Latest / Simply Bitcoin / BlackRock $20B Bitcoin ETF Overtakes Grayscale | EP 1000

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BlackRock $20B Bitcoin ETF Overtakes Grayscale | EP 1000 · Simply Bitcoin

• 0:02
  It's all going to zero against Bitcoin.
• 0:06
  It's going up forever. You're.
• 0:15
  Against Bitcoin, you're against freedom.
• 0:23
  I'm I'm very bullish on the long term viability of Bitcoin.
• 0:29
  I was just saying, did that surprise that?
• 0:30
  Surprised me how much that's gone up.
• 0:32
  I mean, look at it's, it's, it is we're, we're creating now a
• 0:35
  market that has more liquidity, more transparency.
• 0:38
  And I'm, I'm pleasantly surprised and it would never
• 0:42
  have predicted it before we filed it that we were going to
• 0:46
  see this type of retail. Demand.
• 0:47
  So you thought you'd do good, but not this good.
• 0:49
  I thought, yes, yes, definitely. I bid as your ETF over at
• 0:54
  iShares, it's about to overtake Grayscale, which was in the
• 1:00
  business certainly a lot longer. You look at the gains since
• 1:05
  January 11th when it first came about.
• 1:08
  Have you ever seen this much inflow this quickly into?
• 1:12
  Ibid is the fastest growing ETF in the history of ETFs.
• 1:17
  Yo, welcome to some of the Bitcoin live, your number one
• 1:19
  source for the peaceful Bitcoin revolution.
• 1:21
  Karina used culture Matic warfare will be your guide
• 1:24
  through the separation of money and see ladies and gentlemen,
• 1:26
  welcome to simply Bitcoin, the most watched daily Bitcoin only
• 1:29
  live show on YouTube Rumble Annex Sit back, relax.
• 1:33
  It's going to be a hell of a show today.
• 1:35
  So, you know, they're seeing the quiet part.
• 1:37
  I mean, you have Larry Fink, right?
• 1:39
  The, you know, the chairman of the largest asset manager in the
• 1:43
  world literally saying that the Bitcoin ETFs have been the best
• 1:48
  performing ETF period in the history of ETFs.
• 1:53
  And also the anchor was asking him like you're you guys are
• 1:57
  about to overtake grayscale. It happened also we, we covered
• 2:01
  this on yesterday's episode. The ETFs now hold a, a combined
• 2:05
  1,000,000 Bitcoin. I think Sailor coined a term
• 2:09
  called calling it one Nakamoto, which is pretty crazy.
• 2:12
  But it's important to remember also what, what we have the data
• 2:16
  for you guys today that the vast majority of Bitcoin is still
• 2:19
  held by individuals. Roughly it's estimated roughly
• 2:22
  11,000,000 Bitcoin. So I mean absolutely huge.
• 2:26
  I think this is a testament to Bitcoin's incentives.
• 2:29
  You had another publicly traded company on the NASDAQ announced
• 2:33
  yesterday that it was going to adopt A Bitcoin strategy.
• 2:36
  Of course, following in the footsteps of Michael Saylor, the
• 2:39
  stock went on to pump 30%. That is the Bitcoin effect.
• 2:44
  Also, you have multiple countries all over the world,
• 2:47
  including the Kingdom of Bhutan, Kenya and El Salvador.
• 2:51
  All are mining Bitcoin. Kenya teamed up with Marathon,
• 2:55
  the publicly traded miner, and the Kingdom of Bhutan was
• 2:58
  covertly mining Bitcoin with the company Bit Tier and they just
• 3:02
  increased their investment in the small Kingdom in in Asia, in
• 3:08
  the Himalayas. So this is Bitcoin's incentives.
• 3:11
  This is the game theory playing out.
• 3:13
  Mind you, five years ago Larry Fink was quoted saying that
• 3:18
  Bitcoin is an index of money laundering.
• 3:20
  You know what changed in five years?
• 3:22
  Well, it's since nothing has changed.
• 3:24
  Bitcoin's incentives are doing what Bitcoin's incentives do
• 3:28
  best. And you know, like everyone's
• 3:30
  kind of in a predicament. Fiat forces, whether it's
• 3:34
  institutions, individuals to become part time investors just
• 3:38
  to maintain their purchasing power.
• 3:39
  Bonds are terrible. Holding Fiat is like holding a,
• 3:44
  a melting ice cube. Now they found Bitcoin and
• 3:47
  they're like, holy cow, we might be on to something.
• 3:51
  So I think that this cycle is going to be absolutely massive.
• 3:55
  I think we all kind of feel it. I think a lot of us have PTSD
• 3:58
  from the 2020-2021 cycle where the China ban, I think kind of
• 4:03
  cut it short. Also the rehypothecation by FTX
• 4:07
  and all that. So, you know, a lot of us are,
• 4:10
  we have PTSD and we just, we just can't believe it.
• 4:12
  But if you actually pay attention to what's going on in
• 4:16
  the sidelines, right back when Bitcoin was hitting these all
• 4:20
  time high prices of 69 K back in 2021, none of these things were
• 4:24
  true. Michael Saylor's Bitcoin
• 4:26
  strategy wasn't proven yet at that point, the hash rate was
• 4:29
  lower. You didn't have countries and
• 4:31
  publicly announcing that they were mining Bitcoin.
• 4:34
  So yes, this is this. This is where we are heading
• 4:37
  into uncharted territory as the world wakes up to the fact that
• 4:42
  Bitcoin is the superior asset with superior incentives.
• 4:47
  Also another news, it seems like there's a bit of a consolidation
• 4:50
  going on in regards to some of the public miners.
• 4:55
  Riot Platforms acquires a 9.25% stake in Bit Farms following a
• 5:01
  rejected offer of $950 million. So we'll talk about that.
• 5:06
  The centralization of mining is it, is it a big deal?
• 5:08
  I mean there's one mining pool called Foundry that accounts for
• 5:13
  29.82% of the hash rate. Is that a problem?
• 5:17
  I don't know we'll see. But we do have a very special
• 5:19
  guest and a Bitcoin OG to talk about that today.
• 5:22
  He is also the strongest and best looking Bitcoin
• 5:27
  entrepreneur in Canada. Of course, about Dave Bradley,
• 5:31
  he's also a board member of Bitcoin Well and Co founder of
• 5:34
  Bull Bitcoin. Dave, thank you so much for
• 5:36
  joining us on the show today. Thank you for having me.
• 5:40
  Appreciate it, man. I mean, look, real quick.
• 5:43
  Could you have ever have imagined since the early days
• 5:46
  that Bitcoin, you know, would would come to these like would
• 5:51
  would come to this point where there's presidents talking about
• 5:54
  it, dropping it in, you know, campaign speeches and all that?
• 5:59
  Yeah, it, it's pretty wild 'cause there was a point where
• 6:02
  it was like just me and the Bitcoin industry in Western
• 6:05
  Canada and, you know, I was meeting people at Tim Horton's
• 6:09
  and I had a moment like going to that Miami 2021 conference when
• 6:15
  everybody was like, so happy the world was opening back up and,
• 6:18
  you know, there's ten 10s of thousands of people there.
• 6:20
  It was just like, holy shit. Like this is very different than
• 6:24
  it used to be. The current stuff like the
• 6:28
  government's getting in doesn't really excite me.
• 6:34
  You know, the, the bankers getting it doesn't really excite
• 6:36
  me. They're they're kind of like the
• 6:38
  inevitable, slightly less dumb money that's getting in.
• 6:44
  Yeah. And let me ask you about that.
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  So, but you know, we we have the saying in Bitcoin, which is, you
• 6:50
  know, Bitcoin is the money of enemies, right.
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  So you can make the argument that this was an eventuality,
• 6:57
  right. So it's now large institutions,
• 7:00
  asset managers, you have small nation states.
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  I think the last domino to fall, whether that was on purpose or
• 7:08
  not or the central bankers, central banks basically saying,
• 7:11
  you know what, this gold, this shiny metal, perhaps maybe it's
• 7:15
  not a good idea to hold on to it.
• 7:17
  Maybe this Bitcoin thing looks pretty good.
• 7:21
  Yeah, and I mean, gold isn't really that important of a tool
• 7:26
  right now in the global monetary system.
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  I wouldn't say like, I don't think that.
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  I don't think people are out there being like, you know what,
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  I'm gonna evaluate my currency choice based on their gold
• 7:33
  reserves. It's, it's really about spending
• 7:36
  power and being able to maintain that.
• 7:38
  And in the world that we're in right now, like even maintaining
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  relatively short term spending power is what I think most
• 7:45
  people are prioritizing. And so most people are going to
• 7:47
  continue to use whatever their local currency is until it
• 7:51
  collapses. And then they'll use whatever
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  the next most spendable local currency would be.
• 7:56
  In most cases, that's going to be the US dollar.
• 7:58
  But that's not, that's not because they're like, Hey, I,
• 8:00
  you know, I heard the US has a lot of gold allegedly.
• 8:04
  So we trust the, that the, the dollar will be backed by
• 8:07
  something, right? So I think all of these
• 8:10
  currencies are really backed by nothing more than promises at
• 8:12
  this point. And at at a certain point, we
• 8:16
  might see Fiat currencies get into a game where they're
• 8:19
  starting to compete based on what they're backed by.
• 8:23
  They might start talking about gold reserves.
• 8:25
  They might actually back a currency by gold again, or they
• 8:28
  might go to Bitcoin, obviously, which should be the right choice
• 8:31
  rationally for the for the country that they're managing.
• 8:35
  But yeah, I mean, I think we're like, we're just just starting
• 8:39
  to see a little tip of awareness in that area.
• 8:42
  We've got, for example, a a credit union here in Alberta
• 8:45
  called Bull Valley Credit Union that we're big supporters of
• 8:47
  that has started to put gold on the balance sheet of the bank
• 8:51
  just with the idea that like, hey, they, they fully expect
• 8:54
  this whole thing could collapse someday and they want to make
• 8:56
  sure that their depositors have more than nothing.
• 9:00
  Absolutely. I mean, and, and I, I think
• 9:03
  you're starting to see that, right?
• 9:04
  Like, so El Salvador made their reserves public, right?
• 9:09
  And the comparison that I always make is like, you know, you have
• 9:12
  the, the famous Fort Knox in the US where there literally hasn't
• 9:16
  been a video of the inside of a vault.
• 9:20
  And they, and when they did do like a video or picture of that,
• 9:23
  they only showed one vault of the entire thing.
