Latest / Simply Bitcoin / Niko Jilch | Life Under Central Bank Digital Currencies | Simply Bitcoin IRL

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Niko Jilch | Life Under Central Bank Digital Currencies | Simply Bitcoin IRL · Simply Bitcoin

• 0:01
  Hello everybody. Welcome to another episode of
• 0:05
  Simply a coin IRL. I guess today is Nico.
• 0:11
  I'm going to totally put your last name and I'm sorry Jill CH
• 0:14
  and I'm going to ask for for that.
• 0:16
  Correction the second really excited about this.
• 0:20
  But before we start the show, I want to give a shout-out to who
• 0:23
  Powers the show. So on bitcoin.com it's the best
• 0:26
  place to buy Bitcoin by bitcoiners for bitcoiners they
• 0:30
  incentivize self custody and dollar cost averaging.
• 0:34
  It's awesome. Check out.
• 0:36
  Check out Swan Bitcoin.com. Today, I want to introduce or
• 0:40
  no. I want to bring on stage better
• 0:42
  said, niconico. How do you actually say your
• 0:45
  last name? Hi Nico is very nice to meet
• 0:47
  you. It's Unique.
• 0:49
  So it's at the end. Yes.
• 0:52
  So he's okay. He's something today.
• 0:55
  Yeah, it's not that easy. I'm sorry.
• 0:57
  Okay no, it's a common occurrence and you go butchers
• 1:01
  names. The only ones I could do is like
• 1:04
  American names and then Hispanic names that those little ones.
• 1:10
  I could actually pull off, you know, you know canute's man
• 1:14
  home. Yeah, yeah, sure I've met him
• 1:16
  yet. We actually, we spent we spend
• 1:18
  almost a week in Bulgaria a couple weeks ago.
• 1:21
  Yeah. Oh okay.
• 1:22
  Yeah, I love him and I love his work.
• 1:25
  But yeah, when he came on the show, I said, I said I said Newt
• 1:29
  someone home I think he's used, he's used to getting his name
• 1:33
  bushes. Well, it is, but now I know it.
• 1:36
  Now, I know it knut Sven home and Nico jick with an allen key.
• 1:41
  Lee Ji Hyo. Yeah, he's all don't worry,
• 1:44
  don't worry. Don't worry.
• 1:45
  It's just Nico. You'll remember Nico, right?
• 1:48
  It's not so hard for you. Yeah.
• 1:50
  But I have to start getting into the habit of getting the getting
• 1:53
  the names, right? Anyways look I love your work,
• 1:57
  man. If anyone hasn't checked out his
• 2:00
  sub stack I definitely recommend.
• 2:01
  And it and there's something on your sub stack that that called
• 2:05
  my attention and it was your piece on why central bank did
• 2:10
  Central Bank. Digital currencies are a
• 2:12
  terrible idea. And the reason I wanted to talk
• 2:14
  about today is because he was finally announced you have the
• 2:18
  screenshot right here. It was finally announced by the
• 2:23
  New York Federal Reserve and multiple global banking.
• 2:26
  Giants. Start a 12-week digit or digital
• 2:31
  dollar. Islet.
• 2:32
  And we also know that the B Administration and their digital
• 2:35
  assets framework that they were released.
• 2:38
  Not only did they talk badly about Bitcoin but what the piece
• 2:42
  that was very striking to me, was this report that was
• 2:46
  released by the US Treasury and in the name of that report, it
• 2:51
  was cold the future of money and that entire report I kid, you
• 2:56
  not, they mentioned stable coins, they mentioned payment
• 3:00
  platforms like Venmo cash app, etc, etc.
• 3:04
  And then in that entire report, they never mentioned Bitcoin.
• 3:08
  So, in the eyes of governments and central banks, right,
• 3:12
  Bitcoin is just a distraction. And now, what's really
• 3:15
  interesting, though is also in the future of Money Report, they
• 3:18
  never mention the reason as to why people are opting out of
• 3:23
  government money, which is censorship and inflation, they
• 3:28
  never mentioned that, right? So?
• 3:29
  And of course, it makes sense because They love that.
• 3:32
  They love that ability to print money.
• 3:35
  They love that privilege of being able to create money for
• 3:38
  free that everybody else has to work for so Nico.
• 3:42
  What are your thoughts on Central Bank, digital currencies
• 3:45
  what's going on over there? So I think it's a good idea to
• 3:50
  start at the beginning. Basically, in 2012, the ECB, the
• 3:54
  European Central Bank, the actually had a paper on bitcoin
• 3:58
  that it's called, it was called digital currency schemes and it
• 4:00
  was a paper on bitcoin and enderlin dollar from second
• 4:04
  life. So they had this these two, we
• 4:07
  your digital token, things in one paper and they actually had
• 4:10
  a page in there about Austrian economics and the economics
• 4:14
  reasons behind Bitcoin and the idea.
• 4:17
  Behind Bitcoin. And they so they mentioned that
• 4:21
  Bitcoin was was, was was made was founded was discovered may
• 4:25
  be in order to have an alternative to government money.
• 4:29
  But this this kind of reasoning, this kind of narrative was
• 4:34
  forgotten later on and today we have a situation that is a lot
• 4:37
  more, you know, emotional, we had in the wake of the fbx
• 4:43
  collapse. We have German Central bankers
• 4:46
  and ECP, Central bankers, Going on into the media Sigma, it's
• 4:49
  all, it's all bad. And, you know, I also like the,
• 4:53
  it uses too much energy, did you know it uses too much energy and
• 4:56
  and this is the bait. The best reason the best, the
• 4:58
  best reason we have to introduce centre-back digital currencies.
• 5:02
  So so I think There's many, many angles to talk about this.
• 5:08
  There's many, many ways you can, you can arrive here.
• 5:12
  You also mentioned that there's Banks and credit card companies
• 5:16
  involved with with sentiment should currencies.
• 5:18
  Actually the guys who are literally building them, the
• 5:21
  money printing machines. They come from Germany, and they
• 5:26
  are also involved. Also trying to come up with some
• 5:28
  software's for central bank. So, first and foremost, it's a
• 5:32
  business for some or a potential business for people to provide
• 5:35
  Ride the software. And then there's of course, the
• 5:38
  policy side of it. And right now, it's a bit like
• 5:43
  it's within Central Bank circles, it's a bit.
• 5:46
  Laggy is G. It's something that everybody
• 5:48
  can just talk about it be smart about, right?
• 5:51
  And the real question is, are they dismissing Bitcoin because
• 5:58
  they feared so much or are they dismissing it?
• 6:01
  Because it's just they cannot fathom that there might really
• 6:04
  be an alternative and Just say, well it's a fad because they
• 6:08
  cannot ever be a real alternative to the the wonders
• 6:11
  of Central Bank Fiat money. But when you really look into
• 6:15
  into what Center virtual currencies will bring to the
• 6:17
  world. Well, first of all, it's not
• 6:19
  much from a consumer perspective.
• 6:21
  I mean, it's even hard to explain to anybody what digital
• 6:26
  Central admin is supposed to be. Because most of my money is
• 6:28
  already digital and not even like the Bitcoin even when you
• 6:32
  talk about feared and then there is the problem of geography.
• 6:35
  So, So why would we need digital money and, and, but it stops at
• 6:42
  it stops at the border, right? So, from a European perspective,
• 6:46
  it's really for them, they're very nervous, the ecb's super
• 6:50
  nervous because they have the problem of the Chinese coming
• 6:53
  from the East. And having, you know, already
• 6:56
  Advanced Digital money and then they have the problem of the
• 6:59
  u.s. coming from the west. By having the dollar, which is
• 7:03
  already basically, which is already the The world's Reserve
• 7:07
  currency, the world's most important currency the world's
• 7:09
  commodity currency. It's also the stable coin for
• 7:14
  the world. You know, when you look at the
• 7:15
  Crypt exchange, you don't need a Europe, stable coin, besides tax
• 7:19
  reasons, there is no need for it.
• 7:21
  I can use it as a dollar stable kind as well and and then you
• 7:25
  have the Euro, you know? And we're supposed to be only
• 7:28
  using the Euro and, and so, at least when it comes to the
• 7:34
  called the Even they can't really get around it.
• 7:40
  They could, you know, basically have digital countries zones
• 7:47
  that are basically like digital prisons but it really makes no
• 7:50
  sense. When you look at it from first
• 7:51
  principles, of course, but to World basically needs is one
• 7:54
  digital money and that is going to be Bitcoin and from an
• 7:58
  economics perspective, it's totally it's totally easy to
• 8:00
  understand but they are they are not going out without a fight.
• 8:05
  Absolutely, not. No.
• 8:07
  Selena and I completely agree with that last part right?
• 8:11
  Is that they're not going to go out without a fight and I think
• 8:15
  the reports and and Nico what we're Nico and Opti.
• 8:19
  I mean myself and Opti better said are in this very privileged
• 8:25
  position where you know we have awesome Partnerships that allow
• 8:30
  us to cover the news on a day-by-day basis and I
• 8:35
  fundamentally I fundamentally believe.
• 8:37
  Eve that is something malicious. It is not.
• 8:40
  They don't actually really care about the energy usage.
• 8:42
  And the reason I say that is because if you look at the
• 8:44
  United States, right? In the digital assets framework
• 8:48
  released by The White House, they were basically saying that
• 8:53
  if the Bitcoin mining industry isn't able to adhere to certain
• 8:59
  standards which no other industry including gold mining
• 9:04
  is made to adhere to we should And it.
• 9:08
  All right. Just like communist China.
