Latest / Simply Bitcoin / Long Term Bitcoin Holders Hits All-Time High | EP 798

Transcript

Long Term Bitcoin Holders Hits All-Time High | EP 798 · Simply Bitcoin

• 0:23
  we're going to simply Bitcoin Live.
• 0:24
  We're your number one source for the peaceful Bitcoin revolution
• 0:26
  Crowd. Breaking news culture, Matic
• 0:27
  Warfare. We will be your guide through
• 0:29
  the separation of money in state.
• 0:31
  Crazy, crazy news. I mean it's not surprising at
• 0:35
  all. But the long term Bitcoin
• 0:37
  haulers hold an all time high Bitcoin.
• 0:40
  That means that the amount of Bitcoin on exchanges continues
• 0:44
  to to go down. The amount of Bitcoin hoddlers
• 0:47
  continues to go up. I think this is bitcoins
• 0:50
  incentives. I think they're, there's
• 0:51
  they're, they're winning. And I think people are realizing
• 0:54
  that if you sell your Bitcoin, what are you selling it to?
• 0:57
  You're selling it. You're selling it for Monopoly
• 0:59
  money basically. So this is overall bullish news.
• 1:02
  We're going to break down also the numbers we're going to,
• 1:05
  we're going to dive deep into that.
• 1:06
  Today also seems like the Tether lawsuit was dismissed.
• 1:11
  We were going to talk about that yesterday, but we ran out of
• 1:13
  time. So we, we're going to, we're
• 1:14
  going to, we're going to cover that article.
• 1:16
  And on top of that, we have a very special guest.
• 1:19
  We have Mags and Mags. Thank you so much for joining us
• 1:23
  today. How you doing?
• 1:24
  Hey, I'm awesome. How are you?
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  Well, it was good. It was good seeing you at Mining
• 1:28
  Disrupt in Miami not too long ago.
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  Mags is a is it? I know that bitcoiners hate the
• 1:34
  word expert, but I would consider you a mining expert.
• 1:38
  Thanks that. No, I see that's the problem.
• 1:41
  Once you go down the rabbit hole, you're like, I know
• 1:43
  nothing. She's highly knowledgeable about
• 1:48
  mining. All right, I'll say it like
• 1:50
  that. And of course, my legendary
• 1:51
  cohost, He's drinking coffee. That means he's feeling
• 1:54
  optimistic today. The one the only the legend.
• 1:57
  Legendary optimist Fields. How you doing bro?
• 2:00
  I am doing wonderful and I am so geeked up on coffee this
• 2:04
  morning. I probably have the jitters, but
• 2:06
  hey, you know, this is part of the fun.
• 2:08
  What's up everyone? Good to be back.
• 2:10
  It's Tuesday. Still got a long week ahead of
• 2:12
  us. But the news don't stop.
• 2:14
  The grind don't stop. I'm excited for this one.
• 2:15
  I'm. I'm ready to hear mags talk
• 2:17
  about Bitcoin mining in the culture.
• 2:19
  I think you guys are going to like this one.
• 2:21
  But anyways. Are we gonna get a classic Niko
• 2:24
  Jones rant today, or is this gonna be a mellow Niko Jones?
• 2:28
  I don't know, man. It's just bullish news.
• 2:31
  It's not. It's not like.
• 2:32
  OK, so Hopia Niko Jones. So opium, Yeah, nothing's
• 2:35
  around. Throughout, don't sell your
• 2:40
  Bitcoin to BlackRock. Yeah, exactly.
• 2:42
  That's the best news. That's the best news of the next
• 2:45
  of this having the next four years.
• 2:47
  If you sell your Bitcoin, statistically speaking, you're
• 2:50
  probably selling it to Larry Fink.
• 2:52
  Don't be that poor sailor or sailor.
• 2:55
  Either one of them. Either.
• 2:57
  Either of them. OK.
• 2:58
  All right, everybody. No more delay.
• 2:59
  Let's jump straight to the news or the US government.
• 3:06
  Oh, my God. OK, that's a good dark turn.
• 3:08
  All right, everybody, let's go. Let's start the numbers.
• 3:10
  Let's do it. The Bitcoin numbers.
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  right now and use the promo code simply and you get a nice
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  discount. Anyways, at the time of
• 4:29
  recording the Bitcoin price is 29,565 sats per dollar. 3882
• 4:37
  block height 801,952 blocks to having 38,048 having estimate
• 4:43
  April 20th, 2024 Total Lightning Network capacity 4692 Bitcoin
• 4:48
  capacity value 138 million U.S. dollars.
• 4:51
  Realize monetary inflation rate 1.76%, continuing to embarrass
• 4:56
  Fiat currencies. The market capitalization is
• 4:58
  $574 billion with the B Bitcoin versus gold market cap 4.41
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  percent. In the grand scheme of things,
• 5:06
  Bitcoin is still a tiny baby. Anyways, here is Kathy Wood and
• 5:10
  she's talking about the infamous Bitcoin Spot ETF.
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  Then she has an interesting take.
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  She says it if the SCC approves a Spot Bitcoin ETF, it will
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  approve more than one at once anyways.
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  She is also known for coming up with the infamous 2030
• 5:28
  prediction where she says the bear case is 258 K, the the the
• 5:33
  base case is 648 K and then the bull case is like some crazy
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  number, it's like $1.48 million per Bitcoin.
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  So that's so. And she's also obviously she's
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  accumulated a lot of Bitcoin, so she's a, she's a, she's a huge
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  advocate for it. But anyways, let's hear what she
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  has to say. And of course, this is on legacy
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  legacy media, Bloomberg. So let's check it out and then
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  we'll talk about it. So you are in this race, Let's
• 5:59
  talk about the race a little bit.
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  The first important deadline coming up is August 13th, where
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  the ARC filing the SEC is either going to delay it, which we
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  think they'll probably delay it. And then BlackRock is later.
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  You filed before BlackRock, but BlackRock came in with the
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  surveillance sharing agreement with Coinbase.
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  That was novel. Right Now we're looking in the
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  future. There's talk of a common clock
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  where the SEC could approve a bunch of ETF's at once, putting
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  you on a level playing field with BlackRock.
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  And others, what's your take on how this will play out given you
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  filed earlier? I I think you're probably right
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  that August 13th will come and go and I think, I think the FCC,
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  if it's going to approve a Bitcoin ETF, will approve more
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  than one at at once. So then again, because most of
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  these essentially will be the same.
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  And it will come down to marketing, communicating the
• 6:55
  message. You know, we've been putting out
• 6:57
  our Bitcoin monthly for the for the last year.
• 7:02
  We are now starting a Bitcoin brainstorming session, our first
• 7:08
  one we launched last Thursday. So we're trying to get the word
• 7:13
  out there that, you know, our research is deep.
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  And we've been doing it since 2015 when we gained our first
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  exposure to GB TC. We were the first public asset
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  manager to gain exposure to Bitcoin at all in 2015.
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  That's exactly where I want to go, the Grayscale Bitcoin trust
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  known by its ticker GB TC. If you look at Arc W for example
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  your ARC Next Generation Internet ETF.
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  Right now I see GB TC as the third largest holding.
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  If we are in a situation where the SEC does give its blessing
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  for a spot Bitcoin ETF, would you plan to sell out of GB TC
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  and buy one of these physically backed funds?
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  I cannot talk about what we would and would not do and in
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  fact. Our compliance team is you know
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  giving us marching orders not to talk very much about this filing
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  and it's aftermath at all. So just the fact that we filed
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  with our partner 21 shares is, is as far as as I can go, all
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  right. I'm fine, not surprised at all.
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  So interesting how this is playing out and again like what
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  I find very interesting is that even though she filed before,
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  it's like it's almost as if BlackRock gets very special
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  treatment than the rest. So I think that's.
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  But Mags, I want to get your take cuz I haven't heard it
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  before. It's What's your take on the
• 8:40
  BlackRock Spot ETF? What do you think it's going to
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  do for Bitcoin? I've had, I've heard two
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  different takes on this. Caitlin Long is coming from
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  they're going to rehypothecate the F out of it.
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  That's what Lawrence Apart thinks as well.
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  And then Foss and Lavish come from.
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  This is really good for the price action.
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  It's going to price the pump and they're not really going to be
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  able to rehypothecate it because of, you know, it's a spot ETF in
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  the regulations and all that stuff.
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  So what's your take on this? What?
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  What anger are you coming from? What?
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  What anger you coming from at it?
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  So I'm coming more from the Foss lavish side where so we don't
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  yet have a full regulatory structure in the US around
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  custody, right. So I think that like that's the
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  caveat depending on how they set it up, it's still possible that
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  maybe there is some rehypothecation possible.
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  But I think generally as best practices companies that just
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  have been holding, what will be more interesting to me is
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  whether BlackRock decides to then set up some sort of.
