Latest / Simply Bitcoin / Jerome Powells MASSIVE Bitcoin Backflip! | EP 1172

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Jerome Powells MASSIVE Bitcoin Backflip! | EP 1172 · Simply Bitcoin

• 0:00
  Yo, did Jerome Powell just make a massive Bitcoin backflip?
• 0:05
  Well, Jay Powell isn't the only G7 central banker who was
• 0:09
  waiting on Bitcoin in the past 24 hours.
• 0:12
  But before we explore the global central banker race to Bitcoin
• 0:16
  and show you just how Jerome Powell's tone has taken a
• 0:19
  massive shift since Trump was elected, let's play you this
• 0:23
  brand new clip of Jerome Powell yesterday at the FOMC meeting.
• 0:28
  And let's just hear how the tone has changed around Bitcoin.
• 0:33
  You know, banks are perfectly able to serve crypto customers
• 0:37
  as long as they understand and can manage the risks.
• 0:39
  And it's safe, safe and sound as many of our a good number of our
• 0:42
  banks, right that we regulate and supervise.
• 0:45
  Do that, you know, the threshold has been a little higher for
• 0:49
  banks engaging in crypto activities.
• 0:52
  And that's because they're so new.
• 0:53
  And, you know, we don't want to make the mistake you're if you
• 0:56
  if you're making a choice to conduct that activity inside a
• 0:59
  bank, which is inside the federal safety net with Deposit
• 1:03
  Insurance, then you want to be pretty sure that that that it's
• 1:07
  a safe and sound activity. So, you know, we're not against
• 1:10
  innovation and we certainly don't want to to take actions
• 1:15
  that would cause banks to, you know, to terminate customers who
• 1:19
  are perfectly legal just because of excess risk aversion may be
• 1:24
  related to regulation. And wow, guys, very interesting
• 1:32
  to see Jerome Powell kind of flip flop.
• 1:35
  He's backtracking. I don't know if you guys
• 1:36
  remember last month we were playing Jerome Powell
• 1:39
  essentially saying like, hey, we don't want to talk about
• 1:41
  Bitcoin. It's illegal for the Fed to even
• 1:43
  own Bitcoin. Now he's saying, hey, you know,
• 1:45
  banks under our jurisdiction can custody Bitcoin if they want to.
• 1:49
  And also the, I think the main signal here is this idea of we
• 1:52
  don't want to stop innovation. Is it just because, you know,
• 1:57
  the Fed and Jerome Powell is starting to see the light or is
• 2:01
  there bigger things playing out? And I have a post here, guys,
• 2:05
  from, sorry, Donald Trump's true social.
• 2:08
  I'm not going to read the whole thing.
• 2:09
  But you can see that he's feeling a lot of pressure from
• 2:12
  President Donald Trump. Obviously, since Trump's been
• 2:15
  elected, he's doing a lot of executive orders.
• 2:18
  We saw the repeal of SAB 121, which makes it easier for banks
• 2:21
  to custody Bitcoin. And it seems like, you know,
• 2:25
  Trump is, is running a hard line here in regards to the adoption
• 2:29
  of quote UN quote crypto. And now we see the central
• 2:32
  bankers out there starting to bend the knee.
• 2:35
  And another interesting development.
• 2:36
  Remember what we talked about yesterday, which is the governor
• 2:40
  for the Czech National Bank announcing that they're going to
• 2:43
  look into having a 5% of their reserves going into Bitcoin.
• 2:47
  Well, in response to that, we got Chrissy Lagarde from the ECB
• 2:51
  yesterday or this morning rather talking about that.
• 2:54
  Hey, maybe we talked to the head of the national, Czech National
• 2:58
  Bank and we're confident they're not going to add it literally
• 3:01
  sounds like a veiled threat. So let's play that real quick
• 3:03
  before we get into some more central bank news.
• 3:08
  On this matter that you referred to and whether reserves of
• 3:12
  Central bank should or could include bitcoins, I think
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  there's a view around the table of the governing council and
• 3:21
  most likely the General Council as well, that reserves have to
• 3:25
  be liquid, that reserves have to be secure, that they have to be
• 3:30
  safe, that they should not be plagued by the suspicion of
• 3:34
  money laundering or other criminal activities.
• 3:38
  And as a result, I'm confident that reserves will not enter,
• 3:46
  sorry that bitcoins will not enter the reserves of any of the
• 3:49
  central banks of the general counsel.
• 3:53
  I had a good conversation with my colleague from the Czech
• 3:55
  Republic and I leave it to him to make whatever announcement he
• 3:58
  wants to make. But I'm confident that he's
• 4:01
  convinced, as we all are, of the necessity to have liquid, secure
• 4:05
  and safe. Yeah, not going to lie, it
• 4:11
  sounds like some mafia taxes. You know, we had a little
• 4:14
  conversation and I'm confident they're not going to add Bitcoin
• 4:17
  to their reserves. Just absolutely crazy though.
• 4:20
  Before I move on to the recent developments around the Czech
• 4:23
  National Bank, it is sounding very similar from Christine
• 4:27
  Lagarde and Jerome Powell that they, you know, they want a
• 4:30
  Safeway for, you know, customers to put custody and reserves and
• 4:36
  something that isn't going to be volatile and blow up like
• 4:39
  Bitcoin or quote UN quote BLOB and be like Bitcoin.
• 4:42
  So again this morning we got we got some more news coming from
• 4:45
  yesterday's story, which is apparently the Czech National
• 4:48
  Bank. They passed this proposal
• 4:50
  yesterday. They were talking about whether,
• 4:52
  you know, they're going to look into adding 5% of their reserves
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  in the Bitcoin. Well, it looks like they are
• 4:57
  active actually moving forward on this.
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  They are assessing options for a quote, broadening investment to
• 5:02
  include other asset classes and and this governor, you know,
• 5:06
  he's getting some Flack here. We have a Bloomberg article of
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  Czech finance minister warns against adding Bitcoin to
• 5:11
  reserve because it's quote, not a stable asset.
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  Absolutely incredible. And then just to round this up,
• 5:17
  guys, these aren't the only it's not just the ECB, it's not just
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  Czech Republic, it's not just the US Fed.
• 5:24
  We just learned this morning shouts out again to Bitcoin
• 5:27
  magazine that Norway's central bank's fund reveals owning $500
• 5:31
  million of MicroStrategy shares. So don't watch what they say,
• 5:36
  watch what they do. And it looks like they central
• 5:39
  bank FOMO around Bitcoin is starting to take place.
• 5:42
  Now of course, here at Simply Bitcoin we have the idea of
• 5:45
  separating money from state, but it is very interesting to see
• 5:49
  how fast the conversation around Bitcoin is happening.
• 5:53
  It does seem ever since Trump got elected, ever since Trump
• 5:56
  has been proposing and pushing for a strategic Bitcoin reserve,
• 6:00
  that now the central bankers around the world have to bend
• 6:03
  the knee. It does sound like some micro
• 6:05
  capitulation from Jay Powell couple months ago Jay Powell was
• 6:08
  out here saying like, Oh no, we're not going to touch
• 6:10
  Bitcoin. We don't want any of our clients
• 6:12
  to touch Bitcoin. Now he's like, hey, actually,
• 6:15
  you know we just want it to be done in a Safeway.
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  We got to make sure that the banks at custody Bitcoin are
• 6:20
  holding something that isn't going to wreck themselves.
• 6:23
  You know, I'm not against innovation, but he's also not
• 6:25
  saying he is for innovation yet. And again, this has to be
• 6:29
  pressure coming from the Trump administration.
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  Obviously the writing's on the wall now that, hey, if if you
• 6:35
  don't adopt Bitcoin first, then you're going to be last.
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  And we've seen what happened with El Salvador.
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  Buchelli is killing it out there.
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  His country is adding Bitcoin to the reserves.
• 6:45
  Now we're seeing, we've gotten to this point where central
• 6:47
  banks are even talking about adding Bitcoin to the reserves.
• 6:50
  Now, as a Bitcoiner, I fundamentally believe in the
• 6:53
  idea that Bitcoin will defund these central banks.
• 6:56
  But in the meantime, they have to do something to survive.
• 6:59
  And if they're having these conversations, and I have a clip
• 7:02
  for you from Jeff Booth and the numbers about why they're having
• 7:04
  these conversations, you have to wonder what is going on on the
• 7:09
  back end? How much trouble do the central
• 7:11
  banks realize that they're in if they are talking about Bitcoin?
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  Now, we all know number go up in Bitcoin is great.
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  This is why they're looking for profits.
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  This is why they're looking to add Bitcoin to the reserves.
• 7:22
  But it does enter us into a new paradigm like could you have
• 7:26
  guessed? I will actually pass this to
• 7:28
  Adam. Could you have guessed when you
• 7:30
  got into Bitcoin that we would see the biggest central banks in
• 7:33
  the world starting to embrace Bitcoin, at least tentatively?
• 7:37
  At least they're no longer like it's just for criminals, though
• 7:39
  They still are saying, hey, you know, we we don't want our
• 7:43
  central bank partners to add an asset into their balance sheet
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  that is, you know, fundamentally pushing criminals and money
• 7:49
  laundering and stuff. But it seems like they're being
• 7:52
  forced to actually look at Bitcoin honestly.
• 7:56
  So very interesting developments.
• 7:57
  Obviously we want individuals holding Bitcoin.
• 8:00
  I, I want to defund the central banks.
• 8:02
  I, I don't want them to add Bitcoin to their balance sheet.
• 8:05
  But this is where we are right now.
• 8:07
  They're talking about adding Bitcoin to the balance sheet.
• 8:09
  It's absolutely crazy. And this is all, you know, love
• 8:11
  them and hate them, but this is all because Trump came out
• 8:14
  really strong for a pro Bitcoin administration.
• 8:17
  So crazy things happening right now.
• 8:19
  We'll see what actually follows through.
• 8:21
  We'll see who is the first one to actually adopt Bitcoin.
• 8:24
  There's still a lot of conversations around that.
• 8:26
  But what a what a crazy time. So Adam, you've been in the game
• 8:29
  a little longer than I have. What's your thoughts hearing
• 8:32
  central bankers talking about Bitcoin in a seemingly positive
• 8:36
  light? Dude, I mean, in hindsight it
• 8:39
  probably seemed inevitable. Bitcoin is perfect money all the
• 8:43
  way around. And obviously the banks have to
• 8:45
  or the central banks have to pretend to like perfect money so
• 8:48
  they don't let their scam be exposed.
• 8:50
  But I think it's hilarious to watch what these different
• 8:53
  massive G7 central banks are. How they respond to Bitcoin goes
• 8:59
  to show just how how much volatility there is in the world
• 9:04
  in their responses to it. We have the American Central
• 9:07
  Bank saying one thing, we have the European Central Bank saying
• 9:11
  almost the opposite thing. I would also love to see the
• 9:13
  chart of Bitcoin used for money laundering compared to the Euro
• 9:17
  use for money laundering. I if I had to exactly probably
• 9:20
  say for every $1.00 laundered in Bitcoin, there's probably like
• 9:23
  10 to $15 laundered with the euro all around.