• 9:10
  So and also another example is Norway.
• 9:14
  Norway is very interesting because we know that 98% of
• 9:18
  energy production in Norway is comes from renewable energy
• 9:23
  sources and specifically in the north where the majority of
• 9:27
  Bitcoin mining happens 100% of the Bitcoin miners are powered
• 9:34
  by renewable energies, but certain political parties.
• 9:37
  In Norway, still wanted to ban Bitcoin mining.
• 9:42
  Right? So I don't know.
• 9:44
  Nico, maybe, I'm maybe I'm just so used to being attacked as a
• 9:49
  Bitcoin content creator. But to me, it sounds a lot more
• 9:53
  malicious. And oh, we just don't know any
• 9:57
  better. Well, if you when you look at
• 10:01
  some of the announcements from the ECB, especially the
• 10:04
  announcements of Central Bank, digital currencies, they I went
• 10:09
  out with the argument of yeah we're going to use a lot less
• 10:12
  energy so so they already they let their guard down that one
• 10:17
  time. You know, we don't really care
• 10:18
  about Bitcoin but our thing is going to use a lot less energy.
• 10:21
  Did I say more? I mean less and then and then
• 10:25
  there is this this because I come from the media, so I see, I
• 10:29
  see everything that's happening in the media, and it's rather
• 10:32
  easy to see how these memes and these narratives are getting
• 10:36
  getting you no place. In the media.
• 10:38
  And my argument is this if you really care about the the energy
• 10:44
  usage of Bitcoin, why do you never talk about gold mining?
• 10:47
  You know, gold mining is a lot more energy intensive.
• 10:50
  It's a lot worse for the for the environment and nobody ever
• 10:53
  talks about gold mining if you really care about Bitcoin, being
• 10:57
  used for illicit activities. Why is nobody ever talking about
• 11:01
  Manero? It doesn't make any sense, why
• 11:03
  is there? No politicians and Central
• 11:06
  Bankers going going? About more narrow in the news.
• 11:10
  If you really care about Ponzi schemes, being being built upon
• 11:14
  Bitcoin. Why is you know, FTX and
• 11:17
  embankment Freda still is still getting still getting like the
• 11:22
  nice treatment even by the New York Times today, which was
• 11:24
  absolutely appalling. I mean, I've no idea what's
• 11:26
  going on there. I mean, it's we actually most,
• 11:31
  we look to the u.s. being a bit smarter about these things, but
• 11:35
  it seems like right now, you're dropping the ball there.
• 11:38
  And and and then there is the political, like you said, the
• 11:42
  mean-spirited approach and that is coming mostly from the
• 11:45
  political left from from the Socialist left because they
• 11:49
  rightly see Bitcoin as a threat to their yeah.
• 11:53
  Germany over basically the money usage because Bitcoin will turn
• 11:57
  off the faucet and if the faucet gets turned off, the power goes
• 12:01
  away. And this is not only true for
• 12:03
  the central bank's. It's also true for the
• 12:05
  politicians. So they They are widely taking
• 12:09
  it within Europe, within the European Parliament within the
• 12:12
  different countries. One country more one country
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  less. It's mostly, it's interesting.
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  We you're right, it's the Nordic countries like Sweden I didn't
• 12:21
  know about Norway. Norway is not in the EU because
• 12:23
  they have too much oil so they don't join the EU because then
• 12:26
  they would have to do some other rules that didn't want to do
• 12:30
  just like Switzerland on the EU because they have too much
• 12:32
  money. So they are they are going to be
• 12:35
  smarter about this anyway but But but the, the the arguments
• 12:42
  are mostly because they I think they smell that, this is
• 12:46
  something that could really hurt the power and that's why it has
• 12:51
  to go and I actually did an interview with with bagga,
• 12:56
  what's his name? I'll come up with his name was
• 12:59
  first name, he's a member of European Parliament, who
• 13:02
  actually was the guy who was in charge of mica, the Gets off in
• 13:08
  crypto assets regulation that's coming out of the EU Parliament
• 13:11
  and he talked in my podcast he talked about men to see.
• 13:14
  He's coming from the conservative side from the
• 13:16
  German conservative side. And he said, you know all of
• 13:19
  this it was not about Bitcoin at all because it because Bitcoin
• 13:22
  is is not part of that legislation but the leftists the
• 13:26
  Socialists and the green part is they actually tried to put in a
• 13:29
  proof-of-work bandwidth in this like legislation without him
• 13:32
  even noticing so they are. It's on the agenda is especially
• 13:36
  on the agenda. Our of the European left right
• 13:39
  now and you can see this, when you look closely, you can see
• 13:41
  this in the in the in the window politicians and you can also see
• 13:45
  in the in the central bank's because they say they are
• 13:49
  independent and not political but everybody there has some
• 13:52
  political affiliation and if they are going to to to to fight
• 13:57
  Bitcoin, it's mostly coming from the left which is not saying
• 14:00
  that the right is an ally brought, it's probably not, but
• 14:03
  they don't worry about Bitcoin so much.
• 14:07
  No. Go ahead.
• 14:08
  Go ahead. I'm it's okay.
• 14:12
  Sorry. I thought you thought you were
• 14:13
  done talking but look so it's interesting that the concept of
• 14:20
  of it's coming from the political left and I we started
• 14:24
  picking up that pattern very quickly.
• 14:26
  New York state which is you know it's it's run by you know the
• 14:30
  political party in the United States is the Democrats and also
• 14:35
  you know, full full Mining ban a full proof of work.
• 14:39
  They actually waited till after the election to sign that into
• 14:42
  law. But yeah, they pass a law there
• 14:45
  as well. Now, the reason that's
• 14:47
  interesting to me is because the left and to me, this is a
• 14:51
  tragic. This is tragic to me but Bitcoin
• 14:55
  has this one of my, one of my favorite features of Bitcoin is
• 14:59
  that it exposes everybody's incentives, right?
• 15:02
  And the political left has been sold as we are for the little
• 15:06
  guy. You We are for the person that
• 15:09
  can't take care of him, can take their tank, can't take care of
• 15:13
  themselves. But unfortunately, right.
• 15:15
  The reality is that every time you print money, it's a wealth
• 15:19
  redistribution of mechanism from the lower middle classes that
• 15:22
  don't have, means the means to save and assets and the wealthy
• 15:26
  benefit from asset inflation. And of course, the government
• 15:29
  benefits because they, you know, they enrich themselves via the
• 15:33
  money printing, right? They get to pay it whether it's
• 15:35
  a war or a social program. That they can't afford but they
• 15:39
  can afford due to the money Printing and and that part is
• 15:43
  heartbreaking to me, you know, because I really believe that
• 15:47
  again. It's not monolith.
• 15:49
  You know, there's people on the right that don't like Bitcoin,
• 15:51
  but I agree with you that the pattern, the troubling pattern
• 15:55
  is that the main attackers on bitcoin, on Bitcoins proof of
• 15:59
  work and what keeps it uncorruptible is coming from the
• 16:03
  political left. But I also have a little bit of
• 16:05
  Hope because we're To see, you know, shout out to chat out to
• 16:10
  this awesome podcast. It's called the progressive case
• 16:13
  for Bitcoin, right? We have a Jenner.
• 16:15
  So who's on sitting on the Bitcoin policy Institute and
• 16:19
  they sit on the left and their big advocates for Bitcoin, their
• 16:23
  big advocates for proof of work. Do you believe that that will
• 16:27
  ever? Because at the end of the day, I
• 16:29
  fundamentally believe that Bitcoin is a political and it's
• 16:32
  for people on the left and four people in the right.
• 16:35
  Do you do you ever you ever see a Worlds where that, you know,
• 16:41
  the current pattern that's happening today.
• 16:43
  You know, starts to dissipate and we have support, we have
• 16:47
  support for Bitcoin coming from the political left and coming
• 16:51
  from the political while I write, because I find them.
• 16:54
  I fundamentally believe that it helps both sides on the right
• 16:57
  hand side, it's about sovereignty.
• 16:59
  And the left hand side, it's about the little guides about
• 17:01
  helping the little guy and what better technology is there.
• 17:06
  But having a current Currency. Where if you're working on, if
• 17:09
  you're working, you get to keep all of all of what you worked
• 17:13
  for ya, rather than how it is today, where you work and you're
• 17:17
  being stolen from. We're privileged to live in
• 17:20
  countries that the inflation rate isn't anything too crazy.
• 17:23
  Even though, I know it's about 10% in Europe today, in Germany
• 17:26
  better said, but do you ever see that changing so, There's two
• 17:36
  things here, the Fiat money and feed money.
• 17:39
  Inflation is absolutely the exploitation of the working
• 17:42
  class. I mean it in every Marxist
• 17:45
  should be fighting this but the political left as an
• 17:51
  organization is probably not going to embrace Bitcoin.
• 17:54
  Because because they, I mean, one of the 10, the 10 points in
• 18:00
  the, in the Communist, Manifesto is literally talking about one.
• 18:04
  Bank to rule them. All right, so that would be the
• 18:07
  digital Central Bank decentralized.
• 18:09
  Digital currency right? Which is, by the way, one of the
• 18:12
  reasons why the banking system and the bankers really don't
• 18:15
  like send to back digital currencies.
• 18:16
  That the moment they moved in Bitcoin and they're still in the
• 18:21
  background, but I talked to them.
• 18:22
  The moment they moved from Bitcoin was the moment when the
• 18:24
  Central Bank started talking about sent to a digital
• 18:26
  currencies, because send you a digital currencies, can totally
• 18:30
  kill the banks. And also, they can, they can
• 18:32
  give the, the Central Bank a way to bail.
