Latest / Simply Bitcoin / BREAKING: Bitcoin Ban Backed by Banks?! | EP 892

Transcript

BREAKING: Bitcoin Ban Backed by Banks?! | EP 892 · Simply Bitcoin

• 0:13
  It's all going to zero against Bitcoin.
• 0:17
  It's going on forever. You're against Bitcoin.
• 0:27
  You're against freedom. Good morning everybody.
• 0:32
  We are back. Welcome to Simply Bitcoin.
• 0:34
  What a show we got for you guys today.
• 0:36
  This is, this is, these are my favorite shows.
• 0:38
  I tell you guys constantly when we when we talk about the
• 0:41
  separation of money and state on simply Bitcoin, that part of our
• 0:45
  job is just exposing the media, exposing the politicians for
• 0:50
  what they are. We bring the receipts every
• 0:52
  single day and today is one of those days.
• 0:56
  Yesterday we were kind of speculating on what's going on
• 0:58
  behind the scenes in this Elizabeth Warren anti Bitcoin
• 1:01
  ban, essentially effectively banning self custody in the
• 1:06
  United States. And we were hearing some rumors
• 1:09
  that maybe, just maybe the banks were behind this.
• 1:14
  We've been saying for a while, we've been hearing the grumbling
• 1:17
  behind the scenes that Elizabeth Warren is playing cover for the
• 1:20
  big banks, which is, you know, a huge pivot from where she got
• 1:24
  elected from, from where she originally started her platform
• 1:27
  from. And now we have it coming out of
• 1:30
  the horse's mouth. Exactly that.
• 1:32
  Bitcoins incentives exposing awe.
• 1:35
  It's just so beautiful to be a part of Bitcoin.
• 1:37
  The truth machine of Bitcoin. We had Robert Marshall
• 1:42
  testifying. I, I and I really do think this
• 1:45
  is one of those Freudian slips. And maybe he was saying this,
• 1:48
  maybe he thought he was saying something that was hard hitting.
• 1:51
  But he essentially said that the National Bank Association helped
• 1:55
  him and Elizabeth Warren write this anti Bitcoin bill.
• 1:59
  And if this isn't the smoking gun that banks are absolutely
• 2:02
  terrified of what's going on with Bitcoin, that they're we're
• 2:04
  not actively trying to stop and hamper Bitcoin, I don't know
• 2:08
  what is. And again, I've been saying this
• 2:10
  since this new story broke that I just absolutely love it when
• 2:13
  first politicians come out and say things like this.
• 2:16
  It just, it just goes to show that they're not naive.
• 2:18
  They know exactly what's going on.
• 2:20
  But then again, when the criminals, when the real
• 2:23
  criminals call us bitcoiners criminals, I just know we're on
• 2:26
  the right track. It just makes me feel so good
• 2:28
  just just being acknowledged and being seen that yes, we are the
• 2:32
  ones that are right here. It's been a long, long bear
• 2:35
  market and I'm just so glad to see politicians come out and be
• 2:39
  absolutely terrified of Bitcoin, of the separation of money and
• 2:42
  state because we say it all the time.
• 2:44
  They get their power from the money printer and once you
• 2:47
  understand Bitcoin fundamentals you under, you understand that
• 2:50
  you're going to minimize that power.
• 2:53
  And until they run around terrified, we aren't doing our
• 2:57
  jobs guys. So I just, I I get so fired up
• 3:00
  on moments like this when when we can show that the peaceful
• 3:04
  Bitcoin revolution is happening in real time, that we're not
• 3:07
  just sniffing our own farts, that we are actually on the
• 3:09
  right track and then we have the bank scared out there.
• 3:12
  Remember last week, you know, Elizabeth Warren was testifying
• 3:14
  with Jamie Dimon. Well I got that video for you
• 3:16
  guys again. They want to ban Bitcoin.
• 3:18
  Obviously they can only ban themselves from Bitcoin.
• 3:21
  You can't stop Bitcoin. It's a feature, not a bug.
• 3:24
  And again guys, you know we are American centric and it really,
• 3:28
  it really is painful to see America fight freedom money.
• 3:31
  Especially when when the meme of America is land of the brave,
• 3:35
  home of the free. And here we are, it seems like
• 3:38
  the sovereign individual just continues to play out living in
• 3:41
  America. Considering we have the world
• 3:43
  reserve currency may become a detriment to all of us freedom
• 3:47
  fighting people. But I am, I'm not giving up yet.
• 3:50
  I think we can overcome this. I think the incentives of
• 3:53
  Bitcoin are pure and I think all the politicians will eventually
• 3:56
  have to bend the knee because bitcoins incentives will
• 3:59
  overcome the Totalian dystopia that we are finding ourselves
• 4:04
  in. And on that note, I also, I also
• 4:07
  have a video that I'm going to tee up in the numbers for you
• 4:10
  guys and it's Sailor on Bloomberg essentially saying
• 4:12
  what we've been saying on simply Bitcoin for months now that we
• 4:16
  are heading into what might be an extremely epic bull run.
• 4:21
  All the factors are aligning. We're having the halving about
• 4:24
  the play out. We have institutions coming in.
• 4:26
  We have Wall Street starting to get incentivized about Bitcoin.
• 4:31
  They're starting to get a little greedy.
• 4:32
  And the reason, oh, Nico's telling me, my mic.
• 4:37
  One second, one second. Reece Strain's been acting up on
• 4:40
  me. Here we go.
• 4:41
  The incentives of Bitcoin are aligning, and This is why you're
• 4:47
  seeing Elizabeth Warren, the bankers, Jamie Dimon, Christine
• 4:53
  Lagarde. This is why they are coming out
• 4:56
  against Bitcoin is because they realize, hey, Wall Street wants
• 4:59
  a chunk of Bitcoin. They want a piece of the action
• 5:03
  and if they can, they're going to try to corral all of the
• 5:06
  liquidity in to these ETFs. It's not a coincidence that all
• 5:12
  this is happening at the same time.
• 5:13
  We have a Black Rock endorsing a spot Bitcoin ETF.
• 5:16
  We have Elizabeth Warren coming out against Bitcoin.
• 5:19
  On the one hand, Wall Street wants to get some price action
• 5:23
  to Bitcoin. On the other hand, we have the
• 5:24
  politicians running around absolutely terrified.
• 5:27
  It's such a beautiful time to be a bit corner.
• 5:29
  Anyways, we have a very cool guest for you guys today, Jaime.
• 5:34
  He is a Bitcoin contributor. He's in, I guess, a journalist
• 5:38
  covering El Salvador adoption. He is El Salvadorian.
• 5:42
  So we're going to talk about what's going on in El Salvador,
• 5:44
  what he's seen happen, but also connect this into what's
• 5:48
  happening in Argentina, because we all know, you know, Malay
• 5:51
  came out, He's been saying some things that a lot of us
• 5:53
  bitcoiners are enjoying. But also maybe we're being a
• 5:57
  little too quick to judge, maybe we're being a little too
• 5:59
  hopeful. I think we're going to, we're
• 6:01
  going to devour this today anyway.
• 6:02
  Jaime, I'm so glad to have you. We've hung out in spaces a lot.
• 6:06
  I even thought you've been on the show just because we talked
• 6:08
  so much in spaces and DMS. But how you doing this morning?
• 6:10
  Good to have you. Thanks.
• 6:13
  Up to you. You're way better looking in
• 6:15
  person than on video, so. You're not the only one.
• 6:21
  Spaces. How about that?
• 6:22
  Yeah, yeah, I I you know, I have a face for radio on camera, but
• 6:27
  off camera, they're like, what? Whoa, What are you doing?
• 6:29
  Why do you? Well, anyways, I'll work on the
• 6:31
  camera. I'll work on my optics.
• 6:32
  Anyways, we're not alone. Here.
• 6:34
  It's all good. It's all good.
• 6:36
  Thanks for having me, man. I'm just going to hang out on my
• 6:38
  lunch hour with you and you know, we're just going to riff
• 6:41
  off all the things that are going on in Bitcoin, you know,
• 6:45
  no shortage of them for sure. So you know, wherever you want
• 6:48
  to start off with, man, I'm, I'm good.
• 6:50
  Let's go. Yeah man, we have a we have a
• 6:53
  jam packed show today and then couldn't have a better guess
• 6:56
  considering that we are talking about politicians fighting
• 6:59
  Bitcoin and you've been on the ground showing what happens in a
• 7:03
  country when they embrace Bitcoin and on the verge of
• 7:06
  maybe another country embracing Bitcoin.
• 7:08
  But we'll get all into that in the culture before I move on.
• 7:11
  We got the the infamous No, rather the famous illustrious
• 7:15
  selfie with us today filling in for Nico.
• 7:17
  Actually filling in for me. And I'm filling in for Nico
• 7:19
  anyway. Anyway, Sophie, how you doing
• 7:21
  today? Good to have you.
• 7:22
  Good afternoon. Good morning to those of you in
• 7:26
  Central and Pacific Time. I'm doing good guys.
• 7:30
  It's getting harder to breathe, but it's not just because of
• 7:35
  everything that's happening with Bitcoin and with Liz Warren, the
• 7:39
  Tyrant who's trying to stop Bitcoin.
• 7:44
  But it's OK, honey Badger. Don't care.
• 7:46
  I'm ready to start the show. I'm excited to be here.
• 7:49
  Let's do this. Let's go.
• 7:50
  Well, you know Nico has you working even though he's got you
• 7:54
  working double time. But hey, we're not, we're not
• 7:56
  going to get into any child labor laws here or whatever is
• 7:58
  going on over there. Anyways guys, let's get into the
• 8:04
  show 'cause we have a jam packed show for you guys and I think
• 8:06
  you guys are going to enjoy this one.
• 8:10
  The Bitcoin numbers. Is your Bitcoin in cold storage
• 8:14
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• 8:17
  secure? Stamp seeds?
• 8:18
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• 8:21
  hammer your seed words into commercial grade titanium plates
• 8:26
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• 8:28
  Don't store your generational wealth on paper.
• 8:31
  Papers prone to water damage, fire damage.
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  You want to put your generational wealth on one of
• 8:36
  the strongest metals on planet earth, Titanium.
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  Your words are actually stamped into this metal plate with this
• 8:43
  hammer and these letter stamps. And once your words are in, they
• 8:46
  aren't going anywhere. No risk of the plate breaking
• 8:49
  apart and pieces falling everywhere.
• 8:52
  Titanium stamp seeds will survive nearly triple the heat
• 8:55
  produced by a house fire. They're also crush proof,
• 8:57
  waterproof, non corrosive, and time proof.
• 9:00
  All things that paper is not allowing you to huddle your
• 9:03
  Bitcoin with Peace of Mind for the long haul.
• 9:06
  Stamp your seed on stamp seed. All right guys, we made it easy.
• 9:10
  Scan the QR code. Make sure your seed phrase is
• 9:12
  not on a piece of paper in your sock drawer like everyone else.
• 9:16
  That's the first step guys. Is your seed phrase in your sock
• 9:19
  drawer? Well, get it on titanium.
• 9:21
  Anyways, the the chat. You guys are killing me already.
• 9:23
  I am. I am downright giddy right now.
• 9:25
  This is the stuff that gets me so excited when when we can
• 9:28
  fully expose the hypocrisy of politicians and bankers.
• 9:31
  I absolutely love this stuff. All right.
• 9:33
  Anyways, anyways, we'll get into that later.
• 9:35
  Of course we're over here on Clark when he's dashboard and
• 9:38
  we're starting with the block height.
• 9:39
  I know Nico, he starts with the price.
• 9:40
  But to me the most important thing is the block height.
• 9:43
  TikTok next block. It's almost like Bitcoin works
• 9:45
  exactly as design. It's amazing.
• 9:47
  It's almost Nick. Satoshi was prophetic here.
• 9:49
  Anyways, we're at block height of 822,115.
• 9:53
  The current Bitcoin price is 43,930.
