Latest / Simply Bitcoin / Its Happening Again: Is Bitcoin About To EXPLODE?! | EP 1362

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Its Happening Again: Is Bitcoin About To EXPLODE?! | EP 1362 · Simply Bitcoin

• 0:00
  Tomorrow might be the day that changes everything for all the
• 0:03
  markets, and this is coming as the stars could be aligning for
• 0:08
  Bitcoin. Right now, Bitcoin is back above
• 0:11
  115 K and we just survived the massive $19 billion liquidation
• 0:16
  event as Bitcoin finally flipped green for October and then we
• 0:21
  can have more fed rate cuts coming faster than you think.
• 0:25
  I, I think the Fed rate cuts are like more than locked in at this
• 0:30
  point. We just, we don't know how much
• 0:32
  are coming. I know a lot of people, I think
• 0:35
  the kind of conservative view is 25 bips.
• 0:37
  A lot of people are saying 50 bits.
• 0:38
  We've, we've heard some crazy even 100 bit cuts, but we can
• 0:43
  almost guarantee that the rate cuts are coming.
• 0:46
  And I think for most people off most bit corners, they're always
• 0:49
  wondering like what's why do we care about the Fed rate cuts?
• 0:53
  It always boils down to 1 simple thing.
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  Cheaper money equals more liquidity.
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  And if they're trying to lower the rate cuts, then we all can
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  kind of bet that liquidity is on the horizon.
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  The big print money goes Burr, etcetera, etcetera, etcetera.
• 1:08
  And I think a lot of the stuff we're seeing right now is people
• 1:11
  waiting on the sidelines until the markets kind of figure their
• 1:14
  shenanigans out. It's still a little early, so
• 1:17
  figuring out where to invest their money.
• 1:19
  So people are sitting on the sidelines anyways.
• 1:21
  We'll get on into that. And of course, I'm here with
• 1:24
  Sophie. I don't even know when Niko is
• 1:25
  coming back yet. So it's Sophie and I for the
• 1:28
  foreseeable future. Coming back soon.
• 1:31
  Great, great. You're just.
• 1:33
  You're just going to have to tune in every day this week
• 1:36
  until to. See if he comes.
• 1:38
  No, until he comes back. He's definitely coming back this
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  week. I just I I can't guarantee
• 1:43
  exactly when this. RIP, RIP.
• 1:45
  All right guys, let me let's break some stuff down.
• 1:48
  So I'm not just going to cover the rate cuts cause of course
• 1:51
  it's almost a lock. And so this is happening
• 1:54
  tomorrow They are doing it's a 2 day kind of meet.
• 1:58
  They're going to meet tomorrow, Wednesday or tomorrow Tuesday
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  the 28th and then and we will get the official announcement on
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  Wednesday the 29th. That's most likely when Jerome
• 2:09
  Powell will speak. So they got two days to
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  deliberate about this. But I think we're we'll probably
• 2:14
  start seeing Bitcoin and other markets pricing a rate cut.
• 2:19
  I think we kind of saw this this weekend.
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  We did get a healthy pump back to it actually went up to 116,
• 2:25
  but we're roughly around 1:15 right now, so.
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  He's talking about the price. Everybody, it's over.
• 2:32
  Everybody close your ears, it's over.
• 2:34
  Honestly, I'm so apathetic at this point about the price.
• 2:38
  Like I really AM at this point just happy to be holding
• 2:44
  Bitcoin. I feel privileged to just be
• 2:47
  holding Bitcoin while everybody else's money is essentially
• 2:51
  going down the gutter as as soon as they no, I mean, it sucks,
• 2:56
  but it's true. Like everybody else who is
• 3:00
  holding cash, who's holding like anything in their bank accounts,
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  like get ready when they start printing this money, that money
• 3:08
  is going to be worth significantly less.
• 3:11
  And, you know, we're right now at 3% inflation, which is higher
• 3:15
  than the Fed's 2% goal here, which, you know, was inevitable
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  after they did the first rate cuts in September.
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  And now they're saying that not only are we going to get rate
• 3:26
  cuts at the end or in the middle of this week, but we're also
• 3:30
  going to get it again in November.
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  So everybody is kind of scrambling to either buy more
• 3:38
  Bitcoin or see where they hedge their bets and where they put
• 3:43
  their money. We've seen an all time high in
• 3:46
  gold, as you all know recently, even though that's also been
• 3:50
  kind of collapsing in front. Of yeah, it went down about like
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  8% the last couple of days. Because people need liquidity
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  because like that and that's the whole cycle, right?
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  They print money, it goes into hard assets, hard assets pump
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  and then people need immediate liquidity, which leads to the
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  cycle occurring again. And the quantitative easing
• 4:12
  we're seeing is happening like more and more frequently.
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  So how long until that frequent frequency ramps up to a
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  situation where you have hyperinflation, which we've seen
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  time and time again in countries like Lebanon and Venezuela and
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  you know, it's, it's, we are not immune to it.
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  America, USA, we, this is this is going to be a tricky time for
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  people. Well, we're actually.
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  We're literally at like Ground Zero here.
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  So if anything, I think Americans are going to have have
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  a rude surprise if if they aren't actually preparing
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  themselves because we are seeing some some interesting stuff
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  happen in the Middle East. And I this is totally different
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  tangent, but it does seem like there is some kind of deals
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  being made right now. There's a restructuring around
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  not just the monetary policy, but of course like foreign
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  policy. And I think what a lot of people
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  are missing is that this is fundamentally potentially moving
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  America away from being the center of the power here.
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  And it has a lot of Bitcoiners have been talking about for a
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  while. It is starting to look like we
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  are entering A multipolar world versus like the singular, you
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  know, the US being the the kind of leader of everything.
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  And I think a lot of people might get blindsided by this
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  because they aren't really positioning themselves.
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  And and this is what we always talk about.
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  This is why we're Bitcoiners, because hey, we may be early on
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  this, but this is where the world is heading.
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  The ones who are positioning themselves as we know are the
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  big institutions. You know, Bank of America is
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  accepting Bitcoin as collateral. So is JP Morgan Chase.
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  BlackRock has, you know, been making tons of money off of
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  their IBITTF and whales have been moving billions of dollars
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  into that asset. So I think that they see the
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  writing on the wall. I think that they are finally
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  capitulating to the inevitable scenario that we need to to be
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  moving into hard assets. And eventually, hopefully the
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  United States government realizes that, hey, we can't
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  just back the dollar with the money printer because we're
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  actually trying to end wars. We're trying to step back from
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  all of this global interference, interference that we've been
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  doing since post World War 2. And how do we do that?
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  How do we run the money printer without having to necessarily go
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  into all of these wars and conflicts and whatever you have
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  to have a money that is actually like something that is actually
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  backing up your money. And since that's not gold
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  anymore, lol, we don't know how much gold there is in Fort Knox.
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  We need something different. We need Bitcoin.
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  We need a different hard asset that actually sustains the
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  United States economy so that we can get out of this rat race
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  cycle of printing and debasing everybody's currency.
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  Bars bars, OK, let's let's get into the recent news and I am
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  going to bring up Bitcoin in this because I I am also seeing
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  not only did we pump to one 15116, but again we we got back
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  to a green month. I don't know if you guys looked
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  at the monthly chart. It's pretty brutal, right?
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  It was it looks it looks pretty atrocious, but hey, it's a
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  positive October. I mean, it might not be the best
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  October, but at least we flipped green.
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  There's still a couple of days left.
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  Anyways, I'm over here on Reuters, of course, and it goes
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  Fed poised to cut rates this week with more easing likely on
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  tap. And that's probably the biggest
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  signal here. Remember, we've been telling you
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  guys, they've been telegraphing this for weeks now that
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  quantitative tightening is over, which really shows, hey, if
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  quantitative tightening's over, then quantitative easing's on.
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  What's that mean? It means they're going to flood
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  the system with more dollars, figure out a way to add
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  liquidity. I don't know if you guys have
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  been still watching what's going on in the repo markets, what's
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  going on in regional banks, but liquidity is drying up right
• 8:27
  now. And This is why we're most
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  likely going to see I, I was, I'm going to argue we're going
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  to see an aggressive rate cut announced on Wednesday and then
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  we'll see what happens further. But we, we are starting to see
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  that there is some cracks in the system and they're going to do
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  whatever they can to paper over it, literally paper over it.
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  So let me read a little more of this and then I'll I'll go into
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  what I'm seeing in in the Bitcoin price and Bitcoin chart.
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  So the Fed is expected to cut rates by .25% or 25 BPS to
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  prevent labor market slowdown. Milder inflation reduces tariff
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  driven price pressure concerns and face Fed faces internal
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  split political pressure on rate decisions.
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  So there's the, you know, basics.
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  TLDR And actually I wasn't really gonna talk about this,
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  but Sophie was making a pretty good case about how the whole
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  government shutdown is affecting all of this.
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  Do you want to get into that? Because I, I was like, it's it's
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  really like not a big deal. I'm honestly kind of happy that
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  it shut down. Like what are they doing
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  anyways? This this is kind of a good
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  thing I. Mean look, if you're a
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  bitcoiner, of course you're happy that this is happening
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  because we're finally in a way cutting our spending in a way
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  we're not paying for non essential government workers and
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  we are realizing that the government functions just fine
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  without non essential government workers.
