Latest / Simply Bitcoin / Did FTX Rugpull El Salvador's Bitcoin?! | EP 617

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Did FTX Rugpull El Salvador's Bitcoin?! | EP 617 · Simply Bitcoin

0:18
Yo, today is November 14. 2022. Welcome to Simply Bitcoin live.
0:24
We are your number one source for this peaceful Bitcoin
0:26
Revolution recover, breaking news, culture and me Matic
0:29
Warfare. We will be your guide through
0:32
the separation of money and state.
0:34
So Mike no regrets started a rumor about a El Salvador, FTX
0:40
and Bitcoin. We're going to clear that up.
0:43
We really believe in this concept of projection, where if
0:46
someone's guilty of something they project.
0:48
Checked on to the other person of what it is.
0:50
They're guilty of themselves. We're also going to cover the
0:53
whole ft x drama and why we believe it's Pure Noise, you
0:57
guys have to focus on the signal, right?
0:58
The signal is here, the separation of money and say, so
1:01
we're going to get to all that, but we are going to go through
1:03
all the details because we did get a lot of comments last
1:06
week's like, hey, why aren't you guys covering the FTX is because
1:09
we were traveling because of the Pacific Bitcoin conference and
1:12
we only did two episodes last week, we're back.
1:15
We're going to be doing episodes all week long, simply Bitcoins
1:17
back. Also, have some changes coming
1:20
up to the show. We're going to change a little
1:22
bit. We're going to talk a little bit
1:23
more in detail about what all that means, towards the end.
1:27
But anyways, before we start the show when I introduce my awesome
1:30
Coast. Are you doing Opti?
1:33
What's up Nico? Hello, everyone.
1:35
We're back. I know you missed us.
1:38
It was a crazy week man. We were working our butts off
1:41
all week, but it was good to do it.
1:43
All in person is fun to, you know hang out with Nick, a lot
1:46
longer than I usually do as you guys can see.
1:48
See, I'm not in the normal Studio.
1:50
I am back at my parents house right now for a little bit.
1:54
So, you know, we're going to make it work, anyways, we're
1:57
gonna make it work anyways, but I'm excited for this one.
1:59
I'm excited to, you know, have you run down through all all the
2:03
details about this FTX debacle and then of course, we're gonna,
2:08
we're gonna continue on the sauce and and do what we've been
2:11
doing for a while, guys. I get a lot of flak sometimes in
2:14
the space because we go over the basics a lot and we, and we
2:17
cover the Mentors. Consistently because there's new
2:20
people coming into the fold and they don't know as much as we
2:23
know. And so I'm going to reiterate
2:25
that in the daily culture, go over some of the Bitcoin beams
2:28
and why it is so important for us to continue to spread the
2:33
basics around because we could avoid this.
2:36
FTX debacle of people were just listening to us more often but I
2:39
won't get into it later. Absolutely.
2:41
We got, we got a, we have the best hair in Bitcoin, he's in
2:45
the audience. Shut up, BTC sessions.
2:48
Rechannel. Anyways guys, let's start the
2:50
show. Let's do this.
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Visit noddle Dottie you today. All right, at the time of
3:21
recording the Bitcoin price is 16,000 488.
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Whoa, hold on Bitcoins under 20K major discount, holy crap, pause
3:32
the show right now. Stack stack some SATs because
3:35
this is looking back looking back on these prices a couple of
3:39
years from now. This is, this is a, this is a
3:42
big deal. Anyways, that's per dollar 6067
3:45
block height, 760 763,000 87 reachable Bitcoin nodes, 14,800
3:52
19 blocks that happening 76,000 833 having estimate April 22nd,
3:58
2024 total lightning network capacity. 5,000 136 capacity
4:02
value. 84 million, u.s. dollars. Oof oof, my hopes and dreams are
4:09
that we are going to stay over that hundred million dollar.
4:11
Mark, those hopes and dreams died.
4:14
Realized monetary inflation were at one point seven, seven
4:17
percent still taking fire. Currencies to Absolute School
4:21
Bitcoin continues to be the best savings technology.
4:24
The world has ever seen market capitalization 316 billion
4:28
dollars with a B. So this FTX debacle has made
4:34
headlines, right? It's just it's been explosions,
4:37
been this giant scam and essentially what happened,
4:41
right? Just to summarize it very
4:42
quickly is that Sam, which the CEO of Sam Bank manfried was the
4:47
CEO of FTX. He was you.
4:49
Using people's deposits as his own personal slush fund, and he
4:53
was using those funds to speculate on the market himself
4:56
which is all fine and dandy Celsius, did something very
4:59
similar by the way, there's all fine and dandy.
5:02
But the problem is that, that works during a bull market that
5:05
does not work during a bear market, right?
5:08
So he was stealing and then this comes to the other concept of
5:12
paper Bitcoin, right? Clearly a lot of Bitcoin that
5:16
was being bought and sold on ft x wasn't actual Bitcoin.
5:19
Paper Bitcoin so just a thought experiment.
5:22
What would the actual price of Bitcoin be?
5:26
If these exchanges didn't focus on should coins, they just
5:29
focused on bitcoin. And if there was only the
5:32
Bitcoin that actually existed was the, the Bitcoin that was
5:35
actually on those exchanges. Clearly all these exchanges are
5:39
most of these exchange, some of these exchanges.
5:40
Better said, our fractionally reserved, right?
5:43
So it's just a, just a bunch of bullcrap.
5:46
And anyways, we have cattle Along on MSNBC.
5:49
And she's been, she's going to make the argument that we are
5:52
making this week, which is our sorry today, which is FTX is
5:57
noise, Bitcoin is the signal. But anyways let's check out what
6:01
Catalan has to say and then we'll talk about it off duty.
6:04
One is ever going to make more than 21 million Bitcoins.
6:07
And so the moment that there are more claims to bitcoin, they're
6:10
only nineteen point two million that have been outlined and
6:13
outstanding today. There are clearly a lot more
6:16
than nineteen point, two million claims to bitcoin out there and
6:18
all these insolvent intermediaries that are going
6:21
bust and they're all claiming all I just have a temporary
6:24
liquidity problem. No they don't.
6:25
They're fundamentally insolvent and they went insolvent.
6:28
The moment they started offering more than the nineteen point two
6:31
million claims to bitcoin that Games because there's no lender
6:35
of Last Resort, there is no Clearinghouse to bail them out.
6:38
When they get into these liquidity crunches, that means
6:41
that the insolvency that they had all along is being revealed
6:45
and good riddance to it all because this Leverage is not.
6:50
It doesn't have anything to do with Bitcoin these Market
6:53
structure Wall Street mercenaries came in and started
6:56
leveraging it up like crazy in the last few years deserve to be
7:00
flushed. I don't wish it on anyone.
7:03
But for those of Us, who really do care about the technology and
7:06
the the signal other than the noise.
7:09
The noise is there is the rec that rubbernecking overall doing
7:12
on the, on the wreck? Here's the signal Elon Musk.
7:15
Yesterday announced that Twitter is going to be offering
7:19
peer-to-peer payments on the Twitter platform that is already
7:25
integrated with Bitcoins lightning Network.
7:27
He could turn that on immediately.
7:29
Today, that yeah, using the real technology that is the north,
7:33
the sea. No through the noise and I think
7:37
she's spot on, right? And not only that, right?
7:40
We're going to cover this tomorrow actually been talking
7:43
to some people, some insiders in the industry, she'll announce
7:47
and they actually announced a partnership or a sponsorship.
7:49
Better said with Bitcoin magazine shell, the giant Energy
7:52
company is getting into the mining industry.
7:56
We're going to get into the details about that tomorrow, but
7:58
if you pay attention to a lot of this signal, right, Ilan, files
8:01
that Twitter is going to be used for peer-to-peer.
8:04
Transactions. He already filed that, right?
8:06
He made the official filing. Not just, it's just not just
8:09
him. Telling people were telling a
8:10
new source. He made the official sign to
8:12
file for Twitter, being a payments platform.
