Latest / Simply Bitcoin / Michael Saylor: IGNORES FUD BUYS 12,000 BITCOIN | EP 769

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Michael Saylor: IGNORES FUD BUYS 12,000 BITCOIN | EP 769 · Simply Bitcoin

• 0:10
  Yeah, we're gonna simply the coin live.
• 0:11
  We are your number one source for the peaceful Bitcoin
• 0:13
  Revolution color, breaking news culture, Matic Warfare.
• 0:16
  We will be your guide through the separation of money and
• 0:19
  state. Michael sailor is buying all the
• 0:22
  Bitcoin he literally owns after the announcement today that he
• 0:26
  made we're going to cover during the News segment.
• 0:29
  He literally owns one out of every 140.
• 0:34
  Bitcoin will sprinkle sprinkle some more bullishness in there.
• 0:38
  There are 60 or And roughly 60 million millionaires around the
• 0:42
  world and there's only 21 million Bitcoins.
• 0:46
  If every single millionaire around planet Earth wanted to
• 0:49
  buy one Bitcoin. They physically couldn't.
• 0:51
  And now that Michael sailor is literally buying all of it.
• 0:55
  There's not going to be enough to go around.
• 0:57
  Now, we have the Black Rock announcement that just just came
• 1:01
  out. We have the Fidelity
• 1:02
  announcement. We have Fidelity announcing that
• 1:04
  they're launching an Institutional exchange with what
• 1:09
  charge. Swab like the financial services
• 1:11
  company and all of this is happening.
• 1:13
  And in the Chad sailor, just keeps buying all of the Corn.
• 1:19
  So, let's do that math right quick again, right?
• 1:23
  So, in an Ideal World, right? Every millionaire around the
• 1:28
  world, the 60 million of them would have this 21 million
• 1:31
  Bitcoins to buy, right? But there's an estimated five to
• 1:35
  four million lost. Right?
• 1:37
  So you subtract that you know by I'm million around 16 million
• 1:41
  left, right? And then you keep subtracting
• 1:45
  all the corn that Michael sailor.
• 1:46
  Owns all the corn that the that bitcoiners own in Cold Storage,
• 1:50
  all the corn that the miners own and there's really not that much
• 1:54
  Bitcoin to go around the vast majority of Bitcoin is held in
• 1:58
  courts Cold Storage so when the inevitable floodgates happen
• 2:04
  there's really not that much to be sold and this kind of reminds
• 2:08
  me of this tweet. By American hottel that I
• 2:12
  actually I usually don't pull up stuff and the very beginning but
• 2:16
  I kind of want to set the tone for the rest of this episode
• 2:20
  because this made me extremely extremely bullish.
• 2:24
  So I'm actually going to share my screen for a little bit.
• 2:26
  I usually never do this but you know we're going to change up
• 2:29
  the show a little bit. So here's a tweet by American
• 2:32
  hold it says to the people upset with micro strategies Bitcoin
• 2:37
  position size. How are you going to feel when
• 2:40
  the FED announces that, they hold 2.8 million Bitcoin,
• 2:43
  acquired 44.5 to trillion and an average cost of 1.6 million per
• 2:50
  Bitcoin because eventually that is going to happen and we can't
• 2:53
  do anything to stop it. But you know what?
• 2:55
  You can do, stay humble stack SATs and send those SATs into
• 2:59
  cold storage because and then no one can take it away from you.
• 3:04
  And of course, don't sell your Bitcoins in microstrategy the
• 3:08
  Fed. Or BlackRock you definitely want
• 3:10
  to do that. You want to make it over the
• 3:11
  Finish Line with your stack intact.
• 3:14
  Anyways, I want to bring my legendary co-host.
• 3:16
  Always optimistic how you doing Opti, how is Optimus Fields
• 3:19
  doing this morning? I'm doing wonderful, but man,
• 3:25
  Sailors taking all the Bitcoin. What is going on here?
• 3:27
  And then also guys we know we know what his plan is.
• 3:30
  It's holding onto these Bitcoin forever.
• 3:32
  So man, it's like a it's like a black hole of SATs over there
• 3:37
  and sailors Cold Storage. Absolutely insane that he owns.
• 3:41
  What's the numbers one out of every hundred and forty coins.
• 3:44
  Like yes, but but that's divided by 21 million.
• 3:49
  If y'all see / like teen million, maybe you divide it by
• 3:52
  60 million that number is a lot higher.
• 3:54
  Yo I think I think this is the time in the show when we point
• 3:59
  out that I think few people understand what digital scarcity
• 4:03
  really means and how scared to bitcoin actually is, it's going
• 4:08
  to blow people's. Mine's, especially considering
• 4:10
  that all the paper Bitcoin has been cleared out of the market.
• 4:14
  I know, I know I'm sorry I know Nate's been telling me to not
• 4:16
  get stupidly bullish. I think this next Bull Run is
• 4:19
  going to be absolutely marvelous so man hot all them coined.
• 4:23
  Make sure you have your Bitcoin protected and and on that note
• 4:28
  on the culture today someone actually a few people have been
• 4:31
  asking about a few things. One was about running a node and
• 4:35
  the other one was last week, I mentioned having good UTA.
• 4:39
  Hygiene you txo management. So we're going to do one of
• 4:42
  those bits that I always do on the show every once in a while
• 4:45
  about running a node U TX o management and obviously the
• 4:49
  ethical Bitcoin wallets at that I endorse.
• 4:52
  So we're going to go back to some Bitcoin 101 for you new
• 4:55
  guys out here, new new Ladies as well.
• 4:58
  It's going to be an overview. So we'll probably have to get
• 5:02
  more in-depth on other channel or other shows or maybe I'll
• 5:06
  have to push you over to be TC session so that you guys, You
• 5:09
  can get that deep dive on stuff, but I'm going to do an overview
• 5:12
  on running a node Bitcoin wallet and you txl management, backing
• 5:17
  up your keys and all that good stuff for all you new viewers
• 5:20
  out there that are asking us questions.
• 5:22
  So I think it's going to be a great show today.
• 5:24
  Nico, let's go. Absolutely.
• 5:26
  And also it breaking news guys that came out yesterday the news
• 5:30
  and regarding to Prime trust. So we're going to be covering
• 5:32
  that today. We have all the details for you
• 5:35
  guys. Going to be a great show, really
• 5:36
  looking forward to it. It is Wednesday.
• 5:39
  And tonight we have a very special guest.
• 5:41
  We have the one, the only Jimmy song coming on, simply Bitcoin,
• 5:44
  I rail at 5 p.m. Eastern Standard time.
• 5:47
  So I'm really, really excited for that show as well.
• 5:49
  Many ways no more delay. Let's jump straight into
• 5:51
  numbers. Let's do this.
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  The Bitcoin numbers brought to you by novel.
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  So, I hope to see you guys in the flesh at Bitcoin 2024 in
• 7:02
  Nashville, Tennessee, at the time of recording, the Bitcoin,
• 7:04
  price has 30,000 410 SATs per dollar. 3288 block, height 796,
• 7:11
  2209 reachable, Bitcoin node seventeen thousand ninety six
• 7:16
  blocks to having 40 3701 having estimate April, 25th 21st, 20,
• 7:23
  For total lightning network capacity. 5442 Bitcoin, capacity
• 7:28
  value, 165 million, u.s. dollars realized monetary inflation,
• 7:33
  1.75 percent and the market capitalization of Bitcoin five
• 7:37
  hundred ninety billion dollars with a be anyways today I want
• 7:42
  to talk about this guy, Paul Tudor Jones.
• 7:44
  He has an estimated net worth of 7.5 billion u.s. dollars.
• 7:48
  He had this very interesting interview on CNBC, I'm going to
• 7:53
  play you a clip of it and then opting, I will talk about the
• 7:56
  check it out. Bitcoin, they came on our air
• 8:01
  during the early part of the pandemic.
• 8:03
  I think it was trading at eight nine thousand dollars a coin.
• 8:07
  Yeah. And you said I'm in yeah and I
• 8:10
  think you wrote it all the way up to 60 some odd thousand
• 8:13
  dollars. Yeah and we and wrote it back
• 8:16
  down to 15,000 dollars and we're now sitting I think somewhere
• 8:19
  around twenty seven thousand dollars I've never sat on a
• 8:22
  horse that long just just stop, what's that?
• 8:27
  You're still on the horse, though.
• 8:30
  From the beginning of always said, I want to have a small
• 8:32
  allocation to it because it's a great tale of.
• 8:34
  It is the only thing that humans can adjust the supply in.
• 8:39
  So I'm sticking with it. I'm going to always stick with
• 8:43
  it is just a small diversification in my portfolio.
• 8:47
  What do I think right now? I liked it last December.
• 8:51
  I still think? I mean, would you buy more right
• 8:54
  now? What about more?
• 8:56
  I would probably oblique, I'm kind of look it in gold and I
• 9:00
  think They've done so well recently, because of the fact
• 9:08
  that we have had these great risk premiums.
• 9:11
  I wonder wonder wonder whether they may not be boring in the
• 9:17
  future like so big Bitcoin has a real problem because the United
• 9:21
  States, you have entire regulatory apparatus against it.
• 9:24
  So it's just kind of yesterday's news and if inflation is truly
• 9:30
  done a bit, if it's if that if that story's been Played.
• 9:34
  Then you have to wonder we were buying gold and Bitcoin for the
• 9:38
  inflation Hedges. That game may be over.
• 9:41
  I would have, I would in six months ago before a i before the
• 9:48
  possible productivity boost it will give for it.
• 9:50
  I would have saw it said a completely different story with
• 9:55
  regard to inflationary future and with regard to all the
• 10:00
  inflation head in You're staying interesting.
• 10:05
  So a couple things to break down, right?
• 10:07
  The he pointed out something that we've been covering on
• 10:10
  simply Bitcoin for quite a while.
• 10:11
  Now, which is the V, the United States apparatus, the government
• 10:16
  apparatus is, you know, it's hostile towards the industry,
• 10:19
  right? There's kind of two takes on
• 10:21
  that right. Take number one is really
• 10:24
  they're just there. The SEC is upset that the
• 10:27
  Bitcoin and chicoine Industry is playing by a different set of
• 10:31
  tools in the traditional Financial system.
• 10:33
  And then there is the, you know, the the conspiratorial Bitcoin
• 10:39
  paranoid Bitcoin or side of things which is like, obviously
• 10:42
  they're against this because clearly, you know, any
• 10:46
  government would want to be able to maintain their privilege of
• 10:49
  being able to create money for free that everyone else has to
• 10:52
  work for. But there's something else that
• 10:54
  he said there, which I find is really interesting.
• 10:56
  Is why he likes about Bitcoin is that you can't create more of
• 10:59
  it, right? There's a fixed supply of 21
• 11:01
  million and the fact that you have Very, very wealthy
• 11:04
  billionaire saying this tells me that, you know, there's other
• 11:10
  people waking up to this reality.
• 11:12
  And the the CNBC clip that we played you yesterday with Naseem
• 11:18
  to lab where it was actually the CNN BBC reporters that were
• 11:22
  coming to the defense of Bitcoin really shows you where we are in
• 11:26
  the movie, right? If they would have had that
• 11:29
  conversation five years ago, it would have been the CNN.
