Latest / Simply Bitcoin / World's LARGEST Country JUST Ditched The USD For Bitcoin | EP 1148

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World's LARGEST Country JUST Ditched The USD For Bitcoin | EP 1148 · Simply Bitcoin

0:00
Yo, the day after Russia officially banned Bitcoin mining
0:05
for six years in 10 different region, the country's finance
0:08
minister came out and confirm that Russia is using Bitcoin in
0:12
international trade settlement. So what is really happening in
0:16
Russia? Why are they banning Bitcoin
0:18
mining in multiple regions while simultaneously confirming that
0:22
they're using Bitcoin to bypass the Western sanctions imposed on
0:25
them in 2022? Today we're going to be diving
0:28
into one of the most confused using nation state Bitcoin
0:31
rabbit holds Russia and try to come to a conclusion about what
0:35
is truly happening there and what their Bitcoin plan really
0:39
is. So let's begin with the most
0:40
recent news. And of course, I'm not alone.
0:43
We have Tony from the Bitcoin way with us and of course, our
0:46
fearless leader Nico filling in in the cohost seat.
0:49
He'll be filling in in the cohost seat on the Friday shows.
0:52
But let's dive into the news. I'm over here on Reuters guys,
0:55
and the headline is Russia is using Bitcoin in foreign trade,
0:59
finance says. And of course this came out on
1:02
this day. And if you watch the show, I'm
1:05
pretty sure Opti Opti. There's something, there's a
1:06
little bit something wrong with your audio, can Finnick.
1:10
Is it better? I would, yeah.
1:12
It's fixed now. It's.
1:12
OK, my bad guys. OK, so we covered this news, I
1:17
believe it was Monday, you know, Fact Check me on that.
1:20
We covered the idea of what's going on with Russia, but let's
1:23
dive into the 1st news 1st and here we go again.
1:26
We're on Reuters here and it goes.
1:27
Russian companies have begun using Bitcoin and other digital
1:30
currencies and international payments following legislative
1:33
changes that allowed such use in order to counter Western
1:36
sanctions, Finance Minister Anton Celenov said.
1:42
On Wednesday. Forgive me.
1:44
Sanctions have complicated Russia's trade with its major
1:47
partners such as China or Turkey, as local banks are
1:50
extremely cautious with Russia related transactions to avoid
1:54
scrutiny from Western regulators.
1:56
This year, Russia permitted the use of crypto currencies in
1:59
foreign trade and has taken steps to make it legal to mine
2:02
crypto currencies. And of course, we know they have
2:05
a lot of energy and they are actually mining Bitcoin in
2:08
Russia. Now we have a quote here.
2:10
As part of the experimental regime, it is possible to use
2:13
bitcoins, which we have mined here in Russia in foreign trade
2:16
transactions. Sounds kind of like the the
2:19
Trump thing, you know, like all bitcoins will be made in
2:21
America. And it seems like Mother Russia
2:23
is doing something similar. Anyway, such transactions are
2:26
already occurring. We believe they should be
2:28
expanded and developed further. I am confident this will happen
2:31
next year. Now, of course, you go in.
2:34
We're not obviously Nico and I don't speak Russian, but shouts
2:39
out to our friend Katie, the Russian over at Plan B
2:41
Passports. And she translated this video,
2:44
This clip coming. And so she put out a tweet and
2:47
it goes, has Russia started to utilize alternative payment
2:50
instruments in international trade?
2:52
And then the quote here is we've passed new laws as an
2:55
experimental policy. You can now utilize Bitcoin,
2:58
which we mined in Russia as mining has been legalized as
3:01
well. These transactions do take
3:04
place. Now, the interesting thing is,
3:06
remember we covered this new story on Monday, I believe it
3:10
was about what is going on in Russia.
3:12
And Russia just passed or rather enacted a six year blanket ban
3:16
on Bitcoin mining in 10 regions. So it's very interesting.
3:20
On the one hand, they seem to be, you know, stopping mining
3:24
for individuals in the country. But on a nation state level,
3:28
they are pushing for international trade settlements,
3:32
bypassing sanctions. So it really goes down to kind
3:35
of what Nico and I were saying on the show.
3:37
It's in Mother Russia. You know, Russia can use Bitcoin
3:41
to transact and bypass international sanctions, but in
3:44
the country, the citizens aren't allowed to freely use money,
3:47
which is kind of the idea we've been talking about here forever
3:50
on the show. Bitcoin is a Trojan horse for
3:52
freedom. So it is interesting a rules for
3:55
the, but not for me situation. And if you really kind of look
3:59
into the news like you, especially this week, there's
4:02
been a lot of people talking about what's the use case for
4:04
Bitcoin. You're just speculating.
4:06
You guys are just gamblers. And here we have Russia
4:09
literally using Bitcoin. And I would argue as it's
4:12
designed, this is the whole point of Bitcoin is it is
4:15
censorship resistant permission list.
4:17
When you need to use a money, when you need to transact and
4:21
someone wants to stop you, This is why you use Bitcoin.
4:24
And so as I've been saying all year long, 2024 has been one of
4:28
those foundational years where I think a lot of the bricks have
4:32
been laid to show the world that there is an actual use case for
4:35
Bitcoin, whether it's on the corporate level, whether it's
4:37
the institutional interest, whether it's on the nation state
4:40
level. The world is waking up to a very
4:43
simple fact that you need to have a money that is not
4:46
controlled by anyone and that you can transact freely.
4:49
A neutral money for the world is going to catch on and it is
4:53
beneficial. And let's not forget the clip of
4:56
Putin that we played to, what, 2 weeks ago, 3 weeks ago, where he
5:00
very clearly was like, maybe we need to use a money that you
5:03
can't ban. No one can ban Bitcoin.
5:05
And so you're seeing that this is playing out and it really
5:08
goes into a trend I think we've been talking about here on the
5:10
show for a long time. It's this idea that the people
5:14
in power, I think, are very aware of what Bitcoin is, what
5:18
is at stake. And we're seeing that it's
5:20
starting to play out. So to a lot of people watching
5:22
this, you know, maybe you have your own views on Russia and
5:26
Putin himself individually. But Bitcoin is for enemies, as
5:30
the meme goes. And Bitcoin is a neutral money.
5:32
And if someone wants to stop a transaction, if you're in the
5:36
SWIFT U.S. dollar system, they can very easily do it.
5:39
And now we're seeing that the signal is catching on that
5:42
Russia is, you know, bypassing U.S. sanctions using Bitcoin.
5:46
They said other alternative currencies, but I would argue
5:50
it's mainly in Bitcoin. So again, on the one hand, we
5:53
see that on the nation state level, or rather probably on the
5:56
big business level, Russia's allowing international trade
5:59
settlements to happen with Bitcoin.
6:01
But internally within Russia, they're starting to, it seems to
6:04
clamp down a little bit on who can and can't use Bitcoin.
6:08
Obviously they're passing some laws and some stringent
6:11
obstacles for people to to sign up and become, you know,
6:15
sanctioned Bitcoin miners in the country.
6:17
But we're seeing that the signal is catching on, guys.
6:20
More people are seeing a use case in Bitcoin.
6:22
So when people tell you what's the use case for Bitcoin, you
6:25
guys are just speculating. You guys are just gamblers.
6:28
Now, we have multiple examples of what the use case is for
6:31
Bitcoin. A neutral money that cannot be
6:33
stopped. This is the use case for
6:35
Bitcoin. Then of course, store value,
6:37
etcetera, etcetera. But I'm gonna pass it.
6:39
Actually, I'm gonna pass it over to Tony first.
6:41
Tony, thanks for coming on the show.
6:44
What's your thoughts on Russia using Bitcoin for international
6:48
payments but also seemingly banning mining within its own
6:52
territory? Yeah, this is, this is fantastic
6:56
news, man. This is this was inevitable.
6:59
I mean, the, the day the US dollar was weaponized, it
7:04
created this, this result. I mean, now that people know
7:08
that, you know, the money that they've been using for all this
7:11
all these years can be, you know, switched off, you know,
7:14
instantly just because somebody disagrees with you.
7:17
Well, if they can do it to a country, you know, Can you
7:19
imagine what they can do to every to 8 billion people?
7:22
And now that people realize this and but more importantly,
7:26
realize that there is an option, you know, not to leave yourself,
7:30
you know, dependent on this, they're going to take it.
7:33
And you know, Russia is no, Russia is no different.
7:36
They, they fully tried to sanction that country.
7:39
You know, they, they did God knows what to it.
7:42
They failed catastrophically. And now we know well, they've
7:47
they've put Russia and other countries like them on a mission
7:51
to find a solution that not to never find themselves in that
7:54
predicament ever again. And Bitcoin is that solution.
7:58
I mean, Bitcoin is is like, it's protected by cryptography,
8:03
powered by energy, and controlled by no one.
8:07
So of course they're going to standardize on it because they
8:10
know no one can prevent them from using it.
8:13
And the fact that Russia wants to prevent its people from
8:16
eventually using it is a bit ludicrous because Bitcoin is
8:20
peer-to-peer technology. You cannot stop it no matter
8:22
what you say. What you can do is maybe try to
8:24
scare people from using it, but eventually they'll clue on and
8:27
they'll ignore you and they will use it.
8:29
And then your words will become meaningless and your authority
8:32
or your authority, your point of authority will become
8:35
irrelevant. This is what Bitcoin was
8:37
created, right? It's created as an option out.
8:39
It's not created to extend the laws and corruption of the
8:44
existing legacy system. It's designed to format it and
8:48
replace it completely. Russia is going to do it.
8:51
I wouldn't be surprised if we see some other country, Maybe
8:53
China will announce it and before you know it the whole
8:55
domino effect will kick off and every bloody country in the
8:59
world will be doing it because they none of them trust each
9:03
other so they have to standardize on something they
9:06
know nobody else has an advantage over them with, and
9:09
that is Bitcoin. It's applicable to nation
9:11
states. It's applicable to the people.
9:13
Bitcoin was created for everyone.
9:14
You can't ban someone from Bitcoin.
9:17
You can only ban yourself from from using it. 100% couldn't
9:23
agree more. A lot of high signal there, Tony
9:25
and I, and this is I think the main point that that I would
9:29
like to stress for a lot of people, especially if they're
9:31
newer is like what you said about trust.
9:34
There's no one trusts each other.
