Latest / Simply Bitcoin / Lebanon Abandons Fiat Currency, ADOPTS Bitcoin in MASS | EP 615

Transcript

Lebanon Abandons Fiat Currency, ADOPTS Bitcoin in MASS | EP 615 · Simply Bitcoin

0:28
Yo today is November 7 2022. Welcome to Simply Bitcoin live
0:33
your number one source for the peaceful Bitcoin Revolution
0:35
recover, breaking news, cold traumatic Warfare.
0:38
We will be your guide through the Mission of money and state
0:41
speaking about the separation of money and state, huge news from
0:45
Lebanon and is whatever even tent with what we've been saying
0:49
this match messes that we've been saying for you guys for a
0:51
minute, the number one incentive for for Bitcoin.
0:55
Adoption is people adopting Bitcoin out of necessity versus
1:00
how it is in most developed most developed countries.
1:02
People adopted coin for more speculative reasons and that's
1:06
exactly what we're seeing in Lebanon.
1:10
The the Their financial system, their fiat currency has
1:13
collapsed. People lost their savings, all
1:16
their life savings, snap of a finger and now people are
1:21
seeking Alternatives because it's a matter of life and death.
1:25
It's a matter of whether I will be able to put food on the table
1:29
or whether I will not be able to put food on the table, that's
1:33
where it's at right now and this and the way that they look at it
1:38
right? And then as well as look at it,
1:40
Similarly argentinians. And in fact any person that
1:44
lives in a country that has crazy inflation rates in my
1:49
opinion, that's the witness of right way.
1:51
You should be looking at it because you're stable Fiat.
1:55
Currencies providing is giving you a false sense of safety.
1:58
It is still stealing from you. Even if we bring it back down to
2:03
that magical two percent number. It's still two percent theft
2:08
right and that and people You got to wake up to that, and
2:11
unfortunately way that people wake up the most is if their
2:16
local fiat currency fails in the first place.
2:19
Now, the bright side of this is do I think people in Lebanon or
2:23
ever going to go trust their government with their own with
2:25
money? I don't think so.
2:27
I don't think I think that once you open that door
2:31
non-government peer-to-peer Cap Supply, censorship resistant.
2:36
I think it's going to be very hard to convince the Lebanese
2:39
people to go. Back to where they started
2:42
specifically the younger generation that has spent less
2:45
time in the Fiat Matrix. Also we have a very special
2:49
guest Christian from brains and opted.
2:51
He's going to dedicate the culture segment to that.
2:56
Yes, sir. Well, yeah, you did the intro
2:59
for me, bro. So we are talking all things
3:02
Brands today in the culture, guys.
3:03
I think you guys are going to love this one. 100% before we
3:07
start the show, guys, I want to present Our Guest Christian from
3:12
brains. Are you doing Christian Church?
3:14
Casa, big pleasure to be on this show and meeting you at last
3:20
very happy to tell you more about brains and pitch and about
3:24
some of the topics that we will discuss because, hey, I'm
3:27
selling in the middle of Europe in developed country.
3:30
You know, Prague is super nice here.
3:32
We're thinking, oh, we're so far.
3:34
We're so Advanced, our money is going.
3:35
The shit too. By the way, we have like 19
3:37
percent inflation and just a few months ago were at six and my
3:41
mom was like it's gonna hand, you know, it's like, no, do you
3:45
know how many, how much they print it, and we're just
3:48
starting. So, it's not just about Lebanon.
3:50
It's, it's happening everywhere. So super happy to be here and
3:54
pitch in happy to have. You guys.
3:56
Brains is really interesting. They it more on the minor front.
4:01
We're going to get to that. Basically, if you're not
4:04
running, Brains firmware. If you're still relying on that
4:08
factory firmware. He's let's just say that's not a
4:12
good idea. You gotta you gotta get on to
4:15
brains and of course we're going to talk about other things as
4:17
well, really pumped for this show.
4:19
Like Opti said, earlier guys, we are traveling to Los Angeles
4:23
this week so this is the only show we're going to doing it.
4:26
We're going to be doing until Thursday on Thursday.
4:28
We're going to be doing a live simply Bitcoin show from the
4:31
Pacific Bitcoin Swan. Dome live in Los Angeles,
4:35
California. Foreign it's going to be hiked
4:37
but unfortunately, because of all the traveling Opti has to go
4:40
back home today, I don't leave until tomorrow.
4:42
It's going to be incredibly difficult to do a live show but
4:45
the good news if you still want your simply Bitcoin fix you
4:49
could tune in every single morning to Simply Bitcoins
4:52
wake-up call hosted by our own Rustin and he drops the sauce
4:57
every single day. Get all the Bitcoin signal in 10
5:01
minutes or less. Definitely check it out.
5:03
But anyways, let's start the show.
5:04
Let's do this. The Bitcoin numbers brought to
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All right, everybody the Bitcoin price at the time.
5:35
Recording is 20,000 715 SATs per dollar.
5:39
We're at 4827 block height, 760 2152, reachable Bitcoin nodes
5:46
are at fifteen thousand. Seven hundred ninety four blocks
5:49
to The Happening. 77840, eight having estimate April 22nd. 2024
5:56
total lightning Network capacities at 5,000, 185
5:59
capacity value again over 99 million.
6:02
It's a good thing to see that, bro.
6:04
Finally, We're sitting pretty at 107 million u.s. dollars.
6:09
I hope that number continues to go up.
6:11
Realized monetary inflation were sitting at one point seven.
6:14
Seven percent continuing to take Fiat currencies to Absolute
6:18
school, and of course, that realized monetary inflation
6:21
Bitcoins is going to continue to get lower especially when the
6:26
having's kicked in Kick in market.
6:28
Capitalization were sitting at 397 billion US dollars in the
6:33
grand scheme of things in the grand scheme of The world's
6:36
wealth Bitcoin is still a tiny little baby anyway.
6:40
So there's definitely a lot more lot, a lot more room to grow as
6:45
what I'm trying to say. Anyways, we have Mackenzie
6:48
Seagal us. I hope I pronounced her last
6:50
name correctly. She is a CNN, BBC reporter and
6:55
she's been covering she said in her bio.
6:57
She says he covers Tech but she's been one of the best
7:01
reporters for CNBC covering a lot of the events that are going
7:04
on with Bitcoin world. Wide right.
7:06
She covered how you know, people in Afghanistan were using
7:09
Bitcoin. After Afghanistan was Global cut
7:12
off from the Global Financial system.
7:13
After the United States pulled out.
7:16
And now we had a very interesting story drop over the
7:20
weekend and perhaps it was late last week where Lebanese people
7:25
find themselves in Dire Straits, their Fiat currencies have
7:28
collapsed and people are looking for Alternatives.
7:31
But before I play that video, I also combine this video, I made
7:35
a montage with this reporter called Joanne read.
7:39
She's very, she's very famous, she's very predominant in the
7:41
United States and she again, we are not, we are a political on
7:46
simply Bitcoin. We don't take political sides,
7:49
We Stand For Freedom. We stand for personal
7:52
sovereignty, right? We And for people taking
7:54
personal responsibility but we don't side with any particular
7:59
political party. That being said, we also had
8:02
Joanne read basically getting mad at Republicans because
8:07
Republicans Were Somehow teaching people about the
8:10
concept of inflation. I think that's so evil, right?
8:14
It's like no you peasant, you're not allowed to know what
8:17
inflation is. Now, the reason I combine that
8:20
with the Mackenzie Seagal owes clip is because there's a star
8:23
Arcing difference. It's like look if the inflation
8:26
rate is 8%. Okay.
8:27
Fine. People you can get by with
8:29
people not knowing about inflation, but if you know,
8:33
you're in Lebanon and your inflation rate is 95%.
8:36
If you are not aware about what inflation is and how you could
8:39
protect yourself from inflation, you will not be able to put food
8:43
on the table, so it's a to start contrast.
8:46
And again, I thought these reporters.
8:50
I thought there their job was to report.
8:53
What is going on at that? That's their whole purpose.
8:57
And now them saying, you know, we shouldn't people shouldn't
8:59
know about and that doesn't sound like they're reporting.
9:01
That sounds like their state is propaganda.
9:04
That's what it sounds like to me.
9:06
It doesn't sound like they're journalists, right drill.
9:08
This is supposed to tell you like, look, here's the inflation
9:11
rate. This is how much your savings
9:13
your money. This is how much your salary is
9:15
going down compared to last year.
9:17
But, no, he's taking a political angle getting upset at the
9:20
opposing, political party, because they're pointing out the
9:23
obvious. Yes, and again, both political
9:25
parties in the United States are guilty of this because they both
9:27
do the same thing when they're in power.
