Latest / Simply Bitcoin / FED SABATOGES the Bitcoin Bank | EP 601

Transcript

FED SABATOGES the Bitcoin Bank | EP 601 · Simply Bitcoin

0:20
Oops. Yeah.
0:21
Welcome to Simply Bitcoin live today is October 14 2022.
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We are your number one source for the peaceful Bitcoin
0:27
Revolution because the breaking news culture medic Warfare.
0:30
We will show you at only Bitcoin only Bitcoin can give you true
0:33
Financial sovereignty and when we say that, we obviously mean
0:36
Freedom. Today we're going to talk about
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a very hot topic. Apparently, maybe something that
0:42
you do doesn't like very much. We're going to talk about
0:46
Bitcoin is the money of enemies. And, however, way you feel
0:52
about, you know, these two individuals in the title, I
0:58
think it's a really important discussion to have, whether a
1:02
group of people should have the ability to get to decide.
1:07
If another group of people are entitled to speech.
1:10
And at the end of the day, money is one of the most important
1:15
forms of speech. So I think it's a really
1:18
important discussion to have because if If you look at how
1:21
Bitcoin functions you have to be okay with your worst enemy.
1:26
Even if you disagree with him, you have to be okay with the
1:29
fact that he might use Bitcoin for himself, right?
1:32
So I think it's a really important discussion to have and
1:36
I think as time progresses more and more people are going to
1:40
open their eyes to the fact that, hey, when we saw this with
1:44
Russia, we saw this with Iran, right?
1:47
Your enemies are going to use this technology.
1:50
G for themselves? And are we going to live and
1:53
what it? What is it going to be to live
1:55
in that type of World versus the world that we have today?
1:59
Were a bureaucratic Elite in Washington, d.c. are playing God
2:06
and they're getting to decide how or who is entitled to use
2:12
money and who is not entitled to use money.
2:14
And I think it's a really important discussion for all of
2:18
us to have Anyways, today we have a very special guest.
2:23
He's a new member of Simply Bitcoin, birds are not real,
2:28
also known as Paul. How you doing Paul gidney come
2:31
in? How are you doing?
2:32
A good brother? Thanks for joining us today.
2:35
And of course, my legendary co-host, always optimistic,
2:40
Optimus Fields. How you doing brother?
2:42
I am doing well. Good morning, Paul.
2:44
Good morning mikkel. I am excited for this show.
2:46
I think this one's going to be a jam-packed.
2:50
Show. And like you said, a very
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important conversation, say what you will about these men and
2:54
what's going on, but this is like, this is what Bitcoin is
2:57
for, you know. Can't cancel Bitcoin.
2:59
So, absolutely. So we're going to lay out the
3:02
case for you guys. What do you have for in the
3:03
culture Opti? Oh yeah, on the culture.
3:06
Well Forbes dropped an article and it was full of really bad
3:12
economics and bad takes on bitcoin and it's called, do we
3:15
need Bitcoin for what it's become?
3:17
And so we're gonna do bunk it and ER it with our own signal
3:22
from Nakamoto Institute, one of my favorite websites.
3:24
So we're going to where I'm going to do a short economic
3:27
lessons on money. Hopefully I do Injustice, opt,
3:30
he's doing economic lessons. I'm really excited for that and
3:33
I think Rave elevator just confirmed what we were fearing.
3:37
Apparently they are Shadow Banning this hard obviously
3:41
because the men in the title are definitely highly contentious,
3:45
but I promise you this guys, we're not going to approach it
3:48
from the normal political Angle. We're going to approach it from
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the angle of very simple. You want to live in a world
3:54
where a group, an elite group of people get to decide who's
3:58
entitled to use money or not, or do you want to live in a world
4:03
where it's an open monetary Network, even your worst enemy
4:08
potentially could use it, right? And there's pros and cons to
4:11
both systems. Anyways, let's get to the
4:15
numbers, shall we? Let's do it.
4:19
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Visit not L.A you today. All right, guys, at the time of
4:45
recording, the Bitcoin price is 19,000, 282, sad.
4:49
For dollar also known as Moscow, time 758 5,000 186 block height,
4:56
750 1656. Reachable Bitcoin nodes.
4:59
Fourteen thousand. Six hundred ninety two blocks of
5:01
The Happening. 80 1344 having estimate April 20th 2024 total
5:07
lightning network capacity 4990 to capacity value. 96 million
5:13
USD realized monetary inflation 1.78 percent Market Ation 369
5:21
billion dollars or so early. We're so early anyways, So I ran
5:29
into this video by Catlin long and she said something really
5:33
interesting. She said something that we've
5:37
been on top and we've been covering this, right?
5:40
And we've been making the case for you guys for a long time.
5:43
Now that the SCC the Federal Reserve are being political in
5:49
who they're approving and how they're allowing Bitcoin to
5:52
integrate with the financial system, because here's the
5:55
reality, Bitcoin has better. Right.
6:00
I think close the door completely.
6:01
Give me one second guys. Nico's slipping on this Ferry.
6:05
It's Friday bro. I'm running on fumes.
6:07
Many ways Bitcoin has better incentives so their only shot at
6:12
stopping this thing is through coercion.
6:16
So, and I think this, this, this video by cotton long is really
6:20
telling like it really, I think shows us what we had suspicions
6:24
of but like, always like the digital assets framework report
6:28
that was released by the White House.
6:30
I think this is finally a small, another Smoking Gun and clearly
6:34
they're being malicious about it and pay attention to who they
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approve. As a bank that's entitled to use
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Bitcoin and who they didn't approve and we'll get and I'll
6:45
make the case as what I believe. That's the case.
6:47
Anyway, so check it out. That's to the question of
6:51
whether crypto, truly is risky within the traditional banking
6:56
system and the connectivity. Because there was a major
6:58
announcement this morning which is that Bank of New York Mellon,
7:01
which is believed the largest bank in the United States by
7:05
assets, has officially now, entered Bitcoin custody.
7:10
And the interesting question that is raised by that is that
7:15
they are a bank holding company that is regulated by the the
7:18
supervised by the Federal Reserve.
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My company as, you know, has a lawsuit against the Federal
7:22
Reserve and I am about to make some news, you will see a filing
7:27
from my company in that lawsuit pertaining to the announcement
7:30
this morning. Because the Federal Reserve
7:33
filed filings last week talking about the risk to the financial
7:38
system from crypto. And then today, a federal
7:43
reserve supervised Bank holding company enters crypto.
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We've been waiting for two and a half years to do that.
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And look what the FED actually said last week versus what I did
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today. She might drop so hard that they
8:01
all stayed silent, right? And again, it's like don't pay
8:05
attention to what they say. Pay attention to why they what
8:08
they do now. Why did they approve?
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Bny Mellon and not Catlin, Long's back Catlin, Long's bank,
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she opened the bank specifically, it's called first,
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it was called Avanti. Now it's called custodial
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specifically to integrate Bitcoin.
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Make it easier for Bitcoin exchanges.
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Etc, etc. Make it easy for institutions to
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custody Bitcoin. The that bank but the Federal
8:31
Reserve was slow walking her to the point that Catelyn, long
8:35
sued them when she sued them. The Federal Reserve changed the
8:41
rules, right? And there and said, hey it
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usually takes 12 weeks. Now there's an.
8:47
Now there is no amount of time that how long we could take now?
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And it goes back to something that we've been saying for a
8:52
while. The people that are in charge of
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regulating Bitcoin or regulating the industry are also, the
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people in charge are also the people that have the most to
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lose if it succeeds talk about misaligned incentives.
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Now why bny Mellon and why not custodian?
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Well, think about it being Why melon you could bet your bottom
9:14
dollar that it's in bed with the government making it a lot
9:20
easier to control. Custodian is not the case
9:24
custodians of pure Bitcoin. Play her words crypto whatever
9:28
crypto play. Which do you think is more
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favorable? So again, it's like rules for
9:34
the but not for me. We're going to pass rules as
9:36
long as we're okay, and it highlights dude, that Fiat
9:41
money, the whole system is it really by the people for the
9:44
people or like we've been making the case on this channel, it's
9:49
by the government for the government and it will always be
9:53
that way as long as Money is a sorry, the state is in control
10:00
of issuing, the money and having a monopoly on that issuance of
10:03
money. So if we don't separate money
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from State, how can we expect the state to play fair?
