Latest / Simply Bitcoin / BREAKING: Federal Reserve Admits Bitcoin is Money | EP 785

Transcript

BREAKING: Federal Reserve Admits Bitcoin is Money | EP 785 · Simply Bitcoin

• 0:14
  Yeah, welcome to. The coin Live We're your number
• 0:17
  one source for the peaceful Bitcoin revolution.
• 0:19
  Code breaking news, culture and medical warfare.
• 0:20
  We will be your guide through the separation of money and
• 0:23
  state. Very interesting day today.
• 0:26
  Two things happened. Officially the Fed Now, which I
• 0:30
  think is the first iteration of an American central bank digital
• 0:33
  currency was released today officially launched today.
• 0:37
  And then also a interesting research paper coming out of the
• 0:41
  Federal Reserve branch of Cleveland.
• 0:44
  They wrote a research paper admitting that Bitcoin is money
• 0:49
  or can be money because of the Lightning Network.
• 0:52
  And it's interesting because this is completely goes against
• 0:57
  the wording from the Treasury. The Treasury released support a
• 1:00
  report late last year and the name of the report was The
• 1:04
  Future of Money and Payments. And that entire report, even
• 1:07
  though it's called the Future of Money and payments, they
• 1:10
  mentioned Bitcoin as an innovation.
• 1:12
  And we've been making the case over the last year.
• 1:15
  The reason that they didn't do that is because they can't admit
• 1:19
  that money can exist that doesn't decrease in purchasing
• 1:23
  power over time. The things that they've they saw
• 1:26
  as the future of money and pay and put money in payments are
• 1:29
  stable coins and payment platforms, right?
• 1:31
  Which would allow them to to to keep that privilege of being
• 1:35
  able to create money for free that everyone else has to work
• 1:38
  for. And because they're able to
• 1:40
  print, that money devalues everyone else holding it right,
• 1:43
  devaluing everyone else's who's holding that said, currency.
• 1:46
  So this is a very interesting day, these two things happening
• 1:50
  at the same time. Lots of coincidences over the
• 1:53
  over the last couple of weeks, right?
• 1:54
  We had the Black Rock ETF news and the next day Fidelity news.
• 1:58
  And they want fidelity and and Charles Schwab were coming
• 2:02
  together to announce they're launching some type of Bitcoin
• 2:05
  exchange And then a couple weeks before you had finance being
• 2:09
  sued by the SEC and then the next day Coinbase being sued by
• 2:13
  the SEC. Seems like the news is just
• 2:15
  comes all at once, right. It's it's it's very interesting.
• 2:19
  Anyways, we have all the information for you guys today.
• 2:21
  We're going to break it down. We're going to we're going to
• 2:23
  dive deep into it. But before we start the show and
• 2:26
  I bring up my legendary cohost, who's always optimistic, always
• 2:29
  has a giant smile on his face. His name is Optimist Fields,
• 2:33
  that's why his name is Optimist Field.
• 2:34
  He didn't send me a selfie this morning for some reason though.
• 2:37
  Why is that Opti? I woke up late.
• 2:39
  I overslept. My alarm didn't wake me up and I
• 2:43
  didn't want to get out of bed. Hence, no selfie.
• 2:45
  But let's go. We're here.
• 2:48
  We're winning. As you can tell, I've been
• 2:50
  drinking a lot of coffee. I feel great this morning.
• 2:53
  But crazy, crazy news, Nico, I I didn't even dive into this
• 2:58
  Federal Reserve paper. I I did kind of see it.
• 3:00
  It went through my radar. I might have dropped it in the
• 3:03
  show notes, but I didn't get enough time to deep dive into
• 3:06
  it. So I'm excited to hear some Nico
• 3:09
  Jones rants on this one. This is going to be interesting.
• 3:12
  And then of course guys, yesterday I am pretty sure.
• 3:16
  Let me double check. Yes, OK.
• 3:19
  Nico is not covering the video on the numbers today.
• 3:21
  So I told you guys that we would go over this video from
• 3:26
  yesterday by you. What's his name?
• 3:28
  You've all Harare about how you know?
• 3:31
  Money is just a story and I was going to tell you about the
• 3:34
  properties of money. Well we're going to go hard on
• 3:36
  this. I I do have a few articles here
• 3:39
  to explain money. Hopefully it doesn't get boring
• 3:41
  and we can get excited and and and you know educate you all at
• 3:44
  the same time. But we're going to we're going
• 3:47
  to dunk on some some some World Economic Forum members today
• 3:51
  Nico. So I I know this is right up
• 3:53
  your alley. And also we're going to, you
• 3:56
  know, educate to people about money.
• 3:57
  Like the the World Economic Forum, we just call it the
• 4:00
  Contillionaire Conference, right?
• 4:02
  Like just just call it the Contillionaire Conference
• 4:04
  because that's what it is. It's Contillionaire forum.
• 4:07
  Contillionaire Forum. Like that's really what it is
• 4:10
  like like the the, because everyone kind of sees it from
• 4:13
  like this like conspiratorial angle where it's like oh you
• 4:16
  know, these these evil people like they're like just scheming
• 4:19
  and coming up with things. But no, that's just.
• 4:22
  The the that forum and the crazy ideas that come out of that
• 4:27
  forum are not due to the necessary evil of some of these
• 4:30
  people. Maybe some of these people are
• 4:31
  inherently evil, but I really do believe it's because of the
• 4:34
  misaligned incentives of Fiat. And then you get like these like
• 4:38
  kind of like Frankenstein type of organizations and you know,
• 4:43
  the bureaucratic class has so much power.
• 4:47
  And I think that's where you get these types of conferences.
• 4:49
  I wouldn't say that it's, you know, this like type of
• 4:52
  overarching conspiracy. I think it's literally do due to
• 4:56
  broken money, broken money, broken incentives, broken money,
• 4:59
  broken incentives, like it's as simple as that anyways.
• 5:03
  Look, before we even dive it, like if you had the ability, all
• 5:07
  of you guys ask yourself this right now.
• 5:09
  And hey, I am no better than my incentives.
• 5:11
  We see this all the time. If I had the ability to
• 5:13
  manipulate money and get richer. I am pretty sure that we would
• 5:17
  all do the same thing. So you can't really blame them
• 5:19
  because they have this position, they understand that you don't
• 5:22
  know what money is, hence why they can rob from you.
• 5:24
  It's pretty simple incentives. 100%, I 100% agree with you.
• 5:30
  It's it's it's pretty simple incentives.
• 5:32
  I think that if you if you understand incentives you
• 5:34
  understand Bitcoin. I think that if you don't
• 5:36
  understand bit incentives, you don't understand Bitcoin.
• 5:39
  And the beauty of Bitcoin incentives as it's it's an
• 5:41
  aligned incentive structure, so everyone wins, right.
• 5:44
  And I don't think I haven't seen that in any other system, right.
• 5:47
  And makes Bitcoin very, very unique, makes it equal, right.
• 5:51
  It's equal across the board. Doesn't matter whether you're a
• 5:53
  billionaire or you know, you're just a humble pleb like you have
• 5:56
  to get in line like everyone else and buy Bitcoin, mind
• 6:01
  Bitcoin or earn Bitcoin. You don't have this like.
• 6:04
  Ability to get close to a money spigot, like you know that that
• 6:07
  whole thing is just kind of turned on its head.
• 6:10
  And I think what the unintended consequence of that is, is that
• 6:14
  it actually incentivizes better behavior, right.
• 6:17
  It's, it's just interesting, the whole thing.
• 6:19
  It's a very interesting phenomenon.
• 6:21
  Anyways, everybody, let's move on to numbers.
• 6:24
  We got a lot to talk about today.
• 6:25
  Let's check it out, the Bitcoin numbers.
• 6:30
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  Fire damage. You want to put your
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  generational wealth on one of the strongest metals on planet
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  earth, Titanium. Your words are actually stamped
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  into this metal plate with this hammer and these letter stamps.
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  everywhere. Titanium stamp seeds will
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• 7:30
  generational wealth. You could scan the QR code on
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  simply to get 15% off. So scan the QR code right now.
• 7:40
  Anyways, at the time of recording, the Bitcoin price is
• 7:42
  29,000. 3 The Sats per dollars 3360 Block height 799,550 Forty
• 7:50
  two blocks to having 40,000 Five 458 having estimates April 19th
• 7:57
  2024 Total Lightning Network capacity 4946 Capacity value
• 8:02
  147,000,000 U.S. dollars Realize monetary inflation 1.76% The
• 8:08
  market capitalization of Bitcoin $578 billion with a B Bitcoin
• 8:13
  versus gold. Market cap 4000 Sorry 4.44% That
• 8:18
  number is going to continue to go up in the realize monetary
• 8:20
  inflation will continue to go down.
• 8:22
  Isn't it beautiful? Anyways, Bitcoin stays winning.
• 8:25
  I have a clip for you guys. This is a retweeted video from
• 8:29
  Joe Consorty. I think he hosts the Bitcoin
• 8:32
  layer to YouTube channel and he's retweeting or tweeting a
• 8:36
  video from documenting Bitcoin. Great account, highly recommend
• 8:39
  you guys check it out. Anyways, Joe Consorty says
• 8:41
  former C List actor turned professional complainer Ben
• 8:44
  McKenzie gets refuted by a dude that read 20 pages of the
• 8:48
  Bitcoin standard now. Kind of like break it down,
• 8:51
  which I find interesting, right, is the fact that you have
• 8:56
  reporters or journalist or host or anchors, however, which way
• 9:00
  you want to call them on the legacy corporate media, on
• 9:03
  legacy corporate financial media, You know, coming to the
• 9:07
  defense of Bitcoin? Now, I only saw that happening
• 9:10
  once the BlackRock ETF was announced.
• 9:12
  Isn't isn't it interesting how just things change, right?
• 9:16
  You have Larry Fink going on CNNBC basically saying, yeah,
• 9:20
  this thing has the potential to be a global money.
• 9:23
  You know, this is going to have international consequences, like
• 9:26
  all this good stuff, talking up Bitcoin.
• 9:29
  And then that's only when you know, you kind of see this
• 9:32
  change in tune. So it makes you like, question
• 9:34
  like, were they really being sincere before when they were
• 9:37
  criticizing Bitcoin? I don't know.
• 9:40
  I don't know. But what Opti said in the very
• 9:42
  beginning of the show, right? No one is better than their
• 9:44
  incentives. Anyways, let's check out the
• 9:46
  clip and then we'll talk about it.
• 9:47
  Tom Leon earlier this he's great smart guy stock and thinks
• 9:52
  bitcoins going to 200,000. So we have you know Kathy Wood
• 9:56
  BlackRock wants to have a an ETF Fidelity.
• 10:01
  Paul Schwab, Paul Tudor Jones, as long as Stan Brockenmiller
• 10:06
  and just across the board it didn't take me long to
• 10:10
  understand how the unbank could benefit from this.
• 10:13
  And I also understand the distributed ledgers and I
• 10:15
  understand it was only, I mean I didn't you say you did a deep
• 10:20
  dive It only took me about 20 pages of the Bitcoin standard to
• 10:23
  understand that this was probably something that.
• 10:26
  You think black. So you think all these firms are
• 10:28
  going to have the egg on their face.
