Latest / Simply Bitcoin / FORGET THE FED: Billionaire REVEALS The $200T Paper Bitcoin ENDGAME! | EP 1335

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FORGET THE FED: Billionaire REVEALS The $200T Paper Bitcoin ENDGAME! | EP 1335 · Simply Bitcoin

• 0:00
  Dow, is it possible to have $200 trillion in credit built on top
• 0:06
  of Bitcoin? Everyone's focused on the
• 0:09
  Federal Reserve, Reserve cuts from yesterday, but they've
• 0:12
  completely missed this Bitcoin billionaire.
• 0:15
  What he had to say at the unconference conference in New
• 0:20
  York City yesterday. And of course, who am I talking
• 0:22
  about? The one, the only, Michael
• 0:25
  Saylor. Let's check out the clip.
• 0:28
  This thing is going to be big. There's no reason that credit,
• 0:32
  digital credit, the credit on gold became bigger than the gold
• 0:38
  supply. The digital credit may be bigger
• 0:42
  than the Bitcoin network. If Bitcoin goes to 100 trillion
• 0:45
  or 200 trillion, there could be 200 trillion credit on top of
• 0:49
  it. You know, you may not want to
• 0:51
  issue it. That's up to you.
• 0:53
  Someone will want to buy it, you know, and and that is that is
• 1:01
  the future that the market will determine and the market is 100
• 1:06
  industries, 100 capital markets and your job as a Bitcoin
• 1:10
  treasury company. Solve the problem, solve the
• 1:14
  compliance problem, solve the tax problem, solve the issuance
• 1:18
  problem, solve the credit problem, do the marketing and do
• 1:23
  the product design, solve the distribution problem, evangelize
• 1:28
  the future of digital capital and digital credit and and roll
• 1:33
  with the punches, right. Don't get liquidated on
• 1:37
  volatility. You know, build the most robust
• 1:39
  structure you can. So that's not the only thing
• 1:43
  Michael Saylor said. Michael Saylor just proposed A
• 1:47
  strategic Bitcoin reserve capable of creating up to $81
• 1:51
  trillion in wealth. Read that again.
• 1:55
  Let's check this out. Number five opportunity
• 1:58
  establishing the United States as the global digital leader.
• 2:01
  This is something that Michael Saylor has been saying for many,
• 2:04
  many months now. You the first country to use the
• 2:08
  Fiat money printer to buy Bitcoin is going to win Think
• 2:12
  about it infinite money printing to to buy something that has
• 2:15
  absolute scarcity that only goes in One Direction.
• 2:20
  A strategic digital asset policy can strengthen the US dollar,
• 2:25
  neutralize the national debt, and position America as the
• 2:28
  global leader in the 21st century digital economy.
• 2:32
  USD As the global reserve digital currency grow digital
• 2:36
  currency markets from 25 billion to 10 trillion, creating massive
• 2:41
  of demand for U.S. Treasuries.
• 2:43
  Digital capital growth Expand global digital capital markets
• 2:48
  from 2 trillion to 280 trillion with US investors capturing the
• 2:54
  majority of this wealth. Digital Asset leadership drive
• 2:58
  growth in digital assets beyond Bitcoin from 1 trillion to 590
• 3:04
  trillion, with the United States dominating the industry.
• 3:08
  Strategic Bitcoin Reserve Establish a Bitcoin reserve
• 3:11
  capable of creating 16 to $81 trillion in wealth for the US
• 3:17
  Treasury, providing a pathway to offset national debt.
• 3:22
  Conclusion Seizing the Digital Asset opportunity By
• 3:27
  establishing a clear taxonomy, A legitimate rights based
• 3:33
  framework, and practical compliance obligations, the
• 3:36
  United States can lead the global digital economy.
• 3:40
  A capital markets renaissance fueled by digital assets will
• 3:44
  unlock trillions in wealth, empowering millions of
• 3:47
  businesses and solidify the US dollars, the foundation of the
• 3:51
  21st century digital financial system.
• 3:55
  So Michael Saylor coming in hot. We were covering some news of
• 3:59
  him in Washington, DC talking about the so-called Bitcoin
• 4:05
  Reserve Act that is being pushed forward by the Bitcoin senator,
• 4:09
  Senator Cynthia Lummis. And then he had a 35 minute
• 4:13
  keynote yesterday in New York City at the UN conference
• 4:18
  conference. And we played you guys a clip
• 4:22
  from from part of his keynote there talking about all the
• 4:26
  pools of capital that Bitcoin has yet to be tapped into and
• 4:32
  how it is just the very beginning of how Bitcoin is
• 4:36
  going to revolutionize the financial markets.
• 4:41
  And one of the other things he said, which I found very
• 4:43
  interesting for any Meta Planet holders watching us right now,
• 4:48
  he said that Metaplanet was going to be the most valuable
• 4:52
  company in Japan. That's a big statement from the
• 4:57
  Chad sailor, from Michael Saylor himself.
• 4:59
  So yeah, I mean, lots of stuff to cover, lots of stuff to
• 5:04
  discuss. And of course Michael Saylor,
• 5:07
  you know, coming in hard in the paint.
• 5:09
  I mean his incentives, he's incentivized to do so right now
• 5:13
  Michael Saylor basically has a monopoly he had.
• 5:16
  He is the leader of the Bitcoin treasuries with 600,000 Bitcoin
• 5:22
  and more. I think the closest runner up is
• 5:25
  that like 50,000 Bitcoin or so. So no hopes of of catching
• 5:30
  Michael Saylor and Opti's going to pull up just the Bitcoin
• 5:34
  treasuries.net and just to kind of show you guys the differences
• 5:39
  between all the companies and as you guys could see Michael
• 5:43
  Saylor again, can we make to zoom in a little bit, Opti?
• 5:47
  Thank you. You know, Mara coming in in
• 5:50
  second with 52,000, Bitcoin 21 with 43,000, Bitcoin Standard
• 5:57
  Treasury Company with 30,000, bullish with 24,000, and it just
• 6:02
  keeps going down and down and down.
• 6:04
  So Michael Saylor's obviously incentivized to talk about this,
• 6:08
  to preach Satoshi's gospel and he's saying that it's the first
• 6:14
  innings of the Bitcoin treasury companies.
• 6:17
  Now all of this is happening simultaneously.
• 6:20
  While the Bitcoin treasury companies are taking a little
• 6:23
  bit of a hit to say, to say it nicely.
• 6:28
  They've they have not been performing well, but we have had
• 6:32
  a, a nice pump since the, the, the Fed rate cuts was announced
• 6:39
  yesterday. This is something that everybody
• 6:41
  was predicting. We're at 117,800 U.S. dollars
• 6:48
  per Bitcoin. Opti, I'm going to pass it on to
• 6:51
  you. Opti.
• 6:51
  He's trying to kill a mosquito. So, yeah, I mean, Opti, is
• 6:57
  Michael Saylor overly bullish? What's your take?
• 7:01
  Well, it is interesting 'cause Saylor is usually conservative
• 7:04
  in a lot of his predictions, right?
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  And for him to be so nonchalant about $100 trillion Bitcoin
• 7:11
  market cap, I, I think it's starting to show just how
• 7:15
  bullish he actually is on these Bitcoin treasury companies.
• 7:18
  And there was another clip going around of this conference where
• 7:20
  he was saying he believes there's going to be thousands of
• 7:23
  Bitcoin treasury companies just the same as there's like, you
• 7:26
  know, thousands of insurance companies, thousands of banks,
• 7:28
  etcetera. And I think there there's
• 7:32
  potentially some truth to that. Obviously, I think he is kind of
• 7:37
  talking his bag here. He he, he's leading the pack in
• 7:40
  Bitcoin treasury company. So obviously he's super bullish
• 7:43
  on it. But the big take away though, is
• 7:47
  when he starts talking about what these treasury companies
• 7:50
  are actually doing. And in his words, he was saying
• 7:54
  that Bitcoin treasury companies are essentially recycling
• 7:56
  capital. And as we're seeing as new
• 7:59
  products come to the market, especially coming from Michael
• 8:02
  Saylor himself, you're starting to see that he is tailoring a
• 8:05
  lot of products for different capital markets.
• 8:08
  And if these things do catch on, then you're sorry, mosquitoes,
• 8:12
  mosquitoes all up in my face. If these different products do
• 8:15
  tap into these different capital markets, then they are obviously
• 8:20
  a way to funnel literally trillions of dollars into
• 8:24
  Bitcoin. As he was explaining it.
• 8:26
  Now you know, the regulatory clarity is starting to clear up.
• 8:30
  There's security clarities because now, you know, all of
• 8:33
  the loopholes that people need to get into Bitcoin are
• 8:35
  essentially cleared with these strategy products.
• 8:39
  And so if this does catch on and maybe this is just the early
• 8:42
  high bubble and what we're seeing with Bitcoin treasury
• 8:44
  companies, I don't think they're going away per SE.
• 8:46
  I, I think there is actually a market fit for them.
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  Like I've been saying, we're seeing a lot of transformation
• 8:53
  going on in the markets right now and a lot of people are
• 8:56
  looking for alternative investment and maybe they're not
• 8:59
  fully convinced that they should just go straight into Bitcoin.
• 9:03
  But if they're able to get their capital easily into Bitcoin
• 9:07
  products, then I think we are going to see what Sailor is
• 9:11
  talking about now, $100 trillion market cap.
• 9:15
  What that's like a 50X from here in Mark in terms of market cap
• 9:19
  that would be extremely bullish. Obviously he didn't give us a
• 9:22
  timeline here. He just said I see this
• 9:24
  happening at some point in the future.
• 9:26
  So he's not saying, you know 100 trillion in four or five years
• 9:30
  or something like that. But I think what we are seeing
• 9:34
  that is very interesting is there is that first influx of
• 9:37
  capital coming into Bitcoin from institutions.
• 9:39
  Obviously they take a while to kind of turn around.
• 9:43
  So I, I definitely think that $100 trillion market cap is in
• 9:47
  Bitcoin's future. Of course, as everyone's kind of
• 9:50
  saying, can we just like get to 152100K, You know, maybe just
• 9:54
  get past the gold market cap here first before we start
• 9:57
  talking about all these crazy big numbers.
• 9:59
  But we got to remember Croesus's chart here.
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  There's 1000 trillion dollars in global capital, and if Bitcoin
• 10:06
  just takes us, you know, a larger portion of that capital
• 10:10
  than we have today. It's not that crazy to think
• 10:14
  that Bitcoin can get to these levels.
• 10:16
  I know if you're newer to Bitcoin or you're not really a
• 10:18
  believer in Bitcoin, you're like, these Bitcoin guys are
• 10:20
  crazy. Like there's no way that this is
• 10:23
  going to happen, at least not in our lifetimes.