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  But what that means, that doesn't mean that we're not
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  paying them. That doesn't mean that, you
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  know, just because they're not showing up to work that they've
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  been suddenly fired. So on top of the fact that we
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  are short on liquidity, we also have to pay for all of these
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  workers who aren't doing anything at the moment because
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  they're not fired. We also have to sustain and at
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  some point pay back the employees who are working, who
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  are essential workers. And so we are going on, you
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  know, what might be the longest government shutdown in America's
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  history. And like that in the middle of a
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  tight liquidity market is a recipe for multiple rate cuts,
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  lots of money printing. And we don't, we just, we
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  haven't been here before. We don't know how this is going
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  to affect markets. We don't know how this is going
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  to affect inflation. We don't know how, you know,
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  we're going to get out of this. Again, I really do feel that
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  this is going to be the wake up call for the US, U.S. government
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  to say, hey, we need to start backing our money with hard
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  assets again. We need to reverse back to 1971
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  because this is not working. People now have decentralized
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  access to information. They don't want to go to war.
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  We can't just fool people anymore.
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  We can't just hide where it is that we're spending money and,
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  you know, say that our money has this arbitrary value on a global
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  scale. I mean, This is why bricks was
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  brought to the table. This is why other powerful
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  countries in the world are trying to go away from the
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  dollar and back their currency up, a new currency with gold and
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  oil. But I think that even they're
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  realizing that it's not exactly the, you know, the best path.
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  And that's why China is opening itself potentially to Bitcoin.
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  Russia is potentially opening itself to Bitcoin.
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  I, I just like the, all of the, there's a lot of things that are
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  coming together that are basically calling for Bitcoin to
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  be the global reserve asset of, for all of us for of the world.
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  I think we still have a little ways to go before we get there,
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  but. Yeah, we have.
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  We have a little ways, but like it's, it's gradually then
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  suddenly, right. I mean, how fast can the can our
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  economy deteriorate to the point where we have to do some serious
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  damage control or we lose our status as the number one economy
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  in the world? Remember that the US doesn't
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  make anything. We are the number one consumer
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  of the world, but we don't actually make many products.
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  We have invented the best, you know, technology in the world,
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  but we don't make it here in at home.
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  And so how do we how do we keep our economy afloat?
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  How do we do it? It used to be by, you know,
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  yeah, it used to be by selling dollars to countries where their
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  currency is worse than ours. But what happens when our
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  currency starts to become just as bad as theirs?
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  You have to, you have to shift to something else.
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  You have to pivot. And it's, you know, I don't,
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  I'm, I'm at a loss for words because I don't know if, if the
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  government will pivot before they allow things to become
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  worse than they are. OK, that, that makes some sense
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  to me. All right, So guys on the Fed
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  rate cuts, they're, they're potentially this kind of what
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  everyone is wondering that they might lower the federal fund
• 13:52
  rates to a range of 3.75% to 4%. Obviously we have no clue.
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  They still got to deliberate. I know people are saying that
• 13:59
  they still probably won't cut rates because of the government
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  shutdown. Every everyone else is kind of
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  expecting and I think the markets are pricing in another
• 14:08
  rate cut. So it's going to be interesting
• 14:10
  to see what happens in a couple of days, whether this is going
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  to actually happen, whether there's going to be some more
• 14:15
  volatility in the markets, you know, whether Bitcoin can
• 14:17
  maintain this 150K kind of market structure.
• 14:22
  But going a little further, I really like this TFTC tweet
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  here. And I think this is kind of like
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  the long term view that most bitcoiners take.
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  And he goes, when the Fed cuts this week or if the Fed cuts
• 14:32
  this week, short, short term yields will fall.
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  If long term yields don't, that's the bond market saying we
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  don't believe you can escape this debt without inflation and
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  a Bitcoin gets it. Obviously Bitcoin responded
• 14:44
  really well over the weekend. And then going a little further,
• 14:48
  just kind of, you know, keep keeping you guys up to date on
• 14:51
  what actually happened over the weekend.
• 14:53
  I got this headline from the block and it goes Bitcoin surges
• 14:57
  above 115 K when millions in short positions been liquidated.
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  I don't know if you guys saw on Twitter, but the, the shorts,
• 15:06
  the, the short liquidation heat map is looking crazy right now
• 15:09
  and everyone is just kind of looking at it and like, man,
• 15:13
  let's get these, let's, let's get all these leverage gone.
• 15:16
  And, and they're like, it's signaling that there's probably
• 15:19
  going to be a lot of volatility in the market.
• 15:22
  So as prices recovered, nearly $350 million worth of short
• 15:27
  positions were liquidated in the past day.
• 15:30
  And they're expecting a year end Santa rally guys, maybe, maybe
• 15:34
  we'll have a good Christmas here.
• 15:36
  Maybe, you know, October was kind of weak actually here.
• 15:39
  I'll, I'll pull up the, the monthly chart cause it is I, I
• 15:44
  was actually having a good laugh about just what it looked like.
• 15:47
  It's, it's pretty brutal here. So here we go.
• 15:50
  Oh, actually, oh, wait, sorry, this is on the day it wasn't on
• 15:52
  the month. Here we go Look at this, look at
• 15:55
  this monthly chart here guys, this is, this is absolutely
• 15:58
  nuts. So here I'll zoom out.
• 15:59
  You can see it, you know, we're still well above the 50 month
• 16:04
  moving average, but this this monthly chart is just kind of
• 16:08
  hilarious. So we open the month at 114,116.
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  We had a low of 113 or 103 K. We had a high of 126 K and we're
• 16:22
  currently at 100 and 15594. Just a crazy volatility on the
• 16:28
  monthly chart. You know, hey, it's been fun.
• 16:30
  Has it not been fun guys? Are you not entertained over
• 16:33
  here anyways going a little further, this is probably the I
• 16:38
  I saw this one and it made me feel a lot more bullish here so
• 16:43
  Bitcoin archive tweeted this morning it goes just in Bitcoin
• 16:46
  reaches short term holder holder cost basis of 114,000 first time
• 16:52
  since Trump's tariff comments and the $19 billion crypto
• 16:56
  crash. The last time that short term
• 16:58
  holder MBRV reclaim ended the spring sell off in May, as you
• 17:03
  can see here, the last time we reclaimed this, we we got some
• 17:08
  action in the market. So if history does repeat
• 17:10
  itself, it looks like we might be back in on play for a a
• 17:17
  bullish Q4. And then just some, you know, an
• 17:20
  interesting little hot headline and obviously no one knows
• 17:23
  anything but standard charter. They've been they've been coming
• 17:27
  out super bullish and that they did the infamous Bitcoin is
• 17:30
  never going below 100K again. So I don't know if we can really
• 17:35
  hold our hat on that, but they are essentially saying it it
• 17:37
  it's probably going to begin because of the Fed rate cut.
• 17:42
  So if this is what we're seeing, I think all of the crazy
• 17:48
  volatility we saw in October, it might be finally behind us and
• 17:53
  and the October returns right now I believe are like 1.4,
• 17:57
  almost 1.5. So let me pull that up real
• 18:00
  quick just to, you know, be completely fact checked here.
• 18:04
  If my Internet works, it's kind of lagging on Here we go.
• 18:09
  Actually, it's not even working for me.
• 18:12
  Oh, here we go. OK, so as of now.
• 18:16
  Oh, it's even worse than I saw this morning.
• 18:18
  Perfect. So yeah, so as of now, guys,
• 18:24
  we're barely green on October. We're up a a measly .86%.
• 18:31
  Yeah, October has been pretty brilliant.
• 18:33
  There's still a couple days left.
• 18:34
  You know, I keep getting reminded of that one meme of the
• 18:37
  kid playing football and it's like they had me in the first
• 18:40
  half. But we finished strong.
• 18:42
  Still a couple days left. Maybe we see some fireworks to
• 18:45
  wrap up this month, but I think I think Q4 is still in play with
• 18:50
  everything kind of going on in the world right now.
• 18:53
  All, like I said in the beginning, all the stars are
• 18:55
  aligning perfectly to see Bitcoin run.
• 18:58
  Everyone's making crazy predictions for the end of the
• 19:00
  year. I know we've been beaten down
• 19:02
  all year. It's basically been a stable
• 19:04
  coin. We've been here for over 10
• 19:06
  months. Basically.
• 19:08
  The price hasn't moved. It's moved 1%, you know,
• 19:11
  confirmed 1%, but we've had a lot of volatility in the
• 19:16
  markets. It's gone up to 126.
• 19:19
  It's gone down to one O 3 at least.
• 19:21
  It's been above 100K for over hundreds of days.
• 19:25
  I think it's 120, maybe 130 days.
• 19:27
  So the consolidation is looking really strong.
• 19:30
  The fact that we're able to reclaim and kind of hold above
• 19:33
  100K throughout all of this madness, I think it is starting
• 19:37
  to show that there is a lot of strength in the Bitcoin market.
• 19:41
  Obviously, what do we know? We're just looking at the same
• 19:43
  stuff you guys are looking. So we're all praying for the
• 19:47
  Santa rally here, but I think I think things are working in our
• 19:51
  favor right now. I know there's been a lot of
• 19:53
  craziness and you know, a new Trump tweets going to nuke the
• 19:56
  market. Who knows if if he flip flops
• 19:59
  and all of the crazy stuff he's been saying one week, you know,
• 20:02
  trade wars off, the next week it's on, the next week it's off.
