Latest / Simply Bitcoin / FED INSIDER Caught on HIDDEN Camera! (Fed Sabotages Bitcoin Bull Run?) | EP 1228

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FED INSIDER Caught on HIDDEN Camera! (Fed Sabotages Bitcoin Bull Run?) | EP 1228 · Simply Bitcoin

• 0:00
  A bombshell video has been circulating on Twitter over the
• 0:04
  past 24 hours where a Federal Reserve insider was caught
• 0:08
  saying the unthinkable, confirming what we've been
• 0:11
  saying on this show for the last couple of weeks.
• 0:14
  What if we told you that the Federal Reserve was at actively
• 0:17
  sabotaging everything Donald Trump was doing, including his
• 0:21
  plan to ignite a Bitcoin bull run?
• 0:24
  Well, let's play the clip that's blowing up on Twitter that's
• 0:26
  exposing the Federal Reserve's true intentions.
• 0:31
  Here we go, Trump. It's a crazy person.
• 0:35
  It's very clear. I mean, he's a dumb guy.
• 0:37
  Like CK, Trump and. Like is the feeling.
• 0:39
  Neutral, of course. OK, seems to be remembered in.
• 0:42
  History as like. As somebody who held the line,
• 0:46
  like, like Trump and like somebody who like, helped the
• 0:49
  economy and Trump was president, he wanted to stimulate the
• 0:51
  economy, right? But he wouldn't do it.
• 0:54
  And he started raising interest rates doing the opposite that
• 0:57
  Trump wanted. So I mean so the feeling.
• 0:59
  Is this that like we don't want Trump to be there?
• 1:05
  You see it guys. So this came out from James
• 1:08
  O'Keefe. If you guys aren't familiar with
• 1:09
  his new media company, OMG is he does these like, you know,
• 1:14
  Tinder dates where he, you know, gets people to go on camera and
• 1:18
  they're usually people that are part of the government,
• 1:21
  different areas exposing what's going on in Washington, DC.
• 1:25
  And as you can hear, it sounds like what we've been saying the
• 1:28
  last couple of weeks. Again, just to recap, we've been
• 1:31
  all kind of speculating what's going on in Washington.
• 1:34
  What is Trump doing with the trade war?
• 1:36
  You know, what are the true intentions here?
• 1:38
  Is this all a coordinated effort?
• 1:40
  Is there a war between the Trump administration and the Federal
• 1:43
  Reserve? We've been hearing a lot of
• 1:44
  takes coming out of Trump on, you know, and the Fed and the
• 1:48
  too late Jerome Powell, etcetera, etcetera.
• 1:50
  And it seems like we have a smoking gun.
• 1:52
  Anyways, I'm here with my boy Chris Alamo, everyone's favorite
• 1:56
  neighborly, friendly bitcoiner that also Co hosts here.
• 2:00
  And of course, one of my favorite Zoomers out there, we
• 2:03
  have Mitchell Hoddle, head of blockware intelligence at
• 2:06
  Blockware Solutions. So we got a jam packed show for
• 2:09
  you guys. I, I really want to dive into
• 2:11
  this because there's, there's some interesting stuff here.
• 2:14
  And of course, this will relate to Bitcoin when I wrap this up.
• 2:16
  Now, Nico's not here today because he's going to El
• 2:19
  Salvador. He's going to do an awesome
• 2:20
  interview. So I'm going to get some of
• 2:22
  Nico's thoughts here. We've been covering this on the
• 2:24
  show the last couple of weeks. We've been all speculating, is
• 2:27
  this what's going on? Yes, we've been doing some mind
• 2:29
  reading, but it seems like there is a battle right now between
• 2:33
  the Trump administration and the Federal Reserve.
• 2:35
  And here's Nico's tweets. You guys have been, you've
• 2:38
  probably seen this on the show a couple of Times Now, but just to
• 2:41
  recap kind of where we've been standing in our perspective on
• 2:44
  this, Trump or Nico goes, Trump blocked the Fed from regulating
• 2:47
  the Bitcoin industry. the Fed wants the CBDC to ensure its
• 2:50
  survival. So do the Democrats. the Fed
• 2:52
  also helped come out Kamala's campaign.
• 2:54
  At this point, is it really a stretch to said to say the Fed
• 2:57
  is purposely working against Trump's agenda?
• 3:00
  And look at this, it's April 7th, about a week ago when Nico
• 3:04
  posted this. And now we have have this clip
• 3:05
  circulating that seems to be confirming this story exactly.
• 3:10
  And then of course, we've seen the Donald Trump tweets.
• 3:13
  I'm sure you guys saw this one, but here's Donald Trump, you
• 3:15
  know, quote, preemptive cuts and interest rates are being called
• 3:18
  for by many with energy costs way down, food prices, including
• 3:21
  Biden's egg disaster substantially lower and most
• 3:24
  other things trending down. There is virtually no inflation
• 3:28
  with these costs trending so nicely downward, just what I
• 3:31
  predicted they would do. There can almost be no inflation
• 3:34
  but there can be a slow of the economy unless Mr. Too late AKA
• 3:38
  Jerome Powell, a major loser, lowers interest rates now.
• 3:41
  Europe has already lowered 7 times.
• 3:43
  Powell has always been too late except when it came to the
• 3:46
  election period when he lowered in order to help sleepy Joe
• 3:49
  Biden later Kamala to get elected.
• 3:51
  How did that work out? So of course you know Trump,
• 3:54
  Trump doing what Trump does and Nika does.
• 3:56
  The Federal Reserve is politically compromised.
• 3:58
  It's time to end it. And and of course, going back to
• 4:01
  this JM O'keefe's tweet, you can see here what he posted on, on
• 4:04
  the timeline. He says we caught a Federal
• 4:06
  Reserve principal economist on a hidden camera describing Jerome
• 4:10
  Powell's, quote, legacy as somebody who helped, who held
• 4:13
  the line against Trump. And he revealed how the Fed
• 4:15
  under Powell began focusing on wealth inequality and climate
• 4:18
  change. Looks like the agency may not
• 4:20
  only set interest rates, but also social policy.
• 4:23
  So where you know, the, the we're confirming a lot of things
• 4:26
  we've been saying here on simply Bitcoin.
• 4:29
  What we always say it's it's pretty easy when you're a bit
• 4:32
  corner, you can kind of see where the future is going.
• 4:34
  But we got this tweet this morning from Walter Bloomberg
• 4:38
  and I do have the follow up article, but I like how he
• 4:40
  framed this on Twitter a little better because we're seeing this
• 4:44
  play out in the bond markets, in the gold markets, in the stock
• 4:47
  market, and of course this morning in the Bitcoin price and
• 4:50
  yesterday. So Walter Bloomberg tweets Fed
• 4:52
  independence concerns could lift Bitcoin to record high.
• 4:56
  And again, I have the actual article here and you can see
• 4:59
  this on investing.com. It goes Bitcoin price.
• 5:01
  Standard Chartered maintains its 200K by 2025 forecast.
• 5:04
  So I'm gonna read it here though this is the bulk of that
• 5:07
  article. And it goes Bitcoin could rise
• 5:09
  toward an all time high of concerns over the Federal
• 5:11
  Reserve's independence persist. Standard Chartered Jeff Kendrick
• 5:14
  says in a note the cryptocurrency is a hedge
• 5:16
  against risk to the existing financial system due to its
• 5:19
  decentralized Ledger. He says this is currently
• 5:22
  playing out via risk to U.S. Treasury after President Trump
• 5:25
  suggested he could remove fed Chair Jerome Powell over his
• 5:28
  desire for interest rates cuts. This yield premium investors are
• 5:32
  demanding to buy long dated treasuries versus short dated
• 5:35
  ones has risen sharply and this is benefiting Bitcoin.
• 5:38
  Kendrick says Bitcoin rise to a six week high of 90,459.
• 5:42
  I think we, we, he hit around 91, almost 92 this morning.
• 5:46
  And Standard Chartered expects Bitcoin to rise to A200K price
• 5:50
  by the end of 2024. Now, this is something we've
• 5:56
  been saying for a long time on the show.
• 5:59
  We've been speculating, we've obviously been playing the clips
• 6:01
  for you guys as Bitcoiners. I think it's very interesting
• 6:05
  that you know that now we're all macro experts and, and we really
• 6:07
  don't care what the Fed does. We, we, we criticize the Fed in
• 6:11
  just just at large because they're always going to print
• 6:14
  more money. But we are seeing there is sort
• 6:16
  of a power struggle going on in Washington.
• 6:19
  Now, whether you believe that Trump administration is fighting
• 6:22
  Jerome Powell or if this is all political theater to essentially
• 6:26
  weaken the dollar, the point remains the same.
• 6:28
  We are seeing a transition here and from what I kind of see, we
• 6:32
  are seeing this trend towards a monetary reset.
• 6:36
  Now for a lot of people out there, I think the question
• 6:38
  remains like what is the solution?
• 6:40
  What is the end goal? Where should I put my my wealth?
• 6:43
  Where is the safest place for me to park my wealth?
• 6:46
  A lot of people would say treasuries.
• 6:48
  As Chris and I talked about last week, treasuries are seemingly
• 6:51
  not the good move right now. And you're seeing if you guys
• 6:54
  are watching the gold price, maybe you're just a bitcoiner
• 6:56
  and you don't watch the gold price, but gold's at all time
• 6:58
  high. It hit like 3400 this morning.
• 7:01
  It's ripping, which is essentially telling me that the
• 7:03
  market is starting to move away from bonds and go into gold.
• 7:08
  Obviously as a hard money advocate, as someone that's a
• 7:10
  Bitcoiner, as someone that understands a little bit of
• 7:13
  monetary history, you understand that in times of uncertainty,
• 7:16
  people usually go to the most certain assets.
• 7:18
  And of course gold has historically been that.
• 7:21
  So we are seeing a lot of crazy stuff going on in the market.
• 7:24
  And as a Bitcoiner, yes, it's my bias, but we believe the best
• 7:28
  place for people to park their money is Bitcoin.
• 7:30
  And again, another historical precedent we have is right when
• 7:34
  gold starts pumping, Bitcoin will lag it a couple of times
• 7:37
  and Bitcoin will outperform gold.
• 7:39
  So we're seeing that the investors are moving into gold
• 7:42
  and it's only a matter of time and still until they move into
• 7:44
  Bitcoin. And we're getting this
• 7:46
  confirmation this morning. Yesterday we reclaimed the 89 K,
• 7:49
  Today we claim 90K. It's moving up into 91 K.
• 7:53
  So it looks like the signal around what is going on, the
• 7:56
  uncertainty is starting to find its way into Bitcoin.
• 7:59
  And we've been talking about this.
• 8:01
  Yesterday we talked about it. We were, we were a little
• 8:03
  bearish on yesterday's show wondering what's going on.
• 8:05
  No one knows what's going on in the Bitcoin price right now.
• 8:08
  Everyone's wondering what is happening, when's Bitcoin going
• 8:10
  to start ripping. But it seems like we did finally
• 8:14
  get some kind of tipping point here and capital is flowing into
• 8:18
  Bitcoin. So if we can reclaim this 90K
• 8:20
  area and we close above 90K today, I think this is some good
• 8:23
  confirmation that the time of Bitcoin ripping is is upon us.
• 8:27
  And it does that mean it's going to RIP for the end of the year?
• 8:30
  I have no idea and I do like this prediction. 200K seems very
• 8:35
  reasonable by the end of the year.
• 8:37
  So actually I was going to go to Chris so we can talk bonds, but
• 8:40
  I'm going to go to Mitchell because you did mention
• 8:41
  something before the show and I think this might be a good
• 8:44
  place. I said maybe you can talk about
• 8:45
  later, but I think it's a good place to really now it you've
• 8:48
  been on Twitter talking about the end of the four year cycle.
• 8:52
  Now is this playing into all of the concerns we're seeing in the
• 8:56
  macro market? So what's your take on this
• 8:58
  story? What what are you thinking?
• 8:59
  And also talk about do you think that we are seeing a war between
• 9:04
  the Fed and the Trump administration?
• 9:07
  Yeah, thanks for thanks for having me on Opti and Chris, I'm
• 9:09
  excited to talk. And I actually think my thesis
• 9:13
  about the four year cycle being over in the current macro
• 9:16
  environment are somewhat unrelated.
• 9:18
  And I'll, I'll hit on the first point.
• 9:20
  The in 2017 Bitcoin went from about 1000 in January to 20,000
• 9:24
  by December, but it had a really low market cap at the time.
• 9:27
  And in 2021, we got another massive bull market, but that
• 9:31
  was on the back of the money supply growing by 50% in the
• 9:34
  year. And so we don't have either of
• 9:36
  those dynamics at play right now.
• 9:38
  I'm still hyper bullish on Bitcoin, but I don't think we
• 9:41
  get this massive blow off top anymore.
• 9:43
  But on the other side of that coin, I don't think we get these
• 9:46
  massive 75% drops during the bear market either the way I
• 9:50
  view Bitcoin adoption or the Bitcoin price.
• 9:53
  Rather right now it's a, it's a function of Fiat liquidity and
• 9:57
  adoption, right? And Fiat liquidity, as we
• 9:59
  probably all know, it's designed to go up forever.
• 10:02
  They have all this debt in the system.
• 10:03
  They have to continuously increase the money supply.
• 10:05
  And then in terms of adoption, we're seeing that I, I view
• 10:09
  adoption as kind of a road, right?
• 10:12
  And the road is widening. So in 2013, you know, you
• 10:15
  adoption was very limited because there's only like 1
• 10:18
  exchange. There was Mount Cox in 2017
• 10:21
  adoption increase because you got more, more exchanges, right?
