Latest / Simply Bitcoin / BREAKING: Jamie Dimon Becomes BULLISH on Bitcoin | EP 1034

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BREAKING: Jamie Dimon Becomes BULLISH on Bitcoin | EP 1034 · Simply Bitcoin

• 0:02
  It's. All going to zero against
• 0:05
  Bitcoin. It's going on forever.
• 0:15
  You're against Bitcoin. You're against freedom.
• 0:24
  Might be elected again. Hi.
• 0:25
  I think it's very likely. And if it happens, it is likely
• 0:29
  to be the kind of like the the death blow to what remains of
• 0:34
  the global order. And he says it and he says it
• 0:37
  openly. Now, again, it should be clear
• 0:39
  that many of these politicians, they present a false dichotomy,
• 0:48
  a false binary vision of the world, as if you have to choose
• 0:52
  between patriotism and globalism, between being loyal
• 0:57
  to your nation and being loyal to some kind of, I don't know,
• 1:03
  global government or whatever. Yo welcome to submit Bitcoin
• 1:06
  live, the most watched daily Bitcoin live show on YouTube.
• 1:09
  Rumble and X will be your guide through the separation of money
• 1:12
  estate. Once again shout out to yuval
• 1:16
  harari. I thought there was no global
• 1:18
  order and now he's saying the quiet part out loud.
• 1:22
  Maybe This is why they tried to assassinate him a couple days
• 1:28
  ago. Maybe this is also the same
• 1:30
  Yuval Harari that said that we should trust central banking and
• 1:35
  that the reason that we that he doesn't like Bitcoin is that
• 1:39
  it's a currency of mistrust. And that, you know, the last 100
• 1:43
  years have shown that governments controlling money
• 1:46
  has actually been a really good thing.
• 1:48
  So he's kind of like the inverse Kramer for the the demons, the
• 1:55
  monetary demons. He's like the inverse, the
• 1:58
  inverse Harari that maybe I just coined that.
• 2:02
  But yeah, that that's crazy 'cause, you know, they were,
• 2:04
  that's something that a couple of years ago was completely
• 2:07
  outside the Overton window and you would have said, what global
• 2:09
  order? What are you talking about?
• 2:11
  Right. So that's pretty, that's pretty.
• 2:13
  That's pretty insane. So, yeah, pretty crazy.
• 2:17
  Wanted to play that clip for you guys, 'cause when I saw it for
• 2:19
  the first time, I did kind of like a double take.
• 2:21
  I was like, wait, he said the quiet part out loud.
• 2:23
  This is crazy. Anyways, in other news, Jamie
• 2:26
  Dimon, I said it on yesterday's show, I was like, look, there's
• 2:30
  there's rumblings, there's rumors that Jamie Dimon might be
• 2:34
  tapped to be the Treasury Secretary during the Trump
• 2:37
  administration. And I said, I don't like that
• 2:40
  this guy doesn't like Bitcoin. Literally the day after, he's
• 2:44
  like, there's a Forbes art. There's a, there's an, an
• 2:47
  article coming out of, of let me see the specific publication,
• 2:52
  Forbes literally saying that he changed his tune on Bitcoin,
• 2:56
  right? And that kind of reminds me of a
• 2:59
  very, very famous quote from Max Keiser, which is you don't
• 3:03
  change Bitcoin. Bitcoin changes you, right?
• 3:06
  And that's applied to many, many people.
• 3:09
  Of course, Michael Saylor, Michael Saylor was, he was
• 3:13
  against Bitcoin initially. There's, there's a very famous
• 3:16
  tweet. He didn't delete it, by the way,
• 3:17
  to give him credit of him basically saying like this
• 3:20
  Bitcoin thing's going to go away.
• 3:21
  Larry Fink, he had the famous line.
• 3:24
  Bitcoin is an index of money laundering.
• 3:27
  Jamie Dimon has been a detractor.
• 3:30
  He's he's hated Bitcoin. He's you know it.
• 3:32
  Every time he gets asked in a press conference, it's like he's
• 3:35
  going to blow a gasket. And of course, Trump was not a
• 3:38
  fan of Bitcoin either, right? So what I think is happening,
• 3:42
  and this is something that I think a lot of people have to
• 3:44
  wrap their heads around, right? Because a lot of people, I
• 3:46
  always hear this time and time and time again, which is OK,
• 3:51
  Nico, these are politicians. These are bankers.
• 3:55
  This is Larry Fink. You shouldn't trust them.
• 3:57
  Like, no shit, you don't have to trust them.
• 4:01
  Trust their incentives, right? Like, do you think that Bitcoin
• 4:06
  miners are just mining this out of the goodness of their heart?
• 4:10
  Do you think that people that run nodes are just like, OK, I'm
• 4:13
  going to run a node to protect the Bitcoin network?
• 4:16
  Maybe in the very, very early days, like that's what Sesoshi
• 4:20
  did. But now on a mass scale, do you
• 4:22
  think that's happening? Do you think you have massive
• 4:24
  publicly traded Bitcoin mining companies because they're just
• 4:28
  mining Bitcoin to protect the network?
• 4:31
  No, they're doing it because they want a profit, right?
• 4:36
  Bitcoin is an incentive structure system.
• 4:40
  It's an it's an aligned incentive structure system.
• 4:42
  So it's very difficult for us to come from the Fiat world, which
• 4:48
  is a misaligned incentive structure system where only an
• 4:51
  elite few benefit at the cost of everyone else to an aligned
• 4:56
  incentive structure system where everybody wins.
• 5:00
  That's very foreign to people. And I think it's a very
• 5:03
  difficult pill to swallow. And I'll give you a really good
• 5:06
  example of this. When the China mining ban
• 5:09
  happened and the hash rate dropped 50%, taking the price
• 5:12
  down with it, I believe that's one of the reasons we then hit
• 5:14
  100K last cycle. By the way, the hash rate
• 5:19
  recovered within six months and the price without any central
• 5:24
  party or central authority telling the miners to plug back
• 5:28
  in. It was the Bitcoin incentive
• 5:30
  structure. If there's less miners, that
• 5:33
  means that there's more rewards for the miners that are
• 5:35
  currently on the network, meaning it's more profitable.
• 5:38
  So it, it, it created an, it created a situation where a
• 5:40
  bunch of entrepreneurs were like, holy cow, we have to plug
• 5:43
  in our miners because we're losing money.
• 5:45
  This is a great opportunity for us.
• 5:48
  This is the same, apply that same logic to politicians.
• 5:52
  Politician. Bitcoin doesn't need
• 5:54
  politicians. We've got into a point where our
• 5:58
  movement is so influential, so powerful, that politicians need
• 6:02
  Bitcoin to get elected, right? And apply this to Jamie Dimon,
• 6:09
  Trump probably told, I'm telling you this conversation happened
• 6:12
  because the RNC and Trump have have taken a very pro Bitcoin
• 6:16
  stance. And I bet you this conversation
• 6:19
  happened behind closed doors. Jamie, I understand that you
• 6:22
  don't like Bitcoin, but if you want to become Treasury
• 6:25
  Secretary, you have to be pro Bitcoin because this is part of
• 6:29
  our party platform now. Jamie Dimon weighed his options
• 6:33
  and he said, yeah, I kind of want to be Treasury Secretary.
• 6:36
  Sure, yeah, no problem. I'll be pro Bitcoin.
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  This is the incentives. Like this is the reality.
• 6:42
  This is human nature, right? To, to, to think that this is
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  some type of, you know, idealistic thing and you know,
• 6:50
  everyone's doing this for ideals and, you know, we're all coming
• 6:53
  together. Kumbaya.
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  That's naive. That's not how Bitcoin works.
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  Bitcoin works because it's an aligned incentive structure
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  model. The node, the node runners run
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  the nodes because they want their own copy of the
• 7:05
  blockchain. They don't want to trust someone
• 7:06
  else's. And of course, they want to make
• 7:09
  the network more secure because they hold bags.
• 7:11
  The Bitcoin miners, they're mining Bitcoin because they want
• 7:15
  to make money, right? It gives them an opportunity to
• 7:18
  get cheaper Bitcoin lower than spot price, right?
• 7:22
  So if you mine Bitcoin, you could probably mine it for like
• 7:24
  40. The cost of mining one Bitcoin
• 7:26
  probably be like 45 K versus buying its spot 63 K, right?
• 7:30
  And of course, Bitcoin evangelist Bitcoin podcasters,
• 7:33
  why are they talking about Bitcoin all day?
• 7:35
  It's probably because they own Bitcoin.
• 7:37
  They believe in Bitcoin, right? So it's like all everyone
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  pursuing their own greed and their own incentives actually
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  makes the network stronger. That's the beauty of Bitcoin,
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  right? That applies to politicians,
• 7:51
  that applies to people like Jamie Dimon, that applies to
• 7:54
  people like Larry Fink. You don't have to trust them,
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  trust their incentives. I would rather and and and this
• 8:00
  is, and this is something that comes core to Bitcoin and its
• 8:03
  ethos, right, which is don't trust verify like you don't.
• 8:07
  You don't have to trust these people.
• 8:09
  Like you shouldn't trust these people.
• 8:11
  Just trust their bags, right? Like the fact that the vice
• 8:14
  president, JDJD Vance, like the Republican nominee for, for vice
• 8:18
  president, he owns $250,000 worth of Bitcoin.
• 8:22
  I don't have to trust the man. I, I, I trust his bags, right?
• 8:26
  Do you think he's going to vote against his bags?
• 8:28
  It's as simple as that. So I think that's a pill that a
• 8:31
  lot of Bitcoiners haven't swallowed yet.
• 8:33
  They haven't come to terms with because I think, you know, we've
• 8:37
  been living through this very kind of idealistic phase in, in
• 8:40
  bitcoins history, which is good. You know, those are the hardcore
• 8:43
  holders. Those that's the line, that's
• 8:46
  the the triarii, right, That's the that's the line of of last
• 8:49
  offence. Those are the people that you
• 8:50
  want to fall back to. Sailor calls them the the cyber
• 8:54
  Hornets, right? The hodlers of last resort,
• 8:57
  without a doubt, like Jamie Dimon is not a hodler of last
• 9:00
  resort. Neither is Donald Trump, right?
• 9:02
  But now Bitcoin is getting into the political discussion and we
• 9:08
  have to be realist, like we have to be real, right?
• 9:11
  Anyways, so I didn't want to talk about that.
• 9:13
  Also, another person to bend the knee as well is Mark Cuban, and
• 9:17
  he actually came out with a pretty long post on Twitter kind
• 9:21
  of explaining, you know, why Silicon Valley has changed their
• 9:26
  support, cause Silicon Valley tends to support the Democrats
• 9:30
  and why they've changed tune towards supporting Trump.
• 9:33
  And of course, you know what the reason is?
• 9:35
  Trump is probit Bitcoin. So it's just very interesting
• 9:39
  how all these things are coming to play.
• 9:41
  But again, all of this isn't happening out of coincidence.
• 9:45
  All of this is happening because of the game theory, because of
• 9:49
  Bitcoins incentives. And that is something that you
• 9:51
  have to understand. Because once you understand
• 9:54
  that, then you know we already won the game.
• 9:57
  Because the other side, the party of green, the party of
• 10:00
  Fiat, the party of CBD, CS, what they have going for them is
• 10:05
  coercion. They have to coerce people into
• 10:08
  using their system. Never in human history has that
• 10:13
  worked. Think about the war on drugs.
• 10:15
  Think about East Berlin, W Berlin.
• 10:17
  Think about Cuba and Miami. Well, what happens, right?
• 10:21
  Like we're gonna build a wall. There's an ocean between you and
• 10:25
  freedom. There's a wall between you and
• 10:27
  freedom. Yeah.
• 10:29
  We're gonna coerce you into into this collectivist system because
• 10:33
  we want to. What happens?
