50,520 --> 01:36:53,200 of my family. As far as I'm concerned, it's 1750 01:36:53,200 --> 01:36:57,440 because this the the incentive is to figure out how to extract 1751 01:36:57,440 --> 01:37:02,280 perpetually more margin. And you know, Saylor says money 1752 01:37:02,280 --> 01:37:04,720 is economic energy. I think about that. 1753 01:37:04,720 --> 01:37:08,400 It's literally life force. So you have a broken paradigm, 1754 01:37:08,640 --> 01:37:12,560 which also stemmed from the physicality of gold was very 1755 01:37:12,560 --> 01:37:16,080 limited. One of the banking bloodlines, 1756 01:37:16,080 --> 01:37:18,280 great. You know guys, many many got a 1757 01:37:18,280 --> 01:37:21,600 couple, 100 years ago or whatever he this guy figured out 1758 01:37:21,600 --> 01:37:23,920 hey, I'm going to house the gold and I'm going to issue 1759 01:37:23,920 --> 01:37:27,200 certificates and it made sense to use the certificate and 1760 01:37:27,200 --> 01:37:30,320 travel to another country and buy land than to have to cart 1761 01:37:30,320 --> 01:37:32,720 your gold around because some guy will just prick you and 1762 01:37:32,720 --> 01:37:34,800 take. It in Amsterdam this was yes. 1763 01:37:34,800 --> 01:37:37,200 Yeah, so that made sense. Though that was a technological 1764 01:37:37,200 --> 01:37:38,520 advancement. We needed that. 1765 01:37:38,520 --> 01:37:40,240 It made sense. Well, that now because 1766 01:37:40,240 --> 01:37:44,160 everything pre Bitcoin has been pretty easily corruptible, LED 1767 01:37:44,160 --> 01:37:48,080 into a corrupted marketplace with a corrupted, broken 1768 01:37:48,080 --> 01:37:52,360 monetary system that's toxic. And so that creates a broken 1769 01:37:52,360 --> 01:37:54,000 incentive. The incentive is to figure out 1770 01:37:54,000 --> 01:37:56,720 how to extract more than I'll I'll kind of wrap it at this, 1771 01:37:56,720 --> 01:37:59,240 but a good example is, is there's two companies within the 1772 01:37:59,240 --> 01:38:03,080 states that have access to the patent to create insulin. 1773 01:38:03,440 --> 01:38:08,000 So insulin is very profitable. If we had a free market where 1774 01:38:08,000 --> 01:38:11,440 there wasn't a regulatory Moat built around that sector within 1775 01:38:11,440 --> 01:38:14,640 the marketplace, that's a huge economic incentive for 1776 01:38:14,640 --> 01:38:17,560 entrepreneurs and capital to flow into that sector of the 1777 01:38:17,560 --> 01:38:21,680 market to make a bunch of insulin making insulin really 1778 01:38:21,680 --> 01:38:24,040 cheap and abundant bringing its price down. 1779 01:38:24,280 --> 01:38:26,400 Well, I see. It's, it feels like I see a 1780 01:38:26,400 --> 01:38:30,280 story or hear something. Some kid who's 25 years old gets 1781 01:38:30,280 --> 01:38:34,280 dropped from his parents, medical insurance has been just 1782 01:38:34,880 --> 01:38:39,720 poisoned and gas lit and lied to with the food pyramid and all 1783 01:38:39,720 --> 01:38:42,320 the sugar and all the garbage that they've been eating. 1784 01:38:42,480 --> 01:38:45,600 So now they have a they're they're diabetic. 1785 01:38:45,600 --> 01:38:47,800 They can't store fat. They can't, they can't. 1786 01:38:47,800 --> 01:38:49,320 Their body doesn't function properly. 1787 01:38:49,360 --> 01:38:51,400 They're dependent upon this insulin. 1788 01:38:51,400 --> 01:38:55,000 So you got this food industrial complex that's just getting paid 1789 01:38:55,000 --> 01:38:57,400 to just wreck people. You got the medical industrial 1790 01:38:57,400 --> 01:39:00,840 complex getting paid to just keep fucking keep them alive. 1791 01:39:00,840 --> 01:39:03,120 Barely. They get dropped from their 1792 01:39:03,120 --> 01:39:06,560 parents insurance and they can't afford insulin and they're dying 1793 01:39:07,040 --> 01:39:09,880 so that the insulin is very profitable and people need it to 1794 01:39:09,880 --> 01:39:13,200 live Well that would be a huge incentive for entrepreneurs to 1795 01:39:13,200 --> 01:39:15,080 produce insulin. But they can't because there's a 1796 01:39:15,080 --> 01:39:18,240 regulatory Moat built around it because the companies that. 1797 01:39:18,240 --> 01:39:20,680 And so here's the and I'll this is, I'll segue into one last 1798 01:39:20,680 --> 01:39:23,120 thing that's just so epically beautiful about Bitcoin. 