• 9:27
  And the, the last time that happened was like in the 1970s
• 9:30
  and like 1974. So, you know, to kind of add to
• 9:35
  what you're saying, you know, I think you're going to see like
• 9:38
  the countries that most benefit from their strong Fiat
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  currencies be the last to the party, in my opinion, 'cause
• 9:45
  they're going to want to hold on to that power of being able to
• 9:48
  just create money for free that everyone else has to work for.
• 9:51
  But what I got to say is anyone who criticizes El Salvador about
• 9:54
  how they do things, you know, they got to shut the F up
• 9:58
  because until they make their reserves public, they're
• 10:01
  absolute Larpers. Like it's a LARP, It's a joke.
• 10:06
  Yeah, and I, I think your, your point about, you know, which
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  currencies will or which countries will adopt at first is
• 10:12
  a good one. And El Salvador, because they
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  don't have their own currency, they're already in a spot where
• 10:17
  they don't have the tool of money printing to shore up their
• 10:21
  their weak fiscal decisions, right.
• 10:23
  And that's, that's really what most of these countries are
• 10:25
  clinging to is the ability to print money in order to spend
• 10:28
  money. And we've gotten to this point
• 10:30
  where, you know, government spending pretty much everywhere
• 10:32
  in the world is so vastly unsustainable that, you know,
• 10:35
  they're they're just trying to spend as much money as they can
• 10:38
  to stay in power as much as long as they can at this point.
• 10:42
  And, you know, 1 by 1, every country in the world is going to
• 10:46
  lose that ability to print their own currency to spend it.
• 10:50
  And it's definitely going to be the weaker currencies that go
• 10:53
  first. And then once they've lost that
• 10:55
  ability, you know, Bitcoin starts to look a lot more
• 10:59
  impressive as sort of like a savings tool, which is really
• 11:01
  what it is. And it should be a savings tool
• 11:04
  at the country level too. Yeah, 100%.
• 11:07
  And I agree with that. I agree with that and I agree
• 11:11
  with that 100% because they're incentivized to look for
• 11:14
  alternatives versus, you know, the like, what's crazy is like
• 11:18
  the US where like they sell, you know, the, the Bitcoin that they
• 11:22
  seized from, you know, the, the, the, you know, Silk Road and all
• 11:26
  that. They sell it for dollars.
• 11:28
  So they sell Bitcoin for something that they could just
• 11:31
  create out of thin air, which I think is just like, like it's an
• 11:35
  example of how how clown world Fiat world is like it.
• 11:39
  It's just, it's just absolutely insane.
• 11:41
  Also, Opti survived the storm. He's with us today.
• 11:45
  I didn't know this cause Opti you know Opti stoics stoic in a
• 11:51
  way sometimes but apparently there's a huge storm that you
• 11:56
  know hit his city and like how many people lost power bro?
• 12:01
  Yeah, So there was a huge thunderstorm, 80 mile per hour
• 12:05
  winds last night or no, sorry two days ago in Dallas had woke
• 12:09
  up the tornado warnings and everything.
• 12:11
  And apparently there's potentially, I haven't updated
• 12:14
  this, but there might be half a million people still out of
• 12:17
  electricity at this point. But yeah, my electricity got
• 12:20
  back at at 2 yesterday. So hey, sorry, guys, rug pulled
• 12:24
  on the show, but there was a couple of things outside of my
• 12:27
  control. So at least I'm here.
• 12:30
  You know, waking up to a tornado sirens is not fun.
• 12:33
  But Nico, I did make it to the thousands Simply Bitcoin
• 12:38
  episode. You know, we only got another
• 12:40
  1000 or 1100 to catch up to Joe Rogan.
• 12:44
  But hey, we're at what are the thousands Simply Bitcoin
• 12:46
  episodes? It's absolutely incredible man.
• 12:50
  It's been a good run. Still got another couple
• 12:52
  thousand in us. I hope it's.
• 12:54
  Been a good run and the best is yet to come.
• 12:57
  Anyways, I I do also want to mention dude, you made it to the
• 13:00
  thousand episode, but you missed the episode where where you
• 13:07
  know, president of Bitcoin magazine, Mike Germano joined us
• 13:10
  yesterday announcing that simple.
• 13:11
  I was in the chat, I was in he's.
• 13:13
  Gonna be taking over the news desk for a couple hours at the
• 13:17
  Bitcoin conference at Bitcoin 2024.
• 13:20
  So, but you didn't make the thousandth episode, so it's, you
• 13:23
  know. Hey, you know, I guess, I guess
• 13:27
  God just didn't want me to be there when when Mike Germano was
• 13:30
  blowing my eagle up, you know? That's a storm, but we had we
• 13:35
  had rust in the cohost seat. So Oh my God, someones already
• 13:38
  mentioning celebrate the the 1060 ninth episode.
• 13:42
  Of course the chat is back today.
• 13:44
  Anyways, guys, we have a hell of a show lined up for you guys.
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  But before we get to it, I do want to give a extremely special
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  numbers lots to talk about today let's check it out here we go.
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  March 22nd 2028 Total lighting network capacity 4656 Bitcoin
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  capacity value 314 million U.S. dollars.
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  Realize monetary inflation 1.63% the market capitalization of
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  Bitcoin currently sitting at 1.33 trillion.
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  Bitcoin verse gold market cap 8.24%.
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  In the grand scheme of things, we are just getting started
• 18:01
  anyways. I, I saw this video dropped by
• 18:04
  pomp. Here he is again.
• 18:06
  We always talk about the concept of the Bitcoin echo chamber.
• 18:09
  Us Bitcoin content creators, we we make content for other
• 18:13
  bitcoiners, right. How do we break the echo
• 18:15
  chamber? Well, you know, you go on legacy
• 18:17
  media, you have these types of interviews Charles Payne has
• 18:20
  done an incredible job he's been in he's been a Bitcoin advocate.
• 18:24
  Natalie Burnell's absolutely slate it when she when she's
• 18:27
  gone on his show as well. So this is important because
• 18:31
  this is normies, right? Normies are watching Fox
• 18:34
  Business, right? So normies get exposure to
• 18:37
  Bitcoin. You know, that's why it's so
• 18:39
  important when it's why I started with the cold open of
• 18:42
  Larry Fink on the legacy financial media.
• 18:44
  Or when, you know, Pomp does these types of interviews on Fox
• 18:48
  Business or when Natalie Burnell goes on Fox Business or when,
• 18:51
  you know, Jack Mahler's goes on Bloomberg, right?
• 18:53
  That really moves the needle because these are people that
• 18:57
  haven't heard the things that us Bitcoiners have heard millions
• 19:01
  of times, right? They're getting kind of exposed
• 19:05
  to need to these to these ideas anyways.
• 19:07
  So here's Pomp on Fox Business and he's talking about a couple
• 19:11
  of things. Let's check it out and then
• 19:13
  we'll talk about it. All right, move over Bitcoin and
• 19:15
  here comes Ethereum. That's right.
• 19:16
  In the past month, Ethereum is rally more than 17% versus 6 1/2
• 19:20
  percent for Bitcoin. The question is what's driving
• 19:23
  it and where does it go from here?
• 19:24
  Had to bring in pomp investments investor Anthony Pompliano and
• 19:28
  pop, what the heck is going on now?
• 19:30
  By the way, I did read, I think it was last week you had a
• 19:32
  headline. It sat on a little ominous about
• 19:35
  about these Ethereum ETFs. Are you a fan or not?
• 19:38
  Well, I think that Wall Street's just woken up to the fact they
• 19:40
  can make money in this sector now, right?
• 19:41
  If you look back 345 years ago, they were all saying we don't
• 19:44
  like Bitcoin, we don't like crypto.
• 19:46
  Now they realize there's profits here.
• 19:48
  And so they're going to continue to push not only to get the
• 19:50
  Bitcoin ETFs, Ethereum ETFs, but they're going to try to go
• 19:52
  through this full stack. And the question is, what will
• 19:55
  regulators allow? How many are they going to
• 19:56
  approve? How many coins are going to be
• 19:58
  on Wall Street by the end of this year?
• 19:59
  Yeah, I mean, so it sounds like you don't want too many, you
• 20:02
  don't want some of the lower end coins.
• 20:05
  Well, just just think, Bitcoin I think is this unique thing that
• 20:07
  has a very clean story, right? It's a store of value.
• 20:09
  When you get into these other things, they're technology
• 20:11
  platforms. So now you start talking about
• 20:12
  what's the difference between Facebook, Amazon, Google,
• 20:15
  etcetera. They're all competing for
• 20:16
  different kind of aspects of the consumer.
• 20:18
  And so I think when you look at Ethereum, Solana and many
• 20:20
  others, their tech platforms competing with each other.
• 20:22
  And so the story just isn't as clean as Bitcoin exclusively.
• 20:25
  Something else has changed here in the last two or three weeks.
• 20:27
  President, former President Trump has really been like, hey,
• 20:30
  I'm down. I'm, I like Bitcoin and I feel
• 20:35
  like a lot of Democrats, not necessarily the president
• 20:37
  himself, but a lot of Democrats are starting to change their
• 20:39
  tune a little bit, may be fearful of losing that young
• 20:42
  vote. There's 50 plus million
• 20:44
  Americans that hold these assets.
• 20:46
  And so if you're going to basically concede the fact that
• 20:48
  the Republican Party is going to be pro crypto and you're going
• 20:50
  to take an anti crypto stance, you can kiss those 50 million
• 20:53
  votes goodbye most likely. People for centuries have been
• 20:56
  voting with their pocket who is best for what I can do
• 20:58
  financially. And crypto is just the latest
• 21:00
  manifestation of that. And so I think that Trump really
• 21:02
  changed the game. He forced the hand of
• 21:04
  politicians on both sides of the aisle.
• 21:06
  If you don't embrace this, you are now setting yourself up to
• 21:09
  be in the crosshairs of these crypto voters.
• 21:11
  And I think that people finally realized, not only are they
• 21:13
  passionate, it's a large group and they're willing to go out to
• 21:15
  the ballot box. And that's going to change how
• 21:17
  politicians treat this asset class.
• 21:18
  Less than 30 seconds ago. Speaking of adoption, another
• 21:21
  company is making this their key treasury asset.
• 21:25
  Look, Michael Saylor and Micro Strategy pioneered this.
• 21:28
  There's now, you know, five different companies around the
• 21:29
  world that I'm aware of. I always say that one does it,
• 21:32
  it's a .2, it's a line 3, it's a trend.
• 21:35
  So I think we're going to see many, many more do this over the
• 21:37
  coming years. I gotta tell you, Sailor, I
• 21:39
  mean, you have to tip to have to him.
• 21:40
  You did a fantastic job. He's done a fantastic job.
• 21:43
  He put his money where his mouth is really, and it's worked out
• 21:46
  so far pretty good for him. Made a couple billion dollars.