• 9:57
  Kissed 44 K this morning I believe If if if I saw the
• 10:01
  tweets correctly. Anyways, the stats per dollar,
• 10:03
  how much your Bitcoin is worth in Fiat dollars, or rather how
• 10:08
  much Bitcoin you can buy for a single dollar is 2277 sats per
• 10:12
  dollar or for the bits maxes in the Max 227 bits and the total
• 10:18
  percentage of Bitcoin that will ever be issued.
• 10:20
  I I cannot emphasize this enough guys.
• 10:22
  Most Bitcoin is already circulating.
• 10:25
  There will only ever be 21 million.
• 10:26
  We're all gonna be scrambling for the last what million or so
• 10:30
  Bitcoin. The total percentage of Bitcoin
• 10:32
  that will ever be issued is 93.21%.
• 10:35
  The market cap in Fiat terms is $859.6 billion.
• 10:40
  We're not even at a trillion dollar market cap, guys.
• 10:42
  And everyone's out there bearish.
• 10:43
  It couldn't be me. You can't relate.
• 10:45
  Anyways, the realized monetary inflation taking Fiat currencies
• 10:48
  to school is currently at 1.75% and that will go down in April.
• 10:54
  And the book Coin versus Gold Market Cap.
• 10:56
  You can see it's slowly but surely inching up as the Bitcoin
• 10:59
  price goes up as more people adopt Bitcoin.
• 11:01
  We are currently at 6.27% of the gold market cap.
• 11:05
  As Nico's been saying lately. I can't wait till this is at
• 11:08
  like 100, two 100% and going further than that because
• 11:12
  Bitcoin will overcome the gold market cap, it's inevitable,
• 11:16
  it's going to happen. And then the total public
• 11:19
  lightning capacity is currently at 4999.48 BTC.
• 11:24
  The hash rate the last 90 days, you know the average, the
• 11:27
  guesstimate is 462.2 extra hashes and the pending fees.
• 11:32
  Yo all right, this is getting crazy guys.
• 11:35
  It's at 43.41 BTCI. Think over the weekend it was at
• 11:39
  like 30 something. It's getting crazy out there.
• 11:43
  I don't know what's going on this ordinals, inscriptions,
• 11:46
  Bitcoin stamps, it's getting crazy.
• 11:49
  Hopefully we get a law in the mem pools so that we can all
• 11:53
  consolidate our UTXOS so that people can actually transact in
• 11:57
  Bitcoin. Anyways, you guys heard me rant
• 11:59
  about this during the week and the blocks are having 17,885 and
• 12:03
  the having estimate, at least according to today, we're not
• 12:07
  hitting the meme date. It's roughly going to be April
• 12:11
  19th, 2024, at least based on today's numbers.
• 12:15
  Anyways, let's get into this video and the reason I wanted to
• 12:19
  start with this video. Of course I I can always start
• 12:22
  in different directions, but I think this is a great way to tee
• 12:25
  up what we're seeing coming from Elizabeth Warren and you can see
• 12:28
  here Chad Saylor Giga Chad Saylor is just constantly making
• 12:32
  the rounds. He's constantly on corporate
• 12:34
  press basically saying what we say on simply Bitcoin every
• 12:38
  single day. But of course, you know, in his
• 12:41
  rocket scientist way, he's able to elaborate on what we're
• 12:45
  saying and say it to the public audience out there, the people
• 12:48
  that still watch Bloomberg. And he's basically saying what
• 12:51
  we're saying. What I've been saying personally
• 12:53
  that going into next year, going into the halving, that 2024
• 12:58
  might just be one of the most epic bull runs we've seen yet.
• 13:02
  I know we're all being very conservative.
• 13:05
  We're all kind of terrified we have PTSD about making price
• 13:08
  predictions, but everything I'm seeing is just kind of telling
• 13:12
  me that everyone is bearish out there and you guys are all
• 13:15
  afraid of what's actually going to happen.
• 13:17
  I I've been saying this constantly.
• 13:20
  We're having institutional adoption like the black rocks of
• 13:22
  the world starting to get interest in Bitcoin, which means
• 13:25
  they're going to educate their customers, which means corporate
• 13:28
  press is going to constantly be talking about Bitcoin.
• 13:30
  We're going to have the having a line up at the same time we're
• 13:33
  going to have the election cycles all happen at the same
• 13:36
  time. And we have what?
• 13:39
  Like I I forget what the numbers is, but like 70% of all Bitcoin
• 13:43
  being huddled long term, like there is not that much Bitcoin
• 13:47
  on the exchanges. And we know what happened.
• 13:50
  When number goes up, it gets absolutely frothy.
• 13:52
  Well, look, don't take my word for it.
• 13:55
  Maybe take Giga Chad Sailor's word for it.
• 13:57
  He's saying exactly what I'm saying.
• 13:59
  Just, you know, he's a little more eloquent.
• 14:01
  He, he he can talk a little better than me.
• 14:03
  But guys, remember the signal. Everything is going according to
• 14:07
  plan. Everything is perfect.
• 14:09
  Everything is good for Bitcoin. And again you know the Elizabeth
• 14:13
  Warren of the world attacking Bitcoin.
• 14:15
  It's just more PR they're the they're the best marketers of
• 14:18
  Bitcoin we could ever have. So it's just it's such a perfect
• 14:21
  I I keep, I'm trying not to say perfect storm because that
• 14:24
  sounds kind of negative. It it's just a perfect alignment
• 14:28
  of everything. It's it's like a, you know,
• 14:31
  perfect tender for a very great explosion in price.
• 14:34
  It's going to be so beautiful. Anyways, let's hear Saylor talk
• 14:37
  about this and then of course I'm going to kind of reel this
• 14:41
  into what we're going to talk about with Elizabeth Warren and
• 14:44
  you can see why they are so terrified.
• 14:46
  So let's play this, guys. Me is Michael Saylor.
• 14:50
  He is Co founder and executive chair of MicroStrategy.
• 14:54
  Of course, MicroStrategy, often seen as a Bitcoin proxy, is
• 14:57
  holds a lot of it on its balance sheet.
• 14:59
  Michael, great to see you. Thank you so much for joining
• 15:01
  us. Obviously there has been so much
• 15:03
  anticipation and frankly a lot built in, I think to the price
• 15:07
  of Bitcoin, of this idea that spot ETFs are finally going to
• 15:10
  come. What's the next catalyst for
• 15:13
  Bitcoin if and when that happens?
• 15:14
  How much further can it be pushed upward?
• 15:18
  Well, I think you can't really underestimate the significance
• 15:20
  of the spot ETFs, but it's not unreasonable to suggest that
• 15:24
  this may be the biggest development on Wall Street in 30
• 15:27
  years. I mean the last thing that was
• 15:29
  this consequential was the creation of the S&P index and
• 15:33
  the ability to invest in all 500 S&P companies via one trade at
• 15:37
  the same time. So this is very eagerly
• 15:40
  anticipated. But most of the money in the in
• 15:43
  the Bitcoin market right now is, is the hodlers and the
• 15:47
  traditional crypto investors, mainstream investors, mainstream
• 15:51
  retail, mainstream institutions have not had a high bandwidth
• 15:56
  compliant channel to invest in this asset class until the spot
• 16:00
  ETFs. So I think in January, the
• 16:03
  approval of the spot ETFs is going to be a major catalyst
• 16:06
  that's going to definitely drive a demand shock.
• 16:09
  And then that will be followed in April with a supply shock
• 16:13
  because there are about 900 Bitcoin a day available for Sale
• 16:16
  by natural sellers, the miners and that number is going to be
• 16:20
  cut to 450 Bitcoin a day in April.
• 16:23
  So it's a it's a pretty big deal.
• 16:26
  And that puts Bitcoin where? A year from now.
• 16:30
  Higher. There's a How much?
• 16:34
  We could probably keep a bunch of economists and and modelers
• 16:38
  working all day long to calculate the supply, demand and
• 16:42
  price elasticity of this. I I don't think we've ever seen
• 16:46
  you know A2 to 10X increase in demand combined with a having
• 16:51
  and supply in a scarce desirable asset that people want to hold
• 16:56
  for a long period of time. So I think we're expecting 2024
• 17:00
  is going to be a major bull run for the asset class.
• 17:04
  We just don't know how far the assets going to run at this
• 17:07
  point. Let's go.
• 17:09
  Oh man, I love She's at the Sailor.
• 17:12
  Everyone can say what they want about Sailor, but I love when he
• 17:15
  goes on corporate press and they're trying to press him on
• 17:17
  what's the price predictions. And of course we try to be
• 17:20
  conservative. We try not to give what's the
• 17:22
  meme. We can give you a price target,
• 17:25
  but we can't tell you when. And she's like, all right, so
• 17:27
  how high is this going? He's like, it's going higher.
• 17:30
  Like, you know, wait, hold on. I have it in meme form for you.
• 17:33
  We have a new iteration of it. But this is basically what he's
• 17:36
  saying, guys. It's going up forever and.
• 17:38
  Everyone is like well give me a price target so I can trade
• 17:41
  this. He's like no, literally just buy
• 17:43
  it and hold it like everyone else and you're going to be OK.
• 17:47
  Anyways back to a kind of a a theme I've been sharing and and
• 17:51
  talking about on the show is the Bitcoin signal is going
• 17:54
  mainstream. I, you know, at the beginning of
• 17:56
  the year we were kind of talking about like oh maybe Bitcoin is
• 17:58
  crossing the Rubicon into mentioned consciousness.
• 18:01
  It's becoming extremely obvious to me that every single person
• 18:05
  on planet Earth, especially on corporate press on Wall Street,
• 18:09
  any person that is worth their financial salt is going to have
• 18:13
  to have an opinion on Bitcoin. So moving forward, as the price
• 18:16
  starts to go up, as Bitcoin starts to hit the six figure
• 18:19
  numbers, everyone will have an opinion and you just love to see
• 18:23
  him. And then of course like I, I
• 18:24
  keep hearing yellow in my head. You know everything's macro,
• 18:27
  macro, macro. Yes I know.
• 18:29
  And and even shout out to the bugle they they keep trolling us
• 18:32
  because we're constantly talking about the Bitcoin ETF guys.
• 18:34
  This is where we are in the news cycle.
• 18:36
  We have to constantly cover this because this is the news right
• 18:39
  now and I know. Yes, Bitcoin ETF.
• 18:41
  This Bitcoin ETF that. It's just where we are right
• 18:45
  now. Bitcoin is maturing, but I love
• 18:47
  the comparison that Saylor used about Bitcoin.
• 18:52
  Getting a spot Bitcoin ETF might be the biggest development on
• 18:55
  Wall Street since the S&P 500, since you can make one trade in
• 18:59
  a basket of of stocks. You're seeing that.
• 19:03
  Look, I've said this in the past.
• 19:05
  It's not that Larry Fink or the Black Rocks of the world.
• 19:07
  It's not that they like Bitcoin. They want to make money.
• 19:11
  They're hearing their customers tell them, hey, we want exposure
• 19:14
  to Bitcoin. And now the loopholes, the
• 19:17
  obstacles are getting cut, the red tape starting to get cut and
• 19:20
  people are going to have a way to get exposure to Bitcoin.
• 19:23
  Obviously this is baby steps because here at Simply Bitcoin,
• 19:26
  we tell you guys to constantly take Bitcoin into custody.
• 19:30
  Do not buy a spot Bitcoin ETF. It's not real Bitcoin.
• 19:33
  So the point remains the same. There is going to be a mountain
• 19:37
  of capital coming into Bitcoin. Of course, we're not just number
• 19:40
  go up advocates here, we are freedom and sovereignty
• 19:43
  advocates. We want you guys to own your own
• 19:44
  money because that's the whole point of Bitcoin.
• 19:47
  And then the way I'm going to link this into Elizabeth Warren
• 19:50
  in the next segment is what Saylor said.
• 19:54
  Wall Street is looking for exposure and the fact that we're
• 19:58
  seeing Elizabeth Warren, you know, Jamie Dimon all come out
• 20:03
  and be like, oh man. How can we stop this?
