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$19B Bitcoin Liquidated! Is the Bottom In? | Simply SatoSHE · Simply Bitcoin

• 0:00
  Tariffs, sell off liquidations, Bitcoin and the S&P absolutely
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  tanked after Trump's surprise 100% tariff announcement on
• 0:10
  Chinese imports. 19 billion in crypto positions wiped out in 24
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  hours. The funny thing is, Trump walked
• 0:18
  back his devastating 100% announcement on Saturday
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  afternoon. So was this the beginning of the
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  bear? Or is this just another case of
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  price manipulation? The last time everyone called
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  Bitcoin dead during the China mining ban, it came back
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  stronger. And while traders panic, the
• 0:39
  whales are quietly buying massive amounts of Bitcoin.
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  So what comes next? Welcome back to simply Bitcoins,
• 0:47
  Satoshi. I'm Sophie.
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  We cut the noise and bring the signal.
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  Today we're answering the question every normie is asking.
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  Did Bitcoin just break or is it doing what it always does, shake
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  off the weak hands and keep building in the background?
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  Last Friday, on October 10th, Trump announced he was slapping
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  a 100% tariff on Chinese tech imports.
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  Wall Street panicked. The S&P had its worst day since
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  the last time this happened in April.
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  Then Bitcoin and crypto followed.
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  Almost immediately, over $19 billion in leveraged altcoin
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  positions got liquidated and Bitcoin dropped from 125,000 to
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  108 or even 104 and depending on which exchange you were looking
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  at. And then just as panic hit Max
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  volume over the weekend, Trump tweeted.
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  Don't worry about China, it will all be fine.
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  Highly respected President Xi just had a bad moment.
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  He doesn't want depression for his country and neither do I.
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  The USA wants to help China, not hurt it.
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  Markets immediately began to react towards the positive,
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  proving how sentiment can flip minutes.
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  Everyone's screaming it's over, but history says otherwise.
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  Let's go back in time for a SEC. China's mining ban in 2021
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  erased half the network overnight.
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  Prices collapsed, 50% hash rate cratered.
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  And yet, within months, Bitcoin was stronger, more decentralized
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  and hitting new highs. Honey badger don't give a shit,
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  just takes what it wants. It feels like this happens every
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  four years. Every cycle has is its end of
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  Bitcoin moment, The COVID crash, the FTX scandal, Mount Gox.
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  And yet every time it recovers because its fundamentals don't
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  depend on one company, 1 country or one policy.
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  Bingo. Even this weeks tariff panic and
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  reversal seem to prove how macro events are very temporary.
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  For the most part Bitcoin doesn't issue tweets, it just
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  keeps going. You know the saying tick tock
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  next block. Bitcoin doesn't need any special
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  privileges or help by the state. Bitcoin's going to win because
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  of its incentives and because of its characteristics.
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  Well, that's correct. I would just add that
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  governments need Bitcoin. So that's that's absolutely
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  true, but it's not the reverse. And so I think that people get
• 3:30
  confused. They think that we're somehow
• 3:32
  lobbying for special favors when really what we're doing is we're
• 3:36
  lobbying for the public interest, right, which is that
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  as citizens of this country, we want a government that that is
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  not dysfunctional. We want a government that is
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  actually, you know, performing its duties.
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  Now we can get into a debate about anarcho capitalism versus
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  minarch ISM and all of that. I don't think that the general
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  public is interested in that debate.
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  You know, we kind of have to accept that reality as well and
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  look at what's what's good for the the Commonwealth.
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  When traditional markets wobble, people rediscover why hard
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  assets like Bitcoin exist. peer-to-peer borderless money.
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  No central gatekeeper. With Bitcoin you can move
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  liquidity 24/7 while on a Fiat standard.
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  Banks, exchanges or governments restrict access, sometimes even
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  during hours of operation. Let's be real, they're super
• 4:25
  annoying to me. Bitcoins utility becomes more
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  obvious when markets seem to fail.
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  Sure, the momentary dump is a shock.
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  I've got to get out of here. I've got to get out of here.
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  Down. Get a hold of yourself.
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  But in the long run, while politicians talk tariffs and
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  tweet reassurances, Bitcoin just keeps doing its thing, which is
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  settling value between people directly.
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  Listen to the Go Max Keiser explain why Bitcoin is superior
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  to both gold and Fiat matter. Of fact, let me explain why
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  Bitcoin is a superior form of money than gold.
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  OK, I'll do that right now. Both Fiat money and gold are
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  inferior to Bitcoin for one very simple reason, that with a
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  Bitcoin transaction, it is also simultaneously the settlement.
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  You don't have that with Fiat, you don't have that with gold.
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  If I do a transaction in gold, the gold has to be verified.
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  If I do that in Fiat, that Fiat has a verification level.
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  And we see that in the repo market because banks don't trust
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  each other. Repo rates are skyrocketing
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  because you have to settle these trades unless it until a trade
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  is settled, it doesn't really count with Bitcoin.
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  When you do a Bitcoin transaction, the the transaction
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  is the settlement. It is the settlement.
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  That's what makes it better money than gold or Fiat.
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  It's just as scarce. It's just as divisible.
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  It's just as portable. It's just as desirable, except
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  it has a built in settlement layer.