• 21:49
  Couple all right. Soon he'll catch you, my man.
• 21:52
  Talk to you again real soon all. Right before I get the reaction,
• 21:54
  everyone, I do want to give a very special shout out to the
• 21:57
  Super chat. Josh, thank you so much for the
• 22:00
  $100. He said one thousandth episode,
• 22:02
  let's go. We are winning.
• 22:04
  Really, really appreciate the support, Josh.
• 22:06
  OK, quick observation here and I'm going to throw, I'm going to
• 22:11
  mention Sailor as well because I saw the Peter McCormack episode.
• 22:15
  I find it a little bit interesting that all of a
• 22:18
  sudden, you know, people I hate, I, I find it interesting that
• 22:25
  someone like Sailor and someone like Pomp that have been many,
• 22:29
  many times gone on air publicly said they're Bitcoin only or
• 22:33
  they, you know, they support Bitcoin specifically Sailor and
• 22:36
  all of a sudden they're changing tune in regards to these other
• 22:41
  shit coins becoming ETFs now that the regulatory environment
• 22:45
  changed because of the political situation.
• 22:48
  Make no mistake, I think Mahler's had a different theory.
• 22:50
  Was it that I think Pomp, I heard him say the same thing
• 22:54
  that it's like Wall Street is realizing that this is another
• 22:56
  way to make money. But I truly believe it was the
• 22:59
  political situation and exactly what Pomp said about the 50
• 23:03
  million voters. It's a huge demographic that
• 23:07
  they can potentially lose the Democratic Party.
• 23:09
  This is an election year in November that they could
• 23:12
  potentially use lose because they're taking an anti Bitcoin
• 23:16
  stance, right? So it's almost as if they're
• 23:19
  kind of placating a little bit. And I think that's one of the
• 23:21
  reasons that they let you know this Ethereum ETF go in, right,
• 23:25
  doesn't pass the Howie test, right?
• 23:28
  You know, the the vast majority of the supplies still held on by
• 23:31
  the foundation. They completely, they can change
• 23:33
  the monetary policy. You know that they've done it
• 23:36
  multiple times. They've rolled back the chain.
• 23:39
  They've done whatever they wanted, right?
• 23:41
  You can't do that with Bitcoin. That's really what separates
• 23:44
  Bitcoin from the rest. But I'm hearing similar words
• 23:48
  from Pomp and I'm hearing similar words from Sailor, which
• 23:51
  is they're just saying, oh, these are just technology plays
• 23:54
  all of a sudden. No, they're shit coin plays all
• 23:57
  of a sudden. I don't see, you know, like what
• 24:01
  does Ethereum do? What is its value proposition?
• 24:04
  I have absolutely no idea what it is.
• 24:07
  I don't know what it does. Like look, Amazon, like I could
• 24:11
  tell you what it does. Tesla, I could tell you what it
• 24:14
  does. Facebook, even though it's
• 24:15
  terrible, I could tell you what it does, right?
• 24:18
  What does Ethereum do? Like what is its value
• 24:21
  proposition? I have no idea, right, But the
• 24:25
  change in tune is interesting. And I think the one that caught
• 24:29
  me off guard the most is sailors change in tune, right?
• 24:33
  He went from there was going to be no Ethereum ETFSI mean
• 24:36
  there's going to be no other shit coins going to that that
• 24:39
  were going to become ETFs. And then all of a sudden when it
• 24:42
  was approved, he was like, yeah, you know, it's a technology and
• 24:46
  this, this and that. Like I find that interesting.
• 24:50
  OK, one last point and then I'll pass it on to Dave.
• 24:53
  Is I, I look, I, I'm, I'm a libertarian.
• 24:56
  I'm a capitalist at the end of the day.
• 24:57
  I, I don't, it would be, it would be a weird point
• 25:01
  perspective from a Bitcoiner saying that you'd want the
• 25:05
  government to step in and give you some type of special
• 25:08
  advantage. I think Bitcoin's incentives are
• 25:11
  gonna roll the day it doesn't need any type of special
• 25:14
  privileges or anything. It is the superior asset.
• 25:17
  It is going to win. It doesn't need an ETF.
• 25:20
  Maybe that's an unpopular opinion these days, but I do
• 25:24
  find it interesting that you have this change in tune all of
• 25:28
  a sudden that the all of a sudden now that the Etherium ETF
• 25:31
  is approved. Anyways, Dave, I said this in
• 25:34
  the beginning. You've been here a while, man.
• 25:37
  You've seen things, the fork wars, you know, a lot of
• 25:41
  uncertainty in the early days of Bitcoin.
• 25:44
  Is this just more noise? Like is this just more bullshit
• 25:48
  in Bitcoin's history? Yeah, and over many years I have
• 25:54
  figured out the use case for Ethereum.
• 25:57
  Ethereum is very useful that providing a user base of people
• 26:02
  who are easily fooled by techno Babble and have a high risk
• 26:06
  tolerance. And so Ethereum is going to
• 26:10
  continue to be popular for the same reason that you know, any
• 26:16
  any kind of like fantasy football is popular.
• 26:19
  It's a gambling platform. It's a gambling platform where
• 26:22
  people build things to gamble on.
• 26:24
  And it's a gambling platform where, you know, people gamble
• 26:29
  on the main token, of course itself, right.
• 26:32
  And so this framing of like these are just tech platforms
• 26:36
  is, is unhelpful to the listeners for sure of those
• 26:40
  those programs, but probably helpful to the world as a whole
• 26:44
  because everyone gets Bitcoin when they deserve to.
• 26:48
  And I think, you know, I, I, I think that is what we're going
• 26:56
  to see is that hopefully those, those Bitcoin, sorry, those,
• 26:59
  those Ethereum ETFs are going to distract the bankers and the
• 27:03
  central banks. And, you know, the, the last
• 27:05
  people that we want holding Bitcoin when this all shakes out
• 27:09
  are going to be the people that are most easily fooled by the
• 27:13
  Bitcoin ETF. And I think when we're talking
• 27:15
  about Ethereum as a tech platform or, you know, to your
• 27:18
  point, you can tell me what Amazon does.
• 27:21
  Not only can you tell, like can you tell us what it does, but
• 27:26
  when you own Amazon stock, you actually have rights, you know,
• 27:29
  you have shares in the company, you own the part of the company.
• 27:31
  And that's not true. When you own ether, you don't
• 27:33
  own anything. You the the Ethereum Foundation,
• 27:35
  which is a company that issued this security doesn't owe you
• 27:40
  anything other than the right to use their tools.
• 27:42
  So it's it's more like pre buying a gift card for a company
• 27:45
  that doesn't exist yet. Yeah, and and man, that was that
• 27:50
  was beautifully. I completely agree.
• 27:52
  Right. It's it's like, it's like it's
• 27:54
  just gambling. It's just like, what does it do?
• 27:57
  No one like no one knows, but you know, put it, put it in, you
• 28:02
  know, if they approve a Solana ATM, I mean, it's just a
• 28:05
  testament to how corrupted the system is.
• 28:08
  Like they're, they're not following the rule, their own
• 28:10
  rules anymore. It's just like, but it but it's
• 28:13
  Fiat system, right. And I think a lot and you know,
• 28:15
  a lot of Bitcoiners are naive to think that the same system that
• 28:19
  is locking, you know, some, some members of the Bitcoin community
• 28:23
  in a box for writing code is going to come out and do the
• 28:27
  moral thing. Like I think the laws, the laws
• 28:30
  themselves are suffering from inflation, right?
• 28:33
  So anyways, Opti, what's your take on this?
• 28:36
  Also, we see, I see yellow is in the chat.
• 28:38
  Shout out yellow. Opti, what's your take on all
• 28:41
  this, brother? Yeah, well, I think, you know,
• 28:44
  kind of echoing what Dave was saying, I, I like to quote
• 28:47
  safety in here. The use case of Etherium is it's
• 28:50
  the mother asshole, which all shit coins come from.
• 28:53
  So, you know, that's where we're at right now.
• 28:56
  But I mean, I'm doubling down on this.
• 28:58
  I've been saying for a minute, and you guys call me a shit
• 29:01
  corner all you want, but I think the SEC needs to approve all the
• 29:05
  shit coin ETF so that they don't pick winners and losers so that
• 29:09
  people can get absolutely wrecked out there if they want
• 29:11
  to get greedy and put their money in this garbage.
• 29:14
  So Gary, I'm calling on you right now.
• 29:17
  Prove all the shit coin ETFs so that Bitcoin can very clearly
• 29:21
  show that it is the only thing that is a true winner out here.
• 29:25
  And if you want to be greedy, you want to, you know, play
• 29:28
  stupid games, they're going to win stupid prizes.
• 29:30
  And I'm, I'm really, really excited to see the shit coin
• 29:33
  ETFs wreck Wall Street. Kind of as Dave was saying, you
• 29:37
  know, echoing the same thing that the people that are the
• 29:39
  most greedy, the ones that want to gamble, the ones that are
• 29:44
  easily distracted by the techno Babble, just get absolutely
• 29:47
  wrecked. And anyone that really knows
• 29:50
  what's going on, AKA every single one of you guys out there
• 29:53
  that watches the show constantly knows that all you really need
• 29:56
  to do is just stack sats, take it into custody, work on your
• 30:01
  cash flow and chill while everyone out there continues to
• 30:04
  play Fiat gambling games. They get absolutely devastated.
• 30:08
  And we store the best money in the world.
• 30:10
  Like what, what could be a better, better outcome than
• 30:13
  seeing Wall Street get absolutely devastated because of
• 30:16
  these shit coin ETFs? And we're just, you know,
• 30:18
  acquiring as much Bitcoin as possible and it, it's just, it's
• 30:21
  just going to be a beautiful game.
• 30:22
  So, you know, I, I want them all approved at this point, Nico, I
• 30:26
  want them all approved. Do not pick the winners and
• 30:29
  losers. But no, I, I also like kind of
• 30:32
  seriously, it does seem like we, I've been saying this probably
• 30:36
  for like a year where we were looking on the horizon and
• 30:38
  saying like Bitcoin is finally starting to enter the mainstream
• 30:41
  consciousness. It's starting to enter the
• 30:43
  mainstream conversation. And now it, it very clearly is,
• 30:47
  I think maybe not like the darling of the ball yet, but
• 30:50
  it's in the mainstream conversation.
• 30:52
  You know, we have, we have basically traditional legacy
• 30:57
  media talking heads be Bitcoin Maxis and, and now people are
• 31:02
  taking what we're saying seriously versus before they
• 31:05
  were just laughing at us and you know, haha, your, your Internet
• 31:08
  money is cool and all, but like, I'm not going to buy anything.
