Latest / Simply Bitcoin / Did Jordan Peterson JUST Become A Bitcoiner?! | EP 1263

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Did Jordan Peterson JUST Become A Bitcoiner?! | EP 1263 · Simply Bitcoin

• 0:00
  Yo, Michael Saylor went on one of the biggest podcast in the
• 0:04
  world. This channel has 8.7 million
• 0:08
  YouTube subscribers and was dropping Bitcoin bombshell after
• 0:13
  Bitcoin bombshell. Could this interview finally be
• 0:17
  the catalyst that wakes up retail and creates a retail
• 0:22
  flood into Bitcoin? We still haven't seen that since
• 0:25
  2021. Since 2017, retail's been
• 0:29
  complete, really asleep. But the fact that Michael Saylor
• 0:33
  is talking about Bitcoin on a mainstream podcast and I'm
• 0:37
  talking about Jordan Peterson with 8.7 million subscribers,
• 0:43
  you know, could finally thing that could finally be the thing
• 0:47
  that breaks the damn. We're going to play you guys the
• 0:49
  clip or a clip of a part of the podcast that is absolutely
• 0:54
  breaking the Internet at the moment on X.
• 0:57
  It's going viral. Everyone's losing using their
• 1:00
  minds. I believe the video is up to
• 1:02
  150,000 views and it hasn't even been out for 24 hours.
• 1:07
  Guys, Bitcoin is not only going mainstream, Bitcoin is
• 1:12
  mainstream. Let's check out the clip and
• 1:14
  then we shall talk about it. There are Bitcoin treasury
• 1:18
  companies launching in 20 different countries right now.
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  Companies are recapitalizing on Bitcoin where instead of
• 1:27
  sweeping your long term capital into treasuries, you convert
• 1:30
  your long term capital to BTC to Bitcoin just like what my
• 1:33
  company did that is spreading. There are now about 100
• 1:36
  companies that are publicly traded that have Bitcoin on
• 1:39
  that. Why won't?
• 1:40
  OK, that, that's all. There's a lot more examples of
• 1:43
  viral spreading, but the point is so, so why won't going
• 1:46
  everywhere if it's ramping up in terms of its success?
• 1:52
  And let's say that that's exponential because perhaps it
• 1:56
  might be. Why won't Bitcoin just suck the
• 1:59
  investment capital out of everything?
• 2:02
  It is and it will. That's why I'm here.
• 2:07
  That's that's so what's the consequences of that?
• 2:10
  Yeah. Here's the big idea, right,
• 2:12
  which is we're going through a digital transformation of the
• 2:17
  capital markets. The greatest digital
• 2:19
  transformation of this century is the transformation of
• 2:22
  capital. It's, it's such a profound
• 2:25
  thing. People get there's, it's at the
• 2:27
  bottom. What is capital worth?
• 2:29
  It's worth half of everything. Half of everything is capital.
• 2:35
  That is to say, any wealth, any money held as a long term store
• 2:39
  of value. That's about $400 trillion right
• 2:43
  now. And So what Bitcoin is doing is
• 2:46
  converting Fiat capital, analog capital, 20th century capital,
• 2:51
  physical capital to digital capital.
• 2:55
  I mean, Michael Saylor says that they're bluntly.
• 2:57
  And of course we're joined here with Kent.
• 3:00
  Kent is the CEO and Co founder of SAS mining, Bitcoin mining as
• 3:06
  a service, wild SAS baby. We're going to be talking about
• 3:09
  that later on in the show. But I mean, like Jordan Peterson
• 3:14
  asked like a pretty straight up question, which is like, OK, but
• 3:17
  like, doesn't that mean that like, you know, all the
• 3:20
  capital's gonna flow into Bitcoin?
• 3:23
  And Michael Saylor just says like, yeah, that's literally why
• 3:26
  I'm on the podcast right now. That is literally why my my
• 3:31
  company 100 X. And it went from a billion
• 3:34
  dollar market cap to $100 billion market cap and a span of
• 3:39
  four years. And that's why you see all these
• 3:42
  Bitcoin treasury, treasury company plays popping up left
• 3:47
  and right. People are waking up to Bitcoin.
• 3:50
  This is what happened. That podcast yesterday was
• 3:53
  historical. It was monumental.
• 3:56
  The next step after this. The same thing happened with
• 3:59
  Trump, by the way, Trump initially was not invited on the
• 4:03
  Joe Rogan podcast. It was only until a couple of
• 4:07
  weeks until the election when there was societal pressure that
• 4:13
  finally Trump went on the Joe Rogan podcast.
• 4:16
  I suspect this is one step closer for Sailor to eventually
• 4:22
  go on the Joe Rogan podcast. And the reason that that is so
• 4:25
  consequential is that is the most popular show, talk show on
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  the face of the planet with an average of 13 million plays per
• 4:36
  episode across all platforms. The fact that Michael Saylor got
• 4:40
  to do his thing, speak the Bitcoin gospel, the Satoshi
• 4:47
  gospel on Jordan Peterson is a big deal.
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  Not for us Bitcoiners, because we've heard this 1000 times.
• 4:57
  There were some things that Michael Saylor revealed during
• 4:59
  the show that I've never heard him say on any other podcast.
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  But we've heard the pitch. We know the pitch.
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  In fact, we've bought into the pitch.
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  Literally, figuratively, spiritually, emotionally, the
• 5:10
  whole Shemang, right? But normies are asleep.
• 5:15
  Normies have not woken up to this guys.
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  If you go on Google Trends, Opti, if you could pull that up,
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  you go on Google Trends, we still have not surpassed 2021
• 5:26
  and in terms of just all time highs, we haven't surpassed the
• 5:32
  2017 bull market, right? So, you know, this is one step
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  forward to that. This is one step forward to
• 5:42
  making Bitcoin part of the mainstream consciousness.
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  I'm just going to maximize this. Go on the go instead of past
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  day, go to 2004 and present, right, and go down.
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  Yeah. So as you can see that really
• 6:00
  large hockey stick line up, that was 2017, right?
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  The next one, if you go to the right Opti, that was 2021 and
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  you see the one below that, that's that's 2024.
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  That was November 2024 is the last spike, right?
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  So Bitcoin is hitting all time highs.
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  The president of the United States is talking about it.
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  And retail normally land is completely asleep.
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  They're not even aware of this. So that tells me that we still,
• 6:33
  you know, there's still a hell of a ride in front of us, right?
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  But anyways, extremely bullish moving the Overton window.
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  You guys know that. I love that word.
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  Opti want to get your take? And then, of course, we got a
• 6:43
  special guest today. We got Kent in the house joining
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  us from SAS Mining. Yeah, Well, I find the funniest
• 6:51
  part was when Jordan Peterson, like, asking, asking him.
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  He's like, wait, so you're telling me, you know, bitcoins
• 6:58
  gonna eat up all the world's capital?
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  And he's basically like, yeah, it is.
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  That is what's happening right now.
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  And. And of course, Sailor, you could
• 7:05
  argue he might be kind of pumping his own bags because
• 7:07
  he's talking about the Bitcoin treasury strategy here.
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  And then essentially everyone's following it and he's saying
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  like this is going viral. It's not just in the US.
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  It's basically in every country right now, or at least some very
• 7:19
  big countries with capital. And it is taking the world by
• 7:22
  storm. And we've been covering this on
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  the show for a long time, this idea that most people do not
• 7:26
  want treasuries right now. They're looking for
• 7:28
  alternatives. The returns, if you are using
• 7:31
  the traditional financial system, just aren't there.
• 7:33
  And yes, there is is this idea here where some people are in
• 7:38
  Bitcoin now just for profits. Now, of course, we're a little
• 7:41
  more of a I don't want to use the E word here because Nico
• 7:44
  gets mad at me all the time. We're we're more true believers
• 7:49
  in Bitcoin, if you will, and we're here for the freedom go up
• 7:52
  aspect and just the whole monetary paradigm shift that
• 7:56
  Bitcoin has unleashed on the world.
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  And you know, of course your profits going up or your your
• 8:01
  purchasing power going up is is a good plus.
• 8:04
  But what we think is going to usher into this world via
• 8:07
  Bitcoin is much more than you just getting rich, though the
• 8:10
  you know, getting wealthier part of it is is really nice as well.
• 8:13
  But it is interesting that he is having this conversation.
• 8:16
  And if you hear Sailor in that clip, you know, Jordan Peterson
• 8:19
  basically asked him like, so it's taking over the world.
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  And Michael Saylor's like, yeah, that's why I'm here, because you
• 8:27
  want to get this message out in front of as many people as
• 8:30
  possible. And whether you like Jordan
• 8:31
  Peterson or not, he's got a huge following.
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  He's got a huge influence right now that might be declining a
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  little bit. He has been in some hot water
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  recently in social media. But 8.7 million subscribers on
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  YouTube is not a small podcast. This is one of the biggest
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  podcast in the world right now. Yes, maybe if you're more
• 8:48
  left-leaning, you probably don't like what Jordan Peterson is
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  saying, but he is oh, Nika. Oh, he is exposing his audience
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  to the Bitcoin message. And Sailor is doing what we talk
• 9:02
  about here constantly trying to get the Bitcoin message in front
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  of as many people as possible. So as a lot of us has been
• 9:09
  wondering, and we just pulled up the Google trends, it seems like
• 9:12
  retail is either one asleep at the wheel right now.
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  We're at 100 and what, 8KA110K the last couple of days and no
• 9:21
  one is paying attention. This is like the most, you know,
• 9:24
  unannounced bull run start we've seen in forever.
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  It seems like people just aren't noticing what's going on.
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  There's, you know, there's all kinds of chaos in the world
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  right now to distract people. But I've been kind of staying
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  and someone echoed it in the chat.
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  I don't think it's just necessarily retail with a sleep
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  at the wheel. Excuse me.
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  I think retail is just super broke now.
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  Like there is no more free money in the system.
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  I think the numbers of credit card debt is at the highest it's
• 9:51
  ever been. We're seeing, you know, housing
• 9:54
  market. There's way more sellers than
• 9:55
  buyers. People are literally doing
• 9:58
  layaway for burritos on Klarna. Like, I don't think people have
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  the money that they used to have in 2017 than what's that 8-9
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  years ago. And so I think the, the paradigm
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  rather the, you know, the environment right now, it's
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  totally different when it comes to money.