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  Yield product, not like the bag cutting yield where $10,000,
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  sorry 10,000% I mean something like setting up lightning notes,
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  so, so you can earn a yield, right.
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  So, so that to me would be interesting if they set
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  something up like that where you're it's technically not
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  rehypothecating because you're still holding the keys, but
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  you're still making it work for you.
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  I'm sure they're hiring talent everywhere.
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  I do think it will have a massive impact on price action
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  because this is you know, the gorilla in the room on Wall
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  Street. BlackRock is the largest asset
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  manager in the world. So once they have the Bitcoin
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  fund, I do think there will be some allocation from their
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  massive portfolio. It might not be everybody's, but
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  it may be their wealthiest clients or even just, you know,
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  1% allocation will do numbers. So I think for, for, for that
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  people, you know, it is exciting but.
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  Again the the challenge there is, is because BlackRock will
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  probably attract the most capital, like I think it would
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  be the largest Bitcoin ETF there is, You are again consolidating
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  it in one spot. So we're seeing that.
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  And I know bitcoiners, you know, we've seen this happen.
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  You have huddlers like Michael Saylor.
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  It's just, it's just a shame sometimes.
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  To see it happen. And lastly, you know, I've been,
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  I've been through something similar in Canada.
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  So I helped launch the first Bitcoin fund in Canada.
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  We took the Ontario Securities Commission to court.
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  It was a three-year legal battle and we ended up with a 26 page
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  ruling from the judge that said yes, it is in the public
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  interest for the public. To hold Bitcoin, which then
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  paved the way for all the ETF's in Canada.
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  So I'm really excited to see the legal case with respect to GB TC
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  that's going through the court because I think either we will
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  get BlackRock first or GB TC if if for some reason give me keeps
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  like stuff in Bitcoin down. But that said, BlackRock is
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  powerful. They donate a lot of money.
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  Things have changed. Like look at mainstream media
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  now like BSG. We're in a different part of the
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  cycle. I think it's so crazy watching
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  the anchors protect Bitcoin using like a lot of the
• 12:03
  terminology that Bitcoiners are using.
• 12:05
  It's like, wait, did I just hear that?
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  It's like, no, Bitcoin is actually a good thing.
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  And then, you know, it's it's perplexity.
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  It's, it's. You think it's a bazzle, right?
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  Like Black Rock is Black Rock's a part of this?
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  Bitcoin is actually a good thing.
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  Bitcoin is actually helping the oceans anyways.
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  Opti, what's your take on this? Well, yeah, you know, as the
• 12:26
  inhouse Bitcoin Pleb, you know the average Bitcoin in here.
• 12:30
  I don't like ETS. Personally, I advise not to buy
• 12:33
  paper Bitcoin, but as far as I'm concerned, it's paper Bitcoin.
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  But we all know that this will be good for price action.
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  I do understand and I think anyone that is not naive
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  understands how much capital inflows will come from these
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  ETF's, from traditional financial people.
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  And you know, in that regard, we're super bullish because,
• 12:52
  hey. As we've been talking about, you
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  know, BlackRock got trillions of dollars.
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  If even a small portion of that money gets into Bitcoin and we
• 13:01
  start to orange pill those people and they start to
• 13:03
  understand what they're holding, it's gonna be extremely bullish
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  moving forward obviously. And on the Kathy Woods news, you
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  know we love competition. So hey, you know, it's gonna be
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  great to see multiple spot ETF's approved at one time.
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  Because then people can actually have options and choices and
• 13:18
  they're not being forced to get centralized into one ETF.
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  Obviously, as mag says, most people are probably gonna just
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  trust the BlackRock name because they are the biggest asset
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  manager in the world. So we know that most money will
• 13:30
  probably go into BlackRock, but as something we've been talking
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  about. BlackRock has become like the
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  Canary in the coal mine now and it's signaled to every asset
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  manager in the world that Bitcoin is safe.
• 13:41
  You know, they're they've endorsed Bitcoin.
• 13:43
  So Bitcoin is ESG friendly now and every corporate press site
• 13:46
  out there is starting to embrace Bitcoin and talk good about
• 13:49
  Bitcoin. So you love to see it and it
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  really makes you start to understand that this is opening
• 13:56
  up. All asset managers around the
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  world to not have the damage to their reputation by embracing
• 14:02
  Bitcoin. And obviously that's good for
• 14:04
  every single person out there that is holding Bitcoin and is
• 14:07
  yet to hold Bitcoin. Because now everyone knows what
• 14:10
  we know. Bitcoin is safe.
• 14:12
  You want to hold Bitcoin, you need some Bitcoin in your
• 14:15
  portfolio and you know Bitcoin is for enemies.
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  Bitcoin is for anyone. So as much as us bitcoiners may
• 14:21
  not like. The ETF products like who are we
• 14:24
  to stop people from using Bitcoin, how they see fit And it
• 14:27
  really reminds me, we've been talking about this for a while.
• 14:29
  It really reminds me of one of the early how Finney posts on
• 14:33
  Bitcoin Talk forum where he's saying, you know there will be
• 14:36
  Bitcoin banks that are fractional reserve and there
• 14:39
  will be full reserve Bitcoin banks.
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  So I think we are in the beginning of that process and
• 14:43
  we're going to start to see who's going to take the the risk
• 14:46
  of rehypothecating their Bitcoin.
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  And I I forget who was saying it, but it was in one of the
• 14:52
  IRF. Nico, I'm blanking on who it was
• 14:55
  exactly, but we were kind of a TLDR ING them in the chat.
• 14:59
  It's like, what if the BlackRock Bitcoin ETF is the very thing
• 15:04
  that brings down BlackRock by then?
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  Rehypothecating Bitcoin like this would be bullish AF.
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  Peter Dunward, There's Peter Dunward.
• 15:12
  Peter Dunward, like that would be an amazing turn of events.
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  It's like of course they are incentivized to try to continue
• 15:20
  to do traditional financial techniques maneuvering and watch
• 15:25
  them like just. Get bit by the greed bug even
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  though like Bitcoin goes up what like 100% every year on average
• 15:33
  and they rehypothecate their Bitcoin and then they just get
• 15:37
  margin called and the whole company comes out like how
• 15:40
  glorious would that be? I want to get mags perspective
• 15:43
  on this. Yeah.
• 15:44
  I'm just wondering why would you risk it if you're that big,
• 15:47
  you're earning a lot of fees. Just just take your feet, just
• 15:50
  like FTX. Take your knees and live off
• 15:53
  them, you know? Yeah, agreed.
• 15:55
  But but. But that hasn't stopped Wall
• 15:57
  Street in the past, has it? No.
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  OK. All right.
• 16:03
  We might see. You know what's interesting also
• 16:06
  is that every cycle the exchange, the exchange, there's
• 16:10
  always an exchange blow up and the exchange blow up is bigger
• 16:13
  than the. Last bigger and bigger.
• 16:14
  So I'm a Quadriga bankruptcy inspector.
• 16:16
  We just distributed, by the way, last month we beat Mount Cox.
• 16:23
  So wait, could you talk about what happened?
• 16:25
  Like, is he really dead? Is he really dead?
• 16:30
  You know, OK, so before I joined and and and just when the
• 16:36
  bankruptcy process first happened, I thought it was just
• 16:38
  so weird the way he died, right. So he died.
• 16:41
  He took. In the hospital, they took his
• 16:45
  body back to the hotel then brought it back to the hospital.
• 16:47
  Hospital like, no, this ain't standard for seizures.
• 16:50
  So they had to take it to university that had some shady
• 16:52
  pass and I'm like, this just seems weird but looking.
• 16:55
  So the Ontario Secrets Commission did a really big
• 16:57
  report on where the money went and he lost a lot of it.
• 17:01
  Trading like made bad trades and he was doing what FTX was doing
• 17:05
  and just he lost about 140 million, which was like.
• 17:08
  I remember off the top, maybe 65%.
• 17:11
  And then like a bunch of it was hard assets that like cash and
• 17:15
  houses that he bought with our funds.
• 17:18
  And so I was like, well, there's not that much money left.
• 17:21
  So if there was like this huge chunk out there, I'd be much
• 17:25
  more likely to think that he's alive.
• 17:26
  But like, I went from 85% to like 98% sure that he's dead.
• 17:32
  Gotcha. So, hey, Nico, What?
• 17:33
  What Max is saying is there's hope that Bitcoin brings down
• 17:36
  Black Rock. There's hope.
• 17:39
  I know man, you can see Black Rock mining.
• 17:42
  That would be pretty cool. Oh man.
• 17:45
  This is the year of sovereigns mining.
• 17:48
  But like who? Who's next?
• 17:50
  That will start mining, right? Yeah, that that's very
• 17:52
  interesting. I suspect it's going to be the
• 17:54
  energy companies like you, like you had Conoco Phillips, you had
• 17:58
  like it's like these massive. And again they weren't directly
• 18:01
  doing it, they were doing it through a third party.