• 18:34
  The little guy and let the banks fail, which would probably be a
• 18:39
  good idea to let some banks fail.
• 18:41
  But they don't want to be. They are too small to be failed,
• 18:44
  right? They want to be too big to fail.
• 18:46
  So, so there's going to be conflict there.
• 18:50
  There's also going to be the question in Europe, which is
• 18:52
  absolutely, and answered, so far, in my opinion, is first of
• 18:56
  all, it's the ECB even within their rights to introduce a
• 19:00
  centre-back digital currency. That they mean the the lawyers
• 19:04
  Need to be talking there because the scent ECB is, is a framework
• 19:09
  that is used by 19 different nation states.
• 19:11
  And it's not like there is like, we're not the same, right?
• 19:15
  We use the same currency, but it, there is no certainty there
• 19:20
  that they can just introduce Des.
• 19:21
  Des, Des totally new thing. That is not defined yet, right?
• 19:25
  And then then there is the question if it gets introduced.
• 19:28
  And if we need to change the treaties because if we change
• 19:32
  the treaties, that that touch the euro, And the European
• 19:35
  Union. In some countries, there will be
• 19:38
  referendums and I can already tell you how the referendums are
• 19:41
  going to end. But we have a very interesting
• 19:44
  way of dealing with referendums in Europe, which is 21
• 19:48
  referendum after the other until until you know that the outcome
• 19:51
  is, as they wanted to be, we have with her dad in certain in
• 19:55
  certain topics years ago before the euro crisis even so.
• 20:01
  So there is this then there is the question of the of Eastern
• 20:05
  Europe. When you go to Eastern Europe,
• 20:07
  when you talk to a, to a group of young people, you know, about
• 20:13
  Bitcoin, the Eastern Europeans will get it immediately because
• 20:16
  their families have lived through communism.
• 20:18
  Their families have lived through height, hyperinflation,
• 20:21
  and they will get it immediately.
• 20:24
  Not even just the inflation part more, the censorship resistant
• 20:28
  and the control part, the East, the Western Europeans are
• 20:31
  saying, aha. How about we try some communism?
• 20:33
  You know, has never been tried. Yeah, communism.
• 20:36
  And its really sad. It's really sad.
• 20:38
  But it's the truth and it's changing, but, but we haven't
• 20:42
  experienced it. And there has never been in
• 20:45
  Western Europe where don't have this strong commitment to the
• 20:50
  market economy and capitalism that you have in the US.
• 20:53
  So you don't have that, you know, as a politician you can
• 20:56
  never go on stage and say, I like capitalism.
• 21:00
  You're done that day, you're done right?
• 21:03
  So that's the problem. But ironically the euro is also
• 21:08
  in its in its core, it's very, it's very very but it's kind of
• 21:13
  similar to bitcoin because the countries that the joined the
• 21:16
  bureau gave up their National currency.
• 21:18
  They gave up the monetary sovereignty.
• 21:21
  As you know we have modern monetary theorists idiots
• 21:24
  running around in Europe because they like the idea but in the
• 21:27
  end it doesn't really work because these countries do not
• 21:29
  have monetary Serenity. They cannot print their own
• 21:33
  money. Austria cannot It's on money now
• 21:36
  that was the idea that's how it was sold.
• 21:38
  And then of course, all the the rules were broken when the, when
• 21:43
  the crisis hit and now, the central bank is just monetizing
• 21:46
  that that without saying. So I we have high inflation and
• 21:50
  we have Christine Lagarde who does not know what she's doing.
• 21:52
  At the head of the ECB and, and in the end, it's it's the
• 21:58
  question for me in the end. Should not even be.
• 22:01
  Will there be a central bank? Digital currency.
• 22:03
  The question is, will the Eurozone?
• 22:04
  I've this because I've actually been somebody who, who likes to
• 22:08
  your? Oh, I like the idea of the Euro
• 22:09
  being being a challenger to the dollar, but right now, it's not
• 22:14
  looking, it's not looking good. And I don't know if I still like
• 22:18
  it because because as a supporting mechanism for what's
• 22:21
  happening within the European Union, it's probably not doing
• 22:26
  any good because since the last couple of months especially
• 22:30
  under fondle and the European commission president, Not very
• 22:35
  many, not many good ideas have come from her, you know, she
• 22:38
  wants more control, more money, you know, whatever.
• 22:42
  So so with the question about the political writing, the
• 22:45
  political left, I think it's possible in some instances
• 22:49
  because I think that the, that the people, the people who
• 22:54
  joined the protest, the people who try and the parties, the
• 22:57
  people who join the leftist parties, the the people who
• 23:01
  actually want to change things, they will end up.
• 23:04
  At Bitcoin and I can see this today, we're in Germany.
• 23:07
  We have the same thing. We have like in the u.s. we have
• 23:10
  leftists bitcoiners and we also have fight with fights between
• 23:13
  libertarian bitcoiners and leftist bitcoiners and you know
• 23:16
  Bitcoins are very disagreeable people and Twitter is not
• 23:19
  helping but but but there are some who get it and funnily
• 23:27
  enough. Like the like the very first
• 23:29
  let's say mainstream generation of Bitcoin has have been left
• 23:34
  It's but they basically they are salty now because they didn't
• 23:39
  buy, or did they sold too early and not a hate it.
• 23:42
  So, there's a, there's like this, there's like this, this
• 23:44
  anti crypto entire Bitcoin. Because now, I business as well
• 23:48
  like like this deal guy and some other guys in America, we also
• 23:53
  have them in Germany. Now they go to the talk shows
• 23:55
  and talk about energy usage and and all that stuff, you know,
• 24:00
  and now of course because of FDX they have they have a very good
• 24:03
  time. But but so, the political left
• 24:07
  is not loving it. They are more on the mmt train
• 24:11
  right now. They just want to print it all,
• 24:14
  you know, the basically the and the political, right?
• 24:18
  Yeah. Well, it's it depends how you
• 24:20
  define political, right? Really, because we have more
• 24:22
  than one party and even like the conservatists interest part,
• 24:26
  you're not that right? And then the right parties are
• 24:28
  really, really on the right side.
• 24:29
  You know, very nationalistic, so so and they don't Talk about the
• 24:35
  whole money thing at all. Really, you know?
• 24:37
  So so it's really hard to say, if how quickly will become a
• 24:43
  political issue. I think that the u.s. is, is far
• 24:46
  far more advanced when it comes to that subject 100%.
• 24:52
  And it's unfortunate to me. It's a tragedy because I see
• 24:56
  Bitcoin, as helping every single human being, and hopefully over
• 25:01
  time that starts to shift. Anyways, I wanted To read this
• 25:05
  passage because it's a very strong passage and it was one of
• 25:08
  it was one of your sub stack post, and it says the year is
• 25:13
  2050 cards. Cash has largely disappeared
• 25:17
  from everyday life. Anyone caught with any form of
• 25:20
  paper money's considered suspicious drugs, money.
• 25:23
  Laundering sabotage caches dirty.
• 25:26
  The currency is digital now but our digital payment transactions
• 25:30
  have long been monitored fully. I've long been fully monitored.
• 25:33
  This has given a Animus and Central Bankers, completely new
• 25:37
  possibilities, as well as the police.
• 25:40
  And I, and having this conversation, this is a wet
• 25:44
  dream. They're not even hiding this
• 25:46
  anymore. This is what they want.
• 25:47
  They want you to own nothing and be happy.
• 25:49
  They're their own propaganda is saying this, but that is only
• 25:54
  possible. If they have complete control of
• 25:56
  money, the monetary policy of money of what you can, and what
• 25:59
  you can't spend, and Bitcoin is a fundamental threat to that,
• 26:04
  right? And I guess that explains the
• 26:07
  the digital attacks Nico. Could you?
• 26:10
  Elaborate of what life would be like under a central bank?
• 26:14
  Digital currency for everybody. So, basically, there's, there's
• 26:19
  this German movie that has, I think has had some success in
• 26:23
  the u.s. it's called. Just leave them to understand
• 26:26
  life of the others. It's about life in, communist
• 26:28
  Eastern Germany. And it's about this one guy who
• 26:32
  spies on some other guy and makes it his life's mission to
• 26:36
  spy on him. Basically, you know, since he's
• 26:38
  basically sits across the street and spies on him for years and
• 26:41
  that will be, that will be what we have.
• 26:43
  We would have one sent by digital currency and there is no
• 26:45
  way around this because Once you have this, you have this honey
• 26:49
  pot of information politicians politicians police and even
• 26:52
  Central Bankers will choose to use it.
• 26:54
  So life and with, with totally totally control center by
• 26:58
  virtual currency will be absolutely horrifying because
• 27:02
  not only do you have the censorship and the political
• 27:05
  control and the the the surveillance, you know, that is
• 27:08
  why Edward snowden's talking about this all the time because
• 27:11
  surveillance is his topic, you know, not only, you have to
• 27:14
  surveillance the really scary part is the Wrists.
• 27:18
  Because right now, we are in a situation where Fiat money into
• 27:21
  Central Bank experiment is on its last legs.
• 27:24
  And with knowing this for a very long time, but we didn't know
• 27:28
  how how creative they will get with prolonging the system and
• 27:32
  Central Bank, digital currencies.
• 27:34
  And this is also why I put economists before even like
• 27:37
  Central bankers and politicians because enter police.
