Latest / Simply Bitcoin / Was Bitcoin Created by The CIA?! | EP 1360

Transcript

Was Bitcoin Created by The CIA?! | EP 1360 · Simply Bitcoin

• 0:00
  We have some new allegations from one of the world's largest
• 0:03
  podcasters that claims Bitcoin was created by the CIA.
• 0:06
  Today we're going to be exploring whether it's true and
• 0:09
  what it means for you if Bitcoin was created by either the NSAFBI
• 0:13
  or maybe the US government. So let's roll the clip for you.
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  Do you have any? Do you invest in Bitcoin?
• 0:21
  Do you think it's like a viable asset to invest in?
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  Oh man, I don't want to make more enemies.
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  I mean you want the real is my last answer, but so I you want
• 0:31
  the actual answer. Yeah, sure.
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  And here's why I spoke at the Bitcoin conference actually last
• 0:39
  year. I've spoken at a couple of
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  Bitcoin conferences. I love the idea of Bitcoin
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  because I love the idea of financial autonomy.
• 0:45
  I don't want what I buy or sell to be tracked.
• 0:47
  I don't want my money to be tracked.
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  It's somebody's business. I pay my taxes.
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  I've never cheated on my taxes. I've been very tempted, but I
• 0:53
  never have one time cheated on my taxes.
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  And once the money's mine, like, I can do what I want with it.
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  And if you find me breaking a law, arrest me.
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  But if you don't, it's none of your beeswax, as the kids say.
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  So I love the idea of the blockchain.
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  I knew some of the people involved in that whole thing.
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  And then And I still believe in that promise.
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  OK Roger Vera, for example, I don't know how close would you
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  follow this? But like, there are people who
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  still believe in that. But it turns out that it is not
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  to this point, Ben. I hope it will be a way to
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  conduct financial transactions privately at all.
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  And that really freaks me out. I'm really afraid of a digital
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  currency because that is totalitarian control.
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  If you can punish people, if you can zero out their bank account
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  and keep them from eating, you will have total obedience.
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  Like that's totalitarian. And I know that young people
• 1:47
  love crypto because they've been completely screwed in the job
• 1:51
  market and there are no financial opportunities for most
• 1:53
  of them. And they know they're staring
• 1:55
  down a life of, if not poverty, certainly a step down from the
• 1:59
  way they grew up, most young people.
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  And so Bitcoin for them, crypto in general for them is a promise
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  of like, how can I make it in this world?
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  Like I would like to have a normal life.
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  How can I do that? And crypto is the a way they
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  think that they can. And I'm praying for them.
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  I hope, I hope that's true. But I fear that it will become,
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  like so many other things in our country, a scam of sorts run by
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  a coalition of the financial beneficiaries, like a few people
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  who are getting all the winnings and the politicians they control
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  who use it to further their control of of American Society.
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  I'm really worried about that. And so I'll just be totally
• 2:39
  bummed with you. I'm a gold buyer, and I've been
• 2:41
  vindicated big time in that. And everyone's like, oh, you're
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  crazy buying gold. You know, it was good enough for
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  the Phoenicians. It's good enough for me, and I
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  in general, don't get involved in anything I don't understand.
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  I think that's a really good rule.
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  There's some things I think I understand.
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  Turns out I didn't understand them.
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  But in general, I try to limit myself to things I understand.
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  And nobody can explain to me who Satoshi was.
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  The creator of Bitcoin, this mysterious guy who apparently
• 3:10
  died, but nobody knows who he was.
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  You know, I grew up in DC primarily in a government
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  family. So CIA, that's my guess.
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  Can't prove it. But like, you're telling me to
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  invest in something whose founder is like mysterious and
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  has billions of dollars of unused Bitcoin.
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  Like, what is that? And no one can answer the
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  question, including some of the biggest holders of Bitcoin in
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  the world. Do I know personally they're
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  like, oh, it doesn't matter what matters to me, right?
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  Love to see it. Love to see it.
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  All right, well, I, I think the biggest, or of course, Sophie,
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  Sophie's here with us one more time.
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  Well, actually two more couple more times.
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  I don't know when Nico's coming back.
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  I keep feeling like it's Friday and it's only Thursday, which,
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  you know, if you're feeling it too, it's almost over.
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  Yeah, yeah, literally Bitcoin's. Almost over and to be honest I
• 4:00
  have a feeling I will be back on Monday.
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  So, yeah, I think you're I think you're going to be here till
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  Tuesday anyway. Anyways, let's let's unpack what
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  Tucker was saying. Now there is one thing he said
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  that I that I kind of do agree with him is the fact that there
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  there is, you know, privacy concerns when it comes to
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  Bitcoin. So on that point, I'll give him
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  that. Like I will give him that much
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  that obviously this is one of the big topics in Bitcoin.
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  It's been in Bitcoin for a long time, but this FUD from Tucker
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  like the old fund or the new fund is the same as the old
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  fund. Like this is something that
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  bitcoiners have been talking about for a long time.
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  And if this is the the only reason that he's not buying
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  Bitcoin, it's like, bro, come on here.
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  I mean, literally when Satoshi left, most of us Bitcoiners
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  basically attributed to Gavin, one of the lead rather the the
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  head developer at the time that Satoshi kind of passed the lawn
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  to or passed the baton to. He went and did a presentation
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  at the CIA. And that's usually when people
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  say that Satoshi left the project in general.
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  So personally, I, I think this holds no water, but we will kind
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  of unpack some of the stuff that he was saying.
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  Of course, like I said, I do kind of agree with him in terms
• 5:17
  of the privacy aspects of Bitcoin.
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  Yes, we know that that is something that does need to to
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  improve. We want to improve it.
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  It is being improved in real time.
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  But of course a completely auditable transparent Ledger by
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  its nature just isn't, isn't private on you know the
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  fundamental layer, layer one of Bitcoin.
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  So on that one, I will give him that now, I think.
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  But on another note, you know, and neither is any other
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  transaction on earth. I mean, even if you pay for
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  something in cash, you can there is like some traceability to
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  cash because you're going to wonder like where you got it
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  from, where is your bank account?
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  Who gave it to you? Like, you know, you could lie,
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  but you it's still traceable. Yeah, the everything is
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  traceable is what I'm trying to say.
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  And everything can be concealed up until a certain extent.
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  So I don't really buy that as an argument to be honest.
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  Yeah, I mean, obviously like if that if that's the only reason,
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  like, all right, let's let's we'll we'll go boil down just
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  that first conversation. He's like, I'm not going to buy
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  this Bitcoin thing because it's not totally private and
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  literally the only other option is what?
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  You you use a CBDC that is like literally by definition not
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  gonna be private, bro. Like it just doesn't make sense
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  but. I don't.
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  I don't think a lot of bitcoiners have gotten into
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  Bitcoin necessarily because of the privacy per SE.
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  That's just kind of like an added bonus.
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  I think that bitcoiners fundamentally became bitcoiners
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  and bought Bitcoin because our currency is getting debased.
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  And that kind of applies to gold as well.
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  I mean, gold there was recently, like geologists reportedly found
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  one of the largest mines in the world in China, and they're
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  going to continue to find gold. Gold supply goes up around 1.5%
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  every year, but Bitcoin is absolutely finite.
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  So the, again, the scarcity aspect here is something that I
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  don't think Tucker Carlson really understands or grasps.
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  And I give him credit where credit is due for admitting that
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  he doesn't buy anything that he doesn't understand, you know,
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  and I think that that's kind of the signal here.
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  That's the. Fundamental.
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  That's the main signal here. That's the main signal.
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  Like he doesn't understand Bitcoin and a lot of people
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  don't at the beginning and a lot of people, he's going through
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  the motions, right? First, you doubt it.
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  I doubted Bitcoin. I had so many questions and I
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  just couldn't believe that. It kind of just seemed a little
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  too good to be true. And I also just didn't
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  understand it. I didn't understand the
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  necessity for it or the utility. And once you start to go down
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  that rabbit hole, that's when you realize like the privacy
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  aspect. OK, fine, I will if I did
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  conceive that point, it's kind of like a non issue when you
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  realize that you can see everybody's transactions on the
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  blockchain and actually that makes it safer for people to,
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  you know, maybe not get robbed. Whereas with a traditional
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  financial system, you still get robbed and people, you know, the
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  banks have a literal concession in their budget for money
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  laundering. Like they just pay a fine.
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  It's part of their budget. And like, you're going to,
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  you're going to come and criticize Bitcoin for privacy
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  issues. Like I just, it's, it's not
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  really an issue that I am buying here from Tucker.
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  And I think he's a lot smarter than that and there's definitely
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  maybe underlying reasons as to why he said what he said.
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  Yeah, let let's, let's, let's start unpacking some of the
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  other stuff now. The big one that he said was
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  obviously he thinks the CIA created Bitcoin.
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  I, I think we've debunked it. I mean, very simply, like
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  Satoshi most likely left because a very popular developer went
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  and talked to the CIA and did a presentation about Bitcoin.
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  But going to what he actually said, I think there's a lot more
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  signal there than most people realize.
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  He he literally said, my family is part of the government.
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  And if you kind of, you know, if you don't put the right comma in
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  that conversation, he almost basically outed himself.
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  Guys like, I don't know if you know, but his dad was ACIA agent
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  for a long time and he claimed that he only knew after his
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  death. That's that's at least the
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  public narrative here. So hey, the thing to me is if
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  you won, your dad was in the CIA too.
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  You wanted to join the CIA, and apparently you got, you know,
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  they didn't let you do that. Then I think you'd have to come
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  here with a lot stronger evidence and some speculation,
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  like if anyone should. Know if the CIA.
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  Created. I think it should be Tucker.
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  I mean, am I? Am I crazy?
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  He definitely has some feelings about it.
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  Like there I feel like there's trauma there.
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  On his show, he alleges that, like, you know, he found out on
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  his deathbed and it really hit him hard because he didn't know
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  his whole life. I don't know if that's true.
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  But if that is true, like, he must feel like everything is
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  created by the sea. I mean, I would be, like, living
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  my life in such a paranoid delusion if I found out, like,
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  midlife, that my father was in the CIA.
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  That's crazy. Yeah.
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  And I look you, you're being a lot more generous than I am.
