Latest / Simply Bitcoin / BREAKING: Europe Launches First Spot Bitcoin ETF | EP 803

Transcript

BREAKING: Europe Launches First Spot Bitcoin ETF | EP 803 · Simply Bitcoin

• 0:08
  It's all going to. Zero against Bitcoin.
• 0:12
  It's going. Up forever,
• 0:37
  yo. Welcome to Simply Bitcoin Live.
• 0:39
  You're number one source for the peaceful Bitcoin revolution
• 0:41
  compared that. We cover the breaking news
• 0:44
  culture, Mematic Warfare. We will be your guide through
• 0:48
  the separation of money and state.
• 0:50
  Lots of news to unpack today. Apparently Europe has launched
• 0:55
  their first Bitcoin spot ETF. There's been some debate though,
• 1:00
  because people are saying that they really didn't.
• 1:03
  Some people are saying that they really did.
• 1:05
  So I'm going to go by the coin desk article.
• 1:09
  That's how I'm going to make my that's how I'm going to make my
• 1:12
  judgment call. And of course, if you know if
• 1:15
  there's any updates or any more information that gets released,
• 1:19
  we will be the first to tell you guys.
• 1:21
  But as it stands, Europe launches their first spot
• 1:25
  Bitcoin ETF. Could this be the, you know, the
• 1:29
  the the introduction of the so-called spot Bitcoin ETF's in
• 1:35
  the in the wealthiest economies, we know BlackRock is really,
• 1:40
  really, really, really wants theirs to get approved.
• 1:43
  So could this be the beginning? And of course we all have to
• 1:46
  remember this is a double edged sword.
• 1:48
  We have the risk of rehypothecation.
• 1:50
  We had a simply Bitcoin IRL where we had Caitlin Long and
• 1:53
  Lawrence Lepard too. You could call them experts in
• 1:56
  the field, basically talking about all the risks of
• 2:00
  potentially potential rehypothecation with the
• 2:03
  introduction of a spot Bitcoin ETF.
• 2:05
  And on the other camp you had people like Greg Foss and James
• 2:10
  Lavish also that came on simply Bitcoin Arrow that are making
• 2:12
  the other argument that it's a spot Bitcoin ETF, that there's
• 2:16
  no way that they could do this. So it's a double edged sword,
• 2:18
  but I think there is a common consensus that it will be
• 2:22
  positive for the price action will make the the price it it,
• 2:27
  it could make the price go up. That's the general consensus.
• 2:30
  So that's very exciting. Also another topic that I
• 2:33
  haven't heard a lot of people talk about, KYC mining pools
• 2:37
  have more than 50% of the Bitcoin hash rate.
• 2:42
  That's right, more than 50%. Now, if you are an at home
• 2:48
  miner, you're running an old S 9 or you're at home, you know,
• 2:52
  running an S 19 and you're just using it to heat your house,
• 2:55
  you've never been so important. You're the last line of defense
• 3:00
  for decentralization. And I suspect that number is so,
• 3:04
  so high because people like to use large mining pools.
• 3:08
  You know, we have Foundry USA, which tends to only accept large
• 3:13
  miners and they KYC everyone, right?
• 3:15
  They they need to know who those miners are, right?
• 3:18
  So obviously we we don't want this to head in this direction.
• 3:22
  Now, does this mean that transactions are going to start
• 3:24
  being censored and whatnot? Well, the worst that they could
• 3:27
  do is slow down certain Bitcoin transactions.
• 3:30
  But as long as there's one S 9 around the world that is not
• 3:35
  using, you know, those KY seed mining pools is using a mining
• 3:40
  pool of their choice. Statistically speaking, they're
• 3:43
  gonna find a Bitcoin block eventually and they're gonna
• 3:47
  include whatever transactions they see fit.
• 3:49
  So the worst they can do is slow down certain Bitcoin
• 3:52
  transactions. But this is all part of it.
• 3:54
  This is all part of the separation of money and state.
• 3:57
  We are living through it. This is what it's all about.
• 4:01
  Anyways, guys, make no more delay.
• 4:03
  Let's bring up our very special guest today, David Senior.
• 4:07
  How you doing buddy? Yeah, I'm good.
• 4:09
  Doing good. Thanks.
• 4:09
  How are you? Thank you so much for joining us
• 4:12
  and my legendary cohost. Definitely optimistic today.
• 4:17
  Uh, it's no smile. Kind of like a a mid.
• 4:21
  Sorry, sorry. I was.
• 4:22
  I was putting a poll. I was going on.
• 4:25
  Damn, I'm gonna let you finish. But what's going into the
• 4:28
  culture? What's going?
• 4:29
  On hold on, hold on. I'm gonna let you finish Nico,
• 4:31
  but that intro is so lit it gives me the vibes every single
• 4:34
  time anyways. Anyways, that's totally my
• 4:35
  topic. Let's go back, all right?
• 4:40
  Just kidding. What are you saying?
• 4:43
  Let's go. All right, man.
• 4:44
  Well, excited, excited for today.
• 4:47
  Let's get to the news. But yes, of course, we have
• 4:50
  David here today and he hit us up because we had one of his
• 4:53
  friends. Come on, I think it was a two
• 4:55
  weeks ago, maybe a little longer.
• 4:57
  I forget, you know, who knows anymore?
• 4:58
  All the date we know is block height, but we're going to get
• 5:01
  into some rabbit hole stories get into.
• 5:05
  As you were telling me, David, the pain that it takes to learn
• 5:07
  about Bitcoin, I think this is going to be a good example, a
• 5:11
  good exhibit of what the average person is going through and what
• 5:15
  they will probably go through to become a Bitcoiner.
• 5:18
  And even if we got, if we got enough time, we'll be talking
• 5:20
  about maybe your elevator pitch. I think you guys are going to
• 5:23
  like this culture. This one's going to be a good
• 5:24
  one. I'm excited for this one 100%
• 5:27
  guys. Also, another thing before we
• 5:29
  get into it, we are all on the same freaking team.
• 5:34
  Okay. It is literally Party of Orange,
• 5:38
  which is a party of Bitcoin, Freedom, prosperity, hope versus
• 5:42
  a Party of Green, which is a party of darkness, nihilism,
• 5:47
  poverty, slavery. Remember, Remember what we what
• 5:53
  we're actually aiming for? Because I think a lot of people
• 5:58
  in this crab market, a lot of people get bored, a lot of
• 6:01
  people get a little bit desperate, so to speak.
• 6:04
  Nothing's been happening for the last 6-7 months.
• 6:08
  But it's important to zoom out in moments like these rather
• 6:12
  than cannibalize the people that are in metaphorically fighting
• 6:17
  in the trenches alongside of you.
• 6:20
  So I just wanted to say that before we start the show.
• 6:22
  But anyways, guys, let's jump straight into numbers.
• 6:25
  We got a lot to talk about today.
• 6:26
  Let's check it out. The Bitcoin numbers.
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  They're also crush proof, waterproof, non corrosive, and
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  on their website at the time of recording.
• 7:55
  The Bitcoin price is 29,315 sats per dollar 3411 Block height
• 8:01
  803,315 blocks to having 36,684 having estimate April 20th 2024
• 8:11
  Total Lightning network capacity 4713 Bitcoin capacity value 138
• 8:19
  million U.S. dollars Realize monetary inflation 1.76% The
• 8:24
  market capitalization of Bitcoin $570 billion with a B Bitcoin
• 8:32
  versus gold market cap 4 point four 5% that number will that
• 8:37
  number will continue to go up and the realized monetary
• 8:40
  inflation will continue to go down.
• 8:42
  Absolutely embarrassing Fiat currencies and golds filling two
• 8:47
  birds with one stone. Metaphorically of course.
• 8:49
  Anyways, today's the day. Today's that day.
• 8:53
  And shout out to Pete Rousso who is The Who is the editor at
• 9:00
  Bitcoin Magazine. Our friends over at Bitcoin
• 9:02
  Magazine. Awesome dudes and gals.
• 9:05
  So check this out. Exactly 52 years ago was when
• 9:10
  President Richard Nixon officially suspended the US
• 9:13
  dollars converted convertibility to gold.
• 9:18
  That means exactly 52 years ago today is when the Fiat money
• 9:23
  experiment started. And this is you can even say
• 9:28
  this is when clown World started.
• 9:30
  This is the initiation, this is the birthday of clown world.
• 9:34
  Everything just went kind of downhill after that, whether
• 9:38
  it's stagnant wage, it wages, the rising wealth inequality
• 9:42
  which everyone blames on capitalism.
• 9:44
  But in reality it's fundamentally the money.
• 9:47
  The money is is the broken thing.
• 9:49
  It is the root cause of a lot of the economic woes that people
• 9:52
  are enduring now. The good news, though, is that
• 9:55
  people are finally waking up to this BS and yesterday's.
• 10:00
  Or maybe it was over the weekend where Javier Mali, a Libertarian
• 10:05
  candidate. Not a far right candidate as
• 10:06
  much as the corporate media would like you to believe.
• 10:08
  So one the presidential primary by over 11 points in Argentina,
• 10:16
  people are finally starting to ask what the fuck.
• 10:20
  I'm tired of the usual bullshit. Whether it comes from the left
• 10:24
  or the right, People want a solution.
