Latest / Simply Bitcoin / Is Coinbase and Blackrock Suppressing Bitcoin’s Price? | EP 1076

Transcript

Is Coinbase and Blackrock Suppressing Bitcoin’s Price? | EP 1076 · Simply Bitcoin

• 0:21
  Bringing down prices and making life more affordable for people.
• 0:25
  What are one or two specific things you have in mind for
• 0:28
  that? Well, I'll start with this.
• 0:31
  I grew up a middle class kid. My mother raised my sister and
• 0:35
  me. She worked very hard.
• 0:38
  She was able to finally save up enough money to buy our first
• 0:41
  house when I was a teenager. I grew up in a community of hard
• 0:46
  working people, you know, construction workers and nurses
• 0:50
  and teachers. And I try to explain to some
• 0:53
  people who may not have had the same experience, you know, if a
• 0:57
  lot of people will relate to this.
• 0:59
  You know, I grew up in a neighborhood of folks who are
• 1:01
  very proud of their lawn, you know, and, and I was raised to
• 1:09
  believe and to know that all people deserve dignity and that
• 1:16
  we as Americans have a beautiful character.
• 1:20
  You know, we have ambitions and aspirations and dreams, but not
• 1:25
  everyone necessarily has access to the resources that can help
• 1:30
  them fuel those dreams and ambitions.
• 1:33
  So when I talk about building an opportunity economy, it is very
• 1:38
  much with the mind of investing in the ambitions and aspirations
• 1:42
  and the and the incredible work ethic of the American people and
• 1:46
  creating opportunity for people. For example, to start a small
• 1:49
  business, my mother, you know, worked long hours and our
• 1:54
  neighbor helped raise us. We used to call her it was, I
• 1:57
  still call her our second mother.
• 1:59
  She was a small business owner. I love our small business
• 2:02
  owners. I learned who they are from my
• 2:04
  childhood. And she was a a community
• 2:08
  leader. She hired locally.
• 2:09
  She mentored our small businesses are so much a part of
• 2:13
  the fabric of our communities. Not to mention really I think
• 2:16
  the backbone of America's economy.
• 2:18
  So my opportunity economy plan includes giving startups a
• 2:24
  $50,000 tax deduction to start their small business.
• 2:29
  It used to be $5000. Nobody can start a small
• 2:31
  business with $5000. But investing in people's
• 2:35
  innovative ideas and giving them the ability to go for it.
• 2:41
  Opportunity economy economy means, look, we don't have
• 2:44
  enough housing in America. We have a housing supply
• 2:46
  shortage, and what that means in particular for so many younger
• 2:50
  Americans, the American dream is elusive.
• 2:53
  It's just actually not attainable.
• 2:56
  So part of my plan is to work with the private sector and
• 2:58
  housing developers to give them a tax credit to be able to
• 3:03
  partner with us as the government to build.
• 3:05
  And my goal is 3 million new homes by the end of my first
• 3:09
  term. In addition to help people who
• 3:12
  just want to get their foot in the door, literally.
• 3:16
  And so giving first time home buyers a $25,000 down payment
• 3:21
  assistance to be able to just get in the door.
• 3:25
  And then they will do the work that they need to do to save and
• 3:29
  to pay that mortgage and to build wealth for themselves and
• 3:33
  their family. These are some examples of what
• 3:35
  I mean when I talk about an opportunity economy.
• 3:37
  And a lot of it has to do with just the community I was raised
• 3:40
  in and the people that I, you know, I admired, who work hard,
• 3:47
  you know, and deserve to have, you know, their dreams fulfilled
• 3:50
  because they're prepared to work for.
• 3:52
  It good morning. You are watching Simply Bitcoin.
• 3:56
  I am your host Optimist Field and we have a great show for you
• 3:59
  guys. As you can hear from the cold
• 4:01
  open, we got an interview from Kamala this weekend and we got
• 4:05
  an incredible clip there coming out about what she would do
• 4:08
  about price increases. And the TLDR from all I heard,
• 4:12
  it just sounded like more money printing.
• 4:14
  And I am not alone here here and I will get Chris's take on this
• 4:18
  because he was talking about it earlier.
• 4:19
  But yes, the solution to lowering prices apparently is
• 4:24
  just printing more money or credit as she was saying.
• 4:27
  So absolutely incredible, incredible clip we're seeing
• 4:30
  there. The most interesting part about
• 4:33
  this is that I think a lot of people being economically
• 4:35
  illiterate would probably agree that yes, just give me some tax
• 4:38
  credit so I can start a business or so I can get a house without
• 4:41
  understanding the basic economics that that would most
• 4:43
  likely make prices go up in the future.
• 4:46
  Sure, but hey, let's not talk about it because they never talk
• 4:49
  about the real root problem, which is the creation of more
• 4:52
  money and debasing your values or the value of your dollar.
• 4:56
  Which is why we always say here at simply Bitcoin, you need to
• 5:00
  save in Bitcoin. Though I did troll a couple of
• 5:02
  weeks ago when I first heard this meme, the opportunity
• 5:06
  economy. I think we need to Co-op that
• 5:08
  meme because Bitcoin is the real opportunity economy.
• 5:12
  It's the only way you're going to get ahead and no amount of
• 5:15
  money printed is going to lower prices.
• 5:18
  And then of course, if if we really want to dive in on that,
• 5:21
  all of these things they can probably do today.
• 5:23
  She's been in power or you know, loosely in power for the last 3
• 5:26
  1/2 years. But hey, when she gets in power,
• 5:28
  she's going to fix things. Anyways, enough of clown world
• 5:31
  though. We do have another interesting
• 5:33
  moment in clown world this weekend.
• 5:35
  Apparently, you know, the first pro Bitcoin president had a
• 5:38
  second attempt on his life. So clown world is accelerating.
• 5:42
  It seems like the traditional financial world, the traditional
• 5:46
  clown world that we find ourselves in is crumbling in
• 5:48
  real time and it's just going haywire.
• 5:51
  And it's getting crazier and crazier as we move into the
• 5:54
  separation of money and state. But enough of clown world.
• 5:58
  We're here to talk about Bitcoin.
• 6:00
  As you can tell from the title, we got some rumors, big spicy
• 6:04
  rumors over the weekend about a potentially Coinbase and
• 6:09
  BlackRock coordinating to suppress a Bitcoin price that
• 6:13
  they are only receiving IO us to their Bitcoin for the ETF.
• 6:17
  So we'll cover all of that for you guys today on the show.
• 6:20
  Got some receipts here. You know you guys can say what
• 6:23
  you want about Coinbase. We'll we'll dive into this in
• 6:27
  the show. Obviously as a Bitcoiner, even
• 6:30
  though Coinbase does have a very small special place in my heart,
• 6:34
  that's where I first got my my very first bitcoins, we are
• 6:38
  still doubling down on the campaign of hashtag delete
• 6:41
  Coinbase. So if you are still using
• 6:43
  Coinbase, I would highly, highly suggest that you probably take
• 6:47
  your Bitcoin off that exchange. And next, I think one of the
• 6:50
  bigger news stories that we heard this morning was that
• 6:53
  Naibukele announced in a presidential, you know, talk, it
• 6:58
  was Independence Day in El Salvador.
• 7:00
  He did a speech and he announced that in 2025 they are going to
• 7:05
  go completely debt free banking system.
• 7:07
  They're not going to issue new debt.
• 7:09
  They're they're not even going to ask for loans.
• 7:12
  They are going to try to live within their means, improve
• 7:15
  production and we're going to go into that for you guys on the
• 7:17
  show. I do have a video for you.
• 7:19
  I, I do have it translated with some subtitles.
• 7:22
  So for you Spanish, non Spanish speakers, you know, I, I would
• 7:25
  kind of argue that I'm kind of in that cap as well.
• 7:27
  I bet I can barely speak English, let alone try to
• 7:31
  communicate in Spanish. I'm a little more of a Spanglish
• 7:34
  type guy. And then in the numbers guys, I
• 7:36
  got a very good clip coming out from Bitcoin mechanic, which is
• 7:39
  something I've been covering lately.
• 7:41
  Mark Goodwin and Whitney Webb have been covering lately.
• 7:44
  And it's this idea and we we talked about this a lot of why
• 7:48
  or whether governments will ban Bitcoin, can they ban Bitcoin
• 7:52
  and things to be concerned about.
• 7:54
  So we got a jam packed show for you guys today.
• 7:57
  And of course, I am not alone. I am here with the one and only
• 8:01
  Chris Alemo, good friend, all around, great Bitcoiner and just
• 8:05
  a nice guy, just a nice guy. So Chris, how you doing doing
• 8:07
  this morning and and tell me what you were telling me about
• 8:11
  the the credits idea and how it's just really bad economics
• 8:15
  in the first place? Yeah, what up, Opti?
• 8:17
  What up everyone? Happy to be here as always.
• 8:20
  I think kind of Opti and I were talking before the show started
• 8:23
  in basic economics or it always appears in history, whenever you
• 8:26
  print money or give people money or tax credits or all these
• 8:29
  things, normally prices bound up higher than what they were of
• 8:32
  the credits that you give. And there's a couple reasons for
• 8:35
  this. One, you're obviously eating
• 8:36
  demand way earlier. You're kind of pulling your
• 8:37
  future gains into the present. And then not only that, normally
• 8:42
  if you're a business owner, you have to account for one.
• 8:44
  Your demand or the supply that you have is shrinking because of
• 8:48
  the inflated demand, because of basically the inflated dollars.
• 8:51
  But then you also run into the issue of worrying about few
• 8:54
  their future moves of this happening.
• 8:56
  Oh, we gave you $2000 that wasn't enough.
• 8:58
  Or as Kamala Harris said, we gave you $5000.
• 9:01
  That's not enough. As far as stall this start a
• 9:03
  small business, we need to give you 50,000.