9:29
They print more money, right? Anyways, I'm going to shut up.
9:33
Now, let's check out the clip. Let's do it.
9:35
Decades of war and bad spending Decisions by the government.
9:39
Lebanon's, economy is in ruin, I'm speaking to people who've
9:41
had their life savings wiped out.
9:43
There are fuel shortages and power cuts, a local currency
9:46
that's lost 95% of its value and crucially money trapped in the
9:50
bank. People are literally robbing
9:52
banks at gunpoint to demand, access to their own cash and
9:55
because of this, a sort of Shadow crypto economy has
9:59
emerged. So we're talking about locals
10:01
mining for Bitcoin Dogecoin and Litecoin to earn money because
10:04
cuz they can't find work. Others are getting paid in
10:07
Bitcoin by finding freelance gigs on Reddit with people.
10:10
I ever heard you hear you use the word inflation are
10:13
journalists and economists, right?
10:16
So that is not part of the normal, lexicon of the way
10:20
people talk. So it's interesting that
10:22
Republicans are doing something they don't normally do right,
10:24
which is not used calm the common tongue, right?
10:27
Not used as common English to sort of use do on their
10:29
campaigns either doing with prime, but what they've done is
10:32
they've taught people the word inflation, right?
10:34
Most people would have never used that word ever in their
10:36
lives are using it now because they've been taught it,
10:39
including on TV, including in newspapers.
10:42
They've been taught this word and they sort of wrap this word
10:46
around whatever it is that they really want to vote, whether you
10:49
know the reasons they really want to.
10:51
Well I'm pretty confident the people of Lebanon know exactly
10:54
what inflation is. That's evil.
10:58
It's diabolical it's just caring about you know it's taking a
11:03
hyper political Dance and extreme political partisanship
11:08
partisanship and, and I think it's absolutely disgusting, you
11:12
know, it's like, yes people should be aware even, you know,
11:16
the average Joe should be aware what inflation is specially.
11:20
If the inflation rate is 10%, in fact the inflation rate affects
11:25
the average Joe. It affects the lower and middle
11:28
classes more because they don't have the means to save and
11:31
assets there for their wealth does not benefit from.
11:34
Asset inflation. It's only the wealthy.
11:37
That could protect themselves because they do have the means
11:40
to invest, right? So absolutely disgusting wording
11:45
from her man that that I saw that and I was disgusted.
11:50
You're a peasant. You don't deserve to know about
11:53
and play. In fact, you're too dumb to
11:55
understand what inflation means, man.
11:58
How dare you. They teach you what inflation
12:00
means and then compare that. The strike contrast with
12:04
Lebanon. On right?
12:05
It's like in people in Lebanon men.
12:08
Now they don't have they don't, they don't have an alternative.
12:11
Now, it's not about. Oh, you know who do we get in
12:14
power? Now, it's about how do we put
12:17
food on the table and of course, like always Bitcoin is the only
12:21
thing that's coming through. I know they mentioned shit
12:24
coins. But guys, like we've mentioned
12:25
many times shit coins. Provide a false sense of
12:28
financial sovereignty. You're dependent on a group of
12:31
developers. You're dependent on a Entity.
12:36
Right, we believe as bitcoiners its rules without rulers, don't
12:40
depend on anyone, trust minimize your money and I think the world
12:44
would be a much better place if enough people did just that
12:48
anyways Opti, what are your thoughts and then we'll move on
12:50
to Christian. Well that Joanne clip is
12:54
absolute Insanity. I me and Nico and we saw this
12:58
clip like we were completely appalled.
13:00
I believe that this was the case that the, that they Were taking
13:05
this hyper political view that they were literally saying to
13:08
your face, you are too dumb to understand what inflation was.
13:10
And you shouldn't understand what inflation was is because we
13:13
know fundamentally the problem. They do not want, the average
13:15
person to know that Fiat currencies are robbing them,
13:18
they do not want the average person know that the the
13:20
government creation of money is the cause of inflation so that
13:24
they can continue to print money and this is just next-level
13:27
gaslighting. I, it's absolutely insane.
13:30
That this is where the Legacy Media has taken the narrative,
13:34
you know. See media gets paid to lie.
13:36
You can't convince me. Otherwise is there are bought
13:38
and sold to push the party line to push the you know, the quote
13:42
unquote Elites status quo to use, name buchelli Zone, work
13:47
the elites Kool-Aid, Man, the elites Kool-Aid insanity.
13:52
And we know this game, but it apparently, if they're still
13:55
doing this type of messaging, then there has to be people out
13:59
there that still don't know that the that the Jig Is up.
14:01
Like Lebanon loves Bitcoin because they know what it means
14:04
to hold. Bad money and and it's further
14:06
Testament to the idea of third world countries will adopt
14:09
Bitcoin faster than Western First World countries because
14:12
westerners have that Financial privilege and and they don't
14:16
understand how this game is actually played out.
14:19
Inflation is robbing you guys Point Blank and we are being
14:21
forced to use the money that robs us.
14:23
Amen, to that Christian, you want to hit it, bro.
14:26
What are your thoughts? First thought is, I have no idea
14:29
how your political system works. There, Republicans Democrats, I
14:33
just totally, it's all the same. It's all the say something
14:35
that's my points. Like I don't want to know, I
14:38
don't want to know because a that would be arguing about
14:41
something else if they didn't have this this topic or or, you
14:45
know, it doesn't matter. The the sad thing is, as you
14:50
said inflation is the, it is robbing the average Joe like
14:55
that, it's not dropping the rich, it's how it is.
14:59
The, the sad thing little bit is that because of the Crazy
15:05
inflation going on right now, more and more people understand
15:07
it. So on one hand, it's terrible
15:10
because our money is getting decimated.
15:12
But on the other hand really more and more people start to
15:14
understand. I see it here.
15:16
As I said, I'm in developed country and proc sitting in the
15:19
middle of European Union. I'm we're living well off here,
15:22
but we're hitting 80 90 percent inflation and and the
15:26
discussions in the just past six months.
15:29
I had about inflation with absolute Average.
15:31
Joe is like, it does puts On my face.
15:35
But it's, it's like a bittersweet because it is
15:38
because, you know, everybody's getting fucked and you told them
15:41
like, years in a row about Bitcoin and they just, just
15:47
after it sold almost already laid their just coming into it.
15:50
So, on one hand, it's super sucks but on the other it will
15:54
produce way more bitcoiners that we could have imagined kind of,
15:58
it's like a, it's the biggest marketing strategy for the best
16:02
money ever invented. So it's better.
16:04
Oh sweet. It's bittersweet moment.
16:06
And 11 is people it I cannot imagine like we're there.
16:09
We are hitting 19 here and it's getting bad.
16:12
Like we had protests on the main Square in the city centre of
16:16
Prague, like twice with. I don't know, a hundred thousand
16:18
people and we just 19 in developed countries so I cannot
16:22
imagine was like 100% or 200% inflation.
16:25
That's crazy. But I think we're just starting.
16:29
We like where we heading. It's not going to be better and
16:31
it doesn't matter if you're in a developed country.
16:34
I said here in Europe or somewhere in the middle of
16:37
Africa are or other developing countries, it just protect
16:41
yourself like opt out and now is the time to listen to your
16:44
friends. Those crazy friends, they were
16:46
telling you about Bitcoin for years and years because just
16:50
look at your savings account, doesn't matter.
16:53
If you have 10% inflation as in the US, or, or 19, and the
16:57
middle of Europe Union, and it's just tell me why you believe
17:00
it's going to get better because whatever politician you like,
17:04
He's probably lying also so just don't trust anybody that's the
17:08
point of Bitcoin opt-out don't trust. 100%, I agree with you.
17:14
I think you hit the nail on the head, right?
17:15
It's going to keep happening and you buried the lead there a
17:20
little bit, right? What you said, it's like look.
17:21
We've been telling people about Bitcoin for so long and it's
17:25
what we've always said, guys, if you live in a country that has
17:28
Financial privilege, where your currency isn't stealing from you
17:31
enough for you, to realize most people see Bitcoin as a
17:36
speculative asset. Most people see Bitcoin as a
17:39
discomfort, you know. No, it's only until the reality
17:43
hits you and you and your government rug pulls you because
17:46
they print too much money to fund themselves that you wake up
17:49
to the reality. Hey, maybe a non-government
17:53
money that has rules without rulers peer-to-peer censorship
17:56
resistant, maybe that's a good alternative and I think that's
18:00
exactly what you're seeing in Lebanon today and we're going to
18:03
get, we're going to we're going to dig a little bit deeper into
18:05
it. Let's get to the news.