• 10:29
  It's it's democratized, decentralized future of money is
• 10:32
  blocked by BlackRock. I don't know black.
• 10:35
  They may be, they may. I mean if if they think it's
• 10:39
  gold, if they think it's, you know, that's why it was digital
• 10:42
  gold, right. Exactly.
• 10:43
  And that's why I was explaining the difference between no, I
• 10:46
  heard that thing and scares a lot of smart people are.
• 10:50
  So our full button, you think it's going to 0 eventually?
• 10:52
  No, that's like a, I mean, look, where do you think this story?
• 10:56
  I can't predict the future anymore than anyone else, but I
• 10:58
  would say it's going lower. Yes.
• 11:01
  Okay. Do you think eventually there
• 11:03
  will not be something called Bitcoin?
• 11:05
  It's a story, It'll last as long as people believe in it.
• 11:11
  I mean put your money where your mouth is, bro.
• 11:15
  That's all I got to say. But again, I think the news here
• 11:18
  really like the the part that I got I want you guys to pay
• 11:20
  attention to is really the fact that the change in tune from
• 11:25
  this individual, right. The fact that you know initially
• 11:31
  he initially he was or the change in tune from the anchor
• 11:37
  and legacy media, right. It was initially like look,
• 11:39
  Bitcoin's bad, you know it's this.
• 11:41
  You know that's not worth anything.
• 11:43
  And now they're like going to the defense of Bitcoin, right?
• 11:46
  And how much of that has to do with BlackRock?
• 11:49
  And I think that really, really, really has like, I think it has
• 11:54
  a giant role to play in the tune of how the legacy.
• 11:59
  Corporate financial media is covering the specific subject
• 12:02
  matter, so I find it interesting.
• 12:04
  Also, the actor kept like, kind of like rocking in his chair and
• 12:07
  he's like, it's going to be lower than it is now.
• 12:09
  I mean, bro, then short it, dude.
• 12:10
  Like, if you're so sure of it, short it he did.
• 12:14
  Nikon got wrecked. He did.
• 12:16
  Yeah, he lost a quarter million dollars.
• 12:18
  No. Yeah.
• 12:20
  Oh, so he he's like another Naseem to the.
• 12:23
  Coin Derangement Syndrome. Is that is that what we call it?
• 12:26
  Is that what we call it? We call it Bitcoin Derangement
• 12:28
  Syndrome. Yeah.
• 12:30
  Oh man, oh man. To.
• 12:31
  Your point though, to your point though, it is very interesting
• 12:34
  how the corporate press or even the mainstream consciousness is
• 12:39
  shifting on the idea of Bitcoin. And it's just absolutely
• 12:42
  hilarious that we, we still get to parade all these Bitcoin
• 12:46
  skeptics out there. You know, how many Bitcoin
• 12:48
  obituaries have we had? Like there it's like in the
• 12:50
  hundreds. And yet Bitcoin is still alive
• 12:53
  and and it's really funny. Seeing these people cope with
• 12:58
  the idea of, wait, why isn't Bitcoin dead?
• 13:02
  And instead of them changing their view on reality, they just
• 13:06
  doubled down on the idea of like, hey, there's other people
• 13:09
  that believe like me, man. And you know, it's just a story
• 13:13
  and and these people that just believe in the story, like what?
• 13:16
  What's wrong with them and how? How do they not know what I
• 13:18
  know? And it's like, hey bro, as I say
• 13:20
  all the time, you know Bitcoin. Is or the Bitcoin price is a
• 13:24
  real time metric of people's understanding of not only money,
• 13:26
  but what Bitcoin is and what can offer for the world.
• 13:29
  And we're seeing in real time all the Bitcoin Fiat skeptic or
• 13:34
  Fiat maxi Bitcoin skeptics out there just try to grapple with
• 13:39
  what is going on here and instead of facing reality.
• 13:41
  And and this is also a testament not only to like the bitcoiners
• 13:46
  out there that still use critical thinking, but to all
• 13:49
  the other people that have completely shut off their.
• 13:52
  Brain. And instead of changing their
• 13:54
  worldview and acknowledging what is and what's reality.
• 13:59
  They just double down dig their head in the in the sand and and
• 14:02
  try to avoid what's happened to deliver like La La La La, like
• 14:04
  this isn't real. This is fake.
• 14:06
  Like it's gonna go to zero. And it's like how how many years
• 14:09
  have we've heard this same narrative again.
• 14:12
  I feel like I'm in a like The Truman Show or something like
• 14:15
  you know what's that one movie where it's like, I feel like I'm
• 14:18
  taking crazy Groundhog Day. Oh yeah, Groundhog Day,
• 14:21
  Groundhog Day. And it's man, what's the one
• 14:24
  Zoolander, You know, I I feel like I'm taking crazy pills
• 14:28
  here. And This is why we tell you guys
• 14:31
  always to hang out with more bitcoiners, hang out with more
• 14:34
  people that understand what's actually happening in the world
• 14:36
  because these people that are completely detached from reality
• 14:40
  are more harmful than good for you.
• 14:42
  And yeah, you know, I love, I love all my friends and family
• 14:45
  and all about out there, but I do my best to try to show them
• 14:47
  what reality is and no amount of screeching.
• 14:51
  And saying that, oh, money is just a story will change the
• 14:54
  fact that Bitcoin has taken over the world.
• 14:56
  And again, I'm doubling down on this idea of money just being a
• 15:00
  shared fiction, delusion or all this.
• 15:03
  I I brought some receipts on this.
• 15:04
  So we're gonna, we're gonna, we're gonna thoroughly destroy
• 15:07
  the idea of money just being a story.
• 15:09
  There's very real properties that make money what it is.
• 15:12
  And if you don't understand basic economics, you know it
• 15:17
  shouts out the Thomas soul some basic economics, you're going to
• 15:20
  get wrecked and you're ahead of the curve as a bitcoiner.
• 15:23
  So continue to stack them sets, because we're winning.
• 15:27
  Yeah, we're winning, bro. Again, dude.
• 15:30
  Like, if if we're seeing a change in tune from the legacy
• 15:33
  corporate media, we're seeing a change in tune from politicians.
• 15:36
  We we we connect the dots on simply Bitcoin, everybody.
• 15:38
  Because. I think just single data points
• 15:41
  are just nothing big, nothing burgers.
• 15:42
  But if you kind of zoom out and you kind of see like the
• 15:45
  momentous change, right, whether it's, you know, the 2nd, the
• 15:50
  2nd. And so RFK Junior, you know he's
• 15:53
  second in place for the Democratic primary for president
• 15:55
  for 2024, Ron De Santis also second trailing Trump.
• 15:59
  And they're both vocally against central bank digital currencies
• 16:04
  and vocally supportive of, you know, in the Santis camp.
• 16:07
  He's big, he's supportive of Bitcoin and shitcoins and RFKA,
• 16:10
  very, very vocal supportive of Bitcoin.
• 16:13
  And I think yesterday's episode, Opti, you covered the fact that
• 16:16
  you know, he wants to basically back the dollar by hard assets
• 16:21
  that either being gold, silver, Bitcoin.
• 16:24
  Whatever. And then he wants to get rid of
• 16:26
  the capital gains tax altogether for Bitcoin increases, which is
• 16:30
  just crazy. Like, if you think about it for
• 16:32
  a second, like, think about that for a second, right?
• 16:35
  They want to charge you because you're using better money and
• 16:38
  your money actually goes up in value over time.
• 16:41
  And they want they want you to pay a tax for that.
• 16:44
  Which is just interesting and of course you know color within the
• 16:46
  lines, you know you got to do what you got to do, which is
• 16:48
  legal and all that stuff. But they just kind of question
• 16:51
  that for a second, right? They force you to use money that
• 16:56
  decreases in purchasing power over time, right?
• 17:00
  And when you choose to opt out into a money that increases in
• 17:04
  purchasing power over time, they want to tax you for choosing
• 17:07
  that better money. Like I think that's a very, very
• 17:10
  interesting discussion I think. I think the cats out of the bag
• 17:15
  when the everyday average individual starts asking very
• 17:20
  basic questions like why are we being forced to use a money that
• 17:25
  that steals from us. And I think that is you know,
• 17:28
  that is my main goal as my purpose in life right now is to
• 17:32
  break out of the Bitcoin echo chamber and get that idea cuz a
• 17:35
  very powerful, simple idea. Into the the mainstream
• 17:40
  consciousness because I think that once they realize that,
• 17:44
  once they grasp that, I think we win like it is game is game, set
• 17:48
  and match. And I think that's precisely why
• 17:52
  the, you know the the treasury or the, you know, the current
• 17:57
  administration. Is so vocally against this.
• 18:00
  I think that, you know, that's why the Treasury just completely
• 18:03
  left out the the mere concept of Bitcoin being money in the 1st
• 18:08
  place. Because if they validate that
• 18:11
  idea in the eyes of the public, the whole, the whole, the whole
• 18:17
  shtick is done. Their ability just to create
• 18:20
  money, print money, the privilege of the government for
• 18:23
  just to be able to print money, that's over.
• 18:26
  It's done and dusted. Right.
• 18:27
  So I think that's why they're avoiding it so much.
• 18:30
  But I think, I think sooner than we anticipate, I think a lot of
• 18:36
  people are going to be asking that very basic question.
• 18:38
  Why are we being forced to use the money that seals from us?
• 18:41
  Anyways, everybody, no more delay.
• 18:43
  Let's jump straight into the news.
• 18:44
  We had a lot to talk about today.
• 18:45
  Let's check it out, the Daily News.
• 18:50
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  custody of your Bitcoin. All right guys, before we get to
• 19:28
  it, I kind of want to cover this.
• 19:30
  Kuwait regulator bans Bitcoin and shitcoin payments,
• 19:34
  investments and mining. The prohibitions are an effort
• 19:37
  to meet requirements set by the FATFA on preventing money
• 19:42
  laundering via crypto. The Capital Markets Authority
• 19:45
  said right. So in itself, I always ask you
• 19:48
  guys to zoom out and connect the dots.
• 19:51
  If you just look at the news headline alone, you're like,
• 19:54
  this is just noise, this is just nothing.
• 19:57
  This is a bunch of BS kind of connect the dots.
• 20:00
  We've covered the Financial Action Task Force before.
• 20:03
  We've read you the papers from the United Nations before.
• 20:06
  And one of their one of their narratives, right?
• 20:09
  Remember, there's a narrative that BlackRock used back in
• 20:12
  2018. That is the reason as to why
• 20:15
  they, you know, they didn't want to get involved in Bitcoin.
• 20:18
  What was the reason? Money laundering?
• 20:20
  Money laundering? Well, we know Fatfa that the
• 20:24
  vast majority of money laundering does not happen in
• 20:28
  Bitcoin. The vast majority of money
• 20:31
  laundering, and when I say vast, I really mean most of it.
• 20:35
  Happens in U.S. dollars. It happens via the banking
• 20:39
  system. It does not happen via Bitcoin,
• 20:43
  right. So I don't believe the FATFA
• 20:46
  when they do this. I don't believe regulators when
• 20:50
  they do this. But this is what I'll tell this
• 20:52
  is what I'll tell you know, this is what I'll say about Kuwait,
• 20:54
  and this is the beauty of Bitcoin.