• 9:28
  The Euro is just infinitely worse than Bitcoin and it's
• 9:31
  laughable that these people have the audacity to lie to us to our
• 9:34
  face. They either think we're dumb or
• 9:36
  they themselves are dumb. And I think that it's just, it's
• 9:39
  just getting reiterated over and over and over again how
• 9:42
  irresponsible and selfish these buffoons in charge are.
• 9:45
  And I think why Bitcoin is succeeding is because no ones in
• 9:48
  charge. And I think it's great.
• 9:50
  I think that you're right, ultimately the central banks
• 9:54
  disappear. Bitcoin doesn't need a central
• 9:56
  bank. Bitcoin is the central bank.
• 9:59
  It is a protocol, not a platform.
• 10:01
  It cannot be bought. It cannot be manipulated.
• 10:04
  It is the absolute source of truth for our money, for the
• 10:07
  value that we create with our time.
• 10:10
  And that's a good thing. I think that watching these
• 10:13
  quasi fake, you know, wannabe real banks, central banks come
• 10:18
  in and try to disprove it just goes to show how scared they
• 10:20
  are. I can't get Seifa Dean's voice
• 10:22
  out of my head, which is that the adoption of Bitcoin is not
• 10:26
  some cute little S curve like the Internet.
• 10:28
  It is a straight vertical line up like gunpowder.
• 10:32
  If you did not adopt gunpowder during the wars, you died.
• 10:37
  We don't know about you because the history books forgot about
• 10:41
  you because you didn't adopt the new obviously better technology.
• 10:44
  If you were fighting with sticks and knives during, you know, and
• 10:49
  your and your opponents are launching bullets at you with
• 10:51
  fire and gunpowder powder, you just lost.
• 10:55
  And right now we have the next innovation.
• 10:57
  We have the gunpowder, we have the bullets and they're still
• 11:01
  using like dull wooden sticks. And so I think it's inevitable.
• 11:06
  Bitcoin puts everyone in competition with each other.
• 11:10
  And again, this is positive. This is the net pro for
• 11:13
  humanity. This is a net pro for society as
• 11:16
  a whole. But I wouldn't want to be caught
• 11:19
  on the wrong side of it. And it looks like they are kind
• 11:23
  of realizing that they are on the wrong side of it.
• 11:25
  You know, it's interesting. And and then I'm going to pass
• 11:27
  it to Sophie. Sorry, sorry, Soph, but it's
• 11:29
  very interesting to see so many people just doubled down on, you
• 11:34
  know, their ignorance around Bitcoin.
• 11:37
  And it's, it reminds me of what's the Sinclair quote?
• 11:40
  You know, it's hard to convince someone of something when it's
• 11:43
  their job to do the opposite. I'm, I'm butchering the quote
• 11:46
  here, but this is where we are right now.
• 11:48
  You know, the, the confirmation bias, the the Stockholm syndrome
• 11:52
  that we're seeing play out in real time is absolutely insane
• 11:56
  to watch. A lot of us Bitcoin has learned
• 11:57
  about the traditional financial system after we learned about
• 12:00
  Bitcoin. And it's just so clear.
• 12:03
  Once you understand Bitcoin, you look at all the stuff coming out
• 12:05
  from central banks and traditional finance and you're
• 12:07
  like, this stuff is ass backwards.
• 12:09
  Like who in their right mind can like do the mental gymnastics to
• 12:15
  make this seem like it's a positive thing?
• 12:17
  Obviously there's a lot of spin out there, but look, if they're
• 12:20
  publicly saying this stuff, you can only imagine what they're
• 12:23
  saying privately. And hey, if they're publicly
• 12:26
  kind of tentatively embracing Bitcoin, I'm sure privately they
• 12:29
  are freaking out and they're like, yo, Bitcoin is eating our
• 12:33
  lunch. That I forget what the numbers
• 12:35
  are now, but there's like what, 600 million people that are, you
• 12:38
  know, on the Bitcoin or crypto networks And it seems like it's
• 12:42
  starting to take over the world. And if Bitcoin does an
• 12:44
  incredible price run this this year, it's going to be very
• 12:47
  interesting to see how quickly these central banks capitulate.
• 12:51
  Dude, could you imagine? I think I saw a tweet this
• 12:53
  morning. I don't know who said it, but
• 12:55
  imagine being the last governor to a topped Bitcoin or to buy
• 12:58
  Bitcoin. Like you're just going to look
• 13:01
  so stupid. It's just going to be dumb.
• 13:06
  Insane, Insane. OK, self, we figured out Sofs
• 13:11
  video and audio today. So Sophie, what's your thoughts
• 13:15
  on seeing the central bankers come out kind of embracing
• 13:18
  Bitcoin, but also kind of fighting around Bitcoin?
• 13:20
  You can see that what we always talk about here, the global hash
• 13:23
  war, the global race to adopt Bitcoin, like it's happening on
• 13:26
  a central bank level level and they're like fighting each
• 13:28
  other. You can see their rhetoric is
• 13:30
  going past each other. So what's your thoughts hearing
• 13:33
  not only just Fed Jerome Powell talking positively about
• 13:37
  Bitcoin, but also, you know, ECB Chrissy Lagarde, My
• 13:40
  ex-girlfriend Chrissy Lagarde? Yeah, let's talk about that.
• 13:44
  Let's talk about that. Opti be honest, you for sure got
• 13:49
  a late night text from your ex-girlfriend Chrissy Lagarde.
• 13:52
  You know, number go up, girlfriends go up.
• 13:55
  It's it's directly correlated. But my take on this is that part
• 13:59
  of their value, part of the value of these institutions and
• 14:03
  central banks is perception. And since they've lost control
• 14:07
  of the media, they've forced themselves to align with the
• 14:11
  truth. And when you align with the
• 14:13
  truth and you see the cards on the table and you realize that
• 14:17
  you can no longer manipulate the masses.
• 14:19
  You can no longer just tell them, hey, buy our central bank
• 14:22
  digital currency. It'll be good for you.
• 14:24
  It's going to make your life easier.
• 14:26
  You will own nothing and be happy when you realize that
• 14:29
  people are just not going to buy that because they're no longer
• 14:33
  listening to legacy media because you are the media now,
• 14:36
  Then you, they, they, they have to, they have to actually come
• 14:42
  to terms with the fact that they have to adapt or die and
• 14:46
  adapting it or yeah, adapting is adopting Bitcoin.
• 14:51
  Yeah, 100%. But as we can see, the dinosaurs
• 14:54
  are going to try to hold on for as long as possible.
• 14:57
  And if there is a quintessential dinosaur out there, it's
• 14:59
  obviously the central bank and it's anyone can tell from the
• 15:03
  stuff we see coming out of the EU, they are, you know, so hell
• 15:08
  bent on control that it's, it's becoming so obvious to obviously
• 15:13
  Bitcoiners, but they all they care about is control.
• 15:16
  So it's very interesting to as a bitcoiners see this.
• 15:19
  But I really wonder what the normies are thinking about, you
• 15:22
  know, these ECB talks and the banning Bitcoin in EU.
• 15:26
  And also we didn't cover it this week, but France proposing, I
• 15:30
  think it was 25% unrealized capital gains on Bitcoin.
• 15:33
  It's like good luck. Yeah, they're they're shooting
• 15:35
  themselves in the foot. It's absolutely insane that the
• 15:38
  type of rhetoric we're seeing come out from these people.
• 15:40
  It's just it's nuts. You know, but on that same
• 15:43
  token, I think that the normies from the perspective of these
• 15:47
  people who are in power and in these central banks, I think
• 15:51
  they see us plebs as the normies.
• 15:54
  And I think that enough of us have adopted Bitcoin and kind of
• 15:58
  like opted out of their system for us to have power over them
• 16:03
  and for them to have to actually align with us.
• 16:06
  And that's what we're seeing. We're seeing the outer layers of
• 16:10
  the onion, starting with government and going into these
• 16:13
  institutions. Next up is retail, and next
• 16:16
  it'll be the individual. And they're all kind of like
• 16:20
  coming to terms with the fact that Bitcoin is hard money.
• 16:24
  It is going to win at the end of the day and it's the scarcest
• 16:28
  asset in the world. So the chap's still freaking
• 16:33
  out. Sophie.
• 16:33
  Guys, this is Internet selfie. AKA Misses Nico.
• 16:37
  This is his wife. She's a great bitcoiner.
• 16:40
  She's also way more radical than Nico.
• 16:42
  She's going to fill in every once in a while.
• 16:44
  Nico's enough to. Be toned down.
• 16:45
  Yeah, we got to tone her down a little bit.
• 16:47
  So, you know, guys, you know, keep the simping to a minimum
• 16:51
  here she is taken. All right, so anyways, let's get
• 16:55
  into the rest of the show. We got a bunch of stuff for you.
• 16:57
  Like I said, in the numbers. We have Jeff Booth basically
• 16:59
  explaining why we're seeing Central Bank start to embrace
• 17:02
  Bitcoin, why the biggest institutions in the world are
• 17:04
  embracing Bitcoin and the news. We got interesting, interesting
• 17:08
  stories coming out of Tesla and you know, a lot of must news
• 17:12
  today and Twitter and then Adam's going to show us some
• 17:15
  cool stuff that Bitcoin well has been working on.
• 17:18
  Maybe get some sneak peeks here. I know Adam wants to do some
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  wishing well stuff. So you guys are get your
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  Do one more we'll. Do one more, we'll do one more.
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  Bitcoin going up too much. We got to.
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  We got to get more. Stock wait.
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  go. OK, 2100 sads.
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  Good call, Adam. All right guys, let's get into
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  5160. I think we got all the way up to
• 21:04
  106 this morning. So hey, I I think once we break
• 21:06
  out of this, you know one O 8 range game is on let's go
• 21:10
  anyways the SAT per dollar AKA how much Bitcoin you can buy for
• 21:13
  a single dollar AKA how much a dollar is worth in Bitcoin is
• 21:16
  currently at 951 SAT's per dollar.
• 21:19
  The current block height is 881,522.
• 21:23
  The market cap in Fiat terms is $2.08 trillion and the Bitcoin
• 21:28
  versus gold market cap is currently at 10.82%.
• 21:33
  Man we got a 90% still to run until we take out gold.
• 21:37
  So numbers going up anyway, the total percentage of Bitcoin that
• 21:40
  will ever be issued is currently at 94.36% with roughly 19.8
• 21:45
  million coins circulating. And the realized monetary
• 21:48
  inflation, literally taking all Fiat currencies to school is
• 21:52
  currently at 1.04%. The hardest money period.
• 21:55
  Nothing comes close to it. This is why you can't save in
• 21:59
  Fiat currencies. Now doubling down kind of
• 22:01
  connecting this, there was a lot of stuff I could have put in the
• 22:04
  numbers I was thinking about it this morning.