18:06
Let's do it. The Daily News brought to you by
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Alright everybody so check this out, all amazing article and it
18:35
really explains what situation on the ground is over there.
18:39
Shout out to the author Mackenzie Seagal has named an
18:43
article for audio listeners and bankrupt Lebanon locals mine
18:46
Bitcoin and buy groceries with tether as one dollar is now
18:50
worth fifteen cents. Talk about absolutely wrecked.
18:54
Anyways, she brings up the example of a very specific
18:57
individual, but I think it does a really great job at explaining
19:01
what the situation on the ground is.
19:03
So anyways, she starts article with when Giorgio a boo
19:07
Gabrielle first heard about Bitcoin in 2016, it sounded like
19:10
a scam but by 2019 as Lebanon plunged into a financial crisis.
19:15
Following Decades of expensive Wars and bad.
19:17
Spend Asians a decentralized in borderless digital currency,
19:21
operating outside the reach of bankers and politicians sounded
19:24
a lot. Like salvation in the spring of
19:26
twenty of twenty. Twenty Gabriel said, the banks
19:29
were closed and locals were barred from withdrawing money
19:32
from their, from their accounts. That's right, guys.
19:35
If you're not holding Nero money, If you're not holding
19:38
your own private Keys, it ain't your money when you have to ask
19:41
somebody else for permission to use your money it ain't your
19:46
money. And unfortunately the people of
19:48
Lebanon are learning this lesson that for decades.
19:52
This lesson has been learned over and over again the United
19:55
States it happened in the 1930s, the bank runs same thing, don't
20:00
trust someone else, holding your future, don't trust someone
20:04
else, holding your wealth specifically.
20:07
If you live in a very in in, you know, in the developing country,
20:12
man, this is this is very scary, but its history repeating
20:14
itself. Now, we have a good alternative,
20:18
a good solution, right? Gold is too heavy.
20:21
Gold is hard to transport. Especially if you have a good
20:24
amount. If you have, you have a big
20:25
amount right now. You can memorize and store
20:28
millions billions, if not trillions of dollars in your
20:32
mind by memorizing, a 12 word seed phrase, even though we
20:34
don't recommend that put it in steel, right?
20:37
Right down. On that seat phrase but if
20:38
you're in a pickle you could still do it.
20:41
Anyways receiving cash via International wire transfer
20:44
wasn't a great option. Either since these Services
20:46
would take US dollars from the sender and give Lebanese pounds
20:50
to the recipient as a much lower rate than market value.
20:53
According to the 27 year old. That's right.
20:56
If you if your if your family members wanted to send you
20:59
dollars from overseas to try to help you the receiving bank
21:04
would steal the dollars. And they would hand you a shit
21:08
coin. The dollar isn't should coin,
21:10
but it's less of a shit coin than the Lebanese fiat currency.
21:14
What solution do you have to that?
21:16
It's all based on coercion. It's all based on theft.
21:20
The entire system you save steal from you.
21:24
People try to send you a better alternative.
21:26
They steal from you. Ridiculous, I would lose around
21:30
half of the value explain guardrail of the experience,
21:32
that's why I was looking at Bitcoin.
21:34
It was a good way to get money. From abroad, Gabriel discovered,
21:37
a subreddit dedicated to connecting Freelancers with
21:40
employers willing to pay in Bitcoin.
21:44
Today, half of Gabriel's income is from freelance work, 90% of,
21:48
which is paid in Bitcoin, the other half comes from a u.s.
21:51
denominated salary paid by his new Architecture.
21:54
Firm Beyond being a convenient, way to earn a living.
21:57
Bitcoin has also become his bank when I get paid for my
22:01
architecture job, I would draw them all my money.
22:03
Continue get row, he then uses that cash to buy small It's a
22:06
Bitcoin every Saturday, the rest, he keeps a spending money
22:09
for daily needs and home. Renovations, get row isn't alone
22:12
in seeking alternative ways to earn save and spend money and
22:15
run a country, whose banking system is fundamentally broken.
22:18
After Decades of mismanagement, the local currency has lost more
22:21
than 95 percent of its value since August.
22:23
Not 2019, the minimum wage has effectively plummeted from 450
22:28
to Seventeen dollars a month pensions are virtually Lis
22:32
Lebanon shall digit. Inflation rate is expected to be
22:35
second only to a sedan this year and bank account balances are
22:38
just numbers on paper. Not everyone believes that banks
22:42
are bankrupt. But the reality is that they are
22:46
the situation hasn't really changed.
22:48
In 2019 Banks, limited withdrawals and deposits became
22:51
iou's. You could have taken out your
22:54
money with a 15% haircut than 35 today.
22:57
We're at 85 can in Hindi who was born and raised in Lebanon, but
23:02
before leaving at age, 19 still people look at their bank
23:05
statements. In believe that they're going to
23:07
be made whole at some point. It's so sad losing nearly all
23:11
their savings and pensions Gabriel's parents, both of whom
23:14
are career. Government employees are holding
23:16
out hope that the existing Financial system will right size
23:19
at some point in the meantime, Gabriel covering the difference,
23:23
CNBC spoke with multiple multiple locals, many of whom
23:26
consider cryptocurrencies as a Lifeline for survival.
23:30
Some are mining for digital tokens as their sole source of
23:33
income will hunt for a job. Others arranged, Cone,
23:36
clandestine mediums via clandestine meetings via
23:39
telegram to swap disabled coin, tether for US dollars in order
23:43
to buy groceries. Although the form that crypto
23:46
adoption takes varies, depending upon the person in the
23:48
circumstances, nearly all these local raved, a connection to
23:52
money, that actually makes sense very powerful line.
23:55
Their quote, Bitcoin has really given us hope.
23:58
Gabriel said, he doesn't say shit coins.
24:00
By the way he says Bitcoin specifically.
24:03
I was born it. I was born in my Village.
24:06
I've lived here my whole life and Bitcoin has helped me stay
24:10
here again. Very very, very powerful
24:13
ordering and now I wanted to cover this this this first of
24:18
all, this is tragic. This is a very tragic
24:21
circumstance. Now the elites though, right?
24:23
And then buchelli reference, these Elites right was the
24:26
United Nations. The IMF, the World Bank their
24:29
solution is more Central Bank. Digital currencies.
24:34
Here's the infamous Knighted Nations reports, its says
24:38
specifically, United Nations spells out actions to curb,
24:42
cryptocurrencies and developing countries.
24:44
Some of their Solutions is to regulate it to tax it, to make
24:48
it, to make it hard to take self, custody of it.
24:52
And there are other final solution.
24:53
Is we must push Central Bank, digital currencies.
24:57
The problem is that Central Bank due to a problem for them, not
25:00
for us, the sent the problem with Central Bank, to do a
25:02
currency is that they will never be able to match Bitcoins in.
25:06
Is what are those governments will always want to be able to
25:08
do two things and they can't stop themselves from doing
25:12
Tunes. In fact, it came out the coin
25:15
magazine tweet earlier today that the European Central Bank,
25:19
digital currency is going to have Capital controls.
25:22
They're only going to allow you to spend a certain amount
25:25
governments were always going to want to censor and they're
25:27
always going to want to debase and because they're always going
25:30
to want to do those two things to protect themselves to benefit
25:35
themselves. Bitcoins incentives will always
25:38
win censorship resistant Cap, Supply..
25:44
Governments can't have it and at the end of the day to use nine
25:47
bouquet Lee's own words, that's why they're petrified of what's
25:52
going on in El Salvador. That's why they are petrified
25:55
that Central African Republic Made Bitcoin, legal tender, and
25:59
many other countries will follow because of Bitcoins incentives.
26:03
And here is the case of Nigeria. We actually covered Nigeria on
26:08
an episode last week, write the name of the the Bloomberg title
26:13
that I think is very fitting. It says, skeptical Nigerians
26:16
aren't sold on Africa's first, digital currency, I love you see
26:21
you, you guys notice that that wording, the first digital
26:24
currency was in Bitcoin. The first digital currency was
26:28
the Central Bank. Digital currency, it ain't a
26:31
digital currency. If it's not a central bank,
26:34
digital currency, but here's the problem.
26:36
Problem as a Nigerian Central Bank, digital currency ain't
26:40
gonna fix that 20%. Nigerian naira inflation.
26:45
Is it? You know, what is going to and
26:47
fix that inflation rate? Bitcoin.