• 11:32
  NBC reporter. Ders, attacking the Bitcoin
• 11:35
  guest that was being featured on the show.
• 11:37
  Now, it's the exact opposite of that happening.
• 11:40
  And I think that this is a trend that's content that's going to
• 11:43
  continue. I think, you know, other than,
• 11:46
  you know, the narrative that it that, you know, people are
• 11:49
  buying Bitcoin because it's inflation hedge.
• 11:52
  I mean, in the u.s. fine, even if they tamed down inflation,
• 11:56
  right, it's a, we get it back to that 2% magical number, if
• 12:01
  you're in Argentina, Bitcoins making all types.
• 12:03
  I'm highs if you're in Turkey Bitcoins making all-time highs
• 12:06
  right Bitcoin has it's not even it's not even helped as
• 12:12
  inflation hedge. It is the the only viable
• 12:16
  alternative to your local fiat currency, right?
• 12:20
  So I think that's an interesting interesting take.
• 12:22
  I also don't like the fact that he put an equivalence between
• 12:26
  Bitcoin and gold. We know that Bitcoin is better
• 12:29
  than gold because It you know, we don't know how much gold
• 12:35
  there is in the ground. We, there's definitely a bunch
• 12:39
  of gold fly like like flying in outer space.
• 12:42
  Like there's this article or there's this asteroid like a
• 12:44
  trillion dollars worth of gold on it, right.
• 12:47
  There's no asteroids I mean not that I know of that are flying
• 12:50
  flying around outer space with the million, Bitcoin on them.
• 12:54
  So yeah and then not only to mention this right?
• 12:57
  Is that the inflation that gold has an inflation rate and that
• 12:59
  inflation rate is relatively stable because If the price of
• 13:02
  gold goes higher, that that kind of incentivizes gold miners to
• 13:08
  mine harder, right? We're in Bitcoin is completely
• 13:11
  different, right? It doesn't, he doesn't matter
• 13:13
  how much miners invest into the infrastructure or invest in more
• 13:17
  miners. The having is set in stone,
• 13:20
  right? So, like, roughly every Fort
• 13:22
  know, like, basically every four years give or take, you know,
• 13:27
  the, the the amount of Bitcoin being the cell pressure gets cut
• 13:31
  in half. Write the amount of Bitcoin that
• 13:34
  that is rewarded via block, subsidy gets cut in half, right?
• 13:38
  And that's going to happen for the next hundred.
• 13:40
  Something years until the block subsidy runs out.
• 13:43
  So it's completely different than gold in that sense, but at
• 13:47
  the same time I think, you know, we've come a long way we
• 13:49
  sometimes you have to kind of zoom out and see where you are
• 13:54
  in the historical sense, is my seventh year, in Bitcoin, coming
• 13:58
  into a going into my eighth? If you would have told me seven
• 14:01
  years, Is ago that, you know, you would have told me in the
• 14:05
  beginning of, you know, my orange pill Journey.
• 14:07
  You would have told me Nico, seven years from now, you would
• 14:11
  have multiple public companies having holding Bitcoin on their
• 14:15
  balance sheets. You would have a nation-state
• 14:18
  making but no multiple nation states at this point, making
• 14:20
  Bitcoin legal tender. You would have billionaires
• 14:23
  advocating for the strengths of Bitcoin on, you know, Legacy
• 14:27
  corporate media. I would have said your, your I
• 14:31
  would have said, you're Crazy and I would have definitely
• 14:34
  tried to take out more loans back.
• 14:36
  Then to buy more Bitcoin, you know, so hindsight's 20/20 but
• 14:41
  now I've kind of learned my lesson a little bit and the name
• 14:44
  of the game is simple. Make sure that you have more
• 14:47
  Bitcoin than the day before everything else is noise and of
• 14:51
  course take that Bitcoin into self custody you know learn how
• 14:55
  to take self custody, not your keys, not your Bitcoin, you
• 14:58
  know. And then the next step after
• 14:59
  that is you know run. Your own node have trust your
• 15:03
  own copy of the Bitcoin, blockchain run your own version
• 15:06
  of Bitcoin, you know, trust minimize your setup.
• 15:10
  Stop Outsourcing the personal responsibility of the storage of
• 15:12
  your wealth. Anyways, Opti, what's your take
• 15:16
  on this, bro? Well, first, first off, I was
• 15:19
  behind the scenes, but the I call you said of, I wish I would
• 15:23
  have known this. I would have taken out more
• 15:25
  lumps, drag it up. Okay?
• 15:32
  I bought a ton of money by running for my ex-girlfriend max
• 15:35
  out my credit card. This is not Financial backers
• 15:42
  but I think I would have been more aggressive if I knew where
• 15:45
  like how far we would have come you know.
• 15:47
  So anyway cracking me that you're gonna guess it is not
• 15:49
  Financial advice. What what bikini says it best a
• 15:53
  solvent. My friends?
• 15:54
  They sag sad, stay humble, okay stay humble Stacks at stay
• 15:58
  solvent. Yeah, another there's another,
• 16:00
  that's the full meme. That's For me, that's the full
• 16:03
  me, many ways. What are your thoughts after?
• 16:04
  Yeah. So, I mean, hey look, Paul Tudor
• 16:06
  Jones, billionaire, hottel, hudler love to see it, not the
• 16:10
  only billionaire, our Sailors, not the only billionaire hudler
• 16:13
  out there and I mean, he said a few, a lot of interesting stuff
• 16:17
  in that little clip. The first one.
• 16:20
  If you read between the lines, he basically said, Bitcoin is
• 16:22
  the fastest horse in the race and he's going to stay on the
• 16:25
  horse for as long as humanly possible.
• 16:27
  And as an average everyday person that probably doesn't
• 16:31
  have Of as much money as pod, Tudor, Jones to buy ridiculous
• 16:36
  amounts of assets. This is your opportunity to, you
• 16:39
  know, get ahead in life to hold onto something that will
• 16:41
  appreciate going forward. That doesn't get debase.
• 16:44
  Because as we know and we constantly double down on the
• 16:47
  idea and beat the dead horse that you can't save in dollars
• 16:51
  and most people still think they can save and dollars.
• 16:53
  There's still people out there that think that the dollar is
• 16:55
  backed by gold, like this is where we are in the world.
• 16:58
  This is the financial literacy of the average person.
• 17:02
  And this is by Design. But did I hear him correctly in
• 17:06
  saying that a I will stop inflation.
• 17:08
  Like am I hearing things here? Because like I think he said, I
• 17:13
  think he said, like AI is a more interesting investing
• 17:15
  opportunity. I think.
• 17:16
  Okay. All right.
• 17:17
  Yeah. I was I thought he was angling
• 17:20
  that like a, I will stop inflation.
• 17:22
  I was going to say like yeah. Like yeah you know CPI is
• 17:24
  lowering but you can't on print trillions of dollars like it.
• 17:27
  You can't put that cat back in the bag and you Bitcoin is
• 17:33
  inflation. Headshot, we know it is it's
• 17:35
  like we've been talking about all day already, digital
• 17:38
  scarcity, and there is less than 21 million Bitcoins out there
• 17:42
  and you can have a little bit of that pie right now.
• 17:45
  What's the numbers on how many millionaires are there in the
• 17:47
  world Nico? Sixth is roughly 60 million, 60
• 17:50
  million now do the math, 60 million 21 million, they can't
• 17:53
  get a coin. So get you much, less much less
• 17:58
  your piece of the pie. It is like 60 million that that
• 18:01
  are not lost. Lost and then you have to start
• 18:03
  subtracting like microstrategy, you know, subtract another
• 18:05
  150,000 off of that so tracked, like all the, the the Bitcoin
• 18:10
  that Tesla owns like the, the OG ha dollars that are holding
• 18:13
  10,000 Bitcoin that no one knows who they are.
• 18:15
  Right? You know, and all these, you
• 18:17
  know, all these OG bitcoiners I got in very, very, very soon,
• 18:20
  right? Like like, you know, that
• 18:22
  they're holding hundreds of thousands of Bitcoin.
• 18:24
  So there's really not that much Bitcoin to go around and then
• 18:27
  you have these giant institutions.
• 18:29
  And actually heard this being talked about During the, the new
• 18:34
  saw the new show on saw on the Nakamoto Gauntlet it's just
• 18:38
  fucking awesome is joão Carlos. Sorry, Greg Foss and this fund
• 18:42
  manager and of course, Dom and what they said during the show
• 18:46
  was just so fascinating. They basically said that that in
• 18:50
  Bitcoin, it's different than what happens with other assets,
• 18:54
  where the big players actually get in first and then Main
• 18:58
  Street gets in last verses in Bitcoin, it's been the complete
• 19:02
  opposite. It's actually been the
• 19:03
  Grassroots Main Street got in first, and it's Wall Street.
• 19:07
  That's coming in second, it's coming, they're coming in
• 19:09
  behind, right? So you had all this time to, you
• 19:12
  know, stack your ass off and you still have time, right?
• 19:16
  You still have time before you know the you know the what
• 19:19
  happens on a historical sense and of course you know past
• 19:24
  results are not indicative of the future.
• 19:26
  But historically what tends to happen is that Bitcoin moons a
• 19:29
  year six six to nine. After the having.
• 19:33
  Right? So yeah, you got some time.
• 19:36
  You got some, some time to pack your bags for wait.
• 19:39
  Wait wait, wait Nico. Did you just say that Wall
• 19:41
  Street is dumb money? Yes, he did confirm and then
• 19:47
  back to that pot Tudor Jones thing and you kind of brought it
• 19:49
  up as well, you know, relating it to Gold.
• 19:53
  Yes. Bitcoin and gold are both you
• 19:55
  know hard money Warriors in the fight of fight against Keynesian
• 20:00
  economics and modern monetary A theory but as a big corner.
• 20:04
  And I think if you do evaluate them both you know, side by
• 20:08
  side, you come to the conclusion.
• 20:10
  That Bitcoin is the 10x Improvement on gold, like you
• 20:13
  can't. You can't just send gold around
• 20:15
  the world in 10 minutes. You can't store billions and
• 20:17
  millions of dollars of gold in your head, you know?
• 20:20
  Like I think as much as the Boomers out there like to
• 20:25
  conflate the two, yes, I love gold.
• 20:27
  You know I've said it as a joke before my Latino route show My
• 20:32
  whole house, you know, coated in Gold so I'm it going face.
• 20:35
  I'm excited for gold to be demonetized completely.
• 20:39
  We can start using it everywhere, bro.
• 20:41
  So shout out to all the gold bugs out there.
• 20:44
  We are in the same fight, but I really do think that Bitcoin is
• 20:47
  an improvement on gold in the digital world.
• 20:49
  You know, having digital money is, it's more than just useful.
• 20:54
  It is an improvement in money, technology.
• 20:57
  Amen to that. All right, everybody.
• 20:59
  No more delay. Let's jump straight into the
• 21:00
  news. We got a lot to talk about.
• 21:01
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• 21:31
  With ease, use your block stream, Jade with your favorite.
• 21:34
  All its software such as blog stream, green, blue wallet,
• 21:37
  electrum Sparrow, get yourself a block stream Jay today and take
• 21:41
  self custody of your Bitcoin. All right, everybody, I want to
• 21:45
  tell you about the orange, collab.