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  Obviously, I'm, I'm being maybe a lot more skeptical of, of his
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  understanding of it. And, and I, I am, you know, I am
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  giving him some benefit of the doubt, like I will give him, you
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  know, some leeway. And maybe you could say that he
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  once he found out, he turned against all of that and he never
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  knew. Or maybe he had some epiphany
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  and he realizes that this is, you know, where all the bad
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  stuff in the world come from. Like I'll, I'll, I'll concede to
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  those points that, OK, maybe he had a turn of heart here and now
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  he's trying to do some good. Or, you know, like Sophie was
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  saying when he found out, it maybe was like a shocker to him.
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  And This is why he's kind of gone on this whole arc of
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  exposing the powers that be. Look, I, you know, I can't read
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  his mind. I don't know what's in his
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  heart. But I'm just saying, like the
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  things adding up here, the things we know for sure is his
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  dad was a part of the CIA. He wanted to be a part of the
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  CIA. And now he comes out here with
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  this speculation, this old floodline that, oh, I'm not
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  buying it because Bitcoin was created by the CIA and I, I
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  don't really have any proof to this.
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  And it's like, look, bro, you're one of the biggest podcasters.
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  I think we need a little more than that.
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  I mean, let's explore that, right?
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  Like what if it were created by the CIA?
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  Why would the CIA create a technology that would
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  essentially destroy the dollar? That doesn't make any sense that
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  like it's, it's a direct competitor to the institutional
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  power that it's foundational layer of the United States.
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  It's it's like the biggest leverage that they have.
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  Why would they create that and compromise that?
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  And if they did create it, why wouldn't they be stacking like
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  crazy from the beginning? Why would there be all of these
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  obstacles, and why would they be buying now?
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  It doesn't make any sense. There's more questions to that
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  assertion than answers, in my opinion.
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  Well, I mean, the only favorable, favorable line I
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  could think of, the only, the only thing that makes sense to
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  me of why the CIA would create Bitcoin, whether that means
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  something or not. I, I do, I did bring up a bunch
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  of bitcoiners tweets about it and kind of the, the general
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  consensus here. But my more cynical view of if
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  they did create it, it's like if anyone needs a money that cannot
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  be stopped to do things that, you know, maybe the government
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  doesn't want them to do, it would obviously be the CIA.
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  Like, you know, I'm, I'm not, I'm not even saying anything
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  crazy here. If if you know anything about
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  the CIA in history, they've been caught in doing some things that
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  that are, you know, unfavorable to the the general public pallet
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  so. CIA is a secret whale confirmed?
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  I mean, it could potentially be, it could potentially be.
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  Now, the last one before I bring up a lot of the bitcoiners takes
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  on this, you know, popular bitcoiners tweets on this is his
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  his how we ended that clip, this idea that, oh, because I don't
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  know who the creator of Bitcoin is.
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  I'm not going to buy something, you know, like that's important
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  to me. I I literally, I think you get
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  that so much as a Bitcoiner. You hear a lot of people ask the
• 14:17
  very say that's like Bitcoin one O 1.
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  Like that's the very beginning point that that's literally like
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  the first question that most people ask is like, OK, you
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  know, you should buy some of this Bitcoin thing.
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  And then they're like, OK, that's interesting.
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  Thank you for the the you know, the shell and what your thoughts
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  are. But like who created it?
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  And you're like, we don't know. And they're like, Oh, I don't
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  want to buy this. How how do I want to buy
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  something that I don't know what it is?
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  And it really has all been corners.
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  I've been saying it always kind of goes back to the same
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  arguments, like, do you know who created the wheel?
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  And you still use the wheel? That's still a very, you know,
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  like a a very popular technology that does improve your life and
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  you really don't care who created it.
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  Like, I'm sure at this point you you can pinpoint the, you know,
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  the creators of the Internet. And this is where, you know, it
• 15:00
  does kind of have some parallels to this argument.
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  It's like we all know the Internet was created out of
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  DARPA and yet every single one of us use it and had really
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  don't think about it in this term.
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  I guess maybe because it comes to money is when people start to
• 15:13
  get a little weird about it. And I mean, again, I will give
• 15:16
  him a little bit of leeway here in the the idea that he was
• 15:20
  saying, it's like, I know a lot of young people have invested
• 15:23
  everything into this because, you know, we weren't given much.
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  And we think this is our escape. And he's concerned that this
• 15:29
  might be a scam and we might be get scammed on this and, and
• 15:31
  lose everything and, and really kind of give up more power than
• 15:36
  we are wanting to. I've been saying this on the
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  show for a long time. If Bitcoiners aren't careful, we
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  are in some sense creating a gilded cage here like we if we
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  don't steward the Bitcoin network, you know, correctly and
• 15:51
  in the right way. Excuse me guys, sorry about
• 15:52
  that. We are potentially building
• 15:55
  ourselves, you know, like a panopticon, just total control
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  or rather total trackability of everything we're doing.
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  That is a total concern here for bitcoiners and and for me
• 16:04
  personally. And of course you do go into
• 16:07
  this Bitcoin thing and the longer you're in it, these
• 16:09
  concerns kind of fade away because you've understood the
• 16:12
  the network and you did the work to get there.
• 16:15
  But I think at at a lot of times we all wonder the same thing.
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  Like when when Jerry Fink came into Bitcoin, you guys heard us
• 16:21
  live on the show wondering it's like, wow, are we are we
• 16:24
  actually doing what we say we're doing?
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  Or are we, you know, potentially doing what we think is good.
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  But actually it it's being Co opted here.
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  Like these are things that Bitcoin has talked about.
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  And I'm sure we've we've all had these thoughts recently
• 16:39
  considering hey, the biggest institutions are on our side.
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  And I know I was on the show saying like, look, we have
• 16:45
  nation states, we have Larry Finks of the world.
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  We even have Jamie Dimon starting to say kind of nice
• 16:51
  things about it. It's like, are we actually doing
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  what we say we're doing? And I, I think we all have these
• 16:56
  kind of thoughts every once in a while, Like it does bubble up
• 16:59
  every once in a while. And then you're like, Nah, bro.
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  Like, of course the you know, I'm, I'm, I'm getting lost in
• 17:05
  the, in the, in the black pill here.
• 17:06
  But you know, I, I get it. But I think, like you said,
• 17:10
  Sophie, the real signal to that conversation was 2 1/2 minutes
• 17:16
  into it when he was like, look, I don't understand Bitcoin at
• 17:20
  all. And I don't invest in anything
• 17:22
  that I don't understand. And to me, that's the most
• 17:25
  signal. And Tucker has been very honest
• 17:29
  about his understanding of money and he's said it a lot in the
• 17:32
  past. He's like, I don't understand
• 17:34
  money at all. And then you're just like, OK,
• 17:35
  all right, then really, why are we getting your opinion on this?
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  And then also, I know I literally, I saw some clips
• 17:41
  about this and, and he got really angry.
• 17:43
  Tucker got really mad about this, but Tucker's also very
• 17:47
  wealthy. Like he's a he, he's a deca
• 17:49
  millionaire. At at least that's what the
• 17:51
  rumors are. So I get from his perspective
• 17:55
  why he doesn't really care about it.
• 17:57
  Obviously he's also a gold bug and it's, it's kind of hard to
• 18:00
  change gold bug's mind on Bitcoin versus gold.
• 18:03
  I mean that that Phoenicians line was kind of funny though.
• 18:08
  Eventually they get it. We can, we can only help, but I
• 18:11
  mean, realistically from like a a bitcoiner's perspective or
• 18:16
  from a, you know, Slayer hero's perspective, from a doesn't need
• 18:20
  authority figures perspective. Like it really doesn't matter
• 18:23
  what Tucker says from our side. But again, he's in a room packed
• 18:27
  full of young people and they do listen to what he says and he's
• 18:31
  like, I'm not buying this. So I'm guessing a lot of people
• 18:35
  that were in that audience are like, cool, you know, you just
• 18:37
  confirmed to me that I probably shouldn't buy this as well.
• 18:40
  And I would argue he's doing, you know, the people listening
• 18:43
  to him a disservice. So I mean, like I, I, if he's
• 18:46
  going to a pint about certain things.
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  And I mean, look, I'm a talking head and I, I talk about things
• 18:51
  that I don't know all the time as well.
• 18:53
  You know, he, I think he should do just the basic research on on
• 18:56
  what it is anyways. He apparently he has.
• 19:00
  Apparently he has done the basic.
• 19:01
  I mean, he talked to Sailor. Yeah, and he's still not
• 19:05
  convinced. I just, I, I think it takes a
• 19:08
  lot of years. You can't just understand
• 19:11
  everything about Bitcoin in one conversation or in two
• 19:15
  conversations. Sometimes it takes years and it
• 19:18
  takes something happening in your personal life, which, you
• 19:22
  know, because of Tucker Carlson being so wealthy and having that
• 19:27
  sort of privilege, like he, he might not ever get it.
• 19:30
  You know, when I was orange peeled, it basically took me
• 19:35
  working in a developing country and seeing how the banks over
• 19:39
  there worked. It literally had to, I had to be
• 19:41
  taken out of the American financial system for me to
• 19:45
  understand how Bitcoin would work globally.
• 19:49
  And then I could understand why it could work in the United
• 19:53
  States and, you know, and in my personal life and how it
• 19:56
  actually effects you more than just financially.
• 20:00
  And actually on another note, you know, taking the the
• 20:03
  financial aspect aside, he's saying.
• 20:07
  You know, and I and I agree that this is like a little bit of a
• 20:11
  stretch, but just follow me for a second.
• 20:14
  Tucker Carlson is a Christian and he believes in the virgin
• 20:19
  birth of Jesus Christ. And I think a lot of the times
• 20:22
  Bitcoiners kind of allege to Bitcoin having this virgin birth
• 20:26
  and why? And that's what makes it so
• 20:29
  different from other cryptocurrencies.
• 20:32
  In fact, the, the the reason that it's so that people trust
• 20:38
  it so much is because there is no central figure.
• 20:42
  The fact that there is no person at the center of Bitcoin, that
• 20:47
  Bitcoin is operated by all of us, it's run by all of us, is
• 20:54
  the feature not a bug. It is like kind of at the center
• 20:58
  of why this stuff works. And I don't think he understands
• 21:01
  that. I think that he believes that,
• 21:04
  you know, finances still have to be very centralized.
• 21:06
  That is to be governed by some institutions.
