Latest / Simply Bitcoin / Michael Saylor & Jack Dorsey Just Destroyed Bitcoin Climate FUD | EP 479

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Michael Saylor & Jack Dorsey Just Destroyed Bitcoin Climate FUD | EP 479 · Simply Bitcoin

0:07
Welcome back everyone, we're simply Bitcoin.
0:09
We break down the news. The daily fail me review,
0:12
software releases Hardware releases and the pleb sites.
0:16
Joining us today fellow Bitcoin her fellow pleb and contributor
0:21
to bitcoin magazine. Sir Ulrich is joining us, what
0:26
is happening? Hey guys, thanks for having me.
0:30
And thank you very much for joining us.
0:31
All right, we're taking them down.
0:32
The rabbit hole. Let's go Niko.
0:34
Its number time, not at all. Brought to you by.
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Not all they make some of the best Bitcoin notes like the
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novel Dojo, the one I'm holding in my hand, it's in red.
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That means it's faster, run your own version of the pic of
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is a big No-No for See so run your own Bitcoin know today,
1:03
like the nozzle at the time of this recording.
1:05
The block height is 737,000. 627.
1:08
The Bitcoin price 38,000 645 chain rewrite days, 678 total
1:13
public lightning capacity, 3700 1.68.
1:18
Moscow, time 2588 blocks to The Happening 105,000 372 and the
1:25
samurai Whirlpool unspent capacity, Samurai whirlpool Is a
1:30
collaborative spend or coin joint.
1:32
It is not a mixing service and the unspent capacity in that
1:36
pool is 4550. 2.80, 7, Nico. But before we end the numbers,
1:44
no God, no. Yes, no Quest a pleb right?
1:48
A pleb wanted to know what a million SATs was in Kaka US
1:54
dollars. So what what is the number $386?
2:00
End. 47 cents. No one cares about sense since
2:06
Spencer Shay, don't get me wrong by the time they actually listen
2:09
to it. The price will change it anyways
2:10
but at the time of this recording, that's what you could
2:13
get the you know that's what a million SATs will cost.
2:15
You look less than 500 bucks you've got a million SATs.
2:18
Remember the days when you used to be able to get a million SATs
2:22
falling 50 bucks, it was wonderful.
2:27
And I remember thinking and just for the record, I remember
2:30
thinking I'm late Yep, I remember sitting there going,
2:33
man, the you know, 50 bucks 100 bucks.
2:35
I get a million SATs or wasn't that long ago?
2:37
I was like it wasn't that long ago, Dude.
2:39
So in I remember I was a thing. It was a small on Twitter
2:43
channel that posted it but dude, in 2017, the price of Bitcoin
2:47
was in the thousands. If that is, that is absolutely
2:52
insane. That is the power of houghtaling
2:54
that's why we stick to the signal signals Bitcoin.
2:57
But anyways, I have a really interesting stat.
3:00
I wanted to pass it on to you guys.
3:01
I think it's a great you know we could we could riff about this a
3:05
lot. This is Eric Weiss and he posted
3:07
a screenshot inflation is destroying the lives of billions
3:10
of people, we need to educate the world about Bitcoin and get
3:14
some SATs into the wallets of the people who need the most So
3:19
this is turkey turkey over sixty percent inflation.
3:23
Argentina over 50% Spain, almost a 10% Netherlands, almost a 10%
3:28
chili almost a 10% Russia. Is that a percent which is kind
3:32
of funny because they did the whole sanctions so that it'll
3:34
literally declared economic war on Russia.
3:38
And they did fuck up the currency for a little bit.
3:41
But because and again, we're not taking any sides politically.
3:45
I'm just observing but because Putin backed partially back, the
3:51
Russian rule by gold. It be actually became very
3:54
difficult for the u.s. to you know to to destroy the Russian
3:58
Central Bank. Like they had planned with the
4:00
sanctions. So the question is right, if the
4:03
sanctions didn't do anything and Germany is still buying that
4:08
natural gas from Russia, Who are the sanctions really hurting?
4:12
I would say the Russian people more so than the Russian
4:16
government. So it's like, this is crazy and
4:19
to steal one of old, I mean, it's not really his line, but I
4:23
saw it on his bracelet to seal, to steal, sir, ulrich's line,
4:29
right? This is why separation of money
4:31
and state must be essential. No politician, our group of
4:34
elite people should have the power to just take millions of
4:39
people out of Financial system that is Bonkers to me.
4:42
It's absolutely crazy. Anyways, Columbia right.
4:46
I think really trying to Japan and China, its Switzerland,
4:50
really. South Korea are really the
4:52
country but even then it's like in the money is still stealing
4:56
from you, dude. Like it might be stealing from
4:58
you ever so slightly so that you don't notice but it's still
5:01
stealing from you. And then the reason I want to
5:03
pull this up is because I want to talk about the IMF, right,
5:08
the IMF, right. It's like you know, Crypto could
5:11
not can't hedge your Investments, it's dangerous to
5:14
the financial system who are that and to use gladstein Zone,
5:18
world own words right there talking from a place of
5:20
financial privilege because if you live in Argentina or or, or
5:26
turkey, or one of those countries, like most, like I
5:29
would say, most of the world's population more than half the
5:32
world's population lives in a country that does not have a
5:35
stable fiat currency. Bitcoin is perfect for you.
5:39
Who the fuck is the IMF? Think, like, what is they
5:41
thinking? Because they're not really
5:43
thinking from a place of. Oh, we're really concerned about
5:46
the social welfare, welfare of all these people.
5:49
They're really coming from a place of Bitcoin is a threat to
5:53
our power and control and therefore, we must say anything
5:57
and everything to an in order to to stop that, right?
6:00
To nip it in the butt. I don't think they're
6:02
successful. I don't think they'll be
6:04
successful. It doesn't mean that these
6:05
people can try right. These She'll Panthers have been
6:08
used to getting their way for decades and decades.
6:11
What makes you think they're going to stop now, right?
6:14
That they're absolute Psychopaths.
6:15
These people don't care about Humanity, they care about their
6:18
own power and control, even if it means hurting billions of
6:23
people, which is absolutely ludicrous eat.
6:26
I mean ludicrous to me or whatever.
6:27
I don't know how to, I don't know the correct light grammar
6:30
in there, but you guys get what I'm saying?
6:32
Anyways, Ulfric, what are your thoughts on this?
6:37
Older it. Come on now, I'm all working.
6:39
I know it's a foreign name. You know you know what, you know
6:42
what dude is? Because I've been watching that
6:44
fucking Viking show and they're like oh frick.
6:47
Oh Frank and I'm like, oh my God, damn, he's all for it.
6:50
That's why Olmec now I know, all right now, I know Knight's Tale
6:54
Heath Ledger in Knight's, Tale, go check that out.
6:56
He's My Doppelganger. But no, I know I tricked.
7:02
You guys know. Um, in terms of that news, I
7:07
When you, when you think about Argentina, when you think about
7:10
turkey, you guys think about those entities and maybe people
7:15
in the financial realm, think about them.
7:17
But I think us As Americans us, people who live in the Eurozone,
7:23
we are, we're living in that in that first world, where we are
7:28
protected by a relatively stable currency.
7:32
I mean all Fiat currencies based on this.
7:35
What the dollar is, that's why, that's why People's don't think
7:38
that they're losing its value because right now we live in a
7:41
world unit of account. One dollar equals one dollar,
7:45
then enters Bitcoin. And so you have this hard money,
7:48
you have this, none of this money that cannot be easily,
7:51
co-opted cannot be easily stolen.