• 9:04
  Well, what about in four years or eight years?
• 9:06
  We need 100,000 to start a small business.
• 9:08
  So like these costs and pricing just continue to grow.
• 9:11
  Money printer go Burr and that means bitcoins going to move
• 9:14
  it's around the corner right off the.
• 9:16
  Let's go. Yes, and also rumor this week
• 9:20
  is, you know, we might get some interest rate cuts.
• 9:22
  So it does seem like perfect storm is on the horizon and we
• 9:28
  all know what happens. Bitcoin is going to moon soon
• 9:31
  and and again also I don't I don't have in the show, but I
• 9:33
  did see some great tweets coming out about like more of the
• 9:37
  Bitcoin cycle theory and apparently historically in
• 9:41
  regards to the Bitcoin cycles, the Bitcoin the leg up last leg
• 9:45
  of the bull run usually starts about 170 days after the halving
• 9:49
  and we're roughly around I. Think I saw 150.
• 9:52
  Yeah, we're like 1. 50, maybe 149 or something like that, so
• 9:57
  it's looking like what 20 more days or so and the price is
• 10:01
  going to start ripping. So if you aren't stacking
• 10:03
  Bitcoin right now, you probably should be.
• 10:05
  It's probably a good time to start allocating to your Bitcoin
• 10:08
  reserve strategy on a personal level, but we'll be covering
• 10:12
  that, you know, as the time comes on yes, as Briggs said
• 10:15
  soon moon, it is coming boys and girls soon enough All right
• 10:19
  guys, let's get into the show. Of course, first and foremost,
• 10:22
  big shout out to our lead sponsor Bitcoin.
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• 11:38
  show. Of course, once you take your
• 11:49
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• 12:38
  Bitcoin for a long jumping into the numbers.
• 12:43
  Of course, this is called the numbers.
• 12:45
  I'm over here on Clark Moody's dashboard.
• 12:47
  And again, I just I boiled my numbers down to the ones that
• 12:52
  most people probably only care about, which is the price and
• 12:55
  the block high. As far as I'm concerned here we
• 12:57
  are. So the current Bitcoin price is
• 12:59
  wow, $57,840. We did get a pump on the weekend
• 13:03
  to 60 K. It looks like Barts are back on
• 13:06
  the table. So it went up to 60 K kind of,
• 13:08
  you know, range for a little bit.
• 13:09
  Now we're back down at 58 K. So all the calls over the
• 13:13
  weekend about Bitcoin and never coming back to 58K are once
• 13:17
  again wrong. I am here once again to tell you
• 13:19
  that we are going to be at 58 K forever.
• 13:22
  This is the price guys that Bitcoin is a stable coin now I'm
• 13:26
  I'm kind of trolling I'm kind of trolling it's been a long bear
• 13:28
  marketing You know we've been crabbing for a long time but 58
• 13:31
  K it's still cheap it's still undervalued and you want to keep
• 13:35
  stacking Bitcoin it will start to RIP soon all right 57770
• 13:39
  means that the SAT's per dollar AKA how much Bitcoin you can buy
• 13:43
  for a single dollar AKA how much the dollar is worth in Bitcoin
• 13:45
  is currently at 1731 SAT's or 173 bits for the bits Maxis in
• 13:51
  the back the current block height is 861,581.
• 13:56
  The market cap in Fiat terms is $1.14 trillion and the Bitcoin
• 14:00
  versus gold market cap is 6.38%. All right guys.
• 14:04
  So before actually today's show, my I just, I just thought of
• 14:09
  this live. Today's show might be a little
• 14:12
  doom and gloomy until we get to the culture, but I think it's
• 14:16
  very important for us to keep our heads on a swivel.
• 14:18
  And as a Bitcoiner, you know, it's part of the Bitcoin
• 14:21
  propaganda team. I think it's also very important
• 14:24
  to highlight things that are of concern and not just being
• 14:28
  overly bullish all the time. We got to make sure that our
• 14:31
  heads are on a swivel and Bitcoin is what we think it is,
• 14:34
  which is a decentralized censorship resistant monetary
• 14:37
  network. Of course, we all know the
• 14:39
  monetary properties of Bitcoin, 21 million Bitcoin with the last
• 14:44
  coin being released 2140. So we know what our monetary
• 14:47
  policy is going to be. But as we've covered in the
• 14:50
  past, there has been a lot of talks about choke .2 point O.
• 14:55
  We are gonna talk about whether Bitcoin or rather Coinbase and
• 14:59
  BlackRock are suppressing the price, whether the ETS actually
• 15:01
  have all of this Bitcoin. Of course, one of the main
• 15:04
  concerns in Bitcoin is to eliminate the central banks.
• 15:08
  And as we know the Federal Reserve currently has literally
• 15:12
  0% of reserves that they can print as much money as possible.
• 15:17
  And the whole point of Bitcoin is to eliminate re hypothecation
• 15:21
  of the dollars because that's what makes us poorer.
• 15:24
  They're them devaluating and debasing our currency that we
• 15:27
  are forced to use is the main reason why people are stuck in
• 15:31
  the rat race and living paycheck to paycheck.
• 15:33
  But on that note, got a great clip here from Natalie Brunel's
• 15:37
  podcast with Bitcoin mechanic AKA Grass Fed Bitcoin on Twitter
• 15:41
  on surveillance and why governments change their
• 15:43
  position not to ban Bitcoin. So let's watch this.
• 15:46
  We'll be close and me and Chris will go and get some spicy
• 15:49
  takes. When it comes to Bitcoin, every
• 15:51
  time it's it's like we're just going to make this thing illegal
• 15:54
  and you can't use it anymore and that's the end of it.
• 15:56
  Every time a country does that, they go back on it immediately
• 15:59
  because they realize they've just lost all their control over
• 16:02
  it. And as I'm advocating for here,
• 16:04
  the way Bitcoin becomes truly robust and strong is in
• 16:08
  adversarial environments. If you make Bitcoin illegal,
• 16:11
  what you do is you make all of the garage pleb miners make way
• 16:15
  more money because all of the publicly traded miners can't
• 16:17
  mine anymore because it's illegal.
• 16:19
  So the difficulty goes down and all the miners that can hide and
• 16:23
  operate without permission from the government make more money.
• 16:25
  That's and we again, we have a case study.
• 16:27
  China banned mining, difficulty plummeted.
• 16:30
  My S9 in my garage suddenly was making twice the amount of sats.
• 16:34
  Great. That's exactly what but I want.
• 16:36
  There's nothing bad about that. So governments don't do that.
• 16:39
  They make it illegal for 5 minutes and then they go, Oh no,
• 16:41
  no one's using regulated exchanges anymore.
• 16:43
  We've lost all our control over the big publicly traded miners
• 16:47
  and everyone's doing peer-to-peer trading.
• 16:49
  No one is reporting on their capital gains anymore because
• 16:52
  you can't report that you sold Bitcoin to buy something because
• 16:55
  Bitcoin's illegal. They always go back on it
• 16:57
  because they'd much rather surveil the whole thing because
• 17:00
  it is a public network. They'd much rather control
• 17:03
  people through all the centralized choke points and
• 17:05
  they know people will just kind of go for that.
• 17:07
  So that's what happened with the Internet.
• 17:08
  If you just shut down the Internet, that's zombie movie
• 17:11
  apocalypse scenario again and everyone goes crazy about it.
• 17:15
  Of course, love it, Love the mechanic talking about this
• 17:19
  because we talk about this all the time.
• 17:21
  I stole the meme of you can't ban Bitcoin, you can only ban
• 17:24
  yourself from Bitcoin. And I think we've we've had a
• 17:27
  few examples, a few receipts on this happening.
• 17:30
  You know, China's banned Bitcoin.
• 17:32
  I don't even know how many times over hundreds of times.
• 17:34
  I think it's like 157 times on banning Bitcoin.
• 17:38
  The latest one, of course, was the China Bitcoin mining ban,
• 17:41
  which Bitcoin mechanic is talking about because as much as
• 17:45
  they try to strangle the Bitcoin network and they try to
• 17:49
  implement choke .2 point O rules, they try to regulate and
• 17:54
  tag and bag all of the public Bitcoin miners.
• 17:57
  If they all go off the grid, well, that just means you guys
• 18:01
  out there, the pleb miners out there, the individual solo
• 18:03
  miners out there will just gain more sets with all of the the
• 18:08
  hash power that you currently have, and this is what truly
• 18:10
  makes Bitcoin robust. Yes, we've been talking about
• 18:13
  it. Last week.
• 18:14
  We played a couple Mike Max Keiser clips in regards to the
• 18:17
  global war that we are finding ourselves in, but they cannot
• 18:22
  stop the network because there is so much decentralization in
• 18:26
  regards to Bitcoin miners or the hashers out there that there is
• 18:30
  a robust solo individual mining industry out there.
• 18:34
  Yes, it's smaller than the public Bitcoin miners, but This
• 18:38
  is why the network cannot be stopped.
• 18:39
  Though there are some points there that we constantly talk
• 18:43
  about here and and Bitcoin mechanic kind of talked about
• 18:46
  that is that they are active trying to close off Bitcoin via
• 18:51
  on and off ramps. We are seeing more moves towards
• 18:54
  surveilling the network. And so it is very interesting
• 18:57
  when you get down into the Bitcoin game theory that it's
• 19:01
  reminds me of the very old quote from Satoshi that most people,
• 19:06
  most evil actors on the network are incentivized to just play
• 19:11
  along with the rules and profit off the Bitcoin network and be
• 19:16
  honest actors on the network. And that's what is really
• 19:19
  fundamentally changing a lot of of dynamics in regards to the
• 19:23
  traditional financial world, the the Fiat world that we find
• 19:25
  ourselves in, where on the one side, the Fiat world is
• 19:28
  incentivized to continue to print more money, continue to
• 19:31
  debase the network, basically continue to partake in deception
• 19:35
  so that most people don't understand what's going on in
• 19:38
  the Fiat world in regards to their money.
