Latest / Simply Bitcoin / The Bitcoin ETF Will Take Bitcoin to $1 Million | EP 904

Transcript

The Bitcoin ETF Will Take Bitcoin to $1 Million | EP 904 · Simply Bitcoin

0:03
It's. All going to zero against
0:06
Bitcoin. It's going up.
0:08
Forever. You're against Bitcoin.
0:17
You're against freedom. Yo, welcome to another episode
0:22
of Simply Bitcoin Live. We're your number one source for
0:24
the peaceful Bitcoin revolution. Cover breaking news culture.
0:27
Matic Warfare will be your guide through the separation of money
0:30
and state. Today we're going to break it
0:33
down. Vanguard going on MSNBC
0:38
basically saying that they are not going to allow their
0:41
customers to buy the Bitcoin ETF.
0:44
The reasonings, the the reasons that the CEO said don't quite
0:49
make sense. I tweeted this out, you know,
0:51
over the weekend when I saw that interview, I said this guy is
0:55
going to get fired for this, you know, three or four years down
0:58
the road as a number go up, technology does its thing.
1:03
And I think, you know, their clients are going to be very
1:05
upset. I think they're going to
1:07
capitulate way before that. I think market forces are what
1:11
market forces are. The example that I always bring
1:13
up is initially when PayPal started to offer Bitcoin, they
1:17
didn't allow Bitcoin withdraws and within six months because of
1:22
cash apps volume, they were forced to add Bitcoin withdraws
1:26
right and allowing people to take self custody.
1:28
Not not to mention it wasn't only PayPal, it was Robin Hood
1:31
as well. So if your competitors are
1:33
offering a better service as a company, for you to survive,
1:37
you're gonna have to compete, right?
1:39
So I think that's a momentary thing.
1:41
And another thing, we're also gonna go through Kathy Wood's
1:45
investment newsletter. She sent this out a while ago.
1:50
But I really believe if you are to take into account what
1:54
Michael Saylor said were the three things that were necessary
1:57
for Bitcoin to 10X from here for Bitcoin to potentially hit
2:01
$5,000,000 per coin one day, which was the approval of the
2:05
spot Bitcoin ETF. The change in the Fasby
2:09
accounting rules making it a lot easier for companies to hold
2:12
Bitcoin on their balance sheet and for large banks to offer
2:17
services to their clients to custody Bitcoin.
2:21
Basically, the first two things already happened and the third
2:24
thing banks all over the world, not only in the United States,
2:27
are applying for those licenses. So we're going to give you a
2:30
Bitcoin ETF update. What is what is Bitcoin Twitter
2:34
saying? What are they talking about?
2:35
And of course, during the culture segment, we have some
2:38
very, very special guests. Today we have the fellas from
2:41
Bitcoin Day, Naples have John back.
2:45
Gentlemen, thank you so much for joining us on Simply Bitcoin.
2:47
How you guys doing? Doing great.
2:51
Glad to be here. Happy to have you guys on the
2:54
and of course my legendary Co host.
2:56
He is always optimistic. He has a smirk today.
2:58
Not a not a full-fledged smile but a smirk.
3:01
How you doing Opti? Doing great, man.
3:04
Doing great. Another day in paradise.
3:05
Doing. Doing what we love.
3:07
This is awesome. No suit today.
3:08
What's going on? Dude, I don't even own a suit,
3:11
bro. I'm wearing a nice cashmere
3:13
sweater. It's it's snowing outside.
3:15
It's it's a little colder today, So I'm.
3:18
I'm trying to stay warm, you know.
3:20
OK. OK.
3:21
Fair enough. Fair.
3:22
Enough, but on that Onigo, maybe I have to actually buy a suit
3:25
now. You guys, you guys are trolling
3:26
me. I literally got bullied on
3:28
Friday into buying a suit and tie.
3:30
Like this is where we are in the cycle.
3:32
I'm getting bullied to wear a suit now.
3:33
I mean, just Rustin during the Simply Bitcoin Originals man.
3:37
He's just, he's looking fly. People are really liking the
3:40
tie. They're really liking that
3:42
cleaned up. Professionals now.
3:44
So we just gotta keep stepping up our game, Opti it looks like.
3:49
Wonderfully so. Hey, we don't have a problem
3:50
with the cold down here, Opti. We're 75° and sunny.
3:56
It's a It's a nice day today. I'm actually jealous right now.
4:00
Yeah, it's. It's.
4:01
Come on down to Victory Day, Naples and enjoy the sunshine.
4:04
Exactly, exactly. You could always, if you know
4:06
the the Florida, the Florida weather is just absolutely
4:10
amazing year round. I always tell people, look, it's
4:13
either really hot and then there's like about a month or so
4:16
where it's like not as hot. That's pretty much the seasons.
4:21
There are no seasons. It's just hot.
4:23
And then not so hot. But anyways, guys, we have a lot
4:27
to talk about today. It's gonna be a hell of a show.
4:29
Excited for this one. Let's get it started.
4:32
Let's get it rolling. Here we go.
4:35
That's the wrong one. Let's try this one.
4:39
The Bitcoin numbers. Is your Bitcoin and cold storage
4:43
really secure? Is your seed phrase really
4:46
secure? Stamp seeds?
4:47
Do it yourself. Kit has everything you need to
4:50
hammer your seed words into commercial grade titanium plates
4:55
instead of just writing them on paper.
4:57
Don't store your generational wealth on paper vapors prone to
5:01
water damage. Fire damage.
5:03
You want to put your generational wealth on one of
5:05
the strongest metals on planet earth, Titanium.
5:09
Your words are actually stamped into this metal plate with this
5:12
hammer and these letter stamps. And once your words are in, they
5:15
aren't going anywhere. No risk of the plate breaking
5:18
apart and pieces falling everywhere.
5:21
Titanium stamp seeds will survive nearly triple the heat
5:24
produced by a house fire. They're also crush proof,
5:26
waterproof, non corrosive, and time proof.
5:29
All things that paper is not allowing you to huddle your
5:32
Bitcoin with Peace of Mind for the long haul.
5:35
Stamp your seed on stamp seed. Guys, before we jump into it, if
5:41
you're enjoying the show, make sure to smash.
5:43
That like button really, really helps with the YouTube algos
5:45
also made. I'm making it incredibly easy
5:48
for you guys. You can scan the QR code on your
5:50
screen right now, take you directly to the Stamp Seed
5:52
website. You can use the promo code
5:54
simply to get 15% off anything on their website.
5:58
Don't store your generational generational wealth on paper,
6:01
store it on titanium. All right guys, at the time of
6:04
recording, the Bitcoin price is 42,620 stats per dollar, 2346
6:11
block height 825,909 blocks to having 14,091 having estimate
6:19
April 20th, 2024. Total Lightning Network capacity
6:22
4817 Bitcoin capacity value 205 million U.S. dollars realized
6:29
monetary inflation 1.75%, The market cap of Bitcoin, $835
6:35
billion. Bitcoin versus gold market cap
6:38
6.07%. That's going to continue to go
6:42
up. You know the day that that
6:44
crosses 100% and it's sitting pretty at like 110 percent,
6:47
125%, I think that's going to be a really, really good day.
6:50
Anyways, Wall Street is advertising for Bitcoin and they
6:55
continue to drop ads, essentially.
6:59
Here's one from BlackRock and let's take a look at their
7:03
marketing. Let's check it out.
7:05
Here we go. Digital asset adoption has
7:08
significantly accelerated over the past decade, with profound
7:11
implications for the future of finance.
7:14
Bitcoin is the original cryptocurrency to gain global
7:16
adoption and has continued to maintain its dominance despite
7:20
thousands of others coming into existence.
7:23
You might have noticed Bitcoin make its way into our everyday
7:25
lives. From Bitcoin ATMs to various
7:27
merchants accepting Bitcoin as payment, further driving
7:30
interest in what the future holds for the cryptocurrency,
7:34
investors have taken notice as an institutions and individual
7:37
investors alike have been adopting Bitcoin into their
7:40
investment portfolios, with some viewing it as a potential store
7:44
of value and others as a potential game changer in how
7:47
money moves around the world. But for many investors, holding
7:52
Bitcoin directly can be complex. That's why we launched IBIT.
7:56
The iShares Bitcoin Trust and ETF that provides investors
8:00
convenient exposure to Bitcoin. Here are three things to know
8:04
about IBIT Access. IBIT enables investors to access
8:09
Bitcoin within a traditional brokerage account, just like
8:12
stocks, bonds, and other ETFs. Convenience IBIT can help remove
8:17
operational burdens associated with trading and holding Bitcoin
8:21
directly, as well as potentially high trading costs and tax
8:24
reporting complexities. Quality IBIT is built by
8:29
BlackRock, a leading ETF firm with expertise across ETFs and a
8:33
history of innovation. It is a new day for Bitcoin.