• 20:56
  Kuwait wants to have fun staying poor.
• 20:58
  This just creates another opportunity for another
• 21:01
  jurisdiction. To pick up where Kuwait left
• 21:05
  off, we saw this happen in China.
• 21:07
  What happened in China? China banned Bitcoin mining and
• 21:11
  they banned Bitcoin. What happened?
• 21:13
  The hash rate migrated to other places around the world.
• 21:16
  Friendlier jurisdictions mining China lost all lost out on all
• 21:21
  that mining revenue. A lot of Bitcoin and shitcoin
• 21:23
  companies left China. And what happened two or three
• 21:26
  years later, China is now using Hong Kong, right?
• 21:31
  And saying, hey, you know what, Actually, we want you guys to
• 21:34
  come back because we do want to benefit from NGU technology.
• 21:37
  So Kuwait, what I gotta say to you is you're following the
• 21:42
  advice from the high priests of Fiat and the high priests of
• 21:50
  whatever, like, so be it. That's, you know, you're just
• 21:52
  shooting yourself. You're just shooting yourself in
• 21:54
  the metaphorical foot. In the long haul, and again, I
• 21:58
  think that, yeah, you could, you could ban people from, you know,
• 22:02
  banning using Bitcoin using financial rails.
• 22:05
  But there is a paper that was released by the I MF and the I
• 22:08
  MF is even admitting that these types of bans don't work.
• 22:12
  It's interesting because in countries that like in in
• 22:16
  countries where they don't have the financial privilege of
• 22:19
  having a stable Fiat currency and those countries you see the
• 22:23
  highest use. Of Bitcoin and shitcoin payments
• 22:26
  and the biggest tell is Argentina and Argentina, when
• 22:29
  they got that bailout from the IMF, just to kind of give you an
• 22:32
  idea of how spooked these people are, part of that bailout came
• 22:36
  with the condition that the government of Argentina had to
• 22:39
  deincentivize the adoption of Bitcoin, right?
• 22:42
  Even though Fast forward, a year later they got the bailout, they
• 22:45
  followed the advice of the IMF and all that.
• 22:48
  You know they had hyperinflation a year later and guess what
• 22:52
  Bitcoin adoption has never been higher in Argentina.
• 22:54
  So like and then take a look at El Salvador.
• 22:57
  What happened to El Salvador? I the I MF said, hey if you make
• 23:00
  Bitcoin legal tender, it's going to make, you know, money
• 23:03
  laundering, financial instability, they they said all
• 23:07
  these things are going to happen to El Salvador.
• 23:08
  Well, what happened? The exact opposite happened.
• 23:12
  So maybe the I MF is like Jim Cramer.
• 23:14
  Maybe countries have to do the exact opposite of what the I MF
• 23:17
  has is advising. And I mean, if you're reading
• 23:21
  the work by Alex Gladstein, he's done a great, incredible job
• 23:24
  unveiling a lot of the BS at the I MF has been doing for, for
• 23:28
  decades now. I mean.
• 23:30
  Like, dude, I I think it's a it's an evil Fiat institution.
• 23:34
  And I don't say that lightly, bro.
• 23:35
  I don't say that. I don't say those words lightly.
• 23:37
  The evil Fiat institution that I think has been, you know, really
• 23:42
  taking advantage of all these poor countries and now when you
• 23:46
  know the these these developing countries have an alternative to
• 23:50
  that system and it's a better alternative.
• 23:55
  Of course they're incentivized to lie about it.
• 23:57
  Of course they're incentivized to throw shit at it.
• 24:00
  I mean, remember that article by Naim Boo Kelly, Don't drink the
• 24:03
  Elites kool-aid. I mean, he says it right there,
• 24:05
  right? They're going to lie.
• 24:06
  They're going to, they're going to smear, they're going to
• 24:08
  misrepresent, they're going to print.
• 24:10
  They're going to do whatever it takes in order to maintain that
• 24:13
  that privilege of being able to create money for free that
• 24:16
  everyone else has to work for. Full stop, you know?
• 24:19
  So anyways, Opti, what's your take?
• 24:21
  I mean, you know. Poor, poor, poor Kuwaitis.
• 24:24
  I know it's a very wealthy, kind of small oil rich country, but
• 24:28
  at the same time you know, they they are shooting themselves in
• 24:30
  the metaphorical foot at the end of the day.
• 24:33
  Yeah, I mean, I've said this before in the past.
• 24:35
  I love seeing governments try to ban Bitcoin because it just goes
• 24:38
  to show why you need uncensorable money.
• 24:40
  Like thank you Kuwait for making our point for us.
• 24:44
  Like Kuwait will not stop the use of Bitcoin a globally, let
• 24:48
  alone in their own country. This will just strikes and
• 24:50
  affect people to use Bitcoin. If Bitcoin was so useless, why
• 24:54
  they need to ban it? Like if you know Bitcoin was no
• 24:57
  threat, why do you need to ban it?
• 24:58
  Like these are the questions that I think people will ask
• 25:00
  themselves. Maybe not right away, but
• 25:03
  Bitcoin is the separation of money in state and honey badger
• 25:06
  don't care. So you can't ban Bitcoin.
• 25:09
  You can only ban yourself from Bitcoin.
• 25:10
  Kuwait's leadership hates its citizens.
• 25:12
  Convince me otherwise. Bitcoin is a law.
• 25:14
  Embrace Bitcoin. And if you are in Kuwait, this
• 25:18
  should This should be a clear signal why you should have some
• 25:21
  money in Bitcoin, why you should have some savings in Bitcoin.
• 25:25
  Because they they can't stop it. Like it.
• 25:27
  This is a global phenomenon. And again, if your government
• 25:30
  wants you to not use a money that separates.
• 25:35
  The state from your money, I don't know about you, but that's
• 25:37
  clear signal for me. That's a buy signal if I've ever
• 25:40
  seen one. That is a buy signal.
• 25:41
  That's that's a that's a pure buy signal.
• 25:44
  It's it's an obvious buy signal. Anyways.
• 25:47
  Anyways guys, let's let's move on to the big news for today.
• 25:51
  So 22 crazy things are happening at the same time.
• 25:56
  Today's the day the Federal of the Federal Reserve, the Fed
• 26:00
  launches long-awaited Instant Payment Service.
• 26:02
  I always tell you guys about the framing and how how framing is
• 26:06
  important in media, right? The long-awaited instant
• 26:09
  payments. Like who's awaiting it?
• 26:11
  I'm not awaiting it, I don't think like if you were to
• 26:14
  approach an everyday person on the street and you were like,
• 26:17
  yo, are you excited about the Fed Now they'd be like, what the
• 26:20
  fuck are you talking about, bro? So I mean, like.
• 26:22
  It's it's it's remember and remember the hit pieces released
• 26:25
  by Reuters, right. So you you understand where what
• 26:29
  side of the fence they're on. They're not on Team Orange,
• 26:32
  they're on Team Green, they're on Team Central Bank digital
• 26:35
  currency anyways, so moving on. Goes on to say the US Federal
• 26:41
  Reserve has launched a long-awaited service which will
• 26:44
  aim to modernize the country's payment system by eventually
• 26:48
  allowing everyday Americans to send and receive funds in
• 26:51
  seconds, 24 hours a day, seven days a week.
• 26:54
  The central bank announced on Thursday the quote Fed Now
• 26:58
  service or service. Which has been in the works
• 27:01
  since 2019, will seek to eliminate the several day lag it
• 27:05
  commonly takes cash transfers to settle, bringing the US in line
• 27:08
  with countries including the United Kingdom, India, Brazil,
• 27:12
  as well as the European Union, which where similar services
• 27:15
  have existed for years. And remember I I suspect that
• 27:18
  this is the Trojan horse, like this is the the the, you know,
• 27:22
  the first foot in the door. Don't take it from bitcoiners on
• 27:26
  the Internet. That RFK has said that, you
• 27:28
  know, Ron DeSantis has said this as well, right.
• 27:31
  So you have the governor of Florida, you have, you know, you
• 27:33
  have a Democrat presidential candidate and they're both
• 27:36
  saying this like this is the Trojan horse.
• 27:38
  Like it don't believe the, you know, the, oh, this is just to
• 27:42
  make payments more efficient and you know, forget about it.
• 27:46
  Anyways, it goes on to say Fed Now is launching with 41 banks
• 27:49
  and 15 service providers. Certified to use the service
• 27:53
  including community banks and large lenders like JP Morgan,
• 27:56
  Chase, Bank of New York Mellon and U.S. bank Court.
• 28:00
  But the Fed plans to onboard more banks and credit unions
• 28:03
  this year. the Fed said on Thursday in a statement that 35
• 28:06
  banks and credit unions were currently currently utilizing
• 28:09
  the service as well as the Treasury Department's Bureau of
• 28:12
  Fiscal Service. The service will complete with
• 28:14
  will compete with private sector real time payment systems
• 28:18
  including the Clearing Houses RTP network.
• 28:21
  And was initially opposed by big banks who said it was redundant,
• 28:25
  but many have since agreed to participate on the BET basis.
• 28:28
  Fed now will allow them to expand their services that they
• 28:31
  can offer clients for us quotes Fed now really is a wonderful
• 28:35
  way of expanding reach. It goes on to say unlike
• 28:39
  peer-to-peer payments like. Services like Venmouth and
• 28:43
  PayPal. Now here's the thing, right?
• 28:45
  I I can tell you guys like wording is really fucking
• 28:49
  important, right? Unlike Peertopeer services,
• 28:52
  Venmo and PayPal aren't Peertopeer.
• 28:55
  All right? Like, if I pay, if I send money
• 28:57
  to OPTI via Venmo or Venmo or PayPal, it is.
• 29:01
  I send it, it goes through an intermediary, which is PayPal,
• 29:05
  and then it goes to OPTI. But remember the framing, right?
• 29:08
  It's like unlike Peertopeer Services, like they're trying to
• 29:11
  incept you with an idea. It's like the when they're using
• 29:15
  the terms hosted wallet versus unhosted wallet, framing and
• 29:19
  wording is really, really important.
• 29:22
  Anyways, it goes on to say, unlike Peertopeer payment
• 29:24
  services like men Mauer PayPal, which acts as intermediaries
• 29:27
  between banks, payments made via Fed now will settle directly in
• 29:31
  central bank accounts. The Fed also operates a real
• 29:35
  time payment system called Fed Wire, but that that's reserved
• 29:38
  for large scale, mostly corporate payments and is only
• 29:41
  operational during business hours.
• 29:43
  While the Fed Now system is for everyone, it's likely to benefit
• 29:47
  consumers and small businesses the most.
• 29:49
  Quote, we want our clients to benefit from these capabilities
• 29:53
  and we want them to be a they. We want that to be a competitive
• 29:57
  edge for us smaller banks which often connect.
• 30:00
  To Fed Wire via larger lenders Encourage the Fed to develop Fed
• 30:05
  Now, arguing that it would allow them access to real time
• 30:08
  payments without having to pay larger competitors for the
• 30:11
  service. Anyways, here's my take on all
• 30:17
  this. I believe that this is a
• 30:24
  response to Bitcoin. I think that this is no, I think
• 30:29
  that this isn't necessary when something like Bitcoin exists.