• 10:27
  People are asking for better money, right?
• 10:30
  And this is very, very very very very important.
• 10:33
  So we have the beachhead of El Salvador.
• 10:36
  If we get Argentina, holy cow, that is a massive company as
• 10:41
  sorry, massive country. Will that open the floodgates?
• 10:44
  But anyways, an honor of Richard Nixon starting Fiat money.
• 10:49
  The date that Fiat Money base of this whole Fiat money experiment
• 10:53
  started. Let's play the video and then
• 10:56
  we'll talk about it. Let's check it out.
• 10:57
  The strength of a nation's currency is based on the
• 11:00
  strength of that nation's economy, and the American
• 11:03
  economy is by far the strongest in the world.
• 11:07
  Accordingly, I have directed the Secretary of the Treasury to
• 11:10
  take the action necessary to defend the dollar against the
• 11:14
  speculators. I have directed Secretary
• 11:17
  Connolly to suspend temporarily the convertibility of the dollar
• 11:21
  in the gold or other reserve assets, except in amounts and
• 11:25
  conditions determined to be in the interest of monetary
• 11:28
  stability and in the best interest of the United States.
• 11:33
  Now, what is this action which is very technical?
• 11:37
  What does it mean for you? That's right, it's too
• 11:40
  technical. Let me lay the, lay the rest,
• 11:41
  the bugaboo of what is called. Devaluation.
• 11:48
  If you want to buy a foreign car or take a trip abroad, market
• 11:52
  conditions may cause your dollar to buy slightly less.
• 11:57
  But if you are among the overwhelming majority of
• 12:01
  Americans who buy American made products in America, your dollar
• 12:06
  will be worth just as much tomorrow as it is today.
• 12:09
  That is that. So who's the one saying, to use
• 12:12
  his words, who's the one saying the bugaboo?
• 12:14
  It sounds like he was the one saying the bugaboo.
• 12:18
  Oh man, oh man. And what about that temporary.
• 12:22
  I love it. Don't you don't really love it?
• 12:24
  This is a temporary measure I call bullshit.
• 12:29
  And yes, it totally, totally affected the majority of
• 12:34
  Americans. It totally affected the middle
• 12:38
  class. So I'm saying what he said was a
• 12:41
  total bunch of bugaboo. So that's an interesting vocab
• 12:45
  choice. Anyways, historic moment.
• 12:49
  And also, David, you said something interesting in the
• 12:52
  chat. So yeah, man, this is what, a
• 12:57
  time to be alive. What a time to be alive.
• 13:00
  And what I'm seeing is infighting.
• 13:04
  What I'm seeing is infighting. I'm not seeing people
• 13:06
  concentrated on on the task at hand.
• 13:10
  And the task at hand is a separation of money and state.
• 13:13
  And it won't be an easy one, won't be an easy one.
• 13:15
  And I see more people distracted on cannibalizing fellow
• 13:21
  bitcoiners because they have chosen different paths for
• 13:27
  themselves. Then I see focus on the scam
• 13:31
  that is Fiat money, the mission of breaking the Bitcoin echo
• 13:36
  chamber, which is a very, very freaking difficult mission.
• 13:40
  All of that energy could be directed to that cause, but it's
• 13:46
  being directed to self cannibalization, which is just
• 13:50
  absolutely nuts to me dude. Anyways, that's my 2:00.
• 13:56
  That's my 2 Sats. Opti.
• 13:58
  What's your take on this bro? Mr. Mr. Nixon?
• 14:03
  Looks like he fucking lied. That's what I gotta say.
• 14:07
  Yeah, I mean, hey, what's the what's the famous?
• 14:09
  I am not a crook now. He just saw all the world dwell
• 14:13
  by taking it off the gold standard.
• 14:15
  Anyway, that's totally different thing first and foremost.
• 14:18
  Wow, it's it's only been 52 years since 1971.
• 14:23
  And then we're gonna get David Story in here in a minute.
• 14:26
  And someone tweeted this morning like WTF happened 5052 years ago
• 14:31
  and and I didn't connect it, that today was the day that we
• 14:33
  got off the gold standard. But it is very crazy just how
• 14:39
  quickly Fiat has become the standard in society and just
• 14:42
  thoroughly saturated every corner of the globe.
• 14:45
  And everyone thinks that paper money is the de facto money in
• 14:48
  the world. And you know it it just it
• 14:52
  really seems like such a long time ago that people are just so
• 14:55
  disconnected from what is going on right now.
• 14:58
  And and you know few people probably even know, you know,
• 15:01
  WTF happened in 1970, one.com. But it just it it's really
• 15:06
  amazing that this is where we are and it's only been 50 years.
• 15:08
  You know, like like David saying.
• 15:10
  And he'll touch on this in a minute, like within our
• 15:12
  lifetimes or people's lifetimes. The world has completely
• 15:17
  detached itself from reality and here we are and we finally fix
• 15:22
  this in 2009. Well, not we, but Satoshi
• 15:24
  Nakamoto himself. Fix this and all of us now are
• 15:27
  waking up to the scam that is paper money.
• 15:30
  And and to your point, Nico, I was going to say the same thing
• 15:33
  like suspend temporarily. Like what's the what's the
• 15:36
  quote? Nothing is more permanent than a
• 15:38
  temporary government action. And here we are, 52 years later,
• 15:42
  they have. I don't, I don't even think
• 15:44
  they've ever once even thought about going back to a gold
• 15:47
  standard. Yes, there's kind of talks right
• 15:49
  now going on with like, BRICS nations talking about dropping
• 15:52
  the dollar and all this stuff. But I don't think I've heard a
• 15:54
  government official ever say like, Oh yeah, we're going to go
• 15:58
  back to the gold standard. They're just doubling down on
• 16:01
  the dollar. Let us continue to print.
• 16:03
  We need more money to to solve all the world's problems.
• 16:07
  If you could simply solve the world's problems by printing
• 16:09
  more money, then we wouldn't have these problems right now.
• 16:13
  But where we are in the world, the problems have been
• 16:15
  exacerbated. Everything is worse than it ever
• 16:18
  was, and they can just continue to paper over this problem
• 16:21
  because they have the money printer, they can continue to
• 16:24
  print money. And This is why we Bitcoin is
• 16:26
  because I'm tired of becoming poorer.
• 16:29
  I'm tired of my future getting stolen from us.
• 16:31
  I'm tired of living on a Fiat standard.
• 16:34
  I want a better world for myself and for potentially my my family
• 16:39
  and my future children. Our progeny out there like This
• 16:42
  is why we Bitcoin is because we have left the reality by going
• 16:46
  on the paper standard, which is the Fiat standard and it started
• 16:50
  52 years ago and it's just amazing how.
• 16:54
  History gets lost on the average person out there and and
• 16:57
  obviously this is by design. But hey, enough of my soapbox.
• 17:01
  David, what's your thoughts on this?
• 17:02
  Well, yeah, you touched on history, you know, and mentioned
• 17:05
  it's 52 years ago. I'm 51 years old now.
• 17:08
  So my entire lifetime has been on the Fiat, the US dollar Fiat
• 17:12
  standard. If you go back in history and
• 17:14
  think about kind of my parents and my grandparents who had
• 17:18
  wealth in like that. 1819 hundreds.
• 17:20
  You know, Isaac Newton, I think it was, I'm not sure, around the
• 17:23
  date. Seventeen 1800s pegged the
• 17:25
  pound. You know, before the dollar was
• 17:27
  a global reserve currency. I'm English.
• 17:29
  I'm British. So the pound was the global
• 17:31
  reserve currency. And so Isaac Newton pegged the
• 17:34
  pound to the gold standard. And then for like 150 years, the
• 17:38
  price of an apple was pretty much the same price until John
• 17:41
  Maynard Keynes came along. This is some reading of mine
• 17:44
  from Safety's book. And took the pound off the gold
• 17:48
  stand, I think it was in 1913 and kind of used Fiat money to
• 17:52
  fund the First World War, which is meant to be over in the
• 17:55
  weekend, which then lasted for four years.
• 17:57
  So not only is the US Nixon did this 52 years ago today, all my
• 18:02
  lifetime, but my family history has been decimated financially
• 18:06
  by John Maynard Keynes and his, you know, masterful
• 18:10
  manipulation, he calls it in his biography of the currency of the
• 18:14
  British pound. You know, it was as good as
• 18:16
  gold. We say the pound is as good as
• 18:18
  gold. Not anymore, it's not.
• 18:20
  Yeah, they just got it wrong. They got it totally, totally
• 18:24
  wrong. Like, you know, like after
• 18:27
  decades and decades and decades and decades, you know, at this
• 18:30
  point there is no amount of of BS or spin or nothing.
• 18:37
  But people have to awaken to that fact.
• 18:39
  Because remember, these things were an experiment when they
• 18:43
  initially promised them. You heard Nixon's words, right?
• 18:46
  It was like, this is a temporary measure, like it was never met.
• 18:50
  And then after decades and decades of and normalization,
• 18:54
  it's treated as if this is some type of natural law.
• 18:57
  This is just some fact. You can't change it.
• 19:00
  This is how things have always been.
• 19:02
  That is complete and utter bullshit.
