Latest / Simply Bitcoin / Bitcoin Hashrate Makes ATH, Miners Going Broke! | EP 598

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Bitcoin Hashrate Makes ATH, Miners Going Broke! | EP 598 · Simply Bitcoin

0:17
Yo today is October, 11th 2022. Welcome to Simply Bitcoin live.
0:21
We are your number one source for the peaceful Bitcoin
0:23
Revolution recover, the breaking news culture.
0:25
Matic Warfare will show you what only Bitcoin can give you true
0:29
Financial sovereignty. And when we say that, we
0:31
obviously mean Freedom. Today we have a very special
0:34
show. We're going to talk about the
0:35
hash rate, breaking all-time high, what it means for Bitcoin,
0:38
miners, Bitcoin miners are feeling the pain, Al huge
0:42
difficulty adjustment, what that means.
0:44
And also, we're going to talk about how gray scale Is putting
0:48
their gloves in the ring as it comes to Bitcoin.
0:50
Mining is that going to lead to more centralization?
0:53
We're going to talk about that. Also the release of stratum to
0:56
very exciting news. We have it all during the new
0:58
segment, but first, I want to say a very special hello to
1:04
Kirsten Kirsten is helping organize and throw the Pacific
1:08
Bitcoin conference. How you doing?
1:09
Kirsten its Kristen but I am good.
1:13
This mess up people's names with the good, that's it.
1:16
I correct it. So I'll tell you a very quick
1:19
story. As I was interviewing someone on
1:20
a podcast. Once I was Miss pronouncing her
1:23
name, she never corrected me a. Let me mispronounce it for the
1:27
entire interview and then was mad at me afterwards.
1:31
I was like, well, you know, you could have just said something
1:34
early on a super embarrassed. Do you know, do you know,
1:38
canute's fan home? I was calling a newt for the
1:41
longest time. He's like, hey, bro, it's not
1:43
that, it's Knutson. Oh my, oh my god.
1:45
Well now I know, So I know cross dead.
1:49
Chris. Got it right.
1:50
Got it, right? See, second time's a charm
1:52
course. And the legendary, the always
1:54
optimistic, Optimus Fields. How you doing, bro?
1:57
Well, I am doing wonderful on this day and just, just to make
2:02
a point. I think it's on-brand for us,
2:04
not to be able to pronounce words over here.
2:07
So, this is why people love us. Well, we have the excuse, we
2:13
have the ultimate trump card. Where Latinos, man, English
2:16
accent. Second language not your fault.
2:18
It's not my fault. It's not my fault.
2:20
Auntie. What do you have for us during
2:23
the culture segment brother? Okay.
2:25
Yeah. Today's culture segment, I think
2:26
I'm going to go in a little bit. I saw this article by Financial
2:30
Times and they are freaking out. That Bitcoin is the most stable
2:34
asset in the world. You know, UK government bonds,
2:37
are going haywire. And there's a good little
2:40
article about, oh my God, Bitcoin is more stable and less
2:44
volatile than the most stable things there are.
2:46
So it's gonna be a fun one. I'm excited.
2:49
Are we winning? I think the wintry smell it.
2:54
Okay. All right, let's start the show.
2:56
Let's do this. Number two brought to you by
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All right, ladies and gentlemen, at the time of recording, the
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Bitcoin price is The SATs per dollar also known as Moscow and
3:30
time for now 5000 228 block height, seven hundred fifty
3:34
eight thousand, two hundred eighteen reachable Bitcoin
3:36
nodes, fourteen thousand nine hundred thirty eight blocks to
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The Happening, 80 1781, having estimate April, twenty, twenty
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twenty four total lightning network capacity. 4985 capacity
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value. 95 million. U.s. dollars realized monetary
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inflation, 1.78 percent market capitalization 366 billion
3:57
Bitcoin. Is still a tiny baby.
4:00
Anyways, I want to take advantage of the number segment
4:03
and the fact that Kristen is here today to talk to us about
4:07
it. Did I say it right?
4:09
But they're all going to laugh. Every time you say Kristin,
4:12
here's you, did you got it? No, you're just think Chris you
4:17
can call me Chris. That's what my family calls.
4:20
Okay. So I want to talk about want to
4:21
take advantage of the fact that Christians here, we talk about
4:23
this every day. The Pacific Bitcoin conference
4:25
is November 10th to 11th. Los Angeles, California.
4:28
Speaker list includes Michael sailor core Eclipse Inland Alden
4:32
Jeff Booth. You have a lot of heavy weights
4:33
going to this conference. But you guys have heard that
4:35
many times because we say every day we promote the conference,
4:38
right? So Kristen was going to be
4:41
special about this conference. Why should people care, why
4:43
should people go? And, is it going to be live
4:45
streamed? Online people watch it online.
4:47
If they really want to, yeah, I'll really great questions.
4:51
The thing I've been saying about the conference's, it's big
4:53
enough to be super fun and small enough to really be worth it.
4:56
If you've been to bitcoin conference, let's say quite a
5:00
few years back. I know, I went to one in San
5:02
Francisco, there was, maybe 1,000 people there.
5:05
You could really feel connected to the community and that's what
5:09
we're shooting for at Pacific Bitcoin.
5:11
This year is something that's intimate enough that you really
5:14
get embedded in the community that you can meet to the
5:16
speakers and shake hands that you can feel really connected to
5:20
the community and obviously have a blast along the way.
5:23
It's in Santa Monica, California.
5:24
So we're going to have great weather, we're going to have
5:26
great fun, there's tons of parties.
5:28
Popping up around it. So for tried-and-true
5:31
bitcoiners, I think it's an opportunity to really connect
5:34
deeply and get to meet people versus just being in like a
5:38
giant circus where you're lost in a sea and then if you're
5:41
newer to bitcoin or you're just coming into the community, it's
5:45
a great place to come and learn. Again, I can remember to the
5:48
first conference I ever attended as a brand new Bitcoin or and
5:51
someone who is a self-professed normie meaning.
5:55
I'm not going to understand the highly technical Conversations,
6:00
I felt completely on the outside not knowing how to learn about
6:04
how to purchase my first Bitcoin or how to get a Bitcoin 401K.
6:08
So the really cool thing is not only you're going to hear your
6:11
favorite speakers and be able to meet them and be in a small
6:14
enough or environment to have that connection.
6:16
But if you're newer you're also going to have support so you can
6:20
come up and ask us how to get started, how to save, how to
6:23
start a Bitcoin 401K, how to move your Bitcoin into Cold
6:26
Storage which of course A huge supporter of that personalized
6:31
support is also going to be there.
6:33
So expect a great time, Community Learning parties and
6:37
support all in one place. So you mentioned that there was
6:40
going to be satellite events, could you talk a little bit
6:43
about? Could you give us?
6:44
Could you drop some hints for everybody boy?
6:46
Okay, so for sure, I know there is an ALS fundraising run put
6:52
being put together by crypto graffiti, it supports the
6:55
foundation that how Benny's wife started And that's going to be
6:59
an amazing. That's going to be happening on
7:01
Wednesday, prior to the conference and signups, for that
7:04
will be ready to. Oh, he's ready to open the doors
7:06
here, pretty soon. So if you like to run on the
7:09
beautiful, California coast and you want to support the ALS
7:13
Foundation, that's a great opportunity.
7:16
There is a thank God for Bitcoin event.
7:19
I believe also happening on that Wednesday.
7:21
So that is popping up. That's going to be super
7:24
exciting if you're part of that Community great opportunity.
7:28
The common connect. We have a lot of people coming
7:30
from local, meetups toxic. Happy hour, they are hosting a
7:36
pleb party the night before the event.
7:38
Very, very fun. Then we have what else for VIP
7:43
ticket holders, a VIP party, Thursday evening that is at the
7:48
Bungalow at the Fairmont Hotel. So when you buy your VIP ticket,
7:53
you get access to that special VIP party.
