Latest / Simply Bitcoin / Where Did America's 193,000 Bitcoin Go?! (Suppression EXPOSED) | EP 1189

Transcript

Where Did America's 193,000 Bitcoin Go?! (Suppression EXPOSED) | EP 1189 · Simply Bitcoin

• 0:00
  Have we finally found who is responsible for suppressing the
• 0:04
  price of Bitcoin? The largest nation state in the
• 0:07
  world, who's supposed to hold the most amount of Bitcoin might
• 0:11
  have lost their entire 193,000 Bitcoin stash, but how could
• 0:17
  they lose all of that Bitcoin? Has government incompetence
• 0:21
  allowed for the country's entire Bitcoin stack to be hacked?
• 0:25
  Or, as Bitcoin Inc CEO David Bailey has been speculating,
• 0:30
  maybe the US has been quietly selling their Bitcoin despite
• 0:34
  President Trump's push for a strategic Bitcoin reserve.
• 0:37
  Well, let's just jump straight into this news of how the US
• 0:40
  Marshall service can account for how much Bitcoin they hold.
• 0:45
  It's going to get wild. It's a wild story.
• 0:48
  We're looking at this stuff this morning.
• 0:50
  It's absolutely insane. And of course, I am not alone
• 0:53
  today. You can blame the tardiness on
• 0:56
  Luke Mickey tell you guys probably all know Luke, a fellow
• 0:59
  Bitcoin streamer. And then we have a special guest
• 1:01
  for you guys, Sat Wise. Sat wise Jenks, if you hang out
• 1:04
  with us on YouTube, if you're on any Bitcoin content, you
• 1:08
  probably have seen Sat wise as a moderator, long time Bitcoiner.
• 1:12
  So we got a jam packed show for you guys and hopefully it's all
• 1:15
  streaming. You know, I hope the rumble
• 1:17
  shows going OK, it looks like it's going all right, so let's
• 1:20
  get into this story guys. It's absolutely insane story.
• 1:24
  So here is the scoop coming from Coindesk and the headline is US
• 1:29
  Marshall service can't say how much crypto it holds,
• 1:32
  complicating Bitcoin reserve plan.
• 1:34
  The agency has been plagued with procedural and organizational
• 1:38
  issues for years. Now going into the story a
• 1:40
  little bit, the US Marshall Services, AKA the USMS, is
• 1:44
  tasked with managing assets seized by law enforcement in the
• 1:47
  course of no investigations like real estate, cash, jewelry,
• 1:51
  antiques or vehicles, etcetera. And it's also supposed to be
• 1:55
  handling the government's cryptocurrencies, Bitcoin and
• 1:58
  everything else that it sees. For example, the billions of
• 2:01
  dollars worth of Bitcoin seized by the FBI from Silk Road in
• 2:05
  2013 is being held by the US Marshall services.
• 2:09
  Now this is where the story starts to get kind of crazy.
• 2:13
  So I'm going to read a little bit of this, I'm going to jump
• 2:15
  around in the article a little bit, but it's it's absolutely
• 2:19
  insane. They literally just don't know
• 2:20
  where the Bitcoin is. So however, the US Marshall
• 2:23
  service doesn't seem to know how much crypto it currently has.
• 2:26
  In fact, the agency is struggling to come up with a
• 2:29
  rough estimate of even its Bitcoin holdings.
• 2:32
  And this is where, you know, the rumor mill is kind of coming.
• 2:34
  A source familiar with the matter told coin bit or coin
• 2:37
  desk. And and of course, that could be
• 2:39
  a problem considering that Trump has been talking about a
• 2:43
  strategic Bitcoin reserve. And part of some of the
• 2:46
  strategies were you just poured over all the Bitcoin that the US
• 2:50
  Marshall services holds and you put that into the street
• 2:53
  strategic Bitcoin reserve. And so moving forward, when you
• 2:56
  start talking about reserves, you need to be familiar with the
• 2:59
  unique properties of the assets like forex airdrops and the
• 3:02
  constant volatility. Now the US Marshall Service, you
• 3:06
  know, they're, they're trying to do it them themselves.
• 3:08
  And you have to have the agencies educated enough or
• 3:12
  dealing with professionals that understand how to help them
• 3:14
  achieve their goals. And now, as the article says,
• 3:17
  even if the crypto reserve never sees the light of day, managing
• 3:21
  and liquidating seized digital assets is a crucial role for the
• 3:24
  agency, especially since asset forfeiture is used to help fund
• 3:28
  the DOJ. Now, as we start going into this
• 3:31
  story, it starts to get a little crazy on what is actually
• 3:36
  happening and what they did. And as far as I'm aware, the US
• 3:40
  Marshall Service is currently managing this with individual
• 3:42
  keystrokes in an Excel spreadsheet, says the vice
• 3:46
  president of capture strategy and proposals at Adex
• 3:49
  Corporation. And, you know, they're one bad
• 3:52
  day away from a billion dollar mistake.
• 3:55
  And here I'm going to move down a little bit because, oh, is
• 3:59
  this not highlighted? Wow.
• 4:01
  OK, I need to find this one. OK, here.
• 4:04
  This is where it gets. Absolutely insane.
• 4:08
  And as a Bitcoiner, as we constantly talk about, you need
• 4:12
  to learn how to self custody your Bitcoin.
• 4:15
  This is where things start to get crazy.
• 4:17
  So let me find this exact portion here because this is
• 4:21
  where it gets nuts. And here you go. the US Marshall
• 4:24
  Service's history of crypto management The agency's troubles
• 4:27
  with crypto aren't new. Timothy Clark, CEO of crypto
• 4:29
  consultant firm ECC Solutions, told Coin Desk that a lot of
• 4:33
  frustration had built up against the US Marshall services from
• 4:36
  both the public and private sector sectors over the year.
• 4:39
  As recently as 2019, the agency quote only handed a handful of
• 4:43
  cryptocurrency assets like 8 or 10.
• 4:46
  So all the different U.S. government agencies had to do
• 4:48
  their own storage instead of the US Marshall services doing its
• 4:52
  job and in taking seizures, said Clark, a former special agent at
• 4:55
  the Department of Treasury. Now this is the the part where
• 4:59
  me and Luke were talking about this morning.
• 5:01
  It's like what actually happened here.
• 5:03
  So not only would the US Marshall services take weeks to
• 5:06
  provide Bitcoin deposit addresses to agencies when they
• 5:09
  just made a seizure, he said, but the agency would simply
• 5:12
  share them over e-mail without any sort of encryption or
• 5:15
  verification process. At other agencies like the IRS,
• 5:19
  sensitive information is usually either communicated in video
• 5:23
  calls or via read only encrypted attachments with follow up calls
• 5:26
  for passwords and read back verification of the addresses.
• 5:29
  And that's a specialist. Don't come directly on site to
• 5:32
  handle crypto wallets himself. It was very, very insecure and
• 5:37
  it's just shocking that that nothing happened in the years
• 5:39
  that they did this. And the US Marshall service
• 5:41
  declined to comment on their practices.
• 5:45
  And as you can see, I'll read this last thing and then kind of
• 5:47
  get some of the Bitcoiners take the US Marshall service did not
• 5:50
  have an adequate policies related to seize cryptocurrent
• 5:52
  storage, quantification, valuation and disposal, and in
• 5:56
  some instances, guidance. Guidance was conflicting,
• 6:00
  absolutely nuts. You know, it even says the
• 6:02
  spreadsheets on which the agency was relying to track its various
• 6:05
  crypto holdings also contain inaccuracy.
• 6:08
  It's unclear if the private key is incorrect or the wallet
• 6:11
  malfunction. And the contractor will identify
• 6:15
  the issues and potentially open the wallet.
• 6:17
  If the wallet cannot be opened, documentation of efforts taken
• 6:20
  to unlock or open the wallet will be provided by the US
• 6:23
  government. It's, it's, it's nuts.
• 6:26
  And here, last quote, at a minimum, it speaks to the lack
• 6:28
  of backup wallet and lack of competent storage update and
• 6:32
  handling procedures. So the TLDR is apparently the US
• 6:37
  Marshals services either lost the Bitcoin or you know,
• 6:42
  potentially maybe the Bitcoin was stolen because they're just
• 6:46
  basically throwing that data out there unencrypted, essentially
• 6:50
  doing the practices we tell you not to do, sending your private
• 6:53
  keys onto the Internet in a screenshot, etcetera.
• 6:56
  Like the the fundamentals of this is that they were just
• 7:00
  using the absolute worst practices to handle their
• 7:04
  Bitcoin and their various other shit coin strategy, you know,
• 7:07
  holdings. It's it's absolutely insane.
• 7:10
  And as a Bitcoiner, as a, you know, loosely libertarian small
• 7:14
  government type, we always talk about government incompetence.
• 7:17
  And it seems like the US Marshall services might have
• 7:21
  found themselves in a position where they just wrecked
• 7:24
  themselves. They either lost the keys, they
• 7:26
  didn't back it up correctly and and they're declining on, hey,
• 7:31
  you know, we're not going to decline the comment on this
• 7:33
  because we kind of don't have anything to tell you that.
• 7:37
  So as of now, we don't know if the US government actually has
• 7:40
  193,000 Bitcoin. A lot of people on Twitter
• 7:43
  saying if you look at the on chain data metrics, the Bitcoin
• 7:46
  is still there. And then if you move forward,
• 7:49
  which David Bailey has been saying for a long time, you
• 7:52
  know, they don't want to say because they've been quietly
• 7:55
  liquidating in defiance of their boss, the duly elected President
• 7:59
  Trump. And he goes so far as to say
• 8:01
  treason. So in the face of all of this,
• 8:04
  at the very least, it's government incompetence.
• 8:07
  They either lost it or it was hacked and stolen.
• 8:09
  And considering we just saw one of the biggest hacks ever and it
• 8:13
  wasn't a Bitcoin, it was an Etherium, who knows what is
• 8:16
  going on with this Bitcoin? Are they being silent because
• 8:19
  they don't have the Bitcoin? Are they trying to save face
• 8:22
  because of really bad backup practices?
• 8:24
  Who knows what's going on? Or as David Bailey keep saying,
• 8:27
  and he has been really close to the Trump administration.
• 8:30
  So I don't know if this is just the rumor mill going, whether he
• 8:33
  has insight, knowledge of this, but maybe the Biden
• 8:36
  administration had or someone within the Trump administration
• 8:39
  now that wants to kind of sabotage Trump is selling that
• 8:43
  Bitcoin. And that would explain for a lot
• 8:45
  of the price suppression. We've been all kind of wondering
• 8:47
  what's going on with the Bitcoin price.
• 8:49
  It seems with all the inflows that Bitcoin should be pumping.
• 8:52
  Well, if this 193,000 Bitcoin was liquidated, that would
• 8:56
  explain for a lot of the sideways price action.