• 20:06
  Because people want it and they know it's unstoppable.
• 20:08
  And the more people get on Bitcoin, the more this becomes
• 20:11
  even more unstoppable. Hence why you're seeing that
• 20:14
  knee jerk reaction from Elizabeth Warrens of the world.
• 20:16
  Because they're absolutely terrified.
• 20:18
  The banks know what's going on. The banks know that had Bitcoin
• 20:20
  has called their number and their time is limited and it's
• 20:24
  only a matter of time. It's 11th grade math before
• 20:27
  everyone wakes up to what is actually going on.
• 20:30
  Everyday people, average everyday people are realizing
• 20:33
  that the Fiat system is working against them and they need to
• 20:35
  find an alternative. I think most people know the
• 20:37
  problem. I've been saying this
• 20:38
  constantly. I've been beating this drum.
• 20:41
  It's almost like everyone knows the problem, they just don't
• 20:43
  know what the solution is. So we know the solution is
• 20:46
  Bitcoin and Saylor said. You know, what's the price?
• 20:50
  I don't know. It's going to go higher.
• 20:52
  So you want to hold some, you want to have exposure, and of
• 20:55
  course you want to take your Bitcoin into custody.
• 20:57
  Anyways, Jaime, what's your thoughts on this?
• 20:59
  And then we'll get Sophie's thoughts.
• 21:00
  Kind of Sophie's just going to get stupidly bullish with me.
• 21:02
  So, Jaime, what's your thoughts? Well, I I I think it's really
• 21:06
  funny that you know politicians still don't grasp what Bitcoin's
• 21:11
  all about. And they they have all these
• 21:12
  talking points about you know what, you know hardware wallets
• 21:16
  and you know how we how it's dangerous.
• 21:20
  Like really if you can remember 12 seed words, nobody can take
• 21:24
  that away from you. Nobody can censor you.
• 21:26
  Like it's still, you know, yours to hold and and there isn't one
• 21:32
  thing that Warren can do about it.
• 21:34
  And I guess it just goes to show you how much more awareness has
• 21:39
  to be done at that level. But at a certain level, I kind
• 21:44
  of don't want it to. I don't want those guys to have
• 21:48
  that level of awareness because you know, they can pass laws all
• 21:52
  they want. It's really not going to matter.
• 21:54
  Like as long as I get there's just no way they can regulate
• 21:58
  this. The other thing that I find
• 22:00
  funny is like how will they get, you know, the these these guys,
• 22:03
  the bankers to write the law, which you know what they've
• 22:08
  always done that it's just that it's more overt now and they're
• 22:11
  like and more transparent about it.
• 22:13
  But you know, they've, they've always done that and you know
• 22:17
  it. It just shows their the
• 22:20
  incompetency of of officials, believe it or not.
• 22:26
  And you know, I'm not alone on this one.
• 22:28
  I I can't claim that I was like enlightened and and have always
• 22:34
  been enlightened, but at some point in my life, and it's
• 22:38
  almost hard to say, I actually had, you know, some level of
• 22:44
  respect for for Warren because they, especially Democrats, they
• 22:49
  talk a good game about how they're rooting for the little
• 22:53
  guy. You know they're they're there
• 22:55
  on their side and they they get elected and they completely
• 22:59
  forget about them And you know it's it's like this everywhere.
• 23:03
  It's like this in the US it's like this in Canada where I live
• 23:06
  and it used to be like that in El Salvador where I'm from and
• 23:11
  and I think we still got a long ways but man are they wrong.
• 23:15
  And and and just to finish off paper Bitcoin.
• 23:20
  Don't do it guys. I mean, it's a good ad.
• 23:22
  I'll say that, you know, like the the fella, the moon, the
• 23:26
  Most Interesting Man in the World immediately put that ad
• 23:30
  over the top. Like, kudos, great creative.
• 23:34
  And what I love about it even more is that it's become a meme.
• 23:38
  Like, I saw Cedar actually make their own version of it and you
• 23:42
  know, people are making their own.
• 23:44
  Like Frankie was like Bitcoin. You know, like it's just great.
• 23:48
  So, like, more fodder for the Beamers.
• 23:51
  So love it. Love it.
• 23:53
  I'm going to pass it off to you before I ramble on and 'cause I
• 23:57
  get going and I don't stop. Well, we'll give you, we'll give
• 23:59
  you time to ramble. But yeah, I I totally agree.
• 24:02
  And and that's one of the things I really like to, you know,
• 24:05
  angle this out is like, look, everyone knows we're simply
• 24:08
  Bitcoin, we're we're always going to angle this back to
• 24:10
  Bitcoin. But like you said, I mean like
• 24:13
  it's not necessarily about Bitcoin the product, it's about
• 24:15
  what Bitcoin does for you, the individual.
• 24:18
  And this is the only way that the average person can actually
• 24:22
  actually, you know Occupy Wall Street to opt out of this
• 24:25
  madness to live a better life. Because again, we're using
• 24:28
  sailor as an example here. Everyone saving in Fiat is
• 24:31
  holding melting ice cubes and it just seems like no one
• 24:34
  understands that the the just the basic mechanics of what's
• 24:37
  going on here. Like you are getting poorer
• 24:39
  people and you need to find a way to protect yourself because
• 24:43
  as we're going to show these people do not care about you.
• 24:45
  It's all about getting re elected.
• 24:48
  And like you said, they run on these platforms about I'm here
• 24:51
  for the little man. And then they get in the office
• 24:54
  and someone taps on their shoulder and starts to pay their
• 24:56
  bills and then their narrative switches and then they continue
• 25:01
  to come out here and they're like we're here to help.
• 25:03
  You trust us, guys. You remember who I was and we're
• 25:06
  just constantly bringing the receipts.
• 25:08
  Like, no, they're not here to help you at all.
• 25:10
  This is why Bitcoin was created. You need to protect yourself.
• 25:14
  It's as simple as that. You want to live a good life,
• 25:16
  you need to own some Bitcoin anyway.
• 25:18
  Sophie, jump in. What's your thoughts on all
• 25:19
  this? One of the most interesting
• 25:22
  things that I think Satoshi did when developing Bitcoin is
• 25:27
  figuring out the fundamental flaw of Fiat being that it's
• 25:33
  greed, power, control, corruption.
• 25:37
  And he took that human flaw and he essentially embedded it into
• 25:42
  Bitcoin so that the price goes up forever.
• 25:46
  And so that at some point, as Saylor mentioned in that video,
• 25:49
  people buy in. Why?
• 25:51
  Because they care about the fear of missing out more than they
• 25:55
  care about actually saving themselves from the Fiat
• 25:59
  corruption that is affecting their daily lives.
• 26:02
  So I thought it was really funny in that video how he's like, I
• 26:05
  mean it's going to get higher and the girl's like how much.
• 26:09
  It doesn't matter how much it's going up forever.
• 26:12
  Laura. The whole point here is more
• 26:15
  than the number go up which by the way these huge corporations
• 26:19
  are very late to the game at or we're just very early.
• 26:25
  The whole point of it is more than the number go up is that
• 26:28
  it's going to save us from tyrants like Lion Liz.
• 26:31
  I know you guys like to call her Lizzie Pie but I like to call
• 26:35
  her Lion Liz because she's literally lied about everything
• 26:38
  since the moment she came into power.
• 26:40
  She claims to care about the the little man.
• 26:43
  She doesn't. She claims to care about public
• 26:46
  welfare. She doesn't.
• 26:47
  If she did, she wouldn't be fighting this hard against the
• 26:51
  hardest money that has ever existed.
• 26:54
  And like, you know, I love that Bitcoin calls out people's greed
• 26:59
  and uses that to save themselves.
• 27:02
  I think it's it's it's actually a great phenomenon that we
• 27:07
  should all explore. I you know, as much as I love
• 27:11
  all of bitcoins fundamentals, you know, censorship resistant
• 27:16
  and audible supply F you money. As we like to say, one of my
• 27:20
  favorite favorite aspects of this is just exposing people.
• 27:25
  It's so simple. Like it?
• 27:27
  If you draw a line in the sand, if they're what's it?
• 27:29
  Wait, wait, I have it here. I've almost forgot about this
• 27:32
  one. You're against Bitcoin.
• 27:34
  You're against freedom. It's such a simple line in the
• 27:36
  sand. They can say all they want
• 27:38
  about, you know, they they can do all the lip service they want
• 27:41
  about him here for the little guy.
• 27:42
  I'm. I'm here for you.
• 27:43
  I I want you to thrive and prosper.
• 27:46
  But then if you ask them about Bitcoin and they're against
• 27:48
  Bitcoin, you're just like, oh OK, I know, I know where you
• 27:50
  stand. I, I, it's as simple as this.
• 27:53
  You know, I I don't really like the one issue voter meme.
• 27:57
  But it's almost becoming like, hey, if they're against Bitcoin,
• 28:00
  then you know for a fact that they are not for your interests
• 28:05
  and it's just going to become even more and more clear moving
• 28:07
  forward. Anyways, let's get into this
• 28:09
  whole thing. So did you want to jump in?
• 28:10
  I I saw. I mean, they're either lying or
• 28:13
  they're stupid. They're either lying or they
• 28:15
  don't know what they're talking about.
• 28:17
  That's the thing. They're not stupid.
• 28:19
  They know exactly how this works and they know that this is a
• 28:23
  huge threat to their power and that's why they're trying to
• 28:27
  stop it. And that's why you have to take
• 28:29
  self custody. Agreed.
• 28:31
  Jaime, you want to jump in? No, I mean like it's both.
• 28:33
  It's a bit of a paradox actually because like it's like I don't
• 28:37
  think that they know what they're talking about, but at
• 28:39
  the same time like some people know what they're talking about
• 28:42
  and it's like, yeah, we'll have these useful idiots to to do all
• 28:46
  of this, right. But you know it's it's something
• 28:49
  that you said earlier OPTI, it's like the incentives like the the
• 28:54
  the four year election cycle A are a they're not a long time
• 29:00
  preference there. It's it's it's a short span of
• 29:03
  time in in which they need to you know gain votes and do
• 29:08
  whatever to get re elected again.
• 29:11
  You know it's high time preference and and I think that
• 29:13
  the incentives around politics are all wrong.
• 29:18
  You know they seek those donations they seek those votes
• 29:21
  and they have a four year window So they can only promise you and
• 29:25
  produce things that are in a four year cycle and and also
• 29:31
  that that are going to confuse you really and and and and for
• 29:37
  the most part like you know the the you really can't deliver on
• 29:40
  anything that's meaningful for the average person And so as
• 29:44
  long as they keep on on doing that you know like pounding on
• 29:49
  Bitcoin and and well and The thing is too is like the they
• 29:52
  put Bitcoin with crypto it's like you'll hear like crypto you
• 29:56
  know and and again you know like it's designed to confuse
• 30:01
  people's because the average normie just does not know the
• 30:04
  difference right. And when you don't know the
• 30:06
  difference, then, like, Bitcoin is crypto and then they can have
• 30:10
  these. Because at some point I was
• 30:13
  like, yeah, like, actually they're right.
• 30:15
  Crypto sucks. Like, it's like, absolutely, I'm
• 30:18
  on board. But they're including Bitcoin in
• 30:20
  all of that. And that's what's fundamentally
• 30:22
  wrong, right. So but yeah, like the incentives
• 30:25
  are all wrong around the the, the political election cycle.
• 30:31
  And that's how they're going to try to get everybody can get
• 30:34
  them confused and advance their, their points and their and their
• 30:37
  crappy laws. Yeah, 100%.
• 30:39
  Hi, May you. You said something that I say
• 30:41
  constantly. It's like these people would not
• 30:43
  be able to say what they're saying right now if they weren't
• 30:48
  thinking that they could continue to gaslight the
• 30:50
  population out there. Because no one understands
• 30:52
  what's going on with Bitcoin except for a small fraction of
• 30:55
  Bitcoiners. And the average person has a
• 30:57
  certain idea. You know, they had a headline in
• 30:59
  mind from the past. They heard about Bitcoin.