26:51
And that's why in the future of Money Report released by The
26:55
White House. That's why in all these reports
26:57
they net. That's why the world economic
26:59
Forum. That's why the United Nations
27:01
report. They always say, we have to
27:04
innovate the payment systems we have to push forward the payment
27:09
systems. We have to improve the digital
27:12
payments, but they never mention, because if they
27:17
mentioned this, it's the tell it's the giveaway.
27:19
It's the final nail in the coffin.
27:21
They never mention as to, why people are seeking Alternatives.
27:25
And the reason why people are seeking Alternatives in Lebanon,
27:28
is another example of that is because people are sick and
27:32
tired of being stolen from via currency debasement.
27:38
And there's nothing they have To fix that because if they fix
27:42
that, they could not pay for their own bureaucracies, their
27:48
own Survival. This is what the revolution is
27:51
all about. It's about taking back your
27:54
power back. It's about saying, no to theft.
27:56
It's about saying enough is enough.
27:59
I'm tired of being stolen from and there's nothing you could do
28:03
about it. Go pound sand and over a long
28:05
period of time. That's going to force them to
28:08
change behaviors. Sovereign individual.
28:12
Really, really cover the book. The sovereign individual really
28:14
gets into the details of that or his theory of the case.
28:17
Anyways, Christian, what are your thoughts on this?
28:19
You were talking about the situation in Prague.
28:22
You're talking about that 20 20 percent inflation rate, dude, it
28:25
looks like history's repeating itself just in another country
28:29
but it's the same damn thing, man, it's Fiat money, this
28:34
fiorentina's government money, the stealing from everybody.
28:37
The politicians in the bankers are working together to protect
28:40
them. Selves, the bank says no.
28:42
We can't give you access to that money.
28:44
Oh you could send us money in u.s. dollars or take.
28:46
The u.s. dollars will give you a shit coin in return.
28:48
It this is disgusting. This is tragic man.
28:51
What are your thoughts? Just by the way in Czech
28:55
Republic, so in this land or in this city in the past hundred
28:58
years, we had like four different government currencies,
29:01
right? Three or four.
29:03
So like it is very difficult to live just one generation to be
29:07
old grandpa and have good one money so it changing a lot even
29:11
in developed countries in the middle of Europe, by the way,
29:14
about the Lebanon story. I didn't know we're gonna cover
29:16
it, but we just tweeted about it, just the day and our take
29:20
on, it was home. Buyers will you know, World
29:23
inherit the earth. It's super, super cool to see.
29:28
People think or it's very often that we says bitcoiners, you
29:32
know, Bitcoin will save the world, it will fix it.
29:35
But we say in the future it's like we use future tense but
29:39
it's not the case. It's already doing it is, you
29:42
see the title and the Lebanese story was, people are mining at
29:48
home. I know, it's not thousands or
29:49
80% of of people escaping the inflation.
29:52
But the fact that some smart people already know about that
29:57
solution and use it to protect themselves and then then tell
30:00
their friends, that's super cool and it's the same story.
30:04
So we have a guy working our team, he's from Venezuela and he
30:09
was literally 34 years ago, he was mining, just to survive to
30:14
to have food to eat literally so it said my bit mining bitcoins
30:20
of his life and he's just repeating itself.
30:23
The story across the globe. My point is just saying hard to
30:28
Artemis Bitcoin is already. Helping it is already fixing the
30:32
word and I'm super happy. Super said about Lebanese
30:35
people. Like, well, what can I say?
30:37
We don't have 22 as you mentioned, but we have 18.
30:40
Percent, nineteen percent, it already sucks.
30:43
People are angry employee unemployment, rate may arise.
30:48
We have people protesting and it just twenty, right?
30:51
Just, of course, just with air quotes.
30:55
So I'm super sad about about those people but we have like
31:00
the pill that takes you out of the Matrix.
31:02
That's the point. Like now we have the technology
31:06
money's just technology and Bitcoin is just better better
31:08
money but it's technology. So now it's super, super cool
31:12
that we have it, so all the props to and sending all my
31:16
positive vibes to the bit Corners in Lebanon, because now
31:20
it's their time to no hassle as much an orange for as many of
31:24
the of their friends as possible.
31:26
Because now now they needed more than ever.
31:30
So just fingers crossed for them, you know, 100% And like
31:34
the do you, there's something that you said that resonated
31:38
with the part of the article and it Part of our goal that I'm
31:41
referencing is it says quote, although the form that crypto
31:44
adoption takes varies, depending upon the person, the
31:46
circumstances nearly all of these locals craved a connection
31:50
to money. That actually makes sense,
31:53
right? And this is where Bitcoin being
31:56
better money, right? And then Fiat currencies
31:58
exposing their cells for what they are pawns.
32:01
He's right, this is where Bitcoin really shines and we had
32:05
a very interesting comment that I actually wanted to read about
32:09
the West. East.
32:12
It says here we go. It the comment is by global
32:15
nonsense says, slow. Adoption for Western countries
32:18
will level the playing field for developing countries Poetic
32:22
Justice and I think that's absolutely true.
32:24
Anyways Opti what are your thoughts on all this man?
32:27
Well first and foremost shouts out to Gabriel for stacking SATs
32:31
to escape lebanon's inflation. It's just it's beautiful to see
32:35
and also we connect that with that clip by Joanne.
32:39
What's your last name read saying, you know, the average
32:42
person doesn't know what inflation is and it's so wrong.
32:46
That it's ridiculous because you can't have the sticker shock as
32:49
Nico's taught me in time ago. People inherently know what it
32:54
means to feel and go through inflation and the gas line think
32:57
of that that clip it hits harder when you see this News segment
33:01
but time self custody is the revolution.
33:04
If you put your money in a bank it's not your money anymore.
33:07
I know you guys saw on Twitter. The people from Lebanon,
33:10
literally. Being their Banks to get there.
33:12
And back like, this is, this is the end game of Fiat money.
33:15
This is why we go so hard to tell you, is to eliminate the
33:19
middleman, to become your own bank.
33:21
Again, spread that Bitcoin signal.
33:24
So people know the right tools. Self cut is the revolution used
33:27
Bitcoin wallets like old card Moon while it's Sparrow wallet.
33:31
Bitcoin core Breeze. Pine Phoenix Zeus.
33:34
If you're mortal I know there's a lot of other good wallets out
33:37
there but you know you know the verify your own transact.
33:40
Do not get ourselves. He's back into this situation
33:43
again, eliminate the banks by calming your own bank, guys like
33:48
that, quote about Banks being bankrupt in b.c., the article,
33:51
like so much sauce in there and it's not lebanon's Bank, like
33:55
all banks are bankrupt at this point, guys are the collateral,
33:58
but you can't stop the, the Bitcoin Revolution is going
34:02
worldwide, the signal can't be stopped.
34:04
Bitcoin is a REV, the individual.
34:07
We keep referencing the UN article and ever.
34:11
Anytime Nico brings it up. I can't forget that at the very
34:14
top. It says asperity for all Bitcoin
34:17
is the real prosperity for all we are bringing a money that is
34:21
attached to ality because everything has been just you
34:26
know, completely destroyed from reality.
34:28
There is no connection to reality in Bitcoin brings back
34:31
that natural law. So that we can actually build on
34:34
something with foundation. And this is what the Bitcoin
34:37
Revolution is all about. Like these absolutely insane and
34:40
the gas slide Getting By by the corporate media is is is
34:45
absolutely disgusting. These people I want to say
34:49
they're naive but it becomes clear here that they are just
34:52
malicious but hey I'll take off my tinfoil hat and it just shuts
34:57
out the Gabriel and shout out to the people in Lebanon that are
35:00
escaping inflation in are able to save for their future.
35:03
By either Point mining or just stacking SATs.
35:05
Like this is what it's all about guys that like the the you know,
35:10
it just It's me of nine bouquet lays article, you know, stop
35:15
drinking the elites Kool-Aid and you know, the one of the, one of
35:19
the lines, you know, that he said at the end, right?
35:22
It's an incredible article. I really recommend it.
35:24
We've gone over it many times and we've referenced on this
35:27
show, they say they used to own everything.
35:29
In a way, they still do the media, the banks to ngos
35:31
International organizations, and almost all the governments and
35:34
corporations in the world. And with that, of course, they
35:37
also own the Army's, the loans, the money supply, the credit,
35:40
ratings narrative, the Buganda, the factories, the food supply,
35:43
they control international trade and international law, but their
35:46
most powerful weapon is the control of Truth and they're
35:49
willing to fight. Lice mere destroy sensor,
35:52
confiscate print and do whatever it takes to maintain and
35:56
increase their control over the truth and everything and
35:59
everyone. And that's why this article by
36:02
the United Nations titled. You know, United Nations Spells
36:06
at curbs actions to curb cryptocurrencies in developing
36:09
countries. Is so disgusting.