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It's just acting on its own incentives, right?
10:12
Anyways, Paul, what are your thoughts on this?
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Glad we have a lawyer on the show fact-check Nico.
10:19
Yeah, I'm, I think the word that you mentioned, that's most
10:23
important. Here is control because that's
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100 That's what it's about and they use the term risk.
10:29
They mention risk a lot. Oh you know crypto spot rated
10:33
ETF is too risky. You know, this this Bank product
10:36
is too risky. They use risk is a way to keep
10:39
small investors and people who are outside of the mainstream
10:43
Financial system from participating.
10:46
You can see this in the accredited investor scheme in
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the u.s. So in order to invest in certain
10:50
products, you have to have a annual income that exceeds 200
10:55
thousand Two, three hundred thousand dollars if you're
10:57
filing jointly and you have to have that for two years in order
11:00
to invest in some products. And the purpose, the stated
11:05
purpose beyond that is there too risky.
11:08
Well, investing is risky. That's what investing is.
11:11
It's a risk but these structures these schemas serve to keep
11:16
normal people out of the high-yielding products out of
11:20
the high-yielding markets and keep them into these, you know.
11:26
Exchange traded, ETFs that track the S&P 500 so that they are
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effectively excluded from the mainstream Financial system.
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And why do they do that? Because when there's fewer
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people in the economic Elite, they get a bigger piece of the
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pie and they don't want to lose that control.
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Yep. I knew.
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I think you hit the nail on the head Opti.
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What are your thoughts on this? Do you agree with Paul?
11:55
Yeah, well I could never say it as good as Paul did.
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But first off like I've I just want to comment on the fact that
12:02
you could have heard a pin drop after she did that mic drop and
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and furthermore just like the strain in her voice.
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You can tell how pissed off she was and that's just another you
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know another it's not it's not my main point.
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I think the main point here is just like this is just the
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kantian effect in real time. You know there's this just shows
12:19
the corruption of politics and the financial world and like I'm
12:23
not surprised as Paul. It's always been about control
12:27
and of course they're not going to basically give up that
12:31
control to a quote on quote Bitcoin bank.
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And furthermore I think this just shows the futility of like
12:37
playing by traditional rules with Bitcoin, it's like Bitcoin
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will Rio around this and this is a feature, not a bug.
12:42
So as much as it's a valiant effort to, you know, try to play
12:46
by the rules and we're not saying to like break the rules
12:49
or anything, but break the laws, but I'm just saying, you know,
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like Bitcoin was meant to make this observation.
12:55
Delete like, Bitcoin was meant to make these Banks optionally.
12:57
And we don't have to trust third parties and and you know,
13:00
trusted counterparty risk that our banks.
13:03
And so it's like Bitcoin will route around this, and it just
13:06
shows that Bitcoin incentives are too strong.
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So even when they tried to cast us out of the financial game
13:13
Bitcoin, you know, the incentives of Bitcoin.
13:16
Just stay winning so bullish on bitcoin.
13:18
But of course it just exposes the corruption in Washington and
13:23
all you know, on Wall Street. Wherever you want it, while I
13:26
want to call it, like they're all corrupt and they will not
13:29
let go of that can t on effect until it is taken out of their
13:32
hands. So it's just, you know, in real
13:34
time we're seeing this happen now.
13:36
Absolutely dude. The corruption and again, this
13:39
all happens because the state is in charge of money and it's
13:43
acting on its own incentives. It's trying to protect its mode.
13:47
Anyways, Opti, let's get to the news, let's do it.
13:52
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All right guys, we're okay. This is a sticky topic but it's
14:20
an important conversation to have this week.
14:26
We saw very famous broadcaster, Alex Jones, he was a warrior, he
14:33
was a jury basically said that he had to pay 900 million
14:38
dollars almost a billion. Why are they doing that same
14:43
reason that Craig Wright went after bitcoiners and sued?
14:47
Bitcoin. Bitcoin was using the British
14:50
Court to silence speech now. Whether you agree with Alex
14:57
Jones politically or not is irrelevant to this conversation.
15:02
The matter of a fact is that they're using lawfare very
15:06
similar to what Craig Wright. Did do silence dissenting,
15:10
speech, and why do we cover this?
15:13
We always say that freedom of speech is the Fright for
15:16
Bitcoin. Bitcoin is a form of speech
15:20
transacting a Bitcoin is a form of speech.
15:24
What makes you think that if you're not allowed to say
15:26
certain things, even this YouTube video is a great example
15:29
of this. I had to change this Idol
15:32
because their Shadow Banning this stuff.
15:35
Do we want to live in a world where an elite few get to pick
15:40
and choose? What speech is entitled or not?
15:42
And Gigi has an amazing tweet. I'm actually going to pull it up
15:47
and I'm going to use it as a preface that we're going to talk
15:49
about today. I'm going to read it for you
15:52
guys. Hate speech, who defines hate
15:56
misinformation, who has the authority on truth.
16:01
And there's a reason that the founding fathers specifically
16:04
the United States made the first amendment the way it is.
16:08
Because it's an oracle problem. There's a fundamental problem
16:12
with a few getting to decide what speech is.
16:16
Okay? And when speech is not okay,
16:18
that few is going to abuse the system and make sure that they
16:23
silenced dissenting speech that threatens their power.
16:26
Well, we advocate for is let the free market of ideas.
16:31
Get to decide what idea is good and what idea is bad.
16:37
There is Perfect solution to this, there's trade-offs.
16:44
Preferably obviously we're a little biased because we're a
16:47
bit coin show. I would much rather live in a
16:50
world where the free market gets the decide individuals, making
16:55
their own decisions not relying on a government bureaucracy,
16:59
getting to decide what speech is, okay?
17:02
And what speech is not, okay? And the thing is, if you've been
17:07
paying attention over the last two years, the decentralized
17:11
hivemind of the internet has taken the so-called experts to
17:16
Absolute school and the at and the so-called experts have been
17:21
making terrible decisions. Remember what they told us guys,
17:25
there was going to be no inflation.
17:28
If you listen to them, you would have gotten absolutely wrecked
17:33
and a bunch of deplorable is on the internet also, Known as
17:36
bitcoiners. Got that right?
17:40
But we were labeled. As misinformation.
17:45
So the world that I advocate and what I what I recommend to you
17:48
guys is, is this going to be a perfect world?
17:51
No, I don't think perfect worlds, exist, I don't think
17:53
Utopias exist but I think the world would be a better place if
17:57
the individual Made his own decision over his life rather
18:06
than Outsourcing that personal responsibility to somebody else.
18:11
And I think this is what it all comes down to at the end of the
18:14
day. So, all that being said, that
18:17
preface being said, let's get to the news.
18:21
So what happened, right? This is John told he said, Alex
18:25
Jones were just ordered to pay 45 million, more 965 million for
18:30
Chris conspiracy theory nonsense.
18:32
Then JPMorgan for rigged precious metal markets for the
18:36
better part of a decade. That's right.
18:38
What about when they told us in the New York Times said that
18:41
Iraq had weapons of mass destruction and that led to the
18:45
invasion of Iraq which killed tens of thousands of people,
18:50
real people. What about that?
18:52
Where they find No, because that wasn't going against the
18:55
establishment narrative now. Do I agree with Alex Jones
18:59
politically or what he stood for?
19:01
No, some things but not all of them.
19:06
But that's besides the point the point here is there clearly
19:11
using law. Fair to go after dissenting
19:13
speech which is how hot or not has found himself, where he is
19:18
today. Greg right used law.
19:21
Fair use the libel laws in the UK, to go after him for
19:25
dissenting speech and that scares people and that forces
19:29
people to self-censor out of fear of a lawsuit.
19:34
So, moving on. Let me move on to this one.