7:53
And so it creates a difference where you're not able to where
8:00
you're able to, it it shines a light on the, on the negative
8:06
aspects. Of these Fiat currencies and
8:09
while and it's so funny because like, like Gladstone's articles,
8:12
he shows so many different use cases, where third worlds are
8:16
adopting it and they are being protected by the by that by
8:20
those inflationary forces. And but meanwhile in the United
8:26
States we're kind of like, you know, life is good.
8:29
You know, to quote future and it's like they don't they don't
8:32
feel. They don't feel as we're just
8:35
now covid. Auntie.
8:37
And, and to now, we're now just feeling those, those forces
8:41
because they were. So they were so striking and so
8:43
forceful, you know, the, with the money Printing and, and, and
8:47
the resulting inflation, what's going end up happening, is we're
8:50
going to be a United States will be in that in that extreme
8:55
value. In that extreme inflation year
8:57
over year sometime in the future.
8:59
It may not be next year. It may not be the following year
9:02
but it's already a record highs and people think they can still
9:06
waiver that storm. It's If what you see in
9:08
Argentina, what you see in Turkey, it's coming for all of
9:11
us because we all use that type of currency.
9:13
It's really sad. You sound like a row.
9:17
All right, extremist my friend. Okay, that is some serious
9:21
misinformation. We have to hit up the ministry
9:24
of Truth. Oh no.
9:25
But I'm totally, I'm totally gaslighting you but you're
9:28
absolutely right. I think it's absolutely coming
9:30
here and I think the signal really is the fact that when
9:34
they try to explain this inflation in the United.
9:37
It's they blame everything and anything but the money Printing.
9:42
And on top of that when Jack Dorsey and he has a lot of
9:45
followers on Twitter said hyperinflation, it's coming
9:47
specially the US, the Legacy Media are we called the show the
9:51
propaganda arm, right? Dave went absolutely insane,
9:56
right? So I think you're I think you're
9:58
right, man. And I think that if you don't
10:00
buy yourself some insurance and the best insurance in the world
10:03
is Bitcoin, I think that. And unfortunately because you
10:06
know a lot of Like look, just because bitcoiners are saying
10:10
that inflation and possible hyper inflation is coming to the
10:14
US doesn't mean we want it. It just means that we don't see
10:19
any other ending to this Fiat experiment.
10:22
Right? We just don't see any other
10:23
salute, like resolution to it. But again, hyperinflation is
10:28
absolutely horrific on a country.
10:30
It's terrible, right? People, they lose their houses,
10:34
they lose their jobs, the economy grinds to a halt.
10:36
There's no way to I pay people because think about it, it's
10:39
like okay, well pay you, you know, $250 for that shipment but
10:42
in a week the prices are totally different, right?
10:45
So you can't run an economy on that, it'd be catastrophic, you
10:48
know? But anyways, Phil what are your
10:50
thoughts on, man? The fucking Central planners,
10:54
bro. Well, it really what I wanted to
10:57
talk about was the, the sanctions, right?
10:59
Because that's kind of the scary thing.
11:02
We always seem to think that or I should say, we're made to
11:07
think That sanctions are there to help the, you know, the
11:11
country that is imposing them, right?
11:12
Like this is they're doing this for your security, you know, the
11:15
government is protecting your interest, their interests, but
11:19
at the end of the day, it's like you said, all it does is hurt
11:22
the people. So I just think like I just find
11:26
that this this whole business of doing this.
11:29
Like, clearly it doesn't work because it penalizes, a whole
11:32
bunch of people that don't deserve to be penalized and the
11:35
people that it aims to penalize. Don't actually get penalized.
11:39
So why is anyone participating in this?
11:43
Like, it seems the only people that want to participate in this
11:45
are the government's that are actually doing the sanctioning,
11:48
like, you know what I mean? Like, they're the ones that are
11:50
completely completely unaffected and I just, I find this very
11:54
strange. Anyways, absolutely brother
11:57
fucking playing God while there's actual real-life
11:59
consequences to their whole political Shenanigans.
12:03
It's like like, like are you trying to hurt the people over
12:06
and, and Honestly, I know what they're trying to do, what
12:09
they're trying to do. They want regime change, right?
12:11
They want the people of Russia to rise up against Putin because
12:15
of the rise in prices, but that's not working.
12:18
So it's like what are you doing that, right?
12:20
And they don't answer that. It's like you you're a poodle
12:23
lover at all. That, all the gaslights, right?
12:25
It's just, dude, it's absolutely crazy.
12:28
This is why we must separate money from State.
12:31
This is why Bitcoin has to win, only a political money is the
12:36
future. And if you Don't see that.
12:38
You're you just benefit from the financial system to be honest.
12:41
But anyways Phil it's time for the daily fail brought to you by
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Anyways, the link is down below. That's right.
13:06
I was just saying, this is a Huge mess.
13:08
We're going to, you know, Nico said I would cover it today and
13:11
indeed he was correct. I am covering it today.
13:14
What am I talking about? I'm talking about the fact that
13:17
both Solana and the theory. Mm had some trouble this this
13:22
past weekend, but but to preface that story to preface that
13:27
story. We're going to start with this
13:28
tweets that I meant to actually show everybody on April 28
13:33
little did we know that? You know the whole you know,
13:35
both of those networks would go? Down over the over the weekend
13:38
or not necessarily go down entirely, but make fees.
13:41
So incredibly high, that people can't afford to use those
13:43
networks or one particular Network, while the other network
13:46
goes down. Anyways, let's dive into it,
13:48
just in Solana. Co-founder Anatoly.
13:52
Yak Evancho says that, eventually, if Bitcoin doesn't
13:56
move to proof of stake, nobody will use it.
13:59
I bet he didn't know what was coming.
14:01
Just a little bit later, but, but we're gonna back up a little
14:03
bit. We're gonna, we're gonna back up
14:04
in time just just a bit. We're gonna go.
14:07
Back to January. 26, 26 2022. Let's think about the salon and
14:12
network. He's telling you you need to do
14:13
something else and and he's the head of this network in 2021
14:18
Salon. The network face down time for
14:20
more than 15 hours. And the whole game was based on
14:23
the spamming bought transactions, which introduced a
14:26
high traffic load on the network, January 2020, to the
14:31
Salina Network faced a network outage for the second time
14:35
within one month. This latest outage.
14:37
Age was very bad because on one side, the shit coin Market was
14:41
facing a crash. And on the other side, the
14:42
network was fully down the official noticeable issue in the
14:46
network speed took place on January 21st, 2022.
14:50
And he's telling you, that you should be listening to him and
14:53
Bitcoin is going to die, and no one's going to use it.
14:55
If you don't move to what he thinks makes sense, which what
14:58
he thinks makes sense went down twice in a month.
15:01
So imagine your your value, your family's value, your future,
15:04
just ya think of that and it goes down just like that.
15:07
All right, January 23rd, the team successfully fix the issue
15:10
by releasing the updates to eliminate the issue.
15:12
Great, two days later. You got access to your coin
15:14
again. Fantastic, another day.
15:16
Another 48. Our Salon outage.
15:19
That's right. So they had that outage.
15:20
Now, let's move. Let's move over to May 2nd four
15:26
days after Anatoly posted that the Solana proof of stake
15:30
blockchain Network suffered. Another outage after significant
15:33
amount of transactions, flooded the network Salon has proof of
15:36
stake network has had Faculties in the past is blocked
15:38
production stalled for hours, in mid-september, but it also
15:43
happened in January. So now we're talking about three
15:47
times. All right, block production on
15:49
the solanum, a net beta has halted, validator operators,
15:53
should prepare for a restart? That's fun, right?