• 31:11
  And now every asset manager in the world's like, wait, I
• 31:14
  actually have to take Bitcoin seriously.
• 31:17
  And it's just beautiful to see. And, and I'm sure this is only
• 31:20
  going to go up in the future, or rather in the short term,
• 31:23
  because I, I think by the end of the year where things are going
• 31:26
  to get really crazy. So I think the conversation is
• 31:30
  maturing at least in, in the public eye.
• 31:33
  But for all of us here, it's, it's like nothing new.
• 31:36
  It's like, OK, we're at the, we're at the, the point in the
• 31:38
  cycle where pomp goes on television talks about Bitcoin,
• 31:41
  like, OK, like start, let's get the number rolling so that
• 31:43
  everyone knows what's going on here.
• 31:46
  And yeah, it's just like, OK, we've seen this before.
• 31:48
  Like, let's just let's get to the end of the year when the
• 31:50
  price starts going nuclear. Amen to that.
• 31:53
  Amen to that. All right everybody, before we
• 31:54
  move on to the next block, I do want to give a extremely special
• 31:58
  shout out to our sponsor. And of course, I'm talking about
• 32:01
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• 32:29
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  It's going to be Dave. Are you going to be in
• 32:45
  Nashville? I haven't decided.
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  I lean towards no, but I got a lot of travel.
• 32:54
  So Dave might be at the party. It's gonna be hosted at an
• 32:58
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• 33:11
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  link in the video description. All right, everybody, let's move
• 33:22
  on to the Daily News. The Daily News.
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  I personally use it. All right, everybody, so let's
• 35:04
  talk about today's news. Bitcoin ETFs see significant
• 35:07
  inflow surpass 1,000,000 Hells. I mean, this is something that
• 35:11
  we talked about yesterday, the amount of Bitcoin that these
• 35:15
  institutions are holding. Also something that we didn't
• 35:19
  cover last week, but the Grayscale CEOI can't pronounce
• 35:23
  that last name. I apologize, guys.
• 35:25
  Michael Sonnenstein steps down to be replaced by Tradfi
• 35:30
  veteran. And I wonder why that that was.
• 35:34
  I wonder why that is. I mean, the anchor on the legacy
• 35:37
  financial media, the cold opening kind of hinted to it.
• 35:41
  And it finally happened. This is what I wanted to talk
• 35:43
  about today. Blackrock's $20 billion ETF
• 35:47
  overtakes Grayscale, now world's largest Bitcoin fund.
• 35:51
  Blackrock's Bitcoin ETF has become the world's largest fund
• 35:55
  for the original cryptocurrency, amassing almost $20 billion in
• 35:58
  total assets cents listing in the US.
• 36:01
  The exchange traded fund held $19.68 billion of the token on
• 36:06
  May 28th, dethroning the 19.65 billion Grayscale Bitcoin Trust,
• 36:12
  data compiled by Bloomberg shows.
• 36:14
  The third largest is the 11.1 billion offering from Fidelity.
• 36:18
  The BlackRock and Fidelity Bitcoin ETFs were among nine
• 36:21
  that debuted in January on January 11th, the same day that
• 36:24
  the more than decade old Grayscale vehicle converted into
• 36:28
  an ETF. The launches were a watershed
• 36:30
  moment for crypto, making Bitcoin more accessible to
• 36:33
  investors, spurring a rally in the token to a record $73,798.
• 36:39
  The BlackRock Bitcoin Trust has attracted the greatest inflow
• 36:43
  since going live, $16.5 million, while investors have pulled 17.7
• 36:48
  billion from Grayscale Fund over the same period.
• 36:51
  The latter's higher fees and exits by arbitrary arbitrators
• 36:56
  have been cited as possible drivers of outflows.
• 36:58
  Neither BlackRock nor Grayscale Investments immediately replied
• 37:01
  to request for comment outside regular U.S. business hours.
• 37:05
  Grayscale intends to launch a clone of its main fund,
• 37:08
  according to a March regulatory filing, and fees are expected to
• 37:11
  be lower, a person familiar with the matter said at the time.
• 37:16
  So another thing that I wanted to cover as well, 'cause I think
• 37:18
  this is important. One million Bitcoin is
• 37:21
  definitely a lot of Bitcoin. I don't know.
• 37:24
  Alright Dave, I'll ask you what do you think about the name that
• 37:27
  Sailor coined for it? 1,000,000 Bitcoin is 1 Nakamoto.
• 37:30
  Do you like it? Dislike it?
• 37:33
  Yeah, I think I like it. It's probably not something
• 37:37
  we're going to refer to very often.
• 37:40
  Yeah, I, I, I, I, I completely agree.
• 37:44
  Definitely not. It's like, man, he has one
• 37:47
  Nakamoto. Oh, man.
• 37:50
  OK, so I love this graphic by River.
• 37:53
  It's something that we've used before on the show and it kind
• 37:56
  of does a breakdown of like who owns what, right?
• 37:59
  So miners, they own roughly 700 Bitcoin satoshi.
• 38:04
  This is why it's called one. Nakamoto owns roughly 1.1
• 38:08
  million Bitcoin, lost Bitcoin by estimation roughly 3.7 million,
• 38:13
  and then individuals hold 11.97 million, businesses roughly
• 38:19
  800,000 Bitcoin ETFs. Now they hold 1,000,000 Bitcoin,
• 38:23
  governments half a million Bitcoin, and to be mined, 1.38
• 38:28
  million Bitcoin. I got to be honest with you
• 38:30
  guys, this is dope. Like the fact that the ETFs hold
• 38:35
  less Bitcoin than individuals, the fact that governments hold
• 38:39
  less Bitcoin than individuals, the fact that businesses hold
• 38:42
  less Bitcoin than individuals, I think that's a really, really,
• 38:47
  really good thing. And I think that's just a
• 38:49
  testament to how, you know, Bitcoin was created.
• 38:52
  It's a grassroots movement. So she didn't just e-mail
• 38:55
  Goldman Sachs and all these people, you know, and say, hey,
• 38:58
  I'm launching something new. I don't think they would have
• 38:59
  bought it anyways. It was a grassroots movement
• 39:02
  from the bottom up. And that's why the majority of
• 39:05
  Bitcoin is held by individuals. So I think that's a really
• 39:09
  positive thing. And I also want to show this
• 39:11
  chart as a warning for anybody watching the show.
• 39:14
  If you sell your Bitcoin right now, you're either sending
• 39:18
  selling it to Larry Fink, the government or a business.
• 39:22
  Don't do that. Hold on to your Bitcoin.
• 39:25
  Definitely don't do that. Don't give away your power.
• 39:27
  Don't give away your sweet, sweet Satoshi's.
• 39:29
  So Dave, I mean, brother, like I said, you've been here from the
• 39:33
  very, very beginning. What what's your take on all
• 39:36
  this man? Is it is just going to keep on
• 39:39
  going. Who's selling all this Bitcoin
• 39:40
  to everyone? Why is the price still at where
• 39:43
  it was in 2021? Like if they're buying all this
• 39:46
  Bitcoin, why hasn't the price pumped?
• 39:48
  What's going on? Yeah, I mean, I don't
• 39:53
  particularly care why the price hasn't pumped in the short term
• 39:56
  here. You know, people are selling
• 39:59
  because they have things that they need to pay for and anybody
• 40:03
  who's not selling Bitcoin right now already had too many dollars
• 40:07
  in the first place, right. So it's it's kind of an
• 40:11
  inevitability that if you're really all in on Bitcoin, you're
• 40:14
  going to sell, right, because you got to pay for your your
• 40:16
  life. But I think ultimately that
• 40:20
  that. That chart that you showed is
• 40:22
  pretty interesting because we're going to be in a spot very soon
• 40:27
  where everyone's going to have to start making that choice of
• 40:29
  like, do I sell my Bitcoin to the government for something
• 40:32
  that they can just print, right? And that that's the part that
• 40:36
  makes really no sense at all. And if the government's really
• 40:41
  knew what Bitcoin was, if they realized what an existential
• 40:44
  threat it is to the even future existence of the concept of a
• 40:48
  nation state or a government, certainly to the idea that like
• 40:51
  a massive portion of the resources created by a society
• 40:55
  can be allocated by a small group of centralized people for
• 40:58
  their own benefit. You know, the fact that Bitcoin
• 41:02
  destroys that idea would be very threatening to them.
• 41:05
  And they haven't yet realized that.
• 41:07
  And if they had the most logical thing that they would, they
• 41:10
  could do would be to print as much of the free money that they
• 41:14
  can print and exchange it for as much Bitcoin as possible.
• 41:17
  And I think we're going to get to a point where they expressly
• 41:19
  realize that at some point. And you know, we've, we've
• 41:23
  probably all heard the, the saying like gradually then
• 41:25
  suddenly, and when one government starts cranking as
• 41:29
  much money as they can to buy as much Bitcoin as they can, the
• 41:32
  all the rest of them kind of have to follow or, or be left in
• 41:36
  the dust. And at that point, that's the
• 41:38
  suddenly, I think that's where we're going to go from like, you
• 41:41
  know, people adopting Bitcoin as an investment or a way to save
• 41:45
  their purchasing power to the majority of the world adopting
• 41:49
  Bitcoin so that they don't starve to death.
• 41:51
  Yeah, 100%. I think that's really good
• 41:53
  point. And it kind of when you were
• 41:55
  saying that, it reminds me of like this very famous meme.
• 41:57
  And I know, I know you know what I'm going to be talking about,
• 41:59
  Dave. But the one with Neo and
• 42:01
  Morpheus, which is like, so you're telling me Morpheus that,
• 42:06
  you know, one day I won't have to sell my Bitcoin And then
• 42:09
  Morpheus is like, yes, precisely Neo, because you'll be able to
• 42:13
  use it. Yeah.
• 42:13
  I mean, I, I, I think, I think that's gonna, I think it's gonna
• 42:17
  be a very kind of, what do you, what do you think, Dave?
• 42:20
  Do you think it's gonna be like a, a progressive thing that
• 42:22
  happens over time? Or do you think one day, you
• 42:25
  know, there's this kind of this mass realization by, you know, a
• 42:29
  big portion of the population that's like, wow, the money that
• 42:32
  we're using is fake, right 'cause that's the definition of
• 42:35
  hyperinflation for everybody. By the way, hyperinflation
• 42:38
  doesn't happen just because they, they print this excessive
• 42:41
  amount of money, But it's just, there's a critical mass of the
• 42:44
  population that just loses faith in the currency completely.
• 42:48
  And that's when it hyperinflates, right?