8:37
Access IBIT through your online brokerage or discuss with your
8:40
financial planner to find out how IBIT can fit into your
8:43
portfolio. I mean.
8:46
Visit www.ishares.com to view a prospectus which includes
8:50
investment objectives, risks, fees, expenses and other
8:53
information that you should read and consider carefully before
8:55
investing. Like, I mean like very, very
8:58
cookie cutter, very straight to the point.
9:03
They're really, really taking this seriously.
9:04
And if you actually go to the BlackRock website right now,
9:08
it's literally on the front page.
9:11
Ladies and gentlemen, introducing I bit the iShares
9:14
Bitcoin Trust ETF. It is if you go to blackrock.com
9:18
right there on the front page and it's literally telling you
9:22
what's going on. So they're taking this very,
9:24
very seriously, this roll out. And of course this wouldn't be,
9:28
you know, this wouldn't, this wouldn't be happening if there
9:31
wasn't, you know, a market need if people weren't asking for
9:34
this. Here's the Vanek ETF.
9:37
Vanek has by far my favorite ticker.
9:40
The ticker is Huddle, I think. Also, by the way, I think the
9:46
accounts followed the Simply account on Twitter.
9:48
So shout out to those guys. But they're also apparently
9:51
giving a percentage of what they make off the spot Bitcoin ETF
9:56
fees, and they're giving that back to open source software
10:00
developers, right? So that's crazy.
10:02
And this kind of goes to this narrative that I think bit
10:08
corners have been propagating for a while.
10:10
And I actually tweeted this out a couple months ago, which is, I
10:12
said Wall Street thinks it's going to change Bitcoin, but in
10:17
reality, it's going to be Bitcoin that changes Wall
10:19
Street, right? No one's better than their
10:21
incentives. And I think Bitcoin has the best
10:23
incentives, right? Anyways, and I think Fiat has
10:26
the worst incentives, which I think it brings out the worst in
10:29
people, brings out the worst of these institutions.
10:32
That's why bitcoiners fundamentally believe that if
10:34
you fix the money, you fix the world anyway.
10:36
So here is Venex, latest, you know, Bitcoin ETF commercial.
10:40
Let's check it out like that is totally a conversation that
10:52
would happen, right? How can I view Bitcoin?
10:54
It's easy. Now there are ETFs search the
10:56
ticker huddle in your brokerage account.
11:00
So obviously, you know, I got to say that these, these
11:05
advertisements are tailored towards, you know, the older
11:08
generations specifically, you know, I would say the Gen.
11:12
X generation, the Boomer generation and those are the
11:16
generations that have the lion's share of the world's wealth.
11:20
So I think this is a total game changer.
11:22
I think that if Wall Street is coming in and they're spending
11:25
millions of dollars on advertising, they're definitely
11:29
taking this very, very seriously.
11:31
But I want to pass it on to you 2 gentlemen, John.
11:34
Are are you know, you're you're a hardcore bitcoiner, man.
11:37
You know you don't need an ETF. I know you by now.
11:40
So what are your thoughts on these commercials?
11:42
Do you think that they're effective?
11:43
Do you think that they're going to convince you know, family and
11:46
friends around you that perhaps aren't hardcore bitcoiners like
11:49
yourself? Yeah.
11:51
Well, I think it's I think it's an important step in in our goal
11:55
of of mass adoption of Bitcoin. And you know the all these
12:01
institutional investors and and family offices, they have been
12:08
you know constrained by the regulatory environment and this
12:12
gives them the option to at least have some Bitcoin in their
12:16
portfolio and you know not necessarily the have it in self
12:21
custody, but that's you know that's just a step in the right
12:24
direction in my opinion. Gotcha, gotcha.
12:28
What about you, Jack? What are your thoughts on all
12:31
this? It's pretty fascinating to see
12:35
it. And I I got to just give you the
12:37
anecdote like I I have a neighbor who you know of like
12:40
maybe as far as like 2 weeks ago.
12:43
That's way back in history of course.
12:45
And I mentioned something about Bitcoin.
12:47
She's like, Oh, yeah, that, that's that guy that went to
12:49
jail for that thing, that FTX bit.
12:51
Right. And I'm like, yeah, it's yeah,
12:54
that kind of thing. And then a week or so goes by
12:57
and all of a sudden I think she saw an ad somewhere.
12:59
I can't remember what it was. And then she's like, oh, you
13:01
know, they're recommending a certain percentage of My
13:03
Portfolio all of a sudden. And she's a boomer type and a
13:07
kind of a cool traveler of the world and stuff.
13:10
And yet she hadn't really been exposed to it at all other than
13:12
what the media had been throwing down.
13:14
So I guess I'm feeling like it's kind of a cool thing, I guess
13:18
that some of the awareness comes up, even though I have a feeling
13:21
that it's just going to be propaganda style, you know,
13:25
misdirection, you know, always sort of tailored to kind of
13:29
answer to like or I guess direct people or stare them out into a
13:33
particular corner, which may or may not be the spot to go.
13:39
Yeah. And and and I think as bit
13:40
corners, we really have that responsibility to, you know,
13:44
tell people that, you know Bitcoin, not ETF, right.
13:48
And I think, you know, and it wasn't my words, I think there's
13:52
a Corey Clipson, CEO of Swan actually said this.
13:55
I think basically that the ETF and I actually tweeted this out
13:59
too. I made a meme out of it that the
14:01
ETF is really like a Trojan horse, right.
14:03
I think that it gets people's foot in the door.
14:06
It gets people comfortable holding the asset.
14:09
But I think it's also gonna make you start to ask questions,
14:13
right? Because if you have the ability
14:16
to self custody it, you don't have to pay those fees, right?
14:19
Those fees you don't have to pay anymore.
14:22
There is no counterparty risk. There isn't a risk of the US
14:25
government. If it gets in a pickle or you
14:28
have a hostile administration, you know there is no risk of a
14:31
spontaneous executive order. This has happened in the past
14:35
with gold, right? That you know, could confiscate
14:38
all that Bitcoin, could seize all that Bitcoin.
14:40
If you take self custody, you don't have that counterparty
14:43
risk. And I think as bitcoiners we do
14:46
have that responsibility to really beat that battle drum and
14:49
really get it into the minds of everyone, not, you know, every
14:53
every generation, right. But I think this is AI think
14:57
this is a net positive that might be unpopular with all the
14:59
bitcoiners because a lot of bitcoiners are like no, Nico,
15:01
these ETFs, they're they're they're demons.
15:04
They're you know they're they're spawn from from hell.
15:07
But I I think, I think it's a good thing.
15:09
I think it's going to potentially give the generation
15:14
that has the lion's share of the wealth right now exposure to
15:18
number go up technology and I think that's a good thing in my
15:22
opinion. Opti, what's your take on all
15:24
this? Yeah, I mean first and foremost
15:26
I just want to as content creators I want to talk about
15:29
the content first and foremost and man the BlackRock video,
15:36
it's so cookie cutter and corporate and just like boring.
15:39
But it just amazes me that that's the type of content that
15:43
that gives people, I don't know security and and they feel good
15:46
about investing in a product. But so hey look you know we're
15:50
hitting this on all angles and shouts out the vanic they, I
15:53
think they really know how to put out a good ad and and you
15:56
can see from that little video that who their ideal audience
16:01
is. It's definitely you know like
16:02
our parents and and people that have you know their money in
16:06
traditional finance And another little anecdote I did talk to my
16:10
dad yesterday and and he's a boomer.
16:13
He always kind of tells me about like the silver price is moving
16:16
up and he has gold and you know so he he knows a little bit
16:20
about hard money and at least some investments.
16:23
And he was asking me he's like, yo, what's this?
16:24
Like I I even think he's he said it wrong.
16:27
He's like what is this like SEEC stuff going on right now.
16:30
And I was talking about the the spot Bitcoin ETF and how this
16:34
kind of gives us some sense of legitimacy and opening up so
16:37
much capital to finally flow into Bitcoin.
16:39
And after like you know a a minute of just me kind of
16:42
explaining it, he he understood what we understand.
16:45
It's like, wow, OK Like this is going to open up so much capital
16:48
coming into Bitcoin. And like John said, this is just
16:52
the first steps. Like, yes, people want exposure
16:55
to Bitcoin. Most people out there just kind
16:57
of want the number go up, price appreciation.
17:00
And then slowly but surely people will, either through hard
17:03
lessons or just kind of curiosity, will understand that,
17:07
oh, wait, I don't need to just get exposure through Bitcoin.
17:10
Yes, as the BlackRock video said, this does give them some
17:15
convenience in actually holding Bitcoin and of course opens up
17:19
the avenues for them to get their capital into Bitcoin
17:22
through traditional financial means.