• 19:40
  And now we have a new system that is Bitcoin where it pays to
• 19:45
  be honest, where it pays to continue to mind the network,
• 19:49
  where it pays to take your Bitcoin into self custody, where
• 19:52
  it pays to continue to educate the masses so that more people
• 19:56
  adopt this Bitcoin thing and more people's purchasing power
• 20:00
  increases. And this is the world we are
• 20:02
  finding ourselves in. There's a fork in the road.
• 20:04
  You either continue in the lies and the deception of the Fiat
• 20:08
  world. Remember what Fiat literally
• 20:09
  means. It means by decree.
• 20:11
  It means that government debt and government words are our
• 20:14
  money. And now we have a money.
• 20:16
  That is backed by proof of work, backed by reality, backed by
• 20:19
  energy, and you have a choice today.
• 20:21
  And the choice is Bitcoin or slavery as we talk about
• 20:25
  constantly. But enough of that, Chris.
• 20:28
  What is your thoughts on this clip by Bitcoin Mechanic?
• 20:32
  Yeah, I'm gonna ring you in ATI. So I know you said that we
• 20:35
  banned Bitcoin like a million times in China.
• 20:38
  It's only been five and obviously they've done different
• 20:40
  variations of it, but you know, it always seems like they're
• 20:42
  banning it, unbanning it. Obviously 2021 was the one of
• 20:46
  the the most recent one and obviously a very big one.
• 20:49
  They banned Bitcoin mining at that point, I think Bitcoin
• 20:53
  mining was like 4045%. Almost close to 50% of the total
• 20:57
  global hash rate was done in China.
• 20:59
  Obviously a lot of reports right after they banned it said it
• 21:01
  went to zero. I think as many people can
• 21:03
  surmise, there are definitely rogue miners in China still that
• 21:07
  are mining under either, you know, with collaboration with
• 21:10
  the Chinese, with the CCP, even though they said they banned it,
• 21:14
  or they're doing it totally under the guise using Tor and
• 21:17
  VPNs, like without being caught. I don't know which one it is.
• 21:20
  I'm, I'm not one to say, but I do know that as of right now,
• 21:23
  there's reports that show that anywhere from 15 to 20% of the
• 21:26
  global hash rate is still in China even after this 2021
• 21:30
  network ban. And Opti, I know you and Nico
• 21:32
  were were covering this definitely back then when China
• 21:35
  banned it in April of 2021, we saw literally the entire hash,
• 21:39
  hash rate drop like more than 50% overnight.
• 21:43
  Basically with a lot of people being scared, turning off their
• 21:45
  miners, obviously selling their Bitcoin in order to up and move
• 21:49
  to a more favorable jurisdiction or just sell their operations
• 21:52
  and cancel it all together. Kind of moving on to that.
• 21:56
  I know Opti, you were talking about, you know, it's
• 21:58
  permissionless and Bitcoin can be used in an adversarial
• 22:01
  environment. I think Bitcoin, and I know I'm
• 22:03
  stealing this from Odell, my buddy Matt Odell, he was saying
• 22:06
  that Bitcoin is perfectly, perfectly aligns incentives.
• 22:11
  So to that point, Satoshi's great quote of saying, you know,
• 22:14
  it makes more sense for an adversary to mine and follow the
• 22:17
  rules in order instead of attacking it because you're just
• 22:20
  going to waste so much energy, electricity and time trying to
• 22:23
  attack the network for not that even much of an reward reward
• 22:26
  while you can just be an active participant, secure the network
• 22:30
  and be rewarded for doing so. So I think that's very important
• 22:33
  where, you know, kind of time this all back to the Fiat world
• 22:36
  in politics. It is in politicians own best
• 22:38
  interest to promise the the sun, the star and the moon, because
• 22:43
  it'll like their incentive is to give their constituents or
• 22:46
  people they represent more free, free, quote UN quote free like
• 22:49
  nothing's free. Obviously there's cost to it,
• 22:52
  you know, on the back end or on the backside of culture, but it
• 22:55
  is in their own best interest to offer as many tax benefits,
• 22:59
  money, anything, just offer their constituents money or, or
• 23:04
  incentives in order to get them in office.
• 23:06
  And then they can either fall back on those promises or fall
• 23:08
  short or don't. They don't even have to give
• 23:09
  them or in the event that they do give those promises or make
• 23:12
  those promises, obviously they're normally devaluing the
• 23:15
  currency and you know, money printer go Burr, you know,
• 23:17
  that's kind of always a a theme and Bitcoin will go up as Fiat
• 23:22
  currency, Fiat currencies inflate away.
• 23:24
  So I don't know, I don't know if anything else to add there.
• 23:27
  No, that was great. And honestly, you reminded me of
• 23:29
  a of an idea that has hasn't had as much of a favor recently,
• 23:37
  ever since Naim Talib. Wait, no, what's it Nasim?
• 23:41
  I forget what it Nasim Talib. I forget what his middle name
• 23:44
  is. Or yeah, Nasim Taleb.
• 23:47
  One of the the memes or the ideas that hasn't really
• 23:51
  continued as much favor in the past is his idea of Bitcoin
• 23:54
  being anti fragile. And as Bitcoin mechanic is
• 23:57
  saying, if you attack Bitcoin, you're only going to make the
• 24:00
  network stronger. And we've seen this play out
• 24:02
  constantly throughout the history of Bitcoin, that once in
• 24:06
  a government attacks Bitcoin, the network reacts and it reacts
• 24:10
  in real time. And then the network just
• 24:12
  becomes more robust as we move forward.
• 24:14
  So too bad Talib has become a Bitcoin derangement syndrome
• 24:19
  person. But that meme of antifragility
• 24:21
  is a very strong meme that I think we should continue to
• 24:24
  Co-op. Of course, if you've been in the
• 24:25
  Bitcoin space for a while, you're, you're familiar with
• 24:28
  this. But if you're newer to the
• 24:29
  space, you don't understand the dynamics and the game theory
• 24:33
  going on. But Bitcoin gets stronger when
• 24:35
  it gets attacked because entrepreneurs and Bitcoiners
• 24:38
  react back to it and ensure that it never happens again.
• 24:41
  And it's just such a beautiful, beautiful aspect of the Bitcoin
• 24:45
  network. But jump in Chris, before we
• 24:46
  move on. Yeah, One last point I wanted to
• 24:48
  add. I know you and, and Nico always
• 24:50
  bring this up and it's kind of a big trope in the Bitcoin
• 24:52
  community, but you never ban Bitcoin.
• 24:54
  You ban yourself from the benefits of Bitcoin.
• 24:56
  And I think that's kind of like the the last thing remarkably
• 24:58
  for this section that, you know, you're banning yourself from the
• 25:00
  benefits of Bitcoin. And even, you know, even China,
• 25:03
  even though they banned it, obviously there's incentive for
• 25:05
  about 20% of the network hash rate to still be there, whether
• 25:08
  that's the CCP themselves or Bitcoin miners seeing the
• 25:12
  incentive too great to even in the face of potentially jail and
• 25:15
  prison and you know, fines, they're still doing it anyway.
• 25:19
  So that just shows the the benefits of Bitcoin for sure.
• 25:21
  Yeah, 100%. You're only hurting yourself if
• 25:24
  you don't adopt Bitcoin. You're only hurting your
• 25:26
  citizenry if you try to stop Bitcoin.
• 25:28
  It's it's the way, man. This is why you need to adopt
• 25:31
  some Bitcoin. All right, guys, before we move
• 25:33
  on to the news, which is why you're here, make sure you smash
• 25:36
  the like button. You subscribe, you comment, you
• 25:38
  share this content. Let's try to get to 100 likes
• 25:41
  with before the 1st 30 minutes. So we got 5 minutes guys.
• 25:44
  Everyone in the chat, smash the like button, subscribe to the
• 25:48
  show, but let's get on to the news.
• 25:53
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  This is the way. All right guys, let's get into
• 28:03
  today's news story, which is why you guys are all here in the 1st
• 28:06
  place. So let's go over this saga a
• 28:09
  little bit. If you guys are new here, Coin
• 28:13
  Base is one of the biggest Bitcoin exchanges in the world.
• 28:15
  They've been around for probably the longest or not the the
• 28:19
  oldest exchange, but they've been around for over a decade
• 28:22
  and they have one of the biggest mind shares in the world in
• 28:26
  regards to where you buy your Bitcoin.
• 28:28
  And then of course they custody. I believe it's what 8 out of the
• 28:34
  9 ETFs? It might even be like what?
• 28:37
  11 of 14 I believe. Yeah 11 of 14 of the ETFs.
• 28:40
  I keep forgetting new ETFs would drop so they are custody 11 of
• 28:44
  the 14 Bitcoin ETFs out there and of course that's not not
• 28:49
  even in to account for the fact that they are also customing
• 28:53
  their Bitcoin for a lot of the big corporations.
• 28:56
  MicroStrategy comes to mind, but they are pretty much the only
• 29:00
  one in the industry that is customing a lot of Bitcoin
• 29:03
  unless the ETFs are doing their own self custody strategy.
• 29:08
  And so we got a rumor over the weekend and people were freaking
• 29:12
  out a lot of bitcoiners. Of course the Bitcoin Maxis out
• 29:15
  there that I really don't like coin Base because coin Base has
• 29:18
  been fighting Bitcoin for a long time, especially during the 2017
• 29:22
  fork wars. They they basically hoodwinked
• 29:26
  everyone. When I got in the Bitcoin, it
• 29:27
  was very obviously there. They had a few all coins there
• 29:32
  or shit coins there and then, you know, they soft launch
• 29:35
  Bitcoin cash on there and there's a lot of confusion of
• 29:38
  which was the real Bitcoin. So they've they've actively
• 29:41
  tried to fight Bitcoin and you can, you can dive into what
• 29:44
  their incentives are. Maybe they had some bags of
• 29:46
  Bitcoin cash. Maybe they don't like Bitcoin.