• 21:09
  He hasn't realized yet that because those those important
• 21:15
  things in our lives are run by an institution that it doesn't
• 21:19
  work anymore. Human beings are fallible, human
• 21:22
  beings are greedy human beings, you know, with something as
• 21:25
  delicate as money that provides so many incentives on the
• 21:28
  day-to-day for human beings. It is not, you know, in our best
• 21:33
  interest to leave this in the hands of human beings.
• 21:36
  So in my opinion, I I think he just has a lot more to learn,
• 21:43
  not just about how Bitcoin works on a financial level, but also
• 21:48
  on a philosophical level. I think he would agree with a
• 21:52
  lot of the things that Bitcoin and Bitcoiners align with
• 21:57
  because he himself aligns with those values.
• 22:02
  Well, I think that really does bring up to the idea of does he
• 22:06
  actually believe everything he says or is he just saying
• 22:09
  because he knows his audience? Well, now, I mean, of course,
• 22:12
  look, I'm being I am being a little cynical.
• 22:15
  I'm being a hater. I am being a hater.
• 22:17
  I'm being a hater. Anyways, let's I'll pull up some
• 22:19
  of the the responses from from bitcoiners.
• 22:22
  Some of them were already mentioned in the chat and and I,
• 22:25
  I didn't want to cover these ones because of course I'm going
• 22:28
  to read these tweets. Here we go.
• 22:30
  Whoa, what's going on here? Is it this one?
• 22:35
  OK, I guess that works. I guess that works all right, we
• 22:39
  got our first one is Jack Mollers and Jack Mollers goes of
• 22:42
  course, from strike and 21 capital only goes.
• 22:45
  If you think knowing who created Bitcoin matters, you don't
• 22:47
  understand it. Bitcoin is open source.
• 22:49
  Nobody has special rights and everyone can verify that it
• 22:52
  doesn't matter who created Bitcoin.
• 22:53
  Bitcoin is neutral technology like math.
• 22:56
  Who invented math, Tucker? OK, if you see what I.
• 22:59
  Mean like, it's like who invented math?
• 23:02
  If one person would have invented math and there would
• 23:05
  have been these, these rules that suddenly that one person
• 23:09
  could change, how difficult would that make your life?
• 23:14
  I mean, they're changing how kids do.
• 23:16
  Math. They did change math.
• 23:17
  Remember, 1 + 1 does not equal 2 anymore.
• 23:19
  Yeah yeah yeah I. Was like, yeah.
• 23:21
  And look at how terrible that was for society.
• 23:24
  So I mean, you know, math has to just be reality.
• 23:27
  And I think, again, Bitcoin aligns itself closer to the
• 23:31
  truth and to reality that, you know, and it does that in such a
• 23:35
  way that it might be difficult for somebody who's lived their
• 23:40
  entire lives in the central financial system.
• 23:44
  You know, it might be difficult for them to understand, as well
• 23:47
  as the fact that he probably benefits from that old financial
• 23:52
  system. So, you know, we got to also ask
• 23:54
  ourselves where his financial incentives are and.
• 23:59
  Yeah, yeah. And and further like we like
• 24:01
  Bitcoiners always say, you know, Bitcoin does have a way of
• 24:04
  exposing incentives and obviously we were speculating
• 24:08
  and and I'm being a little bit cynical about it.
• 24:10
  I don't, I don't know what it is.
• 24:11
  I mean, Sophie, you did bring up like isn't, isn't one of his big
• 24:13
  sponsors like a gold, a gold selling exchange or something
• 24:18
  like that maybe, Or maybe that's just Alex Jones.
• 24:20
  It might just be Alex Jones. I I don't remember now I started
• 24:25
  trying to look it up and I couldn't find anything.
• 24:27
  So that might have just been like, you know, pregnancy brain.
• 24:31
  But I I do kind of remember him talking about gold and like the
• 24:37
  chat can maybe verify. I'm almost sure he has been or
• 24:42
  is sponsored by some sort of gold company.
• 24:46
  So. Yeah, I'm, and honestly, I'm
• 24:47
  not, I'm not even mad for like, like I tell you guys, you know,
• 24:50
  my dad loves gold too. And he's he, he literally is
• 24:53
  only like only caring about Bitcoin basically because I'm a
• 24:56
  bitcoiner and he's just happy to see what I'm doing.
• 24:59
  You know, I mean that I don't have to ask him for money.
• 25:02
  So, you know, I I get it. OK, next one, Next one we got
• 25:05
  over here. We have Marty and this one, I
• 25:08
  think it's probably like the best 1 here and he goes, Tucker
• 25:11
  will come around. When he realized that it doesn't
• 25:13
  matter if the CIA created Bitcoin, even if the CIA did it
• 25:16
  didn't. Anyone is so driven and capable
• 25:18
  can audit the code to determine whether it does what it's
• 25:21
  supposed to do, and that's all that matters.
• 25:24
  Oh, my bad. My bad, guys.
• 25:27
  Yeah, so I just read it. But it goes on further and he
• 25:29
  goes, the most compelling part of Bitcoin value prop is its
• 25:32
  simplicity. There's nowhere for the CIA to
• 25:35
  hide in Bitcoins code base. It's too simple.
• 25:37
  And then the last one, this is what I love.
• 25:39
  The last one he goes, even if the CIA did create Bitcoin,
• 25:42
  that's way more based in Red Bell than I ever could have
• 25:45
  imagined, which is kind of what Sophie was saying earlier.
• 25:48
  It's like if they did create it, it kind of goes against
• 25:50
  everything that they kind of believe.
• 25:52
  Obviously, I would argue that most people in the government
• 25:56
  are Keynesians and to like pick on a fringe kind of like
• 25:59
  Austrian economic technology that is hard capped.
• 26:03
  It really does run counter to what they're they're kind of
• 26:07
  fundamental beliefs are. The last one is Gary Cordone.
• 26:12
  Again, I'm I'm not the biggest fan of Gary Cardone, but he is a
• 26:15
  recent Bitcoin convert and he goes guys, let's review Tucker's
• 26:19
  own words. He has stated on numerous of his
• 26:22
  shows I know nothing about money.
• 26:23
  I'm horrible with it and I'm a bad investor.
• 26:26
  It is completely consistent with his financial intellect that he
• 26:29
  would prefer gold slice silver over Bitcoin and thus his
• 26:32
  response. Don't take advice from people
• 26:34
  who say they don't understand finance, investment or money.
• 26:38
  I I think that's probably like the biggest shot across the bow,
• 26:41
  but. I mean, it's, it's true.
• 26:43
  And I think Tucker himself admitted to that.
• 26:46
  I mean, I don't think there's anything wrong with saying that
• 26:49
  you don't really understand finances, especially when
• 26:52
  they've been taken care of your entire life.
• 26:56
  You like that's fair. You know, at least he admitted
• 27:01
  it. At least he admitted it.
• 27:02
  He was asked the question. I think he answered honestly.
• 27:06
  Obviously it's not the answer that we would have wanted as
• 27:09
  Bitcoiners, but I think he answered pretty honestly.
• 27:13
  And and anybody who can read between the lines can make a
• 27:16
  decision for themselves as to whether they want to listen to
• 27:20
  someone who doesn't know about finances, admittedly, and is
• 27:23
  also probably sponsored by Big Gold.
• 27:27
  Big gold. I love big gold.
• 27:30
  That means funny to me. Big gold.
• 27:32
  OK, so I guess I guess at this point, Sophie, we should just
• 27:36
  ask ourselves, do you think CIA created Bitcoin?
• 27:40
  Nah, I mean, even if they did, like, I, I'm, I'm kind of
• 27:47
  agreeing with Marty on this one. Like even if they did, the code
• 27:50
  is completely auditable. It's completely open source.
• 27:53
  I mean, I'm I don't have the skills to fully check it, but
• 27:58
  it's BeenVerified. It's been checked a lot.
• 28:01
  There's, you know, as far as any one of us knows and even the
• 28:04
  smartest people that are in Bitcoin know there is no back
• 28:07
  doors. So if they did unleash Bitcoin
• 28:11
  to the world, I think that kind of take of his that it might be
• 28:16
  a scam and it might not be what we think it is.
• 28:18
  I don't think it really holds water like we know what it is.
• 28:21
  Even if they did create it, it might just end up, if that does
• 28:25
  come out and the CIA did create Bitcoin, it might just come out
• 28:29
  like what how we view the Internet.
• 28:31
  You know, we all know it came out of DARPA and yet we love the
• 28:33
  Internet and we're not going back into a world without the
• 28:35
  Internet. It it obviously took on a life
• 28:38
  bigger than maybe it again, given that we're we're using
• 28:42
  that assumption as actually real.
• 28:44
  If the CIA created Bitcoin, it might just be the only good
• 28:48
  thing they've done in this. Entire.
• 28:50
  Existence. Kind of kind of bars, kind of
• 28:53
  bars. I, I, I would agree with that.
• 28:55
  I would totally agree with that. But again, and and then really
• 28:58
  like the whole don't know who Satoshi Nakamoto is.
• 29:02
  From our perspective, that's like a feature, not a bug.
• 29:04
  That's that's like the the best part about this when the idea is
• 29:08
  if there is a head to chop off and you know who the person is,
• 29:11
  and maybe maybe, you know, Satoshi isn't the, you know,
• 29:16
  Angel that we all think he is, as some of the kind of
• 29:19
  conspiracy theories are on who Satoshi actually is.
• 29:24
  A lot of people that it points to you, they're not, you know,
• 29:27
  necessarily the best people in the world.
• 29:29
  And so by us not having a figurehead, This is why Bitcoin
• 29:33
  has been taken on by a grassroots movement because
• 29:36
  there's no one to take down. There's no kind of person to
• 29:39
  look at and be like, he's responsible for this.
• 29:41
  Look, he's a bad guy. You probably shouldn't be buying
• 29:43
  this thing, but that's the whole beauty of it.
• 29:46
  That's the whole beauty of the, you know, Sudanese name of
• 29:50
  Satoshi Nakamoto. We don't know who created it.
• 29:52
  All we can really look at is judging the man by by the code,
• 29:56
  by what you know, his ideas, as the meme goes, you know, an idea
• 30:00
  whose time has come and all that good stuff.
• 30:02
  So from just looking at Bitcoin and what is accomplished, even
• 30:07
  if he did like Marty was saying, I don't think it really matters
• 30:09
  at this point. But it is interesting that a lot
• 30:11
  of people will look at this and be like, Tucker's right?