• 27:40
  Because economists are crazy, especially Keynesian
• 27:43
  macroeconomics, who think they can, they can steal the economy
• 27:46
  in any Direction, right? They want, they want us to not
• 27:50
  only own nothing. They also want us to to, they
• 27:53
  also want to steer into, you know, social credit score
• 27:56
  system. You bought this, maybe it has
• 27:59
  too much, you know, CO2 emissions, so neck.
• 28:03
  Tomorrow, you cannot buy something else.
• 28:05
  And you already have this in China, where people cannot send
• 28:07
  their kids to the right schools because they said something on
• 28:10
  the Chinese Twitter there was not communist enough, it's
• 28:13
  absolute insanity. And the thing is that this works
• 28:17
  in China and it will probably work in Russia because these
• 28:19
  countries are very autocratic and very collectivist.
• 28:22
  And in the end, the question is, are the people going to accept
• 28:27
  it in the so-called free world in the so-called liberal West,
• 28:31
  right? Because I'm absolutely of the
• 28:34
  opinion that as long as we as we, as we fight back, we do
• 28:38
  stand a chance. This is not a certainty.
• 28:41
  Absolutely. Not it's not a certainty on the
• 28:42
  technical side because you don't know how they're going to do it.
• 28:46
  They don't know how they're going to.
• 28:47
  Do it, you know? Because if you have a send you a
• 28:49
  digital currency, nothing can go wrong.
• 28:50
  If you get ha ha, you're going to do?
• 28:52
  You know what? When it's a, when the media says
• 28:54
  you did Euro just got hacked so what's going to happen then, you
• 28:56
  know, with the Euro even if they're just a rumor about it.
• 29:00
  Getting heck the second thing is the second thing is where are
• 29:05
  they going to get the developers?
• 29:06
  You know where they going to deal?
• 29:07
  Central banks are not computer computer company so they're
• 29:10
  going to buy it from some private company like they're
• 29:12
  doing. Now this disease things with
• 29:15
  MasterCard and the bank's you know.
• 29:18
  I actually like to say, you know, if you're young and if you
• 29:20
  and if you, if you if you're into computers, if you like to
• 29:23
  do something with money, maybe you know, get a job at some of
• 29:26
  those institutions and some, you know, maybe leave some bucks
• 29:30
  because because this is, this is an important fight for our
• 29:34
  future. We can, if we lose this, we
• 29:37
  really have a huge problem and I don't know, you know, how far
• 29:44
  along we are. But I do think that the day that
• 29:47
  If we push back and if the information spreads faster than
• 29:51
  they can develop their surveillance currencies that we
• 29:55
  do have a chance to stop this. Really, I 3D think we do because
• 29:59
  we also have Bitcoin and Bitcoin.
• 30:01
  I mean, can be it can be stopped.
• 30:03
  You tell me Nico, Absolutely not.
• 30:08
  The incentives are way too great for the honey badger to the
• 30:14
  incentives are look, I'll give you an example Nigeria, right?
• 30:20
  We had this very famous post that was released by the United
• 30:24
  Nations. And it made this whole case
• 30:27
  about how we can't let developing countries adopt
• 30:33
  Bitcoin, and use Bitcoin as a standard.
• 30:36
  And their solution was try to regulate the on, and off ramps,
• 30:40
  making it very difficult for people.
• 30:42
  And then the second solution is, we must introduce our own
• 30:46
  digital currency and they did just that in Nigeria and what
• 30:51
  was fascinating. The the case study about Nigeria
• 30:54
  is fascinating because it's exactly like you said, Nico
• 30:57
  earlier in Western Europe, they still haven't burnt their finger
• 31:02
  with with a collectivist ideology and Eastern Europe
• 31:05
  myself. I'm originally from Venezuela,
• 31:07
  right? We can you smell that and you're
• 31:09
  like, oh my God, I've seen this before Eastern Europe, they
• 31:14
  smell they, like I've seen this before, things aren't free,
• 31:18
  there's always a cost Nigeria is fascinating because they tried
• 31:22
  their country, their government currency is called the naira and
• 31:26
  the government in hopes of keeping people using the
• 31:30
  government currency. They relax, they release the E.
• 31:32
  Naira, that was backed by all the academics backed by all the
• 31:36
  Dividuals backed by all the bankers.
• 31:38
  It utterly failed and right now it's estimated that between 30
• 31:42
  to 40 percent of the Nigerian youth population is using
• 31:46
  Bitcoin. And why is that?
• 31:48
  Because the incentives of Bitcoin an on sensors, a
• 31:52
  censorship resistant and a cap Supply.
• 31:55
  Meaning it's a deflationary currency will always be an
• 31:59
  inflationary currency and a sensory currency and Nigeria is
• 32:03
  great because Nigeria Their inflation rate is, is over 50%.
• 32:10
  It's some absurd amount. So what incentive do listen to
• 32:13
  someone in Nigeria, has to adopt a central bank digital
• 32:16
  currencies, which is why I completely believe we will win
• 32:20
  at the end and and it will and it will win in the in Africa,
• 32:25
  South America, and Asia first, because people really needed
• 32:28
  there and here we understand it. Technically, we understand it
• 32:33
  philosophically, and yes. Now with the Inflation.
• 32:36
  Raging people are getting more interested and and it goes hand
• 32:41
  in hand with people losing faith in the government structures.
• 32:45
  And we've seen this, we've seen this with covid.
• 32:48
  It started like everybody was basically saying, oh, my God,
• 32:51
  you know, that the government needs to help.
• 32:53
  We've been we, you know, govern us harder, lock us up at home.
• 32:57
  Everybody was on the same page. I was actually saying, you know,
• 33:00
  let's do this for two weeks and then and then get through it.
• 33:02
  And then it's done, right? Because it was such
• 33:06
  Psychologically stressful time, right.
• 33:10
  And then with time, you know, people started asking questions
• 33:13
  and people were getting more more suspicious of the
• 33:17
  activities and especially here in Austria, interred in Germany,
• 33:21
  also to an extent. It's also interesting to see
• 33:23
  that the Pew politicians are just actually utterly
• 33:27
  incompetent. They are basically idiots and
• 33:31
  it's hard to say that. And it's hard to see that, but
• 33:33
  it's also it's also a little bit.
• 33:36
  It of, you know, comforting to see that because they don't have
• 33:38
  a big plan, they just, they just do whatever.
• 33:41
  Needs to be done to, to get, you know, through the week.
• 33:44
  Basically, this is also something that ties into the
• 33:48
  idea of the seven individual. This book from 1995 where they
• 33:51
  say, that people would get more rights digitally and more
• 33:55
  possibilities than that and Pull It politics will not be so
• 33:59
  important that politicians will have to try and be, you know,
• 34:02
  clowns basically is to actually get the attention, you know,
• 34:05
  that's how Get trumpet. That's how we get Johnson and
• 34:08
  quilts, and Austria. And and, and now, I mean, people
• 34:15
  are starting to ask more questions.
• 34:17
  The war in Ukraine is the next thing, you know, you know, you
• 34:20
  might be on one side, you might be at the other side, you might
• 34:22
  be undecided. But you know, that, you know,
• 34:25
  there is not a whole lot of bullshit coming from the media
• 34:28
  and especially interested in Austria because I was in the
• 34:30
  middle of Europe, but we're not NATO.
• 34:32
  So here, the media is a bit more, you know.
• 34:36
  Looking both sides, at least in theory.
• 34:39
  I don't really have a like, a strong opinion but but and also
• 34:44
  then there is like the real stories.
• 34:45
  You know, I've top, I've been talking to a girl from Ukraine
• 34:48
  who took her money out in Bitcoin.
• 34:51
  You know, I've actually I'll publish a podcast with her on
• 34:56
  the substrate that you showed fixed is called fix the money.
• 34:59
  So so there's the real stories. They're the real stories of
• 35:03
  people using Bitcoin to help. Themselves and others.
• 35:09
  But yeah it mean when you look at an image area is also
• 35:11
  interesting. It's they'd actually bent bit
• 35:14
  coil a couple of like two years ago, they banned Bitcoin and the
• 35:19
  Bitcoin usage went up three fold within a couple of weeks because
• 35:22
  the people say, well, if the government bans, it we have to
• 35:25
  try it, you know. And and there was a great
• 35:28
  article in the guardian of all places that actually really did
• 35:32
  a very good job of writing about this and do.
• 35:36
  Documenting this process, how the government utterly failed to
• 35:39
  stop Bitcoin and do you know why the article was so good?
• 35:43
  Because it was actually written by a Nigerian who went out on
• 35:47
  the street and talk to the people and not just some guy in
• 35:50
  London who had to go to his next, you know, lunch meeting,
• 35:54
  right? And, and today are still
• 35:57
  journalism like that being done. But very rarely and and there
• 36:02
  you get a glimpse of what people really do.
• 36:03
  I mean, I've heard stories about, you know, you said you
• 36:05
  were This trailer, right? I've heard stories about houses
• 36:08
  being built in Venezuela with Bitcoin mining already built in,
• 36:11
  so they can heat it with the governor and the funniest thing
• 36:14
  about autocratic and socialist governments from Venezuela to
• 36:18
  Iran, is that they always subsidized energy because if you
• 36:21
  don't subsidize energy, you get your head chopped off, but it
• 36:24
  got by the people. You know, you can hang from the
• 36:26
  next from the next tree. So you need to subsidize energy
• 36:29
  so people can heat their homes and cook their food, right?
• 36:33
  But if you give them subsidized energy they will use that
• 36:35
  energy. You to find some Bitcoin because
• 36:37
  the the currency is worthless. So you actually give them the
• 36:41
  energy to help themselves but I mean, yes, that's the
• 36:45
  incentives. But do we really go from point A
• 36:49
  to point B without any a lot of trouble?