• 22:06
  But really to kind of explain why why central banks and why
• 22:10
  institutional managers and why nation state leaders are looking
• 22:14
  to Bitcoin is one simple, simple idea that Jeff Booth is going to
• 22:19
  explain in this and chat that the TFTC because it sums it up
• 22:22
  like this. The global economy is insolvent
• 22:25
  and Bitcoin is the only escape. So let's play this real clip
• 22:29
  real quick and then we will chat about it the.
• 22:32
  Global balance sheets in our assets, the asset value, I'm
• 22:34
  just, I'm not going to go through with them all between,
• 22:37
  between your, your brand, your, your, your financial assets,
• 22:41
  your, your tangible assets. Looks like that.
• 22:45
  Everything you measure is in there.
• 22:48
  This conference hall, your house, every business is in is,
• 22:52
  is, is in that #900 trillion is backed by that 323 trillion of
• 22:59
  debts today. By the way, the 65200 trillion
• 23:04
  of liabilities against derivatives, 65 trillion of two
• 23:09
  years ago, the Bank of International Settlements found
• 23:13
  65 trillion that was missing in off balance sheets transactions.
• 23:17
  So let's just clear the room here.
• 23:20
  That is already insolvent. If you tried to pay back 400
• 23:22
  trillion, it would take you $1.00 a second.
• 23:25
  It would take you 12,873,000 years to pay that back.
• 23:28
  It is already insolvent. But what does that mean if
• 23:31
  you're measuring your assets on top of that?
• 23:34
  What does it mean? That means all of your assets
• 23:36
  are also insolvent. Because if that weren't
• 23:38
  insolvent, the whole thing would fail.
• 23:40
  The global system would crumble to the ground completely.
• 23:43
  And So what do you do inside that system?
• 23:46
  What do you likely do inside that system?
• 23:47
  You likely complain about it and give it more energy.
• 23:51
  You probably talk about all the politicians stealing your money
• 23:54
  and then you buy a house and then you're because you have to
• 23:57
  make more money in this. And then you're complaining
• 23:58
  about all those people inside that system.
• 24:00
  But you would not vote to let it collapse, nor would I.
• 24:04
  We wouldn't do that. So it becomes hypocritical when
• 24:08
  we're fighting inside that system because we're all a part
• 24:10
  of it, right? I'm fond of saying there is no
• 24:13
  they, it's only we. And we make that system stronger
• 24:16
  from our actions within it. The problem is that system is
• 24:19
  insolvent. And So what would your asset of
• 24:22
  your host be if that system actually was allowed to fail?
• 24:25
  So you won't let it. So now we have 2 kind of big
• 24:30
  problems, big or big opportunities problems.
• 24:34
  These two systems are incompatible, they're opposites,
• 24:38
  right? So one system, free market that
• 24:40
  we talked about that we know is true.
• 24:42
  And the other system that we live in and measure from every
• 24:45
  asset in there is contingent upon more money printing
• 24:49
  contingent. In other words, there's
• 24:50
  counterparty risk of everything in our life on that, and there's
• 24:54
  no counterparty risk. Bitcoin it is the only thing on
• 24:57
  the planet because it's an open, decentralized, secure protocol
• 25:01
  bounded by energy without counterparty risk.
• 25:06
  Amazing guys, This is why we need Bitcoin.
• 25:09
  This is why everyone is moving towards talking about Bitcoin.
• 25:14
  This is why anyone in the know realizes that there's a problem.
• 25:17
  And again, let me just reiterate the quote.
• 25:20
  You know, this is Sinclair. It is difficult to get a man to
• 25:23
  understand something when his salary depends on his not
• 25:25
  understanding it. Now, Jeff Booth, you know,
• 25:28
  obviously very eloquent, very deep dive on all this stuff.
• 25:32
  But that is the simple fundamental breakdown that we're
• 25:35
  seeing right now, that everyone that is a part of the
• 25:37
  traditional financial system is incentivized to keep the system
• 25:39
  going or else they become broke. The system is insolvent.
• 25:44
  It's been insolvent for years. And now the problem is just
• 25:47
  rearing its head. And also because of social media
• 25:49
  and the fact that we can all talk about this and people can,
• 25:52
  you know, communicate peer-to-peer, more people are
• 25:55
  waking up to the fact that all of this whole system, the whole
• 25:58
  entire world is insolvent right now.
• 26:01
  It's all based on paper debt. And we're getting to a point
• 26:04
  where, you know, it's make or break.
• 26:06
  We're getting to what who knows how long they can kick the can
• 26:08
  down the road. I'm sure they got some more
• 26:10
  tricks up their sleeve. I'm sure, you know, the masses
• 26:13
  might be able to get gas lit into believing the system is
• 26:16
  still actually functional. But the basis of it is the
• 26:20
  entire world is insolvent right now.
• 26:22
  No one wants to stop the music because that means that all of
• 26:25
  their assets go to zero. It means all the wealthy people
• 26:28
  become poor. No one wants to lose their
• 26:30
  standard of living. And I, I personally, I don't
• 26:34
  want to see that happen because that means the world's going to
• 26:36
  go to shit. I want to see a slow, gradual
• 26:39
  adoption of Bitcoin. Obviously, we want to see number
• 26:42
  go up in Bitcoin. We want to see freedom go up in
• 26:44
  Bitcoin. But if the music does finally
• 26:46
  stop on the traditional financial system, it's going to
• 26:50
  wreak havoc on the world. And this is where we are right
• 26:53
  now that like, look, maybe the central bankers out there aren't
• 26:57
  necessarily the bad guys here. Maybe they actually are trying
• 27:00
  to protect consumers. They are trying to keep the
• 27:02
  system going. Maybe they haven't looked into
• 27:04
  an alternative system like Bitcoin.
• 27:05
  But there is an alternative now. And of course, that is Bitcoin.
• 27:09
  And we're seeing that people are waking up.
• 27:12
  It's essentially, you know, you want to be the first one to exit
• 27:16
  the door when when your house is on fire.
• 27:18
  You don't want to be the last one.
• 27:19
  And Adam was kind of joking about it.
• 27:21
  It's like, I don't want to be the last central bank governor
• 27:23
  president to adopt Bitcoin because you're going to lose.
• 27:27
  But this is where we are. The world is insolvent, but no
• 27:30
  one wants to actually kind of talk about it because then the
• 27:34
  House of Cards might collapse. So slowly but surely we're just
• 27:37
  going to get more people to adopt Bitcoin.
• 27:39
  But we have to constantly come out here and explain to people
• 27:41
  the actual problem going on. This is why Bitcoiners always
• 27:44
  say fix the money, fix the world.
• 27:46
  It's a very simple meme. But that is the fundamental
• 27:49
  problem in the world right now is that the money is broken, the
• 27:51
  financial system is insolvent, and we have to find an
• 27:54
  alternative. And we think the alternative is
• 27:57
  Bitcoin. And all you have to do is buy
• 27:59
  some Bitcoin, take it into custody, go live your life,
• 28:01
  repeat the process. It's a very simple process here.
• 28:03
  But hey, we all know the people with the big bags, the people
• 28:07
  with the monopoly on violence, they're going to continue to
• 28:10
  perpetuate the financial system because they are incentivized to
• 28:15
  profit off of this. And this is the whole scam of
• 28:18
  the world right now. So guys, This is why we kind of
• 28:21
  paired these two topics together.
• 28:23
  The central bankers seemingly embracing Bitcoin, also fighting
• 28:26
  around Bitcoin, and Jeff Booth explaining to us the global
• 28:29
  economy is insolvent. So I don't know about you, but
• 28:32
  this would make me want to stack more Bitcoin if I actually had
• 28:34
  Fiat left. If I wasn't already all in on
• 28:37
  Bitcoin, I would be capitulating my dollars as quickly as
• 28:40
  possible. Anyways, I'm ranting enough, I'm
• 28:44
  losing my breath over here. I'm OK I think.
• 28:45
  That's what Sailor figured out. He's like, let me just keep
• 28:49
  putting all my Fiat into Bitcoin and, and you know, pumping my
• 28:53
  own bags. But one of the things I'm going
• 28:55
  to disagree with you on Opti, is you said slow, sudden adoption
• 28:59
  or slow and gradual adoption of Bitcoin.
• 29:02
  I want to see a fast and sudden adoption of Bitcoin because
• 29:05
  every day the passes we're growing poorer and poorer.
• 29:09
  And despite popular belief, it's not fun.
• 29:11
  It actually creates a lot of wars.
• 29:13
  And I think that what President Trump is doing right now with
• 29:18
  backing the strategic Bitcoin reserve that Senator Cynthia
• 29:22
  Loomis is already passing through Congress is a direct
• 29:26
  reversal of the system that we have where we depend on money
• 29:30
  printing and debt to sustain Fiat.
• 29:33
  I think that eventually, you know, when the people, the same
• 29:38
  people that want money to create war, are realizing that they're
• 29:43
  actually going to need Bitcoin to fund wars.
• 29:48
  But in reality, once they have Bitcoin, they're going to
• 29:51
  realize, damn, I don't want to spend this.
• 29:53
  Maybe I should not go to war with this country.
• 29:56
  Maybe there's a more diplomatic way of of solving these issues.
• 30:01
  And so I, I just can't wait to see how that is going to turn
• 30:06
  out. I think that this Bitcoin
• 30:07
  strategic reserve, like I said, is a direct reversal of the
• 30:11
  system that we've been living on.
• 30:13
  And as soon as the country adopts Bitcoin, as soon as we
• 30:17
  get on the same standard as El Salvador, we are going to be so
• 30:22
  much happier for it. Our economy is just going to
• 30:24
  flourish and people are going to adopt that system for
• 30:29
  themselves. Yeah, I, I totally agree though
• 30:32
  the reason I kind of would like to see a slower adoption of big.
• 30:37
  Obviously I want to see, you know, number go up.
• 30:38
  I like, look, I'm not ashamed to say I want to see number go up
• 30:41
  anymore, but I think a slow adoption of Bitcoin would just
• 30:46
  be a lot better for all the people that aren't in Bitcoin.
• 30:48
  And that's kind of what I'm thinking.
• 30:50
  And that's like. Kind of even if we put even if
• 30:53
  we put the number go up aside, right, I think that the faster
• 30:57
  we all get on board, the faster even people who like are
• 31:02
  supposedly like going to stay behind are going to also get on
• 31:05
  board. People who have a lot of Bitcoin
• 31:07
  are going to want to spend it. Employee employment is going to
• 31:10
  go up. People are going to start paying
• 31:12
  their employees with Bitcoin, or so we, I hope.
• 31:16
  And so I think that, you know, the faster we get this done, the
• 31:20
  faster it will be cemented into the consciousness of society.
• 31:25
  And we'll be able to, you know, maybe it, it'll be a little bit
• 31:28
  of a rough start and there will be people who push back against
• 31:31
  it. But I think the faster we get
• 31:34
  through this, the faster we implement it, the faster we can
• 31:37
  get to hyper bitcoinization. I'm radical, remember?