• 30:14
  I knew I shouldn't have bought this thing.
• 30:16
  And and on that point, you're like, OK, you know, I'm not
• 30:19
  going to make it. Have fun staying poor.
• 30:21
  I love how you had to add that line about it.
• 30:23
  I buy gold and I've been extremely vindicated.
• 30:27
  Like, all right, bro. Like we'll see in a couple of
• 30:30
  months. I hope I still believe in the
• 30:33
  bull run this year guys. Yeah, he's vindicated.
• 30:37
  What took him 20 years, But hey, finally vindicated.
• 30:41
  But no, I mean, I I am being a little cynical on on Tucker
• 30:45
  right now and and our boy, our reigning our reigning cash maxi
• 30:50
  in on Rumble. He's like Opti.
• 30:52
  If Tucker said something nice about him, you'd be kissing his
• 30:54
  feet. Yeah, I probably would be.
• 30:56
  But he's not saying nice things about Bitcoin.
• 30:58
  So in, in fact, he's actually hurting the people that are
• 31:02
  young and disenfranchised, the very people he's supposed to
• 31:04
  care about. He's telling them not to get
• 31:08
  into it. And, and maybe he didn't
• 31:09
  actually say, you know, don't do that.
• 31:12
  He's just saying, hey, this is what I'm doing and this is what
• 31:14
  I'm going to do. But a lot of people do take what
• 31:17
  Tucker says seriously. And if you are at that turning
• 31:22
  point conference, I'm guessing for the most part, you're a
• 31:25
  young person and you are wanting some kind of change here.
• 31:28
  And again, I, I think he's doing all the people there a
• 31:31
  disservice. I would love to see them go
• 31:33
  full, full bore Bitcoin Maxi shilling Bitcoin.
• 31:38
  That would be great. I you know, they get a whole new
• 31:40
  round of people that that are enthused about changing things.
• 31:46
  Bitcoin is where they should be. That's like my take on this.
• 31:49
  Whether you're on the left or the right, it doesn't matter.
• 31:51
  Like if you really don't like what you're looking at in the
• 31:54
  current system, then Bitcoin is where you need to be.
• 31:57
  As we always say, fix the money, fix the world.
• 31:59
  Anyways, I, I think we've gone. Is there anything, anything more
• 32:03
  you want to say so far? I think we hit this.
• 32:05
  No, yeah, we we pretty much hit all the all the angles.
• 32:09
  OK. All right, guys.
• 32:10
  Of course, I do want to remind you guys to smash the like
• 32:13
  button comment on the show, let let us know what you think about
• 32:18
  the show. And I see some new people or
• 32:20
  haven't been back in a minute. They're like, I love the studio.
• 32:22
  Thank you. And and also we did start a
• 32:24
  little late because we were fixing the lights here.
• 32:26
  We had our light technician in here today.
• 32:28
  So as you can tell, no more shadows.
• 32:30
  We're trying to get the the lights and everything perfect
• 32:33
  for you guys. And of course, subscribe to the
• 32:36
  channel. We're dropping the most, most
• 32:37
  content. And what Sophie said you're
• 32:39
  getting you're you're dropping a new one.
• 32:41
  Is that tonight or tomorrow? That will be today at 4:00 PM,
• 32:44
  so look out for that. Let's go all right, guys, And of
• 32:47
  course I got a jam packed show for you guys.
• 32:50
  So we got a we got a new clip from Brian Armstrong and it is
• 32:55
  around the market structure. Bill, it was it's all the rage.
• 32:58
  There was a big meeting that some quote, you know, crypto, CE
• 33:03
  OS, influential people in crypto.
• 33:05
  And again, I'm using crypto 'cause they're not necessarily
• 33:08
  bit corners. They are talk or we're talking
• 33:11
  at the Hill yesterday and we got this clip coming out.
• 33:15
  And I think there's an interesting Freudian slip here,
• 33:18
  which which I'm probably going to break down.
• 33:20
  And then a lot of people are worried about, you know, Trump
• 33:23
  talking later today. But last night he did do some
• 33:26
  interesting things. We'll break all that down.
• 33:29
  He actually pardoned someone and then guys doubling down on my,
• 33:35
  you know, video. I forget when it was, was it
• 33:37
  yesterday? No.
• 33:38
  Yeah, yesterday. Bitcoin mag is is is finally
• 33:42
  picking up on the the Wall Street attack of Bitcoin.
• 33:45
  So we're gonna we're gonna rehash some things here.
• 33:48
  And of course, shout out to our partner over at Bitcoin.
• 33:51
  Well, we absolutely love these guys.
• 33:54
  They are the GOAT. Shouts out to Adam over there.
• 33:58
  If you want to buy Bitcoin, if you don't care what Tucker
• 34:01
  Carlson said and you're sitting on the sidelines and you're new
• 34:05
  and you're like, yeah, I, I really don't care.
• 34:07
  I need to buy some Bitcoin. Make sure you go to
• 34:09
  bitcoinwell.com/simply and get some real Bitcoin.
• 34:13
  And I, I kind of hate using the real Bitcoin term, but, and if
• 34:17
  you don't take that Bitcoin into custody, then you don't know you
• 34:19
  have real Bitcoin. And This is why we love them
• 34:21
  because when your money goes through, they send Bitcoin
• 34:23
  directly to your cold storage. They have never lost Bitcoin.
• 34:26
  They will never lose Bitcoin because they never hold your
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  Bitcoin. You do need a Bitcoin wallet to
• 34:30
  sign up because you got to put your address there and they will
• 34:33
  send you Bitcoin directly into your cold storage so that you
• 34:37
  can secure it, which is something we always talk about
• 34:39
  here on the show. It's not enough to just buy
• 34:41
  Bitcoin. You need to secure that Bitcoin,
• 34:44
  take it off the exchanges and Bitcoin well makes that
• 34:47
  literally by default. They're the only self custody by
• 34:51
  default platform out there. And This is why we love the guys
• 34:54
  over at Bitcoin. Well, when you sign up, you get
• 34:57
  three chances to win a million sets, which is, I don't know,
• 35:00
  $1080 today since we got wrecked.
• 35:04
  Anyways, let's keep it moving. We'll be right back after this
• 35:06
  break. I want to give a shout out to
• 35:15
  our partner Stamp Seed. Is your Bitcoin and cold storage
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  Titanium plates are strong. Your words are actually stamped
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  into the titanium plate with this hammer and these letter
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  stamping tools. Once the words are in, they
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  and use promo code simply to get 15% off anything on the Stamp
• 36:21
  se-ed.com store. Oh, sorry Ron, you're you're
• 36:29
  that was that's a good comment in the chat.
• 36:31
  Anyways guys, the current Bitcoin price is $110,240 that
• 36:35
  is a -12.6% decline from all time high.
• 36:38
  The market cap is back to a $2.20 trillion and the current
• 36:43
  block height is 920,000 and 420 six 920,426, so 920426 the
• 36:52
  current block height or the only real time in the world which is
• 36:57
  the Bitcoin block hype. Anyways, as I was telling you
• 37:00
  guys, so there was a huge meeting last night.
• 37:04
  A lot of people were talking about it.
• 37:06
  I know David Sachs was there, Brian Armstrong and there was
• 37:09
  also like a Fed conference was that Tuesday.
• 37:12
  So you can see that politicians and institutions, they are
• 37:16
  seemingly now taking Bitcoin seriously.
• 37:19
  It's almost like they have to take it seriously.
• 37:21
  And this clip was on, I believe it's CNBC this morning.
• 37:25
  And it was Brian Armstrong talking about when this market
• 37:29
  structure will potentially be law, or at least, you know, they
• 37:33
  can vote on it. But I find the end I was
• 37:37
  laughing at at the end of this clip, obviously the first part
• 37:41
  of the clip. Let me let me not ruin it and
• 37:43
  then and then I'll talk about it.
• 37:44
  So I'll be right back. Yeah, well, we had great
• 37:47
  meetings with the Democrats on in the Senate and on the
• 37:50
  Republican side today. And the good news is that
• 37:53
  there's strong bipartisan support and will to get this
• 37:55
  market structure legislation done.
• 37:57
  It's important for America. And then the 50 million
• 37:59
  Americans who've used crypto want to see it get done.
• 38:01
  And so one date we heard floated was let's try to get this markup
• 38:05
  done before Thanksgiving. I think that there's 90% of the
• 38:09
  issues are already aligned on and agreed and there's draft
• 38:12
  text going back and forth, a lot of great cross functional
• 38:15
  collaboration happening. That last 10% are the remaining
• 38:19
  issues and everyone committed to get in the room together and
• 38:21
  work it out and hopefully we'll see some draft text.
• 38:24
  All right, get it out. OK, OK, so first of all, again,
• 38:30
  being less cynical, maybe I'm just I'm feeling like cynical
• 38:32
  Fields today, Sophie, maybe I'm just being very cynical today.
• 38:36
  But taking what he said on the surface level, the first thing
• 38:40
  he said, which is something that we have been talking about here
• 38:43
  on the show for a long time, is that for a while it did seem
• 38:47
  like Bitcoin was being made partisan.
• 38:49
  Obviously there's been a lot of headlines essentially calling
• 38:52
  it, you know, crypto and MAGA and then kind of framing Bitcoin
• 38:57
  or crypto as like a Republican thing.
• 39:01
  And we were, you know, obviously we came out very pro Trump and,
• 39:07
  and RFK Junior and of course RFK Junior did join the Trump
• 39:10
  administration. And we were like, yo, you know,
• 39:13
  single issue voter here. Well, more Nico, unless me.
• 39:17
  But hey, the Republicans are, you know, going full force.
• 39:20
  They're embracing Bitcoin. That's probably who you should
• 39:22
  vote if you're a Bitcoiner. But we also noticed a very kind
• 39:26
  of dangerous trend where a lot of headlines were essentially
• 39:30
  kind of making out or or making Bitcoin a bad thing because it's
• 39:34
  a Republican. You know, Republicans are
• 39:36
  favoring it. And we're like, this is a very
• 39:38
  dangerous line to be walking, especially as Bitcoiners,
• 39:42
  because who knows what's going to happen, you know, in three
• 39:44
  years from now if the Democrats we get back and party and we all
• 39:47
  know what happened under the Biden administration.
• 39:50
  They, they actively attacked our industry.