• 30:33
  I think that this was solely developed so that governments
• 30:38
  can't, as governments in the state can retain control of
• 30:41
  money. I think it's a solution.
• 30:43
  I think it's a, it's a solution searching for a problem now that
• 30:48
  we clearly have a better system. That system is Bitcoin and I
• 30:52
  think. You know, there's been Bitcoin
• 30:53
  entrepreneurs that have proven right that you don't necessarily
• 30:57
  have to use Bitcoin, the commodity, but you can use the
• 30:59
  Bitcoin network to facilitate instantaneous payments, right.
• 31:04
  So again, I think that this is a a, you know, a solution
• 31:08
  searching for a problem. Anyways, kind of want to pivot a
• 31:12
  little bit and talk about, you know, the paper.
• 31:14
  So and and again lots of coincidences these two
• 31:18
  announcements came. Very closely to each other in
• 31:22
  terms of days. But I want to focus on this,
• 31:24
  right. This is a, this is a study by or
• 31:27
  research paper done by the Treasury and it was done late
• 31:32
  last year and it was a response to an executive order that was
• 31:35
  released by the Biden administration, right.
• 31:39
  And the name of the paper is the Future of Money and pay and
• 31:42
  payments and if you go to it. There's a specific section where
• 31:46
  they focus on what they believe are the future of money and
• 31:50
  payments, and it's on page. It's on page 14.
• 31:56
  And in that page, right, it's really, it's really, really
• 31:59
  interesting. I could find it here we go 1314.
• 32:04
  Recent innovations in money and payments.
• 32:06
  Recent years have seen innovations in money you and in
• 32:09
  money US retail and wholesale payments and cross-border
• 32:12
  payments. Some of these innovations build
• 32:13
  additional user functionality on top of existing payment systems.
• 32:17
  But two innovations are more fundamental therefore may have
• 32:21
  far reaching implications. Instant Payment Systems and
• 32:25
  Stablecoins Instant Payment Systems are an important upgrade
• 32:28
  to the current payment system. Stablecoins aspire to be a new
• 32:32
  type of money supported by a novel payments technology.
• 32:35
  However, stablecoins present a greater number of risks related
• 32:39
  to their financial and technological characteristics
• 32:42
  compared to instant payments. And other existing forms of
• 32:45
  money and payments make it, making it more difficult to
• 32:48
  predict the impact of stablecoins on the future of
• 32:51
  money and payments, right? Now, what's really interesting
• 32:54
  though, right, is that they're talking about the Instant
• 32:58
  Payment systems. Well, they just released their
• 33:01
  version of an instant payment system that's not in the hands
• 33:04
  of the private sector like Venmal, like cash, like cash
• 33:07
  app. Like, you know, a bunch of
• 33:09
  others, PayPal. But isn't it weird that they
• 33:14
  literally have a research report called Recent Innovations and
• 33:18
  Money and Payments? And they completely leave
• 33:22
  Bitcoin out of the report altogether.
• 33:25
  And you know what they focus on a lot in this report?
• 33:29
  The introduction of central bank digital currencies.
• 33:32
  Is that, is that interesting? It's a lot of, it's a lot of
• 33:35
  coincidences. But at the same time, This is
• 33:37
  why I find this so fascinating. Here's a research paper that was
• 33:41
  released by the Federal Bank, Federal Reserve Bank of
• 33:44
  Cleveland. I'm going to read you the the
• 33:46
  initial paragraph. But they're basically admitting
• 33:49
  that the Lightning Network has turned Bitcoin into money.
• 33:53
  So the same day, or roughly around the same day that the
• 33:56
  Federal Reserve officially launched the CBDC in the United
• 34:00
  States of America or the the Trojan horse to the CBDC is
• 34:04
  around the same time that the Federal Reserve or one of the
• 34:06
  branches of of the Federal Reserve has finally admitted.
• 34:10
  That you know that Bitcoin is money anyways.
• 34:13
  It goes on to say the Lightning Network is a means of netting
• 34:16
  Bitcoin payments outside the blockchain.
• 34:18
  We find a significant association between Lightning
• 34:21
  adoption and reduced blockchain congestion, suggesting that
• 34:24
  Lightning has helped improve the efficiency of Bitcoin as a means
• 34:28
  of payment. But if you kind of go, if you go
• 34:30
  back to this, there is no mention of Lightning.
• 34:34
  In, you know, in the Treasury reports, it's just, it's just
• 34:38
  interesting how they just leave that out altogether.
• 34:41
  And you have to ask yourself like why would they leave it out
• 34:45
  altogether anyways? It goes on to say this
• 34:48
  improvement cannot be explained by other factors such as changes
• 34:51
  in demand or the adoption of SegWit.
• 34:53
  We find mixed evidence on whether increased
• 34:56
  centralization, the Lightning Network has approved its
• 34:58
  efficiency. Our findings have implications
• 35:01
  for the future of cryptocurrencies as a means of
• 35:04
  payment. And here's the the the funny one
• 35:07
  and their environmental impact, right.
• 35:10
  So it's just interesting, very, very interesting that all these
• 35:12
  things are happening at the same time.
• 35:15
  Here's what I got to say. I think Fed Now is.
• 35:22
  Definitely the first iteration of a CBDC in the US we know that
• 35:27
  they don't have the political support to, you know, pass it in
• 35:32
  Congress. There's some states including
• 35:34
  Florida that have all like they've just banned it outright.
• 35:38
  So I think that they're really trying to use the back door, the
• 35:42
  the, the the current administration has talked about
• 35:46
  how they want to roll out a CBDC.
• 35:49
  That in that paper called the Future of Money and Payments,
• 35:52
  they talk about the necessity of having a CBDC.
• 35:56
  And I think the smoking gun is the fact that they just
• 36:00
  completely leave out Bitcoin as a form of money, as a form of
• 36:04
  payments. And I believe that they leave
• 36:06
  out Bitcoin not because they, you know, they're like, oh,
• 36:10
  you're like we can't create a a more efficient payment system
• 36:13
  than Bitcoin. I think they leave out Bitcoin
• 36:16
  because if they acknowledge it. I think that they would have to
• 36:20
  acknowledge that a money can exist without inflation.
• 36:24
  And if the money can exist without inflation, goodbye to $1
• 36:28
  trillion deficit spending in the US, Goodbye to government
• 36:32
  spending money they don't have. Goodbye to endless wars, goodbye
• 36:38
  to the the enrichment of politicians that are close to
• 36:43
  the Fiat money spigot. Why is it that some House, some
• 36:48
  members of the House of Representative, and some members
• 36:50
  of Congress are worth 10s of millions of dollars even though
• 36:53
  they're supposedly on a government salary?
• 36:57
  Why is that? It is a very important question,
• 37:00
  right? It's just like common sense,
• 37:02
  like why is that happening? Well, it's because of their
• 37:04
  proximity to the Fiat money printer, right?
• 37:08
  So anyways, just very interesting where we are in this
• 37:12
  moment in time, but at the same time.
• 37:15
  You know they they at least the branch of the Fed has admitted
• 37:19
  the fact that hey, you know what, because of lightning now
• 37:23
  Bitcoin is money and that completely contradicts the
• 37:26
  Treasury stance on it. And that completely contradicts
• 37:29
  the White House's stance on it as well.
• 37:32
  And we had Caitlin long on two days ago.
• 37:34
  The episode drops on Saturday and she admitted on on that
• 37:39
  episode she she's come on twice on the show but she admitted
• 37:41
  because Larry asked her. You know, why was custodian?
• 37:47
  Like, why were they? Why were they denied a federal
• 37:50
  banking charter? And she said the orders came
• 37:52
  straight from the White House, right.
• 37:54
  And remember the presidential economic report that came out a
• 37:57
  couple months ago? They dedicated 20 entire pages
• 38:00
  of that report making the case as to why central bank is
• 38:04
  necessary to financial stability.
• 38:07
  And making the case as to why CBDC is necessary and also
• 38:12
  making the case, most importantly, that Bitcoin can
• 38:15
  never be money. Because Bitcoin is in fact by
• 38:18
  the state, right. So Oh my God, so many things are
• 38:21
  happening. Crazy, crazy Newsday, Opti, I
• 38:25
  think. I think we're, I think we stay
• 38:26
  winning, brother. I think we stay, we stay
• 38:29
  winning. We just got to keep shining the
• 38:31
  light. Of truth on this man.
• 38:33
  We just got to shine the light. We can't get stuck in the left
• 38:36
  and right bullshit the the the divide and conquer strategy We
• 38:41
  just got to shine the light you know and and the and I think
• 38:44
  just get people to take the orange pill.
• 38:46
  Come on our side it's a lot it's a lot nicer here.
• 38:48
  It's a lot more hopeful. Optimistic.
• 38:50
  So beautiful optimistic. It's a lot more optimistic.
• 38:53
  You know, I do have a take on this, but before I get into
• 38:56
  that, before I forget. It's very interesting, like what
• 39:00
  we do here every single day on simply Bitcoin is because
• 39:03
  remember what they're trying to do with like the Ministry of
• 39:05
  Truth stuff, you know, they're they're trying to black hole so
• 39:08
  much information. And what we do is we just
• 39:11
  constantly bring the receipts and counter all the BS from the
• 39:14
  corporate press. And you know, just show the
• 39:18
  hypocrisy every single day and just continue to shed that light
• 39:22
  on the idea that they're just trying to keep people
• 39:25
  distracted. You know, keep them in the left
• 39:27
  and right divide when it's really all about the money and
• 39:31
  you know what's the what's the mean, follow the money and
• 39:33
  you'll see what is actually going on.
• 39:35
  And this is what we constantly do.
• 39:37
  Just follow the money trail and it becomes very obvious what is
• 39:40
  actually going on. That's why we always say fix the
• 39:42
  money, fix the world. But anyways, on the articles
• 39:45
  that you just showed, I really love how the Fed has done
• 39:50
  everything in its power to say that the Fed now is not a CBDC
• 39:54
  like. Yes, maybe.
• 39:55
  You know, technically speaking it isn't the full blown version,
• 39:59
  fleshed out version of a CBD. No, don't even invite you to
• 40:02
  that. I don't even invite.
• 40:03
  I know that's the point. That's the point.
• 40:05
  Like that's their narrative. It's like oh you know, like this
• 40:07
  isn't really a CBDC, but like. It's kind of a CBDC like trust
• 40:13
  us guys, we aren't trying to do anything nefarious.
• 40:16
  Again, do not call a CBDC central bank digital currency.
• 40:19
  It's all about central bank digital control.
• 40:21
  This is the framing that we need to continue to double down.
• 40:24
  And again, what's the mimetics? Nothing is more official than
• 40:28
  the official denial. So obviously them officially
• 40:31
  coming out like this isn't a CBDC bro.
• 40:33
  Trust us. It's just hilarious.
• 40:35
  Like if it wasn't so nefarious and disgusing.
• 40:39
  Like, we'd be laughing, except we just get pissed off and start
• 40:42
  ranting. But it is very interesting the
• 40:46
  amount of banks and rather that it's all the biggest banks in
• 40:50
  the US that have joined this Fed Now system.