19:39
It's Candace. Owns predominant, conservative
19:43
commentator. And she said earlier today, I
19:44
learned that Kanye West was officially kicked out of
19:46
JPMorgan Chase. I was told there was no official
19:49
reason given but they sent this letter as well to confirm that
19:53
he has until late November to find another place for the Yeezy
19:57
Empire to bank. So again, I don't, I don't agree
20:03
with the things that Kanye was saying.
20:05
In fact, there are anti-semitic as hell.
20:07
They're racist as hell too. but, Goes back to what I was saying,
20:14
Bitcoin is the money of enemies. The way it functions is like,
20:19
the money of enemies you have to be okay with your worst enemy
20:23
using Bitcoin. It's an open monetary Network.
20:28
The other side. Again, you have a group, a
20:32
bureaucratic Elite that are deciding who's entitled to use
20:36
money or not. Now, the same system that kicked
20:39
out Kanye has also been abused. To go after.
20:44
In the case of Canada, right? News peaceful protesters, they
20:47
were on bouncy houses. And they use that system to go
20:52
after dissenting speech, so it has been abused in the past.
20:57
But I think this week was a very historical moment, it was a very
21:01
historical moment in this kind of fourth turning that we're
21:04
going through because these are extremely predominant people,
21:09
these are very well-known people.
21:11
These are people that are fucking Super Famous and there
21:14
you have the system showing itself in broad daylight and
21:19
it's going after speech that goes against the official
21:24
narrative. And I don't want to live in that
21:26
world. I want to live in a world where
21:29
I'm going to get the information that I get, and I'm going to
21:32
make my own decision about what's going on.
21:36
Now, how does this all connect to bitcoin?
21:39
Same reason that The Russia and Iran sanctions forced those
21:47
countries to look for Alternatives.
21:50
It's just a matter of time before enough banks closed their
21:55
doors and the only option left is Bitcoin.
22:00
What do you think happens when someone like Alex Jones?
22:06
Someone like Kanye have no alternative but to use the
22:10
orange coin who what? You think the establishment is
22:14
going to say about the orange coin?
22:17
What do you think they're going to do?
22:21
What do you think? The vocabulary they're going to
22:23
use to go after it? I just think it's a matter of
22:28
time before this happens. In fact, it's already happening.
22:31
Look at Russia, look at Iran. Look at the reaction from the
22:35
treasury. I got a email from law 360.
22:39
Couple days ago the US treasuries off tall already
22:43
going after other mixers. like I predicted a month ago, the
22:50
stagers or the value of the node validators for aetherium, 60%
22:54
are already only accepting ofac compliance blocks So what the
23:01
question that I have for you, the individual is what world do
23:06
you want to live in? There's downstairs pros and
23:10
there's cons of Both Worlds, but I'll tell you this, I think
23:12
there's a whole lot more Pros in a world that had that functions
23:17
on an open monetary Network versus a world.
23:21
That's centrally planned were a group of bureaucrats are
23:26
deciding who is entitled to use money and who's not entitled to
23:30
use money and those bureaucrats are turning up the heat like
23:35
freaking crazy, it's not just you.
23:38
Anymore. Now, it's anybody who talks
23:41
against accenting speech? So those are my thoughts on
23:47
that. I hope that you guys could think
23:50
clearly and not get distracted by the propaganda and actually
23:55
pay attention to the words that I'm saying, this is not about
24:00
what Kanye said, this is not about what Alex Jones said, I
24:05
don't care what they said. I'm paying attention to the fact
24:09
that there's people that are hell-bent on silencing dissent.
24:15
And if they silence dissent, if they don't want people saying
24:19
certain things, what makes you think they'll be okay.
24:24
With bitcoiners transacting with whoever they want.
24:29
So this is crazy shit and I believe that this is just the
24:35
freaking beginning. If I told you what happened
24:39
today or would happen this week, if I told you about it, five
24:42
years ago, you would label me a conspiracy theorist.
24:44
And fact, I would label myself a conspiracy theorist, if I heard
24:48
it. And you think I'm crazy.
24:51
But here we are Opti. What are your thoughts, bro?
24:54
Let's go to this. Go to Paul the lawyer first and
24:56
then we'll get the in-house truth-teller.
24:58
Yeah, man. I'll keep it tight reminds me
25:01
that quote, you know, I may not agree with what you had to say,
25:03
but I'll fight to the death, your right to say it.
25:06
I think that's every freedom-loving person should
25:08
take that, that perspective, as far as freedom of speech.
25:13
Like the founders, never thought that all speech was good.
25:16
All speech isn't good. We know that, Yelling fire in a
25:19
crowded theater is not a good use of speech, but their
25:23
principle was that there is no person who is able to
25:26
objectively judge, what is good speech, and what is bad speech
25:30
without incorporating bias, or political motives, what have
25:33
you? So they put freedom of speech
25:36
first and made you responsible for the outcomes of your speech?
25:40
Like, if you yell fire in a crowded theater, you're
25:42
responsible for the people that are hurt.
25:45
In this case, let's assume what the court concluded.
25:49
Was correct. And that Alex Jones de fade,
25:51
these people and caused them injury.
25:53
They would be, they would be entitled to compensation.
25:57
Those are called actual damages in a court of law.
26:00
What brought this up to almost a billion dollar a billion
26:03
dollars, was punitive damages which are designed to punish a
26:08
person for bad behavior. So, in essence, what they did
26:11
here is they said your we don't like the content of your speech
26:15
so much. We're going to financially
26:16
punish you because we can't throw you in jail.
26:18
Four. The outcome is the same either
26:21
way, Alex Jones Beach, whatever you think about it.
26:24
Who cares is chilled, it's silenced.
26:28
And that is that is a net detriment for all of free
26:32
society, and this is on the second thing.
26:36
The j.p. Morgan thing.
26:37
Honestly, I think any private business should be able to
26:40
cancel their business with any person for whatever reason banks
26:44
have been doing this for years, redlining back in the early part
26:47
of the century 21st. Century, they kept blacks from
26:51
getting loans or purchasing houses.
26:53
They've been doing this for a long time and that's why I'm so
26:55
excited about Bitcoin because it makes them irrelevant because we
26:59
don't need you, a private business.
27:01
To say, you can use your money here.
27:03
Or you can't, we take the power in their own hands Financial
27:06
sovereignty. So yeah, JPMorgan pandharpur the
27:09
fuck you on, I'm going to use Bitcoin and I think everyone
27:12
else to especially marginalized people and especially people who
27:17
mainstream culture wants to cancel.
27:20
Marginalized people needed the most man.
27:22
I think they're the ones that have the most to benefit from
27:25
Bitcoin and again The Establishment at be.
27:29
What do you think they're going to do?
27:30
What do you think they're going to say when the when
27:33
marginalized people have achieved or have gotten this
27:37
power? This this this power that
27:40
Bitcoin gives you gives the individual.
27:42
How do you think they're going to react to it?
27:45
It's not called the money of enemies for no reason, right?
27:49
The good news about all this though and I'm going to take
27:51
this from Kaiser is that it's meant to be attacked it welcomes
27:55
attack. In fact every time it gets
27:57
attacked it gets stronger so bring it on, it's going to be
28:01
but it's going to be crazy and we'll try to do our best to
28:04
cover this but yeah, guys Opti in-house truth teller what's
28:10
your angle on this? My bro?
28:12
Well to me this is very obviously, Freedom of speech
28:15
issue. We are freedom of speech, Maxis
28:17
here. And I thought we lived in a free
28:19
Society, but apparently, we don't, if you say the wrong word
28:22
and you have the wrong think, you know, it's orwellian, it's
28:25
orwellian, dystopia, they will just cut you out of society.
28:28
And if we can't convert freely, we can't ever get to the truth.
28:31
And this is why we, you know, we're so open about de Bay and
28:36
and arguing the point on their own merits.
