Latest / Simply Bitcoin / Is The Strategic Bitcoin reserve about to lose 127,000 Bitcoin? | EP 1458

Transcript

Is The Strategic Bitcoin reserve about to lose 127,000 Bitcoin? | EP 1458 · Simply Bitcoin

• 0:01
  What would happen to the price of Bitcoin if America, the US
• 0:06
  government, was forced to give back over 127 thousand Bitcoin
• 0:12
  from the strategic Bitcoin Reserve?
• 0:15
  As crazy as it sounds, there is a chance that that could be a
• 0:19
  reality. I'm not making this up.
• 0:22
  I see you guys in the chat like you guys like Opti.
• 0:24
  You're making crazy headlines. Yeah, it's kind of my job, but
• 0:29
  I'm not making this up. OK.
• 0:30
  So I will start with obviously the big conversation that I
• 0:35
  think a lot of us Bitcoiners have been talking about.
• 0:39
  It is the reality of the situation that we really don't
• 0:44
  know how much Bitcoin the US government actually has.
• 0:48
  Again, I'm here on bitcointreasuries.net and
• 0:53
  allegedly, and it's a big alleged, OK, it's a big
• 0:57
  allegation here because we haven't gotten official audit.
• 1:00
  We really don't know if these numbers are real.
• 1:04
  We don't know. That's literally the the
• 1:07
  scenario here. But from all intents and
• 1:09
  purposes the official numbers is that the US government holds
• 1:14
  about 328,372 Bitcoin. Now the latest chunk of this
• 1:21
  Bitcoin was this 127 thousand plus coins from this infamous
• 1:27
  pig butchering seas where there was, you know, a a scamming
• 1:35
  criminal network based in Cambodia.
• 1:38
  And the US government was able to seize or rather seized
• 1:42
  127,000 coins from this, you know, crypto scammer.
• 1:47
  And we took that we're like, this is mine now we're adding it
• 1:50
  to the Bitcoin reserve. But that brought up more
• 1:53
  questions and probably were answered because we still have
• 1:57
  no clue if the US government had the 200,000 coins that we that
• 2:01
  they claim they had. There's been a lot of
• 2:04
  speculation, a lot of rumors on this idea that before the Biden
• 2:09
  administration left the office or the House, the White House,
• 2:14
  they may have been selling a lot of that Bitcoin.
• 2:18
  And that doesn't even bring up a lot of the other speculation,
• 2:22
  rumors and somewhat facts here of the US Marshals mishandling a
• 2:27
  lot of the Bitcoin that they were supposed to be custody.
• 2:30
  So in, in reality, from a pure Bitcoin perspective, we really
• 2:36
  have no clue how much Bitcoin the US government has.
• 2:40
  But the numbers that everyone's been touting right now is the US
• 2:43
  government holds over 328,000 coins.
• 2:47
  Again, there's been no audit. We have no clue if this is the
• 2:51
  official number. This is really a trust me, bro,
• 2:54
  this we're, we're not in a, hey, we can verify this.
• 2:58
  And there's a lot of speculations on why that is the
• 3:01
  case, to put bluntly. Or rather, one of the more
• 3:05
  generous views of this is this idea that, hey, it's not in the
• 3:11
  US government's best interest to publicly share all of their
• 3:14
  addresses and all the Bitcoin that they hold because of
• 3:17
  various, you know, reasons, OK? Like because of reasons we don't
• 3:22
  know and we probably won't know for a while.
• 3:24
  The more bullish take of this is this idea that the US government
• 3:28
  has been actively stacking and therefore they don't want to
• 3:32
  really release the addresses because then we would all know
• 3:36
  for a fact that they have more Bitcoin.
• 3:39
  Now there's another conversation that's a part of this, which I
• 3:43
  know makes a lot of Bitcoiners feel uneasy.
• 3:46
  It is this budget neutral way of stacking Bitcoin.
• 3:51
  Everyone wants the US government.
• 3:53
  Well, not everyone. But when you talk about the
• 3:54
  strategic Bitcoin reserve, the idea that really got a lot of
• 3:58
  bitcoiners probably excited is this idea that, hey, they're
• 4:01
  going to be buying Bitcoin, allegedly a million Bitcoin over
• 4:04
  five years. And the only reason bitcoiners
• 4:06
  probably were somewhat cheering this on is because, hey, an
• 4:10
  unlimited bid by the US government, they got to buy a
• 4:13
  million Bitcoin. Where are they going to be able
• 4:15
  to get all that Bitcoin from? It's not that much Bitcoin going
• 4:19
  around. It means that number is going to
• 4:21
  have to go up. It means that the price of
• 4:22
  Bitcoin will have to go up because the US government will
• 4:25
  have to buy a lot of Bitcoin. And further that will start this
• 4:28
  domino, this nation state race, this accumulation race to
• 4:33
  acquire a lot of Bitcoin extending outside of just the
• 4:37
  US. If the US goes in heavy,
• 4:39
  accumulates a lot of Bitcoin, then obviously you would bet
• 4:43
  that other countries will follow suit and they're going to have
• 4:47
  to buy a lot of Bitcoin as well. And that goes back into this
• 4:50
  feedback loop of where they're going to get all this Bitcoin.
• 4:52
  The only way they can get the Bitcoin is by incentivizing
• 4:55
  people to give up that Bitcoin, which means the price of Bitcoin
• 4:58
  will have to go higher. That's usually the kind of
• 5:02
  thesis, the arguments around why the US government buying Bitcoin
• 5:07
  could be a good thing at all. Most people, probably the more
• 5:11
  hardcore ones, are like, I thought this was the separation
• 5:15
  of money and state. I, I don't really care for
• 5:17
  governments and nation States and institutions in Wall Street
• 5:20
  to acquire Bitcoin because they're taking Bitcoin out of
• 5:23
  the hands of individuals or rather raising the price so that
• 5:26
  everyone gets priced out. That's like the main
• 5:29
  conversation, obviously. Now this is where this new story
• 5:34
  comes about, and this is from Bloomberg.
• 5:38
  It is it is titled the tycoon who had a secret life as an
• 5:43
  alleged scam kingpin. You can hear where the narrative
• 5:47
  is going and I'm I'm only I I added this to my notes guys.
• 5:50
  I'm only going to read a little bit of this and this is really
• 5:53
  where I will just kind of, you know, off the cuff think this
• 5:57
  through with you guys. So here is the quote coming out
• 6:02
  of Bloomberg, which is where all the speculation is coming from.
• 6:06
  So this week, lawyers for Chen, the guy that was basically
• 6:11
  charged with the crime of having this pig butchering scam for
• 6:14
  scamming a lot of Bitcoin or, you know, crypto, and they
• 6:20
  seized his coins. We took there was a huge debate
• 6:23
  on whether China should have this Bitcoin or whether the US
• 6:28
  has a right to take this Bitcoin.
• 6:31
  And the US is like, hey, we're going to win this Bitcoin race.
• 6:33
  This is ours now because they were scamming U.S. citizens
• 6:37
  anyways here is the quote again This week lawyers for Chen filed
• 6:40
  a motion in a New York federal court to dismiss the US
• 6:43
  government seizure of a haul of Bitcoin.
• 6:46
  It has it has linked to him. The lawyers argued that many of
• 6:49
  the allegations against Chen are quote provably and obviously
• 6:52
  false and that accusations he oversaw scam compounds were
• 6:57
  quote non specific statements and background commentary about
• 7:01
  conditions in Cambodia. They raised questions about the
• 7:03
  timeline of the cryptocurrency seizure and said that the
• 7:07
  Bitcoin couldn't possibly have been the proceeds of fraud or
• 7:10
  money laundering. Now a little further along in
• 7:13
  the article, it says the DOJ declined to comment, as did the
• 7:16
  US Attorney's Office of the Eastern District of New York
• 7:19
  that earlier indicted Chen, as well as the UK Foreign,
• 7:22
  Commonwealth and Development Office.
• 7:24
  And authorities in China did not respond to the quest and com or
• 7:28
  to the request for a comment. So that's where this idea is is
• 7:33
  coming from. Again, it's coming out of
• 7:35
  Bloomberg. This is them doing a kind of
• 7:38
  expose on this guy Chen, whose full name is Chen XI or Zi Chen.
• 7:45
  Chen XI is, is how it's written in Bloomberg.
• 7:48
  And allegedly or rather essentially what the article is
• 7:51
  saying, or rather where the doubt is coming is the lawyers
• 7:55
  for Chen are saying, hey, he's a real estate mogul.
• 7:59
  He's, you know, a philanthropist.
• 8:02
  All of his wealth came from legal matters.
• 8:05
  You know, it came from legal ways.
• 8:08
  And he didn't run this huge criminal enterprise.
• 8:11
  Obviously, the US government and seemingly the Chinese government
• 8:17
  are saying the opposite. So we are in this situation
• 8:21
  right now. Where will this actually happen?
• 8:26
  Probably not. Is really like the big take away
• 8:29
  like let's let's just be clear and cut here.
• 8:32
  Like you think the US government's going to get back
• 8:34
  127,000 coins here when they're on this hellbat race to become
• 8:39
  the Bitcoin superpower of the world.
• 8:42
  I think we've seen injustices that are worse than this.
• 8:45
  Now, if you are, you know, not a legal, you know, what do you
• 8:51
  call it? A lawyer or a legal, a law, a
• 8:54
  student, a law advocate? You're probably wondering what
• 8:58
  this even means. So a dismiss for the US
• 9:02
  government seizure of a whole Bitcoin is essentially them
• 9:05
  saying that the lawyers have formally asked the federal judge
• 9:09
  to throw this case out because they're saying, hey, they took
• 9:14
  and they seized this Bitcoin and they they're basically just
• 9:18
  stealing a man's wealth. So they're pretty much asking
• 9:20
  the government to give back the Bitcoin and saying that they
• 9:25
  lose legal claim to even claiming this Bitcoin.
• 9:30
  When you kind of read this court case, you're like, yo, there's
• 9:34
  literally no hope that this is going to happen.
• 9:36
  Like they they're lost in the sauce.
• 9:39
  This is most likely not going to happen at all.