• 40:53
  Things that make you say, hmm, it's almost like they are trying
• 40:57
  to corral every single U.S. citizen into this system.
• 41:00
  And like you pointed out, the framing of the Fed now in that
• 41:03
  article, I think it is, is further proof.
• 41:07
  That these initiatives are being rolled out because of Bitcoin
• 41:09
  and Bitcoin has forced that narrative again.
• 41:12
  They have to compete on the free market now.
• 41:14
  And the entrepreneurs out there, the Bitcoin entrepreneurs, all
• 41:17
  you bitcoiners out there, have proven time and time again that
• 41:21
  they cannot compete on the free market.
• 41:24
  As as I say all the time. And I think I think this makes
• 41:27
  Nico feel bad or weird when I always say this like.
• 41:31
  You can't trust the government to do anything efficient.
• 41:33
  The the bureaucrats out there just mess everything out and
• 41:36
  here we are just constantly seeing that they can try to
• 41:40
  frame this however they want but they they just fail at
• 41:43
  everything. And I really love that
• 41:46
  peer-to-peer thing that you just destroyed like peer-to-peer
• 41:50
  payments between Venmo and whatever they said like that is
• 41:53
  absolutely laughable. It's it's again.
• 41:58
  If it wasn't so disgusting and nefarious, we could just sit
• 42:00
  here and laugh about it, but we keep keep bringing the receipts
• 42:03
  on this. And hey, the the game's been
• 42:06
  exposed. But to that last article from
• 42:09
  the Fed, the Cleveland Fed, I think that Fed article headline
• 42:13
  Lightning Network turning Bitcoin into money is just
• 42:16
  amazing. It's just like a wow, like
• 42:18
  winning so hard. It's absolutely just awesome to
• 42:22
  see that, even in their official writings.
• 42:25
  As much as they try to frame this as like bitcoiners are
• 42:28
  losing and Bitcoin isn't the future of money, they keep
• 42:32
  saying the quiet part out loud. Whether that is, we want to
• 42:35
  control your transactions completely.
• 42:37
  We want surgical control of your transactions.
• 42:40
  We want to. Again, sorry Nico, we want to
• 42:44
  make you poorer by design. And then they come out and say
• 42:48
  like, hey, Bitcoin, maybe, wait, maybe there's something here in
• 42:51
  the Lightning Network and maybe it actually is the future of
• 42:54
  money. But hey, let's just dig it in
• 42:56
  some other noise so that you forget what's actually going on.
• 42:58
  And this is the genius of what we keep doing is just bringing
• 43:01
  the receipts, exposing the parasites with with a little bit
• 43:05
  of light and they scatter like cockroaches.
• 43:08
  It's absolutely. Awesome to be a bitcoiner and
• 43:11
  have that foundation of truth and and the basic fundamentals
• 43:16
  of Bitcoin just continue to expose all the hypocrisy, all
• 43:20
  the bad incentives of the Fiat world and slowly but surely all
• 43:24
  the ripples are going to fade away.
• 43:27
  Obviously that's going to take a long time.
• 43:28
  We are turning the Titanic around, but man, if you ever had
• 43:32
  doubt that Bitcoin isn't the way, hey, just ask the Fed.
• 43:38
  Bitcoin is money. Yeah, I mean I mean it depends.
• 43:42
  It depends who you ask. I feel, I feel like they're
• 43:44
  they're kind of they're they may be a bit divided anyways.
• 43:48
  Anyways guys before we move on I want to give a shout out to the
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  Stack friends who stack Sats. Anyways, everybody, no more
• 44:42
  delay. Let's jump straight into the
• 44:44
  culture. I think Opti has a.
• 44:46
  I'm going to rant. I'm ranting today.
• 44:48
  OK, opti's getting on his soapbox.
• 44:50
  I'm excited. Yes, I am.
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  All right. All right.
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  Let's do this, boys. Here we go, boys and girls.
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• 46:03
  Anyways, Opti, what are we talking about today?
• 46:04
  My. Friend.
• 46:05
  All right, Nico, I think you're gonna love this video here.
• 46:08
  I think this is gonna be a good one to get you triggered.
• 46:10
  But anyways, guys, I brought this up yesterday.
• 46:12
  Actually, me and Dell both brought it up, but we didn't
• 46:15
  actually get enough time to play you the clip itself.
• 46:18
  Because, again, it just exposes the incentives.
• 46:21
  It exposes their narrative. It exposes the game wide open.
• 46:25
  And again, just to rehash for you guys that maybe weren't here
• 46:28
  yesterday or forget what I'm talking about, we have this
• 46:30
  tweet here by American Heart only goes antihuman technocrat.
• 46:33
  Think boy. Yuval Harari was on Lex Friedman
• 46:36
  recently and here he talked about Bitcoin.
• 46:38
  Pay specific attention to the last sentence about Bitcoin.
• 46:42
  It's a story around the math, which is the real magic.
• 46:45
  So again, this was Yuval Huari on Lex Lex Friedman's podcast.
• 46:50
  And this is just a short snippet, but this really double
• 46:54
  s down on the idea that we've been hearing recently about, you
• 46:57
  know, money being a story or Bitcoin being a story.
• 47:01
  That money is a shared hallucination and basically
• 47:04
  running on the idea that, oh, money can be anything we say it
• 47:07
  is, just as long as we say it is, it'll be money.
• 47:10
  And the reason I wanted to bring this up today.
• 47:12
  Is because we're going to break down the idea of what money is
• 47:16
  and what the money properties are.
• 47:17
  We we pretty much destroyed the whole idea of money is just a
• 47:20
  story yesterday. But let's listen to this video
• 47:23
  because I I think it's important to hear it from the horse's
• 47:26
  mouth himself. So here we go.
• 47:27
  It's the same thing with economics.
• 47:29
  People think oh, economics, this is rational.
• 47:31
  It has nothing to do with fictional stories, no.
• 47:34
  Money is the most successful story ever told, much more
• 47:39
  successful than any religious mythology.
• 47:41
  Not everybody believes in God or in the same God.
• 47:44
  Everybody, almost everybody believes in money, even though
• 47:47
  it's just a figment of our imagination.
• 47:50
  You know, you take these green pieces of paper dollars, they
• 47:53
  have no value. You can't eat them.
• 47:55
  You can't drink them. And today, most dollars are not
• 47:58
  even pieces of paper. They are just electronic
• 48:01
  information passing between computers.
• 48:04
  We value them just for one reason, that you have the best
• 48:08
  storytellers in the world, the bankers, the finance ministers,
• 48:12
  all these people. They are the best storytellers
• 48:14
  ever. And they tell us a story that
• 48:18
  this green little piece of paper or this bit of information, it
• 48:22
  is worth a banana and as long as everybody believes it, it works.
• 48:27
  So at which point does a fiction when it's sufficiently useful
• 48:31
  and effective. And improving the global quality
• 48:34
  of life, Does it become like accepted reality?
• 48:39
  Like there's a threshold which just people believe it.
• 48:41
  It's up with money, you know, if you start a new cryptocurrency,
• 48:45
  if if you're the only one that believes the story, I mean,
• 48:48
  again, you cryptocurrencies, you have the math, of course, but
• 48:51
  ultimately it's storytelling. You're selling people a story if
• 48:55
  nobody believes your story. You don't have anything.
• 48:59
  But if lots of people believe the Bitcoin story, the Bitcoin
• 49:02
  can be worth thousands and 10s of thousands of dollars.
• 49:06
  Again, why? I mean, you can't eat it.
• 49:07
  You can't drink it. It's nothing.
• 49:09
  It's the story around the the math, which is the real magic.
• 49:17
  Interesting that he said. Well, we always say, but it is
• 49:21
  pretty funny. That people just double down on
• 49:24
  the idea of of you know, Bitcoin, just a story.
• 49:27
  And if we tell a better story that then that will be money.
• 49:30
  Which in in context to what Nico just showed us about the CBDC
• 49:34
  and the Fed now is that not what they're trying to do is roll out
• 49:38
  their CBDC system, the Fed now system and say hey look, we have
• 49:41
  a better story than Bitcoin and just trust us bro, like this
• 49:45
  isn't about central bank digital control.
• 49:47
  This is about faster digital payment and innovation anyways.
• 49:52
  I wanted to break down the idea because we talked about it
• 49:54
  yesterday. The ideas of the best money have
• 49:59
  certain properties and and you can't just make a story up and
• 50:01
  say that oh this is the new money.
• 50:03
  You can only do that if you have the monopoly on violence, which
• 50:06
  the state does, which most Keynesians love to double down
• 50:09
  on the idea that only a state issued money can be currency and
• 50:14
  now we have a free market money which is Bitcoin.
• 50:16
  Anyways, I'm over here on Bitcoin Magazine, got this
• 50:18
  article by Eric Yates called Bitcoin Dimensions of Money.
• 50:21
  And he kind of did a nice little synapse here of the purpose of
• 50:25
  money. So people specialized to achieve
• 50:27
  economies of scale and scope. Specialization necessitates
• 50:30
  trade. Trade necessitates money.
• 50:32
  Before money, systems of barter were used that inefficiently
• 50:35
  required a coincidence of interest.
• 50:38
  In small groups this was possible, but as organizations
• 50:40
  scaled, these coincidences became increasingly burdensome.
• 50:44
  As groups grew larger, those which utilize forms of money to
• 50:48
  facilitate transactions in store wealth were able to become more
• 50:51
  specialized in their productive capacities, allowing more
• 50:53
  sophisticated forms of organization to emerge and
• 50:56
  living standards to rise. The purpose of money is to
• 50:59
  facilitate trade, which allows groups to specialize and
• 51:02
  organize with greater complexity, defining money
• 51:05
  Barter systems are forms of direct trade.
• 51:08
  While monetary systems are forms of indirect trade, goods used in
• 51:11
  indirect trade are naturally converged upon, again naturally
• 51:15
  converged upon, i.e., chosen freely through iterations of
• 51:18
  trade because they have properties that most people
• 51:21
  want. Most often, goods that maintain
• 51:23
  these properties are desired because they are most likely to
• 51:26
  present a coincidence of interest with other parties.
• 51:29
  In this sense, money enables a system of indirect change.
• 51:32
  Or as Karl Monger Menger wrote in The Origins of Money.
• 51:35
  We find the relative ability for a good to be sold in the given
• 51:38
  market at the time and price desired.
• 51:40
  As a good sale ability, market participants converge upon the
• 51:44
  most saleable commodity over time through many transactions.
• 51:47
  Eventually, the good that is most widely accepted and best
• 51:50
  maintained value over time will become money.
• 51:53
  By using money, market participants can protect
• 51:56
  themselves from depending on any coincidence of interest in the
• 51:59
  future. Now doubling down on the idea of
• 52:02
  what are the best properties for money, we jump over here to VJ.
• 52:05
  The boy of parties, The bullish case for Bitcoin.
• 52:07
  If you have not read this or listened to it, highly recommend
• 52:10
  you make it through this because it really not only thoroughly,
• 52:14
  destroys the idea of Keynesians and you know.
• 52:19
  State back money it explains the bullish case for Bitcoin.
