Latest / Simply Bitcoin / Bitcoin Regulation INCOMING, Why This Will Push BTC to $100k | EP 494

Transcript

Bitcoin Regulation INCOMING, Why This Will Push BTC to $100k | EP 494 · Simply Bitcoin

0:04
Welcome back everyone. We're simply Bitcoin.
0:07
We break down the news. The daily fail meme review,
0:10
software releases, Hardware releases and the plebiscites
0:14
joining us today fellow Bitcoin Ur State Rep and candidate for
0:20
u.s. Congress.
0:21
We've got Tim Baxter joining us. Tim.
0:24
Thank you very much for joining us on the show.
0:27
Oh, thanks for having me today. I'm really excited.
0:30
To be with you guys today. Thank you so much.
0:33
And by the way, it's very important.
0:35
Right? We like to remind the viewers.
0:36
It's important to vote. We know that Bitcoin is becoming
0:39
political. So don't forget if you are in
0:42
New Hampshire and you are voting.
0:44
Check out Baxter for congress.com.
0:47
All right, we are diving into the numbers.
0:49
Let's do it. People brought to you by noddle.
0:52
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1:15
The block height is seven hundred thirty eight thousand.
1:17
One hundred sixty-six the Bitcoin price 20 8470 chain
1:22
rewrite day, 760 total public lightning capacity. 3917 dot 39.
1:29
In Moscow, time, 35:17 blocks to the having 100 1834 total
1:37
public. Nope, total unspent capacity in
1:41
the samurai. Whirlpool and Samurai Whirlpool
1:45
is a coin or collaborative spend.
1:47
It is not a mixing service and the unspent capacity from that
1:50
pool is four thousand, seven hundred eighty, 1.59 Nico, the
1:55
numbers. And I just want to point out
1:58
before we dive into the numbers. Our theory is back in play as
2:03
the Bitcoin as the Bitcoin Kaka price drops.
2:06
The lightning capacity is growing.
2:08
So just like a broken clock. We are right twice.
2:13
I feel like that. I feel like that's why some of
2:15
the TA guys, get get super famous because they just happen
2:19
to be right on the coin flip. But anyways, guys, we've been
2:22
covering this for the last. I would say, last week.
2:26
We've been telling you how there's two opposing forums
2:30
happening. Right.
2:30
Now, there's the forum for Freedom, the form for Bitcoin,
2:34
which is the Oslo Freedom Forum. Shout out Alex.
2:36
Glad see, you know, you put a lot of work into that.
2:39
Shout out to all the people that went there and I saw a picture
2:41
of hot a lot in there as well. And the crowd, we miss you
2:43
brother. And then the opposing Forum the,
2:47
the form of my opinion future, techno communism, also known as
2:52
the world economic forum and their plan for CBD seas and the
2:58
implementation of the social credit system also, Known as ESG
3:01
environmental social governance and there's actually look at the
3:06
stuff that we would have been labeled as conspiracy theorist a
3:10
while ago. These people have no shame at
3:13
this point. They're telling you from there.
3:16
It's coming from their mouth themselves, right?
3:18
This is the future ahead of us. A future of slightly
3:22
inconvenient Freedom, which is Bitcoin and slay of future of
3:27
slavery, which is what Central Bank, digital currencies.
3:30
Are going to enable and what pluperfect more to talk about it
3:35
than a candidate for congress Tim.
3:39
He's on the show. So let's get Tim's opinion on
3:42
the what those crazy folks are saying at the ref poke about
3:47
yet. There are two ways on Central
3:49
Bank, digital currencies. One is the more the wholesale P.
3:52
So, basically, our interactions as a commercial bank with the
3:57
with the, with the central bank. And here I would say It makes a
4:01
lot of sense. This is new technology coming
4:03
in. You can talk about it, the
4:04
advantage disadvantage, but at the end it's inefficiency game
4:07
and maybe it's a security game. Makes a lot of sense, a
4:10
completely different ball game. It is when you start to talk
4:13
about the retail, you know, Central Bank digital currency,
4:20
not because it's digital II. Can pay this digital with my
4:24
mobile, has nothing to do with Central Bank, digital currency,
4:27
but I think the fundamental changes the Lying business model
4:31
is as I as a retail customer as a citizen, will have an account
4:37
with the central bank. I don't have just an account
4:39
with a Commercial Bank. I have it listed Central Bank,
4:42
which has a lot of advantages for me of it's safe.
4:45
It feels good. But yeah, there are some
4:48
challenges with this because the central bank is ultimately, you
4:52
know, it's a public office commercial banks are under a
4:57
commercial regime. Central banks are not under
5:00
compulsion. Commercialism what about
5:01
interest rates on an account like that when things are going
5:05
well. How does this look like?
5:06
Oh, on the bank run. How was this look?
5:08
Like, is this accelerating the bank run?
5:10
Because I have the safe account with somebody.
5:13
So, these are then the fundamental question.
5:16
That's why I think it's excellent to see that 90% 87.
5:20
I think central banks are, are looking into that and try and we
5:25
need to figure out how that all can work.
5:28
But having said, what is ongoing I And I worked for 10 years. 15
5:32
years in that new toilet. Technology blockchain.
5:35
We see now the room, the market is collapsing.
5:37
Okay. Let's see.
5:39
It, 5 or 10 years, something will survive?
5:42
Something will survive and I think we should all make sure we
5:44
understand what that will be. So clearly we know where they're
5:50
heading with that stuff. I love the part where he just
5:55
just briefly touched upon the potential issues, but just seat.
5:59
He he just Just slightly mentioned it but, you know, and
6:03
of course he mentions blockchain and he mentions how CB D C's or,
6:08
you know, they're exciting. It could be slightly
6:11
inconvenient for the user. But remember you're safe, right?
6:15
So yeah, it sounds a little dystopian to me.
6:19
He sugar-coated it. But I mean look, they're saying
6:25
it out in the open. Now.
6:26
This is exactly what they want. And of course, conveniently.
6:30
There's no mention of Bitcoin whatsoever.
6:34
That is not a coincidence. Anyways, Tim.
6:37
What is your stance on CBD sees? And what would you do if you're
6:41
elected to congress? Would you support and backing?
6:45
I know us Congressman has already released.
6:48
I think it was actually Ted Cruz as a senator that released a
6:51
bill that would make it illegal for the Federal Reserve to
6:55
launch a CBC. Would you be on board with that?
7:00
Well, I guess is glad that Ted Cruz is doing something that is
7:04
and anti-freedom. It seems like lately.
7:06
He's just been going down the wrong rabbit hole, but he's been
7:10
getting better on bitcoin and crypto.
7:12
I'll say but you know, just more broadly.
7:15
Before I answer the question about CBD sees.
7:18
I'm a big believer in Freedom and maybe the most important
7:22
thing is freedom in money money, you know, controls everything to
7:28
a large extent, a lot of stuff flows.
7:31
From money and I like to say because I consider myself a
7:35
populist of, there's a lot of people on the right especially
7:38
that consider themselves, the populace and the ultimate
7:41
populist issue. It is freedom and money and
7:44
Bitcoin and you're right that there are politicians.