1799 01:39:23,960 --> 01:39:28,320 The board of directors of these companies like Nestle that's 1800 01:39:28,320 --> 01:39:31,400 going to go drill a well in some impoverished part of the world. 1801 01:39:31,400 --> 01:39:34,040 And instead of giving the water to the people who don't have 1802 01:39:34,040 --> 01:39:37,920 clean water that are dying from basic diseases and bathing and 1803 01:39:38,000 --> 01:39:41,160 drinking water out of the streets, instead of giving water 1804 01:39:41,160 --> 01:39:43,120 to help these people, they're selling water to people who 1805 01:39:43,120 --> 01:39:47,040 don't even have any money. Instead of, instead of that at 1806 01:39:47,040 --> 01:39:49,680 the end of the year. Well, OK, because these people, 1807 01:39:49,680 --> 01:39:51,520 these corporations are made-up of people. 1808 01:39:51,520 --> 01:39:54,560 It's like Jeff who says there is no they, it's just us. 1809 01:39:54,560 --> 01:39:57,520 It's made-up of people that are serving their self-interest and 1810 01:39:57,520 --> 01:39:59,960 they have a fiduciary responsibility to provide 1811 01:39:59,960 --> 01:40:01,720 shareholder value. They want to keep their 1812 01:40:01,720 --> 01:40:04,080 earnings, their cash flows, their corporations successful in 1813 01:40:04,080 --> 01:40:06,320 a marketplace where there's all this competition. 1814 01:40:07,120 --> 01:40:10,160 And so because of the accounting changes at the end of the year. 1815 01:40:10,680 --> 01:40:13,800 The path of least resistance, the most energy efficient way to 1816 01:40:13,800 --> 01:40:17,200 get the most because of the game theory is this for these 1817 01:40:17,200 --> 01:40:21,000 corporations to sweep their surplus in the Bitcoin instead 1818 01:40:21,000 --> 01:40:24,640 of perpetually exploiting. And that's a big deal. 1819 01:40:24,640 --> 01:40:29,080 So now that Trojan horse of freedom and abundance for all is 1820 01:40:29,200 --> 01:40:31,680 in the castle. And here's the letter. 1821 01:40:31,720 --> 01:40:33,840 They dive into that, dive into that wait. 1822 01:40:34,560 --> 01:40:40,160 So what you say is they have all this excess capital by basically 1823 01:40:40,160 --> 01:40:46,280 abusing humans in a whatever way that is their incentive, right? 1824 01:40:46,520 --> 01:40:49,520 Yep. But now you say like there's 1825 01:40:49,720 --> 01:40:57,240 there's an alternative solution. So instead of actually helping 1826 01:40:57,240 --> 01:41:03,440 the inflationary forces by keeping the food bad, by not 1827 01:41:03,440 --> 01:41:07,600 allowing people to have certain innovations on certain drugs, 1828 01:41:07,600 --> 01:41:10,440 for example, what you mentioned about, you know, the access to 1829 01:41:10,440 --> 01:41:13,480 insulin. I say like because there is 1830 01:41:13,480 --> 01:41:18,960 another, a better way to keep the value of the cash that you 1831 01:41:18,960 --> 01:41:23,200 generated through this, you know, malign business. 1832 01:41:23,200 --> 01:41:31,760 Basically, their incentives get switched, so they actually go 1833 01:41:31,760 --> 01:41:35,400 from a short short time preference, right? 1834 01:41:36,040 --> 01:41:38,880 Yep. Abusing, consuming, abusing 1835 01:41:39,560 --> 01:41:43,000 other energy from other humans to a long time. 1836 01:41:43,800 --> 01:41:45,040 Long time? Yeah, exactly. 1837 01:41:45,040 --> 01:41:48,000 To a long time preference. Which is basically saving the 1838 01:41:48,000 --> 01:41:49,760 value they already have in Bitcoin. 1839 01:41:49,760 --> 01:41:50,840 That's what you're saying, right? 1840 01:41:51,360 --> 01:41:53,240 Yeah. And so let's look at Saylor with 1841 01:41:53,240 --> 01:41:55,560 MicroStrategy. You got a fiscally responsible 1842 01:41:55,560 --> 01:41:58,760 conservative individual who has $500 million on the balance 1843 01:41:58,760 --> 01:42:00,400 sheet. COVID hits the government, now 1844 01:42:00,400 --> 01:42:02,280 starts to basing the currency at hyper rate. 1845 01:42:02,280 --> 01:42:04,240 He knows he has an existential crisis. 1846 01:42:04,600 --> 01:42:07,000 If you're a publicly traded corporation and you're in his 1847 01:42:07,000 --> 01:42:10,160 position with a surplus, you can essentially do three things. 