15:56
Prepare for a restart. Okay.
15:58
So this got published very recently.
16:01
What was it here? April 30th and this is actually
16:04
a neath. The, this is a well I don't know
16:06
if he's a neith developer but Scotty foundation in his, you
16:10
know, in his profile. Anyways, here we go.
16:12
So, on a foundation published beta cluster restart
16:14
instructions that include instructions to block, nft
16:17
minting Bots manually at the lay at the L1 layer.
16:20
Why does this matter? Don't forget only sensor the
16:23
network until it looks steady again.
16:26
So we can start saving face with an online Network.
16:29
Okay? So yes, essentially, they were
16:32
asking to censor transactions, so the network won't go.
16:37
Go down the best part, bro. Is if I can, if I may interject
16:43
here for yes, yes. The best part is the fact that
16:47
they called it a beta. After the fact, it was in a bit
16:51
of a for became of being after it broke.
16:54
I was wondering, I was like, hey, wait a second.
16:56
When did they when was this thing becoming a beta?
16:58
I thought I'm like I thought it already was a beta and a launch.
17:01
It's all marketing. It's like oh fuck it broke.
17:03
Oh it was a beta0 the whole time guys.
17:05
It was a pain of the entire time.
17:07
Dude, it's a fucking joke. This is why very, very powerful
17:13
people, right? Politicians the the weft, the
17:16
world economic Forum, they're all proof, pushing for proof of
17:20
steak over proof of work. Even though proof of stake has
17:24
not been proven, right? To still have the same qualities
17:27
of proof-of-work, vain. They don't they're not concerned
17:30
about that. What they can they're concerned
17:32
about is, can we manipulate this?
17:34
Can we control this right? Proof of work.
17:36
They cannot Not proof of stake, they obviously can look if you
17:41
could shut down a network just like that, right?
17:44
What makes you think a government or a very powerful
17:47
institution can influence a government to possibly stopping
17:52
stopping it? It's obviously centralized.
17:55
They can only do all those moves.
17:57
If it was a centralized Network, its absolute garbage.
18:00
But I'm concerned because and I can a geek I'm going to keep
18:04
saying it. This is this is 1.
18:06
This is The most powerful social attack that I've seen on bitcoin
18:10
ever, write up is this push for proof of stake?
18:14
And unfortunately, there's a, there's a lot of people that
18:17
care about the climate. And I'm not saying that's not a
18:19
noble, cause I think it's a noble, cause I just think the
18:22
methods in which they're using right.
18:25
Using big government, using coercion are not going to get
18:29
them where they think it's going to get them, right?
18:31
So that's all I have to say about that.
18:33
But anyways, all Rick I said it right this time.
18:36
What are your Thoughts on this buddy, you know, I was thinking
18:40
about how they shut down the salon and network for a few, for
18:43
a few hours, since there until the until the blocks start until
18:47
they in, they start validating the blocks again, it's very
18:50
similar to. I want to say they shut down
18:54
commodity trading this week, for whatever reason, probably
18:58
because hard assets are blowing the heck out of fiat currency
19:03
right now and they don't want regular people to gain any sort
19:06
of. Holder advantage on a good
19:09
trade. So they so they just helped the
19:11
market out of nowhere. And these are the kind of
19:13
controls that the Legacy system is used to right now where it's
19:19
like, hey, if we if the market is going haywire, then let's
19:23
stop it, reset it. So that the right people can get
19:26
the right incentives, can get the right gains, that's proof of
19:30
stake, that's control, that's controlling the system.
19:34
That's not free market economics and that's something.
19:37
Free market economics is something we never really had
19:42
have experience in our history because there's always been some
19:45
sort of centralized institution, that's pulling the levers
19:49
playing hit that has admin rights and that's why I hear
19:52
that all the time. You have you have people
19:54
complaining about the overarching, crypto currency
19:56
Market. It goes 24/7 and it's never
19:59
resting. I see I see Traders saying oh
20:02
you know things need to shut down that you know, that needs
20:05
to only go eight hours it. Why?
20:06
That's why. Freak, that's more freedom than
20:09
ever because it's more price. Discovery is more accurate price
20:13
signals than anything on NASDAQ or the New York Stock Exchange.
20:18
So, when it comes down to proof of stake versus proof of work,
20:22
as we all that, you guys have said, it plenty of times.
20:24
Before the Legacy system is proof of stake.
20:26
Proof of work is literally is literally literally the
20:29
monetization of energy. When we, when we pursue energy
20:32
when we must when we when we incent spies the discovery of
20:35
energy Aditi progresses, we have grass.
20:39
We have we have metrics to prove this.
20:41
The highest you the most the the in the countries with the
20:46
highest energy usage, have the best per capita and got them
20:50
yellow ones. The ones at the lowest end
20:52
they're struggling and they want all those low-end countries they
20:57
meaning wef centralized authorities green party.
21:01
They all want them to say oh no you guys don't need you know you
21:05
guys don't need to go find more. You guys need to, you guys need
21:09
to stay, right there or go. Go just make your whole
21:13
infrastructure based on solar or even better when you know,
21:16
that's really good for you. Meanwhile, they'll stay in their
21:19
current, in their current state subservient.
21:22
And as indentured servant to to the Europe and North America,
21:27
it's sick 100% dude. And you know, they even Market
21:30
it bro, you owe nothing be happy.
21:32
Like these people are absolute Psychopaths and, you know, to
21:36
add As much as they would like us to believe that where the
21:39
Psychopaths that is pure projection.
21:41
But dude like at the end of the day I think you hit the nail on
21:46
the head over it and that is look it is directly correlated
21:50
the amount of energy that humans are able to harness and the
21:54
prosperity of humanity. Right?
21:56
So less energy that we use as a species, the poorer we become
22:01
right? You control energy, you control
22:04
people's the same with food, you control people, you can control
22:06
food. You People, right?
22:08
And these people running these crazy crazy people, right?
22:13
Yeah, man. They, they really think that
22:14
they know what's best for the world's, right?
22:17
And that's the exact opposite of person that you want to have
22:21
power. Anyways, Phil, I think Bitcoin
22:24
does fix this, though. It's, you know, so to add some
22:26
good news in there. Anyways, but what is, what is
22:28
the next fill my friend? Well, yeah, it was kind of like
22:31
on the heels of that one, right? It was kind of a two-part or so
22:35
while Solana was shitting the bed, We also had a theory mm
22:39
that that was also taking a dump but it was a, you know, for some
22:42
people in the in the shit coin realm, it was a happy time,
22:46
right? So let's let's dive into this.
22:47
Here you go, AB c--'s, 561, million in Other Side aetherium,
22:52
nft Sales within 24 hours, you collabs, the startup behind the
22:57
board, a pure a club or base. See, that's valued at four
23:01
billion dollars, had its highly anticipated other side,
23:04
metaverse mint on Saturday night.
23:07
King, the theory of maenette and sending gas prices to shocking
23:10
Heights in less than 24 hours. You go Labs had generated more
23:14
than 560 1 million from just the other side's other deed nft
23:21
sales. So if I understood this
23:23
correctly they were essentially buying they were essentially
23:27
getting virtual Deeds. This is what I understood as
23:32
best I could. Anyways, some 55,000 and ft's
23:35
were minted at Five a peach which means each other deed cost
23:40
about fifty eight hundred dollars, given eight coins,
23:43
price that was $19 at the time of the mint.