• 18:03
  But I think that's the next step.
• 18:05
  It it is. And and I mean sovereigns mining
• 18:09
  is pretty freaking cool. But what's interesting too is
• 18:12
  the new chairman of BlackRock is the former CEO of Saudi Aramco,
• 18:19
  the largest oil company. That's why I'm like, that's
• 18:22
  really interesting, you know, and and the Middle East is
• 18:25
  really starting to embrace the quiet mining, right, Including
• 18:29
  at a sovereign level, right? There's a sovereign wealth fund.
• 18:32
  That's partnered in a joint venture with Marathon, so that
• 18:36
  to me is pretty interesting. And that's why I said maybe it
• 18:38
  will start mining, but even if it's tangential, yeah, it it's
• 18:43
  it's it's exciting to say the least.
• 18:46
  Anyways, everybody, let's I gotta tell you about the largest
• 18:50
  Bitcoin conference on the face of the earth, Bitcoin 2024.
• 18:53
  It's coming up in Nashville. TN Mags, are you gonna be there?
• 18:57
  I don't know yet if they ask me to speak okay, but you guys
• 19:03
  don't want to miss the largest Bitcoin conference in the face
• 19:06
  on the face of the earth, Bitcoin 2024.
• 19:08
  It's going to be Nashville, TN July 25th, 27th through the
• 19:11
  27th. For GA it's 349.
• 19:13
  For an industry pass, it's 849. For a whale pass, it's 4749 and
• 19:17
  you can use promo code simply to get yourself an even bigger
• 19:21
  discount. Anyways, everybody let's move on
• 19:23
  to the news. We got a lot to talk about.
• 19:28
  The Daily News All right guys, I want to tell you about the
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  Orange Pill app. You want to stack friends who
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  right now and when you sign up, you'll get 10,000 Sat's.
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  Stack friends who stack Sat's download the Orange Pill out
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  today and I do appreciate opting.
• 20:04
  I do appreciate all the messages and love that we're getting.
• 20:07
  And we try to take the time to respond to each and one of the
• 20:09
  messages. Anyways, the big news I wanted
• 20:11
  to cover today is long term Bitcoin Huddler metric hits new
• 20:15
  all time high. Long term Bitcoin huddlers now
• 20:18
  control a record of 14.6 million Bitcoin according to data from
• 20:24
  blockchain analytics firm Glass Node.
• 20:26
  Long term Bitcoin Huddlers are a ha.
• 20:29
  You see that little Freudian slip holders hoddlers.
• 20:32
  I'm going to switch it to hoddlers, I don't care.
• 20:34
  Longterm Bitcoin hoddlers are are dresses that have held coins
• 20:38
  for at least 155 days according to Glass Node.
• 20:42
  Previous research shows that this type of address is This is
• 20:45
  statistically unlikely to spend. Thus in Bitcoin slang assumed to
• 20:50
  be hoddling. I like that here for our our
• 20:54
  video watchers, here's the graph, absolutely bullish.
• 20:59
  And it's interesting because this wasn't the case in like the
• 21:01
  early days of Bitcoin. I think a lot of people didn't
• 21:03
  realize its value. But I think as time progresses,
• 21:06
  as you have more Michael Sailors, if you have more name
• 21:09
  bouquets, you have more black rocks, I think people come to
• 21:13
  the inevitable conclusion. It's like if I sell Bitcoin,
• 21:16
  that's the question that I always get for my family.
• 21:18
  It's like, hey, So what are you gonna sell?
• 21:20
  And like that? My response is always the same.
• 21:21
  Like, sell to what exactly? Sell to?
• 21:24
  To Monopoly money. Something that we could.
• 21:26
  Especially now, like we just survived the bear market, We're
• 21:31
  probably on our way back out soon.
• 21:33
  Like, this is not time to sell exactly.
• 21:36
  Amen to that. I couldn't have said it better
• 21:38
  than Mags anyways. So let's kind of breakdown.
• 21:41
  Let's do some some simple math, right.
• 21:43
  So I start. I asked Google this morning when
• 21:45
  I saw this. I said how many millionaires are
• 21:47
  there around the world, right. So there's 56,000,000
• 21:49
  millionaires, right? Let's go back to the stat.
• 21:52
  So it's estimated that four. Let's let's round up.
• 21:55
  Let's make this number 14.6, right?
• 21:58
  So 14.6, so 14.6 million Bitcoin unaccessible Max.
• 22:05
  How many How much Bitcoin do you think are lost?
• 22:11
  I think at least a million. I know people say it's higher,
• 22:13
  but every now and then we see coins move.
• 22:16
  So, so I do think probably a million, but I don't think more
• 22:20
  okay, so a million. So let's say there's 20 million
• 22:23
  Bitcoin, right? So you subtract 14.6.
• 22:27
  I'm terrible at math. Help me guys here. 14.6 -, 20 is
• 22:35
  5.45 point 4. OK, so 5.4.
• 22:38
  So there's 5.4 million Bitcoin to to go around, right?
• 22:43
  Plus, not to mention all the Bitcoin that has been mined
• 22:46
  mined yet. And there's 56,000,000
• 22:49
  millionaires around the world, right?
• 22:52
  So you do the math, right? So it's 5.4.
• 22:55
  Let's divide it so 56,000,000 / 5 four and we get the number of
• 23:06
  10.3. No, I totally did that wrong.
• 23:11
  And you know, as Greg Foss would say, do the math. 11th grade
• 23:15
  math and he go to do 11th grade math.
• 23:17
  I totally did. I became a concentrate.
• 23:20
  No need 11th grade math to buy Bitcoin and hold Bitcoin.
• 23:24
  So 5.4 / 5.4 divided by how much Bitcoin is left, How much did we
• 23:30
  come? What come up with it?
• 23:31
  Was 5.4 bro. Okay 5.6 million divided by
• 23:35
  56,000,000 is .09 Bitcoin per millionaire, which is
• 23:41
  absolutely. It's nothing, right?
• 23:45
  So I don't think that's very world.
• 23:47
  It's nothing for the developing. It's a lot.
• 23:50
  Exactly, exactly. I agree with.
• 23:51
  I agree with that statement. And then, mind you, right, you
• 23:54
  also have this guy who's just continuing to stack all of it
• 24:02
  and he he's just not leaving it for the rest of us.
• 24:07
  And let's take a look at how much Bitcoin he has.
• 24:10
  He has 152. So I guess the Long story short,
• 24:14
  the point that I'm trying to make right is that if you divide
• 24:17
  it equally between all the millionaires with the amount of
• 24:21
  Bitcoin that's left, that's not in cold storage.
• 24:23
  It's only .09. Let's round up it's .1 Bitcoin
• 24:27
  per millionaire. There's one billionaire that has
• 24:30
  158,000 of them. Imagine when the other
• 24:33
  billionaires wake up to this and they say, hey, I want to stack
• 24:36
  some too, there's not enough Bitcoin to go around.
• 24:40
  And I think that this has never happened before because in gold
• 24:43
  mining, what's interesting is that the production of gold
• 24:45
  mining actually goes up when the price goes up.
• 24:48
  But with Bitcoin, doesn't matter.
• 24:50
  The having is the having like it is what it is.
• 24:55
  So it's just a very unique and interesting phenomenon.
• 24:58
  And that leads, like it leads the Neville conclusion, This
• 25:01
  thing's going to go to the moon, This thing's going to blow up.
• 25:04
  And to add to what Mags was saying earlier, right, why would
• 25:07
  you sell your Bitcoin right now? You're selling it to Sailor,
• 25:10
  you're selling it to BlackRock and maybe you're selling it to
• 25:13
  governments. We don't know yet.
• 25:15
  Definitely El Salvador, but. The.
• 25:16
  Other ones El Salvador, but then also like.
• 25:20
  Not just the bull market, like, we're waiting to see if the ETF
• 25:23
  is going to be approved, right? We're waiting to see if
• 25:26
  grayscale is converted. Like, it's not a good time.
• 25:30
  Just at least wait till that. Yeah, it's it's definitely not a
• 25:34
  good time. Is it safe to say it's never a
• 25:36
  good time to sell your Bitcoin? Would you say that Max?
• 25:39
  I will. No, I'm going to be that guy.
• 25:42
  That girl I think to like. But I've been in this place
• 25:47
  where I'm like, I'm never selling.
• 25:48
  I'm foddling. And then you struggle through
• 25:50
  and it's like, at some point it's like you got to live life,
• 25:54
  right? You got to enjoy things, go on
• 25:56
  your trip because, like, on your deathbed, maybe you folks are
• 26:00
  like, yes, generational wealth. Well, if, if you're holding some
• 26:03
  Bitcoin, there's still going to be generational wealth that
• 26:05
  you're passing on. You're not selling at all.