1848 01:42:10,360 --> 01:42:13,400 You can buy back your own shares, you can buy shares in 1849 01:42:13,400 --> 01:42:17,360 another company, or you can pay out that surplus in the form of 1850 01:42:17,360 --> 01:42:20,480 a dividend, or you can convert it to a property, gold, 1851 01:42:20,480 --> 01:42:25,240 whatever, right? And so a commodity the most the 1852 01:42:25,240 --> 01:42:28,800 way to get the most is is to take that surplus and buy 1853 01:42:28,800 --> 01:42:30,800 Bitcoin. Now because you're the the 1854 01:42:30,800 --> 01:42:34,240 appreciation that takes place on your balance sheet is happens at 1855 01:42:34,240 --> 01:42:38,560 such a fast rate that you're providing the most, the most 1856 01:42:38,560 --> 01:42:42,720 shareholder value by stacking the SAT's than you are by either 1857 01:42:42,720 --> 01:42:45,400 getting gobbled up by a bit. He could have sold all of the 1858 01:42:45,400 --> 01:42:48,280 shares within, he could just sold the company to Microsoft, 1859 01:42:48,280 --> 01:42:50,400 been consolidated and rolled up right. 1860 01:42:50,400 --> 01:42:54,880 And so you the pre Bitcoin the strategy is is become the 1861 01:42:54,880 --> 01:42:58,720 biggest fish or become gobbled, gobbled up by the biggest fish 1862 01:42:59,080 --> 01:43:02,120 and take an exit position that's large enough that allows you to 1863 01:43:02,120 --> 01:43:06,160 become a concilionaire and live off of the equity that is found 1864 01:43:06,160 --> 01:43:09,320 as the result of the depreciation of the currency or 1865 01:43:09,320 --> 01:43:10,720 the expansion of the currency units. 1866 01:43:11,400 --> 01:43:16,120 And now corporations are incentivized to get the most, to 1867 01:43:16,120 --> 01:43:19,160 provide the most shareholder value come the end of the year 1868 01:43:19,280 --> 01:43:21,680 to stack SATS. And that is also a 1869 01:43:21,760 --> 01:43:26,200 decentralizing force and not a centralizing force. 1870 01:43:26,200 --> 01:43:30,240 Because also, if you're a corporation and your valuation 1871 01:43:30,240 --> 01:43:34,360 goes up, you're incentivized to go leverage your valuation in 1872 01:43:34,360 --> 01:43:37,200 the form of taking on more debts and going and buying. 1873 01:43:37,200 --> 01:43:40,360 I don't know, more warehouses like Amazon is doing. 1874 01:43:40,400 --> 01:43:44,400 And the in sailor's case, he's destroyed the paradigm. 1875 01:43:44,520 --> 01:43:47,760 All your models are destroyed. He's created a feedback loop 1876 01:43:47,760 --> 01:43:50,280 where as he keeps stacking Bitcoin, the value of his 1877 01:43:50,280 --> 01:43:52,440 company keeps going up. They have to, because of 1878 01:43:52,440 --> 01:43:55,920 fractional reserve lending, keep lending more shitty Fiat into 1879 01:43:55,920 --> 01:43:58,200 the marketplace. He goes to the banks and goes, 1880 01:43:58,200 --> 01:44:00,320 hey guys, I'm a fiscally responsible guy. 1881 01:44:00,320 --> 01:44:02,400 We got a cash flow, pass it over here. 1882 01:44:02,800 --> 01:44:04,600 They do. They keep loaning the money and 1883 01:44:04,600 --> 01:44:07,040 he keeps put it into bitcoins like you fucking dummies. 1884 01:44:07,360 --> 01:44:09,560 And then the value of his company keeps going up and he 1885 01:44:09,560 --> 01:44:12,440 keeps borrowing more Bitcoin and more money and buying more 1886 01:44:12,440 --> 01:44:14,720 Bitcoin. And so he's going to own the 1887 01:44:14,720 --> 01:44:17,760 fucking whole world if these other corporations don't start 1888 01:44:17,760 --> 01:44:21,280 doing it. And that's exciting, because now 1889 01:44:21,280 --> 01:44:24,200 instead of Nestle going and drilling a well in some town in 1890 01:44:24,200 --> 01:44:27,080 Africa and selling these people who have barely any money water, 1891 01:44:27,080 --> 01:44:32,080 they're going to stack SAT's and then So it's just such a big 1892 01:44:32,080 --> 01:44:34,440 deal, man. Bitcoin is such a big deal. 1893 01:44:34,440 --> 01:44:37,160 And the more and more I think about it, the more and more 1894 01:44:37,160 --> 01:44:40,160 enthralled I become. The more excited I get, the less 1895 01:44:40,160 --> 01:44:43,160 depressed or less worried or less concerned I am. 1896 01:44:44,120 --> 01:44:47,200 And we're grateful that I am. I'm bursting at the seams with 1897 01:44:47,240 --> 01:44:50,400 motherfucker gratitude, dude, this is such a special thing. 