• 9:00
  And then, you know, the senator, Bitcoin Senator Cynthia Lummis
• 9:03
  simply goes unacceptable. This is obviously unacceptable
• 9:08
  practices here. It seems like they don't know
• 9:10
  what they're doing in in holding Bitcoin.
• 9:13
  It's just it's really an insane story when you just look at what
• 9:17
  is going on and you know, going further, as Matthew Pine said,
• 9:21
  you know, talking about the the in just sending public private
• 9:25
  keys like this is not what I would call for a best practice.
• 9:29
  They're literally using the worst practices to hold that
• 9:32
  Bitcoin. And last one here we have mags
• 9:35
  go. If the US government cannot
• 9:36
  verify much Bitcoin, how much Bitcoin it owes the easiest
• 9:39
  asset class to audit. What are the odds of Fort Knox
• 9:42
  gold is all there as well? I don't know crazy story to hear
• 9:46
  this morning. So, you know, drop A1 in the
• 9:49
  chat if you think the US government lost that Bitcoin A2
• 9:53
  in the chat if you think it's stolen or a three in the chat if
• 9:56
  you think it's explaining the price suppression and they're
• 9:59
  actually liquidating that Bitcoin.
• 10:02
  So I mean, when I saw this, this or it was on Friday, I was, you
• 10:06
  know, I was over there in Miami with Nico and we saw this story
• 10:09
  and we all looked at each other and we're like, what, Like the
• 10:12
  US Marshall service seemingly lost all that Bitcoin.
• 10:15
  Like, are you kidding me? This might even be a worse
• 10:18
  example than the German government selling their
• 10:21
  Bitcoin. At least, you know, they got the
• 10:23
  proceeds if they lost that Bitcoin, if it was hacked or
• 10:26
  stolen, Man, it's, it's kind of it kind of reminds me of of what
• 10:31
  we've been saying for a long time.
• 10:32
  You know, the myth is the US government's going to ban
• 10:35
  Bitcoin. The reality is just they're so
• 10:37
  incompetent that they don't even understand how to touch Bitcoin,
• 10:40
  maintain backup Bitcoin. So I think the TLDR of this is
• 10:44
  this is a golden opportunity for us to acquire sets.
• 10:48
  And, you know, just a just further validation from the
• 10:52
  libertarian Bitcoiners that are like governments are just
• 10:55
  incompetent like they are, there's no possible way that
• 10:58
  they're going to be able to ban Bitcoin when they can not only
• 11:02
  not store it, they seem to not know how it works.
• 11:06
  You know, they can barely handle their own financial system.
• 11:09
  And all of us Bitcoiners are sitting here like, guys, just
• 11:12
  back up that Bitcoin. Don't put them at your private
• 11:15
  seed publicly in emails, not even put it in video calls.
• 11:19
  Like what even their best practices of the IRS is like,
• 11:22
  yeah, we do Zoom calls and we share the seeds phrase and the
• 11:24
  passwords. It's no, never do that.
• 11:27
  Never put your seed phrase on the Internet ever.
• 11:31
  And it looks at least as of now, and we'll see if we get any
• 11:35
  clarity on this, that the US Marshals services, the US
• 11:38
  government might not have all of that Bitcoin.
• 11:41
  So this is obviously going to do or put some, some roadblocks
• 11:44
  into. However, the strategic Bitcoin
• 11:46
  reserve strategy is going to go forward.
• 11:48
  But hey, if they can't just port over the Bitcoin that they
• 11:51
  confiscated, they're going to have to buy Bitcoin on the
• 11:53
  market like everyone else. And hey, I'm all for them
• 11:56
  pumping our bags. So crazy story, guys.
• 11:59
  I, I don't know what to say. I'm almost like flabbergasted
• 12:02
  that this is the case right now, but it might surprise not at
• 12:05
  all. I, I say it all the time, you
• 12:07
  know, governments are completely incompetent.
• 12:09
  And I think this is just a further example of this so crazy
• 12:12
  story this morning, but I'm going to pass it over to Luke.
• 12:14
  Hopefully you heard all that. I know your internet's acting
• 12:17
  up. What's your thoughts as a fellow
• 12:18
  content creator? I know when I was telling you
• 12:20
  this, well, actually, you know, Side Story, when I was telling
• 12:22
  you this morning, this story, you're like, wait, what
• 12:25
  happened? Like just kind of break this
• 12:27
  down for me. What happened?
• 12:29
  So Luke, what's your thoughts when you hear this stuff
• 12:31
  happening? So I mean, firstly, the wild
• 12:34
  story, OK, at the very, the very minimum, there's some severe
• 12:39
  incompetence in regards to how the US government, the largest
• 12:43
  nation state in the world, is handling their Bitcoin.
• 12:47
  Again, we don't have confirmation yet of what has
• 12:49
  happened and whether the what 193,000 coins America is
• 12:54
  supposed to own. We don't know whether those are
• 12:57
  a fleder. We don't know whether they've
• 12:58
  been sold or whether they've gone.
• 13:01
  We don't know yet. But at the very minimum, we do
• 13:04
  know that they are not practicing basic Bitcoin
• 13:09
  security. They're not handling their
• 13:11
  private keys the way they should.
• 13:13
  So again, we don't have confirmation yet.
• 13:15
  I love the three options that you laid out there, Opti and I
• 13:18
  think 808 bear in the chat, he mentioned a really interesting
• 13:23
  comment. He said, I like a conspiracy.
• 13:26
  I like option #3 and I think option #3 is interesting because
• 13:31
  a lot of people have been speculating and saying, hey,
• 13:34
  look, why is the price not pumping?
• 13:36
  Samsung Mail and Checkmate had a really interesting back and
• 13:40
  forth on Twitter that I covered on my YouTube channel recently.
• 13:43
  And Checkmate is saying, look, on chain data suggests that long
• 13:47
  term holders are selling their Bitcoin.
• 13:49
  This is completely normal for Bitcoin to be chopping around
• 13:51
  sideways like it is between 90K and 110K.
• 13:55
  And Samson's saying, look, price action's really weird.
• 13:58
  Price action's a little bit interesting.
• 14:02
  Why are we not pumping right now?
• 14:03
  We've got all of these bullish news and all of these banks
• 14:06
  coming in. Samson's asking the question, is
• 14:08
  this price suppression? If it is price suppression and
• 14:12
  if America's Bitcoin has been hacked, again, big caveat.
• 14:17
  If it has been hacked and if it has been stolen, maybe 193,000
• 14:24
  Bitcoin, 1% of the total Bitcoin supply being quietly sold by
• 14:29
  hackers or even by sabotages inside the US government, inside
• 14:35
  the Biden administration, or should I say former Biden
• 14:39
  administration, Maybe all of that cell pressure is an
• 14:43
  explanation for why we aren't aggressively pumping like a lot
• 14:46
  of people thought we might right now.
• 14:48
  Again, there's a lot of tables, there's a lot of theories on the
• 14:51
  table. Sorry, I don't know which is
• 14:53
  true, but I do think it's a very interesting story that you shot
• 14:56
  across my desk this morning, Opti.
• 14:59
  Yeah, as Jose saying in the chat, they literally fumble the
• 15:03
  sad. So you, it's, this is the best
• 15:06
  timeline ever possible. Obviously for us Bitcoiners at
• 15:10
  this point, everyone's been wondering what's going on.
• 15:12
  Hey, if we get 100K Bitcoin, you know, 100K per Bitcoin for the
• 15:17
  foreseeable future, once it starts pumping, hey, it's going
• 15:20
  to RIP and everyone is going to have to follow suit.
• 15:22
  So maybe we can be thankful to the US government for fumbling
• 15:26
  those sats. It's absolutely insane.
• 15:28
  All right, so I'm going to pass it over to the SAT Wise jinx
• 15:31
  because I was telling you guys, if you hang out in the YouTube
• 15:33
  chat, you hang out with SAT Wise every single day.
• 15:35
  If you're watching any Bitcoin content, I'm sure Sat wise is in
• 15:38
  there. So Sat Wise, what's your
• 15:41
  thoughts when you hear that the US Marshals service potentially
• 15:44
  fumble their Bitcoin bags and they have they don't know what
• 15:48
  where it is. They don't know if they can
• 15:49
  access it. They don't know if it's stolen
• 15:51
  or at least are trying to save face and aren't going to comment
• 15:54
  on that. So what's your favorite option
• 15:56
  on what happened? And then what?
• 15:58
  What do you think is going on? Well, I think it's #3 it's, it's
• 16:02
  price suppression and it doesn't surprise me at all.
• 16:06
  In my 30 year career as an IT architect, actually worked for
• 16:09
  the US Postal Service for six years.
• 16:12
  And that opened my eyes to what government tech is really like.
• 16:16
  After that six years, I felt like I needed a lobotomy.
• 16:19
  I had to move on. So it's gross incompetence and
• 16:24
  that allowed it to be sold. And price suppression would be
• 16:29
  my guess. Yeah, it's it's pretty crazy
• 16:33
  when you think about it. And, you know, in the face of
• 16:36
  everything we're seeing, yes, as, as everyone's kind of joking
• 16:40
  in the chat, the the third option is the more juicy
• 16:43
  conspiratorial option here. But we know that the Biden
• 16:47
  administration has actively been fighting Bitcoin and this might
• 16:51
  just be the last final grasp of them trying to do whatever they
• 16:55
  can so that the Trump strategic Bitcoin Reserve doesn't happen.
• 17:00
  So that, you know, the US isn't capable of actually embracing
• 17:04
  Bitcoin. But it's just it's a crazy news
• 17:07
  story. It's absolutely nuts.
• 17:08
  And I actually before I move on, I was going to move on.
• 17:11
  I think my now is a is a good moment for you guys in the chat.
• 17:14
  If you're newer to Bitcoin, maybe you're wondering well,
• 17:16
  like, what is the best practices here?
• 17:18
  How should I be storing my Bitcoin?
• 17:20
  Well, number one, as you can see from the article clearly, do not
• 17:24
  send your seed phrases over the Internet in emails.
• 17:28
  Do not screenshot your seed phrases on your phone.
• 17:31
  Do not say your seed phrase out loud on a zoom call.
• 17:36
  This should all be very simple elementary thinking.
• 17:40
  You want to write it down on a piece of paper.
• 17:42
  You want to stamp your seed on something like titanium.
• 17:45
  This is the first thing you want to do.
• 17:47
  And then also when you get your seed phrase, before you send
• 17:50
  Bitcoin to it, you should probably send maybe a little
• 17:53
  bit, do a test transaction, send a little Bitcoin to it.
• 17:56
  Or if you want to do it the other way, you know, get your
• 17:59
  seed phrase, make create a wallet and then clear that
• 18:02
  wallet and get back into your your Bitcoin wallet with the
• 18:06
  seed phrase. And then, you know, you backed
• 18:07
  up your seed phrase correctly. You know me, I'm a little I've
• 18:10
  been doing it so long that I'll do a test transact.