• 21:46
  They are building the social layer for Bitcoin, as crazy as
• 21:49
  this sounds, without the people Bitcoin is just ones and zeroes.
• 21:52
  Bitcoin is the people Bitcoin is you, it's me, it's Opti it's a
• 21:56
  Toshi, it's Del it's Rustin absolutely killing it.
• 21:59
  On the clips, download the orange pill app for iOS or
• 22:02
  Android and connect with other owners in real life today.
• 22:04
  Find other bitcoiners that live near you and you can go into the
• 22:08
  app totally an on and search for other bitcoiners by common
• 22:11
  interest. Orangeville app is also the
• 22:13
  world's biggest repository for Bitcoin only events.
• 22:15
  If you want to meet other bitcoiners in real life, this is
• 22:18
  the app for you, sign up, through the App Store and you
• 22:20
  can even pay in SATs and of course, opting I appreciate all
• 22:23
  the love and messages that were getting via.
• 22:25
  The orange pill up, I appreciate you guys.
• 22:27
  And anyways, let's get to the news crazy, crazy lot of news
• 22:32
  today, actually. So first, we're going to Enough
• 22:34
  with the Big Kahuna microstrategy is it sweet by
• 22:37
  Michael sailor for audio? Listeners has acquired an
• 22:39
  additional 12333 Bitcoin for 347 million at an average price of
• 22:48
  twenty, eight thousand, one hundred, and thirty six per
• 22:50
  Bitcoin was microstrategy responsible for the Bitcoin
• 22:53
  pump, I don't know, as of June 27, 2023 microstrategy Huddle's,
• 22:59
  150 to 150. 33 Bitcoin, acquired 44.5, 2 billion at an average
• 23:08
  price of twenty nine thousand six hundred and sixty-eight per
• 23:12
  coin. That's right.
• 23:13
  Ladies and gentlemen Michael sailor is in the green.
• 23:17
  This is the beginning of Michael sailor being Vindicated.
• 23:21
  This is the beginning of nine buchelli being Vindicated and
• 23:25
  next cycle, it will be undeniable that microstrategy
• 23:29
  made a very good decision putting Bitcoin on their balance
• 23:33
  sheet as an alternative To fiat currency and it will be
• 23:35
  Vindicated on the nation state level, that 9, boo Kelly's, move
• 23:40
  to make Bitcoin legal tender and also put it on, you know, on the
• 23:45
  on the on the country's treasury was a good move.
• 23:48
  And I suspect, you know, Market forces are going to do with
• 23:51
  Market forces, do and other companies are going to be
• 23:54
  looking over and saying, hey, you know what holding may be
• 23:56
  holding Bitcoins a pretty good idea.
• 23:58
  Could you imagine if your company like apple and you're
• 24:01
  holding billions of dollars of Fiat?
• 24:03
  You're just holding that cash, you know, that's tens of
• 24:08
  millions of dollars that they're losing purchasing power that
• 24:11
  they're losing every single year because of inflation.
• 24:13
  They could be holding Bitcoin, just saying, maybe, maybe it's a
• 24:16
  crazy idea, but I think it's going to become undeniable.
• 24:20
  Anyways, there's a tweet that I came out with this morning, I
• 24:23
  said microstrategy now, owns one out of every hundred and forty
• 24:27
  Bitcoin and I want to show the American Honda one, because I
• 24:31
  think it's very appropriate to repeat myself but I think Worth
• 24:34
  it. And he goes on to say how you're
• 24:37
  going to feel when the FED announces, they hold 2.8 million
• 24:41
  Bitcoin, acquired 44.5 to trillion at an average cost of
• 24:45
  160. 106, 106 hundred 1.6 million per coin because
• 24:53
  eventually, that is going to happen.
• 24:54
  I think all central banks are going to follow suit all roads
• 24:57
  lead to bitcoin. Will we tell you guys this all
• 25:00
  the time? Anyways breaking news, this was
• 25:03
  a pretty big Splash yesterday, crypto firm Prime trust placed
• 25:08
  into receivership. We're going to go through some
• 25:11
  of the key details. It goes on to say the
• 25:12
  receivership request filed in Nevada on Tuesday states that
• 25:16
  Prime trust which was previously a financial infrastructure,
• 25:19
  provider for finance and others owes its clients more than 85
• 25:23
  million dollars in fiat currency with only 3 million available on
• 25:27
  hand. Additionally, the company owes
• 25:29
  sixty nine point five million dollars in crypto and hold
• 25:32
  68.6%. Million dollars in crypto
• 25:35
  assets. This move from Nevada comes only
• 25:38
  days after custodian Bitcoin bit, go withdrew, its bid to
• 25:42
  acquire Prime. Trust it also follows a cease
• 25:45
  and desist order issued by the state which claimed that Pride
• 25:47
  trust was on the verge of insolvency even more.
• 25:51
  Troubling, the filing reveal? I'm trust is operating with a 12
• 25:54
  million Equity deficit and is facing challenges challenges.
• 25:58
  Assessing some of its crypto wallets.
• 26:00
  While Trump Prime trust has entered into agreement with fire
• 26:03
  blocks to Which is crypto Assets in 2020 New Management reverted
• 26:07
  back to a legacy wallet management system in January
• 26:09
  2021 and it was discovered in December 20, 21 that Prime trust
• 26:13
  was able was unable to access these Legacy wallets and the
• 26:16
  cryptocurrencies held within them.
• 26:18
  While Prime trust was unable to access these wallets it is
• 26:21
  alleged The Firm used. Its clients fiat currency
• 26:24
  accounts to purchase crypto to be used for processing crypto.
• 26:27
  Denominated withdraws Prime, trust is efforts to regain
• 26:31
  regain access to crypto wallets while still ongoing.
• 26:34
  Have become have been unsuccessful.
• 26:36
  The receivership aims to appoint a receiver to oversee Prime
• 26:40
  trust operations. Examine its finances and
• 26:43
  determine the best course of action to protect clients
• 26:46
  potentially through Rehabilitation or liquidation.
• 26:50
  Now, let's talk about some of the Bitcoin.
• 26:52
  Only companies that were affected by by this, by this
• 26:58
  were somewhat. I guess you could say, I involve
• 27:02
  some were like, severely Acted. We have strike.
• 27:05
  We have fold, we have Finance. We have Swan and coin b as well.
• 27:11
  Now we're going to go through each how it affected each
• 27:15
  company, which strike it. A strike was still using prime
• 27:18
  trust to do their their debit payments.
• 27:21
  So currently you're not able to purchase purchase Bitcoin, using
• 27:26
  your debit card on strike. Currently that's currently down
• 27:30
  they were using prime trust. Now, in the case, With Swan.
• 27:35
  He, I'm going to read you a tweet by the founder and also
• 27:40
  disclosure to everybody. I currently work at Swan.
• 27:43
  I'm part of the media team over there, and they're a partner of
• 27:46
  the show, but hey, we have to do our jobs as, you know, as I
• 27:51
  would hate, I hate calling myself a journalist Opti.
• 27:54
  We have to do our jobs as as reporting the news as we do on
• 27:58
  simply Bitcoin, and you guys expect us to do this.
• 28:00
  Anyway. So this is a tweet by Corey and
• 28:03
  he Says all Swan Bitcoin customer funds were transferred
• 28:06
  from Prime trust to Fortress and B Ko.
• 28:08
  This is a, this is zero present. There is zero precedent for
• 28:12
  clawback of customer funds from Individual.
• 28:15
  Bankruptcy, bankruptcy remote. Trust accounts.
• 28:18
  It's the whole point, unlike the unsecured creditors of Celsius
• 28:22
  and FTX Swan clients assets have always been held with qualified.
• 28:26
  Custodians client, assets are required by state and federal
• 28:29
  law to be segregated from business operations.
• 28:32
  As always takes Custody, if you can, we have free automatic
• 28:36
  withdraws and tons of Education to help.
• 28:39
  Not to mention as well. You could set up on the would
• 28:42
  draw stuff on the swan side, you can plug in your ex Pub in
• 28:45
  there, you don't and that will prevent address reuse.
• 28:49
  Gigi was was able to develop it for them.
• 28:52
  It's really, really cool stuff. They have automatic withdrawals
• 28:54
  and of course, they encourage self custody, as do we.
• 28:57
  Now, in terms of Fold, It looks like they were able to get out
• 29:01
  on time as well, but it looks like not.
• 29:04
  Everyone was so lucky. Apparently coin B app.
• 29:07
  What was not able to get out on time?
• 29:10
  They were a small Bitcoin exchange they then tweet for
• 29:13
  about a week they came out with an with a message earlier on
• 29:17
  today I'm going to read you some of the thread.
• 29:19
  It goes on to say this is a thread that we would never have
• 29:22
  wanted to write. We've been posting updates on
• 29:25
  our website and an email, but we think it's important to
• 29:27
  communicate directly to bitcoin Twitter about what the prime
• 29:30
  trust meltdown means for coinbase coin bits.
• 29:34
  First to those who hold Bitcoin in custody with prime trust
• 29:36
  whether or not use coin by coin, bids, our hearts goes out to
• 29:39
  you. It's easy for some bitcoiners to
• 29:41
  be dismisses of those who did not self custody all their
• 29:45
  Bitcoin. But there are many reasons,
• 29:47
  people might not have all their Bitcoin and self custody from
• 29:50
  technical understanding to life events compassion is warranted.
• 29:53
  Now, it's a prime, trust P. Prime, trust is a Trust Company.
• 29:56
  There are important distinctions between trust companies Banks
• 29:59
  and crypto exchanges. It goes on to say, well, we'll
• 30:02
  get back to the the trust. Stuff.
• 30:04
  But I'm going to move down to an important announcement here at
• 30:08
  the end. It says, most of the fears of
• 30:13
  coin B apps are currently offline but we are developing
• 30:16
  new Solutions and intend to restore Services.
• 30:18
  Soon this coinbase have a future.
• 30:20
  I mean, coin B have a future. Hell yes, we have lot of
• 30:23
  exciting ideas that will focus even more on self custody and
• 30:26
  Independence. However, will save the details
• 30:28
  for a future thread, but it looks like right now, they're on
• 30:32
  pause now. I really want to Floor.
• 30:34
  The the key differences between the different model of how
• 30:40
  Bitcoin companies are approaching it.
• 30:43
  The model that Swan chose is to keep the brokerage and the
• 30:47
  custodian separate and there is there.
• 30:52
  There's historical precedent for that, right?
• 30:54
  And the historical precedent is, that's how the traditional
• 30:58
  Financial system works, right? And so and you don't Want the
• 31:04
  broker and custodian to be the same because then you, you
• 31:06
  create some situations like Mount cocks.
• 31:09
  You create situations like FTX you want the broker and the
• 31:13
  custodian to be separate. And I also believe that it's
• 31:16
  going to be illegal in the US pretty soon for that.
• 31:19
  Not to be the case because that's how the traditional
• 31:21
  Financial system work, right? And the traditional Financial
• 31:24
  system the broker and custodian are separate legal entities,
• 31:28
  right? So, let's get back to actually
• 31:31
  defining what a broker would have broken.