36:11
They don't have an answer to inflation because the answer and
36:16
solution to inflation would take power away from them.
36:20
So the uses United Nations really want prosperity for all
36:24
no prosperity for all as long as it's we are in control as long
36:28
as we're in the driver's seat. And that's the beautiful thing
36:32
about Bitcoin is that all its exposes people's incentives and
36:36
if you're a tyrant oh that is very bad.
36:40
I want to know why Christine Guard and all the central
36:42
Bankers. Hate it so much because it it
36:44
just puts up a mirror and it exposes them for what they are
36:49
frauds, Opti calls them parasites.
36:52
I called the monetary demons but that's really what they are.
36:55
Anyways. Nope no day says if you're going
36:57
to hide your dead body buried in a dead Fiat if you're going to
37:01
hide your dead Fiats burry it in the debasement.
37:04
That is freaking hilarious. Oh man, oh man, thanks for that
37:08
comment. Anyways guys, let's talk about
37:10
brains Let's let's, let's find out more about it.
37:13
Let's, let's check out the culture.
37:15
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All right guys, I want to give a shout out to Pacific.
37:44
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37:47
west. It's coming up in two days, 20
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hours and five minutes. Pacific Bitcoin.
37:52
It's a two-day experience leading the way to a bright
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orange future speaker list includes Michael sailor.
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Lynn Alden core eclipsed and Jeff Booth Dylan Leclair robber,
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Breedlove Pierre, Richard Mark Moss, Nico and Opti you're going
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38:12
You could take advantage of the promo code all caps simply to
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get a major discount to your Pacific.
38:17
Oin tickets. Anyways Opti, take it away, bro.
38:21
It's all you. Let's go guys, so Christian, of
38:26
course there's new people out here that show up every single
38:29
day, so let's just start from the basics.
38:31
What is brains, and what is your company about?
38:35
Last note, Pacific Bitcoin is absolutely great event.
38:39
We really wanted to be there. Unfortunately, we have a bet man
38:43
is putting up a last-minute event in, Cancun, Mexico, and
38:46
exactly in those dates. Unfortunately, will not see you
38:49
there, but it was on our list for a long long, long time to go
38:53
to Pacific Bitcoin when they announce it.
38:55
So, enjoy gasps enjoy. It's going to be creative and
38:58
but if your minor see you in Cancun Mexico tomorrow and in
39:03
today's Brains Brains is a Bitcoin miner software company
39:08
currently outside. So anything to do so only
39:12
Bitcoin and only Bitcoin only Bitcoin mining and on this
39:15
software currently and it's not very We're mostly famous for the
39:20
firmware, which is just, by the way, fancy word to say,
39:23
operating system for the, for the Asics, like, for the mining
39:27
machines, right? But it's an operating system,
39:30
the same as your phone has Android or your laptop has a Mac
39:34
OS or Windows or Linux, we do the same for the basic miners
39:39
because we figured out the the Channing stock thing is not that
39:43
good so let's you know, let's do it better.
39:45
Let's fix it. But also Our oldest product
39:50
would be brains pool which is formerly known as / pool.
39:54
So it's the oldest mining pool since 2010.
39:59
We renamed for several. ER maybe I'm stuck somehow I
40:05
don't know how sorry. Is everything working, guys?
40:09
Yeah, everything's working great, lagging.
40:11
Anyway. Um, yeah, so so we had more and
40:14
more products coming out. So we just wanted to unify The
40:18
Branding. So we have brains full formula
40:22
no / pool. Then on the other hand, on the
40:25
other end of the spectrum, we have the operating system that
40:28
that's running the a sex and then we try to put as many
40:31
useful apps in the middle. So think about things like Farm
40:35
proxy which is just a fancy fancy.
40:38
Name for a cut, like a app that unifies the hash rate of like a
40:43
large farm and then sends it to the polling are like a smart
40:47
away and you can do like a farm management on top of it at
40:50
cetera. So basically, we try to put as
40:54
much of the mining software stack on top of each other and
40:58
just like a create value among those different products because
41:04
you had to be surprised, but very super early early in the
41:06
industry. People still think like, oh my
41:09
God Bitcoin is for twenty thousand dollars.
41:12
It's you know more than 10 years old Etc.
41:15
It's like it's too late. It's already.
41:17
It's already done. It's already.
41:19
It's the end of the Innovation or the, you know, of Bitcoin but
41:25
in the mining industry it's super clear that we're so early
41:29
in the game, it's like a super Wild West, it's a no
41:34
standardization the so many so many Rooms for optimizations and
41:39
for for new products. It's it's quite unbelievable.
41:42
But very little bit slower industry or not slower.
41:46
I would say the thing is that it's challenging, you know to
41:52
the survive the berry markets and even surviving the bull
41:55
markets. It's like so many new machines
41:58
so many new demands so many new request.
42:01
It's so it's tough. So I maybe got sidetracked.
42:07
Well known man. You happy Max.
42:08
You should know you're just hanging.
42:12
Yeah, shout out to Saint so going back to that right because
42:16
a lot of people don't understand right so you let's say you buy
42:19
an ant minor. I don't know if they still call
42:21
it that or you buy a what's minor right?
42:23
And it comes there you go. Oh stealth addition doesn't look
42:29
like it's not matte black in general.
42:31
Very nice. Very nice.
42:32
Okay, so you buy so you buy Bitcoin.
42:35
And it comes and you know, you install it right?
42:39
And it comes with a factory firmware, right?
42:42
It comes with the firmware, that's already, you know, pre
42:45
installed in the machine, right? So why are people going to go
42:50
out of their way to install something like the brains
42:54
firmware? What benefit did?
42:55
What? How does it benefit them?
42:57
I had this Theory, you know, because I started mining 2016.
43:00
I had this Theory and right when you plug in an Asic, right?
43:04
For the Just 30 seconds that thing spins up, and it's going
43:08
to the factory pool, right? I was like how much free
43:12
Bitcoins that was getting huge topic.
43:15
That was crazy. No, no, no.
43:17
But now imagine a lot, a lot, like retail minors, or people
43:22
just starting, they would have no idea, it takes them texting
43:27
quite some time to figure it out.
43:28
So but whatever you do, just plug it in and then it starts
43:31
mining to their own bit Maine. Whitman Poole with a bit in
43:36
between a six were wondering, like how much money they made on
43:39
that and it's so immoral. I would say.
43:43
It's so, so bad on so many levels.
43:45
And it just, and that's, that's the, that's the simplest thing
43:50
about the world, what they did wrong in the past, like, think
43:52
about things like a classic boost, that it was literally.
43:58
So it's a feature in the, in the firmware itself, which basically
44:03
simplified make Lets you mind 13, 13 percent more effectively
44:09
efficiently, which is a lot of money. 13% is double-digit
44:13
percentage of more profitability.
44:15
And Batman was literally explicitly saying it's not
44:20
possible to run this feature because of the architecture.
44:24
Limitations, Hardware architecture limitations, and
44:28
are explicitly saying that. So what we did we're saying,
44:32
hey, let us code. Better firmware, we just don't
44:36
believe this, this this nonsense we're digging in.
44:39
And and in order to coat our firmware, we had to reverse
44:43
engineer or a lot of there things, which is basically just
44:46
playing around, you know, hacking it seeing how it works.
44:51
And we actually proven we basically found the feature in
44:56
their firmware and we announced it like on the blog post proving
45:01
that it does. The machines are physically
45:04
capable of running the feature called acid boost and it just a
45:09
matter of firmware and I enable it.
45:12
So it's like a, you need to coat it.
45:13
You just need a feature to check on the box, you know, and able
45:17
as a boost the next day, Bittman releases update for all the and
45:23
minors and globally. So that that makes me question.
45:27
Like, are they really that dumb that although they saw blog
45:31
posts from brains and they thought, oh, we will Didn't
45:35
know, producing these machine pass the 66 years and having
45:39
like Global billion-dollar company.
45:42
All let us, by the way, coded in two minutes, so that we can push
45:46
it in the firmware updates to everybody around the world.
45:49
Bull-fucking-shit the theory, of course, I don't have proof, it's
45:54
just a theory but that it was during the wars with Bitcoin
45:58
cash, Etc. So think about all the
46:01
incentives, what could have been playing there?
46:03
Like, you know? Hey, by my machines mind on my
46:07
pool before Bitcoin cash fork and I'll give you this cool
46:11
feature, which is, by the way, super secret.
46:13
Nobody knows about it and your mind, 13% more efficiently.