• 18:12
  You know, I create a wallet, I'll send about a couple
• 18:14
  dollars, maybe, you know, a dollar, so a couple thousand
• 18:17
  sets. Then I'll delete my wallet.
• 18:19
  I'll re enter my seed phrase, I'll re enter my password.
• 18:22
  And if the bitcoin's there, then you know you backed it up
• 18:25
  correctly. So first of all, you know, don't
• 18:27
  send all of your Bitcoin in one transaction to a new wallet.
• 18:31
  Best practices is to test that wallet.
• 18:34
  And then once you have your seed phrase backed up, you know, do
• 18:37
  whatever you can to protect that.
• 18:38
  That's the that's the simple basics for most people.
• 18:41
  One, never put your seed phrase on the Internet.
• 18:44
  And two, make sure you have backed up your wallet before you
• 18:47
  are sending a lot of Bitcoin to it.
• 18:48
  Now seems like the, you know, US Marshall services don't even
• 18:52
  have those best practices going. So you're ahead of the game.
• 18:55
  You're further than the government.
• 18:56
  Absolutely nuts. OK, all right, man, what a crazy
• 18:59
  story. Now we have some, of course,
• 19:01
  some more interesting stuff going on.
• 19:03
  On today's show, we got a clip of Michael Saylor.
• 19:06
  He went on, you know, national television talking about that
• 19:09
  the 100K Bitcoin price is a 90% discount of what he thinks the
• 19:12
  Bitcoin price is going to do. He actually had a very
• 19:15
  interesting meeting on Friday. And then in the news, a story
• 19:19
  and a trend and the theme we've been talking about on the show
• 19:22
  is that bitcoiners seemingly are infiltrating the Trump
• 19:26
  administration. And we have an update on another
• 19:29
  Bitcoiner or seemingly bitcoiner getting added to the Trump
• 19:33
  administration. And of course, to wrap it up in
• 19:35
  the culture we have sat wise and he's going to just be talking
• 19:38
  about orange peeling as a lifestyle.
• 19:40
  We're going to talk his Bitcoin rabbit hole stories.
• 19:42
  So we got a great show for you guys.
• 19:44
  And before we do that, let's go to abitcoinwell.com.
• 19:50
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• 19:53
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  you buy it on Bitcoin. Well, you need to have a Bitcoin
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  buy Bitcoin, it goes directly to you.
• 20:14
  There's no chance of them holding on to your Bitcoin.
• 20:16
  And this is I pretty sure as of now the only Bitcoin exchange to
• 20:21
  do that. I think more companies should
• 20:23
  follow suit because as we've seen some of the biggest
• 20:26
  examples in this space, whether it's the buy bit hack of last
• 20:30
  week or Mount Gox or FTX, the worst thing you can do besides
• 20:35
  putting your seat phrase on the Internet is leaving your Bitcoin
• 20:38
  on an exchange. Now, if you are a Bitcoiner on
• 20:42
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• 21:01
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  that Bitcoin, back up those keys and we think the boys over at
• 21:07
  Bitcoin Well are killing it. Now I realize we haven't done a,
• 21:11
  you know, wishing well in a minute.
• 21:13
  So we have we have sats here. So get your lightning wallet up
• 21:17
  first come first serve and scan the QR code and you will win
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  some sats before we move on. Love the wishing well.
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• 21:27
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• 21:31
  All right, on that note, boys and girls, let's get into the
• 21:34
  rest of the show. I want to tell you guys about
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• 23:10
  All right, guys, scan the QR code.
• 23:12
  Make sure you are securing your seed phrase.
• 23:15
  I seem seemingly the theme of today's show.
• 23:17
  Make sure you are backing up your seed phrase.
• 23:19
  Make sure it's not just on a piece of paper.
• 23:21
  Make sure at the very least, guys, you do not screenshot your
• 23:25
  seed phrase or take a picture of it and get it on the Internet.
• 23:27
  You want it in something indestructible so that if for
• 23:31
  whatever reason some natural disasters happen, your seed
• 23:35
  phrase on a piece of paper doesn't go up in flames or get
• 23:37
  water damage, etcetera. What a what a crazy, crazy
• 23:42
  government incompetence. I'm going to keep moving because
• 23:44
  I'm sure we can talk about this all day all right, I'm over here
• 23:46
  on Clark movies dashboard looking at the Bitcoin numbers.
• 23:49
  The current Bitcoin price is 94,720.
• 23:53
  Is this why the price has been? This is why the price is dumping
• 23:56
  because the world is realizing the DOJ is dollar.
• 23:58
  Sorry, Marshall service is dumping on us.
• 24:01
  All right, the SAT per dollar, AKA how much Bitcoin you can buy
• 24:03
  for a single dollar, AKA how much the dollar is worth in
• 24:05
  Bitcoin is currently at 1056 SAT per dollar.
• 24:09
  The block height take chalk next block 885,139 Bitcoin is
• 24:14
  running, it's working as designed now the market cap we
• 24:17
  are still we're kind of under the 2K or $2 trillion market
• 24:20
  cap. We're at $1.88 trillion market
• 24:22
  cap in Fiat terms. The Bitcoin versus gold market
• 24:25
  cap is again down. It's at 9.08%.
• 24:28
  We've been going sideways chop solid dating for what three
• 24:31
  months? It's over guys, pack it up.
• 24:33
  It's going to 0. No, I'm, I'm joking.
• 24:35
  It's, it's going to a million soon and we're we're going to
• 24:38
  talk about that. And the total Bitcoin that will
• 24:40
  ever be issued is currently at 94.42%, roughly 19.8 million
• 24:45
  coins in circulation. So again, there's only ever
• 24:48
  going to be 21 million and it's not even going to be 21 million.
• 24:50
  It's, you know, 20.9999 million Bitcoin in circulation that will
• 24:55
  ever be created. And that's not even accounting
• 24:57
  for the lost Bitcoin and the realized monetary inflation.
• 25:00
  Taking Fiat currencies to school, it's currently at .97%.
• 25:04
  Slowly but surely it is going to 0.
• 25:08
  All right guys, so I saw this clip of Saylor.
• 25:10
  He's on market domination. I forget what I think.
• 25:13
  I forget what this is on. Oh, it's Yahoo finance.
• 25:15
  OK, Saylor went on Yahoo finance.
• 25:18
  He's talking about the fact he's had this conversation with Dave
• 25:21
  Portnoy. If you guys been following on
• 25:22
  the Internet, Portnoy is just the perfect example of what not
• 25:26
  to do with your Bitcoin. He's going to the shit coin
• 25:29
  scamming land. He's wrecking himself.
• 25:31
  It's very simple. Again, another theme, the the
• 25:33
  constant theme of this show is literally just buy Bitcoin,
• 25:36
  store that Bitcoin, create more value and repeat the process.
• 25:41
  This is why we always say we will buy Bitcoin forever because
• 25:45
  there's nothing else to save in. And Sailor goes on the
• 25:48
  television and says exactly this, but in a way that I think
• 25:52
  is going to start causing the FOMO in a lot of people.
• 25:55
  So let's watch this clip. You know, now that we've gotten
• 25:58
  there, now what what, what's next?
• 26:02
  Every day for the past four years I've said buy Bitcoin.
• 26:06
  Don't sell the Bitcoin. I'm going to be buying more
• 26:10
  Bitcoin. I'm going to be buying Bitcoin
• 26:12
  at the top forever. I joked with Dave Portnoy today.
• 26:16
  He said I missed it at 10,000. I missed it at 20,000.
• 26:19
  I miss it 100,000. I said, Dave, it's still less
• 26:22
  than a million a coin. You're getting a 90% discount
• 26:25
  from a million a coin. I'm sure that I will be buying
• 26:29
  Bitcoin at a million a coin, probably a billion dollars a day
• 26:32
  of Bitcoin at a million a coin. And so I think it's a very
• 26:35
  simple idea. Just keep buying Bitcoin with
• 26:38
  your spare capital. It's such a simple, simple story
• 26:46
  here. Just keep buying Bitcoin with
• 26:48
  your excess profits until forever, as my friends always
• 26:52
  say. We always say we buy local tops
• 26:55
  as generational time stamps of when I bought Bitcoin because we
• 26:58
  all know it's going up forever, Laura.
• 27:00
  But I really like that that meme you said at 100K, Bitcoin is at
• 27:04
  a 90% discount. But before I pass it off to
• 27:07
  everyone else, there is an interesting update over the
• 27:10
  weekend. On Friday, apparently Saylor met
• 27:14
  with the SEC and I'm only guessing that he's talking
• 27:18
  about, you know, digital asset frame.
• 27:21
  How is the SEC looking at at Bitcoin and the digital asset
• 27:24
  landscape? I hate using a digital asset
• 27:26
  landscape. But of course, if sailors
• 27:29
  meeting with the SEC, at the very least it's different from
• 27:32
  what we saw from Gary Gensler. At least they're reaching out
• 27:35
  to, you know, quote UN quote Bitcoin experts.
• 27:37
  They're getting our insights. They're thinking about how is it
• 27:40
  the best way to excuse me, to regulate Bitcoin.
• 27:43
  So we can only guess and venture to speculate what they talked
• 27:48
  about. But we have Eleanor Tariff here
• 27:50
  and she's a Fox business journalist.
• 27:52
  She's actually been doing really good work in regards to the
• 27:54
  Bitcoin crypto space the last couple of months and years.
• 27:57
  And so she says looks like they spoke about the token taxonomy
• 28:02
  and defining specific types of digital assets amongst other
• 28:06
  things as per the SEC website. As you can see, digital assets,
• 28:09
  frameworks, principles and opportunity for the United
• 28:13
  States. So as a lot of bit corners and
• 28:16
  really more shit corners have been saying, all we really need
• 28:19
  is what do they say regular or regulatory clarity here?
• 28:23
  And it seems like sailors meeting with the SEC.
• 28:26
  So hopefully we start to see by a couple months from now, we
• 28:30
  start to to get some good regulation around Bitcoin.
• 28:33
  I'm cautiously optimistic about the how this is going to play
• 28:35
  out, but man, I, I really, I really kind of want to go back
• 28:39
  to at 100K, you're buying Bitcoin at a 90% discount.
• 28:45
  And now I know we always say on the show, Bitcoin isn't a get
• 28:48
  rich quick scheme. It's a don't get poor slowly
• 28:51
  scheme. But the longer I'm in, the more
• 28:54
  and, and hold your tomatoes, the, the more I'm kind of okay
• 28:58
  with just like showing people that, hey, you're broke right
• 29:01
  now. You're getting poorer because
• 29:02
  you're saving in Fiat currencies.