23:47
So due to the high number of ftes and the higher demand, the
23:49
others deed mint, which began at 9 p.m. immediately caused an
23:53
aetherium. Gas War traffic on block.
23:56
Explore either scan. Also led to reports that the
23:58
site wasn't working for many users while some were able to
24:03
get their transactions processed within a few hours for a couple
24:05
of hundred dollars a couple. Hundred dollars in Gatsby's
24:10
others reported paying upwards of 4,000 dollars for single
24:13
transaction. Now, keep in mind, right?
24:15
If you're just trying to use this, as your as your base layer
24:18
of value retention, as your base layer of medium of exchange, all
24:22
of a sudden doing a simple money, monetary transaction,
24:25
just became almost impossible to you, okay?
24:28
Just because a bunch of people decided to have fake, Deeds is
24:33
the future of money, bro. You know, it is the future of
24:36
money. I mean, Get me wrong.
24:38
The Splurge. I guess that was part of it,
24:40
right? This was this was the part that
24:41
we were talking about Nikko. This was the Splurge part.
24:43
Where you Splurge? All right, so so here we go.
24:47
Following the chaotic mint. Lynndie CEO of nft Platform, One
24:51
of had some Stern words, for Yuga labs and garga himself.
24:55
Okay? So so hold on a second.
24:57
This is this is where it gets before we go to that.
24:59
Let's just go take a look. We got tagged by icoc.
25:02
Not in this one. Take a look.
25:04
Somebody had to pay so keep in mind, right?
25:07
Look at this somebody for to eith, they have to spend three
25:12
thousand seven hundred and three dollars to send it.
25:15
That makes sense. That totally makes sense.
25:19
And you know what's funny? If you take a look at what
25:20
they're doing here, they're exchanging their eith for
25:23
wrapped BTC. Why don't you just buy Bitcoin?
25:26
Why are you buying another shit coin pretending to be Bitcoin?
25:29
This is anyways, so yeah, 3,000 bucks.
25:32
Okay, so almost 4,000 bucks, there you go.
25:34
Okay, so hold on a second, let's go to this tweet.
25:36
Okay. Let's go to this tweet by by
25:40
lynndie. Okay, who go take a look over
25:42
here? Blockchain technologists.
25:44
The CEO of one of.com. Okay, so here we go.
25:49
Decentralization should never be used as an excuse for decisions
25:52
of centralized venture-backed companies.
25:55
We'd like to encourage the Dow to start thinking as if your
26:00
dowel board is not made up of your VCS time to take
26:03
responsibility. Be accountable to the community.
26:08
Now, what is he talking about? This was you collabs put
26:11
together, this really long pathetic thread.
26:14
Essentially blaming aetherium on the fact that these guys didn't
26:18
put any optimizations into their code.
26:20
And, you know, like there was just there was a whole bunch of
26:22
screw-ups, right? And these people are just
26:25
blaming everyone, but essentially, this is what you go
26:27
lab said, okay? They said we're sorry for
26:28
turning off the lights on a theorem for a while.
26:30
It seems abundantly clear that ape coin will need to migrate to
26:34
its own chain in order to properly.
26:37
We scale we'd like to encourage the Dow to start thinking in
26:42
this direction. Okay?
26:44
So in this case, the the day owes, these are all made up of
26:48
their VCS as one of their fellow shit coiners pointed out.
26:52
So again what you're seeing is people that are not taking,
26:56
okay? And this is to me the main
26:58
takeaway they are not taking the the value that people are
27:01
putting into this seriously. This is why they should coin to
27:04
begin with otherwise they'd be building on bitcoin because the
27:07
Reality is is that if you're building on bitcoin, you are
27:10
most likely going to deal with very little funding.
27:14
Maybe even no funding for a long time until people actually see
27:17
value in what you're building. And then once that happens,
27:21
people decide that hey you know what?
27:23
Maybe maybe we can maybe we should fund these people for
27:26
what they're doing. And the truth is is that these
27:28
people, okay? These groups don't want, they
27:32
don't have the patience to wait to build something serious.
27:35
So they're just going to build some crap and Is how you end up
27:38
with a situation like this? I mean are you kidding me?
27:40
Imagine this was the medium of exchange.
27:42
Imagine that everybody sat there and was dumb enough to listen
27:45
right there's the world economic Forum on its put it on
27:47
aetherium. All of a sudden it's going to
27:49
cost fifteen thousand dollars to buy a six Dollar milk.
27:52
You know we're a five dollar milk.
27:54
Like you kidding me just like just imagine that stupidity.
27:57
And this is what these people think, and they're going around
27:59
there. Making websites ultrasound
28:00
morning, Booth proof of stake is but mazing and proof of work is
28:04
bad like that. There these are Clowns they're
28:08
clowns and they don't get it. Anyway, sorry, you're all
28:12
fucking beautiful addict, beautifully, beautifully.
28:15
Put I think this weekend's, you know, the universe has a, has a
28:20
funny way that whoever's writing the script is having a great
28:23
time, right? I'll just say that.
28:26
So yeah, look on the same weekend, right?
28:29
Aetherium clogs up. Five thousand dollars to send a
28:33
simple transaction and Salata proving that it's, this is it.
28:37
By the way, this isn't the first time this has happened to Lana.
28:40
Happen, multiple times or like we got to restart it again.
28:43
Like if someone could restart it, that means that governments
28:47
could capture it, which is why I always tell you guys, if we want
28:49
to separate money from State, cryptocurrency needs to have
28:53
sufficient amount of centralization and the only one
28:56
that has it right now and I suspect it's going to stay this
28:58
way is Bitcoin, right? So yeah man, look should coins
29:03
doing shit coin things. There's a reason they're called
29:05
shit coins and Phil just gave two great examples of them.
29:08
Anyways, Ulrich What are your thoughts on this?
29:11
My friend? I mean, you know these are you
29:15
guys always say that, you know, that that shit coiners have the
29:20
have the best names. But these you go labs, this is
29:23
an ugly name to me, I don't know.
29:25
I just don't like that one. So we're gonna hopefully next
29:27
week. We have some better names or
29:29
next time you have a show. So but the thing is the people
29:34
who fund these these Venture Capital, these Venture Capital
29:39
endeavors, You mentioned it. One of you guys I forgot because
29:43
this is such a blur so much information but the hide the
29:47
high time preference of, they want, they want their returns
29:50
now, they want their returns. Now whether it's a, whether it's
29:53
a good functional product or not, they want, they want to
29:57
see, they want to see their money work for them.
29:59
Now before the product that they're building is working for
30:03
whomever their audiences and and that's just backwards.
30:08
You know, that's just backwards. I think.
30:10
Brings us back to the roots of what almost like a crew.
30:15
So, Ian economic kind of, kind of a structure where it's like,
30:18
you know, you provide value. You provide that you can create
30:23
value through assets that you actually have.
30:26
You can create value through savings.
30:28
I think, guys Swan had a had, a had a podcast about that.
30:32
I've actually referenced that in one of my articles, a few months
30:36
ago, but it's like, venture capital is not is not Not built
30:40
that way. It's built where we want to.
30:42
We want to get our gains early before the product is out and
30:47
maybe even rug pull get out before the product.