• 31:33
  Jeez, what a custodian is. So goes on to say, a prime
• 31:36
  broker is the Institute Institution you interact with
• 31:39
  when you pick up the phone or log onto an Internet site and
• 31:42
  place a trade order. Similarly, similarly, it is.
• 31:46
  The broke is the prime broker who will arrange a loan that you
• 31:49
  can use for leverage trading, which is a fancy term for buying
• 31:53
  and selling Financial assets with borrowed.
• 31:54
  Money Prime brokerage has compiled and report your trading
• 31:57
  activity to the taxa Torah, tax Authority, and send your tax
• 32:01
  statements at the end of the year and keep records that can.
• 32:03
  Be used in the case of despair of disputes, the custodian also
• 32:07
  known as a custody provider keeps possession of the assets.
• 32:11
  You can think of the custodian as the safe box to which your
• 32:14
  Prime broker has access, but only with your Express consent.
• 32:18
  And I think that's the really, that's the key word there,
• 32:20
  right? Is that?
• 32:21
  Yes, the broker, you know, they have access to it, but only, if
• 32:25
  you ask permission and then that takes away the moral hazard,
• 32:29
  right? There's a reason that you know,
• 32:31
  that the traditional Financial system, Them separate, right?
• 32:35
  And it's because of the moral hazard.
• 32:36
  You have situations like Mount cocks.
• 32:38
  You have situations like FTX. You have situations like
• 32:41
  Celsius. Not to mention the countless
• 32:43
  others back in the day. When stock certificates were
• 32:47
  printed on paper, custodians used to actually store them
• 32:50
  today. Most storage is handled
• 32:51
  electronically. However, an institution must
• 32:54
  still manage the flow of money between buyers and sellers.
• 32:58
  When you out, when you sell a stock, the custodian transfers,
• 33:01
  the electronic entity representing stock certificates,
• 33:03
  To the buyers account and accepts the cash on your behalf
• 33:07
  from The Cellar. Now, another narrative that I
• 33:10
  hear being flouted on Twitter as well, is this idea of the
• 33:14
  callbacks right? And this would affect a lot of,
• 33:17
  you know, the companies that were involved, whether that's by
• 33:19
  Nance dot u s, if it were to and if it were to in, to effect
• 33:24
  them, it would affect by Nancy would affect bold, it would
• 33:28
  affect strike and potentially it would affect Swan as well.
• 33:32
  Here is a tweet. Came out from Corey earlier on
• 33:35
  today, addressing the, you know, the addressing the clawback
• 33:40
  concern goes on to say, the government would have to get rid
• 33:43
  of all trust companies and A Century Of Trust structure.
• 33:46
  Legal precedent to confiscate assets from individuals and
• 33:49
  companies who had removed their own assets from a legal
• 33:52
  custodian. Also, if there were somehow
• 33:54
  going to be callbacks Swan, would just make our users,
• 33:58
  whole, our share of the assets on Prime trust was small and we
• 34:02
  have plenty of money to cover. Over our share.
• 34:04
  Now at the end of the day, there's there's not that many
• 34:09
  there's not that many qualified custodians right at the moment.
• 34:13
  There's really there's there's a there's one.
• 34:17
  Lots of more competition is coming soon from highly.
• 34:20
  Reputable firms. I suspect you know the fact that
• 34:24
  Wall Street is warming up to this.
• 34:26
  You have you know basically the Hat tip from companies like
• 34:30
  BlackRock and you have the Hat tip from companies like Fidelity
• 34:33
  I think is going To make it, I think it's going to make it a
• 34:36
  lot more attractive, but I think all Bitcoin Brokers are
• 34:40
  eventually going to have to move to a multi-institutional and
• 34:43
  multisig. Some of the companies that I
• 34:45
  have in mind, our anchor, watch Unchained and the upcoming Swan
• 34:49
  Vault and other qualified custodians as well.
• 34:52
  So you know and then at the end of the day there's some products
• 34:56
  right? Whether you know it's the
• 34:58
  advisor product or IRA at Swan that you need a quality you need
• 35:03
  a Defied custodian by law, right?
• 35:05
  So you know, it is what it is with with the prime trust
• 35:09
  situation going happening, how it happened?
• 35:12
  But the good news is that there were some Bitcoin companies that
• 35:16
  it were able to get out on time like fold like Swan like strike.
• 35:20
  Unfortunately. Some apparently did not come out
• 35:23
  on time. But at the end of the day you
• 35:26
  protect yourself from this which is something that we advocate
• 35:29
  for every sale every day on simply Bitcoin is not your keys.
• 35:33
  Not. Coin right?
• 35:34
  You buy Bitcoin, you earn Bitcoin, you mine Bitcoin and
• 35:36
  you take that Bitcoin into self custody, if it's not in self
• 35:39
  custody, it's not really your Bitcoin.
• 35:41
  It's an IOU, right? And now that we have the
• 35:44
  technology to have the ability to take self custody of your
• 35:49
  wealth, very efficiently and very effectively no matter the
• 35:52
  amount, right? That wasn't the case for gold
• 35:55
  because of its physical properties.
• 35:57
  You should be able, you should use that technology, right?
• 36:00
  So learn how to take self custody, check out BTC sessions,
• 36:03
  he has incredible tutorials swan has a bunch of educational
• 36:07
  material as well. We simply we cover it as well,
• 36:10
  right? We tried to tell you guys about
• 36:11
  the ethical Bitcoin wallets that you know how Beauty on calls it,
• 36:16
  right. So yeah, this is a, this is this
• 36:19
  is some crazy stuff will stay on top of it as it develops.
• 36:23
  But again, you know, I think the lesson here is not your keys,
• 36:26
  not your Bitcoin and I don't think there's a good.
• 36:29
  I don't think that there's a good solution to this because
• 36:31
  the the other Bitcoin companies Follow the other different
• 36:35
  model, which is the model of, you know, having the broker and
• 36:40
  custodian the same. You're still trusting them.
• 36:43
  And if they go out of business you're not protected whatsoever,
• 36:47
  right? So and again and in and if the
• 36:52
  you know, if the Bitcoin industry is going to be
• 36:55
  regulated like the traditional Financial system eventually
• 36:59
  legally, those companies are going to be forced to do that as
• 37:02
  well, right? As as is the case with
• 37:04
  everybody, right? Like if you buy you know stocks
• 37:07
  on Robin Hood or if you buy stocks on whatever brokerage,
• 37:13
  they're not holding those stocks.
• 37:15
  A custodian is holding those stocks, right?
• 37:17
  And that was the best way to do it, right?
• 37:20
  It wasn't real, it's not really easy to take self, custody of
• 37:22
  stocks like you're going. They're going to sell you like
• 37:24
  they're going to send you like a physical copy of it.
• 37:26
  It's a lot easier just to keep it on there but with Bitcoin
• 37:29
  it's incredibly easy to take self custody.
• 37:32
  So you know learn how to do it. Take personal responsibility and
• 37:36
  whatever is happening on the outside, whether, you know, a
• 37:40
  country makes Bitcoin illegal and exchanged blows up, you
• 37:44
  know, whatever, whatever the case is, if your Bitcoins and
• 37:47
  self custody, none of this affects you, right?
• 37:50
  So anyways, Opti, what's your take on that?
• 37:52
  Yeah, well, let me Circle back for a minute back to the Sailor
• 37:55
  news. Like dude, I cannot even fathom
• 37:58
  holding 153 k + 4 coins. Like that is absolutely insane
• 38:02
  sailor and or Micro step strategy will be holding more
• 38:07
  Bitcoin than nation states around the world.
• 38:09
  Like that is absolutely crazy when the microstrategy, you
• 38:14
  know, country gets formed. Maybe this is where all the
• 38:18
  other bitcoiners were go. Like man.
• 38:20
  It's just crazy. And then also kind of like a
• 38:23
  little joke that I've been saying for a while now is like
• 38:25
  Del live sailor out stack you guys like you know obviously I
• 38:29
  lol and you don't have the capital of Sailor but do not
• 38:33
  take your foot off the Gasps right now cuz it's not the time
• 38:36
  especially if we have, billing are scooping up so much coin, do
• 38:40
  whatever you can right now as we say all the time, you know, sell
• 38:42
  your chairs work overtime, do, whatever you can to minimize
• 38:46
  your costs so that you can stack as many Bitcoin as possible.
• 38:50
  Because I think you'll be pleasantly happy and we're all
• 38:54
  here for that generational wealth, separating money and
• 38:56
  state and in time the hog lers will be rewarded.
• 39:01
  Okay. Now back to the prime trust
• 39:04
  news, you know. It's absolutely insane.
• 39:06
  This is why we tell you guys every single day that you have
• 39:09
  to take your Bitcoin into Cold Storage ASAP.
• 39:12
  Do not trust these third parties to hold your money.
• 39:15
  This is like literally the reason why Bitcoin was created
• 39:17
  in the first party or as ABO wrote.
• 39:20
  I don't know if you guys have read it yet but you should
• 39:22
  definitely read it. Third parties are security
• 39:24
  holes. So avoid counterparty risk as
• 39:26
  much as possible. Take your money into self
• 39:28
  custody. Again we be Beyond this drum
• 39:32
  every single day. Basically, to ensure that you
• 39:35
  guys out there are protecting yourself because if you don't do
• 39:38
  it, no one else will. So, of course, take your money
• 39:41
  into self custody. And I mean Prime trust, like,
• 39:45
  guys, you had one job to custody the coin and it messed us up by
• 39:50
  losing control of that wallet. Like, for fuck's sake, it's
• 39:54
  absolutely atrocious. But man, I think as a big Corner
• 39:59
  that this is my second bear Market.
• 40:00
  As Nick, I think we can safely say that this bear Market might
• 40:04
  have been the worst one yet. You know.
• 40:06
  A lot of stuff has happened in the past and this one man, it's
• 40:10
  just atrocious, but I think in the long term when the dust does
• 40:15
  settle well, we'll look back at this time and be like this was
• 40:20
  good for Bitcoin now. All Bitcoin companies, moving
• 40:22
  forward, we'll have to figure out the best practices, use less
• 40:27
  third party trust and I think this is good for the Bitcoin
• 40:30
  ecosystem. Or rather, you know, new players
• 40:33
  will come in and do things, right?
• 40:34
  So that this doesn't happen again moving forward.
• 40:37
  I mean, look at what's happened in the past when mt.gox got
• 40:40
  rekt, everyone, you know, readjusted their strategy.
• 40:43
  And now we are here. There's only so many, you know,
• 40:48
  custodial Solutions out there and I think now we will see in
• 40:53
  the next coming years or hopefully sooner that people
• 40:56
  will do this stuff correctly, so that more people don't get
• 40:59
  absolutely wrecked and and so we'll see how bad this Fallout
• 41:02
  is my heart goes out to anyone caught up in this but again this
• 41:06
  is why we continuously tell you guys, take Bitcoin into self,
• 41:09
  custody protect yourself, do not trust someone with your money
• 41:12
  and on the culture, I'm going to run out through this at least
• 41:15
  like a broad overview so that people know, at least some of
• 41:18
  the best practices and then if I have two guys, just let me know
• 41:22
  and we'll dive a little deeper into every little intricacy here
• 41:25
  or, you know, go watch BBC Sessions and Do some education
• 41:30
  work yourself, but man. Anyways, absolutely crazy.