• 31:41
  Yeah, you're radical. I mean, I mean radical.
• 31:44
  The idea is, you know, it just reminds me of when you talk to
• 31:48
  normies about Bitcoin today, most of them are still like,
• 31:51
  what are you even talking about? You're like, this is crazy.
• 31:54
  So I don't I don't see a path where we get there quickly
• 31:58
  without just like forcing people to buy Bitcoin.
• 32:00
  And you know, as a as a semi libertarian, I'm like, I don't
• 32:03
  like the forceful behavior. I would rather be forced to buy
• 32:07
  Bitcoin through these measures than to be forced force to buy
• 32:11
  Bitcoin because the world has completely gone in the gutter.
• 32:16
  Imagine if, if, imagine if you would have to buy Bitcoin to
• 32:19
  survive to to survive like either a nuclear war or
• 32:23
  something where like, you know, we, we absolutely need Bitcoin
• 32:27
  because things have gotten so bad that now we need Bitcoin.
• 32:31
  But imagine now it's like, oh, the country has adopted Bitcoin.
• 32:36
  This is a positive thing. So I better get on board.
• 32:39
  I think that that's a much better sit like way to force
• 32:43
  people and to like or get or get people to adopt Bitcoin because
• 32:47
  you're doing it on positivity versus death and destruction.
• 32:53
  That's that's the key. I think for Bitcoiners, the best
• 32:56
  thing that we have going for us is that every single bitcoiner
• 33:00
  that I talk to has low time preference and prefers peace.
• 33:03
  And I think that when you like you're saying Sophie, when you
• 33:06
  adopt this Bitcoin standard, you, you ultimately want to see
• 33:10
  people thrive and you understand that the thing holding them
• 33:13
  under the water right now is this manipulated monetary force.
• 33:18
  And I think that what we have to prepare for as Bitcoiners who
• 33:22
  want peace with a low time preference is there going to be
• 33:25
  a pile of people who get caught in this savage undercurrent that
• 33:30
  Fiat is currently is currently enabling.
• 33:32
  I think you're bang on. Every single day the Fiat system
• 33:35
  is around is one more day where there's more people getting
• 33:38
  sicker and poorer and digging a hole that's deeper from to get
• 33:42
  out of what we need to prep for right now in the like starting
• 33:46
  immediately. Every single one of these people
• 33:49
  watching this show and and and in the Bitcoin landscape is we
• 33:53
  need to start building the life vests for when people who have
• 33:57
  their entire net worth stuck in a house or their entire net
• 34:00
  worth stuck in a four O 1K or some other kind of, you know,
• 34:04
  garbage investment scheme, like a, you know, some kind of life
• 34:08
  insurance policy or any of the other scams that we've been sold
• 34:12
  in the place of Fiat or as as a result of Fiat and in the place
• 34:16
  of sound money. We need to prepare and kind of
• 34:18
  understand how do we, you know, get those people onto the
• 34:22
  Bitcoin standard once their net worth is gone and it's going to
• 34:25
  transition towards this incredible value for value state
• 34:30
  and the next generation is going to benefit greatly from that.
• 34:33
  Only because though there's a group of pro peace and and you
• 34:38
  know, ultimately low time preference individuals here that
• 34:41
  want to enable and help the sovereignty of the future.
• 34:45
  Yeah, totally. It is a it is very crazy how,
• 34:49
  you know, Bitcoiners kind of get get spit in the face by everyone
• 34:52
  out there and we're literally just trying to help them.
• 34:54
  It's it's like we're just, we're trying to help you.
• 34:57
  Like we've unplugged, you know, we're probably wealthier than
• 35:00
  we've ever been. And everyone's like, quit trying
• 35:02
  to show me this crap. And you're like, OK bro.
• 35:05
  That's so something you just said though, welfare that we've
• 35:07
  ever been, that is historically how it's always been because you
• 35:12
  have more time to accumulate. Like you work hard when you're
• 35:15
  young, you spend less than you earn, and then every single
• 35:19
  decade that passes by, you should be wealthier than you've
• 35:21
  ever been. This is the like for the last
• 35:24
  2000 years, this is how it's worked.
• 35:26
  Only, you know, since like, you know, 1913 and then 1971, only
• 35:32
  then when did people start getting less wealthy as they
• 35:35
  went on because cost of living started outpacing their ability
• 35:39
  to, to save. And, and, and now I know that
• 35:42
  like my peers, we don't even talk about saving anymore.
• 35:45
  Savings is a, is, is long gone. It's either survival or
• 35:49
  investing. And, and frankly, you guys have
• 35:51
  heard me hear, they say it here before.
• 35:53
  Investing is just another word for gambling.
• 35:56
  And, and frankly, in Canada anyways, gambling is tax free.
• 35:59
  So you're literally incentivized to go to the casino rather than
• 36:02
  to invest your money. It is such a perverted system
• 36:07
  that doesn't enable sovereignty, doesn't enable individuals to
• 36:10
  thrive. It's just some like loopy,
• 36:14
  gaslit, complete backwards monetary system that lots of
• 36:19
  people have been brainwashed into.
• 36:20
  And I think it's our job right now to, you know, we gotta ride
• 36:24
  the line. You've heard me take issue
• 36:26
  before with with like toxic maxism.
• 36:29
  I liken it to a, you know, a street corner preacher.
• 36:32
  But you know, you know, I'm trying to find the I'm trying to
• 36:34
  find the line. Like, you know, we have to alert
• 36:37
  these people and wake these people up.
• 36:40
  But but how do we do that without sounding insane?
• 36:43
  It's. A force.
• 36:45
  Yeah. OK.
• 36:49
  OK, Sophie. OK, Joe, Joe, Joe, we're on the
• 36:51
  world. YouTube oh man, that's so good.
• 36:55
  No, I actually just just to like put a bow on this.
• 36:58
  I did see someone tweet the other day and I forget what the
• 37:02
  Twitter name is and he's loosely a Bitcoin like he is a
• 37:05
  bitcoiner, but he kind of kind of talks about more about the
• 37:08
  macro landscape. And I think I might have
• 37:10
  mentioned this at some point this week, but it's the idea of
• 37:12
  like, it is our duty to continue to try to wake people up.
• 37:16
  Like we have this certain understanding, this certain
• 37:18
  knowledge of the world going on. And as much as us Bitcoiners,
• 37:22
  you know, a lot. I, I kind of done it in my
• 37:24
  personal life where I've kind of tuned out trying to show Bitcoin
• 37:26
  a lot And, and my personal life, because I, you know, I do it
• 37:29
  every single day on the, on the show.
• 37:30
  It's like my job and I, I try not to like blow up
• 37:33
  conversations with just like massive Bitcoin shows.
• 37:35
  But I still do believe it's, it's our duty to continue to try
• 37:39
  to educate people, try to spread this knowledge and show people
• 37:41
  there is an alternative or else like, what's the alternative?
• 37:44
  You know, you, you get richer and everyone around you is just
• 37:47
  in destitute, like, and pain. It's like, that's not the world
• 37:51
  I want to live in. But hey, you know, to each their
• 37:53
  own. And that's kind of kind of the
• 37:55
  way we're going. You know, we can't all be a
• 37:57
  radical like Sophie and being like, we got to put them in cams
• 38:00
  and then force them, No. Listen, I can't tell you how
• 38:04
  many of my friends I have told download cash app right now, buy
• 38:10
  some Bitcoin right now because that's just like the easiest way
• 38:14
  to like get their feet in the water and like three months
• 38:16
  later, I'm like, see, Bitcoin is up.
• 38:18
  This happened like the last cycle and I was like, you see it
• 38:23
  went up. They're like, yeah, I sold.
• 38:25
  I'm like, what did you but I told you to hold.
• 38:29
  They're like. Wrapped up in this investment,
• 38:31
  you know, mindset, you know. Which is exactly like you said,
• 38:35
  it's gambling. Get on the rat race on the
• 38:37
  treadmill, move, move, move, move.
• 38:39
  And really, you know, we got to show them that like, what are
• 38:42
  you exiting for? What could you possibly be
• 38:44
  selling Bitcoin to buy? And when you start pricing
• 38:47
  literally everything in Bitcoin, it falls.
• 38:51
  It falls so dramatically. It's, it's, it's brutal.
• 38:53
  Actually. The only thing that you can
• 38:55
  really invest in, I think that that would go up would be in
• 38:58
  yourself, which again, perfectly aligns incentives for the entire
• 39:02
  world, because then you get to provide more value to the world
• 39:05
  and earn more value in return. It's like when this is where the
• 39:09
  quote comes from, fix the money, fix the world.
• 39:11
  When you align incentives completely from from from A-Z,
• 39:15
  then you actually have the ability to have a world that's
• 39:18
  getting value. Zed wow, you know you sound like
• 39:21
  an American, but really you're still a Canadian bro cheese.
• 39:28
  Guys, I gotta work on my yank speech.
• 39:32
  Yeah, yeah, yeah. Don't, don't say derogatory
• 39:34
  terms on this show. This is a very inclusive show
• 39:36
  here, OK? What are you talking about,
• 39:38
  Otti? The Yankees are an American
• 39:40
  institution. Yeah, yeah, yeah.
• 39:43
  Anyways, anyways, we got, we got some much saga in the news
• 39:47
  today. So let's get into that and break
• 39:49
  everything down for you guys. Here we go.
• 39:52
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  And I honestly I keep saying this and I haven't actually
• 41:55
  tried it but it this connected with envoy it literally feels
• 41:58
  grandma friendly. So someone out there please
• 42:01
  force their grandma to use a passport connected to envoy and
• 42:04
  report back to me. Fact Check me in the chat
• 42:08
  they're so simple anyway scan the QR code right here here here
• 42:12
  and get yourself a passport by foundation and you can use a
• 42:14
  promo code simply to get a discount here we go all right
• 42:19
  guys, so as I was telling you guys we have a few sagas I'm
• 42:22
  going I'm going to kind of connect a few different stories.
• 42:24
  Actually I'm going to do the main story and then if I have
• 42:28
  enough time I'll get to another my story.
• 42:30
  So the main story here guys is surrounding Tesla.
• 42:33
  So let me pull this up I'm here in Tesla's earning update
• 42:38
  quarterly update deck for 2024 Q 4 and you know we're not going
• 42:43
  to talk about Tesla. This is not a Tesla show, but
• 42:46
  even though Tesla in, in the normie news, if you were reading
• 42:49
  some headlines around this Tesla quarterly report, it may have
• 42:55
  looked like Tesla's, you know, automotive output is down.
• 42:58
  There's a, there's a kind of a lot of fun around the, the Tesla
• 43:01
  quarterly report. But for us bit corners, there
• 43:04
  was a very, very big nugget in this.
• 43:07
  And So what am I talking about? You can see here profitability.