28:39
Like I don't need the nanny state to tell me as an adult,
28:42
what are bad words are per to Take me from bad words for my
28:46
safety, you know, I am a rational human being and I think
28:50
there are other rational human beings out there until you guys
28:53
point, you know, like if you can separate yourself from what is
28:56
being said, and you look at what is being done, this is this is a
29:00
warning call or a premonition of what will combat are come down
29:04
on the future of this. And it's like Paul said, you
29:06
know the saying I'm not I may not like what you say but I will
29:09
fight for the for your right to say it and and furthermore To
29:15
the end of your aunt. This isn't about yay, or Alex
29:18
Jones, this is about clamping down on the average individual
29:21
and scaring them into compliant. So this is what it's really
29:25
about and and furthermore if we add that with the PayPal news
29:28
that we heard last week about finding you, if you don't, you
29:31
know, if you if you step off the, the mainstream perspective,
29:36
again, this just shows where the powers that be want to take the
29:40
take our world and our society and, and again force you into to
29:44
compliant and be afraid of speaking the truth.
29:47
And and you know, shying away from these hard topics which I
29:50
think as humans we need to actually openly discuss in, this
29:54
is why we are free speech Maxis. Like again, I don't need the
29:58
nanny state to protect me from bad words like I as a human
30:02
being understand what is wrong and what is right?
30:04
And furthermore this is a Bitcoin show and Bitcoin is for
30:07
enemies, and Bitcoin is Free Speech money.
30:10
So, you know, Bitcoin is the most Equitable inclusive money
30:13
there is and even Even if you don't like the person they can
30:17
and should be able to transact in my opinion like humans are
30:21
humans. And you know who am I or small
30:24
cabal of people to tell us that you you know don't deserve to
30:27
feed yourself and your family. And furthermore like this is why
30:30
we Bitcoin, Bitcoin takes the power out of the hands of a
30:34
small cabal out of the banks as Paul said.
30:36
So this is very, very scary stuff going on as an average
30:41
individual. If these people like these, He's
30:44
men who are, you know, they're big names or big faces if they
30:48
can't transact or speak freely in a world.
30:51
Like what makes us think that we can to, or as well?
30:54
It's like this is terrifying for the average individual because
30:57
again, it's not about them. It's more about scaring us to
31:00
average person into compliance. And this is how I'm viewing.
31:03
It's like, man. I, I'd like to speak freely, but
31:08
I also realized like Paul is saying, you know, not all speech
31:11
is good, but if we can't at least push against these
31:14
Boundaries and see where those lines are.
31:16
How as we as human to the whole know what is truth?
31:20
Because you know the Arbiters of Truth can tell us what's up from
31:23
down but we will never know. Anyways, end of rant, I think
31:27
Paul wants to jump in with one more topic, so it Paul, yeah, I
31:31
got one more thing to say in this net probably should have
31:33
mentioned earlier, but this is really important.
31:35
We're talking about money and speeches.
31:37
If they're two separate things, they're really not mean, this is
31:41
even decided in the citizens, united case, where the Supreme
31:44
In court said that money is Free Speech.
31:48
Who you donate your money to how you use your money is Free
31:50
Speech, the courts have also decided that code is free speech
31:54
and I think we all believe that. I think we all know that Bitcoin
31:58
is both code and money. Bitcoin is not separate from
32:02
Free Speech, or adjacent to it. How you use your money, how you
32:05
transact with your money is an aspect of your ability to
32:08
express yourself and part of your right to free speech.
32:13
Boom, I'll yeah, I agree and I love that.
32:15
We have a I love that that we have a lawyer now it simply
32:20
Bitcoin. He's gonna give the lawyer out
32:24
on all of you. Sorry, guys, hell yeah.
32:25
Good. I like it.
32:27
So one last thing guys, let's talk about the Two Worlds and
32:32
then we'll move on to the culture.
32:35
Both have trade-offs, there is no perfect solution to this
32:39
world. Number one is the world that we
32:41
live in now. There, Joe Rogan had the Rolling
32:45
Stones founder or Creator on on a show and the guy was making
32:50
the case. Like, we need the government to,
32:54
to regulate the internet. We need to governments.
32:56
Here's the thing guys, right? And that's the solution, right?
32:59
It's like, oh, you could just please speech hate speeches, you
33:02
know? It's we take it away.
33:04
Like racism. It's like, dude, we all hate
33:06
that stuff but here's the, here's the Crux of the issue is
33:10
that the government will abuse that to protect themselves.
33:15
And not only that the government will use that to silence
33:19
dissenting speech. The Iraq, war is a great
33:22
example. Afghanistan is a great example.
33:25
Vietnam is a great example. There's so many examples of the
33:30
US government flat-out lying, and then calling out the people
33:35
who are dissenting. As misinformation as Traders.
33:41
The guy that basically one word or made War to go faster or end
33:51
faster he cracked the Enigma which is like the Germans secret
33:57
encrypting messaging device and he and crapped it.
33:59
He decrypted it using this root it really rudimentary computer
34:05
that he built, right? The UK government persecuted him
34:11
sterilized him. Because he had a certain
34:16
sexuality. It wasn't third and wasn't until
34:20
30, 40 years later, the UK government apologized for that.
34:26
So why am I bringing up these examples?
34:28
Because the only solution to dictating or getting to decide?
34:34
And actually, made a movie about this, by the way, with Eric
34:39
Cumberbatch or whatever that actor.
34:42
Anyways I'm going to sidetrack. The only solution to policing
34:48
Free Speech or policing disinformation.
34:53
Is the government doing it? Alan Turing.
34:57
Thank you, Rave elevator. And look at his story, it's
35:02
tragic. And the guy was a hero.
35:07
The only solution to policing disinformation, or, or, you
35:12
know, cutting down the hate speech, or giving the authority
35:14
to a group of people to do. That is bigger government.
35:17
The problem is that history has shown that bigger government,
35:20
has used that power to protect themselves and to go after
35:24
dissenting speech. So there isn't a perfect
35:26
solution, the founding fathers knew this, which is why they
35:29
make the first amendment the way they did.
35:31
So what is the other alternative?
35:34
The other alternative is it falls back to the individual, to
35:40
get to decide what idea is good? And what idea is bad?
35:46
There's a tremendous amount of personal responsibility that is
35:50
required for that, as well. If more individuals take
35:55
personal responsibility and they start, they stop Outsourcing
35:58
that to either a news agency or the government.
36:03
The world would be a much better place because it's a
36:06
decentralized system. It's individuals making coming
36:10
to their own conclusions right? I like that world.
36:13
I think that's the world that we're going into and I like I
36:16
think that's the world that the internet just incentivizes in
36:21
the first place but we're in this weird transition were a big
36:25
portion of the population, still living in the old world and I
36:31
think that this is where the Clash happens.
36:34
Anyways, I'm really excited about the future, but holy crap.
36:38
Is it going to be there's going to be ups and downs.
36:41
I want freedom. I'm a freedom Maxie.
36:44
I think Freedom solves, as it brings the best out of humanity.
36:48
And I think the other system is dependent on coercion and it's
36:52
dependent on human slavery and I'm sick of it.
36:56
Whether it's their money, whether it's the fact that they
36:58
want to gatekeeping formation as well, I'm sick of it, it doesn't
37:02
have good results. It's failed.
37:06
It's time to move on. It's time to try something new
37:10
and the internet is going to facilitate that.
37:12
And on top of the internet comes.
37:15
The thing that we talk about every day Bitcoin anyways, rent
37:18
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Opti, take it away, brother. What's up guys?
38:30
Okay, so today's culture I have a few things backed up for the
38:34
culture but I saw this drop today and it is Friday.
38:37
So of course they're going to try to weasel in a really bad
38:39
economics article on Forbes and paint Bitcoin as a tool that
38:44
people don't need. But as we just so eloquently
38:47
elaborated on the news section, the world needs Bitcoin now more
38:50
than ever. So let's just get into this
38:52
article. This is my forbes.com and it's
38:54
titled, do we need Bitcoin for what it's become.
38:57
So this is by a guy. Dan drunk of vicious.
39:00
And he goes has Bitcoin found its identity as an asset class
39:03
last month. Bitcoin briefly decorrelated
39:05
from tech stocks until this week.
39:08
What's going on here? Your guess is as good as mine.