7:48
They want to take the stuff from Bitcoin and move it to a CB DC
7:52
and I'm adamantly opposed to see bdcs because there are trojan
7:57
horse. You could column you can just
7:59
say they're And think about when he was mentioning those negative
8:03
things to him. I think the people in the
8:07
audience there that they see those as positives, right?
8:12
They want the bureaucrats, the state to have even more control
8:16
over our money than they do now. And they already have your
8:20
central bank and their central banks around the world.
8:23
So, we should be adamantly opposed to see bdcs.
8:27
And I think this is a really important issue because the The
8:31
Bitcoin space and just more broadly, the crypto space which
8:35
has a lot of new people that have come into it.
8:37
The past couple years a lot of new investors people from Main
8:41
Street. I hear people that are crip Pro
8:43
crypto for example, which is different than this audience,
8:47
but they would say, you know, some people they put them as the
8:50
same group, right? And there's people that say
8:52
they're Pro crypto and they talk about CBD sees as a good thing,
8:57
which is crazy. If you understand what Bitcoin,
9:00
Represents and what it's supposed to mean.
9:02
So we need and I really appreciate you highlighting this
9:05
issue. But we need to be adamantly
9:07
opposed those of us that support Bitcoin adamantly opposed to see
9:11
bdcs. Absolutely Phil.
9:14
You want to add to that? Yeah.
9:17
I actually just wanted to add because one point.
9:20
Okay. It's interesting at the end that
9:21
he goes something will survive and we need to see what will be.
9:26
So again, right Bitcoin is the only thing that actually will
9:30
survive. In terms of blockchain
9:31
Technology what people haven't understood is that blockchain
9:33
technology is only useful in a Bitcoin space.
9:38
I understand that there are a lot of proponents for quote
9:40
unquote crypto, but as we've said in the past, right
9:44
essentially, none of these Technologies, none of these
9:48
Technologies, especially these security tokens, utility tokens,
9:50
whatever you want to call them. None of these Technologies
9:53
actually require a token to perform their functions like
9:57
these file sharing services and whatnot, which people tell Out
10:00
and they end up getting rekt. Buying these shit coins for no
10:03
apparent reason. So I honestly believe that there
10:06
needs to be this, this, this distinction between, you know,
10:11
Bitcoin and quote-unquote crypto.
10:13
So, let me ask you this because there's a bit of a, a bit of a
10:17
gray area, right? Because as bitcoiners, we're not
10:19
fans, necessarily of the government stepping in and
10:22
legislation. But what are your thoughts about
10:25
regulating stuff, like, defy, stable coins, you know, shit
10:29
coins, So as I said, I believe in Freedom and money, I think
10:36
some amount of clarity would be a good thing.
10:40
And so some minimal framework of Regulation.
10:42
That's essentially just legalization.
10:45
You can look at what Wyoming has passed, Tyler went home?
10:49
Who's a State Rep, who now works for son or Wellness, doing
10:54
policy and Bitcoin and crypto policy for he helped up usher in
10:59
a lot of their laws. I've been trying to replicate
11:02
those with other reps in New Hampshire and all basically just
11:05
says, is if you're in an investor a consumer, I an
11:10
exchange. You can, you can build your
11:13
product. You can build, you can call the
11:15
shit coin, but people should have the freedom if you want to
11:19
buy and invest in defy, that's your right.
11:23
And there might be something that we don't see.
11:26
And the more you know down the rabbit hole.
11:28
I go down Bitcoin and If do this whole Space looping them
11:32
together for a sec, which I know might drive, you guys all nuts.
11:35
The more, the more I say. Okay, I think Bitcoin is the
11:39
best thing that's out there right now.
11:42
And so personally myself, you know, most of my money, that's
11:45
where I'm going to allocate my own money, but people should be
11:48
free to do whatever they want. I think Bitcoin is
11:51
decentralized, right? It represents the values that I
11:54
believe in, but someone that believes in Freedom and as we
11:57
know, lots of cryptocurrencies are Decentralized.
12:01
And that's something that a lot of people don't understand
12:03
necessarily that just use the two terms interchangeably, but I
12:09
think crypto different cryptocurrencies, even if they
12:12
are, you know, basically scams people should have the freedom
12:16
to invest their own money and if they lose money, that's, you
12:19
know, that's their choice. I just want to change the term
12:23
invest for gamble. Yes, I do agree with you.
12:26
I completely agree with you, right?
12:27
Everyone has the right to get wrecked.
12:29
You know, like if If somebody if so if somebody steals your
12:32
garbage and you think like this is great and you know, you lose
12:36
your shirt on it. Like you're free to lose that
12:38
then I don't think that anybody else should have to pay the bill
12:40
for you, you know, well our sorry foot the bill.
12:42
I mean, what's the other option? The other option is more
12:45
bureaucracy, more government in order to ensure that people
12:49
aren't buying that, but I agree. I agree with the free market
12:52
solution and the Luna flush out was the free market doing its
12:57
thing. And of course, you have all
12:58
these people know this can't happen like know.
13:00
That is capitalism. It's happening.
13:02
This is how it goes. So yeah.
13:06
Yeah. And just on that, right, what
13:09
happens when other stuff goes down, like the Luna flush of is
13:13
your calling it. BTC percent dominance as a whole
13:17
goes up, right? So if you believe in BTC, then
13:20
it is actually a good thing overall.
13:23
And what happens is, people look at that and they say, well,
13:25
maybe I shouldn't be invested in these algorithmic, stable coins.
13:30
Right, what even is that? A lot of people are asking that
13:33
now, but before they were just taking stuff at face value and
13:36
so it makes people better investors, you know, if there's
13:40
no if you can never have something go down, then you can
13:42
never have a crash. People think the gravy train is
13:45
going to go on forever and that's obviously not how the
13:48
real world works. Of course.
13:50
I completely agree. That being said, Phil it's time
13:53
for the daily fail brought to you by Swan.
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platform by fellow Bitcoin plebs.
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The link is down below. All right, on the heels of that
14:16
numbers discussion. We are going to dive into
14:20
essentially wall Street's thoughts.
14:23
And more importantly, the bankers thoughts on cbc's
14:26
because, you know, you kind of think that all of these people
14:29
are on the same team, but maybe just maybe the bankers don't
14:33
want, see bdcs either. Anyways, Wall Street says a Fed
14:38
digital dollar spells Destruction for banks.
14:43
How long ago did did we say this Nico?
14:45
They they obviously watch simply Bitcoin, they do.
14:48
I mean they they definitely watch us so we'd like to think.
14:52
Oh, okay. Here we go.
14:54
All right. Want to make the screen bigger?
14:56
Okay, the Federal Reserve launching, its own digital
14:59
dollar. Would crack the foundations of
15:01
banking. As we know it according to
15:03
letters industry lobbyists sent to the US.
15:06
Central Bank on Friday, don't take away.
15:08
Our jobs are still useful. Anyways, a government-run
15:12
digital dollar could have profound implications on the
15:14
financial sector and also on the stable coins issued by
15:18
cryptocurrency firms through the honestly you think the bankers
15:21
really give a shit about stable coins.