• 43:10
  We're not going to go over everything, but you can see 7.1
• 43:13
  billion GAAP net income in 2024 and 2.3 billion in Q4, including
• 43:20
  a point 6 billion mark to market gain on digital asset.
• 43:24
  Now for you guys, you know they don't know what the hell that
• 43:27
  means. Essentially that means that
• 43:30
  Tesla has implemented the fasby accounting rules surrounding the
• 43:34
  Bitcoin that they are hardly. So as you remember fasby
• 43:38
  accounting rules just went into effect in December.
• 43:40
  It looks like Tesla has implemented this and, and they
• 43:44
  essentially have increased their earnings this quarter from
• 43:48
  unrealized Bitcoin gains by 26%. So now that this stuff is
• 43:53
  happening now we're getting more receipts out there, more points
• 43:56
  showing us that, hey, you know, adding Bitcoin to your balance
• 43:58
  sheet isn't going to just be a detriment to your earnings
• 44:01
  report. You can actually claim the
• 44:04
  unrealized gains on your Bitcoin.
• 44:05
  And actually, Adam, you, you, you were given a good TLDR for
• 44:09
  Sophie before the show. Can you explain in the simple
• 44:12
  terms that you did for Sophie for the the audience, what the
• 44:14
  fasby accounting rule change actually means for a company?
• 44:18
  Yo don't lie up to you that was for you bro.
• 44:20
  That was me explaining it simply for you.
• 44:23
  Now listen, before fasby or with the fasby rules, you could buy
• 44:28
  Bitcoin at 50K and if Bitcoin went to 100K you couldn't show
• 44:32
  that on your balance sheet. So basically your balance sheet
• 44:34
  is all of your assets. If you have a house, or let's
• 44:37
  say you have an office building, you have cash and you have
• 44:40
  Bitcoin, you weren't allowed to show the increased value of your
• 44:44
  Bitcoin, which meant your assets continued to look like garbage,
• 44:48
  even though in real terms, in actual value held by the
• 44:52
  company. That was the opposite case
• 44:55
  because you had Bitcoin that was appreciating in value, but what
• 44:58
  you could do is mark it down in value.
• 45:01
  So basically it was a weird accounting rule that only
• 45:05
  allowed you to mark your assets down, which frankly does
• 45:09
  investors a disservice. I don't know who thought that
• 45:11
  was a good idea, ever. I can't figure out the first
• 45:14
  basic principle other than, oh hey, we're measuring garbage
• 45:17
  fake money anyways, may as well put some garbage fake rules
• 45:21
  around it. But now that that's gone, we see
• 45:24
  Tesla who bought Bitcoin what four years ago at like 20 K
• 45:29
  something crazy. They now get to massively
• 45:32
  increase the value of those Bitcoin on their balance sheet,
• 45:36
  which basically shows a high level investor who looks at
• 45:39
  three things. How much money do they make?
• 45:41
  How much money do they have? And what is the future of this
• 45:44
  business look like Now? The how much money do they have
• 45:49
  changes completely because they actually have Bitcoin that is
• 45:52
  valued properly on their balance sheet.
• 45:54
  This was a massive barrier to other companies holding Bitcoin
• 45:58
  before because it's like, why would I buy something if I can't
• 46:01
  show my shareholders the value that it actually is?
• 46:05
  Imagine like imagine a company measured on 1/4 by quarter
• 46:09
  basis. Not being able to show the real
• 46:12
  value of something on 1/4 by quarter basis doesn't make
• 46:15
  sense. So now people seeing Tesla and
• 46:18
  micro strategies showing their real value of Bitcoin on the
• 46:22
  balance sheet, padding their balance sheets, it's going to be
• 46:25
  a great thing. Yeah, this is huge.
• 46:27
  This is why we've been telling you guys constantly, you know,
• 46:30
  we've done a couple videos on this.
• 46:32
  Sailors been predicting that the three things needed to happen
• 46:34
  for $5,000,000 Bitcoin is 1, the Bitcoin ETFs, the FAZBE
• 46:38
  accounting rules, which is this is what this story is about.
• 46:41
  And then of course, banks custing Bitcoin.
• 46:43
  And we actually kind of connected all of those today.
• 46:45
  We no one wants to talk about the ETS anymore, but repealing
• 46:48
  Saab 121 was huge. Now we got another report here
• 46:52
  coming out of Tesla's quarterly earnings.
• 46:54
  They're using the fasby accounting rules, they're
• 46:56
  implementing it. You know, they claimed $600
• 46:58
  million on their earnings or literally 26% of their earnings
• 47:02
  were their unrealized capital gains tax or sorry unrealized
• 47:06
  capital gains on their Bitcoin. And and this made their stock
• 47:10
  pump up by 5% in after hours trading, which I know for us
• 47:14
  Bitcoin is like 5% is like, yeah, whatever.
• 47:16
  Like who cared? 5% on NASDAQ is like that's a
• 47:19
  big, big, big deal. And they added $60 billion of
• 47:24
  shareholder value, you know, 100 X multiple on their BTC.
• 47:27
  Like this is crazy stuff. Now moving forward a little bit,
• 47:30
  you know, Parker Lewis did some back of the napkin math and he
• 47:33
  goes up by my math, the Tesla sold roughly 75% of its Bitcoin.
• 47:37
  So if they have kept that, if they didn't sell that Bitcoin,
• 47:41
  this would have been a $2.4 billion increase had they just
• 47:45
  hold that Bitcoin. So absolutely insane numbers
• 47:49
  going on, right? Like it's this is going to blow
• 47:52
  the game open around Bitcoin and corporations adding Bitcoin to
• 47:55
  their balance sheet. So this is this is a big news
• 47:58
  story. Now, Adam, I do have another
• 48:01
  story here. Do you want to chime in here
• 48:02
  real quick? You want to add to this or you
• 48:04
  want to move on to the next Musk related story and we can kind of
• 48:08
  roll them all in together. Let's roll it, man.
• 48:10
  Let's let's see what you got. All right, so this is Musk with
• 48:15
  Tesla. And we all know, you know, Musk
• 48:17
  is kind of he's he's been skirting around Bitcoin for a
• 48:20
  long time. And you know, he's got the doge
• 48:22
  meme around the, you know, Department of Government
• 48:25
  efficiency. He kind of tweeted about Bitcoin
• 48:28
  the other week, seemingly a little more pro favor around
• 48:31
  Bitcoin. He was tweeting about Ross.
• 48:34
  He's been tweeting about Roger Burr.
• 48:36
  So obviously he's having these conversations around Bitcoin.
• 48:40
  Well, a recent news came out around, you know, the quote UN
• 48:44
  quote X everything app. And this is I'm gonna butcher
• 48:47
  her last name Linda Yakarino. I think it is.
• 48:50
  It's been. Yeah, that's great.
• 48:51
  All right, awesome. You know, I can speak today.
• 48:54
  So she rolled out this week that they are moving forward on their
• 48:58
  quote UN quote X money app or X money payments X everything app.
• 49:03
  But there's a glaring, you know, glaring omission here.
• 49:07
  But they are trying to use the narrative and rhetoric around
• 49:11
  Bitcoin. So here we go.
• 49:12
  Her tweet another milestone for the everything app.
• 49:14
  A Visa is our first partner for the X money account, which will
• 49:18
  debut later this year. It allows for secure plus
• 49:21
  instant funding to your X wallet via visa direct.
• 49:25
  It connects you to your debit card, allowing P to P payments.
• 49:28
  Interesting, interesting use of verbiage there options to
• 49:32
  instantly transfer funds to your bank account.
• 49:35
  First many a big announcement about X money this year and then
• 49:39
  you know, here's the Visa post here.
• 49:41
  We're excited to partner with X money on the launch of X Money
• 49:43
  account Visa direct. We'll make it possible for USX
• 49:46
  money account users to fund and transfer money in real time with
• 49:50
  their debit cards. Now of course they they
• 49:53
  mentioned P2P. Now there is glaring omissions
• 49:57
  and I would look for this there there is no talks about it being
• 50:01
  with Bitcoin. Obviously, we've been talking
• 50:03
  about this for a while. I think if Twitter did actually
• 50:06
  implement their X money everything out with Bitcoin,
• 50:08
  that would be a total game changer.
• 50:10
  But it looks like they're going down the traditional financial
• 50:13
  route. So it's very interesting when
• 50:14
  you compare the two different companies.
• 50:16
  We have Tesla, you know, using FAZBE accounting rules to mark
• 50:20
  up their earnings and their their reserves with Bitcoin.
• 50:24
  We have X money coming out, seemingly omitting Bitcoin,
• 50:28
  doing some form of peer-to-peer. I think I saw some, some some
• 50:31
  more intricacies on this and it seems like they might be
• 50:34
  implementing some form of stablecoin to back this X money
• 50:38
  payments everything app they're going to be using visa.
• 50:40
  Visa obviously for a long time has been kind of working with
• 50:44
  stablecoins and you know, quote UN quote block chains.
• 50:46
  They're they're they're treating Bitcoin kind of like it's, you
• 50:49
  know, hazardous material over here.
• 50:51
  But if Twitter really wanted to change the game, they should be
• 50:54
  adding Bitcoin to this. So a lot of news coming out of
• 50:57
  Musk or rather Musk related companies around Bitcoin or some
• 51:01
  omissions of Bitcoin. But you know, the big tale for
• 51:04
  me is as much as I would like to believe that Twitter or X is is
• 51:10
  on the fight for free speech, there is kind of some growing
• 51:14
  concerns around what is going on with Musk.
• 51:16
  And I'm, I'm not here to, you know, shit on Musk here, but he
• 51:20
  has been a little bit maniacal on Twitter.
• 51:22
  He's so tragically human. Yeah, he's so tragically human.
• 51:26
  You know, if you don't agree with Musk, it seems like he
• 51:29
  might be losing your blue check Marks and you know your
• 51:31
  monetization now send that down and go to the logical conclusion
• 51:35
  here. If he's doing that on the
• 51:37
  Twitter platform, I'm sure that's going to happen with the
• 51:39
  X money platforms as well. Obviously, we would love to see
• 51:43
  just Bitcoin natively implemented into Twitter.
• 51:47
  That would be the real game changer here.
• 51:49
  But it looks like they're going to be using just traditional
• 51:52
  financial tools to implement this X money app.
• 51:55
  But it is interesting that they are using, you know, some
• 51:58
  Bitcoin means here peer-to-peer payments, you know, and.
• 52:01
  What are the? Peer-to-peer payments.
• 52:02
  It's like Zelle Venmo. What's?
• 52:04
  What's the difference between Elon Musk and a central bank?
• 52:09
  Bars. Like seriously, I love Elon, I
• 52:13
  love Tesla, I love SpaceX. He's done some really great
• 52:16
  things. Nobody can deny that.
• 52:17
  But when it comes to Bitcoin, everybody knows that Elon has,
• 52:23
  you know, he he he doesn't like it.