8:15
So that's absolutely massive and of course, shell getting into
8:19
the mining industry. Now what's the noise the noise
8:21
is this FTX bullshit, right? And all of this could have been
8:25
avoided and we're going to try to drill this into your guys's
8:28
head throughout this episode. All of this could have been
8:30
avoided. If you just take in Bitcoin into
8:33
self, City and Shout Out Beauty on because beauty is gonna whoop
8:36
me if I don't say that's and you do that by using by using good
8:41
Bitcoin wallets like blue wallet.
8:43
Electrum is a good one. One wallet is a good one Opti.
8:48
Help me out here. There's there's so many we all
8:50
have our favorites and wallet wallet is satoshi's.
8:53
I got Breeze back to bitcoin core cold card seed sign are and
8:58
if you're more advanced, you know, you could use Zeus and Zap
9:01
for lightning node. So I'll cover it a bunch more
9:04
and will continue to beat this in people's heads as much as
9:07
possible because this is how we spread the signal.
9:10
Get people using the right tools because we could have avoided.
9:14
This guy's exchanges are not wallets 100% And I think that's
9:19
the, that's the signal right there, right?
9:20
Is that the, the signal is Catalan saying itself, and she's
9:25
saying it, right? And she is, she's the founder of
9:28
custodial bank, which is like the first I hate using his
9:31
words, but it is what it is. The first crypto.
9:34
Bank, right? They filed for a federal bank
9:36
Charter as well as Kraken. Kraken is trying to do it as
9:39
well. And she's the one that's telling
9:42
you that the FTX thing is noise, right?
9:44
But it's funny because that's what everybody's focusing on.
9:47
Right? Is this as go my God this fraud
9:49
and everybody's right? Like the whole thing is just
9:52
it's terrible. But this entire time if you've
9:56
listened to bitcoiners advice we've been Vindicated right?
10:00
If you've just mad Odell says it perfectly if you just stayed
10:03
humble. Stack SATs, take that Bitcoin
10:06
that you you know bought off exchange.
10:08
You mind it you got it peer-to-peer and take that
10:10
Bitcoin into Cold Storage, you know, hide the key and just
10:14
forget about it. If you just did that, none of
10:17
this stuff would have affected you.
10:19
In fact, not only did it not affect you right now Bitcoin is
10:23
at a discount because of Sam's bullshit, right?
10:28
I don't know what else to say. Opti you want to chime in before
10:31
we move on to the news? Yeah, yeah.
10:33
First off. Caitlin long with the sauce and
10:36
not pulling any punches in that clip.
10:39
Absolutely love to see it. And first I missed the whole
10:43
Twitter peer-to-peer payment announcement so that's super
10:46
super interesting to hear and I'm excited to see where that
10:49
comes from but back to Caitlin. Like guys we tell you that every
10:53
single day taking Bitcoin into self custody is the revolution
10:57
because if you leave big horn on exchanges their rehypothecation
11:01
your Bitcoin let's not pull any punches guys there's way more.
11:04
Or paper Bitcoin out there than Bitcoin.
11:06
And it's becoming very obvious because I don't know if you've
11:08
noticed the price lately but it is cratering because there's
11:12
more claims to bitcoin. There's more paper claims to
11:14
than there are Bitcoin. And someone said in the chat,
11:18
like these exchanges are not your friends.
11:20
This is why we tell you guys. Take Bitcoin into self custody
11:24
because once your coin is in self, custody, once is in cold
11:27
storage and you on the private keys, they can't play these Fiat
11:32
games with Bitcoin and this is We harp on this point every
11:37
single day of the week that you need to take your Bitcoin in the
11:40
self. Custody stop being afraid of
11:43
losing your keys and thinking it is too complicated, it is very
11:46
simple to do and this is the revolution guys, we need to
11:50
defund these people because if you don't take your Bitcoin into
11:54
self custody, they own that Bitcoin and they can do all
11:57
kinds of crazy stuff that traditional banks will do with
12:00
your money you because once it's in a bank, it's not your money
12:03
anymore. That's how they make money is by
12:05
selling more Bitcoin than they have.
12:07
So, you know, shouts out to Kaitlyn long for for you know,
12:11
giving us the sauce and also on mainstream news but in a silver
12:15
lining to everything you know, a bunch of Bitcoins were created
12:18
this weekend. And you know, we don't like the
12:20
glow and and you know we don't we don't like to kick the horse
12:23
while it's down. But this is why we tell you guys
12:27
to take Bitcoin itself custody because you can avoid all of
12:29
this, like, all my Bitcoin friends.
12:31
What have we been doing? We've been watching the
12:33
fireworks. And trying to stack as much
12:35
Bitcoin right now as possible, you are unaffected, if you have
12:38
Bitcoin in Cold Storage. So the only thing that that you
12:42
need to be worried about is taking your Bitcoin off
12:44
exchanges or buying Bitcoin on KY C, or whatever you got to do,
12:48
but do not leave Bitcoin in someone else's custody because
12:51
it's not your Bitcoin, not your keys, not your Bitcoin.
12:54
It's a very simple Meme and we're gonna, we're gonna keep
12:57
covering this for a while. I just, I know this news isn't
12:59
going out of the new cycle so it's that we're going to Make
13:04
sure you understand this, but I think.
13:06
And, you know, the that's the, it's so simple, it's
13:10
complicated. I think I said this to you when
13:12
we were in La Opti and no BC session said, is it says it best
13:16
by coin, join Cold Storage. It's really not that difficult
13:20
buy Bitcoin, earn Bitcoin, mine Bitcoin.
13:22
You take that Bitcoin you put in the cold storage.
13:24
You could coin join it as well you put in a coin store that's
13:26
it. That's all you have to do right.
13:28
You know a lot of this a lot of this bullshit is because people
13:31
get carried away with greed they're like oh I'm late to the
13:33
party. I'm I want more Bitcoin.
13:35
I'm going to you know, try to trade these shit coins.
13:37
You know dude PPL. Get rekt, man, that people get
13:40
wrecked and this bear Market is no different and it's just so
13:43
it's clearing out all the bullshit nature is healing
13:47
itself. But anyways let's get some news.
13:51
The Daily News brought to you by B box to bitcoin, only
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additional Hardware wallet by shift crypto crypto like
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cryptography. It's secure, it's open source
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and it's so easy, your mom can set it up.
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Self custody is the revolution in the bit box.
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Makes it simple, do not leave your Bitcoin on an exchange
14:11
order. A bit box today.
14:13
All right so let's clear out what happened in the title
14:18
couple days ago, unfortunately. We were late.
14:20
So we couldn't cover right on the dot.
14:22
Mike novogratz said on CNN BBC, super irresponsibly that El
14:27
Salvador was potentially exposed to f d, f.
14:31
Because F DX, because they after they actually left Bitcoin on ft
14:36
x. Now quickly, the Twitter immune
14:39
system reacted savagely. Stacey was like, Stacey Herbert
14:43
was like, you know, that that's BS.
14:45
This is a tweet by CZ. Mandy amount of information is
14:48
insane. Exchange messages with present a
14:51
mooc la. A few moments ago.
14:53
He said we don't have any Bitcoin in ft x and we never had
14:56
any business with them. Thank God.
14:58
Exclamation mark. Now we mentioned in the very
15:01
beginning of the show. Something called projection,
15:04
right? What Mike novogratz was doing
15:06
was projecting on to El Salvador and I'm buchelli.
15:11
What, he was guilty of himself, and the reason I wanted to cover
15:15
this guy's is because this article came out either today or
15:18
yesterday. The headline for audio listeners
15:21
billionaires Mike, novogratz discloses 77 million dollar
15:26
exposure to crypto exchange FTX Mike novogratz was the one that
15:33
got wrecked, not El Salvador, but I don't think.
15:36
I don't think he, he could have allowed himself to look that
15:41
much like a fool on MN on MSNBC. So what he clearly did was throw
15:49
The country of El Salvador, right?