39:10
This is his words, not mine, because unlike other asset
39:13
classes, Bitcoin doesn't have much of valuation Benchmark
39:16
after all, we can't value it as a currency or a medium of
39:19
exchange. And there's very little of
39:20
anything we can buy with it without the involvement of a
39:23
fiat currency and despite its long correlation with tech
39:26
equities, we can't value it as a stock Either it doesn't generate
39:29
earnings nor does it pay a dividend?
39:32
So what it is then and how can we price tag it and on this last
39:35
last paragraph, you can see exactly where his biases, but
39:38
I'll cover that later on in the article.
39:40
So he starts off the article with calling Bitcoin.
39:43
A decentralized fairytale a decentralized currency is a
39:46
lovely Democratic idea, a Bitcoin isn't Democratic but
39:50
maybe Nico can elaborate on that later and you can discuss its
39:53
merits against Fiat currencies day and night, but the hard
39:55
truth is no government. However Democratic will give
39:58
aways Troll over legal tender, apparently.
40:01
Dan is never heard of El Salvador, but that's neither
40:03
here. Nor dare.
40:04
So you don't have to look too far back to see what the
40:07
government are capable of take gold.
40:09
It's the world's oldest currency that is still used today after
40:12
Fiat currencies be. Holy still, hold on, hold on,
40:14
hold on, Opti you're being challenged.
40:16
Okay, in the live chat. People want to hear you say
40:20
something in Spanish. Hola como estas Rowley
40:37
that is still used today. Even after Fiat currencies
40:40
replaced, and it's one of the vital Reserve assets of central
40:43
banks, and by far the most popular on an asset class and
40:46
yet anytime gold threatened to strip the government of its
40:48
power to control. I mean, lawmakers quickly
40:50
stepped in and it references executive order 6102.
40:54
And then he goes on to say, Banning Bitcoin at this point,
40:57
would be a political walk in the park compared to the great
40:59
compensation and other measures governments have taken in the
41:02
past. So we have to get realistic here
41:05
unless there's some kind of political cataclysm that sheds,
41:08
the world order as we know it to Pieces Bitcoins chances of the
41:11
currency are very slim. If it grows too big to compete
41:14
with paper money, lawmakers will eat it alive.
41:17
Apparently, Dan is never heard. About the China banned because
41:20
Bitcoin don't care Honey, Badger Don't Care.
41:22
But the fact that Bitcoin can't become a currency doesn't
41:25
necessarily mean Bitcoin is worthless.
41:27
So we agree on some points Dan. Okay from an investment in
41:30
ideological standpoint Bitcoin is more like a commodity than a
41:34
currency more precisely gold. One of the most expensive and
41:37
useless Commodities in the world.
41:39
Unlike other Commodities like oil gold has and you can see his
41:42
bias, I personally love the fact that Bitcoin is: quote useless.
41:47
I want my money to be purely money.
41:49
We will get into that later, known as gold legal tender, you
41:52
can't walk into a pizza, hot drop, a sliver of gold on the
41:54
counter and expect to get a slice of pizza and return.
41:56
That's because gold has just one job, sit tight in a vault and
41:59
hold its value. Gold is outlived every modern
42:02
currency ever created. And for thousands of years, it
42:04
has successfully fought off inflation and even gone up in
42:07
value. In other words, gold is an
42:09
insurance against everything that can go wrong with paper
42:11
money, inflation, devaluation and whatnot.
42:13
Gold is a hedge against Bad government decisions.
42:16
Yes, this is why we are so adamant about the sound money.
42:19
The gospel and furthermore holding hard money.
42:22
We do not want government to debase our currency.
42:25
We want to make it hard for them to make more units of our
42:27
currency. This is a feature, not a bug,
42:29
but inform Bitcoin is probably the furthest thing from gold.
42:32
You can think of digital versus physical, but as the asset
42:35
classes, that you are very much, a lot like, gold Bitcoin has
42:38
little utility. Its Supply is limited not by
42:41
nature, but by Design and its value.
42:43
Purely depends on supply and demand rather than centralized
42:46
monetary policy here. I want to interject because Lee.
42:49
I find a lot of utility in Bitcoin, the 21 million, hard
42:52
cap, cannot be debased, you can't make more units.
42:55
It is censorship resistant money.
42:56
And furthermore, even if you take that all away, you can send
43:00
Bitcoin across the internet in 10-minute final settlement.
43:04
I don't know any other currency that can do that without an
43:07
intermediary and a third party counter is.
43:09
But anyways, I will get into that more can Bitcoins beat gold
43:13
track record for a store of value.
43:15
Gold has a hell of a credential is, how did value against
43:18
inflation for over? Thousand Years.
43:20
The catch is you have to hold gold directly.
43:23
This is where Bitcoin comes in. Technically have all to replace.
43:26
Gold is a more convenient store value.
43:28
So he does see the value of Bitcoin, but I digress its weak
43:32
spot is that it's on a roller coaster and floor store of value
43:34
13 years in one recession are just baby steps compared to
43:38
Gold's track record. Again, we tell you guys all the
43:40
time, zoom out Bitcoin. Number goes up, is literally
43:45
just a sign of adoption. There is no bear markets and
43:47
Bitcoin. But anyways, Bitcoin maturing
43:50
into a store of value and he concedes to our point that
43:53
Bitcoin has come a long way and deserves credit no matter where
43:56
you stand in the crypto debate and he even furthermore says
44:00
little falling under that the hollers are going to but I'm
44:04
getting ahead of myself. So of course we have to be
44:06
careful about jumping to conclusions from such moves for
44:09
one adopting, crypto has become sort of a marketing PR gimmick
44:12
which I agree with him. Adopting crypto is a marketing
44:17
gimmick, but once you adopt Bitcoin there, Is only number go
44:20
up in regards to bitcoin, it is an adoption cycle and once you
44:26
adopt it, there is no going back.
44:28
But as he says just because Wall Street lets its clients trade,
44:31
Bitcoin doesn't necessarily mean it has much conviction in it and
44:35
to this point, I definitely agree because if you're familiar
44:39
with Bitcoin and the market of Bitcoin in the price action of
44:41
Bitcoin, you understand that most Bitcoin is in cold storage
44:45
and the price fluctuation is of Traders on the margin.
44:49
Just a small amount of traders that are moving the price but
44:52
most people that understand Bitcoin are holding their
44:55
Bitcoin. As I told you, the price of
44:58
Bitcoin is just a sign of market adoption.
45:01
And I like to say the price of Bitcoin is a real-time metric of
45:06
people's understanding of Bitcoin, and I'll get into that
45:09
a little later as well. But as he says, what does
45:12
Bitcoins price action says? And he says, another way to
45:14
proxy, the markets Collective opinion of Bitcoin is to look at
45:17
its correlations which Which I just debunk when I told you that
45:21
the price of Market fluctuation is based on the edge of the
45:24
Traders moving the market. So there will be some
45:27
correlations because most people that are trading, the markets
45:29
are also trading other markets, and the capital move our little
45:33
market because Bitcoin is a baby anyways, all of a sudden Bitcoin
45:36
becomes a mainstream technology plan began.
45:38
Moving in tandem with the NASDAQ, very few asset classes
45:41
and vectors have such a strong correlation, which means one
45:44
thing the market didn't buy Bitcoin for its original
45:46
promise, it wasn't a hedge against Fiat devaluation.
45:49
End of traditional Finance. Instead it was a highly
45:52
speculative risk on investment but like I just said the price
45:57
of Bitcoin moves on the margin of the Traders and he even
46:00
concedes to the idea that the number of hollers in the top
46:03
five categories up 2.1 BTC as grown under bearish Market
46:07
condition since April 20, 22 and the degree of houghtaling
46:11
behavior is historically high. So he understands what we
46:14
understand most Bitcoin doesn't move most hollers.
46:17
Hold their Bitcoin long-term and the price.
46:19
Fluctuation is people on the margins moving and trading
46:23
Bitcoin because they don't understand what Bitcoin is.
