Latest / Simply Bitcoin / Jack Mallers Explains Why Bitcoin is Going to Win | EP 1058

Transcript

Jack Mallers Explains Why Bitcoin is Going to Win | EP 1058 · Simply Bitcoin

• 0:03
  It's all going to zero against Bitcoin.
• 0:06
  It's going up forever. You're against Bitcoin.
• 0:16
  You're. Against freedom.
• 0:23
  Morning. Because I what I think is
• 0:25
  happening is really what we want to measure is your purchasing
• 0:29
  power and energy terms. And so I like oil.
• 0:34
  And so this is the, this is the SPXTR.
• 0:37
  So the S&P total returns that's what this is.
• 0:41
  So the S&P total returns, what I'm showing for those listening,
• 0:45
  since 2020, the SPXTRSPX total returns is 83.59%.
• 0:53
  So since 2020, you're up 83.59% in the SPX total returns.
• 0:59
  Now if you measure SPXTR against gold, so that's X PS:, XPXTR
• 1:05
  over USD. So in dollar terms, it's up
• 1:08
  83.59%. Is it up in gold?
• 1:12
  What's SPXTR over gold? 14.52%?
• 1:16
  OK, so you're still up. So for all the gold bugs, you're
• 1:20
  better off owning the S&P than gold since 2020.
• 1:25
  Now are you up in oil terms, which I think is energy terms?
• 1:29
  Energy is the foundation of society.
• 1:31
  It's how we do shit. No, the S&P total returns
• 1:36
  against oil is down 71.97%. What is the only thing that's
• 1:44
  S&P is down worse than oil Bitcoin, but not by much Bitcoin
• 1:49
  74%. That's So what I think we're
• 1:53
  seeing is like the dollar and the treasury market in oil terms
• 1:58
  isn't keeping up. And so people are rotating out
• 2:01
  of treasuries, out of bonds into we, we talk about harder assets,
• 2:05
  fixed supply assets, but at the end of the day, it's assets that
• 2:09
  can protect your purchasing power in energy terms.
• 2:13
  And so this to me, this is insane because there are people
• 2:17
  like our friends are like, yeah, my stock portfolio is booming.
• 2:20
  I'm up 80% since 2020. Yeah, you're up 80% in dollar
• 2:25
  terms. How much in gold terms are you
• 2:28
  up? I'm up 14%.
• 2:30
  Well, how much in Bitcoin terms are you up?
• 2:32
  You're not up, you're down 75%. So you've lost 75% of the
• 2:40
  ability to buy Bitcoin by sitting in the S&P 500?
• 2:44
  Yeah, welcome to Simply Bitcoin Live, your number one source to
• 2:46
  the peaceful Bitcoin revolution Cup.
• 2:48
  Breaking news, culture, aromatic warfare.
• 2:49
  We will be your guide through the separation of money and
• 2:52
  state. Ladies and gentlemen, coming at
• 2:54
  you live from the beautiful Puerto Rico.
• 2:57
  I'm going to be here for the next couple of weeks, starting
• 3:00
  with the cold opening. Opti's telling me to angle the
• 3:04
  mic up. I think I'm just going to put it
• 3:06
  right here, get it nice and close.
• 3:09
  But yes, Jack started cold opening with Jack Muellers
• 3:13
  basically saying the quiet part out loud, which is even with
• 3:16
  SNP, even with like real estate gains, even like with these
• 3:20
  traditional investment assets in regards to Bitcoin, you've
• 3:24
  actually lost purchasing power. This is a message that we've
• 3:28
  been trying to hammer in home for I don't know how long and
• 3:33
  I'll just read out some of these things.
• 3:35
  In dollar terms, if you have been saving in Bitcoin, the
• 3:38
  dollar is 80% cheaper oil. If you've been saving in
• 3:41
  Bitcoin, it's 91% cheaper, gold, 90% cheaper, S&P, 563% cheaper.
• 3:47
  the United States medium new house.
• 3:49
  So with housing doubling, it's 84.95 percent cheaper if you've
• 3:54
  been saving in Bitcoin. Bitcoin is the superior asset.
• 3:59
  Like Max Keiser always says, everything is going to go to 0
• 4:03
  as it relates to Bitcoin. It's just a matter of time
• 4:07
  before the world wakes up to that reality.
• 4:09
  Not to mention Bitcoins physical characteristics with a piece of
• 4:14
  real estate with, you know, let's say you own an index fund.
• 4:18
  Let's say you have stocks. In all those cases, you're going
• 4:22
  to rely on custodians, right? You have to pay, you know, fees
• 4:26
  to those custodians. Those custodians are third
• 4:28
  parties. You're trusting a third party
• 4:30
  with the custody of your wealth and your assets.
• 4:33
  And then with real estate, you have to pay property tax.
• 4:36
  Also, you have to pay maintenance.
• 4:38
  What if there's a a natural disaster, a hurricane, a
• 4:41
  tornado, you know, an earthquake?
• 4:43
  You, you have to pay for those expenses.
• 4:46
  Bitcoin, you can literally put it in a self custody cold
• 4:49
  storage wallet. Leave it there.
• 4:53
  No fees, No, maybe you have to upgrade your wallet every five
• 4:57
  or six years, but it's like minimal, maybe a couple $100
• 5:00
  that it's gonna cost you, but that's it.
• 5:03
  It's just gonna stay there, right.
• 5:05
  So not only from a maintenance perspective is it considerably
• 5:10
  cheaper, you can transfer, you can take it with you, you can
• 5:14
  send it anywhere around the world.
• 5:15
  You can't send like stocks anywhere around the world.
• 5:18
  You can't send a house anywhere around the world.
• 5:21
  It's kind of stuck where it's at.
• 5:23
  And Bitcoin is better performing now.
• 5:25
  I think the point where Mahler's pointed out, which is
• 5:28
  fascinating to me because this is something that actually Max
• 5:32
  Keiser was saying the other day when he went on the Alex Jones
• 5:36
  Show, he predicted that within 12 to 24 months, maybe it's a
• 5:41
  little aggressive. Everything was going to be
• 5:44
  energy prices were going to be repriced in Bitcoin versus
• 5:48
  dollars. And it kind of makes sense
• 5:50
  because the argument that Jeff Booth makes is that the world
• 5:55
  should be naturally deflationary, But as long as
• 5:59
  you're living on a Fiat money standard, because of
• 6:02
  government's manipulation of money and because of their
• 6:05
  coercive means, it creates this artificial, artificial,
• 6:10
  inflationary world. If you're on a Fiat standard,
• 6:13
  Bitcoin is the only asset that will actually allow you to
• 6:18
  experience the world as it should be.
• 6:21
  Due to the productivity gains of technology, things should
• 6:25
  naturally be deflationary. And that's something that the
• 6:29
  world has been psyopped into thinking, which is that somehow
• 6:32
  money has to lose purchasing power in order to function.
• 6:36
  And it is the job of us Bitcoiners to really wake people
• 6:40
  the F up to that reality because they're sound asleep.
• 6:45
  They're too busy fighting between red party and blue party
• 6:48
  and left and the right where they don't realize that the
• 6:51
  issue is broken money. So we fix the money, we fix the
• 6:54
  world. We've made a tremendous amount
• 6:56
  of progress on that front in terms of moving the Overton
• 6:59
  window. Trump speaking at the Bitcoin
• 7:02
  2024 conference was a historic event.
• 7:05
  I can't emphasize that enough. You have mainstream broadcasters
• 7:09
  from Tim Poole, Russell Brand, Tucker Carlson all dropping
• 7:13
  Bitcoin by name. It's just a matter of time
• 7:15
  before they come to the realization that Bitcoin is the
• 7:19
  solution to at least half the world's problems, because you
• 7:23
  can make a very strong argument that half the world's problems
• 7:26
  stem from rotten, corrupt, broken money.
• 7:30
  And that's exactly what Bitcoin fixes.
• 7:32
  And I think that's a great way that Mahler's pointed out the
• 7:36
  way that he broke down that case in regards to.
• 7:40
  Yeah, like, look, it doesn't matter if you, you know, you've
• 7:43
  you've invested in the best index funds, Bitcoin has still
• 7:47
  outperformed everything. Essentially the only thing that
• 7:50
  Bitcoin, you know, according to that graph in the the analytics
• 7:54
  that he was looking at, the only thing that Bitcoin, it still
• 7:57
  outperformed it, it just didn't outperform it by a a huge margin
• 8:01
  was energy. And he makes a really good
• 8:02
  point. The energy makes the world go
• 8:04
  round. But you know, Bitcoin and energy
• 8:06
  go hand in hand. Bitcoin monetizes stranded
• 8:10
  wasted energy. No other asset on the face of
• 8:13
  the planet does that. Bitcoin is truly unique.
• 8:15
  Anyway, I'm gonna bring up my coast, who filled in for me
• 8:18
  yesterday with our boy Adam O'Brien from Bitcoin.
• 8:23
  Well, of course, we got Optimist Fields in the house and we got
• 8:27
  Matt from Macro Minutes. Back in the day when Simply
• 8:29
  Bitcoin used to do the Twitter Spaces.
• 8:32
  I think this was like a year ago.
• 8:33
  Macro Minutes would come in there and drop the macro fire.
• 8:37
  So happy to have Matt back on the show today.
• 8:40
  How you doing bro? Doing well.
• 8:43
  Thank you guys for having me. I appreciate it.
• 8:45
  I was actually telling Optia offline.
• 8:47
  I feel like I had a bit of imposter syndrome at that time
• 8:52
  because I was so interested in what was going on in the world,
• 8:54
  but I didn't necessarily have the experience to always
• 9:01
  communicate what it was that I was trying to get across.
• 9:03
  And have definitely pivoted more to just leveraging my
• 9:07
  engineering background now and, and talking about that stuff.
• 9:10
  So hearing you talk about Bitcoin and its ties to energy
• 9:14
  and not losing purchasing power and energy terms is like, man,
• 9:17
  you're speaking my exact language because I'm, I'm
• 9:20
  sitting here in the parking lot of a power plant right now,
• 9:22
  literally so. Bro you dude, you literally like
• 9:26
  what do you mean? What do you mean that you're
• 9:29
  you're suffering from imposter syndrome?
• 9:31
  Eco, sorry, you need to turn down your gain a little bit.
• 9:33
  It's getting a little spiky. There we go.
• 9:36
  How's that Opti? Yeah, there we go.
• 9:38
  There we go. Makeshift studio in Puerto Rico.
• 9:41
  Makeshift studio, Makeshift studio in Puerto Rico.
• 9:45
  And by the way, the power might be a little consistent here.
• 9:48
  So Opti might have to fill in for me, you know,
• 9:51
  instantaneously if I drop out. But I, I will say that, you
• 9:56
  know, Matt, I'm so glad that you, you came on today's show,
• 9:59
  because you can break down a little bit in regards to what
• 10:03
  Jack was saying. Like it.
• 10:05
  I don't think it's a coincidence that, you know, the energy, like
• 10:09
  the the best performing things is energy and Bitcoin.
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  And I don't think they're, so I don't think it's a coincidence
• 10:14
  that they're so closely correlated.
• 10:17
  Yeah, no, I I completely agree. And I think, you know, this is a
• 10:21
  lot of people don't like this take that Sailor has.
• 10:24
  I don't really understand why there is so much backlash
• 10:26
  against it. But when he says Bitcoin is
• 10:29
  energy, I really think this is what he's getting at, right, is
• 10:32
  that Bitcoin is inexorably linked to energy.
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  Without energy, you can't have Bitcoin.
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  Bitcoin, you know, the proof of work consensus mechanism, it, it
• 10:42
  literally ties it to energy and that's why it doesn't lose
• 10:45
  purchasing power in terms of energy, or it's part of it at
• 10:48
  least. Obviously scarcity.
• 10:50
  But yeah, I just think, you know, if you go all the way
• 10:53
  back, even till like Henry Ford talked about making an energy
• 10:56
  currency, right? Because anybody who really looks
• 10:59
  into what makes modern society run, you cannot escape the fact
• 11:04
  that you have to expend energy to make modern society work.