17:24
I think more and more people will want to hold Bitcoin
17:28
directly, even if it's just a small amount of their capital
17:32
will eventually get into cold storage.
17:34
Right now, this is just the first steps.
17:36
This is just so people can get exposure to Bitcoin.
17:39
This is kind of like what you're seeing with that BlackRock
17:41
video, that it's just like kind of, I don't know, wetting their
17:46
appetite for what Bitcoin is and showing that, oh hey, OK, it is
17:51
safe for me to invest in Bitcoin.
17:53
It is an OK investment. If BlackRock is looking at
17:56
Bitcoin, not only does it mean that other that their customers
17:59
want Bitcoin, but that it is actually a vehicle for them to
18:03
put money into it. So I think this is all good.
18:06
Of course, as bitcoiners we want people holding Bitcoin.
18:09
We want people transacting with Bitcoin directly peer-to-peer.
18:12
But I think this is just the first steps of this and and
18:15
again, this is all good for Bitcoin and and we knew this was
18:18
gonna happen. Like if Bitcoin can't withstand
18:20
Wall Street, what are we even doing here?
18:22
This this was an inevitability as far as I'm concerned. 100% I
18:26
completely agree with you. You know all roads lead to
18:29
Bitcoin. This is inevitable.
18:31
You know it was BlackRock that bend the knee.
18:34
Vanguard is next. And then nation states it's
18:37
going to be crazy. That's because Bitcoin's
18:39
incentives are superior to everything else.
18:42
Anyways, ladies and gentlemen, let's get to the news.
18:44
We have a lot to talk about today.
18:45
Let's check it out. Here we go.
18:47
I want to give a shout out to our sponsor.
18:49
Have you ever? Wanted to get into Bitcoin
18:50
mining and don't know where to start.
18:52
That's why I want to introduce you to Scott's Build a Mine Boot
18:56
Camp. He will show you how to build
18:58
your own Bitcoin mine, how to get the project funded, how to
19:01
get your facility filled with miners as quickly as possible.
19:05
With a little luck, and by putting all his techniques and
19:07
strategies to work that he's developed mining Bitcoin for the
19:10
last. Six years you could.
19:11
Be mining 5 million Satoshi's per day or port 05 Bitcoin in
19:16
less than three months on the free webinar.
19:19
He will give you a high. Level road map that will help
19:22
you get on your way to building, owning and operating your own
19:26
Bitcoin mining farm. Begin your mining journey today.
19:30
Register for the free webinar now.
19:32
Click the link in the description of the video below
19:35
or contact Scott directly on Telegram using his handle at
19:39
Offered Scott and learn how to mine those precious precious
19:42
Satoshi. 'S.
19:45
The Daily News. I want to give a shout out to
19:49
our sponsor, Foundation Devices. It's self custody done right.
19:53
They built a premium grade hardware wallet called Passport
19:57
right here in the US. It's fully open source and
20:00
verifiable. It's the most intuitive Bitcoin
20:03
wallet designed with the UX, reminiscent of a simple feature
20:07
phone. So you will know how to navigate
20:09
it and use it the moment you pick it up.
20:11
Get your Bitcoin off exchanges and into your into your own
20:14
hands in just a few minutes. Experience the Peace of Mind
20:17
that comes with taking ownership of your own keys.
20:20
After a massive sell out during Bitcoin Miami 2023, the passport
20:24
is back in stock at foundationdevices.com.
20:28
Bitcoin only, open source, verifiable completely air gap,
20:31
security model, gorgeous design, craft, premium grade materials
20:35
if you're thinking about getting your Bitcoin off exchange.
20:38
Changes. This is the one for you.
20:40
Check out the passport link in the show notes below to learn
20:43
more as we have to talk about today.
20:46
And before we do that, I mean, it's super easy for you guys.
20:49
Scan the QR code right now. It'll take you directly to the
20:51
Foundation Devices website. You can get yourself a Passport
20:54
hardware wallet. Remember guys, not your keys,
20:57
not your cheese. All right, everybody.
20:59
So it's, it's, it's it's two different stories.
21:04
It's really two different stories from the largest asset
21:06
managers in the world, right? You have Vanguard with 7.2
21:10
trillion assets under management and then you have BlackRock with
21:15
9.1 trillion, right. So and the CEOs are talking two
21:20
different things. They're saying two different
21:21
things. They're approaching Bitcoin
21:23
differently. But I think market incentives
21:25
are going to do what market incentives do.
21:27
Here's the latest, one of the latest interviews with Larry
21:31
Fink on Fox Business. Let's check out what he has to
21:34
say for Bitcoin. He may.
21:35
I mean, I know you can't call Larry Fink A bitcoiner, but you
21:41
know what? What's the, what's the famous
21:43
saying, right. The enemy of your enemy is your
21:45
friend. You know, he he's he's talking
21:49
the talk, he's he's making the case as to why, you know,
21:52
Bitcoin is a good thing. So anyways, I'm gonna play you
21:55
guys the video and then we'll talk about it.
21:57
I I see that the minute Larry Fink put he's a premature on
22:00
this. We're gonna explain you don't
22:02
have to take credit for it. Is it you that push this because
22:05
Hensler hates it? I mean, they were dragging the
22:07
feet. There are still a lot of people
22:08
hate it so, but I. Still hates it.
22:10
Apparently so I'm going to talk about Gary, but but I did
22:15
believe and it still remains in this, in Gary's position that
22:19
it's still a one of the vehicles for illicit activity.
22:22
So I think no one can deny that where I came around to it, and
22:26
it came around to a different interpretation three years ago,
22:31
that there's a lot of merit to it.
22:34
There's a lot of opportunity. It is a great store and this
22:38
where you get debate. Is it a good?
22:39
Store. Do you know how it's made?
22:40
A bunch of computers. But there's only but the issue
22:43
is that people believe that it can be an asset that can be
22:48
crossed border. And let's be clear.
22:51
If you're in a country where you're fearful of your
22:53
government, and maybe this is one of the reasons why China has
22:57
banned it. If you're in a government where
23:01
you're If you're in a country where you're fearful of your
23:03
future, fearful of your government, or you're frightened
23:07
that your government is devaluing its kind of currency
23:10
by too much deficits like us, I'm not going.
23:13
To go there, a little elephant. You could say this is a great
23:21
potential long term store of value and it as I said it's like
23:25
digital gold and I and I. Believe, but you still can't buy
23:29
a slice of pizza with it. But you can't buy a a price of
23:34
pizza with Palladium or or gold. No, But yeah, you can do stuff
23:40
with them. I can get stuff with.
23:41
I mean, people use gold for for stuff, right?
23:44
But people, you could. Buy and sell your Bitcoin.
23:47
No different than gold. So it is very.
23:49
But gold is put in like jewelry, jewelry and and any iPhones I
23:53
think there's there's in some electronics.
23:55
There's more silver but. Usually what I'm saying it's
23:58
there are practical nuisance Bitcoin.
24:01
It's literally a Ledger. It is a Ledger and but it's a
24:04
international Ledger. It's cross-border it.
24:08
It's over. It's it's bigger than any.
24:11
Government. I see.
24:12
I agree with you. It it it would have blown up.
24:15
I believe in FTX and it didn't after FTX.
24:19
Yes, there are a lot of bad players in all the start up
24:22
things and this was a great example, but I think it's now
24:25
becoming more legitimatized, right?
24:27
I think the advent of Bitcoin ETS is an example that we're
24:31
legitimizing it. We're creating more safe well.
24:34
Let me ask you this, will you do another ETF?
24:36
How about an XRPETFI Know you got?
24:40
OK. Well, and the answer to that,
24:42
obviously based on Larry Fink's like word, I'm sorry, not Larry
24:46
Fink's, Gary Ganzer's wording and whatever, is that, you know,
24:49
all these all coins are considered, you know, securities
24:52
and whatnot. So I think that's a higher, you
24:55
know, uphill battle. And as much as Gary Ganzer did
24:57
not want this ETF to be approved, he's admitted publicly
25:00
in the past that Bitcoin is not considered a security in his
25:03
eyes anyways. The fact that you had the Fox
25:07
Business anchor on the side of on the side of anti Bitcoin and
25:13
then you had Larry Fink who is the CEO of the largest asset
25:17
manager in the world, $9.1 trillion assets under management
25:23
and he's defect. He's making the case that
25:26
bitcoiners have been making for years now if you live in a
25:29
country with a totalitarian regime.
25:31
He didn't say the quiet part out loud though.
25:33
If you live in a country with high inflation, right, he talks
25:37
about it being digital gold. He talks about it being you
25:41
know, a way, a way to maintain your your value, right?