• 26:07
  But I think like making memories with your family, you know, go
• 26:12
  see your parents. You know, spend time with your
• 26:14
  partner, going that vacation, spend time with your kids.
• 26:17
  I think that is more important than maybe you need a house.
• 26:23
  Provide security for your family, right?
• 26:25
  I do think you should be. Don't toddle forever.
• 26:30
  At some point, you have to live too.
• 26:32
  Okay. I like that.
• 26:33
  I like that. I love that.
• 26:34
  I love that. And I agree with you, by the
• 26:36
  way, I agree with you. But the awesome part about
• 26:38
  Bitcoin is that you know it it it goes up, right?
• 26:42
  So it's like this, it like this. You're on this like like weird
• 26:45
  type of mentality where it's like you're purchasing power
• 26:48
  increases over time. Yeah, it's a very interesting
• 26:51
  phenomenon. Anyways, optimum.
• 26:53
  Back. Don't be like, oh, this phone is
• 26:55
  now worth $10,000. Like, that's it's a negative
• 26:58
  mindset, right? OK, but Max?
• 27:00
  To be fair, that 10,000 Bitcoin for two pizzas like that must
• 27:04
  have hurt. Yeah, no, I can't remember if he
• 27:08
  had. He probably had more, but that's
• 27:11
  a tough look. If I had been in Bitcoin in like
• 27:15
  2009, for all I know, I might have sold that like $1.00 at
• 27:19
  $10. You never know, right.
• 27:21
  So and he said the price like that was you needed it.
• 27:26
  It was a beautiful transaction because it's now, you know,
• 27:29
  like. In at 2140, when the last
• 27:33
  Bitcoin is mine, right, people are gonna be like, remember that
• 27:37
  Laszlo and he bought that pizza. Yeah, he went down in history.
• 27:41
  Your name goes down in history. That is your legacy.
• 27:45
  Like he has a legacy. This is true.
• 27:47
  This is true. Oh, yellow.
• 27:48
  Yellow has a comment. Yellows in the chat.
• 27:50
  Don't sell your sats for stuff. Sell it only for the betterment
• 27:53
  of your quality of life. That's the standard of selling.
• 27:56
  Nothing less and start buying back immediately.
• 27:59
  Okay. Yes, that's a really good way to
• 28:01
  put it. Don't stop believing how to do
• 28:08
  that feeling. Yellow is always here.
• 28:10
  All right. Abdi, what's your take on?
• 28:13
  Well, first on the Laszlo. Topic You know, he was an early
• 28:18
  GPU minor, so I'm pretty sure he's set.
• 28:25
  Have you seen him in that interview, bro?
• 28:20
  Like, I'm pretty sure he's OK and and doesn't regret selling
• 28:23
  that 10,000 Bitcoin. Like.
• 28:27
  Which one? No.
• 28:28
  Have you seen? Have you guys seen him in that
• 28:30
  interview or like the like? It was like the legacy media
• 28:32
  where they have like multiple camera angles and she's like, so
• 28:35
  you sold 10,000 Bitcoin, That's 175.
• 28:39
  And he's just like. I never did the math.
• 28:42
  He's like, yeah. That's like 2 Max points though,
• 28:46
  You know, like you can always look back, Yeah, you can always
• 28:50
  look back and be like, man, you know all the Bitcoin I've lost
• 28:53
  or you know, the opportunity cost of not buying when it was X
• 28:56
  price like. That is just bad for your mental
• 28:59
  health period. Like look forward stacks at you
• 29:02
  have the opportunity to stack now but that's a totally
• 29:04
  different different topic. So let's get back to the news
• 29:07
  here. First and foremost, I love
• 29:09
  seeing the corporate press. This was Yahoo news just like
• 29:12
  continue to cover Bitcoin whether they know that they're
• 29:15
  being stupidly bullish with us or not.
• 29:17
  Like I just love to see that we have psyop corporate press to
• 29:20
  like talk about Bitcoin stuff. And you know, Yahoo News has
• 29:23
  been doing a pretty good job and shouts out to I forget who it
• 29:26
  was. But they tagged me on Twitter
• 29:28
  and they're like Opti. You got to be more optimistic
• 29:30
  about the corporate press. Like we have Bitcoin is working
• 29:32
  at Forbes and stuff and I'm like, hey bro.
• 29:34
  Take pmg. Yeah, exactly.
• 29:36
  Exactly. Like, I love to see it, but you
• 29:38
  know, I I'm not. I'm doing my job by being
• 29:41
  critical and skeptical of the corporate press sites, but love
• 29:45
  to see that bitcoiners are infiltrating all of the
• 29:48
  institutions. So, you know, just just love to
• 29:52
  see it. But to the news about the
• 29:53
  Hodlers and the Glass Note stuff.
• 29:55
  And of course you know, Glass Note on Yahoo.
• 29:57
  News like, just love to see. I remember when that was just
• 29:59
  Bitcoin opium on Twitter and like Glass Noon, like my metrics
• 30:02
  on chain metrics, bro, we're going to the moon.
• 30:04
  But what do I always say on the show guys?
• 30:08
  The Bitcoin price is a real time metric of people's
• 30:10
  understanding. And I think that that metric of
• 30:14
  people holding Bitcoin is also a real time metric of people's
• 30:17
  understanding of what they're holding or what Bitcoin as a,
• 30:21
  you know, as people would say as a class and investment.
• 30:24
  Idea is, and it's something you want to hold long term.
• 30:26
  It's the best store of value in the world and it's
• 30:29
  permissionless money and we know all the memes.
• 30:32
  But you love to see that this trend is improving, that more
• 30:36
  people are holding on to their Bitcoin and not just looking for
• 30:39
  the Fiat gains. And I think a lot of people
• 30:41
  forget that. Bitcoin price is set by the
• 30:45
  margins. Like there's only so much
• 30:47
  Bitcoin that that people trade and that's what sets the Bitcoin
• 30:51
  price. And more people are holding
• 30:52
  Bitcoin as we've seen. What is it, 14.6 million Bitcoin
• 30:57
  is in cold storage. Like most people are hoddling
• 30:59
  their Bitcoin. Most people understand what
• 31:01
  they're holding and they don't want to part with it.
• 31:04
  And I think I forget who was the person that did the article, but
• 31:08
  it might have been glass node themselves or chain analytics or
• 31:11
  something. I forget who it is.
• 31:12
  Some Unchained metrics person and they were saying a couple of
• 31:16
  months ago that all the Bitcoin tourists are gone in the
• 31:18
  ecosystem. So like, yeah, that's that's
• 31:20
  that was their framing all the Bitcoin tourists.
• 31:22
  Are gone. And I think it's it's becoming
• 31:26
  more and more obvious to at least us here on simply Bitcoin,
• 31:28
  like everyone that is. Still.
• 31:30
  Obsessed with Bitcoin is people that understand what Bitcoin is.
• 31:33
  They understand how this is going to change the world.
• 31:36
  And we haven't really got back into popular culture of
• 31:39
  consciousness yet because we've been in a bear market for so
• 31:42
  long. So it's just, I think it's very,
• 31:45
  very positive to see corporate press talk about Bitcoin,
• 31:49
  whether it's like you know, Joe Squawk or it's Yahoo News like.
• 31:53
  Or BlackRock or whatever. Like everyone is starting to
• 31:56
  realize, like, hey, I might want to get some of this just in case
• 31:59
  it catches on and it's like, hey, we're here, we're waiting
• 32:02
  for you guys and this next bull run.
• 32:04
  I think it's going to be absolutely insane.
• 32:06
  And it's just beautiful to see that most people are holding on
• 32:11
  to their Bitcoin. And of course there's probably a
• 32:13
  lot more Bitcoin lost. And we understand.
• 32:15
  And it just always makes me think.
• 32:17
  We are just not bullish enough guys.
• 32:19
  I I know we're getting lost in the sauce and the bear market's
• 32:22
  wearing us down and we're we're doing our best to sell all of
• 32:26
  our chairs and be greedy and stack all the SAT playing hungry
• 32:29
  hippo with Bitcoin. But I think moving forward we
• 32:34
  are going to see. Very sharp price rise and all of
• 32:39
  you guys out there going to have to make it through that auto
• 32:42
  buyout zone. As we can tell, all the
• 32:45
  institutions want your Bitcoin. Everyone's a scammer and they
• 32:47
  want your Bitcoin guys, so you know.
• 32:50
  Steal your mind right now. Make sure you guys are mentally
• 32:53
  prepared for this price rise. And and also like Max was
• 32:56
  saying, you know, get yourself in a financial position where
• 32:58
  you don't need your Bitcoin to raise for you to live a good
• 33:02
  life. So you know right now is the
• 33:04
  time to calm before the storm to prepare yourself for what's
• 33:06
  going to come because hey, you know me, I stay stupidly bullish
• 33:09
  and I think it's going to get crazy.