• 11:07
  Our our modern society is built on the backbone of an energy
• 11:11
  grid and energy infrastructure that allows for each of us to
• 11:15
  basically leverage more work day-to-day in our lives.
• 11:18
  If you actually looked at in human labor terms, how much
• 11:22
  energy you're utilizing, it's ridiculous.
• 11:24
  I mean, just a real quick like fun fact, right?
• 11:27
  I, I row competitively and if you look at the wattage output
• 11:32
  that I can do for about an hour, I can make 200 watts on average,
• 11:36
  right? So I can make 1/5 of a kWh in an
• 11:40
  hour and I am dead, right. And then you look at, you know,
• 11:44
  just toasting your bread is using more than that, right?
• 11:48
  And if you think about that in human energy expenditure terms,
• 11:52
  that all of a sudden it comes very clearly into view why it's
• 11:56
  so important so. There's actually like a really
• 11:59
  famous like graph that it that's been making the rounds on
• 12:03
  Twitter where it literally shows you the prosperity of countries
• 12:09
  and the amount of energy that they're using.
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  And it's like a direct correlation.
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  Like countries that use less energy are poorer, countries
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  that use more energy are wealthier.
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  And there's this whole like death cult movement.
• 12:24
  Forgive me for like, I mean, isn't it true?
• 12:27
  Like there's like a death cult movement happening all around
• 12:30
  the world. Again, it's not everybody, but
• 12:34
  it, it's definitely popped. You know, it's definitely gained
• 12:37
  popularity where they're like attacking energy usage.
• 12:40
  They're they're it's like it like even if it's like green or
• 12:43
  whatever, it's like like energy usage is bad.
• 12:46
  And I just see that as like isn't, is that not a a death
• 12:50
  slash poverty cult? Like I can't.
• 12:53
  I can't describe it in any other.
• 12:54
  Well down on this anyone that wants you to use less energy
• 12:57
  literally wants to take you back to the stone ages.
• 13:00
  Energy use is good and we're we're gonna definitely dive more
• 13:03
  into that during the culture. But just kind of touching on
• 13:06
  what Jack Mueller, just saying, I forget where I first picked
• 13:08
  this up, but once this thought really like sunk in it, it's
• 13:13
  like it really changed my whole view on everything.
• 13:15
  And it's exactly this like Bitcoin is energy.
• 13:17
  Once energy is priced in Bitcoin, that's when we know
• 13:20
  Bitcoin is never going away. Like that's when the real, you
• 13:23
  know, hyper bitcoinization moment happened is when all
• 13:26
  energy is priced in Bitcoin. You know, we control kind of in
• 13:30
  in the naming of it. Once we move away from the Petro
• 13:32
  dollar to the petrosat, then things are really going to get
• 13:35
  kicked into OverDrive. And and this, this Bitcoin thing
• 13:38
  is going to be like so obvious to everyone out there that this
• 13:42
  is the way that the world should be priced.
• 13:43
  Absolutely I'm bullish on the Petro SAT man, that sounds that
• 13:46
  sounds funky. I like I like that name anyways,
• 13:49
  ladies and gentlemen, before we start the show, I do want to
• 13:52
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• 14:54
  Did you? Did we do this yesterday?
• 14:56
  Yeah, so I was sitting here with with Adam and I was trolling
• 14:59
  him. Live and do it again.
• 15:02
  Try it one more time. Apparently.
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  No, no, no, not earn points. You had to hit the 500 points.
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  You don't remember how? To do it, there you are but.
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  Apparently when it crashes it means someone is literally using
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  Thanks, Opti. First person to scan the QR code
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  absolutely free. All right everybody, let's get
• 15:54
  to the numbers. Lots to talk about the Bitcoin
• 15:58
  numbers, right? Ladies and gentlemen, you want
• 16:03
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• 16:07
  And the way that you do that is by properly storing your
• 16:11
  Bitcoin. And the way that you do that is
• 16:14
  when you get a hardware wallet, usually it comes with a little
• 16:16
  piece of paper and the piece of paper is labeled.
• 16:19
  It has one through 24 words, right?
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  You don't want to do that. You don't want to put down your
• 16:26
  generational wealth on a piece of paper.
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  Paper is prone to fire damage, water damage.
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  Your dog could literally eat it. So what you want to do is you
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  So head over to stampse-ed.com today and use promo code simply
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  to get a 15% discount. Hey, Nico, Nico, you got to turn
• 17:26
  your game down a little bit, bro.
• 17:27
  A little more, a little more, a little more it.
• 17:29
  Gets a little. How about now?
• 17:31
  Are we good? Maybe maybe a little more, maybe
• 17:33
  a little more. This is pretty low.
• 17:36
  There you go. Whatever.
• 17:37
  I'll turn you up over here. All right cool.
• 17:39
  At the time of recording the it's probably because I'm
• 17:42
  speaking straight into the mic. At the time of recording, the
• 17:44
  Bitcoin price is 59,770 sats per dollar 1673 block height 857,783
• 17:55
  blocks to having 192,217 having estimate March 28th, 2028 total
• 18:01
  lightning network capacity for 4 million, you know 4801 BTC
• 18:06
  capacity value 287,000,000 realized monetary inflation
• 18:11
  1.43% market capitalization 1.18 trillion Bitcoin versus gold
• 18:18
  market cap 6.82%. And the grand scheme of things,
• 18:23
  we are just getting started anyways.
• 18:26
  One of the central themes of this show is not only the
• 18:29
  disintermediation of of of money, but also the
• 18:32
  disintermediation of information and the general idea that you
• 18:38
  guys have to get through your heads.
• 18:39
  And if you've been tuning into the show or if you've just been
• 18:43
  paying attention to what's been happening, is the government or
• 18:47
  governments were not prepared for social media.
• 18:51
  They weren't prepared for millions upon millions of people
• 18:55
  communicating directly amongst each other.
• 18:59
  They weren't ready for individuals building up huge
• 19:03
  platforms by themselves and being able to say things that
• 19:08
  perhaps don't fit the official party line.
• 19:12
  One of the things that you know is a highlight of this is the
• 19:16
  latest Trump and Elon interview on X.
• 19:20
  You literally see all the legacy media outlets not even
• 19:24
  commenting on the substance of the conversation, but just a
• 19:29
  character attacking Elon and Trump, right?
• 19:32
  It's like, what is the, it's like, I didn't, I didn't
• 19:36
  subscribe to the New York Times to get your opinion on their
• 19:39
  personalities. I subscribe to the New York
• 19:41
  Times so you can tell me what the F they said.
• 19:43
  That's the whole point of a news organization.
• 19:46
  And I think one of the things that like really highlighted
• 19:49
  that was the the the rise of popularity of social media.
• 19:55
  It's not a coincidence that X is the most popular news app.
• 19:58
  People are tuning out of the regular media sources.
• 20:03
  And just like the financial system, governments always hoped
• 20:07
  that there was going to be a handful of intermediaries they
• 20:11
  can Co opt in the case of media, think about it.
• 20:15
  There's like, really like 12 notable newspapers in the United
• 20:18
  States. Before the Internet, maybe there
• 20:21
  was like 50 TV channels, of which maybe five are news
• 20:24
  channels. That's only like a handful of
• 20:26
  people that you can Co opt and you can like knock on the door
• 20:30
  and say, hey, look, I'll give you special coverage if you
• 20:34
  choose to cover the news a certain way.
• 20:37
  And there's actually a historical precedent.
• 20:39
  Back when the United States invaded Iraq, the New York Times
• 20:44
  came out with an article, and I believe that the author actually
• 20:47
  won like a prize for this and everything that Iraq had weapons
• 20:51
  of mass destruction. It came out after the fact, like
• 20:54
  five years later, that that was actually information being fed
• 21:00
  to her by the intelligence agencies.
• 21:03
  Moving forward, a couple years later, it's those same media
• 21:07
  outlets, the New York Times, The Wall Street Journal, that are
• 21:10
  releasing hit pieces on Bitcoin. The New York Times released that
• 21:14
  hit piece where they like, manipulated the color of the sky
• 21:18
  over a mining facility as if miners release like, gas or
• 21:22
  something. It's just hot air.
• 21:24
  But of course, they're trying to sell the public on a narrative.
• 21:27
  And then the Wall Street Journal article where it was like
• 21:31
  Elizabeth Warren and Co tried to convince the American public
• 21:36
  that Hamas was using Bitcoin in order to circumvent U.S.
• 21:40
  sanctions and launder money. It was only after the reaction
• 21:44
  from the online community, Twitter and Noster that we
• 21:50
  called bullshit and we said no, that's not true.
• 21:53
  Most terrorist financing is done through the traditional
• 21:55
  financial system. You're not being honest and
• 21:58
  sincere in your arguments. What you really want is to
• 22:01
  create a monopoly for a central bank.
• 22:03
  Digital currency, and it always reminds me of this Buchele
• 22:06
  article, and I reference it all the time.
• 22:08
  I'm going to read the last line. This is Buchele writing for
• 22:11
  Bitcoin Magazine for the audio listeners.
• 22:13
  They're willing to fight, lie, smear, destroy, censor,
• 22:17
  confiscate, print and do whatever it takes to maintain
• 22:19
  and increase their control over the truth and everything and
• 22:24
  everyone. Which is why we always talk
• 22:26
  about on Simply Bitcoin. This is narrative trench warfare
• 22:30
  on the battlegrounds of the Internet.
• 22:32
  These are battles of narratives. 1 narrative of truth and one
• 22:37
  narrative of lies. And here's the thing, because
• 22:39
  our system is based on incentives, the Bitcoin system
• 22:44
  and their system is based on coercion.
• 22:46
  They have to control the, they have to control the narrative in
• 22:52
  order to sigh up people into thinking that money somehow has
• 22:55
  to lose purchasing power in order to function.
• 22:58
  Here is another kind of original tweet that I had.
• 23:01
  When you know, the, the, the Trump and Elon interview
• 23:05
  happened. One of the things that you
• 23:06
  noticed is it was authentic. It was off the cuff.
• 23:10
  It was literally a conversation and it was organic.
• 23:12
  It literally felt like a phone call.
• 23:14
  Now, one of the things that we've been covering is this
• 23:18
  gentleman by the name of Mike Benz, He did a great interview
• 23:22
  on Tucker Carlson a while back, basically making the case that
• 23:27
  the government was not prepared for social media and how social
• 23:31
  media was actually being used as a tool by the intelligence
• 23:35
  agencies to change regimes all around the world.
• 23:39
  They had no idea that it was going to backfire.
• 23:43
  So they're trying to take back control of the narrative.
• 23:46
  And here's a clip from Natalie Winters interviewing Mike Benz
• 23:50
  talking about some of the things that they're doing.
• 23:53
  It's about a three to four minute clip.
• 23:55
  Welcome back to the War Room, home of a misinformation,
• 23:58
  disinformation and so much more. I'm sure with the entity
• 24:02
  organization. We're about to unpack with Mike
• 24:04
  Benz shortly. We probably get a very low
• 24:07
  rating from them, but I'm honored to be on the receiving
• 24:10
  end of that. But Mike, you guys have a great
• 24:12
  new report up at the Foundation for Freedom Online.
• 24:15
  Walking through this, you know, media literacy, again, one of
• 24:17
  these weird euphemists, classic terms.
• 24:19
  They love to use groups. That's, per the headline,
• 24:21
  operating in over 90% of American classrooms.
• 24:25
  They're targeting the children. Imagine that.
• 24:27
  Can you walk the audience through the new report?
• 24:30
  Yes, Natalie, this is a very important topic called media
• 24:33
  literacy. And if you haven't heard that
• 24:35
  that term before, you're going to be hearing a lot more about
• 24:38
  it in the months and years ahead.