• 42:50
  So, or do you, do you, do you foresee that happening in the
• 42:53
  future kind of on a massive scale?
• 42:56
  I think it's, it's UN, it's unimaginable at this point.
• 42:59
  But I mean, it was unimaginable that you could you could made
• 43:05
  the same argument that it was unimaginable that you you would
• 43:07
  have a presidential candidate saying what he was saying.
• 43:09
  You could have made the argument that it was unimaginable that
• 43:11
  Larry Fink was going to be, you know, talking the Bitcoin talk
• 43:15
  on legacy financial media. You could have said it was
• 43:17
  unimaginable that, you know, Bitcoin would become legal
• 43:20
  tender of a country. You can make all these
• 43:22
  arguments. So is it really that
• 43:24
  unimaginable that, you know, we'll get to one point, we'll
• 43:26
  get to one day where people just don't want dollars anymore.
• 43:30
  They don't want Canadian dollars, they don't want pesos.
• 43:33
  They they just want real money, which is Bitcoin.
• 43:37
  Yeah, well, first of all, you completely fucked up that meme
• 43:40
  as you're trying to describe it. You you you missed like one of
• 43:44
  two panels but. You pull it up.
• 43:50
  Yeah, I mean, I I was doing it off the top of my head.
• 43:52
  So but you, you the the point that but it was a it was
• 43:55
  accomplishes trying to do right, which is you.
• 43:58
  You knew what Mimo was talking about.
• 44:00
  Yeah, Yeah, I did. So I think what we're going to
• 44:03
  see out of the next like, and I don't know how long this will
• 44:06
  take, maybe somewhere between 5 and 20 years is a period of
• 44:10
  really aggressive currency competition around the world.
• 44:14
  And see, there we go. Yeah, someday you won't have to.
• 44:20
  Yeah, so for audio listeners, the meme is 'cause I totally
• 44:23
  butchered it. Dave's absolutely right.
• 44:25
  The meme is Neo saying, what are you trying to tell me that I can
• 44:27
  trade my Bitcoin for millions someday?
• 44:30
  And Morpheus says no, Neo. I'm trying to tell you that when
• 44:32
  you're ready, you won't have to anyways, Dave.
• 44:36
  Yeah. So, yeah, I think, I think
• 44:38
  that's what we're we're heading towards.
• 44:40
  But I think what we're going to see first is a period where a
• 44:43
  lot of the weaker currencies in the world start to come under
• 44:46
  real pressure. And we're already seeing that in
• 44:48
  places like, you know, obviously Venezuela, Zimbabwe.
• 44:51
  But there's a lot more countries like Argentina, Lebanon, Turkey,
• 44:57
  almost all of them really that are like very close to that
• 45:01
  Cliff. And I like the metaphor of,
• 45:04
  like, Wile E Coyote chasing the Roadrunner.
• 45:07
  And there's this moment where the Roadrunner zips across the
• 45:09
  Canyon and Wiley Caillou runs out there.
• 45:12
  And then he hangs for a moment in mid air after he realizes
• 45:16
  that he has run off of a Cliff. And I think that's where a lot
• 45:20
  of the currencies are in the world is they're just like,
• 45:22
  they're already off the Cliff. It's already too late.
• 45:25
  And they're just hanging there for a moment.
• 45:28
  And, you know, they haven't yet realized that they're subject to
• 45:31
  the forces of reality, you know, gravity or, or money supply.
• 45:35
  And so we're going to see a lot more countries in the world
• 45:38
  who've been using this ability to print money as a way to
• 45:42
  sustain their ability to spend money.
• 45:45
  And, you know, they're they're going to lose that ability
• 45:50
  because they're going to reach that point of hyperinflation.
• 45:52
  And they're these countries are going to have to pick another
• 45:53
  currency. And in a lot of cases, the
• 45:57
  currency that they pick is going to be the US dollar in, you
• 46:00
  know, or, or, or some other regionally competitive currency
• 46:03
  like the euro or, or the yuan or, you know, just a small list
• 46:08
  of, of currencies that I think will survive.
• 46:11
  And eventually one of those countries is going to pick
• 46:15
  Bitcoin as their currency. They're going to pick Bitcoin
• 46:17
  not only as the backing for their currency, but as the
• 46:20
  denomination of their currency. And whichever country does that
• 46:24
  will probably be permanently the richest country in the world.
• 46:28
  Do you? Think from there that's go
• 46:30
  ahead. That's where the gradually then
• 46:33
  suddenly begins, I think. Absolutely.
• 46:35
  Do you do you think that country's El Salvador, Dave?
• 46:38
  No. No, why it just like what's
• 46:43
  your, what's your thought process there?
• 46:45
  Well, so El Salvador's on the US dollar, right?
• 46:48
  So they, they've for a long time not had the ability to do that.
• 46:51
  They, they haven't been able to print money to spend money.
• 46:54
  And that's why they partly why they've been one of the poorest
• 46:57
  countries in the world for a long time.
• 46:59
  So I think that El Salvador is going to benefit tremendously
• 47:02
  from the fact they bought Bitcoin or that they're holding
• 47:05
  Bitcoin. And that's going to be the
• 47:07
  biggest benefit to the country of El Salvador.
• 47:10
  I don't know that, you know, making it legal tender, like
• 47:14
  that's the exact opposite of of Bitcoin, right?
• 47:16
  Like we, we don't need permission from the government
• 47:18
  to use Bitcoin. That's literally what legal
• 47:20
  tender is. We're the, we're the only
• 47:22
  currency in the world that doesn't care if it's legal
• 47:25
  tender, right? There are a bunch of risks that
• 47:30
  come with El Salvador. You know, you've got an
• 47:32
  essential dictator in there that hopefully doesn't take the
• 47:35
  Bitcoins ever, but they are way ahead.
• 47:39
  So if if the if the dictator turns out to be benevolent,
• 47:42
  which is probably the best form of government and doesn't steal
• 47:46
  the Bitcoins and they continue to accumulate bitcoins, they
• 47:49
  have an advantage. They have a head start, but
• 47:52
  there's a bunch of countries in the world that could accumulate
• 47:54
  way more bitcoins way more quickly if they decided to do
• 47:56
  that. And the real important move is
• 47:59
  not necessarily just saving a Bitcoin, it's turning your
• 48:02
  economy into a Bitcoin economy. And so being denominated in a
• 48:05
  Bitcoin, they're probably a lot further away from that because
• 48:08
  their economy is already denominated in U.S. dollars.
• 48:11
  Gotcha. Yeah, man, it's it's, it's, it's
• 48:14
  fascinating. I remember you, you, you kind of
• 48:16
  remind me of this conversation that I had with, with Jeff
• 48:18
  Booth, Dave, which is like the countries that are farthest away
• 48:23
  from the benefit of, of, of, you know, being the world reserve
• 48:28
  current like like or being some of the reserve currencies are,
• 48:34
  are just going to benefit from this the most.
• 48:36
  Like, I think that's really when the things are going to start to
• 48:38
  break a little bit. And I think and it's already
• 48:41
  really it's already happened. Like if you take a look at
• 48:43
  Nigeria, right, you had these like crazy press releases coming
• 48:49
  out, like they launched the Inara no adoption, a lot of
• 48:53
  adoption of alternative currencies like Bitcoin,
• 48:57
  obviously. And then they threatened to lock
• 49:00
  the, you know, some of the, some of the company executives of
• 49:03
  Binance, which is one of the on ramps and, and they were blaming
• 49:06
  the on ramp rather than them printing money.
• 49:09
  And I think it's kind of like a bit of a foreshadowing.
• 49:11
  I, I see that happening in other countries 'cause, you know,
• 49:15
  these politicians that have this God like power, the hubris is
• 49:19
  crazy. We saw a little bit of that in
• 49:21
  Canada with the Canadian truckers protest.
• 49:23
  You definitely see that in the US, Like they're just completely
• 49:28
  disconnected from reality, you know, completely.
• 49:32
  And I, I think they're just gonna play Bitcoin.
• 49:34
  It's not us that, that we're printing money.
• 49:37
  It's not the fact that, you know, there's trillions of
• 49:39
  dollars unaccounted for, you know, in military spending from
• 49:42
  the Pentagon. It has nothing to do with that.
• 49:45
  It's, you know, it's Bitcoin's fault.
• 49:46
  It's the Bitcoiners. Yeah, and if you've seen, if
• 49:49
  you've read the book Atlas Shrugged, which everyone should
• 49:53
  read and no one should pretend that they've read it, part of
• 49:57
  the nearing the end of the the plot is that this villain
• 50:01
  they've created, John Galt, is the one that's ruining the
• 50:04
  economy. And then they're like, oh,
• 50:07
  actually we should probably get this guy to run the economy,
• 50:10
  right. And so I think there's a
• 50:11
  parallel there in that they will 100% at some point blame Bitcoin
• 50:17
  and they will be a, a much more violent then they fight you
• 50:23
  stage in a lot of countries in the world where a lot of places
• 50:27
  will make Bitcoin illegal. A lot of places will try to make
• 50:30
  it legal to hold your own Bitcoin.
• 50:32
  And you know, we're, we're all kind of in a race right now.
• 50:35
  We're in a race to like, how much Bitcoin can we get before
• 50:39
  everyone else? And you know, big, big companies
• 50:43
  like MicroStrategy have a huge advantage, but not as big of an
• 50:47
  advantage as a, as a country that can print its own money.
• 50:50
  And so that that's kind of the road that we're on right now.
• 50:53
  And I think if anything goes like the, the ETFs are positive
• 50:58
  because they distract the people that we don't want to win the
• 51:01
  race from the race. We don't want them to end up
• 51:04
  with the most Bitcoin. I'm not particularly worried
• 51:07
  about governments ending up with Bitcoin because at a certain
• 51:10
  point they're going to run out of spending power of their own
• 51:12
  printable currency and they're just going to spend the Bitcoin
• 51:15
  on all the stupid things that governments spend Bitcoin on
• 51:17
  anyway. I'm, I'm way more worried about
• 51:20
  the, the oligarchs and the, the, the, the plutocracy class
• 51:26
  accumulating more Bitcoin than most people.
• 51:29
  And I think the ETFs actually probably are a good safety
• 51:34
  measure to that because in, in, in the end, ultimately the
• 51:36
  governments are going to seize all the bitcoins in the ETFs.
• 51:39
  That's a, that's a virtual certainty.
• 51:41
  And you know, most of the, as you say, like the asset managers
• 51:46
  of the world and all of the, the, the, the corporate
• 51:49
  interests that are holding their Bitcoin in custodians and in the
• 51:52
  state of New York are ultimately going to find out, you know,
• 51:56
  what self custody means and why it's important.
