Latest / Simply Bitcoin / Why You Just NEED 0.21 Bitcoin (BTC) | EP 1023

Transcript

Why You Just NEED 0.21 Bitcoin (BTC) | EP 1023 · Simply Bitcoin

0:02
It's. All going to zero against
0:05
Bitcoin. It's going up forever.
0:15
You're against Bitcoin. You're.
0:16
Against. Freedom.
0:22
Good morning Bitcoiners. Welcome back to Simply Bitcoin,
0:27
the most watched live Bitcoin only Daily Show on Twitter,
0:32
Rumble, YouTube and everywhere else.
0:34
We're on Twitch and all that good stuff.
0:36
We cover our breaking news culture, Eminematic warfare, and
0:39
we will be your guide through the separation of state and
0:43
money. Wow, blanking on it anyways,
0:45
guys. So you can tell from the title,
0:47
we are pivoting a little bit from one of the topics that you
0:50
absolutely love on the show, which is how much Bitcoin do you
0:53
need to get into the 1%? And I'm flipping it a little bit
0:56
because I realize when we do this show, we are inadvertently
1:01
stack shaming a lot of people. So we're going to flip it on its
1:04
head a little bit and show you just how little Bitcoin you
1:07
really need to usher in the bright orange future.
1:10
Of course, as we say here every single day, it's not a it's not
1:13
a it's not about the the Fiat price of Bitcoin.
1:16
It's about the amount of SAT that are under your control.
1:18
So I think this is really going to blow all of you guys minds
1:22
out there. If you've been here for a while,
1:23
you'll realize just how little Bitcoin you really need to usher
1:26
in the bright orange future for yourself and your family and
1:29
your future generations. But I'm reminded of what CK
1:32
Snarks always says. You are not bullish enough on
1:34
Bitcoin. And so This is why we are
1:36
tweaking the topic a little bit and showing you just how much
1:40
Bitcoin you really need to usher in what we believe to be the
1:44
bright orange future. So if you're watching the
1:46
playback, go in the time stamps and you can get right to the
1:48
point. If you're here with me live,
1:50
then we got a whole show for you guys.
1:52
And to put some context on to today's show, I have a clip of
1:59
Michael Saylor at Bitcoin Atlantis.
2:01
So if you guys probably saw this, this came out about a
2:04
month ago, but I think this is good context for what we're
2:08
going to be talking about in the news is that the journey to
2:13
becoming a Bitcoin, and actually we kind of talked about it
2:15
yesterday, there is a hero's journey to becoming a Bitcoiner.
2:18
You don't just come into the quote UN quote crypto space and
2:22
end up a Bitcoin maximalist. You might have to put your hand
2:25
on the stove. You probably start off as a
2:28
skeptic. Everyone is a pre coiner.
2:30
You're not just born a bit corner yet.
2:32
We are not in a world yet where you are born a bit coiner.
2:35
You have to become a bit coiner. So there's a clip that we posted
2:39
on our Twitter timeline, the Simply Bitcoin TV Twitter
2:42
account of Michael Saylor at Bitcoin Atlantis, talking about
2:46
his journey from going to from skeptic to Bitcoin maximalist.
2:50
And I think this is a great context for what we're going to
2:52
be talking about in the news. Considering that I think this
2:55
clip today, or rather this episode today is going to
2:59
hopefully expand to the newer bit corners.
3:02
And you guys know, what we try to do here at Simply Bitcoin is,
3:06
of course, we rally the troops with our friends every single
3:09
day. All the savage bit corners that
3:10
show up with us every single day.
3:12
We love you guys, but we're also trying to get new bitcoins into
3:16
the fold. So hopefully they click on the
3:18
video, they watch simply Bitcoin and they realize that we are in
3:22
this for the long run. This is a peaceful revolution
3:25
and all you need to do is stack sat.
3:28
So that's the goal today, just to show for the new people here.
3:32
You know, there's a lot of new entrants in 2024 and I think by
3:35
the end of the year we're going to get even more entrance.
3:37
And 2025 there's going to be a whole new crop of big corners
3:41
and they're going to have to catch up to what we all know to
3:44
be the truth. There is Bitcoin and then
3:47
there's everything else. And the name of the game, as I
3:50
like to say, is Hungry Hippo. You just need to stack as much
3:53
Bitcoin as possible. Take it into cold storage.
3:55
Do not leave it on exchange, eliminate the middle men and you
3:59
will set yourself up for a better future and live a better
4:03
life because that's what this is all about.
4:06
Opt out of the Fiat monetary system, opt out of a money that
4:11
is designed to steal from you and realize that all you have to
4:14
do is stack sacks and chill. It is such a simple life.
4:18
Go outside, touch grass, make sure your skills are better,
4:21
make sure you are getting more cash flow.
4:23
And this is how you succeed going into 2030.
4:27
And this is the goal. Get as many sets as possible
4:29
under your control. Well, as you can tell, it's your
4:32
boy Opti. I'm hosting today's show, but
4:34
I'm not alone. I'm here with the man that makes
4:37
me look good every time we come on this show, I am the left side
4:41
of the bell curve and maybe Chris is more of the right side
4:44
of the left side of the bell curve.
4:46
But nonetheless, when Chris comes on, we drop some sauce.
4:49
And of course Chris is. I always forget what your
4:53
official title is at Swan. Programming Manager.
4:56
Yeah, Programming manager at Swan.
4:58
So he's the guy behind most of the Swan content right now.
5:02
And of course, if you guys know, been here for a while, formerly
5:05
at Bitcoin magazine, but programming head at Swan
5:09
Absolute, I would say just a gentleman and a scholar, you
5:13
know, a good personal friend. I love Chris, he's great.
5:16
We have we have great times every time we hang out together
5:18
and every time we're on the show, it's always just pure
5:21
sauce. I I speak in memes and Chris
5:24
speaks in in actual English. So we, we want a good tag team
5:27
on today's show. Anyways, Chris, how you doing
5:29
bro? Doing well always whenever we
5:31
hang out in person. My liver is always hurting
5:32
though. Opti always hurt and I know that
5:36
was going to be no different this year.
5:37
So a couple weeks will. Yes.
5:39
Yes don't doxing me, bro quit doxing me on the stream, bro Oh
5:43
man all right well, yeah, can't wait to see you bro and yeah
5:48
let's let's get into the show of course guys we have a guest
5:51
today I'm super excited for today's guest we got James of
5:55
stamp seed, the founder creator of stamp seeds, also sponsor of
5:59
the show. We absolutely love the products.
6:01
I actually have mine right here, you know, the, the simply
6:04
Bitcoin branded one. So we're going to be talking
6:07
about the stamp seed today. But actually James was just
6:10
telling me before the show, you know, we're one day out of 4th
6:13
of July. Most of us are Americans here.
6:16
I know our audience is international, but I I think it
6:20
would be a miss if as Americans we don't talk about and connect
6:25
4th of July with Bitcoin and the importance of everything and why
6:29
we Bitcoin in the 1st place. It's all about freedom at the
6:31
very end of the day. Anyways, James, how you doing
6:33
today? Good to have you.
6:35
I'm doing great, you know, awesome to be here with you
6:37
guys. Met Chris at Pacific Bitcoin, so
6:39
good to be on with him too. Fresh back from Prague.
6:43
So I got to see the other side of the world and meet a lot of
6:45
Bitcoiners there. A lot of them are fans of your
6:47
show. They TuneIn daily.
6:48
They they told me and you know, I also TuneIn when I can, I try
6:52
to do it daily and you know, I'm glad to actually be here with
6:54
you guys. So let's kick it.
6:57
Love it man, love it. Yeah, well, we got a we got a
6:59
great show on today's programming.
7:02
But before we do that, of course you already know the deal guys,
7:06
we have to pay the bills here at Simply Bitcoin.
7:08
So shouts out the bitcoinwell.com.
7:11
The best place to stack Bitcoin, it is self custody by default,
7:15
which means you literally need a Bitcoin wallet to buy Bitcoin
7:18
from Bitcoin. Well, there is a promo code of
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7:26
you can, you know, help the boys out over here, buy real Bitcoin,
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enable your independence with the fastest and safest way to
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buy Bitcoin in Canada and the USA with a 1% spread, which is
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pretty much the industry standard.
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It's Bitcoin only. We only partner with Bitcoin
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only companies. And like I said, non custody by
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default, which literally means you need to have a Bitcoin
7:44
wallet before you start buying Bitcoin.
7:46
And the reason for this is because you don't want to leave
7:48
any Bitcoin on an exchange, so they're incentivizing you too.
7:53
Use the best Bitcoin practices, future proof your money and make
7:56
sure you are stacking them SAT consistently anyways as you
8:00
already know the deal. Hold on, I need to I need to log
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in here for some reason I get logged out all the time.
8:07
Go to your Bitcoin well dashboard and when you buy
8:10
Bitcoin, when you refer your friends to Bitcoin Well, you can
8:14
get some wishing well points and of course when you redeem, you
8:17
have a chance to win up to 1,000,000 sats.
8:20
So I'm going to do this live pull out your lightning wallets
8:23
right now and maybe we get the million sats today, which is
8:27
going to be a bummer because I don't have my lightning wallet
8:30
up right now. So if today's the day, I'm going
8:33
to be very mad about it. OK, there you go First one to
8:36
scan it get 500 stats and we'll be we'll be spreading the love
8:40
to you guys constantly on the show.
8:42
We we Miko, he says we don't scan these, but if it's a
8:45
million stats, I'm going to tell you right now I am going to scan
8:47
that that QR code. All right, anyways, guys, let's
8:51
get into today's show because we have a lot to talk about Bitcoin
8:56
numbers. Is your Bitcoin and cold storage
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really secure? Is your seed phrase really
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wealth on paper. Papers prone to water damage,
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fire damage. You want to put your
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generational wealth on one of the strongest metals on planet
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earth. Titanium.
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Your words are actually stamped into this metal plate with this
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apart and pieces falling everywhere.
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All things that paper is not, allowing you to huddle your
9:48
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Stamp your seed on stamp seed. Guys, do not leave your
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generational wealth on a piece of paper in your sock drawer.
10:02
You need to make sure you're stamping it in titanium as it's
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zooming in. And I got the limited edition
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Simply Bitcoin one, so you guys can't get this one, but hey, go
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to their website, get yourself some titanium, get yourself a
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stamp seed kit and secure your generational wealth.
10:17
Of course, scan the QR code and you are good to go.
10:21
All right guys, so for the new people here on the show, we
10:23
start off with the numbers. That's why we call it the
10:25
numbers, guys. We got to make sure that you're
10:27
up to date on what's going on with the Bitcoin time chain.
10:31
So of course the number that most people care about is the
10:33
price, which at times a lot of us bitcoiners say might be the
10:37
most boring number here. But hey, we all know that the
10:40
Bitcoin price is a real time metric of people's understanding
10:42
of Bitcoin. So right now it's that's
10:44
$60,460. The stats per dollar AKA how
10:48
much Bitcoin you can get for a single dollar or AKA how much
10:52
the dollar is worth in Bitcoin is currently at 1654 stats.
10:57
My favorite number because it just proves that Bitcoin is
10:59
working exactly as designed is the block height.
11:02
And we're currently at 850,554 and the total percentage of
11:07
Bitcoin that will ever be issued, I repeat, that will ever
11:09
be issued is currently at 93.9%. The realized monetary inflation
11:14
taking Fiat currencies of school is currently at $1.19 trillion.
11:21
So a little, you know, I think, I think we're, I think we're
11:24
under silver right now. But hey, that's just some bear
11:27
market things. Anyway, the total public
11:29
lightning capacity is at 4941.31 BTC.
11:33
And the day since all time high is 111 days and it's declined
11:37
from all time high is -18.1%. The median fee, you know, the
11:42
average, the, the fee right now what you're probably going to
11:45
pay if you're trying to consolidate your UT XL is like
11:47
I'm telling you, is it 20 sets, which is it's pretty good, not
11:50
not too bad. Hopefully we don't get some
11:53
crazy, crazy fee volatility moving forward, But I'm not
11:57
playing a video. Actually, I'm going to leave
11:59
this up for a moment cuz I, I did see a pomp video this
12:03
morning on Fox News and he was talking about the, how the
12:06
volatility in Bitcoin is going to get dampened.