• 19:05
  It it. And and of course they're going
• 19:07
  to tell you that it is completely advantageous for
• 19:10
  governments and nation states to have the ability to create money
• 19:14
  for free. That the rest of us have to work
• 19:17
  for that that that's an that's a godly like power being able to
• 19:21
  print money out of thin air, right.
• 19:24
  And then that funds everything that funds their whole like
• 19:27
  funds their everything they wanna pay for that we that the
• 19:31
  country might not necessarily be able to pay for, but they're
• 19:34
  able to do that because of the money printer.
• 19:36
  And in countries that don't have the privilege of being world
• 19:39
  reserve currency, it has damning effects like what happened in
• 19:43
  Venezuela not too many years ago, what is currently happening
• 19:46
  in Argentina, which led to this Libertarian candidate that is
• 19:50
  literally saying we must end the central bank to him winning the
• 19:54
  presidential candidacy. So you know it's it's we're
• 19:59
  heading in the right direction but this is you know hopefully
• 20:02
  people wake up. Anyways guys, before we move on
• 20:06
  to new segment, I want to give a shout out to our sponsor.
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  Opti and I are going to be there, and we hope to see you
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  guys there as well. Anyways, guys, no more delay.
• 20:45
  Let's jump straight into news. We got a lot to talk about.
• 20:48
  Let's check it out. The Daily News All right guys, I
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  also want to give a shout out to one of our sponsors, Bitcoin
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• 22:06
  Anyways, guys, the big breaking news for today is Europe
• 22:09
  launches first Spot Bitcoin ETF. Let's check out some of the
• 22:13
  details and what is certainly an important moment for the
• 22:16
  industry as a whole. Europe has launched its first
• 22:18
  spot Bitcoin ETF called the Jacobi ft Walshire Bitcoin ETF.
• 22:24
  The service is in regulatory compliant.
• 22:26
  Compliance with the Guernsey Financial Services Commission
• 22:29
  has been listed on Euro Next Amsterdam two years after its
• 22:34
  approval. The official launch shows
• 22:35
  Europe's initial spot Bitcoin ETF as the United States has
• 22:39
  seen a plethora of company submit applications.
• 22:44
  Alternatively, Jacoby was approved for the fund in October
• 22:47
  2021, following plans to list in 2022.
• 22:51
  The firm ultimately pushed back the launch date due to
• 22:54
  circumstances. The last few months have seen
• 22:58
  spot Bitcoin ETF's become the talk of the digital asset
• 23:01
  industry, a host of applications in the US from digital asset
• 23:04
  firms, traditional finance entities alike.
• 23:07
  I've seen the offering increase in importance.
• 23:09
  Now Europe has officially seen the launch of its very first
• 23:13
  spot Bitcoin ETF. The arrival of the Jacoby ft
• 23:17
  Wilshire Bitcoin ETF is certainly a monumental occasion
• 23:21
  for the industry. Moreover, the regulated listing
• 23:25
  will trade under the BCOIN ticker, which marks a
• 23:29
  significant moment in time for digital assets on the continent.
• 23:33
  Jacoby announced that the custodial services would be
• 23:36
  provided by Fidelity Digital Assets.
• 23:39
  Interesting. Additionally, they noted that
• 23:41
  the Flow traders will operate as market maker in a press release
• 23:44
  issue today. The approval for Jacoby Jacoby's
• 23:48
  Spot Bitcoin ETF actually came in 2021.
• 23:52
  Subsequently, plans were set in motion to launch the offering in
• 23:55
  2022. However, those plans were
• 23:57
  thereafter delayed it due to the overall market condition within
• 24:00
  the industry, specifically highlighted by the collapse of
• 24:03
  Tara and crypto exchange FTX. the United States is currently
• 24:07
  on track to potentially accept its first spot Bitcoin ETF, a
• 24:11
  plethora of applications that found their way before the SEC.
• 24:14
  Yet there have been no signs as to whether or not approval could
• 24:18
  be on the horizon for the country.
• 24:19
  And we also heard that some of those applications have been
• 24:25
  delayed once again. So I mean Europe is kind of a
• 24:28
  big deal, right? Europe is a big deal.
• 24:31
  You know, it's it's it's a massive economy.
• 24:34
  So the fact that this happens is again what I was saying in the
• 24:39
  very early part of the show, it is a double edged sword because
• 24:45
  you have the dangers of rehypothecation, right?
• 24:48
  I know some people don't believe that's the case, but Caitlin
• 24:52
  Long and Lawrence Lepard specifically, they do.
• 24:55
  And then the other side is saying, look, this is just
• 24:57
  bullish. This is good for price action.
• 24:59
  So you know, you have experts in the realm, you know, kind of
• 25:02
  saying they're different opinions, obviously from the
• 25:05
  paranoid Bitcoin or perspective after being here for seven
• 25:08
  years, 7 to 8 years and being jaded as that, jaded as hell,
• 25:13
  watching everything that has happened, whether it comes from
• 25:16
  governments or exchanges or anything, I'll tell you this,
• 25:19
  not your keys, not your Bitcoin. The revolution happens.
• 25:22
  The peaceful revolution happens. If enough people take self
• 25:25
  custody, we win. And those not, there's nothing
• 25:27
  they they can do about it that that's what will actually
• 25:30
  effectuate change, right. So these spot Bitcoin ETF's, it
• 25:33
  just makes it easier for people that are used to buying, you
• 25:37
  know, on stock markets and they like the convenience, right?
• 25:40
  I, you know, I have. I've heard it from, you know,
• 25:43
  either my parents or my fiance's parents or you're my older
• 25:48
  family members. You know, they they they they,
• 25:50
  you know, they have their, their, their, their financial
• 25:53
  firm of choice, Charles Schwab, Robin Hood, whatever, whatever,
• 25:56
  whatever floats your boat. And you know, they like the
• 25:59
  convenience. They're like, look, it's so easy
• 26:01
  to buy, you know, So for them when when there's a spot Bitcoin
• 26:06
  ETF that launches, it's it's it's it's so convenient, it's
• 26:09
  easy. It's like look how easy this is.
• 26:11
  But yeah, it's not as it's not that simple.
• 26:14
  Like if you really want to effectuate change, you want
• 26:18
  millions upon millions of individuals all around the world
• 26:21
  holding their own private keys. That's what will actually change
• 26:25
  things. Anyways.
• 26:28
  In other news, KYC mining pools have more than 50% of Bitcoin
• 26:33
  hash rate. Mining pools that require mining
• 26:35
  identity verification now control more than 50% of the
• 26:38
  hash rate of the Bitcoin network.
• 26:40
  Quote The two largest Bitcoin mining pools in the world,
• 26:42
  500USA and AMP Pool, require identity identity verification
• 26:46
  on all miners that use them. 53% of global hash rate has been
• 26:50
  docks between these two pools, right?
• 26:54
  Look at that. Here's Giacomo status suck.
• 27:00
  Don't do this kids. Your hash rate matters.
• 27:02
  Send it to only pools that deserve it.
• 27:05
  And here is some some back and forth, some screenshots.
• 27:09
  So now we have Foundry institutional only.
• 27:12
  So KYC and Pool KYC controlling 54% of the hash rate.
• 27:16
  Seriously, how is this good? Just a matter of time before
• 27:19
  they start requiring KYC UTX O's, which is something that
• 27:22
  we've said on simply Bitcoin for many many months now and does
• 27:27
  this behavior. This behavior should have some
• 27:30
  kind of economic disincentive, and Giacomo answers it does long
• 27:34
  term since everything you could do with quote permissioned
• 27:36
  Bitcoin, you can already do cheaper, faster, easier with
• 27:40
  PayPal. By definition, the set of
• 27:43
  compliant Bitcoin TTXS is is 0 at equilibrium.
• 27:48
  Thus eventually quote compliant blocks.
• 27:51
  Empty blocks with no fees. Here's our boy she she large
• 27:56
  miners are already docks. It's the small miners that hold
• 27:59
  the line in decentralization. Amen to that she she Next Next.
• 28:04
  I think this is a dumbest poster Nostra post.
• 28:07
  It's very simple. We need low power miners for at
• 28:10
  home mining. I can't run a 3 kilowatt miner
• 28:13
  at home. The power, the power bill with
• 28:15
  docks mean I can't afford it. Even A1 kilowatt miner would be
• 28:19
  a stretch. It would be a huge increase to
• 28:21
  my usage. I need something like in the 500
• 28:24
  Watt with reasonable efficiency. Meaning if newer miners are
• 28:27
  running three kilowatt at 100 to 158 the I need something close
• 28:33
  to 15 terror hashes. Now we need $10 ends anyways and
• 28:40
  maybe that was written incorrectly and Luke Dash Junior
• 28:43
  replied even 30% has a good possibility of a 51% attack. 51
• 28:49
  percent is just where the attack is guaranteed to succeed if we
• 28:52
  do nothing to react. So yes, it has never been such
• 28:57
  an important time to plug in your minor at home.
• 29:00
  And what you're doing is that you're you're securing the
• 29:03
  network, you're you're securing the decentralization.
• 29:07
  It is extremely vital. This is, this is some crazy
• 29:11
  stuff. And remember, we've been
• 29:13
  covering this marapool, right? Which part of Marathon?
• 29:17
  Many, many years ago, the community kind of fought back.
• 29:19
  They released without being told or forced to do so by
• 29:23
  legislation. They release the socalled OFAC
• 29:26
  compliant blocks, the Office of Foreign Asset Control.