• 29:04
  Now. I'm sure you want to live a
• 29:06
  better life. I'm sure you want to be wealthy
• 29:08
  in the future. You got to just stack stats,
• 29:10
  hold those stats forever and your life is going to be better.
• 29:14
  So this, this reframing that Sailor's saying at 100K, it's
• 29:17
  going to a million. You're buying Bitcoin at a 90%
• 29:20
  discount. I'm going to buy it forever.
• 29:22
  You know, I'm going to buy a billion dollars out of at
• 29:24
  $1,000,000 per Bitcoin. What's that?
• 29:28
  You know, his stacks are only going to increased by like, you
• 29:31
  know, 100 Bitcoin at a time. It's just crazy.
• 29:34
  And also I didn't bring it up on today's show and I'm just
• 29:36
  reminded of it. Sailor is only a couple.
• 29:38
  I think it's like, you know, a couple thousands of Bitcoin away
• 29:42
  from getting to 500,000 Bitcoin. It's insane how much Bitcoin
• 29:48
  he's buying at this point. I think all of us Bitcoiners are
• 29:50
  like, hey Sailor, could you know, could you leave some
• 29:52
  Bitcoin for the rest of us or can someone else come and buy
• 29:55
  Bitcoin 'cause we can't just let Sailor buy all of the Bitcoin?
• 29:58
  What is going on here? It's crazy.
• 30:00
  Anyways, I will pass it over to SAT Wise.
• 30:02
  SAT Wise, what's your thoughts on this clip?
• 30:04
  And you know, maybe let's speculate.
• 30:06
  Is it a good thing that Sailor is talking with the SEC about
• 30:10
  regulatory clarity? I think so.
• 30:13
  I, I think Sailor is one of my heroes as an IT guy.
• 30:16
  I mean, he, he was to me, he's the godfather of AI because
• 30:21
  business intelligence was, that was him.
• 30:24
  That was like, you know, MicroStrategy was the Kleenex of
• 30:27
  business intelligence until it became commoditized and he had
• 30:30
  to look for a strategy to stop the melting ice cube in his
• 30:35
  treasury. So everything Sailor does is a
• 30:39
  benefit for us. I know there's some detractors
• 30:41
  for seller, but look at the Fasby accounting rules.
• 30:44
  He tackled that single handedly and anything he does with the
• 30:48
  SEC, it has to be positive at this point.
• 30:51
  I personally hope that they allow in kind transfers for
• 30:54
  retail into the ETF because I think that would allow people to
• 30:58
  transfer Bitcoin into an ETF, borrow against prime rates just
• 31:02
  like the rich people do with other assets.
• 31:04
  Hopefully that's one of the things he's discussing.
• 31:07
  Yeah, totally. And and we do know, I know Luke
• 31:10
  and I have covered this a few times on the show that the ETF
• 31:13
  in kind redemptions are being proposed right now.
• 31:16
  So hopefully we see that that come down the line because that
• 31:20
  that would totally be a game changer in the Bitcoin ETF
• 31:23
  space. It would definitely stop this
• 31:25
  whole, you know, speculation of hey, is Bitcoin ETF just paper
• 31:29
  Bitcoin considering hey, what's going on?
• 31:30
  Why isn't the price pumping when they are scooping up like years
• 31:35
  worth of Bitcoin supply? So crazy stuff.
• 31:38
  It's it's a crazy. Anyways, Luke, what's your
• 31:41
  thoughts on here in the Sailor clip?
• 31:43
  What's your thoughts on Sailor meeting with the SEC about
• 31:46
  Bitcoin? I think you mentioned a really
• 31:52
  interesting quote there of the you said something along the
• 31:56
  lines of we are buying the local tops as generational timestamps
• 32:01
  of just how early we were. I don't remember the exact
• 32:04
  quote, but it was something along that road.
• 32:06
  And I think that's a really important framing.
• 32:09
  I think a lot of people are looking at 100K.
• 32:11
  They're saying, oh, it's a local top.
• 32:12
  But I think a lot of people really aren't zooming out and
• 32:15
  they're looking at Bitcoin with the same perspective that
• 32:18
  Michael Saylor is looking at Bitcoin with, OK.
• 32:22
  I think even him saying buying Bitcoin today at $100,000 is
• 32:26
  like a 90% discount because it's fair price is at least a
• 32:29
  million. I think that is still incredibly
• 32:32
  bearish and that is still incredibly conservative.
• 32:35
  I think even if you look at Michael Saylor's 21 year models
• 32:39
  for Bitcoin and his 21 year forecast that he has for
• 32:42
  Bitcoin, he's built all of these models with very conservative
• 32:45
  estimates and he's painted a picture for why Bitcoin could be
• 32:49
  worth $13 million a coin in 21 years.
• 32:52
  And again, I think that is wildly conservative.
• 32:55
  So I think a lot of people looking at Bitcoin being priced
• 32:58
  at $100,000 today and saying, hey, I'm late, I'm not going to
• 33:02
  buy any of these crazy digital Internet money because it's
• 33:05
  going from zero to $100,000. I really do think that that unit
• 33:09
  price has really scared a lot of new people away from Bitcoin.
• 33:14
  And I think, I think a lot of people really haven't thought
• 33:17
  about just how early we are because again, 1% of the world
• 33:21
  has actually bought some Bitcoin and stored it in their own
• 33:24
  address. Yes, I get it.
• 33:26
  There's like 680 million people who have bought some sort of
• 33:30
  crypto on an exchange showing that maybe we're at like 7 to 8%
• 33:34
  adoption if you're looking at adoption that way.
• 33:37
  But the way I prefer to look at adoption is less than 80 million
• 33:41
  people have actually bought Bitcoin and stored it themselves
• 33:44
  in an on chain address. So that means we're at less than
• 33:47
  1% adoption. And if the price of Bitcoin has
• 33:51
  gone from zero in 2009 to $100,000 a coin today, and we're
• 33:57
  only at 1% adoption, and during these first 16 years of
• 34:03
  Bitcoin's life, 99% of the supply of Bitcoin has been
• 34:08
  mined. You guys do the maths.
• 34:12
  If 1% of the world's bought Bitcoin, 99% of the supply that
• 34:16
  will ever be available to buy has been mined, what's going to
• 34:21
  happen when the other 99% of the world FOMO into Bitcoin and
• 34:27
  there's 1% of the entire Bitcoin supply, the 21 million coins
• 34:33
  that's going to be mined over the next 100 years, $100,000 per
• 34:37
  coin is ridiculously early, and I don't even think it's in the
• 34:42
  order of magnitude of Fair value and the way we should be really
• 34:46
  thinking about Bitcoin if we want to get really crazy.
• 34:49
  I could walk you through some math for why I think $100
• 34:52
  million per coin in today's purchasing power is just the
• 34:56
  beginning for Bitcoin. And I actually think things get
• 34:58
  really wild and people like Peter Dunworth are probably a
• 35:01
  lot more accurate and directionally correct for the
• 35:05
  fair purchasing power of a Bitcoin when we're talking about
• 35:09
  a Bitcoin price literally in the billions.
• 35:11
  OK, I don't want to get too crazy.
• 35:13
  I don't want to get the tomato thrown at us, as you said
• 35:15
  earlier. But I really do think like
• 35:18
  $1,000,000 a coin is wildly bearish.
• 35:21
  It's wildly conservative. And this race hasn't even
• 35:24
  started with Bitcoin at, you know, 50.
• 35:27
  Wow, living up to the Monday hopium.
• 35:29
  Luke really, really love it. You know, getting getting
• 35:32
  everyone hopped up on the hopium today.
• 35:35
  OK, love it. But I mean, I, I'd kind of would
• 35:37
  say the same thing. You know, I say it all the time.
• 35:39
  I'm bullet hearted as they come. And not only do I love the the
• 35:43
  incredibly bullish price predictions, but I don't think
• 35:47
  that they're not going to happen like at a certain point in time,
• 35:51
  who knows at what time or as the saying goes, you know, you can
• 35:54
  predict predict the price of Bitcoin, but you can't predict
• 35:57
  when. And I think that's kind of what
• 35:59
  we're talking about here. It's going up.
• 36:01
  We know it's going up, 21 million hard cap.
• 36:04
  All of the world's capital is going eventually or most of the
• 36:08
  world's capital is eventually going to be touched by Bitcoin.
• 36:11
  And at a $2 trillion market cap, it's only going to go up.
• 36:15
  So, you know, 100X from here is definitely in our lifetimes, if
• 36:19
  not more, considering if there is something crazy going in the
• 36:23
  world, something blows up. And I don't, I don't want to
• 36:25
  just, you know, sell Bitcoin in a way that it's all doom and
• 36:28
  gloom. It's just like look at the
• 36:30
  system as it is. If you don't see value in
• 36:32
  something that is digitally limited, full digital scarcity,
• 36:36
  then you know, you got to do a little research and hopefully we
• 36:40
  can get guide you along that path.
• 36:42
  But anyways, let's get into the next story because it looks like
• 36:46
  Bitcoiners are infiltrating the US government more and more
• 36:51
  every single day and you just love to see it.
• 36:53
  So let's get into it. I want to give a shout out to
• 36:57
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  All right, guys, make sure you get yourself a beautiful
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  passport. Don't listen to what the pod
• 39:16
  comp influencers are saying. This is 45 IQ friendly like
• 39:20
  myself. I can use it.
• 39:22
  So don't listen to them on Twitter saying that I need to
• 39:25
  learn how to use a passport. It's it's easy enough for me to
• 39:28
  use it when you cut connect it with the envoy app.
• 39:31
  No, I'm I'm just kind of trolling.
• 39:32
  They were they were trolling me this morning.
• 39:34
  So shouts out to the the whole team over there.
• 39:37
  All right, guys, let's get into this story.
• 39:39
  OK, so we've been covering this on the show for I guess since
• 39:43
  Nova actually like June or yeah, June of last year, ever since
• 39:47
  Trump kind of came out and said pro Bitcoin stuff at Nashville,
• 39:51
  You know, 1 camp is like he's just giving red meat for a new
• 39:54
  base. He doesn't actually care about
• 39:56
  Bitcoin. We've seen more examples of him
• 40:00
  coming out and doubling down on his Bitcoin stance, saying he
• 40:03
  wants to make the USA crypto. Capital of the world, of course,
• 40:07
  pushing a strategic Bitcoin reserve.
• 40:09
  And now his cabinet members are being filled up with Bitcoin.
• 40:13
  Obviously, the most famous is RFK Junior.
• 40:16
  He did an excellent speech at the national conference as well.
• 40:20
  Well, you know, we got an interesting development here as
• 40:23
  well. So if you didn't see, you know,
• 40:27
  Trump, Trump's kind of doing the what's what was his TV show.
• 40:32
  I'm blanking on his TV show. You know where we fired the
• 40:36
  you're fired. Me, I'm, I'm, I'm blanking on
• 40:38
  what the name was right now. But everyone knows he's the
• 40:40
  reality TV president because he was just firing fever.