• 10:36
  People flee. They're like, I'm gonna, I'm
• 10:38
  willing to risk my life because I see more opportunity there.
• 10:41
  There's an incentive there, right, so I'm bullish on
• 10:45
  incentives. That's why bitcoin's going to
• 10:47
  win. That's why the game theory is
• 10:49
  playing out the way it is, and that's why we that's all right.
• 10:52
  That's why I already know we won.
• 10:53
  We're just witnessing it throughout history, and of
• 10:56
  course, This is why we're here. We'll be your guide through the
• 10:59
  separation of money and state. Anyway, it's going to be a great
• 11:01
  show. I'm a legendary Co host
• 11:03
  listening to you guys in the comments and a lot of you guys.
• 11:05
  We did a poll yesterday Opto. We should release another poll
• 11:08
  today as well while we're talking.
• 11:11
  What's the poll? Do you trust Jamie?
• 11:16
  Oh man. But yeah, we should release
• 11:18
  another poll today so we could talk about it with the audience.
• 11:21
  But like the poll that we released yesterday, I got to say
• 11:26
  I was quite disappointed, ladies and gentlemen.
• 11:28
  But I I did see a lot of people checking out the Start Nine
• 11:30
  website. By the way, Start Nine best note
• 11:33
  in the business. It's the one I run run.
• 11:35
  That's the one that Opti runs. You can use promo code simply
• 11:37
  Bitcoin. You get 9% off.
• 11:39
  But we asked the audience and it was like a, it was like 500 or
• 11:43
  600 people that voted in that poll and 72% of you guys voted
• 11:48
  that you did not run a node. So it's.
• 11:51
  Hovering. Node No, no, no, no.
• 11:53
  That is not good. No bueno.
• 11:55
  No bueno. Look, I get it.
• 11:56
  Five years ago, it's pretty difficult.
• 11:58
  You know, you didn't have all the like, the like, all these
• 12:01
  awesome operating systems and people.
• 12:03
  Were sweet, I get it. Yeah, like literally you could
• 12:05
  literally just buy a node. It's completely pre made.
• 12:08
  You don't have to build it yourself.
• 12:09
  It's easy to use, like you have no excuse.
• 12:13
  If you own Bitcoin and you don't run a node when you're using a
• 12:18
  wallet, you're trusting someone else's node and you're doxing
• 12:21
  your balance in the process, right?
• 12:24
  So only by using your own node and connecting it to your
• 12:27
  Bitcoin wallet, that's the only way that you can actually have
• 12:31
  privacy, right? So that's something to keep in
• 12:33
  mind. And and 72% of you guys watching
• 12:36
  right now are probably like Pikachu face like that's crazy.
• 12:39
  But I know I get it. It's another level.
• 12:41
  It sounds complicated and people people are probably like Nico
• 12:45
  node. What does that mean?
• 12:47
  It dude it it's just a computer that's running Bitcoin that's
• 12:50
  just running the Bitcoin software.
• 12:51
  That's all it is. It's just a computer that's
• 12:53
  running the Bitcoin software. The the node is just a very
• 12:56
  fancy term for it. So Opti is going to do kind of a
• 13:00
  live demonstration of the Start Nine OS and I don't know what.
• 13:03
  Else to cover we'll cover we'll cover like what why what a note
• 13:06
  is why you need a note. I'll even go to thebitcoin.org
• 13:09
  website so that you guys can you know, maybe you want to go old
• 13:12
  school and get yourself just download Bitcoin core on a
• 13:14
  computer, but I will go over start nine.
• 13:17
  I have mine hooked up here so you guys can see the interface
• 13:20
  and what it looks like and some cool things going on there.
• 13:23
  But Nico, before we before we move on, I do want to
• 13:26
  acknowledge the fact that now finally, the meme of only
• 13:30
  criminals like Bitcoin is true, because now we have Jamie Dimon
• 13:35
  1 aiding on this and he's a bitcoiner now.
• 13:37
  Well, at least seemingly changing real.
• 13:39
  Real quick, Octi, what's your take on Harari bro?
• 13:42
  Oh. Man dude I I I dislike.
• 13:45
  Him gaslight us for years basically saying that there was
• 13:49
  no global order and he's basically saying like this is a
• 13:52
  threat to the global order. He is by far the worst.
• 13:55
  Like not only only is he anti human, what's all the things he
• 13:58
  said before, like humans are now with technology, humans are
• 14:01
  useless and useless eaters. And like, oh, we're going to
• 14:05
  we're going to basically like plug in humans to computers and
• 14:08
  the, you know, AI is going to take over the world.
• 14:10
  And like, we don't need all these useless eaters.
• 14:12
  We got to basically pump them up with drugs and pornography so
• 14:16
  that they can, you know, like be be what's the from 19?
• 14:20
  Wait, I forget which one, you know, so that they can have
• 14:22
  their soma, so that they don't care about what's going on and
• 14:24
  we can control everything. And you know, the global orders
• 14:27
  got the like, I absolutely dislike him and you know, I, I,
• 14:31
  I won't use the H word because my mother taught me that's a
• 14:33
  strong word. But he's on he's close to that
• 14:36
  list of like this guy is disgusting.
• 14:38
  Like he is so anti human. It hurts.
• 14:40
  And anytime he talks, I'm just like, I just get the IG.
• 14:43
  I I don't like him at all. Yeah man, it's but I'm glad
• 14:46
  they're saying the quiet part out loud.
• 14:48
  Also another news too. It seems like a a company was
• 14:52
  shorting Donald Trump's media company and shorting Rumble a
• 14:58
  couple days before the assassination.
• 15:00
  I mean like the slope roof. This is lots of interesting
• 15:05
  things anyways, but we're not going to get into that.
• 15:07
  Yeah, I was going to say, are we going to get into it because
• 15:09
  there's. Some fishy, I'm just saying.
• 15:11
  Like. God damn bro they're saying
• 15:13
  global order like. There's some fish going on that
• 15:15
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  At the time of recording, the Bitcoin price is 63,730 SATS per
• 18:08
  dollar, 1569 block height 852,764 blocks to having 197,236
• 18:20
  having estimate March 28th 2028 Total lightning network capacity
• 18:25
  5082 BTC capacity value 324 million Realized monetary
• 18:32
  inflation 1.51%, market capitalization 1.26 trillion
• 18:38
  Bitcoin versus gold market cap 7.48%.
• 18:42
  In the grand scheme of things, we're just getting started.
• 18:45
  I told you guys in the beginning of the episode that two very
• 18:48
  notable figures have bent the knee towards Bitcoin.
• 18:52
  I haven't been a fan of Mark Cuban and his takes as of late.
• 18:55
  I think he's a little bit disconnected from reality.
• 18:57
  But anyways, here's here's Dylan Leclair, his billionaire Mark
• 19:03
  Cuban, formerly a crypto pluralist who claimed Bitcoin to
• 19:07
  have no utility, who recently met with Biden administration
• 19:10
  officials and senators for a crypto policy roundtable, is now
• 19:14
  bull posting Bitcoin maximalist rhetoric referencing
• 19:17
  geopolitical game theory, right? This is I said this in the
• 19:21
  beginning, guys, I said incentives and game theory.
• 19:25
  This is why Bitcoin is inevitable.
• 19:27
  The game theory and the incentives.
• 19:28
  This is why we were able to predict so many of the things
• 19:31
  that we've been able to predict over the last couple of years.
• 19:36
  If you guys have been subscribers to simply Bitcoin
• 19:38
  like like I think Alex Jones's branding is like tomorrow's news
• 19:42
  today. Alex Jones, I think he has this
• 19:44
  prophetic way of seeing things. We, we don't have those
• 19:48
  prophetic ways of things that seem things, I guess not, but
• 19:52
  we're just using Bitcoin's game theory.
• 19:54
  It's as simple as that. Like once you understand game
• 19:56
  theory, you, you understand that Bitcoin's going to win.
• 19:59
  Why? Because it has better
• 20:00
  incentives. It's, it's really as simple as
• 20:02
  that. And then you understand that
• 20:04
  it's inevitable that public companies are going to put this
• 20:06
  on their balance sheet. It's inevitable that nation
• 20:09
  states are going to mine it. It's inevitable that nation
• 20:11
  states are, are, are, are, are, are going to potentially make it
• 20:13
  legal tender. We were calling it before El
• 20:15
  Salvador. It happened a lot faster than I
• 20:18
  thought. Just like the whole it going
• 20:21
  into mainstream politics in the United States, I knew it was
• 20:24
  going to happen. I was predicting like 2028.
• 20:26
  It happened a lot sooner. So it seems like all of this is
• 20:30
  happening a lot faster than I anticipated.
• 20:33
  But the reason that this is so obvious, and I think the reason
• 20:36
  that a lot of Bitcoiners knew this was going to happen is
• 20:39
  because of the game theory and the incentives.
• 20:41
  Anyways, I can't emphasize that enough.
• 20:44
  So here's Mark Cuban. He goes on to say part one,
• 20:48
  here's a contrary opinion on the emergence of Silicon Valley
• 20:52
  support for for former President Trump, which like all my
• 20:55
  opinions on here, probably won't be popular.
• 20:58
  It's a Bitcoin play. You understand how powerful that
• 21:01
  is. Silicon Valley has always
• 21:04
  supported the Democrats. What did the Democrats do?
• 21:08
  Right? And I would even say that
• 21:10
  Silicon Valley, like ideologically, like they're more
• 21:13
  on the camp of the Democrats than they are with than the
• 21:15
  Republicans. But what did the Democrats do in
• 21:18
  regards it's not only just Bitcoin, like let's be real,
• 21:22
  against the entire quote UN quote crypto industry, of which
• 21:25
  Bitcoin is the biggest part, obviously, What did they do?
• 21:30
  They just completely went against it.
• 21:32
  They were hostile, they, they persecuted the industry.
• 21:36
  They locked, you know, developers in jail, you know,
• 21:40
  they, they, they, they were warning about proposing these,
• 21:43
  these mining taxes. They made it political.
• 21:48
  They made it political. They created this situation
• 21:52
  themselves. And Silicon Valley, of course,
• 21:56
  they are holding huge bags, right?
• 21:59
  So what they're saying like you're attacking my bags.
• 22:01
  I'm going to support the political party that's
• 22:04
  supporting my bags. And now connect this with what I
• 22:06
  was saying in the opening monologue.
• 22:08
  This is the game theory, ladies and gentlemen, you don't change
• 22:11
  Bitcoin. Bitcoin changes you right right
• 22:13
  here, right? Silicon Valley doesn't change
• 22:16
  Bitcoin. Bitcoin changed Silicon Valley,
• 22:19
  even if it means voting for some, some voting the opposing
• 22:22
  party, voting for the opposing party that typically doesn't
• 22:24
  align with them on an on an ideological on an ideological
• 22:28
  level, right. Anyways, Mark Cuban goes on to
• 22:31
  say not because the former president is a far stronger
• 22:34
  proponent of crypto. That's nice, but doesn't really
• 22:37
  impact the price of crypto. It makes it easier to operate a
• 22:41
  crypto business because of the inevitable and required changes
• 22:44
  at the SEC. What will drive the price of BTC
• 22:48
  is lower tax rates and tariffs, which if history is any guide,
• 22:52
  will be inflationary compliant. Combine that with global
• 22:55
  uncertainty as to the geopolitical role of the USA,
• 22:59
  and again, I can't emphasize this enough.
• 23:03
  Why is this? Why is it uncertain?
• 23:05
  I can tell you why they politicized and weaponized the
• 23:09
  money with US sanction policy. If you're Russia or if you're
• 23:15
  China and you're using dollars to facilitate international
• 23:22
  trade and all of a sudden you basically have a metaphorical
• 23:26
  head, I'm sorry, a metaphorical gun to your head by the Treasury
• 23:30
  Department, you know, in the form of sanctions.
• 23:34
  Are you not incentivized to seek an alternative?