9:35
This is why we are all looking for a currency that we can
9:39
trust. And This is why the dollar's
9:41
been weaponized. This is why no one's trusting
9:43
Fiat currencies is because we know they're going to go crazy
9:46
and print more money. It's going to debase your
9:48
holdings. And then even more, if you're on
9:50
the SWIFT system, obviously you have to bend the knee to
9:53
American interests. And now we're seeing that, hey,
9:56
there are alternatives now. And that also puts the US in a
10:00
sticky position. And going further, I think since
10:04
Trump kind of came out and talked about Bitcoin, now we're
10:07
seeing that everyone else is starting to talk about it.
10:10
And it really reminds me of the Mexican standoff.
10:12
You know, once the US kind of put the gun to Bitcoin, everyone
10:16
else is like, wait, now I have to go to Bitcoin because I'm not
10:19
going to get left out. So it is very interesting we're
10:22
seeing Russia talk about this. We do know China's kind of
10:25
backpedaling as well on their stance of Bitcoin.
10:28
Obviously we have a what about 20 days, no 23 days, about 3
10:33
weeks until we see Trump get into office and we'll see what
10:37
happens. And it, and it's looking like we
10:39
are seeing a lot of signals in the US that 2025 to, you know,
10:43
2029 is going to have some favorable jurisdiction for
10:46
Bitcoin. So the global game theory is
10:48
really picking up and I think we are starting to see a gradually
10:53
then suddenly moment. And I think we just need one
10:55
more domino to fall down and things are going to get super
10:58
crazy. But let me pass it over to Nico.
11:00
And Nico, what's your thoughts on this?
11:02
I think we literally called this out on Monday or whenever we
11:05
called this Tuesday, Wednesday or whatever the show was.
11:08
It's like we knew this was happening.
11:10
So Nico, what's your takes when we finally get some confirmation
11:13
of Russia using it for international settlements?
11:16
Yeah, I mean, you know, it's, it's the game theory playing
11:19
out. And I just want to clarify a
11:20
couple things, right? So they, you know, first you
11:24
have to go through the timeline of things and, and none of this
11:27
again, is happening by mere coincidence.
11:29
Elections have consequences, of course, you know, countries that
11:33
are competing with the United States, they see the United
11:35
States potentially gaining an edge in Bitcoin, and they
11:39
obviously want to stay on top of that, right?
11:41
That's why you hear, you know, the rumblings coming out of Hong
11:44
Kong basically saying, hey, we want Bitcoin businesses to come
11:47
here. Hong Kong, I know it's
11:49
technically, you know, one country, 2 systems, but it's
11:53
essentially a proxy for the CCP. And then of course, Russia.
11:58
But the Russia news is a little bit interesting because first of
12:01
all, we have to understand that right now they're in a war,
12:05
they've lost a lot of people in that war.
12:07
So it's kind of like a wartime economy.
12:10
Saw that in the chats when we were it saw that in the
12:12
comments. So it's, it's important to pick
12:14
that out. And another thing where I want
12:15
to specify too, is they, they banned Bitcoin mining in some
12:19
regions of Russia. And I believe those regions are
12:22
actually closer to the front line of where that war is taking
12:26
place. So it's not banned in every
12:29
region in every state. I don't know what the state
12:32
equivalent is in in Russia. Another thing also that I'll
12:37
mention is the specific, the specifically if you want to mine
12:42
Bitcoin in Russia, you have to seek state approval.
12:46
So you actually like need a license to do so.
12:49
And in regards to them using Bitcoin to facilitate
12:53
international trade due to pressure from sanctions, like,
12:57
yeah, that's a no brainer. But Opti, you you were
13:00
mentioning this earlier on in the show referencing the article
13:04
Bitcoin is a Trojan horse for freedom written by Alex Godstein
13:07
in 2000, 2020 one yeah, I mean, like what people have to
13:14
understand is that freedom go up technology.
13:16
And this is to quote his article and number go up.
13:19
Technology are inextricably linked.
13:21
You cannot disconnect the two. But if you're a dictator, if
13:25
you're a leader of a country, you cannot resist number go up.
13:29
But you don't want freedom go up.
13:32
What they don't realize is that it's a Trojan horse.
13:35
Once you let Bitcoin inside, you know, the, the Kingdom, the the
13:39
country you can't take away. You can't just benefit from it
13:45
and then not allow the whole freedom aspect of it.
13:49
So it's fascinating. It's the game theory playing out
13:52
and I would not be surprised to see Russia backtrack again.
13:57
But what's really interesting too is Rush Putin was caught in
14:03
an interview, we called this when it was breaking where he
14:07
just went on, you know, on a, you know, on a Russian state
14:11
media and was basically somewhat a report a quote UN quote
14:15
reporter asked them like something regarding Bitcoin.
14:18
And he was just like, yeah, like you can't, you can't ban
14:23
Bitcoin. And then like a week later, it
14:27
was announced that, you know, the the the Russian State Duma,
14:31
which is the equivalent of the House of Representatives here in
14:33
the United States, made the announcement that they were
14:36
proposing a strategic Bitcoin reserve.
14:39
So, you know, again, all of this would not have happened, whether
14:43
it's the news from China, the news from Russia, the news from
14:46
Brazil, the news from Morocco, none of this would have happened
14:51
if Donald Trump didn't win the election of, of November 5th,
14:57
2024. So elections have consequences.
15:00
This is why we're here. But it's beautiful because Long
15:04
story short, guys, when country, when nation States and
15:07
institutions compete to acquire as much Bitcoin as possible, the
15:12
holders of Bitcoin win. Why?
15:15
Cuz the price goes up. And that's the game theory.
15:18
That's the incentive playing out.
15:20
This is how Max Kaiser prophetically knew many years
15:24
ago when he coined the term Global Hash War.
15:28
He knew this was happening and it was because of Bitcoins
15:31
incentives. So it's beautiful to see this
15:34
play out, but it's a tough pill to swallow.
15:37
Could you imagine? Even here in the United States,
15:40
we were covering some news in regards to regulations that are
15:44
potentially going into effect in January 1st of 2025.
15:48
Like, it's crazy, some of these reporting requirements.
15:52
Hopefully the Trump administration walks some of
15:54
this stuff back. But you have to understand the
15:56
moment in history that we're in and the and the moment that
15:59
we're history we're in is the separation of money and state,
16:02
right? And do you think they're just
16:04
gonna say, you know what, you know, they have better money.
16:08
It sounds it has rules without rulers.
16:11
We're just going to give over the keys and just kumbaya.
16:14
No, that's bullshit. They get a tremendous amount of
16:18
power from having a monopoly over money and having control
16:23
over money. And to think they're just going
16:25
to give that willingly is extremely naive.
16:29
But I think we're inevitably going to win because we have
16:33
incentives on our side and they have coercion.
16:36
And if history is a teacher, incentives end up ruling the
16:40
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All right, everybody, before we get to the numbers, there's a
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We're at 1600 live views already.
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If you guys are enjoying the show, make sure to smash that
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We have a lot to talk about. We'll be right back.
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on Clark Moody's dashboard running through the numbers, of
20:21
course the Bitcoin price is currently $93,980.
20:27
Guys, wrap it up, 94,000 and $10 it's over.
20:30
Bitcoin is over. It's dead now.
20:31
Anyways, the stats per dollar how much Bitcoin you can buy for
20:34
a single dollar, AKA how much the dollar is worth in Bitcoin
20:37
is currently at 1064 sets per dollar.
20:40
The current block height is 876,629.
20:45
The market cap in Fiat terms, in dollar terms is $1.86 trillion.
20:50
The Bitcoin versus gold market cap is at 10.11% and the total
20:54
percentage of Bitcoin that will ever be issued is currently at
20:57
94.29%, which means roughly 19.8 million Bitcoin are currently
21:03
circulating, right? So going into this a little more
21:06
guys, we got pomp on Fox and he's talking exactly about kind
21:11
of what we've been talking about in the beginning of the show is
21:13
that now the cat is out of the bag.
21:15
As we said in the beginning, ever since Trump kind of came
21:18
out and become pro Bitcoin, you're seeing that other nations
21:21
are starting to follow suit, essentially doing what we just
21:24
said a minute ago, what Bitcoin is designed to do.
21:28
If you need to use a money that people want to stop you from
21:32
using, you should probably drop the dollar and go on the Bitcoin
21:35
though. I want you guys to notice one
21:37
kind of interesting trend here and it's the anchors reaction
21:42
after the fact and the fact that they're no longer kind of just,
21:45
you know, talking smack about bitcoiners.
21:47
It seems like they are starting to get bullish on Bitcoin and if
21:51
the segment was any longer, they would probably be giving you
21:54
price predictions themselves. So let's check this out.
21:58
I think that. Bitcoin is the king.
22:00
It will remain the king. I think that most of the capital
22:03
flows from the traditional world are going into Bitcoin.
22:05
There are going to be other assets that enter into the
22:07
market. You obviously see the the ETF
22:10
got approved. You'll probably see others that
22:11
get approved as well. But the argument for anything
22:14
other than Bitcoin is a very different one.
22:16
That is a technology argument. It's no different than trying to
22:18
pick between Amazon and Google and Facebook.
22:20
The Bitcoin argument is much more akin to do I want to
22:23
protect my purchasing power? It's digital gold.
22:25
And so that argument, to me is much more reasonable for the
22:29
government to say, hey, we're going to go and we're going to
22:30
put this in our reserves. I don't think that the United
22:33
States wants to get in the game of trying to pick tech winners
22:35
or losers based on, you know, the allocation of capital.
22:39
Do you have a A1 year target for us on Bitcoin with and without
22:43
the Bitcoin reserve? With or without, we're going
22:46
higher. I don't have, I don't
22:47
necessarily have a price. But I do think that if we go
22:50
ahead and buy Bitcoin, what's interesting is we will not be
22:53
the first country to do this. There's a lot of other countries
22:55
who have already bought their mining, they're holding Bitcoin.
22:57
What I do think is important though, is America is the
22:59
greatest capital market in the world.
23:01
And so if America does it, it pretty much reduces all of the
23:05
career risk, all of the critiques for all these other
23:08
countries. And so, you know, Russia
23:10
recently came out, they said, hey, we're mining Bitcoin.