46:25
But like I say Bitcoin has one way of adoption and its number
46:29
goes up into the right? So, of course, Bitcoins
46:32
decorrelation with stocks lasted for just a month until this last
46:36
week. So it's way too early to jump to
46:38
conclusions but out of curiosity what would happen to bitcoin
46:41
proved itself as a mainstream store of value?
46:43
And we talk about this all the time.
46:44
If Bitcoin captured just half of the store of value market, it
46:47
would alone quadruple its market cap.
46:49
That would said Bitcoin to a near seven-figure Mark.
46:52
And here's the end of the article.
46:53
Do we need Bitcoin as a store of value?
46:55
If Bitcoin doesn't get much more than a store of value.
46:57
That it is, it doesn't have much utility as a medium of exchange
47:01
or any other application apart from storing value in effect
47:04
invalidated on digital superiority to gold.
47:07
And that case does gold really need a replacement and he said
47:10
no, but as we understand Bitcoin is the best money.
47:16
It's perfect money, it's way better than gold.
47:18
I don't know if you can send, Gold across the internet in 10
47:20
minutes or less for final settlement.
47:22
That's sarcasm. Of course you can't.
47:23
Anyways I told you I was going to reference Nakamoto Institute.
47:26
It's one of my favorite websites and you guys should all go.
47:29
Devour everything on this website, but there's a perfect
47:31
article. I put it in the description for
47:33
you guys and it's Bitcoin as a store of value unit of account
47:36
and medium of exchange. So let's just jump into some of
47:38
this stuff and he goes, there's a common fallacy which says that
47:41
price stability is required in order for currency to function
47:44
as a form of money. However, in an unstable World, a
47:47
stable currency is Stability is about as real as the fountain of
47:52
youth youth. Love potions are perpetual
47:54
motion machines. It is not to be found anywhere
47:57
in the universe but for some reason, people act the somehow
47:59
exist prices, reflect the availability of things that we
48:04
actually can have otherwise prices could not serve.
48:07
Enabling people to coordinate the allocation of scarce
48:09
resources right now the world is deciding whether it wants
48:13
Bitcoin to be money fundamentally we don't know but
48:16
Bitcoins exponential growth is a strong signal.
48:19
Anal and if Bitcoin were stable there will be no such signal.
48:23
So what actually makes a good store of value, it's an
48:26
expectation about how much people think the only way that a
48:29
good can store value is if everyone wants it.
48:31
So badly that it would be snapped up even in a tiny
48:34
discount and this paragraph. I might have to read the whole
48:38
thing because I think it's got so much sauce and it goes
48:41
stability occurs. Once everyone has not only
48:44
learned of the favorable properties of the good, but has
48:46
learned that everyone else also knows of those Geez this is
48:49
where we are right now. If I know that Bitcoin is both
48:52
scarce and unforgeable, I met Stevie I may still be scared to
48:55
put my money in it because I'm a fear that other people won't
48:57
treat it like a store of value. Furthermore, everyone could
49:00
think this way at the same time in the market, therefore still
49:03
behave fearfully. This is why people must be
49:05
convinced that everyone else believes in Bitcoin to people.
49:09
Today are both coming to terms with Bitcoins properties and are
49:11
confused about how the rest of the market believes in them.
49:15
And this is where we tell you guys all the time, the Bitcoin,
49:18
price resident. I just told you a minute ago,
49:20
the Bitcoin price in my opinion is a real-time metric of
49:23
people's understanding of Bitcoin and there is no bear
49:26
markets and Bitcoin. Bitcoin is a protocol, it just
49:28
getting adopted in real time. It just has an acid on top of it
49:32
where it's priced fluctuate. But the number goes up into the
49:36
right because people are adopting Bitcoin all around the
49:39
world. It's just not, everyone knows
49:41
exactly what they're holding, but you guys the hollers out
49:44
there, the bitcoiners out there. The principal bitcoiners out
49:46
there, know exactly what I know to be true.
49:49
Coin is the best store of value that the world has ever seen.
49:52
You cannot debase it. It is algorithmically hard
49:55
capped at 21 million and you don't need a third party
49:59
intermediary to me that has a lot of utility and value.
50:03
But anyway, what about big one? As a unit of account, when
50:06
people say, unit of seem to want something that will reliably
50:09
measure well, somehow, they are just other ways of chasing the
50:13
siren song of stability. There is one worthwhile,
50:16
definition of unit account, it's very simple, a unit of account
50:18
is Something such that a gain to it is considered to be a prophet
50:22
and a loss is considered to be a loss that's thinking of profits
50:25
and losses. In terms of gaining or losing a
50:26
liquid, good is essential to being able to divide the entire
50:29
future into manual tasks. And this is what we tell you
50:33
about the price as the price goes up.
50:34
It shows that Bitcoin is more liquid, it shows signals to the
50:38
market that more people are adopting Bitcoin.
50:40
And with that comes the idea of a medium exchange.
50:44
The only way you get to a medium of exchange is the people store
50:47
value in it. So as more People store value
50:50
and Bitcoin the price goes up as more people stopped selling
50:53
Bitcoin, the price will continue to go up and adoption is a
50:57
feedback loop. So people fundamentally need to
51:00
save in Bitcoin first before they will use it as a medium of
51:03
a cow hard medium of exchange. Sorry.
51:07
And there is some more to this but I feel like I've read too
51:12
much anyways, but the last point is when people say Bitcoin isn't
51:15
a good store of value or unit of account.
51:17
What they really mean is Bitcoin isn't Being adopted yet or
51:20
rather Bitcoin isn't being adopted quickly enough, which is
51:23
not a valid complaint Bitcoin as the right properties for the
51:26
world's money. And the more the world comes to
51:28
terms with this, the more stable, it will become and just
51:31
to add some sauce on here from Twitter.
51:34
I really love this tweet by safety and almost.
51:36
And he says, remember what the Forbes article said Can Bitcoin
51:41
be gold track record and safety dunks on all that fun because
51:45
this isn't a new narrative. This isn't a new flood line on
51:48
bitcoin. The It's problem with Bitcoin is
51:50
that it didn't exist before 2009.
51:52
The biggest problem with Bitcoin is that it's only 13 years old
51:55
and only time will tell that it is better than gold.
51:58
Only a free market tool like Bitcoin where people can
52:02
willingly based on their own thoughts and their own thinking
52:06
adopt Bitcoin without coercion will we know whether it is the
52:11
best money. But as you txo, says right now,
52:14
Bitcoin has the best properties of any money we've ever
52:16
discovered. And gold is money because of its
52:19
Party's not because it's back. It is the Supreme money.
52:22
And this is why the world is adopting Bitcoin at Breakneck
52:26
speed, there is only an adoption cycle of Bitcoin and it's up and
52:29
to the right. You got to start with a store of
52:32
value first, and then all these other things happen afterwards,
52:36
but Bitcoin is becoming money in real time.
52:38
So it's store of value, a unit of account, and a medium
52:41
exchange all happening at once. And the market price, the
52:44
signals of the market are just a reflection of people's
52:47
understanding of Bitcoin and the world.
52:49
Waking up to the fact that they need Bitcoin more than ever.
52:52
Anyways, I think Iran to too long Nico, paw jump in.
52:55
And I absolutely love these op dear aunts, it's the Friday
52:59
episode guys, so we're taking just for our own mental sanity
53:03
or else opting. I will spontaneously combust,
53:07
we're going to take this Saturday off.
53:09
So this is going to be the weekend episode.
53:13
I know a lot of you guys love. So no man, I think you
53:16
absolutely killed it so much sauce.
53:18
I love that. Website was Nakamoto Institute
53:23
right Opti. Yes, so I did I think you
53:27
covered it so well I really don't want to pollute that with
53:30
my stuff but I will you said in the very beginning you said
53:34
something about Bitcoin not being Democratic and you know I
53:37
had to that you know potentially give you guys a little bit of
53:40
value. Look, the reality is, you know,
53:44
and this is why, you know, the change the code campaign and all
53:46
that thing is just so stupid and they're just beating their heads
53:49
against the wall. It's not really doing anything
53:52
the This mechanism that fiat currency, you know, the shit
53:56
coins have this, where it's like, you know, the majority
53:59
votes and then all of a sudden you know that changes
54:02
everything. If you don't go along with it
54:03
you're screwed right Bitcoin, doesn't function that way.