• 52:00
  And from there, it will just get redistributed through
• 52:03
  capitalism. Absolutely, I I do want to give
• 52:07
  it this. I want to give this shout out to
• 52:09
  the Super chat. Doctor Sauss, thank you for the
• 52:11
  $20. This one is for the Roadrunner.
• 52:15
  So Dave, I'm going to move the over to the window, which we we
• 52:18
  do ever so slightly on simply Bitcoin.
• 52:21
  We we inch it over and I'm going to say the quiet part out loud.
• 52:25
  I think it's extremely important that bitcoiners get into
• 52:29
  positions of power and influence.
• 52:32
  If this is the route that we're going down, I think that's
• 52:36
  extremely important and I think that's lost on some bitcoiners,
• 52:41
  but we're heading because if not, then you know, like like
• 52:48
  it, it's either the bitcoiners in positions of power and
• 52:50
  influence or it's non bitcoiners in positions.
• 52:53
  Imagine vitalic in a position of power and influence like that
• 52:57
  would be horrific in my opinion. So I, I, I really believe, I
• 53:02
  think that's what we're going to see in the next, you know, 5-10,
• 53:06
  fifteen years in my opinion, just based on, you know, what
• 53:11
  you're saying. And I'm just kind of building a
• 53:12
  mental map in my head of like what the future road map is.
• 53:16
  Yeah, we need bitcoiners in positions of power and influence
• 53:19
  for sure. I, I agree with you, but I don't
• 53:23
  think that's going to happen because of the same reason that
• 53:26
  you don't get smart people running for office, right.
• 53:29
  It's like, like I don't want to be in charge.
• 53:32
  Like I don't know who, I don't know anybody who wants to be in
• 53:34
  charge meaningfully of other people at scale.
• 53:37
  Like it's a weird thing to want. It's a weird thing to to think
• 53:41
  like, hey, I should have power over a bunch of other people's
• 53:44
  decisions and I should be able to allocate some of the
• 53:47
  resources that they create with their time as I see fit.
• 53:51
  And that that's completely at odds with the idea of Bitcoin.
• 53:54
  And so I think necessarily a lot of Bitcoiners are very anti
• 53:58
  political. Like we don't trust governments,
• 54:01
  we don't trust political parties.
• 54:02
  I think what Trump did was genius move in that he like he
• 54:05
  found like a single button that could bring in all the people.
• 54:10
  And you've seen this all over Twitter.
• 54:11
  All these people were like, I would have never voted.
• 54:14
  But now I'm I'm interested in voting because of this one
• 54:17
  thing, right? And I think most bitcoiners
• 54:22
  would probably vote for something that you can something
• 54:25
  along lines of like we would like the government to leave us
• 54:28
  alone a lot more, right? And that kind of policy is very
• 54:32
  at odds generally with what the kind of people who decide that
• 54:36
  they should be in charge think they should do, right.
• 54:39
  There's this giant fallacy that is really guiding a lot of the,
• 54:44
  the, the wrong directions. I would say the world is going
• 54:47
  in right now that that humans are smart enough to do this kind
• 54:50
  of stuff, right. We, we can't really, we can't
• 54:52
  really, we can't manage, model, understand, control, create
• 55:00
  these really complex systems. And so things like the economy,
• 55:04
  the climate, things with trillions of inputs that, you
• 55:09
  know, we, we, we can't even really figure out what the
• 55:11
  weather's going to be like next week, let alone what the, what
• 55:14
  the whole of the planet is going to do.
• 55:16
  We, we can't model a virus, we can't model the economy.
• 55:20
  We can't manage everything about the world.
• 55:22
  And this idea that we just need better government falls into
• 55:28
  that fallacy that we just need smarter people making better
• 55:31
  decisions. I think what, what we need and
• 55:34
  what, what Bitcoin will give us necessarily because of the fact
• 55:38
  that it removes the ability for these people to reallocate our
• 55:41
  resources unilaterally with our consent, is that we will have
• 55:45
  governments that are more like service providers that can, you
• 55:50
  know, decide how, how heavy or light of a touch they're going
• 55:54
  to have into the area that they, they control.
• 55:58
  That's what a government is really.
• 55:59
  It's a, it's a, it's a, it's a group of people who control an
• 56:01
  area with a monopoly over violence.
• 56:03
  And if, if a group of people have that, they can decide what
• 56:08
  that place is going to be like. And I think we're going to get
• 56:10
  to a point fairly soon where that's competitive, you know,
• 56:13
  and we're, we're eventually going to get to a point where
• 56:15
  smaller and smaller governments can provide smaller and smaller
• 56:21
  services, frankly, for less tax. And when we get to a point where
• 56:25
  a country like that has adopted Bitcoin not only as a savings
• 56:28
  tool, but as their actual unit of account for the economy, you
• 56:32
  know, they're, they're completely removed from the
• 56:33
  ability to print our money and spend it anymore.
• 56:36
  And we will necessarily at that point, I think, get to the place
• 56:41
  where, you know, they're competing on services, not on
• 56:45
  like not on the grand scale. They're, they're more competing
• 56:48
  on like how efficient and small can the services that we offer
• 56:52
  be so that the fees or taxes to live where we we live are as
• 56:57
  small as possible. And once the ability to, to
• 57:00
  print money as a form of taxation is gone, the, the
• 57:04
  actual taxes will be much clearer to people and that that
• 57:06
  competition can really come into the market.
• 57:08
  We can see like where is it actually advantageous to live?
• 57:11
  And the answer will be not, not what the taxes are, but what
• 57:15
  what amount of Bitcoin does it cost me to live in this place,
• 57:19
  which is really like, how much of my time am I willing to
• 57:22
  devote to the collective goals of the area that I'm in?
• 57:25
  And I think if you, if you put that in a rational sense, most
• 57:28
  people would say very little. Yeah.
• 57:31
  Because people feel like their resources are better kept
• 57:33
  themselves. No, of course.
• 57:35
  And and by the way, this the theory of the sovereign
• 57:37
  individual that over time, you know, information technologies
• 57:43
  in the book, right, mass scale, peer-to-peer communications,
• 57:45
  mass scale peer-to-peer money is going to make politics
• 57:49
  irrelevant as people have the power to not only vote with
• 57:52
  their with their feet, but also their wallet.
• 57:55
  But I think what I meant to say is basically like, there is a
• 58:00
  transitionary period and you can have, you know, and forgive my
• 58:05
  language, everyone a total asshole that for whatever reason
• 58:08
  believes that they can somehow change the climate.
• 58:12
  Even though we're like a rock orbiting, you know, a giant
• 58:15
  fireball that's orbiting a giant black hole traveling millions of
• 58:19
  mph through the, you know, space, Whatever.
• 58:23
  And then, yeah, you have the hubris to think that you can
• 58:25
  fucking change the climate, bro. But always we have to raise the
• 58:29
  taxes. And you have to give up more
• 58:31
  power for that to happen because if you don't do that, then we
• 58:33
  can't do it, right? But you can have the other side
• 58:37
  of that where you have someone that creates a situation where
• 58:41
  it it it creates a situation where it creates an environment
• 58:48
  where entrepreneurs could thrive and the men with guns don't get
• 58:53
  in the way, right? But that takes a little bit of
• 58:57
  humility. That takes a little bit of self,
• 59:01
  you know, you know, you have the ability to just not be an
• 59:05
  asshole with power, right? Because if not, then you're, you
• 59:09
  know, thrown around by the guy with power that does think that
• 59:13
  he can change the climate and does think that he can central
• 59:17
  plan fucking everything, right? So what's your take on that?
• 59:23
  Yeah, I mean that that's what it comes down to, I guess is it's
• 59:25
  the the men with guns and how much we let them, how much power
• 59:29
  we let them have over our lives. And right now, you know, the I I
• 59:33
  think a lot more people would object very vehemently if the
• 59:37
  power of the men with guns was implemented at the point of a
• 59:40
  gun on a daily basis. You know, if the if the
• 59:43
  government showed up to your house every single day and took
• 59:46
  a percentage of the Bitcoin that you'd earned that day, people
• 59:49
  would not like that, I suspect. And right now it's about as far
• 59:54
  away as possible from that in that, you know, it's not even
• 59:57
  really obvious to people that that value has been taken.
• 1:00:02
  You know, I think we're getting to a point where inflation is
• 1:00:05
  starting to hit a lot more people.
• 1:00:07
  Five years ago or so, it was a very kind of nebulous concept
• 1:00:11
  that people had heard of but didn't really necessarily care
• 1:00:15
  about. And nowadays we're getting to
• 1:00:16
  the point where if you've been to the grocery store, if you're,
• 1:00:20
  if you're, if you're so poor that you have to do your own
• 1:00:23
  grocery shopping and, and you know, you, you, you buy things
• 1:00:28
  and you care about the price of things.
• 1:00:30
  Still, if you're not in the class of the mega wealthy,
• 1:00:32
  you've pretty much felt inflation at this point.
• 1:00:34
  You know, even if you're even if you're OK financially, the fact
• 1:00:39
  that a state costs three times more than it did a couple years
• 1:00:43
  ago is it it hurts every single time it happens.
• 1:00:47
  And so I think a lot more people are are ready to hear that.
• 1:00:51
  And I think a lot more people are starting to come awake to
• 1:00:54
  the fact that this is how you're actually being taxed.
• 1:00:57
  And this is the fact that the government is taking your
• 1:00:59
  resources away from you with money printing.
• 1:01:02
  And as they inevitably have to print like they're all kind of
• 1:01:06
  in the race to the bottom at this point, they're all kind of
• 1:01:08
  trying to print their way out of their own debts.
• 1:01:10
  They're trying to print their way into their next term by
• 1:01:13
  spending more money. As they do more and more of
• 1:01:17
  that, inevitably people are going to become more and more
• 1:01:20
  aware of the fact that this is how they're stealing from us.
• 1:01:24
  And you know that that's, that's the important piece, I think is
• 1:01:29
  how many people are aware of the the problem right now.
• 1:01:31
  And I'm seeing like I, I did a little mini speaking tour around
• 1:01:36
  small towns in Alberta a couple like about a month ago and it
• 1:01:39
  was really awesome to see how many more people are kind of
• 1:01:43
  ready to hear about Bitcoin because people have at least
• 1:01:46
  identified the problem now that Bitcoin solves.
• 1:01:50
  Yeah. And I think that's that's a
• 1:01:51
  really important point, right? This idea that this is
• 1:01:55
  information narrative trench warfare.
• 1:01:57
  We have to win over the hearts and minds of of individuals and
• 1:02:00
  really waking up, waking them up to the reality that it's not
• 1:02:03
  left versus right, it's not liberal versus conservative.