12:08
And I, I think he's kind of has a point there.
12:10
Yesterday we were talking about it being -15% today's at -18% So
12:15
will we be seeing, you know -50 negative 60, negative 30%
12:19
drawdowns? Only time will tell.
12:21
But that's not the topic today. The topic I want to talk about
12:24
today is this video of Michael Saylor at Bitcoin Atlantis.
12:29
And it's about his journey from skeptic to Bitcoin maximalist,
12:34
or basically the journey that every single one of us has to go
12:38
through to becoming a Bitcoiner. We all start off as a skeptic.
12:42
We're all a little weary. We all like this Internet money
12:45
sounds too good, you know, or rather Bitcoin price is too
12:48
high. Maybe I'm late to Bitcoin.
12:49
Maybe I don't need to buy this. It's going to crash.
12:52
You know, all the Paul Krugman's of the world telling you Bitcoin
12:55
is, you know, fake Internet money.
12:57
It's not backed by anything. It's going to crash.
12:59
And all of the other I think now like 800 plus obituaries
13:03
regarding Bitcoin. You start as a a skeptic and
13:06
then the farther you move down the rabbit hole, the more you
13:10
money you put into Bitcoin, the more you are forced to learn
13:13
about Bitcoin. And once you actually understand
13:17
what is Bitcoin, there's no turning back and you don't go
13:20
back to the Fiat world. So let's play this.
13:23
It's I'm not going to play the whole video.
13:24
So if you guys want me to drop this in the chat, I'll, I'll
13:27
give you guys the the whole link.
13:29
So it is at 1.25 here. I'm going to play about half of
13:32
it because it it really just explains the Bitcoin hero's
13:36
journey. And of course you can hear it
13:38
from just the everyday bitcoiner, which is us.
13:40
It's simply Bitcoin. You know, we're just bitcoiners.
13:42
We just started a YouTube channel but we all experience
13:45
the same journey. Or you know, you can hear it
13:48
from a billionaire like Michael Sailor.
13:49
You you can pick your poison. Whichever 1 resonates more with
13:52
you. That's why we bring examples
13:55
like this on the show. But let's hear this.
13:57
Bitcoin is an instrument of economic empowerment.
14:01
And if Jack Dorsey's here, I give him a shout out.
14:03
Jack Dorsey put that in my head. By the way, don't get, don't get
14:14
dejected that someone may actually be a denier.
14:17
You know who was a denier? Me.
14:21
And you know what, I became next a skeptic.
14:24
And then at some point I looked and I said, you know, the
14:28
world's kind of messed up and interest rates are zero and my
14:30
dollars are generating zero. I'm going to buy Bitcoin.
14:33
And I became a trader. And then after I bought the
14:36
Bitcoin, I started reading a lot more and listening a lot more
14:38
podcasts and thought about it. And I realized, no, I should be
14:41
an investor. You know, And I would say when I
14:44
got in there, when you started hearing about me, I was kind of
14:46
at the investor stage. But it was everybody in this
14:49
community and every every Bitcoin podcaster and every
14:51
writer and every educator that collectively got me over the
14:54
line to becoming a maximalist where I said, so, yeah, if you
15:07
don't think you make a difference, you do make a
15:10
difference, right? You're never going to see a
15:12
collection of people like this at A at an Apple investor
15:15
conference or at a Google investor or Microsoft investor
15:18
or NVIDIA investor conference or Gold investor conference.
15:21
This is very special. I like the orange.
15:29
I'll marry the orange. When you're orange pelling
15:34
right, you're working people intellectually, but there's also
15:36
spiritual. And they all start as observers.
15:39
It's all the people writing about Bitcoin on Twitter and
15:41
they observe it, but they don't own any.
15:43
And then they become participants.
15:44
And then they start to actually buy and build on it.
15:48
And maybe they own like 1%. And then the believers say, wait
15:51
a minute, this really is the best asset.
15:53
And maybe 40% of My Portfolio is liquid and my rest of my wealth
15:56
is in my house. And so they go and they start to
15:58
put a bunch of their liquid wealth into Bitcoin because
16:00
they're believers. And then at some point you get
16:03
to be hardcore and I'll call you and adhere and, and then you're
16:06
like, all in. It's like the only thing I want
16:08
to invest in is Bitcoin. You know, I'm not saying you got
16:11
to sell all your chairs, just the ones you don't need, but
16:17
this is a spiritual journey. And then and then at the final
16:19
point, you become an advocate. And when you're an advocate,
16:21
it's not just your all in. You want to go tell other people
16:24
you want to convince your company, your charity, your
16:27
church, your government, your friends, your family.
16:29
You're an advocate. So think of this.
16:32
All right, I, I could keep this going, but I'll, I'll drop it in
16:35
the chat for you guys so you guys can see this.
16:36
So I'm going to, I'm going to rewind this a little bit just so
16:40
we can get this screenshot right here of the journey of being or
16:45
rather becoming a Bitcoin maximalist.
16:47
As you can see, I think all of us Bitcoiners kind of go through
16:50
the same thing. I know personally, I literally
16:53
watch an Andreas Ontonopoulos video 2017.
16:55
The first time it hit 10 Ki put like $100 in.
16:59
And then I started watching all of Andreas Ontonopoulos videos
17:03
and I got to the point pretty quickly that Sailor was saying,
17:07
it's like I was thinking about selling all my chairs.
17:09
Like what is it nailed down so that I can stack as much Bitcoin
17:13
as possible. A lot of people's journeys are
17:16
different, but there is 2 takeaways on this video that I
17:19
do want to emphasize, especially for the audience out there.
17:22
One is don't get too upset about your friends being, you know,
17:27
skeptic, starting as a skeptic, or rather the fact that once you
17:31
become orange peeled or once you become a true Bitcoin believer,
17:34
you go out there and you try to evangelize about Bitcoin as much
17:37
as possible and people don't listen to you.
17:40
This is totally normal. I, I think we've all gone
17:42
through this, but the point that I think really is should be
17:47
emphasized is that every single one of us has the power to
17:50
continue to spread the Bitcoin message.
17:52
I would almost add that it's our duty to spread the Bitcoin
17:54
message. Obviously have some tact.
17:56
Make sure that you're doing it in a way so you don't look like
17:59
Charlie Day. But it's super important to talk
18:02
about Bitcoin to spread the Bitcoin ethos, the Bitcoin
18:05
memes, because the world needs Bitcoin and that's the biggest
18:09
thing that we talk about here on the show all the time.
18:12
Fundamentally, you need to ask yourself what is money?
18:15
And then you go down to the next question, which is like, why are
18:18
we being forced to use a money that's designed to steal from
18:20
us? And then you finally get to the
18:22
bottom of the rabbit hole, rather the bot, the beginning of
18:24
the bottom of the rabbit hole. And you're like, okay, it is
18:27
only Bitcoin. It will only be Bitcoin and I
18:29
need to stack as much Bitcoin as possible.
18:32
So I absolutely love hearing Michael Saylor say exactly what
18:35
we say here on the show every single day is like there's a
18:39
process to becoming a Bitcoiner. You don't become a Bitcoin
18:42
maximus overnight. You got to put in the work a
18:45
little bit. But I think moving forward,
18:47
which is why we do simply Bitcoin, which is why we even
18:50
became Bitcoiners in the 1st place, is because there is a lot
18:54
of really good Bitcoin only content creators out there.
18:57
So if you get into the shit coin rabbit hole, then you should by
19:03
now know that you are pretty much just gambling.
19:05
And as long as you know you're gambling and you know what
19:08
you're doing, then hey, have fun.
19:09
Put your hand on the stove. But if you're like me and you
19:12
just want to save in something that cannot be stolen from you,
19:14
that cannot be the base, then it is Bitcoin.
19:17
And once you get to the quote UN quote maximalist stage is when
19:20
you understand how the world works, why you need to save in
19:24
Bitcoin, why Bitcoin is the superior money in in the whole
19:27
entire world, why it's the superior as if the last 15
19:30
years, all that good stuff is because Bitcoin has the best
19:33
money properties. And then you go around and you
19:35
tell everyone you can anyone that'll listen that Bitcoin is
19:38
the best you need to save in Bitcoin.
19:39
Maybe set up ADCA, maybe go all in, whatever works for you.
19:43
Everyone eventually gets to the point of becoming a Bitcoin
19:47
maximalist unless they get caught up in the, you know, the
19:49
shit coin circus. And hey, by all means, do what
19:51
you do, but we're Bitcoiners, we will stay Bitcoiners and we
19:54
think the whole world will soon enough wake up to Bitcoin
19:57
because we all have the same problem. 8 billion people on
20:00
planet Earth are using a money that is broken and Bitcoin fixes
20:04
this anyways, Chris, let's get a let's get a right side of the
20:07
Bell curve take on this. I always appreciate it, Opti.
20:10
I'll try and keep my voice down and I turn my game down a little
20:12
bit so I. Hope I'm not turn you down a
20:13
little bit. I'll turn you down a little.
20:14
Bit all right, I hope I'm not blowing out anyone's speakers,
20:16
but one thing that I always love is the blue collar Bitcoin guys
20:20
have a way of saying it. There's the four eyes.
20:22
At first Bitcoin is idiotic, then it is intriguing, then it
20:25
is important, then it is an imperative.
20:27
So similar kind of breakdown to the five ways that sailor had it
20:30
laid out just a little easier to remember four eyes, easier for
20:33
me to remember left side of the bell curve.
20:35
So at first it's idiotic. People hear about Bitcoin.
20:37
They're like, it's dumb, never gonna catch on, stupid.
20:39
Michael Saylor even said this in 2013.
20:42
You know, his tweet saying, like Bitcoins going to be like
20:45
Internet gambling. It's never going to catch on and
20:46
just die with a like a whimper. Then it's intriguing.
20:49
Then you're like, OK, like I heard a couple more arguments
20:51
for why Bitcoin makes sense. I heard maybe like, what is
20:53
money? Like, makes more sense.
20:55
And then you're like, oh shit, like Bitcoin's important.
20:57
I need to have some of it more portfolio, you know, I, I need
21:00
this. And then it's imperative.
21:01
It's, you know, the Fiat system is dying, hopefully gradually,
21:04
then then suddenly or, you know, a slow transition from one to
21:08
the other, because if it's very rapid, it can be very painful
21:10
and, and, and they're very painful for many people.
21:13
And I, I hope that's not the case and I hope there's not a, a
21:16
revolution because of it, because normally that is quite
21:18
violent. And as someone that hopes to
21:20
bring kids into the world in the in a couple years, you know, I,
21:22
I hope to make this world a better place for my kids and my
21:26
kids kids in the future. But yeah, I think that's a good
21:29
way to think of the framing of Bitcoin.
21:31
And yeah, I think that's kind of a good basis.
21:34
I forgot where I was going to go next, Opti.
21:36
I don't know. It's all good.
21:39
It's all good because I do want to jump off on a point that you
21:41
just said, because if we're talking about new entrance to
21:45
Bitcoin or rather skeptics to Bitcoin and Bitcoiners in
21:48
general, they usually say something on the lines of like,
21:51
oh, Bitcoiners are just greedy. They just want to get wealthy.
21:55
You know, they're only in it for the Lambos.
21:57
But a lot of the Bitcoiners that I talked to is exactly what you
22:00
just said, Chris. It's like we literally want to
22:03
leave a better world than the one that we found and building
22:06
on a better money will usher in a better world.
22:09
And yes, as much as we all love to see number go up, we also
22:14
really want to improve planet Earth and and have freedom go up
22:17
with it so that the world isn't getting destroyed in real time
22:20
because of the Fiat system. It's like you can leave a better
22:23
world for your children and your children's children and
22:26
hopefully pass on some generational wealth.