• 39:52
  They, they try to essentially destroy the industry Operation
• 39:56
  Choke, .2 point O, etcetera, which we will have another story
• 40:00
  that does kind of continue that that conversation.
• 40:05
  But we were saying hey. This is about everyone.
• 40:08
  Everyone needs a better money. And it is, you know, it's a bad
• 40:12
  look for the Democrats not to embrace Bitcoin.
• 40:14
  So the, the on the surface level stuff of what Brian Armstrong
• 40:18
  was saying, of course, CEO Coinbase of hey, this is not a
• 40:22
  partisan thing. The Democrats and the
• 40:24
  Republicans have come together and agree on 90% of things.
• 40:28
  It is going to be interesting to see what that 10% disagreement
• 40:31
  isn't about, or rather 10% disagreement is about.
• 40:35
  I'm sure, I'm sure it's not not going to be pretty and there's
• 40:38
  we're we're going to have things to talk about.
• 40:41
  But the part to me that I find the most interesting of this
• 40:44
  clip, which just goes to show Brian Armstrong isn't a
• 40:46
  politician. It almost seems like a Freudian
• 40:49
  slip here. First, again, giving it on the
• 40:52
  surface some some leeway here. He said we might be getting a
• 40:55
  market structure bill or he hopes we're going to get a
• 40:57
  market structure bill by Thanksgiving, which is what
• 41:00
  about a month away? Seems seems kind of like a
• 41:03
  little fast timeline here. But I, again, I keep saying the
• 41:08
  same thing, as much as I am OK with politicians embracing
• 41:12
  Bitcoin and trying to get some kind of regulatory rules of the
• 41:17
  road as they keep framing it, I'm not holding my breath.
• 41:21
  I'm I'm I always, I always kind of default to it's probably
• 41:24
  going to do more damage than good.
• 41:26
  But the last part of that clip I think is the funniest part,
• 41:29
  which again, you know, he's not a politician.
• 41:31
  It might be a Freudian slip. He's like, we're going to get
• 41:34
  the market structure bill by Thanksgiving and then 20 seconds
• 41:38
  later he's like, yeah, we'll we'll probably get something
• 41:42
  that we can, you know, vote on and you're like, OK, so like,
• 41:45
  which one is it? Are we going to get it passed by
• 41:48
  Thanksgiving or we just going to finally see something
• 41:51
  materialize here? So again, being on the surface
• 41:54
  here and kind of just taking its words by what he said, it looks
• 41:58
  like the market structure bill is a a huge push for, you know,
• 42:03
  Washington, DC right now, which is basically what the Trump
• 42:07
  administration has been saying. Again, we've been kind of
• 42:10
  covering that. There hasn't really been much
• 42:12
  meat on that bone. It's been just more rhetoric.
• 42:15
  It's been more words than than things being, you know, actually
• 42:18
  pushed through that benefits all of us bitcoiners.
• 42:21
  So hopefully, again, being hopeful on one hand, like
• 42:25
  hopefully some good comes out of this, but from the end of that
• 42:29
  clip, it sounds like we might see something by Thanksgiving.
• 42:33
  I don't know if it's actually going to get pushed through by
• 42:37
  Thanksgiving. Did he?
• 42:38
  Say, but did he say this Thanksgiving or was he specific
• 42:43
  because it could be next Thanksgiving?
• 42:46
  I don't know. Yeah.
• 42:47
  Washington is slow, usually. Yeah, Yeah.
• 42:53
  That's that's a good. Take and also do we even need
• 42:57
  this bill? Like what is this bill actually?
• 43:02
  That's the whole thing. That's the whole thing.
• 43:04
  Do we really need this? Like, are we really?
• 43:08
  I don't know. I feel like this is more of a
• 43:10
  sell the news thing where people are saying like we're doing
• 43:15
  things, but are we really doing things?
• 43:17
  I just don't. I don't know.
• 43:20
  Yeah, I mean, that's what I, that's literally what I've been
• 43:23
  saying for a while. Thanksgiving 2140.
• 43:27
  Yeah, the the Thanksgiving when the when the last Satoshi is
• 43:33
  released. But no, yeah, Sophie, that's,
• 43:36
  that's kind of what I've been saying for a while.
• 43:37
  Like I really do like the rhetoric.
• 43:41
  Obviously it's it's a 180 pivot from the last administration.
• 43:47
  They're at least starting to say some favorable things.
• 43:50
  But at this point where you know what, 10 months in almost 11
• 43:54
  months into the first year of the Trump presidency, Trump
• 43:58
  presidency and like we haven't really seen too much come out of
• 44:04
  it. And again, the midterm election
• 44:07
  cycles are coming very quickly and I have a feeling that the
• 44:12
  Bitcoin kind of promises, the major ones are just going to
• 44:18
  kind of fall by the wayside while more people kind of pivot
• 44:22
  to campaigning to get re elected.
• 44:25
  So it's like the the time is ticking.
• 44:27
  What? What promises were those
• 44:29
  exactly? Because I mean he did get rid of
• 44:31
  choke .2 point O he did. He did free Ross.
• 44:36
  What other promises are there really left to keep?
• 44:38
  I mean, the promises that that and I don't these were not
• 44:41
  promises, but the things that I would like to see personally
• 44:44
  like if we're gonna if we're all gonna get together in Washington
• 44:48
  and we're gonna start, you know, doing things and wasting
• 44:50
  people's time. I would like to see no capital
• 44:53
  gains on Bitcoin period. I would like to see.
• 44:57
  Well, you did bring it up. He has said that in the past.
• 45:00
  He has said that in the past, but where?
• 45:03
  Like where's the work there? I I don't I.
• 45:07
  Don't think there's a bill on the horizon that, you know,
• 45:11
  would ever pass the House. I mean, much less the, you know,
• 45:17
  the, the, the Democrats really where, where they say that
• 45:22
  they're not going to do capital gains on Bitcoin.
• 45:25
  I mean, I just don't I don't see that ever happening.
• 45:28
  I would like to see the country embrace Bitcoin as, you know,
• 45:34
  currency. I would like to see the changes
• 45:38
  that they have made in El Salvador be implemented in the
• 45:41
  United States when it comes to Bitcoin.
• 45:44
  And you know that like that's kind of what I want to see.
• 45:47
  If that's in the bill, cool, great.
• 45:49
  I can't wait for them to get it passed, whether it's this
• 45:52
  Thanksgiving, next Thanksgiving, take your time.
• 45:54
  Just get that passed because that's going to be generational
• 45:58
  impact that we see. But if not, then what are we
• 46:03
  doing here? What are we doing in Washington?
• 46:07
  Yeah, I just don't understand. Can you explain it to me Opti?
• 46:10
  I mean, I'm talking about what? Other What other promises were
• 46:14
  allegedly made here? Because I don't understand.
• 46:17
  I, I mean, I'm with you, I'm with you on the majority of
• 46:20
  that. I think the the other promise
• 46:22
  that bitcoiners, and maybe they were, we were reading into this,
• 46:26
  but the other kind of idea was the strategic Bitcoin reserve
• 46:29
  that they would buy Bitcoin. It turns out this whole budget
• 46:33
  neutral way, it seems like the only way they're changing
• 46:36
  Bitcoin is by taking your Bitcoin.
• 46:39
  It's not the only way that they could do it.
• 46:42
  They could. Yeah, that's the whole thing.
• 46:43
  It's not the only way they could do it, but that's the only way
• 46:46
  they've been. I mean, it's not.
• 46:47
  What I mean is like it's not the only budget neutral way that
• 46:50
  they could do it. They could start accepting for
• 46:52
  example. Not that I would want this, but
• 46:55
  it is a budget neutral way to SAC is, you know, accepting
• 47:01
  taxes in Bitcoin to accept, you know, payment for government.
• 47:09
  No 'cause that would come from our taxes, but that would be a
• 47:12
  big one. Just being able to pay for your
• 47:16
  taxes with Bitcoin, whether that be income tax or like your, you
• 47:22
  know, capital gains on other things, that's budget neutral.
• 47:27
  Yeah, I think the main one is the SBR for a lot of people that
• 47:33
  they were, you know, on the verge or or rather very serious
• 47:38
  about acquiring a million Bitcoin.
• 47:40
  You know, the Senator Lemons Bitcoin Act, acquiring a million
• 47:43
  Bitcoin, which it sounded like buy a million Bitcoin,
• 47:46
  essentially buy 200K Bitcoin a year for four or five years,
• 47:50
  hold it for long term. And part of that bill was this
• 47:53
  idea of re evaluating their gold, which actually we did hear
• 47:58
  some interesting stuff. I wasn't really going to bring
• 48:01
  it up today, but Scott Besson, I believe it was last night or
• 48:04
  maybe it was this morning. He essentially said, like since
• 48:08
  gold's been pumping so much, like we're in a very good
• 48:10
  position right now, which is leaving a lot of people to
• 48:13
  believe that they might actually, you know, consider re
• 48:16
  evaluating their gold. And who knows what they're going
• 48:18
  to do with that. Of course, Senator Lummis has
• 48:20
  been saying for a while that re evaluate in their gold and, you
• 48:25
  know, selling it or just, you know, creating more dollars to
• 48:28
  buy Bitcoin off of that as collateral.
• 48:31
  It's something that they've been talking about been floating.
• 48:33
  But I'm with Sophie, the main thing is treat Bitcoin as money
• 48:36
  and then of course, you know, not attack our industry
• 48:39
  essentially just like get out of our way for a little bit.
• 48:42
  I know that's hard to kind of ask of a government, but I think
• 48:46
  those are probably the main thing anyways.
• 48:47
  I do want to, you know, play a commercial break here because
• 48:51
  we're going to continue this conversation in a minute.
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  Love it, love it. OK, we.
• 51:56
  Just we just came back to Zen. Honestly, I'm pretty zoned out,
• 52:00
  guys. Let me know in the chat is, is
• 52:02
  the audio cutting out or are we lagging or something like that?
• 52:05
  I don't know. The internet's been having some
• 52:07
  trouble over here. So hopefully we're coming
• 52:09
  through right now, but let me know.
• 52:11
  Let me know in the chat as I as I keep it moving.
• 52:13
  All right, guys. So as I was telling you, we're
• 52:16
  going to continue this conversation about the Trump
• 52:19
  administration and how serious they are around, you know,
• 52:24
  embracing Bitcoin and OK, OK, it looks like we're we're OK.