• 23:37
  They created this very problem. Money should not be politicized.
• 23:42
  Bureaucrats in Washington, DC thought they knew better.
• 23:46
  They did it obviously anyways. And the impact of the US dollar
• 23:51
  is a reserve currency and you can't align the stars any better
• 23:55
  for ABTC price acceleration. And I another thing I want to
• 23:59
  say too, like, look, another reason as to why countries are
• 24:04
  dropping the dollar as reserve currency. the US government
• 24:09
  continues to spend like crazy. Like they don't care.
• 24:14
  They, they continue to spend more money, they they collect in
• 24:16
  tax revenue. And the reason that inflation
• 24:19
  isn't like Argentina is because every country on planet Earth
• 24:24
  holds dollars or uses dollars to trade.
• 24:27
  But they're looking at the US and they're saying, why should
• 24:30
  you have that privilege at our expense, right?
• 24:34
  Because inflation it, it gets exported, right?
• 24:38
  It's not just something that affects people here in the US.
• 24:41
  If you're holding dollars overseas, you're, you're losing
• 24:43
  purchasing power also anyways. So both these things, both these
• 24:49
  things the global insurgency has has the geopolitical role of the
• 24:53
  USA and the impact on the dollar.
• 24:54
  Both of those things are caused by the bureaucratic elite,
• 24:59
  so-called elite. I don't see them as elite, but
• 25:01
  the bureaucratic elites how they see themselves in Washington DC
• 25:05
  and their policy which have completely hurt Americans, which
• 25:09
  is why you're seeing the rise of populism.
• 25:12
  Anyways, how high can the price go?
• 25:16
  Way higher than you think. Remember, the market for BTC is
• 25:19
  global and the supply has a final limit of 21 million BTC
• 25:24
  with unlimited fractionalization.
• 25:27
  Keep that in mind as you consider what happens if.
• 25:30
  What happens if Because of geopolitical uncertainty and the
• 25:33
  decline of the dollar as a reserve currency, BTC becomes a
• 25:36
  safe haven globally, which means that BTC could be what countries
• 25:40
  and all of us look to buy as a means to protect our savings.
• 25:44
  No shit, Sherlock, this is someone again that a couple
• 25:47
  years ago he was basically shitting on Bitcoin, basically
• 25:52
  making the case that that Bitcoin is useless, that it has
• 25:56
  no value. And now all of a sudden, guess
• 25:59
  what? He's using all the Bitcoin
• 26:01
  talking points. He's found Satoshi.
• 26:04
  He's you know, he's, he's, he's like, it's, it's so obvious.
• 26:07
  And this is game theory. Like, think about it, every
• 26:13
  single person notable, Mark Cuban, Jamie Dimon, Donald
• 26:16
  Trump, Michael Saylor, like the list goes on, they've all
• 26:21
  inevitably bended the knee because incentives matter,
• 26:25
  because the game theory matters. Bitcoin is superior money, full
• 26:30
  stop. Do you have the humility to
• 26:32
  admit that? Great, you will be able to get
• 26:35
  it at a cheaper price. You don't have the humility to
• 26:37
  admit that like Peter Schiff bro you're going to get absolutely
• 26:41
  wrecked anyways goes on to say crazy it already happens in
• 26:46
  countries facing hyperinflation and if things really go further
• 26:50
  than we can imagine today parentheses and I'm not saying
• 26:53
  that they will just that this has a possibility somewhere
• 26:57
  above 0 then BTC becomes exactly what the maxi's envision a
• 27:02
  global currency. Now this last part I believe
• 27:05
  he's he's wrong why I don't think the world needs the US
• 27:09
  dollar hyperinflating for Bitcoin to become the global
• 27:14
  currency. I think it's going to become the
• 27:16
  global currency because it's the better currency, right?
• 27:19
  And I think that there's only so many things you can do from a
• 27:23
  coercive from a coercive standpoint to slow that down,
• 27:28
  but you can't stop it. I'll give you another example
• 27:33
  when China seems to be changing, changing tune as it relates to
• 27:39
  Bitcoin and they're like hinting at unbanning it and kind of
• 27:42
  walking back the policy. Why, why did that happen?
• 27:46
  Well, it's very simple. If the US is going to have a pro
• 27:50
  Bitcoin government and they have a, a, a Bitcoin ETF, right,
• 27:56
  China now is at a geopolitical disadvantage if it doesn't have,
• 28:03
  it has an ETF in Hong Kong, which is kind of they use that
• 28:06
  as a proxy, right? But now if they don't have a
• 28:09
  thriving kind of Bitcoin industry in China, now they are
• 28:13
  at a geopolitical disadvantage versus the United States, which
• 28:17
  they see as an opponent of theirs, right?
• 28:20
  This is the game theory, ladies and gentlemen, this is what I'm
• 28:22
  talking about. This is what Max Kaiser's
• 28:24
  talking about when he was talking about the, the, the
• 28:27
  global hash wars and all that. Like you, you, you have Donald
• 28:30
  Trump basically saying like, I want all the Bitcoin being mined
• 28:33
  in the US, right? Like, and people are like,
• 28:35
  they're like, Nico, that's terrible for centralization.
• 28:37
  It's like, dude, do you not understand that all the other
• 28:40
  countries around the world, they all have egomaniacs as
• 28:43
  presidents and they all want to be like, no, I want the hash
• 28:45
  right here, too. Like, And what happens when
• 28:49
  countries compete for your business as an individual?
• 28:53
  You win, right? So this is beautiful.
• 28:56
  Love hash wars. Thank you, Oliver.
• 28:59
  There's a mosquito on my face, and I just killed it live.
• 29:03
  But yeah, man, this is really bullish stuff.
• 29:07
  And now you have the CEO of America's largest bank, JP
• 29:11
  Morgan, changing tune as well. I mean, I'm not surprised.
• 29:16
  You know what, Opti, I'm not surprised, but I am surprised in
• 29:19
  how quick it's happened. I'll say that like this has
• 29:23
  happened way quicker than I could have ever have
• 29:26
  anticipated. What's your take?
• 29:27
  I mean, I'm more surprised before, before I give you my
• 29:30
  take on the whole Mark Cuban stuff.
• 29:32
  I'm more surprised on that. Like, as a Bitcoiner, I'm like,
• 29:36
  yeah, this is great. Finally, they're embracing
• 29:39
  Bitcoin, roses at the end of the tunnel, bright orange future,
• 29:43
  all that good stuff. But I'm more surprised that it's
• 29:46
  all happening at the same time. And it really starts to give me
• 29:49
  the ick and I'm feeling like it feels like some coordinated
• 29:52
  effort to embrace Bitcoin. And now that that all the
• 29:56
  biggest bankers and you know, the politicians and billionaires
• 29:59
  are starting to come out. Maybe it's just my inherent
• 30:03
  paranoia as a Bitcoiner. I'm just like, OK, where's the
• 30:06
  angle? What are they trying to do?
• 30:08
  As much as I believe that Bitcoin is unstoppable and it
• 30:11
  will win, I think it's very important to keep your head on
• 30:14
  the swivel and try to see where they is a possibility of Co
• 30:20
  opting Bitcoin so that, you know, we don't get complacent.
• 30:23
  You know, that's my PSA before I go go into the Mark Cuban tweet
• 30:27
  in general, I'm old enough to remember Mark Cuban saying that
• 30:32
  he'd rather own bananas than Bitcoin, which was only a few
• 30:34
  years ago. So yes, it's great he's coming
• 30:37
  out and talking about Bitcoin and I, I, you know, I'm seeing
• 30:39
  loco in the chat. Like don't, don't make fun of
• 30:41
  him. Mock new bitcoiners.
• 30:42
  Totally get it. But you know, this is our job is
• 30:45
  to bring the receipts here. And as much as I love The
• 30:48
  Mavericks, you know, I'm in Dallas and I just recently
• 30:51
  became a Mavericks fan and Mark Cuban owns The Mavericks and and
• 30:54
  they're great and not, you know, sports ball and all that.
• 30:57
  I don't really see how this is an unpopular take, to be honest.
• 31:00
  Like he must not be listening to the same or he must not be
• 31:04
  speaking to the same audience that we are.
• 31:05
  It's like we we've been saying that on simply Bitcoin for, I
• 31:09
  don't know, the last month or so of like, of course this is a
• 31:13
  political move. Of course, this is a Bitcoin
• 31:16
  move of Trump and the RNC coming out and saying that they're
• 31:20
  going to embrace Bitcoin and hopefully bring Bitcoin business
• 31:23
  or rather keep Bitcoin businesses and not push
• 31:25
  Bitcoiners out of the country and, you know, make sure that
• 31:27
  all Bitcoin are mined in America or whatever Trump said.
• 31:31
  So it's, it's becoming very obvious that this is a Bitcoin
• 31:33
  play because when you really look at the numbers here,
• 31:36
  there's what, what's the number? It's like 10 to 50 million
• 31:40
  Bitcoin holders in the US or crypto holders in the US, Like
• 31:43
  that's a huge voting bloc. So of course they're going to
• 31:46
  try to do their best to ensure that they get voted in.
• 31:51
  Like it, it's pure politics in general.
• 31:53
  But the thing about Bitcoin moving forward is, like I said
• 31:58
  yesterday, I'm pretty sure it was yesterday.
• 31:59
  Like, it's such a novel idea that politicians and bankers
• 32:03
  work for the people they claim to work for.
• 32:05
  And so as much as I am still paranoid and got my tinfoil hat
• 32:09
  on and wondering like, OK, what's the angle?
• 32:12
  I'm also not too naive to believe that, oh, wow, they're
• 32:16
  realizing that they've lost control.
• 32:18
  And yeah, you want to get on the right side of history and
• 32:22
  embrace Bitcoin because you're only gonna hurt yourself.
• 32:24
  And hey, maybe someday soon, maybe in our lifetime,
• 32:28
  politicians will work for the people they claim to work for.
• 32:32
  Maybe bankers will work for the people that give them money and
• 32:35
  they get their profits off. And hopefully, as we move
• 32:39
  forward, Bitcoin ensures that. And so I'm not surprised that,
• 32:44
  you know, Mark Cuban came out and said this.
• 32:45
  It's literally something we say on the show every single day.
• 32:48
  It's like, yes, of course this is a Bitcoin play, Bitcoin play.
• 32:51
  Yes, of course Bitcoin is global.
• 32:53
  Yes, of course, this is the game theory playing out in real time.
• 32:56
  And Bitcoin's a safe haven asset.
• 32:58
  And everyone is waking up to that idea now, whether you know,
• 33:01
  big, big grudgingly or not, they're starting to realize what
• 33:04
  we've been talking about for a long time.
• 33:07
  Hey, you can buy treasuries if you want.
• 33:09
  You can buy government debt if you want.
• 33:11
  But there's a better option. And it is Bitcoin.
• 33:14
  It's been the best performing asset the last decade.
• 33:17
  And I think it will continue to be the best performing asset.
• 33:20
  And I, I love the fact that they're finally coming out and
• 33:23
  saying what we've been saying for a long time.
• 33:25
  Again, these are all signals to the average person out there
• 33:28
  that hey, Bitcoin is legitimate and it might be something that I
• 33:32
  want to hold. So of course I'm still paranoid
• 33:35
  and I'm still like, OK, what's the angle here?
• 33:38
  You know, I've been listening to my Whitney Webb and Mark Goodwin
• 33:40
  as well. And I'm wondering where they can
• 33:42
  Co-op this network. But I think as long as we all
• 33:47
  work from first principles here and we're taking Bitcoin into
• 33:50
  custody, you're running nodes, then hey, you know, you guys
• 33:54
  want to buy our bags and pump our bags like this is great.
• 33:57
  I'm OK with this. You know, it really does feel
• 33:59
  like this time might be different now that we have the
• 34:02
  institutions, now that we have billionaires with some
• 34:05
  conviction. Well, we're we're still not at
• 34:07
  the conviction stage yet, but we're starting to trend towards
• 34:10
  that direction. This is good for us.