• 20:06
  And the markets are just super volatile based on tweets right
• 20:09
  now. This is the market we live in.
• 20:10
  But this weekend they shook hands and took a picture.
• 20:15
  So it means absolutely nothing. But you know, to the speculative
• 20:22
  people like who you know believe in proof of stake, it's, it's
• 20:26
  something I mean obviously like the market reacted in some type
• 20:30
  of way. Yeah, I mean, I that's, I think
• 20:32
  that's the main question here is what is the Bitcoin price
• 20:36
  telling us right now? It did respond 115K or actually
• 20:41
  it went up to like 116. I saw so many in the chat say
• 20:43
  117. I I didn't catch that this
• 20:45
  morning. But if the market or at least a
• 20:49
  Bitcoin price and, and the reason we focus so much on what
• 20:53
  happens in the Bitcoin price is not just because, you know,
• 20:56
  Lambeau and moon, but Bitcoin is the most liquid market and
• 21:00
  Bitcoin usually respond before every other market makes their
• 21:03
  move. Excuse me.
• 21:04
  And so anytime Bitcoin dips again, it's the most saleable
• 21:08
  liquid market in the world, trading 24/7 open every single
• 21:12
  day of the year here. It'll usually have a quicker
• 21:15
  kind of response to what people are seeing in the markets and
• 21:19
  then it'll usually respond better.
• 21:21
  And so if we're seeing the Bitcoin price respond very
• 21:23
  healthily over the weekend and we finally got a Sunday pump
• 21:26
  back in the books, guys, it it feels good to see a pump on
• 21:29
  Sunday. I'm glad we didn't see a huge
• 21:32
  dump on Monday because usually, at least in the old days, you'd
• 21:35
  see it pump over the weekend. When Wall Street kind of checked
• 21:38
  out, it would pump all weekend and then Monday would come in
• 21:40
  and when they get in the office, it would dump on him.
• 21:43
  And it used to just, it used to be hilarious.
• 21:45
  Now, now we're just like, can we pump, please?
• 21:48
  Can we just get a pump in? So the real question I'll I'll
• 21:50
  like to ask you guys out there in the audience is do you think
• 21:54
  that Bitcoin is pricing in not only rate cuts, but, you know, a
• 21:58
  bullish end of the year? I think it is.
• 22:02
  Obviously, who knows what's actually driving the markets
• 22:04
  right now, but I think the bullishness we're seeing right
• 22:07
  now in the in the current price, I think is is it's starting to
• 22:11
  make me feel a little less, you know, anxious about what's going
• 22:15
  to happen end of year. I'm I'm I don't know if I want
• 22:18
  to say it, but you know, wait, wait, since you guys got rid of
• 22:23
  mean Fridays, I thought you said the price has gone downhill.
• 22:28
  But hey, you know, I love the haters.
• 22:29
  Shout out to the haters. Love to see it, love to see it.
• 22:32
  We were literally just talking about you before we went on
• 22:35
  live. We're like wow man.
• 22:36
  We love our audience, even the haters.
• 22:38
  And today I even have a hater. This is great.
• 22:42
  I'd love to see it, love to see it.
• 22:45
  All right guys, so I got AI got, you know, good stuff here.
• 22:48
  Well, first Eric Trump, I know you guys may not like him, but
• 22:53
  he just went on the coffee hour podcast, which is a huge
• 22:56
  podcast, huge mainstream podcast, just getting extremely
• 23:00
  bullish and continuing to double down on the idea of nation
• 23:04
  states buying Bitcoin. And I'll show you a thumbnail.
• 23:07
  You know it says like 1,000,000 Bitcoin dude, everyone's
• 23:10
  catching on to our grift here, Sophie, everyone's catching on
• 23:13
  to the thumbnail game over here. We're we're not alone anymore.
• 23:17
  You. Know what some call it click
• 23:19
  bait. I call it manifestation.
• 23:22
  Okay, all right. I'm just, I'm just, I'm just
• 23:25
  ready for the fuck. Sorry for the price of.
• 23:29
  Yeah, soon and. And you know, to our defense,
• 23:34
  there's nothing really happening in the news.
• 23:36
  So we got to do what we can to keep you guys watching.
• 23:40
  I'm sorry, at least to hang out in the in the live chat.
• 23:44
  Yeah, I mean, hey, look, this is this is where we are in the
• 23:47
  story. Bitcoin price is a stable coin.
• 23:50
  You know, nothing really going on in the world too much.
• 23:53
  We're seeing, we're seeing some life back in the price.
• 23:56
  We could call it the calm before the storm.
• 23:59
  Yeah, I love the. Framing, I hope.
• 24:01
  Love the framing. I'm yeah, I'm just as tired as
• 24:06
  you are. And then for the news, we
• 24:09
  actually got some interesting news coming up out about the
• 24:13
  Mount Mount Gox repayments. If you're a Mount Gox OG, not
• 24:20
  really good news for you, but from, you know, a price
• 24:24
  perspective of of a view of what are these Mountain Gox kind of,
• 24:30
  you know, people that are getting repayments going to do
• 24:32
  with that coin. It might actually be kind of
• 24:34
  bullish for everyone out there. And then in the news or the
• 24:36
  culture to wrap up the show, I'm, I'm going to go back to a
• 24:41
  tried intrude, you know, Bitcoin per share, because I was talking
• 24:44
  to my young cousin the other night.
• 24:47
  She's like 1314. And there was something I really
• 24:50
  wanted to tell her. I sent her a little Bitcoin.
• 24:53
  I, I made her write down a wallet.
• 24:55
  And I really wanted to kind of emphasize to her that the amount
• 24:59
  of Bitcoin that she already holds is not that much, but
• 25:02
  like, it's still a lot when you compare it to the Bitcoin per
• 25:06
  share. And so I don't know if she's
• 25:07
  watching this, but this is what I wanted to tell her.
• 25:11
  So that's what we're going to do today.
• 25:13
  And then, of course, before I move on, I do want to remind you
• 25:16
  guys to smash the like button, comment on the show.
• 25:18
  What do you think about the show?
• 25:19
  And of course, hit the subscribe button.
• 25:21
  We drop the most content, the best Bitcoin content on YouTube,
• 25:24
  turn on the notifications so you know when we drop stuff.
• 25:27
  And of course, we go live Monday through Friday, roughly 12:30 PM
• 25:31
  every single day. And of course, we wouldn't be
• 25:34
  here without our partners. Of course, Bitcoin, well, the
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  best place to buy your Bitcoin because they never hold your
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  Bitcoin, they have never lost Bitcoin and they will never lose
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• 25:51
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• 26:05
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• 26:09
  that whatever crazy stuff happens in the market, you are
• 26:12
  unaffected. Yes, maybe the price will be
• 26:14
  volatile, but at least you know one Bitcoin equals one Bitcoin
• 26:18
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  chances to win a million sets. Anyways, guys, we will be right
• 26:45
  back after this commercial break.
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• 28:07
  All right guys, we are back. So the current Bitcoin price, at
• 28:09
  least according to Clark Moody's dashboard is 115,520, which is a
• 28:15
  -8.4% decline from all time high.
• 28:18
  And we have reclaimed $2.3 trillion market cap.
• 28:22
  You love to see it, love to see it and the the current block
• 28:26
  height. The only time that what really
• 28:27
  matters is 921,000 and 54. I repeat 921054.
• 28:34
  So TikTok next block bitcoins working exactly as designed.
• 28:38
  Anyways, I do want to just show you this first and foremost,
• 28:43
  what's going on. Oh, I didn't share it my bad
• 28:45
  guys. Oh wait, I did.
• 28:49
  Well, it's acting up on me. Here we go.
• 28:51
  So if you are unfamiliar with the Iced Coffee Hour podcast,
• 28:56
  these two guys are around my age, you know, they're in like
• 28:59
  their 30s and they're one of the bigger podcasts right now.
• 29:05
  And really a lot of the stuff they talk about is usually
• 29:08
  around kind of financial planning and how to like invest
• 29:11
  for your future and how to protect yourself and, you know,
• 29:15
  be a smart investor. It is called iced Coffee Hour,
• 29:18
  but let's let you do they're they're literally stealing our
• 29:21
  stuff on these thumbnails, $1 million Bitcoin prepare now Eric
• 29:25
  Trump shocking prediction for stock prices, Bitcoin and the US
• 29:30
  dollar. So it looks like a lot of people
• 29:34
  are a essentially starting to pick up on a lot of the trends
• 29:37
  that we have been talking about. I've been telling you guys
• 29:40
  basically all year that it looks like Bitcoin is starting to
• 29:43
  enter the mainstream consciousness.
• 29:45
  They can no longer ignore it. They have to at the very least
• 29:49
  seriously think about what is Bitcoin trying to solve?
• 29:53
  Will Bitcoin be a good, you know, asset for your portfolio?
• 29:56
  Should you be investing in Bitcoin?
• 29:58
  And of course, the big thing we always talk about is where what
• 30:02
  is the future of the dollar now? I've been covering this for a
• 30:05
  wow. They've been projecting and
• 30:06
  telegraphing what they want to do with the dollar, which is
• 30:09
  essentially lower interest rates, flood the market with
• 30:12
  more liquidity, essentially kind of lower the strength of the
• 30:17
  dollar so that we can kind of benefit from trade, etcetera.
• 30:21
  Which all means to you is your purchasing power of the dollar
• 30:25
  is going to get destroyed. You do not want to hold dollars.