15:24
I don't think so. Anyways current research
15:27
overwhelmingly undermines the purported benefits of see beat
15:31
of a CBC and instead indicates that a CBC would seriously The
15:36
financial system, significantly harming, consumers and
15:40
businesses. It's really interesting to see
15:43
these two ends of these go out, it against each other.
15:46
I've never seen the, the bank's stand up for the people before,
15:49
but I know that that's not the real.
15:51
That's not the real incentive and motive and he weighs another
15:54
bank or in my opinion. I should say, another banking
15:57
group, in Washington, the American Bankers Association
15:59
predicted on its own letter. That a digital dollar would mean
16:03
deposits accounting for 71% Of Bank funding are at risk of
16:09
moving to the Federal Reserve. That would dramatically increase
16:13
the costs of funding in the banking sector to an
16:16
unsustainable lever, a level. The ABA letter said, okay, now
16:21
before we dive into the shit coin fails, let's let's talk
16:24
about this a bit. This is really funny because
16:29
what it tells us is that number one.
16:32
They don't provide any value. Number two, that I'm talking
16:35
about the banks, the banks don't provide any value.
16:37
Number two, they are scared shitless because this means that
16:41
the Federal Reserve Who's printing money out of thin air?
16:44
Okay. Also realizes that banks are not
16:47
having any value. This is this is really scary
16:50
times. Now, what we said, probably over
16:53
a year ago. We started saying this already
16:55
is that banks in a, in a Bitcoin world?
16:57
I don't even care about the cdc's.
16:58
Forget about the cdc's because right now, the Federal Reserve
17:01
is so far away from actually coming up with a CDC proposal
17:04
for real. It doesn't even matter.
17:06
But the point is, in a Bitcoin World.
17:09
These institutions are going to have to figure out how to I add
17:12
real value. They're not just going to get to
17:14
charge you, these ridiculous monthly fees and these the, you
17:17
know, that these bounced check fees and all of this crap
17:20
without providing actual value. Because the money is in printed
17:24
out of thin air. These institutions aren't just
17:26
going to come out of nothing like they do now.
17:28
They are going to have to come from proof of work.
17:31
People are going to have stabbed real skin in the game.
17:34
Anyways, those are just my thoughts Tim.
17:38
I mean, what are your you know, what are your thoughts on this
17:40
on this article? Do you think I mean, am I?
17:42
I could definitely be hyperbolic.
17:46
Yeah, it's you know, I'm always skeptical of what Wall Street.
17:51
The financial industry. I just think that their their
17:55
entrenched interest is going to be opposed to bitcoin and told
18:01
there's just so much exposure to bitcoin on their balance sheets
18:04
that they change their mind. But one thing I think is really
18:07
interesting. You're talking about the Federal
18:08
Reserve. How do we talk like, this is
18:11
what I'm saying, is interesting. How do we talk about Bitcoin the
18:14
way to people that don't Did I talk about the fed and
18:18
inflation? They have expanded their balance
18:20
sheet, from four point two trillion in March of 2022,
18:24
almost nine trillion now, so they've literally printed more
18:27
money, the Federal Reserve in the last two years than the rest
18:32
of American History, combined. That's insane.
18:36
And that's why we're seeing all this inflation, right?
18:39
I say it's not rocket science, they're spending and printing
18:42
money like drunken Sailors, the politicians and Lubin.
18:46
That the central Bankers in the political class and what's the
18:50
solution to this inflation Bitcoin and immediately, you
18:54
know, old people generally speaking other people that are
18:58
most involved. I like stop myself there because
19:00
I didn't want to be disparaging but people that are generally
19:04
more involved in politics or older and they don't know what
19:07
Bitcoin is that often and that's okay.
19:10
But when you say Bitcoin is a solution to inflation that
19:14
changes the whole conversation. And I think we need to do two
19:18
things as a community. We need to reach out to other
19:20
politicians. Bring them on board passed the
19:22
right legislation. Make sure things like CB D C's
19:25
are prevented make sure Bitcoin isn't banned or regulated to
19:29
death. We see folks like Elizabeth
19:31
Warren saying that Bitcoin only works for the rich whenever
19:34
we're going to get. We're going to go to Elizabeth
19:36
Warren. That's okay.
19:37
Hold on. Hold on.
19:41
Elizabeth. The politicians we got to
19:48
educate them and bring them on board, but then we need to reach
19:50
out to the public is the second thing.
19:52
And we need Champions to do both of those and that's a leading
19:57
role that I want to have in Congress.
19:59
And that's why I hope people in the audience will support me and
20:02
you can do that Baxter for congress.com.
20:04
Absolutely. Phil.
20:06
What is the next fail? All right.
20:08
Here we go. So we are going to and I'm not
20:12
sharing the screen. Okay.
20:14
So here we go. We're gonna have two fails right
20:18
to shit, coin, fails and the theme, the theme of these fails.
20:23
We hate to say we told you so but we told you so number one
20:25
and number two, broken promises. Okay, this is the this is the
20:29
shit coin Mantra is broken promises.
20:32
Listen, we all want to promise unicorns.
20:34
I know what it's like I want amazing things that aren't real
20:37
to be true, but they're not and eventually if it's too good to
20:41
be true. It usually is.
20:43
Anyways, let's dive into this first one.
20:45
Avi ends rewards in the latest blow to yield Farmers.
20:49
Oh my gosh the market cratering and now the shit.
20:53
And not paying the yield who would have thought.
20:56
Anyways, Abby has stopped offering incentives on to
20:59
aetherium version to users in. Its native token, Ave as a total
21:04
value lock tvl, right? They always like to use the
21:06
acronyms make it sound like it's real.
21:08
Professional of eight point five.
21:10
Seven billion of is the third-largest defy protocol and
21:14
the largest decentralized money market.
21:18
Decentralized. I love that.
21:20
I love how they just throw these words for now obvious main
21:23
rival, etherium based money, markets compound continues to
21:28
offer compare Awards to its users.
21:29
But compounds Community is divided on whether to continue
21:32
contributing incentives in March, the compound Community
21:35
voted to slash rewards by 50% to prevent opportunistic, yield
21:39
Farmers, from harvesting all the rewards.
21:43
Maybe maybe this shouldn't have had people's money in this.
21:47
You would have figured that out already.
21:48
Maybe just saying anyways, the proposals author, Tyler low and
21:52
emphasize that an overwhelming amount of the compare words are
21:55
being farmed and instantly sold off that right.
21:58
There is the signal. Nobody cares about your shit
22:01
going. They like, it's an instant flip.
22:06
It's pure garbage. And anyways, all right, let's
22:08
move on. Let's move on.
22:10
Compounds Community blames the inflationary incentive scheme
22:12
for comp. Performance.
22:14
That's right. If only we didn't have this
22:17
inflation scheme, we'd have such a better token performance,
22:21
token. Amex people.
22:22
The token is Crash 93.2% from its peak of 910 Ave.
22:27
Also down 85 percent since it's May 20 21.
22:34
Hi guys. Look, I hate to say it.
22:37
But this is only the beginning, you know, I put out a tweet a
22:40
couple of weeks ago. You don't think that - is 99.98%
22:45
is real until you're actually looking at it in your portfolio.
22:47
When you're thinking all of those partnership parades all of
22:50
those promises, all of that Tech.