• 36:52
  Probably not. There will be a lot of trouble,
• 36:54
  and it's already started. It's already started.
• 36:56
  And, and there will be more, I don't know.
• 37:00
  I mean, I think if we see politicians really, embracing
• 37:03
  Bitcoin at some point, and I think that will happen because I
• 37:06
  mean you've met one or two Bitcoin is right?
• 37:09
  And they are very passionate about Bitcoin and they are not
• 37:12
  going to vote for anybody who doesn't like Bitcoin.
• 37:14
  So and and we are basically one issue voters around and the new
• 37:20
  another party. But how do you say what's the
• 37:23
  word for like a group of waters? There's a word read.
• 37:27
  A group of a group of Coalition of this case, it's a vote.
• 37:31
  Yeah. But yeah, it's it's fascinating
• 37:37
  watching this play out. They don't know what to do.
• 37:40
  And they'll never admit as to why the it is, which is
• 37:45
  fascinating, right in Nigeria, the UN the IMF, the hostility of
• 37:50
  Bitcoin by the IMF, the World Bank, the ECB Federal Reserve
• 37:54
  they'll never acknowledged as to why people are seeking an
• 37:59
  alternative, right? It's like they're avoiding the
• 38:01
  inflation topic there. They're they're, they're
• 38:04
  completely, you know, trying to brush that aside and that's the
• 38:08
  reason right? Lookin, and, and unfortunately,
• 38:11
  it's what you said, because people are looking at Bitcoin
• 38:14
  more from a speculative basis in the United States right there.
• 38:18
  Not that incentive isn't there, but if I meant as Wella, if I'm
• 38:21
  in Nigeria and the question is, yes, support the central bank
• 38:26
  and government used their currency versus.
• 38:29
  Let me actually put food on the table, right?
• 38:32
  It's a clear. It's a very clear decision every
• 38:36
  single time and I completely agree and that's something that
• 38:38
  I've always said for many years now and a buddy of mine, a calyx
• 38:43
  gladstein wrote a book about this called Financial privilege.
• 38:46
  The reality is that sixty sixty percent of the world does not
• 38:50
  have the privilege of living in a country that has a stable fiat
• 38:54
  currency. That's not stealing from you
• 38:56
  enough for you to actually realize and do something about
• 39:00
  it. But anyways, I wanted to Pivot a
• 39:02
  little bit and talk about because We talked a whole lot
• 39:04
  about the, the demon coin Central Bank, digital currencies
• 39:08
  humans. But one thing, though, one
• 39:11
  positively, I mean, the implications of the whole world
• 39:15
  being on an easily accessible hard money standard are
• 39:19
  absolutely staggering. If you have millions and
• 39:22
  millions of Africans actually being able to, you know, save
• 39:28
  money their money and actually use their money.
• 39:29
  Like, it's supposed to be used, who knows where the next I must
• 39:34
  sound is going to come from. Who knows where the next Jeff?
• 39:37
  Bezos is going to be born how much human potential has been
• 39:40
  wasted to inflation corruption around the world.
• 39:43
  We don't know. And we have a whole class of
• 39:46
  economists who say, well, it's, you know, the money can't be
• 39:49
  hard. If the money is hard and, you
• 39:51
  know, we don't know what to do. We don't know how to steal the
• 39:54
  economy, but that's, of course, total bullshit.
• 39:57
  I mean, I had to coming Rhyme Time inside the can who's
• 40:01
  actually an Austrian Economist from Austria on The podcast and
• 40:04
  he gave me this statistic said, you know, where the the country
• 40:07
  was the most per capita Economist was actually Soviet
• 40:11
  Union because you need a columnist.
• 40:12
  If you want to know, you know, do some hearing some steering in
• 40:17
  the link, you don't need any Economist.
• 40:19
  We need to, we need to stop, you know, building economists.
• 40:23
  We need Engineers, we need doctors, we need, we need
• 40:27
  probably more content creators but we absolutely do not need
• 40:30
  more economists and because they are not 99% of them would never
• 40:36
  get a job in the free market, they all will work for
• 40:38
  government, right? And and thinking about a
• 40:43
  monetary system that actually works for itself that works for
• 40:47
  everybody and actually works, it's absolutely amazing.
• 40:52
  And so what I try to do when I when I go on like like
• 40:56
  television or podcast with like mainstream media, I basically I
• 41:01
  give them the the idea of we Talk about, you know, robots
• 41:05
  taking our jobs, right? We talk, but we always talk
• 41:07
  about robots, taking the jobs of the little people.
• 41:10
  You know the woman who works in Supermarket she gets, she loses
• 41:14
  her job because of a computer, but I like to think that
• 41:18
  Christine Lagarde, who lose their job because of computer,
• 41:20
  and the guy who talks shit about Bitcoin, the Frankfurter
• 41:23
  allgemeine, it will lose his job because of a computer because we
• 41:26
  do not need these people. They don't even do that job very
• 41:29
  well. You know, the inflation is
• 41:31
  Raging, and if it's not raging, it's too low.
• 41:33
  It's Was a crisis that always needs to be some some, some
• 41:37
  emergency money printing package.
• 41:40
  It's it literally does. Officially does not work, but
• 41:44
  they still act like they are the guardians of the universe.
• 41:47
  So at some point you know, push will come to shove it.
• 41:51
  A question in Europe will always be will it be in this situation
• 41:58
  that we have right now with the European Union or Euro?
• 42:01
  Or will that just go away and we go back to 2?
• 42:03
  Two, two, two, two Nations which is totally an option and know
• 42:07
  many people would actually welcome it.
• 42:10
  Of course, we need to keep like a couple of treaty so we can
• 42:13
  cross borders and we don't have to pay for Roaming In Another
• 42:17
  Country and stuff like that, but that's not going to be that
• 42:19
  hard, but that's a bit in the future.
• 42:22
  I think 100% the thing that I found fascinating with what
• 42:29
  you're saying Nico was and it's something that the sovereign Did
• 42:33
  touch upon right. Is that the it's not only
• 42:36
  Bitcoin, but the internet is going to breed this
• 42:40
  entrepreneurship worldwide. The likes of which we've never
• 42:43
  seen before and I've actually experienced this myself, right?
• 42:47
  I hire bitcoiners all the time. I don't even know who what their
• 42:51
  real names are, sometimes they're on the other side of the
• 42:54
  world and they give me work. And I pay for that work like
• 42:59
  look, here's here's I don't need to know your name.
• 43:01
  I don't need to know who you are and that Is going to benefit
• 43:05
  developing countries the most because they've been cut off
• 43:09
  from the financial system completely.
• 43:12
  And what blows my mind Nico is that the IMF, the United
• 43:17
  Nations, which were pitched to us, as institutions that were
• 43:21
  supposed to help us. In fact, in the United Nations
• 43:24
  report at the very top, their slogan is literally quote,
• 43:29
  prosperity for all right, and that's bullshit.
• 43:33
  Prosperity for all as long as we have control.
• 43:36
  But it's the fact that they have control is what's causing and is
• 43:41
  what's stopping prosperity for all in the first place.
• 43:46
  And this kind of tie this in with what you were saying about
• 43:49
  Christine Lagarde, you know, Jerome, Powell all these Central
• 43:53
  Bankers, all these institutions, the IMF Bitcoin completely
• 43:58
  disintermediated them they no longer need to exist.
• 44:01
  Now we have we know no wonder monetary policy is going to be
• 44:05
  for the next hundred something years right thanks to bitcoin
• 44:09
  and Satoshi they don't need to exist.
• 44:12
  And what I'm seeing Nico is that they're trying to justify their
• 44:16
  existence to everybody and you're starting to see little
• 44:20
  totalitarian slips out here and there so and trying to beat you
• 44:24
  into the ground and saying we do need to exist.
• 44:28
  You you couldn't survive without the without us and it's it's
• 44:32
  bittersweet to You see it? You're like Yep.
• 44:35
  They're losing their freaking out because of it.
• 44:37
  But at the same time there we're definitely entering the then
• 44:42
  they fight you stage for sure. Yeah, we're in the middle of
• 44:45
  window and it's very hard to, you know, see how we are going
• 44:49
  to get how we're going to get into the this future without
• 44:53
  like these institutions because these institutions are so
• 44:56
  important to the way we live today, right?
• 44:58
  I mean, even the even the, the, the Nobel prize in economics
• 45:02
  gets paid for but by the Central Bank.
• 45:05
  Yeah. And and then of course the IMF
• 45:09
  and the World Bank have both been introduced in order to
• 45:12
  stabilize this that the system of Bretton Woods because they
• 45:16
  basically introduced the stabilization to stabilization
• 45:19
  mechanism because they knew it wouldn't work out of the gates
• 45:23
  and then, of course, like bureaucracies always do they
• 45:27
  find new things to do, right? The bank of international
• 45:29
  settlements was set up in order to in order to facilitate the
• 45:33
  payment. Of gold that from Germany to two
• 45:36
  friends. After the first world war Nico,
• 45:40
  I can tell you that, that has been paid and the bank of
• 45:43
  international settlements is still there.
• 45:46
  You know, they're very powerful and nobody knows what they're
• 45:48
  doing the Swiss police not even allowed to go into the premises,
• 45:52
  you know. If they are, they are above the
• 45:53
  law. This is also a thing that we
• 45:56
  have to talk about at some point, you know, because because
• 45:59
  of course I mean if these institutions need to get
• 46:01
  dismantled not only Anomaly but also practically.