• 29:48
  Again, you can speculate all you want.
• 29:50
  So we are going to cover this rumor today and shout out the
• 29:53
  Bitcoin therapist. He tweeted this.
• 29:55
  He's the first one and I saw tweet this.
• 29:57
  But again, rumors are circulating that Coinbase is
• 30:00
  riding Bitcoin use for BlackRock and they are suppressing the
• 30:03
  price. Hence why we constantly talk
• 30:06
  about this idea that you shouldn't be buying a Bitcoin
• 30:09
  ETF unless you have money in the traditional financial world.
• 30:12
  And it's hard to get that capital out into spot Bitcoin.
• 30:16
  Then of course, do what works best for you and get some
• 30:18
  exposure via the Bitcoin ETFs. But this is one of the main
• 30:22
  concerns about the ETF is whether all of those ETFs
• 30:25
  actually have the Bitcoin behind the scenes.
• 30:27
  And it's all pegged 1:00 to 1:00 because as we've known in the
• 30:30
  past, this is a a constant tool that they've used with gold or
• 30:34
  This is why people think that the gold price has been
• 30:36
  suppressed for so long is because they can issue more
• 30:39
  paper gold than they have of gold on spot.
• 30:42
  And so this is one of the main concerns a lot of Bitcoiners
• 30:45
  have in, in regards to the ETF is whether there is the Bitcoin
• 30:50
  backing the paper or are there issuing more Bitcoin on the back
• 30:54
  end. So we did get a response here
• 30:57
  from Brian Armstrong himself and, and he goes baldy locks
• 31:01
  here because the original tweet was was deleted, but he was
• 31:04
  responding to the rumors of Bitcoin or a coin base issuing
• 31:08
  Bitcoin IOU to BlackRock and that they're never settling
• 31:11
  this. So here's Brian Armstrong's
• 31:13
  official response on Twitter. He goes, Baldilock's here.
• 31:16
  Not sure what this is all about to be honest.
• 31:18
  All ETF mints and burns we process are ultimately settled
• 31:21
  on chain. Institutional clients have trade
• 31:24
  financing and OTC options before trades are settled on chain.
• 31:27
  This is the norm for all our institutional clients.
• 31:30
  All funds are settled in our prime vault on chain within
• 31:33
  about one business day. If you want audits, Deloitte
• 31:36
  auditors annually. We're a public company.
• 31:38
  I doubt our institutional clients want people dusting all
• 31:41
  their dresses and it's not our place to share for them.
• 31:44
  This is what it looks like if you want a bunch of
• 31:46
  institutional money to flow into Bitcoin.
• 31:48
  As for CBBTC, which Chris might know a little more about that,
• 31:52
  this is their new stablecoin Bitcoin offering where you pack
• 31:55
  some Bitcoin and you get a, you know, Coinbase Bitcoin.
• 31:59
  As for CBTC, yes, you're trusting a centralized custodian
• 32:02
  to store the underlying BTC, and we've never claimed otherwise.
• 32:07
  And so we got some responses here from Bitcoiners, of course,
• 32:10
  Joe Color, sorry. He responds for the IOU rumors
• 32:13
  about Coinbase and the ETFs to be true, it means there is a
• 32:15
  vast conspiracy of civil fraud involving no fewer than four law
• 32:19
  firms, 2 accounting firms, an auditor and Coinbase personnel
• 32:22
  and Black Rock Fidelity, etcetera.
• 32:24
  If you believe it, I have a bridge you may be interested in.
• 32:27
  And I didn't find the meme, but it's just clicking in my head.
• 32:29
  Someone, some someone buzzed it on Twitter.
• 32:32
  That one scene in Big Short where he goes to talk to the the
• 32:36
  girl at the pool and she's basically saying like, yeah, you
• 32:40
  know, we, we run it through all the official paperwork, but
• 32:42
  like, they don't even, they don't even check it.
• 32:44
  They just stamp it and it's good to go.
• 32:45
  We could do whatever we want. So that meme was going around as
• 32:48
  well. And then this morning we got
• 32:50
  another update on this by Eric Balconis, who is senior ETF
• 32:54
  analyst for Bloomberg. And he goes.
• 32:56
  People keep asking me if I believe Brian Armstrong.
• 33:00
  Mostly because BlackRock isn't playing around.
• 33:02
  Folks. They would flip out if Coin was
• 33:05
  screwing around with their BTC or Coinbase or screwing around
• 33:07
  with their BTC. Plus it would violate the 33rd
• 33:11
  act. The reason this theory is a
• 33:13
  thing is twofold. 1, Bitcoin is looking for scapegoat to blame
• 33:16
  for selling pressure instead of looking in the mirror.
• 33:18
  It must be the ETS, but all they've done is saved your bag
• 33:21
  from sliding into oblivion multiple times.
• 33:23
  And two people who invest in BTC are generally skeptical of
• 33:27
  government and institutions, which I get it equals the same
• 33:30
  thing happened with gold bugs and gold, which they called
• 33:32
  paper gold said vault was empty. It wasn't true.
• 33:35
  This is like Deja vu all over again.
• 33:37
  And so doubling down on this, we have I, I, I keep mentioning
• 33:41
  this to you guys because I've seen you guys in the chat say
• 33:43
  very similar things that the ETF isn't really backing being
• 33:48
  backed by Bitcoin 1:00 to 1:00 and that they are re
• 33:51
  hypothecating that Bitcoin. And even if they were, as how
• 33:56
  Finney said in the back in the, in the one of the earliest posts
• 33:58
  of Bitcoin, the Bitcoin banks will learn and people will
• 34:02
  eventually figure out whether they are going to go to a fully
• 34:05
  backed Bitcoin bank, quote UN quote, or a fractionally
• 34:08
  reserved Bitcoin bank. So if they are like Eric was
• 34:11
  saying, I think the market will learn very quickly that that is
• 34:14
  a dumb thing. And in regards to BlackRock, I
• 34:17
  think they really want to see the Bitcoin ETF product work and
• 34:21
  they're not going to play any games.
• 34:22
  Does that mean that they won't in the future?
• 34:24
  We don't know, but as of now, I personally am kind of leaning
• 34:28
  towards the idea that all of the Bitcoin ETFs are back one to one
• 34:31
  by Bitcoin. And to double down on this, I
• 34:34
  have been mentioning that you guys go follow Checkmatey on
• 34:36
  Twitter and of course signee, which is time chain Index.
• 34:39
  So I'm going to show some of the data that Sonny's been doing on
• 34:42
  Twitter. And so someone responds.
• 34:45
  Does anyone out here have actual UTX OS coming in and out of the
• 34:48
  ETF wallets or is everything fake on a fake screen?
• 34:52
  And Sonny says, you know, and then tax on it and goes I do.
• 34:56
  And then they ask link cleans, where are the charts, you know,
• 34:59
  where's the data? And then he responds, go to
• 35:01
  timechainindex.com. You can't see the individual
• 35:04
  addresses for now. They are hidden, but they are
• 35:07
  there. Trust me bro.
• 35:08
  And he does a laughing emoji because of the meme, you know,
• 35:10
  trust me bro. Like it's there and, and then so
• 35:13
  in response. Thank you.
• 35:14
  They're hidden in the scrap, but have you actually seen these
• 35:17
  inflows and outflows on chain? And Sonny responds yes, for
• 35:20
  sure. You can see the on chain flow
• 35:22
  through etf.timechainindex.com and then change the manage to
• 35:26
  inflow and outflow. So I do have that chart for you
• 35:29
  guys. Again, you guys can go to
• 35:30
  timechainindex.com and you can check this for yourself.
• 35:33
  Of course you will have to. I, I think he has this under a
• 35:37
  paid wall if you really want to get into all of the data.
• 35:41
  But as far as whether it's been tracked and if people are
• 35:45
  tracking whether the ETFs are backed 1 to one by Bitcoin, I, I
• 35:49
  guess I am going to take Sonny and, and check Matey's word for
• 35:53
  this. But you can also check this on
• 35:54
  check Matey's data. And he's also been out there
• 35:57
  beating the drum to this idea that the ETFs are backed 1 to 1.
• 36:01
  So moving on, Sonny of course chimed in on this and he says I
• 36:06
  don't know which chain this guy is is looking at, but all the
• 36:09
  ETS have reserves 1 to one, end of story.
• 36:14
  And of course, so there's data to this and I think it's very
• 36:19
  interesting. And I think Eric kind of hit the
• 36:21
  nail on the head. A lot of Bitcoiners right now
• 36:23
  for whether they agree to it or not.
• 36:26
  And they, they always say, I don't care about the price.
• 36:29
  Everyone's been in a long bear market and they're like, what
• 36:32
  are the reasons for the Bitcoin price not moving up?
• 36:35
  Are they re hypothecating Bitcoin?
• 36:36
  Are they, are they issuing more paper Bitcoin than they are
• 36:39
  buying? I think a lot of the data shows
• 36:42
  that they are actually holding that much Bitcoin.
• 36:45
  They're actually acquiring that much Bitcoin.
• 36:47
  There is a one day delay, which we've covered in the past and I
• 36:50
  think that's a known thing. But as Steve Signer says here,
• 36:54
  you know, given how many outright scams that Brian
• 36:58
  Armstrong's company has facilitated, color me skeptical
• 37:00
  of anything that comes out of his mouth.
• 37:02
  So I think that's what a lot of Bitcoiners are saying right now
• 37:05
  is yes, there's been rumors of this.
• 37:07
  Of course, they are just rumors. The data as far as we can tell
• 37:11
  is that the ETFs are backed 1 to one.
• 37:13
  I don't think BlackRock is going to play games right now and
• 37:15
  wreck their Bitcoin ETF. They wanted to succeed.