25:45
He he was protecting it. He was advocating for it right?
25:51
And at the end of the day, is it because Larry Fink's a hardcore
25:53
bitcoiner? Do I think Larry Fink is taking
25:55
self custody himself and he he owns the stash?
25:58
Absolutely not. But this is bitcoins
26:01
irresistible incentives doing what?
26:04
Bitcoins irresistible incentives do.
26:08
So this is massive. Like I can't, I can't, I can't,
26:13
I can't say that enough. The fact that it's Larry Fink,
26:18
OK, ladies and gentlemen and one of the most influential,
26:21
powerful people in the world, which is the one of the reasons,
26:23
by the way, that the ETF got approved in the 1st place.
26:26
I think if you look at it statistically, like it's like
26:29
300 ETF submissions by BlackRock and only one got denied, like,
26:33
you know they don't. BlackRock like owns a large
26:37
percentage of every stock, publicly traded stock.
26:41
This guy has tremendous influence and the fact that he's
26:44
on TV advocating for Bitcoin is a really, really, really big
26:49
deal. And let's take a look at this
26:53
here is NVKNVK is the CEO and founder of Coin Kite.
26:57
I think they make a cold card and he goes on to say the Wall
27:01
Street boys are going to stack harder than you think and they
27:04
are used to robbing retail blind right here.
27:08
BlackRock already looks like they have purchased a
27:11
considerable amount of Bitcoin, half a billion dollars.
27:16
And of course, you know they're they, they have a, they have a
27:18
small cash position as well and apparently I think it's around
27:22
10,000 Bitcoin or so around there.
27:26
But I will say this, and I think a lot of people were expecting
27:32
and and you know, a lot of people on Bitcoin Twitter,
27:34
including bitcoiners, were like once this get approved, once
27:37
this gets approved, the price of Bitcoin is going to go to 60.
27:40
Ki think they frant ran this thing.
27:44
I think that explains the run up from I think we were like 26 K
27:48
and then we went all the way to 45 K You want to know why we did
27:51
that? I think it's 'cause.
27:53
I think 'cause I think 'cause they frant ran it.
27:55
I think that they knew that this was going to get approved and I
27:58
think insiders, you know we're buying Bitcoin on the run up and
28:02
then it kind of became to be honest with you guys, I know
28:05
people were expecting the opposite.
28:07
It did become a sell the news event right.
28:09
We did drop from like 48 K and now we're holding steady at 40
28:13
two $42,617.00 right here is invest answers.
28:19
He has the specifics. It says BlackRock took 11,500
28:23
Bitcoin from supply in two days. 900 Bitcoin are issued daily and
28:27
you could see black rocks move into their cash supply from last
28:31
night into Bitcoin buying the dip.
28:33
Now they mostly hold Bitcoin. The key point is 11,500 Bitcoin
28:37
were sucked from the system in two days by one player.
28:40
That alone is approximately 13 days of the supply.
28:44
Ladies and gentlemen. I can't emphasize how important
28:48
this part is. And the reason for that is
28:50
because in any other like you know commodity, like if you're
28:54
talking about gold or silver or any of those players, if the
28:58
price of bit of the price of gold or silver goes up, a lot of
29:03
gold miners and silver miners are going to ramp up their
29:06
operations to meet up that new demand.
29:10
But because of Bitcoin, the way it's designed, because of the
29:13
halving, right, that this is just before the halving, right?
29:18
Even if people wanted more Bitcoin every four years,
29:25
roughly that supply gets cut in half.
29:28
And you kind of understand how bonkers things can get very
29:31
quickly. No other asset on planet Earth
29:34
has that. That is unique to Bitcoin.
29:37
No matter how much demand there is, it does not matter.
29:42
The issuance gets cut in half every four years until the year
29:46
2140, and that's it. You can't manipulate that.
29:50
You can't change that with gold. There's asteroids floating
29:54
around in the asteroid belt that theoretically, scientists say
29:58
have trillions of dollars within them, right?
30:00
There is. I guarantee you there's no
30:02
asteroids floating around in outer space with trillions of
30:05
dollars worth of Bitcoin. But there's been different
30:08
approaches by different asset managers, right?
30:11
So here's Fidelity. Fidelity is one of the only
30:16
companies that offer the ETF that is taking self custody.
30:20
The vast majority of them are using Coinbase's custody.
30:23
And then I think one is using Gemini.
30:26
Here's Bitcoin Archive. He says Fidelity is calling
30:29
customers already exposed to Bitcoin related securities to
30:32
address any questions about Bitcoin ETFs.
30:35
So that's how Fidelity is approaching it.
30:37
But there is, there is one holdout and we were talking
30:40
about it, the Vanguard Group. So BlackRock and Vanguard are
30:44
the largest asset managers in the world.
30:47
If you take a look at any corporation and you take a look
30:50
at what who their shareholders are, you can make a really big
30:54
bet that BlackRock and Vanguard are layered large shareholders
30:58
of those companies. So if you're talking about
30:59
Netflix, Amazon, Apple, doesn't matter.
31:02
BlackRock and Vanguard owns a percentage of them, right?
31:06
They're the only ones that are like, no, we're not gonna offer
31:09
this to our customers. In fact, here's the CEO on
31:13
CNNBC. When I read this, I got a
31:17
certain reaction. I said I don't mean ill will on
31:20
anybody, but I really believe that he'll get fired for this
31:23
fatal decision a couple years from now.
31:26
I don't think Vanguard's clients are going to be OK with this
31:29
once number go up. Tech does its thing and they
31:32
weren't given access. And there's a reason that I said
31:35
that based on what his reasoning was behind essentially not
31:41
allowing Vanguard clients to buy this ETF, let's check it out.
31:45
Power of ETFs. And there's been a lot of
31:48
discussion over the past few weeks about potentially a
31:51
Bitcoin or cryptocurrency ETFs. Are you exploring it?
31:55
Do you plan to open one? Are you going to apply to open
31:58
one? And what do you think of a
32:00
Bitcoin ETF as an investment tool for your customers?
32:06
Tyler We won't be pursuing a Bitcoin ETF.
32:10
It just like we don't use gold as an asset class for our
32:15
clients. We have, it's not that people
32:17
can't invest in there. We just look at asset classes or
32:20
you know what belongs to a long term portfolio, what has
32:22
intrinsic value, has cash flows to it and those are the asset
32:26
classes we steer people towards. And so we don't go towards
32:29
Bitcoin or gold or or any other of those stable assets or of.
32:35
So I mean, interesting. Here's American Huddle.
32:38
He has some. He has a statement.
32:39
He says we're going to break Vanguard Group inside of a month
32:43
if you have, but if you have owned any Vanguard products,
32:46
sell them. If you have a Vanguard account
32:48
account, close it. No quarter.
32:50
I agree. Neil Jacobs said it publicly
32:54
that he was going to be closing his Vanguard account.
32:56
Here is Kathy Wood. She is the CEO of Arc Invest and
33:02
she had some thoughts about, you know this quote UN quote
33:06
terrible decision by the by Vanguard.
33:08
Let's check out what she has to say.
33:09
Kathy, I want to ask you about 1 institution that still doesn't
33:13
want anything to do with these products and that's Vanguard
33:16
which told us in a statement that the spot been going to ETF
33:20
will not be available for purchase on the Vanguard
33:23
platform. And we're talking about an
33:25
institution with what, $7 trillion under management?
33:29
What do you make of that decision?
33:33
Well, consider the source, of course, I think it's a terrible
33:37
decision. I think it's a strategic
33:39
blunder. And and what Vanguard is doing
33:44
is basically saying, you know, the world's not going to change.
33:47
These new financial rails are not going to be successful.
33:51
We're still going to have 7 middle men between merchants and
33:55
consumers, each one taking a toll.
33:58
And we just don't think that's that's going to prove correct.
34:02
Truth always wins out. Innovation solves problems.
34:05
There's a lot of friction in the financial system and we believe
34:11
that Bitcoin block blockchain technology generally are going
34:16
to take a lot of the friction out of the system.
34:20
The other reason I think this is a terrible mistake is, you know,
34:23
they're going to deprive the investors who stay with them of
34:27
really the the first global, decentralized, private, no
34:34
government oversight rules based critical phrase there monetary
34:39
policy monetary system in history.
34:42
My mentor Art Laffer, you may know him from the Laffer curve.
34:46
He's also a military scholar. He said.
34:50
This is what I have been waiting for for for 50 years since they
34:56
closed the gold window in 1971. That is an absolute mic drop
35:03
from Kathy Wood, absolutely slaying it, that that quote that
35:09
she said they're going to deprive the investors from the
35:12
first global, decentralized, private, no government
35:16
oversight, rules based monetary policy, monetary system in
35:21
history. And you want to know why
35:22
Elizabeth Warren is so hell bent against this?