• 52:22
  Anyways we go into this article when stores of value compete
• 52:26
  against each other it is to put specific attributes that make a
• 52:29
  good store of value that allows one to out compete another at
• 52:32
  the margin and increase demand for it overtime.
• 52:34
  While many goods have been used as stores of value as proto
• 52:37
  money, certain attributes emerge that were particularly demanded
• 52:41
  and allowed goods with these attributes to out compete
• 52:43
  others. And this is what we constantly
• 52:45
  say is Bitcoin is that you can't just choose anything to be
• 52:48
  money. Yes, you can do that if you are
• 52:50
  being threatened by someone with guns.
• 52:52
  But money, and especially now that we have a free market
• 52:56
  money, they have certain properties and people will
• 52:59
  converge on those properties over time.
• 53:02
  There isn't this like 1 conscious movement by all humans
• 53:06
  to get to that point. Over time, through time and
• 53:09
  space, people will make their way to the most saleable good in
• 53:13
  the economy, something that stores its value through time
• 53:15
  and space. This is the basics of it
• 53:17
  anyways. The properties of money that we
• 53:20
  have known and are starting to add to for the for I don't know.
• 53:24
  Since humans had money, are durable, the good must not be
• 53:27
  perishable or easily destroyed. It must be portable.
• 53:29
  The good must be easy to transport and store, making it
• 53:32
  possible to secure it against lost or theft and allowing it to
• 53:35
  facilitate long distance trade. It's got to be fungible. 1
• 53:38
  specimen of the good should be interchangeable with another of
• 53:41
  equal quantity. Without fungibility.
• 53:43
  The coincidence of wants problems remains unsolved.
• 53:46
  It's got to be verified. Reliable.
• 53:47
  The good must be easy to quickly identify and verify as
• 53:50
  authentic. It's got to be divisible.
• 53:52
  The good must be easily subdivided.
• 53:54
  Hence why in the past there was gold and silver money and now we
• 53:58
  have dollars, which is bills and coins and then scarce.
• 54:03
  As Nick Sabo termed it, a monetary good must have
• 54:06
  unforgeable costliness. In other words, the good must
• 54:09
  not be abundant or easy to either obtain or produce in
• 54:12
  quantity. Scarcity is perhaps the most
• 54:14
  important attribute of a store of value, as it taps into the
• 54:18
  innate human desire to collect that which is rare.
• 54:21
  It is the source of the original value of store of value.
• 54:25
  The next is established history, and this is probably where
• 54:28
  Bitcoin gets the most beat up, because it's only been around
• 54:31
  for 14 years. The longer the good is perceived
• 54:33
  to have been valuable by society, the greater its appeal
• 54:36
  as a store of value. And as we're constantly showing
• 54:39
  in the modern world, when there's everyone's getting the
• 54:43
  platform. The government's telling you
• 54:44
  what you can't and can't buy because everything is already
• 54:47
  digital. Censorship resistant is the
• 54:49
  newest attribute which has become increasingly important in
• 54:53
  our modern digital society with pervasive surveillance.
• 54:56
  In its censorship resistance, that is how difficult it is for
• 54:59
  an external party such as a corporation or state, to prevent
• 55:02
  the owner of the good from keeping and using it.
• 55:04
  And we got this nice little chart here so that we can
• 55:07
  compare Bitcoin, gold and Fiat. You know, Bitcoin maybe not as
• 55:10
  durable as gold, but it's more durable than Fiat.
• 55:13
  Bitcoin is obviously more portable than gold and Fiat.
• 55:16
  Digital money for the digital world?
• 55:17
  Send it across the world in 10 minutes.
• 55:19
  It's got a it's a little less fungible than gold.
• 55:22
  It's more verifiable than Bitcoin.
• 55:24
  All you got to do is run a node, verify your money for yourself.
• 55:28
  It is obviously divisible. We know this Sats.
• 55:32
  You know 100 million Sats in a Bitcoin.
• 55:34
  It is the most scarce thing on planet earth.
• 55:37
  You cannot recreate digital scarcity.
• 55:39
  Yes, gold is pretty scarce, but Fiat is literally unlimited.
• 55:42
  Unlimited divided by 21 million and then like we said.
• 55:46
  Bitcoins established history is only 14 years old.
• 55:48
  Gold's been around for thousands of years.
• 55:50
  Fiat in its current iteration has only been around for what,
• 55:53
  100 years or so? Bitcoin censorship resistance
• 55:56
  the only money that is censorship resistant in the
• 55:58
  world anyways. I jumped over here to Parker
• 56:03
  Lewis's Gradually Then Suddenly series.
• 56:05
  Another great article you guys should read.
• 56:08
  Sometimes you got to just pull up the classics and and
• 56:11
  reiterate the same message. And this is Bitcoin obsoletes
• 56:14
  all other money. Money is a necessity.
• 56:17
  Civilization as we know it would not exist without money.
• 56:19
  Without money there would be no airplanes, no cars, no iPhones,
• 56:22
  and the ability to fulfill every basic necessity would become
• 56:26
  materially impaired. Millions of people could not
• 56:28
  peacefully inhabit a single city state.
• 56:30
  Your country without the function of money.
• 56:32
  Money is the economic good that allows food to reliably show up
• 56:36
  on grocery stores, gas to be at the gas station, electricity to
• 56:39
  power homes, clean water to be abundant, etcetera.
• 56:41
  It is money that makes the world turn, and it would not turn in
• 56:44
  the way that most have taken for granted if not for the function
• 56:48
  of money. It is a massively
• 56:49
  underappreciated function, one that is poorly understood
• 56:53
  because it is generally not consciously considered in the
• 56:56
  developed world. Reliable money is taken as
• 56:58
  given. So too are the basic.
• 57:00
  Delivered through the coordination function of money.
• 57:03
  Again, doubling down on this because this is the point of the
• 57:07
  conversation where we can thoroughly destroy Ben McKenzie
• 57:10
  and Yuval Harari, and this does not happen by chance.
• 57:14
  Some not so rigorous thinkers suggest that money is either
• 57:17
  collective hallucination or that it derives value from the
• 57:20
  government. In reality, money is a tool that
• 57:22
  was invented by man to satisfy a very specific market need.
• 57:26
  In facilitating trade, money helps facilitate this activity
• 57:29
  by acting as an. Intermediary between a series of
• 57:32
  present and future exchanges without any conscious control or
• 57:36
  direction. Market participants evaluate
• 57:38
  various different goods and converge on the tool with the
• 57:41
  properties best suited to facilitate the very express
• 57:44
  purpose of converting present value for future value.
• 57:46
  Whereas individual consumption preferences vary from person to
• 57:49
  person and change constantly, the need for exchange is
• 57:52
  practically universal and the function is distinctly uniform
• 57:56
  for every individual. Money allows for value produced
• 57:58
  in the present to be converted into consumption.
• 58:01
  In the future, the value one places on a home, a car, food,
• 58:04
  leisure, etcetera naturally changes over time and logically
• 58:07
  varies from person to person. But the need to consume and the
• 58:10
  need to communicate preferences does not change and applies to
• 58:13
  all individuals on an intersubjective basis.
• 58:16
  Again breaking this one down, Parker Lewis is is one of the
• 58:19
  one the best Bitcoin educators in my opinion.
• 58:23
  Go read the whole series, but money exists to communicate
• 58:25
  these preferences and ultimately value, but recognizing that all
• 58:29
  value is subjective and on. Intrinsic money forms the
• 58:31
  baseline to establish an expression of value and more
• 58:35
  importantly, relative value. Money represents the collective
• 58:38
  recognition that everyone benefits from the existence of a
• 58:41
  common language to communicate individual preferences.
• 58:43
  It aggregates and measures the preferences.
• 58:46
  Of all individuals within an economy at any point in time.
• 58:49
  And it would not be possible, or at the very least extremely
• 58:52
  inefficient to communicate value if not for a common constant
• 58:55
  upon which everyone could agree. Think of money as the constant
• 58:58
  again which to measure all other goods.
• 59:00
  If it does not exist, everyone would be a pract in a practical
• 59:04
  standstill and not able to agree on the value of anything.
• 59:07
  Again, I brought this tweet up yesterday, shouts at the Jeff
• 59:09
  Shawan Jeff Swan Agris view on Twitter.
• 59:11
  And he goes, if you think any can be anything can be money
• 59:14
  because it's just a shared fiction, you're going.
• 59:16
  To have a bad time, anything can't be money.
• 59:20
  Yes, in certain scenarios, you know, like if you're in jail,
• 59:23
  you can make cigarettes be money.
• 59:24
  Or you know, over time they've convinced everyone that paper
• 59:28
  debt I/O uses money. We know, I think inherently,
• 59:33
  that you do not want to hold something through time and space
• 59:36
  that another person can dilute. What's the question?
• 59:38
  Nico always asks. Why are we being forced to a
• 59:41
  money that other people can create for free?
• 59:43
  This is the fundamental question here.
• 59:45
  Digital scarcity is the innovation here. 21 million hard
• 59:49
  cab. Yes it's digital money for your
• 59:51
  digital world but it's about storing your wealth and
• 59:54
  something that cannot be debased.
• 59:56
  And again I'm doubling down and using Hoddles tweet here because
• 1:00:00
  Hoddle is a great storyteller and if we are going to talk
• 1:00:02
  about storytelling and and the only thing about Bitcoin is a
• 1:00:06
  story we say it all the time. We understand that we are in.
• 1:00:10
  The war for the hearts and minds of the masses.
• 1:00:12
  And this is about storytelling to some extent, but it's about
• 1:00:15
  communicating the money properties that make Bitcoin
• 1:00:18
  superior to all other monies or even currencies in the world and
• 1:00:22
  the best store of value, medium exchange and unit account that
• 1:00:25
  we have. Period.
• 1:00:27
  Here's hot oh clear to me that Harare and the Weef, the
• 1:00:29
  Cantilon forum think they can compete with Bitcoin by copying
• 1:00:33
  its cryptography and telling a better story.
• 1:00:36
  Their story. Live in a pod, eat bugs,
• 1:00:37
  Subjugate yourself. A story so unpleasant it will
• 1:00:40
  only be repeated under duress at the barrel of a gun.
• 1:00:43
  Our story. Live freely, trade freely, live
• 1:00:46
  a life of significance, own the fruits of your labor, and bow to
• 1:00:49
  NO1A story so beautiful people would defend it with their
• 1:00:52
  lives. A story that's American.
• 1:00:54
  As apple pie, by the way, Bitcoin is not a shared fiction,
• 1:00:57
  but a shared recognition. And I brought the means for this
• 1:01:00
  an emerging understanding of something profoundly new and
• 1:01:04
  simultaneously ancient. You guys all have come to the
• 1:01:08
  conclusion that Bitcoin is the best money because you
• 1:01:12
  understand the money properties and you understand what is going
• 1:01:15
  on. Anyways, Nico, I realize I've
• 1:01:17
  been ranting for probably way too long, but it's so it's so
• 1:01:21
  simple. There is.
• 1:01:24
  No way. You can just say that, oh, this
• 1:01:27
  can be money unless you have the guns.