1898 01:44:50,400 --> 01:44:52,800 It's so precious, dude, I can barely believe it. 1899 01:44:53,400 --> 01:44:57,000 Yeah. What I love is that I hope we 1900 01:44:57,000 --> 01:45:01,560 can get also this opportunity to fix like that broken food and 1901 01:45:01,720 --> 01:45:04,800 the fix those medicines, right. I love the example that you have 1902 01:45:04,800 --> 01:45:08,760 and I use that a lot as well. The the deflationary force of 1903 01:45:08,760 --> 01:45:12,040 technology, right, right. That will push prices down. 1904 01:45:12,280 --> 01:45:15,000 I think nobody can argue against that, right. 1905 01:45:15,000 --> 01:45:18,080 Like rationally that's a great thought, like the more 1906 01:45:18,080 --> 01:45:22,200 technology improves, the more prices fall to the to the margin 1907 01:45:22,840 --> 01:45:24,880 marginal cost of production, right. 1908 01:45:25,000 --> 01:45:31,120 So then I always ask this question, why did a bread cost 1909 01:45:31,120 --> 01:45:35,800 $0.25 and it's now $4.00 or $5? That doesn't make sense. 1910 01:45:35,880 --> 01:45:39,800 It should actually be free. It should be like, you know, in 1911 01:45:39,800 --> 01:45:44,920 this like sci-fi show or we had, we had a show here where people 1912 01:45:44,920 --> 01:45:49,080 had like, like a like a pill and they would put in the water and 1913 01:45:49,080 --> 01:45:50,800 it would pop out as a bread, right? 1914 01:45:50,800 --> 01:45:54,000 Like we should be there and it should borrowing for everyone 1915 01:45:54,040 --> 01:45:56,200 and it should be like nutritious, it should even be 1916 01:45:56,200 --> 01:45:58,080 better than the bread of 40 years ago. 1917 01:45:58,080 --> 01:46:02,120 But currently we have 4-4 or $5 or euro breads that are 1918 01:46:02,120 --> 01:46:05,960 nutritionally probably worse than the breads of 40 or 50 1919 01:46:05,960 --> 01:46:08,600 years ago, right? So we are basically going back 1920 01:46:08,880 --> 01:46:11,360 in time and why are we going back in time? 1921 01:46:11,360 --> 01:46:14,720 Because this deflationary technology force is battling the 1922 01:46:14,720 --> 01:46:19,520 inflationary money and that is what the money does. 1923 01:46:19,520 --> 01:46:25,680 The money removes the incentives to actually innovate to make it 1924 01:46:25,680 --> 01:46:28,800 better. Because it, it flips, it gives 1925 01:46:28,800 --> 01:46:33,320 you perverse incentives to abuse the position that you already 1926 01:46:33,320 --> 01:46:35,920 have, right as you, as you just mentioned with Nestle, for 1927 01:46:35,960 --> 01:46:38,880 example. And so, yeah, I think that is 1928 01:46:38,880 --> 01:46:42,720 like a that's a very good illustration and also 1929 01:46:42,720 --> 01:46:46,680 explanation that you can use to explain to people, because most 1930 01:46:46,680 --> 01:46:49,960 people do think it's weird that it's funny that we joke about 1931 01:46:49,960 --> 01:46:52,760 the bread was $0.25, right? Yeah, yeah. 1932 01:46:53,200 --> 01:46:55,320 And then if someone says, well, everything becomes more 1933 01:46:55,320 --> 01:46:57,880 expensive, then you can ask, well, why? 1934 01:46:57,880 --> 01:47:02,400 Like give you a logical explanation of, you know, why? 1935 01:47:02,600 --> 01:47:05,760 Why is that? So those those those things I 1936 01:47:05,760 --> 01:47:09,520 think anyone can eventually understand, like you can use 1937 01:47:09,520 --> 01:47:11,760 that to break it down. Kind of long and hard though, 1938 01:47:11,760 --> 01:47:15,760 like I had to wire new neuro pathways to understand it 1939 01:47:15,760 --> 01:47:17,800 because it's a new way of looking at the world. 1940 01:47:17,800 --> 01:47:21,240 And you're you don't understand necessarily until you think 1941 01:47:21,240 --> 01:47:24,400 about those two opposing forces. Those two opposing forces mean 1942 01:47:24,400 --> 01:47:27,440 that your margins are perpetually harder to make. 1943 01:47:27,880 --> 01:47:31,320 Your cost of living is going up denominated in dollars, but 1944 01:47:31,320 --> 01:47:33,240 you're experiencing wage deflation. 