• 9:42
  But again, this does bring up a lot of questions in regards to
• 9:48
  the strategic Bitcoin Reserve and the ways that they are
• 9:53
  acquiring and adding to that strategic Bitcoin Reserve, which
• 9:56
  is this whole idea of budget neutral.
• 9:59
  And as I pointed out, as a lot of people in the chat have
• 10:01
  pointed out in the past, the only budget neutral way that
• 10:06
  we've seen the US government acquire Bitcoin is through
• 10:11
  seizure to asset confiscation. Put another way, you could say
• 10:16
  through theft. Maybe that's a little more of a
• 10:19
  hardcore perspective here. There is obviously criminal
• 10:25
  precedent for them to confiscate criminals assets.
• 10:29
  That's that's definitely a part of their purview that they can
• 10:34
  do with the law. So you know, they could they
• 10:39
  obviously have this right now you could argue does the state
• 10:42
  have rights, etcetera. But what we're not talking about
• 10:45
  like an anarchist perspective here.
• 10:46
  We're we're talking about the the pragmatic view of how the
• 10:50
  state in laws work. Now this does bring up further
• 10:56
  conversation which I literally laid out in the beginning of the
• 10:58
  show, which is how much Bitcoin does it even have?
• 11:03
  And are we going to find that the US government is going to
• 11:07
  have to give back Bitcoin? I mean, we've seen in the past
• 11:11
  when the US government has taken a lot of Bitcoin, there has been
• 11:15
  a lot of contention about that Bitcoin.
• 11:17
  In particular, I'm thinking of the Bit Fenix kind of debacle
• 11:20
  where the US government took a lot of Bitcoin.
• 11:23
  Turns out they gave some of it back.
• 11:25
  They didn't give it all back, but they gave a lot of it back.
• 11:28
  And now we're like, OK, are we, are we getting ourselves in
• 11:31
  another situation? And it really I think compounds
• 11:36
  on the idea that a lot of the things we're seeing from the
• 11:39
  Trump administration. But again, whether you love him
• 11:42
  or hate him, a lot of the ideas I think maybe not all of them.
• 11:47
  So let me let me roll that back the idea of becoming a Bitcoin
• 11:52
  superpower of the world. Personally, as an American, I
• 11:56
  want to see US embrace Bitcoin. I want there to be favorable
• 12:01
  laws around Bitcoin. I don't want America to lose
• 12:06
  that race because I want to live in a country that treats Bitcoin
• 12:10
  well, that treats my money that what I view to be the best money
• 12:16
  in a favorable light to me. It's a great idea.
• 12:20
  Now, again, this does bring up a lot of this conversation and I
• 12:25
  and I know there's been back and forth in the chat, some of you
• 12:27
  guys are more favorable towards Trump.
• 12:30
  Some of you aren't so favorable towards Trump, but it does bring
• 12:35
  up the comp the the conversation of are they just doing things
• 12:43
  and they're kind of fumbling while they're doing it?
• 12:46
  Like do they really have plans here?
• 12:49
  Again, I am totally in favor of at this point, nation states
• 12:55
  acquiring Bitcoin because if they don't, they're going to
• 12:58
  lose out the race. This is the 21st century.
• 13:01
  We're in a digital world. I believe countries should
• 13:04
  embrace digital money. Now, how they acquire that
• 13:07
  Bitcoin is probably a hairier conversation, but I truly
• 13:13
  believe that any country that embraces Bitcoin in in good
• 13:18
  light is going to be a very successful and prosperous
• 13:22
  country moving forward. That's just kind of my
• 13:25
  heuristic, my first principles here.
• 13:27
  Like that's my my given my base case.
• 13:30
  And we're seeing, hey, they're, they, they're seemingly trying
• 13:34
  to do a lot of things. But just because your intentions
• 13:39
  could be considered good or favorable, it's really about the
• 13:44
  execution. And from a lot of the things
• 13:46
  we've seen in in particular around just Bitcoin in general,
• 13:51
  the execution is lacking. It's not favorable.
• 13:56
  It seems like 2 steps or one step forward, 2 steps back.
• 14:01
  It's starting to make me feel that this might not like
• 14:07
  nothing's going to happen anymore in Bitcoin.
• 14:09
  And you guys heard me say this and, and I know I might be one
• 14:12
  of the, the only voices saying this and I, I really want to be
• 14:16
  hopeful and, and optimistic and bullish for you guys on the
• 14:20
  show. Constantly you guys are telling
• 14:22
  me in the chat like we're at 70K again.
• 14:25
  You know, things are moving in the right direction.
• 14:27
  Like you guys are being very shocking on cynical.
• 14:31
  It might just be a bear market thing.
• 14:32
  OK, maybe it's the demoralization that we're all
• 14:36
  feeling. But a lot of what I'm seeing
• 14:38
  coming out of the Trump administration, being completely
• 14:42
  honest, transparent, it's not that good.
• 14:46
  Let's be honest. And we brought this up in the
• 14:50
  past, and sometimes we were a little more lenient, a little
• 14:54
  more positive towards the Trump administration because maybe we
• 14:57
  were getting hopeful about things changing.
• 15:00
  But let's not forget that before Trump even became president, two
• 15:06
  shit coins were launched in his name.
• 15:08
  Well, one in his wife and one in his name.
• 15:10
  Now, you could argue that he probably had no clue what was
• 15:14
  actually going on. He probably still doesn't have
• 15:18
  the best, biggest, you know, understanding of what Bitcoin
• 15:22
  is. But we do know for a fact that
• 15:25
  his kids now are totally Bitcoiners, or at least quote
• 15:29
  Bitcoiners. They have Bitcoin companies.
• 15:31
  They're out there being semi good Bitcoin spokespeople.
• 15:36
  So you're starting to see, I think a divide happening right
• 15:40
  now where whatever comes out of the federal government from the
• 15:44
  Trump administration top down, it is very lackluster though
• 15:50
  from a private company perspective, from what they, the
• 15:53
  Trump family is doing from a personal level, on a business
• 15:57
  level, excuse me, they are totally, I think incentivize or
• 16:02
  rather wanting to capitalize on this Bitcoin phenomenon.
• 16:08
  I think we can all agree that that is what's going on.
• 16:12
  But when it comes to what's happening with the strategic
• 16:15
  Bitcoin reserve, I mean, we got an executive order, nothing
• 16:21
  really happened. They've like let's let's keep it
• 16:24
  a buck here. Nothing really happened.
• 16:27
  I guess the only good thing that happened if if you're pro
• 16:31
  Bitcoin strategic reserve from a nation state game theory level,
• 16:35
  the only good thing that happened is they're not selling
• 16:38
  their Bitcoin, which, you know, I guess has its own pros and
• 16:42
  cons. You you can make a case that
• 16:44
  it's a good thing. You can make a case that it's a
• 16:46
  bad thing. I guess the case for the good
• 16:48
  thing is they're starting to acknowledge Bitcoin as something
• 16:51
  that you actually want to hold, something that people should
• 16:53
  hold. If they're not going to sell it,
• 16:55
  then they obviously see the value of holding Bitcoin to the
• 16:58
  long, you know, to the long term for the the long run.
• 17:03
  On the other side, the con is probably like, you know, you
• 17:07
  probably want to see them sell that Bitcoin so it gets
• 17:09
  redistributed so that we get to acquire that Bitcoin.
• 17:13
  And at the same time, it'll probably take the price a little
• 17:16
  bit, which is not necessarily a good thing, but at least we get
• 17:19
  cheap sats and the Bitcoin gets out of the hands of nation
• 17:23
  States and government officials and it comes back into
• 17:27
  individuals hands or businesses if you're a Bitcoin treasury
• 17:30
  type person. So, I mean, look, maybe it's
• 17:36
  just because I am starting to become very cynical on where we
• 17:42
  currently are in the story of Bitcoin colliding with politics
• 17:46
  and with government institutions that it's starting to feel like
• 17:54
  we we didn't get the promises that we wanted.
• 17:57
  I know, I know we got most of the promises, but I think
• 18:00
  everyone in the chat is with me when I say like, don't you
• 18:04
  remember we were supposed to be at 150K early in this
• 18:06
  presidency? And I mean, I guess we don't
• 18:10
  know what quote early actually means.
• 18:12
  We all kind of thought and I, I'll, you know, I'll speak for
• 18:15
  myself here. I totally thought that with the
• 18:19
  US embracing Bitcoin, the price would go higher.
• 18:24
  And you guys know me. I'm, I'm a cheerleader for
• 18:27
  anyone that pumps our bags. Full disclosure, very open about
• 18:33
  it. I get trolled about it
• 18:34
  constantly. It's like, oh, Opti's so cynical
• 18:37
  when it comes to someone that's negative about Bitcoin and then
• 18:40
  flips on a dime for anyone that's positive about Bitcoin.
• 18:43
  It's like, yes, because whether you like it or not, when people
• 18:47
  do start to embrace Bitcoin, it does further the conversation
• 18:51
  because look, for us, I, I, it's hard to say we're all early
• 18:55
  adopters here. But for many of us Bitcoiners
• 18:59
  that have been in Bitcoin for a long time, we've definitely had
• 19:03
  this like underdog story. And now that we are seemingly
• 19:07
  entering into the mainstream, you're wondering, OK, like
• 19:12
  what's it going to take for the early majority to start
• 19:16
  embracing Bitcoin? Is it going to be big names,
• 19:20
  nation states, people acknowledging and saving in
• 19:23
  Bitcoin? Is it just going to purely be
• 19:25
  number go up? Like what is the catalyst to get
• 19:28
  us from the early era of Bitcoin into where everyone starts
• 19:33
  seeing or the majority of people start seeing that, yes, I need
• 19:37
  to save in Bitcoin. So I am a huge advocate for
• 19:41
  anyone that embraces Bitcoin to kind of just show data points of
• 19:46
  like, OK, whether you think the United States is cool, whether
• 19:49
  you think Wall Street's cool or whatever big name is cool.
• 19:53
  But that is the point where I think the early majority start
• 19:57
  to embrace Bitcoin. This idea is like, oh, Bitcoin
• 20:01
  is cool. Or rather Bitcoin will save me
• 20:03
  or would rather maybe I can get rich in this Bitcoin thing.