• 41:34
  And, and the death hasn't even settled yet.
• 41:36
  So it just it, we'll see. We'll see how bad this really
• 41:40
  gets. Moving forward, 100%.
• 41:42
  And look, regardless of, you know, regardless of the model of
• 41:46
  the specific exchange, it doesn't change anything.
• 41:49
  Like at the end of the day, you can only be.
• 41:51
  You can only be sure that like, let's say in a perfect world,
• 41:56
  right? You were, you know, you were and
• 41:58
  it's pretty effective in the Legacy Financial system.
• 42:00
  But let's say, you know, qualified custodian, it was
• 42:04
  protected, you have absolutely nothing to worry about.
• 42:07
  I just don't think that there's anything better than self
• 42:09
  custody at the end of the day, right?
• 42:10
  And then, you know, other exchanges like River on in, I
• 42:14
  think River and cash app, right? They have different types of
• 42:18
  models where the, the, the broker-dealer, the the broker
• 42:23
  and custodian are the same, you know, it still creates that
• 42:27
  moral hazard, right? There is no that late, there's
• 42:30
  no legal protections and in those days in those situations.
• 42:33
  So I don't think that there's a perfect.
• 42:36
  I don't think that there's anything better than self
• 42:38
  custody and this in this particular situation, I think
• 42:41
  that if this stuff worries you, I mean, I would even go on to
• 42:44
  say that you should, you just shouldn't have anything on
• 42:48
  exchanges, like, you know, and that's something that we've been
• 42:50
  advocating for since day one. Right, take self custody your,
• 42:55
  buy Bitcoin, earn Bitcoin, you mind Bitcoin, and take that
• 42:57
  Bitcoin into Self custody and then you don't have to worry
• 43:00
  about this stuff and that's something that we will continue
• 43:03
  to advocate for on simply Bitcoin every single day.
• 43:07
  Yeah wait, before you go, I mean, Kyle remember guys, you
• 43:09
  can't print more Bitcoin, do to wash over this problem, take
• 43:13
  Bitcoin into self custody. Yeah, exactly.
• 43:16
  Take Bitcoin into self custody. I think that's the that's the
• 43:19
  big message out of all of this. And yeah, man.
• 43:23
  But anyways, crazy. Crazy stuff.
• 43:25
  Let's jump straight into the culture.
• 43:28
  Segment, we got a lot to talk about.
• 43:32
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• 44:00
  I want to tell you about the Pacific Bitcoin, Festival in Los
• 44:04
  Angeles, California on, October 5th through the 6th.
• 44:07
  It's coming up. It's going to be this year.
• 44:10
  My opinion, this was the one of the best Bitcoin festivals ever
• 44:13
  went to. It was, is it literally in an
• 44:16
  airplane Hangar, it's awesome. The, the, the feech, the
• 44:19
  speaker's already that have already announced that have
• 44:22
  already been announced include Lynn old and Greg Foss.
• 44:25
  Alex gladstein core eclipse in Preston, pish and many many more
• 44:29
  they have a Ask about court you know they have the swan Dome,
• 44:32
  you know, it's awesome. Hey look it's Sophie Sophie's on
• 44:35
  there, you know they got they got food trucks or Angela.
• 44:38
  Let's go. You got tarantula on there as
• 44:40
  well. You got the food trucks.
• 44:43
  You could take advantage of the special promo code simply to get
• 44:46
  yourself a 20% discount to the Pacific Bitcoin Festival.
• 44:50
  I hope to see you guys in the flesh over there.
• 44:52
  Like I said, is one of my favorite one, one of my favorite
• 44:55
  Bitcoin conference, things of the year I definitely definitely
• 44:59
  recommend 22 to make the journey over to La.
• 45:04
  Anyways Opti. What are we covering today?
• 45:06
  Alright guys, so we got a few emails.
• 45:10
  I got a few comments in the chat last week so I'm going to go
• 45:16
  over on what I like to do every once in a while and it is
• 45:20
  basically do some PSA, some good, you txo hygiene, you know,
• 45:24
  name the names of the Bitcoin wallets that I like.
• 45:27
  So we are, you know, doing our best, to hold your And because
• 45:31
  just yelling at you and telling you to take Bitcoin in South
• 45:34
  custody is only half the battle and I know there's a lot of
• 45:37
  options out there and people get confused.
• 45:39
  They you know, they get lost by the get option paralysis.
• 45:43
  So I'm going to go over what I think of just the basics and
• 45:48
  someone asked us in an email, something on the lines, like,
• 45:51
  I'm a boomer. I'm relatively new to bitcoin.
• 45:54
  Can you talk about running a node?
• 45:56
  And then last week I talked about you txo management or
• 46:00
  Would you txo hygiene and if we could cover that and then of
• 46:03
  course while I'm doing all this I'm going to name some of the
• 46:06
  wallets that I think people should be using that I've used
• 46:08
  it. I think are great wallet so that
• 46:10
  we can kind of cover our whole basis.
• 46:12
  Considering that the theme here today is take Bitcoin into self.
• 46:15
  Custody guys, it's not as difficult as you may think it
• 46:18
  is. Yes, there's some jargon, yes,
• 46:20
  it might sound complicated and I will go through this fastened
• 46:24
  and let me know if I need to come back and cover some stuff,
• 46:27
  but it's really it becomes second nature.
• 46:30
  Always say the same thing. I remember when I took Bitcoin
• 46:34
  into self Cassidy my first time did my first transaction, it was
• 46:38
  terrifying but now it's second nature.
• 46:39
  It's like riding a bike and you'll get there.
• 46:42
  So first and foremost, I'm over here on bitcoin dot-org, of
• 46:47
  course, I'm on the download button right here so you can
• 46:50
  download a full known and I think you should be downloading
• 46:54
  it phone. I've been saying this for a
• 46:55
  while now is the time to get all your ducks in a row because when
• 46:59
  the Bull Run comes back, it's going to get absolutely crazy.
• 47:02
  And the easiest way to run a note is just simply by
• 47:05
  downloading Bitcoin core yes you can buy a node?
• 47:08
  Yes not all is one of our sponsors.
• 47:09
  Yes they're starting on and running dojo and Umbro and all
• 47:13
  these other options nowadays. But downloading Bitcoin core is
• 47:17
  almost a rite of passage and you don't really even need that much
• 47:20
  for your computer. Like you don't need to go buy a
• 47:22
  new computer, you can do it on your daily driver, but it is
• 47:26
  kind of best practice to get yourself a, maybe an external.
• 47:30
  Computer. That is only for your Bitcoin
• 47:32
  transactions minimize the attack vectors and there are some
• 47:35
  certain requirements, but basically any computer modern
• 47:39
  computer, even my one of my buddies ski.
• 47:41
  If he always tells me to get a Lenovo ThinkPad before, like 100
• 47:44
  bucks on eBay, and then put a new hard drive in it and you'll
• 47:47
  be good to go. Anyways, all you really need is
• 47:49
  it says s 7 gigabytes of free disk space accessible at a
• 47:53
  minimum, minimum read /. Write speed of 100 megabytes and
• 47:55
  two gigabytes of memory RAM. And that's if you want to Me
• 48:03
  controlling me. All right.
• 48:04
  And that's only if you want to run a phone out guys, you can
• 48:06
  just prune print it out as well. You're still going to be running
• 48:09
  a full node, you just won't be passing along the information to
• 48:12
  anyone else. So alright, least, you know,
• 48:15
  propagating full nodes for other people.
• 48:17
  But guys, the main thing here is, do not forget to verify your
• 48:22
  really signatures. Yes, it says optional, but I
• 48:24
  would say it is almost mandatory that you do this.
• 48:27
  Yes. It might be above your pay
• 48:29
  grade. Yes, you might think it is super
• 48:31
  complicated, but again if I can do it, you can do it as well.
• 48:35
  And I highly recommend you do this, I know I'm Bitcoin core or
• 48:39
  Bitcoin dot-org. It says it is optional but if
• 48:42
  you don't do this you don't know what software you are running on
• 48:44
  your computer and you might run malware and you might wreck
• 48:47
  yourself and people will get your Bitcoin.
• 48:49
  So it does seem labor-intensive and you might seem out of your
• 48:53
  death, but highly recommend. You follow the guide and you do
• 48:57
  this for yourself. If I can do it, you can do it.
• 48:59
  You're just Just going to have to you know, troubleshoot a
• 49:01
  little bit. Okay again I'm running through
• 49:05
  this quick guys so I do have notes over here but simply
• 49:10
  download a Bitcoin core you don't have to pay anything.
• 49:12
  It's just going to take a little while for you to get the initial
• 49:14
  block. Download going almost any
• 49:16
  computer. Nowadays, what you'll be able to
• 49:18
  get yourself a node running today.
• 49:21
  Well, it might take you a little while depending on how good your
• 49:24
  internet is and your computer, you could just go out there and
• 49:27
  buy one, you can build a Raspberry Pi.
• 49:30
  In the few, you know, not all running Dojo start9, I'm brought
• 49:33
  these are all the newer option or my node.
• 49:36
  These are all the Standalone options that you can buy and
• 49:40
  they come in and they're ready to go.
• 49:42
  Okay, the next one here, I just have an article here from
• 49:44
  unchain, what is a Bitcoin Hardware while and what they do?
• 49:48
  The next step I would say is downloading what we like to call
• 49:51
  the ethical Bitcoin wallets. You shouldn't need to give any
• 49:54
  information to download a Bitcoin.
• 49:56
  Wallet just downloaded back. Up your seed phrase, make sure
• 49:59
  the seeds. Raises backed up, doesn't touch
• 50:01
  the internet, put it on steel. Whether that's a bit played for
• 50:04
  just washers from a Home Depot back up your seed phrase.
• 50:09
  You do not want to, just keep it on a piece of paper in your sock
• 50:12
  drawer, but, of course, before you send your life savings over
• 50:17
  to a wallet, whether it's a mobile wallet, whether it's a
• 50:19
  hardware wallet, which a desktop wallet, make sure you send a
• 50:23
  small amount of coin like five dollars or something, and then
• 50:27
  clear the wallet. And then back it up from your
• 50:30
  Recede phrase because then you know that if you do lose the
• 50:33
  wallet on your phone, on your computer, you can always back it
• 50:37
  up and you don't have the possibility of ever losing your
• 50:41
  total life-saving. So, this is a pretty simple
• 50:44
  process. Again, once you go through the,
• 50:46
  the motion, go through the process, you'll understand that,
• 50:49
  okay? This isn't as bad as I thought
• 50:51
  it was, but this are the best practices in.
• 50:54
  This is what you should be doing.
• 50:55
  Now, the wallets I recommend again, I'm not the end-all
• 50:58
  be-all of And while it's, but these are the ones I've used and
• 51:01
  I have tried, again, you as an individual, you've tried while,
• 51:05
  it's that you like that, you recommend to your friends and
• 51:07
  family. And I would highly recommend
• 51:09
  that this is what you do. Don't just take my word for it.
• 51:12
  I've used all these wallets. I've tried all these wallets.
• 51:15
  I have friends that also have tried these wallets and the
• 51:20
  consensus between me and my friends is these are the wallet.