• 33:11
  So I'm just trying to like. Temper that now because I
• 33:14
  already know I'm going to be losing my mind in the next year
• 33:16
  or two about the price rise. So I'm, I'm just warning you
• 33:19
  guys now, it's all looking very good in, in my opinion.
• 33:22
  But hey, I have, you know, orange lenses on and I look
• 33:25
  through the world in orange tinted view.
• 33:28
  Oh man, oh man. Opti.
• 33:30
  Opti. They don't call him St.
• 33:32
  Opti for no reason. Everybody, now, everybody we're
• 33:34
  going to talk about, we're going to talk about Max and what she's
• 33:37
  doing, what she's up to. So it's time for the culture,
• 33:39
  everybody. Let's do it.
• 33:44
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• 34:09
  right guys, I want to tell you about the largest Bitcoin
• 34:12
  festival on the West Coast, The Pacific Bitcoin Festival,
• 34:15
  October 5th through the 6th in Los Angeles, CA.
• 34:18
  Current speaker list includes Jimmy Song, Lynn Alden, Greg
• 34:21
  Foss, Alex Gladstein, Corey Clifton, Preston Pish and many,
• 34:24
  many more. You don't want to miss the
• 34:26
  biggest Bitcoin celebration in California on the West Coast,
• 34:30
  the Pacific Bitcoin Festival. I hope to see a lot of you guys
• 34:33
  there. Anyways, West Coast, West Coast,
• 34:35
  I can't wait to go in high signal.
• 34:39
  Mags is going use promo code simply if you want to see mags.
• 34:43
  If you don't use promo code, you're not gonna see mags.
• 34:45
  Yes, agreed. All right, guys.
• 34:48
  Well, first and foremost. Most people really love to hear
• 34:52
  people's orange or white, you know, rabbit hole story, rabbit
• 34:56
  hole journey. So Mags, I'm going to first tee
• 34:58
  you up with what is your rabbit hole story and why you so
• 35:02
  obsessed with Bitcoin. I'm I'm probably very similar to
• 35:06
  most people where number go up. I'm like hmm what is this?
• 35:11
  Bought, bought a little bit so other things going up like
• 35:15
  Ethereum diversified so I CO's lost a lot of money.
• 35:20
  Came back in the black in 2020, which is just painful because
• 35:24
  that was a 2017 class. That kind of was like a learning
• 35:29
  moment. You know, you have trial by fire
• 35:31
  where I was like, there's a lot of crap out there, and sometimes
• 35:36
  you kind of have to go through that to better understand why.
• 35:39
  But I kept learning. And I think also you have to
• 35:43
  dive into like your your personal story, your family
• 35:45
  history to make. Bitcoin resonate with you or why
• 35:49
  it's important or when you're connecting with other people
• 35:52
  Because looking back, I have some family stories.
• 35:54
  So my grandma, beautiful gardens, beautiful house in
• 35:58
  Poland when she grew up, but when the war happened and the
• 36:07
  government shifted the border, because that's what governments
• 36:09
  do and that. She lived in Tadnopo.
• 36:12
  It was no longer in Poland. It became part of the Ukraine.
• 36:15
  So she lost her house, she lost her land and she had to leave
• 36:18
  the country and with not much, right.
• 36:20
  So that's that's a case of like governments, you know, like Draw
• 36:24
  Something, sign something and things are no longer yours.
• 36:29
  And I take that personal story. As you know, Bitcoin cannot be
• 36:32
  confiscated by government with like the stroke of a pen.
• 36:36
  And so that's important to me and that's something that
• 36:39
  resonates. And then also same thing with my
• 36:41
  grandpa. His grandfather was an artist in
• 36:46
  Poland and he, you know, painted lots of beautiful pictures.
• 36:49
  But again, war happened. They had to flee their house and
• 36:53
  we came back. It was broken into and all the
• 36:55
  paintings were gone. And other valuables.
• 36:58
  And then he walked along the street and see his grandfathers
• 37:01
  are in like, for sale the stuff that was stolen.
• 37:05
  And he couldn't even afford to buy it back.
• 37:07
  But again, like people will steal your things.
• 37:10
  And last kind of personal story is we left Poland during
• 37:15
  communism. We escaped as refugees.
• 37:18
  You know, my dad packed up the car, the little Fiat, because
• 37:20
  that's what we had back then. It was a standard car, Fiat car,
• 37:23
  tiny car, everything that we could take with us.
• 37:26
  We took the government kind of messed up there.
• 37:28
  They gave everybody in my family a passport.
• 37:31
  Usually they wouldn't because then somebody has to stay
• 37:33
  behind. But they made that mistake.
• 37:35
  And when we arrived at the border, you know, there were
• 37:37
  border guards there, like, where are you going?
• 37:39
  What's going on? The border guard looks in and
• 37:41
  she's like, you're not coming back, are you?
• 37:43
  And then my dad's like, no. And she's like just go and but
• 37:48
  he was worried that they were going to shoot shoot at them
• 37:51
  because a kind of a time but, you know, we made it, but that's
• 37:56
  all we took. And so you know it.
• 37:59
  It's just these little stories that kind of make the coin more,
• 38:03
  you know, resonate with me and my story and why it makes sense.
• 38:06
  So I I urge everybody to kind of like go through your family
• 38:09
  history and and and find those stories why it resonates,
• 38:13
  especially when. You know, you're struggling.
• 38:16
  You're like, I don't know if the coin's ever going to go up
• 38:18
  again. It's like, those are, those are
• 38:20
  the reasons why you're like, I'm in it for that, right?
• 38:23
  And for me too. I'm also in it because.
• 38:26
  So I spend a decade in low carbon economic transition,
• 38:29
  right? I know a lot of you love the ESG
• 38:32
  stuff, but like I was trying, you know, I love the
• 38:34
  environment. I was trying to save, you know,
• 38:36
  the environment by working on projects that would reduce
• 38:40
  carbon. And and while you're there, you
• 38:43
  know for the decade I saw that government just shift the, the,
• 38:47
  the, the targets because they can't meet them and they need to
• 38:50
  make trillions of dollars worth of investment.
• 38:52
  And it's just not happening because no one's spending the
• 38:54
  money like taxpayers, ratepayers.
• 38:56
  It's just not happening. And then you get into Bitcoin
• 38:59
  mining and we are, you know, Bitcoin is this elegant system
• 39:02
  of economics, right? And it's finding.
• 39:05
  It's all about finding those incentives and here we are.
• 39:08
  Setting up projects Co locating with renewables, with nuclear to
• 39:12
  support that, you know those low carbon generation sources.
• 39:15
  We're building out better grid infrastructure for that new, you
• 39:20
  know, transition to a low carbon grid.
• 39:22
  You know, we're like partnering with projects that are reducing
• 39:25
  methane, whether it's landfills, whether it's on farms, right,
• 39:29
  like animal poop is generating energy.
• 39:34
  The project that I work on is reducing.
• 39:37
  The landfill waste for tigers. But like we are through the
• 39:40
  incentives that Bitcoin provides, subsidizing a way to
• 39:44
  reduce, you know environmental negatives or externalities.
• 39:49
  And so it's pretty exciting to me, like that's that's what
• 39:53
  makes me super pumped and excited, right?
• 39:55
  Like you hope that you get to work in a place that it's also
• 40:00
  meaningful and and that's why I love being a bitcoiner and
• 40:04
  working in this space. Love it.
• 40:06
  Powerful story. Powerful.
• 40:07
  Story. I'm already a super fan.
• 40:10
  This is, this is, this is awesome, This this is
• 40:13
  incredible. Like what your your childhood
• 40:15
  experience, you know, fleeing A communist country kind of
• 40:19
  seeing, you know what? And and then then looking back,
• 40:24
  right? Like looking back and say what
• 40:26
  if I had Bitcoin in this moment? Holy cow.
• 40:29
  Would that have made a difference?
• 40:32
  And you know, and it's interesting, you know, to put
• 40:35
  communism aside, just collective collectivist ideologies in
• 40:39
  general, like they have to build a wall to keep you in, which is
• 40:44
  the interesting part, right? It's just not people just
• 40:46
  wanting to stay there. But that is that is so
• 40:50
  fascinating And you know, we've heard so many Bitcoin stories,
• 40:55
  but that that had to be one of my favorites that I've heard.
• 40:59
  And it's interesting because. Everyone approaches it from a
• 41:02
  different angle, right? Yeah, but all roads lead to the
• 41:06
  same place, right? Yeah, the single pillar of
• 41:09
  truth, which is Bitcoin. Because it's a whole bunch of
• 41:11
  our society. This is why Bitcoin is
• 41:14
  fascinating, but also really hard to understand for the
• 41:16
  regular person. Because it's like, suddenly
• 41:19
  you're diving into the history of money.
• 41:21
  Into energy systems, which are like super complex, just how
• 41:24
  society is structured and inflation and and there's just
• 41:27
  so many interconnections that it's overwhelming.