• 1:02:05
  It's like a total effing SIOP. It's a party of orange, a party
• 1:02:09
  of Bitcoin, peace, prosperity, opportunity, freedom,
• 1:02:12
  capitalism, non central planning versus the party of Fiat, the
• 1:02:16
  party of green, nihilism, poverty, destruction, despair,
• 1:02:20
  war, all of that, right? And that's really what we got to
• 1:02:23
  wake up people too. Anyways, let's move on to the
• 1:02:26
  culture segment. But before we do that, I want to
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• 1:03:02
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  Let's go. All right.
• 1:04:02
  Well, guys, as you've been hearing all day, we got Dave
• 1:04:05
  Bradley was putting on the Bitcoin Rodeo.
• 1:04:08
  So Dave, what can people expect in Calgary?
• 1:04:11
  I don't have the dates here. So maybe for the audio
• 1:04:14
  listeners, the dates to the Bitcoin Rodeo and what can they
• 1:04:18
  expect? So the Bitcoin Rodeo is
• 1:04:22
  happening on July 2nd and 3rd here in Calgary, AB.
• 1:04:27
  It is a non-technical conference, so there's, there's
• 1:04:31
  virtually no techspeak and you should reload this page here.
• 1:04:38
  It's very important. I think we've got, as you can
• 1:04:43
  see, JP Sears headlining. He's probably the most famous
• 1:04:47
  person who nobody knows his name.
• 1:04:51
  Like I've had this conversation like 100 times since we got him
• 1:04:54
  signed up for this and it everybody knows who he is.
• 1:04:57
  Everybody's seen his comedy, but nobody knows his name.
• 1:05:00
  So he's a bitcoiner. He's really awesome.
• 1:05:02
  He's going to be doing a Bitcoin comedy set and we tend to have a
• 1:05:05
  really big focus on like making the the whole show really fun.
• 1:05:10
  You know, Nico was there last year.
• 1:05:11
  He was involved in a couple things really awesome.
• 1:05:13
  We did the the Bitcoin elevator pitch competition.
• 1:05:16
  That went really well. And the oh, look at that front
• 1:05:21
  and center. I'm on the website.
• 1:05:27
  Yeah. And and then next we've got the
• 1:05:31
  the roast of BTC sessions. So that I think is going to be
• 1:05:35
  pretty amazing. We've got a good group of people
• 1:05:37
  that are all know Ben pretty well and he's Ben's like the
• 1:05:39
  nicest guy. So he's really hard to roast,
• 1:05:42
  but we're going to do it. And I think overall, like I
• 1:05:47
  said, we've got a big focus on comedy, but we're also going to
• 1:05:49
  be talking a lot about what Bitcoin means in the real world.
• 1:05:53
  So we're not getting super deep on the macroeconomic topics.
• 1:05:56
  We don't really need to to go to the depths of the discussion on
• 1:06:01
  hard money that we've all seen Sailor do a million times.
• 1:06:04
  We're more talking about like, how does Bitcoin affect real
• 1:06:07
  people in the real world on a day-to-day basis and what does
• 1:06:11
  this mean? Very relevantly, we have a promo
• 1:06:14
  code as you're pulling this up here, promo code is simply all.
• 1:06:21
  All of the Simply viewers right now can use this promo code to
• 1:06:25
  get $69 off of a ticket to the Bitcoin Rodeo.
• 1:06:29
  Oh, I'm going to put that in the video description.
• 1:06:31
  Optic, You put that in the chat. OK.
• 1:06:35
  And yeah, you can see we've got a, we've got a great list of
• 1:06:38
  speakers here. We should have more of the
• 1:06:41
  agenda up here probably later this week, but it's going to be
• 1:06:45
  a fantastic amount of content. And then we also have our, our
• 1:06:49
  SAT market or Saturday market that we put on quarterly.
• 1:06:53
  This is Ben BCC sessions and I have mostly organized this, but
• 1:06:56
  it's really become like a, a community grassroots thing where
• 1:07:00
  we get a bunch of different vendors out to kind of like a
• 1:07:02
  farmers market, flea market type setting and everyone sells
• 1:07:06
  whatever they normally sell in their business for Bitcoin.
• 1:07:09
  And so this will be the third one we've done of these.
• 1:07:12
  And they've been really awesome. They're they're really showing
• 1:07:15
  that there's like a bit of an appetite for this kind of
• 1:07:18
  circular economy thing. It came from the idea that, you
• 1:07:21
  know, we don't want to have to have the government's permission
• 1:07:25
  to transact in the things that we want most.
• 1:07:27
  And so we were like, this is this is started with Ben being
• 1:07:30
  like, I really need a rancher that will take Bitcoin, right?
• 1:07:34
  And so he found a rancher. It turns out there's a lot of
• 1:07:37
  ranchers that will take Bitcoin because ranchers are naturally
• 1:07:40
  aligned with the ideals of Bitcoin.
• 1:07:41
  And so we ended up with a whole bunch of different vendors
• 1:07:45
  selling all kinds of good stuff. And yeah, it's it's it's a
• 1:07:49
  really good feel good environment that the biggest
• 1:07:53
  benefit that we've gotten out of it is like all of the vendors
• 1:07:56
  meeting each other and all of the like hardcore people in the
• 1:07:59
  Bitcoin community getting to know all these vendors and
• 1:08:02
  having outlets for the stuff that we really want.
• 1:08:05
  And, and realistically, like it's not super far fetched that
• 1:08:08
  the day will come where if, if the province of Alberta was
• 1:08:14
  currently, the province of Alberta is still unlucky enough
• 1:08:17
  to be a part of Canada within the next few years, we may very
• 1:08:21
  well end up with a situation where they start telling us like
• 1:08:25
  you can't eat more than X amount of red meat or something like
• 1:08:28
  that. And you know, we're, we're
• 1:08:31
  getting ahead of that. So we've now got a network of
• 1:08:33
  people who can produce meat and people who can buy meat, and we
• 1:08:39
  don't need the government's permission in between.
• 1:08:42
  Yeah, and and I I think the what and Ben was telling me about it,
• 1:08:45
  what what you guys are doing with the I I think the name is
• 1:08:49
  SAT market, right and the importance of Bitcoin circular
• 1:08:54
  economies, right, because and this kind of, you know,
• 1:08:57
  connecting this what we were talking about during the news
• 1:08:59
  segment, right? And it it's such a different
• 1:09:02
  world. So people kind of have to unplug
• 1:09:05
  a little bit and really kind of think about their relationship
• 1:09:09
  with the state differently and their ability to become
• 1:09:13
  sovereign individuals. Because you can do that.
• 1:09:17
  If you can take care of a, if you can take care of a baby, if
• 1:09:19
  you can make a sandwich, you can take self custody.
• 1:09:21
  You can do it, I promise you. But the, the, the, the circular
• 1:09:27
  economy concept and the SAT market is so important because
• 1:09:32
  you don't have to ask permission, right?
• 1:09:35
  This is you can just set up a market and everyone can transact
• 1:09:39
  and you don't have to go through an intermediary.
• 1:09:41
  And governments love Co opting the intermediaries because
• 1:09:44
  there's only a handful of them. Right?
• 1:09:46
  But if it's peer-to-peer, good luck bro.
• 1:09:50
  That's what I got to say. Good luck.
• 1:09:51
  Like you're seeing them freak the F out with just peer mass
• 1:09:56
  scale peer-to-peer communication.
• 1:09:58
  I don't think we've reached a critical mass with mass scale
• 1:10:02
  peer-to-peer money, especially in the West, Right?
• 1:10:05
  But you're starting to that you're starting to see them kind
• 1:10:08
  of react like, no, like, I can't believe this because it's their
• 1:10:12
  source of power. It's theirs.
• 1:10:14
  That's how, that's how these politicians are worth hundreds
• 1:10:16
  of millions of dollars off a government salary.
• 1:10:18
  This is how they're able to play God.
• 1:10:20
  This is how they're able to, you know, invade foreign countries
• 1:10:24
  for a decade or two decades. And this is how they're able to
• 1:10:28
  spend trillions of dollars more than they collect in tax revenue
• 1:10:33
  year after year. Just to give you a perspective,
• 1:10:35
  a trillion dollars is more than the GDP of most countries on
• 1:10:39
  planet Earth. And they're just able to do
• 1:10:41
  that. Why?
• 1:10:42
  Because they have the God like power of being able to create
• 1:10:44
  money. So I think that, you know, as
• 1:10:47
  they freak out, they might become a little bit more
• 1:10:49
  tyrannical. I thought that this was the
• 1:10:52
  route that the United States was heading into heading until, you
• 1:10:55
  know, it became kind of this political issue.
• 1:10:57
  And then the Democrats kind of had to walk it back a little
• 1:10:59
  bit, even though I know for a fact they still want that
• 1:11:02
  because they literally all voted for the central bank digital
• 1:11:05
  currency. So, yeah, I, I think we, we
• 1:11:09
  might get to a point that if you live in a specific jurisdiction,
• 1:11:13
  you might have to vote with your feet, right.
• 1:11:15
  And Bitcoin empowers you in that sense because it gives you the
• 1:11:18
  ability to take your money with you.
• 1:11:21
  If you, you know, if you write down your seed word, if you're
• 1:11:23
  in a pickle, you're gonna memorize that shit.
• 1:11:25
  I promise you, bro. If your whole family's wealth
• 1:11:29
  and work and all that stuff depends on you memorizing 12
• 1:11:33
  fucking words, you're gonna memorize that.
• 1:11:35
  You're gonna make your little kids memorize that too, right?
• 1:11:39
  So, yeah. But this is the power that
• 1:11:41
  Bitcoin gives you peer-to-peer money.
• 1:11:44
  And I think the circular economy and what you guys are doing with
• 1:11:46
  the SAP market is incredibly important.
• 1:11:49
  I kind of wanna go back to the Bitcoin rodeo.
• 1:11:52
  So we have, I messed this up last time when I said in Canada.
• 1:11:55
  So I'm gonna say it right this time.
• 1:11:56
  JP Spears and we have you. Still did it wrong.
• 1:12:01
  What? I said that's what I said in
• 1:12:03
  Canada, didn't I? Here, Nico, it's right here.
• 1:12:07
  What is it? What is it Opti?
• 1:12:11
  JP. JP Sears, I said Spears, didn't
• 1:12:14
  I? Yeah, yeah.
• 1:12:16
  JP Sears. You're right.
• 1:12:19
  Dave's right. No one knows his name, but I
• 1:12:22
  love this guy. I literally see him on YouTube
• 1:12:24
  and I watch his videos all the time.