• 52:33
  Yeah, we're good. OK.
• 52:34
  All right, guys. Thank.
• 52:35
  You the mean the mean tweets are back.
• 52:37
  The mean tweets are back. It say audio is cutting out.
• 52:40
  Is it cutting out for most people?
• 52:42
  If if it's cutting out for you, maybe you need to you cutting
• 52:45
  out. Am I cutting?
• 52:47
  Out are we cutting out all right anyways, I'm just going to keep
• 52:49
  it running I'm just going to all right someone says good for me
• 52:51
  so we're we're doing it for you bro OK so again the conversation
• 52:58
  that we're having or kind of been having is this idea like
• 53:02
  how serious is the trump administration about you know
• 53:05
  the quote Bitcoin superpower of the world being America.
• 53:08
  We did get an interesting news last night.
• 53:10
  I know a lot of you Bitcoiners might not be that happy about
• 53:13
  it, but I think you you can kind of take this news two ways here.
• 53:17
  So let me just cover it first. Oops, wrong 1.
• 53:21
  You can see here I'm on Wall Street Journal I, I, I don't
• 53:24
  actually I didn't I don't have the full article here, so I'm
• 53:26
  going to have to use article that does read this, but you can
• 53:30
  see the Wall Street Journal headline Trump pardons convicted
• 53:33
  Binance founder pardon follows months of effort by Chang Pang
• 53:37
  Zhao or CZ from Binance to boost Trump crypto company.
• 53:41
  Again, you can see the Wall Street Journal's bent on a
• 53:44
  Bitcoin and of course the Trump administration and you guys can
• 53:47
  see I can't I can't actually read this because I don't have
• 53:49
  Wall Street Journal. So I'm coming over here to
• 53:51
  thestreet.com, which does reference the Wall Street
• 53:55
  Journal article. So Trump reportedly pardons
• 53:58
  finance founder CZ the reported pardon and it has been kind of
• 54:02
  confirmed by multiple news sources.
• 54:05
  We I was looking for it on true social.
• 54:07
  I, I couldn't find actual Trump true social nor could I find the
• 54:11
  executive order come out on the official White House website.
• 54:14
  But apparently verified by multiple news sources that he
• 54:20
  was pardoned. So the reported pardon on
• 54:22
  Binance founder marks one of the most consequential intersections
• 54:26
  yet between US politics and crypto.
• 54:28
  U.S. President of course, Donald
• 54:30
  Trump reportedly pardoned Binance, According to Wall
• 54:33
  Street Journal. The decision would mark a
• 54:35
  stunning political comeback for one of the most recognizable
• 54:38
  figures in global crypto and a signal that the new Trump
• 54:41
  administration may be taking a sharply different approach to
• 54:43
  digital asset regulation. The report says The decision
• 54:47
  follows months of private outreach between CZ and Trump's
• 54:50
  in a circle, including efforts by the Binance founder to
• 54:53
  support the Trump family's own crypto venture.
• 54:57
  Quote, President Trump exercised his constitutional authority by
• 55:00
  issuing A pardon for Mr. Zhao, AKA CZ, who was prosecuted by
• 55:05
  the Biden administration in their war on cryptocurrency,
• 55:08
  White House press secretary Caroline Levitt told the
• 55:11
  Journal. The Biden administration's war
• 55:14
  on crypto is over. And then of course, they tried
• 55:18
  to reach out to CZ. No response yet.
• 55:20
  CZ hasn't tweeted anything about it, but apparently he did get
• 55:25
  pardoned. I saw Arthur Hayes tweet this
• 55:27
  morning, welcome to the club because he also got pardoned.
• 55:31
  So again, the first take on this is from like the Bitcoin of
• 55:35
  perspective. You know, finance is one of the
• 55:38
  biggest shit coin casinos in the world, though it is it does have
• 55:41
  the most liquidity and volume in regards to Bitcoin itself.
• 55:44
  And so it it you could argue it's one of the biggest Bitcoin
• 55:46
  exchanges, though they do have, you know, the shit coin gambling
• 55:49
  on the side. But it does I I would kind of
• 55:53
  agree with the Wall Street Journal point on this like it
• 55:56
  does or rather the quote from the Wall Street Journal that it
• 55:59
  does seem like they are very serious about ending the quote
• 56:01
  Operation Choke .2 point O and the Biden administration's war
• 56:05
  on Bitcoin. And on that that front, you kind
• 56:08
  of you kind of like we were talking about like what have
• 56:11
  they actually done? Well, you know, they pardon
• 56:13
  Ross, they pardon Arthur Hayes now they pardon CZ obviously
• 56:18
  from like a what have you done for me personally lately?
• 56:24
  Yeah, that doesn't really do. Anything of the way, one day you
• 56:27
  fight with China, the other day you don't.
• 56:30
  It's a freaking roller coaster for us.
• 56:33
  But you know what? Again, we pride ourselves on the
• 56:37
  value that we are huddlers and guess what?
• 56:42
  We're huddling. We're huddling through the
• 56:44
  storm. Yeah, so like and and seriously,
• 56:47
  like you guys might say it sounds selfish, but and me and
• 56:51
  Nico have had the me and Nico have had this argument all the
• 56:54
  time. It's like, bro, is the Trump
• 56:56
  administration actually doing anything?
• 56:58
  And he's like, bro, we got Ross pard.
• 57:00
  And I'm like, yeah, dude, like, and it's going to be this going
• 57:02
  to sound horrible. I know I'm probably going to get
• 57:04
  clipped and and quoted out of contacts and I'm like, yeah,
• 57:08
  that's, that's awesome. I'm super glad to see Ross free.
• 57:11
  Like, you know, one of the OG bitcoiners love, love it.
• 57:15
  Like I absolutely love it. But from my perspective, like,
• 57:20
  what does this do for me? Look, I'm being selfish.
• 57:24
  I know, I know. I'll tell you what this does for
• 57:26
  you. I'll tell you what this does for
• 57:28
  you. This sets a precedent so that
• 57:32
  when we are able to enjoy our gains, the government will less
• 57:37
  likely come for you next. I honestly OK for you, you know,
• 57:43
  Nico. Nico couldn't couldn't elaborate
• 57:45
  on that so. The problem is that we take life
• 57:49
  for granted. We take our freedom for granted.
• 57:52
  We take being in this country for granted.
• 57:54
  And we don't really actually know what it is to be the man in
• 57:59
  the arena in that sense of running an exchange, running a
• 58:03
  website, running something that everybody is going to hate you
• 58:07
  for. And that that is why what what
• 58:13
  they're doing is so important. Like, yes, is it a shit coin
• 58:17
  casino? Absolutely.
• 58:19
  But does this set a precedent that, you know, we are going to
• 58:25
  be able to move forward from this without being persecuted by
• 58:31
  the government, without the threat of being put in a box?
• 58:35
  Also, yes. And that's really important.
• 58:38
  That actually might be more important than the price because
• 58:41
  the price over the long term is probably going to go up anyway.
• 58:46
  So that part is secure. Like we just have to be patient.
• 58:49
  We have to like, stop being so greedy.
• 58:51
  Even though I am the first one to tell you I need the price to
• 58:55
  go up because I want furniture and fancy things.
• 59:01
  However, my longing for furniture and fancy things does
• 59:05
  not top my longing to live calmly in the world and not have
• 59:12
  to look over my shoulder and not feel like the government is
• 59:15
  always going to be constantly after me.
• 59:17
  So this is actually so much bigger than you know, the
• 59:21
  ideology of being a Bitcoin maxi.
• 59:23
  It's so much bigger than number go up.
• 59:26
  If this means that we can all breathe a little bit easier
• 59:31
  because we don't have the man against us.
• 59:34
  Yeah. I mean, that's that.
• 59:36
  That was like, that's my more generous take, 100% like more.
• 59:39
  Generous. Yeah, like obviously.
• 59:41
  You're generous. Often, maybe a little bit, maybe
• 59:44
  a little bit. But yeah, I mean that that is my
• 59:46
  whole kind of perspective because as we've heard multiple
• 59:51
  times, the Trump administration and a lot of people obviously in
• 59:56
  the administration are Bitcoiners.
• 59:58
  You know, Howard Leutnik, whether you like him or not,
• 1:00:01
  Cantor Fitzgerald partner with Strike, he's there and he's a
• 1:00:06
  huge Bitcoin bull. You know, the vice president, he
• 1:00:09
  holds Bitcoin, I'm pretty sure. You know, I, I is our our case
• 1:00:14
  still there, I believe, right. He's a Bitcoiner.
• 1:00:16
  I think Tulsi Gabbard spoken at the Bitcoin conference, if I
• 1:00:19
  remember. I think Cash Patel has some
• 1:00:21
  Bitcoin. So like, there's Bitcoin like
• 1:00:24
  again. Baron Trump, Baron Trump's a go
• 1:00:27
  out here. I'm I'm trolling you guys.
• 1:00:29
  I'm totally you guys. I'm I'm trolling, I'm trolling
• 1:00:32
  you guys because you guys got so mad about that the other day.
• 1:00:34
  So I'm, I'm kind of trolling, you know, the Trump children,
• 1:00:37
  they're making Bitcoin ventures and so like to your point.
• 1:00:40
  So I, I totally agree that the ending of Operation Choke .2
• 1:00:45
  Point O, or as they frame it, you know, the Biden
• 1:00:48
  administration's attack of crypto, like ending that it, it
• 1:00:52
  does make you feel like you can breathe a little bit.
• 1:00:54
  It's like, OK, cool, you know, maybe maybe I'm not the biggest
• 1:00:58
  fan of what they're doing day-to-day, but the fact that
• 1:01:02
  they kind of have agreed or rather have publicly stated that
• 1:01:05
  we aren't going to attack you guys because you guys like this
• 1:01:09
  new technology, that does make me feel better.
• 1:01:12
  And I think it does set great precedent for the future.
• 1:01:15
  And hopefully, as Bitcoin kind of goes up in price and it does
• 1:01:21
  get, you know, it does become more of the political landscape
• 1:01:26
  and, of course, of Wall Street, and it does get more integrated
• 1:01:29
  into the system, even though I still believe it's a Trojan
• 1:01:31
  horse. Hopefully, we aren't being
• 1:01:33
  fought anymore. And as we've been saying for a
• 1:01:36
  long time, pretty soon, you know, we, we will get a lot of
• 1:01:40
  people say, you know, Trump's the first Bitcoin president of
• 1:01:42
  the US. But one day soon we will get a
• 1:01:45
  maxi there and that's when the game will change.