• 10:27
  And I would take the opposite. I think we are very much
• 10:29
  underestimating how hard the capital can flow into Bitcoin.
• 10:34
  We're underestimating how high Bitcoin can actually go.
• 10:37
  As the meme always goes, there is no top to Bitcoin because
• 10:41
  there's no bottom to Fiat. They can just print this to
• 10:43
  Infinity. They're they're just going to
• 10:45
  continue to print. And if we saw anything coming
• 10:47
  out of the rate cut meeting yesterday, I don't know if you
• 10:49
  guys saw, but the markets were pretty volatile during the
• 10:52
  meeting. As the market was digesting that
• 10:54
  information, they essentially conceded the point that they are
• 11:00
  going to continue to print. They don't care about inflation.
• 11:03
  The only thing they're really caring about right now is
• 11:06
  employment rates. And So what that's telling us
• 11:09
  is, hey, the money printer is going to come on really strong.
• 11:13
  They're probably going to get a couple more rate cuts.
• 11:15
  I will kind of break break this down a little bit.
• 11:21
  Whoa, what's going on with this? This looks weird.
• 11:24
  They just changed it. Oh.
• 11:26
  Oh, you did that OK. Mind of Eli, I think those
• 11:29
  bedroom walls are just giant murals of sailor shirtless
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  riding a horse. This is true.
• 11:34
  This is true. I can confirm.
• 11:36
  I can't confirm, but all right, so 100 trillion, again, if
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  that's the given of this conversation that we'll go to
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  100, a $100 trillion market cap and that's how we'll get a $200
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  trillion credit market on top of it.
• 11:52
  Of course we got to, we got to assume that 100 trillion is is
• 11:56
  obviously in play. Now, when he's talking about the
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  $200 trillion credit market on top of Bitcoin, it's essentially
• 12:03
  saying like a $300 trillion combined market of spot Bitcoin
• 12:09
  plus credit products on top of Bitcoin.
• 12:12
  And while I was watching the clip, even though it's extremely
• 12:14
  bullish because he's talking about $100 trillion market cap,
• 12:17
  the $200 trillion market cap does concern me a little more.
• 12:22
  Essentially, from that clip, it does sound like he's saying
• 12:25
  paper Bitcoin summer is never going to end and it's going it's
• 12:28
  going to get way bigger than it is now, which probably brings,
• 12:32
  you know, pros and cons to it. One, of course, you know, making
• 12:36
  credit or debt obligations in Bitcoin in the future, or rather
• 12:41
  maybe in the current time, in the next 5 to 10 years.
• 12:45
  It does seem like a risky bet considering if Bitcoin does RIP
• 12:49
  as much as we think it will, it'd be extremely hard to pay
• 12:51
  back those debt obligations. I'm guessing at 100 trillion,
• 12:56
  though, he's assuming that the Bitcoin price will gradually
• 12:59
  increase and it won't have parabolic runs by 100 trillion.
• 13:02
  I guess we won't really care. I think that's what like a $4.76
• 13:06
  million Bitcoin and by then it would be a large portion of
• 13:11
  people adopting Bitcoin. So maybe that's not the biggest
• 13:15
  concern here. I do think he is right though,
• 13:19
  as we're seeing with strategy and as we're seeing with these
• 13:22
  Bitcoin treasury companies, there is some kind of appetite
• 13:25
  for debt obligations in Bitcoin. And obviously, if we're going to
• 13:29
  be building the next financial system here with Bitcoin, if
• 13:33
  Bitcoin is the next monetary order or the next, you know,
• 13:38
  fundamental piping of the future economy, then I, I do believe
• 13:42
  there will be, there still is going to be debt.
• 13:45
  People will still want credit. And if we are seeing what is
• 13:49
  happening clearly, then it does look like Wall Street
• 13:52
  institutions, etcetera, they will want credit and debt
• 13:56
  products. And so I think as we've seen
• 13:59
  with Saylor, he has been very forward thinking and at
• 14:03
  sometimes genius level and he's taking a lot of Flack for it.
• 14:06
  So I think he might be projecting the end game of where
• 14:10
  we are actually going. I know it's not exactly what
• 14:12
  everyone wants to see. We we all want to, or at least
• 14:15
  for a long time, Bitcoiners wanted to believe that
• 14:18
  everyone's just going to be using Bitcoin peer-to-peer.
• 14:21
  There won't be any debt in the system.
• 14:24
  But that's just not how business works in the real world.
• 14:26
  Businesses do take out debt and I do think in the future that
• 14:30
  businesses will take out that debt in Bitcoin.
• 14:32
  Maybe in the, in the short term, it's going to be extremely hard
• 14:36
  to pay back that debt in Bitcoin in Bitcoin terms.
• 14:39
  But I think in the future when things are stabilized a little
• 14:41
  more, I, I don't think that these predictions are as crazy
• 14:44
  as they sound. Obviously I'm as bullish as
• 14:47
  anyone else and I think $100 trillion market cap in Bitcoin
• 14:50
  is going to happen, whether that's in my lifetime or like,
• 14:53
  you know, future lifetimes, I don't know.
• 14:56
  But I do think it's a it's a very real possibility of it's
• 15:01
  happening. So I don't think he's that crazy
• 15:04
  to say all this. He's obviously super bullish on
• 15:06
  Bitcoin treasury companies. He's pretty much staked his
• 15:09
  reputation on Bitcoin treasury companies working, but it does
• 15:13
  seem to be playing out as he's predicted in the past a few
• 15:16
  times. So, hey, $200 trillion credit
• 15:20
  market on top of Bitcoin, $100 trillion market cap.
• 15:23
  I kind of like it. I'm I'm kind of OK with it, even
• 15:25
  though it does sound like more paper Bitcoin in the system.
• 15:30
  It is what it is. I think.
• 15:31
  I think that's, that's just kind of where we're at right now.
• 15:34
  Yeah, yeah. But I will say, you know, I, I,
• 15:38
  I did watch, you know, that entire thing.
• 15:40
  By the way, shout out to the unconference guys, Tim Kotzman,
• 15:45
  his executive producer. They put together a fantastic
• 15:48
  event, saw a lot of predominant Bitcoiners in the crowd.
• 15:52
  And you know, I got to give them credit where credit is due.
• 15:55
  I saw that entire 35 minute presentation.
• 15:59
  It was fabulous. It was fantastic.
• 16:02
  And again, it was kind of going into Bitcoin from a different
• 16:06
  angle from the financial markets angle and the from the financial
• 16:11
  markets angle. It wasn't really going it
• 16:13
  through how we cover it here on simply Bitcoin, which is, you
• 16:17
  know, stay humble, stack stats, stay solvent, put that Bitcoin
• 16:20
  into self custody. That's really our angle.
• 16:22
  But again, this is good for number go up.
• 16:26
  And I think I'm just going to pull up this this very famous
• 16:33
  chart that has made the rounds by Jesse Myers, and it's
• 16:39
  basically talking about Bitcoins total addressable market, $900
• 16:45
  trillion of it. Jack Baller's famousy talks
• 16:48
  about how he believes that Bitcoin is a $500 trillion
• 16:52
  asset. You know, so you just divide 2
• 16:56
  trillion by 500, right? We still got a long ways to go.
• 17:01
  That's about a 250 X SO250X. Is is is pretty gnarly, is it
• 17:07
  not? But it it kind of breaks, I'll
• 17:10
  take that. It kind of breaks down the, you
• 17:13
  know, the different asset classes in the world today.
• 17:16
  And what Sailor is doing is really intelligent, intelligent
• 17:19
  as, as actually Mark Moss. You, you saw that episode, that
• 17:23
  episode that I did with Mark Moss.
• 17:25
  Yeah, yeah, it was great. And Mark Moss is essentially
• 17:28
  making the case that most of the world's capital is not is is
• 17:33
  unaccessible. I think he was making the case
• 17:35
  that like 90% of the world's capital is not accessible to
• 17:39
  Bitcoin. People can't just get access to
• 17:42
  Bitcoin. So what Sailor is doing is
• 17:45
  genius because essentially he's building specific products and
• 17:49
  apparently he's using the demons as Opti calls them a is to build
• 17:55
  different financial. Elon's words, not mine, Nico.
• 17:57
  Different financial products to tap into different pools of
• 18:02
  capital and it's extremely intelligent because essentially
• 18:06
  these pools of capital would normally not want access to not
• 18:10
  have access to Bitcoin. So he's going after the fixed
• 18:15
  income investors. So the fixed income investors
• 18:17
  are usually people that buy bonds.
• 18:19
  He's creating a superior product, you know, offering them
• 18:23
  stable 10% yearly yield. But in reality, he's he, he's
• 18:30
  getting the upside of that, right?
• 18:32
  So he's providing that that stability, so to speak.
• 18:35
  So he's creating different financial products for all these
• 18:38
  different pools of capital, whether it's bonds, obviously
• 18:42
  money equities, you know, and I think obviously Bitcoin is just
• 18:46
  going to overtake gold. If Bitcoin reaches the market
• 18:50
  cap of gold, which is currently at 22 trillion, I believe gold's
• 18:53
  been crushing it. So I believe it's gonna it's
• 18:58
  that's that's about $1,000,000 per coin, right?
• 19:02
  So yeah. So this is what sailor's doing.
• 19:05
  He's he he was proven right. He paid his price of tuition.
• 19:09
  I never forget at Pacific Bitcoin in Los Angeles at the
• 19:13
  bottom of the bear market and, and year of 2022, Sailor was
• 19:20
  sitting on the front in the front state in the front row.
• 19:24
  And he was, I could tell he was, he was visibly frustrated a
• 19:30
  little bit. His company was down billions of
• 19:32
  dollars and we've all been there.
• 19:35
  That's the thing. We've all been there.
• 19:37
  We've all paid our price of tuition when it comes to Bitcoin
• 19:41
  and Sailor was vindicated and his company performed because of
• 19:45
  that. But I think Sailors role in all
• 19:48
  this is bringing Bitcoin to Wall Street.
• 19:52
  I think with that Sailors role here, that's, that's the role
• 19:56
  that he's picked up, that's the role that he's playing.
• 20:00
  And I think he's doing it extremely successfully.
• 20:02
  And one of the things that he said last year that I mean,
• 20:05
  sorry, yesterday that really caught my attention.
• 20:07
  He says, he says this is year one of Bitcoin becoming a
• 20:13
  financial, a financial asset or entering Wall Street.
• 20:17
  This is year one of Bitcoin doing that.
• 20:21
  So I think that was a a, a, a behemoth statement.
• 20:24
  I think that was a very big statement for Michael Saylor to
• 20:27
  say that. And I agree with him.
• 20:29
  I, I think also I saw Adam Back talk about this as well and he
• 20:34
  believes that every, I believe it was Adam back.