• 10:24
  And and so these are paths to draw liquidity from the Fiat
• 10:27
  system into the Bitcoin world. And 2024 marked a huge turning
• 10:32
  point when we got the Bitcoin ETFs because it was a straight
• 10:35
  line for assets in retirement, traditional retirement accounts
• 10:38
  to get exposure to Bitcoin. And I think as we get more
• 10:42
  products like that, for example, the MicroStrategy convertible
• 10:45
  bonds or MSTY kind of a MicroStrategy Bitcoin type play,
• 10:51
  we're going to see a lot of different products with
• 10:53
  different degrees of Bitcoin exposure, but also different
• 10:56
  degrees of of volatility and upside.
• 10:58
  And so that those products are going to be what allows
• 11:01
  traditional capital to get into the market.
• 11:04
  And as more traditional capital gets into the market, we're
• 11:06
  going to get fewer blow off tops because they're quicker to sell,
• 11:09
  but we're also going to see less draw downs because they're
• 11:11
  quicker to buy in. And we're already starting to
• 11:14
  see this play out. If you look at the Bitcoin price
• 11:17
  since 2024, we've had steady growth, right?
• 11:20
  We're up about 50 to 100% on a year over year basis.
• 11:23
  But our draw downs have been muted.
• 11:25
  Bitcoin peaked at 110, dropped to 78.
• 11:27
  That's about a 30% drawdown. I like to say when Bitcoin drops
• 11:31
  more than 2530%, you're going to see Larry think and the boys
• 11:35
  back up the truck and unload and buy as much Bitcoin as they can.
• 11:38
  So I'll pause right there and see if you guys have any any
• 11:41
  thoughts or any rebuttals. Now I, I think, I think it's
• 11:44
  something that all of us bitcoiners are, are starting to
• 11:47
  realize as well. It's like as much as we all, at
• 11:50
  least historically looking at the data, believe in the four
• 11:53
  year cycle, it with new data is kind of showing us that Bitcoin
• 11:56
  does respond to liquidity cycles.
• 11:59
  And I think we're entering a new round of, you know, liquidity
• 12:03
  injection into the market and seemingly this is going to end
• 12:06
  up into Bitcoin. I know a lot of us Bitcoiners
• 12:09
  have been seeing this M2 money supply or global liquidity, you
• 12:12
  know, expansion and it's seemingly going parabolic,
• 12:15
  though there's been some contention about like the the
• 12:18
  correctness in the correlation of the data because it's not
• 12:21
  updated as quickly. But if that does play out, it
• 12:24
  has been following it perfectly. I think it's safe to say that
• 12:27
  Bitcoin is going to start to explode based on all of the
• 12:30
  global global liquidity and we all know like the Fed is going
• 12:34
  to eventually turn on the money money printer.
• 12:36
  So I, I do like this theory of Bitcoin.
• 12:39
  The four year cycle might be dead.
• 12:41
  I'm still kind of a four year cycle maxi until proven
• 12:44
  otherwise. I'm kind of like, I think the
• 12:46
  four year cycle is working out, but with new data is kind of
• 12:48
  showing me we might be entering this this new paradigm here and
• 12:52
  it's going to be caused because of global liquidity and not so
• 12:54
  much just, you know, 210,000 blocks.
• 12:57
  So it is an interesting theory that I think a lot of us
• 12:59
  Bitcoiners are playing with so. And I'll caveat it too, I, I, I
• 13:03
  think we, the price ends up higher this year.
• 13:05
  We started year around 90K. I'm still convinced we're going
• 13:08
  to end up somewhere between 1:50 and 2:50 by the end of the year.
• 13:12
  And for one of the reasons you mentioned is, is this global
• 13:15
  liquidity is starting to rise. And part of that is the dollar's
• 13:17
  getting weakened, which I think is by design.
• 13:20
  And, and this kind of brings us back to the, the Trump versus
• 13:22
  Powell argument, right? I think it's an interesting
• 13:25
  conversation. I think clearly they're butting
• 13:27
  heads. I think Powell cares more about
• 13:29
  his personal legacy, getting rid of those, the money printer
• 13:32
  gober memes, because that's all he's going to be known for
• 13:35
  unless, unless something changes, right?
• 13:38
  And so if he cuts rates, like that's going to be even more of
• 13:40
  the case. So I think he's kind of holding
• 13:41
  steady for that reason. But more importantly, I don't
• 13:44
  think what Powell does matters as much as what the Treasury
• 13:47
  does. And long term interest rates and
• 13:50
  this whole tariff back and forth, like nobody knows exactly
• 13:53
  what's going to happen. A huge amount of uncertainty in
• 13:57
  the market. I think that move by Trump and
• 13:59
  Scott Besson was they were hoping to drive some demand for
• 14:02
  long term treasuries, but instead what happened is all the
• 14:05
  demand went to gold and we're starting to see some of that
• 14:07
  trickle into Bitcoin. So I think it's a really
• 14:09
  telltale sign of where the the geopolitical macroeconomic state
• 14:14
  is at considering this moment of uncertainty.
• 14:17
  It's not people aren't buying treasuries, which is a quote of
• 14:19
  quote, risk free rate. Instead they're buying hard
• 14:21
  money that's neutral and not associated with U.S. government.
• 14:24
  Yeah, totally, Mitchell. And I think that's the signal
• 14:26
  here that Bitcoiners, we've been talking about this for a long
• 14:29
  time, that yeah, like, of course, historically the status
• 14:33
  quo is like, if you want a safe bet, you go into treasuries.
• 14:36
  Now we're seeing people basically skip the treasuries.
• 14:38
  They're like, hey, look, I don't know if it's Armageddon here or
• 14:42
  the apocalypse or whatever, but they're like, I'm going straight
• 14:44
  to gold. And, and we're seeing this
• 14:46
  respond in the in the gold price.
• 14:48
  It's going nuclear right now. And who knows how much longer it
• 14:51
  could go up. Is there going to be a
• 14:52
  correction blow off top, etcetera, or this is the blow
• 14:55
  off top? But it looks like people are
• 14:57
  skipping treasuries and going into gold and it's really
• 15:00
  putting into, you know, into frame.
• 15:03
  Like was what Trump did with the trade wars planned?
• 15:06
  Or is their response to cut off the trade, the tariffs, a
• 15:10
  response to the bond markets blowing up and people skipping
• 15:12
  it and going into gold. It all remains the same and
• 15:15
  points the same thing to us bitcoiners.
• 15:17
  Like there's mass uncertainty in the markets and when you find
• 15:20
  uncertainty in the markets, you want to go to the hardest asset.
• 15:23
  And This is why we're bitcoiners.
• 15:24
  Once you understand the 21 million hard cap, censorship
• 15:27
  resistant permission list, etcetera, etcetera, etcetera.
• 15:29
  We talk about it all the time. You realize there it's it's a
• 15:32
  one way St. Once you understand Bitcoin,
• 15:33
  you're like, I don't want anything else.
• 15:35
  Like I'm a bitcoiner. That's all I want to hold.
• 15:37
  I'm going all in on Bitcoin and it's only a matter of time until
• 15:40
  everyone wakes up to the to the game that we're playing.
• 15:43
  We're literally seeing like economic musical chairs right
• 15:46
  now and eventually everyone ends up at the one single chair that
• 15:50
  is Bitcoin, like all the bitcoiners selling their chairs
• 15:52
  for one chair to stack more Bitcoin.
• 15:54
  Anyway, Anyway, Chris, what's your thoughts on that clip and
• 15:58
  maybe the war between Trump and Powell and, or if you want to
• 16:02
  touch on it, what what Mitchell was saying about global
• 16:04
  liquidity. So what?
• 16:06
  What are you thinking here, Chris?
• 16:08
  Yeah, No, I, I want to touch on, I think I've been saying, I
• 16:11
  think I'd said this last week or a couple weeks ago that
• 16:13
  basically there's like a war obviously between Powell and
• 16:15
  Trump. We saw this boiling over even
• 16:17
  before in the lame duck period between Election Day and
• 16:20
  inauguration, that Trump was basically like, I know interest
• 16:22
  rates better than Jerome Powell. Jerome Powell's like, I'm not
• 16:25
  going to step down even if Trump, quote, UN quote, fires
• 16:27
  me. He put me in, I'm going to
• 16:28
  finish the end of my term. So basically they're going head
• 16:30
  to Like, I need the economy, you know, to come down in the short
• 16:35
  to medium term because right now the US government needs to
• 16:38
  service $2 trillion of U.S. debt by the end of April.
• 16:42
  I don't know how much of it they've serviced already.
• 16:44
  And then they need to service about 10 trillion by the end of
• 16:46
  2025 S the end of this year. So basically Trump's like, hey,
• 16:50
  if pal's not going to bring interest rates down to help us
• 16:52
  out and the Treasury and to balance the budget by, you know,
• 16:55
  expensing debt at lower interest rates, then I'm going to help
• 16:58
  tank the economy. We kind of saw a little bit of
• 16:59
  that with like withdrawing liquidity in the sense of DOGE.
• 17:03
  I know a lot of people are saying they don't know if Elon
• 17:05
  Musk and his team at doge were doing enough.
• 17:07
  I know Elon Musk, he's kind of stepped away or will be stepping
• 17:10
  away in the coming weeks, but it's basically this back and
• 17:12
  forth that Trump's like, hey, I need lower interest rates in
• 17:15
  order to finance this trillions, literally trillions with AT of
• 17:18
  debt. And so him and Powell are kind
• 17:20
  of going back and forth and he's like basically Powell's stuck
• 17:23
  between a rock and a hard place. I think Powell, you know, the
• 17:25
  Federal Reserve's not federal and it's, there's no reserves,
• 17:28
  you know, at the same time, like even though it's elected
• 17:31
  position by the president, basically they report to the
• 17:33
  member banks and then those member banks are kind of part of
• 17:36
  like the banking system. And when interest rates are low,
• 17:38
  it's actually really bad to be a bank in that time.
• 17:41
  It's good if you're an investment bank when you're
• 17:42
  investing in stocks and other assets, Bitcoin, gold, stocks,
• 17:46
  things like that. But it's a bad time to be a bank
• 17:48
  because banks make money off lending money.
• 17:50
  They don't make money off deposits.
• 17:52
  Those are actually liabilities to bank.
• 17:53
  They're an asset for you. It's a liability for the bank.
• 17:56
  They make money off lending money.
• 17:57
  So when interest rates are super low, it's hard to make money on
• 18:01
  the loans that you're giving out because it's low interest rates,
• 18:03
  so low amount of interest that they're earning on the deposits
• 18:06
  or the cash or the cash equivalents that they have on
• 18:08
  hand. So I think that's kind of like,
• 18:10
  you know, while Jerome Powell and the Federal Reserve always
• 18:12
  says, oh, we want low inflation and we want like, you know,
• 18:14
  steady jobs, Like we don't want people to lose their jobs and
• 18:17
  stuff like that. They have that dual mandate of
• 18:19
  like employment as well as interest as well as inflation.
• 18:23
  Obviously, we've seen inflation come down.
• 18:25
  It's still higher than what it was or what it's been running
• 18:27
  historically. And, you know, I think the job
• 18:29
  numbers are better, but weakening less than what they
• 18:33
  are. We're seeing a lot of signs of
• 18:34
  like, I know car loans, a lot of people are starting to default
• 18:38
  on those credit card rates or, you know, the debt of consumer
• 18:41
  debt on credit cards is at basically all time highs last
• 18:44
  time I checked. So basically the everyday
• 18:46
  consumer in Main Street is being crushed right now.
• 18:49
  I know Wall Street's crying just because the stock market went
• 18:51
  down, you know, a couple thousand points on the debt now
• 18:53
  and like bitcoins been down for in kind of a little bit of a
• 18:56
  slump these last couple months. Obviously we've seen gold
• 18:58
  ripping higher. You know, maybe we're simply
• 19:00
  macro or simply gold at this point.
• 19:01
  But normally when gold goes first, all the gold people, the
• 19:05
  Peter shifts, all these guys come out of the woodworks and
• 19:07
  say, I told you Bitcoins down or only up this amount, gold's up
• 19:11
  record highs, blah blah, blah, blah, blah.
• 19:12
  And then like 6 months from now, bitcoins going to RIP roar pass
• 19:15
  its all time high be way higher historically.
• 19:18
  And then the gold guys will either be down or flat and then
• 19:21
  they'll be like, well, it's up. You know, I can pick any time
• 19:24
  period. And then they, they, they want
• 19:26
  to pick their time now. But when the time comes on
• 19:28
  Bitcoin roots roars, you know, they'll be the ones to counter
• 19:31
  last point, I'll say 200K by conference day is still in play.
• 19:35
  What they'll call this back in 2021.
• 19:37
  We don't know what conference or what year or when, but 200K by
• 19:40
  conference day is still in play. Yeah, that's I almost forgot
• 19:45
  about that meme. Yeah, 200K by conference day.
• 19:48
  Who knows which conference, but one of these conferences will
• 19:50
  get 200 K. Oh man, that's good.
• 19:52
  All right guys, we have a jam packed shelf for you guys.
• 19:55
  But before I go on, I do want to shout out Vault dweller for the
• 19:58
  $2.00 super chat and he says bought my first wallet.
• 20:01
  Self custody. Here I come.
• 20:03
  This is the way. Good job ball dweller love to
• 20:06
  hear it. This is the this is the whole
• 20:08
  game that you need to play. Do not leave your Bitcoin on
• 20:10
  exchanges take your Bitcoin into custody.