15:51
Because you know what, you got to beat it up.
15:52
Y'all them all the mainstream media is doing it, you know,
15:54
might as well, throw them under the bus.
15:56
So he blamed El Salvador for what he was guilty of himself.
15:59
Let's check out some of the details Galaxy digital Holdings,
16:03
the crypto financial services company, founded by billionaire.
16:06
Michael novogratz has disclosed a seventy six point eight
16:09
million dollar exposure to collapse exchange ft x and
16:12
expects the turmoil in the industry to continue in the
16:15
weeks ahead Galaxy, which uses FTX to hold assets said, Forty
16:19
seven point five million dollars worth of assets is currently in
16:22
the withdrawal process, the company disclosing its
16:25
third-quarter results, FTX co-founded in 2019, by Chief
16:28
Executive sandbank been fried and Gary wanted withdrawals on
16:33
Tuesday, citing, a liquidity Crunch, and agreed to buyout
16:36
offer from Finance which has since backed out of the deal
16:39
galaxies neck. Comprehensive loss was 68 Point.
16:43
1 million dollars compared to compared with a 570 million
16:47
dollar gain in the same period a year ago.
16:49
Primarily because of unrealized, losses of Investments driven by
16:53
reduce valuations under external market conditions, quote, we are
16:57
going to have to be nimble and agile for the next two to 12
17:01
weeks. As this digest and people really
17:03
make sense of what happened, dude, chick coiners getting
17:08
rekt. That's what happened, bro.
17:11
And of course, you know, trying to scape go, I'll Salvador was
17:14
part of it and I'm sure that's just trying to make himself feel
17:17
better. It's like nah, bro.
17:19
El Salvador's in Bitcoin, and in Bitcoin.
17:22
What you do is you, you bite on Exchange, you put it in self
17:26
custody, that's it and a story. But if you try to, you know,
17:31
deal with the shit coin casino and you leave on your money on
17:35
exchanges, this is what could happen to you, right Opti said
17:38
it in the beginning, not your keys, not your corn, not your
17:43
keys, not your Bitcoin, like novogratz shame on you, brother,
17:47
but exposed That's for sure. Opti.
17:50
What are your thoughts, bro? Well, first and foremost, like
17:54
you said, you know, the amount of shit coin projection.
17:56
That's happened in this last week is absolutely insane.
17:59
And, furthermore, Mike novigrad should know better.
18:02
Like, he's a public-facing person in the fact that he's
18:04
throwing El, Salvador under the bus, you know, the fact that he
18:08
got wrecked in, you know, the news came out a few days later
18:11
that he's the one that got wrecked.
18:13
It's just it's just standard shit coin things, guys.
18:16
Like you know, he said he does. I'll sell her under the bus.
18:19
And then he tries to walk it back and says I'm sorry it's
18:21
like the south parking. I'm sorry guys.
18:23
Like I should have known better is it's just standard shit coin
18:27
things on Twitter and and it's crazy.
18:29
Furthermore not just not novogratz but all the other shit
18:33
coin, Advocates on Twitter. This last week trying to roll
18:36
back, they're atrocious. Shills the fact that, you know,
18:40
they're trying to insulate this whole scenario as just a one-off
18:44
thing. It's really crazy.
18:46
The amount of mental gymnastics that people have Going through
18:50
this last week and as a bit corner someone that just watches
18:53
it from the sidelines, you know, like I hate to laugh at other
18:57
people's pain because a lot of people got wrecked but like this
19:00
is why we this is why Bitcoin is are so toxic.
19:03
This is why Bitcoin is trying to propagate these memes all the
19:06
time is because we're not just out here to being assholes to be
19:09
assholes. You know, there are some
19:11
assholes out there but for the most part it's like we all got
19:14
wrecked in the past and you could save yourself if you just
19:18
listen to the Owners out there because the safest bet is just
19:22
going Bitcoin only and we are trying to stay and do this for
19:26
the long run and, you know, shouts out to out, Salvador,
19:29
naive buchelli for, you know, going out on Twitter and
19:32
clearing the rumors up and basically doing his own dunking
19:35
on Twitter. So, you know, it's again, I
19:39
don't want to kick a dead horse, you know, Kick a Hole swabs down
19:43
but like guys, we told you. So we've been telling you this
19:46
was going to happen and, you know, I really like honey.
19:49
Was it like nah man like we're Bitcoin only.
19:52
This is why we say self custody is the Revolution take Bitcoin
19:55
in cold storage because your Bitcoin in Cold Storage is
20:00
unaffected like yes the prices down.
20:03
Yes. You know, we're going to have to
20:04
deal with the prolong even longer bear Market.
20:07
But this is why we say take your Bitcoin in the self custody
20:10
because you never know when this Black Swan event is going to
20:13
happen and you get completely wiped out, stay humble Stacks at
20:17
provide value and take Bitcoin in the Old storage and you will
20:20
be unaffected 100%. And, guys remember the, the this
20:25
FTX thing, right? The same problems that have been
20:29
happening for a very long time. Now, the bank runs happen in the
20:34
1930, it's like history is repeating itself once again
20:37
because shit coins are fundamentally Fiat.
20:42
Like they're controlled by a group of human beings.
20:45
This Elite group of human beings and they get to dictate the
20:48
monetary Policy or the direction that they want said, shit coined
20:52
to go, right? And if you compare that with
20:54
Bitcoin, Bitcoin has figured out, it's a Toshi, has been
20:58
figured out better said, and then he gave that gift to us how
21:01
to separate the monetary policy out of the hands of humans.
21:05
And then you add to centralization you add the node
21:08
Network. You not you add, you know, the,
21:11
the hash tree that continues to go up, which represents the the
21:14
amount of computational power, actively mining Bitcoin, which
21:17
continues to go The which means theoretically Bitcoin continues
21:21
to goes to get more secure. Dude.
21:24
It's very, very, very unique and a lot of these shit coins.
21:28
They portray themselves. Look, we have more features, we
21:30
do this, we do that, but in, but what they do, is that they
21:34
sacrifice to centralization in order to achieve those things,
21:38
and because they do that, right? They can't separate money from
21:42
State. Look at the example of etherium,
21:45
right? As soon as aetherium move to
21:46
proof of stake. We know now that the majority
21:49
Already of aetherium. Validators are actively
21:52
censoring for the u.s. government specifically, the US
21:55
Treasury Office of foreign assets control.
21:58
Now, going back to this idea. That ft x represents Fiat,
22:02
right? All the lies, all the
22:03
misrepresentations that come with Fiat and remember at the
22:07
tippity top of the bull market. There was crazy celebrity
22:12
endorsements that were backing up this exchange, right, mr.
22:16
Wonderful from Shark Tank is like this guy, can't get Scammed
22:20
Tom Brady right? You know if everyone's favorite
22:22
quarterback you want a cup or Super Bowls bro like it was
22:27
ridiculous and actually have a clip for you guys.
22:29
Check this out. This is this is cringe stuff.
22:32
Let's check it out. In managing the decisions on
22:37
which projects to to invest in because I'm very fortunate.
22:41
My deal flows insane. I see everything.
22:44
And I have to disclose, I'm a paid, spokesperson 22, ft x and
22:48
a shareholder there, too, because we mentioned them and
22:51
big advocate for Sam because he has two parents that are
22:55
compliance lawyers. If there's ever a place, I could
22:58
be that I'm not going to get in trouble, it's going to be at
23:01
FTX. So, what's up guys?
23:03
I'm here with my boy, Sam from f.
23:05
He acts we're at crypto Bahamas conference.
23:07
We're going to start the day when you some tick-tocks for you
23:09
guys and it's going to be amazing day.
23:12
We'll get started, we'll do a get ready with Me.
23:16
Sam, where you going bro, dude. Oh Fringe, embarrassing, and and
23:23
like, think about it, it's maniacal because it's like, if
23:26
you get all these people this face of approval, it was all a
23:30
lie. Once you look behind the hood,
23:32
right? The Miami Heat.