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  It's as part of the transaction. That's what these freaking guys
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  don't understand. Like, you know Peter Schiff,
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  he's completely clueless when it comes because he's never spent
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  even 5 minutes looking at it. He just mouths the same thing
• 6:00
  over and over and over. Again, OK, OK, Max, we got you.
• 6:04
  Before we dive into what's really driving Bitcoin adoption
• 6:07
  beneath the market chaos, here's how to make your Bitcoin
• 6:11
  actually work for you safely. If you're stacking stats, you
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• 6:55
  selling. When you sign up with Simply
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• 7:01
  Learn more at learn dot leadin dot IO.
• 7:04
  Simply now, let's get back to the show.
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  I did say Bitcoin, because we were talking about Bitcoin then,
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  was the domain of money launderers and thieves.
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  But you know, the markets teach you.
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  You have to always relook at your assumptions.
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  There is a role for crypto in the same way there's a role for
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  gold. That is, it's an alternative.
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  Did Larry Fink just admit that he was wrong about Bitcoin for
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  years? And that quote there is a role
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  for Bitcoin the same way there is a role for gold.
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  Rumors on acts are even speculating that BlackRock might
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  have even been openly buying this dip.
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  Donald Trump was also revealed in Forbes article to now be one
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  of the largest Bitcoin holders on the planet.
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  And at the state level, Detroit, Texas and Colorado are all
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  building strategic Bitcoin reserves or tax payment
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  programs. That's massive.
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  If you have permissionless control under underlying
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  property, to your point, that sounds like you're now
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  sovereign. You're now a group of people
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  running code, so agreeing to a rule of law, funding, paying
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  fees to power projectors to defend your access.
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  You're now creating an A, a new sovereign organization, a new
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  sovereign group of people. So in my opinion, Bitcoin is not
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  just property, it's the whole, it's the whole stack, it's the
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  whole tech stack. It's the government, it's the
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  military, and it's the money and the property.
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  And the least impressive part in my opinion is the money and the
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  property, because any Joe Schmo can build some shit coin.
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  But to build a badass power projection military defense
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  architecture over that, to preserve permissionlessness and
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  sovereignty over that property is the beautiful thing.
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  But let's zoom out, because Bitcoins fundamental power has
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  always been about people. peer-to-peer adoption, the
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  freedom to transact directly without asking permission from a
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  bank, an exchange or a government.
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  That's the heartbeat of Bitcoin. Bitcoin is Internet money.
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  It's a system of money that exists on the Internet, was
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  created on the Internet, and it allows you to send and receive
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  value the same way you can send and receive an e-mail anywhere
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  in the world instantaneously without intermediaries.
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  And that's kind of what you see at first glance behind that.
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  It's a whole platform. It is, as the title of the book
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  says, the Internet of money. It is.
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  It is a set of protocols that allow you to basically exchange
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  value with other people, but you can do a lot more with it than
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  just that. Most people will use it as a
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  currency. It's basically money that you
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  can transmit from your smartphone to somebody else's
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  smartphone directly. Just like cash, but electronic.
• 10:12
  That was Andrea Santanopoulos, 1 of Bitcoins, Ogs and original
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  educators spreading the signal before most of us even knew what
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  a Satoshi was. His message still hits today.
• 10:24
  While institutions like BlackRock and Trump make
• 10:27
  headlines for number go up and down, we can't ignore the action
• 10:32
  happening on the streets. Jack Dorsey Square just opened
• 10:36
  Bitcoin payments for 4 million merchants.
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  Instant, no fees for the first year and lightning fast because
• 10:44
  it uses lightning. Ha ha.
• 10:46
  It's a pun, but. This is no time to be laughing.
• 10:49
  Whatever, I'm moving on. Gemini Unfold are turning
• 10:52
  everyday purchases into Sats and my favorite story, wallet of
• 10:57
  Satoshi is back in the US giving people true self custody again.
• 11:02
  So yes, the big names might drive the headlines, they might
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  even drive the market, but the network is continuing to grow
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  peer-to-peer. That's Bitcoins origin story and
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  it doesn't change, it just keeps moving forward.
• 11:17
  These are the steps towards true hyper for Bitcoinization and to
• 11:21
  be honest, you might just not be bullish enough.
• 11:24
  Before we wrap, let's talk about where the signal meets the
• 11:28
  machines that power it all. Mining Disrupt 2025 is almost
• 11:33
  here and you don't want to miss it.
• 11:35
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• 11:40
  November 11th through the 13th. The biggest names, next
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• 11:47
  It's the signal you won't get anywhere else.
• 11:50
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• 11:54
  we'll see you there at Mining Disrupt 2025.
• 11:58
  So yeah, the market crashed for a little bit, but did Bitcoin
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  survive? For now, Absolutely.
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  Tariffs, bans, tweets and policy pivots.
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  This asset was literally built to withstand chaos.
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  If anything, every crisis just reminds people why hard assets
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  like Bitcoin exist. So what do you think?
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  How long till it recovers back to all time high?
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  Drop your prediction in the comments and let's see who nails
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  the bounce. That's it for my show today.
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  Don't forget to like, subscribe and share the show with a friend
• 12:35
  who thinks it's over. We love to turn skeptics and the
• 12:39
  non believers. I'm Sophie.
• 12:41
  This is simply Bitcoin, Satoshi, and until next time, stack, slay
• 12:45
  and stay bullish baby.