• 20:07
  It reminds me of a conversation I had with a friend and it was
• 20:11
  this idea of. You know, when e-mail or the
• 20:13
  Internet came out, it started with a small group of grassroots
• 20:17
  hardcore radicals. And then at a certain point it
• 20:20
  got to to the level where everyone just understood, hey, I
• 20:24
  need to use this thing because everyone else around me is using
• 20:28
  this thing. We still really don't have that
• 20:31
  catalyst. We don't even know what that
• 20:32
  catalyst will be. We've been hearing a lot of
• 20:35
  talk, especially from like Michael Saylor saying Bitcoin
• 20:38
  needs an iPhone moment. What is that iPhone moment In
• 20:43
  practice, Bitcoin still has a long way to go.
• 20:48
  There's still a lot of hurdles for us to even use Bitcoin as
• 20:51
  money day-to-day. Even just cold storage and
• 20:55
  saving your Bitcoin. It's not at the, you know, easy
• 20:59
  button, staples button level yet.
• 21:03
  A lot of people I still think are afraid to use Bitcoin,
• 21:06
  whether it's because of the bad Rapid Scott, whether it's
• 21:09
  because they don't want to take responsibility.
• 21:12
  But one of the kind of other wrinkles in this whole idea was
• 21:15
  that, oh, if the US government embraces Bitcoin, then surely
• 21:20
  not too long from now they will see it as money that has yet to
• 21:26
  develop. And arguably it's almost gotten
• 21:30
  worse. As I've showed on yesterday's
• 21:33
  show, as we've been covering lately around the fights of
• 21:37
  privacy, whether Bitcoin is a, you know, a digital asset or
• 21:42
  it's a money, or it's a digital money, or maybe it's a security.
• 21:47
  We the rules of the road, the regulatory clarity around
• 21:51
  Bitcoin, I think has muddy to the water.
• 21:53
  And I will give you an update on the Clarity Act, where we stand
• 21:57
  in a minute. None of the catalysts that we
• 22:02
  were very hopeful of towards the end of 2024 when Trump got
• 22:06
  elected have really materialized.
• 22:09
  Now, you could say maybe I'm being impatient.
• 22:13
  I, I'm, you know, I, I totally think that that could be a case.
• 22:17
  Maybe you could say, hey, you know, government moves very
• 22:21
  slowly. These things happen very slowly.
• 22:24
  Obviously. I think that's a good point, but
• 22:29
  from a OK look, we have nation state accumulation, FOMO
• 22:33
  happening in real time and maybe 1 country, which in hindsight,
• 22:43
  it kind of took a couple of back steps that people aren't really
• 22:47
  using Bitcoin, which is of course, El Salvador.
• 22:50
  And you know, shouts out the naive Boo Kelly.
• 22:53
  He he will always go down as the first country to embrace
• 22:55
  Bitcoin. But when you're being very
• 22:59
  honest about the adoption levels of Bitcoin in El Salvador, yes,
• 23:04
  it's used, yes, it's still marketed as Bitcoin country of
• 23:07
  the world, but a lot of people still aren't using Bitcoin.
• 23:11
  The majority of, of citizens are still not using Bitcoin.
• 23:13
  And so we all thought, hey, this, this is how it's going to
• 23:16
  happen. Even though there is a
• 23:18
  contradiction of Bitcoin being a grassroots movement from the
• 23:21
  bottom up. And now we have this top down
• 23:24
  declaration of it being used and maybe people just have
• 23:28
  completely lost trust in the institutions.
• 23:30
  Now, I think that is a bit hyperbolic.
• 23:33
  I, that's something I would hope for to happen.
• 23:36
  I, I, I, it doesn't make sense to me how people can look at
• 23:41
  what's going on in the world, what's happening from the
• 23:44
  institutions, the amount of corruption we're seeing from
• 23:46
  politicians and even Wall Street.
• 23:49
  And then people still blindly trust these institutions, these
• 23:52
  thought leaders, these, you know, really big names.
• 23:56
  It all just doesn't make sense to me.
• 23:58
  But I mean, it does make sense to me.
• 24:00
  But from my personal bias, I'm like, how do people still
• 24:04
  believe this? I have no idea, but they do.
• 24:09
  We are still the minority here. We're still the black sheeps in
• 24:13
  our family. We're still the ones that can
• 24:16
  see the future and people are still thinking we're stupid.
• 24:20
  We have no idea that we're so detached from reality that we
• 24:24
  have no clue what is going on because they have a totally
• 24:27
  different world view from us in reality.
• 24:31
  Or rather, from my perspective, I think we are still living in
• 24:35
  the future and the rest of the world just hasn't caught up yet.
• 24:40
  So do I think this is probably going to happen?
• 24:46
  I look, I highly doubt it, but you could say it's a non zero
• 24:49
  chance. But I don't see at least down
• 24:53
  this timeline, at least in this parallel universe, I do not see
• 24:58
  the US government giving back 127,000 coins to a alleged
• 25:06
  scammer. And I'm using alleged because
• 25:07
  that's what Bloomberg said. I think they will make the case
• 25:11
  that look, you know, we're going to dismiss your dismissal.
• 25:16
  Cool story, bro. Not going to happen.
• 25:18
  This is ours now. This Bitcoin is ours.
• 25:22
  I think that's what's going to happen.
• 25:25
  Obviously, Chen's lawyers are going to make the case that,
• 25:28
  hey, you know, we got wrongly accused, as you would say.
• 25:33
  Any good lawyer says it's like my, you know, my client's
• 25:36
  innocent. So this, this is where we are.
• 25:42
  It doesn't take away from the point we have literally no clue
• 25:45
  what is happening with the strategic Bitcoin Reserve.
• 25:48
  I don't think we will have a clue for a little while.
• 25:52
  But all of this is starting to come to a point.
• 25:58
  There is a timeline for this. There is a, there is a shot
• 26:02
  clock to this. And again, I made the case that
• 26:06
  it's probably around June, I think it's end of June when all
• 26:11
  of the politicians kind of take their break.
• 26:15
  If nothing happens by the end of June.
• 26:18
  And I know there's there's the idea that, hey, by by the end of
• 26:22
  March, maybe we'll get the Clarity Act passed.
• 26:24
  Maybe this is a lot of, you know, K fob or is it, is it key
• 26:28
  fob? I think it's K fob.
• 26:29
  There's a lot of K fob right now around the Clarity Act.
• 26:32
  The banks and the crypto industry will finally back down,
• 26:36
  and we'll get a resolution to the Clarity Act within a couple
• 26:39
  of weeks. But again, the House essentially
• 26:45
  dismisses around June. And then the midterm kind of
• 26:50
  cycles start to build up. And if the Trump administration,
• 26:55
  or rather the Republicans lose the House, I think the Democrats
• 27:01
  will unleash all kinds of fury against everything that the
• 27:05
  Republicans had tried to do. And then nothing's going to get
• 27:09
  done. That's kind of where we are
• 27:13
  right now. And I know, guys, you come to
• 27:16
  me, especially me here on the show, like Opti, give us some
• 27:19
  opium. The only opium I can give you
• 27:24
  guys is that none of this will eventually matter to Bitcoin in
• 27:28
  the long term. Just stack stats, take it into
• 27:31
  custody, continue to acquire Bitcoin.
• 27:35
  All of this will be noise in a few years when we look back on
• 27:38
  it. But in the short term, it makes
• 27:44
  me think that nothing's going to get done, which could be a
• 27:47
  positive in its own right. So do we know how much Bitcoin
• 27:55
  the US government has? No.
• 27:56
  Do we know if they'll give it back?
• 27:58
  Probably not. It still brings up other
• 28:01
  conversations of is the US government ever going to buy
• 28:04
  Bitcoin? At this point, I'm kind of like,
• 28:07
  probably not, though my gut instinct is telling me that
• 28:12
  they're probably accumulating Bitcoin and they will announce
• 28:19
  it at some point. And let's, you know, let's let's
• 28:24
  put the other kind of obvious thing on the table.
• 28:28
  Yes, if you're like a trader and you were able to ride the four
• 28:33
  year cycle, like Trump gave us the all time high, you know,
• 28:37
  after the November elections, it went to 100K, got us back up to
• 28:41
  100K when the economy was contracting.
• 28:44
  We did hit all time high in October and now here we are and
• 28:50
  we're like, OK, we're we're in a bear market.
• 28:52
  So like, hey, if you were able to time the top and you're
• 28:55
  trading and you're getting bit count Bitcoin for cheaper right
• 28:58
  now, you're probably happy. You're probably like, hell yeah,
• 29:01
  thank you Trump. I was able to make a perfect
• 29:04
  trade. Most people can't make a perfect
• 29:06
  trade. Again, long term view, I don't
• 29:09
  think any of this really matters.
• 29:10
  Short term view, is anything going to get done?
• 29:16
  From my opinion, probably not. Does this change my view of
• 29:20
  Bitcoin at all? Not at all.
• 29:23
  Again, I've I've said this a lot of times to you guys.
• 29:26
  I I initially came to Bitcoin with the idea of being in a
• 29:30
  political money. I've I've always been pretty
• 29:32
  apolitical. I voted once I felt I got
• 29:36
  scammed, I completely tuned out. Then I found Bitcoin.
• 29:40
  I was like, oh hey, a political money.
• 29:42
  This is awesome. No one controls this money.
• 29:46
  Awesome. It has no real, you know,
• 29:48
  partisan divide on this money. This is awesome.
• 29:53
  As you guys know, since a year ago, I've had to definitely
• 29:58
  start to get my chops up on politics because that's where we
• 30:01
  are right now. And I know you guys have been
• 30:03
  trolling. Simply politics.
• 30:05
  Hey, this is a cultural commentary show on what's
• 30:08
  happening in the world currently and how Bitcoin relates to that.
• 30:13
  So, you know, I'm doing my best. I'm I'm trying to update my
• 30:18
  thinking so that we can be, as we like to say, tomorrow's
• 30:23
  Bitcoin news today. I try to do my best to make sure
• 30:27
  we have a framework together collectively.
