1 00:00:00,160 --> 00:00:01,160 All right. Hey there. 2 00:00:01,160 --> 00:00:03,840 This is Bram Constein and you're listening to Bitcoin for 3 00:00:03,840 --> 00:00:06,640 Millennials. Together with my guests on this 4 00:00:06,640 --> 00:00:09,280 podcast, I go on a journey to discover how our current 5 00:00:09,280 --> 00:00:12,560 financial system works, why it's flawed, and why Bitcoin is the 6 00:00:12,560 --> 00:00:15,800 most relevant technology that you, my fellow millennial, 7 00:00:16,079 --> 00:00:19,840 should understand and adopt. Today, I'm joined by a man who, 8 00:00:19,840 --> 00:00:22,440 in the past few weeks has become one of my favorite Bitcoin 9 00:00:22,440 --> 00:00:24,880 content creators. This is something he's been 10 00:00:24,880 --> 00:00:27,200 doing next next to his other ventures. 11 00:00:27,440 --> 00:00:30,280 Being an entrepreneur and an investor, I love his faults on 12 00:00:30,280 --> 00:00:32,840 Bitcoin and I'm super excited to have him as a first guest. 13 00:00:33,160 --> 00:00:34,560 I don't even know his real name. He has. 14 00:00:34,800 --> 00:00:37,560 He has a pseudonym. But yeah, British huddle man 15 00:00:37,640 --> 00:00:39,120 welcome. Thank you very much. 16 00:00:39,120 --> 00:00:41,720 Nice to where are you. Are you Dutch, by the way? 17 00:00:42,000 --> 00:00:43,320 Yes. Can you hear it? 18 00:00:46,760 --> 00:00:48,320 Yeah. We ruled the world, man. 19 00:00:49,240 --> 00:00:52,480 You guys did. Yeah, I know. 20 00:00:52,480 --> 00:00:54,280 I actually. I was on another podcast and 21 00:00:54,280 --> 00:00:56,600 someone asked me about it. Like how much? 22 00:00:57,040 --> 00:01:02,100 How much we learn about it And I had to answer not that much to 23 00:01:02,100 --> 00:01:04,099 be honest. Like we we learn about the 24 00:01:04,099 --> 00:01:07,100 golden age and stuff and that's some, you know, lots of stuff 25 00:01:07,100 --> 00:01:10,660 was very bad. But the financial part basically 26 00:01:10,660 --> 00:01:13,620 of it, you know, like not, not so much actually. 27 00:01:13,780 --> 00:01:17,140 And that made me realize when I got that question, like I 28 00:01:17,140 --> 00:01:18,340 actually don't know a lot about it. 29 00:01:18,660 --> 00:01:20,060 Yeah, it's the same thing as the UK. 30 00:01:20,060 --> 00:01:22,900 Like the the last thing it seems they want to teach you in 31 00:01:22,900 --> 00:01:25,900 British schools is how big the British Empire was and how 32 00:01:26,020 --> 00:01:27,100 powerful. Strong. 33 00:01:27,100 --> 00:01:31,260 Undefeated. And unrelenting and positive it 34 00:01:31,260 --> 00:01:34,300 was to the world. Yeah, you know, we just want to 35 00:01:34,300 --> 00:01:36,180 know. We just want to know about all 36 00:01:36,180 --> 00:01:39,060 the bad things that happen. It's like like as if bad things 37 00:01:39,060 --> 00:01:40,900 don't happen. When you have the most 38 00:01:40,900 --> 00:01:43,420 successful empire in the world. It's like, of course bad stuff's 39 00:01:43,420 --> 00:01:45,660 gonna happen, but there was also good things. 40 00:01:45,660 --> 00:01:47,140 But nobody ever wants to talk about that. 41 00:01:47,420 --> 00:01:48,540 Yeah, that's what they say, right? 42 00:01:48,540 --> 00:01:51,260 The stories who get told by the survivors and they can spin it 43 00:01:51,260 --> 00:01:52,660 anyway. Anyway, they kind. 44 00:01:52,820 --> 00:01:56,690 Of Yeah. So a quick check, Of course, 45 00:01:56,690 --> 00:01:58,050 this is called Bitcoin for millennials. 46 00:01:58,050 --> 00:01:59,930 Which generation do you belong to? 47 00:01:59,930 --> 00:02:01,730 Like, I know you're a bit secretive. 48 00:02:01,730 --> 00:02:03,890 I don't know. I'm 34 years old. 49 00:02:04,610 --> 00:02:08,930 That's the same, right? So we are those millennials and 50 00:02:08,930 --> 00:02:14,490 I see you do basically what you do around Bitcoin for your 51 00:02:14,490 --> 00:02:17,460 parents generation. Could you tell a bit about that? 52 00:02:17,460 --> 00:02:20,500 Like what's the driver there? Yeah, like, you know, one of the 53 00:02:20,580 --> 00:02:23,220 I was very lucky. Like I started off in business 54 00:02:23,220 --> 00:02:26,100 when I was 16 years old. I was negotiating property deals 55 00:02:26,460 --> 00:02:31,340 because of my dad and I was pretty good at that at a young 56 00:02:31,340 --> 00:02:33,820 age. So I was very lucky I started 57 00:02:33,820 --> 00:02:36,620 off in business at a very young age. 58 00:02:37,860 --> 00:02:41,810 What I what annoys me? Is that when I look at my 59 00:02:41,810 --> 00:02:45,370 parents, for example, who are immigrants to the United Kingdom 60 00:02:45,370 --> 00:02:49,810 who have done everything right, they've done everything right, 61 00:02:50,090 --> 00:02:54,690 exactly what they tell you, go get a job, invest, etcetera, 62 00:02:54,690 --> 00:02:56,650 etcetera. Save some money, invest in the 63 00:02:56,650 --> 00:03:03,010 property market. And then, you know, 35 years of 64 00:03:03,010 --> 00:03:06,370 building a property portfolio because it was doing the right 65 00:03:06,370 --> 00:03:10,010 thing, sacrificing for their children, me and my brother and. 66 00:03:10,900 --> 00:03:12,900 You when you look at the valuation of that property 67 00:03:12,900 --> 00:03:16,860 portfolio, it's basically 85 to 90% lower than it should be 68 00:03:16,860 --> 00:03:18,900 based on the amount of currency that's been printed. 69 00:03:19,220 --> 00:03:22,660 Yeah, but it's kept up with inflation, right. 70 00:03:22,900 --> 00:03:26,340 But it's number is nice, right? So the number is cool, but it 71 00:03:26,340 --> 00:03:29,140 doesn't match the value. So what really has happened is, 72 00:03:29,620 --> 00:03:33,340 you know, their 35 years of actually doing the right thing 73 00:03:33,340 --> 00:03:38,100 has been really 35 years of their true value and sole energy 74 00:03:38,180 --> 00:03:42,960 being stolen from them. And for me, that's extremely 75 00:03:42,960 --> 00:03:44,640 important. You know how many people there 76 00:03:44,640 --> 00:03:49,000 are who have followed exactly my parents path and have been 77 00:03:49,000 --> 00:03:51,760 selfless in that and now have had their value stolen. 78 00:03:51,760 --> 00:03:54,040 And they're wondering why their children are going crazy and 79 00:03:54,040 --> 00:03:57,120 wondering why they can't keep up with providing the life that 80 00:03:57,120 --> 00:03:59,240 they want to provide, even though they've got millions of 81 00:03:59,240 --> 00:04:01,280 dollars of real estate or whatever it is. 82 00:04:01,930 --> 00:04:03,930 That is, that's heartbreaking to me. 83 00:04:03,930 --> 00:04:07,170 No, because great. You know, listen, we can be 84 00:04:07,170 --> 00:04:09,250 frank. Can I be frank on this podcast 85 00:04:09,250 --> 00:04:11,970 or I'm gonna try this. The first episode, you can set 86 00:04:11,970 --> 00:04:16,290 the precedent to rest, right? I'm gonna have Greg Foss on 87 00:04:16,290 --> 00:04:19,089 hopefully. So he'll continue this president 88 00:04:19,089 --> 00:04:19,490 then? Yeah. 89 00:04:19,730 --> 00:04:20,930 Cool. So like, you know, broke 90 00:04:20,930 --> 00:04:23,930 millennials that have never done anything in the world and just 91 00:04:23,930 --> 00:04:26,890 want to complain about, you know, how the world is, is 92 00:04:26,890 --> 00:04:29,770 unfair, etc, etc. Is is 1. 93 00:04:30,240 --> 00:04:33,720 Market for people that that need Bitcoin for sure. 94 00:04:34,400 --> 00:04:37,120 I just care about people that have actually done the right 95 00:04:37,120 --> 00:04:40,760 thing that I've actually done. Made an effort, actually done 96 00:04:40,760 --> 00:04:42,960 something right. Not complained, shut up and 97 00:04:42,960 --> 00:04:47,320 actually done the right thing and are still being fucked. 98 00:04:47,640 --> 00:04:50,840 Yeah. And so when you say stolen, I I 99 00:04:50,840 --> 00:04:52,280 think that's an interesting word, right? 100 00:04:52,280 --> 00:04:57,900 Because like in my kind of network when I talk to, you know 101 00:04:58,740 --> 00:05:01,780 people in the same generation, when I talk about, you know, 102 00:05:02,900 --> 00:05:05,500 this is the money system that we participate in. 103 00:05:05,500 --> 00:05:10,540 You know, per definition it gets worth, you know, anything you 104 00:05:10,540 --> 00:05:14,580 own gets worth less. You know the grades in value, 2% 105 00:05:14,580 --> 00:05:17,780 a year now it's way, way more. It's kind of like this value, 106 00:05:17,780 --> 00:05:20,980 you know, the money energy that are the energy that you, you 107 00:05:20,980 --> 00:05:23,540 know accumulated as your wealth gets stolen from you. 108 00:05:23,540 --> 00:05:28,220 And I've had multiple people that told me, and I think I know 109 00:05:28,220 --> 00:05:30,260 what your answer is going to be, what you think of it. 110 00:05:30,260 --> 00:05:33,220 But like, yeah, when you say stolen, like, like that's a 111 00:05:33,220 --> 00:05:36,300 pretty harsh word, you know, You know. 112 00:05:36,300 --> 00:05:40,100 And then I kind of lose them in this conversation, which I find 113 00:05:40,100 --> 00:05:42,260 very interesting. Like, why do you say stolen? 114 00:05:42,260 --> 00:05:43,980 What can you define that? Or like what? 115 00:05:44,020 --> 00:05:46,380 What do you mean by that? Because there has to be two. 116 00:05:46,380 --> 00:05:50,020 You have to distinguish between price and value, right? 117 00:05:50,020 --> 00:05:54,110 So when you said you know. Things are going down at two. 118 00:05:54,110 --> 00:05:55,790 You know you're losing 2% a year. 119 00:05:55,790 --> 00:05:59,870 That's really prices, right? Prices of things are going up at 120 00:05:59,870 --> 00:06:03,310 2% a year, they hope over a long period of time. 121 00:06:03,870 --> 00:06:07,830 But what people don't talk about is what true wealth is. 122 00:06:07,830 --> 00:06:12,790 True wealth is what percentage of the overall supply of that 123 00:06:12,790 --> 00:06:16,750 wealth that you control. If I control 20% of that supply, 124 00:06:16,750 --> 00:06:20,430 I'm wealthier than someone who controls 10% of that supply. 125 00:06:20,950 --> 00:06:24,630 So while the prices might be going up at 2% a year, the 126 00:06:24,790 --> 00:06:29,390 actual percentage of wealth that you control is less over time, 127 00:06:29,590 --> 00:06:32,430 even though there's quote, UN quote more money printed because 128 00:06:32,430 --> 00:06:35,270 they're not giving you the appropriate amount, They're 129 00:06:35,270 --> 00:06:39,710 saying, oh, your property portfolio today is worth 1% of 130 00:06:39,710 --> 00:06:43,710 the money supply and we've just three X the money supply, so 131 00:06:43,710 --> 00:06:47,230 300% up and we're going to increase your control of it to 132 00:06:47,230 --> 00:06:48,960 1.5%. Right. 133 00:06:48,960 --> 00:06:50,640 Yeah. So there's a spread that they've 134 00:06:50,640 --> 00:06:53,680 stolen in that scenario that is wealth stealing. 