• 29:30
  And they are the ones who are responsible.
• 29:32
  They're part of the US Treasury and they're the ones that are
• 29:35
  responsible for basically applying sanctions to people
• 29:41
  that the US government, the US government want to apply
• 29:46
  sanctions to. So you know, and this is
• 29:50
  something that I've also talked about for a long time, I do not
• 29:54
  believe that current US sanction policy and the way that the
• 29:58
  current Bitcoin network functions, which is this open
• 30:01
  monetary network, is compatible. And that is going to be a hard
• 30:06
  discussion and a hard debate. This is something that the book,
• 30:10
  the sovereign individual predicted back in the 90s,
• 30:14
  right. So I mean, look, I don't know
• 30:17
  where this is going to go, but I think that these are important
• 30:20
  conversations to have. And look, I'm going to read you
• 30:24
  a quote from the sovereign individual.
• 30:25
  It says new technologies will allow the holders of wealth to
• 30:28
  bypass the national monopolies that have issued and regulated
• 30:31
  money in the modern period. Their importance for controlling
• 30:33
  the world's wealth will be transcended by mathematical
• 30:36
  algorithms that have no existence in the new Millennium.
• 30:39
  Cyber money controlled by private markets will supersede
• 30:41
  Fiat money issued by governments.
• 30:43
  Right. And I think that's what we're
• 30:44
  seeing here. So yeah, these are all important
• 30:49
  conversations. These are all important
• 30:50
  conversations to have. I would love to ask Senator
• 30:54
  Cynthia Lummis about this conversation cuz I know that you
• 30:57
  know she a bipartisan bill or amendment better said was just
• 31:02
  passed in the in the defenses in the in a defensive defensive
• 31:07
  spending bill. And there is an amendment there
• 31:10
  to look into KYC more look into more of these things.
• 31:15
  And my question is simple, like bitcoins an open monetary
• 31:18
  network, the governments are not gonna have the scope and the
• 31:21
  ability and the infrastructure to censor and control the money
• 31:25
  flows that they used to have, right?
• 31:27
  So like, you know that that's gonna, that is an important
• 31:32
  debate that we're gonna have to have.
• 31:34
  That is an important discussion that we're gonna have to have.
• 31:37
  And it's a discussion that has to happen with facts.
• 31:40
  It can't be can't be done with this blanket statement that they
• 31:44
  use for everything, which is, look, if we don't censor money,
• 31:48
  if we don't control the money flows, terrorism, money
• 31:51
  laundering, drugs, etc, etc, etc, etc.
• 31:55
  We need to have a serious conversation about what the
• 31:59
  consequences of what the consequences of KYC are to
• 32:04
  people that are living in countries that happen to not be
• 32:09
  on the approved list, right? Do you really want to live in a
• 32:12
  world where, because you happen to be born in a certain
• 32:16
  jurisdiction, you're not entitled to have a bank account
• 32:19
  like this is what Bitcoin is for.
• 32:21
  And if they want to transform Bitcoin into that system, it
• 32:26
  kind of defeats the entire purpose of this open monetary
• 32:29
  network, right? So anyways, I see this clash
• 32:33
  happening. I see, I see.
• 32:35
  It's inevitable. In my opinion.
• 32:37
  And I think it's important that people are armed with the facts.
• 32:39
  It's important that people prepare themselves.
• 32:43
  Maybe buy the book Bitcoin evangelism.
• 32:46
  Prepare yourself with the, you know, some facts and look, the
• 32:51
  the reality is there's pros and cons to both systems.
• 32:55
  You know, and I would like to believe, based on my own
• 32:59
  experience, based what I've seen so far, that an open monetary
• 33:02
  network is going to be better for the world than a monetary
• 33:07
  network that is controlled by an elite group of bureaucrats that
• 33:10
  get to decide who's entitled to use money and who's not entitled
• 33:13
  to use money. I could be wrong, but that's my
• 33:15
  opinion. Anyways, Opti, did you see this
• 33:19
  clash happening too bro? Or maybe I'm seeing things.
• 33:23
  No, I mean I think it's it's very obvious that this is
• 33:26
  happening and this has been a concern since what like
• 33:28
  20/16/2017 and it's just it's I think it's kind of incredible
• 33:34
  that we're seeing this happen in real time and there is
• 33:36
  definitely a concern about this. And and I was going to say the
• 33:39
  same thing, like we've been covering this for a while and
• 33:42
  when the marathon OFAT compliant block came in, I think, I think
• 33:46
  you spazzed out even harder so. KYC mining pools are definitely
• 33:50
  an attack vector and it's something that I think
• 33:53
  bitcoiners are aware of, hopefully more bitcoiners are
• 33:56
  aware of. And of course shuts out the
• 33:58
  Shishi and no BS Bitcoin for using Gnoster to add some
• 34:03
  context to this stuff. But this is obviously the
• 34:06
  importance of at home miners and off grid miners and also you
• 34:11
  know, shuts out why this was going on.
• 34:14
  Shouts out to our boy Tarantula and Off the grid miner and all
• 34:18
  the other off grid miners that aren't a part of these KYC
• 34:21
  pools. And you know, like, I don't
• 34:23
  mind, so I'm obviously just opining here, but I would love
• 34:27
  to see more miners move away from these KYC pools, but I
• 34:30
  think it's an interesting trend. To see that the big miners are
• 34:34
  using these pools. So maybe there's something there
• 34:37
  that they're concerned about and you know, maybe they are trying
• 34:42
  to be preemptive considering they're they're seeing some
• 34:46
  walls or something. I don't know, I don't know
• 34:48
  what's going on there. So it's just very interesting to
• 34:50
  see the incentives of these miners going to these KYC mining
• 34:55
  pools and then just back up a little bit on that, you know the
• 34:59
  Amsterdam ETF news. I'm a broken record at this
• 35:02
  point and Nico said it as well. Not a fan of ETS, but I'm not
• 35:06
  naive and I understand how ETS allow for capital to flow into
• 35:09
  Bitcoin, so obviously this was inevitable.
• 35:12
  It's just interesting to see the game theory play out in real
• 35:16
  time. Obviously Bitcoin is a global
• 35:17
  phenomenon, so countries better wake up to the game theory of
• 35:20
  Bitcoin and if you don't compete and you don't embrace Bitcoin,
• 35:24
  you're hurting your citizens so highly.
• 35:27
  Suggest that. Countries around the world,
• 35:29
  governments, bureaucrats, obviously they're not going to.
• 35:31
  It's kind of like the Lord and the Lord of the Rings.
• 35:33
  Like throw a ring in the volcano meme.
• 35:36
  I would love to see them get out of the way of Bitcoin and
• 35:38
  embrace Bitcoin because it's obviously better for everyone
• 35:42
  out there. And and of course I'm a broken
• 35:44
  record at this point. I've been saying this for a
• 35:46
  while. So you know, it's just it's just
• 35:50
  interesting to see this happen in real time.
• 35:52
  And I think it's something we talk about constantly of just
• 35:54
  like how quickly news happens in Bitcoin land.
• 35:57
  And we get lost in the everyday grind.
• 36:02
  But things just happen so quickly in Bitcoin, and I think
• 36:06
  it's gonna be beautiful to watch in the next year or so.
• 36:08
  A 100%. Anyways, you got a quick take on
• 36:12
  this David. Just really just the ETF
• 36:16
  situation for me. I'm in the Everything's good for
• 36:19
  Bitcoin camp. I'm also of the not your keys,
• 36:22
  not your coins camp. So those who invest in ETF's
• 36:26
  then obviously they're more than welcome to do that.
• 36:28
  But the message I think everyone on this channel that's watching
• 36:31
  now will know is you know you're better off securing non KYC
• 36:35
  Bitcoin yourself and taking it into self custody than investing
• 36:39
  in any ETF's. But in the meantime all these
• 36:41
  ETF's are just going to pump our bags.
• 36:42
  So you know this European one out of Guernsey for London, and
• 36:46
  that for UK and Amsterdam and the the, the.
• 36:49
  Larry Fink Ones and all the others coming next year, like I
• 36:52
  think four months now roughly. It's deadline dates.
• 36:55
  They're just they're gonna pump our bags.
• 36:56
  But for this audience, we all gotta take self custody rather
• 37:00
  than trust these ETF's. Yeah, I 100% agree with that
• 37:04
  statement. It takes self custody.
• 37:06
  That's how I think we'll actually effectuate change.
• 37:09
  Anyways, guys, no more delay. Let's jump straight into the
• 37:12
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• 37:43
  right everybody else want to tell you about the largest
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• 38:21
  Anyways, what are we going to talk about today, Opti?
• 38:24
  Well, David hit me up in the DM's on Twitter, I don't know, a
• 38:29
  couple weeks ago, I think at this point, we had your friend
• 38:31
  on Jeremiah and you wanted to come on and talk about your
• 38:35
  rabbit hole story and you kind of gave me the TLDR before the
• 38:38
  show. And there is a theme that I've
• 38:41
  kind of been touching on lately, and it's the amount of pain that
• 38:45
  people are going to have to feel before they they jump into the
• 38:48
  Bitcoin rabbit hole. And so let's just get into it.
• 38:52
  So David, you told us you got a chronological story here.