22:28
Like I think that is one of the best things about most bitcoins
22:31
that I know. You wanna jump in, Chris?
22:33
Yeah, I remember the last point. I wanted to say, Opti, you said
22:36
this earlier that it's important that we teach other people about
22:38
Bitcoin. And I know I've probably James
22:40
and and Opti, they can say for themselves, but I'm kind of
22:43
changing my stance. When I first got into Bitcoin,
22:45
you know, you're shooting, shouting from the rooftops,
22:47
telling all your friends or family they're like, OK, Chris
22:49
is the crazy Bitcoin guy. Like, you know, this guy's a
22:52
little deranged. But I do think it is important
22:54
that we teach others about Bitcoin and the importance
22:57
because we're trying to, like Opti was saying and kind of
22:59
tying back to everything, we're trying to make the world a
23:01
better place. And we see Bitcoin as a route to
23:03
build a parallel system that is better for everyone.
23:06
You know, the kids, you know the world, you know, Fiat steals
23:09
from people. Bitcoin's a way to
23:10
meritocratically increase and, you know, like generate wealth
23:15
or or distribute wealth that's more fair, maybe not equally,
23:19
but fairly a fair distribution of obviously the way that
23:22
Bitcoin came into the world and the way that you need to put
23:25
your time and energy to acquire more of it.
23:26
And, you know, if you hold on to it for a long enough time frame,
23:29
you know, it hopefully increases the purchasing power of yourself
23:32
and and those around you that are using it.
23:34
So yeah, that's kind of the last point that I want to.
23:36
Bring up Chris and and just to like put it in mimetics, for
23:38
most people out there, it's not about equal outcome, it's about
23:42
equal opportunity. And that is how you usher in a
23:45
more equitable world is that we all have the opportunity to
23:48
succeed. Doesn't mean we're all going to
23:50
get the same outcome. It just you have the same chance
23:53
to further prosper yourself and your family.
23:56
Anyways James, pop in. What's your thoughts on this
23:58
whole topic? Or maybe just a sailor clip in
24:00
general. Yeah, I mean, the clip in
24:02
general, I guess the topic at a high level, what he's saying
24:05
just points out that no matter what level you're at, who you
24:08
are, everyone goes through the same journey with a fully
24:10
understanding what Bitcoin is. Whether you're, you know, just
24:13
regular plebe or Michael Saylor of the world, everybody has to
24:17
you go through this evolution where maybe it starts out where
24:19
you're just trying to invest in something, preserve your wealth,
24:22
and then, you know, maybe you get rubbed on some shit coins
24:25
along the way or you know, you can fully understand what you're
24:28
investing in. It takes a couple cycles to to
24:30
truly know what it is, but eventually, once you're putting
24:32
your 100 hours in or, or just studying it more, learning more,
24:37
it starts to put things into perspective.
24:39
You start to understand that, you know, I saw someone in the
24:42
chat talking about Lambos. It's not about the Lambos.
24:44
It's about preserving wealth, preserving the value that you
24:48
put into the world and the energy that you put into the
24:50
world is now harnessed in Bitcoin.
24:52
And I think those are the things that no one even, you know, no
24:55
one's even thinking of that up front in the beginning, maybe
24:58
even sailors included, where, you know, as you start to
25:00
understand it more, it becomes a bigger part of your life where,
25:05
you know, you start to advocate for it more.
25:07
You start to evangelize Bitcoin a little bit more too.
25:09
And I think that's just, you know, a natural path that most
25:11
people are taking. And I think that's the best path
25:14
to take because it hardens you just like, you know, you know,
25:18
metal, no pun intended, but metals getting hardened along
25:20
the way where you just, you know, fully become an advocate
25:23
of it, believe in it, and you could share it.
25:25
And, you know, for me, it has been challenging to share
25:28
Bitcoin with, you know, friends and family in my life, most of
25:32
which are no coiners unless they're just really, really a
25:34
non at this point, which who knows, maybe they are.
25:37
Maybe my mom or dad's a non. I highly doubt it, though.
25:40
But it's just very hard to talk about Bitcoin with them.
25:42
And obviously, you know, mainstream media doesn't make
25:45
that any easier. You know, all the negative press
25:49
that Bitcoin gets, how it gets grouped into with all the other
25:51
old coins, You know, it's just kind of grouped together with
25:54
this. It has a negative connotation
25:57
towards it. People just aren't putting in
25:59
the time to understand what it is or they're just so confused
26:01
by what it could be. So for me, like, you know, you
26:04
know, it can't be Charlie Day explain what Bitcoin is because
26:07
it really does take you to that level.
26:09
Because you know, a lot of the questions that I had about the
26:11
world, you know, before Bitcoin have been answered by Bitcoin,
26:14
you know, money, money kind of controls the world and, and you
26:17
know, all the main players and pup masters involved with it.
26:21
But to talk about Bitcoin, you know, fully with these people
26:24
just doesn't work. It's I, I like to try to talk
26:27
about other things and tie in Bitcoin with it or, you know, no
26:30
pun intended again and plant some seeds with these people to
26:32
help them kind of understand, you know, what's happening to
26:35
your money, what inflation really means.
26:37
You know, put things into perspective that, you know, the
26:40
pizza pie metaphor, whatever you can to kind of get people, You
26:43
know, if, if, if you find out your wealth is being devalued on
26:49
a, on a yearly basis, and then, you know, it's going to become,
26:51
you know, 50% gone by the time you retire.
26:53
If you're, you know, in your 20s or 30s, it resonates with you
26:57
and you know, it's something that everyone should be
26:58
concerned with. So kind of leading with that
27:01
information, explaining to people, you know, your, your
27:04
wealth is melting, right? You know, maybe a couple
27:07
conversations later explain what Bitcoin is and how it solves
27:10
that problem. Totally agree.
27:13
Totally agree 100%. All right guys, hey, there's
27:15
1000 of you guys watching on all of our platforms right now.
27:18
So smash the like button. So you push us in the algo
27:21
hashtag for the algo so that more people get this signal.
27:24
But before we move on, we do have to plug our boys over at
27:29
Pleb Party Nashville. If you are going to the Bitcoin
27:32
conference in Nashville on July 25th through the 28th, make sure
27:37
you get to the Pleb Party on the Thursday before the event
27:41
happens. July 25th.
27:42
This is going to be the my, I, I.
27:44
I don't want to say it's going to be the party, but I think it
27:47
might be the party for Bitcoin Nashville.
27:49
All your friends are going to be there.
27:50
I think most of the big names in Bitcoin are going to be there.
27:53
It's going to be all 12 hour day of drinking and eating and
27:57
partying with your favorite Bitcoiners.
27:59
The whole Simply Bitcoin team will be there guys.
28:02
And from what I remember, there's 12 tickets left at the
28:05
$212.00 price point. The price is going to increase.
28:08
So you don't want to be sitting there on Thursday when you come
28:10
into Nashville and being like, where are all my friends at?
28:12
Your friends are going to be at the pleb party in Nashville.
28:17
So on that note, let's get into the news so you guys get to
28:20
exactly why you're here on the Daily News.
28:27
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the show notes below to learn more.
29:24
Again, guys, don't think about taking your Bitcoin off in
29:26
exchange. This is like literally the most
29:28
important thing to be doing is taking your Bitcoin off in
29:31
exchange. I don't care how you buy your
29:33
Bitcoin, just make sure you take it off in exchange.
29:36
And I'm convinced that the passport by Foundation paired
29:40
with the Envoy might be one of the sleekest, easiest ways to
29:43
secure your cold storage. So on that and.
29:47
And then Octi afterwards, you got to take your, your stamp
29:49
seed and back it up, you know, back it up on your stamp seed,
29:52
you know, use your foundation device, back it up on steel.
29:55
You don't want to lose that in case the device freaks out.
29:57
Everything works here in in cahoots.
30:00
You you make sure you get yourself a hardware wallet.
30:03
You make sure your seed stamped in some titanium.
30:06
This is the way you you buy all Bitcoin.
30:08
Well, there's a message to the madness, boys and girls.
30:11
Not this. A lot of the hardware wallets
30:12
come with this. This is bad.
30:13
This will get you rugged right you want to stamp it into the
30:16
titanium nice and deep letters you know it's in there good and
30:20
here's a damaged version right you know house fires corrosion
30:23
water don't get rugged right just.
30:26
Don't get. Rugged.
30:27
This is better than. But I'm glad James has shown us
30:30
his seed, so I'm going to sweep that, you know, if someone beats
30:32
me to it. That should be the new model.
30:36
Don't get rugged anyways. Anyways, you're here on the
30:40
topic of today's show. How much Bitcoin do you really
30:43
need? When I got into Bitcoin, it was
30:45
roughly around $10,000. So the, you know, the
30:48
traditional OG advice was like at least get yourself one
30:52
Bitcoin. So at the time that was roughly
30:55
around ten, $15,000. It went down to like 3K in the
30:59
bear market. So I think, I think it's still
31:03
pretty good to say that you should try your best to at least
31:06
get one Bitcoin, maybe 2.1 Bitcoin.
31:08
But the real advice is you're never going to stop stacking
31:11
Bitcoin. You're going to stack Bitcoin
31:12
forever. I I'm convinced that there's no
31:14
way, there's no point in time when I'm not going to be saving
31:17
in Bitcoin. What else am I going to save in,
31:19
in, in government debt IO us is paper money.
31:22
Like no, it just makes no sense. This is why I think that once
31:25
you become a bitcoiner, hence why I wanted to play the sailor
31:27
clip in the beginning. Once you become a bitcoiner,
31:29
it's a one way Rd. that you're never going to not save in
31:32
Bitcoin. And one of the things that I've
31:34
noticed, at least with my friends that aren't as obsessed
31:37
with Bitcoin is that they kind of flip flop.
31:39
They're not full maximalist yet. You know, they'll save a little
31:42
on Bitcoin and then they'll sell it for Fiat.
31:44
And they're kind of in this vicious cycle.
31:46
And I'm always telling them like, guys, you just need to
31:48
save, like just keep saving in Bitcoin, don't touch it.
31:51
For some reason, whenever I'm able to put my wealth into
31:55
Bitcoin, it almost feels like a black hole.
31:57
It's like it's there. I don't ever want to touch it.
31:59
I don't even think about the Bitcoin that I have.
32:02
I just know that it's secured. It's in my stamp sheet.
32:05
You know, I got it in my cold storage and this is the way.
32:08
But once you're new to Bitcoin, there's still that fundamental
32:13
thinking in your mind. It's like, how much Bitcoin do I
32:16
really need? And of course, like I said, the
32:18
goal should always be on one Bitcoin.
32:20
Pass on one Bitcoin for as long as you can within your
32:22
bloodline. And I think your ancestors will
32:25
be very happy and they'll look at you like the legend that you
32:28
are. But of course, you want to get
32:30
as much Bitcoin, and we've done shows on Simply Bitcoin before
32:33
that you guys can search if you're new to the channel, how
32:35
much Bitcoin do you need to be in the 1%, or rather, how much
32:38
Bitcoin do you need to be in the 1% of Bitcoin holders?
32:41
So we've been doing this topic a few different ways here, but I
32:45
wanted to tweak it a little bit and just show that you're not
32:49
bullish enough. I think a lot of us aren't as
32:53
bullish as we say we are because I know like the stats that we
32:57
have right now are going to be worth an incredible amount of of
33:00
value purchasing power in the future.
33:03
And so I wanted to touch on the idea of it might be less Bitcoin
33:07
than you think to actually have an incredible amount of wealth
33:11
going in, you know, 2-3 decades from now.
33:14
So I'm starting here with the glass node picture.
33:17
It's a it's a bar graph, but it's kind of breaking down the
33:20
different levels of hodlers out there.
33:23
And we have shrimp, which is less than one Bitcoin.
33:25
I think these numbers might might need to change a little
33:28
bit, but this is more of just giving you the caliber of how
33:32
much you're holding is and what you would be considered so that
33:34
we can talk about it a little later in this segment.