• 34:13
  I think this I think the end of this year is going to get
• 34:15
  absolutely crazy. I think 2025 is going to be
• 34:17
  crazy in Bitcoin price action. But again, it's very important
• 34:21
  that we do keep our head on a swivel.
• 34:22
  We do stay kind of paranoid and we, you know, not necessarily
• 34:26
  mocking new entrants, but also not hero worshipping new
• 34:29
  entrants because hey, there's no one different on the Bitcoin
• 34:33
  network. We are all holders on the
• 34:35
  Bitcoin network. We all have the same problem, 8
• 34:39
  billion people on planet Earth all have the same problem, Fiat
• 34:41
  currencies of trash and there's nothing to save in.
• 34:43
  And Bitcoin is the superior money.
• 34:45
  And now people are at least at the very least talking about it
• 34:49
  and, and spreading that signal, even if it's like a Streisand
• 34:52
  effect where they're like, oh, this is a bad thing.
• 34:54
  Because it does kind of seem like he, there's a little hint
• 34:57
  of like, oh, this is a bad thing.
• 34:59
  And of course this is what's going to play out.
• 35:01
  But yeah, man, this is it's all good for Bitcoin.
• 35:03
  It's this is great. 100% also shout out to Casey for pointing
• 35:09
  this out Yeah help us get to 200 likes.
• 35:12
  If you guys are enjoying the show so far, make sure to smash
• 35:15
  that like button. Really, really helps with the
• 35:16
  algos and helps push the orange signal forward.
• 35:19
  Anyways, before we move on to the next block, I do want to
• 35:23
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  for more details. All right, everybody, let's hit
• 36:28
  the news, the Daily News. I want to give a shout out to
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  Opti I mean. With the right price in mind.
• 38:04
  I was going to say that, but Opti beat me to it anyways, so
• 38:08
  this was just to kind of give you guys an idea of how serious
• 38:13
  this is getting and how real this is.
• 38:16
  This is a Business Week interview with with the
• 38:20
  potential future president and the title that from Business
• 38:24
  Week is Trump on taxes, tariffs, Jerome Powell and more.
• 38:28
  Now what's really interesting about this is that a major part
• 38:32
  of this in in regards to his so-called Trump anomics, a major
• 38:39
  part of this is, you guessed it, Bitcoin, which is absolutely
• 38:43
  insane. This is something that we've
• 38:45
  been talking about for a couple of weeks now, but this is the
• 38:49
  real, this is the real deal. This is all this is.
• 38:51
  This isn't only about Trump, but the RNC, the Republican National
• 38:55
  Convention, by the way, they just hosted Bitcoin magazine.
• 38:58
  Shout out Mike Germano, shout out our boy Nick can't mine for
• 39:02
  being there and and covering what's going on in the the RNC
• 39:05
  convention. But yes, the RNC has made it
• 39:09
  part of the official party platform to protect the right to
• 39:12
  self custody, to protect the right to mine.
• 39:15
  So this is the big, this is a big deal.
• 39:17
  I, I can't emphasize that enough.
• 39:18
  So anyways, I'm going to read you some quotes as they relate.
• 39:21
  I don't really care about all the other stuff.
• 39:24
  I guess we are a Bitcoin show after all.
• 39:27
  But I'm going to read the quote, the parts in this Business Week
• 39:31
  interview as it relates to, of course, our industry.
• 39:35
  So he goes on to say this is Trump.
• 39:36
  He'd unleash the crypto industry and rein in reckless big tech
• 39:40
  companies. In short, he'd make the economy
• 39:42
  great again. It's so funny the memes write
• 39:45
  themselves. So it goes on to say where is
• 39:53
  the highlighted part? God damn it, there it is.
• 39:56
  OK, so this is all the stuff that it relates to Bitcoin.
• 40:01
  His reversal on cryptocurrency, this is what I was talking about
• 40:03
  earlier, where everyone kind of eventually bends the knee has
• 40:06
  been marked by similar dynamics. Not long ago, he criticized
• 40:09
  Bitcoin as a scam and a quote disaster waiting to happen.
• 40:13
  Now he says it and other cryptocurrencies should be made
• 40:16
  in the USA. He frames this about face as a
• 40:19
  practical necessity. Again, game theory can't say.
• 40:23
  I don't know how many times I have to say this.
• 40:25
  Ladies and gentlemen, game theory.
• 40:27
  If we don't do it, China is going to figure it out and China
• 40:31
  is going to have it or somebody else.
• 40:35
  Common effing sense, right? Like like Opti said, it's like
• 40:39
  you can't ban yourself from Bitcoin.
• 40:41
  You can only you. You can't ban Bitcoin.
• 40:43
  You can only ban yourself from Bitcoin.
• 40:45
  Seems like the Trump administration understands that
• 40:48
  and they're like, look, let's let's make it happen here in the
• 40:50
  US, right? Anyways, it goes on to say, not
• 40:54
  coincidentally, the crypto industry spurned by the
• 40:56
  Democratic Party, brimming with cash and eager for friends in
• 40:59
  Washington, has now found its way to Trump.
• 41:02
  Quote thanks largely to the actions of the SEC, the Biden
• 41:05
  administration has stumbled into becoming anti crypto.
• 41:10
  It goes on to say, quote given that about 20% of Democrats own
• 41:13
  crypto per polling, its ownership skews young and non
• 41:17
  white. This was politically unwise.
• 41:19
  No shit, Sherlock, who has been saying this?
• 41:22
  It's almost as if the business week folks are watching simply
• 41:25
  Bitcoin. ANYWAYS, it goes on to say Trump
• 41:28
  has moved to fill the void. Dude, I think people are
• 41:32
  watching our show, dude. Like, I think with this is like
• 41:35
  word for word the arguments that we've been making, which is
• 41:38
  nuts. Anyways, yes, obviously,
• 41:41
  obviously if you create an opportunity for the opposing
• 41:45
  political party, they're going to capitalize on it.
• 41:47
  And that's exactly what the Republicans and Trump did,
• 41:49
  declaring in a May speech that he would stop Joe Biden's
• 41:53
  crusade to crush crypto. The following month, he reaped
• 41:56
  the benefits, raising money from Bitcoin miners at a Mar a Lago
• 42:00
  fundraiser. Trump's campaign then announced
• 42:03
  it would, quote, build a crypto army and then now accept crypto
• 42:06
  contributions. Right.
• 42:08
  So I said that we've been covering this.
• 42:11
  I wanted to read you guys, the business, the business this is
• 42:14
  this is guys, this is like top echelon legacy financial media,
• 42:19
  like these types of interviews and these types of of, you know,
• 42:23
  coverage is no joke, right? And the fact that, you know, you
• 42:28
  have to kind of go a little bit low in the article.
• 42:31
  They kind, they don't bury it completely, but it's on the
• 42:34
  lower end, right? But it's there and it makes his
• 42:37
  policy, you know, his, his, his stance on it extremely clear.
• 42:42
  Now on yesterday's episode, I, I, when I found this out, I said
• 42:46
  I don't like this. And the reason I don't like this
• 42:49
  is because Jamie Dimon has not been very, very friendly towards
• 42:54
  the industry, towards Bitcoin. And it was it was a rumor.
• 42:59
  According to this fortune article that's, that's hosted by
• 43:02
  Yahoo Finance, Donald Trump cozies up to Wall Street and
• 43:06
  eyes Jamie Dimon for Treasury Secretary.
• 43:08
  I did not like that. Why did I not like that?
• 43:11
  Well, here's about I don't know if I'm going to play the entire
• 43:13
  clip. Here are some moments of Jamie
• 43:15
  Dimon over the years talking about Bitcoin.
• 43:18
  Care less about Bitcoin. I don't know why.
• 43:20
  I don't know why I said anything about it.
• 43:22
  I don't personally understand the value of something that has
• 43:24
  no actual value. Bitcoin hit a new high today it.
• 43:27
  Just I I could care less with Bitcoin trays for how it trades.
• 43:31
  Wyatt Trays who trades it? If you're stupid enough to buy,
• 43:33
  you'll pay the price for it one day.
• 43:35
  So Tulip balls traded for $75,000 once something like
• 43:38
  that. So every day you know, you have
• 43:40
  CNBC non-stop Bitcoin. Who cares about Bitcoin?
• 43:44
  My daughter sent me an e-mail saying dad I own 2 bitcoins, my
• 43:50
  formerly smart daughter. But this is the last time I'm
• 43:53
  ever going to answer a question of bitcoins.
• 43:54
  I don't care. I didn't want to be the
• 43:59
  spokesman against Bitcoin. I don't really get that's the
• 44:02
  point. OK and blockchain is real, it's
• 44:05
  technology, but Bitcoin is not the same as a Fiat currency.
• 44:09
  I personally think that Bitcoin is worthless, but I don't want
• 44:12
  to be as supposed as that. I don't care.
• 44:14
  It makes no difference to me. I think there's a good chance
• 44:16
  that when Bitcoin when we get to that 20 million bitcoins 42 no,
• 44:21
  that satoshi's going to come on there, laugh hysterically, go
• 44:24
  quiet. All bitcoins can be erased.
• 44:26
  I think man, how the hell do you know it's going to stop at 21?
• 44:28
  I've I've never met one person who told me they know for a fact
• 44:31
  they take that dramatically. It's Bitcoin itself is a is a
• 44:34
  hyped up fraud. You're back to that.
• 44:37
  But really, of course, yeah, it has all the characteristics of
• 44:41
  of a store of value. It's immutable.
• 44:44
  It's scarce it. Totally untrue.
• 44:47
  It's 21 million. Well, yeah, really.
• 44:49
  How do you know it's going to stop at 21 million?
• 44:51
  Because it's. I've mentioned it.
• 44:51
  To people, Toshi. Everyone says that, well, maybe
• 44:54
  it's going to get to 21 million and Satoshi's picture is going
• 44:56
  to come up and laugh at you all. I've always been deeply opposed
• 44:59
  to crypto, Bitcoin, etcetera. So OK, you guys get the point.
• 45:03
  I literally played you a minute and 43 seconds of a montage of
• 45:07
  this guy just absolutely shitting on Bitcoin, which is
• 45:10
  when I heard this. I told you guys yesterday, if
• 45:12
  you're watching yesterday's episode, I said I do not like
• 45:15
  this whatsoever. Now what was really interesting
• 45:18
  though, and again, back to the game theory, back to the
• 45:21
  incentives. Max Keiser's quote, you don't
• 45:24
  change Bitcoin, Bitcoin changes you.
• 45:27
  Check out this Forbes article. He changed his tune.
• 45:30
  Trump reveals JP Morgan CE OS sudden Bitcoin and crypto flip
• 45:35
  amid huge price surge. Now, is it because of the huge
• 45:39
  price surge? And we'll get into more details
• 45:41
  of the articles in a second. Is it because of the huge price
• 45:43
  surge? No, it is very simple if right,
• 45:47
  if it's part of the Republican platform to be pro Bitcoin, if
• 45:53
  the Trump administration is accepting donations from the
• 45:57
  Bitcoin industry and Bitcoin miners, right?
• 46:00
  You can't have a Treasury Secretary, right be Janet Yellen
• 46:05
  2 point O and be hostile towards the industry.
• 46:09
  So what happened was very simple behind closed doors, Jamie, if
• 46:13
  you want to be Treasury Secretary, this bullshit can't
• 46:18
  can't have that anymore. And what happens, I actually
• 46:22
  love Bitcoin. Bitcoin is a great thing.
• 46:24
  And this is what I'm talking about incentives.
• 46:26
  This is what I'm talking about the game theory.
• 46:28
  Now I know a lot of you guys in the chat.
• 46:30
  I know what you guys are thinking.