• 24:40
  It is a major initiative by effectively rogue elements of
• 24:44
  the US government to institute a North Korea style control over
• 24:48
  the news programming that children and adults later in
• 24:53
  life experience. Basically, after Trump won the
• 24:56
  2016 election, the BLOB decided that they lost because there was
• 25:01
  too much alternative news. There were too many Bannon war
• 25:04
  rooms around, too many Breitbart's or Oans or Gateway
• 25:08
  pundits or you name it. And the the poor little New York
• 25:12
  Times Times in Washington Post, we're getting out flanked by all
• 25:14
  this mean, you know, nasty misinformation and alternative
• 25:19
  opinions on the Internet. And so they came together and
• 25:22
  came up with this branding device called media literacy in
• 25:26
  order to launder their control back in.
• 25:28
  Now, you know, when you hear the phrase media literacy, you think
• 25:31
  that means underprivileged inner city school kids being turned
• 25:36
  taught how to, you know, become literate and reading the news.
• 25:39
  That is not what it means. Media literacy means if you
• 25:42
  don't read the right media sources, you are deemed to be
• 25:46
  illiterate and you need to get your mind right.
• 25:49
  And so there's now been over a dozen US state U.S. states since
• 25:53
  2016 that have passed mandatory media literacy laws requiring K
• 25:59
  through 12 students in the in those states public schools to
• 26:02
  take media literacy courses to be trained about what they can
• 26:06
  and can't read and what they can and can't cite.
• 26:09
  So if you're familiar with Wikipedia for example, the
• 26:11
  reason that it's such a dystopic, you know, Soviet style
• 26:15
  information all. Right.
• 26:16
  I'm going to stop it right there and just kind of pass it on to
• 26:19
  the panel just to have a discussion about this.
• 26:21
  Like this is nuts. Like public schools, like not in
• 26:25
  all states, just 12 states are literally force feeding children
• 26:30
  basically saying the New York Times, OK, CNN, OK, online media
• 26:37
  bad. Like I thought we lived in
• 26:41
  America. Like what is this stuff?
• 26:45
  This is bat shit crazy. This is insane.
• 26:49
  And this is this is what I was talking about when I said that
• 26:52
  the Internet was not that the government was not controlled
• 26:56
  for mass scale peer-to-peer communications.
• 27:00
  And this is what Buchele is was talking about in his article,
• 27:05
  that their most important weapon is their control on the truth.
• 27:08
  And you see them scrambling and wiggling and it doesn't even
• 27:12
  matter. Like if they've thrown out all
• 27:15
  the norms of what, you know, freedom of speech should
• 27:19
  represent in the United States. And now all of a sudden you have
• 27:22
  the government dictating in public schools in the US what
• 27:26
  information students should consume and what information
• 27:30
  students shouldn't consume. And I get what a lot of you guys
• 27:33
  may be thinking, like, Nico, this is a Bitcoin show.
• 27:36
  Like, why are we talking about Freedom of Information?
• 27:39
  It goes hand in hand because without freedom of speech,
• 27:44
  without these, without the ability to have this type of
• 27:47
  discourse, we cannot wake people up to the scam of Fiat money.
• 27:53
  People have been psyopped into thinking that money needs to
• 27:57
  lose purchasing power in order to function.
• 28:01
  And the way that you combat that is on the battlegrounds of the
• 28:04
  Internet narrative. Trench warfare, literally
• 28:07
  winning over the hearts and minds of people.
• 28:10
  But what happens when and they indoctrinate people very, very
• 28:14
  early on to literally say like, look, CNN said inflation is a
• 28:19
  good thing. CNN said inflation is necessary.
• 28:22
  Or I only could read Paul Krueger.
• 28:26
  That's what they told me. Or I'm information illiterate
• 28:29
  right to use their wording and then they'll tune out
• 28:33
  alternative media sources. Why are they so scared of
• 28:36
  alternative media sources? Because if you can't combat an
• 28:41
  idea with argument, the next step is censorship.
• 28:47
  And that's what they're relying on.
• 28:49
  They don't have any more good arguments anymore.
• 28:52
  So they're they're just like, OK, you know what?
• 28:55
  We just can't have this discussion period.
• 28:57
  Like we just got a censor their speech 100%.
• 29:00
  That is very scary. And I think it's something to
• 29:03
  definitely, definitely point out.
• 29:06
  And This is why the rise of independent content creators is
• 29:10
  so important, Like simply Bitcoin, like your favorite
• 29:13
  independent content creators. We need more of that, not less
• 29:16
  of that. Because what the last five years
• 29:19
  have shown is that the legacy media that are supposedly
• 29:22
  professional journalists aren't journalists.
• 29:25
  They've sure acted like more so like propagandists than
• 29:29
  journalists. It seems like the dudes that
• 29:32
  just buy a camera and a microphone on the Internet have
• 29:34
  been doing a better job reporting on shit than the
• 29:37
  legacy media. That's my opinion anyways.
• 29:40
  Matt, do you think I'm wrong here?
• 29:41
  You know, you're a macro guy. Maybe what we're saying is
• 29:44
  extremist, but like, dude, like, that's crazy.
• 29:48
  Like media literacy. Like what does that even mean?
• 29:53
  Yeah, I, you know, it's interesting you talked about
• 29:56
  analogs to to history. The first thing that always
• 29:59
  comes to mind whenever I hear about censorship and the
• 30:03
  response that's come from governments or Central
• 30:06
  Intelligence agencies across the globe is it's a very similar
• 30:11
  impulse to what happened when the printing press was invented
• 30:14
  and unleashed on the world. And I know that's not a novel
• 30:18
  idea to me, but it's just you can't escape it.
• 30:21
  Once you see that parallel, it's just so obvious, right?
• 30:24
  Where the church used to be the source of truth, they had a
• 30:28
  monopoly on it. Everybody had to come to them
• 30:30
  and their priests for the source of truth.
• 30:33
  And if you didn't basically buy into it, then you were a heretic
• 30:37
  and you would be literally killed, right?
• 30:40
  And while they can't exactly burn you at the stake now, they
• 30:44
  they burn you at the digital stake, which is censor you,
• 30:47
  deplatform you, remove you from discourse, which in the modern
• 30:51
  world is effectively you've been killed, right?
• 30:55
  And so to me, that's exactly what this is, right?
• 30:58
  Is only our priests can be the source of truth.
• 31:01
  We we have the word of God, right?
• 31:04
  And the word of God is whatever, you know, your local bureaucrat
• 31:08
  decides it is that day. And it's the exact same impulse
• 31:12
  that was around, you know, thousands of years ago.
• 31:15
  So I think it's human nature. And I think we're just in that
• 31:18
  cycle of the redistribution and decentralization of the sources
• 31:24
  of, of what's actually going on in the world.
• 31:26
  And I view it as a really positive thing.
• 31:28
  And I think obviously we're all living through a tumultuous
• 31:31
  time, but for for me, it's, it's an optimistic time because these
• 31:35
  tools actually exist for us to take advantage of.
• 31:37
  So, you know, that's one of the main reasons that I'm out here
• 31:41
  just trying to have conversations with with anybody
• 31:44
  who's willing to engage, right? It's like we actually have
• 31:47
  control over the narrative now. And I'm not going to go to my
• 31:50
  local priest, AKACNN to decide what my opinions are.
• 31:56
  I I love that how you made that connection because that, like
• 32:01
  that's one of the cases that we've been making on, on the
• 32:04
  show, one of the central themes, which is the, this is the
• 32:07
  separation of money and state. And you just brought up the
• 32:10
  separation of church and state. Like that was one of the reasons
• 32:13
  that that happened was that people were like, wait, like it
• 32:17
  like with Galileo, it's like, no, no, no, no, like you
• 32:19
  understand the planets, it's like revolve around the sun.
• 32:23
  That's kind of how it works. And they're like heretic, you
• 32:26
  know, like that guy, you know, goes to jail and it and again,
• 32:30
  it I, I don't even think it's a it's a religious thing or like,
• 32:33
  you know, a God thing or any of that stuff.
• 32:36
  It just has to do with, like, the free market of ideas and
• 32:40
  discussion is a good thing. That's how truth is discovered.
• 32:44
  Like, that's how it should work. There shouldn't be a
• 32:47
  bureaucratic elite or a papal elite or a priest elite that get
• 32:52
  to dictate what the truth is for everybody else, because that
• 32:56
  system fundamentally gets corrupted.
• 32:58
  That's a lot of power in the hands of a few people and
• 33:02
  history has shown that absolute power corrupts absolutely.
• 33:06
  And the last five years have shown that.
• 33:09
  You know, guys, I got it. Look, unless you've been
• 33:11
  completely tuned in, tuned out of the media whatsoever, TuneIn
• 33:16
  to legacy media and hear that there was like just not to get
• 33:20
  into the the pandemic stuff, but it's like there is no inflation.
• 33:25
  There's gonna be no inflation. It's the supply chains.
• 33:28
  It's Putin. It's, you know, if you say that
• 33:32
  there's inflation, it's disinformation like, you know,
• 33:37
  and then all of a sudden, like when they couldn't deny it
• 33:40
  anymore, Janet Yellen goes on TV and she's like, I was wrong
• 33:43
  about inflation. Meanwhile, the hivemind of
• 33:48
  Bitcoin, Twitter was calling it for two years that there was
• 33:52
  going to be inflation because it's common sense.
• 33:55
  They're obviously debasing the currency.
• 33:58
  They're printing records amount of money.
• 34:01
  Obviously that's going to happen.
• 34:03
  But if you were to listen to the, you know, the appropriate
• 34:08
  sources, if you have media literacy to use their words, you
• 34:13
  would have gotten absolutely wrecked.
• 34:14
  You would be like, Oh my God, no one knew that how, how like God
• 34:18
  forbid this. This could have never happened.
• 34:20
  Anyways, Opti, what's your take on this brother Mike bends, bro,
• 34:23
  coming in with the fire. I love his takes.
• 34:25
  Yeah, well, first of all, highly recommend everyone go listen or
• 34:29
  rather follow Mike Bend on Twitter.
• 34:31
  He's becoming one of my favorite Twitter accounts.
• 34:34
  He's got a very like autistic tinge to everything he's capable
• 34:38
  of talking about, like naming names and connecting dots, which
• 34:41
  you just love to see. Obviously my I I can't connect
• 34:45
  all the names off the top of my head.
• 34:47
  I have to, you know, go in and do the research and kind of
• 34:50
  literally like with lines connected, but Mike Bend is able
• 34:52
  to. But my thoughts on this is
• 34:54
  pretty simple. Like, am I surprised?
• 34:56
  No, I think everyone, at least everyone in our audience, but
• 35:00
  two people that maybe are newer here.
• 35:02
  This might be surprising that, you know, the the corporate
• 35:05
  press is biased. I, I think if, if you are a
• 35:08
  Bitcoiner, you've realized this for a while now, that of course
• 35:13
  the media is biased. It's very obvious that they're
• 35:16
  biased. I think that the next step for
• 35:18
  most people is what Mike Pence is doing, which is opening
• 35:21
  people's eyes to this, this extension of whatever you want
• 35:25
  to call it, the deep state, the swamp, the administrative state,
• 35:28
  the federal government, that the media is an extension of
• 35:32
  whatever powers that be, however you want to name it.
• 35:34
  It's becoming very clear that they are just propaganda wings
• 35:37
  for the government and they're not real journalists.
• 35:40
  But this is where I think the mantra of bit corners of don't
• 35:43
  trust verify is going to become one of the most important memes
• 35:47
  for us. Not only the 21 million, also,
• 35:49
  you know, Happy Infinity Day or everything divided by 21
• 35:51
  million. It's 8/8/21.
• 35:54
  Yeah, exactly. You know, that meme of 21
• 35:57
  million, the hard cap of Bitcoin and don't trust verify are
• 36:01
  becoming the central memes. And of course, for people that
• 36:04
  want to learn and, and how to behave the best in Bitcoin is
• 36:07
  stay humble stacks at stay solvent.
• 36:09
  Like these memes are becoming very powerful because you're
• 36:12
  realizing that the legacy media is completely biased.
• 36:15
  They're bought and sold. And if you're still trusting or
• 36:18
  you know, trusting the official sources, then you're, you're
• 36:21
  basically being lied to. And you're at this point
• 36:24
  probably willingly being lied to because you you have to dig your
• 36:28
  head in the sand to not realize that the legacy press is is
• 36:31
  bought and sold. I'll put I'll push back there.