1945 01:47:33,680 --> 01:47:36,480 As a producer of anything, you just have different flavors of 1946 01:47:36,480 --> 01:47:38,360 the same thing. So you're incentivized to either 1947 01:47:38,360 --> 01:47:42,560 monopolize and exploits or shouldify whatever it is that 1948 01:47:42,560 --> 01:47:45,320 you're making, and Bitcoin inverts that. 1949 01:47:45,320 --> 01:47:48,640 And that's it's just a really big deal. 1950 01:47:48,640 --> 01:47:51,480 Like I I tell people two things when they're say, hey, you know 1951 01:47:51,480 --> 01:47:56,040 what the the plundering psychopathic entities, you could 1952 01:47:56,040 --> 01:47:59,200 say are just going to continue to plunder in perpetuity 1953 01:47:59,200 --> 01:48:00,800 forever. And they don't understand what 1954 01:48:00,800 --> 01:48:02,520 we've discovered incorruptibility. 1955 01:48:02,520 --> 01:48:03,600 Well, I'll ask them this question. 1956 01:48:03,600 --> 01:48:05,360 Why don't we live in the Roman Empire? 1957 01:48:05,720 --> 01:48:07,360 Like, why is it we live in the States? 1958 01:48:07,440 --> 01:48:09,360 Why is it the United States? Why are you in California? 1959 01:48:09,360 --> 01:48:11,800 Why are we in Texas? Why why don't we live in Rome? 1960 01:48:11,800 --> 01:48:14,680 Why didn't Rome just take over the whole world and then just 1961 01:48:14,680 --> 01:48:17,160 run the whole world? Because the business model isn't 1962 01:48:17,160 --> 01:48:20,040 sustainable. Because that centralizing force 1963 01:48:20,080 --> 01:48:23,720 of debasing to fund your plunder eventually breaks. 1964 01:48:23,960 --> 01:48:26,960 Another thing that I'll ask people is, is why is it that a 1965 01:48:26,960 --> 01:48:30,280 house that you live in or that you just bought that's 50 years 1966 01:48:30,280 --> 01:48:33,600 old that's shitty and has asbestos ceiling and needs to 1967 01:48:33,600 --> 01:48:35,360 have a roof replaced all the time? 1968 01:48:35,360 --> 01:48:39,880 Why is it that that house cost 10X20X what it did 50 years ago? 1969 01:48:40,880 --> 01:48:44,240 It's because the value of the house is denominated and another 1970 01:48:44,240 --> 01:48:48,040 variable, a moving metric, a dollar, which is losing its 1971 01:48:48,040 --> 01:48:50,400 value so fast. It's creating the optical 1972 01:48:50,400 --> 01:48:54,440 illusion of price appreciation or value appreciation. 1973 01:48:54,680 --> 01:48:58,280 Your house is losing value like your used car is. 1974 01:48:58,720 --> 01:49:00,960 You just can't see it because there's an optical illusion 1975 01:49:00,960 --> 01:49:03,520 taking place. So while people have like I love 1976 01:49:03,520 --> 01:49:05,440 how Sailor broke it down in Bitcoin Prague. 1977 01:49:06,160 --> 01:49:08,520 He says that essentially if you have paid for real estate, let's 1978 01:49:08,520 --> 01:49:12,360 say you have $1,000,000 piece of property, it costs on average 1% 1979 01:49:12,360 --> 01:49:14,760 of the value of the property annually to maintain the 1980 01:49:14,760 --> 01:49:16,160 property. And if you live in a 1981 01:49:16,160 --> 01:49:21,400 jurisdiction with 1% real estate tax, you're losing 2% of the 1982 01:49:21,400 --> 01:49:22,920 value of the property every year. 1983 01:49:22,920 --> 01:49:26,200 If you equate that to a half life, you have a 35 year half 1984 01:49:26,200 --> 01:49:30,240 life, you lose half of the value of the paid $4 million property 1985 01:49:30,240 --> 01:49:32,840 over 35 years. People just don't see it though, 1986 01:49:32,840 --> 01:49:34,800 because they think they're getting wealthier and they are 1987 01:49:34,800 --> 01:49:36,880 if you denominate their wealth and dollars. 1988 01:49:37,120 --> 01:49:39,800 But if you look at how many dollars they have relative, how 1989 01:49:39,800 --> 01:49:42,480 many dollars are within the system, they're actually getting 1990 01:49:42,520 --> 01:49:44,800 poorer. And so that's why if you have 1991 01:49:44,800 --> 01:49:48,360 one out of 21 million you can depend upon. 1992 01:49:48,560 --> 01:49:52,320 It's also it's a it's a constant within a world full of nothing 1993 01:49:52,320 --> 01:49:55,240 but variables. It like allows us, in this very 1994 01:49:55,240 --> 01:49:59,040 abstract kind of way, to solve for something you've never been 1995 01:49:59,040 --> 01:50:00,960 able to solve forever in all of known history. 1996 01:50:02,000 --> 01:50:05,920 Yeah, I love it, man. Yeah, that's awesome, man. 1997 01:50:05,920 --> 01:50:07,400 I love it too. All right. 