• 20:14
  Now on that note, before I move on, I do want to remind you guys
• 20:17
  to smash the like button smash the subscriber button and of
• 20:20
  course comment on the video. Let us know what you think and
• 20:23
  on that note, let's talk about our lead sponsor before I move
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  This is the whole name of the game guys.
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  concerned about treasuries and gold price and you missed out on
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  you are securing it correctly. All right, guys, on that note,
• 21:49
  let's get into today's show. I want to tell you guys about
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• 23:34
  So ball dweller, you just got a, you know, a hardware wallet.
• 23:38
  Make sure you don't leave your seed phrase on a piece of paper.
• 23:40
  All right, we're over here on Clark Moody's dashboard, of
• 23:42
  course, going over the Bitcoin numbers and the current Bitcoin
• 23:45
  price is $90,730. I'm not going to lie guys, this
• 23:49
  90K securing feels really good right now.
• 23:52
  I know we've been talking about the Bitcoin price and what's
• 23:54
  going on, but 90K felt better this morning.
• 23:57
  You know 91 K felt really good this morning for some reason,
• 24:00
  even though it's lower. What is it like 20% off all time
• 24:03
  high or 10 percent, 15% off Now it feels good.
• 24:06
  I'm I'm not going to lie it feels good.
• 24:08
  Anyways, the SAT per dollar AKA how much your Bitcoin you can
• 24:10
  buy for a single dollar AKA how much the dollar is worth in
• 24:12
  Bitcoin is currently at 1102 SAT per dollar.
• 24:16
  The current block height is 893,533 and the market cap we
• 24:21
  are inching back up to $2 trillion market cap.
• 24:24
  We are currently at one point $8 trillion and the Bitcoin versus
• 24:27
  gold market cap is currently at 7.39%.
• 24:31
  We have a long way to go in the hard money game and the total
• 24:34
  percentage of Bitcoin that will ever be issued is currently at
• 24:36
  94.54%, roughly 19.85 million Bitcoin into circulation and the
• 24:42
  realized monetary inflation taking Fiat currencies to
• 24:45
  school, it's currently at .84%. You know, even though the feds
• 24:48
  trying to get inflation to 2%, Bitcoin will still be the
• 24:51
  hardest money in the world. All right, so this next little
• 24:53
  bit guys, I want to give a huge shout out to TFTC.
• 24:56
  Shouts out to Marty over there. He's doing great work.
• 24:58
  He clipped this video of Scott Besson.
• 25:01
  Now, I'm not going to go full fed macro on you guys again,
• 25:04
  this is not what this clip is about, but if you can read it
• 25:07
  here and for the audio listeners, Scott Besson calls
• 25:10
  for a nationwide financial literacy and that everyone
• 25:13
  should care about financial literacy.
• 25:15
  And this is something that I think a lot of us Bitcoiners
• 25:18
  either naively fell into before a bitcoiner, I wasn't
• 25:22
  financially literate. Now, as a Bitcoiner, everything
• 25:25
  just makes that much more sense. So he's talking probably more on
• 25:29
  like a macroscope, like understand treasuries and what
• 25:32
  the Fed does, etcetera, etcetera.
• 25:33
  But we're going to simplify all of this and just tell you guys
• 25:36
  that Bitcoin is the fastest and best way to financial literacy.
• 25:41
  But let's just hear this clip and then I'll, you know, put the
• 25:43
  little Bitcoin spin on it. Everyone should care about
• 25:47
  financial literacy. Whether you are a student with a
• 25:50
  summer job or a part time job during school, whether you're in
• 25:55
  college, whether you're starting your career or whether you are
• 25:59
  at the end of your career. Making good financial choices
• 26:03
  creates economic security. And look it, it's fun.
• 26:08
  You you learn about the markets, you learn how to properly
• 26:14
  allocate resources, and there's a big payoff the over the long
• 26:19
  term for something you. This is the key take away that
• 26:25
  all of us bitcoiners try to get across.
• 26:28
  You need to understand money. He didn't go so far as say
• 26:31
  understand money, but you know, good capital allocation.
• 26:35
  This is how you live a good life.
• 26:37
  Yes, if you go into all the weeds and you try to understand
• 26:40
  the complexities of Tradfly, you may get confused.
• 26:43
  You know, even sometimes Chris and I will get on the show and
• 26:45
  we're like talking about bond yields and like, wait, exactly
• 26:48
  how does this work? We would argue that is by
• 26:50
  design. And the best capital allocation
• 26:52
  tool you can have is Bitcoin. And this leads me to this other
• 26:56
  great article from TFTC. And, and this is going to just
• 26:59
  boil down, I think everything going on in the markets.
• 27:02
  I've been saying this for a long time on the show that the
• 27:05
  information asymmetry arbitrage that you have as a Bitcoiner
• 27:09
  just hasn't fully been spread out across the the population.
• 27:14
  There's some people that understand Bitcoin, you know, I
• 27:16
  would argue there's some Bitcoiners that understand
• 27:18
  Bitcoin better than others, especially if you're like a shit
• 27:21
  coin gambler, then you probably don't understand it.
• 27:24
  But the point remains the same. Few people truly understand
• 27:27
  what's going on. And once you look through the
• 27:28
  world through this Bitcoin lens, all of the trad fly nonsense
• 27:32
  starts to make sense and you can start to wrap your head around
• 27:35
  what's going on. When you have the first
• 27:36
  principles of Bitcoin, the fundamental understanding of
• 27:38
  Bitcoin, you can look at the world and start to parse the
• 27:41
  information and project where the future is going, where you
• 27:45
  know where the puck is going, so to speak.
• 27:47
  So I'm not going to read this whole article here, but I highly
• 27:50
  suggest you do. It is pretty short.
• 27:51
  I'm just going to pinpoint what I think might be playing out in
• 27:54
  the markets. And I think this is the pure
• 27:57
  signal here. So starting off with Marty
• 27:59
  Bent's tweet, he goes, the need for a neutral hard asset that is
• 28:02
  fine-tuned for the digital age has never been clear.
• 28:05
  But this information is not evenly distributed at the
• 28:08
  moment. If you hold Bitcoin, you are
• 28:10
  arbitraging this information asymmetry.
• 28:13
  And this first part is kind of talking about that the
• 28:15
  information and the understanding around Bitcoin
• 28:18
  isn't fully spread out in the in the public consciousness yet,
• 28:21
  though it is getting there. And we are seeing signals that
• 28:24
  they are at the high positions. Like, I don't think you can be
• 28:27
  naive anymore and say that like the Jamie Diamonds of the world
• 28:30
  don't understand what Bitcoin or Larry Fink doesn't understand
• 28:32
  Bitcoin enough. I, our Christine Lagarde doesn't
• 28:35
  understand Bitcoin. I think they fully understand
• 28:37
  what is at stake. And This is why you're seeing
• 28:40
  all of their public positioning Now.
• 28:42
  What I really want to hit on, and I think this is the signal.
• 28:46
  We talked about it earlier. Is there a war between Trump and
• 28:49
  Powell? You know, are they fighting over
• 28:51
  interest rates to refinance a trillion dollars of debt that
• 28:55
  the US holds? Or is there on the other side,
• 28:58
  some kind of theatre K fab playing out where, you know,
• 29:01
  they're making all this scene, but the true playbook is
• 29:03
  devaluing the dollar, making weakening the dollar so that
• 29:07
  they can continue their position.
• 29:09
  And it's very strange because even though they print more
• 29:11
  money, yes, your purchasing power goes down, which is a bad
• 29:14
  thing. But in the current state of the
• 29:16
  world, they need a weaker dollar to maintain the dominance that
• 29:19
  they have. Now here is, I think, the main
• 29:21
  signal of this. And then of course, I'll put the
• 29:23
  Bitcoin spin on it always. So the headline here or the
• 29:27
  segment here is the coordinated currency devaluation playbook,
• 29:30
  how governments will tackle debt.
• 29:32
  Now this is, I think what is playing out.
• 29:34
  This is my latest, latest ideas. Like it's not just for me, but
• 29:39
  just from everything I'm seeing, this seems to make the most
• 29:41
  sense. And here's a tweet here or a
• 29:43
  quote and goes, if everyone devalues at the same pace, if
• 29:47
  everyone devalues their currencies at the same pace, in
• 29:50
  other words, if the British pound, the US dollar, the euro,
• 29:52
  the yen, all devalue at the same pace, the paper money cross
• 29:56
  rates don't change particularly, but everybody inflates against
• 30:00
  gold. And looking at the markets, you
• 30:02
  are maybe seeing this play out. Gold's going all time high right
• 30:05
  now. We're seeing that the US dollar
• 30:08
  is weakening against the Swiss franc.
• 30:09
  We're seeing it weaken against the Japanese yen.
• 30:12
  And it's just becoming very interesting that maybe this is
• 30:16
  the playbook we're seeing out. While everyone is distracted by
• 30:19
  the stock market dropping, by bond yields going up.
• 30:22
  This may be the true play that we are just seeing the
• 30:25
  government's devalue their currencies on on a mass level.
• 30:29
  So everyone's basically equal. Yes, you're losing purchasing
• 30:32
  power against gold or hard money.
• 30:34
  But if everyone devalues their currency, then nothing really
• 30:37
  changes on the global order. They're just able to easily pay
• 30:40
  off their debt. And we all know that this is one
• 30:42
  of the main goals that Trump is trying to do.
• 30:44
  So here to add a little more goes.
• 30:46
  This coordinated devaluation creates a fascinating dynamic
• 30:49
  where private sector innovation is racing ahead of regulatory
• 30:52
  responses. Bitcoin and stable coins
• 30:54
  represent the market's attempt to create alternatives to
• 30:57
  government controlled currencies.
• 30:58
  What's particularly interesting is how is observation about
• 31:01
  current investor positioning. Markets have rapidly shifted to
• 31:05
  extreme defensive allocations, with only 3.5% of occasions
• 31:09
  since 1978 showing more defensive positioning than
• 31:12
  today. This suggests we could see a
• 31:14
  signal significant bounce before any major crisis, creating
• 31:17
  opportunities for those who understand the long term
• 31:20
  devaluation playbook. Now of course, we would argue
• 31:24
  one of the main opportunities here and that one that most
• 31:27
  people miss and relegate to the corners is Bitcoin.
• 31:30
  Now Stack Hodler did a great tweet here.
• 31:33
  Again, I'm not going to read the whole thing, just kind of the
• 31:34
  bulk of it. And and I think looking at what
• 31:38
  gold's doing, looking at what bitcoins doing, looking at what
• 31:40
  we think is going to happen to the Bitcoin price following this
• 31:43
  gold run up is that Bitcoin is also going to RIP.
• 31:46
  So reading this a little bit, Stack Hodler goes, you need to
• 31:49
  understand why Bitcoin and gold are both up roughly 70% in the
• 31:52
  past fourteen months and why the NASDAQ is flat.
• 31:55
  Despite the unfolding AI and robotic revolution, the dollar
• 31:59
  is crashing and long term U.S. Treasuries continue to lose
• 32:02
  value. The writing has been on the wall
• 32:04
  since twenty 20s and or 20 20 and meme stocks and shit coins
• 32:07
  were a distraction. Bitcoin and gold hard money
• 32:10
  without counterparty risk has been the most important
• 32:13
  investment thesis to understand this decade.
• 32:15
  The global monetary order is rapidly changing and the status
• 32:19
  quo is dead. There's still time to allocate
• 32:22
  the hard money and protect your capital.
• 32:23
  And if you're looking at all the charts, we've been trying to
• 32:26
  become, you know, macro experts on on the quick here, Everything
• 32:30
  is heading towards the direction that we've been saying people
• 32:32
  are moving towards hard money. And I know the decoupling meme
• 32:36
  seems to be, you know, like The funny thing to dump on right
• 32:39
  now. But we seem to have seen the re
• 32:41
  decoupling play out. I remember on the, you know, the
• 32:43
  Friday before the tariff, the tariff war announcement happened
• 32:46
  or after the tariff war happened, the markets melted
• 32:50
  down and Bitcoin was able to decouple a little bit.
• 32:52
  And then on Monday it recoupled. Well, we saw yesterday something
• 32:56
  similar is going on. It seems like the psychology
• 32:59
  around investors is starting to wrap their head around this idea
• 33:02
  that hey, maybe I don't want equities, maybe I don't want
• 33:06
  treasuries. Maybe the only smart move is to
• 33:09
  stack some Bitcoin. And here we have Tyler Wieco,
• 33:11
  boss, of course, Co founder of Gemini.
• 33:13
  He goes the Bitcoin decoupling from trad flies upon us and he's
• 33:16
  quote tweeting watcher guru basically saying one point, $5
• 33:19
  trillion were wiped out of the US stock market today or
• 33:22
  yesterday and Bitcoin was plus three.
• 33:26
  Bitcoin was basically one of the only green things.
• 33:28
  It was Bitcoin and gold and anything related to Bitcoin that
• 33:31
  was pumping. So we are seeing that the ace of
• 33:34
  the asymmetric information arbitrage is starting to spread
• 33:38
  around the world and people are starting to look at Bitcoin as
• 33:41
  an actual thing to invest in. And of course for you guys here,
• 33:45
  most of you are Bitcoiners, but if you happen to come into the
• 33:47
  show and you're like, what are these Bitcoin is talking about?
• 33:50
  Do they even understand what's going on?
• 33:52
  Well, you don't have to take it from us.
• 33:53
  The market is signaling what we've been saying.
• 33:56
  It is proving our hypothesis, our thesis here, that in the
• 34:00
  face of everything going on, Bitcoin will start ripping and
• 34:03
  people need a neutral political money or a neutral political
• 34:07
  asset because we're seeing that every government is on the verge
• 34:11
  of devaluing their currencies. And if you're just an average
• 34:14
  person trying to save in dollars, you're going to get
• 34:15
  absolutely wrecked. And even further, if you're a
• 34:17
  wealthy person saving in in stocks and equities, you're
• 34:21
  seemingly going to get wrecked. And no one wants to go into
• 34:24
  treasuries. So you have two choices.