7:55
And that's going to be attended by all the speakers you can
7:58
Again meet Michael sailor meet Cory Clips, didn't meet all of
8:01
our VIP main stage speakers. So A beautiful opportunity to
8:05
hang out and party with us and then Saturday, there are two
8:09
parties after the conference. So the conference is Thursday
8:12
and Friday on Saturday is a beach day which is all access
8:17
like we're going to drop a pin. Everyone can come hang out on
8:19
the sand serve playing the waves, do whatever you want to
8:23
take nice long walk on the beach.
8:24
That's for kind of post-conference chill out.
8:27
And then For VIP ticket holders. There's a swan mansion party on
8:32
Saturday. So there's a lot happening even
8:35
just around the conference. I think, for me, the first
8:39
conference I ever attended in this space, it truly deepened,
8:43
my commitment and deepened, my confidence.
8:46
It's a great way to just be the dumbest person in the room and I
8:50
always am in the Bitcoin Community.
8:53
That's really exciting. I like how you guys are, you
8:55
know, focusing and on it being a social Event because I agree
8:59
with you, I think that's really important.
9:01
You know, the connections that you make there, either can get
9:04
you a job, or you're going to make friends for life opting.
9:06
I actually met at a conference. That's how did you?
9:09
Yeah, we met a bit block. Boom.
9:10
Nice. Like we met in person.
9:12
We knew each other on the interwebs but we are in person
9:15
at B Block. Boom.
9:16
So yeah, I really recommend this and the people over there at
9:21
Swan and Pacific Big Corner. Kind enough to give simply an
9:24
awesome promo code, which you guys could use.
9:27
All caps simply and it gets you a big discount on your Pacific
9:31
Bitcoin tickets. Chris thank you so much for
9:34
coming on the show today. Kind of giving the lowdown to
9:37
everybody. We really appreciate it and I'm
9:40
really excited to actually meet you in the flesh in California.
9:43
I can't wait. And I'll say one more quick
9:44
thing if I may there's the main stage but there's also the swan
9:47
Dome. And the one thing I want to say,
9:49
because your fans are likely hardcore bitcoiners the swan
9:53
Dome is going to be like the Bitcoin Twitter of the
9:55
conference. So you definitely don't want to
9:58
miss it. There's going to be trivia,
10:00
there's going to be deeper conversations, there's going to
10:02
be shanti's being sung. Like, you definitely want to
10:06
make sure you check out this one Dome.
10:07
If you're coming. I'm really looking forward to
10:10
this conference. It's going to be awesome.
10:11
And I remember this one Dome from Bitcoin, 20 21 years, a
10:15
party in there. The it was like that went, you
10:18
could find all your Bitcoins Twitter friends, specifically at
10:21
the swan Dome, that's where everyone was kind of hanging out
10:24
about. So I have good memories of that
10:26
and I'm sure you guys are going to one up.
10:27
A Pacific Bitcoin. Anyways guys, promo code simply
10:31
Chris. Thank you so much for joining us
10:33
on, simply that you guys soon. Thanks for having me.
10:35
All right, guys, let's get to the news, shall we?
10:38
We have a lot to talk about lot to talk about.
10:41
Let's check it out. The Daily News brought to you by
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11:07
Alright guys so good news for bitcoiners good, very good news
11:11
for Bitcoin, the Bitcoin hash rate continues to go Absolutely
11:15
parabolic. In the depths of a bear Market.
11:18
That's right. Chinese Communist Party Bitcoin.
11:20
Took you to freakin school? All right, you Bandit you
11:24
thought it was gonna go away but honey badger.
11:25
Don't give a fuck and it did not go away.
11:28
So Bitcoin hash rate breaks all time high.
11:31
As you can see, I'll zoom in Opti, still learning how to do
11:34
this, I learned how to do it this morning.
11:37
Fuck yes. Okay, so for our audio
11:41
listeners, this thing is this thing is going.
11:44
Early parabolic. Now I know a lot of you guys are
11:47
thinking it's like, why is the Bitcoin hash rate going,
11:51
parabolic? Oh and let me actually Define
11:54
what the Bitcoin hash rate represents the Bitcoin hap hash
11:56
rate represents it's an estimation there is no way to
12:00
actually know what the actual hash rate is every website s.
12:03
It's they kind of guests and they have their own algorithm
12:07
and they come to their own conclusion, right?
12:09
But it represents the amount of computational power actively
12:12
mining Bitcoin, right? But as we know because of the
12:16
difficulty adjustment, right? The more hash rate, the more
12:20
computational mining Bitcoin, the higher, the difficulty, the
12:23
higher, the difficulty, the less Bitcoin, you're going to mind
12:27
with the specific minor and to add to the pain, right?
12:31
This is making an all-time high. In the middle of a bear market
12:36
right Bitcoin 70% down and your Bitcoin miners are mining less
12:42
Bitcoin. Now I know you guys are thinking
12:45
is like why are people plugging in more miners of the price of
12:47
Bitcoin is going so high? Well that's actually a good
12:50
question because it takes a long time to build out these
12:55
facilities right? So if you raise a ton of money
12:58
which a lot of companies did right over the last six months
13:02
you know the top of the bull market all these company.
13:05
They were they were using Bitcoin miners as collateral.
13:08
They're raising all this money right to build out all these
13:11
facilities. Will they build them out?
13:13
And what are they going to do? Are just they're just not going
13:15
to plug in the minors. Of course they're going to plug
13:16
in it but it's becoming very painful and this article
13:20
explains a beautifully it's by decrypt.
13:22
Co Bitcoin. Mining difficulty jumps 14%
13:25
hitting all-time high Monday's. Difficulty hike is the single
13:28
largest since May when it Rose by 22% the Bitcoin Network
13:32
difficulty is set to adjust again in approximately two
13:34
weeks. When it's estimated to drop only
13:36
slightly, according to bitcoin doc rbtc.org cam, right?
13:40
So again, largest difficulty hike, meaning becomes harder to
13:46
mine Bitcoin, by 22 percent, that's a huge jump, right?
13:50
Miners. Have been hit especially hard by
13:53
the bear Market with mining Revenue down 53 percent from the
13:57
start of the Year, according to blockchain.com as the Bitcoin
14:00
price has struggled to stay above 20,000 since did
14:03
experience an Slide on September 13th, extremely painful to be a
14:09
Bitcoin miner right now. But if you're a bit coiner
14:13
technically theoretically you could say that the Bitcoin
14:15
network has never been this secure, right?
14:18
And nothing comes close to this, I might add right aetherium is
14:21
out for the count right? The bsv Bitcoin cash, hash rate,
14:26
their static and they're all the way down here, right?
14:29
The Bitcoin hashed rate is far ahead, right?
14:32
And I think the last metric I saw Bitcoin Mining now
14:35
represents 94% of all proof-of-work mining, right?
14:40
So the king is doing what Kings do, anyways, so I want to talk
14:45
about the Bitcoin hash Price Index.
14:47
This is a hash rate index by our friends over at Luxor and it
14:52
represents hash price a term coined by Lux, to refers, to the
14:56
expected value of one, tear, hash of hashing power per day,
15:00
the metric qualifies, how much a minor can expect to earn and For
15:05
our audio listeners. It literally looks like a shit
15:08
coin from October 20th 2021. The USD Tara, hash per day, was
15:14
at 41 cents, fast forward to October.
15:18
It's all the way down to seven cents.
15:20
So if you're a Bitcoin right minor right now you're
15:23
absolutely feeling feeling the pain dude.
15:27
This is a this is some some hardcore stuff man.
15:30
I feel bad. I feel bad, I feel really bad.
15:34
But I'll tell you guys, this is a lesson that I learned in 2018
15:38
if you have the cojones to stick around until the next bull
15:43
market and you eat some of those costs if you can from my
15:48
experience you will be rewarded from what I've heard from other
15:52
OG. Miners is that you will be
15:53
rewarded, why? Because the pright you might be
15:56
in the red today, right? But hey man, if the Bitcoin
15:59
price goes up 10 x if it goes 5 x right?