• 40:44
  So here we have this true social post and again, before you guys
• 40:48
  are like, what's this have to do with Bitcoin?
• 40:50
  I'm going to lay it out for you guys.
• 40:52
  So just give me one second. So here's the Trump post.
• 40:54
  Great news for law enforcement and American justice.
• 40:57
  Dan Bongino, a man of incredible love and passion for our
• 41:01
  country, has just been named the next deputy director of the FBI
• 41:05
  by the man who will be the best ever director, Kash Patel.
• 41:10
  Now, you know, going forward a little bit, he was a member of
• 41:12
  the NYPDA, highly respected special agent with the Secret
• 41:16
  Service and also one of the most successful podcasters in the
• 41:21
  world. If you're on Rumble, he's got a
• 41:23
  huge channel. It's 3.5 million followers on
• 41:26
  Rumble. So he's one of these independent
• 41:29
  content creators. He's obviously coming from the
• 41:32
  right, but I do want to read his about page here a little bit
• 41:35
  because I, I think it's kind of interesting right here at the
• 41:38
  very end, he goes, Dan Bongino tackles the hot political
• 41:41
  issues, debunking both liberal and Republican established mint
• 41:45
  rhetoric, and now he's deputy director of the FBI.
• 41:49
  So man, it seems to be a very crazy, crazy timeline.
• 41:53
  Now again, you're like, cool, you know, Trump announced a new
• 41:57
  deputy director of the FBI. What does this have to do with
• 42:00
  Bitcoin? Well, there's a post here by Dan
• 42:02
  Bongino on Twitter. This was November 1st, 2024.
• 42:06
  And he goes X truth Rumble Bitcoin with the Braveheart
• 42:11
  freedom meme. So it looks like the new deputy
• 42:14
  director of the FBI API is also a Bitcoiner.
• 42:17
  It seems like bitcoiners are infiltrating the Trump
• 42:20
  administration. It seems like he is, you know,
• 42:22
  whether directly or indirectly delivering on his promises of
• 42:27
  making the US so that I wouldn't I'm going to say the Bitcoin
• 42:30
  capital of the world because we're not going to let you go
• 42:32
  for that shit coin you created Trump.
• 42:33
  But hey, we knew some crazy stuff was going to happen.
• 42:36
  But if we get some favorable regulation around Bitcoin,
• 42:40
  obviously strategic Bitcoin reserve in whatever fashion.
• 42:43
  And hey, as the rumors are saying, you know, maybe
• 42:46
  eliminating cap gains on Bitcoin, maybe eliminating the
• 42:49
  Irsi don't know about you, but this would sound like the
• 42:53
  greatest president since George Washington as far as I'm
• 42:56
  concerned, even with all his faults as a Bitcoiner.
• 42:59
  That would be incredible. And just to wrap this segment up
• 43:02
  before I pass it over, you know, you guys been yelling me about
• 43:04
  the memes, but hey, I got I got I got some, I got some meat here
• 43:07
  for you guys. Here's Pierre Ochard.
• 43:09
  He goes myth government will ban Bitcoin reality Bitcoin
• 43:13
  podcasters will take over government and I guess we have
• 43:17
  another example of this. So, you know, as much as pod
• 43:20
  comped is giving us crap and you know, personally attacking me
• 43:23
  about my passport usage or rather not being able to use
• 43:27
  passport, they might be right about Bitcoin podcasters taking
• 43:31
  over the world. And it's seemingly we are on the
• 43:34
  beat of bit corners taking over the world.
• 43:36
  We're taking over the US government.
• 43:38
  Now I know a lot of you guys in the chat are like, oh, Bitcoin
• 43:42
  doesn't need politicians like all of us are.
• 43:46
  I came to Bitcoin apolitical. I didn't care about Bitcoin.
• 43:50
  Obviously. I grew up in the 2008 financial
• 43:53
  crisis. I always felt like I was getting
• 43:55
  rug pulled by politicians. And as much as I have an
• 43:58
  inherent distrust in politics and politicians, as we're
• 44:02
  seeing, there seems to be a lot of payoff for like the work that
• 44:06
  David Bailey did on, you know, raising money for that pack.
• 44:11
  I forget. I think it was the Bitcoin pack
• 44:12
  or maybe it was the crypto pack. And we also saw the problems
• 44:15
  with it, considering that Ripple and XRP are donating a bunch of
• 44:18
  money to try to, you know, persuade the Trump
• 44:22
  administration to not do a Bitcoin strategic reserve.
• 44:25
  So as the Plato quote goes, hey, if you don't want to get
• 44:28
  involved in politics, you will be ruled by your inferiors.
• 44:33
  And it's everyone of our duty to seemingly get involved in some
• 44:37
  way. And actually, Sat Wise has a
• 44:38
  pretty good story. I don't know if we want to drop
• 44:40
  now or maybe keep it for the culture, but actually, yeah,
• 44:43
  let's keep it for the culture. So let's just chat about this.
• 44:47
  You know, I know 2017, I could have never thought we'd have so
• 44:52
  many bit corners in positions of power.
• 44:55
  And now, you know, whether they're just getting Bitcoin
• 44:58
  exposure by ETFs, whether they're holding Bitcoin directly
• 45:01
  or they go all in like RFK Junior.
• 45:04
  We have a lot of bit corners in position of power.
• 45:07
  And I think this is only going to expand.
• 45:09
  I think anyone that is actively kind of freedom focus will
• 45:14
  realize that Bitcoin is part of the tools in our toolbox to
• 45:19
  ensure that we do live in a more free society moving forward.
• 45:22
  So I found this story very interesting.
• 45:24
  Not only is he a podcaster, you know, so hey, Luke, maybe
• 45:27
  actually you're not an American, so maybe you have a chance of
• 45:30
  ruling in Australia 1 day. You guys are you guys have some
• 45:33
  problems over there. So maybe, you know, they need
• 45:35
  you over there. But it does seem like Bitcoiners
• 45:37
  are inheriting the earth and hey, it's a bridal future.
• 45:41
  And I really do think that whether it's Bitcoiners just
• 45:44
  being loud and vocal on Twitter or reaching out to their local
• 45:48
  politicians or doing more grand, grand scale political action
• 45:53
  like Bitcoin Magazine has been doing to get Bitcoin in the
• 45:56
  halls of power. All of these little efforts I
• 45:59
  think are are kind of shifting us towards a better future,
• 46:03
  combating this whole idea of needing a digital dystopia
• 46:06
  backed by CBDC. So I'm feeling cautiously
• 46:09
  optimistic now about what's going to happen out of the Trump
• 46:12
  administration. It seems like we might be
• 46:14
  getting some bullish stuff happening over there.
• 46:16
  So another big corner in one of the highest positions of power.
• 46:21
  And it's hard to be, it's hard to be bearish on what's going
• 46:24
  on. And, and this isn't me being
• 46:25
  like, oh, you know, I'm, I'm fully on board with Trump.
• 46:28
  You guys have heard my hesitations about it.
• 46:31
  And you guys know my basic stance.
• 46:33
  It's left, right, 2 wings of the same bird.
• 46:36
  But I don't know, it does seem like there is an active movement
• 46:40
  right now that is backed by freedom, principled people.
• 46:44
  And man, maybe it's just me being duped and me being me
• 46:47
  being hopeful about what's to come or my bias showing and
• 46:50
  seeing all this stuff play out. But it does seem like the next
• 46:53
  four years, at least in regards to Bitcoin, it might be an
• 46:56
  incredible, incredible time. So hopefully something's
• 46:59
  happened that will essentially be cemented in U.S. law and
• 47:04
  Bitcoin or US does become the Bitcoin capital of the world.
• 47:07
  So we can only kind of wait. Obviously, we're not here to
• 47:11
  pretend like we're going to get saved by politicians or they're
• 47:14
  our saviors or anything, but protect yourself by taking
• 47:17
  Bitcoin into custody. And it just seems like bit
• 47:20
  corners are infiltrating. So I'm gonna pass it to SAT wise
• 47:23
  because I know you and I have gone back and forth in the chat
• 47:25
  before about this. And I think you might also be
• 47:29
  kind of the voice of the chat right now.
• 47:31
  So what's your thoughts on the new deputy director of the FBI,
• 47:35
  Don Bongino, a bitcoiner being elected?
• 47:38
  Is this a good thing? Are we seeing a a fundamental
• 47:42
  shift in politics now where they are embracing bit corners?
• 47:45
  Or rather, they are bit corners. Yeah, I definitely think we're
• 47:49
  seeing a fundamental shift. And it's about time.
• 47:53
  It's it's been 16 years and the government has fought us so hard
• 47:58
  tooth and nail. And you know, I'm not a fan of
• 48:04
  the orange man. Everyone in the chat probably
• 48:06
  knows that. But you know, the the enemy of
• 48:09
  your enemy is your friend. And the Signal since he's been
• 48:14
  elected is is insane. I can't imagine if Kamala won,
• 48:18
  it would have put us back so long.
• 48:20
  And everyone says, oh, government doesn't matter when
• 48:23
  it comes to the it'll. It'll still happen.
• 48:25
  Yeah, of course it'll still happen.
• 48:26
  But some of us, like me, are almost 60 years old and not, you
• 48:29
  know, we don't have time to wait.
• 48:30
  So this is phenomenal. And every part of Trump's
• 48:34
  administration, we are seeing pro Bitcoiners and it's a dream
• 48:38
  come true. So this price suppression that
• 48:40
  we're seeing now, I just wait, we're we're going to see a
• 48:45
  million before you know it. I believe in Samson now.
• 48:48
  Let's go. Oh, mega candles coming soon.
• 48:52
  Let's go. All right, Luke, as a, you know,
• 48:57
  fellow Bitcoiner, but also a digital nomad and I would say an
• 49:01
  outside observer of American politics, what is your take on
• 49:06
  this new story? Obviously you're like, hey, like
• 49:09
  I'm Australian, I don't really care.
• 49:10
  I don't even live in my home country.
• 49:12
  It doesn't matter to me. We all know you're not even in
• 49:14
  America at the moment. So, but what's your thoughts on
• 49:17
  seeing seemingly Bitcoiners infiltrate the government?
• 49:20
  Is this a good or a bad thing? Yeah.
• 49:25
  So again, I've come from a very, let's call it black pilled view
• 49:30
  of the world in 2020 when I didn't quite understand the
• 49:34
  importance of technology in the broader framework that we're
• 49:38
  kind of living in today. And then I think Lynn Alden has
• 49:41
  a really good quote in her recent book Broken Money.
• 49:45
  Her quote goes something along the lines of politics effects,
• 49:50
  effects things locally and temporarily, but technology
• 49:56
  changes things permanently and globally.
• 50:00
  So I think I've had this, you know, global, long term, medium
• 50:05
  term view of the world that we're kind of living through
• 50:08
  this separation of money and state.