• 34:26
  It's buy gold or buy Bitcoin. And we all know that Bitcoin is
• 34:30
  digital gold mean Bitcoin is the superior way to transact in the
• 34:34
  digital age. Anyways, I've been ranting long
• 34:36
  enough. Let me go to Chris.
• 34:38
  I'll go to Chris first. What's your thoughts on on this
• 34:40
  whole little spew I had here? Bitcoins going up, that's what I
• 34:44
  think it needs. I guess.
• 34:47
  What else do you want me to add? Just on like I thought you did a
• 34:49
  good job with covering pretty much everything was really
• 34:51
  broad. OK.
• 34:52
  All right. Well, hey, you know, thank you.
• 34:54
  Thank you. Well, you know, when I get to
• 34:55
  stump Chris on the show, the 45 IQ Bitcoiner can stump Chris.
• 34:58
  I'll take it. I'll take it.
• 35:00
  So I'll pass it over to Mitch. Mitch, you, you are very
• 35:02
  interested in this idea of the Trump versus Powell.
• 35:06
  What's your thoughts on this idea?
• 35:07
  Yeah, that maybe we're seeing a planned demolition in the
• 35:10
  economy to devalue currencies globally and This is why we're
• 35:14
  seeing moves go into hard assets.
• 35:16
  Yeah, I think that's spot on. Opti.
• 35:19
  It basically the way I view the forex market is it's just a
• 35:23
  giant pissing match between countries to see who can devalue
• 35:25
  their currency the fastest, right.
• 35:27
  And if you look at Trump's goals, his stated goals, which
• 35:31
  is to reassure manufacturing the United States and to refinance
• 35:34
  the debt, he needs a weaker dollar to do that.
• 35:37
  And since Trump was inaugurated, we've seen the the DXY, the
• 35:40
  dollar currency index go from around one O 8 down to about 99
• 35:44
  now. So that's a 10% drop in the
• 35:46
  dollar. So I think he's doing exactly
• 35:49
  what he needs to do in order to to push the economy in the way
• 35:52
  they see fit. And we're seeing gold
• 35:55
  specifically, but I think we'll start to see Bitcoin respond
• 35:58
  accordingly. Yeah, totally.
• 36:00
  And I I think we are seeing that especially today with the
• 36:03
  Bitcoin price, you know, starting to pump yesterday we
• 36:06
  saw a pump today we're seeing a kind of pump obviously as a
• 36:09
  Bitcoin and we're like what it went up like two $3000 like what
• 36:12
  kind of bump is this? What is the pump for ants?
• 36:15
  I think what I've been saying the last couple weeks and I, I,
• 36:19
  I was being a little, you know, bullish and, and optimistic
• 36:22
  about what we're seeing in the Bitcoin price, because a lot of
• 36:24
  people are like, man, you know, like bitcoins not ripping.
• 36:28
  It's only going sideways or it dumped on that bloody Monday And
• 36:32
  but it wasn't the end of the world and it's actually holding
• 36:34
  out up like very, very strong in the face of all these global
• 36:37
  macroeconomic factors. And I think seeing Bitcoin start
• 36:41
  to RIP right now, I think that's like the interesting signal here
• 36:45
  in the interesting angle, like yes, gold ripping and it and
• 36:47
  it's kind of, you know, it's doing a really good run right
• 36:50
  now. But the fact Bitcoin held up
• 36:51
  really strong compared to the last time Bitcoin had a
• 36:54
  macroeconomic catastrophe. I think that's the signal now
• 36:58
  we're seeing it run like we're not saying it's going to run to
• 37:01
  200 K and just like constant green candles for the rest of
• 37:04
  the year. But I think we might be seeing,
• 37:06
  I don't know if it's going to be this month.
• 37:07
  I know we had the Josh Mandel meme.
• 37:09
  He's like by the end of what was at the end of March, we're going
• 37:11
  to hit 100K and then he's like, no, it's going to be April.
• 37:14
  Like, I don't know about all that because we're at the end of
• 37:17
  April, but I think May might be a good month in terms of price,
• 37:21
  you know, reaction upwards and then we'll probably kind of go
• 37:25
  sideways is kind of what I'm feeling.
• 37:26
  And then end of the year we'll get like a crazy pump.
• 37:28
  But who knows it all. It all remains the same.
• 37:31
  Just stack as much Bitcoin as possible in the face of all of
• 37:34
  this crazy complexities. You just got to keep it simple,
• 37:37
  stupid. And I'm the stupid one here.
• 37:39
  You just buy Bitcoin, continue to save in Bitcoin and all of
• 37:42
  this stuff doesn't matter. Yes, you can learn like lean
• 37:45
  into it, try to understand what's going on in the global
• 37:47
  markets, but as long as you're stacking Bitcoin, this is all
• 37:50
  essentially noise. But we understand most people
• 37:52
  try to fight people. They look at these signals and
• 37:55
  they try to understand the markets.
• 37:56
  They look at the tea leaves that Jerome Powell was sending out
• 37:58
  there and they're like, all right, where do I position
• 38:00
  myself? And those Bitcoiners are just
• 38:02
  like kicking back, Like, bro, just buy Bitcoin.
• 38:04
  Like it's really not that hard. But I mean, can can we blame
• 38:08
  them? Like we, we look like kids here
• 38:10
  on the shows. Like what do these kids
• 38:11
  understand about global macro markets?
• 38:13
  And we're like, hey, man, you know, maybe you're right, but it
• 38:16
  looks like the Bitcoin returns are better than anything you're
• 38:18
  getting on Wall Street, anything you're getting with equity.
• 38:21
  So maybe you should listen to the kids over here in the
• 38:23
  corner. But you know, it is what it is.
• 38:26
  Right. If you're one of these
• 38:28
  traditional investors, you have to be paying attention somewhat
• 38:31
  and seriously consider what it means to have a diversified
• 38:34
  portfolio because for the past few decades, the idea is have
• 38:38
  stocks and have bonds and there's going to be an inverted
• 38:41
  relationship. But over the past month, we've
• 38:43
  seen one of the least uncertain times since I've been alive and
• 38:47
  paying attention to markets in both stocks and bonds have gone
• 38:51
  down. So it kind of takes, you know,
• 38:53
  traditional, the status quo of investing and it throws it right
• 38:57
  out the window. And to see Bitcoin perform well
• 39:00
  during this period, if you're a traditional investor, you have
• 39:02
  to be paying attention to that. Otherwise you're you're going to
• 39:04
  get kicked to the curb eventually.
• 39:07
  Yeah, I saw, I think it was Pomp.
• 39:09
  Pomp was on like CNBC and he he had this like quote that I that
• 39:14
  I think really, yeah, he was on CNBC with Joe Kernan and he had
• 39:17
  this quote that I think really wraps up or sums up everything
• 39:21
  that we say as like the younger generation, if you're like, you
• 39:24
  know, under 35 or whatever. And he essentially said like the
• 39:27
  6040 traditional portfolio that, you know, your parents or like
• 39:31
  your uncle would tell you is the best way to allocate your, your
• 39:35
  investments. It just doesn't work for us
• 39:37
  anymore. It's, it's an obsolete
• 39:38
  investment portfolio breakdown. And anyone that is really tapped
• 39:43
  in and tuned into what's going on understands that like, all
• 39:46
  you need to do is buy Bitcoin, like go 100% of Bitcoin 6040
• 39:50
  portfolio doesn't work anymore. And even if you want to be a
• 39:53
  little conservative about it, you could kind of follow the
• 39:56
  Black Rock playbook and like, hey, you know, you could do your
• 39:59
  6040 portfolio with like 95% of your portfolio, but 5% at least
• 40:03
  should be in Bitcoin. And it's just in it's, it's
• 40:06
  really, really insane or incredible to me that most
• 40:09
  people aren't following these strategies yet when I think it's
• 40:12
  been proven by now, Bitcoin is the best.
• 40:14
  But rather, as I would say, Bitcoin is the only thing to be
• 40:16
  investing in. Like yes, if you want to buy
• 40:19
  real estate for like a house or something, then by all means do
• 40:22
  it. You know, yes, if you want to
• 40:24
  hold like a physical gold bar, then you could do that.
• 40:27
  But you should be all in on Bitcoin if you're 35 and under.
• 40:30
  This is not financial advice, but you should be all in on
• 40:33
  Bitcoin. Opti the 6040 is not dead.
• 40:36
  I'm 60% Bitcoin, 40% sats. Let's.
• 40:39
  Go, this is the way. This is the way.
• 40:42
  All right, guys, so let's get into the news because I do have
• 40:45
  two different news stories and the first one is just kind of an
• 40:48
  update. And the second one is about the
• 40:50
  ECB. And you guys know I love the ECB
• 40:53
  and everything coming out of the EU.
• 40:55
  So this is going to be an interesting take on what's going
• 40:57
  on in in the European Union in regards to stable coins in
• 41:02
  Bitcoin and of course their reaction to what Trump is doing.
• 41:05
  So more, more signal coming out that the EU is just absolutely
• 41:10
  wrecking themselves. But hey, what?
• 41:11
  We'll cover all that right now. I want to give a shout out to
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  our sponsor Casa. Casa makes self custody easy and
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  wallet on the market, the cold card Q scan the QR code use a
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  your Bitcoin. All right, guys, so and also I'm
• 43:38
  I'm seeing the chat during the transition one guys, I'm I'm not
• 43:42
  I'm not you know, I'm not boomer shaming here.
• 43:44
  I'm I'm just trying to get this message across to the younger
• 43:47
  generation that hey, if you are on the young end of the
• 43:50
  spectrum, you should have as much Bitcoin as possible.
• 43:54
  Everyone older than me at 35 plus that's all in on Bitcoin.
• 43:57
  We love you guys. Whenever I talk about boomers,
• 44:00
  I'm not talking about you guys, OK, I, I get literally I get
• 44:03
  shit all the time in public like you always shit on boomers like
• 44:06
  there's some of us that are good.
• 44:07
  I know I know it's called a generalization.
• 44:09
  I love you guys in the chat. OK, I love you.
• 44:10
  I love you and then also I'm getting roasted for my my
• 44:14
  ex-girlfriend, Christine Lagarde.
• 44:15
  Well, we're going to touch on that.
• 44:16
  We're going to touch on that in a little bit.
• 44:17
  So first update for everyone out there that's coming out from you
• 44:21
  know, sec.gov. So Paul Atkins was sworn in as
• 44:25
  the SEC chairman. Now I know you guys saw what was
• 44:28
  it a week ago? Me and Nico, I was rather
• 44:30
  trolling Nico about the fact that Gary Gensler came out as a
• 44:33
  Bitcoin maxi and he's like bro, he was bad for the industry and
• 44:37
  I'm like whatever I was right I'm vindicated.
• 44:39
  Well, why am I bringing this up is because Paul Atkins being
• 44:43
  sworn in as SEC chairman. It it, it's almost starting to
• 44:46
  feel like what Bitcoiners were thinking when Garen Gensler got
• 44:49
  in. It's like, OK, we have a pro
• 44:50
  crypto, you know, SEC chairman, this is going to be good.
• 44:53
  Well, Paul Atkins is also very pro crypto at this point.
• 44:57
  You know, maybe we got to get him to be a pro Bitcoiner.
• 45:00
  But it looks like what we've been seeing for a while and this
• 45:04
  new Trump administration is sort of playing out that we're going
• 45:07
  to see a more favorable regulate regulatory environment for
• 45:10
  Bitcoin. And I think it's starts with
• 45:12
  Paul Atkins being confirmed as the SEC chair.
• 45:16
  And so I'm not going to read the whole article here, but there is
• 45:19
  a few kind of interesting tidbits here.
• 45:21
  He is more pro crypto per SE, but you know, it it they can't
• 45:27
  be perfect, I guess. So he will go here.
• 45:30
  His his confirmation was reportedly delayed due to
• 45:33
  several financial disclosures that he needed to file as a
• 45:36
  result of marrying into a billionaire family.
• 45:39
  Absolute Chad mood, I'm not going to lie.
• 45:42
  Some of these financial disclosures reportedly included
• 45:44
  up to $6 million worth of crypto related investments, including
• 45:49
  crypto custody platform Anchorage Digital and blockchain
• 45:52
  tokenization platform securitize.
• 45:55
  So that's probably, you know, as much information as we need,
• 45:58
  though, remember that Anchorage Digital is one of Blackrock's
• 46:03
  new custody partners. So you know, you can read into
• 46:07
  that all you want, but this guy is a lot more pro crypto
• 46:12
  friendly seemingly than Gary Gensler.
• 46:14
  We'll see what actually plays out in the SEC and what this
• 46:17
  means for our industry. But I think tentatively this is
• 46:20
  this is a good thing. So here's a second story or
• 46:23
  actually you guys, guys, you want to jump in on this?
• 46:25
  You have any thoughts on Paul Atkins before I break down this
• 46:27
  article because I might, I might have to read a little bit here.
• 46:29
  So you got you got to talk on this.
• 46:32
  Yeah, I'll say that just because the SEC chairman may be pro
• 46:36
  crypto doesn't necessarily present a bull case for non
• 46:39
  Bitcoin cryptos because we we already saw the all coin scene
• 46:44
  kind of it had it had a nice run up when Trump was firstly
• 46:48
  inaugurated back in November, December.
• 46:50
  But since then and and really over the past 2 1/2 years since
• 46:54
  the FTX collapse, the story has been Bitcoin dominance.