1998 01:50:07,400 --> 01:50:09,560 Last last part and then we can wrap it up. 1999 01:50:09,560 --> 01:50:11,880 Almost two hours, man. This has been really. 2000 01:50:11,880 --> 01:50:14,840 Fun man. Yeah man, We had over 1000 2001 01:50:14,840 --> 01:50:17,120 viewers on the live on Twitter, so that's fun. 2002 01:50:17,120 --> 01:50:18,880 Incredible. Oh my goodness. 2003 01:50:18,880 --> 01:50:21,320 Thank you to. All of everybody who watches, by 2004 01:50:21,320 --> 01:50:22,240 the way, Yeah. Awesome. 2005 01:50:24,560 --> 01:50:29,080 Last last topic is someone sent this on Twitter. 2006 01:50:29,600 --> 01:50:31,840 Can you talk a bit about the synergy between Bitcoin and 2007 01:50:31,840 --> 01:50:34,400 cannabis and how each could benefit the other in the long 2008 01:50:34,400 --> 01:50:36,280 run? Yeah. 2009 01:50:36,280 --> 01:50:41,240 So I think it ties into the incentive, the broken incentives 2010 01:50:41,240 --> 01:50:44,680 to where it's because of the Fiat paradigm where your margins 2011 01:50:44,680 --> 01:50:47,280 are perpetually harder to make. It's the shootification of 2012 01:50:47,280 --> 01:50:49,920 everything. It's like read Jimmy Bong songs, 2013 01:50:49,920 --> 01:50:52,760 book Fiat ruins everything because your margins are harder 2014 01:50:52,760 --> 01:50:53,720 to make. Because we live in a 2015 01:50:53,720 --> 01:50:55,600 fundamentally deflationary world. 2016 01:50:55,600 --> 01:50:58,920 That means that you have to do unethical things to success, 2017 01:50:58,920 --> 01:51:03,280 succeed, essentially. It creates this sociopathology 2018 01:51:03,280 --> 01:51:07,040 or something. It's like, yeah, just breaks the 2019 01:51:07,040 --> 01:51:09,960 brain of some people or the people who are willing to 2020 01:51:09,960 --> 01:51:13,840 plunder, become the people who get the most within the 2021 01:51:13,840 --> 01:51:15,800 marketplace. They have to build a regulatory 2022 01:51:15,800 --> 01:51:20,280 Moat around some sector in the marketplace and it and it 2023 01:51:20,280 --> 01:51:24,000 incentivizes people to create some cheap, shitty widget. 2024 01:51:24,000 --> 01:51:28,200 It incentivizes planned obsolescence where you're you're 2025 01:51:28,480 --> 01:51:31,880 a corporation and you make a widget and you're planning on 2026 01:51:31,880 --> 01:51:34,760 that widget failing so that other people can, so that your 2027 01:51:34,760 --> 01:51:37,720 customers can continue to come back and buy more and buy more. 2028 01:51:38,360 --> 01:51:43,080 And so with cannabis, I think cannabis is a very powerful 2029 01:51:43,080 --> 01:51:46,760 medicinal herb. It's one of the most powerful 2030 01:51:46,760 --> 01:51:50,400 herbs, most powerful medicines on the planet, both spiritually, 2031 01:51:50,400 --> 01:51:53,200 emotionally and physically. I've been doing this for 15 2032 01:51:53,200 --> 01:51:54,400 years. I'm in Humboldt County. 2033 01:51:54,640 --> 01:51:57,800 I can't even tell you how many people and how many stories I've 2034 01:51:57,800 --> 01:52:00,920 heard of people using cannabis oil and they've healed stage 4 2035 01:52:00,920 --> 01:52:04,240 cancers, cannabis. There are constituents and 2036 01:52:04,240 --> 01:52:08,000 molecules within that the cannabis plant produces that 2037 01:52:08,000 --> 01:52:11,880 perform a process called apoctosis, which essentially 2038 01:52:11,880 --> 01:52:16,320 that molecule can go into a cancer cell, it can penetrate 2039 01:52:16,320 --> 01:52:20,200 the cell membrane barrier, it can kill the cancer cell without 2040 01:52:20,200 --> 01:52:22,640 damaging healthy cells around it. 2041 01:52:22,640 --> 01:52:24,920 So it's kind of like the opposite of chemotherapy, where 2042 01:52:24,920 --> 01:52:28,000 chemotherapy can kill a cancer cell, but it's kind of like 2043 01:52:28,000 --> 01:52:31,560 dropping a nuclear bomb on an area where you essentially kill 2044 01:52:31,560 --> 01:52:34,640 everything. And people who take chemotherapy 2045 01:52:34,640 --> 01:52:39,520 become very, very sick and then they will kill the cancer and 2046 01:52:39,520 --> 01:52:43,040 then they have to recover from this essentially just mass 2047 01:52:43,440 --> 01:52:48,720 extermination of all the biology that lives on us and within us. 2048 01:52:48,720 --> 01:52:51,400 And it damages healthy cells including and sometimes it 2049 01:52:51,400 --> 01:52:52,760 doesn't even kill the cancer cells. 