• 50:12
  And it's the technologies like the Internet and Bitcoin that is
• 50:16
  making this separation of money and state possible.
• 50:20
  Again, this is kind of very similar to what we saw in the
• 50:23
  1500s, exactly 500 years ago, when the technology of the
• 50:28
  printing press separated the church from the state.
• 50:32
  Again, what happened? The printing press enabled mass
• 50:35
  distribution of books, which spread information all around
• 50:39
  the world. And people were like, once they
• 50:41
  were able to read the books for themselves, they're like, hang
• 50:44
  on a minute, The church and the state, they're kind of lying to
• 50:48
  us. I don't need to trust them to
• 50:50
  lie to us. I can now be informed and
• 50:54
  actually don't need to trust what these liars are telling me.
• 50:58
  OK. So again, it was the
• 51:00
  decentralization and democratization of information
• 51:03
  via the printing press that created the biggest revolution
• 51:06
  in history, the separation of church and state in the 1500s.
• 51:09
  But that revolution, it was a bloody one.
• 51:13
  It was a very violent revolution.
• 51:16
  I need to be very careful about what I say here.
• 51:18
  But again, I've been prepared for something similar here in
• 51:22
  the twenty 20s because I think this separation in the digital
• 51:26
  realm, the digital age, I think there is so much more riding on
• 51:30
  this revolution than the one we saw in the 1500s.
• 51:34
  Because if this revolution fails, there's only two ways we
• 51:38
  can go in the digital age. Complete totalitarian nightmares
• 51:44
  like 1984. Full blown digital dystopians
• 51:48
  being built all around the world.
• 51:50
  If Bitcoin fails, this is the world we're living in.
• 51:53
  We're living in a world where facial recognition technology is
• 51:58
  everywhere. We're living in a world where
• 52:00
  you don't get a say over what happens with your own body.
• 52:03
  You have to live in the pods and eat the bugs.
• 52:06
  You have to take all of the mandated food and let's be
• 52:11
  really careful what I say, the mandated things that the
• 52:14
  government says you must have. We're living in this world where
• 52:17
  you have no control over your money, you have no control over
• 52:20
  your body, and you have literally no control over
• 52:23
  anything in your life. As the World Economic Forum
• 52:25
  says, their predictions for 2030 is you will earn nothing, you
• 52:32
  will be happy, you will eat the bugs, you will live in the pods,
• 52:36
  and everything you own you will rent.
• 52:39
  This is what the World Economic Forum was recently saying just a
• 52:42
  few years ago. So I think that is option B.
• 52:47
  If Bitcoin fails, this is the world we're living in.
• 52:49
  If Bitcoin and the Internet and all of these decentralizing
• 52:53
  technologies that we're able to access literally on a
• 52:56
  smartphone, anybody around the world today can buy a $50
• 53:00
  smartphone and all of a sudden start storing their energy in a
• 53:05
  form of money that can't be stolen, can't be taxed, can't be
• 53:09
  traced, can't be confiscated, And they can communicate with
• 53:13
  people all around the world without being surveilled.
• 53:17
  What the Internet and Bitcoin has done, I believe, has created
• 53:21
  the potential environment for the biggest revolution in human
• 53:25
  history. And I think the fact that we're
• 53:27
  watching podcasters being elected into some of the highest
• 53:32
  positions of power in the FBI is a sign that we are winning.
• 53:36
  So again, I kind of started that monologue or that rant by
• 53:39
  saying, look, in the medium term or the long term, I'm very
• 53:43
  bullish because politics and rules and regulations can only
• 53:48
  really affect things in the short term.
• 53:50
  So I was a lot more short term bearish back in 2020 and 2021
• 53:55
  being trapped in my home country of Australia.
• 53:57
  But the more I've kind of evolved my thinking, it's
• 54:02
  looking as if I'm actually bullish in the short term, the
• 54:04
  medium term and the long term. Because again, I don't trust
• 54:07
  politicians. I don't trust any politician as
• 54:10
  far as I can throw him. I don't even trust Bitcoin
• 54:13
  presidents right now and I refuse to anchor myself to any
• 54:17
  country, even countries like El Salvador because I am wary of
• 54:21
  things changing. But what I will say is that
• 54:24
  things are looking more short term bullish even in countries
• 54:28
  like America now that we're having literal podcasters and
• 54:33
  it's difficult to call Trump a Bitcoin president, but somebody
• 54:36
  who seems pretty hands off in the whole Bitcoin and shit coin
• 54:39
  space being elected, I think this is all incredibly bullish.
• 54:43
  You know, for a while there, I, I thought, yeah, yeah, we'll
• 54:47
  give, we'll give Luke some horns.
• 54:49
  We'll give Luke some horns. You know, for a while there
• 54:52
  again, I'm, I'm kind of teasing my, my friends over the podcast
• 54:55
  today, but they've been going really hard on, on Twitter.
• 54:58
  Like Bitcoin podcasters will take over the world, you know,
• 55:01
  like quit your job, become a Bitcoin podcaster, obviously
• 55:05
  teasing the whole Bitcoin pod comp industry.
• 55:09
  We, we get caught up in it all the time though full clarity.
• 55:11
  I am not pod comped approved and and everyone's like what even is
• 55:15
  pod comped? It's, it's it's a it's a meme.
• 55:17
  They're they're they're great people over there.
• 55:19
  It's it's satirical, but it does seem like as as we've seen kind
• 55:24
  of happen with the Babylon B where you know Babylon B was
• 55:27
  just satirical. It's it would say ridiculous
• 55:30
  headlines and then now over the years, so many actual news
• 55:34
  stories come out that are even more ridiculous than the Babylon
• 55:37
  Bee and predicted those news stories.
• 55:39
  And I think now, now the podcast is completely approved here, you
• 55:43
  know, fully validated. They were talking about
• 55:46
  podcasters will take over the world and it's seemingly
• 55:51
  happening as we speak. So it's just it's it's it's an
• 55:55
  incredible, incredible timeline we are in right now.
• 55:58
  Anyways, before we wrap up today's show, guys, make sure
• 56:01
  you smash the like button. I forgot to say that earlier.
• 56:04
  Let's get 10 likes up to 200 right now as we transition and
• 56:08
  we talk about Sat Wise's Bitcoin journey.
• 56:11
  As he said earlier, he's been in Bitcoin for what 13 years now
• 56:15
  since 2012, actual OG 2013. Amazing.
• 56:19
  And we're going to be talking about, you know, orange peeling
• 56:21
  because a lifestyle as you see a shirt.
• 56:23
  I told you so and actually interesting story in regards to
• 56:28
  one of these updates from, you know, the state pushing a
• 56:31
  strategic Bitcoin reserve. So without further ado, let's
• 56:35
  get into the culture. I want to give a shout out to
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• 58:16
  All right, guys, well, we got a special, special culture for you
• 58:20
  guys today because he's one of you guys.
• 58:23
  SAT wise Jinx literally hangs out in the chat every single
• 58:26
  day. You know, when when Luke popped
• 58:28
  on earlier, Luke's like, hey, sorry, we were having issues
• 58:31
  getting the getting Luke's stuff figured out.
• 58:33
  That's why we were late, you know, throw the tomatoes at Luke
• 58:35
  today and Luke finally gets the stuff working.
• 58:38
  He's like, hey, sorry man, you know, I didn't get to introduce
• 58:41
  myself like, you know, who are you?
• 58:43
  And he's like, it's SAT wise Jinx.
• 58:45
  He's like, oh, what? Like let's go.
• 58:47
  So SAT wise is watching all the content.
• 58:50
  I think you said you were a mod on a lot of stuff.
• 58:52
  So literally guys, SAT wise hit me up in the chat because I I
• 58:56
  know SAT wise. We talk constantly.
• 58:58
  I'm the one handling the chat constantly And SAT was like, Yo,
• 59:01
  can I come on the show and or he's like, I think you were
• 59:04
  trolling me, like or do I have to be like a big Bitcoin
• 59:06
  influencer? I'm like, no, if you have
• 59:08
  something to say, like come on the show.
• 59:10
  So literally he hangs out in the chat with us and we brought him
• 59:14
  on the show. Awesome, awesome dude.
• 59:16
  He's actually a lot more toxic in the chat.
• 59:18
  So he he told me before the show, he's like, I am going to,
• 59:21
  you know, not censor myself, but I'll put a little filter on and
• 59:25
  I'm like, thank you, thank you. You know, let's try not to ban
• 59:28
  our channel here. But anyway, sat wise, thank you
• 59:30
  for coming on. Just give me a little context
• 59:33
  there. But I think the best place to
• 59:34
  start for today's story is just, you know, give us some context
• 59:38
  and we want to I want to start with your Bitcoin rabbit hole
• 59:41
  story giving you, you know, some credibility.
• 59:43
  You've been here longer than I've been, maybe twice as long
• 59:46
  as I've been actually. That's crazy.
• 59:49
  But yeah, you're saying you got 2013 Bitcoiner sell for the new
• 59:52
  people. Maybe there's some new people
• 59:54
  that just came in this cycle. Maybe they came in the 2021
• 59:57
  cycle. Just drop some wisdom for the
• 59:59
  people out there sat wise. Let's talk about your rabbit
• 1:00:02
  hole story and then we'll talk about the next couple of topics
• 1:00:05
  that I know you want to hit on. So the floor is yours.
• 1:00:09
  OK, well, especially from the new people.
• 1:00:11
  I just want to drop a little Pearl of wisdom.
• 1:00:13
  Back when I first got in, it was below 100.
• 1:00:18
  I knew it was going to hit 100,000 even back then.
• 1:00:21
  Just as everyone should be confident that a million is
• 1:00:25
  bearish, it's going to 10 million.
• 1:00:27
  So let me just start with that. It's never too late to to
• 1:00:32
  purchase Bitcoin, to start saving in Bitcoin because it's
• 1:00:36
  going up forever as we know. But my journey started in 2012.
• 1:00:42
  My best friend who I worked with at Built Labs for four years
• 1:00:47
  went on to become an IBM Distinguished Engineer, and he
• 1:00:51
  had access to their supercomputer named Watson.
• 1:00:54
  I don't know if I'm dating myself there, if I'm, but if
• 1:00:56
  it's basically the the predecessor of AI is Watson.
• 1:01:01
  And one day he decided to just throw a Bitcoin mining software
• 1:01:07
  on Watson, and the next day he had 50 bitcoins sitting there
• 1:01:11
  because it was during the first epoch.
• 1:01:13
  So he thought, well, that was neat.
• 1:01:15
  So he did it again, got another 50 Bitcoin a week later.
• 1:01:19
  IBM Security contacts and he said we had a massive, massive
• 1:01:24
  power spike two days that you what what happened He was in VR
• 1:01:30
  software for IBM at the time. He said, oh, my program just
• 1:01:33
  went into an infinite loop and they're like oh OK.