23:35
IAM sponsorship, right? That it was all bullshit.
23:39
It was all a lie and bitcoiners were attacked.
23:43
We were, we were telling me were screaming from the rooftops the
23:45
entire time. Stay humble stack SATs, buy
23:48
Bitcoin, mine Bitcoin, earn Bitcoin and just said, just send
23:52
that, that said, Bitcoin to your cold storage and that's it for
23:55
forget about it, right? But people didn't want to do
23:58
that. And here we are Vindicated, but
24:02
only after the prices collapsed, 70 80 %.
24:06
Hopefully, my hope is that through this pain and through
24:10
this wreck miss that, some people are definitely enduring
24:13
newly-minted. Toxic Maxi bitcoiners are being
24:18
created. And the realizing that there is
24:21
only one true, cryptocurrency, one, true cryptocurrency that
24:24
can separate money from State. And that is Bitcoin.
24:28
Anyways, let's cover because we were requested, let's cover what
24:32
really happened in this drama in The Saga.
24:35
Then very something, very interesting FTX had political
24:40
connections, not only to a certain political party in the
24:44
United States. You guys know the deal.
24:46
We are a political and simply Bitcoin we don't lean left or
24:48
right. We lean Bitcoin but it's very
24:51
interesting and also very interesting.
24:53
Right is remember guys remember Ross.
24:57
Hey is giving two life sentences.
25:01
Currently in a box right now and a high security prison.
25:05
And this schmuck. Who stole the life savings of an
25:10
ungodly amount of people. He's out and free and I wonder
25:16
why that is what we'll get to why that is.
25:19
And it's not that, you know, a lot of these Bitcoin, crypto
25:22
people are protected member, what they did to Arthur, Hays,
25:26
because B Max didn't adhere to, you know, the totalitarian, KY
25:31
caml policy so they made an example out of him.
25:36
But this guy, this guy's a sweetheart.
25:39
I wonder why that is what we're going to get to it.
25:41
But it's also very troubling because remember, A lot of these
25:45
regulations and a lot. What gives these people?
25:48
This ability to say, guys, you know, we want to implement this
25:51
kyc, they want to is this sense of morality.
25:54
It's like guys, we know we're trying to do what's best for
25:57
everybody, but clearly some people play by different rules
26:02
and that's exactly what happened during the 2008 financial
26:05
crisis. Not one Banker went to jail
26:09
because of that. And is Sam bank, man.
26:14
And he different, we shall see. We'll stay on top of it.
26:18
Anyways, FTX the 32 billion dollar.
26:21
An implosion today, we're talking about FTX the crypto
26:24
exchange that we saw its evaluation.
26:25
Implode from thirty two billion 20 Dollars in a single day, the
26:29
entire drama unfolded on Twitter and I'm going to pull up this
26:33
tweet by Lynn Alden which perfectly summarizes, it really
26:38
well. Imagine McDonald's makes its own
26:39
money. Let's call them clown.
26:41
Ex keep most of it, sell some of it to the market McDonald's,
26:45
then uses their remaining clown bucks as collateral for actual
26:48
loans. And then people remember, Clown
26:51
books aren't real and I think that explanation is absolutely
26:55
perfect. Now, let's get into the
26:58
political connections of this exchange, right?
27:01
Very, very sketchy, interesting stuff.
27:05
So cryptic collapse crypto currency exchange FTX had ties
27:09
to Ukrainian government, the web And top Biden advisor.
27:14
Very interesting FTX made waves, with early endorsements by NFL
27:19
Tom. Brady supermodel Gisele Bundchen
27:21
and NBA superstar. Stephen Curry FDX spent big
27:23
money on a Super Bowl commercial featuring Seinfeld in 2021.
27:27
FTX Inked, a reported 135 million dollar 19-year deal with
27:32
the NBA's Miami Heat arena to rename the American Airlines
27:35
Arena to the FTX Arena. They're already taking it down.
27:38
Check this out. There's a screenshot from a
27:40
tower that is facing the Top of the FDX Arena, they're already
27:43
pulling it down. Anyways, then the FTX collapse
27:46
happen within the span of a few days.
27:48
FTX co-founder sandbank been fried freed known in the
27:51
industry as FS. BF lost nearly all his sixteen
27:55
billion dollar fortune and what Bloomberg called one of
27:57
History's Greatest ever destructions of wealth hashtag
28:01
wrecked and well deserved by the way, Reuters reported that
28:04
between 1 billion in and two billion dollars in customer
28:07
funds vanished from the FTX crypto currency exchange.
28:11
The outlet also Claim that FDX secretly funneled 10 billion
28:15
dollars of customer funds into his Trading Company.
28:18
I'll meta research the Daily Mail claim that SBS alleged
28:22
girlfriend, Caroline Elson ran the sister Trading Company.
28:26
This is what happens. When you get coin on an exchange
28:29
is sense. It's not not your Bitcoin.
28:30
You're trusting that exchange to having try to have integrity,
28:35
but think about the incentives. The incentives are not aligned,
28:39
right? And I don't necessarily think
28:42
Look, you could definitely make the argument that SBF lacks
28:45
morality but I don't think that when he was doing all this stuff
28:50
he was like I'm going to steal people's funds, they would
28:52
Bernie Madoff. I think that they generally got
28:55
in over their heads and there was two you couldn't do anything
28:59
about it after the fact, right? So why am I bringing all this
29:04
up? Because take away the incentives
29:08
of people to cheat. Take away the incentives of
29:10
people to lie. And the way you do that is you
29:13
stop Outsourcing the responsibility of the storage of
29:16
your wealth. Period.
29:19
Don't give that person, that great of an incentive.
29:22
Remember the saying absolute power, corrupts, absolutely.
29:25
If you had sixteen billion dollars of client funds there,
29:30
dude, that person require that person needed a tremendous
29:33
amount of Integrity to tremendous amount of personal
29:37
responsibility. Right?
29:39
Not to take those decisions. Of course, there are exchanges
29:42
that are doing that, but not all of them.
29:45
And why you going to still? Statics changes that they aren't
29:49
doing that in the first place. Stop trusting other people
29:53
minimize that trust whether that's running your own version
29:56
of Bitcoin because you're running your own node whether
29:59
that's storing your own Bitcoin, stop trusting other people if
30:03
you don't have to minimize that trust and that also applies to
30:07
food that also applies to health do your own research.
30:11
Now you have the internet, the internet has empowered you but
30:15
you got to use it anyways. Get watch reported SBF
30:18
contributed more than five million dollars to Joe by.
30:21
I didn't and group supporting his 2020 presidential campaign.
30:24
He said he was motivated by buy-ins G.
30:27
Generic stability and decision making progress we talked about
30:31
the same Biden anyways. Beckman fried gave Democrats
30:33
nearly 37 million dollars in the twenty Twenty-One twenty-two.
30:37
Election cycle, SBF was the second biggest individual donor
30:41
to the Democrats, only to be surpassed by 128 million dollars
30:44
from George Soros and Maybank been fried.
30:47
That he expected to donate north of 100 million to Democrats in
30:50
the 2024 presidential in. But vowed to have a softer
30:54
ceiling of political spending of 1 billion afforded former
30:57
President, Trump ran again, Venkman fries mother Barbara
31:00
fried is a Stanford professor and has written extensively on
31:03
questions of distributive, justice in the areas of tax
31:06
policy property Theory, political Theory.
31:09
She is also the co-founder of mind, the gap, political action
31:12
committee, that was established in 2018 to help the Democrats
31:14
win elections the FDX. Connection to the Ukrainian
31:18
government and the weft Curiosity curiously, the
31:21
Ukrainian government launched a cryptocurrency donation website
31:24
in March that was backed by FTX coined s report aid for Ukraine
31:29
which has the backing of crypto exchange FTX taking platform
31:32
ever stake. In Ukraine's.
31:33
Coin exchange will route donated crypto to the National Bank of
31:37
Ukraine ever Stakes head of growth Vlad.