30:50
Even even hits the hits, you know, full functioning full,
30:55
fledge version 1.0, and then there, and then, but they've
31:00
already made their money. They're off to rug pull the next
31:03
victim. I would say that that again, and
31:06
I'll stop here altcoins ethereum, you know, when it
31:09
comes down to that. Staking mechanism where it comes
31:12
down. People people find Value in
31:14
that. They people find incentive for
31:17
that. But what is that?
31:18
That's essentially for the people who are staking,
31:21
essentially value creating value for no or getting better,
31:25
returning value for no work done, for no labor done.
31:30
And the only people who can bet the more money you have proof of
31:33
stake, the more money. The more you can benefit from
31:37
that feature, whereas the lowest people Remember if it's an
31:41
ethereal economy, you got everyone from the from the
31:44
lowest of lows to the highest of highs participating, but it
31:47
seems like only the highest of the highs, only the Elite Class
31:51
will really benefit from etherium monetary system.
31:55
So, in my opinion, I think Bitcoin is a system that we're
31:58
all parties where it's a class of society.
32:01
You know, if you if you produce the work, if you produce a, if
32:04
you produce labor, if you produce Goods, you will reap the
32:07
benefits of your labor and if you And in aetherium world, if
32:12
you have a lot of money you can hold on to it.
32:15
And that's what we already have. Why change its, if you there's
32:19
no reason to go to Theory and we already have the US dollar.
32:21
I'll stop there. Yeah, no, you just described
32:24
proof of steak perfectly. Right at the end, you know, it
32:27
was under different they were using a different name but
32:29
that's what it was. It was proof of stake, right?
32:31
And then kind of Bitcoin figured out a way to essentially
32:35
insulate the productive people from the parasites, really?
32:39
That's that's what Bitcoin. Has figured out how to do and
32:41
only Bitcoin because it's officially decentralized and all
32:45
these other composers write that rely on marketing to grow right
32:50
there. That's what they are.
32:51
They're lying right there, they're trying to make you
32:55
believe that they're equal to bitcoin or even worse that
32:58
they're better than Bitcoin but once you really look under the
33:01
rug, it's all dog shit. But again these people are very
33:05
well capitalized or we're very well funded, right?
33:08
So I don't think they're going to go.
33:10
Anytime soon, which is great because we have a whole segment
33:13
dedicated to the the fails. Anyways.
33:16
But anyways, Phil it's time for the daily meme review brought to
33:20
you by Citadel 21, they make the best Bitcoin cultural zeenat
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stories articles Comics by actual bitcoiners is the artwork
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All right everybody, Welcome to the meme review where we review
33:50
Bitcoin memes. Bitcoin memes are very important
33:52
part. A Bitcoin culture and they play
33:54
a key role in this narrative trench warfare.
33:58
So review them because they're Bitcoin memes.
34:00
Anyways, first one is buy Bitcoin, meme library, and
34:05
that's weird. I don't know why he would be
34:07
snorting, something very strange.
34:10
He is snorting, giant green candles, I like that.
34:14
Anyways, moving on to the next one.
34:18
It's buy Bitcoin. And bald Solana investors
34:20
rationalizing. Holding their shit coin.
34:24
Oh man, that seems hard look at her legs are just holy crap.
34:28
But yeah, very good meme. All right, moving on to the next
34:31
one, you can't bullshit math. Shout-out fart fart face to fart
34:36
face to K. This guy's the man, you have to
34:38
give him a follow. Global balance sheet, Bitcoin,
34:42
absolutely true. Moving on to the next one.
34:46
It's by, shout out toxic at you fucking killing it, brother.
34:49
I'm very happy to have you on bitcoin Twitter, so Bitcoin
34:54
Improvement protocol 119 debate. By the way, we're finally going
34:57
to do that episode. I know it's been requested a
34:59
lot, we have Ron, we've been waiting on leaving only runs
35:02
been traveling. He leave.
35:03
Iran is the simply Bitcoin technical correspondent, he's a
35:06
software Dev. He handles all the technical
35:09
stuff. Like we're going to have them
35:11
tomorrow. Episode drops on Wednesday, and
35:14
we're going to go, we're going to explain in and all that good
35:16
stuff, but everything is basketball talks.
35:20
This is so this is right, this is a very in Niche, kind of meme
35:24
for Bitcoin Twitter, so I get the shout out to Big Sean
35:28
Harris. Shout out to Big Sean, if, you
35:30
know, you know, but look for real, who the fuck has this type
35:34
of table and what the fuck are they talking about?
35:37
Like, it's something it's smaller.
35:40
Enough where it's not that weird, but it's too big where it
35:44
like you like, what are you gonna do scream across the
35:47
table. Like, just one person talk at a
35:49
time. Like, it's very straight.
35:51
Like have you ever been on to a zoom chat with too many people?
35:55
Yeah, this is the real life version of that.
35:57
Anyways, that is moving on like fucking weird.
36:01
Like this is fucking weird and like look like if you're sitting
36:04
here, is someone sitting here at like do you do usually just like
36:07
to just reach across? It's very strange.
36:11
We have those microphones, right?
36:12
I don't know. It's very strange.
36:13
Okay, anyways, it's good being Fiat.
36:16
Poor is a badge of honor, your bank account at the beginning of
36:20
the month, your bank account, at the end of the month.
36:22
It's true. If you don't have if you don't
36:26
have a couple overdraft fees you're not at your Bitcoin or if
36:29
you know you know all right next one.
36:31
Buy Bitcoin Liotta we need to accept that.
36:33
Not everyone will understand. Bitcoin is a great by the way.
36:38
Great. 15 Pack 3 more cans than 12 times.
36:45
This is option. Do not insert in mouth or the
36:49
thing, right? Ah, Jesus wash Inside Out,
36:53
remove child before. Wash are these real open?
36:59
Open box before? Eating pizza?
37:00
Like, are these a I like, I don't know if these are real and
37:03
hold on a second. Hold on.
37:05
That being, you know what? Never forget this people that
37:08
there were kids that were eating Tide Pods.
37:10
It's okay. Oh yeah.
37:12
Thank just saying they re pretty fools.
37:16
Yeah. I totally believe that they're
37:17
real buy Bitcoin. Don't eat Thai pods.
37:20
Tripods are must. They're expensive to I think.
37:22
I don't know. Anyways, so we tax.
37:24
So we tax alcohol cigarettes and gasoline to discourage bad
37:28
behavior. Tell me again.
37:30
Why we tax income? Oh man, that is a deep Rabbit
37:34
Hole. I'm not going to get into that
37:35
right now. That's a very deep rabbit hole.
37:37
Look, you know what? I'll give you guys a little bit
37:39
of signal All the Federal Reserve and the federal tax
37:43
income were created and were released on the same year, 1913,
37:49
there's your head. There's your hint Americans.
37:53
Why were they released on the same year?
37:56
That's a deep Rabbit Hole my friend.
37:58
Why does life keep getting more expensive?
38:00
And it's the I love this template right?
38:04
Moving on to the next one. Inflation is higher than we were
38:06
being told. Bitcoin is our life raft.
38:09
It's a good. All the Fiat, you know, very
38:12
good. I like them.
38:13
Good, solid memes, good, solid memes.
38:15
And for that, I'm going to give it feels going to be very, very
38:18
jealous of this. Because I know him.
38:20
He likes collecting things and you like, keeping them in mint.
38:24
So, I have to make this non mint.
38:26
So Phil, Phil say something. Well, line on meant this.
38:30
I can't believe he's gonna do this.
38:32
He will actually ruin stuff. He will ruin perfectly, good
38:35
items. Just just to make me cringe.