135 00:06:55,240 --> 00:06:56,440 I think that's a good explanation. 136 00:06:56,440 --> 00:06:58,640 I'm gonna try. I'm gonna try that as well, but 137 00:06:58,640 --> 00:07:01,600 I think it's interesting. It can't work on millennials cuz 138 00:07:01,600 --> 00:07:03,120 most millennials don't have shit. 139 00:07:03,560 --> 00:07:06,960 That's what I'm gonna try. Millennials don't have shit to 140 00:07:06,960 --> 00:07:09,660 be stolen. Right, most. 141 00:07:09,780 --> 00:07:12,380 But they still want the same as other people, right? 142 00:07:12,380 --> 00:07:14,780 Like as anyone. So I think. 143 00:07:15,100 --> 00:07:17,540 God loves a Tryer. And millennials these days are 144 00:07:17,540 --> 00:07:21,940 the best Tryers. That's that's a good quote, man. 145 00:07:22,300 --> 00:07:26,620 I well, my point was more like everyone wants the same, right? 146 00:07:26,620 --> 00:07:30,700 Everyone wants hopefully a family, a place to live, you 147 00:07:30,700 --> 00:07:33,340 know, take care of your parents and stuff like. 148 00:07:33,660 --> 00:07:35,940 That's what everyone wants nowadays, because the marriage 149 00:07:35,940 --> 00:07:38,420 rates are plummeting, the birth rates are plummeting. 150 00:07:38,810 --> 00:07:40,250 I don't know if that's what everyone wants. 151 00:07:40,250 --> 00:07:44,130 It sounds like what everyone wants is, you know, it is blue 152 00:07:44,130 --> 00:07:46,090 hair. They want freedom. 153 00:07:46,090 --> 00:07:48,530 They want all this other stuff that they don't want to pay for 154 00:07:48,530 --> 00:07:51,410 or be responsible for. It sounds like one point, I 155 00:07:51,610 --> 00:07:56,730 think, well, I hope you know, a reckoning day will be there when 156 00:07:57,050 --> 00:07:59,930 people will realize, you know, that they have to actually do 157 00:07:59,930 --> 00:08:06,010 stuff. Also, I do agree with you, but 158 00:08:07,060 --> 00:08:09,500 yeah, I think it's a fair point. You know, like there's a very 159 00:08:09,500 --> 00:08:12,660 big difference in these generations. 160 00:08:12,660 --> 00:08:17,420 And I really love it when you say that you know you they did 161 00:08:17,420 --> 00:08:21,820 what they thought was best and now you know they are actually 162 00:08:21,820 --> 00:08:25,340 at the moment when they want to, you know, have the benefits of 163 00:08:25,340 --> 00:08:27,500 this wealth, they have a problem. 164 00:08:28,410 --> 00:08:31,170 They're now forced to scale down their living experience. 165 00:08:31,290 --> 00:08:34,289 So I imagine that you do the right thing for 35 years, and 166 00:08:34,289 --> 00:08:38,130 then your reward at the end of it is a lower life experience. 167 00:08:38,330 --> 00:08:41,570 You scale down your house, you scale down your your living 168 00:08:41,570 --> 00:08:44,610 expenses, you take less trips. Like, what are we talking about? 169 00:08:44,610 --> 00:08:47,210 This isn't life. This is not what life promised. 170 00:08:47,210 --> 00:08:49,050 This is not what life should be about. 171 00:08:49,050 --> 00:08:51,890 And if there is a God in the world, I don't believe any God 172 00:08:51,890 --> 00:08:55,130 would wish that on on it, on his or her children. 173 00:08:56,210 --> 00:08:59,250 I agree. And So what would be the, like 174 00:08:59,250 --> 00:09:02,410 the biggest thing that people don't understand about, you 175 00:09:02,410 --> 00:09:03,930 know, the current financial system? 176 00:09:03,930 --> 00:09:06,770 And why should they actually understand that? 177 00:09:07,050 --> 00:09:11,770 The biggest thing is the only number that matters is what 178 00:09:11,770 --> 00:09:16,570 percentage of the overall supply of currency do you control. 179 00:09:16,570 --> 00:09:18,730 That's it. Nothing else matters. 180 00:09:18,850 --> 00:09:22,210 If you just aim to optimize that, you'll be fine forever. 181 00:09:23,050 --> 00:09:27,170 Everything else is a joke. Everything else is is like is 182 00:09:27,210 --> 00:09:31,290 all of this new ones BS. If you control 1% of the money 183 00:09:31,290 --> 00:09:34,770 supply today, your job is to make sure that you control 1% of 184 00:09:34,770 --> 00:09:37,010 the money supply tomorrow. Simple. 185 00:09:37,900 --> 00:09:40,660 That's the work you have to do. That's the work you have to do. 186 00:09:40,660 --> 00:09:43,660 And unfortunately, in order to do that work, they've put you in 187 00:09:43,660 --> 00:09:46,500 a position where you need to become a speculator, You need to 188 00:09:46,500 --> 00:09:49,460 invest in stocks, you need to invest in property, you need to 189 00:09:49,460 --> 00:09:52,580 invest in all these little things, all this stupid shit, 190 00:09:52,580 --> 00:09:55,590 just to. Just to keep the value that you 191 00:09:55,590 --> 00:09:57,950 already earned, because you earned that you went to work. 192 00:09:58,110 --> 00:09:59,550 You worked. You earned that. 193 00:09:59,550 --> 00:10:01,790 You sacrificed yourself. You sacrifice time away from 194 00:10:01,790 --> 00:10:03,590 your family. You sacrifice time away from 195 00:10:03,590 --> 00:10:05,670 your children. You sacrifice time away from 196 00:10:05,670 --> 00:10:07,950 your wife or husband or both these days. 197 00:10:08,190 --> 00:10:11,630 And now, now that you've done that, now you have to become 198 00:10:11,630 --> 00:10:14,110 another job. You have to become a 199 00:10:14,110 --> 00:10:18,030 professional speculator in order to just maintain that, and 200 00:10:18,030 --> 00:10:20,310 there's a 95% chance you're going to lose your money whereas 201 00:10:20,310 --> 00:10:23,510 you become a speculator. It doesn't make sense. 202 00:10:24,690 --> 00:10:27,730 And when people hear that for the first time, like, I fully 203 00:10:27,730 --> 00:10:30,050 agree. I also once had a tweet about 204 00:10:30,050 --> 00:10:31,610 this. You know, like you take risk 205 00:10:31,610 --> 00:10:35,410 with a venture you have or the job that you take, you know. 206 00:10:35,410 --> 00:10:38,570 And then when you're home, you take on your other job. 207 00:10:39,930 --> 00:10:44,030 And many people don't know that they have that actual job to 208 00:10:44,030 --> 00:10:48,430 protect the the energy, the money that they that they 209 00:10:48,430 --> 00:10:50,470 earned. Like if someone hears that for 210 00:10:50,470 --> 00:10:53,750 the first time, like I like I see that you see that. 211 00:10:54,190 --> 00:10:57,470 My goal hopefully with this podcast is to, you know help 212 00:10:57,470 --> 00:11:01,630 more people see that, like how can we drill down on that a bit 213 00:11:01,630 --> 00:11:04,510 like can. Is there a way you you could 214 00:11:04,510 --> 00:11:07,830 explain why that is actually the case? 215 00:11:10,750 --> 00:11:14,390 Yes, because everything is downstream of money. 216 00:11:14,630 --> 00:11:17,910 Culture is downstream of money. Everything is downstream of 217 00:11:17,910 --> 00:11:19,150 money. That everyone, everyone always 218 00:11:19,150 --> 00:11:23,910 says that everything had like culture changed, right? 219 00:11:23,990 --> 00:11:26,150 Culture changed, society changed. 220 00:11:26,430 --> 00:11:27,670 No. What actually changed was the 221 00:11:27,670 --> 00:11:29,590 money. Human beings are incentive 222 00:11:29,590 --> 00:11:33,390 driven creatures and we will do an act in the way that our 223 00:11:33,390 --> 00:11:37,010 incentives point us in. And when the, when the 224 00:11:37,010 --> 00:11:41,010 incentives are all of this money is like printed immediately it's 225 00:11:41,010 --> 00:11:42,930 out there. You're encouraged to take 226 00:11:42,930 --> 00:11:45,410 further risks because you know that the value of this money is 227 00:11:45,410 --> 00:11:47,410 going to go down. So I need to take risks. 228 00:11:47,650 --> 00:11:50,890 And as you take those risks, your dopamine, your dopamine 229 00:11:50,890 --> 00:11:54,090 structures change in your brain and now you start implementing 230 00:11:54,090 --> 00:11:57,690 that level of conditioning in every area of your life and then 231 00:11:57,690 --> 00:12:00,210 we end up here. Everything is downstream of the 232 00:12:00,210 --> 00:12:02,740 money. And the money is corrupted 233 00:12:02,900 --> 00:12:05,980 because they 12 people in the world or whatever it is, can 234 00:12:05,980 --> 00:12:08,580 print a bunch of money and devalue your wealth. 12 people 235 00:12:08,580 --> 00:12:15,260 in the world can sit there and go, oh, you know, Brahm has 1.5% 236 00:12:15,260 --> 00:12:19,980 of the money supply and tomorrow he has 1.7% of the money supply 237 00:12:19,980 --> 00:12:23,780 that I just three X. Now, if someone's watching this 238 00:12:24,140 --> 00:12:29,020 and they don't think that that is unfair, you're fucked and 239 00:12:29,020 --> 00:12:31,280 it's OK. Because you'll learn one way or 240 00:12:31,280 --> 00:12:33,560 another. Either you learn and you take 241 00:12:33,560 --> 00:12:37,280 advantage of the learning or you learn and you suffer as a result 242 00:12:37,280 --> 00:12:39,520 of the learning one way or the other. 243 00:12:40,800 --> 00:12:45,080 So before we move to the topic of Bitcoin, obviously you know 244 00:12:45,080 --> 00:12:49,000 as something that could help or even save the people that are 245 00:12:49,000 --> 00:12:51,960 stuck in this system. Who are. 246 00:12:51,960 --> 00:12:56,400 What has been your most like influential on on shaping your 247 00:12:56,400 --> 00:13:01,530 views on on this basically money risk, wealth, what was your 248 00:13:01,530 --> 00:13:04,010 biggest influence? Really. 249 00:13:04,010 --> 00:13:07,130 No, I don't really know. I think it was more so lessons 250 00:13:07,130 --> 00:13:09,530 that I've learned along the way. There's never really been one 251 00:13:09,530 --> 00:13:11,210 big. I've had good mentors, I've had 252 00:13:11,210 --> 00:13:14,810 good guides, I've had, you know, good people around me and good 253 00:13:14,810 --> 00:13:16,930 inspiring people. I just wanted to get rich. 254 00:13:16,930 --> 00:13:20,050 Like when I was younger, I just wanted to get rich just like I 255 00:13:20,050 --> 00:13:22,530 hope everyone else. But nowadays it seems like 256 00:13:22,530 --> 00:13:25,250 people just want to don't want to get rich anymore because 257 00:13:25,250 --> 00:13:27,210 being rich is bad, you know? So it's like. 258 00:13:27,830 --> 00:13:31,510 I just wanted to get rich and I just wanted to create value and 259 00:13:31,510 --> 00:13:34,350 and understand what that meant and how that process worked and 260 00:13:34,550 --> 00:13:38,230 and just get rich and along that way I had different influences. 261 00:13:38,230 --> 00:13:40,790 I had different influences when I was 16, different influences 262 00:13:40,790 --> 00:13:44,070 when I was 2025. I just I I collect different 263 00:13:44,070 --> 00:13:47,470 influences, so learning by doing basically. 