31:40
Lakota told coined s Ukraine's, crypto Savvy Ministry of digital
31:44
transformation is also involved and ever steak press release.
31:47
Dated aid for Ukraine is cooperating with the crypto
31:49
currency exchange ft x, which converts crypto funds received
31:53
into Fiat and sends the donations to the National Bank
31:55
of Ukraine. This marks the first ever
31:58
intensive, instance of crypto currency exchange directly
32:01
cooperating with a public Financial entity to provide a
32:04
conduit for crypto donations earlier this month.
32:06
FTX already converted 1 million dollars worth of a soul and
32:10
transferred it to the National Bank of Ukraine.
32:14
Very interesting. Now let's get into some Of the
32:17
theories that we're seeing hang on Twitter, which is definitely
32:21
something to have a note about. And sometimes theme is the best
32:26
the best thing to describe. So since us tax dollars at work,
32:30
and it's a picture of sandbank been freed and it's an arrow
32:33
that says donates dollars to democratic party packs and
32:36
candidates Democratic party backs.
32:38
B, in Biden, gives us tax dollars informant and form of
32:42
military humanitarian Aid to Ukraine.
32:45
And then Ukraine uses USA to Partner with FTX, and it's all
32:49
just one thing. Oh, man, this is crazy.
32:54
Now, here's Tom fitton. He says, while the buck Gang has
32:56
been harassing and threatening Elon Musk, and his company's,
32:59
one of the worst scams in modern Finance was being perpetrated on
33:01
the noise under the nose by regular White House.
33:04
He'll visit a visitor and the second biggest Democratic donor
33:08
SPF was a major Democratic, donors said, Elon Musk, so no
33:12
investigation and then Elon Musk does kind of like this whole
33:15
meme set up. Again since Sam Bank Freed cof
33:18
TX MIT graduate Gary Gensler. Head of SEC, former professor at
33:22
MIT, Glenn Ellison professor of Economics at MIT former boss of
33:27
Gary Gensler and then Caroline Ellison, CEO of amida, dated
33:31
Bank Winfrey daughter of Glen Ellison, which is a professor at
33:34
MIT this. It's not.
33:37
And that, that, by the way, isn't just a meme from anyone,
33:40
that's a mean from Elon Musk, right?
33:42
This is insane. Here's a screenshot of Ukraine
33:46
partners. With FTX ever stick to launch
33:48
new, crib, donation website. And here's Jack.
33:51
Personas computer conspiracy, theorists.
33:53
Say politicians are using Ukraine spent spending to
33:56
monitor money launderer. Direct payments for their own
33:58
re-elections media. Says No Such Thing occurred
34:01
reality FTX dude. Oh my God.
34:05
Okay now World economic forum is trying to you know clean up the
34:08
the garbage just like what they did with their Infamous article.
34:12
You own nothing and be happy. They made that article disappear
34:15
off the face of the internet. Well they did the Same thing
34:17
with this Clause, Schwab's World economic Forum has scrub, the
34:21
page about the 50x crypto exchange from it website.
34:26
Oh my god, dude. Oh my God, the guy's a piece of
34:33
shit. Dude, this is I don't.
34:34
This is worse than Bernie Madoff.
34:36
Holy crap, man. Just ran out with people's money
34:40
like a bandit but look, guys, it comes down to a very basic
34:45
issue, okay? Stop.
34:47
Trusting someone else with your money especially now that we
34:51
have a technology that makes that unnecessary or these things
34:55
will just continue to happen. Stop trusting people with all
34:59
this money, especially the money that doesn't belong to them, but
35:03
they use it as if, if they do belong to him.
35:05
And you know, the funniest part Opti is that he went on to say,
35:08
like, with like this God like, you know, complex, I drive a
35:12
Toyota, you know, I'm gonna give all this money away after I die.
35:17
Hey, Like my bro that she wasn't yours in the first place to give
35:20
away. Oh my god, dude.
35:23
Oh my God, guys. Stay humble Stacks that.
35:29
Take Bitcoin, You by earn it. You mine it, put it into self
35:32
custody, get yourself, a bit box, a treasure a ledger cold
35:36
card, download an ethical Bitcoin wallet like to use
35:40
Beauty on Zone words, right? Blue wall is good Specter
35:44
electrum just make sure it's open source.
35:47
Make Make sure it has a really good reputation and just man
35:50
take that Bitcoin itself. Custody moon is a good one as
35:53
well. And just avoid this man, this
35:55
could have all been avoided if people took personal
35:58
responsibility and learned and took self custody of their
36:03
Bitcoin Opti, what's good? Well, once you cover it like
36:08
this, like you couldn't even make this stuff like FTX
36:11
created, the worst of the Fiat system and, you know, we try to
36:14
put it on my block chain and I'm really surprised that This blew
36:17
up this quickly because they came out of nowhere in two
36:20
years, it just the game, completely got wreck and this
36:24
debacle just gets crazier and crazier.
36:26
As more news comes out, you know, bakeman freed parents
36:29
being compliance, lawyers, like the shell company that FDX was
36:32
structured under the celebrity endorsements.
36:35
Are, you know, for the proof that she coined are just
36:38
marketing scams are just one big marketing team?
36:42
You know, the fact that had billions of dollars of exposure
36:44
to bitcoin and had basically zero reserves, like so much
36:47
Paper Bitcoin coming out of FTX. It's absolutely insane.
36:50
Like you said, the money sent to the Democrats and then Ukraine
36:53
just using my blockchain to basically have blatant money
36:57
laundering. Like they're trying to, you
36:58
know, skirt this Fiat system and supposedly supposedly allegedly,
37:02
allegedly, allegedly, exactly the connections to Gary Gensler
37:07
Caroline's that like it's absolute clown show.
37:11
Like this is absolutely insane man.
37:14
Like this is nuts and then Just a, just, add on the mr.
37:19
Wonderful news. You know, he gets absolutely
37:21
wrecked and now he's parading on Twitter and anywhere he can to
37:25
say, oh now I want regulation in crypto land, and it's like, bro.
37:29
Like we've been telling you this for so long.
37:32
Like we thought that 3ac, the three hours capital in the South
37:35
Seas explosion was bad. Like this will be used for so
37:38
long to regulate Bitcoin regulate the crypto space at
37:41
large and it this is just a low-hanging fruit that they will
37:43
continue to parade around so that they can try to get at The
37:47
Grubby fingers on what we're doing out here.
37:49
But as we tell you guys all the time, Bitcoin is the only free
37:53
market in the world and this is nature healing itself.
37:55
So like there is no backstop. There is no bailouts and even
37:59
though some of the shit Corners would want that and they're
38:02
parading around about, we're going to have, you know, we're
38:05
going to have these funds so that we can bail out illiquid
38:08
exchanges and all this stuff. It's like just stop giving out
38:12
more paper Bitcoin than you have in Bitcoin.
38:14
And this would completely be Laminated guys, this is why we
38:18
go so hard on the idea of self custody is the revolution.
38:22
You know, tell the people that you buy to your Bitcoin from to
38:25
show you proof of reserves. They better have all the Bitcoin
38:29
that Acclaim. But even if they don't take your
38:31
Bitcoin into self custody, it doesn't even it doesn't even
38:34
matter. It doesn't even I'm saying, like
38:36
it doesn't even matter, it's like just don't trust them.
38:38
Like you buy it just withdrawal as soon as possible, then just
38:41
send it over like mine it or earn it peer-to-peer dude look
38:45
and thanks to the kyc AML Relations the criminals at ft x
38:49
now, have the name, addresses passport information of all
38:53
those customers. You can't recreate the Fiat
39:00
system on bitcoin. This wall happen continuously
39:03
until people learn what we travel for under.
39:05
One goes to jail over under. He goes to jail.
39:07
He it's under under. Yeah, because of the, the whole,
39:11
the whole political connections. Like it?
39:13
Yes. Exactly.
39:14
Look at everyone else. That's been, you know, blowing
39:16
up stuff like my schinsky decoys and he in jail yet.