• 20:37
  I could be wrong there, but basically the TLDR is that every
• 20:41
  company is going to become a Bitcoin treasury company at one
• 20:44
  point. And I think you won't have a
• 20:46
  choice. I think that's the thing that
• 20:48
  people, people misunderstand because if you take a look at
• 20:52
  how much cash or cash equivalents, the companies like
• 20:56
  Apple, companies like Google, you know, like the big, the big
• 21:01
  seven tech stocks other than Tesla, you know, if you look at
• 21:05
  them, they're holding large amounts of cash.
• 21:08
  And you know, with the purchasing power of cash
• 21:11
  continuing to decrease on a yearly basis, imagine if they
• 21:14
  just put two or three or four or 5% of that cash into Bitcoin.
• 21:20
  Not only will it make up for the loss in purchasing power due to
• 21:24
  inflation, but it will actually increase the purchasing power of
• 21:29
  that that extra cash that they have that they parked it in
• 21:32
  Bitcoin. And that's the case that Michael
• 21:34
  Saylor's trying to make. Now, these companies don't have
• 21:37
  the necessity because of how profitable they are.
• 21:40
  They're making so much profitable.
• 21:42
  Their stocks are performing so well.
• 21:44
  They don't really have an incentive to do that.
• 21:46
  But imagine if they did, imagine how much more profitable they
• 21:50
  would be. Imagine how much better their
• 21:52
  stock would perform. This was the case that Michael
• 21:55
  Saylor was making towards Microsoft where he made that
• 21:57
  three minute presentation for Microsoft, basically trying to
• 22:01
  convince the Microsoft executives to buy Bitcoin.
• 22:04
  This is the case that he was saying, it's like, look like
• 22:07
  you're sitting the cash that you have on hand, you're sitting on
• 22:11
  melting ice cubes. If you don't get on the Bitcoin
• 22:14
  train, you're going to get left behind.
• 22:16
  But again, that creates opportunities for other
• 22:18
  companies that are willing to pioneer, are willing to take on
• 22:22
  that risk and they're going to get all the benefits.
• 22:25
  So the next thing that I'll say is I think that there's going to
• 22:29
  be more and more treasury companies.
• 22:31
  I think right now the treasury companies that are at a
• 22:34
  discount. The last time I checked the M
• 22:36
  NAV of of MicroStrategy was at 1.44.
• 22:42
  So I mean, I think that as soon as Bitcoin starts to RIP to the
• 22:46
  upside like a real RIP, not this like fake BS rips that we've
• 22:50
  been having where it goes up from 114 to 117, then it goes
• 22:55
  back down to 114. None of these like stable coin
• 22:59
  Bitcoin rips. I'm talking about a real RIP
• 23:02
  from like 117 where we are now to like 140 a 150.
• 23:08
  I think a lot of these treasury companies are going to start to
• 23:10
  perform very well. Opti's crossing his fingers
• 23:13
  because we've been here. We have kind of PTSD at this
• 23:16
  moment. Anyways, I'm going to pass it on
• 23:18
  to Opti. Opti, I want to get your
• 23:19
  thoughts on this. Also do want to give a shout out
• 23:21
  to the audience of 483 people watching live on YouTube 1000 or
• 23:26
  so watching live on X and of course, shout out to the rebel
• 23:30
  audience always coming in Hot 100 live viewers on X.
• 23:33
  If you guys are enjoying simply Bitcoin live, the most watched
• 23:36
  Bitcoin only live show on on planet earth, make sure to smash
• 23:41
  that like button really really helps with the algos where we at
• 23:45
  on on YouTube right now we're at 93 likes help us break 150 likes
• 23:51
  by the time we get to the 30 minute mark.
• 23:54
  I know we could do it. If you guys are enjoying the
• 23:56
  show smash that like button. I see a a comment I do want to I
• 24:00
  do want to pull it up. Let's check it.
• 24:02
  Let's check it out. Here it is.
• 24:05
  It is by verbal, he says. Nico, the problem is that these
• 24:09
  treasury companies aren't profitable and underwater.
• 24:12
  It's risky to buy a stock if Bitcoin is the only thing
• 24:15
  they're banking on. Bro, I agree.
• 24:17
  That's why we literally talk about buying spot Bitcoin and
• 24:20
  put it into self custody. That's literally what we talk
• 24:23
  about every single day. But if you are willing, if you
• 24:27
  do have a risk appetite, some people are looking at these
• 24:31
  treasury companies as a way to grow their Bitcoin positions.
• 24:36
  That's what a lot of these Bitcoin Ogs, that's what they're
• 24:39
  trying to do. And but again, it does come with
• 24:44
  risk, right? And obviously, if you're willing
• 24:47
  to take on that risk, you know, you can be rewarded or you can
• 24:52
  wreck yourself. But you know, you you guys know
• 24:55
  what we like to do here at simply Bitcoin, which is stay
• 24:58
  humble, stack sats put that Bitcoin into self custody and
• 25:03
  then ride into the sunset with Opti next to you, you know, with
• 25:07
  his shirt a little bit on buttons, you know, driving down.
• 25:12
  AO pause. Driving down South Beach, you
• 25:14
  know, Washington Ave. And yeah, that's that's that's
• 25:20
  that's, that's. Nico talking about his fantasies
• 25:23
  here, that's crazy. That's.
• 25:24
  The name of the game. That's the name of the game.
• 25:28
  That's the name, No Nico. I do want to hit on Who let this
• 25:34
  guy around the soundboard. I think what Verbal's saying is,
• 25:40
  is definitely one of the key factors going on.
• 25:44
  Even Saylor himself said that his company was a zombie company
• 25:49
  until they found Bitcoin. He was, you know, trying
• 25:52
  everything to essentially continue progressing his company
• 25:57
  and growing his company. And until he found Bitcoin, he
• 26:00
  wasn't able to do that. And you're right, verbal, like
• 26:04
  what we are seeing is a lot of companies that would consider
• 26:07
  themselves zombie companies and we've seen what they've done to
• 26:11
  quote zombie companies right now.
• 26:13
  And yeah, you know, that's why we are always recommending spot
• 26:18
  Bitcoin because the risk from our perspective is just like
• 26:21
  it's not there or the ROI on this is just not like the risk
• 26:25
  is there and the ROI is just, it doesn't really make sense to us.
• 26:28
  And as we always try to tell people, it's like if you don't
• 26:31
  understand what you're investing in, then you probably shouldn't
• 26:33
  be investing in it. And in hindsight, if we all knew
• 26:36
  what strategy was going to do in 2020, I'm sure we will all would
• 26:39
  have at least bought a little bit of a position.
• 26:42
  But we had no clue. And I think what is going to be
• 26:47
  the differentiating factor as we move forward is seeing companies
• 26:51
  that are, are currently profitable going into Bitcoin.
• 26:55
  And when you talk about Bitcoin treasury companies, I think
• 26:58
  there needs to be a distinction between what we're actually
• 27:02
  talking about. Because when we say Bitcoin
• 27:04
  treasury companies, we're all kind of thinking in the frame of
• 27:09
  what strategy has done the strategy playbook where it's
• 27:11
  like, you know, you take out debt and you just buy Bitcoin
• 27:13
  and that's basically your whole business model.
• 27:16
  But every company has a quote UN quote treasury.
• 27:19
  It's just what are they denominating their their profits
• 27:22
  in? Is it in Fiat?
• 27:24
  Is it buying more treasuries from, you know, government debt?
• 27:29
  That's fake news, Chef Tommy's fake news.
• 27:33
  But what we are going to see, and I think when a lot of people
• 27:36
  talk about Bitcoin treasury companies, we're when they're
• 27:39
  saying there's going to be thousands of them.
• 27:42
  Yes, sailors particularly said there will be thousands Bitcoin
• 27:45
  treasury companies, like there are thousand insurance companies
• 27:48
  or thousand credit unions, et cetera.
• 27:50
  And I do think he does have a point, but there's going to be
• 27:52
  millions of treasury companies in the sense that every company,
• 27:56
  if they want to stay profitable, if they want to stay
• 27:58
  competitive, we'll have to have Bitcoin on their balance sheet.
• 28:01
  And that's a little different than saying, oh, we're just
• 28:04
  going to take out a lot of debt and buy Bitcoin.
• 28:07
  The different conversation here is a treasury company stacking
• 28:10
  profits into Bitcoin so that they can maintain their runway.
• 28:14
  And I think that is, I mean, I know infinite is like, you can't
• 28:18
  really say that 'cause there is a a certain number of companies
• 28:21
  in the world, but it's basically going to be every company that's
• 28:24
  going to have to hold Bitcoin. And so the treasury company
• 28:27
  ecosystem, it just my differentiation of what you
• 28:30
  consider a treasury company. I think it's going to expand.
• 28:33
  Will there be as many strategies, I think sailors
• 28:37
  saying there will be thousands of those and I kind of agree.
• 28:39
  I think there will be and we've been talking about that a lot on
• 28:42
  the show. There's I think there's going to
• 28:43
  be a multiple copycats and some of them will figure it out.
• 28:46
  But I think every company will have Bitcoin on their balance
• 28:49
  sheet. And you can also consider that a
• 28:52
  corporate treasury Bitcoin play. So I think there is there's
• 28:57
  there's stuff lost in a nuance when you talk about this,
• 28:59
  because of course there's short sound bites.
• 29:01
  You got to get the mimetics. You want to get the most
• 29:03
  engaging shock and all kind of clip.
• 29:06
  And so as we've seen with Sailor, he's been killing it.
• 29:10
  You know, it's hard to look at what he's done and not be like,
• 29:14
  yeah, this is this was a great move for his company.
• 29:17
  But I do agree once we see the most profitable, like once we
• 29:20
  see the Mag 7 just stacking Bitcoin with profits, then think
• 29:25
  they're going to completely. I mean, I meant all of the mag.
• 29:27
  Seven we have. One we have.
• 29:29
  I know as much as. Tesla Mag 7.
• 29:31
  Yeah, of course I know that. I know that that Opti does not
• 29:35
  like Elon and AI, but I do. I'm a big fan of Elon self
• 29:40
  driving cars and rockets and he owns Bitcoin and he bought X
• 29:47
  which was pretty cool. So, I mean, I know you don't
• 29:52
  like Elon Opti. But it's not that I don't like
• 29:55
  him, I'm just suspect. His Tesla does hold a lot of
• 30:01
  Bitcoin. It does they're.
• 30:03
  They're on here. I think they were #11 it's #11
• 30:06
  dude, yeah, they're 11. So you know what?
• 30:08
  You know what, the thing with Elon that like kind of kind of
• 30:12
  he got tapped on the shoulder, bro, Remember, remember how?
• 30:16
  Remember how Tesla used to accept Bitcoin?
• 30:21
  Remember that? And he said.