• 30:29
  You guys in the chat, you know, maybe not today, but usually
• 30:32
  I'm, I'm in the chat, I'm reading what you guys are
• 30:35
  saying, I'm ingesting it. I'm trying to see different
• 30:38
  points of views so that I'm not as biased or rather I can see my
• 30:42
  own bias and and we can be objectively on the signal on the
• 30:47
  truth right now. I'm not going to lie, I'm a
• 30:53
  little black pilled on Bitcoin and politics on the US strategic
• 30:56
  Bitcoin Reserve. That's just where I am right
• 30:59
  now. I'm pretty hopeful on the
• 31:01
  Bitcoin price. I know you guys are like, hey,
• 31:03
  we're at 70K. I'm dude, I'm starting to get a
• 31:07
  little bullish. I'm not going to lie, I'm like,
• 31:09
  man, I'm a wig off maxi now. So again, I am ATA tea leaf
• 31:15
  reader and I'm like, it might break out next week, boys.
• 31:20
  Like we might be back. If that happens, know that I'll
• 31:24
  come on the show and I'll be so bullish that you guys will, you
• 31:28
  know, lose your minds just as I'm losing my minds.
• 31:31
  But when it comes to what we're seeing coming out of DC, again,
• 31:34
  you could say I need some patience.
• 31:36
  Sure. I'm just not that bullish on
• 31:39
  what's happening there. OK.
• 31:41
  Anyways, simply Bittix. That's a good one.
• 31:45
  That's a good one. OK, guys, it's been a great run.
• 31:49
  Until next time. Yeah, 100%.
• 31:52
  All right, guys, as I told you right now, I'm going to play you
• 31:55
  a clip from the Bankers Association.
• 32:00
  The CEO is talking about the Clarity Act and where we stand.
• 32:05
  I do have a couple of updates and then I do have a guest
• 32:08
  today, Jay from the Beef Initiative.
• 32:11
  If he pops in early, maybe we'll just talk about beef and, and
• 32:15
  where we currently are and what they're building.
• 32:16
  If I have a little more time, I do want to talk about our boy
• 32:20
  Fernando's company Bitcoin Perception.
• 32:22
  And it really does lean into what you guys have been saying,
• 32:25
  like the narrative around Bitcoin is, is starting to get a
• 32:28
  little more positive. So maybe I'll be able to sneak
• 32:31
  that in if, if Jay comes in a little late.
• 32:34
  Anyways, on that note, first commercial break, I will be
• 32:36
  right back. Today's episode is brought to
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• 34:49
  All right, we're back guys. I'm sorry.
• 34:52
  You guys are funny in the chat, You guys are.
• 34:54
  You guys are making me feel a little better getting trolled.
• 34:56
  And then also there's some funnies in the chat.
• 34:59
  Anyways, the current Bitcoin price is $70,970.
• 35:03
  So hey, hey again, let me reel it back in.
• 35:07
  Let me reel it back in. In the face of what we've been
• 35:10
  seeing in the world in the last two weeks, the general
• 35:13
  uncertainty, the general chaos in all of the markets, the the
• 35:18
  literal extreme volatility we've seen in more traditional
• 35:21
  investments, Bitcoins been holding up extremely well.
• 35:25
  That is the bullish signal here. I know, I know, a lot of people
• 35:28
  always say, hey, price of Bitcoin doesn't matter.
• 35:30
  I beg to differ. The fact Bitcoin is holding up
• 35:33
  very well at 70K, I think it's I think that's the the main signal
• 35:39
  going on right now. That's my take.
• 35:42
  I'm a hold to it. Anyways.
• 35:44
  The discount from all time high is 43.7%.
• 35:46
  The market cap we are holding on to the $1.42 trillion market cap
• 35:51
  and the current block height is 940,291.
• 35:55
  OK guys. So as I was saying there was AI
• 36:00
  don't know if this is conference or what have you, but we have a
• 36:06
  clip of the CEO of the American Banking Association, Rob Nichols
• 36:12
  and this is his take on the Clarity Act and where the
• 36:18
  banking industry side against the crypto industry.
• 36:25
  We all know the main contention here is on yield of stable coins
• 36:30
  or rewards. Whether you holding stable coins
• 36:34
  as an individual, should you be getting you know 3% yield on it
• 36:39
  or should you just be stuck with the whatever .01% increase on
• 36:44
  your savings account as a bank? That's been the main contention
• 36:48
  because as we've shown on this show, the statistics show that
• 36:54
  the banks would lose out in a lot of money.
• 36:57
  So let me play this clip real quick.
• 36:59
  I will be right back and I'll I'll give you probably this
• 37:02
  cynical, you know Bitcoin take here.
• 37:05
  But here's the clip. Let me reiterate something right
• 37:09
  up top. Our industry welcomes
• 37:11
  competition and innovation and many banks are eager to offer
• 37:15
  products and services in the digital asset marketplace.
• 37:19
  What we don't support is an uneven playing field where new
• 37:22
  entrants want to offer bank like products without having to
• 37:26
  comply with bank like rules or even worse, push for a
• 37:30
  regulatory framework that puts consumers, the financial system
• 37:34
  and the economy at risk. We can't let that.
• 37:39
  What happened? Yeah, the gas lighting is so
• 37:43
  real. That's crazy.
• 37:47
  Yeah, the gas lighting is nuts. OK, the last I'm going to go.
• 37:50
  I'm going to start with the last point first.
• 37:53
  Remember a long time ago I used to tell you guys on the show
• 37:58
  that when the traditional financial system, the Fiat
• 38:03
  system, gets in trouble, they will start to blame Bitcoin for
• 38:08
  their failures? I've shown you these examples
• 38:11
  constantly. That last part sounded exactly
• 38:15
  like that same kind of theme that oh, if stablecoin yield it
• 38:21
  literally, it sounds insane. If stablecoin yield is allowed,
• 38:26
  if you're able to get, you know, 3% rewards back on your savings,
• 38:30
  then that's going to be a problem for the entire economy.
• 38:35
  It's like, what are we talking about?
• 38:37
  This is not our failures. And I'm not even the biggest
• 38:40
  stable coin, you know, advocate. I realize I, I acknowledge that
• 38:45
  people like stable coins, that there is a growing market for
• 38:49
  the use of stable coins, but to say that stable coins are going
• 38:53
  to literally bring down the economy is like, that's insane
• 38:57
  to me. And then the first part goes
• 39:01
  into this. What I'm just saying, he comes
• 39:03
  out there and he's like, Hey, I am.
• 39:05
  So we're so open the bank, the bankers are so open to
• 39:09
  competition, but we need a level playing field.
• 39:13
  And you're like, OK, you know, the rhetoric sounds good, sounds
• 39:18
  great. Like I agree everyone should
• 39:20
  have a level playing field, but what does that actually mean?
• 39:26
  From my take on where the banks stand against the crypto
• 39:30
  industry, it sounds like the banks just want to keep their
• 39:34
  their regulatory Moat. They just want to make sure that
• 39:37
  no up and coming competitor can compete with traditional banks.
• 39:41
  That's kind of what I hear when he says that.
• 39:45
  On the flip side, it's like, OK, if you want a level playing
• 39:47
  field, then you know, maybe every bank should be fully
• 39:51
  reserved. You know, all stable coins are
• 39:54
  quote, you know, backed one to one.
• 39:57
  Maybe the bank should do that. Maybe like maybe he is right.
• 40:01
  Maybe we should get on a level playing field.
• 40:06
  It's absolutely nuts. OK, here's a screenshot though
• 40:09
  before this came out. And this is, you know, nice,
• 40:13
  good morning from the banks to the White House, bold strategy.
• 40:15
  It's like you think they don't have other things they need from
• 40:18
  this administration, the Bank Secrecy Act, reform, regulatory
• 40:22
  tailoring, Basil, three capital requirements, etcetera.
• 40:25
  And here is like the official press release before this
• 40:29
  conference or I don't know what Bankers Association conference
• 40:34
  sounds weird to me. Anyways, they say, you know,
• 40:37
  regarding the clash between Wall Street and crypto firms, they
• 40:41
  went out and they talked. Of course, this was like the
• 40:43
  opening speech. And it goes, banks are at odd
• 40:45
  with crypto companies over whether digital assets exchange
• 40:48
  should be able to offer rewards programs that pay yield to
• 40:50
  stablepoint holders. And of course, Nicholas plans to
• 40:53
  acknowledge this in a recent post from Donald Trump.
• 40:58
  And here's a quote it goes. We don't like to be at odds with
• 41:01
  the White House on any issue, especially when we agree on so
• 41:04
  much. But we believe there's still too
• 41:07
  much at stake to the customers and the communities you serve to
• 41:10
  roll the dice and get this wrong.
• 41:13
  So 10, I didn't pull it up. One thing that you are starting
• 41:19
  to see is that ever since Trump put his hat in the rink last
• 41:25
  week in this idea of the bank shouldn't be holding up the
• 41:29
  Clarity Act, and they really want to get the Clarity Act
• 41:32
  pushed through. You are starting to see a
• 41:35
  slightly different tune come out of the the bankers at large.
• 41:40
  They're like, OK, you know, we can't really fight Trump here.
• 41:44
  Or rather, we don't want to fight Trump here, though again,
• 41:49
  there could be some form of delay tactics.
• 41:53
  They could just be trying to run the clock out here.
• 41:57
  Again, who knows what's going to happen in these these midterms.
• 42:00
  Who knows what the aftermath of that will be, but we could be
• 42:05
  seeing the banks trying to run out the clock because they think
• 42:08
  they might get a more favorable outcome after the midterms.
• 42:15
  I saw a couple congressmen saying like it's, it's an
• 42:18
  absolute, you know, tragedy, devastation that the banks would
• 42:24
  stop the Clarity Act from passing.
• 42:27
  Is it really, though? I, I know it's political
• 42:30
  rhetoric, but I don't, I don't really think so.
• 42:35
  I, I really think that they are trying to keep the regulatory
• 42:39
  melt. They're trying to protect
• 42:40
  themselves. They don't want to compete and
• 42:44
  stable coins will make them have to compete and update their
• 42:48
  business models. I think Bitcoin will
• 42:51
  fundamentally change all of the business models that we
• 42:55
  currently take for granted, or rather that most people take for
• 42:58
  granted. I think that's kind of the
• 43:00
  beauty of Bitcoin, the Trojan horse.