39:19
That's the crazy part. He's stole people's money.
39:23
He stole Billy bro. I was reading horror stories man
39:26
of You're saying like this is my life savings.
39:29
My life savings and other gone like oh man, dude, oh man,
39:35
absolutely horrible like this, this will be used for a while.
39:39
The paint is all as criminals as money launderers.
39:43
As as we are doing something that isn't isn't this peaceful
39:47
revolution of just opting out of this madness and saving your
39:50
wealth for the future. Like this is why we tell you
39:52
guys to use ethical Bitcoin wallets to take Bitcoin in the
39:56
Of custody, provide, the value, stay humble Stacks at and you
40:00
can avoid all of this stuff guys.
40:02
Absolutely insane. Clown World confirmed, clown
40:05
World confirmed. Anyways let's get to the
40:08
culture, let's do it. The daily culture brought to you
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40:37
All right up t0, right? American hot oils back.
40:40
Yes. American hot.
40:42
Oh, everyone's favorite shit. Poster on Twitter is back and
40:46
he's got a very simple tweet here in.
40:48
This is why I wanted to start this, because we get a lot of
40:51
flak because we continue to go over the Bitcoin fundamentals
40:55
because you guys don't see the numbers, but we're getting a
40:58
whole lot of new bitcoiners out there, a whole lot of new
41:00
followers and not, everyone is deep in the weeds, not everyone
41:04
is in the Nuance like us. So, as hottel tweets, he says,
41:08
after this week, I feel we must continuously resided.
41:11
Restate the obvious and this is something that Nico and I have
41:14
been doing for a while. Nica goes into the weeds in the
41:17
news section, you know, he goes full Nico Jones on you.
41:20
And in the culture segment, I just go and reiterate what?
41:25
We all know to be the culture of Bitcoin, because there's new
41:28
people coming into the fold and we got a hit on with the sauce
41:32
so that they know how to protect themselves.
41:34
How to continue to not get wrecked at this stuff.
41:38
So we are going to continuously The obvious because people still
41:43
don't get it and it's becoming more and more obvious that
41:45
people don't get it because there's still so much paper
41:48
Bitcoin out there that we need to take our Bitcoin of
41:51
exchanges. Absolutely amazing.
41:53
Anyways, I found this thread by Gigi and it's exactly what we're
41:58
trying to tell you guys restate, the obvious as much as possible.
42:02
Don't get into the weeds, you know, give people the basics so
42:06
that they know what is going on and after you give them the
42:08
basics and they know what's going on.
42:10
We can get It into the Nuance but at Gigi puts in a tweet and
42:14
I'll put this in the description.
42:15
It goes, it's easy to dismiss. The Bitcoin mantras as just
42:18
meme. Stay humble Stacks at.
42:20
It's not your keys, not your Bitcoin, there is no second best
42:24
so let's unpack them. And guys, I'll put in the
42:26
description, I just realized that I haven't added it yet, but
42:29
I will after the show first and foremost, a humble, don't trade
42:32
don't use leverage. Don't overextend yourself guys.
42:35
What do I tell you? Every single day just provide
42:38
value. Saving Bitcoin and go and live.
42:41
Life, do not get crazy over. Leverage yourself go, you know,
42:44
hundred X yellow Long's on this stuff because this is what we're
42:48
trying to avoid. Is you guys wrecking yourself,
42:51
because it's very easy to get greedy out here.
42:54
We all want more Bitcoin but you need to stay humble and stacks
42:57
at skies and furthermore put that Bitcoin into cold storage
43:01
because the next meme not your keys, not your Bitcoin.
43:04
Bitcoin is a digital bear asset. The power of Bitcoin stands from
43:08
self. Custody guys, we say to every
43:10
single single day, self custody is the revolution.
43:13
You need to hold your own keys or it is not your Bitcoin.
43:17
Take control of your Bitcoin by saving that 12 to 24 words and
43:21
putting your Bitcoin in what we like to call, you know, ethical
43:24
Bitcoin wild. We're Stealing Beauty ons memes
43:27
and there's a lot of wallet options out there guys.
43:29
You may like different wallets than what we like, but I got a
43:33
name. The name is that?
43:34
I am that. I love manly.
43:35
You know, Bitcoin core Sparrow Specter for your desktop if you
43:38
just have an old laptop, download these for your Stop.
43:42
And furthermore, maybe you don't have a desk or laptop, you just
43:45
have you just want a wallet on your phone man?
43:48
Then use blue wallet Pine Phoenix Moon Breeze while it is
43:51
Satoshi. There's Moors, but these are the
43:54
ones that I'm recommending. And if you want to get a little,
43:57
a little more Advance on your setups, then download our go buy
44:02
Hardware wallet. We got cold card seed signer or
44:05
one of our sponsors bit box guys.
44:06
Like these are the tools you need to be using.
44:09
You need to take your Bitcoin in.
44:11
To cold storage. Because if you do not own the
44:13
keys, it is not your Bitcoin and they're going to make more paper
44:16
Bitcoin out there and basically wreck us and suppress the price
44:20
even more. And furthermore guys there is no
44:23
second best. There is Bitcoin and there is
44:26
shit coin as Congressman Warren Davidson said guys do not fall
44:30
for the shh coin scams. The marketing scams that oh my
44:32
you know, my shit coin is the new Bitcoin know, there's
44:36
Bitcoin, and there is shit coined.
44:38
There's a fundamental difference between Bitcoin and everything.
44:42
And Bitcoin provides you sanity and insane world as Gigi says.
44:47
So you can avoid all these rug pulled you can opt out of the
44:50
Fiat system. You can Define the
44:53
military-industrial complex system that is running by the
44:57
money printer by simply taking your Bitcoin into Cold Storage
45:01
guys and Bitcoin is the free market.
45:05
Bitcoin is the signal in all the noise as we showed you guys.
45:08
This chart forever number will go up.
45:11
On bitcoin while all these shit coins just go to zero
45:15
eventually. On a long enough, time frame
45:17
these chick coins were designed to steal your Bitcoin.
45:20
The to put flash flashy lights to distract you from what is
45:24
going on here as we like to say the peaceful revolution of
45:27
separating money from State. Guys, this is what we do.
45:31
This is why we do what we do and it's not too late for you guys.
45:35
You guys may think we're early your, you know, we're too early.
45:39
We relate to this but We have not accomplished, our goal is
45:43
becoming more and more obvious that we have not accomplished
45:45
our goal because we are still getting wrecked by people
45:49
leaving their Bitcoin exchanges. So continue to beat it in
45:53
people's heads from bear fundamentals, not your keys, not
45:57
your Bitcoin, provide the value, stay humble Stacks at take your
46:01
Bitcoin into Cold Storage into self custody using these wallets
46:04
that. I tell you guys all the time,
46:06
you know, Bitcoin core Sparrow spectacled card, seed signer
46:09
move and Breeze pie. In Phoenix.
46:11
Like these are the stuff you need to be using guys because
46:16
exchanges are not wallets, get this through your head and try
46:19
to tell people everywhere that will listen, exchanges are not
46:22
wallet holding your Bitcoin anywhere else in self custody is
46:26
more risky than anything. You could be possibly doing
46:29
because there is no back stops, there's no FDIC insurance.
46:32
If you get wrecked in Bitcoin, you get wrecked.
46:36
And, yes, I know it is overwhelming, it's there's a,
46:39
there's a mental leap. You have to take.
46:41
To finally get into the Bitcoin culture into the Bitcoin ethos,
46:45
but as I put on my personal Twitter, Bitcoin is hard, until
46:50
it is easy. And it's a fundamental mind
46:53
shift that you need to understand.
46:56
Take your Bitcoin in the self. Custody, do not Outsource your
47:01
money to a middleman. This is literally what Satoshi
47:05
Nakamoto did with the white paper?
47:07
Remember what he said in the abstract and the first
47:10
paragraph, The Fiat system works but they have abused our trust
47:14
and this is just further proof of that abuse of our trust.