• 30:28
  Actually, you cannot hold dollars if you're trying to
• 30:31
  build wealth. This is why everyone is trying
• 30:33
  to position themselves into various different assets.
• 30:37
  I know a lot of people historically like real estate.
• 30:39
  Real estate's really hot amongst kind of young investors right
• 30:43
  now. Basically everyone is investing
• 30:45
  in stocks and equities and the stock market is basically being
• 30:49
  held up by 7 companies. Like that's not even a joke
• 30:52
  anymore. It's literally like being held
• 30:53
  up by 7 companies right now, most of them AI.
• 30:56
  Yeah, exactly. Like literally the S&P 500,
• 31:00
  there's 500 companies. Most people invest in it.
• 31:03
  It's being held up by like 7 companies, most of them around
• 31:07
  AI. Like like Sophie was saying.
• 31:10
  And then of course gold. Gold did a pretty good run.
• 31:14
  It's kind of, you know, repriced itself by 8%.
• 31:17
  Of course, last week we were covering if a 5% of that goes
• 31:22
  into Bitcoin. Obviously, just because the
• 31:24
  Bitcoin price went down 8% doesn't necessarily mean that
• 31:26
  that's flowing into Bitcoin. But if a small portion of that
• 31:30
  does find its way in the Bitcoin, and maybe that's what
• 31:32
  we're seeing right now in the Bitcoin price, maybe people are
• 31:34
  taking some of their profits from gold and they're rolling it
• 31:37
  over in the rotation. The great rotation is finally
• 31:40
  upon us and they're trying to get themselves into Bitcoin.
• 31:43
  But again, the conversation is no longer let's ignore this
• 31:46
  speculative, you know, scam coin here.
• 31:50
  This is becoming a pivotal part of everyone's portfolio.
• 31:54
  And if you don't have even a little bit of Bitcoin in your
• 31:56
  portfolio, you are really missing out.
• 31:58
  So if you want to go listen to the whole podcast, let me let me
• 32:01
  refresh this, see if there's any more views.
• 32:03
  It roughly right now has around 100,000 views.
• 32:07
  So like, you know, these guys, these guys have a huge
• 32:11
  subscriber base, 1.47 million. So hey, they're doing they're
• 32:15
  doing a good job out there. If their job is kind of being
• 32:18
  financially savvy, how to protect yourself, how to invest,
• 32:21
  what you should be doing with your portfolio, I truly commend
• 32:24
  them for, you know, even if you don't like Eric Trump, but going
• 32:27
  out there and talking about Bitcoin and obviously Eric Trump
• 32:30
  is he's he's diving really heavily into Bitcoin.
• 32:33
  So with all that being said, let's just take a little quick
• 32:37
  peek of the podcast. Why should any government be
• 32:41
  buying Bitcoin? Because it's a single greatest
• 32:43
  performing asset over the last decade, increasing in value 70%
• 32:46
  a year, year over year, every year, like Germany a couple
• 32:50
  years ago. There's a great article.
• 32:51
  You'd probably, you might know the exact numbers, but Germany
• 32:53
  had like 30,000 Bitcoin or something along those lines.
• 32:55
  And they, they sold it right away.
• 32:56
  They monetized it into, you know, their currency and, and it
• 32:59
  was like the worst investment ever made by a government.
• 33:02
  And, and by the way, that's a pretty damn low bar, as you
• 33:04
  know, right? The government should definitely
• 33:07
  have have certain crypto assets on their, on their balance
• 33:11
  sheet, mainly, mainly Bitcoin and actually the United States
• 33:13
  government does, right. You have a lot of forfeitures
• 33:16
  and, and, and they've taken a, a great stance saying that we're
• 33:18
  not selling any of it. You have a lot of countries
• 33:20
  around the world that are actively buying.
• 33:22
  If you go to, you know, the UAE, if you, if you go to a lot of
• 33:25
  countries, they are actively putting that in their
• 33:27
  treasuries. And you look at the Fortune 500
• 33:29
  companies, they are actively hoarding Bitcoin.
• 33:31
  The biggest families, the biggest companies, you know,
• 33:34
  countries, sovereign wealth funds and individuals are all
• 33:37
  hoarding Bitcoin, right? It's, it's why it's been as
• 33:39
  explosive as it is. And it's funny, people are like,
• 33:41
  oh, well, Bitcoin's down by 3% now.
• 33:43
  It's like this time last year Bitcoin was up like 55,000 or
• 33:46
  60,000 roughly. It's had unbelievable explosive
• 33:50
  growth. Honestly, I, I almost personally
• 33:53
  feel attacked at the last point. It's like, yeah, it's down 3%.
• 33:57
  But remember last year we were at 55% and we're still
• 34:00
  complaining. We, we really, we actually, I
• 34:03
  saw Eric Balkunas tweet this morning or last night and he's
• 34:06
  like, Bitcoin's up 70 to 100%, you know, on the year.
• 34:11
  And Bitcoiners are complaining about it is like they should go
• 34:13
  talk to like traditional bond and mortgage traders and they'll
• 34:17
  realize like they'll get some perspective of how good we are
• 34:20
  actually doing. But we're all like, where's the
• 34:22
  400 X? Where's the 400% gains here?
• 34:25
  It's different because we've been waiting for like 4 years
• 34:28
  that that's what people don't understand.
• 34:30
  We're tired because we've been waiting for an entire cycle in
• 34:34
  what, you know, historically has been a huge bull run and we
• 34:40
  haven't gotten that yet. And I think that part of that is
• 34:43
  because institutions and governments have have stepped
• 34:47
  into the scene, right? Like I thought, I thought that
• 34:50
  them becoming part of it was actually going to make the price
• 34:53
  go up. But it turns out, it turns out
• 34:58
  that's not what's happening at all.
• 35:00
  And I could, I can only blame it on the one factor that's been
• 35:03
  different this cycle, which has been the involvement of the
• 35:06
  government and these great financial institutions.
• 35:09
  So. Well, I think I was actually
• 35:12
  explaining this to Sal this morning.
• 35:15
  I think what is going on and we covered it last week.
• 35:19
  A lot of the selling, quote UN quote selling that we're seeing
• 35:21
  from Wales. Remember guys, we've been
• 35:22
  covering that all year like even though supposedly we're seeing
• 35:27
  you know billions of dollars being bought up by institutions
• 35:30
  and Bitcoin treasury companies. At the same time we've seen
• 35:35
  multiple billions of coin, you know billion dollars in in
• 35:39
  Bitcoin hit the exchanges and a lot of people have been
• 35:42
  suspecting that the whales are selling out and everyone's like
• 35:45
  why would the whales sell out and obviously you can
• 35:47
  rationalize this and be like hey, 100K was their number with
• 35:51
  more data as the year comes along.
• 35:53
  It turns out that I think a lot of people are essentially
• 35:56
  swapping their Bitcoin for these treasury company stocks 'cause
• 35:59
  they think they're going to get a better return.
• 36:01
  And then and then just more recently, we saw that the
• 36:05
  BlackRock ETF is allowing the in kind redemption.
• 36:08
  So a lot of the quote UN quote selling we're seeing on the
• 36:10
  market is not necessarily people selling out.
• 36:13
  It's just them swapping for treasuries or these ETF to get
• 36:16
  some of these Wall Street benefits quote UN quote.
• 36:19
  And so like I have been saying that all year long as well self
• 36:23
  where it's like, all right, one, are these Bitcoin treasuries and
• 36:27
  ETFs actually buying Bitcoin because we should be seeing the
• 36:31
  price go up. And then as the data, more data
• 36:33
  comes out, you're like, well, at the same time, there is billions
• 36:37
  of dollars potentially being sold by whales, which makes you
• 36:41
  just very simply 42 IQ take of this.
• 36:44
  That's the thing, it's not even being sold, it's just being
• 36:46
  moved into ETF. Yeah, yeah.
• 36:48
  These institutions are holding those keys.
• 36:51
  So they're, it's not that they're being sold, it's that
• 36:53
  they're being like almost like just transferred like.
• 36:57
  Stabilized, yeah, totally. But on the exchanges, it does
• 37:00
  get marked as a sale even though they aren't actually selling and
• 37:04
  sell going further on it. I think what a lot of people see
• 37:07
  it's. Just massively undervalued.
• 37:09
  It's exactly what I think what a lot of people are seeing is if
• 37:12
  you see whale is kind of sending a bunch of coin and you're,
• 37:15
  you're not like a a hardened Bitcoin OG true believer, you
• 37:20
  probably get a little freaked out.
• 37:21
  You're like, why are they selling billions of coins or
• 37:24
  billions of dollars of coins on us?
• 37:26
  You know, this must be the top. They're looking for exit
• 37:29
  liquidity. But of course, we don't know
• 37:31
  exactly what they're thinking is.
• 37:33
  But if they are majority rolling it into treasuries or ETFs.
• 37:37
  So on the exchange, it'll mark as a sale, which scares people,
• 37:41
  but they're really not selling out.
• 37:43
  And so that's I think what's been kind of like the two
• 37:46
  factors in play. Yes, the Treasury companies are
• 37:49
  buying thousands, thousands, you know, 10s of thousands, hundreds
• 37:52
  of thousands of coins. ETFs have acquired million
• 37:55
  coins. But there has been potentially,
• 37:58
  you know, at least on market, on paper, a lot of sales.