264 00:13:47,590 --> 00:13:49,630 Yeah, yeah. I've never really had just like 265 00:13:49,630 --> 00:13:52,070 one person. That amazed me. 266 00:13:52,750 --> 00:13:54,790 I had different people at different stages of life. 267 00:13:55,750 --> 00:13:59,000 So what do you think is, is the cause of people? 268 00:13:59,280 --> 00:14:03,040 Well, I think people still want to get rich in some way. 269 00:14:04,200 --> 00:14:07,120 But yes, on the other side of that, there's also people that 270 00:14:07,400 --> 00:14:10,360 hate all the rich people, whatever rich is nowadays, by 271 00:14:10,360 --> 00:14:13,600 the way. Like, what happened there? 272 00:14:14,320 --> 00:14:20,200 Why is there such a difference between these these generations 273 00:14:20,200 --> 00:14:22,840 or even the people within the generation? 274 00:14:23,240 --> 00:14:25,400 Well, because when you have the money, you can tell someone to 275 00:14:25,400 --> 00:14:28,810 get fucked. So if if you're if I'm 276 00:14:28,810 --> 00:14:32,850 controlling a population, like I completely understand why 277 00:14:32,850 --> 00:14:35,690 everything's happened the way it's happened, I I get it. 278 00:14:35,690 --> 00:14:38,010 Because I would do the exact same thing if I was running this 279 00:14:38,010 --> 00:14:41,770 $900 trillion dollar empire, I would do exactly the same. 280 00:14:42,370 --> 00:14:45,090 I would make people realize that money is not the most important 281 00:14:45,090 --> 00:14:48,090 thing in the world, and I would make them realize that social 282 00:14:48,090 --> 00:14:50,810 justice and other things are way more important and way more 283 00:14:50,810 --> 00:14:54,280 worthwhile causes. And I would figure out a way to 284 00:14:54,280 --> 00:14:57,280 steal their value from them before they've even got a chance 285 00:14:57,280 --> 00:15:00,920 to realize what that value is. And I would keep them trapped. 286 00:15:01,280 --> 00:15:03,960 That's exactly what I would do and that's exactly what anyone 287 00:15:03,960 --> 00:15:07,160 with any common sense running a $900 trillion empire would do. 288 00:15:07,720 --> 00:15:11,680 That's just opportunity cost or or just the opportunity that you 289 00:15:11,680 --> 00:15:13,040 have. It's, it's my. 290 00:15:13,200 --> 00:15:16,320 Job is to keep the system alive. My job is to keep my system 291 00:15:16,320 --> 00:15:19,320 alive. Have you ever looked into like 292 00:15:19,320 --> 00:15:23,020 the Roman Empire and the downfall of of that like 293 00:15:23,100 --> 00:15:25,540 everyone? Feels pretty similar. 294 00:15:26,220 --> 00:15:28,540 Everyone was obsessed with chopping their Dicks off back 295 00:15:28,540 --> 00:15:32,100 then too well, and you know, cutting. 296 00:15:32,100 --> 00:15:35,380 I love these pictures of cutting the cutting the coins, you know, 297 00:15:35,940 --> 00:15:38,980 But do you think it's hard to understand? 298 00:15:39,460 --> 00:15:42,980 That's my perception sometimes that when we read about things 299 00:15:42,980 --> 00:15:45,500 in the past, you know, we kind of observe them, you know, it's 300 00:15:45,500 --> 00:15:48,140 far away from us, you know, in time, but also just an 301 00:15:48,140 --> 00:15:52,390 experience. And now I see people talk about, 302 00:15:52,390 --> 00:15:54,470 you know, we're living through the exact same thing. 303 00:15:54,470 --> 00:15:56,910 You know, like what you mentioned, there's so, so many, 304 00:15:58,670 --> 00:16:00,830 so many, so many of the same things going on. 305 00:16:01,590 --> 00:16:04,590 Do you think it's difficult for people to actually understand 306 00:16:04,630 --> 00:16:08,230 that that what we read about is also happening now? 307 00:16:08,990 --> 00:16:11,670 Well, I don't know if it's also happening now, right? 308 00:16:11,790 --> 00:16:15,110 I I I think history rhymes. I don't think it was sort of 309 00:16:15,110 --> 00:16:18,070 repeats itself. I think it rhymes and then it 310 00:16:18,070 --> 00:16:19,950 sort of looks as similar as possible. 311 00:16:21,310 --> 00:16:25,310 You know, I The problem is when somebody is so in something and 312 00:16:25,310 --> 00:16:28,230 somebody's so brainwashed into something, there's nothing you 313 00:16:28,230 --> 00:16:31,830 can say is going to make them go, oh, maybe I'm wrong because 314 00:16:31,830 --> 00:16:35,030 there's trillions of dollars of advertising going in the other 315 00:16:35,030 --> 00:16:37,350 direction to incentivize you to think that way. 316 00:16:37,880 --> 00:16:42,120 So I don't believe that it's possible to turn around this 317 00:16:42,120 --> 00:16:44,280 brainwashing. I don't try and fight against 318 00:16:44,280 --> 00:16:45,360 it. I ridicule it. 319 00:16:45,640 --> 00:16:48,200 I think it's happening and there's an agenda. 320 00:16:48,200 --> 00:16:53,280 And I'm not trying to fight a $900 trillion beast, so just 321 00:16:53,760 --> 00:16:57,200 take care of you in your own. Yeah, like the people you say, 322 00:16:57,440 --> 00:17:00,040 anyone you love. Yeah, yeah, the people around me 323 00:17:00,040 --> 00:17:02,040 are fine. The people around me are set. 324 00:17:02,480 --> 00:17:05,319 You know anyone else who wants to cuz I've had conversations, 325 00:17:05,319 --> 00:17:05,880 right? Why? 326 00:17:06,430 --> 00:17:09,109 You know these Mpc's where you're having a conversation and 327 00:17:09,109 --> 00:17:11,510 it feels like you've just got to a point where something has 328 00:17:11,510 --> 00:17:15,869 started to make sense and then you know something happens to 329 00:17:15,869 --> 00:17:19,069 them and and they go back, go to the bathroom or whatever, reset 330 00:17:19,069 --> 00:17:20,869 and come back as as an agent again. 331 00:17:20,869 --> 00:17:24,550 And it's like what what do you, how do you argue against that? 332 00:17:26,829 --> 00:17:31,910 It's spiritually broke, I think also kind of like there's not a 333 00:17:31,910 --> 00:17:36,340 lot of self reflection going on. There's not a lot of real, you 334 00:17:36,340 --> 00:17:38,380 know there's. Absolutely 0 self reflection 335 00:17:38,380 --> 00:17:41,100 going on, yeah, but no inquiry as well. 336 00:17:41,100 --> 00:17:45,820 I think there's not that many just like open conversations 337 00:17:45,820 --> 00:17:49,580 where you think A, I think B and let's see where we end up. 338 00:17:50,060 --> 00:17:54,300 You can't because when you have to go to work for, you know, 10 339 00:17:54,300 --> 00:17:57,260 hours a day, 11 hours a day, 12 hours a day, you gotta go to 340 00:17:57,260 --> 00:17:59,060 work, you gotta maybe have two jobs. 341 00:17:59,470 --> 00:18:03,310 You got children to look after you got, you know that the like, 342 00:18:03,310 --> 00:18:06,590 you just got too much to think about and then you kill the 343 00:18:06,590 --> 00:18:08,510 will. You need will. 344 00:18:08,630 --> 00:18:11,190 That's why they want people to be busy, because when you're 345 00:18:11,190 --> 00:18:14,870 busy, you don't have time to think, you know. 346 00:18:14,870 --> 00:18:17,350 That's why. That's why the majority of 347 00:18:17,350 --> 00:18:20,990 people working, they have a screen 30 centimeters in front 348 00:18:20,990 --> 00:18:22,070 of. I think I read this study a 349 00:18:22,070 --> 00:18:27,300 while ago, which is like. Screen or something that is 30 350 00:18:27,300 --> 00:18:30,340 or 60 centimeters or something like that in front of your face 351 00:18:30,340 --> 00:18:32,180 literally shuts down part of the brain. 352 00:18:33,940 --> 00:18:37,620 Like the best thing you can do to wake up your brain is to look 353 00:18:37,820 --> 00:18:41,700 outside and look, try and look as far as you can look. 354 00:18:41,860 --> 00:18:43,740 And that starts to open up your brain again. 355 00:18:43,740 --> 00:18:45,220 Wake your brain up. Yeah. 356 00:18:46,220 --> 00:18:53,000 And so if we move to Bitcoin, right, I wanted to ask you, how 357 00:18:53,000 --> 00:18:56,560 do you personally approach the topic of this financial risk 358 00:18:56,560 --> 00:18:59,960 that we talked about? Part of that is obviously 359 00:18:59,960 --> 00:19:02,960 Bitcoin. I checked out a lot of your 360 00:19:02,960 --> 00:19:07,480 content and I think you also mentioned that you encountered 361 00:19:07,480 --> 00:19:11,640 Bitcoin, but you did not get into it in the beginning. 362 00:19:12,560 --> 00:19:15,100 I thought it was a fucking scam. So what? 363 00:19:15,100 --> 00:19:17,580 What belief made you not get in two bit? 364 00:19:18,780 --> 00:19:21,860 Remember, my background has been traditional asset, so it's been 365 00:19:21,860 --> 00:19:25,020 real estate, it's been stocks, it's been gold, it's been all 366 00:19:25,020 --> 00:19:26,300 that. And you're telling me that this 367 00:19:26,300 --> 00:19:30,700 digital thing that is is, but this doesn't make any sense in 368 00:19:30,700 --> 00:19:33,220 the world. That's where my mindset was, but 369 00:19:33,220 --> 00:19:36,860 that was an easy dismissal. Yeah, like it was just, it was 370 00:19:37,300 --> 00:19:42,100 it was the easiest and stupidest dismissal that you could have 371 00:19:42,100 --> 00:19:44,220 made and and you gotta remember like. 372 00:19:45,490 --> 00:19:49,130 Bitcoin right now is making a lot of sense in at least in the 373 00:19:49,130 --> 00:19:52,690 last, you know, few years to peop majority of the Bitcoin 374 00:19:53,170 --> 00:19:56,170 common sense comes from people that didn't have assets. 375 00:19:56,370 --> 00:19:58,090 Why? Because people that do have 376 00:19:58,090 --> 00:20:01,650 assets don't give a shit, right? I'm getting richer, right? 377 00:20:01,770 --> 00:20:04,450 It might not be at the same rate as as I should be getting 378 00:20:04,450 --> 00:20:07,810 richer, but I'm getting richer. So the urgency is less and 379 00:20:07,810 --> 00:20:10,650 that's why I think the urgency is about to shift to that to 380 00:20:10,650 --> 00:20:13,510 that market. Yeah, we'll get into that 381 00:20:13,510 --> 00:20:15,510 because I really like your views on that. 382 00:20:15,510 --> 00:20:20,430 But to just go back one thing, like what belief do you think 383 00:20:20,870 --> 00:20:23,190 that caused, right? I always find it very 384 00:20:23,190 --> 00:20:26,270 interesting in general when someone shares an idea or 385 00:20:26,270 --> 00:20:30,920 encounters something new, like dismissing something, it's very 386 00:20:30,920 --> 00:20:35,200 easy and lazy, right? And in some way also kind of, 387 00:20:35,720 --> 00:20:38,320 you know, could give you some satisfaction and feeling like 388 00:20:38,320 --> 00:20:41,520 you're like you're smart, right, But like actually doing the work 389 00:20:41,520 --> 00:20:44,760 and kind of diving in more and and well do some self reflection 390 00:20:44,760 --> 00:20:48,440 or challenge yourself, you know, that's obviously way more, way 391 00:20:48,440 --> 00:20:52,240 more work. So what did you do or what did 392 00:20:52,240 --> 00:20:54,920 you encounter when you actually got it? 393 00:20:54,920 --> 00:20:56,880 Like what was what was the aha moment? 