• 46:31
  I don't trust him. I don't like him.
• 46:33
  He's a banker. Look at all the shit he said.
• 46:35
  How could you trust him? Nico, you don't have to trust
• 46:38
  him. Trust his incentives.
• 46:42
  If, if the Republican Party is getting major donations from the
• 46:46
  Bitcoin industry, the Republican Party is now in the pocket of
• 46:50
  the Bitcoin industry. This is exactly what the bankers
• 46:54
  do to put the politicians in their pockets, except now we are
• 46:59
  putting them in our pockets. This is how the game is played.
• 47:02
  This is how it's always been played.
• 47:05
  So I know, it's like, I know it's hard for a lot of people to
• 47:08
  accept that, but This is why Jamie Dimon changed his tune.
• 47:12
  It's literally why he found God who found Satoshi.
• 47:16
  Not equivalent whatsoever, but you guys get what I'm trying to
• 47:19
  say anyways, so let's read some of the details.
• 47:25
  Bitcoin has rocketed higher over the last year as the CEO of the
• 47:30
  world's largest asset manager BlackRock admits he got Bitcoin
• 47:32
  wrong. The Bitcoin price has returned
• 47:34
  to near its all time powered by Wall Street's long-awaited
• 47:38
  arrival and growing possibility of a major political and
• 47:42
  regulatory earthquake. Now as Treasury Secretary Janet
• 47:45
  Yellen admits her fears over the future of the US dollar, former
• 47:50
  U.S. President and 2024 Republican
• 47:52
  White House race nominee Donald Trump has revealed JP Morgan CEO
• 47:56
  Jamie Dimon and arch Bitcoin and crypto skeptic has all of a
• 48:01
  sudden changed his tune. How funny is that?
• 48:05
  Jamie Dimon was I'm I'm assuming this isn't Trump's voice.
• 48:10
  Jamie Dimon was, you know, very negative and now all of a sudden
• 48:13
  he's changed his tune a little bit, Trump told Bloomberg last
• 48:16
  month following a private audience in which he met with
• 48:18
  Diamond, around 80 other business executives that
• 48:22
  included as city CEO, Bank of America CEO and Apple's CEO Tim
• 48:27
  Cook, and was described by Trump as a love fest.
• 48:30
  Diamond has remained a fiercely outspoken Bitcoin and crypto
• 48:34
  critic even as Wall Street began to warm up the technology,
• 48:38
  calling it a fraud and Ponzi scheme in April.
• 48:41
  Diamond has said that if he was in government, he'd shut it down
• 48:44
  and branded Bitcoin a waste of time, calling it a pet rock that
• 48:48
  does nothing. However, Diamond has has LED JP
• 48:50
  Morgan in developing and deploying its own blockchain and
• 48:54
  cryptocurrency, JPM Coin, to speed up and reduce the cost of
• 48:58
  transactions. Trump also didn't rule out
• 49:00
  considering Diamond for U.S. Treasury secretary if he retakes
• 49:04
  the White House in November, saying he has a lot of respect
• 49:07
  for Jamie Jamie Dimon. JP Morgan declined to comment on
• 49:11
  Trump's remarks when asked by Reuters this week.
• 49:14
  Trump named the pro Bitcoin and crypto former venture capitalist
• 49:18
  JD Vance as his 2020 for running mate.
• 49:21
  Trump has leaned into Bitcoin and crypto in recent months
• 49:24
  after making millions of dollars from a series of crypto based
• 49:28
  digital trading cards, the NTFS, putting him starkly at odds with
• 49:32
  the Biden administrations anti crypto stance.
• 49:35
  Trump declared support for crypto in May and began
• 49:38
  accepting campaign donations in Bitcoin and a handful of other
• 49:41
  cryptocurrencies. I've gotten to know people in
• 49:44
  the industry, their top flight people said Trump.
• 49:47
  OK, So what is happening? Let's let's analyze this article
• 49:51
  because there's a lot said in this article that you have kind
• 49:54
  of interpret. You have to analyze and you have
• 49:57
  to understand what's going on. OK.
• 49:59
  So you like Jamie Dimon as Treasury Secretary, but he can't
• 50:03
  have Jamie Dimon as Treasury Secretary saying if he was in
• 50:07
  government he would take it down because why?
• 50:10
  That would go against Trump's donors.
• 50:13
  You know who Trump's donors are? The Bitcoin miners and the
• 50:16
  Bitcoin mining industry. You understand where this is
• 50:19
  going, right? So at the end of the day, money
• 50:21
  makes the world go round. And in politics that is most
• 50:25
  definitely true. In current American politics, I
• 50:28
  would say most politics around the world, money is how you get
• 50:31
  elected. And as our industry continues to
• 50:35
  grow and thrive and get bigger and bigger and bigger and
• 50:38
  bigger, we are going to have more and more and more influence
• 50:43
  over society as a whole. And this is just the very
• 50:46
  beginning of just that. And think about how powerful
• 50:50
  that is. Like, think about that.
• 50:52
  Like, it gives me kind of chills talking about it that our
• 50:55
  industry has so much weight that it's able to not because
• 51:02
  internally, I bet you he hasn't changed his opinion, but
• 51:05
  publicly he, he has to change his opinion if he wants that
• 51:08
  sweet treasury spot, right? Our industry holds so much power
• 51:14
  that now you have the CEO of the world's largest bank stuck
• 51:19
  between a rock and a hard place. And basically, he has to make
• 51:23
  the decision, holy cow, if I want that Treasury spot, I got
• 51:28
  to change my stance on Bitcoin or else Trump won't give it to
• 51:32
  me because Trump's not going to give that spot to me.
• 51:37
  Because a mass part, a big part of his donor base is coming from
• 51:42
  the Bitcoin industry themselves, including Silicon Valley.
• 51:47
  See how that works? That's game theory.
• 51:49
  Ladies and gentlemen, This is the power of Bitcoin.
• 51:51
  This is the power of our movement and it's on the
• 51:54
  ascendant. It's on, it's, it's coming up.
• 51:56
  We're we're, we're just beginning.
• 51:58
  This is just beginning. This is how it works, how the
• 52:02
  banks currently own the government and how they just run
• 52:05
  shit like, you know, you'll see where things are going.
• 52:10
  I see Opti pulling something up. Don't.
• 52:12
  Pull it in yet. Don't pull it in yet.
• 52:14
  But yeah, I mean, dude, like it, it's pretty crazy.
• 52:19
  Like it. It's pretty crazy in the sense
• 52:20
  of like, like, dude, our industry holds weight, man.
• 52:25
  Like we're in like it's influential, it's influential
• 52:28
  and it's powerful to the point that it might cause the
• 52:31
  Democrats the election because they took an anti Bitcoin stance
• 52:36
  and that created us an opportunity for the opposing
• 52:40
  political party. And then when Trump identified
• 52:44
  that and we played you guys the clip, right?
• 52:46
  When he, he started testing it, when Vivek whispered it in his
• 52:51
  ear and he was like, and that would be anti CBDC.
• 52:54
  And the crowd was like, woo. And Trump's like, wow, that
• 52:57
  really worked. And he just kept doubling down.
• 53:00
  And then of course, that led to his support of Bitcoin, right?
• 53:05
  And then what happens if you're in the industry and you're
• 53:08
  you've been being prosecuted by the current administration,
• 53:12
  You're like, OK, let's support this guy because he's pro our
• 53:16
  industry, right? And then one thing led to
• 53:18
  another and now we're here, right?
• 53:20
  Where the CEO of America's largest bank, you know, and of
• 53:24
  course, you know, there's a revolving war and, and revolving
• 53:27
  door in Washington, DC, right, where Goldman Sachs executives,
• 53:33
  bank executives, they become Treasury Secretary.
• 53:35
  That's like kind of how the the shtick works.
• 53:39
  He's kind of stuck in, in a in a place.
• 53:41
  It's like, Jamie, I do like you. I respect you a lot, bro.
• 53:44
  But you can't be saying anti Bitcoin stuff.
• 53:47
  My donors aren't going to really like that, you know, And then
• 53:51
  you hear Trump going on fours basically saying, oh, he's
• 53:54
  changed his mind, right. So, you know, it's just
• 53:57
  hilarious how all that stuff works.
• 53:59
  Anyways, Opti pass it on to you. All right, Well, well, well,
• 54:05
  well. Love your takes, Nico.
• 54:07
  It was great. Good connecting the dots.
• 54:09
  I might take a little, you know, a flip side of this a little bit
• 54:14
  like everyone in the chat is saying, oh, Jamie Dimon's dumb.
• 54:18
  He didn't understand Bitcoin. I'm completely on the opposite
• 54:21
  side. I, I've been convinced for a
• 54:23
  long time that Jamie Dimon fully understands what Bitcoin is.
• 54:27
  I'm convinced he was probably doing the billionaire FUD
• 54:30
  playbook that I constantly talk about.
• 54:31
  We've seen this play out throughout the history of
• 54:33
  Bitcoin. Is that you FUD Bitcoin, you
• 54:36
  pack your bags and then once it's, you know, politically
• 54:39
  viable or when it's not career suicide, you come out and say
• 54:44
  Bitcoin is good. Well, we've gotten to that point
• 54:46
  now where it's no longer career suicide to embrace Bitcoin.
• 54:50
  It's becoming career suicide to not embrace Bitcoin.
• 54:53
  And like Niko was saying, if he wants to get that treasury
• 54:55
  position, what's it? Treasury Secretary or whatever
• 54:59
  the position is? I'm blaking right now.
• 55:01
  He is following his incentives and he wants that position.
• 55:05
  I'm, I'm guessing he wants that position.
• 55:07
  But you know, Jamie Dimon has been at least publicly, a huge
• 55:10
  skeptic on Bitcoin. He said all the bad things about
• 55:12
  Bitcoin, all the bad things about Bitcoiners, and yet he is
• 55:16
  the real criminal here. I don't even know if I can.
• 55:18
  Say it. But you let so let's go, you
• 55:20
  know, just Google who who who he was baking.
• 55:23
  Jamie Dimon's a great guy, you know?
• 55:26
  He's the best he's. Pro Bitcoin Pro Bitcoin Treasury
• 55:30
  Secretary I love. Him, I love him, you know, get
• 55:32
  the blizz he's. Talking about he's a good.
• 55:34
  Exactly, exactly. But you know, he famously banked
• 55:37
  someone that was in the news a couple of years ago when they.
• 55:40
  Come on our side, Opti. They're friends now.
• 55:42
  Hey, hey, I am just, I'm just saying, you know that the the
• 55:46
  the he's on our side now, Opti. He's on our side now.
• 55:50
  Yeah, to an extent. To an extent so.
• 55:54
  He bent the knee. I don't know yet.
• 55:57
  I'm I'm not convinced yet. I think this is from my
• 56:01
  perspective, my vantage point, it, it just seems like some
• 56:04
  flowery words he's saying what needs to be said, but I think
• 56:08
  this is more signal of where we are right now.
• 56:12
  This is this is the zeitgeist happening right now where
• 56:14
  everyone is changing their tune, where it's OK to talk about
• 56:17
  Bitcoin, it's OK to embrace Bitcoin, which is obviously a
• 56:20
  good thing. Like reading the temperature of
• 56:22
  the room now that he's coming out and saying Bitcoin, whether
• 56:24
  it's because he wants to get that position or whether he
• 56:27
  really believes it or whether he just realizes publicly he's OK
• 56:31
  to say this now. I think he's known what Bitcoin
• 56:34
  is for a long time, but publicly wasn't able to say it.
• 56:38
  So even even if if I don't like him, even though even if he is,
• 56:42
  you know, one of the the final bosses in the banking game, him
• 56:46
  coming out and saying Bitcoin even in in good light, I think
• 56:50
  it's good for Bitcoin. And this is where we are right
• 56:53
  now, where people are looking to the Jamie Diamonds and Larry
• 56:56
  Finks of the world. And ever since Larry Fink came
• 56:58
  out and said Bitcoin is good, everyone is slowly but surely
• 57:01
  changing their tune. And again, if I'm putting my
• 57:03
  tinfoil hat on, it does seem a little too coordinated for me.