33:37
A crab, which is one in 10 Bitcoin.
33:40
An octopus, which is 10 to 50 and 50 Bitcoin.
33:43
A fish with A50 to 100A dolphin, 100 to 50.
33:45
A shark which is 500 to one KA whale, which is 1000 Bitcoin to
33:50
5000 Bitcoin and then the humpback whales out there over
33:54
5000 Bitcoin, which is just it's just incredible.
33:57
Imagine having imagine being Michael Saylor with 210,000 + a
34:01
Bitcoin. Only 1% of the total Bitcoin
34:03
supply is absolutely incredible. We can all hope to be sailors
34:06
one day. Probably can't catch up the
34:08
sailor, but hey, today's topic is on the stacking size of 21
34:14
million SATS or .21 Bitcoin. So I'm over here on looking to
34:18
bitcoin.com, which is basically like the free version of glass
34:21
node. So highly recommend you guys if
34:24
you want to look into the time chain, the numbers and a lot of
34:27
stuff going on, looking to bitcoin.com is a great resource.
34:30
And so I'm going to start first and foremost with addresses with
34:33
balances over 1,000,000 SAT or .01 BTC.
34:38
As you can see, this black line is the Bitcoin price and I don't
34:41
know what color this, I think it's orange.
34:43
This orange line is the total number of addresses throughout
34:47
about the history of Bitcoin. And you can see here I'm at the
34:50
very end. Yeah, see this one, they haven't
34:52
updated it since July, since a month ago.
34:55
So current price, or at least the price on this chart was
34:58
62,000. Oh wait, it just updated.
35:00
OK, It just updated 62,000. So this was yesterday and there
35:05
is 12,000,500 6602 addresses with more than 1,000,000 stats
35:13
or .01 BTC. So if you have a million sets,
35:16
you're already in kind of a small group of people what one
35:21
in 12.5 million, which I think is, is it's pretty good.
35:25
You know, that's that seems pretty solid and keep it moving.
35:28
Here we go to 10 million stats or .1 Bitcoin addresses with
35:32
balances over .1 Bitcoin. There is roughly 4.5 million or
35:39
yeah, 4.5 million addresses with over 10 million sets.
35:44
So moving forward, we're going to go to one Bitcoin over one
35:48
Bitcoin, which I think this should be the goal for every
35:51
single one of us. I really like the analogy of
35:54
owning one Bitcoin is akin to owning, you know, a city block
35:57
in Manhattan in the early 1800s. You want to hold on to that
36:01
coin, that valley for as long as possible.
36:03
As we say, you know, huddle forever.
36:05
It's going up forever. You need to as as the the really
36:09
bad meme of what huddle really spells.
36:11
Apparently people think it still means hold on for dear life, but
36:14
it's really just a misspelling of hold.
36:15
All you need to do with Bitcoin is hold it for a long term.
36:18
This is not a get quick rich or this is not a get rich quick
36:22
scheme. This is about preserving your
36:24
value for the long term. So if you can get to one
36:26
Bitcoin, highly recommend you do that.
36:28
But I'm going to be doing some math on how powerful 21 million
36:33
stats is or .21 Bitcoin. So here we go, the numbers at
36:36
least as of yesterday, Bitcoin price 62,000.
36:40
There is roughly a million addresses with one Bitcoin and
36:44
let's not forget that there is roughly around 60 million
36:48
millionaires in the world today and there's only ever going to
36:52
be 21 million bitcoins. So if you own one whole coin
36:55
today, I would argue that you're already richer than most of the
36:59
millionaires in the world because they have, they still
37:01
have to catch up and stack sats. And if you hold that coin,
37:04
you're not going to sell them that coin.
37:05
So I would argue that every millionaire in the world, first
37:09
and foremost, purely from mathematics, can't even get
37:12
themselves a whole coin, which it should start to blow your
37:15
mind once you start thinking of Bitcoin.
37:17
And even if they could, even if they could incentivize you to
37:20
sell that Bitcoin, which I don't think is possible, I would say
37:24
that they can't even get a whole coin ever.
37:26
So they're late to the party. Shouts out to every single one
37:29
of you guys that #frant ran Wall Street, Frant ran the
37:32
millionaires, Frant ran the quote UN quote, you know, smart
37:36
money out there. All the wealthy people that
37:37
don't own Bitcoin, I would argue you're already richer than them.
37:41
And the reason I wanted to flip this theme on the PED today is
37:46
to show you that I think holding the amount of Bitcoin you have
37:50
today will be an incredible amount of wealth moving forward.
37:53
So let's let's not forget that the point of this is to huddle
37:57
as much Bitcoin as possible. Don't stack shame in in the
38:01
chat. Any amount of statue hold today
38:03
is going to be an incredible amount of wealth.
38:05
And why do we think that? Well, I'm over here.
38:08
I got Crease's BTCAKA, Jesse Myers.
38:11
He does incredible research on Twitter, on his website.
38:14
And this is one of my favorite charts because I I think few
38:17
people really understand how much wealth there is.
38:20
What's the total wealth of all assets into the world?
38:23
And we've seen this increase over the last couple of years
38:27
and there's a, there's a couple different numbers that people
38:29
throw around as what is the total available asset market,
38:33
how much wealth is on planet Earth right now?
38:36
But we're going to use this number and I am, I'll even
38:39
change a little bit so you guys can get a better idea.
38:41
And also the idea like Bitcoin's not going to probably take all
38:45
of the, the share of all total wealth in the world.
38:48
It's not going to eventually be a $900 trillion market cap.
38:51
It's going to take a significant portion of this.
38:53
Or even, you know, depending on how bearish you are, it might
38:56
even just take a small portion of that.
38:58
But I'm going to do the math for you so you understand that even
39:00
if it takes a small portion of this 21 million sats, AKA .21
39:05
Bitcoin, the amount of Bitcoin you're holding today is going to
39:07
be an incredible amount of wealth moving forward.
39:09
So for the audio listeners, I got a chart here and it's
39:13
showing the global asset value, which is $900 trillion.
39:16
And there's $115 trillion in equities, there's $120 trillion
39:20
in in money and cash. Derivatives are actually this is
39:25
just cash, 120 trillion in cash, 300 trillion in bonds, 330
39:31
trillion in real estate. And then you can see up here top
39:34
left six trillion in cars and collectibles, 8 trillion in art
39:38
gold, roughly $12 trillion and Bitcoin we're hovering a little
39:43
above $1 trillion. So Bitcoin is, is, is a tiny
39:48
portion of the global asset market right now.
39:52
And I would argue that that means that Bitcoin has an
39:55
incredible amount of space to grow.
39:58
So while people may look at this and be like, oh, Bitcoin's tiny,
40:02
it doesn't even have a, a big portion of the global market
40:05
share. I would say that it's Infinity
40:08
divided by 12/21 million or 900 trillion / 21 million.
40:13
So that's the math we're going to be doing.
40:15
This is to show just how. Incredibly low the barrier of
40:19
entry is and remember when I got into Bitcoin, it was one Bitcoin
40:23
for $10,000 and doing the math this morning, it really kind of
40:28
opened my eyes to the idea of .21 Bitcoin is roughly around
40:32
the price of a whole Bitcoin when I got into Bitcoin in 2017.
40:36
So doing some maths here, you know, quick maths, I'm, I'm not
40:39
a math guy, but quick maths here.
40:41
The goal is get to 21 million SAT or .21 Bitcoin, which today
40:47
roughly at the SDK price was $12,600.
40:51
So for $12,600 you can get 21 million sets or .21 Bitcoin.
40:57
And again we're going to do this math so that we can show you the
41:00
potentials of where Bitcoin is going.
41:02
So 21,000,000 / .21 = 100 million so or 1100 million of
41:10
the total Bitcoin supply. And this is one of my favorite
41:12
frameworks to think about Bitcoin.
41:14
You know, if you get one coin in Bitcoin, it's one of 21 million
41:19
of the total Bitcoin supply. You know, you get .21, it's 1100
41:24
million of the total Bitcoin supply.
41:25
So I like to think of this idea, this framework when it when it
41:29
comes to how much SATS you hold today, how much Bitcoin you hold
41:32
today, because it's not about the dollar amount, it's about
41:35
your total share of the total amount of bitcoins that will
41:38
ever be created. And we can argue that there
41:40
might be about 5 million bitcoins that are lost.
41:42
So it's it's significantly less, but we're going to make this
41:45
simple and use the 21 million Bitcoin number as a map.
41:49
So total assets divided by 100 million, it would be 900
41:53
trillion / 100 million would mean that the 20, the 21 million
41:58
sats are .21 Bitcoin. If Bitcoin were to devour the
42:02
entire entire global asset market would equal a $9 million
42:09
price for 21 million sets. So .21.
42:12
If it took the entire Bitcoin or entitled global asset market, it
42:17
would be $9 million for .21 Bitcoin.
42:21
Who knows how long that's going to be, but just putting your
42:24
this math and this framework in your brain, it really starts to
42:27
blow your mind. And using that $900 trillion
42:30
number for global market assets, if it took half of the market,
42:34
that would mean that 21 million sats or .21 Bitcoin would equal
42:38
$4.5 million. If it took 10% of the $900
42:43
trillion total global asset market, that would mean that 21
42:47
million stats .21 Bitcoin would equal a nine $900,000.
42:51
So does a trade from $12,000 to 9 million or even $12,000 to
42:58
900,000 sound like a good trade to you?
43:01
Sounds like an incredible trade to me.
43:03
And of course, the idea is you're never gonna probably
43:05
stop. You don't just hit 21 million
43:06
stats or .21 Bitcoin and be like, I'm never gonna buy any
43:09
more Bitcoin ever again. I think this is the idea of like
43:12
the stats that you're holding today is going to be an
43:14
incredible amount of wealth moving forward.
43:16
But who knows how long this is going to take?
43:18
We have no clue how long this is going to take.
43:20
Will it take decades? Will we even be here for that?
43:23
I don't know. All I know is Infinity divided
43:26
by 21 million. It's going up forever.
43:28
But we know everything is trending to zero against Bitcoin
43:32
and it's not going away as Sailor likes to use the
43:34
framework up. It's either Bitcoin is either
43:37
worth 0 or it's going to suck up a significant amount of the
43:41
total global asset market. You can make your bets.
43:44
All of us Bitcoins have made our bets.
43:46
But one thing's for sure, Bitcoin is not going away.
43:50
And this other chart here just kind of breaking down the
43:52
different Bitcoin ownership distribution that I don't have
43:55
to go through all this because we're talking about you as an
43:57
individual. But you can see how much Bitcoin
44:00
is distributed across the entire Bitcoin ecosystem from minors,
44:04
individuals, businesses, ETFs, governments, lost Bitcoin, the
44:07
amount of coins that Satoshi allegedly holds and then the
44:11
remaining to be mine Bitcoin, which is roughly around, you
44:14
know, I, I guess I could have pulled it up like 1.3 million
44:17
Bitcoin. But remember, the idea is think
44:21
of the framework of the amount of stats that you own in the
44:24
context of the total Bitcoin market in general.
44:28
And so moving forward, you know, just some little Psas, some
44:34
context here. The important thing is how many
44:36
sats are under your control, not the dollar amount.
44:38
This is one of the things that you have to really flip your
44:42
mental operating system when it comes to becoming a Bitcoiner.
44:45
A lot of times once you go down the rabbit hole long enough, it
44:47
kind of happens inherently. But for your new entrance, I
44:50
would start to shift that now. Change your mental operation,
44:54
operating system, change your mental relationship with money
44:57
and think in Bitcoin, think in sats, don't think in terms of
45:00
Fiat. Yes, you know, we talked about
45:02
the Bitcoin price in Fiat terms, the purchasing power of your
45:05
Bitcoin constantly, not only on this show but in general,
45:08
because I really do believe that the Bitcoin price is a real time
45:11
metric of people's understanding of Bitcoin.
45:14
But it's really about the purchasing power.