394 00:20:57,370 --> 00:21:00,170 So I'll be, I'll be completely honest, I was just thinking 395 00:21:00,170 --> 00:21:02,490 while you were while you were speaking and this is the first 396 00:21:02,490 --> 00:21:07,130 time I've ever said this right, The reason why Bitcoin didn't 397 00:21:07,130 --> 00:21:10,690 make any sense to me was because it didn't make any sense to the 398 00:21:10,690 --> 00:21:16,890 people around me, right, Because I was around real estate guys, 399 00:21:16,890 --> 00:21:19,770 stock market guys, gold guys, etcetera, etcetera. 400 00:21:20,090 --> 00:21:23,090 And I was. I was just too stupid to go do 401 00:21:23,090 --> 00:21:27,180 the thinking for myself, I said. What made you actually do it? 402 00:21:27,540 --> 00:21:32,100 So what happened was in 2020 after after the after the 403 00:21:32,100 --> 00:21:36,220 worldwide flu season, I was locked down in London. 404 00:21:36,980 --> 00:21:41,060 And a friend of mine who was one of those guys who I listened to 405 00:21:41,060 --> 00:21:45,700 when they said that Bitcoin is a scam, actually told me you 406 00:21:45,700 --> 00:21:50,340 should listen to this book called The Bitcoin Standard and 407 00:21:50,340 --> 00:21:52,540 I was walking around my local park. 408 00:21:53,000 --> 00:21:55,160 Because in the UK, even though we were locked down, you could 409 00:21:55,160 --> 00:21:58,760 be out all day, right? And I was just listening to this 410 00:21:58,760 --> 00:22:02,560 audio book and having a gold background. 411 00:22:03,080 --> 00:22:07,360 The 2nd that safe and Dean in that book mentions the idea of 412 00:22:07,360 --> 00:22:11,200 stock to flow. I remember stopping in the 413 00:22:11,200 --> 00:22:14,600 middle of this park as I'm walking around it and realizing 414 00:22:14,600 --> 00:22:20,590 that I've fucked up and. I rewind it. 415 00:22:21,030 --> 00:22:23,390 OK Can we picture this like in the middle of the street? 416 00:22:23,390 --> 00:22:25,430 You're standing and you're like. In the middle of a park. 417 00:22:25,510 --> 00:22:28,790 It was in the middle of now. But yeah, like, it was worse 418 00:22:28,790 --> 00:22:29,390 than that. I was. 419 00:22:29,390 --> 00:22:33,310 I just fucked up. So I rewound it, listened to 420 00:22:33,310 --> 00:22:36,430 that segment again before I even finished the rest of the book. 421 00:22:36,510 --> 00:22:39,870 Because you gotta remember, also in 2017, me and my best friend, 422 00:22:40,150 --> 00:22:43,710 we were smoking cigars and we were like, this Bitcoin thing 423 00:22:43,710 --> 00:22:46,670 looks like it's pumping. So we both we both bought like 424 00:22:46,670 --> 00:22:50,080 20 bitcoins each. While we're smoking cigars and 425 00:22:50,080 --> 00:22:52,880 two weeks later once the price double we sold them and paid for 426 00:22:52,880 --> 00:22:56,840 six months worth of cigars. So that was in that was in or 427 00:22:56,840 --> 00:23:00,840 whatever it was. And and then this happened in 428 00:23:00,840 --> 00:23:06,440 2020 and so I I literally had a Coinbase account already. 429 00:23:07,120 --> 00:23:11,440 So I downloaded Coinbase again, logged into my account, wired 430 00:23:11,440 --> 00:23:14,200 money from from from my bank account. 431 00:23:14,800 --> 00:23:19,240 To Coinbase, and I had bought Bitcoin by the time I'd walked 432 00:23:19,240 --> 00:23:21,520 home. Like that's how urgent it 433 00:23:21,520 --> 00:23:23,480 became. And then in the next few months, 434 00:23:23,480 --> 00:23:26,240 I moved like 35% of my net worth into Bitcoin. 435 00:23:26,240 --> 00:23:29,040 And then by the end of 2020, it was significantly hard in that, 436 00:23:29,720 --> 00:23:33,040 all right. So that's stock to flow model. 437 00:23:33,900 --> 00:23:36,740 Not the model, just the idea, just the idea of stock model. 438 00:23:36,740 --> 00:23:39,100 Wasn't around model, wasn't really even around then. 439 00:23:39,180 --> 00:23:41,660 Yeah, it was just the idea, cuz coming from a gold background, 440 00:23:41,820 --> 00:23:44,180 I'd never considered Bitcoin like a commodity. 441 00:23:44,180 --> 00:23:45,820 Yeah, could you elaborate a bit on that? 442 00:23:45,820 --> 00:23:47,740 Like what is stock to flow like? Oh, I don't know. 443 00:23:47,860 --> 00:23:50,140 And how does that tie into gold? Yeah. 444 00:23:50,220 --> 00:23:54,340 So when you value the idea of a hard asset, the hardness of an 445 00:23:54,340 --> 00:23:58,980 asset is determined by how long does it take to get the current 446 00:23:59,020 --> 00:24:03,060 on ground supply that's on this earth out of the ground again. 447 00:24:03,560 --> 00:24:08,960 So if it takes 60 years, like it does for gold of new supply, 448 00:24:08,960 --> 00:24:12,440 yearly supply to get as much gold as we have on the ground 449 00:24:12,440 --> 00:24:15,880 right now, that has a ranking and it's 60. 450 00:24:16,600 --> 00:24:19,840 Real estate has a different ranking, it's 125, right? 451 00:24:19,840 --> 00:24:23,040 Silver has a different ranking. It's like 3 to 15 years, 452 00:24:23,040 --> 00:24:28,040 something like that. So the higher this number is, 453 00:24:28,040 --> 00:24:30,880 the harder this asset is because it's harder to get it out of the 454 00:24:30,880 --> 00:24:32,820 ground. And replace the own ground 455 00:24:32,820 --> 00:24:35,100 supply that's stock to flow. Simple as that. 456 00:24:35,700 --> 00:24:37,340 You don't need to worry about stock to flow model. 457 00:24:37,340 --> 00:24:38,580 You don't need to worry about nothing. 458 00:24:39,140 --> 00:24:43,820 And what we find in a weird way as humans is that our capital, 459 00:24:43,820 --> 00:24:47,380 naturally, without even knowing this, goes towards the hardest 460 00:24:47,380 --> 00:24:49,380 asset. It's why real estate has the 461 00:24:49,380 --> 00:24:52,940 biggest market cap in the world. It's why stocks are next, It's 462 00:24:52,940 --> 00:24:55,860 why gold is next, it's why silver's, silver's next, etc 463 00:24:55,860 --> 00:24:59,540 etc. We always assign our capital, 464 00:24:59,540 --> 00:25:02,690 naturally. To the hardest asset and that's 465 00:25:02,690 --> 00:25:07,130 why it's been real estate and is that because we want to save the 466 00:25:07,810 --> 00:25:11,530 energy that we accumulate with our work, right or with our 467 00:25:11,530 --> 00:25:14,570 ventures in time, right? That's right. 468 00:25:14,570 --> 00:25:18,090 So what we're doing when we are looking at what do we do with 469 00:25:18,090 --> 00:25:21,250 our money is very simple. We are expending our physical 470 00:25:21,250 --> 00:25:24,090 energy and receiving currency for that. 471 00:25:24,510 --> 00:25:27,710 And then we need to put that currency into a battery in order 472 00:25:27,710 --> 00:25:30,630 to save that energy. And the battery of choice is the 473 00:25:30,630 --> 00:25:33,830 battery that can be changed the least, which is the hardness of 474 00:25:33,830 --> 00:25:36,750 the asset. And so far in humanity, that 475 00:25:36,750 --> 00:25:38,870 asset has chosen to be real estate. 476 00:25:40,270 --> 00:25:43,950 Yes. All right, so when we make the 477 00:25:43,950 --> 00:25:47,590 jump to Bitcoin, right, like we talked about the system, we 478 00:25:47,590 --> 00:25:52,830 talked about why people want to save money in these types of 479 00:25:52,830 --> 00:25:53,980 assets. How? 480 00:25:54,060 --> 00:25:58,460 How does Bitcoin offer a solution for the the problems 481 00:25:58,460 --> 00:26:01,260 that people encounter with with this current system? 482 00:26:02,340 --> 00:26:05,820 Many different ways. So you've got the the biggest 483 00:26:05,820 --> 00:26:08,180 challenge is for is for people to understand what you're 484 00:26:08,180 --> 00:26:09,820 actually buying. When you buy a property or 485 00:26:09,820 --> 00:26:12,340 stocks or anything else. People think you're buying 486 00:26:12,340 --> 00:26:15,460 property, you're not. You're buying scarcity, you're 487 00:26:15,460 --> 00:26:19,140 buying how long it takes for somebody to build another 488 00:26:19,140 --> 00:26:21,620 property. Because if I bought an apartment 489 00:26:21,620 --> 00:26:24,220 building. And tomorrow, someone else could 490 00:26:24,220 --> 00:26:26,420 also put an apartment building right next to it. 491 00:26:26,420 --> 00:26:28,180 The value of my property would be less. 492 00:26:28,500 --> 00:26:32,540 But because the very fact that it takes time to get approved, 493 00:26:32,580 --> 00:26:35,300 it takes time for that to happen, is what gives my 494 00:26:35,300 --> 00:26:38,740 property value. So scarcity is the actual asset. 495 00:26:38,740 --> 00:26:41,340 It's not the property, it's not the stock, it's not anything 496 00:26:41,340 --> 00:26:44,180 else, right? It's like how easy or hard it is 497 00:26:44,180 --> 00:26:46,580 for someone else to acquire it as well. 498 00:26:46,780 --> 00:26:48,860 To build it. To just build in this case. 499 00:26:49,100 --> 00:26:51,620 Build, You know, get it out of the ground. 500 00:26:51,940 --> 00:26:56,060 With the ground exactly. So once you understand that 501 00:26:56,060 --> 00:27:00,980 scarcity is the actual true asset, at that point your only 502 00:27:00,980 --> 00:27:05,100 question, next question is what's the scarcest asset And 503 00:27:05,100 --> 00:27:08,460 logically you get to fact that Bitcoin is the scarcest asset 504 00:27:08,460 --> 00:27:11,340 because there is only ever going to be 21 million Bitcoin. 505 00:27:12,770 --> 00:27:14,130 Right. And the beautiful thing about 506 00:27:14,130 --> 00:27:17,170 Bitcoin is that every Bitcoin can be split into 100 million 507 00:27:17,170 --> 00:27:19,330 parts. Which means that whether you're 508 00:27:19,330 --> 00:27:24,170 a street sweeper, you know, working in a corporate job, a 509 00:27:24,170 --> 00:27:27,730 millionaire or a multi billionaire, you could own the 510 00:27:27,730 --> 00:27:31,530 same asset with the lowest amount of cost differential 511 00:27:32,570 --> 00:27:34,530 compared to anything else. Because if a billionaire wants 512 00:27:34,530 --> 00:27:38,170 to buy property, he's going to get it at a lower cost than 513 00:27:38,170 --> 00:27:40,930 somebody who's on the street. Gotcha. 514 00:27:41,570 --> 00:27:44,930 And so I also have a question about this finite supply. 515 00:27:44,930 --> 00:27:48,530 We'll get into that maybe one step back when we think about, 516 00:27:48,530 --> 00:27:52,010 you know, saving that energy for the future basically also comes 517 00:27:52,010 --> 00:27:55,450 from if I don't have anything that I want or need to spend it 518 00:27:55,450 --> 00:27:58,970 on then I should have a vehicle through to actually you know 519 00:27:59,810 --> 00:28:07,110 save that to the to the future. What do you think that the 520 00:28:07,670 --> 00:28:11,430 current kind of like I like this term like time value of money, 521 00:28:11,630 --> 00:28:15,390 you know, I think well the author of the Bitcoin Standard 522 00:28:15,390 --> 00:28:16,790 book talks about that as well, right? 