23:11
We're to use it in transactions. People are like, oh, that's
23:14
Russia. You know, we kind of don't like
23:15
them. And so they're kind of in the
23:16
corner. People look at El Salvador and
23:18
like, oh, that's El Salvador. I couldn't point it out on.
23:20
But if they're doing it makes more of a case if your enemies
23:22
are doing it that you should be. Well, look, the United States
23:25
took a pretty drastic action in terms of the sanctions that they
23:28
went after individuals country and also took some of the
23:30
Russian assets and said, hey, we're going to give the
23:32
Ukrainian people. When that happened, Bitcoiners
23:35
came out and they said you are actually going to further
23:38
accelerate the demise of the US dollar because now you have
23:41
introduced the sanctions risk. There's a paper that came out of
23:44
the Harvard economics department where they talked about will
23:46
countries now start to buy Bitcoin not for price, not for
23:49
the sovereignty, but actually as a sanctions hedge Russia.
23:53
And so Russia is. Actually doing that, do you
23:55
think they're the only one? No, I wouldn't bet on it.
23:58
I will say someone on this program on the network said the
24:00
1st 100K on Bitcoin was the easiest and it could easily get
24:03
to 200 K by next year. I'm like, it took us this long
24:06
to get to 100. K and you think?
24:08
200K in the next. Year some people are saying 250.
24:10
I heard 500. Believable.
24:12
Well, if you guys. Just keep it.
24:13
We'll just wait a couple minutes.
24:14
You guys will be at the couple million here.
24:16
Anthony Pombley. Well.
24:22
Just, you know, making light of the conversation.
24:24
It's funny, at the end of it, they're like, wait, you know, it
24:27
took 15 years for Bitcoin to get 100K.
24:29
Wait, are we going to see 200K300K500K next year?
24:34
You're seeing that, You know, Fox News has been doing a pretty
24:37
good job of spreading the Bitcoin signal.
24:39
It seems like a lot of the anchors over there, the talking
24:42
heads are starting to believe in Bitcoin.
24:44
And This Is Us infiltrating the culture in real time.
24:47
And remember when we used to get talked about Bitcoin, it was
24:50
what, burning the oceans up, you know, we're going to take all of
24:53
the energy of the world, Bitcoins for criminals.
24:56
And now they're kind of jokingly talking about, wait, how high
24:59
can Bitcoin go? Which I think is just absolutely
25:02
hilarious. We've come a long way.
25:04
But talking about what Pop was saying and really connecting
25:07
this to the beginning of the show, you're seeing that this
25:10
signal is spreading. As we've been covering
25:13
throughout the whole year, more people are waking up to the
25:16
actual use case of Bitcoin. Why you might need it in your
25:18
portfolio, why you might need it on a nation state level, why you
25:22
might need it if you're, you know, a political prisoner or
25:25
someone that is a political dissident.
25:27
This is a use case of money, a neutral money that no one can
25:30
control. And it's very interesting to
25:32
kind of hear Pomp say what we've all been saying.
25:35
I'm sure you guys sat down for holiday Christmas, you know,
25:39
dinner and your friends and family were trying to tell you
25:42
that, oh, there's no use use case for Bitcoin.
25:44
And now we have a so many receipts to show that this is
25:48
the case. So if they kind of, you know,
25:50
brushed off Russia using Bitcoin, well, you know, you
25:54
can. You can point to BlackRock.
25:55
If they brush off BlackRock, you can point to Russia.
25:58
You can point to El Salvador. Nico and I have been saying this
26:01
throughout the year. El Salvador really started the
26:04
dominoes here, but they're such a tiny country that it was
26:07
really easy for you to just kind of brush them off and be like,
26:11
oh, they're an insignificant player on the world stage.
26:14
But now we literally have a world superpower embracing
26:18
Bitcoin, using Bitcoin for what it's designed to do.
26:20
And I think 2025 again, I'm I'm repeating myself going into this
26:24
next year, I think we're going to see some really big fireworks
26:28
in regards to Bitcoin, people using Bitcoin again, we see in
26:31
Russia, China is backpedaling. Of course, the USI think 2025 is
26:36
going to be a huge splash for Bitcoin in the cultural
26:39
zeitgeist. And it's going to be very
26:41
interesting to see all of this play out.
26:43
And as Nico said, if you are a Bitcoiner and you're holding,
26:46
you are the one who benefits if you take that Bitcoin into
26:49
custody and you don't leave it on exchanges.
26:52
This is how we win. Anyways, Nico, I will pass it on
26:54
to you. What's your thoughts on Pomp on
26:57
Fox essentially saying what we've been saying on Simply
27:00
Bitcoin, but on the corporate press for, you know, all the
27:03
boomers out there? So First off, I want to give a
27:06
shout out to the YouTube live stream.
27:09
Of course we broke 600 live viewers.
27:11
Currently at 624 we're at 157 likes.
27:14
Help us break 200 likes within the 1st 45 minutes of the show.
27:20
So if you guys are enjoying the show so far, make sure to smash
27:23
that like button. Of course.
27:24
Shout out to Rumble and X. On the verge of breaking 2000
27:28
live viewers. I appreciate y'all.
27:31
Anyways, so a couple thoughts. You know, Pomp got a lot of heat
27:35
for recommending certain products earlier on with his
27:40
podcast. And what I got to say is, you
27:44
know, and this perhaps is a little bit unpopular, appreciate
27:46
the ZAP. We are streaming ladies and
27:48
gentlemen on on Noster and we are uploading also simply
27:53
Bitcoin content on Noster via Primal.
27:56
Appreciate the Primal guys for helping us out and giving us the
28:00
ability to do that. But anyways, back to Pompliano.
28:04
So, you know, Pomp got a lot of crap for, you know, some of the
28:08
some of the things some of the sponsors that he had earlier on
28:11
and you know, unfortunately some of them went down.
28:14
What I got to say about that is, you know, first of all, it's
28:17
it's very, very difficult to run a media business in this space.
28:22
And, you know, I respect all content creators and I think
28:25
Pomp has incredible takes when he goes on the legacy media.
28:29
And we all have to remember that, you know, us Bitcoiners,
28:33
we make content for other Bitcoiners or people that are
28:37
currently seeking Bitcoin. That's why these legacy media
28:41
interviews are so important because he's essentially
28:44
breaking the echo chamber every time he goes on there and he
28:46
drops his knowledge. You know, he is, he's
28:50
essentially, you know, talking the Bitcoin gospel.
28:53
I, I find it funny when they asked him about the price
28:56
prediction and, and he, he didn't want to answer that in
28:59
regards to that. I mean, like, dude, like, you
29:01
know, I think, I think, you know, when people disagree, I
29:05
think the general consensus right now on, on X is that, you
29:09
know, bitcoins going to hit a hundred 150K200K.
29:12
That's it. It's going to go back down.
29:14
I'm a much more bullish than that.
29:15
I mean, I had doctor Jeff Ross on the show the other day and
29:19
he's speculating and he's talking about a $475,000 Bitcoin
29:23
in 2025. And what I got to say is I think
29:26
bitcoiners, us Bitcoiners have completely forgotten what a bull
29:29
market feels like because a real bull market hasn't happened
29:32
since 2017. And Bitcoin tends to do the
29:35
exact opposite of what the general consensus is.
29:38
So I would not be, you know, I would not be surprised at all
29:44
that, you know, I would not be surprised at all that if I would
29:50
not be surprised at all if you know, like Bitcoin over
29:55
performs. And what I've also noticed too
29:58
is it's not only Pomp, it's also Natalie.
30:02
They've, they've been regularly getting Bitcoiners on legacy
30:06
media to talk about Bitcoin. And it's because the price
30:10
appreciation and of course, Michael Saylor's stock is
30:13
outperforming the rest of the S&P 500.
30:15
I mean, that's news, you know. So shout out to Pompiliano.
30:19
I know some Bitcoiners are not the biggest fan.
30:21
I like Pomp, I like his takes, and I think he does a great job
30:26
when he goes in there and just educates the masses via the
30:31
legacy media. And I think the anchors are
30:33
starting to pick up on it. I mean, Opti, you're one of the
30:36
first people to point this out, like Squawk Box, Joe Kern, I
30:41
believe that's his name, regularly defends Bitcoin.
30:45
And, you know, and you would have thought five years ago that
30:48
would have never happened. So we're clearly making
30:50
progress. I mean, if you have the
30:52
president of the United States coming in, being sworn in
30:54
January 20th, wishing Bitcoiners happy birthday, I think that's
30:59
like, you know, that's the definition of winning.
31:01
We're we're definitely breaking the echo chamber.
31:03
So we just got to keep on the pressure.
31:05
We got to keep on, you know, spreading the word of Satoshi
31:10
and we got to get more people buying Bitcoin, taking that
31:13
Bitcoin into self custody. And this is how we're going to
31:15
win anyways. I'm going to pass it on to Tony.
31:17
Tony, what are your thoughts on Pomp's legacy media interview?
31:21
Man, it's great what he's doing. I am familiar with what he used
31:24
to do in the past and I guess that's OK, man.
31:26
I mean, we, we, we all start, you know, the wrong way.
31:29
And as long as you adjust properly over time, you know,
31:32
and the end result really is, is what matters.
31:35
All this attention towards Bitcoin, all this high signal is
31:38
extremely bullish. I used to be more of the mindset
31:41
of a like Bitcoin has to be adopted like the purest way, the
31:43
way I want to see it done. But you know, you know, over
31:46
time, I just quickly understood that that's not the way the
31:49
world works. Unfortunately.
31:51
We want everyone to get into Bitcoin.
31:53
Like, I don't really care at this point how you get into it,
31:55
as long as you start paying attention to it and start
31:57
benefiting from the technology. But what I want to stress is we
32:02
shouldn't forget that Bitcoin was created for us.
32:06
It was created for the people. I mean, it's, it's amazing that
32:10
governments are now following in and institutions are following
32:13
in. But Bitcoin wasn't created for
32:16
them, right? I mean, they've already, they've
32:18
always been rich by manipulating and corrupting the money and
32:21
printing it to oblivion. That's they've always had
32:24
wealth. Bitcoin was the first time in
32:26
history where normal 8 billion folks, you know, even a high
32:31
percentage of them that have never had like a dollar to their
32:34
name, so to speak. Now there's this once in a
32:37
history opportunity to take that back and like to to regain the
32:42
power and actually be able to save, you know, their time and
32:45
energy to something that 100% belongs to them.