• 52:25
  And I think it's partially because maybe he never got a big
• 52:30
  enough stack. Maybe he just didn't stack
• 52:33
  enough Bitcoin and now he's like salty that he didn't get in
• 52:37
  early enough like Sailor did. Maybe that's why he pivoted to
• 52:41
  Doge. That's why he's trying to make
• 52:43
  his own shit coin on XI. Don't know but what I don't know
• 52:49
  what the difference is. I think that he like this is, I
• 52:52
  think exposing in real time platforms over protocols.
• 52:56
  At the end of the day, Twitter's a business and Twitter has to
• 52:59
  make money and you just don't get to clip fees when you have
• 53:03
  Bitcoin. The lowest common denominator on
• 53:05
  Bitcoin is no fees actually peer-to-peer.
• 53:08
  And when you introduce that protocol into something, you're
• 53:12
  losing massive streams of revenue.
• 53:14
  Visa's probably going to pay XA billion dollars in whether it be
• 53:19
  an interchange fees or exchange fees or just in referral fees or
• 53:23
  whatever it may be. And and the only way they can do
• 53:26
  that is through their centralized censorship garbage.
• 53:30
  I think that just like communication got way better
• 53:33
  when we decentralized, you know, went to more of a protocol
• 53:36
  driven communication away from a platform driven communication.
• 53:40
  Our money is also getting way better on a protocol driven
• 53:43
  money versus a platform driven money.
• 53:46
  X money is going to fail. They are too late.
• 53:48
  The time for centralized payments was 10-15 years ago.
• 53:52
  PayPal. You know he should have kept
• 53:53
  with PayPal if he wanted to do the everything app in a platform
• 53:57
  centric fashion. But at this point, it's done
• 54:00
  centralized payments are over. If you are not integrating
• 54:04
  directly with the peer-to-peer blockchain, the peer-to-peer
• 54:08
  money protocol in Bitcoin, you're just going to lose.
• 54:12
  I think that, you know, frankly, noster with zaps is infinitely
• 54:17
  better than some X money, you know, changing blockchains.
• 54:21
  I got WBTC, I'm using Visa Visa's banning me because I said
• 54:26
  the wrong thing on Twitter. Social credit score.
• 54:29
  There's just aligned incentives the whole way down this track
• 54:33
  and again, moving towards protocol driven communication
• 54:36
  and protocol driven money is the win at the end of the day.
• 54:40
  Yeah, it really, you know, not being not not to be the, the
• 54:44
  full tinfoil hat bitcoiner on the show, which I am.
• 54:48
  It really does seem like X money is just kind of laying the
• 54:51
  groundwork for the, the Western social credit scores going on,
• 54:54
  especially connecting your social media to your money that
• 54:58
  like, guys, if, if this is the case, I'm literally going to be
• 55:01
  completely unbanked. I, I think I'm, I'm, I know my
• 55:05
  social credit score right now is when the club very low, very low
• 55:09
  over there. If this gets implemented
• 55:11
  worldwide or at least on, you know, the nation state level
• 55:14
  here in the US and it kind of takes over like Twitter's kind
• 55:17
  of doing as a social media app, I think a lot of this Bitcoin is
• 55:21
  going to be so wrecked. We're going to be forced to use
• 55:23
  Bitcoin no matter what. It's not just going to be our
• 55:26
  option. It's going to be our necessity
• 55:28
  to survive. But yeah, it is very crazy when
• 55:30
  you kind of look at the the dichotomies we're seeing from
• 55:33
  Tesla and Twitter, both must companies kind of doing two
• 55:39
  different things in in the same regards.
• 55:41
  We have Tesla doubling down on the fasby accounting rules.
• 55:45
  You know, they're they're benefiting from Bitcoin gains.
• 55:47
  And then on the flip side, it looks like they're omitting
• 55:51
  Bitcoin from these payments apps.
• 55:52
  So hey, we'll. Yeah, but again, both things,
• 55:54
  both things pointing towards the same, which is just Elon wanting
• 55:58
  to prop up the business. Yeah.
• 56:00
  And I think that, you know, and, and to be fair and, and play the
• 56:03
  other side. I saw comments earlier that was
• 56:05
  like, or the, the tweet we showed was like, oh, if they
• 56:08
  would have just held Bitcoin, they would have been up more and
• 56:11
  fair enough. But I think that they probably
• 56:12
  had to spend the Bitcoin to build the Gigafactory.
• 56:15
  You know, when you build a Gigafactory and then, you know,
• 56:17
  it makes it launched into product.
• 56:19
  That's what Bitcoin is there for.
• 56:20
  The point of Bitcoin is not just to hold Bitcoin and live in your
• 56:23
  cardboard box. The point is to be able to
• 56:25
  innovate and bring new things to the world and add more value to
• 56:28
  the world. Invest in yourself and and all
• 56:30
  that good stuff. Yeah, he said.
• 56:32
  He said that he was selling because Tesla couldn't be
• 56:36
  aligned with Bitcoin due to environmental concerns, which
• 56:40
  was a lie. And he's lying again and he's
• 56:43
  lying again when he says that this is going to be a
• 56:46
  peer-to-peer money. There's only one peer-to-peer
• 56:48
  money. Actually, there's two.
• 56:50
  There's cash and there's Bitcoin and then.
• 56:53
  Even cash is reliant on. Exactly.
• 56:56
  Exactly. A third party because you have
• 56:58
  to authenticate it and you have to have a government that's
• 57:00
  backing it. So yeah, no, I totally.
• 57:02
  There you go, I stand corrected. So, so when if he would have
• 57:05
  said I'm selling my Bitcoin because I want to build a giga
• 57:08
  factory, my respects love that because I love Teslas.
• 57:13
  I think they're the coolest cars out there in the market.
• 57:16
  But he literally sold it. Tesla cannot be associated
• 57:20
  because there are environmental concerns and so.
• 57:23
  Yeah, you know. That's not cool.
• 57:26
  Like and and he and he I remember like the FUD that he
• 57:30
  spread like was kind of correlated there with the price
• 57:34
  going down and everything. So, you know, I, I, I, I don't
• 57:38
  think that's cool and then pumping doge by saying that
• 57:40
  that's like a, a superior crypto or whatever, Like I'm, I'm, I'm
• 57:44
  not for that. And I, I, and if he again, like,
• 57:48
  if he had done it to sell, like to make like something better
• 57:52
  for the world, that's really, that's great.
• 57:54
  But he doesn't and he's, and it really offends me actually that
• 57:59
  he's lying when he says that X is going to have a peer-to-peer.
• 58:03
  It's like you're insulting people's intelligence.
• 58:06
  You're insulting all of Bitcoin Twitter, who knows what real
• 58:10
  peer-to-peer technology is. And it's not this when Visa is
• 58:15
  involved in the middle. When there is a central bank
• 58:18
  that is controlling the currency, you are not inventing
• 58:22
  or providing a peer-to-peer service on your platform.
• 58:26
  You're actually just a shit coiner.
• 58:33
  Get up the chat saying get up all right, cooking.
• 58:36
  Well, it is interesting here before I move on and we're going
• 58:39
  to talk about Bitcoin. Well, it's funny seeing, you
• 58:42
  know, I would say Niko's better half just like going in on Elon
• 58:46
  and Niko loves Elon. So it's just funny.
• 58:48
  It's just, it's really. Funny too, but you know, like
• 58:52
  somebody's got to put him in his place.
• 58:54
  Sophie's the real Bitcoiner, though, because like, it's like.
• 58:57
  But here's the thing, listen up, listen up.
• 59:00
  When we as Bitcoiners, we have to to stop idolizing people we
• 59:04
  like, you know, the quote never meet your heroes is because all
• 59:08
  of your heroes fail you because they're only in it for
• 59:10
  themselves. Elon is no exception.
• 59:12
  I also love Elon. I think he's done, you know, for
• 59:15
  for humanity is amazing. And I also love his cars and I
• 59:18
  think his products are incredible.
• 59:20
  However, I don't put him on some pedestal like he can do no
• 59:24
  wrong. We have to be OK disagreeing
• 59:26
  with our heroes. We have to be OK, you know,
• 59:30
  having someone idolizing or, or looking at someone in a positive
• 59:33
  light and having them change, having our values change and
• 59:36
  being OK with moving that. And, and again, you know,
• 59:38
  talking about aligned incentives, Bitcoin enables you
• 59:40
  to do that. So I think, you know, the moral
• 59:43
  of the story is adopt Bitcoin and don't idolize people.
• 59:48
  Yeah, turn yourself into your own hero.
• 59:50
  I love that. I love that.
• 59:51
  I love that. All right, all right, all right,
• 59:53
  let's let's pivot here and let's talk about what Adam's been
• 59:57
  working on. It's been a minute, man.
• 59:59
  So we're going to go into the culture and talk about Bitcoin.
• 1:00:03
  Well, there's a lot of a lot of surprises, and I got a little
• 1:00:05
  sneak peek of some stuff, but we can't, we can't, we can't fully
• 1:00:09
  sneak peek some stuff. So we're going to just talk
• 1:00:10
  about things that have happened. All right, let's get into it.
• 1:00:14
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  because this is where simply Bitcoin was born from.
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• 1:01:17
  Make sure you get to Dallas April 3rd through April 6.
• 1:01:21
  Come join us at Bit Block Boom. Of course, if you aren't going
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  to make it, you don't want to spend some stats on the
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• 1:01:27
  The whole Simply Bitcoin team will be there.
• 1:01:28
  We'll have the news desk, but make sure you get down there,
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  guys. It's in Dallas this year.
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• 1:01:40
  All right, yo. Hang on, hang on, listen to
• 1:01:42
  Ofti. Just subtle mention of the Texas
• 1:01:45
  barbecue and I got to the Tennessee BBQ.
• 1:01:48
  Holy love, hometown boy, I'm. Biased here.
• 1:01:52
  I you know, I thought I used to know what good BBQ was.
• 1:01:56
  Now I realize it's Texas BBQ above all.
• 1:02:00
  Yeah, for just for everyone watching.
• 1:02:02
  I got to hang ofti and I were hanging out in Nashville at the
• 1:02:06
  at the Bitcoin conference and we went for BBQ multiple times and
• 1:02:11
  this man was salty every single time being like, Nah, this ain't
• 1:02:15
  real. This is this is way worse.
• 1:02:18
  What are these people can't even call this BBQ.
• 1:02:20
  So I. Don't know this, this BBQ's mid
• 1:02:23
  and I'm like, is this good BBQ? I'm like, Nah, this is mid.
• 1:02:28
  Like it's delicious obviously, but it's just not.
• 1:02:30
  It just doesn't. I don't know what they do here.
• 1:02:32
  They just know how to make barbecue in Texas.
• 1:02:34
  So hey, it is what it is all right, All right anyways,
• 1:02:37
  anyways, let's let's talk about Bitcoin.