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  I think people are are a little tighter with their money.
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  And of course there's a lot of things going on.
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  People are living paycheck to paycheck.
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  Everyone is kind of not focused on what's going on in finances,
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  though We would say this is the most important thing to be doing
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  right now. And I don't know, I might have
• 10:29
  it somewhere around here. But I saw this poll the other
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  day. Or rather it was like a
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  statistic of what the biggest concerns were for the election
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  and what the biggest concerns are for people.
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  And the national debt was the lowest one on there.
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  So if that isn't kind of a, you know, summary of where we are
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  right now, people are just not thinking about inflation, You're
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  not thinking about the national debt.
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  Yes, Elon Musk has been going out there kind of beating the
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  drum. But I, I think people are just
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  like hurting right now and they're kind of doing the whole,
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  we're going for experiences, not so much building long term
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  wealth right now. We've seen this kind of
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  phenomenon take off on the younger generations Right now.
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  No one seems to be saving money. I know I used to fall into that,
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  that same category where it's just like, you know, get my
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  kicks on Route 66 for forever. And then something clicked and
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  I'm like, OK, I need to, to start saving for my future.
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  Maybe it's because I'm getting older, but I, I, I noticed and
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  we've been noticing on the show that the fanfare around Bitcoin
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  at 100K is a lot quieter than we thought it would be.
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  I think a lot of us had this idea that 100K people would come
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  into Bitcoin. You know, breaking 100K would be
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  that catalyst to kind of show the normies in the retail out
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  there that's like, oh, you need to buy Bitcoin.
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  I think we've all been moving that number up a little bit.
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  We're like, at what number will people care?
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  Is it 150 K? Is it 200 K?
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  Like at what number do we see the FOMO we saw in 2017?
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  It's I guess only time will tell.
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  But you know, kudos to sailors for going on Jordan Peterson's
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  show. And it does seem like Jordan
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  Peterson, I think he's kind of loosely been in the Bitcoin
• 12:09
  space a little bit. I know he talked to Breedlove
• 12:11
  back in the day, but he wasn't fully convinced.
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  He seems to be kind of touching on the topic of Bitcoin a little
• 12:16
  more recently. But if this moment, like if
• 12:20
  there's anyone out there that could orange pill Jordan
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  Peterson, it's of course, Michael Saylor.
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  And he goes on and he's like, yeah, Bitcoin's gonna eat up,
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  you know, the $400 trillion market cap of money.
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  Yeah, that is what's coming. I am seeing this happen in real
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  time. And Jordan Peterson's like, oh,
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  OK, maybe I need to get some. And.
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  And further, he's Canadian. And there was another segment in
• 12:44
  the podcast where he was talking about, look, you don't think
• 12:47
  about getting your money out of the system until you see a
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  crisis. Well, we're seeing a bunch of
• 12:52
  crises around the world right now.
• 12:54
  And as a Canadian, you'd think that the trucker moment would
• 12:57
  have been one of those defining moments.
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  It wasn't. Now they're going full Blore
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  collectivism up in Canada and he's thinking about getting his
• 13:06
  money out of the system. So I think it's one of those
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  things that we always say you adopt Bitcoin out of necessity,
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  and now we're seeing it happen. So we will see more people do
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  the same thing. Absolutely.
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  Like 100% agree with you. By the way, guys smash that like
• 13:21
  button. If you guys are enjoying the
• 13:22
  content, we're at 80 likes. Help us break 150 likes by the
• 13:25
  time the show wraps up. Of course, we're joined here
• 13:29
  with Kent. Kent, I mean, just to frame it,
• 13:31
  just to provide a little bit of context again, it's the one of
• 13:35
  the biggest podcasts, one of the most popular people on Earth
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  right now in terms of media, in terms of mainstream media,
• 13:42
  right? Like legacy media, they legacy
• 13:45
  media was the media of the past. The media of the future is
• 13:49
  podcast. Like that's where the majority
• 13:51
  of the volume is. That's where the majority of the
• 13:53
  viewership is. That's where the youth are.
• 13:57
  Legacy media is, you know, is, is slowly becoming irrelevant.
• 14:02
  And this is new media. So again, you, you want to get
• 14:07
  into the minds, the consciousness of people.
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  You go on these extremely influential podcasts.
• 14:15
  Remember part of the strategy that Naimbu Kelly and Trump used
• 14:19
  in the previous elections was that they went on a lot of these
• 14:22
  podcasts, right? Like the fact that Trump went on
• 14:26
  the Joe Rogan podcast was a really big deal.
• 14:29
  I think that episode got like 50 million views.
• 14:32
  And I know that named Buchilla did something very similar in
• 14:35
  his campaign strategy, right? We saw the the vice president,
• 14:39
  JD Vance go on. What's that?
• 14:41
  What's that podcaster's name again?
• 14:42
  Theo von, Theo Von he's super famous too and like mainstream.
• 14:46
  So again, it's all about kind of propagating the ideas of Bitcoin
• 14:51
  into the mainstream consciousness.
• 14:53
  And you hear like Sailor just going in there with the
• 14:56
  jackhammer basically saying so like, look, and like you see
• 15:00
  Jordan Peterson, you know, doing the thing and he's like, so like
• 15:04
  what you're saying is basically, you know, this is this is like
• 15:09
  better than gold in every single which way God came from.
• 15:13
  Or I'm like kind of like paraphrasing God, that was
• 15:16
  crazy. That was crazy.
• 15:17
  God came from the sky and made gold perfect.
• 15:21
  And that's what Bitcoin is like. Sailor told that to Peterson,
• 15:24
  right? And Peterson's like, wait a
• 15:26
  second. But like, if that's true,
• 15:29
  doesn't that mean that all capital is going to go into
• 15:32
  Bitcoin? And then Sailor just goes,
• 15:35
  that's absolutely what I'm saying and that's exactly why
• 15:38
  I'm here on the podcast in the 1st place, right?
• 15:40
  But he has the proof of work to back up what he's saying.
• 15:45
  I mean, his company. And he told the story.
• 15:48
  This is why this podcast was so influential.
• 15:50
  It was so strong. He told the story for 20 minutes
• 15:54
  about how anything he tried, right, he tried everything for
• 15:59
  20 years to get his company competitive with Microsoft, and
• 16:05
  nothing that he tried worked. And he was getting frustrated.
• 16:11
  He was spending our money on marketing.
• 16:12
  He was spending money on like, you know, on R&D, on employees.
• 16:17
  His employees were working hard enough and no matter what they
• 16:20
  did, they couldn't catch up. So he adopted Bitcoin.
• 16:24
  Very similar reason to why as to why Metaplanet adopted Bitcoin.
• 16:28
  He adopted Bitcoin out of necessity.
• 16:30
  And there was a part of that conversation that I found really
• 16:32
  interesting because Jordan Peterson's like, wait a second,
• 16:35
  dude, like, aren't you already a billionaire?
• 16:36
  Like, like, why do you care so much?
• 16:38
  And then he's like, well, you see Elon and you see Mark
• 16:43
  Zuckerberg and they're like winning left and right.
• 16:47
  And you know, it was frustrating because I was doing everything I
• 16:50
  could to catch up and there there wasn't a way forward,
• 16:54
  right? So this is like a 20 year
• 16:57
  vindication story, you know, of determination, grit and success.
• 17:04
  And he found that in Bitcoin. But the awesome part about
• 17:06
  Bitcoin is, again, it's not like this one hit wonder for Michael
• 17:12
  Saylor. Michael Saylor's going to, you
• 17:13
  know, win and everyone loses. What Max Keiser saying, Michael
• 17:18
  Saylor right now after that Jordan Peterson podcast is the
• 17:24
  Bitcoin employee of the month. He is the Bitcoin employee of
• 17:27
  the month by going on that Peterson podcast and talking
• 17:30
  about Bitcoin and exposing the world to the ideas and ethos of
• 17:34
  Bitcoin. Because I bet you there's a lot
• 17:35
  of normies that are saying, what do you mean God came down from
• 17:39
  heaven and made a better gold. What do you what the F are you
• 17:42
  talking about? And Sailor was super strategic
• 17:45
  when he said that because there's a lot of things that
• 17:47
  Peterson says that regards the theological right.
• 17:51
  So he's using that analogy on purpose.
• 17:53
  Anyways. Wait, wait, wait, wait, Nika,
• 17:55
  sorry, I can't jump in. I just want to make a point to
• 17:58
  what you said about Sailor explicitly naming Elon Musk and
• 18:02
  Mark Zuckerberg. And it's the idea that these
• 18:05
  billionaires, these the richest men in the world, they're highly
• 18:08
  competitive. And if you think that they're
• 18:10
  not going to compete over how big of their Bitcoin stacks are
• 18:13
  coming forward, like you're not thinking correctly about this.
• 18:17
  Soon enough, they'll be competing who has the bigger
• 18:19
  stack, whether they can catch up the Sailor and that that just
• 18:23
  means, you know, less Bitcoin for for everyone else to buy
• 18:26
  because they got all the all the money.
• 18:28
  What's going on here, dude? No one's catching up to Sailor
• 18:32
  at this point. It's, it's done.
• 18:33
  It's done. He has 3% of the supply.
• 18:36
  He is the Bitcoin Treasury company.
• 18:39
  He is the monopoly. He carved that out on himself.
• 18:42
  He, I, he, he capitalized on, on, on being 1st and he has that
• 18:47
  first mover advantage. I don't think anyone will catch
• 18:50
  up Sailor. I think they'll be a lot of
• 18:51
  Sailor copycats. By the way, I think the Sailor
• 18:54
  copycats are the ICO bust of this cycle.
• 18:59
  By the way, I don't think MicroStrategy is going anywhere
• 19:02
  but all this like Bitcoin treasury company copycats.
• 19:05
  Maybe not, obviously not Jack Mahler's 21 and Tether and
• 19:09
  SoftBank and not David Bailey with with Nakamoto, but I'm sure
• 19:13
  there's going to be other ones. I think the I think the other
• 19:17
  Bitcoin treasury companies, what they're going to do is they're
• 19:19
  going to try to cut corners because they're going to try to
• 19:22
  acquire as much Bitcoin as they can.