• 30:25
  Until the data comes out that Bitcoin is 51% greed, we're not
• 30:28
  gonna take payments again. And then it happens.
• 30:30
  It is. And then we never we never heard
• 30:32
  from him again as it relates to Bitcoin.
• 30:34
  He just stayed quiet. So like something happened.
• 30:38
  He must have gotten tapped on the shoulder.
• 30:40
  But again, like, don't pay attention to what they say or
• 30:42
  they don't say better said, pay attention to what they do.
• 30:47
  Someone in the chat Opti thinks Elon is an alien.
• 30:49
  That's hilarious dude. Our chat is undefeated bro.
• 30:54
  I might, I might, wouldn't be the craziest thing said on the
• 30:58
  show. Senor Papi, says optius SUS.
• 31:02
  Hey, get out of here. Someone, Ryan says, cured
• 31:05
  blindness. Come on.
• 31:08
  Someone says Tesla accepts. Bitcoin again.
• 31:10
  They do. Do they?
• 31:12
  I don't know. I'm going to the I'm going to
• 31:14
  tesla.com right now. Yeah, Nika's going to buy me a
• 31:16
  Tesla with his Bitcoin. Not anymore.
• 31:22
  Not anymore. Not anymore.
• 31:24
  Opti Opti, you know, he said. He said he missed me.
• 31:27
  When? And now I don't he.
• 31:34
  Said he missed me while while I was.
• 31:35
  Let's pull, pull this up. Let's let's let's shop for my
• 31:38
  Tesla right now and see if we can pay it in Bitcoin.
• 31:41
  I don't. I don't see any.
• 31:42
  I don't see AI. Don't see an option.
• 31:45
  Dude. I don't see an option.
• 31:48
  I do not see an option. I do not see an option.
• 31:52
  Go to, go to order now wait. Do you pay for it first?
• 31:55
  And do you order and then pay for it?
• 31:57
  How does this work? I think you have to build it
• 31:59
  first. White interior.
• 32:03
  Yeah, let's get that white interior with the black rims,
• 32:06
  hey? Where is order?
• 32:07
  It just says order with card. I don't see no Bitcoin here.
• 32:11
  That was misinformation you cannot buy here.
• 32:15
  Wait, let me see. No, it only says card.
• 32:20
  It only said this is fake news. Congregate with the demon.
• 32:23
  Tesla only accepts Dodge coins. That was yeah.
• 32:30
  This is literally on Tesla support.
• 32:32
  That's crazy. That was fake news.
• 32:35
  That was fake news. That was fake news.
• 32:38
  Here we go from their website. Tesla only accepts Dodge.
• 32:42
  OK, how many Dodge coin do you need to buy a Tesla?
• 32:47
  Yeah, that's crazy. This is fake news.
• 32:50
  This is fake news anyways, so Tesla, so again, he never, he
• 32:55
  never brought it back. He never brought it back.
• 33:00
  That's funny, man. And he got tapped on the
• 33:04
  shoulder. He got tapped.
• 33:05
  He must have been tapped on the shoulder.
• 33:07
  Bro cannot. There's no other explanation for
• 33:10
  this. You have another explanation
• 33:13
  for. That he's just not as smart as
• 33:16
  everyone thinks he is. Dude builds rockets bro anyways.
• 33:20
  He bought a company that builds rockets, right?
• 33:23
  Anyways, guys, we're happy to have you on the stream.
• 33:26
  Happy to be back on the stream. But traveling for like these
• 33:29
  last couple weeks, it's been crazy.
• 33:32
  I was in Rio on Sunday. Before that I was in Paraguay.
• 33:36
  I was in Italy. I was in, I was in Spain, then
• 33:40
  Latvia, then Helsinki in in Finland.
• 33:46
  It's been crazy traveling all these conferences.
• 33:48
  I'm happy to be back in the hot seat with my Co host who hates
• 33:52
  me but you know. I just like to troll you, but
• 33:56
  it's it's. Good to be here and it's going
• 33:59
  to be a fantastic show anyway. Oh my God, who are these idiots?
• 34:07
  Welcome anyways, if you guys are enjoying the show so far, you
• 34:09
  know what to do smash that like button really, really helps with
• 34:13
  the algos and pushing this message forward.
• 34:16
  We're at 523 live viewers on YouTube, 129 likes.
• 34:22
  Smash that like button help us break.
• 34:24
  Elaine says I need to straighten Nico out about Elon.
• 34:28
  Elaine, he agrees with you. Apparently Elaine agrees with
• 34:31
  you. Dude.
• 34:33
  Loco. OK, we we started an Elon.
• 34:35
  OK, let's keep it moving. Enough of Elon.
• 34:38
  Loco says he funds people who build rockets.
• 34:41
  He like Bill Gates and Steve Jobs.
• 34:43
  They have the vision and the funding anyways.
• 34:45
  Hey, Steve Jobs was the goat though.
• 34:49
  Steve Jobs was the GOAT. Steve Jobs was the goat.
• 34:52
  Anyways, guys, it's going to be a fantastic show.
• 34:55
  We have tons to cover. Michael Saylor, yesterday, he
• 34:59
  chimed in on the corvus knots debate.
• 35:02
  So we're going to cover that. Very, very spicy.
• 35:05
  And then also during the new segment, we have some regulatory
• 35:09
  updates. The European Union continues to
• 35:12
  go down the CBDC route for some reason.
• 35:16
  You know, in the United States, again, they're trying to squeeze
• 35:18
  into regulation banning CBD CS outright.
• 35:22
  So we're going to cover all of that.
• 35:24
  It's going to be a great show. And then Opti, what do you have
• 35:27
  for the culture section? I'm going to kind of take a
• 35:29
  victory lap. I, I think my macro analysis was
• 35:32
  pretty good. Maybe I got a little bearish for
• 35:34
  a second, but I kind of hit the nail on the head, Nico.
• 35:37
  Maybe I am the macro expert here.
• 35:38
  I told you you're the in house macro expert and and you said
• 35:42
  no. No, I'm not a macro expert.
• 35:45
  I'm just learning. I'm a amateur.
• 35:47
  Anyways, guys, it's gonna be a fantastic show.
• 35:50
  Smash the like button. We still have tons to cover
• 35:52
  today on simply Bitcoin Live. We're at 100 and 29142 likes.
• 35:59
  We're eight likes away from 150 already, so smash that like
• 36:03
  button Shout out to the live stream.
• 36:05
  We love you guys all and we're gonna move on to the next
• 36:09
  segment. Before we do that, guys, you
• 36:11
  guys know the deal. Simply, Bitcoin is powered by
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  our amazing partners and we're very picky on who we choose to
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• 37:20
  the show. We have tons to talk about.
• 37:22
  We're going to be right back in just a second.
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  At the time of recording, the Bitcoin price is $117,740 sats
• 39:20
  per dollar 849 sats per dollar Block height 915,281 Realize
• 39:27
  monetary inflation .84% market cap 2.35 trillion Bitcoin versus
• 39:33
  gold market cap 9.08% percentage issued 94.87% of the Bitcoin
• 39:41
  supply has been issued. So we're not even at 100% yet.
• 39:45
  Anyways, I don't think this is the right one, but I did
• 39:51
  download the right. One it is.
• 39:53
  It's just Kaiser's tweeting it. Kaiser has some some thoughts,
• 39:58
  but anyways, Michael Saylor chimed in on the core versus
• 40:02
  knots debates and he picked a side.
• 40:05
  Let's check it out. And so I think protocol
• 40:09
  proposals, however well-intentioned, can go
• 40:13
  horribly wrong. And I think that the late debate
• 40:17
  that this debate we see right now over OP return limits, this
• 40:20
  is actually a second order or maybe even a third order change.
• 40:25
  It's it's not changing, you know, it's not changing the
• 40:28
  amount of Bitcoin, which of course is an atomic 0 order
• 40:31
  change. It's not changing the block
• 40:32
  side, which is a first order change.
• 40:34
  It's, you know, it's somewhere in the second and a half to 3rd
• 40:37
  order. But the reaction of the
• 40:38
  community, which is, you know, to reject it, you know, an
• 40:42
  inflammatory reaction I thought was a healthy response.
• 40:45
  It's healthy to be skeptical of 1/3 order change to the
• 40:49
  protocol, right? Because it might become a second
• 40:53
  order change and it might be. And if it's a first order
• 40:55
  change, it puts everything at risk.
• 40:56
  And, and the biggest danger is a very talented, well funded,
• 41:00
  well-intentioned developer trying to do something good.
• 41:06
  That's the danger, right? Fun.
• 41:08
  And and that is fundamentally the issue, which is a very
• 41:10
  competent, well funded, well-intentioned developer that
• 41:15
  wants to upgrade the protocol. That is the risk.
• 41:19
  The risk is I've said this tongue in cheek before in my
• 41:23
  long business career. I don't regret my bad ideas
• 41:26
  because no one's stupid enough to to pursue their bad ideas.
• 41:30
  I regret all of the good ideas that I pursued to the, you know,
• 41:35
  to the detriment of my great idea.
• 41:38
  Like it's the good ideas that that actually dilute the
• 41:41
  product, dilute the brand, dilute the network and destroy
• 41:43
  the company. The good ideas will destroy the
• 41:46
  company. The good, the good idea for
• 41:48
  Bitcoin will destroy Bitcoin. And if I want to destroy
• 41:51
  Bitcoin, I would just fund infinite developers who are very
• 41:54
  talented and tell them to make it better.
• 41:59
  I mean, that's a very clear stance, obviously.
• 42:03
  Is it? Is it though?
• 42:04
  Yes, of course he's for ossification.
• 42:06
  That's what that means bro. K.
• 42:09
  He's clearly in the ossification camp, which by the way, I'm on
• 42:12
  the ossification camp too. I think Bitcoin should just be
• 42:14
  money. So I'm kind of on the.
• 42:18
  So no more core updates. I, I think no.
• 42:22
  OK, so let's talk about this. This is a very good discussion
• 42:25
  and I think a lot of people actually have requested this in
• 42:28
  the in the chat. And please let us know in the
• 42:29
  chat what you guys think. Yeah.
• 42:31
  Is he knots or core ossification?
• 42:33
  Actually, we should. We should launch a poll.
• 42:37
  Let's see. Let's see.
• 42:39
  Start a poll. Knots or core?
• 42:44
  I saw a lot of people saying that he was like pro Nazir.
• 42:47
  That's what he said. But then, but I know.
• 42:51
  But if you listen to what he says, you could also say that
• 42:54
  he's kind of saying a dig at Luke.
• 42:58
  OK, look, I'm, I'm not going to get into any of that, but what
• 43:02
  I'm going to say is like, look like here, OK.
• 43:07
  So I'll give you guys an example.
• 43:10
  Do you guys remember the ordinals?