• 1:02:38
  Well, so Adam, man, how you been good to have you back on the
• 1:02:42
  show super hyped about, you know, working with you guys,
• 1:02:46
  partnering with you guys. I think 2025 is going to be a
• 1:02:48
  huge year, not just for us here, you know Bitcoin well and simply
• 1:02:52
  Bitcoin, but for Bitcoin in general.
• 1:02:54
  But man you guys have been working really hard behind the
• 1:02:57
  scenes. So I know you do have some maybe
• 1:03:00
  you can do a live demo for people, but man, just teeing you
• 1:03:04
  up, bro. How is everything going on over
• 1:03:06
  there? Bitcoin?
• 1:03:06
  Well, and then you can rant and then I know actually actually
• 1:03:10
  before you do that guys get your lightning wallets out because
• 1:03:12
  Adam wants to give you guys some sats.
• 1:03:15
  So before before he's all ranted.
• 1:03:17
  Want to pull up your? No, no, no, no, no, you, you
• 1:03:19
  rant so they can get ready, so they'll have the wallets and
• 1:03:22
  then we'll and then we'll pull it up.
• 1:03:24
  Yeah, listen. So, OK, I saw comments earlier
• 1:03:26
  which actually teed it up perfectly.
• 1:03:29
  Bitcoin is your bank. And we were like, yeah, we also
• 1:03:32
  believe this, you know, as you know, I am D banked.
• 1:03:35
  I don't, I don't get a bank account here in Canada, but you
• 1:03:39
  know, I'm also lucky that I get paid in Bitcoin immediately.
• 1:03:43
  And so one of the things that we're trying to balance is how
• 1:03:47
  do you allow Bitcoin in self custody to be your bank?
• 1:03:51
  And there's two ways. 1 you got to handle the outflows.
• 1:03:53
  How do you live your life and how do you spend, spend Bitcoin
• 1:03:57
  to actually be able to, to pay for your life.
• 1:04:00
  But the first thing you need is to be able to receive Bitcoin
• 1:04:02
  from your employer. I don't know about you guys, but
• 1:04:05
  half of our of our province here in, in Alberta is is working for
• 1:04:09
  like oil and gas companies and they are decades away it seems
• 1:04:13
  like from from paying their people in bitcoins.
• 1:04:16
  So we wanted to give our customers a way to send their
• 1:04:20
  paychecks to Bitcoin well, and then have Bitcoin automatically
• 1:04:23
  sent to their self custody instantly right away the second
• 1:04:28
  we get paid, which effectively allows you to get paid in
• 1:04:31
  Bitcoin. This is on our mission towards
• 1:04:33
  replacing your bank with Bitcoin.
• 1:04:35
  Well, I do not want you exposed to the confines of Bank of
• 1:04:39
  America or to, you know, whatever garbage policies you
• 1:04:43
  know the Bank of the day is going to have.
• 1:04:45
  And so the way to do that is to circumvent the banks completely.
• 1:04:48
  We want you to be able to send your paychecks to Bitcoin well
• 1:04:51
  and then receive Bitcoin in self custody.
• 1:04:54
  And so we've launched direct deposit.
• 1:04:57
  And direct deposit looks like this.
• 1:04:59
  It's this little tab on the left hand side here.
• 1:05:02
  When you click that, you set how much Bitcoin you want on each
• 1:05:06
  and every paycheck that you get. You can have 60% Bitcoin, you
• 1:05:09
  can go 5 or 0% Bitcoin, but I strongly recommend going 100%
• 1:05:15
  Bitcoin, obviously, because we're not Fiat Maxis, we're
• 1:05:18
  Bitcoin Bitcoin Maxis, and Bitcoin maxi means 100%.
• 1:05:21
  But of course you do. Whatever is is kind of like
• 1:05:24
  going to be the right thing for you and your family stacking off
• 1:05:27
  of your paycheck. Next, you set which Bitcoin
• 1:05:30
  wallet you want to send to and when you send it to a Bitcoin
• 1:05:34
  wallet, you then click your direct deposit info and your
• 1:05:37
  direct deposit info is going to be able.
• 1:05:39
  This is kind of like a fake account.
• 1:05:40
  So I'm just, you know, mocking this up here, but it looks like
• 1:05:44
  this. So you get your, you get your,
• 1:05:47
  your direct deposit info and you send this to your your employer,
• 1:05:51
  your whoever sends you your paychecks, whoever sends you
• 1:05:53
  money. Really, you can even send, I
• 1:05:55
  mean, frankly, you could send this from one of your other
• 1:05:57
  banks as well, but they send your paychecks to these account
• 1:06:01
  numbers and then boom, Bitcoin gets sent instantly to self
• 1:06:05
  custody. The second we get that money,
• 1:06:07
  it's gone. It's out and sent to self
• 1:06:10
  custody. So you effectively get to live
• 1:06:12
  on Bitcoin. You get to adopt A Bitcoin
• 1:06:13
  standard. We started having this problem,
• 1:06:15
  especially here in Canada where it's like the banks are telling
• 1:06:19
  our customers what they can and cannot spend their money on.
• 1:06:22
  Some of our banks were saying you cannot send money to
• 1:06:25
  Bitcoin. Well, because we don't want you
• 1:06:27
  buying Bitcoin. And I'm like, OK, let's just get
• 1:06:30
  rid of the banks entirely. Let's go direct from employer
• 1:06:33
  straight to Bitcoin and then you know, we'll send the rest to
• 1:06:37
  your bank because we don't decide who gets your money or
• 1:06:39
  not. It's your money and you can
• 1:06:39
  spend it however you want. So that's what we're, that's
• 1:06:42
  what we're stoked on right now. And yeah, highly recommend you
• 1:06:46
  go get direct deposit set up. Just set a recurring stack, 10
• 1:06:50
  percent, 15%, twenty percent 100%.
• 1:06:55
  Buy Bitcoin. Be rich, I guess.
• 1:06:57
  Let's go choose Rich. Choose rich as the meme goes.
• 1:07:02
  Hey, so there's a there's a couple comments in the chat and
• 1:07:05
  and as I always like to tell you and and joke with you.
• 1:07:08
  So this is available in the only country that matters, correct?
• 1:07:14
  So. Hold on, Hold on, Adam.
• 1:07:17
  The actual question is, is this available in New York State?
• 1:07:21
  Yes, it is available in New York State.
• 1:07:23
  All 50 states can benefit from this.
• 1:07:25
  The limits are going to look a little bit different in New York
• 1:07:27
  State. I think they're 5 grand rather
• 1:07:29
  than 15, but I have to check on that.
• 1:07:33
  But yeah, all 50 states, we, we are, you know, obviously working
• 1:07:37
  hard to make sure that, you know, I, I think it's really
• 1:07:40
  dumb and I cannot believe what New York State.
• 1:07:43
  There's there's three problem states in the US and, and it,
• 1:07:45
  it's shocking to me how how brutal and, and all the stuff
• 1:07:50
  you have to go through to be there.
• 1:07:51
  But yes, available in New York State and yeah, basically anyone
• 1:07:57
  in the USA can have their paychecks immediately converted
• 1:08:00
  to Bitcoin and sent straight to self custody.
• 1:08:02
  That's like, that's set it and forget it, man.
• 1:08:04
  You go to work, you, you grind in the Fiat mines and you come
• 1:08:09
  home with Bitcoin and self custody.
• 1:08:11
  This is, this is the future that I want my kids to see.
• 1:08:14
  And as you guys know, this is what I build for people are
• 1:08:16
  always like, you know, how do you, how do you get the like,
• 1:08:20
  where does the inspiration come from for Bitcoin?
• 1:08:22
  Well, or you know, this like this mantra of being able to
• 1:08:25
  actually replace your bank with Bitcoin.
• 1:08:26
  Well, and I'm like, I'm just building what I need.
• 1:08:28
  I'm building what I want my kids to have access to.
• 1:08:31
  And that's work hard, get paid in Bitcoin, spend as little as
• 1:08:34
  possible. This is the This is the Bitcoin
• 1:08:36
  standard, baby. Let's go, let's go.
• 1:08:38
  All right. Well, I'm gonna pull up the
• 1:08:39
  wishing well right now, but I don't know.
• 1:08:42
  Yeah, yeah, go. On go on the wishing well note,
• 1:08:44
  just while you guys are getting your Lightning wallets ready
• 1:08:47
  also, you can now add your end pub to your Bitcoin Well
• 1:08:51
  account. Let's go straight up.
• 1:08:54
  It does nothing right now, but we are actively investigating
• 1:09:00
  ways to integrate the nostril protocol.
• 1:09:03
  It's kind of funny. We were talking about the the
• 1:09:05
  Elon. There's 210.
• 1:09:06
  We got to keep going till we got a good one though, yeah.
• 1:09:08
  Yeah, I'll keep it. Going keep it going.
• 1:09:10
  The so like obviously, you know, we were talking about Elon and
• 1:09:13
  the everything app and X money and all that stuff.
• 1:09:17
  It's kind of funny that Bitcoin well actually has a chance to
• 1:09:20
  accidentally turn into this way because we're so focused on
• 1:09:24
  independence and so focused on Bitcoin in self custody with the
• 1:09:29
  nostril protocol. Like we could just integrate
• 1:09:32
  your feed into your money app. You know, you could really have
• 1:09:37
  there we go 2100. It's it's it's happening.
• 1:09:40
  Feels like the well is primed. We could we could have and, and
• 1:09:44
  integrate ways that your noster account is actually able to even
• 1:09:48
  buy Bitcoin. You could, you know, there's a
• 1:09:51
  world where you could just send Adm and buy Bitcoin straight
• 1:09:55
  from your bank account or, you know, pay your rent with Bitcoin
• 1:09:58
  straight that way. So I think that we're pretty
• 1:10:00
  pumped on ways to to integrate the noster protocol, but you
• 1:10:04
  know, we're going to need help from the community.
• 1:10:06
  How do you want to use Noster in your Bitcoin well account?
• 1:10:10
  So please go add your NPUB. Follow us on Noster,
• 1:10:14
  primal.isitprimal.net, primal.net/winwell.
• 1:10:18
  You can go primal.net/adam if you want to follow me.
• 1:10:21
  And yeah, not social credit explicitly.
• 1:10:26
  Not my social credit, not good. Explicitly not social credit
• 1:10:31
  actually, there's a there's a Canadian here, VMAT, he says.
• 1:10:34
  When will this be available in Canada I'm guessing?
• 1:10:36
  You should be. Available there.
• 1:10:38
  Yeah. No, not yet in Canada.
• 1:10:39
  We're working on that, Adam. 'S listening to me.
• 1:10:42
  Adam's listening to me. Do it in.
• 1:10:43
  America First. Now I felt like our US product
• 1:10:46
  was falling behind and so we had to spend some time and, and, and
• 1:10:50
  you know, get off the off my back basically.
• 1:10:53
  But now listen, we are actively working on this in Canada as
• 1:10:57
  well. We want everyone in North
• 1:10:59
  America to be able to work hard, stack Bitcoin in self custody
• 1:11:04
  and then spend as little as they can.