• 46:57
  Bitcoin dominance at the the 2022 lows was around 40% and now
• 47:01
  it's upwards of 6065%. And so these, all these other
• 47:05
  cryptos, it, it's important for them who the SEC chair is
• 47:08
  because they are securities, unlike Bitcoin which is a
• 47:11
  commodity. There was a, there was a fair
• 47:13
  issuance. It's a finite supply.
• 47:15
  All these other cryptos had pre mined tokens.
• 47:17
  You know, Vitalik is ruthlessly dumping on the ETH holders
• 47:21
  constantly. ETH BTC is at 5 year lows.
• 47:24
  So just don't don't confuse. This seemingly positive news is
• 47:27
  actually a long term bull case for altcoins.
• 47:31
  Love it all right, that was a that was a great take Good good
• 47:34
  job Mitch. All right now going into this
• 47:36
  article and I think this might be the more interesting story
• 47:39
  coming out today. You guys know I've I've been
• 47:44
  very critical of stable coins just because I'm I'm like a
• 47:46
  bitcoiner. I, I want to see people jump to
• 47:48
  Bitcoin and not necessarily jump into a dollar denominated stable
• 47:53
  coin that is essentially continuing to push, you know,
• 47:56
  the Fiat system and, and I, you know, I've gotten heat on the
• 47:59
  show and some people agree with me, some don't.
• 48:01
  I understand the argument that like third world countries are
• 48:04
  going into stable coin because they have no Fiat, they have no
• 48:07
  savings and it's, you know, baby steps towards Bitcoin.
• 48:10
  I, I totally understand that. Now that's not what this article
• 48:13
  is about, but we are starting to see a growing trend and we've
• 48:18
  been covering it on the show for a while.
• 48:19
  While the US goes seemingly more pro Bitcoin, we're seeing the
• 48:24
  European Union do whatever they can to stop Bitcoin or even stop
• 48:28
  stable coins and usher in their CBDC system.
• 48:31
  Now Politico dropped this article this morning and this is
• 48:34
  exactly what they are saying, though there is part of this
• 48:38
  kind of going into what our boy Mark Goodwin would be saying of,
• 48:40
  you know, the Bitcoin dollar system.
• 48:42
  So a lot of interesting stuff. I will read some of this
• 48:45
  actually, I might read more than I'd want to, but there's a lot
• 48:48
  of good stuff in here. So this is coming from Politico
• 48:50
  and it goes Commission livid as ECB warns of crypto apocalypse
• 48:54
  under Trump Washington embrace of crypto main danger the
• 48:58
  European financial system. But Frankfurt and Brussels are
• 49:01
  arguing over whether to rewrite a landmark law again, love the
• 49:05
  projection that we see from the European Union and the ECB that
• 49:09
  hey, you know, if people start to use Bitcoin, we're going to
• 49:12
  see a total financial collapse here.
• 49:14
  And this is the blame Bitcoin or blame stable coins.
• 49:17
  And it's like now in reality, you should blame yourself
• 49:20
  because we have nothing to do with your system.
• 49:22
  We are again in a political neutral money.
• 49:25
  So going in, here we go. Battle lines are being drawn
• 49:27
  between the European Central Bank and the European Commission
• 49:30
  over whether landmark rules to govern crypto currencies are
• 49:33
  strong enough to withstand the full force of Donald Trump.
• 49:36
  The ECB thinks the US president's lavish support for
• 49:38
  the American crypto sector risk causing financial quote
• 49:41
  contagion that could blow up the European economy, according to a
• 49:45
  policy paper seen by Politico. It is demanding seeing an urgent
• 49:50
  rewrite of laws brought fully into force only four months ago.
• 49:54
  But in a rebuff, the Commission dismissed the bank's alarmist
• 49:57
  analysis, signaling that it had misunderstood the EU's own rules
• 50:01
  and hit back at what it saw as an unwelcome intrusion into law
• 50:05
  making. The argument shed slide on how
• 50:08
  jittery Financial Policy makers generally are about moves by the
• 50:11
  Trump administration to, quote, expand the reach of the dollar
• 50:14
  via complex financial technology.
• 50:17
  European officials fret that several major financial market
• 50:21
  reforms the US president has touted will undermine efforts to
• 50:24
  become a strategically independent or will undermine
• 50:27
  efforts to become strategically independent.
• 50:29
  As the EU tries to revamp its financial sector, the worry it
• 50:32
  will prompt a flight of assets to the US and entrench fresh
• 50:36
  risk into the system. The specific clashes about the
• 50:39
  markets and crypto asset regulations, otherwise known as
• 50:42
  Mika, a landmark law passed in 2023 and heralded as the first
• 50:46
  regulation worldwide to introduce strong safeguards and
• 50:49
  consumer protection for cryptocurrency firms.
• 50:52
  Cryptocurrencies, digital currencies that can be bought,
• 50:54
  sold and traded online look like be look like they're being given
• 50:58
  a new light lease on life under Trump after the industry pumped
• 51:02
  billions of dollars into his election campaign.
• 51:05
  Now this is, you know, where where they start bringing in the
• 51:08
  stable coin, so stable and genius at the heart of the
• 51:12
  recent scuffles anxiety regarding a popular kind of
• 51:15
  cryptocurrency known as a quote stable coin, which emulates the
• 51:19
  stability of major currencies like dollars and EUR, unlike
• 51:22
  more volatile crypto currencies like Bitcoin.
• 51:24
  Again, as Bitcoiners, we would say as Bitcoin maxes, you know,
• 51:28
  stable coins are only stable until they're not.
• 51:30
  Bitcoin is the real stable coin here.
• 51:32
  But I do like the framling, you know, volatile cryptocurrencies
• 51:35
  like Bitcoin. You can see the projection and
• 51:37
  the bias from Politico, but let's we'll we'll put a pin on
• 51:40
  that one. So the majority of these stable
• 51:42
  coins are denominated in dollars and in some countries are
• 51:44
  already used as an easily acceptable alternative to the
• 51:47
  greenback. When local currencies are
• 51:49
  unreliable, governments fear they can replace traditional
• 51:51
  money, undermining national sovereignty and leaving citizens
• 51:54
  vulnerable to the fortunes of a business with a pension for
• 51:58
  disaster meltdown. In theory, Mika reduces the risk
• 52:01
  of foreign currency backed stable coins disrupting the
• 52:04
  European economy by limiting who can issue them and how much can
• 52:07
  be issued, while still allowing EU citizens to use them.
• 52:11
  But plan reforms in the US, including a White House
• 52:13
  executive order and the drafting of two laws dubbed Stable and
• 52:16
  Genius, extend the reach of the American stable coin industry,
• 52:20
  with one analysis by British bank Standard and Charter
• 52:22
  predicting the supply of dollar backed tokens could hit $2
• 52:25
  trillion by 2028, up from 240 billion today.
• 52:29
  This has prompted panic warnings from ECB President Christine
• 52:32
  Lagarde and its digital payments are Piero Cipione apologies.
• 52:38
  In recent months, both top officials have suggested that
• 52:41
  the Mika rules are not strong enough to withstand the effects
• 52:43
  of a turbocharged US stablecoin industry, worrying that a flood
• 52:47
  of dollar denominated assets into Europe could reroute
• 52:49
  European savings into the US. On Thursday, Lagarde said Mika
• 52:53
  would have to change and implied that the unique threat posed by
• 52:56
  stablecoin was understood by the Commission and other EU
• 53:00
  institutions. But Lagarde's audience did not
• 53:03
  know that her words came after an acrimonious exchange of
• 53:06
  barbed research papers earlier this month.
• 53:08
  Anyways, they go on to say that ECB has a fundamental
• 53:11
  misunderstanding of their own laws.
• 53:14
  And we're seeing Frankfurt in Brussels be like they're
• 53:17
  freaking out because they really want to usher in a CBDC.
• 53:20
  And this is something we've been saying on the show for a long
• 53:22
  time. Once you understand the game
• 53:24
  theory playing out right now, a lot of the moves that the
• 53:27
  European Union or the European Central Bank are making make a
• 53:31
  lot of sense. Excuse me, Hold on.
• 53:33
  They are panicked about people using Bitcoin or even using a
• 53:36
  stable coin, which we would argue is just an extension or I
• 53:39
  would argue I'm, I'm not going to put words in Nico's mouth
• 53:41
  here, but I would argue is just an extension of the Fiat system.
• 53:45
  But what you're seeing, the response coming from Christine
• 53:47
  Lagarde or ECB or the European Union is very telling when you
• 53:51
  know that they are rushing till where we've heard in October to
• 53:56
  release their CBDC, obviously a central bank digital currency,
• 54:01
  which is basically just you got system on steroids where they
• 54:05
  can, you know, time your savings out.
• 54:07
  They can put limits on what you're doing.
• 54:09
  They can debank you. All of these things are really
• 54:12
  what one of our, you know, biggest haters in the chat
• 54:15
  always says, you know, ushering in a cashless society.
• 54:18
  That's what the CBDC is. And we're seeing that they are
• 54:21
  going full steam on this. And all of the panic you're
• 54:24
  seeing around stablecoins or even Bitcoin is all just a
• 54:28
  response because they know that they want to usher in the CBDC
• 54:32
  and, and they're going to blame their own problems on something
• 54:35
  that literally has nothing to do with with their system.
• 54:37
  It's, it's again, neutral, apolitical.
• 54:40
  It is outside of their control, outside of their purview.
• 54:43
  And this freaks them out. And so again, once you
• 54:46
  understand just the basic fundamentals of Bitcoin,
• 54:50
  everything else comes into Clearview.
• 54:52
  This is why you can see when the ECB panics about Bitcoin, what
• 54:56
  they're really doing is they're trying to fear monger so that
• 54:58
  they can, you know, fix the payment system in Usher CBDC.
• 55:02
  But it does play into, and I'm going to pass it on to Chris
• 55:05
  after this. It does play into our boy Mark
• 55:08
  Goodwins thesis, the digital, you know, Bitcoin dollar system
• 55:12
  where we are seeing politicians, though they're being favorable
• 55:16
  towards Bitcoin, they are pushing a lot of stable coin
• 55:20
  regulation so that we can maintain, and by we, I mean the
• 55:23
  American federal government maintain dollar dominance around
• 55:27
  the world. And, you know, stable coins are
• 55:29
  a lot, they are a lot easier to get into these other countries
• 55:34
  that they can't actually get dollars into.
• 55:36
  And so this is one of the reasons why I'm not the biggest
• 55:40
  fan of stable coins, though, you know, the biggest one in the
• 55:42
  world is by far the most profitable Bitcoin company ever,
• 55:46
  you know, and they're backed by by treasuries.
• 55:49
  And so this is the big contention that we're seeing
• 55:52
  right now. We're seeing the US not only
• 55:53
  GoPro Bitcoin, but GoPro stablecoin.
• 55:56
  And now we're seeing the ECB in the European Union.
• 55:59
  Well, not, not as that monolith here, essentially say, hey, you
• 56:03
  know, we want to usher our CBDC here.
• 56:05
  So we got to do whatever we can to stop stablecoins and of
• 56:08
  course, stop the adoption of Bitcoin.
• 56:09
  So you're seeing not only is there potentially a war in the
• 56:13
  US between Trump and, you know, the Federal Reserve, but we're
• 56:17
  seeing there is a global war going on between in the US and
• 56:21
  the European Union. And the European Union just
• 56:24
  seems to be taking LS up and down the street every single
• 56:27
  week. So very interesting stuff.
• 56:29
  All right, rambled enough. I read enough.
• 56:31
  Chris, what's your thoughts on this article from Politico?
• 56:34
  Yeah, I'm going to give a shout out to our boy Mark Goodwin as
• 56:36
  well. I was actually talking to him
• 56:37
  probably a couple months ago, a couple weeks ago, I forget.
• 56:39
  And yeah, just iconic echo his sentiment that stable coins are
• 56:44
  shouldn't be seen as stable coins or stable dollars or
• 56:47
  whatever you call them. They're basically privatized
• 56:49
  CBDCS, which a lot of Bitcoiners have said they thought like
• 56:53
  government issued CBDC's central bank digital currencies would be
• 56:57
  like fail on arrival. Or like we've seen it in
• 56:59
  Nigeria, we've seen it in Europe even.
• 57:02
  They've tried experiments and we've seen ones that like they
• 57:04
  try to incentivize them or force people to use it.
• 57:06
  Probably the only successful 1, so to speak, is China's, the
• 57:10
  digital yuan. And they kind of force their
• 57:12
  citizens by keeping them in a black box of making them use it
• 57:16
  through WeChat or just like any of the banking systems.
• 57:18
  So they kind of force people into it, but people that want to
• 57:21
  remain free, you know, they don't want to use it where a lot
• 57:24
  of the US or private sector basically incentivize with
• 57:28
  Tether or you know, I know there's a circles a USDC, which
• 57:32
  I don't I've never heard of anyone using.
• 57:34
  I don't know how it works. Like I think it's like tether
• 57:36
  bust basically. There's been a few that have
• 57:38
  propped up to try and fight it or, or trying to be competition
• 57:41
  to tether, but Tether by far and away is like the most used ever
• 57:46
  or most used stablecoin out there.
• 57:49
  I think Americans were very privileged that like we have
• 57:51
  other things like like cash app, we have things like Venmo,
• 57:54
  PayPal, like Zelle, whatever it may be.