32:48
That can't be Co opted by anyone, that can't be shut down
32:51
by anyone simply because they don't like your face or your
32:53
opinion. I mean, this is what Bitcoin is
32:56
about and Bitcoin will only win as long as it remains
33:01
decentralized. This is something that I don't
33:04
want people to forget because they're getting caught up and
33:07
the number go up and the government FOMO and the
33:09
institutional FOMO. All of that is great, but
33:12
fundamentally, none of it matters if Bitcoin doesn't
33:15
remain decentralized and secure. And the only way this is going
33:19
to happen is when folks understand that you need to take
33:23
it into self custody and not, you know, give in to the
33:27
complacency and conveniences of all the false advertising that
33:32
sometimes, you know, I hear going on in the space.
33:35
I mean, we've to really understand Bitcoin, you have to
33:40
unlearn and let go of many beliefs that you were
33:44
essentially taught since the day you were born.
33:46
And I understand that this is extremely hard to do because
33:50
essentially you're admitting to yourself that you've been a
33:52
sucker your entire life and you've been lied to and, you
33:54
know, you've just been part of that rigged system happily.
33:59
Well, you know, I thought everything was normal until my
34:04
entire life blew up and only then did I dive in and uncover
34:08
the truth. And it's like once you once you
34:11
understand where the like how the system is played and where
34:15
the Fiat money comes from, its origins, the Ponzi, the fraud,
34:18
the scam that it is, you know, the system that was designed to
34:22
steal sensor and control, that is the Fiat system, nothing
34:25
more. Once you understand that, you
34:27
start seeing the world from a very different lens.
34:30
And once you have those binoculars on, you can never
34:33
take it off all right. And, and I am extremely bullish
34:38
because over the last two years, you know, I've seen a tremendous
34:42
increase in enormous interest in Bitcoin.
34:47
But like the right way. So you know, when you take these
34:51
binoculars and you pass it to someone and you tell them, look,
34:54
this is what I'm seeing, This is why I'm excited.
34:57
And then they look through it and they get it.
35:01
That's one more person that comes into this army of people
35:04
that keeps Bitcoin decentralized because without this, none of it
35:09
matters. So it's really important to to
35:13
appreciate that, you know, Bitcoin in self custody.
35:17
That is the revolution, you know, like none of this good
35:20
news and excitement and Bitcoin is winning talk like goes
35:26
anywhere if it doesn't remain fully decentralized and and
35:31
secure. I believe it's going to continue
35:33
happening because there's tons of people that are finally
35:37
clicking in that are finally coming into this space the right
35:40
way. They are ignoring the false
35:42
advertising. They are ignoring the false
35:44
marketing. You know, they are taking full
35:46
self custody and understanding that the personal responsibility
35:50
around owning your money is not nuclear science.
35:53
It's not that hard. It's just a it's just a brand
35:56
new series of steps that you have to understand.
35:59
Some people will learn it, you know, on their own because
36:01
there's plenty of great resources online for that.
36:03
Others will come to the experts that will give you an instant
36:07
shortcut through the trials and errors so you don't have to risk
36:11
your funds and waste weeks or months or years figuring it out
36:15
on your own simply because you don't come from the tech world,
36:17
right? So if you're in Bitcoin today,
36:20
you've already won. That's it.
36:22
You know, like, I mean, they've thrown everything at Bitcoin for
36:25
the past 15 years and Bitcoins future is exponentially
36:29
monumentally larger than anything you think you possibly
36:32
missed by not getting into it in 2009 and 2010.
36:37
That, you know, back then only like a fraction of the
36:40
population was paying attention to it.
36:42
Now you've got 8 billion people, every single government, the
36:46
biggest institutions in the world, they're all following
36:49
into it. So if you want to, if you want
36:52
to still denominate Bitcoin and you know, an inflationary system
36:56
that it was designed to replace, well then if you're looking at a
36:59
price target, you know, even a point 0.1 Bitcoin can equate to
37:04
like $84,000,000. You know, and that can happen
37:07
like this. I mean, I think as soon as 2025
37:10
next year, if, if Donald Trump does, I don't know, 25% of
37:15
everything that he's claiming to do, you'll wake up one day with
37:19
that a mega candle. And then the world would like,
37:22
what the hell just happened overnight?
37:24
Well, you know, what happened overnight is that all of these
37:26
big institutions and government are buying in the billions of
37:31
dollars quietly. But the reason it's not
37:33
reflected right now in the price is because they're doing it OTC.
37:37
They're not buying it off the public market.
37:38
Because, you know, if they were to do that, then you'd see the
37:41
craziness happen in the next 5 minutes.
37:43
But they're not doing this. I don't know why they're not
37:46
doing this yet, but at some point, you know, the Otcs will
37:49
eventually run out and there'll be no other choice than to buy
37:52
it publicly. And that's when the dam breaks
37:55
loose. So if you're still sitting here
37:57
lingering wondering if Bitcoin is a scam or if it's something
38:00
you should get into, well, you know, your, your window, you
38:04
know, was already small. Now it's like almost like a
38:06
pinhole small. So if you don't get off, you
38:09
know, and do something, you're going to be left out of the
38:13
biggest opportunity we've ever seen to create and a mass
38:16
generational wealth. You'll still benefit at some
38:19
point from Bitcoin by earning it.
38:21
That's fine. But you know, to be able to
38:23
front run all the big boys, you know, which was again, the idea
38:26
behind the creation of Bitcoin is to give the people back that
38:30
opportunity, right? So if you're not doing anything,
38:33
well, just you're just wasting it.
38:35
But those that are in it, pat yourself on the back.
38:38
You are solid winners, my friends, and as long as you're
38:40
holding your own keys, you know nothing.
38:43
Nothing will stop you. You are unconfiscatable.
38:46
I love that. I love that unconfiscatable and
38:49
one of the things that really resonated with me, Tony, was and
38:52
when you said, and I think you hit the nail on the head.
38:55
If you're in Bitcoin right now, you've already won.
38:58
It's it's not a matter of it's a, and I know you might not feel
39:02
it now. It's just a matter of, of just
39:04
just wait it out. You're going to see five years,
39:06
your life is going to be radically different.
39:09
And let's just say your class of 2024, you know, when you're just
39:14
getting in, you're like God damn, Nico, my first Bitcoin
39:16
price is like 100 Ki felt the exact effing way.
39:20
First time I bought Bitcoin, it was like 6600 dollars, $700.00.
39:24
And I was hearing stories from bogs that were buying Bitcoin at
39:29
a dollar or $13 or $100. And I was like, dude, like I
39:35
missed the boat. Like, this is over, this is
39:36
done. I wish I did more to stack back
39:39
then. And when Bitcoin inevitably
39:42
reaches 10 million per coin, I don't think it's a question of
39:45
if. It's a question of when.
39:47
That's not financial advice. But I mean, look, I, I, I, I
39:51
preach what I do myself, right? But you know, when, when Bitcoin
39:56
eventually I believe reaches new heights, you know, you're going
39:59
to look back and you'll be like, dude, I wish, I wish I was able
40:02
to buy at 100K, right? Like Bitcoin is savings and
40:06
Bitcoin will give you the ability to live a deflationary
40:11
lifestyle. Meaning, and I know that's not
40:13
the correct terminology and whatever, but what I'm trying to
40:16
say is if you're on a Bitcoin standard and you're saving and
40:19
you're earning a Bitcoin or converting the Fiat that you
40:23
earn to Bitcoin, you will see that your life gets
40:26
progressively cheaper over time. Goods and services, the real
40:31
estate, the things around you are literally going down in in,
40:35
in, in Bitcoin terms, right. And if you're on a Fiat
40:39
standard, it's the exact opposite.
40:41
Things are getting progressively more expensive, making forcing
40:44
you to work harder, forcing you to think short term because it's
40:49
very nihilistic. You feel like you have no hope
40:51
for the future. So when Tony says if you're in
40:54
Bitcoin now you've already won, that's exactly what he means.
40:58
It is the cheat code to you know, your, your, your, your
41:02
financial future. That's what we believe
41:03
wholeheartedly, yet simply and of course, you know Tony.
41:06
I know for a fact he does as well.
41:08
All right, everybody, let's get to news.
41:11
We have tons to talk about. I do want to give a shout out to
41:13
the chat again. We have broken 2000 live viewers
41:16
on the live stream. Almost 100 of you guys watching
41:19
on Rumble and on YouTube. Oh my God, almost 700 guys,
41:23
we're on the verge of breaking the 250 like goal.
41:26
Let's raise that up to 300. 100 likes.
41:30
If you guys are enjoying the show so far, make sure to smash
41:33
that like button. Help us get 300 likes before the
41:38
end of today's show. Alright everybody, no more
41:41
delay. Let's jump straight into the
41:43
news. We have tons to talk about.
41:45
Let's check it out. I want to give a very special
41:48
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All right, everybody, so Opti's on the go.
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I'm on the go too, and we don't have the passport with us.
43:44
But guys, not your keys, not your cheese.
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You want to take self custody? I'm just still going to make
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Opti full screen Opti. There you go guys.
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Not your keys, not your keys. You want to take self custody of
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It could come with. Opti the right code?
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No, I'm just here. I'm just here.
44:18
All right, anyways. OK, guys, we got some
44:21
interesting news coming out of Wall Street.
44:24
First, I think we're going to with this news answer a lot of
44:28
questions and also I think you know, Michael Saylor will also
44:32
be vindicated once you hear these news stories.
44:34
So first and foremost, I'm over here on coin Telegraph with the
44:37
headline Trump link stride files for quote Bitcoin bond ETF.
44:43
The fund aims to offer exposure to micro strategies, convertible
44:47
bonds, among others. Now go going into this a little
44:50
more and the very, really interesting aspect of this is
44:54
who owns this company? So Strive, an asset manager
44:57
founded by Vivek Ramaswamy, asked United States regulators
45:01
for permission to list an exchange traded fund and ETF
45:04
investing in convertible bonds issued by MicroStrategy and
45:08
other corporate Bitcoin buyers, according to a December 26th
45:11
filing. The ETF seeks to offer exposure
45:14
to quote Bitcoin bonds described as convertible securities issued
45:18
by MicroStrategy or or by other companies that plan to invest
45:21
all or a significant portion of the proceeds to purchase
45:25
Bitcoin, according to the filing.
45:27
And I do have the filing over here guys.