• 43:12
  The whole ordinal thing that happened?
• 43:15
  From my understanding that happened because of the the
• 43:19
  taproot implementation. The taproot.
• 43:22
  Upgrade. Yeah, the Taproot upgrade
• 43:25
  allowed ordinals to happen, so everyone and their mother was on
• 43:31
  board with Tapper. Everyone wanted Tapper.
• 43:35
  What he's talking about and what I'm talking about is that there
• 43:38
  are unintended consequences to updating Bitcoin and we have to
• 43:43
  be very careful with those unintended consequences.
• 43:48
  And people don't people misunderestimate the listen,
• 43:55
  Bitcoin right now is perfect money, right?
• 43:58
  You have to be very careful when you change it because there are
• 44:02
  unintended consequences of changing Bitcoin that you might
• 44:06
  not foresee when you change Bitcoin.
• 44:09
  And that's exactly what happened with Taproot, which led to
• 44:12
  Ordinals. And the whole community was
• 44:14
  caught off guard with the whole Ordinals thing.
• 44:16
  Everyone was freaking out. They disliked it.
• 44:19
  They're like, what is this stuff?
• 44:21
  This is what happens when you change Bitcoin.
• 44:24
  And I'm kind of on the ossification camp because like,
• 44:31
  it already serves its purpose when you start kind of like
• 44:35
  Bitcoin is supposed to be money, It's not supposed to be anything
• 44:38
  else. It does the money thing really,
• 44:40
  really well. If you start kind of changing
• 44:43
  things a little bit could have unintended consequences that
• 44:49
  might break Bitcoin or might, might, might, might make Bitcoin
• 44:53
  worse than what it is today, right.
• 44:55
  So, you know, with the core V the, the, the new version of
• 45:00
  Bitcoin core 30 or whatever. Again, I'm not technical enough
• 45:05
  to argue, you know, for it or against it, but I do have common
• 45:10
  sense and my common sense and my intuition is telling me a, a
• 45:15
  very kind of simple thing. I Bitcoin is money, Bitcoin's a
• 45:19
  savings account like Bitcoin is savings.
• 45:23
  That's what Bitcoin should be for.
• 45:26
  Like Bitcoin I don't think should be used for anything
• 45:29
  else. In my opinion, I think the only
• 45:32
  time where Bitcoin has to essentially be upgraded, there
• 45:39
  has to be some type of, of, of, of fork is to make it quantum
• 45:45
  resistant. But we're not even close to
• 45:47
  that. Like that's many, many years
• 45:49
  away. That's the only time where I'm
• 45:53
  like, OK, this is a clear and present danger to Bitcoin, to
• 46:00
  Bitcoin's algorithm. And OK, we got a, you know, we
• 46:04
  got to do something about it. And even Satoshi mentioned it by
• 46:07
  the by the way. So that's the only occasion
• 46:11
  where I'm kind of on the camp of like, OK, like, you know, there
• 46:16
  needs to be some type of improvement to Bitcoin.
• 46:18
  But other than that, like I'm still running a very old version
• 46:23
  on my node. I have no intention of up of
• 46:26
  updating it. Why should I update it?
• 46:29
  It it serves my purposes, it serves my needs, which is I'm
• 46:34
  using Bitcoin as savings. I'm using Bitcoin as as money
• 46:39
  basically. That's my opinion.
• 46:43
  And I think we should be very, very careful with changing
• 46:48
  Bitcoin because there are unintended consequences to doing
• 46:52
  that. And I think the taproot and the
• 46:55
  ordinals is a very good example of that.
• 46:57
  No one had any idea that the ordinals things was going to
• 46:59
  happen, but as soon as Taproot came in, boom, it started
• 47:03
  happening and then everyone started freaking out.
• 47:05
  And then he was talking about Sailor was talking about how you
• 47:10
  know there's kind of layers to it.
• 47:12
  There's layer there's like there's like Level 3, there's
• 47:14
  level 2 changes and there's level 1 changes.
• 47:17
  Level 1 changes. Level 1 change would imply
• 47:20
  something like changing the total supply.
• 47:24
  But what the argument he was making is that it's a very
• 47:26
  slippery slope, right? Like if you start changing stuff
• 47:31
  like that are not so it's not such a big deal that could lead
• 47:36
  to changing something that is a bigger deal.
• 47:39
  And then that could lead to something that could change
• 47:42
  something that is a a very, very big deal.
• 47:45
  I think we should hold the line and just not change Bitcoin.
• 47:49
  Bitcoin works as is. And that's my opinion.
• 47:53
  Opti, what is your opinion on this?
• 47:54
  Because this is getting so heated on on X people are, you
• 48:00
  know, going back and forth attacking each other.
• 48:03
  I'm not going to name any names. I'm I'm taking a side,
• 48:07
  obviously, which is Bitcoin should only be used as money.
• 48:12
  I think Sailor feels the same way.
• 48:15
  And yeah, what what camp are you on?
• 48:18
  Are you on the ossification camp?
• 48:20
  Are you on the like? Bitcoin should do many more
• 48:24
  things. No, I'm definitely not on
• 48:27
  Bitcoin should do all the things side.
• 48:30
  That's what Ethereum's for. Go have fun with that dookie
• 48:32
  piece of software over there. You know that that's what that
• 48:35
  stuff's for. That's what shitcoins are for.
• 48:36
  I'm definitely on the side of Bitcoin as money, but also
• 48:39
  vacation right now. To me, I, I, I think there can
• 48:43
  be improvements to Bitcoin on a like scaling and stuff like
• 48:47
  that. But that's layered, too.
• 48:49
  I I get that, but still isn't that kind of what the recent
• 48:52
  proposals was like what we saw with Taproot that was for, you
• 48:55
  know, scaling and? Yeah, but look at look at the,
• 48:58
  look at what the unintended consequences.
• 49:00
  Were I mean, I agree, I think the unintended consequences are
• 49:03
  something that should be very research like what we're seeing
• 49:08
  is everyone. I think when Taproot was
• 49:11
  upgraded, we all didn't see the you know, we're all blindsided.
• 49:14
  We didn't know what we didn't know.
• 49:16
  And now in hindsight, I think what should happen or rather
• 49:20
  what is probably happening is the debates that we're seeing
• 49:23
  right now are because of what we went through with the taproot
• 49:26
  upgrade. And so we're seeing people are
• 49:28
  projecting what might happen. Other people say, no, this is
• 49:32
  the reasons for this. And so like I, I don't know, I'm
• 49:35
  a little hesitant on saying ossification, but 'cause I, I
• 49:39
  want to leave the, the, you know, the door open for that.
• 49:42
  There potentially could be some upgrades that are beneficial for
• 49:45
  everyone. And I'm not sure is if we don't
• 49:48
  change anything ever again, will that be as beneficial to Bitcoin
• 49:52
  as we think it will be? So like even in my thinking, I'm
• 49:54
  thinking, you know, adversarial here, but I personally, I'm just
• 49:59
  on the, I'm not upgrading for a while because, you know, I don't
• 50:03
  really know. And so my choice is I'm going to
• 50:06
  just kind of sit on my hands. But I personally don't think
• 50:11
  that some of the rhetoric about this is, you know, the end of
• 50:16
  Bitcoin is, is really warranted. I, I think Bitcoin will survive
• 50:20
  all of this. Like, yes, there's a kind of
• 50:22
  civil war going on. So I'm not as histrionic about
• 50:26
  it. I don't think it's over for
• 50:27
  Bitcoin. And if it it is over for
• 50:29
  Bitcoin, then it was never going to succeed in the 1st place
• 50:32
  basically. So I don't know if I'm really in
• 50:34
  the ossification camp, but I'm also not in let's do all the
• 50:38
  things camp. I'm, I'm just a, you know,
• 50:40
  moderate here. I'm just like, maybe there's
• 50:42
  ways to make this better. Maybe the best move is not to do
• 50:45
  anything. And yeah, that's kind of where I
• 50:48
  stand. I'm just not upgrading my node.
• 50:49
  I don't know. I agree.
• 50:51
  I, I agree, I agree with Opti. Maybe, maybe it is a a bit
• 50:55
  controversial, but this is where we stand here at Simply Bitcoin.
• 51:00
  I do want to cover what the poll is saying 84%.
• 51:05
  Could we pull up the amount of note who's running what?
• 51:08
  I think it's on Clark. I think it's on Clark Moody.
• 51:11
  I think not. Is let me see.
• 51:14
  Ahead, right now, I'm looking. I'm looking for you guys.
• 51:16
  I'm looking, I'm looking. Here we go.
• 51:20
  All right. Here we go.
• 51:21
  Let me pull this up for you. Wait.
• 51:23
  Where'd it go? I just had it.
• 51:25
  Where'd it go? Oh, here we go.
• 51:32
  So yeah, Knotts is #3. Well, I think what everyone's
• 51:35
  saying, if you combine the two versions of Knotts, then it's
• 51:40
  basically at 20%. But then with that same math, if
• 51:44
  you combine all of the core, well, the core nodes, it's like
• 51:48
  80% core, so. Yeah.
• 51:53
  So anyways, let's see what the chat thinks.
• 51:57
  The chat right now is at 83% knots and 17% core.
• 52:05
  So yeah, I mean that's that's where it's at.
• 52:09
  I'm going to end that poll right there anyways.
• 52:12
  No, no, I am not a programmer guys.
• 52:15
  Just a clear up. Clear up any confusion.
• 52:18
  I am not a coder. We are content creators anyways,
• 52:21
  guys, we're going to be right back in just a bit.
• 52:22
  We're going to hit the new segment.
• 52:24
  We have a lot of update for you guys, so you're going to want to
• 52:26
  stay tuned. We'll be right back.
• 52:29
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  Go to sat123.com/simply today and use promo code simply to get
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  15% off anything on the store. All right, everybody, we are
• 54:21
  back, ladies and gentlemen, and we have an update for you guys.
• 54:25
  You guys know the deal. We talk a lot about on simply
• 54:29
  Bitcoin, the two alternatives of the future of money, right?
• 54:33
  And of course, you have Bitcoin and you have central bank
• 54:37
  digital currencies. This is 1 of Opti's ex
• 54:40
  girlfriends, Ursula von Derlin. Was this before or after
• 54:46
  Chrissy? After.
• 54:49
  OK, and that's a joke by the way, it's a bad dad joke.
• 54:52
  But anyways, this is the headline for this ex post
• 54:56
  unelected EU head Ursula von Derlen in order quote, in order
• 55:01
  to protect European jobs, we must roll out the digital euro,
• 55:05
  the E US new CBDC. It's not an accident that
• 55:10
  digital ID and CBD CS are being pushed in locks in lockstep
• 55:14
  across the entire western world at exactly the same time.