• 41:29
  People are like, no, I'm just going to watch the Kardashians
• 41:31
  or something like that, right? And that's why all walks lead to
• 41:35
  Bitcoin, cuz whether you're a farmer who's now decided to
• 41:38
  subsidize the operation through Bitcoin mining, right?
• 41:40
  Or you're an energy company. Or you're working, you know, at
• 41:43
  the central bank. There's different paths to
• 41:46
  Bitcoin, so we will infiltrate every sector.
• 41:51
  Let's go. I like it.
• 41:52
  Let's go. Anyways, Mags.
• 41:55
  I think this is a perfect example of what we'll be saying
• 41:57
  about winning the hearts and minds of the masses out there
• 42:00
  and telling personal stories so that people can also have
• 42:02
  emotional connections to why we do what we do.
• 42:05
  Because you know, if you're here just for the price, you might
• 42:08
  get flushed out when the price goes down, but when you have
• 42:11
  these other reasons behind why you do what you do, it becomes
• 42:14
  so much easier being a hoddler. Like I always say, once you know
• 42:17
  why you Hoddle, life becomes so much easier as a bitcoiner.
• 42:20
  But you did, as Nico always say, bury the lead there.
• 42:23
  You said something really amazing.
• 42:26
  Let's talk about what you are working on.
• 42:27
  You turn tires into energy for Bitcoin miners.
• 42:31
  Like talk about, you know, ESG friendly Bitcoin mining.
• 42:37
  Comment that came up, I think from Elaine, she's like, you
• 42:40
  know, but there's a difference between ESG and showing and and
• 42:44
  actually doing doing good work. So, you know, around the world a
• 42:47
  billion tires gets thrown up every single year.
• 42:50
  And in the US, about a tire per person, and that's just
• 42:53
  landfilled. And you know, they leach toxins.
• 42:57
  Sorry, they leach into the water.
• 42:59
  Ways toxins and they also emit volatile organic compounds of
• 43:03
  into the air and so nothing is done and there's massive fields
• 43:07
  of tires on fire in different places of the world like Kuwait
• 43:11
  and so it's a problem that really doesn't have a solution.
• 43:15
  A lot more landfills are binding.
• 43:17
  Sorry, banning the the landfilling of tires.
• 43:21
  They're stopping using tires for children's playgrounds because
• 43:24
  there might be some health negative health effects from
• 43:28
  that. And some places are fanning.
• 43:30
  So it's like, what do we do with these tires?
• 43:32
  Well, we mind them, right? We have these vertical reactors
• 43:37
  that we put the tires in and we thermally deconstruct them.
• 43:41
  It's not burning like we're not burning tires.
• 43:44
  We're almost like a reverse refinery where we take the tire,
• 43:49
  heat it up, and there's multiple products that come out of that.
• 43:52
  So there's an oil that we put in a diesel generator.
• 43:55
  There's a synthetic gas kind of like methane that can be burned.
• 43:58
  There's this black carbon byproduct at the end that also
• 44:01
  had BTU value that we sell. And lastly, there is steel.
• 44:06
  That 25% of the tire is steel because you need that rigid
• 44:09
  structure to make, to be maintained, right.
• 44:12
  And so we can sell that for scrap.
• 44:15
  And so we have 4 products that we can sell and we get paid for
• 44:19
  the tire because typically tires, you know, if you, if you
• 44:23
  throw something out in a landfill, there's tipping fees.
• 44:25
  So it's a very different kind of business model.
• 44:28
  That also gives us optionality in a bear market because those
• 44:31
  are the reactors there. In that picture, it gives us
• 44:33
  absolute optionality because we can either sell the energy or we
• 44:36
  can mine Bitcoin. So you know, depending on where
• 44:38
  you are in the cycle or where you are.
• 44:40
  So if you're an island nation where energy is expensive and
• 44:44
  waste landfilling is expensive, maybe it makes more sense just
• 44:47
  to set up those reactors and and use the energy.
• 44:51
  Energy for the sake of energy, like think of Hawaii or Puerto
• 44:54
  Rico, right. But in other places maybe makes
• 44:57
  more sense to to mine Bitcoin. And so I love this because it's
• 45:00
  another way where we found this different type of business model
• 45:04
  that is lowering the environmental footprint as a
• 45:08
  byproduct. But it makes economic sense, you
• 45:11
  know, to mine Bitcoin or to get rid of this waste.
• 45:14
  So that's what I'm excited about because we're, you know.
• 45:17
  A lot of Bitcoin companies are here to do good and I feel like
• 45:21
  we do that. That is awesome.
• 45:23
  That is. How did you come up with this
• 45:25
  idea? This is so fascinating.
• 45:27
  That was the former team, so I joined on because I spent so a
• 45:31
  decade, was working with heavy industry, and one of the things
• 45:34
  that we looked at was alternative fuels like using.
• 45:37
  Things like waste to lower carbon.
• 45:39
  So when you think of a tire there is some it's not like
• 45:43
  carbon negative or carbon neutral like some other products
• 45:46
  but there is some biomass component because rubber comes
• 45:49
  from natural plants. But so I joined because I have
• 45:53
  prior knowledge of working with alternative fuels and also
• 45:55
  Bitcoin and Bitcoin mining. It's not burning waste at high
• 46:00
  temperature, we actually, so it's that we're not doing
• 46:03
  paralysis where you do need high temperatures to paralyze as in
• 46:10
  so, so I'm also a firefighter. Volunteer fires, burning
• 46:16
  buildings, car fires. We do auto X where we, you know,
• 46:20
  cut open the car and take the victim out.
• 46:23
  So anyway, that is that so. Escape communism?
• 46:26
  Burning tires for sats, Firefighter Mags.
• 46:29
  What can't you not do? What's going on here?
• 46:32
  So the reason why I bring up paralysis is like when you have
• 46:35
  a fire, the the thing, let's say this banana, sorry, it's the
• 46:38
  only thing that you know could comply right now that I'm
• 46:41
  looking at here. It's better.
• 46:43
  It's a better example. So when you're burning, you know
• 46:48
  in a room, right? You're not this, this, this
• 46:51
  actual solid thing is not burning.
• 46:53
  When the room reaches a high enough heat, the item pyrolyzes.
• 46:59
  And it's just kind of like off gases and it's that gas form
• 47:02
  that lights on fire. So when you think about like
• 47:05
  flashover, all that stuff, we're like, oh, big room explodes.
• 47:08
  It's because the whole room has gone to a high enough heat where
• 47:11
  things have started to volatize and then everything just, you
• 47:15
  know, lights up. And so we're not doing that
• 47:18
  requires a lot of heat to get that product to.
• 47:22
  Prior life. But what we do is a low
• 47:24
  temperature. Like I said, it's more like a
• 47:27
  refinery. So we kind of bake it and it,
• 47:30
  you know, when when you put oil in a refinery, there's different
• 47:33
  things that get tapped off at different points.
• 47:35
  And then at the end there's like kind of crap left over, you
• 47:38
  know, like sludge that becomes some coke or heavy oil.
• 47:42
  But so it's a different process that uses a lot less energy and
• 47:46
  you just need a little bit of natural gas to get it started to
• 47:50
  and then the rest, you know, it kind of burns a little.
• 47:52
  Bit of the tire to keep that heat going.
• 47:55
  So it is very different and much more energy efficient.
• 47:58
  That's awesome, amazing. So we got a question here in the
• 48:01
  chat. They're wondering, you said you
• 48:03
  thermally deconstruct them. What chemicals are released into
• 48:06
  the air as a result? What's being used?
• 48:08
  Yes, for the actual energy consumption.
• 48:10
  So we're not. Emitting air because what we're
• 48:14
  doing is it's it's like there's there's chemical process that
• 48:17
  happens that it gets that tire gets converted into the oil into
• 48:22
  the synthetic gas that so we capture all the byproducts.
• 48:25
  Again very different from burning where you know you burn
• 48:28
  carbon and then you release CO2, right.
• 48:31
  It's in anaerobic conditions and so and then there's the steel 2
• 48:34
  left over that we, you know that can be recycled.
• 48:37
  So it is a different chemical process.
• 48:40
  And we've done life cycle analysis and accounting of all
• 48:42
  the chemistry of how how this converts to that.
• 48:46
  So there are like what gets very, what do you call it like
• 48:50
  into the chemistry. But it's not the, like I said,
• 48:53
  it's not burning where it's being emitted into the air
• 48:57
  because we're not burning, we're converting.
• 49:00
  Yeah, amazing. Amazing.
• 49:02
  Okay. One last question before we get
• 49:04
  to the meme review and I feel like.
• 49:06
  One thing, sorry, has Microsoft seed plates in a burnt down
• 49:09
  house? No.
• 49:11
  But I will say one thing cuz even there was an ad for metal,
• 49:15
  so as a firefighter, so most of the houses these days are
• 49:20
  constructed in a very fat way. You're not using natural
• 49:24
  materials, you're using plastics and.