22:52
What about that Innovation? It's not about the Innovation.
22:55
They're freaking fooling you with this crap.
22:58
Okay, what you need is hard money.
23:01
This technology does not need to be money.
23:03
Okay. Anyways, moving on to the next
23:05
part before we rip on this garbage.
23:07
Here we go. Here we go, unfortunately.
23:11
Salon is running out of time. Literally.
23:14
Salon is blockchain clock, loses track of time.
23:16
Now, running 30 minutes behind, imagine that you went and bought
23:19
into this shit going. Because this thing had tons of
23:22
marketing, right? A 16z as a backer and this
23:25
thing's gotta be good. The tech.
23:28
Anyways, solanas blockchain clock is currently a drift of
23:32
real-world time by 30 minutes due to longer than ideal slot
23:36
times on the network. The project reported via its
23:39
status page on Thursday. At least they were transparent
23:42
about it. While Solana is a proof of stake
23:46
blockchain, the network also uses proof of history as a
23:51
consensus algorithm. How does it use proof of History
23:53
if it can't even keep track of time?
23:56
Anyways, I will continue proof of History, takes care of
24:00
solanas, timekeeping by enabling now.
24:02
It doesn't it's not taking care of some hottest.
24:05
I'm keeping my enabling each node on the network to maintain
24:08
an accurate record of time. That's not true.
24:10
Either apart from on Shane timekeeping being out of sync
24:14
with real-world time. The slow slot time.
24:16
Issue could have could also have some economic consequences
24:19
related to annualized staking rewards.
24:24
Hmm, there go those Rewards And that's interesting.
24:29
Solana is no stranger to these operational performance issues.
24:32
The network has suffered outages on different occasions with the
24:35
blockchain. Not processing transactions for
24:38
several hours at a time. Now, I remember seeing so much
24:43
Solana, Schilling, and Nico. I remember you getting
24:46
solicited. I think, 22 shell Solana.
24:50
This is just hilarious. I find.
24:52
I'm so sorry. I don't mean I'm not laughing at
24:54
the people getting rekt. I am laughing at the Stupidity
24:57
of these shit coins. Okay?
24:58
And the Ridiculousness this whole thing.
25:00
It's the blockchain. It can't even keep track of
25:03
time. Okay.
25:04
This is like the most basic thing is that it has to keep
25:07
track of time and it can't even do this and people are trusting
25:11
their value on this thing. I remember a time.
25:13
I think it was like 200 bucks or 250 bucks for this shit coin.
25:17
Any. Yes, dude, chick, coin casino,
25:20
man. That's what they do.
25:22
And bro. Yeah that it's what we were we
25:25
were spot-on. When we Although we said the
25:27
reason that these geocoins go up is because they partnership
25:30
partnership partnership. Bill was right.
25:32
There was a one point, they reached out to me.
25:34
Okay, how would you like b v to be associated with Solana Labs?
25:37
Like it. It's a total joke.
25:40
There's a reason that there's so many transactions per second as
25:43
they advertise and that is, they sacrifice.
25:46
They sacrifice the centralization to, in order to
25:49
do that. And that's something that's
25:51
really hard for people to understand specially getting
25:53
into the space. They look over the
25:55
centralization. Ocean and they focus on, oh,
25:58
look it has all these bells and whistles.
26:00
Right? But the whole point of a
26:02
cryptocurrency, if you really want to separate money from
26:04
State, it needs to be, sufficiently decentralized.
26:07
That's that's just the reality of it.
26:09
And so far only Bitcoin has been able to do that.
26:13
But anyways, Tim, what are your thoughts?
26:15
Yeah. Well, I think there's a lot of
26:16
people that they're not looking for that decentralization.
26:19
They're looking for a quick Buck.
26:20
You were talking about the token omics, you know, some of these
26:24
defy projects or maybe In generous some but what's the
26:28
token? I mix it spawns enom X basically
26:31
and that's the problem, you know compare that with Bitcoin right
26:36
and all these a lot of these projects right?
26:38
You invest all this money and then they're going to create all
26:42
these Partnerships or create all this Innovation afterwards.
26:45
It's kind of odd, you know, especially when they always tell
26:49
you what the Innovation is going to be.
26:51
But compare that with Bitcoin because you know, we're talking
26:54
about, how do we message this? To just average day people will.
26:59
I'm in New Hampshire. It's where I represent and Rule
27:02
America has been decimated by globalization.
27:05
There's been winners and losers and what's one way we can
27:08
Revitalize. Rural America Bitcoin mining
27:10
through fruitful work, right? These are high-quality paying
27:14
jobs. And at the same time this is you
27:18
know, D connecting money from State such an important thing.
27:22
So to me, I think you're absolutely right that Bitcoin.
27:24
First and foremost. It's not about the book.
27:26
Chain, it's not right. It's about giving people sound
27:31
hard money, as you said, and that's something that we need
27:34
people understanding that. There's a lot of people getting
27:37
involved in the Bitcoin /. Crypto.
27:40
If you want to merge those together for a second in the
27:43
that political space and we need people that clearly understand
27:47
the difference and are going to be champions for getting rid of
27:51
the central bank's and giving people back control of the
27:55
money. And that's what Bitcoin can do
27:57
Bitcoin, is that solution? Absolutely man, beautifully
28:01
beautifully put and look if we had all of Congress and all of
28:06
the Senate saying, the things that Tim Tim is saying the the
28:12
the US and the world would be a much better place.
28:15
So keep that in mind as the years go by Bitcoin will
28:18
continue to continuously get more contentious politically,
28:22
remember to support the right type of candidates and Tim is
28:26
one of those. Definitely go check out his
28:27
website, right? That support all the candidates
28:29
that we've had on. They all, like Bitcoin.
28:31
But anyways, Phil, it's time for the daily meme review brought to
28:35
you by Citadel. One you'd best Bitcoin, cultural
28:39
scene, stories, articles Comics. All I hear pure plebs signal.
28:44
Every volume has different artwork.
28:47
This is artwork for volume 11. It just dropped, and this is
28:50
artwork for volume 2 and they're scarce.
28:52
There's only a thousand physical copies made per volume.
28:56
Volume 1 is already sold out. So get your print of Citadel 21
29:00
today before they run out. All right, everybody, Welcome to
29:04
the Bitcoin meme review where we review, Bitcoin, memes me.
29:07
Play an essential role in this narrative.
29:10
Trench warfare that's been being fought in the battle.
29:14
Grounds of the internet on Twitter, on YouTube.
29:17
Memes are freaking artillery in this information more.
29:21
Anyways, first meme is by evil, not got not kathi.
29:25
Ghosts in a kathi. Super awesome pleb big fan Koda.
29:29
No making fun of yellow pus. Hey kid, want to buy some
29:32
cardano. It's Charles hodgkinson and the
29:35
back of the bottom of the sarlacc pit.
29:37
It absolutely hilarious than retweeting.
29:40
Someone. Hey kid.
29:41
Want to buy some my new web three token.
29:44
I'm gonna give it to the ghost of necati.
29:47
Upgrade to the original meme. Next to me is by naive cat.
29:51
Awesome. Emer legendary.