16:02
Whatever you're mining today. Multiply that by 5 Up by 10 in
16:05
terms of Fiat value. So your goal during this bear
16:09
Market, if you are a Bitcoin miner is just to survive, right?
16:13
It's just about survival. It's not about oh, holy crap.
16:16
I'm gonna make a ton of money now.
16:18
It's just about surviving man, if you can hold on, right?
16:21
If you can Diaw Janice, your hash rate price.
16:24
Looks like the USDA. It's true.
16:26
So if you could survive until 2024 2025, you're good, your
16:31
Gucci. Are this all you got to do, you
16:33
got to stick around anyways Opti, what are your thoughts?
16:35
It's on this brother. Well first and foremost we say
16:38
it all the time bitcoiners build in the bear market and hash
16:41
rates at all-time high block Heights at all time high.
16:44
It's never been a better time to be a Bitcoin.
16:46
It's never been this secure on a network level but it's also if
16:51
you think about it, like the risk-reward of the Bitcoin
16:55
Network versus when you should get in, like if you're a noob
16:59
right now and you're looking at this stuff, the hash rate going,
17:02
parabolic? Yes.
17:03
The prices down a little bit but It's never been a better time to
17:07
buy Bitcoin if the network is getting stronger in the prices
17:10
low. What's that telling me?
17:11
It means the Bitcoin is going to explode eventually you know, and
17:15
we were just at the mining conference and one thing I took
17:17
away was my friend's saying that building in the bear Market as a
17:20
as a mining company is is like the time when you want to be
17:23
building because like they're terrified of the bull market
17:25
because that's when companies blow up.
17:27
So as Nico's saying if your home minor or you know, a small
17:32
Bitcoin mining company and you can withstand the pain right
17:34
now. Tell me.
17:35
Yeah, that's what that's what some friends told me.
17:38
They're like man we're building out right now in the bear
17:40
Market. We're kind of afraid of the bull
17:42
market, cuz we're going to be making more money.
17:44
But that's also when people try to over leveraged themselves.
17:47
And so it's about staying humble, you know, and keeping
17:50
your head in the game. But as you said, if your home
17:52
monitor, your small mining company and you can withstand
17:55
the pain right now, like you will be rewarded.
17:57
And this is when the Legends are made in, this is when you should
17:59
be building out your mining infrastructure if you want to
18:02
because it's never been a better time to Mining Bitcoin like yes
18:06
there is pain out there and is Nico saying if you can if you
18:09
can eat the price right now. If you can subsidize that prize
18:11
via, I don't know like a Fiat job or something like that or or
18:15
just be able to hold onto them sets.
18:18
When number goes up, you you're going to be happy about it.
18:21
So you know, continue to stack them.
18:23
Them non capacity. Bitcoins Bitcoins and big cone
18:30
hit the samba. Hold on, I need a prepared.
18:32
I need to prepare this soundboard better for you, but I
18:35
I need to get on the front page. There we go, I love corn.
18:39
Corn is great. Okay, anyways, alright guys, so
18:42
let me talk about grayscale, grayscale unveils Bitcoin,
18:46
mining centered, investment entity and I know what y'all at.
18:49
I know what a lot of you guys are thinking, like, this is,
18:52
this is noise. What the hell, are we talking
18:53
about this? Well, no grayscale.
18:55
Remember they're the ones behind trying to push the Bitcoin.
18:59
ETA. F, right?
19:01
They're huge. They have out of Bitcoin and now
19:03
they're getting it to the mining.
19:05
Mining game. And what they want to do is they
19:06
want to offer that as an investment.
19:08
Now, what worries me is who they're using as a mining pool
19:12
and we're going to get to that but there is a happy ending at
19:14
the end so stick with us. So crypto asset manager, firm
19:17
grayscale aims to take advantage of the slide and crypto prices
19:20
with a new investment product focus on Bitcoin mining card
19:23
where it was launched via the newly, founded grayscale,
19:26
digital infrastructure opportunities a private
19:30
co-investment opportunity in mining Hardware that powers the
19:32
big system GDI. Oh will you Use invested Capital
19:36
to purchase mining equipment as it becomes available for the
19:38
sale in the, in coming months at what is likely to be discounted
19:42
prices. There's some signal right there.
19:44
That's telling you what smart money is, what they expect is
19:48
going to happen. But remember at the end of the
19:49
day, guys, what I expect to happen to the hash rate in the
19:54
coming months, specifically if Bitcoin stays at these prices,
19:57
is I expect it to fall. Similarly.
19:59
Similarly to what happened after the 2017 bull market, remember
20:04
that? 17 bull market peaked.
20:07
It was. Here we go.
20:08
For audio is has a really peaked in December, but the hash rate
20:12
the Hatchery kept going for about a year and it didn't have
20:16
a at the time. It didn't have that massive
20:18
correction until October 18th. So it was about a year out.
20:23
I expect this to do something similar, right?
20:27
So anyways, getting back to the article, wow, a lot of people
20:32
have exposure to cryptocurrencies themselves.
20:34
It's Nificantly, more difficult for the everyday investor to
20:37
Source store, and operate. Mining equipment to generate a
20:41
profit mining Bitcoin Foundry which runs one of the biggest
20:45
smiling pools founder USA will manage the day-to-day operations
20:49
of the new entity, which is the first of its kind for grayscale.
20:52
Now, I told you guys that this was going to be a little bit of
20:55
signal Foundry, USA on makes up 31% of the Bitcoin mining hash
21:04
rate that Is way too much, right?
21:06
And they just got a bunch of money thrown at them from
21:09
grayscale, right? Remember, the weakness that
21:13
Bitcoin has is the 51% attack. You don't want it to get close
21:19
to that. Number thirty, one percent is
21:22
already too much, right? He's mining.
21:24
Pool should increase, right pool and should be bigger, Luxor,
21:27
should be bigger. F2, pool.
21:29
Should be bitter and pool should be bigger, right?
21:31
The 31 number is too big. Now, does that represent that?
21:35
Audrey owns 31% of the miners in existence.
21:38
No, it's just convenient for people.
21:40
Specifically Bitcoin miners that don't want that volatility and
21:44
reward. They want a consistent reward.
21:46
What do they do then? It's in the, the hint is in the
21:48
name, right? They pool their resources
21:51
together, right? So that's why you have that 31
21:53
percent. But still also keep in mind that
21:56
that's Foundry USA. So, you can make that assumption
21:59
that those are minors based in the USA.
22:01
And remember what happened with Marathon, right?
22:05
Released the mayor of pool the ofac compliant Bitcoin blocks,
22:09
right? So you don't want a significant
22:12
portion of the hash rate located or mining pool.
22:15
You don't want that located in a specific country right?
22:18
USA's great that you know the country has a history of
22:22
protecting property rights but at the same time, right?
22:25
Bitcoin is competing for all the marbles, right?
22:28
It's what is the global Reserve currency?
22:30
Now it's the US dollar who has the most to lose if the US
22:33
dollar goes down. You can make the argument that
22:36
the American government has the most to lose.
22:37
So is it too far of a stretch to make an assumption that, you
22:41
know, the American government is going to go after Bitcoin Miners
22:45
and Bitcoin mining pools in the USA?
22:48
I mean, look at the digital assets framework released by The
22:50
Biden Administration. They were extremely hostile
22:53
towards Bitcoin. Miners.
22:55
It remember that report by Nick Carter, they were forcing
22:58
Bitcoin miners to adhere to standards that were completely
23:01
unfeasible, right? So and no other industry.
23:05
Is made to adhere to those standards.
23:07
Those energy, those policy standards, but the mining
23:09
industry is made to adhere to them.