38:38
This is thick, not weird. This is how weird it's gotten.
38:41
He got he got like a box of a whole bunch of really cool stuff
38:43
from Lucho Poletti and he's been like using this against me for
38:46
the last week. So with so Phil and I have
38:49
different, we have different theories and life, right?
38:52
I come from the theory of you have one life, so you have to
38:55
use things, right? And Phil comes from The Theory
38:57
of Everything was life. You need to keep things in men.
39:00
Everything must admit. So, here is the Lucho Poletti
39:04
sticker right? Look at that.
39:07
Bitcoin. No lives and all the schools
39:09
have different Things. And You doing, we're going to
39:16
ruin it these ruins but the pens out of ink.
39:20
But I that's you know what? If it that's ruined.
39:27
Why would you do that? Why would you even do that?
39:29
Because this is a sticker. I'm gonna stick it on the wall,
39:32
bro. Are you?
39:34
That's the problem. See, that's the difference.
39:36
I know I'm not going to stick it on the wall so I wouldn't do
39:38
that. That's my boy.
39:41
Anyways. Phil, what would you give those
39:43
memes? Well, you made my mean you made
39:47
my score uneventful. Here we go.
39:49
I'm giving it a carrot. That's right.
39:53
Getting a carrot Bitcoin, carrot sticker, right?
39:55
They let you earn SATs, bend it a little bit, bend it a little
39:58
bit, bend it a little bit but it's okay, it's okay, there's
40:03
nothing written on the back. It's nice and clean, don't
40:05
worry, it's still mint. Anyways, all right, what would
40:09
you give those memes? So I have a tube scores, the
40:13
first three or four. For I would say, are more Savage
40:17
means so in light of its savagery, I decided to give them
40:24
a portrait of one of my favorite fictional characters who happens
40:28
to hang over my mantle of the bounty of the famous bounty,
40:32
hunter, Boba Fett since you that picture.
40:35
So you guys will pop that up the last couple.
40:38
I thought they were very sound. Money, principal focused.
40:45
For that reason. I'm going to give it this little
40:49
wristband that me, Mark and Mike hobart's.
40:52
If you haven't interviewed, Mike Hobart, definitely bring him on
40:55
the show, he's great, but it's a wristband.
40:58
This is separate money from State and hashtag do me.
41:04
Where's the do me party? Stag, do me.
41:06
And that's that's based on our website, which is the
41:10
Declaration of monetary Independence dot-org.
41:13
I suggest you guys check it out. Out it was it was presented and
41:17
it's full nine by. Twelve printout version at the
41:20
Bitcoin conference in Miami sort of Armenian in the other two
41:24
guys Pet Project. We love it.
41:26
It's it's a very it's pretty good.
41:29
Generalization of what's wrong with Fiat and why Bitcoin fixes
41:33
this. It's a passion of mine.
41:35
And whenever I get a chance, at least, at least Mark tells me,
41:39
Hey, whenever you whenever you get a chance, you should go to
41:41
someone, say, did you sign do me?
41:44
So, That's for you mark. Anyways, awesome, awesome
41:48
scores. Got a little deep there, over X
41:52
going to send me the Bubba picture.
41:53
So I could pop it up. He's gonna send it to me right
41:54
now on Twitter. So he doesn't forget because
41:56
sometimes people forget. But anyways, guys, we want, we
41:59
want to know if you agree with our scores, you disagree, let us
42:01
know down in the comment section, kamek, kamek, kamek
42:04
comment, and of course, make sure to subscribe to us and I'll
42:06
turn your video platforms like Rumble.com and Bitcoin tv.com.
42:10
They don't censor their because it's Bitcoin TV and make sure to
42:14
join our Telegram group and you could link us some tank tank
42:17
tank Bitcoin memes to review so we can review them on the
42:20
Bitcoin name review but anyways Phil it's time for the Daily
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All right, everybody, you guys know the drill.
42:56
If you've been tuned in to this channel, if you're new, I'll
42:58
catch you up what we've been on top of this fill every so a
43:03
little bit of context Bitcoin right now is enduring, the
43:08
largest, the biggest social attack I've ever seen.
43:12
And it's somewhat successful, right?
43:14
Essentially, what's happening is that very powerful, interest
43:18
groups political parties, the world economic Forum, a lot of
43:22
very powerful people are using climate as a reason or as a
43:28
method to attack Bitcoin. It's a very powerful social
43:32
attack and its various, and it's relatively successful as well in
43:38
Europe. They almost band proof of work
43:42
because they want to, they want to push proof of stake.
43:45
Only it doesn't work conveniently.
43:46
Read something that they can control conveniently.
43:49
They're pushing proof of stake, but they're trying to actively
43:52
ban proof of work. The vote failed in Europe and
43:56
proof of work was not banned, but in New York state, it's
43:59
actually moving forward. They're banning proof of work
44:02
because it's environmentally damaging.
44:06
This has been a it's been a coordinated attack.
44:08
I might add, this is a tweet from April 21st.
44:11
Have you noticed that every single new political attack on
44:14
Bitcoins proof? I work also always mentions that
44:17
proof of stake is a better solution.
44:18
All of these attacks have very similar language.
44:21
This is the original Huffman letter to the EPA, essentially
44:26
calling on the EPA to ban proof of work because it's quote
44:30
unquote, environmentally damaging there was a senate
44:34
committee on this calling cleaning up cryptocurrency,
44:37
right? It they're setting up the seed
44:40
already. There they're setting up the
44:41
tone cryptocurrency is dirty. At the government we must clean.
44:46
It also EU right tried to ban proof-of-work.
44:51
They didn't accumulate enough political willpower to do it but
44:55
again and the language and there was there is European
44:58
politicians that were caught. Let's push proof of stake.
45:02
But let's kill proof of work, right?
45:05
We had you know this is also in New York state, right?
45:08
Also the world economic Forum, you know, with the debunked
45:11
bullshit, Bitcoin consumes more power than all these countries.
45:15
It's setting the tone it's telling you it's not getting
45:17
into, the nuances is not getting into details, is already telling
45:20
you Bitcoin is bad because it consumes a lot of energy.
45:22
Right? Which is I think it's bullshit.
45:25
I don't think something is bad because it consumes a lot of
45:28
energy. What type of energy is a
45:30
consuming, that's not important to their narrative, which is why
45:32
they're not telling you New York Times articles, right?
45:36
So crazy, crazy stuff. Well, as I've been telling you
45:39
right since the infrastructure Bill bitcoiners really put on
45:44
their pants, And a lot of powerful bitcoiners and I don't
45:48
know if I can get into the details of that but we've
45:51
mobilized, right? And part of that is Chad sailor
45:54
and Jack Dorsey and they put up together something called the
45:58
Bitcoin mining Council. And when it was released, a lot
46:01
of bitcoiners were rightly skeptical because we are just
46:03
like, wait a second Mighty castle and Bitcoin.
46:07
What the fuck are they talking about?
46:08
But we were actually one of the only shows that went on to say,
46:12
I don't think this is perhaps. It's to micromanage mining.
46:16
I think that this is more so to protect the narrative to to
46:21
essentially guard The Narrative from the social attacks.
46:24
And we said that we because that beginning we were very
46:26
skeptical. We're like what the fuck is this
46:27
shit? But when you started doing a
46:29
little bit of digging, you started realizing wait a second,
46:32
right? So that's exactly is that's
46:33
exactly what they're using it for.