29:53
Let's check it out. Spot ETF SEC delay.
30:02
Short simple. So the point I like it.
30:05
Alright, next meme brought To Us by Giggles Mama.
30:09
Let's check it out. Noobs web three centralized shit
30:12
coin Page Hill promotion rug pull Ponzi token Dominic's back
30:17
and backed by the west and the EU Unlimited Supply.
30:23
That's one of the best, bro. Shout out to shout out to
30:25
Giggles mer Bitcoin croissant. Never ask a woman her age.
30:30
A man, his salary, Christine Lagarde.
30:32
How will she reduce the ecb's biology?
30:35
That is an amazing meme by the plebs.
30:37
Next one. Bye labra hottel, let's check it
30:41
out. Have fun staying, poor know.
30:43
My crypto investment is down, 90%.
30:46
And then the the 145 IQ guy. There's nothing wrong with being
30:50
happy to see shit, codes getting destroyed.
30:52
All shit coins are inevitably going to 0 and the bigger they
30:55
get, the more people eventually be hurt when they do the sooner.
30:58
They die the better Savage by say 15.
31:01
All right, and this is a meme replying to that exact tweet and
31:05
it is by Richard Whitman friend of the show.
31:09
You are not just a a 16z exit, Liquid Fire and that's someone
31:15
in denial. Absolutely hilarious.
31:17
Okay, last but not least, we got tagged by this one descent to
31:20
pod, 50 Cent. 50s at. All, right.
31:23
Very good. Awesome.
31:25
Awesome. Memes.
31:26
Shout out to the plebs, Phil. What would you give those memes?
31:29
While look for a score. Gosh.
31:32
All right. All right.
31:32
I'll go first. Alright, you know what?
31:34
I don't think I've given this decal yet.
31:36
This is my original logo, that was made, and this is from B Ko.
31:42
I'm gonna steal it from Phil and then I'm going to send him a
31:44
video of me on minting it, but I have, I have a few I will give
31:47
you one stick it, all right. Tim, what would you give those
31:53
memes overall or eat? They're all so different just
31:59
you want. If you're off smothered
32:00
individually. It's up to you.
32:03
Up to you and you don't have to score all of them.
32:06
If you don't want, if there's certain ones you want to score
32:07
and other. If I my my my two favorite ones
32:11
where the ECB balance sheet and also the Giant Octopus.
32:16
I like that Tesla. Okay.
32:18
All right. This one.
32:19
You said you said, I don't have to give it a number.
32:21
I can just give an object. Right?
32:23
Exactly the octopus. What I'd give to she can sue?
32:25
She's my favorite food. So, she, all right.
32:29
Well, now I feel like a basic white guys.
32:31
Ha ha ha. I'm gonna get cancelled.
32:37
All right. Sorry, you're on simply Bitcoin.
32:40
So, there's been much worse things.
32:42
They don't know. I believe that.
32:45
All right. So for me, I'm going to give
32:47
those memes. So Toshi, the Bitcoin chicken,
32:51
the only clucks, when the price of Bitcoin reached, an all-time
32:53
high, but he's been dying to get out of the cage and do a cameo
32:58
clock. So there you there.
33:00
You guys go. It's been all Joshi the Bitcoin
33:02
chicken anyways. As we want to know, if you agree
33:04
with their skirts, you disagree. Let us know down in the comment
33:06
section. Comment, comment, comment helps
33:07
with the mysterious YouTube algorithm.
33:09
And, of course, make sure to subscribe to us on alternative
33:12
video platforms, like, Rumble.com, and our personal
33:14
favorite Bitcoin tv.com. They don't censor their and make
33:18
sure to join our awesome telegram group.
33:20
It's a party in there. A lot of plebs.
33:22
We're all hanging out and you can link us a Bitcoin meme to
33:25
review on the Bitcoin review. But anyways, Phil it's time for
33:28
it. The Daily News brought to you by
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crypto cloaks.com. Alright, everybody.
34:00
So this is the bill that Tim I'm was referencing in the earlier
34:06
part of the show. Finally.
34:07
Looks like a bipartisan bill is going to be at least tried right
34:14
in Congress to see if it passes as bipartisan support.
34:18
Cynthia. Lummis, has done an incredible
34:20
job, trying to make sure that all parties are happy.
34:23
This would rectify. The thing, that the treasury
34:27
snuck into the infrastructure Bill, where they would label
34:31
miners, as Brokers and that would force minors to report.
34:36
Everyone who's involved in kyc everyone who would be involved,
34:40
but you can't do that in a minor, right?
34:42
So it would potentially be that law, how it how it currently
34:46
exists. Today would be used as a stick
34:48
to go after bitcoiners that the behest of the US Treasury.
34:53
So this bipartisan bill would fix that and it does a couple
34:56
other things. Let me read a little bit from
34:58
this article and then we'll get everyone's thoughts.
35:00
The cryptocurrency industry will be laser focused on Well, he'll
35:03
in the coming weeks after Democrat Democrat, Senator
35:07
Christine gillibrand of New York and Senator Cynthia.
35:10
Lummis, said Tuesday, that they will unveil legislation in June.
35:12
That would create a comprehensive Baseline for
35:14
cryptocurrency regulations. United States bill will allow
35:17
this industry took to grow flourish, continue to innovate,
35:21
allow us to compete worldwide with the most stable Market
35:23
possible here in the United States.
35:25
The legislation would codify both Bitcoin USD and eith USD as
35:30
Commodities. And lummis said it is our Ain't
35:33
that the cftc takes the Reigns of jurisdiction, over those two
35:39
under the current law. The cftc overseas markets for
35:41
derivatives based on Commodities, but it doesn't
35:44
police. The markets for those
35:46
Commodities themselves critics of the current regulatory
35:49
framework argue that this leaves little protection for investors
35:52
who buy and sell cryptocurrencies from
35:54
individuals or on exchanges. The bill would keep in place.
35:57
The how we test for other cryptos.
35:59
This is this would really affect shit coins.
36:03
It would really affect shit coins this legislation, a
36:07
doctrine that the US courts. And Regulators used to determine
36:10
whether or not financial instruments should be considered
36:12
security and therefore under the jurisdictions of the Securities
36:15
and Exchange Commission. It would also make clear that
36:17
miners of Bitcoin. And other cryptocurrencies, not
36:20
considered broker-dealers and would therefore not be subject
36:23
to the more stringent IRS reporting requirements.
36:27
And here's Cynthia. Lummis.
36:28
She says, we're trying to find a sweet spot between allowing
36:31
Innovation to continue to Unimpeded by regulation but to
36:35
provide regulatory framework. Now in terms of the ETF the the
36:42
spot ETF that everyone's waiting for this or Cynthia.
36:45
Lummis his comments on that. I've met with SEC Gary Gensler,
36:49
we've kicked this bill around and he's very not he's a very
36:52
knowledgeable regulator behind closed doors.
36:54
I think he expresses a deep understanded understanding.
36:57
So I actually have confidence that the regulatory framework
37:00
that exists is going to be the right regulatory.
37:03
Framework going forward and of course if she's referencing Gary
37:07
Gensler, she is talking about the Bitcoin ETF.