• 36:33
  I'll push back there. I'll say like because it it's
• 36:36
  like I I like that's such a it's like Opti.
• 36:39
  I agree with you, but it's kind of like what I would say is
• 36:44
  instead of like, like defaulting to the legacy media is lying to
• 36:48
  you. Like don't trust us.
• 36:51
  Like don't trust what me and us you have to say trust like go
• 36:55
  and like, do your like, watch what the legacy media is saying.
• 36:59
  Do your own research, do your research on Twitter, do your own
• 37:03
  research. And I like, you're going to be
• 37:06
  like, what the fuck is going on? This is nuts.
• 37:09
  This is crazy. So like, that's what we're
• 37:12
  advocating for. It's not necessarily to like,
• 37:14
  oh, legacy media is terrible. They're just lying to you.
• 37:16
  Like, no, no, no, go, go. Like do your own research.
• 37:21
  Don't rely on a single source of information.
• 37:24
  That's all we're saying. Like do your own research, rely
• 37:27
  on multiple sources. You'll, you'll start getting
• 37:30
  good at it over time. Don't just rely on CNN.
• 37:33
  Don't just rely on some random person on Twitter.
• 37:37
  Connect the dots yourself and you'll have a more accurate
• 37:41
  representation of what the truth is in that, in that way.
• 37:44
  Anyways, just to kind of give you guys a little bit of a taste
• 37:48
  of how things are shifting, at what pace and the way that media
• 37:54
  is changing. We have this notion of media of,
• 37:58
  you know, the guys are wearing suits and they're talking in a
• 38:02
  certain way. And you know, it's like a
• 38:04
  professional studio and everything is produced and it's
• 38:08
  very scripted and it's and it's, I would say non authentic
• 38:13
  conversation. I think what we've seen over the
• 38:16
  last couple of weeks, specifically with with, you
• 38:18
  know, the presidential presidential candidate Trump,
• 38:21
  we've seen a a variety of different conversations.
• 38:25
  So the Elon spaces and the the Aiden Ross stream, which was
• 38:31
  hilarious. Like they step out and there's
• 38:33
  like a Tesla cyber truck and it's like all wrapped in Trump's
• 38:38
  like assassination picture. Like it's absolutely hilarious.
• 38:42
  And again, it's it's unscripted, it's authentic.
• 38:46
  And he just had another interview with a very popular
• 38:50
  comedian yesterday. And the stuff that they said was
• 38:54
  absolutely hilarious. Now, the reason I want to play
• 38:57
  you this clip is for two reasons.
• 38:59
  Number one, it's funny as F #2. It's a representation of the
• 39:05
  times changing and where the future of media is heading.
• 39:09
  Let's check it out. That was really.
• 39:12
  Yeah. So not just.
• 39:14
  Yeah, that's. And it was that's down and
• 39:17
  dirty, right? Yeah.
• 39:18
  And this is. Yeah, this.
• 39:19
  I mean, it was. Yeah.
• 39:19
  But you don't anymore. No, I don't do it anymore, man.
• 39:22
  And I'm not doing it. Is it too much?
• 39:23
  Too much to handle? Some of the stuff started to get
• 39:26
  a real rattle in it too. I don't know where it we were
• 39:28
  even getting it from in this country, but yeah, it started to
• 39:31
  make me feel like I was a mechanic or.
• 39:33
  Something. So the thing you go.
• 39:34
  Back to then is alcohol for the most part right yeah, but well
• 39:37
  what I want probably is cocaine but I know that if I have a
• 39:40
  drink then it'll give me it'll like be like OK well I had a
• 39:42
  drink then I can do this is cocaine a stronger Oh yeah up
• 39:48
  yeah yeah, yeah. Cocaine.
• 39:49
  So you so you're way up with cocaine more than anything else
• 39:52
  you can think of. Cocaine will turn you into a
• 39:54
  damn owl, homie, you know what I'm saying?
• 39:56
  It'll you'll be you'll be out on your own porch.
• 39:58
  You know you'll you'll be your own St. lamp.
• 40:01
  You're freaking. And is that a good feeling?
• 40:03
  While it's a miserable feeling. Ladies and gentlemen, for audio
• 40:10
  listeners who's just like, what the fuck just did we just listen
• 40:14
  to? That was the pres.
• 40:16
  That was the that was Donald Trump talking to an everyday
• 40:21
  podcaster about cocaine. And of course, the reason that
• 40:25
  they're bringing this up is because substance abuse is a
• 40:29
  very big problem in the United States, right?
• 40:33
  There's the opioid epidemic. It's horrible.
• 40:36
  You know, substance abuse destroys so many people's lives.
• 40:39
  So it's a very serious issue. So the fact that that was
• 40:42
  brought up in conversation, you know, the the way it was like,
• 40:47
  could you have ever have imagined Opti that type of
• 40:51
  conversation on legacy media? By the way, this interview has
• 40:54
  gone in millions and millions and millions and millions of
• 40:58
  views. And what that tells me is that
• 41:01
  the market is telling you that it likes this type of content.
• 41:06
  It likes this type of authentic conversation.
• 41:09
  Before, it was like these things were unacceptable.
• 41:12
  Like, this is insane. This was an insane conversation,
• 41:15
  but it's like it adds a human element to it.
• 41:18
  Not only that, it was absolutely fucking hilarious.
• 41:20
  It was hysterical, bro. That shit was so funny.
• 41:23
  Optia, what's your take? Well, first of all, Theo Von is
• 41:27
  hilarious. But, yeah, just like seeing, you
• 41:30
  know, a presidential candidate just sitting there with just one
• 41:34
  of the funniest comedians. And that, like, Theo Von is just
• 41:37
  completely unhinged. And you just love to see it.
• 41:39
  But the fact that it's gotten this much attention just goes to
• 41:42
  show what we've learned here at Simply Bitcoin as well.
• 41:45
  Just like authentic conversation, it resonates with
• 41:48
  people because we're so tired of the gatekeepers and the polished
• 41:54
  media production where it's like, OK, these are the official
• 41:57
  narratives and this is what you need to think about.
• 41:59
  And it just really goes to show that I think we are entering a
• 42:02
  new era in social media where just pure, authentic
• 42:07
  conversations about what's actually happening is what
• 42:10
  people want. Like we're thirsting for truth,
• 42:12
  even if it is unhinged. Like the Theo Bond conversation.
• 42:15
  That was so crazy. Anyways, Matt, you have some
• 42:19
  thoughts before we move on to the next section.
• 42:21
  Yeah, just actually it's a bit of a response to a comment that
• 42:25
  I saw pop up a little bit ago after I spoke previously, which
• 42:28
  is someone was saying it, it's not optimistic, it's it's
• 42:32
  dystopian. And I just want to quickly
• 42:34
  reject that and say, no, I I completely disagree.
• 42:38
  Is the attempt to control media dystopian?
• 42:41
  Yeah, sure, absolutely. But the optimism is what you
• 42:45
  guys just showed, right? Which is that that's what's
• 42:48
  winning right now. That's what's getting views.
• 42:50
  It's authentic, real conversations.
• 42:54
  And to your exact point just now, that wouldn't have happened
• 42:58
  even 5-10 years ago, right? Because there was this walled
• 43:02
  garden of media. And I think that's been
• 43:04
  shattered. And the world is figuring out
• 43:07
  how to deal with it right now. And a lot of the bureaucracies
• 43:10
  are trying to figure out how to deal with it, their natural
• 43:13
  responses to clamp down. And I don't see how you can't be
• 43:17
  optimistic there. And this is not the time to go,
• 43:19
  oh, no, they're trying to control us.
• 43:21
  So we just roll over and let them.
• 43:24
  It's like, no, now we lean in, we create content, we have
• 43:27
  conversations like this. Any time you're given the
• 43:30
  opportunity, hop on, have a conversation, put your thoughts
• 43:34
  out there and like try to move the world in a slight, like
• 43:39
  little nudge in the direction you want it to go in every
• 43:41
  opportunity given. And I don't know, it just it
• 43:44
  makes me optimistic. That's the only way that I can
• 43:46
  think about it. Yeah, I, I want to add a little
• 43:49
  bit to this Max, I've said it before as well.
• 43:51
  You know, I'm a huge freedom of speech activist or, or advocate.
• 43:57
  Like I think we should be having these conversations and not only
• 44:01
  so we could get to truth, but it really just goes to show and
• 44:04
  exposing people's dumb ideas. And this is how we get to the
• 44:07
  truth. And this is how we get a better
• 44:08
  world is by us having extremely silly conversation sometimes and
• 44:12
  being like, oh, wait, OK, I thought this was smart, but
• 44:16
  really, I guess I was misguided. And you're never going to be
• 44:19
  corrected if you are. Just like I'm the smart person
• 44:22
  and you can't comment on my stuff and you never get feedback
• 44:25
  or pushback on your ideas. And we're seeing in real time
• 44:27
  that these ideas are happening and people are thirsting for the
• 44:31
  truth. Yeah, You know, I will say it is
• 44:33
  one of the reasons why I really do love X Spaces or Twitter
• 44:37
  Spaces, whatever you want to call it is because if you get on
• 44:39
  stage and you speak and you do say something stupid, you're
• 44:42
  going to be told that's really stupid quickly.
• 44:45
  And I actually, I love that feedback.
• 44:46
  I think it sharpens your sword. It makes you more intelligent
• 44:49
  and improves your recall. I've become a much better
• 44:52
  speaker just getting out there and putting my ideas out and
• 44:55
  being willing to be told I'm wrong.
• 44:57
  And here's why. And I love that feedback.
• 45:00
  I think it's it's a great thing and technology's awesome.
• 45:03
  We just have to utilize it once again to move the needle in the
• 45:07
  direction we want to move it in. Or otherwise, sure, just roll
• 45:11
  over and I guess let the bureaucrats decide what you
• 45:13
  think. But I reject that fully.
• 45:15
  And I love seeing stuff like this.
• 45:17
  I think it's awesome. 100% And there's no way you could put the
• 45:20
  cat back in the bag. Like you can't.
• 45:22
  You can't. Like once this is opened, like
• 45:25
  it's like that dream world where they're just like, yeah, we're
• 45:29
  just going to like the future generations are just going to
• 45:32
  consume CNN and New York Times. Like we're going to educate them
• 45:35
  to do that. Like that is such naive
• 45:37
  thinking. But I think it's a it's an
• 45:39
  indication of what Boo Kelly was referring to, of how desperate
• 45:43
  they are to maintain their control on the truth.
• 45:46
  And I think the good news is that they're definitely losing.
• 45:49
  Anyways, everybody, let's hit the news.
• 45:51
  Lots to talk about. The Daily News.
• 45:57
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  your keys. Don't leave your Bitcoin on
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  exchanges. You want to take self custody.
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  That's how you take your back your financial sovereignty
• 47:32
  anyways. Speaking of the acceleration of,
• 47:37
  you know, the death of the nation state, that which is
• 47:40
  interconnected with the separation of money and state.
• 47:45
  We had some crazy news yesterday.
• 47:48
  And what I'm referring to, and I love how this article kind of
• 47:52
  downplays it, by the way, and it says it's from thestreet.com.
• 47:57
  Although not new, social media was abuzz with talk of Kamala
• 48:00
  Harris backing Biden's 44 percent, 44.6% capital gains
• 48:06
  tax, which is already crazy in the United States.
• 48:08
  The capital gains tax, the Max bracket is about 20%.
• 48:12
  So there'd be doubling the capital gains tax 44%.
• 48:17
  So can you and Matt, like just think about this for a second,
• 48:20
  right? Like specifically as it relates
• 48:21
  to capital gains, you earn money which you have to pay income tax
• 48:27
  on, right? And then you decide to use some
• 48:30
  of that money to invest. Investing is not a sure bet,
• 48:36
  right? Do you take on risk?