• 51:22
  I like I literally have most of these Wallets on either my phone
• 51:25
  or my computer. So first let's go with The
• 51:30
  mobile wallets. Now mobile wallets are probably
• 51:33
  not the safest for the long term.
• 51:35
  Yes, they're hot wallets meaning.
• 51:37
  That your seed phrase is connected to the internet, but
• 51:40
  you can kind of think of these as checking account.
• 51:42
  If you're going to be sending Bitcoin daily.
• 51:44
  You know you want to move Bitcoin around, it says not for
• 51:47
  a long-term, Cold Storage solution.
• 51:50
  A mobile wallet is good, but hey, a mobile wallet, is better
• 51:53
  than leaving your coin on an exchange.
• 51:55
  So I think, usually most people will go to a mobile wallet on
• 51:58
  their phone and Then take the journey towards a more secure,
• 52:02
  cold storage or multisig setup. But I'm I'll leave the multisig
• 52:06
  set up for later for now though wallets that I like on my phone
• 52:10
  and I think I have all of these all my phone currently is blue
• 52:13
  wallet, green wallet, Moon wallet, Phoenix wallet, Breeze,
• 52:16
  wallet wallet of Satoshi? Yes, this is custodial and
• 52:18
  you're going to throw tomatoes, but it's very good onboarding, A
• 52:22
  lot of people and it just works. And then, of course, nunchuck, I
• 52:25
  haven't fully tried nunchuck yet, guys, I haven't put it
• 52:29
  through the paces. Ali but you can do a multisig
• 52:31
  set up on your phone and it seems to be absolutely killer
• 52:35
  out there. So again I know I'm giving you a
• 52:37
  lot of options right now but this is the point there is trade
• 52:40
  off to all these wallets and I just want to make you aware of
• 52:43
  all the good wallets. Download them, use them yourself
• 52:47
  because again nothing beats personal experience.
• 52:50
  Now, the next move is desktop wallets.
• 52:52
  Of course obviously, I said Bitcoin core Highly recommend
• 52:56
  Bitcoin core and if you are running a desktop wallet on your
• 52:59
  laptop or your computer, you will most likely download
• 53:03
  Bitcoin core. Anyways, maybe it does it on the
• 53:05
  back end and you won't even know.
• 53:06
  But the what the two wallets are actually three, considering that
• 53:09
  Nico loves the third one. I like Specter.
• 53:12
  I like Sparrow and Niko's, a huge advocate of electrum.
• 53:16
  So those are the four desktop Wallace.
• 53:19
  I would highly recommend, you can look into them, you can do
• 53:21
  the trade off, whatever, whatever you need to do, to
• 53:23
  personally, Personalized, what's going on over here?
• 53:27
  And then the hardware signing devices aka the hardware wallet.
• 53:30
  As you can see over here on unchain the ones that I like
• 53:34
  again. I'm not the end all, be all of
• 53:36
  the wallet, you know, connoisseurs over here.
• 53:38
  But the ones that I use the ones that I love the ones that I
• 53:40
  literally have in my drawer behind me.
• 53:44
  Some are used most aren't is Jade.
• 53:48
  Obviously, they're one of our sponsors for the price point.
• 53:51
  It might be one of the best for the price point.
• 53:53
  It's $50 the next. Cold card and passport or
• 53:57
  Foundation passport? Yes, I know there's some
• 53:59
  contention. There's some rivalry there but
• 54:01
  these are probably the industry standard.
• 54:04
  The code card is like by far. Most bitcoiners favorite wallet
• 54:07
  or Hardware wallet out there. They keep updating they've got
• 54:10
  really cool colors. Now the foundation's passport is
• 54:14
  one of my personal friends, favorite wallet shots at the
• 54:17
  she. And then I think the unsung hero
• 54:19
  is seed signer, you can get an off the wall or off the shelf
• 54:23
  Parts, build yourself a wallet. I think this one might be the
• 54:26
  most universal wallet, you can get this everywhere.
• 54:29
  If you're concerned about giving a Bitcoin company your address,
• 54:32
  maybe go by the off-the-shelf part for a seed signer.
• 54:36
  And even one of our old sponsors the bit box, Bitcoin only
• 54:39
  Edition and I know Nico still recommends, the treasure for you
• 54:43
  know just some daily driver stuff.
• 54:45
  Maybe there's some contention about it being a cold storage
• 54:48
  long-term solution. So there is trade-offs here but
• 54:52
  I highly recommend that you look into To this yourself and these
• 54:56
  are the wallets that you want to use.
• 54:59
  Nico, did you want to jump in here?
• 55:01
  Yeah, dude. First of all great fucking job
• 55:03
  and that, hold on I'm not done yet, but okay, but also
• 55:06
  breaking. We have to get to the breaking
• 55:08
  news. Shut up apparently.
• 55:11
  So some sources, some sources have revealed that Optimus feels
• 55:16
  dumped Chrissy because she wouldn't run her own node.
• 55:19
  Is that true hoppy can't? I will plead the fifth.
• 55:22
  I will flee. The fit.
• 55:23
  Is there truth to that? Yes, will say yes for a PC.
• 55:29
  Friendly show, yes. Okay, alright, enough, trolling
• 55:31
  me, Nico. Alright, the last portion of
• 55:34
  today's show is you T XO management.
• 55:38
  And as we saw a couple of months ago, with this whole wizard
• 55:42
  ordinal, sing there is potentially going to be a high
• 55:46
  fee environment, moving forward, and what you tick, so management
• 55:50
  means is simply just consolidating, UT EXO's.
• 55:53
  You do not want a bunch of tiny you too.
• 55:55
  EXO's or what? You might think Bitcoins are,
• 55:57
  they're literally, they're just you to EXO's.
• 55:59
  Or as you can see here on the screen shots at the wicked, he
• 56:03
  puts out a lot of great threads like gold, Bitcoin comes in
• 56:05
  different sized chunks. These chunks are called UT EXO's
• 56:08
  or unspent transaction outputs. That's what you're holding in.
• 56:12
  Your Bitcoin. Wallet is just a bunch of
• 56:14
  unspent, transaction outputs, unlike gold all Bitcoin UT EXO's
• 56:17
  have an equal weight when spending them.
• 56:19
  So it cost the same amount and fees to spend a small you txo as
• 56:22
  it costs to spend a large UT Excel.
• 56:24
  And when You pile up a bunch of small utx cells.
• 56:27
  You might be hit with a bigger fee than you thought you were.
• 56:32
  So here's a comment right here like to add that consolidating
• 56:35
  you txo just like melting those chunks together into one big
• 56:38
  chunk, but you have to pay a transaction fee for every chunk
• 56:40
  you want to to smell Wicked response precisely and in a high
• 56:44
  fee environment, it might end up costing more to melt smaller
• 56:47
  chunks together than they're actually worth.
• 56:49
  This is why it's important to practice good, you txo
• 56:51
  management and consolidate your smaller ones whenever fees go
• 56:54
  down. Now, the mempool is it starting
• 56:57
  to clear out there's reasonable fees out there.
• 56:59
  So right now might be a good time to consolidate some UT
• 57:02
  EXO's. Get some good.
• 57:04
  You txo hygiene going. And the next question is
• 57:07
  usually, what are how big should my utx OSB.
• 57:11
  I think the common heuristic is basically get it above the dust
• 57:15
  limit. You still don't want it.
• 57:16
  That smart think the dust limit right now is around, like 545
• 57:20
  Schatz, it might have changed recently, but that's what I
• 57:23
  remember, it was Again, there is no tried and true science.
• 57:27
  Here it is a little more of art. But again, using wicked as a
• 57:31
  source right, here he goes. What percentage of my total BTC
• 57:34
  held in my Hardware wallet? Do you recommend each you txo to
• 57:37
  be? For example if I have ten BTC,
• 57:40
  should I have ten UT EXO's of one BTC and we could respond.
• 57:44
  There are two main considerations, how much you're
• 57:46
  willing to pay in fees in the future and how quickly you're
• 57:48
  planning to spend that. You T XO and I would add a third
• 57:51
  one considering private implicate implement Clement
• 57:56
  implication. Sorry, wrong word.
• 57:58
  You do not want, just a bunch of huge.
• 57:59
  You tick size if you are spending little tiny chunks
• 58:02
  because maybe you don't want a doctor holding in 1u t, XO say
• 58:06
  you have a, you know, 10 b t, CU T XL and you're just spending a
• 58:10
  hundred thousand stats here, there may be, the person you're
• 58:13
  sending your SATs to you don't want them to know, you're
• 58:16
  holding 10 B, TC. I don't know.
• 58:18
  This is something you're going to have to consider.
• 58:20
  So having fewer UT excels with generally mean, you pay less and
• 58:23
  fees when you eventually In your Bitcoin.
• 58:26
  But if you're planning to spend it soon, then only having really
• 58:28
  large UT EXO's. This pain could be a risk like
• 58:30
  paying for a candy bar by pulling out a kilo of gold and
• 58:34
  shaving off a little flake. If you're not planning on
• 58:36
  spending any time soon, then I expect better privacy, layers to
• 58:39
  emerge in the next few years, which will make this concern
• 58:42
  with privacy irrelevant. Since all spending will be coin
• 58:44
  joined by default. So again, if you have one whole
• 58:50
  coin, 100 million SATs, you know, you're going to have to Do
• 58:55
  this for yourself, ask yourself what you want to do, maybe you
• 58:58
  have, you know, a 50 million sat UT x 0 and a couple of 10
• 59:01
  million UT EXO's and maybe like a five million 1 million.
• 59:05
  Depending on what your spending habits will be condemned
• 59:09
  depending on what you're doing, whether it is long-term storage,
• 59:12
  whether it's going to be some short-term spending cash, maybe
• 59:15
  you just want to flex on people and be a part of the like I own
• 59:18
  one whole coin so you put it into one u t x0.
• 59:21
  So you can be a part of the the chain analysis about X amount
• 59:25
  of, you know, Bitcoin, one Bitcoin holders.
• 59:28
  Again, there's trade-offs to all of this and just don't do
• 59:32
  anything stupid, guys. You're going to have to think
• 59:36
  about this for yourself. Take the risk for yourself.
• 59:38
  There's trade-offs to all of this, but I think breaking down
• 59:41
  some, you ticks, I was, is recommended whether that's 10
• 59:44
  million 5 million 1 million UT X Os or, you know, 10 million
• 59:49
  Bitcoin transactions. Again, I went over this kind of
• 59:53
  kind of super fast. But at the very end of the day,
• 59:58
  it is all about taking your Bitcoin into self custody and
• 1:00:02
  you're going to have to ask yourself what trade-offs are
• 1:00:06
  willing to do. But you have the tools today
• 1:00:09
  where you don't have to trust, anyone run a note for yourself,
• 1:00:13
  take Bitcoin into self, custody with a wallet that you have the
• 1:00:17
  seed backed up for. And then from there that you can
• 1:00:20
  have some mobile wallets. You can have some Hardware while
• 1:00:22
  as you can have some desktop wallets but Also you know, make
• 1:00:26
  sure your seed phrase is backed up so that you never catch
• 1:00:29
  yourself in a situation where you lose your wallet or your
• 1:00:31
  house burns down, you know, like there's a lot of things to
• 1:00:35
  consider here but once you do it a couple times, it's second
• 1:00:39
  nature and it won't be as terrifying as it was before.