46:18
We have no way to prove it but just putting those small dots.
46:23
It's such a small probability that it would be other started.
46:29
Yeah. So I don't want to continue that
46:31
and nourishment. That was the the back door they
46:34
could. Plug.
46:35
Yes, turn off your machines remotely, which, of course they
46:39
called, like Security Management feature.
46:41
Something something and we suggest whatever you do, we
46:44
don't do business like that. We say a not your firmware not
46:46
to admire. You have to be more fully in
46:49
control and nothing like, oh, there's a secret management
46:52
feature, some guy in China deciding on the red button, you
46:57
know, the shouldn't be that way. So we said oh it looks it, it
47:02
was it was absolutely crazy, especially in the The early days
47:05
before you guys existed it was just it was so so nuts.
47:09
Like we didn't have like you knew they were doing you knew
47:13
they were doing this stuff, also stealing some of your hash rate
47:18
as well. Right there was no way to know
47:21
but it was we everyone had suspicions but you couldn't
47:25
confirm it. And then you know, it was really
47:28
when you updated, you know, you change the firmware you start to
47:31
see holy crap where This hash rate going like with my machine
47:37
was capable of doing this in the first place.
47:40
What the hell is going on, you know, so for anyone who's
47:44
getting into mining, I know we have a lot of people that, you
47:46
know, are new into Bitcoin watching this show.
47:49
If you if you buy, you know what's minor, Aunt, minor, I
47:52
don't know if they still call it.
47:53
The bit made, miners, don't keep the factory software.
47:59
It cannot be trusted. But and I'm not just saying that
48:03
lightly based on On their previous actions, right?
48:06
And what is bitcoin? It's like don't trust verify you
48:09
know, trust minimize and I think that's where we're brains comes
48:13
in, man. I think that's what you guys are
48:15
great at. So what other things do you guys
48:17
do at your company because you guys aren't just, you know, a
48:21
firmware software and operate a minor operating system company.
48:24
I also know that you guys released a and I was shown this
48:28
at the mining conference shutout, Scott and Brad.
48:31
You guys came out with a with a manual or and you Some memes at
48:35
the end. Oh yeah, wait.
48:39
So Bitcoin mining handbook it's going to be did this this month
48:42
for free to download on our website.
48:46
We're going to be selling those two but soon you know, it's it's
48:50
tough. But yeah, of course we're like
48:52
we have to have a mining mixer section.
48:55
So the last part of the book is actually mining me exactly what
49:01
it says on the tin, right? So, it's a, it's a Section the
49:06
last chapter in the book about mining memes.
49:09
We think it's a very important part of our, you know, community
49:14
and I'm a marketing guy so I run marketing.
49:17
It brains. But I think it's genius because
49:20
it's like the you have the word for it.
49:23
No the edutainment or something like that.
49:24
You get super it cracks you up but you actually learn
49:28
something. So we have literally the just
49:31
read it, just read it. I think you have I have to laugh
49:35
and in order to laugh from the meme, you have to understand
49:40
some simple truth behind the meme.
49:41
So I think it's a big part and it's one of the greatest tools
49:45
for for Bitcoin market for Bitcoin marketing department in
49:49
general, I would say. So we had to have a section on
49:52
Bitcoin. Mining a hundred other things.
49:55
We do is the mining pool, the oldest mining pool with Mind
49:59
Over 1.3 million Bitcoins on it. So we'll be always first on that
50:04
I guess. The only really the only
50:06
possibility of somebody taking over us is like we would have to
50:09
unify all the hash rate, currently that is, and then mine
50:13
for the next hundred years in order to overtake brains pool
50:16
and that. So that's pretty cool that it's
50:18
just it's just cool. I mean you know, she's pretty
50:22
cool. So let's talk about the, you
50:25
know, the and this is a concern and specifically in the United
50:28
States, right? You have the US Treasury being
50:32
extremely hostile towards Bitcoin the Cynthia His words,
50:35
not mine. You also have an increase in
50:38
mining centralization in the United States, right?
50:41
So you know where I swear I believe this is going right and
50:45
just kind of connect the dots, everybody use some common sense,
50:48
right? Trish US Treasury sanctioned
50:51
open source software for the first time and that sanctioning
50:55
led to etherium. Now, the majority of aetherium,
50:59
validators are actively censoring for the office of
51:02
foreign assets control, right? So, the theorem is authority of
51:05
etherium is actively censoring for the u.s. government.
51:07
We do want to separate money from State, obviously, that
51:11
can't happen. What I believe is the next step
51:13
for the treasury's to knock on the door of the large industrial
51:16
miners. A lot, you know, The Foundry,
51:18
USA, right. Huge portion of the hash rate
51:21
and say, Hey, you know, you can only add, you know, whitelisted
51:26
transactions into the blockchain.
51:28
Of course, that's not going to censor Bitcoin it.
51:31
The, the worst thing that could happen is they could delay,
51:33
certain transactions. But it's not really full time
51:36
censorship but still do. We do we really want to get?
51:40
Do we really want to allow it to get to that point?
51:43
And it's something that we've been saying for a long time on
51:45
the show, we must innovate faster than they can regulate
51:50
right. And this is where stratum V2
51:52
comes in. For my understanding, the way
51:54
that it's worked for a long time.
51:57
Christian is that it's the mining pool that gets to pick
52:00
and choose the mining pool. That finds the block that gets
52:03
to pick and choose. Choose what Bitcoin transactions
52:07
are included in that block. What stratum V2 is going to do
52:11
is it's going to give the capacity the ability for the
52:15
individual Miner that found the block, the ability to pick and
52:19
choose what transactions he wants to include in the block
52:22
and what transactions he doesn't want, including the block.
52:25
And that further decentralised has the Bitcoin Network, making
52:30
it even harder for governments to co-opt and to try to control.
52:34
You tried to make like, an extension of the existing
52:39
censorship system that we have today.
52:42
So I don't know if that was a good explanation Christian.
52:44
But from, from your, from your perspective, what is stratum V2?
52:48
Why is it such a big deal? And I know that brains has been
52:51
one of the biggest proponents pushing that forward.
52:57
So many times when we mining is difficult in general, like a lot
53:02
of bit Corners to just say, hey this incentives are set
53:05
correctly. Let me not worry about mining.
53:07
It's really a lot of the cases and you see it on the Bitcoin
53:11
conference is like mining doesn't get the spotlight, which
53:13
is bad. I say so just to under explain
53:17
to you to to people when we say mining protocol like stratum or
53:21
Stratton the new proposed stratum veto it just a fancy
53:25
word to say how The Asic machine, like, the the mining
53:29
Hardware communicate with the pool.
53:31
So it's literally just a set of rules where we Define.
53:36
Imagine I'm the Asic machine right?
53:38
And say, hey Paul, nice to meet you.
53:40
I'm a sick, exception under the account exceptions.
53:43
At here is my work. Please accept it.
53:45
And give me my Bitcoin and the pool says, oh, okay.
53:47
Hey, I know you. You're mining on our pool.
53:50
I know your account, I can verify you're doing the work.
53:52
Here is the sad. So it just it.
53:54
Just a fancy word to say. Say how mining machine
53:58
communicates with the pool? That's the mining, pulled mining
54:01
protocol, and it's very simple. Because the first stratum, It
54:06
Was Written, like 2012, it's like a such an old.
54:09
And by the way, all the, even the shit coins, running
54:13
proof-of-work, they everything runs on the previous stratum
54:17
standard, but it's super all, it's like, it's literally just
54:21
one machine mining. Today is likely has higher hash
54:25
rate power than the whole Network in 2012.
54:27
So it's, it's like we've grown exponentially.
54:30
It's crazy. It's crazy.
54:33
Big Industry currently and like millions of machines running
54:36
now. So you need just a better
54:38
standard like just more efficient set of rules how those
54:42
two parties, communicate. So the just in summary.
54:47
And by the way, your brain, so brains is, we are doubters of
54:50
the new proposed route on Vito and we collaborated also with
54:55
Matt Correll. Oh, so We made the the new
54:57
standard two years ago and by the way, it's not a vapor where
55:00
it's like nothing. It's not something that we'll
55:03
we'll just talking about something that will work in 10
55:05
years already. So in our firmware, it's
55:09
implanted for the past two years and it's already running on our
55:12
brains pool for the past 20 or so.
55:14
Thousands of miners already used Stratton V2.
55:16
But important thing to say is it's a large standard.
55:20
Like, there's a lot of things, what it can do because we're
55:23
thinking like, hey, let's build a new standard for the next 20
55:25
years, right? So one of those things, for
55:27
example is the word selection as you said.