• 43:01
  Hey, a new money, update the banking system, update your
• 43:05
  money, update your digital money 'cause you know, most money's
• 43:08
  already digital anyways, like you, you got to adapt this 21st
• 43:12
  century, Let's adapt to new technologies.
• 43:16
  It seems like the banks are still kind of fighting it.
• 43:18
  But hey, I'm sure we'll get some other update and some other news
• 43:22
  before the end of the month and, and we'll have a, a clearer idea
• 43:26
  of where we stand with the Clarity Act, whether it's going
• 43:28
  to pass, whether you know, nothing ever happens.
• 43:32
  OK guys, quick commercial break. I'll be right back.
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• 46:11
  I have our guests for today. We got Tom and James from
• 46:14
  beef.com as you guys probably know the Beef initiative.
• 46:18
  How you guys doing guys, Can you hear me?
• 46:20
  Can I hear you guys? We're doing great.
• 46:22
  OK, great. Yes, I can hear you.
• 46:24
  OK. It is a little quiet, so I don't
• 46:26
  know what what mics you're using, but yeah, there we go.
• 46:31
  There we go. OK.
• 46:32
  Guys. You can you hear us OK?
• 46:34
  Yeah, I got you guys so awesome. OK.
• 46:36
  So look, I wanted, I want to, I think to start off here, I do
• 46:43
  want to just talk about the general problem of, of beef and
• 46:47
  where we currently are and then one commercial break and then
• 46:50
  we'll talk about what you guys are working on and and you know,
• 46:53
  what the latest things you guys have been doing at the beef
• 46:55
  initiative. But first of all, I think for a
• 46:58
  lot of people, obviously, I think everyone here knows like
• 47:01
  I'm huge carnivore. I always talk about, hey, eat
• 47:03
  meat, you know, get your sunlight, all that good stuff.
• 47:06
  But I think a lot of people, I think fundamentally don't know
• 47:10
  what the problem is. So, you know, as as I don't want
• 47:14
  to say quickly, but could you easily explain what is the
• 47:18
  problem in regards to beef? Or rather you know, the the meat
• 47:22
  that probably everyone is getting at home.
• 47:25
  And then you know, how can we solve this and what can people
• 47:28
  do? Sure.
• 47:30
  I can take that. Well, there's a couple of
• 47:33
  problems. We we when we go buy our beef at
• 47:36
  the supermarket, a lot of carnivores are looking for grass
• 47:39
  fed, grass finished. And that's the label that they
• 47:41
  have in the 1 LB pack of ground beef there.
• 47:43
  But the reality is that's not necessarily the truth.
• 47:46
  And there's a lot of deception in packaging.
• 47:48
  There's a lot of deception in how beef moves around the world.
• 47:51
  There's four primary companies that control 82% of the beef in
• 47:55
  the world in the United States, and two of them aren't even in
• 47:58
  the United States. One's out of Brazil, JBS.
• 48:00
  So there's some central realization going on in the beef
• 48:03
  industry that people aren't aware of that control.
• 48:06
  A lot of the outcomes that we have, we don't know where the
• 48:10
  beef comes from. We don't know how many different
• 48:11
  cows are in 1 LB package of beef.
• 48:14
  So that's a problem. Find directly from your rancher
• 48:16
  is the best way to know exactly what you're getting is what
• 48:19
  you're serving your family. And James is actually a beef
• 48:22
  rancher here in El Salvador from Australia.
• 48:24
  So he's part of our team here at the Beef Initiative and yeah,
• 48:29
  we, we have a number of problems with that, that we aren't buying
• 48:31
  what we know we are. The other problem is that the US
• 48:34
  cattle herd is the lowest inventory it's ever been in the,
• 48:37
  in its history and that Brazil just passed the US in terms of
• 48:42
  exports of cattle out of their country.
• 48:44
  So the beef industry is being decimated within the US state,
• 48:48
  within the US borders. And that's not being addressed
• 48:51
  in mainstream media 'cause there's lots of other news
• 48:53
  happening right now. And that other news that's
• 48:55
  happening right now could lead to massive food shortages.
• 48:58
  So looking at seriously where your beef comes from, having a
• 49:01
  local connection to ranchers, becoming a beef rancher yourself
• 49:05
  or being a partner as an investor in a ranch is a smart
• 49:08
  idea. But those, those are some of the
• 49:10
  big overarching problems that we have.
• 49:12
  And then here in El Salvador, this is where James and I are
• 49:14
  right now. We're working with the country
• 49:16
  of El Salvador to help bring more secure food security to the
• 49:20
  country with the gold standard of agriculture.
• 49:23
  Incredible. Incredible.
• 49:24
  OK, I, I, I, I don't want to say that it's like we're, we're
• 49:34
  being doomer this year, but there has been a lot of talk for
• 49:38
  I think many years, especially in like the prepper communities
• 49:41
  and and of course further than the Bitcoin communities.
• 49:43
  But you said something I think there that might alarm a lot of
• 49:47
  people. It's like, what is this timeline
• 49:50
  in your opinion of there being an actual like beef shortage or
• 49:53
  food shortage in the US? Is there some kind of huge, I
• 49:58
  don't know, a, a pop apocalyptic scenario that would cause it?
• 50:01
  Or is this just, we're just going to run out?
• 50:04
  Like it's just unsustainable in the way that it's currently
• 50:07
  being, you know, manufactured in the way that the current farming
• 50:10
  techniques are in the US or cattle techniques are.
• 50:13
  Well, I can say this, I was in Amarillo just about a month ago,
• 50:16
  and there's a small little minor snowstorm there.
• 50:19
  And then that minor snowstorm, the food, the supermarkets were
• 50:22
  wiped out for two days. The shelves were empty.
• 50:26
  So if we look at our centralized food system and its fragility,
• 50:29
  there's quite a bit of fragility to it.
• 50:31
  And if there's some sort of global macro events happen in a
• 50:34
  world that might cause food fuel or other types of shortages,
• 50:38
  those can have massive ramifications.
• 50:40
  I'm not being a doomer here either.
• 50:42
  I'm just looking at the reality of of what's happening in our
• 50:45
  world right now and what is the nature of our food system that
• 50:48
  we currently have and what are the protections you have for you
• 50:51
  and your family? Got it.
• 50:53
  OK, All right, yeah, 'cause the, the chat yells at me a lot and
• 50:57
  they're like, dude, like Opti, you, you call yourself optimist,
• 51:01
  but you're a doomer all the time.
• 51:03
  I'm like, look, I know, I know some of the conversations that
• 51:06
  we have here, like we got to make them a little more
• 51:08
  lighthearted. But that's kind of the reality
• 51:11
  of the situation that we currently in is like a lot of
• 51:14
  the conversations aren't that pretty and they're kind of hard
• 51:17
  and we have to face them head on or else we can't really fix
• 51:22
  them. So that's kind of what we've
• 51:24
  tried to do actually before before we really get into like
• 51:27
  what, you know, what the fixes are.
• 51:29
  I, I do have a personal question here.
• 51:32
  When you said, you know, the ground beef that you get at a
• 51:35
  supermarket or what have you, or from a major packaging plant or
• 51:40
  you know, just the, the normal brands that you usually get, you
• 51:42
  said there might be multiple cows in that single ground beef,
• 51:48
  you know, pound of beef that you buy at the stores now.
• 51:51
  Is there like a nutritional decline that you're seeing?
• 51:56
  Like what? What are the actual impacts to
• 51:58
  me like as a person eating you know, one ground 1 LB of ground
• 52:02
  beef from like you know who knows how many cows?
• 52:07
  Well, I mean, if you can't verify the sources that you
• 52:09
  don't know what those cattle were fed, OK, you don't know how
• 52:13
  they were raised. And I would even just say it as
• 52:16
  a just from a simplistic standpoint, I if I want to buy a
• 52:24
  pound of ground beef, I want it to be from the one cow.
• 52:28
  It's kind of gross to me actually, if I don't know if
• 52:32
  maybe came from 1000 different cows, it's actually just it kind
• 52:35
  of gives me the heebie jeebies a little bit.
• 52:38
  I don't want that. I want it to come from that one
• 52:40
  animal. And in the major meat packet of
• 52:45
  processing plants, there's thousands of cattle that move
• 52:48
  through a day. It's a very large operation.
• 52:50
  And keeping those separate, that sort of thing, that's not the
• 52:53
  concern. The concern is centralized
• 52:55
  profit making. Absolutely, yeah.
• 52:57
  OK, all right, got it. OK, let let's hit on that real
• 53:00
  quick. The idea I know in Bitcoin
• 53:03
  obviously the the big idea of decentralization.
• 53:08
  Could you unpack the centralized just like meat industry?
• 53:12
  Is that even fair to say? Centralized meat industry?
• 53:16
  Absolutely. OK, OK.
• 53:18
  So like. What Homeless people way too.
• 53:21
  It's, it's very centralized. As I mentioned, there's four
• 53:24
  companies that control 82% of the beef in America, but that's
• 53:27
  also global corporations that are moving meat around that
• 53:30
  they've, they've bought up all the other ones.
• 53:33
  Just this week, the Greeley, the plant in Greeley, Co, which is
• 53:37
  where I used to work and look nearby the, the, the union
• 53:42
  decided to strike on that major processing plant there.
• 53:45
  The head company, JBS shut it down a week early before the
• 53:48
  strike. And they're actually pressuring
• 53:51
  workers at low wages. They're centralizing.
• 53:54
  So they're, they're taking profit at every step of the way
• 53:57
  they can. The ranchers, when they come to
• 53:59
  market with their cattle, there's not a, there's not a
• 54:02
  fair price for that. It's actually manipulated by
• 54:05
  those that control the system. And so it's, it's that there's a
• 54:09
  lot of things that if you're not a big player, you're, you're the
• 54:13
  one that's actually the, the, the yield's been extracted from
• 54:15
  both on the worker side and on the rancher side and on the, and
• 54:19
  on the consumer side as well. Yeah, it's just, it's just, it's
• 54:22
  just a corrupt system basically. And, and I, I guess to expand on
• 54:27
  that a little bit, I would just say that like your listeners,
• 54:32
  they're interested in freedom tech, right?