• 1:00:42
  So I hope I gave you a basic overview.
• 1:00:45
  Again if I need to come back and give you a little more detail
• 1:00:48
  into every little niche, I will do that.
• 1:00:51
  Just let me know and or you know go check out BTC sessions or
• 1:00:54
  boy. Our boy been over there has all
• 1:00:57
  kinds of educational content. There's a bunch of educational
• 1:00:59
  content that will lead you down this.
• 1:01:01
  But hey, and what, 10, 15 minutes, I gave you the basics
• 1:01:05
  and you can go off and understand that.
• 1:01:07
  Okay, I am at least well prepared on the overview of what
• 1:01:11
  I need to do. Anyways, Nico, what's your
• 1:01:14
  thoughts on this? Yeah, so first of all, we got a,
• 1:01:17
  we got a comment. Kenneth raise is asking why?
• 1:01:21
  Why does it require fee to self custody?
• 1:01:24
  It does not. So, On offers free fees they
• 1:01:26
  don't charge you. Well maybe maybe they're talking
• 1:01:28
  about like a fee on the blockchain to get their
• 1:01:31
  transaction. Oh yeah still it's completely
• 1:01:34
  free. So on so on.
• 1:01:36
  No no I mean in general I think in general you're paying the
• 1:01:39
  miners. Yeah, you're paying their pain,
• 1:01:41
  the network brother, you making the network stronger, right?
• 1:01:43
  You know, like the miners are going to work for free, right?
• 1:01:46
  So if that you know, depending on what we're, what angle,
• 1:01:50
  you're asking that question, I think Opti did a great job.
• 1:01:54
  I think it's a lot. Easier than people perceive this
• 1:01:57
  to be. And I think that perception
• 1:02:00
  comes from the fact that most people have been living in the
• 1:02:02
  Fiat Matrix, the majority of their lives once you fully
• 1:02:06
  transitioned to a Bitcoin standard and I promise you I
• 1:02:08
  swear to God it is a hundred times easier than opening a bank
• 1:02:12
  account sending a wire and all that fucking bullshit.
• 1:02:14
  They make you go through takes 2 minutes if that's like it.
• 1:02:18
  Once you kind of get your head around it and it's so much
• 1:02:22
  easier like five years ago. So, it was pretty.
• 1:02:25
  Fucking difficult. Like there's amazing Bitcoin
• 1:02:27
  companies that are trying to solve a lot of these problems
• 1:02:30
  making Bitcoin easy to use making stuff custody easy to
• 1:02:33
  use. Yeah, at this point, you have no
• 1:02:36
  excuse, you have absolutely no excuse, right?
• 1:02:39
  Should definitely, you know, try to run your own node.
• 1:02:41
  I don't think it's that hard and then download one of the many
• 1:02:45
  ethical Bitcoin wallets. There's so many to choose from
• 1:02:48
  Opti I just found out is a sparrow Maxie.
• 1:02:51
  I lovely. It's so nice.
• 1:02:53
  I'm an Electra Max. I love electrum, you know.
• 1:02:57
  But again, whatever it didn't then there's Spector spector's.
• 1:02:59
  Freaking awesome. I love the guys over there.
• 1:03:01
  Shout out. Hey, hey, wait, Myka.
• 1:03:02
  I don't mean to cut you off, but can we get a few of these
• 1:03:04
  questions answered? As a for people?
• 1:03:06
  So hammer, solid great advice. He goes, can consolidate between
• 1:03:09
  any two while. It's, you control your just
• 1:03:11
  sending BTC to yourself. I think that's a good little
• 1:03:13
  PSA. And we had one question up here
• 1:03:16
  that I want to cover and he goes, do you.
• 1:03:19
  This is Jordan, says, do you need to run an Ode to
• 1:03:21
  consolidate your YouTube videos? Know you don't but best This is
• 1:03:25
  verify Bitcoin for yourself running.
• 1:03:27
  No. But you don't have to, bro.
• 1:03:28
  It just, it's just sending Bitcoin to yourself, basically,
• 1:03:33
  100% 100% it literally. And I do recommend it, by the
• 1:03:38
  way, every once in a while to consolidate.
• 1:03:42
  I think it's good practice. But again, guys, I think the,
• 1:03:46
  you know, it is, it is never been a better time to learn how
• 1:03:51
  to run your own know you could buy one that's already pre-made.
• 1:03:54
  You could. We plug and play.
• 1:03:56
  There's never been a better time to learn how to, take self
• 1:03:58
  custody. There's so many good wallets out
• 1:04:01
  there. Obviously, we're a fan of Jade.
• 1:04:03
  We're also a fan of cold card. We also found a foundation, also
• 1:04:06
  fan of treasure, and I'm going to say, I still like Ledger.
• 1:04:11
  I think Ledger makes it very fucking easy for people to use.
• 1:04:13
  Ledge alive though. Don't use Ledger lie.
• 1:04:16
  This is true. So yeah, you know, just at this
• 1:04:20
  point, you know, by the hardware wallet that you know, that that
• 1:04:25
  You that, you know, fits fits your technical know-how
• 1:04:29
  obviously if your Bitcoin or you've been here for a while you
• 1:04:32
  know, you're on the hardcore. I want my shit to be open
• 1:04:36
  source. I want to know what the fuck is
• 1:04:37
  on my Hardware wallet but then you know, but again is that is
• 1:04:42
  that it as easy for someone kind of getting into the field and
• 1:04:46
  that's something that, you know, that's something that I think
• 1:04:48
  has to be handled on an individual basis.
• 1:04:52
  But you know, what Opti said, our boy BTC?
• 1:04:55
  Sessions as an amazing catalog of tutorials covering every
• 1:04:59
  single one. Every single one of those, those
• 1:05:03
  we should have been on the show. We should do a culture segment
• 1:05:06
  on Ben. Yeah, I agree and and and guys
• 1:05:08
  it's really just like exposure. It seems scary at first Arie.
• 1:05:13
  I can literally remember the first time I sent a Bitcoin
• 1:05:15
  transaction and that was what, five, six years ago now.
• 1:05:19
  And now it's just like, it's second nature, it's easy as
• 1:05:21
  sending an email man. It's just like, there's a Total
• 1:05:25
  learning curve that you'll have to get to but after a few couple
• 1:05:28
  of them, this becomes second nature.
• 1:05:30
  It's like riding a bicycle, 100% 100%.
• 1:05:34
  Anyways, Opti before we before I'm confused, I told people did
• 1:05:44
  I tell people about bit plates Did I tell people about paper
• 1:05:48
  plates, guys? Have you heard about bit plates?
• 1:05:50
  I don't think you guys have heard about bit plates and you
• 1:05:53
  want to make it over the line with your generational wealth
• 1:05:55
  and there's no better place to do it then, the bit plates,
• 1:05:58
  Domino, you don't want to store your Bitcoin wallet.
• 1:06:01
  Back up seed words or pass phrases on paper.
• 1:06:05
  You want to store them on steel. This is the bit plates.
• 1:06:08
  Domino, it's designed to preserve Bitcoin wallet.
• 1:06:10
  Back up, seed words and passphrases.
• 1:06:13
  It's easy to use hard to destroy made from highly Assistant 316
• 1:06:18
  marine grade stainless steel and it offers the ultimate
• 1:06:21
  protection against extremes of temperatures.
• 1:06:24
  You could take advantage of the promo code simply to get
• 1:06:28
  yourself a 10% discount. Anything on the bit plates.com
• 1:06:32
  website, guys, this is awesome again you want to properly,
• 1:06:35
  backup your generational wealth. Don't put your 24 words on
• 1:06:40
  paper, put it on steel. Check out the bit plates.
• 1:06:42
  Domino. Anyways, everybody.
• 1:06:44
  No more delay. It is time for good.
• 1:06:47
  Boom. The daily meme review, brought
• 1:06:53
  to you by Kaboom racks. I get this question all the
• 1:06:55
  time. Nico.
• 1:06:56
  Where should I buy Bitcoin? Miners to answer is Kaboom
• 1:06:59
  racks. It's the best place to buy
• 1:07:01
  Bitcoin miners. That's where you're going to
• 1:07:02
  find the best deals and the best prices start.
• 1:07:05
  Your mining Utopia today to check out their racks.
• 1:07:08
  You got to go to T dot me, slash Kaboom racks.
• 1:07:11
  Join their telegram group and start your mining Journey today.
• 1:07:15
  Kaboom racks. The slap on the Asic, the
• 1:07:21
  slapping the state gets me every time.
• 1:07:22
  Give Max. All right, you already know the
• 1:07:25
  deal. This is the mean review.
• 1:07:26
  This is your favorite portion of the show where you tag us on
• 1:07:30
  Twitter with memes app, simply Bitcoin TB, or drop them in our
• 1:07:34
  telegram group and I will do my best to get to them.
• 1:07:38
  There's a lot of messages in there.
• 1:07:39
  Now, we're almost at 1000 people in our telegram.
• 1:07:41
  Yeah. Wait, wait, wait, wait.
• 1:07:42
  We haven't chilled or Telegram in a very long time.
• 1:07:45
  It's true, guys. Join simply Bitcoins telegram
• 1:07:48
  group. It's absolutely free.
• 1:07:49
  It's a party in there. We're up to 911, people.
• 1:07:53
  Shout out to Darth Darth, Darth coin for holding it down.
• 1:07:57
  He holds a the telegram equivalent to Twitter spaces
• 1:08:01
  every weekend. So definitely join to join the
• 1:08:04
  simply Bitcoin telegram. Go group, you got to go to T dot
• 1:08:07
  me slash simply Bitcoin TV. Like Opti said, it's absolutely
• 1:08:11
  free. It's a party in there.
• 1:08:13
  Definitely, definitely check it out.
• 1:08:15
  Love it. All right, guys.
• 1:08:17
  Well, as we say every single day, tweet to the bullets memes,
• 1:08:20
  really artillery. We are in an information War
• 1:08:23
  right now and it's never been more important to spread the
• 1:08:25
  truth spread the signal. Make sure you are getting your
• 1:08:29
  friends and families morale up by sending them funding memes,
• 1:08:33
  so they can continue stacking. And then also, it causes of
• 1:08:36
  actions, you know, getting people to hold Bitcoin in
• 1:08:39
  wallets and cell custody, getting people to Stacks at all
• 1:08:42
  that good stuff. It does move the needle because
• 1:08:46
  people, Don't have the attention span, they used to and the
• 1:08:48
  bite-size. Palatable information that memes
• 1:08:52
  are hey, it got us all here. So it's going to get more people
• 1:08:56
  on the Bitcoin standard. Anyways, this first meme is by
• 1:08:58
  the Bitcoin conference and he goes, when no Corner friends.
• 1:09:01
  Say they are too late to bitcoin, this might change their
• 1:09:03
  minds, and there is just a bell curve, and this is the adoption
• 1:09:07
  curve cycle and it goes 2.5 percentage.
• 1:09:09
  Innovators 13.5% is early adopters 34% is the early
• 1:09:13
  majority 34%, is the late majority, and 16% the last
• 1:09:17
  Sixteen percent will be the laggards.