• 1:11:05
  And I think that yeah, one step towards just replace your bank
• 1:11:09
  with Bitcoin. Well, this is something that we
• 1:11:11
  are constantly talking about here in the in the office is how
• 1:11:15
  do you replace your bank with Bitcoin?
• 1:11:17
  Well, and it looks like office on a office on a bad streak.
• 1:11:21
  So go sign up. I think if you use if you use
• 1:11:23
  your ref code Opti I think you get 55 free.
• 1:11:28
  Are we showing? We're all right, Let me I'm
• 1:11:33
  gonna show our Bitcoin well, right now in the chat.
• 1:11:34
  Let's let's do this. Or you could use
• 1:11:36
  bitcoinwell.com/adam. No, no, no, don't do that.
• 1:11:40
  That will also be fine, but. No, do not do that.
• 1:11:42
  Do not do that. Sign up to this one.
• 1:11:44
  It's in the chat. It's in the chat.
• 1:11:47
  And then also actually, Kay, while you're here, Opti, so
• 1:11:49
  check this out. So when you go here in your
• 1:11:51
  account, you can add a lightning address and you you legitimately
• 1:11:55
  get paid. Let let me show you.
• 1:11:56
  So I'm just using like a a custodial lightning wallet for
• 1:11:59
  my ref payments and my payments going out are literally ref
• 1:12:05
  payments. I.
• 1:12:06
  Wonder if you can? See this and then and then also
• 1:12:09
  look up here you can see Lightning cats because my kids
• 1:12:13
  and I have been feeding these cats on the Lightning network
• 1:12:15
  which has been. Oh my God, that's awesome.
• 1:12:18
  That is so cool. Shout out lightning cats dot IO
• 1:12:21
  'cause you can go and feed. Spend 500 stats in this like my
• 1:12:25
  my four kids. You know, it's becoming a weekly
• 1:12:27
  ritual where we just basically sit down.
• 1:12:29
  Have you seen lightning goats? Yes, yeah, same, same concept.
• 1:12:33
  We do both of them. We do both of them.
• 1:12:35
  It's it's it's unbelievable. So yeah, that's what I used lots
• 1:12:39
  of my ref payments for is for feeding the cats and the goats.
• 1:12:43
  But straight up like every time your referral uses their
• 1:12:49
  account, you get 10% of whatever we make on the transaction sent
• 1:12:54
  straight to your lightning address.
• 1:12:57
  And that can obviously be custodial.
• 1:12:58
  You know, you could use your, you could use your noster zaps
• 1:13:01
  address, but I recommend go to your own note, you know, get a
• 1:13:05
  payment address, hook it up to your note and then and then
• 1:13:09
  send, send your referred stats right there.
• 1:13:11
  It's it's just like it's the number one way in my opinion to
• 1:13:15
  just have passive. You get the orange pill people,
• 1:13:18
  you get to refer them to the safest Bitcoin platform on the
• 1:13:21
  planet and then you get to earn sats to self custody.
• 1:13:24
  I mean, let's go. Wow, safest Bitcoin platform on
• 1:13:29
  the planet. I love that that's almost steal
• 1:13:30
  that one with my, with my ads. Anyways, Adam, I know you have
• 1:13:35
  to run right now, but and I, I know, I, I know I can't actually
• 1:13:40
  do this and we can't really talk about it, but you did sneak peek
• 1:13:45
  some stuff to me Monday that I know our audience is super
• 1:13:50
  excited about. They've been yelling at us about
• 1:13:52
  it for months now. So should we just drop it?
• 1:13:55
  We should reward him and someone's been listening to us
• 1:13:57
  yap for an hour. I mean, this is your company.
• 1:13:59
  Do you know, do we have to cut through red tape here or are you
• 1:14:02
  going to just sneak peek it? I know it's coming.
• 1:14:04
  You told me it's coming soon, so hey.
• 1:14:06
  I don't, I don't have the visuals ready yet.
• 1:14:09
  I can maybe pull them up here. Let's see.
• 1:14:11
  But we've been hearing a lot. I mean, part of this direct
• 1:14:14
  deposit was a response to lots of the comments we've been
• 1:14:17
  getting. People wanna stack and they
• 1:14:20
  wanna stack frequently. And so let me see if I can get
• 1:14:23
  it here. Basically, we've been working
• 1:14:26
  pretty hard over the last, well, it feels like for the last 10
• 1:14:29
  years, but really the last probably 10 weeks we've been
• 1:14:33
  putting together the right steps so that you can have and here
• 1:14:38
  we'll look at this, OK. Well, he's gonna do it.
• 1:14:40
  He's gonna tease it. He's gonna.
• 1:14:41
  We're gonna do. It we're gonna do it so that you
• 1:14:44
  can get recurring buy on the Bitcoin well platform basically
• 1:14:50
  gonna add. So first of all, we're jazzing
• 1:14:52
  it up. It's gonna look absolutely
• 1:14:54
  beautiful adding in a little bit of purple.
• 1:14:56
  Purple is royalty and you know Bitcoin is royalty here, but
• 1:15:00
  then adding the ability to set up, you know, you click that one
• 1:15:03
  time button, you're going to set a weekly, bi weekly or monthly
• 1:15:05
  buys, you know, straight from your bank, going straight to
• 1:15:08
  yourself custody and then and then off we go.
• 1:15:11
  And so I'm showing this to Opti on Monday and Opti's like, yo,
• 1:15:14
  why no daily? You know, we're if you look at
• 1:15:16
  this, it's like one time weekly, bi weekly, monthly.
• 1:15:20
  Why no daily? And that's cuz we're also gonna
• 1:15:22
  be adding this lightning protocol here so that once we
• 1:15:26
  get lightning integrated, you're gonna be able to buy daily
• 1:15:29
  Bitcoin straight from your Bitcoin.
• 1:15:30
  Well, balance and you're gonna be able to yeah, have that sense
• 1:15:35
  straight to your Lightning wallet immediately and that's
• 1:15:39
  the way so recurring buy and Lightning coming soon to
• 1:15:42
  Bitcoin. Well, you can go to
• 1:15:43
  bitcoinwell.com. What's your what's your ref code
• 1:15:45
  slash? Simply BTC or something like
• 1:15:47
  that? Whatever it.
• 1:15:48
  Is I think slash Adam is what it was.
• 1:15:50
  Actually you can go. Use that one.
• 1:15:51
  It's simply BTC. Simply BTC.
• 1:15:55
  But definitely, you know, sign up.
• 1:15:58
  We love seeing you guys push us. And I love personally when we've
• 1:16:03
  got simply Bitcoin viewers, you know that like DM me and and
• 1:16:07
  push me harder and say, yo, the apps, you know, doing something
• 1:16:11
  weird. We got to get this fixed.
• 1:16:12
  We're building for you guys. We want to enable independence.
• 1:16:15
  That's our number one goal. And having the support from all
• 1:16:18
  from all you plebs is is number 1.
• 1:16:21
  So thank you all very much. And yeah, let's go team Bitcoin.
• 1:16:25
  Let's go, let's go. Absolutely awesome.
• 1:16:28
  Well, Adam, I know you have to pop off, so we'll just wrap up
• 1:16:31
  today's show. Adam, thank you for coming on
• 1:16:34
  for the audience. Adam.
• 1:16:35
  Yeah, for the audio listeners, let's plug your Twitter and then
• 1:16:39
  we'll wrap it up and we'll see you next time, man.
• 1:16:41
  Yo yeah, Adam O'Brien under score on Twitter or
• 1:16:45
  primal.net/adam on on Noster. Let's go.
• 1:16:50
  All right, Adam. Well, thanks for coming on.
• 1:16:51
  Super excited for everything you guys are doing and about to do.
• 1:16:55
  And now maybe they'll stop complaining so much in the chat
• 1:16:58
  over. Here, no more chat complaining.
• 1:17:01
  Yeah, no, they'll stop yelling at me.
• 1:17:02
  Keep. Keep complaining, just just give
• 1:17:05
  us new things to complain about so we can always be improving.
• 1:17:08
  This is the way. Let's go.
• 1:17:09
  Let's go. All right, Adam.
• 1:17:10
  Well, thank you, bro. Peace out.
• 1:17:12
  We'll see you next time. OK.
• 1:17:15
  Well, choking on my celeb over here.
• 1:17:18
  Opti, is this the after show? Yeah, So hey, look, we're gonna
• 1:17:23
  wrap up right now, but Sophie has been saying that we should
• 1:17:27
  do like an after show, after the show where we just sit here and
• 1:17:30
  talk. But you got because.
• 1:17:31
  That's literally what we do Opti.
• 1:17:33
  Like we we cut, we do the and then Opti and I just sit here
• 1:17:38
  and chat for like 30 minutes. Now, yeah, but I think you guys
• 1:17:41
  would tune out so on that now, Sophie, thank you for coming on
• 1:17:45
  two days in a row. It looks like the chat loves you
• 1:17:48
  more than Nikko. So maybe we got a fire, Nikko.
• 1:17:51
  I don't think so. I don't think so, but I think I
• 1:17:55
  think they're just awestruck by a woman in Bitcoin.
• 1:17:59
  Maybe, maybe there's. Many things out there.
• 1:18:02
  Maybe they get girlfriends this year and they they won't simp so
• 1:18:05
  hard for Sophie over here but. Maybe the number go up,
• 1:18:07
  girlfriends go up, Yes, simping go down.
• 1:18:14
  All right, well, maybe we got to bring you back with Nico on the
• 1:18:17
  show again. We should.
• 1:18:19
  We should. We should do that.
• 1:18:20
  OK, well, so thank you so much for filling in last minute.
• 1:18:24
  We were actually supposed to have Dante on today, but, you
• 1:18:26
  know, shit happens, guys. So we got Sophie, the
• 1:18:28
  illustrious Internet Sophie on today anyway, so thank you so
• 1:18:33
  much. Hang out while I wrap this up.
• 1:18:35
  All right, y'all have a good weekend.
• 1:18:37
  See you Monday. Peace out.
• 1:18:40
  Let's go. All right guys, you already know
• 1:18:41
  the deal. We stream live Monday through
• 1:18:44
  Friday at 12:25. The show goes live at 12:16, but
• 1:18:49
  we used to go live, but you know, a couple minutes late.
• 1:18:51
  You guys can yell at me all you want, whatever, whatever.
• 1:18:54
  Anyways, we love you. Have a good rest of your day.
• 1:18:58
  We'll see you tomorrow. Last stream of the week with
• 1:19:00
  just me and Nikka will be back on Monday.
• 1:19:03
  He is currently in El Salvador at the Plan B forum.
• 1:19:06
  So we're going to get some good content coming out of the
• 1:19:09
  conference, but until then, we'll see you tomorrow and have
• 1:19:13
  a good rest of your day. We love you guys, Peace out.
• 1:19:16
  Today's episode was brought to you by bitcoinwell.com, a
• 1:19:20
  Bitcoin only platform on a mission to enable financial
• 1:19:23
  independence.