• 1:12:26
  He's absolutely hilarious. So.
• 1:12:29
  So he's going to do an A whole set on Bitcoin stand up.
• 1:12:34
  Yeah. And then he's also going to be a
• 1:12:36
  part of the roast of, of BTC sessions as as Will will you and
• 1:12:41
  I. I'm so excited, man.
• 1:12:44
  I'm going to, I, I, I'm already I've, I've been preparing.
• 1:12:47
  I, I usually like when I, I used to get nervous when I moderated
• 1:12:52
  panels, but this is going to be my first roast.
• 1:12:54
  So I'm, I'm a tad nervous. I have to have to prepare the
• 1:12:57
  jokes because the jokes are going to be good.
• 1:13:00
  If JP Sears is there, man, he's going to go all out on Ben.
• 1:13:05
  Yeah, so it's an interesting thing because he's obviously the
• 1:13:10
  the only professional stand up comedian in the in the roster
• 1:13:14
  here that's going to be roasting Ben, but he probably also knows
• 1:13:18
  Ben the least of everyone else who's roasting him.
• 1:13:20
  And right. And so it's like, I think we're
• 1:13:23
  going to have some good stuff. We're going to make it pretty
• 1:13:25
  short. But I think the the fact that
• 1:13:29
  Netflix just came up with that roast to Tom Brady was really
• 1:13:31
  good timing because there hasn't been like a really good roast
• 1:13:34
  like that in a long time. And I think it's kind of like
• 1:13:36
  brought the idea back to people's minds and yeah, it's I,
• 1:13:41
  I think it's going to be hilarious.
• 1:13:43
  Absolutely man, I, I can't wait. It's and just like 'cause it's
• 1:13:47
  what you said, like Ben's such a nice guy that you know, I, I,
• 1:13:51
  what are his facial like what, what's his facial expressions
• 1:13:54
  going to be like? Like what's he like?
• 1:13:56
  What's he going to say? What's he going to do?
• 1:13:59
  So I'm excited for that Opti. Well, oh, go ahead, Dave.
• 1:14:03
  Yeah, and Ben's going to be Ben's just like any other roast.
• 1:14:06
  Ben's going to be roasting everyone back, so you better be
• 1:14:09
  ready for that. Oh, I, I mean that this, this
• 1:14:12
  sounds great. I, I can't wait.
• 1:14:14
  This is going to be all. So it's like full Netflix with
• 1:14:16
  Tom Brady roast where everyone just kind of roasts everyone.
• 1:14:21
  Yeah, we're, we're going to, we're going to do the same
• 1:14:22
  structure, but we're going to keep it a lot shorter because
• 1:14:26
  we're probably all a lot worse at it than all of the people
• 1:14:29
  that were that were doing the Tom Brady roast.
• 1:14:32
  So, but I think there's gonna be, we're gonna keep it short
• 1:14:36
  enough that it can be punchy and it can generate some hilarious
• 1:14:40
  stuff. And I think the group we've got
• 1:14:41
  is pretty solid. Yeah, I'm looking forward to it.
• 1:14:46
  It's one of my favorite conferences of the year.
• 1:14:48
  Guys. I went last year.
• 1:14:50
  I had an incredible time. It's freedom loving.
• 1:14:54
  It's a beautiful city up there. I always say this and every
• 1:14:58
  single Canadian that tells me this is like, but wait until the
• 1:15:01
  winner. So I went during the yeah,
• 1:15:07
  absolutely, 100%. So yeah, it's gonna be
• 1:15:11
  absolutely awesome. I'm bring, I'm gonna bring up my
• 1:15:13
  wife. My baby's gonna come with me
• 1:15:16
  too. She's like four months old.
• 1:15:18
  It's gonna be her first country that she travels to outside of
• 1:15:22
  the US. She's gonna go to Canada.
• 1:15:24
  So I'm, I'm really looking forward to it.
• 1:15:26
  It's gonna be awesome. Alberta.
• 1:15:30
  Yeah. We're, you're, we're, we're.
• 1:15:33
  Manifesting the. Balkanization of Canada into
• 1:15:37
  actuality, right? It's we can't.
• 1:15:39
  It's, it's not Canada, guys, it's Alberta.
• 1:15:41
  It's Alberta. It's, it's, it's a different
• 1:15:43
  country. It's a different oh man, I
• 1:15:45
  can't, I can't wait for the Balkanization of of these nation
• 1:15:49
  states. They're too big.
• 1:15:50
  They're too big. The only thing that's keeping
• 1:15:52
  them together is Fiat money. If Fiat wasn't a thing, they
• 1:15:55
  wouldn't. What the What the like what?
• 1:15:59
  Canada, I mean, Sorry. California and Texas, like they
• 1:16:02
  don't, you know, it's they're two different vibes, like
• 1:16:05
  Alberta and, you know, not to be specific with any of the other
• 1:16:10
  provinces, like, you know, let's just say that there's
• 1:16:12
  differences. There are.
• 1:16:15
  Yeah, I have to. Answer a question here from the
• 1:16:17
  chat. The SAT market.
• 1:16:19
  Somebody asked where and when the SAT market is.
• 1:16:22
  Yeah, the SAT market's the day. Before the Bitcoin Rodeo.
• 1:16:25
  So it's July 1st, which is also Canada today.
• 1:16:28
  It's our national holiday, but we're doing our market on that
• 1:16:31
  day and it is at the White Diamond Conference Center, which
• 1:16:34
  is in downtown Calgary. That's where we've done the last
• 1:16:37
  couple. It's a really nice little venue.
• 1:16:39
  And yeah, it's kind of like the kick off to the whole, to the
• 1:16:44
  whole Bitcoin rodeo. And I should also mention, so
• 1:16:47
  like I said, the the market is on the 1st, the conference is on
• 1:16:50
  the 2nd and the 3rd, the technical first day of the
• 1:16:53
  Calgary Stampede, the the sneaky peek night is the 4th.
• 1:16:59
  And so for anybody who's not familiar with the Calgary
• 1:17:02
  Stampede, it's like the this giant sort of western themed
• 1:17:06
  party that takes over the whole city.
• 1:17:08
  It's the world's largest rodeo. We have a massive fairgrounds
• 1:17:13
  and a bunch of, you know, dozens of country concerts in the, in
• 1:17:17
  the city at the time. And it's a great time to come to
• 1:17:21
  Calgary. So somebody was like, it's a,
• 1:17:23
  it's the STD super spreader event, which which might be
• 1:17:27
  true. So the the whole the whole town
• 1:17:31
  kind of turns into like slutty Cowboys and Cowgirls for like
• 1:17:36
  like a week and a half. If you haven't seen it, yeah, it
• 1:17:41
  sounds like Miami and Halloween. So, OK, all right, all right,
• 1:17:45
  I'm, I'm, I'm excited. I didn't get, I didn't get a
• 1:17:47
  chance to go to the Stampede last year, but I'm super excited
• 1:17:51
  to go this year. Guys, go to bitcoinrodeo.com to
• 1:17:55
  get your tickets. You can use promo code simply
• 1:17:57
  like I said one of the best Bitcoin events Bitcoin
• 1:18:01
  conferences I've I've I've gone to whole lot of fun incredibly
• 1:18:05
  funny one of the one of the highlight presentations last
• 1:18:09
  year. What was it Dave is the the the
• 1:18:11
  guy that won was hilarious yeah. So the the funniest things last
• 1:18:15
  year, we. Had the, the, the Bitcoin
• 1:18:21
  elevator pitch, which I think is really good like, and I kind of
• 1:18:23
  put that on 'cause I feel like mine is really good and I wanted
• 1:18:26
  it to get better, but I didn't, it didn't get better, but I, it
• 1:18:30
  was still hilarious. And you can actually see that
• 1:18:33
  it's up on the live section of BTC sessions YouTube channel.
• 1:18:37
  Both days of the live stream are up there live up there still.
• 1:18:41
  And I think it was the first day when we did the, the elevator
• 1:18:46
  pitch. And the guy who won was a guy
• 1:18:47
  named Colin Sullivan from a company called Mitt Green, which
• 1:18:51
  does heating with Bitcoin miners based out of Vancouver.
• 1:18:55
  They're a pretty cool company. But his little bit was about he,
• 1:18:59
  he basically recorded a phone message of himself calling
• 1:19:03
  himself talking about how he doesn't like Bitcoin as the Bank
• 1:19:08
  of Canada basically. And that was that, that that was
• 1:19:12
  the winner. So, but there's a couple of
• 1:19:13
  great ones in there. And then we also did the The Bad
• 1:19:17
  Twitter Takes award, but Ben and Nico were judging and that that
• 1:19:22
  was pretty hilarious as well. Dude, it was it was such a fun
• 1:19:25
  event. Great memories and I, I can't
• 1:19:28
  wait to go back guys. Go to bitcoinrodeo.com, use
• 1:19:32
  promo simply to get a $69 discount and we'll see you in
• 1:19:38
  Calgary. Thank you guys, everyone for the
• 1:19:40
  congratulations on the thousandth episode.
• 1:19:43
  I think it was very fitting to have Dave on the thousandth
• 1:19:45
  episode of Simply Bitcoin. And Dave, thank you so much for
• 1:19:49
  joining us. Appreciate it.
• 1:19:50
  Thank you for having me. Do you have any final thoughts
• 1:19:53
  for the? Audience.
• 1:19:55
  That's a good question. I mean, I, I think I got
• 1:19:58
  everything. Just come to the Bitcoin rodeo.
• 1:20:00
  It's going to be the most fun Bitcoin conference of the year.
• 1:20:03
  Absolutely, 100%. All right, everybody go to.
• 1:20:06
  Bitcoinrodeo.com Use promo code Simply $69.00 OFF This is your
• 1:20:12
  Simply Bitcoin live episode for May 29th, 2024.
• 1:20:16
  I'm your host Nico. This is my legendary Co host
• 1:20:18
  Optimist Fields. He survived an epic storm in
• 1:20:21
  Dallas and of course Dave Bradley.
• 1:20:24
  Dave Bradley is the strongest and best looking Bitcoin
• 1:20:28
  entrepreneur in Canada. Don't you forget that and go to
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  anybody wants to know how. I became the strongest and best
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  You can find that on my website at bitcoinbrains.com.
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  Go to bitcoinbrains.com and you'll find out why.
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  Why Dave is the strongest and best looking Bitcoin
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  entrepreneur in Canada. I've read it down so I I don't
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  mess it up, unlike JP Sears's name, which now I got it third
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  time's the charm anyways guys love you all.
• 1:21:01
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  was brought to. You by bitcoinwell.com on a
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