45:16
And once you start thinking in Bitcoin, once you start pricing
45:18
in SAT's and you think of your net worth as the amount of
45:22
Bitcoin under your control, and that's the only number that
45:24
really matters, your thinking starts to shift and you're like,
45:27
OK, the dollar amount doesn't matter, especially when they're
45:30
constantly debasing the dollar amount, which they're just
45:33
making more dollars. Like the dollar amount
45:34
eventually is going to get into hyperinflation terms and it
45:37
won't even matter. It's it's about the amount of
45:40
things you can get for a single Bitcoin.
45:43
And of course, you know, I'm, it's Opti here, so I got to
45:46
throw some memes in here for you guys.
45:48
Of course, the classic it's Infinity divided by 21 million.
45:52
Yes, I'm using the math of $900 trillion / 21 million.
45:56
But once you understand how the Fiat system works, they can
45:59
print dollars into Infinity. There is no end to the dollars
46:02
as long as the system keeps on going.
46:04
As long as you trust in the system, they will print dollars
46:07
into oblivion. So that's why the meme of
46:10
Infinity divided by 21 million, the hard cap of Bitcoin compared
46:14
to the infinite dollars that they can literally spin up and
46:17
print out. So moving forward, this one's a
46:20
little more updated. Wait, where'd it go?
46:22
This updated meme for you know, you guys out there, we we got a
46:26
a staunch meme supporters in the chat.
46:28
So I got to drop the memes in here to to appease the wolves in
46:32
the chat. So under one million sets, or
46:35
rather from one million sets to dust and no sets.
46:38
You're a debt slave, sorry to inform you if you haven't got
46:42
off 0 in terms of owning Bitcoin, you are still in the
46:47
debt Fiat system. You are a debt slave.
46:49
Wake up Neo, they have you. You need to start saving in
46:53
Bitcoin and then the Bitcoin club range, which is roughly,
46:56
you know, 25,000,000 stats or .25 Bitcoin and 1,000,000 stats
47:00
of .01. Then there's a Bitcoin soldier
47:03
from .25 to half a Bitcoin, Bitcoin mercenary from half a
47:07
Bitcoin to one Bitcoin. The Bitcoin yield man from 1:00
47:10
Bitcoin to three Bitcoin. The Bitcoin night from three
47:12
Bitcoin to 10 Bitcoin and the Bitcoin Baron 10 to roughly
47:16
under 21 Bitcoin and the Bitcoin Lord from 10 to 21.
47:21
Wait, that one's off. I'm doing it last.
47:24
Bitcoin king more than 21 Bitcoin.
47:27
So who will you be for your bloodline?
47:29
Who will you be for your ancestors?
47:31
Will you be a king? Who knows?
47:33
But I really like this meme that Alan Watts just dropped Alan B
47:36
Watts on Twitter, and this is what it's all about.
47:39
And this is the point of today's bit.
47:42
Not only to explain to you that you don't need to hold as much
47:47
Bitcoin as you want. Yes, you want to hold as much
47:50
Bitcoin as possible. This is a game of Hungry Hippo.
47:52
Own as many stats as humanly possible.
47:55
Price your life in Bitcoin, save in Bitcoin as much as you can.
47:59
Do you really need to go buy all this stuff that you know to
48:02
impress the Joneses out there? It's like no, once you start to
48:05
think in Bitcoin, once you start to think in a limited hard cap
48:08
money and your portion of that, you start to realize a lot of
48:12
things that you're buying you probably don't need.
48:14
So this is the point of this last meme and I'm going to pass
48:17
it on to Chris and James. It's goes by Alan B Watson
48:20
Unproductive man will by necessity leak SAT overtime, a
48:24
productive man will not only not leak sats but increase the size
48:28
of his stack. Choose wisely.
48:30
Hashtag Bitcoin. So hopefully I made my point
48:34
today that I, I fundamentally believe that .21 Bitcoin on a
48:40
long enough time frame, maybe it's 10 years, maybe it's you
48:44
passing it on to your great, great grandchildren will be an
48:46
incredible amount of wealth. And if you're doing the
48:49
opportunity cost of the price of 21 million SAT or .21 Bitcoin
48:53
today versus it compared to the total global asset market, I
48:59
think it's a good trade. I think you guys should go out
49:02
there. If you have $12,000 sitting
49:04
around, which probably more than most people have, you should
49:07
definitely smash buy Bitcoin today.
49:10
But if you don't have 21 million sets and that should be your
49:13
goal. I think as a Bitcoiner, you kind
49:16
of go through this levels where like first you want to get a
49:18
million sets, then you want to get 10 million sets, then 21
49:21
million sets, then half a coin, then a full coin, and then you
49:24
want to be one of the legends that owns multiple coins.
49:27
And we all aspire to be Michael Saylor out there and own 1% of
49:31
the total Bitcoin supply. But we probably can't get there.
49:34
But hopefully I explained for you guys just the power of
49:38
stacking Bitcoin and where this might go.
49:40
Anyways, I ranted way too long. Chris, what's your thoughts on
49:43
this topic? Hit him with the horn.
49:47
No Opti. Great rant.
49:49
I I want to cook. So I know you mentioned CKA good
49:52
friend of mine and Opti's. He has this mean that he says 37
49:56
stats is generational wealth and I'm about to break this down for
49:59
you. So Opti did a good job breaking
50:00
down one Bitcoin .21 Bitcoin. I'm going to try to break down
50:05
260 3000 sats. So that is if you were to divide
50:10
the entire Bitcoin network, so 21 million Bitcoin divided by
50:14
the dominant denomination of sats by 8 billion people.
50:17
I know that the number is about 7.7, but to make numbers easier,
50:21
let's just say there's 8 billion people in the world.
50:22
If you were to equally divide the Bitcoin network and
50:25
obviously sats have been lost. Satoshi, you know, has about a
50:27
million coins himself, that would be about 263,000 sats per
50:31
person globally distributed equally among ever in the world.
50:34
Obviously we're that's not the case.
50:36
Some people have more, people have less.
50:37
Obviously we're all trying to keep up with Sailor and Satoshi,
50:41
but 263,000 sacks is the equivalent of 160 US cut bucks.
50:47
So $160.00 in US currency will currently get you 263,000 sacks.
50:53
But breaking down the meme further.
50:54
So obviously CK has a meme 37 sats of generational wealth.
50:58
He took that number because when he got into Bitcoin, it was 2016
51:01
in 100 years from instead of 2016 to 2116.
51:04
So 100 years forward, the block reward for Bitcoin will be 37
51:10
sats. So that means that the global
51:12
Bitcoin network will be competing every block to get a
51:14
subsidy of 37 sats along with obviously transaction fees.
51:18
But the subsidy itself will be 37 sats.
51:20
So they're competing globally for 37 sats.
51:22
And you don't know what basically the the, the, the
51:25
transaction fees will be at that time.
51:27
We're assuming much higher than they are currently today, but
51:29
the subsidy itself will be 37. So when you think about it,
51:32
there is 52,000 blocks per year if there's 210,000 blocks per
51:37
four year epoch or thereabout. So that's assuming that there's
51:41
52,000 blocks per year. If you had 1% of the global hash
51:45
rate, which would be a lot of the global hash rate at the
51:47
time, that means that you're expecting to win 525 blocks per
51:53
year. And that is to cover the
51:54
operations of all your mining, your electricity, paying out
51:57
your staff and everything. That means that if you're to
51:59
multiply the 37 stats just from the subsidy, that's the only
52:02
thing that you can guarantee because you don't know what the
52:04
transaction fees are going to be times 525 blocks for the year
52:08
for the 1% of the hash rate. That means that your total
52:10
revenue, which is subsidy alone would be 19,000 425 sets.
52:15
So think about that. You can get 10 times what the
52:18
subsidy will be today if you had 1% of the hash rate for 160
52:23
bucks. Like think about that.
52:24
That blows your mind. You're going to have 10 times
52:26
more revenue than can be guaranteed by having 1% of the
52:29
global hash rate in 100 years from now.
52:31
Like that's really hard to fathom when you think, if we
52:33
think the Bitcoin network's going to grow and continue to
52:35
expand, obviously we're expecting the, well, we know the
52:38
exact block that the the 28th epoch or when 37 sats will be is
52:43
block 5,670,000. If you're assuming, you know,
52:46
ever, we know by code 210,000 blocks is every epoch.
52:50
And so obviously we start at 502512.256 point or 12.56 point
52:56
25 and now we're in the epoch of 3.125 Bitcoin.
52:59
So that's just to say, like obviously CK was saying 37 sats
53:03
is generational wealth because 1% of the global network will be
53:06
competing to try and or you know, the, the global Bitcoin
53:09
network will be competing for 37 SATS for the epoch 28 at, at
53:13
block 5,670,000. So just to put that in
53:17
perspective, you know, if 160 U.S. dollars will get you a
53:21
huge, huge, huge, huge chunk of Bitcoin.
53:24
So I know that's to not stack shame anyone, Hopefully everyone
53:27
can, you know, save enough $160 to stack.
53:30
What would be the equivalent if you were to equally divide out
53:32
Bitcoin? That's 263,000 SATS today.
53:34
Obviously we aspire to get a million sacks, you know, 10
53:38
million sacks .221 million sacks, a whole Bitcoin if you
53:41
can make it. But yeah, I think I hope that my
53:44
great grandchildren or, you know, great, great grandkids
53:47
will be like, what are, what are U.S. dollars or what's dollars?
53:49
Just like we make fun of the Zimbabwe dollar, the $100
53:53
trillion note that I have here framed away to remember Fiat is
53:56
shit. Bitcoin is what you want.
53:58
You want the hardest money in the world, and I'll leave it at
54:01
that. Yeah, look, I I got a worthless,
54:04
you know, Blvd. here. This is where the dollar is
54:07
going to eventually get to. But yeah, I mean, Chris, This is
54:11
why. This is why I tell you guys,
54:12
Chris is the right side of the bell curve version of Opti
54:15
'cause that was great. Really love the math there.
54:18
And she hasn't a CK. It always reminds me like no
54:21
one's bullish enough. Like I get bullet hearted.
54:24
Like I am, I'm perpetually bullet hearted.
54:26
And even when I hear those numbers, I'm still like, man,
54:29
that is incredible. Like I imagine if we get there
54:33
and it's like, no, we are going there.
54:34
We can't even fathom how big this is going to be.
54:38
Shout out to Nick Hoffman, me and Octi's buddy over at Bitcoin
54:41
Magazine. You stack sats for your last
54:43
name, not for your first name, so that, you know, 100 years.
54:45
We may not be here, James, Octi and I, unless we have really,
54:48
yeah, great ways of improving health and making our lives live
54:51
that much longer. But if anything, I hope my great
54:53
great grandkids will be around and remember our My last name or
54:56
our last name. Totally agree, Totally agree.
54:58
All right, James, what's your thoughts on this topic?
55:01
Maybe what what Chris said, what I said or if you want to take
55:04
another route, what's your thoughts on none of us are
55:07
bullish enough. Yeah, no, 100% for for anyone
55:10
who's looking at that medium and might be, you know, on the, you
55:12
know, a Bitcoin slave or a Bitcoin plebe and feeling, you
55:15
know, insecure about their stack size.
55:18
If they don't have enough, you know, if your time preference is
55:21
long enough and you have, you know, three to five or even, you
55:24
know, more decades out in front of you.
55:27
We are still so early. And you know, any, any amount of
55:30
Bitcoin that you could gobble up today, you know, kind of like
55:32
Pac-Man gobbling up as much as you can is, is smart and very
55:36
important to do because we are still so early.
55:37
When you zoom out and see what the block rewards are going to
55:40
be, you know, 20-30 years from now, what we're getting now is
55:44
complete discount. And you know, based on the way
55:47
the price is today, you know, people might think that we're,
55:51
you know, they're not early enough, but we are still
55:52
completely early to this. You know, most people that don't
55:55
understand Bitcoin or don't even know what it is still, you know,
55:59
about like 95 plus percent of the people in my life still have
56:02
no idea what that is. And I live in a very populated
56:05
area. So, you know, having point to
56:08
one Bitcoin, it is a great goal to have.