2050 01:52:53,440 --> 01:52:57,560 So there is some some special things there with cannabis that 2051 01:52:57,560 --> 01:53:00,200 I think over time. And also there's this monetary 2052 01:53:00,200 --> 01:53:02,880 incentive as the government's become more broke because it's a 2053 01:53:02,880 --> 01:53:07,080 government debases its currency, it makes its operating cost goes 2054 01:53:07,080 --> 01:53:10,440 up requiring either further taxation or further debasement. 2055 01:53:10,440 --> 01:53:12,040 So it creates this broken feedback loop. 2056 01:53:12,680 --> 01:53:15,720 And so kind of where I feel like Bitcoin is this Trojan horse 2057 01:53:16,040 --> 01:53:18,360 that everybody who's economically and every 2058 01:53:18,360 --> 01:53:21,760 challenged entity or every entity that's economically 2059 01:53:21,760 --> 01:53:23,560 challenged is going to bring this in. 2060 01:53:24,080 --> 01:53:26,680 I think the United States government is also going to 2061 01:53:27,200 --> 01:53:30,560 reschedule and decriminalize or legalize cannabis because 2062 01:53:30,560 --> 01:53:32,520 they're broken. They need the tax revenue. 2063 01:53:32,920 --> 01:53:36,800 And also so then that like, I don't know, cannabis too, for me 2064 01:53:36,800 --> 01:53:42,040 it really brings brings me into a state of being really present. 2065 01:53:42,720 --> 01:53:45,760 And I think that we get really bombarded with all these 2066 01:53:45,760 --> 01:53:48,680 stressors and things in our life that cause us to be too worried 2067 01:53:48,680 --> 01:53:51,400 about the future. And you're very anxiety ridden, 2068 01:53:51,400 --> 01:53:54,200 you're too concerned about the past and you're really guilt 2069 01:53:54,200 --> 01:53:57,960 ridden and I blah blah blah. Cannabis has this meditative 2070 01:53:58,240 --> 01:53:59,720 state. And I think that that helps 2071 01:53:59,720 --> 01:54:01,640 people emotionally and spiritually. 2072 01:54:01,960 --> 01:54:04,800 It's kind of very it's recalibrating in some 2073 01:54:04,800 --> 01:54:08,640 interesting way. And so I think the ethos within 2074 01:54:08,640 --> 01:54:13,040 cannabis is very similar to the ethos within Bitcoin, where it's 2075 01:54:13,040 --> 01:54:16,480 essentially something that the world wants that you can't stop. 2076 01:54:16,480 --> 01:54:18,760 How do you stop people from growing this plant that you 2077 01:54:18,760 --> 01:54:21,280 could just sprout from this little, teeny little seed, 2078 01:54:21,280 --> 01:54:22,800 right. How do you stop people from 2079 01:54:22,800 --> 01:54:26,240 wanting to fair and open and decentralized protocol, a form 2080 01:54:26,240 --> 01:54:28,960 of property that nobody can violate, confiscate the base, 2081 01:54:29,480 --> 01:54:31,520 etcetera. But I think there's a lot of 2082 01:54:31,880 --> 01:54:35,760 parallels there. But I think yeah just the the 2083 01:54:36,160 --> 01:54:40,480 broke state of the government and the banking system is going 2084 01:54:40,480 --> 01:54:43,600 to is bringing solvency in by stacking sats. 2085 01:54:43,760 --> 01:54:46,280 That's how you're gonna get the most and I think that the the 2086 01:54:46,280 --> 01:54:48,720 need for because you can if you're the government you can 2087 01:54:48,880 --> 01:54:52,560 get funded in two ways through taxes or through debasements. 2088 01:54:52,760 --> 01:54:55,120 It's both a form of property confiscation. 2089 01:54:55,320 --> 01:54:58,720 Both of those are an incentive to bring cannabis out of 2090 01:54:58,720 --> 01:55:02,440 prohibition and then bring the freedom virus which is Bitcoin 2091 01:55:02,440 --> 01:55:06,560 into the into the castle skates. And I think that both of those 2092 01:55:06,560 --> 01:55:09,080 things are good for people who want them. 2093 01:55:09,120 --> 01:55:11,160 Also if you're not into cannabis, you don't like 2094 01:55:11,160 --> 01:55:12,120 cannabis. Fair enough. 