• 19:25
  So their stocks perform and then went while cutting corners and
• 19:29
  while taking potential loans at unfavorable terms.
• 19:32
  When the inevitable bear market, you know, hits, you might see a
• 19:36
  lot of liquidations and then that starts kind of like this
• 19:38
  cascading effect. I've seen this before.
• 19:40
  I've been in this industry long enough to just be like, dude, I
• 19:43
  think this is the IC OS of this cycle.
• 19:44
  Like for sure. Anyways, we've been rambling and
• 19:47
  talking and we haven't let our dear guest, the man, the myth,
• 19:52
  the legend Kent, CEO of SAS Mining say his thoughts.
• 19:57
  Ken, what are your thoughts bro? Man, I, I get the same vibes on
• 20:02
  those, on those, on the ICO analogy you're drawing here at
• 20:06
  the Bitcoin treasury companies. I just don't know if they're
• 20:08
  going to have, have what it takes to hold through a bear
• 20:11
  cycle. And I know sailors got the
• 20:13
  stones for that, right? So I, I don't worry about
• 20:15
  sailor. But yeah, the, the, the treasury
• 20:17
  strategy companies. And that was a very common theme
• 20:20
  at Bitcoin Vegas last week when I was there.
• 20:23
  Was it the week before? Jeez, where's time?
• 20:26
  Time flies right now. Anyhow, point being, you know,
• 20:30
  Sailor being on biggest podcast or one of the biggest podcasts
• 20:33
  in the world, great audience with Jordan Peterson.
• 20:36
  You know, my favorite part wasn't like Sailor saying, why
• 20:39
  do you think I'm here? I'm here.
• 20:41
  So you realize this. But actually, Jordan Peterson's
• 20:44
  reaction to that, where he like scoffs and crosses his leg and
• 20:48
  like leans over, that was totally the normie reaction to
• 20:54
  it, where, you know, the normies look at us as Bitcoiners on the
• 20:57
  other side of the event horizon haven't taken the time to
• 21:00
  understand Bitcoin as total lunatics.
• 21:03
  I, I mean, I, I genuinely think that they think that the Bitcoin
• 21:07
  culture is literally a cult, which is the root of culture,
• 21:10
  right? And I, I think that we look back
• 21:13
  and say, no, you guys are crazy and you guys are using worthless
• 21:17
  paper to, to buy everything and the government's printing it and
• 21:20
  making it worth less and less. So why don't you get out of that
• 21:24
  system and, and get off the, the rat race.
• 21:26
  But unfortunately, I think Opti's right.
• 21:28
  I think that there's a lot less cash and I think more even more
• 21:32
  sad to me is the fact that the average Joe right now, because
• 21:36
  they're struggling to make ends meet, They're on this hamster
• 21:39
  wheel where their time horizons have just shrunk, where people
• 21:43
  are not looking in the future near as much, you know, hope is
• 21:47
  shrunk to a degree. I know this sounds horrible to
• 21:49
  say, but this is what I think the normies are right now.
• 21:52
  And why they're not adapting Bitcoin is they literally don't
• 21:55
  have the time they're they're going for from paycheck to
• 21:58
  paycheck and just struggling to get by right now.
• 22:00
  And they hear something like Bitcoin, which is completely
• 22:02
  outside the reality. And they're like, I don't have
• 22:04
  time to check that out. So who cares what the price
• 22:07
  does? And oh, by the way, I can't
• 22:09
  afford, you know, a $500.00 bill that unexpectedly comes up.
• 22:14
  Why do I care about Bitcoin when it's priced over 100,000?
• 22:17
  I think the unit bias is hurting us here as well.
• 22:20
  And I can't wait till we start pricing in sats on exchanges
• 22:23
  that try to help with that and try to let people know that,
• 22:26
  hey, you really can't get started with Bitcoin today.
• 22:28
  Start saving in it, even if it's a few bucks a week, but just
• 22:31
  start, you know, building yourself out of this, this
• 22:34
  horrible system that we're in. But I think that this, this,
• 22:38
  this dynamic between the normies and the bitcoiners, I don't
• 22:41
  think that changes. And I think it's institutions
• 22:44
  that drive this cycle. And that sucks because I want to
• 22:47
  see more, more normies get into this and I want to see them pull
• 22:49
  themselves out of the, the hamster wheel dynamic they're in
• 22:54
  right now and, and, and find their way to freedom like the
• 22:57
  rest of us are. You know, it takes work, but
• 22:59
  it's worth it. So anyway, I, I think that there
• 23:02
  is, I'm glad that he's doing that.
• 23:04
  I hope it opens eyes and I hope we'll get more people in.
• 23:06
  But the the people that are making it through that journey,
• 23:10
  that transformation from Fiat to to Bitcoin, it just seems like
• 23:14
  that that that window and that opportunity is getting smaller
• 23:17
  and smaller and fewer and fewer finding it that aren't
• 23:20
  institutional and have like big boy money at this point.
• 23:23
  Yeah, absolutely. I mean, and, and a couple things
• 23:25
  that you said. So first thing that I want to
• 23:27
  focus on is you said, you know that this like Bitcoin is a
• 23:32
  cult, right? Like it's been treated as a cult
• 23:34
  by the normies and all that stuff.
• 23:36
  I mean, this is the back of a $1.00 bill, all right.
• 23:41
  So when they call us a cult, right, I mean, look at that,
• 23:46
  that that's some pretty culty. I don't see the problem like
• 23:55
  that's the cult of Fiat, man, that's weird that that's like an
• 23:58
  eye on top of a can I can I say it's a death cult on YouTube?
• 24:03
  No, no, it's a strange call. It's a strange call.
• 24:07
  That was a bad joke. It was fags.
• 24:10
  It was just a joke. It was just a joke.
• 24:12
  But the point that we're trying to make is that's cultish, man.
• 24:16
  Like, like Fiat is a cult, but it's a cult where you get
• 24:19
  poorer. At least Bitcoin is a, a cult
• 24:23
  of, you know, prosperity, right, profits.
• 24:26
  And I, I think Fiat is a cult of nihilism.
• 24:29
  You know, I think that's the difference.
• 24:31
  And then you said something really interesting.
• 24:33
  What I wanted to explore can't, which was the unit bias is real,
• 24:39
  man. And I think it's starting to
• 24:40
  work against us like big time. Like I think the faster people
• 24:46
  switch to SAT's the better. Because I, I, I've already like
• 24:51
  in terms of my own stacking and, and this and this and that.
• 24:55
  Like I've already, I switched to SAT's years ago because it
• 24:58
  sounds like it's like, yo, dude, I just stacked a million SAT's.
• 25:02
  You know, you're like, yo, that sounds great, right?
• 25:05
  Can you imagine saying, yo, I just stacked .01 Bitcoin like
• 25:09
  that? That kind of sounds a little bit
• 25:11
  lame. And .01 Bitcoin these days it's
• 25:13
  like more than $1000, right? So it's like, OK, you know, I
• 25:17
  stacked a million SAT's that that sounds good.
• 25:19
  It feels good. So yeah, I hope more and more
• 25:22
  exchanges do that switch to give the Bitcoin exchanges credit.
• 25:27
  They have. I know Cash App has made the
• 25:29
  switch. I know Strike has made the
• 25:32
  switch. I know our favorite Bitcoin
• 25:34
  exchange here at simply Bitcoin, the best place to build your
• 25:38
  automatic self custody Bitcoin stack.
• 25:40
  Bitcoin well, has been denominating sats for a while
• 25:44
  now. So there has been, of course,
• 25:47
  Bitcoin exchanges that have made the switch.
• 25:50
  But you know, it's not enough. I think it needs to be like by
• 25:54
  and large, like we haven't won the unit bias war until CNNBC
• 26:00
  stops putting the BTC price and starts putting the SAT price
• 26:03
  instead. You know, what are what are
• 26:05
  SAT's per dollar. I think that would be much more
• 26:08
  effective for retail. My opinion.
• 26:16
  Yeah. Yeah, yeah, I was, I was that, I
• 26:18
  think that was a statement. I think that was a statement,
• 26:20
  not a question. Statement Mic drop I was gonna.
• 26:23
  Be your question. All right, All right.
• 26:25
  I'll take it. I'll take it anyways guys, we
• 26:27
  still have a lot to cover today. We we have an incredible show,
• 26:31
  so much things to line up. Arthur Hayes is made an
• 26:35
  incredible keynote presentation at the Bitcoin conference
• 26:40
  talking about $1,000,000 Bitcoin.
• 26:43
  So we're going to be playing that.
• 26:45
  We're going to be talking about that.
• 26:47
  Also, James Lavish again, continuing to double down.
• 26:51
  Not double down, but continuing to point out the
• 26:54
  unsustainability of the United States fiscal trajectory and the
• 27:00
  reason that that's important to all you guys.
• 27:02
  Like I, I think about the meme with the normie, like you, you
• 27:06
  tell them it's like, dude like the US might go bankrupt in like
• 27:09
  10 years. And he's like at the barbecue
• 27:11
  and he's like, did you see the game last night?
• 27:12
  Like the reason that's important to you guys is again, Lynn Alden
• 27:16
  said this too in her presentation.
• 27:18
  Nothing stops his train is the more Fiat the bases and the more
• 27:25
  uncertainty there is in the Fiat system, the higher hard assets
• 27:31
  go. Bitcoin, gold, real estate,
• 27:35
  Bitcoin is the best one out of all those, right?
• 27:37
  So yes, I mean, it sucks, but you still have time to get on
• 27:42
  the lifeboat and the lifeboat, of course, is Bitcoin.
• 27:45
  Anyways, before we move on, I do want to give a very special
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  Alright everybody, let's get to the new to the numbers.
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• 30:51
  All right everybody, we are back.
• 30:52
  At the time of recording, the Bitcoin price is $108,820 block
• 30:57
  height, 900,644 stats per dollar.
• 31:01
  Love to see it Under 1000 919 cents per dollar market cap 2.16
• 31:09
  trillion Bitcoin verse gold market cap 9.19% percentage
• 31:13
  issued 94.65% decline from all time high -2.8% realized
• 31:20
  monetary inflation .84%. In the grand scheme of things,
• 31:24
  we are just getting the party started.