23:12
So why is that? Well, clearly, I don't think it
23:15
has anything to do with mining. We've made the case for you guys
23:17
many times before. I think it all has to do it all
23:20
boils down to power and control, right?
23:23
Money and politics. Anyways, moving on.
23:27
So, going back to this article. It says, as part of foundries
23:31
Mission to empower a decentralised infrastructure
23:33
works, it's a partner with grayscale.
23:35
How to broaden the ability to invest in Bitcoin mining during
23:37
this opportune time? Now, fine?
23:40
But if you want to learn about Bitcoin mining, if you want to
23:44
invest in Bitcoin what we recommend is buy Bitcoin, take
23:48
that Bitcoin into self custody, don't buy an ETF.
23:52
Don't buy a fund that gives you access to bitcoin miners if you
23:57
really want to do it. It's a little bit more
23:58
complicated than you think. Try mining on your own.
24:01
If you don't have cheap, electricity of where you're
24:03
located use a Hoster, I Ideally you want to mine at home or you
24:07
want to have a facility to mine Bitcoin, right?
24:10
But not everyone has that that that luxury so but again it goes
24:14
back to this idea of not your keys.
24:16
Now your Bitcoin. Same applies.
24:18
Right? Why are you going to buy an ETF?
24:20
Why are you going to buy this fun when you don't have to
24:23
write? I would even make the argument
24:25
and Jeff Ross made the argument when he came on the show.
24:27
He says, look if we do this right Bitcoin will take me out
24:31
of a job, right? And he's a hedge fund manager or
24:33
he is a hedge fund. Sure, right.
24:35
So again, why use these things if you don't have to and again
24:42
not a big fan because they already make up 31% of the hash
24:45
rate. Anyways, moving on, I told you I
24:48
was going to end it on a good note.
24:50
This is an article that came out with came out from CNBC today
24:54
and I think it's historic and it's something that we've talked
24:57
about on the show. We've actually dedicated an
24:59
entire episode to something called stratum be to what is
25:02
stratum be to, I'll get to it. The article says software used
25:06
in Bitcoin mining just got its first upgrade since late 2012,
25:10
and a coalition of companies, including payment Giants, block
25:13
formerly square. Is trying to help push the open
25:16
source protocol forward to become an industry standard.
25:19
Remember, the CEO of block is Jack, Dorsey, Jack Dorsey, left,
25:23
Twitter to go work ethic to work in Bitcoin at full-time and he
25:27
said many times before the most important thing that's happening
25:29
right now is Bitcoin, so pay attention because that's Signal
25:34
right there, pay attention to who that softer was released by
25:39
the move could help open Bitcoin mining to more participants by
25:42
supporting low quality internet connections, as well as
25:46
improving security miners. Get properly compensated for the
25:48
work rather than directly assess a Bitcoin protocol.
25:51
The vast majority of vendors today, work through an
25:53
intermediary protocol called Shadow, which facilitates
25:56
Communications between the Bitcoin Network Miners and the
25:59
mining pools that combine the hashing power of thousands, of
26:02
miners all around the world, all over the world.
26:04
The miners you stratum to submit their work and to collect a
26:07
reward. If they successfully complete a
26:09
new block of transactions, it will take some time to convince
26:12
the mining industry to adopt the new protocol.
26:15
So spiral, a subsidy of Jack dorsey's payment payments
26:18
company block is teaming up with Bitcoin mining company brains to
26:22
launch a group to test and fine to the open-source software
26:26
before they push Mass adoption. Pay attention here, currently,
26:30
it is common for each mining rig in a large farm to directly
26:33
connect to a pool this setup. Waste, a lot of energy.
26:37
Lee says that stratum V2 supports a proxy that Aggregates
26:40
all the connections and only establishes one connection with
26:43
in the, with the pool, the upgrade is designed to improve
26:46
security as well. Today, it is possible to steal
26:49
hash rate from a minor which could lead to some miners losing
26:52
money. Hash rate is a term for the
26:53
collective computing power of the Bitcoin Network to resolve.
26:56
This Lee says stratum be To introduces a standard security
27:00
mechanism with authentication and encryption between Miners
27:03
and pools. The version being released
27:06
Tuesday is for initial testing and early.
27:08
November a more robust. Robust version will come out
27:11
that supports additional functionality, including job
27:14
negotiation, a feature that represents a historical shift in
27:18
the censorship resistant mechanisms of Bitcoin mining, by
27:21
replacing a pools responsibility of assigning work to minors with
27:25
the ability for the miners to select their own work.
27:29
That right there is some signal that is huge news because the
27:33
way that miners were the way that mining pools work today is
27:37
that the mining pool gets to pick and choose which blocks are
27:43
included into the Bitcoin blockchain.
27:46
But now stratum V2, assigns that responsibility to the individual
27:52
minor. That means that if you're a tiny
27:54
minor and you get luck in, you happen to find block, right?
27:58
Right. You will have the capacity to
28:03
get to assign or get to select which blocks you want to include
28:07
in the chain. And that, In my opinion, that
28:11
was one of the things that I feared about the most.
28:13
Because remember, guys is what I was telling you about the USA,
28:16
right? Is a huge portion of the hash
28:18
rate was located in the u.s. one of the huge mining pool 3000
28:24
basically encompasses 31% of the hash rate already.
28:28
Right? So you could have made the
28:30
argument that The Foundry USA could have been tapped on the
28:32
tread by the treasury by the, by the US.
28:34
Treasury and say, hey only accept, UF office of foreign
28:38
assets control blocks. Now, does that mean that they
28:42
would have been successful? They would have been able to
28:43
successfully sensor Bitcoin. No, of course not.
28:46
Because all it takes is just one pool to add those blocks.
28:49
That Foundry. USA passed on, right.
28:52
But this decentralised has it even more.
28:56
Right. This is huge.
28:58
I'm going to read it again because I think it really is.
29:00
Historic, like the article said feature that represents a
29:03
historic shift in the censorship resistant mechanics of Bitcoin
29:06
mining by replacing a pools responsibility of assigning work
29:09
to minors with the ability for minors to select their own work.
29:13
There are orders of magnitude, more minors in pools.
29:16
So if minor select transactions, it is far more decentralized
29:20
than just a handful of pools working for industry wide,
29:24
adoption of the upgraded stratum.
29:26
All is one of the most important developments and improving the
29:28
decentralization and censorship resistance of Bitcoins
29:31
architecture. As for timing, the pilot
29:33
integration testing will happen this fall next year.
29:36
The upgraded protocol will likely see greater adoption once
29:39
Miners and pools are confident is working.
29:41
Well, this is the quote lie. He says I'd anticipate a gradual
29:45
increase in hash rate in 2023 reaching 10% of the hash rate by
29:49
end of 2023 would be a great success, dude.
29:53
That is incredibly bullish. I am very happy to hear that.
29:57
I'm very happy to hear that this is more of the decentralization
30:01
of Bitcoin. You're witnessing it here.
30:04
And that was one of the things that freaked me out the most.
30:07
Because I know that was one of the things that specifically the
30:10
US government was going to try to co-opt, right?
30:13
They're going to tap on those large and Industry Miners and
30:16
say hey guys. You check off all the climate
30:21
boxes as long as you censor these certain transactions by
30:24
Iranians right. So yeah, this is awesome.
30:28
I hope it's successful. I hope they roll it out and a
30:31
little bit of signal once again is Here we go.
30:35
Who is behind this Jack dorsey's behind this movement, right?
30:38
Jack dorsey's company block is the one pushing this forward,
30:42
and that makes me incredibly bullish.
30:43
And also shout out to brains. Everyone knows brains and looks
30:47
like, they're, they're partaking as well.
30:48
This is freakin awesome man. And again, Bitcoin companies
30:52
working together to push Bitcoins, ethos of
30:56
decentralization and censorship resistance.
30:58
Freaking awesome. Freaking incredible.