• 55:18
  That's that's how you know it originates at the Super national
• 55:23
  supranational level from the unelected globalist technocrats
• 55:28
  who pulled the strings of your so-called democratically elected
• 55:32
  leaders. Now I'm going to chime in on
• 55:34
  this and I will say let me see if I can play the clip and see
• 55:38
  what she actually says. We have held strategic dialogues
• 55:42
  with key industries, cars, chemicals, steel,
• 55:46
  pharmaceuticals, defence, agriculture.
• 55:49
  In each sector the message is the same.
• 55:54
  To protect jobs we need to make business in Europe easier.
• 56:04
  A digital euro, for example, we'll make it easier for
• 56:07
  companies and consumers. Alike we have what that's crazy
• 56:14
  dude. Like to protect jobs, we must
• 56:18
  launch ACBDC. Like dude, that's that's wild.
• 56:24
  How about this To protect yourself from inflation, we must
• 56:28
  adopt Bitcoin. To protect yourself from
• 56:31
  inflation. Bitcoin should be, should be the
• 56:35
  standard currency of the world to protect yourself from
• 56:39
  inflation. How about that?
• 56:42
  Yeah, that's crazy, dude. That's some crazy rhetoric.
• 56:46
  They're really doubling down on this.
• 56:47
  I mean, it makes sense. I, I got to pull up.
• 56:50
  I haven't read it in a while. Opti.
• 56:52
  I have not read this in a while. I got to read the sovereign
• 56:56
  individual passage because, you know, it just kind of reminds me
• 57:01
  of of of just this rhetoric and what's happening here.
• 57:06
  So you guys know that I absolutely love this book.
• 57:08
  I saw some people like in the in the comments saying, Nico, I
• 57:11
  read the book for the first time.
• 57:12
  It's fantastic. If you're a bitcoiner, you have
• 57:14
  to read this book. It's, it's, it's, it's a really
• 57:16
  good book. Anyways, so I'm going to read
• 57:19
  some of this. In the new Millennium, cyber
• 57:23
  money controlled by private markets will supersede Fiat
• 57:26
  money issued by governments. It goes on to on to say lacking
• 57:31
  their accustomed scope to to tax and inflate, governments, even
• 57:36
  in traditionally civil countries will turn nasty.
• 57:39
  It goes on to say businesses that offer services that
• 57:42
  facilitate the realization of autonomy by individuals will be
• 57:45
  subject to infiltration, sabotage and disruption.
• 57:48
  Think about Operation Choke .2 Point O ladies and gentlemen.
• 57:52
  Arbitrary forfeiture of property, already commonplace in
• 57:55
  the United States where it occurs 5000 times a week, will
• 57:58
  become even more pervasive. Governments will violate human
• 58:01
  rights and censor the free flow of information.
• 58:03
  Sounds familiar, does it not? Sabotage useful technologies.
• 58:07
  Sounds familiar and worse. Mind you, this book was written
• 58:10
  in the 90s. Prophetic.
• 58:14
  What a prophetic book. But no.
• 58:18
  Oh, and I love this part right here.
• 58:20
  They compare the state to a farmer keeping cows in the field
• 58:24
  to be milked, but that soon the cows will have wings.
• 58:28
  They predict that for the government to collect taxes from
• 58:31
  its citizens in this type of society, we'll have to violate
• 58:34
  human rights. And when we when we talk about
• 58:36
  taxes, we're not talking about income tax.
• 58:38
  We're talking about inflation tax and This is why they want to
• 58:42
  roll out central bank digital currencies because they want to
• 58:46
  keep, they want to retain their ability, their God like power of
• 58:51
  being able to create money for free that everyone else has to
• 58:55
  work for. Now, on the other side of the
• 58:58
  pond, it's not the same story. On the other side of the pond,
• 59:03
  the GOP, the Republican Party here in the United States, is
• 59:06
  going in the exact opposite direction.
• 59:09
  Here is a quote from the article.
• 59:12
  House GOP moves to combine central bank digital currency
• 59:17
  ban with crypto bill House Republicans are gearing up to
• 59:22
  retroactively combine GOP legislation that would ban the
• 59:27
  Federal Reserve from creating a central bank digital currency
• 59:30
  with a sweeping bipartisan cryptocurrency market structure
• 59:34
  bill. After both bills passed the
• 59:36
  chamber separately in July, the House is set to vote Tuesday
• 59:41
  afternoon on a procedural measure that includes a little
• 59:45
  notice provision that would combine the CBDC ban bill with
• 59:49
  the Clarity Act, which would overhaul how crypto tokens are
• 59:53
  regulated. The CBDC measure, led by House
• 59:57
  Majority Whip Tom Emmer, passed the lower chamber largely along.
• 1:00:01
  Along party lines in July, while the sweeping market structure
• 1:00:05
  bill drew support from 78 Democrats at the time the two
• 1:00:10
  measures passed the House Republicans on the financial
• 1:00:13
  services and agricultural committees objected to combining
• 1:00:16
  them on the floor. A push from GOP hardliners to
• 1:00:21
  merge the two bills created a protracted standoff on the
• 1:00:25
  floor. The committee leaders didn't
• 1:00:27
  want to jeopardize bipartisan support for the Clarity Act in
• 1:00:31
  hopes of sending a message about its viability in the Senate.
• 1:00:35
  To appease the hardliners, GOP leaders vowed to include a CBDC
• 1:00:41
  ban in Congress in the Congress annual Must Pass Defense Policy
• 1:00:45
  bill. Though language banning ACBDC
• 1:00:48
  would was included in the House passed National Defense
• 1:00:52
  Authorization Act, few Democrats support the provision, meaning
• 1:00:56
  it is likely to get stripped out of the bill by the Senate.
• 1:00:59
  Bipartisan support is needed to pass the NDAA in the upper
• 1:01:04
  chamber. Anyways it goes.
• 1:01:07
  It continues to say by combining both measures and sending them
• 1:01:11
  to the Senate, the House continues to advance both
• 1:01:14
  priorities. And again, this is referring to
• 1:01:16
  the Clarity Act and the Anti CBDC Act.
• 1:01:20
  Now you guys know the deal. We are heading into the midterms
• 1:01:23
  in January. I mean sorry in November of
• 1:01:26
  2026, ladies and gentlemen, vote for pro Bitcoin anti CBDC
• 1:01:33
  candidates. There are no in betweens.
• 1:01:36
  You want a few future of central bank digital currencies or do
• 1:01:39
  you want a future of freedom, peace, opportunity, prosperity
• 1:01:44
  and freedom, which is a future of Bitcoin.
• 1:01:47
  So quite a little bit of an update there in regards to the
• 1:01:49
  CBD CS, you could see how the United States of America,
• 1:01:53
  specifically one party at least is taking a hard stance on
• 1:01:57
  central bank digital currencies. And you could see on the other
• 1:02:00
  side of the pond, the European Union, led by the unelected
• 1:02:06
  Ursula Vanderlin, is talking about how we must have a central
• 1:02:12
  bank digital currency to protect jobs.
• 1:02:15
  Dude, that is the craziest. I don't want to curse.
• 1:02:18
  That is the craziest shiitake I've ever seen.
• 1:02:21
  Bro. That is wild that she's making
• 1:02:24
  those claims, dude. Like, give us more power.
• 1:02:27
  That's how we're going to protect jobs.
• 1:02:29
  Give us more, give us more power, give us more.
• 1:02:32
  Give us the ability to inflate even more.
• 1:02:35
  Give us the ability to control your money.
• 1:02:37
  And that's the only way we're going to be able to save jobs.
• 1:02:41
  And what's crazy too, is she was doing that to a clapping
• 1:02:45
  audience. They were losing their minds.
• 1:02:46
  They're like, Oh my, my God, she's so right.
• 1:02:49
  She's so true. We have to do this for the
• 1:02:52
  protection of the European Union and the jobs there.
• 1:02:55
  And look, they play like these nice little like videos in the
• 1:02:58
  back, you know, of like middle class, you know, like workers,
• 1:03:02
  like collar workers, like, you know, walking up stairs and
• 1:03:05
  stuff. Like trying to remind you like
• 1:03:08
  if you want to save their jobs. B roll footage too.
• 1:03:13
  If you want to save their jobs. We must have a central bank
• 1:03:16
  digital currency. I'm not falling for that
• 1:03:19
  propaganda. A central bank digital currency
• 1:03:22
  is dystopian. It's going to give the
• 1:03:24
  government more power, more power over your life, you're
• 1:03:28
  going to have less freedom. And not only that, a central
• 1:03:31
  bank digital currency does not solve inflation.
• 1:03:35
  Money can exist without inflation.
• 1:03:37
  This is what I want you guys to understand.
• 1:03:40
  Money can exist without inflation.
• 1:03:42
  This is what Bitcoin proves you want to live the American dream.
• 1:03:46
  You got to adopt Bitcoin. If you've adopted Bitcoin, you
• 1:03:49
  could live the American dream. You could afford the house you
• 1:03:52
  want. You could afford the apartment
• 1:03:53
  that you want. You could afford it, but you got
• 1:03:56
  to use the right unit of account.
• 1:03:58
  You got to reuse real money that protects your purchasing power.
• 1:04:02
  A central bank digital currency won't protect your purchasing
• 1:04:06
  power. It will not only not protect the
• 1:04:07
  purchasing power, it will literally like you.
• 1:04:11
  You guys remember the Canadian truckers protest how they just
• 1:04:14
  froze everyone's accounts? They at least had to ask banks
• 1:04:17
  to do that. With the CBDC they don't even
• 1:04:20
  have to ask a bank. There will be a bureaucrat that
• 1:04:24
  will have the ability to freeze your money.
• 1:04:26
  Remember all the talk about the 15 minute cities and the social
• 1:04:29
  credit system? Remember they're talking about
• 1:04:31
  digital IDs. What the F does a digital ID
• 1:04:34
  have to do with saving jobs? Opti, I'm asking you.
• 1:04:39
  I don't know bro. I have no idea.
• 1:04:42
  I don't know how the 2 are related.
• 1:04:44
  So anyways, do you want it? Do you want to go the side of
• 1:04:47
  freedom, which is Bitcoin? Or do you want to go down the
• 1:04:50
  slide, the side of collectivism and control?
• 1:04:53
  Because that's what a CBDC is. And this rhetoric of Oh my God,
• 1:04:57
  if we don't have AC, if we don't have a CBDC, you're going to
• 1:05:00
  lose all your jobs. And they're all clapping and
• 1:05:02
  they're playing B roll. We work in media, ladies and
• 1:05:05
  gentlemen. They're playing stock footage of
• 1:05:08
  these workers. Like I'm sorry, I'm just not
• 1:05:11
  buying it. Anyways, my rant is over.
• 1:05:14
  OP, do you want to chime in? Yeah, I find it hilarious, but
• 1:05:19
  it's really more insidious that her main.