• 37:18
  Now they've unleashed their 15,000 institutional asset
• 37:22
  managers out there to show it to everyone.
• 37:24
  So I'm I'm kind of leaning and maybe I'm being naive here, but
• 37:28
  I'm leaning towards the fact that all the ETFs are backed
• 37:31
  1:00 to 1:00. But with that being said, as a
• 37:33
  bitcoiner that's been around for a while and seen a lot of the
• 37:36
  shenanigans that Coinbase has been up to, it does make you
• 37:39
  skeptical. So I will end it with just one
• 37:42
  tweet from NVK. Even if you think that Coinbase
• 37:45
  has all of the Bitcoin, which would make a huge splash and
• 37:49
  that would be even bigger than Mount Gox and and that would
• 37:52
  really hurt the industry. I don't think as much as
• 37:55
  Coinbase may be an adversary to Bitcoin.
• 37:58
  I don't think they want to wreck the whole Bitcoin industry in
• 38:01
  general. Because if Coinbase does get rug
• 38:02
  pulled, we're going to be in a, in a a prolonged bear market
• 38:07
  gonna be bad for the whole industry.
• 38:08
  And if they are trying to make money off all coins, then
• 38:11
  they're not going to wreck the whole industry.
• 38:13
  So I think they are playing it safe.
• 38:14
  But again, hash on your coin.
• 38:33
  You went into the matrix there for the last like 10 seconds.
• 38:36
  So I'll try and take over. Hopefully we'll be back in good.
• 38:39
  I know they've kind of brought up Coinbase or CBBTC.
• 38:43
  That's kind of like a wrapped Bitcoin thing that is meant for
• 38:47
  D Phi and it's like an ERC 20 token.
• 38:49
  So it's basically built on Ethereum.
• 38:51
  I wouldn't trust that personally.
• 38:53
  You know, like I said, not financial advice, not investment
• 38:55
  advice. I would not recommend using that
• 38:58
  personally in terms of kind of like them committing fraud or
• 39:03
  not being backed completely 1 to one.
• 39:06
  I kind of agree with Joe Carlosari here.
• 39:08
  Like I think that I guess I'll caveat it.
• 39:11
  I agree with Joe Carlosari here. Like I don't think they're
• 39:13
  scamming it. I don't think they're basically
• 39:16
  shorting Bitcoin. I don't think they're
• 39:17
  rehypothecating it. Not saying that that can't
• 39:20
  happen. That is definitely probable, but
• 39:23
  I I don't think that definitely possible, but I don't think
• 39:25
  that's probable right now. And kind of to his point, like I
• 39:29
  think Blackrock's not messing around with that being said, at
• 39:33
  the end of the day, not your keys, not your coins.
• 39:36
  And in the event that let's just say Larry Fink was the out there
• 39:39
  calling Brian Armstrong baldy locks or making fun of him or
• 39:43
  being hostile towards him or whatever the reason may be.
• 39:46
  At the end of the day, if Coinbase has the Bitcoin that
• 39:49
  they say that they have and it is all backed 1 to one, that
• 39:52
  means that at the end of the day, Brian Armstrong technically
• 39:55
  controls the entire stack of not just BlackRock, but like the 10
• 39:59
  other ETF providers. And at the end of the day, it
• 40:01
  is, you know, you know, he's going to claim, oh, we have
• 40:04
  systems, we have things in place.
• 40:05
  At the end of the day, him and his company or the umbrella of
• 40:08
  his company could stop. One of those 11 participants to
• 40:11
  not get their Bitcoin and what do I mean by that is technically
• 40:14
  they are the authorized participant or the custodian of
• 40:17
  that Bitcoin. And that means that at the end
• 40:19
  of the day that that he he has the right of whether that
• 40:22
  Bitcoin moves or not. And, you know, obviously, you
• 40:24
  know, there's legal suits that can happen and Larry Fink could
• 40:27
  like go after him and I'm sure the SEC would sue by Coinbase in
• 40:30
  the event that they're not moving the Bitcoin.
• 40:33
  But at the end of the day, not your keys, not your coins.
• 40:35
  So you want to self custody your own Bitcoin.
• 40:37
  You don't want to be at the mercy or of any one of these
• 40:41
  participants, whether it's a stock, a bond, you know, you
• 40:44
  know, anything like that. Like that is the importance of
• 40:47
  Bitcoin. Back in the day, there used to
• 40:48
  be stock certificates. There used to be bond
• 40:50
  certificates, like literally a piece of paper that you could
• 40:52
  trade in. That was like the equivalent of
• 40:54
  saying, I hold this now, obviously in this day and age in
• 40:57
  in, you know, 2024 and in the 21st century, there's a lot of
• 41:00
  brokerage and financial institutions.
• 41:02
  And I understand, I won't pretend to fully understand the
• 41:05
  legal implications. That's better for a joke caller,
• 41:07
  sorry, or a Zach Shapiro. Obviously their lawyers and
• 41:10
  their loyal firms can give you a better understanding of it.
• 41:12
  But at the end of the day, like even though those custodians or
• 41:16
  financial institutions hold it on your behalf, there's a lot of
• 41:19
  problems that arise with that. Obviously we talk about like
• 41:22
  with you holding Fidelity, BlackRock, Vanguard, any of
• 41:24
  those things, if you're holding stock, they technically own your
• 41:27
  voting rights. So even though you may hold
• 41:29
  these stocks, at the end of the day, we want the ability to
• 41:32
  vote. That is running your own node.
• 41:33
  So when you run your own node, you have a vote, you have a say.
• 41:36
  You know, if they try and make Bitcoin 12345 XYZ, you could say
• 41:41
  no, that's not the Bitcoin that I follow.
• 41:42
  I follow BTC Bitcoin and this is me voting with my node by not
• 41:46
  updating and changing and forking away my code.
• 41:49
  Holding Bitcoin in self custody is the the, the act of saying I
• 41:53
  hold my own Bitcoin. I don't have to ask permission
• 41:56
  from Opti, from BlackRock, from Brian Armstrong.
• 41:58
  I can move it whenever I want, however I move it whenever I
• 42:01
  want. So that is the act.
• 42:04
  So the node is your way of your voting for your rules.
• 42:06
  You're not giving those voting rights over to BlackRock,
• 42:09
  Vanguard, Fidelity, Brian Armstrong, Coinbase, whatever.
• 42:12
  You're voting for yourself with what Bitcoin, what is Bitcoin
• 42:14
  and what it means to you. And then also holding your own
• 42:16
  Bitcoin, your own private keys is your way of self custody it
• 42:20
  yourself. You don't have to ask BlackRock,
• 42:22
  you don't have to ask Brian Armstrong.
• 42:23
  You don't have to ask any of the other ETF providers.
• 42:25
  So that is the revolutionary act.
• 42:27
  I know Nico always harps on that.
• 42:28
  Like holding self custody and running your own node are the
• 42:30
  revolutionary acts. It is a peaceful revolutionary
• 42:33
  act that you get determined what Bitcoin is and how it is used.
• 42:36
  I'll end my rant there. I don't know if you want to add
• 42:38
  anything off the all. Right.
• 42:40
  So hopefully I'm back. I don't know what's going on
• 42:42
  with my Internet, but but yeah, I, I, I pop back in.
• 42:46
  Yeah, too. I was going to say the same
• 42:48
  thing, that taking Bitcoin into custody is the revolutionary
• 42:51
  act. And This is why we always say
• 42:52
  that this is the peaceful revolution.
• 42:54
  And all it really takes is for you to take your wealth out of
• 42:58
  the system, hold your own private keys, make sure you are
• 43:01
  securing your own wealth. But yeah, no, I, I totally agree
• 43:04
  with you, Chris. I personally would think it
• 43:06
  would be a dumb move of Coinbase, even if they are
• 43:09
  adversaries to Bitcoin and they don't want to see Bitcoin, you
• 43:13
  know, get out of the gate so that they can play cover for
• 43:15
  their all coins. I, I don't think that they're
• 43:17
  doing this. Yes, Bitcoiners are skeptical of
• 43:20
  banks. Yes, Bitcoiners are skeptical of
• 43:22
  the government. And yes, we, we have been
• 43:25
  exposed to a lot of price manipulation in the traditional
• 43:28
  financial system. And I think you'd be naive to
• 43:31
  think that they aren't trying to do this with Bitcoin.
• 43:34
  As I say all the time, we know the billionaire FUD playbook at
• 43:39
  large, and it is, you know, FUD Bitcoin, do whatever you can to
• 43:42
  suppress the price, but only until you get your position, you
• 43:46
  stack your stats and then you endorse Bitcoin and then the
• 43:49
  price starts ripping. So if there is a certain amount
• 43:52
  of price suppression, it can only last for so long until
• 43:55
  there's enough people that are getting interested in Bitcoin,
• 43:58
  they get that retail FOMO and they take their Bitcoin off
• 44:01
  these exchanges and they don't keep and a significant amount of
• 44:04
  wealth in these ETFs. So the real name of the game is
• 44:07
  holding spot Bitcoin. But I know, you know, and, and
• 44:09
  people can yell at me all the time because I always troll the
• 44:12
  boomers out there. But we just know the boomers
• 44:14
  don't like to take custody of their assets.
• 44:16
  But This is why it's a young man's game, because we all
• 44:19
  understand the game. We know the game's rigged and
• 44:21
  we're like, we're taking our wealth into custody using
• 44:24
  Bitcoin. But yeah, jump in, Chris.
• 44:26
  I was going to add the, the, the billionaire's game or, you know,
• 44:28
  like Peter Thiel, like two years ago, I was like, I love Bitcoin.
• 44:31
  Bitcoin's great. I have a bunch of it now.
• 44:33
  It seems like he sold his bag. Now he's flooding it saying it's
• 44:36
  not what it what he thought it was.