• 48:39
  But you know, if you handle the risk properly, you could
• 48:43
  potentially make a return. Not only do you have to pay
• 48:47
  taxes on the income that you make now, you have to pay taxes
• 48:53
  on the way that it's structured now is you pay taxes on the
• 48:58
  investment returns that you make while you're also simultaneously
• 49:02
  paying taxes on the money that you're using because they're
• 49:07
  debasing the currency. Absolutely insane.
• 49:10
  It goes on to say Harris potential backing should not be
• 49:13
  a shock given that she has been vice president under Biden for
• 49:17
  the past 1300 days. The kicker is the 25% tax on
• 49:24
  unrealized gains for the ultra wealthy.
• 49:26
  So this is a this is a step above everything that I just
• 49:31
  said. This is basically saying that if
• 49:35
  you are past a certain amount of wealth, you have to pay 25% of
• 49:42
  that wealth to the government. So it's not only capital gain.
• 49:48
  So it's not only income tax, it's not only tax on your
• 49:53
  investments, it's not only tax on your money, but after you
• 49:59
  reach a certain amount of wealth, they want to take 25% of
• 50:03
  it. So you've paid all of that tax
• 50:06
  and you still manage to make a good amount of money for
• 50:10
  yourself. And now the government is saying
• 50:13
  we feel entitled to 25% of that. This is the same government that
• 50:19
  continues to spend trillions of dollars every single year, more
• 50:24
  than it collects in tax revenue. This is the same government that
• 50:28
  is sending billions of dollars funding foreign wars.
• 50:32
  This is the same government that left $80 billion in Afghanistan
• 50:38
  just for a couple months later to send billions more to
• 50:43
  Ukraine. That's the same government and
• 50:46
  they have the audacity to basically tell you, hey, you
• 50:52
  know what, we're going to confiscate your wealth as well
• 50:56
  because this is what this is. This isn't tax.
• 51:00
  This is confiscation on wealth. Now, what a lot of the comments
• 51:05
  have said is, oh, Nico, this only applies to people that are,
• 51:11
  that are, are worth more than $100 million.
• 51:15
  And this is like, OK. And my response to that is,
• 51:19
  dude, like, do you not like, do you not know history?
• 51:25
  You know how they convince people about the Federal Reserve
• 51:29
  and the first iteration of the income tax?
• 51:32
  You know what the first iteration of the income tax was?
• 51:35
  They promised everybody that they would only tax the top 10%
• 51:41
  and that tax would only be 3%. Look at where we are now.
• 51:47
  And these are the same piece of same entity.
• 51:50
  It's the state. And you're taking their word for
• 51:52
  it. You think they're going to stop?
• 51:55
  Like, no, that's insane. Like this is insane.
• 51:58
  This is this is a crazy, crazy world.
• 52:01
  Here's Bob Burnett. Bob Burnett is the CEO of
• 52:03
  Barefoot Mining and he says as horrible as this looks on the
• 52:07
  surface, it is even worse when you think of think it through.
• 52:11
  Currently, nobody must report their net worth to the
• 52:14
  government. A 25% tax on unrealized gains
• 52:18
  also means we will all be required to report our net
• 52:22
  worth. This type of information has
• 52:24
  never been the purview of the government.
• 52:26
  This is a blatant attack on our privacy and a set of information
• 52:30
  no one should trust the government with.
• 52:32
  So like, you know, it, it like we've seen this play out in
• 52:36
  Soviet Russia before. It's like, please report how
• 52:39
  much cattle you have. And then before you know it, the
• 52:43
  men with guns show up and it says, hey, you know, we got to
• 52:46
  redistribute this to the people. Like, like, that's insane to me.
• 52:52
  Here's James Lavish. He says good afternoon.
• 52:55
  A 25% on unrealized gains is nothing more than a cheap
• 52:58
  political talking point that is monumentally stupid.
• 53:01
  That will never happen. I mean, until it does happen.
• 53:05
  This is what I said. Unrealized gains equals your
• 53:08
  wealth. They want to tax your wealth
• 53:10
  after they tax your income. After they tax your money via
• 53:13
  debasement. And then I put it another way,
• 53:16
  yes. And then of course, I'm talking
• 53:18
  as if I was the US government. Yes, we printed a fuck ton of
• 53:21
  money debasing your savings and now we're going to tax the shit
• 53:24
  out of you for nothing in return.
• 53:27
  What are these new tax proposals?
• 53:28
  But not straight up extortion and theft?
• 53:30
  And you'd say, OK Nico, like these are radical ideas.
• 53:33
  What are you talking about? What are you saying?
• 53:36
  My question is very simple and it interconnects with the book
• 53:40
  The Sovereign Individual. Highly recommend you guys
• 53:42
  reading that book. And this is where I am in my
• 53:45
  rabbit hole journey. The question that I initially
• 53:49
  asked is what is money? But where I'm at right now is
• 53:53
  I'm asking the question, what is government?
• 53:57
  Do we really get in return the value of the taxes that we're
• 54:03
  paying for? What am I going to get in return
• 54:07
  for paying 25% of my wealth to a government, to a federal
• 54:13
  government that can't control themselves?
• 54:16
  That essentially was colluding with social media platforms in
• 54:19
  order to silence speech. To bring up the Michael Ben, the
• 54:23
  Mike Benz thing that is literally paying for, you know,
• 54:28
  media literally courses in schools so that people only
• 54:32
  consume certain types of information for a government
• 54:35
  that can't take responsibility for the debasement of the
• 54:38
  currency. Like is, is that the world that
• 54:42
  we want to live in? Like that's my question to you
• 54:45
  everybody like is that the world that we want to live in?
• 54:49
  This is nuts. It's like the government is a
• 54:52
  bunch of shit coiners that can just print the shit coin at
• 54:55
  will, AKA Fiat, and they essentially hold everyone
• 55:00
  hostage and they control the men's with guns.
• 55:03
  Like like I, I like maybe that's a very radical of me to say that
• 55:08
  as a Bitcoiner, but I, I can't help but to like not see it that
• 55:12
  way. Like when they seriously come
• 55:15
  out and make these types of proposals, when I hear
• 55:19
  politicians talking about price controls and then then and then
• 55:23
  a couple days later talking about a 25% wealth tax, like,
• 55:30
  you know, what is this? But not extortion.
• 55:33
  Like it, it, this is, this is like mafia like behavior.
• 55:37
  And the argument is like, look, like we need more equality.
• 55:40
  We need more wealth redistribution.
• 55:42
  You know, we need a more equal society.
• 55:44
  And my response to that is look, take a look at history and let
• 55:49
  me know how that has worked out. Every single time it's been an
• 55:52
  absolute catastrophe that has resulted in 150 million people
• 55:57
  dying last century. So yeah, I think the best, like
• 56:01
  the best allocator of resources is the free market.
• 56:07
  It does it without coercive means.
• 56:10
  It does it with voluntary entrepreneurialism.
• 56:13
  It does it with people taking risks.
• 56:16
  And if they succeed in the risk that they take, they get
• 56:20
  rewarded for it. What the government does is they
• 56:23
  have an unlimited money printer. They have absolutely no
• 56:28
  consequences to any of their actions.
• 56:31
  And we're all just supposed to be and just stay and like, OK,
• 56:34
  this is great. This is this is phenomenal.
• 56:37
  Like they're censoring us. You know, they're arresting
• 56:40
  certain people for speech and Canada, they're locking people
• 56:44
  up if they protest. Like what is government?
• 56:48
  What is government? That's the question I have for
• 56:50
  you guys. Like what should be the role of
• 56:52
  government in life because the way that we've been sold as
• 56:55
  Americans of what the role of government should be.
• 56:58
  It should be a minimal government to ensure and protect
• 57:02
  the property rights, the property rights of everyone,
• 57:06
  right? That's that should be the role
• 57:07
  of government. It's taken this Frankenstein
• 57:11
  role of being the world police, the end all be all of
• 57:15
  information. Now all of a sudden we're going
• 57:18
  to control markets too. Like I'm sorry, they, they don't
• 57:23
  look if they had a great track record of like, oh, they did
• 57:26
  such a great job with the war in Iraq.
• 57:28
  Like I, I love these guys. They did such a great job with
• 57:32
  the pandemic. These guys are to be trusted.
• 57:35
  They did such a great job with healthcare and all this stuff.
• 57:38
  I love the government. They deserve more power.
• 57:41
  It's not like that. They shot the bed in like 5 or
• 57:45
  10 different ways and they're still saying trust us, bro.
• 57:50
  If you say I don't trust you, bro, they call you an extremist
• 57:53
  and then they lock you up in Guantanamo.
• 57:55
  Like that is absolutely insane. Like this is insanity.
• 57:59
  This is this is crazy world. This is nuts.
• 58:03
  So anyways, that's my take. That's where I'm at at my rabbit
• 58:06
  hole journey. I think we need less government.
• 58:09
  I think we need accountable government.
• 58:11
  And I don't think we will ever have accountable government
• 58:14
  without the separation of money and state.
• 58:17
  As long as there's a bureaucratic recreate money for
• 58:21
  free that everyone else has to work for, there will always be a
• 58:24
  huge misallocation of resources and there will always be an
• 58:29
  abuse of power of the money printer.
• 58:32
  That's my take. What are your takes?
• 58:34
  What are your takes, Matt? Man, there's so many directions
• 58:38
  I could go there. I'd say, first of all, I know
• 58:42
  you guys like memes, so I, I sometimes I just think in memes,
• 58:45
  that's all you can do when you go on something like this.
• 58:49
  And the first thing that came to mind is there's that meme of
• 58:55
  Bugs Bunny with the, the Soviet Union flag, like kind of
• 59:00
  transparently put across it and it just says your loss, our
• 59:04
  profit. That's the first one that comes
• 59:07
  to mind for me. But I think, you know, you
• 59:10
  mentioned a little bit earlier the Overton window shifting.
• 59:14
  And I think more than anything I view this as them trying to just
• 59:18
  really shift that Overton window towards we get to have more of
• 59:22
  your stuff and you should own nothing and be happy about it.
• 59:26
  I do think at least based on just how gridlocked a lot of the
• 59:31
  stuff in the US is, I do think it actually pretty hard to get
• 59:34
  that through. If hypothetically it did get
• 59:37
  through, then I think, you know, you probably end up seeing a lot
• 59:41
  of capital flight from the US just on fears of it being
• 59:45
  expanded because you brought up the income tax portion earlier.
• 59:49
  That's exactly the same thing that happened there.
• 59:50
  And I'm also definitely not the first person to say this, but
• 59:54
  capital moves where it's treated best, right?
• 59:56
  And so if you don't treat it well here, it's going to leave.
• 1:00:00
  And so I don't know, I the white pill take, I guess on it, since
• 1:00:04
  I'm on that stick today, is that it just accelerates the eventual
• 1:00:09
  demise of the current global central banking cabal, which is
• 1:00:13
  that, you know, the more they try to steal, the faster the
• 1:00:17
  acceleration towards its eventual demises.
• 1:00:20
  And I would like to think that that would make Bitcoin adoption
• 1:00:24
  grow. But it's also the last little
• 1:00:27
  bit here would be it raises an important piece, which is self
• 1:00:31
  custody, right? Like if you want to be civilly
• 1:00:35
  disobedient to a hypothetical tax that does not exist yet, the
• 1:00:40
  only way you could actually do that would be cold storage.
• 1:00:44
  Because if it's on an exchange, the likelihood is that it's just
• 1:00:48
  going to be like income taxes just withheld.
• 1:00:52
  You don't even get the option to not pay it, right?
• 1:00:54
  They just withhold it on your behalf.
• 1:00:57
  So I think it would be something similar there with with capital
• 1:01:00
  gains. If you've got a brokerage
• 1:01:01
  account or something, hypothetically they're just
• 1:01:04
  going to basically auto pay that 25% on your behalf because it
• 1:01:09
  makes it easier for you. So yeah, I'll end it there.
• 1:01:14
  And, and, and then also like, because they know that you like,
• 1:01:17
  they know that that's impossible to enforce on a mass scale,
• 1:01:21
  right? Like the way it's super
• 1:01:24
  interesting, like you guys should take a look at this.