• 31:01
  They thought Bitcoin is dying. And then the politicians come
• 31:04
  out and they just reinforce exactly what they think they
• 31:06
  know about Bitcoin. And as long as that continues to
• 31:09
  work, they'll continue to say all kinds of crazy stuff about
• 31:13
  Bitcoin. This is just the beginning of
• 31:15
  this. So just bucker down, be prepared
• 31:17
  for this. You know, it's a marathon, not a
• 31:19
  Sprint, guys. We're in this for the long run,
• 31:21
  so it's only going to get crazier before it gets better.
• 31:24
  Anyways, before I move on guys, Shouts out to the boys over at
• 31:28
  the Bitcoin conference. We're going to take over
• 31:29
  Nashville this year, July 25th to 27th.
• 31:32
  Tickets are, I guess, going to increase in a couple of days.
• 31:36
  You guys constantly tell me the same thing.
• 31:38
  The prices are too expensive. I should just stack Bitcoin.
• 31:41
  Obviously always stack Bitcoin, But if you want to hang out with
• 31:44
  us in Nashville, if you want to hang, think out with like minded
• 31:47
  individuals. If you if you want to stop being
• 31:49
  the lone crazy person in your neighborhood and realize that
• 31:52
  there's other people like you, come to Nashville.
• 31:55
  We are going to take over July 25th, the 27th of next year and
• 31:59
  you can get a discount today. This is the cheapest the prices
• 32:01
  will be moving forward. I know you're going to FOMO into
• 32:03
  the conference, use the promo code simply and you can get a
• 32:06
  discount. But enough of that, let's let's
• 32:09
  let's fully devour Elizabeth Warren's today in this anti
• 32:11
  Bitcoin ban. I want to give a shout out to
• 32:20
  our sponsor, Foundation Devices. It's self custody done right.
• 32:25
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• 32:28
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• 33:10
  you. Check out the passport link in
• 33:12
  the show notes below to learn more.
• 33:16
  Whoa, whoa. What's going on here?
• 33:18
  Hold on one second. You guys hear that?
• 33:23
  All right? I have no idea.
• 33:25
  Hold on, Hold on, hold on. Where is this audio coming from?
• 33:35
  Hold on. I don't know what's going on
• 33:37
  over here. I have.
• 33:39
  I have some crazy, crazy audio going on right now.
• 33:47
  That's crazy. All right, there we go.
• 33:51
  Wait, is it me? It might be me.
• 33:55
  Yeah, Yeah, I think it's something.
• 33:57
  Yeah. OK.
• 33:58
  It was Sophie. All right, You got you got me,
• 34:00
  you got me all shook. I'm like, where is this coming.
• 34:02
  All right. Anyways guys, mine is the
• 34:04
  technical difficulty. Everybody's crazy checking their
• 34:08
  levels. Okay.
• 34:11
  Well thank you Sophie. Quit hitting the soundboard
• 34:14
  anyways. Anyways guys, of course you know
• 34:17
  I've been I've been giving Nico some crap.
• 34:18
  Don't think about it. Hit the QR code, get yourself a
• 34:21
  hardware wallet and, you know, make sure that your Bitcoin is
• 34:25
  secure. Anyways, I wanted to start this
• 34:27
  one with a meme. You guys have been yelling me,
• 34:29
  yelling at me about memes. And I I brought this on last
• 34:32
  week and I and I thought this was just like the perfect,
• 34:35
  perfect way to start this whole fiasco.
• 34:38
  You know, we talked about this yesterday.
• 34:41
  We talked about this on Monday. We've been talking about it
• 34:44
  since this bill initially hit our desk.
• 34:47
  You know, Elizabeth Warren came out, she wants to essentially
• 34:50
  ban self custody in Bitcoin and it's not like it's so obvious
• 34:56
  why she's doing this. You know, it's not a coincidence
• 34:59
  that we get all this endorsements from the black
• 35:03
  rocks of the world by the spot Bitcoin ETF and then in the same
• 35:07
  breath we have this de facto ban of Bitcoin custody because you
• 35:12
  know that it's not so much about them not understanding what's
• 35:16
  going on. It's about them trying to stop
• 35:17
  Bitcoin. And one of my good friend skeef
• 35:20
  he he jokingly and trollingly on Twitter is always like, what
• 35:24
  guys, what? What are we freaking out about?
• 35:25
  Like why are why are we stopping Elizabeth Warren from
• 35:29
  accelerating Bitcoin adoption? She is doing such a great job.
• 35:33
  Let her continue, let her cook. Boys and I kind of agree, even
• 35:37
  though I realized that there is a lot, a lot that could go wrong
• 35:42
  if this actually passes. And we played a a video
• 35:46
  yesterday about it was on what Bitcoin did with Peter
• 35:50
  McCormick. And it was basically saying that
• 35:53
  Roger Marshall, you know, GOP frontman, he and Elizabeth
• 35:57
  Warren were the ones that started this bill.
• 36:01
  And there was a rumor going around that there was video of
• 36:04
  him essentially with the Freudian slip saying they're
• 36:07
  like, Oh yeah, we talked to the American Bankers Association and
• 36:11
  we wrote up this bill to essentially stop Bitcoin.
• 36:14
  And the amount of projection in this bill, the amount of just
• 36:17
  like we're trying to maintain our regulatory melt, it's just
• 36:21
  it's asinine, it's hilarious. But this just goes into what I
• 36:25
  always say, man, when these criminals, when the when the
• 36:27
  people you're trying to protect yourself from are the ones
• 36:30
  calling you criminals. What what they call us, you
• 36:32
  know, shadowy super coders, where illiterate Ad IQ
• 36:36
  bitcoiners where financial terrorists where money
• 36:40
  launderers. We're literally all the worst
• 36:43
  things you can call in the world to try to stop this Bitcoin
• 36:45
  thing and they cannot stop it. And then we have what I would
• 36:49
  say is the smoking gun coming out that it's becoming very
• 36:52
  obvious that that the banks are absolutely terrified of Bitcoin
• 36:57
  because it even says it in the white paper and I'm going to
• 36:59
  have it here. You know the whole point of
• 37:01
  Bitcoin is to eliminate the trusted third parties.
• 37:04
  Well guess who that is? It's the banks.
• 37:06
  If people aren't holding their money in a banks then the whole
• 37:09
  banking business model goes up in the in smoke and they know
• 37:13
  this and we just talked about it in the numbers.
• 37:17
  Technically. I think Jaime is right that the
• 37:21
  politicians and the bankers, for the most part, 99% of the time,
• 37:26
  technically they don't know how Bitcoin works, they're just
• 37:29
  spewing out the mouth. But theoretically, I think they
• 37:32
  fully understand what's at stake.
• 37:33
  And This is why you're seeing the Brad Sherman's and the
• 37:36
  Elizabeth Warren's roll out and try to stop Bitcoin and say
• 37:39
  whatever they can to gas like the individuals out there, the
• 37:41
  normie out there that doesn't know what's going on.
• 37:45
  And man, it's just absolutely disgusting.
• 37:48
  But here we go, not simply Bitcoin.
• 37:51
  Our main job is just to constantly roll out the lies,
• 37:55
  the hypocrisy, the BS that we're seeing from not only the
• 37:57
  corporate press, but from the politicians and from the bankers
• 38:01
  and anyone else that is against Bitcoin.
• 38:03
  Because. You're against Bitcoin.
• 38:04
  You're against freedom. Here we go from the horse's
• 38:08
  mouth himself. Roger Marshall.
• 38:10
  You can see here the Chamber of Digital Commerce tweeted this
• 38:12
  out yesterday said who could be so brazen as to write
• 38:15
  legislation that would effectively ban.
• 38:18
  And I'm going to use Bitcoin because we all know it's Bitcoin
• 38:20
  and not crypto. And then we have Senator Roger
• 38:22
  Marshall the GOP frontman of the Bitcoin ban bill revealed that
• 38:27
  the American Bankers Association wrote it.
• 38:30
  Who would have saw this coming? Guys, it's it's almost like
• 38:33
  Bitcoin has constantly said the same thing.
• 38:35
  Is that if people know what's going on, they just play dumb.
• 38:40
  They placate the average person out there that has no idea
• 38:43
  what's going on and they continue to gaslight you.
• 38:46
  So let's hear it from his mouth. Guys, this is a smoking gun as
• 38:49
  far as I'm concerned. Senator Warren and I have
• 38:51
  authored the Digital Asset Anti Anti Money Laundering Act that
• 38:56
  represents a step in the right direction.
• 38:59
  Again, I think that this is the light touch.
• 39:01
  The first thing we did is we went to the American Bank
• 39:04
  Association and said help us craft this.
• 39:07
  And I don't know if you saw Senator Warren's hearing with
• 39:10
  Jamie Dimon yesterday, but Mr. Dimon said basically his opinion
• 39:14
  crypto was only a tool for criminals.
• 39:17
  And I think the beginning is that light touch by by by the
• 39:20
  federal government as opposed to a heavy touch as well.
• 39:24
  That's about all I know about crypto, the meme that's so good
• 39:30
  that at the very end that's that's about all I know about
• 39:32
  Bitcoin. Anyways, let me touch on
• 39:34
  something before I play you this Jamie Dimon and Elizabeth Warren
• 39:37
  video. Just just to refresh your
• 39:38
  memory. The first thing is something
• 39:40
  I've been saying for a while is that any overt like full attack
• 39:45
  on Bitcoin, whether custody or Bitcoin mining in the States, it
• 39:49
  would be way too much PR for Bitcoin.
• 39:51
  So in his own words, he's saying exactly what we've been saying.
• 39:54
  They're trying to find roundabout ways to hamper or
• 39:56
  rather stop the adoption of Bitcoin because they know that
• 39:59
  the game is up and the more people that save in Bitcoin, the
• 40:03
  more their hypocrisy gets exposed and.
• 40:07
  Guys like do we have to hit the elephant on the room that the
• 40:09
  very people Bitcoin protects you from are the ones that are
• 40:12
  writing the Bitcoin, the anti Bitcoin ban of custodying your
• 40:16
  Bitcoin. Like you couldn't make this
• 40:18
  stuff up. This is the world we're living
• 40:19
  in. This is how lobbying groups
• 40:21
  works. This is how politics works
• 40:24
  everywhere. And I don't know if I don't
• 40:26
  know, guys. I don't know if he was saying
• 40:28
  this like in a gloating manner or it was just a Freudian slip
• 40:33
  and and he didn't realize like what he said, but the fact that
• 40:37
  the American Banking Association wrote a bill to try to stop you
• 40:41
  from remembering 12 words in your brain is absolutely
• 40:45
  laughable. Not only is this not
• 40:47
  enforceable, but just the audacity and the projection from
• 40:51
  the bankers. It's absolutely hilarious.
• 40:54
  But anyways, let's let's remember what Jamie Dimon said
• 40:57
  with Elizabeth Warren last week 'cause I think there's even more
• 41:00
  projection coming from here. And we've been covering this
• 41:02
  constantly. But when you put these videos
• 41:04
  back-to-back it, it just goes to show how ridiculous this whole
• 41:08
  charade is. I've always been deeply opposed
• 41:10
  to crypto, Bitcoin, etcetera. You pointed out the only true
• 41:14
  use case for it as criminals, drug traffickers, anti money
• 41:17
  learning, tax avoidance. And that is a use case because
• 41:21
  it is somewhat anonymous, not fully and because you can move
• 41:23
  money instantaneously, and because it doesn't go through as
• 41:27
  you mentioned, All these systems have built up over many years.
• 41:30
  Know your customers sanctions O FAC didn't get bypass all of
• 41:33
  that. I if I was the government I'd
• 41:35
  close it down. OK.
• 41:37
  I've always been. Oh man.
• 41:40
  You can see, you can see what the narrative is here, guys.
• 41:44
  Of course, we're all criminals. We're all money launderers, you
• 41:48
  know? Now what was the new meme?