55:30
So giving enabling the feature that we can give the miners the
55:35
right to create the blocks and then, you know, send them to the
55:39
pools. And so moving that power away
55:43
from the pool back to the minors, but it's a additional
55:46
feature. So, here I want to say the
55:50
central is nation is not binary concept.
55:53
It's not, it's decentralized, it's not, it's a Age, scale, and
55:57
multi-dimensional scale. So when we talk about the
56:00
centralization, don't think about Stratton V2 as a silver
56:03
bullet. It just a another way, how to
56:06
make everything a little bit better.
56:08
It's but it's not like, oh well adopts shouting V2 and a bang,
56:12
we have like a Bitcoin 3.0. It's that would be Shady
56:15
marketing and just a theorem. Does that are you know we don't
56:18
do it here at brands are in Bitcoin.
56:20
So it is thing that will definitely help in all of the
56:25
cases and it It's, by the way, fixing a lot of other issues.
56:28
Like, it's not just about the decentralization, it's the
56:32
security, like it is so easy, like, extremely easy to steal
56:38
hash rate in Stratham V1. It's as simple and you don't
56:41
know who's doing it because it can be your router, it can be
56:45
your ISP provider, you will be surprised.
56:47
But when we announced the Stratton V2 protocol in
56:50
Kazakhstan on mining conference there was immediately large
56:54
minor from Ukraine. I think coming to us a like Oh
56:56
my God. Oh my God, I need this yesterday
56:59
because trapped in V2 is encrypted end-to-end encrypted,
57:02
so they can be nobody in the middle, just stealing your hash
57:05
rate randomly, which is, by the way, the case now, with struttin
57:08
V1. So, the global standard that we
57:10
can be stealing and you would have no idea if your ass be
57:14
still 0.01% of your hash at you. There's just no way to know and
57:20
it gets solved by Stratton V2. So there are a lot of things
57:23
like this that the It's fixes basically.
57:29
Absolutely guys download you use the brains firmware, make sure
57:34
that either the mining manufacturer your ISP is in
57:39
stealing your hash download brains.
57:41
Anyways, awesome, Christian really appreciated that guys.
57:44
Let's get to the meeting review, let's do it last last, last note
57:48
in sport, go ahead, go ahead. It's not like a branch purple.
57:50
I mean we're because we know that Stratton V2 is like
57:54
something that will need. And like 10 years with it, for
57:57
example, it fixes the empty blocks, so we knew will need it
58:01
as the whole industrial needed in like three calvings down the
58:05
line, right? So we're just developing it for
58:08
the future but we didn't expect this huge support so early, so
58:13
it's not going to be just friends that are already company
58:17
joining the initiative. So it is open standard and which
58:20
are just the guys that road and thought about it and implemented
58:24
first. But the point is, is it's open
58:26
stand and we should agree as the whole industry that we want to
58:30
take it as a new standard move forward.
58:32
So, I'm inviting all the industry players to join and
58:36
let's, let's talk about it. Absolutely man, very, very
58:41
bullish. And I love what you guys do.
58:43
Definitely check it out guys. Don't trust that factory
58:47
firmware on that minor that you just bought.
58:49
Anyways let's let's check out the mean review.
58:51
Let's do it. The daily meme review brought to
58:57
you by Kaboom racks. I get this question all the
58:59
time. Nico.
58:59
Where should I buy Bitcoin? Miners to answer is Kaboom
59:02
racks. It's the best place to buy
59:04
Bitcoin miners. That's where you're going to
59:06
find the best deals and the best prices start.
59:09
Your mining Utopia today to check out their racks.
59:12
You got to go to T dot me, slash Kaboom racks, join their
59:16
telegram group and start your mining Journey today.
59:19
Kaboom racks racks. Anyways, I want to give a
59:21
shout-out to narwhal Echoes. Check this out FYI.
59:25
Kaboom racks will pre-install brains OS for you before they
59:29
shit. Kaboom Rex.
59:36
All right guys, you already know this is the mean review and as
59:39
Nico patented, he didn't patent it but as he created the meme
59:43
tweets are the bullets of the artillery.
59:44
In this information more guys, you are the front line soldiers,
59:47
make should continue to propagate the meme.
59:50
That's a copyright strike iPad. Oh my God, make sure you
59:54
continue to get calls of actions out there and of course this is
59:58
a mean review scores show once I get done with the memes, drop I
1:00:01
mean, review, score in the chat. We will read some this first
1:00:04
one. I'm sure you guys saw this but
1:00:06
the EU Dropped In addition, or an asterisk to the infamous
1:00:12
hosted wallets. Well, the EU, this is a meme of,
1:00:15
like the the blonde lady yelling at the cat and he goes, you're
1:00:18
not allowed to have a self-hosted address and the cat
1:00:21
goes bacon, bacon bacon bacon, bacon bacon bacon go down and
1:00:24
you can see if, you know, you know, it's a metal phrase.
1:00:31
On with bacon, bacon as your wallet.
1:00:33
All right. Next one Nika, that's funny
1:00:34
bacon bacon. All right, this one this one I
1:00:38
this one's close to my heart, shouts out to save Dean ammos
1:00:40
and he just tweet status logic, humans are greedy and evil.
1:00:44
Therefore we can't let them make choices for themselves.
1:00:46
We must let other greedy and evil humans, make choices for
1:00:49
themselves and it's a meme of Ludwig, von mises and he goes,
1:00:54
if one rejects laissez-faire on account of man's fallibility and
1:00:57
moral weakness, one must for the same reason.
1:01:00
All So reject every kind of government action sauce complete
1:01:05
sauce. This next one, shouts out to
1:01:07
Maxie Club. I absolutely love what you do
1:01:10
with these memes, bro. And he goes 2006 move to, and we
1:01:13
got a couple, you know, we got a pink little blob in a green
1:01:17
little pep, a Blog frog or whatever they are.
1:01:20
He's eating a pizza that goes, the wife goes.
1:01:22
Hey, he's probably thinking about other women and then the
1:01:25
Bitcoin ago we should move to El Salvador so I can use the
1:01:27
lightning Network every day. Okay.
1:01:31
This next one guys. You might not think this is a
1:01:34
meme, but let me break this down for you.
1:01:36
So we have Jack and somewhat, I think it was like narwhal or
1:01:40
Darth coin in the simply Bitcoin telegram group.
1:01:43
That told me about this, but he goes these tracking editions.
1:01:46
When sharing at, we are a step backwards.
1:01:48
Nothing needed after the question, mark.
1:01:50
And if you go to this next one, Nico, it will actually click on
1:01:54
the photo and do all you bitcoiners.
1:01:57
You see that? There's some sauce in there.
1:01:58
He's got a tweet by how Finny And if you click on what that
1:02:02
tweet is, go to the next one, Nico the next tab open.
1:02:06
What is the tweet that he has in?
1:02:08
There it is. Running big coin, the legendary
1:02:11
tweet by how thin. Anyways, this next one.
1:02:15
Go to the next one. Go, we got this is only one JC
1:02:17
LP. And he goes, there is no second
1:02:20
of best, and we got this Bob of chat Bitcoin, or with laser eyes
1:02:23
and it goes life advice from Sailor.
1:02:25
One. Focus, your energy guard your
1:02:26
time, train your mind, your body, think, for yourself,
1:02:31
Curate, your curate, your environment, keep your promises,
1:02:34
stay cheerful and constructive upgrade the world and buy
1:02:38
Bitcoin pure signal, for Life advice, guys.
1:02:42
And this last one, shouts out the hot on never saw, do we got
1:02:45
tagged on this one right before the show, and it's perfectly
1:02:48
fitting for where we are right now in the market, guys.
1:02:50
And he goes, I'm a Bitcoin chart guide now like And subscribe and
1:02:54
you can see this, you know, bets World palm tree and it goes 2020
1:02:58
at the beginning 2021 as it goes to the Our tester 2022 is the
1:03:02
bottom 2023. It's going to go pumpy the pump
1:03:06
and 2024. It goes absolutely nuclear as we
1:03:09
go towards the moon. Anyways guys for my meme review
1:03:13
score today. I got this, very nice coffee cup
1:03:18
that I got my two double espressos and my normal coffee
1:03:22
this morning to get me jacked up for the show.
1:03:24
Anyways, Nico, what's your mean review score?
1:03:26
I'm gonna give it this. Kaboom Rex bum.
1:03:31
Kaboom Rex. Anyways, we got a question from
1:03:38
Park. Park says, says, which mining
1:03:41
pool. Should we be using Christian?
1:03:43
What mining pool should they be using?