37:11
So a couple things to break down there, right?
37:13
First thing to break down would be that with the how we test
37:17
implemented. That would be a big nightmare
37:20
for any future. Ico future shit coins, right?
37:24
That are going arounds, existing Securities laws with that in
37:28
place would be very difficult in terms of the Commodities thing.
37:31
Of course, all bitcoiners are like look, Regulation is bad
37:34
less regulation, less government involvement is a good thing.
37:37
I completely agree. But at the same time remember if
37:42
you keep if you're one of those stupid people that decide to
37:46
leave their crypto on an exchange your at the complete
37:50
behest of that exchange with this law.
37:52
It would put more of a spotlight on those exchanges to make sure
37:56
that they do have the Reserves that they say they do, right?
38:00
So in that sense, it's a little bit better and lasts.
38:03
But not least, this would give confidence to the financial
38:07
industry that Bitcoin was a regular a regulated commodity
38:12
under us law. So let's say I'm other companies
38:16
that are a little bit more conservative than Tesla than
38:19
microstrategy and you just haven't wanted to dip your feet
38:23
in there because you the, the regulate the regulatory
38:26
framework was in this gray area. Now, you know, it's a regulated
38:29
commodity under this new framework, right?
38:32
I'm also That I has a bipartisan support.
38:35
So I think overall this if this passes this was actually very
38:40
bullish for the price, right? So those are my thoughts Tim,
38:44
what are your thoughts? And then we'll pass it on to
38:46
fill. Yeah.
38:47
It's it's certainly bullish for the price.
38:49
You know, Bitcoin is a hedge on inflation, to a large extent,
38:54
but it's also so intertwined with the stock market.
38:57
Now, because so many institutionalized players have
38:59
come into the market. March 20, 20, The price crash,
39:04
it's been really up and down lately and I think some of that
39:07
has to do with just that everything is choppy right now
39:10
because we are in a stagflation environment, you know.
39:15
Other things that jump out, you know Center lummis is such a
39:18
diplomat. She's such a cheese.
39:20
Like I have so much confidence that the FCC would do a good
39:25
job. I don't necessarily have that
39:27
much confidence. I'll say that.
39:29
I think the SEC has a long track record of making pie.
39:33
Local decisions. And I think that was a big thing
39:37
that my guess is that lummis push for behind closed doors,
39:41
you know, the thinking people in the industries that the cftc is
39:45
much more friendly, you know, just sympathetic to bitcoin and
39:49
crypto as a whole then the SEC. So I think that is good.
39:54
I think you see some of the regulation of other, you know,
39:59
just defy and all these other, you know, crazy crypto.
40:03
So currencies is because of the Democrats coming on board.
40:07
They want to see consumers protected.
40:09
They don't want the 99% drops. And so, I think, you know,
40:14
getting a gillibrand onboarding, these other Democrats.
40:16
That's kind of the, the Olive Branch.
40:19
So I think overall, it's very bullish for the price and I do
40:22
think we need to go further in this, I support Ron Paul who
40:26
there's probably a lot of listeners that like, Ron Paul.
40:28
He had legislation called freedom, and money and
40:31
basically, why should Bitcoin be treated?
40:33
Only then the US dollar, it should be treated.
40:36
Tax-wise the same parity. It Bitcoin goes up in price, the
40:40
same way, if the dollar goes up in price again, say that your or
40:43
any other asset, you don't pay taxes on the dollar appreciating
40:47
but you pay taxes on bitcoin. Appreciate it.
40:50
Well, that's not fair. Your artificially penalizing
40:54
Bitcoin in comparison to the u.s.
40:56
Dollar. So that's how we can change our
40:59
legal tender laws. I think it's very important that
41:01
we have someone that's picking up that Mantle, that's driving
41:04
home. We need parity.
41:07
Bitcoin should be treated. Just the same like any other
41:10
currency in America, but overall, I think this is a great
41:15
thing. Absolutely.
41:16
And I really like what that point that you made, and that's
41:20
why we're such big fans of the law in Panama versus the legal
41:24
tender laws in El Salvador, and the legal tender law in the
41:27
Central African Republic because in Panama the government said
41:31
you can use it as a currency. But it's completely up to you at
41:35
the same time, rather than currency by decree, which is
41:40
what legal tender laws are for. And actually something really
41:43
interesting about legal tender laws of the first, the two times
41:46
legal tender laws, were passed in the United States was back in
41:50
the 1930s during f.d.r., When FDR made it legal for American
41:55
citizens to hold gold, right? Yeah.
41:58
Coincidentally, that's when the FDR went that's when the legal
42:00
tender laws were implemented and they're actually Lengthened once
42:04
again in 1970 right before 1971, when Richard Nixon took the
42:10
dollar off the gold standard. So it's very interesting that
42:12
the two times in American history that legal tender laws
42:15
were pushed or the times. When the government was
42:18
basically trying to take your your rare, real money also known
42:23
as gold and giving you this shit coin, also known as the US
42:26
dollar. Anyways, Phil.
42:27
What are your thoughts on this before we move on?
42:29
Yeah. So BTC and Ethos Commodities,
42:32
right? That is like a, it's a
42:34
financialization win. I don't, you know, I mean in
42:37
terms of everyday adoption and people using Bitcoin it, you
42:41
know, it it's kind of irrelevant but it is a financialization
42:44
win. I just want to point out though,
42:46
eith. I don't really think it's great.
42:49
That eith is classified with BTC as a commodity.
42:52
Because I think that that's completely false.
42:55
It is a security. I mean, it it had a 70% pre
42:58
mind. It had expectation of profits.
43:00
I'm pretty sure it fails the Howey test.
43:02
So I Don't understand. I just don't understand how they
43:06
group Ethan. The only way that I can
43:08
rationalize that is because if they don't do this, then somehow
43:13
this has an implication for all the other shit coins.
43:16
So I just anyways, I don't, you know, based on what we've shown
43:22
with its connections to the world economic forum and
43:24
everything like that. I don't like why they were
43:28
included in that. And the other piece that I
43:30
wanted to say about was Cynthia. Lummis, right?
43:32
She's a The math. But you know what perception is
43:36
reality, right? And you know, she, she has
43:40
vested interest in this working. So she's gonna want, I believe
43:44
she's gonna want the SEC to perceive her as a friend, or not
43:49
necessarily a friend, but as a cooperator.
43:52
So you know what, like maybe, I don't necessarily appreciate the
43:55
method but it does work. So Phil has just announced his
44:01
political candidate, see he's running.
44:03
And 2024 to make sure that aetherium stays a security.
44:08
Anyways, speaking of the Democrats.
44:10
We were speaking about them a little bit earlier, Phil 2024
44:16
make America, Phil again. Okay.
44:19
Anyways, so this is an amazing video by The Heritage
44:23
Foundation, Ted Cruz. Michael sailor Catlin long.
44:29
We're all on a panel. They were all asked questions.
44:32
And this was Interesting about what Ted Cruz had to say about
44:37
the left. Now.
44:38
Let me preface this. By first saying we are a
44:41
political and simply Bitcoin. We don't lean left.
44:44
We don't lean right? What we stand for is, always the
44:48
parties that stand for Freedom, this parties that stand for
44:51
Bitcoin. It just happens to be that.