• 38:55
  You're gonna go from the very beginning.
• 38:57
  So let's just give you the platform.
• 38:59
  Everyone loves a good rabbit hole story.
• 39:01
  And I I think it's going to be a good example for the average
• 39:03
  person out there in in regards to the journey it takes to be a
• 39:07
  bitcoiner. So without further ado, David,
• 39:09
  the floor is yours. Cool.
• 39:11
  Yeah. Thanks.
• 39:12
  Opt in. And I think Nico, just do chime
• 39:15
  in at any point because what I've been thinking about this
• 39:17
  lot a lot over the last year or two, because my tail goes back
• 39:21
  to initially, you know, I'm a I'm a proper peasant plem.
• 39:25
  So I come from a family of four, four boys.
• 39:29
  I'm the youngest. Older brothers we don't have
• 39:31
  didn't never had a lot of money. My second eldest brother would
• 39:34
  always say to me that I'm no good with money and that ended
• 39:37
  up becoming a self fulfilling prophecy.
• 39:39
  So having seen that myself, I always told myself I am good
• 39:42
  with money and you know my obsessions are really around.
• 39:45
  You know, I've always been money, technology and
• 39:47
  philosophy, that's my personal interests.
• 39:50
  So I've worked in technology sales for nearly 30 years and
• 39:54
  while in tech sales I read APC world article.
• 39:58
  Which was back in I think December, December 2010.
• 40:03
  And what it was about, it was about the WikiLeaks release of,
• 40:07
  you know, information, basic war crimes, but a ton of information
• 40:11
  and the fact that Visa and MasterCard, these two
• 40:14
  centralized entities were stopping the public globally
• 40:19
  from donating to WikiLeaks. And I just thought this was
• 40:22
  really out of order, that the the power these two entities had
• 40:25
  to stop donations. Being an IT guy, I like
• 40:28
  information. So I wanted to you know receive
• 40:31
  that information. And in the news store they
• 40:33
  talked about Bitcoin decentralized peer-to-peer
• 40:36
  money. So that caught my interest.
• 40:39
  But you know thinking about this, it wasn't until I we've
• 40:42
  actually gone back and done some research on my old PC.
• 40:45
  It wasn't until November the 15th 2011 where I installed the
• 40:51
  Bitcoin executing file start. Thought I started mining, I
• 40:58
  thought, well, I did buy some Bitcoin via an SMS text
• 41:01
  messaging service. I don't know how many.
• 41:03
  I was buying bitcoins via SMS because there wasn't very many
• 41:06
  places you could buy Bitcoin in 2011 and there wasn't a lot of
• 41:09
  information online. But you know, the bitcoins
• 41:13
  didn't arrive in my application. I didn't even know that I had to
• 41:16
  create a wallet. So whether or not, whether I was
• 41:18
  mining or not, I wasn't sure in, you know, looking back because I
• 41:23
  don't know if I ever create a wallet.
• 41:25
  It wasn't until like a couple of years later in 2013, I thought,
• 41:30
  you know, Bitcoin went to $1000. In November 2011 it was $0.22
• 41:35
  and I think it was 2013. I was focused on my startup.
• 41:40
  I left a consultancy company to found a mobile app startup,
• 41:45
  mobile app strategy business. So I was kind of focused on that
• 41:48
  at the time, but I saw the price go up.
• 41:50
  So I thought I bought some by SMS. I was trying to.
• 41:52
  I chased the company that I bought them from, this company
• 41:55
  called Dialcoin. They they didn't reply to me at
• 41:59
  all. So I kind of forgot about it
• 42:01
  again. I was distracted by just other
• 42:05
  things in my life. You know, I've got well, she's
• 42:07
  16, she's 16 now. I'm kind of young daughter of
• 42:11
  the time. I was always focused on kind of
• 42:13
  earning Fiat and selling technology to earn Fiat to
• 42:17
  survive really month to month. Frankly, I'm quite successful,
• 42:20
  but you know, never enough to really get rich.
• 42:23
  So it was distracting me away from learning about Bitcoin.
• 42:26
  I'm just going to go through my list now.
• 42:28
  So yeah, then you know, 2013 I found in my startup, but also
• 42:32
  there was a Mount Gox issues in the press.
• 42:35
  You know, the Mount Gox hack occurred in 2014 that put me off
• 42:39
  Bitcoin. So there's nothing more pain
• 42:41
  there where I could have got back into it but didn't because
• 42:43
  I was concerned about the the hack and then the 2015 I was
• 42:48
  again, I was focused on my startup with a colleague of
• 42:50
  mine, Michael, who's probably the only other person friend of
• 42:53
  mine I know that gets Bitcoin. Although, you know in 2017 we're
• 42:58
  both shitcoin gambling. So I got trapped in the ICO
• 43:02
  craze, You know, I was researching Bitcoin.
• 43:05
  Andreas Antonopoulos, I read his Internet money book.
• 43:08
  That was mind blowing, but I was buying Bitcoin and then trading
• 43:12
  it for shit coins and all coins and obviously they're all going
• 43:14
  down to zero. I find Ethereum and buying into
• 43:18
  these ICO's and they've obviously all gone down to 0.
• 43:21
  So there's some kind of lessons to be learned there and some
• 43:23
  pain again. So I'm constantly kind of
• 43:26
  selling my Bitcoin and you know, gambling shit coins And then
• 43:31
  2018, the price crushed again. I thought I was going to 0
• 43:34
  again. Clearly didn't understand
• 43:35
  Bitcoin well enough at the time, and in 2019 I was again focused
• 43:41
  on earning Fiat, selling tech to earn Fiat, to just kind of keep
• 43:44
  going. I never thought of that.
• 43:46
  I had a very high time preference.
• 43:48
  I never thought of the I just wanted to kind of make money
• 43:51
  quickly. Hence gambling with shit coins,
• 43:53
  not thinking about buying Bitcoin and holding.
• 43:56
  You know, Hoddle was around all those times.
• 43:58
  I'm thinking, what are these people talking about buying and
• 43:59
  hoddling? You know, I'm going to buy,
• 44:01
  sell, trade, try and get Fiat so I can provide for my family.
• 44:08
  And then, you know, we had the 2020 ball run again.
• 44:13
  Again, my friend told me about the harvening, which I wasn't
• 44:16
  too clear on at the time. I saw the price a bit skyrocket.
• 44:20
  I was too late to get in early, so ended up gambling with shit
• 44:24
  coins again kind of into the end of 2021, into early 21, and it's
• 44:28
  like 10 years later really since I first installed the executable
• 44:32
  file. I'm thinking I'm, I'm kind of.
• 44:34
  I started researching and reading Robert Breedlove's work.
• 44:39
  I started reading Safety. I started listening to the
• 44:41
  Bitcoin podcast. I started watching Simply
• 44:44
  Bitcoin. There's a really good Robert
• 44:46
  Breedlove Fred, where he talks about as ambassadors for
• 44:51
  Bitcoin. We need to distinguish and it's
• 44:53
  kind of one of those tweet storms, like 60 tweets.
• 44:56
  We have to distinguish between between Bitcoin and shitcoins
• 45:00
  and that really helped my understanding.
• 45:03
  And also in saving Bitcoin and some shit coins for my daughter
• 45:06
  and constantly buying from 2017. And because they were her, they
• 45:11
  were her crypto currencies or her Bitcoin and never sold them.
• 45:14
  But I saw them kind of 10X after the harvening, I think.
• 45:17
  Well, hang on a minute, there's something in that.
• 45:18
  I'm reading Robert Breedlove. There's something in that I saw
• 45:22
  the next to the Harvey and I started researching the
• 45:24
  harvening and that really led me to get obsessed given the pain
• 45:28
  I've gone through. When I was buying Bitcoin, when
• 45:31
  it was $0.22, lost it all. I bought 150 through a method I
• 45:36
  still can't remember and I threw away the private key and public
• 45:40
  key. This was before bit 39 C words.
• 45:42
  I remember throwing the bit of paper away.
• 45:44
  So I've really lost a lot of wealth over the time.
• 45:47
  And I probably, you know, we all know that I probably would have
• 45:50
  sold my Bitcoin at $250 or $1000 or 2 1/2 thousand or 10 grand or
• 45:56
  20 grand. And what I've held to now,
• 45:58
  almost certainly not. But you know, now I've finally
• 46:00
  worked it out. I've probably read 2030 books,
• 46:05
  maybe 10,000 hours of podcasts on YouTube.
• 46:07
  I've been absolutely obsessed the last two years and I
• 46:11
  finally, I did a quite a decent sized deal in tech sales to a
• 46:14
  large bank. I got them to print me some
• 46:17
  money for. They bought a cybersecurity and
• 46:20
  cybersecurity software from us. And that's helped me this year
• 46:24
  to kind of get back on a footing where I can actually acquire
• 46:27
  some Bitcoin and I can DCA in and I can hold forever and I'm
• 46:31
  never going to sell and I've worked out I'm just going to use
• 46:34
  it as money in the future and stop trading.
• 46:36
  So really I just wanted to tell the story because it's a really
• 46:39
  a cautionary tale And I've been through quite a lot of pain and
• 46:44
  I just like everyone else to not go through the pain I've been
• 46:47
  through because it's been pretty horrendous.