• 1:01:29
  What do we always say? The state has the monopoly on
• 1:01:32
  violence and This is why Bitcoin is the separation of money in
• 1:01:34
  state. The only reason they can get
• 1:01:36
  away with all this crazy bullshit is because they can
• 1:01:39
  print unlimited money to fund whatever nonsense they have,
• 1:01:43
  irregardless or wait, regardless of reality.
• 1:01:48
  Well, we are snapping back to reality, We're snapping back to
• 1:01:51
  base layer and it is because Bitcoin.
• 1:01:54
  Beautiful, beautiful St. They don't call him St.
• 1:01:57
  Opti for no reason. I'm going to give him a round of
• 1:01:59
  applause. Give me one second.
• 1:02:05
  Yeah. I mean, look, it comes out when
• 1:02:08
  the central planners are just like, yeah, Bitcoin is not
• 1:02:11
  money. It comes out in the treasury
• 1:02:14
  document that we just covered right?
• 1:02:15
  Where, you know, the in the in the eyes of the government, you
• 1:02:18
  know, it's it's like what they say is money is money.
• 1:02:22
  And everything else is, you know, it's not money, right?
• 1:02:27
  I think that money is determined by the free market.
• 1:02:30
  I think the free market is going to say, look, This is Money,
• 1:02:34
  this isn't money. And you know, there's so many
• 1:02:37
  examples. I think that it tends to kind of
• 1:02:41
  flow to the thing that is scarcest because I think that is
• 1:02:46
  the thing that is able to. The thing that is not easy and
• 1:02:51
  it's not easy to replicate, it's not easy to kind of devalue,
• 1:02:55
  right? It's it's it's the market
• 1:02:57
  determines what is money. And I think that naturally the
• 1:03:00
  market flows into the scarcest asset.
• 1:03:04
  This is the scarcest thing. I think that's what that's like
• 1:03:07
  the natural what's aggression's law.
• 1:03:09
  Yeah, it's just like the natural tendency of things.
• 1:03:11
  So, you know, it's not what Christie Lagarde says his money.
• 1:03:15
  It's not what Janet Yellen or the Treasury says.
• 1:03:17
  It's money. It's what the market says.
• 1:03:20
  It's money. The market gets to decide like
• 1:03:22
  This is Money. Like do you think that in
• 1:03:25
  Nigeria or in Venezuela or in Argentina or in Turkey, Like do
• 1:03:29
  you think that the people there like really take what their
• 1:03:32
  equivalent of of the Treasury Secretary is saying on TV?
• 1:03:36
  Like do they, do you think that they really take them seriously
• 1:03:38
  or are they concerned about putting food on the table for
• 1:03:42
  their families and if they were to use the state, approve the
• 1:03:46
  money? And they that would be hard to
• 1:03:49
  do, right. So kind of Bitcoin comes along
• 1:03:53
  and it kind of completely redefines what money is.
• 1:03:57
  And and I think it does that because of its scarcity.
• 1:04:00
  I think it does that because of its, of its properties as well,
• 1:04:03
  because of its ability to, you know, instantaneously be sent
• 1:04:09
  across the planet and settle within a block, right.
• 1:04:14
  That that thing, that transaction ain't going
• 1:04:16
  anywhere. And after three blocks, I would
• 1:04:20
  even say after two blocks like that's that's that's
• 1:04:22
  irreversible, that's set in stone forever.
• 1:04:26
  So I mean Bitcoin is better money, but I think it it really
• 1:04:29
  that's a really important question to ask.
• 1:04:32
  What is money in the 1st place? What is money to you?
• 1:04:37
  I would say money is money is time, money is energy and if you
• 1:04:43
  have this like. If you look at it from an energy
• 1:04:48
  perspective and you have a leaky battery and that over time that
• 1:04:56
  that battery just, you know if it was at 100% you know ever so
• 1:05:00
  slowly depends where you are right.
• 1:05:02
  Because if you're in Argentina that batteries like you like
• 1:05:05
  it's it's going down fast but you know in in in the developed
• 1:05:09
  world, right. Is that battery like it's you
• 1:05:12
  know the the the key it's only it only loses 2%.
• 1:05:15
  Well, imagine if the battery existed that not only did it not
• 1:05:20
  kind of lose its energy over time, it kept it.
• 1:05:23
  But not only did it keep it, that that battery kind of
• 1:05:27
  charges itself in a way it actually, you know, it actually,
• 1:05:31
  it actually becomes, you know, it's able to.
• 1:05:36
  To increase over time, it kind of changes dynamics altogether.
• 1:05:41
  And no matter how much this guy Harare or whatever tries to spin
• 1:05:45
  it, that it's a story and that it's this is just, it's anything
• 1:05:48
  that we say. It is like economic reality has
• 1:05:52
  not shown that. Like if that were the case, then
• 1:05:55
  printing money wouldn't devalue other people's money.
• 1:05:59
  Like if we could just say, look, this money is whatever whatever
• 1:06:03
  we say it is, which it totally is.
• 1:06:06
  Like money could be like Opti brought up the the example about
• 1:06:09
  the prisons, right. Like in like cigarettes become
• 1:06:12
  like this form of currency. Well, it's because it's like
• 1:06:14
  scarce in there, right. It's like very hard to get more
• 1:06:18
  of them. So it's like it kind of like
• 1:06:20
  naturally becomes this like transaction medium this way to
• 1:06:24
  transact. Yeah man it's it's so
• 1:06:28
  interesting but it's it's it's fascinating watching these
• 1:06:32
  things clash. And I'm so glad that you played
• 1:06:34
  that clip because that's very similar to, like the pompous C
• 1:06:39
  list celebrity type of attitude when he went on CNNBC.
• 1:06:42
  And he was like, like, it's like okay.
• 1:06:45
  You can kind of deny it and you can go with your fictitious
• 1:06:47
  money all you want and your idea of what money is.
• 1:06:51
  But the market is telling me that Bitcoin is currently worth
• 1:06:54
  29,730 U.S. dollars and ten years ago was worth nothing.
• 1:07:02
  So I'm choosing, right, because of my incentives.
• 1:07:07
  I think incentives are important, You know, to use this
• 1:07:11
  money because I believe it's better money, right?
• 1:07:14
  Do you know of another better money?
• 1:07:15
  Please let me know. Please let me know in the
• 1:07:17
  comments. I don't think there is one.
• 1:07:19
  Anyways, before we move on to the meme review and it's going
• 1:07:22
  to be a it's going to be a long show, but it's OK.
• 1:07:24
  It's OK You got to reclaim ownership of your money,
• 1:07:28
  Speaking of money. And the way that you do that is
• 1:07:31
  by running your own Bitcoin node.
• 1:07:33
  If you don't run your own Bitcoin node, you're using
• 1:07:36
  someone else's Bitcoin node. You want to use your own Bitcoin
• 1:07:39
  node. And this is the noddle.
• 1:07:41
  It makes some of the best nodes ever.
• 1:07:43
  This is the noddle one. It's a full Bitcoin node and
• 1:07:46
  also allows you to connect to the lightning network and
• 1:07:49
  enables you to connect both with the Bitcoin and lightning
• 1:07:52
  networks. And your noddle acts as a back
• 1:07:54
  end to the most popular Bitcoin and Lightning applications you
• 1:07:56
  want to run. Running a personal Bitcoin note
• 1:07:59
  is the greatest addition that you could do make to your
• 1:08:02
  financial privacy, and this is the Noddle Dojo.
• 1:08:05
  Yes, it's in red and that definitely means it's faster.
• 1:08:08
  And I'm not joking. Run your own wallet back, end
• 1:08:11
  with Samurai Dojo and enjoy the state-of-the-art coin joining
• 1:08:14
  with the Samurai Whirlpool, both straight out of your noddle
• 1:08:17
  hardware. So guys, if you're not running
• 1:08:20
  your own Bitcoin node by now, definitely, definitely run one.
• 1:08:23
  But no more delay. Let's jump straight into the
• 1:08:25
  ream review, the daily Meme Review.
• 1:08:34
  Brought to you by Kaboom Racks. I get this question all the
• 1:08:36
  time. Nico, where should I buy Bitcoin
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• 1:09:04
  All right guys, this is meme review.
• 1:09:05
  Will you send me memes on Twitter?
• 1:09:07
  Tag me at Simply Bitcoin TV on Twitter to your awesome memes.
• 1:09:12
  Or maybe you find someone else's awesome memes and you want it to
• 1:09:15
  get reviewed. Or drop the tweets.
• 1:09:18
  In our Telegram group, we have a lot of people that drop just the
• 1:09:22
  just the snippet. I want to give people credit,
• 1:09:25
  you know, just the just the. The picture and accept the JPEG,
• 1:09:28
  but if you get it on Twitter, drop the tweet itself so I can
• 1:09:32
  give the original creator credit for what he has done.
• 1:09:36
  Anyways, tweet to the bullets means to their tillery.
• 1:09:38
  We are in an information war. As you can tell, the trillion
• 1:09:41
  dollar sign up campaign is doing its best to try to convince you
• 1:09:44
  that money is a story and you can use anything as money.
• 1:09:47
  As long as we tell you it is peasant they can go fuck
• 1:09:51
  themselves because we are bitcoiners.
• 1:09:52
  We opted out of the madness we have.
• 1:09:56
  Opted into a permissionless money that isn't going to be
• 1:09:59
  easily debased Anyways, 1st meme shout out the Nico.
• 1:10:03
  Well shout out to the therapist and he goes, good morning.
• 1:10:06
  I'm actually gonna kind of dunk on Nico and the therapist here
• 1:10:08
  because I think it's hilarious. But we got the 300 meme here and
• 1:10:12
  we got Bitcoin. At first they ignore you and
• 1:10:14
  then we got zero. See here as the dollar.
• 1:10:16
  And then they laugh at you and then they got the dollar and the
• 1:10:20
  euro and what says you on fighting?
• 1:10:23
  The Spartans. Because then they fight you.
• 1:10:25
  And then we have, I forget what's his, what's his name, the
• 1:10:29
  the king, the main dude, Leonidas.
• 1:10:31
  Then we got Leonidas yelling with Bitcoin behind it.
• 1:10:34
  And then you win. And then then we got Stephen
• 1:10:37
  Levka. Here goes.
• 1:10:38
  But Sir, that's not how that movie ends.
• 1:10:40
  And then Nika, damn it, Walker, you ruined it, ruining the meme.
• 1:10:43
  This is what we do, actually. This is not how the movie works.
• 1:10:47
  But first, wait, what's the meme?
• 1:10:49
  First they fight you, then they laugh at you, and then they.
• 1:10:52
  Or first ignore, then they laugh at you then.
• 1:10:53
  And they fight you, and then we win.
• 1:10:54
  And then you win, bro. So we're in the then they fight
• 1:10:58
  you stage guys, so it's only a matter of time until we win.
• 1:11:01
  Let's go. OK, This next one is by Julian
• 1:11:04
  under score Lineager at Relay App and he goes Bitcoin is dead.
• 1:11:10
  And I love these memes because it constantly explains that
• 1:11:15
  everyone thinks bitcoins is tulips, Bitcoin is a bubble,
• 1:11:18
  Bitcoin is dead, and all the Bitcoin obituaries out there.
• 1:11:21
  But. Bitcoin never dies.
• 1:11:23
  OK, so we got that historical Bitcoin price here and it goes.