• 46:05
  Then we need to talk about, you know, how to do this legally
• 46:08
  basically. But this is also probably in the
• 46:12
  future. So maybe they maybe you know, at
• 46:15
  some point they'll probably get going to buy Bitcoin in order to
• 46:20
  justify their own existence. Maybe that's in which they hold
• 46:22
  gold, right? They hold gold they hold it to
• 46:26
  control it. I mean, they do I think they do
• 46:29
  I don't I mean of course. I don't know but I've at least
• 46:33
  I've been In the Austrian Central Bank and I've seen the
• 46:35
  gold with my own eyes three times because we actually got
• 46:38
  the gold, hope we got a large part of it home, half of it, it
• 46:43
  was it was stored outside of Austria in order to keep it safe
• 46:46
  from the Russians officially, but now we got at least half of
• 46:51
  it home. Why did you get it home?
• 46:52
  Because because the government's do not trust, the after 2008.
• 46:59
  You know, the government's are not trusting the financial.
• 47:03
  Uh system is much as it did before.
• 47:04
  So at least having some gold within your country but
• 47:07
  country's borders sounds like a good idea and actually the the
• 47:12
  Euro the whole Euro system has more like almost 50% more gold
• 47:17
  in the US has. So there is also that that part
• 47:20
  they could they could try and play the gold card basic
• 47:22
  actually before they do before they buy Bitcoin 100% and Nico.
• 47:28
  I want to take advantage of the fact that let's take advantage
• 47:31
  of the last, you know? 10, 15 minutes of the podcast.
• 47:35
  And we've been talking about, you know, the demon coin we've
• 47:38
  been talking about the last boss, right?
• 47:41
  Which are Central Bank, digital currencies.
• 47:43
  And what I, what I what I want to spend the rest of the podcast
• 47:46
  is talking about the alternative and the alternative is Bitcoin.
• 47:49
  I always say this, maybe it's a little bit hyperbolic, but it is
• 47:52
  what it is, Bitcoin or slavery, Bitcoin is freedom.
• 47:56
  Central Bank, digital currencies is slavery.
• 47:58
  That's the world that they want for us.
• 48:00
  They, you see it in the propaganda?
• 48:01
  They want these passports, they To control the money, if they
• 48:04
  control, if they have, if they enable these digital digital
• 48:09
  digital currencies. Look at what already happened in
• 48:12
  Canada, but they had to go through it.
• 48:14
  They, at least had to go through a bank.
• 48:16
  With these CB D C's will enable them to do is flick of a switch.
• 48:20
  You have a wrong political thought and they're already
• 48:22
  rolling this out in China, which is, it's crazy.
• 48:25
  So when anyway, go ahead and there was, there was this
• 48:28
  article that I always show in my, in my, in my talks about the
• 48:32
  the German Disband, the German Central Bank, actually having it
• 48:36
  like a some conference with the Chinese Central Bank about how,
• 48:40
  what to do with the digital Euro, you know, which absolutely
• 48:43
  appalling to me because the Germans are not supposed to
• 48:45
  take, you know, cues from the Communists.
• 48:49
  It's because at least the bundesbank is still.
• 48:54
  I mean Germans love the pain, this pain because the queen has
• 48:57
  been gave them the the dmarc, the German Mark after the war
• 49:01
  after the inflation, you know, Germans.
• 49:03
  And austrians hate inflation because they had hyperinflation
• 49:06
  the 20s. And we still, you know, people
• 49:08
  still talk about it. So I'm totally with you when it
• 49:15
  comes to to bitcoin has slavery, took me a while to get it but
• 49:19
  spending the end, once I realized that it connects really
• 49:22
  gives us a fighting chance because gold really doesn't
• 49:25
  gold. Just gives us like like I can I
• 49:28
  can hold my goals and be very scared you know but this is
• 49:31
  actually a minute least we can have And going down.
• 49:36
  No, it's your spot on and and gold is limited.
• 49:39
  Like look, I'm a big corner and I would tell you, I'm the first
• 49:42
  one to tell you I love physical gold.
• 49:44
  Like if you have a big you have a bar or whatever.
• 49:46
  Do that the issue arises. When try to send that try, let's
• 49:51
  say you live in a totalitarian country, try to go across the
• 49:55
  border with a great deal of gold, you know and if it gets so
• 49:59
  bad, your bet you could bet that they will check your teeth.
• 50:03
  Teeth at the border to see if you have gold with you.
• 50:07
  How do you stop someone going across the border memorizing, a
• 50:10
  12 word seed phrase. Yep.
• 50:12
  And then that gives them hope because they could take all of
• 50:15
  their wealth with them, you know, so it completely changes
• 50:18
  it. And I'm going to use that to
• 50:19
  segue to another one of your, your articles on your fix the
• 50:24
  money sub stack. I'm going to read the headline,
• 50:26
  says the fight of of our lifetime.
• 50:28
  Yes, Bitcoin is an inflation hedge but it is much much more
• 50:32
  than that. Added that I'm sorry with it is
• 50:36
  also much much more better said with Bitcoin.
• 50:39
  We have a system that is run by the people for the people
• 50:42
  completely bypassing the broken Legacy system that centralize
• 50:46
  power in the hands of the few, but it's funny because when you
• 50:49
  hear Christine Lagarde and when you hear these monetary demons
• 50:53
  talking about it, they phrase it as if Bitcoin is a non-public
• 50:59
  money. But their Central Bank, digital
• 51:02
  currencies their Fiat. Money is somehow a public money.
• 51:06
  I don't know about you guys but I could verify what the supply
• 51:10
  of Bitcoin is. Right now I could issue Bitcoin
• 51:13
  by mining that Bitcoin it. The Ledger is completely
• 51:17
  transparent their system isn't transparent.
• 51:21
  You don't know what their monetary system is.
• 51:23
  It's a few bureaucratic Elite that get to make the rules for
• 51:26
  everybody else. So do you want to elaborate a
• 51:29
  little bit on on your post Nico, the significance of it and what
• 51:33
  World would look like under a Bitcoin standard.
• 51:36
  Okay, first of all, yeah, I mean if you if you if you really
• 51:41
  break down to the arguments, that Central Bankers make for
• 51:44
  central banks, they say that they are independent from the
• 51:48
  state, and that they fight inflation, right money, price
• 51:54
  stability. So basically two things that
• 51:56
  Bitcoin absolutely does better than them in every possible way.
• 52:00
  So that's very, very weak argument because nobody will He
• 52:03
  believes that they are independent from the state
• 52:04
  that's completely done. I mean if you believe that you
• 52:08
  need to be, you need to be treated.
• 52:10
  And are they fighting inflation? Well, no, it's not in dangerous
• 52:14
  to fight inflation. They have an inflation Target of
• 52:17
  2%. They never hit it either the
• 52:18
  other shooter, the overshoot now they're overshooting.
• 52:22
  I wrote this article actually because I was supposed to be
• 52:25
  talking about is Bitcoin, an inflation hedge in Amsterdam at
• 52:28
  the Bitcoin conference and and this is one of these, these two
• 52:33
  Talk Talking Points. I mean in the end.
• 52:36
  Yes. If you look at the Austrian
• 52:37
  economists inflation definition, like you said, I can.
• 52:41
  I can look at the the numbers of Bitcoin, Bitcoin out there.
• 52:44
  Of course, it is a fight, it's fighting the real inflation that
• 52:48
  the monetary inflation. Does it fight price inflation?
• 52:51
  We're not there yet. Maybe.
• 52:54
  When you look at average is, yes, but it's too volatile which
• 52:57
  is totally an argument. That's okay.
• 52:59
  I guess. So what did what did I write
• 53:03
  about? Well, if the thing is that they
• 53:07
  already started adding stuff like a climate score to the, the
• 53:12
  bonds, they, by within the ECP, for example.
• 53:14
  Well, first of all, the ecb's, not supposed to be buying any
• 53:17
  bonds, but now they have a climate score of what, what
• 53:20
  companies they're going to buy. So basically, yes, what it is
• 53:23
  the same argument that you're making.
• 53:25
  I will do, we want slavery to the bureaucrats or do we want
• 53:28
  freedom and the freedom with freedom, comes all the other
• 53:32
  freedoms, you know? Medium of the press freedom of
• 53:35
  expression, you know, and, and I think we need to be be using
• 53:39
  these things that are still there to fight for Bitcoin.
• 53:42
  Because like you said, 12 words in our heads that is freedom of
• 53:46
  expression that is freedom of the press.
• 53:48
  You know, that is Freedom of Information.
• 53:50
  And we can take a pick a page out of the Playbook from the
• 53:54
  crypto Wars of the 90s when they printed out the, the code for
• 53:57
  pretty good privacy and put it into a book and send it to the
• 54:00
  US Department of Justice, or Defense, I think and said, are
• 54:04
  you going to burn it or you're going to ban it, you know, and
• 54:07
  they actually bent back down now, this is probably a bigger
• 54:11
  fight because you have to fight the the central banks as well.
• 54:15
  And, and I don't know. Are we going to win this fight
• 54:19
  in, like, in front of the, the law?
• 54:22
  I don't know. But we are going to win this
• 54:23
  fight when inflation escalates like, it doesn't turkey.
• 54:27
  Nigeria in South America, actually in Argentina.
• 54:31
  They when they got that their last time, Flown.
• 54:33
  They had to sign a piece of paper that they're not going to
• 54:36
  adopt Bitcoins. Know that.
• 54:37
  Yes I did know that I did know that there's they don't even
• 54:42
  care, they don't even, they don't, it's great.