31:00
We have a question by crypto. 80 is that Greg does this also make
31:06
individual miners more open to targeting by government
31:10
sanctions? That's an incredible question.
31:11
I don't know. But how will they find out?
31:14
How will they find out where that individual minor is or
31:18
rather to punish individual miners for violating sanctions?
31:20
It could be man. I look opting.
31:23
I have been covering this on a daily basis.
31:24
It's going to get very fucking nasty.
31:26
It's going to get hairy, you know, that Opti calls him
31:29
high-level parasites. I call a monetary demons, right?
31:32
You know, that these people are To give over the keys and just
31:35
go gently into that good night. You know, they're going to put
31:36
up a fight and that's not only a speculating on that actually.
31:39
We've been on top of this form or over more than a year.
31:42
Now, that's exactly what's happening.
31:46
I mean, the White House report was damning the report by the
31:50
treasury. The future of money was also
31:52
damning that entire report. They are making the case that
31:55
the future of money is Central Bank, digital currencies.
31:59
And they mentioned, they don't mention Bitcoin, which by the
32:01
way is huge amount of signal right there, right?
32:03
So you already know where the cards are falling, right?
32:06
Not to mention the mica regulation, in Europe, that
32:10
Christine Lagarde was looking forward to write that in the
32:13
wording, right? We still need more confirmation
32:16
of that, but in the wording from the report, from the article
32:19
that we covered, it makes it basically said that they want to
32:22
kyc. They want to force developers
32:24
and software developers to implement kyc into the wallets,
32:27
right? So yeah man this is going to be
32:30
a crazy fight but I'm hopeful that we can in Be faster, right?
32:36
Then they could try to regulate right?
32:37
And I think that that's where this is going, man.
32:40
They're fucking demons, man, demons, and they don't want to
32:43
give up our and I think that this is what you're seeing right
32:46
now. But dude, this is incredible
32:49
news. So shout out to block.
32:51
Shout out to Jack Dorsey. Shout out to everybody at brains
32:55
fucking keep slang. Keep saying it because they're
32:57
saying it anyways, Opti. What are your thoughts, bro?
33:00
Well, first off, we started with the grayscale news and I'm going
33:03
to Echo up, BTC, pension in the chat, don't give Barry gets over
33:07
your money, and then to Echo, what harder coins said on
33:12
Twitter. He responded to us in the spaces
33:15
comments, and he says, the fact that gray scales using Foundry
33:18
seems a bit irresponsible. But I definitely understand
33:20
considering that foundries the biggest pool.
33:22
So, you know, just big forces uniting, but again, That's the
33:28
worry of centralization of us Mining and we say it all the
33:30
time. Well, I don't know if we say it
33:32
on a show all the time but if it's not you're a sick in hand.
33:35
It's not your hash guys, you know.
33:37
Yeah. But I mean so like I know, I
33:39
know, I know Nico, I'm not is that dude, not everybody has I
33:43
know, I don't know, I just, I gotta I got a meme.
33:46
You anyways bro this is this is our Dynamic.
33:48
But yes, again guys, and my next point was, you know, if you are
33:52
going to host, make sure you have a certain level of trust
33:56
with the person you've done your back.
33:57
On you done your research because again, there's been a
34:01
lot of, a lot of explosions in that in that realm.
34:04
So it's just something to be considered about the, the game
34:08
theory and what do we always say?
34:11
You know, the attack vectors of Bitcoin and Bitcoin mining.
34:14
But furthermore on the stratum newsman, I think this is awesome
34:18
and super bullish and plus a testament to what I've been
34:21
saying. First of all, the fact that it's
34:23
on CNBC like a testament to what I've been saying about Bitcoin
34:27
cross. The Rubicon into mainstream
34:28
Consciousness, like they're talking about Bitcoin upgrading
34:32
software, Lionel, mining software upgrades on Legacy
34:35
Media, as bullish news. And I got this comment on
34:38
Twitter earlier. When I, when I posted this, I
34:41
did a I did a breaking tweet because I thought this was
34:43
absolutely like, really good news and I thought it was a
34:47
breaking story, and someone's like, this isn't breaking.
34:49
I'm like, dude, this is so bullish for Bitcoin
34:52
decentralization. When it comes to mining that I
34:55
thought this was breaking news. And and to This is super
34:58
important because we are minimizing the threat of
35:00
censorship with pools. And this is what we're here to
35:03
do. Continue to build out the
35:04
infrastructure Bitcoin and to see bitcoiners build in the bear
35:08
Market, you know, in particular block and Jack Dorsey.
35:12
I think this is absolutely awesome news and and I can't
35:14
wait till November to where we have this implemented completely
35:18
and it's out of pilot testing and we can see Bitcoin just
35:22
continue to chug along and continue to win and take over
35:25
the world. So we need more.
35:27
Renergie on bitcoin. Make sure that the strongest
35:30
Ledger in the world, is more secure, bullish, absolutely
35:33
bullish Nico. I love it.
35:35
I'm hyped on this news. Yeah, dude, it's dude.
35:40
It's absolutely incredible. It's going to be a slow rollout,
35:43
but it does give me hope because that potential exploitation is
35:49
going to be taken off the table, right?
35:51
BTC pins says something really hold on.
35:54
I think Opti pull up another, he said, saying, op these
35:56
neglected, is that another one of off these ex-girlfriends?
36:01
Apparently this was a PTC. Pin says, Paper mining Shares
36:08
are even worse than hosted minor that dude that is.
36:11
That's some signal right there by BTC pens.
36:13
I agree. Michael Moore.
36:18
Michael Morrison, says, kyc and wallets.
36:20
BitTorrent is a hell of a drug. Yeah, you're absolutely right,
36:23
dude. But the so the issue is not
36:25
necessarily the desktop wallet. So like a while on your
36:27
computer, the issues, a mobile wallet, we 99% of people
36:32
download their apps through the App Store of which Google and
36:36
iPhone completely control, right?
36:38
And that's a very weak. That's a, that's it very easily
36:42
exploitable, weak point for governments and I suspect they
36:45
will go after that. In the coming years.
36:47
So anyways guys, bullish news some some and use some bullish
36:52
news but overall really bullish news, can't kill the honey
36:55
badgers. Not going away.
36:56
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38:01
Anyways, Opti, what do you have for us today during the culture?
38:04
My friend? Alright guys.
38:05
So as I told you guys yesterday in spaces, I thought I was going
38:08
to have my story for today. I'll push it on the, on my list
38:12
of things to cover for the rest of the week.
38:14
But this article dropped, and this tweet dropped this morning
38:17
about an hour before, we were going to start, and I just knew
38:20
I had to cover it. So, we got Robin, wiglesworth
38:23
editor of Financial Times Alphaville, and he goes, He
38:27
tweets out. On the longest maternity UK
38:30
Government Bond. Has crashed worse than Bitcoin
38:33
over the past year or so. And if you just add this with
38:36
some other news headlines that I've been seeing this week, we
38:39
got Bloomberg, the most powerful buyers and treasuries are all
38:42
bailing at once. And furthermore, Rich
38:44
Millennials have lost confidence in stock market.
38:47
Bank of America, says, and just to see one quote, the lack of
38:50
faith in equities indicates, that younger Generations
38:52
increasingly, think a traditional portfolio of stocks
38:55
and bonds is not going to deliver above average returns
38:58
over. Time, I believe that Bond
39:01
holders and treasure holders. Should be in disbelief.
39:04
Wait, no, no, no. So, let's get into this, like
39:09
Bitcoin over. Guilt is the title of this
39:13
article on financial times. And it says, duration, has blown
39:16
up worse than crypto, so Robin Wigglesworth?
39:19
Same guy. He goes, we can't believe we're
39:21
riding this but long-term inflation linked, gilts have now
39:24
crashed even harder. Oh, yeah.
39:26
Okay. Zoom in.
39:27
Hold on. My fingers are too fat.