56:10
And like Opti was saying, you want to continue to still stack
56:12
after that. That's why buying every week or
56:14
dollar cost averaging is so important.
56:17
You know, ultimately you want to my take is that you want to have
56:21
more Bitcoin that you have Fiat in savings just because that
56:24
money is becoming melted. But if you obviously you're at a
56:27
point in your life where you need to use that savings for
56:28
other things because inflation is so rampant, you know, that's
56:32
a that's a whole you got to kind of dig yourself out.
56:34
Chipping away at at the available Bitcoin supply, which
56:38
is shrinking constantly is one of the best things you'd be
56:40
doing. You want to be dollar cost
56:42
averaging and buying, you know, as much of it as you possibly
56:44
can. And you know, if Bitcoin were to
56:48
get to the point, well, like it's like up to 740.
56:51
So like having one full Bitcoin is equivalent to having a city
56:55
street in Manhattan in the 1800s.
56:58
Well, maybe like having 2.1 Bitcoin right now is equivalent
57:00
to having a quarter of that street, you know, a couple
57:02
storefronts, apartments, bodegas, like that'd be a great
57:05
thing to have. That's always building up and
57:07
always going to become more valuable.
57:08
So, you know, that's a great goal for most people that have
57:11
that are just starting out and for anyone that's way out in
57:13
front of that, obviously we're all doing the same thing, right?
57:16
It's we're continuing to stack almost like we're collecting
57:19
Bitcoin as much as we can. You know, we want to reach a
57:22
point where we could use these this Bitcoin for other things
57:25
or, you know, hyperinflation hits.
57:26
We might have no choice but to use this Bitcoin for other
57:29
things. You know, we hit $9 million a
57:31
coin, we're probably going to be using that Bitcoin to buy things
57:35
just because of the gains alone or just because the Bitcoin is
57:39
the new unit of account that merchants are using, preferred
57:42
unit of account. So, you know, having, you know,
57:46
obviously you want to have enough to collect and just kind
57:48
of hold as a store value for long term for generational
57:51
wealth that you're going to be passing down, but you also want
57:53
to keep stacking because you might have to use this one day
57:56
to spend. So, you know, again, for anyone
57:58
looking at those charts and feeling like they're closer to
58:00
the bottom, you're probably still way ahead.
58:03
Most people, because you're listening to this podcast here
58:06
and you know, you want to be able to, you know, gobble up
58:09
like Pac-Man as much as you possibly can.
58:11
And most importantly, that money's not going to be safe if
58:14
you're keeping it on the exchange.
58:15
So as your dollar cost averaging, like what I
58:17
personally like to do is maybe every month or so or every
58:20
million SATS, I'll be moving stuff into cold storage.
58:24
Obviously, you want to stamp your seed into, you know, a
58:28
piece of metal, you want to hold your private keys and you know,
58:31
pass that down through the generations.
58:32
That's your, that's all the energy and value that you put
58:35
into the world. So, you know, it's another kind
58:39
of point to make there is that you're putting energy into the
58:42
world that's becoming debased if it's held in Fiat.
58:45
So you want to convert that to Bitcoin as soon as you possibly
58:47
can so it grows. So it, you know, it's not going
58:50
to become debased. There's 21 million Bitcoin only
58:53
probably actually less than that due to, you know, bitcoins that
58:55
were lost or they'd never be sold.
58:57
So it's the idea is you put energy into the world, you
58:59
provide value to the world, you get paid in Fiat most likely
59:03
with that energy and value. It erodes away if you keep it in
59:07
your savings. So transfer it into Bitcoin as
59:09
soon as you can. Totally agree, couldn't agree
59:13
more. And really the meme you were
59:14
saying, I think most people fundamentally missed a point
59:20
here. It's like this is a land grab in
59:22
cyberspace, like this is a digital land grab right now.
59:26
And you want to not only get your portion, but hold on to
59:29
your portion for the long term. And that's the goal of being a
59:32
bitcoiner is what James was just saying, you know, hold on to
59:35
this wealth for a long time. Get your portion today.
59:38
I like to say play hungry Hippo, but play digital Pac-Man might
59:41
be a better one. I don't know.
59:43
They're they're both Pac-Man might be better if it's actually
59:45
coins. It's actually coins.
59:47
Anyways, let's let's plug our boys over at the orange Pill
59:51
app. Guys stack friends who stacks
59:53
stats. As you can tell from today's bit
59:55
in the news, Bitcoiners are gonna have an extreme amount of
59:59
wealth moving forward. And you wanna not only usher in
1:00:01
that wealth the correct way, but you wanna surround yourself with
1:00:05
like minded individuals. So if you're the crazy bitcoiner
1:00:08
today in your community, you have no Bitcoin friends other
1:00:10
than those on Twitter. Get on the orange Pill app, see
1:00:13
if there's people around you. Maybe create a Bitcoin meet up.
1:00:16
Go to a Bitcoin meet up. You want to interact with
1:00:19
Bitcoiners in meet space because it's that much better.
1:00:22
You need to build a community, build that circular community,
1:00:26
build your local community around you of like minded
1:00:28
individuals. Because I don't know if you've
1:00:30
noticed, but things are getting kind of crazy out there and it's
1:00:34
getting a little harder to become a free thinker or to
1:00:36
remain a free thinker in today's world.
1:00:38
So you need to make sure you are surrounded by people that get
1:00:41
it. Stack friends who stack stats.
1:00:43
On that note, let's talk with James about stamp Seed and a
1:00:47
little bit of freedom. We have a little freedom talk
1:00:49
today, the daily culture before before we do that though, I I
1:01:01
completely almost blank on this guy's go to Kaboom Racks.
1:01:06
Kaboom Racks the best place to buy, sell and host your mining
1:01:11
equipment. Get in touch with the Kaboom
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give you white glove service. They will recommend whether you
1:01:19
should, you know, be stacking sets or get into the mining
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game, whether you should set up a mining rig in your garage,
1:01:25
whether you have a wife, whether she's going to like it.
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Maybe maybe they can make it silent so that you don't get
1:01:29
absolutely wrecked out there by your wife because she's like why
1:01:32
are you spending so much money on all of this loud heat putting
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devices in my living room What's going on here anyways?
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They have an instant hosting plan right now there's a special
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1:01:56
get in touch with the Kaboom racks team and they will set you
1:01:59
on the correct course. So on that note, James, let's
1:02:04
before, as you guys can tell, you know, James is the creator
1:02:07
of the stamp seed. We plugged in a few times on
1:02:09
today's show. But before we talk about some of
1:02:11
the new projects you're you're about to release.
1:02:14
So new projects that just came out this the stuff you're going
1:02:17
to do at the conferences. It is 4th of July tomorrow for
1:02:22
US Americans, very important holiday for us.
1:02:25
And there's a lot of parallels in regards to what 4th of July
1:02:29
means and what Bitcoin means. And you were talking about
1:02:32
before the show that you'd like to do a little plug on that one.
1:02:34
So James Platform's all yours. Why is Bitcoin and 4th of July
1:02:40
such an important thing? OK, yes.
1:02:43
So, you know, obviously 4th of July is tomorrow.
1:02:46
So we're right on the cusp of it.
1:02:48
You know, we're celebrating the American Revolution and the
1:02:50
freedoms that we earned through that revolution.
1:02:52
And I'd be remiss if we didn't connect that with the peaceful
1:02:55
Bitcoin revolution because Bitcoin is freedom, right?
1:02:58
Like having sound money is the ultimate freedom that we have
1:03:00
this day and age. So, you know, mainly having the
1:03:04
ability to own, use our own money without a third party
1:03:08
getting involved in telling us what we can do, what we can't
1:03:10
do, when we can't spend, when we can't spend for how much that
1:03:13
is. That is like kind of like the
1:03:14
overarching ultimate freedom here.
1:03:16
And you know, obviously first, which most everyone knows here,
1:03:19
we have to trade that dirty Fiat for pure Sats as soon as
1:03:21
possible. And then, you know, if you, you
1:03:24
know, to be free, you have to self custody that Bitcoin on a
1:03:27
hardware wall. If you're not doing that, you're
1:03:29
pretty much going against, you know, you only done about half
1:03:31
the work at that point. So self custody, owning that
1:03:34
money is the ultimate freedom. You have full possession of it.
1:03:37
Nobody else does. Your 12 to 24 words, you know,
1:03:40
stamped into a titanium plate or a steel plate or memorized,
1:03:44
which you know, I personally don't recommend or, you know,
1:03:48
that's literally your keys to your future.
1:03:49
Your generational wealth gets held there.
1:03:51
So, you know, there's no bank that's saying, oh, you can't
1:03:54
spend this much. Oh, you can't travel with this
1:03:57
much, you know, ultimate freedom right there.
1:03:59
You could also run your own node, right?
1:04:01
Anyone could have their own version of the blockchain, run
1:04:04
their own node, confirm their transactions are real, which is
1:04:07
an ultimate freedom. Because with the bank, you
1:04:09
can't, you don't have, you know, a copy of the entire Ledger.
1:04:12
You can't confirm that you know, transactions aren't being double
1:04:14
spent. You know, you literally can have
1:04:17
a copy of that note and anybody could do it and it only
1:04:19
strengthens the network. Of course, as an added benefit
1:04:22
also, you could you could literally mine your own Bitcoin.
1:04:25
You could earn your own KYC SAT's by joining the mining pool
1:04:28
or leveling up even further than that, but you could mine your
1:04:31
own Bitcoin versus you know what, what is anti freedom,
1:04:34
which is the Federal Reserve literally printing currency out
1:04:37
of thin air, debasing the value that you already have, you know,
1:04:41
adding zeros, not even printing sometimes just adding zeros to
1:04:44
the balance sheets of central banks.
1:04:46
They're literally printing more, which is eroding what you have
1:04:49
versus what you could do on the other side with bitcoins.
1:04:51
Literally mine your own have your own case KYC Bitcoin that's
1:04:55
based on that fixed 21 million cap supply and you have a direct
1:04:58
connection with the with you know, not the not the money
1:05:02
printer, but the Bitcoin faucet, let's say.
1:05:04
So that that's kind of like some top level things.
1:05:06
And then like overarching like there's some parallels from the
1:05:09
American Revolution that connect with some, you know, some
1:05:13
principles of the peaceful Bitcoin revolution, right,
1:05:15
There's some parallels, but there's principles there.
1:05:17
So just really quick into what those are.
1:05:20
You have natural rights, the rule of law, popular
1:05:25
sovereignty, which is a big one, and individualism.
1:05:27
And all four of those things have connections with Bitcoin.
1:05:31
And it's pretty much what us here in the states, our country
1:05:33
was formed on is those principles and how they relate
1:05:36
to Bitcoin is the first being natural rights.
1:05:39
Like anybody has access to Bitcoin, anyone could opt into
1:05:43
the network. You know, it's it's global.
1:05:45
You could be in a third world country without a proper banking
1:05:49
system in place. And if you have an Internet
1:05:51
connection, you could literally tap into the Bitcoin network and
1:05:55
the value you're providing, say you're making, I don't know,
1:05:57
necklaces out of seashells in a third world country.
1:06:00
You could sell that not just locally, but to the entire world
1:06:03
if you're tapped into the Bitcoin network.
1:06:05
So people who previously didn't have access to these things
1:06:09
because, you know, just just based on where they were living,
1:06:11
geographic unluckiness, I guess they now have the ability to opt
1:06:17
into the Bitcoin network and there's nothing really stopping
1:06:19
them from doing that other than probably an Internet connection.
1:06:23
So it's, it's natural to everybody.
1:06:25
You know, there's no gatekeeper to entering into Bitcoin.
1:06:28
So it's a natural, right. When you also look at the rule
1:06:31
of law, right, Bitcoin is nobody is above the law of Bitcoin.
1:06:36
You know, the key critical components of Bitcoin are going
1:06:40
to remain unchanged. 21 million hard caps supply that's not
1:06:43
going to be altered or changed over time.