• 1:05:24
  Her main tactics here, obviously one like Nico saying fear
• 1:05:28
  tactics here, but the one that will probably get a lot of
• 1:05:32
  people sleepwalking into their own jail is this idea of
• 1:05:35
  convenience. If you heard it, they've been
• 1:05:36
  talking about this for a while when they mentioned CBD CS.
• 1:05:39
  They never talk about inflation at all.
• 1:05:41
  They always say one thing essentially, oh, we need to
• 1:05:45
  upgrade payments like we need to, you know, make this easier
• 1:05:49
  for you guys to use money and this is going to make your life
• 1:05:52
  easier and your jobs better. They're literally trying to lull
• 1:05:55
  the European Union into can I say it into.
• 1:06:02
  Into. Their own cage here using
• 1:06:07
  convenience. And as we know, a lot of people
• 1:06:09
  will fall for the trap of convenience.
• 1:06:11
  And as her own statement said right there is like, hey, you
• 1:06:15
  want your life to be easier, You know, basically do what we say
• 1:06:19
  and you'll have jobs. I don't know.
• 1:06:22
  It sounds kind of threatening. And I do remember a last kind of
• 1:06:26
  test in humanity around convenience, and that didn't end
• 1:06:29
  so well. Personally, it, it, it was great
• 1:06:32
  for me. But convenience is the slow
• 1:06:36
  killer. Like metaphorically, of course,
• 1:06:38
  convenience is where you walk yourself into your own cage.
• 1:06:41
  If you do go for the easy route here, you're just trying to save
• 1:06:45
  your job. And, and it is absolutely
• 1:06:49
  insidious how they're doing. It's they're basically saying,
• 1:06:51
  hey, if you want to keep your job, you basically have to adapt
• 1:06:54
  a digital ID and a CBDC. And it's absolutely nuts.
• 1:06:58
  Like the fact that those clapping seals in the audience
• 1:07:01
  all allegedly think this is a good idea.
• 1:07:05
  They just turn their brains off. There is just no critical
• 1:07:07
  thinking here. They're they're really desperate
• 1:07:09
  and they have no clue what they are doing.
• 1:07:13
  Forgive them. They don't know what are you
• 1:07:15
  doing here? I'm.
• 1:07:16
  Looking at I'm looking at the ones that don't clap 'cause I
• 1:07:22
  don't know if they'll get points taken off like this guy isn't
• 1:07:27
  buying it. Look at this guy.
• 1:07:28
  I want to know this guy. We got to interview this guy.
• 1:07:30
  This guy's a Chad. Chad.
• 1:07:32
  Who's this guy? He's not buying it.
• 1:07:34
  He. One O 3, One O 3.
• 1:07:36
  One O 3 bro, one O 3 ladies and gentlemen, one O 3 knows the
• 1:07:40
  deal Anyways guys, this is going to be a fantastic show.
• 1:07:43
  Opti's got line so. Yeah, we're just going to, we're
• 1:07:46
  just going to go over. It's kind of the macro
• 1:07:47
  landscape. During the Opti's a macro
• 1:07:50
  expert. Anyways, I am going to clap
• 1:07:52
  myself on the back a little. Bit before we get to it, I do
• 1:07:54
  want to give a shout out guys to Mining Disrupt 2025.
• 1:07:58
  This is going to be the largest mining conference of the year.
• 1:08:03
  They have one in in Fort Lauderdale now they're bringing
• 1:08:06
  it back to Texas, or they're the first time in Texas actually.
• 1:08:10
  But #opti is going back to Texas.
• 1:08:14
  Ladies and gentlemen, breaking news, massive news, ultra mega
• 1:08:18
  news. Dallas and Opti are once again
• 1:08:22
  combining. So this is happening November 11
• 1:08:25
  through the 13th. You're not going to want to miss
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  it. Opti is a different person when
• 1:08:29
  he's in Dallas, so you're not going to want to miss Opti and.
• 1:08:32
  Yeah, I wear cowboy boots. Opti wearing cowboy boots.
• 1:08:36
  So you guys are not going to want to miss the biggest mining
• 1:08:39
  conference in the world. Mining Mining Disrupt 2025 in in
• 1:08:45
  Dallas, TX November 11th through the 13th of 2025.
• 1:08:50
  If you scan the QR code or check the link in the video slash
• 1:08:54
  podcast description it will give you a discount to the
• 1:08:58
  conference. Guys, you're not going to want
• 1:09:00
  to miss this. I hope to see you guys in
• 1:09:02
  Dallas, TX November 11th, 11th through the 13th for Mining
• 1:09:07
  Disrupt, the largest Bitcoin mining conference in the world.
• 1:09:12
  If you guys want to get a job in the industry, if you're
• 1:09:13
  interested in the mining industry, go to Mining Disrupt
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  2025 in Dallas, TX November 11th through the 13th.
• 1:09:20
  All right, everybody, we're going to be right back in just a
• 1:09:22
  bit. We're going to hit the culture
• 1:09:23
  segment. We'll see you guys in a in a
• 1:09:25
  second. I want to give a shout out to
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  our partner Hive Digital Technology.
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  IO. Join today where Bitcoin meets
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  freedom. OK, guys, Nika's loving his new
• 1:11:31
  iOS update. He's over here.
• 1:11:32
  So are you. I am.
• 1:11:33
  I am. You brought it up to me first.
• 1:11:35
  It's great. Glass.
• 1:11:36
  It is nice, though it's not working for some of my apps, so
• 1:11:39
  it's not fully glass, iOS Glass. It's nice.
• 1:11:42
  I like it. See it on iOS.
• 1:11:43
  Glass, iOS glass. OK, anyways, get him away from
• 1:11:51
  this. OK, so yesterday the highly
• 1:11:56
  awaited rate cuts finally happened and we covered this a
• 1:11:59
  little bit. Oh, actually we've been covering
• 1:12:01
  it a lot. And we, we kind of broke the
• 1:12:04
  news at the end of the show yesterday.
• 1:12:07
  And I don't know if you guys saw, but basically right when
• 1:12:10
  the show ended, as I was saying, we saw a lot of volatility in
• 1:12:14
  the markets as the markets try to digest what this cut means.
• 1:12:17
  A lot of people were disappointed.
• 1:12:19
  You know, they're like 25 basis points.
• 1:12:21
  I thought we're going 50, maybe 100.
• 1:12:24
  And it seems like the markets, at least when the announcement
• 1:12:29
  was made, there was a lot of volatility in the market.
• 1:12:32
  I don't know if you guys saw the Bitcoin price, but it was just
• 1:12:34
  spiking. It was going crazy.
• 1:12:36
  And we saw kind of some corrections in the S&P 500.
• 1:12:39
  We saw the bond yields kind of drop a little bit.
• 1:12:43
  And then basically today we've seen them all recover and it
• 1:12:48
  really is seeming like we are going into a very bullish
• 1:12:52
  territory. So I will eat a little bit of
• 1:12:54
  krill. I I was a little wrong.
• 1:12:56
  I think there was a day where I was like it could go down to you
• 1:12:59
  know, 100K ish. It didn't, that didn't happen.
• 1:13:01
  We got a little baby correction. But I think all of the markets
• 1:13:04
  at the time, like I said, we saw some very short term volatility,
• 1:13:09
  but this is all setting up I think for a very bullish,
• 1:13:13
  bullish scenario for assets. Obviously we think Bitcoin is
• 1:13:17
  the best asset. And so I want to kind of go over
• 1:13:21
  a bunch of different analysis here on what we actually saw.
• 1:13:24
  So I don't know if you guys watched Jerome Powell's speech
• 1:13:27
  yesterday, a lot of people were saying it was dovish.
• 1:13:30
  They were saying, you know, if they cut higher, it was it was
• 1:13:33
  going to be a lot more hawkish. But if you watch his actual FOMC
• 1:13:37
  speech yesterday, there was some interesting things that were
• 1:13:41
  said. One, as I said earlier, they
• 1:13:43
  basically said they're abandoning the inflation
• 1:13:47
  numbers. Like that's not their priority
• 1:13:49
  right now. Their priority is employment.
• 1:13:51
  And so if that's the case, and it's probably means like what
• 1:13:56
  we've been saying, the money printer is going to get turned
• 1:13:58
  on. They did say, you know, they're
• 1:14:01
  trying to get back to 2% inflation in like 5 years.
• 1:14:04
  So essentially, you know, inflation is going to be running
• 1:14:06
  hot for a little bit. And if this is not their mandate
• 1:14:09
  anymore, they really don't care about inflation right now.
• 1:14:12
  Did you see? Did you see the?
• 1:14:14
  Did you see the? It was James Lavish.
• 1:14:17
  Now, yeah, pull it up because I, I do have some tweets here kind
• 1:14:20
  of like breaking it down, but let's hear James Lavish anyways.
• 1:14:24
  Like what we're seeing is the markets are kind of digesting
• 1:14:27
  this information and there was a lot of uncertainty in the
• 1:14:30
  markets. But I think long term, of
• 1:14:33
  course, as we kind of saw the day, there is a lot of
• 1:14:38
  bearishness in the dollar, dollar strength.
• 1:14:40
  But this is always bullish for Bitcoin.
• 1:14:42
  So let's see, let's pull, pull this up.
• 1:14:46
  Well, what do we got here? What James say?
• 1:14:49
  Good evening. By cutting rates today, the Fed
• 1:14:51
  admitted that they are comfortable.
• 1:14:52
  Yeah, exactly. That's exactly what I'm saying.
• 1:14:55
  That's why I pulled it out. Yeah, dude, I am the macro
• 1:14:59
  expert. I am.
• 1:15:02
  I am macro. I am your new quant.
• 1:15:05
  Yeah. So James Lavish agrees
• 1:15:06
  essentially what they what they admitted.
• 1:15:09
  And and if you got the overall tone of of Jerome Powell's
• 1:15:13
  speech yesterday, he really had no answers for anything.
• 1:15:17
  He was waffling up there. He had no like he couldn't
• 1:15:20
  really answer anything. All he kept saying is like, oh,
• 1:15:23
  we'll see. I don't want to comment on this.
• 1:15:25
  You know, the economy is not that good, but it's not that
• 1:15:29
  bad. And again, it seems like they
• 1:15:32
  are fully abandoning the inflation target of 2%, which is
• 1:15:37
  obviously a bullish case for assets.
• 1:15:41
  And of course, Bitcoin is the best one to be holding in our
• 1:15:44
  opinion. So they're going to be focusing
• 1:15:46
  a lot more unemployment. Nice, nice.
• 1:15:50
  Let's pull it up. So, you know, just looking at a
• 1:15:54
  bunch of the different takes here.
• 1:15:57
  I've I've really like this guy Jim 168.