54:06
It's up to the individual user, to get to decide what software
54:12
he wants to run, what Bitcoin software you want to run, what
54:14
Bitcoin softer. He doesn't want to run when
54:18
Satoshi is like one of the early writings is.
54:20
So she mentioned he's like I hope that there's different
54:22
versions of Bitcoin. Now it's mostly around core
54:26
right there is other versions but the vast majority of nodes
54:29
are running core, right? And the beauty of that, right?
54:34
Is that the majority can't force the minority to run.
54:40
Something doesn't work like that, right?
54:42
And that protects the individual tremendously, it gives them
54:48
power that he once did not have right?
54:52
And again, I believe and I'm a big Big fan of freedom.
54:55
I think that this is a benefit to the world but, you know,
54:58
that's my opinion. That's what I want to add to
55:01
that. Paul.
55:02
What are your thoughts on that? What are your thoughts on
55:05
bitcoin democracy and if you want to add anything to Opti but
55:08
I think Opti fucking slate it. I mean I'll start with the
55:13
article that was like that was actually kind of impressive.
55:16
It was a very impressive collection of all the old Bud
55:20
points that we've been hearing for years.
55:22
I rarely See them in one place. My second thought of that
55:26
article is man, tell me you don't understand Bitcoin money
55:30
or economics without telling me like he had all the basic he had
55:35
a lot of the basic information but missed a lot of the
55:41
connections then leaning into those Five Points.
55:44
So I'm both impressed and disgusted by that article from
55:49
the Democracy standpoint. Yeah.
55:52
Bitcoin is not a democracy. Bitcoin is Market driven, there
55:56
are multiple versions of Bitcoin.
55:57
There's, you know, Bitcoin cash other hard forks.
56:01
And the one that we are on now Bitcoin Bitcoin one because of
56:07
its Superior monetary policy and market adoption.
56:11
Yep. So, I mean, we worked, we tried
56:13
it. They thought they were going to
56:15
be better versions. They're not follow the market.
56:19
Follow the monetary policy stick with Bitcoin and you're going to
56:23
win. Amen to that.
56:25
I think that was beautiful. Opti you freaking slate at, man,
56:28
you've been on fire. Oh, thank you.
56:31
Thank you, thank you. Oh man.
56:32
All right, let's let's check out the mean review, everybody.
56:38
The daily meme review, brought to you by Cipher safe.
56:42
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their new Bitcoin art the Bitcoin rulebooks triangle only
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on Cipher safe dot IO. Well, you already know this is
57:08
the meme review and tweet are the bullets.
57:10
But memes are the artillery in this information War, guys,
57:13
continue to mean continue to get calls of actions continue to
57:17
make the illustrations and the Funnies and the humors that will
57:20
get people into the Bitcoin net. Anyways, this This one, this
57:24
isn't this is an old meme is by toward to me, sir.
57:27
But I really liked it considering that I'm almost
57:29
positive when things start pumping.
57:31
Again, people are going to fall for the Trap of altcoins or AKA
57:35
shit coins and he goes back in 2013.
57:36
I argued that altcoin served as a pressure valve for dealing
57:39
with liquidity flowing into Bitcoin will history repeat
57:42
itself. And as you can see on the left
57:44
that we got the dollar money's going into the Bitcoin valve and
57:48
we got out all coins. Releasing the valve in the
57:51
pressure and some of this money will get wrecked out and come
57:53
back. Back into a bucket, going back
57:55
into the Fiat world and some of the money will go into Bitcoin
57:58
mining. And the reason I added this one
58:00
because I think this is a great illustration of what goes on in
58:03
the Bitcoin Market as everyone knows shit coins or just to
58:06
leverage play on bitcoin shit. Coins are designed to take your
58:09
Bitcoin and you know some people are going to get wrecked and
58:11
that's just that's just part of the game.
58:13
Shit Corners will do shit coin things and hey Bitcoin is the
58:17
one that moves the market and Bitcoin is the valve from the
58:21
Fiat system anyways. This next one is by my boys.
58:24
A lead on underscore T cell. And since I covered that about
58:28
shit coins, I really like this one about someone on a island
58:33
and he sees a boat, you know, we say it all the time Bitcoin is
58:36
the escape boat. Bitcoin is the escape valve or
58:39
as people said you know, Bitcoin is like Noah's Ark.
58:41
It will save you from the flood and we got a boat here and it's
58:44
got the ethereum logo and we got, you know, Castaway person
58:48
on an island goes. Yeah, no, thanks he will even
58:51
avoid the Escape boat. That is a theory.
58:54
Mmm. This next one is by a friend
58:56
Bitcoin meme Hub. And again, you know, I wanted to
58:59
put this one in because it kind of adds into what we covered in
59:01
the news and he quotes. This is a dangerous to our
59:04
democracy said, no one from mainstream media.
59:07
All they want you to focus on is pronouns war and other shit
59:10
Bitcoin. It Aleutian, and it's a
59:12
screenshot for Bitcoin magazine of global inflation rates, and
59:15
we got America 8.2% Brazil, 7.2%, Germany, 10.
59:20
I think that's germ Rush 13.7. We got Argentina.
59:24
Seven 78.5%, we got turkey at 83.5% and Nikas home, country of
59:30
Venezuela hundred and fourteen percent this.
59:32
That's right, that's right. And it has been as well as the
59:35
real danger. This is the real danger.
59:37
Is you are losing your wealth. Anyways, this next one, since we
59:42
covered the Kanye and the Alex Jones, I thought it was a pretty
59:45
fitting shot cytotoxic at. I told him to put these on
59:48
Twitter so that I can put them on the show and it goes Chase
59:51
Deuteronomy. Think we're closing his bank
59:53
account. Yeah again another another Kanye
1:00:01
post he was on Joe Rogan 2020. I know he's a bit corner but I
1:00:06
don't know if he's an adamant bit corner like us but he does
1:00:09
have this quote on that podcast. With Joe Rogan he goes the
1:00:12
Bitcoin guys. Really have a perspective on
1:00:14
what the true liberation of America and Humanity will be.
1:00:17
And this is why we do what we do every single day because we are
1:00:21
Freedom maximalist. Like we believe in Freedom,
1:00:24
Speed, we believe, in Freedom of Association, we believe in
1:00:26
Freedom of the individual, we are trying our best to spread
1:00:30
the signal to fight the collectivist every single day.
1:00:33
And Bitcoin is that tool that eliminates the art slavery that
1:00:37
gets you to opt out of the system continue to take self
1:00:40
custody. That is away.
1:00:41
And this next one is by my boy any Rag and he says the real no
1:00:46
real number go up. Is that simply Bitcoin yesterday
1:00:48
was our 600 episode and I'm not going to take credit for this
1:00:51
one. This is more an Applause to
1:00:53
Nica. And even even a boy Phil who you
1:00:57
know left the show but we will not let simply Bitcoin dies
1:01:01
shouts out to episode. Six hundred shouts out the six
1:01:03
hundred more episodes because the signal cannot be stopped and
1:01:09
you know just shouts out to Unique.
1:01:10
I'm glad that I can join the team and we can continue to push
1:01:13
the sound money gospel because that's all that really matters
1:01:16
is people understanding that we have the tools to free ourselves
1:01:20
from all this madness. Anyways I hope Speaking of team,
1:01:25
right? You're going to give a shout out
1:01:26
like that. I want to give a shout out to
1:01:28
all the other simply Bitcoin members, Paul Zak wine, Rustin
1:01:33
with the wake-up call the legendary wake-up call.
1:01:35
Shout out to all you guys you guys there's a lot there's a lot
1:01:39
of heavy lifting working also Meagan and Lisa and the since
1:01:43
the Bitcoin team strong. Yes.
1:01:45
And then our friend also in Pakistan as well.
1:01:48
Thank you man. Really appreciate it.
1:01:49
Lots of love to all you guys caught on.