• 31:27
  Anyways, I have a clip for you guys.
• 31:30
  Let's check it out. It's a clip from James Lavish
• 31:32
  from the Bitcoin Conference and Vegas.
• 31:35
  Let's check it out. The biggest problem the US has
• 31:38
  right is that the we're seeing the whole world wake up to the
• 31:42
  fact that the US dollar cannot be trusted.
• 31:45
  That's the biggest issue that we have.
• 31:47
  And when you when you then look at Bitcoin, Bitcoin is
• 31:52
  trustless. It doesn't need to be trusted.
• 31:54
  And that's, and that's really what will drive forward in the
• 31:58
  innovation here. It eventually over the long run
• 32:01
  is that you have that base, that base asset or currency that you
• 32:05
  can now trust without worrying about it being debased, it being
• 32:09
  seized or it being frozen or locked away from you.
• 32:13
  So that's really that, that's a big deal for the US and and
• 32:16
  embracing that and pushing forward on it quickly is that's
• 32:20
  really important in my opinion. All right, everybody, so, right,
• 32:24
  the world is waking up to the fact that the US dollar, you
• 32:28
  know, this is this is kind of, this is kind of iffy guys.
• 32:32
  Like look at all the money they're printing.
• 32:34
  Like look at this. This is this is just parabolic,
• 32:38
  right? Like why should the US get the
• 32:41
  ability to print all this money? You know, that if the US, if the
• 32:45
  dollar wasn't the world's reserve currency, like we would
• 32:48
  be Argentina in terms of hyperinflation at the moment.
• 32:50
  Like the reason the US has this unique ability is because it is
• 32:53
  the world's reserve currency. But I think countries are
• 32:57
  getting kind of sick of it because that gives the US, you
• 32:59
  know, a huge advantage in terms of just being able to finance
• 33:04
  whatever they want. This is a government that, you
• 33:06
  know, is, is literally has a $2 trillion deficit on average on a
• 33:11
  yearly basis. That's the GDP of most that's
• 33:15
  more than the GDP of most country.
• 33:16
  The GDP of El Salvador is $32 billion. the US debt, the US
• 33:20
  yearly deficit is $2 trillion. Two trillion with AT not with AB
• 33:27
  insanity, right? So that's what James Lavish was
• 33:30
  talking about. Now, why why is this happening?
• 33:32
  Like where is this coming from? And I would say that this isn't
• 33:37
  just the world waking up to this.
• 33:39
  I think it's EU at like people in the US waking up to this.
• 33:44
  And there is something really important that Michael Saylor
• 33:47
  said during his interview with Jordan Peterson.
• 33:53
  He he asked the question, what is money?
• 33:57
  He says, I I'm going down this rabbit hole, what is money?
• 34:00
  And I think that's the question of our time.
• 34:02
  Like I tweeted out the other day when Elon and Trump we're going,
• 34:07
  we're battling it out on on X. I said it.
• 34:10
  I said I'm like, guys, like without a shadow of a doubt, we
• 34:14
  are we are in 1/4 turning like this is 1/4 turning.
• 34:17
  This is insanity, right? The the Trump administration
• 34:20
  yesterday just announced, and mind you, this is a right wing
• 34:23
  administration. They just announced that they're
• 34:25
  going to give $1000 worth of stock to every baby between baby
• 34:28
  born between 2025 and 2029. That is helicopter money, right?
• 34:32
  Like we cannot afford that as a country, right?
• 34:36
  And this is where Elon and, and Trump like basically fought,
• 34:40
  right? Because Elon is right, like the
• 34:43
  deficit is unsustainable. At the same time, Trump is right
• 34:48
  because if this bill doesn't get passed, then the, the
• 34:52
  Republicans winning the election last November was for no reason.
• 34:55
  It was like a, a fear of victory, right?
• 34:58
  So anyways, let's kind of go down some of these things that
• 35:01
  I've ran into because it's just, it's just crazy.
• 35:05
  So and, and I'll obviously I'll, I'll leave the things that, you
• 35:08
  know, I can't say out, but check this, check this tweet out by
• 35:12
  Matt Van Soule. He says, OK, let me get this
• 35:15
  straight. A certain political party out
• 35:17
  there are spending millions of dollars on luxury hotels in some
• 35:22
  countries, not voting on any of the doge cuts, spending 60% of
• 35:26
  their time on vacation, not codifying executive orders.
• 35:30
  Is this the major reform that the American people voted for?
• 35:34
  Michelle Weekley, you guys know her.
• 35:35
  She says Americans voted for MAGA, which is not the same as
• 35:38
  the as the GOP. United States will not be great
• 35:41
  again until all you know, I'm not going to say those parts on
• 35:45
  YouTube. But anyways, I'm going to move
• 35:47
  on to beauty on replying to Matt and he says, and he's adding to
• 35:53
  this kind of list of things that that Matt is saying and he says
• 35:58
  #5 printing money at will, thereby stealing from citizens,
• 36:02
  working to prevent the spontaneous emergence of Sound
• 36:05
  money 7, pretending to serve the people while serving globalist.
• 36:11
  If Matt Elon Tucker, Candice Kirk and all others, rather than
• 36:15
  calling for primaries, instead of instead called for people to
• 36:18
  convert all the all their Federal Reserve dollars to
• 36:22
  Bitcoin and gold, this scandal would be over in six months.
• 36:26
  But they don't Why? And I think this the, and I'm
• 36:29
  going to weave this in, tie this into the Jordan Peterson thing
• 36:34
  and we're weaving it back in. This is why it was so
• 36:37
  consequential because you know, Opti calls them, what do you
• 36:41
  call them? Conservative Inc, Right, A Con
• 36:44
  Inc, Conservative Inc, you know, which again, the whole part of
• 36:49
  the right wing conservatism is, you know, sound money, Austrian
• 36:53
  economics, all that stuff. But again, you know, like we
• 36:58
  can, we can end this right? Like the, the, the
• 37:00
  inefficiencies in government that you see could so easily be
• 37:05
  ended tomorrow if you address the root cause.
• 37:08
  And the root cause is Federal Reserve.
• 37:11
  The root cause is the ability for the government to print
• 37:14
  money for free while everybody else has to work for it.
• 37:18
  That's really the root cause of all these issues and it's
• 37:21
  unsustainable. As James Lavish pointed out, the
• 37:24
  world is waking up to it. But most importantly, and I
• 37:27
  think this is going to be the resolution of this 4th earning,
• 37:31
  the American people are waking up to it as well.
• 37:34
  Coinbase is dropping fire ads and they're Bitcoin focused ads.
• 37:40
  They're basically dropping ads like 30 second ads basically
• 37:43
  saying like, you know, if you were pricing your life in
• 37:47
  Bitcoin, housing has actually got in cheaper.
• 37:51
  Why hasn't that been the case with dollars like that is how we
• 37:56
  move the Overton window. So I'm calling it now I'm making
• 37:59
  a prediction OP, the I think Michael Saylor is going to be on
• 38:02
  the Joe Rogan experience within within the next year and a half
• 38:06
  years. Calling it my prediction, my
• 38:09
  prediction smash the like button.
• 38:11
  If you guys are enjoying the show, I want to give a shout out
• 38:13
  to the live stream. We got 1200 of you watching live
• 38:16
  on rumble. We got 1200 watching live on X.
• 38:20
  We got 500 or so watching live on YouTube.
• 38:23
  If you guys are enjoying the show so far, smash that like
• 38:26
  button. Help us break 200 likes on
• 38:28
  YouTube. All you got to do is smash the
• 38:29
  like button. Anyways Ken, what are your
• 38:31
  thoughts man? Thoughts, ideas, feelings?
• 38:35
  Oh man, this is. I actually think this is the
• 38:39
  value that unifies the Bitcoin community.
• 38:41
  It's a separation of money and state.
• 38:44
  If you look at at since we decided to divorce our money
• 38:48
  from the laws of physics, that with the Nixon shock in 1971,
• 38:52
  you know, WTF happened in 1970. one.com has ridiculous charges
• 38:57
  to just show how our society just came off the rails and has
• 39:01
  become more and more unhinged. And so I actually think that's
• 39:04
  what we see kind of back to what we were talking about earlier is
• 39:07
  the Bitcoin culture, although it seems like a cult to Fiat
• 39:10
  people. It's like we're just kind of re
• 39:12
  anchoring to reality because we've got money that is anchored
• 39:16
  to reality, to the laws of physics through mining, which
• 39:19
  consumes and harnesses electricity.
• 39:21
  We're therefore actually motivated to save and actually
• 39:25
  create a healthier dynamic between ourselves and the
• 39:28
  communities that we live in. And the rest of the reality is,
• 39:32
  is running off the rails with all the Fiat deception and
• 39:36
  wizardry that's out there. Because I do think it's it's
• 39:39
  this illusionary force that that, you know, the Federal
• 39:42
  Reserve has got like this wand and spell they're casting over
• 39:45
  most of the ecosystem. And who knows, maybe that
• 39:47
  Ayahoris imagery has something to do with that Opti.
• 39:50
  But we live in this crazy reality where the biggest brand
• 39:54
  on the planet is the US dollar. And that US Dollar's brand
• 39:58
  equity is being diluted and drained right now.
• 40:01
  By a bunch of politicians that are wanting to earn votes and
• 40:05
  give the citizens things that they want to earn those votes.
• 40:09
  So the whole problem is actually a it's an US problem, right?
• 40:12
  Like we want the freebies that the politicians want to give us.
• 40:16
  There's no physical constraint that the politicians have to
• 40:18
  printing money. So therefore it's easier to to
• 40:21
  print more money than it is to do the hard thing and deal with
• 40:24
  reality where it is. So the entire cycle has gotten
• 40:27
  into this illusory standpoint where hey guys, party's over, we
• 40:31
  got to sober up. This is the time, this is what
• 40:33
  the moment of chaos is that we're living through this 4th
• 40:36
  turning. And you're right, Nico, the, the
• 40:39
  key question here is what is money?
• 40:41
  Because that question is what breaks the illusory spell that
• 40:45
  the Federal Reserve has over us with the dollar.
• 40:47
  Amen. Beautifully said.