47:18
And as we dropped in mean form guys, the most important thing
47:21
is to take your Bitcoin into self custody behold the one
47:25
commandment, not your he's not your coin boys and girls out
47:30
there, this could all be avoided if people just took the Bitcoin
47:33
into self custody but it's becoming more and more obvious
47:36
to us that Nico and I have further proof, our furthermore
47:41
Our of a job to do out here because people are still not
47:44
taking their Bitcoin. In the South custody.
47:46
People are still leaving their big horn on exchanges.
47:49
They're still Outsourcing their custody to other people, to
47:53
other middlemen. They're leaving their Bitcoin in
47:55
these bank, man, frauds exchanges.
47:59
And this is, literally what Satoshi tried to avoid when he
48:03
created bitcoin, take your Bitcoin in the South custody.
48:06
This is the revolution guys. If you take your Bitcoin out of
48:08
their hand, we defraud we do. Defund the frauds and they can't
48:14
take your Bitcoin and make more Bitcoin, rehypothecation your
48:17
Bitcoin. So if you're wondering why the
48:19
Bitcoin price is so low is because they have continued to
48:23
rehypothecation your Bitcoin because you have not taken your
48:26
Bitcoin off an exchange, keep your Bitcoin in cold storage and
48:30
private keys that you secure and you defund this process from
48:34
happening, but people are still not awake out there guys.
48:37
So if you think you're early, You still are because people
48:42
don't understand the basics of Bitcoin.
48:44
So you need to go hard on the basic so people can learn what
48:47
is going on and we can avoid all this stuff.
48:50
I have one simple, simple heuristic out here.
48:53
Go out in your everyday life, get off Twitter and ask people.
48:57
What do they know about Bitcoin? Are they bitcoiners are they're
48:59
taking their Bitcoin into self custody and you will know what I
49:02
know. We are still early, don't focus
49:05
on the price because we are still early in this adoption
49:08
cycle of Bitcoin. And we need to continue to push
49:12
that signal out there because we got to avoid the wreckage guys.
49:16
This is why, you know, this is why I'm such a adamant
49:20
bitcoiners because I remember getting rekt in 2017 as well.
49:23
And now we have a new cycle of toxic bitcoiners out there that
49:27
are getting wrecked and we'll learn what we know to be the
49:29
truth. Stay humble stack SATs, not your
49:32
keys, not your Bitcoin. There is no second best taking
49:36
Bitcoin into self, custody is the revolution defund, these
49:39
parasites and hold your own Bitcoin Keys.
49:43
Anyways Nico I hope I did Justice to it.
49:46
I hope we can continue to push this signal.
49:48
I hope people can learn from these people's mistakes and not
49:53
do this again. But hey, I know I know into 34
49:56
years, we're going to be saying the same exact thing and be like
49:59
look I mean in town Mu this that that's the that that's the
50:03
signal right here, right? The signal is, you know, not,
50:06
you're not your keys, not your Bitcoin and the signal also is
50:10
the FDX thing is noise, write it, you literally, if you were
50:14
not on bitcoin Twitter and you just stayed humble, you just
50:19
bought Bitcoin. Took that Bitcoin, the coaster.
50:21
You wouldn't even be aware. This happen.
50:24
Wouldn't affect you, right? So yeah, this is what we
50:28
advocate for this will be So hard for and unfortunate, it's
50:32
Vindication. But unfortunately it's it's
50:35
bittersweet because a lot of people did get rekt and we don't
50:38
want to see that you know. But hopefully through that
50:40
wreckage a lot of these people, some people learn their lessons
50:44
and they realize you know like Bitcoin right there is no second
50:48
best. There is there is no oh you know
50:51
Bitcoin etherium? No no it's just Bitcoin right?
50:54
Only Bitcoin can give you true Financial sovereignty.
50:57
Everything else is fake sovereignty.
51:00
You're still relying on a central party.
51:03
You're still relying on an individual.
51:06
It's not good. Look at history, man.
51:10
Anyways, I really enjoyed that Opti.
51:12
All right, bro. Let's get to the meat review.
51:14
Let's do it. Kaboom racks.
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51:23
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51:44
Well, boys and girls. I know you see the meme on the
51:49
YouTube show but before we get into that you already know the
51:51
mean we create here, guys, tweet are the bullets and memes are
51:55
the artillery. We are on the front lines and if
51:57
it hasn't become obvious, we need to do a better job out
52:01
there or, or maybe we need to get more toxic out there or acts
52:05
Nico. And I have been kind of playing
52:07
and riffing on. We need to figure out how to
52:10
better get this message across to people.
52:12
And this is something that I have taken upon.
52:14
On myself. All I think about lately, is,
52:16
how do I get this message across the people better?
52:20
Because we are on the front lines of this information War.
52:24
And the world still doesn't get what we get.
52:27
So I will do a better job. I hope you guys take it upon
52:31
yourself to do a better job and let's and let's get this signal
52:37
out to everyone. Let's get the calls of actions.
52:39
I think we need to go back to the basics and continue to push
52:43
the basic Bitcoin fundamentals. But of course, this is the
52:46
meaning of you got score or the mean review portion, guys.
52:48
So drop your score in the chat after we get through these mean
52:51
reviews. And we will talk about Them on
52:55
the show. Anyways, this first one Nico tag
52:57
me in this this morning Nico. Nico covered this in the news
53:01
you know Mike was projecting on to El Salvador.
53:03
What he himself was guilty of billionaires, Mike novogratz
53:06
discloses 77 million dollar exposure to crypto exchange ft
53:10
x. And if you know anything about
53:12
novogratz, you're probably well, aware of his atrocious.
53:16
Luna tattoo. Well, I don't know if you knew
53:18
about his atrocious, FTX to do, you think?
53:24
Do you think he took off that Luna?
53:26
I waited he just has a let he could have just put up half a
53:30
piece of shit on his arm and he would have accomplished the same
53:33
thing. Yeah he's got that the shit shit
53:37
shit emoji on his arm. Now it shouts out the hot or
53:39
not. He's the second meme on him and
53:42
it's a very simple meal. Again, guys, I'm harping very
53:45
hard on the idea of self custody today because this is the
53:48
message that people need to hear.
53:50
So hot or not how people think they're Bitcoin are doing in
53:53
custody and Can see this guy, he's all happy.
53:57
It seems like he's you know, and fairytale utopian Unicorn Land
54:05
and how they're big coin actually is doing in that
54:07
custody. It's on fire.
54:09
It is not your Bitcoin. If it's in an exchange self
54:11
custody or Bighorn guys, we harp on this all the time and will
54:15
continue to beat this down people's head.
54:18
This next one is rdb TC chefs. Out to you, brownie goes
54:21
withdraw, your Bitcoin from exchange is not your keys.
54:23
Not your coin. And it's back to the same idea.
54:26
We got the Chad Bitcoin or with laser eyes and he goes, they
54:29
don't know. They don't actually own their
54:31
Bitcoin Cold Storage, it's too difficult.
54:34
It could never happen to my exchange.
54:36
Wake up, guys. Don't leave your Bitcoin on
54:39
exchanges because you will get wrecked.
54:42
This is why we tell you guys take Bitcoin into Cold Storage.
54:45
This next one shop, said the BT Liotta, I forget what there's
54:49
original meme template comes from, but the guy who is just
54:53
like LARP I'm cutting the cake and we got a Celsius block fi
54:57
Luna three arrows capital F TX there are cutting the cake.
55:01
We're All in This Together. We have the Bitcoin muhahahaha
55:05
no knife with laser eyes. No we are not at all in this
55:10
together. This is a good classic me
55:13
template. This one will probably live on
55:15
forever guys. All these exchanges, all these
55:18
funds that are trying to lend you and borrow your Bitcoin.
55:22
They are rehypothecation your Bitcoin and they are I'm gonna
55:24
get you wrecked if you don't stay humble and stack sets.