• 1:01:48
  That might be when we're like really old or 2140 or something
• 1:01:51
  like that. But hey, you know.
• 1:01:53
  I'm I'm just surprised. Non zero chance.
• 1:01:55
  I am frankly just surprised that President Trump is, you know,
• 1:02:00
  going for all of this. The man is like what, 80 years
• 1:02:04
  old? Oh yeah, let's not forget that
• 1:02:05
  he's, you know, one of the biggest holders of Bitcoin.
• 1:02:08
  Yeah, he's also like a huge whale, but he's also a
• 1:02:11
  representation of like the old world real estate, big money
• 1:02:17
  Americanism. And, you know, he gets it.
• 1:02:22
  He he might not get it all the way.
• 1:02:25
  He might just, you know, kind of see it for his own personal
• 1:02:28
  gain. But it doesn't matter because
• 1:02:31
  his actions are speaking in our favor.
• 1:02:34
  And that's kind of all I can ask for.
• 1:02:36
  Yeah, and and I like, you know, again, I'm biased.
• 1:02:40
  You know, we're, we're biased here.
• 1:02:42
  I'm, I'm an American and I, I believe Bitcoin is a like one of
• 1:02:47
  the best representations of what the American ethos is, you know,
• 1:02:51
  individual sovereignty, property rights, like Bitcoin as, as the
• 1:02:56
  joke goes, you know, Bitcoin is as American as apple pie and I
• 1:03:01
  we didn't create apple pie, but it, it's, that's kind of the
• 1:03:04
  idea. It does instill kind of, excuse
• 1:03:08
  me, the, the American ideals into cyberspace.
• 1:03:11
  And, and This is why we, you know, so ardently came out for
• 1:03:15
  Bitcoin. This is why we're bitcoiners and
• 1:03:17
  then also why we were so like gung ho about, oh, we have a
• 1:03:21
  president that is speaking at the Bitcoin conference, vice
• 1:03:24
  president also, and they're starting to talk about Bitcoin
• 1:03:28
  in a favorable way. And then turns out, you know,
• 1:03:30
  they're tracking a lot of Bitcoin too.
• 1:03:31
  It's like, OK, this is this is not a, you know, an instance of
• 1:03:36
  where Bitcoin is an UN American thing to us.
• 1:03:40
  It's like the most American thing.
• 1:03:42
  Again, property rights, individual sovereignty.
• 1:03:45
  So, you know, something that you cannot debase, which is not
• 1:03:47
  necessarily in the Constitution per SE, but it does tell you
• 1:03:53
  that the only legal tender should be, you know, precious
• 1:03:55
  metal coinage, which was hard money.
• 1:03:57
  So I think if we've learned something from the past is
• 1:04:00
  printing your own money does bring the downfall of your
• 1:04:03
  empire. And This is why, as bitcoins are
• 1:04:05
  like it, it makes a no brainer to us.
• 1:04:07
  Wow. So, So what you're saying is
• 1:04:09
  that cheating the people who live in your, who you govern is
• 1:04:15
  actually going to backfire someday?
• 1:04:17
  I would have never thought you know.
• 1:04:20
  Big but yeah. Anyways.
• 1:04:24
  So he pardoned CZ, though you could again, maybe maybe I'm
• 1:04:31
  just feeling some I'm I'm, I'm feeling cynical today.
• 1:04:34
  OK, I call me cynic fields, all you want, pessimistic fields
• 1:04:37
  today all you want. But one other way to kind of
• 1:04:42
  look at this is, you know, CZ basically, as I said in the
• 1:04:47
  past, made like one of the best trades ever, you know, paid slap
• 1:04:50
  on the wrist, fine, went 4-4 months to jail.
• 1:04:54
  Bitcoin went up. He basically had a fourth haunt.
• 1:04:59
  He's a billionaire for money laundering.
• 1:05:03
  The more kind of it. Wasn't exactly money laundering,
• 1:05:06
  it was for failing to implement money.
• 1:05:08
  Yeah, e-mail money laundering. Into the exchange he.
• 1:05:13
  Himself. Agreed.
• 1:05:14
  Agreed. Agreed.
• 1:05:15
  OK. Thank you for the clarification.
• 1:05:17
  But you know, he it's. Like no, no.
• 1:05:20
  And that's a great clarification.
• 1:05:22
  It's. The government's job to do that?
• 1:05:25
  Yeah, no, great clarification. But it does bring up another
• 1:05:29
  conversation where you could be cynical about it or you could
• 1:05:34
  say maybe this is setting precedent for other stuff, which
• 1:05:37
  is the the case is going on with, of course, Samurai and
• 1:05:41
  Roman Storm, Tornado Cash. So I saw some people basically
• 1:05:45
  saying like, oh, you know, pardon CZ for, you know, not
• 1:05:50
  having good AML money laundering laws.
• 1:05:52
  And yet Roman Storm and the Samurai devs are in jail for
• 1:05:56
  literally the same thing. Like we live in a clown world.
• 1:05:59
  Or maybe. Maybe they're.
• 1:06:01
  Nuts. Yeah, that's, that's what I was
• 1:06:02
  going to say. Maybe this is, you know,
• 1:06:04
  precedent for that to follow. So that's.
• 1:06:06
  Not cynical, that's. Optimistic.
• 1:06:08
  No, I'm saying some people were cynical about it.
• 1:06:11
  Oh, but you know, we're bitcoiners, so we we always
• 1:06:14
  argue about stuff. I think I think the that, you
• 1:06:17
  know, history, his track record has shown that he is very
• 1:06:22
  sympathetic to people who were attacked by the Biden
• 1:06:25
  administration. And this is, you know, I think
• 1:06:29
  this is a good sign actually for samurai.
• 1:06:32
  And we should, we should, you know, take it as that.
• 1:06:38
  Yeah, 100% I would say, you know, hashtag free samurai and,
• 1:06:42
  you know, and Roman Storm just 'cause you're creating software
• 1:06:45
  doesn't necessarily mean you're, you know, you're a criminal here
• 1:06:48
  and you shouldn't be, shouldn't be held accountable for what
• 1:06:50
  people do with that software, as we saw in the first crypt awards
• 1:06:55
  of the 90s. So anyways, let's keep it moving
• 1:06:58
  'cause we are going a little long today and I'm, I'm
• 1:07:01
  rehashing a conversation, guys, from, from yesterday, from a
• 1:07:05
  couple of days. But hey, Bitcoin mag's picking
• 1:07:07
  up on it. So it looks like the signal is
• 1:07:09
  picking up guys. It looks like everyone is
• 1:07:11
  starting to notice where the real attack vectors are.
• 1:07:14
  And I again, you know, be careful what we wish for here.
• 1:07:16
  The institutions are here, we can't stop them, but there is
• 1:07:20
  things that we have to kind of fight against for the next
• 1:07:24
  foreseeable future. So we'll be right back after our
• 1:07:26
  last interview or commercial, sorry.
• 1:07:31
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  freedom. OK guys, before I cover this,
• 1:09:36
  Sophie did just mention and we finally got the tweet from CZ
• 1:09:41
  and he goes deeply grateful for today's pardon and to President
• 1:09:45
  Trump for upholding America's commitment to fairness,
• 1:09:47
  innovation and justice. We'll do everything we can to
• 1:09:50
  help make America the crypto capital.
• 1:09:54
  Boo. An advanced Web 3 worldwide
• 1:09:56
  still in flight. More posts to come onwards.
• 1:09:58
  OK, so it's official A oh wait, I didn't pull it up.
• 1:10:01
  Sorry guys. Completely official here.
• 1:10:04
  As I was telling you guys it was I couldn't, I couldn't find the
• 1:10:11
  official post here. Here, let me let me switch this
• 1:10:15
  up right. Here.
• 1:10:15
  Oh, I sent it to. You yeah, no, I got it.
• 1:10:17
  I just I didn't have it up. So officially confirmed again, I
• 1:10:22
  I got it from a few different confirmations from a news
• 1:10:28
  sources, but CZ finally posted about this I guess right before
• 1:10:32
  we went live or actually right when we went live.
• 1:10:34
  So there we go confirmation anyways for the culture.
• 1:10:37
  I do want to talk about this. A lot of people have been
• 1:10:41
  sitting in the chat. I actually saw someone here.
• 1:10:43
  I saw someone the other days like you know, simply Bitcoin
• 1:10:46
  isn't talking about the core, but it's not debate enough and
• 1:10:49
  I'm I'm unsubscribing. I'm out of here.
• 1:10:51
  And I mean, my take has been same since the beginning one, I,
• 1:10:55
  I don't think this is an existential threat to Bitcoin
• 1:10:59
  Ron, whatever node you want. I was always kind of confused
• 1:11:03
  how this became a binary thing where it's either you run knots
• 1:11:07
  or you update the core 30. And I was like, guys, I, I just
• 1:11:10
  don't update my note. I've been saying that for years.
• 1:11:13
  I, I wait, I literally wait years before I update my note to
• 1:11:17
  the next version because of stuff like this.
• 1:11:20
  So anyways, the reason I say that is because the title here
• 1:11:25
  and and you know, you guys can tune out and be like, oh, it's
• 1:11:27
  written by shinobi, but it goes I love shinobi.
• 1:11:30
  Yeah. I mean, I, I like I like, I like
• 1:11:34
  listening to some of the stuff he says.
• 1:11:36
  I'll I'll say it like that anyways, title here is Wall
• 1:11:40
  Street is big Bitcoin's biggest threat, not arbitrary data,
• 1:11:44
  Hence why I did the kind of you know, core knots PSA here and he
• 1:11:48
  goes the. Biggest.
• 1:11:49
  That's an interesting angle. Yeah.
• 1:11:50
  I mean, I, I'm kind of This is why I'm bringing it out because
• 1:11:53
  this is kind of what, what I believe as well.
• 1:11:55
  The biggest threat to Bitcoin is the concentration of economic
• 1:11:58
  influence created by Wall Street Bitcoin products, which is
• 1:12:01
  something I have been talking about the last week on the show,
• 1:12:05
  you know, through a bunch of different lenses.