• 1:01:26
  I I was like going down this rabbit hole.
• 1:01:27
  I've been going down this rabbit hole of what is government for
• 1:01:30
  the last and I was so curious. I was like, how did they
• 1:01:35
  convince people to agree to essentially the withholding tax?
• 1:01:41
  So if you're AW2 employee in the United States, you know what I'm
• 1:01:45
  talking about. So essentially you get paid
• 1:01:47
  every month, but they ought, your employer ought acts on the
• 1:01:51
  behalf of the government and automatically deducts the tax
• 1:01:55
  that you owe. And the reason that they did
• 1:01:58
  that is, again, it's a lot easier to Co opt a handful of
• 1:02:02
  employers right then millions upon millions of people all over
• 1:02:06
  the country and say, Hey, you owe his taxes at the end of the
• 1:02:09
  year, right? So the way that they, they, they
• 1:02:12
  instituted that system was really clever.
• 1:02:14
  And that system was actually instituted again back during
• 1:02:18
  World War Two. So it was instituted under the
• 1:02:22
  guise that, oh, we have to pay for the GIS coming back.
• 1:02:26
  We have to, we have to pay for the war.
• 1:02:29
  So we're going to institute this system.
• 1:02:31
  It's going to be temporary, just like the Nixon shock, just like,
• 1:02:35
  you know, temporarily suspending the, the convertibility to gold.
• 1:02:41
  None of this shit was ever temporary.
• 1:02:42
  None of it was ever temporary. It just get it just got worse
• 1:02:46
  over time. And then I don't know if I've
• 1:02:48
  mentioned this yet. The Bank Secrecy Act, right when
• 1:02:51
  they passed that essentially that law made it so that every
• 1:02:55
  $10,000 transaction had to be reported to the government.
• 1:03:01
  So, and the reason for that is they they, you know, the guys
• 1:03:03
  for that is like money laundering, you know, terrorism.
• 1:03:06
  AM LKYC what they don't tell you is that back then if you adjust
• 1:03:11
  $10,000 for inflation, it's the equivalent of $80,000 worth of
• 1:03:16
  purchasing power today, but they kept the number right.
• 1:03:21
  So I, there's a historical there, there's, there's
• 1:03:25
  historical examples for me to feel this way, like I don't
• 1:03:29
  trust you. I, I, you, you've, you've
• 1:03:31
  betrayed that trust in 50 different ways.
• 1:03:36
  I don't trust what you have to say.
• 1:03:38
  I don't believe that you're going to be able to get prices
• 1:03:40
  under control. You've been in power for 3 1/2
• 1:03:44
  years. You I don't think you're going
• 1:03:47
  to be great towards the Bitcoin industry.
• 1:03:49
  Your actions have shown something.
• 1:03:52
  You know, your, your words say something, your actions.
• 1:03:54
  So show another thing. Like I'm telling you, like I'm
• 1:03:57
  just jaded. Like I'm just like, dude, like I
• 1:03:59
  don't believe you anymore. So Opti, I, I know that you've
• 1:04:02
  been falling down this rabbit hole with me too, bro.
• 1:04:05
  We were, we were like Gold Star perfect citizens.
• 1:04:09
  I think when we started this channel, bro, we gave them so
• 1:04:12
  much. We gave them so much benefit of
• 1:04:15
  the doubt and so much like, you know what?
• 1:04:18
  Maybe they're just ill informed. Maybe they just know don't know
• 1:04:22
  any better. Like now it just feels like it's
• 1:04:24
  on purpose at this point. Yeah.
• 1:04:27
  Well, first and foremost, my thoughts are this is absolutely
• 1:04:30
  stupid. This would never, never work in
• 1:04:33
  America. Well, I won't say never, but
• 1:04:35
  anyone that understands what's going on here should obviously
• 1:04:39
  not agree with this. But I think the most telling
• 1:04:41
  part about this whole thing is that there's people out there
• 1:04:44
  that are so economically illiterate that they think this
• 1:04:47
  is a good idea. There is been a very, you know,
• 1:04:52
  whirring trend of, of people basically being like, you know,
• 1:04:56
  tax the rich, like the rich don't pay their fair share even
• 1:04:59
  though they pay most of the taxes.
• 1:05:00
  Dude, why do you think, why do you think they want to pass
• 1:05:03
  those those school courses about the media literacy bro?
• 1:05:07
  This is what I'm saying. And and you know, I'm doubling
• 1:05:10
  down on this like Nico, you know, I think you're being a
• 1:05:13
  little nice on this. The way I look at this is this
• 1:05:16
  is just them trying to make theft the property palatable for
• 1:05:19
  people. And we know where this goes
• 1:05:21
  historically, when you allow the government to steal your
• 1:05:25
  property, it doesn't end good. You know, again, as Matt was
• 1:05:28
  saying, the the Bugs Bunny meme, like, you know, you took the
• 1:05:32
  risk, but this is our wins now. And it's like, this is this is
• 1:05:36
  stupid. This is very dumb economic
• 1:05:38
  policies. And I mean, am I surprised?
• 1:05:41
  No, I'm, I, I've said it before, you know, this is this is all
• 1:05:44
  sounding very Marxist to me at this point.
• 1:05:47
  And I've given them the benefit of the doubt for a while, but
• 1:05:49
  now I'm like, yo, this is, it's very clear what they want to do.
• 1:05:52
  They want to steal as much property from you as possible.
• 1:05:56
  I know there's like people saying they're like, oh, this is
• 1:05:58
  only going to be for the ultra rich, but we know how government
• 1:06:01
  mandates go. They're going to use this to
• 1:06:03
  basically ensure that there is no more social mobility.
• 1:06:06
  So that like, if you're a poor peasant now, you will always be
• 1:06:09
  a poor peasant. And there's like, what's the
• 1:06:12
  point of working hard if your wins, you have to give away
• 1:06:16
  2540% of what of the risks that you're taking?
• 1:06:19
  Like, if all my wins are going to the government, what's to the
• 1:06:21
  point of even working? And we've seen this play out in
• 1:06:23
  real time. Like this is this is stupid
• 1:06:26
  economic policies. And the fact that people think
• 1:06:28
  this is a good idea just goes to show like how I'll educated most
• 1:06:32
  people are. And man, it's just it's
• 1:06:34
  absolutely disgusting what we're seeing that people believe this
• 1:06:38
  is a good idea. And like, I could rant about
• 1:06:40
  this forever, but I do want to get into the culture.
• 1:06:42
  So yeah, hold back. 100% like guys like the The solution to
• 1:06:47
  this is the separation of money and state like you want to and
• 1:06:51
  the insanity and the divisiveness and the whole
• 1:06:54
  political fugazi and the thing separate money from state that
• 1:06:59
  fixes the base layer of society. Politicians are incentivized to
• 1:07:03
  actually do good by their constituents.
• 1:07:05
  Like it truly fixes things. As long as DC has the ability to
• 1:07:09
  print money. These continued crazy effing
• 1:07:13
  ideas will just continue. It will just continue until the
• 1:07:18
  system just collapses inevitably one day.
• 1:07:21
  But the good news is that you can opt out right now and the
• 1:07:25
  way that you don't have to wait for the election.
• 1:07:27
  You don't have to whatever. You can vote with your energy,
• 1:07:29
  your time and your work. Buy Bitcoin, earn Bitcoin, mine
• 1:07:32
  Bitcoin, and put that Bitcoin into self custody.
• 1:07:34
  Let's get to the culture and talk to Macro Minutes.
• 1:07:40
  The daily culture. All right everybody, I do want
• 1:07:49
  to give a shout out to the Orange Pull app.
• 1:07:51
  It's the Bitcoin social layer Stack friends who stack sats.
• 1:07:54
  To get started, scan the QR code on your screen or check the link
• 1:07:58
  in the video description. Join the 11,822 Bitcoiners that
• 1:08:03
  are currently on the app. Right now.
• 1:08:06
  It is the Bitcoin social layer. So if you're traveling, you go
• 1:08:09
  to a new city, you go to a Bitcoin conference and you don't
• 1:08:12
  know any Bitcoiners around you. You pull up the orange pull up
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  and it'll give you, it'll literally tell you the
• 1:08:17
  Bitcoiners around you and it'll literally give you the ability
• 1:08:20
  to send them a message directly. It's also the number one
• 1:08:23
  resource for Bitcoin only events.
• 1:08:25
  Like I said, if you're going to a conference and perhaps you're
• 1:08:28
  there for a week and the conference is only two days and
• 1:08:31
  you want to know what to do at night, the orange pull up is for
• 1:08:34
  you. It'll literally show you the
• 1:08:35
  Bitcoin events near you. It's also one of the best ways
• 1:08:38
  to reach me directly. I appreciate all the messages
• 1:08:41
  that you guys have been sending. If you want to reach me directly
• 1:08:43
  if you have a question for me, perhaps you want to come on the
• 1:08:46
  show, send me a message on the orange pull up.
• 1:08:49
  I don't really answer Twitter DMS or emails these days.
• 1:08:52
  So scan the QR code or check the link in the video to get started
• 1:08:56
  in the video description to get started.
• 1:08:58
  So back throwback to the macro minute days man when he used to
• 1:09:04
  come on our spaces when Opti was slaving away after an hour long
• 1:09:09
  show. Hey, I'm still.
• 1:09:10
  Slaving away, bro. After an aren't aren't we all
• 1:09:13
  the whole simply Bitcoin crew bro Jesus.
• 1:09:16
  Actually, after this news segment, I think we're all
• 1:09:18
  slaving now. At least that's what they want.
• 1:09:20
  From us is straight up bro but but yeah it's a macro.
• 1:09:24
  Minutes used to join us on the simply Bitcoin spaces and you
• 1:09:28
  know the the it's it's in the name.
• 1:09:30
  Matt would give his macro takes, right.
• 1:09:34
  So that's what he's gonna do today.
• 1:09:35
  No, no. No, no, we're switching.
• 1:09:37
  We're. Switching he's not macro
• 1:09:38
  minutes. No, we can.
• 1:09:39
  Tell the macro minutes story. But we're gonna we're gonna talk
• 1:09:43
  about energy, Bitcoin and energy.
• 1:09:45
  Life. So it's energy.
• 1:09:46
  It's Matt. Energy minutes today.
• 1:09:48
  Yeah, I'm excited. I mean, Matt, maybe he kind of
• 1:09:50
  touched on it earlier. So Matt, I don't know if you
• 1:09:52
  want to rehash the macro minute to me, but I really want to get
• 1:09:55
  into the Bitcoin and energy conversation.
• 1:09:57
  So I, I think let's just start there.
• 1:09:59
  First of all, like you said in the beginning, you are literally
• 1:10:02
  outside of you said a plant, you know, an energy plant right now,
• 1:10:06
  you've been an engineer and you do host a spaces on Twitter on
• 1:10:11
  your Twitter account macro minutes about Bitcoin and
• 1:10:13
  energy. And considering we started this
• 1:10:15
  show today with Jack Mahler's talking about Bitcoin and
• 1:10:18
  energy, I think let's touch on just like the importance of
• 1:10:21
  energy, why energy use is good. And basically, like Jack Mahler
• 1:10:26
  said in the beginning, energy use makes the world go round.
• 1:10:29
  Yeah, you know, I, I so let me give a quick background because
• 1:10:32
  I got I got to fill Nico in because I that we haven't
• 1:10:34
  actually chatted since like those spaces used to happen back
• 1:10:37
  in the day. So I was telling Anati starting
• 1:10:40
  out, I, I made my ex account at what I would consider to be the
• 1:10:45
  peak of, of, of mount Stupid is what I told him earlier.
• 1:10:49
  And so that's where you, you're really interested in a new
• 1:10:52
  topic, right? And you go and you just consume
• 1:10:55
  all of the information you can out there.
• 1:10:57
  You try to learn as much as you can.
• 1:10:59
  And for me, I I've always been interested in what's going on in
• 1:11:02
  the world, especially when it comes to just like I said, macro
• 1:11:07
  minutes, right, macroeconomics, just anything like what is going
• 1:11:10
  on outside of my small little day-to-day world.