• 49:26
  Things made from the petroleum industry.
• 49:28
  Shit burns like it burns really quick like before it used to.
• 49:32
  If you use natural products you could go 40 minutes before the
• 49:35
  house fully burned like let's say prior to when they started
• 49:38
  making all these cheap cheap goods.
• 49:40
  Now within 10 minutes a house can be like fully lit up.
• 49:44
  Go to go to YouTube, like look at there's some, there's like
• 49:47
  videos where people are recording like small fighter and
• 49:49
  then did the whole house burns down.
• 49:51
  Things like trailers are like 5 minutes and so.
• 49:55
  You know, a if the fire doesn't get your seed, if it's on paper,
• 50:00
  the water will, because we dumped so much water on the
• 50:04
  House, on the houses next door to protect the exteriors.
• 50:08
  So if the fire doesn't get your house, the water will.
• 50:11
  So yeah, just make sure that you're protecting your seed.
• 50:14
  Have backups. Stamp your seeds on titanium.
• 50:18
  Honestly, just or anything. Yeah, anything other than paper.
• 50:22
  Do not have your seed phrase in paper, in your laundry.
• 50:25
  Dirty laundry. Papers a bad idea.
• 50:27
  Papers a bad idea. But anyways, Mags, just you
• 50:30
  know, if there's someone out there that is still on the fence
• 50:33
  about Bitcoin mining being environmentally friendly, what
• 50:36
  would you say to someone that has these concerns?
• 50:39
  I just, you know, it's. Sometimes I'm I'm like, you
• 50:43
  know, Satoshi quote if I don't have, sorry I don't have the
• 50:50
  exactly. So I think it's one of those
• 50:52
  things where you'll catch up because every day there's new
• 50:56
  stories of a different industry using Bitcoin mining to help you
• 51:01
  know. So we've got farmers that are
• 51:03
  reducing carbon methane from from their farm.
• 51:07
  Operation, we have district heating systems and both Europe
• 51:11
  and Canada being set up from Bitcoin mining.
• 51:14
  So and also like bath houses in in in the US, right, we're
• 51:18
  supporting the grid. Like there's so many cases that
• 51:22
  if you actually take the time to look into it, you'd realize that
• 51:25
  it's happening. You know, but I think they kind
• 51:28
  of have that bag over the head or they have some other
• 51:30
  misconception that's that's stronger.
• 51:32
  But these stories are now starting to be told, right.
• 51:35
  You have burned the National Park where Bitcoin mining is
• 51:38
  helping save gorillas but also power renewable, you know, set
• 51:41
  up microgrids that are renewably funded like this is happening.
• 51:45
  You know, El Salvador is setting up geothermal through Bitcoin
• 51:48
  mining through the volcano bond. So over time I think those
• 51:51
  stories will become completely impossible to ignore.
• 51:54
  They'll be all over MSN and. So, so just like, give it some
• 51:58
  time. Like, I'm at the point where,
• 52:00
  like, you're going to get convinced because you're just
• 52:03
  going to get hit from every section by these stories.
• 52:06
  Yeah, you can't. You can't.
• 52:07
  You can't There you can't. There's no amount of spin,
• 52:10
  misrepresentation and BS they'll be able to throw at this for it
• 52:15
  to like hide what is going on. I I completely agree with that
• 52:19
  statement. I think that's going to happen.
• 52:20
  This next having like, I think sailors going to be vindicated,
• 52:23
  Bucala is going to be vindicated.
• 52:25
  And then I don't know what they're gonna do.
• 52:26
  Like it's gonna be undeniable at that point that that just
• 52:30
  Bitcoin is just it's just awesome.
• 52:31
  Anyways, it's. Funny, in fact, like, maybe not,
• 52:34
  because then again, they're Flat Earth.
• 52:35
  They're still so. They're always, they'll always
• 52:38
  be the people that like, they're in the chat.
• 52:40
  They're in the chat right now but but So it's safe to say
• 52:44
  Mags, that you're not a fan of green peasing.
• 52:46
  Change the code. I don't know, man.
• 52:48
  They've done a really nice bit of advertising for us.
• 52:53
  So, indirect fan. All right, guys.
• 52:55
  Indirect. Fan but yeah like change the
• 52:57
  code is totally. Before we move on to the meals,
• 53:02
  which is what you guys have all been waiting for, make sure to
• 53:06
  subscribe to us on alternative YouTube alternative video
• 53:09
  platforms, because YouTube is is a little little hairy these
• 53:12
  days. You could subscribe to us on
• 53:14
  Rumble. You could subscribe to it.
• 53:15
  You could follow us on Twitter, You could.
• 53:17
  That's where you could find us our.
• 53:18
  Video content, of course. Your favorite podcasting
• 53:21
  platform for whatever reason cuz I don't know what's going on
• 53:24
  with YouTube these days. And also guys help us keep our
• 53:28
  streak of breaking 100 likes within the first hour of the
• 53:32
  live stream. We're currently at 87 like.
• 53:35
  So if you're enjoying the stream, make sure to smash that
• 53:37
  like button. Smash it, smash it, smash the
• 53:39
  like button. All right everybody, let's get
• 53:41
  to the memes. We got a lot of memes to review
• 53:43
  with Max. Let's check it out.
• 53:44
  It's. A serious business.
• 53:48
  The Daily Meme Review. Brought to you by Kaboom Racks.
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  Kaboom Racks. Oh my God.
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  Wow, look at that guy. I got the physical Yellow.
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  No, I got him. No, I got him.
• 54:26
  All right, guys, you already know the deal.
• 54:27
  This is the meme review where you send us memes.
• 54:29
  We reviewed them live on the show.
• 54:31
  Forgive my green screen, but my computer's about to die, so we
• 54:34
  have to switch to my FaceTime camera right now.
• 54:36
  Anyways, tweets of the bullets. Memes are the artillery.
• 54:40
  We are in an information warrant, as Mags so eloquently
• 54:44
  explained to us, even when you show people what's going on,
• 54:48
  they're still going to be convinced otherwise.
• 54:49
  So continue to ridicule the corporate press, continue to
• 54:53
  make the funnies to make your friends laugh, and continue to
• 54:56
  get the calls of action out there and spread the Bitcoin
• 54:58
  signal. Because that is the only thing
• 55:00
  that matters, is that more people start holding Bitcoin.
• 55:02
  More people understand why they should be bitcoining and spread
• 55:06
  the memes. Publicate the memes guys.
• 55:08
  Anyways, 1st meme shouts out to my boy Joe Rogers.
• 55:10
  He goes at or he's at under score Joe Rogers on Twitter and
• 55:14
  he goes Fresh Market enjoyers. And we talked about this the
• 55:19
  other day, I think it was yesterday about Whole Foods how
• 55:22
  they're trying to implement the palm readers on their in their
• 55:26
  payment mechanisms. You know it's just so much more
• 55:28
  convenient. So much better guys.
• 55:30
  Like look how crazy it is. You can scan my palm and I can
• 55:32
  pay for things. Well, yeah, he he, he's doubled
• 55:37
  down on this. And there's the picture of the
• 55:39
  girl who just scanned her palm and she's like this.
• 55:41
  So cool. And he put the MPC QR code on
• 55:44
  the head and the QR scanner is the World Economic Forum.
• 55:47
  Do not fall for this, guys. It is Bitcoinered.
• 55:50
  It's a slavery. We say this all the time.
• 55:52
  OK, The next meme is by Maxie's Club and it goes 481.
• 55:55
  Take a good seat. And this is a play on the
• 55:57
  classic school bus meme, where the left side is a Fiat enjoyer
• 56:03
  and they're sad and they're broken.
• 56:05
  Well, we have an angry person here saving in Fiat, literally
• 56:08
  looking at a wall because that is what their future will be.
• 56:12
  A cage where you look at the back of The Cave and we have the
• 56:14
  saving and Bitcoin. We got you guys out there, the
• 56:16
  bitcoiners, that just look at the prosperous bright orange
• 56:19
  future. And you're so hopeful and
• 56:21
  optimistic about where the future is going because you
• 56:23
  know, Bitcoin fixes this and it's Bitcoin or slavery.
• 56:26
  And we choose Bitcoin. OK, this next meme is by the BTC
• 56:29
  Therapist. And it goes.
• 56:30
  It's going up. Wait, it's going up forever.
• 56:33
  I got. It it's going up forever.
• 56:35
  Anyways we got the classic I I think this is Star Trek we got
• 56:38
  the Star Trek big brain guys and it goes.
• 56:40
  Me when Bitcoin is $1 million and I was right the whole time
• 56:44
  and we look at them just big brain energy.
• 56:47
  Just like I've been telling you that this is the way and you
• 56:50
  need to stack sets. OK this next one is safe, Dean.