• 54:45
  It's what I was saying, Nico earlier is that Bitcoin exposes
• 54:48
  everybody's incentives, and it's there.
• 54:50
  So terrified of this thing. And by the way, why do you think
• 54:54
  that they're giving El Salvador, such a hard time because the IMF
• 54:58
  offered them a loan as well. And what do you think?
• 55:00
  One of the contingencies of that loan is right?
• 55:03
  Right? What do you think?
• 55:04
  What are the what are the, what are the?
• 55:05
  What do you think? One of the, what do you think?
• 55:08
  One of the requirements of that loan is to El Salvador.
• 55:11
  You know, so it's it's, it's absurd.
• 55:14
  It's crazy. But it kind of goes back to
• 55:17
  Niko. We were saying is, all of these
• 55:19
  institutions, we were, they were advertised to us.
• 55:23
  They have been saying that it's for the people, it's for
• 55:26
  everybody, we want the world, you know?
• 55:29
  Whatever. But in reality no, it's for
• 55:31
  their own bureaucracy. For themselves, it's not for
• 55:34
  anybody else. I think it's important to
• 55:37
  understand that most of them really believe this and most of
• 55:39
  them do not, I don't think that they are sitting there thinking
• 55:43
  about how to make the worst possible world happen.
• 55:46
  I think that they they think that in order to keep the system
• 55:49
  going, they need to do this because they don't see any other
• 55:53
  option because they would not never think about Bitcoin as an
• 55:56
  option because it can basically invalidate everything they're
• 55:59
  doing. So they're just trying to double
• 56:01
  down on what they've been doing. But when you Into the, the
• 56:03
  history of banking, it was only centralized because it was
• 56:08
  necessary. We centralized currencies,
• 56:11
  because because trade was, was, was severely hampered by having
• 56:17
  too many currencies. The bank of Amsterdam was set
• 56:20
  up, I think in 1604 and it was a precursor to the to the First
• 56:25
  Central Bank, the Swedish Riggs bank and the bank of Amsterdam
• 56:28
  was basically just the city of Amsterdam saying, you know, we
• 56:31
  have this Merchants coming to the The city twice a year or
• 56:34
  four times a year. They bring like 600 different
• 56:37
  currencies and then they try to find exchange rate is total
• 56:40
  chaos. There's an opportunity.
• 56:42
  Here we we give we make our own money, we get we get older, the
• 56:46
  money from that six hundred different currencies.
• 56:49
  We take it, we give you our money and you can use our money
• 56:52
  and trade gets gets gets, gets gets better gets easier.
• 56:56
  It's the same story with gold when you look at the history of
• 56:58
  gold coins. Yes.
• 57:00
  The state did did play a role because the state.
• 57:03
  It's all that gold was used for trade and they made easier by
• 57:09
  standardizing the the coins and by and by, you know, putting
• 57:14
  some heads of state that literal heads of state onto the coins,
• 57:19
  the Kings and princes, and then, of course, they started figuring
• 57:24
  out that they can also debase the currency by putting in some
• 57:27
  other metals. But that's a different story.
• 57:29
  I think that have You read Nick party Spookley at money?
• 57:35
  Of course. Yeah, there's a legend.
• 57:36
  I had a, he comes on the pod in a couple weeks actually.
• 57:40
  So he has he basic. I think he starts the book with
• 57:43
  the fluorine right from from from I think.
• 57:46
  What is that? 1400, I think 1400.
• 57:49
  So, do you have these small Italian city states that are
• 57:54
  basically private private companies in these times, right?
• 57:59
  A comparable to what today is a private company and they would
• 58:02
  issue Gold coins. And the gold coins would be,
• 58:05
  would be guaranteed to have a certain weight and they figured
• 58:08
  out that they need to keep them that way.
• 58:10
  Then this not in their interest to debase the currency because
• 58:14
  they are very small so they don't really need.
• 58:16
  Are they appropriate providing that money for the for the world
• 58:20
  basically and and these career coins, got such a good
• 58:24
  reputation that they were, they were used for hundreds of years
• 58:27
  within Europe as the best money. So when Bitcoin absolutely has
• 58:31
  the potential to be too. Be that for the whole world in a
• 58:34
  digital way, and if the central bank is do not see this, it is
• 58:39
  in the end, it will be their problem.
• 58:41
  But yes, they are going to certainly try and fight it.
• 58:45
  Just like any innovation has been fought.
• 58:48
  And The Innovation never comes where you expect it.
• 58:52
  You know, it's not flying cars. It's digital money.
• 58:57
  Yeah, and it's interesting because this Innovation, if
• 59:01
  we're successful Fundamentally change the relationship between
• 59:05
  individual and state and that's why it's so look at what the
• 59:10
  internet has done Bitcoin if this wins.
• 59:14
  And I really do believe it wins because incentives are stronger
• 59:17
  than coercion, it will fundamentally change the world
• 59:22
  that we live in 10, 20 years from now completely.
• 59:26
  And I think, definitely for the better anyways, I want to use
• 59:29
  the last couple of minutes Niko to talk about.
• 59:33
  About because, you know, we saw the FTX blow up and I think
• 59:36
  finally people are starting to realize to the fact that you
• 59:40
  know take self custody but also to something really interesting
• 59:43
  as well which is the concept of Bitcoin not crypto.
• 59:48
  Why is it Bitcoin not crypto? I believe that Bitcoin because
• 59:52
  of its true decentralization is the only thing that is going to
• 59:56
  be able to resist government. The the the government's attempt
• 1:00:01
  at co-opting it And making it an extension of the current system
• 1:00:05
  today. I have a few ways to look at it.
• 1:00:10
  I have an article all summer substitute that is called the
• 1:00:14
  shit coin standard. I took this from say 15 and you
• 1:00:18
  know made my own version of it because when you really look at
• 1:00:22
  it and I mean, I don't know about you, but most people start
• 1:00:25
  with some shit coins at some point when you really look at
• 1:00:29
  it. So what do shit coin was do they
• 1:00:32
  they sell your Product and based on some low IQ argument against
• 1:00:36
  Bitcoin, right? So Bitcoin is too slow here.
• 1:00:38
  Have a quicker currency, Bitcoin can not do many things, you have
• 1:00:41
  a smart contract currency, you know.
• 1:00:44
  And then you forget about the actual innovation of Bitcoin of
• 1:00:47
  being decentralized, being totally permissionless,
• 1:00:50
  especially being proof of work, you know?
• 1:00:53
  And and but then it also it also starts breaking down right?
• 1:00:57
  Especially if theorem, when you look at the proof of work thing,
• 1:01:00
  why did you theorem change the proof of stake?
• 1:01:02
  Yes, to The people who have a lot of etherium, but also
• 1:01:05
  because they know they knew that they cannot compete with Bitcoin
• 1:01:09
  for the proof of work long term because of course, - will mine
• 1:01:13
  the best longest most beautiful coin and not some other shit
• 1:01:16
  quite right, then, then Bitcoin is the only one that has not
• 1:01:23
  have the did not have an IC. O----, so, basically, the only
• 1:01:26
  one that does not pass the the, the, the famous, how a test,
• 1:01:30
  right? It's the only one that is not.
• 1:01:33
  Be controlled by some Corporation or some entity.
• 1:01:37
  Some person who's sitting in front of the microphone rambling
• 1:01:40
  on about you know it's it's it's it is the only real Innovation
• 1:01:45
  space and I took me a long time to understand this because it's
• 1:01:49
  so hard because you know, you get to pick, you get told to
• 1:01:53
  your own research. Well, the shit coiners will
• 1:01:56
  produce a whole lot of documents and a whole lot of confusion for
• 1:02:00
  you to do some research in an in the end.
• 1:02:02
  You think? Yes.
• 1:02:03
  I mean I'm going to go with Eu Te because it's the internet of
• 1:02:05
  things and it doesn't have any fees.
• 1:02:08
  It's it's basically what's so tragic about it.
• 1:02:12
  And I think we see this with FDX especially what's so tragic
• 1:02:15
  about it is that you see this you see in one sector the so
• 1:02:19
  called crypto sector, you see the solution and Innovation
• 1:02:22
  which is Bitcoin and you also see the problem and steroids
• 1:02:25
  which is fear nihilistic feared gambling, right?
• 1:02:29
  Because that's what happens when an inflationary.
• 1:02:33
  Breakdown. You also see it when it goes
• 1:02:36
  when when we talk about the gme in the meme stock thing, I mean,
• 1:02:40
  do you remember the meme stock, g-m-e, AMC, craze, then meet the
• 1:02:44
  mainstream media was all over. It was, it was painted some huge
• 1:02:48
  Uprising by the retail investor, but all they did was buy stocks
• 1:02:52
  in in dead companies and feel great about it and enjoy it.
• 1:02:57
  And not only that Nico, they stopped the trading after the
• 1:03:01
  little guy started doing too. Oh man sorry continue.
• 1:03:09
  Yeah yeah I mean I mean and but when you look at the media that
• 1:03:13
  there's been move is made and Netflix documentary is about the
• 1:03:16
  gme revolution you know where it can move it or not doing the bit
• 1:03:20
  come over because they're too scared of Bitcoin.
• 1:03:23
  And they so we have to do the Bitcoin movies which gives it
• 1:03:26
  more credibility. Anyway.
• 1:03:28
  I actually, you know that did you know that red bulls and
• 1:03:31
  Austrian company like the I'd know that.
• 1:03:33
  Yes. Yeah.
• 1:03:34
  So so I grew up in the 90s right?