• 57:06
  Maybe it's just because it's happening so fast and I'm like,
• 57:09
  all right, where am I going to get got?
• 57:11
  You know what, we've we've seen this play out for a long time.
• 57:14
  We can mention the OA banking crisis where, you know, the
• 57:16
  bankers never lose. And here we are now they're
• 57:20
  embracing Bitcoin. So as much as I love hearing it,
• 57:22
  I'm also kind of a little paranoid that, you know, maybe I
• 57:25
  got PTSD. But this is where the trend is
• 57:28
  going is that now people are able to embrace Bitcoin, even if
• 57:32
  it is JP Morgan. And also, you know, JP Morgan
• 57:35
  has had some some long standing investments in Ethereum.
• 57:38
  So like, you know, we know they've been in the game for a
• 57:41
  long time. JP Morgan is the official, I
• 57:44
  forget what the the official term is, but they're the
• 57:46
  official participant of the Larry Fink BlackRock ETF.
• 57:50
  So we know, again, the classic meme, watch what they do, not
• 57:55
  what they say. We know they've been in Bitcoin.
• 57:57
  I know Jamie Dimon has for a long time had these Bitcoin
• 58:01
  conversations. So I'm not surprised that we're
• 58:03
  seeing this play out in real time.
• 58:04
  It's just publicly they weren't able to embrace Bitcoin.
• 58:07
  But there was something in that article that I thought was
• 58:10
  probably the most interesting aspect of that article was that
• 58:15
  ID of the closed, closed door meeting with 80 of the top CEOs
• 58:19
  of the world. And it was a love fest.
• 58:22
  And they're all talking about Bitcoin.
• 58:23
  They're all embracing Bitcoin, which is something we've been
• 58:25
  saying here for a while that I think after a couple of quarters
• 58:29
  or maybe going into next year, who knows the time frame, we're
• 58:32
  going to see that some of these big corporations, some of these
• 58:35
  huge CEOs that people, you know, love and embrace coming out as
• 58:39
  being bit corners. And of course, that's going to
• 58:41
  be good for Bitcoin eventually if people aren't just buying an
• 58:44
  ETF and they're taking Bitcoin into custody.
• 58:46
  But on that point, I do want to bring up this screenshot I took
• 58:50
  this morning. I was going to tweet this and I,
• 58:52
  I didn't realize it was going to be just perfect for the show.
• 58:55
  So there's two bit corners right now.
• 58:57
  And this is from Noster. We have Odell in all caps.
• 59:00
  He goes Trump and his Neotech supporters, Thiel, A16Z, Elon,
• 59:04
  etcetera. Jamie Dimon, you know, Mark
• 59:06
  Cuban will likely accelerate Bitcoin adoption substantially.
• 59:10
  Seems obvious, many in denial. And then Jeff, I, I don't even
• 59:14
  know who Jeff is, but this is how the the noster algorithm
• 59:17
  showed it to me. And he goes, stop sucking up the
• 59:19
  politicians and bankers where where we're going.
• 59:22
  We don't need them. So there's two, you know, two
• 59:24
  opposing views right now in regards to where Bitcoiners are
• 59:27
  thinking and, and the vibe here where it's like, yes, of course,
• 59:31
  this will accelerate adoption, but also yes, of course, like
• 59:35
  keep your head on the swivel because you know, it feels like
• 59:39
  when the boogeyman come join us, like we're like, man, are we
• 59:43
  really, are we really doing what we think we're doing?
• 59:46
  I still think Bitcoin will win. I still think Bitcoin can
• 59:49
  withstand its decentralization as long as we're all working
• 59:53
  from first principles, but hey, they're here to pump our bags.
• 59:57
  So make sure you are taking your Bitcoin into custody.
• 1:00:00
  Don't buy a Bitcoin ETF run a node.
• 1:00:02
  Make sure that the Bitcoin network stays as decentralized
• 1:00:05
  as possible and that coin gets distributed into as many
• 1:00:08
  people's hands as possible. So like, hey, it's all good for
• 1:00:10
  Bitcoin, but again, let's stay let's stay vigilant and and make
• 1:00:14
  sure we don't get blindsided. So no hero warship but.
• 1:00:18
  If they're coming out saying Bitcoin is good or changing
• 1:00:21
  their tune now, it just goes to show where the trend is going.
• 1:00:25
  And I know I've said this for a while and we don't know and you
• 1:00:28
  can Fact Check me later, but it does feel like this time is
• 1:00:30
  different and things are going to go absolutely nuclear in
• 1:00:33
  2025. Yeah, man, look, you, you said
• 1:00:37
  something about the hero worshipping and and that stuff
• 1:00:40
  and it's like it's not hero worshipping.
• 1:00:41
  It's. Like no, I'm not saying you are
• 1:00:43
  I'm I'm just saying like. People, no, I understand, but
• 1:00:46
  it's, it's kind of like like don't trust them, trust their
• 1:00:50
  incentives. I agree, right.
• 1:00:51
  And it's like, like, I bet you Jamie Dimon right now is kind of
• 1:00:55
  like, shucks, maybe I should have just kept my mouth shut
• 1:01:01
  'cause I might not get that treasury position because of all
• 1:01:04
  the shit I talked about Bitcoin. And how, how am I coming to that
• 1:01:08
  conclusion, that Forbes article, the fact that Trump had to
• 1:01:13
  provide air cover for Jamie Dimon and basically say, oh, no,
• 1:01:16
  he's changed his mind tells you that he, Trump, Trump wouldn't
• 1:01:22
  say that just to say that. He's saying that because now he
• 1:01:26
  has a donor base that he has to make happy.
• 1:01:30
  And that donor base is part of the Bitcoin industry, right?
• 1:01:33
  So, yeah, I mean, guys, this, this means we're winning.
• 1:01:37
  Our, our, our, our, our movement is winning and let's stay
• 1:01:41
  winning. Anyways, let's get to the
• 1:01:43
  culture, learn about some nodes. Seems like Opti has a
• 1:01:46
  presentation for us. Looking forward to it.
• 1:01:48
  Let's get to it, the daily culture.
• 1:01:53
  All right everybody, I do want to give a shout out to our
• 1:02:00
  sponsor, the Orange BLOB Stack friends who stack sats and join
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  the 11,000 11,178 bitcoins that are currently on the app to
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  download it scan the QR code check the link in the video
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  description. It will take you directly to the
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  orange pal app where you can download it it's a great
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  application where you can connect with fellow bitcoiners
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  right So if you're in a new city, you don't know anyone
• 1:02:24
  around you. Perhaps you lived in your city
• 1:02:25
  and you just don't know any bitcoiners.
• 1:02:27
  It has a really cool geographical feature that it
• 1:02:29
  will literally show you the bitcoiners that are near you and
• 1:02:32
  gives you the ability to send them a message to connect with
• 1:02:35
  them. It's also the best way to reach
• 1:02:38
  me directly. So I don't really answer my
• 1:02:40
  Twitter DMSI don't really answer my emails get way too many
• 1:02:43
  messages these days. If you want to reach me
• 1:02:46
  directly, you want to talk to me, download the orange pill
• 1:02:48
  apps, send me Adm and I will get back to you.
• 1:02:51
  Also, if you're going to the Bitcoin Nashville and you don't
• 1:02:54
  know the you don't know enough events, the orange pill app is
• 1:02:56
  the resource for events. So it will literally show you
• 1:03:00
  the events that are happening near you, the Bitcoin events
• 1:03:03
  that are happening near you and the Bitcoin events to be at.
• 1:03:06
  So this is is like the Bitcoin. This is the Bitcoin social
• 1:03:10
  layer. Download the Orange Phil app
• 1:03:11
  today, scan the QR code or check the link the video description.
• 1:03:16
  Man I'm so. Wait, let me full screen this
• 1:03:18
  Nico. I wanna do a little PSA here,
• 1:03:21
  guys. Look, don't tune out here.
• 1:03:25
  This is important information. It will get a little technical.
• 1:03:27
  It's not as fun as dunking on, you know, Mark Cuban and.
• 1:03:30
  Context. What are we talking about?
• 1:03:32
  I'm going to give that context. We're going to be talking about
• 1:03:35
  nodes and we did a poll yesterday and This is why we're
• 1:03:39
  talking about it today. And I forget how many people was
• 1:03:41
  like 400 of you guys have voted and 75% of you guys do not run a
• 1:03:45
  node. I know it may sound difficult,
• 1:03:46
  but it's really not that hard. And This is why we're going to
• 1:03:49
  do today's culture on node. So I'll get through this as
• 1:03:52
  quickly as possible, as painless as possible.
• 1:03:54
  And then I do have my Start 9 server over here so that I can
• 1:03:57
  kind of show you the interface and all that stuff.
• 1:03:59
  So first and foremost, what is a node?
• 1:04:01
  Very simply, a Bitcoin node is a computer that is connected to
• 1:04:04
  the Bitcoin network running the Bitcoin software.
• 1:04:06
  Nodes follow the protocol rules to validate and relay
• 1:04:09
  transactions in blocks. A node is essentially a
• 1:04:12
  participant in the Bitcoin network, helping to ensure the
• 1:04:15
  integrity and consensus of the Bitcoin blockchain, or as I like
• 1:04:19
  to say, it's just your copy of every transaction that ever
• 1:04:21
  happened on the Bitcoin time chain slash blockchain.
• 1:04:24
  You want to be able to verify your own transaction so you know
• 1:04:27
  what's going on on the time chain so you don't have to trust
• 1:04:30
  other people. So again, what does a node do?
• 1:04:32
  Nodes broadcast and relay transactions to other nodes and
• 1:04:35
  miners. Miners batch these transactions
• 1:04:37
  into blocks and publish those blocks to the blockchain,
• 1:04:40
  validating the transactions. Node received these blocks,
• 1:04:43
  share them amongst one another and verify that the miners are
• 1:04:46
  following the rules of the network.
• 1:04:47
  This is probably the most important part.
• 1:04:49
  When a node receives a new transaction or block, it relays
• 1:04:52
  it to its peers so that all nodes and miners can remain In
• 1:04:55
  Sync and maintain identical blockchain.
• 1:04:57
  So why do you need a node? Well, one, so you can verify
• 1:05:00
  Bitcoin supply so that you can independently verify the state
• 1:05:04
  of the Bitcoin network again so that you can follow the rules of
• 1:05:08
  the Bitcoin network and you ensure that other people are
• 1:05:11
  following the rules. And 2nd, to prevent double
• 1:05:13
  spending of Bitcoin, a node will automatically reject any Bitcoin
• 1:05:17
  that has already been spent before, ensuring that you don't
• 1:05:20
  double spend your Bitcoin. And then the probably personally
• 1:05:23
  for you guys, what might be the most important aspect besides
• 1:05:26
  verifying what's going on in the Bitcoin network and that, you
• 1:05:30
  know, the Bitcoin rules are being followed, is that you use
• 1:05:33
  Bitcoin without a third party. Remember what it said in the
• 1:05:35
  white paper, Money on the Internet works based on trust.
• 1:05:40
  Well, now you don't have to trust people, but if you are
• 1:05:43
  using someone else's node, then you are trusting someone else to
• 1:05:46
  give you the Bitcoin blockchain to ensure that they're sending
• 1:05:50
  your transactions, but also you're giving up some of your
• 1:05:54
  privacy. So a node allows users to
• 1:05:56
  broadcast and verify their own transactions rather than relying
• 1:06:00
  on someone else. Again, just wrapping it up, key
• 1:06:02
  takeaways before I give you some options.