45:28
You can check it out yourself, but micro strategy is very
45:31
clearly named in this throughout the whole thing.
45:34
You know MicroStrategy is the world's first and largest
45:37
Bitcoin treasury company, meaning it has adopted Bitcoin
45:40
as its primary treasury reserve asset.
45:42
Its strategy to acquire Bitcoin, develop product innovations that
45:45
leverage Bitcoin and advocate for the acceptance of Bitcoin
45:49
and the Lightning Network and of course, referencing their huge
45:52
holdings of Bitcoin. Now going back over here, the
45:56
Stride Bitcoin Bond ETF will be actively managed and will gain
45:59
exposure to Bitcoin bond either directly or through financial
46:03
derivatives such as swaps and options.
46:05
Strive has not yet specified the management fees.
46:08
And then moving forward, of course, they're kind of breaking
46:10
down the Bitcoin bond. Beginning in 2020, MicroStrategy
46:14
has spent about $27 billion buying Bitcoin as part of a
46:17
corporate treasury strategy spearheaded by Co founder
46:20
Michael Saylor. And then of course, it's stock.
46:22
MicroStrategy MSTR has gained more than 2200%, outperforming
46:27
every sizable public company except for NVIDIA.
46:31
And then of course, you know, it's a fine finance these buys
46:34
by this convertible bond strategy.
46:36
We've been covering this throughout the year, all, all of
46:39
the details around this. And of course, they are opening
46:42
up the option to essentially do the same thing with other
46:46
companies. Now this story is also
46:49
interesting considering that Bitwise also did a very similar
46:54
play. Bitwise files for a quote, you
46:57
know, Bitcoin Standard Corporation ETF, which would
47:01
essentially invest in only companies that have adopted a
47:05
Bitcoin standard, which they define as holding at least 1000
47:09
Bitcoin in corporate treasuries. So you're seeing 2 very similar
47:14
plays happen right now in this ETF.
47:15
Finally, obviously the MicroStrategy strategy is
47:19
catching on and everyone is looking at MicroStrategy and
47:22
Michael Saylor and either one, wondering how they can do it
47:25
themselves or two, looking for exposure.
47:29
And so I find it, there's two things that I find very
47:31
interesting here. 1 is the fact that Vivek Ramaswamy's company,
47:36
Strive, is essentially investing in MicroStrategy.
47:40
They want that MicroStrategy exposure basically giving a
47:43
tacit approval of Bitcoin. And I literally saw someone in
47:46
the chat earlier essentially, you know, I think the main
47:48
question here for a lot of us Bitcoiners in regards to the
47:51
Trump administration is whether they're going to follow through
47:54
with their whole Bitcoin strategic reserve plans, whether
47:57
they're going to have some favorable regulation for
47:59
Bitcoin. Well, it looks like the Trump
48:02
administration and Trump himself and people around Trump are
48:06
going a full bore into Bitcoin. Obviously, Vivek, he's not
48:10
necessarily in the government right now.
48:12
He's going to be a part of the DOGE, you know, Department of
48:15
Government officials efficiency. So you're seeing that a lot of
48:17
people around Trump are very actively pursuing getting
48:21
Bitcoin, Bitcoin exposure, associating themselves with
48:24
Bitcoin. And let's not forget that Strive
48:27
by Vivek was actually backed by Howard Leutnick, who is now,
48:31
what is he Nico? Is he not Treasury Secretary?
48:34
Commerce, he's head of. And then of course, another big
48:39
Steve behind the Strive management is.
48:42
Talk to your table. Is, is Palantir, Joe Lonsdale as
48:48
well as Peter Teal, Steve's funding.
48:50
So there is, you know, some concerns in regards to that, but
48:53
it's starting to show that, hey, it looks like the Trump
48:56
administration is going to be very pro Bitcoin.
49:00
They're getting Bitcoin exposure.
49:02
They want Bitcoin exposure. It is starting to look like the
49:05
Republicans in the Trump administration.
49:07
They want Bitcoin to win. Remember Trump said he wants 150
49:10
K Bitcoin. I would think day one, but he
49:13
wants 150 K Bitcoin very early in his presidency.
49:16
It seems like he is kind of linking his reputation to
49:19
Bitcoin winning, which is, you know, good and bad, I would say.
49:24
But the second part is micro strategy.
49:26
Strategy, I think is being completely vindicated and
49:30
everyone on Wall Street is looking at Bitcoin and and
49:33
basically essentially either going to follow still or wanting
49:37
to get Bitcoin exposure. Now.
49:40
Nico said this all year. Taylor's been putting on a
49:42
master class throughout the whole year showing Wall Street
49:45
how to get Bitcoin. Now, I'm sure there's some bit
49:49
corners that are kind of, you know, drinking the haterade
49:52
around Sailor and MicroStrategy acquiring that much Bitcoin, but
49:56
the signal is there. Again, the receipts for 2024, I
50:00
think prove very clear cut that you add Bitcoin to your personal
50:06
company treasury, even your nation state treasury and it's
50:10
going to benefit you. And now more and more people are
50:13
waking up to the strategy and it seems like you know, the the
50:17
Nancy Pelosi trading is going to have, you know, a run for its
50:23
buck. If Bitwise is going to invest in
50:25
just Bitcoin, what's it strategic reserve fund?
50:30
And then you also have Strive from Vivek essentially just
50:35
going to invest a bunch of money into MicroStrategy.
50:38
So it's definitely some Wall Street games playing out, but
50:41
the signal remains the same. Bitcoin is the best performing
50:44
thing, period. And you want exposure to this,
50:46
obviously here at Simply Bitcoin and of course, Tony at the
50:49
Bitcoin Way, we argue you want Bitcoin in cold storage, you
50:53
want Bitcoin in self custody. But I think this is just that
50:57
that coming wave of Wall Street's interest in Bitcoin and
51:01
the tsunami of capital that is eventually going to end up at
51:04
Bitcoin. So very interesting developments
51:06
we got yesterday. Now I'm gonna pass it over to
51:09
Tony because we are going to be talking about self custody in a
51:12
few minutes with the Bitcoin way.
51:14
So maybe we get, you know, Tony's take on why we need to
51:18
take Bitcoin into self custody. But what's your thoughts on
51:21
Vivek? Basically, you know, investing
51:24
or making an ETF around MicroStrategy?
51:26
We're seeing Bitwise do ETF on the Bitcoin strategic reserve
51:30
strategy. So what's your thoughts on the
51:33
whole MicroStrategy strategy? I think he's been completely
51:35
vindicated this year. Yeah, absolutely, man.
51:38
I mean, Michael, Michael Saylor has been a very positive force
51:41
in the Bitcoin space. You know, he brings in a lot of
51:43
knowledge, that's for sure. Now, how exactly his micro
51:46
strategy concoction works, I have to admit I don't fully
51:50
understand it other than I know it's extremely profitable and
51:53
it's making the people a lot of money.
51:55
However, I mean, as far as I'm concerned, I mean, this is not
51:59
Bitcoin, right? This is, I guess, like exposure
52:02
to Bitcoin because at the end of the day, it is the best
52:04
performing asset. No matter where you put it, it's
52:07
always going to do well. But you know, from from the
52:10
world that I come in, I come from and the lens that I view
52:13
the world. I mean, I personally wouldn't
52:16
invest in something like micro strategy because I don't believe
52:19
in Fiat. Like I don't see the dollar as
52:22
money anymore. I don't see any Fiat currency as
52:25
as money anymore. So instead of, you know, placing
52:28
my risk and time and energy into something that for me is
52:32
essentially worthless, I would much rather invest into,
52:36
directly into Bitcoin, which is the the underlying performing
52:40
asset and hold it myself. Because no matter what happens
52:44
above that, all the attention that's happening in the space
52:46
and there's a lot of it coming in with Wall Street coming in
52:49
and the government's an institution, yes, it's a ton of
52:52
money. So all of that, you know, it'll
52:55
play out the way it plays out. But fundamentally, whoever is
52:58
holding the asset himself or herself in self custody is going
53:04
to be like catapulted into generational wealth that the
53:09
world has never known before. Because all of this multiplier
53:12
effect of all of these other activities happening over
53:16
Bitcoin benefit the ones holding it in full self custody.
53:21
This is this is always been my, my view on this.
53:25
And so Bitcoin's for everybody, you know, they want to play
53:28
these Fiat games with it. No one can stop them.
53:30
You know, I mean, it's people can do whatever they believe
53:33
will serve them best. And for those that believe in
53:35
that model, well, they're welcome to to participate in it.
53:39
But ultimately I believe that anything that is not full
53:43
Bitcoin and full self custody is a risk and will end up
53:46
backfiring at some point in time.
53:49
So that is, you know, that is our view on this and our ethos
53:54
behind everything that we do. Totally, totally.
53:58
Nico, I don't think we need to rehash your view on Michael
54:03
Saylor being vindicated this year.
54:05
I think for you, I think the more interesting angle is this
54:09
idea now of it looks like Trump might be following through very
54:15
clearly and heavily in the Bitcoin space considering a lot
54:18
of people around him are very pro Bitcoin.
54:21
So what's your take on Vivek's micro strategy ETF right now and
54:27
the connection with Trump? Yeah.
54:29
So first I'm looking at the the Poly market odds right now.
54:32
And and for anyone who doesn't know, betting odds tend to be
54:35
more accurate than polls and any other prediction on any other
54:39
predictors. They the The odds right now that
54:44
Trump will make Bitcoin a reserve in the 1st 100 days,
54:47
according to Polymarket, is 29%. That's what the market is
54:51
thinking now in regards to the incoming Trump administration.
54:55
We got so much. We still do.
55:00
Do for talking about this, and the reason we kept talking about
55:06
this is I'm like, guys, not that Bitcoin needs a politician.
55:10
In fact, that would make the argument that politicians need
55:12
Bitcoin to stay relevant. But I said that from a
55:16
regulatory perspective, the put all his policies aside, we're
55:21
single issue voters, We're Bitcoiners first.
55:23
But from a policy perspective, from a regulatory perspective,
55:27
it would have been incredibly PO positive for him to win and it
55:31
would have been negative for Biden to win another term from a
55:36
regulatory standpoint, without a shadow of a doubt.
55:39
And we got so much crap for it. We felt like we had to say
55:42
something. The Samurai wallet guys were
55:44
arrested. And then here we are not even a
55:47
month after the election, Trump isn't even sworn in yet.