• 40:49
  Beautifully said by Kent Opti. What's your quick take?
• 40:53
  I couldn't agree more with what Kent was saying.
• 40:55
  I, I, throughout this whole Bitcoin journey, that's one of
• 40:58
  the things that really struck me the most is, is understanding
• 41:02
  just how Fiat money or the dollar or any, you know, local
• 41:05
  currency is just completely detached from reality.
• 41:08
  And when you base, you know, your life around Bitcoin, you
• 41:12
  are basing your life around reality.
• 41:14
  It's, you know, math and physics.
• 41:15
  You can't fake it. And that fundamentally shifts
• 41:18
  everything that you think about moving forward.
• 41:21
  And I think it is a huge paradigm shift.
• 41:23
  And I mean, for me personally, I, I again, I couldn't agree
• 41:27
  more with what James Lavish was saying because I've been kind of
• 41:31
  not a believer in institution since I became an adult, since I
• 41:34
  was like 18. I've always been kind of anti
• 41:36
  authoritarian. And I was like, how can people
• 41:38
  follow this stuff? And even now in 2025, it still
• 41:42
  blows my mind that people still seem to believe in the
• 41:45
  legitimacy of the system and these institutions.
• 41:48
  But James has a point. I think what we're seeing,
• 41:51
  especially right now, like literally today and this week,
• 41:54
  we're seeing that the trust and institution is falling.
• 41:58
  I, I think at all time lows right now, people on the left
• 42:02
  and the right both don't believe in institutions.
• 42:05
  Whether you're on the maggot crowd, of course, you know,
• 42:07
  there's a lot of talk about who's who's, you know, truthful
• 42:11
  and who's actually saying what. And the institutional trust is
• 42:15
  at an all time low. And then on the left, you're
• 42:18
  seeing all kinds of crazy stuff happen right now where it's the
• 42:21
  same. This is the fundamental problem
• 42:22
  here. People are stopping to trust
• 42:25
  these institutions and various capacities.
• 42:28
  And as we would say, as Kent was saying, as simply Bitcoin
• 42:31
  constantly says, as you guys constantly say in the chat, it
• 42:34
  all stems from the broken money. And that's where the trust has
• 42:38
  been fundamentally abused. And This is why we as Bitcoiners
• 42:42
  started a whole new system. Remember what was in the genesis
• 42:45
  block, you know, bailout, second bailout on the OR second what is
• 42:50
  it Chancellor on the brink of second bailout.
• 42:53
  This is the fundamental ethos of Bitcoin, you know, hard coded
• 42:57
  into its DNA is that these banks and these institutions have
• 43:02
  abused our trust. They've strip mined us of all of
• 43:06
  our resources. It's all funneling up to, you
• 43:08
  know, the cartel members at the top and we just have to deal
• 43:12
  with it. But that was until Bitcoin was
• 43:14
  created. Now there's something different.
• 43:16
  There's a whole new game being played.
• 43:18
  And a lot of people just don't know that that is the case
• 43:21
  currently. And, and This is why we do what
• 43:22
  we do 1,000,000%, man, 1,000,000%.
• 43:26
  The world's waking up. The Overton window is shifting.
• 43:28
  We are winning, you know, and start acting like we're winning
• 43:33
  because we're winning, guys. We still have a hell of a show
• 43:36
  lined up for you guys. Arthur Hayes makes the case for
• 43:40
  $1 million Bitcoin in the very near future.
• 43:45
  We're not talking about 10 years from now.
• 43:48
  We're talking about in the next three to four years.
• 43:51
  Why is that going to happen? We're talking about the big
• 43:54
  print. We're talking about what Lynn
• 43:55
  Alden is saying. Nothing stops this train.
• 43:59
  You can't stop it. You can't stop, you know, the
• 44:02
  government can't stop spending, which means they're going to
• 44:04
  have to print more money. If they print more money, the
• 44:07
  price of hard assets is going to go through the roof.
• 44:11
  And that's the case that Arthur Hayes, Larry Lapard, Lynn Alden,
• 44:16
  brilliant people have all been making.
• 44:19
  So we're going to be doing a deep dive on why $1 million
• 44:23
  Bitcoin could potentially be around the corner sooner than
• 44:27
  people anticipate. According to Arthur Hayes,
• 44:30
  because of the fact that governments are going to have to
• 44:33
  print money, they have no choice.
• 44:36
  To quote Lynn Alden, who got the quote from Breaking Bad.
• 44:40
  Nothing stops this train. We'll be right back in just a
• 44:44
  second. I want to give a shout out to
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• 47:28
  Alright everybody, let's get to today's news.
• 47:31
  Before I get to that, let's start off with Arthur Hayes
• 47:35
  dropping the hot fire. So here Arthur Hayes had a 16
• 47:41
  minute keynote at the Bitcoin conference and he calls it an
• 47:46
  interesting name and he basically makes the case that,
• 47:51
  you know, potentially we can see $1 million Bitcoin by 2028 and
• 47:58
  he breaks down the math. I'll play you guys a clip, we'll
• 48:01
  talk about it, and then I have other source material as well.
• 48:05
  Where do I get this idea that Bitcoin could hit $1,000,000?
• 48:09
  So if we think about QE for poor people, banks lending more into
• 48:12
  the real economy, I estimate that that could be up to $3
• 48:14
  trillion of bank credit that will be created between now and
• 48:18
  2028. The statistic to look for is on
• 48:21
  the weekly Federal Reserve balance sheet of the deposits
• 48:23
  and liabilities. We'll see that happening there.
• 48:26
  If the banks are allowed to buy Treasury bonds, it's estimated
• 48:29
  that $900 billion of foreigner demand could evaporate, and that
• 48:33
  has to be replaced by a commercial banks who now can buy
• 48:35
  these Treasuries. Infinite leverage.
• 48:38
  And finally, let's free Fannie and Freddie and bring $5
• 48:40
  trillion of liquidity to the markets, which gets us close to
• 48:43
  $9 trillion printed or between now and 2028.
• 48:49
  And let's put this into context. During COVID, the COVID stimulus
• 48:53
  programs and all the aid that was given to the financial
• 48:56
  sector within the United States totaled about $4 trillion.
• 48:59
  And from the lows of March of 2020 to 70,000 in 2021, in
• 49:04
  November, we went up about 10 X. So remember, price is set on the
• 49:09
  margin. It matters about the much larger
• 49:12
  marginal price, not the whole stock.
• 49:14
  And so we if we have less Bitcoin on exchanges due to ETF
• 49:17
  demand and we're putting double the amount of money between now
• 49:20
  and 2028, then when we did till COVID, then Bitcoin $1 million
• 49:25
  is just easy. I mean, makes it makes it great
• 49:29
  case, right? Remember what happened during
• 49:32
  the pandemic? We got a hockey stick up, right?
• 49:36
  You know, I live in Miami and I literally saw the price of real
• 49:40
  estate double within six months to a year.
• 49:44
  And was it because the prices of the actual houses doubled in
• 49:50
  value? No, it was just monetary
• 49:52
  debasement, right? That the purchasing power
• 49:56
  remains the same. It's just the money just lost
• 49:59
  its value, right? So another thing I want to share
• 50:03
  as well, just kind of going down the Arthur Hayes rabbit hole.
• 50:07
  He's also making the case of the Bank of Japan pivot to QA may
• 50:12
  fuel Bitcoin rally. So let's get to some of that.
• 50:15
  The Bank of Japan's upcoming monetary policy meeting in June
• 50:19
  may provide the next significant catalyst for global risk assets
• 50:23
  like stocks and cryptocurrencies.
• 50:25
  The BOJ is set to take its next interest rate decision at its
• 50:29
  upcoming monetary policy meeting on June 16th through the 17th.
• 50:33
  The central bank may provide the next significant catalyst for
• 50:36
  Bitcoin and other risk assets if it's pivot to QE, according to
• 50:40
  Arthur Hayes, Co founder of Bitmex and chief investment
• 50:44
  officer of Maelstrom. If the BOJ delays QT and
• 50:47
  restarts and restarts select selected QE at its June meeting,
• 50:52
  risk assets are going to fly. QE refers to central banks
• 50:56
  buying bonds and pumping money into the economy to lower
• 50:59
  interest rates and encourage spending during difficult
• 51:02
  financial conditions. I'll translate this part to just
• 51:05
  printing money. When you hear QE, it's just
• 51:08
  money printer go Burr just to simplify it anyhow, so I'm going
• 51:14
  to also connect this with one of opti's favorite chart.
• 51:16
  By the way, Opti has a paid group.
• 51:18
  I'm just kidding. Which is the correlation between
• 51:23
  the M2 money supply, the M2 global money supply.
• 51:27
  I don't think that one's updated here, put this one.
• 51:30
  Put this one. I got the updated one.
• 51:31
  I got the updated one. I'm going to stop sharing my
• 51:34
  screen. Boom, boom, boom.
• 51:36
  That's updated. Could you zoom in a little bit?
• 51:38
  Yeah, I gotta zoom in here so you can see the update right
• 51:42
  there. That tick.
• 51:44
  Yeah, is US right now. Well, it's going down a little
• 51:47
  bit, but yeah, so, you know, again, it seems, and this is the
• 51:52
  case that Arthur Hayes has been making for a while now, it seems
• 51:55
  like Bitcoin is just tracking the M2 money supply.
• 51:58
  That's really what what? It's the global M2 money supply.
• 52:01
  The global M2 money supply. It seems like that's what it's
• 52:03
  doing. And, you know, to kind of refer
• 52:06
  to what, you know, what Jordan Peterson was saying in the
• 52:11
  beginning of the show, you know, when he was like basically
• 52:14
  shocked. She was like, are you mean like,
• 52:15
  are you trying to make the case that like Bitcoin is this black
• 52:18
  hole and she's going to suck up all the capital?
• 52:20
  And Taylor was like, yeah, absolutely.
• 52:22
  Yes. This is this is what happens.
• 52:24
  They debase the currency. People try to, you know, save
• 52:28
  themselves escape. And one of the best escapes is
• 52:31
  Bitcoin. Dude, that analogy about like
• 52:35
  that feel that theological analogy was like absolutely
• 52:39
  genius, bro. I loved it.