• 54:34
  Bitcoin, Noster, lightning layer twos, we're interested in
• 54:38
  freedom tech. I would say beef is freedom
• 54:40
  tech. The the ability to feed yourself
• 54:43
  and your family like the best food in the world.
• 54:46
  That is a form of sovereignty. Like yeah, is freedom tech. 100%
• 54:53
  I I would totally agree with that.
• 54:56
  Now again, the chat knows I am kind of AI should be wearing a
• 55:01
  tinfoil hat here. This this hat should be tinfoil.
• 55:03
  OK everyone, everyone that watches it knows I'm a little
• 55:07
  tinfoil Y conspiracy theorist so forgive me.
• 55:11
  You're noticing. Things yeah, for so forgive me
• 55:14
  for asking this question, but and you know, plead the 5th if
• 55:18
  you want to, but do you think this is the a coordinated effort
• 55:22
  for, you know, controlling humans behavior or is it just
• 55:26
  because of the economics of the situation that this is where we
• 55:29
  currently are? No, it's absolutely coordinated.
• 55:32
  I mean, Henry Kissinger is on the record as saying if I can
• 55:35
  control the food supply, I can control the nation.
• 55:38
  I'm paraphrasing the quote a little bit there, but he pretty
• 55:41
  much said that give me control of the food supply and I'll do
• 55:45
  whatever I want with the country.
• 55:46
  He said something along those lines.
• 55:48
  So it's absolutely coordinated. There are unfortunately
• 55:51
  parasitic elite types that want to control how other people
• 55:55
  live. And one of their ways to do it
• 55:59
  is obviously the money printer. And another way to do it is to
• 56:03
  mess with the food supply and control the food supply.
• 56:05
  Centralized the food supply. And whenever we see an
• 56:08
  authoritarian governments rise to power throughout history, the
• 56:10
  very first thing they attack is the food system, because if you
• 56:13
  don't feed the people, they can't revolt.
• 56:16
  And so we've seen that over and over again.
• 56:18
  Communism has given us many wonderful examples of horrific
• 56:21
  examples of what I really mean of what's happened in in the
• 56:25
  killing fields in Russia and many places around the world.
• 56:28
  More it's been, it's been quite atrocious.
• 56:30
  So we may be seeing that now. It's worthwhile to pay attention
• 56:35
  to understand what the control grid is and what they're trying
• 56:37
  to do by putting this into control grid.
• 56:40
  Understand what a 15 minute city is, understanding what digital
• 56:43
  IDs are the precursor to CBDCS, that digital IDs are the first
• 56:47
  step going towards CBDCS and we see that happening.
• 56:50
  As a Bitcoiner, we all think that Bitcoin is going to save
• 56:52
  us, but not without action. Just holding bitcoins not
• 56:55
  enough. We have to actually take action
• 56:57
  to fight back against the systems that are trying to put
• 56:59
  us in 15 minute cities. Yeah, I, I literally said that
• 57:03
  yesterday. I think it was yesterday on on.
• 57:06
  No, I think it was Monday's show.
• 57:08
  Wait, I, I don't remember. It's it's all a blur.
• 57:10
  But I was literally saying on the chat and they and I, I did
• 57:13
  get a little push back. I'm like, look, I, I
• 57:16
  fundamentally believe in Bitcoin, but as we start to see
• 57:20
  what's happening in the world, just like stacking sats and
• 57:23
  chilling is like only the beginning of what you need to
• 57:27
  do. You you definitely need to save
• 57:30
  in Bitcoin. Get yourself in a financially,
• 57:32
  you know, beneficial position where like you can do other
• 57:35
  things. But if you're just stopping at
• 57:38
  saving in Bitcoin, like there's still a lot of stuff that we can
• 57:41
  we can do individually, whether it's hard, whether it's a big
• 57:44
  thing or just small thing like, I don't know, you know, getting
• 57:47
  in touch with your local ranchers out here because or,
• 57:50
  you know, getting yourself a good meat supply or what, what
• 57:53
  have you getting involved with your local community.
• 57:55
  Like there's a lot of things that we can do as Bitcoiners
• 57:58
  that goes above and beyond just stacking Bitcoin.
• 58:02
  And so I'm, I'm totally on board with this and I've, I've, you
• 58:05
  know, in the past, I just moved to Miami.
• 58:08
  So I'm still trying to figure out my my good meat sources down
• 58:11
  here. But when I was living in Texas,
• 58:14
  for instance, I was definitely ordering really good meat,
• 58:17
  stocking up my freezer for the month and being and eating
• 58:20
  really, really good. And I was like, all right, this
• 58:22
  is great. I absolutely love this.
• 58:25
  One last question before I hit the transition and then we'll
• 58:28
  talk particulars about what the beef initiative is doing and
• 58:30
  what you guys have been up to is since we are seeing this, you
• 58:36
  know, economies of scale situation play out in regards to
• 58:40
  our food supply. I know I've, I've heard some
• 58:43
  conversations of course in the past with you guys and and other
• 58:47
  people at your organization about just how this is squeezing
• 58:50
  out the small farmer. And I think probably I think I
• 58:53
  could, I could venture to guess that most people in the chat
• 58:57
  have never gotten in touch with a small farmer.
• 59:00
  And you know, they're just so used to going to the grocery
• 59:03
  store and getting some meat. So like, what, what is all of
• 59:06
  this doing currently for the small farmer out there, the
• 59:11
  small cattle rancher? It feels like they're just
• 59:13
  getting completely squeezed out. And I know we live in like a
• 59:17
  modern technological world, but we still need farmers and cattle
• 59:21
  ranchers or else like, how are we going to eat?
• 59:23
  We're literally just going to let 4 corporations rule all of
• 59:26
  our food. So from the other perspective,
• 59:29
  what are you seeing right now from small farmers?
• 59:31
  Are they also struggling like the majority of people are?
• 59:35
  Has the numbers of small farmers dwindled?
• 59:37
  You know, maybe talk about a little bit from the, the small
• 59:40
  cattle ranchers perspective that maybe I've been legacy, you
• 59:44
  know, ranchers for a long time and now they're in all kinds of
• 59:48
  trouble like everyone else. Yeah, I, I see, we, we see 57
• 59:53
  ranches a day close being wiped out in America right now.
• 59:57
  And the tragedy of it is there's we're also seeing a huge rise of
• 1:00:01
  suicides much ranchers because they're multi generational
• 1:00:04
  ranches that they're the generation that it finally
• 1:00:06
  stopped on. And that's coming from a
• 1:00:09
  centralized system, that's coming from taxation.
• 1:00:11
  I saw that in my own family that taxation wipes it out after
• 1:00:14
  three generations. Just government programs that
• 1:00:18
  ranchers have to sign up for to survive economically.
• 1:00:21
  That force them into behaviors that not, that are not in their
• 1:00:23
  best interest. And we just see the devastation,
• 1:00:28
  the centralization, the economies of scale, I believe is
• 1:00:30
  a Keynesian concept, that it actually only works with
• 1:00:33
  Keynesian economics. And that what really is, is when
• 1:00:37
  we go to Austrian economics, when we go to Bitcoin, that will
• 1:00:39
  actually see as a decentralization, which is the
• 1:00:42
  application of capital in the same system where you want to
• 1:00:45
  spread risk across many, many different people.
• 1:00:47
  So if anyone particular part fails, it doesn't bring the
• 1:00:50
  whole system down. And we've had this before.
• 1:00:52
  There's been debate about this. Can we actually, is that even
• 1:00:54
  possible? Well, yeah.
• 1:00:55
  Every county in Texas previously had its own meat processing
• 1:00:58
  plant. Now it's reduced to very, very
• 1:01:00
  few. So we've seen the centralization
• 1:01:03
  and the the fragility of it. This Greeley plant that's about
• 1:01:06
  to close down in Colorado is a major, major plant.
• 1:01:08
  They're going to move production to the other major plants, but
• 1:01:11
  they're actually increasing the risk, the fragility of our food
• 1:01:14
  system by having fewer and fewer meat processing plants.
• 1:01:17
  And so one of the things we're doing is actually helping with
• 1:01:19
  that. James here in El Salvador runs
• 1:01:21
  our local farmers market and sells beef at that.
• 1:01:24
  And it helps support local farmers and ranchers here in El
• 1:01:26
  Salvador. And that's a circular economy.
• 1:01:28
  That's the Bitcoin circular economy that we can do worldwide
• 1:01:31
  as well. Absolutely.
• 1:01:33
  I mean, this is this is the beauty of decentralization.
• 1:01:36
  Yes, I want to see millions of. Yeah, yeah.
• 1:01:40
  Yeah, incredible. OK, so I I do want to unpack
• 1:01:43
  that 57 numbers. So you say 57 ranchers, farmers
• 1:01:47
  closing down a day. Yes.
• 1:01:49
  What's what's the like? I don't know the total number
• 1:01:52
  right now of ranchers so that people can maybe have a context
• 1:01:56
  of like how bad the situation is.
• 1:01:59
  The situation is so bad that within four years we're going to
• 1:02:02
  see 40% of our ranches. So instead of just hard here's
• 1:02:04
  the percentages that 400 ranches go away.
• 1:02:07
  Part of that is we saw 7.2 billion dollars are pulled out
• 1:02:13
  of the American agricultural system due to China now buying
• 1:02:18
  their beef from Brazil. And it was a coordinated plan
• 1:02:20
  that now we don't have a bunch of agriculture that we had China
• 1:02:24
  previously bought is now coming from Brazil and it's never
• 1:02:27
  coming back to America. So that alone one one thing that
• 1:02:31
  the government cannot fix in any sort of way, it's now gone
• 1:02:34
  forever. And that's spells doom for a lot
• 1:02:37
  of ranchers. But there is a possibility of
• 1:02:39
  bringing this all back. And I think bitcoins a big part
• 1:02:41
  of that solution. Absolutely.