• 1:06:05
  A Bitcoin node stores and verifies each block in the
• 1:06:07
  blockchain. Nodes form a network by
• 1:06:09
  connecting and sharing blocks and transactions with one
• 1:06:12
  another. A node allows a user to verify
• 1:06:14
  Bitcoin balances without a trusted third party.
• 1:06:16
  And by running a node, a user is capable of enforcing the rules
• 1:06:19
  of the network, ensuring that they are not being deceived and
• 1:06:22
  that other parties cannot maliciously change bitcoins rule
• 1:06:25
  set. This is why you would want one.
• 1:06:27
  OK, now yesterday in the chat, you know where I'm going to show
• 1:06:31
  you start nine because I love it.
• 1:06:33
  I think it's the best one now, but there are other options if
• 1:06:36
  you don't want to spend any money.
• 1:06:38
  You already have this requirements, go to bitcoin.org,
• 1:06:41
  come up here to participate and hit run a full node and then
• 1:06:44
  you'll go over here to running a full node and you can reread all
• 1:06:47
  this stuff. You can you know, I would
• 1:06:49
  recommend you read it all first or at least read what is
• 1:06:52
  applicable to you and then downloaded Bitcoin Core node and
• 1:06:56
  you know, start verifying your own transactions.
• 1:06:59
  But here just for those people wondering whether they have the
• 1:07:02
  minimum requirements, all you need is a desktop, a laptop
• 1:07:05
  hardware running a recent version of Windows, Mac OS or
• 1:07:08
  Linux. You need 7 gigs of free disk
• 1:07:11
  space accessible at a minimum read write speed of 100
• 1:07:14
  megabytes. You need two gigs of of RAM or
• 1:07:16
  memory. You need the Internet.
• 1:07:18
  You need semi decent Internet. You probably already have good
• 1:07:20
  enough Internet. If you're watching this.
• 1:07:22
  You need to make sure that this computer is connected to the
• 1:07:25
  Internet constantly and that it runs six hours a day.
• 1:07:28
  So it could literally be an old laptop.
• 1:07:31
  I wouldn't necessarily recommend you use your daily driver for
• 1:07:34
  your, you know, whatever laptop you're using right now or your
• 1:07:36
  desktop, but you can do that. That's it's up to you or you do.
• 1:07:41
  What we would recommend is you get yourself a standalone node
• 1:07:45
  so it sits at your house. It's always running, it's always
• 1:07:47
  verifying the the Bitcoin network and we love Start Night.
• 1:07:52
  Can I try? Can I just you get yourself a
• 1:07:55
  dedicated computer that's always running Bitcoin and always
• 1:07:58
  connected to the Internet? Exactly, but hey, if these price
• 1:08:02
  points are too much, you could get yourself a ThinkPad on eBay
• 1:08:05
  for like 100 bucks, put a new SSD in it and you're good to go.
• 1:08:09
  Or an old laptop you have just reflash start OS on it and
• 1:08:12
  you're good to go. So we love start nine.
• 1:08:15
  I'm a huge fan of start nine. I just got mine I think like a
• 1:08:17
  month ago. I think it's a top notch.
• 1:08:19
  There are other options, you know, umbrell, mynode or
• 1:08:22
  whatever, but I absolutely love the start nine.
• 1:08:24
  It's the go. Like personally I think it's the
• 1:08:27
  go and there's two options. There's a server one $600.00.
• 1:08:31
  I, I had a conversation with Matt Hill when he came on last
• 1:08:34
  time and he's like, look, if you're not a paranoid person
• 1:08:37
  like myself, a server one's great.
• 1:08:40
  It's just not completely open source software or hardware, but
• 1:08:44
  it's a solid node. You know the the attack vectors
• 1:08:48
  are minimum, but if you are like me and you're a little more
• 1:08:51
  paranoid, then you get yourself a server pure.
• 1:08:53
  It does cost more, but it's all open source hardware.
• 1:08:56
  So it's been checked. There's no back doors.
• 1:08:59
  It's completely secure. You're making sure that there is
• 1:09:03
  no, you know, potentially back doors on your node again, you
• 1:09:09
  know, if you just want to do DIY it yourself, you can just flash
• 1:09:14
  start OS on a Raspberry Pi or your desktop laptop mini PC.
• 1:09:19
  Most of them it will take a little more.
• 1:09:21
  You know, it's free, but it there there is a little
• 1:09:24
  technical hurdle to to doing that process.
• 1:09:27
  And if you're like me, man, you just buy yourself a server pure,
• 1:09:30
  plug it in, run everything you want on it, and it's beautiful.
• 1:09:35
  OK, now moving over here. I do want to pull up my
• 1:09:39
  interface here and this on a different laptop right here.
• 1:09:42
  So this is the Start 9 server interface.
• 1:09:45
  When you download it, you'll have to add services on the
• 1:09:48
  marketplace. So here's the marketplace.
• 1:09:53
  It's not changing over here. What's going on There we go.
• 1:09:57
  OK, so you can see all the start 9 the apps that you can put on
• 1:10:01
  your server. There's a bunch of different
• 1:10:03
  stuff you can do you know your what are what are the the
• 1:10:06
  password organizers? You can download jam, you know
• 1:10:11
  coin join. You can download different L&D
• 1:10:13
  processes. You can do you know, BTC pay
• 1:10:17
  server. Oh, there's mempool.
• 1:10:19
  There's a lot of cool stuff on here that you can do like I have
• 1:10:23
  here I just I pretty much just use this as a node.
• 1:10:25
  So I have Bitcoin core connected to electrum server.
• 1:10:27
  I have been kind of I've been thinking about playing with BTC
• 1:10:30
  pay server. I have core lightning connected
• 1:10:32
  to my Zeus on my phone so you can run your own lightning
• 1:10:38
  wallet on your phone connected to your own node and this one
• 1:10:41
  not on this computer particularly, but it's connected
• 1:10:44
  to Sparrow on a different laptop.
• 1:10:45
  I just haven't gotten to this computer yet, but my favorite
• 1:10:49
  part here guys, is literally running my own instance of
• 1:10:52
  mempool. So go to mempool.
• 1:10:54
  You know, I, you can see here. I, I clicked it here.
• 1:10:57
  Let me go back. If you click right here, run
• 1:11:00
  your own instance of mempool and you can check what's happening
• 1:11:04
  on the Bitcoin network itself via your own mempool.
• 1:11:07
  So this is what my note is telling me the mempool is doing
• 1:11:11
  so I'm verifying this myself. You know, fees are low.
• 1:11:14
  Could could be a good time to consolidate transactions.
• 1:11:17
  It's you know, you can get all the blocks coming in like it's
• 1:11:20
  it's I love this start nine. This manpool might be my
• 1:11:23
  favorite thing to do is just instead of going to manpool dot
• 1:11:27
  space and trusting the dudes over at manpool dot space, which
• 1:11:30
  is Wiz. I you know, I trust him, but
• 1:11:31
  also I'm trying to minimize trust.
• 1:11:34
  I run my own so it's pretty simple.
• 1:11:37
  Guys like This is why I highly recommend a start 9 server.
• 1:11:40
  Get yourself a pure. I know it's an investment, but
• 1:11:43
  it's beautiful. It sits in the corner, it's
• 1:11:45
  quiet connected to your router and you're good to go.
• 1:11:49
  You can connect this to all of your wallets and you're
• 1:11:53
  completely sovereign. Me and Nikko joke all the time
• 1:11:56
  about it. Like when you leave your house
• 1:11:58
  and you have your wallet connected to your start 9
• 1:12:00
  server, you just feel so sovereign.
• 1:12:02
  You're like, hell yeah, I run my own sovereign computing.
• 1:12:06
  My my own node is verifying all of my wallet.
• 1:12:08
  It's very, very simple process. But remember guys, you want to
• 1:12:12
  run a node so that you can verify what's going on the
• 1:12:15
  Bitcoin network yourself. Don't trust someone else.
• 1:12:18
  It's very simple. There's a spectrum here.
• 1:12:20
  You can do the free process where you just download a
• 1:12:23
  Bitcoin core on a laptop that you have sitting around.
• 1:12:27
  That's great. You don't have to spend money if
• 1:12:29
  you don't want to or you go all the way and you basically get
• 1:12:32
  the Lambo of nodes, which in my opinion is the start nine.
• 1:12:35
  It's it's in my opinion, the best one.
• 1:12:37
  It's the GOAT, the start 9 server pure is the best and I
• 1:12:41
  absolutely love it. I'm a huge fan.
• 1:12:43
  I I talk about it constantly on the show.
• 1:12:46
  But also again, if you're a little more technical, Matt
• 1:12:48
  Hill, when I was having when I had him on the show, we were
• 1:12:50
  talking after the show and he's like, look, dude, our company is
• 1:12:54
  not just standalone nodes like they sell the standalone nodes
• 1:12:58
  that they can build the start OS software.
• 1:13:01
  So if you're a little more technical flash start OS on a
• 1:13:04
  laptop and you know, get yourself a cheap ThinkPad off
• 1:13:07
  eBay and you can basically set up a node yourself.
• 1:13:10
  But the features of a standalone node is it's going to be running
• 1:13:15
  all the time. You won't have to sync the
• 1:13:17
  blockchain up if you close your computer.
• 1:13:19
  So you can basically do whatever you want instantly.
• 1:13:22
  It's going to connect to your phones.
• 1:13:23
  It's, it's absolutely worth the cost to get yourself a start
• 1:13:28
  night node. But it's very simple, guys, you
• 1:13:29
  need to run a node. Stop trusting someone else with
• 1:13:32
  what's going on. The Bitcoin time chain become
• 1:13:35
  truly sovereign. Make sure you're verifying
• 1:13:37
  what's happening on the Bitcoin network yourself.
• 1:13:39
  If you are not running the Bitcoin software, I would argue
• 1:13:43
  you're not really using Bitcoin. But I don't want to just give
• 1:13:46
  purity test here. Make sure first and foremost, I
• 1:13:49
  think there's steps here. Make sure you buy some Bitcoin,
• 1:13:53
  then make sure you're taking that Bitcoin into custody.
• 1:13:56
  Once that bitcoins into custody, make sure you're running a node
• 1:13:59
  so that every time you take Bitcoin off an exchange or you
• 1:14:02
  receive Bitcoin from someone, you are verifying that you are
• 1:14:05
  actually getting Bitcoin. How do you know you're getting
• 1:14:08
  real Bitcoin is because you're running a node and you're
• 1:14:10
  verifying that this is actually Bitcoin and not some fake coin.
• 1:14:14
  This is why you need to use a Bitcoin node.
• 1:14:16
  And then of course, the added benefit of you don't leak any of
• 1:14:20
  your privacy if you're running your own node like these are the
• 1:14:23
  reasons you want to run a node. And the fact that I did a poll
• 1:14:26
  yesterday shots, I think it was Matthew in the chat, Matthew
• 1:14:29
  Jay, he's like run a run a poll about running your own node.
• 1:14:32
  And I was honestly surprised that 70% of you guys hanging out
• 1:14:36
  with us live do not run your own node.
• 1:14:38
  So I take some time to read up through this.
• 1:14:42
  Make sure you get to the process of running your own node.
• 1:14:44
  It's really not that hard. Like I'm not that technical.
• 1:14:48
  When I was first trying to run a node, I, I literally couldn't
• 1:14:51
  because I, I just wasn't technical enough.
• 1:14:53
  But now I know enough command line where I can run any node.
• 1:14:56
  But also you don't need to be a technical computer whiz to run a
• 1:14:59
  node. You can just buy a stand alone
• 1:15:01
  node, plug it into your router and that's about it.
• 1:15:04
  So there's a spectrum here from if you want to, if you really
• 1:15:08
  want to like initiate yourself, download Bitcoin Core, get it on
• 1:15:13
  a laptop. I feel like it's almost a rite
• 1:15:15
  of passage to download Bitcoin Core, you know, on a laptop.