• 52:41
  Dude. It was like, imagine if God came
• 52:43
  down and made perfect gold that was absolutely scarce that you
• 52:46
  couldn't make more of that you can send instantaneously
• 52:50
  anywhere around the world. Yeah, man.
• 52:52
  So that people in the chat are feeling bullish, Miles says 175
• 52:56
  K by September. I'm, let's check out the rumble
• 52:59
  chat and see what's happening over there.
• 53:03
  Yeah, it dropping. They're arguing about something
• 53:07
  completely different. Opti no longer models the
• 53:10
  wallets. I don't have one here.
• 53:12
  Opti Maximus. Opti Maximus.
• 53:15
  We are changing, you know. Oh, they're they're they're
• 53:19
  they're basically, oh, they're going back and forth.
• 53:21
  They're basically calling me a commie.
• 53:22
  I appreciate it, Ali, for saying I'm not a commie.
• 53:25
  Anyways, I'm going to pass it on to Kent.
• 53:27
  Kent, A $1 million Bitcoin by 2028.
• 53:32
  What's your opinion, my friend? There's 2000 people watching
• 53:35
  just on YouTube and X and 1000 people watching on Rumble.
• 53:39
  So absolutely no pressure. Yeah, Yeah.
• 53:42
  No pressure. Thank you for building it there.
• 53:45
  Now the way I look at it is, is less like on a specific date, a
• 53:49
  specific price is just making a simple observation.
• 53:52
  If you look basically every cycle, there's kind of an order
• 53:55
  of magnitude price that that that Bitcoin goes through like 0
• 54:01
  to $100, a hundred to 1000, thousand to 1010 to 100, a
• 54:06
  hundred to 1,000,000. And I think last cycle most of
• 54:08
  us thought we'd hit the 100K mark and didn't.
• 54:11
  So I actually see this where we are right now as actually like
• 54:16
  the beginning of where we should have been at the all time high
• 54:20
  from the last cycle. I'm sorry to be confusing about
• 54:22
  it, but I just don't think we hit our full potential last
• 54:25
  cycle because of all the paper Bitcoin that was that was being
• 54:27
  sold. But the way I look at it, the
• 54:30
  question isn't do we hit a million in 2028, but what does a
• 54:34
  million buy in 20, 28? Because to me, all this debasing
• 54:37
  of money means that our monthly is becoming just funny and
• 54:40
  worthless. And like, do I really care if
• 54:43
  bitcoins at $1,000,000 in 2028? Or do I just care about what my
• 54:46
  Bitcoin can buy me? Because that's the actual thing,
• 54:49
  that's money. And that's probably more likely
• 54:51
  what I'm going to be using at that point anyway.
• 54:53
  Well, especially because I've been living on a Bitcoin
• 54:55
  standard for multiple years at this point.
• 54:57
  So at the end of the day, are we going to hit those numbers?
• 55:00
  Absolutely. Is it going to be 2028?
• 55:02
  I don't know. But it seems about right with
• 55:03
  the magnitude increase that we go through every cycle.
• 55:07
  So it seems right. I think the the crazy one is
• 55:10
  starting to think about like the difference between a million to
• 55:12
  10 million, like that gap is going to be crazy, but a million
• 55:16
  does not seem pie in the sky as we sit here at 100K.
• 55:19
  Yeah, 100%. I mean, it's a, it's basically
• 55:22
  a, a 10X ladies and gentlemen, less than a 10X less than a 10X
• 55:27
  to get to $1 million Bitcoin. I mean that that's, that's
• 55:33
  pretty crazy. We've 10X by the way, in the
• 55:36
  last five years alone. I think it's like 1062%.
• 55:41
  So Mikkel in the chat says Opti, can we adopt Kent as our BTC
• 55:46
  dad? Kent thoughts.
• 55:50
  I don't. Think I have to adopt you guys?
• 55:53
  Yeah, Yeah, I think that's how it works.
• 55:54
  I don't think he wants to adopt us.
• 55:56
  I, I, I I'm, I'm gonna. Just sit back, you guys won't be
• 55:59
  out more. Frequently I don't.
• 56:01
  I don't know about. These guys, I like hanging out
• 56:03
  with them, but oh. Boy.
• 56:05
  These guys, I got 2 little girls already.
• 56:06
  Man, all right, so, so breaking news.
• 56:08
  Hold on. I have to put the ticker.
• 56:10
  I have to put the ticker. Put the ticker.
• 56:12
  Here we go. Kent vows adopt.
• 56:18
  All right, ladies and ladies and gentlemen, it is official Kent,
• 56:22
  CEO of SAS Mining, has agreed to adopt Rustin.
• 56:27
  Breaking news, he's moving down, Ruston is moving down, moving
• 56:32
  into Kent's house. And let's see what happens after
• 56:36
  10, after two days. Oh, yeah, great thing, you mean.
• 56:41
  But yeah, I mean, great. In all seriousness, great, You
• 56:44
  know, extremely bullish from Arthur Hayes.
• 56:47
  But look, look, I, I think it seems unconceivable, right?
• 56:50
  Because it's like $1,000,000 Bitcoin, you know, the market
• 56:52
  cap is so big. And it just seems like, you
• 56:56
  know, kind of in a way, a little bit ridiculous, right?
• 56:59
  Like, what are you talking about?
• 57:00
  That's insanity. But if you take a look at the
• 57:04
  fact that governments don't have a choice but to print, then it
• 57:12
  doesn't sound too crazy anymore. And I think that's the case that
• 57:16
  Arthur Hayes, Larry Leopard and Lynalden are all making, but
• 57:21
  they're just saying it in different ways.
• 57:22
  Oh, and James Lavish as well, right?
• 57:25
  So, I mean, if you look at it from that perspective, I, I
• 57:28
  just, I just don't think, I just don't think $1,000,000 Bitcoin
• 57:31
  is, is too insane. Up to you.
• 57:34
  Let me let me throw in one other comment.
• 57:36
  The thing that I'm looking at mostly is actually when Bitcoin
• 57:41
  touches gold's market cap. Because to me, that's actually
• 57:44
  when Bitcoin has proven itself as a store of value is when it
• 57:48
  eclipses gold. And I think there's an outside
• 57:50
  chance, you know, it's within the Overton window, to use your
• 57:53
  favorite word in the world. It's within the Overton window
• 57:56
  here that we actually touch at this cycle.
• 57:58
  But I can't remember what the price is because gold is going
• 58:01
  up. So it's something like 800K or
• 58:03
  $1,000,000 of Bitcoin we'd have to reach to actually touch gold
• 58:07
  as a story value. But to me, when when Bitcoin
• 58:10
  flips gold's market cap, that's the point where it's game over
• 58:14
  for the adoption of Bitcoin. Like it's no longer a question.
• 58:17
  It's just the de facto store of gold across the store of value
• 58:20
  across the planet. Yeah, I I completely agree.
• 58:23
  That's a good point. Also, Speaking of gold, you gave
• 58:27
  me, you gave me, you reminded me of something, Kent, and that's
• 58:35
  the fact. I think I saw this this morning
• 58:37
  and actually I still haven't dropped the Peter Schiff
• 58:39
  interview. I, I interviewed Peter Schiff at
• 58:41
  the Bitcoin conference. We'll drop that interview in a
• 58:44
  little bit, but essentially, Bitcoin has still not surpassed.
• 58:51
  It should be gold or barely surpassed since 2021.
• 58:55
  So this is 2021 Bitcoin price in gold, not Bitcoin price in
• 58:58
  dollars, right? Bitcoin price in gold since
• 59:01
  2021, and this is 2025, right? So Bitcoin has barely outpaced
• 59:08
  gold, right? And it's been like 4 years.
• 59:11
  So I still think we have a whole lot left of juice in the tank
• 59:16
  for this current cycle, if if cycles are even a thing anymore.
• 59:20
  Anyways, guys, we still have a jam packed show for you guys.
• 59:23
  We're going to be talking about SAS mining during the culture
• 59:27
  segment. SAS mining is Bitcoin mining as
• 59:30
  a service. It's a way for you to acquire
• 59:33
  wildsats. We're going to explain what
• 59:35
  wildsats are, what Bitcoin mining as a service is, and why
• 59:39
  you should be mining Bitcoin. Because believe it or not, and
• 59:43
  Kent's going to do the breakdown.
• 59:44
  It's actually a way to buy Bitcoin cheaper than the spot
• 59:49
  price. So instead of DCA ING how you
• 59:52
  normally do on your favorite on ramp like
• 59:55
  bitcoinwell.com/simply, you can go to SaaS mining and you know,
• 1:00:00
  you could buy yourself a rig and over, you know, two or three
• 1:00:05
  years of that rigs lifetime or whatever.
• 1:00:09
  Instead of that $108,000 price, you're going to, you're going to
• 1:00:12
  be able to acquire Bitcoin at a much cheaper price.
• 1:00:15
  I don't know what that exact price is.
• 1:00:16
  I'm going to ask Kent during the culture segment.
• 1:00:18
  But yeah, Bitcoin mining is a way to DCA.
• 1:00:24
  And acquired sats at a cheaper price.
• 1:00:26
  That's the whole point of mining.
• 1:00:27
  Because if that wasn't the case, no one would be mining, right?
• 1:00:30
  Anyways, we're going to hit that during the culture segment.
• 1:00:33
  We'll be right back in just a second.
• 1:00:35
  We're going to talk to Kent, CEO and Co founder of SAS Mining.
• 1:00:42
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  today. All right, everybody, other than
• 1:02:44
  the breaking news of Kent adopting Ruston, we are going to
• 1:02:48
  be talking about SAS mining today.
• 1:02:52
  Mine your Bitcoin, own your rigs, ditch the exchanges.
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  Top tier Bitcoin mining as a service.
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  Here's the highlight, ladies and gentlemen, acquire BTC at lower
• 1:03:07
  cost than exchanges. That's really one of one of
• 1:03:10
  focus on today, Kent, and then we're going to be talking about
• 1:03:14
  wildsats Kent. Like how's that even possible?
• 1:03:18
  That sounds way too good to be true, man.
• 1:03:20
  What do you mean? You can get, you know, cheaper
• 1:03:23
  Bitcoin than like how does that work?
• 1:03:26
  Can you break it down? Yeah.