• 41:50
  Where we're traitors. It just goes to show, when
• 41:53
  you're trying to protect your property from the thieves, from
• 41:57
  the looters, they're going to use their whole apparatus to
• 42:00
  paint you as the criminal so that the average person doesn't
• 42:04
  know exactly what's going on. Okay, guys.
• 42:05
  Now I just want to touch on a few things from this bill just
• 42:09
  to show how ridiculous this is and and just to show how
• 42:13
  prophetic Satoshi was in the white paper.
• 42:16
  Anyways, here we are on Elizabeth Warren's website here,
• 42:19
  and she's talking about the Anti Digital Asset Anti Money
• 42:22
  Laundering Act, AKA the basically banned Bitcoin Self
• 42:25
  Custody Act. And there's just one portion
• 42:28
  that I wanted to read. It's just kind of to highlight
• 42:30
  what this act would do and and really to highlight how
• 42:34
  ridiculous this is and unenforceable it is.
• 42:36
  But again, technically, I would say they don't know how Bitcoin
• 42:40
  works. And in their own words, it shows
• 42:42
  that they don't know how Bitcoin works.
• 42:44
  But theoretically, they understand exactly what's at
• 42:48
  stake. And I think that's what we have
• 42:49
  to remember. It's not so much that they're
• 42:50
  naive. Yes, they're computer
• 42:52
  illiterates, but they know what they're trying to do.
• 42:55
  They're trying to stop the adoption of Bitcoin anyways.
• 43:00
  The Digital Asset Anti Money Laundering Act would extend Bank
• 43:03
  Secrecy Act responsibilities, including KYC requirements to
• 43:06
  digital asset wallet providers, miners, validators, and other
• 43:10
  network participants that may act to validate, secure, or
• 43:12
  facilitate digital asset transactions.
• 43:14
  First and foremost, this is completely unenforceable.
• 43:18
  Like there's no way that my note is going to be able to KYC any
• 43:21
  one of you guys yet. It's either they fully don't
• 43:24
  understand the technicalities of Bitcoin or they know that you
• 43:27
  don't the average person and they're just going to try to get
• 43:31
  a wholesale law pass to try to hamper Bitcoin adoption.
• 43:35
  And then again, the next one, which has been the meme of all
• 43:38
  year, address a major gap with respect to quote UN quote
• 43:40
  unhosted digital wallets? Remember the meme I put up here
• 43:44
  of There was a hand and it had a Leech on it, and that was a
• 43:48
  hosted digital wallet? And then there was a hand
• 43:51
  without the Leech And that's an unhosted digital wallet.
• 43:54
  We we shouldn't even be using their doublespeak dystopian
• 43:57
  verbiage but this is what they're using in this bill which
• 44:01
  would allow individuals to bypass AML and sanctions check
• 44:04
  by directing FinCEN to finalize and implemented December 2020
• 44:07
  proposed rules which will require banks and money service
• 44:10
  businesses to verify customer and counterparty identities,
• 44:13
  keep records and file reports in relation to certain digital
• 44:16
  assets. Transaction involving unhosted
• 44:19
  wallets or wallets hosted and non BSA complied jurisdiction.
• 44:23
  It's almost like you know America or Elizabeth Warren and
• 44:26
  Co are trying to be the police of the world and trying to
• 44:29
  police what's going on with your your Bitcoin software.
• 44:33
  It's almost like we could you know maybe KYC everyone that is
• 44:38
  transacting on that no you can't even though they're trying.
• 44:41
  Anyways we saw the backlash of this.
• 44:42
  We saw that Fencenn tried to propose new rules and we saw
• 44:46
  banks, Fiat banking partners off and on ramps of Bitcoin react to
• 44:51
  this. You know they're trying to
• 44:52
  strengthen the enforcement of the Bank Secrecy Act.
• 44:55
  They're trying to extend the Bank Secrecy Act and of course
• 44:58
  they're trying to mitigate illicit finance risk of digital
• 45:00
  asset ATMs. We've we've covered this.
• 45:04
  The only reason I want to touch on all that is because it really
• 45:07
  highlights what was written in the white paper and this is my
• 45:10
  favorite portion. I I've been saying this to you
• 45:12
  guys. I don't even know how many times
• 45:13
  this year on the show, but it this is the very reason why
• 45:17
  Bitcoin was created. Guys, It's in the white paper
• 45:20
  itself. What is needed is an electronic
• 45:23
  payment system based on cryptographic proof instead of
• 45:27
  trust. Again, instead of trust allowing
• 45:30
  any 2 willing parties to transact directly with each
• 45:34
  other without the need for a trusted third party, Again
• 45:37
  without the need for a trusted third party.
• 45:40
  Well, what is not all these banks, but trusted third
• 45:42
  parties. They're terrified that Bitcoin
• 45:45
  dis intermediates their Moat, that it stops the money printer,
• 45:49
  that it literally not only exposes the game but breaks the
• 45:52
  game. And then, you know, just to end
• 45:54
  this on a on a high note, we saw Elizabeth Warren come out
• 45:58
  yesterday and you know, she wrote a political or rather
• 46:02
  political wrote an article here. You know, Warren accuses ex
• 46:06
  defense leaders of stonewalling, terror financing, crackdown in
• 46:09
  response to all of this stuff. You know, she's basically saying
• 46:12
  that veterans out there that are pro Bitcoin are I I what was it?
• 46:17
  What's the new meme? We're traitors to America
• 46:20
  anyways. The reason I brought this up is
• 46:22
  just just to show the power that you guys have as individuals and
• 46:26
  just the power of the community. Note So Elizabeth Warren quote
• 46:30
  treated this political article and she goes crypto companies
• 46:32
  are spending millions building an army of former defense and
• 46:35
  law enforcement officials to lobby against new rules shutting
• 46:38
  down crypto finance terrorism. This revolving door boosts the
• 46:42
  crypto industry, but in dangers our national security and you
• 46:45
  just love to see the community notes on Twitter.
• 46:47
  Cryptocurrency is objectively less than 1% of all monetary
• 46:51
  illicit activity. There's also nothing supporting
• 46:54
  the claim that it could threaten national security.
• 46:56
  Cash is untraceable, block chains or public ledgers.
• 46:59
  It's almost like the real criminals use Bitcoin.
• 47:02
  Anyways, I want to touch on a quote here in the Political
• 47:04
  article because, you know, we're talking about Bitcoin here and
• 47:09
  she is, you know, she's in the Senate, she's in DC where the
• 47:14
  real revolving door happens, and I just love exposing the
• 47:17
  hypocrisy coming out of the politicians in the banker's
• 47:19
  mouths. So here's she's quoted in
• 47:21
  Politico and she goes. This abuse of the revolving door
• 47:24
  is appalling, revealing that the crypto industry is spending
• 47:27
  millions to give itself a veneer of legitimacy while fighting
• 47:30
  tooth and nail to Stonewall common sense rules designed to
• 47:33
  restrict the use of crypto for terror financing rules that
• 47:36
  could cut into crypto company profits.
• 47:39
  It also reveals significant gaps in the national ethics laws.
• 47:43
  Oh my goodness. Absolutely incredible.
• 47:46
  Incredible. And then just I just one last
• 47:48
  thing shouts out to Pierre Rashard.
• 47:50
  Just the absolute goat. You know she's been getting
• 47:53
  ratioed on Twitter. I I really wonder whether
• 47:56
  Elizabeth Warren listens to any of the backlash or does she just
• 48:00
  take the High Road and she's like these idiots don't know
• 48:03
  what they're talking about. Anyways, Elizabeth Warren
• 48:05
  tweeted, tweeted this yesterday. She goes.
• 48:07
  No one should have to wonder whether Supreme Court Justice is
• 48:10
  putting the interests of their billionaire benefactors ahead of
• 48:12
  the rule of law. And then of course Pierre
• 48:15
  Rashard with the ratio. No one should have to wonder
• 48:18
  whether Senator is putting the interest of big banks ahead of
• 48:21
  the Bill of Rights. Yes, Senator Elizabeth Warren,
• 48:24
  I'm looking at you. Oh my goodness, it it's so
• 48:28
  awesome when you have these powers as just an average
• 48:31
  individual, The power of truth to go out here, to have a show
• 48:34
  like this, to just constantly expose their hypocrisy.
• 48:38
  And and XXI, see you in the chat.
• 48:40
  You said why? Why are we worrying about this
• 48:42
  stuff? The reason we constantly come on
• 48:45
  here and talk about this is so that we can expose the
• 48:48
  hypocrisy. Because the average people still
• 48:51
  believe these headlines. The average people still believe
• 48:53
  these narratives. And until you start to sow the
• 48:57
  seeds of doubts in their brains that, hey, maybe they don't have
• 49:00
  your best interest in mind, they're gonna just follow along
• 49:03
  with the party, the party line. So we're here to try to expose
• 49:06
  the hypocrisy. Some people know why we do what
• 49:09
  we do. We simply want to hold something
• 49:12
  that these people cannot steal from us so that we don't just
• 49:15
  get poorer following this ridiculous, ludicrousy coming
• 49:19
  out of Washington, DC. The clown world is accelerating,
• 49:23
  and this is the stuff. It just gets me so giddy.
• 49:25
  I, you know, I've been saying for a while Brad Sherman's my
• 49:28
  favorite politician. But I think now Elizabeth
• 49:30
  Warren, you know, might be my favorite politician because
• 49:34
  she's just thoroughly exposed the game.
• 49:36
  She is bought and paid for by the big banks.
• 49:38
  She's playing cover for the big banks.
• 49:40
  The big banks are terrified of Bitcoin because it stops the
• 49:44
  regulatory mode. I I just love this.
• 49:46
  Anyways, I've been ranting way too long.
• 49:48
  Jaime, what's your thoughts on this?
• 49:50
  I I see you as giddy as I am and hold on.
• 49:54
  We're going to give Sophie the floor too.
• 49:55
  And she's going to get absolutely toxic.
• 49:57
  So let's go with Jaime for, and then we'll go with Soph.
• 50:00
  No, I mean I I all I want to say is that like BTC Sessions
• 50:03
  actually posted a comment underneath Elizabeth Warren's
• 50:08
  post and he actually just ratioed her.
• 50:16
  He's got on his post more views than her original view and all
• 50:21
  he did was share and highlight a a a bit of a of a paragraph in
• 50:26
  her profile in her on her website.
• 50:28
  And it says Elizabeth has spent her career fighting for American
• 50:33
  families and this is the party highlights holding big banks
• 50:37
  accountable. You know like like the irony
• 50:43
  can't get any bigger on that one because how can you hold big
• 50:50
  banks accountable when they're actually writing your bills.
• 50:56
  Like, I mean, it's just like we live in a simulation right now,
• 51:00
  like or she's just completely lost the plot.
• 51:02
  Like this is just ridiculous. Like it's it's a comedy like
• 51:07
  this. This can't be possible that this
• 51:09
  is real right now, but but it is.
• 51:12
  I just wanted to highlight that one piece because it really sums
• 51:16
  it up for me. I mean, like, we really can't
• 51:18
  take this lady serious at this point.
• 51:21
  Yeah 100% and and you know I I try, I what I try to do a lot of
• 51:27
  times and and I know all of us bitcoiners, you know we're so
• 51:31
  outside the Overton window and Jaime you you hit the nail on
• 51:34
  the head. It's like, guys, we're trying to
• 51:36
  reach the average person and and try to be like, hey, I see where
• 51:40
  you're coming from though. Try to see it from our light.
• 51:44
  And I think it's becoming clear, like, I know people are still
• 51:46
  voting for Elizabeth Warren. But even in, like, DCI think
• 51:50
  it's becoming clear that Elizabeth Warren is an
• 51:52
  extremist. And they're like, yo, hey, like,
• 51:54
  even this lady's too crazy for us.
• 51:56
  And you know, the federal government's been trying to ban
• 51:59
  Bitcoin mining. And like, they're kind of like,
• 52:02
  listen, Lizzie, I don't even think we can do this.