55:51
You know, price of Bitcoin is sitting roughly at 100K.
55:54
And you're listening to members that are going to be part of his
55:58
cabinet, are working closely with him, you know, heavily
56:02
invested in the space, in the industry like elect.
56:07
I can't say this again. Elections have consequences.
56:11
I know we all want to live in this world from the sovereign
56:14
individual where, you know, politics is irrelevant.
56:18
You know, the nation state is not what it used to be, but
56:21
we're not in that world yet. We're in the transitionary
56:24
period. And in the transitionary period,
56:26
unfortunately, Fiat elections still have significant
56:30
consequences for everyday life, specifically if you live in a in
56:35
in a specific jurisdiction. If you live in a specific
56:38
jurisdiction and they have hostile Bitcoin regulation,
56:41
you're not going to be able to start a Bitcoin business there.
56:43
You'll be able to use Bitcoin, but like under, you know, under
56:46
the table essentially, so, you know, if Bitcoin gives you the
56:49
power to move with your feet. But, you know, Opti and I were
56:51
seriously considering going to El Salvador when Operation Choke
56:56
.2 point O was at its height, you know, So yeah, I think it's
57:00
incredibly bullish because no one is better than their
57:03
incentives. Fundamentally, people are run by
57:05
incentives. And if you have like the Trump
57:09
cabinet as hardcore, you know, heavily, heavily invested in the
57:18
Bitcoin ecosystem, in the Bitcoin space, I mean, that is
57:24
massive. Like, you know, that's, that's
57:26
huge because they would be acting out of, they would be
57:30
acting against their own interests if they tried to pass
57:33
any type of anti Bitcoin regulation.
57:36
And I'll say this, you know, do you think it's a coincidence
57:38
that Trump is, you know, like that?
57:40
He said the other day, he's like, it doesn't make sense that
57:43
Bitcoin has capital gains because Bitcoin is money.
57:45
Like, what is that going? What's what's happening there?
57:48
Like, do you think he's saying that like, oh, like these
57:51
Bitcoiners are so great and he's saying that because he probably
57:53
has some, you know, he's saying that because the people around
57:56
him own Bitcoin. We know for a fact that the vice
57:59
president, JD Vance owns Bitcoin.
58:02
Like that is confirmed. David Bailey gave Trump a
58:07
Bitcoin at the Bitcoin conference.
58:09
Like the like the physical Cassacius coins.
58:11
I don't know how to pronounce that.
58:13
A physical Cassacius coin to Trump on stage at the Bitcoin
58:16
conference, like aligned incentives, You know, so it is
58:20
incredibly positive. And now that Vivek is talking
58:25
about a MicroStrategy ETF, like what?
58:28
Like MicroStrategy essentially acts like a Bitcoin proxy.
58:33
Like if you're buying MicroStrategy, you're buying
58:35
MicroStrategy to get exposure to Bitcoin.
58:37
So the fact that a guy that is working so close to Trump is
58:41
actively going out and where do you think the price is going?
58:46
Like it's not rocket science, but I think a lot of us don't
58:49
believe it. We do not believe it because we
58:52
have PTSD from 20/21 when the CCP banned Bitcoin mining in the
59:00
middle of the parabola and it literally took the life out of
59:05
Bitcoin and you saw the hash rate drop 50%.
59:09
The price quickly followed and then it slowly recovered.
59:12
And then we had that like lame double top and we were all like
59:16
over underwhelmed. We were like, dude, this sucks,
59:18
this sucks. This is this is like, you know,
59:21
this this it's not what happened.
59:23
So it's very difficult to conceive a parabola in Bitcoin
59:28
because we really haven't had one since 2017.
59:32
Now, am I saying we're going to get A20XI mean that would be
59:36
$2,000,000 per coin. I highly doubt that anything can
59:39
happen. But even if it does a quarter,
59:42
even if it does half of that, 1/4 of a 20X is a 5X, right?
59:49
5X from 108,000, that's more than a half, $1,000,000 per
59:54
coin, right? Like at a 2X which I think would
59:57
be a let down next year, that would be 216,000 from the all
1:00:03
time high of 108 that we hit earlier on.
1:00:06
Like a 3X would be at $300,000 per coin.
1:00:10
Like you would lose your mind at $300,000 per coin, right.
1:00:13
So, you know, all the, the, the, the regulatory planets are
1:00:18
aligning on the corporate level. All the corporate level planets
1:00:23
are aligning Metaplanet, MicroStrategy, Bitcoin.
1:00:26
Well, all these companies are, you know, again, I agree with
1:00:29
Tony. I don't know what what's going
1:00:31
on back there, but you know, it looks like Bitcoin is helping
1:00:35
their, their, their, their, you know, their corporate strategy.
1:00:39
And then of course, you know, the price of Bitcoin keeps going
1:00:43
up. So yeah, this is incredibly
1:00:46
bullish. I can't emphasize that enough,
1:00:47
but I'll leave it at this. There's two things that are
1:00:50
happening in Bitcoin. There's two phenomenons.
1:00:52
There's the investment, Bitcoin as an investment and there's
1:00:56
Bitcoin as a revolution, right? I'm a millennial.
1:00:59
So is Opti. And I know that Tony, because
1:01:02
he's told us his story, has lived through the collapse of
1:01:07
money. OK.
1:01:08
And I'm not here for the investment.
1:01:12
I'm here for the revolution. I think I want a world where my
1:01:16
daughter lives in a world where, you know, the in a world where
1:01:22
money is separated from state. Just like we just went through
1:01:26
the transition of separation of information and state.
1:01:29
We just went through that Elon acquiring X, the rise of Noster,
1:01:33
the rise of free speech platforms like Rumble.
1:01:36
We already went through the state trying to maintain their
1:01:40
monopoly in the narrative control over media.
1:01:44
And then we just went over that hump and now we're heading into
1:01:47
the final boss and the final boss.
1:01:49
And that hump I think is going to be a lot steeper.
1:01:52
It's going to be a lot harder to get over is the separation of
1:01:54
money and state. Because once again, I can't
1:01:56
repeat this enough. The state, the government gets a
1:01:59
tremendous amount of power from being able to create money for
1:02:02
free that everyone else has to work for.
1:02:05
And what Bitcoiners are advocating for.
1:02:07
And don't let anyone demonize you for thinking this.
1:02:10
All we want is a world where you don't have to.
1:02:14
You don't have to work for money that another man can create for
1:02:18
free. That's all we're asking for.
1:02:20
So all the people that talk about equality and equity and
1:02:23
democracy, how is that? I would say those are supportive
1:02:28
of those ideas. I would say the idea that a
1:02:32
group of people that a bureaucratic elite have the
1:02:36
privilege of being able to create money at no cost to them
1:02:41
is more equal to a system that no one has that privilege.
1:02:47
What system is more equal? And then the other narrative
1:02:49
that I'll say because I'm ranting on a little bit, but
1:02:51
it's Friday, I'm on and I'm, I'm having a good time because
1:02:54
Tony's here. The last thing that I'll say is
1:02:57
one of the narratives that I've seen Elizabeth Warren use is
1:03:00
saying stuff like, you know what?
1:03:04
Bitcoin is private money and the dollar represents the public.
1:03:09
It's public money that is BS. Can you audit the Fed?
1:03:16
Could you audit the dollar? No.
1:03:19
Can you create more dollars? No.
1:03:20
You go to prison. That's that's that's
1:03:23
counterfeiting, right? Do you know what the monetary
1:03:27
policy is going to be, you know, six months from now?
1:03:30
No idea. That's what they say is public
1:03:34
money. The other is an open Ledger.
1:03:39
We know what the monetary policy is gonna be for the next 100
1:03:41
years, and anybody could audit the chain anytime they want.
1:03:46
They run a node, What's up? And no one has the ability to
1:03:50
create more of it. I mean, if you do create more of
1:03:53
it, you have to pay a cost just like everybody else.
1:03:56
What sounds more public and private to you?
1:04:00
So anyways, I'll leave it at that.
1:04:01
Guys, stay tuned. We're going to hit the culture.
1:04:04
We're going to talk to Tony about the Bitcoin way.
1:04:07
They're your personal Bitcoin IT team and they'll they'll help
1:04:11
you guys take self custody, run a node, all of that stuff
1:04:14
because we got a lot of questions about that in the
1:04:16
chat. You got to go check out our
1:04:18
friends over at the Bitcoin way. We'll be right back.
1:04:20
We're going to hit the culture. I want to give a shout out to
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They have the BBQ, they have the workstations, they have the
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It's awesome. It's a great time, great
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This is how consequential this conference was for my business
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The entire Simply Bitcoin crew is going to be there.
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Ruston, Dante, Opti, Nico, Sophie, Jacob, the entire, you
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know, X crew or some of them at least.
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Anyways, I want to take advantage of the fact that we
1:06:49
have Tony from the Bitcoin way here in the house.
1:06:53
Tony, what we were talking about earlier before we went live is,
1:06:59
you know, we've been seeing a lot of talk.
1:07:00
I don't want to name any names, but these ideas being planted on
1:07:06
X about this idea of most people, they would be better off
1:07:12
with custodians. They would be better off with
1:07:14
other people holding their money.
1:07:16
It's like this narrative shift that has actually come out of
1:07:20
again, I don't wanna name any names out of the Bitcoin
1:07:23
community lately, some members of the Bitcoin community lately,
1:07:29
of course, of us Maxis, you know, not your keys, not your
1:07:33
Bitcoin, right. So what what is your response to
1:07:35
that? Like what what's your what's
1:07:37
your take on this kind of normalization of custodians?
1:07:42
I, I would even say that it's it's some type of attack.
1:07:46
I see it as an attack because I'll tell you what guys, without
1:07:50
self custody, Bitcoin will become just like gold.
1:07:53
It will be Co opted. You'll see paper Bitcoin.
1:07:57
They'll use paper Bitcoin to surprise the price of Bitcoin,
1:08:00
therefore the adoption of Bitcoin.
1:08:02
Like you know, I'm seeing this and I'm like guys, what is this?
1:08:05
Like you know, like what team are you on?
1:08:07
What's going on here? Yeah, man, it's utter.