2095 01:55:12,120 --> 01:55:14,040 That's all cool. Don't go pop pills, drink 2096 01:55:14,040 --> 01:55:16,160 alcohol. Do whatever you've whatever 2097 01:55:16,160 --> 01:55:19,080 feeds your existence and makes you feel good. 2098 01:55:19,080 --> 01:55:21,120 As long as it's not harming others, I think you should have 2099 01:55:21,120 --> 01:55:23,840 the right to do it. And so both of them, as far as 2100 01:55:23,840 --> 01:55:31,000 I'm concerned, and embody this error of freedom and a freedom 2101 01:55:31,000 --> 01:55:34,160 to express and experience what you want with this existence 2102 01:55:34,160 --> 01:55:36,240 which is so precious and so special. 2103 01:55:36,240 --> 01:55:39,600 And I think that it is unfair, unethical for some centralized 2104 01:55:39,600 --> 01:55:42,640 corrupted authority to tell you what you can do or not do if 2105 01:55:42,640 --> 01:55:48,880 it's not harming other people. So yeah, that's an epic ending. 2106 01:55:50,360 --> 01:55:53,120 Yeah man. Well, I'm just so grateful to 2107 01:55:53,160 --> 01:55:55,680 have had this conversation. I really enjoyed talking with. 2108 01:55:55,680 --> 01:55:59,120 I enjoyed our time in Madeira it. 2109 01:55:59,400 --> 01:56:04,040 Was so fun, It was so good. And again, I I said this on 2110 01:56:04,040 --> 01:56:07,760 another podcast actually on the high hash rate guys, but the 2111 01:56:07,760 --> 01:56:09,880 high hash rate guys. Shout out to those guys, I love 2112 01:56:09,880 --> 01:56:11,200 those. Guys, yeah, yeah, totally. 2113 01:56:11,840 --> 01:56:17,560 Anyone who is into Bitcoin, how much doesn't really matter. 2114 01:56:17,560 --> 01:56:20,280 Like I would invite everyone to join. 2115 01:56:20,280 --> 01:56:23,480 Like a real life event. Meet other people. 2116 01:56:23,720 --> 01:56:28,400 You can go alone. I flew alone to to an island. 2117 01:56:28,680 --> 01:56:31,920 You know. Like you will meet other people 2118 01:56:31,920 --> 01:56:36,880 that are into the same thing and they will challenge you to share 2119 01:56:36,880 --> 01:56:39,200 your thinking and your ideas and you will have amazing 2120 01:56:39,200 --> 01:56:41,600 conversations. Like the the entire energy is so 2121 01:56:41,600 --> 01:56:44,720 much fun. And I think it's palpable to 2122 01:56:45,120 --> 01:56:51,840 also feel and realize that this is a huge thing that connects 2123 01:56:51,840 --> 01:56:54,400 people all around the world. So it was awesome seeing you. 2124 01:56:55,000 --> 01:56:56,800 It was awesome having this conversation. 2125 01:56:56,800 --> 01:56:58,680 We'll definitely do this again in the future. 2126 01:56:58,920 --> 01:57:02,160 And yeah, thanks so much, buddy. I loved it. 2127 01:57:02,160 --> 01:57:04,920 Yeah, thank you. And shout out and thank you to 2128 01:57:04,920 --> 01:57:08,520 all the people watching the live stream and I, you know, at all 2129 01:57:08,520 --> 01:57:12,320 my followers, I'm kind of in a little bit of disbelief. 2130 01:57:12,760 --> 01:57:17,680 My Bitcoin journey here, I just, I don't know, so grateful for 2131 01:57:17,880 --> 01:57:19,360 everybody. So thank you. 2132 01:57:19,440 --> 01:57:22,400 Just, we're just dudes. We're just sharing. 2133 01:57:22,520 --> 01:57:25,240 Yeah, whatever. We're experiencing and thinking. 2134 01:57:25,240 --> 01:57:27,800 And I think you're doing an amazing job, man. 2135 01:57:27,800 --> 01:57:29,720 You're an inspiration to me. So thanks again. 2136 01:57:29,720 --> 01:57:32,040 And yeah, same to you. Let's talk soon. 2137 01:57:32,360 --> 01:57:33,480 Cheers man. Yes, yes. 2138 01:57:33,760 --> 01:57:36,560 I hope you enjoyed this episode. If you did, it would be amazing 2139 01:57:36,560 --> 01:57:39,400 if you could rate, review and subscribe on the podcast 2140 01:57:39,400 --> 01:57:42,360 platform of your choice. It will help us educate more 2141 01:57:42,360 --> 01:57:44,440 millennials on the importance of Bitcoin. 2142 01:57:44,720 --> 01:57:46,480 You can follow and connect with me on Twitter. 2143 01:57:46,480 --> 01:57:51,120 I'm Bram K That's at BR AM K and if you are or know someone who 2144 01:57:51,120 --> 01:57:53,720 has an interesting perspective on Bitcoin that's worth sharing, 2145 01:57:53,720 --> 01:57:56,000 hit me up. I read and reply to every single 2146 01:57:56,000 --> 01:57:57,920 message. I appreciate your support and 2147 01:57:57,920 --> 01:57:59,560 hope you'll be here for the next episode. 2148 01:57:59,880 --> 01:58:01,160 Thanks for listening. Bye.