44:54
For some reason, the left and this moment in history there.
44:57
They all of a sudden are against free speech.
45:00
That's a whole other topic. But what's really interesting is
45:05
that the social and political attacks on bitcoin have come
45:11
from, the left-wing parties in Europe in Norway and in the
45:17
United States that is undeniable.
45:19
That is a fact, right? The when they tried to ban
45:22
boofer of work in Europe, came from left-wing parties when they
45:25
try to ban proof of work and they're, they're pretty
45:29
successful at it in New York state, right band.
45:31
Proof-of-work mining. Guess what?
45:33
I'm from a left-wing party in Norway.
45:35
And I think this was The Smoking Gun.
45:37
The Communist Party of Norway wanted to ban proof-of-work
45:41
mining. But here's the kicker it Norway
45:46
100 percent of the electricity used for mining comes from
45:51
renewable energies. So what so Bitcoin was supposed
45:59
to be harmful for the environment, but when it's not
46:02
harmful for the environment because Comes.
46:03
It comes from 100% renewable energies, somehow they're still
46:08
against that which makes me very suspicious.
46:11
I'm not the only one suspicious of this.
46:15
Let's hear. What's your Ted Cruz has to say
46:17
and then there is the advantage of freedom.
46:20
There's nobody in charge. That terrifies government
46:26
decision-makers. Pause for a second and reflect
46:31
why communist China has banned Bitcoin.
46:35
The answer is real serious. Real simple.
46:38
They can't control it. They don't like something.
46:43
They can't control by the way. That is the exact same reason.
46:50
Most Democrats. Don't like Bitcoin.
46:56
Why does Bitcoin make Elizabeth Warren toss and turn and twitch
47:00
at night? Because she wants her sticky
47:05
little socialist fingers. Okay?
47:09
To be able to control every penny and every one of our bank
47:12
account. Okay?
47:13
All right. So without getting more
47:14
political, that's Ted Cruz, obviously, he's being political.
47:17
He wants you to vote. Republican obviously, right?
47:21
But at the same time, remember what I said about Norway?
47:24
And remember what I said about Paul, Hang out that for some
47:27
reason, the political parties that are against Bitcoin are all
47:33
around the world. On the left hand side in China
47:36
and Europe and Norway in the United States.
47:40
It's a very big coincidence, just saying.
47:46
Now let's check out with Elizabeth Warren.
47:48
Has to say and we actually covered this when it came out,
47:53
Elizabeth Warren essentially is not okay with you.
47:57
Investing your 401k in Bitcoin. It's weird that a government
48:04
official is getting getting to decide what you should do with
48:07
your retirement money. And what you are not doing with
48:09
your retirement money. That's absolutely terrifying.
48:13
It is being fought. There, it looks like there's a
48:17
bill by a republican specifically doesn't say here.
48:21
Yep. By senator tuberville of, of
48:24
Alabama. And here it is.
48:27
Again, to prohibit the Secretary of Labor from constraining, the
48:31
ranger type of Investments that may be offered to participants
48:34
and beneficiaries of individual, retirement accounts who exercise
48:38
control over their Assets in such account.
48:40
So obviously, this is becoming a contentious issue.
48:43
You have a very predominant Editor talking about this,
48:47
right? And look, even on a state level
48:50
state senators. In this case.
48:52
It was Wendy Rogers of Arizona, actually introduced a bill that
48:56
would make Bitcoin legal tender in the state of Arizona.
49:00
So obviously the politics of this is heating up.
49:04
It's becoming a partisan thing. Unfortunately.
49:08
We're trying to at least appease both sides a couple days ago
49:12
before the Francis episode. We had an episode called the
49:15
progressive. The case for Bitcoin part 2 and
49:18
we had two lefties, come on the show and make their case.
49:20
And we talked to them about this.
49:22
But listen, guys here is the facts.
49:24
Okay, and you can't deny this and I'm going to say this one
49:27
more time and it's something that's simply Bitcoin picked up
49:30
first. Okay, why is it that the
49:34
left-wing political parties all around the world in the United
49:38
States and New York State Banning proof of work in Europe
49:42
and attempt to ban proof-of-work sponsored by The left-wing
49:46
parties. And in Norway, the sketchiest
49:50
part of all, we're hot on 98 percent of the energy, Norway
49:54
comes from Renewables and 100% of the of the of the Bitcoin
50:00
mining energy comes from Renewables.
50:03
Why is it then that they still want to ban Bitcoin mining?
50:09
And then I see a video of like of that from Ted Cruz that's
50:14
saying, hey, hey wait, Second. They want to control it.
50:18
Look guys. We are trying to stay as neutral
50:21
as humanly possible. But at the same time we're not
50:25
freaking idiots. It looks very obvious.
50:27
I don't know, another answer. I can't I can't think of one.
50:31
But at the same time I don't want to come to a conclusion.
50:34
So I'm going to ask the person who's running for congress.
50:37
What's going on here? What's going on here?
50:39
Tim? Is this true?
50:40
Is this true? Is this about control?
50:43
I think it is and and the Republican Party especially in
50:47
America, but it's around the world.
50:49
It's changed, its more populous. What you're saying, might not be
50:54
true in the Republican party of bush or Mitt Romney where they
50:59
want to use the state to enact their ends to wage endless war.
51:04
But what do you see with the left the outcomes?
51:07
They claim to fight for. If you look at it from that
51:11
angle, whether it's helping Marge.
51:13
Why is groups get more access to the financial system, they might
51:17
be in favor of Bitcoin because Bitcoin is an actual solution,
51:20
right? Who gets hurt the most by
51:22
inflation people that don't have assets, people that are left out
51:26
of the current Financial system, which are these marginalized
51:29
groups. But if it's about ideology,
51:33
right? The left-wing ideology of
51:35
control, think about the trucker's right Bitcoin, gives
51:38
them more freedom if you control the GoFundMe as of the world, if
51:42
you control Roll the money with the CBD.
51:45
See then one you can spend the money on whatever socialist
51:49
program. Elizabeth Warren Can Dream up
51:51
and she's got a lot of them but then second right.
51:54
If if you, if you, if you give that control to the people, you
51:58
no longer can spend that money. So that's obviously as a saying
52:02
that's really problematic, but then you're kind of giving the
52:07
power back to the people as well.
52:09
So it's all that ideology versus do this.
52:13
The ideology versus what they claim to represent.
52:16
And so I think that's why you're getting that sticking point and
52:18
this populist. It's that's why I call it.
52:20
The ultimate populist issue is freedom in money.
52:24
And so the question is, what do Republicans and Democrats
52:27
represent. Is it about the outcomes, or is
52:29
it about the ideology? And you know, I'm skeptical of
52:32
all political parties, but I think this does line up better
52:37
with the right and we need to make sure that we fight for
52:41
freedom and money without Russian that's Bitcoin.
52:44
Absolutely. No, I agree.
52:47
I just I It's tragic to me because I think a lot of people
52:55
believe that the left was for the little guy, but when it
52:59
comes to, I'm not saying all of them, but when it comes to some
53:03
of them, at least what it looks like to me is that they would
53:07
rather remain in command power and control than help out the
53:11
little guy. And that's what Bitcoin
53:13
requires, it requires government politicians bureaucrats.