• 57:57
  That being said, though, when you are using their system, you
• 58:00
  can, it can be reversed if you say something the government
• 58:02
  doesn't like, if you go up against a political party, if
• 58:05
  you do, if, if you're a dissenting voice, they can turn
• 58:08
  off your bank account, they can turn off your insurance, they
• 58:10
  can withdraw money from your account without you doing
• 58:12
  anything. So while I'll caveat and say
• 58:14
  like Tether has a very profitable business, they have
• 58:15
  like what, less than 100 employees and they've been made
• 58:17
  literally billions upon billions of dollars.
• 58:19
  Like their profit margin on just the the volume of employees or
• 58:23
  the number of employees what they make, as Optius mentioned
• 58:25
  before, they make more profit than BlackRock per per employee.
• 58:29
  They probably make more profit per employee than I think any
• 58:33
  business in the world right now to my knowledge.
• 58:36
  That being said, and I know a lot of people that I'm going to
• 58:38
  go against the grain here, so many bitcoiners are like, oh,
• 58:41
  they're real bitcoiners. I'm like, I don't know if a real
• 58:44
  bitcoiner would prop up and propose A CBDC.
• 58:47
  Don't get me wrong, I'm not knocking people for use it, just
• 58:50
  as I'm not knocking people that use Venmo, Zelle, Cash App and
• 58:52
  stuff like that. Like if you're in South America
• 58:54
  per SE, if you're in Africa, if you are in your even parts of
• 58:59
  Europe that require or want the US dollar in order because we
• 59:02
  have the US dollar hegemony of basically the petrodollar system
• 59:05
  that you need dollars are better than your Fiat currency.
• 59:08
  Like I understand why someone would use it, but I don't think
• 59:11
  we should prop up Ted. They're like, oh, they're good
• 59:13
  guys. They're here to help us.
• 59:15
  They guys they've onboarded the IRS and the FBI.
• 59:17
  And if they want to talk about corrupt organizations, like
• 59:20
  those are probably in the top five in the US is most corrupt
• 59:22
  organizations, you can throw the CIA in there as well.
• 59:25
  But like, I really do think it is like, you know, the private
• 59:28
  sector's version of a CBDC personally.
• 59:31
  So I don't know a lot of people like they're awesome bitcoiners,
• 59:33
  they're stacking Bitcoin. I was like, they've got a great
• 59:34
  business model. I will give it to them.
• 59:36
  But like, it's not something I've never used Tether.
• 59:39
  I don't plan on using Tether. I don't want to be forced to use
• 59:41
  Tether. You know, I give them props to
• 59:44
  their business model, but it's not something that I would
• 59:45
  personally use. And I don't know if they're like
• 59:48
  a wolf in sheep's closing. Personally, I have nothing
• 59:50
  against them. It's just buyer beware
• 59:52
  basically. Yeah, I mean, on their business
• 59:55
  model, it is great. I do feel similar sentiments as
• 1:00:00
  Chris. I'm just a Bitcoiner.
• 1:00:02
  I'm like, just use Bitcoin, man. You know, like just go straight
• 1:00:05
  to Bitcoin. Yes, the volatility may be hard
• 1:00:08
  for people to stomach. And again, maybe this is this is
• 1:00:10
  where Nico would chime in is like, check your financial
• 1:00:12
  privilege, bro. Like you're an American, you
• 1:00:14
  know, you're, you got the dollar.
• 1:00:16
  It's it's the best. Savings mechanism at all the
• 1:00:20
  Fiat shit coins and I'm like, yeah, yeah, I know, I know.
• 1:00:23
  But just like I want people to use Bitcoin and and that's what
• 1:00:25
  I'm here for is for people to use Bitcoin.
• 1:00:27
  Anyways, Mitchell, what's your thoughts on this story?
• 1:00:30
  Yeah, I pretty much agree with everything you guys said.
• 1:00:32
  I mean, I'm an American, so I have no need for tether.
• 1:00:34
  I can use cash app, Venmo, whatever.
• 1:00:37
  But I I'm also a little suspect, but the one kind of shining
• 1:00:41
  light for me with them is tethers partner with rumble and
• 1:00:44
  rumble has stood the test of time.
• 1:00:46
  They're they they are adamantly pro free speech.
• 1:00:50
  They've proven that it's not just talk.
• 1:00:51
  You know, Elon talks a big game, but there's certain things you
• 1:00:54
  can and cannot say on X. But rumble anything goes.
• 1:00:58
  It's it's a total free speech platform.
• 1:01:01
  I'm a huge fan. I know this stream is going on
• 1:01:02
  to rumble right now. And so the fact that they
• 1:01:04
  partner with tether to me gives, you know, some kind of hope for
• 1:01:07
  tether. But I, I definitely am a little
• 1:01:09
  suspicious. I mean, they're climbing the
• 1:01:11
  leaderboards in terms of U.S. Treasury buyers that I think at
• 1:01:15
  some point they they may single handedly save the the entire
• 1:01:19
  bond market. We'll see at least on the short
• 1:01:20
  end. But yeah, I think it's, I'm not
• 1:01:24
  sold one way or the other on Tether.
• 1:01:25
  I know some people hate them, some people love them.
• 1:01:27
  I'm kind of indifferent. Yeah, but I mean, I think the
• 1:01:30
  point remains the same though, whether you love or hate Tether
• 1:01:34
  as a Bitcoiner, we are seeing that the European Union is not
• 1:01:38
  only terrified of Bitcoin, but they're also terrified of
• 1:01:42
  Tether. And that might be some signal
• 1:01:43
  there that might be something, you know, a thread to pull on
• 1:01:47
  moving forward. If if the ECB, you know, if you
• 1:01:50
  know, ex-girlfriend Christine Lagarde doesn't like Tether,
• 1:01:52
  then I might just have to become a pro Tether guy because hey, if
• 1:01:55
  there's, if she, if Tether's scaring her, it might be a
• 1:01:58
  better, better thing than any of us are really thinking about.
• 1:02:01
  There might be a 5D chess move here being being a little bit
• 1:02:03
  charitable here. Anyways, guys, we are going to
• 1:02:06
  chat with our boy Mitchell Hoddle, one of the best zoomers
• 1:02:09
  in the game. I would argue and talk about the
• 1:02:12
  company's working on. And actually we're going to have
• 1:02:14
  some updates for you guys in, in regards to the trade wars going
• 1:02:18
  on and how this is going to relate to the Bitcoin mining
• 1:02:22
  industry. So I'm, I'm really excited for
• 1:02:24
  this. Let's get to that.
• 1:02:27
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• 1:02:41
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• 1:02:48
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• 1:02:52
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• 1:02:54
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• 1:02:57
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  today. All right, boys and girls.
• 1:04:29
  Well, Mitchell, thank you for showing up today.
• 1:04:32
  Great takes on the show. But before we get into, you
• 1:04:35
  know, some of the some of the newer developments in the mining
• 1:04:38
  space, let's just do a quick elevator pitch of what is block
• 1:04:41
  Ware solutions. Why should people go to you
• 1:04:45
  guys? Why should people be mining?
• 1:04:47
  And then we'll talk about kind of the different factors playing
• 1:04:49
  out right now. Yeah, happy to talk about this,
• 1:04:52
  Opti. So blockware is a mining as a
• 1:04:55
  service provider. So if you were to plug an ASIC
• 1:04:58
  in at your house, which an ASIC is a Bitcoin miner, as I'm sure
• 1:05:01
  a lot of your listeners know, you would probably not be able
• 1:05:03
  to mine profitably unless you live in the middle of nowhere
• 1:05:06
  and your power rates are extremely low.
• 1:05:09
  Chances are it's going to cost you north of a hundred, a 150K
• 1:05:12
  per Bitcoin to mine. So totally unprofitable for most
• 1:05:15
  people at home. Plus, nobody wants to handle the
• 1:05:18
  heat and the noise and all the setup.
• 1:05:20
  And so blockware offers solution to those problems where we have
• 1:05:24
  data centers and really remote locations across the United
• 1:05:26
  States and we plug machines in on behalf of Bitcoin miners so
• 1:05:30
  they can mine at low electricity rates and without doing any of
• 1:05:33
  the work themselves. Love it bro, Appreciate it.
• 1:05:37
  OK, now I think before we go into the stuff, it just popped
• 1:05:41
  in my head. I, I told you I was going to do
• 1:05:43
  any curveballs here, but hosting mining has had a bad, bad
• 1:05:47
  reputation in the last couple years.
• 1:05:49
  I think it's fundamentally changing and people are, are
• 1:05:52
  starting to see the, the actual use case of this.
• 1:05:54
  So for those people with concerns about hosting, mining
• 1:05:58
  with you guys or even just in general, what would be your take
• 1:06:01
  away from that? Yeah, that's a very reasonable
• 1:06:04
  question to ask because there have been some bad shady
• 1:06:06
  operators in the hosted mining space.
• 1:06:08
  And so some of the issues you've seen in the past are
• 1:06:11
  transparency lead times, setting up machines or facilities in in
• 1:06:17
  terrible places in the across the world.
• 1:06:20
  And so block where we've tried to work our our best to solve a
• 1:06:22
  lot of those problems and I think we've done a really great
• 1:06:24
  job. So the first one is
• 1:06:26
  transparency. Obviously with Bitcoiners, don't
• 1:06:29
  trust verify is a core ethos. And so with hosted mining, you
• 1:06:33
  are trusting an operator to run a miner on your behalf.
• 1:06:36
  And so we've created a product, it's called the block where
• 1:06:39
  marketplace and it allows you to see miners online, see their
• 1:06:44
  hash rate, their revenue, their energy consumption before you
• 1:06:47
  actually make a purchase. So you can see on the left side
• 1:06:51
  of the the dashboard there it tells you which which state that
• 1:06:54
  machines plugged in. So KY is Kentucky, GA is
• 1:06:57
  Georgia, TX is Texas. We've got a variety of different
• 1:06:59
  sites. And if you click on one of these
• 1:07:01
  machines, it'll take you to a dashboard, You can see its
• 1:07:04
  historical hash rate over the last 30 or so days.
• 1:07:07
  You can see how much Bitcoin it's mined.
• 1:07:09
  And this is all before you actually make a purchase.
• 1:07:11
  So you're not buying some sketchy miner that might get
• 1:07:14
  plugged in at some point, might not, You know, it's online right
• 1:07:17
  now. And so we also eliminate lead
• 1:07:19
  times because time is money. And there was a huge problem
• 1:07:23
  during the last having epoch where people would buy a minor
• 1:07:26
  from one of these hosts and the minor wouldn't come online for
• 1:07:29
  three or four months. Now, a lot of that was global
• 1:07:33
  supply chain problems. There was no matter, no matter
• 1:07:36
  what you were ordering in any industry, things were delayed.
• 1:07:38
  But with Bitcoin mining, you don't want to do that, right?
• 1:07:40
  Because you want to be mining during the bull markets.
• 1:07:42
  You don't want to miss, you know, some of those crucial
• 1:07:44
  windows of profitability. And so with the marketplace, you
• 1:07:47
  could buy a miner that's already online and all, right, so you
• 1:07:51
  may say, well, it's a used miner.
• 1:07:52
  Like how do I know it's actually good?
• 1:07:54
  Well, on the marketplace, you can see the serial number of the
• 1:07:56
  machine. You can check with the
• 1:07:57
  manufacturer to see if it's still under warranty.
• 1:08:00
  You can see the exact date it was plugged in.
• 1:08:02
  So some of these miners are quote UN quote used, but they've
• 1:08:05
  only been plugged in and running for basically a week or a month
• 1:08:08
  or whatever. And so at block where we've
• 1:08:11
  solved a lot of the problems that have plagued host of mining
• 1:08:13
  before. And I, I think, you know,
• 1:08:16
  obviously I'm biased, but I think we, we're the best partner
• 1:08:18
  if you want to actually mine Bitcoin, but you don't want to
• 1:08:20
  have to do any of the work yourself.
• 1:08:22
  Love it man. And and again, another question
• 1:08:25
  that just popped up. Not trying to do curveballs
• 1:08:27
  here. And of course, a biased answer.
• 1:08:30
  We're all biased here. Well, at least we're all we're
• 1:08:32
  honest about our biases. Is now a good time to be mining
• 1:08:36
  Bitcoin? I know the hash rate's
• 1:08:37
  exploding. I like me and Chris were kind of
• 1:08:40
  joking about it earlier. I know a lot of friends that,
• 1:08:43
  you know, went really, really deep into mining and where me
• 1:08:46
  and Chris were just like, I'm just so glad I stacked Bitcoin.
• 1:08:49
  So from someone more on the inside, is now a good time to,
• 1:08:53
  you know, get a contract with you guys?
• 1:08:55
  Like what? What's your thinking here?
• 1:08:58
  It certainly depends on your risk profile, and I'll kind of
• 1:09:02
  unpack this in a few different ways.
• 1:09:03
  So when you are mining Bitcoin, we like to compare to investing
• 1:09:09
  in real estate. And when you buy real estate,
• 1:09:11
  you're not buying real estate because you want real estate per
• 1:09:14
  SE. You want something that you can
• 1:09:17
  do accelerated depreciation and write off capital gains taxes.
• 1:09:21
  You want cash flow and you want a hard asset.
• 1:09:23
  Bitcoin mining's the same way. So one advantage of mining
• 1:09:26
  Bitcoin versus buying Bitcoin yourself is you could do what's
• 1:09:29
  called accelerated depreciation on your minors.
• 1:09:32
  So you can depreciate the entire book value of the minor in a
• 1:09:36
  single year. So if it's, you know, the year
• 1:09:38
  end is rolling around, you've got a lot of capital gains and
• 1:09:40
  you want to offset them, you can buy some minors, depreciate
• 1:09:43
  them. I'm not an accountant so
• 1:09:45
  obviously double check with your accountant and your finance guy,
• 1:09:48
  but that's one reason some of our clients mind.