• 44:38
  He wants the price to go down. I always say like think Jim
• 44:41
  Cramer, whenever he's praising something, it means he's selling
• 44:43
  it. Whenever he's shitting on
• 44:45
  something, it means he's buying it.
• 44:46
  You know, maybe that's not true for everything.
• 44:48
  He obviously floods Bitcoin a lot and all of that.
• 44:50
  But definitely I think that is the mainstream media and
• 44:52
  billionaires play of like flooding this stock when they're
• 44:55
  when they're buying so they can get on a cheaper price and then
• 44:58
  they're buying when they're praising it so they can dump it
• 45:00
  on retail while the price is going up.
• 45:02
  You know, I'm not gonna say any other names or keys anyone else
• 45:05
  of anything like that. But that's what I'm just saying.
• 45:08
  You could just stay humble. Stack sats when it's up, stack
• 45:10
  sats when it's down. It's all 58 K at the end of the
• 45:12
  day. So, you know, you're all good.
• 45:14
  It's all noise. They could fund the Bitcoin
• 45:16
  price and suppress it and we just get cheaper stats because
• 45:19
  we're never going to stop buying Bitcoin.
• 45:21
  We're not going to stop holding it anyways.
• 45:24
  I'll add one, one last thing too on top of that.
• 45:26
  So everyone's saying like, oh, Binance or you know, Coinbase or
• 45:30
  BlackRock is kind of flooding the price or they're messing
• 45:32
  with it or they're doing Ious. The easiest way to prevent that
• 45:35
  is to buy Bitcoin and take it into self custody.
• 45:37
  You don't have to worry about they're funding the price up or
• 45:39
  down. You buy it, take it into self
• 45:41
  custody. Think like Hungry Hungry hippos.
• 45:43
  You're just trying to get all those like white little balls in
• 45:45
  there and that's you stacking sats or like Pac-Man with the
• 45:47
  white dots. You know that's exactly what you
• 45:49
  want to do. You want to take him to self
• 45:50
  custody and you don't have to worry about the the small or
• 45:53
  short to medium term price fluctuations.
• 45:55
  You just stay some bolt stack sats save for your future.
• 45:58
  You know, I think my greatest accomplishment is continuing to
• 46:01
  double down on the Hungry Hippo meme.
• 46:03
  Guys, this is this is a game of accumulation.
• 46:06
  You just want to acquire as much Bitcoin as possible.
• 46:09
  Anyways, guys, there's over 1600 of you guys watching right now.
• 46:13
  Smash the like button, help us get pushed in the algo so more
• 46:15
  people can hear this signal. All right guys, let's get into
• 46:18
  the culture because I really do want to touch on Naibucale in El
• 46:22
  Salvador. So here we go
• 46:38
  All right, I I don't know if he tweaked out on your end.
• 46:41
  Maybe that's just my end. Anyways, guys, make sure you get
• 46:46
  on orange pill app.com stack friends who stacks as we
• 46:50
  constantly tell you on the show, we believe Bitcoin is the
• 46:54
  high-powered money of the digital world that we find
• 46:57
  ourselves in the high-powered money of the future.
• 47:00
  And if this is true, and I would argue it is true, then
• 47:03
  bitcoiners are going to be the high-powered financial elite of
• 47:07
  the future. He who owns the Bitcoin makes
• 47:09
  the rules as Max Keiser said. So you want to take these
• 47:13
  relationships you've built online into meet space.
• 47:15
  Make sure your community is strong surrounded by like minded
• 47:18
  individuals, which means you want to continue to build local
• 47:22
  community communities of bit corners.
• 47:24
  So get on the orange pelap.com stack friends who stack SAT.
• 47:27
  This is the way. If you're the lone crazy bit
• 47:29
  corners is a good way to get in touch with other bit corners in
• 47:32
  your area. And if there is no events in
• 47:34
  your area, think about creating one.
• 47:36
  It might start small. It might just be one or two
• 47:38
  person to start with, but eventually it will be needed to
• 47:41
  ensure that when this bull run comes, people are getting the
• 47:44
  right information instead of going to these, you know,
• 47:47
  Bitcoin LARP meetups that are really just cover for shit
• 47:50
  coins. OK, let's get into to this
• 47:53
  story. So we got this tweet here, and
• 47:57
  it is in Spanish, the original tweet, but I translated for you
• 48:00
  guys. So President Naibu Kelly
• 48:01
  announced that El Salvador would no longer acquire external debt
• 48:04
  to finance the next general budget of the nation.
• 48:07
  El Salvador's on the path to true freedom.
• 48:11
  Oh, sorry, on the path to true freedom.
• 48:16
  OK, so I did get this clip for you guys.
• 48:19
  It is translated with subtitles, so for the audio listeners, I
• 48:24
  guess we can kind of talk about it on the back end, but I got
• 48:27
  the clip for you guys with subtitles.
• 48:28
  So watch the video as we continue the show.
• 48:33
  La is lativa for Primera descendecas El primer presu
• 48:42
  puesto completamente financiado Celia necesidad de mitir UN
• 48:49
  solos entago de euda paragasto corriente El Salvador giano
• 48:55
  gasta ramas de lo que producer en almente nisi quiera vamosa
• 49:03
  presta dinero para pagarlos interesses de Las de Buda quenos
• 49:06
  cerenaro asta ESO lo pagaremo de estrapropia production lo
• 49:13
  beneficio que esto traera. Absolutely revolutionary.
• 49:42
  I think this is something we talk about constantly.
• 49:44
  It's the idea that if an individual ran their balance
• 49:48
  book like the federal governments did, every single
• 49:51
  one of us would be bankrupt because they are just taking on
• 49:55
  more debt. We, we, there's no possible way
• 49:58
  that we can pay back our debt. We're barely able to pay back
• 50:01
  the interest on the debt again. Remember, the interest payments
• 50:04
  for the national debt Is, is it? It's more than the whole
• 50:11
  industrial military complex. And so if you think that the
• 50:15
  best way to pay back this debt is by just taxing more
• 50:18
  individuals, it's not even a possibility.
• 50:20
  It's mathematically guaranteed that they could never do this
• 50:24
  because they're constantly printing more money.
• 50:27
  And now the first Bitcoin country, first Bitcoin president
• 50:32
  is saying and doing what we tell you guys constantly on the show,
• 50:35
  that when you price your life in Bitcoin, your life gets cheaper.
• 50:38
  And you're seeing that now he's continuing to do that on his
• 50:42
  nation state level. He's starting to see that, yes,
• 50:45
  we are going to ensure that our production pays for our country.
• 50:50
  No longer are we going to take debt from other nations.
• 50:52
  No longer are we even going to use the the interest to pay from
• 50:56
  from our debt to pay off our own or we're never going to use debt
• 50:59
  to pay off our own interest. We are going to be a productive
• 51:02
  financially independent country. And This is why we always say to
• 51:05
  you guys, it is Bitcoin or slavery.
• 51:08
  The Fiat world that we live in is all paid off for by debt.
• 51:13
  And there is no way to get out of this vicious cycle of paying
• 51:18
  it off. If you are using these slave
• 51:20
  tokens, these trash tokens, if you are incurring more debt than
• 51:24
  your country is producing, there's no way to get out of
• 51:27
  this. And and Naibu Calais, I think
• 51:29
  has made a revolutionary move here by not only saying this
• 51:33
  publicly, but by I'm I'm sure going to actualize this.
• 51:38
  And if he can continue to do this Bitcoin playbook, it's
• 51:42
  going to catch on and more countries are going to see this
• 51:45
  play out. And we've seen this historically
• 51:47
  it, it, I would argue this is a very dangerous move by Naive
• 51:51
  Calais currently, because we've seen when countries try to get
• 51:54
  off the, the debt dollar, you know, it seems like then then
• 51:58
  America needs to give them a little more freedom.
• 52:01
  So it's going to be interesting to see this play out.
• 52:04
  We've been covering for the last couple of years, ever since
• 52:07
  Bitcoin legal tender was announced in 2021, the amount of
• 52:10
  propaganda and hit pieces that have come out against Naive
• 52:14
  Buckele. But this is a very, very strong
• 52:16
  move as far as I'm concerned. Of course, El Salvador has AGDP
• 52:20
  of about $32 billion. So it's a tiny country.
• 52:22
  So I think it's, it's obviously feasible, but it's going to be
• 52:26
  very interesting as time moves on whether other countries are
• 52:29
  going to follow suit. So here we got got of course,
• 52:33
  Stacey Herbert, the Max Keiser. They're, they're the reigning
• 52:36
  king and queen of the Bitcoin El Salvador movement.
• 52:39
  They're down there, they're they're constantly talking about
• 52:42
  Bitcoin. And here's a tweet from Stacey
• 52:44
  Herbert. El Salvador president delivers
• 52:45
  fiscal independence on Independence Day.
• 52:48
  In his Independence Day speech, President Naibu Kelly just
• 52:51
  announced that El Salvador will achieve fiscal independence
• 52:54
  starting with the 2025 budget. This means more debt El Salvador
• 52:58
  is winning and of course, you know Max Kaiser doubling down on
• 53:02
  this just just laying out the receipts for everyone El
• 53:06
  Salvador, the safest country in the hemisphere, a squeaky clean
• 53:10
  government, no new debt rapid repayment of all debt Bitcoin as
• 53:13
  legal tender and the only country with censorship free
• 53:16
  sovereign channel on rumble. And there was some other news
• 53:19
  coming out that new Bitcoin banks are opening up and the
• 53:22
  Bitcoin bank proposal is gaining momentum in El Salvador.
• 53:26
  So you just, I just love to see it.
• 53:28
  I did do a little, you know, Grok AI on here so you guys
• 53:31
  could get a little more details of what's going on.
• 53:34
  Of course, this was just a speech at the Independence Day
• 53:37
  announcing fiscal independence and where they're going in 2025
• 53:41
  and that the general budget will be managed.