• 1:12:09
  If you guys want to see this accord on Bitcoin magazine, I'm
• 1:12:11
  not going to read the whole article, but I will read kind of
• 1:12:15
  the wrap up of this article because I think this is kind of
• 1:12:19
  where the meat and potatoes is. And he goes, centralization is
• 1:12:22
  efficient, but it is poisoned to Bitcoin.
• 1:12:24
  Bitcoin's entire promise is to be an apolitical and neutral
• 1:12:26
  platform for economic activity. It is to be an unshifting and
• 1:12:30
  solid foundation for you to stand surely on, devoid of
• 1:12:33
  concerns that could shift out from under your feet and throw
• 1:12:35
  you into economic chaos. The entire promise of stability
• 1:12:39
  is purely a result of Bitcoin being sufficiently distributed,
• 1:12:43
  IE being composed of independent actors performing their own self
• 1:12:46
  validation of the system and large enough numbers that their
• 1:12:49
  ability of coordinating amongst themselves to change fundamental
• 1:12:52
  properties of the system is either exceedingly difficult or
• 1:12:56
  literally impossible. When the set of economic actors
• 1:12:59
  participating in self self validation collapses in size,
• 1:13:03
  when it turns into fewer and fewer entities operating on
• 1:13:06
  behalf of other stakeholders, that promise of stability and
• 1:13:09
  neutrality collapses and lockstep with it.
• 1:13:12
  Bitcoin must maintain some minimum degree of distribution
• 1:13:15
  of self validating actors that make up a substantial portion of
• 1:13:19
  economic activity, or else the court's promise of stability and
• 1:13:22
  neutrality evaporate. Wall Street isn't going away, so
• 1:13:26
  this is something that we're going to have to confront.
• 1:13:28
  There is no shaming them away or chasing them off.
• 1:13:31
  That is simply not possible in a system like Bitcoin that, at
• 1:13:34
  least for now, is robust in its distribution and
• 1:13:37
  decentralization. This is a war of incentives and
• 1:13:41
  counter incentives. We must create positive
• 1:13:44
  incentives to encourage more direct, self validating use of
• 1:13:47
  Bitcoin rather than legacy financial rappers like ETF and
• 1:13:51
  treasury companies. Or Bitcoin will be confronted
• 1:13:54
  with a fundamental crisis as to whether it's core promise was
• 1:13:57
  ever really possible. I, I couldn't agree with this
• 1:14:01
  more. As I've been telling you guys
• 1:14:03
  for a while, I'm also starting to see this trend.
• 1:14:06
  I don't think the arbitrary data, you know, argument or
• 1:14:11
  debate or, you know, a lot of people were saying it's like the
• 1:14:14
  new block size or I'd, I'd really don't see that.
• 1:14:17
  I, I think it's a lot of people getting hyped up like the price
• 1:14:19
  hasn't been doing anything. And as we all know, and the
• 1:14:22
  price doesn't do anything. Bitcoiners love to attack each
• 1:14:25
  other. That's like the best time for
• 1:14:26
  when the price is stable is when we start attacking each other.
• 1:14:31
  You. Know can I say something?
• 1:14:34
  Let's tie this back to our very first story of today and what
• 1:14:40
  Tucker Carlson was saying. You know the headline is he says
• 1:14:44
  Bitcoin is a scam. But if you really listen to what
• 1:14:47
  he said, he said that it could be Co opted and people who own
• 1:14:51
  it could get scammed. And that's something that he
• 1:14:53
  doesn't want to see. And this isn't me trying to
• 1:14:55
  defend him, OK? I think he has a fundamental
• 1:14:58
  lack of understanding and awareness around Bitcoin.
• 1:15:02
  And again, he himself admits that.
• 1:15:05
  However, this article kind of makes that point for him.
• 1:15:10
  I think that, you know, if Wall Street ends up taking
• 1:15:16
  everybody's Bitcoin and there isn't enough of an incentive for
• 1:15:20
  regular people to use Bitcoin, buy Bitcoin, have, you know, use
• 1:15:26
  it for what it's intended for, which is peer-to-peer, then
• 1:15:29
  could it get taken by these governments and institutions and
• 1:15:34
  could they rug everybody by owning the majority of Bitcoin?
• 1:15:39
  That I think that is something that we do kind of have to be
• 1:15:42
  wary of. Yeah, totally.
• 1:15:45
  That's that's like, that's kind of what I was saying in the
• 1:15:48
  beginning is like as a Bitcoiner, you do think about
• 1:15:52
  that a lot of are we actually doing what, you know, we were
• 1:15:56
  sold on the promises of Bitcoin. Are we actually doing that or
• 1:16:00
  are we building something that is more akin to a gilded cage?
• 1:16:04
  I know a lot of people say, look, like Tucker himself said,
• 1:16:08
  you know, digital currencies terrify me and I and I don't
• 1:16:11
  want to go into a world that is just run by digital currencies.
• 1:16:14
  And I mean, I agree with that point.
• 1:16:17
  If the if that world is just a world built built on CBD CS, I
• 1:16:22
  don't think that Bitcoin is in the same camp.
• 1:16:24
  Yes, it's a digital currency, but you can't actually shut
• 1:16:27
  anyone off from Bitcoin. And so that is I think the
• 1:16:31
  fundamental conversation right now is like, OK, look the
• 1:16:33
  institutions are here and they are trying to, I think at this
• 1:16:38
  point realizing that they can't actually stop Bitcoin.
• 1:16:41
  So if they can't stop the network and and I know a lot of
• 1:16:46
  people are saying like maybe that's what's going on with the
• 1:16:49
  node debate is some kind of infiltration etcetera, etcetera,
• 1:16:53
  make it more so that there's more of an attack vector to
• 1:16:56
  people that run nodes. But what we are seeing, which I
• 1:17:04
  think is another kind of attack vector is the idea of, hey,
• 1:17:08
  we're going to try to incentivize you to give up
• 1:17:11
  control of that Bitcoin. We will be the centralized
• 1:17:14
  controllers or maintainers of that Bitcoin.
• 1:17:17
  Trust us, bro. You know, we're going to offer
• 1:17:19
  you some convenience and you could use it for collateral and
• 1:17:22
  we'll give you some yield on it. And then all that Bitcoin does
• 1:17:26
  get centralized. And as I was saying yesterday,
• 1:17:28
  you know, everyone was asking me like, how long does do you think
• 1:17:31
  this is going to happen for? And I'm like, probably for this
• 1:17:34
  is like the next foreseeable future.
• 1:17:36
  Like this is the next fight is, is not necessarily an outright
• 1:17:40
  fight, but you know, you fighting yourself so that you
• 1:17:43
  don't get called by the siren song and you don't give up
• 1:17:45
  custody of your, of your total holdings.
• 1:17:47
  I could understand for some people, maybe you give like a,
• 1:17:51
  you know, you throw some pennies at it for some use cases or
• 1:17:53
  whatever. But you don't want to give
• 1:17:55
  control of all of your coin over to BlackRock.
• 1:17:58
  Like you don't want to do the in kind of redemption of your hold
• 1:18:00
  holdings so that you can get some kind of benefits from the
• 1:18:03
  financial system because there is greater concerns if they hold
• 1:18:07
  all of the Bitcoin, who knows what can happen potentially
• 1:18:10
  where you just get rug pulled as an individual and you basically
• 1:18:14
  have handed over your control of of your money to these middle
• 1:18:18
  men, which Bitcoin was designed to kind of disintermediate in
• 1:18:21
  the 1st place. So I think that is kind of the
• 1:18:24
  the siren song that we're living through is they are trying to
• 1:18:27
  incentivize us to give up control of our Bitcoin and we
• 1:18:30
  have to fight, you know, fight your own psychology and greed so
• 1:18:34
  that you don't give it up. I, I think that is the fight
• 1:18:36
  right now. So yeah.
• 1:18:39
  Yeah, get yourself a big key and keep your Bitcoin in self
• 1:18:44
  custody. It's the best thing that you
• 1:18:45
  will be doing for yourself and future generations and you know,
• 1:18:50
  keep your keep your seed on something that can't be
• 1:18:53
  destroyed. While you're at it, double plug.
• 1:18:56
  Yeah, as the chat's saying, I like the Battle of Black Rock.
• 1:18:59
  That's that sounds kind of lit. Don't give them your sads, guys.
• 1:19:03
  Hold your Bitcoin in self custody.
• 1:19:05
  Anyways, guys, that's the end of the show for today.
• 1:19:08
  That's all I got for you so. Guys, we have some new merch out
• 1:19:14
  that Opti is modeling and we want you guys to buy it.
• 1:19:20
  Check it out. Check out our website.
• 1:19:22
  Yeah, make Sophie work so she can ship it to you guys.
• 1:19:25
  I hate, I honestly like I shouldn't have said that but
• 1:19:30
  it's a lot of work. I am the person that personally
• 1:19:34
  packages and sends the merch. So yeah, whatever put me to
• 1:19:40
  work, let's do it. Buy lots of merch.
• 1:19:43
  Yeah, buy the swag stack Bitcoin first buy the simply Bitcoin
• 1:19:48
  merch second. Anyways, guys, we love you guys.
• 1:19:51
  We appreciate you guys again, apologies for the late start
• 1:19:55
  today later than usual. We, we did, we did start a
• 1:19:59
  little late, but we were trying to figure out the, you know, the
• 1:20:01
  lighting as you can tell. No, no, no more, no more shadows
• 1:20:05
  everywhere. I look super handsome because,
• 1:20:09
  you know, it's it's only the camera, so it's not in real
• 1:20:11
  life. But yeah, anyways, guys, we'll
• 1:20:14
  be back tomorrow closer to 12:30 than today.
• 1:20:17
  I know you guys sat there for a while and you guys were a little
• 1:20:20
  angry, but we don't we don't have the technician in here
• 1:20:23
  every single day. Anyways, guys, have a good rest
• 1:20:26
  of your day. This has been Opti your host,
• 1:20:28
  and of course the wonderful Internet Sophie as Co host.
• 1:20:32
  We'll be back tomorrow for the last show of the week again, we
• 1:20:35
  go live Monday through Friday, 12:30-ish every day.
• 1:20:41
  All right, later, guys. Bye.
• 1:20:43
  Today's episode was brought to you by bitcoinwell.com, a
• 1:20:47
  Bitcoin only platform on a mission to enable financial
• 1:20:50
  independence.