523 00:28:16,790 --> 00:28:21,870 Like short time preference or long time preference where he 524 00:28:21,870 --> 00:28:27,390 talks about the money or the wealth, the energy is melting, 525 00:28:27,390 --> 00:28:30,430 so you have a short time preference, so you have to spend 526 00:28:30,430 --> 00:28:34,930 this money. What do you think these concepts 527 00:28:34,930 --> 00:28:37,850 say about like the perception of of time for people? 528 00:28:37,850 --> 00:28:41,490 Like I think it's also in a Bitcoin standard where he talks 529 00:28:41,490 --> 00:28:43,730 about, well if you have a long time preference, you can 530 00:28:43,730 --> 00:28:47,130 actually be happier, have less stress, you know you can 531 00:28:47,130 --> 00:28:50,050 actually plan your life basically. 532 00:28:50,050 --> 00:28:51,770 Like what are your thoughts around that? 533 00:28:52,370 --> 00:28:55,730 Yeah, I think definitely, like, the longer you think how the 534 00:28:55,730 --> 00:28:58,690 happier you are because at least you have purpose. 535 00:28:58,690 --> 00:29:00,930 That's the problem right now with a lot of young people is, 536 00:29:00,930 --> 00:29:05,980 they think, living for now. Is is the right thing to do, but 537 00:29:05,980 --> 00:29:08,660 the problem is, is that when you live for now, you have no long 538 00:29:08,660 --> 00:29:11,900 term purpose and human beings, especially young men, need 539 00:29:11,900 --> 00:29:13,860 purpose. Yeah. 540 00:29:14,020 --> 00:29:18,100 Right. And so, yeah, having something 541 00:29:18,100 --> 00:29:21,260 that you can put your wealth into, that you can have a vision 542 00:29:21,260 --> 00:29:22,700 of. You know, quote UN quote, 543 00:29:22,700 --> 00:29:26,140 spending later and what it's going to give you. 544 00:29:26,180 --> 00:29:29,180 And etc, etc. Allows you to have an anchor in 545 00:29:29,180 --> 00:29:31,260 the universe that you can build something around. 546 00:29:31,540 --> 00:29:34,420 Most people don't have that. They're absolutely purposeless, 547 00:29:34,420 --> 00:29:36,980 and that doesn't give them any anchor to build something 548 00:29:36,980 --> 00:29:38,260 around. Most people's purpose is their 549 00:29:38,260 --> 00:29:39,740 job. Think about that. 550 00:29:40,180 --> 00:29:44,300 So do they feel unsafe then? Like not safe enough to you just 551 00:29:44,300 --> 00:29:47,780 feel actually have that. Just feel lost you Just when 552 00:29:47,780 --> 00:29:49,780 you're when you're in that state, you feel lost. 553 00:29:50,320 --> 00:29:52,680 And the beautiful thing about feeling lost is if I can make 554 00:29:52,680 --> 00:29:55,120 you feel lost, I can make you follow me quickly. 555 00:29:57,000 --> 00:29:58,880 And that's where the system comes back into play. 556 00:30:00,240 --> 00:30:04,640 So if we translate this into how can we help people? 557 00:30:04,800 --> 00:30:10,800 What is your preferred way or mental model to explain Bitcoin 558 00:30:10,800 --> 00:30:14,120 then? Well, you are working. 559 00:30:14,480 --> 00:30:18,000 You are exchanging your physical energy for currency. 560 00:30:18,750 --> 00:30:21,790 And that currency needs to be stored somewhere in order for 561 00:30:21,790 --> 00:30:24,950 you to spend it tomorrow. If you don't think it needs to 562 00:30:24,950 --> 00:30:28,350 be stored somewhere for you to spend it tomorrow, have the best 563 00:30:28,350 --> 00:30:31,070 life possible, Go do whatever you want to do. 564 00:30:31,790 --> 00:30:35,430 But if you believe that your work today should be valued 565 00:30:35,430 --> 00:30:38,790 tomorrow, and the energy that you've converted from your work 566 00:30:38,790 --> 00:30:41,950 today should be valued tomorrow, well, now you need a battery. 567 00:30:42,860 --> 00:30:45,340 And now the question is which battery are you going to use? 568 00:30:45,340 --> 00:30:48,300 And now we can argue about that. The problem with real estate as 569 00:30:48,300 --> 00:30:51,220 a battery is that they tell you this is the capacity of the 570 00:30:51,220 --> 00:30:53,860 battery and then they keep increasing the capacity of the 571 00:30:53,860 --> 00:30:57,580 battery, right? And your wealth, your currency 572 00:30:57,580 --> 00:31:00,340 is not going up fast enough to maintain that percentage that 573 00:31:00,340 --> 00:31:02,900 you own. So it's devaluing your energy. 574 00:31:03,540 --> 00:31:07,340 So if you need a battery like that, well, Bitcoin might be the 575 00:31:07,340 --> 00:31:08,780 best battery that you're looking for. 576 00:31:09,500 --> 00:31:15,140 Yeah, So when people want to eventually adopt Bitcoin, they 577 00:31:15,500 --> 00:31:20,140 have to learn, I think two things that they are not 578 00:31:20,140 --> 00:31:23,700 thinking about now, right They have to learn to trust a 579 00:31:23,780 --> 00:31:28,860 computer code basically. But also they have to trust 580 00:31:29,540 --> 00:31:31,380 themselves. Like I have a few millionaire 581 00:31:31,380 --> 00:31:32,900 friends that I'm trying to Orange Bill. 582 00:31:32,900 --> 00:31:35,220 I haven't had any luck, honestly. 583 00:31:35,700 --> 00:31:39,060 But one of them said, well, what if I have a million in Bitcoin 584 00:31:39,500 --> 00:31:47,510 and then I have like full agency over keeping that safe, full 585 00:31:47,510 --> 00:31:48,830 responsibility? Basically, yeah. 586 00:31:48,910 --> 00:31:52,350 This is why the ETF is so big for me. 587 00:31:52,350 --> 00:31:55,230 I've been saying this since 2021. 588 00:31:56,290 --> 00:31:59,930 In fact, 2020 the ETF is extremely big news because most 589 00:31:59,930 --> 00:32:02,970 people are not comfortable having a bearer instrument. 590 00:32:02,970 --> 00:32:06,690 Bitcoin is a bearer instrument, so that means you own it, right? 591 00:32:07,530 --> 00:32:11,690 You have it on you, right? You bear it, you control it, you 592 00:32:11,690 --> 00:32:16,130 you're responsible for it. And and by the way, name another 593 00:32:16,130 --> 00:32:21,810 big market cap asset that's a bearer instrument, Yeah. 594 00:32:22,370 --> 00:32:25,690 There is none, right? It's all abstractions you mean? 595 00:32:25,730 --> 00:32:27,850 Yeah, real estate's not a bearer instrument. 596 00:32:28,730 --> 00:32:31,650 Yeah, stocks are not a bearer instrument, right? 597 00:32:31,650 --> 00:32:34,290 To a certain extent, the way gold is mostly owned is not a 598 00:32:34,290 --> 00:32:38,370 bearer instrument like Jewels watches maybe. 599 00:32:38,730 --> 00:32:40,330 They're not big enough. They're not big enough for 600 00:32:40,730 --> 00:32:42,490 market cap. I agree watches are a bearer 601 00:32:42,490 --> 00:32:44,250 instrument, but there's not a big enough market cap. 602 00:32:44,890 --> 00:32:48,810 So most assets that turn into a big market cap are not bearer 603 00:32:48,810 --> 00:32:51,290 instruments, which is why the ETF is so important. 604 00:32:51,290 --> 00:32:53,970 Because just like your friend, I have those same friends that are 605 00:32:53,970 --> 00:32:56,490 so worried about, you know, losing their Bitcoin, they'll 606 00:32:56,490 --> 00:32:58,010 only buy it once the ETF comes out. 607 00:32:58,010 --> 00:33:01,450 Which is why the capital flow that's going to come as soon as 608 00:33:01,450 --> 00:33:04,210 this ETF is approved is immense. And nobody's, nobody's really 609 00:33:04,210 --> 00:33:06,370 thinking about that, which is why I try and talk about it as 610 00:33:06,370 --> 00:33:09,770 much as I can. Yeah, let's dive into that in a 611 00:33:09,770 --> 00:33:12,130 second, because I had, I had a question about that too. 612 00:33:13,620 --> 00:33:15,820 What I actually wanted to ask about, you know that that 613 00:33:15,820 --> 00:33:19,180 trusting new things, like, it's kind of like a paradigm shift in 614 00:33:19,180 --> 00:33:22,100 thinking, right? Like if you understand why you 615 00:33:22,100 --> 00:33:26,700 need Bitcoin as a vehicle to save your energy to the future, 616 00:33:26,700 --> 00:33:30,660 and you have to you have to trust a computer and also 617 00:33:30,660 --> 00:33:34,140 yourself, you know, what does that say about the concept of 618 00:33:34,140 --> 00:33:37,060 trust in, you know, our current society? 619 00:33:37,300 --> 00:33:39,260 People don't have trust in themselves, so. 620 00:33:40,050 --> 00:33:41,810 How can you? How can you even expect them to 621 00:33:41,810 --> 00:33:44,770 have trust in themselves when all they've done their entire 622 00:33:44,770 --> 00:33:49,610 life is trusted their teachers right, then, trusted their 623 00:33:49,610 --> 00:33:53,130 professors and then trusted their bosses, and then trusted 624 00:33:53,170 --> 00:33:56,210 everyone around them to direct their life besides them? 625 00:33:57,330 --> 00:33:59,530 They're not trained. You have to train yourself to 626 00:33:59,530 --> 00:34:03,230 trust yourself. But nobody has been, has had 627 00:34:03,230 --> 00:34:05,710 that training. Nobody has ever gone out there 628 00:34:05,710 --> 00:34:08,989 and said I'm just going to put my own bulls on the line and do 629 00:34:08,989 --> 00:34:11,270 what I want to do. They go to university because 630 00:34:11,270 --> 00:34:12,870 people tell them to go to university. 631 00:34:13,030 --> 00:34:15,510 They go get a job because people tell them they this is the job. 632 00:34:15,750 --> 00:34:17,710 There's already a very few people in the world that 633 00:34:17,710 --> 00:34:20,710 actually say I want X and I'm going to go do it. 634 00:34:22,750 --> 00:34:26,670 So what are some first principles that people could 635 00:34:26,670 --> 00:34:31,370 follow to maybe get to that point where they can unlearn 636 00:34:31,370 --> 00:34:35,010 these things or see themselves or the world in a different way? 637 00:34:35,210 --> 00:34:37,530 It's tough. It's tough because the world 638 00:34:37,530 --> 00:34:40,489 makes it so safe to be in that in that realm. 639 00:34:40,489 --> 00:34:42,530 I don't even, you know, it's it's quite interesting. 640 00:34:42,530 --> 00:34:46,250 I don't even talk about like what are the first principles 641 00:34:46,449 --> 00:34:50,850 because I think that if you have it, you're gonna do it. 642 00:34:50,850 --> 00:34:52,130 Because I can't tell you what to do. 643 00:34:52,290 --> 00:34:55,770 You couldn't tell me what to do because I I just, I had 644 00:34:55,770 --> 00:34:58,410 something right. I had something that was like. 645 00:34:58,930 --> 00:35:02,410 My dad, I my dad was negotiating a property deal when I was 15 646 00:35:02,410 --> 00:35:04,490 years old and I was watching him and he got off. 647 00:35:04,810 --> 00:35:07,970 He got off the phone and I was smirking and he said what are 648 00:35:07,970 --> 00:35:10,730 you smirking about? And I said, that looks easy. 649 00:35:12,210 --> 00:35:15,050 At 15 right now. The best gift my dad ever gave 650 00:35:15,050 --> 00:35:16,690 me was he didn't tell me to get fucked. 