• 1:09:50
  Love it. Yeah.
• 1:09:51
  Oh, keep going. Because it's a Bitcoin
• 1:09:53
  accumulation strategy. And so the idea with mining is
• 1:09:56
  if you think the Bitcoin price over the next 12 to 24 to 36
• 1:10:01
  months is going to grow faster than the hash rate, then you
• 1:10:04
  should be mining because that means your profit margins as a
• 1:10:07
  miner will expand. And over time, by producing
• 1:10:11
  Bitcoin at an important point, you can make up for the actual
• 1:10:14
  upfront cost of the machine. And so I view mining through
• 1:10:18
  kind of windows, right? You have, you obviously have the
• 1:10:20
  halvings every four years in the earlier you can start mining
• 1:10:23
  during one of those windows, the better off you're going to be.
• 1:10:25
  And so we have three years until the next having and I'm pretty
• 1:10:29
  convinced that the Bitcoin price is going to go up significantly
• 1:10:31
  over the three years. I, you know, think anywhere from
• 1:10:34
  200 to 400 to 600 K to even a million, you know, pick your
• 1:10:38
  pick your bullish price target, take any of those.
• 1:10:41
  And do you think mining difficulty can grow at the same
• 1:10:44
  rate? I don't see it because for the
• 1:10:46
  Bitcoin price to go up, it can take one or two big buyers,
• 1:10:49
  right? It can take, you know, it's just
• 1:10:51
  a marginal change in supplier demand can cause a Bitcoin price
• 1:10:54
  to go up. 3050, a 100% in a very short period of time.
• 1:10:58
  We saw twice in 2024, we saw a jump from 40K to 60K in about a
• 1:11:02
  month. And we saw a jump from 60K to
• 1:11:04
  about 100K in the span of two months.
• 1:11:06
  And so these very quick windows of Bitcoin price appreciation,
• 1:11:10
  you can't see that same growth rate in mining difficulty.
• 1:11:13
  Now why is that? Well, because unlike the Bitcoin
• 1:11:15
  price, which can move very quickly at the margin to
• 1:11:19
  actually increase mining difficulty, to increase the
• 1:11:21
  total hash rate on the network, you have to build data centers,
• 1:11:25
  you have to R&D new machine, new machine chips, you have to
• 1:11:29
  manufacture them and ship them over from Asia to the United
• 1:11:32
  States. You have to produce power, you
• 1:11:34
  have to actually get the machines plugged in.
• 1:11:35
  It's it's a long process and you see historically you've seen a
• 1:11:40
  lag. So you'll see the Bitcoin price
• 1:11:42
  go way up. Mining becomes a lot more
• 1:11:45
  profitable, so miners or investors rather, they'll rotate
• 1:11:49
  their exposure rather than buying spot Bitcoin into ASICS
• 1:11:52
  and mining infrastructure and energy production.
• 1:11:55
  But it's not until a year or 18 months after that fact that you
• 1:11:59
  see hash rate really start to rise.
• 1:12:01
  Like in 2023 you saw hash rate rise a lot, but that was on the
• 1:12:05
  back of 2021 and 2022, the Bitcoin price going up.
• 1:12:09
  So I think you're if you're bullish on Bitcoin over the next
• 1:12:12
  12 to 24 to 36 months, then mining is a great way to kind of
• 1:12:16
  get that additional exposure. And I think we're moving past
• 1:12:19
  the point of, you know, if you're a Bitcoin or like unless
• 1:12:22
  it's all cold storage in a in a cold car tucked away into your
• 1:12:25
  mattress, like, yeah, that's not the only view right now.
• 1:12:28
  You've got other other ways to kind of get Bitcoin exposure.
• 1:12:31
  You've got you've got that cold storage Bitcoin, which should be
• 1:12:33
  the crux of people savings. I hold a wholeheartedly agree
• 1:12:36
  with that. But you've also got
• 1:12:38
  MicroStrategy, you've got ibit, you've got Msty, you've got a
• 1:12:42
  bunch of different products. And so if you're trying to build
• 1:12:44
  a Bitcoin ICE portfolio, I think mining is a great asset to have
• 1:12:48
  in there, owning the physical ASICS because their prices can
• 1:12:51
  be correlated to Bitcoin. And on top of that, you're
• 1:12:54
  actually accumulating Bitcoin into your cold storage all the
• 1:12:56
  time, right? The point of buying something
• 1:12:58
  like a MicroStrategy or a metaplanet is you're hoping to
• 1:13:01
  outperform Bitcoin. Now the problem is you have to
• 1:13:05
  sell for cash, take capital gains, and then ultimately buy
• 1:13:08
  Bitcoin and send it to your cold storage before you're actually
• 1:13:10
  quote UN quote realizing those Bitcoin gains.
• 1:13:13
  But with mining, you're constantly sending Bitcoin into
• 1:13:16
  cold storage so you can outperform over a long term,
• 1:13:19
  while also everyday you're actually increasing your cold
• 1:13:22
  storage stack. Does that make sense?
• 1:13:24
  Yeah, it totally does. Totally does.
• 1:13:27
  Chris, you said you wanted to pop in here.
• 1:13:28
  Yeah, I have two questions for you, Mitch.
• 1:13:30
  So they're kind of unrelated, but they're both related to, I
• 1:13:33
  guess your business. So do customers have to worry
• 1:13:35
  about power contracts? Like let's just say, you know,
• 1:13:37
  they lock in for a term and then let's just say the power
• 1:13:40
  provider, you know, one of the main imports or the main thing
• 1:13:43
  aside from the cost of the ASIC and maybe space is basically the
• 1:13:46
  cost of power. So let's just say, you know, the
• 1:13:49
  power providers like, hey, it's a 5% increase in fees because of
• 1:13:52
  XY and Z. So do me as a customer, if I was
• 1:13:55
  a customer for blocker, do I have to worry about?
• 1:13:56
  Our rates, great question. So with our clients at
• 1:14:00
  Blockware, we operate on a fixed power rate.
• 1:14:02
  So you can sign a contract for 1-2 or three years typically
• 1:14:07
  from 7 to 8 cent per kWh. And for reference, the average
• 1:14:11
  retail rate in the United States is about $0.16 per kWh.
• 1:14:14
  So your power cost is going to be cut in half mining with
• 1:14:17
  Blockware versus mining with, you know, just at home by
• 1:14:20
  yourself. But what's interesting is you're
• 1:14:22
  not actually locked in quote, UN quote for the entire duration of
• 1:14:25
  the contract to the block room marketplace, which we were
• 1:14:28
  mentioning earlier. All of our clients have access
• 1:14:30
  to that to sell their machine at any time.
• 1:14:33
  And so this allows you to mine without having that long term
• 1:14:37
  commitment. But more importantly, you can
• 1:14:39
  capitalize on volatility in machine prices.
• 1:14:43
  And for example, in 2021, we saw the price of the most popular
• 1:14:47
  miner at the time, the S 19, it increased 10X from March 2020 to
• 1:14:52
  April of 2021. But there was no way to get
• 1:14:55
  liquidity on that because you could unplug the machine at your
• 1:14:58
  site and mail it to someone else and like it just, it was just
• 1:15:01
  hard to do deals, right. But with block Ware, you can
• 1:15:03
  sell your machine as well as the bundled energy contract with
• 1:15:07
  that on our marketplace. So if we saw a similar price
• 1:15:10
  action in the ASIC market over the next over the coming years,
• 1:15:14
  you can buy a machine now, mine with it for a little bit and
• 1:15:16
  then sell it at A at a profit later in the future.
• 1:15:20
  All right, that's cool. And then two more follow up
• 1:15:22
  questions here. Can users or customers pay for
• 1:15:25
  their contracts in Bitcoin or Lightning?
• 1:15:27
  And then also is there a component that can they do this
• 1:15:30
  basically KYC free or KYC Lite with only an e-mail or an
• 1:15:33
  account? To your last question, I will
• 1:15:36
  plead the 5th between the lines depends on how many machines
• 1:15:42
  you're buying, but that I'll leave it at that.
• 1:15:44
  The marketplace you could buy with Bitcoin on chain Lightning
• 1:15:48
  is coming very, very soon. We're actually, it may be out
• 1:15:51
  already, if not in the very near future.
• 1:15:53
  We've been working with a partner to get to get Lightning
• 1:15:55
  payments rolling because I'm a huge fan of Lightning.
• 1:15:58
  I think that's one of going to be what really elevates Bitcoin
• 1:16:00
  to be a more popular medium of exchange.
• 1:16:03
  And then you can also convert your crust nasty dirty nasty
• 1:16:05
  Fiat into Bitcoin miners as well.
• 1:16:08
  Love it. Thanks.
• 1:16:09
  Yeah, that's it. You got any?
• 1:16:11
  Questions. Yeah.
• 1:16:12
  Yeah. Well, I think that was a great
• 1:16:14
  overview of blockware. But I think what a lot of us
• 1:16:16
  Bitcoiners are trying to wrap our head around is not only how
• 1:16:20
  the tariff trade war is affecting, you know, markets and
• 1:16:23
  the prices, but seemingly it's going to affect, you know,
• 1:16:27
  shipping ASICS to the US because they're mainly coming out of
• 1:16:31
  China. So what's your take on how this
• 1:16:34
  trade war will affect in fact the ASIC market and not so much
• 1:16:37
  just like the general money markets?
• 1:16:39
  Great question. So I will put a caveat on there.
• 1:16:43
  All of the manufacturers are headquartered in China, but they
• 1:16:46
  do what's called near shore manufacturing.
• 1:16:48
  So they'll, they'll make the machines in Malaysia or Thailand
• 1:16:51
  or Indonesia and that will be the label on the shipping.
• 1:16:56
  So, but there's still tariffs on those countries, right?
• 1:16:58
  So it's, there is still some effect that the tariffs on those
• 1:17:01
  countries in particular ranges from I think 24 to 34%.
• 1:17:04
  So that's going to have a noticeable impact because the
• 1:17:07
  Bitcoin mining industry, like you alluded to, it's, it's kind
• 1:17:10
  of fragmented. You have one core component of
• 1:17:12
  the industry, which is manufacturers.
• 1:17:14
  They're all in Asia. And then the majority of the
• 1:17:16
  site operators are in the United States, like well over a third
• 1:17:20
  of the total hash rate is in the United States.
• 1:17:22
  And so having this tariff of course is going to impact those
• 1:17:26
  US based Bitcoin miners. And we're already starting to
• 1:17:29
  see prices adjust upward. And I mentioned before that time
• 1:17:33
  is money. And ultimately what this is
• 1:17:36
  heading towards is miners that have machines right now in the
• 1:17:40
  United States, they're not overseas.
• 1:17:43
  Those machines are going to have an even higher premium.
• 1:17:46
  So they already have a premium. If you can buy Mac miners from a
• 1:17:49
  broker or a facility that's here in the United States, it's going
• 1:17:53
  to be quicker than ordering directly from the manufacturer
• 1:17:57
  and having it shipped overseas. Plus you have just the
• 1:17:59
  uncertainty like could it take a month?
• 1:18:01
  Could it take three months? Sometimes bit main and and micro
• 1:18:04
  BT, they're a little finicky with their delivery times.
• 1:18:06
  So miners will pay a premium to get machines that are already in
• 1:18:09
  the United States, But that premium is going to expand now
• 1:18:13
  that you have these tariffs because that's going to be an
• 1:18:14
  additional cost on the front end for for the brokers, as well as
• 1:18:18
  just make it more, more beneficial to buy miners that
• 1:18:21
  are already here in the United States.
• 1:18:23
  So I think that's something we're we're definitely going to
• 1:18:25
  be keeping an eye on. And then the, the second point
• 1:18:28
  to that is I think difficulty, the growth rate is going to slow
• 1:18:32
  down because if miners are more hesitant to order machines from
• 1:18:36
  the manufacturers, ultimately downstream, we're going to see
• 1:18:39
  fewer machines getting plugged in over the coming 12 to 24
• 1:18:43
  months, which makes the bull case I talked about earlier
• 1:18:46
  where the Bitcoin price outpaces growth in difficulty.
• 1:18:50
  That could be more of even more pronounced if we see this sort
• 1:18:53
  of slow down, which we've seen historically.
• 1:18:56
  Everybody likes to point to the, you know, hash rate makes new
• 1:18:59
  all time highs, which it does. But if you look at it in log
• 1:19:02
  scale or even just based on each having epoch, hash rate is not
• 1:19:06
  growing nearly as much as it used to.
• 1:19:07
  In the the 2012 to 2016 cycle, hash rate grew by like
• 1:19:12
  1,000,000% something ridiculous. And then in the 2020 to 2024
• 1:19:16
  epoch it grew by about 500%. And so I think overall we're
• 1:19:20
  going to see yeah, if I don't know if this chart he will show
• 1:19:23
  in log scale. So here for the audio listeners,
• 1:19:26
  I have the hash rate in linear terms and then you can pull it
• 1:19:29
  in log if you haven't seen this and this is what Mitchell's
• 1:19:32
  talking about. Right.
• 1:19:33
  And you can see clearly here it it's flattening out over time.
• 1:19:36
  And so that that really for me is the bull case for Bitcoin
• 1:19:39
  mining over sort of an intermediate time frame, you
• 1:19:42
  know, a year to two to three years.
• 1:19:44
  Is that Bitcoin when price is going to go up, but hash rate as
• 1:19:46
  you can see it's it's not going to be able to increase nearly as
• 1:19:48
  much. Yeah, that's that's a great,
• 1:19:51
  great insights, dude. Also, I've been seeing a lot of
• 1:19:55
  different metrics here but and I know I know bit info has like I
• 1:20:00
  think this is using like some kind of like moving average on
• 1:20:04
  the hash rate. But we're seeing that the
• 1:20:07
  Bitcoin hash rate is over a Zeta hash now.