• 1:03:37
  When Red Bull started. And I also wrote about this
• 1:03:39
  because there are some similarities were Red Bull
• 1:03:41
  started. It was supposed to be super
• 1:03:43
  revolutionary and super cool because it was banned in France,
• 1:03:48
  right? The friend, the French didn't
• 1:03:49
  have it for a long time was banned and Fred.
• 1:03:51
  So everybody need to buy Red Bull because some other country
• 1:03:54
  band it right there made it. Super cool.
• 1:03:56
  And then you had 200 new energy drinks.
• 1:03:59
  We were collecting them as kids. We had like a whole Our rooms
• 1:04:04
  were smelling horribly, right? Because of all the energy drink
• 1:04:07
  cans in there and everybody was like, yeah, it's the future.
• 1:04:11
  There's going to be hundreds of energy in snow, they all died.
• 1:04:14
  They all died, and then and then after 20 years, you had now you
• 1:04:21
  have cheap store brand Energy drinks that get bored by people
• 1:04:26
  who smoke two cigarettes before they even have their first
• 1:04:29
  coffee in the morning, right? And and Those are cbc's those
• 1:04:35
  are steam hisses. Oh man, that was a great.
• 1:04:41
  That was a great. That was a good analogy.
• 1:04:43
  So one of the things though Nico and tie this up is my last
• 1:04:47
  question is it's interesting because it's almost as if
• 1:04:53
  Bitcoin maximalism some call it Bitcoin toxicity.
• 1:04:57
  I was actually on a panel on bitcoin 2021 in the main stage
• 1:05:03
  And the name of the panel was why Bitcoin.
• 1:05:05
  Toxicity is necessary. What are your thoughts on
• 1:05:09
  bitcoin talks? Is some people call it toxicity
• 1:05:11
  at this point. I wear that as a patch of Honor,
• 1:05:15
  what are your thoughts on bitcoin maximalism?
• 1:05:17
  Bitcoin toxicity is it necessary in this environment?
• 1:05:21
  Is it necessary to be that way to expose the frauds?
• 1:05:26
  Because guys, I don't know about you guys, but I remember we were
• 1:05:30
  called dissing from Des informations.
• 1:05:32
  MERS. When we said that inflation was
• 1:05:34
  coming, we were called toxic when we warned people to take
• 1:05:38
  self custody and Alex machine ski.
• 1:05:41
  The CEO of Celsius was actually attacking us.
• 1:05:46
  It looks like Bitcoin Maxis have been shooting 100%.
• 1:05:52
  I mean, don't forget about, you know, do Quan buying Bitcoin for
• 1:05:57
  for the terrorists? Have?
• 1:05:58
  I mean, that was a conundrum, right?
• 1:06:00
  Because the argument was, why would you why would You be in
• 1:06:04
  favor of microstrategy buying Bitcoin, but not terrifying
• 1:06:07
  Bitcoin, right? And basically, there was a
• 1:06:09
  situation where most were most Max is basically did not have
• 1:06:13
  real argument. It just said it smelled fishy,
• 1:06:16
  right? And and it did, and they were
• 1:06:18
  right and and toxicity. It's like I said, but especially
• 1:06:26
  in Europe, you know, freedom of expression is not as as, as well
• 1:06:30
  developed as it is in the US. And it's we're not used to be he
• 1:06:33
  to talk about things that openly and we have to learn this and
• 1:06:37
  toxicity is a way to do this and there is and you need these
• 1:06:42
  districts toxicity. And if there is no toxicity
• 1:06:45
  within the Bitcoin space, yes, there is fights and whatever.
• 1:06:48
  But it's basically just a bunch of grown, of groan, dude,
• 1:06:52
  sending orange hearts at each other all day long.
• 1:06:54
  Right? Mean, my wife is like, totally
• 1:06:57
  amazed by how nice everybody is right?
• 1:07:01
  We, when we had, when we had That there was one guy saying
• 1:07:04
  this, in the chat, and I want to say hi.
• 1:07:05
  You know, when we had the Bitcoin conference in Innsbruck
• 1:07:09
  in Austria, with 900 people, in September, the guys who did the
• 1:07:12
  catering were totally astounded because everybody just, you
• 1:07:15
  know, carried the no pull, the weight up their plates and it
• 1:07:19
  basically started cleaning up after themselves, you know.
• 1:07:21
  They said they never saw something like that.
• 1:07:24
  So so Bitcoin Bitcoin or not that toxic.
• 1:07:29
  When you let them be bitcoiners but when you attack them and
• 1:07:32
  when You when you tell them no you have to take this shit coin
• 1:07:35
  and Dead cheat coin or the Central Bank.
• 1:07:37
  Digital currency. Yes.
• 1:07:38
  Then toxicity is extremely important and extremely
• 1:07:41
  necessary because you have to say no and you have to because
• 1:07:44
  if you're being too polite you know you have some some the
• 1:07:48
  sheet Corners are going to enter your space and then you have
• 1:07:51
  it's not even that we don't like these people.
• 1:07:53
  I mean they are going to end up being Bitcoin as anyway, but,
• 1:07:57
  but we need you need to have like I do I'm not going to say
• 1:08:00
  save space, right? But you need to be able All to
• 1:08:03
  have your own thing going on. And do you need to because we
• 1:08:07
  know that the the out coins are going to die out eventually so
• 1:08:11
  why we should we should we not, you know, have conferences and
• 1:08:16
  it's basis and YouTube channels committed to bitcoin, especially
• 1:08:21
  because there is so much to explore me as a journalist.
• 1:08:25
  I actually decided to go down the Bitcoin route and start a
• 1:08:28
  podcast and the newsletter. And, and the YouTube channel
• 1:08:32
  after I decided two things, first thing, I'm probably never
• 1:08:37
  going to get rich with this crypto thing because so far, I
• 1:08:40
  only lost money. And second.
• 1:08:43
  I'm going to bitcoin only because I started with you know,
• 1:08:49
  fixing the money even in my gold days there was not about making
• 1:08:53
  money was about Fixing it and and if I go Bitcoin only, I can
• 1:08:57
  concentrate on this and not and not go from one blockchain thing
• 1:09:02
  to the other and it's so confusing and you can see it
• 1:09:06
  with the people adjust its facts with the head, right?
• 1:09:09
  It's there's so many different ways to go and Bitcoin is very
• 1:09:14
  simple which is important. It says because it's supposed to
• 1:09:17
  be a global monetary Network. It cannot be too complicated.
• 1:09:20
  People need to understand it quickly and we need to do Even
• 1:09:25
  better job of explaining it. Educating it.
• 1:09:29
  You know, you are in software Hardware.
• 1:09:31
  There is many things going on more things need because I
• 1:09:35
  really believe that the chance is there and building the
• 1:09:37
  infrastructure faster than they can fight it and then faster
• 1:09:41
  than they can come up with their demon coin.
• 1:09:44
  That's the only way to do it. So so speed really is on our
• 1:09:48
  side, that's also why I actually quit my last job because I
• 1:09:51
  realized in the Bitcoin space I need to be able to move
• 1:09:55
  extremely quickly, right? So like today, I mean, this is
• 1:09:59
  by my, my second stream today, my my third interview today.
• 1:10:04
  I cannot explain this to to into an employer, right?
• 1:10:08
  Even if I'm doing this as an expert, it's impossible.
• 1:10:10
  So I need to be on my own. We go that was an absolute
• 1:10:15
  pleasure, man. I really enjoyed our
• 1:10:17
  conversation Nico. Where can people find out more
• 1:10:21
  about you? Well, first of all negro, thanks
• 1:10:23
  so much for Me, I always loved catching up with American
• 1:10:27
  bitcoiners and, and, and doing a, like, real preaching Bridging
• 1:10:31
  the ocean, right? And where can people find me
• 1:10:35
  while you can? I think you can see it on screen
• 1:10:37
  at nikhil, which is, which is Twitter, of course, we all spent
• 1:10:41
  way too much time on Twitter. It's the main Hub, right?
• 1:10:45
  My sub stack is fixed the money dotsub stack.com.
• 1:10:48
  I actually also own the domain fixed money dotnet, so I want to
• 1:10:52
  use that at some point. And my my other stuff you can
• 1:10:56
  find me on YouTube and my podcast.
• 1:10:58
  If you just Google my name, Nick really his my YouTube channel is
• 1:11:01
  mostly German. I do have a couple of interviews
• 1:11:03
  with Alex gladstein Nick Bhatia say 15 a moose look Roman Brad
• 1:11:09
  Johnson to have some some some English interviews as well and
• 1:11:13
  I'm also going to be launching a couple of podcasts that I did on
• 1:11:17
  the like not the campaign Trail but like the quarter.
• 1:11:20
  The how do you say the event Trail or convention?
• 1:11:23
  Trail? I talk.
• 1:11:24
  Greg, false and Tiff booth and Isabella Kaminsky.
• 1:11:28
  And actually I this was already in the summer and I didn't have
• 1:11:31
  the time to publish it yet but this will also come on the sub.
• 1:11:34
  Stick, thank you for having me. Awesome, Nico, thank you so much
• 1:11:38
  guys. That was another episode of
• 1:11:40
  Simply Bitcoin IRL. We will see you back tomorrow at
• 1:11:43
  12:15 p.m. Eastern Standard Time.
• 1:11:46
  For the normal show. I'm Nico.
• 1:11:48
  You can follow me on Twitter at b.
• 1:11:50
  V 7. We love you all.
• 1:11:51
  Shout out to Opti for producing in the back.
• 1:11:54
  Back, we will see you guys later.