651 00:35:16,690 --> 00:35:19,490 He said, well show me if it's that easy, show me. 652 00:35:20,330 --> 00:35:24,090 So I had something at 15 years old where even though my mouth 653 00:35:24,090 --> 00:35:27,090 had just written a check that my my buddy had no idea how to 654 00:35:27,090 --> 00:35:30,860 cash, I had to go figure it out. Right now you're telling me that 655 00:35:30,860 --> 00:35:34,540 someone who's a millennial at 30 years old, 34 years old, 35 656 00:35:34,540 --> 00:35:39,700 years old, who's got a family, a child, a job so ingrained into 657 00:35:39,700 --> 00:35:43,700 the system, you're so hopelessly dependent on the system and now 658 00:35:43,700 --> 00:35:47,780 you want to figure out first principles like your best chance 659 00:35:47,780 --> 00:35:49,220 is Bitcoin. Yeah. 660 00:35:49,220 --> 00:35:50,220 Interesting. I'm I'm. 661 00:35:50,220 --> 00:35:53,780 While you're talking, I'm thinking like what what was my 662 00:35:53,780 --> 00:35:57,460 own points or what are my own things and I have to be honest 663 00:35:57,850 --> 00:36:02,370 to say that I also don't, right. I can't really identify it. 664 00:36:02,370 --> 00:36:04,290 I don't know. It's kind of like a gradual, 665 00:36:04,570 --> 00:36:07,010 yeah. Every time, every time somebody 666 00:36:07,090 --> 00:36:09,570 asks somebody who's done something good in life, like 667 00:36:09,810 --> 00:36:11,570 what did you, what did they all come out with? 668 00:36:11,570 --> 00:36:15,250 It's all BS. Pursue your passion. 669 00:36:15,370 --> 00:36:19,410 That's the worst advice you can give someone like read books. 670 00:36:20,090 --> 00:36:22,730 What are we talking about? It's all bullshit, but nobody 671 00:36:22,730 --> 00:36:25,850 has the answer because if you're listening to others instead of 672 00:36:25,850 --> 00:36:27,450 yourself that like like what you? 673 00:36:27,450 --> 00:36:30,090 Mentioned Most people are too stupid to listen to. 674 00:36:30,090 --> 00:36:31,770 They They shouldn't listen to themselves because they're 675 00:36:31,770 --> 00:36:33,770 probably too stupid to do it right. 676 00:36:33,890 --> 00:36:35,850 Because what? You can only listen to your own 677 00:36:35,850 --> 00:36:37,970 wisdom once you have some wisdom, right? 678 00:36:37,970 --> 00:36:40,690 I had to go fail. I had to actually pick up the 679 00:36:40,690 --> 00:36:44,850 damn phone, call someone who wanted to sell property and 680 00:36:44,850 --> 00:36:49,270 fail. At 16 years old, over and over 681 00:36:49,270 --> 00:36:52,150 and over and over again, in order to train myself to read 682 00:36:52,150 --> 00:36:55,390 the patterns of what might be successful, how do you expect 683 00:36:55,390 --> 00:36:58,430 someone to do that when they're 35 years old, with two kids, a 684 00:36:58,430 --> 00:37:00,630 wife and all those responsibilities? 685 00:37:01,910 --> 00:37:03,390 I agree. Very, very hard. 686 00:37:04,790 --> 00:37:07,390 So Bitcoin. That's why Bitcoin is the only 687 00:37:07,390 --> 00:37:10,070 self teaching tool that will allow you to do that, yeah. 688 00:37:10,670 --> 00:37:14,030 Basically, here's what it is You need to get comfortable with 689 00:37:14,030 --> 00:37:18,130 proving yourself right. And guess what that takes? 690 00:37:18,810 --> 00:37:21,410 It takes risk. It takes heartbreak. 691 00:37:21,610 --> 00:37:23,770 It takes telling everyone to get fucked. 692 00:37:24,130 --> 00:37:26,770 It takes all of that. And most people don't have the 693 00:37:26,770 --> 00:37:30,450 bandwidth to do that because the system is, it has has got them. 694 00:37:32,810 --> 00:37:34,130 Yeah. I find it so interesting when 695 00:37:34,130 --> 00:37:38,530 you say risk, like I I think I also once I once tweeted this 696 00:37:38,530 --> 00:37:42,770 like I have Bitcoin because I'm pretty risk averse actually. 697 00:37:43,450 --> 00:37:46,830 Yeah. And it kind of ties in back back 698 00:37:46,830 --> 00:37:50,030 into what you said about, you know, like when you take risk 699 00:37:50,030 --> 00:37:52,310 with a venture or a job and you earn money and then you have to 700 00:37:52,310 --> 00:37:56,190 take more risk to actually protect what you just got 701 00:37:56,190 --> 00:37:59,670 rewarded for taking risk. And I just really think like I 702 00:37:59,670 --> 00:38:03,590 don't want to do that. You know, like I don't, I don't 703 00:38:03,590 --> 00:38:06,910 want to do that. But still I do think I'm taking 704 00:38:06,910 --> 00:38:11,510 a risk by adopting this new thing, right. 705 00:38:11,950 --> 00:38:17,140 And honestly, not totally understanding what's kind of 706 00:38:17,140 --> 00:38:22,260 more like the meta play, the bigger play is of these 707 00:38:22,260 --> 00:38:24,420 financial institutions and what's going to happen. 708 00:38:24,420 --> 00:38:27,660 And I want to recommend one of your last videos where you share 709 00:38:28,900 --> 00:38:33,420 about what the BlackRock plan is and this is one of my next 710 00:38:33,540 --> 00:38:35,860 questions. But I think it's a nice 711 00:38:35,860 --> 00:38:40,640 reflection to to think about what am I actually doing. 712 00:38:40,640 --> 00:38:43,600 But I think in general that is what Bitcoin does, you know? 713 00:38:43,680 --> 00:38:48,560 The biggest gift that Bitcoin will give most millennials that 714 00:38:48,560 --> 00:38:53,440 actually get it and do it is the gift of being right, yes. 715 00:38:53,720 --> 00:38:59,120 Right when I negotiated my first property deal and I basically 716 00:38:59,120 --> 00:39:02,880 pivoted from trying to deal with distressed sellers to just going 717 00:39:02,880 --> 00:39:05,920 straight to developers because I was like, well. 718 00:39:06,410 --> 00:39:09,730 There are distressed homeowners and there are distressed 719 00:39:09,890 --> 00:39:12,330 property developers. And the distressed property 720 00:39:12,330 --> 00:39:15,530 developers are easy to deal with as a 16 year old because I don't 721 00:39:15,530 --> 00:39:18,610 give a shit. And I can't be as emotionally 722 00:39:18,610 --> 00:39:21,890 empathetic as my dad could be when he's talking to a 723 00:39:21,890 --> 00:39:24,570 distressed seller because I cannot relate. 724 00:39:25,730 --> 00:39:28,050 But I can relate to a property developer who's distressed 725 00:39:28,050 --> 00:39:30,530 because I can say, oh, you got 25 units to suck and sell those 726 00:39:30,530 --> 00:39:34,890 in 30 days, right? I can relate to that so. 727 00:39:36,910 --> 00:39:38,910 And that was found. That was that was actually 728 00:39:38,910 --> 00:39:41,510 ridiculed at the beginning when I decided to try and make that 729 00:39:41,510 --> 00:39:47,870 pivot at 16. There is nothing sweeter than 730 00:39:47,870 --> 00:39:50,950 actually just doing that and telling everyone that was 731 00:39:50,950 --> 00:39:53,670 laughing at me to get fucked because I was right. 732 00:39:54,590 --> 00:39:58,430 The biggest gift Bitcoin will give to millennials is that 733 00:39:58,430 --> 00:40:04,290 first boost of I'm right. That's 100%. 734 00:40:04,290 --> 00:40:06,930 This is something I also want to share to the people listening. 735 00:40:06,930 --> 00:40:11,370 Like why I got I got into Bitcoin gradually Bitcoin 736 00:40:11,490 --> 00:40:14,570 gradually more and more and more over time, like over the past 10 737 00:40:14,570 --> 00:40:16,770 years. But once I saw a tweet, I don't, 738 00:40:16,810 --> 00:40:20,650 I don't remember who it was by. But they said if you even 739 00:40:20,650 --> 00:40:24,410 remotely think Bitcoin is going to be a thing, you know, like an 740 00:40:24,490 --> 00:40:28,330 actual, like like the, you know, the big teases of sucking up all 741 00:40:28,330 --> 00:40:31,410 the, you know, wealth in the world and and etc. 742 00:40:32,280 --> 00:40:35,720 Do you want to be in the stadium and have a seat when that 743 00:40:35,720 --> 00:40:39,040 happens or not? And I read that and I thought 744 00:40:39,240 --> 00:40:42,680 that is what I want because I want to be at the point that you 745 00:40:42,680 --> 00:40:45,800 just illustrated. When that happens, I am sitting 746 00:40:45,800 --> 00:40:50,080 there with my popcorn and I think maybe there will be a tear 747 00:40:50,080 --> 00:40:53,360 because I'm just, I will be proud of myself that I'm right. 748 00:40:53,520 --> 00:40:56,040 You know, That is exactly, exactly what you're saying. 749 00:40:56,460 --> 00:40:58,860 Yeah, that's why it's very important for young people to 750 00:40:58,860 --> 00:41:02,540 stack up as much of these I'm right moments at a young age. 751 00:41:02,980 --> 00:41:05,060 You know, I plan on having children one day. 752 00:41:06,260 --> 00:41:09,740 And from my experience, that's exactly what I'll try and create 753 00:41:09,740 --> 00:41:12,100 for them, that experience of I'm right. 754 00:41:12,460 --> 00:41:14,020 Yeah. Fuck you. 755 00:41:14,140 --> 00:41:17,100 I'm right. That's very, very important for 756 00:41:17,100 --> 00:41:18,900 young people. And I thought I wasn't before, 757 00:41:19,020 --> 00:41:21,700 but then I thought I was. And then I got shown and I was 758 00:41:21,700 --> 00:41:22,020 right. Yeah. 759 00:41:22,100 --> 00:41:24,900 So young young people don't have many of these. 760 00:41:25,810 --> 00:41:27,930 Right. And they've and they've not been 761 00:41:28,330 --> 00:41:31,290 young people. We have not been given the 762 00:41:31,290 --> 00:41:34,250 ability to have these moments. We've either had to go take them 763 00:41:34,250 --> 00:41:36,370 and create them or we just don't. 764 00:41:37,370 --> 00:41:40,170 Yeah, I agree. That's why do you think when you 765 00:41:40,170 --> 00:41:43,330 know when, back in the day when when young kid, young boys were 766 00:41:43,330 --> 00:41:44,650 becoming men, what do they have to do? 767 00:41:45,490 --> 00:41:48,810 Yeah, hard stuff, that initiation anything. 768 00:41:48,810 --> 00:41:51,770 Quite a lion, right? Because then why? 769 00:41:51,770 --> 00:41:54,850 Because what that emboldens inside of you is that I'm right. 770 00:41:55,280 --> 00:41:56,600 I won. I write. 771 00:41:56,600 --> 00:41:58,840 I'm right that they got out of it, that they went through it, 772 00:41:58,840 --> 00:42:00,080 you mean? I'm right. 773 00:42:00,680 --> 00:42:04,320 And so that's what that's what young, young young men need. 774 00:42:05,000 --> 00:42:06,800 And I don't think we have many of those things. 775 00:42:06,880 --> 00:42:11,400 I found the source of those things through business and real 776 00:42:11,400 --> 00:42:12,480 estate. It just depends. 