1:01:52
Hold on I got one for you Nica. I am building exactly today.
1:01:58
My score is my son pack bag that I that that holds my lighting
1:02:04
when ideal traveling. So Mica saw me carrying my
1:02:08
assassins bags as we are traveling to these conferences.
1:02:13
So, boom. That's my score today.
1:02:16
All right, I'm gonna give a very special show.
1:02:18
A very special show, very special.
1:02:21
It's a Coca-Cola bottle cap. Whoo.
1:02:25
It's when it's the good Coca-Cola's.
1:02:27
If, you know, you know, this cap only got comes on the glass
1:02:30
bottles Paul. What do you give those memes?
1:02:35
First off? I want to say, don't stop mining
1:02:37
until you get to 21 million episodes.
1:02:39
That's the most of my life. So, and I know you say not to
1:02:45
get political, but I'm going to get a little political.
1:02:47
I give those means a spherical Earth.
1:02:51
Wow, I see you. Paul don't don't add me guys,
1:02:57
birds are not real. Alright guys, neither some we
1:03:01
already got some scores, but drop your scores in the chat and
1:03:03
we'll read them for you guys. We got this first one Niko.
1:03:05
You want to read them out? Yes, this is narwhal tacos.
1:03:08
I give those memes, literally, 15 minutes of my Fiat job, which
1:03:12
I was supposed to be at 15 minutes.
1:03:16
That's all right. I told my work hours at a
1:03:18
doctors appointment. So Okay?
1:03:21
Means deserve a surfboard because I'm about to go surf
1:03:24
later, fam. Beautiful, beautiful.
1:03:28
Bitcoin. But wait, hold on.
1:03:29
It's not a mean review, score, but I wanted to do this.
1:03:36
Are we got one? All right, I got you Jason more.
1:03:40
I give those memes some horns that was not us for the record
1:03:48
Optus neglect, opt, he's neglected four-month-old.
1:03:52
I love him. Whoever you are like, you score
1:03:55
and an appointment at the foot doctor for Opti.
1:03:58
Optimus West. They take shots.
1:04:01
I like how this West. Oh, man.
1:04:03
Okay. Lift Frenchy.
1:04:05
I give those memes my seven hours of work today.
1:04:08
Oh shot, but in, that proof of work in Bitcoin.
1:04:12
Becca. I give those memes my leftover
1:04:14
special brownie from last night, bro.
1:04:17
Brown he's blaming out, dude. So, I don't believe she is.
1:04:21
That he left over and Simon G clickbait.
1:04:29
As usual, they wonder why they don't have any viewers.
1:04:31
We do have viewers, but oh, if we talked about it in the early
1:04:35
part of the show, my figure out the segment's.
1:04:37
Dude, it's a new segment. You gotta, you gotta, you gotta
1:04:40
reverse, dude, Jesus, it's okay. You keeping us honest?
1:04:43
I like it. Anyways, guys.
1:04:45
Also, make sure to join simply Bitcoins.
1:04:48
Awesome telegram group. You can visit it by going to VW
1:04:52
w dot T, dot me slash the simply Bitcoin Channel.
1:04:56
Also you can check out Simply Bitcoin unfiltered, it's the
1:04:58
written version of Simply Bitcoin.
1:05:00
You gotta go to www.simpleandsensational.com,
1:05:04
use also want to give a special shout-out to our awesome
1:05:06
clothing sponsor. We wear their hoodies, and
1:05:09
shirts every single day. Opti you have to do the modeling
1:05:12
like usual. My friend show the back, show,
1:05:14
the back. That is the represent to
1:05:16
centralize merch. It's awesome.
1:05:18
It's stylish is comfy. I'm wearing the Original
1:05:22
represent. If you see me at the airport
1:05:24
ever, I will be wearing this because it's comfy as hell, and
1:05:28
they also make Bitcoin Merchants a Bitcoin company.
1:05:30
They accept Bitcoin. It's awesome.
1:05:32
So, shout out to the represent, guys.
1:05:34
We love your clothing. It's super comfy.
1:05:36
You can take advantage of the promo code in the video
1:05:38
description to get 10% off represent.
1:05:40
LTD.com Opti, why don't you tell everybody where they could find
1:05:44
us audio version? Yes.
1:05:46
Yes guys. We are on anchor!
1:05:49
We are on modify. We are on Apple and if you love
1:05:52
what we're doing, we are part of the valley for Value economy on
1:05:56
Fountain app. And you can stream is some set.
1:05:58
I will get the the, the fountain log in this weekend and I'll
1:06:02
make sure we have them on Monday for you guys.
1:06:06
Awesome things. I've di I will see you all on
1:06:08
Twitter spaces and oil and you can we do have the software.
1:06:11
Let's do this off a release. I want to get this or yeah.
1:06:13
I want to get this one in that it Bitcoin.
1:06:21
Software release. All right, this is this is a
1:06:26
software release but it's also a site by bitcoiners.
1:06:30
And I've been trying to get this one in all week and I really
1:06:33
think this is an important important website that we that I
1:06:36
want to show this is Jam app dot org and it's a website that that
1:06:42
basically makes join mark, it easier to use.
1:06:44
So it's a modern interface for join market.
1:06:47
For coining out there, guys, completely decentralized free as
1:06:49
in Freedom. And you know, you can earn stats
1:06:52
by putting liquidity up there. You know, it's he says right
1:06:55
here in the bottom improve your financial privacy today.
1:06:58
Join Market one, one of the best coin joining implementations out
1:07:01
there has just became easier to use and I haven't used it yet
1:07:05
but I'm happy to try this out because I have, you know, I'm
1:07:09
the high functional down on the show and I think this is this is
1:07:12
going to make it a lot easier for more people to coin.
1:07:14
Join hence, why I you know, I fortunately could have put this
1:07:17
on the show today but anyways and you go is that a software
1:07:20
release or website? I think it's it's a site it's a
1:07:23
site but maybe maybe it's Websites.
1:07:30
Okay, now we got it. Anyways Jam app dot org.
1:07:33
Go check it out. I think Gigi's a part of it.
1:07:37
So shout out to you bro. Shouts out to everyone that is
1:07:39
that is working to make Bitcoin more private and easier to use.
1:07:42
So also we got to add this stuff.
1:07:44
All right guys, this show continues till 2 p.m.
1:07:47
Eastern Standard Time, about half an hour on Twitter spaces
1:07:50
with our friends from Swan Bitcoin.
1:07:53
Check out the simply big mr. Sorry, check out the Pacific
1:07:55
Bitcoin conference promo code, simply major discount.
1:07:58
Also one, Give a very special shout-out to our awesome guest.
1:08:02
Who is a new member of Simply Bitcoin.
1:08:05
We will be dropping new type of content very very soon.
1:08:09
I'm really excited for it. It's going to be awesome.
1:08:13
Paul, thank you so much for joining us today.
1:08:15
Where can people find you brother?
1:08:18
So I'm birds are not real to on Twitter.
1:08:21
You can find me in the the tweet on this.
1:08:23
If you're having trouble on how to spell that but yeah, this new
1:08:28
content is going to be Really interesting.
1:08:29
We've been working really hard on it.
1:08:31
I think it's gonna be good stuff.
1:08:32
I think you guys are going to like I think so too.
1:08:35
I think it's going to be up your you up.
1:08:37
Your guys is a lie. We're really excited for it.
1:08:40
We will drop it soon. It just keep an eye on it.
1:08:42
Will let you guys know. But anyways guys, thank you for
1:08:45
joining us on another episode of Simply Bitcoin.
1:08:48
We're going to we're going to rest over the weekend.
1:08:50
But of course, we'll be dropping, you know, Clips
1:08:52
shorts, all that stuff over the weekend.
1:08:54
So you'll always have the signal especially from our interviews
1:08:57
that we did with Awesome guests, definitely don't want to miss
1:09:01
those. We love you all appreciate.
1:09:03
If you had that, like, subscribe, consider sharing the
1:09:05
video as well. Thank you guys for joining us on
1:09:08
another episode of Simply Bitcoin will see you on Monday.