• 46:49
  I've had friends of mine that, you know, none of my British
• 46:52
  friends would say I've got understood it that you know,
• 46:56
  the, you know, they they still think I'm nuts.
• 46:58
  Now it's taken me almost three years to convince my wife and
• 47:02
  daughter that, you know, through their, my obsession, they've
• 47:05
  seen that I kind of understand it and it, you know, it is the
• 47:08
  future of money. It is the new system, It's
• 47:10
  better than fear and all the things we know about Bitcoin.
• 47:12
  So really, I just finally got there through a lot of pain, a
• 47:15
  lot of distractions, and I just wanted to share that story with
• 47:18
  everyone else so they don't go through the pain.
• 47:20
  Same pain that I've been through.
• 47:22
  Absolutely amazing story. And you know, kudos to you.
• 47:26
  Like my friend in the chat says, Legend didn't give up.
• 47:30
  And and I think this is something that I also feel you
• 47:34
  know I I wasn't in Bitcoin as early as you but This is why I'm
• 47:38
  so like anti shit coin is because I I've been through the
• 47:41
  pain and I and I I don't even like to think about the amount
• 47:45
  of capital that I've lost in shit coins.
• 47:47
  I just like out of sight, out of mind and and I just, I do my
• 47:50
  best to try to help people so that they can avoid those
• 47:53
  mistakes. And This is why these stories
• 47:55
  are so powerful is because as a bitcoiner that's been around for
• 47:58
  a few cycles. We've made all the mistakes for
• 48:01
  people and and I know it's very simple the process is simple
• 48:05
  guys just you know continue to save in Bitcoin, take Bitcoin in
• 48:07
  self custody. But it it sounds almost too good
• 48:10
  to be true. Like it sounds too easy and
• 48:12
  people like to over complicate things that make money in the
• 48:14
  real world or make money in the Fiat world that we live right
• 48:18
  now. And there's a few points that
• 48:19
  you said and I'm going to, you know, re re.
• 48:22
  Relate this back to what we were talking about in the beginning
• 48:24
  before we started the show. First thing you said is I could
• 48:28
  never build wealth before Bitcoin and I was never good
• 48:31
  with money until I found Bitcoin and I was the exact same way.
• 48:35
  I always say it that Fiat just has a way of burning a hole in
• 48:38
  my pocket. Whenever I have Fiat, I get rid
• 48:41
  of it as quickly as possible. But once it's in Bitcoin, I'm
• 48:43
  like, OK, now I can relax. I want to save this.
• 48:46
  I understand everyone's a scammer, number goes up all the
• 48:49
  memes and then the next point is.
• 48:52
  I find it very interesting in your story just how much easier
• 48:56
  it has become to be a bitcoiner over time.
• 48:59
  Like in the early days. You know, it might have been too
• 49:02
  complicated for the average person, but at at this point
• 49:05
  it's never been easier. This is the safest and best time
• 49:08
  to become a bitcoiner because of all the entrepreneurs out there,
• 49:12
  because of all the education out there.
• 49:13
  And I like to say, most people don't really have an excuse
• 49:17
  unless they're getting greedy. To go into shit coins to get
• 49:19
  themselves wrecked, it's like take a little time, slow down.
• 49:22
  There's a lot of information out there and you can become a
• 49:24
  bitcoiner easily. But the last thing I want to
• 49:27
  give you the floor for is before the show you said you had a
• 49:31
  great orange pill pitch for your Uber drivers or cab drivers and
• 49:36
  we were kind of going back and forth of the idea that.
• 49:39
  It's almost impossible to orange pill your friends and family and
• 49:42
  it's just so interesting how it's easier to orange pill a
• 49:46
  stranger if you understand the right talking points and and you
• 49:49
  know you plant the right seeds. So can we can you give us the,
• 49:54
  the quick elevator pitch that you give to Uber drivers and cab
• 49:58
  drivers And and if you want to add some more context to this,
• 50:00
  by all means. Yeah, sure.
• 50:02
  Thanks Optie. So yeah, what it is the last
• 50:05
  kind of the last two years I've been trying to orange peel all
• 50:08
  my friends and family. It's been incredibly difficult.
• 50:10
  But over the last kind of, I guess, few months, I found it
• 50:12
  easier and easier to orange peel drivers in general, drivers of
• 50:16
  Uber, drivers of black cabs. And it's really the reason that
• 50:22
  the culmination of the recent experiences.
• 50:25
  I think I can now orange peel a black cab driver in a minute,
• 50:28
  Uber driver in a minute, mainly the London black cab drivers is
• 50:32
  really the basis for this. The Bitcoin book that I've
• 50:35
  started writing and it's really about in London and I think
• 50:42
  bitcoins will know, understand some of this.
• 50:44
  But in London the black cab drivers have to do something
• 50:47
  called the knowledge. And London black cab drivers
• 50:49
  spend three years learning every single Rd. in London.
• 50:54
  And London's a really big city. And if you think about every
• 50:56
  single Rd., St. Lane, they have to memorize each
• 50:59
  of them. And the tests they're given are
• 51:01
  at the end to be able to drive a black cab, is to be able to plot
• 51:06
  the quickest path from one road to another.
• 51:08
  So let's go from this lane to that road or that road to that
• 51:11
  lane. And they have to plot the
• 51:12
  fastest path to pass the test to be able to drive a black cab.
• 51:17
  And I talk about an element of Bitcoin, you know, one of the
• 51:20
  technological advance. I think Adam Bach created the
• 51:23
  proof of work structure. So this is really the black cab
• 51:26
  driver's proof of work. And I pose this to an Uber
• 51:29
  driver who can use, you know, Apple Maps or Google Maps and
• 51:34
  instantly know the right way to get from one place to another.
• 51:37
  That's really proof of stake. So what this has helped me
• 51:39
  understand is that if you can communicate complex
• 51:43
  technological advancements and proof work obviously being just
• 51:46
  one small, well a big part of the you know the principles of
• 51:52
  Bitcoin and the different technologies within the Bitcoin
• 51:54
  stack, let's call it. And then if Y'all can relate
• 51:57
  that to the common man or the Enlavens terms, then it really
• 52:01
  helps and understands kind of these core principles.
• 52:03
  So that's where it's an embryonic concept for the book
• 52:09
  to be able to orange pill people by communicating with them in
• 52:12
  their language. But using one of Bitcoin's
• 52:15
  technical creations I proof of work for black cab drivers and
• 52:19
  proof of stake for Uber drivers. Does that?
• 52:21
  Does that make sense? Yeah makes perfect sense and
• 52:24
  it's something I talk about constantly.
• 52:26
  And and I stole this from the book How to Win Friends and
• 52:29
  Influence, I think by Dale Carnegie and there's just a meme
• 52:33
  that that I take from it and and it really kind of opened my eyes
• 52:37
  to how to better explain Bitcoin to people.
• 52:40
  And it basically says the same thing you're saying, but in
• 52:42
  mimetic form, and it says. Bait the hook for the fish
• 52:45
  you're trying to catch. And and I try to explain this to
• 52:47
  people all the time, is like, we're in this to win the hearts
• 52:50
  and minds of the masses out there.
• 52:52
  And the same pitch isn't going to work on everyone.
• 52:54
  What worked on us obviously doesn't work on other people or
• 52:57
  else they'd already be bitcoiners.
• 52:59
  So you got to relate the Bitcoin message to people and to boil
• 53:04
  everything down. People want to live a good life
• 53:06
  and so if you can explain to them how Bitcoin improves their
• 53:10
  lives in various different ways and whatever they're interested
• 53:12
  in. Then it becomes just that much
• 53:14
  easier to explain Bitcoin. Explain the value proposition of
• 53:17
  Bitcoin. Explain why they just might need
• 53:19
  to get some, just in case it catches on.
• 53:21
  It's very simple, yeah. Just just one more point up to
• 53:24
  what I found talking to it mostly in the in the UK and I've
• 53:27
  traveled across Europe quite a lot this year.
• 53:29
  But in the UK specifically in London, people don't know what
• 53:32
  Fiat is. I had a chiropractors
• 53:34
  appointment this morning and I'm having my chiropractor
• 53:37
  appointment. He's cracking my back and I said
• 53:38
  do you know what Fiat money is? And he said, no, never heard of
• 53:41
  it. But something else I think we
• 53:42
  all need to do is really, as we spoke about earlier with the
• 53:45
  gold standard is really raise the awareness of what Fiat money
• 53:51
  is. Because most people I speak to
• 53:53
  don't know, I kind of start with taxi drivers.
• 53:55
  Do you know what Fiat tell that quick story?
• 53:57
  And then kind of, you know, just go from there really based on
• 54:00
  talking in their language. But I think another thing I want
• 54:03
  to do is part of my book is really, and my daughter pointed
• 54:06
  this out to me, Connie, she's had really expand on the fact of
• 54:09
  what Fiat money is and how bad it is and all the terrible
• 54:13
  things it's going doing globally to society today, you know,
• 54:16
  including all the wars. Yeah, 100%.
• 54:19
  And it's very interesting to see that most people really do not
• 54:24
  understand what Fiat currency is, or even the word Fiat.