777 00:42:12,480 --> 00:42:15,240 Some people find the source of those things through something 778 00:42:15,240 --> 00:42:16,720 else. You're certainly not going to 779 00:42:16,720 --> 00:42:19,080 find the source of those things through fucking chakra 780 00:42:19,080 --> 00:42:23,130 cleansing, right? All right. 781 00:42:23,810 --> 00:42:29,410 I love that. When we move to back to Bitcoin 782 00:42:29,690 --> 00:42:32,730 kindish again. You know, you talk and you press 783 00:42:32,730 --> 00:42:36,930 very hard on this finite supply of Bitcoin and we briefly 784 00:42:37,810 --> 00:42:40,490 touched on it right when you talked about heart as it's how 785 00:42:40,490 --> 00:42:43,890 hard is it to make another one. You know, how predictable is a 786 00:42:43,890 --> 00:42:46,850 certain type of supply? You really press on like finite 787 00:42:46,850 --> 00:42:52,210 supply, something that is very rare. 788 00:42:52,450 --> 00:42:55,330 Maybe this is even the 1st and the only time that we actually 789 00:42:55,330 --> 00:42:58,010 have something that has a finite supply. 790 00:42:58,010 --> 00:43:01,370 So ending supply. Can you explain why it's so 791 00:43:01,370 --> 00:43:03,170 important and why? Why? 792 00:43:03,250 --> 00:43:04,370 Why? It's hard for people to wrap 793 00:43:04,610 --> 00:43:07,250 their head around that. Yeah, because, you know, 794 00:43:07,250 --> 00:43:09,330 everyone thinks property is a finite supply. 795 00:43:09,330 --> 00:43:13,090 But it's a lie because my dad, who came to the United Kingdom, 796 00:43:14,290 --> 00:43:18,810 you know, almost 4 decades ago. Yeah. 797 00:43:18,890 --> 00:43:20,090 Yeah. So it's like. 798 00:43:22,440 --> 00:43:29,280 He could buy 10 properties. Me, 40 years later, if I want 799 00:43:29,280 --> 00:43:32,520 to, I can buy 10 properties. There might not be the same 800 00:43:32,520 --> 00:43:34,920 property, they might not be in the same place. 801 00:43:34,920 --> 00:43:38,160 But I can still buy 10 properties with Bitcoin. 802 00:43:38,160 --> 00:43:42,280 That's completely impossible. It's completely impossible 803 00:43:42,280 --> 00:43:44,760 because you can't just make more Bitcoin and put it in the side 804 00:43:44,760 --> 00:43:47,560 of the universe where it just has a lower price. 805 00:43:47,840 --> 00:43:50,080 Can't do it. I can buy. 806 00:43:51,790 --> 00:43:57,710 Maybe 10,000 Satoshi's I can buy, maybe a million Satoshi's. 807 00:43:58,110 --> 00:44:02,830 But I'm never going to be able to buy a whole Bitcoin and out 808 00:44:02,830 --> 00:44:05,870 of the miraculous, right? Like, let's say I become, you 809 00:44:05,870 --> 00:44:12,230 know, a tech multibillionaire. Now I can go and buy the same 10 810 00:44:12,230 --> 00:44:15,870 properties that my dad bought because I have the extra amount 811 00:44:15,870 --> 00:44:18,790 of of paper to do it outside of the miraculous. 812 00:44:20,180 --> 00:44:21,620 I can't. I can't do it. 813 00:44:22,260 --> 00:44:24,060 So that's that's what Bitcoin is. 814 00:44:24,100 --> 00:44:28,700 Unlike property, unlike stocks. I can't just go buy as something 815 00:44:28,700 --> 00:44:30,860 that looks like this. It's not possible. 816 00:44:31,580 --> 00:44:35,740 And does that also tie into what people call the, you know, the 817 00:44:35,740 --> 00:44:39,300 game theory of Bitcoin, where once it's bought, I think over 818 00:44:39,300 --> 00:44:43,620 70% of Bitcoin haven't moved in 18 months or 24 months even, 819 00:44:44,140 --> 00:44:48,700 like once it's bought by someone who understands it will never be 820 00:44:48,700 --> 00:44:51,520 on the market again? You know, This is why I get 821 00:44:51,520 --> 00:44:54,720 worried now because the the type of buyer that's coming into 822 00:44:54,720 --> 00:44:59,960 Bitcoin next is a scary buyer. You know one of the things, so I 823 00:44:59,960 --> 00:45:03,520 collect watches, right? And you know the one of the when 824 00:45:03,520 --> 00:45:06,560 I'm smoking cigars with a with with a bunch of my friends, 825 00:45:06,560 --> 00:45:11,000 one's name is Adam. And and the one thing I love 826 00:45:11,000 --> 00:45:15,320 about Adam is that we can just be honest about the fact that 827 00:45:15,400 --> 00:45:18,640 it's just the childlike behavior that we want. 828 00:45:19,190 --> 00:45:21,830 Fuck the watches. Yeah, having a having that watch 829 00:45:21,830 --> 00:45:25,070 is nice, but the fact that he got it before me or that I have 830 00:45:25,510 --> 00:45:28,870 it is what's fun or for list or not or yeah. 831 00:45:28,870 --> 00:45:30,670 Whatever, right? Like, that's what's fun. 832 00:45:30,670 --> 00:45:33,470 It's a. Game It's like me and Adam have 833 00:45:33,470 --> 00:45:37,150 a war about which which chair we're gonna sit in in the cigar 834 00:45:37,150 --> 00:45:41,030 lounge. Like I like there's only one 835 00:45:41,030 --> 00:45:43,310 chair that has the view of the whole cigar lounge. 836 00:45:43,390 --> 00:45:46,670 And every single time he'll send me a picture of that chair and 837 00:45:46,670 --> 00:45:48,070 he say this chair has my name on it. 838 00:45:48,520 --> 00:45:51,640 And then I'll go there, sit on the same chair and take a 839 00:45:51,640 --> 00:45:55,760 picture and said fuck you, this is all childish bullshit, but 840 00:45:55,760 --> 00:45:58,560 that's what that's what's fun. Once you have a certain amount 841 00:45:58,560 --> 00:46:01,400 of money and we're about to enter the buyers for Bitcoin, 842 00:46:01,400 --> 00:46:04,440 that will be able to look you in the face and say I have one 843 00:46:04,440 --> 00:46:08,120 Bitcoin, you don't fuck you. And so that's when we move on to 844 00:46:08,120 --> 00:46:13,120 the ETF's. Can you shortly explain what an 845 00:46:13,120 --> 00:46:16,960 ETF is and and what is happening here and what your thoughts are 846 00:46:16,960 --> 00:46:18,090 on it? Yeah. 847 00:46:18,090 --> 00:46:22,410 So an ETF is, imagine a company that owns a particular asset. 848 00:46:23,370 --> 00:46:27,090 The only thing that company owns is that particular asset and you 849 00:46:27,090 --> 00:46:28,850 get to buy shares in that company. 850 00:46:29,290 --> 00:46:32,210 That's an ETF. So the value of your shares is 851 00:46:32,210 --> 00:46:35,250 going to be completely related to the value of the assets in 852 00:46:35,250 --> 00:46:38,040 the company. So the difference here is 853 00:46:38,040 --> 00:46:40,840 instead of you having to control that Bitcoin and actually take 854 00:46:40,840 --> 00:46:43,840 custody of it, the ETF will do that and be responsible. 855 00:46:43,840 --> 00:46:46,680 And there are great regulations in the US to allow people to do 856 00:46:46,680 --> 00:46:49,920 this and they make money on fees or. 857 00:46:49,960 --> 00:46:51,880 Yes. So they'll charge you a small 858 00:46:51,880 --> 00:46:54,200 fee for doing all the work, all right. 859 00:46:54,480 --> 00:46:58,360 And so you pay that continuously when you hold the shares or when 860 00:46:58,360 --> 00:46:59,920 you buy it? Yeah. 861 00:46:59,920 --> 00:47:04,600 So you'll pay that on an annual basis or whatever it is based on 862 00:47:05,080 --> 00:47:08,440 this and it will just come out of your holdings, All right. 863 00:47:08,440 --> 00:47:13,640 So that ETF is basically a claim on that asset in that sense. 864 00:47:13,880 --> 00:47:14,720 Yeah. All right. 865 00:47:15,320 --> 00:47:16,720 And So what we have in the US is. 866 00:47:16,760 --> 00:47:18,600 Actually not. Technically, it's not a claim on 867 00:47:18,880 --> 00:47:20,560 that. It's a representation or. 868 00:47:20,560 --> 00:47:21,480 That right. Yeah. 869 00:47:21,480 --> 00:47:23,040 It's an abstract. Yeah. 870 00:47:23,200 --> 00:47:24,800 OK. And so those are tradable, 871 00:47:24,880 --> 00:47:28,040 right, the. Yes, I can now trade my shares 872 00:47:28,040 --> 00:47:30,280 to you and yes, exactly. Yeah, OK. 873 00:47:30,480 --> 00:47:33,480 It can happen all over, all over the world, you know, while the 874 00:47:33,480 --> 00:47:36,440 markets are open. And that is that is the scariest 875 00:47:36,440 --> 00:47:39,120 thing to happen to Bitcoin since Bitcoin was incepted. 876 00:47:39,200 --> 00:47:43,830 Yeah, because we have 8-9. I'm not sure I. 877 00:47:44,030 --> 00:47:48,510 Don't even know too many applications for these types of 878 00:47:49,910 --> 00:47:53,150 ETF's in America. I think the second deadline is 879 00:47:53,150 --> 00:47:56,870 coming up tomorrow actually, which I don't know what the 880 00:47:56,870 --> 00:48:03,230 Bloomberg guys said, they said 858075 or 85% chance of this 881 00:48:03,230 --> 00:48:05,750 year approval. And I also saw somewhere on 882 00:48:05,750 --> 00:48:08,510 Twitter where someone said like it's like a 50% chance of 883 00:48:08,510 --> 00:48:13,300 tomorrow. I'm not sure, but like why is 884 00:48:13,300 --> 00:48:16,780 there a wall of money coming as you mentioned? 885 00:48:16,940 --> 00:48:18,660 Well, just like your friend mentioned, right? 886 00:48:18,660 --> 00:48:22,060 Like your friend who's a millionaire said to you that he 887 00:48:22,180 --> 00:48:24,660 is worried about how to look after his Bitcoin. 888 00:48:24,940 --> 00:48:27,500 Well, if there was a service where he could just go into his 889 00:48:27,500 --> 00:48:31,180 broker account that he's used to buying stocks with and tap and 890 00:48:31,180 --> 00:48:34,580 say buy the Bitcoin ETF and he gets price exposure on that, 891 00:48:34,580 --> 00:48:37,260 which is pretty much what most people only want anyway. 892 00:48:39,370 --> 00:48:41,450 It now unlocks a bunch of capital. 893 00:48:41,450 --> 00:48:44,610 Second layer to that is, you know, there's there's the top 894 00:48:44,610 --> 00:48:48,330 500 asset managers in the world control about $130 trillion of 895 00:48:48,330 --> 00:48:50,930 wealth and each and every single one of them is going to be 896 00:48:50,930 --> 00:48:53,290 incentivized to sell Bitcoin because there's now a fee 897 00:48:53,290 --> 00:48:55,450 attached to it because of the front. 898 00:48:56,050 --> 00:48:59,770 So there is a tremendous amount of capital coming to an asset 899 00:48:59,770 --> 00:49:04,610 where 80% of the assets don't move every single time it drops 900 00:49:04,610 --> 00:49:08,130 down to 85%. And the supply is about to be 901 00:49:08,130 --> 00:49:11,930 cut in half again in April. Yeah. 902 00:49:12,330 --> 00:49:16,170 So that's the flow, right? Less flow, less stock to be 903 00:49:16,170 --> 00:49:21,890 traded basically, which means well in, in your course you, you 904 00:49:21,890 --> 00:49:27,090 teach and substantiate why you have a $5,000,000 Bitcoin price. 905 00:49:27,090 --> 00:49:31,050 Maybe it changed actually now that you read some new stuff, 906 00:49:33,280 --> 00:49:34,800 let's say it gets to that price, right? 