• 1:03:28
  In fact, I'm I'm. Actually going to going to see
• 1:03:31
  if I can't pull a screen share here and and show you guys the
• 1:03:34
  math because a lot of people don't believe it.
• 1:03:36
  This is my favorite thing to show people because I think
• 1:03:40
  mining has been overcomplicated for most people by our industry.
• 1:03:44
  And if you look at our most basic cost mining rig right now,
• 1:03:48
  it what's the daily cost to mine a Bitcoin?
• 1:03:50
  So this is no hardware included. This is just making the argument
• 1:03:53
  as simple as it possibly can be, which is how much does it cost
• 1:03:57
  to run on this mining rig each day?
• 1:03:59
  So it's an Ant minor S 19 XP hydro 257 TH which I know is
• 1:04:05
  total jargon if you're outside the industry.
• 1:04:07
  The port part is this 257 Tera hash, so it's going to cost you
• 1:04:11
  $7.40 to run that. You generate a little over
• 1:04:15
  10,000 sats per day. That means your cost to mine
• 1:04:19
  ASAT is about 7 hundredths of a penny.
• 1:04:23
  And if you actually scale that up, that means that it's $73,000
• 1:04:27
  to mine a Bitcoin. So here's the whole point about
• 1:04:30
  mining Bitcoin that I genuinely even being in this industry took
• 1:04:34
  me too long to realize to find the signal.
• 1:04:37
  And that is that Bitcoin mining is the only way to to generate
• 1:04:42
  Bitcoin. Now that sounds stupid simple,
• 1:04:45
  but every single Bitcoin that is in existence got there through
• 1:04:50
  mining. And if you're going to an
• 1:04:53
  exchange, you're actually going for a convenience to buy the
• 1:04:56
  Bitcoin there instead of mining. It is the way that you earn the
• 1:04:59
  Bitcoin. It's the way that the Bitcoin
• 1:05:00
  was distributed according to the protocol at its inception from
• 1:05:04
  Satoshi, right? And there is actually, if you go
• 1:05:08
  back and like Bitcoin's history of how Bitcoin was acquired, it
• 1:05:12
  was all minors in the beginning. You know, you go to the Troy
• 1:05:15
  crosses of the world that around from the 2000 and 1112 era, you
• 1:05:19
  know, they got their Bitcoin from mining it, running it on
• 1:05:22
  their computers or GPU's. And then the exchange based area
• 1:05:25
  of acquisition came about and we decided, ah, mining's too tough,
• 1:05:29
  that's too specialized, I can't do this.
• 1:05:31
  And as a result, we started to go for convenience to the
• 1:05:33
  exchanges to buy it. And now here we are, 15 years
• 1:05:38
  after its inception, and most of us think the right way to
• 1:05:41
  acquire a Bitcoin is going to exchange to acquire it.
• 1:05:43
  But guess what's happened? Because we're all going and
• 1:05:45
  getting our Bitcoin at exchanges now.
• 1:05:47
  There's mining centralization issues and that happens because
• 1:05:51
  the majority of the hash rate on the network right now is
• 1:05:55
  actually there, you know you can see it the Pubco's are are there
• 1:05:59
  to mine Bitcoin, but they have a fiduciary responsibility to
• 1:06:02
  return dollars to their investors.
• 1:06:04
  So the majority of the hash rate on the network right now is
• 1:06:07
  they're actually mining Fiat. And as Bitcoiners, we actually
• 1:06:11
  need to take it back. We have a moral obligation to do
• 1:06:13
  that. And oh, by the way, you can get
• 1:06:15
  your Bitcoin at a lower cost by doing that.
• 1:06:17
  Now, the reason why we show this argument is only the price of
• 1:06:21
  electricity and what it costs to get it.
• 1:06:23
  And we leave the the hardware to the side is because the hardware
• 1:06:25
  at the side of the conversation, it muddles it completely and
• 1:06:28
  people miss the signal and why people mine.
• 1:06:31
  So we set that to the side because getting a mining rig,
• 1:06:35
  depending on where you are in the Bitcoin price cycle, it
• 1:06:38
  changes the equation. And then you get a sell when you
• 1:06:42
  get off the ride. So you buy your hardware, your
• 1:06:44
  mining rig is your ticket to ride to DCA at a lower price.
• 1:06:48
  And then you get to sell that ticket when you get off the
• 1:06:50
  ride. And those two points in time,
• 1:06:53
  you can profit on it, you can lose some money on it, but it
• 1:06:55
  gets things horribly complicated.
• 1:06:56
  So we're saying to the Bitcoin, can you look, just look, cheap
• 1:06:59
  electricity plus high efficiency mining rigs powered by clean
• 1:07:03
  energy equals cheaper Bitcoin. And by the way, you got a moral
• 1:07:07
  obligation as a Bitcoiner to do this so that we can push the
• 1:07:10
  Fiat hashers off and and realign the incentives on the network.
• 1:07:13
  Because here's what happens if you're mining for Fiat instead
• 1:07:17
  of mining for Bitcoin, you're not necessarily aligned with
• 1:07:20
  what the network does. And, and the centralization
• 1:07:24
  issues, they don't 'cause you much concern versus if you're
• 1:07:27
  mining for Bitcoin like we think this should be, which is
• 1:07:31
  actually how Satoshi designed the network.
• 1:07:33
  And it's, by the way, the only invention in the planet that
• 1:07:35
  generates Bitcoin. So you should probably just look
• 1:07:39
  to see that you're getting Bitcoin and forget the, the
• 1:07:42
  dollars. Set that off to the side.
• 1:07:43
  So if you're mining for Bitcoin, now you care about the network.
• 1:07:46
  Now you don't want to allow the centralization issues to happen.
• 1:07:50
  And naturally, we're going to wind up cleansing the network of
• 1:07:53
  these centralization issues that worry so much so many of us
• 1:07:55
  Bitcoiners. Yeah, absolutely.
• 1:07:58
  I mean, dude, it it the, that breakdown was the was
• 1:08:02
  incredible. And the, the, the fact that like
• 1:08:07
  the fact that and you're the fact that you essentially what
• 1:08:10
  you guys have done is you guys have simplified the process
• 1:08:16
  because the way that you were explaining essentially the
• 1:08:18
  ticket on the ticket off, right? You can either do that very
• 1:08:23
  successfully or you can absolutely effing wreck
• 1:08:27
  yourself. And the fact that you guys offer
• 1:08:31
  a plug and play solution like an Uber of Bitcoin mining
• 1:08:35
  basically, I think you know it. It kind of takes away that
• 1:08:40
  complexity, you know, from from the whole process because make
• 1:08:46
  no mistake, the learning curve is extremely high here.
• 1:08:52
  And I think you guys removed that completely.
• 1:08:54
  You guys have facilities in Paraguay, facilities in Norway,
• 1:08:58
  facilities in Wisconsin, which I learned at the Bitcoin
• 1:09:01
  conference. I was like Wisconsin.
• 1:09:02
  That's crazy. And yeah, man, it's it's really
• 1:09:07
  cool. So the way that you guys frame
• 1:09:10
  this, Kent, is you guys love wild SAT.
• 1:09:15
  So when you mine Bitcoin, it's a wild SAT.
• 1:09:19
  Why do you guys call it wild SAT?
• 1:09:23
  Fresh off the network baby, so there's they're not tagged and
• 1:09:27
  bagged like they are when you go to an exchange right you go to
• 1:09:30
  an exchange, you got to enter all your personal information.
• 1:09:33
  You got to jump through those those hurdles.
• 1:09:35
  So now every SAT that you purchase and ship off that
• 1:09:39
  exchange, it's got a surveillance attached to it,
• 1:09:42
  right? And that surveillance creates
• 1:09:44
  friction and, and makes bitcoiners uneasy about actually
• 1:09:48
  using their their sats that they've purchased off an
• 1:09:51
  exchange versus you come to us and you know, we're not a
• 1:09:54
  regulated exchange. We sell hardware and we service
• 1:09:57
  it. If you think about it, at its
• 1:09:58
  core, we're property management service.
• 1:10:00
  I'm going to take possession of something that you own.
• 1:10:03
  That's a high trust relationship.
• 1:10:05
  We value the heck out of it. That's why we have high trust
• 1:10:07
  pilot scores and we're going to deliver a a great service so
• 1:10:12
  that you generate as much Bitcoin as possible.
• 1:10:14
  Now this is actually worth touching about our business
• 1:10:16
  model, right? I don't make money on selling
• 1:10:18
  the hardware. I don't make money on selling
• 1:10:20
  the electricity. That's cost faster for us.
• 1:10:22
  Where we make money is we instruct the mining pool to
• 1:10:25
  split percentage of the block reward when it's paid out by the
• 1:10:29
  mining pool. So suddenly, if you're not
• 1:10:31
  actually generating Bitcoin, I'm not generating revenue either.
• 1:10:34
  So our line, our incentives are perfectly aligned.
• 1:10:38
  I want to maximize your Bitcoin revenue because that's also
• 1:10:41
  going to maximize mine as well. So in this way, we can help
• 1:10:46
  people get Bitcoin in a way that's not only easier through
• 1:10:50
  the software that we've developed to make it highly
• 1:10:52
  accessible. Heck, my mom is actually
• 1:10:54
  fighting with us as well. She finds it easy enough.
• 1:10:56
  We're non custodial. We're not taking custody of your
• 1:11:00
  Bitcoin. You provide us the address.
• 1:11:01
  We have no idea where it's being sent, but it's yours.
• 1:11:04
  And we just need a name and phone number to be able to talk
• 1:11:07
  to you as a customer and say, hey, looks like something came
• 1:11:09
  up on your bill. We need to go make an adjustment
• 1:11:11
  here, that sort of thing. We don't actually have to have
• 1:11:15
  all the information in the KYC hurdles that the exchanges do
• 1:11:18
  because we're property manager. So it's fresh off the network
• 1:11:23
  and that reduces a lot of the friction for how you choose to
• 1:11:26
  use it. Absolutely and I, I just want to
• 1:11:28
  clarify right this is a, a, a completely legal and regulated
• 1:11:33
  way for you to acquire Bitcoin fresh off the network straight
• 1:11:39
  into yourself custodial wallet, right yeah, man.