• 52:06
  Up to just want to get one more thought in and it's it's it's
• 52:09
  this like democracy doesn't doesn't end after you vote you
• 52:13
  like if her constituents see like the ridiculousness of of
• 52:20
  this whole sham they're able to write her.
• 52:24
  They're able to to actually put campaigns against her and say
• 52:27
  like look you know stop it or we won't elect you or you know like
• 52:31
  she she lives in a Democrat stronghold that's where she
• 52:34
  runs. But at least make it make it
• 52:38
  clear to her that this is not going to be left unaccountable
• 52:44
  and she's she's going to behold to account when these things
• 52:47
  happen. So like we have a responsibility
• 52:50
  to exercise democracy every day in whatever way we can.
• 52:54
  Like for me, you know like I get I get up here and this is for
• 52:58
  for me more fun, right? I I have a regular job.
• 53:01
  I I go and do my Fiat mining and on my spare time, that's when I
• 53:06
  do my democracy. I write.
• 53:09
  I share my opinions. I orange built my Barber last
• 53:11
  night. So you know, like things like
• 53:13
  that, right? But but people need to exercise
• 53:16
  democracy every day of their life, not just on Election Day.
• 53:19
  And that means that you're writing letters.
• 53:21
  You're actually writing letters to the editor.
• 53:23
  Because that's the one things that politicians hate to behold
• 53:28
  to account on mediums, on traditional mediums like the the
• 53:32
  printed paper. It may not be where we hang out,
• 53:35
  but a lot of our voters do do hang out there.
• 53:38
  And so if you call her to account on those mediums where
• 53:42
  she cares where her traditional base of voters are, then that,
• 53:46
  you know, like that's part of exercising democracy.
• 53:49
  So yeah, that's, that's it. I'm more interested to hear from
• 53:53
  Sophie on this. Yeah, yeah.
• 53:54
  We're definitely going to let Sophie get get the floor here.
• 53:57
  But I mean, I think you said something very interesting.
• 53:59
  And then this is one of the one of the things I've learned early
• 54:02
  on on on Twitter in particular is like, sometimes the person,
• 54:07
  like somewhat sometimes the audience on Twitter is not
• 54:10
  necessarily the person you are arguing with.
• 54:13
  It's the people that are watching.
• 54:14
  And I think that's what we try to do here constantly.
• 54:16
  It's like, look, hey, we know that this stuff is insane and
• 54:20
  ludicrous, but there's people out there that don't understand
• 54:23
  where we're coming from and they might just overhear something
• 54:25
  and be like, wait, maybe that is rational.
• 54:27
  Maybe these guys aren't just crazy.
• 54:30
  What are we, financial terrorists?
• 54:31
  Money launderers, shadowy supercutters?
• 54:34
  Anyways? Anyways, let's give Sophie the
• 54:35
  floor 'cause this one's gonna. It would be a good one.
• 54:37
  I I think I already heard a little bit this morning.
• 54:39
  So selfie, the floor is yours. Man, you know the jokes right
• 54:44
  themselves. Because like Jaime mentioned,
• 54:47
  Liz Warren initially started her campaign and her whole political
• 54:52
  career by being against the big banks, against corporations.
• 54:57
  And it's just so ironic how now she's she's like buddy, buddy
• 55:01
  with Jamie Dimon. And just like how the the irony
• 55:06
  of the whole situation exists the the propaganda or the sorry,
• 55:10
  not the propaganda, but like the commercial for Bitcoin, this.
• 55:14
  This, like why you should buy Bitcoin is writing itself too.
• 55:18
  If you notice in that video with Jamie Dimon, he's he's listing
• 55:22
  all of the reasons why Bitcoin is superior to Fiat.
• 55:27
  It's like you can make instantaneous transactions.
• 55:30
  You can transact anonymously, although although not fully
• 55:34
  anonymously. I feel like you could take every
• 55:37
  single thing that they say is wrong about Bitcoin and turn it
• 55:42
  into a commercial as to why you should buy Bitcoin, which by the
• 55:46
  way, just hit 44,000. So that's a cause for
• 55:49
  celebration. Let's go.
• 55:51
  Yeah, it's almost like everything Jamie was saying.
• 55:53
  We're like, here. We're like, hey, this is a
• 55:55
  feature, not a bug. Like, what are you talking
• 55:56
  about? Wait, this is a good?
• 55:58
  Thing. What are you talking about?
• 56:01
  And they think that we're stupid enough to be like, Oh yeah,
• 56:04
  you're right. Having self.
• 56:06
  I'm not smart enough to have self custody.
• 56:08
  What? That would be so inconvenient to
• 56:10
  my life. Why would I want self custody?
• 56:12
  Why would I want number go up technology as the the source of
• 56:17
  my hard money? What?
• 56:19
  You know what? You're right.
• 56:20
  I'm just going to keep getting screwed by Fiat because it just
• 56:24
  feels so good to pay $200 for a week's worth of groceries and,
• 56:32
  you know, live my life in continuous servitude to the
• 56:38
  corporation and to the big government.
• 56:41
  Yeah, absolutely insane. This is where we are anyways.
• 56:43
  Anyways, in the in the the interest of time, I want to give
• 56:47
  Jaime the floor. So let's get into the culture
• 56:49
  today, because I really think you guys are going to enjoy this
• 56:52
  conversation. The Daily Culture.
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• 57:21
  Let's go. All right.
• 57:22
  Jaime, as you mentioned, you are an El Salvadorian.
• 57:27
  You've been on the ground, you've been watching what's
• 57:30
  going on in El Salvador, You've been a constant journalist.
• 57:33
  You've been hitting me in the DMS, making sure that we're
• 57:35
  factually correct. So before we get into the topic
• 57:39
  that that I know you wanted to talk about the recent
• 57:42
  advancements of what's going on in Argentina.
• 57:44
  I think since you haven't been on the show, I, I I just would
• 57:47
  love to start with what is your general thoughts of Bitcoin in
• 57:52
  El Salvador and what's going on in El Salvador as someone that's
• 57:55
  family has came there? Because you know, people always
• 57:58
  say oh you guys don't know what you're talking about.
• 57:59
  We're like, dude, we're just listening to people that are
• 58:01
  Salvadorians that are telling us they enjoy what's going on, that
• 58:04
  are seeing the improvement of the country.
• 58:06
  So let's just start there and then we can parallel this into
• 58:09
  what possibly is going on in Argentina.
• 58:13
  For sure. I mean, you know, like, you
• 58:15
  know, I've written numerous, I think I'm, I'm up to 12 articles
• 58:19
  on Bitcoin Magazine now on the topic of El Salvador.
• 58:23
  And one of the reasons why it started doing that was because I
• 58:28
  saw so many people just like inaccurately telling the story
• 58:36
  of El Salvador either pro whatever was going on or
• 58:41
  against. And in in a lot of times it it
• 58:45
  it was, maybe it was Salvadorians, but most of the
• 58:49
  time it was, it wasn't. And and I just felt that it was
• 58:52
  important to like, you know, get my perspective up there.
• 58:57
  A perspective that that is closer to the ground, a
• 59:00
  perspective that you know that is shared by a lot of
• 59:04
  Salvadorans who are living outside of El Salvador, which is
• 59:07
  we left as a result of two major events.
• 59:11
  One was the Civil war in the 70s and 80s, which was essentially A
• 59:18
  proxy war between the Soviet Union and the USA, the Cold War,
• 59:25
  and then the other one when the peace agreements were signed
• 59:28
  between the two parties. At war was the influx of crime
• 59:35
  into the country and a country with that was trying to rebuild
• 59:39
  itself, but instead of rebuilding itself actually ended
• 59:44
  up in in more shape so. So I think what has happened in
• 59:50
  El Salvador has been over the last really two years, but it's
• 59:55
  been kind of like I would say seven years in the making has
• 1:00:00
  been a transformation, A transformation that I'll be
• 1:00:04
  completely honest with everybody here, I don't think would have
• 1:00:08
  been possible in my lifetime. I thought maybe El Salvador
• 1:00:12
  would be a great country to visit, perhaps even live far
• 1:00:17
  into the future. It is a beautiful country.
• 1:00:20
  It is full of amazing people. But the way that it was, it was
• 1:00:26
  unlivable for most Salvadorans who wanted to keep their family
• 1:00:30
  safe and for a lot of them, the seven million that already live
• 1:00:34
  there, they had to cope with a lot of pain, criminality and
• 1:00:40
  just a day-to-day corruption and and just shitty situation that
• 1:00:45
  most people found themselves in. What has happened is that we got
• 1:00:53
  people that were tired of the situation and they said we
• 1:00:58
  either need to change it now or will forever regret this
• 1:01:04
  opportunity. And the opportunity came when
• 1:01:09
  not just naive Bukele, but a group of young leaders, and some
• 1:01:13
  of them old with experience, saw a window for doing things
• 1:01:19
  differently. And part of that meant marketing
• 1:01:23
  the country differently. It meant bringing in a new
• 1:01:29
  economic regime which was based on freedom rather than
• 1:01:35
  oppression. And that's where Bitcoin is
• 1:01:37
  important. But it also meant you don't have
• 1:01:41
  any of these freedoms. You don't have individual
• 1:01:43
  freedoms, financial freedoms, if you don't secures people's
• 1:01:48
  well-being, just existing. And that's where the security
• 1:01:53
  comes in. And I saw so many people that
• 1:01:56
  actually admire, like just get it absolutely wrong, especially
• 1:02:02
  human rights organizations. I remember being a young guy
• 1:02:06
  working for, and I won't name names, but like, you know what I
• 1:02:11
  thought were reputable human rights organizations, only to
• 1:02:16
  find out that they're the number one enablers of crime, not just
• 1:02:20
  in El Salvador, but all throughout Latin America and the
• 1:02:23
  developing world. And it became absolutely clear
• 1:02:29
  that that's what they do. And they're kind of like Neo
• 1:02:32
  economic Hitmans when when a lot of the security implementation
• 1:02:39
  policy started to to happen in El Salvador.
• 1:02:43
  But essentially what we see is that although Bitcoin isn't the
• 1:02:49
  one thing that's moving at all, it is absolutely an essential
• 1:02:53
  thing that's moving at the country in a in a very
• 1:02:57
  progressive way. And when I say progressive, I
• 1:03:00
  mean it in the literal term not as a euphemism for, you know,
• 1:03:04
  Uber liberals. So it is moving in a progressive
• 1:03:08
  way where people are now able to start their own business and
• 1:03:15
  grow their own business and produce economic activity in the
• 1:03:19
  country because they're not afraid to be shaken down by one
• 1:03:24
  of these illicit organizations. Now just to tie back to
• 1:03:30
  Elizabeth Warren and what not, these solicit organizations in
• 1:03:34
  El Salvador hate Bitcoin. They were all transacting and
• 1:03:38
  doing the shakedown in USD. So they don't like Bitcoin.
• 1:03:43
  They they don't know how it works.
• 1:03:45
  They they just rather shake people down and and you know
• 1:03:48
  what, you can extort people when you when you really, you know,
• 1:03:52
  have no way to physically rip their money away from them.
• 1:03:57
  So you know it's it's been good that way.
• 1:03:59
  So So what we have here is you know and and that's when I
• 1:04:05
  basically started writing and and and telling the story and
• 1:04:09
  I've been to El Salvador and on the ground for extended periods
• 1:04:15
  of time not as a Bitcoin but just a regular Salvadorian
• 1:04:19
  observing just being a dude there just seeing how things are
• 1:04:25
  developing and and and it's quite remarkable I would say and
• 1:04:30
  a lot of people use different measures for what successful
• 1:04:35
  adoption looks like. But I would say that the
• 1:04:39
  awareness is 100% and I think Stacy and Max have said this
• 1:04:43
  before awareness is 100% in El Salvador.
• 1:04:46
  You can't go anywhere and and and ask a Salvadorian about
• 1:04:52
  Bitcoin and and they don't know about it.