39:32
It's not working. Alright, anyways, but long-term
39:34
inflation linked gilts have now crash even harder than every
39:37
online. Bros favorite, digital asset,
39:40
obvious easly. This is a fight to be the least
39:43
awful investment of the past year.
39:45
VidCon is down about 67 percent since last November.
39:48
Notice the bias guys and noticed, you know, the fact that
39:51
they're trying to dunk on this even though number goes up and
39:54
I'll show you all the charts in the numbers afterwards, but let
39:57
me get into this article says, it's Hardly something to shout
39:59
about through. Easiest, who claimed it would be
40:01
a great inflation. Hedge fact that inflation-proof
40:04
long-term you came sovereign debt has done even worse.
40:06
Has blown our minds. Just look at the chart of the
40:09
top of this post, this is stuff. You can see as we say all the
40:12
time Bitcoin is the most stable currency in the world, even
40:15
consent, or even a stable asset in the world if you want to use
40:19
that framing. But the longest maturity, UK
40:21
government bonds in the market has lost seventy eight point six
40:24
percent of its value. Since being issued on November
40:26
23 it's down over Percent from its peak in December Force.
40:30
Absolutely. Wrecked.
40:31
And 80% drawdown for a UK Government Bond in less than a
40:35
year. Absolutely wrecked.
40:37
Anyways, they say to that's the shows two things.
40:39
Firstly, that there has been a mass liquidation among UK,
40:42
pension plans, that dominate the long-term Linker market and
40:45
along guilt. In general beyond what the UK's
40:47
admittedly, woeful, economic and financial fundamentals would
40:50
indicate but only when duration blows up it can inflict just as
40:54
much pain as a silly cryptocurrency or shaky junk.
40:58
Vaughn and up to their bias. This is the Fiat times bro,
41:03
Rose. So of course, they're going to
41:04
try to dunk on bitcoin but hold on, Dylan's tweet here and he
41:08
goes I am here once again to reiterate, that Bond are trading
41:12
like absolute shit coins. So he's quote tweeting the tree
41:15
tweet by Tracy Allah when he goes.
41:17
Looks like the volatility of some UK government bonds has
41:19
exceeded that of Bitcoin recently.
41:21
We've been telling you guys this consistently that Bitcoin is the
41:24
most stable at the most stable currency in the world.
41:28
But Let's just jump into it member, I showed you guys that
41:30
are yesterday. You know, if you're here just
41:32
for the games and just for the returns the Yuppie Elites and
41:35
tried five boroughs are still in disbelief.
41:37
I showed you this charge today, I zoomed in a little bit and you
41:40
can see that quarter three of 2022 based on asset classes,
41:45
Bitcoin has the highest return. And you know, what do we have
41:49
here? Precious metals 1.3 percent?
41:50
Cash point two percent. We got Global bonds at negative
41:54
2 gold at - to 10-year treasuries at - 5K Commodities,
41:59
never do 7 long-term, treasuries negative 8.
42:02
And here the bottom are eits or eat at - 12.2 9%.
42:07
So if you're here, just simply for the games Bitcoin is still
42:11
the most are the best returning asset in the market.
42:14
Currently, it's almost like Bitcoin was built for this exact
42:17
moment but if we're comparing Bitcoin as a currency on its
42:21
inflation rate, we know that the current inflation rate for the
42:24
u.s. dollars 8.3. We have, I think it's over here.
42:28
Yes. Have the UK and inflation rate.
42:30
At nine point, nine percent, we have, you know, different
42:34
inflation rates in the world and still Bitcoin and it's realized
42:38
inflation rate which I have over here is less than even Japan at
42:43
one point seven four, and we show you this in the numbers
42:45
every single day. But I think this is the point
42:48
guys that we need to understand. And this is how, you know, what
42:53
is really happening with inflation.
42:54
So what is the current inflation rate and it goes based on the
42:57
rule of 72 if it Inflation is 7.2 percent.
43:00
It will take roughly 10 years for prices to double but with
43:03
8.2 6% inflation rate prices will double in roughly eight
43:07
point seven years. I think based on the math we
43:09
have right now it's like 8.4 percent and even though they try
43:13
to dunk on us because on a year basis.
43:16
Yes, we are down. You guys already know zoom out.
43:18
Number goes up and they are in disbelief.
43:22
And we all know, at least, I hope we all know that Bitcoins
43:25
monetary policy the monetary inflation.
43:28
We are here at six point two Pi 5 percent and in 2024, it's
43:33
going to get cut in half. And four years later is going to
43:35
get cut in half, which means that the realize inflation rate
43:38
of big home will continue to go down and no other currency.
43:41
No another asset can even compare to this, and let's just
43:45
continue to add more signal on top of this.
43:48
The circulation amount Bitcoin right now is 19-point 15 million
43:53
which means we are almost at the 21 million and we will have our
43:57
monetary policy set. In stone until 2140 and just to
44:01
add some more signal in here. Remember when we covered this,
44:04
the other day that investors are ditching, the Euro and pound for
44:07
Bitcoin record numbers as their value plumage.
44:10
And remember, when we covered this one as well, billionaire,
44:13
investor Steven druckenmiller says, mistrust and central banks
44:16
could lead to crypto Renaissance, Bitcoin Renaissance
44:21
is what he really means. And I have this tweet here by
44:24
Luke Graham, and I saw this right before the show and, you
44:26
know, this isn't not just me. And Nico telling you, this is
44:30
billionaire investors. This is people that are
44:32
understanding what's going on in the macro landscape.
44:34
And he goes earlier this year, I thought most investors and
44:37
policy makers, clearly do not understand what BTC crashing
44:40
means. It's coming for the financial
44:42
system and global economy because if they did, they would
44:45
not be laughing / enjoying their sense a shot in fraud and just
44:50
to add some more signal, you know, that the euro is under the
44:53
dollar, it's at 97 cents, currently in the second week of
44:57
October. So all Currencies are in a
44:59
frickin death spiral right now and that's bitcoiners.
45:02
What do we always say? Sats are my stable coin and I
45:06
only bring all those receipts and to try to elucidate the idea
45:10
to people out there that there's nothing as stable as Bitcoin
45:13
right now. The hard cap monetary policy of
45:16
Bitcoin is the reason why we are winning.
45:18
Yes, the price is down since its all-time high, but it's still
45:21
hovering above 2017. All-time high of 19 k at least.
45:25
It's hovering around there. And what is this telling me?
45:28
If all of the world's markets are blowing up right now and
45:32
Bitcoin, is this stable sats are my stable coin, I could not
45:36
imagine holding any bonds stock market assets.
45:40
Like you would not want to hold anything but Bitcoin right now.
45:44
And look, again, we are libertarian at heart.
45:47
I'm not going to tell you what to do with your money, but if
45:50
you don't have a small portion allocated to bitcoin right now,
45:54
you are doing yourself and your clients a disservice.
45:58
Us as I don't know if you guys saw our Greg Faust interview, we
46:01
did the other day, but if you merely only have one percent of
46:05
your assets and Bitcoin and everything else drops and
46:08
Bitcoin goes 100 x like we think it's going to go into the future
46:11
20-year. Hold you're going to save your
46:13
portfolio. And who knows how far the Legacy
46:16
Media can continue to kick. This can down the road, but in
46:20
my opinion, they have lost control of everything.
46:23
And yes, but when you see that the decoupling incoming like,
46:28
Guys, we are living in an absolute crazy, clown world
46:33
times. And central banks are from all
46:36
around the globe are fighting at each other.
46:38
You know, we had we had the the UN telling the FED that if they
46:42
raise rage like you're going to blow up our economy.
46:46
I think this is all a feature, not a bug.
46:48
So guys do yourself a favor and Save in Bitcoin.
46:52
This is not just an investment, this is not just a play for
46:55
morphia. This is a hedge.
46:58
It's monetary insanity and you need to save in Bitcoin because
47:01
who the hell knows what is going to happen going into the future.