46:35
So Dorsey say lured, Fidelity all have huge investments in
46:40
Bitcoin, defend environmental impact of Bitcoin minoring in a
46:44
To the EPA, right? So this is the famous Huffman
46:48
letter, right? We read it to you.
46:50
This was what the one that AOC signed and all that.
46:53
And here's Nick, Carter did, he gets into the nitty-gritty of
46:56
it? And I think he actually was
46:58
responsible for writing this letter, we're going to go
47:01
through some of it. We don't have time to go through
47:03
all of it, but of course, we will put the entirety of the
47:05
letter down below. Make sure if you want to read
47:08
it, you could do. So.
47:09
But anyways, this is what Nick Carter had to say, will the 23
47:12
members of Congress that signed the Huff?
47:14
Open letter to the EPA, read our response, signed by the most
47:18
eminent firms in the Bitcoin space.
47:20
Or will they simply wallow? And continued ignorance?
47:23
I don't think it's ignorance. I think it's purposeful, and I
47:27
think it's because Bitcoin takes power away from government and
47:32
it gives it back to the individuals.
47:34
And there's a lot of people that have a lot to lose if that
47:38
happens, which is why you have such a coordinated attack on so
47:42
many. If this was an isolated
47:44
incident, If this was just Congress Congress men and women
47:48
doing that, then you could say, you know what, maybe it's
47:51
ignorance, but the fact that it's the same talking points and
47:54
New York state in the Union, the cotton the Congress committee,
47:58
the cleaning of crypto in the European Union, by the world
48:03
economic Forum makes you understand that.
48:07
This is a combined attack, not to mention the fact that
48:11
European politicians were caught because some text messages were
48:14
Leaked where they were openly active advocating for proof of
48:19
stake and openly saying, we must kill proof-of-work literally.
48:23
That's what they said. We caught them with literally
48:26
the gun in their hands. Anyways, here's the original
48:31
Hoffman letter. It's two pages are response,
48:33
which could have been much. More comprehensive is eight.
48:36
Perfect example of Brenda Leigh. Knees law, we didn't talk much
48:40
about this. But Congress asking the EPA to
48:43
regulate the kind of Data centers are doing is disturbing
48:47
and authoritarian, understand that this is not just a Bitcoin
48:50
fight, it will touch everything. Soon, this is what we've been
48:54
saying about the ESG bullshit. You control people's energy,
48:59
use, you control people's you control people.
49:03
You still don't believe me, we covered this.
49:05
Not that long ago, new gaming pins PC consumes so much power
49:11
that it's banned in California. So think about it, you In
49:15
America, you can't buy a certain computer because the government
49:20
is telling you that it consumes too much power, what if you make
49:24
your own power? What if you got the solar
49:26
panels, does it matter? According to the government of
49:30
California, it consumes too much power.
49:33
This is insane if you don't see how this will seep into every
49:37
aspect of your life. You drive too far.
49:41
Remember guys, you all nothing and be happy.
49:45
Imagine if we admit the precedent of deeming, certain
49:47
kinds of computational wasteful and giving the state, the power
49:51
under an environmental pretext to determine what is valid and
49:54
what is invalid. Compute Tech Builders throwing a
49:57
proof-of-work under the bus ought to recognize this.
50:00
I'm seeing a few firm saying it's time to build both lost
50:03
during the state attack on proof of work by saying they only
50:06
invested proof of stake. Proof of stake.
50:08
Hasn't been has it been proven to work?
50:11
Is the craziest fucking heart there.
50:14
Still isn't a working working example of proof of stake and I
50:19
still hasn't been done, but they're advocating for.
50:23
And the reason for that is because they cannot control
50:26
proof of work in the reason. They can't control it.
50:29
So therefore, they must use the heavy hand of government to try
50:33
to kill it. I don't think they'll be
50:35
successful, that doesn't mean they won't try.
50:37
That's completely wrong headed and short-sighted building me.
50:40
Means building a high-energy domestic industrial and compute
50:44
infrastructure. Proof-of-work, kicks that off.
50:47
Yes, you can roll over and just let the state run roughshod over
50:51
you and concede to the malthusian zero-sum, ESG framing
50:55
around resource allocation or you could stick up for what's
50:58
true. And right even though it's hard
51:00
and unrewarding, I don't think it's unrewarding.
51:02
I think this is a fight for our lives.
51:03
Do you want to live in slavery? Do you want to live in Freedom,
51:06
right? And proof-of-work plays, a key
51:09
role in that freedom? Anyways here's what the chat
51:12
sailor had to say certain members of Congress and a letter
51:14
to the EPA premise on several misconceptions about Bitcoin
51:18
mining sailor and Nick Knicks lost his patience a little bit.
51:22
I saw his delusion mate over time.
51:25
He was one of the people that would write very good rebuttals
51:29
and he was expecting these people to answer and then he
51:32
started to notice. Holy crap, these people don't
51:35
fucking care about my rebuttals. And the reason for that is
51:38
simple. They don't actually Really give
51:41
a shit. It's a money that they can't
51:44
control, and that is a problem to them.
51:47
We have authored a response to clear up the confusion.
51:50
Correct. Inaccuracies and educate.
51:51
Educate the public, of course, Michael Sailors.
51:54
A CEO of a public company. He's not going to get, as
51:57
political as simply Bitcoin, he's not going to lose his
51:59
patience as Nick Carter, right. He has to be a little bit more
52:02
political in his response, but I think the fact that he says
52:05
premised on several misconceptions really says it
52:08
all. Anyways, here, I'm going to read
52:10
a Little bit of the letter guys. I'm not going to get into all of
52:13
it. This is, this is things that we
52:16
have said, time and time again, we have debunk these Phil Phil
52:21
went into detail. I've gone into detail.
52:23
So you guys know the rebuttals because we've read you the
52:26
rebuttals we've done episodes on the rebuttal so we'll read some
52:30
of it. So anyway, dear administrator
52:33
Reagan, I'm sure they are the head of the EPA or they run the
52:36
EPA during under the bottom ministration.
52:39
The document is intended to Spawn to the letter dated April
52:42
20 at 20, 22 signed. Hold on.
52:45
Kim said it signed by represented Huffman and 22,
52:49
members of Congress provided to your office for consideration.
52:52
Unfortunately the letter is premise on several
52:55
misconceptions about Bitcoin and digital asset mining that have
52:58
been previously been debunked or conflated conflate Bitcoin
53:01
mining with other Industries. We have highlighted specific
53:04
sections of the text of the letter that we will address in
53:07
turn below. So this is just one, we have
53:10
serious concerns. Is regarding reports that
53:12
Bitcoin mining facilities across the country are polluting
53:14
communities. That are having an outsize
53:16
contribution to greenhouse gas. Emissions the statement above
53:19
unfortunately confuses data centers with power generation
53:22
facilities, power generation facilities are not data centers
53:25
data centers which contain miners are no different than
53:27
data centers owned and operated by Amazon, Google meta or
53:31
Microsoft. I'm going to add to that.
53:32
What about the data centers of banks?
53:36
What's going on there, right? What why, why is Bitcoin held to
53:41
a higher has to have wise Bitcoin held to a higher degree
53:47
than other Industries? And this goes on to say look and
53:51
because it's transparent. And here's the key, right?
53:54
As far as outsize contributions are concerned the best data, we
53:59
have suggests the opposite that compared to other industry
54:02
industrial consumer of energy digital asset.
54:04
Mining is notably Sustainable and transparently.