1:06:45
Obviously there are certain improvements that have to happen
1:06:48
to Bitcoin like you know, bit 39 or lightning, things that just
1:06:52
have to happen that are all based on consensus.
1:06:55
You know, it's something that everybody's agreeing on, but if
1:06:56
people don't agree on something, you know, could fork off or just
1:07:00
dies and, you know, doesn't become something that's adopted
1:07:02
to the Bitcoin blockchain. But the key components, 21
1:07:06
million hard cap supply, the difficulty adjustment, how many
1:07:09
blocks are being mined a year, that stuff is not changing.
1:07:12
Nobody's above the law of Bitcoin.
1:07:15
So you could sleep at night knowing that you know your stats
1:07:17
are not going to come debased. I totally agree, James, But
1:07:22
yeah, keep going, keep going. Yeah, I got two more.
1:07:24
Third one, popular sovereignty. The sovereign power is not held
1:07:27
by the central bank, but it's held by the holders.
1:07:29
You know, nobody can, you know, get in there and, you know, take
1:07:33
away your Bitcoin. You hold the own product into
1:07:35
your Bitcoin. So if you want to be a sovereign
1:07:36
individual, you need sound sovereign money to do that, and
1:07:39
with Bitcoin you can't. And then individualism is the
1:07:43
last one and that's like the biggest one for me.
1:07:45
And that's, you know, you're independent and self reliant.
1:07:48
There's no king, there's no central bank getting in your way
1:07:50
of you and your wealth. It's literally your keys, your
1:07:54
Bitcoin. And then lastly, your legacy
1:07:56
could all be held literally in 12 to 24 words.
1:08:00
So those four things are very important if you want to truly
1:08:02
be a free sovereign individual. They relate to the American
1:08:06
Revolution, obviously, and then they relate to Bitcoin.
1:08:08
So yeah, I just want to kind of share that with you guys and,
1:08:10
you know, point out a couple things there.
1:08:12
And, you know, this 4th of July, I'll be celebrating.
1:08:15
Obviously. I'm also going to be stamping.
1:08:17
Well, I'm going to be loading up a new hardware wallet.
1:08:19
I actually got a nice new Q1 that I was gifted from Ben and
1:08:25
I'm going to be snapping my seed with titanium, moving my funds
1:08:28
over just because I, you know, I want a want a more secure wallet
1:08:32
and I want a new set of seed words.
1:08:33
And I'm going to do that on the 4th of July, right?
1:08:35
Like I can't do that at a bank. I can't go to a bank on the 4th
1:08:38
of July. They're closed.
1:08:40
You know, they're, they're literally not open.
1:08:42
You can't even transact my funds that day.
1:08:45
So, you know, I'll do it at my at, at you know, my own house,
1:08:49
Casa de Caruso. I will move my funds over and do
1:08:52
what I want to do with them on a day that you can't even go to a
1:08:54
bank and, you know, say hello to, you know, the person that's
1:08:57
holding all of your money. You know, maybe maybe I'll even,
1:09:00
you know, stand my seed and try to connect it with the banging
1:09:03
of the fireworks. This way, you know, my neighbors
1:09:05
aren't hearing my hammer going off.
1:09:07
No one's knowing what's going on.
1:09:08
Like like Andy Dufrane and Shawshank Redemption breaking
1:09:12
out, you know, connecting with the lightning.
1:09:14
So you know, it's, it's the ultimate freedom though, right?
1:09:16
Like what a what a way to truly celebrate it, right.
1:09:19
Moving those funds over in my nice new Q1 there.
1:09:22
But yeah, and you know, that's that connection there.
1:09:25
So mainly self custody, right? Like holding your own keys,
1:09:29
holding your own Bitcoin, having your 12 to 24 words in titanium
1:09:33
is literally the ultimate freedom, the thing that you
1:09:36
can't do anywhere else. You could travel anywhere with
1:09:38
this or you can memorize it. You know, you can sleep like a
1:09:42
baby at night knowing that it's yours and no one can interfere
1:09:44
with it. You can spend over 10,000
1:09:46
without anyone saying no. You could travel with it without
1:09:49
anybody saying no and ultimately best of all, right, it's not
1:09:52
becoming debased by the people that are in control of it
1:09:55
because they're not printing anymore.
1:09:56
So you know now we'll talk a little bit about stamps sheet.
1:09:59
Obviously you have it up there. That's the entire kit that you
1:10:01
guys see you have your obviously the hammer's pretty bad ass.
1:10:05
I'm holding it now. People love this thing.
1:10:08
It's got like a don't mind if it's shown on most of the
1:10:12
Bitcoin space, but you basically, you know, use that
1:10:14
hammer to stamp metal stamps that look like little, little
1:10:18
nails. You can see them on the top of
1:10:20
that kit right there. And you're just hammering your
1:10:21
words, right. And yeah, let's look at that
1:10:23
video for a second. And you're just hammering them
1:10:25
in. And it's titanium.
1:10:27
So it's virtually indestructible.
1:10:29
It's got a higher melting point than steel.
1:10:31
It's not corrosive. It'll never rust.
1:10:33
So if you have it in a damp environment or your basement or
1:10:36
your backpacking with it, you know, it's not going to, you
1:10:39
know, corrode or flood away. You know, it's not, you know,
1:10:42
dampness is not going to affect it.
1:10:43
House fires are not going to affect it.
1:10:45
And the house fires is like the biggest fear most people have.
1:10:47
You could literally bury this item.
1:10:48
And what I like most about this compared to some other options
1:10:54
that are out there, which, you know, anything better than you
1:10:57
know, this paper here is good, right?
1:10:58
Like the the hard robots, like I got back.
1:11:00
Cue one with this paper like it's, you know, it's great.
1:11:03
I have something to record around temporarily, but you
1:11:04
don't want to keep it on here. You know, you want to transfer
1:11:06
it to the metal as soon as possible, you know, to make it
1:11:09
virtually indestructible. And what I like about this
1:11:12
single piece is that Jameson Lopp has like two things that he
1:11:17
recommends when it comes to C phrase storage.
1:11:19
And he's tested the hell out of all these.
1:11:20
And it's small form factor and one solid piece where your
1:11:24
letters are stamped into it. So if you have multiple pieces,
1:11:28
you know, that could introduce a whole, a litany of problems that
1:11:31
could come your way if a kid gets a hold of the device that
1:11:33
you're storing them in and spreads them out everywhere,
1:11:35
loses one or two of them. You know, you have loose pieces
1:11:37
scattered everywhere, loose pieces or, you know, multiple
1:11:40
piece devices, like some of the cassettes that are out there
1:11:42
with those little tiles that you put in.
1:11:45
I don't recommend those because they could seize up.
1:11:47
They're also made of varying materials and metal.
1:11:49
And then once some of those devices heat up, they expand
1:11:51
and, you know, pieces fall out. So make you're with this
1:11:54
solution. It's, you know, it's the proof
1:11:56
of work method because you're, you're literally hammering
1:11:58
things in. But you know, we're protecting
1:12:00
our bitcoins. So we're doing this as the proof
1:12:02
of work way. And your letters become, you
1:12:04
know, one with the metal. You can see they're in there
1:12:07
pretty deep. You know, they're not on loose
1:12:09
pieces. They can't get scattered.
1:12:12
You can literally bury it. We have these holes on it.
1:12:15
You could, you know, mount it in your wall, you could mount it
1:12:18
under a desk, you know, with those, with those holes.
1:12:21
But that's actually kind of a good segue into some new
1:12:26
products that are coming out. And one of them is actually the
1:12:29
cover plate solution that we have.
1:12:31
So we have, you know, a cover, a back plate that you would put
1:12:36
your, you know, up to five seat plates in and you have your
1:12:39
security screws there. Now, what's cool about this is
1:12:42
like these screws are made of the same titanium that the
1:12:44
plates made of. It's not made of like a shittier
1:12:47
metal that's going to melt faster or, you know, it's it's
1:12:52
consistent with the metal that you're storing your seat doors
1:12:54
in, as is the front and the back.
1:12:55
So this is going to be available pretty soon.
1:12:57
We showed it off in Prague. We're going to be showing it in
1:12:59
Nashville too. So if you're there, you could
1:13:01
stop by and see it, but completely covered, which is
1:13:06
nice with security screws. And also if you, you know, say
1:13:10
you don't want to have all your words on one plate, which is
1:13:13
understandable, right? Like you want to kind of spread
1:13:15
things out, maybe do a little multi sig or maybe do some two
1:13:18
or three sharding. We actually, I don't know if you
1:13:20
guys can see this now, but we have the Shamir backup plates
1:13:22
now. And if you look at the bottom
1:13:24
there, you're actually able to you're actually able to put your
1:13:28
share number, your threshold, your total shares and your
1:13:32
wallet number. So if you're using something
1:13:34
like a Trezor, there's something that supports Shamir backup,
1:13:38
Shamir secret sharing. You could spread out your seed
1:13:40
words into 20 into up to 16 different word sets with 20
1:13:45
words per word set and set a threshold of like let's say
1:13:48
five. You would need five of these
1:13:50
plates to unlock all the funds. So this way everything isn't in
1:13:52
one spot. Then you could hide those in
1:13:54
different spots, separate them geographically, share them with
1:13:57
your family. So that's a new that's actually
1:13:58
on the site. Now the Shamir backup, we showed
1:14:01
it off in Prague and it did pretty well because most people
1:14:03
have Trezor's there and I know Trezor said that their their new
1:14:07
Trezor Safe 5 is going to be defaulted to Shamir backup.
1:14:11
So this would go with it. And then their Trezor Safe three
1:14:14
that came out a year ago will also be Shamir backup as well.
1:14:19
So and then on the other side of this, it's just like a demo.
1:14:22
So, and you also have the poor man's multi sig where you could
1:14:27
just break up in a two or three methods.
1:14:28
So you know, two plates would have all your words on them and
1:14:31
you could just separate them however you feel fit.
1:14:35
Oh, and then probably the most, the most important product of
1:14:38
all. So you know, we're stamp seed,
1:14:40
right? Everyone says, oh, you guys only
1:14:41
have 24 word. Most people could put, you know,
1:14:44
a 12 word on a 24 word plate or they put 2/22/12 words on a 24
1:14:48
word plate, but we're coming out with a 12 word, right?
1:14:51
So this nice little plate here, it's going to fit perfectly in
1:14:56
the jig. Like we're not, we're not
1:14:58
throwing a horrible at you guys or anything like that or a
1:15:01
curveball. You could actually use the same
1:15:03
jig that if you already own it, we're going to have these
1:15:06
spacers available too. And you just slide the spacer in
1:15:08
the jig and then you can put your 12 word in there and
1:15:11
there's plenty of room. You know, we're not making
1:15:13
people buy a whole another set up.
1:15:14
Like basically once you have these tools, you have everything
1:15:17
you're ever going to need for any plate templates that we're
1:15:19
going to be coming out with. So this will be available soon
1:15:22
too. And then we'll also have the,
1:15:25
you know, these sort of cover plates for the 12 word as well.
1:15:27
So we got 12 word, we have titanium cover plates and
1:15:31
security screws. We have Shamir backup and two or
1:15:33
three sharding. So hopefully all the solutions
1:15:36
you need are available and you know, if anyone has any
1:15:39
questions, you can reach out to us on Twitter.
1:15:42
You know, we'll be in Nashville as well.
1:15:44
We're going to be demoing you could you can come by the booth
1:15:47
and stamp a letter or two, try it out, see if it's for you,
1:15:50
test out the proof of work method backing up your seed.
1:15:52
We'll have a booth set up there for the three days.
1:15:55
Love it. Absolutely love it.
1:15:57
Great job, James. It's it's great to see you
1:15:59
haven't been on the show in a couple of months and just see
1:16:01
you've been shipping, you know, proof of work behind the scenes.
1:16:04
If you come on release, show some sneak peeks and some cool
1:16:08
new products. Absolutely love it.
1:16:09
But Chris, I did see you hit me in a private chat and you wanna
1:16:12
jump in. So what's up bro?