1:03:47
How does Marty says brains right?
1:03:50
Bri bring, but it's suffered name in a row.
1:03:55
We used to be called Bitcoin dot.
1:03:57
Season mining pool, then / ball and no brains ball.
1:04:01
It's the first name already. Well, think about it for fun, of
1:04:04
course. All right guys, I'm the one to
1:04:09
blame by the way of everybody was, you know, keep / pull this.
1:04:12
Oh yeah, DM me. If you want to like die for her
1:04:15
hahaha, you're One responsible for Reidsville, that's funny.
1:04:18
Okay, so Christian, what would you what score would you give
1:04:22
those memes? I was thinking, hard work to
1:04:25
pick. I prepare like a weird very
1:04:27
subtle things here, because we're, so I'm going with this.
1:04:32
So this is an actual not Game. Boy, what was it?
1:04:40
Now, I don't remember. It's a Gameboy that actually
1:04:43
mines Bitcoin, you just need extra Raspberry Pi, My to have
1:04:46
the so and I would like to shout out for the first meeting with
1:04:50
the cats. So if any, if you can prove that
1:04:54
you created that mean with the self-hosted, what I will send it
1:04:57
to you and with a guide how to set it up, it actually runs
1:05:01
Bitcoin, mind the whole. Oh man, that's right guys.
1:05:04
You see if you created that Meme with the cats, the brain, the
1:05:08
the our friends over at brains are gonna they just offer
1:05:11
self-hosted wallet, it says octopus Olaf.
1:05:14
So if you are listening and you You are the Creator, you know,
1:05:18
create original Creator. DM Christian, Brains Brains and
1:05:23
they will send you a mining Gameboy.
1:05:27
Amazing. Oh man, look at that sauce.
1:05:30
Alright guys, this is the Bitcoin live.
1:05:31
Drop your scores in the live chat.
1:05:34
So we got and we will and we will read them.
1:05:36
Yeah. But I'm letting everybody else.
1:05:37
No no I said it. Okay.
1:05:38
Oh, you did did okay bubble nonce?
1:05:41
You remember. Oh, I'm so proud of Opti.
1:05:44
Global Nan says, I give the memes a coat. 27 pain, made with
1:05:47
Old McDonald, straw and plant based ink.
1:05:51
Next one. Bye, BTC pans irate, the memes.
1:05:53
Opt, he's throbbing Lagarde. If you guys don't know,
1:05:59
Christine Lagarde is opt. He's ex-girlfriend Brandon.
1:06:02
I give the memes some titanium plates.
1:06:04
Igor says, I give the memes and Asic powered home, home and
1:06:09
water heating system. Hottel coin says, I give the
1:06:12
means the IMF Bank of international settlements and
1:06:15
United Nations. Underwear after hearing about
1:06:17
lightning Bitcoin for Canadians. I give the memes a high-powered
1:06:23
protein shake with raw. Extra raw eggs, Frank says I
1:06:27
give the memes one bacon out of 24 planet.
1:06:31
Earth says I give the memes to bacon out of 24 and last score,
1:06:36
hit the buzzer Opti red button last score by Kaboom racks.
1:06:40
I give the score my s19 running brains and heating my house.
1:06:45
Oh, and I No, that's true. I could verify that.
1:06:48
All right guys, that was that was the meme review score, check
1:06:52
out, Simply Bitcoins telegram group.
1:06:53
It's awesome. That's where you can link us.
1:06:54
Bitcoin memes to review. It's absolutely free.
1:06:57
And Shout Out Darth coin, because we're figuring out how
1:07:00
to do a live telegram show every week.
1:07:02
Very, very looking forward to it.
1:07:04
Exclusively, on telegram, go to www.ah.mil / the simply Bitcoin
1:07:10
Channel. Also, check out the written
1:07:12
version of this show. Shout-out to our writers, Paul
1:07:15
rust and Zack. Wine a kiss.
1:07:17
Check out www.subply.com. News.
1:07:20
It's also absolutely free anyways.
1:07:23
Opti, we have a software release today.
1:07:25
Let's check it out. Bitcoin software release brought
1:07:30
to you by Cipher safe, don't be that person that loses their
1:07:34
Bitcoin seed. Due to fire damage water damage
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dog. Attacks back up your
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generational Bitcoin wealth on steel and there's no better
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place to do it than the cipher grid by Cipher safe and now
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check out their new Bitcoin art the Bitcoin rulebooks triangle
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only on Cipher safe dot IO. Beautiful.
1:07:58
Beautiful. Right guys.
1:07:59
So today software release is synonyms.
1:08:01
Bit kit. Guys are ultimate Bitcoin
1:08:03
toolkit and it offers a Bitcoin wallet that supports both on
1:08:07
chain and lightning transactions.
1:08:10
This application runs a kanaan routing lightning load and it
1:08:14
automatically on boards lightning users.
1:08:16
There's a bunch of cool features for this guy's.
1:08:18
If you are Developer if you want to run your own / tag, shout out
1:08:22
to all the people at synonyms. That are that definitely
1:08:25
thinking in the future and Create some awesome new project.
1:08:28
So definitely go check this one out and let us know what you
1:08:32
think about it. Also check out the audio version
1:08:35
of this show Opti. Oh yeah.
1:08:37
Oh yeah guys, we are on anchor. We are on Spotify, we are on
1:08:41
Apple podcast and I am pretty sure we are on every single
1:08:44
podcasting app that you can find on the internet.
1:08:47
But we are also on the Fountain, Valley for Value economy.
1:08:51
I do, I tried to load up all the comments this morning, but my
1:08:53
Fountain out was acting weird. So shout-out to you guys
1:08:56
streaming us. Shouts out to the comment.
1:08:58
I will get them back up as soon as possible guys.
1:09:00
We appreciate all the love and we appreciate your time.
1:09:03
We will see you on Thursday in Santa Monica.
1:09:06
Also guys, check out representing t.com they make
1:09:09
Stylee stylish merch. Comfy merch.
1:09:12
It's stylish is comfy opt he's wearing the orange pill trust.
1:09:15
No one merch, I'm wearing the basic represent.
1:09:19
Clean white hoodie, it's one of my favorite.
1:09:22
You'll see you guys will see me sport enough.
1:09:23
See me at the airport. I am wearing represent LTD guys.
1:09:26
Take it Use the promo code simply Dash Bitcoins to get a
1:09:29
big discount on representing. TD.com also want to give a very
1:09:33
special shout-out to our awesome.
1:09:35
Guest, he's from brains, thank you for joining us today.
1:09:39
Christian, really appreciate it. Where can people find out more
1:09:42
about you? And where can people find out
1:09:44
more about bringing needs? Well, Surplus, your guys really,
1:09:48
just go and find us on Twitter or telegram, actually brains
1:09:53
double. I so remember the double eyes
1:09:55
and we, it's not just about Out product releases, right?
1:09:58
We will love Bitcoin mining. That's all we can talk about.
1:10:01
So for mining memes to mining educational things, like we do
1:10:07
blog articles about how to, you know, build hot.
1:10:12
Stop using a sex heat or are going into really deep
1:10:18
economics, research about, I don't know, economics of
1:10:22
intermittent energy sources, mining Etc.
1:10:24
So, really if you are interested in Anything related to Bitcoin
1:10:29
mining? Definitely check out brains on
1:10:31
telegram or Twitter and remember the double eyes.
1:10:35
Hold on. Yeah, I dropped it on their
1:10:37
website and their Twitter in the description guys.
1:10:40
I made it real easy for you guys.
1:10:41
Yeah go check out brains guys don't trust that factory
1:10:45
software. Anyways guys that was our show.
1:10:47
Thank you so much for joining us another episode of Simply
1:10:49
Bitcoin. If you enjoyed this show, you
1:10:51
know what to do. Smith consider hitting that
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subscribe button. If you feel like we provided you
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value, the number one thing you could.
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Do to push this peaceful Revolution, forward is share
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this video. In fact, share all Bitcoin
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content, wake up the NPC's, give them that.
1:11:05
Orange pill guys, like we said, we are not going to have a show
1:11:10
until Thursday Thursday. We're going to be doing a live
1:11:13
show from the Pacific Bitcoin Conference next week.
1:11:16
We're going to be back to normal but if you guys still want your
1:11:18
simply Bitcoin fix opt, he's going to be uploading shorts
1:11:22
clips. And also if you want check out
1:11:25
the news wake up. Call, it's every morning, our
1:11:29
own rust and rot, or rust rust. And W drops the sauce.
1:11:34
Anyways guys, we love you all, we will see you on Thursday for
1:11:37
another episode of Simply Bitcoin.