• 1:04:55
  They absolutely know about it. In fact when I was there last
• 1:04:59
  time I forgot my wallet and I didn't have any cash but I did
• 1:05:04
  have my phone and I had bought some fruit and the I told the
• 1:05:12
  lady, I'm sorry, I don't I don't have any cash but I do have some
• 1:05:17
  Bitcoin. Will you accept it And she's
• 1:05:19
  like, Oh no, I I I won't. She said I'm like Oh well, that
• 1:05:23
  I'm I'm afraid I can't take this stuff.
• 1:05:25
  I said then I'll I'll you know. And then she thought about it
• 1:05:30
  twice and she's like OK and then she pulled out her wallet and
• 1:05:35
  and you know took it and and then I said, I said to her, you,
• 1:05:38
  you know if you're willing to take this like I'll actually
• 1:05:43
  tell my Bitcoiner friends to come to your fruit stand in in
• 1:05:46
  Antiochus Catlan. She's a very nice lady.
• 1:05:49
  She also sells flowers which are amazing and and and they'll come
• 1:05:53
  here, you will be their fruit stand and you'll get more
• 1:05:56
  business and it's just like really it's like absolutely.
• 1:06:00
  But you have to be willing to take it like don't like, don't
• 1:06:03
  say that you prefer cash or debit or credit just like take,
• 1:06:09
  you know, like it's like preferred and she's like I will
• 1:06:12
  do that, you know. And so those little moments are
• 1:06:16
  really important. And then, you know, you can see
• 1:06:20
  that like even if people don't want to take it at first, they
• 1:06:23
  have the ability and sometimes it's just lack of education.
• 1:06:27
  And this is where something that's happening in the in the
• 1:06:30
  country that I'm very passionate about and I was actually just
• 1:06:33
  awarded a first full node outside of El Salvador in
• 1:06:37
  Canada. Is Bitcoin my first Bitcoin?
• 1:06:40
  Their educational curriculum is just amazing.
• 1:06:44
  I taught it once and I graduated one class here in Canada and
• 1:06:49
  we're in line to teach it again. And people just love it because
• 1:06:52
  it's easy. It gives you the history of
• 1:06:55
  money and when people come out of it they they understand
• 1:06:59
  Bitcoin, they you know they're not exposed to scams and they're
• 1:07:04
  actually more resistant to scams because you know I it's it's a
• 1:07:07
  non partisan non, it's very objective and we just empower
• 1:07:12
  people with the tools to make their own decisions, right.
• 1:07:16
  And you know, at some point I said to them, you know, like
• 1:07:20
  after you've taken this course which was developed in El
• 1:07:23
  Salvador, you know, you decide if you want to play in a casino,
• 1:07:28
  you know, with shit coins. And 100% of the people said
• 1:07:32
  absolutely. You know, we, we see the
• 1:07:34
  difference. We see the benefit of a
• 1:07:36
  decentralized network and so that that same curriculum is
• 1:07:40
  being taught from the ground up not a government program to to a
• 1:07:48
  lot of children and youth in in the country.
• 1:07:51
  Now the the the Salvadoran government has actually seen how
• 1:07:54
  successful that is and it is incorporating aspects of that
• 1:07:59
  curriculum being taught by being implemented Bitcoin as well as
• 1:08:03
  Bitcoin beach into into the financial literacy module of of
• 1:08:08
  the educational system, which is great.
• 1:08:11
  I mean you and so you see things are moving, adoption is going
• 1:08:13
  great. But it's important to to hear
• 1:08:16
  from Salvadorans tell the story not from Salvadorans activists,
• 1:08:20
  which there's a lot of them who claim that they know Bitcoin and
• 1:08:24
  they will say negative things about it.
• 1:08:26
  But the app for the average person is has had a very, very
• 1:08:29
  positive impact on their life. Even if it's just indirectly,
• 1:08:34
  even if they're not transacting with it every day, they are
• 1:08:38
  benefiting from the secondary effects of of a bit conized
• 1:08:44
  economy. Love it, Jaime.
• 1:08:47
  Yeah, I've had, you know, anecdotally, I've had a few
• 1:08:49
  conversations with people that have left El Salvador.
• 1:08:52
  You know, their families are from there.
• 1:08:54
  And I always ask him kind of, you know, just just for my own
• 1:08:57
  personal, like, wondering curiosity.
• 1:09:00
  I'm like, what do you think about the Kelly?
• 1:09:01
  They're like, I love it. I can't wait to go back.
• 1:09:03
  And then when I first heard it, I was like, wow, that's
• 1:09:05
  incredible. Anyways, let's pivot this
• 1:09:07
  conversation to what we're seeing in Argentina.
• 1:09:12
  I think you were telling me before the show that there is
• 1:09:14
  maybe some very interesting parallels going on down there.
• 1:09:18
  Maybe there's things to be watching.
• 1:09:19
  Maybe we need to kind of hold our tongue and see how this
• 1:09:22
  plays out. So you wrote this article here
• 1:09:24
  on Bitcoin Magazine. It's titled Malay's Presidency
• 1:09:28
  Implications for Argentina, El Salvador and Bitcoin Adoption.
• 1:09:31
  So what? What's your angle here, Jaime?
• 1:09:34
  What are you seeing and and what are your thoughts on this whole
• 1:09:36
  thing going on? For sure.
• 1:09:38
  Well I mean this is something that Argentinians wanted
• 1:09:41
  overwhelmingly actually the the Malay mandate is is quite strong
• 1:09:46
  and and and although he doesn't have full support or an
• 1:09:52
  overwhelming support in the Senate and the the Congress are
• 1:09:57
  just now has a bicameral structure for for their
• 1:10:03
  assemblies they have a lot of support.
• 1:10:09
  Here's where kind of things differ from El Salvador.
• 1:10:13
  When Buchelli came in, he he had a a good win, but he didn't have
• 1:10:18
  any allies in Congress. And so he had to wait almost two
• 1:10:23
  years of constant opposition from Congress to actually pass
• 1:10:28
  laws for when he got his party elected.
• 1:10:31
  And they have a three quarters majority.
• 1:10:34
  That three quarter majority was essential in passing the Bitcoin
• 1:10:37
  law because if you don't have that three quarter majority then
• 1:10:41
  Bitcoin has become legal tender and it's a different story about
• 1:10:44
  El Salvador. In Argentina, Miley has some
• 1:10:52
  support from his party and he has also has an ally party.
• 1:10:56
  But the paranist party, the left wing kind of like socialist
• 1:11:01
  Social Democrats they're still quite strong and Miley didn't do
• 1:11:06
  this all on his own. He actually had to make some
• 1:11:10
  sort of you know deals in coalition and alliances with pro
• 1:11:16
  which is a right wing party. It was the the party of Macri,
• 1:11:22
  the former president the before the Kirchner and Fernandez the
• 1:11:28
  former president. And he was unable to do a lot of
• 1:11:32
  things and and and he was kind of like marred with a little bit
• 1:11:36
  of corruption and you know it's the regular stuff that happens
• 1:11:41
  in Latin America. My worry here is that the
• 1:11:45
  compromises that were struck in order to build this coalition to
• 1:11:49
  elect Miley, at some point he may have to pay back those
• 1:11:54
  favors. Whereas when we compare the
• 1:11:58
  situation in El Salvador where Buchelli did not have to
• 1:12:04
  compromise and actually absolutely promised nothing to
• 1:12:10
  any of the allies, he was not really, he has not really
• 1:12:16
  deviated from his vision and so. So then this is kind of where my
• 1:12:21
  cautiousness for Malay is, is like what?
• 1:12:25
  Like what is the favors? What are the favors, right?
• 1:12:28
  And let's not forget that he was not elected as a bitcoiner.
• 1:12:32
  He is pro and he understands Bitcoin to a degree, but I don't
• 1:12:39
  think he fully grasped what this is.
• 1:12:42
  He's not Austrian economist. And from that sense I think he
• 1:12:45
  understands the decentralization of money, the the separation of
• 1:12:49
  state and money. And so there's a lot of good
• 1:12:53
  things around that. And so, you know, my caution in
• 1:12:57
  my article is like, let's just let Malay kind of handle things
• 1:13:03
  and and acknowledge that he may have a tougher road ahead than
• 1:13:07
  Mukele because he's had to make some compromises and he may
• 1:13:12
  actually have to owe some favors.
• 1:13:14
  Whether that translates into public policy and economic
• 1:13:17
  policy, we still have to see what happens.
• 1:13:21
  It's still early. He got sworn in 10 days ago, 10
• 1:13:25
  days into into a mandate We don't know.
• 1:13:28
  But and and and you know, I don't want to disrespect my
• 1:13:34
  hermanos Argentinos, you know, because I obviously I'm going to
• 1:13:39
  be in the same situation that that I found myself before where
• 1:13:42
  I felt I need to write about El Salvador.
• 1:13:44
  Otherwise other people are going to tell an inaccurate story.
• 1:13:49
  But I have done the research in Argentina as far as to, you
• 1:13:53
  know, just issue a cautionary tale.
• 1:13:56
  I know that my Argentinian friends are very hopeful and I I
• 1:14:01
  I wish them the very best. But the the the thing about it
• 1:14:05
  is that we we need to be patient.
• 1:14:08
  We need to see what happens and and absolutely wish for for
• 1:14:12
  everything but the, you know, absolutely the best for
• 1:14:17
  Argentina. One thing that does worry me is
• 1:14:19
  that Malea already made a trip down to to the US and some of
• 1:14:23
  the first folks that he met with are the entourage of Bill
• 1:14:26
  Clinton, and some of the, you know, Fiat maximalist Will have
• 1:14:31
  known and love Bill Clinton in particular.
• 1:14:33
  I have a particular soft spot in my heart for him because he was
• 1:14:39
  responsible for sending the MS13 and Barrio Dieciocho, the 18th
• 1:14:46
  St. gang to El Salvador. And that's fine if you have to
• 1:14:51
  deport illegals but at least let us know that they are criminals
• 1:14:57
  before they arrive to the country.
• 1:15:00
  And yeah, anyway I'm digressing there but you that's who Millay
• 1:15:04
  met with. And and so we'll we'll see we'll
• 1:15:08
  I nothing but the best and I hope that everything turns out
• 1:15:11
  for Argentina and I hope they follow in the Bitcoin standard.
• 1:15:14
  But that's kind of where my thoughts are and and yeah, open
• 1:15:19
  it up to you what you guys think about.
• 1:15:20
  Love it, Jaime. No, I Before I let Sophie jump
• 1:15:24
  in here, I I totally agree. One thing's for sure and I think
• 1:15:28
  you know on on just a a surface level, Malay's election to the
• 1:15:34
  Argentinian presidency just shows one thing's for sure is
• 1:15:37
  that there is hope in South America and they are trying and
• 1:15:41
  looking for new options and new ways of doing things.
• 1:15:44
  Now you know hopefully Argentina doesn't go down.
• 1:15:48
  I would say more of a negative path because I have a lot of
• 1:15:51
  friends that are Argentinians as well and I I wish them the best.
• 1:15:54
  It it's such a beautiful country that they have, they have so
• 1:15:58
  much going for them, but they have just been so economically
• 1:16:01
  stunted that it's just absolutely horrible how bad
• 1:16:05
  inflation has gotten, how bad the country has gotten and and
• 1:16:08
  the direction it was heading in. And like you said, you know, I
• 1:16:11
  think, I think a lot of his bitcoins are very black pilled,
• 1:16:14
  you know, and any hint, any, any sense of statism just like
• 1:16:19
  terrifies us. And we're so quick to just
• 1:16:21
  sacrifice people. Whereas I really love the, the
• 1:16:24
  sober take that you're like, hey, let's give him some time.
• 1:16:27
  He's only been in there 10 days. I know there's been some very
• 1:16:30
  bad negative press coming out since he's been elected and
• 1:16:33
  since he's been inaugurated. And some of us victims are like,
• 1:16:36
  oh man, no, like, don't go down the dark side.