• 53:43
  They're not going to get debt to do it.
• 53:44
  So I'll just cover some of these these bullet points here and
• 53:49
  then I'll pass it over to Chris. So El Salvador's journey towards
• 53:53
  fiscal independence culminating in President Naive Buchelli's
• 53:55
  announcement on Independence Day 2024 represents a significant
• 53:59
  economic strategy shift. Here's an overview based on the
• 54:02
  information available as of September 16th, 2024.
• 54:06
  Debt reduction efforts. Prior to declaring fiscal
• 54:08
  independence, El Salvador engaged in strategic debt
• 54:10
  management. This include buying back its
• 54:12
  bonds at lower market price, which were depressed due to a
• 54:15
  various factors, including the country's adoption of Bitcoin as
• 54:18
  legal tender and concerns over its economic policy.
• 54:21
  This move not only reduce its debt but also save the country
• 54:24
  considerable sums by repurchasing bonds below face
• 54:27
  value. The fiscal independence
• 54:29
  announcement of course, President Buchelli declared that
• 54:31
  starting with the 2025 budget, El Salvador would no longer
• 54:34
  require external debt to fund its annual budget.
• 54:37
  This was seen as a bold step towards financial sovereignty,
• 54:39
  aiming to free the country from the cycle of borrowing and debt
• 54:42
  repayment. Sounds familiar?
• 54:44
  We we talk about this constantly Economic strategy.
• 54:46
  The plan to achieve and maintain this debt for status involves
• 54:49
  leveraging natural resources, promoting tourism, and
• 54:51
  attracting foreign investment. These efforts are designed to
• 54:54
  generate sufficient revenue to cover government expenses
• 54:57
  without reliance on loans or external financing.
• 55:00
  The announcement was met with a mix of optimism and skepticism.
• 55:03
  On one hand, it symbolizes a break from traditional economic
• 55:06
  dependencies and could potentially lead to more robust
• 55:09
  economic growth if managed well. On the other, critics and
• 55:12
  observers point out the challenges such as the need for
• 55:15
  sustained economic growth, maintaining fiscal discipline,
• 55:18
  and addressing underlying issues like the rule of law and
• 55:20
  government's transparency, which has been highlighted as areas of
• 55:25
  concern. Of course, this move sparked
• 55:26
  interest globally. We're talking about it.
• 55:29
  I'm sure other countries are talking about it.
• 55:31
  And then you can see, you know, a little skepticism.
• 55:33
  Despite the bold declaration, achieving and maintaining true
• 55:37
  fiscal independence required not just one off measures, but a
• 55:39
  sustained policy of economic growth, governance reform and
• 55:42
  possibly renegotiating its stance on international
• 55:45
  financial systems, especially given its Bitcoin experiment.
• 55:48
  So of course, you can see that there is some skepticism on
• 55:54
  this, of course, especially considering that we live in a
• 55:56
  Keynesian economic world where everyone thinks that the only
• 56:00
  way to keep the economy growing is by issuing more debt.
• 56:03
  And what's the meme? You know, debt is, is money we
• 56:05
  owe ourselves. And essentially, we've been
• 56:08
  covering this on the show for a long time that the world
• 56:11
  economy, if they're on the Fiat standards, basically running on
• 56:15
  fumes. And the only way to continue
• 56:17
  that growth is by injecting more capital in that injecting more
• 56:21
  debt, AKA money printer going Burr.
• 56:24
  And so of course you're going to see some skepticism on this.
• 56:26
  But as someone that's a bitcoiner, as someone that would
• 56:29
  kind of consider themselves an Austrian economist, you love to
• 56:33
  see that Naibu Calais is doubling down not only on the
• 56:37
  Bitcoin legal tender status, but the ideas of Bitcoin in general
• 56:41
  of a debt free banking system. And this is how you ensure
• 56:44
  productivity in your country versus just installing more debt
• 56:48
  and essentially stealing more from the masses.
• 56:51
  They are taking a bold move. And of course, it's still early
• 56:54
  on this topic, but I think this this play is going to it's going
• 56:58
  to work incredible for El Salvador.
• 57:00
  And it reminds me of something that Max Heiser always says.
• 57:04
  I did do a short, we played this video for you guys the other day
• 57:07
  in the regards to the global hash war, the World War, Bitcoin
• 57:10
  that we are seeing right now. And, and it's a really stark
• 57:13
  contrast to what we're seeing in the US that if the US does want
• 57:17
  to catch up, of course, El Salvador's GDP is tiny.
• 57:20
  So Bitcoin or US could potentially catch up to El
• 57:24
  Salvador if they do implement a Bitcoin strategy that doesn't
• 57:27
  hurt the Bitcoin industry or rather hurt themselves, they can
• 57:30
  potentially make a similar move. But I don't think the Overton
• 57:33
  window has shifted yet in the US to fully go to a quote UN quote
• 57:37
  risky experiment like going Bitcoin by going, you know,
• 57:41
  being physically, fiscally responsible because we keep
• 57:44
  covering. There's really only three
• 57:45
  options here for the global economies around the world and
• 57:50
  it's austerity. It's basically not print more
• 57:52
  money, it's taxing more people or, you know, go on to a Bitcoin
• 57:58
  standard. And as a Bitcoiner, we
• 58:00
  constantly talk about this idea that the best move forward for
• 58:03
  every country, first world or third world is to embrace
• 58:06
  Bitcoin. It's to get a Bitcoin reserve
• 58:09
  strategy going on. So it really does look like
• 58:11
  Naibu Kelly is just leading the pack.
• 58:13
  Of course, his country's tiny, but it's still, I would say a, a
• 58:18
  bold revolutionary move that I think in the future will be
• 58:22
  written down in history books and look back upon and be like,
• 58:25
  that was the move. Because we all know here, we
• 58:27
  constantly bring up the metrics for you guys that your life does
• 58:30
  get cheaper on the Bitcoin standard on an individual level,
• 58:33
  on a nation state level. Michael Saylor has been been
• 58:35
  proving this on a corporate level as well.
• 58:38
  And so I, I think this is a bold move.
• 58:40
  And I'm, I'm really interested to see how this plays out and
• 58:43
  whether they can actually hold themselves to that 2025 general
• 58:47
  budget standard and not get any more debt.
• 58:50
  And that is really how you will find true independence, true
• 58:54
  financial independence. And that's what Bitcoin is
• 58:56
  about. Anyways, I ranted long enough.
• 58:58
  Chris, what's your thoughts on this move?
• 59:01
  One quick thing before you put me solo Opti, I sent you
• 59:03
  something in the chat. This is a a specified memple
• 59:06
  instance that is built specifically for the country of
• 59:09
  El Salvador. It's in the the private chat
• 59:11
  Opti. Yeah, I.
• 59:12
  Got it. I got it right here.
• 59:13
  Yeah. So this is a specific instance
• 59:15
  that was made for just for El Salvador.
• 59:16
  I'm going to touch on this in on one SEC, but I want to go back
• 59:19
  to your first point. So you're talking about the
• 59:21
  federal government and their spending, their irresponsible
• 59:23
  spending after you made a great point that like, if we all spent
• 59:26
  like the federal government, we would all be bankrupt.
• 59:28
  And what I mean by that is like, obviously they're in trillions
• 59:30
  of dollars of debt. There is no path forward for
• 59:32
  paying this forward. The only way that they're doing
• 59:35
  this is like basically by taking out a new line of credit and a
• 59:37
  new credit card in order to pay out that debt, which is not
• 59:40
  sustainable, never is sustainable.
• 59:42
  That can't be done. Obviously they're not going to
• 59:44
  declare bankruptcy. They're just going to try and
• 59:46
  print their way out of it, which devalues the Fiat currency,
• 59:49
  which hurts effectively larger the middle and lower class.
• 59:53
  I want to add to oh, and then the other thing I said, I
• 59:56
  they're paying currently, I think we've said this on Fridays
• 59:58
  episode that they're paying over $3 billion in interest payments
• 1:00:02
  a day. So over almost $1.1 trillion in
• 1:00:05
  interest payments alone. That's not Medicare, that's not
• 1:00:08
  Social Security, that's not, you know.
• 1:00:12
  Medicare, Social Security, military industrial complex, no,
• 1:00:15
  like defense spending, none of that.
• 1:00:17
  It is only paying the debt. So we're getting nothing for it.
• 1:00:20
  It's only stuff that we've already spent or already used.
• 1:00:22
  We're paying that and it's only growing.
• 1:00:23
  Unfortunately, like I said, in 2019 or the the very beginning
• 1:00:27
  of 2020 before the pandemic hit, we were paying 1 billion in
• 1:00:30
  interest a day, which is still a fuck ton of money.
• 1:00:33
  We are now paying 3 billion. So it's gone up, you know, 2
• 1:00:35
  full or three times basically as much.
• 1:00:37
  Going back to that chart though, real quick.
• 1:00:40
  So obviously Naibukele said back in November of 2022, November
• 1:00:45
  17th, 2022, that El Salvador would continue to buy one
• 1:00:49
  Bitcoin a day, you know, for the foreseeable future.
• 1:00:52
  A lot of people thought like when what is it?
• 1:00:54
  Tail end of 2023 or yeah, tail end of 2023 when everything
• 1:00:58
  happened with FTX, they were going to stop buying.
• 1:01:00
  And then he just doubled down and said Nope.
• 1:01:01
  Even in the light of all the FTX and all that going on, it is a
• 1:01:05
  chart literally straight up and to the right of buying one
• 1:01:07
  single Bitcoin a day for almost two years at this point.
• 1:01:11
  This is kind of like an isolated example, but I was at a Spanish
• 1:01:14
  festival this weekend and I was there and there's a lot of
• 1:01:17
  different vendors selling different foods or toys and
• 1:01:20
  trinkets or, you know, whatever you want at a festival.