• 38:01
  But now it looks like that is just getting ported over.
• 38:04
  And more recently, we did just see, since we're talking about
• 38:08
  Eric Trump here, their company, American Bitcoin Miner just
• 38:12
  recently bought an additional 1414 Bitcoin, now holds 3865
• 38:19
  Bitcoin and they are ranked 26. So, you know, Trump's are,
• 38:26
  they're climbing that leaderboard.
• 38:27
  I mean, Trump Media Group is I, what was it, 6?
• 38:30
  And now American Bitcoin Miner is 26.
• 38:34
  I think a lot of the people that are saying, you know, that Trump
• 38:37
  and then the Trump family isn't that serious about Bitcoin.
• 38:40
  I think their accumulations are telling us otherwise.
• 38:42
  They want the coin. They're, you know, they are
• 38:44
  very, very active about Bitcoin or America becoming the Bitcoin
• 38:48
  capital of the world. They they are, but at the same
• 38:51
  time, when these institutions start to adopt Bitcoin, they
• 38:54
  look for stabilization like the reduction of volatility.
• 38:59
  They don't like these crazy bull because what happens when a
• 39:04
  bunch of people see a bull run it like look at what happened
• 39:07
  with gold the other day. They will sell in order to have
• 39:11
  liquidity or to, you know, do it.
• 39:13
  And that, that type of volatility, Wall Street and the
• 39:17
  government, they're just not used to that.
• 39:19
  And I have a feeling that there is something happening behind
• 39:23
  the scenes that is either suppressing the price or, you
• 39:27
  know, some sort of mechanism in place that is keeping the the
• 39:32
  price like going sideways. Because I've never seen Bitcoin
• 39:35
  behave this way, to be honest, even during a bear market.
• 39:38
  I've always seen it go up and down, up and down.
• 39:42
  It doesn't just like straight up go sideways.
• 39:44
  That is a sign of what like something that like Apple would
• 39:50
  do on the stock market. It's it's not normal.
• 39:54
  We're really a stable coin now. It's.
• 39:57
  Crazy. It's going to be 115 per coin
• 40:01
  forever, guys. I like this comment in the chat
• 40:03
  though. JC 18 junior goes.
• 40:07
  People are mad that Trump gave them cheap coins to buy.
• 40:10
  Love it. Love the optimism.
• 40:12
  Yes, he said. We're going to be the, you know,
• 40:14
  Bitcoin superpower of the world. And then he gave us some cheap
• 40:17
  coins, you know, before the inevitable bull run.
• 40:20
  So, you know, you really can't be that mad at him.
• 40:22
  It's kind of a Chad move. You can be, Well, actually,
• 40:26
  yeah, you can't be mad at him because he's also the person
• 40:28
  that's printing a bunch of money for there to be in circulation
• 40:31
  so that you can buy more Bitcoin.
• 40:33
  But it's kind of impossible to do when people need liquidity
• 40:37
  because inflation is going. So like, do you see the cycle
• 40:40
  that I'm painting for you? Like it's it's getting harder to
• 40:43
  buy Bitcoin because of inflation essentially.
• 40:48
  Like the same reason why you would buy Bitcoin is the reason
• 40:52
  why it's it's becoming hard to acquire some in the first place.
• 40:56
  More dollars sloshing around in the system buying for the same
• 41:00
  amount of sets. It's the race is getting
• 41:03
  competitive to say the least, to say the least.
• 41:06
  Anyways guys, one more commercial break, break, break
• 41:09
  and we we will be right back. I want to give a shout out to
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  for 20% off. And if you want me to continue
• 44:00
  doing this lovely ASMR to counteract Niko's yelling at
• 44:06
  you, smash the like button, subscribe to this channel and
• 44:10
  share this video with your friends.
• 44:13
  Thanks. The whispering's hilarious.
• 44:16
  OK, guys, not. Even whispering at this point
• 44:18
  it's just like softer. It's just like normal talking
• 44:21
  because Niko yells at us every day.
• 44:24
  It's to bring the cortisol. Level down dude, honestly, you
• 44:27
  do bring my cortisol level down when you do the ASMR. Anyways,
• 44:30
  guys, let's let's chat about this.
• 44:32
  So if you're unaware of this Mount Gox, I don't know if you
• 44:37
  guys are new. If you've been in Bitcoin and
• 44:40
  you've done, you know, some basic research into the history
• 44:44
  of Bitcoin, then you know the importance of Mount Gox.
• 44:47
  It's one of the earliest exchanges had a huge demise.
• 44:51
  This was basically the start of I believe it was a 2013 bear
• 44:56
  market where it went from $1000 all the way down to $100.
• 45:00
  It took about two years for, you know, the Bitcoin price to
• 45:03
  reclaim this. This was one of those early
• 45:05
  moments where if you were in Bitcoin, excuse me, if you were
• 45:09
  in Bitcoin, this was one of those early testing points where
• 45:14
  you might have thought this whole thing was over.
• 45:17
  And This is why we constantly tell you guys that you want to
• 45:19
  take your Bitcoin off in exchange because if you don't
• 45:23
  own the keys and it's not really your Bitcoin.
• 45:26
  And if we seen any type of examples throughout history,
• 45:31
  these are the biggest ones. Whether it's Mount Gox, whether
• 45:33
  it's what happened with Block 5, Celsius, FTX.
• 45:38
  Some of the biggest moments in Bitcoin always revolve around a
• 45:42
  very simple principle is if you leave your Bitcoin on an
• 45:45
  exchange, it's not really your Bitcoin and you can potentially
• 45:49
  never get those Bitcoin back. And This is why we constantly
• 45:53
  tell you guys, you want to of course buy Bitcoin, but you need
• 45:57
  to take it into cold storage because you're never going to
• 46:01
  get rug pulled by an exchange. And again, This is why we
• 46:03
  partner with Bitcoin. Well, because they never hold
• 46:05
  the Bitcoin anyways. We have a recent update.
• 46:08
  So the last time we talked about Mount Gox it it sounded like
• 46:14
  the, you know, Mount Gox customers, victims, however you
• 46:18
  want to call it, we're about to get paid.
• 46:21
  I think the last time we were hearing about this, they were
• 46:23
  saying October or November of this year, they were all about
• 46:26
  to get repaid. And as of this morning or yeah,
• 46:31
  as of this morning, it looks like the Ogs out there.
• 46:35
  If you had Bitcoin on Mount Gox, it's going to be pushed back for
• 46:38
  another year, guys. So again, not your keys, not
• 46:42
  your Bitcoin. And this is one of the longest
• 46:46
  ongoing sagas in Bitcoin. This happened, you know, over a
• 46:51
  decade ago. And yet the people that had lost
• 46:54
  Bitcoin on Mount Gox still haven't been able to claim that
• 46:58
  Bitcoin. So we'll read this little bit.
• 47:00
  Mount Gox pushes back Bitcoin repayments to October 2026 The
• 47:04
  defunct exchange trustee has pushed back repayments for
• 47:06
  October 2026, citing incomplete procedures and creditor
• 47:11
  processing issues. Of course, here's it's gonna
• 47:16
  push back another year. So around 19,500 creditors have
• 47:21
  been repaid so far, while many remain pending.
• 47:24
  Early repayment news sparked sell offs, but later delays drew
• 47:28
  little reaction, showing greater market resilience.
• 47:31
  And again, I think This is why. On the one hand, if you are a
• 47:35
  Mount GOX victim, you're probably mad about this news
• 47:39
  story. But if you're a newer Bitcoiner,
• 47:43
  that last sentence is probably why this might be a bullish
• 47:46
  thing because it might have, it might have caused another sell
• 47:49
  off. But I think as if we seen
• 47:51
  anything in the last couple of weeks is that Bitcoin is more
• 47:54
  resilient. Bitcoin is stronger now, it is a
• 47:57
  bigger market and the sell offs aren't as brutal as they used to
• 48:01
  be. If you heard another kind of
• 48:03
  historical moment in Bitcoin, the bare well he sold about I
• 48:07
  think it was 19,000 coins or something like that.
• 48:11
  I'd have to maybe someone in the chat can refresh me on that.
• 48:13
  And the last sell off we just saw about, you know, a few weeks
• 48:17
  ago was like quadruple the size of that and we went down 10%.
• 48:22
  It wasn't a complete, you know, end of a bull run.
• 48:25
  It wasn't a bear market. It wasn't a long term kind of
• 48:28
  devastation. It was just a blip on the
• 48:30
  Bitcoin chart. Seems like the bear, the bull
• 48:33
  market is still in effect, still in play.
• 48:36
  So rehabilitation trustee Naboika Kobayashi wrote that
• 48:41
  many creditors still haven't received the repayments because
• 48:43
  they, quote, have not completed the necessary procedures, while
• 48:47
  others face issues during the process.
• 48:50
  Was formally approved by Tokyo court and announced on a notice
• 48:53
  published Monday. So it looks like they're going
• 48:58
  to get pushed back. And Arkham data shows that Mount
• 49:01
  GOX still holds about 34,689 Bitcoin, worth nearly $4 billion
• 49:08
  at current prices. So if we, we saw, if this did
• 49:12
  happen, I think a lot of Bitcoiners that were OG Mount G
• 49:16
  Ox, kind of, you know, I, I think the only word I can use is
• 49:20
  like victims here. Most likely they're not, you
• 49:24
  know, they haven't lost faith in Bitcoin, but if they did get
• 49:27
  repaid, we might have saw another sell off.