• 1:11:42
  And I love the way that you guys that you broke it down, Kent,
• 1:11:46
  right? This is you guys, you're a
• 1:11:48
  property manager, man. Like you're basically running
• 1:11:51
  people's, you know, you're running people's hardware.
• 1:11:54
  That's really what it is. And and those people are using
• 1:11:57
  that hardware to mine Bitcoin and that Bitcoin goes into their
• 1:12:01
  self custodial wallets, right? This is how Bitcoin was
• 1:12:03
  designed, by the way. This is this is, you know, how
• 1:12:06
  originally like this is how it was like back in the day.
• 1:12:09
  There weren't any exchanges. The only way, as you said, Kent,
• 1:12:13
  was to, you know, spin up ACPU, then a GPU and then an
• 1:12:19
  application specific integrated circuit, right?
• 1:12:22
  But I think I said that correctly, right?
• 1:12:23
  And ASIC. So, yeah, I mean, you know, and,
• 1:12:27
  and, and you know, there's still not all the Bitcoin has been
• 1:12:30
  mined yet. And you know, I, I, one of the
• 1:12:33
  things, one of the regrets I've had in my career is I actually
• 1:12:40
  got into the industry through Bitcoin mining and it was 26, it
• 1:12:43
  was a 2016 era, right? And I, I, 2018 was really rough.
• 1:12:49
  And, you know, I think we all had it rough in 2018.
• 1:12:53
  If you're a Bitcoin miner, big hangover from 20K to $3500.
• 1:12:59
  And yeah, man, I mean, I, I pivoted.
• 1:13:02
  I pivoted. Well, it turned out great.
• 1:13:04
  Love Bitcoin media, but you know, that would have been cool.
• 1:13:06
  Bitcoin miner since 2016, right? So I think like the lesson
• 1:13:11
  there, right, is with Bitcoin mining, the key is just to stick
• 1:13:16
  it out. If you stick out, if you
• 1:13:18
  survive, you're gonna, your your dollar cost average is gonna be
• 1:13:23
  lower than if you just bought it on a Bitcoin exchange.
• 1:13:26
  And I think that's the point that Kent's trying to make.
• 1:13:28
  That's something that I've experienced myself.
• 1:13:31
  And yeah, I think I think we have some questions here, but
• 1:13:36
  Nathan's going ham in the chat. So first question is how do we
• 1:13:42
  track what's being mined, Kent? Oh, that's, that's where
• 1:13:46
  software comes in. So we've got a handy dandy
• 1:13:48
  dashboard that shows you how many SAT's you mind, how many
• 1:13:53
  are waiting at the pool, how many that paid out.
• 1:13:55
  You can track all the transactions on the blockchain
• 1:13:58
  itself. We provide, you know, direct
• 1:14:00
  links to all of that. We provide downloadable CSV
• 1:14:04
  files for hey, what was the dollar value of that for tax
• 1:14:08
  reporting purposes at the point of it being paid out.
• 1:14:10
  So it's all right there. We have billing summary with,
• 1:14:14
  you know, classic ability of taking credit cards on any sort
• 1:14:18
  of web 2 software as a service platform, credit cards,
• 1:14:21
  lightning, Bitcoin, USDT, you know, we, we service clients
• 1:14:26
  from around the world and it's really wild because you know,
• 1:14:29
  as, as Europe is ramping up the CBDC efforts, I, I think they're
• 1:14:33
  set to go live in, in October. Oddly enough, we're starting to
• 1:14:37
  see more European clients show up by mining rigs from us
• 1:14:40
  because it doesn't matter where in the world you're located.
• 1:14:43
  All you need is a Bitcoin address and it means to pay for
• 1:14:46
  your electricity and mining rig and your Bitcoin go to where you
• 1:14:49
  are. So it's, it's it's pretty cool
• 1:14:52
  actually to see who is signing up all over the planet.
• 1:14:55
  All right, we got a couple questions.
• 1:14:57
  We got a fan in the chat. JC, 18 says he has 33 rigs with
• 1:15:03
  SaaS. Great service, fast up same day
• 1:15:08
  within a few hours. Let's go a live testimonial.
• 1:15:12
  And then we got Elaine asking how different will the payouts
• 1:15:16
  be with the next having? So, yeah, we've got a, we still
• 1:15:22
  have a few mining rigs that are what we call live hash.
• 1:15:25
  So they're mining rigs ready to go.
• 1:15:27
  You swipe your credit card, we receive payment within a couple
• 1:15:30
  hours, we say 48 hours, but most clients have been receiving
• 1:15:33
  within a couple, 8, a couple hours.
• 1:15:35
  They're they're hashing to their own accounts and start to
• 1:15:38
  receive Bitcoin stream to them. But as far as what will happen
• 1:15:43
  at the having, well, if, when rewards are going to go in half,
• 1:15:46
  you know, the value of the Bitcoin at that point in time
• 1:15:50
  should be dramatically higher than where it is today.
• 1:15:52
  And that's, that's the same dynamic that's been on the
• 1:15:54
  network since the very beginning.
• 1:15:56
  And it's the same dynamic that causes a lot of people to say,
• 1:15:59
  hey, I'm, I'm worried I'm not going to get into mining.
• 1:16:02
  And so there is an element of faith that you have to have with
• 1:16:05
  mining where you just have to assume that adoption is going to
• 1:16:08
  go up faster than the rewards drop to to see the same, the
• 1:16:14
  same, you know, sort of dollar based value of the Bitcoin
• 1:16:17
  continue. Absolutely beautifully,
• 1:16:19
  beautifully said anyways, I do want to give a oh another
• 1:16:24
  question. We got a lot of questions today.
• 1:16:26
  Kent, BTC believer average, how long till break even?
• 1:16:30
  2436 months more. Well, OK, so I'm going to
• 1:16:35
  preface this guys, it all depends.
• 1:16:37
  Because if we RIP from, you know, 100K to 200K, you're going
• 1:16:43
  to break even very quickly, right?
• 1:16:45
  So it's very price dependent. Well, let me, let me actually,
• 1:16:50
  I, I want to challenge this question for a minute.
• 1:16:52
  If you're looking to break even, aren't you evaluating this as a
• 1:16:56
  way to acquire more dollars by definition, because you're
• 1:16:59
  looking at how many dollars I put out and how many dollars I
• 1:17:02
  get back. And, and this is this is the
• 1:17:04
  point where I'm not picking on you, BTC believer.
• 1:17:06
  There is an answer to it if you want to go look into it, But to
• 1:17:09
  me, it actually misses the point as somebody in the Bitcoin
• 1:17:12
  community, which is ultimately like, hey, this is generating
• 1:17:14
  Bitcoin. It, it, what's the value or what
• 1:17:17
  did it cost me to get those Bitcoin as compared to if I
• 1:17:20
  would have gone and bought it? Because this again, is the only
• 1:17:23
  investment in the world that generates bitcoins when you put
• 1:17:26
  your dollars into it. So why would we look at how long
• 1:17:30
  it takes to get dollars out when we care about the Bitcoin that
• 1:17:32
  we receive? Yeah, 100%.
• 1:17:36
  I mean, that's a great, that's a great perspective.
• 1:17:39
  And again, I wish, I wish I would have stuck it out 2018
• 1:17:42
  because I was looking at it from the dollar perspective of I was
• 1:17:46
  looking at it from the BTC perspective.
• 1:17:49
  You know, again, 2021 come around two or three years of
• 1:17:53
  pain. You think huddling is painful,
• 1:17:57
  mining and a bear market is extremely painful.
• 1:17:59
  But if you power through, you know it, it pays off.
• 1:18:02
  It pays off wonderfully. That's what I'll say anyways.
• 1:18:07
  Go ahead, Ken. Let.
• 1:18:08
  Me, let me jump in and add one thing because I think there's
• 1:18:10
  there's something you actually have to decide if you're going
• 1:18:12
  to mine and, and you have to decide the answer to the
• 1:18:15
  question, what is money? And if that answer is dollars,
• 1:18:19
  well, great, then you're going to look at how to evaluate this
• 1:18:21
  from an ROI based perspective. But if your answer is is
• 1:18:24
  Bitcoin, which I think 99.9% of us on this that are watching or
• 1:18:29
  or participating look at Bitcoin as money, then you only looking
• 1:18:33
  at what does it take for me to acquire that Bitcoin?
• 1:18:35
  And I think that we have not as a mining community made that
• 1:18:39
  really clear. And so we've come up with this
• 1:18:42
  jumbled analysis that a lot of people are doing when it all
• 1:18:45
  just gets a lot more clear. Cool, you want dollars, It's
• 1:18:47
  great. Look at it through a dollar
• 1:18:48
  space lens. Cool, you want Bitcoin?
• 1:18:50
  Look at it through a Bitcoin base lens.
• 1:18:52
  But for the love of Pete, don't try to mix those two because
• 1:18:54
  you're just going to confuse the heck out of yourself.
• 1:18:57
  Yeah, absolutely. All right, guys, we're at the
• 1:19:00
  top of the hour. I do want to thank our special
• 1:19:03
  guests today, Kent, the CEO and Co founder of SAS Mining,
• 1:19:09
  Bitcoin mining as a service. We recommend them here
• 1:19:12
  personally here at Simply Bitcoin.
• 1:19:15
  Also check out the beyond Bitcoin show with Ocean's Kent
• 1:19:20
  made an appearance on the latest episode and breaking news Kent
• 1:19:25
  is adopting Rustin. It is happening.
• 1:19:28
  We got a SAS mining representative in the chat
• 1:19:31
  confirming it and that should make some epic epic content.
• 1:19:36
  Anyways, guys, if you enjoyed the show, you know what to do
• 1:19:39
  smash the like button. Consider subscribing if you feel
• 1:19:41
  like we provided you value and we'll see you guys tomorrow for
• 1:19:45
  a brand new episode of simply Bitcoin Live, go check out SAS
• 1:19:49
  mining.com today. Use promo code Simply Bitcoin
• 1:19:54
  and you'll get yourself a discount.
• 1:19:56
  See you later, everybody. Today's episode was brought to
• 1:19:59
  you by bitcoinwell.com, a Bitcoin only platform on a
• 1:20:03
  mission to enable financial independence.