• 1:02:42
  I mean, we have the hardest money in the world on our side
• 1:02:45
  now that is that is a big help. So there is, I mean, I'm not, I
• 1:02:49
  may sound black built, but I'm very, very much built in all of
• 1:02:51
  this. Awesome, awesome.
• 1:02:54
  OK, All right, so last commercial break and then since
• 1:02:58
  we ended on a more positive note, then we will end on a on a
• 1:03:03
  black pill doomer show here. You know what, we'll give some
• 1:03:06
  hope here. So quick commercial break guys,
• 1:03:08
  and then we'll we'll maybe talk about how we can turn this ship
• 1:03:12
  around. So we'll be right back.
• 1:03:15
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• 1:03:58
  All right, guys, we are back. OK, So, you know, adding on to
• 1:04:03
  the last conversation, actually, maybe, maybe we start with
• 1:04:06
  James. Actually, I don't know if you
• 1:04:08
  remember James, but I've been down to your house with my
• 1:04:10
  friend Isaac and there was a great you guys had Yeah, the
• 1:04:15
  amazing beef steak. It I had so much fun.
• 1:04:18
  It was it was super great time. And before that was AI don't
• 1:04:21
  even know now like 3-4 years ago now, I think it was Yo.
• 1:04:27
  And at the time you weren't you weren't a a rancher and now you
• 1:04:31
  currently are. So let's talk about what you've
• 1:04:33
  been doing in El Salvador for the people.
• 1:04:35
  Maybe you'll give them some ideas of, hey, maybe they can,
• 1:04:38
  you know, make a pivot and maybe they want to be ranchers.
• 1:04:40
  I, I don't know. So let's talk about your journey
• 1:04:43
  and then we'll talk about the broader things that the Beef
• 1:04:45
  Initiative or beef.com is doing now.
• 1:04:49
  Yeah, sure. Basically from my perspective,
• 1:04:55
  COVID really woke me up. I was a Bitcoiner before that,
• 1:04:58
  but COVID, it made me pretty angry, shall we say, the, the
• 1:05:04
  lockdowns and all of that. And I kind of went down the
• 1:05:08
  rabbit hole of, OK, there is a parasitic class that's want to
• 1:05:12
  control how I live my life and what kind of food I eat.
• 1:05:16
  So I just slowly puzzle puzzle started getting into the beef
• 1:05:21
  industry slowly here. I'm from Australia slash New
• 1:05:25
  Zealand originally, sadly that those both of those countries
• 1:05:29
  have gone down the tubes as far as I'm concerned.
• 1:05:32
  And I saw a lot of beautiful potential in El Salvador and I
• 1:05:37
  just slowly started working on it.
• 1:05:39
  So I started meeting ranches here and you know, now we have
• 1:05:44
  our own ranch now we have the beef back better ranch.
• 1:05:47
  You know, it was quite a process.
• 1:05:50
  It was quite a few headaches, but it's been one of the most
• 1:05:54
  rewarding things ever. And shout out to Owen as well,
• 1:05:59
  who is, you know, the original founder of Beef Back Better.
• 1:06:02
  You know, I was learning from him four years ago.
• 1:06:06
  Owen had other things to do. And so he, yeah, he's not enough
• 1:06:11
  Salvador anymore, which we miss him dearly.
• 1:06:14
  But yeah, I just sort of tried to carry the torch from Owen and
• 1:06:19
  yeah, now we have the ranch. And now honestly, the way that I
• 1:06:22
  can say it, I've said this to to Tom and to Slim and to everyone
• 1:06:27
  on the Beef Initiative team is like, it feels like the
• 1:06:29
  cavalry's arrived now with with the Beef Initiative being here,
• 1:06:35
  you know, because it's been a slug, right?
• 1:06:37
  It's been, it's been, it's been a lot over the years.
• 1:06:40
  But now you guys are here and we're working together and it,
• 1:06:43
  it feels like the cavalry has arrived.
• 1:06:46
  I guess the other part of that to answer your question was,
• 1:06:50
  yeah, do the Bitcoin farmers market as well.
• 1:06:53
  I'm the founder of that. We were in Zante for, yeah, two
• 1:06:57
  and a bit years and we're in Club Coca, which is right around
• 1:07:01
  the corner anyway. And I'm very, very proud of that
• 1:07:05
  as well because it's kind of like a very interesting place
• 1:07:08
  where it is a Bitcoin made-up, but it's not a Bitcoin made-up
• 1:07:12
  in the sense where people are having talks, people are doing
• 1:07:16
  speeches or anything like that. It's just a place where a whole
• 1:07:19
  bunch of people that are interested in Bitcoin and
• 1:07:21
  freedom tech come together and they just trade.
• 1:07:24
  And it's a nice little hub where expats and locals kind of get to
• 1:07:28
  know each other, learn each other's languages.
• 1:07:32
  Yeah. That's that's pretty much me.
• 1:07:34
  That's awesome. That's awesome.
• 1:07:36
  I, I think the next question, I'll pass it over to Tom since
• 1:07:38
  he said, you know, feels like the cavalry has arrived.
• 1:07:41
  So what has the beef initiative done in El Salvador?
• 1:07:45
  And then we'll talk about, you know, the global move here.
• 1:07:48
  What We'll start with the El Salvador story, and then we'll
• 1:07:50
  go into the broader picture. Thanks so much for setting it
• 1:07:53
  up. Yeah, at Bitcoin Historical just
• 1:07:56
  in November, which is El Salvador's Bitcoin conference,
• 1:07:58
  they held here through the Bitcoin office and Stacy
• 1:08:00
  Herbert, they announced at the very end of the conference that
• 1:08:04
  there is a historic agreement between Texas Slim, the founder
• 1:08:07
  of the beef initiative, and the country of El Salvador to bring
• 1:08:11
  a better beef genetics here to this country.
• 1:08:13
  And we're doing that in real time right now.
• 1:08:16
  We have the cattle going into quarantine very soon so they can
• 1:08:19
  actually be flown down here to El Salvador and restart the El
• 1:08:22
  Salvador heritage of cattle here.
• 1:08:24
  The the cattle here, they the genetics are not that great.
• 1:08:28
  They've been through war-torn decades and there's a lot of
• 1:08:31
  skinny rib showing cows down here and we're bringing the very
• 1:08:34
  best of Texas genetics down here and cross breeding those with
• 1:08:38
  their cattle here to build a whole new Salvador heritage
• 1:08:40
  brand, which is freaking amazing.
• 1:08:42
  I'm so honored to be a part of that.
• 1:08:44
  I'm so honored to be working with Oscar, the Ministry of
• 1:08:47
  Agriculture and just everybody in this this government.
• 1:08:52
  I've worked with governments before and it's amazing working
• 1:08:54
  with this one. Everybody's all about let's get
• 1:08:57
  things done, let's help the people.
• 1:08:59
  And it's it's, it's brought tears to my eyes and so amazing
• 1:09:02
  actually. So that's a phenomenal
• 1:09:05
  initiative that's going on right now.
• 1:09:07
  And I think that's just going to continue to grow.
• 1:09:09
  Yeah, that's a very, I, I think from most of our audiences in
• 1:09:15
  the US and that that seems like such a stark contrast from our
• 1:09:19
  government where it seems like we're constantly being poisoned.
• 1:09:22
  And to see, you know, just a flip side of the coin, where in
• 1:09:26
  the Bitcoin country, you know, they start with the hard money,
• 1:09:29
  then you go out to education and now they're, you know, building
• 1:09:32
  on the food. And it's like one of those, you
• 1:09:34
  know, the meme, it's like, I God, I see what you've done for
• 1:09:37
  other people. Can you do that for us here?
• 1:09:39
  Because it, it does seem very black pilled and doomerish at
• 1:09:44
  times. And I, I, you know, at the
• 1:09:46
  beginning of the show, I'm, I sometimes I get doomerish, but
• 1:09:49
  it's like, I just see good things happening and I, I want
• 1:09:51
  that to happen here. So on that note, Tom and Jim,
• 1:09:55
  you can pop in as well. I'm guessing that what you're
• 1:09:59
  doing currently in El Salvador is maybe a test bed for what you
• 1:10:04
  guys plan to do worldwide? Yes, it is absolutely.
• 1:10:08
  And we have many other countries contacting us about doing
• 1:10:11
  similar initiatives in their their countries, but El Salvador
• 1:10:14
  is our beach head for freedom, for sovereignty, for Bitcoin.
• 1:10:17
  President Mckelly's vision for this country is amazing and
• 1:10:21
  we're honored to be a part of that.
• 1:10:22
  This is the very best place in the world to start to do the the
• 1:10:26
  food security as a gold standard of agricultural excellence here
• 1:10:29
  in El Salvador to prove to the rest of the world how it can be
• 1:10:32
  done outside of the current very miss capital allocated Miss
• 1:10:36
  Keynesian way that is done everywhere else.
• 1:10:38
  We're using the best experts from Texas coming here to El
• 1:10:41
  Salvador to help train, educate the local population and how to
• 1:10:45
  do this the very best way, using the best inputs, using the best
• 1:10:50
  regenerative agriculture on the land.
• 1:10:51
  There's the ranchers we already met here.
• 1:10:53
  They're using really great agricultural practices.
• 1:10:56
  And we want to expand that out here, bringing those genetics.
• 1:10:59
  And then the, the, the big ticker is that we also have this
• 1:11:02
  digital property that the Texas Slim, the founder of of the Beef
• 1:11:06
  Initiative, just acquired called beef.com.
• 1:11:08
  And it is an asymmetric tool, just like Bitcoin's an
• 1:11:11
  asymmetric tool against tyranny. beef.com is defending the name
• 1:11:15
  of what real beef is and what that means in this world.
• 1:11:18
  And it's not cricket dust and it's not 3D.
• 1:11:22
  Yeah, yeah, we, we, well me personally and and I guess the
• 1:11:26
  simply Bitcoin crew, we are totally against eating Z bugs.
• 1:11:29
  So, you know, we are, we are big, we are big not eating the
• 1:11:33
  bugs advocate on the show. But you mentioned beef.com and
• 1:11:38
  I, I think this might be a good call of action towards the end
• 1:11:41
  of the show to wrap up is if people go to beef.com, what can
• 1:11:46
  they expect from beef.com? How can they get involved?