• 49:29
  And, and really the question is, could Bitcoin deal with another
• 49:32
  sell off right now? I feel like we're just getting
• 49:34
  some life back in the market. They might not, I mean.
• 49:38
  Yeah, that's that's really the thing if.
• 49:39
  If they're getting paid back in Bitcoin, if you know, I think
• 49:43
  some people are getting paid back in Fiat and in Bitcoin
• 49:46
  cash. But if they're getting paid back
• 49:48
  in Bitcoin and they've seen how it's performed over time, I
• 49:53
  don't see why they would massively like, sell this off.
• 49:57
  Like it was just like, like, why would they do that?
• 50:00
  Or maybe they would sell off a little portion, but not the
• 50:02
  whole thing. Not.
• 50:04
  Not when they've seen how much Bitcoin has appreciated over
• 50:07
  time. Well, that's what Elaine said in
• 50:09
  the chat. She goes, I guess Mountain Gox
• 50:10
  is waiting for a number to go up to.
• 50:14
  So hey, you know, one of those sagas that continues to go on.
• 50:18
  And This is why we constantly tell you guys, you need to take
• 50:22
  self custody of your Bitcoin. I know it's kind of, it is
• 50:28
  terrifying for a lot of people, but the safest place to hold
• 50:32
  your Bitcoin is under your own self custody.
• 50:34
  And I was literally talking to one of my cousins about this the
• 50:37
  other night. And he was like, OK, can you
• 50:39
  just like explain to me, you know what, like on a
• 50:43
  theoretical, technical level, is holding a Bitcoin on an exchange
• 50:47
  the same thing as holding in cold storage?
• 50:49
  Aren't they both kind of like IO us?
• 50:51
  I'm like, no, dude, like if you leave your Bitcoin on an
• 50:53
  exchange, that's the IOU and the safest place is to hold it in
• 50:57
  self custody. And he's literally the one that
• 51:00
  kind of got me into Bitcoin. Me and him basically learned
• 51:03
  around the same time. And of course I just got
• 51:04
  obsessed with it. And he just like, OK, whatever,
• 51:07
  like you're a nerd. But This is why we constantly
• 51:12
  tell you guys the best place to have your Bitcoin is just it is
• 51:16
  a learning curve. There is a little more
• 51:18
  responsibility that comes to it. But you cannot leave your
• 51:21
  Bitcoin on an exchange because you never know if these
• 51:24
  exchanges do go down, you might not ever receive that Bitcoin
• 51:29
  and you might be stuck in a, you know, over decade saga to try to
• 51:33
  reclaim your games. And the only thing that really
• 51:35
  kind of did well for the Mount Gox guys is that they literally
• 51:39
  did keep it in Bitcoin versus most other kind of scenarios
• 51:44
  similar to this. Like we saw with the Block Fi
• 51:46
  stuff in the FTX payments repayments, they basically just
• 51:51
  give you the dollar gain back on the date of its collapse.
• 51:55
  And so you lose out on all those games.
• 51:57
  That's what FTX is doing right? And so at least you can tell
• 52:01
  that these people have good intentions, even though the
• 52:05
  system behind them failed. And and that's, you know, the
• 52:10
  intention doesn't matter. You can still lose your Bitcoin.
• 52:13
  I think that's like the principal lesson here to learn
• 52:17
  is, you know, keep your, as you said, keep your Bitcoin in self
• 52:20
  custody and don't, don't, don't, don't keep it on exchanges.
• 52:24
  Yeah, and actually I think this is a good point when some hacks
• 52:28
  shouts out, my boy wins some hacks, he goes self custody is
• 52:31
  ideal. You shouldn't let it stop you
• 52:33
  buying Bitcoin. Now with a view to moving to
• 52:35
  self custody though, I would totally agree with this is like
• 52:39
  guys, a lot of the things in Bitcoin.
• 52:41
  Yes, we can be dogmatic when we when we talk to you guys on the
• 52:46
  show, a little hyperbolic, etcetera, but it is kind of baby
• 52:51
  steps. And I think a lot of people,
• 52:54
  especially when it comes to self custody and especially when it
• 52:58
  comes to a large amount of wealth, you shouldn't just, you
• 53:01
  know, go through this extremely fast.
• 53:03
  I think on more for most people, probably the best way to do
• 53:07
  this. And again, you know, like don't,
• 53:10
  don't, you know, put me on a don't crucify me here.
• 53:14
  But usually what I kind of recommend for most people is a
• 53:19
  very simple process so that they can kind of get their toes wet.
• 53:23
  And it's like, you know, buy on an exchange, whatever is most
• 53:27
  convenient for you, buy on an exchange.
• 53:30
  And then when it gets to a certain amount, you know,
• 53:32
  certain threshold that you feel a little uncomfortable leaving
• 53:35
  it on an exchange, then I'll probably have them move to like
• 53:38
  a phone wallet. And once they kind of get
• 53:40
  comfortable with that phone wallet, then I start kind of
• 53:43
  giving them a cold storage to set up and I kind of, you know,
• 53:47
  drip feed them more, more of the Bitcoin signal.
• 53:50
  So they they do happen in baby steps.
• 53:53
  Now I know a lot of people will do the opposite and they're
• 53:56
  like, you need to buy Bitcoin and you need to buy a bit key
• 53:58
  today. And this is the best way and the
• 54:00
  only way you should do it. I totally get that angle.
• 54:03
  I mean. It is the best way that you
• 54:05
  should. Yeah, it totally is the best
• 54:07
  way. But some people you, you kind of
• 54:10
  have to work with people. No, I mean, I think just
• 54:12
  everybody has to go through their own journey, right.
• 54:16
  Some people they they start by buying Bitcoin on cash shop and
• 54:20
  then they keep going down the rabbit hole and or something,
• 54:24
  you know, unfortunately bad happens to them where they lose
• 54:27
  some of their Bitcoin or they get scammed and then they
• 54:30
  realize the importance of self custody or the whole other side
• 54:34
  of why Bitcoin is important. It's not just number go up, it's
• 54:38
  the fact that you can store it with, you know, 12 or 24 words
• 54:42
  in your mind. So if you know if, wait what?
• 54:47
  Someone said force Bitcoin down their throats.
• 54:49
  Yeah, for just do it. Just you know what?
• 54:52
  Like forget everything I said, just force Bitcoin.
• 54:54
  Down yeah, yeah, just force Bitcoin down their throats.
• 54:58
  It it really depends like actually I'm I'm this is
• 55:03
  probably a good segue into wrapping this up.
• 55:05
  I did the other night get my, my young younger cousin kind of
• 55:13
  into Bitcoin and I, I did kind of force your hand a little bit.
• 55:16
  It wasn't that hard. I was like, OK, look, I'm going
• 55:19
  to send you some Bitcoin, but I need you to download a phone
• 55:22
  wallet and you need to, you know, write the seed seed phrase
• 55:26
  down. Make sure you don't show your
• 55:28
  mom or your brothers and make sure it's on a piece of paper.
• 55:33
  And then once you get that seed word phrase down, I'm going to
• 55:36
  send you some Bitcoin. I did a small little test
• 55:39
  transaction. I'm like, did you receive it?
• 55:41
  And she was like, yeah. And then and I sent her
• 55:44
  basically what I promised her and I'm like, OK, now you're a
• 55:47
  bitcoiner, you're rich, protected, like your life
• 55:50
  depends on it. And I just made I, I dude.
• 55:53
  So if I made another bitcoiner though.
• 55:55
  I did that with my I did that with my cousin actually a couple
• 55:58
  of weeks ago. I turned him on to Bitcoin.
• 56:01
  Well, I made him get a bit key. I made him, you know, have the
• 56:04
  whole system because he's like, bro, like what if they rug me on
• 56:09
  Coinbase? Like what if what happened to
• 56:11
  FTI? Like he just started randomly
• 56:13
  thinking about it and I was like, exactly, exactly.
• 56:17
  So I got him on the system. Now he's protected.
• 56:21
  He's hooked up like we're we're, we're moving in the right track.
• 56:26
  The kids are going to be. Yeah, the kids are going to be
• 56:27
  all right. And honestly, actually I'll just
• 56:30
  keep it moving and I'll, I'll rehash kind of part of this
• 56:33
  conversation, but the kids will be all right.
• 56:36
  All right. Last commercial break for you
• 56:37
  guys and we will chat a little more about this in the culture.
• 56:42
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  freedom. Sorry, guys, I was trolling in
• 58:46
  the chat, but Bitcoin Barbara, I'm glad stacked stacked over is
• 58:49
  almost over. Anyways, kind of continuing on
• 58:52
  this conversation that I had with my cousin.
• 58:56
  I I didn't do the whole, you know, Bitcoin shell, the
• 58:59
  importance of it, but she she actually like, I think I sent
• 59:04
  her, I don't know, like 20 bucks on like, I don't know, a few
• 59:08
  years ago or something like that.
• 59:09
  And her phone got lost. And then this is where that
• 59:12
  conversation kind of sparked from my aunt hit me up and she's
• 59:16
  like, you're, you're actually kind of influencing your, your
• 59:20
  baby cousin really well over here.
• 59:22
  Because the only thing she cared about was apparently she had
• 59:25
  some Bitcoin on that wallet. And I'm like, OK, did, did I
• 59:29
  write the seed words down for her?