35:26
It's because of this, right? No government oversight.
35:29
If Bitcoin proves that it is a superior money, it is a superior
35:35
over a superior asset without government oversight.
35:39
It leads you to a question, which is what is the role of
35:43
government in my life. And I think that is a very, very
35:46
difficult question that they don't even want to have asked of
35:50
them, right? They don't want to have to be
35:53
pushed into a corner and have to answer the question, why does my
35:57
money have to decrease in purchasing power over time?
36:01
Right. So is Vanguard taking a
36:03
political stance? Did the Vanguard CEO get a call
36:06
from the Biden administration that the Vanguard CEO get a call
36:09
from Elizabeth Warren? I don't know.
36:11
But I think market forces are going to do what market forces
36:13
do best, and I think Vanguard's going to fold on this.
36:16
OK, so I do want to end it with this.
36:18
Ladies and gentlemen, this is the Woods predictions based on
36:23
the global adoption of Bitcoin. For what the price of Bitcoin
36:27
could be the price target by 20-30, right?
36:32
So her Baird case is $258,000 Bitcoin, her base case is
36:37
$682,000 Bitcoin and her bull case is $1.48 million Bitcoin.
36:44
And and the assumptions for that is that Bitcoin captures a
36:50
percentage of of corporate treasuries.
36:53
It becomes a remittance asset, it becomes a nation state
36:57
treasury asset, it becomes an emerging market currency
37:01
economic settlement layer, seizure resistant asset.
37:04
It's, excuse me, institutional investment, digital gold.
37:09
I think, you know based on where we are now what just happens.
37:13
I think bitcoin's going to absolutely crush these numbers
37:17
and I think you know these this for these predictions, really
37:20
this, this prediction that Kathy Wood is making.
37:23
I think bitcoin's going to blast through that.
37:25
I think with this ETF approval, with the Fasby accounting rules,
37:29
I think it's I I think easily we easily see $1,000,000 Bitcoin,
37:34
you know, at the end of the decade.
37:36
I wouldn't be surprised some people are even calling for 500.
37:39
Samsung Mao is like calling for $1,000,000 Bitcoin this cycle,
37:42
right? I don't know if that's gonna
37:43
happen, that's pretty aggressive, but we shall see.
37:47
Anyways, I do wanna get these gentlemen's thoughts.
37:50
So John, I'm gonna start with you.
37:52
What are your thoughts on Vanguard's hostile stance
37:55
towards the Bitcoin ETF? Well, I agree with you Nico,
37:58
that it's that the CEO is probably going to end up going
38:03
down on this call. And but at the same time, you
38:07
know, I think there's this this balance out there in the in the
38:12
world that is the there's the the side that's pushing for
38:17
Bitcoin adoption and then there's the side of the
38:20
Elizabeth Warren's that just really don't want this to
38:25
happen. And part of me thinks that
38:28
they're pushing so hard on the other side just to protect the
38:31
banking system. Because if on the one hand,
38:35
they're promoting Bitcoin ETFs and they're saying, hey, we we
38:39
now have a regulatory environment that allows
38:42
institutions and everyone to hold Bitcoin, then there could
38:48
easily be a, let's use Larry Fink's words, a flight to
38:54
quality, right Everybody taking their money out of the bonds and
38:59
moving them into Bitcoin. And so they have to do some
39:02
pushback on the other side to keep the all that generational
39:07
wealth they need to keep some of it in the banking system.
39:11
And otherwise the banking system is just going to collapse. 100%,
39:16
I I agree with that. And I think that's why you have
39:18
Jamie Dimon, you know, testifying in front of Congress
39:21
basically saying, you know, this is, you know, bitcoins for money
39:24
launderers and and etc, etc. Even though we know that if you
39:28
look at the actual numbers, 99% of illicit finance is done using
39:32
the traditional financial system.
39:33
I don't think it has to do with money laundering.
39:35
I don't think it has to do with terrorism.
39:37
I think it has to do with the fact that what you just said,
39:40
John, I think that this is a threat to the traditional
39:44
banking industry. And you know they don't.
39:46
They they would rather things stay where they are than you
39:51
know, allow some magic Internet money to potentially take their
39:54
place. And I think that's really why
39:55
they're so helpense against it. Anyways, Jack, I do want to get
39:58
your thoughts before we move on to Opti.
40:01
Well, yeah, you know, I want to just mention, you know, I'm kind
40:05
of a little bit more in the rogue camp, if you know what I'm
40:08
saying. Thanks to our good friend
40:11
Samantha who's kind of newly waltzed into the scene.
40:15
I'm I'm trying to be very kind and polite.
40:18
Samantha Leduc, I believe. I'm not sure how to say her name
40:22
but she has put out a a position in a way and I know many of you
40:27
have already commented on that, a really fascinating thing.
40:30
And it's kind of in tone with the way Vanguard is approaching
40:32
things. They're they're just saying, no,
40:35
you can't really talk us out of it.
40:36
We're in charge. We're the state for the state
40:39
and us we are one and the same. You know, I mean, I feel like
40:41
that is the position that you know, they're going to kind of
40:44
stick with. It's they're like ride or die
40:47
kind of AI don't know horse to take all the way into the sunset
40:51
as long as they can because they realize what a threat it is.
40:54
But whether or not we can get Samantha or particular people,
40:57
you know to admit that remains to be seen.
40:59
A. 100% I think it's a really good take.
41:02
Opti. What?
41:03
How are you feeling about this, bro?
41:05
I mean, look, Larry, you have Larry Fink on one hand,
41:08
basically like bro, he. Do you think he's been watching
41:11
simply dude 'cause those talking points?
41:13
Dude, no, no, 'cause he's talking about tokenizing
41:16
finance. He's financializing tokens and
41:19
all. This stuff, so he's watching
41:21
Bitcoin and then other, you know, altcoin channels, OK.
41:24
He's watching simply. And then he all other altcoin
41:26
channels. Yeah, so it's two.
41:28
It's a tale of two different sides, right?
41:30
You have the Vanguard CEO saying we're not going to off for this
41:33
and you have Larry Fink, you know, the BlackRock CEO saying,
41:36
yeah, this is awesome being a Bitcoin bull advocating for it.
41:40
So what are your thoughts? It's it's you know let's see who
41:42
who wins that race he's going to get like there's going to be
41:46
consequences for the Vanguard CEO not offering this to his
41:50
clients. I I really do believe that like
41:53
in five years from now, there's going to be people with
41:55
pitchforks outside that office saying, like, what the hell?
41:58
Like, what happened here? This was, this was a bad move
42:00
anyway. So what's your take, Opti?
42:02
Yeah. Well, first and foremost, you
42:04
guys probably know my take. I believe that market forces
42:08
will take care of Vanguard and of course they are currently and
42:12
will continue to get pressure from the customers that either
42:16
want price exposure to Bitcoin And then further you know all
42:20
the ETS will probably get some more pressure to actually be
42:24
able to get like kind and you know get the ETF and actually
42:28
huddle Bitcoin directly. But I just, I I just think this
42:33
is just a natural course of what we're seeing and then shouts up
42:36
the Jack bringing up Samantha, because I think that is a pretty
42:39
good microcosm of the debate going on right now.
42:43
A lot of people still believe in the Keynesian economics view
42:46
that we need to be forced by a state to use money.
42:49
And us bitcoiners are basically on the opposite side saying like
42:53
no, the separation of money and state is super important.
42:56
And even Larry Fink said it himself, he he basically said
42:59
what was it exactly? That it's bigger in government,
43:02
it's outside of any single government.
43:04
And this is what we love about Bitcoin is that there is no
43:08
single point of failure. There is no institution in
43:11
forcing us to use Bitcoin. It is something that lives
43:14
totally separate to any government and any financial
43:18
system and to us that is a feature.
43:20
And I think more people will learn about that, that
43:23
importance of that single single truth and fact about Bitcoin.
43:28
And then I kind of want to touch on what I don't know who the guy
43:32
was and what show it was on, but man, that that guy is hopefully
43:36
he's just kind of playing the heel on the show.
43:39
But you know, XRP bag holder confirmed just absolutely
43:43
hilarious that he's talking about an XRPETF and and that
43:46
he's using the like utility of Bitcoin fund.
43:48
Like, oh you know, we use gold for for industrial purposes.
43:54
And Bitcoin is just a Ledger and they're like, yeah, that's
43:56
exactly why we love Bitcoin. We want our money to simply be
44:00
money. It doesn't need to have any
44:02
utility besides the fact that it's able to store value, that
44:05
it's able to transact freely anywhere around the world 24/7,
44:09
365 to us. This is a feature.