907 00:49:34,800 --> 00:49:39,600 Like I think you said, 20302032 is kind of your target ish. 908 00:49:40,120 --> 00:49:43,920 Like if someone actually holds Bitcoin as the asset, not the 909 00:49:43,920 --> 00:49:46,560 ETF, maybe also the ETF. I saw you explain it as well, 910 00:49:46,560 --> 00:49:51,000 like how can you live of how can you live of that, Like how can 911 00:49:51,000 --> 00:49:54,880 you make sure that you don't have to sell your Bitcoin? 912 00:49:55,080 --> 00:49:57,000 Yeah, there's a lot. There's a lot of ways, There's a 913 00:49:57,000 --> 00:49:59,240 lot of ways to do that. You can borrow against your 914 00:49:59,240 --> 00:50:01,000 Bitcoin. I wouldn't do it right now. 915 00:50:01,720 --> 00:50:03,800 I wouldn't do it right now. You can borrow against your 916 00:50:03,800 --> 00:50:06,640 Bitcoin. You can have the ETF right now, 917 00:50:06,640 --> 00:50:09,280 you know, most people don't realize this, but there is 918 00:50:09,280 --> 00:50:11,640 something called a stock loan, right. 919 00:50:11,640 --> 00:50:15,160 So if I have a bunch of shares, I can loan money against those 920 00:50:15,160 --> 00:50:19,160 shares pretty easily at market at you know, almost just tiny 921 00:50:19,160 --> 00:50:23,800 bit above Fed rates and that's absolutely that will be possible 922 00:50:23,800 --> 00:50:27,160 with the ETF. So there's many, many different 923 00:50:27,160 --> 00:50:29,440 ways to do that. It's just now is not the right 924 00:50:29,440 --> 00:50:35,600 time to do that, yeah, but in 20-30 those are kind of like the 925 00:50:35,600 --> 00:50:36,800 options then. Yeah. 926 00:50:36,800 --> 00:50:39,520 Cuz right now you know, when you're comparing, like I've been 927 00:50:39,520 --> 00:50:41,520 saying this since 2021, by the way, right? 928 00:50:41,520 --> 00:50:45,960 When Block Five was doing its thing and I said it's like, 929 00:50:45,960 --> 00:50:49,320 imagine you own a property and you want to rent out that 930 00:50:49,320 --> 00:50:56,240 property and you have two estate agents show up to try and get 931 00:50:56,240 --> 00:50:58,040 that contract to rent that property. 932 00:50:58,360 --> 00:51:02,190 One of them is in a sharp suit. He's absolutely respectful. 933 00:51:02,230 --> 00:51:05,110 Shakes your hand like a like a man breaks everything down for 934 00:51:05,110 --> 00:51:07,110 you logically, you know makes sense. 935 00:51:07,110 --> 00:51:12,230 Says you know, I, I, I think that we can probably get the 936 00:51:12,230 --> 00:51:15,270 market currently rents for a let's just say $1000 a month. 937 00:51:15,910 --> 00:51:19,350 We could probably end up getting you 1000 eleven $100 a month 938 00:51:19,350 --> 00:51:21,430 something like that. If you if you want to sign with 939 00:51:21,430 --> 00:51:25,870 me then the next guy rocks up. He's got a shitty car, right? 940 00:51:26,110 --> 00:51:28,710 He gets out of it. He's missing a sock, his 941 00:51:28,710 --> 00:51:30,530 trousers ripped. Right. 942 00:51:31,050 --> 00:51:33,170 You can tell that he's been doing cocaine because you can 943 00:51:33,170 --> 00:51:35,170 see a little bit of white stuff on his nose. 944 00:51:35,690 --> 00:51:37,450 He walks up to you. He shakes your hand like a 945 00:51:37,450 --> 00:51:40,530 woman, right? His hair's all over the place. 946 00:51:40,690 --> 00:51:44,010 He's fidgety all the time. He doesn't know how to have a 947 00:51:44,010 --> 00:51:46,530 conversation with you, but promises you they can get you 948 00:51:46,530 --> 00:51:51,450 $1500 a month, yeah. Who are you giving the property 949 00:51:51,450 --> 00:51:54,890 to? Well, now I would say the money. 950 00:51:56,530 --> 00:52:00,610 You would say the money. That's the that's a very 951 00:52:00,610 --> 00:52:02,570 interesting point. No, that's a good point. 952 00:52:02,850 --> 00:52:05,770 That's a very interesting point. Maybe I answer to, well, me. 953 00:52:05,770 --> 00:52:08,690 For me, I would not. I would not do that. 954 00:52:08,730 --> 00:52:12,130 I was thinking more the regular person perhaps would choose the 955 00:52:12,130 --> 00:52:13,930 money. Well, it's actually not true 956 00:52:13,970 --> 00:52:16,490 because when I asked my parents, my parents immediately said the 957 00:52:16,490 --> 00:52:19,690 person with the person who said 1100 and looks like he knows 958 00:52:19,690 --> 00:52:23,330 what he's doing right. That's a very interesting point. 959 00:52:23,330 --> 00:52:27,050 We just that that that's a good moment and that's what's 960 00:52:27,050 --> 00:52:30,700 happening right now. Block 5 showing up as that 961 00:52:30,700 --> 00:52:33,820 second guy on cocaine and telling you they can give you, 962 00:52:33,980 --> 00:52:35,660 you know, bitcoins generating you. 963 00:52:36,460 --> 00:52:40,460 I don't know, let's say bitcoins compounding at 80% a year and 964 00:52:40,460 --> 00:52:43,220 they're saying we can give you 82.5% a year. 965 00:52:43,380 --> 00:52:46,060 Yeah, but I'm. I look like I've been taking 966 00:52:46,060 --> 00:52:49,020 cocaine, my trousers ripped. There's no evidence of me being 967 00:52:49,020 --> 00:52:52,500 able to do this before. I'm just just started becoming a 968 00:52:52,500 --> 00:52:53,900 realtor, etc. Etc. 969 00:52:54,140 --> 00:52:56,260 Yeah, and people are going, oh, that makes sense. 970 00:52:58,770 --> 00:53:00,930 Right. That's why millennials will lose 971 00:53:00,930 --> 00:53:04,210 their fucking Bitcoin. Because the people like my 972 00:53:04,210 --> 00:53:06,890 parents, the boomers, have been through this before. 973 00:53:06,890 --> 00:53:10,050 They've seen all that BS before and they're not giving their 974 00:53:10,050 --> 00:53:12,770 Bitcoin up to those people, but they've been burned, of course. 975 00:53:12,770 --> 00:53:15,970 They've been burned before, so they're coming along and they're 976 00:53:15,970 --> 00:53:17,690 buying Bitcoin. They're never, ever going to 977 00:53:17,690 --> 00:53:19,570 sell it. Ever, ever. 978 00:53:20,210 --> 00:53:22,890 And they're not going to give it to anyone unless it's BlackRock, 979 00:53:23,090 --> 00:53:25,010 Goldman Sachs, someone like that. 980 00:53:25,370 --> 00:53:27,690 JP Morgan Chase, etc. Etc. 981 00:53:27,850 --> 00:53:31,970 They're not going to give it to any random idiot like Block Fi 982 00:53:32,330 --> 00:53:35,210 or Celsius. That's why millennials get 983 00:53:35,210 --> 00:53:38,450 fucked. And when do you think this is 984 00:53:38,450 --> 00:53:40,610 going to happen? This transition is happening 985 00:53:40,610 --> 00:53:42,610 right now. The buyer of Bitcoin right now 986 00:53:42,610 --> 00:53:46,530 is not the millennial because the millennial, as always, is 987 00:53:46,530 --> 00:53:50,490 too busy chasing dodge coin. I agree. 988 00:53:52,090 --> 00:53:59,390 So I wanted to ask as two last questions to to wrap up this 989 00:53:59,390 --> 00:54:02,110 convo. I actually wanted to ask like do 990 00:54:02,110 --> 00:54:04,470 you think wealth equates happiness? 991 00:54:04,710 --> 00:54:06,630 Or maybe even better, what is wealth? 992 00:54:07,390 --> 00:54:09,750 Yes, wealth. Wealth definitely equates 993 00:54:10,190 --> 00:54:13,830 happiness. Now you might say that, oh, I 994 00:54:13,830 --> 00:54:19,390 don't need wealth to be happy. Fine, but wealth definitely 995 00:54:19,390 --> 00:54:23,430 increases your happiness. That is a lie They told you. 996 00:54:23,590 --> 00:54:26,630 Oh, don't don't worry about chasing money. 997 00:54:26,630 --> 00:54:30,430 Chase happiness. That's a that's a lie. 998 00:54:31,310 --> 00:54:33,910 It's a lie. You telling me that? 999 00:54:33,950 --> 00:54:34,630 Yeah. OK. 1000 00:54:34,630 --> 00:54:38,230 Me and you both have problems. I'm broke your Ridge. 1001 00:54:38,230 --> 00:54:40,590 You don't think you're going to be happier being able to deal 1002 00:54:40,590 --> 00:54:42,390 with those problems better with that money? 1003 00:54:43,430 --> 00:54:45,590 Sure. There there are certain problems 1004 00:54:45,590 --> 00:54:47,710 in the world, like losing family members. 1005 00:54:48,400 --> 00:54:51,160 That no matter how much money you have, we're both going to go 1006 00:54:51,200 --> 00:54:53,600 through the same thing. But there's probably less than 1007 00:54:53,600 --> 00:54:58,040 ten of those problems that we can both experience at the same 1008 00:54:58,040 --> 00:55:02,200 level. Every other problem, you being 1009 00:55:02,200 --> 00:55:05,560 richer versus me being broke, is going to allow you to deal with 1010 00:55:05,560 --> 00:55:08,080 that problem better, quicker. Yeah. 1011 00:55:08,760 --> 00:55:12,640 All right, last one. What's a core belief you will 1012 00:55:12,640 --> 00:55:16,440 never let go? Oh shit, that's a really good 1013 00:55:16,440 --> 00:55:19,240 one. That above everybody else, I'm 1014 00:55:19,320 --> 00:55:22,320 right and I can figure it out. I love that. 1015 00:55:22,720 --> 00:55:24,360 Thank you. Thanks. 1016 00:55:25,120 --> 00:55:28,000 I really enjoyed this. Thanks for being my first guest. 1017 00:55:28,000 --> 00:55:30,160 I wish. You the best of luck with it. 1018 00:55:30,400 --> 00:55:32,200 Thank you. Could you please share, like 1019 00:55:32,200 --> 00:55:35,840 where people can find you? I definitely recommend, like, 1020 00:55:35,840 --> 00:55:41,720 your short e-mail video course on getting to know you better, 1021 00:55:41,720 --> 00:55:45,880 hearing your kind of like thesis around Bitcoin, yeah? 1022 00:55:46,410 --> 00:55:50,610 You know, to find me the first and only thing you need to do is 1023 00:55:50,810 --> 00:55:54,530 go to youtube.com which I'm sure everyone knows and just type in 1024 00:55:54,530 --> 00:55:58,610 British huddle start right. I will link this in the show 1025 00:55:58,610 --> 00:56:01,930 notes. Definitely yeah, thanks again so 1026 00:56:01,930 --> 00:56:04,410 much and I wish you all the best. 1027 00:56:04,410 --> 00:56:06,930 I hope to stay in touch. Thank you very much my friend. 1028 00:56:07,330 --> 00:56:10,450 Let's see you where we end up. Sorry. 1029 00:56:10,850 --> 00:56:12,210 I'll see you in the Netherlands soon. 1030 00:56:12,450 --> 00:56:14,410 Yeah, Dope man. Thanks. 1031 00:56:15,350 --> 00:56:18,030 I hope you enjoyed this episode. If you did, it would be amazing 1032 00:56:18,030 --> 00:56:20,830 if you could rate, review and subscribe on the podcast 1033 00:56:20,830 --> 00:56:23,790 platform of your choice. It will help us educate more 1034 00:56:23,790 --> 00:56:25,870 millennials on the importance of Bitcoin. 1035 00:56:26,150 --> 00:56:27,910 You can follow and connect with me on Twitter. 1036 00:56:27,910 --> 00:56:30,550 I'm Bramk. That's at Bramk. 1037 00:56:31,110 --> 00:56:33,230 And if you are or know someone who has an interesting 1038 00:56:33,230 --> 00:56:35,710 perspective on Bitcoin that's worth sharing, hit me up. 1039 00:56:36,030 --> 00:56:37,830 I read and reply to every single message. 1040 00:56:38,110 --> 00:56:40,590 I appreciate your support and hope you'll be here for the next 1041 00:56:40,590 --> 00:56:42,030 episode. Thanks for listening. 1042 00:56:42,350 --> 00:56:51,320 Bye, I'm a.