• 1:15:19
  See the initial block download, which will take about a day or
• 1:15:22
  so depending on how strong your computer is, but you need to run
• 1:15:26
  a node. Very simply, you need to run a
• 1:15:28
  node. And also one last thing before I
• 1:15:30
  pass to Nico, someone in the chat was asking yesterday and
• 1:15:33
  today, can I run a node on my Android?
• 1:15:36
  There is, I think it's not that you can run on your phone, but
• 1:15:40
  you can also just download Zeus and Mutiny and they'll do.
• 1:15:44
  I'm pretty sure it's like the neutron, the neutrino filters
• 1:15:48
  and you can run a lightning node stand alone on your phone, but
• 1:15:52
  highly recommend you get yourself your own node on your
• 1:15:55
  laptop stand alone node so that it's just running constantly and
• 1:15:58
  you can verify your transactions.
• 1:16:00
  Again, I just love the start nine.
• 1:16:02
  I'm I'm becoming a huge start nine chill.
• 1:16:04
  Shouts out to the Start Nine team because it's absolutely
• 1:16:07
  beautiful. 100% yeah dude, and I think you did a great job just
• 1:16:11
  kind of giving everyone the. Wait, wait, wait, look, 'cause I
• 1:16:15
  feel Bitcoin node shame. Yes, you should.
• 1:16:17
  I'm shaming you into running a node, but this is for your
• 1:16:19
  benefit. I'm like a dad here like I know
• 1:16:22
  I'm being tough here, but this is I'm shaming you into running
• 1:16:25
  a node because this is for you. This is not this is not to this
• 1:16:28
  literally doesn't benefit me in any way.
• 1:16:30
  This is this is for you to make sure that you are using Bitcoin
• 1:16:34
  in my opinion correctly, and this is what it's all about is
• 1:16:37
  you becoming sovereign. There is some steps you're going
• 1:16:40
  to have to take and we need as many people running nodes as
• 1:16:43
  possible. We need as many economic nodes
• 1:16:45
  out there as possible. Meaning you are verifying your
• 1:16:48
  own transactions with your own node because we do not want the
• 1:16:51
  Bitcoin network to get Co opted, especially considering all of
• 1:16:54
  the new entrants and then billionaires and bankers and
• 1:16:57
  politicians coming into the Bitcoin space.
• 1:17:00
  You need to run a Bitcoin node like full stop.
• 1:17:03
  Full stop. If you're here, you need to run
• 1:17:05
  a node. Yes, you do the set 72.
• 1:17:08
  We we we're going to we should run a poll again in about a week
• 1:17:12
  or so and see if those numbers improve.
• 1:17:14
  And we're we're going to keep running polls until we shamed
• 1:17:17
  you. But I think Opti did a great job
• 1:17:18
  just kind of give you giving guys like.
• 1:17:21
  Wait, one more thing. Sorry, no.
• 1:17:22
  No, no, not one more thing. Hold on, he says.
• 1:17:25
  Sorry, I'm not spending $600.00 on something I'm.
• 1:17:27
  Going to get to that I. Agree, it's free.
• 1:17:29
  I'm going to. I'm just.
• 1:17:30
  Telling you I'm going to get to that.
• 1:17:32
  So Opti, I think you did a great job kind of doing a like
• 1:17:35
  overview perspective on what a note is, how you do it.
• 1:17:40
  I'm gonna just try to simplify it and as little words as
• 1:17:42
  possible. It's just a computer at your
• 1:17:45
  house that's running Bitcoin, right?
• 1:17:48
  It'd be kind of annoying to run Bitcoin on a laptop, for
• 1:17:52
  example, because you it's it's kind of resource intensive and
• 1:17:57
  you're probably going to be shutting your laptop screen
• 1:18:00
  every once in a while, right? Maybe if you just have a desktop
• 1:18:03
  that's like always just kind of sitting there, maybe run it
• 1:18:06
  there. But again, it's, it's, it's it's
• 1:18:08
  not a very heavy software, but it is something that is going to
• 1:18:11
  be running in the background constantly.
• 1:18:13
  So I would say having a dedicated device is, is great.
• 1:18:17
  That's where the Start nine comes in.
• 1:18:19
  And what Opti was showing in regards to the Start 9
• 1:18:22
  marketplace, that's at like another level altogether where I
• 1:18:26
  think where this is going. And essentially what that is, is
• 1:18:30
  a sovereign computing versus cloud computing.
• 1:18:33
  Cloud computing is when you use someone else's computer, and the
• 1:18:37
  way that things work today is when you send a message, for
• 1:18:42
  example, on Signal, you send it from your phone to the Signal
• 1:18:46
  server to the other person, right?
• 1:18:48
  So there's an intermediary in place, but with things like
• 1:18:52
  Start 9, there's a variety of apps where the messaging or even
• 1:18:57
  hosting files is hosted by yourself.
• 1:19:00
  So let's say I'm sending a message from my Start 9 to Opti
• 1:19:04
  Start nine. It's peer-to-peer.
• 1:19:06
  I'm sending it directly to Opti via tour.
• 1:19:09
  So it's completely encrypted and there is no intermediary, right?
• 1:19:13
  Let's say I'm hosting my own files on my Start 9.
• 1:19:17
  I'm hosting those files. I'm not leaving those files on
• 1:19:20
  Google Drive. If I'm leaving files on Google
• 1:19:22
  Drive, I those aren't my files, Those are Google's files and I'm
• 1:19:26
  asking Google for permission to use that.
• 1:19:29
  That's what cloud computing is. And obviously that creates an
• 1:19:32
  issue, right? So a Start 9 isn't just a
• 1:19:36
  Bitcoin node, it's the, it's the entry point to sovereign
• 1:19:41
  computing where I think it is so awesome.
• 1:19:44
  Cuz imagine hosting all those things yourself, all those files
• 1:19:47
  yourself. Imagine hosting your own e-mail
• 1:19:50
  server. So you don't have to trust
• 1:19:51
  Google or you don't have to trust a third party.
• 1:19:54
  That's where I think this is going.
• 1:19:55
  That's what our boys over at Start nine are using.
• 1:19:58
  And if you're interested in getting yourself a Start 9, use
• 1:20:01
  promo code Simply Bitcoin and you get 9% off.
• 1:20:04
  I highly recommend it. Initially, I reacted the same
• 1:20:07
  way. I saw someone mention the
• 1:20:08
  $600.00 thing. When the first one that came
• 1:20:11
  out, it was like 2 GS and I literally like the Futurama
• 1:20:14
  meme, which is like, Matt take my money, God damn you.
• 1:20:18
  And I got one of the first versions of the server Pier, and
• 1:20:21
  I have not regretted it. It's one of the best
• 1:20:23
  investments. It is surreal when I'm
• 1:20:26
  traveling, like if I'm in Canada or Portugal and I have to pull
• 1:20:29
  up my Bitcoin wallet and I just see it syncing and I know it's
• 1:20:33
  syncing with my node all the way in Florida, right?
• 1:20:36
  I'm not trusting some random person's node, right?
• 1:20:40
  I'm not doxing my my balance. I'm not doxing my transaction.
• 1:20:44
  Every time you go to likemempool.spaceorblockstream.info
• 1:20:49
  and you go to those websites to check a transaction, you're
• 1:20:52
  doxing your IP address. And if you're looking up a
• 1:20:56
  specific transaction, they could pretty much tell, OK, this
• 1:21:00
  transaction probably has something to do with this IP
• 1:21:03
  address. When you use your own node,
• 1:21:05
  you're not doxing anything. You're just asking yourself,
• 1:21:08
  right, what the what the status is of that transaction, right?
• 1:21:13
  So that's what I would suggest. I think Opti did a great kind of
• 1:21:17
  a breakdown in terms of you can do this yourself or you can be a
• 1:21:21
  convenience maxi like Nico and just buy yourself.
• 1:21:25
  Hey man, I use Apple, I'm a convenient maxi, that's why I
• 1:21:29
  bought a start 9. So the Start 9 Server Pure is
• 1:21:31
  the best one. There's obviously a cheaper
• 1:21:33
  version which is really good as well.
• 1:21:36
  But on the different there's. Pros and cons There's pros and
• 1:21:39
  cons. The Start 9 server pure is
• 1:21:41
  completely open source hardware, so you're you're comfortable in
• 1:21:45
  the idea and the thought that there is no back doors.
• 1:21:47
  Yes, the the server one and does have just, you know, some off
• 1:21:53
  the shelf parts, but it's great. You know, it's it's the attack
• 1:21:56
  vector is is minor. So like, if you're like me, just
• 1:22:00
  super paranoid, then you pay higher just to make sure that
• 1:22:03
  you're getting that, you know, completely safe device.
• 1:22:06
  But again, all the start 9 stand alone nodes is pretty much
• 1:22:10
  you're buying them just for the development, further development
• 1:22:12
  of start OS. So you can do that for free.
• 1:22:14
  And and that's what we're here to show you.
• 1:22:16
  You can do this for free or you know, you pay a little bit to
• 1:22:19
  secure your potential million dollar Bitcoin.
• 1:22:22
  Like yes, it's an investment, but if we are going where we
• 1:22:26
  think we're going, you want to ensure that you are protecting
• 1:22:29
  yourself and you're verifying that the your Bitcoin yourself.
• 1:22:32
  So this is what it's about truly become sovereign.
• 1:22:34
  Don't just advocate about Bitcoin.
• 1:22:36
  Don't just take Bitcoin off an exchange into a wallet.
• 1:22:39
  Make sure you're verifying your transactions for yourself. 100
• 1:22:43
  percent, 100% agree with that. One last one for the audios, you
• 1:22:46
  run a node so no one can stop you from sending and receiving
• 1:22:49
  Bitcoin. This is another feature.
• 1:22:51
  Yeah, and it's privacy, right? Again, if you don't run a node,
• 1:22:55
  you're trusting someone else's and you're using someone else's
• 1:22:57
  node. Don't do that.
• 1:22:58
  Become a sovereign individual. Part of that is obviously taking
• 1:23:03
  Bitcoin into self custody and the next step is running your
• 1:23:06
  own version of the Bitcoin software so you don't have to
• 1:23:09
  trust someone else's. Remember when the fork wars
• 1:23:11
  happened? The reason that they weren't
• 1:23:13
  able to get their way and increase the block size was
• 1:23:18
  because there was many individuals all around the world
• 1:23:21
  and they said, you know what? I'm just not downloading that
• 1:23:24
  version of Bitcoin. I'm sticking with my version of
• 1:23:26
  Bitcoin, which makes Bitcoin extremely hard to Co opt.
• 1:23:30
  And the more more people run their own version of Bitcoin,
• 1:23:34
  that's their vote. That's their vote to basically
• 1:23:36
  say no, I don't want to do that. If you don't run your own node,
• 1:23:39
  you're trusting on someone else's vote, which you know,
• 1:23:43
  sometimes it will be in your favor, sometimes it won't.
• 1:23:46
  I would suggest taking that power back into your own hands.
• 1:23:49
  Anyways, guys, this was simply Bitcoin for July 18th, 2024.
• 1:23:53
  I'm your host. Nico is my Co host Optimus
• 1:23:56
  Fields. Hope you guys enjoyed the show.
• 1:23:58
  We broke 200 likes, some good viewership.
• 1:24:00
  So it seems like you guys are enjoying the shows as of late.
• 1:24:04
  Really appreciate the support. We wouldn't be here without you.
• 1:24:07
  And we'll be back Friday for an episode of Simply Bitcoin Live.
• 1:24:11
  And next week, ladies and gentlemen, we will be live
• 1:24:14
  streaming from Nashville, TN and I'm sure we're going to have
• 1:24:18
  some great shows for you guys. All right everybody.
• 1:24:21
  Until then, love you all. Peace Out Everybody episode was
• 1:24:25
  brought to you by bitcoinwell.com on a mission to
• 1:24:29
  enable independence.