44:11
But again, you can just see how ingrained the Keynesian
44:15
economics model is in traditional finance.
44:18
And of course, we're not going to completely get into a Bitcoin
44:23
standard overnight. We've been on a Fiat standard
44:25
for roughly about 100 years, so the thinking isn't going to just
44:30
disappear in one ETF approval. And again, you know, maybe Larry
44:35
Fink isn't a Bitcoin maxi like us, but he sure is saying a lot
44:39
of the stuff we talk about, that Bitcoin is a store of value,
44:43
that it is separate from a single government.
44:45
And then on the price talk Nico, you know, we were wondering
44:49
whether the spot Bitcoin ETF was going to be a southern news
44:52
moment or you know what? I was kind of hoping that it was
44:55
just gonna rip Max Payne and and everyone on Wall Street's gonna
44:59
be like, what in the hell is going on?
45:01
I? Think they frame ran it bro.
45:02
Well, not only did they front run it, but I did see a thread
45:05
about the grayscale ETF and I think a lot of people are
45:09
getting out of grayscale and they dumped a lot of the coin
45:12
that was in grayscale on the market.
45:15
I kind of agree. But also it does seem like we're
45:19
seeing a lot of capital shift around and people maybe aren't
45:25
as hyped on the grayscale ETF and like the amount of Bitcoin
45:29
that BlackRock is going to suck up into their ETF or rather all
45:34
these ETF. Like it's absolutely incredible
45:36
how much Bitcoin they bought. And then again some some other
45:39
things that we heard from the Vanguard guy, you know he
45:42
mentioned the, the quote UN quote, there's no intrinsic
45:45
value in Bitcoin and as as you know, Keynesian or Austrian
45:50
economist who would say there is no intrinsic value in anything,
45:53
everything is subjective. But there was a point in that
45:56
clip that I think, I don't know if it was like a Freudian slip
46:01
or what. But at the very end of that
46:03
clip, he said, yeah, he said we don't use, we don't invest in
46:08
anything that is a stable asset like gold and Bitcoin.
46:11
And to us that's like we're like.
46:13
Yo, what are you talking? About like that's the beauty of
46:15
Bitcoin, that it is a stable asset.
46:17
You guys know what we say, you know one Bitcoin equals one
46:19
Bitcoin. The price volatility of Bitcoin
46:22
is not that Bitcoin is volatile, it's that Fiat currencies are
46:26
volatile against Bitcoin because Bitcoin is stable.
46:28
We know the monetary policy, we know, you know TikTok next block
46:32
roughly every 10 minutes a new block is made and Bitcoin really
46:36
is the stable asset. And you know, just to be kind of
46:40
like given the benefit of the doubt, maybe he is kind of
46:43
thinking of the like, oh, you know, gold stable in price
46:48
historically. It doesn't really move too much.
46:50
Maybe that's what he's talking about.
46:51
But I don't know when I heard that I'm like, wait, like what?
46:55
Like he just wants to continue to give his customers riskier
46:58
and riskier assets so that they make more money.
47:00
Like that makes no sense to me. Like if if someone heard that
47:03
and understands Bitcoin, it's like, wait, so bitcoin's a
47:06
stable asset? Like, OK, maybe I want some.
47:09
But again, I think market forces will take care of this.
47:12
I I I keep getting reminded of the how Finny posts that he
47:16
posted long time ago about there will be full reserve Bitcoin
47:21
banks, there will be fractional reserve Bitcoin banks, and the
47:24
market will just have to figure out what they really want.
47:26
You know, as I say as a meme, the rug pulls will continue
47:30
until morale improves. So until more and more people
47:33
realize the importance of taking Bitcoin custody directly, this
47:38
is the game we're going to be playing and and the ideologies
47:41
are playing out in real time in the mainstage and you just love
47:45
to see it. It just goes to show that there
47:47
is still a lot of work educating people out there and that will
47:50
have a job for a little bit. Nico.
47:52
Yeah, we'll have it. We'll have it job until the the
47:54
world is the world is the world is totally orange pill.
47:58
Speaking of orange pill, I do want to give a shout out to one
48:03
of our sponsors, Bitcoin Evangelism.
48:06
Planting seeds for the centralized revolution, We have
48:09
10 Million People to Orange Pill Bitcoin Evangelism written by a
48:13
good friend of mine, Brian De Mint.
48:15
Also with the Orange Pill Lap is an absolute beast.
48:18
Of a resource. For orange Pilling, no corners
48:21
and alt corners alike. So if you have that aunt or aunt
48:25
or uncle or brother or father or mother that are just they're not
48:31
about it, yeah, maybe for Christmas, right?
48:34
Or for their birthday, give them a copy of Bitcoin Evangelism and
48:37
it really, really breaks Bitcoin down.
48:40
Anyways, I also do want to give a shout out to our sponsor the
48:44
best place to buy Bitcoin miners.
48:46
Of course I'm talking about Cabin Rex.
48:50
You want to sell? You want to buy, sell or host
48:53
mining equipment. You got to check out their racks
48:55
so you can scan the QR code right now on your screen.
48:58
It will take you directly to the Kaboom Racks marketplace where
49:02
you can connect with a member of their with a member of their
49:05
sales team. They make purchasing products
49:08
easy and transparent. What about selling mining
49:10
equipment? The Kaboom racks?
49:12
The Kaboom Racks team has your back.
49:15
You can access their vast network of domestic and
49:17
international customers when you sell your mining equipment with
49:20
them. What are you waiting for?
49:22
Start your mining utopia today. Check out Cubby Rex.
49:26
All right everybody, let's get to the culture.
49:28
Let's talk about Bitcoin Day, Naples, 2024.
49:35
The Daily Culture. Brought to you by Swan
49:38
bitcoin.com Swan is the best way to build your Bitcoin stack with
49:42
automated Bitcoin savings plans and instant purchases serving
49:46
clients of any size from $10 to $10 million.
49:50
We love Swan because they incentivize self custody and
49:54
dollar cost averaging. What are you waiting for?
49:56
Visit swanbitcoin.com today. Let's go.
50:01
All right, guys, So I don't know who wants to take the first
50:05
question, but I did read your about page.
50:07
So I kind of want to start with what is the origin of Bitcoin
50:11
Day Naples. And of course for people that
50:13
don't know what is Bitcoin Day in Naples?
50:18
Well, the the origin, it started in Omaha, NE.
50:23
The founder of Bitcoin Day lives in Omaha, and he was wanting to
50:29
do something to sort of protest the Berkshire Hathaway annual
50:35
meeting. So he wanted to hold this
50:37
Bitcoin conference right at the same time to bring bitcoiners
50:42
into Omaha. And while the Berkshire Hathaway
50:48
annual meeting was going on, so it was a it was a Warren
50:51
Buffett, Charlie Munger sort of punch in the face.
50:56
So that's how it all started. And then you know he we we work
51:02
with local meet up groups and when I first got involved with
51:09
Bitcoin Day, I was had just finished working with Greg Foss
51:15
on a small little panel at a Tradfi conference as a matter of
51:20
fact. And Greg's next appointment or
51:23
next appearance was going to be at Bitcoin Day in Sioux Falls.
51:28
And he's the one that got me interested in the Bitcoin Day
51:32
events. So I contacted the founder and
51:36
we organized the Bitcoin Day Naples 2023 conference and it
51:41
went off so well that we it was just a no brainer to to do it
51:46
again and hopefully we'll be doing it again every year.
51:49
So we have a Well, I'll stop there.
51:52
Love it, love it. So it's such a good origin
51:55
story. Yeah, absolutely.
51:57
And guys, Opti, could you scroll up because guys, you do want to
52:01
get your tickets quickly. This is happening this weekend.
52:05
It's four days, 11 hours and 56 minutes away.
52:09
So if you live in Florida, you want to get your tickets
52:12
quickly, use promo code. Simply gets you a a nice little
52:15
discount. So, you know, get your tickets.
52:19
Get your tickets now. Yeah, yeah.
52:23
We, we we put out a a New Year's Day special or and we we made 21
52:31
tickets available at the $242 price level and I think there's
52:36
still three or four of those tickets left.
52:38
So you can still have a chance to get in under that last minute
52:42
price point if you jump in today.
52:47
Love it, love it. OK, So what can people expect at
52:50
the conference? Or it's not really a conference,
52:52
it's more what a meet up meeting.
52:56
No, I we call it a conference. OK.
52:58
Yeah. Jack, you want to take a stab at
53:01
that? What are they going to what?
53:02
What are they going to get when they get there?
53:06
Wow. They're going to learn something
53:08
new about Bitcoin, like every day.
53:11
That's that's part of why the whole thing was created.