47:04
But we know what is going to happen with Bitcoin and
47:07
personally, I would be losing my mind if I didn't have Bitcoin, I
47:11
would feel the rat race. And I would feel as depressed as
47:13
most people out there but Bitcoin and sats are my stable
47:18
coin bit. Coin is the most stable currency
47:19
Bitcoin is the perfect money in the world and you should be
47:22
saving it because everything else that is supposedly
47:25
inflation-proof, that is supposedly stable.
47:29
Is getting rekt out there. So hold Bitcoin save Bitcoin for
47:34
the long term. This is an inflation hedge, a
47:37
monetary inflation hedge not just price inflation hedge.
47:41
They have debase the currency and you need to hold something
47:45
that is secure and and not going to lose value over time and that
47:49
is Bitcoin. Number will go up and freedom
47:51
will go up following that anyways.
47:53
Nico rant over jump in and add your salt sand and flavors and
47:57
spices. Into there.
48:03
The Applause thing isn't working.
48:05
That's a shame. No, dude, look the I think you,
48:12
I think you did a great job. Look, the fact that Bloomberg is
48:15
admitting defeat, the fact that Financial Times is admitting
48:18
defeat that fintech article was had a lot of signal in that
48:23
article. It said something like, if this
48:25
was just do the price, we would have seen something you would
48:30
have seen something very similar in May 20, 20 and May 20 2014.
48:34
There are making the case that people are actually opting out
48:38
of Bitcoin. Because of the failure of their
48:41
local Fiat currencies and and add to the mix.
48:44
What, you know, look guys. The financial times is, it's
48:47
like Bloomberg man. It's very well respected in the
48:51
traditional Finance world and the fact that they're coming out
48:53
with an article that says Bitcoin more than, you know, the
48:58
equivalent of a bond in the UK is that's absolutely massive.
49:04
That tells you that we're winning, I would even frame that
49:08
like that. That article is it's to me it's
49:11
as historic as the, you know, Fiat currencies or not memes
49:16
that also was released by the financial times.
49:18
It's that historic that's absolutely massive and and just
49:23
over time, right inflation compounds, right?
49:27
So it's not even if inflation goes back down to 2%.
49:31
It's not that next year. You know, you're the prices are
49:35
going to roll back. It's just you're just getting
49:36
poor slightly slower, right? This the Ever tell you that it's
49:40
not that the prices are going to go back down, it's just they're
49:42
not going to go higher as fast and the absolute failure of bond
49:47
markets, man, like that dude. Bitcoin is taking everything to
49:51
Absolute School. You will find a safe haven here
49:55
and I think that's what it's showing and I think you're going
49:58
to see more and more articles man.
49:59
Look, the next bull market is when Michael sailor and nine
50:04
buchelli, they're going to look like fucking Geniuses.
50:06
They're going to look like studs, right?
50:09
And that's when I'm really curious to see if other public
50:13
companies are going to follow suit and if Other Nation States,
50:17
specifically the ones that don't issue their own Fiat currencies
50:20
are also going to follow El, Salvador's footsteps.
50:24
My bet is that they will because incentives are irresistible,
50:28
right? And, I believe that on the most
50:31
basic level, I think Bitcoin wins eventually, because
50:34
something that I always tell you guys incentives are stronger
50:38
than coercion. And I think incentives are going
50:40
to win this, right? And what do they have to offer?
50:43
Shitty Fiat shitty bonds, right? It's like no people have had
50:47
enough of that. Fuck the Fiat Monte like fuck
50:50
the the money printer. Fuck these monetary demons, fuck
50:53
these high-level parasites. It's time for Bitcoin man and I
50:56
think Bitcoin is going to win this at the end of the day but
50:59
holy crap is going to be a bumpy road.
51:00
Anyways Opti is time for the movie.
51:02
Let's Do It. The daily meme review, brought
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to you by Cipher safe, don't be that person that loses their
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Bitcoin seed. Due to fire damage water damage
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only on Cipher safe dot IO. Let's go.
51:35
Okay, you already know the mean for the meme review, tweet, are
51:39
the bullets and memes are the artillery out there.
51:41
We are in an information War. As you can tell, all the Legacy
51:44
Media is is trying to dunk on bitcoin has in any way possible
51:48
but you can't stop the signal. The signal is continuing to
51:51
Bubble to the surface and and breaking through to mainstream
51:54
Consciousness. So continue to dunk on them,
51:57
continue to do the shitpost, I know, Rusty was saying that you
52:00
shouldn't be shitposting all. I was trying to say yesterday is
52:03
have more Call to Arms. Arms out there and let's get our
52:05
messaging better. So that more people understand
52:08
that we are actually fixing the world.
52:10
Anyways, this first meme is by my boy, selly, AKA at dawn
52:15
underscore T cell and he goes, there's like a night here for
52:19
those in the spaces. And it's got an arrow to debt to
52:22
another arrow. That's inflation.
52:23
It's got another arrow that Fascism and he pulls out a
52:27
Bitcoin orange potion, he drinks.
52:29
The orange pole shitty goes gulp Gulp and he breaks it all off
52:32
with his frickin big ol. Under arms, over here, Bitcoin
52:36
stays winning. You cannot keep Bitcoin down.
52:39
And this next one, this is a fractal in creeps, green shop,
52:42
but I really think it's a great meme, cuz people seem to forget
52:46
this, this messaging. So we got some person here Wendy
52:50
Wong. She goes, if the government
52:51
could just appoint, 10, reliable people, who could do all the
52:54
mining on their laptops. We could say 99.99% of energy
52:58
cost and safety in comes on and goes, congratulations, you just
53:02
invented eat. Oh man, I love that one.
53:06
I love that one. This next one is by at stack
53:09
chain quaint and this one's that's this is this is one that
53:12
hits me personally. This is when I really feel to my
53:15
soul we got a, I forget what movie this is, but the, the meme
53:20
of three people with the guns, the first person is people
53:23
living paycheck to paycheck and then we got the lady with the
53:26
gun behind her back, his back and goes businesses living month
53:28
to month, and then a gun behind her back, and he goes Banks,
53:31
living bail out to bail out. And then we got a Paper here and
53:34
it goes governments living War to war.
53:37
And then we got just like a Bitcoin cat with laser eyes with
53:40
his gun and just goes Bitcoin, living Bitcoin is, and that's
53:44
all that matters. And this next one again this is
53:47
a screenshot but I think this is a great Meme and a great call to
53:51
action in the same in the same moment and this is Allenby.
53:55
Watson has the most important question to ask every politician
53:58
is what's your stance on bitcoin tells you everything you need to
54:01
know, and he got a he got one of those spam.
54:04
I'm telemarketing text about will, you know can we count on
54:07
your vote for whatever city council by November 8th?
54:10
Stop to opt out and he responds? What's your stance on bitcoin?
54:15
An immediate response is I'm opting you out of text.
54:18
Immediately have a great day. I think we all should do that
54:23
more if I remember and I get one of these, I'm doing the same
54:26
thing. This next one is by our boy, mr.
54:28
Robot aka the Bitcoin doctor. And we tell you guys all the
54:32
time we are in the They fight you stayed where in the early
54:35
rounds and I really love what he did here.
54:37
He goes, we are past the, then they fight you stage, where in
54:40
the ring, and you can see a boxing ring right here, we got
54:43
Bitcoin as one boxer and we got, I can't even read it.
54:46
But looks like the Federal Reserve or your governments and
54:48
it goes, Freedom money, the fight for Freedom money.
54:51
We are in the ring right now and if you aren't aware, they're
54:55
coming from all sides, guys. This is why we keep telling you
54:57
guys to prepare, get yourself mentally physically and
55:00
spiritually fit for the battle, that is about to be on our
55:03
front. Des, our front step.