1:08:11
It's utterly disgusting and disgraceful to to read this in
1:08:14
this space. I mean, I've always said there's
1:08:16
a lot of Bitcoin influencer slash hypocrites that are out
1:08:21
there. And you know, when you start
1:08:23
hearing comments and reading comments like this, all it does
1:08:26
is is cement that without the decentralization of Bitcoin,
1:08:31
there is no Bitcoin, there is no revolution.
1:08:33
Pack your stuff, go home, go find the job at McDonald's.
1:08:35
Nothing changes at that point. You understand the whole, the
1:08:38
whole premise of why the world is changing the way it is, is
1:08:42
because we have the the money that nobody can Co opt and
1:08:46
control and do anything with other than use, right?
1:08:49
That's the whole part of the decentralization.
1:08:52
But you have to own it. So to have people that talk
1:08:55
about Bitcoin all day, claim it's the best thing under the
1:08:57
sun, then go make these irresponsible comments that
1:09:03
people holding a certain amount of wealth $1,000,000 or up
1:09:06
should are better off at an ETF because they're too stupid to
1:09:09
learn how to hold their own money.
1:09:11
That is disgusting and disgraceful and utterly
1:09:13
irresponsible. When you start bringing in 3rd
1:09:16
party custodians into Bitcoin, what are you doing?
1:09:19
You are breaking every single rule of what this whole
1:09:23
revolution is about and you should you should be banned and
1:09:26
blocked and ignored completely for for making such utter utter
1:09:30
nonsense remarks in the space. So it's it's very appalling to
1:09:35
to have to read and have to put up with this because
1:09:37
unfortunately these people are play, are playing and praying on
1:09:42
the ignorance of the masses. Bitcoin is still a novel concept
1:09:46
to the general population. I mean, 99% of folks are
1:09:50
completely clueless to it. But unfortunately they still
1:09:54
rely on legacy media, They still rely on quote UN quote
1:09:59
influencers. And so when these people start,
1:10:03
you know, spewing these lies, well, those that don't know any
1:10:06
better, well, a lot of them are going to fall for these lies and
1:10:10
at some point they will get hurt.
1:10:13
When you're not doing self custody, when you're involved in
1:10:16
whatever shape, wave or form with a third party custodian, at
1:10:20
one point it's going to blow up in your face.
1:10:23
That is a mathematical certainty.
1:10:25
There's no such thing as good reputation or these people are
1:10:28
nice and these people are polite and I know I like them, I know
1:10:31
them. There's no such thing when it's
1:10:33
a third party custodian. It's a counterparty risk.
1:10:36
Bitcoin wasn't created for this. There's no need for anyone to
1:10:40
put themselves in that predicament, but what they need
1:10:43
to do is take the time to sit down and learn a series of
1:10:47
steps. It's not hard.
1:10:48
Like I said before, this is not rocket science.
1:10:51
We're not, we're not learning nuclear physics here.
1:10:53
It's just a series of brand new steps that need to be explained
1:10:57
in a certain way. Follow proper security protocol,
1:11:00
a little bit of common sense and discipline and everything is
1:11:04
just fine. You know, when you're holding a
1:11:05
significant amount of wealth, you should be at the forefront
1:11:09
of wanting to own your money and not trusting anyone else with
1:11:14
it. Because we've seen time and time
1:11:16
again what happens when you trust third party custodians
1:11:19
that are reputable. We've seen the Mount Gods,
1:11:23
you've seen the FTX. How many times do things have to
1:11:27
blow up for, you know, people to finally learn and understand
1:11:31
this? I mean my story for those that
1:11:33
know it. You know when everything gets
1:11:35
stolen from you? Literally.
1:11:37
Tony, Tony, like we, we got it. We got to hit it.
1:11:39
We got to hit that story of yours because you know, like you
1:11:43
got to talk about your experiences in Lebanon, you got
1:11:45
to talk about what happened to you.
1:11:47
You got to talk about that because that was very, I still
1:11:50
remember that. That's how impactful it was.
1:11:53
And I didn't mean to interrupt you because please share the
1:11:56
details with the 2300 people watching live right now.
1:12:01
Well, basically what happened was that, you know, a few, a few
1:12:04
years ago, in 2019, I, my life was retired, or at least I
1:12:07
thought it was retired. I had, you know, run three
1:12:09
successful businesses. Life was good financially for
1:12:12
me. And then I went to bed one
1:12:14
night, woke up the next day with $70.00 to my name.
1:12:16
Why? Because the banks decided that,
1:12:19
you know, you know, screw the people, we're stealing
1:12:22
everybody's money. So the ATM stopped working,
1:12:24
their credit card stopped working.
1:12:26
Nobody has access to any, any funds in their account,
1:12:28
irrespective of how much money you had in it.
1:12:31
And the worst part is none of these pricks at the bank would
1:12:35
answer the phone. You're a piece of garbage.
1:12:37
Nobody cares. OK?
1:12:39
So when you wake up to something like this, it's like essentially
1:12:42
like somebody dropping a nuke on your life.
1:12:44
You can never prepare for it. No matter how smart and strong
1:12:46
you think you are, something like this will destroy you.
1:12:49
And unfortunately, a lot of folks that I know are no longer
1:12:52
here because of this. So when you experience something
1:12:55
like this, the level of trust that you have in the legacy
1:12:58
system is not at 0. It's at -1 million.
1:13:02
So when you hear people still touting third party custodians
1:13:06
and trusting this and trusting that, you know that that raises
1:13:09
my blood pressure to a point where I almost wish that they
1:13:13
have they go through what I went through.
1:13:15
So if you understand once and for all what the lesson is here,
1:13:19
you understand Bitcoin was created as an exit to that
1:13:22
system. You can no longer like hold on
1:13:26
to the beliefs that the legacy system was created to be nice.
1:13:31
The legacy system is the scam. The idea of having to trust
1:13:35
someone with your money, or worse, need to ask permission
1:13:39
from someone to use your own money is lunacy.
1:13:42
Like you have to be mentally ill to still adhere to that, to that
1:13:47
principle, right? Because first of all, you're
1:13:50
doing this with money. That isn't money.
1:13:52
It is worthless toilet paper that a group of thieves and
1:13:55
literally hit the button and print for free while you have to
1:13:58
go slave from morning to night in order to make it.
1:14:01
And on top of it, they RIP you off with taxes.
1:14:04
And to add to it, they RIP you off with inflation by
1:14:07
continuously printing it because you know they're parasites in
1:14:11
society. They have they offer zero value
1:14:14
other than extracting everything from you.
1:14:16
And so as long as you remain in this broken system, all you're
1:14:20
doing is prolonging the lifespan of that rubbish which is
1:14:25
essentially killing you and your freedom and your your purchasing
1:14:29
power on a daily basis in real. Time.
1:14:32
All right, so we push Bitcoin self custody to everyone.
1:14:37
We do not believe that anyone is incapable of learning a few new
1:14:42
steps. Whatever age you are, whatever
1:14:46
your background is, as long as you're minimally comfortable on
1:14:50
a computer, you have everything you need to master this Florida
1:14:55
State. And we will take you from a
1:14:57
point of knowing nothing to a point of mastering this where
1:15:01
it's as if you've been doing it your whole life, irrespective of
1:15:04
the amount of money that you're dealing with.
1:15:06
So whether you're transacting with $100 or $100 billion, it'll
1:15:11
be the same 62nd transaction action.
1:15:13
You're in, you're out, you're done.
1:15:15
There's no need to stress, there's no need to panic,
1:15:17
There's no need to break a sweat or think you're going to lose
1:15:20
your money because you're holding it and all that stuff.
1:15:22
We teach you everything. We bring in over 25 years of
1:15:26
cybersecurity into the mix to account for any or most extreme
1:15:31
scenarios that other people will not even think of unless they
1:15:35
come from that world. And so when they decided to
1:15:38
destroy my life, what happened is that they weaponized me into
1:15:42
a tool of education. My mission here, I've said this
1:15:44
many times, is not to make money.
1:15:46
My mission here is to educate, to build an army of people that
1:15:51
understand that the legacy system must go and be replaced
1:15:56
by one that can no longer be manipulated by any human being.
1:16:00
And so all this bullish news that you hear about Bitcoin is
1:16:04
fantastic, but none of it benefits you specifically unless
1:16:09
you have your own reserve, your own strategic reserve in your
1:16:14
possession. I don't care what BlackRock is
1:16:17
doing. It doesn't benefit me.
1:16:18
It doesn't benefit you. I don't care what micro strategy
1:16:21
is doing. It's good for the space, but is
1:16:24
it good for you? That is the question 8 billion
1:16:27
people at some point are going to have to ask themselves.
1:16:30
Because if you do nothing, you will end up in a predicament
1:16:34
where either your funds will be stolen from you the way they
1:16:36
were from me, or they will keep them in the bank account, but
1:16:40
their purchasing power will be castrated to a big fat 0.
1:16:44
No matter what the number says on screen, you won't be able to
1:16:48
buy anything. So Bitcoin is the one in a like
1:16:52
in a life like lifespan, historical opportunity to take
1:16:57
advantage of this. But so many people are flippant,
1:17:00
like, you know, subconsciously, sometimes I wish I can flip the
1:17:03
switch and make more people just live through 15 minutes of what
1:17:07
it felt like to have your life completely ripped away from you.
1:17:11
Just so you understand why someone like me is so adamant
1:17:15
about pushing this the right way and making people see the world
1:17:19
from the lens that I see it now. Because unless you go through
1:17:23
something this extreme and you're still living in, you
1:17:27
know, a financially privileged world, you may not really
1:17:30
understand why this crazy person is saying the words that he's
1:17:34
saying. But the mechanics of Fiat
1:17:36
currency are not isolated to Lebanon.
1:17:39
They are coming everywhere because the money printer cannot
1:17:43
stop. In fact, it has to be
1:17:45
exponentially worse because of the level of debt that is
1:17:48
currently out there. Now, in order to sustain these
1:17:52
monumental levels, the printing has to surpass previous records.
1:17:57
And when that happens, that $1000 that's sitting in your
1:18:01
bank account is going to have the purchasing power of 50
1:18:04
bucks, all right. And when that happens, God knows
1:18:08
how how how it manifests in the real world.
1:18:10
Because when people are hungry, they start doing crazy things.
1:18:13
I've seen good people do things that are unspeakable, all right?
1:18:16
And these are people that I grew up with and they're not bad
1:18:19
people. They're desperate people.