• 1:01:36
  But he would when he told me that story, I realized that
• 1:01:41
  energy backs Bitcoin. It's not out of thin air like
• 1:01:44
  the US dollars printed. So that was a big learning for
• 1:01:49
  me and unfortunately I didn't buy, you know, it was 2012,
• 1:01:53
  like, oh, I thought I missed it because he told me about it when
• 1:01:56
  it was like $5 and it went to 10, then it went to 20 and I
• 1:02:01
  always thought I was too late. So there's another pro wisdom.
• 1:02:04
  You're never too late, never too late.
• 1:02:06
  You just have to start Bitcoin and eventually it went over $100
• 1:02:17
  and it was during the Cyprus bail in in 2013 that I realized
• 1:02:23
  that your money is not safe in a bank.
• 1:02:26
  So when it shot back under 100, that's when I made my initial
• 1:02:31
  purchase and I lost some of it S coining.
• 1:02:37
  I got to admit and I lost a couple Bitcoin on a phone that I
• 1:02:43
  backed. I was trying to back up and I
• 1:02:45
  never wrote down my key phrase. So I made every mistake a
• 1:02:50
  bitcoiner could possibly make. But the biggest mistake I'm
• 1:02:54
  going to Fast forward from my IBM buddy.
• 1:02:57
  Unfortunately, a few years ago, he died young.
• 1:02:59
  He passed away, had a heart attack at the age of 50, and
• 1:03:03
  there's someone with hundreds and hundreds of Bitcoin because
• 1:03:06
  he continued mining his own Bitcoin and his widow could not.
• 1:03:10
  He didn't leave anything for his widow.
• 1:03:13
  And I went up there and I spent days just looking at, I found
• 1:03:17
  empty wallets, but I never found his stash.
• 1:03:21
  And now his widow not only lost a husband, but lost a fortune.
• 1:03:25
  So you have to back up your Bitcoin.
• 1:03:27
  It's so critical and essential. If you love your family, back up
• 1:03:32
  your. Bitcoin Wow.
• 1:03:34
  And not only back it up, but also, you know, not
• 1:03:38
  overcomplicating it. So as as a lot of as a lot of
• 1:03:42
  new products are coming out, kind of figuring out your wills
• 1:03:45
  and everything and how you can pass that Bitcoin on to your,
• 1:03:48
  your family or, you know, your loved ones.
• 1:03:51
  Because I've heard a lot of stories that are very similar
• 1:03:54
  like that. And man, what a what a
• 1:03:55
  heartbreaking story. And as everyone is saying in the
• 1:03:58
  chat that, you know, IB Miss Watson was some mining Bitcoin
• 1:04:01
  back in the day. What, what a legendary nugget of
• 1:04:04
  lore there. OK, so set wise before we we go
• 1:04:07
  into other topics, I do kind of want to ask a personal question
• 1:04:11
  to you. You know, you've been in Bitcoin
• 1:04:12
  since 2013. We're in 2025 S like looking
• 1:04:17
  backwards on your journey, does it feel like things are
• 1:04:20
  happening faster than you thought it would?
• 1:04:23
  Or, you know, you're just like, it's all one blurry long decade
• 1:04:28
  of being a Bitcoiner and there's been ups and downs.
• 1:04:31
  And this is just the the newest iteration of those that roller
• 1:04:34
  coaster ride because, you know, I got in Bitcoin in 2017.
• 1:04:38
  It's what, 88 years now? That's that's crazy.
• 1:04:43
  And it does seem like things are happening faster than I could
• 1:04:48
  have imagined, especially these new developments we're seeing
• 1:04:50
  from the Trump administration and all these bit corners
• 1:04:53
  getting in a position to power. And it seems like things happen
• 1:04:56
  very, very quickly. But when you go through it, you
• 1:04:59
  know, the long, the long, just freaking just brutal bear
• 1:05:05
  markets, the euphoric bull markets.
• 1:05:08
  It, it's like it goes by so fast.
• 1:05:10
  But also in the moment you're like, man, when, when is when's
• 1:05:13
  it going to get fun again? So that wise, what's your
• 1:05:16
  thoughts on the current state of Bitcoin looking backwards?
• 1:05:21
  Well, I really think that there was before Trump and after Trump
• 1:05:27
  when it comes to to Bitcoin being experiencing all the
• 1:05:34
  previous epochs and up and down. And I knew it was inevitable.
• 1:05:38
  One of the things that really turned me on to was when my
• 1:05:41
  buddy from IBM said this is just like Napster, except we don't
• 1:05:45
  need banks anymore. And my academic background
• 1:05:49
  actually wasn't ITI was a finance, economics,
• 1:05:51
  international business major, and I got an MBA on top of that.
• 1:05:55
  And I wanted to be a finance guy, traditional Wall Street
• 1:05:58
  guy. Like greed is good.
• 1:06:00
  Gordon Gekko, you know that that really struck me.
• 1:06:03
  But when I went to Temple University and they had a top 20
• 1:06:08
  Business School there, I was stunned by the time I graduate
• 1:06:11
  to realize what a House of Cards this really was.
• 1:06:15
  The financial system is a joke, a pure joke.
• 1:06:19
  And that's why I migrated into tech.
• 1:06:23
  But you had to get back to answering your question.
• 1:06:26
  It felt slow and steady. And every epoch someone say,
• 1:06:31
  hey, this time's different, this time's different.
• 1:06:33
  I never felt that way. Now, for the first time, I feel
• 1:06:37
  like it's different. Hyperbiquinization is going to
• 1:06:40
  happen. It's happening now as we speak.
• 1:06:43
  Yeah, you know, I, I've, I say the same thing.
• 1:06:48
  I, I, it's really, I'm trying not to be the cliche Bitcoiner.
• 1:06:52
  And I, me and Luke have this conversation all the time.
• 1:06:55
  It's like we try not to be the cliche Bitcoiner.
• 1:06:57
  But this time does actually feel different.
• 1:07:00
  Obviously we're we're what, two months into it and we'll only be
• 1:07:05
  able to see it in the hindsight, but this time does feel a lot
• 1:07:08
  different than how we've seen it in the past.
• 1:07:11
  And obviously it's going to be incredible as as we move into,
• 1:07:15
  as you said, the hyper bitcoinization that is seemingly
• 1:07:18
  on the horizon. So sat wise, I think right now
• 1:07:22
  is a good place to pivot. Let's talk about the
• 1:07:26
  Pennsylvania bill. You have some good insights on
• 1:07:28
  what's going on. So first, could you give people
• 1:07:30
  some context to that and then tell the people how you're
• 1:07:34
  personally involved in this? Yeah, sure will.
• 1:07:38
  Back in November, Pennsylvania was the first state to announce
• 1:07:41
  it was pursuing a strategic Bitcoin reserve.
• 1:07:43
  And now we have what, over 30I follow Luke's charts all the
• 1:07:47
  time. I think we have over 30 states
• 1:07:49
  that have applied. But what went missing is that
• 1:07:54
  between the Pennsylvania House session last year in 2024 that
• 1:07:58
  initiated it and it was House Bill 2664, it was introduced by
• 1:08:03
  a lame duck congressman and the Co sponsor was also lame duck.
• 1:08:08
  So although it was newsworthy, when the 2025 docket was picked
• 1:08:13
  up, it disappeared. It wasn't there.
• 1:08:16
  So when I discovered that I called the the predecessor for
• 1:08:23
  the, the congressman that introduced the bill in my local
• 1:08:27
  area, Representative Walsh, out of the Wilkes Barre area.
• 1:08:33
  If any Pennsylvania folks are there listening, you could call
• 1:08:38
  and express your support. So I called and I just asked the
• 1:08:43
  simple question, does Representative Walsh still
• 1:08:46
  support HB2664 for a strategic reserve for Bitcoin?
• 1:08:52
  So I didn't expect much of it. This was last week actually.
• 1:08:56
  And that afternoon I got a call back from Representative Walsh,
• 1:09:00
  who was driving back to Harrisburg state capital.
• 1:09:03
  He had a long time to talk and essentially I orange peeled him
• 1:09:08
  and he wants me to come in. I have an appointment on March
• 1:09:12
  20th to go into his office and actually review HB2664 line by
• 1:09:18
  line in detail so he could reintroduce it and get it back
• 1:09:24
  on the docket in Pennsylvania for 2025.
• 1:09:28
  Incredible, absolutely incredible.
• 1:09:30
  And I think that goes to show, you know, as as cynical as Sat
• 1:09:35
  wise might be in the in the YouTube chat sometimes and anti
• 1:09:39
  political as you are is actually making a difference.
• 1:09:42
  And it just started with a simple phone call.
• 1:09:45
  So that's that's incredible to to hear that you just called and
• 1:09:48
  reached out and seemingly opened the door to this conversation.
• 1:09:52
  So maybe Pennsylvania will be actually, I think I'm you know,
• 1:09:56
  I'm a little biased here. I think Texas is going to take
• 1:09:58
  that title as the first state to add a strategic Bitcoin reserve.
• 1:10:02
  But I mean, this really goes kind of back to what we saw with
• 1:10:05
  the SEC reaching out the sailor. And this is kind of where us bit
• 1:10:09
  corners can actually effectuate change.
• 1:10:11
  Now, I know a lot of people are, I would say, allergic to
• 1:10:15
  politicians, but even a simple conversation, it seems like you
• 1:10:18
  have pushed the needle forward sat wise.
• 1:10:21
  So that's that's incredible. I'd, I'd love to hear some more
• 1:10:23
  updates on that. And of course, we'll be talking
• 1:10:26
  about that back and forth in the chat here.
• 1:10:29
  Awesome. I love that story.
• 1:10:31
  OK, final pivot. And then I'll bring, you know,
• 1:10:33
  Luke into this because he's also a part of this.
• 1:10:36
  But you wanted to come on the show and talk about like, orange
• 1:10:39
  Pilling as a lifestyle. And I think this is a perfect
• 1:10:42
  segue considering that you have essentially influenced a
• 1:10:46
  politician to rewrite the strategic Bitcoin reserve for
• 1:10:49
  Pennsylvania. So again, floors are yours.
• 1:10:53
  Hit it. What what do you want?
• 1:10:54
  What do you think that the chat is missing with this idea of
• 1:10:57
  orange Pilling as a lifestyle? Well.
• 1:11:03
  If you want to see the changes, you have to be the change that
• 1:11:08
  you want to be. So I've embarrassed my family so
• 1:11:13
  many times when we were out and I just talked to, you know,
• 1:11:16
  whatever vendor we're frequenting and asked them about
• 1:11:20
  Bitcoin. But I've orange built so many
• 1:11:23
  people in doing that over the last 10 years.
• 1:11:25
  It's been very satisfying. So if you're not afraid to just
• 1:11:31
  open up that door and say, have you heard of Bitcoin?