53:15
And yes, a big nod out there to Edward, our founder of course,
53:17
for kind of sticking it to the Berkshire Hathaway Fountain
53:21
whatever meeting. But in the meantime, Bitcoin Day
53:25
is designed to kind of have some people get together and get to
53:28
know each other a little bit. And so we're trying to ride kind
53:32
of an interesting rail of between being a big session and
53:35
a big show and circus, which are all wonderful things to do, of
53:39
course. And yes, we've come from like a
53:41
culture, a background of the meetups kind of schedule and a
53:45
lot of great local meetups that are happened to be here in the
53:47
Southwest Florida region where we're based.
53:50
And this, the vibe is really good and the design is with an
53:54
incredible lineup of great names and great talents.
53:58
The style of it is everybody's kind of in the same room and
54:01
almost at the same table, and the idea is to kind of meet and
54:04
get together, share some content, but mostly connect and
54:08
kind of make it a nice focus day of making some friends and
54:11
swapping some good ideas and being inspired to move forward.
54:17
Yeah, so. So we won't be carting the
54:19
speakers off behind the scenes into a green room after they're
54:23
up on stage. All the all the speakers will be
54:27
in the room with the plebs all day long.
54:31
We we have the room set up banquet style so you can sit at
54:35
a table with you know Gary Cardone or or with Nico or any
54:41
of the speakers that are up there, Steven Luka from Swan.
54:44
You can you can mingle with them and hang out and you have a real
54:50
opportunity to to meet these experts.
54:54
And hey if you have a, if you have a start up business or
54:58
something like that, you might get an opportunity to to pitch
55:00
your your business to one of these VCs that are in the room
55:03
as well. Love it.
55:06
And then, Nico, let's have you talk about it.
55:08
You've been here before. You're gonna be there.
55:10
Yeah man. I had a great time last year.
55:13
I was on a panel, it was talking about Bitcoin in the state of
55:17
Florida and it was just really, really exciting just to meet.
55:21
Everyone had a chance to meet the CEO to to add to what John
55:26
and Jack was saying, I had a chance to meet the CEO of of
55:30
ibex while I was there, right. Because it's it's a, you know,
55:33
it's a it's it's the event is, and it's set up in a way where
55:38
you can. Everyone's in the same place.
55:41
It's not like, you know, there's a backstage and then you're just
55:44
carted away and you can no longer access that person.
55:47
Everyone's just hanging around, you know, Greg Foss was just in
55:50
the lobby, just like drinking coffee and stuff.
55:53
So you know some of your, you know, favorite bitcoiners that
55:55
you see at events or at podcasts.
55:58
You have the opportunity to go up to them, spark a conversation
56:02
with them, you know, pick their brain on something.
56:04
If you have any doubts or concerns on anything that's
56:07
going on, it's a great opportunity not only to, you
56:10
know, ask them personal questions, but also to network,
56:13
right? Like if you're trying to get
56:14
into the Bitcoin industry, this is a great event for you to
56:19
potentially ask, not potentially ask.
56:22
You know, some people that have been established in the
56:24
industry, how they got a job in the industry, you know, how how
56:29
they could potentially, you know, start a business.
56:33
The contacts that you're going to meet there, you know, these
56:36
are these are some very, very big names that have very, very
56:40
big influence, big influences in the industry.
56:43
And I'm also very excited about my panel which is going to be
56:46
called Bitcoin and the economy. It's going to be with Lawrence
56:50
Leopard, Teresa Morrison, Mark Henley and Bitcoin Ben.
56:56
So it should be awesome. It's of course, I mean, I think
57:00
the titles self-explanatory. Bitcoin in the economy.
57:04
I'm very, very glad that the ETF got approved when it got
57:07
approved because that is going to be a very, very interesting
57:09
topic how the different approaches from the asset
57:13
managers, whether that's the Vanguard CEO or the BlackRock
57:17
ETOCEO. Imagine asking these legends,
57:20
you know, how they feel about that.
57:22
You know, that's going to be a very, very interesting
57:25
discussion. I can't wait to hear what
57:27
Larry's going to say because he's going to go out absolutely
57:30
bananas on the Vanguard CEO. So yeah, I'm really, really
57:34
excited about this. Really looking forward to not
57:38
only my panel, but also just getting an opportunity to hang
57:42
out with John, hang out with Jack, and hang out with all
57:45
these awesome bitcoiners at this great event.
57:47
I can't recommend it enough, guys.
57:50
If you're in Florida or let's say you want something to do
57:54
this weekend, January 20. Maybe you want some good
57:57
weather? You want some good weather?
57:59
Escape the coin. Get out of the snow.
58:00
Exactly. Use promo code.
58:02
Simply. I was gonna bring Claude, but he
58:06
cancelled on me. So I'm gonna bring Isaac, who is
58:08
a member of Simply Bitcoin, and he's gonna be the he's going to
58:12
be he, he's he's going to be coming with me.
58:14
So it's going to be a lot of fun, guys, this.
58:17
Can I can I ask one more question since since we got
58:20
these guys here I did notice the keynote is Bitcoin and boomers.
58:25
And we we get a we get a lot of people that give us Flack
58:29
because we we constantly give the boomers Flack.
58:32
So maybe maybe you guys can talk about this, what what's this top
58:37
gonna be about? And maybe if there is some
58:39
boomers out there watching Bitcoin, simply Bitcoin and
58:42
they're like, man, these millennials keep talking smack
58:44
about me, What would be your advice to them?
58:49
Yeah, the Boomer panel, it's, it's gonna be a funny lineup.
58:53
It's gonna be at the end of the day, by the way, and we're
58:56
expecting everybody to be nice and casual and relax about it.
58:59
But the I think The funny thing about it is that I noticed
59:06
amongst this group that none of us ever talk being Boomers,
59:10
being Bitcoiners. We never talk about all the old
59:13
life about who we used to be before Bitcoin.
59:16
It's kind of like this fascinating evolution that has
59:19
kind of worked their way into to at least this group that that we
59:22
get to deal with. And there's going to be plenty
59:24
of them in the room, not to mention that just panel.
59:27
But I think that that's kind of like, in a way, the essence that
59:31
we're trying to share. There's a lot of fascinating,
59:34
you know, angles for there's kind of an older sect.
59:37
Is that the way to say that when you're talking about the boomers
59:41
that were kind of came up and trained on a particular model
59:44
and this and that? And now it's like, oh, what I'm,
59:46
I'm willing to really open up and take a look at things a
59:48
different way. Well, the people that are on
59:51
that panel and of course an awful lot of them in the room, a
59:54
lot of wealth management types and whatnot that John has pulled
59:56
together, they they are all starting to see it and starting
1:00:00
to see it from a whole different angle of the horizon.
1:00:02
And that's kind of I think what we're after right there.
1:00:06
So that made any sense? No.
1:00:08
Yeah. One 100%.
1:00:10
Love it. Yeah, jump in, John.
1:00:12
Oh, I was just gonna say we hope that they'll they will share
1:00:14
their wisdom with us as people who have lived their lives for
1:00:21
many decades. And like Jack said, they've
1:00:24
they've made this transition from who they once were as
1:00:28
Tradfi people or just you know your your basic humans who grew
1:00:33
up in this fifties, 60s and 70s and you know they they've all of
1:00:40
a sudden had an epiphany because of Bitcoin and changed their
1:00:45
lives. So we hope to hear from them
1:00:47
about why that is and and what about Bitcoin inspires them.
1:00:53
Yeah, I love it. Like I think Jack said it best,
1:00:56
You know that if people can kind of you know we we say it all the
1:01:01
time Bitcoin humbles you and and if people can humble themselves
1:01:05
and realize oh wait there is something new happening and
1:01:08
maybe I should look into this instead of just being like you
1:01:12
know oh I know how the world works and and this is all a toy
1:01:15
and these kids don't know what they're doing and it's just it's
1:01:19
just awesome to see the olive branch being lifted and and
1:01:23
supporting everyone that wants to get on Bitcoin.
1:01:26
It's like guys there is an opportunity for everyone here.
1:01:28
Yes, you know, on a on a life cycle, maybe we will be in the
1:01:33
game longer, but there's enough for everyone and there's enough
1:01:36
price exposure in the next couple of years so that everyone
1:01:38
can profit and enjoy the fruits of Bitcoin.
1:01:40
So absolutely love it. Yeah, 100%.
1:01:44
John, I wanted to ask you, what panel are you looking forward to
1:01:47
the most? If you say Bitcoin boomers,
1:01:49
forgive me if I start laughing. Actually, I'm I'm really
1:01:56
interested in the Bitcoin and risk management panel.
1:01:59
That's kind of a new twist in the Bitcoin game.
1:02:06
Oh yeah the you know with Gary Cardone, John Devine, Chris
1:02:11
Sullivan, Gabe Higgins and Rose of Shores.