1:18:21
So are they all of a sudden criminals?
1:18:23
No, they're not. They are people that are
1:18:24
resorting to anything that is available to them to make ends
1:18:29
meet and that is that. That is the dire situation I
1:18:32
don't want to see happening. So the more people understand
1:18:36
that if you do nothing, you are headed off a Cliff and if you
1:18:41
want to do something, do it properly.
1:18:43
Don't take the lazy approach. The, the, the are like the way
1:18:48
we do self custody is extremely comprehensive, very detailed,
1:18:52
but extremely easy to understand.
1:18:54
There's no shortcuts, there's no workarounds.
1:18:56
We're never involved in any of your, of your, of your custody.
1:19:01
We don't sign your transactions, we don't touch your Bitcoin.
1:19:04
We don't do any of this stuff. We just teach you how to be your
1:19:08
own bank because now you are the head of security and the idea
1:19:11
here is for you to master this. Well, take that knowledge, pass
1:19:16
it on to your kids, and hopefully they can take that
1:19:19
knowledge and they pass it on forever and that torch keeps
1:19:22
going in that direction. That's how Bitcoin wins.
1:19:26
That is the only way Bitcoin wins is for it to remain this
1:19:30
decentralized and secure and in the hands of as many people as
1:19:35
possible. This is the one in a lifetime
1:19:37
opportunity to front run the thieves that have created a
1:19:41
system that have been it is destroying your life to this
1:19:44
day. All right, so this is my
1:19:47
message. People need to wake up.
1:19:49
There's no such thing as a shortcut.
1:19:50
If it's not Bitcoin, it's not Bitcoin.
1:19:53
There's no maybe it's Bitcoin. If it's not Bitcoin and you're
1:19:57
holding the keys, you're not holding anything.
1:19:59
And if you're involving a third party institution under the
1:20:03
guise of convenience or protection, you are bringing an
1:20:07
unnecessary risk to yourself. And I promise you, one day it
1:20:10
will blow up in your face and you will not like the way that
1:20:14
ends. So avoid all of this.
1:20:17
Take 1015 minutes, do the work. It's not hard.
1:20:20
There are experts to help you. We're definitely there for this.
1:20:24
This is our entire ethos and purpose of being now.
1:20:28
Is to educate in order for people not to experience what I
1:20:32
went through and what hundreds of thousands of folks went
1:20:35
through just as far back as five years ago.
1:20:42
That was an inspiring rant. And the reason I asked you to do
1:20:45
that, Tony, is because you know, this is this is this is not just
1:20:50
a business that you started out of, you know, because you were
1:20:54
bored or whatever. This is something that you
1:20:56
started out of necessity and you started it because you're trying
1:21:00
to help people avoid what you went through, which I can't even
1:21:05
imagine what that must have been like working decades for it to
1:21:10
just go, you know, overnight. And then when you know, you,
1:21:15
you, you call them out like there's nothing to go.
1:21:17
There's no one to you know, and then they don't take
1:21:20
responsibility for they probably like, I'm sorry, guys, we made a
1:21:22
mistake like this. And that like that is crazy.
1:21:24
That is theft on a massive scale.
1:21:26
And what inflation is. It's essentially it's taxation
1:21:30
route without representation. And governments rely on the fact
1:21:33
that people are just not knowledgeable about it.
1:21:36
So they can just continue getting away with it.
1:21:38
Right? This is what Bitcoins all about.
1:21:40
And I and I ran a poll right when we started the culture
1:21:45
segment and I wanted to kind of get a gauge on how many people
1:21:50
right now, 129 of you guys watch it watching on on YouTube.
1:21:55
I asked the question, do you take self custody of your
1:21:57
Bitcoin? 79% of you guys said yes.
1:22:00
This is a very good sign. But 20% of you guys, roughly
1:22:04
2021% of you guys said no, that is unacceptable.
1:22:07
You got to take self custody of your Bitcoin or you're relying
1:22:11
on someone else holding your money.
1:22:12
And history has shown that's probably not a good idea.
1:22:16
So we recommend over the guys over at the Bitcoin way.
1:22:20
If you are a little bit intimidated by, you know, a
1:22:24
little bit intimidated by self custody.
1:22:26
If you're a little bit intimidated by, you know, the
1:22:30
technicalities of it, these guys will walk you through A-Z and
1:22:35
you know, they'll walk you through it in a way where it,
1:22:38
they'll meet you where you're at in your Bitcoin journey, right?
1:22:41
Who I think is incredibly important.
1:22:44
Before you go on for those of you guys that commented or
1:22:48
rather did that poll of why you aren't self customing, could you
1:22:53
either comment on the video what is stopping you from self
1:22:56
custody or dropping in the chat? Just so we can get an idea like
1:22:59
what is stopping you from self custody and and then keep going
1:23:02
Nico, I I just wanted to throw that in there.
1:23:04
Either comment on the video if you're re watching this after or
1:23:06
if you're in the chat, comment in the chat.
1:23:08
We we want to get a gauge of why you aren't self custody.
1:23:12
Go on, Nico. I think, I think that's a great
1:23:13
idea. So, yeah, I, I, I wanted to ask
1:23:16
Tony to tell his story because I remember the first time I heard
1:23:20
that story, you know, it was incredibly inspiring and, you
1:23:25
know, it was a very powerful story.
1:23:27
And it's a, it's a story that, you know, you should, you
1:23:31
should, you should take the mind and, and Tony, I don't know if
1:23:33
you know this, but I'm, I'm a Venezuelan man.
1:23:35
We went through very, very not, you know, I've, I have the
1:23:38
privilege of living in the United States, but my family
1:23:40
members went through a period of hyperinflation.
1:23:43
And then not to mention the government there is, is a little
1:23:47
bit collectivist. So, you know, freezing bank
1:23:50
accounts isn't out of the question, so to speak, right.
1:23:54
And yeah, so, you know, it's it's I, I really resonate with
1:23:59
what you're saying. And Bitcoin truly does fix this.
1:24:03
This is what Bitcoin is for. In the developed world.
1:24:06
We have we have the comfort. Alex Gladstein coined the term
1:24:10
financial privilege of not having the necessity to seek
1:24:15
alternatives because we are complete.
1:24:17
We are. We're comfortable.
1:24:19
We're comfortable with the financial system.
1:24:21
And I'm not talking about me, but I'm talking about, you know,
1:24:22
the masses. But it's a comfort based on BS
1:24:28
because if you look, if you look behind the hood, it's not 10%
1:24:33
reserve banking anymore. It's 0% reserve banking in the
1:24:37
United States. Meaning like if everyone went to
1:24:41
a bank right now and they said, hey, I'm withdrawing my money,
1:24:44
the banks would literally go under.
1:24:46
They don't have everyone's money.
1:24:48
They they literally take your money.
1:24:50
As soon as they take it, they lend it out to someone else,
1:24:53
right? That's like the whole banking
1:24:55
model. But you know, they don't even
1:24:57
have reserve requirements on that.
1:24:59
So this is a very fragile system that every time gets into a
1:25:03
crisis, they just print in a ridiculous amount of money,
1:25:08
basically stealing from the public to make sure that the
1:25:11
system continues to be propped up.
1:25:14
This is literally why Bitcoin was born in the genesis block.
1:25:17
It literally says Chancellor, on the brink of the second bailout
1:25:19
for banks. Well, not even that Nico.
1:25:22
I was going to mention that earlier.
1:25:23
It literally says, you know trust in third parties is the
1:25:26
problem in. The world.
1:25:28
You know, and like the first sentence.
1:25:30
In the in the white paper, Yeah, Opti's exactly right in the
1:25:33
white paper. So, you know, again, you know,
1:25:36
self custody is a revolution. We've been saying that for a
1:25:38
very long time. We're very picky on who our
1:25:40
partners are. We have a literally self custody
1:25:43
by by default that's our lead sponsor just to exchange, just
1:25:48
to give you guys an idea of who we are.
1:25:50
You know, we have, we have, we have hardware wallets, we have
1:25:52
backup seeds. And of course, you know the
1:25:55
Bitcoin way sponsors Rustin and Dante's show.
1:25:58
So, yeah, guys, if you don't take self custody and you
1:26:02
perhaps you're a little bit intimidated, you want experts to
1:26:05
walk you through the process, head over to the bitcoinway.com
1:26:09
and these fine gentlemen will take care of you guys.
1:26:12
And much more than just taking self custody, I mean, they offer
1:26:15
a variety of services, right? So it's cybersecurity, again, if
1:26:19
you're trying to play that judicial arbitrage game, right,
1:26:23
you know, find a residency in a country that potentially is a
1:26:25
little bit more favorable from a tax perspective or perhaps just
1:26:29
from a security perspective. And also something that's not my
1:26:33
area of expertise, which is the the cybersecurity aspect.
1:26:38
I think that a lot of people, you know, underestimate how
1:26:43
potentially vulnerable their devices are, right?
1:26:45
So that's, that's something else that they specialize in.
1:26:48
So head over to Bitcoin Bitcoin the bitcoinway.com today and you
1:26:54
can book a free consultation, I believe, and those guys will
1:26:57
guide you to the right place anyways I do we are reaching the
1:27:02
top of the show. Today is December 27th, 2024.
1:27:06
I'm your Co host for today, Opti in the hosting seat, my
1:27:09
legendary Co host, always optimistic and of course my
1:27:12
brother from another mother and our special guest today, Tony
1:27:16
from the Bitcoin way guys go check them out like I said, and
1:27:21
we're simply Bitcoin live. We'll see you guys on Monday for
1:27:23
another episode next. The next week is going to be
1:27:27
where we're we're coming up close to the last episode of
1:27:32
2024 for simply Bitcoin. So you know, it's it's crazy.
1:27:37
You know, this this year was was very big for us and we
1:27:40
appreciate you all for, you know, for, for supporting us
1:27:43
along the way, giving us the viewership and being being an
1:27:47
amazing audience. Opti and I are going to be on on
1:27:51
BTC sessions channel later today.
1:27:53
So that should be a lot of fun. But until then, guys, we love
1:27:56
you all. We'll see you on Monday for a
1:27:58
brand new episode, Simply Bitcoin Live.
1:28:02
Peace out everybody. Today's episode was brought to
1:28:05
you by bitcoinwell.com, a Bitcoin only platform on a
1:28:08
mission to enable financial independence.