53:17
They're going to have to anyways to give up some of that control.
53:21
As a Bitcoin is decentralized nature, right?
53:23
So it does that to me is a tragedy and I still refuse to
53:27
believe it, but after covering this for a year, it's very
53:30
difficult to come to another conclusion.
53:33
And I have yet to have someone on the show to tell me
53:36
something. Otherwise including when we had
53:39
the episode of the progressive case for Bitcoin.
53:41
I still wasn't convinced Phil. What are your closing thoughts?
53:44
My friend the same way that the internet disintermediated
53:49
information. I Leave that Bitcoin obviously
53:52
is disintermediating money, but it's also going to
53:55
disintermediate a lot of other things because of what Bitcoin
53:59
touches. And I think one of those things
54:01
is going to be politics because at the end of the day, we do
54:04
have left-leaning politicians that do believe in Bitcoin, and
54:09
would actually want to provide services and that they would
54:14
actually be able to, you know, create a business, maintain a
54:18
profit and provide a service that people are willing to pay
54:20
for. I think that that's kind of the
54:21
problem. Right?
54:22
We now have a government where we people pay for services that
54:26
honestly, we are not getting the full value of, and I do think
54:29
that, you know, as we've seen there are some, there are some
54:32
people on the left who do believe in Bitcoin and there are
54:35
people on the right, very few of them who don't.
54:38
And so, I think that we're going to see a bit of a fracturing and
54:42
there's gonna be this other party that's going to emerge.
54:45
And I think that we're going to have this split between the the,
54:48
you know, the money spigot maximalists.
54:50
And the freedom money maximalists because the
54:53
incentives. The Bitcoin has are just far
54:55
better than anything we've ever seen in history.
54:58
So as people learn as people accumulated as their conviction
55:03
grows about the type of future that it could enable.
55:07
Yeah, I just yeah, I don't see these politicians.
55:10
The money spigot maximalists, you know, like Elizabeth Warren,
55:14
for example, I just don't see them faring very well.
55:17
I agree. Yeah, can I touch on that real
55:19
quick? Because you said Are Democrats
55:22
and talk about the politicians that believe in Bitcoin?
55:25
I'm really skeptical because of that innate ideological
55:30
incentive to be against Bitcoin because they want the state to
55:34
control money. But I do think what's happening
55:37
is Bitcoin is so successful. It's undeniable at this point
55:42
that the politicians realize they're not going to be able to
55:45
ban it one. They can't get rid of it.
55:47
You could ban it but it wouldn't go away.
55:49
And so they It's here to stay. It's almost like the internet,
55:53
if they knew how powerful it would be early on.
55:57
They never would have let it get to the point that it did.
56:00
But now it's like, are there two parties ones for the internet
56:04
and ones for Bitcoin and ones against Bitcoin?
56:06
And once again, Center know, everyone's for the internet and
56:09
I do think that is Bitcoin is so powerful.
56:12
So transformational, that's where we're heading.
56:15
The difference is the internet is not as disruptive to the
56:20
power. Of the political class in the
56:22
same way as powerful as in it is it's not as disruptive as
56:26
Bitcoin and this is where we get into the politics and someone
56:29
like me is there's going to be a tremendous pushback that I don't
56:35
think bitcoiners fully appreciate how strong that
56:38
pushback will be from not just the financial institution
56:42
because the pivot right oil companies can pivot to Green
56:46
energy. They have the the infrastructure
56:50
in the scale. From their business, to just buy
56:52
up new businesses, right? But it's the political class,
56:55
the bureaucracy, the Deep state that hates it more than anything
56:59
else. And that's why we need to be
57:01
ready to fight, and I want to leave that flight and you can
57:06
help me do it by going to Baxter for congress.com.
57:10
Absolutely. Yeah.
57:11
No. And I completely agree with Tim.
57:14
That's something that, you know, we have said, many, many, many,
57:17
many times on this show. We've warned you, we called
57:20
this. A year and a half ago to use a
57:22
guys. And I was like, in denials that
57:24
guys, this is getting political. This is going to become a
57:28
battle, whether you like it or not.
57:30
Wait, what? Wait and see what happens when
57:33
Bitcoin gets closer and closer to the market cap of gold.
57:36
Let's see what happens. And this is why, what Tim was
57:39
saying? It's very important to get as
57:42
many politicians on our side of the football.
57:46
When the inevitable Hammer drops to, at least light in the below.
57:50
Because they're not going to go gently into that.
57:52
Good night. That's just the reality of it.
57:54
They're not going to just hand over the keys, right?
57:56
They're going to try to hold onto the power of the money
57:59
printer for as long as humanly possible, because they benefit
58:03
too much from a not only, do they benefit from it monetarily,
58:06
they benefit from it. From the thing that in patent
58:10
and drunks people. It makes them drunk.
58:12
It benefits them in terms of power.
58:15
But anyways, feel there was an open source software released
58:17
today, want to tell everybody about it software releases.
58:20
To you by Cipher safe. Check them out.
58:23
Cipher safe dot IO. The best way to store your
58:26
Bitcoin seed, don't trust paper. Make sure it's stored in a steel
58:32
wallet like the Cipher wheel or the all new Cipher grid, they
58:35
both come with a tamper-resistant wire and the
58:37
grid comes with a punch tool. We've got Mercury wallet version
58:41
0.7 dot one that was released. The link is down below in the
58:46
show notes. Don't forget to check us out on
58:49
our Audio Only. At forms, Apple podcasts,
58:53
Spotify, and anchor. And if you want to stream a SATs
58:57
Fountain dot f m--, you could stream a SATs through Breeze.
59:00
Awesome. Thank you for watching guys.
59:02
That was our show. If I have to give a shout out to
59:04
shout outs first. Shutout, definitely go check out
59:08
our clothing. Sponsor represent out to d.com
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Phil, and I wear the hoodies every single day.
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You can take advantage of the promo code down below to get 10%
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off. Anything off the represent, LTD.
59:20
Calm online store as I want to give a very special shout-out to
59:24
our awesome guest. He is running for congress.
59:28
Go check him out back sir. Conservative Fighter for
59:31
congress. Go check out Baxter for
59:33
congress.com. You could donate help out his
59:37
campaign. Like I said guys this is going
59:39
to get political we want as many politicians as humanly possible
59:43
holding Bitcoin and having office, but you don't really
59:46
have to trust them. You just have to trust them to
59:48
follow their own incentives. It's a Well as that, right, no
59:51
one is better than their incentives.
59:53
At the end of the day. So we want as many politicians
59:57
houghtaling that Bitcoin. Anyways, guys, you enjoyed the
59:59
show you how to do Smith. And of course you want to
1:00:02
continue here in the Bitcoin, use in the bleep.
1:00:03
Let perspective in the catastrophic fails from the same
1:00:06
perspective. Definitely consider subscribing
1:00:08
to Simply Bitcoin. I will see you tomorrow guys for
1:00:10
a brand new episode individual incentives matter.
1:00:14
You can't separate the number. Go up technology from the
1:00:17
freedom. Go up technology.