• 59:31
  So I don't know. Anyways, I think we made a, a
• 59:34
  small donation to the network there because I, yeah, I
• 59:37
  couldn't find the wallet that I gave her.
• 59:40
  And so I felt bad, a little bad. And because I was, I, I, this
• 59:44
  was like 4 or five years ago or something like that.
• 59:47
  And so I was looking for the seed word phrase and I, you
• 59:52
  know, I, I just, I couldn't find it.
• 59:53
  And so I hit her up and I was like, OK, look, this is what
• 59:57
  we're going to do. You're going to download a
• 59:58
  wallet on your phone. You're going to write the seed
• 1:00:01
  word phrase. Make sure that you're writing on
• 1:00:04
  a piece of paper very legibly so that you can reread it.
• 1:00:08
  You know, make sure you do it slowly.
• 1:00:09
  All that good stuff, like don't show it.
• 1:00:11
  Like if you want to show it to your mom.
• 1:00:14
  So like do a copy so that your mom backs it up for you.
• 1:00:17
  You can do that. And we both kind of agreed like
• 1:00:20
  it's probably better. It's probably better in her
• 1:00:22
  control. Like she she'll protect her
• 1:00:24
  secrets better than my aunt will.
• 1:00:26
  I love my aunt, but yeah, she's, she's probably not the best
• 1:00:29
  person to, you know, keep, keep a, a very important thing for my
• 1:00:33
  young cousin. And so she wrote the seed phrase
• 1:00:35
  down and I sent her like a small test transaction.
• 1:00:40
  I'm like, OK, did you receive it?
• 1:00:41
  You know, did you do the wallet correctly?
• 1:00:43
  Are you getting that Bitcoin? And then I sent her some more
• 1:00:46
  Bitcoin and I was like, OK, now you got to protect this seed
• 1:00:49
  word, put it somewhere safe. And then on Christmas, it's
• 1:00:53
  coming up like I'm going to buy the whole family a bunch of bit
• 1:00:55
  keys. I'm going to make sure you guys
• 1:00:57
  are secure, secure. So for now, you know, you have
• 1:01:00
  some on your phone, don't lose your phone, etcetera, etcetera,
• 1:01:02
  etcetera. And she was super happy.
• 1:01:04
  I, I sent her, you know, not, not a lot of Bitcoin, but a lot
• 1:01:09
  for a young little girl. And she was super happy about
• 1:01:12
  it. And she's securing and she's,
• 1:01:13
  you know, she's a Bitcoiner Now I'm like, look, you're rich,
• 1:01:16
  you're a bitcoiner protected with your life.
• 1:01:19
  But one of the things I really did want to kind of talk to her
• 1:01:23
  about and tell her is just like the significance of I sent her
• 1:01:27
  like, you know, 100 bucks, 200 bucks or something like that,
• 1:01:29
  like not too much, but for a young girl.
• 1:01:32
  And she was happy about it. And I also was joking.
• 1:01:34
  So if I'm like, look, I'm not going to rug pull you like I'll,
• 1:01:38
  I'll, I'll lock in the games for you too.
• 1:01:40
  So if I sent you 20 bucks, like I'll send you 200 bucks this
• 1:01:43
  time so that you got the game, so you don't feel like I scammed
• 1:01:46
  you out of the out of your Bitcoin.
• 1:01:48
  So she in her head, you know, intuitively understands like,
• 1:01:52
  oh, Bitcoin goes, it's Internet money.
• 1:01:54
  Like she's in control. She's her own bank.
• 1:01:57
  And you know, so we we did that process and she was super stoked
• 1:02:00
  on it. But one of the things I really
• 1:02:02
  did want to go into is the whole idea of Bitcoin per share.
• 1:02:05
  But I didn't really want to like be the unk, you know, older
• 1:02:09
  cousin. That's like that's like all
• 1:02:11
  right, you know, you got to understand, you know, like stay
• 1:02:14
  in school, like you got to understand how much Bitcoin you
• 1:02:17
  actually hold you got. To go for like the initial human
• 1:02:20
  incentives of I get money from you.
• 1:02:24
  Awesome. Well, that's what I was joking
• 1:02:26
  and my my cousin was on the phone and I'm like, all right,
• 1:02:29
  so now your job is my, her, her older brother.
• 1:02:32
  It's like now your job is to anytime you get paid by your mom
• 1:02:37
  or your or my cousin, it's like you got to ask them for Bitcoin.
• 1:02:40
  And I heard him on the back. It's like, F no, I ain't giving
• 1:02:44
  her any of my fake coins. So you know she.
• 1:02:47
  Or she just got it. She she might just have to open
• 1:02:50
  up an account with Bitcoin. Well, dot.
• 1:02:52
  Com off the rugged she's not old enough she she's not old enough
• 1:02:56
  to do financial things. So really.
• 1:02:58
  You have to be old. I think you got it.
• 1:03:00
  I'm pretty sure you got to be at least 18.
• 1:03:03
  I'm guessing usually most exchanges you got to be 18 to
• 1:03:06
  open up an account unless it's offshore.
• 1:03:09
  No sorry I'm not rugging. I literally I locked in the
• 1:03:12
  games for her dude. So I you know.
• 1:03:14
  Probably gave her more. Yeah, I totally.
• 1:03:16
  Gave her more games than than what it was.
• 1:03:19
  I literally, yeah, I literally paid interest on it.
• 1:03:23
  Anyways, part of the thing when I was telling her and I was
• 1:03:26
  shooting her Bitcoin, I, I really want to like sink in the
• 1:03:30
  significance of it, but you know, I, I didn't really want to
• 1:03:33
  do the whole Bitcoin show and her being like, OK, whatever.
• 1:03:36
  So I'll do it here on the show. And our Twitter account did this
• 1:03:41
  funny tweet and it's like like if you hold more Bitcoin than
• 1:03:43
  Germany and they hold $814.54, which is what .007 08 bitcoins,
• 1:03:53
  so 700,000 SAT. I believe the US or German
• 1:03:57
  government holding 700 SAT. So if you hold $1000 in Bitcoin
• 1:04:01
  today, you hold more money than many of the nation states around
• 1:04:05
  the world. So pat yourself on the back.
• 1:04:07
  But this was the one that I, you know, just, I don't know if this
• 1:04:11
  would make sense to like a 1314 year old girl, but I, this is
• 1:04:15
  what I wanted to say. And I didn't want to get her
• 1:04:17
  eyes to gloss over and be like, OK, whatever, dude, just like,
• 1:04:19
  send me the money. Like, do I, do I have to sit
• 1:04:22
  through this lecture? Can you just send me the money?
• 1:04:23
  Wait. Till she finds out that she
• 1:04:25
  cannot spend it. No, she's she's all about
• 1:04:30
  locking in the game. She's like, I don't want to
• 1:04:31
  spend this I, she already because again, I sent her like
• 1:04:34
  20 bucks like, I don't know, 3-4 years ago or something like
• 1:04:38
  that. And we did the process before
• 1:04:41
  where she, you know, we wrote down the seed phrase together
• 1:04:44
  and I and I explained it to her and it, it registered long
• 1:04:48
  enough where she was like, I, I think, I think my cousin has the
• 1:04:52
  seed word phrase. And then I moved and I, I don't
• 1:04:54
  know what happened to it. So, you know, good donation for
• 1:04:57
  everyone else. Nice little lesson for my young
• 1:05:00
  cousin. And she knew, you know, like,
• 1:05:03
  yeah, it was like, I don't know, X amount of dollars, but like,
• 1:05:07
  it should be more now. I'm like, oh, well, what was it
• 1:05:09
  then? And I'm like, look, I'm not
• 1:05:10
  going to scam you. I'm going to I'll give you the
• 1:05:13
  game so so you can feel good about it.
• 1:05:15
  And here we go. This is like, you know, the
• 1:05:17
  Bitcoin per person, one of the classic kind of sites in Bitcoin
• 1:05:21
  just so people can really understand how valuable Bitcoin
• 1:05:26
  is. And really, you know, and I, I
• 1:05:28
  don't really fully believe in this metric of Bitcoin per
• 1:05:31
  person. I, I'm not really much of A, you
• 1:05:34
  know, what's it egalitarian or wherever, where everyone
• 1:05:37
  deserves the same thing and the same amount of wealth.
• 1:05:41
  But when you think of it in this context, you realize that even
• 1:05:45
  if you're holding a million sets, 10 million sets, half a
• 1:05:48
  coin, etcetera, like even if you're at $1000 in Bitcoin and
• 1:05:54
  today you are still early to this thing.
• 1:05:57
  And when you break down the math in the fractions of this,
• 1:06:01
  there's roughly, you know what, 8.1 billion people on planet
• 1:06:05
  Earth. As we always say, there's not
• 1:06:08
  that much Bitcoin to go around. I was literally tweeting on over
• 1:06:11
  the weekend, there's 24,000,000 American millionaires.
• 1:06:15
  It's only 21 million Bitcoin. Like the goal is and should
• 1:06:19
  always be trying to hold on to one coin.
• 1:06:22
  But hey, if you don't get to 1 coin like it's not the end of
• 1:06:25
  the world. Obviously you want to maintain
• 1:06:27
  stacking and continue to accumulate Bitcoin, continue to
• 1:06:30
  use it as a savings vehicle. But if you broke down the 21
• 1:06:34
  million SAT's compared to the 8.1 billion people, that
• 1:06:37
  basically is what is this 244,000 SAT's, 244,616 SAT per
• 1:06:46
  person? And right now that's what, 2
• 1:06:52
  almost $300 worth of Bitcoin? Is that what it's saying?