• 1:11:27
  Bitcoin is a bubble when it goes up and then it drops and you
• 1:11:30
  know, crashes in a bear market. Bitcoin is dead and Bitcoin is a
• 1:11:33
  bubble. Bitcoin is dead and Bitcoin is a
• 1:11:35
  bubble. And they will be saying this
• 1:11:37
  until Bitcoin. Gets to the millions until
• 1:11:40
  Bitcoin is the world reserve currency.
• 1:11:42
  They will literally say Bitcoin is a bubble when it goes up,
• 1:11:45
  when it goes parabolic and they will say it's dead when it
• 1:11:48
  corrects and one day it won't correct.
• 1:11:51
  Okay. This next one is by RDBTC, one
• 1:11:53
  of our boys and he's got Peter Griffin here and it goes
• 1:11:57
  hoddling Bitcoin. Be like and you see Peter
• 1:11:59
  Griffin here just squinting eyes with laser eyes and everyone's
• 1:12:03
  freaking out around him and he is just sitting still.
• 1:12:06
  Hasn't moved in days and months. And he's just holding on to his
• 1:12:09
  position hoddling Bitcoin. Be like this.
• 1:12:12
  You just stack sats, take your Bitcoin into self custody, let
• 1:12:16
  everyone freak out around you, let the Bitcoin price get super
• 1:12:19
  volatile and what do you do? You just keep stacking, you keep
• 1:12:22
  hodling. Because nothing's changed.
• 1:12:24
  The fundamentals of Bitcoin have not changed.
• 1:12:27
  It's only people's understanding of what Bitcoin is that has
• 1:12:30
  changed. It's a Fiat currency that is
• 1:12:32
  volatile, not Bitcoin. Bitcoin is constant.
• 1:12:34
  You know one Bitcoin equals one Bitcoin.
• 1:12:35
  Sats are my stablecoins. Anyways, this next meme is by at
• 1:12:39
  Bitcoin Bully Boy and he goes, I made my first meme at meaning
• 1:12:42
  Bitcoin at simply Bitcoin TV Hashtag.
• 1:12:44
  Stay humble Stack sets and I think this is the this is a
• 1:12:48
  clever tongue in cheek. Alternative of Stay humble stack
• 1:12:52
  sets and we got a train going off a broken bridge into the
• 1:12:58
  depths. This might actually be like a
• 1:13:02
  old western movie. Spaghetti western movie, I
• 1:13:04
  forget. Anyways, you guys remain vain.
• 1:13:06
  And stay on the Fiat Choo Choo train or stay humble and stack
• 1:13:10
  sets. I don't know.
• 1:13:11
  The choice is yours. You can opt into Freedom Money,
• 1:13:14
  you can opt into a money that doesn't get the base, or you can
• 1:13:18
  get forced to use Fed. Now the choice is yours.
• 1:13:21
  Why You still have the choice? I would make the choice anyways.
• 1:13:24
  This next meme is by BTC Pins and he's doing.
• 1:13:27
  The classic Anakin Padme meme here.
• 1:13:29
  And we go, Anakin going, I'm going to back the US dollar with
• 1:13:32
  Bitcoin and Padme goes, it will be fully redeemable for Bitcoin,
• 1:13:36
  right? And he does the smirk and then
• 1:13:38
  she goes, wait, I'll just keep using Bitcoin, then go fuck
• 1:13:40
  yourself. It's Bitcoin guys.
• 1:13:42
  I'm not here to fix the dollar. We are here.
• 1:13:45
  Just stack them sets and let Bitcoin be the new reserve
• 1:13:49
  currency. Anyways, this next meme is by at
• 1:13:51
  empty under score Banks or aka run the banks and it goes.
• 1:13:53
  Just a reminder Reminder they will do everything in their
• 1:13:56
  power to stay relevant, hoping to avoid the inevitable.
• 1:13:59
  It will be a slow process but inescapable.
• 1:14:01
  You thought politicians pandering for dollars was bad.
• 1:14:04
  These clowns pandering for your Bitcoin will be on a whole new
• 1:14:07
  level. Stay true the old saying Bitcoin
• 1:14:10
  exposes corruption and we have a Bitcoin.
• 1:14:14
  What is this thing called again? A steamroller, Bitcoin
• 1:14:16
  steamroller, steamrolling, all of Fiat currencies.
• 1:14:21
  And this last one shout that to our boy Vikingo who's added to
• 1:14:24
  the lexicon. The stay humble stack set, Stay
• 1:14:26
  humble stack set, Stay solvent. This is what you need to
• 1:14:29
  remember. Anyways, he's got a picture here
• 1:14:32
  of a tunnel and the light at the end of the tunnel and Vikingo
• 1:14:35
  goes, can you see the light at the end of the tunnel and on?
• 1:14:37
  Are you solving enough to make it to the other side?
• 1:14:41
  Stay humble. Stacks that stay a solvent.
• 1:14:44
  This is the way. Continue to Hoddle those coins.
• 1:14:46
  Continue. Just stay humble as we win and
• 1:14:51
  usher in the bright orange future.
• 1:14:53
  Anyways, drop your meme review score in the chat over there on
• 1:14:55
  the other side of Nico and we will cover hours live.
• 1:14:59
  All right, let me see. Let's go.
• 1:15:02
  All right, so I'm using again our boy 99 signs he might be a
• 1:15:06
  Bitcoin maximist. And I'm just ran.
• 1:15:08
  You might think that I planned this, but I'm not.
• 1:15:11
  I just opened up a page and we're at signed 52.
• 1:15:15
  You believe that Bitcoin is the hardest money ever created?
• 1:15:19
  Wow, that. What's that?
• 1:15:21
  What's the saying, Nico? There are no coincidences.
• 1:15:24
  There are no conspiracies, but there are also no coincidences.
• 1:15:27
  Let's go. Let's go.
• 1:15:29
  Let's go. All right, I am going to give
• 1:15:32
  it. I don't know.
• 1:15:35
  I don't know. I don't know, dude.
• 1:15:39
  Big, big, do the trinkets. Oh, oh oh, this thing, this like
• 1:15:44
  fascia thing for your skin. I can't see.
• 1:15:46
  I can't see. Like massages.
• 1:15:49
  Show me. Oh the the What is that?
• 1:15:51
  Yeah, like. The metal thing, it like
• 1:15:53
  stretches like for your fascia, Yeah, If you know, you know.
• 1:15:56
  If. If you don't think you're like.
• 1:15:58
  I don't think you're saying it right, but I know what you're.
• 1:16:00
  I swear it's like to stretch the fat, like if you have so like
• 1:16:02
  muscle sores and stuff. I don't think it's called fascia
• 1:16:06
  though. No, it's the fat.
• 1:16:07
  Fascia is like the the skin between.
• 1:16:10
  It's what holds the skin with the muscles.
• 1:16:12
  It's like spice, you know? If you know you know at least
• 1:16:16
  you use at least you use the meme correctly.
• 1:16:18
  If you know you know I YKYK anyways anyways.
• 1:16:24
  Guys if you if, if, if. If let us know your meme scores,
• 1:16:36
  put them in the. We got some, we got some, we got
• 1:16:39
  some. And OK, first one.
• 1:16:41
  I give those memes a Bitcoin sticker from Block Stream the P
• 1:16:46
  Man van. Here's to the Fatfa.
• 1:16:48
  Augustine Carson's Eating All Fiat.
• 1:16:52
  Everyone was saying, wait, you're saying Fatfa or you know
• 1:16:55
  what I'm saying? You know what we're saying?
• 1:16:58
  Elaine Opti Wins Saturday Night Night Fever, Dance Contests at
• 1:17:02
  Pacific Bitcoin Festival, Shirt Framed and Hung, and Bitcoins.
• 1:17:07
  Hey, this should come. You know how to dance.
• 1:17:10
  Dude, I got some moves. Sat wise janks, I give these
• 1:17:14
  memes Gotham's Joker and Penguins spit roasting Ben
• 1:17:18
  Mckenzie's gym court. Yeah, OK.
• 1:17:21
  Whoa, whoa, yeah. So my meme review score is
• 1:17:25
  Opti's blood caffeine level. They're high.
• 1:17:28
  They gotta be enough to kill an elephant.
• 1:17:31
  Very nice, very nice. Let me see, Let me see.
• 1:17:35
  I think that might be it there. I might have missed one though.
• 1:17:38
  Yeah. Oh, wait, here we go.
• 1:17:42
  Here we go. Yeah, I did miss one.
• 1:17:44
  Randy BI score the Memes opti's Pajama top.
• 1:17:48
  It's not pajama. It's.
• 1:17:51
  I wanna say it's French Terry, but it feels like a towel.
• 1:17:54
  It's like a towel. It's not a pajama top.
• 1:17:56
  It's a vacation shirt. Your boy's on vacation every day
• 1:17:59
  now. It's a vibe, a Hawaiian shirt
• 1:18:01
  vibe forever. All right, one more.
• 1:18:04
  One more. All right, ran more score
• 1:18:08
  Bitcoin. Sorry, I I'm I didn't, I didn't
• 1:18:11
  check that one. No good.
• 1:18:14
  Dennis lesson Meme score. Give them all one of Mike's
• 1:18:18
  monsters like shit. Coins not.
• 1:18:20
  Good for him. All right, Mike getting roasted.
• 1:18:23
  That that's from the other day. Mike was drinking a Monster
• 1:18:26
  Energy drink and he was getting roasted.
• 1:18:28
  Jim Asito, I give the Memes the Bouquela, 2024.
• 1:18:32
  All right, all. Right.
• 1:18:35
  That's it. Hold on, hold on, hold on.
• 1:18:37
  Yeah. There we go.
• 1:18:37
  There we go. It's hot cuz we run out.
• 1:18:39
  It's cuz of the buzzer. It's cuz of the buzzer.
• 1:18:40
  Anyways guys, thank you so much for tuning into another episode
• 1:18:42
  of Simply Bitcoin Live. If you enjoyed the show, make
• 1:18:44
  sure to smash that, but if you feel like we provided you value,
• 1:18:47
  consider subscribing. I'm your host Nico is my
• 1:18:50
  legendary Co hosts Opti. Always optimistic and if you
• 1:18:53
  want to join the after party. Join us on Twitter Spaces, which
• 1:18:57
  we cohost with our friends over at Swan Bitcoin, the best place
• 1:19:00
  to build your Bitcoin stack. Shout out to the best producer
• 1:19:02
  in the game, Producer Jacob. Guys, We love you all.
• 1:19:06
  We'll see you tomorrow. Same time, 12:15 PM Eastern
• 1:19:08
  Standard Time. Until then, stay humble, stack
• 1:19:11
  sats, and stay solvent. Peace out everybody.
• 1:19:26
  That we were going into Twitter spaces.
• 1:19:28
  Anyways, you already know the deal.
• 1:19:30
  This is a Bitcoin only space by Bitcoiners for Bitcoiners.
• 1:19:33
  So come up here, add your two sets of the conversation.
• 1:19:36
  I do not want to sit here and rant for another 30 minutes
• 1:19:39
  because I feel like I've ranched enough.
• 1:19:41
  So come up here, let's have a conversation.
• 1:19:44
  Let's talk about what happened on the show maybe.