55:27
Guys, this is why you know, as bitcoiners are just sitting here
55:31
laughing about this all yes we are feeling the pain as well
55:34
because shit Corners make us all look bad but at least you have
55:38
your Bitcoin in Cold Storage at least you didn't lose it all and
55:42
lose your T-shirt with it and lose your life savings like
55:45
Nikolas. Telling us guys.
55:47
Stay humble Stacks ads. It is, such a simple idea that
55:50
it's so complicated for people because it it's just like It
55:55
sounds too good to be true. Just take your Bitcoin into cold
55:58
storage and do provide value and live your life.
56:01
This next one Gigi again, he goes, I love this fucking shit
56:05
so much and this is right when we heard the hole explosion at
56:08
of ft x. And we got boot 39, and he's
56:11
using the Joker meet him. And we got a Robert De Niro
56:14
goes. Let me get this straight.
56:16
You think FTX is implosion crashing?
56:18
All of crypto is funny and we got the joker as a Bitcoin Maxi
56:21
with laser eyes. He goes I do and I'm buying
56:24
their cheap SATs. This is a signal guys.
56:27
If you have your Bitcoin in Cold Storage Bitcoin is on sale you
56:31
are unaffected and the price will go up eventually.
56:34
Yes. Yes.
56:35
The industry as a whole is getting rekt because she Corners
56:38
make us all look bad. And this is why we can't have
56:42
nice things. Guys, just take your Bitcoin in
56:44
Cold Storage eliminate the rehypothecation.
56:48
Absolutely amazing. Okay.
56:52
Okay. One last one.
56:53
Hold on. Maxi's Club.
56:59
He goes, you are without a doubt, the most toxic hateful
57:03
people I've ever heard of and finance Bros when they find
57:07
Bitcoin but you have heard of us with laser eyes.
57:12
Yes bitcoiners are toxic. Yes.
57:14
Bitcoiners are Savage. But we try to tell you guys all
57:17
the time. Take your Bitcoin into Cold
57:19
Storage. This is a simple simple thing.
57:24
Anyways. Are you there?
57:27
Nico yes a back. Did I lose?
57:29
Did you leave me? I'm here dude.
57:31
I'm here. I'm talking about no just a good
57:35
man. That's for after the show man.
57:37
Ask for after the show. No, don't send messages to opt
57:41
in the chat. Yes.
57:42
Okay. Anyways guys, this is simply
57:44
Bitcoin. Wait, go ahead.
57:45
Go ahead up to give it a score. I was just gonna say, oh, my
57:47
score guide. You already know drop your job.
57:50
Your name review score in the chat.
57:52
Let me see what do I have over here to give you guys a score.
57:56
Oh, oh, I know it is go to full screen on this one.
58:00
Nico. All right.
58:03
Shoutout to extend Mouse because he gave me this mug simply
58:09
Bitcoin st. Op tea mug and then we go.
58:16
Are you kidding me? Absolutely amazing.
58:20
Thank you so much. That was hilarious.
58:23
I'm going to give it up this bag of Tropical chips tropical
58:29
plantain chips if you know you know.
58:31
Anyways guys this isn't bleep Bitcoin live.
58:33
Drop your score in the live chat and opting I will read them.
58:39
Anyways, first one by on this Andres Romero says, I give memes
58:44
the last girl to give you the look at the club during last
58:48
call. I don't want to flood ice.
58:53
Core you a massive shovel to pick up all this Shit coins
58:57
during this casino. Okay, very nice, very nice.
59:00
Next one. Bye, you deserve real money.
59:01
I love that name irate those memes.
59:03
One ticket to pyrole and my cold storage, okay?
59:07
Next one Global nonsense, gives them a fuzzy-headed weft
59:12
members, spam fat, man, frock. Next one hot aucoin I give those
59:19
means Gary Gensler, huge forehead, protect investors.
59:22
How does how does approving a BT cetf?
59:25
But letting investors Fried work go over his head.
59:28
I don't know, man. That mean by Elon, bro.
59:30
That mean by Elon all the connections.
59:32
Like, I don't know. There's some questions there.
59:35
That's what I got to say. Cynthia I go, Gonzalez says, I
59:38
give those memes off e op. These caffeinate caffeine
59:40
levels. Hilarious, Bitcoin is sent.
59:44
I give those memes, FBS personal private Keys.
59:47
Okay, I like that. Next one.
59:50
Bye. Frank aren't says, I give those
59:51
memes 60 billion worth of ftt tokens.
59:55
Bushmaster says I give Give a score of jail, time to SBF and
59:59
all involved brains for rest of their sad life.
1:00:03
Okay, interesting. Next one, by I score those
1:00:07
memes. My order for simply Bitcoin
1:00:09
merge forgetting to use the coupon code.
1:00:11
Oh, I'm sorry, bro. But yes, we got new merch.
1:00:16
We'll get, we'll get to it in a second.
1:00:17
We got a surprise for you guys. Opt.
1:00:19
He's favorite bear Market, Food, banana.
1:00:21
Peel said with mustard, says my royalties for st.
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Op T's trademark. All right, ladies and gentlemen.
1:00:26
We are out of time, tune in tomorrow and we will get to your
1:00:30
Bitcoin memes. Anyways, guys, don't forget to
1:00:33
join simply Bitcoins telegram group.
1:00:35
You got to go to www.ah.mil /, the simply Bitcoin Channel
1:00:39
that's where you can link us Bitcoin memes to review it.
1:00:41
Also, check out the written version of this show, we just
1:00:43
dropped latest article Opti, was it called It is called, don't be
1:00:49
scared. You're gonna die.
1:00:51
Okay. Well, live up to your live of
1:00:54
your potential boys, live up to your potential.
1:00:56
Oh man, fear, that's an intense name.
1:00:59
It is weird but it's a lot more optimistic than you guys.
1:01:03
Might think it really it really hits signal.
1:01:07
I absolutely love what we're doing over there.
1:01:13
Yellows in my place again. Go to
1:01:15
www.simpleandsensational.com, scribe to our sub, stack Opti,
1:01:20
just dropped the sauce. Anyways guys, we have a software
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release today. Let's check it out.
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guys. Go electors version.
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Zero point nine point, one. Updated dependencies and buck
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fit bug fixes. Updated dependencies fix mempool
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rate. Formatting allow configuring
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Signet peer-to-peer magic don't panic in case of an invalid
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block, header height and of electors is the electrum,
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personal notes, electrum server implementation.
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So check it out. You want to, if you need to do
1:02:21
an update, there you go. Anyways guys, also want To give
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a shout out to our awesome clothing sponsor representing
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finally dropped the simply Bitcoin merch.
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Its first come first serve, go to represent LTD.com and you
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could also check our Twitter. We've been retweeting, and we've
1:03:00
been tweeting the merch drop. So guys, definitely don't want
1:03:03
to miss it. It's really comfy, really
1:03:07
stylish it anyways. Guys, that was our show.
1:03:10
If you enjoyed the show, you know what to do?
1:03:11
Smash that like button, subscribe, we're going to change
1:03:14
it up a little bit. We're gonna be introducing,
1:03:16
thanks to shout out to Diaw. Janice, we're going to be
1:03:19
introducing new transitions. We're working on some things in
1:03:22
the background. So it's gonna be a little bit of
1:03:24
changes here, but change is good.
1:03:26
That's how you see you grow. Right anyways Opti, let's roll
1:03:31
it out, bro. Guys, if you're still listening
1:03:34
to this, if you want to continue the show, we keep it going.
1:03:38
To 2 p.m. Eastern Standard time, we are
1:03:41
live on Twitter spaces, have a chance to interact with Opti or
1:03:45
myself, you can interact with us live and we are we are
1:03:49
co-hosting that space with our friends over at Swan Bitcoin
1:03:53
best place to stack SATs. Anyways guys, we love you and we
1:03:58
will see you tomorrow. Opti started up, bro.
1:04:17
What's up, everyone? It's good to be here.
1:04:20
So you can see we're doing some different stuff on the
1:04:23
transitions. We gotta, we gotta figure out a
1:04:27
few things here and there, but