• 54:27
  They probably think it's a car. But it is interesting how the
• 54:30
  Bitcoin mimetics, or the Bitcoin signal the Bitcoin message is
• 54:33
  starting to saturate popular culture, and more and more
• 54:36
  people are either talking about Fiat on corporate press, or
• 54:39
  they're waking up to the idea of what Fiat money is, or they're
• 54:42
  at very least wondering what inflation is, why they're
• 54:46
  purchasing power is going down. And again, I think the theme
• 54:49
  here is humans just need to feel the pain.
• 54:53
  You know, it's the back to the old memes of like you got to put
• 54:55
  your hand on the stove before you realize that there's a
• 54:58
  problem. And most people are just lulled
• 55:01
  to sleep via the feel out currency because it seems so
• 55:04
  stable. And we are seeing in real time
• 55:06
  that people are waking up and they're they are feeling that
• 55:09
  pain and they're looking for alternatives and it's a matter
• 55:12
  of just being there. As I said yesterday, build it
• 55:15
  and they will come. It's the Field of Dreams meme.
• 55:17
  And that's what every single one of us is doing in our own way
• 55:20
  and just trying to get that message out.
• 55:22
  So David, first and foremost, kudos to you for sticking
• 55:26
  through it. I don't know if I would have had
• 55:28
  the resolution that you did. I I, you know, I know so many
• 55:32
  stories of people that I got in early.
• 55:34
  They have that Bitcoin Derangement Syndrome after a
• 55:36
  while and they're just like, man, I'm never going back to
• 55:39
  Bitcoin. But I was the same way.
• 55:41
  I'm just a stubborn I, you know, I got burned and my only shining
• 55:45
  grace was that. I I dove deeper and I was like I
• 55:48
  need to understand what this Bitcoin thing is and here we are
• 55:51
  5 snow 6-7 years six years later.
• 55:55
  I think it's just it's amazing it's this Bitcoin, it's it's
• 55:59
  really amazing how Bitcoin is self selective and us stubborn
• 56:03
  curious people are the ones that make it.
• 56:05
  And I think moving forward though, it's obviously with with
• 56:08
  us trying our best to orange pill people, we're going to get
• 56:12
  more of the normal person out there, but hey.
• 56:14
  Maybe some people just enjoy keeping their head in the sand.
• 56:18
  So we'll see. We'll see what happens.
• 56:21
  All right, guys. Well, David, appreciate it.
• 56:23
  Let's get into the meme review. This is your favorite portion of
• 56:25
  the show. The Daily Meme Review.
• 56:32
  Brought to you by Kaboom Racks. I get this question all the
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• 56:58
  Alright guys, you already know the deal.
• 56:59
  This is the meme review where you send us memes on Twitter,
• 57:02
  tag us at simply Bitcoin TV. Or you can tag my personal
• 57:05
  account optimist fields or drop them in our telegram group T dot
• 57:09
  me slash simply Bitcoin. I look through all of them and I
• 57:12
  try to get you guys some of the best memes on here.
• 57:15
  Of course, continue to spread the signal, continue to ridicule
• 57:18
  the corporate press, Continue to make some funnies to keep your
• 57:21
  head, friends, heads in the game memes.
• 57:25
  Are powerful. It's about getting sound bites.
• 57:28
  It's about propagating the palatable message of Bitcoin.
• 57:31
  Tweets of the bullets memes are the artillery and you are on the
• 57:35
  front lines in this information war.
• 57:37
  Anyways, this 1st meme is by our boy, the BTC Therapist and he
• 57:40
  goes break out of your chains with Bitcoin.
• 57:44
  And he just got a picture here and he goes a few reasons to own
• 57:46
  Bitcoin. And we have the I MF, we have
• 57:48
  CBDC's, we have J Powell and the money printer going Burr.
• 57:51
  We have the World Bank. We have the Federal Reserve.
• 57:53
  We have the amount of world debt.
• 57:56
  We have the amount of U.S. debt. We have the world coin trying to
• 57:59
  scan your eyeballs and connect your bodily fluids to your
• 58:03
  transaction. And we have the ridiculous stuff
• 58:07
  coming out of the World Economic Forum if these reasons do not
• 58:10
  make you want to become a Bitcoiner.
• 58:12
  Either you are dead inside or you are just not paying
• 58:16
  attention closely enough. You might want to get some
• 58:19
  Bitcoin just in case it catches on this next one.
• 58:22
  Honestly, I don't think this is the having party meme because I
• 58:25
  think I've seen this before but shouts out to you guys.
• 58:28
  You guys are propagating the memes, but I think.
• 58:31
  It's a fitting time to replay this meme.
• 58:33
  I think I've seen this one before, but forgive me if it if
• 58:36
  I haven't. Guys over there having Party MF
• 58:38
  on Twitter and he goes. People who think that we're
• 58:40
  crazy today will call us lucky in the future and actually in
• 58:43
  hindsight, relating this to David's story.
• 58:47
  I think it's perfectly on point because as you can tell, it
• 58:50
  isn't easy and you didn't get lucky.
• 58:52
  OK, so this first one, we got a Pepe frog here in a hard hat and
• 58:56
  he goes years of hard work to stack stats.
• 58:59
  And then we got a worn out Pepe at burning the midnight owl on
• 59:02
  hours and hours of research. And then we have him driving a
• 59:06
  old car, driving a car that's older than Bitcoin, living in a
• 59:10
  minimalist lifestyle with literally nothing in his house
• 59:12
  because he sold everything, even including his chairs.
• 59:14
  And he has. One TV left to watch simply
• 59:17
  Bitcoin in a couch so that he doesn't break his back.
• 59:20
  And then we got the guy challenges.
• 59:21
  You got lucky bro. And it started pumping and we
• 59:24
  got the pep at a frog punch in the face because we didn't get
• 59:26
  lucky. And it wasn't easy.
• 59:29
  It took a lot, a lot of grit to huddle them Bitcoins to
• 59:32
  understand why you huddle them bitcoins in this next meme,
• 59:35
  shouts at The Bitcoin Fool. I legitimately started cracking
• 59:39
  up when I saw this one this morning because I felt this one,
• 59:41
  I felt this one, he goes. It's just a picture.
• 59:44
  I don't know if you guys seen this meme, but there's a picture
• 59:46
  of the Oppenheimer. Scene.
• 59:49
  I guess it's Oppenheimer and Einstein.
• 59:51
  I haven't seen the movie yet, so forgive me guys.
• 59:54
  And then they added the Ken meme in there from the Barbie movie
• 59:57
  and he goes Bitcoin developer, which is Einstein the
• 1:00:00
  Influencer, which is the Ken doll guy.
• 1:00:02
  And then the minor, which is Oppenheimer.
• 1:00:05
  And the funniest part is cuz. Hey bro, I I guess I'm the Ken
• 1:00:08
  doll here. I guess.
• 1:00:10
  Let's go. All right, great.
• 1:00:12
  Me and Bitcoin pool. All right.
• 1:00:13
  This next one is by Rd. under Score BTC on Twitter.
• 1:00:17
  And he just goes slammed and we got this meme here of a
• 1:00:21
  bitcoiner slamming a crypto bro in the street.
• 1:00:24
  And it goes crypto Bros, we're all in this together.
• 1:00:26
  Can't we all just get along and a few minutes later the
• 1:00:29
  bitcoiner just body slams the shit corner?
• 1:00:31
  Because we are not all in this together.
• 1:00:33
  Especially when you guys ridicule bitcoiners for years
• 1:00:36
  and years and years and then you get wrecked and then you come
• 1:00:39
  back groveling on your knees like we're in this together.
• 1:00:41
  Guys like you know, help us out bro.
• 1:00:44
  It is Bitcoin And then there is shit coin.
• 1:00:47
  Anyways, this next meme on the same bane is by Maxie's club and
• 1:00:50
  it goes 488 a collectible. And we got this meme here, a
• 1:00:54
  crypto toy shit coiner. Individuals who either through
• 1:00:58
  ignorance or malice accumulate and or promote worthless digital
• 1:01:01
  tokens. Many shit coiners lack knowledge
• 1:01:04
  in the areas of Austrian economics, protocol, scaling
• 1:01:07
  layers, game theory and ethics. Many are prone to emotional
• 1:01:11
  outbursts when exposed to reason or tough questions regarding
• 1:01:14
  their heavy bags and this little shit coin toy.
• 1:01:17
  It's got over 20 sayings and batteries are not included and
• 1:01:21
  you can see it's got a a bunch of shit coins here, it's got a
• 1:01:24
  Ledger, it's got some Xanax and it's got a Red Bull.
• 1:01:29
  Oh man, absolutely. Honestly, these would sell Maxis
• 1:01:32
  Club. You need to make these.
• 1:01:33
  I think these would legitimately sell.
• 1:01:35
  Anyways, this next meme is by Bitcoin veterans and it goes
• 1:01:38
  hashtag. Get on the mission with Bitcoin
• 1:01:40
  veterans and we got the classic meme here of I don't know what
• 1:01:44
  some Lords, some Knights with swords and one night is titled
• 1:01:48
  Liberator, the other one is a Bitcoin or the other one is a
• 1:01:50
  warrior and you can see around. The Bitcoin veterans logo or the
• 1:01:54
  Bitcoin logo is education and discipline and dedication and
• 1:01:57
  hard work and leadership and freedom and masculinity and dank
• 1:02:01
  memes and morality and principles.
• 1:02:03
  All the things it takes to be a bitcoiner.