• 1:20:09
  Like how, how, how, like how big do you think the hash rate will
• 1:20:15
  increase in the next couple of years?
• 1:20:17
  You, like you said, it's kind of tabling, you know, tapering off
• 1:20:20
  here. Do you see that, that we will
• 1:20:22
  see in, in like an extreme increase in, in hash rate?
• 1:20:27
  Like do you think we'll get the two Zeta hashes like by next
• 1:20:29
  year? Or like how, how do you think
• 1:20:31
  this process is going through? Because this doesn't affect the
• 1:20:34
  hash price for people that are mining out there.
• 1:20:36
  And like you're saying, if we do see less ASICS hit the market,
• 1:20:40
  you know, we might, they might be seeing, you know, a very
• 1:20:43
  strong taper on hash rate increasing.
• 1:20:46
  Great question. So I will firmly and adamantly
• 1:20:50
  stay, no, we're not at a Zeta hash because you have to look at
• 1:20:54
  hash rate through moving average.
• 1:20:55
  So the way the Bitcoin blockchain works is it's almost
• 1:20:59
  random, right? Miners are simply guessing and
• 1:21:01
  checking a gajillion times every single second.
• 1:21:04
  And sometimes you find blocks really, really fast.
• 1:21:06
  And so if you're not looking at a moving average, you could see,
• 1:21:09
  you know, a block could get found 2 seconds after the
• 1:21:11
  previous block and people could point to it and say, oh, look,
• 1:21:13
  the hash rate, you know, quadrupled over the last day.
• 1:21:16
  Like, no, that actually didn't happen.
• 1:21:18
  It's just, you know, random block variation.
• 1:21:19
  And so when you look at hash rate over a 14 or 30 day moving
• 1:21:23
  average, that there's moments of randomness basically get
• 1:21:26
  smoothed out. And so I, I just put it up here
• 1:21:29
  on a 30 day moving average hash rates at 876 XA hash.
• 1:21:35
  So we're not far off from the coveted one Zeta hash.
• 1:21:38
  And I do believe we'll, we'll likely get it this year, maybe
• 1:21:42
  slightly into next year because you think about all the mining
• 1:21:46
  infrastructure that's already been built, all the machines
• 1:21:48
  that have already been plugged in, we're talking gigawatts upon
• 1:21:51
  gigawatts of energy. Increasing that by 10% is not a
• 1:21:54
  small task, right? Versus the Bitcoin price can
• 1:21:56
  increase 10% overnight. To plug in 10% additional
• 1:22:01
  machines and produce 10% additional energy is going to be
• 1:22:06
  kind of a a challenge. It's going to require real, real
• 1:22:08
  worlds inputs. So to that point, I, I think
• 1:22:11
  we'll see one Zeta hash sometime in the near future, sometime
• 1:22:14
  before the next having. But then getting to that second
• 1:22:17
  Zeta hash and that third Zeta hash, could you know it?
• 1:22:19
  It could take some time. Got it, Love it, love it.
• 1:22:22
  Great insights. Actually, one last question
• 1:22:24
  before we wrap this up, considering we are entering like
• 1:22:27
  a whole new global paradigm here.
• 1:22:29
  I know you've probably been on top of this new story, but we
• 1:22:32
  are hearing a bunch of rumors come out of, you know, China and
• 1:22:35
  Russia not only settling oil, you know, transactions in
• 1:22:39
  Bitcoin. But there was also a new story,
• 1:22:41
  I believe it was this week essentially from Jeffrey saying
• 1:22:44
  that they are starting to incentivize or at least talk
• 1:22:48
  about more domestic mining, you know, operations in China or
• 1:22:52
  Russia. How do you think this affects
• 1:22:54
  the the global hash rate or even just for minor profitability in
• 1:22:58
  the US? Yeah, it's a bit of a double
• 1:23:01
  edged sword because China and Russia plugging in new miners,
• 1:23:05
  it's going to make difficult to go up.
• 1:23:07
  But on the other hand, if they're plugging in miners with
• 1:23:10
  free power sites operated by slave labor, not to laugh about
• 1:23:14
  it, but like that's genuinely what you'd be competing against.
• 1:23:17
  If they're doing that, then chances are they're not having
• 1:23:19
  to sell a lot of the Bitcoin that they mine.
• 1:23:21
  So that's going to be positive for the Bitcoin price.
• 1:23:24
  And so I think it's inevitable. I mean, I'm, I'm convinced right
• 1:23:28
  now we have multiple nation states mining.
• 1:23:30
  It's, I feel like that's, that's pretty obvious at this point.
• 1:23:33
  And China and Russia specifically, there are big
• 1:23:37
  countries that got a lot of natural resources.
• 1:23:39
  They're obviously in direct competition with the United
• 1:23:41
  States right now in terms of a financial sense.
• 1:23:44
  And so it makes sense that they're settling some amount of
• 1:23:47
  trade in Bitcoin because gold, while it's it's pumping right
• 1:23:51
  now and the price is doing well, it's very impractical to use as
• 1:23:54
  a medium of exchange. You have to authenticate that
• 1:23:58
  the person you're doing business with or the country you're doing
• 1:24:01
  business with is giving you real gold and not fake gold.
• 1:24:03
  And it's difficult to move, it's heavy.
• 1:24:05
  It's hard to secure all of the things that make gold good and a
• 1:24:09
  neutral non sovereign money Bitcoin does 100 times better.
• 1:24:12
  And so over slowly over the next couple of years, I think we'll
• 1:24:16
  see more, more countries settling trade in Bitcoin and
• 1:24:19
  more countries mining Bitcoin. Love it, man.
• 1:24:22
  Well, did again. One of my favorite zoomers
• 1:24:25
  coming on here. Just with all the sauce here,
• 1:24:28
  Mitchell. So just to wrap up the show,
• 1:24:31
  let's do you know, final message, Mitch.
• 1:24:33
  It could be about Bitcoin, it could be about mining with
• 1:24:36
  blockware, whatever you want. Final message.
• 1:24:38
  What's the last thing you want to leave with the audience?
• 1:24:42
  Stay humble and stack sats. I'm going to copy Matt Odell.
• 1:24:45
  It's over the last month, I've seen so many people flip bearish
• 1:24:49
  like on the on the turn of a hat.
• 1:24:51
  And so just keep a long time horizon, think in multiple year
• 1:24:54
  time frames and accumulate as much Bitcoin as you can.
• 1:24:57
  And if you want to mind with block Ware and go to
• 1:24:59
  blockwaresolutions.com. We actually just revamped our
• 1:25:02
  website at launch today. So it should look look a lot
• 1:25:05
  sexier than if you've been there before.
• 1:25:06
  So yeah, you can follow me on Twitter at Mitchell Hodel and
• 1:25:09
  happy to talk Bitcoin anytime. Let's go, man.
• 1:25:12
  And also, you know what? We'll do a plug go go get
• 1:25:15
  Mitchell's book What's the Conservative Case for Bitcoin?
• 1:25:18
  That's right. The conservative case for
• 1:25:19
  Bitcoin published before Trump was pro Bitcoin, by the way.
• 1:25:23
  So I, I, I had the foresight to see that the right wing was
• 1:25:26
  going to embrace Bitcoin. I still think we're early in
• 1:25:28
  that those days and in none of the states that have introduced
• 1:25:31
  Bitcoin strategic reserves have passed it yet.
• 1:25:33
  But I do think that's coming and I think that's something people
• 1:25:36
  have forgotten about is that we're going to see multiple
• 1:25:38
  states across the country start to develop their own Bitcoin
• 1:25:40
  positions. And politics moves slow.
• 1:25:42
  It's a, it's a turtle, not a hare.
• 1:25:44
  So I think maybe that'll happen this election cycle, maybe it'll
• 1:25:47
  be the next, but over the next 10 years we're going to have a
• 1:25:49
  lot of states with with a decent bit sized Bitcoin position.
• 1:25:53
  Yeah, and, and also kudos to you bro, cuz when you did release
• 1:25:56
  that book, we brought you on the show and it was still like a
• 1:25:59
  spicy topic at that point. And in hindsight it's like wow,
• 1:26:03
  you know, 2020 hindsight. Like yeah, of course I was
• 1:26:05
  right. Like it was, it's so obvious
• 1:26:07
  then. So, yeah, kudos to you again.
• 1:26:09
  Wanna wanna, I wouldn't say up and coming bit corners, but one
• 1:26:13
  of the zoomers that's really dominating out there.
• 1:26:15
  So love to see your work, Mitch. And also Chris, I'll do the same
• 1:26:18
  thing. You know, I think everyone's
• 1:26:19
  familiar with you at this point on the show, but you want a
• 1:26:22
  final message before I wrap up today's show.
• 1:26:25
  I, I don't want to steal Mitch's message because I always stay,
• 1:26:27
  stay, stay humble and stack sats.
• 1:26:29
  But I, I will echo that sentiment.
• 1:26:31
  I'll say build strong families, strong communities, you know,
• 1:26:35
  try and give back your time and sats to, for those in need.
• 1:26:38
  You also, the best thing that you can give back is your time
• 1:26:41
  because it's truly the only thing that's scarcer than
• 1:26:43
  Bitcoin. So I'd say go out there,
• 1:26:45
  volunteer, give, donate money to open SAT's or to the PDP Rights
• 1:26:49
  Foundation as the Samurai devs fight their case, as well as a
• 1:26:53
  couple other court cases that we've talked about in the past.
• 1:26:56
  So yeah, just build strong families, strong communities and
• 1:26:58
  donate your time. Love it, man.
• 1:27:00
  Some words of wisdom. All right, guys, before I roll
• 1:27:03
  out today's show, though, we do want to plug the Bitcoin
• 1:27:07
  conference 2025 in Vegas. We are taking over Las Vegas.
• 1:27:11
  We are embracing the game theory.
• 1:27:13
  There's going to be some great speakers there.
• 1:27:15
  The whole Simply Bitcoin team will be down there.
• 1:27:18
  So make sure you scan the QR code.
• 1:27:20
  Get your ticket today, guys. It's what less?
• 1:27:22
  It's about a month and five days away.
• 1:27:25
  Everyone always sees the FOMO. They start to feel the FOMO once
• 1:27:28
  the conference week comes up. Get your ticket today, get where
• 1:27:32
  you're going to stay. We are going to take over the
• 1:27:34
  Venetian. I'm I'm super excited to see
• 1:27:36
  what the Bitcoin mag team, the Bitcoin conference team pulls
• 1:27:39
  together this year. It's always bigger and better
• 1:27:42
  than the last year. So scan the QR code.
• 1:27:44
  Use simply all caps to get a 10% discount.
• 1:27:47
  On that note, guys, this was simply Bitcoin episode.
• 1:27:52
  I think 12:28. I believe this is April 22nd.
• 1:27:57
  Here, let me let me pull you guys off the screen and I'll
• 1:27:58
  roll this one out hang out for a second as I wrap this up.
• 1:28:01
  All right guys, it's your boy Opti Nikko will be gone till I
• 1:28:05
  think Friday. He's in El Salvador doing I
• 1:28:09
  think you guys are going to love it.
• 1:28:10
  A really awesome interview. I I still yet to know how big of
• 1:28:14
  an interview it's going to be. It might be a series.
• 1:28:17
  It might only be Rumble exclusive, I don't know yet.
• 1:28:20
  We don't know how it's going to work out, but I'm telling you,
• 1:28:22
  you guys are going to love this and San Diego's going to be gone
• 1:28:25
  until Friday, I believe. So you're stuck with me guys.
• 1:28:28
  Let's let's just make it through the week.
• 1:28:31
  And last thing I want to plug guys, make sure you go to
• 1:28:33
  simplybitcoin.com and at the top hit the tab blog.
• 1:28:36
  We are dropping some very good articles on our sub stack.
• 1:28:40
  They are a little more macro focus.
• 1:28:43
  I know we talk about Bitcoin constantly and so we are trying
• 1:28:46
  to drop some macro articles on you guys so you can kind of
• 1:28:49
  start to understand what's going on on the global landscape here.
• 1:28:53
  Most of them are Bitcoin centric, so they will wrap
• 1:28:56
  Bitcoin into it, but it is trying to wrap our heads around,
• 1:28:59
  you know, what's going on with the trade wars, what's going on
• 1:29:02
  with you know, potential monetary reset, etcetera,
• 1:29:05
  etcetera. We've been dropping a lot of
• 1:29:06
  heat on our sub stack. Go sign up, make sure you are
• 1:29:10
  signing up to it. It hits your mailbox.
• 1:29:12
  We're trying to do one to two a week.
• 1:29:14
  Every Monday you should get one kind of dropped, two a week,
• 1:29:17
  something like that, but we are dropping a lot of articles.
• 1:29:20
  Don't sleep on that. All right, boys and girls, on
• 1:29:22
  that note, your boy Opti, go outside, touch some grass, get a
• 1:29:25
  workout in, eat some good food, call your loved ones, all that
• 1:29:29
  good stuff. As we always say, stay humble,
• 1:29:31
  stack sad, stay solvent. We are seeing the Bitcoin price
• 1:29:34
  start to move. Now is not the time to get
• 1:29:38
  emotional and lose your stack. So we'll see you tomorrow.
• 1:29:41
  I'll be back tomorrow. On that note, peace out.
• 1:29:45
  Today's episode was brought to you by bitcoinwell.com, a
• 1:29:49
  Bitcoin only platform on a mission to enable financial
• 1:29:52
  independence.