• 1:11:13
  And so I made the account thinking, yeah, I want to really
• 1:11:16
  lean into that. I want to contribute to that.
• 1:11:18
  Like that's what I want to do, right?
• 1:11:21
  And then you get to the stage where you start to learn all of
• 1:11:24
  the things you know, you don't even know what you don't know
• 1:11:27
  yet, right? And that's the peak of Mount
• 1:11:29
  Stupid. And then you get to the through
• 1:11:30
  of like despair, which is, Oh my God, this is so complicated.
• 1:11:35
  How could I ever even begin to understand what's actually going
• 1:11:38
  on and contribute in any meaningful way?
• 1:11:41
  And I went a little bit silent on X for a while and then kind
• 1:11:45
  of came to the full circle realization of, no, the area
• 1:11:49
  that I actually should be contributing in is the area of
• 1:11:52
  true expertise for me. So I'm, I'm a facilities
• 1:11:55
  engineer. I've been going into power
• 1:11:57
  plants for nearly a decade now. And I help them to basically
• 1:12:01
  make those last couple megawatts, right?
• 1:12:04
  They're trying to put as much power on the grid as possible.
• 1:12:07
  And the projects that I work on help them to do so.
• 1:12:10
  And there's this interesting cross section of Bitcoin mining
• 1:12:16
  and power generation. And that's really just been the
• 1:12:19
  true niche area where I can bring some of my own personal
• 1:12:22
  expertise to, but then also learn from the actual folks who
• 1:12:26
  are doing the mining. And so I started the show the
• 1:12:29
  first week of January this year. And I've done a show every week
• 1:12:33
  except for when the rowing national championships happened,
• 1:12:35
  I missed that week. But aside from that, I haven't
• 1:12:38
  missed a week this whole year. I've done a show every single
• 1:12:40
  Thursday just focused on Bitcoin and energy and the the
• 1:12:45
  intersection between the two. And so I think the start of this
• 1:12:48
  show, as you mentioned, Opti was, was perfect for me.
• 1:12:50
  It's like, wow, that's right in my wheelhouse because that's
• 1:12:54
  literally what I'm doing. And so, yeah, I I would say in
• 1:12:59
  summary, what we were talking about earlier is, is energy is
• 1:13:02
  life. And Bitcoin is immediately tied
• 1:13:05
  to energy. You cannot separate it.
• 1:13:08
  And so based on that, when you see once again, Michael Saylor
• 1:13:11
  tweet something like Bitcoin is life and you see people respond
• 1:13:15
  to that negatively, to me it just shows that they don't
• 1:13:18
  exactly get what he's getting at, which is there's pro human
• 1:13:23
  currency, which is Bitcoin, and then there's anti human
• 1:13:27
  dystopian currency, which is Fiat.
• 1:13:30
  And one steals your purchasing power.
• 1:13:33
  It literally steals your energy, your life force, everything you
• 1:13:36
  put out into the world. That 25% unrealized capital
• 1:13:40
  gains tax is nothing compared to the insidious nature of money
• 1:13:45
  printing, right? Which is stealing whether you
• 1:13:47
  like it or not, 7 to 14% per year in perpetuity and has been
• 1:13:51
  doing so for hundreds of years at this point.
• 1:13:54
  And I just love that Bitcoin is tied to energy.
• 1:13:57
  The tied to energy is what makes it scarce.
• 1:14:00
  And yes, I just love getting into the actual details on the I
• 1:14:06
  nerd out on the engineering side too, which I'd be more than
• 1:14:08
  happy to do, but I don't know if you guys want me to go on that
• 1:14:10
  tangent right now. So anyways, that's that's the
• 1:14:12
  world that I'm in and I'm happy to go whatever direction you.
• 1:14:15
  Guys, Yeah, yeah, I think I really want to touch on energy
• 1:14:18
  in particular because they're like, again, you know, I
• 1:14:21
  mentioned the news, there's a growing trend of saying tax the
• 1:14:25
  rich. There's also a growing trend
• 1:14:27
  about like energy uses bad and you know, everything going to
• 1:14:31
  electric vehicles and you know, like, what's your what, what is
• 1:14:35
  it like? What's your carbon footprint?
• 1:14:37
  And so we're seeing a lot of these trends are making the
• 1:14:40
  whole world go carbon neutral, like, you know, get to 0 carbon
• 1:14:44
  in whatever 20-30. And as someone that really
• 1:14:49
  fundamentally believes that humanity should be using more
• 1:14:52
  energy, that's how we prosper. I really want to just dive in
• 1:14:56
  that that idea is like the answer to our problems is not
• 1:15:00
  less energy use. That's literally going to push
• 1:15:02
  us backwards in time that the the solution is using energy
• 1:15:06
  more efficiently, which Bitcoin will allow, Bitcoin mining will
• 1:15:09
  allow. And you as someone that's energy
• 1:15:12
  expert, for lack of better terms, like, let's just touch on
• 1:15:15
  that idea. What would you say to skeptics
• 1:15:17
  about energy use or you know, going green, you know, 100%
• 1:15:21
  energy by whatever X year. Like what's your thinking on
• 1:15:25
  this? Are they fundamentally misguided
• 1:15:27
  or are we biased? Or am I bi?
• 1:15:29
  I'll do. Am I biased?
• 1:15:31
  Yeah, no, I So when it comes to the green thing, I don't think
• 1:15:38
  anybody wants to just dump toxic waste in the environment, right?
• 1:15:43
  Like, I think pretty much anybody who, you know, loves
• 1:15:47
  nature, loves humanity, loves prosperity.
• 1:15:50
  Nobody says, yeah, let's just go dump toxic waste so we can all
• 1:15:54
  get rich. I mean, maybe there's a very
• 1:15:55
  small percentage of people that would say that, but most, your
• 1:15:58
  average person, you know, they're not going to just dump
• 1:16:02
  their motor oil in the ditch, right?
• 1:16:04
  So I, I think most people would be aligned that, yeah, we don't
• 1:16:08
  want to be just destroying the environment, but that also
• 1:16:12
  doesn't mean that our daily activities have zero impact and
• 1:16:15
  that we could ever get to a state where there's zero impact.
• 1:16:17
  And I think a lot of the people who have been misguided by the
• 1:16:21
  degrowth cult, for lack of a better term, is they've
• 1:16:26
  literally been misguided into thinking that any human impact
• 1:16:28
  is bad. And if you take that to its,
• 1:16:32
  what would it be like Reductio ad absurdum, right?
• 1:16:35
  You take it to its most extreme conclusion.
• 1:16:37
  It is literally that humans shouldn't exist.
• 1:16:40
  And I'd fundamentally reject that, right?
• 1:16:42
  I think humans are good. I think there should be more
• 1:16:45
  humans and we should have more impact.
• 1:16:47
  But I think there's a way that we can impact our local
• 1:16:50
  environment positively. And I'm extremely biased towards
• 1:16:54
  nuclear, pro nuclear. I'm in nuclear plants multiple
• 1:16:57
  days a week. I'm sitting in the parking lot
• 1:16:58
  of one right. So like I, I think that they are
• 1:17:02
  basically peak humanity, us functioning at our highest
• 1:17:06
  level. You know, we're taking spicy
• 1:17:09
  rocks and we're boiling water with it and we're using that to
• 1:17:12
  do all kinds of great things in the local community and it
• 1:17:16
  produces effectively no waste. I mean, the way is stored on
• 1:17:20
  site in concrete cast and it fits in a parking lot and you
• 1:17:24
  can power basically a million, two million homes for decades
• 1:17:29
  and all you do is basically make some concrete boxes in a parking
• 1:17:32
  lot. That's a pretty good trade off
• 1:17:34
  if you ask me, right? And so versus for example, let's
• 1:17:40
  say you are pro solar, I'm not anti solar, anti grid scale
• 1:17:44
  solar maybe. I think if you want solar panels
• 1:17:46
  on your house, by all means go for it, But I also don't think
• 1:17:49
  we should be clear clear cutting thousands of acres of forest to
• 1:17:52
  put up solar panels when once again, it's a bit of a meme, but
• 1:17:56
  we can just take spicy rocks and and boil some water with it
• 1:17:59
  right? Like it wait, it takes so much
• 1:18:02
  less space. Energy density is super
• 1:18:05
  important. Lynn Alden has some great takes
• 1:18:07
  on that. So I encourage anybody to check
• 1:18:09
  out her works on her work and her take on energy density I
• 1:18:14
  think is spot on. And I think one of the like, one
• 1:18:19
  of the one of the kind of like, I don't want to say
• 1:18:22
  misconceptions because it is a, is a, because I love the way
• 1:18:26
  that you simplify it, right? Which is, you know, it's spicy
• 1:18:28
  rocks, right, radioactive rocks, right?
• 1:18:32
  And then, you know, they, they heat up water and then that
• 1:18:36
  powers the turbine and then Bing bam, boom.
• 1:18:39
  That's the way it should work. But I think that there has been,
• 1:18:42
  you know, some issues, whether that's Three Mile, Fukushima,
• 1:18:48
  Chernobyl, that I think have, you know, given the industry a
• 1:18:54
  bad name. I think a lot of people don't
• 1:18:57
  realize how far nuclear reactor technology has come and how much
• 1:19:03
  safer they are today compared to kind of like the first
• 1:19:08
  iterations of nuclear reactors, which have led to some like
• 1:19:14
  catastrophic disasters in the past.
• 1:19:17
  Well, I would say catastrophic depending on how you measure it,
• 1:19:21
  right? Let's take Three Mile Island in
• 1:19:23
  Fukushima, for example. There were no radio radiation
• 1:19:26
  deaths associated with either of those accidents.
• 1:19:29
  And so for me, it's like, how is that a catastrophe?
• 1:19:33
  3 Mile Island still is. Well, I mean, they mothballed it
• 1:19:36
  for economic reasons, but the the reactors still function
• 1:19:40
  fine. People were still working on
• 1:19:42
  that facility. Chernobyl is a little bit of a
• 1:19:45
  different a little bit of a different scenario, right?
• 1:19:49
  But it's also, to your point, a much older design, A Soviet
• 1:19:52
  design. No containment around it.
• 1:19:55
  You have a steam explosion. The actual core material gets
• 1:19:59
  you know, atomized into the local environment.
• 1:20:02
  Were there radiation releases? Yes.
• 1:20:05
  But I actually would encourage anybody who's more curious on
• 1:20:09
  this specific topic to look up the YouTube Kyle Hill.
• 1:20:14
  He has some really good concise videos. 2030 minutes on on Three
• 1:20:20
  Mile Island on Fukushima on a bunch of other lesser known
• 1:20:24
  nuclear incidents with. Orphan sources of radioactive
• 1:20:28
  material and if you really want to understand the science and
• 1:20:33
  the implications of some of those accidents, I'd I'd
• 1:20:36
  encourage you guys to check out that that YouTube channel
• 1:20:39
  because he does a way better job than than I could right now live
• 1:20:44
  in digging into the details of each of those individual
• 1:20:46
  incidents. But I'll just say, broadly
• 1:20:49
  speaking, radiation is just to be respected, but definitely not
• 1:20:54
  feared, right? Just like electricity.
• 1:20:56
  Don't go licking wires, right? And you won't get shocked, you
• 1:21:00
  know? What, what would you say?
• 1:21:01
  Again, I'm, I'm playing devil's advocate here to just address
• 1:21:04
  all, because address all the, the attacking points from the
• 1:21:08
  media and from the, how do I say this, from the, from the death
• 1:21:13
  cult of humanity, which is the people that believe that somehow
• 1:21:19
  losing, using less energy is going to make the world a better
• 1:21:22
  place. But I would argue the exact
• 1:21:24
  opposite. One of the arguments that they
• 1:21:27
  would say is the storage of, of used rods.
• 1:21:32
  I think that's the correct term. So, you know, they kind of
• 1:21:36
  haven't really figured out like that.
• 1:21:38
  Like right now I think they just they, they put them in like a
• 1:21:41
  concrete coffin and they kind of leave them on sight and, you
• 1:21:45
  know, they stay radioactive for I think it's a couple thousand
• 1:21:48
  years or so. Is that overblown as well?