• 1:02:06
  This is the way guys. Anyways, this next meme is by
• 1:02:08
  meming Bitcoin and I'm sure you guys have seen this.
• 1:02:12
  I think this might be an update on it, but I really enjoy this
• 1:02:16
  one. You know, I'm sure you guys have
• 1:02:17
  heard the meme as above, So below.
• 1:02:19
  It's very interesting how Bitcoin seems to be an example
• 1:02:26
  being a mirror of the natural world, natural laws, we like to
• 1:02:29
  say. Anyways, here's a picture of
• 1:02:31
  mycelium and you can see the mycelium nodes and the network
• 1:02:34
  connected and then we got the next one.
• 1:02:36
  It's neurons in your brain. And look, it looks very similar
• 1:02:39
  in some nodes and some connections, some brain cells
• 1:02:44
  and some connections and then the Internet look at that, you
• 1:02:46
  know, some more nodes and some more connections and they all
• 1:02:50
  look very similar. And then again, look, there's
• 1:02:53
  Bitcoin nodes and some nodes and some more connections.
• 1:02:56
  And then now we have the Lightning network.
• 1:02:58
  And again, it looks very similar.
• 1:03:00
  There's some nodes and more connections.
• 1:03:02
  And now we have Noster, there's relays and more connections.
• 1:03:05
  It's almost like Bitcoin and the networks that we are using are a
• 1:03:12
  manifestation of natural law. I don't know.
• 1:03:14
  Who knows? Anyways, drop your main review
• 1:03:16
  score on that side of the chat and we will cover those live.
• 1:03:21
  All right, this one I I think you guys are going to like this
• 1:03:24
  one. This is a different one.
• 1:03:26
  I have this bamboo and bore bristle toothbrush.
• 1:03:31
  Stop brushing your teeth with plastic guys.
• 1:03:34
  This is not good for you. 100% natural and biodegradable.
• 1:03:38
  Honestly, these have become my favorite toothbrushes.
• 1:03:41
  I I can't explain it to you but I'm I'm trying to avoid as much
• 1:03:45
  plastic in my life as possible. All natural as far as possible.
• 1:03:50
  Anyways, David, what is your main review score?
• 1:03:53
  I've got an interactive no CVDC sticker, and I've got a In
• 1:03:58
  Bitcoin We Trust sticker. Let's go.
• 1:04:01
  Wait, how's it interact? Is that the one?
• 1:04:02
  It's like holographic. No, no.
• 1:04:04
  You've put it on. Yeah, You scan it.
• 1:04:06
  You scan it. There's an app called RT and if
• 1:04:09
  you put the app over the screen you can see it becomes
• 1:04:12
  interactive. The camera starts moving.
• 1:04:16
  It's superb. It's very cool.
• 1:04:18
  I've been sticking them up in our local area here in London.
• 1:04:20
  Oh, let's go. OK, is that a crypto graffiti?
• 1:04:24
  You need an app? Yes, it's cryptography.
• 1:04:26
  OK, I can't show. Can I show you?
• 1:04:28
  Let's see. Hold on.
• 1:04:29
  Let's. See if I can do it and then the
• 1:04:32
  camera moves. Oh, OK, Yeah.
• 1:04:38
  Yeah. Nice.
• 1:04:40
  Amazing. I'm moving it around, then it'll
• 1:04:42
  come up with a little story about Cbdc's.
• 1:04:46
  Bitcoin. There we go.
• 1:04:49
  Cool, isn't it? Yeah, that's amazing.
• 1:04:53
  Yeah. I mean, especially in the UK,
• 1:04:55
  we've seen that they have deployed a lot of cameras out
• 1:04:58
  there. So very fitting, fitting picture
• 1:05:01
  or sticker for hopefully waking up the normies out there.
• 1:05:06
  Okay guys. Well we have a few meme review
• 1:05:10
  scores in the chat. Let's go.
• 1:05:12
  OK, first one is by rave elevator and it goes.
• 1:05:16
  I score the memes Ollie G saying West side is the best side.
• 1:05:20
  OK, next one is by Phil C and it goes.
• 1:05:23
  I give these memes a reminder to convert your shit coins to BTC
• 1:05:27
  ASAP. This is the way.
• 1:05:30
  OK, this next one is by UTXO and it goes.
• 1:05:35
  I give the memes a bunch of central bankers burning the in
• 1:05:38
  that oil owl burning the midnight owl at the Bohemian
• 1:05:41
  Grove. OK, all right.
• 1:05:43
  This next one is by planet Earth and it goes meme score, stay
• 1:05:46
  humble, stay solvent, stack sats.
• 1:05:49
  This is the way guys. This is the way.
• 1:05:51
  Next one is by Elaine shouts out to you Lynn and she goes score
• 1:05:55
  Bitcoin stories show on simply three hearts.
• 1:05:58
  Yes people really enjoy the Bitcoin rabbit hole journeys.
• 1:06:02
  The stories explaining how we got into Bitcoin and then
• 1:06:05
  hopefully explaining to people the best practices so that they
• 1:06:08
  don't wreck themselves. This is the way, guys, Okay this
• 1:06:11
  next one is BTC. Is truth scores selling all the
• 1:06:15
  chairs to stack more sets. Yes, exactly.
• 1:06:18
  Okay Mclovin memes score. The entire world eventually
• 1:06:21
  adopts Bitcoin. Enjoy cheap sets for now and be
• 1:06:23
  patient Digital Bobby, we did that yesterday.
• 1:06:27
  Shouts out to you. Let's see.
• 1:06:28
  Okay a few more. A few more of these.
• 1:06:31
  Igor. I give those memes in ETF, some
• 1:06:34
  promissory notes and a lawyer hairstyle.
• 1:06:37
  OK. All right.
• 1:06:39
  This next one is by Steve Dre. I like a BTC cell.
• 1:06:44
  Turns dollars into rocket fuel. Yes.
• 1:06:47
  Let's go. OK.
• 1:06:48
  I think I got a few more every day.
• 1:06:51
  Walking with Christ score. Might no longer use Ledger Nano
• 1:06:54
  S Yes, this is the way. All right.
• 1:06:57
  Last one, and certainly not least, Steve, Dre, I give the
• 1:07:01
  memes a Petro dollar. OK, wait, it's not that we ran
• 1:07:05
  out of meme scores, it's we had the buzzer.
• 1:07:08
  OK, well, guys, appreciate you, David.
• 1:07:12
  Where can people find you? Where what?
• 1:07:14
  What do you want people to look out for?
• 1:07:15
  Where can they find you on the interwebs?
• 1:07:17
  Yes, I've got a couple of Twitter handles.
• 1:07:19
  I've got a personal one and A and a Bitcoin one.
• 1:07:21
  But I think the best place is Instagram.
• 1:07:24
  I've got Bitcoin Senior. 21 which is my I just, I get good
• 1:07:29
  memes, I get. I I post, I find things on
• 1:07:32
  Twitter, I screenshot it, I post and I don't follow anyone.
• 1:07:34
  I just post what I think interesting memes and and
• 1:07:37
  stories each day. So yeah, Bitcoin Senior 21 is my
• 1:07:42
  name on Instagram. But you know, I don't really
• 1:07:44
  need to be found. You got to propagate the memes
• 1:07:50
  everywhere. And I I know bitcoiners are
• 1:07:52
  reversed to Instagram, but hopefully more and more people
• 1:07:56
  wake up to the signal and it's like I said, everyone's doing
• 1:07:59
  their part to spread that signal, whether it's just
• 1:08:01
  stacking stats and living a good life or actively trying to
• 1:08:05
  orange pill people. So kudos to you, David.
• 1:08:08
  Thank you for your story And then come back when when your
• 1:08:10
  book finally releases and and we can talk on that and you know,
• 1:08:14
  expand on what you're doing over there.
• 1:08:17
  Anyways, let me put you behind the scenes, David, really
• 1:08:19
  appreciate it. Hang out for a little bit and as
• 1:08:22
  I roll this one out. All right guys, we already know
• 1:08:26
  that was the show. Really appreciate you guys.
• 1:08:29
  We will be back tomorrow, same time as usual, 12:15 PM Eastern
• 1:08:32
  Time on YouTube. And we will continue to spread
• 1:08:36
  the Bitcoin signal, like share, subscribe, all that good stuff.
• 1:08:40
  Continue to spread the Bitcoin only signal.
• 1:08:43
  Propagate the Bitcoin signal in the echo chamber.
• 1:08:46
  And outside of the echo chamber, I know it's hard to orange put
• 1:08:50
  your friends and family. But hopefully we're building
• 1:08:53
  something here. So when the bull run starts
• 1:08:56
  again, people will want to hang out with us.
• 1:08:58
  They will want to learn and we'll do it in an entertaining
• 1:09:01
  way at the very least. So in time guys, number will go
• 1:09:05
  up, rocket ship will go up. So just continue to stack,
• 1:09:08
  continue to stay humble, continue to stay solvent.
• 1:09:11
  This is the way. And then of course so I always
• 1:09:14
  stay on spaces, eat good, feel good.
• 1:09:17
  This is the way continue to spread the Bitcoin signal.
• 1:09:21
  On that note, guys, we appreciate you guys and we will
• 1:09:25
  be back tomorrow. Peace out.