• 1:11:49
  Can they get in touch with their local ranchers through it?
• 1:11:52
  You know, explain all of this so that the audience knows, hey, if
• 1:11:55
  I need some good, so if I need a good rib eye, I know where to go
• 1:11:59
  and I know how to get it to my home.
• 1:12:01
  Absolutely. beef.com's a recent digital acquisition, so it's not
• 1:12:04
  fully flushed out yet. We have a huge technical team
• 1:12:07
  behind us that's actually doing that work right now.
• 1:12:10
  We do have some assets that people want to find the rancher.
• 1:12:12
  Beef maps dot dot com is one of our assets that you can actually
• 1:12:15
  find the local rancher already. If you go to beef.com, it's just
• 1:12:19
  a landing page to put your e-mail in to stay touch.
• 1:12:22
  We're going to have newsletters going out about what we're doing
• 1:12:25
  and and the upcoming things. But what it really is, is a
• 1:12:27
  defence of independent ranges around the world, a defence of
• 1:12:30
  consumers that they get what they they, they actually get
• 1:12:33
  what they think they're getting with your truthful packaging
• 1:12:36
  through an alternative feed beef system that we don't have to go
• 1:12:40
  to the major processing plant. We have alternative routes to
• 1:12:44
  get beef to you. So if there are shortages, we
• 1:12:47
  are forming that response and how to respond to that right now
• 1:12:50
  in the real time globally as well as well.
• 1:12:52
  So we're doing work in Texas, in El Salvador, and working around
• 1:12:55
  the world as well for that SUS Yeah.
• 1:12:57
  Come, come join us in that mission to basically fight
• 1:13:00
  tyranny through beef. Amazing.
• 1:13:03
  I mean, it's, I know, I know it was a little little, you know,
• 1:13:09
  black pilled, but. Sorry about that.
• 1:13:11
  No, no, no. I was going to say I know.
• 1:13:14
  Yeah, like I know the conversation is a little black
• 1:13:17
  pilled. Out Chief Texas Slim the other
• 1:13:19
  thing that he said to me he almost says it to me on a daily
• 1:13:22
  basis he says we're going to have fun while we do this right
• 1:13:25
  yeah is it going to be crazy is there going to be challenges of
• 1:13:29
  course there is but he's very very adamant he's like we're
• 1:13:31
  also going to have fun as we do this so he's he ain't black
• 1:13:35
  pilled and therefore I'm not black pilled we're.
• 1:13:37
  Not let's go. We have we have a solution.
• 1:13:39
  We can see the path forward. We all just need to work
• 1:13:41
  together and have each other's backs.
• 1:13:43
  And as Bitcoiners, we need to stand up for freedom everywhere
• 1:13:46
  around the world. Well, well, we'll go.
• 1:13:48
  We'll go one further. It's not only going to be fun.
• 1:13:52
  We're like, we're gonna make sure we have fun, but it's also
• 1:13:55
  gonna taste very, very good because you're gonna be eating
• 1:13:57
  some very, very good, you know, delicious steaks coming from the
• 1:14:01
  best cows, period. So man, thank you guys so much.
• 1:14:04
  And actually, just to relay, I don't know if you guys can see,
• 1:14:07
  but just to relay what the chat's saying, they're like, I,
• 1:14:10
  I support these guys. These dudes are the people we
• 1:14:13
  need to support. Someone said, like, where have
• 1:14:15
  all the Cowboys gone? Well, hey, they're coming back.
• 1:14:18
  The beef initiative is gonna make sure that we have really
• 1:14:22
  good steaks for the rest of our lives.
• 1:14:24
  Actually, actually sorry, one, one last question that I forgot
• 1:14:28
  connecting the ideas of of Bitcoin and ranchers.
• 1:14:33
  Obviously, if people are familiar with the show, we've
• 1:14:36
  we've talked with Texas Slim before, but I do want to end the
• 1:14:39
  show a little bit on the idea of how ranchers have maybe accepted
• 1:14:45
  the idea of Bitcoin. Is it easier for them?
• 1:14:47
  What have you guys, what have your guys experience been with
• 1:14:50
  trying to orange pill ranchers or are you starting with
• 1:14:53
  Bitcoiners and turning them into ranchers?
• 1:14:57
  I think it's both ways. OK.
• 1:14:59
  Currently, ranchers don't know Bitcoin very well as part of
• 1:15:02
  what we're doing here is that as we do these Bitcoin podcasts,
• 1:15:06
  actually put these in front of ranchers and then start doing
• 1:15:08
  branching pods. We've done some ranching
• 1:15:09
  podcasts as well to discuss Bitcoin there, but the thing
• 1:15:12
  that slays a lot of ranches is the financial side, and they
• 1:15:16
  don't understand necessarily all the things that are working
• 1:15:18
  against them. They.
• 1:15:19
  Don't they don't have that cushion?
• 1:15:21
  And and as and as Bitcoiners, we have a lot that we can do in
• 1:15:23
  education. Absolutely.
• 1:15:25
  And Bitcoin is an incredible cushion provided you're willing
• 1:15:28
  to zoom out a little bit. And to give you an example in in
• 1:15:33
  El Salvador as we built out the back better, all the initial
• 1:15:39
  deals that we did were in USD. Right now I got 15 guys and I
• 1:15:46
  pay them all in Bitcoin. Let's go years, right?
• 1:15:50
  It started with I'll pay you 10% in Bitcoin, the rest in USD.
• 1:15:54
  And then they gradually just started grokking it.
• 1:15:57
  Some of them are like hardcore bitcoiners now.
• 1:16:00
  Some of them are it's, it's kind of cool, but it's just, you
• 1:16:03
  know, step by step. And one other thing I, if I
• 1:16:07
  could just add quickly in terms of the fun thing that we were
• 1:16:10
  talking about before, I just want to tease this a little bit.
• 1:16:13
  It's not super official, but we're going to do a pretty crazy
• 1:16:16
  rodeo here as well in the future.
• 1:16:20
  I've called it the Renaissance Rodeo.
• 1:16:23
  We're gonna do some a pretty cool and the time Bitcoin Rodeo.
• 1:16:29
  The timing that's around Bitcoin Historica, so if your planet
• 1:16:31
  comes, it's around there. I think the time is a Bitcoiner.
• 1:16:37
  Sign up for that as well. And we're gonna have like, I'm
• 1:16:40
  talking like prizes in Bitcoin for bull riding competitions,
• 1:16:44
  that kind. Of So even if you're a Bitcoin,
• 1:16:46
  you don't feel like a cowboy, you can get your cowboy.
• 1:16:48
  Yeah, you can laugh for a day. We can.
• 1:16:49
  People learn. To pick something else.
• 1:16:52
  Yeah, yeah. And I'm still a lover anyway.
• 1:16:53
  No, I wish I was a real cowboy, but I'm not.
• 1:16:56
  I'm a I'm working on it. We're doing very good job.
• 1:16:59
  Let's go. All right, guys.
• 1:17:01
  Well, thank you so much for coming on.
• 1:17:03
  I, I really obviously give you guys all the praise for doing
• 1:17:08
  this. It's it obviously one of the
• 1:17:10
  most important things going on plus or besides just stacking
• 1:17:14
  Bitcoin. And I, and I really think the
• 1:17:16
  audience enjoyed this. I've heard, you know, I've, I've
• 1:17:20
  been hearing the Texas slim conversation, the beef
• 1:17:23
  initiative for a while, But sometimes you forget because you
• 1:17:26
  get so lost in your day-to-day grind of just how important it
• 1:17:29
  is to make sure you have a solid rib eye connect and, you know,
• 1:17:34
  helping people continue the art of making really, really good
• 1:17:40
  food. For us, it, it really is one of
• 1:17:42
  the unsung heroes of the modern world because we're just so used
• 1:17:46
  to going to the grocery store. You're so used to going to, you
• 1:17:49
  know, whatever your McDonald's or whatever and food's there.
• 1:17:52
  And the idea in the modern world of not being able to get food, I
• 1:17:56
  think we all take that for granted.
• 1:17:58
  So, you know, from, from the whole simply Bitcoin team and
• 1:18:02
  from everyone in the chat, man, we applaud what you guys are
• 1:18:04
  doing. Keep doing the good work.
• 1:18:06
  Really appreciate what you guys are doing for everyone else.
• 1:18:10
  Guys, go to beef.com, sign up, get in touch, go to what'd you
• 1:18:14
  say, Beef maps.com. Yes, all right, Beef maps.com.
• 1:18:19
  Get yourself some some good rib eyes locally.
• 1:18:22
  Yeah. And let's build the system.
• 1:18:25
  You should vote with your money. That's the purest form of
• 1:18:27
  voting, right? And so spend your money on good
• 1:18:31
  quality ranchers. Give them their money.
• 1:18:34
  Nick, give them your money. Love it.
• 1:18:36
  You want to keep your Bitcoin safe and cold storage.
• 1:18:39
  You want your beef safe and cold storage too.
• 1:18:41
  Get a freezer full of beef, 1/4 half or full cow.
• 1:18:45
  Let's go, let's go. I, I can confirm guys, you, you
• 1:18:49
  don't know how good it feels to have like I look, I don't have
• 1:18:51
  like a big freezer, but having a normal freezer just packed with
• 1:18:55
  really good steaks. It's, it's really, it does give
• 1:18:58
  you this sense of peace and obviously you're eating good and
• 1:19:01
  it's delicious and it's a good life.
• 1:19:04
  I'll tell you, it's a good life. OK.
• 1:19:06
  So anyways, guys, thank you so much for coming on today.
• 1:19:10
  I haven't talked to you in ages. Yeah, it's been a while, bro.
• 1:19:13
  It's been a while. All right, Well guys, I salute
• 1:19:16
  you to everyone in the chat. You already know the deal.
• 1:19:19
  Go to beef.com or Beef maps.com and we'll be back tomorrow for
• 1:19:23
  another show of simply Bitcoin Live.
• 1:19:26
  Peace out everyone. Today's episode was brought to
• 1:19:29
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:19:33
  mission to enable financial independence.