• 56:54
  And even though this one might be a little meta for you guys,
• 56:57
  the the crux of this meme here is what safety says in in the
• 57:02
  tweet. Here goes.
• 57:03
  I considered writing an article on why bricks delusions about a
• 57:06
  new global reserve currency are unworkable, but I think I'm now
• 57:10
  only capable of communicating ideas via memes or base.
• 57:13
  So this, this is all of us. We can only communicate in memes
• 57:17
  after a certain point. Exactly.
• 57:21
  He's using the Drake hotline Bling, you know, no Yes
• 57:25
  template. And he's got Drake going.
• 57:27
  No, read some Austrian economics and it's the BRICS nations.
• 57:31
  Or yes, decades of catastrophic monetary experiments trying to
• 57:35
  scam each other before realizing the only workable international
• 57:39
  neutral currency is Bitcoin. Dude, even.
• 57:43
  Even some of the the best Austrian economists that right.
• 57:46
  Big long books. Just can get the message across
• 57:48
  in memes. This is the power of the memes
• 57:50
  guys. OK, the next meme is by the Meme
• 57:52
  Factory TM. And do you guys remember growing
• 57:55
  up and reading the Snapple facts?
• 57:57
  Well look, we have real fact #120 shit coins exist to take
• 58:02
  your Bitcoin. This is a real fact because it's
• 58:04
  on a Snapple cap guys. OK anyways, this next meme is by
• 58:08
  Bitcoin Sapiens, but it's a quote by Max Kaiser and it's an
• 58:12
  AI generated warrior with a Bitcoin shield.
• 58:14
  And it goes. Bitcoin attracts quiet warriors
• 58:17
  and the versus defenders of the greatest ideals.
• 58:20
  Max Kaiser Love to hear it. Love to see it.
• 58:22
  This is the way guys. And the last one is by our
• 58:24
  friend Rd. BTC.
• 58:26
  Actually, this is mean factory heavy today I didn't even
• 58:28
  realize you guys. You thought that was your money
• 58:32
  #banks #bankers #Bitcoin. It goes, we got an MPC Here
• 58:36
  goes. I'd like to use my money to buy
• 58:37
  Bitcoin. And we got the MPC banker and he
• 58:40
  goes, you mean our money? It's not your money if you give
• 58:43
  it to a bank. This is why we Bitcoin.
• 58:46
  This is why we save in Bitcoin. Anyways, my mean review score
• 58:49
  Nico is the same thing. My little yellow plushy.
• 58:53
  Hey, but look, my look world of Rusty's in the chat and.
• 58:59
  I feel left out. This is my plush.
• 59:03
  OK oh, you can get yours at World of Rusty dot com, you
• 59:06
  know. Yeah you know it's kind of fake
• 59:08
  news that yellow is yellow because look at him he's getting
• 59:10
  green screen. So I think this is the the
• 59:13
  quintessential dilemma is a tennis ball yellow or green is
• 59:17
  now has been formed into is yellow actually yellow or is he
• 59:22
  green? I don't know because the green
• 59:24
  screens getting them. Anyways, Nico before Well,
• 59:27
  actually Mags. What's your score?
• 59:29
  Was that your score? The little hoddler.
• 59:31
  For all of them, or for a specific one?
• 59:34
  For all of them or specific one, whatever.
• 59:36
  You want, Yes. The hoddler is my beautiful.
• 59:40
  Plushy, plushy, magsy meme. And I am a fan of the coming out
• 59:47
  of the light. Yes, coming out of the you know,
• 59:51
  the dark cave. What is it?
• 59:52
  Plato's cave? Coming to Bitcoin.
• 59:54
  But I also have a banana, OK. That's a.
• 59:58
  Good one. The 2nd place one crap.
• 1:00:03
  I can't remember what was the IT was either the last or the
• 1:00:05
  second last one. Show them quickly again.
• 1:00:08
  Yeah, I got you. Yeah, yeah.
• 1:00:09
  Show me them. Here we go.
• 1:00:14
  Yes, yes. The money.
• 1:00:16
  Our money. This one If you what radicalized
• 1:00:21
  you the banking system? Like, seriously.
• 1:00:27
  I love that. Awesome.
• 1:00:31
  All right, okay guys. All right, we actually, Nico, we
• 1:00:33
  got a fresh meme score in here guys, and we're gonna start with
• 1:00:38
  this one first and foremost while the other ones come in
• 1:00:41
  here. And also world of Rusty Nico's
• 1:00:43
  green screen is not broken because I tried to verify this
• 1:00:47
  this morning and my green screen also makes yellow go half
• 1:00:51
  invisible. So hey, you know, even the
• 1:00:54
  technology is saying that yellow is green, So I don't know, I
• 1:00:57
  don't know. Anyways, Nika, check out this
• 1:01:00
  first thing. Rusty sent it.
• 1:01:01
  To me in the DM guys, exclusive for you guys promo code simply
• 1:01:05
  for 15% off yellow plushy, it will only work five times.
• 1:01:11
  You got to go to worldofrusty.com and I love
• 1:01:15
  that. I love that Rusty is getting
• 1:01:16
  some some free advertisement. Love it.
• 1:01:18
  Very, very clever. Rusty.
• 1:01:19
  Very clever. Again, promo code simply for 15%
• 1:01:23
  off yellow plushy. It will only work five times.
• 1:01:26
  All right. Next one.
• 1:01:29
  My Apollo 21. I give the memes, my memes.
• 1:01:33
  My Scherner. Heiser.
• 1:01:35
  Shotgun. Mic sign Heiser.
• 1:01:38
  You know what, Opti? No, you got to read the
• 1:01:40
  complicated words from now on. Kaboom.
• 1:01:42
  Maxi UTXO. My meme score is Go on.
• 1:01:47
  What is that goes? Serial Colors, Elaine.
• 1:01:53
  Meme score Greta Greta discovers truth about ESG, becomes a
• 1:01:56
  bitcoiner, loses the braid, Spreads the message.
• 1:02:00
  Autocoin. I give the meme 0% reserve
• 1:02:03
  requirement for banks as of March 2020.
• 1:02:05
  You are the yield. Opt out by Bitcoin all right.
• 1:02:08
  ES gives it everyone trying to remove their chips After
• 1:02:12
  learning about Bitcoin, Elaine 99 likes do it Bitcoiner All
• 1:02:17
  right. Next one is by Opti.
• 1:02:21
  Opti fields Yum. I like the taste of spicy
• 1:02:24
  people. What's Eliminate via child labor
• 1:02:28
  laws to send them to work at tire burning factory to stack
• 1:02:32
  Fort sacks. That is terrible.
• 1:02:35
  So that is Nylas Fields. He's a troll.
• 1:02:38
  All right, next one. My planet Earth scoring the
• 1:02:41
  memes, a bright orange feature for all of us, forever.
• 1:02:45
  And meme scored Norwell Tacos, my yellow plushy knockoff I
• 1:02:49
  bought on the street in Bangkok. The eyes stare straight at
• 1:02:53
  Awesome. Guys, thank you so much for
• 1:02:54
  tuning in to simply Bitcoin Live.
• 1:02:56
  We really, really appreciate it. I want to give a very special
• 1:02:58
  shout out to one of my new favorite bitcoiners.
• 1:03:01
  I'm a super fan. She's a firefighter,
• 1:03:04
  entrepreneur, all this crazy stuff.
• 1:03:05
  Mags, thank you so much for coming on the show today.
• 1:03:08
  Awesome. Coming on.
• 1:03:08
  Thanks. Really, really appreciate it.
• 1:03:10
  Why don't you tell everybody where they could find you on the
• 1:03:12
  interwebs? Yes, on the interwebs I am both
• 1:03:15
  on Noster, but it's a lot easier to find me on Noster from
• 1:03:18
  Twitter where I'm crypto under score mex.
• 1:03:22
  Awesome. Thank you so much Mags for
• 1:03:23
  joining us on Simply Bitcoin Live.
• 1:03:25
  We really appreciate it guys. If you enjoyed the show, you
• 1:03:27
  know to do smash that like button.
• 1:03:29
  I want to give you the results of the poll that we launched
• 1:03:32
  about 53 minutes ago. I asked is Bitcoin Black?
• 1:03:36
  Is the BlackRock ETF good or bad for Bitcoin?
• 1:03:39
  136 votes 50% of you said good. 12% of you said bad and 38% of
• 1:03:46
  you said too soon to tell. Anyways guys, if you enjoyed the
• 1:03:49
  show, smash the like button. Consider subscribing If you want
• 1:03:52
  to join the after party, Opti is going to be holding it down on
• 1:03:55
  Twitter Spaces with their friends over at Swan Bitcoin.
• 1:03:58
  Best place to build your Bitcoin stack?
• 1:03:59
  Shout out to the best producer in the game, Producer Jacob.
• 1:04:03
  Until tomorrow. Peace out guys.
• 1:04:05
  Love you all. Have a good one.