• 1:01:22
  And there was an El Salvador booth and I was like, oh crap,
• 1:01:25
  like I want to check this out. So I go over and they had the El
• 1:01:29
  Salvadoran flag, they were selling pupusas.
• 1:01:31
  And, you know, I kind of asked them, there's probably like six
• 1:01:33
  or seven of them there helping, you know, meet everyone's
• 1:01:35
  orders. I'm like, oh, what do you guys
• 1:01:36
  think of El Salvador? And the one guy literally,
• 1:01:38
  literally like lifts up his jersey and there's a picture of
• 1:01:40
  President Bouquet. Naive Bouquel, one of the guys
• 1:01:43
  had one of the aprons that had a picture of his face.
• 1:01:46
  So just from the isolated incident.
• 1:01:47
  But a lot of people that I was talking to really love Bouquel
• 1:01:50
  as a president and as a ruler for their country.
• 1:01:53
  Obviously, you can see in a lot of his policies, I know they're
• 1:01:56
  hotly debated with many people with some of the things that
• 1:01:58
  he's done. But overall, it seems like a lot
• 1:02:00
  of native or, you know, native speaking El Salvadorians or
• 1:02:03
  Salvadorians are really excited to have them there.
• 1:02:06
  And obviously, you know, the results are kind of showing for
• 1:02:07
  themselves. I know Nico always says it'll be
• 1:02:09
  a matter of time before we see how how his term as president
• 1:02:14
  is. But so far so good.
• 1:02:15
  And it looks like they're doing a lot of good things.
• 1:02:17
  They're bringing in tourism. More people are going there
• 1:02:19
  instead of leaving. Obviously, you know, not having
• 1:02:22
  any fiscal debt or not bringing on new fiscal debt in 2025 is
• 1:02:26
  incredible. I don't think any other nation
• 1:02:28
  on the planet can say that. I'm gladly will be wrong if
• 1:02:31
  someone can correct me with that.
• 1:02:32
  But yeah, I think it's just a testament to Naibu Kaley and
• 1:02:35
  what he's doing with the country.
• 1:02:36
  And, you know, it definitely seems like there is a path
• 1:02:38
  forward for countries to try and do this and try and get out of
• 1:02:40
  debt and try and get out of the the entrapment of Fiat slavery.
• 1:02:45
  So yeah, I'll just leave it there.
• 1:02:46
  Yeah, totally it. It really goes to show how
• 1:02:50
  having a strong leader is a good thing for your country.
• 1:02:54
  Yes, it may not always be popular.
• 1:02:56
  Yes, people are going to have their naysay.
• 1:02:59
  Yes, you know, there'll be some FUD in regards to this.
• 1:03:03
  But from a Bitcoin perspective, I think he's doing all the right
• 1:03:06
  things in regards to like his his economy and where it's going
• 1:03:10
  to go. And I think this is a long term
• 1:03:12
  play. Of course, we'll see how this
• 1:03:13
  plays out in the future. But I also kind of want to
• 1:03:16
  double down on what you just said, Chris.
• 1:03:18
  I also have an anecdotal story of something similar.
• 1:03:22
  I was at the gym one time and I saw this kid.
• 1:03:25
  He was wearing the El Salvador soccer shorts.
• 1:03:28
  And so I sparked up a conversation and I didn't,
• 1:03:31
  didn't go so far as be like, yeah, I'm a big corner.
• 1:03:34
  This is why I care. I was just like, oh, yeah, you
• 1:03:36
  know, I covered the news a lot. And it's been very interesting
• 1:03:39
  to see what Naive but Kelly has been doing for El Salvador.
• 1:03:42
  And so I asked him, I'm like, what's your thoughts on Naive?
• 1:03:44
  But Kelly? And he's like, I love him.
• 1:03:46
  I, I for the first time have thought about moving back to my
• 1:03:49
  home country tree. And he was just super hyped.
• 1:03:52
  And that was a year ago. So I think there is a lot of
• 1:03:56
  anecdotal stories that are very similar that when you do talk to
• 1:03:59
  people from El Salvador, right, whether they're immigrants into
• 1:04:02
  the US or whether you go down to El Salvador and talk to them,
• 1:04:05
  they all have a very similar trend and a very similar love
• 1:04:09
  for Naibu Calais. And it does drive hope and it
• 1:04:12
  does make you feel that things are changing and it's going to
• 1:04:16
  be for the better. So again, you know, it's only
• 1:04:19
  been roughly three years since the Bitcoin legal tender status
• 1:04:24
  has been official in El Salvador.
• 1:04:27
  And now he's continuing to not only try to make that country
• 1:04:30
  safer, but trying to find financial independence.
• 1:04:34
  And I, I think these are powerful moves and obviously as
• 1:04:37
  a Bitcoiner and El Salvador being an example of what Bitcoin
• 1:04:41
  can do for your country, we want to see this continue, but also
• 1:04:45
  have a lasting impact on El Salvador.
• 1:04:47
  So I think it's very, very interesting.
• 1:04:49
  Bold move, especially considering that he announced
• 1:04:52
  that speech at El Salvador's Independence Day.
• 1:04:55
  Like this is where true independence come from is by
• 1:04:58
  having financial independence. Hence why we constantly tell
• 1:05:01
  everyone that watches our show that you want to take your
• 1:05:05
  Bitcoin into custody because this is the only way that you're
• 1:05:07
  going to be able to achieve financial independence.
• 1:05:10
  Get out of the rat race. Stop living paycheck to
• 1:05:12
  paycheck. This is the way guys.
• 1:05:14
  You need to save in Bitcoin. You need to opt out of the
• 1:05:16
  system. Make sure you're securing your
• 1:05:18
  own coins and taking your coins into custody.
• 1:05:21
  This is how we win this peaceful Bitcoin revolution.
• 1:05:24
  Jump in, Chris, before we wrap up today.
• 1:05:26
  Yeah. One last thing I wanted to add,
• 1:05:27
  like I'm not going to say that this was not, this was not an
• 1:05:30
  easy task by any means. I mean, obviously when El
• 1:05:32
  Salvador was getting into Bitcoin was obviously the
• 1:05:34
  announcement at Bitcoin 2021, you know, we kind of rode up to
• 1:05:37
  an all time high of I think like 64 K within around that time
• 1:05:40
  frame. And then we crashed down to as
• 1:05:43
  low as like $15,000. So he took a haircut of what you
• 1:05:46
  know, over 75 percent, 80% and, you know, he stayed the course.
• 1:05:49
  He stayed the path. I'm not saying it was easy by
• 1:05:52
  any means. I'm sure he had.
• 1:05:53
  Oh, I remember there was a ton of critics and people saying
• 1:05:57
  that it can't be done, it won't work.
• 1:05:58
  The IMF was funding him. You know, the Bank of
• 1:06:01
  International Settlements was calling him, you know, deranged
• 1:06:04
  and all those different things. And, you know, we're coming out
• 1:06:06
  on the other side of it. And we really hope that it can
• 1:06:08
  be prosperous and better for his country.
• 1:06:11
  Yeah. And like I said, one of the
• 1:06:12
  safest countries in in the Americas as well as probably
• 1:06:16
  even the world. So, you know, major props to
• 1:06:17
  him. And like I said, it was not an
• 1:06:19
  easy task by any means. Totally, totally.
• 1:06:22
  All right, man, Chris, I really appreciate you coming on the
• 1:06:25
  show. How about let's plug your
• 1:06:27
  Twitter real quick before I wrap up today's show?
• 1:06:30
  Where can people find you on the Twitter verse?
• 1:06:32
  Yeah, so you can find me on Twitter at Chris Alemo.
• 1:06:35
  And then the number six, you can also find me on Noster at Chris
• 1:06:38
  Alemo at B dot TC. So, you know, easy just to find
• 1:06:42
  me in as my NIT 5 identifier. I'm wearing the Damus hat for,
• 1:06:45
  you know, Damus, the iOS client. I love Primal Amethyst.
• 1:06:49
  There's so many great Nos. Wait, wait.
• 1:06:50
  Shout the hoodie. Shout the.
• 1:06:51
  Hoodie Oh yeah, I got the the ocean hoodie as well.
• 1:06:54
  You know, so I saw Bitcoin mechanic there as well today, so
• 1:06:57
  kind of repping ocean as well. But yeah, thanks as always Opie
• 1:07:00
  for having me. Thanks everyone for listening to
• 1:07:02
  me rant and I hope you guys had a good time today.
• 1:07:05
  Let's go. Appreciate it, Chris.
• 1:07:06
  Well, thanks for coming off the bench again.
• 1:07:08
  I'm sure we'll continue to do this in the future, but Chris,
• 1:07:12
  we'll put you behind the scene. Appreciate it, man.
• 1:07:14
  All right boys and girls girls and boys.
• 1:07:17
  This was episode 1076 for September 16th, 2024.
• 1:07:23
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• 1:07:28
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• 1:07:30
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• 1:07:33
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• 1:07:38
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• 1:07:40
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• 1:07:43
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• 1:07:47
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• 1:07:51
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• 1:07:55
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• 1:07:57
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• 1:08:09
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• 1:08:28
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• 1:08:30
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• 1:08:33
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• 1:08:35
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• 1:08:37
  We appreciate you guys on that note, have a good rest of your
• 1:08:40
  day, get outside, touch some grass, make sure you're calling
• 1:08:43
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• 1:08:45
  in. This is a way.
• 1:08:46
  Make sure you have a fit body, fit mind, and of course, fit
• 1:08:50
  wallet because you're stacking Bitcoin.
• 1:08:52
  All right guys, peace out. I will see you tomorrow.
• 1:08:55
  It's been a good show. I love you guys.
• 1:08:58
  See you on the other side. Bybitcoinwell.com a Bitcoin only
• 1:09:04
  platform on a mission to enable financial independence.