• 1:16:00
  He's been doing he's old school Bitcoiner been doing really good
• 1:16:04
  analysis lately. He goes.
• 1:16:05
  As markets digest the evolving narrative, the implication
• 1:16:09
  extend beyond traditional equities.
• 1:16:11
  A softer dollar environment paired with expectations of
• 1:16:13
  additional rate cuts tend to create fertile ground for
• 1:16:16
  alternative assets like Bitcoin. Historically, when the Fed leans
• 1:16:20
  dovish and liquidity conditions ease, capital often seek stores
• 1:16:23
  of value outside conventional financial instruments.
• 1:16:26
  And Bitcoin increasingly fits that role in investor profile or
• 1:16:30
  portfolios. So this is all, like I was
• 1:16:33
  saying previously to the rate cut announcement is setting up
• 1:16:37
  perfectly for Bitcoin. Obviously, we're entering Q4,
• 1:16:41
  which we're all extremely bullish on.
• 1:16:43
  And if they are, in fact, based on their policy looking to
• 1:16:48
  weaken the strength of the dollar, cutting interest rates
• 1:16:51
  potentially 2 more times this year.
• 1:16:53
  This is all essentially an indicator for investors out
• 1:16:57
  there that they need to kind of go into equities and assets and
• 1:17:02
  they're going to be taking a little more risk because there
• 1:17:04
  is no returns for them in in treasuries.
• 1:17:08
  We did see that the short term treasuries kind of reacted
• 1:17:11
  better, which means that, you know, there there still is some
• 1:17:16
  faith in the institutions in short term policy.
• 1:17:18
  They still have some faith in faith in the Fed short term.
• 1:17:22
  But long term they they don't seem like investors don't seem
• 1:17:26
  to have that much faith in U.S. debt.
• 1:17:28
  They're short term. They're like, yeah, they can get
• 1:17:31
  in the control long term. No one is investing into U.S.
• 1:17:35
  debt for, you know, 30 years, 1020 years, 30 years down the
• 1:17:39
  line. They're like, that doesn't make
• 1:17:41
  sense to me. And so obviously, if we are
• 1:17:44
  seeing the monetary reordering that we believe is on the
• 1:17:48
  horizon and they've been telegraphing, it's all kind of
• 1:17:51
  setting up perfectly for Bitcoin to take a much larger role in
• 1:17:56
  this, you know, global new monetary reordering.
• 1:18:00
  Frank Corbin did a good tweet or sorry, a good article this
• 1:18:03
  morning and he says Fed rate cuts today may trigger what some
• 1:18:07
  refer to as a melt up, the final parabolic phase of a Bitcoin
• 1:18:10
  bull run that started in late 2022.
• 1:18:13
  So I, I don't really want to read the whole article here, but
• 1:18:17
  there is some interesting stuff in here.
• 1:18:19
  You know, this idea of a melt up is something we've talked about
• 1:18:22
  on the show for a while. Again, they cut rates at a
• 1:18:26
  pretty much a bull run top of S&P 500, which is usually means
• 1:18:31
  a year from now it's going to be even higher.
• 1:18:33
  So assets are going up again. If you are kind of waiting for a
• 1:18:38
  drop right now in Bitcoin, you're probably never going to
• 1:18:41
  get it. We're starting to see a bullish
• 1:18:44
  setup for Bitcoin. And if you're looking at the
• 1:18:46
  price, it's it's starting to feel very bullish to me.
• 1:18:48
  It does feel like Bitcoin is about to explode.
• 1:18:51
  But here you go. You know, there is a, there is
• 1:18:53
  kind of a view that maybe there's some kind of huge
• 1:18:56
  collapse on the horizon, maybe a bubble burst.
• 1:18:59
  I I don't really think that that is the case.
• 1:19:01
  I think we're going to like, As for Jerome Powell said, they're
• 1:19:05
  really not focused on whether they should be taming a bubble.
• 1:19:10
  So if there is a bubble in assets right now, that's not
• 1:19:13
  their priority right now. He's essentially saying, yeah,
• 1:19:15
  we're going to put even more helium into this bubble.
• 1:19:18
  So, hey, the rich are going to get richer.
• 1:19:20
  If you're holding assets, it's going to go up.
• 1:19:22
  This is just kind of how things work out long term.
• 1:19:25
  There is kind of a view that we might be seeing a bare case for
• 1:19:30
  Bitcoin 2026. But here I want to end with
• 1:19:34
  Ansel. There's been a lot of tweets of
• 1:19:36
  people saying the bond market has completely rejected the Fed
• 1:19:39
  rate cuts and Seoul has been doing really good analysis.
• 1:19:42
  Bitcoiners got his own show. He's really diving in, in the
• 1:19:46
  nitty gritty in the macro markets and he goes, this isn't
• 1:19:49
  the bond market rejecting the rate cut.
• 1:19:52
  What's happening? The market is giving the Fed the
• 1:19:53
  benefit of the doubt. Again, short term rates and
• 1:19:56
  yields seem to be a little favorable.
• 1:19:59
  So people are giving him the benefit of the doubt short.
• 1:20:01
  But long term, that faith is not there.
• 1:20:04
  Cutting rates is supposed to be accommodative and have a
• 1:20:07
  stimulus effect that will raise growth and inflation
• 1:20:10
  expectations. Again.
• 1:20:11
  They seem to be dropping that 2% inflation rate.
• 1:20:14
  They're seemingly targeting like 2.83% by 2028 or something like
• 1:20:21
  that. So inflation's going to run hot.
• 1:20:23
  Long bonds represent growth and inflation expectations, and rate
• 1:20:26
  cuts initially lead to marginally higher long and
• 1:20:29
  yield. But that doesn't last long
• 1:20:31
  because the underlying weakness that caused the Fed to lower
• 1:20:33
  rates in the 1st place sinks back in.
• 1:20:35
  Look at 20/24/2019. Even cuts in 2007 and 8.
• 1:20:39
  Every cut was met with at least a bounce in the 10 year.
• 1:20:43
  So it still seems. And if you're listening to what
• 1:20:47
  our boy here, Jerome Powell was saying, it doesn't even seem
• 1:20:51
  like Jerome Powell has faith in their decisions.
• 1:20:54
  There's still a lot of uncertainty.
• 1:20:56
  And This is why I think we saw so much volatility and people
• 1:21:00
  are. You talking about Smealti?
• 1:21:01
  Yeah, he doesn't have a European accent.
• 1:21:06
  Are you talking about Smealti? Yeah.
• 1:21:08
  So anyways, yeah, I would agree with this, Rafi, Frank Horva
• 1:21:13
  said the the, you know, final phase if what we saw does come
• 1:21:22
  true again, they're not targeting inflation anymore.
• 1:21:24
  They're just worried about employment.
• 1:21:27
  It looks like we are probably going to continue these asset
• 1:21:32
  bubbles. So you do want to position
• 1:21:34
  yourself, I personally would say long on most of these assets.
• 1:21:38
  I don't think now is the time to be a doomer, Fiat doomer like
• 1:21:42
  it's over right now as we're seeing in the assets.
• 1:21:45
  They responded really well today.
• 1:21:48
  So I think the acid bubbles are going to continue.
• 1:21:50
  I think it's going to run hotter than anyone that can't even
• 1:21:53
  imagine. And again, the muddy printer is
• 1:21:56
  going to get turned on. We all know this is coming.
• 1:22:00
  So it's it's pretty bullish, not going to lie, pretty bullish.
• 1:22:05
  Feeling bullish feeling. Bullish all around Feeling.
• 1:22:07
  Bush But I I do got to say though, that that James lavish
• 1:22:11
  post, I think was right on the money.
• 1:22:14
  Basically them admitting, hey, you know, we're not going to be
• 1:22:18
  able to, this is we're not going to be able to, you know, they're
• 1:22:23
  basically admitting get used to 3% inflation.
• 1:22:26
  That's pretty much what they said, 100% get used to 3%
• 1:22:29
  inflation. And if you look at the the
• 1:22:32
  Federal Reserve dot board thing, the Federal Reserve Board of
• 1:22:38
  Governors, it was all over the place.
• 1:22:40
  They, none of them found have found consensus on what to do
• 1:22:44
  here, which just adds to the confusion for everyone.
• 1:22:46
  Like they can't even agree on what's the best thing for, for
• 1:22:50
  the economy or for the dollar, which is why we're bitcoiners in
• 1:22:54
  the 1st place. Like, yes, I've been kind of
• 1:22:56
  mentioning this idea that we probably should be paying
• 1:23:00
  attention to what's going on in macro markets, whether it is the
• 1:23:03
  Fed or not because we are maturing, but it doesn't have
• 1:23:07
  all the effect on Bitcoin that like traditional asset markets
• 1:23:13
  do. So I think Bitcoin will continue
• 1:23:15
  to do its own thing. But as you can see in the
• 1:23:18
  markets, there was a lot of confusion, even there was
• 1:23:20
  confusion within the Fed board governors.
• 1:23:22
  But the biggest thing we did here was exactly what James
• 1:23:24
  Lobby said they are. They're literally throwing their
• 1:23:28
  targets away for inflation. And we all know what inflation
• 1:23:31
  means, more money creation, more liquidity, which means assets
• 1:23:35
  are going to go higher. So I would be positioning myself
• 1:23:38
  long right now on any asset of obviously it I think it should
• 1:23:42
  be heavy Bitcoin, but we'll see what happens next month.
• 1:23:46
  If they cut again. They will, They will.
• 1:23:48
  It's I know it's it's confirmed they're gonna cut at least.
• 1:23:52
  Well, they're saying at least two more rate cuts, but I think
• 1:23:55
  it's confirmed they're for sure cutting next month.
• 1:23:57
  So opti is basically saying number go up.
• 1:24:00
  All lot, yeah, I'm basically saying number go.
• 1:24:01
  Up anyways guys, if you guys enjoyed today's show for
• 1:24:04
  September 18th 2025, make sure to smash that like button
• 1:24:09
  consider subscribing to simply Bitcoin.
• 1:24:11
  We love you all, we appreciate you.
• 1:24:13
  I'm your host Nicos, my legit Co host Optimus Fields, who's now a
• 1:24:16
  macro quant. I don't know about.
• 1:24:20
  That yeah, yeah. Look.
• 1:24:21
  Bro, even Sophie's laughing about that.
• 1:24:23
  I know. 'Cause it's It's funny that
• 1:24:25
  you're a macro quant, but it's still the truth.
• 1:24:27
  Hey, I know some things, OK? Anyways.
• 1:24:31
  My IQ just rose from 42 to 43. You guys enjoyed the show, you
• 1:24:37
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• 1:24:39
  see you tomorrow for a brand new episode of simply Bitcoin live
• 1:24:42
  Take care, everybody. Today's episode was brought to
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• 1:24:49
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