54:07
So according to the Bitcoin mining Council late as q1 survey
54:11
of minors which consists of bottom-up analysis of 50 percent
54:14
of current hash rate Bitcoin miners surveyed use sixty four
54:18
point, six percent, sustainable energy.
54:21
If you extend that analysis globally and using using
54:24
conservative assumptions regarding Energy Mix, Bitcoin
54:27
mining and the aggregate employs an estimated of 58.4 sustainable
54:32
energy. This is markedly more
54:34
sustainable. So than the default US Energy,
54:37
Mix at 21%. So Bitcoin is significantly more
54:44
sustainable than the entire US Energy grid, but for some
54:49
reason, they're obsessed with it, something doesn't add up,
54:55
but the good news is that at least right Bitcoin bitcoiners,
55:01
right? And shout out to George Dorsey.
55:04
Shout out to sailor, shout out to the Bitcoin, mining console,
55:07
that we have her own. We have our own little I
55:11
wouldn't say propaganda because it's true but I don't know.
55:13
Phil, what would you call the Bitcoin mining Council.
55:15
We have our own voice now to fight back these fucking
55:19
bullshitters that essentially take over mainstream media and
55:23
use them to just scream bullshit off the rooftops, right?
55:27
We know that Bitcoin is going to facilitate green energy, green
55:30
energy is not profitable and is literally only being used
55:35
because of government, subsidy Bitcoin makes it so that
55:39
potentially green energy. Horses could be profitable on
55:42
their own without the need of government subsidy.
55:45
So again, what would you call the Bitcoin?
55:48
Mining Council fill its, I wouldn't call it a propaganda
55:51
arm because it's not, it's not propaganda, it's true.
55:53
But what would you call it? What would I call you?
55:57
Because whether it's true, or false, probably exactly.
56:01
At its basis is it's just sit propagating, which is pushing
56:06
out a message. So, even though we're used to
56:09
having a negative connotation, Ation because we're going back,
56:12
you know, WWII Nazism or whatever.
56:14
Think it was created back then but propaganda.
56:17
They I think, in my opinion, when I when I first heard about
56:20
them I'm glad you guys had a generally, okay, just position
56:23
but the Bitcoin not mining Council, it was run by
56:26
microstrategy who's not a minor mining company, but he's a
56:30
bigwig in in the traditional Finance world.
56:33
So I think that he was he's there.
56:35
It's some people think Sailors a bad actor or like he has heat
56:39
disingenuine stuff. We don't need Defendant.
56:41
We don't need to trust him. No, he's just protecting his own
56:45
incentives, exist. As a large investment in Bitcoin
56:48
and essentially, you know, the old saying, the enemy of my
56:50
enemy is my friend. I'm not saying that Michael
56:52
Sailors, an enemy or not. It's the fact that you hold a
56:55
lot of Bitcoin or you, perhaps, you hold some Bitcoin.
56:57
If you watch the show and he holds some Bitcoin, he just
57:00
happens to have billions of dollars to protect his
57:03
Investments. Were Us plebs have to start a
57:05
YouTube channel, right? So again, so I don't know what
57:09
you would call this. Phil, II got to agree though
57:14
with with small Rick you know about the yeah you know it is a
57:17
it is a propaganda platform, you know.
57:19
But the thing is is that it's a very well structured and how
57:24
could I say this very specific, right?
57:27
It has a it's not just like to spread a whole bunch of
57:30
information. It's targeted information and
57:33
it's targeted to specific groups.
57:35
Like you'll notice that it only comes out to play when it needs
57:38
to, right? It's Just constantly spreading
57:42
information smells like us right?
57:43
Where every single day were doing simply Bitcoin like, those
57:46
guys come out only when they have to come out.
57:48
Yep, but I did want to, I did want to touch back on something
57:52
that you said about ignorance, slight push back on it, but I'm
57:57
going to call it willful ignorance because they are being
58:01
willfully. Ignorant.
58:03
They are acting as though, they don't know.
58:06
Okay, so there, it's just like, I'm just gonna willfully.
58:11
Tend that this doesn't exist and I will act as if it doesn't and
58:14
I'll carry on my life as though it doesn't.
58:17
But in fact, it does and I'm actively ignoring it.
58:20
So I think that to a certain extent, I think that there's a
58:24
little bit of that hypocrisy that's going on as well, because
58:26
Niko, you and I have discussed this, you know, multiple times,
58:29
right? Like Bitcoins incentives are
58:31
such that, it, incentivizes the individual.
58:34
So, even though we're acting on our own selfish incentive to
58:38
store our value, and to make it censorship, Distant by doing.
58:42
So we're contributing to the, you know, we're contributing to
58:44
the network and by houghtaling I know that there's some people
58:47
who consider that controversial. But I do think that houghtaling
58:50
does contribute to the Bitcoin Network, right?
58:52
And then some people get a little bit more into it than
58:55
they start, you know. They they run their own note or
58:58
they have a minor, you know, or they have all the a are they,
59:01
you know, they do all these things.
59:02
They huddle, they mind, they have nodes, like, and that's it.
59:06
So, by acting on our own selfish incentive, we end up Doing we
59:11
end up doing the right thing for everyone that ends up joining
59:15
the network and keep in mind. It doesn't matter when they join
59:17
the network. It doesn't matter for how long
59:20
they join the network. We always talk about how Bitcoin
59:22
is truly inclusive because it doesn't have to sell you as
59:25
inclusion. You can simply just join or
59:28
leave the network as you desire. That is that is pure inclusion
59:32
right there. Anyways that's the beauty of
59:33
capitalism, right? The Mew capitalism.
59:35
Capitalism works the same way out of The Selfish pursuit of
59:39
profit. You have to provide Value to
59:41
other people's lives or else they're not going to pay you,
59:43
right? That's literally how it works.
59:45
But at this point but at the end of the day, it's helping you
59:47
feel. It was an open source software
59:49
released today. Why don't everybody about it
59:51
software releases brought to you by Cipher safe, check them out,
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Cipher safe dot IO. The closer, I get to moving the
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more worried I get the where I'm gonna keep my seat and make sure
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that it's secure store your seat in the Cipher wheel or the all
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new Cipher grid. They both come with at a distant
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wire but the grid comes with a punch tool.
1:00:11
All right, guys, we've got Mercury wallet version 0.6 dot
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26. That was released its Down Below
1:00:19
in the show notes, don't forget to check us out.
1:00:22
On our Audio, Only platforms, Apple podcast, Spotify, and
1:00:26
anchor, and if you want to stream a SATs, check us out on
1:00:29
Fountain. Dot f m--.
1:00:30
You could stream a SATs through Breeze.
1:00:33
Awesome. Thank you, Phil.
1:00:34
Alright guys, that was a show before we going to give a very
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special shout-out to our awesome clothing sponsor representative.
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special shout-out to our awesome guest.
1:01:01
Sir, Ulrich, you go give him a follow on Twitter at Kobe, do
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Ron Colby Duran, that's his Twitter, that's his handle, go
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get Follow on Twitter. You can read some awesome
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articles for Bitcoin magazine. Very, very good stuff.
1:01:16
Anyways, guys, that was a Sharpie enjoyed the say no to
1:01:18
spare their life. - of course you want to continue here in the
1:01:20
Bitcoin. He's from the bleep lip
1:01:21
perspective, and the catastrophic fails definitely
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consider subscribing to Simply Bitcoin.
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Don't see Tamar guys for brand-new episode to quote, our
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awesome guest people go into politics to get closer to the
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money printer, Bitcoin. Fixes this