• 1:16:39
  This is terrifying. So I I think only time will
• 1:16:43
  tell. And I mean, hey, you know
• 1:16:44
  Bukele, I think we were, I think a lot of people were saying the
• 1:16:46
  same thing about Bukele. 10 days in, you're just like, yeah, he's
• 1:16:49
  another politician. And yet, you know what?
• 1:16:51
  Too close to three years down the line, it seemed like Bukele
• 1:16:55
  has really been a visionary and has completely turned the
• 1:16:58
  country around. So I think only time will tell.
• 1:17:01
  Anyway, it's time to jump in, and then I'm going to let Sophie
• 1:17:02
  jump in. Yeah.
• 1:17:04
  No, I mean 100% and I and I think one key thing to to
• 1:17:11
  remember here with Argentina is that like you know at the turn
• 1:17:17
  of the of the 20th century they were like, you know in the early
• 1:17:21
  1900s they were an economic power the the different European
• 1:17:28
  diasporas that left Europe. They would either go to the US
• 1:17:34
  or Argentina or just just full of like potential economic
• 1:17:38
  potential lots of natural resources.
• 1:17:43
  The the the the oppression the economic oppression of Argentina
• 1:17:46
  has only benefited Westernized countries because they're
• 1:17:52
  they're full of like precious metals.
• 1:17:55
  They're full of rare metals. They're wheat, cattle, like
• 1:18:01
  they, they, I mean you name it wine, fruit food like there's
• 1:18:06
  tons of it and it's it's a beautiful country so many good
• 1:18:10
  friends that that are from that haven't not had the privilege to
• 1:18:14
  go there. But like you know the Patagonia,
• 1:18:16
  the pompous, you know Mara de Plata, Buenos Aires, Tierra del
• 1:18:22
  Fuego, the beautiful, beautiful areas that are tourist friendly
• 1:18:28
  which were depressed by by the economic instability of of
• 1:18:34
  years. And so I mean things good things
• 1:18:36
  must come to the Argentinians. But let's be frank about it.
• 1:18:42
  And it's like their economic oppression, their devaluation of
• 1:18:46
  their peso has only benefited the US, Britain and Europe.
• 1:18:53
  Because they can actually, if they if they devalue their their
• 1:18:58
  money so much, they can actually get their amazing resources for
• 1:19:04
  a lot cheaper. Yeah, I love it, 100% OK, as as
• 1:19:08
  the reigning Latina of simply Bitcoin, what's your thoughts on
• 1:19:11
  all this stuff? So I have a huge, huge soft spot
• 1:19:17
  in my heart for Argentina. I've always been fascinated by
• 1:19:20
  the history of Argentina and their passion, their
• 1:19:24
  contribution to the culture in in both music and movies.
• 1:19:30
  And I mean if you go and you see their architecture and you see
• 1:19:34
  their cities, it's just, it's stunning.
• 1:19:38
  So with respect to Javier Miley, I mean, it's I'm not going to
• 1:19:42
  be, I'm not going to lie to you, it's not looking great meeting
• 1:19:45
  with the Clintons. And I also heard he had signed
• 1:19:49
  with the Paris climate agreement and he also met up with
• 1:19:55
  Zielinski and like he's doing some some shady globalist moves
• 1:20:00
  there. But, you know, I I had never
• 1:20:02
  considered the angle that maybe he was paying back some debts
• 1:20:07
  politically. And the truth is that he didn't
• 1:20:10
  stand a chance to win in the beginning.
• 1:20:13
  And and I think it's a miracle actually that a libertarian won
• 1:20:17
  in Argentina. So it's not completely out of
• 1:20:21
  the realm of possibility that that is what's happening right
• 1:20:25
  now. But at the same time, you have
• 1:20:29
  to see, you know, how, how is he, how far are those debts
• 1:20:33
  going to go? How far do those payments go?
• 1:20:37
  And is he actually going to do the things that he promised?
• 1:20:41
  We already saw that he came out with a law about protesters.
• 1:20:47
  Like he's really cracking down and and being a little bit, I
• 1:20:50
  mean, some would say radical. But then again, people had the
• 1:20:54
  same type of criticism for Buchelle when he became
• 1:20:59
  president and when he took all of these gang members off of the
• 1:21:03
  streets. You know, and for better, for
• 1:21:04
  worse, people say that, you know, they deserve served a
• 1:21:07
  trial, whatever. Like it's made the country
• 1:21:09
  better. So I think we just need to wait.
• 1:21:12
  We need to see what is going on. We need to give him, you know,
• 1:21:16
  obviously more than 10 days. Usually the metric, at least
• 1:21:20
  here in the United States, it's 100 days.
• 1:21:22
  So let's just wait and see. I think it's also important that
• 1:21:27
  bitcoiners in like make themselves like a part of the
• 1:21:32
  process. I think he's open to it and and
• 1:21:36
  try to explain to him like the process of adopting Bitcoin in
• 1:21:41
  Argentina. I think that once they fix the
• 1:21:43
  base layer of society, other things will just fall into
• 1:21:47
  place. Because as Jaime was mentioning,
• 1:21:50
  they are very not just culturally rich city, but they
• 1:21:54
  have a lot of cattle, wines, beautiful land, beautiful
• 1:21:57
  architecture, tourism. And the only one that the, the,
• 1:22:02
  the inflation of their currency has benefited is Great Britain
• 1:22:06
  and the United States. So if they opt out and take the
• 1:22:10
  same approach, radical as it may be as El Salvador, I think that
• 1:22:18
  everything will be fine. So we just got to be patient and
• 1:22:21
  give it more than 10 days. Yeah, I couldn't agree more,
• 1:22:26
  Jaime. Last last message to the
• 1:22:29
  audience. What's the last thoughts you
• 1:22:30
  want to leave with people before we roll this one out?
• 1:22:32
  First and foremost, I really appreciate you coming on love,
• 1:22:36
  loved the perspective, but give a last last two sets for the
• 1:22:40
  audience out there. What do you want people to leave
• 1:22:44
  on on top of mine here tonight? Yeah, for sure.
• 1:22:47
  So listen up. I mean, you know I'm always pro
• 1:22:51
  El Salvador, it's a it's a beautiful country If you get a
• 1:22:56
  chance to go out there and visit it just you know be part of it,
• 1:23:02
  it's it's safe it's safe now and go and support what's going on.
• 1:23:10
  But also like, don't don't do like the the bitcoiner thing the
• 1:23:16
  whole time. Like of course you got to go and
• 1:23:18
  visit Chimbera at El Sante Bitcoin Beach and Mike Peterson
• 1:23:25
  running to Max and Stacy. But let go other places.
• 1:23:29
  Like I know we have some friends over in Berlin, which is
• 1:23:33
  actually a Salvadoran city near like where the geothermal plant
• 1:23:39
  is and they're doing their own circular economy there.
• 1:23:43
  But there's other places too where like you guys can like
• 1:23:46
  just hang out, meet people and try to orange pill them.
• 1:23:51
  Because even though, like they may know about Bitcoin, they may
• 1:23:54
  not have ever seen, you know, like or transacted with it.
• 1:23:59
  And so that's how it's going to happen.
• 1:24:00
  But but go there, enjoy the country.
• 1:24:02
  It's amazing, beautiful. I also want to give a quick
• 1:24:07
  shout out because I I I do live in Canada when I'm not in El
• 1:24:11
  Salvador. In this past weekend I was out
• 1:24:14
  with my friends in Calgary. They had the very first stab at
• 1:24:21
  a circular economy there. Ben Perrin also known as BTC
• 1:24:27
  Sessions organized a SAT Saturday market and and it was
• 1:24:32
  amazing. We had such a great time and so
• 1:24:36
  always support your local Bitcoin efforts as well.
• 1:24:41
  Yeah, go to El Salvador, go to other places and and and do the
• 1:24:46
  Bitcoin holidays. But like get involved in your
• 1:24:49
  local meet up and do what you can.
• 1:24:51
  You know, like create content help help your friends move
• 1:24:56
  their Ledger over to coal card or a compass or you know
• 1:25:01
  wherever. But that's Bitcoin only and and
• 1:25:05
  safer that that's your little contribution and and yeah,
• 1:25:09
  that's kind of my parting words. And thanks Sophie.
• 1:25:13
  Thanks Opti. And yeah, like we don't need
• 1:25:16
  Nico here like we got. We.
• 1:25:20
  Got Sophie. Appreciate Jaime.
• 1:25:24
  Yeah, someone, someone in the chat said.
• 1:25:26
  Man, Nico's looking so hot after going into the halving.
• 1:25:32
  Oh man. All right, Well, guys, go check
• 1:25:36
  out Jaime on Twitter. Jaime W Garcia and then of
• 1:25:39
  course go check out his articles on Bitcoin magazine that he's
• 1:25:42
  got a a plethora of writings I'm sure more coming really
• 1:25:46
  appreciate you coming on today's show Jaime let's let's bring you
• 1:25:50
  back on in a couple of months and you can give us an update on
• 1:25:53
  everything you're seeing. Love having you on bro and and
• 1:25:56
  appreciate you constantly hitting my DMS with stuff.
• 1:25:59
  It it keeps us on our toes. It makes sure that we are we're
• 1:26:02
  spreading the signal correctly cause guys you know we do our
• 1:26:06
  best here but we are really relying on you guys out there on
• 1:26:10
  the ground telling us what's going on.
• 1:26:12
  You know we we can only really see what's happening from our
• 1:26:15
  vantage points. Of course we're looking at the
• 1:26:17
  world through a Bitcoin lens and one thing for sure Bitcoin is
• 1:26:21
  winning. It is taking over.
• 1:26:23
  And this is all good for Bitcoin.
• 1:26:24
  Anyway, Sophie, thanks for coming on.
• 1:26:26
  We really appreciate you fitting in.
• 1:26:28
  Sophie will be on the show a lot more.
• 1:26:30
  You guys seem to like Sophie as a reoccurring guest, so she's
• 1:26:34
  coming on more. You guys like her hot, spicy
• 1:26:37
  Latina takes on everything. She's even more toxic than Nico
• 1:26:40
  and I are. So this is, she's the voice of
• 1:26:42
  the plebs now. All right.
• 1:26:44
  So really appreciate it. You you can you can log off and
• 1:26:47
  I know you're, I know you're you're incubating another human
• 1:26:50
  and this is probably a long day for you.
• 1:26:52
  So thank you. Have a good rest of your day.
• 1:26:54
  Yo, I'm dying all. Right.
• 1:26:58
  All right. Jaime, thanks for coming on
• 1:26:59
  today. We really appreciate it.
• 1:27:01
  Go check out him again on Twitter.
• 1:27:03
  Jaime W Garcia, really appreciate you coming on today,
• 1:27:06
  bro. Means everything.
• 1:27:07
  We will keep in contact. Come on soon.
• 1:27:10
  Till next time, brother. Cheers, man.
• 1:27:13
  All right, guys. You already know the deal.
• 1:27:15
  Like, subscribe, Share all that good stuff.
• 1:27:17
  Comment We are your number one source for the peaceful Bitcoin
• 1:27:21
  revolution. We cover news, memes, culture.
• 1:27:25
  The meme review will come back on Friday, but as you can see,
• 1:27:27
  it's already an hour and a half. So forgive me guys.
• 1:27:30
  The show's going longer. We're trying to pack in more
• 1:27:32
  sauce for you guys in our our daily live show.
• 1:27:36
  So just keep sending me memes Friday Show I I already got some
• 1:27:40
  of the memes, guys. It's going to be a lit meme
• 1:27:42
  review anyways. Have a good rest of your day.
• 1:27:45
  It is the holidays. It is the Christmas.
• 1:27:47
  Almost going into the Christmas. Go hang out with your friends,
• 1:27:49
  eat some good food, get outside all that good stuff.
• 1:27:52
  We love you. We'll see you tomorrow, Nico.
• 1:27:54
  We'll be back. We will be doing this till the
• 1:27:57
  end of time. All right guys, peace out.
• 1:27:59
  This is your boy Opti. Until next time, we are simply
• 1:28:02
  Bitcoin and this was the simply Bitcoin live show.
• 1:28:06
  Peace out guys.