• 1:11:33
  Do you understand hard money? And honestly, the best thing for
• 1:11:39
  me is retailers, because retailers, I introduce them to
• 1:11:43
  the Lightning Network and they love not having to pay credit
• 1:11:47
  card fees. So there's one food vendor near
• 1:11:50
  me that I pay in Bitcoin all the time and then I just go on and
• 1:11:54
  replenish the Bitcoin I spend with him to build a circular
• 1:11:57
  economy. And he told me he's never sold a
• 1:12:02
  single SAT, he saved everything and that I've spent a lot of
• 1:12:07
  money there and he's basically 5X what I've spent.
• 1:12:12
  So if you approach it in different ways, not necessarily
• 1:12:16
  go, hey, Bitcoin, Bitcoin, but you have to really focus on the
• 1:12:21
  needs of the people. And I think Lightning is going
• 1:12:23
  to be the fulfillment of the old HTTP://4 O2 protocol we used to
• 1:12:32
  see in web browsers because back then they were, they were smart
• 1:12:37
  enough to build in a protocol for payments on the Internet.
• 1:12:42
  It's not going to be Bitcoin because it settles for every 10
• 1:12:44
  minutes, but Lightning is it, especially with Bolt 12,
• 1:12:49
  upgrading from Bolt 11 if, if that's widely accepted, we have
• 1:12:54
  reusable QR codes and privacy with Lightning and I think that
• 1:12:58
  could be amazingly disruptive technology for the banking
• 1:13:02
  industry, especially the debit card industry because what why
• 1:13:05
  pay those fees? Those fees are being passed on
• 1:13:07
  to us anymore. You probably see, you're going
• 1:13:09
  to pay, you know, you get a discount with cash or if you use
• 1:13:12
  a card, you're going to pay 3% more.
• 1:13:15
  Now if you attack the the basic needs of the public with what
• 1:13:19
  Bitcoin can provide, it's it's a better strategy, at least for
• 1:13:24
  me, that it works fairly well. Love it, love it sat.
• 1:13:29
  Well man, it seems like you are definitely moving the cultural
• 1:13:34
  needle towards hyper bitcoinization.
• 1:13:37
  Now I'm going to pass it over to Luke.
• 1:13:39
  You know, you have this opportunity now SAT Wise is
• 1:13:42
  commenting on your chat all the time.
• 1:13:44
  You know, you're familiar with SAT Wise.
• 1:13:46
  So if you want to ask him some questions, maybe some comments,
• 1:13:49
  whatever you want, let's let's get some Luke in here.
• 1:13:55
  Yeah, so I'm blessed because Sat Wise is a personal moderator of
• 1:14:00
  my channel. So he is always helping me with
• 1:14:03
  the orange peeling journey while I'm live on YouTube as well.
• 1:14:07
  So Sat Wise is normally the one, let's just say steering the
• 1:14:11
  crypto curious people in the chat away from the crypto trash
• 1:14:16
  and more towards the Bitcoin signals.
• 1:14:19
  So again, I I love ripping live streams.
• 1:14:21
  I love meeting people from the chat.
• 1:14:24
  I've met a couple of people who honestly just started commenting
• 1:14:28
  on my live stream videos like in the flesh over the past few
• 1:14:31
  months at conferences. And you're at a conference and
• 1:14:34
  someone's like, hey, this is my handle.
• 1:14:36
  I'm always in your chat on YouTube.
• 1:14:37
  It's a it's a beautiful mission. It's a shared mission.
• 1:14:40
  I think we're all on. And again, it's it's not
• 1:14:43
  something you can do alone. It's certainly a little bit of a
• 1:14:47
  team mission, so to say, trying to orange peel the world.
• 1:14:49
  And I think doing it online like we all are today is like, I
• 1:14:53
  believe it's the easiest way to hyper bitcoinize the world.
• 1:14:57
  I used to be the guy who used to meet every single person in the
• 1:15:00
  meat space and be like, hey, after I talk to them for 30
• 1:15:04
  seconds, I grab them by the shoulders and start shaking them
• 1:15:06
  and say you have to learn about this thing called Bitcoin.
• 1:15:09
  And I learned pretty quickly that that's just not the way to
• 1:15:12
  orange peel the world most effectively.
• 1:15:15
  I think again, we only have very limited time and energy, both
• 1:15:19
  time and energy, just like Bitcoin, very rare, very scarce.
• 1:15:23
  I think we do need to be very cautious with how we use our
• 1:15:26
  time and energy, which is why I'm super bullish on trying to
• 1:15:31
  orange peel people online as opposed to meat space.
• 1:15:35
  And I think, you know, doing them online live is just a, it's
• 1:15:39
  another experience. There's so many regulars in the
• 1:15:41
  chat right now. I'm reading all the comments as
• 1:15:44
  I'm talking over here on the Simply Channel.
• 1:15:46
  And again, I think it's I think it's a beautiful thing trying to
• 1:15:49
  orange build the world. And you know, I mean, live
• 1:15:52
  streams like this make it happen.
• 1:15:54
  So yeah, I'm just pumped to be a part of it.
• 1:15:56
  And again, I'm super bullish, super thrilled to be here, Opti.
• 1:16:01
  So thanks for the invite and thank you to guys like Sat Wise
• 1:16:04
  who help keep our chat clean and help you know that orange
• 1:16:08
  peeling journey make it a lot easier.
• 1:16:09
  For totally, man, totally. And, and also adding really good
• 1:16:13
  contexts and takes to everything we're doing.
• 1:16:16
  You know, I, I see a few of the regulars in the chat and, and I,
• 1:16:20
  I didn't have to tell sat wise before the show that it's a
• 1:16:24
  troll box because he knows he's a part of the troll box.
• 1:16:27
  But so I say all that to say, keeping us honest in the chat.
• 1:16:31
  Love you guys. This is this is what it's all
• 1:16:34
  about South Sat wise. Thank you so much.
• 1:16:36
  I will give you the last floor here.
• 1:16:39
  You know, what's the final message you want to get across
• 1:16:41
  to the your fellow regulars in the chat?
• 1:16:45
  And then of course, new viewers that maybe you're hanging out
• 1:16:47
  for the first time. It never stop trying to orange
• 1:16:51
  pill people don't ever quit. Don't get discouraged if you get
• 1:16:55
  rejected, especially your family.
• 1:16:58
  I've been in, like I said, over 12 years.
• 1:17:02
  It took me 10 years to orange pill my family 10 years.
• 1:17:07
  And this past Christmas they bought me this shirt.
• 1:17:11
  So that was the best vindication I could have ever received.
• 1:17:15
  Love it, love it. 10 years. So there you go guys lower your
• 1:17:20
  time preference. It's going to take you 10 years
• 1:17:22
  to orange fill your family and maybe you 2 can get a shirt soon
• 1:17:25
  from your loved ones. Love it love it.
• 1:17:27
  OK before I go though shouts out to Elaine because she reminded
• 1:17:32
  me that there were some super chats in the chat.
• 1:17:36
  So first of all shouts out to Che Amos.
• 1:17:40
  I believe Che Amos for the 199 with the comment and I can't
• 1:17:44
  pull them up. I got lost in our streaming
• 1:17:46
  software. So I got to I got to relay them
• 1:17:47
  to you guys. It goes Bitcoin is the future of
• 1:17:49
  money. OWOA with the glasses smiley
• 1:17:54
  emoji. And then the last one shouts out
• 1:17:57
  the Rocketum rockdum Rocketum. Tell me how to say your name,
• 1:18:01
  dude. Rockdum, Rockdum for the $20 and
• 1:18:04
  he's trolling Luke here and he goes a wrestler, Indiana Jones
• 1:18:09
  and a no coiner. And I think it's I think that's
• 1:18:12
  the start of a joke here. So shouts out to you guys in the
• 1:18:15
  chat. Now before I go, we do have to
• 1:18:19
  talk about Bit Block Boom. We are taking over Dallas, TX
• 1:18:24
  April 3rd through the 6th. Make sure you get your tickets
• 1:18:28
  to Bit Block Boom. Come meet us in Dallas.
• 1:18:31
  The whole simply Bitcoin team's going to be there a true Bitcoin
• 1:18:33
  conference in the sense it is small.
• 1:18:36
  All your favorite Bitcoiners are going to be there.
• 1:18:37
  I've met my lifelong friends at Bit Block Boom.
• 1:18:41
  This is feeling like my home conference.
• 1:18:43
  This is where all my friends go to.
• 1:18:44
  So again, make sure you get your tickets to Bit Block.
• 1:18:48
  Boom, April 3rd through the 6th, scan the QR code and we will see
• 1:18:52
  you in Dallas, TX in what, two months?
• 1:18:56
  Yeah, well, less than two months guys.
• 1:18:58
  So hopefully we see you guys. And of course, if you're still
• 1:19:02
  stacking stats, we will be live streaming it for you guys on our
• 1:19:07
  channel. So with that said, thank you,
• 1:19:10
  Luke. Thank you SAT wise for coming on
• 1:19:12
  today's show. Really appreciate it.
• 1:19:15
  And man, what a what a great way to start the Monday.
• 1:19:18
  We we got a little got a little hopium in there.
• 1:19:20
  We got some rabbit hole stories. We got some crazy things going
• 1:19:24
  on in the world. So hey, the show don't stop
• 1:19:27
  guys. We will be back on that note.
• 1:19:29
  Luke, thank you SAT wise, thank you and we'll see you guys soon.
• 1:19:34
  OK, let me let me pull you guys off the stream.
• 1:19:36
  Hang out for a second while I wrap up.
• 1:19:38
  All right guys, this was your show for Monday, February 24th.
• 1:19:42
  If you think we've provided you value, make sure you smash the
• 1:19:46
  like button, smash the subscriber button and of course,
• 1:19:49
  comment on the show. What did we get wrong?
• 1:19:51
  Or rather, is the US government selling that Bitcoin?
• 1:19:55
  Did they lose that Bitcoin? Has it been stolen?
• 1:19:57
  Let us know in the chat and Nico will be back tomorrow.
• 1:20:01
  We tried to give him a little break today.
• 1:20:03
  So normal show tomorrow and and we hopefully will start, you
• 1:20:06
  know, a little earlier than today.
• 1:20:08
  We had a lot of issues today and Rumble seemed to die on me
• 1:20:11
  midstream. So if you're a rumble viewer, I
• 1:20:14
  will upload today's episode and hopefully Rumble figures out
• 1:20:17
  their things on the back end and we're, you know, no more issues
• 1:20:21
  tomorrow. All right, guys, on that note,
• 1:20:23
  this is your boy Opti. Peace out.
• 1:20:25
  We love you and I'll see you on the other side.
• 1:20:28
  Have a good one. Today's episode was brought to
• 1:20:31
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:20:34
  mission to enable financial independence.