• 1:09:19
  And there's just an arrow pointing down at the 2.5%.
• 1:09:23
  The 13.5%, the innovators to early adopters and goes 200
• 1:09:27
  million Bitcoin. Users is 2.5 percent of the
• 1:09:30
  world's population. And honestly, personally, I
• 1:09:33
  think this might even be a little high, but you're still
• 1:09:36
  early. This is still so early in the
• 1:09:38
  game of Bitcoin. Don't let anyone tell you.
• 1:09:40
  Otherwise, I am convinced of it. Anyways, this next meme is by
• 1:09:43
  the having party MF, and he does.
• 1:09:46
  Don't let Ation price you out of your goals hashtag Bitcoin.
• 1:09:50
  And we got the crowded chair here where he's you know changed
• 1:09:53
  my mind but it's got Dorian. Nakamoto is head on top of it
• 1:09:56
  and he's holding a Bitcoin mug and he goes Millennials will not
• 1:09:59
  be able to afford retirement without Bitcoin.
• 1:10:01
  Change my mind, change my mind about this, I am fully convinced
• 1:10:05
  of this as well. Wait, breaking news, we just hit
• 1:10:07
  100 likes on the livestream. Appreciate you all.
• 1:10:10
  Smash that like button. Keep smashing it.
• 1:10:12
  Keep smashing. It, let's go.
• 1:10:14
  Okay, this next one is by the beach, to cease PTC therapist.
• 1:10:17
  And he goes, all of this happened in two weeks.
• 1:10:21
  Hashtag BTC. And we got the classic, you
• 1:10:24
  know, boyfriend looking at the cute girl, looking at the girl
• 1:10:27
  in the red dress away and the girlfriends, you know, concerned
• 1:10:30
  in man and we have bitwise Citadel.
• 1:10:33
  Charles Schwab Santander, Invesco, Fidelity, Valkyrie
• 1:10:37
  BlackRock, wisdomtree Deutsche Bank, and they're all looking at
• 1:10:40
  Bitcoin. And the Mad girlfriend is us.
• 1:10:44
  Treasuries, I'm just surprised that you could pronounce
• 1:10:47
  Deutsche Bank, Deutsche Bank better than sent them dead.
• 1:10:49
  I'm tempted to say that shit. Alright, anyways anyway, Max
• 1:10:54
  meme is by Sally AK at dawn underscore T Cell on 20 opt.
• 1:11:00
  He's not really Mexican, he's damn whitewash Mexican, okay?
• 1:11:04
  Alright, and we got Celli here and he goes, he's got, you know,
• 1:11:08
  this is the play on the Charlie Day, connecting the dots and he
• 1:11:11
  goes, Cbc's connecting the food sword shortages, which are
• 1:11:15
  connecting to depopulation, which is connected.
• 1:11:17
  The world economic forum, and it's all connected to the banks
• 1:11:20
  and it's Ellie freaking out. And then his wife opens the door
• 1:11:23
  and goes, we don't have enough Bitcoin.
• 1:11:25
  Do we know you do not have enough Bitcoin?
• 1:11:28
  All right, this one, there is a, there is an audio aspect to
• 1:11:32
  this, but for the sake of some time, this is BTC pins and you
• 1:11:35
  guys can see the visuals. It goes, my favorite kind of
• 1:11:38
  Bitcoin is summed up in one gift and it's this Funny-looking a
• 1:11:43
  funny dress guy over here with the helmet, on a green screen
• 1:11:47
  and someone throws a box in the box of shit coins.
• 1:11:49
  And he just kicks the Box away. Bitcoin only this is the way
• 1:11:53
  okay, this next meme is by Maxis club and I really felt this one
• 1:11:57
  because we are all Micro Niche celebrities over here in the
• 1:12:00
  Bitcoin space and he goes for 40 my portfolio and it's the
• 1:12:03
  classic car making a swerve on the freeway the right, the hard
• 1:12:09
  rights were and going straight. Is a well-paying job and the
• 1:12:14
  hard curve to the right is six likes and it's because Bitcoin
• 1:12:17
  mean creators about that one. Felt that one, okay?
• 1:12:21
  This last one shuts out the count Bitcoin because he was
• 1:12:24
  trolling me this week, I always said that I never checked the
• 1:12:27
  Bitcoin price yet. I checked the Bitcoin price
• 1:12:29
  every single day for you guys, but I never check.
• 1:12:32
  Check it outside of just giving you guys a historical time stamp
• 1:12:36
  on the simply Bitcoin spaces or the show.
• 1:12:39
  Anyways, count Bitcoin goes some bullshit.
• 1:12:43
  Okay, I mostly don't check it only when it's pumping and you
• 1:12:47
  guys are freaking out about it on Twitter, do I take the price
• 1:12:50
  off the off? The first thing he does when he
• 1:12:52
  wakes up. So 90 leave read of selfie for
• 1:12:56
  Nico and then he checks the price.
• 1:12:59
  That's what he does. Every every day she's okay.
• 1:13:02
  All right, go back, go back to the meme.
• 1:13:03
  Go back to the name. So this count Bitcoin ago when
• 1:13:06
  someone says, I don't check the Bitcoin price and we got this
• 1:13:09
  lady right here and goes. Liar, liar and Nika goes, is
• 1:13:12
  that Christian? The gift.
• 1:13:14
  Oh man, double-double rag. She looks up.
• 1:13:18
  Alright, okay, alright. Well, drop, you mean if you
• 1:13:21
  score in the chat way, like Jada, Jada Obviously Opti
• 1:13:26
  whitewash Mexican. So disappointed oof.
• 1:13:29
  All right, hold on. I got it for you.
• 1:13:30
  One second. One second.
• 1:13:31
  Hey, Laden lot. Just for just so, you know, just
• 1:13:37
  so, you know, YouTube, the Latin jokes are okay.
• 1:13:40
  Because I'm, hey, where Latinos, we can say this about ourselves.
• 1:13:43
  We could say, this about ourselves.
• 1:13:45
  Anyways, anyway, just wanted to get that out there.
• 1:13:48
  All right, everybody Opti. Wait, we didn't give it a 400.
• 1:13:54
  Yeah, my score. My mean review.
• 1:13:56
  Score is this? That's it.
• 1:13:59
  Have the size 64-ounce. Stainless steel water container
• 1:14:07
  because I got absolutely terrified in our spaces and
• 1:14:10
  they're telling me that all plastic water bottles are
• 1:14:13
  killing me. So it's true.
• 1:14:15
  Stainless steel water container 64-ounce.
• 1:14:19
  Okay, okay, yeah, but what are you drinking right now?
• 1:14:24
  It's not the best, but I just got a water filter coming.
• 1:14:26
  Good, I'm going to give it this DeWalt box cutter.
• 1:14:33
  This is looks very intense, right?
• 1:14:34
  Like that's that's a data. Are you, are you transitioning
• 1:14:38
  into a construction worker now? No, it's for like, the UPS pot
• 1:14:43
  like the Amazon boxes. It's like, you gotta just, I
• 1:14:48
  drive. You mean really score in the
• 1:14:49
  chat while? Troll him.
• 1:14:50
  Wait, that one. You literally have the best
• 1:14:53
  Appraiser for just opening boxes at your house.
• 1:14:56
  I think it was here. I think it was.
• 1:14:58
  He like here when I moved in? Like, I don't know where this
• 1:15:00
  came from. I have no idea where, no man, I
• 1:15:04
  don't know. But it is like intense.
• 1:15:05
  It's like look like I got a box cutter, you know, like the real
• 1:15:11
  thing. It's a real deal.
• 1:15:12
  All right, let me see, let me see if some of these there's a
• 1:15:17
  question. Is each basic minor a note?
• 1:15:20
  No, they are not. Okay, we got one.
• 1:15:24
  Wait, hold on. There is another another
• 1:15:26
  question while we're waiting for some Steve as how much our Jade
• 1:15:30
  right now, they're like 50 bucks bro.
• 1:15:33
  Yeah, 50 bucks. Okay, we got a few, a few, what?
• 1:15:37
  We got one, we got one so far, but you need a hold on, you put
• 1:15:41
  the music on. You need to put the music on
• 1:15:42
  it's coming in, it's coming. No, no music today.
• 1:15:46
  Music. Okay, I hammer saw I give this
• 1:15:49
  scores institutional demand, printing, those big green
• 1:15:52
  candles. All right, next one by Gemma
• 1:15:55
  Seco, I give it a copper water bottle with the central water in
• 1:15:58
  it. Oh man.
• 1:16:01
  Is it that that's the key right there.
• 1:16:03
  That's, that's some real shit. You txo my memes.
• 1:16:06
  My room review score is a 16 pack of 5-gallon water
• 1:16:10
  containers. Okay, then I started a theme
• 1:16:12
  here. Everyone is concerned about
• 1:16:14
  their water knows. It's good.
• 1:16:17
  This the theme of today's episode, take self, custody
• 1:16:20
  running down and make sure that good water Elaine sailor.
• 1:16:26
  Leave some Bitcoin for the plebs.
• 1:16:28
  Amen to that. Amen to that j-dub the lake or
• 1:16:31
  21 Mill opt. He's revoked Mexico.
• 1:16:34
  Hey just because my Spanish is trash.
• 1:16:36
  Doesn't mean, I wasn't born in Mexico.
• 1:16:38
  All right. This is true.
• 1:16:41
  This is true. All right, next one we got,
• 1:16:45
  that's hold on, hold on. - all right everybody.
• 1:16:54
  That's what that was a fun show, guys.
• 1:16:55
  Thank you so much for joining us on simply Bitcoin live.
• 1:16:58
  I'm your host Nico. This is my awesome co-host.
• 1:17:01
  Opti, if you guys enjoyed the show, you know, to do, smash
• 1:17:03
  that like button, consider subscribing.
• 1:17:05
  If you feel like we provided you rally, but the number one thing
• 1:17:07
  you can do to help push the peaceful Bitcoin Revolution
• 1:17:09
  forward is share this content. In fact, share all Bitcoin
• 1:17:13
  content, don't be exclusive, share it all, don't share.
• 1:17:16
  Shit coin content, that's counterproductive but until next
• 1:17:20
  time, we'll see you tomorrow, subscribe to some anchor
• 1:17:24
  Fountain. Spotify check out our original
• 1:17:26
  Clips Rustin and L are absolutely slang it.
• 1:17:29
  We're trying to drop those every weekday on the weekends as well.
• 1:17:33
  Check out the written version of the show, go to Simply Bitcoin
• 1:17:35
  dot news, shoutouts are awesome teams of writers Zak, and Mike
• 1:17:39
  or holding it down, drop in the hot fire, sir Ulrich dropped a
• 1:17:43
  guest article, which was a A particle, which is hot fire as
• 1:17:48
  well. Anyways guys, I appreciate you
• 1:17:50
  all. We love you and we'll see you
• 1:17:51
  tomorrow for a brand new episode of Simply Bitcoin live.
• 1:17:56
  But we will be having a simply Bitcoin iro with Jimmy song
• 1:17:59
  tonight, so I'm really looking forward to that.
• 1:18:00
  Anyways, guys. Peace out.