• 1:21:53
  Once again, I would say it depends on what your it's kind
• 1:21:59
  of like when you assess risk of any kind, right?
• 1:22:02
  Certain people say that some risk is acceptable, others would
• 1:22:05
  say no risk is acceptable. There's a spectrum there and
• 1:22:09
  certain people are going to fall in certain places.
• 1:22:11
  For me personally, if you've got a really thick concrete casket
• 1:22:16
  that's storing your fission byproducts, you know, you can,
• 1:22:21
  you can stand right next to one. You know, I'm, I'm not right
• 1:22:24
  next to it, but I'm in the vicinity of one now having this
• 1:22:27
  conversation with you guys and I'm not, you know, glowing green
• 1:22:31
  with three eyes. Your eyes are technically
• 1:22:33
  glowing green right now. But you know it, if you look at
• 1:22:40
  storage on site locally, for example, we used to actually
• 1:22:44
  truck all of the waste to a storage facility.
• 1:22:47
  And then there was some controversy around that and some
• 1:22:51
  laws were passed where it was basically like, hey, we're going
• 1:22:54
  to store it on site at each facility now.
• 1:22:57
  And there are many ways that you can handle the storage of
• 1:23:01
  nuclear waste. In fact, there are next Gen.
• 1:23:03
  reactors that can take that waste and then use it to
• 1:23:06
  generate more energy. Some of the molten salt reactors
• 1:23:10
  which are pretty interesting technology as well.
• 1:23:13
  Probably once again, not a tangent we would want to go on
• 1:23:15
  right now, but the point is there are solutions, whether
• 1:23:18
  it's storing it in the butt underneath the ground in a
• 1:23:22
  mountain somewhere and or actually just recycling that
• 1:23:27
  waste, using it to generate more, more energy.
• 1:23:29
  A lot of the isotopes are actually valuable for medical
• 1:23:34
  devices and or various forms of medicine.
• 1:23:37
  So there's a lot of uses for it. It doesn't necessarily have to
• 1:23:40
  just be put in a concrete cask and sat on site.
• 1:23:43
  But even if that is what you do, we'll still, once again, you
• 1:23:47
  line it with lead, you surround it with concrete.
• 1:23:49
  And you know, aside from somebody really nefariously
• 1:23:54
  trying to, to do something to damage it, which if they did,
• 1:23:57
  they would need a lot of firepower, to me, it's a non
• 1:24:00
  issue. But once again, I recognize that
• 1:24:03
  I'm very biased because it's the field that I work in.
• 1:24:06
  And I do think that being said, because I'm rad worker
• 1:24:09
  certified, I understand radiation like to a degree that
• 1:24:13
  the average person doesn't. I, I think that gives me a
• 1:24:16
  certain level of comfort that if somebody that just hasn't been
• 1:24:20
  exposed to it doesn't have the knowledge, you know, it.
• 1:24:23
  Once again, people are used to be scared of electricity when it
• 1:24:27
  wasn't a common thing that we were all experiencing in our
• 1:24:30
  day-to-day lives. And now nobody thinks twice
• 1:24:33
  about flipping a switch and the lights come on.
• 1:24:35
  It's just a part of life. And so I think there's
• 1:24:38
  absolutely a place where nuclear could get to there.
• 1:24:41
  And I think we were on that trajectory until unfortunately,
• 1:24:45
  you had some pretty strong propaganda against technology.
• 1:24:48
  So that's my general take on it. Technically it's not propaganda,
• 1:24:53
  it's media literacy, but but no in in regards.
• 1:24:59
  And again, the reason I played devil's advocate is because I
• 1:25:01
  kind of want to just lay out all of the counter arguments against
• 1:25:04
  nuclear energy. Now, what would your argument be
• 1:25:07
  for? For example, why shouldn't we
• 1:25:10
  build that? Like for me, it's just so
• 1:25:12
  incredibly obvious. But like, why shouldn't we build
• 1:25:14
  out these giant solar farms and these giant wind farms, like
• 1:25:20
  they don't have the dangers of radiation And you know, the
• 1:25:23
  renewable man, like, you know, we can just use all these
• 1:25:27
  renewable sources. Like what, why should we focus
• 1:25:30
  on nuclear energy versus, you know, these giant, you know,
• 1:25:35
  they, they always say renewable, but you know, those rare earth
• 1:25:38
  metals required for those solar panels, bro.
• 1:25:40
  And the amount of birds those wind turbines are killing man.
• 1:25:44
  No one likes to talk about that. But what's your take?
• 1:25:47
  What's your take on all that? Yeah.
• 1:25:49
  So that's why I'm primarily against grid scale solar, right?
• 1:25:54
  Like I said, I think if you want redundancy at your house and you
• 1:25:59
  know, in the event of a storm or something, you lose connection
• 1:26:02
  to the grid temporarily, you've got some solar panels and a
• 1:26:05
  battery backup. I think from an individual
• 1:26:08
  sovereignty standpoint, it's actually not a bad move to have
• 1:26:11
  something like that. But if we're talking about
• 1:26:14
  trying to power the grid, which is a whole different, you know,
• 1:26:17
  thing, right? It's an interconnected massive
• 1:26:20
  machine. And adding instability to a
• 1:26:23
  machine is just generally speaking, never a good thing,
• 1:26:26
  right? If if I told you, hey man, I
• 1:26:28
  really want to make one of your tires on your car square, you'd
• 1:26:32
  look at me like I was crazy, right?
• 1:26:34
  And it's like, no, that's incompatible with my car's
• 1:26:37
  functionality. Like that doesn't make any
• 1:26:38
  sense. And that's kind of like what
• 1:26:41
  wind and solar do to the grid. They destabilize it, right?
• 1:26:44
  You're adding intermittent sources of energy.
• 1:26:46
  And I would say even beyond some of the points that you brought
• 1:26:51
  up where renewable, not really, right, because the, the fine
• 1:26:56
  print there, if you read it is, well, you got to replace the
• 1:26:58
  wind turbines every six to 10 years.
• 1:27:02
  And the solar panels, you have a hailstorm and they're all FUBAR.
• 1:27:06
  So, you know, you got to replace the entire 5000 acres solar farm
• 1:27:10
  just because you have one thunderstorm.
• 1:27:12
  And oh, by the way, all the places that have a lot of sun
• 1:27:15
  tend to also have thunderstorms. So that's the thing, right?
• 1:27:19
  You know any They're sensitive to weather events.
• 1:27:22
  Yeah, it's, it's almost like as if there's like night time and
• 1:27:25
  then like there's times where there's no wind, you know, like,
• 1:27:28
  yeah, it isn't that interesting. So the reason and, and we are
• 1:27:33
  getting close to the top of the show.
• 1:27:34
  And I do want to make it full circle guys, cuz we again, we
• 1:27:38
  guys know the theme of the show. We will be your guide through
• 1:27:41
  the separation of money and state and all the topics that we
• 1:27:44
  talked about today, whether highlighting the insanity of the
• 1:27:48
  proposed income tax, you know, highlighting the
• 1:27:52
  disintermediation of information and now highlighting the
• 1:27:56
  importance of Bitcoin and energy macro macro minutes, Matt, like
• 1:28:02
  what is like, why is it a match made in heaven?
• 1:28:05
  And my final question to you is, how is Bitcoin going to
• 1:28:09
  fundamentally change the end of energy industry for the better?
• 1:28:15
  Easy question, super simple answers, right?
• 1:28:18
  No, it's such a, it's such a, a novel thing to have a flexible
• 1:28:28
  demand for a grid. And that is the really important
• 1:28:31
  thing to understand, right, is the grid is designed, it's built
• 1:28:35
  with an excess of capacity so that it can respond to any new
• 1:28:39
  demands coming in. So you're always producing more
• 1:28:43
  than the grid is demanding because at any moment the grid
• 1:28:46
  may demand more and there's a response time.
• 1:28:49
  Well, Bitcoin mining shifts that to where the energy generation
• 1:28:56
  facilities can just generate at a steady rate and the grid
• 1:29:01
  operators can basically just tell the miners to shut off if
• 1:29:05
  they need more capacity to go to other places.
• 1:29:08
  And in fact, the miners want to do that anyways because when
• 1:29:11
  everybody else is demanding more energy, I tell people this all
• 1:29:14
  the time on my spaces. I'm like, you're actually
• 1:29:17
  willing to pay more for your electricity to make toast in the
• 1:29:20
  morning than a Bitcoin miner is to make Bitcoin.
• 1:29:24
  That's how cheap bitcoiners are, right?
• 1:29:27
  They will not out compete you on on price per kWh, but what they
• 1:29:32
  do in stabilizing the overall system is lower that cost for
• 1:29:37
  everybody else around. And that's just such a novel
• 1:29:40
  thing. It's so important for human
• 1:29:42
  flourishing. Like if you tell people, hey,
• 1:29:44
  having Bitcoin miners in your area will lower your electricity
• 1:29:47
  prices, They may look at you a little cross eyed because
• 1:29:50
  they've probably been told the opposite.
• 1:29:52
  But that is literally what happens.
• 1:29:54
  And to me that's that's just so powerful.
• 1:29:56
  It's like, who doesn't want to have a cheaper electricity bill,
• 1:29:59
  right? A million percent, 1,000,000%.
• 1:30:02
  And, and I, and this is by the way, like this isn't fury
• 1:30:05
  anymore. This is actually happening in
• 1:30:07
  Texas. Like Texas is providing
• 1:30:09
  stability for the Texas grid. It's actually allowing the
• 1:30:13
  rollout of renewable energy sources without the necessity of
• 1:30:17
  government subsidy because all of a sudden, because they are,
• 1:30:21
  you know, there isn't sun all the time, there isn't wind all
• 1:30:25
  the time, and you want a stable grid, Bitcoiners are always that
• 1:30:30
  buyer of last resort. So it allows the grid operators
• 1:30:33
  to kind of plan ahead because they know that the bitcoiners,
• 1:30:36
  the Bitcoin miners are always going to be like, hey, give it
• 1:30:38
  to me if you no one's going to take it.
• 1:30:40
  So yeah, man, it's. You know, really quick 11 like
• 1:30:46
  slightly different way to to say that right is because you just
• 1:30:49
  mentioned the subsidies piece. Bitcoin mining is so powerful
• 1:30:53
  for the grid that it takes technologies that makes no sense
• 1:30:56
  otherwise, and it actually makes them make sense, right?
• 1:31:00
  Because wind and solar made no sense for the grid without
• 1:31:02
  massive battery backup before. But Bitcoin mining actually
• 1:31:06
  makes a technology that makes no sense for the grid start to
• 1:31:09
  actually make sense. And that just tells you by
• 1:31:12
  itself how powerful it is. And I would just say one last
• 1:31:15
  point of clarity, because I've gotten this feedback before, is
• 1:31:18
  that I, I come across as like kind of a nuclear only guy who's
• 1:31:21
  anti wind, anti solar. And, and I'm definitely not, I'm
• 1:31:24
  a pro free market person. If you want to contribute to the
• 1:31:28
  grid, whether it's burning coal, burning oil, natural gas,
• 1:31:32
  nuclear, wind, solar, I really don't care.
• 1:31:35
  I just think it should have to compete in an open free market
• 1:31:37
  on its own merits. And as long as you're able to
• 1:31:40
  produce electricity at a reasonable cost, I think you
• 1:31:43
  should be allowed to participate.
• 1:31:45
  Amen to that. Amen to that.
• 1:31:47
  All right, everybody, this was Simply Bitcoin Live for August
• 1:31:50
  21st, 2024. I'm your host Nico.
• 1:31:52
  This is my Co host, Optimus Fields, and this is our guest
• 1:31:55
  for today, Matt from Macro Minutes.
• 1:31:58
  Take care everybody. We'll see you tomorrow for a
• 1:31:59
  brand new episode of Simply Bitcoin Live.
• 1:32:04
  It was brought to you by bitcoinwell.com on a mission to
• 1:32:08
  enable independence.