1:02:13
You don't these are not. I mean Gary has really made a
1:02:17
big name for himself and he's you know only recently come into
1:02:21
the to the Bitcoin world. But these other folks are are
1:02:27
working on interesting products that will help institutions and
1:02:34
and corporations use Bitcoin as a tool for managing economic
1:02:41
risk. And so it's it's new to me.
1:02:44
I don't really quite understand it all, but these folks are are
1:02:49
going to really tell us a lot about that and give us some
1:02:53
details. Help us understand we might be
1:02:57
able to start bringing Bitcoin into corporate treasuries as a
1:03:01
common risk management tool. Definitely, yeah guys.
1:03:09
So if there's anything you want to share last minute, wait.
1:03:13
Wait, wait. That was John's favorite panel.
1:03:15
OK, Jack. Yeah, Jack, what is your
1:03:17
favorite panel? Oh, well, I I'm gonna Oh man,
1:03:21
they're all so good. But I'm gonna go with, I'm gonna
1:03:25
go with my bias, which is the one I get to host at the end of
1:03:27
the day. And that's the Boomer game.
1:03:29
And that's right. Because let's see, you know, in
1:03:35
fact there was something Foss said about he's like when when
1:03:38
everyone's sitting there like nodding their heads in
1:03:40
agreement, then someones not thinking and and I feel like
1:03:44
that is the funniest thing about the collection of people at
1:03:47
least. Well, I'm pretty much every
1:03:48
panel and everyone that we're planning on having there.
1:03:51
It's been absolutely fascinating talking to all these different
1:03:54
personalities. And I can see some of the
1:03:56
comments are given grief about Gary and this and that and this
1:04:00
shit coin this that. But.
1:04:02
And that's absolutely right and that's why we're going to stick
1:04:05
to what I just said, it's we're not all going to sit there and
1:04:07
nod our heads at the same time. We're not doing the echo chamber
1:04:10
game and that is our our kind of our goal from the get go when we
1:04:14
open from the morning and then first act of the day and all the
1:04:17
way out to the boomers and of course into the after party
1:04:21
where there's gonna be a lot of good just healthy disagreement
1:04:24
and whatnot. But at least different
1:04:25
perspectives on on how to come together and move forward.
1:04:29
So that's that's my take. And and let me ask you
1:04:31
something, why did you, why was that panel named Boomer Bitcoin
1:04:36
Boomers? Like what?
1:04:37
What what? Like what was your thinking
1:04:39
behind that? Well, that.
1:04:42
It slapped that on there, yeah. Yeah, that came up that that
1:04:46
started last year, that we we did that on our our Bitcoin
1:04:49
Naples last year and Bitcoin Day Naples last year.
1:04:52
And it was just because we had, you know, four or five boomers
1:04:59
that were on our speaker panels and somebody, I can't even
1:05:06
remember who I think it may have been, Edward came up with the
1:05:08
idea. Hey, this would be a great way
1:05:11
to have these wise older bitcoiners share their
1:05:17
experience with the group. And they were all like
1:05:22
influential, interesting characters, and bringing them
1:05:28
all together on one panel was just a a fun idea.
1:05:33
Love it A. 100% Well I got to do one more, one more shout out.
1:05:38
I don't know if you guys in your audience are familiar with the
1:05:42
BTC trading cards. Absolutely.
1:05:45
Yeah, so one of the characters on the newer version of the BTC
1:05:50
trading cards is is Mother Satoshi.
1:05:53
And so we're super excited to have Mother Satoshi as the as
1:06:00
the moderator for the opening panel, the Bitcoin and money
1:06:03
panel. So she's going to talk to her
1:06:07
panelists about the fundamentals of Bitcoin and why Bitcoin is a
1:06:11
better money. So I think that's a that's a
1:06:13
great character to have. Join us.
1:06:20
I think you cut out during the end.
1:06:23
But yes, Mother Satoshi, AKA Lola Burnett.
1:06:30
Bob Burnett's wife. Amazing.
1:06:32
I was honored to have both of them at my wedding in Vegas.
1:06:36
So really looking forward to that panel and just this Bitcoin
1:06:40
celebration, this Bitcoin event. And unlike last year, there's
1:06:44
gonna be two members of Simply Bitcoin coming to Bitcoin Naples
1:06:48
this year. So really excited for it guys.
1:06:50
Hey wait Nico, before we go, we gotta highlight this comment
1:06:53
shouts at the X actually goes Nico laugh at BTC boomers and
1:06:57
the $6 trillion in asset at your own.
1:06:59
Peril not laughing. I'm not laughing at them.
1:07:02
I'm just like, it's just absolutely hilarious that you
1:07:05
guys don't even try to mask it or nothing.
1:07:07
You're just like Bitcoin Boomer panel.
1:07:08
Bah, that's what I find funny. I'm not trying to make.
1:07:12
I absolutely. You guys hold all the money.
1:07:15
That's the reality. Yeah, it's important for
1:07:19
everybody to realize that it's not just the young audience,
1:07:22
that it's not just the millennials and the Gen.
1:07:26
Zers who are bitcoiners. It's important to for everyone
1:07:29
to realize that, you know, people our age and older are
1:07:34
also there's a lot of them out there that are, that are are in
1:07:38
the game and believe in Bitcoin and understand what it means to
1:07:43
the world. So you know, boomers, we need,
1:07:47
we need everybody to know that there are that.
1:07:50
There's an older generation that is also on board with this. 100%
1:07:56
and and and I'll even add to that, I think the boomer
1:07:59
generation is, is going to be the most influential in terms of
1:08:05
the money inflows going into Bitcoin because it's the
1:08:07
generation that that holds the lion's share of the wealth,
1:08:10
specifically the boomers and the Gen.
1:08:13
Xers, right. You know, the millennials and
1:08:15
Gen. Z Ers, they in percentage terms,
1:08:18
they don't hold a lot, they don't hold, they don't hold a
1:08:21
lot of the world's wealth. Like that's just the reality.
1:08:23
So yeah, it is a big deal our. Parents are living so much
1:08:28
longer they're not able to pass it down to us.
1:08:31
Yeah, it's true. It's true.
1:08:33
But now there's an ETF. Now there's an ETF and you know,
1:08:36
they're advertising it in certain ways.
1:08:38
Anyways, I do want to thank our guests, guys.
1:08:41
Thank you so much for coming on today, guys.
1:08:43
If you want to buy your tickets, do it right now because the
1:08:46
event is this weekend, go to Bitcoin day dot IO slash Naples
1:08:50
24. You can use promo code simply to
1:08:53
get yourself a discount. Jack and John, it's been an
1:08:56
honor. Looking forward to seeing you
1:08:57
guys over the weekend. Thanks for.
1:09:01
Having us, I appreciate you gentlemen coming on the show.
1:09:05
All right, Opti, I think we're going to wrap it up.
1:09:08
It's a It's a good episode starting.
1:09:09
Another day in the book starting Monday.
1:09:11
Off strong, We appreciate you all.
1:09:13
I think we peaked at 500 live viewers across all platforms.
1:09:18
So shout out to our Twitter audience, our rumble audience,
1:09:20
our YouTube audience. Thank you all.
1:09:23
We really appreciate it guys. Check out our new sponsor Scott
1:09:26
S Build a Mine boot camp. If you want to learn how to my
1:09:31
how to start a Bitcoin mine literally from A to ZI know
1:09:35
there's a lot of free information out there.
1:09:37
Sign up for the free webinar. Let's go to his website.
1:09:40
There's a link in the video description.
1:09:42
He'll literally show you how to do it.
1:09:43
He's like 6 years of experience so definitely check that out
1:09:46
guys. Love you.
1:09:48
My producer will kill me if I don't do this.
1:09:51
Check out our merch. If you wanna support the show,
1:09:54
scan the QR code right now. Go to simplybitcoin.com.
1:09:57
You can get yourself T-shirts, hoodies.
1:10:00
There's a discount as well and we're coming out with new merch.
1:10:03
Also guys, if you enjoyed the show, smash that like button.
1:10:06
Consider subscribing if you feel like we provide you devalue.
1:10:08
But the number one thing you could do to help push the
1:10:11
peaceful Bitcoin revolution is share Bitcoin content, share
1:10:14
Bitcoin culture, go to Bitcoin events like the Bitcoin Day,
1:10:17
Naples this weekend, share Bitcoin music.
1:10:21
Just the the saying, the thing that I always say at the, you
1:10:26
know, at the end, which is at the end of the day, politics is
1:10:30
downstream from culture. You went over the culture, You
1:10:32
went over this thing. Love you guys.
1:10:34
We'll be back tomorrow for a brand new episode of Simply
1:10:37
Bitcoin Live. Peace out everybody.
1:11:02
Uh.