1:16:13
Yeah, no, James is definitely more of the expert with the seed
1:16:16
stamps and all that, but I completely agree with him, with
1:16:19
the. I've seen a couple and James
1:16:21
knows what I'm talking about. The ones that you like screw in
1:16:23
and it's like pieces that you can like put in there.
1:16:26
I get so nervous with that 'cause I know my stupid self, my
1:16:29
clumsy ass self would drop that thing and the words would either
1:16:32
explode all over the place. And then even James, you might
1:16:35
know the numbers better than me. But even if you had all 24
1:16:38
words, if you, if it was your 24 words, but if you were to drop
1:16:42
it and let's just say they were, they were remained the same as
1:16:44
the 24 words. If you were to throw those on a
1:16:46
table or like mix them up to recover your 24 words without
1:16:50
knowing the order is like still orders of like you could have
1:16:54
the 24 words out of the 2048 and it's still nearly impossible.
1:16:58
Like statistically like it would take millions if not billions or
1:17:02
trillions of iterations to do it.
1:17:03
Even if you had the exact 12/20/12 or 24 words, like
1:17:07
there's just maybe not with 12 but with 24.
1:17:09
Like the math behind it is like you'd be fucked.
1:17:12
It would be the equivalent of like burning your seed.
1:17:14
Yeah, it's like manual biological brute forcing.
1:17:17
Like it's just impossible. But each of those is a little
1:17:19
letter, so it's not even a word. So all those letters would be
1:17:22
scattered. So you'd have to figure out like
1:17:24
what words to make from those. They're like, I call them
1:17:26
Scrabble tiles. Basically.
1:17:27
It's like a Scrabble tile. You have to.
1:17:29
Do. I, I, I was even saying in a
1:17:30
perfect world, like even if the words remained intact and like
1:17:33
you, even if you were to take the 24 tiles and they, they were
1:17:35
the 24 words and you were to throw them on the ground, it
1:17:37
would, if you didn't know the order, or at least like half of
1:17:40
them, it would still be very, very difficult to brute force.
1:17:42
It would be just like the not like it's trillions upon
1:17:44
trillions of combinations if you don't know any rough order.
1:17:47
Oh yeah, definitely. Yeah.
1:17:48
And if that thing's in the house fire, like I said, I've tested
1:17:50
these things and you know, I usually don't talk about the
1:17:52
competition, but those ones, I just don't like it all.
1:17:55
I think it's like a terrible solution.
1:17:57
Like if that if you put heat to one of those cassette base seed
1:18:00
storage where you have those little Scrabble pieces that
1:18:02
you're putting in, once the heat hits it, the layers expand.
1:18:06
Like they kind of, you could see it in our highlights on Twitter.
1:18:08
They expand and then like the tiles just literally fall out.
1:18:12
Not to mention if it bends or, or, you know, something like
1:18:15
that, they're obviously falling out too.
1:18:16
So and these pieces or anything with multiple pieces, I just,
1:18:20
I'm just not for it. And some people might think it's
1:18:22
easier because, you know, they see the hammer and they're
1:18:24
saying, Oh my God, I have to hammer my password.
1:18:26
You know, that's such a low tech solution to, you know, to
1:18:29
Bitcoin, to a high tech, you know, Bitcoin.
1:18:31
But like I said before, this is the proof of work method.
1:18:33
Like you're storing your hard money in self custody.
1:18:37
You have to make sure the backup is stored the right way.
1:18:40
And if you know, it's not even that much harder, like we made
1:18:43
these tools to be super easy. Like if anyone, anyone that's
1:18:45
tested this at any conference you've been to, there's been
1:18:48
like a 99.9% success rate. No one's had an issue with it
1:18:52
just because the weight of the hammer, the brass tip of the
1:18:54
hammer, all those things, the angle, the short handle, all
1:18:57
those things just make it easier, you know, and you want
1:19:01
to have your Bitcoin, you know, safe on, you know, the most
1:19:04
proof of work method. And like those little tile
1:19:05
pieces that takes just as long as stamping your seat in a 24
1:19:09
word plate because they're so tiny and you got to grab them
1:19:11
and you know, when you close it, you got to make sure you don't
1:19:13
shift anything. It's, you know, it's not a good
1:19:15
time. So if anyone has any questions
1:19:17
about that stuff or wants to check it out, you can see our
1:19:19
highlights on X or, you know, we stress tested the shit out of
1:19:22
these things too. You can check out our website.
1:19:24
We hit them with roofing torches, which is like Elon
1:19:27
Musk, not a flamethrower. It gets very hot.
1:19:29
The plate actually turns like cherry red and the chains that
1:19:31
are holding it together start melting, but the plate doesn't
1:19:34
acid baths. We beat it up with the hammer
1:19:38
like you know this one. I, I tried marrying as much as I
1:19:40
could. You can still see every word
1:19:42
that's in here. You know this, this plate is the
1:19:44
one that we stress tested through multiple rounds on the
1:19:47
website. We've also had last 4th of July.
1:19:50
I had my neighbors blow one up with an M80.
1:19:52
We've had we had a steamroller pass by the by our office once
1:19:56
we had it run it over with the steamroller.
1:19:58
Brandon from green candle has been doing some crazy tests with
1:20:01
it too. And the thing just survives
1:20:04
right Like it's it's of course it does.
1:20:05
It's a solid piece of type. Titanium that your letters are
1:20:08
stamped into like nothing's going anywhere.
1:20:11
You know this isn't going to happen to most people right?
1:20:13
Like this crazy damage. But if it does, you're protected
1:20:16
and you know you also want your see words to be time proof like
1:20:20
ink fades. This could easily be thrown away
1:20:23
and mistaken for something else. It could get damp and you know
1:20:26
it could run. It's just, you know, when you
1:20:27
stamp your stuff in titanium, you're not going to forget.
1:20:29
You didn't, You're not going to forget where you put it.
1:20:31
So. 100% agree. 100% agree. Guys.
1:20:34
I think right now is a good point to wrap up.
1:20:37
But to put a bow on what James was saying, one of the things
1:20:41
that keeps you around at least in the Bitcoin space is being a
1:20:45
little paranoid. And like we covered in today's
1:20:48
show, hey, maybe you don't own 10 or 100 Bitcoin and you're
1:20:52
like, oh, I don't need to put my seed phrase on titanium.
1:20:55
It's good on a piece of paper. It's not that much money.
1:20:58
You need to think in terms of how long is the seed phrase
1:21:03
going to last? Will my will I be able to
1:21:06
recover my Bitcoin in 1020, thirty years from now?
1:21:08
This is how you survived the long game.
1:21:10
Only the paranoid survive. Don't overcomplicate things like
1:21:13
James was saying, just get yourself a titanium seed seed
1:21:17
plate. You know, I got the simply
1:21:19
Bitcoin branded one here, the limited edition one and secure
1:21:23
your generational wealth for the long term.
1:21:25
Well and appreciate it, James. And sorry, one thing simply
1:21:28
right, called simply you're going to get 50% off.
1:21:30
I saw someone in the chat checks if we're having a sale, but use
1:21:33
that code, you'll get 15% off. Each kit comes with one plate,
1:21:36
and you could buy as many plates as you need individually after
1:21:40
that. So we sell them in one packs, 3
1:21:41
packs and five packs. And then like I said, if you
1:21:44
have a 12 word or you're going to get a 12 word down the line,
1:21:47
the kit's going to work with that as you get new wallets, as
1:21:50
you get new sets of seed words, like you already bought the kit.
1:21:52
You have everything you need. You just, you just buy your
1:21:54
plates as you need them. You know, you have a friend that
1:21:56
you aren't spilled. Let them borrow your kit, tell
1:21:58
them buy a plate, they're set up.
1:22:00
So we, we wanted to kind of, you know, equip you with this tool
1:22:04
set that you have for life. Love it, James.
1:22:07
Well, thanks for coming on again, bro.
1:22:08
We'll have to bring you back on. I'll see you in Nashville.
1:22:11
I'll be at the booth. I gotta get some, I gotta get
1:22:14
some seed plates for sure. Exactly.
1:22:16
Yeah, get yourself get yourself some KYC free stamp seeds at
1:22:20
Nashville Bitcoin. Conference we'll be accepting
1:22:24
Bitcoin while we're there too, so feel free to stop by and get
1:22:26
everything you need. We're gonna have some limited
1:22:29
edition 2021 only made plates that have a special Nashville
1:22:32
design on it too. So if you want a souvenir for
1:22:34
your time being there, we do it. All our conferences, they sell
1:22:37
pretty quick, so stop by early. It'd be funny if I get stopped
1:22:41
at the airport. They're like, what the Hell's
1:22:42
his hammer? Like, you know, like, is this
1:22:44
allowed in the checked bag? Yeah.
1:22:45
Maybe don't put it on carry. On wait, wait till you have wait
1:22:49
till you have 30 of them in your suitcase and you're going
1:22:51
through TSA like I did you know hey, they don't stop us.
1:22:54
You just can't. You just don't want to bring
1:22:55
them in your carry on. That's the only thing so.
1:22:57
Amazing, amazing. All right, guys.
1:22:59
Well, for the audio listeners out there, go to stampse-ed.com.
1:23:02
You can use promo code simply all caps or go follow James at
1:23:06
Stamp under score Seed on Twitter.
1:23:09
Really appreciate you coming on today's show, James.
1:23:11
Hopefully the people in the crowd realize they need to
1:23:14
secure their generational wealth on something other than paper.
1:23:18
So appreciate it, James. No worries, yeah.
1:23:22
Let me pull you behind the scenes and roll this out.
1:23:24
Hang out for a little bit, Chris.
1:23:26
The one and only Chris Alamo. Appreciate you coming on
1:23:28
dropping hot sauce on today's show.
1:23:30
Plug your Twitters and your socials for the people so they
1:23:33
can get some more Chris Signal and we'll roll this one out.
1:23:36
Yeah, on Twitter at Chris Alamo and then the number six on
1:23:41
Noster. Just Chris Alamo at.
1:23:43
B dot TC. Yeah, I can't do my and pop off
1:23:47
the top of my head, but Chris Alamo at B dot TC is is is the
1:23:50
name of it. So that that's my nip 5
1:23:53
identifier. Opti always a great time
1:23:55
shooting the shit with you. I hope you and everyone else in
1:23:58
the chat that's American has a happy 4th of July, happy and
1:24:01
safe 4th of July. Don't blow off your hand.
1:24:04
Don't blow off your seed plates or your paper, you know, put it
1:24:06
on a on a stamp seed. So I hope everyone has a blast
1:24:10
and a safe time and I guess I'll see everyone on Friday, if not
1:24:13
early next week and looking forward to seeing you in
1:24:16
Nashville. Let's go.
1:24:17
All right, Chris, thanks for showing up today.
1:24:19
We got a solid bench of Co hosts for the simply Bitcoin team.
1:24:23
Anyways, guys, we love you. We appreciate you.
1:24:26
Hopefully you're getting bullish on your stack.
1:24:29
Hopefully you're securing your seed phrase.
1:24:32
Hopefully you understand that this is a journey you're on a
1:24:36
lifelong journey to stack as many sets as possible.
1:24:38
So of course, like share, subscribe, all that good stuff.
1:24:42
And for everyone that hung out throughout the whole show, we
1:24:44
are also doing a 4th of July discount sale, 21% off on
1:24:48
simplybitcoin.com. I think it's already live.
1:24:51
So if you want to get some of the merch support, the boys over
1:24:53
here at Simply Bitcoin. We totally appreciate it.
1:24:56
If it's not necessarily on the website, you just use July 4th
1:25:01
for the promo code, but I think it's live right now on the
1:25:03
website. Anyways, we love you guys.
1:25:04
We'll be back tomorrow, same time as always, 12:15 PM Eastern
1:25:08
Time. And on that now it does your boy
1:25:09
Opti and I'll catch you tomorrow.
1:25:11
Peace Out that was brought to you by bitcoinwell.com on a
1:25:18
mission to enable independence.