• 1:06:56
  Given that a current Bitcoin currently costs 114, it's a
• 1:06:59
  yeah, 1:15. There are only enough bitcoins
• 1:07:02
  for every person to have 281.28 cents worth of Bitcoin.
• 1:07:08
  That's great. If bitcoins were distributed
• 1:07:10
  using the current global distribution of wealth, 99.9% of
• 1:07:14
  people would have $53.50 worth of Bitcoin, and people on the
• 1:07:18
  top .001% would have .73 bitcoins each.
• 1:07:23
  So. Do you think like a situation
• 1:07:25
  would happen where like all of a sudden the dollar just like
• 1:07:30
  starts to gain value because we are backing our entire global
• 1:07:35
  reserve with Bitcoin? Theoretically, yes.
• 1:07:41
  In actuality, if the dollar gains more strength, that's
• 1:07:45
  actually kind of like a bad thing for us.
• 1:07:48
  In this scenario. But like, what if it gains
• 1:07:51
  strength by virtue of being backed by Bitcoin, is what I'm
• 1:07:55
  saying? Like, is that a thing?
• 1:07:58
  Is that possible? I mean, I'm not an economist.
• 1:08:00
  That's like really not that's that's.
• 1:08:03
  What, Since Senator Lummus has kind of been saying that we
• 1:08:06
  could, you know, save the US dollar by backing it with
• 1:08:09
  Bitcoin? Well, you could save the deficit
• 1:08:11
  is what she said. She said that we could pay off
• 1:08:13
  the majority of the deficit or whatever, but like over 20
• 1:08:17
  years. But even then, like, I mean,
• 1:08:19
  could you imagine if we were back in the 1950s when like 1/4
• 1:08:23
  would get you a slice of pie? If you go to Starbucks now and
• 1:08:27
  coffee's like $6, It's crazy. Yeah, inflation sucks.
• 1:08:32
  Inflation's a hell of a drug to say the least.
• 1:08:35
  But you have this comment. I'm finally above averaging
• 1:08:37
  something. Yeah, man, I like honestly, when
• 1:08:40
  when look, I know a lot of times you're on Twitter or you're
• 1:08:46
  talking to other bitcoiners, and we used to call it like stack
• 1:08:50
  shaming. People would stack shame you.
• 1:08:52
  It's because you don't have a big enough stack.
• 1:08:53
  Like we're, we're not. Look, let's be honest here.
• 1:08:57
  I'm never going to have Sailor stack, all right?
• 1:08:59
  There's no possibility I'm ever going to get Sailor or
• 1:09:02
  MicroStrategy stack or, you know, hold millions of coins
• 1:09:07
  here. So you do feel like you're
• 1:09:09
  losing the race a lot of times. But when you kind of break it
• 1:09:12
  down into this mentality, you start to realize, OK, I am in a
• 1:09:16
  lot better place than maybe I was giving myself credit for.
• 1:09:19
  And the whole point I think of this one was the kind of show my
• 1:09:23
  young cousin that, hey, you know, like you're holding a
• 1:09:27
  significant amount here, even if it's only a couple 100 bucks.
• 1:09:30
  Like it's really going to end up being a lot of money if you can
• 1:09:34
  hold it long term. But the second one is always the
• 1:09:38
  same that we always tell you. It's a game of accumulation.
• 1:09:41
  It doesn't matter what your stack is today.
• 1:09:43
  What matters is are you accumulating to that stack every
• 1:09:48
  week, every month, every year? That's the game that really
• 1:09:52
  matters is are you continuing to accumulate?
• 1:09:54
  So you should never be taking your foot off the gas, even if
• 1:09:58
  you go a long periods of time where life gets crazy and you
• 1:10:01
  can't stack Bitcoin, as long as you continuously save in
• 1:10:05
  Bitcoin. This is how you know you escape
• 1:10:09
  the rat race. This is how you achieve
• 1:10:11
  financial freedom. This is how you make sure that
• 1:10:16
  if there is some kind of dystopian future on the on the
• 1:10:19
  horizon, that you have money outside of the system.
• 1:10:22
  That's like the more kind of hardcore view of this.
• 1:10:25
  The simple view is like, you know, let's be happy for what
• 1:10:28
  you have. You might actually be in a much
• 1:10:30
  better place than you ever thought you were.
• 1:10:32
  When you really break it down into different kind of
• 1:10:35
  perspectives, different points of views.
• 1:10:37
  Like a lot of us, yes, we might not be 100 millionaire Ogs from
• 1:10:41
  2013, but in what, 15 years from now, the stack that you have
• 1:10:47
  could potentially be a significant amount of money that
• 1:10:51
  you need to protect. And you need to get more people
• 1:10:54
  kind of around you understanding what they hold and continue to,
• 1:10:57
  you know, do your part to get more people holding Bitcoin.
• 1:11:00
  So anyways, that's that's all I got for them today.
• 1:11:06
  You want to add a little bit to this?
• 1:11:07
  So I remember being Waves. Yeah, agreed.
• 1:11:11
  How much Bitcoin could that Snickers get you in 1969?
• 1:11:16
  Well, Bitcoin was around, I'm guessing a lot.
• 1:11:19
  A lot. A lot.
• 1:11:22
  I mean, I don't have much to add except for if this isn't your
• 1:11:27
  cue to keep stacking with the price going sideways like this
• 1:11:31
  with us, you know, having this expectation that Bitcoin is
• 1:11:36
  supposed to go up and it, you know, be supposed to be a bull
• 1:11:41
  run and it's not. You know that this should be
• 1:11:43
  your chance to just keep on stacking as much as you can as
• 1:11:46
  as much as things are getting much more expensive and like you
• 1:11:50
  need to live. The sacrifices that you make
• 1:11:53
  today to buy Bitcoin will more than likely be worth it in the
• 1:11:58
  future. So just keep sacking, keep it in
• 1:12:00
  self custody and you know, take it a day at a time, but do stay
• 1:12:04
  solvent, OK? This is not this is not
• 1:12:07
  financial advice. Oops, I'm I'm just pressing
• 1:12:11
  buttons over here. Yeah, you know, stack sat.
• 1:12:14
  Stay humble, stay solvent guys. Do not over leverage yourself.
• 1:12:18
  The name of the game is keeping your Bitcoin.
• 1:12:20
  So don't get caught up in the greed of trying to get more
• 1:12:22
  Bitcoin. The name of the game is keeping
• 1:12:25
  your Bitcoin so, you know, being smart with your money.
• 1:12:28
  I, I, it's really, I mean, I've been saying this for a while,
• 1:12:31
  like it's not sexy. Like the Bitcoin message is
• 1:12:33
  really not that sexy. It's like, oh, just save some
• 1:12:35
  money and, you know, get rich slowly.
• 1:12:38
  Like, it's really not that sexy. It's not giving Andrew Tate.
• 1:12:44
  It's giving stay at home and save.
• 1:12:49
  Save your shekels so that you can just live 10 years from now.
• 1:12:55
  Yeah, it's really not that sexy. It's like, oh, hey guys, how do
• 1:13:00
  we make financial, you know, smart financial planning sexy?
• 1:13:05
  You kind of can't you just stack Bitcoin and hold it for the long
• 1:13:08
  term and you're going to be good to go anyways.
• 1:13:10
  Guys, we love you. We appreciate you.
• 1:13:14
  We wouldn't be here without you guys.
• 1:13:17
  Of course. We go live Monday through
• 1:13:19
  Friday, roughly 1230. You know, I'm gonna, I'm gonna
• 1:13:22
  keep blaming Sophie for the really late time here.
• 1:13:25
  You know, like we usually it's 12:30.
• 1:13:27
  I know we start at 12:16, but we are really on Latino female time
• 1:13:32
  here for the for the foreseeable future until Nico comes back and
• 1:13:37
  then we're just simply on Latino time, which will be 15 minutes
• 1:13:40
  late. OK, so you know, we'll blame
• 1:13:43
  Sophie. Actually, I'm taking no
• 1:13:45
  responsibility for this. It's all Sophie's fault.
• 1:13:47
  No, I'm just trolling. I'm trolling.
• 1:13:49
  It's partly my fault too. So actually I'll take full
• 1:13:52
  response. I'll take full accountability as
• 1:13:54
  a male here. It is my fault we're starting
• 1:13:56
  late. OK, guys.
• 1:13:57
  So. Shutting up thing as a woman is
• 1:14:00
  really is really coming into my favor right now.
• 1:14:04
  All right guys, we love you guys and we'll be back tomorrow.
• 1:14:09
  Have a good rest of your day. It's Monday, guys, lock in for
• 1:14:13
  the week. We're going to we're going to
• 1:14:15
  lock in here. Positive attitudes all week.
• 1:14:18
  I can't complain any. I'm not going to complain to
• 1:14:21
  Sophie locking in guys, it's October is still in play.
• 1:14:26
  All right, guys, on that note, we will see you tomorrow.
• 1:14:29
  Have a good rest of your day. Bye.
• 1:14:31
  Today's episode was brought to you by bitcoinwell.com, a
• 1:14:35
  Bitcoin only platform on a mission to enable financial
• 1:14:38
  independence.