55:05
And this next one is by I forget what WSB is, but WSB chairman
55:11
and he goes buying the dip. Why the president warns of
55:13
nuclear, Armageddon rumors of banks blowing up and major
55:16
currencies collapsing and it's a labrador on the computer of just
55:20
buying the dip by the Bitcoin. Dip, I would not be buying any
55:24
other quote on quote dip because you're probably just burning
55:28
money. This next one.
55:29
I think I I think surf Supply does a great job here and he
55:33
goes He is key and it's just like a dictionary input of a
55:37
Bitcoin and it goes Bitcoin, er a noun.
55:40
Someone who owns Bitcoin. But to the most important, one a
55:44
person working to separate money from State.
55:48
This is what we do. This is what we continue to
55:50
spread on here. Oh yeah.
55:52
Thank you pit. Pins Wall Street bets, Wall
55:54
Street bets. I forgot, I forgot.
55:56
Anyways, a big Corner a person working to separate money from
56:00
state. So for these memes, Nico made
56:03
fun of me. Yes, today, I got, I got memed
56:05
review shamed for my score yesterday, so I'm running out of
56:10
gadgets. I'll have to go buy more
56:12
gadgets. But today's mean review, score,
56:14
is this bag for my camera tripod, the tripod bag.
56:22
Okay, your school and you go. All right.
56:24
I'm gonna give it this black electrical tape.
56:27
It's just, it's just electrical tape and it's black.
56:31
And you could use it for many things.
56:33
Not just electrical stuff, black, electrical tape.
56:37
Anyways, Michael Morrison, guys, by the way, I'll give you a
56:40
score. Give your school, Bitcoin live
56:42
dry. Drop your score in the live
56:44
chat, which is why you have to make it to live show and we will
56:47
read your score on the meme review because it's a mean
56:51
review. And that's what we do.
56:52
We review memes? Michael Morrison, says, I give
56:55
those memes a Bitcoins staring at the end of The Gun Barrel
56:58
calmly in forming, its holder you, Cannot kill me in a way
57:02
that matters if current disease, if you know the mushroom meme,
57:05
you know. Okay.
57:06
Very deep. Wow, I like that.
57:08
I like that reference man, Diaw. Janice, I give those memes
57:12
Savage safe to use Salve, save, safe is a Savage.
57:15
Okay, Oto coin, I give those memes.
57:17
My Michael sailor, pirate ship model.
57:21
Ha ha seat up. These neglected beep for cat for
57:26
Kathy scores. 69, missed messages from Kathy to say, not
57:30
broke. I'm telling you, like, if you
57:33
want to know why, Orsa, Lavon whatever and Christina, God,
57:39
dislike Opti in this like Bitcoin so much is because optic
57:42
dump them for Bitcoin and they'll never forget it ever
57:45
forget. Hey, can you blame me?
57:47
Can you blame me? You'll never forget it.
57:49
Mr. Robot Mind your business shirt from the conference, okay.
57:54
Oh, oh, if you know, you know, if you've been to the mining
57:56
conference BTC pins, I read the memes, the clown that followed
58:00
me home from the coast. I hope you're okay, man.
58:08
BTC Sovereign play by. Give those memes, a king gizzard
58:11
and the lizard wizard Red Rockets tour poster.
58:14
Wow, like that's a lot of words. I like how it flowed off my
58:17
tongue. Okay.
58:19
Have to read that again. The lizard.
58:20
The The lizard wizard read rather than the lizard, wizard
58:24
Red Rock Store, great name. It feels good to say it.
58:27
All right, Max Trotter, I give like yellow.
58:30
I Gibb immersion mining. Okay.
58:32
Very good scores. Very good scores for some
58:35
awesome emotes. There's not one medium review
58:38
scores, but I like this one. I think, I think we got a new
58:40
person here the show's. Oh my God.
58:42
That's amazing. Memes for the wind.
58:46
Possibly Greg, we got one more Opti.
58:50
We got one more from Jason. Jason says, score is Billy
58:53
breads rap song. Thanks man.
58:55
Appreciate that. I'll have to look that up.
58:57
I guess. Anyway, but good segue.
58:59
Go check out Simply Bitcoin. Unfiltered.
59:02
It's the written version of this show.
59:04
You got to go to www.simpleandsensational.com And
59:08
subscribe. It's a sub stack, it's
59:10
absolutely free. And every time every time one of
59:14
Simply Bitcoins, awesome writer shoutouts.
59:16
A crust in Paul, wine and kiss. Write an article will be sent to
59:21
your email. Sunikhosa Nico, bug him to write
59:24
something, maybe. Go also, check out, Simply,
59:28
Bitcoins telegram group. That's how you can link us,
59:29
Bitcoin memes review. It's also free go to www.ah.mil
59:33
/, this simply Bitcoin channel, it's freaking awesome.
59:36
It's a party in there. That's where you could link all
59:39
the memes and Opti will put them on the show.
59:41
You can also tag us on Twitter by the way tag, the simply
59:44
Bitcoin handle and that will also make it on this.
59:49
Employee Bitcoin in review, one last score, from Global
59:53
nonsense. I give them a wobbly Ukrainian
59:56
preached. All right, let's take out the
59:59
software update. Bitcoin software release or was
1:00:05
it a website Bible? Yeah, I websites I did, I did a
1:00:14
quick okey-doke on you this morning because I saw this one.
1:00:17
I saw this last night. Gigi reposted this and this is a
1:00:22
site by plebs pleb wrap top space.
1:00:25
You can go listen to some Bitcoin or wraps by pleb wraps.
1:00:28
It's not an English so I literally don't know what
1:00:31
language it is but you know as someone that's into rap music is
1:00:35
someone that's in German writing signal Ms, German, okay?
1:00:38
So, yeah, let's, let's start bumping some.
1:00:41
Some pleb wraps and German Spread the signal guys.
1:00:46
You imagine Opti, speaking German.
1:00:48
Oh, I can't, I can't, I should though.
1:00:50
Anyways, guys, if you guys like what we're doing here and you
1:00:54
want to listen to the signal continuously, we are on anchor,
1:00:57
we are on Spotify, we are on Apple podcast, and if you love
1:01:00
what we're doing, we are on Fallon.
1:01:02
We are a part of the valley for Value economy and you can stream
1:01:04
of some sets and you can clip us and put us on Twitter and get
1:01:08
that signal out there Nika still I'll have to log into the, the
1:01:12
fountain up. So That so that I'll do, I'll do
1:01:14
it, I'll do it. There's a if you go check out
1:01:16
btz sessions, he has something connected to his load and he can
1:01:20
read out the messages because we got to do that bro.
1:01:22
Yeah, I don't know how to do that.
1:01:23
We gotta do it out, we got it figured out.
1:01:25
Okay, awesome. Alright guys, so stay tuned,
1:01:28
we'll read some of your shout outs that you send us.
1:01:30
Thank you so much for everybody for streaming on stats on
1:01:32
Fountain, really appreciate it, guys.
1:01:35
All the support we can get. It's really appreciated, believe
1:01:40
it or not, it's very difficult to make content every day.
1:01:44
Oh man, create a burnout is real.
1:01:47
Okay guys. Thanks, we love you.
1:01:50
We're not kidding guys. We love you all, really
1:01:53
appreciate it. It really helps us if you drop a
1:01:55
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1:01:58
value, consider hitting that subscribe.
1:02:02
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1:02:05
Revolution is share this video. In fact, share all Bitcoin
1:02:10
content we have to wake up as many The normies as possible to
1:02:15
get them on our side of the football.
1:02:18
It doesn't matter where they are politically speaking.
1:02:21
Does it matter whether the left, or right, doesn't matter.
1:02:24
All you need to do as an individual is hand out and make
1:02:28
sure as many people as possible take the orange pill and when I
1:02:32
say that, I mean Bitcoin guys. We love you.
1:02:34
We will see you tomorrow, brand new episode of Simply Bitcoin.
1:02:38
See you guys later.